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<TITLE>Form 8-K</TITLE>
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<META NAME="date" CONTENT="2016-05-20T21:26:00Z">
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<P style="margin:0px; padding-left:10.267px; padding-right:10.333px" align=center><B>UNITED STATES</B></P>
<P style="margin:0px; padding-left:10.267px; padding-right:10.467px" align=center><B>SECURITIES AND EXCHANGE COMMISSION</B></P>
<P style="margin:0px; padding-left:117px; padding-right:116.867px" align=center><B>Washington, D.C. 20549</B></P>
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<P style="margin:0px; padding-left:117.2px; padding-right:109.733px" align=center><B>FORM 8-K</B></P>
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<P style="margin:0px; padding-left:117.067px; padding-right:116.867px" align=center><B>CURRENT REPORT</B></P>
<P style="margin:0px; padding-left:117.2px; padding-right:116.867px" align=center><B>Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934</B></P>
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<P style="margin:0px; padding-left:10.267px; padding-right:12.2px" align=center>Date of Report (Date of earliest event reported): May 20, 2016</P>
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<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=top width=638.4><P style="margin:0px" align=center><B>NGFC EQUITIES, INC.</B></P>
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<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=top width=638.4><P style="margin:0px" align=center>(Exact name of registrant as specified in its charter)</P>
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<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=top width=212.8><P style="margin:0px" align=center><B>Florida</B></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=top width=212.8><P style="margin:0px" align=center><B>333-192590</B></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=top width=212.8><P style="margin:0px" align=center><B>46-3914127</B></P>
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<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=top width=212.8><P style="margin:0px" align=center>(State or other jurisdiction</P>
<P style="margin:0px" align=center>of incorporation)</P>
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</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=top width=212.8><P style="margin:0px" align=center>IRS Employer</P>
<P style="margin:0px" align=center>Identification No.</P>
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<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=top width=319.2><P style="margin:0px" align=center><B>45 Almeria Avenue</B></P>
<P style="margin:0px" align=center><B>Coral Gables, Florida 33134</B></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=319.2><P style="margin:0px" align=center><B>33134</B></P>
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<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=top width=319.2><P style="margin:0px" align=center>(Address of principal executive offices)</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=top width=319.2><P style="margin:0px" align=center>(Zip Code)</P>
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<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=top width=638.4><P style="margin:0px" align=center><B>(305) 865-8193</B></P>
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<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=top width=638.4><P style="margin:0px" align=center>(Registrant<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8217;</font>s telephone number, including area code)</P>
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<P style="margin:0px">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>
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<P style="margin:0px" align=justify>[ &nbsp;] &nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</P>
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<P style="margin:0px" align=justify>[ &nbsp;] &nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>
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<P style="margin:0px" align=justify>[ &nbsp;] &nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</P>
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<P style="margin:0px" align=justify>[ &nbsp;] &nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</P>
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<P style="margin:0px; font-family:'Calibri,Times New Roman'; font-size:11pt" align=center>1</P>
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<P style="margin:0px; page-break-before:always" align=center><B>EXPLANATORY NOTE</B></P>
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<P style="margin:0px" align=center><B>FORWARD LOOKING STATEMENTS</B></P>
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<P style="margin:0px"><I>This Form 8-K and other reports filed by Registrant from time to time with the Securities and Exchange Commission (collectively the <font style="font-family:'Arial Unicode MS,Times New Roman'">&#8220;</font>Filings<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8221;</font>) contain or may contain forward looking statements and information that are based upon beliefs of, and information currently available to, Registrant<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8217;</font>s management as well as estimates and assumptions made by Registrant<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8217;</font>s management. When used in the filings the words <font style="font-family:'Arial Unicode MS,Times New Roman'">&#8220;</font>anticipate<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8221;</font>, <font style="font-family:'Arial Unicode MS,Times New Roman'">&#8220;</font>believe<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8221;</font>, <font style="font-family:'Arial Unicode MS,Times New Roman'">&#8220;</font>estimate<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8221;</font>, <font style="font-family:'Arial Unicode MS,Times New Roman'">&#8220;</font>expect<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8221;</font>, <font style="font-family:'Arial Unicode MS,Times New Roman'">&#8220;</font>future<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8221;</font>, <font style="font-family:'Arial Unicode MS,Times New Roman'">&#8220;</font>intend<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8221;</font>, <font style="font-family:'Arial Unicode MS,Times New Roman'">&#8220;</font>plan<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8221;</font> or the negative of these terms and similar expressions as they relate to Registrant or Registrant<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8217;</font>s management identify forward looking statements. Such statements reflect the current view of Registrant with respect to future events and are subject to risks, uncertainties, assumptions and other factors relating to Registrant<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8217;</font>s industry, Registrant<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8217;</font>s operations and results of operations and any businesses that may be acquired by Registrant. Should one or more of these risks or uncertainties materialize, or should the underlying assumptions prove incorrect, actual results may differ significantly from those anticipated, believed, estimated, expected, intended or planned. </I></P>
<P style="margin:0px"><I>&#160;</I></P>
<P style="margin:0px"><I>Although Registrant believes that the expectations reflected in the forward looking statements are reasonable, Registrant cannot guarantee future results, levels of activity, performance or achievements. Except as required by applicable law, including the securities laws of the United States, Registrant does not intend to update any of the forward-looking statements to conform these statements to actual results.</I></P>
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<P style="margin:0px">In this Current Report on Form 8-K, <font style="font-family:'Arial Unicode MS,Times New Roman'">&#8220;</font>Company,<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8221;</font> <font style="font-family:'Arial Unicode MS,Times New Roman'">&#8220;</font>our company,<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8221;</font> <font style="font-family:'Arial Unicode MS,Times New Roman'">&#8220;</font>NGFC,<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8221;</font> <font style="font-family:'Arial Unicode MS,Times New Roman'">&#8220;</font>us,<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8221;</font> and <font style="font-family:'Arial Unicode MS,Times New Roman'">&#8220;</font>our<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8221;</font> refer to NGFC Equities, Inc., unless the context requires otherwise.</P>
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<P style="margin:0px; font-size:11pt" align=justify><B>Item 2.01, Completion of Acquisition or Disposition of Assets</B><FONT style="font-size:10pt"><B>.</B></FONT></P>
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<P style="margin:0px" align=justify><U>NGFC Limited Partnership subsidiary Spin-off</U></P>
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<P style="margin:0px" align=justify>As illustrated on the Form 8-K we filed on March 24, 2015, NGFC Limited Partnership (<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8220;</font>NGLP<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8221;</font>) was formed with NGFC Equities, Inc. designated as the General Partner. The purpose of NGLP was to raise funds through exempt offerings and acquire currently operating gasoline stations along with land and building and rent them to NGFC to operate through NGFC<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8217;</font>s Energy and Retail Division. NGLP invested portion of its funds in the stock market to get a fair return until NGLP raised enough funds and then find such land and building to acquire. However, NGFC found out that this process of raising enough funds to take longer than originally anticipated and also when investing funds in the market there is the possibility of such investment to go above 40% of the total assets of the company making the company fall under the Investment Company Act of 1940 (<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8220;</font>1940 Act<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8221;</font>). &nbsp;Also, when we formed NGLP we chose to have a September 30 fiscal year-end to coincide with the fiscal year of NGFC Equities, Inc., and filed form 1065 with the IRS for the first year ending September 30, 2015. The IRS informed us on May 3, 2016 that a Partnership should have a December 31 year-end. Thus, to avoid any complications the Board of Directors of NGFC at a Board Meeting held on May 19, 2016 decided to pass a resolution to spin off NGLP as an independent partnership with NGFC no longer serving as the General Partner after the end of day May 20, 2016. On May 21, 2016, I. Andrew Weeraratne, the CEO of NGFC who was managing NGLP on behalf of NGFC, will become the General Partner of NGLP. However, if NGLP raised enough funds NGLP principals still may decide to acquire land and building of an operating gasoline station and lease it to NGFC for a fair rental value.</P>
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<P style="margin:0px" align=justify>NGLP<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8217;</font>s strategy is to distribute any excess profits over the amount of contribution to NGLP, paying 30% to the General Partner (<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8220;</font>GP<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8221;</font>) and 70% to the Limited Partners (<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8220;</font>LPs<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8221;</font>). GP does not charge any management fee to provide its services. However, even where there is any realized gains if there is any unrealized losses that exceeds the realized gains making the total net asset value (NAV) to be less than what all partners contributed then no partner will get any cash distribution. Since NGLP began, the following payments have been made by NGLP to NGFC: </P>
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<P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:'Calibri,Times New Roman'; font-size:11pt; float:left">1.</P>
<P style="margin:0px; padding-left:48px; text-indent:-2px" align=justify>$2,500.00 organization cost of NGLP that NGFC paid.</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:'Calibri,Times New Roman'; font-size:11pt; clear:left; float:left">2.</P>
<P style="margin:0px; padding-left:48px; text-indent:-2px" align=justify>$6,697.66 as NGFC share of excess NAV as of April 30, 2016.</P>
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<P style="margin:0px" align=justify>When setting up NGLP, NGFC gave an option for all Limited Partners contributing capital regardless of any paper </P>
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<P style="margin:0px; font-family:'Calibri,Times New Roman'; font-size:11pt" align=center>2</P>
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<P style="margin:0px; page-break-before:always" align=justify>losses within a certain time period to acquire NGFC shares for $0.30 cents per share within a certain period. If LPs of NGLP exercise this option, the LPs will transfer their capital as capital of NGFC invested in NGLP and accept shares of NGFC at $0.30 cents per share. &nbsp;As of May20, 2016, this option has been given to 13 Limited Partners to convert their capital of $485,350 to 1,617,833 shares of NGFC prior to March 31, 2017. If the share price of NGFC is not above $0.30 cents, or if there is no liquidity for NGFC shares then the LPs may not choose to exercise this option and thus they will expire after March 31, 2017. The Board approved to keep this option given to LPs of NGLP to stay intact as originally approved. </P>
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<P style="margin:0px" align=justify>NGLP will do its accounting after market close on May 31, 2016 and will distribute the final share of NGFC<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8217;</font>s gain as the GP of NGLP (ending May 20, 2016) that amounts to 30% of Net Asset Value (NAV), which is excess net gains above what all limited partners have contributed, simultaneously as NGLP<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8212;</font>as per the Partnership Agreement<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8212;</font>distribute to all the Limited Partners their share (which is 70%) of the excess NAV. When doing the tax return for the year end of NGLP, a Form K-1 will be prepared to show the earnings to NGFC till May 20, 2016 as its General Partner. </P>
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<P style="margin:0px" align=center>UNAUDITED PRO FORMA COMBINED FINANCIAL STATEMENTS</P>
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<P style="margin:0px" align=justify>The following unaudited proforma consolidated financial statements give effect to spinoff of NGFC Limited Partnership (NGLP) from NGFC Equities, Inc. (NGFC) consolidated financial statements. &nbsp;</P>
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<P style="margin:0px" align=justify>The unaudited pro forma consolidated financial statements have been prepared for illustrative purposes only and are not necessarily indicative of the consolidated financial position or results of operations in future periods or the results that actually would have been realized had NGFC not acted as the General Partner of NGLP and had not filed consolidated financial statements with NGLP during the specified periods. The unaudited pro forma consolidated financial statements, including the notes thereto, are qualified in their entirety by reference to, and should be read in conjunction with, the historical consolidated financial statements of NGFC included in its Annual Report on Form 10-K for the year ended September 30, 2015 and its Quarterly Report on Form 10-Q for the six months ended March 31, 2016.</P>
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<P style="margin:0px" align=justify>The unaudited pro forma combined balance sheet as of March 31, 2016 as well as the unaudited combined statements of operations for the year ended September 30, 2015 and for the six months ended March 31, 2016, presented herein, gives effect to the spinoff as if the transaction had occurred as of the balance sheet date for the balance sheet and at the beginning of such period for the statements of operations and includes certain adjustments within the Stockholder<font style="font-family:'Arial Unicode MS,Times New Roman'">&#8217;</font>s Equity section that are directly attributable to the transaction.</P>
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</DIV><TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:0"><TD width=19.467 /><TD width=324.067 /><TD width=21.067 /><TD width=73.2 /><TD width=23.4 /><TD width=83.067 /><TD width=21.067 /><TD width=77.867 /></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=643.2 height=17.267 colspan=8><P style="margin:0px" align=center>NGFC EQUITIES, INC.</P>
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<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=643.2 height=17.267 colspan=8><P style="margin:0px" align=center>UNAUDITED PROFORMA CONSOLIDATED BALANCE SHEET</P>
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<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=643.2 height=17.267 colspan=8><P style="margin:0px" align=center>AS AT MARCH 31, 2016</P>
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</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=94.267 height=17.267 colspan=2><P style="margin:0px" align=center>Historical </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=106.467 height=17.267 colspan=2><P style="margin:0px" align=center>Proforma</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=98.933 height=17.267 colspan=2><P style="margin:0px" align=center>Proforma </P>
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</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=94.267 height=17.267 colspan=2><P style="margin:0px" align=center>Consolidated</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=106.467 height=17.267 colspan=2><P style="margin:0px" align=center>Adjustments</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=98.933 height=17.267 colspan=2><P style="margin:0px" align=center>Final</P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=343.533 height=17.267 colspan=2><P style="margin:0px"><U>ASSETS</U></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=73.2 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=23.4 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.067 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=77.867 height=17.267><P style="margin:0px"><BR></P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=343.533 height=17.267 colspan=2><P style="margin:0px">Current assets</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=73.2 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=23.4 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.067 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=77.867 height=17.267><P style="margin:0px"><BR></P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=19.467 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=324.067 height=17.267><P style="margin:0px">Cash and cash equivalent</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17.267><P style="margin:0px" align=center>$</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=73.2 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;394,298 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=23.4 height=17.267><P style="margin:0px" align=center>$</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.067 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;(337,948)</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17.267><P style="margin:0px" align=center>$</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=77.867 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56,350 </P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=19.467 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=324.067 height=17.267><P style="margin:0px">Marketable securities</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=73.2 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;242,801 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=23.4 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.067 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;(194,238)</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=77.867 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48,563 </P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=19.467 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=324.067 height=17.267><P style="margin:0px">Loan receivable related parties</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=73.2 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;687 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=23.4 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.067 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- &nbsp;&nbsp;</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=77.867 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;687 </P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=19.467 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=324.067 height=17.267><P style="margin:0px">Inventory</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:1px solid #000000" valign=bottom width=21.067 height=17.267><P style="margin:0px" align=center>&#160;</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:1px solid #000000" valign=bottom width=73.2 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4,894 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:1px solid #000000" valign=bottom width=23.4 height=17.267><P style="margin:0px" align=center>&#160;</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:1px solid #000000" valign=bottom width=83.067 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- &nbsp;&nbsp;</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:1px solid #000000" valign=bottom width=77.867 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4,894 </P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=19.467 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=324.067 height=17.267><P style="margin:0px">&nbsp;&nbsp;&nbsp;&nbsp;Total current assets</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=73.2 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;642,680 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=23.4 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.067 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;(532,186)</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=77.867 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110,494 </P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=19.467 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=324.067 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=73.2 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=23.4 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.067 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=77.867 height=17.267><P style="margin:0px" align=right><BR></P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=343.533 height=17.267 colspan=2><P style="margin:0px">Fixed assets</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=73.2 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=23.4 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.067 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=77.867 height=17.267><P style="margin:0px" align=right><BR></P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=19.467 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=324.067 height=17.267><P style="margin:0px">Software, net</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=73.2 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,495 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=23.4 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.067 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=77.867 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,495 </P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=19.467 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=324.067 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=73.2 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=23.4 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.067 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=77.867 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- &nbsp;&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=343.533 height=17.267 colspan=2><P style="margin:0px">Other assets</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=73.2 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=23.4 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.067 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=77.867 height=17.267><P style="margin:0px" align=right><BR></P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=19.467 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=324.067 height=17.267><P style="margin:0px">Investment in NGFC Partnership</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=73.2 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- &nbsp;&nbsp;</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=23.4 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.067 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17,521 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=77.867 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17,521 </P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=19.467 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=324.067 height=17.267><P style="margin:0px">Goodwill</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=73.2 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;361,049 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=23.4 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.067 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- &nbsp;&nbsp;</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=77.867 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;361,049 </P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=19.467 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=324.067 height=17.267><P style="margin:0px">Customer list-net of amortization</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:1px solid #000000" valign=bottom width=73.2 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95,833 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=23.4 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:1px solid #000000" valign=bottom width=83.067 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- &nbsp;&nbsp;</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:1px solid #000000" valign=bottom width=77.867 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95,833 </P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=19.467 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=324.067 height=17.267><P style="margin:0px">&nbsp;&nbsp;&nbsp;&nbsp;</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=73.2 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;456,882 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=23.4 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.067 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17,521 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=77.867 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;474,403 </P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=19.467 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=324.067 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=73.2 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=23.4 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.067 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=77.867 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- &nbsp;&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=343.533 height=17.267 colspan=2><P style="margin:0px">Total assets</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:3px double #000000" valign=bottom width=21.067 height=17.267><P style="margin:0px" align=center>$</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:3px double #000000" valign=bottom width=73.2 height=17.267><P style="margin:0px" align=right>&nbsp;1,103,057 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:3px double #000000" valign=bottom width=23.4 height=17.267><P style="margin:0px" align=center>$</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:3px double #000000" valign=bottom width=83.067 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;(514,665)</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17.267><P style="margin:0px" align=center>$</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:3px double #000000" valign=bottom width=77.867 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;588,392 </P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=19.467 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=324.067 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=73.2 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=23.4 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.067 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=77.867 height=17.267><P style="margin:0px" align=right><BR></P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=343.533 height=17 colspan=2><P style="margin:0px"><U>LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)</U></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=73.2 height=17><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=23.4 height=17><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.067 height=17><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=77.867 height=17><P style="margin:0px" align=right><BR></P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=343.533 height=17 colspan=2><P style="margin:0px">Current liabilities</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=73.2 height=17><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=23.4 height=17><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.067 height=17><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=77.867 height=17><P style="margin:0px" align=right><BR></P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=19.467 height=17><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=324.067 height=17><P style="margin:0px">Credit Card payable</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17><P style="margin:0px" align=center>$</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=73.2 height=17><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,384 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=23.4 height=17><P style="margin:0px" align=center>$</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.067 height=17><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- &nbsp;&nbsp;</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17><P style="margin:0px" align=center>$</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=77.867 height=17><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,384 </P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=19.467 height=17><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=324.067 height=17><P style="margin:0px">Deferred revenue</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=73.2 height=17><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- &nbsp;&nbsp;</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=23.4 height=17><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.067 height=17><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- &nbsp;&nbsp;</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=77.867 height=17><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- &nbsp;&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=19.467 height=17><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=324.067 height=17><P style="margin:0px">Loan payable related party</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=73.2 height=17><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- &nbsp;&nbsp;</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=23.4 height=17><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.067 height=17><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- &nbsp;&nbsp;</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=77.867 height=17><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- &nbsp;&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=19.467 height=17><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=324.067 height=17><P style="margin:0px">Rent payable</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=73.2 height=17><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,400 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=23.4 height=17><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.067 height=17><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- &nbsp;&nbsp;</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=77.867 height=17><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,400 </P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=19.467 height=17><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=324.067 height=17><P style="margin:0px">&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-top:1px solid #000000" valign=bottom width=73.2 height=17><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4,784 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=23.4 height=17><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-top:1px solid #000000" valign=bottom width=83.067 height=17><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- &nbsp;&nbsp;</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-top:1px solid #000000" valign=bottom width=77.867 height=17><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4,784 </P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=19.467 height=17><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=324.067 height=17><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=73.2 height=17><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=23.4 height=17><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.067 height=17><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=77.867 height=17><P style="margin:0px" align=right><BR></P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=343.533 height=17 colspan=2><P style="margin:0px">Stockholders' equity (deficit)</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=73.2 height=17><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=23.4 height=17><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.067 height=17><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=77.867 height=17><P style="margin:0px" align=right><BR></P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=19.467 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=324.067 height=17.267><P style="margin:0px">Preferred stock: $.0001 par value; 10,000,000 shares authorized, no shares issued and outstanding</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=73.2 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=23.4 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.067 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=77.867 height=17.267><P style="margin:0px" align=right><BR></P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=19.467 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=324.067 height=17.267><P style="margin:0px">Class A Common stock: $.0001 par value; 230,000,000 shares authorized, 18,092,674 shares issued and outstanding for the period end</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=73.2 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,809 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=23.4 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.067 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=77.867 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,809 </P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=19.467 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=324.067 height=17.267><P style="margin:0px">Class B Common stock: $.0001 par value; 60,000,000 shares authorized, 7,000,000 shares issued and outstanding for the period end</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=73.2 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=23.4 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.067 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=77.867 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 </P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=19.467 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" width=324.067 height=17.267><P style="margin:0px">Additional paid-in capital</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=73.2 height=17.267><P style="margin:0px" align=right>&nbsp;1,040,187 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=23.4 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.067 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=77.867 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;1,040,187 </P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=19.467 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" width=324.067 height=17.267><P style="margin:0px">Accumulated deficit</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=73.2 height=17.267><P style="margin:0px" align=right>&nbsp;(558,254)</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=23.4 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.067 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21,463 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=77.867 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;(536,791)</P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=19.467 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=324.067 height=17.267><P style="margin:0px">&nbsp;&nbsp;&nbsp;&nbsp;Total stockholders' equity (deficit)</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-top:1px solid #000000" valign=bottom width=73.2 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;484,442 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=23.4 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-top:1px solid #000000" valign=bottom width=83.067 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21,463 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-top:1px solid #000000" valign=bottom width=77.867 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;505,905 </P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=19.467 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=324.067 height=17.267><P style="margin:0px">Non Controlling Interest</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=73.2 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;613,831 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=23.4 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.067 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;(536,128)</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=77.867 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77,703 </P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=19.467 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=324.067 height=17.267><P style="margin:0px">Total Equity</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=73.2 height=17.267><P style="margin:0px" align=right>&nbsp;1,098,273 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=23.4 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.067 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=77.867 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;583,608 </P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=19.467 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=324.067 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=73.2 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=23.4 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.067 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=77.867 height=17.267><P style="margin:0px" align=right><BR></P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=343.533 height=17.267 colspan=2><P style="margin:0px">Total liabilities and stockholders' equity (deficit)</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:3px double #000000" valign=bottom width=21.067 height=17.267><P style="margin:0px" align=center>$</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:3px double #000000" valign=bottom width=73.2 height=17.267><P style="margin:0px" align=right>&nbsp;1,103,057 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:3px double #000000" valign=bottom width=23.4 height=17.267><P style="margin:0px" align=center>$</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:3px double #000000" valign=bottom width=83.067 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;(514,665)</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.067 height=17.267><P style="margin:0px" align=center>$</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:3px double #000000" valign=bottom width=77.867 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;588,392 </P>
</TD></TR>
</TABLE>
<DIV style="width:624px"><P style="margin:0px" align=justify><BR></P>
</DIV><TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:0"><TD width=69.2 /><TD width=14.8 /><TD width=6.667 /><TD width=201.2 /><TD width=20.8 /><TD width=95.133 /><TD width=20.8 /><TD width=83.4 /><TD width=20.8 /><TD width=99.067 /></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=631.867 height=17.267 colspan=10><P style="margin:0px" align=center>NGFC EQUITIES, INC.</P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=631.867 height=17.267 colspan=10><P style="margin:0px" align=center>UNAUDITED PROFORMA CONSOLIDATED STATEMENTS OF OPERATIONS</P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=631.867 height=17.267 colspan=10><P style="margin:0px" align=center>FOR THE SIX MONTHS ENDED MARCH 31, 2016</P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=69.2 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=14.8 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=207.867 height=17.267 colspan=2><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=95.133 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.4 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=99.067 height=17.267><P style="margin:0px"><BR></P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=69.2 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=14.8 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=207.867 height=17.267 colspan=2><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=115.933 height=17.267 colspan=2><P style="margin:0px" align=center>Historical </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=104.2 height=17.267 colspan=2><P style="margin:0px" align=center>Proforma</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=119.867 height=17.267 colspan=2><P style="margin:0px" align=center>Proforma </P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=69.2 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=14.8 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=207.867 height=17.267 colspan=2><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=115.933 height=17.267 colspan=2><P style="margin:0px" align=center>Consolidated</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=104.2 height=17.267 colspan=2><P style="margin:0px" align=center>Adjustments</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=119.867 height=17.267 colspan=2><P style="margin:0px" align=center>Final</P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=84 height=17.267 colspan=2><P style="margin:0px">Revenue</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=207.867 height=17.267 colspan=2><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=95.133 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.4 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=99.067 height=17.267><P style="margin:0px"><BR></P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=69.2 height=17.267><P style="margin:0px">Sales</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=14.8 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=207.867 height=17.267 colspan=2><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=center>$</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=95.133 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144,862 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=center>$</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.4 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=center>$</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=99.067 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144,862 </P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=291.867 height=17.267 colspan=4><P style="margin:0px">Cost of goods sold</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=95.133 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.4 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=99.067 height=17.267><P style="margin:0px" align=right><BR></P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=69.2 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=222.667 height=17.267 colspan=3><P style="margin:0px">Purchases - Parts and Materials</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:1px solid #000000" valign=bottom width=95.133 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54,098 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.4 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=99.067 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54,098 </P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=69.2 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=14.8 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=207.867 height=17.267 colspan=2><P style="margin:0px">Total Cost of Goods Sold</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=95.133 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54,098 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.4 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=99.067 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54,098 </P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=69.2 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=14.8 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=207.867 height=17.267 colspan=2><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=95.133 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.4 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=99.067 height=17.267><P style="margin:0px" align=right><BR></P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=69.2 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=222.667 height=17.267 colspan=3><P style="margin:0px">Gross profits</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=95.133 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90,764 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.4 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=99.067 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90,764 </P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=69.2 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=14.8 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=207.867 height=17.267 colspan=2><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=95.133 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.4 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=99.067 height=17.267><P style="margin:0px" align=right><BR></P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=291.867 height=17.267 colspan=4><P style="margin:0px">Operating expenses</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=95.133 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.4 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=99.067 height=17.267><P style="margin:0px" align=right><BR></P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=69.2 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=222.667 height=17.267 colspan=3><P style="margin:0px">Legal fees</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=95.133 height=17.267><P style="margin:0px" align=right>4,535 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.4 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=99.067 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4,535 </P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=69.2 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=222.667 height=17.267 colspan=3><P style="margin:0px">Accounting fees</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=95.133 height=17.267><P style="margin:0px" align=right>12,700 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.4 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=99.067 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12,700 </P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=69.2 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=222.667 height=17.267 colspan=3><P style="margin:0px">Officer compensation</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=95.133 height=17.267><P style="margin:0px" align=right>31,637 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.4 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=99.067 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31,637 </P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=69.2 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=222.667 height=17.267 colspan=3><P style="margin:0px">Depreciation and amortization</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=95.133 height=17.267><P style="margin:0px" align=right>25,500 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.4 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=99.067 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25,500 </P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=69.2 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=222.667 height=17.267 colspan=3><P style="margin:0px">Consulting fees</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=95.133 height=17.267><P style="margin:0px" align=right>20,250 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.4 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=99.067 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20,250 </P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=69.2 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=222.667 height=17.267 colspan=3><P style="margin:0px">General and administrative</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:1px solid #000000" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=center>&#160;</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:1px solid #000000" valign=bottom width=95.133 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26,420 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:1px solid #000000" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=center>&#160;</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:1px solid #000000" valign=bottom width=83.4 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(800)</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:1px solid #000000" valign=bottom width=99.067 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25,620 </P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=69.2 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=14.8 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=207.867 height=17.267 colspan=2><P style="margin:0px">Total operating expenses</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:1px solid #000000" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=center>&#160;</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:1px solid #000000" valign=bottom width=95.133 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121,042 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:1px solid #000000" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=center>&#160;</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:1px solid #000000" valign=bottom width=83.4 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(800)</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:1px solid #000000" valign=bottom width=99.067 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120,242 </P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=69.2 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=14.8 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=207.867 height=17.267 colspan=2><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=95.133 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.4 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=99.067 height=17.267><P style="margin:0px" align=right><BR></P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=291.867 height=17.267 colspan=4><P style="margin:0px">Loss from operations</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=center>$</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:1px solid #000000" valign=bottom width=95.133 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(30,278)</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=center>$</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:1px solid #000000" valign=bottom width=83.4 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=center>$</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:1px solid #000000" valign=bottom width=99.067 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(29,478)</P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=69.2 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=21.467 height=17.267 colspan=2><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=201.2 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=95.133 height=17.267><P style="margin:0px" align=right>&#160;</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.4 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=99.067 height=17.267><P style="margin:0px" align=right><BR></P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=90.667 height=17.267 colspan=3><P style="margin:0px">Other income</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=201.2 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=95.133 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.4 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=99.067 height=17.267><P style="margin:0px" align=right><BR></P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=69.2 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=222.667 height=17.267 colspan=3><P style="margin:0px">Long term capital loss</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=95.133 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(550)</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.4 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=99.067 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(550)</P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=69.2 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=222.667 height=17.267 colspan=3><P style="margin:0px">Realized gain on marketable securities</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=95.133 height=17.267><P style="margin:0px" align=right>117,085 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.4 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(83,675)</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=99.067 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33,410 </P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=69.2 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=222.667 height=17.267 colspan=3><P style="margin:0px">Unrealized loss on marketable securities</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=95.133 height=17.267><P style="margin:0px" align=right>(107,286)</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.4 height=17.267><P style="margin:0px" align=right>(83,453)</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=99.067 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(190,739)</P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=69.2 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=222.667 height=17.267 colspan=3><P style="margin:0px">Dividends received</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:1px solid #000000" valign=bottom width=95.133 height=17.267><P style="margin:0px" align=right>1,109 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:1px solid #000000" valign=bottom width=83.4 height=17.267><P style="margin:0px" align=right>(574)</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:1px solid #000000" valign=bottom width=99.067 height=17.267><P style="margin:0px" align=right>535 </P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=69.2 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=14.8 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=207.867 height=17.267 colspan=2><P style="margin:0px">Total other income/(loss)</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=95.133 height=17.267><P style="margin:0px" align=right>10,358 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.4 height=17.267><P style="margin:0px" align=right>(796)</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=99.067 height=17.267><P style="margin:0px" align=right>9,562 </P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=69.2 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=14.8 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=207.867 height=17.267 colspan=2><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=95.133 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.4 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=99.067 height=17.267><P style="margin:0px" align=right><BR></P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=84 height=17.267 colspan=2><P style="margin:0px">Net loss</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=207.867 height=17.267 colspan=2><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=95.133 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19,920)</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=center><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.4 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=99.067 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19,916)</P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=312.667 height=17.267 colspan=5><P style="margin:0px">Less: Net income (loss) attributable to the Non Controlling Interest</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=95.133 height=17.267><P style="margin:0px" align=right>(24,820)</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.4 height=17.267><P style="margin:0px" align=right>(1,419)</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=99.067 height=17.267><P style="margin:0px" align=right>(26,239)</P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=291.867 height=17.267 colspan=4><P style="margin:0px">Net loss attributable to NGFC Shareholders</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=95.133 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(44,740)</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.4 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1,415)</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=99.067 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(46,155)</P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=69.2 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=14.8 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=207.867 height=17.267 colspan=2><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=95.133 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.4 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=99.067 height=17.267><P style="margin:0px" align=right><BR></P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=291.867 height=17.267 colspan=4><P style="margin:0px">Basic and diluted loss per common share</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=center>$</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:3px double #000000" valign=bottom width=95.133 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.00)</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=center>$</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:3px double #000000" valign=bottom width=83.4 height=17.267><P style="margin:0px" align=right>&#160;</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=right>$</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:3px double #000000" valign=bottom width=99.067 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.00)</P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=69.2 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=14.8 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=207.867 height=17.267 colspan=2><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=95.133 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.4 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=99.067 height=17.267><P style="margin:0px" align=right><BR></P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=291.867 height=17.267 colspan=4><P style="margin:0px">Basic and diluted weighted average number of common shares outstanding</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:3px double #000000" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=center>&#160;</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:3px double #000000" valign=bottom width=95.133 height=17.267><P style="margin:0px" align=right>25,046,438 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=83.4 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=20.8 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:3px double #000000" valign=bottom width=99.067 height=17.267><P style="margin:0px" align=right>25,046,438 </P>
</TD></TR>
</TABLE>
<DIV style="width:624px"><P style="margin:0px" align=justify><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px" align=justify><BR></P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0 align=center><TR height=0 style="font-size:0"><TD width=328.4 /><TD width=8.333 /><TD width=87 /><TD width=8.333 /><TD width=93.933 /><TD width=8.333 /><TD width=87 /></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=621.333 height=17.267 colspan=7><P style="margin:0px" align=center>NGFC EQUITIES, INC.</P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=621.333 height=17.267 colspan=7><P style="margin:0px" align=center>UNAUDITED PROFORMA CONSOLIDATED STATEMENTS OF OPERATIONS</P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=621.333 height=17.267 colspan=7><P style="margin:0px" align=center>FOR THE YEAR ENDED SEPTEMBER 30, 2015</P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=328.4 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=87 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=93.933 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=87 height=17.267><P style="margin:0px"><BR></P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=328.4 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=95.333 height=17.267 colspan=2><P style="margin:0px" align=center>Historical </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=102.267 height=17.267 colspan=2><P style="margin:0px" align=center>Proforma</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=95.333 height=17.267 colspan=2><P style="margin:0px" align=center>Proforma </P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=328.4 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=95.333 height=17.267 colspan=2><P style="margin:0px" align=center>Consolidated</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=102.267 height=17.267 colspan=2><P style="margin:0px" align=center>Adjustments</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=95.333 height=17.267 colspan=2><P style="margin:0px" align=center>Final</P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=328.4 height=17.267><P style="margin:0px">Revenue</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=87 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=93.933 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=87 height=17.267><P style="margin:0px"><BR></P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=328.4 height=17.267><P style="margin:0px">Sales</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px" align=center>$</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=87 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62,429 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=93.933 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px" align=center>$</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=87 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62,429 </P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=328.4 height=17.267><P style="margin:0px">Cost of goods sold</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:1px solid #000000" valign=bottom width=87 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60,222 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=93.933 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=87 height=17.267><P style="margin:0px" align=right><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60,222 </U></P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=328.4 height=17.267><P style="margin:0px">&nbsp;Gross profits</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=87 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,207 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=93.933 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=87 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,207 </P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=328.4 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=87 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=93.933 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=87 height=17.267><P style="margin:0px" align=right><BR></P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=328.4 height=17.267><P style="margin:0px">Operating expenses</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=87 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=93.933 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=87 height=17.267><P style="margin:0px" align=right><BR></P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=328.4 height=17.267><P style="margin:0px">&nbsp;Legal fees</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=87 height=17.267><P style="margin:0px" align=right>21,457 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=93.933 height=17.267><P style="margin:0px" align=right>(2,500)</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=87 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18,957 </P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=328.4 height=17.267><P style="margin:0px">&nbsp;Accounting fees</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=87 height=17.267><P style="margin:0px" align=right>12,550 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=93.933 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=87 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12,550 </P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=328.4 height=17.267><P style="margin:0px">&nbsp;Officer compensation</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=87 height=17.267><P style="margin:0px" align=right>62,754 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=93.933 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=87 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62,754 </P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=328.4 height=17.267><P style="margin:0px">&nbsp;Depreciation and amortization</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=87 height=17.267><P style="margin:0px" align=right>30,167 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=93.933 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=87 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30,167 </P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=328.4 height=17.267><P style="margin:0px">&nbsp;Consulting fees</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=87 height=17.267><P style="margin:0px" align=right>166,250 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=93.933 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=87 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66,250 </P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=328.4 height=17.267><P style="margin:0px">&nbsp;General and administrative</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:1px solid #000000" valign=bottom width=87 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113,915 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:1px solid #000000" valign=bottom width=93.933 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(401)</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:1px solid #000000" valign=bottom width=87 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113,514 </P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=328.4 height=17.267><P style="margin:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px" align=center>$</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:1px solid #000000" valign=bottom width=87 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;407,093 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px" align=center>$</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:1px solid #000000" valign=bottom width=93.933 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2,901)</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px" align=center>$</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:1px solid #000000" valign=bottom width=87 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;404,192 </P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=328.4 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=87 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=93.933 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=87 height=17.267><P style="margin:0px" align=right><BR></P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=328.4 height=17.267><P style="margin:0px">Loss from operations</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:1px solid #000000" valign=bottom width=87 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(404,886)</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:1px solid #000000" valign=bottom width=93.933 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,901 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:1px solid #000000" valign=bottom width=87 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(401,985)</P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=328.4 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=87 height=17.267><P style="margin:0px" align=right>&#160;</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=93.933 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=87 height=17.267><P style="margin:0px" align=right><BR></P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=328.4 height=17.267><P style="margin:0px">Other income</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=87 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=93.933 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=87 height=17.267><P style="margin:0px" align=right><BR></P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=328.4 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=87 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=93.933 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=87 height=17.267><P style="margin:0px" align=right><BR></P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=328.4 height=17.267><P style="margin:0px">&nbsp;Realized gain on marketable securities</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=87 height=17.267><P style="margin:0px" align=right>17,274 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=93.933 height=17.267><P style="margin:0px" align=right>(10,266)</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=87 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7,008 </P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=328.4 height=17.267><P style="margin:0px">&nbsp;Unrealized loss on marketable securities</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=87 height=17.267><P style="margin:0px" align=right>(57,176)</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=93.933 height=17.267><P style="margin:0px" align=right>28,824 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=87 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28,352)</P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=328.4 height=17.267><P style="margin:0px">&nbsp;Dividends received</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:1px solid #000000" valign=bottom width=87 height=17.267><P style="margin:0px" align=right>333 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:1px solid #000000" valign=bottom width=93.933 height=17.267><P style="margin:0px" align=right>&#160;</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:1px solid #000000" valign=bottom width=87 height=17.267><P style="margin:0px" align=right>333 </P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=328.4 height=17.267><P style="margin:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total other income</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px" align=center>$</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=87 height=17.267><P style="margin:0px" align=right>(39,569)</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=93.933 height=17.267><P style="margin:0px" align=right>18,558 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px" align=center>$</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=87 height=17.267><P style="margin:0px" align=right>(21,011)</P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=328.4 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=87 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=93.933 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=87 height=17.267><P style="margin:0px" align=right><BR></P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=328.4 height=17.267><P style="margin:0px">Net loss</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=87 height=17.267><P style="margin:0px" align=right>(444,455)</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=93.933 height=17.267><P style="margin:0px" align=right>21,459 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=87 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(422,996)</P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=328.4 height=17.267><P style="margin:0px">Less: Net Loss attributable to the Non Controlling Interest</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=87 height=17.267><P style="margin:0px" align=right>19,896 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=93.933 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5,346)</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=87 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14,550 </P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=328.4 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=87 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=93.933 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=87 height=17.267><P style="margin:0px" align=right><BR></P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=328.4 height=17.267><P style="margin:0px">Net loss attributable to NGFC Shareholders</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px" align=center>$</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:3px double #000000" valign=bottom width=87 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(424,559)</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px" align=center>$</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:3px double #000000" valign=bottom width=93.933 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16,113 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px" align=center>$</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:3px double #000000" valign=bottom width=87 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(408,446)</P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=328.4 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=87 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=93.933 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=87 height=17.267><P style="margin:0px" align=right><BR></P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=top width=328.4 height=17.267><P style="margin:0px">Net loss attributable to NGFC basic and diluted loss per common share</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:3px double #000000" valign=bottom width=87 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.02)</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=93.933 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:3px double #000000" valign=bottom width=87 height=17.267><P style="margin:0px" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.02)</P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=328.4 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=87 height=17.267><P style="margin:0px" align=right><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=93.933 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=87 height=17.267><P style="margin:0px" align=right><BR></P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=top width=328.4 height=17.267><P style="margin:0px">Basic and diluted weighted average number of common shares outstanding</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:3px double #000000" valign=bottom width=87 height=17.267><P style="margin:0px" align=right>22,137,706 </P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=93.933 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=bottom width=8.333 height=17.267><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:3px double #000000" valign=bottom width=87 height=17.267><P style="margin:0px" align=right>22,137,706 </P>
</TD></TR>
</TABLE>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=center><BR>
<BR></P>
<P style="margin:0px; font-family:'Calibri,Times New Roman'; font-size:11pt" align=center>6</P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; page-break-before:always" align=center>NOTES AND ASSUMPTIONS TO PRO FORMA CONSOLIDATED FINANCIAL STATEMENTS</P>
<P style="margin:0px" align=center>(Unaudited)</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify>The cash and marketable securities adjusted out of historical consolidated Balance Sheet are the balances of NGLP as of March 31, 2016. &nbsp;$17,521 represents $16,721, the amount NGFC has invested in NGLP and $800 that NGLP owes to NGFC for audit and accounting fees. $21,463 adjusted out of the consolidated Balance Sheet is the net accumulated loss of NGLP as of March 31, 2016 and $536,128 represents the total capital of NGLP.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify>The amounts adjusted out of consolidated Statement of Operations for the six months ended March 31, 2016 mainly the capital gain, dividends and unrealized capital losses belong to NGLP for that period and $800 expenses for audit and accounting expenses. Net loss of $4 for the period has been adjusted along with $1,419, representing losses regarding the loss attributable to the non-controlling interest due to NGLP consolidation. </P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify>The amounts adjusted out of consolidated Statement of Operations for the year ended September 30, 2015 also represent the capital gain, dividends and unrealized capital losses belong to NGLP for that period and $400 expenses for audit and accounting expenses and $2,500 of organizational cost. Net loss of $21,459 for the period has been adjusted along with $5,346, representing losses regarding the loss attributable to the non-controlling interest due to NGLP consolidation. </P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px; padding-right:10.667px" align=center><B>SIGNATURES</B></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; text-indent:48px" align=justify>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 hereunto duly authorized.</P>
<P style="margin:0px"><BR></P>
</DIV><TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:0"><TD width=127.2 /><TD width=85.6 /><TD width=106.4 /><TD width=26.467 /><TD width=186.333 /><TD width=106.4 /></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=top width=127.2><P style="margin:0px">Date: May 20, 2016</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=top width=85.6><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=top width=106.4><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=top width=319.2 colspan=3><P style="margin:0px; padding-left:-7.2px"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NGFC Equities, Inc.</B></P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=top width=127.2><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=top width=85.6><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=top width=106.4><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=top width=26.467><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=top width=186.333><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=top width=106.4><P style="margin:0px"><BR></P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=top width=127.2><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=top width=85.6><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=top width=106.4><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=top width=26.467><P style="margin:0px; padding-left:-7.2px">By:</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px; border-bottom:1px solid #000000" valign=top width=186.333><P style="margin:0px; padding-left:-3.667px"><I>/s/ I. Andrew Weeraratne</I></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=top width=106.4><P style="margin:0px"><BR></P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=top width=127.2><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=top width=85.6><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=top width=106.4><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=top width=26.467><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=top width=186.333><P style="margin:0px; padding-left:-3.667px">Name: I. Andrew Weeraratne</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=top width=106.4><P style="margin:0px"><BR></P>
</TD></TR>
<TR><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=top width=127.2><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=top width=85.6><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=top width=106.4><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=top width=26.467><P style="margin:0px"><BR></P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=top width=186.333><P style="margin:0px; padding-left:-3.667px">Title: Chief Executive Officer</P>
</TD><TD style="margin-top:0px; padding-left:4px; padding-top:0px; padding-right:4px; padding-bottom:0px" valign=top width=106.4><P style="margin:0px"><BR></P>
</TD></TR>
</TABLE>
<DIV style="width:624px"><P style="margin:0px"><BR></P>
<P style="margin:0px"><BR>
<BR></P>
<P style="margin:0px; font-family:'Calibri,Times New Roman'; font-size:11pt" align=center>7</P>
<P style="margin:0px" align=center><BR></P>
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{"company-data": {"conformed-name": "NGFC Equities, Inc.", "cik": "0001590715", "assigned-sic": "7600", "irs-number": "463914127", "state-of-incorporation": "FL", "fiscal-year-end": "0930"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-55456", "film-number": "161667344"}, "business-address": {"street1": "7135 COLLINS AVE NO. 624", "city": "MIAMI BEACH", "state": "FL", "zip": "33141", "phone": "3058658193"}, "mail-address": {"street1": "7135 COLLINS AVE NO. 624", "city": "MIAMI BEACH", "state": "FL", "zip": "33141"}, "former-company": [{"former-conformed-name": "NGFC Equities, INC.", "date-changed": "20150512"}, {"former-conformed-name": "NATURAL GAS FUELING & CONVERSION INC.", "date-changed": "20131031"}]}
Form 8-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 20, 2016
NGFC EQUITIES, INC.
(Exact name of registrant as specified in its charter)
Florida
333-192590
46-3914127
(State or other jurisdiction
of incorporation)
(Commission File Number)
IRS Employer
Identification No.
45 Almeria Avenue
Coral Gables, Florida 33134
33134
(Address of principal executive offices)
(Zip Code)
(305) 865-8193
(Registrant
'
s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
1
EXPLANATORY NOTE
FORWARD LOOKING STATEMENTS
This Form 8-K and other reports filed by Registrant from time to time with the Securities and Exchange Commission (collectively the
"
Filings
"
) contain or may contain forward looking statements and information that are based upon beliefs of, and information currently available to, Registrant
'
s management as well as estimates and assumptions made by Registrant
'
s management. When used in the filings the words
"
anticipate
"
,
"
believe
"
,
"
estimate
"
,
"
expect
"
,
"
future
"
,
"
intend
"
,
"
plan
"
or the negative of these terms and similar expressions as they relate to Registrant or Registrant
'
s management identify forward looking statements. Such statements reflect the current view of Registrant with respect to future events and are subject to risks, uncertainties, assumptions and other factors relating to Registrant
'
s industry, Registrant
'
s operations and results of operations and any businesses that may be acquired by Registrant. Should one or more of these risks or uncertainties materialize, or should the underlying assumptions prove incorrect, actual results may differ significantly from those anticipated, believed, estimated, expected, intended or planned.
Although Registrant believes that the expectations reflected in the forward looking statements are reasonable, Registrant cannot guarantee future results, levels of activity, performance or achievements. Except as required by applicable law, including the securities laws of the United States, Registrant does not intend to update any of the forward-looking statements to conform these statements to actual results.
In this Current Report on Form 8-K,
"
Company,
"
"
our company,
"
"
NGFC,
"
"
us,
"
and
"
our
"
refer to NGFC Equities, Inc., unless the context requires otherwise.
Item 2.01, Completion of Acquisition or Disposition of Assets
.
NGFC Limited Partnership subsidiary Spin-off
As illustrated on the Form 8-K we filed on March 24, 2015, NGFC Limited Partnership (
"
NGLP
"
) was formed with NGFC Equities, Inc. designated as the General Partner. The purpose of NGLP was to raise funds through exempt offerings and acquire currently operating gasoline stations along with land and building and rent them to NGFC to operate through NGFC
'
s Energy and Retail Division. NGLP invested portion of its funds in the stock market to get a fair return until NGLP raised enough funds and then find such land and building to acquire. However, NGFC found out that this process of raising enough funds to take longer than originally anticipated and also when investing funds in the market there is the possibility of such investment to go above 40% of the total assets of the company making the company fall under the Investment Company Act of 1940 (
"
1940 Act
"
).  Also, when we formed NGLP we chose to have a September 30 fiscal year-end to coincide with the fiscal year of NGFC Equities, Inc., and filed form 1065 with the IRS for the first year ending September 30, 2015. The IRS informed us on May 3, 2016 that a Partnership should have a December 31 year-end. Thus, to avoid any complications the Board of Directors of NGFC at a Board Meeting held on May 19, 2016 decided to pass a resolution to spin off NGLP as an independent partnership with NGFC no longer serving as the General Partner after the end of day May 20, 2016. On May 21, 2016, I. Andrew Weeraratne, the CEO of NGFC who was managing NGLP on behalf of NGFC, will become the General Partner of NGLP. However, if NGLP raised enough funds NGLP principals still may decide to acquire land and building of an operating gasoline station and lease it to NGFC for a fair rental value.
NGLP
'
s strategy is to distribute any excess profits over the amount of contribution to NGLP, paying 30% to the General Partner (
"
GP
"
) and 70% to the Limited Partners (
"
LPs
"
). GP does not charge any management fee to provide its services. However, even where there is any realized gains if there is any unrealized losses that exceeds the realized gains making the total net asset value (NAV) to be less than what all partners contributed then no partner will get any cash distribution. Since NGLP began, the following payments have been made by NGLP to NGFC:
1.
$2,500.00 organization cost of NGLP that NGFC paid.
2.
$6,697.66 as NGFC share of excess NAV as of April 30, 2016.
When setting up NGLP, NGFC gave an option for all Limited Partners contributing capital regardless of any paper
2
losses within a certain time period to acquire NGFC shares for $0.30 cents per share within a certain period. If LPs of NGLP exercise this option, the LPs will transfer their capital as capital of NGFC invested in NGLP and accept shares of NGFC at $0.30 cents per share.  As of May20, 2016, this option has been given to 13 Limited Partners to convert their capital of $485,350 to 1,617,833 shares of NGFC prior to March 31, 2017. If the share price of NGFC is not above $0.30 cents, or if there is no liquidity for NGFC shares then the LPs may not choose to exercise this option and thus they will expire after March 31, 2017. The Board approved to keep this option given to LPs of NGLP to stay intact as originally approved.
NGLP will do its accounting after market close on May 31, 2016 and will distribute the final share of NGFC
'
s gain as the GP of NGLP (ending May 20, 2016) that amounts to 30% of Net Asset Value (NAV), which is excess net gains above what all limited partners have contributed, simultaneously as NGLP
—
as per the Partnership Agreement
—
distribute to all the Limited Partners their share (which is 70%) of the excess NAV. When doing the tax return for the year end of NGLP, a Form K-1 will be prepared to show the earnings to NGFC till May 20, 2016 as its General Partner.
UNAUDITED PRO FORMA COMBINED FINANCIAL STATEMENTS
The following unaudited proforma consolidated financial statements give effect to spinoff of NGFC Limited Partnership (NGLP) from NGFC Equities, Inc. (NGFC) consolidated financial statements.
The unaudited pro forma consolidated financial statements have been prepared for illustrative purposes only and are not necessarily indicative of the consolidated financial position or results of operations in future periods or the results that actually would have been realized had NGFC not acted as the General Partner of NGLP and had not filed consolidated financial statements with NGLP during the specified periods. The unaudited pro forma consolidated financial statements, including the notes thereto, are qualified in their entirety by reference to, and should be read in conjunction with, the historical consolidated financial statements of NGFC included in its Annual Report on Form 10-K for the year ended September 30, 2015 and its Quarterly Report on Form 10-Q for the six months ended March 31, 2016.
The unaudited pro forma combined balance sheet as of March 31, 2016 as well as the unaudited combined statements of operations for the year ended September 30, 2015 and for the six months ended March 31, 2016, presented herein, gives effect to the spinoff as if the transaction had occurred as of the balance sheet date for the balance sheet and at the beginning of such period for the statements of operations and includes certain adjustments within the Stockholder
'
s Equity section that are directly attributable to the transaction.
NGFC EQUITIES, INC.
UNAUDITED PROFORMA CONSOLIDATED BALANCE SHEET
AS AT MARCH 31, 2016
Historical
Proforma
Proforma
Consolidated
Adjustments
Final
ASSETS
Current assets
Cash and cash equivalent
$
394,298
$
(337,948)
$
56,350
Marketable securities
242,801
(194,238)
48,563
Loan receivable related parties
687
-
687
Inventory
4,894
-
4,894
Total current assets
642,680
(532,186)
110,494
Fixed assets
Software, net
3,495
3,495
-
Other assets
Investment in NGFC Partnership
-
17,521
17,521
Goodwill
361,049
-
361,049
Customer list-net of amortization
95,833
-
95,833
456,882
17,521
474,403
-
Total assets
$
1,103,057
$
(514,665)
$
588,392
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
Current liabilities
Credit Card payable
$
2,384
$
-
$
2,384
Deferred revenue
-
-
-
Loan payable related party
-
-
-
Rent payable
2,400
-
2,400
Total current liabilities
4,784
-
4,784
Stockholders' equity (deficit)
Preferred stock: $.0001 par value; 10,000,000 shares authorized, no shares issued and outstanding
Class A Common stock: $.0001 par value; 230,000,000 shares authorized, 18,092,674 shares issued and outstanding for the period end
1,809
1,809
Class B Common stock: $.0001 par value; 60,000,000 shares authorized, 7,000,000 shares issued and outstanding for the period end
700
700
Additional paid-in capital
1,040,187
1,040,187
Accumulated deficit
(558,254)
21,463
(536,791)
Total stockholders' equity (deficit)
484,442
21,463
505,905
Non Controlling Interest
613,831
(536,128)
77,703
Total Equity
1,098,273
583,608
Total liabilities and stockholders' equity (deficit)
$
1,103,057
$
(514,665)
$
588,392
NGFC EQUITIES, INC.
UNAUDITED PROFORMA CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE SIX MONTHS ENDED MARCH 31, 2016
Historical
Proforma
Proforma
Consolidated
Adjustments
Final
Revenue
Sales
$
144,862
$
$
144,862
Cost of goods sold
Purchases - Parts and Materials
54,098
54,098
Total Cost of Goods Sold
54,098
54,098
Gross profits
90,764
90,764
Operating expenses
Legal fees
4,535
4,535
Accounting fees
12,700
12,700
Officer compensation
31,637
31,637
Depreciation and amortization
25,500
25,500
Consulting fees
20,250
20,250
General and administrative
26,420
(800)
25,620
Total operating expenses
121,042
(800)
120,242
Loss from operations
$
(30,278)
$
800
$
(29,478)
Other income
Long term capital loss
(550)
(550)
Realized gain on marketable securities
117,085
(83,675)
33,410
Unrealized loss on marketable securities
(107,286)
(83,453)
(190,739)
Dividends received
1,109
(574)
535
Total other income/(loss)
10,358
(796)
9,562
Net loss
(19,920)
4
(19,916)
Less: Net income (loss) attributable to the Non Controlling Interest
(24,820)
(1,419)
(26,239)
Net loss attributable to NGFC Shareholders
(44,740)
(1,415)
(46,155)
Basic and diluted loss per common share
$
(0.00)
$
$
(0.00)
Basic and diluted weighted average number of common shares outstanding
25,046,438
25,046,438
NGFC EQUITIES, INC.
UNAUDITED PROFORMA CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE YEAR ENDED SEPTEMBER 30, 2015
Historical
Proforma
Proforma
Consolidated
Adjustments
Final
Revenue
Sales
$
62,429
$
62,429
Cost of goods sold
60,222
60,222
Gross profits
2,207
2,207
Operating expenses
Legal fees
21,457
(2,500)
18,957
Accounting fees
12,550
12,550
Officer compensation
62,754
62,754
Depreciation and amortization
30,167
30,167
Consulting fees
166,250
66,250
General and administrative
113,915
(401)
113,514
Total operating expenses
$
407,093
$
(2,901)
$
404,192
Loss from operations
(404,886)
2,901
(401,985)
Other income
Realized gain on marketable securities
17,274
(10,266)
7,008
Unrealized loss on marketable securities
(57,176)
28,824
28,352)
Dividends received
333
333
Total other income
$
(39,569)
18,558
$
(21,011)
Net loss
(444,455)
21,459
(422,996)
Less: Net Loss attributable to the Non Controlling Interest
19,896
(5,346)
14,550
Net loss attributable to NGFC Shareholders
$
(424,559)
$
16,113
$
(408,446)
Net loss attributable to NGFC basic and diluted loss per common share
(0.02)
(0.02)
Basic and diluted weighted average number of common shares outstanding
22,137,706
22,137,706
6
NOTES AND ASSUMPTIONS TO PRO FORMA CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)
The cash and marketable securities adjusted out of historical consolidated Balance Sheet are the balances of NGLP as of March 31, 2016.  $17,521 represents $16,721, the amount NGFC has invested in NGLP and $800 that NGLP owes to NGFC for audit and accounting fees. $21,463 adjusted out of the consolidated Balance Sheet is the net accumulated loss of NGLP as of March 31, 2016 and $536,128 represents the total capital of NGLP.
The amounts adjusted out of consolidated Statement of Operations for the six months ended March 31, 2016 mainly the capital gain, dividends and unrealized capital losses belong to NGLP for that period and $800 expenses for audit and accounting expenses. Net loss of $4 for the period has been adjusted along with $1,419, representing losses regarding the loss attributable to the non-controlling interest due to NGLP consolidation.
The amounts adjusted out of consolidated Statement of Operations for the year ended September 30, 2015 also represent the capital gain, dividends and unrealized capital losses belong to NGLP for that period and $400 expenses for audit and accounting expenses and $2,500 of organizational cost. Net loss of $21,459 for the period has been adjusted along with $5,346, representing losses regarding the loss attributable to the non-controlling interest due to NGLP consolidation.
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 hereunto duly authorized.
Date: May 20, 2016
NGFC Equities, Inc.
By:
/s/ I. Andrew Weeraratne
Name: I. Andrew Weeraratne
Title: Chief Executive Officer
7