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<p id="PARA1" style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>UNITED STATES</b></font></p>
<p id="PARA2" style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>SECURITIES AND EXCHANGE COMMISSION</b></font></p>
<p id="PARA3" style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>WASHINGTON, D.C. 20549</b></font></p>
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<p id="PARA5" style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>FORM 10-Q</b></font></p>
<p id="PARA6" style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
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<p id="PARA8" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">(Mark One)</font></p>
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<p id="PARA10" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Quarterly Report Pursuant to Section 13 or 15(d) of Securities Exchange Act of 1934</font></p></td></tr>
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<p id="PARA14" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">For the quarterly period ended November 30, 2016</font></p></td></tr>
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<p id="PARA16" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td></tr>
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<p id="PARA17" style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&#9744;</font></p></td>
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<p id="PARA18" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Transition report under Section 13 or 15(d) of the Securities Exchange Act of 1934</font></p></td></tr>
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<p id="PARA21" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
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<p id="PARA22" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">For the transition period from _________ to __________.</font></p></td></tr></table>
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<p id="PARA25" style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><i>Commission file number<br></i>333-196503<br>&nbsp;</font></p></td></tr>
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<p id="PARA26" style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>&nbsp;</b></font></p>
<p id="PARA27" style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>PROPERTY MANAGEMENT CORPORATION OF AMERICA</b><b><br></b>(Exact Name of Registrant as Specified in its Charter)</font></p></td></tr>
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<p id="PARA28" style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Delaware</font></p></td>
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<p id="PARA29" style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">46-4600326</font></p></td></tr>
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<p id="PARA30" style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">(State or Other Jurisdiction of Incorporation<br>or Organization)</font></p></td>
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<p id="PARA31" style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">(I.R.S. Employer Identification No.)<br>&nbsp;&nbsp;</font></p></td></tr>
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<p id="PARA32" style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">4174 Old Stockyard Road, Suite F<br>Marshall, VA</font></p></td>
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<p id="PARA33" style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><br>20115</font></p></td></tr>
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<p id="PARA34" style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">(Address of principal executive offices)</font></p></td>
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<p id="PARA35" style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">(Zip code)</font></p></td></tr>
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<p id="PARA36" style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">(540) 364-8131</font></p></td></tr>
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<p id="PARA37" style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">(Registrant&#8217;s Telephone Number, Including Area Code)</font></p></td></tr>
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<p id="PARA39" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes X No </font>&#9744;</p>
<p id="PARA40" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA41" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (&#167; 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).&nbsp;&nbsp;Yes &#9746;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&#61472; No </font>&#9744;</p>
<p id="PARA42" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA43" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">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 &#8220;large accelerated filer,&#8221; &#8220;accelerated filer&#8221; and &#8220;smaller reporting company&#8221; in Rule 12b-2 of the Exchange Act. (Check One):</font></p>
<p id="PARA44" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
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<p id="PARA45" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Large accelerated filer &#9744;</font></p></td>
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<p id="PARA46" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
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<p id="PARA47" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 7.2pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Accelerated filer&nbsp;&#9744;&nbsp;&#61551;</font></p></td></tr>
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<p id="PARA48" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Non-accelerated filer&nbsp;&#9744;&nbsp;&#61551;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><br>(Do not check if a smaller reporting company)</font></p></td>
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<p id="PARA49" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 7.2pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Smaller reporting company </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&#9746;</font></p></td></tr></table>
<p id="PARA51" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA52" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).</font></p>
<p id="PARA53" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Yes &#9744; No &#9746;</font></p>
<p id="PARA54" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA55" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">As of January 10, 2017,</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> there were 10,307,000 shares of common stock, par value $0.0001 per share, outstanding. </font></p>
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<p id="PARA57" style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><u><b>TABLE OF CONTENTS</b></u>&nbsp;</font></p>
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<p id="PARA59" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
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<p id="PARA62" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
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<p id="PARA63" style="TEXT-ALIGN: center; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><u>Page</u></font></p></td></tr>
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<p id="PARA64" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.75pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>PART I. FINANCIAL INFORMATION</b></font></p></td>
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<p id="PARA65" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: center; WIDTH: 5%; BACKGROUND-COLOR: #cceeff">&nbsp; F-2</td>
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<p id="PARA66" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td></tr>
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<p id="PARA67" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.75pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
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<p id="PARA68" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 5%; BACKGROUND-COLOR: #ffffff">&nbsp; </td>
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<p id="PARA69" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td></tr>
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<p id="PARA70" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.75pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Item&nbsp;1. Financial Statements</font></p></td>
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<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: center; WIDTH: 5%; BACKGROUND-COLOR: #cceeff">&nbsp; F-2</td>
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<p id="PARA73" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.75pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
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<p id="PARA74" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 5%; BACKGROUND-COLOR: #ffffff">&nbsp; </td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<p id="PARA75" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td></tr>
<tr style="BACKGROUND-COLOR: #cceeff">
<td style="VERTICAL-ALIGN: bottom; WIDTH: 93%; BACKGROUND-COLOR: #cceeff">
<p id="PARA76" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.75pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Condensed Balance Sheets - As of November 30, 2016 (Unaudited) and February 29, 2016</font></p></td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<p id="PARA77" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: center; WIDTH: 5%; BACKGROUND-COLOR: #cceeff">&nbsp; F-2</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<p id="PARA78" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td></tr>
<tr style="BACKGROUND-COLOR: #ffffff">
<td style="VERTICAL-ALIGN: bottom; WIDTH: 93%; BACKGROUND-COLOR: #ffffff">
<p id="PARA79" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.75pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<p id="PARA80" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 5%; BACKGROUND-COLOR: #ffffff">&nbsp; </td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<p id="PARA81" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td></tr>
<tr style="BACKGROUND-COLOR: #cceeff">
<td style="VERTICAL-ALIGN: bottom; WIDTH: 93%; BACKGROUND-COLOR: #cceeff">
<p id="PARA82" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.75pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Condensed Statements of Operations (Unaudited)</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">- Three and nine months ended November 30, 2016 and 2015</font></p></td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<p id="PARA83" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: center; WIDTH: 5%; BACKGROUND-COLOR: #cceeff">&nbsp; F-3</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<p id="PARA84" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td></tr>
<tr style="BACKGROUND-COLOR: #ffffff">
<td style="VERTICAL-ALIGN: bottom; WIDTH: 93%; BACKGROUND-COLOR: #ffffff">
<p id="PARA85" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.75pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<p id="PARA86" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 5%; BACKGROUND-COLOR: #ffffff">&nbsp; </td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<p id="PARA87" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td></tr>
<tr style="BACKGROUND-COLOR: #cceeff">
<td style="VERTICAL-ALIGN: bottom; WIDTH: 93%; BACKGROUND-COLOR: #cceeff">
<p id="PARA88" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.75pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Condensed Statement of Changes in Stockholders&#8217; Deficit (Unaudited) &#8211; Nine months ended November 30, 2016</font></p></td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp; </td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: center; WIDTH: 5%; BACKGROUND-COLOR: #cceeff">&nbsp; F-4</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp; </td></tr>
<tr style="BACKGROUND-COLOR: #ffffff">
<td style="VERTICAL-ALIGN: bottom; WIDTH: 93%; BACKGROUND-COLOR: #ffffff">&nbsp; </td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp; </td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 5%; BACKGROUND-COLOR: #ffffff">&nbsp; </td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp; </td></tr>
<tr style="BACKGROUND-COLOR: #cceeff">
<td style="VERTICAL-ALIGN: bottom; WIDTH: 93%; BACKGROUND-COLOR: #cceeff">
<p id="PARA89" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.75pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Condensed Statements of Cash Flows (Unaudited) - Nine months ended November 30, 2016 and 2015</font></p></td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<p id="PARA90" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: center; WIDTH: 5%; BACKGROUND-COLOR: #cceeff">&nbsp; F-5</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<p id="PARA91" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td></tr>
<tr style="BACKGROUND-COLOR: #ffffff">
<td style="VERTICAL-ALIGN: bottom; WIDTH: 93%; BACKGROUND-COLOR: #ffffff">
<p id="PARA92" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.75pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<p id="PARA93" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 5%; BACKGROUND-COLOR: #ffffff">&nbsp; </td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<p id="PARA94" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td></tr>
<tr style="BACKGROUND-COLOR: #cceeff">
<td style="VERTICAL-ALIGN: bottom; WIDTH: 93%; BACKGROUND-COLOR: #cceeff">
<p id="PARA95" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.75pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Notes To&nbsp;Condensed Financial Statements (Unaudited) - Three and nine months ended November 30, 2016 and 2015</font></p></td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<p id="PARA96" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: center; WIDTH: 5%; BACKGROUND-COLOR: #cceeff">&nbsp; 2</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<p id="PARA97" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td></tr>
<tr style="BACKGROUND-COLOR: #ffffff">
<td style="VERTICAL-ALIGN: bottom; WIDTH: 93%; BACKGROUND-COLOR: #ffffff">
<p id="PARA98" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.75pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<p id="PARA99" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 5%; BACKGROUND-COLOR: #ffffff">&nbsp; </td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<p id="PARA100" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td></tr>
<tr style="BACKGROUND-COLOR: #cceeff">
<td style="VERTICAL-ALIGN: bottom; WIDTH: 93%; BACKGROUND-COLOR: #cceeff">
<p id="PARA101" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.75pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Item&nbsp;2. Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations</font></p></td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<p id="PARA102" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: center; WIDTH: 5%; BACKGROUND-COLOR: #cceeff">&nbsp; 5</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<p id="PARA103" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td></tr>
<tr style="BACKGROUND-COLOR: #ffffff">
<td style="VERTICAL-ALIGN: bottom; WIDTH: 93%; BACKGROUND-COLOR: #ffffff">
<p id="PARA104" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.75pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<p id="PARA105" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 5%; BACKGROUND-COLOR: #ffffff">&nbsp; </td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<p id="PARA106" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td></tr>
<tr style="BACKGROUND-COLOR: #cceeff">
<td style="VERTICAL-ALIGN: bottom; WIDTH: 93%; BACKGROUND-COLOR: #cceeff">
<p id="PARA107" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.75pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Item&nbsp;3. Quantitative and Qualitative Disclosures About Market Risk</font></p></td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<p id="PARA108" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: center; WIDTH: 5%; BACKGROUND-COLOR: #cceeff">&nbsp; 8</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<p id="PARA109" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td></tr>
<tr style="BACKGROUND-COLOR: #ffffff">
<td style="VERTICAL-ALIGN: bottom; WIDTH: 93%; BACKGROUND-COLOR: #ffffff">
<p id="PARA110" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.75pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<p id="PARA111" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 5%; BACKGROUND-COLOR: #ffffff">&nbsp; </td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<p id="PARA112" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td></tr>
<tr style="BACKGROUND-COLOR: #cceeff">
<td style="VERTICAL-ALIGN: bottom; WIDTH: 93%; BACKGROUND-COLOR: #cceeff">
<p id="PARA113" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.75pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Item&nbsp;4. Controls and Procedures</font></p></td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<p id="PARA114" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: center; WIDTH: 5%; BACKGROUND-COLOR: #cceeff">&nbsp; 8</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<p id="PARA115" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td></tr>
<tr style="BACKGROUND-COLOR: #ffffff">
<td style="VERTICAL-ALIGN: bottom; WIDTH: 93%; BACKGROUND-COLOR: #ffffff">
<p id="PARA116" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.75pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<p id="PARA117" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 5%; BACKGROUND-COLOR: #ffffff">&nbsp; </td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<p id="PARA118" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td></tr>
<tr style="BACKGROUND-COLOR: #cceeff">
<td style="VERTICAL-ALIGN: bottom; WIDTH: 93%; BACKGROUND-COLOR: #cceeff">
<p id="PARA119" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.75pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>PART II. OTHER INFORMATION</b></font></p></td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<p id="PARA120" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: center; WIDTH: 5%; BACKGROUND-COLOR: #cceeff">&nbsp; 9</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<p id="PARA121" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td></tr>
<tr style="BACKGROUND-COLOR: #ffffff">
<td style="VERTICAL-ALIGN: bottom; WIDTH: 93%; BACKGROUND-COLOR: #ffffff">
<p id="PARA122" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.75pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<p id="PARA123" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 5%; BACKGROUND-COLOR: #ffffff">&nbsp; </td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<p id="PARA124" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td></tr>
<tr style="BACKGROUND-COLOR: #cceeff">
<td style="VERTICAL-ALIGN: bottom; WIDTH: 93%; BACKGROUND-COLOR: #cceeff">
<p id="PARA125" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.75pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Item&nbsp;1. Legal Proceedings</font></p></td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<p id="PARA126" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: center; WIDTH: 5%; BACKGROUND-COLOR: #cceeff">&nbsp; 9</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<p id="PARA127" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td></tr>
<tr style="BACKGROUND-COLOR: #ffffff">
<td style="VERTICAL-ALIGN: bottom; WIDTH: 93%; BACKGROUND-COLOR: #ffffff">
<p id="PARA128" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.75pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<p id="PARA129" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 5%; BACKGROUND-COLOR: #ffffff">&nbsp; </td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<p id="PARA130" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td></tr>
<tr style="BACKGROUND-COLOR: #cceeff">
<td style="VERTICAL-ALIGN: bottom; WIDTH: 93%; BACKGROUND-COLOR: #cceeff">
<p id="PARA131" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.75pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Item&nbsp;1A. Risk Factors</font></p></td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<p id="PARA132" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: center; WIDTH: 5%; BACKGROUND-COLOR: #cceeff">&nbsp; 9</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<p id="PARA133" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td></tr>
<tr style="BACKGROUND-COLOR: #ffffff">
<td style="VERTICAL-ALIGN: bottom; WIDTH: 93%; BACKGROUND-COLOR: #ffffff">
<p id="PARA134" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.75pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<p id="PARA135" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 5%; BACKGROUND-COLOR: #ffffff">&nbsp; </td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<p id="PARA136" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td></tr>
<tr style="BACKGROUND-COLOR: #cceeff">
<td style="VERTICAL-ALIGN: bottom; WIDTH: 93%; BACKGROUND-COLOR: #cceeff">
<p id="PARA137" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.75pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Item&nbsp;2. Unregistered Sales of Equity Securities and Use of Proceeds</font></p></td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<p id="PARA138" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: center; WIDTH: 5%; BACKGROUND-COLOR: #cceeff">&nbsp; 9</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<p id="PARA139" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td></tr>
<tr style="BACKGROUND-COLOR: #ffffff">
<td style="VERTICAL-ALIGN: bottom; WIDTH: 93%; BACKGROUND-COLOR: #ffffff">
<p id="PARA140" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.75pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<p id="PARA141" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 5%; BACKGROUND-COLOR: #ffffff">&nbsp; </td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<p id="PARA142" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td></tr>
<tr style="BACKGROUND-COLOR: #cceeff">
<td style="VERTICAL-ALIGN: bottom; WIDTH: 93%; BACKGROUND-COLOR: #cceeff">
<p id="PARA143" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.75pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Item&nbsp;3. Defaults Upon Senior Securities</font></p></td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<p id="PARA144" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: center; WIDTH: 5%; BACKGROUND-COLOR: #cceeff">&nbsp; 9</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<p id="PARA145" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td></tr>
<tr style="BACKGROUND-COLOR: #ffffff">
<td style="VERTICAL-ALIGN: bottom; WIDTH: 93%; BACKGROUND-COLOR: #ffffff">
<p id="PARA146" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.75pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<p id="PARA147" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 5%; BACKGROUND-COLOR: #ffffff">&nbsp; </td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<p id="PARA148" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td></tr>
<tr style="BACKGROUND-COLOR: #cceeff">
<td style="VERTICAL-ALIGN: bottom; WIDTH: 93%; BACKGROUND-COLOR: #cceeff">
<p id="PARA149" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.75pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Item&nbsp;4. Mine Safety Disclosures</font></p></td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<p id="PARA150" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: center; WIDTH: 5%; BACKGROUND-COLOR: #cceeff">&nbsp; 9</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<p id="PARA151" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td></tr>
<tr style="BACKGROUND-COLOR: #ffffff">
<td style="VERTICAL-ALIGN: bottom; WIDTH: 93%; BACKGROUND-COLOR: #ffffff">
<p id="PARA152" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.75pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<p id="PARA153" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 5%; BACKGROUND-COLOR: #ffffff">&nbsp; </td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<p id="PARA154" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td></tr>
<tr style="BACKGROUND-COLOR: #cceeff">
<td style="VERTICAL-ALIGN: bottom; WIDTH: 93%; BACKGROUND-COLOR: #cceeff">
<p id="PARA155" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.75pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Item&nbsp;5. Other Information</font></p></td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<p id="PARA156" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: center; WIDTH: 5%; BACKGROUND-COLOR: #cceeff">&nbsp; 9</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<p id="PARA157" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td></tr>
<tr style="BACKGROUND-COLOR: #ffffff">
<td style="VERTICAL-ALIGN: bottom; WIDTH: 93%; BACKGROUND-COLOR: #ffffff">
<p id="PARA158" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.75pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<p id="PARA159" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 5%; BACKGROUND-COLOR: #ffffff">&nbsp; </td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<p id="PARA160" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td></tr>
<tr style="BACKGROUND-COLOR: #cceeff">
<td style="VERTICAL-ALIGN: bottom; WIDTH: 93%; BACKGROUND-COLOR: #cceeff">
<p id="PARA161" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.75pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Item&nbsp;6. Exhibits</font></p></td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<p id="PARA162" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: center; WIDTH: 5%; BACKGROUND-COLOR: #cceeff">&nbsp; 9</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<p id="PARA163" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td></tr>
<tr style="BACKGROUND-COLOR: #ffffff">
<td style="VERTICAL-ALIGN: bottom; WIDTH: 93%; BACKGROUND-COLOR: #ffffff">
<p id="PARA164" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.75pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<p id="PARA165" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 5%; BACKGROUND-COLOR: #ffffff">&nbsp; </td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">
<p id="PARA166" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td></tr>
<tr style="BACKGROUND-COLOR: #cceeff">
<td style="VERTICAL-ALIGN: bottom; WIDTH: 93%; BACKGROUND-COLOR: #cceeff">
<p id="PARA167" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.75pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>SIGNATURES</b></font></p></td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<p id="PARA168" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: center; WIDTH: 5%; BACKGROUND-COLOR: #cceeff">&nbsp; 10</td>
<td style="VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">
<p id="PARA169" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td></tr></table>
<p id="PARA174.1" style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&nbsp;</font></p>
<div id="PGBK174" style="MARGIN-LEFT: 0pt; WIDTH: 100%; MARGIN-RIGHT: 0pt">
<div id="PGFTR174" style="TEXT-ALIGN: center; WIDTH: 100%">&nbsp;</div>
<div id="PGNUM174" style="FONT-SIZE: 10pt; TEXT-ALIGN: center; WIDTH: 100%">&nbsp;i</div>
<hr style="HEIGHT: 2px; PAGE-BREAK-AFTER: always; COLOR: #000000; WIDTH: 100%" noshade="">

<div id="PGHDR174" style="TEXT-ALIGN: left; WIDTH: 100%">&nbsp;</div></div>
<p id="PARA174.2" style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&nbsp;</font></p>
<p id="PARA175" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>PART I. FINANCIAL INFORMATION</b></font></p>
<p id="PARA176" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA177" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>Item 1. Financial Statements.</b></font></p>
<p style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><strong></strong>&nbsp;</p>
<p style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25">&nbsp;</p>
<table id="TBL710S1" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px" cellspacing="0" cellpadding="0" border="0">

<tr>
<td style="WIDTH: 2.8%">
<p id="PARA652" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Property Management Corporation of America </font></p></td></tr>
<tr>
<td style="WIDTH: 2.8%">&nbsp; </td></tr>
<tr>
<td style="WIDTH: 2.8%">
<p id="PARA653" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Condensed Balance Sheets </font></p></td></tr>
<tr>
<td style="WIDTH: 2.8%">&nbsp; </td></tr></table>
<p id="PARA916" style="MARGIN: 0pt; LINE-HEIGHT: 1.25">&nbsp;</p>
<div data-td-taggable-table="" data-td-statement-type="balance-sheet"><table id="TBL710S1" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px" cellspacing="0" cellpadding="0" border="0">

<tr id="TBL710.finRow.1">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 70%">&nbsp;</td>
<td id="TBL710.finRow.1.lead.D5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</td>
<td id="TBL710.finRow.1.amt.D5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="2">
<p id="PARA654" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">November 30, 2016</font></p></td>
<td id="TBL710.finRow.1.trail.D5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td>
<td id="TBL710.finRow.1.lead.D6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</td>
<td id="TBL710.finRow.1.amt.D6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="2">
<p id="PARA655" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">February 29, 2016</font></p></td>
<td id="TBL710.finRow.1.trail.D6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td></tr>
<tr id="TBL710.finRow.2">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 70%"><b>&nbsp;</b></td>
<td id="TBL710.finRow.2.lead.D5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>&nbsp;</b></td>
<td id="TBL710.finRow.2.amt.D5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: center" colspan="2">
<p id="PARA656" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>(Unaudited)</b></font></p></td>
<td id="TBL710.finRow.2.trail.D5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>&nbsp;</b></td>
<td id="TBL710.finRow.2.lead.B6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>&nbsp;</b></td>
<td id="TBL710.finRow.2.symb.B6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>&nbsp;</b></td>
<td id="TBL710.finRow.2.amt.B6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center"><b>&nbsp;</b></td>
<td id="TBL710.finRow.2.trail.B6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>&nbsp;</b></td></tr>
<tr id="TBL710.finRow.3">
<td style="WIDTH: 70%">&nbsp;</td>
<td id="TBL710.finRow.3.lead.B5">&nbsp;</td>
<td id="TBL710.finRow.3.symb.B5">&nbsp;</td>
<td id="TBL710.finRow.3.amt.B5">&nbsp;</td>
<td id="TBL710.finRow.3.trail.B5">&nbsp;</td>
<td id="TBL710.finRow.3.lead.B6">&nbsp;</td>
<td id="TBL710.finRow.3.symb.B6">&nbsp;</td>
<td id="TBL710.finRow.3.amt.B6">&nbsp;</td>
<td id="TBL710.finRow.3.trail.B6">&nbsp;</td></tr>
<tr id="TBL710.finRow.4" style="BACKGROUND-COLOR: #cceeff">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 70%; BACKGROUND-COLOR: #cceeff">
<p id="PARA657" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>ASSETS </b></font></p></td>
<td id="TBL710.finRow.4.lead.B5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #cceeff"><b>&nbsp;</b></td>
<td id="TBL710.finRow.4.symb.B5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #cceeff"><b>&nbsp;</b></td>
<td id="TBL710.finRow.4.amt.B5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff"><b>&nbsp;</b></td>
<td id="TBL710.finRow.4.trail.B5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #cceeff"><b>&nbsp;</b></td>
<td id="TBL710.finRow.4.lead.B6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #cceeff"><b>&nbsp;</b></td>
<td id="TBL710.finRow.4.symb.B6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #cceeff"><b>&nbsp;</b></td>
<td id="TBL710.finRow.4.amt.B6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff"><b>&nbsp;</b></td>
<td id="TBL710.finRow.4.trail.B6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #cceeff"><b>&nbsp;</b></td></tr>
<tr id="TBL710.finRow.5" style="BACKGROUND-COLOR: #ffffff">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 70%; BACKGROUND-COLOR: #ffffff">
<p id="PARA658" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">CURRENT ASSETS: </font></p></td>
<td id="TBL710.finRow.5.lead.B5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL710.finRow.5.symb.B5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL710.finRow.5.amt.B5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL710.finRow.5.trail.B5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL710.finRow.5.lead.B6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL710.finRow.5.symb.B6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL710.finRow.5.amt.B6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL710.finRow.5.trail.B6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #ffffff">&nbsp;</td></tr>
<tr id="TBL710.finRow.6" style="BACKGROUND-COLOR: #cceeff">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-LEFT: 9pt; WIDTH: 70%; BACKGROUND-COLOR: #cceeff">
<p id="PARA659" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Cash </font></p></td>
<td id="TBL710.finRow.6.lead.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL710.finRow.6.symb.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">$</td>
<td id="TBL710.finRow.6.amt.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">117 </td>
<td id="TBL710.finRow.6.trail.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">&nbsp;</td>
<td id="TBL710.finRow.6.lead.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL710.finRow.6.symb.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">$</td>
<td id="TBL710.finRow.6.amt.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">2,154 </td>
<td id="TBL710.finRow.6.trail.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">&nbsp;</td></tr>
<tr id="TBL710.finRow.7" style="BACKGROUND-COLOR: #ffffff">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-LEFT: 9pt; WIDTH: 70%; BACKGROUND-COLOR: #ffffff">
<p id="PARA664" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Management fee receivable-related party </font></p></td>
<td id="TBL710.finRow.7.lead.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL710.finRow.7.symb.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL710.finRow.7.amt.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">2,432 </td>
<td id="TBL710.finRow.7.trail.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" nowrap="">&nbsp;</td>
<td id="TBL710.finRow.7.lead.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL710.finRow.7.symb.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL710.finRow.7.amt.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">- </td>
<td id="TBL710.finRow.7.trail.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" nowrap="">&nbsp;</td></tr>
<tr id="TBL710.finRow.8" style="BACKGROUND-COLOR: #cceeff">
<td style="WIDTH: 70%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL710.finRow.8.lead.B5" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL710.finRow.8.symb.B5" style="BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL710.finRow.8.amt.B5" style="BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL710.finRow.8.trail.B5" style="BORDER-BOTTOM: medium none; PADDING-BOTTOM: 1px; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL710.finRow.8.lead.B6" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL710.finRow.8.symb.B6" style="BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL710.finRow.8.amt.B6" style="BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL710.finRow.8.trail.B6" style="BORDER-BOTTOM: medium none; PADDING-BOTTOM: 1px; BACKGROUND-COLOR: #cceeff">&nbsp;</td></tr>
<tr id="TBL710.finRow.9" style="BACKGROUND-COLOR: #ffffff">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-LEFT: 18pt; WIDTH: 70%; BACKGROUND-COLOR: #ffffff">
<p id="PARA667" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Total Current Assets </font></p></td>
<td id="TBL710.finRow.9.lead.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL710.finRow.9.symb.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">$</td>
<td id="TBL710.finRow.9.amt.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">2,549 </td>
<td id="TBL710.finRow.9.trail.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" nowrap="">&nbsp;</td>
<td id="TBL710.finRow.9.lead.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL710.finRow.9.symb.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">$</td>
<td id="TBL710.finRow.9.amt.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">2,154 </td>
<td id="TBL710.finRow.9.trail.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" nowrap="">&nbsp;</td></tr>
<tr id="TBL710.finRow.10" style="BACKGROUND-COLOR: #cceeff">
<td style="WIDTH: 70%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL710.finRow.10.lead.B5" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL710.finRow.10.symb.B5" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL710.finRow.10.amt.B5" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL710.finRow.10.trail.B5" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL710.finRow.10.lead.B6" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL710.finRow.10.symb.B6" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL710.finRow.10.amt.B6" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL710.finRow.10.trail.B6" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td></tr>
<tr id="TBL710.finRow.11" style="BACKGROUND-COLOR: #ffffff">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 70%; BACKGROUND-COLOR: #ffffff">
<p id="PARA672" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>LIABILITIES AND STOCKHOLDERS' DEFICIT </b></font></p></td>
<td id="TBL710.finRow.11.lead.B5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #ffffff"><b>&nbsp;</b></td>
<td id="TBL710.finRow.11.symb.B5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #ffffff"><b>&nbsp;</b></td>
<td id="TBL710.finRow.11.amt.B5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff"><b>&nbsp;</b></td>
<td id="TBL710.finRow.11.trail.B5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #ffffff"><b>&nbsp;</b></td>
<td id="TBL710.finRow.11.lead.B6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #ffffff"><b>&nbsp;</b></td>
<td id="TBL710.finRow.11.symb.B6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #ffffff"><b>&nbsp;</b></td>
<td id="TBL710.finRow.11.amt.B6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff"><b>&nbsp;</b></td>
<td id="TBL710.finRow.11.trail.B6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #ffffff"><b>&nbsp;</b></td></tr>
<tr id="TBL710.finRow.12" style="BACKGROUND-COLOR: #cceeff">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 70%; BACKGROUND-COLOR: #cceeff">
<p id="PARA673" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">CURRENT LIABILITIES: </font></p></td>
<td id="TBL710.finRow.12.lead.B5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL710.finRow.12.symb.B5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL710.finRow.12.amt.B5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL710.finRow.12.trail.B5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL710.finRow.12.lead.B6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL710.finRow.12.symb.B6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL710.finRow.12.amt.B6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL710.finRow.12.trail.B6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #cceeff">&nbsp;</td></tr>
<tr id="TBL710.finRow.14" style="BACKGROUND-COLOR: #ffffff">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-LEFT: 18pt; WIDTH: 70%; BACKGROUND-COLOR: #ffffff; TEXT-INDENT: -9pt">
<p id="PARA675" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Accounts payable and accrued expenses (including $9,356 and $5,894, </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">respectively, due to related party) </font></p></td>
<td id="TBL710.finRow.14.lead.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL710.finRow.14.symb.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">$</td>
<td id="TBL710.finRow.14.amt.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">23,753 </td>
<td id="TBL710.finRow.14.trail.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" nowrap="">&nbsp;</td>
<td id="TBL710.finRow.14.lead.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL710.finRow.14.symb.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">$</td>
<td id="TBL710.finRow.14.amt.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">12,310 </td>
<td id="TBL710.finRow.14.trail.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" nowrap="">&nbsp;</td></tr>
<tr id="TBL710.finRow.15" style="BACKGROUND-COLOR: #cceeff">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-LEFT: 9pt; WIDTH: 70%; BACKGROUND-COLOR: #cceeff">
<p id="PARA680" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Notes payable - related party </font></p></td>
<td id="TBL710.finRow.15.lead.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL710.finRow.15.symb.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL710.finRow.15.amt.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">27,500 </td>
<td id="TBL710.finRow.15.trail.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">&nbsp;</td>
<td id="TBL710.finRow.15.lead.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL710.finRow.15.symb.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL710.finRow.15.amt.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">27,500 </td>
<td id="TBL710.finRow.15.trail.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">&nbsp;</td></tr>
<tr id="TBL710.finRow.16" style="BACKGROUND-COLOR: #ffffff">
<td style="WIDTH: 70%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL710.finRow.16.lead.B5" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL710.finRow.16.symb.B5" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL710.finRow.16.amt.B5" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL710.finRow.16.trail.B5" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL710.finRow.16.lead.B6" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL710.finRow.16.symb.B6" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL710.finRow.16.amt.B6" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL710.finRow.16.trail.B6" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td></tr>
<tr id="TBL710.finRow.17" style="BACKGROUND-COLOR: #cceeff">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-LEFT: 18pt; WIDTH: 70%; BACKGROUND-COLOR: #cceeff">
<p id="PARA683" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Total Current Liabilities </font></p></td>
<td id="TBL710.finRow.17.lead.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL710.finRow.17.symb.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL710.finRow.17.amt.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">51,253 </td>
<td id="TBL710.finRow.17.trail.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">&nbsp;</td>
<td id="TBL710.finRow.17.lead.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL710.finRow.17.symb.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL710.finRow.17.amt.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">39,810 </td>
<td id="TBL710.finRow.17.trail.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">&nbsp;</td></tr>
<tr id="TBL710.finRow.18" style="BACKGROUND-COLOR: #ffffff">
<td style="WIDTH: 70%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL710.finRow.18.lead.B5" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL710.finRow.18.symb.B5" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL710.finRow.18.amt.B5" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL710.finRow.18.trail.B5" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL710.finRow.18.lead.B6" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL710.finRow.18.symb.B6" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL710.finRow.18.amt.B6" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL710.finRow.18.trail.B6" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td></tr>
<tr id="TBL710.finRow.19" style="BACKGROUND-COLOR: #cceeff">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 70%; BACKGROUND-COLOR: #cceeff">
<p id="PARA686" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">STOCKHOLDERS' DEFICIT: </font></p></td>
<td id="TBL710.finRow.19.lead.B5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL710.finRow.19.symb.B5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL710.finRow.19.amt.B5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL710.finRow.19.trail.B5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL710.finRow.19.lead.B6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL710.finRow.19.symb.B6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL710.finRow.19.amt.B6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL710.finRow.19.trail.B6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #cceeff">&nbsp;</td></tr>
<tr id="TBL710.finRow.21" style="BACKGROUND-COLOR: #ffffff">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-LEFT: 18pt; WIDTH: 70%; BACKGROUND-COLOR: #ffffff; TEXT-INDENT: -9pt">
<p id="PARA688" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Preferred stock par value $0.0001: 1,000,000 shares authorized; </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">none issued or outstanding </font></p></td>
<td id="TBL710.finRow.21.lead.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL710.finRow.21.symb.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL710.finRow.21.amt.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">- </td>
<td id="TBL710.finRow.21.trail.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" nowrap="">&nbsp;</td>
<td id="TBL710.finRow.21.lead.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL710.finRow.21.symb.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL710.finRow.21.amt.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">- </td>
<td id="TBL710.finRow.21.trail.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" nowrap="">&nbsp;</td></tr>
<tr id="TBL710.finRow.23" style="BACKGROUND-COLOR: #cceeff">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-LEFT: 18pt; WIDTH: 70%; BACKGROUND-COLOR: #cceeff; TEXT-INDENT: -9pt">
<p id="PARA692" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Common stock par value $0.0001: 18,000,000 shares authorized; </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">10,307,000 shares issued and outstanding </font></p></td>
<td id="TBL710.finRow.23.lead.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL710.finRow.23.symb.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL710.finRow.23.amt.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">1,031 </td>
<td id="TBL710.finRow.23.trail.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">&nbsp;</td>
<td id="TBL710.finRow.23.lead.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL710.finRow.23.symb.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL710.finRow.23.amt.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">1,031 </td>
<td id="TBL710.finRow.23.trail.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">&nbsp;</td></tr>
<tr id="TBL710.finRow.24" style="BACKGROUND-COLOR: #ffffff">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-LEFT: 18pt; WIDTH: 70%; BACKGROUND-COLOR: #ffffff; TEXT-INDENT: -9pt">
<p id="PARA695" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Additional paid-in capital </font></p></td>
<td id="TBL710.finRow.24.lead.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL710.finRow.24.symb.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL710.finRow.24.amt.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">65,219 </td>
<td id="TBL710.finRow.24.trail.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" nowrap="">&nbsp;</td>
<td id="TBL710.finRow.24.lead.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL710.finRow.24.symb.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL710.finRow.24.amt.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">65,219 </td>
<td id="TBL710.finRow.24.trail.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" nowrap="">&nbsp;</td></tr>
<tr id="TBL710.finRow.25" style="BACKGROUND-COLOR: #cceeff">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-LEFT: 18pt; WIDTH: 70%; BACKGROUND-COLOR: #cceeff; TEXT-INDENT: -9pt">
<p id="PARA698" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Accumulated deficit </font></p></td>
<td id="TBL710.finRow.25.lead.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL710.finRow.25.symb.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL710.finRow.25.amt.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">(114,954</td>
<td id="TBL710.finRow.25.trail.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">)</td>
<td id="TBL710.finRow.25.lead.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL710.finRow.25.symb.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL710.finRow.25.amt.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">(103,906</td>
<td id="TBL710.finRow.25.trail.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">)</td></tr>
<tr id="TBL710.finRow.26" style="BACKGROUND-COLOR: #ffffff">
<td style="WIDTH: 70%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL710.finRow.26.lead.B5" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL710.finRow.26.symb.B5" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL710.finRow.26.amt.B5" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL710.finRow.26.trail.B5" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL710.finRow.26.lead.B6" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL710.finRow.26.symb.B6" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL710.finRow.26.amt.B6" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL710.finRow.26.trail.B6" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td></tr>
<tr id="TBL710.finRow.27" style="BACKGROUND-COLOR: #cceeff">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-LEFT: 18pt; WIDTH: 70%; BACKGROUND-COLOR: #cceeff">
<p id="PARA701" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Total Stockholders' Deficit </font></p></td>
<td id="TBL710.finRow.27.lead.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL710.finRow.27.symb.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL710.finRow.27.amt.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">(48,704</td>
<td id="TBL710.finRow.27.trail.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">)</td>
<td id="TBL710.finRow.27.lead.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL710.finRow.27.symb.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL710.finRow.27.amt.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">(37,656</td>
<td id="TBL710.finRow.27.trail.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">)</td></tr>
<tr id="TBL710.finRow.28" style="BACKGROUND-COLOR: #ffffff">
<td style="WIDTH: 70%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL710.finRow.28.lead.B5" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL710.finRow.28.symb.B5" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL710.finRow.28.amt.B5" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL710.finRow.28.trail.B5" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL710.finRow.28.lead.B6" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL710.finRow.28.symb.B6" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL710.finRow.28.amt.B6" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL710.finRow.28.trail.B6" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td></tr>
<tr id="TBL710.finRow.29" style="BACKGROUND-COLOR: #cceeff">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-LEFT: 27pt; WIDTH: 70%; BACKGROUND-COLOR: #cceeff">
<p id="PARA704" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Total Liabilities and Stockholders' Deficit </font></p></td>
<td id="TBL710.finRow.29.lead.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL710.finRow.29.symb.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">$</td>
<td id="TBL710.finRow.29.amt.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">2,549 </td>
<td id="TBL710.finRow.29.trail.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">&nbsp;</td>
<td id="TBL710.finRow.29.lead.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL710.finRow.29.symb.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">$</td>
<td id="TBL710.finRow.29.amt.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">2,154 </td>
<td id="TBL710.finRow.29.trail.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">&nbsp;</td></tr></table></div>
<p id="PARA917" style="MARGIN: 0pt; LINE-HEIGHT: 1.25">&nbsp;</p>
<table id="TBL710" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px" cellspacing="0" cellpadding="0" border="0">

<tr id="TBL710.finRow.31">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: center; WIDTH: 70%">
<p id="PARA709" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><i>See accompanying notes to the condensed financial statements. </i></font></p></td></tr></table>
<p id="PARA178" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<div id="PGBK711" style="MARGIN-LEFT: 0pt; WIDTH: 100%; MARGIN-RIGHT: 0pt">
<div id="PGFTR711" style="TEXT-ALIGN: center; WIDTH: 100%">&nbsp;</div>
<div id="PGNUM711" style="FONT-SIZE: 10pt; TEXT-ALIGN: center; WIDTH: 100%">F-2&nbsp;</div>
<hr style="HEIGHT: 2px; PAGE-BREAK-AFTER: always; COLOR: #000000; WIDTH: 100%" noshade="">

<div id="PGHDR711" style="TEXT-ALIGN: left; WIDTH: 100%">&nbsp;</div></div>
<p id="PARA711.2" style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&nbsp;</font></p>
<table id="TBL800S1" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px" cellspacing="0" cellpadding="0" border="0">

<tr>
<td style="WIDTH: 2.4%">
<p id="PARA712" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Property Management Corporation of America </font></p></td></tr>
<tr>
<td style="WIDTH: 2.4%">&nbsp; </td></tr>
<tr>
<td style="WIDTH: 2.4%">
<p id="PARA713" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Condensed Statements of Operations </font></p></td></tr>
<tr>
<td style="WIDTH: 2.4%">&nbsp; </td></tr></table>
<p id="PARA918" style="MARGIN: 0pt; LINE-HEIGHT: 1.25">&nbsp;</p>
<div data-td-taggable-table="" data-td-statement-type="income"><table id="TBL1022S1" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px" cellspacing="0" cellpadding="0" border="0">

<tr id="TBL1022S1.finRow.1">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 32%">&nbsp;</td>
<td id="TBL1022S1.finRow.1.lead.D4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%">&nbsp;</td>
<td id="TBL1022S1.finRow.1.amt.D4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: center; WIDTH: 1%" colspan="2">
<p id="PARA919" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">For the Three Months</font></p></td>
<td id="TBL1022S1.finRow.1.trail.D4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%">&nbsp;</td>
<td id="TBL1022S1.finRow.1.lead.D5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%">&nbsp;</td>
<td id="TBL1022S1.finRow.1.amt.D5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: center; WIDTH: 1%" colspan="2">
<p id="PARA920" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">For the Three Months</font></p></td>
<td id="TBL1022S1.finRow.1.trail.D5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%">&nbsp;</td>
<td id="TBL1022S1.finRow.1.lead.D6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%">&nbsp;</td>
<td id="TBL1022S1.finRow.1.amt.D6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: center; WIDTH: 1%" colspan="2">
<p id="PARA921" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">For the Nine Months</font></p></td>
<td id="TBL1022S1.finRow.1.trail.D6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%">&nbsp;</td>
<td id="TBL1022S1.finRow.1.lead.D7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%">&nbsp;</td>
<td id="TBL1022S1.finRow.1.amt.D7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: center; WIDTH: 1%" colspan="2">
<p id="PARA922" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">For the Nine Months</font></p></td>
<td id="TBL1022S1.finRow.1.trail.D7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%">&nbsp;</td></tr>
<tr id="TBL1022S1.finRow.2">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 32%">&nbsp;</td>
<td id="TBL1022S1.finRow.2.lead.D4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%">&nbsp;</td>
<td id="TBL1022S1.finRow.2.amt.D4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: center; WIDTH: 1%" colspan="2">
<p id="PARA923" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Ended</font></p></td>
<td id="TBL1022S1.finRow.2.trail.D4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%">&nbsp;</td>
<td id="TBL1022S1.finRow.2.lead.D5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%">&nbsp;</td>
<td id="TBL1022S1.finRow.2.amt.D5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: center; WIDTH: 1%" colspan="2">
<p id="PARA924" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Ended</font></p></td>
<td id="TBL1022S1.finRow.2.trail.D5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%">&nbsp;</td>
<td id="TBL1022S1.finRow.2.lead.D6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%">&nbsp;</td>
<td id="TBL1022S1.finRow.2.amt.D6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: center; WIDTH: 1%" colspan="2">
<p id="PARA925" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Ended</font></p></td>
<td id="TBL1022S1.finRow.2.trail.D6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%">&nbsp;</td>
<td id="TBL1022S1.finRow.2.lead.D7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%">&nbsp;</td>
<td id="TBL1022S1.finRow.2.amt.D7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: center; WIDTH: 1%" colspan="2">
<p id="PARA926" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Ended</font></p></td>
<td id="TBL1022S1.finRow.2.trail.D7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%">&nbsp;</td></tr>
<tr id="TBL1022S1.finRow.3">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 32%">&nbsp;</td>
<td id="TBL1022S1.finRow.3.lead.D4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%">&nbsp;</td>
<td id="TBL1022S1.finRow.3.amt.D4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; WIDTH: 1%" colspan="2">
<p id="PARA927" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">November 30, 2016</font></p></td>
<td id="TBL1022S1.finRow.3.trail.D4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-BOTTOM: 1px; WIDTH: 1%">&nbsp;</td>
<td id="TBL1022S1.finRow.3.lead.D5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%">&nbsp;</td>
<td id="TBL1022S1.finRow.3.amt.D5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; WIDTH: 1%" colspan="2">
<p id="PARA928" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">November 30, 2015</font></p></td>
<td id="TBL1022S1.finRow.3.trail.D5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-BOTTOM: 1px; WIDTH: 1%">&nbsp;</td>
<td id="TBL1022S1.finRow.3.lead.D6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%">&nbsp;</td>
<td id="TBL1022S1.finRow.3.amt.D6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; WIDTH: 1%" colspan="2">
<p id="PARA929" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">November 30, 2016</font></p></td>
<td id="TBL1022S1.finRow.3.trail.D6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-BOTTOM: 1px; WIDTH: 1%">&nbsp;</td>
<td id="TBL1022S1.finRow.3.lead.D7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%">&nbsp;</td>
<td id="TBL1022S1.finRow.3.amt.D7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; WIDTH: 1%" colspan="2">
<p id="PARA930" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">November 30, 2015</font></p></td>
<td id="TBL1022S1.finRow.3.trail.D7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-BOTTOM: 1px; WIDTH: 1%">&nbsp;</td></tr>
<tr id="TBL1022S1.finRow.4">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 32%"><b>&nbsp;</b></td>
<td id="TBL1022S1.finRow.4.lead.D4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%"><b>&nbsp;</b></td>
<td id="TBL1022S1.finRow.4.amt.D4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: center; WIDTH: 1%" colspan="2">
<p id="PARA931" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>(Unaudited)</b></font></p></td>
<td id="TBL1022S1.finRow.4.trail.D4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%"><b>&nbsp;</b></td>
<td id="TBL1022S1.finRow.4.lead.D5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%"><b>&nbsp;</b></td>
<td id="TBL1022S1.finRow.4.amt.D5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: center; WIDTH: 1%" colspan="2">
<p id="PARA932" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>(Unaudited)</b></font></p></td>
<td id="TBL1022S1.finRow.4.trail.D5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%"><b>&nbsp;</b></td>
<td id="TBL1022S1.finRow.4.lead.D6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%"><b>&nbsp;</b></td>
<td id="TBL1022S1.finRow.4.amt.D6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: center; WIDTH: 1%" colspan="2">
<p id="PARA933" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>(Unaudited)</b></font></p></td>
<td id="TBL1022S1.finRow.4.trail.D6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%"><b>&nbsp;</b></td>
<td id="TBL1022S1.finRow.4.lead.D7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%"><b>&nbsp;</b></td>
<td id="TBL1022S1.finRow.4.amt.D7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: center; WIDTH: 1%" colspan="2">
<p id="PARA934" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>(Unaudited)</b></font></p></td>
<td id="TBL1022S1.finRow.4.trail.D7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%"><b>&nbsp;</b></td></tr>
<tr id="TBL1022S1.finRow.5">
<td style="WIDTH: 32%">&nbsp;</td>
<td id="TBL1022S1.finRow.5.lead.B4" style="WIDTH: 1%">&nbsp;</td>
<td id="TBL1022S1.finRow.5.symb.B4" style="WIDTH: 1%">&nbsp;</td>
<td id="TBL1022S1.finRow.5.amt.B4" style="WIDTH: 14%">&nbsp;</td>
<td id="TBL1022S1.finRow.5.trail.B4" style="WIDTH: 1%">&nbsp;</td>
<td id="TBL1022S1.finRow.5.lead.B5" style="WIDTH: 1%">&nbsp;</td>
<td id="TBL1022S1.finRow.5.symb.B5" style="WIDTH: 1%">&nbsp;</td>
<td id="TBL1022S1.finRow.5.amt.B5" style="WIDTH: 14%">&nbsp;</td>
<td id="TBL1022S1.finRow.5.trail.B5" style="WIDTH: 1%">&nbsp;</td>
<td id="TBL1022S1.finRow.5.lead.B6" style="WIDTH: 1%">&nbsp;</td>
<td id="TBL1022S1.finRow.5.symb.B6" style="WIDTH: 1%">&nbsp;</td>
<td id="TBL1022S1.finRow.5.amt.B6" style="WIDTH: 14%">&nbsp;</td>
<td id="TBL1022S1.finRow.5.trail.B6" style="WIDTH: 1%">&nbsp;</td>
<td id="TBL1022S1.finRow.5.lead.B7" style="WIDTH: 1%">&nbsp;</td>
<td id="TBL1022S1.finRow.5.symb.B7" style="WIDTH: 1%">&nbsp;</td>
<td id="TBL1022S1.finRow.5.amt.B7" style="WIDTH: 14%">&nbsp;</td>
<td id="TBL1022S1.finRow.5.trail.B7" style="WIDTH: 1%">&nbsp;</td></tr>
<tr id="TBL1022S1.finRow.6" style="BACKGROUND-COLOR: #cceeff">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 32%; BACKGROUND-COLOR: #cceeff">
<p id="PARA935" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Revenue - related parties </font></p></td>
<td id="TBL1022S1.finRow.6.lead.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.6.symb.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">$</td>
<td id="TBL1022S1.finRow.6.amt.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #cceeff">3,635 </td>
<td id="TBL1022S1.finRow.6.trail.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">&nbsp;</td>
<td id="TBL1022S1.finRow.6.lead.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.6.symb.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">$</td>
<td id="TBL1022S1.finRow.6.amt.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #cceeff">3,339 </td>
<td id="TBL1022S1.finRow.6.trail.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">&nbsp;</td>
<td id="TBL1022S1.finRow.6.lead.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.6.symb.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">$</td>
<td id="TBL1022S1.finRow.6.amt.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #cceeff">10,722 </td>
<td id="TBL1022S1.finRow.6.trail.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">&nbsp;</td>
<td id="TBL1022S1.finRow.6.lead.7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.6.symb.7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">$</td>
<td id="TBL1022S1.finRow.6.amt.7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #cceeff">10,609 </td>
<td id="TBL1022S1.finRow.6.trail.7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">&nbsp;</td></tr>
<tr id="TBL1022S1.finRow.7" style="BACKGROUND-COLOR: #ffffff">
<td style="WIDTH: 32%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.7.lead.B4" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.7.symb.B4" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.7.amt.B4" style="WIDTH: 14%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.7.trail.B4" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.7.lead.B5" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.7.symb.B5" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.7.amt.B5" style="WIDTH: 14%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.7.trail.B5" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.7.lead.B6" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.7.symb.B6" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.7.amt.B6" style="WIDTH: 14%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.7.trail.B6" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.7.lead.B7" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.7.symb.B7" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.7.amt.B7" style="WIDTH: 14%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.7.trail.B7" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td></tr>
<tr id="TBL1022S1.finRow.8" style="BACKGROUND-COLOR: #cceeff">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 32%; BACKGROUND-COLOR: #cceeff">
<p id="PARA944" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Cost of revenue </font></p></td>
<td id="TBL1022S1.finRow.8.lead.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.8.symb.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.8.amt.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #cceeff">1,636 </td>
<td id="TBL1022S1.finRow.8.trail.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">&nbsp;</td>
<td id="TBL1022S1.finRow.8.lead.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.8.symb.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.8.amt.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #cceeff">1,647 </td>
<td id="TBL1022S1.finRow.8.trail.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">&nbsp;</td>
<td id="TBL1022S1.finRow.8.lead.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.8.symb.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.8.amt.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #cceeff">4,825 </td>
<td id="TBL1022S1.finRow.8.trail.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">&nbsp;</td>
<td id="TBL1022S1.finRow.8.lead.7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.8.symb.7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.8.amt.7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #cceeff">4,878 </td>
<td id="TBL1022S1.finRow.8.trail.7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">&nbsp;</td></tr>
<tr id="TBL1022S1.finRow.9" style="BACKGROUND-COLOR: #ffffff">
<td style="WIDTH: 32%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.9.lead.B4" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.9.symb.B4" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.9.amt.B4" style="WIDTH: 14%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.9.trail.B4" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.9.lead.B5" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.9.symb.B5" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.9.amt.B5" style="WIDTH: 14%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.9.trail.B5" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.9.lead.B6" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.9.symb.B6" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.9.amt.B6" style="WIDTH: 14%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.9.trail.B6" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.9.lead.B7" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.9.symb.B7" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.9.amt.B7" style="WIDTH: 14%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.9.trail.B7" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td></tr>
<tr id="TBL1022S1.finRow.10" style="BACKGROUND-COLOR: #cceeff">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 32%; BACKGROUND-COLOR: #cceeff">
<p id="PARA949" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Gross margin </font></p></td>
<td id="TBL1022S1.finRow.10.lead.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.10.symb.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.10.amt.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #cceeff">1,999 </td>
<td id="TBL1022S1.finRow.10.trail.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">&nbsp;</td>
<td id="TBL1022S1.finRow.10.lead.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.10.symb.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.10.amt.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #cceeff">1,692 </td>
<td id="TBL1022S1.finRow.10.trail.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">&nbsp;</td>
<td id="TBL1022S1.finRow.10.lead.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.10.symb.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.10.amt.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #cceeff">5,897 </td>
<td id="TBL1022S1.finRow.10.trail.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">&nbsp;</td>
<td id="TBL1022S1.finRow.10.lead.7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.10.symb.7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.10.amt.7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #cceeff">5,731 </td>
<td id="TBL1022S1.finRow.10.trail.7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">&nbsp;</td></tr>
<tr id="TBL1022S1.finRow.11" style="BACKGROUND-COLOR: #ffffff">
<td style="WIDTH: 32%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.11.lead.B4" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.11.symb.B4" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.11.amt.B4" style="WIDTH: 14%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.11.trail.B4" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.11.lead.B5" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.11.symb.B5" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.11.amt.B5" style="WIDTH: 14%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.11.trail.B5" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.11.lead.B6" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.11.symb.B6" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.11.amt.B6" style="WIDTH: 14%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.11.trail.B6" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.11.lead.B7" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.11.symb.B7" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.11.amt.B7" style="WIDTH: 14%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.11.trail.B7" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td></tr>
<tr id="TBL1022S1.finRow.12" style="BACKGROUND-COLOR: #cceeff">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 32%; BACKGROUND-COLOR: #cceeff">
<p id="PARA954" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Operating expenses </font></p></td>
<td id="TBL1022S1.finRow.12.lead.B4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.12.symb.B4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.12.amt.B4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; WIDTH: 14%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.12.trail.B4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.12.lead.B5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.12.symb.B5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.12.amt.B5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; WIDTH: 14%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.12.trail.B5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.12.lead.B6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.12.symb.B6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.12.amt.B6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; WIDTH: 14%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.12.trail.B6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.12.lead.B7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.12.symb.B7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.12.amt.B7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; WIDTH: 14%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.12.trail.B7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td></tr>
<tr id="TBL1022S1.finRow.13" style="BACKGROUND-COLOR: #ffffff">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-LEFT: 9pt; WIDTH: 32%; BACKGROUND-COLOR: #ffffff">
<p id="PARA955" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Professional fees </font></p></td>
<td id="TBL1022S1.finRow.13.lead.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.13.symb.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.13.amt.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #ffffff">2,000 </td>
<td id="TBL1022S1.finRow.13.trail.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" nowrap="">&nbsp;</td>
<td id="TBL1022S1.finRow.13.lead.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.13.symb.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.13.amt.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #ffffff">1,500 </td>
<td id="TBL1022S1.finRow.13.trail.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" nowrap="">&nbsp;</td>
<td id="TBL1022S1.finRow.13.lead.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.13.symb.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.13.amt.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #ffffff">8,438 </td>
<td id="TBL1022S1.finRow.13.trail.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" nowrap="">&nbsp;</td>
<td id="TBL1022S1.finRow.13.lead.7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.13.symb.7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.13.amt.7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #ffffff">10,260 </td>
<td id="TBL1022S1.finRow.13.trail.7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" nowrap="">&nbsp;</td></tr>
<tr id="TBL1022S1.finRow.14" style="BACKGROUND-COLOR: #cceeff">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-LEFT: 9pt; WIDTH: 32%; BACKGROUND-COLOR: #cceeff">
<p id="PARA960" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">General and administrative </font></p></td>
<td id="TBL1022S1.finRow.14.lead.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.14.symb.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.14.amt.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #cceeff">1,188 </td>
<td id="TBL1022S1.finRow.14.trail.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">&nbsp;</td>
<td id="TBL1022S1.finRow.14.lead.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.14.symb.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.14.amt.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #cceeff">3,606 </td>
<td id="TBL1022S1.finRow.14.trail.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">&nbsp;</td>
<td id="TBL1022S1.finRow.14.lead.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.14.symb.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.14.amt.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #cceeff">5,046 </td>
<td id="TBL1022S1.finRow.14.trail.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">&nbsp;</td>
<td id="TBL1022S1.finRow.14.lead.7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.14.symb.7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.14.amt.7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #cceeff">12,058 </td>
<td id="TBL1022S1.finRow.14.trail.7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">&nbsp;</td></tr>
<tr id="TBL1022S1.finRow.15" style="BACKGROUND-COLOR: #ffffff">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-LEFT: 9pt; WIDTH: 32%; BACKGROUND-COLOR: #ffffff">
<p id="PARA965" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Rent - related party </font></p></td>
<td id="TBL1022S1.finRow.15.lead.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.15.symb.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.15.amt.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #ffffff">1,050 </td>
<td id="TBL1022S1.finRow.15.trail.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" nowrap="">&nbsp;</td>
<td id="TBL1022S1.finRow.15.lead.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.15.symb.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.15.amt.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #ffffff">1,050 </td>
<td id="TBL1022S1.finRow.15.trail.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" nowrap="">&nbsp;</td>
<td id="TBL1022S1.finRow.15.lead.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.15.symb.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.15.amt.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #ffffff">3,150 </td>
<td id="TBL1022S1.finRow.15.trail.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" nowrap="">&nbsp;</td>
<td id="TBL1022S1.finRow.15.lead.7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.15.symb.7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.15.amt.7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #ffffff">3,150 </td>
<td id="TBL1022S1.finRow.15.trail.7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" nowrap="">&nbsp;</td></tr>
<tr id="TBL1022S1.finRow.16" style="BACKGROUND-COLOR: #cceeff">
<td style="PADDING-LEFT: 9pt; WIDTH: 32%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.16.lead.B4" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.16.symb.B4" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.16.amt.B4" style="WIDTH: 14%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.16.trail.B4" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.16.lead.B5" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.16.symb.B5" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.16.amt.B5" style="WIDTH: 14%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.16.trail.B5" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.16.lead.B6" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.16.symb.B6" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.16.amt.B6" style="WIDTH: 14%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.16.trail.B6" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.16.lead.B7" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.16.symb.B7" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.16.amt.B7" style="WIDTH: 14%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.16.trail.B7" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td></tr>
<tr id="TBL1022S1.finRow.17" style="BACKGROUND-COLOR: #ffffff">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-LEFT: 18pt; WIDTH: 32%; BACKGROUND-COLOR: #ffffff">
<p id="PARA970" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Total operating expenses </font></p></td>
<td id="TBL1022S1.finRow.17.lead.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.17.symb.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.17.amt.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #ffffff">4,238 </td>
<td id="TBL1022S1.finRow.17.trail.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" nowrap="">&nbsp;</td>
<td id="TBL1022S1.finRow.17.lead.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.17.symb.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.17.amt.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #ffffff">6,156 </td>
<td id="TBL1022S1.finRow.17.trail.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" nowrap="">&nbsp;</td>
<td id="TBL1022S1.finRow.17.lead.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.17.symb.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.17.amt.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #ffffff">16,634 </td>
<td id="TBL1022S1.finRow.17.trail.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" nowrap="">&nbsp;</td>
<td id="TBL1022S1.finRow.17.lead.7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.17.symb.7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.17.amt.7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #ffffff">25,468 </td>
<td id="TBL1022S1.finRow.17.trail.7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" nowrap="">&nbsp;</td></tr>
<tr id="TBL1022S1.finRow.18" style="BACKGROUND-COLOR: #cceeff">
<td style="WIDTH: 32%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.18.lead.B4" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.18.symb.B4" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.18.amt.B4" style="WIDTH: 14%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.18.trail.B4" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.18.lead.B5" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.18.symb.B5" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.18.amt.B5" style="WIDTH: 14%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.18.trail.B5" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.18.lead.B6" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.18.symb.B6" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.18.amt.B6" style="WIDTH: 14%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.18.trail.B6" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.18.lead.B7" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.18.symb.B7" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.18.amt.B7" style="WIDTH: 14%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.18.trail.B7" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td></tr>
<tr id="TBL1022S1.finRow.19" style="BACKGROUND-COLOR: #ffffff">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 32%; BACKGROUND-COLOR: #ffffff">
<p id="PARA975" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Loss from operations </font></p></td>
<td id="TBL1022S1.finRow.19.lead.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.19.symb.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.19.amt.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #ffffff">(2,239</td>
<td id="TBL1022S1.finRow.19.trail.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" nowrap="">)</td>
<td id="TBL1022S1.finRow.19.lead.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.19.symb.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.19.amt.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #ffffff">(4,464</td>
<td id="TBL1022S1.finRow.19.trail.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" nowrap="">)</td>
<td id="TBL1022S1.finRow.19.lead.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.19.symb.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.19.amt.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #ffffff">(10,737</td>
<td id="TBL1022S1.finRow.19.trail.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" nowrap="">)</td>
<td id="TBL1022S1.finRow.19.lead.7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.19.symb.7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.19.amt.7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #ffffff">(19,737</td>
<td id="TBL1022S1.finRow.19.trail.7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" nowrap="">)</td></tr>
<tr id="TBL1022S1.finRow.20" style="BACKGROUND-COLOR: #cceeff">
<td style="PADDING-LEFT: 9pt; WIDTH: 32%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.20.lead.B4" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.20.symb.B4" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.20.amt.B4" style="WIDTH: 14%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.20.trail.B4" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.20.lead.B5" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.20.symb.B5" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.20.amt.B5" style="WIDTH: 14%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.20.trail.B5" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.20.lead.B6" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.20.symb.B6" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.20.amt.B6" style="WIDTH: 14%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.20.trail.B6" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.20.lead.B7" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.20.symb.B7" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.20.amt.B7" style="WIDTH: 14%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.20.trail.B7" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td></tr>
<tr id="TBL1022S1.finRow.21" style="BACKGROUND-COLOR: #ffffff">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; PADDING-LEFT: 0pt; WIDTH: 32%; BACKGROUND-COLOR: #ffffff">
<p id="PARA980" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Other income (expense) </font></p></td>
<td id="TBL1022S1.finRow.21.lead.B4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.21.symb.B4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.21.amt.B4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; WIDTH: 14%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.21.trail.B4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.21.lead.B5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.21.symb.B5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.21.amt.B5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; WIDTH: 14%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.21.trail.B5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.21.lead.B6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.21.symb.B6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.21.amt.B6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; WIDTH: 14%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.21.trail.B6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.21.lead.B7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.21.symb.B7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.21.amt.B7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; WIDTH: 14%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.21.trail.B7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td></tr>
<tr id="TBL1022S1.finRow.22" style="BACKGROUND-COLOR: #cceeff">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-LEFT: 9pt; WIDTH: 32%; BACKGROUND-COLOR: #cceeff">
<p id="PARA981" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Settlement of debt </font></p></td>
<td id="TBL1022S1.finRow.22.lead.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.22.symb.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.22.amt.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #cceeff">- </td>
<td id="TBL1022S1.finRow.22.trail.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">&nbsp;</td>
<td id="TBL1022S1.finRow.22.lead.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.22.symb.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.22.amt.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #cceeff">- </td>
<td id="TBL1022S1.finRow.22.trail.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">&nbsp;</td>
<td id="TBL1022S1.finRow.22.lead.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.22.symb.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.22.amt.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #cceeff">- </td>
<td id="TBL1022S1.finRow.22.trail.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">&nbsp;</td>
<td id="TBL1022S1.finRow.22.lead.7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.22.symb.7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.22.amt.7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #cceeff">8,459 </td>
<td id="TBL1022S1.finRow.22.trail.7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">&nbsp;</td></tr>
<tr id="TBL1022S1.finRow.23" style="BACKGROUND-COLOR: #ffffff">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-LEFT: 9pt; WIDTH: 32%; BACKGROUND-COLOR: #ffffff">
<p id="PARA986" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Interest expense - related party </font></p></td>
<td id="TBL1022S1.finRow.23.lead.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.23.symb.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.23.amt.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #ffffff">(103</td>
<td id="TBL1022S1.finRow.23.trail.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" nowrap="">)</td>
<td id="TBL1022S1.finRow.23.lead.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.23.symb.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">$</td>
<td id="TBL1022S1.finRow.23.amt.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #ffffff">(88</td>
<td id="TBL1022S1.finRow.23.trail.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" nowrap="">)</td>
<td id="TBL1022S1.finRow.23.lead.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.23.symb.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.23.amt.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #ffffff">(311</td>
<td id="TBL1022S1.finRow.23.trail.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" nowrap="">)</td>
<td id="TBL1022S1.finRow.23.lead.7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.23.symb.7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.23.amt.7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #ffffff">(246</td>
<td id="TBL1022S1.finRow.23.trail.7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" nowrap="">)</td></tr>
<tr id="TBL1022S1.finRow.24" style="BACKGROUND-COLOR: #cceeff">
<td style="WIDTH: 32%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.24.lead.B4" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.24.symb.B4" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.24.amt.B4" style="WIDTH: 14%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.24.trail.B4" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.24.lead.B5" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.24.symb.B5" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.24.amt.B5" style="WIDTH: 14%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.24.trail.B5" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.24.lead.B6" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.24.symb.B6" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.24.amt.B6" style="WIDTH: 14%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.24.trail.B6" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.24.lead.B7" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.24.symb.B7" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.24.amt.B7" style="WIDTH: 14%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.24.trail.B7" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td></tr>
<tr id="TBL1022S1.finRow.25" style="BACKGROUND-COLOR: #ffffff">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-LEFT: 18pt; WIDTH: 32%; BACKGROUND-COLOR: #ffffff">
<p id="PARA991" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Other income (expense), net </font></p></td>
<td id="TBL1022S1.finRow.25.lead.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.25.symb.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.25.amt.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #ffffff">(103</td>
<td id="TBL1022S1.finRow.25.trail.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" nowrap="">)</td>
<td id="TBL1022S1.finRow.25.lead.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.25.symb.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.25.amt.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #ffffff">(88</td>
<td id="TBL1022S1.finRow.25.trail.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" nowrap="">)</td>
<td id="TBL1022S1.finRow.25.lead.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.25.symb.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.25.amt.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #ffffff">(311</td>
<td id="TBL1022S1.finRow.25.trail.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" nowrap="">)</td>
<td id="TBL1022S1.finRow.25.lead.7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.25.symb.7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.25.amt.7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #ffffff">8,213 </td>
<td id="TBL1022S1.finRow.25.trail.7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" nowrap="">&nbsp;</td></tr>
<tr id="TBL1022S1.finRow.26" style="BACKGROUND-COLOR: #cceeff">
<td style="WIDTH: 32%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.26.lead.B4" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.26.symb.B4" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.26.amt.B4" style="WIDTH: 14%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.26.trail.B4" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.26.lead.B5" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.26.symb.B5" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.26.amt.B5" style="WIDTH: 14%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.26.trail.B5" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.26.lead.B6" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.26.symb.B6" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.26.amt.B6" style="WIDTH: 14%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.26.trail.B6" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.26.lead.B7" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.26.symb.B7" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.26.amt.B7" style="WIDTH: 14%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.26.trail.B7" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td></tr>
<tr id="TBL1022S1.finRow.27" style="BACKGROUND-COLOR: #ffffff">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 32%; BACKGROUND-COLOR: #ffffff">
<p id="PARA996" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Net loss </font></p></td>
<td id="TBL1022S1.finRow.27.lead.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.27.symb.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">$</td>
<td id="TBL1022S1.finRow.27.amt.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #ffffff">(2,342</td>
<td id="TBL1022S1.finRow.27.trail.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" nowrap="">)</td>
<td id="TBL1022S1.finRow.27.lead.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.27.symb.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">$</td>
<td id="TBL1022S1.finRow.27.amt.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #ffffff">(4,552</td>
<td id="TBL1022S1.finRow.27.trail.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" nowrap="">)</td>
<td id="TBL1022S1.finRow.27.lead.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.27.symb.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">$</td>
<td id="TBL1022S1.finRow.27.amt.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #ffffff">(11,048</td>
<td id="TBL1022S1.finRow.27.trail.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" nowrap="">)</td>
<td id="TBL1022S1.finRow.27.lead.7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.27.symb.7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">$</td>
<td id="TBL1022S1.finRow.27.amt.7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #ffffff">(19,983</td>
<td id="TBL1022S1.finRow.27.trail.7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" nowrap="">)</td></tr>
<tr id="TBL1022S1.finRow.28" style="BACKGROUND-COLOR: #cceeff">
<td style="WIDTH: 32%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.28.lead.B4" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.28.symb.B4" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.28.amt.B4" style="WIDTH: 14%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.28.trail.B4" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.28.lead.B5" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.28.symb.B5" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.28.amt.B5" style="WIDTH: 14%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.28.trail.B5" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.28.lead.B6" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.28.symb.B6" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.28.amt.B6" style="WIDTH: 14%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.28.trail.B6" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.28.lead.B7" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.28.symb.B7" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.28.amt.B7" style="WIDTH: 14%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.28.trail.B7" style="WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td></tr>
<tr id="TBL1022S1.finRow.29" style="BACKGROUND-COLOR: #ffffff">
<td style="WIDTH: 32%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.29.lead.B4" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.29.symb.B4" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.29.amt.B4" style="WIDTH: 14%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.29.trail.B4" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.29.lead.B5" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.29.symb.B5" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.29.amt.B5" style="WIDTH: 14%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.29.trail.B5" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.29.lead.B6" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.29.symb.B6" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.29.amt.B6" style="WIDTH: 14%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.29.trail.B6" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.29.lead.B7" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.29.symb.B7" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.29.amt.B7" style="WIDTH: 14%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.29.trail.B7" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td></tr>
<tr id="TBL1022S1.finRow.31" style="BACKGROUND-COLOR: #cceeff">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-LEFT: 9pt; WIDTH: 32%; BACKGROUND-COLOR: #cceeff; TEXT-INDENT: -9pt">
<p id="PARA1006" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Earnings per share </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">- basic and diluted </font></p></td>
<td id="TBL1022S1.finRow.31.lead.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.31.symb.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">$</td>
<td id="TBL1022S1.finRow.31.amt.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #cceeff">(0.00</td>
<td id="TBL1022S1.finRow.31.trail.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">)</td>
<td id="TBL1022S1.finRow.31.lead.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.31.symb.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">$</td>
<td id="TBL1022S1.finRow.31.amt.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #cceeff">(0.00</td>
<td id="TBL1022S1.finRow.31.trail.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">)</td>
<td id="TBL1022S1.finRow.31.lead.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.31.symb.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">$</td>
<td id="TBL1022S1.finRow.31.amt.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #cceeff">(0.00</td>
<td id="TBL1022S1.finRow.31.trail.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">)</td>
<td id="TBL1022S1.finRow.31.lead.7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.31.symb.7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">$</td>
<td id="TBL1022S1.finRow.31.amt.7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #cceeff">(0.00</td>
<td id="TBL1022S1.finRow.31.trail.7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">)</td></tr>
<tr id="TBL1022S1.finRow.32" style="BACKGROUND-COLOR: #ffffff">
<td style="WIDTH: 32%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.32.lead.B4" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.32.symb.B4" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.32.amt.B4" style="WIDTH: 14%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.32.trail.B4" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.32.lead.B5" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.32.symb.B5" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.32.amt.B5" style="WIDTH: 14%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.32.trail.B5" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.32.lead.B6" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.32.symb.B6" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.32.amt.B6" style="WIDTH: 14%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.32.trail.B6" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.32.lead.B7" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.32.symb.B7" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.32.amt.B7" style="WIDTH: 14%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL1022S1.finRow.32.trail.B7" style="WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td></tr>
<tr id="TBL1022S1.finRow.34" style="BACKGROUND-COLOR: #cceeff">
<td style="MARGIN-BOTTOM: 0px; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-LEFT: 18pt; MARGIN-TOP: 0px; WIDTH: 32%; BACKGROUND-COLOR: #cceeff; TEXT-INDENT: -9pt">
<p id="PARA1016" style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Weighted average common shares outstanding </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">- basic and diluted </font></p></td>
<td id="TBL1022S1.finRow.34.lead.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.34.symb.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.34.amt.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #cceeff">10,307,000 </td>
<td id="TBL1022S1.finRow.34.trail.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">&nbsp;</td>
<td id="TBL1022S1.finRow.34.lead.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.34.symb.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.34.amt.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #cceeff">10,307,000 </td>
<td id="TBL1022S1.finRow.34.trail.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">&nbsp;</td>
<td id="TBL1022S1.finRow.34.lead.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.34.symb.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.34.amt.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #cceeff">10,307,000 </td>
<td id="TBL1022S1.finRow.34.trail.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">&nbsp;</td>
<td id="TBL1022S1.finRow.34.lead.7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.34.symb.7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL1022S1.finRow.34.amt.7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; WIDTH: 14%; BACKGROUND-COLOR: #cceeff">10,167,350 </td>
<td id="TBL1022S1.finRow.34.trail.7" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">&nbsp;</td></tr></table></div>
<p id="PARA1023" style="MARGIN: 0pt; LINE-HEIGHT: 1.25">&nbsp;</p>
<table id="TBL1022" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px" cellspacing="0" cellpadding="0" border="0">

<tr>
<td style="WIDTH: 2.4%">
<p id="PARA1021" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><i>See accompanying notes to the condensed financial statements. </i></font></p></td></tr></table>
<p id="PARA179" style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"></font>&nbsp;</p>
<div id="PGBK180" style="MARGIN-LEFT: 0pt; WIDTH: 100%; MARGIN-RIGHT: 0pt">
<div id="PGFTR180" style="TEXT-ALIGN: center; WIDTH: 100%">&nbsp;</div>
<div id="PGNUM180" style="FONT-SIZE: 10pt; TEXT-ALIGN: center; WIDTH: 100%">F-3&nbsp;</div>
<hr style="HEIGHT: 2px; PAGE-BREAK-AFTER: always; COLOR: #000000; WIDTH: 100%" noshade="">

<div id="PGHDR180" style="TEXT-ALIGN: left; WIDTH: 100%">&nbsp;</div></div>
<p id="PARA180.2" style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&nbsp;</font></p>
<table id="TBL844S1" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px" cellspacing="0" cellpadding="0" border="0">

<tr>
<td style="WIDTH: 2.3%">
<p id="PARA801" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Property Management Corporation of America</font></p></td></tr>
<tr>
<td style="WIDTH: 2.3%">&nbsp; </td></tr>
<tr>
<td style="WIDTH: 2.3%">
<p id="PARA802" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Condensed Statement of Changes in Stockholders' Deficit</font></p></td></tr>
<tr>
<td style="WIDTH: 2.3%">
<p id="PARA803" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">For the Nine Months Ended November 30, 2016</font></p></td></tr>
<tr>
<td style="WIDTH: 2.3%">
<p id="PARA804" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>(Unaudited)</b></font></p></td></tr></table>
<p id="PARA1024" style="MARGIN: 0pt; LINE-HEIGHT: 1.25">&nbsp;</p>
<div data-td-taggable-table="" data-td-statement-type="stockholders-equity"><table id="TBL844S1" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px" cellspacing="0" cellpadding="0" border="0">

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 40%">&nbsp;</td>
<td id="TBL844S1.finRow.3.lead.D2" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</td>
<td id="TBL844S1.finRow.3.amt.D2" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="6">
<p id="PARA805" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Common Stock Par Value $0.0001 </font></p></td>
<td id="TBL844S1.finRow.3.trail.B3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td>
<td id="TBL844S1.finRow.3.lead.D4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</td>
<td id="TBL844S1.finRow.3.amt.D4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: center" colspan="2">
<p id="PARA806" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Additional </font></p></td>
<td id="TBL844S1.finRow.3.trail.D4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td>
<td id="TBL844S1.finRow.3.lead.B5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</td>
<td id="TBL844S1.finRow.3.symb.B5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</td>
<td id="TBL844S1.finRow.3.amt.B5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center">&nbsp;</td>
<td id="TBL844S1.finRow.3.trail.B5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td>
<td id="TBL844S1.finRow.3.lead.D6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</td>
<td id="TBL844S1.finRow.3.amt.D6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: center" colspan="2">
<p id="PARA807" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Total </font></p></td>
<td id="TBL844S1.finRow.3.trail.D6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td></tr>
<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 40%">&nbsp;</td>
<td id="TBL844S1.finRow.4.lead.D2" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</td>
<td id="TBL844S1.finRow.4.amt.D2" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: center" colspan="2">
<p id="PARA808" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Number of </font></p></td>
<td id="TBL844S1.finRow.4.trail.D2" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</td>
<td id="TBL844S1.finRow.4.lead.B3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</td>
<td id="TBL844S1.finRow.4.symb.B3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</td>
<td id="TBL844S1.finRow.4.amt.B3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: center">&nbsp;</td>
<td id="TBL844S1.finRow.4.trail.B3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</td>
<td id="TBL844S1.finRow.4.lead.D4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</td>
<td id="TBL844S1.finRow.4.amt.D4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: center" colspan="2">
<p id="PARA809" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Paid-in </font></p></td>
<td id="TBL844S1.finRow.4.trail.D4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</td>
<td id="TBL844S1.finRow.4.lead.D5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</td>
<td id="TBL844S1.finRow.4.amt.D5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: center" colspan="2">
<p id="PARA810" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Accumulated </font></p></td>
<td id="TBL844S1.finRow.4.trail.D5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</td>
<td id="TBL844S1.finRow.4.lead.D6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</td>
<td id="TBL844S1.finRow.4.amt.D6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: center" colspan="2">
<p id="PARA811" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Stockholders' </font></p></td>
<td id="TBL844S1.finRow.4.trail.D6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</td></tr>
<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 40%">&nbsp;</td>
<td id="TBL844S1.finRow.5.lead.D2" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</td>
<td id="TBL844S1.finRow.5.amt.D2" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="2">
<p id="PARA812" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Shares </font></p></td>
<td id="TBL844S1.finRow.5.trail.D2" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td>
<td id="TBL844S1.finRow.5.lead.D3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</td>
<td id="TBL844S1.finRow.5.amt.D3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="2">
<p id="PARA813" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Amount </font></p></td>
<td id="TBL844S1.finRow.5.trail.D3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td>
<td id="TBL844S1.finRow.5.lead.D4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</td>
<td id="TBL844S1.finRow.5.amt.D4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="2">
<p id="PARA814" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Capital </font></p></td>
<td id="TBL844S1.finRow.5.trail.D4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td>
<td id="TBL844S1.finRow.5.lead.D5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</td>
<td id="TBL844S1.finRow.5.amt.D5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="2">
<p id="PARA815" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Deficit </font></p></td>
<td id="TBL844S1.finRow.5.trail.D5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td>
<td id="TBL844S1.finRow.5.lead.D6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</td>
<td id="TBL844S1.finRow.5.amt.D6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="2">
<p id="PARA816" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Deficit </font></p></td>
<td id="TBL844S1.finRow.5.trail.D6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td></tr>
<tr>
<td style="WIDTH: 40%">&nbsp;</td>
<td id="TBL844S1.finRow.6.lead.B2">&nbsp;</td>
<td id="TBL844S1.finRow.6.symb.B2">&nbsp;</td>
<td id="TBL844S1.finRow.6.amt.B2">&nbsp;</td>
<td id="TBL844S1.finRow.6.trail.B2">&nbsp;</td>
<td id="TBL844S1.finRow.6.lead.B3">&nbsp;</td>
<td id="TBL844S1.finRow.6.symb.B3">&nbsp;</td>
<td id="TBL844S1.finRow.6.amt.B3">&nbsp;</td>
<td id="TBL844S1.finRow.6.trail.B3">&nbsp;</td>
<td id="TBL844S1.finRow.6.lead.B4">&nbsp;</td>
<td id="TBL844S1.finRow.6.symb.B4">&nbsp;</td>
<td id="TBL844S1.finRow.6.amt.B4">&nbsp;</td>
<td id="TBL844S1.finRow.6.trail.B4">&nbsp;</td>
<td id="TBL844S1.finRow.6.lead.B5">&nbsp;</td>
<td id="TBL844S1.finRow.6.symb.B5">&nbsp;</td>
<td id="TBL844S1.finRow.6.amt.B5">&nbsp;</td>
<td id="TBL844S1.finRow.6.trail.B5">&nbsp;</td>
<td id="TBL844S1.finRow.6.lead.B6">&nbsp;</td>
<td id="TBL844S1.finRow.6.symb.B6">&nbsp;</td>
<td id="TBL844S1.finRow.6.amt.B6">&nbsp;</td>
<td id="TBL844S1.finRow.6.trail.B6">&nbsp;</td></tr>
<tr>
<td style="WIDTH: 40%">&nbsp;</td>
<td id="TBL844S1.finRow.7.lead.B2">&nbsp;</td>
<td id="TBL844S1.finRow.7.symb.B2">&nbsp;</td>
<td id="TBL844S1.finRow.7.amt.B2">&nbsp;</td>
<td id="TBL844S1.finRow.7.trail.B2">&nbsp;</td>
<td id="TBL844S1.finRow.7.lead.B3">&nbsp;</td>
<td id="TBL844S1.finRow.7.symb.B3">&nbsp;</td>
<td id="TBL844S1.finRow.7.amt.B3">&nbsp;</td>
<td id="TBL844S1.finRow.7.trail.B3">&nbsp;</td>
<td id="TBL844S1.finRow.7.lead.B4">&nbsp;</td>
<td id="TBL844S1.finRow.7.symb.B4">&nbsp;</td>
<td id="TBL844S1.finRow.7.amt.B4">&nbsp;</td>
<td id="TBL844S1.finRow.7.trail.B4">&nbsp;</td>
<td id="TBL844S1.finRow.7.lead.B5">&nbsp;</td>
<td id="TBL844S1.finRow.7.symb.B5">&nbsp;</td>
<td id="TBL844S1.finRow.7.amt.B5">&nbsp;</td>
<td id="TBL844S1.finRow.7.trail.B5">&nbsp;</td>
<td id="TBL844S1.finRow.7.lead.B6">&nbsp;</td>
<td id="TBL844S1.finRow.7.symb.B6">&nbsp;</td>
<td id="TBL844S1.finRow.7.amt.B6">&nbsp;</td>
<td id="TBL844S1.finRow.7.trail.B6">&nbsp;</td></tr>
<tr style="BACKGROUND-COLOR: #cceeff">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 40%; BACKGROUND-COLOR: #cceeff">
<p id="PARA817" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Balance, February 29, 2016 </font></p></td>
<td id="TBL844S1.finRow.8.lead.2" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL844S1.finRow.8.symb.2" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL844S1.finRow.8.amt.2" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">10,307,000 </td>
<td id="TBL844S1.finRow.8.trail.2" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">&nbsp;</td>
<td id="TBL844S1.finRow.8.lead.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL844S1.finRow.8.symb.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">$</td>
<td id="TBL844S1.finRow.8.amt.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">1031</td>
<td id="TBL844S1.finRow.8.trail.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">&nbsp;</td>
<td id="TBL844S1.finRow.8.lead.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL844S1.finRow.8.symb.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">$</td>
<td id="TBL844S1.finRow.8.amt.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">65,219 </td>
<td id="TBL844S1.finRow.8.trail.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">&nbsp;</td>
<td id="TBL844S1.finRow.8.lead.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL844S1.finRow.8.symb.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">$</td>
<td id="TBL844S1.finRow.8.amt.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">(103,906</td>
<td id="TBL844S1.finRow.8.trail.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">)</td>
<td id="TBL844S1.finRow.8.lead.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL844S1.finRow.8.symb.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">$</td>
<td id="TBL844S1.finRow.8.amt.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">(37,656</td>
<td id="TBL844S1.finRow.8.trail.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">)</td></tr>
<tr style="BACKGROUND-COLOR: #ffffff">
<td style="WIDTH: 40%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL844S1.finRow.9.lead.B2" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL844S1.finRow.9.symb.B2" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL844S1.finRow.9.amt.B2" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL844S1.finRow.9.trail.B2" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL844S1.finRow.9.lead.B3" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL844S1.finRow.9.symb.B3" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL844S1.finRow.9.amt.B3" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL844S1.finRow.9.trail.B3" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL844S1.finRow.9.lead.B4" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL844S1.finRow.9.symb.B4" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL844S1.finRow.9.amt.B4" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL844S1.finRow.9.trail.B4" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL844S1.finRow.9.lead.B5" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL844S1.finRow.9.symb.B5" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL844S1.finRow.9.amt.B5" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL844S1.finRow.9.trail.B5" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL844S1.finRow.9.lead.B6" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL844S1.finRow.9.symb.B6" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL844S1.finRow.9.amt.B6" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL844S1.finRow.9.trail.B6" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td></tr>
<tr style="BACKGROUND-COLOR: #cceeff">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 40%; BACKGROUND-COLOR: #cceeff">
<p id="PARA827" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Net loss </font></p></td>
<td id="TBL844S1.finRow.10.lead.2" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL844S1.finRow.10.symb.2" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL844S1.finRow.10.amt.2" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">- </td>
<td id="TBL844S1.finRow.10.trail.2" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">&nbsp;</td>
<td id="TBL844S1.finRow.10.lead.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL844S1.finRow.10.symb.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL844S1.finRow.10.amt.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">- </td>
<td id="TBL844S1.finRow.10.trail.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">&nbsp;</td>
<td id="TBL844S1.finRow.10.lead.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL844S1.finRow.10.symb.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL844S1.finRow.10.amt.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">- </td>
<td id="TBL844S1.finRow.10.trail.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">&nbsp;</td>
<td id="TBL844S1.finRow.10.lead.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL844S1.finRow.10.symb.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL844S1.finRow.10.amt.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">(11,048</td>
<td id="TBL844S1.finRow.10.trail.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">)</td>
<td id="TBL844S1.finRow.10.lead.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL844S1.finRow.10.symb.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL844S1.finRow.10.amt.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">(11,048</td>
<td id="TBL844S1.finRow.10.trail.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">)</td></tr>
<tr style="BACKGROUND-COLOR: #ffffff">
<td style="WIDTH: 40%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL844S1.finRow.11.lead.B2" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL844S1.finRow.11.symb.B2" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL844S1.finRow.11.amt.B2" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL844S1.finRow.11.trail.B2" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL844S1.finRow.11.lead.B3" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL844S1.finRow.11.symb.B3" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL844S1.finRow.11.amt.B3" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL844S1.finRow.11.trail.B3" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL844S1.finRow.11.lead.B4" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL844S1.finRow.11.symb.B4" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL844S1.finRow.11.amt.B4" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL844S1.finRow.11.trail.B4" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL844S1.finRow.11.lead.B5" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL844S1.finRow.11.symb.B5" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL844S1.finRow.11.amt.B5" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL844S1.finRow.11.trail.B5" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL844S1.finRow.11.lead.B6" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL844S1.finRow.11.symb.B6" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL844S1.finRow.11.amt.B6" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL844S1.finRow.11.trail.B6" style="BACKGROUND-COLOR: #ffffff">&nbsp;</td></tr>
<tr style="BACKGROUND-COLOR: #cceeff">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 40%; BACKGROUND-COLOR: #cceeff">
<p id="PARA833" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Balance, May 31, 2016 </font></p></td>
<td id="TBL844S1.finRow.12.lead.2" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL844S1.finRow.12.symb.2" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL844S1.finRow.12.amt.2" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">10,307,000 </td>
<td id="TBL844S1.finRow.12.trail.2" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">&nbsp;</td>
<td id="TBL844S1.finRow.12.lead.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL844S1.finRow.12.symb.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">$</td>
<td id="TBL844S1.finRow.12.amt.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">1,031 </td>
<td id="TBL844S1.finRow.12.trail.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">&nbsp;</td>
<td id="TBL844S1.finRow.12.lead.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL844S1.finRow.12.symb.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">$</td>
<td id="TBL844S1.finRow.12.amt.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">65,219 </td>
<td id="TBL844S1.finRow.12.trail.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">&nbsp;</td>
<td id="TBL844S1.finRow.12.lead.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL844S1.finRow.12.symb.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">$</td>
<td id="TBL844S1.finRow.12.amt.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">(114,954</td>
<td id="TBL844S1.finRow.12.trail.5" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">)</td>
<td id="TBL844S1.finRow.12.lead.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL844S1.finRow.12.symb.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">$</td>
<td id="TBL844S1.finRow.12.amt.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; WIDTH: 9%; BACKGROUND-COLOR: #cceeff">(48,704</td>
<td id="TBL844S1.finRow.12.trail.6" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">)</td></tr></table></div>
<p id="PARA1025" style="MARGIN: 0pt; LINE-HEIGHT: 1.25">&nbsp;</p>
<table id="TBL844" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px" cellspacing="0" cellpadding="0" border="0">

<tr>
<td style="WIDTH: 2.3%">
<p id="PARA843" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><i>See accompanying notes to the condensed financial statements. </i></font></p></td></tr></table>
<p id="PARA182" style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<div id="PGBK845" style="MARGIN-LEFT: 0pt; WIDTH: 100%; MARGIN-RIGHT: 0pt">
<div id="PGFTR845" style="TEXT-ALIGN: center; WIDTH: 100%">&nbsp;</div>
<div id="PGNUM845" style="FONT-SIZE: 10pt; TEXT-ALIGN: center; WIDTH: 100%">&nbsp;F-4</div>
<hr style="HEIGHT: 2px; PAGE-BREAK-AFTER: always; COLOR: #000000; WIDTH: 100%" noshade="">

<div id="PGHDR845" style="TEXT-ALIGN: left; WIDTH: 100%">&nbsp;</div></div>
<p id="PARA845.2" style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"></font>&nbsp;</p>
<table id="TBL907S1" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px" cellspacing="0" cellpadding="0" border="0">

<tr>
<td style="WIDTH: 2.5%">
<p id="PARA846" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Property Management Corporation of America </font></p></td></tr>
<tr>
<td style="WIDTH: 2.5%">&nbsp; </td></tr>
<tr>
<td style="WIDTH: 2.5%">
<p id="PARA847" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Condensed Statements of Cash Flows </font></p></td></tr>
<tr>
<td style="WIDTH: 2.5%">&nbsp; </td></tr></table>
<p id="PARA1026" style="MARGIN: 0pt; LINE-HEIGHT: 1.25">&nbsp;</p>
<div data-td-taggable-table="" data-td-statement-type="cash-flows"><table id="TBL907S1" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px" cellspacing="0" cellpadding="0" border="0">

<tr id="TBL907S1.finRow.1">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 70%">&nbsp;</td>
<td id="TBL907S1.finRow.1.lead.D3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</td>
<td id="TBL907S1.finRow.1.amt.D3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: center" colspan="2">
<p id="PARA848" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">For the Nine Months</font></p></td>
<td id="TBL907S1.finRow.1.trail.D3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</td>
<td id="TBL907S1.finRow.1.lead.D4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</td>
<td id="TBL907S1.finRow.1.amt.D4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: center" colspan="2">
<p id="PARA849" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">For the Nine Months</font></p></td>
<td id="TBL907S1.finRow.1.trail.D4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</td></tr>
<tr id="TBL907S1.finRow.2">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 70%">&nbsp;</td>
<td id="TBL907S1.finRow.2.lead.D3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</td>
<td id="TBL907S1.finRow.2.amt.D3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: center" colspan="2">
<p id="PARA850" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Ended</font></p></td>
<td id="TBL907S1.finRow.2.trail.D3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</td>
<td id="TBL907S1.finRow.2.lead.D4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</td>
<td id="TBL907S1.finRow.2.amt.D4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: center" colspan="2">
<p id="PARA851" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Ended</font></p></td>
<td id="TBL907S1.finRow.2.trail.D4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</td></tr>
<tr id="TBL907S1.finRow.3">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 70%">&nbsp;</td>
<td id="TBL907S1.finRow.3.lead.D3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</td>
<td id="TBL907S1.finRow.3.amt.D3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="2">
<p id="PARA852" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">November 30, 2016</font></p></td>
<td id="TBL907S1.finRow.3.trail.D3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td>
<td id="TBL907S1.finRow.3.lead.D4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</td>
<td id="TBL907S1.finRow.3.amt.D4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center" colspan="2">
<p id="PARA853" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">November 30, 2015</font></p></td>
<td id="TBL907S1.finRow.3.trail.D4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-BOTTOM: 1px">&nbsp;</td></tr>
<tr id="TBL907S1.finRow.4">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 70%"><b>&nbsp;</b></td>
<td id="TBL907S1.finRow.4.lead.D3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>&nbsp;</b></td>
<td id="TBL907S1.finRow.4.amt.D3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: center" colspan="2">
<p id="PARA854" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>(Unaudited)</b></font></p></td>
<td id="TBL907S1.finRow.4.trail.D3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>&nbsp;</b></td>
<td id="TBL907S1.finRow.4.lead.D4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>&nbsp;</b></td>
<td id="TBL907S1.finRow.4.amt.D4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: center" colspan="2">
<p id="PARA855" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>(Unaudited)</b></font></p></td>
<td id="TBL907S1.finRow.4.trail.D4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>&nbsp;</b></td></tr>
<tr id="TBL907S1.finRow.5">
<td style="WIDTH: 70%">&nbsp;</td>
<td id="TBL907S1.finRow.5.lead.B3">&nbsp;</td>
<td id="TBL907S1.finRow.5.symb.B3">&nbsp;</td>
<td id="TBL907S1.finRow.5.amt.B3">&nbsp;</td>
<td id="TBL907S1.finRow.5.trail.B3">&nbsp;</td>
<td id="TBL907S1.finRow.5.lead.B4">&nbsp;</td>
<td id="TBL907S1.finRow.5.symb.B4">&nbsp;</td>
<td id="TBL907S1.finRow.5.amt.B4">&nbsp;</td>
<td id="TBL907S1.finRow.5.trail.B4">&nbsp;</td></tr>
<tr id="TBL907S1.finRow.6" style="BACKGROUND-COLOR: #cceeff">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 70%; BACKGROUND-COLOR: #cceeff">
<p id="PARA856" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">CASH FLOWS FROM OPERATING ACTIVITIES: </font></p></td>
<td id="TBL907S1.finRow.6.lead.B3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.6.symb.B3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.6.amt.B3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.6.trail.B3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.6.lead.B4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.6.symb.B4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.6.amt.B4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.6.trail.B4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #cceeff">&nbsp;</td></tr>
<tr id="TBL907S1.finRow.7" style="BACKGROUND-COLOR: #ffffff">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 70%; BACKGROUND-COLOR: #ffffff">
<p id="PARA857" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Net loss </font></p></td>
<td id="TBL907S1.finRow.7.lead.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL907S1.finRow.7.symb.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">$</td>
<td id="TBL907S1.finRow.7.amt.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">(11,048</td>
<td id="TBL907S1.finRow.7.trail.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" nowrap="">)</td>
<td id="TBL907S1.finRow.7.lead.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL907S1.finRow.7.symb.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">$</td>
<td id="TBL907S1.finRow.7.amt.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">(11,524</td>
<td id="TBL907S1.finRow.7.trail.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" nowrap="">)</td></tr>
<tr id="TBL907S1.finRow.9" style="BACKGROUND-COLOR: #cceeff">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-LEFT: 9pt; WIDTH: 70%; BACKGROUND-COLOR: #cceeff; TEXT-INDENT: -9pt">
<p id="PARA863" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Adjustments to reconcile net loss to net cash </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">used in operating activities: </font></p></td>
<td id="TBL907S1.finRow.9.lead.B3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.9.symb.B3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.9.amt.B3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.9.trail.B3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.9.lead.B4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.9.symb.B4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.9.amt.B4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.9.trail.B4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #cceeff">&nbsp;</td></tr>
<tr id="TBL907S1.finRow.10" style="BACKGROUND-COLOR: #ffffff">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 70%; BACKGROUND-COLOR: #ffffff">
<p id="PARA864" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Changes in operating assets and liabilities: </font></p></td>
<td id="TBL907S1.finRow.10.lead.B3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL907S1.finRow.10.symb.B3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL907S1.finRow.10.amt.B3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL907S1.finRow.10.trail.B3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL907S1.finRow.10.lead.B4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL907S1.finRow.10.symb.B4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL907S1.finRow.10.amt.B4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL907S1.finRow.10.trail.B4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #ffffff">&nbsp;</td></tr>
<tr id="TBL907S1.finRow.11" style="BACKGROUND-COLOR: #cceeff">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-LEFT: 9pt; WIDTH: 70%; BACKGROUND-COLOR: #cceeff">
<p id="PARA865" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Management fee receivable-related party </font></p></td>
<td id="TBL907S1.finRow.11.lead.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.11.symb.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.11.amt.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">(2,432</td>
<td id="TBL907S1.finRow.11.trail.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">)</td>
<td id="TBL907S1.finRow.11.lead.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.11.symb.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.11.amt.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">(2,127</td>
<td id="TBL907S1.finRow.11.trail.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">)</td></tr>
<tr id="TBL907S1.finRow.12" style="BACKGROUND-COLOR: #ffffff">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-LEFT: 9pt; WIDTH: 70%; BACKGROUND-COLOR: #ffffff">
<p id="PARA868" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Accounts payable and accrued expenses </font></p></td>
<td id="TBL907S1.finRow.12.lead.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL907S1.finRow.12.symb.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL907S1.finRow.12.amt.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">11,443 </td>
<td id="TBL907S1.finRow.12.trail.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" nowrap="">&nbsp;</td>
<td id="TBL907S1.finRow.12.lead.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL907S1.finRow.12.symb.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL907S1.finRow.12.amt.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">(7,838</td>
<td id="TBL907S1.finRow.12.trail.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" nowrap="">)</td></tr>
<tr id="TBL907S1.finRow.13" style="BACKGROUND-COLOR: #cceeff">
<td style="WIDTH: 70%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.13.lead.B3" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.13.symb.B3" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.13.amt.B3" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.13.trail.B3" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.13.lead.B4" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.13.symb.B4" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.13.amt.B4" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.13.trail.B4" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td></tr>
<tr id="TBL907S1.finRow.14" style="BACKGROUND-COLOR: #ffffff">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 70%; BACKGROUND-COLOR: #ffffff">
<p id="PARA871" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Net cash used in operating activities </font></p></td>
<td id="TBL907S1.finRow.14.lead.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL907S1.finRow.14.symb.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL907S1.finRow.14.amt.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">(2,037</td>
<td id="TBL907S1.finRow.14.trail.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" nowrap="">)</td>
<td id="TBL907S1.finRow.14.lead.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL907S1.finRow.14.symb.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL907S1.finRow.14.amt.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">(21,489</td>
<td id="TBL907S1.finRow.14.trail.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" nowrap="">)</td></tr>
<tr id="TBL907S1.finRow.15" style="BACKGROUND-COLOR: #cceeff">
<td style="WIDTH: 70%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.15.lead.B3" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.15.symb.B3" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.15.amt.B3" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.15.trail.B3" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.15.lead.B4" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.15.symb.B4" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.15.amt.B4" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.15.trail.B4" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td></tr>
<tr id="TBL907S1.finRow.16" style="BACKGROUND-COLOR: #ffffff">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 70%; BACKGROUND-COLOR: #ffffff">
<p id="PARA874" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">CASH FLOWS FROM FINANCING ACTIVITIES: </font></p></td>
<td id="TBL907S1.finRow.16.lead.B3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL907S1.finRow.16.symb.B3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL907S1.finRow.16.amt.B3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL907S1.finRow.16.trail.B3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL907S1.finRow.16.lead.B4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL907S1.finRow.16.symb.B4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL907S1.finRow.16.amt.B4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL907S1.finRow.16.trail.B4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #ffffff">&nbsp;</td></tr>
<tr id="TBL907S1.finRow.17" style="BACKGROUND-COLOR: #cceeff">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-LEFT: 9pt; WIDTH: 70%; BACKGROUND-COLOR: #cceeff">
<p id="PARA875" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Proceeds from sale of common stock </font></p></td>
<td id="TBL907S1.finRow.17.lead.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.17.symb.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.17.amt.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">- </td>
<td id="TBL907S1.finRow.17.trail.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">&nbsp;</td>
<td id="TBL907S1.finRow.17.lead.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.17.symb.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.17.amt.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">15,000 </td>
<td id="TBL907S1.finRow.17.trail.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">&nbsp;</td></tr>
<tr id="TBL907S1.finRow.18" style="BACKGROUND-COLOR: #ffffff">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-LEFT: 9pt; WIDTH: 70%; BACKGROUND-COLOR: #ffffff">
<p id="PARA878" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Proceeds from notes payable - related party </font></p></td>
<td id="TBL907S1.finRow.18.lead.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL907S1.finRow.18.symb.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL907S1.finRow.18.amt.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">- </td>
<td id="TBL907S1.finRow.18.trail.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" nowrap="">&nbsp;</td>
<td id="TBL907S1.finRow.18.lead.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL907S1.finRow.18.symb.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL907S1.finRow.18.amt.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">6,000 </td>
<td id="TBL907S1.finRow.18.trail.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" nowrap="">&nbsp;</td></tr>
<tr id="TBL907S1.finRow.19" style="BACKGROUND-COLOR: #cceeff">
<td style="WIDTH: 70%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.19.lead.B3" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.19.symb.B3" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.19.amt.B3" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.19.trail.B3" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.19.lead.B4" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.19.symb.B4" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.19.amt.B4" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.19.trail.B4" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td></tr>
<tr id="TBL907S1.finRow.20" style="BACKGROUND-COLOR: #ffffff">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 70%; BACKGROUND-COLOR: #ffffff">
<p id="PARA881" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Net cash provided by financing activities </font></p></td>
<td id="TBL907S1.finRow.20.lead.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL907S1.finRow.20.symb.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL907S1.finRow.20.amt.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">- </td>
<td id="TBL907S1.finRow.20.trail.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" nowrap="">&nbsp;</td>
<td id="TBL907S1.finRow.20.lead.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL907S1.finRow.20.symb.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL907S1.finRow.20.amt.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">21,000 </td>
<td id="TBL907S1.finRow.20.trail.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" nowrap="">&nbsp;</td></tr>
<tr id="TBL907S1.finRow.21" style="BACKGROUND-COLOR: #cceeff">
<td style="WIDTH: 70%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.21.lead.B3" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.21.symb.B3" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.21.amt.B3" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.21.trail.B3" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.21.lead.B4" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.21.symb.B4" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.21.amt.B4" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.21.trail.B4" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td></tr>
<tr id="TBL907S1.finRow.22" style="BACKGROUND-COLOR: #ffffff">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 70%; BACKGROUND-COLOR: #ffffff">
<p id="PARA884" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">NET CHANGE IN CASH </font></p></td>
<td id="TBL907S1.finRow.22.lead.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL907S1.finRow.22.symb.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL907S1.finRow.22.amt.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">(2,037</td>
<td id="TBL907S1.finRow.22.trail.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" nowrap="">)</td>
<td id="TBL907S1.finRow.22.lead.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL907S1.finRow.22.symb.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL907S1.finRow.22.amt.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">(489</td>
<td id="TBL907S1.finRow.22.trail.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" nowrap="">)</td></tr>
<tr id="TBL907S1.finRow.23" style="BACKGROUND-COLOR: #cceeff">
<td style="WIDTH: 70%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.23.lead.B3" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.23.symb.B3" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.23.amt.B3" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.23.trail.B3" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.23.lead.B4" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.23.symb.B4" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.23.amt.B4" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.23.trail.B4" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td></tr>
<tr id="TBL907S1.finRow.24" style="BACKGROUND-COLOR: #ffffff">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 70%; BACKGROUND-COLOR: #ffffff">
<p id="PARA887" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Cash at beginning of reporting period </font></p></td>
<td id="TBL907S1.finRow.24.lead.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL907S1.finRow.24.symb.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL907S1.finRow.24.amt.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">2,154 </td>
<td id="TBL907S1.finRow.24.trail.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" nowrap="">&nbsp;</td>
<td id="TBL907S1.finRow.24.lead.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL907S1.finRow.24.symb.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL907S1.finRow.24.amt.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">1,030 </td>
<td id="TBL907S1.finRow.24.trail.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 1px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" nowrap="">&nbsp;</td></tr>
<tr id="TBL907S1.finRow.25" style="BACKGROUND-COLOR: #cceeff">
<td style="WIDTH: 70%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.25.lead.B3" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.25.symb.B3" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.25.amt.B3" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.25.trail.B3" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.25.lead.B4" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.25.symb.B4" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.25.amt.B4" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.25.trail.B4" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td></tr>
<tr id="TBL907S1.finRow.26" style="BACKGROUND-COLOR: #ffffff">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 70%; BACKGROUND-COLOR: #ffffff">
<p id="PARA890" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Cash at end of reporting period </font></p></td>
<td id="TBL907S1.finRow.26.lead.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL907S1.finRow.26.symb.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">$</td>
<td id="TBL907S1.finRow.26.amt.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">117 </td>
<td id="TBL907S1.finRow.26.trail.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" nowrap="">&nbsp;</td>
<td id="TBL907S1.finRow.26.lead.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL907S1.finRow.26.symb.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">$</td>
<td id="TBL907S1.finRow.26.amt.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">541 </td>
<td id="TBL907S1.finRow.26.trail.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" nowrap="">&nbsp;</td></tr>
<tr id="TBL907S1.finRow.27" style="BACKGROUND-COLOR: #cceeff">
<td style="WIDTH: 70%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.27.lead.B3" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.27.symb.B3" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.27.amt.B3" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.27.trail.B3" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.27.lead.B4" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.27.symb.B4" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.27.amt.B4" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.27.trail.B4" style="BACKGROUND-COLOR: #cceeff">&nbsp;</td></tr>
<tr id="TBL907S1.finRow.28" style="BACKGROUND-COLOR: #ffffff">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; WIDTH: 70%; BACKGROUND-COLOR: #ffffff">
<p id="PARA895" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION: </font></p></td>
<td id="TBL907S1.finRow.28.lead.B3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL907S1.finRow.28.symb.B3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL907S1.finRow.28.amt.B3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL907S1.finRow.28.trail.B3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL907S1.finRow.28.lead.B4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL907S1.finRow.28.symb.B4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL907S1.finRow.28.amt.B4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL907S1.finRow.28.trail.B4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; BACKGROUND-COLOR: #ffffff">&nbsp;</td></tr>
<tr id="TBL907S1.finRow.29" style="BACKGROUND-COLOR: #cceeff">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-LEFT: 9pt; WIDTH: 70%; BACKGROUND-COLOR: #cceeff">
<p id="PARA896" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Interest paid </font></p></td>
<td id="TBL907S1.finRow.29.lead.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.29.symb.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">$</td>
<td id="TBL907S1.finRow.29.amt.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">311 </td>
<td id="TBL907S1.finRow.29.trail.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">&nbsp;</td>
<td id="TBL907S1.finRow.29.lead.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">&nbsp;</td>
<td id="TBL907S1.finRow.29.symb.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; WIDTH: 1%; BACKGROUND-COLOR: #cceeff">$</td>
<td id="TBL907S1.finRow.29.amt.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; WIDTH: 12%; BACKGROUND-COLOR: #cceeff">246 </td>
<td id="TBL907S1.finRow.29.trail.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #cceeff" nowrap="">&nbsp;</td></tr>
<tr id="TBL907S1.finRow.30" style="BACKGROUND-COLOR: #ffffff">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; PADDING-LEFT: 9pt; WIDTH: 70%; BACKGROUND-COLOR: #ffffff">
<p id="PARA901" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Income taxes paid </font></p></td>
<td id="TBL907S1.finRow.30.lead.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL907S1.finRow.30.symb.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">$</td>
<td id="TBL907S1.finRow.30.amt.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">- </td>
<td id="TBL907S1.finRow.30.trail.3" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" nowrap="">&nbsp;</td>
<td id="TBL907S1.finRow.30.lead.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">&nbsp;</td>
<td id="TBL907S1.finRow.30.symb.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; WIDTH: 1%; BACKGROUND-COLOR: #ffffff">$</td>
<td id="TBL907S1.finRow.30.amt.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; WIDTH: 12%; BACKGROUND-COLOR: #ffffff">- </td>
<td id="TBL907S1.finRow.30.trail.4" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 3px; MARGIN-LEFT: 0pt; WIDTH: 1%; BACKGROUND-COLOR: #ffffff" nowrap="">&nbsp;</td></tr></table></div>
<p id="PARA1027" style="MARGIN: 0pt; LINE-HEIGHT: 1.25">&nbsp;</p>
<table id="TBL907" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px" cellspacing="0" cellpadding="0" border="0">

<tr>
<td style="WIDTH: 2.5%">
<p id="PARA906" style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><i>See accompanying notes to the condensed financial statements. </i></font></p></td></tr></table>
<p id="PARA181" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<div id="PGBK908" style="MARGIN-LEFT: 0pt; WIDTH: 100%; MARGIN-RIGHT: 0pt">
<div id="PGFTR908" style="TEXT-ALIGN: center; WIDTH: 100%">&nbsp;</div>
<div id="PGNUM908" style="FONT-SIZE: 10pt; TEXT-ALIGN: center; WIDTH: 100%">&nbsp;F-5</div>
<hr style="HEIGHT: 2px; PAGE-BREAK-AFTER: always; COLOR: #000000; WIDTH: 100%" noshade="">

<div id="PGHDR908" style="TEXT-ALIGN: left; WIDTH: 100%">&nbsp;</div></div>
<p id="PARA192" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"></font>&nbsp;</p>
<p id="PARA242" style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Property Management Corporation of America</font></p>
<p id="PARA243" style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Nine Months ended November 30, 2016 and 2015</font></p>
<p id="PARA244" style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Notes to the Condensed Financial Statements</font></p>
<p id="PARA245" style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>(</b><b>Unaudited</b><b>)</b></font></p>
<p id="PARA246" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA247" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b></b></font></p><div data-td-statement-type="note"><p id="PARA247" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>Not</b><b>e 1 - Organization and Summary of Significant Accounting Policies</b></font></p>
<p id="PARA248" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA249" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Property Management Corporation of America (the &#8220;Company&#8221;) was incorporated on January 23, 2014 under the laws of the State of Delaware. The Company offers management and consulting services to residential and commercial real estate property owners who rent or lease their property to third party tenants.</font></p>
<p id="PARA250" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA251" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>Basis of Presentation of Unaudited Condensed Financial Information</b></font></p>
<p id="PARA252" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>&nbsp;</b></font></p>
<p id="PARA253" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The unaudited condensed financial statements of the Company for the nine months ended November 30, 2016 and 2015 have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and pursuant to the requirements for reporting on Form 10-Q and Regulation S-K. Accordingly, they do not include all the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. However, such information reflects all adjustments (consisting solely of normal recurring adjustments), which are, in the opinion of management, necessary for the fair presentation of the financial position and the results of operations. Results shown for interim periods are not necessarily indicative of the results to be obtained for a full fiscal year. The balance sheet information as of February 29, 2016 was derived from the audited financial statements included in the Company's financial statements as of and for the year ended February 29, 2016 included in the Company&#8217;s Annual Report on Form 10-K filed with the Securities and Exchange Commission (the &#8220;SEC&#8221;) on May 31, 2016. These financial statements should be read in conjunction with that report.</font></p>
<p id="PARA254" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>&nbsp;</b></font></p>
<p id="PARA255" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>Going Concern</b></font></p>
<p id="PARA256" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA257" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. As reflected in the accompanying financial statements, during the nine months ended November 30, 2016, the Company incurred a net loss of $11,048, used cash in operations of $2,037, and at November 30, 2016, had a stockholders' deficit of $48,704. These factors, among others, raise substantial doubt about the Company's ability to continue as a going concern. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.</font></p>
<p id="PARA258" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA259" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">From January 23, 2014 (inception) through November 30, 2016, we relied on funds loaned to us by Washington Capital Advisors LLC, a company controlled by our Chairman. At November 30, 2016, the outstanding loan and accrued interest amounts due Washington Capital Advisors were $27,500 and $955, respectively.</font></p>
<p id="PARA260" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA261" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">We will need to raise additional capital to carry out our business plan. We believe that our additional capital needs will be approximately $150,000 over the next 18 months to fully carry out our business plan. We expect to raise these additional funds through the issuance of debt obligations and private placements of our Common Stock; however, there can be no assurance that we will be able to raise additional capital or if we are able to raise additional capital that the terms will be acceptable to us. Currently our only definitive financing source is Washington Capital Advisors LLC, which has agreed to loan us up to $50,000 less any currently outstanding loan and accrued interest amounts.</font></p>
<p id="PARA262" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA263" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The Company is attempting to generate sufficient revenue; however, the Company&#8217;s cash position may not be sufficient to support its daily operations. While the Company believes in the viability of its strategy to commence operations and generate sufficient revenue and in its ability to raise additional funds, there can be no assurances to that effect. The ability of the Company to continue as a going concern is dependent upon its ability to further implement its business plan and generate sufficient revenue and in its ability to raise additional funds.</font></p>
<p id="PARA909.1" style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&nbsp;</font></p>
<div id="PGBK909" style="MARGIN-LEFT: 0pt; WIDTH: 100%; MARGIN-RIGHT: 0pt">
<div id="PGFTR909" style="TEXT-ALIGN: center; WIDTH: 100%">&nbsp;</div>
<div id="PGNUM909" style="FONT-SIZE: 10pt; TEXT-ALIGN: center; WIDTH: 100%">2</div>
<hr style="HEIGHT: 2px; PAGE-BREAK-AFTER: always; COLOR: #000000; WIDTH: 100%" noshade="">

<div id="PGHDR909" style="TEXT-ALIGN: left; WIDTH: 100%">&nbsp;</div></div>
<p id="PARA909.2" style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&nbsp;</font></p>
<p id="PARA269" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>Use of Estimates </b></font></p>
<p id="PARA270" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA271" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The preparation of the financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Significant estimates include accounting for potential liabilities. Actual results could differ from those estimates.</font></p>
<p id="PARA272" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA273" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>Basic and diluted loss per share</b></font></p>
<p id="PARA274" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA275" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Basic loss per share is computed by dividing net loss applicable to common stockholders by the weighted average number of outstanding common shares during the period. Diluted loss per share is computed by dividing the net loss applicable to common stockholders by the weighted average number of common shares outstanding plus the number of additional common shares that would have been outstanding if all dilutive potential common shares had been issued. For the three and nine months ended November 30, 2016 the basic and diluted shares outstanding were the same, as there were no potentially dilutive shares outstanding.</font></p>
<p id="PARA276" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>&nbsp;</b></font></p>
<p id="PARA277" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>Fair Value of Financial Instruments</b></font></p>
<p id="PARA278" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA279" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Under current accounting guidance, fair value is defined as the price at which an asset could be exchanged or a liability transferred in a transaction between knowledgeable, willing parties in the principal or most advantageous market for the asset or liability. Where available, fair value is based on observable market prices or parameters or derived from such prices or parameters. Where observable prices or parameters are not available, valuation models are applied. A fair value hierarchy prioritizes the inputs used in measuring fair value into three broad levels as follows:</font></p>
<p id="PARA280" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA281" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Level 1 &#8211; Quoted prices in active markets for identical assets or liabilities.</font></p>
<p id="PARA282" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Level 2 &#8211; Inputs, other than the quoted prices in active markets, are observable either directly or indirectly.</font></p>
<p id="PARA283" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Level 3 &#8211; Unobservable inputs based on the Company's assumptions.</font></p>
<p id="PARA284" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA285" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The Company is required to use observable market data if such data is available without undue cost and effort. As of November 30, 2016, the amounts reported for cash, accounts payable and accrued liabilities, and notes payable approximated fair value because of their short-term maturities. </font></p>
<p id="PARA286" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA287" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>Concentrations of Risk</b></font></p>
<p id="PARA288" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA289" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">For the nine months ended November 30, 2016 and November 30, 2015, we derived approximately 100% of revenue from contracts with two customers. </font></p>
<p id="PARA290" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA291" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>Recently Issued Accounting Pronouncements</b></font></p>
<p id="PARA292" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><i>&nbsp;</i></font></p>
<p id="PARA293" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers. ASU 2014-09 is a comprehensive revenue recognition standard that will supersede nearly all existing revenue recognition guidance under current U.S. GAAP and replace it with a principle based approach for determining revenue recognition. ASU 2014-09 will require that companies recognize revenue based on the value of transferred goods or services as they occur in the contract. The ASU also will require additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. ASU 2014-09 is effective for interim and annual periods beginning after December 15, 2017. Early adoption is permitted only in annual reporting periods beginning after December 15, 2016, including interim periods therein. Entities will be able to transition to the standard either retrospectively or as a cumulative-effect adjustment as of the date of adoption. The Company is in the process of evaluating the impact of ASU 2014-09 on the Company&#8217;s financial statements and disclosures.</font></p>
<p id="PARA294" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA295" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">In February 2016, the FASB issued Accounting Standards Update (ASU) No. 2016-02, Leases. ASU 2016-02 requires a lessee to record a right of use asset and a corresponding lease liability on the balance sheet for all leases with terms longer than 12 months. ASU 2016-02 is effective for all interim and annual reporting periods beginning after December 15, 2018. Early adoption is permitted. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. The Company is currently evaluating the expected impact that the standard could have on its financial statements and related disclosures.</font></p>
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<p id="PARA297" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Other recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the Securities and Exchange Commission did not or are not believed by management to have a material impact on the Company's present or future consolidated financial statements.</font></p></div><p id="PARA297" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"></font></p>
<p id="PARA298" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA299" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b></b></font></p><div data-td-statement-type="note"><p id="PARA299" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>Note 2</b><b> &#8211; Related Party Transactions</b></font></p>
<p id="PARA300" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA301" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">At November 30, 2016, the Company had notes payable to Washington Capital Advisors LLC, a company controlled by our Chairman, totaling $27,500. The notes are made for working capital purposes, bear interest at 1.5% per annum, are unsecured, and are due on demand.</font></p>
<p id="PARA302" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA303" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">One hundred percent (100%) of the Company&#8217;s revenue comes from the management of two properties under management services contracts. These properties are owned in part by our Chairman and the acting Chief Executive Officer, President and Chief Financial Officer of the Company.</font></p>
<p id="PARA304" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA305" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The Company sublets an approximate 250 square foot office space from Washington Capital Advisors LLC. in Marshall, Virginia, which serves as its principal executive offices. The sublease is on a month-to-month basis for $350 per month. Rent expense related to its office space was $1,050 for the three month periods ended November 30, 2016 and November 30, 2015, respectively and $3,150 for the nine month periods ended November 30, 2016 and November 30, 2015, respectively.</font></p></div><p id="PARA305" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"></font></p>
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<p id="PARA340" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>Item 2. Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations.</b></font></p>
<p id="PARA341" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><i><b><br>CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS</b></i> </font></p>
<p id="PARA342" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA343" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><i>This Quarterly Report on Form 10-Q, including, without limitation, Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations, conta</i><i>ins &#8220;forward-looking statements.&#8221;</i><i> The forward-looking information is based on various factors and was derived using numerous assumptions. All statements, other than statements of historical fact, that address activities, events or developments that we intend, expect, project, believe or anticipate will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current conditions, expected future developments and other factors they believe to be appropriate. These forward-looking statements are usually accompanied by words such as &#8220;believe,&#8221; &#8220;anticipate,&#8221; &#8220;plan,&#8221; &#8220;seek,&#8221; &#8220;expect,&#8221; &#8220;intend&#8221; and similar expressions.</i> </font></p>
<p id="PARA344" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 24.5pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA345" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><i>Forward-looking statements necessarily involve risks and uncertainties, and our actual results could differ materially from t</i><i>hose anticipated in the forward-</i><i>looking statements due to a number of</i><i> factors</i><i>. These factors as well as other cautionary statements made in this Quarterly Report on Form 10-Q, should be read and understood as being applicable to all related forward-looking statements wherever they appear herein. The forward-looking statements contained in this Quarterly Report on Form&nbsp;10-Q represent our judgment as of the date hereof. We encourage you to read those descriptions carefully. We caution you not to place undue reliance on the forward-looking statements contained in this report. These statements, like all statements in this report, speak only as of the date of this report (unless an earlier date is indicated) and we undertake no obligation to update or revise the statements except as required by </i><i>federal securities </i><i>law. Such forward-looking statements are not guarantees of future performance and actual results will likely differ, perhaps materially, from those suggested by such forward-looking statements. In this report, the &#8220;</i><i>Company,&#8221;</i><i> &#8220;we,&#8221; &#8220;us,&#8221; and &#8220;our&#8221; r</i><i>efer to Property Management Corporation of America</i><i>.</i> </font></p>
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<p id="PARA347" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>Overview</b></font></p>
<p id="PARA348" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA349" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Property Management Corporation of America offers management and consulting services to residential and commercial real estate property owners who rent or lease their property to third party tenants. The Company currently has two management services agreements, one with Marsh Road LLC (Bealeton, Virginia) and one with Main Street Heritage LLC (Marshall, Virginia), both mixed residential and commercial properties. Our executive officer and our directors together have a 55% ownership interest in these initial properties. </font></p>
<p id="PARA350" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA351" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">We intend to expand our services in 2017 and execute additional management services agreements with other residential and commercial property owners over the next several months. Our initial expansion and growth plans include establishing satellite offices in counties contiguous with Fauquier County, Virginia and eventually statewide.</font></p>
<p id="PARA353" style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA354" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">We offer exceptional customer service and very competitive pricing, which we believe sets us apart from other property management companies. As we grow, we plan to add additional employees with specific skills to enhance our service offerings. We believe the in-house skill set will enable us to enhance our profitability as we will not need to sub-contract these services.</font></p>
<p id="PARA355" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA356" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">In addition to our real estate management and consulting services, management has been reviewing and considering other business opportunities in industries outside of the property management industry. </font></p>
<p id="PARA357" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>&nbsp;</b></font></p>
<p id="PARA358" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>Results of Operations</b></font></p>
<p id="PARA359" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>&nbsp;</b></font></p>
<p id="PARA360" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><i><b>Three Month Peri</b></i><i><b>od Ended November 30</b></i><i><b>, 201</b></i><i><b>6</b></i><i><b> Compared to the </b></i><i><b>Three Month Period Ended November 30, 2015</b></i></font></p>
<p id="PARA361" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>&nbsp;</b></font></p>
<p id="PARA362" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>Revenue</b></font></p>
<p id="PARA363" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>&nbsp;</b></font></p>
<p id="PARA364" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">We recorded $3,635 in revenue from operations for the three month period ended November 30, 2016 compared to $3,339 for the three month period ended November 30, 2015. The increase of $296 reflects increases in rent and the overall stability of our rental activities at the properties under management.</font></p>
<p id="PARA365" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA366" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Our revenue is derived from our management service agreements, currently with two clients, both of which are affiliated with our directors and officer. It is our intention in the short term to seek to add additional third party clients. Management believes the local market is underserved and property management companies such as ours can successfully add new clients.</font></p>
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<p id="PARA368" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>Cost of revenue</b></font></p>
<p id="PARA369" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA370" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">We recorded $1,636 in cost of revenue for the three month period ended November 30, 2016 compared to $1,647 for the three month period ended November 30, 2015. The decrease of $11 reflects the stability of fees paid for our sub-contracted services.</font></p>
<p id="PARA371" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA372" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Our cost of revenue has consisted of direct costs associated with the delivery of services under our management service agreements, primarily sub-contractor costs. </font></p>
<p id="PARA373" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>&nbsp;</b></font></p>
<p id="PARA374" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>Operating expenses</b></font></p>
<p id="PARA375" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA376" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">We recorded $4,238 in operating expenses for the three month period ended November 30, 2016 compared to $6,156 for the three month period ended November 30, 2015. The decrease of $1,918 primarily reflects lower costs associated with general and administrative and office expenses.</font></p>
<p id="PARA377" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA378" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Our normal operating expenses consisted primarily of professional fees and administrative expenses. Future operating expenses could consist of indirect personnel costs, including fringe benefits, insurance and facility costs, travel and entertainment, depreciation and amortization, marketing and sales, professional services such as legal and accounting, and other general and administrative costs.</font></p>
<p id="PARA379" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA380" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>Other income/expenses</b></font></p>
<p id="PARA381" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>&nbsp;</b></font></p>
<p id="PARA382" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">We recorded $103 of other expense for the three month period ended November 30, 2016 compared to $88 of other expense for the three month period ended November 30, 2015. The increase of $15 was due to additional interest expense on increased loans from our chairman during this fiscal year. </font></p>
<p id="PARA383" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA384" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Our normal transactions included in other income and expenses are generally related to interest expense. In 2015 we recorded other income due to debt forgiveness of professional fees incurred in the initial public offering process.</font></p>
<p id="PARA385" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA386" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><i><b>Nine</b></i><i><b> Month Peri</b></i><i><b>od Ended November 30</b></i><i><b>, 201</b></i><i><b>6</b></i><i><b> Compared to the </b></i><i><b>Nine Month Period Ended November 30, 2015</b></i></font></p>
<p id="PARA387" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA388" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>Revenue</b></font></p>
<p id="PARA389" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>&nbsp;</b></font></p>
<p id="PARA390" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">We recorded $10,722 in revenue from operations for the nine month period ended November 30, 2016 compared to $10,609 for the nine month period ended November 30, 2015. The increase of $113 reflects increases in rent and the overall stability of our rental activities at the properties under management.</font></p>
<p id="PARA391" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA392" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Our revenue is derived from our management service agreements, currently with two clients, both of which are affiliated with our directors and officers. It is our intention in the short term to seek to add additional third party clients. Management believes the local market is underserved and property management companies such as ours can successfully add new clients.</font></p>
<p id="PARA393" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>&nbsp;</b></font></p>
<p id="PARA394" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>Cost of revenue</b></font></p>
<p id="PARA395" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA396" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">We recorded $4,825 in cost of revenue for the nine month period ended November 30, 2016 compared to $4,878 for the nine month period ended November 30, 2015. The decrease of $53 reflects the stability of fees paid for our sub-contracted services.</font></p>
<p id="PARA397" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA398" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Our cost of revenue has consisted of direct costs associated with the delivery of services under our management service agreements, primarily sub-contractor costs. </font></p>
<p id="PARA399" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>&nbsp;</b></font></p>
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<p id="PARA400" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>Operating expenses</b></font></p>
<p id="PARA401" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA402" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">We recorded $16,634 in operating expenses for the nine month period ended November 30, 2016 compared to $25,468 for the nine month period ended November 30, 2015. The decrease of $8,834 primarily reflects lower costs associated with general and administrative expenses, office expenses and professional fees.</font></p>
<p id="PARA403" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA404" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Our normal operating expenses consisted primarily of professional fees and administrative expenses. Future operating expenses could consist of indirect personnel costs, including fringe benefits, insurance and facility costs, travel and entertainment, depreciation and amortization, marketing and sales, professional services such as legal and accounting, and other general and administrative costs.</font></p>
<p id="PARA405" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA406" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>Other income/expenses</b></font></p>
<p id="PARA407" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>&nbsp;</b></font></p>
<p id="PARA408" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">We recorded $311 of other expense for the nine month period ended November 30, 2016 compared to $8,213 of other income for the nine month period ended November 30, 2015. The decrease of $8,524 was due to other income of $8,459 of debt forgiveness increased by $65 of higher interest expense in fiscal year 2017.</font></p>
<p id="PARA409" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA410" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Our normal transactions included in other income and expenses are generally related to interest expense. In 2016 we recorded other income due to debt forgiveness of professional fees incurred in the initial public offering process.</font></p>
<p id="PARA411" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>&nbsp;</b></font></p>
<p style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>Liquidity and Capital Resources</b></font></p>
<p style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>&nbsp;</b></font></p><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b></b></font>
<p id="PARA413" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">During the nine months ended November 30, 2016, the Company incurred a net loss of $11,048, used cash in operations of $2,037, and at November 30, 2016, had a stockholders' deficit of $48,704. These factors, among others, raise substantial doubt about the Company's ability to continue as a going concern. In addition, the Company&#8217;s independent registered public accounting firm, in its report on the Company&#8217;s February 29, 2016 financial statements, has raised substantial doubt about the Company&#8217;s ability to continue as a going concern. The ability of the Company to continue as a going concern is dependent upon the Company&#8217;s ability to raise additional funds and implement its business plan.</font></p>
<p id="PARA414" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA415" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">From January 23, 2014 (inception) through November 30, 2016, we relied on funds loaned to us by Washington Capital Advisors LLC, a company controlled by our Chairman. At November 30, 2016, the outstanding loan and accrued interest amounts due Washington Capital Advisors were $27,500 and $955, respectively.</font></p>
<p id="PARA416" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA417" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">We will need to raise additional capital to carry out our business plan. We believe that our additional capital needs will be approximately $150,000 over the next 18 months to fully carry out our business plan. We expect to raise these additional funds through the issuance of debt obligations and private placements of our Common Stock; however, there can be no assurance that we will be able to raise additional capital or if we are able to raise additional capital that the terms will be acceptable to us. Currently our only definitive financing source is Washington Capital Advisors, which has agreed to loan us up to $50,000 less any currently outstanding loan and accrued interest amounts.</font></p>
<p id="PARA418" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA419" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">In January 2016, the Company initiated a Private Placement of up to 500,000 Units, each Unit consisting of two (2) shares of the Company&#8217;s Common Stock and a Common Stock warrant, to purchase one share of the Company&#8217;s Common Stock. The Units are priced at $0.50 each and the warrant is exercisable for three (3) years after the subscription date for $0.75. At November 30, 2016, and through the date of this filing, there have been no sales of Units. The Company hopes to raise up to $250,000 for general working capital purposes and to investigate the possibility of entering the on-line real estate investment industry. This industry, known to some as real estate crowd funding, has been popularized over the last couple of years and has attracted several companies. Management believes this sector is underserved and lacks a regional company to consolidate funding opportunities. Additionally, management believes it can use its property management services and experience to serve properties acquired through on-line funding.</font></p>
<p id="PARA420" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA421" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Our current expansion and growth plans include establishing satellite offices in counties contiguous to Fauquier County, Virginia during 2017 and eventually statewide. Initially, we will seek to establish these offices in properties that we manage or alternatively focus on geographic areas we identify as in need of our services. This expansion will require additional capital. We plan to raise this additional capital through debt obligations, private placements of our common stock and possibly crowd funding as mentioned above. Failure to raise additional capital will lengthen the time and decrease the scope of our expansion and growth plans.</font></p>
<p id="PARA422" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
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<p id="PARA914.2" style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&nbsp;</font></p>
<p id="PARA423" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Also, management has considered exploring businesses opportunities outside of our current industry focus. If the Company were to find a business opportunity outside of the property management industry, management believes that additional funding would still be necessary in order for the Company to take advantage of any given opportunity.</font></p>
<p id="PARA424" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA425" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The Company had cash on hand of $117 at November 30, 2016. Our primary needs for cash are to fund and grow our ongoing operations. However, we will require additional capital to fully carry out our business plans. </font></p>
<p id="PARA426" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA427" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">During the nine months ended November 30, 2016, the Company had a net decrease in cash of $2,037. The Company&#8217;s sources and uses of cash were as follows:</font></p>
<p id="PARA428" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>&nbsp;</b></font></p>
<p id="PARA429" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>Cash Flows From Operating Activities</b></font></p>
<p id="PARA430" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA431" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">We used net cash of $2,037 in our operating activities during the nine months ended November 30, 2016, consisting of a net loss of $11,048, decreased by net provisions of cash totaling $9,011 due to changes in our operating assets and liabilities.</font></p>
<p id="PARA432" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA433" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">As of November 30, 2016, the Company had negative working capital of $48,704.</font></p>
<p id="PARA434" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA435" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>Off-Balance Sheet Arrangements</b></font></p>
<p id="PARA436" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>&nbsp;</b></font></p>
<p id="PARA437" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The Company was not a party to any off-balance sheet arrangements during the three months ended November 30, 2016.</font></p>
<p id="PARA438" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA439" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>Significant and Critical Accounting Policies and Practices</b><b> and </b><b>Recently Issued Accounting Pronouncements</b></font></p>
<p id="PARA440" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA441" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Please refer to Note 2 in the Notes to the Financial Statements for a discussion on the Company&#8217;s Significant and Critical Accounting Policies and Practices and Recently Issued Accounting Pronouncements.</font></p>
<p id="PARA442" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA443" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>Item 3. Quantitative and Qualitative Disclosures About Market Risk</b></font></p>
<p id="PARA444" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA445" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">As a smaller reporting company, we are not required to provide information under this item.</font></p>
<p id="PARA446" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>&nbsp;</b></font></p>
<p id="PARA447" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>Item 4. Controls and Procedures</b></font></p>
<p id="PARA448" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA449" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><i><b>Evaluation of Disclosure Controls and Procedures</b></i></font></p>
<p id="PARA450" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA451" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Our acting principal executive officer and principal financial officer, after evaluating the effectiveness of our disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) as of the end of the period covered by this Quarterly Report on Form 10-Q, has concluded that, based on such evaluation, our disclosure controls and procedures were effective to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the Commissions rules and forms, and is accumulated and communicated to our management, including our acting principal executive and principal financial officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.</font></p>
<p id="PARA452" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA453" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><i><b>Changes in Internal Controls over Financial Reporting</b></i></font></p>
<p id="PARA454" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><i><b>&nbsp;</b></i></font></p>
<p id="PARA455" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">During the most recently completed fiscal quarter, there has been no significant change in our internal control over financial reporting that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting as such term is defined in Rule&nbsp;13a-15 and 15d-15 of the Exchange Act. </font></p>
<p id="PARA456" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>&nbsp;</b></font></p>
<div id="PGBK915" style="MARGIN-LEFT: 0pt; WIDTH: 100%; MARGIN-RIGHT: 0pt">
<div id="PGFTR915" style="TEXT-ALIGN: center; WIDTH: 100%">&nbsp;</div>
<div id="PGNUM915" style="FONT-SIZE: 10pt; TEXT-ALIGN: center; WIDTH: 100%">8</div>
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<div id="PGHDR915" style="TEXT-ALIGN: left; WIDTH: 100%">&nbsp;</div></div>
<p id="PARA915.2" style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&nbsp;</font></p>
<p id="PARA457" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>PART II. OTHER INFORMATION.</b></font></p>
<p id="PARA458" style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA459" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>Item 1.&nbsp;&nbsp; &nbsp;Legal Proceedings.</b></font></p>
<p id="PARA460" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA461" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"></font><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;As of January 10, 2017, we were not subject to any legal proceedings.&nbsp;&nbsp;</font></p>
<p id="PARA462" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA463" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 58.5pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -58.5pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>Item 1A. Risk Factors</b>.</font></p>
<p id="PARA464" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA465" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;As a smaller reporting company, we are not required to provide information under this item.</font></p>
<p id="PARA466" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA467" style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 58.5pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -58.5pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>Item 2.&nbsp;&nbsp; &nbsp;Unregistered Sales of Equity Securities and Use of Proceeds.</b></font></p>
<p id="PARA469" style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA470" style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;During the three month period ended November 30, 2016, there were no sales of unregistered securities.</font></p>
<p id="PARA471" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA472" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>Item 3.&nbsp;&nbsp; &nbsp;Defaults Upon Senior Securities.</b></font></p>
<p id="PARA473" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA474" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;None.</font></p>
<p id="PARA475" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>&nbsp;</b></font></p>
<p id="PARA476" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>Item 4.&nbsp;&nbsp;&nbsp; </b><b>Mine Safety Disclosures.</b></font></p>
<p id="PARA477" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>&nbsp;</b></font></p>
<p id="PARA478" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b></b>&nbsp;Not applicable.</font></p>
<p id="PARA479" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>&nbsp;</b></font></p>
<p id="PARA480" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>Item 5.&nbsp;&nbsp; &nbsp;Other Information.</b></font></p>
<p id="PARA481" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA482" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;None.</font></p>
<p id="PARA483" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>&nbsp;</b></font></p>
<p id="PARA484" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>Item 6.&nbsp;&nbsp; &nbsp;Exhibits</b></font></p>
<p id="PARA485" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<table id="TBL520" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 9pt; WIDTH: 90%; MARGIN-RIGHT: 10%; TEXT-INDENT: 0px" cellspacing="0" cellpadding="0" border="0">

<tr>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 15%">
<p id="PARA486" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>Exhibit</b></font></p></td>
<td style="VERTICAL-ALIGN: top; WIDTH: 3%">
<p id="PARA487" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; WIDTH: 82%">
<p id="PARA488" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>Description</b></font></p></td></tr>
<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 15%">
<p id="PARA489" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">3.1*</font></p></td>
<td style="VERTICAL-ALIGN: top; WIDTH: 3%">&nbsp; </td>
<td style="VERTICAL-ALIGN: top; WIDTH: 82%">
<p id="PARA490" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Certificate of Incorporation of Property Management Corporation of America</font></p></td></tr>
<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 15%">&nbsp; </td>
<td style="VERTICAL-ALIGN: top; WIDTH: 3%">&nbsp; </td>
<td style="VERTICAL-ALIGN: top; WIDTH: 82%">&nbsp; </td></tr>
<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 15%">
<p id="PARA491" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">3.2*</font></p></td>
<td style="VERTICAL-ALIGN: top; WIDTH: 3%">&nbsp; </td>
<td style="VERTICAL-ALIGN: top; WIDTH: 82%">
<p id="PARA492" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Bylaws of Property Management Corporation of America</font></p></td></tr>
<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 15%">&nbsp; </td>
<td style="VERTICAL-ALIGN: top; WIDTH: 3%">&nbsp; </td>
<td style="VERTICAL-ALIGN: top; WIDTH: 82%">&nbsp; </td></tr>
<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 15%">
<p id="PARA493" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">10.1*</font></p></td>
<td style="VERTICAL-ALIGN: top; WIDTH: 3%">&nbsp; </td>
<td style="VERTICAL-ALIGN: top; WIDTH: 82%">
<p id="PARA494" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Subscription Agreement</font></p></td></tr>
<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 15%">&nbsp; </td>
<td style="VERTICAL-ALIGN: top; WIDTH: 3%">&nbsp; </td>
<td style="VERTICAL-ALIGN: top; WIDTH: 82%">&nbsp; </td></tr>
<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 15%">
<p id="PARA495" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">10.2*</font></p></td>
<td style="VERTICAL-ALIGN: top; WIDTH: 3%">&nbsp; </td>
<td style="VERTICAL-ALIGN: top; WIDTH: 82%">
<p id="PARA496" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Escrow Agreement</font></p></td></tr>
<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 15%">&nbsp; </td>
<td style="VERTICAL-ALIGN: top; WIDTH: 3%">&nbsp; </td>
<td style="VERTICAL-ALIGN: top; WIDTH: 82%">&nbsp; </td></tr>
<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 15%">
<p id="PARA497" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">10.3*</font></p></td>
<td style="VERTICAL-ALIGN: top; WIDTH: 3%">&nbsp; </td>
<td style="VERTICAL-ALIGN: top; WIDTH: 82%">
<p id="PARA498" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Secured Promissory Note between Washington Capital Advisors and Property Management Corporation of America</font></p></td></tr>
<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 15%">&nbsp; </td>
<td style="VERTICAL-ALIGN: top; WIDTH: 3%">&nbsp; </td>
<td style="VERTICAL-ALIGN: top; WIDTH: 82%">&nbsp; </td></tr>
<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 15%">
<p id="PARA499" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">10.4*</font></p></td>
<td style="VERTICAL-ALIGN: top; WIDTH: 3%">&nbsp; </td>
<td style="VERTICAL-ALIGN: top; WIDTH: 82%">
<p id="PARA500" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Management Services Agreement between Marsh Road LLC and Property Management Corporation of America</font></p></td></tr>
<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 15%">&nbsp; </td>
<td style="VERTICAL-ALIGN: top; WIDTH: 3%">&nbsp; </td>
<td style="VERTICAL-ALIGN: top; WIDTH: 82%">&nbsp; </td></tr>
<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 15%">
<p id="PARA501" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">10.5*</font></p></td>
<td style="VERTICAL-ALIGN: top; WIDTH: 3%">&nbsp; </td>
<td style="VERTICAL-ALIGN: top; WIDTH: 82%">
<p id="PARA502" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Management Services Agreement between Main Street Heritage LLC and Property Management Corporation of America</font></p></td></tr>
<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 15%">&nbsp; </td>
<td style="VERTICAL-ALIGN: top; WIDTH: 3%">&nbsp; </td>
<td style="VERTICAL-ALIGN: top; WIDTH: 82%">&nbsp; </td></tr>
<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 15%">
<p id="PARA503" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">21.1*</font></p></td>
<td style="VERTICAL-ALIGN: top; WIDTH: 3%">&nbsp; </td>
<td style="VERTICAL-ALIGN: top; WIDTH: 82%">
<p id="PARA504" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Subsidiaries of Property Management Corporation of America</font></p></td></tr>
<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 15%">&nbsp; </td>
<td style="VERTICAL-ALIGN: top; WIDTH: 3%">&nbsp; </td>
<td style="VERTICAL-ALIGN: top; WIDTH: 82%">&nbsp; </td></tr>
<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 15%">
<p id="PARA505" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">31.1**</font></p></td>
<td style="VERTICAL-ALIGN: top; WIDTH: 3%">
<p id="PARA506" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
<td style="VERTICAL-ALIGN: top; WIDTH: 82%">
<p id="PARA507" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Certification of Acting Principal Executive Officer and Principal Financial Officer Pursuant to Securities Exchange Act Rule 13a-14(a) As Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002</font></p></td></tr>
<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 15%">
<p id="PARA508" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>&nbsp;</b></font></p></td>
<td style="VERTICAL-ALIGN: top; WIDTH: 3%">
<p id="PARA509" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
<td style="VERTICAL-ALIGN: top; WIDTH: 82%">
<p id="PARA510" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td></tr>
<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 15%">
<p id="PARA511" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">32.1**</font></p></td>
<td style="VERTICAL-ALIGN: top; WIDTH: 3%">
<p id="PARA512" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
<td style="VERTICAL-ALIGN: top; WIDTH: 82%">
<p id="PARA513" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Certification of Principal Executive Officer and Principal Financial Officer Pursuant to Section&nbsp;906 of the Sarbanes-Oxley Act of 2002</font></p></td></tr>
<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 15%">
<p id="PARA514" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>&nbsp;</b></font></p></td>
<td style="VERTICAL-ALIGN: top; WIDTH: 3%">
<p id="PARA515" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
<td style="VERTICAL-ALIGN: top; WIDTH: 82%">
<p id="PARA516" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td></tr>
<tr>
<td style="VERTICAL-ALIGN: top; WIDTH: 15%">
<p id="PARA517" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">101**</font></p></td>
<td style="VERTICAL-ALIGN: top; WIDTH: 3%">
<p id="PARA518" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p></td>
<td style="VERTICAL-ALIGN: top; WIDTH: 82%">
<p id="PARA519" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The following materials from the Quarterly Report on Form 10-Q of Property Management Corporation of America for the period ended November 30, 2016 and November 30, 2015, formatted in XBRL (Extensible Business Reporting Language): (i) the Balance Sheets; (ii) the Statements of Operations; (iii) the Statement of Changes in Stockholders&#8217; Deficit; (iv) the Statements of Cash Flows; and (v) Notes to Consolidated Financial Statements.</font></p></td></tr></table>
<p id="PARA521" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA522" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">* Incorporated by reference to the exhibits filed with the Company&#8217;s Registration Statement on Form S-1 (No. 333-196503), effective June 26, 2014.</font></p>
<p id="PARA523" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA524" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">** Exhibit filed with this Quarterly Report on Form 10-Q.</font></p>
<p id="PARA525" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA526.1" style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&nbsp;</font></p>
<div id="PGBK526" style="MARGIN-LEFT: 0pt; WIDTH: 100%; MARGIN-RIGHT: 0pt">
<div id="PGFTR526" style="TEXT-ALIGN: center; WIDTH: 100%">&nbsp;</div>
<div id="PGNUM526" style="FONT-SIZE: 10pt; TEXT-ALIGN: center; WIDTH: 100%">9</div>
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<div id="PGHDR526" style="TEXT-ALIGN: left; WIDTH: 100%">&nbsp;</div></div>
<p id="PARA526.2" style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&nbsp;</font></p>
<p id="PARA527" style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>SIGNATURES</b></font></p>
<p id="PARA528" style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
<p id="PARA529" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned thereunto duly authorized.</font></p>
<p id="PARA530" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</font></p>
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<p id="PARA532" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><b>PROPERTY MANAGEMENT CORPORATIO OF AMERICA</b></font></p></td></tr>
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<p id="PARA535" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Date: January 10, 2017</font></p></td>
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<p id="PARA536" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><i>/s/ Michael T. Brigante</i></font></p></td></tr>
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<p id="PARA538" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Michael T. Brigante, President, Chief Financial Officer and</font></p></td></tr>
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<p id="PARA540" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Acting Chief Executive Officer</font></p></td></tr>
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<p id="PARA541" style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">(Duly Authorized Officer and Principal Financial Officer)</font></p></td></tr></table>
<p id="PARA543" style="MARGIN: 0pt; LINE-HEIGHT: 1.25"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"></font>&nbsp;</p>
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<p style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25">10&nbsp;</p></body></html>
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{"company-data": {"conformed-name": "Property Management Corp of America", "cik": "0001602409", "assigned-sic": "6531", "irs-number": "464600326", "state-of-incorporation": "DE", "fiscal-year-end": "0228"}, "filing-values": {"form-type": "10-Q", "act": "34", "file-number": "000-55477", "film-number": "17519381"}, "business-address": {"street1": "4174 OLD STOCKYARD ROAD, SUITE F", "city": "MARSHALL", "state": "VA", "zip": "20115", "phone": "(540) 364-8181"}, "mail-address": {"street1": "4174 OLD STOCKYARD ROAD, SUITE F", "city": "MARSHALL", "state": "VA", "zip": "20115"}}
pptg20161024_10q.htm
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q
(Mark One)
☒
Quarterly Report Pursuant to Section 13 or 15(d) of Securities Exchange Act of 1934
For the quarterly period ended November 30, 2016
☐
Transition report under Section 13 or 15(d) of the Securities Exchange Act of 1934
For the transition period from _________ to __________.
Commission file number
333-196503
PROPERTY MANAGEMENT CORPORATION OF AMERICA
(Exact Name of Registrant as Specified in its Charter)
Delaware
46-4600326
(State or Other Jurisdiction of Incorporation
or Organization)
(I.R.S. Employer Identification No.)
4174 Old Stockyard Road, Suite F
Marshall, VA
20115
(Address of principal executive offices)
(Zip code)
(540) 364-8131
(Registrant's Telephone Number, Including Area Code)
Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes X No
☐
Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).  Yes ☒
 No
☐
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 ☐
Accelerated filer ☐ 
Non-accelerated filer ☐ 
(Do not check if a smaller reporting company)
Smaller reporting company
☒
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
Yes ☐ No ☒
As of January 10, 2017,
there were 10,307,000 shares of common stock, par value $0.0001 per share, outstanding.
TABLE OF CONTENTS
Page
PART I. FINANCIAL INFORMATION
F-2
Item 1. Financial Statements
F-2
Condensed Balance Sheets - As of November 30, 2016 (Unaudited) and February 29, 2016
F-2
Condensed Statements of Operations (Unaudited)
- Three and nine months ended November 30, 2016 and 2015
F-3
Condensed Statement of Changes in Stockholders' Deficit (Unaudited) – Nine months ended November 30, 2016
F-4
Condensed Statements of Cash Flows (Unaudited) - Nine months ended November 30, 2016 and 2015
F-5
Notes To Condensed Financial Statements (Unaudited) - Three and nine months ended November 30, 2016 and 2015
2
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
5
Item 3. Quantitative and Qualitative Disclosures About Market Risk
8
Item 4. Controls and Procedures
8
PART II. OTHER INFORMATION
9
Item 1. Legal Proceedings
9
Item 1A. Risk Factors
9
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
9
Item 3. Defaults Upon Senior Securities
9
Item 4. Mine Safety Disclosures
9
Item 5. Other Information
9
Item 6. Exhibits
9
SIGNATURES
10
i
PART I. FINANCIAL INFORMATION
Item 1. Financial Statements.
Property Management Corporation of America
Condensed Balance Sheets
November 30, 2016
February 29, 2016
(Unaudited)
ASSETS
CURRENT ASSETS:
Cash
$
117
$
2,154
Management fee receivable-related party
2,432
-
Total Current Assets
$
2,549
$
2,154
LIABILITIES AND STOCKHOLDERS' DEFICIT
CURRENT LIABILITIES:
Accounts payable and accrued expenses (including $9,356 and $5,894,
respectively, due to related party)
$
23,753
$
12,310
Notes payable - related party
27,500
27,500
Total Current Liabilities
51,253
39,810
STOCKHOLDERS' DEFICIT:
Preferred stock par value $0.0001: 1,000,000 shares authorized;
none issued or outstanding
-
-
Common stock par value $0.0001: 18,000,000 shares authorized;
10,307,000 shares issued and outstanding
1,031
1,031
Additional paid-in capital
65,219
65,219
Accumulated deficit
(114,954
)
(103,906
)
Total Stockholders' Deficit
(48,704
)
(37,656
)
Total Liabilities and Stockholders' Deficit
$
2,549
$
2,154
See accompanying notes to the condensed financial statements.
F-2
Property Management Corporation of America
Condensed Statements of Operations
For the Three Months
For the Three Months
For the Nine Months
For the Nine Months
Ended
Ended
Ended
Ended
November 30, 2016
November 30, 2015
November 30, 2016
November 30, 2015
(Unaudited)
(Unaudited)
(Unaudited)
(Unaudited)
Revenue - related parties
$
3,635
$
3,339
$
10,722
$
10,609
Cost of revenue
1,636
1,647
4,825
4,878
Gross margin
1,999
1,692
5,897
5,731
Operating expenses
Professional fees
2,000
1,500
8,438
10,260
General and administrative
1,188
3,606
5,046
12,058
Rent - related party
1,050
1,050
3,150
3,150
Total operating expenses
4,238
6,156
16,634
25,468
Loss from operations
(2,239
)
(4,464
)
(10,737
)
(19,737
)
Other income (expense)
Settlement of debt
-
-
-
8,459
Interest expense - related party
(103
)
$
(88
)
(311
)
(246
)
Other income (expense), net
(103
)
(88
)
(311
)
8,213
Net loss
$
(2,342
)
$
(4,552
)
$
(11,048
)
$
(19,983
)
Earnings per share
- basic and diluted
$
(0.00
)
$
(0.00
)
$
(0.00
)
$
(0.00
)
Weighted average common shares outstanding
- basic and diluted
10,307,000
10,307,000
10,307,000
10,167,350
See accompanying notes to the condensed financial statements.
F-3
Property Management Corporation of America
Condensed Statement of Changes in Stockholders' Deficit
For the Nine Months Ended November 30, 2016
(Unaudited)
Common Stock Par Value $0.0001
Additional
Total
Number of
Paid-in
Accumulated
Stockholders'
Shares
Amount
Capital
Deficit
Deficit
Balance, February 29, 2016
10,307,000
$
1031
$
65,219
$
(103,906
)
$
(37,656
)
Net loss
-
-
-
(11,048
)
(11,048
)
Balance, May 31, 2016
10,307,000
$
1,031
$
65,219
$
(114,954
)
$
(48,704
)
See accompanying notes to the condensed financial statements.
F-4
Property Management Corporation of America
Condensed Statements of Cash Flows
For the Nine Months
For the Nine Months
Ended
Ended
November 30, 2016
November 30, 2015
(Unaudited)
(Unaudited)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss
$
(11,048
)
$
(11,524
)
Adjustments to reconcile net loss to net cash
used in operating activities:
Changes in operating assets and liabilities:
Management fee receivable-related party
(2,432
)
(2,127
)
Accounts payable and accrued expenses
11,443
(7,838
)
Net cash used in operating activities
(2,037
)
(21,489
)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from sale of common stock
-
15,000
Proceeds from notes payable - related party
-
6,000
Net cash provided by financing activities
-
21,000
NET CHANGE IN CASH
(2,037
)
(489
)
Cash at beginning of reporting period
2,154
1,030
Cash at end of reporting period
$
117
$
541
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION:
Interest paid
$
311
$
246
Income taxes paid
$
-
$
-
See accompanying notes to the condensed financial statements.
F-5
Property Management Corporation of America
Nine Months ended November 30, 2016 and 2015
Notes to the Condensed Financial Statements
(
Unaudited
)
Not
e 1 - Organization and Summary of Significant Accounting Policies
Property Management Corporation of America (the "Company") was incorporated on January 23, 2014 under the laws of the State of Delaware. The Company offers management and consulting services to residential and commercial real estate property owners who rent or lease their property to third party tenants.
Basis of Presentation of Unaudited Condensed Financial Information
The unaudited condensed financial statements of the Company for the nine months ended November 30, 2016 and 2015 have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and pursuant to the requirements for reporting on Form 10-Q and Regulation S-K. Accordingly, they do not include all the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. However, such information reflects all adjustments (consisting solely of normal recurring adjustments), which are, in the opinion of management, necessary for the fair presentation of the financial position and the results of operations. Results shown for interim periods are not necessarily indicative of the results to be obtained for a full fiscal year. The balance sheet information as of February 29, 2016 was derived from the audited financial statements included in the Company's financial statements as of and for the year ended February 29, 2016 included in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission (the "SEC") on May 31, 2016. These financial statements should be read in conjunction with that report.
Going Concern
The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. As reflected in the accompanying financial statements, during the nine months ended November 30, 2016, the Company incurred a net loss of $11,048, used cash in operations of $2,037, and at November 30, 2016, had a stockholders' deficit of $48,704. These factors, among others, raise substantial doubt about the Company's ability to continue as a going concern. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.
From January 23, 2014 (inception) through November 30, 2016, we relied on funds loaned to us by Washington Capital Advisors LLC, a company controlled by our Chairman. At November 30, 2016, the outstanding loan and accrued interest amounts due Washington Capital Advisors were $27,500 and $955, respectively.
We will need to raise additional capital to carry out our business plan. We believe that our additional capital needs will be approximately $150,000 over the next 18 months to fully carry out our business plan. We expect to raise these additional funds through the issuance of debt obligations and private placements of our Common Stock; however, there can be no assurance that we will be able to raise additional capital or if we are able to raise additional capital that the terms will be acceptable to us. Currently our only definitive financing source is Washington Capital Advisors LLC, which has agreed to loan us up to $50,000 less any currently outstanding loan and accrued interest amounts.
The Company is attempting to generate sufficient revenue; however, the Company's cash position may not be sufficient to support its daily operations. While the Company believes in the viability of its strategy to commence operations and generate sufficient revenue and in its ability to raise additional funds, there can be no assurances to that effect. The ability of the Company to continue as a going concern is dependent upon its ability to further implement its business plan and generate sufficient revenue and in its ability to raise additional funds.
2
Use of Estimates
The preparation of the financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Significant estimates include accounting for potential liabilities. Actual results could differ from those estimates.
Basic and diluted loss per share
Basic loss per share is computed by dividing net loss applicable to common stockholders by the weighted average number of outstanding common shares during the period. Diluted loss per share is computed by dividing the net loss applicable to common stockholders by the weighted average number of common shares outstanding plus the number of additional common shares that would have been outstanding if all dilutive potential common shares had been issued. For the three and nine months ended November 30, 2016 the basic and diluted shares outstanding were the same, as there were no potentially dilutive shares outstanding.
Fair Value of Financial Instruments
Under current accounting guidance, fair value is defined as the price at which an asset could be exchanged or a liability transferred in a transaction between knowledgeable, willing parties in the principal or most advantageous market for the asset or liability. Where available, fair value is based on observable market prices or parameters or derived from such prices or parameters. Where observable prices or parameters are not available, valuation models are applied. A fair value hierarchy prioritizes the inputs used in measuring fair value into three broad levels as follows:
Level 1 – Quoted prices in active markets for identical assets or liabilities.
Level 2 – Inputs, other than the quoted prices in active markets, are observable either directly or indirectly.
Level 3 – Unobservable inputs based on the Company's assumptions.
The Company is required to use observable market data if such data is available without undue cost and effort. As of November 30, 2016, the amounts reported for cash, accounts payable and accrued liabilities, and notes payable approximated fair value because of their short-term maturities.
Concentrations of Risk
For the nine months ended November 30, 2016 and November 30, 2015, we derived approximately 100% of revenue from contracts with two customers.
Recently Issued Accounting Pronouncements
In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers. ASU 2014-09 is a comprehensive revenue recognition standard that will supersede nearly all existing revenue recognition guidance under current U.S. GAAP and replace it with a principle based approach for determining revenue recognition. ASU 2014-09 will require that companies recognize revenue based on the value of transferred goods or services as they occur in the contract. The ASU also will require additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. ASU 2014-09 is effective for interim and annual periods beginning after December 15, 2017. Early adoption is permitted only in annual reporting periods beginning after December 15, 2016, including interim periods therein. Entities will be able to transition to the standard either retrospectively or as a cumulative-effect adjustment as of the date of adoption. The Company is in the process of evaluating the impact of ASU 2014-09 on the Company's financial statements and disclosures.
In February 2016, the FASB issued Accounting Standards Update (ASU) No. 2016-02, Leases. ASU 2016-02 requires a lessee to record a right of use asset and a corresponding lease liability on the balance sheet for all leases with terms longer than 12 months. ASU 2016-02 is effective for all interim and annual reporting periods beginning after December 15, 2018. Early adoption is permitted. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. The Company is currently evaluating the expected impact that the standard could have on its financial statements and related disclosures.
3
Other recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the Securities and Exchange Commission did not or are not believed by management to have a material impact on the Company's present or future consolidated financial statements.
Note 2
– Related Party Transactions
At November 30, 2016, the Company had notes payable to Washington Capital Advisors LLC, a company controlled by our Chairman, totaling $27,500. The notes are made for working capital purposes, bear interest at 1.5% per annum, are unsecured, and are due on demand.
One hundred percent (100%) of the Company's revenue comes from the management of two properties under management services contracts. These properties are owned in part by our Chairman and the acting Chief Executive Officer, President and Chief Financial Officer of the Company.
The Company sublets an approximate 250 square foot office space from Washington Capital Advisors LLC. in Marshall, Virginia, which serves as its principal executive offices. The sublease is on a month-to-month basis for $350 per month. Rent expense related to its office space was $1,050 for the three month periods ended November 30, 2016 and November 30, 2015, respectively and $3,150 for the nine month periods ended November 30, 2016 and November 30, 2015, respectively.
4
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
This Quarterly Report on Form 10-Q, including, without limitation, Management's Discussion and Analysis of Financial Condition and Results of Operations, conta
ins "forward-looking statements."
The forward-looking information is based on various factors and was derived using numerous assumptions. All statements, other than statements of historical fact, that address activities, events or developments that we intend, expect, project, believe or anticipate will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current conditions, expected future developments and other factors they believe to be appropriate. These forward-looking statements are usually accompanied by words such as "believe," "anticipate," "plan," "seek," "expect," "intend" and similar expressions.
Forward-looking statements necessarily involve risks and uncertainties, and our actual results could differ materially from t
hose anticipated in the forward-
looking statements due to a number of
factors
. These factors as well as other cautionary statements made in this Quarterly Report on Form 10-Q, should be read and understood as being applicable to all related forward-looking statements wherever they appear herein. The forward-looking statements contained in this Quarterly Report on Form 10-Q represent our judgment as of the date hereof. We encourage you to read those descriptions carefully. We caution you not to place undue reliance on the forward-looking statements contained in this report. These statements, like all statements in this report, speak only as of the date of this report (unless an earlier date is indicated) and we undertake no obligation to update or revise the statements except as required by
federal securities
law. Such forward-looking statements are not guarantees of future performance and actual results will likely differ, perhaps materially, from those suggested by such forward-looking statements. In this report, the "
Company,"
"we," "us," and "our" r
efer to Property Management Corporation of America
.
Overview
Property Management Corporation of America offers management and consulting services to residential and commercial real estate property owners who rent or lease their property to third party tenants. The Company currently has two management services agreements, one with Marsh Road LLC (Bealeton, Virginia) and one with Main Street Heritage LLC (Marshall, Virginia), both mixed residential and commercial properties. Our executive officer and our directors together have a 55% ownership interest in these initial properties.
We intend to expand our services in 2017 and execute additional management services agreements with other residential and commercial property owners over the next several months. Our initial expansion and growth plans include establishing satellite offices in counties contiguous with Fauquier County, Virginia and eventually statewide.
We offer exceptional customer service and very competitive pricing, which we believe sets us apart from other property management companies. As we grow, we plan to add additional employees with specific skills to enhance our service offerings. We believe the in-house skill set will enable us to enhance our profitability as we will not need to sub-contract these services.
In addition to our real estate management and consulting services, management has been reviewing and considering other business opportunities in industries outside of the property management industry.
Results of Operations
Three Month Peri
od Ended November 30
, 201
6
Compared to the
Three Month Period Ended November 30, 2015
Revenue
We recorded $3,635 in revenue from operations for the three month period ended November 30, 2016 compared to $3,339 for the three month period ended November 30, 2015. The increase of $296 reflects increases in rent and the overall stability of our rental activities at the properties under management.
Our revenue is derived from our management service agreements, currently with two clients, both of which are affiliated with our directors and officer. It is our intention in the short term to seek to add additional third party clients. Management believes the local market is underserved and property management companies such as ours can successfully add new clients.
5
Cost of revenue
We recorded $1,636 in cost of revenue for the three month period ended November 30, 2016 compared to $1,647 for the three month period ended November 30, 2015. The decrease of $11 reflects the stability of fees paid for our sub-contracted services.
Our cost of revenue has consisted of direct costs associated with the delivery of services under our management service agreements, primarily sub-contractor costs.
Operating expenses
We recorded $4,238 in operating expenses for the three month period ended November 30, 2016 compared to $6,156 for the three month period ended November 30, 2015. The decrease of $1,918 primarily reflects lower costs associated with general and administrative and office expenses.
Our normal operating expenses consisted primarily of professional fees and administrative expenses. Future operating expenses could consist of indirect personnel costs, including fringe benefits, insurance and facility costs, travel and entertainment, depreciation and amortization, marketing and sales, professional services such as legal and accounting, and other general and administrative costs.
Other income/expenses
We recorded $103 of other expense for the three month period ended November 30, 2016 compared to $88 of other expense for the three month period ended November 30, 2015. The increase of $15 was due to additional interest expense on increased loans from our chairman during this fiscal year.
Our normal transactions included in other income and expenses are generally related to interest expense. In 2015 we recorded other income due to debt forgiveness of professional fees incurred in the initial public offering process.
Nine
Month Peri
od Ended November 30
, 201
6
Compared to the
Nine Month Period Ended November 30, 2015
Revenue
We recorded $10,722 in revenue from operations for the nine month period ended November 30, 2016 compared to $10,609 for the nine month period ended November 30, 2015. The increase of $113 reflects increases in rent and the overall stability of our rental activities at the properties under management.
Our revenue is derived from our management service agreements, currently with two clients, both of which are affiliated with our directors and officers. It is our intention in the short term to seek to add additional third party clients. Management believes the local market is underserved and property management companies such as ours can successfully add new clients.
Cost of revenue
We recorded $4,825 in cost of revenue for the nine month period ended November 30, 2016 compared to $4,878 for the nine month period ended November 30, 2015. The decrease of $53 reflects the stability of fees paid for our sub-contracted services.
Our cost of revenue has consisted of direct costs associated with the delivery of services under our management service agreements, primarily sub-contractor costs.
6
Operating expenses
We recorded $16,634 in operating expenses for the nine month period ended November 30, 2016 compared to $25,468 for the nine month period ended November 30, 2015. The decrease of $8,834 primarily reflects lower costs associated with general and administrative expenses, office expenses and professional fees.
Our normal operating expenses consisted primarily of professional fees and administrative expenses. Future operating expenses could consist of indirect personnel costs, including fringe benefits, insurance and facility costs, travel and entertainment, depreciation and amortization, marketing and sales, professional services such as legal and accounting, and other general and administrative costs.
Other income/expenses
We recorded $311 of other expense for the nine month period ended November 30, 2016 compared to $8,213 of other income for the nine month period ended November 30, 2015. The decrease of $8,524 was due to other income of $8,459 of debt forgiveness increased by $65 of higher interest expense in fiscal year 2017.
Our normal transactions included in other income and expenses are generally related to interest expense. In 2016 we recorded other income due to debt forgiveness of professional fees incurred in the initial public offering process.
Liquidity and Capital Resources
During the nine months ended November 30, 2016, the Company incurred a net loss of $11,048, used cash in operations of $2,037, and at November 30, 2016, had a stockholders' deficit of $48,704. These factors, among others, raise substantial doubt about the Company's ability to continue as a going concern. In addition, the Company's independent registered public accounting firm, in its report on the Company's February 29, 2016 financial statements, has raised substantial doubt about the Company's ability to continue as a going concern. The ability of the Company to continue as a going concern is dependent upon the Company's ability to raise additional funds and implement its business plan.
From January 23, 2014 (inception) through November 30, 2016, we relied on funds loaned to us by Washington Capital Advisors LLC, a company controlled by our Chairman. At November 30, 2016, the outstanding loan and accrued interest amounts due Washington Capital Advisors were $27,500 and $955, respectively.
We will need to raise additional capital to carry out our business plan. We believe that our additional capital needs will be approximately $150,000 over the next 18 months to fully carry out our business plan. We expect to raise these additional funds through the issuance of debt obligations and private placements of our Common Stock; however, there can be no assurance that we will be able to raise additional capital or if we are able to raise additional capital that the terms will be acceptable to us. Currently our only definitive financing source is Washington Capital Advisors, which has agreed to loan us up to $50,000 less any currently outstanding loan and accrued interest amounts.
In January 2016, the Company initiated a Private Placement of up to 500,000 Units, each Unit consisting of two (2) shares of the Company's Common Stock and a Common Stock warrant, to purchase one share of the Company's Common Stock. The Units are priced at $0.50 each and the warrant is exercisable for three (3) years after the subscription date for $0.75. At November 30, 2016, and through the date of this filing, there have been no sales of Units. The Company hopes to raise up to $250,000 for general working capital purposes and to investigate the possibility of entering the on-line real estate investment industry. This industry, known to some as real estate crowd funding, has been popularized over the last couple of years and has attracted several companies. Management believes this sector is underserved and lacks a regional company to consolidate funding opportunities. Additionally, management believes it can use its property management services and experience to serve properties acquired through on-line funding.
Our current expansion and growth plans include establishing satellite offices in counties contiguous to Fauquier County, Virginia during 2017 and eventually statewide. Initially, we will seek to establish these offices in properties that we manage or alternatively focus on geographic areas we identify as in need of our services. This expansion will require additional capital. We plan to raise this additional capital through debt obligations, private placements of our common stock and possibly crowd funding as mentioned above. Failure to raise additional capital will lengthen the time and decrease the scope of our expansion and growth plans.
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Also, management has considered exploring businesses opportunities outside of our current industry focus. If the Company were to find a business opportunity outside of the property management industry, management believes that additional funding would still be necessary in order for the Company to take advantage of any given opportunity.
The Company had cash on hand of $117 at November 30, 2016. Our primary needs for cash are to fund and grow our ongoing operations. However, we will require additional capital to fully carry out our business plans.
During the nine months ended November 30, 2016, the Company had a net decrease in cash of $2,037. The Company's sources and uses of cash were as follows:
Cash Flows From Operating Activities
We used net cash of $2,037 in our operating activities during the nine months ended November 30, 2016, consisting of a net loss of $11,048, decreased by net provisions of cash totaling $9,011 due to changes in our operating assets and liabilities.
As of November 30, 2016, the Company had negative working capital of $48,704.
Off-Balance Sheet Arrangements
The Company was not a party to any off-balance sheet arrangements during the three months ended November 30, 2016.
Significant and Critical Accounting Policies and Practices
and
Recently Issued Accounting Pronouncements
Please refer to Note 2 in the Notes to the Financial Statements for a discussion on the Company's Significant and Critical Accounting Policies and Practices and Recently Issued Accounting Pronouncements.
Item 3. Quantitative and Qualitative Disclosures About Market Risk
As a smaller reporting company, we are not required to provide information under this item.
Item 4. Controls and Procedures
Evaluation of Disclosure Controls and Procedures
Our acting principal executive officer and principal financial officer, after evaluating the effectiveness of our disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) as of the end of the period covered by this Quarterly Report on Form 10-Q, has concluded that, based on such evaluation, our disclosure controls and procedures were effective to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the Commissions rules and forms, and is accumulated and communicated to our management, including our acting principal executive and principal financial officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.
Changes in Internal Controls over Financial Reporting
During the most recently completed fiscal quarter, there has been no significant change in our internal control over financial reporting that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting as such term is defined in Rule 13a-15 and 15d-15 of the Exchange Act.
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PART II. OTHER INFORMATION.
Item 1.    Legal Proceedings.
As of January 10, 2017, we were not subject to any legal proceedings.
Item 1A. Risk Factors
.
As a smaller reporting company, we are not required to provide information under this item.
Item 2.    Unregistered Sales of Equity Securities and Use of Proceeds.
During the three month period ended November 30, 2016, there were no sales of unregistered securities.
Item 3.    Defaults Upon Senior Securities.
None.
Item 4.
Mine Safety Disclosures.
Not applicable.
Item 5.    Other Information.
None.
Item 6.    Exhibits
Exhibit
Description
3.1*
Certificate of Incorporation of Property Management Corporation of America
3.2*
Bylaws of Property Management Corporation of America
10.1*
Subscription Agreement
10.2*
Escrow Agreement
10.3*
Secured Promissory Note between Washington Capital Advisors and Property Management Corporation of America
10.4*
Management Services Agreement between Marsh Road LLC and Property Management Corporation of America
10.5*
Management Services Agreement between Main Street Heritage LLC and Property Management Corporation of America
21.1*
Subsidiaries of Property Management Corporation of America
31.1**
Certification of Acting Principal Executive Officer and Principal Financial Officer Pursuant to Securities Exchange Act Rule 13a-14(a) As Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1**
Certification of Principal Executive Officer and Principal Financial Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101**
The following materials from the Quarterly Report on Form 10-Q of Property Management Corporation of America for the period ended November 30, 2016 and November 30, 2015, formatted in XBRL (Extensible Business Reporting Language): (i) the Balance Sheets; (ii) the Statements of Operations; (iii) the Statement of Changes in Stockholders' Deficit; (iv) the Statements of Cash Flows; and (v) Notes to Consolidated Financial Statements.
* Incorporated by reference to the exhibits filed with the Company's Registration Statement on Form S-1 (No. 333-196503), effective June 26, 2014.
** Exhibit filed with this Quarterly Report on Form 10-Q.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned thereunto duly authorized.
PROPERTY MANAGEMENT CORPORATIO OF AMERICA
Date: January 10, 2017
/s/ Michael T. Brigante
Michael T. Brigante, President, Chief Financial Officer and
Acting Chief Executive Officer
(Duly Authorized Officer and Principal Financial Officer)
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