-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Vq5HOvCfvdycUczYzYEK87tvUa5dbabyGbTtPmIKX07p8Xgl9+LQ0a1roojy5BDb nXQjKoXHuiuAumXeCixzMg== 0001398344-09-001005.txt : 20091030 0001398344-09-001005.hdr.sgml : 20091030 20091030121412 ACCESSION NUMBER: 0001398344-09-001005 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20090831 FILED AS OF DATE: 20091030 DATE AS OF CHANGE: 20091030 EFFECTIVENESS DATE: 20091030 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CAPITAL MANAGEMENT INVESTMENT TRUST CENTRAL INDEX KEY: 0000931491 IRS NUMBER: 566459396 STATE OF INCORPORATION: MA FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-08822 FILM NUMBER: 091146994 BUSINESS ADDRESS: STREET 1: 630 FITZWATERTOWN ROAD STREET 2: BUILDING "A", 2ND FLOOR CITY: WILLOW GROVE STATE: PA ZIP: 19090-1904 BUSINESS PHONE: 888-626-3863 MAIL ADDRESS: STREET 1: 630 FITZWATERTOWN ROAD STREET 2: BUILDING "A", 2ND FLOOR CITY: WILLOW GROVE STATE: PA ZIP: 19090-1904 0000931491 S000010455 Capital Management Small-Cap Fund C000028880 Institutional Shares CMSSX C000028881 Investor Shares CMSVX 0000931491 S000010456 Capital Management Mid-Cap Fund C000028882 Institutional Shares CMEIX C000028883 Investor Shares CMCIX N-Q 1 fp0001063_nq.htm fp0001063_nq.htm
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549


FORM N-Q


QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANIES


Investment Company Act file number: 811-08822


Capital Management Investment Trust
(Exact name of registrant as specified in charter)


  630 Fitzwatertown Road , Building A 2nd Floor
 Willow Grove, PA  19090-1904
(Address of principal executive offices)
(Zip code)


Matrix Capital Group, Inc.
630 Fitzwatertown Road
Building A, 2nd Floor
Willow Grove, PA    19090-1904
(Name and address of agent for service)


Registrant's telephone number, including area code: 888.626.3863

Date of fiscal year end:   11/30/2009

Date of reporting period: 08/31/2009
 
 
 
 
 
Item 1.
Schedule of Investments (Unaudited)

The Trust’s schedule of investments as of the close of the reporting period prepared pursuant to Rule 12-12 of Regulation S-X is as follows:
 
Capital Management Mid-Cap Fund
            
                 
SCHEDULE OF INVESTMENTS
            
                 
As of August 31, 2009 (Unaudited)
            
                 
       
Shares
    
Market Value
  
                 
Common Stock - 85.13%
            
                 
Aerospace & Defense - 4.11%
            
   
Rockwell Collins, Inc.
     10,000     $ 460,400  
                     
Banks - 0.37%
                
   
CapitalSource, Inc.
     10,000       41,400  
                     
Beverages - 2.64%
                
  *  
Constellation Brands, Inc.
     20,000       295,800  
                       
Cosmetics - 2.35%
                
     
Alberto-Culver Co.
     10,000       263,900  
                       
Electric - 2.98%
                
     
Edison International
     10,000       334,100  
                       
Electronics - 4.39%
                
     
Amphenol Corp.
     9,000       314,640  
  *  
Flextronics International Ltd.
     30,000       177,900  
                    492,540  
Environmental Control - 6.96%
                
     
Republic Services, Inc.
     15,000       384,150  
  *  
Stericycle, Inc.
     8,000       396,160  
                    780,310  
Food - 5.35%
                
     
McCormick & Co., Inc.
     10,000       325,700  
     
The Hershey Co.
     7,000       274,610  
                    600,310  
Gas - 3.74%
                
     
Energen Corp.
     10,000       419,900  
                       
Hand & Machine Tools - 6.48%
                
     
Black & Decker Corp.
     8,000       352,960  
     
Snap-On, Inc.
     10,000       373,200  
                    726,160  
Healthcare - Products - 9.72%
                
     
Dentsply International, Inc.
     10,000       337,100  
  *  
Henry Schein, Inc.
     6,000       317,880  
     
STERIS Corp.
     15,000       435,300  
                    1,090,280  
 
 
 
 
 
Capital Management Mid-Cap Fund
            
                 
SCHEDULE OF INVESTMENTS
            
                 
As of August 31, 2009 (Unaudited)
            
                 
       
Shares
    
Market Value
  
                 
Common Stock - 85.13% (Continued)
            
                 
Healthcare - Services - 3.85%
            
   
Quest Diagnostics, Inc.
     8,000     $ 431,680  
                     
Home Furnishings - 2.86%
                
   
Whirlpool Corp.
     5,000       321,050  
                     
Household Products - 7.13%
                
   
Clorox Co.
     8,000       472,720  
  *  
Energizer Holdings, Inc.
     5,000       327,150  
                    799,870  
Mining - 3.32%
                
     
Cameco Corp.
     14,000       372,120  
                       
Miscellaneous Manufacturing - 3.91%
                
     
Parker Hannifin Corp.
     9,000       437,940  
                       
Oil & Gas - 2.77%
                
  *  
Rowan Companies, Inc.
     15,000       310,650  
                       
Oil & Gas Services - 3.19%
                
  *  
Cameron International Corp.
     10,000       357,100  
                       
Retail - 6.58%
                
  *  
Bed Bath & Beyond, Inc.
     10,000       364,800  
     
Ross Stores, Inc.
     8,000       373,120  
                    737,920  
Semiconductors - 1.16%
                
  *  
LSI Corp.
     25,000       130,250  
                       
Telecommunications - 1.27%
                
     
Frontier Communications Corp.
     20,000       142,200  
                       
Total Common Stock (Cost $9,610,271)
             9,545,880  
                       
Exchange-Traded Funds - 5.94%
                
  *  
iShares Silver Trust
     20,000       293,000  
  *  
SPDR Gold Trust
     4,000       373,600  
                       
Total Exchange-Traded Funds (Cost $602,120)
             666,600  
                       
Investment Company - 9.02%
                
  **  
Evergreen Money Market Fund Class I,  0.01%
                
     
     (Cost $1,010,911)
     1,010,911       1,010,911  
                       
Total Investments (Cost $11,223,302) - 100.09%
             11,223,391  
Liabilities in Excess of Other Assets, net - (0.09)%
             (10,603 )
                       
Net Assets - 100.00%
           $ 11,212,788  
 
*   Non-income producing investment.
** Rate shown represents the rate at August 31, 2009 is subject to change and resets daily.
 
 
 
 
 
Capital Management Mid-Cap Fund
            
             
SCHEDULE OF INVESTMENTS
            
             
As of August 31, 2009 (Unaudited)
            
   
% of Net
        
Industry
  
Assets
    
Market Value
  
             
Aerospace & Defense
     4.11 %   $ 460,400  
Banks
     0.37 %     41,400  
Beverages
     2.64 %     295,800  
Comestics
     2.35 %     263,900  
Electric
     2.98 %     334,100  
Electronics
     4.39 %     492,540  
Environmental Control
     6.96 %     780,310  
Exchange-Traded Funds
     5.94 %     666,600  
Food
     5.35 %     600,310  
Gas
     3.74 %     419,900  
Hand & Machine Tools
     6.48 %     726,160  
Healthcare - Products
     9.72 %     1,090,280  
Healthcare - Services
     3.85 %     431,680  
Home Furnishings
     2.86 %     321,050  
Household Products
     7.13 %     799,870  
Investment Company
     9.02 %     1,010,911  
Mining
     3.32 %     372,120  
Miscellaneous Manufacturing
     3.91 %     437,940  
Oil & Gas
     2.77 %     310,650  
Oil & Gas Services
     3.19 %     357,100  
Retail
     6.58 %     737,920  
Semiconductors
     1.16 %     130,250  
Telecommunications
     1.27 %     142,200  
Total
     100.09 %   $ 11,223,391  
 
See Notes to Schedules of Investments.
 
 
 
 
 
Capital Management Small-Cap Fund
            
                 
SCHEDULE OF INVESTMENTS
            
                 
As of August 31, 2009 (Unaudited)
            
                 
       
Shares
    
Market Value
  
                 
Common Stock - 89.05%
            
                 
Apparel - 2.65%
            
  *  
Deckers Outdoor Corp.
     3,000     $ 204,900  
                       
Biotechnology - 10.50%
                
  *  
Crucell NV ADR
     10,000       219,600  
  *  
Cubist Pharmaceuticals, Inc.
     10,000       206,800  
  *  
GTx, Inc.
     15,000       141,150  
  *  
Martek Biosciences Corp.
     10,000       245,500  
                    813,050  
Commercial Services - 2.16%
                
     
Deluxe Corp.
     10,000       167,100  
                       
Conglomerates - 3.33%
                
     
Rayonier, Inc.
     6,000       257,700  
                       
Cosmetics - 3.00%
                
  *  
Bare Escentuals, Inc.
     25,000       232,000  
                       
Distribution & Wholesale - 3.75%
                
     
Watsco, Inc.
     5,500       290,565  
                       
Electronics - 7.42%
                
  *  
Dionex Corp.
     5,000       300,700  
  *  
Itron, Inc.
     5,000       273,950  
                    574,650  
Engineering & Construction - 3.45%
                
  *  
Chicago Bridge & Iron Co.
     7,000       110,180  
  *  
Tudor Perini Corp.
     8,000       156,960  
                    267,140  
Food - 9.44%
                
     
Del Monte Foods Co.
     20,000       209,800  
     
Tootsie Roll Industries, Inc.
     10,609       250,903  
  *  
United Natural Foods, Inc.
     10,000       270,200  
                    730,903  
Healthcare - Services - 2.13%
                
  *  
Sun Healthcare Group, Inc.
     20,000       164,800  
                       
Household Products - 6.63%
                
  *  
Jarden Corp.
     10,000       243,500  
     
WD-40 Co.
     10,000       269,800  
                    513,300  
Insurance - 4.68%
                
     
Platinum Underwriters Holdings Ltd.
     10,000       362,500  
                       
Mining - 2.99%
                
     
Kinross Gold Corp.
     12,235       231,853  
 
 
 
 
 
Capital Management Small-Cap Fund
                
                       
SCHEDULE OF INVESTMENTS
                
                       
As of August 31, 2009 (Unaudited)
                
                       
         
Shares
    
Market Value
  
                       
Common Stock - 89.05% (Continued)
                
                       
Oil & Gas - 4.35%
                
     
Cabot Oil & Gas Corp.
     6,000     $ 211,500  
  *  
McMoRan Exploration Co.
     15,000       125,100  
                    336,600  
Oil & Gas Services - 1.35%
                
     
Gulf Island Fabrication, Inc.
     7,000       104,790  
                       
Pharmaceuticals - 3.20%
                
  *  
VCA Antech, Inc.
     10,000       247,500  
                       
Pipelines - 0.87%
                
     
Eagle Rock Energy Partners LP
     20,000       67,000  
                       
Real Estate Investment Trust - 2.64%
                
     
Capstead Mortgage Corp.
     15,000       204,750  
                       
Retail - 3.42%
                
     
The Buckle, Inc.
     10,000       264,500  
                       
Utilities - 11.09%
                
     
Black Hills Corp.
     10,000       255,800  
     
NorthWestern Corp.
     10,000       239,900  
     
South Jersey Industries, Inc.
     8,000       277,200  
     
Southwest Water Co.
     18,940       85,230  
                    858,130  
                       
Total Common Stock (Cost $7,341,163)
             6,893,731  
                       
Exchange-Traded Funds - 2.44%
                
     
Market Vectors Agribusiness ETF
     5,000       189,050  
                       
Total Exchange-Traded Funds (Cost $129,760)
             189,050  
                       
Investment Company - 7.80%
                
  **  
Evergreen Money Market Fund Class I,  0.01%
                
     
     (Cost $604,040)
     604,040       604,040  
                       
Total Investments (Cost $8,074,963) - 99.29%
             7,686,821  
Other Assets Less Liabilities, net - 0.71%
             54,741  
                       
Net Assets - 100.00%
           $ 7,741,562  
 
*   Non-income producing investment.
** Rate shown represents the rate at August 31, 2009 is subject to change and resets daily.
                       
The following abbreviations are used in this portfolio:
                       
ADR - American Depository Receipts
NV - Naamloze Vennootschap (Dutch)
 
 
 
 
 
Capital Management Small-Cap Fund
                
                       
                       
As of August 31, 2009 (Unaudited)
                
         
% of Net
          
Industry
  
Assets
    
Market Value
  
                       
     
Apparel
     2.65 %   $ 204,900  
     
Biotechnology
     10.50 %     813,050  
     
Commercial Services
     2.16 %     167,100  
     
Conglomerates
     3.33 %     257,700  
     
Cosmetics
     3.00 %     232,000  
     
Distribution & Wholesale
     3.75 %     290,565  
     
Electronics
     7.42 %     574,650  
     
Engineering & Construction
     3.45 %     267,140  
     
Exchange-Traded Funds
     2.44 %     189,050  
     
Food
     9.44 %     730,903  
     
Healthcare - Services
     2.13 %     164,800  
     
Household Products
     6.63 %     513,300  
     
Insurance
     4.68 %     362,500  
     
Investment Company
     7.80 %     604,040  
     
Mining
     2.99 %     231,853  
     
Oil & Gas
     4.35 %     336,600  
     
Oil & Gas Services
     1.35 %     104,790  
     
Pharmaceuticals
     3.20 %     247,500  
     
Pipelines
     0.87 %     67,000  
     
Real Estate Investment Trust
     2.64 %     204,750  
     
Retail
     3.42 %     264,500  
     
Utilities
     11.09 %     858,130  
     
Total
     99.29 %   $ 7,686,821  
 
See Notes to Schedules of Investments.
 
 
 
 
 
Capital Management Funds
Notes to Schedules of Investments
August 31, 2009 (Unaudited)

 Investment Valuation
The Funds’ investments in securities are carried at value. Securities listed on an exchange or quoted on a national market system are valued at the last sales price as of 4:00 p.m. Eastern Time. Securities traded in the NASDAQ over-the-counter market are generally valued at the NASDAQ Official Closing Price. Other securities traded in the over-the-counter market and listed securities for which no sale was reported on that date are valued at the most recent bid price. Securities and assets for which representative market quotations are not readily available (e.g., if the exchange on which the portfolio security is principally traded closes early or if trading of the particular portfolio security is halted during the day and does not resume prior to the Funds’ net asset value calculation) or which cannot be accurately valued using the Funds’ normal pricing procedures are valued at fair value as determined in good faith under policies approved by the Trustees. Fair value pricing may be used, for example, in situations where (i) a portfolio security is so thinly traded that there have been no transactions for that security over an extended period of time; (ii) the exchange on which the portfolio security is principally traded closes early; or (iii) trading of the portfolio security is halted during the day and does not resume prior to the Funds’ net asset value calculation. A portfolio security’s "fair value" price may differ from the price next available for that portfolio security using the Funds’ normal pricing procedures. Investment companies are valued at net asset value. Instruments with maturities of 60 days or less are valued at amortized cost, which approximates market value.   As of August 31, 2009, no securities were valued as determined by the Board of Trustees.
 
Statement on Financial Accounting Standards ("SFAS") No. 157 "Fair Value Measurements"  establishes a single authoritative definition of fair value, sets out a framework for measuring fair value and requires additional disclosure about fair value measurements.  SFAS 157 applies to fair value measurements already required or permitted by existing standards.  In accordance with SFAS 157, fair value is defined as the price that would be received by the Funds upon selling an asset or paid by the Funds to transfer a liability in an orderly transaction between market participants at the measurement date.  In the absence of a principal market for the asset or liability, the assumption is that the transaction occurs on the most advantageous market for the asset or liability. SFAS 157 established a three-tier fair value hierarchy that prioritizes the assumptions, also known as "inputs", to valuation techniques used by market participants to measure fair value.  The term "inputs" refers broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk, for example, the risk inherent in a particular valuation technique used to measure fair value (such as a pricing model) and/or the risk inherent in the inputs to the valuation technique.  Inputs may be observable or unobservable.  Observable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the reporting entity.  Unobservable inputs are inputs that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances.  The valuation techniques used to measure fair value should maximize the use of observable inputs and minimize the use of unobservable inputs.  The hierarchy of inputs is summarized in three levels with the highest priority given to Level 1 and the lowest priority given to Level 3.
 
The three-tier hierarchy of inputs is summarized below:
Level 1 - quoted prices in active markets for identical securities
Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, amortized cost, credit risk, etc.)
Level 3 - significant unobservable inputs (including the Funds’ own assumptions in determining the fair value of investments)
 
 
 
 
 
Capital Management Funds
Notes to Schedules of Investments
August 31, 2009 (Unaudited)(Continued)

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The following is a summary of the valuation inputs, representing 100% of the Funds’ investments, used to value the Funds’ net assets as of August 31, 2009:
Capital Management Mid-Cap Fund
  
 
 
 
Security Classification (a)
  
 
Level 1
(Quoted Prices)
    
Level 2
(Other Significant Observable Inputs)
    
 
 
Totals
  
Common Stocks (b)
   $ 9,545,880     $ -     $ 9,545,880  
Exchange-Traded Funds
     666,600       -       666,600  
Investment Company
     -       1,010,911       1,010,911  
Totals
   $ 10,212,480     $ 1,010,911     $ 11,223,391  

Capital Management Small-Cap Fund
  
 
 
 
Security Classification (a)
  
 
Level 1
(Quoted Prices)
    
Level 2
(Other Significant Observable Inputs)
    
 
 
Totals
  
Common Stocks (b)
   $ 6,893,731     $ -     $ 6,893,731  
Exchange-Traded Funds
     189,050       -       189,050  
Investment Company
     -       604,040       604,040  
Totals
   $ 7,082,781     $ 604,040     $ 7,686,821  
 
(a)  
As of and during the period ended August 31, 2009, the Funds held no securities that were considered to be "Level 3" securities (those valued using significant unobservable inputs).  Therefore, a reconciliation of assets in which significant unobservable inputs (Level 3) were used in determining fair value is not applicable.
 
(b)  
All common stocks held in the Funds are Level 1 securities.  For a detailed break-out of common stocks by major industry classification, please refer to the Schedules of Investments.

In April 2009, the Financial Accounting Standards Board ("FASB") issued FASB Staff Position No. 157-4, "Determining Fair Value When the Volume and Level of Activity for the Asset and Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly" ("FSP 157-4").  FSP 157-4 is effective for fiscal years and interim periods ending after June 15, 2009.  FSP 157-4 provides additional guidance for estimating fair value in accordance with FASB SFAS 157, when the volume and level of activity for the asset or liability have significantly decreased as well as guidance on identifying circumstances that indicate a transaction is not orderly.  The guidance provided by FSP 157-4 did not have an impact on the Funds’ approach to valuing financial assets.

Federal Income Tax
The aggregate cost of investments and the composition of unrealized appreciation and depreciation of investment securities for federal income tax purposes as of August 31, 2009 are noted below.
             
   
Federal
    
Aggregate Gross Unrealized
  
   
Tax Cost
    
Appreciation
    
Depreciation
  
Mid-Cap Fund
   $ 11,223,302     $ 1,252,052     $ (1,251,963 )
Small-Cap Fund
     8,074,963       958,091       (1,346,233 )
 
 
 
 
 
Item 2.
Controls and Procedures.

(a)
The registrant's principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”)) were effective, as of a date within 90 days of the filing date of this report based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 15d-15(b) under the Securities Exchange Act of 1934, as amended.

(b)
There were no changes to the Registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the Act) that occurred during the Registrant's last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting.

Item 3.
Exhibits.

(a)
A certification for the Principal Executive Officer and Principal Financial Officer of the registrant as required by Rule 30a-2(a) under the Act (17 CFR270.30a-2)is attached hereto as part of EX-99.cert.
 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant) Capital Management Investment Trust

By:
/s/ Ralph J. Scarpa
Name:
Ralph J. Scarpa
Title:
Principal Executive Officer and Principal Financial Officer
Date:
 October 26, 2009

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed by the following persons on behalf of the registrant and in the capacities and on the dates
indicated.

By:
/s/ Ralph J Scarpa
Name:
Ralph J. Scarpa
Title:
Principal Executive Officer and Principal Financial Officer
Date:
October 26, 2009

 EX-99.CERT 2 fp0001063_ex99cert.htm fp0001063_ex99cert.htm
 
Certification Pursuant to Section 302 of the Sarbanes-Oxley Act

I, Ralph J. Scarpa, certify that:
 
1.
I have reviewed this report on Form N-Q of the Capital Management Investment Trust, (the “registrant”);
 
2.
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
 
3.
Based on my knowledge, the schedule of investments included in this report fairly present in all material respects the investments of the registrant as of  the fiscal quarter for which the report is filed;
 
4.
The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:
 
 
(a)
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
 
 
(b)
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
 
 
(c)
Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and
 
 
(d)
Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and
 
5.
The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of trustees (or persons performing the equivalent functions):
 
 
(a)
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and
 
 
(b)
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.
 
 
Date: October 26, 2009
/s/ Ralph J. Scarpa
 
Ralph J. Scarpa
Principal Executive Officer and Principal Financial Officer
 
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