<HTML><HEAD><TITLE>Applied Digital Solutions, Inc. Form S-8</TITLE><!-- Licensed to: Cenveo Color Art--><!-- Document Created using EDGARIZER HTML --><!-- Copyright 2004 EDGARfilings, Ltd., an IEC company.--><!-- All rights reserved EDGARfilings.com --></HEAD>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; COLOR: red; FONT-FAMILY: Times New Roman">As Filed with the Securities and Exchange Commission on December&nbsp;&nbsp;10, 2004</FONT></DIV>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 14pt; FONT-FAMILY: Times New Roman, serif"><STRONG>UNITED STATES</STRONG></FONT></DIV>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><STRONG>REGISTRATION STATEMENT</STRONG></FONT></DIV>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><STRONG>THE SECURITIES ACT OF 1933</STRONG></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 15pt; FONT-FAMILY: Times New Roman, serif"><STRONG>APPLIED DIGITAL SOLUTIONS, INC.</STRONG></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">(Exact name of Registrant as specified in its charter)</FONT></DIV>
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<P align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&nbsp;(State or other jurisdiction of</FONT></P></TD>
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<P align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&nbsp;(I.R.S. Employer</FONT></P></TD>
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<P align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&nbsp;incorporation or organization)</FONT></P></TD>
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<P align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&nbsp;Identification No.)</FONT></P></TD>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><STRONG>1690 South Congress Avenue, Suite 200</STRONG></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><STRONG>Delray Beach, Florida 33445</STRONG></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><STRONG>(561) 805-8000</STRONG></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">(Address, including zip code, and telephone number, including area code,</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">of Registrant&#146;s principal executive offices)</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><BR></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><STRONG><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Offer of Employment Letters, Non-Qualified Stock Option Awards and </FONT><FONT size=2>Consulting Agreement</FONT></STRONG></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT size=2>(Full title of the plans)</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT size=2></FONT>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><STRONG>Scott R. Silverman</STRONG></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><STRONG><FONT size=2>Chief Executive Officer</FONT></STRONG></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><STRONG>1690 South Congress Avenue, Suite 200</STRONG></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><STRONG>Delray Beach, Florida 33445</STRONG></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><STRONG>Phone: (561) 805-8000</STRONG></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><STRONG>Fax: (561) 805-8001</STRONG></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">(Name, address, including zip code, and telephone number,</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">including area code, of agent for service)</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><BR></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">Copies of all correspondence to:</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif"><STRONG>Harvey Goldman, Esq.</STRONG></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif"><STRONG>Holland &amp; Knight LLP</STRONG></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif"><STRONG>701 Brickell Avenue, Suite 3000</STRONG></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif"><STRONG>Miami, Florida 33131-5441</STRONG></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif"><STRONG>Phone: (305) 789-7506</STRONG></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif"><STRONG>Fax: (305) 349-2238</STRONG></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><BR></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT id=TAB1 style="MARGIN-LEFT: 18pt"></FONT><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><STRONG>CALCULATION OF REGISTRATION FEE</STRONG></FONT></DIV>
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<TD style="BORDER-BOTTOM: #000000 double" vAlign=top align=middle width="15%">&nbsp;</TD>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Title of Each Class</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">of Securities to be</FONT></DIV>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Registered <SUP>(1)(3)(4)</SUP></FONT></DIV></TD>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Proposed Maximum</FONT></DIV>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Per&nbsp;Share <SUP>(2)</SUP></FONT></DIV></TD>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Proposed Maximum</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Aggregate</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Offering Price</FONT></DIV></TD>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Amount of</FONT></DIV>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Fee<SUP>(2)</SUP></FONT></DIV></TD></TR>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Common Stock, $0.01 par value per share</FONT></DIV></TD>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">145,000 shares</FONT></DIV></TD>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">$5.60</FONT></DIV></TD>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">$812,000</FONT></DIV></TD>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">$102.88</FONT></DIV></TD></TR></TABLE></FONT></DIV>
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<TD style="WIDTH: 18pt" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(1) </FONT></TD>
<TD align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">This registration statement registers an aggregate of 145,000 shares of Applied Digital Solutions, Inc.<FONT face="Times New Roman">&#146;</FONT>s (the &#147;Company&#148;) common stock, authorized for issuance under the terms of stock option grants, which were issued as an inducement to employment, or as an inducement to provide services to the Company as a director or independent consultant.<BR></FONT></TD></TR></TABLE>
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<TD style="WIDTH: 18pt" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(2) </FONT></TD>
<TD align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: Times New Roman">Pursuant to Rules 457(c) and 457(h) of the Securities Act of 1933, the proposed offering price and registration fee have been calculated on the basis of the average of the high and low trading prices for the common stock on December 3, 2004, as reported on the Nasdaq SmallCap Market. <BR></FONT></TD></TR></TABLE>
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<TD style="WIDTH: 18pt" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(3)</FONT></TD>
<TD align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant to Rule 416 under the Securities Act of 1933, as amended, to the extent additional shares of Company common stock may be issued or issuable to prevent dilution resulting from stock splits, stock dividends or similar transactions,</FONT><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&nbsp;</FONT><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">this registration statement is hereby deemed to cover all of such additional shares of common stock.<BR></FONT></TD></TR></TABLE>
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<TD style="WIDTH: 18pt" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(4)</FONT></TD>
<TD align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The letter of offer of employment between the Company and Angela Fulcher dated March 3, 2004 (the &#147;Fulcher Offer Letter&#148;) provides for an option grant to acquire 10,000 shares of the Company&#146;s common stock. The option grant was provided to Ms. Fulcher as an inducement to her employment with the Company. Ms. Fulcher serves as the Company&#146;s Vice President, Marketing and Communications. The Fulcher Offer Letter qualifies as an Employee Benefit Plan as defined under Rule 405 of Regulation C.<BR></FONT></TD></TR></TABLE></DIV>
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<TD style="WIDTH: 18pt" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(4)</FONT></TD>
<TD align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The letter of offer of employment between the Company and Jay McKeage dated June 16, 2004 (the &#147;McKeage Offer Letter&#148;) provides for an option grant to acquire 100,000 shares of the Company&#146;s common stock. The option grant was provided to Mr. McKeage as an inducement to his employment with the Company. Mr. McKeage serves as the Company&#146;s Vice President, Business Development. The McKeage Offer Letter qualifies as an Employee Benefit Plan as defined under Rule 405 of Regulation C.</FONT><FONT id=TAB2 style="COLOR: black; LETTER-SPACING: 27pt">&nbsp; &nbsp;</FONT>&nbsp;</TD></TR></TABLE></DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify>
<TABLE id=hangingindent style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" cellSpacing=0 cellPadding=0 width="100%" align=center border=0>
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<TD style="WIDTH: 18pt" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(4)</FONT></TD>
<TD align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The consulting service agreement between the Company and Ovations International dated December 24, 2002 (the &#147;Ovations Consulting Agreement&#148;), provides for an option grant to acquire 10,000 shares of the Company&#146;s common stock in exchange for performing media relations and public relations services&nbsp;for the Company. The term of the Ovations Consulting Agreement was eight months unless terminated earlier by either party. The Ovations Consulting Agreement qualifies as an Employee Benefit Plan as defined under Rule 405 of Regulation C.</FONT></TD></TR></TABLE></DIV></FONT>
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=left><BR></DIV>
<TABLE id=hangingindent style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" cellSpacing=0 cellPadding=0 width="100%" align=center border=0>
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<TD style="WIDTH: 18pt" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(4)</FONT></TD>
<TD align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On January 12, 2004, options to purchase 25,000 shares of the Company&#146;s common stock were granted to Mr. J. Michael Norris&nbsp;under the terms of two Non-Qualified Stock Option Awards (the &#147;Stock Option Awards&#148; in consideration for Mr. Norris<FONT face="Times New Roman">&#146;</FONT> becoming a member of the Company&#146;s Board of Directors). The Stock Option Awards qualify as Employee Benefit Plans as defined under Rule 405 of Regulation C. </FONT></TD></TR></TABLE>
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<DIV></DIV><BR><BR></DIV>
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</FONT></TD></TR></TABLE>
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<TD vAlign=bottom width="100%">&nbsp;</TD></TR></TABLE><BR></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><STRONG>PART II</STRONG></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><STRONG><FONT size=2></FONT></STRONG>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><STRONG>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</STRONG></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><BR></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif"><STRONG>[Items 1 and 2 are inapplicable and have been omitted.]</STRONG></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><STRONG></STRONG>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif"><STRONG>Item 3. Incorporation of Documents by Reference.</STRONG></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><STRONG></STRONG>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif">The following documents filed by us with the Securities and Exchange Commission (the <FONT face="Times New Roman">&#147;</FONT>Commission<FONT face="Times New Roman">&#148;</FONT>) are incorporated herein by reference in this registration statement:</FONT></DIV>
<DIV>
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<TD style="WIDTH: 18pt" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: CG Times, Times New Roman, serif">a)</FONT></TD>
<TD align=left><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: CG Times, Times New Roman, serif">The Company<FONT face="Times New Roman">&#146;</FONT>s Annual Report on Form 10-K for the year ended December 31, 2003, filed with the Commission on March 15, 2004, and as amended on September 24, 2004;</FONT></TD></TR></TABLE></DIV>
<DIV>
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<DIV>&nbsp;</DIV>
<DIV>
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<TD style="WIDTH: 36pt">&nbsp;</TD>
<TD style="WIDTH: 18pt" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: CG Times, Times New Roman, serif">b)</FONT></TD>
<TD align=left><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: CG Times, Times New Roman, serif">The Company&#146;s Current Report on Form 8-K filed with the Commission on March 16, 2004; </FONT></TD></TR></TABLE></DIV>
<DIV>
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<TD style="WIDTH: 36pt">&nbsp;</TD>
<TD style="WIDTH: 18pt" align=left>&nbsp;</TD>
<TD align=left>&nbsp;</TD></TR></TABLE></DIV>
<DIV>
<TABLE id=hangingindent cellSpacing=0 cellPadding=0 width="100%" align=center border=0>
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<TD style="WIDTH: 36pt">&nbsp;</TD>
<TD style="WIDTH: 18pt" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: CG Times, Times New Roman, serif">c)</FONT></TD>
<TD align=left><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: CG Times, Times New Roman, serif">The Company&#146;s Current Report on Form 8-K filed with the Commission on April 5, 2004;</FONT></TD></TR></TABLE></DIV>
<DIV>
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<TD style="WIDTH: 36pt">&nbsp;</TD>
<TD style="WIDTH: 18pt" align=left>&nbsp;</TD>
<TD align=left>&nbsp;</TD></TR></TABLE></DIV>
<DIV>
<TABLE id=hangingindent cellSpacing=0 cellPadding=0 width="100%" align=center border=0>
<TR style="LINE-HEIGHT: 1.25" vAlign=top>
<TD style="WIDTH: 36pt">&nbsp;</TD>
<TD style="WIDTH: 18pt" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: CG Times, Times New Roman, serif">d)</FONT></TD>
<TD align=left><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: CG Times, Times New Roman, serif">The Company&#146;s Current Report on Form 8-K filed with the Commission on April 15, 2004; </FONT></TD></TR></TABLE></DIV>
<DIV>
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<TD style="WIDTH: 36pt">&nbsp;</TD>
<TD style="WIDTH: 18pt" align=left>&nbsp;</TD>
<TD align=left>&nbsp;</TD></TR></TABLE></DIV>
<DIV>
<TABLE id=hangingindent cellSpacing=0 cellPadding=0 width="100%" align=center border=0>
<TR style="LINE-HEIGHT: 1.25" vAlign=top>
<TD style="WIDTH: 36pt">&nbsp;</TD>
<TD style="WIDTH: 18pt" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: CG Times, Times New Roman, serif">e)</FONT></TD>
<TD align=left><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: CG Times, Times New Roman, serif">The Company&#146;s Quarterly Report on Form 10-Q for the quarter ended March 31, 2004, filed with the Commission on May 5, 2004, and as amended on May 24, 2004;</FONT></TD></TR></TABLE></DIV>
<DIV>
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<TD style="WIDTH: 36pt">&nbsp;</TD>
<TD style="WIDTH: 18pt" align=left>&nbsp;</TD>
<TD align=left>&nbsp;</TD></TR></TABLE></DIV>
<DIV>
<TABLE id=hangingindent cellSpacing=0 cellPadding=0 width="100%" align=center border=0>
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<TD style="WIDTH: 36pt">&nbsp;</TD>
<TD style="WIDTH: 18pt" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: CG Times, Times New Roman, serif">f)</FONT></TD>
<TD align=left><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: CG Times, Times New Roman, serif">The Company&#146;s Current Report on Form 8-K filed with the Commission on May 7, 2004;</FONT></TD></TR></TABLE></DIV>
<DIV>
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<TD style="WIDTH: 36pt">&nbsp;</TD>
<TD style="WIDTH: 18pt" align=left>&nbsp;</TD>
<TD align=left>&nbsp;</TD></TR></TABLE></DIV>
<DIV>
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<TD style="WIDTH: 36pt">&nbsp;</TD>
<TD style="WIDTH: 18pt" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: CG Times, Times New Roman, serif">g)</FONT></TD>
<TD align=left><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: CG Times, Times New Roman, serif">The Company&#146;s Quarterly Report on Form 10-Q for the quarter ended June 30, 2004, filed with the Commission on August 3, 2004; </FONT></TD></TR></TABLE></DIV>
<DIV>
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<TD style="WIDTH: 36pt">&nbsp;</TD>
<TD style="WIDTH: 18pt" align=left>&nbsp;</TD>
<TD align=left>&nbsp;</TD></TR></TABLE></DIV>
<DIV>
<TABLE id=hangingindent cellSpacing=0 cellPadding=0 width="100%" align=center border=0>
<TR style="LINE-HEIGHT: 1.25" vAlign=top>
<TD style="WIDTH: 36pt">&nbsp;</TD>
<TD style="WIDTH: 18pt" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: CG Times, Times New Roman, serif">h)</FONT></TD>
<TD align=left><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: CG Times, Times New Roman, serif">The Company&#146;s Current Report on Form 8-K filed with the Commission on August 5, 2004;</FONT></TD></TR></TABLE></DIV>
<DIV>
<TABLE id=hangingindent cellSpacing=0 cellPadding=0 width="100%" align=center border=0>
<TR style="LINE-HEIGHT: 1.25" vAlign=top>
<TD style="WIDTH: 36pt">&nbsp;</TD>
<TD style="WIDTH: 18pt" align=left>&nbsp;</TD>
<TD align=left>&nbsp;</TD></TR></TABLE></DIV>
<DIV>
<TABLE id=hangingindent cellSpacing=0 cellPadding=0 width="100%" align=center border=0>
<TR style="LINE-HEIGHT: 1.25" vAlign=top>
<TD style="WIDTH: 36pt">&nbsp;</TD>
<TD style="WIDTH: 18pt" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: CG Times, Times New Roman, serif">i)</FONT></TD>
<TD align=left><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: CG Times, Times New Roman, serif">The Company&#146;s Current Report on Form 8-K filed with the Commission on October 13, 2004;</FONT></TD></TR></TABLE></DIV>
<DIV>
<TABLE id=hangingindent cellSpacing=0 cellPadding=0 width="100%" align=center border=0>
<TR style="LINE-HEIGHT: 1.25" vAlign=top>
<TD style="WIDTH: 36pt">&nbsp;</TD>
<TD style="WIDTH: 18pt" align=left>&nbsp;</TD>
<TD align=left>&nbsp;</TD></TR></TABLE></DIV>
<DIV>
<TABLE id=hangingindent cellSpacing=0 cellPadding=0 width="100%" align=center border=0>
<TR style="LINE-HEIGHT: 1.25" vAlign=top>
<TD style="WIDTH: 36pt">&nbsp;</TD>
<TD style="WIDTH: 18pt" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: CG Times, Times New Roman, serif">j)</FONT></TD>
<TD align=left><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: CG Times, Times New Roman, serif">The Company&#146;s Current Report on Form 8-K filed with the Commission on October 22, 2004;</FONT></TD></TR></TABLE></DIV>
<DIV>
<TABLE id=hangingindent cellSpacing=0 cellPadding=0 width="100%" align=center border=0>
<TR style="LINE-HEIGHT: 1.25" vAlign=top>
<TD style="WIDTH: 36pt">&nbsp;</TD>
<TD style="WIDTH: 18pt" align=left>&nbsp;</TD>
<TD align=left>&nbsp;</TD></TR></TABLE></DIV>
<DIV>
<TABLE id=hangingindent cellSpacing=0 cellPadding=0 width="100%" align=center border=0>
<TR style="LINE-HEIGHT: 1.25" vAlign=top>
<TD style="WIDTH: 36pt">&nbsp;</TD>
<TD style="WIDTH: 18pt" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: CG Times, Times New Roman, serif">k)</FONT></TD>
<TD align=left><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: CG Times, Times New Roman, serif">The Company&#146;s Quarterly Report on Form 10-Q for the quarter ended September 30, 2004, filed with the Commission on November 3, 2004; </FONT></TD></TR></TABLE></DIV>
<DIV>
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<TR style="LINE-HEIGHT: 1.25" vAlign=top>
<TD style="WIDTH: 36pt">&nbsp;</TD>
<TD style="WIDTH: 18pt" align=left>&nbsp;</TD>
<TD align=left>&nbsp;</TD></TR></TABLE></DIV>
<DIV>
<TABLE id=hangingindent cellSpacing=0 cellPadding=0 width="100%" align=center border=0>
<TR style="LINE-HEIGHT: 1.25" vAlign=top>
<TD style="WIDTH: 36pt">&nbsp;</TD>
<TD style="WIDTH: 18pt" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: CG Times, Times New Roman, serif">l)</FONT></TD>
<TD align=left><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: CG Times, Times New Roman, serif">The Company&#146;s Current Report on Form 8-K filed with the Commission on November 3, 2004;</FONT></TD></TR></TABLE></DIV>
<DIV>
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<TR style="LINE-HEIGHT: 1.25" vAlign=top>
<TD style="WIDTH: 36pt">&nbsp;</TD>
<TD style="WIDTH: 18pt" align=left>&nbsp;</TD>
<TD align=left>&nbsp;</TD></TR></TABLE></DIV>
<DIV>
<TABLE id=hangingindent cellSpacing=0 cellPadding=0 width="100%" align=center border=0>
<TR style="LINE-HEIGHT: 1.25" vAlign=top>
<TD style="WIDTH: 36pt">&nbsp;</TD>
<TD style="WIDTH: 18pt" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: CG Times, Times New Roman, serif">m)</FONT></TD>
<TD align=left><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: CG Times, Times New Roman, serif">The Company&#146;s Current Report on Form 8-K filed with the Commission on November 4, 2004;</FONT></TD></TR></TABLE></DIV>
<DIV>
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<TD style="WIDTH: 36pt">&nbsp;</TD>
<TD style="WIDTH: 18pt" align=left>&nbsp;</TD>
<TD align=left>&nbsp;</TD></TR></TABLE></DIV>
<DIV>
<TABLE id=hangingindent cellSpacing=0 cellPadding=0 width="100%" align=center border=0>
<TR style="LINE-HEIGHT: 1.25" vAlign=top>
<TD style="WIDTH: 36pt">&nbsp;</TD>
<TD style="WIDTH: 18pt" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: CG Times, Times New Roman, serif">n)</FONT></TD>
<TD align=left><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: CG Times, Times New Roman, serif">The Company&#146;s Current Report on Form 8-K filed with the Commission on November 10, 2004;</FONT></TD></TR></TABLE></DIV>
<DIV>
<TABLE id=hangingindent cellSpacing=0 cellPadding=0 width="100%" align=center border=0>
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<TD style="WIDTH: 36pt">&nbsp;</TD>
<TD style="WIDTH: 18pt" align=left>&nbsp;</TD>
<TD align=left>&nbsp;</TD></TR></TABLE></DIV>
<DIV>
<TABLE id=hangingindent cellSpacing=0 cellPadding=0 width="100%" align=center border=0>
<TR style="LINE-HEIGHT: 1.25" vAlign=top>
<TD style="WIDTH: 36pt">&nbsp;</TD>
<TD style="WIDTH: 18pt" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: CG Times, Times New Roman, serif">o)</FONT></TD>
<TD align=left><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: CG Times, Times New Roman, serif">The Company&#146;s Current Report on Form 8-K filed with the Commission on December 6, 2004 and all other reports, if any, filed by the Company pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934 since the end of the fiscal year ended December 31, 2003; and</FONT></TD></TR></TABLE></DIV>
<DIV>
<TABLE id=hangingindent cellSpacing=0 cellPadding=0 width="100%" align=center border=0>
<TR style="LINE-HEIGHT: 1.25" vAlign=top>
<TD style="WIDTH: 36pt">&nbsp;</TD>
<TD style="WIDTH: 18pt" align=left>&nbsp;</TD>
<TD align=left>&nbsp;</TD></TR></TABLE></DIV>
<DIV>
<TABLE id=hangingindent style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" cellSpacing=0 cellPadding=0 width="100%" align=center border=0>
<TR style="LINE-HEIGHT: 1.25" vAlign=top>
<TD style="WIDTH: 36pt">&nbsp;</TD>
<TD style="WIDTH: 18pt" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: CG Times, Times New Roman, serif">p)</FONT></TD>
<TD align=left><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: CG Times, Times New Roman, serif">The description of the Company&#146;s common stock contained in the registration statement on Form 8-A filed with the Commission on May 5, 1995 under Section 12 of the Securities Exchange Act of 1934, including any amendments or reports filed for the purposes of updating the description of the common stock. </FONT></TD></TR></TABLE></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><BR></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: CG Times, Times New Roman, serif">All documents subsequently filed by the Company with the Commission pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act of 1934, prior to the filing of a post-effective amendment to this registration statement which indicates that all securities offered hereby have been sold or which deregisters all securities then remaining unsold under this registration statement, shall be deemed to be incorporated by reference in this registration statement and to be a part hereof from the date of filing of such documents. </FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: CG Times, Times New Roman, serif"></FONT>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: CG Times, Times New Roman, serif">Any statement contained herein, in an amendment hereto, or in a document incorporated or deemed to be incorporated herein by reference shall be deemed to be modified or superseded for purposes of this registration statement to the extent that a statement contained herein or in any other subsequently filed document which also is or deemed to be incorporated herein by reference modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this registration statement.</FONT></DIV>
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<TD align=left width="33%"><FONT size=1>&nbsp;</FONT></TD>
<TD align=middle width="34%"><FONT style="DISPLAY: inline; FONT-SIZE: 10pt" face="Times New Roman">2</FONT></TD>
<TD align=right width="33%"><FONT size=1>&nbsp;</FONT></TD></TR>
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</FONT></TD></TR></TABLE>
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<TD vAlign=bottom width="100%">&nbsp;</TD></TR></TABLE><BR></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif"><STRONG>Item 4. Description of Securities.</STRONG></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: CG Times, Times New Roman, serif"></FONT>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: CG Times, Times New Roman, serif">Not applicable; the class of securities to be offered is registered under Section 12 of the Securities Exchange Act of 1934.</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><BR></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif"><STRONG>Item 5. Interests of Named Experts and Counsel.</STRONG></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: CG Times, Times New Roman, serif"></FONT>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: CG Times, Times New Roman, serif">Not applicable.</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><BR></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif"><STRONG>Item 6. Indemnification of Directors and Officers.</STRONG></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: CG Times, Times New Roman, serif"></FONT>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: CG Times, Times New Roman, serif">Sections 351.355(1) and (2) of The General and Business Corporation Law of the State of Missouri provide that a corporation may indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding by reason of the fact that he is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, against expenses, judgments, fines and amounts paid in settlement actually and reasonably incurred by him in connection with such action, suit or proceeding if he acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the corporation and, with respect to any criminal action or proceeding, had no reasonable cause to believe his conduct was unlawful, except that, in the case of an action or suit by or in the right of the corporation, the corporation may not indemnify such persons against judgments and fines and no person shall be indemnified as to any claim, issue or matter as to which such person shall have been adjudged to be liable for negligence or misconduct in the performance of his duty to the corporation, unless and only to the extent that the court in which the action or suit was brought determines upon application that such person is fairly and reasonably entitled to indemnity for proper expenses. Section 351.355(3) provides that, to the extent that a director, officer, employee or agent of the corporation has been successful in the defense of any such action, suit or proceeding or any claim, issue or matter therein, he shall be indemnified against expenses, including attorneys&#146; fees, actually and reasonably incurred in connection with such action, suit or proceeding. Section 351.355(7) provides that a corporation may provide additional indemnification to any person indemnifiable under subsection (1) or (2), provided such additional indemnification is authorized by the corporation&#146;s articles of incorporation or an amendment thereto or by a shareholder-approved bylaw or agreement, and provided further that no person shall thereby be indemnified against conduct which was finally adjudged to have been knowingly fraudulent, deliberately dishonest or willful misconduct or which involved an accounting for profits pursuant to Section 16(b) of the Exchange Act of 1934.</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: CG Times, Times New Roman, serif"></FONT>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: CG Times, Times New Roman, serif">The bylaws of the Registrant provide that the Registrant shall indemnify, to the full extent permitted under Missouri law, any director, officer, employee or agent of the Registrant who has served as a director, officer, employee or agent of the Registrant or, at the Registrant&#146;s request, has served as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise. The Registrant has entered into an indemnification agreement with each officer and director of the Registrant (an &#147;Indemnitee&#148;) which provides for the indemnification described herein. The Registrant is also obligated to advance expenses an Indemnitee may incur in connection with such actions before resolution of the action, and the Indemnitee may sue to enforce his or her right to indemnification or advancement of expenses. The Registrant also maintains an insurance policy insuring its directors and officers against liability for certain acts and omissions while in their official capacities.</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">There is no litigation and neither the Registrant nor any of its directors know of any threatened litigation which might result in a claim for indemnification by any director or officer.</FONT></DIV></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: CG Times, Times New Roman, serif"></FONT>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: CG Times, Times New Roman, serif">Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers or persons controlling the Registrant pursuant to such provisions, the Registrant has been informed that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in such Act and is therefore unenforceable. </FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><BR></DIV>
<DIV><BR>
<TABLE id=PGBRK cellSpacing=0 cellPadding=0 width="100%" align=center border=0>
<TR vAlign=top>
<TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR>
<TD align=left width="33%"><FONT size=1>&nbsp;</FONT></TD>
<TD align=middle width="34%"><FONT style="DISPLAY: inline; FONT-SIZE: 10pt" face="Times New Roman">3</FONT></TD>
<TD align=right width="33%"><FONT size=1>&nbsp;</FONT></TD></TR>
<TR vAlign=top>
<TD width="100%" colSpan=3><FONT size=1>
<HR style="PAGE-BREAK-AFTER: always" color=#000000 noShade SIZE=2>
</FONT></TD></TR></TABLE>
<TABLE id=HDR cellSpacing=0 cellPadding=0 width="100%" align=center border=0>
<TR>
<TD vAlign=bottom width="100%">&nbsp;</TD></TR></TABLE><BR></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: CG Times, Times New Roman, serif"><STRONG>Item 7. Exemption From Registration Claimed.</STRONG></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><STRONG></STRONG>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT id=TAB1 style="MARGIN-LEFT: 18pt"></FONT><FONT id=TAB1 style="MARGIN-LEFT: 18pt"></FONT><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: CG Times, Times New Roman, serif">Not applicable.</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><BR></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif"><STRONG>Item 8. Exhibits.</STRONG></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify>
<DIV align=left>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>
<TR>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="5%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="8%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif"><U>Exhibit No.</U></FONT></DIV></TD>
<TD width="1%"><U></U></TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="86%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif"><U>Description</U></FONT></DIV></TD></TR>
<TR>
<TD vAlign=top width="5%">&nbsp;</TD>
<TD vAlign=top width="8%">&nbsp;</TD>
<TD width="1%">&nbsp;</TD>
<TD vAlign=top width="86%">&nbsp;</TD></TR>
<TR>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="5%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="8%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">4.1</FONT></DIV></TD>
<TD width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="86%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">Fourth Restated Articles of Incorporation of the Registrant filed with the Secretary of State of Missouri on August 26, 2003 (incorporated by reference to Exhibit 4.8 to the Registrant&#146;s Registration Statement on Form S-1 (File No. 333-108338) filed with the Commission on August 28, 2003)</FONT></DIV></TD></TR>
<TR>
<TD vAlign=top width="5%">&nbsp;</TD>
<TD vAlign=top width="8%">&nbsp;</TD>
<TD width="1%">&nbsp;</TD>
<TD vAlign=top width="86%">&nbsp;</TD></TR>
<TR>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="5%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="8%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">4.2</FONT></DIV></TD>
<TD width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="86%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">Amendment of Fourth Restated Articles of Incorporation of the Registrant filed with the Secretary of State of Missouri on March 19, 2004 (incorporated by reference to Exhibit 3.14 to the Registrant&#146;s Quarterly Report on Form 10-Q filed with the Commission on May 5, 2004)</FONT></DIV></TD></TR>
<TR>
<TD vAlign=top width="5%">&nbsp;</TD>
<TD vAlign=top width="8%">&nbsp;</TD>
<TD width="1%">&nbsp;</TD>
<TD vAlign=top width="86%">&nbsp;</TD></TR>
<TR>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="5%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="8%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">4.3</FONT></DIV></TD>
<TD width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="86%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">Amended and Restated Bylaws of the Registrant dated March 31, 1998 (incorporated by reference to Exhibit 4.7 to the Registrant&#146;s Post-Effective Amendment No. 1 to Registration Statement on Form S-1 (File No. 333-102165) filed with the Commission on April 14, 2003)</FONT></DIV></TD></TR>
<TR>
<TD vAlign=top width="5%">&nbsp;</TD>
<TD vAlign=top width="8%">&nbsp;</TD>
<TD width="1%">&nbsp;</TD>
<TD vAlign=top width="86%">&nbsp;</TD></TR>
<TR>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="5%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="8%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">4.4</FONT></DIV></TD>
<TD width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="86%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Form of&nbsp;Letter of Offer of Employment</FONT></DIV></TD></TR>
<TR>
<TD vAlign=top width="5%">&nbsp;</TD>
<TD vAlign=top width="8%">&nbsp;</TD>
<TD width="1%">&nbsp;</TD>
<TD vAlign=top width="86%">&nbsp;</TD></TR>
<TR>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="5%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="8%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">4.5</FONT></DIV></TD>
<TD width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="86%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">Consulting Services Agreement by and between the Registrant and Ovations International</FONT></DIV></TD></TR>
<TR>
<TD vAlign=top width="5%">&nbsp;</TD>
<TD vAlign=top width="8%">&nbsp;</TD>
<TD width="1%">&nbsp;</TD>
<TD vAlign=top width="86%">&nbsp;</TD></TR>
<TR>
<TD vAlign=top width="5%">&nbsp;</TD>
<TD vAlign=top width="8%">
<P align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4.6</FONT></P></TD>
<TD width="1%">&nbsp;</TD>
<TD vAlign=top width="86%"><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Non-Qualified Stock Option Award&nbsp;&nbsp;</FONT></TD></TR>
<TR>
<TD vAlign=top width="5%">&nbsp;</TD>
<TD vAlign=top width="8%"><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"></FONT></TD>
<TD width="1%">&nbsp;</TD>
<TD vAlign=top width="86%"></TD></TR>
<TR>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="5%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="8%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">4.7</FONT></DIV></TD>
<TD width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="86%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">Non-Qualified Stock Option Award</FONT></DIV></TD></TR>
<TR>
<TD vAlign=top width="5%">&nbsp;</TD>
<TD vAlign=top width="8%">&nbsp;</TD>
<TD width="1%">&nbsp;</TD>
<TD vAlign=top width="86%">&nbsp;</TD></TR>
<TR>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="5%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="8%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">5.1</FONT></DIV></TD>
<TD width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="86%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">Opinion of Holland &amp; Knight LLP</FONT></DIV></TD></TR>
<TR>
<TD vAlign=top width="5%">&nbsp;</TD>
<TD vAlign=top width="8%">&nbsp;</TD>
<TD width="1%">&nbsp;</TD>
<TD vAlign=top width="86%">&nbsp;</TD></TR>
<TR>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="5%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="8%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">23.1</FONT></DIV></TD>
<TD width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="86%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">Consent of Eisner LLP</FONT></DIV></TD></TR>
<TR>
<TD vAlign=top width="5%">&nbsp;</TD>
<TD vAlign=top width="8%">&nbsp;</TD>
<TD width="1%">&nbsp;</TD>
<TD vAlign=top width="86%">&nbsp;</TD></TR>
<TR>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="5%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="8%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">23.2</FONT></DIV></TD>
<TD width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="86%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">Consent of PricewaterhouseCoopers LLP</FONT></DIV></TD></TR>
<TR>
<TD vAlign=top width="5%">&nbsp;</TD>
<TD vAlign=top width="8%">&nbsp;</TD>
<TD width="1%">&nbsp;</TD>
<TD vAlign=top width="86%">&nbsp;</TD></TR>
<TR>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="5%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="8%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">23.3</FONT></DIV></TD>
<TD width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="86%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">Consent of Holland &amp; Knight LLP (included in Exhibit 5.1)</FONT></DIV></TD></TR>
<TR>
<TD vAlign=top width="5%">&nbsp;</TD>
<TD vAlign=top width="8%">&nbsp;</TD>
<TD width="1%">&nbsp;</TD>
<TD vAlign=top width="86%">&nbsp;</TD></TR>
<TR>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="5%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="8%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">24.1</FONT></DIV></TD>
<TD width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="86%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">Power of Attorney (included on signature page)</FONT></DIV></TD></TR></TABLE></DIV>
<DIV>&nbsp;</DIV></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif"><STRONG>Item 9. Undertakings.</STRONG></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif"></FONT>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif">(a) The undersigned Registrant hereby undertakes:</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT id=TAB1 style="MARGIN-LEFT: 18pt"></FONT><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif">(1) to file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement to include any material information with respect to the plan of distribution not previously disclosed in this registration statement or any material change to such information in this registration statement; </FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT id=TAB1 style="MARGIN-LEFT: 18pt"></FONT><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif">(2) that, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof; and </FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT id=TAB1 style="MARGIN-LEFT: 18pt"></FONT><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif">(3) to remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering. </FONT></DIV>
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<DIV><BR>
<TABLE id=PGBRK cellSpacing=0 cellPadding=0 width="100%" align=center border=0>
<TR vAlign=top>
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<TD align=left width="33%"><FONT size=1>&nbsp;</FONT></TD>
<TD align=middle width="34%"><FONT style="DISPLAY: inline; FONT-SIZE: 10pt" face="Times New Roman">4</FONT></TD>
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<TD vAlign=bottom width="100%">&nbsp;</TD></TR></TABLE><BR></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif">(b) The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each filing of the Registrant&#146;s annual report pursuant to Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934 (and where applicable, each filing of an employee benefit plan&#146;s annual report pursuant to Section 15(d) of the Securities Exchange Act of 1934) that is incorporated by reference in this registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof. </FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif"></FONT>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif">(c) Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.</FONT></DIV>
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<TD align=middle width="34%"><FONT style="DISPLAY: inline; FONT-SIZE: 10pt" face="Times New Roman">5</FONT></TD>
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<TD vAlign=bottom width="100%">&nbsp;</TD></TR></TABLE><BR></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif"><STRONG>SIGNATURES</STRONG></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><STRONG></STRONG>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing registration statement on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Delray Beach, State of Florida, on December 9, 2004.</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"></FONT></FONT>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><FONT id=TAB2 style="LETTER-SPACING: 9pt">&nbsp;&nbsp;&nbsp;</FONT>&nbsp;<FONT id=TAB2 style="LETTER-SPACING: 9pt">&nbsp;&nbsp;&nbsp;</FONT>&nbsp;<FONT id=TAB2 style="LETTER-SPACING: 9pt">&nbsp;&nbsp;&nbsp;</FONT>&nbsp;<FONT id=TAB2 style="LETTER-SPACING: 9pt">&nbsp;&nbsp;&nbsp;</FONT>&nbsp;<FONT id=TAB2 style="LETTER-SPACING: 9pt">&nbsp;&nbsp;&nbsp;</FONT>&nbsp;<FONT id=TAB2 style="LETTER-SPACING: 9pt">&nbsp;&nbsp;&nbsp;</FONT>&nbsp;<FONT id=TAB2 style="LETTER-SPACING: 9pt">&nbsp;&nbsp;&nbsp;</FONT>&nbsp;<FONT id=TAB2 style="LETTER-SPACING: 9pt">&nbsp;&nbsp;&nbsp;</FONT>&nbsp;<FONT id=TAB2 style="LETTER-SPACING: 9pt">&nbsp;&nbsp;&nbsp;</FONT>&nbsp;<FONT id=TAB2 style="LETTER-SPACING: 9pt">&nbsp;&nbsp;&nbsp;</FONT>&nbsp;<FONT id=TAB2 style="LETTER-SPACING: 9pt">&nbsp;&nbsp;&nbsp;</FONT>&nbsp;<FONT id=TAB2 style="LETTER-SPACING: 9pt">&nbsp;&nbsp;&nbsp;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; APPLIED DIGITAL SOLUTIONS, INC.</FONT></DIV></FONT>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 351pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">By:&nbsp;&nbsp;&nbsp;<U> <FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">/s/ </FONT><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Scott R. Silverman</FONT></U></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 369pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif"><FONT size=2>&nbsp; </FONT>Scott R. Silverman</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 369pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif">&nbsp;Chairman and Chief Executive Officer</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify>&nbsp;</DIV></FONT>
<DIV style="DISPLAY: block; MARGIN-LEFT: 234pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif"></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><STRONG>POWER OF ATTORNEY</STRONG></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><STRONG><FONT size=2></FONT></STRONG>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The undersigned constitutes and appoints Evan C. McKeown as his or her true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution, for him or her and in his or her name, place, and stead, in any and all capacities, to sign the Applied Digital Solutions, Inc. Registration Statement on Form S-8 with respect to the common stock to be issued under the plans described herein and any and all amendments thereto (including post-effective amendments) or certificates that may be required in connection with such registration statement, and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorney-in-fact and agent full power and authority to do and perform each and every act and thing requisite and necessary or advisable in connection therewith, as fully to all intents and purposes as he or she might or could in person, hereby ratifying and confirming all that said attorney-in-fact and agent, and each or either of them or their substitutes, may lawfully do or cause to be done by virtue hereof.</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT size=2></FONT>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities and on the dates indicated.</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT size=2></FONT>&nbsp;</DIV>
<DIV align=left>
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<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=bottom align=left width="30%" colSpan=2>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: CG Times, Times New Roman, serif"><STRONG><U>Signature</U></STRONG></FONT></DIV></TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" width="3%"><U></U></TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=bottom width="30%" colSpan=5>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: CG Times, Times New Roman, serif"><STRONG><U>Title</U></STRONG></FONT></DIV></TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=bottom align=left width="3%"><U></U></TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=bottom width="30%" colSpan=2>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: CG Times, Times New Roman, serif"><STRONG><U>Date</U></STRONG></FONT></DIV></TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=bottom align=left width="4%">&nbsp;</TD></TR>
<TR>
<TD vAlign=bottom align=left width="30%" colSpan=2>&nbsp;</TD>
<TD width="3%">&nbsp;</TD>
<TD vAlign=bottom width="30%" colSpan=5>&nbsp;</TD>
<TD vAlign=bottom align=left width="3%">&nbsp;</TD>
<TD vAlign=bottom width="30%" colSpan=2>&nbsp;</TD>
<TD vAlign=bottom align=left width="4%">&nbsp;</TD></TR>
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<TD vAlign=bottom align=left width="30%" colSpan=2><U><FONT size=2>/s/ Scott R. Silverman</FONT></U></TD>
<TD width="3%">&nbsp;</TD>
<TD vAlign=bottom width="30%" colSpan=5><FONT size=2>Chairman of the Board of Directors and Chief</FONT></TD>
<TD vAlign=bottom align=left width="3%">&nbsp;</TD>
<TD vAlign=bottom width="30%" colSpan=2><FONT size=2>December 9, 2004</FONT></TD>
<TD vAlign=bottom align=left width="4%">&nbsp;</TD></TR>
<TR>
<TD vAlign=bottom align=left width="30%" colSpan=2><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">(Scott R. Silverman)</FONT></TD>
<TD width="3%">&nbsp;</TD>
<TD vAlign=bottom width="30%" colSpan=5><FONT size=2>Executive Officer (Principal Executive Officer)</FONT></TD>
<TD vAlign=bottom align=left width="3%">&nbsp;</TD>
<TD vAlign=bottom width="30%" colSpan=2>&nbsp;</TD>
<TD vAlign=bottom align=left width="4%">&nbsp;</TD></TR>
<TR>
<TD vAlign=bottom align=left width="30%" colSpan=2>&nbsp;</TD>
<TD width="3%">&nbsp;</TD>
<TD vAlign=bottom width="30%" colSpan=5>&nbsp;</TD>
<TD vAlign=bottom align=left width="3%">&nbsp;</TD>
<TD vAlign=bottom width="30%" colSpan=2>&nbsp;</TD>
<TD vAlign=bottom align=left width="4%">&nbsp;</TD></TR>
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<TD style="BORDER-BOTTOM: #ffffff solid" vAlign=bottom align=left width="15%"><FONT size=2><U>/s/ Kevin H. McLaughlin</U></FONT></TD>
<TD style="BORDER-BOTTOM: #ffffff solid" vAlign=bottom align=left width="15%"></TD>
<TD style="BORDER-BOTTOM: #ffffff solid" width="3%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff solid" vAlign=bottom align=left width="30%" colSpan=5><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">President and Chief Operating Officer</FONT></TD>
<TD style="BORDER-BOTTOM: #ffffff solid" vAlign=bottom align=left width="3%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff solid" vAlign=bottom align=left width="30%" colSpan=2><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">December 9, 2004</FONT></TD>
<TD style="BORDER-BOTTOM: #ffffff solid" vAlign=bottom align=left width="4%">&nbsp;</TD></TR>
<TR>
<TD vAlign=bottom align=left width="30%" colSpan=2>&nbsp;<FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">(Kevin H. McLaughlin)</FONT></TD>
<TD width="3%">&nbsp;</TD>
<TD vAlign=bottom align=left width="30%" colSpan=5>&nbsp;</TD>
<TD vAlign=bottom align=left width="3%">&nbsp;</TD>
<TD vAlign=bottom align=left width="30%" colSpan=2>&nbsp;</TD>
<TD vAlign=bottom align=left width="4%">&nbsp;</TD></TR>
<TR>
<TD vAlign=bottom align=left width="30%" colSpan=2>&nbsp;</TD>
<TD width="3%">&nbsp;</TD>
<TD vAlign=bottom align=left width="30%" colSpan=5>&nbsp;</TD>
<TD vAlign=bottom align=left width="3%">&nbsp;</TD>
<TD vAlign=bottom align=left width="30%" colSpan=2>&nbsp;</TD>
<TD vAlign=bottom align=left width="4%">&nbsp;</TD></TR>
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<TD vAlign=bottom align=left width="15%"><FONT size=2><U>/s/ Evan C. McKeown</U></FONT><FONT id=TAB2 style="COLOR: black; LETTER-SPACING: 9pt">&nbsp;</FONT></TD>
<TD vAlign=bottom align=left width="15%"></TD>
<TD width="3%">&nbsp;</TD>
<TD vAlign=bottom align=left width="30%" colSpan=5><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">Senior Vice President and Chief Financial</FONT></TD>
<TD vAlign=bottom align=left width="3%">&nbsp;</TD>
<TD vAlign=bottom align=left width="30%" colSpan=2>&nbsp;<FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">December 9, 2004</FONT></TD>
<TD vAlign=bottom align=left width="4%">&nbsp;</TD></TR>
<TR>
<TD vAlign=bottom align=left width="30%" colSpan=2><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">(Evan C. McKeown)</FONT></TD>
<TD width="3%">&nbsp;</TD>
<TD vAlign=bottom align=left width="30%" colSpan=5>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">Officer (Principal Financial Officer)</FONT></DIV></TD>
<TD vAlign=bottom align=left width="3%">&nbsp;</TD>
<TD vAlign=bottom align=left width="30%" colSpan=2>&nbsp;</TD>
<TD vAlign=bottom align=left width="4%">&nbsp;</TD></TR>
<TR>
<TD vAlign=bottom align=left width="30%" colSpan=2>&nbsp;</TD>
<TD width="3%">&nbsp;</TD>
<TD vAlign=bottom align=left width="30%" colSpan=5>&nbsp;</TD>
<TD vAlign=bottom align=left width="3%">&nbsp;</TD>
<TD vAlign=bottom align=left width="30%" colSpan=2>&nbsp;</TD>
<TD vAlign=bottom align=left width="4%">&nbsp;</TD></TR>
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<TD vAlign=bottom align=left width="15%"><FONT size=2><U>/s/ Lorraine M. Breece</U></FONT></TD>
<TD vAlign=bottom align=left width="15%"></TD>
<TD width="3%">&nbsp;</TD>
<TD vAlign=bottom align=left width="30%" colSpan=5><FONT size=2>Vice President and Chief Accounting</FONT></TD>
<TD vAlign=bottom align=left width="3%">&nbsp;</TD>
<TD vAlign=bottom align=left width="30%" colSpan=2>&nbsp;<FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">December 9, 2004</FONT></TD>
<TD vAlign=bottom align=left width="4%">&nbsp;</TD></TR>
<TR>
<TD vAlign=bottom align=left width="30%" colSpan=2>&nbsp;<FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">(Lorraine M. Breece)</FONT></TD>
<TD width="3%">&nbsp;</TD>
<TD vAlign=bottom align=left width="30%" colSpan=5><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">Officer (Principal Accounting Officer)</FONT></TD>
<TD vAlign=bottom align=left width="3%">&nbsp;</TD>
<TD vAlign=bottom align=left width="30%" colSpan=2>&nbsp;</TD>
<TD vAlign=bottom align=left width="4%">&nbsp;</TD></TR>
<TR>
<TD vAlign=bottom align=left width="30%" colSpan=2>&nbsp;</TD>
<TD width="3%">&nbsp;</TD>
<TD vAlign=bottom align=left width="30%" colSpan=5>&nbsp;</TD>
<TD vAlign=bottom align=left width="3%">&nbsp;</TD>
<TD vAlign=bottom align=left width="30%" colSpan=2>&nbsp;</TD>
<TD vAlign=bottom align=left width="4%">&nbsp;</TD></TR>
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<TD vAlign=bottom align=left width="15%"><FONT size=2><U>/s/ J. Michael Norris</U></FONT></TD>
<TD vAlign=bottom align=left width="15%"></TD>
<TD width="3%">&nbsp;</TD>
<TD vAlign=bottom align=left width="30%" colSpan=5>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">Director</FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="3%">&nbsp;</TD>
<TD vAlign=bottom align=left width="30%" colSpan=2>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">December 9, 2004</FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="4%">&nbsp;</TD></TR>
<TR>
<TD vAlign=bottom align=left width="30%" colSpan=2>&nbsp;<FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">(J. Michael Norris)</FONT></TD>
<TD width="3%">&nbsp;</TD>
<TD vAlign=bottom align=left width="30%" colSpan=5>&nbsp;</TD>
<TD vAlign=bottom align=left width="3%">&nbsp;</TD>
<TD vAlign=bottom align=left width="30%" colSpan=2>&nbsp;</TD>
<TD vAlign=bottom align=left width="4%">&nbsp;</TD></TR>
<TR>
<TD vAlign=bottom align=left width="30%" colSpan=2>&nbsp;</TD>
<TD width="3%">&nbsp;</TD>
<TD vAlign=bottom align=left width="30%" colSpan=5>&nbsp;</TD>
<TD vAlign=bottom align=left width="3%">&nbsp;</TD>
<TD vAlign=bottom align=left width="30%" colSpan=2>&nbsp;</TD>
<TD vAlign=bottom align=left width="4%">&nbsp;</TD></TR>
<TR>
<TD style="BORDER-BOTTOM: #ffffff solid" vAlign=bottom align=left width="15%"><FONT size=2><U>/s/ Daniel E. Penni</U></FONT></TD>
<TD style="BORDER-BOTTOM: #ffffff solid" vAlign=bottom align=left width="15%"></TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" width="3%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff solid" vAlign=bottom align=left width="30%" colSpan=5>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">Director</FONT>&nbsp;</DIV></TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=bottom align=left width="3%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff solid" vAlign=bottom align=left width="30%" colSpan=2>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">December 9, 2004</FONT>&nbsp;</DIV></TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=bottom align=left width="4%">&nbsp;</TD></TR>
<TR>
<TD vAlign=bottom align=left width="30%" colSpan=2>&nbsp;<FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">(Daniel E. Penni)</FONT></TD>
<TD width="3%">&nbsp;</TD>
<TD vAlign=bottom align=left width="30%" colSpan=5>&nbsp;</TD>
<TD vAlign=bottom align=left width="3%">&nbsp;</TD>
<TD vAlign=bottom align=left width="30%" colSpan=2>&nbsp;</TD>
<TD vAlign=bottom align=left width="4%">&nbsp;</TD></TR>
<TR>
<TD vAlign=bottom align=left width="30%" colSpan=2>&nbsp;</TD>
<TD width="3%">&nbsp;</TD>
<TD vAlign=bottom align=left width="30%" colSpan=5>&nbsp;</TD>
<TD vAlign=bottom align=left width="3%">&nbsp;</TD>
<TD vAlign=bottom align=left width="30%" colSpan=2>&nbsp;</TD>
<TD vAlign=bottom align=left width="4%">&nbsp;</TD></TR>
<TR>
<TD vAlign=bottom align=left width="15%"><FONT size=2><U>/s/ Dennis G. Rawan</U></FONT></TD>
<TD vAlign=bottom align=left width="15%"></TD>
<TD width="3%">&nbsp;</TD>
<TD vAlign=bottom align=left width="30%" colSpan=5><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">Director</FONT></TD>
<TD vAlign=bottom align=left width="3%">&nbsp;</TD>
<TD vAlign=bottom align=left width="30%" colSpan=2><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">December 9, 2004</FONT></TD>
<TD vAlign=bottom align=left width="4%">&nbsp;</TD></TR>
<TR>
<TD vAlign=bottom align=left width="30%" colSpan=2>&nbsp;<FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">(Dennis G. Rawan)</FONT></TD>
<TD width="3%">&nbsp;</TD>
<TD vAlign=bottom align=left width="30%" colSpan=5>&nbsp;</TD>
<TD vAlign=bottom align=left width="3%">&nbsp;</TD>
<TD vAlign=bottom align=left width="30%" colSpan=2>&nbsp;</TD>
<TD vAlign=bottom align=left width="4%">&nbsp;</TD></TR>
<TR>
<TD vAlign=bottom align=left width="30%" colSpan=2>&nbsp;</TD>
<TD width="3%">&nbsp;</TD>
<TD vAlign=bottom align=left width="30%" colSpan=5>&nbsp;</TD>
<TD vAlign=bottom align=left width="3%">&nbsp;</TD>
<TD vAlign=bottom align=left width="30%" colSpan=2>&nbsp;</TD>
<TD vAlign=bottom align=left width="4%">&nbsp;</TD></TR>
<TR>
<TD vAlign=bottom align=left width="15%"><FONT size=2><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD>
<TD vAlign=bottom align=left width="15%"></TD>
<TD width="3%">&nbsp;</TD>
<TD vAlign=bottom align=left width="30%" colSpan=5><FONT size=2>Director</FONT></TD>
<TD vAlign=bottom align=left width="3%">&nbsp;</TD>
<TD vAlign=bottom align=left width="30%" colSpan=2><FONT size=2>December 9, 2004</FONT></TD>
<TD vAlign=bottom align=left width="4%">&nbsp;</TD></TR>
<TR>
<TD vAlign=bottom align=left width="30%" colSpan=2>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">(Constance K. Weaver)</FONT>&nbsp;&nbsp;</DIV></TD>
<TD width="3%">&nbsp;</TD>
<TD vAlign=bottom align=left width="30%" colSpan=5>&nbsp;</TD>
<TD vAlign=bottom align=left width="3%">&nbsp;</TD>
<TD vAlign=bottom align=left width="30%" colSpan=2>&nbsp;</TD>
<TD vAlign=bottom align=left width="4%">&nbsp;</TD></TR>
<TR>
<TD vAlign=bottom align=left width="30%" colSpan=2>&nbsp;</TD>
<TD width="3%">&nbsp;</TD>
<TD vAlign=bottom align=left width="30%" colSpan=5>&nbsp;</TD>
<TD vAlign=bottom align=left width="3%">&nbsp;</TD>
<TD vAlign=bottom align=left width="30%" colSpan=2>&nbsp;</TD>
<TD vAlign=bottom align=left width="4%">&nbsp;</TD></TR>
<TR>
<TD vAlign=bottom align=left width="15%"><FONT size=2><U>/s/ Michael S. Zarriello</U></FONT></TD>
<TD vAlign=bottom align=left width="15%"></TD>
<TD width="3%">&nbsp;</TD>
<TD vAlign=bottom align=left width="30%" colSpan=5>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">Director</FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="3%">&nbsp;</TD>
<TD vAlign=bottom align=left width="30%" colSpan=2>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0px"><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">December 9, 2004</FONT>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="4%">&nbsp;</TD></TR>
<TR>
<TD vAlign=bottom align=left width="30%" colSpan=2>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">(Michael S. Zarriello)</FONT></DIV></TD>
<TD width="3%">&nbsp;</TD>
<TD vAlign=bottom align=left width="30%" colSpan=5>&nbsp;</TD>
<TD vAlign=bottom align=left width="3%">&nbsp;</TD>
<TD vAlign=bottom align=left width="30%" colSpan=2>&nbsp;</TD>
<TD vAlign=bottom align=left width="4%">&nbsp;</TD></TR></TABLE></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><BR></DIV>
<DIV><BR>
<TABLE id=PGBRK cellSpacing=0 cellPadding=0 width="100%" align=center border=0>
<TR vAlign=top>
<TD width="100%" colSpan=3>&nbsp;</TD></TR>
<TR>
<TD align=left width="33%"><FONT size=1>&nbsp;</FONT></TD>
<TD align=middle width="34%"><FONT style="DISPLAY: inline; FONT-SIZE: 10pt" face="Times New Roman">6</FONT></TD>
<TD align=right width="33%"><FONT size=1>&nbsp;</FONT></TD></TR>
<TR vAlign=top>
<TD width="100%" colSpan=3><FONT size=1>
<HR style="PAGE-BREAK-AFTER: always" color=#000000 noShade SIZE=2>
</FONT></TD></TR></TABLE>
<TABLE id=HDR cellSpacing=0 cellPadding=0 width="100%" align=center border=0>
<TR>
<TD vAlign=bottom width="100%">&nbsp;</TD></TR></TABLE><BR></DIV>
<DIV></DIV>
<DIV><BR><BR></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif"><STRONG>EXHIBIT INDEX</STRONG></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify>
<DIV align=left>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>
<TR>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="5%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="8%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif"><U>Exhibit No.</U></FONT></DIV></TD>
<TD width="1%"><U></U></TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="86%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 11pt; FONT-FAMILY: Times New Roman, serif"><U>Description</U></FONT></DIV></TD></TR>
<TR>
<TD vAlign=top width="5%">&nbsp;</TD>
<TD vAlign=top width="8%">&nbsp;</TD>
<TD width="1%">&nbsp;</TD>
<TD vAlign=top width="86%">&nbsp;</TD></TR>
<TR>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="5%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="8%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">4.1</FONT></DIV></TD>
<TD width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="86%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">Fourth Restated Articles of Incorporation of the Registrant filed with the Secretary of State of Missouri on August 26, 2003 (incorporated by reference to Exhibit 4.8 to the Registrant&#146;s Registration Statement on Form S-1 (File No. 333-108338) filed with the Commission on August 28, 2003)</FONT></DIV></TD></TR>
<TR>
<TD vAlign=top width="5%">&nbsp;</TD>
<TD vAlign=top width="8%">&nbsp;</TD>
<TD width="1%">&nbsp;</TD>
<TD vAlign=top width="86%">&nbsp;</TD></TR>
<TR>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="5%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="8%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">4.2</FONT></DIV></TD>
<TD width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="86%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">Amendment of Fourth Restated Articles of Incorporation of the Registrant filed with the Secretary of State of Missouri on March 19, 2004 (incorporated by reference to Exhibit 3.14 to the Registrant&#146;s Quarterly Report on Form 10-Q filed with the Commission on May 5, 2004)</FONT></DIV></TD></TR>
<TR>
<TD vAlign=top width="5%">&nbsp;</TD>
<TD vAlign=top width="8%">&nbsp;</TD>
<TD width="1%">&nbsp;</TD>
<TD vAlign=top width="86%">&nbsp;</TD></TR>
<TR>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="5%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="8%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">4.3</FONT></DIV></TD>
<TD width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="86%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">Amended and Restated Bylaws of the Registrant dated March 31, 1998 (incorporated by reference to Exhibit 4.7 to the Registrant&#146;s Post-Effective Amendment No. 1 to Registration Statement on Form S-1 (File No. 333-102165) filed with the Commission on April 14, 2003)</FONT></DIV></TD></TR>
<TR>
<TD vAlign=top width="5%">&nbsp;</TD>
<TD vAlign=top width="8%">&nbsp;</TD>
<TD width="1%">&nbsp;</TD>
<TD vAlign=top width="86%">&nbsp;</TD></TR>
<TR>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="5%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="8%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">4.4</FONT></DIV></TD>
<TD width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="86%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">Form of&nbsp;Letter of Offer of Employment</FONT></DIV></TD></TR>
<TR>
<TD vAlign=top width="5%">&nbsp;</TD>
<TD vAlign=top width="8%">&nbsp;</TD>
<TD width="1%">&nbsp;</TD>
<TD vAlign=top width="86%">&nbsp;</TD></TR>
<TR>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="5%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="8%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">4.5</FONT></DIV></TD>
<TD width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="86%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">Consulting Services Agreement by and between the Registrant and Ovations International</FONT></DIV></FONT></DIV></TD></TR>
<TR>
<TD vAlign=top width="5%">&nbsp;</TD>
<TD vAlign=top width="8%">&nbsp;</TD>
<TD width="1%">&nbsp;</TD>
<TD vAlign=top width="86%">&nbsp;</TD></TR>
<TR>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="5%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="8%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">4.6</FONT></DIV></TD>
<TD width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="86%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">Non-Qualified Stock Option Award</FONT></DIV></TD></TR>
<TR>
<TD vAlign=top width="5%">&nbsp;</TD>
<TD vAlign=top width="8%">&nbsp;</TD>
<TD width="1%">&nbsp;</TD>
<TD vAlign=top width="86%">&nbsp;</TD></TR>
<TR>
<TD vAlign=top width="5%">&nbsp;</TD>
<TD vAlign=top width="8%">
<P align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&nbsp;4.7</FONT>&nbsp;</P></TD>
<TD width="1%">&nbsp;</TD>
<TD vAlign=top width="86%"><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Non-Qualified Stock Option Award&nbsp;</FONT></TD></TR>
<TR>
<TD vAlign=top width="5%">&nbsp;</TD>
<TD vAlign=top width="8%">&nbsp;</TD>
<TD width="1%">&nbsp;</TD>
<TD vAlign=top width="86%">&nbsp;</TD></TR>
<TR>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="5%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="8%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">5.1</FONT></DIV></TD>
<TD width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="86%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">Opinion of Holland &amp; Knight LLP</FONT></DIV></TD></TR>
<TR>
<TD vAlign=top width="5%">&nbsp;</TD>
<TD vAlign=top width="8%">&nbsp;</TD>
<TD width="1%">&nbsp;</TD>
<TD vAlign=top width="86%">&nbsp;</TD></TR>
<TR>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="5%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="8%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">23.1</FONT></DIV></TD>
<TD width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="86%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">Consent of Eisner LLP</FONT></DIV></TD></TR>
<TR>
<TD vAlign=top width="5%">&nbsp;</TD>
<TD vAlign=top width="8%">&nbsp;</TD>
<TD width="1%">&nbsp;</TD>
<TD vAlign=top width="86%">&nbsp;</TD></TR>
<TR>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="5%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="8%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">23.2</FONT></DIV></TD>
<TD width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="86%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">Consent of PricewaterhouseCoopers LLP</FONT></DIV></TD></TR>
<TR>
<TD vAlign=top width="5%">&nbsp;</TD>
<TD vAlign=top width="8%">&nbsp;</TD>
<TD width="1%">&nbsp;</TD>
<TD vAlign=top width="86%">&nbsp;</TD></TR>
<TR>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="5%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="8%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">23.3</FONT></DIV></TD>
<TD width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="86%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">Consent of Holland &amp; Knight LLP (included in Exhibit 5.1)</FONT></DIV></TD></TR>
<TR>
<TD vAlign=top width="5%">&nbsp;</TD>
<TD vAlign=top width="8%">&nbsp;</TD>
<TD width="1%">&nbsp;</TD>
<TD vAlign=top width="86%">&nbsp;</TD></TR>
<TR>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="5%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="8%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">24.1</FONT></DIV></TD>
<TD width="1%">&nbsp;</TD>
<TD style="BORDER-BOTTOM: #ffffff thin solid" vAlign=top width="86%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: CG Times, Times New Roman, serif">Power of Attorney (included on signature page)</FONT></DIV></TD></TR></TABLE></DIV>
<DIV>&nbsp;</DIV></DIV></DIV>
<DIV>&nbsp;</DIV>
<DIV><BR></DIV>
<DIV><BR>
<TABLE id=PGBRK cellSpacing=0 cellPadding=0 width="100%" align=center border=0>
<TR vAlign=top>
<TD width="100%" colSpan=3>&nbsp;</TD></TR>
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<TD align=left width="33%"><FONT size=1>&nbsp;</FONT></TD>
<TD align=middle width="34%"><FONT size=1>&nbsp;<FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">7</FONT></FONT></TD>
<TD align=right width="33%"><FONT size=1>&nbsp;</FONT></TD></TR>
<TR vAlign=top>
<TD width="100%" colSpan=3><FONT size=1>
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Applied Digital Solutions, Inc. Form S-8
As Filed with the Securities and Exchange Commission on December  10, 2004
Registration No. 333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
APPLIED DIGITAL SOLUTIONS, INC.
(Exact name of Registrant as specified in its charter)
MISSOURI
43-1641533
(State or other jurisdiction of
(I.R.S. Employer
incorporation or organization)
Identification No.)
1690 South Congress Avenue, Suite 200
Delray Beach, Florida 33445
(561) 805-8000
(Address, including zip code, and telephone number, including area code,
of Registrant's principal executive offices)
Offer of Employment Letters, Non-Qualified Stock Option Awards and
Consulting Agreement
(Full title of the plans)
Scott R. Silverman
Chief Executive Officer
1690 South Congress Avenue, Suite 200
Delray Beach, Florida 33445
Phone: (561) 805-8000
Fax: (561) 805-8001
(Name, address, including zip code, and telephone number,
including area code, of agent for service)
Copies of all correspondence to:
Harvey Goldman, Esq.
Holland & Knight LLP
701 Brickell Avenue, Suite 3000
Miami, Florida 33131-5441
Phone: (305) 789-7506
Fax: (305) 349-2238
CALCULATION OF REGISTRATION FEE
Title of Each Class
of Securities to be
Registered
Amount
to be
Registered
(1)(3)(4)
Proposed Maximum
Offering Price
Per Share
(2)
Proposed Maximum
Aggregate
Offering Price
Amount of
Registration
Fee
(2)
Common Stock, $0.01 par value per share
145,000 shares
$5.60
$812,000
$102.88
(1)
This registration statement registers an aggregate of 145,000 shares of Applied Digital Solutions, Inc.
'
s (the "Company") common stock, authorized for issuance under the terms of stock option grants, which were issued as an inducement to employment, or as an inducement to provide services to the Company as a director or independent consultant.
(2)
Pursuant to Rules 457(c) and 457(h) of the Securities Act of 1933, the proposed offering price and registration fee have been calculated on the basis of the average of the high and low trading prices for the common stock on December 3, 2004, as reported on the Nasdaq SmallCap Market.
(3)
Pursuant to Rule 416 under the Securities Act of 1933, as amended, to the extent additional shares of Company common stock may be issued or issuable to prevent dilution resulting from stock splits, stock dividends or similar transactions,
this registration statement is hereby deemed to cover all of such additional shares of common stock.
(4)
The letter of offer of employment between the Company and Angela Fulcher dated March 3, 2004 (the "Fulcher Offer Letter") provides for an option grant to acquire 10,000 shares of the Company's common stock. The option grant was provided to Ms. Fulcher as an inducement to her employment with the Company. Ms. Fulcher serves as the Company's Vice President, Marketing and Communications. The Fulcher Offer Letter qualifies as an Employee Benefit Plan as defined under Rule 405 of Regulation C.
(4)
The letter of offer of employment between the Company and Jay McKeage dated June 16, 2004 (the "McKeage Offer Letter") provides for an option grant to acquire 100,000 shares of the Company's common stock. The option grant was provided to Mr. McKeage as an inducement to his employment with the Company. Mr. McKeage serves as the Company's Vice President, Business Development. The McKeage Offer Letter qualifies as an Employee Benefit Plan as defined under Rule 405 of Regulation C.
(4)
The consulting service agreement between the Company and Ovations International dated December 24, 2002 (the "Ovations Consulting Agreement"), provides for an option grant to acquire 10,000 shares of the Company's common stock in exchange for performing media relations and public relations services for the Company. The term of the Ovations Consulting Agreement was eight months unless terminated earlier by either party. The Ovations Consulting Agreement qualifies as an Employee Benefit Plan as defined under Rule 405 of Regulation C.
(4)
On January 12, 2004, options to purchase 25,000 shares of the Company's common stock were granted to Mr. J. Michael Norris under the terms of two Non-Qualified Stock Option Awards (the "Stock Option Awards" in consideration for Mr. Norris
'
becoming a member of the Company's Board of Directors). The Stock Option Awards qualify as Employee Benefit Plans as defined under Rule 405 of Regulation C.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
[Items 1 and 2 are inapplicable and have been omitted.]
Item 3. Incorporation of Documents by Reference.
The following documents filed by us with the Securities and Exchange Commission (the
"
Commission
"
) are incorporated herein by reference in this registration statement:
a)
The Company
'
s Annual Report on Form 10-K for the year ended December 31, 2003, filed with the Commission on March 15, 2004, and as amended on September 24, 2004;
b)
The Company's Current Report on Form 8-K filed with the Commission on March 16, 2004;
c)
The Company's Current Report on Form 8-K filed with the Commission on April 5, 2004;
d)
The Company's Current Report on Form 8-K filed with the Commission on April 15, 2004;
e)
The Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2004, filed with the Commission on May 5, 2004, and as amended on May 24, 2004;
f)
The Company's Current Report on Form 8-K filed with the Commission on May 7, 2004;
g)
The Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2004, filed with the Commission on August 3, 2004;
h)
The Company's Current Report on Form 8-K filed with the Commission on August 5, 2004;
i)
The Company's Current Report on Form 8-K filed with the Commission on October 13, 2004;
j)
The Company's Current Report on Form 8-K filed with the Commission on October 22, 2004;
k)
The Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2004, filed with the Commission on November 3, 2004;
l)
The Company's Current Report on Form 8-K filed with the Commission on November 3, 2004;
m)
The Company's Current Report on Form 8-K filed with the Commission on November 4, 2004;
n)
The Company's Current Report on Form 8-K filed with the Commission on November 10, 2004;
o)
The Company's Current Report on Form 8-K filed with the Commission on December 6, 2004 and all other reports, if any, filed by the Company pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934 since the end of the fiscal year ended December 31, 2003; and
p)
The description of the Company's common stock contained in the registration statement on Form 8-A filed with the Commission on May 5, 1995 under Section 12 of the Securities Exchange Act of 1934, including any amendments or reports filed for the purposes of updating the description of the common stock.
All documents subsequently filed by the Company with the Commission pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act of 1934, prior to the filing of a post-effective amendment to this registration statement which indicates that all securities offered hereby have been sold or which deregisters all securities then remaining unsold under this registration statement, shall be deemed to be incorporated by reference in this registration statement and to be a part hereof from the date of filing of such documents.
Any statement contained herein, in an amendment hereto, or in a document incorporated or deemed to be incorporated herein by reference shall be deemed to be modified or superseded for purposes of this registration statement to the extent that a statement contained herein or in any other subsequently filed document which also is or deemed to be incorporated herein by reference modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this registration statement.
2
Item 4. Description of Securities.
Not applicable; the class of securities to be offered is registered under Section 12 of the Securities Exchange Act of 1934.
Item 5. Interests of Named Experts and Counsel.
Not applicable.
Item 6. Indemnification of Directors and Officers.
Sections 351.355(1) and (2) of The General and Business Corporation Law of the State of Missouri provide that a corporation may indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding by reason of the fact that he is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, against expenses, judgments, fines and amounts paid in settlement actually and reasonably incurred by him in connection with such action, suit or proceeding if he acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the corporation and, with respect to any criminal action or proceeding, had no reasonable cause to believe his conduct was unlawful, except that, in the case of an action or suit by or in the right of the corporation, the corporation may not indemnify such persons against judgments and fines and no person shall be indemnified as to any claim, issue or matter as to which such person shall have been adjudged to be liable for negligence or misconduct in the performance of his duty to the corporation, unless and only to the extent that the court in which the action or suit was brought determines upon application that such person is fairly and reasonably entitled to indemnity for proper expenses. Section 351.355(3) provides that, to the extent that a director, officer, employee or agent of the corporation has been successful in the defense of any such action, suit or proceeding or any claim, issue or matter therein, he shall be indemnified against expenses, including attorneys' fees, actually and reasonably incurred in connection with such action, suit or proceeding. Section 351.355(7) provides that a corporation may provide additional indemnification to any person indemnifiable under subsection (1) or (2), provided such additional indemnification is authorized by the corporation's articles of incorporation or an amendment thereto or by a shareholder-approved bylaw or agreement, and provided further that no person shall thereby be indemnified against conduct which was finally adjudged to have been knowingly fraudulent, deliberately dishonest or willful misconduct or which involved an accounting for profits pursuant to Section 16(b) of the Exchange Act of 1934.
The bylaws of the Registrant provide that the Registrant shall indemnify, to the full extent permitted under Missouri law, any director, officer, employee or agent of the Registrant who has served as a director, officer, employee or agent of the Registrant or, at the Registrant's request, has served as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise. The Registrant has entered into an indemnification agreement with each officer and director of the Registrant (an "Indemnitee") which provides for the indemnification described herein. The Registrant is also obligated to advance expenses an Indemnitee may incur in connection with such actions before resolution of the action, and the Indemnitee may sue to enforce his or her right to indemnification or advancement of expenses. The Registrant also maintains an insurance policy insuring its directors and officers against liability for certain acts and omissions while in their official capacities.
There is no litigation and neither the Registrant nor any of its directors know of any threatened litigation which might result in a claim for indemnification by any director or officer.
Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers or persons controlling the Registrant pursuant to such provisions, the Registrant has been informed that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in such Act and is therefore unenforceable.
3
Item 7. Exemption From Registration Claimed.
Not applicable.
Item 8. Exhibits.
Exhibit No.
Description
4.1
Fourth Restated Articles of Incorporation of the Registrant filed with the Secretary of State of Missouri on August 26, 2003 (incorporated by reference to Exhibit 4.8 to the Registrant's Registration Statement on Form S-1 (File No. 333-108338) filed with the Commission on August 28, 2003)
4.2
Amendment of Fourth Restated Articles of Incorporation of the Registrant filed with the Secretary of State of Missouri on March 19, 2004 (incorporated by reference to Exhibit 3.14 to the Registrant's Quarterly Report on Form 10-Q filed with the Commission on May 5, 2004)
4.3
Amended and Restated Bylaws of the Registrant dated March 31, 1998 (incorporated by reference to Exhibit 4.7 to the Registrant's Post-Effective Amendment No. 1 to Registration Statement on Form S-1 (File No. 333-102165) filed with the Commission on April 14, 2003)
4.4
Form of Letter of Offer of Employment
4.5
Consulting Services Agreement by and between the Registrant and Ovations International
4.6
Non-Qualified Stock Option Award
4.7
Non-Qualified Stock Option Award
5.1
Opinion of Holland & Knight LLP
23.1
Consent of Eisner LLP
23.2
Consent of PricewaterhouseCoopers LLP
23.3
Consent of Holland & Knight LLP (included in Exhibit 5.1)
24.1
Power of Attorney (included on signature page)
Item 9. Undertakings.
(a) The undersigned Registrant hereby undertakes:
(1) to file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement to include any material information with respect to the plan of distribution not previously disclosed in this registration statement or any material change to such information in this registration statement;
(2) that, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof; and
(3) to remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.
4
(b) The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each filing of the Registrant's annual report pursuant to Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934 (and where applicable, each filing of an employee benefit plan's annual report pursuant to Section 15(d) of the Securities Exchange Act of 1934) that is incorporated by reference in this registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
(c) Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.
5
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing registration statement on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Delray Beach, State of Florida, on December 9, 2004.
APPLIED DIGITAL SOLUTIONS, INC.
By:
/s/
Scott R. Silverman
Scott R. Silverman
Chairman and Chief Executive Officer
POWER OF ATTORNEY
The undersigned constitutes and appoints Evan C. McKeown as his or her true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution, for him or her and in his or her name, place, and stead, in any and all capacities, to sign the Applied Digital Solutions, Inc. Registration Statement on Form S-8 with respect to the common stock to be issued under the plans described herein and any and all amendments thereto (including post-effective amendments) or certificates that may be required in connection with such registration statement, and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorney-in-fact and agent full power and authority to do and perform each and every act and thing requisite and necessary or advisable in connection therewith, as fully to all intents and purposes as he or she might or could in person, hereby ratifying and confirming all that said attorney-in-fact and agent, and each or either of them or their substitutes, may lawfully do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities and on the dates indicated.
Signature
Title
Date
/s/ Scott R. Silverman
Chairman of the Board of Directors and Chief
December 9, 2004
(Scott R. Silverman)
Executive Officer (Principal Executive Officer)
/s/ Kevin H. McLaughlin
President and Chief Operating Officer
December 9, 2004
(Kevin H. McLaughlin)
/s/ Evan C. McKeown
Senior Vice President and Chief Financial
December 9, 2004
(Evan C. McKeown)
Officer (Principal Financial Officer)
/s/ Lorraine M. Breece
Vice President and Chief Accounting
December 9, 2004
(Lorraine M. Breece)
Officer (Principal Accounting Officer)
/s/ J. Michael Norris
Director
December 9, 2004
(J. Michael Norris)
/s/ Daniel E. Penni
Director
December 9, 2004
(Daniel E. Penni)
/s/ Dennis G. Rawan
Director
December 9, 2004
(Dennis G. Rawan)
Director
December 9, 2004
(Constance K. Weaver)
/s/ Michael S. Zarriello
Director
December 9, 2004
(Michael S. Zarriello)
6
EXHIBIT INDEX
Exhibit No.
Description
4.1
Fourth Restated Articles of Incorporation of the Registrant filed with the Secretary of State of Missouri on August 26, 2003 (incorporated by reference to Exhibit 4.8 to the Registrant's Registration Statement on Form S-1 (File No. 333-108338) filed with the Commission on August 28, 2003)
4.2
Amendment of Fourth Restated Articles of Incorporation of the Registrant filed with the Secretary of State of Missouri on March 19, 2004 (incorporated by reference to Exhibit 3.14 to the Registrant's Quarterly Report on Form 10-Q filed with the Commission on May 5, 2004)
4.3
Amended and Restated Bylaws of the Registrant dated March 31, 1998 (incorporated by reference to Exhibit 4.7 to the Registrant's Post-Effective Amendment No. 1 to Registration Statement on Form S-1 (File No. 333-102165) filed with the Commission on April 14, 2003)
4.4
Form of Letter of Offer of Employment
4.5
Consulting Services Agreement by and between the Registrant and Ovations International
4.6
Non-Qualified Stock Option Award
4.7
Non-Qualified Stock Option Award
5.1
Opinion of Holland & Knight LLP
23.1
Consent of Eisner LLP
23.2
Consent of PricewaterhouseCoopers LLP
23.3
Consent of Holland & Knight LLP (included in Exhibit 5.1)
24.1
Power of Attorney (included on signature page)
7