0001144204-14-028677.txt : 20140508 0001144204-14-028677.hdr.sgml : 20140508 20140508164706 ACCESSION NUMBER: 0001144204-14-028677 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 11 CONFORMED PERIOD OF REPORT: 20140331 FILED AS OF DATE: 20140508 DATE AS OF CHANGE: 20140508 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PHARMATHENE, INC CENTRAL INDEX KEY: 0001326190 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] IRS NUMBER: 202726770 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-32587 FILM NUMBER: 14825653 BUSINESS ADDRESS: STREET 1: ONE PARK PLACE, SUITE 450 CITY: ANNAPOLIS STATE: MD ZIP: 21401 BUSINESS PHONE: 410 269 2600 MAIL ADDRESS: STREET 1: ONE PARK PLACE, SUITE 450 CITY: ANNAPOLIS STATE: MD ZIP: 21401 FORMER COMPANY: FORMER CONFORMED NAME: HEALTHCARE ACQUISITION CORP DATE OF NAME CHANGE: 20050505 10-Q 1 v376166_10q.htm FORM 10-Q

  

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

  

FORM 10-Q

(Mark One)

 

  x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

            

For the quarterly period ended March 31, 2014

            

or

             

  ¨ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

Commission File Number:  001-32587

  

PHARMATHENE, INC.

(Exact name of registrant as specified in its charter)

 

Delaware   20-2726770

(State or other jurisdiction of incorporation or

organization)

   (I.R.S. Employer Identification No.)
     
One Park Place, Suite 450, Annapolis, Maryland   21401
(Address of principal executive offices)   (Zip Code)

 

(410) 269-2600

(Registrant’s telephone number, including area code)

  

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.  Yes x   No ¨

 

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data file required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).  Yes  x   No ¨

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.  See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

 

Large Accelerated Filer ¨   Accelerated Filer x
     
Non-Accelerated Filer ¨   Smaller Reporting Company ¨
(Do not check if a smaller reporting company)    

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).  Yes ¨   No x

  

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date:    The number of shares of the registrant’s Common Stock, par value $0.0001 per share, outstanding as of May 1, 2014 was 54,476,138.

 

 
 

  

PHARMATHENE, INC.

 

TABLE OF CONTENTS

 

 

    Page
     
PART I — FINANCIAL INFORMATION   1
     
Item 1.  Financial Statements   1
     
Item 2.  Management’s Discussion and Analysis of Financial Condition and Results of Operations   15
     
Item 3.  Quantitative and Qualitative Disclosures about Market Risk   21
     
Item 4.  Controls and Procedures   21
     
PART II — OTHER INFORMATION   22
     
Item 1.  Legal Proceedings   22
     
Item 1A.  Risk Factors   22
     
Item 2.  Unregistered Sales of Equity Securities and Use of Proceeds   24
     
Item 3.  Defaults Upon Senior Securities   24
     
Item 4. Mine Safety Disclosures   24
     
Item 5.  Other Information   24
     
Item 6.  Exhibits   24

 

i
 

 

 

Item 1.  Financial Statements  

PHARMATHENE, INC.

 

CONDENSED CONSOLIDATED BALANCE SHEETS

   

   March 31,   December 31, 
   2014
(Unaudited)		   2013 
ASSETS          
Current assets:          
Cash and cash equivalents  $9,534,720   $10,480,979 
Accounts receivable (billed)   -    1,427,113 
Unbilled accounts receivable   1,649,896    2,199,525 
Prepaid expenses and other current assets   401,448    231,491 
Total current assets   11,586,064    14,339,108 
           
Property and equipment, net   380,572    386,068 
Other long-term assets and deferred costs   59,132    65,660 
Goodwill   2,348,453    2,348,453 
Total assets  $14,374,221   $17,139,289 
           
LIABILITIES AND STOCKHOLDERS' EQUITY          
           
Current liabilities:          
Accounts payable  $471,803   $1,128,172 
Accrued expenses and other liabilities   1,929,379    3,182,687 
Deferred revenue   62,261    341,723 
Short-term debt   -    1,091,740 
Current portion of long-term debt   999,996    999,996 
Current portion of derivative instruments   2,018    51,663 
Total current liabilities   3,465,457    6,795,981 
           
Other long-term liabilities   602,398    588,745 
Long-term debt, less current portion   485,388    730,279 
Derivative instruments, less current portion   1,495,576    1,688,572 
Total liabilities   6,048,819    9,803,577 
           
Stockholders' equity:          
Common stock, $0.0001 par value; 100,000,000 shares authorized; 53,773,705 and 52,304,426 shares issued and outstanding at March 31, 2014 and December 31, 2013, respectively   5,377    5,230 
Additional paid-in-capital   221,125,757    217,877,117 
Accumulated other comprehensive loss   (219,367)   (218,710)
Accumulated deficit   (212,586,365)   (210,327,925)
Total stockholders' equity   8,325,402    7,335,712 
Total liabilities and stockholders' equity  $14,374,221   $17,139,289 

 

The accompanying notes are an integral part of the unaudited condensed consolidated financial statements.

  

1
 

 

PHARMATHENE, INC.

 

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS  

 

   Three Months Ended March 31, 
   2014   2013 
         
Contract Revenue  $3,742,525   $6,475,138 
           
Operating expenses:          
Research and development   3,427,000    5,233,475 
General and administrative   2,677,452    2,279,795 
Depreciation   39,939    52,602 
Total operating expenses   6,144,391    7,565,872 
           
Loss from operations  $(2,401,866)  $(1,090,734)
Other income (expense):          
Interest income and expense, net   (69,872)   (99,008)
Change in fair value of derivative instruments   242,641    (905,777)
Other income (expense)   362    (6,123)
Total other income (expense)   173,131    (1,010,908)
           
Net loss before provision for income taxes   (2,228,735)   (2,101,642)
Provision for income taxes   (29,705)   (9,743)
Net loss  $(2,258,440)  $(2,111,385)
           
Basic and diluted net loss per share  $(0.04)  $(0.04)
Weighted average shares used in calculation of basic and diluted net loss per share   53,044,119    48,359,181 

 

The accompanying notes are an integral part of the unaudited condensed consolidated financial statements.

 

2
 

 

PHARMATHENE, INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS

 

         
   Three months ended March 31, 
   2014   2013 
         
Net loss  $(2,258,440)  $(2,111,385)
Other comprehensive (loss) income:          
Foreign currency translation adjustments   (657)   (1,684)
Comprehensive loss  $(2,259,097)  $(2,113,069)

  

The accompanying notes are an integral part of the unaudited condensed consolidated financial statements.

  

3
 

  

PHARMATHENE, INC.

 

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

 

   Three months ended March 31, 
   2014   2013 
Operating activities          
Net loss  $(2,258,440)  $(2,111,385)
Adjustments to reconcile net loss to net cash used in operating activities:          
Share-based compensation expense   528,878    328,581 
Change in fair value of derivative instruments   (242,641)   905,777 
Depreciation expense   39,939    52,602 
Deferred income taxes   29,705    9,743 
Non-cash interest expense   26,591    32,431 
Gain on the disposal of property and equipment   (5,393)   - 
Changes in operating assets and liabilities:          
Accounts receivable   1,427,113    566,725 
Unbilled accounts receivable   549,629    400,645 
Prepaid expenses and other current assets   (178,704)   39,486 
Accounts payable   (656,373)   (407,653)
Accrued expenses and other liabilities   (1,274,906)   950,800 
Deferred revenue   (279,462)   (507,351)
Net cash (used in) provided by operating activities   (2,294,064)   260,401 
Investing activities          
Purchases of property and equipment   (37,050)   (25,468)
Proceeds from the sale of property and equipment   8,000    - 
Net cash used in investing activities   (29,050)   (25,468)
Financing activities          
Repayment of debt   (249,999)   - 
Net proceeds from (repayment of) revolving credit agreement   (1,091,740)   (1,274)
Deferred financing costs   -    (112,500)
Net proceeds from issuance of common stock   2,719,184    53,413 
Net cash provided (used) by financing activities   1,377,445    (60,361)
Effects of exchange rates on cash   (590)   (2,678)
(Decrease) increase in cash and cash equivalents   (946,259)   171,894 
Cash and cash equivalents, at beginning of period   10,480,979    12,701,517 
Cash and cash equivalents, at end of period  $9,534,720   $12,873,411 
           
Supplemental disclosure of cash flow information          
Cash paid for interest  $43,287   $67,360 

 

The accompanying notes are an integral part of the unaudited condensed consolidated financial statements.

 

4
 

 

PHARMATHENE, INC.

 

Notes to Unaudited Condensed Consolidated Financial Statements

March 31, 2014

 

Note 1 - Business and Liquidity

 

We are a biopharmaceutical company focused on developing biodefense countermeasure applications.  We are subject to those risks associated with any biopharmaceutical company that has substantial expenditures for research and development.  There can be no assurance that our research and development projects will be successful, that products developed will obtain necessary regulatory approval, or that any approved product will be commercially viable.  In addition, we operate in an environment of rapid technological change and are largely dependent on the services and expertise of our employees, consultants and other third parties.

 

Historically, we have performed under government contracts and grants and raised funds from investors (including additional equity and/or debt issued) to sustain our operations. The Company has spent and will continue to spend substantial funds in the research, development, clinical and preclinical testing in excess of revenues, to support the Company's product candidates with the goal of ultimately obtaining approval from the FDA, to market and sell our products. We have incurred losses in each year since inception, and have a retained deficit of $212.6 million. Our cash balance as of March 31, 2014 was $9.5 million, our accounts receivable (billed and unbilled) was $1.6 million, and our current liabilities were $3.5 million. The need to raise additional capital will depend on many factors, including, but not limited to, our future cash requirements, future contract funding, the ongoing proceedings in our litigation with SIGA (See Note 4 – Commitments and Contingencies), the timing, amount, and profitability of sales of ArestvyrTM, if any (including, potentially, the timing of SIGA’s recognition of revenue related thereto) in the event the trial court awards us a remedy tied to sales or profits of that product, our ability to collect amounts due from SIGA in the event the Delaware Court of Chancery awards us a remedy tied to sales or profits of ArestvyrTM, the outcome of any appeal of any subsequent decision by the Delaware Court of Chancery to the Delaware Supreme Court and future funding required to develop SparVax® in light of the notice the Company received from BARDA advising us of its decision to de-scope the current SparVax® anthrax vaccine contract through a partial termination for convenience. There can be no assurance that we will be able to raise additional capital in the future.

 

Note 2 - Summary of Significant Accounting Policies

 

Basis of Presentation

 

Our unaudited condensed consolidated financial statements include the accounts of PharmAthene, Inc. and its wholly-owned subsidiaries. All significant intercompany transactions and balances have been eliminated in consolidation. Our unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”).  In the opinion of management, the accompanying unaudited condensed consolidated financial statements include all adjustments, consisting of normal recurring adjustments, which are necessary to present fairly our financial position, results of operations and cash flows.  The unaudited condensed consolidated balance sheet at December 31, 2013 has been derived from audited consolidated financial statements at that date.  Interest income in the prior year has been reclassified and is now included in interest income and expense, net on the unaudited condensed consolidated statements of operations to conform with current year’s presentation. The interim results of operations are not necessarily indicative of the results that may occur for the full fiscal year.   Certain information and footnote disclosure normally included in the financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to instructions, rules and regulations prescribed by the U.S. Securities and Exchange Commission. We believe that the disclosures provided herein are adequate to make the information presented not misleading when these unaudited condensed consolidated financial statements are read in conjunction with the Consolidated Financial Statements and Notes included in our Annual Report on Form 10-K for the year ended December 31, 2013, filed with the Securities and Exchange Commission. We currently operate in one business segment.

 

Use of Estimates

 

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period.  Our unaudited condensed consolidated financial statements include significant estimates for our share-based compensation and the value of our financial instruments, among other things. Because of the use of estimates inherent in the financial reporting process, actual results could differ significantly from those estimates.

 

5
 

 

Foreign Currency Translation

 

The functional currency of our wholly owned foreign subsidiaries is their local currency.  Assets and liabilities of our foreign subsidiaries are translated into United States dollars based on exchange rates at the end of the reporting period.  Income and expense items are translated at the weighted average exchange rates prevailing during the reporting period. Translation adjustments for subsidiaries that have not been sold, substantially liquidated or otherwise disposed of, are accumulated in other comprehensive loss, a component of stockholders’ equity. Foreign currency translation adjustments are the sole component of accumulated other comprehensive loss at March 31, 2014 and December 31, 2013. Transaction gains or losses are included in the determination of net loss.

 

Cash and Cash Equivalents

 

Cash and cash equivalents are stated at market value.  We consider all highly liquid investments with original maturities of three months or less to be cash equivalents, which, among other things, consist of investments in money market funds with financial institutions. The Company maintains cash balances with financial institutions in excess of insured limits. The Company does not anticipate any losses on such cash balances.

 

Revolving Line of Credit and Term Loan

 

As discussed further in Note 6- Financing Transactions, we entered into a loan agreement with General Electric Capital Corporation (“GE Capital”) in March 2012. As part of that agreement, we issued stock purchase warrants to GE Capital that expire in March 2022. The fair value of the warrants was charged to additional paid-in-capital, resulting in a debt discount to the Term Loan at the date of issuance. The debt discount and the financing costs, incurred in connection with the agreement, are being amortized over the term of the loan using the effective interest method and are included in interest expense in the unaudited condensed consolidated statements of operations.

 

Significant Customers and Accounts Receivable

 

Our primary customers are the Biomedical Advanced Research and Development Authority, or BARDA, and Chemical Biological Medical Systems, or CBMS. As of March 31, 2014 and December 31, 2013, the Company’s receivable balances (both billed and unbilled) were comprised solely of receivables from BARDA. See Note 7 – Subsequent Events for further details on the status of our contract with BARDA.

 

Goodwill

 

Goodwill represents the excess of purchase price over the fair value of net identifiable assets associated with acquisitions. We review the recoverability of goodwill annually at the end of our fiscal year and whenever events or changes in circumstances indicate that it is more likely than not that impairment exists. Recoverability of goodwill is reviewed by comparing our market value (as measured by our stock price multiplied by the number of outstanding shares as of the end of the year) to the net book value of our equity. If our market value exceeds our net book value, no further analysis is required. We completed our annual impairment assessment of goodwill on December 31, 2013 and determined that there was no impairment as of that date. Changes in our business strategy or adverse changes in market conditions could impact the impairment analyses and require the recognition of an impairment charge equal to the excess of the carrying value over its estimated fair value.

 

Financial Instruments

 

Our financial instruments, and/or embedded features contained in those instruments, often are classified as derivative liabilities and are recorded at their fair values. The determination of fair value of these instrument and features requires estimates and judgments. Some of our stock purchase warrants are considered to be derivative liabilities due to the presence of net settlement features and/or non-standard anti-dilution provisions; the fair value of our warrants is determined based on the Black-Scholes option pricing model.  Use of the Black-Scholes option pricing model requires the use of unobservable inputs such as the expected term, anticipated volatility and expected dividends. See Note 3- Fair Value Measurements for further details.

 

 Revenue Recognition

 

We generate our revenue from different types of contractual arrangements: cost-plus-fee contracts and fixed price contracts.

 

Revenues on cost-plus-fee contracts are recognized in an amount equal to the costs incurred during the period plus an estimate of the applicable fee earned. The estimate of the applicable fee earned is determined by reference to the contract: if the contract defines the fee in terms of risk-based milestones and specifies the fees to be earned upon the completion of each milestone, then the fee is recognized when the related milestones are earned, as further described below; otherwise, we estimate the fee earned in a given period by using a proportional performance method based on costs incurred during the period as compared to total estimated project costs and application of the resulting fraction to the total project fee specified in the contract.

 

6
 

 

Under the milestone method of revenue recognition, milestone payments (including milestone payments for fees) contained in research and development arrangements are recognized as revenue when: (i) the milestones are achieved; (ii) no further performance obligations with respect to the milestone exist; (iii) collection is reasonably assured; and (iv) substantive effort was necessary to achieve the milestone.

 

Milestones are considered substantive if all of the following conditions are met:

 

  • it is commensurate with either our performance to meet the milestone or the enhancement of the value of the delivered item or items as a result of a specific outcome resulting from our performance to achieve the milestone,

 

  • it relates solely to past performance, and

 

  • the value of the milestone is reasonable relative to all the deliverables and payment terms (including other potential milestone consideration) within the arrangement.

 

If a milestone is deemed not to be substantive, the Company recognizes the portion of the milestone payment as revenue that correlates to work already performed using the proportional performance method; the remaining portion of the milestone payment is deferred and recognized as revenue as the Company completes its performance obligations.

 

Revenue on fixed price contracts (without substantive milestones as described above) is recognized on the percentage-of-completion method. The percentage-of-completion method recognizes income as the contract progresses (generally related to the costs incurred in providing the services required under the contract). The use of the percentage-of-completion method depends on the ability to make reasonable dependable estimates and the fact that circumstances may necessitate frequent revision of estimates does not indicate that the estimates are unreliable for the purpose for which they are used.

 

As a result of our revenue recognition policies and the billing provisions contained in our contracts, the timing of customer billings may differ from the timing of recognizing revenue. Amounts invoiced to customers in excess of revenue recognized are reflected on the balance sheet as deferred revenue. Amounts recognized as revenue in excess of amounts billed to customers are reflected on the balance sheet as unbilled accounts receivable.

 

Upon notice of termination of a contract from the government, all related termination costs are expensed. If there is assurance that collection is reasonably assured, then revenue is taken as if the contract was a cost-plus-fee contract.

 

Share-Based Compensation

 

We expense the estimated fair value of share-based awards granted to employees under our stock compensation plans. The fair value of stock options is determined at the grant date using the Black-Scholes option pricing model. The Black-Scholes model considers, among other factors, the expected life of the award and the expected volatility of our stock price. The value of the award that is ultimately expected to vest is recognized as expense on a straight line basis over the employee’s requisite service period.

 

The fair value of restricted stock grants is determined based on the closing price of our common stock on the award date and is recognized as expense ratably over the requisite service period.  

 

Employee share-based compensation expense recognized in the three months ended March 31, 2014 and 2013 was calculated based on awards ultimately expected to vest and has been reduced for estimated forfeitures at a rate of approximately 12%, based on historical forfeitures. 

Share-based compensation expense for the three months ended March 31, 2014 and 2013 was:

 

   Three months ended March 31, 
   2014   2013 
         
Research and development  $189,917   $88,634 
General and administrative   338,961    239,947 
Total share-based compensation expense  $528,878   $328,581 

 

7
 

 

 

During the three months ended March 31, 2014, we granted 1,217,755 options to employees and consultants and made no restricted stock grants.  During the three months ended March 31, 2013, we granted 60,000 options to employees and made no restricted stock grants.  At March 31, 2014, we had total unrecognized share-based compensation expense related to unvested awards of approximately $2.3 million net of estimated forfeitures, which we expect to recognize as expense over a weighted-average period of 2.8 years.

 

Income Taxes

 

We account for income taxes using the asset and liability approach, which requires the recognition of future tax benefits or liabilities on the temporary differences between the financial reporting and tax bases of our assets and liabilities. A valuation allowance is established when necessary to reduce deferred tax assets to the amounts expected to be realized. We also recognize a tax benefit from uncertain tax positions only if it is “more likely than not” that the position is sustainable based on its technical merits. Our policy is to recognize interest and penalties on uncertain tax positions as a component of income tax expense.

 

Income tax expense was $29,705 and $9,743 during the three months ended March 31, 2014 and 2013, respectively relating exclusively to the generation of a deferred tax liability associated with the tax amortization of goodwill, which is included as a component of other long-term liabilities on our consolidated balance sheets.

 

Basic and Diluted Net Loss Per Share

 

Income (loss) per share: Basic income (loss) per share is computed by dividing consolidated net income (loss) by the weighted average number of common shares outstanding during the period, excluding unvested restricted stock.

 

For periods of net income when the effects are not anti-dilutive, diluted earnings per share is computed by dividing our net income by the weighted average number of shares outstanding and the impact of all potential dilutive common shares, consisting  primarily of stock options, unvested restricted stock and stock purchase warrants.  The dilutive impact of our dilutive potential common shares resulting from stock options and stock purchase warrants is determined by applying the treasury stock method.  

 

For periods of net loss, diluted loss per share is calculated similarly to basic loss per share because the impact of all dilutive potential common shares is anti-dilutive due to the net losses. A total of approximately 12.6 million and 11.6 million potential dilutive securities have been excluded in the calculation of diluted net loss per share in the three months ended March 31, 2014 and 2013, respectively, because their inclusion would be anti-dilutive.

 

Recent Accounting Pronouncements

 

We have evaluated all Accounting Standards Updates through the date the unaudited condensed consolidated financial statements were issued and believe the adoption of these will not have a material impact on our results of operations, financial position, or cash flows.

 

Note 3 - Fair Value Measurements

 

We define fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date.  We report assets and liabilities that are measured at fair value using a three-level fair value hierarchy that prioritizes the inputs used to measure fair value.  This hierarchy maximizes the use of observable inputs and minimizes the use of unobservable inputs.  The three levels of inputs used to measure fair value are as follows:

 

  · Level 1 — Quoted prices in active markets for identical assets or liabilities.

 

  ·

Level 2 — Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar

assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets

that are not active; or other inputs that are observable or can be corroborated by observable market data.

 

  ·

Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to

the fair value of the assets or liabilities.  This includes certain pricing models, discounted cash flow methodologies

and similar techniques that use significant unobservable inputs.

 

An asset’s or liability’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement.  At each reporting period, we perform a detailed analysis of our assets and liabilities that are measured at fair value.  All assets and liabilities for which the fair value measurement is based on significant unobservable inputs or instruments which trade infrequently and therefore have little or no price transparency are classified as Level 3.

 

8
 

 

We have segregated our financial assets and liabilities that are measured at fair value into the most appropriate level within the fair value hierarchy based on the inputs used to determine the fair value at the measurement date in the table below.  We have no non-financial assets and liabilities that are measured at fair value on a recurring basis.  

 

The following table represents the Company’s fair value hierarchy for its financial assets and liabilities measured at fair value on a recurring basis:

 

   As of March 31, 2014 
   Level 1   Level 2   Level 3   Balance 
Assets                    
Investment in money market funds (1)  $6,428,787   $-   $-   $6,428,787 
Total investment in money market funds  $6,428,787   $-   $-    6,428,787 
                     
Liabilities                    
Current portion of derivative instruments related to stock purchase warrants  $-   $-   $2,018   $2,018 
Non-current portion of derivative instruments related to stock purchase warrants   -    -    1,495,576    1,495,576 
Total derivative instruments related to stock purchase warrants  $-   $-   $1,497,594   $1,497,594 

 

   As of December 31, 2013 
   Level 1   Level 2   Level 3   Balance 
Assets                    
Investment in money market funds (1)  $7,928,807   $-   $-   $7,928,807 
Total investment in money market funds  $7,928,807   $-   $-    7,928,807 
                     
Liabilities                    
Current portion of derivative instruments related to stock purchase warrants  $-   $-   $51,663   $51,663 
Non-current portion of derivative instruments related to stock purchase warrants  $-   $-   $1,688,572   $1,688,572 
Total derivative instruments related to stock purchase warrants  $-   $-   $1,740,235   $1,740,235 

 

(1)Included in cash and cash equivalents in accompanying condensed consolidated balance sheets.

 

As of March 31, 2014 and December 31, 2013, the Company did not have any transfers between Level 1 and Level 2 assets.

 

9
 

 

The following table sets forth a summary of changes in the fair value of the Company’s Level 3 liabilities for the three months ended March 31, 2014 and 2013:

 

   Balance as of   Unrealized   Balance as of 
   December 31,   (Gains)   March 31, 
Description  2013   2014   2014 
Derivative liabilities related to stock purchase warrants  $1,740,235   $(242,641)  $1,497,594 

 

    Balance as of    Unrealized    Balance as of 
    December 31,    Losses    March 31, 
Description   2012    2013    2013 
Derivative liabilities related to stock purchase warrants  $1,295,613   $905,777   $2,201,390 

 

At March 31, 2014 and 2013, derivative liabilities are comprised of warrants to purchase 2,899,991 shares of common stock. The warrants are considered to be derivative liabilities due to the presence of net settlement features and/or non-standard anti-dilution provisions, and as a result, are recorded at fair value at each balance sheet date. The fair value of our warrants is determined based on the Black-Scholes option pricing model. Use of the Black-Scholes option pricing model requires the use of unobservable inputs such as the expected term, anticipated volatility and expected dividends. Changes in any of the assumptions related to the unobservable inputs identified above may change the stock purchase warrants’ fair value; increases in expected term, anticipated volatility and expected dividends generally result in increases in fair value, while decreases in the unobservable inputs generally result in decreases in fair value. Unrealized gains and losses on the fair value adjustments for these derivative instruments are classified in other income (expense) as the change in fair value of derivative instruments in our unaudited condensed consolidated statements of operations.

 

Assets Measured at Fair Value on a Nonrecurring Basis

 

The Company measures its long-lived assets, including, property and equipment and goodwill, at fair value on a nonrecurring basis. These assets are recognized at fair value when they are deemed to be other-than-temporarily impaired. (See Note 2-Summary of Significant Accounting Polices). As of March 31, 2014, the Company had no other assets or liabilities that were measured at fair value on a nonrecurring basis.

 

Note 4 - Commitments and Contingencies

 

SIGA Litigation

 

In December 2006, we filed a complaint against SIGA Technologies, Inc. (“SIGA”) in the Delaware Court of Chancery.  The complaint alleged, among other things, that we have the right to license exclusively development and marketing rights for SIGA’s drug candidate, Arestvyr™ (Tecovirimat), pursuant to a merger agreement between the parties that was terminated in 2006.  The complaint also alleged that SIGA failed to negotiate in good faith the terms of such a license pursuant to the terminated merger agreement. 

 

In September 2011, the Court issued an opinion in the case finding that SIGA had breached certain contractual obligations to us and upholding our claims of promissory estoppel.  The Court awarded us the right to receive 50% of all net profits (as defined in the court’s final judgment) related to the sale of Arestvyr™ and related products for 10 years following initial commercial sale of the drug once SIGA earns $40 million in net profits from the sale of Arestvyr™ and related products.  The Court also awarded us one-third of our reasonable attorney's fees and expert witness fees, which amounts to approximately $2.4 million plus interest. In May 2012, the Court issued its final judgment. SIGA appealed aspects of the decision to the Delaware Supreme Court. In response, we cross-appealed other aspects of the decision.

 

In May 2013, the Delaware Supreme Court issued its ruling on the appeal, affirming the Delaware Court of Chancery’s finding that SIGA had breached certain contractual obligations to us, reversing its finding of promissory estoppel, and remanding the case back to the Delaware Court of Chancery to reconsider the remedy and award of attorney's fees and expert witness and other costs in light of the Delaware Supreme Court’s opinion. The Delaware Court of Chancery heard final oral arguments on the issue of remedy during the first quarter of 2014, and we expect the court to issue its ruling within the next several months. Currently, because the Delaware Supreme Court remanded the issue of a remedy back to the Delaware Court of Chancery, we no longer have a financial interest in ArestvyrTM and may never receive any proceeds from the product.

 

10
 

 

While we believe there may be significant revenue potential under a potential damages award, there can be no assurance that the Delaware Court of Chancery will re-instate its prior remedy or order another remedy for us, that SIGA will not appeal any subsequent decision by the Delaware Court of Chancery, or that SIGA will not be successful in any subsequent appeal. We have not yet recorded any amount due from SIGA in relation to this case.

  

Government Contracting

 

Payments to the Company on cost-plus-fee contracts are provisional. The accuracy and appropriateness of costs charged to U.S. Government contracts are subject to regulation, audit and possible disallowance by the Defense Contract Audit Agency, or DCAA, and other government agencies such as BARDA. Accordingly, costs billed or billable to U.S. Government customers are subject to potential adjustment upon audit by such agencies. In our opinion, adjustments that may result from audits are not expected to have a material effect on our financial position, results of operations, or cash flows.

 

Registration Rights Agreements

 

We entered into a Registration Rights Agreement with the investors who participated in the July 2009 private placement of convertible notes and related warrants.  We subsequently filed two registration statements on Form S-3 with the Securities and Exchange Commission to register the shares underlying the convertible notes and related warrants, which registration statements have been declared effective. We are obligated to maintain the registration statements effective until the date when all shares underlying the convertible notes and related warrants (and any other securities issued or issuable with respect to in exchange for such shares) have been sold. The convertible notes were converted or extinguished in 2010, although the related warrants remain outstanding. The warrants will expire on January 28, 2015.

 

We have separate registration rights agreements with investors, under which we have obligations to keep the corresponding registration statements effective until the registrable securities (as defined in each agreement) have been sold, and under which we may have separate obligations to file registration statements in the future on either a demand or “piggy-back” basis or both.

 

Under the terms of the convertible notes, which were converted or extinguished in 2010, if after the 2nd consecutive business day (other than during an allowable blackout period) on which sales of all of the securities required to be included on the registration statement cannot be made pursuant to the registration statement (a “Maintenance Failure”), we will be required to pay to each selling stockholder a one-time payment of 1.0% of the aggregate principal amount of the convertible notes relating to the affected shares on the initial day of a Maintenance Failure. Our total maximum obligation under this provision at March 31, 2014, which is not probable of payment, would be approximately $0.2 million.

 

Following a Maintenance Failure, we will also be required to make to each selling stockholder monthly payments of 1.0% of the aggregate principal amount of the convertible notes relating to the affected shares on every 30th day after the initial day of a Maintenance Failure, in each case prorated for shorter periods and until the failure is cured. Our total maximum obligation under this provision, which is not probable of payment, would be approximately $0.2 million for each month until the failure, if it occurs, is cured. 

 

Note 5 - Stockholders’ Equity

 

Long-Term Incentive Plan

 

In 2007, the Company’s stockholders approved the 2007 Long-Term Incentive Compensation Plan (the “2007 Plan”) which provides for the granting of incentive and non-qualified stock options, stock appreciation rights, performance units, restricted common awards and performance bonuses (collectively “awards”)  to Company officers and employees.  Additionally, the 2007 Plan authorizes the granting of non-qualified stock options and restricted stock awards to Company directors and to independent consultants.

  

In 2008, the Company’s shareholders approved amendments to the 2007 Plan, increasing from 3.5 million shares to 4.6 million shares the maximum number of shares authorized for issuance under the plan and adding an evergreen provision pursuant to which the number of shares authorized for issuance under the plan will increase automatically in each year, beginning in 2009 and continuing through 2015, according to certain limits set forth in the 2007 Plan.  However, the 2007 Plan evergreen provision limit was reached on January 1, 2014. At March 31, 2014, there are approximately 10.3 million shares approved for issuance under the 2007 plan, of which approximately 2.5 million shares are available to be issued. The Board of Directors in conjunction with management determines who receives awards, the vesting conditions and the exercise price.  Options may have a maximum term of ten years.

 

11
 

 

Warrants

 

At March 31, 2014 and 2013 there were warrants outstanding to purchase 5,620,128 shares of our common stock, respectively. The warrants outstanding as of March 31, 2014 and 2013 were as follows, and all are exercisable:

 

Number of Common Shares Underlying Warrants     Issue Date  Exercise Price   Expiration Date
 100,778  (1)  March 2007  $3.97   March 2017
 705,354  (2)  March 2009  $3.00   September 2014
 2,572,775  (1)  July 2009  $2.50   January 2015
 500,000  (2)  April 2010  $1.89   October 2015
 1,323,214  (2)  July 2010  $1.63   January 2017
 371,423  (2)  June 2011  $3.50   June 2016
 46,584  (1)  March 2012  $1.61   March 2022
 5,620,128              

 

  (1) These warrants to purchase common stock are classified as equity.

 

  (2) These warrants to purchase common stock are classified as derivative liabilities. The fair value of these liabilities (See Note 3 – Fair Value Measurements) is remeasured at the end of every reporting period and the change in fair value is reported in the unaudited condensed consolidated statements of operations as other income (expense).

 

Note 6 – Financing Transactions

 

Controlled Equity Offering

 

On March 25, 2013, we entered into a controlled equity offering arrangement with a sales agent pursuant to which we may offer and sell, from time to time, through the agent shares of our common stock having an aggregate offering price of up to $15.0 million. Under the arrangement, the agent may sell shares by any method permitted by law and deemed to be an “at-the-market” offering as defined in Rule 415 promulgated under the Securities Act of 1933, as amended, including sales made directly on NYSE MKT, or any other existing trading market for our common stock or to or through a market maker. Subject to the terms and conditions of that agreement, the agent will use commercially reasonable efforts, consistent with its normal trading and sales practices and applicable state and federal law, rules and regulations and the rules of NYSE MKT, to sell shares from time to time based upon our instructions. We are not obligated to sell any shares under the arrangement. We are obligated to pay the agent a commission of 3.0% of the aggregate gross proceeds from each sale of shares under the arrangement.

 

For the three month period ending March 31, 2014, we sold 1,324,553 shares of our common stock under this arrangement resulting in net proceeds (net of commission) to the Company of approximately $2.5 million. As of March 31, 2014, aggregate gross sales for additional common stock of approximately $6.0 million remained available under the arrangement.  See (Note 7 – Subsequent Events) for additional details.  

 

Loan Agreement with GE Capital

 

On March 30, 2012, we entered into a Loan Agreement with GE Capital. The Loan Agreement provides for a senior secured debt facility including a $2.5 million term loan and a revolving line of credit of up to $5.0 million based on our outstanding qualified accounts receivable. On March 30, 2012, the term loan was funded for an aggregate amount of $2.5 million.

  

Under the terms of the revolving line of credit, the Company may draw down from the revolving line of credit up to 85% of qualified billed accounts receivable and 80% of qualified unbilled accounts receivable. As of March 31, 2014, the total amount available to draw was approximately $0.9 million, of which none was drawn and outstanding. 

 

12
 

  

The fixed interest rate on the term loan is 10.14% per annum. The revolving line of credit has an adjustable interest rate based upon the 3-month London Interbank Offered Rate (LIBOR), with a floor of 1.5%, plus 5%. As of March 31, 2014, the interest rate was 6.5%. Both the term loan and the revolving line of credit mature in September 2015. Payments on the term loan were originally interest-only for the first 10 months (which was extended to 12 months pursuant to terms of the agreement); subsequently, the term loan began fully amortizing over its remaining term. Remaining principal payments on the term loan are scheduled as follows: 

 

Year  Principal Payments 
2014  $749,997 
2015   750,007 
   $1,500,004 

 

 

The term loan, net of discount of $14,620, is recorded on the 2014 condensed consolidated balance sheet, as follows:

 

Current portion of long-term debt  $999,996 
Long-term debt, less current portion   485,388 
   $1,485,384 

 

If we prepay the term loan and terminate the revolving line of credit prior to the scheduled maturity date, we are obligated to pay a prepayment premium equal to 2% of the then outstanding principal amount of the term loan. In addition, we are obligated to pay a final payment fee of 3% of the term loan balance. The final payment fee is being accrued and expensed over the term of the agreement, using the effective interest method and is included in other long-term liabilities on the condensed consolidated balance sheet.

 

Our obligations under the Loan Agreement are collateralized by a security interest in substantially all of our assets. While the security interest does not, except in limited circumstances, cover our intellectual property, it does cover any proceeds received by us from the use or sale of our intellectual property.

 

In connection with the Loan Agreement, we issued to GE Capital warrants to purchase 46,584 shares of the Company’s common stock at an exercise price of $1.61 per share. The warrants are exercisable immediately and subject to customary and standard anti-dilution adjustments. The warrants are classified in equity and, as a result, the fair value of the warrants was charged to additional paid-in capital resulting in a debt discount at the date of issuance. The debt discount is being amortized over the term of the loan agreement using the effective interest method. Financing costs incurred in connection with this agreement are also being amortized over the term of the agreement using the effective interest method.

 

We currently owe GE Capital an aggregate of approximately $1.5 million under the GE Loan Agreement.  As a result of the receipt of the notice that we received from BARDA on April 4, 2014 advising us of its decision to de-scope the current SparVax® anthrax vaccine contract through a partial termination for convenience (See Note 7 – Subsequent Events), and its subsequent communication, and any further communications that we may receive from BARDA in the future, GE Capital could assert that there has occurred an event of default under the GE Loan Agreement, which would allow GE Capital to terminate the commitment and the loans under the GE Loan Agreement and declare any or all of the obligations thereunder to be immediately due and payable. We have not received notice from GE Capital that an event of default has occurred.

 

The Company determined that the fair value of the term loan approximated its carrying value as of March 31, 2014. The yield in a high yield bond index as of March 31, 2012 was compared to the fixed interest rate on the term loan.  The change in the yield of the high yield bond index as of March 31, 2012 and March 31, 2014 was used to extrapolate a revised fixed interest rate on the term loan.  The original fixed interest rate on the term loan and the revised fixed interest rate were used to compare the net present values of the amount to be repaid to GE Capital. 

 

13
 

  

Note 7 – Subsequent Events

  

On April 4, 2014, we received notification from BARDA advising us of its decision to de-scope the current SparVax® anthrax vaccine contract through a partial termination for convenience. BARDA has subsequently provided guidance authorizing PharmAthene to complete six activities under the contract. All other activities were de-scoped, including the proposed Phase 2 clinical trial. PharmAthene has proposed a timeline for completing these contract activities up to and including the submission of its settlement proposal. The company expects these events to occur in the third or fourth quarter of 2014.

 

 

Subsequent to March 31, 2014, we sold 723,073 shares of our common stock under the controlled equity offering, which resulted in net proceeds of approximately $1.1 million. (See Note 6 – Financing Transactions). Aggregate gross proceeds of up to approximately $4.8 million remain available under the arrangement.

 

14
 

 

Item 2.  Management’s Discussion and Analysis of Financial Condition and Results of Operations.

 

This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.  This information may involve known and unknown risks, uncertainties and other factors that are difficult to predict and may cause our actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by any forward-looking statements.  These risks, uncertainties and other factors include, but are not limited to, risks associated with the following:

 

  ·

the reliability of the results of the studies relating to efficacy and safety, and possible adverse

effects resulting from the administration, of the Company’s product candidates;

 

  ·

funding delays, reductions in or elimination of U.S. government funding and/or non-renewal of

expiring funding for one or more of our development programs;

 

  ·

our common stock;

 

  ·

the GE Loan Agreement;

 

  ·

our net operating loss carryforwards, or NOLs;

 

  ·

the award of government contracts to our competitors or delays caused by third parties challenging

government contract awards to us;

 

  · unforeseen safety and efficacy issues;

 

  ·

challenges related to the development, technology transfer, scale-up, and/or process validation of

manufacturing processes for our product candidates;

 

 

·

 

 

.

unexpected determinations that these product candidates prove not to be effective and/or capable of

being marketed as products;

 

accomplishing future strategic acquisitions or business combinations;

  

as well as risks detailed under the caption “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2013, and in our other reports filed with the U.S. Securities and Exchange Commission (the “SEC”) from time to time thereafter. In particular, in its May 2013 decision, the Delaware Supreme Court reversed the remedy ordered by the Delaware Court of Chancery which awarded PharmAthene 50% of all net profits (as defined in the court's final judgment) related to the sale of ArestyvrTM (formerly called ST 246®) and related products for 10 years following the initial commercial sale of the drug once SIGA Technologies, Inc., or SIGA, earns $40.0 million in net profits from the sale of ArestyvrTM and related products and remanded the issue of a remedy back to the trial court for reconsideration. As a result, there can be no assurance that the Delaware Court of Chancery will issue a remedy that provides us with a financial interest in ArestvyrTM and related products or any remedy. Furthermore, there is significant uncertainty regarding the level and timing of sales of ArestvyrTM and when and whether it will be approved by the United States Food and Drug Administration, or the FDA, and corresponding health agencies around the world. Therefore, even if the Delaware Court of Chancery does award us a remedy that provides us monies related to sales or profit of ArestvyrTM, we cannot predict with certainty if or when SIGA will begin recognizing profit on the sale thereof and there can be no assurance that any profits, if recognized, received by SIGA and paid to us will be significant. Significant additional non-clinical animal studies, human clinical trials, and manufacturing development work remain to be completed for all our products candidates, including Valortim, rBChE and SparVax®. At this point, future government funding to support the development of Valortim®, rBChE and SparVax® is unlikely and remains uncertain. It is also uncertain whether any of our product candidates will be shown to be safe and effective and approved by regulatory authorities for use in humans. Forward-looking statements describe management’s current expectations regarding our future plans, strategies and objectives and are generally identifiable by use of the words “may,” “will,” “should,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” “project,” “potential” or “plan” or the negative of these words or other variations on these words or comparable terminology. Such statements include, but are not limited to:

  

  · statements about potential future government contract or grant awards;

 

  · potential payments under government contracts or grants;

 

  · potential regulatory approvals;

 

15
 

 

  · future product advancements; and

 

  · anticipated financial or operational results.

 

Forward-looking statements are based on assumptions that may be incorrect, and we cannot assure you that the projections included in the forward-looking statements will come to pass.

 

We have based the forward-looking statements included in this Quarterly Report on Form 10-Q on information available to us on the date of this Quarterly Report, and we assume no obligation to update any such forward-looking statements, other than as required by law.  Although we undertake no obligation to revise or update any forward-looking statements, whether as a result of new information, future events or otherwise, you are advised to consult any additional disclosures that we may make directly to you or through reports that we, in the future, may file with the SEC, including Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.

 

The following discussion should be read in conjunction with our unaudited condensed consolidated financial statements which present our results of operations for the three months ended March 31, 2014 and 2013, as well as our financial positions at March 31, 2014 and December 31, 2013, contained elsewhere in this Quarterly Report on Form 10-Q.  The following discussion should also be read in conjunction with the Annual Report on Form 10-K for the year ended December 31, 2013, filed on March 11, 2014, including the consolidated financial statements contained therein.

 

Overview

 

We are a biodefense company engaged in the development and commercialization of next generation medical countermeasures against biological and chemical threats.  Our current biodefense portfolio includes the following product candidates:

 

  · SparVax®, a next generation recombinant protective antigen (“rPA”) anthrax vaccine,

 

  ·

rBChE (recombinant butyrylcholinesterase) bioscavanger, a medical countermeasure for nerve agent poisoning

by organophosphorous compounds, including nerve gases and pesticides, and

 

  · Valortim®, a fully human monoclonal antibody for the prevention and treatment of anthrax infection.

 

In addition, in May 2013 the Delaware Supreme Court affirmed a September 2011 ruling of the Delaware Court of Chancery that SIGA had breached certain contractual obligations to us. The matter is on remand to the Delaware Court of Chancery to determine a remedy in light of the Delaware Supreme Court’s decision. Previously the Delaware Court of Chancery had awarded us the right to receive 50% of all net profits (as defined in the court’s final judgment) related to the sale of SIGA’s ArestvyrTM (formerly known as ST-246®) and related products for 10 years following initial commercial sale of the drug once SIGA earns $40.0 million in net profits from the sales of ArestvyrTM and related products and a portion of our attorney’s fees and expert witness and other costs. The Delaware Court of Chancery heard final oral arguments on the issue of remedy during the first quarter of 2014, and we expect the court to issue its ruling within the next several months. There can be no assurance that the Delaware Court of Chancery will re-instate its prior remedy or order another remedy for us, that SIGA will not appeal any subsequent decision by the Delaware Court of Chancery, or that SIGA will not be successful in any subsequent appeal.

 

On April 4, 2014, we received notification from BARDA, advising us of its decision to de-scope the current SparVax® anthrax vaccine contract through a partial termination for convenience. BARDA has subsequently provided guidance authorizing PharmAthene to complete six activities under the contract. All other activities were de-scoped, including the proposed Phase 2 clinical trial. PharmAthene has proposed a timeline for completing these contract activities up to and including the submission of its settlement proposal. The company expects these events to occur in the third or fourth quarter of 2014. We do not expect that we will receive additional significant funding from BARDA for the further development of SparVax®. Therefore, unless we are able to secure additional funding for our SparVax® development program, we anticipate that revenues for this program will be less in future periods than in prior years. We are continuing to explore different options for the future of the SparVax® program.

 

Critical Accounting Policies

 

A “critical accounting policy” is one that is both important to the portrayal of our financial condition and results of operations and that requires management’s most difficult, subjective or complex judgments. Such judgments are often the result of a need to make estimates about the effect of matters that are inherently uncertain. The preparation of our financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from those estimates. We believe that the disclosures provided herein are adequate to make the information presented not misleading when these unaudited condensed consolidated financial statements are read in conjunction with the Consolidated Financial Statements and Notes included in our Annual Report on Form 10-K for the year ended December 31, 2013, filed with the Securities and Exchange Commission.

 

16
 

 

There were no significant changes in critical accounting policies from those at December 31, 2013.

 

Results of Operations

 

Revenue    

 

We recognized revenue of $3.7 million and $6.5 million during the three months ended March 31, 2014 and 2013, respectively.

 

   Three months ended March 31, 
($ in millions)  2014   2013   % Change 
SparVax®  $3.4   $5.1    (33.3)
rBChE bioscavenger   0.3    1.4    (78.6)
Total Revenue  $3.7   $6.5    (43.1)

 

Our revenue was derived primarily from contracts with the U.S. government for the development of SparVax® and our rBChE bioscavanger. Our revenue in the three months ended March 31, 2014 changed from the comparable period of 2013 primarily due to the following:

 

  •

Under our contract for the development of SparVax®, we recognized approximately $3.4 million and $5.1 million in revenue for the three months ended March 31, 2014 and 2013, respectively. During the three months ended March 31, 2014, revenue was primarily attributable to specific development activities including stability testing of Final Drug Product (FDP), non-clinical animal studies, and preparation for the BARDA In Process Review (IPR) meeting. Milestone revenue was $0.3 million and $0.1 million for the three months ended March 31, 2014 and 2013, respectively. During the quarter ended March 31, 2013 revenue was primarily attributable to pre-clinical and other development work for SparVax®. The decrease in revenue for the three months ended March 31, 2014 compared to the same period in 2013 reflects lower overall development activity in the current period, due to among other things, the FDA’s clinical hold. On April 4, 2014, we received notification from BARDA advising us of its decision to de-scope the current SparVax® anthrax vaccine contract through a partial termination for convenience. BARDA has subsequently provided guidance authorizing PharmAthene to complete six activities under the contract. All other activities were de-scoped, including the proposed Phase 2 clinical trial. PharmAthene has proposed a timeline for completing these contract activities up to and including the submission of its settlement proposal. The company expects these events to occur in the third or fourth quarter of 2014. We do not expect that we will receive additional significant funding from BARDA for the further development of SparVax®. Therefore, unless we are able to secure additional funding for our SparVax® development program, we anticipate that revenues for this program will be less in future periods than in prior years.

  

  •

Under our contract for our second generation rBChE bioscavanger, we recognized approximately $0.3 million and $1.4 million of revenue for the three months ended March 31, 2014 and 2013, respectively. In the first three months of 2014 our activities were focused on the preparation and initial execution of planned efficacy and pharmacokinetic (PK) non- clinical studies, while in the comparable 2013 periods we completed additional upstream and downstream manufacturing activities and material purification and generation activities. The program period of performance was extended to September 2014 and as of March 31, 2014, approximately $0.6 million remains available under this contract. Unless we are able to secure additional funding for our rBChE bioscavanger development program, we anticipate that revenues for this program in future periods will be less than in prior years.

 

Research and Development Expenses

 

Our research and development expenses were $3.4 million and $5.2 million for the three months ended March 31, 2014 and March 31, 2013, respectively. These expenses resulted from research and development activities in all periods related primarily to our SparVax® and rBChE bioscavanger programs. Direct expenses included salaries and other costs of personnel, raw materials and supplies, and an allocation of indirect expenses. We also incurred third-party costs, such as contract research, consulting, and clinical development costs for individual projects. 

 

17
 

 

Research and development expenses for the three months ended March 31, 2014 and 2013 were attributable to research programs as follows:

 

   Three months ended March 31, 
($ in millions)  2014   2013   % Change 
SparVax ® and Valortim ®  $3.2   $4.4    (27.3)%
rBChE bioscavenger   0.2    0.8    (75.0)%
Total research and development expenses  $3.4   $5.2    (34.6)%

 

For the three months ended March 31, 2014, research and development expenses decreased $1.8 million from the same period in the prior year, due to decreased costs related to our SparVax® program, as a result of the FDA’s clinical hold imposed in December 2013, and the completion of additional immunopotency assay studies. Costs related to our rBChE bioscavanger program decreased as a result of the completion of certain manufacturing activities.

 

General and Administrative Expenses

 

General and administrative functions include executive management, finance and administration, government affairs and regulations, corporate development, human resources, legal, and compliance. For each function, we may incur expenses such as salaries, supplies and third-party consulting and other external costs and non-cash expenditures such as expense related to stock option and restricted share awards.  An allocation of indirect costs such as facilities, utilities, and other administrative overhead is also included in general and administrative expenses.

 

Expenses associated with general and administrative functions were $2.7 million for the three months ended March 31, 2014 and $2.3 million for the three months ended March 31, 2013.  The $0.4 million increase from the same period in the prior year was primarily due to severance costs related to the General Counsel position, increased shared-based compensation expense, and professional and legal fees.

 

Other Income (Expense)

 

Other income (expense) primarily consists of changes in the fair value of our derivative financial instruments and interest expense on our debt and other financial obligations. For the three months ended March 31, 2014, other income was $0.2 million compared to other expense of $1.0 million for the three months ended March 31, 2013, resulting in a change in other income (expense) of approximately $1.2 million. This was primarily the result of the $1.1 million change in the fair value of our derivative instruments, from an unrealized loss of $0.9 million to an unrealized gain of $0.2 million, for the three months ended March 31, 2013 and 2014, respectively.

 

Income Taxes

 

The provision for income taxes was $0.03 million and $0.01 million for the three months ended March 31, 2014 and 2013, respectively, an increase of approximately $0.02 million. Our provision for income taxes results from the difference between the treatment of goodwill for income tax purposes and for U.S. GAAP.

 

Liquidity and Capital Resources

 

Overview

 

In addition to amounts paid under our development contract for SparVax®, our primary source of cash during the first quarter of 2014 was provided from proceeds raised as a result of sales of shares of our common stock under the controlled equity offering arrangement, which we commenced at the end of March 2013. Our primary source of cash during the first quarter of 2013 was provided by our operating activities.

 

Our future capital requirements will depend on many factors, including, the progress of our research and development programs; the progress of preclinical and clinical testing; the time and cost involved in obtaining regulatory approval; the cost of filing, prosecuting, defending and enforcing any patent claims and other intellectual property rights; changes in our existing research relationships; competing technological and marketing developments; our ability to establish collaborative arrangements and to enter into licensing agreements and contractual arrangements with others; and any future change in our business strategy. Our cash requirements could change materially as a result of shifts in our business and strategy. The need to raise additional capital will depend on many factors, including, but not limited to, our future cash requirements, future contract funding, the ongoing proceedings in our litigation with SIGA (See Note 4 - Commitments and Contingencies), the timing, amount, and profitability of sales of ArestvyrTM, if any (including, potentially, the timing of SIGA’s recognition of revenue related thereto) in the event the trial court awards us a remedy tied to sales or profits of that product, our ability to collect amounts due from SIGA in the event the Delaware Court of Chancery awards us a remedy tied to sales or profits of ArestvyrTM, the outcome of any appeal of any subsequent decision by the Delaware Court of Chancery to the Delaware Supreme Court and future funding required to develop SparVax® in light of the notice the Company received from BARDA advising us of its decision to de-scope the current SparVax® anthrax vaccine contract through a partial termination for convenience.

 

18
 

 

Historically, we have not generated positive cash flows from operations. To bridge the gap between payments made to us under our U.S. government contracts and grants and our operating and capital needs, we have had to rely on a variety of financing sources, including the issuance of equity and equity-linked securities and proceeds from loans and other borrowings. On March 25, 2013, we entered into a controlled equity offering arrangement pursuant to which we may offer and sell, from time to time, through a sales agent, shares of our common stock having an aggregate offering price of up to $15.0 million. Due to the current economic environment, the U.S. government may be forced or choose to reduce or delay spending in the biodefense field, which could decrease the likelihood of future government contract awards, the likelihood that the government will exercise its right to extend any of its existing contracts with us and/or the likelihood that the government would procure products from us.

 

On April 4, 2014, we received notification from BARDA advising us of its decision to de-scope the current SparVax® anthrax vaccine contract through a partial termination for convenience. BARDA has subsequently provided guidance, authorizing PharmAthene to complete six activities under the contract. All other activities were de-scoped, including the proposed Phase 2 clinical trial. Unless we are able to secure additional funding for our SparVax® development program, we anticipate that revenues for this program will be less in future periods than in prior years.

 

We currently owe GE Capital an aggregate of approximately $1.5 million under the GE Loan Agreement. As a result of the notification from BARDA on April 4, 2014 advising us of its decision to de-scope the current SparVax® anthrax vaccine contract through a partial termination for convenience, and its subsequent communication, and any further communications that we may receive from BARDA in the future, GE Capital could assert that there has occurred an event of default under the GE Loan Agreement, which would allow GE Capital to terminate the commitment and the loans under the GE Loan Agreement and declare any or all of the obligations thereunder to be immediately due and payable. We have not received notice from GE Capital that an event of default has occurred.

 

Our unaudited condensed consolidated financial statements have been prepared on a basis which assumes that we will continue as a going concern and which contemplates the realization of assets and the satisfaction of liabilities and commitments in the normal course of business and do not include any adjustments that might result if the carrying amount of recorded assets and liabilities are not realized.

 

Cash and cash equivalents were $9.5 million and $10.5 million at March 31, 2014 and December 31, 2013, respectively. 

 

Cash Flows

 

The following table provides information regarding our cash flows for the three months ended March 31, 2014 and 2013:

 

   Three months ended March 31, 
   2014   2013 
Net cash provided by (used in):          
Operating activities  $(2,294,064)  $260,401 
Investing activities   (29,050)   (25,468)
Financing activities   1,377,445    (60,361)
Effects of exchange rates on cash   (590)   (2,678)
Total (decrease) increase in
cash and cash equivalents		  $(946,259)  $171,894 

 

 Operating Activities

 

Net cash used by operating activities was $2.3 million for the three months ended March 31, 2014 and $0.3 million was provided by operating activities for the three months ended March 31, 2013.   

 

19
 

 

Net cash used by operating activities during the three months ended March 31, 2014 reflects our net loss of $2.3 million, adjusted for non-cash share-based compensation expense of $0.5 million, the decrease in the fair value of our derivative instruments of $0.2 million, and other non-cash expenses of $0.1 million. A decrease in receivables (billed and unbilled) of approximately $2.0 million was offset by a decrease in liabilities of $2.2 million and an increase in prepaid expenses of $0.2 million.

 

Net cash provided by operating activities during the three months ended March 31, 2013 reflects our net loss of $2.1 million, adjusted for the increase in the fair value of our derivative instruments of $0.9 million and other noncash expenses of $0.4 million. A decrease in receivables (billed and unbilled) of approximately $1.0 million and an increase in accrued expenses and other liabilities of $1.0 million was partially offset by a decrease in accounts payable of $0.4 million and deferred revenue of $0.5 million.

 

Investing Activities

 

There were no significant investing activities during the three months ended March 31, 2014 and March 31, 2013.

 

Financing Activities

 

Net cash provided by financing activities was $1.4 million for the three months ended March 31, 2014, as compared to $0.1 million used by financing activities for the three months ended March 31, 2013.  

 

Net cash provided by financing activities during the three months ended March 31, 2014 was primarily due to net proceeds received of $2.5 million from the sale of our common stock under the controlled equity offering arrangement. This was partially offset by a $1.1 million repayment of the revolving credit agreement and $0.3 million term loan. Net cash used by financing activities for the three months ended March 31, 2013 was principally the result of issuance costs incurred in connection with the controlled equity offering which were partially offset from proceeds received from the issuance of common stock in connection with stock option exercises.

 

On March 25, 2013, we entered into a controlled equity offering arrangement pursuant to which we may offer and sell, from time to time, through a sales agent, shares of our common stock having an aggregate offering price of up to $15.0 million. Under the arrangement, the agent may sell shares by any method permitted by law and deemed to be an “at-the-market” offering as defined in Rule 415 promulgated under the Securities Act of 1933, as amended, including sales made directly on the NYSE MKT, on any other existing trading market for the Common Stock or to or through a market maker. We are not obligated to sell any shares under this arrangement. We are obligated to pay the agent a commission of 3.0% of the aggregate gross proceeds from each sale of shares. As of March 31, 2014, aggregate gross sales for additional common stock of approximately $6.0 million remained available under the arrangement.

 

Off-Balance Sheet Arrangements

 

We do not have any off-balance sheet arrangements.

 

Contractual Obligations

 

The following are contractual commitments at March 31, 2014: 

 

Contractual Obligations(1)  Total   Less than 1 Year   1-3 Years   3-5 Years   More than 5 Years 
Operating facility leases  $2,626,400   $803,600   $1,680,000   $142,800   $- 
Research and development agreements   2,020,693    2,020,693    -    -    - 
Term loan, principal and interest payments   1,624,000    1,108,000    516,000    -    - 
Total contractual obligations  $6,271,093   $3,932,293   $2,196,000   $142,800   $- 

 

 (1)  This table does not include any royalty payments relating to future sales of products subject to license agreements the Company has entered into in relation to its in-licensed technology, as the timing and likelihood of such payments are not known. In addition, the table does not include the final payment fee of $0.1 million on the term loan, which is being accrued and expensed over the term of the agreement, using the effective interest method, or the debt discount, which is being amortized over the term of the agreement. See additional discussion in Note 6 – Financing Transactions in the unaudited condensed consolidated financial statements which are included in Part 1 of this Form 10-Q.

 

20
 

 

Item 3.  Quantitative and Qualitative Disclosures about Market Risk.

 

Our exposure to market risk is currently confined to our cash and cash equivalents, our revolving line of credit and our derivative instruments.   We currently do not hedge interest rate exposure or foreign currency exchange exposure.  We have not used derivative financial instruments for speculation or trading purposes. 

 

The Company’s current operations in foreign countries are minimal. We have closed our active operations in Canada and maintain only nominal operations in the United Kingdom. A 10% change in exchange rates (against the U.S. dollar) would not have a material impact on earnings, fair values or cash flow. 

 

Because of the short-term maturities of our cash and cash equivalents, we do not believe that an increase in market interest rates would have a significant impact on their realized value. Our term loan with GE Capital is at a fixed 10.14% rate. Because of the fixed rate, a change in market interest rates would not have an impact on interest expense associated with the loan. The interest rate on the revolving line of credit is variable; therefore, a 1% increase in market interest rates above the interest rate floor of 1.5%, would increase interest expense associated with the line by $50,000 if the maximum amount of the line ($5.0 million) was drawn for a full year.

 

The change in fair value of our derivative instruments is calculated utilizing the Black-Scholes model; therefore, a 10% increase/decrease in the closing price of PharmAthene’s common stock at March 31, 2014, would result in a change in fair value of derivative instruments and our earnings of approximately $0.3 million.

 

Item 4.  Controls and Procedures.

 

Evaluation of Disclosure Controls and Procedures

 

Our management, including our principal executive and principal financial officers, has evaluated the effectiveness of our disclosure controls and procedures as of March 31, 2014. Our disclosure controls and procedures are designed to provide reasonable assurance that the information required to be disclosed in reports we file or submit under the Securities Exchange Act of 1934, as amended, is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms, and that such information is accumulated and communicated to our management, including our principal executive and principal financial officers, to allow timely decisions regarding required disclosure. Based on that evaluation, our principal executive and principal financial officers have concluded that our disclosure controls and procedures are effective at the reasonable assurance level. 

 

Changes in Internal Control Over Financial Reporting

 

Our management, including our principal executive and principal financial officers, has evaluated any changes in our internal control over financial reporting that occurred during the quarterly period ended March 31, 2014, and has concluded that there was no change that occurred during the quarterly period ended March 31, 2014 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.  

  

21
 

 

PART II — OTHER INFORMATION

 

Item 1.  Legal Proceedings

 

Except as noted below, we are not a defendant in any legal proceedings.

 

In December 2006, we filed a complaint against SIGA in the Delaware Court of Chancery. The complaint alleged, among other things, that we have the right to license exclusively development and marketing rights for SIGA’s drug candidate, ArestvyrTM (Tecovirimat), pursuant to a merger agreement between the parties that was terminated in 2006. The complaint also alleged that SIGA failed to negotiate in good faith the terms of such a license pursuant to the terminated merger agreement with SIGA.

 

In September 2011, the Delaware Court of Chancery issued an opinion in the case finding that SIGA had breached certain contractual obligations to us and upholding our claims of promissory estoppel. The Delaware Court of Chancery awarded us the right to receive 50% of all net profits (as defined in the court’s final judgment) related to the sale of ArestvyrTM (formerly known as ST-246®) and related products for 10 years following initial commercial sale of the drug once SIGA earns $40.0 million in net profits from the sale of ArestvyrTM and related products. The Delaware Court of Chancery also awarded us a portion of our attorney's fees and expert witness and other costs. In May 2012, the Delaware Court of Chancery issued its final judgment. SIGA appealed aspects of the decision to the Delaware Supreme Court. In response, we cross-appealed other aspects of the decision.

 

In May 2013, the Delaware Supreme Court issued its ruling on the appeal, affirming the Delaware Court of Chancery’s finding that SIGA had breached certain contractual obligations to us, reversing its finding of promissory estoppel, and remanding the case back to the Delaware Court of Chancery to reconsider the remedy and award of attorney's fees and expert witness and other costs in light of the Delaware Supreme Court’s opinion. The Delaware Court of Chancery heard final oral arguments on the issue of remedy during the first quarter of 2014, and we expect the court to issue its ruling within the next several months. Currently, because the Delaware Supreme Court remanded the issue of a remedy back to the Delaware Court of Chancery, we no longer have a financial interest in ArestvyrTM and may never receive any proceeds from the product.

 

While we believe there may be significant revenue potential under a potential damages award, there can be no assurance that the Delaware Court of Chancery will re-instate its prior remedy or order another remedy for us, that SIGA will not appeal any subsequent decision by the Delaware Court of Chancery, or that SIGA will not be successful in any subsequent appeal.

 

Item 1A.  Risk Factors

 

Investing in our securities involves risks.  In addition to the other information in this quarterly report on Form 10-Q, stockholders and potential investors should carefully consider the risks and uncertainties discussed in the section titled "Item 1A.  Risk Factors" in our annual report on Form 10-K for the year ended December 31, 2013.  Except as set forth below, there have been no material changes to the risk factors included in the section titled "Item 1A.  Risk Factors" in our annual report on Form 10-K for the year ended December 31, 2013.  The following risk factors are updated from the comparably titled risk factors included in the Form 10-K for the year ended December 31, 2013. All capitalized terms used in this section titled "Item 1A.  Risk Factors" and not otherwise defined herein shall have the respective meanings assigned to such terms in the section titled "Item 1A.  Risk Factors" in our annual report on Form 10-K for the year ended December 31, 2013. 

 

We have not commercialized any products or recognized any revenues from sales. SparVax® has been placed on clinical hold for a second time and our contract with BARDA has been partially terminated for convenience. All of our product candidates are still under development, and there can be no assurance of successful commercialization of any of our products.

 

We have not commercialized any product candidates or recognized any revenues from product sales. In general, our research and development programs are in development stages. There can be no assurances that one or more of our future product candidates will not fail to meet safety and efficacy standards in human testing, even if those product candidates are found to be effective in animal studies. To develop and commercialize biodefense treatment and prophylactic product candidates, we must provide the FDA and foreign regulatory authorities with human clinical and non-clinical animal data that demonstrate adequate safety and effectiveness. To generate these data, we will have to subject our product candidates to significant additional research and development efforts, including extensive non-clinical studies and clinical testing. We cannot be sure that our approach to drug discovery will be effective or will result in the development of any drug. Our development efforts have been primarily focused on one product candidate, SparVax®. Even if our product candidates are successful when tested in animals, such success would not be a guarantee of the safety or effectiveness of such product candidates in humans.

 

22
 

 

In August 2012, we received notification from the FDA that our SparVax® rPA anthrax vaccine program was placed on clinical hold prior to initiating any patient dosing in a planned Phase 2 clinical trial. The FDA requested additional stability data and information related to the stability indicating assays, which we supplied, and the FDA lifted the clinical hold in May 2013. In December 2013, we received notification from the FDA that our SparVax® rPA anthrax vaccine program was placed on clinical hold for a second time. Specifically the FDA observed a statistically significant downward trend in potency in the engineering lot of FDP manufactured in early 2012 and a similar but not statistically significant trend in the cGMP lot of SparVax® FDP produced four months later that we had intended to use in a planned Phase 2 clinical trial. PharmAthene recently completed the in-life portion of an ongoing non-clinical rabbit study which showed SparVax® to be beneficial in preventing anthrax infection in animals exposed to anthrax spores. This study was designed to evaluate the efficacy of SparVax® compared to BioThrax® in animals exposed to a lethal dose of anthrax. The study used the cGMP lot of SparVax® FDP that was 22 months old at the initial dose. The dose was repeated 28 days later using the same lot. Rabbits were vaccinated with an estimated human equivalent dose of each vaccine and the data showed 100% survival for both products. Additional data from future SparVax® clinical trials and non-clinical animal studies will be required to establish efficacy in humans. To move forward with clinical development of SparVax® and to be able to respond to the FDA’s concerns, the FDA has requested that we produce a new cGMP lot of FDP, provide the lot release data to the FDA, and provide stability data to the FDA on the BDS we use to produce the final drug product lot. The FDA has also requested that we continue to collect stability data on the previously manufactured engineering and cGMP lots. We cannot be certain that we will be able to produce a cGMP lot of SparVax® FDP that the FDA will find acceptable and it is unclear at this point when or if we will be able to commence a Phase 2 human clinical trial of SparVax®. Consequently, SparVax® revenues will be substantially less overall than they otherwise would have been. The clinical hold will delay the commercialization, if any, of SparVax®, and we cannot offer any assurance that we will ever be able to continue or complete product development for SparVax®.

 

On April 4, 2014, we received notification from BARDA, advising us of its decision to de-scope the current SparVax® anthrax vaccine contract through a partial termination for convenience. BARDA has subsequently provided guidance authorizing PharmAthene to complete six activities under the contract. All other activities were de-scoped, including the proposed Phase 2 clinical trial. PharmAthene has proposed a timeline for completing these contract activities up to and including the submission of its settlement proposal. The company expects these events to occur in the third or fourth quarter of 2014. Reference is made to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2013, and the relevant exhibits thereto, for a description of the Agreement. We do not expect that we will receive additional significant funding from BARDA for the further development of SparVax®.

 

All of our immediately foreseeable future revenues are contingent upon grants and contracts from the U.S. government and we may not achieve sufficient revenues from these agreements to attain profitability.

 

For the foreseeable future, we believe our main customer will be the U.S. government. Substantially all of our revenues to date have been derived from grants and U.S. government contracts. There can be no assurances that we can enter into new contracts or receive new grants to supply the United States or other governments with our products. The process of obtaining government contracts is lengthy and uncertain.

 

On April 4, 2014, we received notification from BARDA, advising us of its decision to de-scope the current SparVax® anthrax vaccine contract through a partial termination for convenience. We do not expect that we will receive additional significant funding from BARDA for the further development of SparVax®. If the U.S. government makes significant contract awards for the supply to the SNS to our competitors, rather than to us, our business may be harmed and we may ultimately be unable to supply that particular treatment or product to foreign governments or other third parties. Further, changes in U.S. government budgets and agendas, funding strategies, cost overruns in our programs, or advances by our competitors, may result in changes in the timing of funding for, a decreased and de-prioritized emphasis on, or termination of, U.S. government contracts that support the development and/or procurement of the biodefense products we are developing. For example, while RFP-BARDA-08-15 for an rPA-based anthrax vaccine for the SNS initially indicated that the U.S. government would make an award by September 26, 2008, the award was delayed multiple times and ultimately canceled in December 2009.

 

23
 

 

Funding is subject to U.S. Congressional appropriations, which are generally made on an annual basis even for multi-year contracts. More generally, due to the ongoing economic uncertainty, the U.S. government may reduce or delay spending in the biodefense field or eliminate funding of certain programs altogether, which could decrease the likelihood of future government contract awards or that the government would procure products from us. Future funding levels for two of our key government customers, BARDA and the U.S. Department of Defense, for the advanced development and procurement of MCMs are uncertain, and may be subject to budget cuts as the U.S. Congress and the President look to reduce the nation’s budget deficit. The Pandemic and All- Hazards Preparedness Reauthorization Act, or PAHPRA, signed into law in March 2013, authorized $2.8 billion in funding for the SRF for fiscal years 2014-2018. These funds are for the procurement of MCMs. PAHPRA also authorized $415 million in funding to BARDA for advanced development activities. However, actual funding for BARDA is dependent on annual congressional appropriations and congress is not obligated to appropriate the authorized amount. The fiscal year 2014 appropriation for BARDA advanced development is consistent with PAHPRA at $415 million. The fiscal year 2014 appropriation for the SRF is $255 million.

 

Our product development contract for Valortim® with NIAID expired January 31, 2012. In 2013 we entered into a contract for approximately $1 million to supply 35 vials of master cell bank for Valortim® to BARDA. There can be no assurance we will be successful in obtaining additional financial support to develop or procure Valortim®.

 

Our fully-secured loan agreement with GE Capital is subject to acceleration in specified circumstances, which may result in GE Capital terminating the commitment, accelerating repayment of obligations or taking possession and disposing of any collateral.

 

In the first quarter 2012, we closed on a senior fully-secured debt facility with GE Capital providing for a $2.5 million term loan and a revolving line of credit of up to $5.0 million based on a percentage of our outstanding qualified accounts receivable. Our obligations under the GE Loan Agreement are secured by a security interest in substantially all of our assets. While the security interest does not, except in limited circumstances, cover our intellectual property, it does cover any proceeds to us from the use of intellectual property. The GE Loan Agreement contains customary representations, warranties and covenants, including limitations on acquisitions, dispositions, incurrence of indebtedness and the granting of security interests. Upon the occurrence and during the continuance of any event of default, GE Capital may, and at the written request of the requisite lenders shall, terminate the commitments under the facilities and declare any or all of the obligations to be immediately due and payable, without demand or notice to us. Any event of default relating to timely payment of debts, insolvency, liquidation, bankruptcy or similar events will result in automatic acceleration. Among the remedies available to GE Capital in case of an event of default are terminating the commitment, accelerating repayment of obligations or taking possession and disposition of any collateral under the GE Loan Agreement.

 

We currently owe GE Capital an aggregate of approximately $1.5 million under the GE Loan Agreement. As a result of the receipt of the notice that we received from BARDA on April 4, 2014 advising us of its decision to de-scope the current SparVax® anthrax vaccine contract through a partial termination for convenience, and its subsequent communication, and any further communications that we may receive from BARDA in the future, GE Capital could assert that there has occurred an event of default under the GE Loan Agreement, which would allow GE Capital to terminate the commitment and the loans under the GE Loan Agreement and declare any or all of the obligations thereunder to be immediately due and payable.

 

Item 2.  Unregistered Sales of Equity Securities and Use of Proceeds

 

None.

 

Item 3. Default upon Senior Securities

 

Not applicable.

 

Item 4. Mine Safety Disclosures

 

Not applicable.

 

Item 5. Other Information

 

None.  

 

Item 6.  Exhibits. 

  

No.   Description
31.1     Certification of Principal Executive Officer Pursuant to SEC Rule 13a-14(a)/15d-14(a)
     
31.2     Certification of Principal Financial Officer Pursuant to SEC Rule 13a-14(a)/15d-14(a)
     
32.1     Certification of Principal Executive Officer Pursuant to 18 U.S.C. Section 1350
     
32.2     Certification of Principal Financial Officer Pursuant to 18 U.S.C. Section 1350  

 

24
 

 

(101)*     The following condensed consolidated financial statements from the PharmAthene, Inc. Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2014, formatted in Extensive Business Reporting Language ("XBRL"): (i) Condensed Consolidated Balance Sheets as of March 31, 2014 and December 31, 2013, (ii) Unaudited Condensed Consolidated Statements of Operations for the three months ended March 31, 2014 and 2013, (iii) Unaudited Condensed Consolidated Statements of Comprehensive Loss for the three months ended March 31, 2014 and 2013, (iv) Unaudited Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2014 and 2013, and (v) Notes to consolidated financial statements.      
     
101.INS*     Instance Document      
     
101.SCH*   XBRL Taxonomy Extension Schema Document      
     
101.CAL*   XBRL Taxonomy Extension Calculation Linkbase Document      
     
101.DEF*   XBRL Taxonomy Extension Definition Linkbase Document      
     
101.LAB*   XBRL Taxonomy Extension Label Linkbase Document      
     
101.PRE*     XBRL Taxonomy Extension Presentation Linkbase Document

     

25
 

  

SIGNATURES

 

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused the report to be signed on its behalf by the undersigned, thereunto duly authorized.

   

  PHARMATHENE, INC.
     
Dated: May 8, 2014 By: /s/ Eric I. Richman
  Name: Eric I. Richman
  Title: President and Chief Executive Officer
     
Dated: May 8, 2014 By: /s/ Linda L. Chang
  Name: Linda L. Chang
  Title: Chief Financial Officer

  

26

 

 

 EX-31.1 2 v376166_ex31-1.htm EXHIBIT 31.1

 

Exhibit 31.1

 

Certification of Principal Executive Officer

Pursuant to SEC Rule 13a-14(a)/15d-14(a)

 

I, Eric I. Richman, certify that:

 

1. I have reviewed this Form 10-Q of PharmAthene, Inc. for the period ended March 31, 2014;

 

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 financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

 

4.

The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) 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 statement 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 the end of the period covered by 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 (the registrant’s fourth fiscal quarter in the case of an annual report) 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, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (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.

  

Dated: May 8, 2014 /s/ Eric I. Richman
  Name: Eric I. Richman
  Title: Chief Executive Officer

 

 

 EX-31.2 3 v376166_ex31-2.htm EXHIBIT 31.2

   

Exhibit 31.2

 

Certification of Principal Financial Officer

  Pursuant to SEC Rule 13a-14(a)/15d-14(a)

 

I, Linda L. Chang, certify that:

 

1. I have reviewed this Form 10-Q of PharmAthene, Inc. for the period ended March 31, 2014;

 

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 financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

 

4.

The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) 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 statement 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 the end of the period covered by 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 (the registrant’s fourth fiscal quarter in the case of an annual report) 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, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (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.

  

Dated: May 8, 2014 /s/ Linda L. Chang
  Name: Linda L. Chang
  Title: Chief Financial Officer

 

 

  

 EX-32.1 4 v376166_ex32-1.htm EXHIBIT 32.1

 

Exhibit 32.1

 

Certification Pursuant to Section 1350 of Chapter 63

of Title 18 of the United States Code

 

In connection with the Quarterly Report on Form 10-Q of PharmAthene, Inc. (the “Company”) for the period ended March 31, 2014, as filed with the Securities and Exchange Commission (the “Report”), I, Eric I. Richman, Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to the best of my knowledge:

 

1.   The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934.
     
2.   The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

 

/s/ Eric I. Richman  
Name: Eric I. Richman
Title: Chief Executive Officer
May 8, 2014

 

A signed original of this written statement required by Section 906 of the Sarbanes-Oxley Act of 2002 has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

 

This certification is being furnished pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liability of that section.  This certification will not be deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934.

  

 

 

 EX-32.2 5 v376166_ex32-2.htm EXHIBIT 32.2

 

Exhibit 32.2

 

Certification Pursuant to Section 1350 of Chapter 63

of Title 18 of the United States Code

 

In connection with the Quarterly Report on Form 10-Q of PharmAthene, Inc. (the “Company”) for the period ended March 31, 2014, as filed with the Securities and Exchange Commission (the “Report”), I, Linda L. Chang, Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to the best of my knowledge:

 

1.   The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934.
       
2.   The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

 

/s/ Linda L. Chang  
Name: Linda L. Chang  
Title: Chief Financial Officer  
May 8, 2014  

 

A signed original of this written statement required by Section 906 of the Sarbanes-Oxley Act of 2002 has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

 

This certification is being furnished pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liability of that section.  This certification will not be deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934.

 

 

 

 

 

 

 EX-101.INS 6 pip-20140331.xml XBRL INSTANCE DOCUMENT false --12-31 Q1 2014 2014-03-31 10-Q 0001326190 54476138 Accelerated Filer PHARMATHENE, INC PIP 1929379 3182687 0.015 1600000 P10Y P3M 2009-03-01 2010-04-01 2010-07-01 2011-06-01 2007-03-01 2009-07-01 2012-03-30 0.03 2400000 0.03 0.85 0.8 1500004 0.02 15000000 40000000 200000 200000 0.01 0.01 0.5 2500000 4800000 6000000 0.12 P10Y 2015-01-28 2014-09-01 2015-10-01 2017-01-01 2016-06-01 2017-03-01 2015-01-01 2022-03-01 46584 471803 1128172 -219367 -218710 <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> <strong>Note 6 - Financing Transactions</strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> <em>Controlled Equity Offering</em></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> On March 25, 2013, we entered into a controlled equity offering arrangement with a sales agent pursuant to which we may offer and sell, from time to time, through the agent shares of our common stock having an aggregate offering price of up to $15.0 million. Under the arrangement, the agent may sell shares by any method permitted by law and deemed to be an "at-the-market" offering as defined in Rule 415 promulgated under the Securities Act of 1933, as amended, including sales made directly on NYSE MKT, or any other existing trading market for our common stock or to or through a market maker. Subject to the terms and conditions of that agreement, the agent will use commercially reasonable efforts, consistent with its normal trading and sales practices and applicable state and federal law, rules and regulations and the rules of NYSE MKT, to sell shares from time to time based upon our instructions. We are not obligated to sell any shares under the arrangement. We are obligated to pay the agent a commission of 3.0% of the aggregate gross proceeds from each sale of shares under the arrangement.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> For the three month period ending March 31, 2014, we sold 1,324,553 shares of our common stock under this arrangement resulting in net proceeds (net of commission) to the Company of approximately $2.5 million. As of March 31, 2014, aggregate gross sales for additional common stock of approximately $6.0 million remained available under the arrangement.&nbsp; See (Note 7 - <em>Subsequent Events</em>) for additional details. &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> <em>Loan Agreement with GE Capital</em></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> On March 30, 2012, we entered into a Loan Agreement with GE Capital. The Loan Agreement provides for a senior secured debt facility including a $2.5 million term loan and a revolving line of credit of up to $5.0 million based on our outstanding qualified accounts receivable.&nbsp;On March 30, 2012, the term loan was funded for an aggregate amount of $2.5 million.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;&nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> Under the terms of the revolving line of credit, the Company may draw down from the revolving line of credit up to 85% of qualified billed accounts receivable and 80% of qualified unbilled accounts receivable. As of March 31, 2014, the total amount available to draw was approximately $0.9 million, of which none was drawn and outstanding.&nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;&nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> The fixed interest rate on the term loan is 10.14% per annum. The revolving line of credit has an adjustable interest rate based upon the 3-month London Interbank Offered Rate (LIBOR), with a floor of 1.5%, plus 5%. As of March 31, 2014, the interest rate was 6.5%. Both the term loan and the revolving line of credit mature in September 2015. Payments on the term loan were originally interest-only for the first 10 months (which was extended to 12 months pursuant to terms of the agreement); subsequently, the term loan began fully amortizing over its remaining term. Remaining principal payments on the term loan are scheduled as follows:&nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <table style="WIDTH: 60%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0" align="center"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> Year</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" colspan="2">Principal Payments</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 70%; TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 5.4pt; font-size-adjust: none; font-stretch: normal"> 2014</td> <td style="WIDTH: 10%; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="WIDTH: 4%; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="WIDTH: 15%; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 749,997</td> <td style="WIDTH: 1%; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 5.4pt; font-size-adjust: none; font-stretch: normal"> 2015</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 750,007</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: right; PADDING-LEFT: 5.4pt"> &nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 1,500,004</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> The term loan, net of discount of $14,620, is recorded on the 2014 condensed consolidated balance sheet, as follows:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <table style="WIDTH: 60%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0" align="center"> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 74%; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> Current portion of long-term debt</td> <td style="WIDTH: 6%; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="WIDTH: 4%; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="WIDTH: 15%; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 999,996</td> <td style="WIDTH: 1%; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> Long-term debt, less current portion</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 485,388</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 1,485,384</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> If we prepay the term loan and terminate the revolving line of credit prior to the scheduled maturity date, we are obligated to pay a prepayment premium equal to 2% of the then outstanding principal amount of the term loan. In addition, we are obligated to pay a final payment fee of 3% of the term loan balance. The final payment fee is being accrued and expensed over the term of the agreement, using the effective interest method and is included in other long-term liabilities on the condensed consolidated balance sheet.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> Our obligations under the Loan Agreement are collateralized by a security interest in substantially all of our assets. While the security interest does not, except in limited circumstances, cover our intellectual property, it does cover any proceeds received by us from the use or sale of our intellectual property.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> In connection with the Loan Agreement, we issued to GE Capital warrants to purchase 46,584 shares of the Company&#39;s common stock at an exercise price of $1.61 per share. The warrants are exercisable immediately and subject to customary and standard anti-dilution adjustments. The warrants are classified in equity and, as a result, the fair value of the warrants was charged to additional paid-in capital resulting in a debt discount at the date of issuance. The debt discount is being amortized over the term of the loan agreement using the effective interest method. Financing costs incurred in connection with this agreement are also being amortized over the term of the agreement using the effective interest method.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> We currently owe GE Capital an aggregate of approximately $1.5 million under the GE Loan Agreement.&nbsp; As a result of the receipt of the notice that we received from BARDA on April 4, 2014 advising us of its decision to de-scope the current SparVax<sup>&reg;</sup> anthrax vaccine contract through a partial termination for convenience (See Note 7 - <em>Subsequent Events</em>), and its subsequent communication, and any further communications that we may receive from BARDA in the future, GE Capital could assert that there has occurred an event of default under the GE Loan Agreement, which would allow GE Capital to terminate the commitment and the loans under the GE Loan Agreement and declare any or all of the obligations thereunder to be immediately due and payable. We have not received notice from GE Capital that an event of default has occurred.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> The Company determined that the fair value of the term loan approximated its carrying value as of March 31, 2014. The yield in a high yield bond index as of March 31, 2012 was compared to the fixed interest rate on the term loan.&nbsp; The change in the yield of the high yield bond index as of March 31, 2012 and March 31, 2014 was used to extrapolate a revised fixed interest rate on the term loan.&nbsp; The original fixed interest rate on the term loan and the revised fixed interest rate were used to compare the net present values of the amount to be repaid to GE Capital.&nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <!--EndFragment--></div> </div> 221125757 217877117 189917 88634 338961 239947 528878 328581 12600000 11600000 14374221 17139289 11586064 14339108 <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> <em>Basis of Presentation</em></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> Our unaudited condensed consolidated financial statements include the accounts of PharmAthene, Inc. and its wholly-owned subsidiaries. All significant intercompany transactions and balances have been eliminated in consolidation. Our unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States ("U.S. GAAP").&nbsp;&nbsp;In the opinion of management, the accompanying unaudited condensed consolidated financial statements include all adjustments, consisting of normal recurring adjustments, which are necessary to present fairly our financial position, results of operations and cash flows.&nbsp;&nbsp;The unaudited condensed consolidated balance sheet at December 31, 2013 has been derived from audited consolidated financial statements at that date.&nbsp;&nbsp;Interest income in the prior year has been reclassified and is now included in interest income and expense, net on the unaudited condensed consolidated statements of operations to conform with current year&#39;s presentation. The interim results of operations are not necessarily indicative of the results that may occur for the full fiscal year.&nbsp;&nbsp; Certain information and footnote disclosure normally included in the financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to instructions, rules and regulations prescribed by the U.S. Securities and Exchange Commission.&nbsp;We believe that the disclosures provided herein are adequate to make the information presented not misleading when these unaudited condensed consolidated financial statements are read in conjunction with the Consolidated Financial Statements and Notes included in our Annual Report on Form 10-K for the year ended December&nbsp;31, 2013, filed with the Securities and Exchange Commission. We currently operate in one business segment.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <!--EndFragment--></div> </div> 1427113 9534720 10480979 12873411 12701517 -946259 171894 <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> <em>Cash and Cash Equivalents</em></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> Cash and cash equivalents are stated at market value.&nbsp;&nbsp;We consider all highly liquid investments with original maturities of three months or less to be cash equivalents, which, among other things, consist of investments in money market funds with financial institutions. The Company maintains cash balances with financial institutions in excess of insured limits. The Company does not anticipate any losses on such cash balances.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <!--EndFragment--></div> </div> 1.61 3.00 1.89 1.63 3.50 3.97 2.50 1.61 5620128 5620128 705354 500000 1323214 371423 100778 2572775 46584 2899991 2899991 <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> <strong>Note 4 - Commitments and Contingencies</strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> <em>SIGA Litigation</em></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> In December 2006, we filed a complaint against SIGA Technologies, Inc. ("SIGA") in the Delaware Court of Chancery.&nbsp;&nbsp;The complaint alleged, among other things, that we have the right to license exclusively development and marketing rights for SIGA&#39;s drug candidate, Arestvyr&trade; (Tecovirimat), pursuant to a merger agreement between the parties that was terminated in 2006.&nbsp;&nbsp;The complaint also alleged that SIGA failed to negotiate in good faith the terms of such a license pursuant to the terminated merger agreement.&nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> In September 2011, the Court issued an opinion in the case finding that SIGA had breached certain contractual obligations to us and upholding our claims of promissory estoppel.&nbsp;&nbsp;The Court awarded us&nbsp;the right to receive&nbsp;50% of all net profits (as defined in the court&#39;s final judgment) related to the sale of Arestvyr&trade; and related products for 10 years following initial commercial sale of the drug once SIGA earns $40 million in net profits from the sale of Arestvyr&trade; and related products. &nbsp;The Court also awarded us one-third of our reasonable attorney&#39;s fees and expert witness fees, which amounts to approximately $2.4 million plus interest. In May 2012, the Court issued its final judgment. SIGA appealed aspects of the decision to the Delaware Supreme Court. In response, we cross-appealed other aspects of the decision.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> In May 2013, the Delaware Supreme Court issued its ruling on the appeal, affirming the Delaware Court of Chancery&#39;s finding that SIGA had breached certain contractual obligations to us, reversing its finding of promissory estoppel, and remanding the case back to the Delaware Court of Chancery to reconsider the remedy and award of attorney&#39;s fees and expert witness and other costs in light of the Delaware Supreme Court&#39;s opinion. The Delaware Court of Chancery heard final oral arguments on the issue of remedy during the first quarter of 2014, and we expect the court to issue its ruling within the next several months. Currently, because the Delaware Supreme Court remanded the issue of a remedy back to the Delaware Court of Chancery, we no longer have a financial interest in Arestvyr<sup>TM</sup> and may never receive any proceeds from the product.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> While we believe there may be significant revenue potential under a potential damages award, there can be no assurance that the Delaware Court of Chancery will re-instate its prior remedy or order another remedy for us, that SIGA will not appeal any subsequent decision by the Delaware Court of Chancery, or that SIGA will not be successful in any subsequent appeal. We have not yet recorded any amount due from SIGA in relation to this case.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;&nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> <em>Government Contracting</em></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> Payments to the Company on cost-plus-fee contracts are provisional. The accuracy and appropriateness of costs charged to U.S. Government contracts are subject to regulation, audit and possible disallowance by the Defense Contract Audit Agency, or DCAA, and other government agencies such as BARDA. Accordingly, costs billed or billable to U.S. Government customers are subject to potential adjustment upon audit by such agencies. In our opinion, adjustments that may result from audits are not expected to have a material effect on our financial position, results of operations, or cash flows.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> <em>Registration Rights Agreements</em></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> We entered into a Registration Rights Agreement with the investors who participated in the July 2009 private placement of convertible notes and related warrants.&nbsp;&nbsp;We subsequently filed two registration statements on Form S-3 with the Securities and Exchange Commission to register the shares underlying the convertible notes and related warrants, which registration statements have been declared effective. We are obligated to maintain the registration statements effective until the date when all shares underlying the convertible notes and related warrants (and any other securities issued or issuable with respect to in exchange for such shares) have been sold. The convertible notes were converted or extinguished in 2010, although the related warrants remain outstanding. The warrants will expire on January 28, 2015.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> We have separate registration rights agreements with investors, under which we have obligations to keep the corresponding registration statements effective until the registrable securities (as defined in each agreement) have been sold, and under which we may have separate obligations to file registration statements in the future on either a demand or "piggy-back" basis or both.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> Under the terms of the convertible notes, which were converted or extinguished in 2010, if after the 2nd consecutive business day (other than during an allowable blackout period) on which sales of all of the securities required to be included on the registration statement cannot be made pursuant to the registration statement (a "Maintenance Failure"), we will be required to pay to each selling stockholder a one-time payment of 1.0% of the aggregate principal amount of the convertible notes relating to the affected shares on the initial day of a Maintenance Failure. Our total maximum obligation under this provision at March 31, 2014, which is not probable of payment, would be approximately $0.2 million.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> Following a Maintenance Failure, we will also be required to make to each selling stockholder monthly payments of 1.0% of the aggregate principal amount of the convertible notes relating to the affected shares on every 30th day after the initial day of a Maintenance Failure, in each case prorated for shorter periods and until the failure is cured. Our total maximum obligation under this provision, which is not probable of payment, would be approximately $0.2 million for each month until the failure, if it occurs, is cured.&nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <!--EndFragment--></div> </div> 3500000 4600000 0.0001 0.0001 100000000 100000000 53773705 52304426 53773705 52304426 5377 5230 3742525 6475138 29705 9743 0.05 2500000 0.065 0.1014 14620 <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> <em>Revolving Line of Credit and Term Loan</em></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> As discussed further in Note 6- <em>Financing Transactions</em>, we entered into a loan agreement with General Electric Capital Corporation ("GE Capital") in March 2012. As part of that agreement, we issued stock purchase warrants to GE Capital that expire in March 2022. The fair value of the warrants was charged to additional paid-in-capital, resulting in a debt discount to the Term Loan at the date of issuance. The debt discount and the financing costs, incurred in connection with the agreement, are being amortized over the term of the loan using the effective interest method and are included in interest expense in the unaudited condensed consolidated statements of operations.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 9pt; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <!--EndFragment--></div> </div> 29705 9743 62261 341723 39939 52602 6428787 7928807 6428787 7928807 2018 51663 1497594 1740235 2201390 1295613 1497594 1740235 2018 51663 2018 51663 1495576 1688572 1495576 1688572 -0.04 -0.04 <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <em>Basic and Diluted Net Loss Per Share</em></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <em>Income (loss) per share:</em>&nbsp;Basic income (loss) per share is computed by dividing consolidated net income (loss) by the weighted average number of common shares outstanding during the period, excluding unvested restricted stock.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> For periods of net income when the effects are not anti-dilutive, diluted earnings per share is computed by dividing our net income by the weighted average number of shares outstanding and the impact of all potential dilutive common shares, consisting&nbsp;&nbsp;primarily of stock options, unvested restricted stock and stock purchase warrants.&nbsp;&nbsp;The dilutive impact of our dilutive potential common shares resulting from stock options and stock purchase warrants is determined by applying the treasury stock method.&nbsp;&nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> For periods of net loss, diluted loss per share is calculated similarly to basic loss per share because the impact of all dilutive potential common shares is anti-dilutive due to the net losses. A total of approximately 12.6 million and 11.6 million potential dilutive securities have been excluded in the calculation of diluted net loss per share in the three months ended March 31, 2014 and 2013, respectively, because their inclusion would be anti-dilutive.</p> <!--EndFragment--></div> </div> -590 -2678 2300000 P2Y9M18D <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> <strong>Note 3 - Fair Value Measurements</strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> We define fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date.&nbsp;&nbsp;We report assets and liabilities that are measured at fair value using a three-level fair value hierarchy that prioritizes the inputs used to measure fair value.&nbsp;&nbsp;This hierarchy maximizes the use of observable inputs and minimizes the use of unobservable inputs.&nbsp;&nbsp;The three levels of inputs used to measure fair value are as follows:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 2%; PADDING-RIGHT: 0.8pt">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal; PADDING-RIGHT: 0.8pt; WIDTH: 2%"> &middot;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal; PADDING-RIGHT: 0.8pt; WIDTH: 96%"> Level 1 - Quoted prices in active markets for identical assets or liabilities.</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 1.5pt; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 2%; PADDING-RIGHT: 0.8pt">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal; PADDING-RIGHT: 0.8pt; WIDTH: 2%"> &middot;</td> <td style="WIDTH: 96%"> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0.8pt 0pt 0px; font-size-adjust: none; font-stretch: normal"> Level 2 - Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0.8pt 0pt 0px; font-size-adjust: none; font-stretch: normal"> assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0.8pt 0pt 0px; font-size-adjust: none; font-stretch: normal"> that are not active; or other inputs that are observable or can be corroborated by observable market data.</p> </td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 1.5pt; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 2%; PADDING-RIGHT: 0.8pt">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal; PADDING-RIGHT: 0.8pt; WIDTH: 2%"> &middot;</td> <td style="WIDTH: 96%"> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0.8pt 0pt 0px; font-size-adjust: none; font-stretch: normal"> Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0.8pt 0pt 0px; font-size-adjust: none; font-stretch: normal"> the fair value of the assets or liabilities.&nbsp;&nbsp;This includes certain pricing models, discounted cash flow methodologies</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0.8pt 0pt 0px; font-size-adjust: none; font-stretch: normal"> and similar techniques that use significant unobservable inputs.</p> </td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> An asset&#39;s or liability&#39;s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement.&nbsp;&nbsp;At each reporting period, we perform a detailed analysis of our assets and liabilities that are measured at fair value.&nbsp;&nbsp;All assets and liabilities for which the fair value measurement is based on significant unobservable inputs or instruments which trade infrequently and therefore have little or no price transparency are classified as Level 3.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> We have segregated our financial assets and liabilities that are measured at fair value into the most appropriate level within the fair value hierarchy based on the inputs used to determine the fair value at the measurement date in the table below.&nbsp; We have no non-financial assets and liabilities that are measured at fair value on a recurring basis.&nbsp;&nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> The following table represents the Company&#39;s fair value hierarchy for its financial assets and liabilities measured at fair value on a recurring basis:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" colspan="14">As&nbsp;of&nbsp;March 31,&nbsp;2014</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" colspan="2">Level 1</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" colspan="2">Level 2</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" colspan="2">Level 3</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" colspan="2">Balance</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT: bold 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> Assets</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="WIDTH: 44%; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> Investment in money market funds (1)</td> <td style="WIDTH: 2%; PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="WIDTH: 1%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="WIDTH: 10%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 6,428,787</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="WIDTH: 2%; PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="WIDTH: 1%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="WIDTH: 10%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> -</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="WIDTH: 2%; PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="WIDTH: 1%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="WIDTH: 10%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> -</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="WIDTH: 2%; PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="WIDTH: 1%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="WIDTH: 10%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 6,428,787</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> Total investment in money market funds</td> <td style="PADDING-BOTTOM: 2.5pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 6,428,787</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 6,428,787</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT: bold 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> Liabilities</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> Current portion of derivative instruments related to stock purchase warrants</td> <td style="FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> -</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> -</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 2,018</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 2,018</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> Non-current portion of derivative instruments related to stock purchase warrants</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 1,495,576</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 1,495,576</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> Total derivative instruments related to stock purchase warrants</td> <td style="PADDING-BOTTOM: 2.5pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 1,497,594</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 1,497,594</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> </tr> </table> <p style="MARGIN: 0px">&nbsp;</p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" colspan="14">As&nbsp;of&nbsp;December 31, 2013</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" colspan="2">Level 1</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" colspan="2">Level 2</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" colspan="2">Level 3</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" colspan="2">Balance</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT: bold 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> Assets</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="WIDTH: 44%; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> Investment in money market funds (1)</td> <td style="WIDTH: 2%; PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="WIDTH: 1%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="WIDTH: 10%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 7,928,807</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="WIDTH: 2%; PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="WIDTH: 1%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="WIDTH: 10%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> -</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="WIDTH: 2%; PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="WIDTH: 1%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="WIDTH: 10%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> -</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="WIDTH: 2%; PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="WIDTH: 1%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="WIDTH: 10%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 7,928,807</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> Total investment in money market funds</td> <td style="PADDING-BOTTOM: 2.5pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 7,928,807</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 7,928,807</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT: bold 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> Liabilities</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> Current portion of derivative instruments related to stock purchase warrants</td> <td style="FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> -</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> -</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 51,663</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 51,663</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> Non-current portion of derivative instruments related to stock purchase warrants</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 1,688,572</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 1,688,572</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> Total derivative instruments related to stock purchase warrants</td> <td style="PADDING-BOTTOM: 2.5pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 1,740,235</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 1,740,235</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> </tr> </table> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px">&nbsp;</p> <table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0" width="100%"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 0.25in">&nbsp;</td> <td style="WIDTH: 0.25in">(1)</td> <td>Included in cash and cash equivalents in accompanying condensed consolidated balance sheets.</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> As of March 31, 2014 and December 31, 2013, the Company did not have any transfers between Level 1 and Level 2 assets.</p> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt; font-size-adjust: none; font-stretch: normal"> The following table sets forth a summary of changes in the fair value of the Company&#39;s Level 3 liabilities for the three months ended March 31, 2014 and 2013:</p> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center" colspan="2"> Balance&nbsp;as&nbsp;of</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center" colspan="2"> Unrealized</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center" colspan="2"> Balance&nbsp;as&nbsp;of</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center" colspan="2"> December&nbsp;31,</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center" colspan="2"> (Gains)</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center" colspan="2">March 31,</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid"> Description</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">2013</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">2014</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">2014</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-SIZE: 10pt; WIDTH: 58%; TEXT-ALIGN: left"> Derivative liabilities related to stock purchase warrants</td> <td style="FONT-SIZE: 10pt; WIDTH: 2%">&nbsp;</td> <td style="FONT-SIZE: 10pt; WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="FONT-SIZE: 10pt; WIDTH: 10%; TEXT-ALIGN: right"> 1,740,235</td> <td style="FONT-SIZE: 10pt; WIDTH: 1%; TEXT-ALIGN: left"> &nbsp;</td> <td style="FONT-SIZE: 10pt; WIDTH: 2%">&nbsp;</td> <td style="FONT-SIZE: 10pt; WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="FONT-SIZE: 10pt; WIDTH: 10%; TEXT-ALIGN: right"> (242,641</td> <td style="FONT-SIZE: 10pt; WIDTH: 1%; TEXT-ALIGN: left">)</td> <td style="FONT-SIZE: 10pt; WIDTH: 2%">&nbsp;</td> <td style="FONT-SIZE: 10pt; WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="FONT-SIZE: 10pt; WIDTH: 10%; TEXT-ALIGN: right"> 1,497,594</td> <td style="FONT-SIZE: 10pt; WIDTH: 1%; TEXT-ALIGN: left"> &nbsp;</td> </tr> </table> <p style="MARGIN: 0px">&nbsp;</p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0"> <tr> <td style="FONT-SIZE: 10pt; WIDTH: 58%">&nbsp;</td> <td style="FONT-SIZE: 10pt; WIDTH: 2%">&nbsp;</td> <td style="FONT-SIZE: 10pt; WIDTH: 1%; TEXT-ALIGN: left"> &nbsp;</td> <td style="FONT-SIZE: 10pt; WIDTH: 10%; TEXT-ALIGN: center"> Balance&nbsp;as&nbsp;of</td> <td style="FONT-SIZE: 10pt; WIDTH: 1%; TEXT-ALIGN: center"> &nbsp;</td> <td style="FONT-SIZE: 10pt; WIDTH: 2%; TEXT-ALIGN: center"> &nbsp;</td> <td style="FONT-SIZE: 10pt; WIDTH: 1%; TEXT-ALIGN: center"> &nbsp;</td> <td style="FONT-SIZE: 10pt; WIDTH: 10%; TEXT-ALIGN: center"> Unrealized</td> <td style="FONT-SIZE: 10pt; WIDTH: 1%; TEXT-ALIGN: center"> &nbsp;</td> <td style="FONT-SIZE: 10pt; WIDTH: 2%; TEXT-ALIGN: center"> &nbsp;</td> <td style="FONT-SIZE: 10pt; WIDTH: 1%; TEXT-ALIGN: center"> &nbsp;</td> <td style="FONT-SIZE: 10pt; WIDTH: 10%; TEXT-ALIGN: center"> Balance&nbsp;as&nbsp;of</td> <td style="FONT-SIZE: 10pt; WIDTH: 1%; TEXT-ALIGN: center"> &nbsp;</td> </tr> <tr> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center"> December&nbsp;31,</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center">Losses</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center">March 31,</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center">&nbsp;</td> </tr> <tr> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 1pt"> Description</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center"> 2012</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt; TEXT-ALIGN: center"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt; TEXT-ALIGN: center"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center"> 2013</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt; TEXT-ALIGN: center"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt; TEXT-ALIGN: center"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center"> 2013</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt; TEXT-ALIGN: center"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Derivative liabilities related to stock purchase warrants</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,295,613</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">905,777</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,201,390</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> At March 31, 2014 and 2013, derivative liabilities are comprised of warrants to purchase 2,899,991 shares of common stock. The warrants are considered to be derivative liabilities due to the presence of net settlement features and/or non-standard anti-dilution provisions, and as a result, are recorded at fair value at each balance sheet date. The fair value of our warrants is determined based on the Black-Scholes option pricing model. Use of the Black-Scholes option pricing model requires the use of unobservable inputs such as the expected term, anticipated volatility and expected dividends. Changes in any of the assumptions related to the unobservable inputs identified above may change the stock purchase warrants&#39; fair value; increases in expected term, anticipated volatility and expected dividends generally result in increases in fair value, while decreases in the unobservable inputs generally result in decreases in fair value. Unrealized gains and losses on the fair value adjustments for these derivative instruments are classified in other income (expense) as the change in fair value of derivative instruments in our unaudited condensed consolidated statements of operations.</p> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> <em>Assets Measured at Fair Value on a Nonrecurring Basis</em></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> The Company measures its long-lived assets, including, property and equipment and goodwill, at fair value on a nonrecurring basis. These assets are recognized at fair value when they are deemed to be other-than-temporarily impaired. (See Note 2-<em>Summary of Significant</em> <em>Accounting Polices</em>). As of March 31, 2014, the Company had no other assets or liabilities that were measured at fair value on a nonrecurring basis.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <!--EndFragment--></div> </div> <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt"> The following table sets forth a summary of changes in the fair value of the Company&#39;s Level 3 liabilities for the three months ended March 31, 2014 and 2013:</p> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center" colspan="2"> Balance&nbsp;as&nbsp;of</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center" colspan="2"> Unrealized</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center" colspan="2"> Balance&nbsp;as&nbsp;of</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center" colspan="2"> December&nbsp;31,</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center" colspan="2"> (Gains)</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center" colspan="2">March 31,</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid"> Description</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">2013</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">2014</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">2014</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-SIZE: 10pt; WIDTH: 58%; TEXT-ALIGN: left"> Derivative liabilities related to stock purchase warrants</td> <td style="FONT-SIZE: 10pt; WIDTH: 2%">&nbsp;</td> <td style="FONT-SIZE: 10pt; WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="FONT-SIZE: 10pt; WIDTH: 10%; TEXT-ALIGN: right"> 1,740,235</td> <td style="FONT-SIZE: 10pt; WIDTH: 1%; TEXT-ALIGN: left"> &nbsp;</td> <td style="FONT-SIZE: 10pt; WIDTH: 2%">&nbsp;</td> <td style="FONT-SIZE: 10pt; WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="FONT-SIZE: 10pt; WIDTH: 10%; TEXT-ALIGN: right"> (242,641</td> <td style="FONT-SIZE: 10pt; WIDTH: 1%; TEXT-ALIGN: left">)</td> <td style="FONT-SIZE: 10pt; WIDTH: 2%">&nbsp;</td> <td style="FONT-SIZE: 10pt; WIDTH: 1%; TEXT-ALIGN: left">$</td> <td style="FONT-SIZE: 10pt; WIDTH: 10%; TEXT-ALIGN: right"> 1,497,594</td> <td style="FONT-SIZE: 10pt; WIDTH: 1%; TEXT-ALIGN: left"> &nbsp;</td> </tr> </table> <p style="MARGIN: 0px">&nbsp;</p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr> <td style="FONT-SIZE: 10pt; WIDTH: 58%">&nbsp;</td> <td style="FONT-SIZE: 10pt; WIDTH: 2%">&nbsp;</td> <td style="FONT-SIZE: 10pt; WIDTH: 1%; TEXT-ALIGN: left"> &nbsp;</td> <td style="FONT-SIZE: 10pt; WIDTH: 10%; TEXT-ALIGN: center"> Balance&nbsp;as&nbsp;of</td> <td style="FONT-SIZE: 10pt; WIDTH: 1%; TEXT-ALIGN: center"> &nbsp;</td> <td style="FONT-SIZE: 10pt; WIDTH: 2%; TEXT-ALIGN: center"> &nbsp;</td> <td style="FONT-SIZE: 10pt; WIDTH: 1%; TEXT-ALIGN: center"> &nbsp;</td> <td style="FONT-SIZE: 10pt; WIDTH: 10%; TEXT-ALIGN: center"> Unrealized</td> <td style="FONT-SIZE: 10pt; WIDTH: 1%; TEXT-ALIGN: center"> &nbsp;</td> <td style="FONT-SIZE: 10pt; WIDTH: 2%; TEXT-ALIGN: center"> &nbsp;</td> <td style="FONT-SIZE: 10pt; WIDTH: 1%; TEXT-ALIGN: center"> &nbsp;</td> <td style="FONT-SIZE: 10pt; WIDTH: 10%; TEXT-ALIGN: center"> Balance&nbsp;as&nbsp;of</td> <td style="FONT-SIZE: 10pt; WIDTH: 1%; TEXT-ALIGN: center"> &nbsp;</td> </tr> <tr> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center"> December&nbsp;31,</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center">Losses</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center">March 31,</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center">&nbsp;</td> </tr> <tr> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 1pt"> Description</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center"> 2012</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt; TEXT-ALIGN: center"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt; TEXT-ALIGN: center"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center"> 2013</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt; TEXT-ALIGN: center"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt; TEXT-ALIGN: center"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center"> 2013</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt; TEXT-ALIGN: center"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">Derivative liabilities related to stock purchase warrants</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">1,295,613</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">905,777</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">$</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">2,201,390</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <!--EndFragment--></div> </div> <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <em>Financial Instruments</em></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> Our financial instruments, and/or embedded features contained in those instruments, often are classified as derivative liabilities and are recorded at their fair values. The determination of fair value of these instrument and features requires estimates and judgments. Some of our stock purchase warrants are considered to be derivative liabilities due to the presence of net settlement features and/or non-standard anti-dilution provisions; the fair value of our warrants is determined based on the Black-Scholes option pricing model.&nbsp;&nbsp;Use of the Black-Scholes option-pricing model requires the use of unobservable inputs such as the expected term, anticipated volatility and expected dividends. See Note 3- <em>Fair Value Measurements</em> for further details.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <!--EndFragment--></div> </div> <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <em>Foreign Currency Translation</em></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> The functional currency of our wholly owned foreign subsidiaries is their local currency.&nbsp;&nbsp;Assets and liabilities of our foreign subsidiaries are translated into United States dollars based on exchange rates at the end of the reporting period.&nbsp;&nbsp;Income and expense items are translated at the weighted average exchange rates prevailing during the reporting period.&nbsp;Translation adjustments for subsidiaries that have not been sold, substantially liquidated or otherwise disposed of, are accumulated in other comprehensive loss, a component of stockholders&#39; equity. Foreign currency translation adjustments are the sole component of accumulated other comprehensive loss at March 31, 2014 and December 31, 2013. Transaction gains or losses are included in the determination of net loss.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <!--EndFragment--></div> </div> 5393 2677452 2279795 2348453 2348453 <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <em>Goodwill</em></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> <em>&nbsp;</em></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> Goodwill represents the excess of purchase price over the fair value of net identifiable assets associated with acquisitions. We review the recoverability of goodwill annually at the end of our fiscal year and whenever events or changes in circumstances indicate that it is more likely than not that impairment exists. Recoverability of goodwill is reviewed by comparing our market value (as measured by our stock price multiplied by the number of outstanding shares as of the end of the year) to the net book value of our equity. If our market value exceeds our net book value, no further analysis is required. We completed our annual impairment assessment of goodwill on December 31, 2013 and determined that there was no impairment as of that date. Changes in our business strategy or adverse changes in market conditions could impact the impairment analyses and require the recognition of an impairment charge equal to the excess of the carrying value over its estimated fair value.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <em>&nbsp;</em></p> <!--EndFragment--></div> </div> -2228735 -2101642 <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <em>Income Taxes</em></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> We account for income taxes using the asset and liability approach, which requires the recognition of future tax benefits or liabilities on the temporary differences between the financial reporting and tax bases of our assets and liabilities. A valuation allowance is established when necessary to reduce deferred tax assets to the amounts expected to be realized. We also recognize a tax benefit from uncertain tax positions only if it is "more likely than not" that the position is sustainable based on its technical merits. Our policy is to recognize interest and penalties on uncertain tax positions as a component of income tax expense.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> Income tax expense was $29,705 and $9,743 during the three months ended March 31, 2014 and 2013, respectively relating exclusively to the generation of a deferred tax liability associated with the tax amortization of goodwill, which is included as a component of other long-term liabilities on our consolidated balance sheets.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <!--EndFragment--></div> </div> -656373 -407653 -1427113 -566725 -1274906 950800 -279462 -507351 178704 -39486 -549629 -400645 -69872 -99008 43287 67360 6428787 7928807 6428787 7928807 6048819 9803577 14374221 17139289 3465457 6795981 900000 5000000 1485384 999996 999996 750007 749997 485388 730279 <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <em>Significant Customers and Accounts Receivable</em></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> Our primary customers are the Biomedical Advanced Research and Development Authority, or BARDA, and Chemical Biological Medical Systems, or CBMS. As of March 31, 2014 and December 31, 2013, the Company&#39;s receivable balances (both billed and unbilled) were comprised solely of receivables from BARDA. See Note 7 - <em>Subsequent Events</em> for further details on the status of our contract with BARDA.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <!--EndFragment--></div> </div> 1377445 -60361 -29050 -25468 -2294064 260401 -2258440 -2111385 <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <em>Recent Accounting Pronouncements</em></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> We have evaluated all Accounting Standards Updates through the date the unaudited condensed consolidated financial statements were issued and believe the adoption of these will not have a material impact on our results of operations, financial position, or cash flows.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <!--EndFragment--></div> </div> 173131 -1010908 1 6144391 7565872 -2401866 -1090734 <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>Note 1 - Business and Liquidity</strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> We are a biopharmaceutical company focused on developing biodefense countermeasure applications.&nbsp;&nbsp;We are subject to those risks associated with any biopharmaceutical company that has substantial expenditures for research and development.&nbsp;&nbsp;There can be no assurance that our research and development projects will be successful, that products developed will obtain necessary regulatory approval, or that any approved product will be commercially viable.&nbsp;&nbsp;In addition, we operate in an environment of rapid technological change and are largely dependent on the services and expertise of our employees, consultants and other third parties.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> Historically, we have performed under government contracts and grants and raised funds from investors (including additional equity and/or debt issued) to sustain our operations. The Company has spent and will continue to spend substantial funds in the research, development, clinical and preclinical testing in excess of revenues, to support the Company&#39;s product candidates with the goal of ultimately obtaining approval from the FDA, to market and sell our products. We have incurred losses in each year since inception, and have a retained deficit of $212.6 million. Our cash balance as of March 31, 2014 was $9.5 million, our accounts receivable (billed and unbilled) was $1.6 million, and our current liabilities were $3.5 million. The need to raise additional capital will depend on many factors, including, but not limited to, our future cash requirements, future contract funding, the ongoing proceedings in our litigation with SIGA (See Note 4 - <em>Commitments and Contingencies</em>), the timing, amount, and profitability of sales of ArestvyrTM, if any (including, potentially, the timing of SIGA&#39;s recognition of revenue related thereto) in the event the trial court awards us a remedy tied to sales or profits of that product, our ability to collect amounts due from SIGA in the event the Delaware Court of Chancery awards us a remedy tied to sales or profits of ArestvyrTM, the outcome of any appeal of any subsequent decision by the Delaware Court of Chancery to the Delaware Supreme Court and future funding required to develop SparVax<sup>&reg;</sup> in light of the notice the Company received from BARDA advising us of its decision to de-scope the current SparVax<sup>&reg;</sup> anthrax vaccine contract through a partial termination for convenience. There can be no assurance that we will be able to raise additional capital in the future.</p> <!--EndFragment--></div> </div> 59132 65660 -657 -1684 -2259097 -2113069 602398 588745 362 -6123 26591 32431 112500 37050 25468 401448 231491 2719184 53413 -1091740 -1274 -249999 8000 380572 386068 3427000 5233475 -212586365 -210327925 <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt"> &nbsp;<em>Revenue Recognition</em></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> <em>&nbsp;</em></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> We generate our revenue from different types of contractual arrangements: cost-plus-fee contracts and fixed price contracts.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 16.5pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> Revenues on cost-plus-fee contracts are recognized in an amount equal to the costs incurred during the period plus an estimate of the applicable fee earned. The estimate of the applicable fee earned is determined by reference to the contract: if the contract defines the fee in terms of risk-based milestones and specifies the fees to be earned upon the completion of each milestone, then the fee is recognized when the related milestones are earned, as further described below; otherwise, we estimate the fee earned in a given period by using a proportional performance method based on costs incurred during the period as compared to total estimated project costs and application of the resulting fraction to the total project fee specified in the contract.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> Under the milestone method of revenue recognition, milestone payments (including milestone payments for fees) contained in research and development arrangements are recognized as revenue when: (i) the milestones are achieved; (ii) no further performance obligations with respect to the milestone exist; (iii) collection is reasonably assured; and (iv) substantive effort was necessary to achieve the milestone.</p> <p style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> Milestones are considered substantive if all of the following conditions are met:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 16.5pt"> &nbsp;</p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 2%">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; WIDTH: 6%"> &bull;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; WIDTH: 92%">it is commensurate with either our performance to meet the milestone or the enhancement of the value of the delivered item or items as a result of a specific outcome resulting from our performance to achieve the milestone,</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 33pt; TEXT-INDENT: -16.5pt"> &nbsp;</p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 2%">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; WIDTH: 6%"> &bull;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; WIDTH: 92%">it relates solely to past performance, and</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 33pt; TEXT-INDENT: -16.5pt"> &nbsp;</p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 2%">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; WIDTH: 6%"> &bull;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; WIDTH: 92%"> the value of the milestone is reasonable relative to all the deliverables and payment terms (including other potential milestone consideration) within the arrangement.</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 16.5pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> If a milestone is deemed not to be substantive, the Company recognizes the portion of the milestone payment as revenue that correlates to work already performed using the proportional performance method; the remaining portion of the milestone payment is deferred and recognized as revenue as the Company completes its performance obligations.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 16.5pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> Revenue on fixed price contracts (without substantive milestones as described above) is recognized on the percentage-of-completion method. The percentage-of-completion method recognizes income as the contract progresses (generally related to the costs incurred in providing the services required under the contract). The use of the percentage-of-completion method depends on the ability to make reasonable dependable estimates and the fact that circumstances may necessitate frequent revision of estimates does not indicate that the estimates are unreliable for the purpose for which they are used.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 16.5pt"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> As a result of our revenue recognition policies and the billing provisions contained in our contracts, the timing of customer billings may differ from the timing of recognizing revenue. Amounts invoiced to customers in excess of revenue recognized are reflected on the balance sheet as deferred revenue. Amounts recognized as revenue in excess of amounts billed to customers are reflected on the balance sheet as unbilled accounts receivable.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> Upon notice of termination of a contract from the government, all related termination costs are expensed. If there is assurance that collection is reasonably assured, then revenue is taken as if the contract was a cost-plus-fee contract.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 16.5pt"> &nbsp;</p> <!--EndFragment--></div> </div> <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> The term loan, net of discount of $14,620, is recorded on the 2014 condensed consolidated balance sheet, as follows:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <table style="WIDTH: 60%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0" align="center"> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 74%; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> Current portion of long-term debt</td> <td style="WIDTH: 6%; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="WIDTH: 4%; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="WIDTH: 15%; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 999,996</td> <td style="WIDTH: 1%; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> Long-term debt, less current portion</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 485,388</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 1,485,384</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <!--EndFragment--></div> </div> <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> Share-based compensation expense for the three months ended March 31, 2014 and 2013 was:</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <table style="WIDTH: 85%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0" align="center"> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: bold 10pt Times New Roman, Times, Serif" colspan="6">Three months ended March 31,</td> <td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: bold 10pt Times New Roman, Times, Serif" colspan="2">2014</td> <td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: bold 10pt Times New Roman, Times, Serif" colspan="2">2013</td> <td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt" colspan="2">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt" colspan="2">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 72%; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"> Research and development</td> <td style="WIDTH: 2%; FONT: 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"> $</td> <td style="WIDTH: 10%; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif"> 189,917</td> <td style="WIDTH: 1%; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="WIDTH: 2%; FONT: 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"> $</td> <td style="WIDTH: 10%; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif"> 88,634</td> <td style="WIDTH: 1%; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"> General and administrative</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif"> 338,961</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif"> 239,947</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"> Total share-based compensation expense</td> <td style="PADDING-BOTTOM: 2.5pt; FONT: 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif"> 528,878</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; FONT: 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif"> 328,581</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"> &nbsp;</td> </tr> </table> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <!--EndFragment--></div> </div> <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> The following table represents the Company&#39;s fair value hierarchy for its financial assets and liabilities measured at fair value on a recurring basis:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" colspan="14">As&nbsp;of&nbsp;March 31,&nbsp;2014</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" colspan="2">Level 1</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" colspan="2">Level 2</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" colspan="2">Level 3</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" colspan="2">Balance</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT: bold 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> Assets</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="WIDTH: 44%; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> Investment in money market funds (1)</td> <td style="WIDTH: 2%; PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="WIDTH: 1%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="WIDTH: 10%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 6,428,787</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="WIDTH: 2%; PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="WIDTH: 1%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="WIDTH: 10%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> -</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="WIDTH: 2%; PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="WIDTH: 1%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="WIDTH: 10%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> -</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="WIDTH: 2%; PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="WIDTH: 1%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="WIDTH: 10%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 6,428,787</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> Total investment in money market funds</td> <td style="PADDING-BOTTOM: 2.5pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 6,428,787</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 6,428,787</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT: bold 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> Liabilities</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> Current portion of derivative instruments related to stock purchase warrants</td> <td style="FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> -</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> -</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 2,018</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 2,018</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> Non-current portion of derivative instruments related to stock purchase warrants</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 1,495,576</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 1,495,576</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> Total derivative instruments related to stock purchase warrants</td> <td style="PADDING-BOTTOM: 2.5pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 1,497,594</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 1,497,594</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> </tr> </table> <p style="MARGIN: 0px">&nbsp;</p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" colspan="14">As&nbsp;of&nbsp;December 31, 2013</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" colspan="2">Level 1</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" colspan="2">Level 2</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" colspan="2">Level 3</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" colspan="2">Balance</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT: bold 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> Assets</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="WIDTH: 44%; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> Investment in money market funds (1)</td> <td style="WIDTH: 2%; PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="WIDTH: 1%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="WIDTH: 10%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 7,928,807</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="WIDTH: 2%; PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="WIDTH: 1%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="WIDTH: 10%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> -</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="WIDTH: 2%; PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="WIDTH: 1%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="WIDTH: 10%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> -</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="WIDTH: 2%; PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="WIDTH: 1%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="WIDTH: 10%; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 7,928,807</td> <td style="WIDTH: 1%; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> Total investment in money market funds</td> <td style="PADDING-BOTTOM: 2.5pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 7,928,807</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 7,928,807</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT: bold 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> Liabilities</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> Current portion of derivative instruments related to stock purchase warrants</td> <td style="FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> -</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> -</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 51,663</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 51,663</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> Non-current portion of derivative instruments related to stock purchase warrants</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 1,688,572</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 1,688,572</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> Total derivative instruments related to stock purchase warrants</td> <td style="PADDING-BOTTOM: 2.5pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 1,740,235</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 1,740,235</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> </tr> </table> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px">&nbsp;</p> <table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0" width="100%"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 0.25in">&nbsp;</td> <td style="WIDTH: 0.25in">(1)</td> <td>Included in cash and cash equivalents in accompanying condensed consolidated balance sheets.</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> As of March 31, 2014 and December 31, 2013, the Company did not have any transfers between Level 1 and Level 2 assets.</p> <!--EndFragment--></div> </div> <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> Remaining principal payments on the term loan are scheduled as follows:&nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <table style="WIDTH: 60%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0" align="center"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> Year</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" colspan="2">Principal Payments</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 70%; TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 5.4pt; font-size-adjust: none; font-stretch: normal"> 2014</td> <td style="WIDTH: 10%; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="WIDTH: 4%; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="WIDTH: 15%; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 749,997</td> <td style="WIDTH: 1%; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 5.4pt; font-size-adjust: none; font-stretch: normal"> 2015</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 750,007</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: right; PADDING-LEFT: 5.4pt"> &nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 1,500,004</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <!--EndFragment--></div> </div> <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> At March 31, 2014 and 2013 there were warrants outstanding to purchase 5,620,128 shares of our common stock, respectively. The warrants outstanding as of March 31, 2014 and 2013 were as follows, and all are exercisable:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" colspan="2">Number of Common Shares Underlying Warrants</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> Issue Date</td> <td style="VERTICAL-ALIGN: middle; PADDING-BOTTOM: 1pt; TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" colspan="2">Exercise Price</td> <td style="VERTICAL-ALIGN: middle; PADDING-BOTTOM: 1pt; TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="VERTICAL-ALIGN: middle; PADDING-BOTTOM: 1pt; TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> Expiration Date</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 1%; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="WIDTH: 23%; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 100,778</td> <td style="WIDTH: 1%; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="WIDTH: 10%; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> (1)</td> <td style="WIDTH: 2%; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="WIDTH: 20%; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 5.4pt; TEXT-INDENT: 10pt; font-size-adjust: none; font-stretch: normal"> March 2007</td> <td style="WIDTH: 2%; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="WIDTH: 15%; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 3.97</td> <td style="WIDTH: 1%; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="WIDTH: 2%; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="WIDTH: 20%; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 5.4pt; TEXT-INDENT: 10pt; font-size-adjust: none; font-stretch: normal"> March 2017</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 705,354</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> (2)</td> <td style="FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 5.4pt; TEXT-INDENT: 10pt; font-size-adjust: none; font-stretch: normal"> March 2009</td> <td style="FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 3.00</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 5.4pt; TEXT-INDENT: 10pt; font-size-adjust: none; font-stretch: normal"> September 2014</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 2,572,775</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> (1)</td> <td style="FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 5.4pt; TEXT-INDENT: 10pt; font-size-adjust: none; font-stretch: normal"> July 2009</td> <td style="FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 2.50</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 5.4pt; TEXT-INDENT: 10pt; font-size-adjust: none; font-stretch: normal"> January 2015</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 500,000</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> (2)</td> <td style="FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 5.4pt; TEXT-INDENT: 10pt; font-size-adjust: none; font-stretch: normal"> April 2010</td> <td style="FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 1.89</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 5.4pt; TEXT-INDENT: 10pt; font-size-adjust: none; font-stretch: normal"> October 2015</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 1,323,214</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> (2)</td> <td style="FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 5.4pt; TEXT-INDENT: 10pt; font-size-adjust: none; font-stretch: normal"> July 2010</td> <td style="FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 1.63</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 5.4pt; TEXT-INDENT: 10pt; font-size-adjust: none; font-stretch: normal"> January 2017</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 371,423</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> (2)</td> <td style="FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 5.4pt; TEXT-INDENT: 10pt; font-size-adjust: none; font-stretch: normal"> June 2011</td> <td style="FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 3.50</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 5.4pt; TEXT-INDENT: 10pt; font-size-adjust: none; font-stretch: normal"> June 2016</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 46,584</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> (1)</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 5.4pt; TEXT-INDENT: 10pt; font-size-adjust: none; font-stretch: normal"> March 2012</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 1.61</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 5.4pt; TEXT-INDENT: 10pt; font-size-adjust: none; font-stretch: normal"> March 2022</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 5,620,128</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 5.4pt"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 5.4pt"> &nbsp;</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 3%; PADDING-RIGHT: 0.8pt">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal; PADDING-RIGHT: 0.8pt; WIDTH: 5%"> (1)</td> <td style="FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal; PADDING-RIGHT: 0.8pt; WIDTH: 92%"> These warrants to purchase common stock are classified as equity.</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 3%; PADDING-RIGHT: 0.8pt">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal; PADDING-RIGHT: 0.8pt; WIDTH: 5%"> (2)</td> <td style="FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal; PADDING-RIGHT: 0.8pt; WIDTH: 92%"> These warrants to purchase common stock are classified as derivative liabilities. The fair value of these liabilities (See Note 3 - <em>Fair Value Measurements</em>) is remeasured at the end of every reporting period and the change in fair value is reported in the unaudited condensed consolidated statements of operations as other income (expense).</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <!--EndFragment--></div> </div> 528878 328581 10300000 2500000 1217755 60000 <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> <em>Share-Based Compensation</em></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> We expense the estimated fair value of share-based awards granted to employees under our stock compensation plans. The fair value of stock options is determined at the grant date using the Black-Scholes option pricing model. The Black-Scholes model considers, among other factors, the expected life of the award and the expected volatility of our stock price. The value of the award that is ultimately expected to vest is recognized as expense on a straight line basis over the employee&#39;s requisite service period.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> The fair value of restricted stock grants is determined based on the closing price of our common stock on the award date and is recognized as expense ratably over the requisite service period.&nbsp;&nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> Employee share-based compensation expense recognized in the three months ended March 31, 2014 and 2013 was calculated based on awards ultimately expected to vest and has been reduced for estimated forfeitures at a rate of approximately 12%, based on historical forfeitures.&nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> Share-based compensation expense for the three months ended March 31, 2014 and 2013 was:</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <table style="WIDTH: 85%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0" align="center"> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: bold 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" colspan="6">Three months ended March 31,</td> <td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: bold 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" colspan="2">2014</td> <td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: bold 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" colspan="2">2013</td> <td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt" colspan="2">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt" colspan="2">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 72%; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> Research and development</td> <td style="WIDTH: 2%; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="WIDTH: 10%; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 189,917</td> <td style="WIDTH: 1%; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="WIDTH: 2%; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="WIDTH: 10%; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 88,634</td> <td style="WIDTH: 1%; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> General and administrative</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 338,961</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 239,947</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> Total share-based compensation expense</td> <td style="PADDING-BOTTOM: 2.5pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 528,878</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 328,581</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> </tr> </table> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> During the three months ended March 31, 2014, we granted 1,217,755 options to employees and consultants and made no restricted stock grants.&nbsp; During the three months ended March 31, 2013, we granted 60,000 options to employees and made no restricted stock grants.&nbsp; At March 31, 2014, we had total unrecognized share-based compensation expense related to unvested awards of approximately $2.3 million net of estimated forfeitures, which we expect to recognize as expense over a weighted-average period of 2.8 years.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <!--EndFragment--></div> </div> 1091740 <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> <strong>Note 2 - Summary of Significant Accounting Policies</strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> <em>Basis of Presentation</em></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> Our unaudited condensed consolidated financial statements include the accounts of PharmAthene, Inc. and its wholly-owned subsidiaries. All significant intercompany transactions and balances have been eliminated in consolidation. Our unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States ("U.S. GAAP").&nbsp;&nbsp;In the opinion of management, the accompanying unaudited condensed consolidated financial statements include all adjustments, consisting of normal recurring adjustments, which are necessary to present fairly our financial position, results of operations and cash flows.&nbsp;&nbsp;The unaudited condensed consolidated balance sheet at December 31, 2013 has been derived from audited consolidated financial statements at that date.&nbsp;&nbsp;Interest income in the prior year has been reclassified and is now included in interest income and expense, net on the unaudited condensed consolidated statements of operations to conform with current year&#39;s presentation. The interim results of operations are not necessarily indicative of the results that may occur for the full fiscal year.&nbsp;&nbsp; Certain information and footnote disclosure normally included in the financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to instructions, rules and regulations prescribed by the U.S. Securities and Exchange Commission.&nbsp;We believe that the disclosures provided herein are adequate to make the information presented not misleading when these unaudited condensed consolidated financial statements are read in conjunction with the Consolidated Financial Statements and Notes included in our Annual Report on Form 10-K for the year ended December&nbsp;31, 2013, filed with the Securities and Exchange Commission. We currently operate in one business segment.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> <em>Use of Estimates</em></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period.&nbsp;&nbsp;Our unaudited condensed consolidated financial statements include significant estimates for our share-based compensation and the value of our financial instruments, among other things. Because of the use of estimates inherent in the financial reporting process, actual results could differ significantly from those estimates.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> <em>&nbsp;</em></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> <em>Foreign Currency Translation</em></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> The functional currency of our wholly owned foreign subsidiaries is their local currency.&nbsp;&nbsp;Assets and liabilities of our foreign subsidiaries are translated into United States dollars based on exchange rates at the end of the reporting period.&nbsp;&nbsp;Income and expense items are translated at the weighted average exchange rates prevailing during the reporting period.&nbsp;Translation adjustments for subsidiaries that have not been sold, substantially liquidated or otherwise disposed of, are accumulated in other comprehensive loss, a component of stockholders&#39; equity. Foreign currency translation adjustments are the sole component of accumulated other comprehensive loss at March 31, 2014 and December 31, 2013. Transaction gains or losses are included in the determination of net loss.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> <em>Cash and Cash Equivalents</em></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> Cash and cash equivalents are stated at market value.&nbsp;&nbsp;We consider all highly liquid investments with original maturities of three months or less to be cash equivalents, which, among other things, consist of investments in money market funds with financial institutions. The Company maintains cash balances with financial institutions in excess of insured limits. The Company does not anticipate any losses on such cash balances.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> <em>Revolving Line of Credit and Term Loan</em></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> As discussed further in Note 6- <em>Financing Transactions</em>, we entered into a loan agreement with General Electric Capital Corporation ("GE Capital") in March 2012. As part of that agreement, we issued stock purchase warrants to GE Capital that expire in March 2022. The fair value of the warrants was charged to additional paid-in-capital, resulting in a debt discount to the Term Loan at the date of issuance. The debt discount and the financing costs, incurred in connection with the agreement, are being amortized over the term of the loan using the effective interest method and are included in interest expense in the unaudited condensed consolidated statements of operations.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 9pt; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> <em>Significant Customers and Accounts Receivable</em></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> Our primary customers are the Biomedical Advanced Research and Development Authority, or BARDA, and Chemical Biological Medical Systems, or CBMS. As of March 31, 2014 and December 31, 2013, the Company&#39;s receivable balances (both billed and unbilled) were comprised solely of receivables from BARDA. See Note 7 - <em>Subsequent Events</em> for further details on the status of our contract with BARDA.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> <em>Goodwill</em></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> <em>&nbsp;</em></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> Goodwill represents the excess of purchase price over the fair value of net identifiable assets associated with acquisitions. We review the recoverability of goodwill annually at the end of our fiscal year and whenever events or changes in circumstances indicate that it is more likely than not that impairment exists. Recoverability of goodwill is reviewed by comparing our market value (as measured by our stock price multiplied by the number of outstanding shares as of the end of the year) to the net book value of our equity. If our market value exceeds our net book value, no further analysis is required. We completed our annual impairment assessment of goodwill on December 31, 2013 and determined that there was no impairment as of that date. Changes in our business strategy or adverse changes in market conditions could impact the impairment analyses and require the recognition of an impairment charge equal to the excess of the carrying value over its estimated fair value.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> <em>&nbsp;</em></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> <em>Financial Instruments</em></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> Our financial instruments, and/or embedded features contained in those instruments, often are classified as derivative liabilities and are recorded at their fair values. The determination of fair value of these instrument and features requires estimates and judgments. Some of our stock purchase warrants are considered to be derivative liabilities due to the presence of net settlement features and/or non-standard anti-dilution provisions; the fair value of our warrants is determined based on the Black-Scholes option pricing model.&nbsp;&nbsp;Use of the Black-Scholes option pricing model requires the use of unobservable inputs such as the expected term, anticipated volatility and expected dividends. See Note 3- <em>Fair Value Measurements</em> for further details.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt; font-size-adjust: none; font-stretch: normal"> &nbsp;<em>Revenue Recognition</em></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> <em>&nbsp;</em></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> We generate our revenue from different types of contractual arrangements: cost-plus-fee contracts and fixed price contracts.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 16.5pt; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> Revenues on cost-plus-fee contracts are recognized in an amount equal to the costs incurred during the period plus an estimate of the applicable fee earned. The estimate of the applicable fee earned is determined by reference to the contract: if the contract defines the fee in terms of risk-based milestones and specifies the fees to be earned upon the completion of each milestone, then the fee is recognized when the related milestones are earned, as further described below; otherwise, we estimate the fee earned in a given period by using a proportional performance method based on costs incurred during the period as compared to total estimated project costs and application of the resulting fraction to the total project fee specified in the contract.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> Under the milestone method of revenue recognition, milestone payments (including milestone payments for fees) contained in research and development arrangements are recognized as revenue when: (i) the milestones are achieved; (ii) no further performance obligations with respect to the milestone exist; (iii) collection is reasonably assured; and (iv) substantive effort was necessary to achieve the milestone.</p> <p style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> Milestones are considered substantive if all of the following conditions are met:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 16.5pt; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 2%">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal; WIDTH: 6%"> &bull;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal; WIDTH: 92%"> it is commensurate with either our performance to meet the milestone or the enhancement of the value of the delivered item or items as a result of a specific outcome resulting from our performance to achieve the milestone,</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 33pt; TEXT-INDENT: -16.5pt; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 2%">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal; WIDTH: 6%"> &bull;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal; WIDTH: 92%"> it relates solely to past performance, and</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 33pt; TEXT-INDENT: -16.5pt; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 2%">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal; WIDTH: 6%"> &bull;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal; WIDTH: 92%"> the value of the milestone is reasonable relative to all the deliverables and payment terms (including other potential milestone consideration) within the arrangement.</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 16.5pt; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> If a milestone is deemed not to be substantive, the Company recognizes the portion of the milestone payment as revenue that correlates to work already performed using the proportional performance method; the remaining portion of the milestone payment is deferred and recognized as revenue as the Company completes its performance obligations.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 16.5pt; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> Revenue on fixed price contracts (without substantive milestones as described above) is recognized on the percentage-of-completion method. The percentage-of-completion method recognizes income as the contract progresses (generally related to the costs incurred in providing the services required under the contract). The use of the percentage-of-completion method depends on the ability to make reasonable dependable estimates and the fact that circumstances may necessitate frequent revision of estimates does not indicate that the estimates are unreliable for the purpose for which they are used.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 16.5pt; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> As a result of our revenue recognition policies and the billing provisions contained in our contracts, the timing of customer billings may differ from the timing of recognizing revenue. Amounts invoiced to customers in excess of revenue recognized are reflected on the balance sheet as deferred revenue. Amounts recognized as revenue in excess of amounts billed to customers are reflected on the balance sheet as unbilled accounts receivable.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> Upon notice of termination of a contract from the government, all related termination costs are expensed. If there is assurance that collection is reasonably assured, then revenue is taken as if the contract was a cost-plus-fee contract.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 16.5pt; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> <em>Share-Based Compensation</em></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> We expense the estimated fair value of share-based awards granted to employees under our stock compensation plans. The fair value of stock options is determined at the grant date using the Black-Scholes option pricing model. The Black-Scholes model considers, among other factors, the expected life of the award and the expected volatility of our stock price. The value of the award that is ultimately expected to vest is recognized as expense on a straight line basis over the employee&#39;s requisite service period.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> The fair value of restricted stock grants is determined based on the closing price of our common stock on the award date and is recognized as expense ratably over the requisite service period.&nbsp;&nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> Employee share-based compensation expense recognized in the three months ended March 31, 2014 and 2013 was calculated based on awards ultimately expected to vest and has been reduced for estimated forfeitures at a rate of approximately 12%, based on historical forfeitures.&nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> Share-based compensation expense for the three months ended March 31, 2014 and 2013 was:</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <table style="WIDTH: 85%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0" align="center"> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: bold 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" colspan="6">Three months ended March 31,</td> <td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: bold 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" colspan="2">2014</td> <td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: bold 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" colspan="2">2013</td> <td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt" colspan="2">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="FONT-SIZE: 10pt" colspan="2">&nbsp;</td> <td style="FONT-SIZE: 10pt">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 72%; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> Research and development</td> <td style="WIDTH: 2%; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="WIDTH: 10%; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 189,917</td> <td style="WIDTH: 1%; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="WIDTH: 2%; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="WIDTH: 10%; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 88,634</td> <td style="WIDTH: 1%; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> General and administrative</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 338,961</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 239,947</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> Total share-based compensation expense</td> <td style="PADDING-BOTTOM: 2.5pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 528,878</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> 328,581</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> </tr> </table> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> During the three months ended March 31, 2014, we granted 1,217,755 options to employees and consultants and made no restricted stock grants.&nbsp; During the three months ended March 31, 2013, we granted 60,000 options to employees and made no restricted stock grants.&nbsp; At March 31, 2014, we had total unrecognized share-based compensation expense related to unvested awards of approximately $2.3 million net of estimated forfeitures, which we expect to recognize as expense over a weighted-average period of 2.8 years.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> <em>Income Taxes</em></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> We account for income taxes using the asset and liability approach, which requires the recognition of future tax benefits or liabilities on the temporary differences between the financial reporting and tax bases of our assets and liabilities. A valuation allowance is established when necessary to reduce deferred tax assets to the amounts expected to be realized. We also recognize a tax benefit from uncertain tax positions only if it is "more likely than not" that the position is sustainable based on its technical merits. Our policy is to recognize interest and penalties on uncertain tax positions as a component of income tax expense.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> Income tax expense was $29,705 and $9,743 during the three months ended March 31, 2014 and 2013, respectively relating exclusively to the generation of a deferred tax liability associated with the tax amortization of goodwill, which is included as a component of other long-term liabilities on our consolidated balance sheets.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> <em>Basic and Diluted Net Loss Per Share</em></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> <em>Income (loss) per share:</em>&nbsp;Basic income (loss) per share is computed by dividing consolidated net income (loss) by the weighted average number of common shares outstanding during the period, excluding unvested restricted stock.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> For periods of net income when the effects are not anti-dilutive, diluted earnings per share is computed by dividing our net income by the weighted average number of shares outstanding and the impact of all potential dilutive common shares, consisting&nbsp;&nbsp;primarily of stock options, unvested restricted stock and stock purchase warrants.&nbsp;&nbsp;The dilutive impact of our dilutive potential common shares resulting from stock options and stock purchase warrants is determined by applying the treasury stock method.&nbsp;&nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> For periods of net loss, diluted loss per share is calculated similarly to basic loss per share because the impact of all dilutive potential common shares is anti-dilutive due to the net losses. A total of approximately 12.6 million and 11.6 million potential dilutive securities have been excluded in the calculation of diluted net loss per share in the three months ended March 31, 2014 and 2013, respectively, because their inclusion would be anti-dilutive.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> <em>Recent Accounting Pronouncements</em></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> We have evaluated all Accounting Standards Updates through the date the unaudited condensed consolidated financial statements were issued and believe the adoption of these will not have a material impact on our results of operations, financial position, or cash flows.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <!--EndFragment--></div> </div> 8325402 7335712 <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>Note 5 - Stockholders&#39; Equity</strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> <strong>&nbsp;</strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <em>Long-Term Incentive Plan</em></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> In 2007, the Company&#39;s stockholders approved the 2007 Long-Term Incentive Compensation Plan (the "2007 Plan") which provides for the granting of incentive and non-qualified stock options, stock appreciation rights, performance units, restricted common awards and performance bonuses (collectively "awards")&nbsp;&nbsp;to Company officers and employees.&nbsp;&nbsp;Additionally, the 2007 Plan authorizes the granting of non-qualified stock options and restricted stock awards to Company directors and to independent consultants.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;&nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> In 2008, the Company&#39;s shareholders approved amendments to the 2007 Plan, increasing from 3.5 million shares to 4.6 million shares the maximum number of shares authorized for issuance under the plan and adding an evergreen provision pursuant to which the number of shares authorized for issuance under the plan will increase automatically in each year, beginning in 2009 and continuing through 2015, according to certain limits set forth in the 2007 Plan.&nbsp;&nbsp;However, the 2007 Plan evergreen provision limit was reached on January 1, 2014. At March 31, 2014, there are approximately 10.3 million shares approved for issuance under the 2007 plan, of which approximately 2.5 million shares are available to be issued. The Board of Directors in conjunction with management determines who receives awards, the vesting conditions and the exercise price.&nbsp;&nbsp;Options&nbsp;may have a maximum term of ten years.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <em>Warrants</em></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> <em>&nbsp;</em></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> At March 31, 2014 and 2013 there were warrants outstanding to purchase 5,620,128 shares of our common stock, respectively. The warrants outstanding as of March 31, 2014 and 2013 were as follows, and all are exercisable:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.5in"> &nbsp;</p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif" colspan="2">Number of Common Shares Underlying Warrants</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: center">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"> Issue Date</td> <td style="VERTICAL-ALIGN: middle; PADDING-BOTTOM: 1pt; TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif" colspan="2">Exercise Price</td> <td style="VERTICAL-ALIGN: middle; PADDING-BOTTOM: 1pt; TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="VERTICAL-ALIGN: middle; PADDING-BOTTOM: 1pt; TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"> Expiration Date</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 1%; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="WIDTH: 23%; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif"> 100,778</td> <td style="WIDTH: 1%; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="WIDTH: 2%; FONT: 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="WIDTH: 10%; TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 5.4pt"> (1)</td> <td style="WIDTH: 2%; FONT: 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="WIDTH: 20%; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 5.4pt; TEXT-INDENT: 10pt"> March 2007</td> <td style="WIDTH: 2%; FONT: 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="WIDTH: 1%; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"> $</td> <td style="WIDTH: 15%; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif"> 3.97</td> <td style="WIDTH: 1%; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="WIDTH: 2%; FONT: 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="WIDTH: 20%; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 5.4pt; TEXT-INDENT: 10pt"> March 2017</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif"> 705,354</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 5.4pt"> (2)</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 5.4pt; TEXT-INDENT: 10pt"> March 2009</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"> $</td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif"> 3.00</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 5.4pt; TEXT-INDENT: 10pt"> September 2014</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif"> 2,572,775</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 5.4pt"> (1)</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 5.4pt; TEXT-INDENT: 10pt"> July 2009</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"> $</td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif"> 2.50</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 5.4pt; TEXT-INDENT: 10pt"> January 2015</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif"> 500,000</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 5.4pt"> (2)</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 5.4pt; TEXT-INDENT: 10pt"> April 2010</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"> $</td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif"> 1.89</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 5.4pt; TEXT-INDENT: 10pt"> October 2015</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif"> 1,323,214</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 5.4pt"> (2)</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 5.4pt; TEXT-INDENT: 10pt"> July 2010</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"> $</td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif"> 1.63</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 5.4pt; TEXT-INDENT: 10pt"> January 2017</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif"> 371,423</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 5.4pt"> (2)</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 5.4pt; TEXT-INDENT: 10pt"> June 2011</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"> $</td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif"> 3.50</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 5.4pt; TEXT-INDENT: 10pt"> June 2016</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif"> 46,584</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 5.4pt"> (1)</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 5.4pt; TEXT-INDENT: 10pt"> March 2012</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"> $</td> <td style="TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif"> 1.61</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="PADDING-BOTTOM: 1pt; FONT: 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 5.4pt; TEXT-INDENT: 10pt"> March 2022</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT: 10pt Times New Roman, Times, Serif"> 5,620,128</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 5.4pt"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 5.4pt"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right">&nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 5.4pt"> &nbsp;</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 3%; PADDING-RIGHT: 0.8pt">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; PADDING-RIGHT: 0.8pt; WIDTH: 5%"> (1)</td> <td style="FONT: 10pt Times New Roman, Times, Serif; PADDING-RIGHT: 0.8pt; WIDTH: 92%"> These warrants to purchase common stock are classified as equity.</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 3%; PADDING-RIGHT: 0.8pt">&nbsp;</td> <td style="FONT: 10pt Times New Roman, Times, Serif; PADDING-RIGHT: 0.8pt; WIDTH: 5%"> (2)</td> <td style="FONT: 10pt Times New Roman, Times, Serif; PADDING-RIGHT: 0.8pt; WIDTH: 92%"> These warrants to purchase common stock are classified as derivative liabilities. The fair value of these liabilities (See Note 3 - <em>Fair Value Measurements</em>) is remeasured at the end of every reporting period and the change in fair value is reported in the unaudited condensed consolidated statements of operations as other income (expense).</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <!--EndFragment--></div> </div> 723073 1324553 1100000 <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> <strong>Note 7 - Subsequent Events</strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> <strong>&nbsp;&nbsp;</strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> <font style="FONT-FAMILY: Times New Roman, Times, Serif">On April 4, 2014, we received notification from BARDA advising us of its decision to de-scope the current SparVax<sup>&reg;</sup></font> <font style="FONT-FAMILY: Times New Roman, Times, Serif">anthrax vaccine contract through a partial termination for convenience. BARDA has subsequently provided guidance authorizing PharmAthene to complete six activities under the contract. All other activities were de-scoped, including the proposed Phase 2 clinical trial. PharmAthene has proposed a timeline for completing these contract activities up to and including the submission of its settlement proposal. The company expects these events to occur in the third or fourth quarter of 2014.</font></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> Subsequent to March 31, 2014, we sold 723,073 shares of our common stock under the controlled equity offering, which resulted in net proceeds of approximately $1.1 million. (See Note 6 <em>- Financing Transactions</em>). Aggregate gross proceeds of up to approximately $4.8 million remain available under the arrangement.</p> <!--EndFragment--></div> </div> 1649896 2199525 242641 -905777 <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <em>Use of Estimates</em></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period.&nbsp;&nbsp;Our unaudited condensed consolidated financial statements include significant estimates for our share-based compensation and the value of our financial instruments, among other things. Because of the use of estimates inherent in the financial reporting process, actual results could differ significantly from those estimates.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <!--EndFragment--></div> </div> 53044119 48359181 xbrli:shares iso4217:USD xbrli:pure iso4217:USD pip:warrants iso4217:USD xbrli:shares 0001326190 us-gaap:WarrantMember pip:ShareBasedCompensationWarrantsPriceRangeSevenMember 2014-01-01 2014-03-31 0001326190 us-gaap:WarrantMember pip:ShareBasedCompensationWarrantsPriceRangeThreeMember 2014-01-01 2014-03-31 0001326190 us-gaap:WarrantMember pip:ShareBasedCompensationWarrantsPriceRangeOneMember 2014-01-01 2014-03-31 0001326190 us-gaap:SubsequentEventMember 2014-01-01 2014-03-31 0001326190 pip:DerivativeInstrumentWarrantsMember pip:ShareBasedCompensationWarrantsPriceRangeSixMember 2014-01-01 2014-03-31 0001326190 pip:DerivativeInstrumentWarrantsMember pip:ShareBasedCompensationWarrantsPriceRangeFiveMember 2014-01-01 2014-03-31 0001326190 pip:DerivativeInstrumentWarrantsMember pip:ShareBasedCompensationWarrantsPriceRangeFourMember 2014-01-01 2014-03-31 0001326190 pip:DerivativeInstrumentWarrantsMember pip:ShareBasedCompensationWarrantsPriceRangeTwoMember 2014-01-01 2014-03-31 0001326190 us-gaap:ResearchAndDevelopmentExpenseMember 2014-01-01 2014-03-31 0001326190 us-gaap:MaximumMember 2014-01-01 2014-03-31 0001326190 us-gaap:LoansPayableMember 2014-01-01 2014-03-31 0001326190 us-gaap:LineOfCreditMember 2014-01-01 2014-03-31 0001326190 us-gaap:GeneralAndAdministrativeExpenseMember 2014-01-01 2014-03-31 0001326190 pip:GroupThreeMember 2014-01-01 2014-03-31 0001326190 pip:GroupFourMember 2014-01-01 2014-03-31 0001326190 pip:EquityOfferingMember 2014-01-01 2014-03-31 0001326190 2014-01-01 2014-03-31 0001326190 us-gaap:ResearchAndDevelopmentExpenseMember 2013-01-01 2013-03-31 0001326190 us-gaap:GeneralAndAdministrativeExpenseMember 2013-01-01 2013-03-31 0001326190 2013-01-01 2013-03-31 0001326190 us-gaap:MaximumMember pip:PharmAtheneMember 2011-09-01 2011-09-30 0001326190 pip:PharmAtheneMember 2011-09-01 2011-09-30 0001326190 2009-07-01 2009-07-31 0001326190 pip:StockIncentivePlanTwentyZeroSevenMember 2008-01-01 2008-12-31 0001326190 2014-05-01 0001326190 us-gaap:WarrantMember pip:ShareBasedCompensationWarrantsPriceRangeSevenMember 2014-03-31 0001326190 us-gaap:WarrantMember pip:ShareBasedCompensationWarrantsPriceRangeThreeMember 2014-03-31 0001326190 us-gaap:WarrantMember pip:ShareBasedCompensationWarrantsPriceRangeOneMember 2014-03-31 0001326190 pip:DerivativeInstrumentWarrantsMember pip:ShareBasedCompensationWarrantsPriceRangeSixMember 2014-03-31 0001326190 pip:DerivativeInstrumentWarrantsMember pip:ShareBasedCompensationWarrantsPriceRangeFiveMember 2014-03-31 0001326190 pip:DerivativeInstrumentWarrantsMember pip:ShareBasedCompensationWarrantsPriceRangeFourMember 2014-03-31 0001326190 pip:DerivativeInstrumentWarrantsMember pip:ShareBasedCompensationWarrantsPriceRangeTwoMember 2014-03-31 0001326190 us-gaap:LoansPayableMember 2014-03-31 0001326190 us-gaap:LineOfCreditMember 2014-03-31 0001326190 pip:StockIncentivePlanTwentyZeroSevenMember 2014-03-31 0001326190 pip:EquityOfferingMember 2014-03-31 0001326190 us-gaap:FairValueInputsLevel1Member 2014-03-31 0001326190 us-gaap:FairValueInputsLevel3Member pip:DerivativeLiabilitiesMember us-gaap:WarrantMember 2014-03-31 0001326190 us-gaap:FairValueInputsLevel3Member 2014-03-31 0001326190 2014-03-31 0001326190 us-gaap:FairValueInputsLevel1Member 2013-12-31 0001326190 us-gaap:FairValueInputsLevel3Member 2013-12-31 0001326190 2013-12-31 0001326190 us-gaap:FairValueInputsLevel3Member pip:DerivativeLiabilitiesMember us-gaap:WarrantMember 2013-03-31 0001326190 2013-03-31 0001326190 pip:EquityOfferingMember 2013-03-25 0001326190 2012-12-31 0001326190 us-gaap:LineOfCreditMember 2012-03-30 0001326190 2012-03-30 0001326190 pip:StockIncentivePlanTwentyZeroSevenMember 2008-12-31 0001326190 pip:StockIncentivePlanTwentyZeroSevenMember 2007-12-31 These warrants to purchase common stock are classified as equity. These warrants to purchase common stock are classified as derivative liabilities. The fair value of these liabilities (See Note 3 - Fair Value Measurements) is remeasured at the end of every reporting period and the change in fair value is reported in the unaudited condensed consolidated statements of operations as other income (expense). Included in cash and cash equivalents in accompanying condensed consolidated balance sheets. EX-101.SCH 7 pip-20140331.xsd XBRL TAXONOMY EXTENSION SCHEMA 101 - Disclosure - Business and Liquidity link:calculationLink link:definitionLink link:presentationLink link:labelLink link:referenceLink 40101 - Disclosure - Business and Liquidity (Details) link:calculationLink link:definitionLink link:presentationLink link:labelLink link:referenceLink 104 - Disclosure - Commitments and Contingencies link:calculationLink link:definitionLink link:presentationLink link:labelLink link:referenceLink 40401 - Disclosure - Commitments and Contingencies (Details) link:calculationLink link:definitionLink link:presentationLink link:labelLink link:referenceLink 002 - Statement - CONDENSED CONSOLIDATED BALANCE SHEETS link:calculationLink link:definitionLink link:presentationLink link:labelLink link:referenceLink 003 - Statement - CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) link:calculationLink link:definitionLink link:presentationLink link:labelLink link:referenceLink 001 - Document - Document and Entity Information link:calculationLink link:definitionLink link:presentationLink link:labelLink link:referenceLink 106 - Disclosure - Financing Transactions link:calculationLink link:definitionLink link:presentationLink link:labelLink link:referenceLink 40601 - Disclosure - Financing Transactions (Controlled Equity Offering) (Details) link:calculationLink link:definitionLink link:presentationLink link:labelLink link:referenceLink 40602 - Disclosure - Financing Transactions (Loan Agreement with GE Capital) (Details) link:calculationLink link:definitionLink link:presentationLink link:labelLink link:referenceLink 40603 - Disclosure - Financing Transactions (Principal Payments on the Term Loan) (Details) link:calculationLink link:definitionLink link:presentationLink link:labelLink link:referenceLink 306 - Disclosure - Financing Transactions (Tables) link:calculationLink link:definitionLink link:presentationLink link:labelLink link:referenceLink 40604 - Disclosure - Financing Transactions (Term Loan, Net of Debt Discount) (Details) link:calculationLink link:definitionLink link:presentationLink link:labelLink link:referenceLink 103 - Disclosure - Fair Value Measurements link:calculationLink link:definitionLink link:presentationLink link:labelLink link:referenceLink 40303 - Disclosure - Fair Value Measurements (Narrative) (Details) link:calculationLink link:definitionLink link:presentationLink link:labelLink link:referenceLink 40301 - Disclosure - Fair Value Measurements (Schedule of Assets and Liabilities Measured at Fair Value) (Details) link:calculationLink link:definitionLink link:presentationLink link:labelLink link:referenceLink 40302 - Disclosure - Fair Value Measurements (Summary of Changes in Fair Value of Our Level 3 Liabilities) (Details) link:calculationLink link:definitionLink link:presentationLink link:labelLink link:referenceLink 303 - Disclosure - Fair Value Measurements (Tables) link:calculationLink link:definitionLink link:presentationLink link:labelLink link:referenceLink 107 - Disclosure - Subsequent Events link:calculationLink link:definitionLink link:presentationLink link:labelLink link:referenceLink 105 - Disclosure - Stockholders' Equity link:calculationLink link:definitionLink link:presentationLink link:labelLink link:referenceLink 40701 - Disclosure - Subsequent Events (Details) link:calculationLink link:definitionLink link:presentationLink link:labelLink link:referenceLink 40501 - Disclosure - Stockholders' Equity (Narrative) (Details) link:calculationLink link:definitionLink link:presentationLink link:labelLink link:referenceLink 40502 - Disclosure - Stockholders' Equity (Schedule of Warrants) (Details) link:calculationLink link:definitionLink link:presentationLink link:labelLink link:referenceLink 305 - Disclosure - Stockholders' Equity (Tables) link:calculationLink link:definitionLink link:presentationLink link:labelLink link:referenceLink 102 - Disclosure - Summary of Significant Accounting Policies link:calculationLink link:definitionLink link:presentationLink link:labelLink link:referenceLink 40201 - Disclosure - Summary of Significant Accounting Policies (Narrative) (Details) link:calculationLink link:definitionLink link:presentationLink link:labelLink link:referenceLink 202 - Disclosure - Summary of Significant Accounting Policies (Policy) link:calculationLink link:definitionLink link:presentationLink link:labelLink link:referenceLink 40202 - Disclosure - Summary of Significant Accounting Policies (Schedule of Share-based Compensation Expense) (Details) link:calculationLink link:definitionLink link:presentationLink link:labelLink link:referenceLink 302 - Disclosure - Summary of Significant Accounting Policies (Tables) link:calculationLink link:definitionLink link:presentationLink link:labelLink link:referenceLink 006 - Statement - UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS link:calculationLink link:definitionLink link:presentationLink link:labelLink link:referenceLink 005 - Statement - UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS link:calculationLink link:definitionLink link:presentationLink link:labelLink link:referenceLink 004 - Statement - UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS link:calculationLink link:definitionLink link:presentationLink link:labelLink link:referenceLink EX-101.CAL 8 pip-20140331_cal.xml XBRL TAXONOMY EXTENSION CALCULATION LINKBASE EX-101.DEF 9 pip-20140331_def.xml XBRL TAXONOMY EXTENSION DEFINITION LINKBASE EX-101.LAB 10 pip-20140331_lab.xml XBRL TAXONOMY EXTENSION LABEL LINKBASE Commitments and Contingencies [Abstract] Commitments And Contingencies Disclosure [Text Block] Commitments and Contingencies Maximum [Member] Proceeds from Legal Settlements Settlement proceeds Range [Axis] Range [Domain] Range [Domain] Warrant Expiration Date Breach of contractual commitment award period - number of years following initial commercial sale of ArestvyrTM. Breach Of Contractual Commitment Award Period SIGA breach of contractual obligation award period following initial commercial sale Commitment And Contingencies [Table] Commitment And Contingencies [Table] Commitment And Contingencies [Table] Commitments and Contingencies [Line Items] Commitments And Contingencies [Line Items] Commitments and Contingencies [Line Items] Court awarded fees. Court Awarded Fees Awarded 1/3 reasonable attorney's fees and expert witness fees, plus interest. Aggregate principal amount of the convertible notes relating to the affected shares on every 30th day after the initial day of a Maintenance Failure, in each case prorated for shorter periods and until the failure is cured. [Member] Group Four [Member] Every 30 days until failure is cured [Member] One-time payment of 1.0% of the aggregate principal amount of the convertible notes relating to the affected shares on the initial day of a Maintenance Failure. . Group Three [Member] Initial Maximum Maintenance Failure Obligation [Member] Net profit on ArestvyrTM (as defined in court's final judgement) before distribution for breach of contract. Net Profit Retention From Sales Before Distribution For Breach Of Contract SIGA net profits (as defined in court's final judgement) before distribution for breach of contract Initial maximum maintenance failure obligation and additional maximum obligation every 30th daily after initial maintenance failure. Notes Payable Aggregate Principal Repayment Amount Aggregate principal amount of obligation Percentage of aggregate principal amount of convertible notes relating to the affected shares. Percentage Of Aggregate Principal Amount Redemption Percentage of aggregate principal amount of convertible notes Percentage of net profits (as defined in court's final judgement) awarded on the sales of ArestvyrTM and related products. Percentage Of Net Profit Awarded SIGA breach of contractual obligation awarded, percentage of net profits (as defined in court's final judgement) PharmAthene [Member] Pharm Athene [Member] PharmAthene [Member] Warrant, Expiration Date Warrant expiration date Loss Contingencies By Nature Of Contingency [Axis] Loss Contingency Nature [Axis] Loss Contingency Nature [Domain] Loss Contingency, Nature [Domain] Maximum [Member] Range [Axis] Segment [Domain] Segment [Domain] Statement Business Segments [Axis] Business Segments [Axis] Derivative Instruments and Hedges, Liabilities Current portion of derivative instruments Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Also includes the aggregate carrying amount, as of the balance sheet date, of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered and of liabilities not separately disclosed in the balance sheet. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Accrued Expenses And Other Current Liabilities Accrued expenses and other liabilities Accounts Payable Current Accounts payable Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax Accumulated other comprehensive loss Additional Paid In Capital Common Stock Additional paid-in-capital Assets Total assets Assets [Abstract] ASSETS Assets Current Total current assets Assets Current [Abstract] Current assets: Billed Contract Receivables Accounts receivable (billed) Common Stock Value Common stock, $0.0001 par value; 100,000,000 shares authorized; 53,773,705 and 52,304,426 shares issued and outstanding at March 31, 2014 and December 31, 2013, respectively Deferred Revenue Deferred revenue Derivative Liabilities Noncurrent Derivative instruments, less current portion Goodwill Goodwill Liabilities Total liabilities Liabilities And Stockholders Equity Total liabilities and stockholders' equity Liabilities And Stockholders Equity [Abstract] LIABILITIES AND STOCKHOLDERS' EQUITY Total current liabilities Liabilities Current [Abstract] Current liabilities: Long Term Debt Current Current portion of long-term debt Long Term Debt Noncurrent Long-term debt, less current portion Other Assets Noncurrent Other long-term assets and deferred costs Other Liabilities Noncurrent Other long-term liabilities Prepaid Expense And Other Assets Current Prepaid expenses and other current assets Property Plant And Equipment Net Property and equipment, net Accumulated deficit Short Term Borrowings Short-term debt CONDENSED CONSOLIDATED BALANCE SHEETS [Abstract] Stockholders Equity Total stockholders' equity Stockholders Equity [Abstract] Stockholders' equity: Unbilled Contracts Receivable Unbilled accounts receivable Common Stock Par Or Stated Value Per Share Common stock, par value Common Stock Shares Authorized Common stock, shares authorized Common Stock Shares Issued Common stock, shares issued Common Stock Shares Outstanding Common stock, shares outstanding Amendment Flag Amendment Flag Current Fiscal Year End Date Current Fiscal Year End Date Document Fiscal Period Focus Document Fiscal Period Focus Document Fiscal Year Focus Document Fiscal Year Focus Document Period End Date Document Period End Date Document Type Document Type Entity Central Index Key Entity Central Index Key Entity Common Stock Shares Outstanding Entity Common Stock, Shares Outstanding Entity Filer Category Entity Filer Category Entity Registrant Name Entity Registrant Name Trading Symbol Trading Symbol Document and Entity Information [Abstract] Document and Entity Information [Abstract] Financing Transactions Additional Financial Information Disclosure [Text Block] Financing Transactions [Abstract] Adjustable Debt Instrument Reference Interest Rate Floor Percentage Adjustable interest rate reference rate, based up 3-month London Interbank Offered Rate (LIBOR), with a floor of 1.5%. Adjustable interest rate, reference rate, floor percentage 1.5% Convertible Notes Payable, Noncurrent Convertible note payable, cash paid Debt Instrument, Basis Spread on Variable Rate Loan payable, interest rate spread Debt instrument, carrying amount Debt conversion, price per share Debt Instrument, Convertible, Conversion Price Incremental borrowing rate used to calculate discount Debt Instrument, Interest Rate, Effective Percentage Debt Instrument Interest Rate Floor Percentage The portion of the carrying amount of short-term borrowings outstanding as of the balance sheet date, which accrues interest at a rate subject to change from time to time, however, with a floor of 1.5%. Variable interest rate, with floor of 1.5% Debt Instrument, Interest Rate, Stated Percentage Fixed interest rate Debt Instrument, Issuance Date Debt Instrument [Line Items] Debt instrument, maturity date Debt Instrument, Maturity Date Schedule of Long-term Debt Instruments [Table] Debt Instrument, Unamortized Discount Debt discount Final Payment Fee Of Term Loan Balance Percent Final payment fee payable on term loan balance, percent. Final payment fee payable on term loan balance, percent Early Conversion offer expense Induced Conversion of Convertible Debt Expense Interest expense related to convertible notes Interest Expense, Debt Line of Credit Facility, Borrowing Capacity, Description Line of credit borrowing capacity description Line Of Credit Facility Borrowing Capacity Percent Of Qualified Billed Accounts Receivable Line Of Credit Facility Borrowing Capacity Percent Of Qualified Billed Accounts Receivable. Line of credit facility borrowing capacity, qualified billed accounts receivable, percent Line Of Credit Facility Borrowing Capacity Percent Of Qualified Unbilled Accounts Receivabl Line Of Credit Facility Borrowing Capacity Percent Of Qualified Unbilled Accounts Receivable. Line of credit facility borrowing capacity, qualified unbilled accounts receivable, percent Line of Credit Facility, Current Borrowing Capacity Current borrowing capacity Line of Credit Facility, Fair Value of Amount Outstanding Line of Credit Facility, Amount Outstanding Line of Credit [Member] Loans Payable [Member] Long Term Debt Prepayment Premium Percent Of Principal Prepayment premium, if we prepay the term loan and terminate the revolving line of credit prior to the scheduled maturity date. Prepayment premium, if we prepay the term loan and terminate the revolving line of credit prior to the scheduled maturity date, percent Long Term Debt Prepayment Premium Percent Of Principal Period Two Prepayment premium, if paid after the first two years of the term loan, percent. Prepayment premium, if paid after the first two years of the term loan, percent Long-term Debt, Type [Axis] Long-term Debt, Type [Domain] Stock Issued During Period, Shares, Conversion of Convertible Securities Stock Issued During Period, Value, Conversion of Convertible Securities Stock Issued Value Convertible Notes And Stock Purchase Warrants Stock Issued Value Convertible Notes And Stock Purchase Warrants. Stock issued of convertible notes and stock purchase warrants, Value Warrants Issued To Purchase Common Stock In Connection To Loan Agreement Warrants Issued To Purchase Common Stock In Connection With Loan Agreement. Warrants issued to purchase common stock, in connection with loan agreement Debt Instruments Maturity Date Month and Year Debt Instruments Maturity Date Month And Year Term loan and line of credit, maturity date Class Of Warrant Or Right Exercise Price Of Warrants Or Rights Warrant exercise price Debt Instrument Carrying Amount Term loan, payment terms Debt Instrument Payment Terms Line Of Credit Facility Maximum Borrowing Capacity Line of credit facility, maximum borrowing capacity Conversion of July 2009 Convertible Debt (in shares) Conversion of July 2009 Convertible Debt Schedule of Debt [Table Text Block] Term Loan, Net of Debt Discount Schedule of Maturities of Long-term Debt [Table Text Block] Principal Payments on the Term Loan Fair Value Measurements [Abstract] Fair Value Disclosures [Text Block] Fair Value Measurements Derivative Liabilities [Member] Derivative Liabilities [Member] Derivative Liabilities [Member] Fair Value Measurements [Line Items] Fair Value Measurements [Line Items] Fair Value Measurements [Line Items] Fair Value Measurements [Table] Fair Value Measurements [Table] Fair Value Measurements [Table] Class Of Warrant Or Right Outstanding Warrants to purchase common stock Fair Value By Fair Value Hierarchy Level [Axis] Fair Value, Hierarchy [Axis] Fair Value By Liability Class [Axis] Liability Class [Axis] Fair Value Inputs Level 3 [Member] Fair Value, Inputs, Level 3 [Member] Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation By Liability Class [Domain] Fair Value by Liability Class [Domain] Fair Value Measurements Fair Value Hierarchy [Domain] Fair Value, Measurements, Fair Value Hierarchy [Domain] Financial Instrument [Axis] Financial Instrument [Axis] Transfers And Servicing Of Financial Instruments Types Of Financial Instruments [Domain] Types of Financial Instruments [Domain] Warrant [Member] Warrants [Member] Ending Balance Beginning Balance Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table] Fair Value Measurements, Valuation Techniques Valuation Technique Unrealized (Gains) Losses Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] Unrealized Gain Loss On Derivatives Non-current portion of derivative instruments related to stock purchase warrants Level 1 [Member] Assets, Fair Value Disclosure [Abstract] Derivative Asset Derivative Liability Total derivative instruments related to stock purchase warrants Derivative Liability, Current Current portion of derivative instruments related to stock purchase warrants Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] Fair Value Measurements, Recurring and Nonrecurring [Table] Measurement Frequency [Axis] Fair Value, Inputs, Level 1 [Member] Level 2 [Member] Fair Value, Inputs, Level 2 [Member] Level 3 [Member] Fair Value, Measurement Frequency [Domain] Recurring [Member] Fair Value, Measurements, Recurring [Member] Investments, Fair Value Disclosure Investment in money market funds Liabilities, Fair Value Disclosure [Abstract] Liabilities: Assets: Total investment in money market funds Schedule of Quantitative Information about Level 3 Fair Value Measurements Fair Value Inputs, Liabilities, Quantitative Information [Table Text Block] Summary of Changes in Fair Value of Level 3 Liabilities Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] Schedule of Assets and Liabilities Measured at Fair Value Business and Liquidity [Abstract] Organization Consolidation And Presentation Of Financial Statements Disclosure [Text Block] Business and Liquidity Stockholders' Equity [Abstract] Stockholders Equity Note Disclosure [Text Block] Stockholders' Equity Subsequent Event [Abstract] Subsequent Events Subsequent Events [Text Block] Warrants issued to purchase shares of common stock Plan Name [Axis] Plan Name [Axis] Plan Name [Domain] Plan Name [Domain] Value Of Warrant Issued To Lender In Connection With Loan Group One [Member] Group One [Member] Expiration 2015 [Member] Group Two [Member] Group Two [Member] Expiration 2017 [Member] Stockholders Equity [Line Items] Stockholders Equity [Line Items] Stockholders Equity [Line Items] Stockholders' Equity [Table] Stockholders Equity [Table] Stockholders' Equity [Table] Stock Incentive Plan 2007 [Member] Stock Incentive Plan Twenty Zero Seven [Member] 2007 Long Term Incentive Plan [Member] Stock Options Contractual Term Stock Options Contractual Term Options award term Value of warrants issued to lender in connection with loan Value of warrants issued to lender in connection with loan Class Of Warrant Or Right [Axis] Class of Warrant or Right [Axis] Class Of Warrant Or Right [Domain] Class of Warrant or Right [Domain] Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights Common Stock Capital Shares Reserved For Future Issuance Common stock reserved Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized Shares approved for issuance Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant Shares available to be issued Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] Summary of Warrants Outstanding Summary of Significant Accounting Policies [Abstract] Significant Accounting Policies [Text Block] Summary of Significant Accounting Policies Comprehensive Income, Policy [Policy Text Block] Comprehensive Loss and Accumulated Other Comprehensive Income Fair Value of Financial Instruments, Policy [Policy Text Block] Financial Instruments Goodwill Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] Major Customers, Policy [Policy Text Block] Significant Customers and Accounts Receivable New Accounting Pronouncements, Policy [Policy Text Block] Recent Accounting Pronouncements Basis Of Presentation And Significant Accounting Policies [Text Block] Basis of Presentation Cash And Cash Equivalents Policy [Text Block] Cash and Cash Equivalents Debt Policy [Text Block] Revolving Line of Credit and Term Loan Earnings Per Share Policy [Text Block] Basic and Diluted Net Loss Per Share Foreign Currency Transactions And Translations Policy [Text Block] Foreign Currency Translation Income Tax Policy [Text Block] Income Taxes Revenue Recognition Policy [Text Block] Revenue Recognition Share Based Compensation Option And Incentive Plans Policy Share-Based Compensation Use Of Estimates Use of Estimates Income Statement Location [Axis] Income Statement Location [Domain] Allocated Share Based Compensation Expense Total share-based compensation expense Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] General And Administrative Expense [Member] General and Administrative Expense [Member] Income Statement Location [Axis] Income Statement Location [Domain] Research And Development Expense [Member] Research and Development [Member] Schedule Of Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Table] Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table] Schedule Of Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Text Block] Schedule of Share-based Compensation Expense Depreciation Depreciation expense Gain on the disposal of property and equipment Accounts receivable Deferred revenue Increase (Decrease) in Deferred Revenue Prepaid expenses and other current assets Unbilled accounts receivable Net loss Purchase of property and equipment Proceeds from Issuance of Common Stock Net proceeds from issuance of common stock Proceeds from (Repayments of) Other Long-term Debt Repayment of debt Change in fair value of derivative instruments Deferred financing costs Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities [Abstract] Adjustments to reconcile net loss to net cash used in operating activities: Cash and cash equivalents, at end of period Cash and cash equivalents, at beginning of period Cash And Cash Equivalents Period Increase Decrease (Decrease) increase in cash and cash equivalents Deferred Income Tax Expense Benefit Deferred income taxes Effect Of Exchange Rate On Cash And Cash Equivalents Effects of exchange rates on cash Gain Loss On Sale Of Property Plant Equipment Increase Decrease In Accounts Payable Accounts payable Increase Decrease In Accounts Receivable Increase Decrease In Accrued Liabilities And Other Operating Liabilities Accrued expenses and other liabilities Increase Decrease In Operating Capital [Abstract] Changes in operating assets and liabilities: Increase Decrease In Prepaid Deferred Expense And Other Assets Increase Decrease In Unbilled Receivables Interest Paid Cash paid for interest Net Cash Provided By Used In Financing Activities Net cash provided (used) by financing activities Net Cash Provided By Used In Financing Activities [Abstract] Financing activities Net Cash Provided By Used In Investing Activities Net cash used in investing activities Net Cash Provided By Used In Investing Activities [Abstract] Investing activities Net Cash Provided By Used In Operating Activities Net cash (used in) provided by operating activities Net Cash Provided By Used In Operating Activities [Abstract] Operating activities Net Income Loss Paid In Kind Interest Non-cash interest expense Payments Of Financing Costs Payments To Acquire Property Plant And Equipment Proceeds From Repayments Of Lines Of Credit Net proceeds from (repayment of) revolving credit agreement Proceeds From Sale Of Property Plant And Equipment Proceeds from the sale of property and equipment Share Based Compensation Share-based compensation expense UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS [Abstract] Supplemental Cash Flow Information [Abstract] Supplemental disclosure of cash flow information Depreciation Interest Income (Expense), Net Contracts Revenue Contract Revenue Earnings Per Share Basic And Diluted Basic and diluted net loss per share General And Administrative Expense General and administrative Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments Net loss before provision for income taxes UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract] Interest income and expense, net Net loss Nonoperating Income Expense Total other income (expense) Nonoperating Income Expense [Abstract] Other income (expense): Operating Expenses Total operating expenses Operating Expenses [Abstract] Operating Expenses: Operating Income Loss Loss from operations Other Nonoperating Income Expense Other income (expense) Research And Development Expense Research and development Change in fair value of derivative instruments Weighted Average Number Of Share Outstanding Basic And Diluted Weighted average shares used in calculation of basic and diluted net loss per share Other Comprehensive Income (Loss), Net of Tax Comprehensive loss Other Comprehensive Income (Loss), Net of Tax [Abstract] Other comprehensive (loss) income: Net Loss Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax Foreign currency translation adjustments UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS [Abstract] Long Term Debt Excluding Discount Long Term Debt Excluding Discount Total 2015 Long-term Debt, Maturities, Repayments of Principal, Remainder of Fiscal Year 2014 Long Term Debt Maturities Repayments Of Principal In Year Two Long-term Debt Long term debt, net of discount Commission owed to sales agent, expressed as percentage of aggregate gross proceeds from each sale of shares. Commission owed to sales agent, expressed as percentage of aggregate gross proceeds from each sale of shares of common stock Equity Offering [Axis] Equity Offering [Domain] Equity Offering [Line Items] Equity Offering [Member] Equity Offering [Table] Commission Owed To Sales Agent Expressed As Percentage Of Aggregate Gross Proceeds From Each Sale Of Shares Common Stock, Share Subscribed but Unissued, Subscriptions Receivable Common stock - receivable Equity Offering [Axis] Equity Offering [Domain] Equity Offering [Line Items] Equity Offering [Member] Equity Offering [Table] Future Value Settled Future Value Settled Proceeds later settled Maximum Value Of Stock Issuable Under Stock Offering Previous Proceeds From Issuance Of Common Stock Received Previous Proceeds From Issuance Of Common Stock Received Proceeds from issuance of common stock, net of issuance costs received Remaining Value Of Stock Issuable Under Stock Offering The remaining value of common stock issuable under the controlled equity offering arrangement. Amount remaining available under controlled equity offering arrangement Stock Issued During Period, Shares, New Issues Number of shares sold The maximum value of common stock issuable under the controlled equity offering arrangement. The maximum value of common stock issuable under the controlled equity offering arrangement Additional Common Stock Aggregate Gross Sales Additional Common Stock Aggregate Gross Sales available under the controlled equity offering arrangement Additional Common Stock Aggregate Gross Sales available under the controlled equity offering arrangement Billed And Unbilled Accounts Receivable Net Accounts receivable, billed and unbilled Accounts receivable, billed and unbilled Liabilities current Retained deficit Cash And Cash Equivalents At Carrying Value Cash and cash equivalents Liabilities Current Retained Earnings Accumulated Deficit Assets Held-for-sale, Property, Plant and Equipment Assets Held-for-sale, consisting of land and buildings Cash and Cash Equivalents [Axis] Current Income Tax Expense (Benefit) Provision for income taxes Repayment date Gain on the sale of assets held for sale Gain (Loss) on Disposition of Assets Impairment charges Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment from AOCI, Realized upon Sale or Liquidation, Net of Tax Realization of cumulative translation adjustment included in net loss Cash and Cash Equivalents [Domain] Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures Cash Equivalents, Maturity Period Cash Equivalents Maturity Period Cash liquidity maturity period Liquidity Arrangements [Member] Liquidity Arrangements [Member] Share based Compensation Arrangement by Share based Payment Award, Fair Value Assumptions, Annual Forfeiture Rate Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Annual Forfeiture Rate Share-based compensation forfeitures rate Share Based Compensation Arrangement by Share Based Payment Award Restricted Stock Units Granted in Period Share Based Compensation Arrangement By Share Based Payment Award Restricted Stock Units Granted In Period Restricted stock granted Significant Accounting Policies [Line Items] Significant Accounting Policies [Line Items] Significant Accounting Policies [Table] Significant Accounting Policies [Table] Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount Anti-dilutive securities excluded from computation of earnings per share Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Unrecognized share-based compensation expense related to unvested awards, net of forfeitures Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition 1 Unrecognized share-based compensation expense related to unvested awards expected to be recognized in the period Number Of Operating Segments Number of operating segment Stock options granted Proceeds From Issuance Of Common Stock Remaining Proceeds From Issuance Of Common Stock Remaining under the controlled equity offering arrangement Proceeds From Issuance Of Common Stock Remaining under the controlled equity offering arrangement Stock Issued During Period, Value, New Issues Subsequent Event [Line Items] Subsequent Event [Member] Subsequent Event [Table] Subsequent Event Type [Axis] Subsequent Event Type [Domain] Number of new stock issued during the period under the controlled equity offering arrangement Proceeds from issuance of common stock Class Of Warrant Or Right, Issuance Date. Award Type [Axis] Class of Warrant or Right, Date from which Warrants or Rights Exercisable Exercisable Date Class Of Warrant Or Right Issuance Date Issue Date Derivative, by Nature [Axis] Derivative Instrument Warrants [Member] Derivative Instrument Warrants [Member] Derivative, Name [Domain] Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table] Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number Warrants outstanding, not exercisable Award Type [Domain] Exercise Price Range [Axis] Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Domain] Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] Share Based Compensation Warrants Price Range Five [Member] Share Based Compensation Warrants Price Range Five Member. 1.63 [Member] Share Based Compensation Warrants Price Range Four [Member] Share Based Compensation Warrants Price Range Four Member. 1.89 [Member] Share Based Compensation Warrants Price Range One [Member] Share Based Compensation Warrants Price Range One Member. 3.97 [Member] Share Based Compensation Warrants Price Range Seven [Member] Share Based Compensation Warrants Price Range Seven Member. 1.61 [Member] Share Based Compensation Warrants Price Range Six [Member] Share Based Compensation Warrants Price Range Six Member. 3.50 [Member] Share Based Compensation Warrants Price Range Three [Member] Share Based Compensation Warrants Price Range Three Member. 2.50 [Member] Share Based Compensation Warrants Price Range Two [Member] Share Based Compensation Warrants Price Range Two Member. 3.00 [Member] Warrants, Exercise price Number of Common Shares Underlying Warrants EX-101.PRE 11 pip-20140331_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE EXCEL 12 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx M4$L#!!0`!@`(````(0#4VKBTTP$``!\5```3``@"6T-O;G1E;G1?5'EP97-= M+GAM;""B!`(HH``"```````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M``````````````````````````````````````#,F%U/PC`4AN]-_`]+;PWK MVBFB87#AQZ62B#^@K@>VL+5-6Q#^O=WXB"&((9)X;EC8VO,^Z\63[.T/EW45 M+<"Z4JN,L#@A$:A)%V::^5!^8YO9I!!_Q$F M8E[YZ&D9;J])+%2.1`_KA4U61H0Q59D+'TCI0LF]E,XF(0X[VS6N*(V["AB$ M'DQHGOPAJ#L[P/?9QSA"C36RVKA0Z%DX M_12VC5VSNV/"(+"^A%UG=ZC[VB6&,O#TP+WR#9JZ48(\D$W;>G/P!0``__\# M`%!+`P04``8`"````"$`M54P(_4```!,`@``"P`(`E]R96QS+RYR96QS(*($ M`BB@``(````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M`````````````````````````````(R2ST[#,`S&[TB\0^3[ZFY("*&ENTQ( MNR%4'L`D[A^UC:,D0/?VA`."2F/;T?;GSS];WN[F:50?'&(O3L.Z*$&Q,V)[ MUVIXK9]6#Z!B(F=I%,<:CAQA5]W>;%]XI)2;8M?[J+*+BQJZE/PC8C0=3Q0+ M\>QRI9$P4P>J/OH\^;*W-$UO>"_F M?6*73HQ`GA,[RW;E0V8+J<_;J)I"RTF#%?.&PO7W)E;',O=V]R:V)O;VLN M>&UL+G)E;',@H@0!**```0`````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M``"\6,MJPS`0O!?Z#T;W1ME5FSZ(DTLIY-K'!PA;B4TY>GE^N+A168BV+6W3 MM2Y7>Q?4UML[<9IGDYGVI_64(L?-;-5F2N_*LFH['G?IZ/_+]ZMUW7A[KOB=>?: M^,L9^KWSVU`Y%U-1ZS%5,TMP0Y.9R3#@A[IO4BH.*O];H_.LQCQ^:YHA@V/KNHVL$AE@8#3&$(TT. M07;X2I@=OD+LF%';.J9L<$?9');Z\`O;1UHP6"_2MDO0=CFEMF@H\13IA6^E MX=PB.-(Q`&4L+1RH&Q*G!G+#HR;DD$='KQFVOB.*+Y%NC+3E&.@YTID`(X&D MT1"$PZ,FU"`3H!S\YBD])#`<$D@Z'@C&`TG'`\%X,-(F:*`)2GL@M$#IFX(7 M1=+4$.2&I>.!83RP]`C#<(0QTIYCH.>84?,J5-:[\BGZ])7L=`8_W49O%M+Q M,*2#_O'5;O$)``#__P,`4$L#!!0`!@`(````(0`&PO=V]R:V)O;VLN>&ULE);;;N(P$(;O5]IWB'*_S;%'%2H*5(O$TDK0]M)R M$T.L)C:UG5+>?B>)"$,24'L%D^`O,__\,^3V[BM+K4^F-)>B9WMGKFTQ$O96Z;MN_[O7[<;J=[?I'RW`"!TSTZ,6=\XCHX2 MEE%])M=,P)VE5!DU$*J5H]>*T5@GC)DL=7S7O7`RRH5=$6[4=QARN>01&\DH MSY@P%42QE!I(7R=\K>W^[9*G[*6JR*+K]8QFD/=7:ELIU68<<\/BGGT.H=RP M@PLJ7]_G/(6[UX$;V$Z_+O))63%;TCPU"RAO1P>]_-#W+XI?%E*\<+;1^T-% M:'V]38KG=Z6%*"&B MA,UD3E-P,B!^K>:"Z9UV:8I_\@YV'&+3@=8DLMF M%O,\RZC:$KDD<[X2'&:!"D,&421S83`&:W+5Q#Q0KL@+37-&_C&J#"V+7<>:2A9T+?TH",A'ERO9<^.CG0PL$6] MED>[&].!P1;U6A[MGA0R8H;R%)O,.VA6RZNG-892ZL$M]G/=+`@:N_$T"(K9 M@W"S_+9SNZ>/S*.$Q3GFX&;Y+0+GX+3-WF;#*A7^R`PY>+]6_,-ZU79Q*XY01_)<8XDWC?]?0Q=)3 M$MXJ]GW'&\=O.?K(8$PE%62P0ISP@--R]!'.D^*P#]>($V!#0]#HUQ'.@JF, M3+$^`?8S!`U.:Y-V#&F`K0P!()Q2-WB-B6@:P?M5\5&\H)1Y.KNWR_Y_```` M__\#`%!+`P04``8`"````"$`.IX9,8$$``#0#P``&````'AL+W=O1`5/]K(NTQ8NZX/7G&J1[KI%9>$Q0B*O3//*189E?0^'W._S M3#S+[+T458LDM2C2%O0WQ_S47-C*[!ZZ,JW?WD^S3)8GH'C-B[S]ZDA=I\R6 MWP^5K-/7`N+^I$&:7;B[BPE]F6>U;.2^G0.=AT*G,<=>[`'39K7+(0)ENU.+ M_=I]HLN$$=?;K#J#_LG%N1G]=IJC//]2Y[O?\DJ`VY`GE8%7*=\4]/M.W8+% MWF3U2Y>!/VIG)_;I>]'^*<^_BOQP;"'=(42D`EONOIY%DX&C0#-GH6+*9`$" MX*]3YFIK@"/I9_?_G._:X]KUHWG(B4\![KR*IGW)%:7K9.]-*\M_$40U%9(P M3>*#>OVT33>K6IX=V#3PRN:4JBU(ET"L`O/!'I31AWHM4@A1 MD3PIEK4+NQV6-Y">CTWDK[P/<#33D.T40DU$`.X>VG,>N\4$04]Q%`"!HV5*+."J[O@HD@M`MQ(0!3V]*@1(<#4 M:QP$=(CD%L*0".\92[QME@)#OD?OC2)+&D+B+J<^#UC(+/')&!$%/*3^HN

D2:`ENN#1&C-(1P="U@G!!BBD_&B)#Y M/AC7(PQI_!%I"FQ)BWM:E(80E,8BSH/0/@\&@O&8QU>DJ>XVJAVW]YH"F]*X MY<@B,@@W'(L?D:7`EBRK+FT1@K(B&@1^;"&2,8*'4;C@ M5Z11**WW6]:A+7$#,:938U#=C`6$+NPSG)@82F+"_:'`&-Y1583OSFF'-D\I MG]1]+.NWCJFF^3'$E/=0+Z!8V77GK[7%`L[8;(X;QID8A!"2Q@46#O0,UR$4E"SH=R::I\J$/0:8O@ M=HO0F!"K763MT$0_OCA,V;!#3&&J6H_L^Q_;L+8;M@T1:]L0@V^FW*?^Q+8Q M8D:).AO7LFOUB#NS.VT6?'B!ECGN!3/&V(+[U@Y(J(D!I5$P&&WZ^%#'H-.6 MP:VZN]48G4$6_[LUME=I'% ML'5P"VH,9CCT21!0:NT"-5^I5HF88.&',1T%BT)Q@,(!HQ3U022B*!HGD^]J M.&)@07^W']R>F/I8M^YO8:#KIA^O?P#SU"D]B-_3^I!7C5.(/5"2.8M/'5CS:ML89+J?AYA&ULE)9=;]HP%(;O)^T_1+YO/DDHB%`!5;=*FS1-^[@VB4.L)G%DF]+^ M^QW[0$I"%U$N$A)>OW[.ZR\6=R]UY3PSJ;AH4A*X/G%8DXF<-[N4_/[U<'-+ M'*5ID]-*-"PEKTR1N^7G3XN#D$^J9$P[X-"HE)1:MW//4UG):JI?Z--PS"AF$R`[`5XLE('W/S"AI[%ZT?[`#\D$[."KJO]$]Q^,KXKM0P MVC$49.J:YZ_W3&40*-BX86R<,E$!`%R=FIN9`8'0%WL_\%R7*8D2-Y[Z40!R M9\N4?N#&DCC97FE1_T51<+1"D_!H`O>C21"[DS">WG[$)3JZP/WD$EZ+XF%9 M-J5[JNER(<7!@9D'X*JE9AX'FR3C[`9 M<4K@VO4;)8-?SJ0'F5Q")K`6QB%-HR'D`&&-FC%(5"2)I?1=_ZW,'N'TDM"LUG%" MTVA(&'<)X")!S=1V'V)(?<4&%>_7T&,T!^?9CC+.9L1#MJ3?\QHUR!9$X22. MW]+!)8***]AF?;;3;C?.:!H-&:<#1M3@)$L&6_5K"?Q0&&Z;O@K@00I\>S';<_>M9_@,``/__`P!02P,$%``&``@` M```A`/./=R">!P``@"$``!D```!X;"]W;W)K&UL MK)K9;N)*$(;OCW3>`7%_P"L&*V0T[/NFLUP[8!)K`"/;FX,@V3O9!!C^3UVIZ3,)@DYOVNZIE&+7J/H@.91G!3QZ)$6^WT3KLQ.OW M?7C(9)`DW`49M#]]BXXI1MNO'PFW#Y(?[\>_UO'^""%>HEV4_JC2I$>G[:1-`#,>RE M)-PVR]]-?V5:Y>KS4SY`_T;A1ZI\+Z5O\4<_B3:3Z!#":,,\B1EXB>,?0CK< M"`3F*G/W\AE8)*5-N`W>=]DJ_AB$T>M;!M/M0H]$Q_S-[TZ8KF%$(4S%V%3SR5]YBS=G+" MY\GI5#S3:-@>Q+IQ1N_D@\^33QVA&T988GE3X1.;"I-0=TVW)L;VAA,&+W?" M)SH?[*0)"23G4V22G*O'NFF>,P&^?*ZCD-^GDRH)8%9,Q[C741,307SYY$DA M=V1/E21Z<'S%`I'>2QH].*DFII'X@I/S6%\QD9:W=R`<34TE\.<_J MK52JRF6>[QJ=(`N>GY+XHP1;,4QN>@S$QF[Z(AKN%_+LYQWDV@8".X>(\EV$ M:9;!#WM#"KO>SV?;<9^J/V&G6I\T+:F!OQ>-9>B:-FK$QB0"=RCH2J">R=1C M]%"!,?H4#"@84C"B8$S!A((I!3,*YA0L*%A2L%)`%6;L/&VPL+YBVD08,6TX M5"T$ZAR1\6USC:7/0(&CW48,_["%1373<-4(.F(0+%Y)+=9H0:-(T1J":2_A/4H&F* M0#61S)RA!DUS!*K)UONT0`V:E@A4$UE8*]2`24L"N"I^11*(,%H24-"FH$-! M%X'2#1,(]2@:8Q`-9$S35"#IBF"&Z89 M:M`T1W##M$`-FI8(5!/ITPHU8-*2`&YO6!(X`(N?#O#B+ES-,L2\7+A=>G&7 M&OA[UI#$;-]5=.XJNG<5/53@$IXG:N"!<\,RIY8-ED\;2D M!LY[-5>DPLMO).'IR#`MLM]W[BJZJL(T#,\C(7I24(.[[W,[;(-D]:`HBDNB#-4H\%1K>1Y9/Z.B,+0Q8S6,:XA_^@8X*8I"&S-5HYBV95LF MZ=/LD3!S-8SMF8Y%+U^/1%FJ49R:6R=-614%4<9%RUB822UC;V>J4)-,=573N*KI249./30T827U6>Q@!%W5?-]0],O(#:ACJAD:#9A\UC%6# M8U@ULH0GU##5#7:-C.2,&N:ZH4:;M*"&I6YH-,AR7BD&+2O@4?$362'4>E;8 M+KFZMJ3F5E;<573N*KJHR!^F*PW2B!X>/B<%@ERO9]``CZ%XB$"(K0I-!SR* M\C$"(3!CU4P127R/Y.BT3 MH'SVB4P0:I()-EF9+:F1*]>Q#'J\+8_?R)3.7457/X='%TH/(^#H]#6#6:^3 MT1]0PU`S0+V>I@,UC'6#1:^L$VJ8Z@;/)M?'&37,=8-KD8%?4,-2,S@UB^:$ M8M!R0A1(/Y$4N1RR(B_"YQ6J%D=MCCH<=3GJ<=3G:,#1D*,11V..)AQ-.9IQ M-.=HP=&2HY6&]+D0U:ZO*$;*JIEZ$\IN[%JBO@WK6Q2:S[=_ED/62ONBPN75 MX:C+48^C/D<#CH8M"^JRTR>C8BZ7-7CJ,_1@*,A1R..QAQ-.)IR-.-HSM&" MHR5'XHWD:0AA).1,RC>,\EW!/DQ>PW:XVZ6E=?PNWAY:#;A;/6/Y:G-I^5"" MA`"4VSY4I0JXXT.A@O/OI@'O2/,=ED2"10M'\G>-[`B<''K!HTTM'\JO!=SV MH2I7P!T?"C6Q6P,``.D+```9```` M>&PO=V]R:W-H965T*!F0M1^Y;%DQR7B,]HC2OX):.L1`(>V<'B-<,H;2:5A>7:]M(J$:E,I>"S M*1HTRTB"0YH<2UP))<)P@03$SW-2\XM:F4R1*Q%[.M8W"2UKD-B3@HC71M0T MRL1_/%24H7T!>;\XK/CI@`_F)'B#!T+\9.>OF)RR`54>P$)R;S\]#7$/`%#06;F+J120@L(`#Z- MDLB=`8:@E^;_B:0B#TQO.5NL;,\!W-AC+F(B)4TC.7)!R[\*.#\,4=E4OKUWMV M@4]2Y$&J!":<&'""0XF?-YZW6%O/4)?DS&S[C-LE=GUB.>\BH4+@\VJA99>) M^HRV4-PG/.^V5;'`FM8?J)SNCP=[\.W=<[%#3I)VR-TD_=GJ`SM](%0#W<16 M;4B-2C2!B8>93FJP&:]3&TY)PH$)6_#*^+MN?%O%P*EH&:U\NU$B'"6B42(> M(CH.0#K3'9`P'/ZK[+RYK3F@F"$'1HE0$:OF%,V7MOSKKA*-:L37&MZBJ]%Q M`$*=[H"$=0><;FQ;Q0PY,$J$HT2D".618WO=!)O#$@^)="R`M]YT"R2L6Z"] M7;:*@?7?/0:C1#A*1(I0%KA:B94#0QH=!U8?<4#"N@.>M@D4,^3`*!'V"<_5 M7CA1G]%>./$0T?%`=GO:/3C^GI>3="^T"+:*475:+%W;O;&LH)U4*I[J#$[(!WN"BXD="C;(\\>"&UHVWG]N#*2TX;WSH^ MW'C]\9WCP\4'XU8[`3JM&AWP=\0.I.)&@3-8RIZM($ZF>C7U(&C=]"I[*J#' M:K[FT%)CN%SM&<`9I>+R(!=HF_3-/P```/__`P!02P,$%``&``@````A`!?8 M@TL6!```&1```!D```!X;"]W;W)K&ULG)==;Z,X M%(;O5YK_@+@?OI,T49)1^=H=:48:K79FK@DX"2I@A)VF_?=[C(%BI[4[[442 M3A^_]GE]C.WMEZ>Z,AY11TK<[$S7R):-: MG;]'KLZZATO[.<=U"Q*'LBKI_N[+X5C8(W(9Y8C-PP/B!H5\+%H+&]DWKM)^!'YU1H&-VJ>B_^/H/*D]G M"M.]@(Q88IOB.48D!T=!QO(63"G'%0P`/HVZ9*4!CF1/_?>U+.AY9_I+:[%R M?!=PXX`(34LF:1KYA5!<_^:0.TAQ$6\0@>]!Q%U8@;=8W?V)BC^H!)/*!X8" M@^[S64XBGF]Y=PMWL=0G9'-S>J_CC&;[;8>O!A0PI$_:C"T'=P/*H\GTH>9G6>_.N5->;(8);CV',X!N8]2\.-.`/]3TE[4D): M(KDE?"\055(U(R0-Q3A/FLVX#XM3G3QK)"0O!R(>F&?J>W*NKS&^F$GR&K,0 MF53-"-G"DIMGJ\Z2P4*6R_Z_2().0.?$R,54*0E8BV1:(E410A.P*M(=B*`QNKI8XV@ MF&=9^MYJM,)+1%KB803RV7_*G0LN7Y5`H(-JX_8P!K)-MQ)-G!& M98.6B+5$HB726\+W7C8.P0MVKI-V*GU)L$:2%[ZTZ82<47FA)6(MD7!BW5=$ MX/`_<5)2E8A@Q?HC5K!&LA72=A5R1F6%EHBU1,*)56^%Q[V0G%!I"$ZXL'/- MJT+]@NAIV0-IDPH'B*_=P'-\"8@&0.%2K$<2/9(J$=$&=L*1%H=^4W?YN4AX M8?K2?AP.D"+;:$"FUYTCE56L`Q)])ZD2$%/+.YX$'F;2/3=L)O7VR/A=O";%3_MUZ@[H0A5%3%R?&&WI@"6 MWQ2=;G3W`3O?2O'(W<"Y^S:>L!O@*_'0VX2]CCT)P<6LS4[H>]:=RH88%3K" M$!QK!4YV_&K''RAN^SO)`5.XDO4_SW`%1W#4@FW4-(X8T_&!G>:G2_W^?P`` M`/__`P!02P,$%``&``@````A`.J7!(M/`@``J`4``!D```!X;"]W;W)K&ULC%3;CML@%'ROU']`O*^)G7MD>[6;*.U*7:FJ>GDF M&,8F7-P^KR3-=IP;81J,AQ''8QXPU0AFF6& M?_VV$"B>4TM MZ#>5:,V13;)'Z"35JW7[Q)1L@6(A:F'WGA0CR29ORT9INJC!]R[N47;D]HL; M>BF85D:5-@(Z$H3>>AZ3,0&F/"T$.'"Q(\W+#+_$DVD/DSSU^?P6?&O.GI&I MU/:+%L4WT7`(&]KD&K!0:N6@;X7["XK)3?7<-^"[1@4OZ;JV/]3V*Q?+RD*W M^V#(^9H4^QDW#`(%FBCI.R:F:A``OT@*-QD0"-WY^U84MLIP=Q#UAYUN#'"T MX,;.A:/$B*V-5?)/`,4'JD"2'$BZH/[P/GF4A`1!WM^,6IJG6FT1S`QL:5KJ M)C">`+$S-H!X/C8&CES-BRORI8`VT(Q-WHW[*=E`@NR`>;W%))>(Z2UBT#M! M".@[B03GUR)[_TW_*-(50``:H3YI\"CYC>0UQHA(W.-=X/ MT($SW#O;MQL/K[0%S#UM]Q`7VF"CQ[4Y\'5NHRMM`3/TK4]&8[CB2P0<1L?R M,2)H"X%^XPG[ZQ^5\```#__P,`4$L#!!0`!@`(````(0!E'G^XS0(``!\' M```9````>&PO=V]R:W-H965T?E]3-O MT1.5BHDNQ[[C842[0I2LJW/\^]?=U1>,E"9=25K1T1R_4(6O5Y\_+?="/JJ& M4HV`H5,Y;K3N%ZZKBH9RHAS1TP[>5$)RHF$H:U?UDI)R6,1;-_"\Q.6$==@R M+.0E'**J6$%O1;'CM-.61-*6:-"O&M:K(QLO+J'C1#[N^JM"\!XHMJQE^F4@ MQ8@7B_NZ$Y)L6_#][$>D.'(/@S-ZS@HIE*BT`W2N%7KN.7,S%YA6RY*!`Q,[ MDK3*\8V_V"3872V'?/XPNE>39Z0:L?\J6?F==13"AC*9`FR%>#30^]),P6+W M;/7=4(`?$I6T(KM6_Q3[;Y35C89JQV#(^%J4+[=4%1`HT#A!;)@*T8(`^$6< MF9,!@9#GX7_/2MWD.$R<./5"'^!H2Y6^8X82HV*GM.!_+<@_4%F2X$`2@OK# M^^!2$M<*&OS=$DU62RGV",X,;*EZ8DZ@OP!B8RR$>*R,T>I[3L&B(;DQ+#F& MPP[+%53G:17ZWM)]@DB+`V9]CO%/$9LCPE0"Y(T:P?A4X]NA'Z48L)%BBF"T MK>T$<(_:@MF^YX@D&B$G2B"AJ1*35O3N,3@J,HL`-Q$0^C/K:XL!JE'DJX+! MQN8CQ(E&V&BJ\>.T#!@J/MD7CN3HW09H,=E05C^-O"",3Q&;$T20Q8D?CH@3 M;6#PE+3!R)KUBG4T@HH/2>%P*3M<':@13^TB:W0T)F& MQP8^1!3NEN<`N!)"'P?FYHZ?MM4_````__\#`%!+`P04``8`"````"$`1L0: MRV,%``#"&0``&0```'AL+W=O=^^SVE':#5V^/,"]'. MCS_MOZ?M\;CZ]E&=K'=:-R4[KVTRF=H6/1=L5YX/:_N?O].GT+::-C_O\A,[ MT[7]@S;VM\VOOZRNK'YMCI2V%BB$2NRNO7M\M3P:H+2+R4I[+]T8G:5E4LOQ_.K,Y?3C#N#^+EQ:=V M]^%&OBJ+FC5LWTY`SA$=O1WSPEDXH+19[4H8`;?=JNE^;3^3949"V]FL.H/^ M+>FU&;VWFB.[9G6Y^[T\4W`;YHG/P`MCKQS]ON--<+-S+6JDH<&.))_=-=K MN6N/:WL63/SY=$8`MUYHTZ8EE[2MXJUI6?6?@(B4$B*N%(&K%"'NET5F4@2N M@X@;^L0/OM`53ZK`=5#YZGA@Y)TI02_BNI/0][T@G#_NRERJP%5VQ9U-/->? MAP]XZXAYZJ8]SMM\LZK9U8*U!#/17'*^,LD2E#_G6\Q.'P$_"P"8>2[RS%76 M-FP",+<-1.W[9A:$*^<=(JV03'3+N"JQO4,$*A+?(K-@H3*)8."U[XSVH/26 MN%');IE!Q0'S>@B6I.M/^9_ZE`352%$B,Q&* M1S"8L4=\MYG!&65>,_PFW2LM6B+!F+Q"B1@E$I1(!3'O_!9V:WYG)@W%*S@M MQEZ9/>*P[I&OSG0D&'C^3]<<2L0HD0A".+"X$W`I*I&9",4B.+#&%O%P\F!\ M9JOX3;I5VC$3"<9D%4K$*)$((@BZ:)E"1J!.6(HJ9"9"<8KGY]HQCSO%;]*= MFJM]C`1C<@HE8I1(!#$XI78B104R$Z$8M5"-,H<2AW6#]+1',":#4")&B00E M4I3(!-&;3*9DV&45CPALV7HTX=MX=Y?NEI:[11(RV84C,8XD$I&C)1-OH?XE M3UK*DN*BF1%1+>3IY6A!FN.,B&1421="[6"))&2T3N@8D!A72232!\I4W[=P MCK8D-R*)%1"!CNV.!+C2"(1Z1A\(>[.Q?[%O1-L MHO^&KF7&YZH6\AQ6LS!`TR["[]+6:Z@MBDA"AGYN<23&D01'4AS))#*$[C`> MU3&>T6J./;##B3Q8#3H]JR>F9%E\]<&1&$<2'$EQ))/(X-@P'M4Q"`'=,3S# MX*6EFQ@;3AVY3`5DC#$4B>6C#"H)CJ0XDDE$9,!>X(?#>%3'>)H[BC'D"!!) ML1I;VL8;$5/F+&,+16)<)<&1%$>R'N$%(S()AOU9-8IGN8\;)7)BU2@]OR>F MQ%D:A2(QKI)(1`0#\0)7.[537",S(JI3/,T=.?7@62F2X[%CGI[%0LV9+U11 M2"#>PO?GFJ=;%0G"T->K/K%$C&O0E*EW,Y/B*KQ$SKM[_T'",E$"%[70BM8' MNJ6G4V,5[(V7MSWX3M:W]J7W9Y<7[K3VB"RABG?;OB5+*.;=ML=D"34]:'=Z M(:B@7_(#_2.O#^6YL4YT#UV83GAQN!8U>/&A99>N8OO"6JB==V^/\%L)A4+B M=`+PGK'V\P-_0/_KR^9_````__\#`%!+`P04``8`"````"$`$#CXYE,"``"% M!0``&0```'AL+W=OC,A4VR1^@DU=M=]\24[(!B(QIA3YX4(\FR MUZI5FFX:R'U,AI1=N/WBCEX*II51I8V`C@2C]YEG9$:`*9\7`A*XLB/-RP5^ M2;+E")-\[NOS2_"#N7E'IE:'3UH47T3+H=C0)M>`C5);!WTMW%]PF-R=7OL& M?-.HX"7=-?:[.GSFHJHM='L$@5RNK#BMN&%04*")4F^#J08,P"^2PDT&%(0> M_?,@"ELO\&`D/8*`>.\`5&\=_+ND%V4'!H<8]G?+@($0/6;8(]XH#_Y' MV8&A;3YM&B=7RB`:MF=^>S*KS1!.N/IW7@&\U1'R-HANU)T!S%`E=B:,) M4.APC\+"JLY/U$99F'__6L/GCL.XQ1&`2Z7L9>%N:O\!S?\```#__P,`4$L# M!!0`!@`(````(0#30YH-@`(``'P&```9````>&PO=V]R:W-H965TOWO"6.#B.8UM>#?5*(U M!S7)KI&35#]OVQNF9`L2:U$+^^9%,9)L]KAIE*;K&NI^30:4';3]X$)>"J:5 M4:6-0(X$HYPH4VN`6NEGAWZ6+BO8#*YF/W@&_!=HX*7=%O;'VKWE8M-9:';0RC( MU34KWNZY81`HR$2IM\%4#0;@BJ1P;P8$0E_]?2<*6^4X&T7#<9PE@*,U-_9! M.$F,V-98)?\$*'&F.I%T+P+WO4B2_K=(MA>!^U$DG0R3X>C?5D@HRZ=T3RU= MS+7:(7CSP+AIJ7N/DQDHNW@R"/G]>*`D-^?.3?)3@3;0TI=%-IG.R0OT@>V9 MY263]HG5.\2H0PCXZTQ";JL8@@>N-.?C,V/C,6$#&WMA@ M,LPFDSZP.@7&69R.CZ]$SQC$?KTQ!_>-9=.XO_`R,"&RQ%L[[V8@X/I.OX.W M<("$K='2#7^B>B,:@VI>PIPX&L-D'8Z/,+"J]5M@K2QL>_]8P2G/87_$$<"E M4O8P<`=4][^Q^`L``/__`P!02P,$%``&``@````A`$3KDY.*!0``(Q8``!@` M``!X;"]W;W)KRW=2'A[7_S]_?KA+?ZX?BL"GV[:%:^Z]5[W^Y_?67 MF^>V>^QW535X$.'0K_W=,!RO@Z`O=U53]*OV6!W@DVW;-<4`;[N'H#]V5;$9 M+VKV`0_#*&B*^N!CA.MN28QVNZW+ZJXMGYKJ,&"0KMH7`^CO=_6Q?XO6E$O" M-47W^'2\*MOF""'NZWT]O(Y!?:\IK[\_'-JNN-_#NE^8+,JWV..;6?BF+KNV M;[?#"L(%*'2^YC1(`XAT>[.I804Z[5Y7;=?^5W:=B]`/;F_&!/U;5\^]];?7 M[]KGW[IZ\T=]J"#;4"==@?NV?=3H]XW^%UPF'7F]>[JB\AHQ!FQ96.5+9[$`"_O:;66P,R4KR,K\_U9MBM M?1&M5!P*!KAW7_7#MUJ']+WRJ1_:YC^$F`F%0;@)`J\F".,7!Q$F"+Q.07BB MF(H^EQ+@LL8LW15#<7O3M<\>;#T0WA\+O9'9-436Z8%R?)`>R(N^YJN^:+P4 MZ!YJ^O.6JYO@)Y2A-$CV#N(2^3M$=$("D'?2"&FS-;Y?NC=M&E[[TOJWOY8G[Q1DBZ9C35`D9\]`E]-!*Y37"6ILK:LD[:(E?:LH[0%Q&)G$A$!"7*D$E):I_;`!=, MIM,B'8&Q*_!\.VB8")M*@KE#Q.2.J20*(]H/#B*%2%DXJ7?$:=^TYLEY<1HF MXL@W9XB@.)&$*B9IS5T`M'\@+'6%+2NKOH@(I(,.$12H4B:H/OOS2$71U#). MWA@,W>6)&VDBC&SXS#"HC`N92$4JGY]%7'G$)\[7E>%LMR>=H$/8,&;;21%+ MSJ<-CSWK,C$3*4^FJ>0*O,@DV-PEQ+1OL"T,`W/C0YLXB[CR]-A>W!<,A[R3 MOVG=1AXRF#\9LR2<5=15;"Y5\AI5QMUCA.D/!662YGBVHA@ M"8^2:8^X\O3L7IX\G/1V\B396)F^`X3&QN1%G$<$R!U`2,C7K,6]G318[A?^>[6#]-D[L^-?4?#D'#8!:5 ML/*#+>Q^SJT![@J\R#WXW#T4=0_#H#"XHX)CBG@V8%R(Q4D,3VH?E9@8R,)& MF1L)O?O,N&TD5_!,)J))@TDC09*831O&S22QDD]*/+<01;99QI'!3((\#D]& M(B+C/*=4*&#D?/1HR2]RDY%VQ[4B7Y\9!D4F@BL9DAV1.T@LH)G9A#@YU`<_ MM%T^/PP:KR(RR<#+#(/G&NS]FWV7>?]F'X_Y\`#K6#Q4/XKNH3[TWK[:0FN' M*]W<'1[RX9NA/8X'5??M`(=SXY\[.(RMX!0K7`&\;=OA[8T^1CP=[][^#P`` M__\#`%!+`P04``8`"````"$`!LJY")`"```D!P``&````'AL+W=OA'- M&VK!OZE%9U[5)#M%3E+]N.HNF)(=2"Q$(^Q++XJ19./[9:LT7310]W,THNQ5 MNQ_LR4O!M#*JL@'($6]TO^8K:5P6^B<;S#)/II,_GC^!K M\^X:F5JMOVI1/HB60]C0)M>`A5*/#KTOW5\PF>S-ONL;\$.CDE=TU=B?:OV- MBV5MH=LI%.3J&IF5\,'SSP2A7VXT9>+76,?WQ_8@O)/M^7@H:TL MW+'ED=R["C>_(3,_S@SL0?2GVW/PCKUH^.B91[R]-,GS)`_3(3(?('$2CD;Q M!ZLN.\><@W?,[:SWF4>.FAL@A\WYC^HO:_@:<7B/PP#@2BG[.G`;Z?;[-OT'``#__P,`4$L#!!0` M!@`(````(0!<3]'^T48``%CC```4````>&PO:Y^\7V'=($&Z8`DB:!\FV;+<&%$79FM:I1:J-QF(ODE5)LMK%JNK* M*DKLJ[G8!S'F`?9V[_4H\R3[^W]?1&1D9A5)N\>>BUV@#U169,07W_D4D=_] MR\>K<7%=S>O1=/+'C;V=W8VBF@RFP]'DXH\;[T^?;W^]4=2+- MFZK>^)FX+#?7A M!\6KZ61Q63-T6`V[O[XJYSO%P=Y6L;^[][#[XQTK%?_C\*Q>S,O!XG]VW_R\ M^R!-=7HSJ[H_?KZWN_WG[L-#]CBT?3X?EQ?=7S\_+\=U;Z*TRMMJ/IH*.\/B M6;E8/^[YJ!Z4X^*O53DOGH/7NK?.K7@)KX?55D_PY[WNG*?S4AQ5G-Q?O_WA\-VKP],?CE\?;Q4O7A^MF>8( MYIFSZQP?[7^X]WNW^=+2+68?GS[>V]_>V# MWO[#;IZ/QM6\.((\%]-Y'X;#P:!B`#\/68V_NJ"$:8ZF5U?327&RF`Y^VBI. M+LMY51=OE@N34]#WHS>MGQZ]/CI\5_'7RYN6+9X>G_./IXG)\7F^Y-GQ6IO>C^7]:7)[$!_5']?CJ[+ M,;CL\1P[E]37Q;P:5`PZ&U?%YMEH/*Z&/8`^__3SIY^[*[V?^.BB[,_4'?MV M7LW*T;"H/J*H:E`GK3)=7$*:0:"U[Z?[XNET`0_=/N;M'/4W1S]I4NUX)H'> M*B;5HCO=&UL2M7JQO:CF5X4O:B\.J_,*KANB'^L^MKZ?3HR1 M4N-1":9&BU'5)U>BPJR\$0FZ\_/[?`E0*Q"73=M]ZUG+T755C":H$S,F/29LD_>6'74) M=\O0EXFZ`G6K&%=UG3@H;*F/L%70WN]=W\,M`)G2N)R.04G]N3'HXJ8OMZY@ M:EW>*;_%K7KGW*Y@)"C?U3#;XM'!UM??<5_ M=Q\9-S_:WSK8?;CU;81:*#JZ@SI#$;[ M8`LU4<^J@0@Z[JG1P^$0]IY.$%6)^?9HLCTH9R-$MXMH^'EYM1R;O@WR/[W" M4[E$+8A7QM.ZQR3Y.TCI:##J<:S3P)#70707@!ZU;+_W>?.>*OTMI@%/J%J, ML/D/UJGX^TVVWO4)]BBP2V*3[F[;PWIL&JVJHNL[ZL)P8AU^SZYL[ILHX,5;4AWCI?(7'$^GUX58>QTTI-!U[\CPI0KW(0P MTX/>!E],,*L584H8:1;9L;'2'A]=EI,+68CBO!P%52=SC-J[?OC@D.3E[\Y;AX^>9DK0#_\Q.OEU7A6&S=Q9=S#$R'L(N"P@;A83`MTQW0R(.YI>(VGXCL+'R(;-3JDF;F' MJ1,Y)=NP&*PG#&/1G?&"MNB"DJNNZ-_VQP2G/`CN2M%[/96[0;0SBMIGS8K? MD_\HD&5403$;Y.8WP59W M>K&L[6(S8/V!:Q_2*<793;[D6N*^F%RC>V6!&C)UEWF[Q/Y`H_OO&\TVJ*IA M,!'"'6C[!>^GC45N&MT#S.>C20ECWKJ5=\24-Y:[,8O1CV.T,K3-H-]4'!K? M>0#[7T_'UUIE0.0W(MEU,:\J3=E%6XJHSA-@*^/$_I)RG]B*(0RQ4!;!O+;N M"@E-0'P]$M6-$1Z(^,VBZPE[?'Z.>UZ+KM5'2"R[JKP&3V0'ZLON@ILX^:0( MZ\ITG_WE)@-)DMTV9KPE@7"T+M.PI:#BC"S29"+42L`L4=8%X/8)R,NM?_5D M.9N-C5!(,*(\0,$NL=>L96"?CZ\5VL?K-+A0_5@6*M2B+L]%TAHZ]*@?5TJ(+ M4[/E!/Y04A&.@=+!JQ3B&:^D!OD6S_F2\(#<0E,)]@A/Y!;4.\KMA#7JY=G? M8")9!B)+WIN/ZI_8?EU/Y6.RPH?10MQQP43&9"H`E9A4!A#+$NF`'8# M0DCPI[P?IDQK2M"K.3@;CV^*:_(_X\HV]F)2E"%6WBH^P*_FG)L#S&:KR?5H M/IU$E38GA!X6BVIP.9F.IQ>*)XL@V&)(,<6XG%\0C[,3S.T0O17-6UW-KT?L MPUA7R">3`SV1#R&ONIJ-IS=556_!&9-Z.1:9?*P'Y8O+T9Q=E;Q5U3MMCIQ3 M'E`9XIMZ!B?^<6,F4LZOJXTG/Q"FD(\`SO&-;>\2MU3"+SD$2TM`G!<74WQ5 MWR2+6TCE2U\HY^Q_SDN@'1;GO!'LCAN-Z;PN-O$%QDO+;4=BEPE*H+>,<&;"*#+D;0?C9_M[^SI?%%2+*\!TRZ22"94_.RK').>J#89W,U`>> M?O9XYU%\#V'DO;*??HZ);`-C&?+4#PI[?Z]9U\'4'+8U*)_Y<(@G`O;90;.< ML\L$7TCD,19-T@SB0\;+.<<%4M)X90H:NPWO;@E%SKM;Q=ER@6[3FE@*GGA=?2C>3=FQ?CTO(2_:SV;0@R]LXL43F)D=2SYH#\1D`\<*PA*(;!\DK%$&<(,'A.[M)R]DC0N?F[QH^'2/GB^F9^ M^@I*GL-=-YDVVBIF&'8S=U)_HHG/KBF$AKDG?_'S(@%9/<6 M4SED]KX23:X`%G-942HV*(3R0SE'+2[!'F^B6`E*1\Z4\LR!U.27/1C09JV" M/`>)"5N#BR'J6!;?]X])1-E9*LAXI`?&,P!E=2E-0<(6%!4-*EG(7P95CDIC MW^4"HVD6*EC6B@VS@/XE3P))$#*&9+LL(8-;K/=N@8CMM4;@-`I=`79IJ"!0 M4N02G2!M)M[!-RA.,()_*3_VV!(;MC@<*S-@#%XO,7/U8#Z:+<3JOQ'3?OK? M/3A^FY56VW>Q)5N^-,(+M9,I?JBH`+-QH7/3U\]^P0):G4&`B&9:&H M^#*1$2(-J^UZ@%6V>:(F_O]XAUF#7X4,+"[GY4=8;4!,+'<^I*)Y/%U>X)&[ MKX;$$,F@T5S9R\]F*$IDA'*MS'Z995GC5^.01J?9RL&W6;F@&ER"@H>(V%67M8]KN/YL+5P.' M,K+&L6]%BLG"L-H=]`8#NYR4.*32X*`;-]Q38).:__I![I24(@%I.9>+7ASB MN-49FBT7AD:=27]:SE*I`YQ>FRRX6;7[:&=5A3,G/P3&869HRSX"],D_^W6; M-"?0%H"?T:4^O;8['YJG9QX)QE\%#]P%?L&'9%3`B/AD-L=M&A'PFT M&\J8$R&3B&#C_<[)3O']X>';C0^=0\X]V4`@[3:5C(!EL!*L;'=^(BDU-HF"$7XB`/@07/O*#PIYW]M+,F;6A1 MM>=&&F5H-RZ>RC:<*?#0"CB20>)01O:$"#4$>>X4$9E;IF@<%"DA.5 M,='XF*S6".HK`Y9<7#C,N&-8N&,(4FW>W$&4K61_]%B,IY9'#FL:=0]7,FB<>^5TTE"Q$@ZW M8^.F':=LB*M:DJ[U@C!JIE.5"MRLI"J;$.XSC#><]\+=@LR.XPE75XA3&X(P MW8=N0T1G5=3$=4DS)HQR.\]GM,@=-E.1+<2:238O5U;`?"-\H.%6GBJ&(\96 M/D)TV2X\SW[G'Y211PG@SNGI.0PFLY-UR,&4SL[R5=M-<@S&-%S-4*!P+QBT MHF*G^6U'NOU>[0N.3H@`[(HOLXES@-9!<]\V0CPB\;B'(L4%W@G^D'@2#G22 MYM9*3#&L\HB6?4Y(56M\3YRLIB<^L3^.29RB-$!.SURD@>8C*\,:!AH2S,U! M?V/1/2]NJL?D1$8,PTMQEJPS'MWOF9;*(50`T5:,1W113%6 MGY-Y15?IN(0VK^0_XG/&[$J!9P!11%%XL$JUI2A#M,^7AF>8N[J)X'N5P@!J ME)OT)L4X+P"VJB`Z(R*OD9;9+!^O:AJ^[NH)I#N;&@:ODKZF3*"T-AKX%"+B MB\T4APZG4%EB@MM'Y#^3)=/S0'^4!,4Z7.I\Y1Z=WZ6B_4OE0MC^$>NI>`_M M3]75_7):3MH*E,S$FIK5(<8/.[R$`0EF2&K*>K"AUW*0O_Q]$^//W9%#-V52 M\KMEQ*UBA[Q@#X-"+R%,B3,=D8B& M:U0ST+N:-W%>UT^+#2`.4/O=Z-X$P6(!ZRJQ.I%7VU@0G4-T*%EM`H`,8S(: M9P0M)!:N&SH/L0),V: MZ^(T)OB,PH2V?6>`DX6-P-$$TD&N.SG#QHLJCI:8-*KH[CD?DJ\!VW7Q+AU7 MN:^(RWDEGV#)2`0]3LH&M8&G(Q91O#TN#H?72DD-62-K3GC6].D6A]YQOZ"^ M@^:V[#;*63:'LIC-P72Q5O\J3'MR4\MCL5>.GKXB4P7_@POGU7@LSJ:)T5;6 M=R\8@_[T`E(\K)-R>)MGF&4:,G1TQV;)*IX(LUES&CGX4<9=\9=85:_?2^VMJ73@]"9K@`N"RPC)G./%T$LCH&(1 MA!,_F`J:&4C'HC-FF[/C`2)YN9XW,(<\,YQ)T\&K`^Q:%.&V"I/[@P."_3RW MMI(4+'9[=`;X-9XFQ`CCN>#XCBC/BIT@OF;/*IP7X7@3[*/D`#S2=L\]ZK)3 MC)8;$,LKRX%HT$UB]))`H$YI.[,L[6`T'RROP!4"I0>6T9+$,3&VFG`$944# MR^@G<22/:;S!,?#?\19&=(R@7*N/)%+9`%*_#F2F\KW!X"2&Y+N2$T?)"6B$ M7KT-'CYNHO%#"Y0-U0!SFZ4>0#D'4Q:DF95>#!FFR=).P4AQ-4<;8I,UL_&# M$)H%,4+/@V@31*RSZ?2G=O@J!V]QLU.\\&BV!:+\*/5:"K3VVZ0OIXDE26:/ M;U2RP]H]U6.J)+K?3&BD M8;=03:83:%KS.BZ@KJ5VK2X<6$&0-#D>I(6SF"@AP!O"/ICVC&T",I`J/#I+ M^WF4K:74F`:R\U4-#?"7^#$D<&R,.#RKL\-X M$0LYWY@HJOX28WD\Q71>?!B^.N5^L._BVWAU]`Z[:7G8X.6=F1JU-2L@/ ME9D[KQ16L'FI(#QV'IE-5M^>_/OTXO20J>(G$EB`:+5ALZ@1V2KA%K#H9_[8<6A:0)4Y"0X`8 M*,AISQL4I"#`@C(QJ<51:W:FYH9`[YGI8&0>*9"$-I@U>82@B?T%XN M/3:DZX(=+$;;0YW/D#M&5X4?^JB_-;9K$*1Y!7;R-A'4B"W`3$D1<=O3<3GX M:?MD0/`.-:>6632-)`Z\HH=S;-%GR(+>[XTH#6YD0MIK.9G21S'WL[ZCR0R5 MY@$7XJQIY=H-I#OD-8KA8I`V+.B3AL@T$F$9D+4T=2+8 M#&K0D`E36?$>A\%KLLHUP\=86'O-$IN>\I1Y7G#/@EG!Z`9)I5J@YK76^AN$ MLUYLS\;+>OL^Z9>>0@T@LXYBH36S!87%EA3_*$SC/];4 MU5;T%E_QNV50R=Z2F`GQD*>["X&JEZ-6"HHL]DSKF+PV@IE'X[H:O-=0F>I< M`ZB]^!QCBG\4E5)$P3=J+I-`Q@>\B%$`TWJHU:7HD5%#O7JTP[$;&NZ`A>R/ MHU<'=E4M3>_QA^E'![Y8DCT,ZYC7()6&WK*VSC25=;+Y,%LY-;$)S['2Q5[0 M#SQ(KP$!)/&%4"5$&2&W,FRJ>!Q__/!MDPOU!$0HM:2M!EA%T>*":!6M:]EA MN6@>S-+\P@$>A;Y^`MG[C:VY(`2T2=W>27T`=0>2OM])%3,"UR)&&K4\*WEOSM!@@X1AGUN)U M:!;E,W-\MK*!X=!+JWFZF2;]:EJ+MO`'QGG)IY"M7'5LM27I1N^PO%@#3$:@ MQ"7?T"F)7YR#[RQ"#['JLAQAWQPQ(G-RH3,`T;@A,WU&XYFY&2$5"4PR5A&S MS68L8K#)F&W@[8TB@7G*90V+G"F\T8D"+2IKMCFZ?M"DZTF(D!J!G=S-3:95+8]DY4.%"KO25=*`R20X9V)M0`.OT@GD'FH^LK"8+$O=-D M__%O_^XZNRF1>D@%ZV+[V!FRZ`%I1=JV\AI;CD[VCIC MD*!'P0]V6'%(V(!E"-,2P=J%9B M>&O%;EWAX+]X2H,-SKQP>>$%DATYZ,6QOB[&""UTEFL1\XDT3(:[ZJ\3(MZ=#'O'82XQ^)SBV5PRE^$W"FK;34C$`+0H=A4*# M=+C"8`)D?-RD(F/32KE&7$CJ>^6 MP90M`$X@&N`_T9&V/3W?#M!*2[E&=[?BCD$-)I1?80Y8R+&0W`9H0>[>:FN; M38M=M-504[!T;"+_0RF:*XT@.'.,09]]@A>-)Y&O/I M-#SFHH#)>FUT'-%4M:1.(ZTA-1IBESZ]=^Y9`4+4=L))/5+>4D4G/\KP7,#+ M8\4F>?^X')W@:T"U6)AJ)ZJT0C-(ZG@Y`7N>>).QM)TN*7L0Y^K?WLW'4RR, M1I-T[7'985M-YMYU9KT1#&^.-:;7.DKPFL2DH+-MI351I`?)9KW2G#^(>>\X MB]IJOE4C6_16M4=?GH./!<.,S7@W6_YF#I7&;Y[/5:/ MDN_E/Z.!+5V+;<0C5P>MY-CL7Z1&;`?1"2T,IYU]PSIA59(H9J^Z/`K<4&HA MRD#_0T\>H4W,=3&G**AG.\&QUL4)_GLD"!,L:&;#FX9B;L\3F$KKJ:M@58C5 MV_R)M>S0(@TQI7;C!["D=!VX1*49R0I,95UX9! M^ES]->?KHX9Q-%C3G-P'IFPKDKA7?&:+#"S9JQ7,W%%!Z>U'!Z:[>SK&W]") MVA8?MW@SK1/=L13R<8B#%T-#"*8.+*PH#5(Y/["(A$KE8#FV:#MA)$C,;436 MYK-6:DY`LXYL5B:1T_DY`0.!$7I@`>DMCI`JF^$2?(QG2O?V_\#I11-\&.22 M`HT?^M5L\7TREET4N<+P]U9B)AK47X:/7G1T>@LZNS!]UGW@EP7ERF@5J-VW MGC59I#N!MRQ'5&U[6_M[7VU]]>A12/M:@B;*%$2`9E(CT)6HT?]]15^RHN0U M,@/BBU\`SD$+G"_]>KFH)]$/;5CNL?9A]SXY6^"27F9/?LB!"O$(PIXI_55X M;NSC%,4O707/!E[OL>5G^SL'[W":+ MI%2K0PKA@5B>P:N4)!(DQSVD(HIKK%;5*YQN9%KZ0R9D$.$@Y#U.IKP@F-*+ MA/'$83JL%5.[*MJ>58L/.NJA$4U-JNG2%&0V.:J`J=PF&=#.J=E"^(Z60W#G M",]G^L$\&+0Q)$+OCCAS$M*)\20$56%QN115XQ5JO;`$OPJRZ/.)9EZ\L!0G M`<18J6"KBG*+K]]U9.EA%%N&$W?.:*T-IR7T4SQ@(P21+,)/\OS*QJJ:]09@ M!!\BOB ME=VR#BJ1AX0*^#2O5\:;JBO9=G\8R!FJ#LF'3O&`8(L<9?F[UI4DQL7B#6^! M2DYXK'!'>0&_H,./"_4QY1Y:<]=I7"^@/$18I)S"L;Y6]-)7`4_3=6O/PHUN MKQ'HES2O%F_QG\P@MDV)%80",<*]9.@:UY/!T&5EHM^FHD5!R@$/?-.%0SPJ M96U7U)&$MQ*@J"E+E5"CHFI[@M!2$95INK*NZ;%@5KP@WRVBEW5<],HT6\X[ MEJ1(EJ%K$@.;@[&LLO4<%>CZVW16!F:(YE6_D5; MJ3+!OBV_Y$"O18TX)UOI;E2896SCP-0M"B^T0LC^$4$V.4:O2I.Q;*$Q]0D# MJ1Q7H@5Z+'3*C`GWTN(&T M!:`<&?FM,)#E(5HPW;:PD-TNJ*D68VT;I@V40EIBTGS"D%A;Y;NOX`@U)#>$ MUK_$,QF1&Q^\IL^9@PX@%`V&HJ=&#+WLOM/5C%/W1RG:X[NFIY67!)2U3$$"5K:ML&O M$:(<5\'!N,4GMX\"&&Q]4T&A$Z0NWL\45&*O MPQE\D=?"3/UQ9UMLXU#A)N!_"1B_`6_BNY9 MB*I04PT"YF'+(.AR>GD@.IU"`A(7,=I^KGA1-\!'/$";TIK9M1+_TJET$,@$ M5R3-U,\&-Y+4GRZ57[7.PQC4IJ6:>1$F9E:/E6F/[&!,]+S#'#/=PZ6E+`9< MV#Y#'Z,5Z<1UIH9!C+OGT4<6$\4%O0]`<3UF+;5!\N\L%Q,+ZN;:;8^IRW*N MN.GIHE)+E#"X1-?)Y04#1/[J.'?4^W#2U4IJV7#5_E'93D3-B?ZRSEWUFH<@AF<9?7KJRV?7+19O>IU;[JQ" MB$GQ]\[2S8'?`)Y.H^F:@;HS5#`%`];=6`"PRT%BVM:^OETQ9;/-9OZXXQ43 M!@QU(3`>2SZ8+4JW2#@\ARFP_K4T*&,9QH2[`U6[G)[I4`J4P>O*!@790G;* M-6B71GJ_HF4N+\EAUR6$S[N^YF1Z5L M5K.+NUZ(D]E%2H]%C&+%A;)VEHHV5\9/JX"&I.%#L='.*_0/58M.@35"R$H! M37*.X$M*LP.O6+L,L4Z8'DX/@[HE4PR.(M/?\$^3S[P2OE+CL,L41@LCF"A2 M!^%E^3V<([.E'42&YQ"&Z#*;.5.@IB\.:38GL1(4J'#G48+EK_@34>%[(?(X M.0P`&E,+-FO+S*Z1ET3UU1K7E\;%6/.Z!#05%3--&I6KZ?\<-?FF5Y!%N,^: M@^/B ME\6!?VYX,.$4"AN79`TV[D`F.PAT=G,\(U<&G,Q_3QYK,5C'6*100VC)*8$\ MZ$G&3^X&!E]9V2T=T()?(7:Z3A$EH<;B?WK+Q,MJNE$[HWA6`8C?^-+5*Z>" M.G49.52=LRA'1/6($2*9R4ECJ<6+2F#="?-J5E>RL0=J+WM_6'_Z>7K^Z>=7 M\:,DGWXF+'C8W4VP:ZL?[Z]^?-!]_-0OF^P^/I17V(L,7J3CO;"9JC7=([:; M>[WO)FUWI_;R0G-<=_54W;=>TG`0/B#4_>G(SO'CBGG[HX)ZW,D57]Z!1[QF MA(2LB>2[<]N]ZK_A_(Z,_S1P(^?T#K)T]_4B)@"AHQE#Z3K[(SMZ+VE>>Z(P5X:'YG8N8FUNU!V6[:XFY72SUY:!>O\"(R:=+R001, M4_O?^\&*]/3M*MFW.TD0:=WGC'>8[FKS\,DRI(GMOO_A)Q:G?5='_`WG.59E$RL MDK/Z0)5W&Z17?=+_ M\C,X]%D@R,0XL0N5!VP7XYC.,65V#;-M_EY+@,UR^^ZRH<'#2_O%WTK>P"\_ MRU.\QWL.LM3N&PD)GI;O#OAVO,\C[!`>KW+L8H`GX6MJ8;_F(,^1)5`\A$7S M!%!QR9;QUJ.,T[7<*G#B&55YRFJ$)"3B;*:G9O3.&AOT>>9Z?(L.]B\4&"S_ MS*;"818=;/5TF-1[:_:&W%8JPF4;AL\C)%6X:IMY5Z72V)JW]6(S[P[!9-1< MX>H3\:NG<&,EMAE.-BE=*1BU*HR3R77NQYL(-K?C`86G!]BC&D/3%YLD'D)_ MH`3CLA6A])KI-1\.^IU9S2R7*:$A;+)*7#^7Z#Y6\I@C`9M9 M("5Z-!5#8,J1(^\5E[V!R7UM]7]!%U\D*9QP#JD]12PP>:@TU)=&+%%VACZ` M*/-MXIL)GV7T8KS=!&@G=U7%;J[KW@]>958(_`TOZSYI/(.3)F_AE,@@^&U* MD6L.Y_=6_PWWGZ7^[;K:F"CYS??^A)[J5=YCVT]48PVAI`M[X$$\L-SD6]!L ME]G?%I>MX.R$YJQZBJS==7=[4PFX=?!=]0#=2G_K!&UML'AB-Y:_)!WMYX2Z M/[_(CKCK:]B6U_&;#/TFK3'^X8++;N0F+NS"]N(T?7M#G\H@;D`.-[2.7VDC M1;K^_O&4A1Z@G\+DM.IRW0Q^2=80ZE?5B:QHBP\AUZ*IN3Z*J[;QRV@$5^3A M)>_0+A'N)T]JZ\K*#0I4[#5WQ,.M\\/YDO@%Y69M"UO%H>J[7&/_'__KWXM- M]DBWOZK""^[$SR_EI*)4<3L.J:UT`5`L3`@\TC[6B^)PRZZ$)F:4&O9".%Z) M`EIQJ*D)#[YEHQN*5DDU-COA0\U\,H:<#9-(&4L)$Z1H2:U@`94[.PDQ.=1Q MG#JQF;&[!4!:P1DGNG/8KGK`>^8[Y9KD"(N'/0; MQ5#I%E-]@@::36>SGA;FKN@P+Y1M+QA?O" MM5-\LHX%I[`UAS58Q!.K,,3Z_HU<&*BA1H)P%J5>PVBKUIT+E=EJ=7\6':CITXCHU>]/KK%JL;Q7/[*Q@Q)N`:\G#R M7M_S8`'"8K&J'8PT,3%LQ@\F`(3^G116ZW,(MBQJ848/#RTNJ*'!G)AS.\T: M+8RZN'IS=Q(.YIDUVSCP;:Q>.`J8]L6]OR8!+F"^-+KR_)S+8/1#"WPG'B12 MN(*@&4UT?,<&_GIQ5*\:W>W67!Z0[7)IWPGL"J/'G#K.%E<.FN&,.QTDW[?# MK!&*3SUVML'ABQZ2)V-*$]V[V4[CG4;Q/!?:,?M4PVKLP\=!K7G0FT;UL%M< M(H?H8M,,%-3&N+H72YD?IG""F:H4N&$+6=,6%,2F/3-DM-UW,%J M'MG9[@>F=,&*3Y9Q1792J`08WC>_PW5A'!&<+/3IE;.F9V0-NPM$ M,(:TB#X)<"4.\,GYNMF]J&=R@O>E6(-MA3:,)CT>95J6+.K*Y%3)@=2'=MC% MXG?_D,CIJQXG#069ZY028;, MN->\'VW;!#<]E-)>8$%O$ M5'MJ]'&5:'C2<=]PI)%\@Q]I#&V%ZX78KJ!;,:]PE;Z2)VX5);(5?%UKI38F M!V",N@Y3QM0:X]W868>:660#G;G,*U"GF&E#@]!VS[]-I.9PQ M]Z#0[LZY393QUC_HB?_IVI:@82;X67'U438(#%UA*S\)6HY=]Y'MA[RJ8TKU MSO@=K)$[BC9%^=W@#8_3R?'[0%[^EV-QBC\K3AT)L"=JNZI%J M@]PDB6\6.N(3#<_-Y8_[YN9!O7=(OFG@EP\^.SKD\VV-VF^.%N*O,TH9Z9@3 M?*K/\!!.4L^8RYA)2?IVPDE)6$Y_6:D2-/9V1B\[:21=Q0CFLITULM-DJ_Q: M$=\GNW$8`D3F9LBG"E:'#619+N-,R6[(T1D;V42^L-BNR0).H\)-?6_>MRO" M:XE&#S<-;CZQ^2]-WO$I4QV"LX.=[V14:PC!F2VS?EUV_!%[ MUKY$]=;WK>_!K9`5&/6%0V[S]NC*K\A-[OF_+LE?$E<]EB*YEE(AKO1&1ME4 M^$_&Q'@*5`7W-#KE,7MM,1E`-N+-I!X'+S[(&\DVFZ?SPG<"3K8YA1;CL;MO M_G<'1U.BYZ4Q:QWYX3BBCG$VS;KW`SVZU>M@--UD-W"C$NG)Q;RG2T[]'`C< M&^(OF7[UZ6"C^:^!MF[:-`=0+T9C&ZN6.^BD<[2$5?_,IM1>B+Z1PI+!P:]! M#1$?@23S2W#K*+MC>DPX#?7RTW'#M0%`3QV/,APF;0[.`Y&NHCZF M+344'H,5)L&]0DEP?:1B6%;`6=M%4L>Z^X"/38F,7:[B@7")X"U@&O.%.T4B M,V)(KR[J14+_M>2BR3GL_/66YG_4,PBPJ-&S]N\Z:,F,,T.2(V4F$!HQI5?6 M[7BMF_=TTLOFZL3>/U75S':#6A1.=?.*$BCY0ID(K.*#.%9Z/*-<)[:V0E." MM4L8U^(=>*4&V_OO`"^170MJX.AP`@QTAWM@U+\DQU=4WIB-+BYNN#EJ\-.& M]XWHJ>Z2[='BO:35,(48>V)"3-#CI2B@]V4I#E:57$[H4^\#%C,*B]8WF:Z, M'(**31<.+`3U%>0#,O&7FTWKK]$=>KJ9@UB<,\R4%3.%+4-&2IH0: M&0OE-=,&9\HYA=Y)WG<^SY@N\8*<0ADC7K`CD=W\4^0*LQC-6YMEL?%*&H=S M7'(CJ7B,.6R[0=X-%]8$A!ESB+B315)N_*-OLVK?5CGSB_ZI2%BV@H]O8C#B M=\V+O9U=R_AH`^5%:+&2S0C]RL%3"\CH41$(QA@[Q='N4?GW3=`%0<\%W,0T MCNC#7"5IB][>_'";'_VT3M\EU_ZDNYS<#(!HO,+DCZD6U"YK1[9BE+#.R#-3 MABP:=LV(=!Y@QN_IK/)GNSO[,='28^OGJ1UJ)>P-52Q%U"&-?Q+H%MI88(IM M#2`:#_X.E%%8?%,<[*(-19A&ONY#+A7)G-LLO0DFO7763,NE>EV;PU-2(XU! M5`(77L92Z>,DJEB]62+7=G_:/0G_GT1F*Y::Q!@%^C#:MUMQINT;6@1:">1^ M!'*B;H?T48UC"H7][[^O&G-7<>,1Q8U5[W6=R9=D%K9/T;D%Q0?<2D7);[GD MHCONA>7;O_)$6PB`R.UDJ@(/6H*A>JC4`E[D5YQ$[,^NE]-]&EJJV-3X#7M! M_Z;TX8I5LU'E;UI^[%"[U`9RB:H)X(I-*"YMZ[9=_W2;044$(.T(^OV?@HXX MUIULM^Y4([(;X)8DC1F-G8Y712A]C"JR:)WML4X^_FPZH5N"&^\&2'DZ>KKA MHS<>*-Y$O:5@D20C242?)AUZ-U_Y,'T8('[6-^&":`Z?:)Y.+^08N&7/!FNV MD8`!91TLBHU`#?&5!KHLQ%XP;Z_YT+M,9;@7H*?8G!WPK$2Z,)O80;YWX.:& M'4K"F*$G\H*^3_NSFKG2WZ*J16/9Y["C->"EA]DALV`CM'*4^^:$9_@QH8V$ M(CZ'>;N9!89SM6,L MYY*8%WX.^'VAS9^-.RO332F38A'9%2*P_(1W1SZ:H MI9PK28"^=655-+=">],1R7CN[68W*D3212VRAG`&HJA'5$UWF7_=LF62]YLO MJD<6LJ6OL2`Q`8&M]>#'@XBG4^6>F>]9D@B0!;K;7\;#LR7U(5;&S96G:G>F M*IH.&48$R83,L:G[)$0KYDDW+L)QHD'U474IF`"GB0_G2EF\<7WUZ>?DF>O$ M';C"H]%:`@_';LUM$#^&KY=T%7>/&L9(4.I`<$`1BLRQN(\^IO;1=L`8L`X@AX8B4!R_RK47$ M@#>1L=?6^3K=I8]&DN(^\52`!1>>"EB'I19'%95'7[[2Z8);/X+K^1^PA%-=>/F[2XFU`@WC.T.,QN`:-2#$O%`@F#=_V7PS^;\I&?>K>^%,OEA)!W%@LZPY+_!3N\3QW,_I MHJ=.FQ.BG5:XQ9/5H^YR0[^$+U:_V>;LQ9,CY=_E2`T+]X*+-_KL(>JS._)- M^@@3AD^*S,(H=#+:3,A#;:G?)DWGH@1A?#J$C6T&+6XY';K3+8175IO@;]E\ M-=:M"Z&S5+)-8%14H,SY9CHG=`$BU1JB6/Y?2M^_EBXR^VS!J*W0EDJ^!,>C M":$3D&86Q$Q+$DC3XC/R5ZD]07V>B*W9D6PS;G-\6<$K**.V/E/1@2^V^77. M,&3X1"[/Q^4'VU2K6Q!O:*-1,_ M:]6X65D"]Y"$(AO:>WP`Q=#OYA:J5PDNY;X4X<+I8!D/=TWQB]#CK_]Z7Q=VZ3,$WC4_Z8OVH?ABK/G]#@TY1213Q;7 MW>+,>@.^E1!2IBW'N3EWZI^6:O>N$\#/>CM([R'@A!C,2+,IMMR:.D@JDN\/ M'_&.6Y%GZMB843+2!9`.#/X3S5KFQ5C:QTAW7L$.Y5BDQ`:O_+:QYM.V_%?V MT>`4M.2LTF/K<"K2[G(76KTK&)C814IZ3TB;M!+?-J5H%22@88F,9=/KK56Q3\'*W-/%VHF$0_ZUVUL$Y[4"JU$MX+15C'KS>QSXQ^59PD3 MO#$@Y`,IR1@+MIT:TTQ*C1=[6P?[#[<>/3J(^&`G/1Z-.,(89$A21!KN+\%F MA+XDW^:F_L5,XCC<62CRP)01R#N*14KR9BWOF,Z@1REAM:8!M%%(CE?G1#GD MV4?LM"C"Z;$E0'26^;)16#*59.[0SF7RP>->%18D?8P?7.@K'YNOJ2X5_Z]\ M(0QWHH-:/P.,=,6$4=MBZ_.338'0"Q/?'\>O(;:9>?$DVWG[E.X.=L:TTC/8T&JBW@.K44#IH3YAR%6D_DF71L67W/G5,*`'-O;=0(O% MX93KZ=CLHET&*M[&JBN7EDQA9@F#:H(+)4MYB-$D@Q0:+]5$Y"&:5"=LM@(I M4>O3;0-Z=3N9OFS*5HPX)`M2HKM);^=[Z3CKBR?ODY5V8\(63`6OV:+;DBBW MLN##.;9YR#>7@Z\A_;WFY>`G?/W(\O+-[D/Y?042S')\O=L9?^OUQ&NTA2'. M\K`!,8V48UML$W;Q;UL-[>X\CFHHB^1):A&2@GN]Y@F:C*P0KLO=IR#%[U)7 M:4`YKW"IJ.PS](8[-Y@[AR!<"YZR<_.2.+"/?J:2[^?+%TS?O5)!1.;$LZ`A`:F"- MO9U'?R`AJ8_#//H#6905,;)S2!L(X>I+7N5+Y%2PC,&:/2>KOXYK2#\MB:JQ M*ZT&Y4<[Q=O8],)6.I*AK`$Y2?OTL"6N'._;=I6AA$7CO2&/WEQ#"EG2X$L# M+M7?R@0+[MBC>(*KSH>*<[];.[#]:Z;D;#WXMM53X-AH-DO*#&J=+^WC@GY+ MGYQ#M<^8A^5&R/Q%IM<7_V24].^F<-644KJ[5O*A5L\U[A5V+*4GONFSY%_) MX'79E.Q!J(U%Q'9'B)'39O@6GUOV]!%8..0S.AJ5A?'@,S1&!?(H]2:_[#)SUK]D86-A560X/-_V7O7%?K.JXX_BJ;8+`+)Y(EN;$-K>%8DHL@CH6D MI!],/\@ZQT0@7]"1[!CZ,'V"/D2>++__6G/;L_>?G8"`ES M3S7"0#``IF8]_#X^JF"U&DFP4(?FHV;(WFL-,KG$!M2Q1K=XC2@*'09IH-=V M43&L.V\HPR49$\&W:\N`.[N!Q(0L5Q:-)U@8S(4G'BPRHC)=?)T]!-J"S`"W>\X#'5>A0TH`_UB]P MLV':3L-DL4\Z%>$K?-JFZ28^G>^\BR!(LA4G++"<'`B7QV1W54X0?CG6W\[PYPVS"+= M9+O#!EH53YPBL:ZZ!Q[`0M\3;)=-XJ[KL#$=$@":BSB;?[NX@&LX)PW52T[? MGU__=/Z+RW1V0/_]U[#WO_Y[,(^OC+W'/T*IY`]8'7K1`=+$K87W+[O>V"Y+ MT)*$DD8A]+8T1YKR`-\EZ&(TY?3>YQ_'$0!WDT2'Y#)ZUG@WX(0+VR9O(?D4 MWSL4:T\_$]X/69XR(`.]N\AR[Z9XX<&]2WDO,9!Q5DKLDFUDO-(3GRPPR M)(LXC>0&)V07C-R^SJEUG)Y8ZJ?-D(S%:,L MM8T!)[`M"WA<_A]^@_;@BH2^+W466U#P/%D1]U*&J?*M!D7O,R=!44G+$A&\ ML&?@*,9`"IGL;N&1S2EW+W#*OC/GC#D&.9V#REIZ$#I#Z:8M*>F::J)BUUHDH#J$O?>EC!DZ]P2QT2'T_JTT,=TU$ MX@%NS@^;3#,:MVM]9#2CY2P;R6+:<8)A!VWWW)T[QWD6WI"W;5=WP8AAEU^I M[UA`-M/H&J^)WXKSU-U6G)N]?5$+4E-0OK\^I]?U),?>_?K.C/VR;&M&(^D-Z MOX>DQ76D]!UC]%GL,(W@X:5DR2V)_9+)$5@8O?K-%%)%Q$.EHFJ]B$A2 M'-Q#Q50]QR"P6]W^H`?@W!)[YDL8=6YH=R1J5^CYV6>LZR!+C4?P9AJ6&-LN M*>PX;R[D%5!):AQ6Q73$=-,'/,9!<-;-359'$* M3FH6;$\1BC(YG=]U]Q%CMI?='D/#A?1=.C@'=[ MC.-A0;T0%>R]D%(0%4;F3E3PRZHSWWU5`,ER6(+4]Z#!?QG-V6JO)".H"EZR M98'^WD-2"2QWYP%/`<7GA]R9N3*>E@R!(J5UO.!.68+>ZM`H/^B>_=^GJEI< MF_1>X%^1\PQ7)Q>S*!]E6NLVBIEJ8,PLJ#(WU[,\$Y8@Y:0#V)5+TOOP'?D; M6(QR*EVAG#K"E_L]&P4NF3168X1/*LK�,NE!6I133=AF`CCV'3`0ER>H+OS-W/[R M->TT3WP)"?"('\P"'^R96-?J"G,H*K_^ZT?VDMFVOO@6$QQC,=23YO2^=DVZ M9&SN_9&0;.,2Q$SQ:%[&6/08*SF1.,-L.N&R49!,9KPWR\G3FW";,]E=PPJ: MIR'L(OHY%:23E#)I`OME)L&AN]7KX9^-`P6I2K1ZK*F5=;-K_7WA1!\O*5J_)73(?%Q/*F1>^#;D;R0]J3SZ74_FZH"OP(+W*^9-WW,^?47+JS M`OC7['T8PHIVWID,4KGGZA&^6(@MC3A!?S9GQ('P!@>7N.8(]M?S>"HW)L]4 MA[.$MP`I(.?OP&JM+_[4W?OQ]*"[4\FYFR<'\XNM;L^1[8.:S],AL`#_KPC*EDM_E'/.:.O0^([=$7Y=0FENFEYB:4FIW0@]//XOJ=%\0`@XGK\N[NA]A58"@^C M[SQ25EYEH]\\F>;0RX<42I.*EUY>,H^63N/VQ@UU&!2![.H!LGH"ST."PLOG M5MUL0!7[YXN?B9A."WT1&2>DL1 M1-D[_)O!R\'F!:&H(,NQY0PCL!9PY&67Z`2]SNK2BX$<(%VOWGGAT-;^_@WK M6]!/M9_.\*6'0A(<O30A8%D::[BM)?;N!&,G"-W?3^AL"#%;7O:WIX MN3.@M(*M#KJ/EOW]E9EB=N4\C**X@#%)-?8K#SLI"N^S$5M4<&A M,F)0TIR?JH+MI/^@S)'>L#%*Q"2["LF/RPCP:SK^=D%18C@4/+?W)F/5 MTJSX'3H@MM%-7EI<32"^<7&5FZM*IM[E84=T/;J]1-^3+BD]\1PGW*%42;W< MP=A@(/'7&:C[YW`D_K9BJ)J$\TC]'5AV.FF!&(K)F(1GPS3=Q*P'@3^UJZFN MU@=VNN**#^&$P;$W34ZZ`$?NDO;(V^?/N6G935IO(RG3);HNM3 MF),>PR%**J!I9O^`CC<8/R+8'10F M3H(4&2N?66_OW5AYL_[!!O^,11#I0->R>E4X=5]1I0.ZEL]VN)'UD-./^#>0 MM#O;>S@/-B^G:;C+&,0*[M;,R\*]DY86T_V$!:DG@9@O3C&#'/!M#`IC0!&0 M=E%+J>YLFMR#8Y]G(JJ_.QVU&,?8:OUE8>WL"E5T^K+LL9QJ3OI;=*=W&R.@X9.+4%!L8="H'`8:>7*>J12#RB7B= M5ML/8XG!=>.0GNMWUL+6=8O$G3-J*S'IA4_+6$%>1=U#N2-WXY;T]+$X1J$] MU)WL;3U^V#R02,FM`R.[YG[SXT+"'5%T\/K6/(YQ2LW/P/NW^]S9>O2X^25X MM"S?A^M/2/?F8PZ&Z%MI?1 M[\O=@=(:]Z[H38[0`6V&%-::MEN=K6RWQ$$# M#:5Z`GI\V%2-4GET/JEB5U7,=C3R1T@FY6W5TS*]R?+1!/ZSN(:GD%EVJN"Z MBF#(AZM`;4-J5E$Q\T^,I?2MX*G'O9S`*`I<*'=;A-H'2-9I83UB74*2,4NL7HQ1 M%GN]#_8'L'2+MVH2"V6/R+_>;&7>VD*&+&.;UC:'!,%R0WGV"KM#9%H3#8EC M,0=MDHB?YUJOWWV4H@OXEPRU8<6E_0#K7-TR[DHU&%7NZC$F"NJ'`D712SSF M00[78`QH4 M5D1(,++D+;^IN./*))HP^%=,@6DZW`.J>`J/TD[`U%F])X+]7 M[J!I'F/4+8RM^Y8D=;1D^]IP&:@]^/@5USC#Q^N-BUID/X6@;F47M[7W+2:V M1I1I#4YF+S_6\VD->1;#5^/!I#6&,[L(HGU#P.8560FR?6&5K;47"!W\&^9S MS9&9^L?$0UN*1/.#>OW#ADNTA2S@W@)0<_Q"L&N*LOM0,,4P_V-]83T97:\G M??5,D,*CD)2!!J;(L"Q%,Z?P?D;Q^_EJS?9B&UL[%UMC^+($?X> M*?_!\B913LHL8,P`<\.<%G:^I:K]5 M8VRWH:&)E$.W`X:N>NJIZNKJ=MN^_>[%][0O3K1QPV"B]]YV=C?W?WZ5[>;^-5S/C\Y3JR!B&`ST9_B>'W3 MZ6P63XYO;]Z&:R>`;U9AY-LQ?(P>.YMUY-C+#3;RO8[1[5YW?-L-]$3"C;\0 M$>+;T?-V?;4(_;4=NW/7<^-7)DO7_,7-A\<@C.RY!U!?>J:]R&2S#R7QOKN( MPDVXBM^"N$ZX6KD+IXQRW!EW0-+=;;#U+3_>:(MP&\03W<@/:WJS`@AO2!)F3KYCD(OP86?@?!`.;AS^YN-[]H7VP/ MCO00WB+TPDB+P^X\ M["0:SJMGCF@RFT8(@[.ICT>H33Z89./!>IOLG_;8Q.D:-.LZAC].%[.BWBYI MNLIQ4>+P&%VYKXB>Z'$^T2T+-BL>PW5-BW9%+9H-!Z-WQ_-CKE*ZNR+DW#Y^H!V.'DLNA"UZWIWT,+7^>( MDS,/:*?Q&)/*)7W6]8K<^.#ZSD;[Y'S5?@A].T!BZ:#&?LV-R5S@R1?/N5^^ M>*ALXW>>^Q@D=EY>L/8'6-+! MD;M;J)UC)PHL^*"E[Q]>UU#0!5#F(S>=Y'<-OWZ,[->>P:3*2YVE$N\'2>7%P M)BB-IC*"`2`8]T?C:P.`=,T14W56!'T`,!P,1H/>V##A?Y;)3H]`-J<#7;57 M"0)%7B4(%'F5S3PZ$C)_VE-@$49Q7R4(%'F5(%#DU:'D##Q4[E6"0)%7"0)% M7F7K91+[*BQN*NZK!($BKQ($BKPJK?A,,_!8N5<)`D5>)0C.[=5L6C7+"NMR M92:M/DYU81%OL96:-KK8K!'FJ?,P6L+4/#NUTC-ACI@B;.)LRAV1V:`^,ZF;!)4NT[2W?KEZW+=>^-2Z`1N6TVG'`8Y$K2 M<"@6[CKHA=1]@BV8JYFG!1M`3&0A(=A"AHW%(K:HC:2%F(VD@:"-I(6HC=!U M]G6NC,EEN(43JKL.MJQ1MYNL%XKJJ1=(@.^)F/T@2)LRGXU-]C#:V*:MK9!? M2GUC:N"+5<=[+&UH4;:SH<$>*QM:B-K(QTWF74YXOG2!Z7D/DAV^N9\?!@,4 M)0TS/#M),,U/>!XC.9,AG.YX9QR3_[[*RP!86;N[?5F1K1"P/P7W"N!."WP+R]?IVV3(3SZ`KJI&1F4C MS5ZOO==/6W_N1!;;M,)4L*.X3%Y\FK):I?C,3C#X#EL;U!,QWT=A["QBMJF& MG5RHP@,[+_8:T4L%B>`Y1K]9H1]X$N;C&/VP]K37?N!%J7X(+F'],N,!MP^E M00TNH$%=ATZ)\X17;HLFFRB$K6 M3Z]'!ZV?:B^KQH747M6D"?R>-4]F3\G,$7S!YE)D*HT7F-FX.1O73K6G,')_ M@4DF7FBV@`-.I..%B;&[H$>^1O;ZP7F!J6ARZNEEM;/6RV:7Z0JQ.$9^F37# M>E[D0%SSTO8.MY5L%LS!:0%=:Z2-*!=G39"?([`@K'0I$-YRJ9T/LDHB&BVG M`2.L;G^\'`X"EZ4:3VOL^%XVAE.&@*3.C3E'-4TPO"O'0%T%0[U8%Q'LK8T= MABI',H3ZYPF4"W?6RFYY1&+"&:`RRW$6+E4Y[9ZX(Z'E@"$;SA%^H=3T=^>& M_)#!AZ3%5G.SD;\R9.0Q=0ITC7V7C#,MF-H_TAS-']O)GW9?EWA.@ M:W1O16KFF<+U?7&JINE)AE/TC*IHY*@KPVT?C@<9<6QXPAO14^5\A[$I!1ZVJ`1+NPJ M:X0VVGI5H=&0I*4H_W\1"W5TME94%82'.J*^4M3P,F'<49%<:E!:QL(H/`>R MG[:;V%V]'EZ%`=`Y*Q'2?9AU_;4R:"45_%*P4+\=60)(QW/0X%,5V!.WK]:M1.RIX=[;$PTT-L^*`XB7=0*X'-?D;.3V"YF MYGPI<$7I%4H005@93CY-3:Y6/6B:*BVP:!V2^;:8.69'+B[\Y$'DRY$&C_/%D]P. MP_:H[UF>:`#8?F01@BTZ'@)AS>7&);):/Q&Y3%:!QS.-S_+Z%X>Y(1"$(K,F MH28WLBLE5$R669#B6Z'-%?LCH!)AFPR)6[S%0/!3MU;*V29&V+9(+@+G+P'/ M-SEJ>"=;N/-^][?:E?9N@3D_GQ[@4OI\ZWIP-RE=K*`O6)K#Y82V3!]?&M9<%&\506 M;ADO<)FPN:HM+FB2RN*Y'PAR;^[S([NXHL"%)HO@HK(*/V+J)++`Y+:R"C^" MXZ@L,+FMK,*/@)#(,D%)6UF%'\$+5!:$6UM9N1]-,\D1*X2\^ODW!^$ZD M%)X"><0B$[X0MRCW49]GUQ1D=VHOLZS+!PR.,R(PX!DMBZT'S\X)\M1GM5P=W\NCG?Z0%#< M'\,PYXB78,!'$4!_@N<4P2.0-.`E88B/8=PBWT9,WA=X>G`:U48,M$[0\/&' M._G:B('6B1@^J6+])"+F0[#>YA[BQ.E]>/T#Z#A;P(L#_LHT) MC=B*"(&[:0L)>7!CN#%;UHDY$0A+!,=#"%?NZ.S%: M85%Q_1)4_\N7XM9/C/<8G^3%;@J5SP>`J*6SLK=>_)!_.=&+]W]FMSR$8$I_ M];W[)8R9B(E>O/^(]Y*$7@QWBH)T\W$#]R>$O]HV\NX&G6G MHRNS[PRNQH/I^ZN!.9N^?V^-NT9W]A^@#!][=@//S3KBL6+L\6=P!5//O-EX M\/"Q*#4V!?^Y.#;1R8<$/KN!',"&.ZME1G0V^6/9[OX+``#__P,`4$L#!!0` M!@`(````(0#[8J5ME`8``*<;```3````>&PO=&AE;64O=&AE;64Q+GAM;.Q9 M3V_;-A2_#]AW('1O;2>V&P=UBMBQFZU-&\1NAQYIF9984Z)`TDE]&]KC@`'# MNF&7`;OM,&PKT`*[=)\F6X>M`_H5]DA*LAC+2](&&];5AT0B?WS_W^,C=?7: M@XBA0R(DY7';JUVN>HC$/A_3.&A[=X;]2QL>D@K'8\QX3-K>G$COVM;[[UW% MFRHD$4&P/I:;N.V%2B6;E8KT81C+RSPA,S*A/D%#3=+;RHCW&+S&2NH!GXF!)DV<%08[GM8T0LYEEPET MB%G;`SYC?C0D#Y2'&)8*)MI>U?R\RM;5"MY,%S&U8FUA7=_\TG7I@O%TS?`4 MP2AG6NO76U=VJ^>?__J^5/TZOF3XX?/CA_^=/SHT?'#'RTM9^$NCH/BPI?? M?O;GUQ^C/YY^\_+Q%^5X6<3_^L,GO_S\>3D0,F@AT8LOG_SV[,F+KS[]_;O' M)?!M@4=%^)!&1*);Y`@=\`AT,X9Q)2"M.69E MN`YQC7=70/$H`UZ?W7=D'81BIF@)YQMAY`#W.&<=+DH-<$/S*EAX.(N#UO5D"53,+2L?VW9`X8NXS'"LY1ZMAU MC_J"2SY1Z!Y%'4Q+33*D(R>0%HMV:01^F9?I#*YV;+-W%W4X*]-ZAQRZ2$@( MS$J$'Q+FF/$ZGBD".S1P1%H$B)Z9B1)?7B?-AOZ'&(KA\1JCX_M\+H>SHX;.1DC56#.M!FC=4W@K,S6KZ1$ M0;?785;30IV96\V(9HJBPRU769O8G,O!Y+EJ,)A;$SH;!/T06+D)QW[-&LX[ MF)&QMKOU4>86XX6+=)$,\9BD/M)Z+_NH9IR4Q>Q,O91&\\!)0.YF.+"XF)XO14=MK-=8:'O)QTO8F<%2& MQR@!KTO=3&(6P'V3KX0-^U.3V63YPINM3#$W"6IP^V'MOJ2P4P<2(=4.EJ$- M#3.5A@"+-2[\JIB4OR!5BF'\/U-%[R=P!;$^ MUA[PX7988*0SI>UQH4(.52@)J=\7T#B8V@'1`E>\,`U!!7?4YK\@A_J_S3E+ MPZ0UG"35`0V0H+`?J5`0L@]ER43?*<1JZ=YE2;*4D(FH@K@RL6*/R"%A0UT# MFWIO]U`(H6ZJ25H&#.YD_+GO:0:-`MWD%//-J63YWFMSX)_N?&PR@U)N'38- M36;_7,2\/5CLJG:]69[MO45%],2BS:IG60',"EM!*TW[UQ3AG%NMK5A+&J\U M,N'`B\L:PV#>$"5PD83T']C_J/"9_>"A-]0A/X#:BN#[A28&80-1? MF#R`Y+<&ULE%5=;]L@%'V?M/^`>*_Q1Q(W M49PJ7=6MTB9-TSZ>"<8VJC$6D*;]][N8A*1)UJ5^L`T^G'ONN7`]OWF6+7KB MV@C5%3B)8HQXQU0INKK`OW[>7UUC9"SM2MJJCA?XA1M\L_CX8;Y1^M$TG%L$ M#)TI<&-M/R/$L(9+:B+5\PZ^5$I+:F&H:V)ZS6DY+)(M2>-X0B05'?8,,WT) MAZHJP?B=8FO).^M)-&^I!?VF$;W9L4EV"9VD^G'=7S$E>Z!8B5;8EX$4(\EF M#W6G-%VUD/=S,J)LQST,3NBE8%H95=D(Z(@7>IKSE$P),"WFI8`,G.U(\ZK` MRV1VFV.RF`_^_!9\8P[>D6G4YK,6Y5?1<3`;RN0*L%+JT4$?2C<%B\G)ZONA M`-\U*GE%UZW]H39?N*@;"]4>0T(NKUGY9PE`$']EC M+H@,D$-K7;5',/>VQ6[1<>[[S+P"C\F'TN=I%N=[B:],GYP*R.`XOBW`+3H6 M,#ZRP&.F@X`DB=T5$*\4Y*<*_F^!6W2L8!+XO04>XQ6,KL\I\/W%'S_)=]7VG>(S.S+5)#%B=Q%G;--UOOU5Q M@-A`3[@A?R>G/I==3K'X_%:5WBN3BHMZZ9,@\CU6YZ+@]7;I?__W^=.#[RE- MZX*6HF9+_YTI__/J]]\6!R%?U(XQ[8%#K9;^3NMF'H8JW[&*JD`TK(8G&R$K MJN%2;D/52$:+]J6J#.,HFH05Y;5O'.9RB(?8;'C.GD2^KUBMC8ED)=7`KW:\ M44>W*A]B5U'YLF\^Y:)JP&+-2Z[?6U/?J_+YEVTM)%V7,.XWDM#\Z-U>7-A7 M/)="B8T.P"XTH)=CGH6S$)Q6BX+#"##MGF2;I?](YAE)_'"U:!/T@[.#ZIU[ M:B<.?TA>_,5K!MF&>=)T_0\K6:Y9`3/G>S@C:R%>\-4O<"N"(*H58!#UWS', M8XQ1PE.8_ODQY',[;5^E5[`-W9?ZFSC\R?AVIR'2&-*`V9@7[T],Y3`-$"N( MQ^B:BQ(LX->K.*XG2"-],W2\T+NE/YH$XVDT(B#WUDSI9XZ6OI?OE1;53R,B MG94QB3L3.!ZZY[,@B M\*6EG_1&/;*CIT8!"^:4E\169!\I+$((TR?\F`S%,()>W+$=-S6*/MG$5F27 MBC.[108FP\E0;)--[;BI4?3)'FQ%=JFX03:YAPS%-MG,CIL:Q>2XEF+G>6:> M]\EO<$WOX4*QS47.B]B4@9'T`Q.W_BXE-]CPJSEX9T"QP^848&HD%IM3)=FE MY`;;[!XV%#ML9UN3-R.QV)PZR2XE9Q.K"@AL%\,3UZH=.J<`TTYCX3G%DEW1 MW.+#'7CPQ!*S7_=W$.*48=II+#ZW)*YH;O'=]24@9E_O\\5N572:/E_LEL45 MS2T^W*F'YP_5]OS&;F40H['XW-*XHKG%YWP@AGW"H&^[X#P',%72:?J269:PLE9>+/;9A!%X]W3WUE5W#=WH` M'5I#M^QO*K>\5E[)-O!J%$R!39H>SUQHT;0]SEIHZ,W:TQTT\`QZAB@`\48( M?;S`CN3TEV#U/P```/__`P!02P,$%``&``@````A`-Z*"/S7!0``@Q@``!D` M``!X;"]W;W)K&ULE%G;CJ,X$'U?:?\!\3X!0RX0 M)1DUX;(C[4JKU5Z>:>(DJ$.(@.[T_/V6,3:V`2?]$CJ5MN8_?\??/-.HF_1Z2"_E%6_-G[@VO^]^_65S M+ZNW^HQQ8X"':[TUSTUS6UM6G9UQD=:S\H:O\,NQK(JT@:_5R:IO%4X/+:FX M6(YM+ZTBS:\F];"NGO%1'H]YAL,R>R_PM:%.*GQ)&UA_?9HQW^V7@?LBSZJR+H_- M#-Q9=*'#/?N6;X&GW>:0PPZ([$:%CUOS!:T3Y)O6;M,*]&^.[[7PMU&?RWM2 MY8??\RL&M2%.)`*O9?E&H#\.Q`1D:\".VPC\61D'?$S?+\U?Y?TWG)_.#81[ M`3LB&UL??H:XSD!1<#-S%L135EY@`?!I%#E)#5`D_6R?]_S0G+>FNYPM5K:+ M`&Z\XKJ)<^+2-++WNBF+_R@(=:ZH$Z=S`L_."?)F:&XOB0\-S^UX\.QX\YGC M+=#B$7'>$>'YI1?"(,8&(0'E2[L%'77LB!""C&;Q-F.7>\E;>2$7N* M6$)F_7I0TBR8LCO MT[*MB(!B5AK%*(*>Q6T1B91Q=51*S`R]Z$J2)CJ$I`3(*2JA5X"`U0)20AE0 MC"9*>X9@U1`RP^1V(H9@E)@9)BF)#B$I`&>ZJ``IH#F0]4H0DIH+:O50#,T% MQT:>4CKT9R$11/P"+9=*;D4J(6:&:1%T"$D$*."OBT!(J@A*[0<40T5`?ZMIQWB8A`CK]8HC[1)"5\60E]01"P MK(!K*QD?4`S4%K\K5`48@M5YR`R3E(@A&"5FADE*HD-("B"X$\1DT$O0HM7C M4=EAT(%T(G`(VU+(+9-[BCB$D6)NF20E6HBL!.G)E+)`S[09B#9S<#/SH`_[ MC`ZDNS8[R(-.0W(T?ID^Y2CN4)HP)5J(+!YIYA3Q'I\IB+:`HG+#?J,#:95C MK23+C%`B3:BDDN*.I%6$D?I8]^DO*T(Z-4&1!X5%^SI1"=?VY6,M0!2D6=^> M0WHE'I*B`2GFEK%MMFU@HH7(2I!.[7DE:%\'GT(UJ1<-TC5_[?KV'-(K\9`4 M#4@QM_3+Z0/>*:'S*RL!H1.5>*X1(\,.Y>)!OG)+!AV(5LE(*];]+MR\$F.L M&1M08F[1B$$7.YZCLABD>(0I7V?K,B@8"B(_CL7FM21U@RQ_K$O&(DTVIP- M2#&W:!1A;QJ#R#E".CE!D0>'*.W[0#*VA0`-3/NA*1R:HJ$I'IH2R22OG'1@ MPLK;H07DP%>G6K21$X,[&#X$,'TE!P0YD?F9B7SE]MCW**9..#1%0U,\-)%Y M;_=&\$7W3>>W=+!7X.J$]_ARJ8VL?">SV3F,"[B5SHT#M(9Q&_`5>XC6,%(; MVE^0!X-F;^07$("-H"WN#$;`M_2$_TBK4WZMC0L^PC+LV0IB4-$A,OW2E+=V M;/A:-C#\;?\\P[`?P_#/G@'X6)8-^T(VR__[8/<_````__\#`%!+`P04``8` M"````"$`3$&"FY\#``#;"P``&0```'AL+W=O9_<@(0@H!H834^E5JJJ7IY#8L":)(YL,\S\^[-W M-H38F3*4!R#)\LKGM7V;?WJI2N>92<5%O7!#+W`=5N>BX/5NX?[Z^7@W=1VE ML[K(2E&SA?O*E/MI^?'#_"CDD]HSIAUPJ-7"W6O=S'Q?Y7M69^:B3+BK915?I1$,1^E?':)8>9O,5#;+<\9P\B/U2LUF0B69EIX%=[ MWJBS6Y7?8E=E\NG0W.6B:L!BPTNN7UM3UZGRV9==+62V*:'?+^$XR\_>[<7` MON*Y%$ILM0=V/H$.^YSZJ0].RWG!H0<8NR/9=N'>A[-U.'+]Y;P-Z#=G1]7[ M[ZB].'Z6O/C*:P9I0YVP`ALAGE#ZIP(]PH[-BM<'IG)(%&R\:().N2@!`+Z=BN/0@$2RE_;WR`N]7[BCV)LD MP2@$N;-A2C]RM'2=_*"TJ/Z0*#Q9D4ET,H'?DTDT\L;1))G^B\OHY`*_)Y

*@S76!_RPN"0I-[=%FX,&<@ M"@5%?EY&TV3N/T-A\I-F-=2$IF)]5F`]`:]CA-CZC&^7[HR"8D3!4B+;BFZ` M]X7->N]0$8\[B4$""?5),*T1#,GK1-AHX8[[`--IYT^0I($1U4%>"%K%^IK" M8(07]1FOLZ$8^M![;S1-+3;23-JRVB4[/WN+VZ""KO6I;DL.&UET:6#1D2:. M6[S`"R/S^9J>P_<;R1J$L4EX/3<4VV16-BO2))1;%";)9&*Q]15Q`)_NN4&6 MF&28W1@Z=)T0&]F$5C8KTJ0T84<(<"&@44>*&]+#_=):1^)W9P8VLAE'708T M,TC3)XA2>VX,-1>%D60ZI'Q__F(CF]*JY(HTYUJWM;2C-"2A)3$H0PBN'^;U M0K=JDR^QI_!)0Y6^B](DL#JP-A5I,K[4P63#1;I7Z'?8:$DWUIE9A\UF9QVT(3TA8`JUFW2D2#-?HDNLI)/F]+3$Y2.K5E9*B<7!SPG1;!:='>[,]Q] MA!NN=7^%9SN\[W"0=SNA"BZ8]FVR$AD-5 M^W&ULE%?;;MLX M$'U?H/\@Z+V62=]BPW*1;)#=`EN@6&S;9T:B;2&2*)!TG/S]SE"R0NI222^& M/1Z>PS,S/!+W7]ZRU'OE4B4B#WTRF_L>SR,1)_DI]'_\]_3YSO>49GG,4I'S MT'_GRO]R^/3'_BKDBSISKCU`R%7HG[4N=D&@HC//F)J)@N?PSU'(C&GX*4^! M*B1GL5F4I0&=S]=!QI+<+Q%V<@R&.!Z3B#^*Z)+Q7)<@DJ=,P_[5.2G4#2V+ MQL!E3+Y$[21+\;4-_+HMW74RXD>TY!]QM9LNB&;7ZTX+,DDD*) MHYX!7%!NM*UY&VP#0#KLXP048-D]R8^A?T]V#XNY'QSVID`_$WY5UG=/G<7U M+YG$_R0YAVI#G[`#ST*\8.K7&$.P.&BM?C(=^"Z]F!_9)=7_BNO?/#F=-;1[ M!8I0V"Y^?^0J@HH"S(RN$"D2*6P`/KTLP=&`BK"WT*=`G,3Z'/J+]6RUF2\( MI'O/7.FG!"%]+[HH+;)?91(QFRJQS-8>F6:'O117#_H-V:I@.#UD!\#=>X%- M8.X])H<^S"/0*"C@ZX&2U3YX!=%1E?-0YL!GG4/JC`!(:V9@&\^,R-#QS-K01M2'#;3(+&YI*2R:9@<0LY)D%[W)Q, M<@F3W=#6ZQ.DRR@V6WP;&&I8VRH,&#"[#?MX6CNS3R=YA29[`9TY0]N=SZ>QJX0/-[6P`^P569@S3FM0AU"NOQAE.G1R@ULFDZ#Z'FT MTDD&8;(;)>PU"!PMNU[&(,AJV/3,P@9+IT7T/&OI)(LPV0VVVB*:1DX;?F", MG&Q&:&I;@\$"8O<4]3QQZ21K,-D-3;W60+NL8 MD-\?*)/MLMU"UH$J;TCE-23C\L3_Y&FJO$A<\/9#X6)11^N;V;U9WXPO=_>` MCP-0_P,WIH*=^#>```&````'AL+W=O7 M[R>VCK9425;%XOE,UMIK73N.DKC&ME*V,YEY^]T@T&H`/T-)F;D99SXV_@;1 M.#8IZ>V__GQ\./MC^_QROWMZ=SYY[+YMG^C*Y]WSX^TK_>_SEXN7;\_;VT]]H<>'B^GEY?+B\?;^Z5PK MK)^/T=A]_GQ_MPUV=]\?MT^O6N1Y^W#[2O5_^7K_[875'N^.D7N\??[]^[?? M[G:/WTCBX_W#_>M?O>CYV>/=.OWRM'N^_?A`]_WG9'Y[Q]K]_X#\X_W=\^YE M]_GU#D]/[MIWNZ`]7L9\_;S^_./TS6W?+Z_.+]V[Z!_G._ M_?%B_?OLY>ON1_Q\_ZFX?]I2:U.<5`0^[G:_*]/TDT)4^`)*1WT$FN>S3]O/ MM]\?7KO=CV1[_^7K*X5[07>D;FS]Z:]@^W)'+4HR;Z8+I72W>Z`*T'_/'N]5 MUZ`6N?VS__OC_M/KUW?GL]F;Q=7E;$+F9Q^W+Z_1O9(\/[O[_O*Z>_RO-IH8 M*2TR-2+TET66)XO,C`C]-2++4:=S8T]_?]TIW6-_^_37B$QI9(S<*M6I+W`E M!:C"(P5(KB]`?XV'N33-2+F5*4=_N6;3HPI.J`_ID*K.9&+ZYGJQF"^OK^@^ M1WQ.]KV!_L%>QV]OPK%7_SCI!B<<^!..N>KA7.1`_3A@$_K':?6C M$.MVE%A/5F^N)I>KV:%VY*!/).K3P7I>Z.'8C^[@]O7V_=OGW8\SFC(I`"_? M;M4$/%DK%1[7.GK[D?ZS@4XC7*E\4#+OSJD\C>$7FIW^>#^YNGQ[\0?-*'?& MYF;`QK78L(6:/I1LX(/0!Y$/8A\D/DA]D/D@]T'A@]('E0]J'S0^:'W06>"" MPK./$?7X?R)&2D;%B%OWAH$$;>H%A"VX2."#T`>1#V(?)#Y(?9#Y(/=!X8/2 M!Y4/:A\T/FA]T%G`"0@-L7\B($KFW3G--=:@F;@1N-$V,YIB]T9SUV2S-]E' M"4@()`(2`TF`I$`R(#F0`D@)I`)2`VF`M$`ZFSA!HW;^)X*F9&BR)#?[@.!4 MIXU&H[8WV4<-2`@D`A(#28"D0#(@.9`"2`FD`E(#:8"T0#J;.%&C!=B)VO!^ MDY(V30FY,=%$'4:L\3'S5IB]$0GLZC2\C(_Q$*AR;@@,6

YL5!'+O_X.[M6*:R?9+9XIZ%2&%[?,6AF=1Y!8[V' MM6C^MR;AY4^ZCSJ4_%J5]7&&MJX\C=^H9`K=A5-E0(&Q4ID-JWY7/ZF?VH#_ M6OWTUMVIG]G-VTT**%";<14+MW[7/ZF?VFK:]3LP_/3.U*F41L[P`Q2H'!)5 MRK(*$46(8D0)HA11ABA'5"`J$56(:D0-HA91YR!W^*FMIAT+-7$?-_ST)M4) MBT9.7]XCN^/ZD[=*\F'W6?VD^ZA-VJ]5697T)G*-G"H#"E2_AOI=2W;-;5*U M._'KI_>*!SJZWM8X+:J14SU`P<04I%K*['`M>0RW>FH-MZMWH%)ZR7\" M^BSA1N4MW:$6(`H118AB1`FB%%&&*$=4("H158AJ1`VB%E'G(#<6:M=BQT*V M32<>*R9F_V.O+!K1]&?W"O_@;0I:DV2`*$04(8H1)8A21!FB'%&!J$14(:H1 M-8A:1)V#G,A-3]M"]N;NS&.0U?`;1`&B$%&$*$:4($H198AR1`6B$E&%J$;4 M(&H1=0YR8^%O(<=GM"GN&PWRAHI_!A-2)Y83PZ`..O3>;PIEG@RA`%"** M$,6($D0IH@Q1CJA`5"*J$-6(&D0MHLY!;BS4F<2.A=J;319OU`L!KU_O[WZ_ MV2DPF*68T?-W_51>I3&\(X=!LZM]$F##5M,]"@Q:T#QG[>DEH=7+AV+%@RI" M%"-*$*6(,D0YH@)1B:A"5"-J$+6(.H,H*T*W[49-G=3^?M3,><^>]S1RHF:L M[*AIM*"YSHJ:Y)%,U/96$C70BJ>`$H,\>4D#]?*I6+%\AEHYHD(*VK67+$XO M7XH5RU>H52-JI*`M+Z?\7KX5*Y;O'"TWW.KD:X?[P'IF#LIV7#6:VX_W)RLY MVO>5VDQ-07EP%C"281P:-->OS*G79R*TBAF)5L)(M%+4RM`J9R1:!2/1*E&K M0JN:D6@UC$2K1:W.L7+#H]("=GA^;0[5R05GF3/Y!C=JDO$P43-6$H]`;?'5 M]L695A=>%P_92LWC?[Q?SJ?75]?>*(O8IG]IL_<7,Q)_":-1?ZFQFCM6*^^H MGK&6>,P9B<>"D:/EWV%YE,>*M<1CS4@\-HQ&/;9L-=*F'=OH%V&=%["&,B6G MK\:8)9D:1`-<9NP5'/V,E8R-P!14&P@IZ+=SR%:+L9ZTKP+/>#'72OPEK#3J M+S56&_'(+=$R&FG`CI5Z<6<"4N__ MC$Y`_]Y]^]DFCC89O(OK9=STC4%T[.6J;A`%C&0`A0;-Y_N"$5K%C$0^821: M*6IE:)4S$JV"D6B5J%6A56NX?R;E M@M+?`D;2*T/6DAN,T"IF)%H)(]%*42M#JYR1:!6,1*M$K0JM:D:BU3`2K1:U M.L?*#0]-ZS"$ILLC'M#.5$EOU&BD^MH)%H\=&-&$O6$T:C']"B/F6BQQYR1>"P8C7HLV:.>$*>7$V_S4HD,.ZL9 MB;.&T:BS]I"S3F3(F=MO5+['W_NIK>+QA^>93AG9&S]&[G+M';`V;"7#(#!H M+L^Q0T:N%O064PD9/S'*)ZPE\BFC4?F,M40^9R2U+UA+Y$M&U_W.8C)?+197 M7CM4K"3B-2,1;UA)Q%M&(^(=*_7B;NA5$NIOAEY)>'.'1M[XQ8WGQF#,2C\51'DOV M..$^<[58>+BKV8D_IJC_+5'^.M8O/?G=J-#&;@C-V^8@IMI1'L2GB(W MB`)$(:((48PH090BRA#EB`I$):(*48VH0=0BZASDQD@EJ?RA?O*YC-YO@-&N MD9UO8RLKWV:0FR5=>2MB*%8<[@A1C"A!E"+*$.6("D0EH@I1C:A!U"+J#!K( MDE*K_A-14RK>'*V1$S5C94=-(R^-Z2U>85_)=^=D)5$#K=A8Z9OLTS")%+3F M>S]_DXH5RV>HE2,JI*`M[_6Y4JQ8OD*M&E$C!6UY/TLJ5BS?.5KN(%5)+WN0 MCF=)9SI'YFR[-/).6'Z6E`O*WB)@)#N0T"`[2XI6,2/12AB)5HI:&5KEC$2K M8"1:)6I5:%4S$JV&D6BUJ-4Y5FYX5#;&#L\O94EG)J*M<1CS4@\-HQ&/;9L-=*F'=OT_IR>I,;GW^])O8H[KS.B^5>VT)`E M92L9&X%!![*D;*7/M,,]B<5EE,6,Q%_"2K29EXKZ>_W46!W(DK*\>,P9B/-2/QV(A'GOM;1B,-V+%2+^YV&S\#YT]`QVVT:4;W]P,&69F< M#:*`D0R@T"`[2XI6,2,99@DCT4I1*T.KG)%H%8Q$JT2M"JUJ1J+5,!*M%K4Z MQ\J-$7\/5).GMS0Q2W4"&AG_\VW!!Z6\!(^F5(6O)#49H%3,2K821 M:*6HE:%5SDBT"D:B5:)6A58U(]%J&(E6BUJ=8^6&9S#;=4R65$U"?J0T\M9M M/TMJ"EIC*V#DA-B?_4)C=2!+*EH\R\2,).H)HU&/Z5$>,]%BCSDC\5@P&O58 MLD<](2XFRZ7W2*\2'?96,Q)O#:-1;^U!;YWHD#>WYZB\D[_[.RU/JB+I=R&# MW`7;.V)MN*`,A,`@RI-:LP1V(2T_=^7]U"G+RZ"*&8G'Y"B/*5N->LQ87CSF MC,1CP5JC]UBRE'58L+OYJ1N*O8:51?RU;C?CK6+SWYW:CH639 MB=T($V5SC;R9R-OD;]A*QDU@T(&4R/\IBQO'C, M&8G'XBB/)7LT.=>K^>5TYDWE%8N+OYJ1^&N.\M<>X:]C\=Z?VXU4VLV?C>Q\ MWI%;027C'2$TLG.N:I(A*PL%B$)$$:(848(H190ARA$5B$I$%:(:48.H1=0Y MR(T1S8$0HZ,^LZ?F:S\L!LG#GPU;+?NG!+]Y^8)`+ELKQ$H25&Y=3TL]S3'U M9-!"IM@-H@!1B"A"%"-*$*6(,D0YH@)1B:A"5"-J$+6(.@>YL?#S3`>.$)A0 M4M,Y]1_UFM;^"$'?`KG_G*9^[4ZL>&<5(`H118AB1`FB%%&&*$=4("H158AJ M1`VB%E'G("<\:A5TAO5X>'IS=XHU:*&__5&]?[I!%"`*$46(8D0)HA11ABA' M5"`J$56(:D0-HA91YR`W%GY&Y$`L,/.QT$@])+>&BC>7;L1J/U00A8@B1#&B M!%&**$.4(RH0E8@J1#6B!E&+J'.0&Y[3DB'J\:"W[!GD#!5M9:$`K4)$$:(8 M48(H190ARA$5B$I$%:(:48.H1=0YR(V%G_DX,%0PW:&>`ZKPR!/"#:+`(`J/ M/:"\`UDH5CR@(M2*$252T);WD@:I6+%\AEHYHD(*VO)>[4NQ8OG*T7(;WD\< M'&AX3!(L-*('A^QN8Y`5B\`@K^&]UT9"L6*M"+5B1(D4M%O&.R&E8L7R&6KE MB`HI:,M[B9!2K%B^K37#/VUS01DN@4$T M2-7G%>B=0*_?AF+`]Q>A3(PHD8)&V8M[*@:LG*%,CJB0@L/*I1BP]9;J`H^JC.Q\*_82M)]`2,[((32)ZQU4J_A364$8C81H9FS$C\ M)8Q&_:7&2CU;L+J5'-CZ77LVI#6=>'O[G*VD$@6CT4J4;&5N>KX:>/6,;3"[ M1:>_D_;&RMS;&VMDY1HVO:B;?D`4(HH0Q8@21"FB#%&.J$!4(JH0U8@:1"VB MSD'N4#OM2+_`(STCF<$VB`)&WPUR%GQC);$(N*#=\-K*:WAO+8A8 M7B:'&%&"*!5DM6K[Z7^`NF(;7-J7IYWE>W,O>OK@3EE)G@0VQLI"`:(0480H1I0@2A%E MB')$!:(2486H1M0@:A%U#G('E7^65X/*/%DX\0O)EGC.-\C-'D^\:6HC5AS- M`%&(*$(4(TH0I8@R1#FB`E&)J$)4(VH0M8@Z![FA.RT;L,1L@$%TQN*&WR`* M$(6((D0QH@11BBA#E",J$)6(*D0UH@91BZASD!L+/T$PGIE98B;`(/7I.MGH M^FO&1JPX8@&B$%&$*$:4($H198AR1`6B$E&%J$;4(&H1=0YRP^/G"@Z$!Q,$ M2XVLY66#*$`4(HH0Q8@21"FB#%&.J$!4(JH0U8@:1"VBSD%N+&AK<<)#KZ4R M]U9_C;Q5Q3N:;$Q!*V(!HA!1A"A&E"!*$66(_]D>)FO=O]UC_%.'-DW)OZ5*:G1%^H-^)F2&GWN8.#*C-3H(XT#5^;4;O3BS=`5 M:AUZM6+HRHJN](=:OVZ3RW5'WWP_4&9"=:,OY1ZZ0G[H"X.'KI`?^D+:@2M3 M\D.OZ`U=H=^DU"\(>W6C'ZO\,!@=*M"_4F&-Z`G46CU?PBOT\&BM'@WA M%7KB0FI#]:4G)J0V=(6>>)#:T)5@MERK#W`.^)E=K=4'(?$*?ANZLAF\Z6?:*6=$/U>)/TD[Y;> M];E4OT;T>;=[Y?^A2EWL?^3W_?\+````__\#`%!+`P04``8`"````"$`8O$$ M1<42``!\R9Q_?XHB6\WBTV.G MO7,SGCQ59'<5J]FO*';KW=__N/MV\OONX?%V?__^=/;F_/1D=W^S_W1[_^7] MZ?_\P_YM?7KR^'1]_^GZV_Y^]_[TG[O'T[]_^/=_>_=C__#KX]?=[NE$>KA_ M?'_Z]>GI^]NSL\>;K[N[Z\[%\WC_<73_)/Q^^G#U^?]A=?SHTNOMV M-C\_7YW=7=_>G^8>WC[\3!_[SY]O;W;=_N:WN]W]4^[D8??M^DG.__'K[??' MOK>[FY_I[N[ZX=??OO_M9G_W7;KXY?;;[=,_#YV>GMS=O`U?[OQLWF].S#^\."?K?V]V/Q^K_3QZ_[G^XA]M/_W%[OY-LRSBE$?AEO_\U MN89/"4GC,[2VAQ'XKX>33[O/U[]]>_KO_0^_N_WR]4F&>RD1I<#>?OIGMWN\ MD8Q*-V_FR]33S?Z;G(#\]^3N-I6&9.3ZC\/?'[>?GKZ^/UVLWBPOSQ'=P_['B5S`,OR/ MWZ_3=#![FWKMJRR/T;'N_JSLI-Y2+Q]3-^]/)7ZIJ$>Y5G[_,)O/WIW]+O5] M4WRN1GRTQ[;W2,69&BOZOR$WJ)N6FC^JJ M!T.RYDTB>H^^2=<"TP+;`M<"WX+0@E@!E0BYB)&(A13+^%34UT1J]?Y4KN2J M)II`K[)/ZNOH=-'DXNAR3`:(`;$@#L2#!)!8$Y43B0LY2=/SQ`LG=2/7GASF MF`!>.=GIV2P=78Y9`C$@%L2!>)``$FNBLB0)45EZOF*2]R$9?1!7F2SD"JW2 MLV@JY.C4-^M`#(@%<2`>)(#$FJC8Y6XR(?;DK6//9#Y,'%N0#L2`6!`'XD$" M2*R)"E1NEQ,"3=XZT$P6,OM4@]Q.`T>GXR"#&!`+XD`\2`")-5&Q)[5=WS^? M+_#DK6//I!YDD`[$@%@0!^)!`DBLB0I4-(H*]"`49A=O!DGUTV(A=:6SD(ED MH:Z`97.9'YV.%0!B0"R(`_$@`2361"4FJ2:5F>=+X."NHR^H+@*BCL@062)' MY(D"451(QYPDT\^7_2PK++G+]4-W55!ST:^:(1^\^H8=D2&R1([($P6BJ)!. M0Q),$]*0]95*0T9JZ(&Z&9`ALD2.R!,%HJB0CCDIHCKF-!$L98`G"I\D>9I9 MH*!F&KAL:R(WK%+6#0W[,C%$EL@1>:)`%!72^4E:J,[/"]-!ED[27W_J5[.B MIN9'M"7JB`R1)7)$GB@0185TS$D#38@Y2R85 MP]`#F1F0)7)$GB@01854&N;3A.'!70O#@JI;W9:H(S)$EL@1>:)`%!72,;?" M,$T'BW5:H9XJ$.84C07I&6'1K#-N!Z]C61`9(DODB#Q1((H*Z10E,??S5\<\ M:[_ZZBA(E0448DF@ZSGU!2843,=M&N&\Z/7,/1`AEZ6R!%Y MHD`4%=)I2)IM0AJRQ%-I@.K;IJM!KI.J&CHB0V2)')$G"D11(1US4F-US&DZ MF"_?O$(?9%VGTI%1.OKP*7+1KB/.CUY#50`9>EDB1^2)`E%42&4H?1U@&/I%NYPX M./6)Z8@,D25R1)XH$$6%=!:F*<,T^35WQ((JL;,EZH@,D25R1)XH$$6%=,RM M,DSSP4JV:TR?$!94C04U$P+*(C>LKI=N:-A7BB&R1([($P6BJ)!.T335N*!J M+$A&H8]F2]01&2)+Y(@\42"*"NF8DT*K;Q,O3`A9T-7W@D5&J?*J>T&[F#QX M]9GIB`R1)7)$GB@0185T&J:)PP7%84%5;6^).B)#9(DN(#)$E*!!%A71^DL"K\_/"I9'UH$H# M).)V`=01&2)+Y(@\42"*"NF8DSZ;$'.64UT06E84#/T M[5KRX-5GIB,R1);($7FB0!05TFF8)@TO*`T+J@IY2]01&2)+Y(@\42"*"NF8 MDSZKI6&:$"[EH9&7MJ=?9&%7B\0>K:K"+UYRE0RZ\:)9:.Z&AK77L/"HSG@Y M3<4=W+6**T@^/O=EN"7JB`R1)7)$GB@0185TS--47+K)-TM;/:K&9D!UUMNQ M&?<:UH#T>4Z364O*K(+4V&2O"G7T,D26R!%YHD`4%=(Q_YG,>GX275)5]:@> MH^+U_/4S-*Q'<[3?8L*7L*JF)65/ M05-4,O2^2(/%$@B@KI%$V3 M1$M*HH*J:+9$'9$ALD2.R!,%HJB0CGE,$KVR+"B2EAGILEBVRRF#UU`6QX8] M,O2R1([($P6BJ)!*T6J:!CNX:PU64%T61!V1(;)$CL@3!:*HD(ZYU6"O_NB\ MHCPKJ*F*=D%E\.I+H",R1);($7FB0!05TAF:IOY65'\%J:K(7A7JZ&6(+)$C M\D2!*"JD8V[5W_.J;T755Y#^IFW9KIH,7L/0Y[ZJQ6A#+TODB#Q1((H*Z31, M$Y4KBLJ"JG'>$G5$AL@2.2)/%(BB0CKF,5'YNOO$BJJRH&9&:%=4!J^A+')? M52(-O2R1(_)$@2@JI%,T356NJ"H+JJ+9$G5$AL@2.2)/%(BB0CKF5E6^,"-0 M.:Z.`K#Z.+=L/IAO!Z]AZ(\->V3H98D2L*QX(D]KHJAD6R_&S+X-670$=DB"R1(_)$ M@2@JI#)T.4TX'MRU<"RH2<.P'I73,'@=TT!DB"R1(_)$@2@JI-/0:LGGYXA+ M"L:"9.]+'^"6J",R1);($7FB0!05TC&WZC#IY]GRL%7MZ>OMS:]7^P1&UYT7 M\DZS0O1F\^K1:(D?DB0)1 M+$@>B9;N=79:'?FZ[%!>7A949Z>@.CL9R6;K]/*A^?FLN=N8THTX#(E!-ZX_ MV-"S'QJ6GAL)$P:'ON>HNM%IFJ8S+ZDS>U3GHW@-J"M>LLVX/RE#9-F7(_)L M&(BB:JAC;G7F"Y,%M63:#9J^#Q!Y<*S]5;M`V3L-VYZ['M7M9LNFH>F]-OG% M5>O-9M9<5K9W&:K']6@XG._1LX<+O5<^W'J]6C2U&GN/P]%T*EL]^KJKC#+U M,J/T9-^0X7:MKW<:KHZN1T/IF1ZE.>_W#XO%>K-JU@%L[W)X`]YAXG(]&OKV M/1KZ#CW*?<\7F\U%,U2Q=\EOUZO?YW69U&7[5>'T"3SUTMS2"]+CCNP5KZ%@ MNL,9R?,/LSY2G[FA/$.4$KJ730G;TI%<(/WE[GHT',[_U.%"[Y4/ MMYBOE^MF_&+?]TB!MJJY+=!_[+__V4WR$&"Y2U)-7V:D!`-01R]#9(D8^2^3*CZN/"EJ@C,D26R!%YHD`4%5(QKUM]G,;_=6L*AZ[T MA5:0ULZK=NUY\.HOAH[($%DB1^2)`E%42*=HFG9>4SL75)<%44=DB"R1(_)$ M@2@JI&-NM?/SE\*:(KD@OI617I;($7FB0!05TFE(BK.^ M`[V0AB)0AXU85^NBM5\PMH.7L/0 M'QOVR-#+$CDB3Q2(HD(Z#=.4XYK*L:#JZM\2=42&R!(Y(D\4B*)"*N;-F')\ MU81PZ$D+QX(:]="N/0]>?0ET1(;($CDB3Q2(HD(Z0].$XX;"L:"Z*H@Z(D-D MB1R1)PI$42$=-A25!37WB78M?O`:RB+W5272T,L2.2)/%(BB0CI% MTT3EAJ*RH"J:+5%'9(@LD2/R1($H*J1C_NM$Y8:BLJ"F+)J%INW@-90%126] M+)$C\D2!*"JD4S1-5&XH*@M294%122]#9(D.6ZR`*R?A"A(#3UD8D)U\H&B??\[G:7,H/^AQ6M&%9B^7P(0J63?\C M0+"DGP]X%E*9;#E^BPK,1R>!2CM:RE MC7PREY*$1=K()](QBV1'/K>-620[\E%FS"+9$<$_8MF,6237LJU_S"(Y MD,WO8Q;)M>SY'K&L)->R,WK$)A^SR!G( M(]=C%ADY>=1XQ+*0-OF)MO8*7DB;_"T=+))K>?'+6&^2:WGER9A%$]%:%I)K>4'92&\+R;6\M&O,(KG.@@^]2:[S M\].M92YMY$6I([W-I8V\.W3,(KF6[XC'+))K^=ITS"*YEKU"8Q;)==X&TY[; M3-K(J[Y'VLRD3?YR&6TDU_(JZ+$VDFMY._*(92ZYEIT&8Q;)M;PZ=\0RDS;R M@Q1C%FF3-R3AW"37\DL&8VTDUUGOHHWD6MYT/]9&#3#DN"Q_':7\[=I\Q;/M+M_]X\FWW683>^6%WWD/^]<3\CZ>R`>&7_9/\ZN%A+\)7^97+G?S> MW'EZ:OSS?O_4_R,=X/B[F1_^)0````#__P,`4$L#!!0`!@`(````(0#++=/= ML`(``%D'```8````>&PO=V]R:W-H965T&ULE%7;;IPP$'VO MU'^P_!X,A+VA9:--H[21&JFJ>GGV&@-6,$:V-YO\?<>8I4MV%9$7+L/Q.7-F M[&%]\R)K],RU$:K)A+-:VHA?U.)UAS9))M")ZE^VK=73,D6*':B M%O:U(\5(LO2A;)2FNQI\OT0)94?N[N6,7@JFE5&%#8".^$3//:_(B@#39IT+ M<.#*CC0O,KR-TML5)IMU5Y\_@A_,R3,RE3I\U2+_+AH.Q88VN0;LE'IRT(?< MA6`Q.5M]WS7@AT8Y+^B^MC_5X1L7966AVS,PY'RE^>L=-PP*"C1!/'-,3-60 M`%R1%&YG0$'H2W<_B-Q6&;X.@R2>+981X-&.&WLO'"=&;&^LDG\]*NJY/$O< ML\#]R#(/9HOP>@()\1EU!N^HI9NU5@<$FP8D34O=%HQ2(+[L"*PX[-:!,PR; M&G(UT(7G313-U^092L=ZS*W'P/4_9D`0$!V406VZL@,[95=;E\JM#YS*Q)=E MKC\BX\`93DZ3CQ8#KU?V&&C;8#`9$".#0#/=H`-##X!\H#VOK0=-D`;(=&D' M[J2'XO:1T^I&T?*RR_E'I!QX+-5'XN[\G6Z/Q9C7';DX3((%Y/;^)G4+QQI] M!+;,26U7E^VXB3WY/#CP6*J/G-M9C7F=G21*_B%<3B^80!M+)2RQQ?XN8?```` M__\#`%!+`P04``8`"````"$`4JGOASP&``!H&0``&````'AL+W=O]U?7[>Y:?F7&[][V7G?WCX]9?[UZ9][HYEV7L0X=QM M_6/?7^XVFZXXEG7>K9M+>88K^Z:M\QX^MH=-=VG+?#?<5)\V-`CB39U79Q\C MW+5+8C3[?564'YOBI2[//09IRU/>`__N6%VZ:[2Z6!*NSMOGE\NJ:.H+A'BJ M3E7_?0CJ>W5Q]_EP;MK\Z03K_D;"O+C&'CY,PM=5T39=L^_7$&Z#1*=K%ANQ M@4@/][L*5B!E]]IRO_4?R5W&(G_S<#\(]&]5OG;&>Z\[-J^_M=7NC^I<@MJ0 M)YF!IZ9YEM#/._D5W+R9W/UIR,"?K;?V]K`[''M(=P8KDPNYV MWS^670&*0I@U'6@4S0D(P*M75[(T0)'\V_#[M=KUQZW/XG7$`T8`[CV57?^I MDB%]KWCI^J;^#T%$DAJ#4!6$`7MUG2X-LD%"P_H^YGW^<-\VKQX4#3RRN^2R M!,D=!)8+8R`/TAB7>FNEP$X&>911MCY4.]S>07J^/B3B?O,5%"T4))U"B(W( MK@B9"&`W4H1UFQ3?UOS*1((E$RF$0`6,W/2#!T0VA["HP7.64Y-@R+/QW,2EAA`QY')%:92$H0/) M;`@AA"71N$"+'*S0)'.@FVF0DVAD5F"$%F3`CF3)+,O![1.-#26[3$>VA) ML$/+:<44(4B+"AXX@F;F=<%#O2J+%8'ANERM`>WPEQ8[-T[&`A2QSR,++& M42MT.6/=$<28))P:R&8A-DTYN0TQY[N"X)RW1'0&1JHP*"()*8>!:^N<69`H MCCG5Q6*SD[-[.3N<]"8[HX:4>(A!=E$H8NJV+3$1(>Q?PUODY-`VR"W,,(YZ MBZ2>#(HD8E0=$I[P8))A$\)$F.A:MA5\EV&0J6.X8RU5&$4NCF+&)_DU36,5 M!CR.-,2FY]C&#\IOZA>NVZ?$M(,5H3P4@=9FT#>S,"(*DN!6$[_+,\C4-%RS M2A5&J4>Y"&,G^YD-B0+.HEN3T/&.A17XAHDX39`2TR5@7R5"Z`.WBTT,^%L8 MW*!)W^4E`]K>4!$C/]@A"@1-,,Y)E]XLQ"I"ZAC*?!$.:-OKB+%RQ0_=1J69 M@0OK"L,:5&&NA1"%L1ZD-KN?,A**)F&.&6+L0!1+!"$':(()QZG3W+(["D\R MA^$/-)1H5T,](A0[!%T5@JW=A)^-F-'P73Y"T0'@=2PNX@[@5(%F*Q#CO`VQ MJ9@X&A/B[%UO%==D*G=D("=[>E0#=$4KUL>PX%RKA"$(=8=*98F9!4'++[A*_(`:'G7#&BG:X@S45(%BO`\(7)/0C)U_=I5L?'G MLJ4@O&HH`(I"G+_$#DB9Q:$<)((70DVS9_R%O:&MQ!G%Y,J M$-*$\9D$@D]XFOX#6[6`1$3WG\W4\9>%@K[A,T;1*T%-%Q'0%IPZ99$Q$T)H MPJ%W=%YLHH[5+"3ZAN40G31%=,Y/L'?8',3F*8?_8LN!0^N)Y1#7*#^2.4A MJO-]"@?MPZGT9KP`Y]R7_%!^R=M#=>Z\4[F'D,&:`Z<63\KQ0]]^KVG!!-&>K%D%*YE4@A@8JMS7M6(D M;3:)TH^"(/8%X15V#BMUBX?,,D[9@Z1'P2KC3!0KB0%^7?!:MVZ"WF(GB'H^ MUG=4BAHL#KSDYJTQQ4C0U5->244.)<3]&DX);;V;P86]X%1)+3/C@9WO0"]C M7OI+'YPVZY1#!#;M2+$LP=MPM9]C?[-N\O.'LY/N/2-=R-,7Q=-OO&*0;"B3 M+FS2.WEAC1HS92 M_'6B\&SE3**SR03HS^O1K2:^`VKB>R"&;-9*GA#<&3A2U\3>P'`%QC:P":3' M872A?A0IA&A-MM8EP7#98;N&ZKQL%I.U_P(9I6?)[E(2#A7[5F$+`70=(L3= M1_Q_SEL2*[8DM@86;>!K@>P M>+=WC$X"3AWC2+&_IA@@PCE]Q.O)LF*H=^_2,`PG/9._>#9:WKOEN5L.X][-&-#-AW37J:QX1+4843G)>U67P7),-I1`48-XV;DX M.-&ULG);;;IM`$(;O*_4=$/?AZ`-8MJ/84=I(K515 M/5RO88%5@$6[ZSAY^\ZP-F9-BZW>)`;^^?>;@QDO[]^JTGJE0C)>KVS?\6R+ MU@E/69VO[)\_GNXBVY**U"DI>4U7]CN5]OWZXX?E@8L765"J+'"HY?-W(JPVM8."W&+!\\REM!' MGNPK6BMM(FA)%/#+@C7RY%8EM]A51+SLF[N$5PU8[%C)U'MK:EM5LGC.:R[( MKH2\W_P)24[>[<7`OF*)X))GR@$[5X,.[:[7K8%^L7H0?8^6[+@AT^"I5]83:':T"?LP([S%Y0^IW@+@MU!]%/;@6_" M2FE&]J7ZS@^?*V>0D:8V")]?Z0R@8J"C1-,T2GA)0#`7ZMB.!I0$?+6 M_C^P5!4K.YPYT[D7^B"W=E2J)X:6MI7LI>+5;RWRCU;:)#B:A$!_?![<:N)J MH#:_1Z+(>BGXP8*A@2-E0W`$_0488V(30-(87:K_RA121),'=%G9,.T0+J$] MK^L@CI?N*Y0T.6HV0XUO*K8G!78"\#I&2+S/^/>BGU!0C"C8!&3;Z!O@?6:[ M.'>HF$TZB4$"%>J3G*HU3H1!4-4>0.AYG;^&U!HH?`=Y)F@5VS&%P0@'73*& M,/#CC!@$0]D[WY]>-E!KXK:]TR"*YI&9Q+8O"(-H&IT;;!!"FGW"<3(4FV2A M=_;5U=.:L>J-*0RVF8)Z_T9JQ(HXI#,9XR(@OOO%A MQ*!KC=::,<8QA<$(*^T_"ME&F94[-?T0X)OYXOX&US?>=[L'L#T;DM.O M1.2LEE9),[#TG#G45>C]JR\4;]HEMN,*]F;[L8#?213>_)X#XHQS=;K``[I? M7NL_````__\#`%!+`P04``8`"````"$`+0SR/V\'P__-^?T:?9<'`ZKP^/ZUUSJ.^'/^O3\(^'?__K M[JTY?CV]U/5Y0!$.I_OAR_G\NAB/3YN7>K\^C9K7^D!/GIKC?GVF7X_/X]/K ML5X_MD[[W=BQ+'^\7V\/0QYA_VT:?:O%.++=K<]_VR##@?[S2)]/C3']9<=]?N'[:TW M,G;["X3?;S?'YM0\G4<4;LP;BGV>C^=CBO1P][BE'C#9!\?ZZ7[XV5Y4KC4< M/]RU`OVUK=].O7\/3B_-6WS7^Z'SFPTM:VY.Z4H7^K3.=JRD,/!YMOIW.S_YD:V",6# M."((_91!O)$SF]@3GUYZS=,5GO13>EJCV63B^3/V_BOO](0G_12>KC^:3"W7 M9J_\8,/)LNT]_92O_V##?>%)/X6G/_*CC[:8IDDNY[8O`UH#J&&GU[7;$:R%RR<+'3>]*[T?U7Y5/(LRF<6YGY(LQ\5]8F&Z_<' MQ[7OQM]IB&V$S1)M#(N5M&#CB84-3!":(#)!;(+$!*D),A/D)BA,4)J@ZH$Q M2=OI2VG^'?JR,$Q?JV,?"7W.BJVIU)IS:0$$@$)`:2`$F! M9$!R(`60$DC5)YK:M%1J:E_>:,CIEEFWHDHQEIRX-`WU9':-BNV,I%L`)`02 M`8F!)$!2(!F0'$@!I`12]8FF(6T:;M"06>L:,$Y>FZU[1F=-D9R15#8"$0"(@,9`$2`HD M`Y(#*8"40*H^T31D)[[^!NKZP&76NH:<.&II7P$)@(1`(B`QD`1("B0#D@,I M@)1`JC[1!*,=NB88VW$ZDQ&-ZAOWG"R0KB4GI&6_'B?&)-@9=?4()`02`8F! M)$!2(!F0'$@!I`12]8DF+SO.:/I>+\C67%=1(%U&QUQ+E%6G(Z(0480H1I0@ M2A%EB')$!:(24:4A75*VN>^/<5:R[HR=_&^M679B-(I6(%UNUS>J5EDIN7FL MWM01HE6$*$:4($H198AR1`6B$E&E(5UNMOWOR_U.!?/3`NTPI3)+=K@FE7O* MK!`%B$)$$:(848(H190ARA$5B$I$E89T_=B6_@;]^`E`TT\<"O2%?6J69&$B")$,:($48HH0Y0C*A"5B"H-Z9*R7?T-DO)#@"8I1SZ_OV;W M;2L;4(`H1!0ABA$EB%)$&:(<48&H1%1I2->/[>C[^O&;SQ&['S^_;#=?EPVM M\K3$7EA]7+KA%/>>_%R@R[`N%\SWU+9E3:?&+!)($^452J14CP3RK3;0 M)T.B&#T2Z6&W'N[<]E3'VW)*T2F3B-+>)<2>&$W.A94G0H_FQF)=J#`R8Z5$ MJD^50#X/XSG3N3H]Z:EAYX\;4L./*]HP$2>8]N]P;>]7-D<>2^GWAZDU<2?& M94(@3!SE%4JDKFTB@7R'I\90.4:/1'JPD?W]P9W/IL9Y)T6G3*+^)?&%U(A> M>3RT/@0+%4/E12BC.E3IS?/LV4PU3\L+"7-+7EIS?,L!)CQAD972I4 ME"XU$JDN50)U0\:R5!P]->8I\OILYN!)42!ZHVS02B`Q9"86^T^OL`"]0HE4 MA44"_6K(H$S<>>F[8D?*&W/`3J)8;CK1APY$8-NZ45F*C&X$#7J%$JL0B@7XY;$00Y9%( M#SEL?)S0P"F3;WYGV(A>B94&)S3H4BD#JP961@.=B:,*3L^,>2C^1SMH!\_* M`GE^;Y[C5MZL740]?S*#H23B](>20*KL(A%:#B5STR8;HSP2Z2&'TARG.7A- M)N.\,Y1$IWAH&DI&%EEM-#S'15'3Q@["O>'TC]+&#]0:R.,(T^= M(U;L;I0VXQ/>-_I@R;(=8],:")O>P`PE4O48(8H1)8A21)E$:@7-!:*U1FI< MH%4ID6I7I2%=9_-H;NK\9_/ZJZ,E197G&0>/[`+U+S81!8A"1!&B&%&"*$64 M(@_AS3(78&,`]T@=,]5@"?3_.RD34X"]3/=H3;3:GT39YGN<3_3:L'16LH^6M%:>KV!K;E>B@*1 M&'(&6B$*$(6((D0QH@11BBA#E",J$)6(V+>ZK,!Y'[E^_-M;_C'BOCX^UZMZ MMSL--LTW]ETM[4(>[CK,/_I=NI;\ZM=\8KL+=GU/`L(3CYZTDSL\F="3]O(3 MGOCTI*T7\XE#3VB"NO`>9T9/VA2:/M,%?3UPP8,<+MK/%_37W0OV-O6>_DAY MZ0E]#4U_3[OTQ*$G[;V@V2I[NEC1;1SZT!7@@EWPX1/ZZ/KSY5CTD@OV2WKY M17M*UJ5X_\\V[^RUDLS5^:,WV6W:[2+_09?DVWXQ;[1N&I:<[R%VKHN/NP M_^'_````__\#`%!+`P04``8`"````"$`L5G"=<4"``#)!P``&0```'AL+W=O M.#:"-7F)`XC M$O"V4*5H]SGY\_OVXI($QK*V9(UJ>4Z>N"%7F\^?UD>E[TW-N0V`H34YJ:WM M,DI-47/)3*@ZWL(_E=*267C4>VHZS5GI%LF&)E&44LE$2SQ#IJ=PJ*H2!;]1 MQ4'RUGH2S1MFH7]3B\X\L\EB"IUD^O[0711*=D"Q$XVP3XZ4!++([O:MTFS7 MP-R/\9P5S]SNX8Q>BD(KHRH;`AWUC9[/O*(K"DR;=2E@`K0]T+S*R3;.KN.( MT,W:&?17\*,Y^1V86AV_:E%^%RT'MV&?<`=V2MTC]*[$$BRF9ZMOW0[\U$') M*W9H["]U_,;%OK:PW0N8"`?+RJ<;;@IP%&C"9(%,A6J@`?@,I,"C`8ZP1_=] M%*6MQ\BI(0H^:=^XTKQRJ.#$IC MIY:OG/+!Z8-%M"9H>`6YG#:],#G$1A3![I91]?L"P'U[" MF_\```#__P,`4$L#!!0`!@`(````(0#"6:?*^@(```8)```9````>&PO=V]R M:W-H965T,DPQ(1])<``Z/7\Y[SL%F?O]25\8SX8*R9F$BRS$- MTF0LI\UN8?[Z^7@7FX:0N,EQQ1JR,%^),.^7'S_,#XP_B9(0:8!"(Q9F*64[ MLVV1E:3&PF(M:>!.P7B-)0SYSA8M)SCO)M65[3I.:->8-J96F/%;-%A1T(RD M+-O7I)%:A),*2XA?E+05)[4ZNT6NQOQIW]YEK&Y!8DLK*E\[4=.HL]F77<,X MWE;@^P7Y.#MI=X,+^9IFG`E62`OD;!WHI>?$3FQ06LYS"@Y4V@U.BH7Y@&:; MT+27\RX_ORDYB-ZU(4IV^,1I_I4V!)(-95(%V#+VI-`ON?H+)ML7LQ^[`GSG M1DX*O*_D#W;X3.BNE%#M``PI7[/\-24B@X2"C.4&2BEC%00`1Z.FJC,@(?BE M.Q]H+LN%Z856$#D>`MS8$B$?J9(TC6PO)*O_:`@=I;2(>Q3Q(/KC?<^*D)-X MT>TB_E$$SB<1]]V1P.,Z.W#^)^+&`0K"ZWYLG9LNU2F6>#GG[&!`^X)[T6+U M,J`9*+^=6TBJ8A\4W$V!M`GHA^>E&[MS^QF*F!V9U1O,D%B_081#)+U$0G^( M;"X1-_;.C`WVSAZAAK=[5/#"A$J=/2(4G76[/*PT`^DZ,Z/HUE>)]"JQF2(& M_J`W;_>G8'@3>K&[\1I*NP$G@^9'K#(EUGT".'SM)E`R1=("X<>3Y"`V1 MS1")'!3T,CUP".7H.U0K@0?KR72WJDECIZ,ZK303=591Z*C?,,BU)B9JG5XE M-E/$P"<\IN]SVI^"Q_Z"8?0KS6A_GA\&?C#JY76?"*,D2.)1F5)-P/%_W;Z9 M(@;^PO?X4_#8WVBA6&E&M^J="PM[''KA*`GK$>1X;I2X(RC5T)3+*4*[U%N9 M7E];O"/?,-_11A@5*2!WCJ6V#*XW,CV0K.W6TRV3L`%UER5\;Q!8;!T+X((Q M>1JHK?+\!;/\"P``__\#`%!+`P04``8`"````"$`FW-7-M"38D/57/:V']]S3\M;:OKB^907'"#-O8WU-F?MS__M+[A M]KD[(]1;X*'I-O:Y[Z\KQ^G*,ZJ+;H:OJ(&1(V[KHH>?[K+J<%M\70!WF]>4)3"-_UAN*^KLL4=/O8S<.>P M0$W.L1,[X&F[/E3`@"R[U:+CQMYYJ]R+;6>[I@OT=X5NG?2_U9WQ[9>V.OQ6 M-0A6&_)$,O"$\3,Q_7(@$$QVC-DYS<`?K75`Q^+ETO^);[^BZG3N(=TA,"+$ M5H=O*>I*6%%P,_-#XJG$%P@`_EIU14H#5J1XH\];=>C/&WL>S`(_C)8>V%M/ MJ.OSBOBTK?*EZW']#[/RN"_FQ>=>X"F\+&9AY,ZIDSL3YWPB//E$+YA%GAO/ M(WC[G8D!GPA//M&?+<,P6"S?F0AN*6%XBC?Z$N$[KUSPF?`4,^_&ZK"EIIE+ MB[[8KEM\LV`[P%IVUX)L+F\%SD3*V*N')/Y7#B%YQ,F.>-G8L(\A.QT4WNO6 MCY9KYQ6*I>0VB6GCJ19[84$J@[A-=2#3@5P"'&`TT(+D?P`MXH70$@$E`I!X M:AR$A9B2ZD"F`[D$*!R@#C^``_&RL:$TQ]0$"S7HA-G,8<,/1H%JLA],!F(& MDAE(+B,*-XCG`[@1+U"X\)8A;C^*U<@39G27W&`RD#.0S$!R&5'(P7:6R4VW M/[%UB#'E(-Z=,,17=M/255GM!R,Q+360S$!R&5%"AJW_>,C$6`V9(1"RB&9O M(*F!9`:2RX@27Z3&Q]K4C+37_ER5SPF&`H!>,+'4O`$"9`_P8(8JRP8LG!9 MWW4]?>OR&6-R4HY`0`,!+]3Z=<:-8NHV"N(XCM25R0MZ_X M"J%/[C*I0*D7C2*3:;D_<"L)2DTH,Z%<@=3PB9!*X=_?1QZ371`/L4$3#DDQ M[4TH-:',A'(%4L,DHBB%^;U'+J:MJO@MM2-50H9A&]U5O]%&K$1J0ID)Y0JD M@R!+XTZ`;P2U-^U'*S$Q-:',A'(%4DD1 M]91(O5-?3&N5R!FDU)2+"5(F664FE"N0&B81T]0#YT#/"[$T1Y=+9Y7XA5QH0,5NUP/,;EM`3N"ZA5:&-K+SYJL=NXC11J!? MPQR:.&,D@)&`M$%C)(01>I]BC,0P0B]\M)$T6L$!U?0%-T2[J8@3"22#Q2*0T5&?@#'=,U^*$?B_:4]5T MU@4=(64N_7IHV2T5^]'S\\T3[N%RB1YUSG";B.`JPB7:=<2X%S_@U)H(``#7)P``&0```'AL+W=O'V[&_WR6'Z[&HZ;-C[M\7QV+F_&WHAE_7/_ZR_5+57]I M'HNB'8&'8W,S?FS;TVHZ;;:/Q2%O)M6I.,+(?54?\A:^U@_3YE07^:Z;=-A/ MHR"83P]Y>1PK#ZOZ$A_5_7VY+;)J^W0HCJUR4A?[O`7^S6-Y:GIOA^TE[@YY M_>7I]&%;'4[@XJ[KJ^[!/U;%B^-]?]1 M\UB]_%:7NS_*8P'9ACIA!>ZJZ@N:?MHA!).G;+;L*O!7/=H5]_G3OOV[>OF] M*!\>6RAW`A%A8*O=MZQHMI!1<#.)$O2TK?9``/X='4IL#/- M.`XFBS!8Q@OPAY\ZGGPOS,$@447)7QJ^W`QB:Z2,'GME^9Z)GQ> MPG"JTMM5*\O;?'U=5R\C6`*0P.:4XX(*5^"K+Y/B;`KWO;I!P=#)+7JY&$"T@)(#-!\/R$&]'(SAC:T2C.GI#?*)H9%;HQF MU"0U)B8PA@B&2!LAL0&?GQ`;>H'&A5\QO'G?*:.SP1D3$QQ#!$.DC9#@8#7; MP?FWO'[IH'$70__;&X7$T-I65`NG'L:HGY8Q1#!$V@BA#$O_6GD!A6FI72*R>EQLBDE"&"(=)&"&4\R5@[Z_DN M0&-*62%V2AF2,40P1-H(X;>D_+J=/YQ-4%[?N/NC)TI>(4#>SO?2R;=0QB'!(4D@2A,ER^H+S'L"V!MS'BKE@[VO MS]Y&0S3K2>!D?;#J)V8<$AR2!*(AH8)9(9UO]5#I'6&N())Y!F5ZHF4E."0) M1&FB&EU.4VD7H:GE#*@-VTC"3C'&:D@P@P2*%BP:V))Z*TD@RAREYG+F2I@( M[]_@B6L$E`F#AG:]%;+3O/B]ERN72>:&1OLD#?-"[4 M2BLN7#=OKYT27!*N@N91'RXKFS*`C`_A:FBHI(@TA'WRO%XD01"PV+2)NC,C M%Q6.M+\O-J[XD8)F`_540Z1X^A``'^>*IZVP=Y[7(088.)TA>^>>ZJ'^GJG> MY^KTO95G=ZM2<5(^)NPI'C6HUF<<$AR2!*+-AXIKT7]E42E])C299*<1@S(. M"0Y)`E&:**&7TU2"2V@:#1Y:(4J<1DXC8S6L"`8);B4)1)FCA%[.7`DN8?98+65VF!A M>UTN'2V1O6^^1/%RS([M79M0YX1*NX90E8>0W9;JC8:=*NLA:Y/M(;7)SJZ2 M^,K1&-F;\$T6[])^/#XN_IU?"'FH5LJA3$.X0YHL\`+V5GJ3[2)T-]G>N:>" MCO2[%;QLD\4+,E@V=M=JR#Z=<2CCD."0)!!97#'JH[6XD/X\?L]=5.?)"4&+ M+VP`)O^1>T))]40KT(Q#@D.20#0JU$TKJO/2$2N5)@3Z?8_M,1=I#>&^:B7?O0H".J)5IP9AP2')(%H4*BU5E"O M-+Y29L)<01:G-&90QB'!(4D@2A,UTZ*)N5]&[[FOPL<_=^-4$&W\N7M9J"=: M@68<$AR2!")1S1PQ/Y_\SIKNEQJR.*4R<+`RNPZ'!(B3L2Q_`[W9\SV,@,1F8^!G$"(]WK(VS.'$;FWCD+&.E.4&S.%8QT M6NN.1!`IG&(].8B``3P\^D:``3RO^4:``3P/^4:`@5IW+H,8\@;G)\^<$+(# M=_*^$>`&]]J^$>`&]\:^$>`&=Z^^$>"F3KHNMQ`Z!"X(/7-@BC>?,,%K'T*> MX4]G'D\A=!3\!&ULK)I;;^I&$,??*_4[(-X/^&Y`@>J` MP1ACJ:I.VV<'3+`"&-E.[#[\]OU\ZKT6 M=5-6EVG?'EC]7G'95?OR\C3M__EM]674[S5M?MGGI^I23/L_BJ;_V^S77Q[> MJOJY.19%VX,(EV;:/[;M=3(<-KMC<A8UG!\)R7ESZ+,*D_$J,Z',I=$56[EW-Q:5F0NCCE+?2_.9;71D0[[SX2 M[IS7SR_7+[OJ?(40C^6I;'_0H/W>>3=)GBY5G3^>8-S?;2_?B=CT#Q3^7.[J MJJD.[0#"#5E'\9C'P_$0(LT>]B6,@,C>JXO#M/_5GF2.U1_.'JA`?Y7%6]/Y M[UYSK-[BNMQORTL!:D.>2`8>J^J9F"9[@L!YB+Q7-`._U[U]<^@\L=X)<[V%"(=UKP MN`/\BNX%`S^T7!M&\]%N@B7M)OR*(`//\<,1#7*G]8`[0A]%=]V![5D!:?R. MWYC[P:]L\`-N-F2?)8.4`1,\'(Q\WPM&X?T6;9E'E0O[0WVU14[(?XA1CNZ, M!B^PB38<9LYMK%UBX6P(!5/PD8F6)I@98+8!&L3)";8F"`U MP=8$60<,04DI)R3R9\A)PA`YA1!S`3KZ&MH)"^$2F6!I@I4)8A.L39"88&." MU`1;$V0=H&D'U?U0INHXNUIS9N#!CI9&GFRRDB104D24B*T1B M1-:()(AL$$D1V2*2=8DF+:CQ,Z0E86"A@&:D;$X8ZL+-F=%=;:6)U!:1)2(K M1&)$UH@DB&P021'9(I)UB:8MK/&:MK4)#'K8E#\AAHCV6N^=Y!;,/-J`;A>;"ULLV M9!)$5XT1'U9?-7G=L5%GTDC6&0_DR+UHR8F2?X5L8AY'*VK/TAM;VX&1,CT:V M986A,<,CY+.4A!RGOA@JK/A3=4:(&0ELVH8[MCTU.EH3:^22R":4WK9O]&S# MC#P>=S`V%OQ4!A'YV**&,D9XWSPG'/NR%C3EX?#]">6)M:X\(^SN1@>]8,3S MJ2JAY;N^L=-'R&D''%G[);%5E^8D8",OM>9^YX%+IR=$QYY)+()NXI MSXP\C\758Z8R@I0=M9(QPCOFV:.1ZI@F.[G$?$)W:JX++U"GY@5B10]7-S@K MJ+1382)AH]R6"MVL>_&X4_@Q&VL\7&/%(D\ND,8$X*@[`SCB4\"WR#]Z M+478:ZG0S4D@'G=F`4>BVBPG,':7-79*!.H>Q6^D@0V4SP1[,#(BIRJ,R@/S M@9<;`F5&#QVGLPKK>2!WE$_D@5UIX&`LFIK;'*G"7@C$-P'7<1W;7(N$C7); M*G0[$;PA56XQ]Q#E9KF!D>^UB*F<$H'>F0^L-3X?[$&@%A0ZTU(51DBQ%4@U MEG$D>NB$KGI9H">"7&D^D0AV`](2P9`V(1CB$\(-8:>`>JMQB[B$G1(#7)>24J&;NKDM\"'QKP.L2ZO]6!%8=S(P..KZC]CH]#>3V MTTW#?SJ3VNP.!:V*VIASY`42+00:T5W/"_P1FB0\3G>22'1[T^"/50G&O!E1 M@M88KU;(*1$C>&>2,$9D8/OK MSH8CV!^$H"FVV@JD6LPTI(M*[F?W1/U67>$(=/,:UMVBV35/4Y4AN/&+SBYL MA"*,EABM,(HQ6F.48+3!*,5HBU&F(5U$57%&Z77VG@_R.TUW+&-+RBE!$OIV0G45E?XG1"J,8 MHS5&"48;C%*,MAAE&M+%(A>+KEAT/[#@C63AO9\G$W MK6J3T'H**X[>T_L=I.9ZW7'42=@"HPBC)48KC&*,UA@E&&TP2C':8D2^;*H* M9&*Q+Y7LP]"YJ)^*17$Z-;U=]4*^0D*Z9@\2LT^DY`PW?B#-W)_#2 M_$9\#^+3_<4,Y$W@33!VF/L3>-]Y@X-*5*2A#`0?&ULK)A;CZ,V%,??*_4[(-XW!,@%4)+5)-S52E6U;9\9 MXB1H0AP!,YG]]CW&F&`?.IIL]V68_'+\Q^=B^\2KK^_E67LC55W0RUHW)U-= M(Y><[HO+<:W_]2W\XNA:W627?7:F%[+6OY-:_[KY]9?5C58O]8F01@.%2[W6 M3TUS]0RCSD^DS.H)O9(+?'.@59DU\+$Z&O6U(MF^'52>#6LZ71AE5EQTKN!5 MG]&@AT.1$Y_FKR6Y-%RD(N>L@?G7I^):"[4R_XQRNJ:V7N)<<+K;+G,_C];LZR7&BW'Y!\6>05K>FAF8"*?78-UP"ES6I? M@`S\V?]!:3XGAJ(-US\(@YYNV_^Z3.(:(@,['F M3"FG9Y@`_-7*@I4&1"1[;Y^W8M^G84Z<^7RV<):?GPA8MM[`LQ-YW!E8 M&:T&/']\(FXG`L]')V+P#+4)][,FVZPJ>M-@%4$.ZFO&UJ3IF5`H(M4\,7WR M_ROWD'2F\L1DUCIX!VFMH6#?-M;27!EO4&1Y9[/%-HK%3EBPBF*RO@H"%80J MB%00JR!103H`!H2ECPU4WL^(#9-AL1%>;048!$L.U4Y8B"&^"@(5A"J(5!"K M(%%!.@!2(.R10-A0+./[@:@)-FJMP]+K:\*T+-G1+;=A6KW13#;9]29],!`) M$`D1B1")$4D028=$B@GX]3.*@\G`VH/7]`&PEFJ4N-&'4>I-^B@A$B`2(A(A M$B.2()(.B10EV#.E*'U<,2`SS$0D0"1&)$(D1 M21!)AT3R??&0[\Q:]IT3FQ^P;#O<(>(C$B`2(A(A$B.2()(.B>3H4G&4GR$3 M=L0VIR)_V5*H;=AD1Y)OPUG!3Q`F(OO?$:O?.'<=X7U">T!P8L'4^N5CSI=R M?02]D:B/$)$(D1B1!)&4$[.=D!02*%BI[G\H)$Q$#DE'!B'IR"`DG%A+?@I/ M364_#?KO^V@@C0B1N!_5GNU3TY9CG/3?"]5TJ"'%!MH7*38C90$MGJ@+9BT' MH2.#("#BT$B(1H5(1(C$8EB*3#49*CK)]ZP-/67'95(*BSOKX7CASZ MG3"Z=QB^0,-QYEP9&`@KMRT5TW%=4UDZH3!9]H&,!+J_+A;HP]L80>R<-4(\W'68)6)]K; MQK8==Z$TN*$P:7]^M?M>)-!=.Q;HKIT(Q+4MVW5G2JI28<)_V@W[6)/U=?\_ M>+P[A%9%+/%M*PP5*^<=1:\;>"\8OQMH0=_0U_5(??*![6;PMIE;CK-42CB\ MST!,*A+H_KKX4Z]+A!7;>R!_EC-WE/RE0GND0%FC^%&,O]$K1&KT$!SL=JP1 M5+:[#@W[`(Q\C`*,0HPBC&*,$HQ2"(]RTX1JH78ZJD@FO@+GB,?[2@S9FA#L> M-`:8QXX'1SOFONO!B8IY['IP0F(.-U9/[7:&9@H3';'?6A[\&L4Z6W!YS..G MF??$'3;Z-\"-U#4[DM^SZEA<:NU,#I"0:7MD5/Q.BW]HNI7Y3!NXBVH7Z0GN M'@ETW-,)]+`'2AOQ`69D]+>9FW\!``#__P,`4$L#!!0`!@`(````(0`0#:V< M*!4``'*!```9````>&PO=V]R:W-H965T8_V#XO6V5[C*2-*PJ7C$##`;=/<^.K21";"NPG)-S_GUO%LDB-Q_3B\?#U^V>U>+VB$Y^/[RR^O MK]]NKJ^/]U]V3W?'J\.WW3.U?#J\/-V]TC]?/E\?O[WL[A[Z3D^/U]/)9'G] M=+=_OO0CW+S\RAB'3Y_V][ONO=+^'[_LOQWC:$_WOS+< MT]W+U^_?_G9_>/I&0WS/>PIPR<[!K?__.65YGM!*;G,;A[^ZG;'>Y*4AKF:+MQ(]X=' MV@'Z[\73WM4&27+W9__WQ_[A]A(?V/'JV8^6;IMG^@V#]WH;^PV?J=I$WWF M]#<,TLRN5LUD,UN=WOHR=%RECIM?V6LZYOH-TM^XU[^TO4WH1W_'[6A#U>0G MUY55F+A3NWKMBZ.OM>[N]>[#NY?#CPLZ@FGZC]_NW'K0W+A18Y7Y.1KJ[F=E M1_7F1KEUP[R_I/RIHHYTL/SQ8;IT0\@@!A`! M1`)10#00`\3FA&E">8$F;GD>>>"X8>C8H\T,`C330H*M#SJITA`RJ`1$`)%` M%!`-Q`"Q.6$JD2!,I=,5XZ)[,6(26T]F5)@_EZ<=@F*W#H@`(H$H(!J(`6)S MPG*G3Y,1N;MHGKLGT[1PM$`Z(`*(!**`:"`&B,T)2Y0^+EFB_6=(,[]*G[:_ M_#GBAN(J>$(JY!6P*-:((6BH`"`"B`2B@&@@!HC-"1.&=IH)<[KZ733/W9.\ M`H!T0`00"40!T4`,$)L3EB@9&);HF2["#=,KD,_UDL_UU@>=7`R'D*$<@`@@ M$H@"HH$8(#8G3"7GKYA,I^NA#^<%$5"Q'A8*M2EJR!^10"01*40:D4%$WXWZ MR:1=I9W@,CB_E7O.-V3P]HP^(F,VV\:C_,!`U"$2B"0BA4@C,H@L0SQG9ZWR MG-T1LJ`T1MJ%QELT)H9'Q0JYXD=-&SIFDG6(!"*)2"'2B`PBRQ#7Q_FL7)\W M:L+;,B:#1UF"K7-5M)YDJ$,D$$E$"I%&9!!9AGC.SC7E.9^Y:C;>?;D-928) MOGT-'BU%%3ZS#2/1VAH/M0Z10"01*40:D4%D&>*".:N5"_9&D7AG1KK$;+;. MH%-%%.MG(56;HF+'#I%`)!$I1!J10609XC(X(S9"!N_;F`RYE>N_:;<-H`Z1 M0"01*40:D4%D&>(Y.X^5YWSN^NF]&A-CL&_IP&BFFW+]'*)230`2#2")2"'2 MB`PBRQ#7QUFS7)\W#@WOY)@,N;D+-0&H:P`)1!*10J01&426(9ZS,UIYSN>N MG]ZPD1A9`7^1(:$"L+'Y6A#J,$(HE((=*(#"++$,_Y-UG0:-2&"41*00:40&D66(RS#.@D[1@@:4'1@MH@Z10"01*40:D4%D&>(Y.V^7 MKP]G6M"I]XALX1AL8[Y^SK@#:4/'3+(.D4`D$2E$&I%!9!GB^CAKF.OSQOKI MG223`LW-W>)ZC3.@,S2@`;DR'$0HE6I34,RO0R00240*D49D$%F&N`KC_.<, M_6=`I$),L$74(1*()"*%2",RB"Q#/.>:_US2C6UG+*!H06=5"UH<0&V*BJIU MB`0BB4@ATH@,(LL0E\BYQ=R.O>$NO+G,+>C,(U86@#J,$H@D(H5((S*(+$,\ MY]]D06=5"UI<1MR&J-,K*)C++G6+=2,0240*D49D$%F&F&#S<1:T#^<6-""V M@C:S0JHV1<6<.T0"D42D$&E$!I%EB,LPSH+.T8(&E)L-1!TB@4@B4H@T(H/( M,L1SKEG0,Z["S]&`!L0,Z'197D5*4:DF_%B9B@*C)"*%2",RB"Q#7)]Q!G2. M!C2@+)L648=(()*(%"*-R""R#/&@<;&:C]6=@@)C)*(%"*-R""R#'$92E_YQM0/]C%FLUUXE&73(NH0 M"402D4*D$1E$EB&>W0!<7$)VQC1/7(NH0"402D4*D$1E$EB&>\S@7MT`7%U$^-R&* M!$J>'N>F&I7.,O+]'&>S%FBS`F)SXZ,RU&&40"01*40:D4%D&>(Y_\QFO;%Z MH*M:!)3/T8!.SE$U*IW=8ON['&=[^G!N>P+*5SE$'2*!2")2B#0B@\@RQ'/^ M;;9GB;8GH.*SK[Q#/47%1:=#)!!)1`J11F0068:X0N-LSQ)M3T"L*GQ4ACJ, M$H@D(H5((S*(+$,\Y]+VN,^^\^ZP7*(E"J@HB_*428I*98&6"*,D(H5((S*( M+$-('SVZ0$1@E$2E$&I%!9!EB@JW&V<\^G-O/@/BUW%*J-D4-,B`2B"0B MA4@C,H@L0UR&TI&>_K:P0ML94'ZL(.H0"402D4*D$1E$EB&><^DQS_=;*_2? M`15+:'D**D6EL@"7*C!*(E*(-"*#R#+$)2HMZ1ME@;9S!>ZQ1=0A$H@D(H5( M(S*(+$,\YW$>,Z!BZHNS3&V*2E/OQ\J.(8%1$I%"I!$91)8A+H/S=_DG MR1M3[^U@?O[-W59&I^2S;%I$'2*!2")2B#0B@\@RQ',N?>39GFJ%%C.@HBK2 M647_Q&R*2E4!1E1@E$2D$&E$!I%EB"M4NLXWJ@*MY(YUZUE M?_?HZY?]_=?MP7G-ZHGZ&;W0KY_8V]5@+&/>VXBR&VDC\J^2[%_D%Y![NBIS MI.FD8C^\2%%Q>(E((=*(#"(;$+VEA89GZJQ+'^F-]TAU^E&XO8PH4R>B3)V` MZ-FJ_LV)DZ;XM!$I8!`&AU&(=.H81BXLC$D!<63+AN$RC?.9:_29$>5ZA*B$ MNA!%CQ'%G1*()(ZE$&GL:!!9UI'G7/K,TVOF&KUD1+0"#K5?OARSC4'I>9XN MHKQ?LRA.!8L8M>EKIUEO-DUQ6,D8LAKD5!&ES>F(3F[.Q"B_N?5Z.2MJU<:( M?FM4H4U=!YM*1W%2N#PY&H/RXR[T2Z4G8I1;\_[X,)NM-\OBQ(F, M(>D)$151&EM'E,8V$?FQI[/-9EY,E8TA_M7`^EAY4K]2G[TC/$CM!%]/U>E64L$Q[$`]W%5':G/ZES9D8Y3(Y.Q>8GX]T97'6 MK<*;8$338R';@(JJ*+[IMBDJ547PIDE'@5$2D4*D$1E$EB&N4.D]WZ@*])@; MC[(:;Q%UB`0BB4@ATH@,(LL0S[GTF-YOC_Y@W0SF,_]@+;Z8;D/4R0_6%).* MQ`^>7^_$*(E((=*(#"++$!>L-*AO%`F:T(U'Q0=K(56;HI(,0\>(!$9)1`J1 M1F0068:X#.-,Z`9-:$#L6/%1&>HP2B"2B!0BC<@@L@SQG&LF]+P5=+"A<2:W M&X^*JBBO;J2HV+%#)!!)1`J11F0068:80LUDG.WT\=QW1I95`;U.W8W++H5U M%48O5(J,Z,'JE.C!ZISHP>JDZ,'JK>LZ*]$N[>;[U:B;H12,C:?)5MKSV MDX4-55)AI);?1*8TJ06,U`)&:@$CM8"16CDKU"J-ZNFEM)F@&XTL2X&*!9PF M%0LP2A\8I0^,T@=&Z0.C](%1^CDKTB]-Z/^G6-"A-I/!HN;%4ISN)+6&L*Q8 M@)%:P$@M8*06,%(+&*D%C-3*6:%6S;Z><6-6,QG<:RY+<4)T&\-.6I4L*-/. MCY^;E4H<:0=QI!TPT@X8:0>,M,M9H=TX8]M,T-E&5GP^%;)1-?FN%)8I`HRJ M"1@I`HP4`4:*`"-%@)$B.2L4*6WO6TO/8&]C6E0AGO&E!Q@M/<`H?6"4/C!* M'QBE#XS2!T;IYZQ(OS2Q9W\7;"9H<",K/J;*ZQE96!25Q/+#9:*26,!(+&`D M%C`2"QB)!8S$REDAUCBKZWZ1LCSO'%F6%ATJZ'8KC-*'.$H?&*4/C-('1ND# MH_1SYM/WOXKI?ZGP:??R>=?N'A^/%_>'[^X7+QMZ*?R'=P.//\@YF=_OK]@V2*RT;VD4ZMUIKH1VD,Y"U%MH] M.O%6:Z&=H]-3M1:J##HM4VNANJCO]8IF@^XOJO19T6S073B5EC6-1I?;:BTT MZW11JM9"VZ%K,;46V@Y=L:BT+*F%;C''EMLES<)/^M`LT%W6V&>[HEF@&X]K M+30+='MNK85F@>Y*K;70+-"]F[46F@6ZG;'60KK137^U%M*-;G:KM"QI#^A1 MK5H+[0$]H51KH3V@YWAJ+;0']/A*K87V@![RJ+70S-'##966!>T!/39>:Z$] MH(>K:RVT'7J@M]9"LTV/DU9:EC1S]!!CK85FCA[>PY;;.:V@U=K94HM[)Q#V MV)E-K(77H_2JU%LJ'WD)2:Z$:I?=O5%H6E"F]I:+60IG2 MVQEJ+50A]`X#;+F=T5%"KXO"%GKYW8U[KURE94Y[0*]:J[70'M`+R6HMM`?T M*JY:"U5(=0]N9S0_]"K`2A]J<6\-K;70_/C[#LH5>T;S0^^;K/6A^:'7+-9: M:'ZJ>W`[)=W\:RK*[5"+>R5T;332S7]7*?O,2#=ZEW"M#^GF'3[T(=VJ>W`[ M)=V\_2G[4(M[W7]E.U/2C6[JJ+60;G0G8ZV%=*.[^&HMI%MU#VX;THU^H:'2 MAUKU%M+M)WM`+?ZF\$*WV\9YK6HE M4HO[#:_*=AI2E+XTUUI(4?KQIUH+*4JW)M5:2-'Z'KBEJM:#-E_=.FV\NFW: M='7+M.%:YK]NE6FQMW MUVNE93VY<;>08@O='WKC;@'%%KH'D_K4"HGNJ*0^M9;;ABJY,M;6)5/CKB)K MW!W'%7Y+-=<+?SV(0C]X_^WN\^Z_[UX^[Y^/%X^[3_3U8-+?M_NR_^R^6/I_ MO(8;MSX>7NFG[ND;!/W2^>[N84<_,CYQKR?Y=#B\QG^0&-<_#B]?^Q]+__!O M`0```/__`P!02P,$%``&``@````A`"U1X.*/$```H5<``!D```!X;"]W;W)K M&ULK)S9B MYYQK6:)M14NB0Z3;W6\_64`E$E4_&H*F^\:B/V;]6:BL-0'BP[_^>'XZ^WW_ M>GP\O-R<.Q=7YV?[E_O#P^/+UYOS?__J_[(^/SN>[EX>[IX.+_N;\S_WQ_-_ M??S?__GP\_#ZV_';?G\Z(X67X\WYM]/I^_;R\GC_;?]\=[PX?-^_T#=?#J_/ M=R?Z[^O7R^/WU_W=0U/H^>ER=G5U??E\]_ARWBIL7Z=H'+Y\>;S?NX?['\_[ MEU,K\KI_NCM1_8_?'K\?6>WY?HK<\]WK;S^^_W)_>/Y.$I\?GQY/?S:BYV?/ M]]OHZ\OA]>[S$UWW'\[B[IZUF_^`_//C_>OA>/ARNB"YR[:B>,V;R\TE*7W\ M\/!(5Z":_>QU_^7F_).SK1?+\\N/'YH&^K_'_<]C[_/9\=OA9_#Z^)`^ONRI MM2E.*@*?#X??E>H!`5OH32?A.!\O7L8?_E[L?3J3[\#/>/7[^=*-Q+NB)U M8=N'/]W]\9Y:E&0N9DTU[@]/5`'Z]^SY474-:I&[/V[.9^3X\>'T[>9\?GVQ M7%W-'3(_^[P_GOQ')7E^=O_C>#H\_W]KY*A*=2)S+4)_M$ZMQ<#OW5(HYSX2RNKM]Q-30T&@WZRQH7Z^5R<;U>36^2C1:AOUJ$ M/DUL3H=Z05,#]:&KPGN#XE!(6Q6)K?/^"W$XN.H#5^;=;>I<8?+G^GX7NO;6[1QC$M=FRA!IB2=6W@ MV<"W06"#T`:1#6(;)#9(;9#9(+=!88/2!I4-ZAZXI/!T,:)._$_$2,FH&''K MWC+H!#QEE90^*VM9G3;-@9+:P@=29=E(!X0'P@`9`02`0D!I(` M28%D0'(@!9`22`6D[A,C:-3._T30E`Q-EN2F"\AL987DMC4:C5IGTD4-B`?$ M!Q(`"8%$0&(@"9`42`8D!U(`*8%40.H^,:)&VPXC:L.;.UZ&E'43'&[4VY;, M9-;;`7&!>$!\(`&0$$@$)`:2`$F!9$!R(`60$D@%I.X3H^%IL_*.AE?69L.W MA!I>QHFSML;)KC/B>+E`/"`^D`!(""0"$@-)@*1`,B`YD`)(":0"4O>)$0O: M\;TC%LK:C$5+^H,`B`O$`^(#"8"$0"(@,9`$2`HD`Y(#*8"40"H@=9\8#4^] MUVCX=G=\H0Y#IV^/][_='F@1H&W;P*PTIUUPNS=6(F8\6C)?=5NQG;:9=<1M MR9*V(-TZXZR7YM+O=48\?GP@`9`02`0D!I(`28%D0'(@!9`22`6D;@D=[.A* MC1#1V?+OATB)F"%J23]$VJ87HI8L^UL!9WUMA:@SZD($0@&0L"O5C_[*E(XZ M(Y:.02@!DG:E^M)K4SKKC%@Z!Z$"2-F5ZDMO3.FJ,V+INB]DQ%8E`8S@#HPS MRF[P0&O,S3!JM.COGYW-E5FE'1>478++2,:HQUIM`DB=3WVT"AB)5LA(M"+4 MBM$J821:*2/1RE`K1ZN"D6B5C$2K0JW:L#+#HPZLF#QXY_3HM,=>VE%SA[C5 M:&9&S3H:[=A*XN$R,F;-I=6Y/;924_3O'Z\7L_5J;8TMGVV:%&0SCP>,Q%_( M:-1?I*T6AM5F9G;"F+7$8\)(/*:,#"W["K-)'G/6$H\%(_%8,AKU6+'52)O6 M;-.F=?L9#I6P^P=ZDE*QQK]&M,++,KJQ,E.[QCT5E+'A:C2C@XD4M-O98RLU M!_UE3^JJP/T[0'\A*XWZB[35PEARL">!QP0]II,\9I,\YBPO,TG!2-JT%(_< M$A6CD0:L6:D1-R<@==@?FX!^/7RGL`[NS_KKAI*Q^DV+9C(.=NK(3U8]Y#*2 M`>1IM%ATLYF/5@$CD0\9B5:$6C%:)8Q$*V4D6AEJY6A5,!*MDI%H5:A5&U9F MC-31OA^C-];P-A-`>MQ';IT666NX?9345L88UEK2*SW6D@OTN:!8!8RD[X:, MQ"I"K1BM$D:BE3(2K0RUL)?(1HU'YF+5$/F$D\BEKB7S&:-WL+)S%9KE<6>V0LY*(%XQ$ MO&0E$:\8C8C7K-2(FZ&G2_Z[H5<2UHK;(FONL+;E.T=;25=W-5K0*7)LI]86 M7!H#`N>.KA(\N`+T&$[R&&FK<8\QR\MLE3"2:TPG>.XD[=VJ8. MUT,N(@^1CRA`%"**$,6($D0IH@Q1CJA`5"*J$-4&,F.D4C-C,9J4`'5T@JR(N*51LTD> M<]82CP4C\5@R&O58L=5(F]9LT_@S>]);Z:Y)J_$,LUV,:/,1AJP9J5&W.PV*@TV-@%-VVBK(%MG-HUH[N.J[A"YC&0` M>1KULZ1H%3`2^9"1:$6H%:-5PDBT4D:BE:%6CE8%(]$J&8E6A5JU867&2*6V M^C%Z8PUO,V']W)M*V%%XK#7<.O[MM!7M^#EB+B/IE1YKR07Z:!4P$JV0D6A% MJ!6C5<)(M%)&HI6A5HY6!2/1*AF)5H5:M6%EAF,[2%RWN"`$C\1@R&O483?(8BQ9[3!B)QY31J,>,/;83 MXM*YOK9NZ>6BP]X*1N*M9#3JK7K36RTZY,WL.2JCU!_837Y=+;23\Z2S-BEE M#':-E`X_<.]LK/S@C@O*0'`UHCQIKR!VH59^8HQ97CPFC,1CREJCUYBQED,&(G' M<)+':)+'F.7%8\)(/*:3/&;L4>=<5XNKV=R:RG,6%W\%(_%73O)73?!7LWCC MS^Q&;^7S)FX%,:$WTPD]N<8=(A>1A\A'%"`*$46(8D0)HA11ABA'5"`J$56( M:@,9,5*_&H`58[Z><$>V*6EF=AC)S9^=(/7,RB]6OL"5KWLKQ$825&9=WY=Z MFK=YIOY*IM%2IM@=(A>1A\A'%"`*$46(8D0)HA11ABA'5"`J$56(:@.9L:#4 M@]%OQH\0FCVU70;YK-Y]1VNB!9\<[*1>0A\A$%B$)$$:(848(H M190ARA$5B$I$%:+:0&9XAI,W_./BR;^TG'?IFUZ05M:2 M]V52YIA)T6C9OC-`/>>]0^0B\A#YB`)$(:((48PH090BRA#EB`I$):(*46T@ M,Q8J^=$__+XQ5)2YM21I)+<7=W-`KD84L?Z`LDYSGECQZ/%1*T`42L&^O)5Q MB,2*Y6/42A"E4K`O;]4^$RN6SPTML^'5`?X=#:_,K89O4?]6+WUNK"06KD96 MPUL+C2=67'4?M0)$H13LMXRUUD5BQ?(Q:B6(4BG8E[>R*)E8L7QN:)D-/W1. M[S_4,ND6S1R/ZAHM:5'HK1GV49T+]D/4:M$S%,U;&:X66OU"SJ0>>."F_81KJ%T@L\V;F7*=1;]>[0^0B M\A#YB`)$(:((48PH090BRA#EB`I$):(*46T@8ZBI?O2>6&`^H%&@\,ALM$/D M,I(MFJ>1F@9Z`]-:17VQXHDC0!0BB@3UY:VY-!8KED\0I8@R07UYJ_:Y6)&\ MV?#O._RKARRL!5\C6MJXZCNVDEBXC/H-WVI9#6^M!3[+R^00(`H118)Z+>-8 MAZ58K+CV":(442:H)W]E[0%RL8*&'S[6RU.LDQ9\]:B"'8\6O;'@<\%^B'1! M2?EYVHKF4+V>6AW+9X-^=%H9"BNW:,A6FPY%@H9W%S$;B$R"*&4DRIF@8>6< M#1IE-@C1:U$O6;G35CWD(O(0^8@"1"&B"%&,*$&4(LH0Y8@* M1"6B"I%Z7Z-JPK9QVD'5OG^Q?6G<\_[UZWZW?WHZGMT??JAW*]+\\/%#A_6+ M'^?S[2=2HHG#^H;RDEN56AOZ9D'?-+^:A#)+^F90;7%%;YAL^M>HH;OZ%'M+?J`6S\AIZNWE:# MWU"*B&H]U)Z4W:%:#WU#B1FJ]=`WM[,-]8IFL;+:^G9._8CNT6#=;N?4DP9[ MAKO>5H-ML]EZ0S["S99>_8$>TLV6WMN!O-QLJR'N.O0%_8J`2EQVET$O2/U^ M]W6?W;U^?7PYGCWMO]`@OVJV,Z_M*U;;_YST+ZL_'T[T:E3:L-.K(^E5N'O* MEEY=T"3RY7`X\7^4@^[ENA__(P````#__P,`4$L#!!0`!@`(````(0##U*]6 M,@$``$`"```1``@!9&]C4')O<',O8V]R92YX;6P@H@0!**```0`````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M``````````````````````````````"&>PO=G%E(RQ(U M.[G$Q!F--X1O+;%0`FBW?R_KVCJC)X_D?7EXOH]BM==-\@G.J]:4*,\(2L"( M5BI3E>AINTZ7*/&!&\F;UD")#N#1BEU>%,)2T3IX<*T%%Q3X))*,I\*6J`[! M4HR]J$%SG\6&B>&N=9J'>'05MER\\PKPC)!KK"%PR0/'1V!J)R(:D%),2/OA MFAX@!88&-)C@<9[E^+L;P&G_YX4^.6MJ%0XVSC3HGK.E.(53>^_55.RZ+NOF MO4;TS_'+YOZQ'S55YK@K`8@=]]-P'S9QE3L%\N;`]F^N2;RO"_P[*Z3H[:AP MP`/()+Y'3W9C\CR_O=NN$9N1_"HEBY0LMS-"%TNZF+\6>&P-]]D$U(/`OXDC M@/7>/_^&UL(*($`2B@``$````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M```````````````````````````````````````````````````````````` M````````````G%9-3^,P$+VOM/\ARAU2*%JM4!I4FB"02JF4E#U:QIFT%HD= M;*>B^^MWDM#2LDY$>[,]\V:>Y\-C_^:]R)TU*,VE&+D7YP/7`<%DRL5RY"Z2 MN[/?KJ,-%2G-I8"1NP'MW@0_?_AS)4M0AH-VT(30(W=E3'GM>9JMH*#Z',4" M)9E4!36X54M/9AEG$$I6%2",=SD8_/+@W8!((3TK=P;=UN+UVIQJ-)6LYJ>? MDTV)A`-_7)8Y9]3@+8-'SI34,C-.],X@][U]H8_L8F"5XF83#'QO?^O'C.8P M0<-!1G,-OO=YX-\#K8,VIUSIP%^;ZS4P(Y6C^5\,VZ7KO%`--9V1NZ:*4V&0 M5JW6;IIU7FJC@C]2O>H5@-&^APKM8;/-EHX.I0L[;0,D'!(<>$ MFQST4S:GRE@H#P\X-RQ:QBVA;18)U@:)A,%XD0?19IO+?>:[.TR>9F$TBZ.0 MX"I^FCZ$XP0WM^/I>#:)3H!<6#&+V7@1/M26;0Y/@)SBIDW'1^YV$;BM-!>@ M=1.T*7^K>(IQLU**JZ*@:D-D1F*^%!P[!VN&C!F3E3!6R!W6'GFF>07D$:BN M%-1M=E!%.R83613<-/*&S$1B"L42>Q\[VFH]-I*]KF2>XF-!(J3>0?R."XI6 MQ)(DB@I-6=UT'2:K%PUO%9(DT;J3:G\D[,GIQ]B3TQ$^DM`7[)/OQJ1/W1Z: M/H2]8$@(AO*\@U-OX0SM]^C%7%DQ7>&*\?U/J^,@C?NC(#.J%+6W06]I$ZL7 M2VV3U@-?P_LIB7-HUYSU7&B?C@[(5%)!QLMC('/%L2O+ M8R`)J(),[7>)O[:NK28/AL^7<3/EXE4ORD2&U,!VGAX>^O&**DAQTFSEGP?^ M/8Y2E==&)BN*#U>ZU?E?4$__Y_:+$UQV>^]_F9"?X!``#__P,` M4$L!`BT`%``&``@````A`-3:N+33`0``'Q4``!,````````````````````` M`%M#;VYT96YT7U1Y<&5S72YX;6Q02P$"+0`4``8`"````"$`M54P(_4```!, M`@``"P`````````````````,!```7W)E;',O+G)E;'-02P$"+0`4``8`"``` M`"$`>Y-ZSL\!``#^$P``&@`````````````````R!P``>&PO7W)E;',O=V]R M:V)O;VLN>&UL+G)E;'-02P$"+0`4``8`"````"$`'-&@^DP#``"A"@``#P`` M``````````````!!"@``>&PO=V]R:V)O;VLN>&UL4$L!`BT`%``&``@````A M`#J>&3&!!```T`\``!@`````````````````N@T``'AL+W=OMW4&@,``#H)```9```````` M`````````'$2``!X;"]W;W)K&UL4$L!`BT`%``& M``@````A`/./=R">!P``@"$``!D`````````````````PA4``'AL+W=O&PO=V]R:W-H965T&UL4$L!`BT`%``&``@````A`.J7!(M/ M`@``J`4``!D`````````````````=B4``'AL+W=O&PO=V]R:W-H965T&UL4$L!`BT`%``&``@````A`!`X^.93`@``A04``!D````` M````````````FC```'AL+W=O&PO=V]R M:W-H965T&PO=V]R:W-H965T&UL4$L!`BT`%``&``@````A`%Q/T?[1 M1@``6.,``!0`````````````````83X``'AL+W-H87)E9%-T&UL M4$L!`BT`%``&``@````A``"0?[+W"P``W&T```T`````````````````9(4` M`'AL+W-T>6QE&PO=&AE;64O=&AE;64Q+GAM;%!+`0(M`!0`!@`( M````(0"`&A&.JP(``-8&```9`````````````````$N8``!X;"]W;W)K&UL4$L!`BT`%``&``@````A``ED01V6`P``5PP``!@` M````````````````+9L``'AL+W=OB@C\UP4``(,8```9`````````````````/F>``!X;"]W M;W)K&UL4$L!`BT`%``&``@````A`$Q!@IN?`P`` MVPL``!D`````````````````!Z4``'AL+W=O&PO=V]R:W-H965T&PO=V]R:W-H965T&UL4$L!`BT`%``&``@` M```A`,LMT]VP`@``60<``!@`````````````````5-4``'AL+W=O&PO=V]R M:W-H965T&UL4$L!`BT`%``&``@````A`,HG*9&PO=V]R:W-H965T&UL4$L!`BT`%``&``@````A`,)9I\KZ`@``!@D``!D````````````` M````&PO=V]R:W-H965T M&UL4$L!`BT` M%``&``@````A`(=_KB_6!P``22```!D`````````````````-@0!`'AL+W=O M&PO=V]R:W-H965T&UL4$L!`BT`%``&``@````A`"U1 MX.*/$```H5<``!D`````````````````6".`$`9&]C4')O<',O8V]R92YX;6Q02P$"+0`4``8`"````"$`OTX6 M"<<"```2"0``$`````````````````"'.@$`9&]C4')O<',O87!P+GAM;%!+ 4!08`````*0`I`!$+``"$/@$````` ` end XML 13 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; word-wrap: break-word; } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 14 R25.htm IDEA: XBRL DOCUMENT v2.4.0.8
Commitments and Contingencies (Details) (USD $)
 1 Months Ended 3 Months Ended 1 Months Ended
Jul. 31, 2009
Mar. 31, 2014
Initial Maximum Maintenance Failure Obligation [Member]
Mar. 31, 2014
Every 30 days until failure is cured [Member]
Sep. 30, 2011
PharmAthene [Member]
Sep. 30, 2011
PharmAthene [Member]
Maximum [Member]
Commitments and Contingencies [Line Items]          
SIGA breach of contractual obligation awarded, percentage of net profits (as defined in court's final judgement)       50.00%  
SIGA breach of contractual obligation award period following initial commercial sale         10 years
SIGA net profits (as defined in court's final judgement) before distribution for breach of contract       $ 40,000,000  
Awarded 1/3 reasonable attorney's fees and expert witness fees, plus interest.       2,400,000  
Warrant expiration date Jan. 28, 2015        
Percentage of aggregate principal amount of convertible notes   1.00% 1.00%    
Aggregate principal amount of obligation   $ 200,000 $ 200,000    
XML 15 R9.htm IDEA: XBRL DOCUMENT v2.4.0.8
Fair Value Measurements
 3 Months Ended
Mar. 31, 2014
Fair Value Measurements [Abstract]  
Fair Value Measurements

Note 3 - Fair Value Measurements

 

We define fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date.  We report assets and liabilities that are measured at fair value using a three-level fair value hierarchy that prioritizes the inputs used to measure fair value.  This hierarchy maximizes the use of observable inputs and minimizes the use of unobservable inputs.  The three levels of inputs used to measure fair value are as follows:

 

  · Level 1 - Quoted prices in active markets for identical assets or liabilities.

 

  ·

Level 2 - Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar

assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets

that are not active; or other inputs that are observable or can be corroborated by observable market data.

 

  ·

Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to

the fair value of the assets or liabilities.  This includes certain pricing models, discounted cash flow methodologies

and similar techniques that use significant unobservable inputs.

 

An asset's or liability's level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement.  At each reporting period, we perform a detailed analysis of our assets and liabilities that are measured at fair value.  All assets and liabilities for which the fair value measurement is based on significant unobservable inputs or instruments which trade infrequently and therefore have little or no price transparency are classified as Level 3.

 

We have segregated our financial assets and liabilities that are measured at fair value into the most appropriate level within the fair value hierarchy based on the inputs used to determine the fair value at the measurement date in the table below.  We have no non-financial assets and liabilities that are measured at fair value on a recurring basis.  

 

The following table represents the Company's fair value hierarchy for its financial assets and liabilities measured at fair value on a recurring basis:

 

    As of March 31, 2014  
    Level 1     Level 2     Level 3     Balance  
Assets                                
Investment in money market funds (1)   $ 6,428,787     $ -     $ -     $ 6,428,787  
Total investment in money market funds   $ 6,428,787     $ -     $ -       6,428,787  
                                 
Liabilities                                
Current portion of derivative instruments related to stock purchase warrants   $ -     $ -     $ 2,018     $ 2,018  
Non-current portion of derivative instruments related to stock purchase warrants     -       -       1,495,576       1,495,576  
Total derivative instruments related to stock purchase warrants   $ -     $ -     $ 1,497,594     $ 1,497,594  

 

    As of December 31, 2013  
    Level 1     Level 2     Level 3     Balance  
Assets                                
Investment in money market funds (1)   $ 7,928,807     $ -     $ -     $ 7,928,807  
Total investment in money market funds   $ 7,928,807     $ -     $ -       7,928,807  
                                 
Liabilities                                
Current portion of derivative instruments related to stock purchase warrants   $ -     $ -     $ 51,663     $ 51,663  
Non-current portion of derivative instruments related to stock purchase warrants   $ -     $ -     $ 1,688,572     $ 1,688,572  
Total derivative instruments related to stock purchase warrants   $ -     $ -     $ 1,740,235     $ 1,740,235  

 

  (1) Included in cash and cash equivalents in accompanying condensed consolidated balance sheets.

 

As of March 31, 2014 and December 31, 2013, the Company did not have any transfers between Level 1 and Level 2 assets.

 

The following table sets forth a summary of changes in the fair value of the Company's Level 3 liabilities for the three months ended March 31, 2014 and 2013:

 

    Balance as of     Unrealized     Balance as of  
    December 31,     (Gains)     March 31,  
Description   2013     2014     2014  
Derivative liabilities related to stock purchase warrants   $ 1,740,235     $ (242,641 )   $ 1,497,594  

 

      Balance as of       Unrealized       Balance as of  
      December 31,       Losses       March 31,  
Description     2012       2013       2013  
Derivative liabilities related to stock purchase warrants   $ 1,295,613     $ 905,777     $ 2,201,390  

 

At March 31, 2014 and 2013, derivative liabilities are comprised of warrants to purchase 2,899,991 shares of common stock. The warrants are considered to be derivative liabilities due to the presence of net settlement features and/or non-standard anti-dilution provisions, and as a result, are recorded at fair value at each balance sheet date. The fair value of our warrants is determined based on the Black-Scholes option pricing model. Use of the Black-Scholes option pricing model requires the use of unobservable inputs such as the expected term, anticipated volatility and expected dividends. Changes in any of the assumptions related to the unobservable inputs identified above may change the stock purchase warrants' fair value; increases in expected term, anticipated volatility and expected dividends generally result in increases in fair value, while decreases in the unobservable inputs generally result in decreases in fair value. Unrealized gains and losses on the fair value adjustments for these derivative instruments are classified in other income (expense) as the change in fair value of derivative instruments in our unaudited condensed consolidated statements of operations.

 

Assets Measured at Fair Value on a Nonrecurring Basis

 

The Company measures its long-lived assets, including, property and equipment and goodwill, at fair value on a nonrecurring basis. These assets are recognized at fair value when they are deemed to be other-than-temporarily impaired. (See Note 2-Summary of Significant Accounting Polices). As of March 31, 2014, the Company had no other assets or liabilities that were measured at fair value on a nonrecurring basis.

 
EXCEL 16 Financial_Report.xls IDEA: XBRL DOCUMENT begin 644 Financial_Report.xls M[[N_34E-12U697)S:6]N.B`Q+C`-"E@M1&]C=6UE;G0M5'EP93H@5V]R:V)O M;VL-"D-O;G1E;G0M5'EP93H@;75L=&EP87)T+W)E;&%T960[(&)O=6YD87)Y M/2(M+2TM/5].97AT4&%R=%\S83,P,39D-E]B8C@X7S0Y-C!?.#@R,5\X,V,W M-F9B86$T-&(B#0H-"E1H:7,@9&]C=6UE;G0@:7,@82!3:6YG;&4@1FEL92!7 M96(@4&%G92P@86QS;R!K;F]W;B!A'!L;W)E&UL;G,Z=CTS1")U&UL;G,Z;STS1")U&UL/@T*(#QX.D5X8V5L5V]R:V)O;VL^#0H@(#QX M.D5X8V5L5V]R:W-H965T5]);F9O#I%>&-E;%=O#I%>&-E;%=O#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I.86UE/E5.055$251%1%]#3TY$14Y3141?0T].4T],241! M5#$\+W@Z3F%M93X-"B`@("`\>#I7;W)K#I%>&-E;%=O3PO M>#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I.86UE/D9A:7)?5F%L=65?365A#I%>&-E;%=O#I%>&-E;%=O#I.86UE/@T*("`@(#QX.E=O#I% M>&-E;%=O5]O9E]3:6=N:69I8V%N=%]!8V-O=6YT,3PO>#I.86UE M/@T*("`@(#QX.E=O#I%>&-E;%=O#I.86UE/E-U;6UA#I7;W)K#I7;W)K#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I.86UE/D9I;F%N8VEN9U]4#I%>&-E;%=O5]$971A:6QS/"]X.DYA;64^#0H@("`@/'@Z5V]R:W-H965T M4V]U#I%>&-E;%=O5]O9E]3:6=N:69I8V%N=%]!8V-O=6YT,SPO M>#I.86UE/@T*("`@(#QX.E=O#I7;W)K#I7 M;W)K#I7;W)K#I7;W)K#I7;W)K#I7;W)K#I7;W)K#I7;W)K#I7;W)K#I7;W)K#I% M>&-E;%=O#I!8W1I=F53:&5E=#XP/"]X.D%C=&EV95-H965T/@T*("`\>#I0#I%>&-E;%=O7!E.B!T97AT M+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@/&AE860^ M#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C;VYT96YT M/3-$)W1E>'0O:'1M;#L@8VAA'0^ M)SQS<&%N/CPO'0^)S$P+5$\'0^)V9A;'-E/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^)SQS<&%N/CPO'0^)S(P,30\'0^)U!)4#QS<&%N/CPO2!296=I'0^)SQS<&%N/CPO M'0^)SQS M<&%N/CPO3X-"CPO:'1M;#X-"@T* M+2TM+2TM/5].97AT4&%R=%\S83,P,39D-E]B8C@X7S0Y-C!?.#@R,5\X,V,W M-F9B86$T-&(-"D-O;G1E;G0M3&]C871I;VXZ(&9I;&4Z+R\O0SHO,V$S,#$V M9#9?8F(X.%\T.38P7S@X,C%?.#-C-S9F8F%A-#1B+U=O'0O:'1M;#L@8VAA7!E(&-O;G1E;G0],T0G=&5X="]H=&UL.R!C M:&%R'0^)R9N8G-P M.R9N8G-P.SQS<&%N/CPO'0^)SQS<&%N/CPO M'!E;G-E'0^)SQS<&%N/CPOF5D M.R`U,RPW-S,L-S`U(&%N9"`U,BPS,#0L-#(V('-H87)E3PO=&0^#0H@("`@("`@(#QT9"!C;&%S M'0O:F%V87-C3X- M"B`@("`\=&%B;&4@8VQA3X-"CPO:'1M;#X-"@T*+2TM M+2TM/5].97AT4&%R=%\S83,P,39D-E]B8C@X7S0Y-C!?.#@R,5\X,V,W-F9B M86$T-&(-"D-O;G1E;G0M3&]C871I;VXZ(&9I;&4Z+R\O0SHO,V$S,#$V9#9? M8F(X.%\T.38P7S@X,C%?.#-C-S9F8F%A-#1B+U=O'0O:'1M;#L@8VAA7!E(&-O;G1E;G0],T0G=&5X="]H=&UL.R!C:&%R M'0^ M)SQS<&%N/CPO'0^)SQS<&%N/CPO'!E;G-E M*3H\+W-T'!E;G-E*3PO=&0^#0H@("`@("`@(#QT9"!C;&%S'!E;G-E M*3PO=&0^#0H@("`@("`@(#QT9"!C;&%S7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI M(@T*#0H\:'1M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS M1$-O;G1E;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA7!E/3-$=&5X="]J879A'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA'0^)SQS<&%N/CPO'!E;G-E/"]T9#X- M"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XU,C@L.#'!E;G-E'0^)SQS<&%N M/CPO6UE;G0@;V8@9&5B=#PO=&0^ M#0H@("`@("`@(#QT9"!C;&%S'0^ M)SQS<&%N/CPO7!E.B!T97AT+VAT;6P[(&-H M87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@/&AE860^#0H@("`@/$U% M5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O M:'1M;#L@8VAA2!;06)S=')A8W1=/"]S=')O;F<^/"]T9#X-"B`@("`@("`@ M/'1D(&-L87-S/3-$=&5X=#XG/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\ M+W1R/@T*("`@("`@/'1R(&-L87-S/3-$&AT;6PQ+T141"]X:'1M;#$M M=')A;G-I=&EO;F%L+F1T9"(@+2T^/&1I=CX@/&1I=CX\(2TM4W1A6QE/3-$)T9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE#L@5$585"U)3D1%3E0Z(#`N-6EN)SX@ M)FYB2!A<'!R;W9A M;"P@;W(@=&AA="!A;GD@87!P2!V:6%B;&4N)FYB6QE/3-$ M)T9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE#L@5$585"U)3D1%3E0Z(#`N-6EN)SX@)FYB28C,SD[2!F86-T;W)S+"!I;F-L=61I;F2!O9B!S86QE2!A<'!E86P@;V8@86YY('-U8G-E<75E;G0@9&5C:7-I;VX@8GD@=&AE M($1E;&%W87)E($-O=7)T(&]F($-H86YC97)Y('1O('1H92!$96QA=V%R92!3 M=7!R96UE($-O=7)T(&%N9"!F=71U"!V86-C:6YE(&-O M;G1R86-T('1H'1087)T7S-A,S`Q M-F0V7V)B.#A?-#DV,%\X.#(Q7S@S8S'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA2!O9B!3:6=N:69I8V%N M="!!8V-O=6YT:6YG(%!O;&EC:65S/&)R/CPO2!O9B!3:6=N:69I8V%N M="!!8V-O=6YT:6YG(%!O;&EC:65S(%M!8G-T'0^)SPA+2U$3T-465!%(&AT;6P@4%5"3$E#("(M+R]7 M,T,O+T141"!82%1-3"`Q+C`@5')A;G-I=&EO;F%L+R]%3B(@(FAT='`Z+R]W M=W&AT;6PQ+71R86YS:71I;VYA;"YD M=&0B("TM/CQD:78^(#QD:78^/"$M+5-T87)T1G)A9VUE;G0M+3X@/'`@F4M861J=7-T.B!N;VYE.R!F M;VYT+7-T2!O9B!3:6=N:69I8V%N="!!8V-O=6YT:6YG(%!O;&EC:65S/"]S=')O;F<^ M/"]P/B`\<"!S='EL93TS1"=&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@ M5&EM97,L(%-E6QE/3-$)T9/3E0Z(#$P<'0@5&EM M97,@3F5W(%)O;6%N+"!4:6UE#L@ M9F]N="US:7IE+6%D:G5S=#H@;F]N93L@9F]N="US=')E=&-H.B!N;W)M86PG M/B`\96T^0F%S:7,@;V8@4')E6QE M/3-$)T9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE#L@5$585"U)3D1%3E0Z(#`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`N-6EN.R!F;VYT+7-I>F4M861J=7-T.B!N;VYE.R!F;VYT+7-TF4M861J=7-T.B!N;VYE.R!F;VYT+7-T6QE/3-$)T9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE M#L@5$585"U)3D1%3E0Z(#`N-6EN M.R!F;VYT+7-I>F4M861J=7-T.B!N;VYE.R!F;VYT+7-TF4M861J=7-T.B!N;VYE.R!F;VYT+7-T6QE M/3-$)T9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE#L@5$585"U)3D1%3E0Z(#`N-6EN.R!F;VYT+7-I M>F4M861J=7-T.B!N;VYE.R!F;VYT+7-TF4M861J M=7-T.B!N;VYE.R!F;VYT+7-TF5D M(&]V97(@=&AE('1E6QE/3-$)T9/3E0Z(#$P<'0@5&EM97,@3F5W M(%)O;6%N+"!4:6UE#L@9F]N="US M:7IE+6%D:G5S=#H@;F]N93L@9F]N="US=')E=&-H.B!N;W)M86PG/B!/=7(@ M<')I;6%R>2!C=7-T;VUE6QE/3-$)T9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE M#L@5$585"U)3D1%3E0Z(#`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`Q,#`E.R!"3U)$15(M0T],3$%04T4Z(&-O;&QA<'-E.R!&3TY4 M.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-EF4M861J=7-T.B!N;VYE.R!F;VYT+7-T6QE/3-$)U9%4E1) M0T%,+4%,24=..B!T;W`G/B`\=&0@F4M861J=7-T.B!N;VYE.R!F;VYT+7-T6QE/3-$)T9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE"`P<'0@,S-P=#L@5$585"U)3D1%3E0Z("TQ M-BXU<'0[(&9O;G0MF4M861J=7-T.B!N;VYE.R!F;VYT+7-T6QE/3-$ M)T9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE6QE/3-$)U=)1%1(.B`R)2<^)FYB6QE/3-$ M)T9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE6QE/3-$)T9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O M;6%N+"!4:6UE#L@5$585"U)3D1% M3E0Z(#$V+C5P=#L@9F]N="US:7IE+6%D:G5S=#H@;F]N93L@9F]N="US=')E M=&-H.B!N;W)M86PG/B`F;F)S<#L\+W`^(#QP('-T>6QE/3-$)T9/3E0Z(#$P M<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE#L@9F]N="US:7IE+6%D:G5S=#H@;F]N93L@9F]N="US=')E=&-H.B!N M;W)M86PG/B!)9B!A(&UI;&5S=&]N92!I2!R96-O9VYI>F5S('1H92!P;W)T:6]N M(&]F('1H92!M:6QEF5D(&%S(')E=F5N=64@87,@=&AE($-O;7!A;GD@8V]M M<&QE=&5S(&ET6QE/3-$)T9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE#L@5$585"U)3D1%3E0Z(#$V+C5P=#L@9F]N M="US:7IE+6%D:G5S=#H@;F]N93L@9F]N="US=')E=&-H.B!N;W)M86PG/B`F M;F)S<#L\+W`^(#QP('-T>6QE/3-$)T9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O M;6%N+"!4:6UE#L@9F]N="US:7IE M+6%D:G5S=#H@;F]N93L@9F]N="US=')E=&-H.B!N;W)M86PG/B!2979E;G5E M(&]N(&9I>&5D('!R:6-E(&-O;G1R86-T2!R M96QA=&5D('1O('1H92!C;W-TF4M861J M=7-T.B!N;VYE.R!F;VYT+7-TF4M861J=7-T.B!N M;VYE.R!F;VYT+7-TF4M861J=7-T.B!N;VYE.R!F;VYT+7-TF4M861J=7-T.B!N;VYE.R!F;VYT+7-T'!E8W1E M9"!V;VQA=&EL:71Y(&]F(&]U65E)B,S.3MS(')E<75I6QE/3-$)T9/3E0Z(#$P<'0@5&EM97,@ M3F5W(%)O;6%N+"!4:6UE#L@5$58 M5"U)3D1%3E0Z(#`N-6EN.R!F;VYT+7-I>F4M861J=7-T.B!N;VYE.R!F;VYT M+7-TF4M861J=7-T.B!N;VYE.R!F;VYT+7-T'!E;G-E(')A=&%B;'D@;W9E2`Q,B4L(&)A3L@1D].5#H@,3!P="!4:6UE6QE/3-$ M)T9/3E0M4TE:13H@,3!P="<^)FYB6QE/3-$)U!! M1$1)3DF4M861J=7-T.B!N;VYE.R!F;VYT+7-T6QE/3-$)T9/3E0M4TE:13H@,3!P M="<^)FYB6QE/3-$)U!!1$1)3DF4M861J=7-T.B!N;VYE.R!F;VYT+7-T6QE/3-$)T)/ M4D1%4BU"3U143TTZ(&)L86-K(#%P="!S;VQI9#L@5$585"U!3$E'3CH@8V5N M=&5R.R!&3TY4.B!B;VQD(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE6QE/3-$)U!! M1$1)3D6QE/3-$)U=)1%1( M.B`W,B4[(%1%6%0M04Q)1TXZ(&QE9G0[($9/3E0Z(#$P<'0@5&EM97,@3F5W M(%)O;6%N+"!4:6UE6QE/3-$)U=)1%1(.B`R)3L@1D].5#H@,3!P="!4 M:6UEF4M861J=7-T.B!N;VYE.R!F;VYT+7-T6QE/3-$)U=)1%1(.B`R)3L@ M1D].5#H@,3!P="!4:6UEF4M861J=7-T.B!N;VYE.R!F;VYT+7-T6QE/3-$)U=)1%1(.B`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`@'!E;G-E('=A2!R96QA=&EN9R!E>&-L M=7-I=F5L>2!T;R!T:&4@9V5N97)A=&EO;B!O9B!A(&1E9F5R"!L M:6%B:6QI='D@87-S;V-I871E9"!W:71H('1H92!T87@@86UOF%T:6]N M(&]F(&=O;V1W:6QL+"!W:&EC:"!I6QE/3-$)T9/3E0Z M(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE#L@5$585"U)3D1%3E0Z(#`N-6EN.R!F;VYT+7-I>F4M861J=7-T M.B!N;VYE.R!F;VYT+7-TF4M861J=7-T.B!N;VYE M.R!F;VYT+7-T6QE/3-$)T9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE M#L@5$585"U)3D1%3E0Z(#`N-6EN M.R!F;VYT+7-I>F4M861J=7-T.B!N;VYE.R!F;VYT+7-TF4M861J=7-T.B!N;VYE.R!F;VYT+7-T6QE/3-$)T9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE M#L@5$585"U)3D1%3E0Z(#`N-6EN M.R!F;VYT+7-I>F4M861J=7-T.B!N;VYE.R!F;VYT+7-TF4M861J=7-T.B!N;VYE.R!F;VYT+7-T#L@5$585"U) M3D1%3E0Z(#`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`\6QE/3-$)T9/3E0Z(#$P M<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE#L@9F]N="US:7IE+6%D:G5S=#H@;F]N93L@9F]N="US=')E=&-H.B!N M;W)M86PG/B!792!D969I;F4@9F%I2`H86X@97AI="!P2!M87AI;6EZ97,@ M=&AE('5S92!O9B!O8G-EF5S('1H M92!U6QE/3-$)T9/3E0Z(#$P M<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE#L@5$585"U)3D1%3E0Z(#`N-6EN.R!F;VYT+7-I>F4M861J=7-T.B!N M;VYE.R!F;VYT+7-T6QE/3-$)U=)1%1(.B`Q,#`E.R!"3U)$15(M0T],3$%04T4Z(&-O;&QA M<'-E.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-EF4M861J=7-T.B!N;VYE.R!F;VYT+7-T6QE M/3-$)U9%4E1)0T%,+4%,24=..B!T;W`G/B`\=&0@6QE/3-$)T9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE#L@9F]N="US:7IE+6%D:G5S=#H@;F]N93L@9F]N M="US=')E=&-H.B!N;W)M86PG/B!,979E;"`R("T@3V)S97)V86)L92!I;G!U M=',@;W1H97(@=&AA;B!Q=6]T960@<')I8V5S(&EN8VQU9&5D(&EN($QE=F5L M(#$L('-U8V@@87,@<75O=&5D('!R:6-E#L@9F]N="US:7IE+6%D M:G5S=#H@;F]N93L@9F]N="US=')E=&-H.B!N;W)M86PG/B!A6QE/3-$)T9/3E0Z(#$P<'0@5&EM M97,@3F5W(%)O;6%N+"!4:6UE2!O8G-E#L@9F]N="US:7IE+6%D:G5S=#H@;F]N93L@9F]N="US=')E=&-H M.B!N;W)M86PG/B!,979E;"`S("T@56YO8G-E2!A;F0@=&AA="!A6QE/3-$ M)T9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE6QE/3-$)T9/3E0Z(#$P M<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE7-I2!A;F0@=&AE2!A2!B87-E9"!O;B!T:&4@:6YP=71S M('5S960@=&\@9&5T97)M:6YE('1H92!F86ER('9A;'5E(&%T('1H92!M96%S M=7)E;65N="!D871E(&EN('1H92!T86)L92!B96QO=RXF;F)S<#L@5V4@:&%V M92!N;R!N;VXM9FEN86YC:6%L(&%S#L@5$585"U)3D1%3E0Z(#`N-6EN.R!F;VYT+7-I>F4M861J=7-T.B!N;VYE M.R!F;VYT+7-TF4M861J=7-T.B!N;VYE.R!F;VYT M+7-T28C,SD[2!F M;W(@:71S(&9I;F%N8VEA;"!A6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@5$585"U!3$E'3CH@ MF4M861J=7-T.B!N;VYE.R!F;VYT+7-TF4M861J M=7-T.B!N;VYE.R!F;VYT+7-T6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@5$585"U!3$E'3CH@F4M861J=7-T.B!N;VYE.R!F;VYT+7-T6QE/3-$)U!!1$1)3D6QE/3-$)U!!1$1)3D6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K M(#%P="!S;VQI9#L@5$585"U!3$E'3CH@8V5N=&5R.R!&3TY4.B`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`Q M)3L@0D]21$52+4)/5%1/33H@8FQA8VL@,7!T('-O;&ED.R!415A4+4%,24=. M.B!L969T.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E MF4M861J=7-T.B!N;VYE.R!F;VYT+7-TF4M861J=7-T M.B!N;VYE.R!F;VYT+7-T6QE/3-$)U=)1%1(.B`Q)3L@0D]21$52+4)/5%1/ M33H@8FQA8VL@,7!T('-O;&ED.R!415A4+4%,24=..B!L969T.R!&3TY4.B`Q M,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-EF4M M861J=7-T.B!N;VYE.R!F;VYT+7-T6QE M/3-$)U=)1%1(.B`Q)3L@4$%$1$E.1RU"3U143TTZ(#%P=#L@5$585"U!3$E' M3CH@;&5F=#L@1D].5#H@,3!P="!4:6UEF4M861J=7-T.B!N;VYE.R!F;VYT M+7-T6QE/3-$)U=)1%1(.B`Q,"4[ M($)/4D1%4BU"3U143TTZ(&)L86-K(#%P="!S;VQI9#L@5$585"U!3$E'3CH@ M6QE/3-$)U=)1%1(.B`R)3L@4$%$1$E.1RU"3U143TTZ(#%P=#L@1D]. M5#H@,3!P="!4:6UEF4M861J=7-T.B!N M;VYE.R!F;VYT+7-T6QE/3-$ M)U9%4E1)0T%,+4%,24=..B!B;W1T;VT[($)!0TM'4D]53D0M0T],3U(Z(')G M8B@R,#0L,C4U+#(P-"DG/B`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`\=&0@ MF4M861J=7-T.B!N;VYE.R!F;VYT+7-T6QE/3-$)T9/ M3E0M4TE:13H@,3!P="<^)FYB6QE/3-$)T9/3E0M M4TE:13H@,3!P=#L@5$585"U!3$E'3CH@;&5F="<^)FYB6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@5$585"U!3$E'3CH@6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@5$585"U! M3$E'3CH@;&5F="<^)FYB6QE/3-$)T9/3E0M4TE: M13H@,3!P="<^)FYB6QE/3-$)T9/3E0M4TE:13H@ M,3!P=#L@5$585"U!3$E'3CH@;&5F="<^)FYB6QE M/3-$)T9/3E0M4TE:13H@,3!P=#L@5$585"U!3$E'3CH@F4M861J=7-T M.B!N;VYE.R!F;VYT+7-T6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT.R!&3TY4.B`Q,'!T(%1I;65S($YE M=R!2;VUA;BP@5&EM97,L(%-EF4M861J=7-T.B!N;VYE M.R!F;VYT+7-T6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT.R!&3TY4.B`Q,'!T(%1I M;65S($YE=R!2;VUA;BP@5&EM97,L(%-EF4M861J=7-T M.B!N;VYE.R!F;VYT+7-T6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT.R!&3TY4.B`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`\=&0@6QE/3-$)U!!1$1)3D6QE/3-$)T)/4D1%4BU"3U143TTZ M(&)L86-K(#%P="!S;VQI9#L@5$585"U!3$E'3CH@8V5N=&5R.R!&3TY4.B`Q M,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-EF4M M861J=7-T.B!N;VYE.R!F;VYT+7-TF4M861J=7-T.B!N;VYE.R!F;VYT+7-TF4M861J=7-T.B!N;VYE.R!F;VYT+7-T6QE/3-$)U!!1$1)3D6QE/3-$)U!!1$1)3D6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K M(#%P="!S;VQI9#L@5$585"U!3$E'3CH@8V5N=&5R.R!&3TY4.B`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`T-"4[(%!!1$1)3D6QE/3-$)U=)1%1(.B`R)3L@4$%$1$E. M1RU"3U143TTZ(#%P=#L@1D].5#H@,3!P="!4:6UEF4M861J=7-T.B!N;VYE.R!F;VYT+7-T6QE/3-$)U=)1%1(.B`R)3L@4$%$1$E.1RU"3U143TTZ(#%P=#L@ M1D].5#H@,3!P="!4:6UEF4M861J=7-T M.B!N;VYE.R!F;VYT+7-TF4M861J=7-T.B!N;VYE.R!F;VYT+7-T6QE/3-$ M)U=)1%1(.B`Q)3L@0D]21$52+4)/5%1/33H@8FQA8VL@,7!T('-O;&ED.R!4 M15A4+4%,24=..B!L969T.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@ M5&EM97,L(%-EF4M861J=7-T.B!N;VYE.R!F;VYT+7-T M6QE/3-$)U=)1%1(.B`Q)3L@4$%$1$E. M1RU"3U143TTZ(#%P=#L@5$585"U!3$E'3CH@;&5F=#L@1D].5#H@,3!P="!4 M:6UEF4M861J=7-T.B!N;VYE.R!F;VYT+7-T6QE/3-$)U=)1%1(.B`Q,"4[($)/4D1%4BU"3U143TTZ(&)L86-K M(#%P="!S;VQI9#L@5$585"U!3$E'3CH@6QE/3-$)U=)1%1(.B`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`^(#QT86)L92!S='EL93TS1"=-05)' M24XM0D]45$]-.B`P<'0[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4 M:6UE2!D:60@;F]T(&AA M=F4@86YY('1R86YS9F5R6QE/3-$ M)U1%6%0M04Q)1TXZ(&-E;G1EF4M M861J=7-T.B!N;VYE.R!F;VYT+7-T6QE/3-$)U=)1%1(.B`Q,#`E.R!"3U)$15(M0T],3$%0 M4T4Z(&-O;&QA<'-E.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM M97,L(%-EF4M861J=7-T.B!N;VYE.R!F;VYT+7-T6QE/3-$)U9%4E1)0T%,+4%,24=..B!B;W1T;VTG/B`\=&0@6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@5$585"U! M3$E'3CH@6QE/3-$)T9/3E0M4TE:13H@,3!P M="<^)FYB6QE/3-$)T9/3E0M4TE:13H@,3!P="<^ M)FYB6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@5$58 M5"U!3$E'3CH@8V5N=&5R)R!C;VQS<&%N/3-$,CX@*$=A:6YS*3PO=&0^(#QT M9"!S='EL93TS1"=&3TY4+5-)6D4Z(#$P<'0G/B9N8G-P.SPO=&0^(#QT9"!S M='EL93TS1"=&3TY4+5-)6D4Z(#$P<'0G/B9N8G-P.SPO=&0^(#QT9"!S='EL M93TS1"=&3TY4+5-)6D4Z(#$P<'0[(%1%6%0M04Q)1TXZ(&-E;G1E6QE/3-$)T9/3E0M4TE: M13H@,3!P="<^)FYB6QE/3-$)U9%4E1) M0T%,+4%,24=..B!B;W1T;VTG/B`\=&0@6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@4$%$1$E.1RU"3U143TTZ(#%P M="<^)FYB6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@ M4$%$1$E.1RU"3U143TTZ(#%P="<^)FYB6QE/3-$ M)T9/3E0M4TE:13H@,3!P=#L@0D]21$52+4)/5%1/33H@8FQA8VL@,7!T('-O M;&ED.R!415A4+4%,24=..B!C96YT97(G(&-O;'-P86X],T0R/C(P,30\+W1D M/B`\=&0@6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@ M5TE$5$@Z(#4X)3L@5$585"U!3$E'3CH@;&5F="<^($1E6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@5TE$ M5$@Z(#$E.R!415A4+4%,24=..B!L969T)SXD/"]T9#X@/'1D('-T>6QE/3-$ M)T9/3E0M4TE:13H@,3!P=#L@5TE$5$@Z(#$P)3L@5$585"U!3$E'3CH@6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@5TE$5$@Z M(#$E.R!415A4+4%,24=..B!L969T)SX@)FYB6QE/3-$)U=)1%1(.B`Q,#`E.R!"3U)$15(M0T],3$%04T4Z(&-O M;&QA<'-E.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E MF4M861J=7-T.B!N;VYE.R!F;VYT+7-T6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@5TE$5$@Z(#$E.R!415A4 M+4%,24=..B!C96YT97(G/B`F;F)S<#L\+W1D/B`\=&0@6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@5TE$5$@Z(#$P)3L@5$585"U! M3$E'3CH@8V5N=&5R)SX@56YR96%L:7IE9#PO=&0^(#QT9"!S='EL93TS1"=& M3TY4+5-)6D4Z(#$P<'0[(%=)1%1(.B`Q)3L@5$585"U!3$E'3CH@8V5N=&5R M)SX@)FYB6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@ M5TE$5$@Z(#(E.R!415A4+4%,24=..B!C96YT97(G/B`F;F)S<#L\+W1D/B`\ M=&0@6QE/3-$)T9/ M3E0M4TE:13H@,3!P=#L@5TE$5$@Z(#$E.R!415A4+4%,24=..B!C96YT97(G M/B`F;F)S<#L\+W1D/B`\+W1R/B`\='(^(#QT9"!S='EL93TS1"=&3TY4+5-) M6D4Z(#$P<'0[(%1%6%0M04Q)1TXZ(')I9VAT)SXF;F)S<#L\+W1D/B`\=&0@ M6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@5$585"U! M3$E'3CH@8V5N=&5R)SXF;F)S<#L\+W1D/B`\=&0@6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@ M5$585"U!3$E'3CH@8V5N=&5R)SXF;F)S<#L\+W1D/B`\=&0@6QE/3-$)T9/3E0M4TE:13H@ M,3!P=#L@5$585"U!3$E'3CH@8V5N=&5R)SY-87)C:"`S,2P\+W1D/B`\=&0@ M6QE/3-$)T9/3E0M4TE: M13H@,3!P=#L@0D]21$52+4)/5%1/33H@8FQA8VL@,7!T('-O;&ED.R!0041$ M24Y'+4)/5%1/33H@,7!T)SX@1&5S8W)I<'1I;VX\+W1D/B`\=&0@6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@0D]21$52+4)/5%1/ M33H@8FQA8VL@,7!T('-O;&ED.R!415A4+4%,24=..B!C96YT97(G/B`R,#$S M/"]T9#X@/'1D('-T>6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@4$%$1$E.1RU" M3U143TTZ(#%P=#L@5$585"U!3$E'3CH@8V5N=&5R)SX@)FYB6QE/3-$)U9%4E1)0T%,+4%,24=..B!B;W1T;VT[($)! M0TM'4D]53D0M0T],3U(Z(')G8B@R,#0L,C4U+#(P-"DG/B`\=&0@6QE/3-$)T9/3E0M4TE:13H@,3!P M=#L@5$585"U!3$E'3CH@6QE/3-$)T9/3E0M M4TE:13H@,3!P=#L@5$585"U!3$E'3CH@;&5F="<^)FYBF4M861J=7-T.B!N;VYE.R!F;VYT+7-TF4M861J M=7-T.B!N;VYE.R!F;VYT+7-T'!E8W1E9"!T97)M+"!A;G1I8VEP M871E9"!V;VQA=&EL:71Y(&%N9"!E>'!E8W1E9"!D:79I9&5N9',@9V5N97)A M;&QY(')E2!R97-U;'0@:6X@9&5C#L@9F]N="US:7IE+6%D:G5S=#H@;F]N M93L@9F]N="US=')E=&-H.B!N;W)M86PG/B`F;F)S<#L\+W`^(#QP('-T>6QE M/3-$)T9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE#L@9F]N="US:7IE+6%D:G5S=#H@;F]N93L@9F]N M="US=')E=&-H.B!N;W)M86PG/B`\96T^07-S971S($UE87-U2!O9B!3:6=N:69I8V%N=#PO96T^ M(#QE;3Y!8V-O=6YT:6YG(%!O;&EC97,\+V5M/BDN($%S(&]F($UA2!H860@;F\@;W1H97(@87-S971S(&]R(&QI M86)I;&ET:65S('1H870@=V5R92!M96%S=7)E9"!A="!F86ER('9A;'5E(&]N M(&$@;F]NF4M861J=7-T.B!N;VYE.R!F;VYT+7-T7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\ M:'1M;#X-"B`@/&AE860^#0H@("`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`Q,2P@=&AE($-O=7)T(&ES6QE/3-$)T9/ M3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE#L@9F]N="US:7IE+6%D:G5S=#H@;F]N93L@9F]N="US=')E M=&-H.B!N;W)M86PG/B!);B!-87D@,C`Q,RP@=&AE($1E;&%W87)E(%-U<')E M;64@0V]U28C,SD[28C M,SD['!E'!E M8W0@=&AE(&-O=7)T('1O(&ES2!W:6QL(')E+6EN2!O2!F;W(@=7,L('1H870@4TE'02!W:6QL(&YO="!A M<'!E86P@86YY('-U8G-E<75E;G0@9&5C:7-I;VX@8GD@=&AE($1E;&%W87)E M($-O=7)T(&]F($-H86YC97)Y+"!O2!R97-U;'0@9G)O M;2!A=61I=',@87)E(&YO="!E>'!E8W1E9"!T;R!H879E(&$@;6%T97)I86P@ M969F96-T(&]N(&]U6QE/3-$)T9/ M3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE#L@9F]N="US:7IE+6%D:G5S=#H@;F]N93L@9F]N="US=')E M=&-H.B!N;W)M86PG/B`F;F)S<#L\+W`^(#QP('-T>6QE/3-$)T9/3E0Z(#$P M<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE#L@9F]N="US:7IE+6%D:G5S=#H@;F]N93L@9F]N="US=')E=&-H.B!N M;W)M86PG/B`\96T^4F5G:7-T6QE/3-$)T9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N M+"!4:6UE#L@5$585"U)3D1%3E0Z M(#`N-6EN.R!F;VYT+7-I>F4M861J=7-T.B!N;VYE.R!F;VYT+7-TF4M861J=7-T.B!N;VYE.R!F;VYT+7-T&-H86YG M92!#;VUM:7-S:6]N('1O(')E9VES=&5R('1H92!S:&%R97,@=6YD97)L>6EN M9R!T:&4@8V]N=F5R=&EB;&4@;F]T97,@86YD(')E;&%T960@=V%R6EN9R!T:&4@8V]N=F5R M=&EB;&4@;F]T97,@86YD(')E;&%T960@=V%R'1I;F=U:7-H960@:6X@,C`Q,"P@86QT:&]U9V@@=&AE(')E;&%T960@=V%R M'!I2`R."P@,C`Q-2X\+W`^(#QP('-T>6QE/3-$)T9/ M3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE#L@5$585"U)3D1%3E0Z(#`N-6EN.R!F;VYT+7-I>F4M861J M=7-T.B!N;VYE.R!F;VYT+7-TF4M861J=7-T.B!N M;VYE.R!F;VYT+7-T2!H879E('-E<&%R871E(&]B;&EG871I;VYS('1O M(&9I;&4@6QE/3-$)T9/3E0Z(#$P<'0@ M5&EM97,@3F5W(%)O;6%N+"!4:6UE#L@9F]N="US:7IE+6%D:G5S=#H@;F]N93L@9F]N="US=')E=&-H.B!N;W)M M86PG/B!5;F1E'1I;F=U:7-H960@:6X@,C`Q M,"P@:68@869T97(@=&AE(#)N9"!C;VYS96-U=&EV92!B=7-I;F5S2!T;R!E86-H('-E;&QI;F<@2!O9B!A($UA:6YT96YA;F-E($9A:6QU6QE/3-$)T9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE M#L@5$585"U)3D1%3E0Z(#`N-6EN M.R!F;VYT+7-I>F4M861J=7-T.B!N;VYE.R!F;VYT+7-TF4M861J=7-T.B!N;VYE.R!F;VYT+7-T6UE;G1S(&]F(#$N,"4@;V8@=&AE(&%G9W)E9V%T92!P M2!O9B!A($UA:6YT96YA;F-E($9A:6QU M&EM=6T@;V)L:6=A=&EO;B!U;F1E6UE;G0L('=O=6QD(&)E(&%P<')O>&EM M871E;'D@)#`N,B!M:6QL:6]N(&9OF4M861J=7-T.B!N;VYE M.R!F;VYT+7-T7!E.B!T97AT+VAT;6P[(&-H87)S970] M(G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@:'1T M<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@ M8VAA3QB&AT;6PQ+T141"]X:'1M;#$M=')A;G-I=&EO;F%L M+F1T9"(@+2T^/&1I=CX@/&1I=CX\(2TM4W1A65E&EM=6T@;G5M M8F5R(&]F('-H87)EF5D(&9O65A&EM871E;'D@,BXU(&UI;&QI M;VX@6QE/3-$)T9/ M3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE"<^($%T($UA6QE/3-$)U=)1%1(.B`Q,#`E.R!" M3U)$15(M0T],3$%04T4Z(&-O;&QA<'-E.R!&3TY4.B`Q,'!T(%1I;65S($YE M=R!2;VUA;BP@5&EM97,L(%-E6EN9R!787)R86YT6QE M/3-$)T9/3E0M4TE:13H@,3!P=#L@4$%$1$E.1RU"3U143TTZ(#%P="<^)FYB M6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@5$585"U! M3$E'3CH@8V5N=&5R)SXF;F)S<#L\+W1D/B`\=&0@6QE M/3-$)U9%4E1)0T%,+4%,24=..B!M:61D;&4[($)/4D1%4BU"3U143TTZ(&)L M86-K(#%P="!S;VQI9#L@5$585"U!3$E'3CH@8V5N=&5R.R!&3TY4.B`Q,'!T M(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E&5R8VES92!06QE/3-$)U9%4E1)0T%,+4%,24=..B!M M:61D;&4[($)/4D1%4BU"3U143TTZ(&)L86-K(#%P="!S;VQI9#L@5$585"U! M3$E'3CH@8V5N=&5R.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM M97,L(%-E6QE/3-$)U9%4E1)0T%,+4%,24=..B!B;W1T;VT[($)!0TM'4D]53D0M0T], M3U(Z(')G8B@R,#0L,C4U+#(P-"DG/B`\=&0@6QE/3-$)U=) M1%1(.B`R,R4[(%1%6%0M04Q)1TXZ(')I9VAT.R!&3TY4.B`Q,'!T(%1I;65S M($YE=R!2;VUA;BP@5&EM97,L(%-E6QE M/3-$)U=)1%1(.B`Q,"4[(%1%6%0M04Q)1TXZ(&-E;G1E6QE/3-$)U=)1%1(.B`R)3L@ M1D].5#H@,3!P="!4:6UE6QE/3-$)U9%4E1)0T%, M+4%,24=..B!B;W1T;VT[($)!0TM'4D]53D0M0T],3U(Z('=H:71E)SX@/'1D M('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[($9/3E0Z(#$P<'0@5&EM97,@ M3F5W(%)O;6%N+"!4:6UE6QE M/3-$)U1%6%0M04Q)1TXZ(&QE9G0[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O M;6%N+"!4:6UE6QE/3-$)U1%6%0M04Q)1TXZ(&-E;G1E6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[($9/3E0Z(#$P M<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE6QE/3-$)U1%6%0M04Q) M1TXZ(')I9VAT.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L M(%-E6QE/3-$)U9% M4E1)0T%,+4%,24=..B!B;W1T;VT[($)!0TM'4D]53D0M0T],3U(Z(')G8B@R M,#0L,C4U+#(P-"DG/B`\=&0@6QE/3-$)T9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N M+"!4:6UE6QE/3-$)U1%6%0M04Q)1TXZ M(')I9VAT.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E M6QE/3-$)U1%6%0M04Q) M1TXZ(&QE9G0[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT.R!&3TY4.B`Q,'!T(%1I;65S M($YE=R!2;VUA;BP@5&EM97,L(%-E6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT M.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E6QE/3-$)T9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O M;6%N+"!4:6UE6QE/3-$)U1%6%0M04Q) M1TXZ(')I9VAT.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L M(%-E6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[($9/3E0Z(#$P<'0@5&EM97,@ M3F5W(%)O;6%N+"!4:6UE6QE/3-$ M)U1%6%0M04Q)1TXZ(')I9VAT.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA M;BP@5&EM97,L(%-E6QE/3-$)T9/3E0Z(#$P M<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE6QE/3-$)U1% M6%0M04Q)1TXZ(')I9VAT.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@ M5&EM97,L(%-E6QE/3-$)U1% M6%0M04Q)1TXZ(&QE9G0[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4 M:6UE6QE/3-$)U1%6%0M04Q)1TXZ(&-E;G1E2`R,#$P/"]T9#X@/'1D('-T>6QE M/3-$)T9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE2`R,#$W/"]T9#X@/"]T6QE/3-$)U9%4E1)0T%,+4%, M24=..B!B;W1T;VT[($)!0TM'4D]53D0M0T],3U(Z('=H:71E)SX@/'1D('-T M>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[($9/3E0Z(#$P<'0@5&EM97,@3F5W M(%)O;6%N+"!4:6UE6QE/3-$ M)U1%6%0M04Q)1TXZ(&QE9G0[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N M+"!4:6UE6QE/3-$)U1%6%0M04Q)1TXZ(&-E;G1E6QE/3-$)T9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE6QE/3-$)U9%4E1)0T%,+4%, M24=..B!B;W1T;VT[($)!0TM'4D]53D0M0T],3U(Z(')G8B@R,#0L,C4U+#(P M-"DG/B`\=&0@6QE/3-$ M)T)/4D1%4BU"3U143TTZ(&)L86-K(#%P="!S;VQI9#L@5$585"U!3$E'3CH@ M6QE/3-$ M)U!!1$1)3D6QE/3-$)U!!1$1)3D6QE/3-$)U!!1$1)3D6QE/3-$)T)/4D1%4BU" M3U143TTZ(&)L86-K(#(N-7!T(&1O=6)L93L@5$585"U!3$E'3CH@6QE/3-$ M)T9/3E0M4TE:13H@,3!P=#L@4$%$1$E.1RU"3U143TTZ(#(N-7!T)SXF;F)S M<#L\+W1D/B`\=&0@6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@5$585"U!3$E'3CH@;&5F="<^ M)FYB6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@5$58 M5"U!3$E'3CH@6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@4$%$1$E.1RU"3U143TTZ(#(N M-7!T.R!0041$24Y'+4Q%1E0Z(#4N-'!T)SX@)FYB6QE/3-$)U9%4E1)0T%,+4%,24=. M.B!T;W`G/B`\=&0@6QE/3-$)T9/3E0Z(#$P<'0@ M5&EM97,@3F5W(%)O;6%N+"!4:6UE6QE/3-$)T9/3E0Z(#$P M<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE#L@5$585"U)3D1%3E0Z(#`N-6EN)SX@)FYB6QE/3-$)U=)1%1(.B`S M)3L@4$%$1$E.1RU224=(5#H@,"XX<'0G/B9N8G-P.SPO=&0^(#QT9"!S='EL M93TS1"=&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E6QE/3-$)T9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE M2!R97!O6QE/3-$)T9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O M;6%N+"!4:6UE#L@5$585"U)3D1% M3E0Z(#`N-6EN)SX@)FYB3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT M4&%R=%\S83,P,39D-E]B8C@X7S0Y-C!?.#@R,5\X,V,W-F9B86$T-&(-"D-O M;G1E;G0M3&]C871I;VXZ(&9I;&4Z+R\O0SHO,V$S,#$V9#9?8F(X.%\T.38P M7S@X,C%?.#-C-S9F8F%A-#1B+U=O'0O:'1M;#L@8VAA7!E(&-O;G1E;G0],T0G=&5X="]H=&UL.R!C:&%R6QE/3-$ M)T9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE#L@9F]N="US:7IE+6%D:G5S=#H@;F]N93L@9F]N="US M=')E=&-H.B!N;W)M86PG/B`\6QE/3-$)T9/3E0Z(#$P M<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE#L@5$585"U)3D1%3E0Z(#`N-6EN.R!F;VYT+7-I>F4M861J=7-T.B!N M;VYE.R!F;VYT+7-TF4M861J=7-T.B!N;VYE.R!F M;VYT+7-T2!/ M9F9E6QE/3-$)T9/ M3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE#L@9F]N="US:7IE+6%D:G5S=#H@;F]N93L@9F]N="US=')E M=&-H.B!N;W)M86PG/B!/;B!-87)C:"`R-2P@,C`Q,RP@=V4@96YT97)E9"!I M;G1O(&$@8V]N=')O;&QE9"!E<75I='D@;V9F97)I;F<@87)R86YG96UE;G0@ M=VET:"!A('-A;&5S(&%G96YT('!U2!O M9F9E2!M971H;V0@<&5R;6ET=&5D(&)Y(&QA=R!A;F0@9&5E M;65D('1O(&)E(&%N(")A="UT:&4M;6%R:V5T(B!O9F9E2!O;B!.65-%($U+5"P@;W(@86YY(&]T:&5R(&5X:7-T M:6YG('1R861I;F<@;6%R:V5T(&9O6QE/3-$)T9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE M#L@5$585"U)3D1%3E0Z(#`N-6EN M.R!F;VYT+7-I>F4M861J=7-T.B!N;VYE.R!F;VYT+7-TF4M861J=7-T.B!N;VYE.R!F;VYT+7-T2`D,BXU(&UI;&QI;VXN($%S(&]F($UA&EM871E;'D@)#8N,"!M:6QL:6]N(')E;6%I M;F5D(&%V86EL86)L92!U;F1EF4M861J=7-T.B!N;VYE.R!F;VYT+7-TF4M861J=7-T.B!N;VYE.R!F;VYT+7-TF4M861J M=7-T.B!N;VYE.R!F;VYT+7-TF4M861J=7-T.B!N M;VYE.R!F;VYT+7-T6QE/3-$)T9/3E0Z(#$P<'0@5&EM97,@3F5W M(%)O;6%N+"!4:6UE#L@9F]N="US M:7IE+6%D:G5S=#H@;F]N93L@9F]N="US=')E=&-H.B!N;W)M86PG/B!5;F1E M2`D,"XY(&UI;&QI;VXL(&]F('=H:6-H(&YO;F4@=V%S(&1R M87=N(&%N9"!O=71S=&%N9&EN9RXF;F)S<#L\+W`^(#QP('-T>6QE/3-$)T9/ M3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE#L@9F]N="US:7IE+6%D:G5S=#H@;F]N93L@9F]N="US=')E M=&-H.B!N;W)M86PG/B`F;F)S<#LF;F)S<#L\+W`^(#QP('-T>6QE/3-$)T9/ M3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE#L@9F]N="US:7IE+6%D:G5S=#H@;F]N93L@9F]N="US=')E M=&-H.B!N;W)M86PG/B!4:&4@9FEX960@:6YT97)E'1E;F1E9"!T;R`Q,B!M;VYT:',@<'5R6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#%P M="!S;VQI9#L@5$585"U!3$E'3CH@8V5N=&5R.R!&3TY4.B`Q,'!T(%1I;65S M($YE=R!2;VUA;BP@5&EM97,L(%-EF4M861J=7-T.B!N M;VYE.R!F;VYT+7-TF4M861J=7-T.B!N;VYE.R!F;VYT+7-T6QE/3-$)U=)1%1( M.B`Q)3L@5$585"U!3$E'3CH@;&5F=#L@1D].5#H@,3!P="!4:6UEF4M861J=7-T.B!N;VYE.R!F;VYT+7-TF4M861J=7-T.B!N;VYE M.R!F;VYT+7-TF4M M861J=7-T.B!N;VYE.R!F;VYT+7-T#L@9F]N="US:7IE+6%D:G5S=#H@;F]N93L@ M9F]N="US=')E=&-H.B!N;W)M86PG/B!4:&4@=&5R;2!L;V%N+"!N970@;V8@ M9&ES8V]U;G0@;V8@)#$T+#8R,"P@:7,@F4M M861J=7-T.B!N;VYE.R!F;VYT+7-T6QE/3-$)U=)1%1(.B`V,"4[($)/4D1%4BU#3TQ,05!3 M13H@8V]L;&%PF4M861J=7-T.B!N;VYE.R!F;VYT+7-T6QE/3-$)U=)1%1(.B`T M)3L@5$585"U!3$E'3CH@;&5F=#L@1D].5#H@,3!P="!4:6UE6QE/3-$)U=)1%1( M.B`Q-24[(%1%6%0M04Q)1TXZ(')I9VAT.R!&3TY4.B`Q,'!T(%1I;65S($YE M=R!2;VUA;BP@5&EM97,L(%-EF4M861J=7-T.B!N;VYE M.R!F;VYT+7-TF4M861J M=7-T.B!N;VYE.R!F;VYT+7-TF4M861J=7-T M.B!N;VYE.R!F;VYT+7-TF4M861J=7-T.B!N;VYE.R!F;VYT+7-T M6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K M(#%P="!S;VQI9#L@5$585"U!3$E'3CH@F4M861J=7-T.B!N;VYE.R!F;VYT+7-T6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@4$%$1$E.1RU" M3U143TTZ(#(N-7!T)SXF;F)S<#L\+W1D/B`\=&0@F4M861J=7-T.B!N;VYE.R!F;VYT+7-T M'!E;G-E9"!O=F5R('1H M92!T97)M(&]F('1H92!A9W)E96UE;G0L('5S:6YG('1H92!E9F9E8W1I=F4@ M:6YT97)E#L@5$585"U)3D1%3E0Z(#`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`Q+C`@5')A;G-I=&EO;F%L+R]%3B(@(FAT='`Z+R]W=W&AT;6PQ+71R86YS:71I;VYA;"YD=&0B("TM/CQD M:78^(#QD:78^/"$M+5-T87)T1G)A9VUE;G0M+3X@/'`@F4M861J=7-T.B!N;VYE.R!F;VYT+7-T6QE/3-$)T9/3E0Z(#$P<'0@5&EM97,@ M3F5W(%)O;6%N+"!4:6UE#L@5$58 M5"U)3D1%3E0Z(#`N-6EN.R!F;VYT+7-I>F4M861J=7-T.B!N;VYE.R!F;VYT M+7-T6QE/3-$)T9/3E0M1D%-24Q9.B!4:6UE"!V86-C:6YE(&-O;G1R86-T M('1H2!PFEN9R!0:&%R;4%T:&5N92!T;R!C;VUP;&5T92!S:7@@86-T:79I M=&EEF4M861J=7-T.B!N;VYE.R!F;VYT+7-TF4M861J=7-T.B!N;VYE.R!F;VYT+7-TF4M861J=7-T.B!N;VYE.R!F;VYT+7-T&EM871E;'D@)#0N M."!M:6QL:6]N(')E;6%I;B!A=F%I;&%B;&4@=6YD97(@=&AE(&%R7!E.B!T M97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@/&AE M860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C;VYT M96YT/3-$)W1E>'0O:'1M;#L@8VAA6QE/3-$)T9/3E0Z(#$P M<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE#L@9F]N="US:7IE+6%D:G5S=#H@;F]N93L@9F]N="US=')E=&-H.B!N M;W)M86PG/B`\96T^0F%S:7,@;V8@4')E6QE/3-$)T9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE#L@5$585"U)3D1%3E0Z(#`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`Q+C`@5')A;G-I=&EO M;F%L+R]%3B(@(FAT='`Z+R]W=W&AT M;6PQ+71R86YS:71I;VYA;"YD=&0B("TM/CQD:78^(#QD:78^/"$M+5-T87)T M1G)A9VUE;G0M+3X@/'`@2!O9B!O=7(@=VAO M;&QY(&]W;F5D(&9O'!E;G-E(&ET96US(&%R92!T2X@1F]R96EG;B!C=7)R96YC>2!T'0^)SPA+2U$3T-465!%(&AT M;6P@4%5"3$E#("(M+R]7,T,O+T141"!82%1-3"`Q+C`@5')A;G-I=&EO;F%L M+R]%3B(@(FAT='`Z+R]W=W&AT;6PQ M+71R86YS:71I;VYA;"YD=&0B("TM/CQD:78^(#QD:78^/"$M+5-T87)T1G)A M9VUE;G0M+3X@/'`@F4M M861J=7-T.B!N;VYE.R!F;VYT+7-T6QE/3-$)T9/ M3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE#L@5$585"U)3D1%3E0Z(#`N-6EN.R!F;VYT+7-I>F4M861J M=7-T.B!N;VYE.R!F;VYT+7-TF4M861J=7-T.B!N M;VYE.R!F;VYT+7-T6QE/3-$)T9/3E0Z(#$P<'0@ M5&EM97,@3F5W(%)O;6%N+"!4:6UE#L@5$585"U)3D1%3E0Z(#`N-6EN.R!F;VYT+7-I>F4M861J=7-T.B!N;VYE M.R!F;VYT+7-T6QE/3-$)T9/3E0Z M(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE#L@9F]N="US:7IE+6%D:G5S=#H@;F]N93L@9F]N="US=')E=&-H M.B!N;W)M86PG/B`\96T^4F5V;VQV:6YG($QI;F4@;V8@0W)E9&ET(&%N9"!4 M97)M($QO86X\+V5M/CPO<#X@/'`@F4M861J=7-T.B!N;VYE.R!F;VYT+7-TF4M861J=7-T.B!N;VYE.R!F;VYT+7-T'!IF4M861J=7-T.B!N;VYE.R!F;VYT+7-T&AT M;6PQ+T141"]X:'1M;#$M=')A;G-I=&EO;F%L+F1T9"(@+2T^/&1I=CX@/&1I M=CX\(2TM4W1A6QE/3-$)T9/3E0Z(#$P<'0@5&EM M97,@3F5W(%)O;6%N+"!4:6UE#L@ M5$585"U)3D1%3E0Z(#`N-6EN)SX@)FYB6QE/3-$)T9/3E0Z(#$P<'0@5&EM M97,@3F5W(%)O;6%N+"!4:6UE#L@ M5$585"U)3D1%3E0Z(#`N-6EN)SX@)FYB'0^)SPA+2U$3T-465!%(&AT;6P@4%5"3$E#("(M+R]7 M,T,O+T141"!82%1-3"`Q+C`@5')A;G-I=&EO;F%L+R]%3B(@(FAT='`Z+R]W M=W&AT;6PQ+71R86YS:71I;VYA;"YD M=&0B("TM/CQD:78^(#QD:78^/"$M+5-T87)T1G)A9VUE;G0M+3X@/'`@6QE/3-$)T9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE#L@5$585"U)3D1%3E0Z(#`N-6EN)SX@ M/&5M/B9N8G-P.SPO96T^/"]P/B`\<"!S='EL93TS1"=&3TY4.B`Q,'!T(%1I M;65S($YE=R!2;VUA;BP@5&EM97,L(%-E&-E&-E6QE/3-$)T9/3E0Z(#$P M<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE"<^(#QE;3Y&:6YA;F-I86P@26YS=')U;65N=',\+V5M/CPO<#X@/'`@ M6QE/3-$)T9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O M;6%N+"!4:6UE"<^($]U6QE/3-$)T9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4 M:6UE"<^("9N8G-P.SPO<#X@/"$M M+45N9$9R86=M96YT+2T^/"]D:78^(#PO9&EV/CQS<&%N/CPO'0^)SPA+2U$3T-4 M65!%(&AT;6P@4%5"3$E#("(M+R]7,T,O+T141"!82%1-3"`Q+C`@5')A;G-I M=&EO;F%L+R]%3B(@(FAT='`Z+R]W=W&AT;6PQ+71R86YS:71I;VYA;"YD=&0B("TM/CQD:78^(#QD:78^/"$M+5-T M87)T1G)A9VUE;G0M+3X@/'`@2!R969EF5D(&%S(')E=F5N M=64@=VAE;CH@*&DI('1H92!M:6QE6QE M/3-$)T9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE"<^($UI;&5S=&]N97,@87)E(&-O;G-I9&5R960@ M6QE/3-$)U=)1%1(.B`R)2<^)FYB6QE/3-$)T9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N M+"!4:6UE6QE/3-$)U=)1%1(.B`R)2<^)FYB6QE M/3-$)T9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE6QE/3-$)U=) M1%1(.B`R)2<^)FYB6QE/3-$)T9/3E0Z(#$P<'0@ M5&EM97,@3F5W(%)O;6%N+"!4:6UE"<^($EF(&$@;6EL M97-T;VYE(&ES(&1E96UE9"!N;W0@=&\@8F4@2!P97)F;W)M960@=7-I;F<@=&AE('!R;W!O6UE;G0@:7,@9&5F97)R960@86YD(')E8V]G;FEZ960@ M87,@2!C;VUP;&5T97,@:71S('!E2!R96QA=&5D('1O('1H92!C;W-T M"<^($%S(&$@2!D:69F97(@ M9G)O;2!T:&4@=&EM:6YG(&]F(')E8V]G;FEZ:6YG(')E=F5N=64N($%M;W5N M=',@:6YV;VEC960@=&\@8W5S=&]M97)S(&EN(&5X8V5S&-E6QE/3-$)T9/ M3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE"<^("9N8G-P.SPO<#X@/'`@2!A'0^)SPA+2U$3T-4 M65!%(&AT;6P@4%5"3$E#("(M+R]7,T,O+T141"!82%1-3"`Q+C`@5')A;G-I M=&EO;F%L+R]%3B(@(FAT='`Z+R]W=W&AT;6PQ+71R86YS:71I;VYA;"YD=&0B("TM/CQD:78^(#QD:78^/"$M+5-T M87)T1G)A9VUE;G0M+3X@/'`@F4M861J=7-T.B!N;VYE.R!F;VYT+7-T'!E8W1E M9"!V;VQA=&EL:71Y(&]F(&]U65E)B,S.3MS(')E<75I6QE/3-$)T9/3E0Z(#$P<'0@5&EM97,@ M3F5W(%)O;6%N+"!4:6UE#L@5$58 M5"U)3D1%3E0Z(#`N-6EN.R!F;VYT+7-I>F4M861J=7-T.B!N;VYE.R!F;VYT M+7-TF4M861J=7-T.B!N;VYE.R!F;VYT+7-T'!E;G-E(')A=&%B;'D@;W9E2`Q,B4L(&)A3L@1D].5#H@,3!P="!4:6UE6QE/3-$ M)T9/3E0M4TE:13H@,3!P="<^)FYB6QE/3-$)U!! M1$1)3DF4M861J=7-T.B!N;VYE.R!F;VYT+7-T6QE/3-$)T9/3E0M4TE:13H@,3!P M="<^)FYB6QE/3-$)U!!1$1)3DF4M861J=7-T.B!N;VYE.R!F;VYT+7-T6QE/3-$)T)/ M4D1%4BU"3U143TTZ(&)L86-K(#%P="!S;VQI9#L@5$585"U!3$E'3CH@8V5N M=&5R.R!&3TY4.B!B;VQD(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE6QE/3-$)U!! M1$1)3D6QE/3-$)U=)1%1( M.B`W,B4[(%1%6%0M04Q)1TXZ(&QE9G0[($9/3E0Z(#$P<'0@5&EM97,@3F5W M(%)O;6%N+"!4:6UE6QE/3-$)U=)1%1(.B`R)3L@1D].5#H@,3!P="!4 M:6UEF4M861J=7-T.B!N;VYE.R!F;VYT+7-T6QE/3-$)U=)1%1(.B`R)3L@ M1D].5#H@,3!P="!4:6UEF4M861J=7-T.B!N;VYE.R!F;VYT+7-T6QE/3-$)U=)1%1(.B`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`@6QE/3-$)T9/3E0Z(#$P M<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE"<^(%=E(&%C8V]U;G0@9F]R(&EN8V]M92!T87AE2!A<'!R;V%C:"P@=VAI8V@@2!D:69F97)E;F-E2!T;R!R961U8V4@9&5F M97)R960@=&%X(&%S'!E8W1E9"!T;R!B M92!R96%L:7IE9"X@5V4@86QS;R!R96-O9VYI>F4@82!T87@@8F5N969I="!F M2!IF4@:6YT97)E"!E>'!E;G-E('=A2!R96QA=&EN M9R!E>&-L=7-I=F5L>2!T;R!T:&4@9V5N97)A=&EO;B!O9B!A(&1E9F5R"!L:6%B:6QI='D@87-S;V-I871E9"!W:71H('1H92!T87@@86UOF%T:6]N(&]F(&=O;V1W:6QL+"!W:&EC:"!I6QE/3-$ M)T9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE#L@5$585"U)3D1%3E0Z(#`N-6EN)SX@)FYB6QE M/3-$)T9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE"<^(#QE;3Y"87-I8R!A;F0@1&EL=71E9"!.970@ M3&]S6QE M/3-$)T9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE"<^(#QE;3Y);F-O;64@*&QO2!T:&4@=V5I9VAT960@879E2!A<'!L>6EN9R!T:&4@=')E M87-U6QE/3-$)T9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4 M:6UE"<^($9O2`Q,BXV(&UI;&QI;VX@86YD(#$Q M+C8@;6EL;&EO;B!P;W1E;G1I86P@9&EL=71I=F4@2P@8F5C875S M92!T:&5I&AT;6PQ+T141"]X:'1M;#$M=')A;G-I=&EO;F%L+F1T9"(@+2T^ M/&1I=CX@/&1I=CX\(2TM4W1A6QE/3-$)T9/3E0Z M(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE"<^(%=E(&AA=F4@979A;'5A=&5D(&%L;"!!8V-O=6YT:6YG(%-T M86YD87)D6QE/3-$)T9/3E0Z(#$P<'0@5&EM97,@3F5W M(%)O;6%N+"!4:6UE"<^("9N8G-P M.SPO<#X@/"$M+45N9$9R86=M96YT+2T^/"]D:78^(#PO9&EV/CQS<&%N/CPO M7!E.B!T97AT M+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@/&AE860^ M#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C;VYT96YT M/3-$)W1E>'0O:'1M;#L@8VAA'0^)SQS<&%N/CPO6QE/3-$)T9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE"<^(%-H87)E+6)A'!E;G-E(&9O6QE/3-$)U1%6%0M M04Q)1TXZ(&IU#L@5$585"U)3D1%3E0Z(#`N M-6EN)SX@)FYB6QE/3-$)U9%4E1) M0T%,+4%,24=..B!B;W1T;VTG/B`\=&0@6QE/3-$)T)/4D1%4BU"3U14 M3TTZ(&)L86-K(#%P="!S;VQI9#L@5$585"U!3$E'3CH@8V5N=&5R.R!&3TY4 M.B!B;VQD(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE6QE/3-$)U9%4E1)0T%,+4%,24=..B!B;W1T;VTG M/B`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`\=&0@6QE/3-$)U=)1%1(.B`R)3L@1D].5#H@,3!P="!4:6UE6QE/3-$)U=) M1%1(.B`Q,"4[(%1%6%0M04Q)1TXZ(')I9VAT.R!&3TY4.B`Q,'!T(%1I;65S M($YE=R!2;VUA;BP@5&EM97,L(%-E6QE/3-$)U=)1%1(.B`Q)3L@5$585"U!3$E'3CH@;&5F=#L@1D].5#H@,3!P M="!4:6UE6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#%P="!S;VQI9#L@ M5$585"U!3$E'3CH@;&5F=#L@1D].5#H@,3!P="!4:6UE6QE M/3-$)U9%4E1)0T%,+4%,24=..B!B;W1T;VT[($)!0TM'4D]53D0M0T],3U(Z M(')G8B@R,#0L,C4U+#(P-"DG/B`\=&0@6QE/3-$)T)/4D1% M4BU"3U143TTZ(&)L86-K(#(N-7!T(&1O=6)L93L@5$585"U!3$E'3CH@;&5F M=#L@1D].5#H@,3!P="!4:6UE6QE/3-$)U!!1$1)3D6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#(N-7!T(&1O=6)L93L@ M5$585"U!3$E'3CH@6QE/3-$)U!! M1$1)3D6QE/3-$)U1%6%0M04Q)1TXZ(&IU M"<^("9N8G-P.SPO<#X@/'`@'0O M:F%V87-C3X-"B`@("`\ M=&%B;&4@8VQA6QE/3-$)T9/3E0Z(#$P<'0@5&EM97,@3F5W M(%)O;6%N+"!4:6UE#L@5$585"U) M3D1%3E0Z(#`N-6EN.R!F;VYT+7-I>F4M861J=7-T.B!N;VYE.R!F;VYT+7-T MF4M861J=7-T.B!N;VYE.R!F;VYT+7-T28C,SD[2!F;W(@:71S(&9I M;F%N8VEA;"!A6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@5$585"U!3$E'3CH@F4M861J=7-T.B!N;VYE.R!F;VYT+7-TF4M861J=7-T.B!N;VYE M.R!F;VYT+7-T6QE M/3-$)T9/3E0M4TE:13H@,3!P=#L@5$585"U!3$E'3CH@F4M861J=7-T.B!N;VYE.R!F;VYT+7-T6QE/3-$)U!!1$1)3D6QE/3-$)U!!1$1)3D6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#%P="!S;VQI M9#L@5$585"U!3$E'3CH@8V5N=&5R.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2 M;VUA;BP@5&EM97,L(%-EF4M861J=7-T.B!N;VYE.R!F M;VYT+7-TF4M861J M=7-T.B!N;VYE.R!F;VYT+7-TF4M861J M=7-T.B!N;VYE.R!F;VYT+7-T6QE/3-$)T9/3E0M4TE:13H@,3!P M="<^)FYB6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@ M5$585"U!3$E'3CH@;&5F="<^)FYB6QE/3-$)T9/ M3E0M4TE:13H@,3!P=#L@5$585"U!3$E'3CH@6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@5$585"U!3$E'3CH@;&5F="<^ M)FYB6QE/3-$)T9/3E0M4TE:13H@,3!P="<^)FYB M6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@5$585"U! M3$E'3CH@;&5F="<^)FYB6QE/3-$)T9/3E0M4TE: M13H@,3!P=#L@5$585"U!3$E'3CH@F4M861J=7-T.B!N;VYE.R!F;VYT+7-T6QE/3-$)U=)1%1(.B`Q)3L@0D]21$52 M+4)/5%1/33H@8FQA8VL@,7!T('-O;&ED.R!415A4+4%,24=..B!L969T.R!& M3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-EF4M861J=7-T.B!N;VYE.R!F;VYT+7-TF4M861J=7-T.B!N;VYE.R!F M;VYT+7-T6QE/3-$)U=)1%1(.B`Q)3L@0D]21$52+4)/5%1/33H@8FQA8VL@ M,7!T('-O;&ED.R!415A4+4%,24=..B!L969T.R!&3TY4.B`Q,'!T(%1I;65S M($YE=R!2;VUA;BP@5&EM97,L(%-EF4M861J=7-T.B!N M;VYE.R!F;VYT+7-T6QE/3-$)U=)1%1( M.B`Q)3L@4$%$1$E.1RU"3U143TTZ(#%P=#L@5$585"U!3$E'3CH@;&5F=#L@ M1D].5#H@,3!P="!4:6UEF4M861J=7-T.B!N;VYE.R!F;VYT+7-T6QE/3-$)U=)1%1(.B`Q,"4[($)/4D1%4BU" M3U143TTZ(&)L86-K(#%P="!S;VQI9#L@5$585"U!3$E'3CH@6QE/3-$ M)U=)1%1(.B`R)3L@4$%$1$E.1RU"3U143TTZ(#%P=#L@1D].5#H@,3!P="!4 M:6UEF4M861J=7-T.B!N;VYE.R!F;VYT M+7-T6QE/3-$)U9%4E1)0T%, M+4%,24=..B!B;W1T;VT[($)!0TM'4D]53D0M0T],3U(Z(')G8B@R,#0L,C4U M+#(P-"DG/B`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`\=&0@F4M861J=7-T.B!N;VYE.R!F;VYT+7-T6QE/3-$)T9/3E0M4TE:13H@ M,3!P="<^)FYB6QE/3-$)T9/3E0M4TE:13H@,3!P M=#L@5$585"U!3$E'3CH@;&5F="<^)FYB6QE/3-$ M)T9/3E0M4TE:13H@,3!P=#L@5$585"U!3$E'3CH@6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@5$585"U!3$E'3CH@;&5F M="<^)FYB6QE/3-$)T9/3E0M4TE:13H@,3!P="<^ M)FYB6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@5$58 M5"U!3$E'3CH@;&5F="<^)FYB6QE/3-$)T9/3E0M M4TE:13H@,3!P=#L@5$585"U!3$E'3CH@F4M861J=7-T.B!N;VYE.R!F M;VYT+7-T6QE/3-$)U1% M6%0M04Q)1TXZ(')I9VAT.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@ M5&EM97,L(%-EF4M861J=7-T.B!N;VYE.R!F;VYT+7-T M6QE M/3-$)U1%6%0M04Q)1TXZ(')I9VAT.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2 M;VUA;BP@5&EM97,L(%-EF4M861J=7-T.B!N;VYE.R!F M;VYT+7-T6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT.R!&3TY4.B`Q,'!T(%1I;65S M($YE=R!2;VUA;BP@5&EM97,L(%-EF4M861J=7-T.B!N M;VYE.R!F;VYT+7-T6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[($9/3E0Z(#$P<'0@5&EM97,@3F5W M(%)O;6%N+"!4:6UE6QE M/3-$)T9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[ M($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UEF4M861J M=7-T.B!N;VYE.R!F;VYT+7-T6QE M/3-$)U!!1$1)3DF4M861J=7-T.B!N;VYE.R!F;VYT+7-TF4M861J=7-T.B!N;VYE.R!F;VYT+7-TF4M M861J=7-T.B!N;VYE.R!F;VYT+7-TF4M861J=7-T.B!N;VYE.R!F M;VYT+7-TF4M861J=7-T.B!N;VYE.R!F;VYT M+7-TF4M861J=7-T.B!N;VYE.R!F;VYT+7-TF4M861J=7-T.B!N;VYE M.R!F;VYT+7-TF4M861J=7-T.B!N;VYE M.R!F;VYT+7-T6QE/3-$)T)/4D1%4BU"3U14 M3TTZ(&)L86-K(#%P="!S;VQI9#L@5$585"U!3$E'3CH@6QE/3-$)U!!1$1)3D6QE/3-$ M)U9%4E1)0T%,+4%,24=..B!B;W1T;VT[($)!0TM'4D]53D0M0T],3U(Z('=H M:71E)SX@/'1D('-T>6QE/3-$)U!!1$1)3DF4M861J=7-T.B!N M;VYE.R!F;VYT+7-TF4M861J=7-T.B!N;VYE.R!F;VYT+7-T6QE/3-$)T)/4D1% M4BU"3U143TTZ(&)L86-K(#(N-7!T(&1O=6)L93L@5$585"U!3$E'3CH@;&5F M=#L@1D].5#H@,3!P="!4:6UE6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#(N M-7!T(&1O=6)L93L@5$585"U!3$E'3CH@6QE/3-$)U!!1$1)3DF4M861J M=7-T.B!N;VYE.R!F;VYT+7-TF4M861J=7-T.B!N;VYE.R!F;VYT+7-T6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#(N M-7!T(&1O=6)L93L@5$585"U!3$E'3CH@;&5F=#L@1D].5#H@,3!P="!4:6UE M6QE M/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#(N-7!T(&1O=6)L93L@5$585"U! M3$E'3CH@6QE/3-$)U!!1$1) M3D"<^)FYB M6QE/3-$)U!!1$1)3D6QE/3-$)U9%4E1)0T%,+4%,24=..B!B;W1T;VTG/B`\=&0@6QE/3-$)U!!1$1)3D6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#%P M="!S;VQI9#L@5$585"U!3$E'3CH@8V5N=&5R.R!&3TY4.B`Q,'!T(%1I;65S M($YE=R!2;VUA;BP@5&EM97,L(%-EF4M861J=7-T.B!N M;VYE.R!F;VYT+7-TF4M861J=7-T.B!N;VYE.R!F;VYT+7-TF4M861J=7-T.B!N;VYE.R!F;VYT+7-T6QE/3-$)U!!1$1)3D6QE/3-$)U!!1$1)3D6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#%P="!S;VQI M9#L@5$585"U!3$E'3CH@8V5N=&5R.R!&3TY4.B`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`T-"4[(%!!1$1)3D6QE/3-$)U=)1%1(.B`R)3L@4$%$1$E.1RU"3U143TTZ M(#%P=#L@1D].5#H@,3!P="!4:6UEF4M M861J=7-T.B!N;VYE.R!F;VYT+7-T6QE M/3-$)U=)1%1(.B`R)3L@4$%$1$E.1RU"3U143TTZ(#%P=#L@1D].5#H@,3!P M="!4:6UEF4M861J=7-T.B!N;VYE.R!F M;VYT+7-TF4M861J=7-T.B!N;VYE.R!F;VYT+7-T6QE/3-$)U=)1%1(.B`Q M)3L@0D]21$52+4)/5%1/33H@8FQA8VL@,7!T('-O;&ED.R!415A4+4%,24=. M.B!L969T.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E MF4M861J=7-T.B!N;VYE.R!F;VYT+7-T6QE/3-$)U=)1%1(.B`Q)3L@4$%$1$E.1RU"3U143TTZ M(#%P=#L@5$585"U!3$E'3CH@;&5F=#L@1D].5#H@,3!P="!4:6UEF4M861J M=7-T.B!N;VYE.R!F;VYT+7-T6QE M/3-$)U=)1%1(.B`Q,"4[($)/4D1%4BU"3U143TTZ(&)L86-K(#%P="!S;VQI M9#L@5$585"U!3$E'3CH@6QE M/3-$)U=)1%1(.B`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`^(#QT86)L92!S='EL93TS1"=-05)'24XM0D]45$]- M.B`P<'0[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE2!D:60@;F]T(&AA=F4@86YY('1R M86YS9F5R2!O M9B!#:&%N9V5S(&EN($9A:7(@5F%L=64@;V8@3&5V96P@,R!,:6%B:6QI=&EE M'0^)SPA+2U$3T-465!% M(&AT;6P@4%5"3$E#("(M+R]7,T,O+T141"!82%1-3"`Q+C`@5')A;G-I=&EO M;F%L+R]%3B(@(FAT='`Z+R]W=W&AT M;6PQ+71R86YS:71I;VYA;"YD=&0B("TM/CQD:78^(#QD:78^/"$M+5-T87)T M1G)A9VUE;G0M+3X@/'`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`\=&0@6QE/3-$)T9/ M3E0M4TE:13H@,3!P=#L@4$%$1$E.1RU"3U143TTZ(#%P="<^)FYB6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@4$%$1$E.1RU"3U14 M3TTZ(#%P="<^)FYB6QE/3-$)T9/3E0M4TE:13H@ M,3!P=#L@0D]21$52+4)/5%1/33H@8FQA8VL@,7!T('-O;&ED.R!415A4+4%, M24=..B!C96YT97(G(&-O;'-P86X],T0R/C(P,30\+W1D/B`\=&0@6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@5TE$5$@Z(#$E.R!4 M15A4+4%,24=..B!L969T)SX@)FYB6QE/3-$)T9/ M3E0M4TE:13H@,3!P=#L@5TE$5$@Z(#(E)SXF;F)S<#L\+W1D/B`\=&0@6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@5TE$5$@Z(#$E.R!415A4 M+4%,24=..B!L969T)SXI/"]T9#X@/'1D('-T>6QE/3-$)T9/3E0M4TE:13H@ M,3!P=#L@5TE$5$@Z(#(E)SXF;F)S<#L\+W1D/B`\=&0@6QE/3-$ M)TU!4D=)3CH@,'!X)SXF;F)S<#L\+W`^(#QT86)L92!S='EL93TS1"=72414 M2#H@,3`P)3L@0D]21$52+4-/3$Q!4%-%.B!C;VQL87!S93L@1D].5#H@,3!P M="!4:6UE6QE/3-$)T9/3E0M M4TE:13H@,3!P=#L@5TE$5$@Z(#$E.R!415A4+4%,24=..B!C96YT97(G/B`F M;F)S<#L\+W1D/B`\=&0@6QE/3-$)T9/3E0M4TE: M13H@,3!P=#L@5TE$5$@Z(#$P)3L@5$585"U!3$E'3CH@8V5N=&5R)SX@56YR M96%L:7IE9#PO=&0^(#QT9"!S='EL93TS1"=&3TY4+5-)6D4Z(#$P<'0[(%=) M1%1(.B`Q)3L@5$585"U!3$E'3CH@8V5N=&5R)SX@)FYB6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@5TE$5$@Z(#(E.R!415A4+4%, M24=..B!C96YT97(G/B`F;F)S<#L\+W1D/B`\=&0@6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@5TE$ M5$@Z(#$E.R!415A4+4%,24=..B!C96YT97(G/B`F;F)S<#L\+W1D/B`\+W1R M/B`\='(^(#QT9"!S='EL93TS1"=&3TY4+5-)6D4Z(#$P<'0[(%1%6%0M04Q) M1TXZ(')I9VAT)SXF;F)S<#L\+W1D/B`\=&0@6QE M/3-$)T9/3E0M4TE:13H@,3!P=#L@5$585"U!3$E'3CH@8V5N=&5R)SXF;F)S M<#L\+W1D/B`\=&0@6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@5$585"U!3$E'3CH@8V5N=&5R M)SXF;F)S<#L\+W1D/B`\=&0@6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@5$585"U!3$E'3CH@ M8V5N=&5R)SY-87)C:"`S,2P\+W1D/B`\=&0@6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@0D]21$52+4)/ M5%1/33H@8FQA8VL@,7!T('-O;&ED.R!0041$24Y'+4)/5%1/33H@,7!T)SX@ M1&5S8W)I<'1I;VX\+W1D/B`\=&0@6QE/3-$)T9/ M3E0M4TE:13H@,3!P=#L@0D]21$52+4)/5%1/33H@8FQA8VL@,7!T('-O;&ED M.R!415A4+4%,24=..B!C96YT97(G/B`R,#$S/"]T9#X@/'1D('-T>6QE/3-$ M)T9/3E0M4TE:13H@,3!P=#L@4$%$1$E.1RU"3U143TTZ(#%P=#L@5$585"U! M3$E'3CH@8V5N=&5R)SX@)FYB6QE/3-$ M)U9%4E1)0T%,+4%,24=..B!B;W1T;VT[($)!0TM'4D]53D0M0T],3U(Z(')G M8B@R,#0L,C4U+#(P-"DG/B`\=&0@6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@5$585"U!3$E'3CH@6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@5$585"U! M3$E'3CH@;&5F="<^)FYB3X-"CPO:'1M;#X-"@T*+2TM M+2TM/5].97AT4&%R=%\S83,P,39D-E]B8C@X7S0Y-C!?.#@R,5\X,V,W-F9B M86$T-&(-"D-O;G1E;G0M3&]C871I;VXZ(&9I;&4Z+R\O0SHO,V$S,#$V9#9? M8F(X.%\T.38P7S@X,C%?.#-C-S9F8F%A-#1B+U=O'0O:'1M;#L@8VAA7!E(&-O;G1E;G0],T0G=&5X="]H=&UL.R!C:&%R M'0^)SQS<&%N/CPO2!O9B!787)R86YT'0^)SPA+2U$3T-465!% M(&AT;6P@4%5"3$E#("(M+R]7,T,O+T141"!82%1-3"`Q+C`@5')A;G-I=&EO M;F%L+R]%3B(@(FAT='`Z+R]W=W&AT M;6PQ+71R86YS:71I;VYA;"YD=&0B("TM/CQD:78^(#QD:78^/"$M+5-T87)T M1G)A9VUE;G0M+3X@/'`@F4M861J=7-T.B!N;VYE.R!F;VYT+7-T6QE/3-$ M)T)/4D1%4BU"3U143TTZ(&)L86-K(#%P="!S;VQI9#L@5$585"U!3$E'3CH@ M8V5N=&5R.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E MF4M861J=7-T.B!N;VYE.R!F;VYT+7-T6EN9R!787)R86YTF4M861J=7-T.B!N;VYE.R!F;VYT+7-TF4M861J=7-T.B!N;VYE M.R!F;VYT+7-T6QE/3-$)U9%4E1)0T%,+4%,24=..B!M:61D;&4[(%!! M1$1)3D&5R8VES92!06QE/3-$ M)U9%4E1)0T%,+4%,24=..B!M:61D;&4[(%!!1$1)3D6QE/3-$)U9%4E1)0T%,+4%,24=..B!B;W1T M;VT[($)!0TM'4D]53D0M0T],3U(Z(')G8B@R,#0L,C4U+#(P-"DG/B`\=&0@ MF4M M861J=7-T.B!N;VYE.R!F;VYT+7-T6QE/3-$)U=)1%1(.B`Q)3L@5$585"U! M3$E'3CH@;&5F=#L@1D].5#H@,3!P="!4:6UEF4M861J=7-T.B!N;VYE.R!F;VYT+7-T6QE/3-$)U=)1%1(.B`Q)3L@5$58 M5"U!3$E'3CH@;&5F=#L@1D].5#H@,3!P="!4:6UE6QE/3-$)U=)1%1(.B`Q-24[ M(%1%6%0M04Q)1TXZ(')I9VAT.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA M;BP@5&EM97,L(%-EF4M861J=7-T.B!N;VYE.R!F;VYT M+7-TF4M861J=7-T.B!N;VYE M.R!F;VYT+7-T6QE/3-$)U=)1%1( M.B`R,"4[(%1%6%0M04Q)1TXZ(')I9VAT.R!&3TY4.B`Q,'!T(%1I;65S($YE M=R!2;VUA;BP@5&EM97,L(%-E6QE/3-$)U9%4E1)0T%,+4%,24=..B!B;W1T;VT[($)!0TM'4D]53D0M M0T],3U(Z('=H:71E)SX@/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[ M($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT.R!& M3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-EF4M861J=7-T.B!N;VYE.R!F;VYT+7-TF4M861J=7-T.B!N;VYE.R!F;VYT+7-T6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT.R!&3TY4.B`Q,'!T(%1I;65S($YE M=R!2;VUA;BP@5&EM97,L(%-EF4M861J=7-T.B!N;VYE M.R!F;VYT+7-TF4M M861J=7-T.B!N;VYE.R!F;VYT+7-T6QE/3-$)U9%4E1)0T%,+4%,24=. M.B!B;W1T;VT[($)!0TM'4D]53D0M0T],3U(Z(')G8B@R,#0L,C4U+#(P-"DG M/B`\=&0@6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[($9/3E0Z(#$P<'0@5&EM M97,@3F5W(%)O;6%N+"!4:6UE6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[($9/3E0Z(#$P<'0@5&EM97,@ M3F5W(%)O;6%N+"!4:6UE6QE M/3-$)T9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT M.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E6QE/3-$)U1%6%0M M04Q)1TXZ(')I9VAT.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM M97,L(%-EF4M861J=7-T.B!N;VYE.R!F;VYT+7-TF4M861J=7-T.B!N;VYE M.R!F;VYT+7-TF4M861J=7-T.B!N;VYE.R!F;VYT+7-T6QE/3-$)U1%6%0M04Q)1TXZ(&QE M9G0[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[ M($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE6QE/3-$)T9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O M;6%N+"!4:6UE6QE/3-$ M)U1%6%0M04Q)1TXZ(')I9VAT.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA M;BP@5&EM97,L(%-E6QE/3-$)T9/ M3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[($9/3E0Z M(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[($9/3E0Z(#$P<'0@5&EM97,@ M3F5W(%)O;6%N+"!4:6UE6QE/3-$)T9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE6QE/3-$)U1%6%0M04Q)1TXZ(')I M9VAT.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-EF4M M861J=7-T.B!N;VYE.R!F;VYT+7-TF4M861J=7-T.B!N;VYE.R!F;VYT+7-TF4M861J=7-T.B!N M;VYE.R!F;VYT+7-TF4M861J=7-T.B!N;VYE M.R!F;VYT+7-TF4M861J=7-T.B!N;VYE.R!F;VYT+7-TF4M M861J=7-T.B!N;VYE.R!F;VYT+7-T2`R,#$W/"]T M9#X@/"]T6QE/3-$)U9%4E1)0T%,+4%,24=..B!B;W1T;VT[ M($)!0TM'4D]53D0M0T],3U(Z('=H:71E)SX@/'1D('-T>6QE/3-$)U1%6%0M M04Q)1TXZ(&QE9G0[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE M6QE/3-$)U1%6%0M04Q) M1TXZ(')I9VAT.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L M(%-EF4M861J=7-T.B!N;VYE.R!F;VYT+7-TF4M861J=7-T.B!N;VYE.R!F;VYT M+7-TF4M861J=7-T.B!N;VYE.R!F;VYT+7-TF4M861J=7-T.B!N;VYE.R!F;VYT+7-TF4M861J=7-T M.B!N;VYE.R!F;VYT+7-TF4M861J=7-T.B!N;VYE.R!F;VYT+7-T6QE/3-$)U9%4E1)0T%, M+4%,24=..B!B;W1T;VT[($)!0TM'4D]53D0M0T],3U(Z(')G8B@R,#0L,C4U M+#(P-"DG/B`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`\+W1R/B`\+W1A8FQE M/B`\<"!S='EL93TS1"=&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM M97,L(%-E6QE/3-$)U=)1%1(.B`S)3L@4$%$1$E.1RU224=(5#H@,"XX M<'0G/B9N8G-P.SPO=&0^(#QT9"!S='EL93TS1"=&3TY4.B`Q,'!T(%1I;65S M($YE=R!2;VUA;BP@5&EM97,L(%-EF4M861J=7-T.B!N M;VYE.R!F;VYT+7-TF4M M861J=7-T.B!N;VYE.R!F;VYT+7-T3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R=%\S83,P,39D-E]B8C@X M7S0Y-C!?.#@R,5\X,V,W-F9B86$T-&(-"D-O;G1E;G0M3&]C871I;VXZ(&9I M;&4Z+R\O0SHO,V$S,#$V9#9?8F(X.%\T.38P7S@X,C%?.#-C-S9F8F%A-#1B M+U=O'0O M:'1M;#L@8VAA&AT;6PQ+T141"]X:'1M;#$M=')A;G-I=&EO;F%L+F1T M9"(@+2T^/&1I=CX@/&1I=CX\(2TM4W1A6QE/3-$)T9/3E0Z(#$P<'0@5&EM97,@3F5W M(%)O;6%N+"!4:6UE#L@5$585"U) M3D1%3E0Z(#`N-6EN.R!F;VYT+7-I>F4M861J=7-T.B!N;VYE.R!F;VYT+7-T M6QE/3-$)U=) M1%1(.B`V,"4[($)/4D1%4BU#3TQ,05!313H@8V]L;&%P6QE/3-$)U!!1$1)3D6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L M86-K(#%P="!S;VQI9#L@5$585"U!3$E'3CH@8V5N=&5R.R!&3TY4.B`Q,'!T M(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-EF4M861J M=7-T.B!N;VYE.R!F;VYT+7-T6UE;G1S/"]T9#X@/'1D('-T>6QE/3-$)U!!1$1)3D6QE/3-$)U9% M4E1)0T%,+4%,24=..B!B;W1T;VT[($)!0TM'4D]53D0M0T],3U(Z(')G8B@R M,#0L,C4U+#(P-"DG/B`\=&0@F4M861J M=7-T.B!N;VYE.R!F;VYT+7-TF4M861J=7-T M.B!N;VYE.R!F;VYT+7-T6QE/3-$)U9%4E1)0T%,+4%,24=. M.B!B;W1T;VT[($)!0TM'4D]53D0M0T],3U(Z('=H:71E)SX@/'1D('-T>6QE M/3-$)U!!1$1)3D6QE/3-$)U!! M1$1)3D6QE/3-$)T)/ M4D1%4BU"3U143TTZ(&)L86-K(#%P="!S;VQI9#L@5$585"U!3$E'3CH@;&5F M=#L@1D].5#H@,3!P="!4:6UE6QE/3-$)U!!1$1)3D6QE/3-$)U9%4E1)0T%, M+4%,24=..B!B;W1T;VT[($)!0TM'4D]53D0M0T],3U(Z(')G8B@R,#0L,C4U M+#(P-"DG/B`\=&0@6QE/3-$)U!!1$1)3DF4M861J=7-T.B!N;VYE.R!F;VYT+7-TF4M861J=7-T.B!N;VYE.R!F;VYT+7-T6QE/3-$ M)T9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE#L@5$585"U)3D1%3E0Z(#`N-6EN.R!F;VYT+7-I>F4M M861J=7-T.B!N;VYE.R!F;VYT+7-T&AT;6PQ+T141"]X:'1M;#$M=')A;G-I M=&EO;F%L+F1T9"(@+2T^/&1I=CX@/&1I=CX\(2TM4W1A#L@9F]N M="US:7IE+6%D:G5S=#H@;F]N93L@9F]N="US=')E=&-H.B!N;W)M86PG/B`F M;F)S<#L\+W`^(#QT86)L92!S='EL93TS1"=724142#H@-C`E.R!"3U)$15(M M0T],3$%04T4Z(&-O;&QA<'-E.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA M;BP@5&EM97,L(%-EF4M861J=7-T.B!N;VYE.R!F;VYT M+7-T6QE/3-$)U9%4E1)0T%,+4%, M24=..B!B;W1T;VT[($)!0TM'4D]53D0M0T],3U(Z(')G8B@R,#0L,C4U+#(P M-"DG/B`\=&0@F4M861J=7-T.B!N;VYE.R!F;VYT M+7-T6QE/3-$)U=)1%1(.B`Q)3L@5$585"U!3$E'3CH@;&5F=#L@1D]. M5#H@,3!P="!4:6UEF4M861J=7-T.B!N;VYE.R!F;VYT+7-TF4M M861J=7-T.B!N;VYE.R!F;VYT+7-T6QE/3-$ M)U!!1$1)3DF4M861J=7-T.B!N;VYE.R!F;VYT+7-TF4M861J=7-T.B!N;VYE.R!F;VYT+7-T M6QE/3-$)T9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE#L@5$585"U)3D1%3E0Z(#`N-6EN.R!F M;VYT+7-I>F4M861J=7-T.B!N;VYE.R!F;VYT+7-T7!E M.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@ M/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C M;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA'0^)SQS<&%N/CPO'0^)SQS<&%N/CPO M'0^)SQS<&%N/CPO'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA'0^)SQS<&%N/CPO'0^)SQS<&%N M/CPO'0^)SQS<&%N/CPO'0^)SQS<&%N/CPO M'0^)SQS M<&%N/CPO'0^)S,@;6]N=&AS/'-P86X^/"]S<&%N/CPO=&0^ M#0H@("`@("`@(#QT9"!C;&%S'0^)SQS<&%N/CPO7!E.B!T97AT+VAT;6P[(&-H M87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@/&AE860^#0H@("`@/$U% M5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O M:'1M;#L@8VAAF5D(%!E65E(%-E'0^)SQS<&%N/CPO'!E;G-E/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$ M;G5M<#XQ.#DL.3$W/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`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`@/&AE860^ M#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C;VYT96YT M/3-$)W1E>'0O:'1M;#L@8VAA'0^)SQS M<&%N/CPOF5D("A'86EN M3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R=%\S83,P,39D-E]B8C@X M7S0Y-C!?.#@R,5\X,V,W-F9B86$T-&(-"D-O;G1E;G0M3&]C871I;VXZ(&9I M;&4Z+R\O0SHO,V$S,#$V9#9?8F(X.%\T.38P7S@X,C%?.#-C-S9F8F%A-#1B M+U=O'0O M:'1M;#L@8VAA'0^)SQS<&%N/CPO'0^)SQS<&%N/CPO'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA2`S M,"!D87ES('5N=&EL(&9A:6QU&EM=6T@6TUE;6)E'0^)SQS<&%N/CPO'0^)SQS<&%N/CPO'0^)SQS<&%N/CPO'0^)SQS<&%N M/CPO'0^)SQS<&%N/CPO'0^)S$P('EE87)S/'-P86X^/"]S M<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$'0^)SQS<&%N/CPO M'!E'0^)SQS<&%N/CPO'0^)SQS<&%N M/CPO'0^)SQS<&%N/CPO'0^)SQS M<&%N/CPO'0^)SQS<&%N/CPO7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\:'1M M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA2!;3&EN92!)=&5M'0^)SQS<&%N/CPO'0^)SQS<&%N/CPO'0^)SQS<&%N/CPO'0^)SQS<&%N/CPO'0^)S$P('EE M87)S/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^)SQS<&%N/CPO'0^)SQS<&%N/CPO'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA2`H4V-H961U;&4@;V8@5V%R&5R8VES92!0'0^)SQS<&%N/CPO'0^)SQS<&%N/CPO'0^)SQS<&%N/CPO'0^)SQS<&%N/CPO'0^36%R(#$L#0H)"3(P M,#D\'0^2G5L(#$L#0H)"3(P,3`\ M'0^)SQS M<&%N/CPO'0^36%R(#$L#0H) M"3(P,3<\'0^3V-T(#$L#0H)"3(P M,34\'0^36%R(#$L#0H)"3(P,C(\ M3X-"CPO:'1M M;#X-"@T*+2TM+2TM/5].97AT4&%R=%\S83,P,39D-E]B8C@X7S0Y-C!?.#@R M,5\X,V,W-F9B86$T-&(-"D-O;G1E;G0M3&]C871I;VXZ(&9I;&4Z+R\O0SHO M,V$S,#$V9#9?8F(X.%\T.38P7S@X,C%?.#-C-S9F8F%A-#1B+U=O'0O:'1M;#L@8VAA M2!/9F9E'0^)SQS M<&%N/CPO'0^)SQS<&%N/CPO7!E.B!T97AT+VAT;6P[(&-H87)S M970](G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@ M:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M M;#L@8VAA'0^)SQS<&%N/CPO'0^)SQS<&%N/CPO'0^)SQS<&%N/CPO'0^)SQS<&%N/CPO'0^)SQS<&%N/CPO3PO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^)SQS<&%N/CPO'0^)SQS<&%N/CPO'0^)SQS<&%N/CPO2P@<75A;&EF:65D('5N8FEL;&5D(&%C8V]U;G1S(')E M8V5I=F%B;&4L('!E'0^)SQS<&%N/CPO'0^)SQS<&%N/CPO'0^)SQS<&%N/CPO'0^)SQS M<&%N/CPO6%B;&4L(&EN=&5R97-T(')A=&4@'0^)SQS<&%N/CPO'0^)SQS<&%N/CPO M'0^ M)SQS<&%N/CPO2!D871E+"!P97)C M96YT/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#XG/'-P86X^/"]S M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^)SQS<&%N/CPO M'0^)SQS<&%N M/CPO'0^ M)SQS<&%N/CPO'0^)SQS<&%N/CPO'0^)SQS<&%N/CPO'0^)SQS<&%N/CPO'0^)SQS<&%N/CPO'0^)SQS<&%N/CPO'0^)SQS<&%N M/CPO'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA6UE;G1S(&]N('1H92!497)M($QO86XI("A$971A:6QS M*2`H55-$("0I/&)R/CPO'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA'0^)SQS<&%N/CPO'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA2!O9F9E&UL/@T*+2TM+2TM/5].97AT4&%R=%\S83,P,39D-E]B >8C@X7S0Y-C!?.#@R,5\X,V,W-F9B86$T-&(M+0T* ` end XML 17 R29.htm IDEA: XBRL DOCUMENT v2.4.0.8
Financing Transactions (Loan Agreement with GE Capital) (Details) (USD $)
 3 Months Ended 3 Months Ended
Mar. 31, 2014
Dec. 31, 2013
Mar. 30, 2012
Mar. 31, 2014
Line of Credit [Member]
Mar. 30, 2012
Line of Credit [Member]
Mar. 31, 2014
Loans Payable [Member]
Debt Instrument [Line Items]            
Debt instrument, carrying amount     $ 2,500,000      
Line of credit facility, maximum borrowing capacity         5,000,000  
Current borrowing capacity       900,000    
Line of credit facility borrowing capacity, qualified billed accounts receivable, percent       85.00%    
Line of credit facility borrowing capacity, qualified unbilled accounts receivable, percent       80.00%    
Fixed interest rate           10.14%
Adjustable interest rate, reference rate, floor percentage 1.5%       1.50%    
Loan payable, interest rate spread       5.00%    
Incremental borrowing rate used to calculate discount       6.50%    
Prepayment premium, if we prepay the term loan and terminate the revolving line of credit prior to the scheduled maturity date, percent           2.00%
Final payment fee payable on term loan balance, percent           3.00%
Warrants issued to purchase common stock, in connection with loan agreement           46,584
Warrant exercise price           1.61
Debt discount       14,620    
Derivative instruments, less current portion $ 1,495,576 $ 1,688,572        
XML 18 R28.htm IDEA: XBRL DOCUMENT v2.4.0.8
Financing Transactions (Controlled Equity Offering) (Details) (Equity Offering [Member], USD $)
 3 Months Ended
Mar. 31, 2014
Mar. 25, 2013
Equity Offering [Member]
    
Equity Offering [Line Items]    
The maximum value of common stock issuable under the controlled equity offering arrangement   $ 15,000,000
Commission owed to sales agent, expressed as percentage of aggregate gross proceeds from each sale of shares of common stock   3.00%
Proceeds from issuance of common stock, net of issuance costs received 2,500,000  
Number of shares sold 1,324,553  
Amount remaining available under controlled equity offering arrangement $ 6,000,000  
XML 19 R30.htm IDEA: XBRL DOCUMENT v2.4.0.8
Financing Transactions (Principal Payments on the Term Loan) (Details) (USD $)
Mar. 31, 2014
Financing Transactions [Abstract]  
2014 $ 749,997
2015 750,007
Total $ 1,500,004
XML 20 R31.htm IDEA: XBRL DOCUMENT v2.4.0.8
Financing Transactions (Term Loan, Net of Debt Discount) (Details) (USD $)
Mar. 31, 2014
Dec. 31, 2013
Financing Transactions [Abstract]    
Current portion of long-term debt $ 999,996 $ 999,996
Long-term debt, less current portion 485,388 730,279
Long term debt, net of discount $ 1,485,384  
XML 21 R8.htm IDEA: XBRL DOCUMENT v2.4.0.8
Summary of Significant Accounting Policies
 3 Months Ended
Mar. 31, 2014
Summary of Significant Accounting Policies [Abstract]  
Summary of Significant Accounting Policies

Note 2 - Summary of Significant Accounting Policies

 

Basis of Presentation

 

Our unaudited condensed consolidated financial statements include the accounts of PharmAthene, Inc. and its wholly-owned subsidiaries. All significant intercompany transactions and balances have been eliminated in consolidation. Our unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States ("U.S. GAAP").  In the opinion of management, the accompanying unaudited condensed consolidated financial statements include all adjustments, consisting of normal recurring adjustments, which are necessary to present fairly our financial position, results of operations and cash flows.  The unaudited condensed consolidated balance sheet at December 31, 2013 has been derived from audited consolidated financial statements at that date.  Interest income in the prior year has been reclassified and is now included in interest income and expense, net on the unaudited condensed consolidated statements of operations to conform with current year's presentation. The interim results of operations are not necessarily indicative of the results that may occur for the full fiscal year.   Certain information and footnote disclosure normally included in the financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to instructions, rules and regulations prescribed by the U.S. Securities and Exchange Commission. We believe that the disclosures provided herein are adequate to make the information presented not misleading when these unaudited condensed consolidated financial statements are read in conjunction with the Consolidated Financial Statements and Notes included in our Annual Report on Form 10-K for the year ended December 31, 2013, filed with the Securities and Exchange Commission. We currently operate in one business segment.

 

Use of Estimates

 

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period.  Our unaudited condensed consolidated financial statements include significant estimates for our share-based compensation and the value of our financial instruments, among other things. Because of the use of estimates inherent in the financial reporting process, actual results could differ significantly from those estimates.

 

Foreign Currency Translation

 

The functional currency of our wholly owned foreign subsidiaries is their local currency.  Assets and liabilities of our foreign subsidiaries are translated into United States dollars based on exchange rates at the end of the reporting period.  Income and expense items are translated at the weighted average exchange rates prevailing during the reporting period. Translation adjustments for subsidiaries that have not been sold, substantially liquidated or otherwise disposed of, are accumulated in other comprehensive loss, a component of stockholders' equity. Foreign currency translation adjustments are the sole component of accumulated other comprehensive loss at March 31, 2014 and December 31, 2013. Transaction gains or losses are included in the determination of net loss.

 

Cash and Cash Equivalents

 

Cash and cash equivalents are stated at market value.  We consider all highly liquid investments with original maturities of three months or less to be cash equivalents, which, among other things, consist of investments in money market funds with financial institutions. The Company maintains cash balances with financial institutions in excess of insured limits. The Company does not anticipate any losses on such cash balances.

 

Revolving Line of Credit and Term Loan

 

As discussed further in Note 6- Financing Transactions, we entered into a loan agreement with General Electric Capital Corporation ("GE Capital") in March 2012. As part of that agreement, we issued stock purchase warrants to GE Capital that expire in March 2022. The fair value of the warrants was charged to additional paid-in-capital, resulting in a debt discount to the Term Loan at the date of issuance. The debt discount and the financing costs, incurred in connection with the agreement, are being amortized over the term of the loan using the effective interest method and are included in interest expense in the unaudited condensed consolidated statements of operations.

 

Significant Customers and Accounts Receivable

 

Our primary customers are the Biomedical Advanced Research and Development Authority, or BARDA, and Chemical Biological Medical Systems, or CBMS. As of March 31, 2014 and December 31, 2013, the Company's receivable balances (both billed and unbilled) were comprised solely of receivables from BARDA. See Note 7 - Subsequent Events for further details on the status of our contract with BARDA.

 

Goodwill

 

Goodwill represents the excess of purchase price over the fair value of net identifiable assets associated with acquisitions. We review the recoverability of goodwill annually at the end of our fiscal year and whenever events or changes in circumstances indicate that it is more likely than not that impairment exists. Recoverability of goodwill is reviewed by comparing our market value (as measured by our stock price multiplied by the number of outstanding shares as of the end of the year) to the net book value of our equity. If our market value exceeds our net book value, no further analysis is required. We completed our annual impairment assessment of goodwill on December 31, 2013 and determined that there was no impairment as of that date. Changes in our business strategy or adverse changes in market conditions could impact the impairment analyses and require the recognition of an impairment charge equal to the excess of the carrying value over its estimated fair value.

 

Financial Instruments

 

Our financial instruments, and/or embedded features contained in those instruments, often are classified as derivative liabilities and are recorded at their fair values. The determination of fair value of these instrument and features requires estimates and judgments. Some of our stock purchase warrants are considered to be derivative liabilities due to the presence of net settlement features and/or non-standard anti-dilution provisions; the fair value of our warrants is determined based on the Black-Scholes option pricing model.  Use of the Black-Scholes option pricing model requires the use of unobservable inputs such as the expected term, anticipated volatility and expected dividends. See Note 3- Fair Value Measurements for further details.

 

 Revenue Recognition

 

We generate our revenue from different types of contractual arrangements: cost-plus-fee contracts and fixed price contracts.

 

Revenues on cost-plus-fee contracts are recognized in an amount equal to the costs incurred during the period plus an estimate of the applicable fee earned. The estimate of the applicable fee earned is determined by reference to the contract: if the contract defines the fee in terms of risk-based milestones and specifies the fees to be earned upon the completion of each milestone, then the fee is recognized when the related milestones are earned, as further described below; otherwise, we estimate the fee earned in a given period by using a proportional performance method based on costs incurred during the period as compared to total estimated project costs and application of the resulting fraction to the total project fee specified in the contract.

 

Under the milestone method of revenue recognition, milestone payments (including milestone payments for fees) contained in research and development arrangements are recognized as revenue when: (i) the milestones are achieved; (ii) no further performance obligations with respect to the milestone exist; (iii) collection is reasonably assured; and (iv) substantive effort was necessary to achieve the milestone.

 

Milestones are considered substantive if all of the following conditions are met:

 

  • it is commensurate with either our performance to meet the milestone or the enhancement of the value of the delivered item or items as a result of a specific outcome resulting from our performance to achieve the milestone,

 

  • it relates solely to past performance, and

 

  • the value of the milestone is reasonable relative to all the deliverables and payment terms (including other potential milestone consideration) within the arrangement.

 

If a milestone is deemed not to be substantive, the Company recognizes the portion of the milestone payment as revenue that correlates to work already performed using the proportional performance method; the remaining portion of the milestone payment is deferred and recognized as revenue as the Company completes its performance obligations.

 

Revenue on fixed price contracts (without substantive milestones as described above) is recognized on the percentage-of-completion method. The percentage-of-completion method recognizes income as the contract progresses (generally related to the costs incurred in providing the services required under the contract). The use of the percentage-of-completion method depends on the ability to make reasonable dependable estimates and the fact that circumstances may necessitate frequent revision of estimates does not indicate that the estimates are unreliable for the purpose for which they are used.

 

As a result of our revenue recognition policies and the billing provisions contained in our contracts, the timing of customer billings may differ from the timing of recognizing revenue. Amounts invoiced to customers in excess of revenue recognized are reflected on the balance sheet as deferred revenue. Amounts recognized as revenue in excess of amounts billed to customers are reflected on the balance sheet as unbilled accounts receivable.

 

Upon notice of termination of a contract from the government, all related termination costs are expensed. If there is assurance that collection is reasonably assured, then revenue is taken as if the contract was a cost-plus-fee contract.

 

Share-Based Compensation

 

We expense the estimated fair value of share-based awards granted to employees under our stock compensation plans. The fair value of stock options is determined at the grant date using the Black-Scholes option pricing model. The Black-Scholes model considers, among other factors, the expected life of the award and the expected volatility of our stock price. The value of the award that is ultimately expected to vest is recognized as expense on a straight line basis over the employee's requisite service period.

 

The fair value of restricted stock grants is determined based on the closing price of our common stock on the award date and is recognized as expense ratably over the requisite service period.  

 

Employee share-based compensation expense recognized in the three months ended March 31, 2014 and 2013 was calculated based on awards ultimately expected to vest and has been reduced for estimated forfeitures at a rate of approximately 12%, based on historical forfeitures. 

Share-based compensation expense for the three months ended March 31, 2014 and 2013 was:

 

    Three months ended March 31,  
    2014     2013  
             
Research and development   $ 189,917     $ 88,634  
General and administrative     338,961       239,947  
Total share-based compensation expense   $ 528,878     $ 328,581  

 

 

During the three months ended March 31, 2014, we granted 1,217,755 options to employees and consultants and made no restricted stock grants.  During the three months ended March 31, 2013, we granted 60,000 options to employees and made no restricted stock grants.  At March 31, 2014, we had total unrecognized share-based compensation expense related to unvested awards of approximately $2.3 million net of estimated forfeitures, which we expect to recognize as expense over a weighted-average period of 2.8 years.

 

Income Taxes

 

We account for income taxes using the asset and liability approach, which requires the recognition of future tax benefits or liabilities on the temporary differences between the financial reporting and tax bases of our assets and liabilities. A valuation allowance is established when necessary to reduce deferred tax assets to the amounts expected to be realized. We also recognize a tax benefit from uncertain tax positions only if it is "more likely than not" that the position is sustainable based on its technical merits. Our policy is to recognize interest and penalties on uncertain tax positions as a component of income tax expense.

 

Income tax expense was $29,705 and $9,743 during the three months ended March 31, 2014 and 2013, respectively relating exclusively to the generation of a deferred tax liability associated with the tax amortization of goodwill, which is included as a component of other long-term liabilities on our consolidated balance sheets.

 

Basic and Diluted Net Loss Per Share

 

Income (loss) per share: Basic income (loss) per share is computed by dividing consolidated net income (loss) by the weighted average number of common shares outstanding during the period, excluding unvested restricted stock.

 

For periods of net income when the effects are not anti-dilutive, diluted earnings per share is computed by dividing our net income by the weighted average number of shares outstanding and the impact of all potential dilutive common shares, consisting  primarily of stock options, unvested restricted stock and stock purchase warrants.  The dilutive impact of our dilutive potential common shares resulting from stock options and stock purchase warrants is determined by applying the treasury stock method.  

 

For periods of net loss, diluted loss per share is calculated similarly to basic loss per share because the impact of all dilutive potential common shares is anti-dilutive due to the net losses. A total of approximately 12.6 million and 11.6 million potential dilutive securities have been excluded in the calculation of diluted net loss per share in the three months ended March 31, 2014 and 2013, respectively, because their inclusion would be anti-dilutive.

 

Recent Accounting Pronouncements

 

We have evaluated all Accounting Standards Updates through the date the unaudited condensed consolidated financial statements were issued and believe the adoption of these will not have a material impact on our results of operations, financial position, or cash flows.

 
XML 22 R32.htm IDEA: XBRL DOCUMENT v2.4.0.8
Subsequent Events (Details) (Subsequent Event [Member], USD $)
 3 Months Ended
Mar. 31, 2014
Subsequent Event [Member]
  
Subsequent Event [Line Items]  
Number of new stock issued during the period under the controlled equity offering arrangement 723,073
Proceeds from issuance of common stock $ 1,100,000
Proceeds From Issuance Of Common Stock Remaining under the controlled equity offering arrangement $ 4,800,000
XML 23 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
Mar. 31, 2014
Dec. 31, 2013
Current assets:    
Cash and cash equivalents $ 9,534,720 $ 10,480,979
Accounts receivable (billed)    1,427,113
Unbilled accounts receivable 1,649,896 2,199,525
Prepaid expenses and other current assets 401,448 231,491
Total current assets 11,586,064 14,339,108
Property and equipment, net 380,572 386,068
Other long-term assets and deferred costs 59,132 65,660
Goodwill 2,348,453 2,348,453
Total assets 14,374,221 17,139,289
Current liabilities:    
Accounts payable 471,803 1,128,172
Accrued expenses and other liabilities 1,929,379 3,182,687
Deferred revenue 62,261 341,723
Short-term debt    1,091,740
Current portion of long-term debt 999,996 999,996
Current portion of derivative instruments 2,018 51,663
Total current liabilities 3,465,457 6,795,981
Other long-term liabilities 602,398 588,745
Long-term debt, less current portion 485,388 730,279
Derivative instruments, less current portion 1,495,576 1,688,572
Total liabilities 6,048,819 9,803,577
Stockholders' equity:    
Common stock, $0.0001 par value; 100,000,000 shares authorized; 53,773,705 and 52,304,426 shares issued and outstanding at March 31, 2014 and December 31, 2013, respectively 5,377 5,230
Additional paid-in-capital 221,125,757 217,877,117
Accumulated other comprehensive loss (219,367) (218,710)
Accumulated deficit (212,586,365) (210,327,925)
Total stockholders' equity 8,325,402 7,335,712
Total liabilities and stockholders' equity $ 14,374,221 $ 17,139,289
XML 24 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
 3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Operating activities    
Net loss $ (2,258,440) $ (2,111,385)
Adjustments to reconcile net loss to net cash used in operating activities:    
Share-based compensation expense 528,878 328,581
Change in fair value of derivative instruments (242,641) 905,777
Depreciation expense 39,939 52,602
Deferred income taxes 29,705 9,743
Non-cash interest expense 26,591 32,431
Gain on the disposal of property and equipment (5,393)   
Changes in operating assets and liabilities:    
Accounts receivable 1,427,113 566,725
Unbilled accounts receivable 549,629 400,645
Prepaid expenses and other current assets (178,704) 39,486
Accounts payable (656,373) (407,653)
Accrued expenses and other liabilities (1,274,906) 950,800
Deferred revenue (279,462) (507,351)
Net cash (used in) provided by operating activities (2,294,064) 260,401
Investing activities    
Purchase of property and equipment (37,050) (25,468)
Proceeds from the sale of property and equipment 8,000   
Net cash used in investing activities (29,050) (25,468)
Financing activities    
Repayment of debt (249,999)   
Net proceeds from (repayment of) revolving credit agreement (1,091,740) (1,274)
Deferred financing costs    (112,500)
Net proceeds from issuance of common stock 2,719,184 53,413
Net cash provided (used) by financing activities 1,377,445 (60,361)
Effects of exchange rates on cash (590) (2,678)
(Decrease) increase in cash and cash equivalents (946,259) 171,894
Cash and cash equivalents, at beginning of period 10,480,979 12,701,517
Cash and cash equivalents, at end of period 9,534,720 12,873,411
Supplemental disclosure of cash flow information    
Cash paid for interest $ 43,287 $ 67,360
ZIP 25 0001144204-14-028677-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001144204-14-028677-xbrl.zip M4$L#!!0````(`.B%J$2?:UQ2(XL``#7?!0`0`!P`<&EP+3(P,30P,S,Q+GAM M;%54"0`#4^UK4U/M:U-U>`L``00E#@``!#D!``#L/6ES(CFRWU_$^P\:WO1& M=P1@JHKB<$_//FSC'F+F9W;>-U$E0#MU;1T^]M>_3$EU08'!!C<=XSFZ MH4I*9:;RE%+BI[\_N`ZY8V'$?>]336NV:H1YEF]S;_:I]O6V,;@]'8UJ)(JI M9U/']]BGFN?7_O[S?__73S\T&J21_,:]F,X8.><.](W(^]IOY[4/ MC89J&82^G5C0U/>(WM+:C9;9:'7)_Q+SV.B1ZR^RX<,D=`A@Y$7'EI]X020C)KJ`,/^F;6^O[]OBAY^.(-6+>,(7T]H MQ-+F`0]*K8,Y#5T:SYG'FI;O(NAVRS"TM#U"XVO@"&XT6AIC1SI)&K,*,T)G=)H(B"K%Q5= M>.2W=:V[CE+90G78A"4PM83\A'0<1]:A^1#9-7(DX0"IQP.7>3;\'Y\[=$:X_:E6>M+L]K1^LY7_6R.6 M[\7L(;Y!T-/0=QM2"C7\+_;5-P,8L=07>O\\I4[$?CI:&CK'Z#0)0WS((XLZ M?S`:#CW[#)1#(+?JY<[Q;#0T'=Y)3%>-FB-]YEN)FS6Y9B'W[7-X%@FL5[[= M.=K_4!BO''$5RDC5*H2S=SM'%U]7(9R-N(RNI*4H$Y5O]H*J?%U&N#3J,KIC M4,L2EOA@Y\AIK<8_RFCA,#DV0R_F\>,I/`^I,_)L]O`K>Q1H5;[9.7ZM%IA' MO:/U6Q++RE&7T/5=U_=N8]_Z\Q9\"HNNDEBX3W"+1=S7-`-D]#6$T*CA3QN9 M%]66FF.'Q..R=22@UXC-+.Z"&?M4`\K,=KO;T8Q>B:XU&"T2"5Z>A:<@.C,_ M+,Y(Z?G.YV-@60S@BY!#C%1$OS3T(KXW;,8CF#4OOJ0N*R!5I$N#QTCO$XI,CRVT=WXCL"U=*3W>,XNI9HE8:1^(`3/@:N MAPFSAP\!\R(6#3S["L*D4'F7"TXG$/+%G$D;O'%KE%IM,R%7J)>;EX3\Z^W9 M@H1K?;UO=/L_'6U%PJM0K6]`M2$=^5+S)Z@VM)[>Z76?3[7]KP1T?N*P,S:) M1Q#`A<(NPW`,.EEL!+B":8AO0-'.'=\/P9%83(;^@A$O`""ET]#:>M,`#KQ` MOBM@9$P+DI`5N6:`G6^V-%/Q[`7XYVP\X8[#;V\B/UHB98ENF,7X'8*_ M9+%@V&9-]ZTLG1;^(UFP&48%8B$)M.97TU,?_:(5)]1!5\)CY-O@GH:V##8D MN1LV;G;[[7;3,+I&LVUTS*9NM&%F3:VKKQ8)D(=^+A+BF]&2@%JK0?U\K;7^ M4)1OB%Q.^RF-YL-_)\`5!YI$7VB M\4S:5L."\!:G'%-81>I3V+T.N>8.R35+Y$+(W&H?&KF='9+;62*W>VCD=G=( M;K=,+O3K?'-R3;,#!L64=.LO(785)-3;[B'H;0G!]LY(;2^9J&\OQ"4$>SLC MM5<68%TT;6U/*OK9"%>AK^Z9/?9OP5=%@QGX*PA?(=Z*(`R)\E#K:CJ8S4(V M`QB?0S^*KD/?8LR.S@'_(?AP['XUE6FL9-+^X$.$T=$@JC#Z/?'G"C=>".V! M1;HIN[6J.ZZ,5G41K1J*O_LCJC@S22B#'V:?LXR=Y8.87Z;+%"PM:>2P!U3]&+VKTS$7L+_E4"_S01H8@)>Q/^5%!4F MP/=FJ".8W`\?+"?!!:\S'HD.DIOK6NP[#3?1E+45$]8A4DW1=<@":0S@D\L3 M-^/1=<@]BP?46:)Q@S[?TM#IR\S8`..??\J`4F]W5:8YBRY9,`X?XJ#Q,`VB!XP`!"QPPF; M^B$[PV5I/DG$*S]<7!417'HID&\7,,AX(>7A2^DHL-6/602^&-F?Q5F91-ZD M,CMP,U.S50^I0D!KRVP:>O2G&H#KK+>[5#^)MS9K^SLG3N9)5/YSQ(O%AN\E@FN MC/3,9<(7\2N0&;([[B>EA#5=1D!3G.U;RX@OI7W;7JDH/.',-Y2%[3R[;A8L MR=:8%UGU9!>7>$1LP&_N$.,47;,L"ENAE#1W7R MF#=1:PQ",\\I#\5@`QA%6J1HX'F0A4%\-&4\!GV_21_!_MLHF2U]5X3?).VED>M7I%'\$U5(""(5A60 MPL[I&AQR0M0Z\/`AX*%@5[:$7?D&G8OYY,RFB^L*:_%-8%WNJY:GL5RJH:ME MALI17X#NJ^Y[8N-^MJGP"J3L<4_3;.`^W^N1LL?]RJ[L^FJD['$OLE/>SCSL<`LB?A@(OT/A/$ZRQ\5A;HMCMFKUWBTC-ID.Q4YSV.TZ5QM4RA M2@'3$L:*5WM>\6YWM1YN9JW';P[U%T@?>]KM9Z3=[;-L=VD.YP#])WC@O4/[ MSR/+\2-(@<9`XHD#IDU5%6_9:^=%\G]SXH\_-!IG5Z?C/ZZ'!(_OD>NO)Q>C M4U)K'!W];IP>'9V-S\@_?QE_N2`@_T0P16%]=#2\K)&*$W[C&WD44,/.ZF,C M+O1LVK%=(XW&WV;Q1\3!YG?XD10^*]1N8QK&YR&=(?-E!]$J(%'\Z+!/M?.K MR_$QT5I!3,;<91&Y9/?DQG>I5Y71X3;-H*'CZ2*?"N M$?'_L`85\WM,/-]CZ?,X9+$UQV^-X,O^+2..F0!E'3Y\TD>ZCP M6!$V/LI;BZ_!3@D8#_\Y;HPNSX8(`2(4[CV+*.H&'[U)%.P#Q>?QF+GX4:3< M/NY]$RSTC1])NMXC$)6-WMBZ&3I7'OE"(<0BNEG'L\I&G=PSPD3=OTVX%_N$ M"FNB.,XDQ_UT`9'FBT#DGL=S:!WA?B*A6)E%@B3$A_F8(F@T?H2_PD!*PP)`2NH>&&17P1RW3\R2., M\TA<%L]]FP0L='FL#H8[]%X096,\:N-@$X9(U6C<`(`-EX9_LKA6X%\$;:?< M$\PF-XG#2%LS`6,?/--,'/Y*,OQNF87%['@.9V#%2!!$$S!C`(3B05UFUP&* MJIY0\^!2FQ&;AQ`O.X]X(/WRC]LA^?+KN$[\4-#AH^\C[(%',7:+Y<$H(E$% MT0F7N0W/@#3\4\T139N[]$\6-LEM,OD7C"@F$Q`':7(CP1@0)>G=Q#3&!Q5AL"IC%H`L`,0+4,P'D<:0D/"-% MB)G@1H!K=2`,$AD:!`ZW!+@H1HG!AU,&[(;.,)5U$B:.:@LRE4BO+[\CJO(M MT)'S%`@NBLJ26!,\E@]S&@`OD:U<'+J1GJ%)?D<99(`^3.[$X7+^4Y`X5PIL M4B6R6?=2UP"$-V.4'2P-QYH;#;-[_$;0,HEY$.JOQ@9"U,Q19T)_0>(JF,& M"OFCWC1S2SH0F"QBO2A74A/1KM`LTETP+TO#='*##13@)A!(-[VCW!':NT(0 ML_F&66/DO0C,NA"8Y;$$V*D(7!HR9GB'YX4*(<2'11QM%L.`H*8')DB'AD[& M75R;(?D:E3#/GX?DE`8\ILY^H[7OGHU99&:TA";I59'9>@XWR1A48J$-Z-4= MMU,-!-?BBL6#J?H0KFI'&&1.L>8J(IF@5; MTEF,"ZFLO`+42N;K>_!;AR6B>>0L`SP52*P2AGK)EV!4;8<0+]O^O:<"I36= ME1CU3!&OY'(BJZ"KQ$6(9J^UT#[Q5O=8Y<$$A3XH5"HZN>R54>H,O]!GHK6V$VJ3T$!F@FC8IOQ!6D)Q1IV$(N?S%@P!A#]: MJZFUWV%L!>SV$E>:Q96"-L>IA)G)#LXFEZD<$US7=U$CA)1,QWZP2PC`1*4*>)/4X@ M?UN@.!:"2I7U`[KL(18Y*NJ,IJ<-BBL$)2N2I84?/I(H"].< MQT5+/P&C#O8C09Q`/<.8_P$!=DY@6`EU9A/X35> M=B)L!GI-Q_'OH^.]ZL.>\YU8I;P"S=]'9^-?CDFG]>XC`1$]&]XT3J\N+@;7 MM\-C",L=AP81#+,Y-5LA2BQ(;2,\Y()W\+7D]P"#;O4=[/;,^U2S1."3!YAQ MF.+_V_!F/#H=7#0&%Z//P,2)'\>^6VAIIRT5=2=7X_'5%VCH4,@U-"`(DBIN M*ZXK*'*\O9$ML,,;M,3,Q'8%MM>#L[/1Y><,74!TO^@LB$LE4@?$0I1-$!P/ M:]40T_S43VK#O@O>'L7AQD(-"CHX_?7SS=77RS-4TJN;8Q+.)N_U5KNNFV8= M_OY0)?A*Q;NHXB^;H91Q%\-SZ&$VV\BX[=F!7FWU["AT-43W6PN\PJ6]P#F' M3?B7^9W M8?V>YUF^I30]#^/74$VS56^UUJCFD^+Z/2OI)FX0*6O0(1R0R]L2UU=0-ZUNME#AUL0Q&XC7H:C< MD4@)OZ<<]B^"XO-6QK+UBSI1FWIV>NT#KGIK[7I';]5Q;2QDEB\.4*J5#XS, MQ28]WJ(IMNN%-Y,7W\M[5D@T9RRNEQ9##H'PO_)RQTLSP]?/;])*Y@!7[&0Q M@N-[LX807=R%>C+'Z+REAX>6'O;[F!YVWM+#`XFW+TH:58<1HXA89`%6BH4E&7E;ON`Z!*98`I)OF9,H$<<:[)8!IQMA4Y1J+ MO2#_G#!1729_O$$PD[!8(``ZW.4XR18/K<25O^4F3A>@%,I*_1AR=2:N^L`BRH"%\6.= M<`5.-L3"MJR@.DPO:`(RDB@O<<-C#5ARJ8KI5P)_$[%-S;*'BJJ.A,L*JV7Y M$@:-BV/E:,GR*EERK\Z<"P.GSIN3=J=N]MJ%`OM"[:(@_W^,_L>H7+>.AUD\ MD"D\KQ*Q_-C1CUJSHXGZ,P%.FL-L5)1[U4=6F[DNN`E91"A.KN1G:2Q@!_`P M5"_$[U2&:.5BWK"Y(^YM5(5KH@*B8B0+KRF7I9`@]>HX%\"1IXC4\0!98S6E M/"1W>'U/2G\&">NY@$_A3#*S4"0?4&XW`+*EF%LZ;T!E?7&V&`D,0["V/*TE M9B?W%^6FN:^0-5ZK'(1TQIE1VERM4+^>.R'H7[83Q6,C@UPE M\N)F,.I!]A6\""JY.,AVSW*3+XS]R>#F;(!!Q0!,@4/:LIP3M.6.B^E/A&'! M(D4\J"[.9&$],6N`S`?2>:6+-;0$*WF46K."R6;T+3.^9Q_-TG\AX/S&Q[7J8NPRT@)Z_7 M%`8R\;A%95`IC@N`DYPFH8C#2J^CC(]8'*YX660EE_'9-,'RU7IQ[L%(.+9P M_F$LH2!X)HIY?4NI,QIGQ%ILB+`IQ6E=(PGU],BJA(U;'<4A5<%J'O!;V<\G M916X:(VB=6.HTZ)@E=&0X!&K,(UFL'TQH!+#"A18RQMP\ M2:VQP+L^HEV0'6A%*;CTC(^<.;;TIW,..BV_3WS4/ORASJJNNO39B&LHG7:\ M80E]T2#BZ.#WO1E+=5&.K8C;`AL4UC)M`L$DDLBQ!S!;@>^(\SJ82G-\\1QT MTY+US8X+%$KG5XXH*N%31!5'I3,0QRE9A%HDYC`O9I<9M]1;3-_Y0A!ZP`<_ MRNC\T&@,/;M\]89H4KRL(_U2N&MEVTM-5MVD<@VL&WF*:X5;H1:N3EG5;,_W M^^BZINEFU^Q64;X*ISV2NL?K='2MV^MV->TEI()+M=#\55\PJG[+4Y*[45-U M:R#>\:=WS"5Y_6^`RC'6W8O7Z_1(C-L)V_\S0*PFI8H918H:12W]K:V;T M>AVC?7B\P-NNV]W.2P6C`L:ZGZ@U>OV.=GC,T"L)V5HPMF.&;O3[[0/4DCU= MJ;S,`%/O];J]PV.`WGJ:`6OE8%,&&'K/[+U4';R8R[6N.Y9?B"-_-(C9>%DZ M@DAB`>%J.J0A'O;#7X83@Q1^=F,GD/8G/Y5796IZ^NO%.^7'H;-X3Q):S6+M M-5@LMBDDC^2.Q9Y_;:MM=-L0G1:($L-N@-4^;Q/M:D9?[_4WP:IT]6GQR;XY MIYF]3JO37L2Q^J;3IU'=)SO;AM'76KV-4`5KRR/\&3&1KPK1'7CV+9]Y?,HM MZL7J9E>0Y&O?X19(?/F>RI<`>+NR\EOG]]F2KIA&7*[$ MHXDMMY&K2PBFZ>*'O'!.7CJ@JA/D0E%Z*PE."#@/=X!U'*Q.1I[5S-;7[^>^ MXSPV_'M<;,3%=G!/-`0%:Y(!7CZ7ZZ!7)3T"MB+&[Z>3V0^@"A?4;MK2&YHBZH*L;LV`UI#N:5OXUK\W;_V_O79O;UI%UX>^[:O\';I]954F5)$O4/6O6 MJG)L)^.]DSBO[M223S?\-7_J>"+H'(3!RD`^#@2SZ(+F5?.)?GSE M,C:!*B1XBJ$0'G3.P_9,EX?JL_SJ@=``&4Q0B)>^>#\MW(OH6,8;,)B/E(:I M'XK8'7YGQ8'AIBRPTAD?6.$8T4>>PUP&H<=T[:@S@3!XB7L%)!*(B/#E-NGF M@&;;A@667(@I[:[AH25N?YS M)BK(F6M.B402.32\_;6\4<:093[YBLGER45=WNPAK4I`P539A;FWGTAS)LOF M5.!%2BEQ")K%IANU)Y;>6O)WB:>$OXJW.BEJ2^RB?SP6WOFD7`@E MV)IMX-V=P^%D+!NC]2+"CD*X5('ND_)4B`"_KS.@4Y=Q'--G#.F#I\,-Y#!_ M504H"I;W,A,Y=J$XFGGN^OH@G@"15_S`;5@3#QPD[&'0 MC8I"*#W^#]A,X'SW%_.X/%R%YMEKU, M7"_\`&W^EJ.IF_5ZX_Q_OWZY'XS9Q*KB!H![R)EQOK?!%6JYF=U&0ZD-LI20 M[&@NX32'6<9_$`O]R7)QD5Y$E^(JF8JOT<@V>K)@4[K?;K:ZIN)8V8BHPD=< MY+S66[UZO]LOVY";&PTYF>3F-D,V>]UFJ]$HVY!;&PS93&>YM=60N_5&6[T` MW-N0OQ,@-!A_"'W.X-"D?U>,//^%0]YR5/NMCME>*_+YA!Z6)P>[^&AT&[U^ MJT"6X(D^R_KG-GI2.^*.K08FCCB<*%)PZ8,R9=H9MSVZ@.0EN3M8RDL.Z!F1 M?4.F,%6MH&"M7*/W#\:]-AAUB?X#S1,H/#\5#!E#/Q%%R49CO$]*'$@4-:QT#78./,QF2XH@'*'7A!CP.G)23P<,JAF6M< MYMI0D@*FGT4\SA4LY)!G7(7Q8)SM^0037W8TVC;:H^<.`/1EW0Y%H<3;X`Z3 M7:]%SLEW3#E)?@S%K]RVV>5%KN&O*0JYS"Q850<2CLA_@I7^3YE1,E=[&A-F M%"[M0/G1F;9A<>1ES%OQ^J9,A,?K;XN)R\HR;\C$]@Y,;-34Z^FWP,1E!:$W M9&)G)R9VFF^+BY7:87IM<6NA,_CC;G)>;M[%7EW%N M/%Z[@YZYWAJ^;4YQ*5FX-X?LS\O"@ZCSMUMO-=NLGXVX1NGB^\,Y%X_X4 MW"U"2<^/=FZ:3;/QLPEO$>I[+GN;W4;+7&?[G#QW"];K\P6W7N]VW_R15K#" MG\M9L]TUN]WV3\7:_9L"N:QM==J]@^ZUMPH`W%+.*0_Q\9D-LU]K]/N]FMEL M]ILU#*[A0S;-MKD9A]:UL48&>WWXSSIC22&\(%XT=^/%G*I^7%XDL"0A7C7X M%`+&/`P`R\F[YYS9ZA5]AUR".V3XP?=&^"?!]K2,JJ',(K]75N>1HP8E+YW> MC=NQK^OO;SY?&%]`QEA?L5/%BWS7&5#:-<.0(1/YB$F7+"E/\*@KBQCG8B$6A+_G$FZ*9&5HT M$Y3-#ZE8J)RWNM(RA7X; MLA0W+A"!B6EY25J46$@#C*H;.EQA2B=Z;-G&8\`L!"XV!B(G1.+,809`!K3, M1Y0[%/]X.O9=:@J3!08@2UP0IJ`>``E^,#-`UOWIE+E+A9`3C*L;4PCB,/TU MLQH%WEGZ:YM7`<<`'H[1Y`\QC>X=EN%F0X+LDF/&'I0%R4&+_Q7;=-*_AZ9= MB85,V+("PS5OG?)\$_XX]&C'`['F&W5*A)#EV)@2_A: MC%,$!8J*KD>1'WA,Q4@=,I&Y@0E5T-RS$U$Z!GZ?)+I->-HC;F)9V$:SUDJ& M266R9:H6P55_M6:$)Y8CT,2(S/35./N@`V;Q01%LD?N;L>!6Q&B>6[%ELOX]8 MZ6!>'A=H%YN>#%3D&7\39G.<8%JYM/]MOC;Q*U\@=')(7#BJ<7L5\IP_&TK# MXBSAP8`K*!\S)(ZO4S]`%-=@%&>*L=,,XSMB2'8<2!;Q:O/_CD&O093N(>$( MV"Q&B'.&@9P4K!F3=:IPKKSCVQ@(7;W M"FGD,\CL+.&6)'VSV:1-Q?,)HYX%7-NT,H&8*0YZLK&GP+`/7^<086W*^/1P M8`FH:@:H/#DNQ#&@-ZE-T8@)9/Y930)%;$AD]R/+I.'C9N"!-$S!."?4>@$* M:RG?V-;$&N%RQ/5:$6T-L(P"B8,%XA107FR2:KIB73W#D0F]\D2XB(L\3XX6 MLHB9LP&1X/&%+KY'#266Q@YM?M04A?#2EDJRHR#\)L>FR*)=)=B4![K0+O(J M'F`T\3!V*05W&24]VA(&=V$A)> M+EE//1^?$=O<(^M2)BC"3JH=(%N3\YW70@GED2!CYGV/3MTJJKM5+)0B-0V> MOD!)Y2'W6-+Q:F$ROS40ISVJS[#28=%[(CZ?'^$*7C_/J4^G,=N^4G`@S9>O M#J\N*BHF@8HY00 M2W@GA7L@Y+C?->."0`%`RO`V1-S*JF`!ZV/S(TFTWA=T` M&Q4A#8C>QYF@05!$:C_:.D*QJ:AP'2FN@@"+3]$N4H0&KH[P"1!G.MHX`=+` MBP#@Q&^%Z$'L5!$]RB#5)5MDZ;YUQT8./,)/`W&;F`"QZRRKG8HQ4)U:CI"- M[L>5+$X1'7CRDA\0DA%W2_+4H,0/\]^QB\9?O8]*RQ,J,%/7&O!F:$>#%N`M M7/4>H5&HW@P9?;DLHRM5+:`3[G".GFFS2XE7<5P$E,5]M;D-*(78/Z%)89*) M6C*D^+FSQ,S;:"C23[*,QA0;1103L-/"(J0X+93RDEE?PEK,;S8M3H+($6Y: MK86@2-"?]II!&>]D.0A^$(0I3X59#]L;%87!=HCUZ'@1.SA/0>-<1Z65MFM. MSGN%'Z'OVOR87"2*D-S%U[PW,`%A#+$3CJ5/O%&'K=Z-QE0]@_-J;A1H]#F9 M6FMS=7=(T87MWPD(S1X`G[9-01DNRW]"\AH@6A%*8$5MQJY+< M$X@$QF2OJ0B32Q3U$&W-.6[^9&PJ)#C@3C[RQVRS/N2S5'0\E>@Y9S/ZDE): MYP66JT=S]*)^D1W_'/&XE2TE-5,[!<60.=Q1"51-2!D+C+.I,QK-JNBF.#,> M.3!@@-54QUI&-R3G1U+K);GJRMT0D^(R&VY!SM"PAO(D,3V.]@321<*7(!S9 M("+OY*6EY4E?F>7Q\C4DDU0]%38K+$CF^/9[E`5."]X6A/*B1!"N2'"`:`B6GY'X3_ZJ,P0=&,+&GUCVXD7?DK?>6<;95SRAF$?&Q2?+<4%NS]Z3!3SU^'`LVA`0!TX4CA,^3'&_@_-##L&7.:2JMHDA<1F0Y^ML*F24G-$S-5#H*#B.QZ"F>&JG7[[4[-;+;,7JU5;S;R@Q)EI&:]*R&?\*UZ[GMK(OP7\E.VI?AH M;.INSJ9>RJ;N3FQJS8/J[X]-WZW@-B"(2IMPM23N_CQCECVW;]0[R@`E)J@\ M:)W]#D_6ZXU<%BRCK=!![Q/X[B"#YA)R$8,U'E"5U;G!SO]>?')JHR[^DSO` M>7KV.K"]S5[Q`[L101IY@^*_'2"-N-GM-KOU]HKQ<%+V,I9B)Z=M-NNMEMEY M[5@6,B)6/%"*&5J9Y/"JH1U]PC89F@)[.?=EPD5EY]W(D:#TYO]\I``FEBIIVUFED&6F-WH/QC89:?5;3>:O8WIYQ%6-P2\ M_V"]B*I?'YG'A@XOHK/ZD4/.C=G/;E`K"=O_.`\VA_UNJ[G;,*_8(SR(\/MH M)A(J^?T40>=OO;];@8/F^!UH?`T:\*8/\VEJ-EKF"ARZC28ZIXV$#=,XJ[V: MI+TJT[TIN:LX(B&`E2IIJQX`BZNS"3B(2<.L+SR^3I[GK==5M*P:EJS'@>._ MEK8-"3VX0^>F3.%VSL87:0R=:HJY`0FU.YBAD_/&OB!Q&:"^@K6B+].4\5)@EY./P=<^EBR"%M M<;QY2,PYW^NP6B@6!.MU<9AI>3.31H=8 MF=A,*RFB#K0Y=M7QJ@/>APP"Y`EC=''_&!';:2\5]SF)Q!JR'A%%"@QY(`UZ M?HF@[+LHZDIU)NB`@BSQ+H?*ZLB*01Z;*QBD<`R=CX^,KL+D-FE@(&9R&2Y' M3I,9AS)6*(VA2!(;)BP:^[Q6%[DT\PIU,5GI^)6%N0J_ZNQ/HS)0<0O.G MUY#A5*\R4-8\2-< M0]7!AE[D]4*CTVGN<>S+QWFXZ6RT^MUVOY4WJGV.H,AB>]U6W6RVBQY!@;7S M3'RU7R]Z!(66PNNW.XWEH%L[^K4:SK_4AKH.6 M#TH\<*0#:)&0/8_I&"=+X8,ZT)(ZXJ0=9)'M=P*_^=Y@W1C39XK7$-KM;F?- MX%)R"AE?D?I#I]=K=\WCCN]P)UL9YO(PY]ZKYO7:"CR$?Y3!J7CK/P#E_LIQ MXT@$`JYYIE!74'[@K7GV>Q4>5527-306,>CBO$D'&73>5>Z:9_2U[A[O4>8O M:FGRZ%)(BN$W%AE?_#`T8#H,FH]#HS@4?AD[SP3N]3?>8?W4]YA(Q?.V/J@# M3ZCA''/R7Z&D)7\R)4X^S@R85L?F5W_*M1G"2F8;$#@OSPSSK1%\"0'31LSP M"+>>HS-@O&624*9$XBK8;3P'K,(A<^G'F#*U&>($A'BA&\G+U\-D(QYH*C_Y M:?X;\$KA+V$JI#>B*7(,ELZMVBCS<&15#%M(/Q-[T093BJ@R2D_KIS!G[N0= ML3.9(JR/2!-6X,L$@=GI3XH6(T14#AS'%'&,`\>EA$)^U>Y/!;C-4H$@6I;< MRR\%CTWH2P>`;$F^3D>2E=_TTIU0?3(TKB($)\-F',B83X<0%ON(.:0&Z$S<5PK<"G3^Y$VM[GG58S&K*"N MG6\1VU;;JYMV& MRL,RY&`7PE6SHU9S>@5')E/7GS$&N]"3,V!2[68:T7[2MMSL5Y%S:0`\W&=SI$X#@17^%S MC6*G*+?+O5M\W\U_]+\V>E<'F*K<`67G[Y/E!)0SE:;WAUF+>.43VAX^=ICP M8FF@IE%%K([`X-EY7TD-53`0=5&@'7#).+*7&N:+Y57&+(6HFV)!9U%Z1>I3 M`HV;@Z-@Q"X&AR`&%$;^DNZ)(C@D]")7N"IGB)H'S3H1;S*I>Y-"P/B('!." MW6@_6926X<>A*#]#/5'@KNPJ;9>`ESDH-&K8:71V4D1&M)$`-E)E*1YE/$G% MB"*.EV$O!FSJ8TD)'IN#FJBK7)/R*.P@:<[&YA6F\JAAB^NX51FL__*K\?'V[NKZKGIY^^7+Q??[ZP]PDKBN-0VAG\V'LQ6EQH"Y;@A& M)`@=:E'T]Q0#]/G?*=&!I/COUW M!:F]LJ.?(F*L[#S_)HSHG0C2H>WHD'14LD8D"AS M=(=!8_Z5RHZ(Y$"2@>0A12LB4'LJ>X(HO/ZC0!!\G*D/"5T4=$UKWA.IMVB] M1>LM>LLM&MT"/Q9MDW2!AO$433>^$&'OB?A*]7RY%&F)HR');PKE:TH5I,@O MW1:5EYJ[1/E;9AN*TRI,"L/A1HYVZL2WP7"K)&FVF)(JBW6("S]1RK9D;*%; M37'J1%AQU_EW+*US-&/5.(*#7M2SS@\GEW$\RTKOI_<57(1<3!=[OO!E2&# M/YXI#F2(U34PG3WB-80MSW)G!#[/K^AWJKQXZ1CV@2SL.*,B+ZD<<+Z#E#<@H`8_2CR)WD6%=)<<,%8\1H5RMG8J)+&S\?;AX?;K]`>-E<03_)F+YZ`L(0*G$)8_6B[B])T$0[=1#$#+OKC\ MG\]WMS^^7:&F?7L'9__H\9U9;U7,=KL"_[Y?ICQ@&ZY=T/`X)L_J>P5%>]GJ M/F*IUN.RX9Y:VDY_*HRHXU.@V:+9>VV^3QV(K;B*K754NY2,\?$/*'% M'APW%)3./><>YB2Q61*(&GMV:+QKO%][66HN&\NQ=0CI04K]1QNI$\6S_2_K M::YO232MCV*I[E1:9J_2[74WXG@)I'L+&=$R_'/(<%7+KI9=+;NED0TMNS^' M[+XAW>$0+I5Y!I@\#9HMFBVGL'6 MRT:EU6]7VMV.EL]CSW8YV*CELU1J^U*O:RF"$7B4[`&4\(`N-X:DQ$TN`X7G% M!HQ*I(M:RJ8Y=,X,DI.5(EG6:-WYL5<:?3. M0$A*3=J'0Z*[(1M*1H23DM2='XG1J_L^R73*4,$"N!4/\4J6A:'+4X:G$L MI3B"BM/K5=K=;9.PM5AJL=1BJ;$YBU6\=22-#O$JY>&B!5,+IA9,+9A%:3_= M5KUB-MM:0+6`:@$]+C9G,H+Z].570WSW M'3L:_W:&@***U;'4<(G\Z0HQO$KBV_EXFO@QQMOX,8V&!>.9PRL M<&Q8GLT_L'_'8(RX9('`C]9@X$^FEC>#`1H#W[.9%\)K\(GL63)0'CEBE1&. M&8O"VBX2LNW\T=RAW/!_:<1[D.OI'BG;A9R+$"]BOEI@YTF$T!9-S0)N:,6( MQLRXY'-CV(X-[43&V`(;$K^(P#X,ARP(C4<6/3/F&0((DEH3<(&&13*Q@ MAC,-YKPW8K30<#J'EA,8L/ABAC\J$TR,^#_-_J^AF+NFX:8QKM@R/1V-`\8P MB38:AP;S<'WGR!**SX?3F_.?%;?YN+&87`860`H-B5*8M&]E$8^+IK+8T?WP M`F:Y(`SVB0_D0--4(H#H@[)7'LMI![#3GKC(O/ML.5ZX`I?M%$:1''NEE?#5 M]T12O,)!X$PQ0&<+]N3;G_RDR;(.22/L4-EV_2-V)-]D[7RU) M10KCJ[:5!;$4I^->S;6E8U`[>QU[BVFW*'I7:`HM,XS,@]8]%F$8 M4N0R`ML?,BN*L6,8T+D?(">`!?"'%=CP7>14;<>-"1I@&OA/3@B?@+4X?`M> M@@TYC-VH0I0%;.`'&&QD16H($_S%+.!=)CS0P)!!/KILM),?!^EX'1@&@W-K MXG@47TBLY#%2'_$DK=X/QKZ+;)L*$AUT01H3WV9NS?@1)@%4ZQ\'\O\=.\@* M?#[FK\:>_QBRX(E\K8XWC8&H,(;!6/PQ]C)E`SJ0@,@*,6S@3.F(>O+AJ,+) MF!&WDB=MYPFFS[/#FG&9AGUAL)X@U0K#>$($9LX[HBJ''&PLY M*,C*S\N&F]=NYL6TW9KBT3-&&,U`Q+IDK$LY4@65=@.>="="Z4*V+"N/EJ(+ M<\59#QW[\'R`8_0GS'B'+/%"]EY*BIB1#($KT#:P/5@)L6?%MA/Q2-N\F%M8 MJQ'CK^#BF0)O2')..9CSL.1`SVR"'WG]5^,K2%(<\%WL$T[5W_E4P1I%Q!38 MY.(@P%WCHQ4Z7-WD[QDH'&/XU\GW[V7'=RMS)0W/FJ7/VB'-& MQT[(1"?)T37R:*/(-O$\9K1/S.@QF\%:D^\9`9"(XYJNIF-VG8;_W#O0Y=`:PLRIRI(KD8.#'L.T"Y=]AR0^8 M*F_O:[EQXMF(\+&%$>%B;Q(#AJU-511@!)'Q#`J%G(UY'BQC8RFD::EP_U>U M>NW9GP)KA')2K29+%,ZH5-D5?_SU/`ZK(\N:?L`E3RO^R@D'<%2@=#ZPE^BC M"\?H[__Y'X;QUX5'%9QAN7O<>G>26[1/_%".LAL\R>!GWQO`6[1?)SW`<0X, M+*#A6K?7Z-?JZ7\Q#@>V_Q=X8?C;V3#P)U44GVJ]@?^+?/%7L]IL++P+;_\N M>'QU>_GPC^_7QCB:N,;W'Q^_W%P:9]7S\S^:E^?G5P]7QO_^[>'K%Z-1JQL/ MF(S@(%66>WY^_>W,.!M'T?3#^?GS\W/MN5GS@]'YP]WY"[;5P)?%QVJDO%FS M(_O,2.=3G4[Q69!V'UE!E!6`O+OVPK(&=![`W/H^9F2_CM77L?JG,1`=JU\H M>W6L?DE'H6/U2Q63K6/U=:R^CM77L?HZ5E_'ZI>!83I6?P^6[7:[H8Z^U]'W M.OK^K3"X)&*MH^]U]+V.OM?1]SKZ7D??ZRAO'7VOY^6HOB\=?:^C[W7T_=N- MOB\X2FJ/$4I+@JMNAY\<#PQ7QW)OT@!9"H>;9:.E5CVIPY_V+U.N#%-,V&XH M?"?!.6!D;.&QKKR#VS@PALEXE9#MBDRA0#/>QEBK)+<")%D+(,+=1T0G:2$,'" MR)G`R<^[_E=LDTA!%_<8ZBZ2-I9H!&7)6?DU)Z)NC[DFBMPEG]:DGU2/G7Z2 MA"Q8X^OYPIOG`8!Q13##RS'+>`8.""#ZY5A\7<2>0'S!EYEU0I M=3"C;=P:4);%A6?3GRY/NN!OS\7R[OJV/K&*/+'XK!AR6@QE(HH\N`YT2%', M<>P-^`08`SE*N>?!-N3"7\^XTPT%*\+X$?9HQPIP(W9"<:*`)"H-Y&YS(F^& M4JN4O5STE=L\G@F1X#B=BK#I__`HS^D^HH/&QFM0A*V7^S![$1E4`3^((KX! M>K;<8@-&-8QA/YT"9WP[E]8;GITE=T0/3[^(318H$LT_,[0#\.\G!F+)YJF` M0^H)=C_LU(XI,V(-)8J8+:2;93A$21D$X^_Y$9R8H!^$OFM7Z*D(-WK*@7,= M.#1X)ABT0%D>SPXFK3GAU.>)ISPWTQH,XDDLV2WR02@_E8V!#700^R$J,?2M M[^%!"YRE4QW$!0YL)640CZIH5C/D,DH$+%HR/F(O)B/"^9?M0"5L&54X'9L4 M0Z@9RO8J,OXPV84G_"$-CE+O(LK3CU#5P.>+2&[96F?=]8S;]O>7">?E=)&!]=T'\KI,$+#SD-GMTWR<:J$<.?_7'_=499H&"ENJ&&/+P M>[O9;Z8([[VQGH'RR?&\T,-YH)-[)-+7+C9>)ZX0?H MX+><,]NLUQOG__OU"RBD;&)5T0#`J^$SXWR.!SS9%J3FPH95XH">1$K[M=P[ M1;8=4?9J%(*P9?Z`*_.0` MQ5P;'F#KW#`@$T2F:X,2Y\6DQF:U>3(;G!`-CQFS`M+U,`^;(9'P?Q[/85:2 M)0=.`%HD/\3P"]L9`'%8-.$ M`=PM)]D)Q=C01S0C7=4BQ1^)GEC!G\`QSKYW5I@F5,.CBH^,6`Y*;^1,78?_ MBL/W8M)FB0,1.;2P80$,8X72T%%L'F3/>^DQP\EZ]/T_L_XMJ:K?#!=)1'%@ M=D@_9-^N8-*X=/%8L+)GH1/RP9.7RJ99QM&[C#3W.!"SJ?(3I24,)T+33W@( MFO:"ZDZ3K/C?:&JP=_0DADA-IEW.`$O"R"A`*DC)8QQ"(R#H=`2RT0S%Q;)A M2D.FBHU@!D)K<-F%C[%K4U<#+I)JK\0&X005?$@D?.0YTH0`X5+>@NX"-!S_ MC;P1,Y4N0T(&L8*`RNJ)>4,I1S@$Z76U54B3HCP26VU3.]HE&Y^'V4.7V^RH M7W^"@_#21SR$&/AUFX"=?&3H9>#//5@O+/SJ>'X`8G^#U^[`1^I1;>6:5L57 M%HU]^.6)23L5C^T#]G=(Y;AJFF:OVU04Q@,.]&>:T8-9`%6S46]T6F9I9A0: MS'.!+_M1J[T%[N/"TTES_$:O8O\@MR8"Y)#_5"!O13AB`S6`D8138U'&.PWZ MYG0:^-9@3,AC@W'V[FWN.!_&>-F(S1J/H(,.G44$'7%-*%&`L`[K<,C0^<;2 MPJND72<7QZF/&"FCQ@G`3&AM5JY/O69@XI"Z"@.^&8<5T9 M]#G4,9`84#I`88L'Z.T$JN@2%OH370B5Q)H@'T/E1I'N:65*!JE[L._X*5*2 M8:D\,7"UPF8U8`%>==-/4U^8!,`@!$8:"EW\+$\9/TM4ON0]?#:,0VR/C(_D M+@"G(&*#L>>@C3`!$4&M'6_FI\+Z#OFH):F.V-R(H5,&2U;.VS**"=PPXZA. MQ4M>'93"1[ROQ72S,#Q2O/]B]BO=>IL8]Q?XV&JJ-QV;`\Q4$*X/1"4@%V\\@5$6?K=F/$R! MG_BKGSJHXMMI=YK=9F:DJZDK:LB'TPQ;]6ZG7<20[^!8<9XV&'7ZX$'GNM$R MNXW&1B-/*2QV\(>;]7:GTS7;>Q][$#-;B?,$"^$6=TEA5'@CY;?E?-FBD<,* MC-EM]>N=-4S;@OIR,O1@0MAOUWOU^N'8>26T@SMT#,?+%N;<4X?UNW3[K8ZY MBB-SU!4UY`-N1/5NL]W8XY"_@[UD.;9\2UQI2KD1$4CY?-CDU4/*0Z/;Z]9; MJWBS"<7'9]CAI*G9;_56;M#[8-@/#W8<%P52GHS+^)/SY$'WDW:KWS'[J_B1 M0V'1PS^D:EOOM%8J.1L,G[L#N,DCQ.4;B\2(\W\\K,G2[W4S1T8^3?L9UN'F MKM^OUWN[#NL[+/',4/"+0\Y*JVGVNHO4(QG;47PPAG>ZS4Y],XH3QWX.`+88 MPZI'>"R0V6CV:HU^OY<_MF4!1#FOK1I4"Z8A.Q&K*"M@H.;&`YT+1]INH-V^ MV>O5CSG0`H/!RC"+ZP>W8SC9JV9NWOJ;,^2*G)-ZJP=;8DKV4CML#8T%LK;? MJS?;W>YV-((J>*\$LO,KS7G"K[<;(0]JC^5&)KPN>JV:KTVZU\R5/4/`*P@N<@$ZWW^[W\F5L">$>NQU> M@BGE1)^L`=VWB`<_^D%`E0PN+00<3"1L\QZ'6[7>:&W/$)([4^4O;33W/^,MR.]"(/ MW=>0_A6SM6FSN6-3:T9*$.;(.![F*KLWWC^8%3P\^PMCV_3%@N>MBXNFFS_X M34G^.1`WDA@!L\IZ,! M"XP&5"K-&C2"L??$:/&9O;'V0^8E!M/ MX))XHPN,EDM]+)L_?M#KS&:WVU+O8S8G\W#<.-P-1Z?>[#0*8P9W(V[,C)S' M#QOYT*^WZVN9D4/EX9AQP&2-=JO3*XP92>C,9LS(>?S`N4C]5KW36LN.'#H/ MQX[#I?)WZJWZ^EUC$V:DN3MRO.DW!Y[A=J_5RJ[^E)1MZ3YD3E6CT>RU-Z3[ M.:W0#+/E^9A.H`")Y9E"V[ZD[:("[2(T>E"?5^IL9V;DC9I"?S".+<5X-A': M":ZKP"F&QH^I35!7T3CPXQ%/L[!Y-BVPVFNHAN(RH?8WL<&=*H]ZH]]7`ITW'1H`0M\/DX+]GHS2K>>FOQ4O8ZC5:KV5>&LD#-KD,XF)!UVYUV)F9P MTR',:5XYWQ]6;P1-N-?IY(QCF1:VW4@.N>K[]6ZSMW,?0'L<@"M[E#'M55 M>!ZSA/'4)Q6)!0)Y"3/]702#(F2J/$18T6<8/_Z+(>:/+P#:`R?\,P?H"DA8 M3IP`;0U5D%:>30T3%R.^`/K&`_56P4YO%7+)>R`(I('E83:^YR-!<4`9Q]29 MT'QSVT/P"8[O(NP2=&DS9#^])^X@6/#D#`2, M$TY.$#EA"I49!P*K#H>FD(;XCK)(?X4#8(-R(@"5_1]Q)BZ^G8%X!SV4# M-A/-4T3X6')O)U?)`$'>N(&=@!B,?.@`P?]=CO^%-W2T'HEG8O5QMN+CG_#N M$3H48&9(:8`+/A<8[`09:U1$6P\BXX"5:B7VO+]RH<\43> M0RM7FN_R+S'Q_4;:+R>3+A1%"(4*VD#.AK\TT^ZXV'B,8YR0J*J2.("M)8)_ M28+XYH$[QX0.'Q!VD.&*D!E1+4/^8N\ M_41!I*9P-N%4]PDY//`1FP\^)JAV.*`1A[4@6;F_^7QAO$MN:%N9&UH0.:!' M@&_CQ32MA1$#_2Z#!_2>=PN21B1P&)B*D'=_"*Q(01!#R^4(-1>81/(T"QZ^ M5A#5!5GS3F')%,@1`.5JZ_@FTIR]OE:A=L0"2NN,X>$7^>_E*B7L1]XB>8!` M8F"%6<_DJ(I#DE+8J>`@=D25,DYQ(,:2P@:*A2%$3PP17L#JVZ@&2#@<+$A" M*XV8O4#&%1#ZC*?-)5$"K2,2X8#A,;D=52I+20[B:""*JXCCE?%=`?\*T^MW M-#FPOHG$D%Q!D8!729ZXCZ=(F'B2*K]PR10"F6`]XIMB6S3NX>3[N_5"&FL\ M30`#03_@QY+X$EGE(G:^!#F$)>(,F+H;BH6.YT02<(`@C0XA-_$H`8=4$S%" MHJ(:#N`$X+B)8K5O2A+L^^/`>C&>8*N!G2Q=@-*U:?%CG;;W%!0>539X%.;< M04`GVCY6J63/+-%]:!-;M)\GUFS-1TXS:N9BUW%\*#KMK M]QM-U>611\*KZ2\R,K_=4?/S-J7_4JV0H*#U+<7]S\+^7R2%&;ZQZ';X`&LB M8<#>FSXPTD]WCIM['\_I3\/(KJFV>[7^QN*[V$&?]!+ M]V:]TW_UX)7$IKS=/??GPG,JS6:_-S>R7$+V.)X"CZQVK]=5P_VV&L_JR[K5 MCQQR-38[\UK%AC=V^QCE`8,5&V9SMW$B@L"-]S\.(7ES:$T;DZ;9:FXU!ID]DX247OJAN"!>]F/.G&Q0B&C7*=I+(:)=QWFP M>6LTS+::5[F,IOQA/?@7`[*U,Y6C0/7)UIG:_/&#;I;=3)3OYD0>CA>'B^3, M!OGNS`L.:)4+9*5F@F[P7-&);_!F2QWQ>HH*'6JA-:(:KJ1V&_V&:L2MI:ZH(1]L";>;+14_]A4#5I-; M,<\^E(GV"X->^N1!3=!&O=_HJB';&Y%8]/@/Z*XPNTLD_96#YS;2/%["QD\? M./X*<_W7LV&!RD.QXM1J:*ICRRD/NJC8;/[\(06CEX$-V8+(0W+C!&4C?RP2 MM7'5`T7#'?7J;36>=!4I>QY5@4II9S3TC4JV=QPF#V>YM@*,JPDOTC+D5R+`A8]UW6,%K\*J MV3#;O4ZSDQGF.J(*'&N!:Q/KF37-;M]\U5@IA.0N#2S)R\%;^Y0.%B0,ET_ M4S'?/Y*22$S$^W)V4-B,K#06&=%LRJ.S9%P+%ARU@@"C8DF=_@"_A%%UZL): M&;(T_H4'B`V=%XK>Q2B=Y)?"XUL;G5H[?^H+8*20(T(C6&E[%!R#Z;3&#D@"7*B M@(.\6J"%`7E4EH^"M$3D,T5V3:C\95J!;NWL6Z&H#THH-#P,>#"$GF#I(B=XI#>.4_OTUAXS`,?#C%6G2IMJW4C!:W9'I=*U!$4 MA`+D[FMVNC`+Q`%)9':&8QCV[+IRI0Y]K,6)0J;4$L>W06`_E.(,C>@4$3W_ M<7/U\#?LNO[+K\;'V[NKZ[OJY>V7+Q??[Z\_D`Q9TY!M/E6@'#/7#1$EUANA M*D]_3S'@E?^=DA%(&OY^??=P6-SMHJV M.[\HO'N,77>?C?<%Y;SR*25#>1@N'#&^K)E#2Y^2-93EC_D4RQRJ M$RCS#SJ-`^4R8@OL3?_JWV4QV%[D.JGHAG,9"X#I>*.$'0:JF5ABIDD8) M*%JHM%!M*%2+>V"Z::IZD+`O\`#'O0P.<&6_Y.B7E/G$]4-A&BDJ)$\!3?*; ME%ZDFD`JVWO:VX4BKNB,M8.*]#%-[1L\7C)S8#-,@J)4.6X[*MI4!MTTU:E# M40T\4(VB!2U>5;PI`6?@!W*'@9Z>_>!/F&D0`7NF)K,F]>'7V'R_"E-L(A(P MUY)#8Q45JRD9-M=$L,+,F(7AC`F98%DL,03>I#<&K>EUGSD"J5HA*\F,+$MP*" M-`(%"K-JWW&'G2LKG0LGP*+;"/:(*:'\26E,LM.3Y+LXL8-E3^\YQ7&8[';K MB.=YK`D,KY+P.+'^9.K^R)^DC]);P?=$,G-XMARN,2<8Q!-^JQE"(S-A-SJ8 M20;*H\A.!&GGN7OH#4J:LWWX/]P('`^1D2.Q;J-QIL\`X<6`>P[W?PG==QH' M4X1GP+]Y/7?X=L:?#IG]MI;(159A5YV_:N;L%.\N'&6>,%-:)!%S_H=9_X8* MOAS.I^A*:&S9"I]>[F=.L\[3Y^7"X!FCO-:L<2'R9QWOR7<&7/Q3S.V\K/G, M/DF>E2%Z,M)5+'/*PS$:1I:RRR[TFK_E9GJ5";XBPSQ#WF;=RX3TO,SUTW6Z MH2=7Y.KBWJ+DP9+%F":M2T%(\2`JI%`E^YWRJO!RHA^7W\7"GGLSY.G=N&7/ M9="N;-=_:78Z_8,R.ZZ@%]&;I7&1D"[ZHA[$Y5B[(9/\""\YC\/@I8-!CC=Z``NEQX M\+3']62X/K;O,3H.;">DC8>0.!JM2L>L5Z0"%-CISD6@&TOP.3.[&K]>(5=F M6(377_?+Z[ M_?'M"L=S>_?!"$:/[\QZJV*VVQ7X]_T*F[[;^N5UWO?M9TN&ZRLFDNM[HRJ) M+F+Z++?\$V=!L11NXN$0I!R>?7]92U.C/4=4@!`;Q5+5[_*#[!&6[UVI=GK;3GM96'K:U?K)HPCQG:A/Q[,)(XU M`X;00$!EW24>I>\4WT6YW,LLZ#VWKLWOO;NY:$I$K.-`F13IGTKN3X,>4=7TU*C6=T@<)4XP]GV@5"OP8C-LY=[[0/=3^]J`6]P MD.]\8BN*[Z/OVIL,LQ#MD/-D6U)PEH#AP-,.D?6P0DR/R9-M5#L]V^MGVR2R M<-\IQ]C?/)^;/^/JV==[\_P\9-_EI?D0YJ[T`9NOZ!QG3%BS4\R/ZZ?4JG>:*$_4@TW,J/FO> MQ6<>W\0SE^R)XSE@ZU-@94&^YS)XDTOA'^9$-)N]2K_3.)C'=R\JH9[E+8DP MFW!PM%8<'`>>Y4.H+GMWL8H0"LJ8#-?X?0KS^)?$AW]DKSSOOFWV*KWN%K=5 M>Q*!`USLZ&E6CBB8YG9OBR.J\&G>Y'IDOY[:PJ,V=W`%O_J:9<_7&\ON:#Y9 M3O!W3.GAB)H7GJV@C'_EY?WL6P\:CP/,O@<2G'!E9.,>6M1W,:=THWB\:,TT M(3P2:6=37GHGD_:C5,(:@FR*#+:Q`Z95,!C/Z!8*\X'2(N8622Z976J1,U'M M$FRQ2&W)]RA_0(@SHE!\W("6+3]G(A5_` M/$H_;Z-%`[@(TQ'XP_1S>H^6?+7S_4N9(ZNT/)9$'OF]PQ=TM!O;.GB.S=!2 M$E7Z639/C*&E)*KTL[S;5;*>Y5.9Y8\\E>HD&'JHD.N-0R%V&1ZWX@L/"5CT M2.VGI>WTI\*(.CX%FBV:+:?!EL+NZ&7.(28=EB!7Y\9[8KS**H(F3.#IF3&Q M@C\9+U8?&N\:[Y=S60DO*=&1EQO.4:[,LPWC74J6?-:IM,Q>I=O;++ZI!-*] M98B4EN&W+\-5+;M:=K7LED8VM.S^'++[AG2'DXR-V^EZFR+IG#4FPN9N,)T[ M_P9RYS=8R*407@WN\),*Z`HM20NF%DPMF%HPR\'+\DGHZ9_MA?GMCYRM_#9N M531;-%LT6XY\-5F*B`XE'4-/NUX-FBV:+:>P=RY5#X\.OVU#6T\6+UCIP4LQ MKURJU*0)(\R3F\;!8&R%S'BF:E7KHNJ.:1^5QI50'C]!65.N<)LCPT,5?-%4JL`: M+9=:+K5<:KD\0CF0?KO2[JXH?:7E4\NGEL^R70#G7L38Z"*P4 MVZ,63"V86C"U8!Y.^^E6VOW3+=:G!50+:*D%=!.XY!0*]"4OR$)C>&K,Q!)@ M>%ZQ`9L\LD!6;3P-*#:-WGF"DJC1.W^V6=;HG3_#+)_&D5%RHDH\RQJ],R_F M2J-WEB-"7;-%LT6SI:QI'AJ]4R-PG2H"5[?2QW)\]3>`P*5E^">588V`J&57 MRVYY9$/+[L\ANV](=]#HG1J]\^>-5=A@(9=">'4PS4\JH#H,40NF%DPMF!J] M\R<\VS5Z9YEO531;-%LT6XY\-5F*B`Z-WJE7@V:+9LN)[9T:O5-#J6E@1BTD M6DBTD)R`D+0;E4YG13:"EA0M*:9,1E"?OOQJB.\>;K]OB]FYT-I68\_V&VW)C'6`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`2H3$2=?]@5O"&_>,'!K3\GJSF[V(UGP1O#Q$,(I9X%Y?XZV9(,N[+]2=X MHUUK;:W:$GEXI*U5,`D!Y-@"+Z'N?BF1?2GYT_[EX(9DM]6O]/N;X9^4T70L M]&YGX4;KF.MK"U/_Y$Z68N)R MUJ5VJ?[D+M5V'1?/WOV(EF MW_R(_2&".FZ#.UPDX3)OUI9O:[?6L7VZ49Y#%WVXZ-$*F/%,_R?FS_#C*(S@ M"?2#17X:\].N=,QZI6'VC'!L!8P-A MO*1A:YF?F<@B@E*/6H5^L5R7?&[LA04#)T1!_[#WE2^\^8=PJ[W)DF\E]@)] MB^G^`L3NDDOL/1?C'QYL9"Y=+_UQFODD^\ME+^7PYJ5OXM@VJG4EDC6B^B8, M8V9<6=&*TCG+QE*`P^"GG8SYA7_-#PQF?`^<566-WNSU_)Q]/`+HISW6,W:B5UBE5FH3F&9-A:F^XW` M:&T+"'*(FZAZN])LKW",EYM#!SB&S17'<)E84<*%7.^?!NM^)N"=9JU>+PM7 M3@V@J41+[)Y-(Q[^G1>?=0A[MWRB"X MN)!7R%696/TPCK'L#%U0OLK26YU*NW>%NFUI>?4Z94M MO;(,^$\\\Z<-1?/&E'I194LJL,[ M_XM?5$JU-#>%E>=@1T/+"8PGA)Y'H)F(^E`>,M[=,V8@7);1-*K$#S9!D/@TZL"+"(V>>C3VQ)Q;,X&>JIHP`YD"C;Q-N M$CX%X_)&6-Q-)9#:PQ=X%09\+O:LV'8B7E\AK])"&,$_`A!]:/C0C84P""$! M.B&:%+0$[&/&._8RQ???O['-Y]7(;5NBI\U!N"%DT4>041L++P!_B?LVV>MU>\J8YN9V2H<--1G>>-_Y M(?>J&PS3DCN;TF%_0#I_+_,Z>5L#.K.?61.&[AV@R-$2Y+7LJ:3::N/V-`:HS( MGX1ARTV]@:J"3G$QY1EU_%F?+W\E\!!UX$Q\6WF\MZRS]$/9(,Y:#%4#`M,TY&PM8;6(/+Q2^+& M"P+O`A&N,Y36)Q]^8@8FCSSY+HP2;-*91/$5!;X1(9&3H1JQHIEH#..#`<,1RZX9/IBNG#HQ M,21T_Z?9_Q6;`@L)M@)FA"QX`MJ$83M?,4ZOF"7D+(HOG(`1S#(WYG'.1]P! MDA5DOGA$S;.!ZX>B*MJ`Y<$^RP>YF)#(![N1^H.[L?#)D3Q8C4#+N/A;)#,FA-IX'_(IMN MF+]4TJ['#H@E"*OEJN_72C8_]^NF!3FQ_60L!457KPN10F7NK&??T74SZ/OVF4+$]D(O;<8PE-\Z`X-XF'%\CH=?F\3FJ3E M[KARQW')5YL*FL>'";Y MCH6,SF[4B&VL,N]/T1^XG'OE`TTN)1+WJX&<=PC&[_4K_<5X-\3RV;0 M^;+X%.7R?ANRFAFR.H0)OIRF+6A8**I.'8TM#&Y`!23VE*"*#0(P>/`$4!1[ M&!J11JXMA#K\Q:PUC8GCNMB`QR)*_\F+EZB@V0\4/LO`+VP^H2H3FX5Q.!8\ MB%L=LZL6_&V-9!`.=F#6>L:,64%X@I%7NZ;L;!]U.Q_NZP?1`PLF'_T@\)]! M9$,1SKOPO0SA5\)U7T+G@^>XOYU%0E1'6!_Y<,*>X0??&^&?E%-I M&E7C/IY,$`85-BUE(HUT)@TYE;3LTQ9.;V,[=F3[1QZ_.S2^PVD#(J'#VG?C MZ&T;,H.^C;2'%S'&[BQS:/A+2[A?$+@[)IJQAP4M5X/"[\ M^#SV77=6]9\QRC>,'T/'=JR`\I=Y8CR"D[G.!*@4^<0I]9BV^8I!IAU,`S:U`MX\#C>PD03CV8G&QHA? M(X""!+]@N3I;^K["$P!"&@KTS(4'=;DX M(%4X\RS7^C!OW6,P02'NAIC>SA9J1<85D$B%!:7"G@8$4YX]<@J.4D-I=PT/ M*0?#XND72V82Y)IR%7BJNA`($!$_("57C4E64_]Y2+OG/\MY(D%TYIK#QX1B M7>'Z^6MSZV'RX$'0["=QB"J0R?$6&ND)Y?CQB4+(HMXA:/@ MM@_R:>C[D8;.]:DM(EK2RA:2\AP'X$R="SD_C M((QQRP-.H_8;Q'RC@]40N\(V#-@((]R)<\CI0>`\HD#/^&Z"7=WC>N0X#_C& M]8N`70#[8>*`%,&TI#SY`PER'?;$.&NQE90+V(?_Y.#HQR!=.#A@#9BG_XXQ M_AWHG%A_\GU?Y:D0`7@+)Q8Z=9F%0L8@S M&LFX5)OXE#1QKS0!/$$U+HNP?D]> M?4D5PA\A;1O7PAL1:EUPIX0MOJ?Q%0WL7*(IR#,!D_CFMCM*I\)-)%51DBU# MNHKXBH##+9Y(=QAN0]9P2)XBVOD%.(PU211+>)Z)I:S`VE34_1N>0D,8=AWL M-O\%F2AIBV2>9=M[)4E=S",F@,W3B\5(Q)$;&G;J'9S'P\D]G%ZO?:M*<\I> MW+DHLW*9\T\.+4G-RZID_""2;%"R/J,Q>5B,CVQ@Q6'"/_$Q)<#Q\.@@17Z. MP0I?`A\/?^A@$,7T"S_M07%V;9A5D(9`'1]LD:2.16,_5&2I)/MBLA'-+>K" MMJ#7T`AG'`/&&I=T^`QFW)WC'L"(?A.;Y%!H(""T`\E!L8:XC6MP&WX/G!?Z@-!M<'#/@?1IKFY&3L)+\BFQE)&2`UB(-0]I? ME5MD7%%H\L&>_<@6"!3NM3R-+/'289-JU[`8X6$VD\.!H\L6!&75/2>*217G MWIM+X7J=P$*/:+$3,8GC=44#V"7LY3@,HH5#1J)[-IIKW/992'LP[KD#9\JQ M&V9R4T&$AQ@VIDS/>O/8>O.X8T^^^X1GYA=$/H%)N809<3@$`MY;&E]\2ZM] M:\IOAV1GQB&>_,,X$'BC'$^UDX%3Y:L"V*V`,8.>:.AC?<>D'H`7Q<_7=V>=K^Z0H+?Q20ZK! MFH_X/H,6MNR!:'#``$_"3!($6A66-FV;OP^*G4-'O5*G8@GX;-H.@72`(3KB M028(72"4YZGEV%7'JPYX'_("`'F'7D=0(1XC8CN:W?@NMIM([+PAC\/!/8(3 ME'U7VKO#9'(&?H@[*F@MJ&!)WZ+'YER+"L?P>'AD=.4Q0244HVL2%!G4=>3( M:3)3\"5&;@U4N!)W_82!$+J`U:O[ M2W@7K)J`VV`7\IKS#M1C.)4QV%`K8+M<.4\#AR(E!BE_A1GST8&_;<+/N;"? M<#W;VP^0;< M5@L<7,=HNKDS[E:4[83(,-7GE1@ MC($Q'19G-5%T.T`-AJ8&$.'%JB\%@A#'XR72-[960..`\>- MH#_0U_3DP/BXVVF`K7,/'"W4D:3.HOM##/W(N,VX/SVYFJ;UCQ>A"):/B/ET M3`<"')]?J3C!()[P\,=07H:+"UJ'P`U!ZT!$_S]QKX"O/;*=^.^P'SD!;8GL M!:Q`&,#=$DT,4]WM=D,7@7G``T+.'EY/;[(ULV M,CMFJ-&3MH.!69X=*B9!<[MB/GEV04FVY+5[!>\D246LOS81 M4;3W,T(1 M1[,IOUZ1MBUJ+E9:22'\0`[`ZM2-P^J0L>0YODD.G1<,S20=-_FE<)NXT>&I MM2=_RM[)X"C?6\[F8![[&3VZ%&"5533)49OZ:95@`)$BB(WCR_*<2X#CIV"9 M#&CSQ:[!S/!0YW]0T/M7/CI_IF"-,Q*O`4MIX\/Y8#C#S!?PXA#5=WYL,>[% MA99X[)@3_BF"LB8.G"B1[XG#.81M'O6'Y#UY%2@HBJ<2%IU;+4(M8!8<*DE3 MY*/RTIXS2.@R&#=)^U0I"&1'%3RBTC,B"3AFKO_\:QH+P6\R)"]EAY)[Z,$? M@8[@R8D"#G*ON(4G.P5R\&L`%E`8,3)6>,:3`WSM[./E`AFP7#OA&;"IV0$= M_0N#"GD[I'OQN9:\2^/,L>%A("(7!*2]Q$QKO^`4):5N+OY(^`TOE?593#Y;`,6:.@?EM MR`H3HG"E?("NWV?)#T7,SQC#Y^U?X0%X0G$TJ,+L/[K.2,3MDX\):)+)T%F> MD->&&G/>$Z:XN(>BQ6N%L$RP9@%&S`;8*0[IG?/T/@U9>J)[)@QA)U>#FGPC M:,WVN%1:2Z]B'5VFOV9%0;&.U-F``P�F2`,4PII0:KCAI\&Q;#4M#\$NL5 M/U4=7%&V]9@5;P4EG5^4>7F,7?=XI"3%;+EO&DNR,(SU04V`]CKFT'Z(2KJZ M)V(N`.;?9?<_D6G#O#$^)+VMF0AU'E/HPMJBZ_J(3?`M$6(:8G4..L7)>RE/ MZ0%ZH2DL53WBP5+(H2IWFUP`X2^T@BS]VVPF6ZY#7@UO?34L'#KI*:5JX\*"1E4/#P_750\H'L"!6KJP4H3Q MKQ@R/'IWZD>,$@Z47J1"28;#>SI,A:FI6"Y'+6W^9AQ5-Z@K9.;7QF@_GL+, M/2^*3I\)_DFM1NZL$>Z,1:&1$J"8EG3K._`#N>M"3\]^\"=($:8YS^2VBPZ? M)(IPCS_G[A+\0I@HAPZP10_`KQ7O( MI8=[1=<\I$J\Q)L(LUY/$-(1:-H88/`N!451$.9R'+J.N.>SI:2+,HQIG(8H MEJKV])Y3K*2@KB/>9E.\-TO*18JX&)F:K.SK_$GZF+TZY5>0`Q%SDXW7070* M[G5Q,`X7K`P1EX>1-J'TTR;-):D/V3B?:)SI,V"$Y>?RN"4)1S"-`TQ`H[\Y MW@I\.^-/AZSX^J1O9OE=9*U&]3I)#8>9"LRN1`8PBE,D,(OKZ:SG48VI%`5R M(T0G(OP<&?$J6^&B([*=17ZS^KQ<=/BGH*YF7(A$=,=[\IT!7UII*&TF`6=N M1+2_D\]SZ/(K9;$@YM!QE--AH=?\HR+3J\R4%]&O&?(VZUX&RZ;84FELK':U MY[G:\6X(MA11)WY"X4K-:M>UN)M*9`;.#]A]/9SP^1NT9W+JY%\?ZCU.UX(_;A""K@6O M:\'K6O"Z%KR>^[7DZ%KPNA:\.CA="U[7@M\C4_)F[\0J-.M:\%KN="UX70M> MUX(OTXYR.G753Y%F70M^26S&\0OJZ9K=&:IT+7@M5T50I6O!EZI^L:X%?Q(4 MZUKP^S"03F.NR\'&DDFGK@6O:\&7;#'H8MNZ%KP6S],73UT+_N3C!M]D!(&N M!;^4!ET+7J^=#0-`18&>!^M%5\?;+>A3A*)30(S(@(F0FTIT)8'+9@HVS?BZ ML;!P!U\(&:RX.>#-88QK!ILU'IG'A@['B631 M,V/+BZY1""8V;H4L`8#.+Y17,RXH7(]O$18"6%"@MT.0@G"Z.N%8(@IE`$=X M!%6:0(#]B2Y$"I!,#U`CL1XI"!7!,0*`1/)!1S MS`R9412[2FH"X4\)H,RS7#EORR@6H>Y*[:94O.3NJ'>\39,Z%UA'L8%_,?N5 M;KU-D_(7^-AJJFA2F\>V522*C_/$9'(;ML)>!FX<\B^%F`NDNB0%([,BE/UA M#HF:Z,$UP\M,)`U(\&&YCSA*-=M%">*AV:[OC:I4G&)N"Q%)2DO*8^OS=?OS M]:,5.@->-@`!3(&EW^`H^()%UK[#3%"8I3YW7Z_`O,/Z4.]1*>0*[0>5J0GM M?#:<_%<$8LV49NEQQF%5!3I3NB((.3[3@``Y7ZA=F**>RW!T#GBN8J`O0-=5 M^)9!/R;:]KS*K]?AAN1\\@/!US!!_>=SET`>\D(\:?%Y!6P8D_MML6H1OY`2 M,]>+BP2=%SVM%X\>X82DPA"0P*UI)P3=H(B\Y@1=8<7A5D4RJ M4&6YL'$,RGPDZ-P4"`*IEO2E`T"V)%^G(\FNC3E$IFPZTPI"%F$Y$=%QEASD M`<$>S\3K(K]=YV_L=67Q>J9RP5`=T>QB2?,P0F?BN%;`E:)'VI3GGG\4M:07 M%\%:&<($5'41JQ#DDDYNR'!O2$Z^1JV3.#%0Z!H-Y8N<11BR@2S>2"5D*66$ M[^,*)*@8OM#;))\D12JOMDUSR6J?%95Y3L#504(;>*8B$(\LRQ]]FNQ0/7%` ME::XZ8^[S/?`]_Q8P-1I3\I.GA1:.XQ[%_"@A,6NE`,(C1]3FR/DC`,_ M'G'3R)9@PVM+XJ4.$*4XWC//7*?2A[BJ'IF;X/Y9MLB'3:HK4+$75!:(8@N+ MMP(?1(D8W*D\@1O!:]=G*N]5%`*DK4]5QZBBZ=#UG\L.O/]?U>JU9W\")09Y M5ZTF4@X:4'K3(O[XZWD<5D>6-?V@5-!+9_6[@-%X8"_11Q?.YM__\S\,XZ_) M.THU[&NJ]V,X]F]GBU_7NCVS4:NG_STC6`!H]8X-?SNS0L1_P3VS6F]6FXV% MQ_&%V'/XTS_NK\Y`FQC`>>"&F$+U>Z]IMEMU4QG,`@6O(-S<@/!FM6$*PLTM M".\VF^UNXU6$8SF)*R?$/-LX8,E$+1G/DJ>![D9_^3!1V1/3T\#_17YVLK+O MPMN_"T&\NKU\^,?W:V,<35SC^X^/7VXNC;/J^?D?S[I\X^^%Q,DF42G(1_M&7_Z['V>;0@VA,2\\X=PDLD*L,D];:Y%>9&4-D;5 M/&$N\<[BI4HE7*#*H14\$=!\\V8Z'Z="I.T`RQ"#@[L3?,05(Q@S*M^67G$? MQ@!8$/G#"']OJ?"CK;4@_!;LUC;7"87)F,P6U85&1T+BGFC6VHE9*(Q/>*FE M&(OR6T1;M,#`C">+?I]$"#B\@*Q8K0#<34E6*`1=>(>P6F2`5:B5>ECH%<%7 MZ2H]P8#;N3]>%9*/F.%+P/@(;[OP'LWCY47PUAW-S9'C>:)`-["K+V,H0)9C M[H+ABCJT*79@&'-C/-^35E^M,\$H-[TFQ8,%8&L$)]W/7UM_\9V3$_++* M8PYU0'<^`9+.;_'^V_)BO)\4!G4M+W*"HUI1?8>LEZ"NA#I(UDHQ6L)8(G%* ML@3SP>,C!\QK[`4,.>:`OAW$1OX'QI@@2IAP4#1Y98S9V86[Y3I5\@GEUB M+?&%D%1'AWDJ*'SC0,=LJE_\(?R11](GW,/6ZA*(B?-K)D7\X&OGF1<[%9Y: MU/=%](\JS. MJC'$+P`R:W+_.3&;QR'/Y4+_:N3TNVMB=1Y;]P&3L<_QSXO0Q+%M#&@N5&"X M*HC'I7$%1^SVU*W-G-F-I-(R;'Z%7]F^"?R4DJ?@U\:[X\[.//5V?TY8YM'#):0)T(51?OOR%.Z!_'<`#FAO8\EUZSU MBP;8*-=Z.XY(+J*8%(;H<(B)>K78=>OM2K.]`H/C$*/8JL5MV;+/;=QOT-KXA"A>F>32-&;HH\5,5#*-XGL>^:E7;7!!V[ M_8;E[%`*].DNEO^.\19$;[S)JJBU]<:[JRR)ZSV\=]0ZKMI)NT[9YF]8L+2. MNVYU7$P#Q\6UL4(,?JJMME'KK3AU3GY%%"I,MX/(%QKNWK?:-Z/A-BI-LUDQ M5R&KG[R4Z7UW0PU7;[O)MMM9`3Q_\@OB4!JN]N)F'5;=1J5EOF7!TCOM^IW6 MPYC+Q@KPNI]JIVUJ7\*K9:ES#.VV.'SDS:>N0,1C3D2K4VGWMBTZ=(B1'R@\ M;N]12;LZC\LRWL/7]Z2_(@(FHNB&AAJGVA4,FO/&OV MAH(L7.`RWV#SZ7\ULO$>8\6)EMVCQ9<,;>F!H6E^?50^RLI^6B*!WSLCLLH%KA2'/Y49L:X[]H87SYQ+.?7C9 MBA=.&[IYL@B<(0/\C,F60\L)"/^9I6A(*H;LNWO&C&^(1=(TJC1"GGKZ"=_[ M.[WWE:#X%G"RWB-N&WY-OP(A'(B9>93:C!G=,P6Q6H"_RXQD&)\*U[0IM$\.?A"EV]F\$L)W MFBF>E0FCI)_"%#QH[:,<_:=M-GKP?^9K\(-RVDB0DWC*\3QXDMFL=YMS+%E+ M\$'X83:;_1[]?_L5',EM935/&DVSU6X7PQ3:'S;B2?;)PXC((KA6`\Y"^,]: M7F2IG6-%_!B"-@`K\_H)MYTY?*UEOVH\K;UNJKMA0OUXEJ+T%#J2W:C&7S.&XZ>+KS=?_O%A`T_,K2>"X%I*F1R!AH*H5!'A M%5+*+.']?+RXN[HP+!LA91"?FY0$A*W!;8%09D#-LEDU'(#FP!63.`A0&.ZG M5O!WZX6X'$\3%@=L)/@JOL3/.*!]C`[TOG%@O8`V-``5F]$&$2`\I83CL0R@ MBI!L.1R,&*E/-0!`>AVL'E(3HP;-T0@3Z79G$M_+-D8Q*$^(N*W0MY4&"[)"LM2NBQD&" MG1[X4Q^5N>^DX)J@T3J\,D>$N)RU##DXDN0%RXB`;R[RAP^\@<@.2D0 ML(,`/P%0&",TTK]CF#8.>D&H11FI*<>Z+!>V;,G(40X)F.J<2EU@C]@&:)\5 M4#]7H.',KQX$LK.%;P$1ZABJ(&E](81[XZ808DZ#/`X8RZWAU:@U)`953;'H M.HH]5S4^<11;$'U2!*P!!WQ2##I8R:,1['"(S#L*".):Z5,LHFS/K5HO0;\" M6Q"!P5+DJW2T9-1R+*MYS*A=K9UEBE966_OA@:4+3+X4NT)X1X<%D8?ZVHK? M"T:H;71:_5Z_DXYH!2E['5.!X+5FH]]OF^V=QB2K1GT&&<)J*[?>5>+6",6X M5CZS;PU[Y4!;9J?54,>YDK0BQFK6UX^UF1EK,Q74^A9CK?;K[6ZWN^M@0W8[ MO!8%!<78,E]IPVB/AUNJ9/,M_4=(;K^$V:#Q'&41$67QP"60Q1^U^YKQ^>+B>UK/;Y+B+L*!-['^9$E%3`ZI:(5A/)%5 M/[$`G44E:40A0.'`E,7Q\+3.+D;X[7'"(H6>PV_P7I827D?.[,S1UF M)?&RYA$3H,X:BY$(GVBHEC6:]]GFPT6"9K,;<+^H=09V18(NK[`757K4FI;6 M.)5#2US:^'3:D>.!`A=+-H#B-1*6":CDWB@$VTA4VA#\$Q]3`AP/$1"]2*KR M>=4722O"TBEPHL7T"R\;,*!J';R.HSH^4)3(&@5C*U1DZ4@HOGM1O[)[>';+ M_T,43KK@=9,XX-_MD!R,MRGD(Y7VNO!L668-CX;=7BWNY,_UJ+:;]5:KT>BG MW-B-[.-SK2`=(I=KK5ZSW6_T&OOAVLMCX#H?L$?B@.B1?DM^%3=3O_._^"-_ M/<_^1HV=IZWEMHXZ47[33NBWS$;W`SRQ4\M3>'(EU?C`KC3_$_;O?\K[Q+E> MJ/89$]]EWH9IP#LT/TA^W';4],;YJA:5[JZ8YY,G:U6'4V?Z00YDDQX7&Y6_ M*N/>F(4D.2?-OW4K8*_\$YL(L7"S.YQVIUZ#S:'6ZO6[O5J[WFMR33[#<:P^ M(&J?*-\Z"(V/%^%PX`[&H&+\IJKN(1O41O[3^>7-_YS]7J_#]F5V&OVZI#Q] M>;[9D-%Q.,]1&\AXF6(!G.@KQX>QX3CVT('XVYGKUSSG\\^SW9&+FH\R[^>I[;\TZDT=;Z$94JM2H$O_F[ M2$#F"8F7;L8X*#@BM(RJR2=O);W,O,3B9TE=0KM..;>4%^:W2M?Q* MK)C]+:*67D1Z$6'C#UB14"^BG1:1J1>17D38^*VGE]#F2V@A(.=$%\_6U>GE]`I[H];7C^FKK]:77UYKUY<>!7E\[KJ^F7E]Z M?:UQB#W[>GEMO+QP89F=MGGJMOP-I0#>RR"4+S[/$=C9GK]C(<,@8+R59D_, M]:?8[#4/IM'RM:E\-9NX<3<[[5.7K]WV+?GV5UY>5\O-QG+3Z#5J39C:4Y>; M+[XWPDR>*_;X.@?C%Q\.T^_6#`.KM1QM+D+TF7DLL%Q0DR[LB>,Y8(N05:(UI6TEK-FJMVM-L_L&MJHPO)21 M[@.'A=+0A6TG^7JVDPWX.?#CJ8YXV%JPFEJP-A`L[9G;3JX6@4I.3+!PYCF. MSJW(S-U)>+)-:`G:5((R.7T'EYPWQ^N5:1S:T7=BCK[F]O+5/*)\:0/IY`RD M$Y.PDSXMRL=K(*>?\IK^:M9KW7ZKE7';@_6`.&Z-KGG*B_J`WOMMR$IVF8]Q MZ'@L#._Y&,.=U%`%3^F(NXJ0JVTD70C?420]*]^G+.-:F`X@3$A.-Q$F_A<> M4?U6^\2/*#FR+7@MAU\4KWNJ.@!_"<"B?KO'%Z[9J[7JS<:I+UP,D_EF37:, MBB%X4P_+$(%2B4T]/,/GV?]E@7_D_$HY?]M(E)CD?4N4BN35!I)0ISQ%#P1B MGU@P/>E(DL;%+_ODE(IYIC.XYY1"G3=WG`SN[!)0+:2#+@&=?ZV7P+'RKTNR M!'3VM%X"Q\F>/MX"T-FJ.AVAY-FJI5D<.M=4+X[2Y9J69G7H3%&].DJ7*5J: MU:'S//7J*%N>Y_$6A\Z&FK>[CY<-=4PIT+E,9=!C^ M\ZX\_G^&`B*9GF,TT'+/3C M8,!DTZ[UR-S?SCZ)9__9;K;^Z3ZZV_0L^Z$YA@:]$8S`J_ZX/_O]8ZNUQSF%7`G]RF)$)^OV\W4*0*NL`M`ZG`"TWJ@`S(_KM`2@=S@!Z+U1`9@? M5Y$"<.,]L3`B@SRY[;]RPH'KHY>`$[<8"I>=V9W:..:4O8+@O+F0WH3BY\+< MPUSDM%'NN5A*\''G(A-.N\.*4-XN-_]S2#WV*G@-Y\W3X7P.J=MQ?LY]B!<+ M\#V_@8`/_S]02P,$%`````@`Z(6H1)_-7AC##0``8:$``!0`'`!P:7`M,C`Q M-#`S,S%?8V%L+GAM;%54"0`#4^UK4U/M:U-U>`L``00E#@``!#D!``#=75MS MZC@2?M^J_0]>YF5.U4)LS/74G)TE@9Q##0E4(&=VG[:$+8)WC,18AB3[Z[=E M?",8D`DBUGE)`A%T]_>UNEM7__+KR\+5UMAC#B5?2D9%+VF86-1VR-.7TN.X MW!G?]/LEC?F(V,BE!'\I$5KZ]1]__% MSS+MY]+WV]*GUIO:/[7Z9[.EC>XV#>&C?WSF M/Z:(80U4(^SSTEE^*8LUBZ`->5)*6Z MV$>.*ZB;+44W8F/",%>+4=>Q>7^Y1B[WDO$<8U](-VO*/D2W$?(`U3GV'0NY M@HHN)6C:I=:*\POT]H!=_[5/9I0W@WXEH):-L"/#\6X=`EB!LTT\1!BRN#HB M?,[\2RDSH(ATGCR,.7J_._[\*[Y!2\='KGC/F/DN>GZ2TCLR=9Z@J2L43F:^ M%!R1XWU'[@K?8<167H"./\:YV!QO2#VQ10&R"Z@SC3)16=49NQ3ZX\Y=6THAGN@C)`J#!M54X8RJRG#?ZZ`I=Y:,/Z` M*A=!Y838P[""5A",@Y'![A!A[,//((-`?D=L?NO29Q%U5Y8%67OVH?H. ME]A#HG5ZH##]6'S!F3T,GV80<0>4B>,L(T=FUNLCSX'WEL@=H=>-UF2"O04? M>N099"R7U)=3RV4.,D(-[[$_G'7QU.\Z+.B'>53V74)M^V(Z\YD-^*^+[4VR M&\YF&+!_RJ.RA:D,?;,J.7&UH*#[N&A[2CW#XRZ1H_)VW9>GQKI0B96DW-\Y M+T`%Y'[1W?A0_H>E4K:W&0A+]OAO?=WOVXU^5_C8># M?KI-Q))6;=*AL"*R`Z76F$K%TVQ M^Z4$;_QG,WBL-/1ZLV+4*HUMW-+3UC/$IL$$[HJ5GQ!:\KEN\PJ[/HO>X1"; M9=T(IX)_"M\.96RKZ/*):.I%2`OH>+/R^/P?J-JJ258U%"6D<T9^P\S?W@#7BU]!SJ@?^#`Y:T%0/UZ)*KD`Q& MD6?M.-?V''S8XHKQR,0_7(8B8+%M-+01HFCD4:AE_->1BS83H]`[E[Q#0$JK M&/6J84BC[)#H2S`H;'K":%,!1GDMS1W:(W<8$G#OX$X^PH9*YC`J31: M-5,:LT(JG(_BO0$F8CHW)`GCA@*,7SN\F@OJ.JCQ'K"%P40^^*LT>-J4Q?)> ML1=D5LCTA,VJ`FP.H8;P-N;?4V*%"!AFJRHO>V;*O$0,/FYL0EY+`?*^4FH_ M@T]6#+UI5J7Q%8FY!$69)B6LM!5@Y9%,M^($2P)%Q6@VF[HTH@Y(OF"4%+4_ M8=54@-61AY?(LNB')KB=`GX( M]G@K'/4R%G6ST*X4-)6J:;:RQEA9)PJ M#],=]U=#A:%44+^E+$K/O-5T0]YLR'[!EV-2T/B$T;H"C*8KN;1!4,S)6QW. M%GK!/GG+/S+"HB1D9=LLY$HY56/_),KEIZO)6@@K'XQ$$8CJK*BPQ\#.AE`0F M;?8(-`U3WHSM6VGG8%+((>-]$@?,3?JA"BM^'=MV-O)'R+'[)#RNF#*P4F\9 M$B??C\J_.+GY($GZJ0JCSXYEK18<*!Q.3J?WN_>)11?!KO=;ZH$99#."LUZ# M7=$ANO9_5\P/-W\-9Q/T4JDWV_+"M@2%+^]081/ MPJ;`Z>*98SD^'X/46](\ZK@"%W>0G)@DA!=DF]8O5V\A&O>3L3:\U6XZXV_:[6#X>\Y-Y^\X=I5[%WKVSLH1 M#.$HI!C+PX@?F]O\KC1:,HNG')J30Y1\]_']-12#@5/[461""=<5M&'ET[T(^N7Q^A$_9)?!RK8_G..ASJ MFM6Z/"<15Z0X+G(B>&HME^PQLD_6F/D[1M;D3?N)*U)X#SD&GEK[C/88&9X\ M?FMD0]Y015R1PGO(,?#4VK0$UED8V^P6P!LC?I1R[XDFOHK5EC?VR*').7SD M7<$S=?KK)/34JD2BP_03VK'`'`\?,+)FUN0M%HHK4AP/.0V[?85(N=@>,IS% M%=8-95!]@TU-><.U?6(ELB]6?K]E_R`N^W;7%93KMPFT3\+-O=OK/<%L7IPK MMQ;FC*K$#7GO54^B[XB579'OG!5GM1).INGI`P##@IVO.:>4@)#*Y)/#1YFE(%]I?']4HPWXO5'#V0UT`[ZJ5&M+W"DGI$-QZMC(8[?-?(BH4N(PX@E?H#BU5JHA@`]QO#H&?/O8PX\YM MR$P2.P(+P_41+$)FVVIT].#ZYNNWUS=7C$9;EW>J*5MH80@6P"2*YKH:+']% M#N$["X<`)FD5?L)/F"1O5'`LG*=?Z'[<38Y#`1 M/Q;?DGB;Y1'IA7&$/"A%'J#*6A8`E.P[#C"0=YQJ2U9AV-V/0,2E(L/ZW1+T M[74)AF'6+CGO)^&Z"$G%^B&DU-KBTL5+#UO.IF)IR=R?D)94&&KWF:_6#%WD MCIO`-$$OX4+%-29XYOB59JLED]>#P@M$M3!(A9N9>^\YB=K[SDD,1[V'SJ0/ M#62=D]A]W$ON@Q*I\U#@.)NGBZ[`.9*OOL8SZN&8?\SN'!(P&8W+.\3>_I;- M`9P[[,_YWDB^M2G0%^*]WI17^%S0DM//:=Q30J/^MQ$5]B?H@F9;8E6X3^XY M`LW'^E!<8@I!J]8$\7#;H+!XKDM<*,B0^..XR#$X"Y?!%!Y59JHO2Q"!1*^7_^+/%)[!]PN2P(I,0<4D2W6/-"Q*)#W[8D7=Z,G_` M#(.9_%AZ3$`5"K5#T%0H2#[E@5L=> M.,1A_N91DK%E>J,M[]K<(](O37(>,-0*0:FGKX07/INZO`SS5MI9>3PX3$YN M$]MO;V$[Z%D1..SWBAT45']5/[GDJ?>W7ET/US\=UR MAMEH2+[;_(@*IX\!\EZPMWG6.Q11AZ_;,\R6+J^RE*/T63+":?ZR-2DBEXW" M%D@*3I'+=8:C6ZY^E,Q2TQNZ"?FDZS#+I6SE87@1'S;14I[.M)]'G@-O+Y&K M11[%<2&_DB:/`CT14:JUV*VN=,/,Q;P>_ZO3TD/[:.^2OO&"[2?HX3PS/ M`UX@!PSW^,46#`C_-T9>Q:@V)-X/]%[USM'+\Y*8]92)=T.K5E3/87J?<%LG MSY0_?J,F;]G\%)44\9YL"'_`'%(3S2%QIOB[!DE6HS.-PZA%L)\W?T3)(LCX M7$XDYIS9@P>#EL1'?.0]8'I48;4?AGD8^9R/P50P:/\(CX+*S^'A9T$I$$G# M?_`?4\0PO/-_4$L#!!0````(`.B%J$2OQQ\!F1\``$'3`0`4`!P`<&EP+3(P M,30P,S,Q7V1E9BYX;6Q55`D``U/M:U-3[6M3=7@+``$$)0X```0Y`0``[5U9 M=^,ZZ8S\=KQ.>Z68[OO)'G)H4A(8BY%ZG+Q,K\^ M`+A*!"F01)&0IU]ZL26@E@]`H:I0]9>_OF^MWBMR/=.QOYPI_<%9#]FZ8YCV M^LO9C^?SR^?K^_NSGN=KMJ%9CHV^G-G.V5__[9__Z2__[LS^?GT2=WKF,$.OZH8_>&`V5T/AB?#Z:]?^^- M?U5GO<=OX0?Q5W__E?RQU#S4PZ39WJ\[<_?E;./[NU\O+M[>WOJ[C>9N-7^# M;-37G>T%&6V@JLI9]/GWI6L9?O(5\M^^XZ[QYP;CB_"7R4?)5'N#OZGTL\I\ M/K^@OTT^ZIFL#^)!E8O_^O;PK&_05CLW;2(H'>%O>>:O'OWA@Z-K/I5NYNM9 MJM2+A./"3Y#_G<&YZK2?_>,F,0<,^Q)SK"@>[U0U*YCH2>TZI&_ M?SS=E\J9?.;BVMEN37^+;-^[M(UKQ_:QLC%@3.1A,NB8&Q>MOIQAK9W'FB%$ M_HG\0-=T)?Z8_['#6/+,[<["XKH`(NH&^9II<=)F@-!F&\CV$"'+M_W-LK MAWP,KRL.L@P-F1#`NS-M+"L,MA=7LSU-)^3PZ'/EMT7,@Z/9EVL7(2*]OYG^ MYBNZUG:FKUG\*V/E6]K;&F1U,&E^T986UW:R\D'DJ)GN;YH5H&](\P*72HZ+ MFM#_Q55T.+KUC9:(_`YV&XU]V.QNMYH>"_V[NWD8XO5(G`? MT"NR7C"YZ,'4EMAD\"MMUI@9S]'-U:OC6!8(,)E,X?/<""S,P:7G(7K89*B/ M/FE<^LF7*S*D:=966[VVQ@__0GO=^A#0N0H\TT9>*,@_`M/`.SL'.@MEZ M\L1Q0QJO7Q"*XGWOV5S;Y@J;3=AHT74GH#;I(S:R.$UES_&T77<4TK^Y%@"A M$\+DXZ,SW9*?\2"(W&^P-;O=8;.6&H>W[^2?5:!*^,%_X*MJ9TSQ@Y@0"V$# M_;"U`&_&]&:0OR(\^_A/>H+@\UWS-G>6\\9#;J#K^-1>=4KO8H=WG$?'(]?SA!G)-->?W1-_+.=9CUJ'R'5]@MRM^3J4>62L=LY M/HPMQ[QD1!1^1_YB=8.6_HWIT758A63?LAW#:(UFXMG`O[60$1YVB]4*8=FO MJY"L(P>"7I8EQT\6-NBZVVWKV#-DW[5A2-ZW^ZK86"V96.F1^SLX; MA]PT5X\IC?Z9)3;Q:YJV?V&8VXOH,Q>:=>"D*G"&QGY@XD@=4^(RWQ1.E>WX ME[4)V_^R<-HV>$!7#Y;H'/^4'#*'_C1N0DM&$DYU,L.YX6PULR[)1<.(IY<. M?[Y%VR5RZQ++&@-2LFBE!9;?7+3[XQ13C#]HVB8YZ![P?^./F[Z%/S\:C`9* M[[Q'#FG+(0X,_)^,V[^GV49OS_'?^R7:E?X_%/R':KG@^4*"STI^C'9?/N\V*12)7CQFHI9>:KZP0[ MZL#[1A'9'ZHCK/L<"ZQC(/=E+C)2?%RZ,4$KU]E6%Z[O'.?!/L$D.!X,A..X_'B%PO+D$V.Y%=ZZQO*D!I8G&2P/8;',$`LO ME)](F)$R.E(G8ZB=*9FE/A#I$-&AATF=@)(J[(@O%F^,(S9?\N^!!YP!;0,0 MP($D%0HXC`V(S==I;#A9LH%N;U75P23VF_9N;H-M1*ZJ3AF7!3'D[LTD"C\% M8HX15,1=>I$0CZ'F%XEGM"9NANBH')32G1Y0 MZFS6'W.=.D?&:H"FXSK)42C+\BA'6V7Q)X#C%`D@`(\&(:$\8T"Z%NP9`U)\ M+6%%*%!E1L'!Y15(R=5\`T`Z9+$:J6@LLXI*XK4/>!.ZQSN21[F>]^<53XSB M`>L?&WSZJ4II_;.-%TU5A!M#J@*OL3D\&,18"Q,*?B71?F1\.?/=`*4_Q&.A M=__6HJ?-ES,O/&>$`C27$`0`2+Z+,RP@'_$R1/3E[F+U'?F/KK,R_83],Q MJ!Q&G'KC';1S'=;A/M6GC*D$"1*?D(]YP'3<85D]:Q:VH-#*<=&-Z?FNN0SH MKQSW4`(4N;QI'TTGZUS_(J65XF(D(2ZNG<"-=Z<[A*A,Y@/NXV+_RYWKK8R; M5`]C"?40Y3??ON_,\,W(#;[@$ABI0TYE,$?H7"-'^4K5,I%0+=G#_'*]=M$: MDY\\0KGYKR^ M,IK/&&>=&%=+V[6^X4\T.LEY4MZ;Z:_Z7V][4453/Y<-\>_6:64RGG_Y'7AO8UM4UK")@6" MHHZ&>5>/&*`7S%G?3[`_8.C`P0RH[3`@RJ'%JXIX299S?1C$/5F?5:E8@+9B MX0@E0^#;GHL,T[_3=%*5Y2/*#+IR7-=YPPL>KVC\&_^CKPQ'([!3I@HET*!F MG#-U!17!?=39N5-9_=>!2^J7,;F:MJK^(DHD43^/H`"C04#JSY2<"DWD1>#3 M0I:80PILQJT!#@)EU$@"`UZ!15"8G`X4G(?(U"EJ,!KR])\-RR MXJ*>]"+8S#X5;'[82S;KE'/>0*KHR4\'.%SRZ]S[4>$F=8_O?"[R_"?-1S0[ MSD@]MOWI=`CV:(2?C`[044M&28;(*>C]&\E^(VK%=))F:@]>"HM^4>.4-*YMODE%0,`(O%3/``\+R#5T`F(E?YT M,F08?R#JSL[;O7(+I`"8PBND4(>])E7^""^/;APKP__:FL$V,3Z2:!H-G_$F M650?#E2P([L.01T` MI*'<8E1(>LJ'`*?8IYYKC/17Y/KFTD(T>^;2-NA'XF41*1EV"7/B6CB;\SZ,]+)9=1$6'#3X0BNTD(3TKI% M2S-1QI"1-#I8P"?M&>!Q,3H%\^$THTT>T-009HP:20.)^X+)<),R2<]/O`:F M`[!T`FXJ.O<3\$DH5KJD(<-[F_:I+,`Q83CJ*=)7E#%%SLET[Z`"U]#,K)'*S^&6/" M3E9H*=NQXU92=P_)SXZ;R=PA?#V-F[5$O4DCIQ:-"O.^Q.(`V7G0@ M-7P@@VAWEN.XF;`0>0K(ZY+E'K5S.XB3X]C/?A):C`!*L.F1:%Y+J0O9:3O7 M:X$,DL38L?QJ]+)A^6^.[6\N;>._D>928/)NIIQC=JXP+FZ39-834-\/6]LZ MV"[[.[YZ1_W*"!!;BDHS9N]422:W3$U#NE>:9WO/.19JQL'_37).8VD]1 MS'T,9K'R$M&YJKGD$Q^JRBEH_%ISW0_37D*>3:4O'ZO[$G6NV4`Y)J4`I ME7EI_%_@^5KD\TC9>4(K;/]AT[W4$)Q.N,M(-)FH`^6*DDN:\SF5L3Q(X>-0 MH#J!=9_$%F;1^%'6R`O^=EB=$4\,5\HR/Z%P;+*5D,V4*>$Y>>7=KB0&!K;DX5%%T,N48 M;Z=?0(.B[<7L@C4);`MY+3'0`O*8K0R/,-Y.NX`FG2IND&N^T@[N#Z:V)(\- M25=WQ];#H@;]F3H&O%:7SMW)S9I7&G$4L+O,SF:%I-2!FBLDI9ENCV:O];XA MC?R0NH%[OWPG:8Y$*/6+1L6U$;(#)\,VK1&5C'Z5%F'X#Q.Y6%B;CP?TBBRZ MBI7Y'&P_XB.A_A;+%&!^IF@#&@XF`W!.>2@1L(1K*C<)$-<4G/P]AJH(!LC^ MDQ#UT)Q*B'J&25Q7<-*W-\K()3ZA/^@;#2J.X6``UA*M=&8!$,\8')'2C(7] M1#)_298P#=_\L)VEAUQ:#^3>W@4^_C6V3?"W:"'B0\(2[:I@]PAPZL4N)0[( MY%90"WHYJ;.F2(;P1\P)+CMHH9SVLBL[N%K0R^D<=K#"`+K=RP%2?J='TMY6 M924X%Z1R%8XC<@6UIOY2-TA>/G(W`JEA`T.O!&&7AW*&*0`\>DM08ZTIK/>Z M@MG+SRMR%=128^Y<*96-W*T[HLKKFI5Z-,.S=#@&ZV1=,&=]D-*J\2ODTK?4 M>,,R22GYQ8HQCT<\ZA[[5Y&VQ^IX"L6Y2$)%+`-.Y<>`!Y+S"5Q5R@0%98_+ MOTJ`.#^E5<*X;@#)6?J;A7B^@6R+UO'%%%=4YR.R%\9C.%-Q;R8!"P)4T0=5 ME'+BD;M!'=.P?,AT&L*7&LYFPN5#"8Y_O"3EH)4FY(GJ"E-5C*4ABAQOGZBW M,9>@.-_C`N&-6>TJV\9@.E#!LA>/3=X65GFK@+'EDNYYRJGL>=E%E\M?A]A0 M&H>S@;+L!8:S:^"P0`VY_9)7/H!&J+",_%)['4K+#2YK`&H]*@'`0L'B]'@\ MV`._9FO&!T&7:JDT`'N"5=%LTT3"?$?*HD3"YV"[U=R/GK/J76\T>XV\GFEG M/XY_L0C<'MW.>FHO$WT0FWH8$;)81631`CBB.32[U<&4ZA"K*4N]?+SXCISXBI)!%3>9_H,E/B^C-U"I96Q9SQU#;) M8V(#+!L"Y2XG/PB-+*1O;/./`#,T'\W@T^N.$'%JT*@AW.05ZIR&TLI:9>*(K^;*0"]F[>GZQ+!98P+G?! MJTR<,K/?W;D(FUVV_A'E$\S:*)I1-+_8W+EDZ.2UR!#^O7CQ_"(M]@HJ+#/` MBR5T`IG_O+*`?ZK<(9Q;+(#1(9PY:UX42TCZ%/V$G3*C,W,IQQ_X[MCNWAT] MJNA*#`CH-(&F5`I)'"S'#'P&4J-ES[DRA,.!D;7$(4?`XP`B*^T?)Z6T#7Q\ MH@34GZ7C?I:.^UDZ[F?IN)^EX_YA2L<=NQ^T&,>K%+@9PR3T\ M!`"EXQ]38BFRBV4D=VN!G]5M\$:F)!5)4`+WOM[;*6P^"G[LI%82&RWI427HA_#PO:B`4FG\CRXX:C">HPQ2X"%@92!,H>*'17.6M^MP!PRLA>4P1`L M#%8RKX`ER*^>TIIN.3E(_R[Q".-`D?PN<-DF*VWADI%UP"<'^1N+'N6CS3*2 M38-/7UTGV"WLN*,UJ?S%J!C!K)6X_U4H2!4(-@95,?W)!J?(:"-2NE_>G`S= M#,._6.[)5[N4.Y/^5.XRU@E]M#3[N[:-&QJ/!G#^DOVIZB]1:OO=VSJ^`F%S MCXSZ\H;__?$_R'6>T2NR4QT,&<%B)H8XQQ0`KB,"C_%4@TFY;_HQW_1(')$J MND#F9W:B^B!CJ0F88&&F2*FH8X`5,BB](9QG#\A@A$,2,,&`2&+8L84,RF^Z MYMT(#]D:X4-&,+WX^&"/T_"UL]TZ-AWZ6MN9OF8];S07>4^(U'I!QIWCW@5^X*)[SPLT;(CTI\IX M#':7JTI-*PAF-0AH(+;T9!U*:*!1/JXTO,8PCSN\NVJAX%Q2-YDLJJN/]"./ MV@;J[\CH*Y/Y%*SIJ'!RNT(4J-SE;MPIBO57 MS;3(.8(7WU=R92<2F(#=8Z&H/G4`EFE![@913(=/PAW)K@F#Z]@20,;51_0Y M+_J@1YK"@$6I&]+6V3DI3*1RMVIE\GG[CES=]-"C:^HH^>4>-KRDD,R#0K!?D;HE$5-X68"7C='9B\+&6=#V1LHI5 MU`,DPA92^T M8(45,)KXZ0!V]_9Z6@WS/:TRK:N>S;5MKDP=`[5WJ>M.8/NFO>X].I:IDYJD M>W5+Z2WH?$DN2;WL1:IW^T[^W2#7+6YAE2$GI28F)JU=2@E9'M[G(BJ:9L?= M;G>6\X%06`T7%=P=+0I-_*_%BA2+QF3_'5\=$48(_IR7[<2IS`9CJ!=K@FEM MX,E/=".&I'#%CF8*F.A`*!:P>T'#+[%P@37VB:(<("H!NAQ+LR-$`B51%`R M;WV\%PP:OUZ;3,&2.$IG%H#N*FI*"X'S24/^^F)'N0?*F>H*I.VRTQY(&0EB MO-*0OAP8!R-@K0B:JI7)$,DU((]_+VWCACSH=79D].A\B_)"1V.XT#O'_'"8 M+5!;C-IJLI$[9?8KLI&K69B52V.+)45>%Y)LX'UNAJ,I6/"1BX+.=%U5/G*_ MD@6\<@)Y)KMS$M2S18#$T-06.>*O;0461P[]`QE&"VD\[MA!W\SW.V$TJ`J[ M=]GK'NW\I='8E]?[A08Y'9*J$+]A7JQ6B)1 M:*$V574^SE^ZF'&P_-?KK](#QJ(='A,SJ46,,!.91T3Q*CG&@_SWMD)N< M+@%1AQAX0##N2L=XD/Z.5,(`7\)#;25PD),\=5/GO._Y6`,(QT21F-BHR',A M]^UCG_J'3"Z).N=]?E(PABA@Q)%K=3ZO19"PJ!2OJ-C(R+'Q:8I$E@NFSE(6 M@*%OVKNY#;91ZE/XT)8\UL!*^$'RGL+LMF@^DA>A##E)K30R..X8.U)MUN6^ M.I-'.:9'#L'%&\E?>]8LY%VN0\>/BSR\:BX]?`74='R/#NL&!O-7U#OAYGM1-9SGBA"DA'%VAI2:Q)FJB4V"K>JOER".N> M.-7,]CJT"')0<`F(??`=,G`*K<8R#P`IE)^#I:>[YA(95X'_PS9I"FWTPS!# M^@GIR'REN'`3_([> MZ*^\OC(=PD6A^&CH`@+5I2-WSOD3(D-@/O@-K"&O;5EQ["[4V8#]2*]S.?4: MONBF7#TCW[>0T<>(G/$Z(_)?[T([Y4QT7GJT/-G>1:^F$^R9E/$#^\4J26`@?Q&< MO.*+D^U[U%J>#U6PNJV%LS9*5?%=4_>1P1Z=_=,X3V.B@&5<-2%,P/+GUW`F ML46$)*6O[G5$,E"U8:7$/A"S2PRT M@#S&UGB4\=/;]+(L0#7TJJ\[-@OX_H8O82XR3#\Z=E1E!.;JS4\'`+L"-:1- MQ$I8ECNSX8D4M@J?LZL31LJ3("LKGJ6!!4F&B,T8=<)(B!)(JC`@%8LWL>>8 M?$E_1AXP!F6=`^`&DE0HW+#N`4R^Y#_A.( M@*-(I:5F%Q?KU;,1;Z)QKR/J0*QT_K:#$*,A2G5QA)=IKBCD) MSU?B^=,DK582&V<-1V!T'NXAFD_JJWZ$Z10TUXY14H6=PE@V4MN89&4-\7(: MOU$[P1TPN[0X"Q6*V4XJ>@:!WE/6]@PV0%Z!R(N\;` MX13&XC;14K<%"YM$/Z$*A#:+?L*ID4<B0<*QVF:G7(P7JC"\5"9@-498$S8P)(_&"W>SL?#X:`M#@2>:CS* M2`SZHZR?PDEVP$5J-&*V&0\3030HXD99J+EV6!!VR^151Q$*#QC_//?(4L%` M)?N+Q^D_TA,&;ITU?L(@Z5/*`GYHVO@>.RR/`JBR]TF02-?%LI$]J?YH)GGT MGJ,_FDW'O`]5^(?M0H?UF);K)("JRC'N^01G;*;!5#V09-+59UUU!X;PE()>=52,C"PQ'@G(4%BKF>=OS.A`DVG1\Z]QP<&]7C-Q4[SZ#]IR78#2 M.I/QX$W]A+1':!HM&8/MH'L3-5AQQ_J@>D6-4%,";"-NEQ1#=3`#2[^#(%C` M.B_5.W?3V6;"EO^0RDL):$N7?G5`'66GLCI81Q^LL&4X-3EK8;,E<=CR/%-< M@A)..,8Y?N! M*.6=0M#O!KGF*RVN[P;$ M2(V="_$SA]F<%35F!I:.#R<4824BS^.+AT')`[_U38R\@?&0QN$&,P4LH06$ MY`8F=@O&(7B_W\YN+4<,[W;@F>__"ZS*SY/M!*@@J."O9/O'M:5Y7N)_7[A/ MYGKC?P_(GHYQB'3RTL5$WK5&&@1=?<0G3?1!KS\=J&!/BQO2)OD.P'IH)$P9 M:_#4&1J3'L+?X/92@*2^[+,8L7S"0\DK_1O&U/?'&[>D<3"[@4#%2PMLQEIGP-5 MM50A=QN:,L\G4`2N@1-:RB#:41&>P@/A?/H`D/:KIXU(J?0">4GR:+B;B'VK M"3?P$7MX=U2:0#.24'A%]'9[EG-#4$".`X?&I"\N"2;J5I-//]MJET]XI[C: MN?-_16E,_I*@8/R?0JRD\3M!)C'Q-2^=9V&C3!B>]P%KY=%ENS07P*%\Z7%* M3_)GB)RLO;PY&=88!6X;`2,9_9,"@RD]N1UVW*QA]6=1SUW@L?KXGQ4<;`G* M[5WC9>[."=P,;[Q%-:L/_TG!P9;?*08S&;R9KUG<\P9ZJ@__6;'!E)_<,3]> MWI[-]PQKC-2)1M!(1O^DR&!*3_*^W[RLH5=D9YCC;2E<8_S/"@ZV!.5N%!ZQ M&UL550)``-3[6M3 M4^UK4W5X"P`!!"4.```$.0$``.V]>W/C.)8O^/]&['?`UNZ-J8IPJD2]2/6] MPWN=MK/:.ZZT)^WJWMF*C0E:@FQVRZ2;I)SI_O2+!U\27W@+RIJ(F2ZGC8)*&?)>#S_F?[QAZ(H MKEJ6_/KUZ^CKE)1UELOES^2O9=$T;"N(&G5^_G]^O;E?/<.7X$,88<%7$-5* MPS^EY)@L@?_UH2CV`?_J@S/Y,'5&W])U`;$A3'LG M/Z"!`X`.71)OX1>X`?B_OWVY+FMO@O21U-RE'YZ"X/5G7.#G;?`(MS\'W\+T M$FZ"W1:/(VGF.8&;_0%O-("^X?1GN,U2_!O<6OH!_^K#V,FE^#];VLW>7Q%_ MTO#E=8N&]&=)X*OG('J"-_AGU/5$*?B.MM4*L$F"IQ<899?Q:H?_2VBE5(S> M'O0(0\9,BQ![+>NDTE0CE:;B`AR:@"658`U?$[C"9KA[Z/>J;I/DL":V0$ML M@9P%P=S1I@;,E^A_=.!NM*L,>P2?1`8[KW:(N*TUU5#O8!+&ZZM(,>;V9O6` MO\^"I,>TB,-O-JQ:@(;5`WZ,U0\VH<-*A]EY,)R&Y*!46XTJ1"T MP/!F39RL8TIFN1OT4UX2M]CC6M*9D7K+M9;AMPQ&:[BF'F?9=KS*2Y%>_O4' M](O_O(A?7L(,S]KI>;2^B*,,+0K0PB*$Z668KK9QNDO@^6.:)<$J&SEC=SER MG-%"=.+%OSF<=_-?\T'9%WB+7?TX*<9R;S3/DT+L31*_*)$ZBU$SP2-G,Q-W M///&H\EX.AO/?P!QLH8)6LG]`%Z1?4O"[/U??T"+NEV*Y(E?L?\7E(0)DM4` M$_(2/Z]BM`IZS3YLFWQ#15H'Z(`4LG)Q$+>),8%IO$O(.NYEBR#AQ2V,/OQV M_P,(U_+@_%IE@!;*8*\Z^+VH]O_]CY^K,5&D1`](*S^BTG\?NN;$>B>'^S^WC=C19N/.%2[_MPEJ%4B>@3LU2AG)/Q/?FCWN]6W2D!V?MW>US`$ M/R\"?J>%.&W[71*O(%RGG]"GO4'KN^T]S+(M)-0>.;,ENYR-IH@ MI]'Q3IC'^V)H]QDX`?G5G]#`TFI\A/Z"3T7.OX7I:#9=Z%NWEMW(,;4';<'* MJH@S=Y8>G;ZF=/JRFX@#R'7;TO[N??)G\#LNP#GGDYJY2X$^VT*;A:QUI(!F M78CWB%9X2C-WN1C3L;)[UNY!;<2X=?=?,.PR?@G"2`'']!DR71QK-V;%:"&M M7%*MG)$QFXU/AVEMV(T8M!X`4H3[:Y`D091=?7L-$Q+.@4^Z1Y/I;#IIX=YK M2`@U&T]S.J%?M#//PZ MTJU5+-;=5J5:R.N40S_LY#O3J4HLG3.&)+9"EVXWH%8;5-4!J0]H`[H5P3UA M17#E%6%"O\KT.U.$2BSM2T))@/[]]2_GX+%U>HD?M^$3];3VII?!R43TM/KP M<.\A>-Q"PC>/V14;:$W5`3,SU$(W!JI6AY;YZLK>DS9!:4RY6?S0_+KM;P8] MD6K"$1@#1&%QA.R@=,/M81[H.1UH>V/Z!*71[>3P0SHFDUD\&3N8W/!;F`>: M'N+/[`VF$Y3&B)?"CTLKG1NA1#=A!*\S^)(2IBP%/([N)K7%M?6";O*[NWXU M_$LR_'-[]\9E1#+OA7#A&PK`QG4!J:R5]WQ>B1VT[_%/&#Z!F^^UV7O`+2.2 M.4^%"]=`++0IMO-Y+G:PO<>'8?D$^6Z8O2?M,B(9]F:XP&DT\+N$[O7`]2<( M"5668PXG9K^Z+)>'P53$W2];#MJ2+M#G=F\.LL`WYW0,8O%)&;J?!]=@@S^. M*J*Q>0UF>-;B#72-#5T]S^T]IV>%KW^6'\20TRLO!'`I5>QBFZ7-L*ME]NT: M&KJ8G=M]U,<"W]"L.@C$+\CE_#P%"0Q2-&Z/6PB"#'W;"+[_2TJL&IE5"T&%1WGD\+=N]G,:`W-<$.0_'/GYX2DG8!#R1RZEZ#+0A>XEV4X>.U M[!GB([8WQ,H0DS:*,T35!&X#[`2"+"8E@LT&KG`ZLO0Y0*APJC&(JKR#Z3A[ M!NO@'95`]"5EBR,X_%O400!^#3"W(YSM"WP*PNTN@6>H%"`G?"N/>`N`5KGWO.YPG4JBN@W@"8/?+5RI;CEM\CF-N])\0" MWZ@WT(_%OXW@ARQ\09-N\$[.L=`<[8S&_ZUP!@(][@*K9S`"(@YP*]689W(# MM&^?RUL_%=V9F]L=;L,"W\ALWH\AG\Y)(>5VE7E"-\"O]BF]=7!HI-W<[G,E M%OCF)O5^(/YU;M>*/`HM9@W<5J&+8CS\#+.[)-Z$V1>(VL8-X7/:,#NHS;Q?@-J%+LEU0T3\&.0@C73F[),-;=R'Z=N!ON_43 MN9/_$W@D/8-UK6NR;]$,6>;T9-21GL7S^5X4O.%9J2,-O2F_L#ON2(>XNCTW M#9B)7M-&0=DJP,T"TBZ@#8-ZRP`U#9J7;XZEM2S^Y/>BM0U_51TEZ,[WPN[3 M4QWB&O&'-0"G-WZBG]P5VR%?8+YU[G39O7LL+9LQ9U@2:+E,?M0;!>A_3KE+5J)?:.`,-M<0@8EOTTVN?UB,4(S.3^6J^&3<=6C`"YBV1W MT)JT;-I=5DF`/FD`Y"V`ZE"^;`.4C0#:BA%=87(ZK=>5ICLI]KERG\3N@W1I MVWJWFR8LBN8+7,,7\HT)PUQFWXZO<3E-D1>D MT!6^EHI/M71HT,3"[H,$>>%,^7?22/VJ!7*\VJL_W(>XG*Z;*#U9?+=34+.& M]R;Z>6GPR,+NB$AYX73[;]((Z]IUNVEUX&@KH&K&C,JPN'"GH#(-)T[TF[GT MF]D=02$OG!$W3AJFW*PDKD'E1F4>G4]XQIZUIZ\I=>K!`K)-&P[K5>-.7AB9 MNW;O?O.*<@P7C`'7`;5%=K"+:V]YA%Q*CJKV,A^2?3CBFZ%B]*WO3,89ZZ8< MK^MU#+7H=:NZ/QE-9V#QZQLBHIATF1CP'#A(M?/8O(X.SO+Z/L?@;*]?TSFP M$QJRZ]H=?<`KBG&?A0$43\9!N#[#%Y/DK#ZG(J#E]\LYFAVB6M2GPYX-J%%? MDO,L<$JF'Q:NAI]N]+EV;[4RX3?FG3"`\6N%1-_SZO[`3!Z",;HU?8'N`:*; M9*[=H9I,^+7/^@P@*,N`+IHQ3>K&:-:9W'L?`Q^=Q?29 MIV+#!/8/FD?O7[EV!WXQRV#$%+*B*5^=@14+U]PLO(G3="_/U\?WST&V2R`- MU*2_?B>MO<+.W4T8TS/-/9^]IA!KA=/JE2A#ZN/9! M=KN/[X`V4,3_YTT(/8HH0#(M;R9:K%2M#]N+?%4:U>K:&WNB1CCM4X\2F(>: M52J5O!;E*.A[?HA&\[:3"AUJL]>Q2CT9D*A;,?8J5E^!1IBZ]AYM"$IC?CX9 M@M1-R/'L#,ICQ&R/J$!*_2+0AMAW8?'%>W]/E M\EYV#]HZ^\IBY19J[I]Y]IYY,&$WQKH^%,6[T@+^[#U\PIN3^30X6WJ.-@]V MKRLYU@V@KC-OKV@Y=DNZ[O;L/0IAQF_"$QT"X><%!"??]L^IQ>QI)V&K^>L8 MOUR![0TR8,9OS`P.(9%E8A9D)`KFXRX-<0[LO+F43'%SQYWH,X]]74LRE4^J M/>;V52T/`/((#\_>(Q5A>8R85TY0?ED!%#5`447,"V`BB!Z#?&S:MQMLMB]" M0TX\>\^TA>4Q9]`YD?EJ&'\)D_`MR,(W>!VE6;(K'B;Z,UP_X1>)@L=P&V8A M3$?>?-H67::&_<4((#'K\J#6@5R$X-6 M.0.U2KKU0LNL8*U>N.)Z,7$G,XL/0L2$T3Y/",'R+W9)@MVCUS@A,2CQ!JPK MK0FK5OBTXWRU2G9P??7M%48IQ!!NLV>8Y+WM`9E./?9TMLSMRM%="GX17,7< M2/D6T9B<4:'_LY;[TG*QJX%<.*`,2/\B2))WG$+A+=CN(`C2(F7^8[`E:;#2 M9P@S$J^UG\,$/_^TPEVLR23S2M.FD*LF&5ICYUD95G&*9J'L.<.O]^!G`7#_.(?>U^=P M]8R:>HO#%4S!<_!&KN2"=R3`(X012.`*(EU?XY:^AMLM^>LC1+^/$`7QRSQ7 MWX*75WRA$0':[M809,$W/'<63UV=`6)"R`,_6:$8X+<4M8FD1AVJ,5#'_=;:)R:6VS+VSDN-VS4"EG%&+:.]9Y_2T]DI>72OEJ115@J M!2R4@LQB1"FV$LJ`/8(BW5T.9#1?>#-M&UOM?4JK!9,<]8W<]CK5R#MTY.T_ M@F,7Q,2)!3,:ORA9YA;-RRJEL)8]J"-0N/4L8FBL)W2L[3][8Q?$V.D#,Z2* MQ_GBB)N_^5(GGPSBE]<$/B,33S:U5O$+Q`&-G^($AD\1A;%Z?TB"*-V2%=/Y M^F^[-,,;!Y]A=KMY"+Z-YNY2WVFT!L#2FJ-_!`_43G6'%:\6E%?V'QP:&@5# MLZ-KSOWCF)VN MV5X?2UW*4GN/9PV/@DD_PX`\>[:'+AI7>[9GB_K@M"#E$QMW0;B^CBZ"US`+ MM@C_2QS=9_'J[Z.YYVA<1P[V+ZG?`O+MJ>M@_>H[>?0[V7\K5$PH(W.X"#*_ MJ@5P-30%@[PBH#4!J:I-,_1,E?9H1OM$QO&IEO13V1L<(2>4N6E&!%Y=/5Y1 MM0]A]&%%*W)J1)K"+!TMQO.V7/F*6$_ZD&1V!\X]]I(RY6C1K+H3Q_[KG=W` MC=CGKMY]^A%+EI`[\793A# MT=L_J1Z?43L3VUW!CB&DIT2.O7&![`*8<_&&H/CG]_=7#_\0?G.FL!M$80G%CGA;/Z9>\C!7L\P,;H MT?A4P;C9[P!R83TF'LN.S:_0KS7&WQ\OL'&8:8^>03PN#HC2H%5?-:RTV^6B\;C7.#$.?[^K9?PC$)8LQ(\V# MJHIF3,IRX,='T@+G^T^ULZ6_X&N%(]>9ZML\..Q-CLO#V.L4/BQ=CJM'@[\F M]N^HLHA@PA`SX/#K)_.`E%)$3"W6UA`Q6VUK]VC2R*")_1NL+"(8LZ0,8`IV MIKC0&?B_QJ/Q>.R`UR"AEZO_.W#&X[,Q_?_\B7H0[+)G-/3_A.O_#N;3,]=% M_S^>DQL^\\G9=#P[FTT61>$P37?%)=9=EF;H!W*Y-P._HJ%]!E/G#.#[::3$ M);+B.-5H\=LIOKNP?>=-`;*!^/KN%_@&(\R]Y42?]WW0F9S:#"*O M:\U!X>(C+Z9T.W-B_YXP@P0FC/DP#+\H`O(R:@BI*?.,`4*VFO'.<:3[FA/[ M=X@9)#!FQ(>Q5*Q,Q%A9Y).I7>G\'$?YKO/(F\[U;18/="[+6D[)]EG<6[G\ M#K/\.]B_ERP@D1FSRPNKGCBL5@=4E?1H@.8,84?4@`X[SOAAZ,;_Q/X=:0&) M#-IY7FQU-:AE`CL#6YQ5\B"_"Y]&_!+':YR+9N2,W:F^RYE%-W(D[P%;IW-1 MK!A)=T:WD2;V;T#W03=AHGOZ]XN_R1),BW'51;!6>]D8I3D-K9O8OQ/P!(
H899^(L]/FQRE+F]$/>>\VIF8#%75*]G-H?WC^`WH15ZX?@"^=L M:OV$6N*_]+*N-?BK9="\,=73J?UW``;0%'K5I%M6'FTYC"?T\HS54_L/X&1$LV$FZ<'',J,( M!RAS$TO/0\-V*E'[$\3<7Y)N=T[M/S24$75U_N_P5<_?MOUP__(:P_Q*<#&3Y]=^^[^U7-X&YY^HG<-!TT MRFQJ__D*GS"&/9YA1'L^CNRE*P9"Z/9B3!-\R%/I_`+TDL74_O,=/F&.X8T, MPRHO9=5L-^?-K)LX>GJ`R^U!S,3N"HB4T*<[:6 M"4_;@X/X):696@-3M5S6K,*U.!X[TV(9;X!.K/_YA6?,,9L-2NB MG.TJKEJQ\$&?Z3X2P;N-^,`7R+T_^T\$^80Q:\Y9835LNO`9X5T"\?L#^<.I MQ;NI^QDVG9GKZMMV9D`@1WLQ$>O\9VBA_$B3W!39?Y(H*)4)DR\&S<^K%:]; MUQZWEDF2R\4?+1."72K2.D5P?;'<0R: M?2Y@%>NQG8=%X3,0\1+^"\R",(+KJR")PN@IK;U]>0DWX2I$#%F,YYXVV@\# MD"._D(!U%1ANH/Q`B_P#V;_Y*2:4,740@K?W;NN:%N-3AOOG.,GP@=C'.$GB MK[CGD>..%TMM7DY+CW)T9Q.ASN^6&OG@>F.'7@6;V[_)R2B%"0^I/BM'P M@*J@0KYJL=9F^=IJCWN'E]Z\FMN_9\DHA3&+RX:'DE8T'.L^0Z89^RFWFT]A M%$2K,-C>Q2EY-;4,BYX[KKY%)0L"23X+R;C';X86RD\SI6D;YO;O38J*9<1B MBV'S+VX_7UY]OK^Z!.BG^]N;Z\OS!_2/C^ MH^P;6+H<6=B_^</D@E.?H]2/@%%SPWRN;/4%QRNZWX\CSS]3&[. M=_2486'_[AZ?,,>QP#V(VBRQ0N>A00@]"\3C$;Q]MZ8IK=YI0C.WZ^J+5.SI68[??"+5&=Y3LQQ^E^8X M6]A_2X)3&A-&G`^27Q0OW[Q+:X_>:>"Y%C-^7)ZW6G*FST"W5Q?VWYW@E,:8 M+>?#59$]:#Z%)_S0V%V0W"9D3V9-7HZZ@\D]?LX)O]^E;V^0`8`<]84D['BA MK*N!\I$MEV9.6MA_%"DHE0G++P9M_\T]5!'<)H!6I2_P`509D-KZ5$3W\WS' M5Y&A1_R&OQB]$[:P_W!34"ICDX88OH/7_\I7_X25@G24GI?O`R*JS(P\HGK8 ML3(E&):H@_R'%:OASQ=B]I^0#Y@@+0_#]`*H*JAGN:Z;;YYF@_9^,ZO MX-%#NH7]YZ*8/,9* MK70GJG8+':J@]&WULC9BP\*@RUWK63&Y>V7J97BM9O49Z.:`:_\9*J\X1S'; M_9A:;7>MB@:VF_&\S;*=S?=N_11TB>_:?Z#**\[QO.]^8.W&/1;E_/D+C-8X M'O+3-G@:#6^BI'`U>HK??E[#D-(;_7#(:O2K_7;E*-P/$5.VT6$Y;@XQ%8YK M[QX($W:=II<%@%\6`+B$`HKUF%%;*.8R4FQ.1\G>_0DJV/X'#)*K:'T99'#DS(?>(&2E7%<7DG,T*_""B%T5BA%=C'/-M7?;@%<, MW1:0`TN9NI@6!K@T0,4!+J^6L@JLY'$HV["=P^-+C8!G[_8`KQA&+"H'((6\ MO8Q7NY>RVSN(/M/Z$_I=BOH:VK9E)6YG'W+,98=>4+>S1CG&;C[&]J[YN>70 M;6]YP/A%X8*YM#@@Y1435X'%/19Q&S:788P7=(SM7;YSRV'$ZO(@TL9>;+\+ M`JAR<#MZ4,G<;MCMO"W+5V/KTK&U-\294PJSQK8/2H.LQ$E03U7E9M8,50=, M;,O(>G1D[8U2YI3B".:U#X]ROE+C7*YF%D-!R+QLW6M?#5?[(1\R=:]T.:+T M.-SQ[(TAYI+!E$$=`E+1,Y_TY99;K5]:H2DU18N%DU?&P%>$A#7*@:JRD=*[N/D(:@F[*('?U7-,,% MY+FET.CIX5:GB=L?(+JI[-E]=C0$W:A!ZP`A0["K*$/#?0'Q-;CM=;2&W_X- MOH^0=51DQ5K;EZ,<&^2">ZVEBT%TQ[F[8O=A$;,,NBT=*Q"?%@1Y24"*`E16 M(3D5F$'3Y&P8QH'QI)[*TNYC(689C)A*5C1J&=H7:(9Z4VM+M<7+"0AS0&2& M<"YW3!VCI=T'1F("&;*_?*A*JJN,%V7GBCH[;0'QNRPXTQ>A#MO2[@,G,8%, MVG8^:&WL/U-$_T_A%B8700:?X@1/\E.EAGZO=14$[X>[S^B]LM6PTL.2I=VG M3XP2F#'60S`*?I)RH"BHC(W*K*\9-G;8UXY!I$@CJSJK;VM>!2D'`.^SQBF#&2@[B*#A9 M%02XI#I2*C.4IDC982H[1M(9TY&T^QR)502#QG(0C!)F/B0!=D+OWU\>X^W( M&7RUE)62>^W*<;$?8D'"O5)E*K5%[N[8?8XTB%VW+1P"X.<%`"VA@&(*K)YN MBC7L7,Z+W<=)@]B-6+8A%%(\*PZC\/-NQ#)>1YLX>0GVG@:93*?+MNN6 MKR&Y)SP;3W.&H5\PM:CF%),3,V8D:I.Q.@[>RC?E[#UN$A5'IVD4Q%0=B^+7 M`_-9NE9-..DX'UN_F).Y[18.B98^^!'KL`VI<@+"@Z M)@,)W^IONS3#[PS@[J\CU`CQX;[`#4P@&MOK"$U[,,V^!!G\M(WCY`XB,9!S M^`01M,6T[1W%UB6(3$^RUE^IC-5,(-/LS/%FMD\("N33/R_(@_2K1@!N!53- M@+(=4#0$<$N`-`6JMHZA=4PK_U-7N_V=`ME/CA\.QQ_=[OE(D80F]@W4P:UK M85CH6H)U+2EU$/_S##P&*5R#W2N8?GB)H^P9W,31&CEQI)O'(/H[N-W@&FNJ MJC_>7'^\_?+3&?@:HK(!V!#5C3?`&<#XM<*`E`)YL3/TSVA% M/[%4(SQA MC7"6[GQL]Q*"6Q9VK1!^(T4$EW\3!U$U,^POYU-24T8E+H(D>0^CI_,7_%CN MB&0$U.42]?6LDOI#,K73_:"6,W4G^-QRN5A:G)^:5PPC;A`'(&K\PYKQ7^7% M04#*2W&[\J_HCRGZ3'=)N,(VT!WK>ZN<&892UO-(VZ$"/4TX4V\^6U#?U=Z; M"5(R'4,YF-%135F5A<[PP*\@W@FBKZOHUA0#:P6+-&5@M=#7Q'0^7]*O9N^U M,@F)S*X>6&$U5Q&UFL4_<%U`*LLH2WU#]VJS@:LL?(.U?7O7=2:&EA(#4%0J M#;?4[8HSU(SCN1/D&>"]P;F;&S][[XDHD^\HBP\QK/YUM$H@.>+<@L*O MV%TCZY$=/DW,8N3$;5>[+?[-.DQ7LGX<*_4,S%`6*MS`3#74S'3AY$;4WAM_ MDE*9G;%XH#5GK;W0F#-0-B`<'],-KG'>/)TNV_)(M]^"86U6ETH,HQ_6A\,V M\/[\+-^?/Z4U/X=,Q].%?F"'FJ`T1DR`16Q7P:Q5@F:H%^>'(:_:+.9VGW8+ MRV0JG$L4H/_PC%;V<4("ZN,-R-`_#S;&\*_39U3D`VKTI7+$]AY9!4%:5'\, M$,(51'4@S,":S"Y?G\/5,PA6JV2'7]XN-"Y`_Y?O+^\>_X;F'^+2/2,!(<"L M!%GX`O'O\'_/P'/\%2*O5$E0F`#562+`[%74@1VY03'#(=84>. M'9U?GDL>A&P1/=C3`E5*<(_L$%SO+0(F0_E'="Q]#G'H4IMA>8?5IM'&-'^S M;3&W.\)%5*3CN7B]N`;7.K2V!B>ODT4&#G^LTAJ.R:;1!K%]=.$ZMSOD7URH M(T\W`_#\3^$WI!][DXV4BJ3I#KN$EWE0R$3?'>6>CI4J0;]$':S?JS2=3VE, MZOR4PEMZ9#`\&W0":3'_>5F1=WSV.KT)(WB=P9=TY$QGIG:"RTY5$KA'DG;R M5A6F\XE'Q_J43AT[\)LE;3N(QH[4[[@<(`4%;K-7#?T:9#O\2;M7!X<$329TW$_I$*)/B*,2%R5Z08.2F*6[D-P MFE:Y5@-<*@C_Z6.%@1V\(W)^8+^NK>K,BM)? M+,H-YY_:W@7ON*=/$-YN\(51?-WG(SVKS7<"1Y/I;,R<&XJQ43D*BR,OF,S: M`MD"I<9F8;<\4C&,G M\9N!.%P?A*[?%W8[Z((2F0K"$8.7:\!KK@$;6%[/QU>2B8._Q9J0Q]6<%2E9 M.`->N`G%$NYBIRHTO!FN#S.E'\;N_4%!B8QX-F+81-6`3PNNH_5N!=?5+9W; M3>WZ#G:QKKZ]PBB%B$?SB;ZD+=C;(%E'Z`=U[5X2",MD1(%$ MT?E70;)]KU]!BW%./0!I:>V:HF5?R%Y-:2PUV-M8.DX^_]N]820HD>ZEAA@L M/Z^VKR#UZYMT)_5*3%UHL$Q>&3>$.+)8#CVX*J,8C1YE58!%A(KLS=+$'-$X M/-?ND$<&](9,_1`.OPQ>S,TX2."6Q"_B6/F#Q%Z<#TST?G%-UMPD:5LL=+/T M"6D`5"T<`;*-D#1"%:OLAE36J;%E3D5+6LX0=Q-D3T/&OGGVAWW M*RN:$?=)$F2I;2NJ;562B55>%ZRUJEB^%7:[^?==L`TW(5Q_#+=;N#Y?D5.^ M]`M0ZJA5PTGX1K]RF1 M9LE-G:OJ%4.C=>`\HM6F$RQ'N7\,ZR#FP?-R*]^\LSN,2+/D]OC_PC(<+@\V MA65HKA/.P#]*>_!([4%0V(.D;%_PT%I0RM^BQW8YB3JT79Y1:1@Z>S^*9>`9 M"TG3T-T581?-ZN':'6BE6W1+UQ.L^*5=AJ*C%J?!%M.@W9'FTA( M=0SGG@U:]^EZ7K]E;C:A2%IRLMBN2(W$+7S-S.8+C^[A>G:'&LJ(Q:Y*4LE= M)"#ZA>8TYRQYS?D4A,E?@NT._8$^ZG5;91S&1)K-C4Y#?7#4:Q"G\'U:U-_4 M>)['\'FG%_C%(=DQIB5V>-U3$VX#D$;PGVDSH-:.*34S-DG9J&9,DU5O4R3R M*-\<.+W(+Q[1CCAI<<#L5CB5*O8K?'F$R6CJ:$P7V>Q/G99TX6]3@[PL,FOY ME33O=&*F6K&;G#':`!Q2]'=:B#.O$[YY6SP,7WY.K^W]'45T;/0G24<&_"4= MFV6=L>O2W+">Y>?Q0]BUTW$``'D@.@5Y"6$V1D_X/CB^&7*7P/RZ-_KI)=R] ME%MI=TD8K<+7@&RN.FV;3>T;S7R-R_)25I**M7PMD5U$FA1N:;G++B>9?L;+ MP/-Q=9JJAMP;K5H`>1/UQ(*TW+Z*O#A\@SA2\N=$CG)C)V= M2L'T:ZKR2NN<@7`#OD+\3_07\I!4E?,#>>'D7V&$WXK"?TO@6[Q]P[M-V_TS M%/)!R9-1J%2:I\M<[^<@YCT\%>4MT]GH26A@\V13Y/O3S8ZEY:M?.4?+)C'X3QNN'KS$A,?-KHZ*]&-7+/MD$%;1JDG"%WD==VKY@4B.B M95YF%TY!=Q/0]@!JT+3"Z7!!K=$X::?TX#O379^EY7'!BD2TU$WMPMLU8[X& MX1H$&S0YD@EO$R9I!K*O,7B'05(^B%K.I**I&^7)JL$3M48197W3@X].3[:7 MEE_L4R2BC=YJ%UC52LBO@UDNQ`.2_/Q;F(ZF8T=?JJ2V'N5U;5B&NAHU2B^7 M>335TO+PTT'P)KR^7@3^_@,>9P"7`K_C<@)[ZO6N+N.7((SPE]7W0E)[GVKY MV25'%T/S\FB0R5K7'5M^CX(!OFF6MF#HX"DMR_1T_QPC7ESMD\)^H ML;]_#A#6CG2.]W"%-P]"F(X<=^+JH[0<.#GJ*Q^80D>D&UYZ<\H$NSTBI7+J MUCJ58'W2&*"M`=IE@$U M9FYW.:?VW+%[2E0IYI&46`1KKPZ3!C6K<`TT:?,SSB5['JU)D3LT$,]!"O\: M)$D092E>>D^6K#OJHKTHTT-9V5I4D*])LHSUZ+>V^]*/*A$-JIX,SGVUHR'6 M=<4B;0'4&*`%B^9`T9YI?6/:4#]5A6MNJ,M]YB7]S'8'2*D2T=2&NB*\TIK' MN8,NSTZ6'?13U;S&#KK45YZ-Z5>V^U:>*A&-[*`K`IMK74BU#D=M'#X?0&(] M4E+JM5"YKWECN2?*IW@%$@K^(2X07L0O+W%$Y8J0.!%<83H\Q#C&^/PI@1#; M*$S1:=L.>ZOZR?4EIX3*Y2Q44;)A8G;I7H%C=]R56D%U>Z!*T?I%:\6$^!!7 M,QYM,9\'KR-0-8J+D3#_24TWM5Q5\6'_9[T-.&/ZN"!R[E@=VW!]0*:L2W50JYTM'Y M5W:;?`F?GK.K;S!9A2F\2\(5+/^8YG]-1RY"I2TV1`21G#ZI&0.L6S(R%)]] M/J?F;V+O]KQJ,75.0(JQ^J0=?'\K+PQN$T!*@Z(Q0%JK%4G+,ISGT5+$U)(- M[,24TU.OG'2W:6+OH;5J,=F54SA9F&+(Q1X#@(5&ON*Z,N[A!6KQ/8R>:.:Q MD8MF9VT38%_/*AW'(9GJ.M-7L_17'!HN-[%W!TY4'!,3%">FPZ41*&KDV?%D MV'Y'+W%AIQ/94M=9:)M/NOM5R?1^>;IYOEHR!^00S:=V90U7KG M#!0W"O']%D[_B8$%!BRX458S6.]ZO^^0B`ECWG(/(&K8[;P\R1O! MR>^;E@2KOP;?PI?=2VM:]YG91R&ZH,@I@:30=;W@::KXE%ZQ06]O'@A5XIG0 M'4F,G4\XY6UH>2YBF&WN'U'%7'4JEF^WV'OBHDH\[?O.BH!V/82$]YZIHLF^ M+J'J?JT6U?L>+AZWJJ=032KU"5U"YE%IMK8KEM"-IJG]^]S*Y3VV0@LC M9]9G3AW.LX3>;D@.$IQ:_@%^RSZBO_U]Y"RF"WT9EOJZEM1`/J'*>U?]U>9+ MLLZ?S>T-E."40N<:D`^*7Q3%W":STN^D.,#E`:G`F^N&B0-ZYIXC$[MYH;"G MFCN:+1;N?$R_A+T1H=QR:+?TO(CHOO<-V??^#+.2Z9=ANN(_U*EZSD.-T+1Q MNZDG^VO2P]7W"A(O'%5Z("Q\4S>8FUJ,<[ME[XI(@63F)@<1>'L31M4`_M=^ MPC2%$PDOUS1/+G8K6L\DQ-@4MIXSCWYP>UIWK6WGT]2RG+WPR%:K17PLM`UV2 MNF,VMGO"X1%#]^S"@<6O/?'Z*PQP44KOWXL*G#-&6]^56BU=C2>UO5VKIW:/ M5/5=J]ZJQ8&$.W'H%['7U@O+8^*PE1=4G?:U*LA?$O64V!BBQ2LZ.N];=VL9 M/\F$?A)[$X0(RV-LMY4769?-YPU!2\*W(`O?X$T8/.(S4^13Y6]WXOM9[/DY M>EJ2C2KC@EC=(>NL5H8]TZ!,!272Z%_QPCD!6MMN[QR1KRRU=AC&=4`-@[X&3 M@"3:?0)^3&H96_HB=4D<"/KWLK`M0"IIHG-+/Z"#61N>`VL@SRG@VSO%IR8,+I]!VY$ M1^0PBQMA`X<;S@3K("_H(-N[TR`FC!&7@AN6*2*38QM"#O9G7[L;TL#@3H"] M]"6UJF%UZ;#:>X6-7Y"CNA%=J+I92VIH(*RPYV"(KVP>P\%X>G0\[;TMSR_( M43R%+C3F:2KL'!BB*9M3<#">2SJ>]EYYYQ?D>,Y`%R2U7&W-HW*[R](LB-9A M](3SX^A[W&VH=SF>\\LVF/NG5KO*)I-_&OMO^8J(9.*P60!73W*M6D5-NJ#E MT-D276@]>F;^0(O\D,G>`Q$9D8P=0`N`J[)E=Z7)%G1B/KZ7/_XYA`D:Y>?W M&_B&:(8?P7:62WV/^+)A4.0,<61QBE1YP4Q,&\+HZB[4 MQW=0^U=9'9#Z0B^X)JF_MT=NU,LU@D:I#(9I5JV]!_>`3R/O++8_AB8,)U,%\ M4=8!=!&BC_BZYX;C$']H)NCY)A/J[YY`3EUN>8YA]YF0^4KY?AV]HG4,F5ZF M15B3T_H"N6*V-SM6Q'46B5J9WJQ8C3X]]YO8>[8J*(U1\\X$J6[<:87<]Y_* M1FSU$$.O83\&U?N->M^7R)=E]AYN"4ICWJ`SX=KSWFF-,U6,WPN/)$<3Z]OH M"TY$@W/6?`S2,/TMBA]3F+SALPK2._HS^D"H%CF./IR3+N.7((PP=@,7.'7! M5Z1]YD:W58=U=5^=<>4NA[WGAT<=$Z-3IT'!ZA-P/5ZZZ!?<1J#L&9"N0;UO M:L3`?N^MZS0*P5KCIM\L&92N;N$>E=NE M>A!( MZIG4-+VSN:V:UC_+\GWD*?W(]L>22,MG?O831+JW>5!OXTRIPH51@*;98%N] M?4(/$"9S?3D'.SJ55")62?;4I;U2^3GRF_S3$X@?89?$R&3##,3I"41TL$MBSIPS8U)'Z(K>_1XBA< MH>72[:8%2OJ`9$G;_Y2[#?/I7-_ST"J1RJF.WC&KZYO*GG(:>>,%C80X@3<[ M=(MO8I;2+(-?M@]0!Z#L`NO\LYN-I40DMD^EW;D9:IVTM''1S M]\K^X!W=XAMS$#0+XE/3$*LU#?E-ACS`8#[7N'.YUY6<<@Z@KFO77M%R6#VZ MJ36U/Q!B$+^):7((1/FTNUA,0_OGU#+!:"=AJXGO&#^ZU3.U_PQ^$+\Q(SN$ MI+J:I3!IW!L]/RE;SQ M=16M^:DY",._(A<)P<<`U5U!I80_Q MH1GA=?KB1B38.W-L#1",&P&"9PP1@@H2I\F+G*?=<4XCO%EE\B%M8Z?!KM"> M%HLEW44=VWORJE_P$[(G3?3:;(FR/&'X%Q0\7#U'X3]VR"5=SCP#%^0&4&B( M)F*2M:'.0RTLII8[XYR2&%,X)CA=`7=GH*P"JCJ:%<)W)NAS[!P+4Z^+B`)`^F7 ME/01?`HRN'X0YSX?-+\J#G[$%=*?`*XC/#OHV)6P_>[5*>SL-)11YSB,IHOE M;$'/6,;V1@^:'@8CS;_&&>G+2LUNR8=UNC&@9J5^$C^<&H_;E-!"0R M$?G`#ZL^!>,Z9/[%]ZIKU10<`7Y&`X\4$7G"(V\Z7V"F>#J48*!S#:>"?9)A M'1BJY,S'L^5L-'$G"XO?2^&4@IWK;S!YC$5F&SY$/OK+A_Q/X#5.B*6/-V!= M/<@6UJ+3$KC%CC!.F$L2Y%9I<[_F`1ORB7^<,DW.U$"VSV;'BMQ%%HFP'O15 M<&:.0Q^,=BVV_1P2:/>UV+'X-(&/(QAA=(Y68[5[@-6SQ^4C]XNQOC3/@[W+ MD9A?N&+],ES3&;OV4IE'!-V;S(PX?%IN[S9I51;\7I06CJ"C[8^\V50?GP][ M4^6/=&%OQB?E)6>>Q2\3]R#63<;V;NOOMI+?JPR*TTPT0S%Q/92K%Y^Y%CNY M0[#-D:_1=]O+P>\J63CY/D(S)VRAF3B%+5X8V'NA@@4Z.Q]?XS0D[:CC987# M?XBS8&MJ*=4*YJ)8@<]F^FX$]?6L@=.=,O4RNZ@U\RP_Q&)`?Q1[NP>AU>R> M@;R,!N*:VQ0S1UR/B[C.;#)9+JAML?46O$#BGI9C&E&:)"2MM'031FN&P%9>J=Y+GYE405R\A)(WY=9;+A=7F0F4DO?K14FDF\B#L MR7Q.&7RHNQ1R]13NU-32LDBS'=803DUTJ!LIBR5Y$.SU>-O8ID[,2X MF]XME1:+<7[*:?=1!K,,QN@\`*3G'1C18^2VKB?5QS?[\M%$%YT[)>JCUG=ETYN:SK=TA2B+BF/7# MV8'YU7:ANBF@DQGFLF0?;5W[F5L^`[8WUG/%_:'2R0#U9?#EMW,YB=]Y@57S-0BMEV]; M>7Q8F@[AW%LN%F@(Y].%O9%9/"(89"D#G/QB6JC4=3\\UZJL_K_O@B@+,X+I M.MK$R4N5:O@!?LL^HNI_'RT7,XVON\J!4WOV*CTR7<>SO`W/EN/QDB:-/Y7M M3362'B7Z1@ZS?[]ZANO=%N+[2/4&0*T%$#S&NPP4A\<=L# M<42\#2^F4X?RYD3.KE7(:3H>209L_99`&;)4WTWH5'!Z50#@9@%I]XCO<%1$ M]A;34\@(JUKOM8ZACC6&:6CW1N$)L0WZP[H$\2_W[T@!_X=NP@7SP@$ M3+%G7S,VZ`^%E6.6,B^YA*\R*ZG[FLREEI-V1)SK% MUFU*-&+?VZ`03I"0YT.PTW!H6=]\_X:CL:11VP_R@1TG]X'MSI2@56XCBQB= M$NP9D"&C$60U&\-G'&Z3IR`*_TEPLZ M0/L?=VD8P;30[7_LPC7Z4,*14E(8JR/\VK0UU7E@H1KN$96<;?#JA_VJN\N? M;7&]94XO>Z=_DT.@TRP8E,.O]P'V.@&H%U#O!MRB-4?1$:AZVHO%%%Y.Z%,3 M+2N*/XJ-<NE_`;2\ ML*?=WG6KA7:GCFFV*Y^W9,2M3TC,[92/$.9[JA8_1*-$-A-NJ@S`/>TIE`=7 M5^-4"O!+S_ZSM>K4ZM\)?%&ZP^C8?P%"2C9C'ID,RM89B5-O=H\I20R37;WM M[3/-)\Y@ M#CK<,WE3C2>,7?VJ)6^?.%WTK:_J9RY-?[.86+X@8)7!S(D<(YH&C3FC_AB^ MMA'#:XZ\@[:W5L<;>S,ZTO9N0?.(8-KV=N!HDE;"X;[8!FEZN_DK?9KG-OD2 M/CUGGWT7?P=AFN[HNUCEBUCI M0+J[]O&?`/Z;T/L2K=]+BUNNF6,-WWM_R.9SAR[+YYZ]^XQ#L(UXV#T`%'$M MSXH[&T_T9T=R]N$+9UO0CF1.[Z< M5ONFD7&=-JX8/*RM=&98VIW]KQ^X43O7"D&:>210MW0UKXF#^!#?P`A]DFM\ MLA_!%?X"?PVSYYLXB$:3Z:S5P7L-">/0-)?S#?V"NW4Y-BJ0I2`L?U-HK67Q M48:43+I-JR@PGUZ>O=V`O"J@=<%##&AM<$TBU/+Z`#<`<`M\.O)+$N]>;R-8 M9*Z>SL8SS)KJS>\>%=BO+$?P82"8O\U>B^`:=YX;#GNOAK*!9V?D.EZ15Z%) M,!(7,YF0^*0$0$4$4V!W?5(6ZVJ"6@M69GET2.S-;,(&7J>M8T*@C5&N)8QR M61F5N]?V9L!B`Z_=262"X5]]>PT3&I2-/OMT@A((FIN90/5FO`\^^X!B!5 M=/"69IN&0XGA. M0!>DCON"I+AJ;HI-_":HR3#A'PS@@@Z@O2?,G%*8G^B[H+1;3"V$%)O;31"2 M84X_&#^7CI_=9R0<4AQI+N_"H]I.7J/1C'"J=QQD\?`5_?S^_\(DOH=O,*JV MWYP^W*H"WHI!WR/R MXJ$1L^=@G0*T>Q8\GV%)/X/=81424AGQ/(2@M?.>U@:X.B#U32D!L[=BG1*T M>S,3M"^'QB[&_BZ`D\P.3E4"4D%."6?++T(H[(]>I= ML,4=D.C),9_OT]Z2`J:S0]RC=WNU:G#I;7.+,[X(2&+4EV&&E=OQO#RH52!L MUL!:9G_E:*1M]TN&AC3?UK0[KH53$B/^!S,<\UQE=BN.QM5V]V%H2*=T2$_@ M.(Y=$G-N`C,FOZ!J\#5(UB#C)JGXS0HFW^!4KHDTO0C>MJJ/0_=2';OW`E6( M9\K?4(#5+U]C^]J\,K^E-TK""*RJ&R5?\8V2+?>-$G$*LLP$IZ).C3E#_!/2 M?3#'[J,>%>(9F5T4`#6F2JVY,NB=\+&C[]YV9[=RRL0A33W[8F>U(OQQGN\3 M./8>TPO)HG-A(`+()X7K5Q)O$T`J"&4B&*:#EBOB1R-W:VI1AO&GVPB.O?OO M0K)HM_4BJ'*&QQ7#8^4,+ZZZCR?ZTE7W=*R!Y5T2#?*<5JR^`]V$<.S=9!>4 MYFB&O!-2GRD72K7`0@QSYMP4U=E-^N&7H-L7CKU!!8+2'->L=^+J,^SJ^"Z0 MOM"<^3^UQ([LTPA[XQ4S:%R58^]!@D:)CS8=2<'NF;)HN_A/5N M+RT\-QQ)?9:7?D^#>9LKJ>#FWHN]!RI*932BI0J`^K010,\-\V8`;0<4#0'4 M$J!-@:(M4TJHQ^T\%25L=U'%OWON4MD;-:)41G/NK`*TA2:2+,<@R6MRGMCC M7C\&*5RCQEYAE-)W[_`$^D3>M_OX7A6Y"][QK\[QP6LYMQ/8Y[OL&5'BGW`] M"7#"0P,W][+1*K[*T\[QOEC)/;>SS0Z!B9F8Q."^*0,($V` M>C>@U@]VFNOE\KX`Z:SN;=-)ONK0&ENCYTV;/XRM:7\%31\]J3,YL?>$V^@8 M&',Z3$CCYT8B>'U-8KP2V*"50"BT!%`%]RT(M_C:'/*I?L$;`YCW"WVGZ;I@ MVV$]&`93AQ$Y[+9B'G6')_;&GAUC*$[)?6&01XL74_1+]BI(S[:9)ZN]FE,S M3UI]G&X.Y^^,V1^J9'(H3L[C81"J='Q*NY+%X!'FD8*[+43]MSZ$ M>WA\4GO:;C%?MMU@5F0[1'%)&@>%PU$^M"C1ID>?O'1=>X_S58JHTYE0B-,O MVL''_JW9,W!C9]7Q8!$2D.9I-8#X.^OR!-4SUY^LOC9?]15MTR4O"+H>I8F] M`0!JA=0^PRJ%Z]_O7EZ"Y+T6L)."VUV69D&T#J,G/FT\7ZWB792A>G?Q-ER% ML/;LMM/V((4:9>ON5DZ;.,0IE*6GRL0=SZC-G%J<[Y9/"-T3%#.2.H_OPZ*_:;>*J/S'M3/1QG0V$Y"PB*NC>`H^ID=*=GY!]S)G% M64KE!3.R-R2*SA]4&W$GC9-/>CPR"Q6G?6>$\PM.Z1<\@2,=8<',[5J(0N28 M?[BCL5X3^`RC-'R#U]$J?H&DH7?ZOQ6I7,?3>$^1$85T[)6@K.63]*PM3+P) MV3^:67S;2UP@W6Z9$"I_KQ:@U3$J".?S=W&\_AINM^?1^CK*$++P<0O/TQ1F:?&GO&]G[,[UW3]F MQB&G#S+B%DK!W@:9[NDJTN(KDE(R&5$.471^\5?M.J'%8;)7)QJ>$WL;[G*Z MI-_'[E-^08ET^U-BL$I%(.N+JB*@-<]`\7=U_M6OP=_BY&*79FBIDJ3MRR%G MXGEM+PJI41\&!'**(R9BH3),M9V)LZ`?T=[KNF+"Z%84;D0^J0'**D=2!2W> ME5VJT/"H6&KC$V'/HQ_+[@-V`6F,>%'\N/9.#ZP]^4XWG40[;X4JH" MR71/,'+P?%1][_QPKP%UB9HTIBKLI8DGG]'/;>WJO0C0CDY(D!-#L=_"D^52@BL9=8\<:5N M#813PQB7,L;^:X"JQ346-*<8>*[9\;YFDSPH#_@R]%O`7;R@VHL<^; MZ8ME8((@&08D)N5>?C*6)LJ/-,N])7MCYJ3E,C$5BH+S<0TRQ9$?:G7+Q:!X M^!P7E_3$SMFF,>T9_?@^7NZPV!L.)"V7L7E&%"%5FZ!%;?A4Y!(^9HT`2U?C MZS`M'_[W%HLN%'"MEKG MWO'-74Q[XVPXI3!F>=GP^%_@6[Q]PVOMFS`B$9H7"5R'&;&]Y#7I&^Z'N:Z" M)$(MIG[)($1ZCT)HC0@;S^F:'%`_KDE.T:-99TS MGFJ<*X1Q28;O*QR.NF8)MUNPP)W16TQ3>T,(M,AJ8E)2"=C/&P-%:Z#>'-EM MJCNS8GJ\"M4Z,"CM!0E*F]L0E:9#4VG:I$W:'%6X&S$WIW]"'X MUHQ.)MA-O7/"H+S3HPRL(W>(=P M%SD#G,72T_>*J@`B.551,P3#CQ7TMECFB'/&]./:?TRN2$H3TXX:J-V/F]"6 MR.97V18@C>43E4&E-/@6B:U*R?&""",'',H!^T,!%$EI;-93@Y=JYH>F9O+I MW6\IO-U)VVDPE!L=59 M%@%%&?`[+B6TD=_H[S)^"<((KZ<=T[RE76MA;I=4`]S-JWG+L;W+3E;X1^)O M'4,?@VDY3@Z?;PD_X+K=7;[ZAG^$H_E2X^T"-@QRK!:5L^Y1L+51WOMPZ/&A M9__VI;A@)MQA871^61-T[J_DM;4JC1:_VD*E:77#>;\>/9?T[)TMY`4SYK8+ M0_0?XBS8@I3L?3P2K5G5M0:*:,W5R^LV?H?P'B9OX0IVO,M*(>.=FDU^]/!/ MN+Z#B`&H7)JE-V$$K]'?;O M=!H8`1/SIGXQ_*(+D/?1/<]6_>"-JZHG0+L"I"_P.^X-D.YXKZ5H4A$]UUC^ M",:E_9J,+D[F3I_]6\P&1L"8?Z%?E@X+D_LD]6[.ZB8FUF%B?H$13`*BAR]+^@']AN8Q- M8*((2Z4)5"L-R[F1QNL!1SH)Z[DCT%J1?!+'FX]G]N\3L8IAC/2,@(YR6&:2 MVN8.RWCH3:M6'\+^%0V[(,>F>!.2\O.T+S"%:/AP>K!+^`:W\2MN==\9F,W= MJ<8[,8,`9./_!23' M/YKNQUBD(1U79#@^&-V-79["U3$AJ8Q-&F+X*C4)#M1$3#WN5\]PO=OB>#LE MNVL/^+F;TV#V+TN-C8,Q!\641)4QBKN,D>!G3;H-]9G^N/Z-C<9*^4H]`FOTET=0? M!O3J-#RGDS%39ERH!I,]NLTVLS_HP>A8G*XKU2/5GCO5Y3V)742XA*\)7(6D MA9$WG>E[H+[>DYQ2]V,NKI/ME9HM7'NW-SO0ZIQQV[OTZ[]2P"--#W-HY5'C M+=R]4O,9=B)&L_%D87&XV1!L[49R`,`>S\2N@OP2A!%.O7X;W0?8"-\E\2M, MLG>
^$Y2S+K3"U^ M.59&)`;F+RGS(_B$[SV)<5\0GH_K`:02V3,$ZS!]C=-@B^?\U[P^.2&"17WN M\)D$(J_A$M+_7D?Y6Y8I?BTZ?"/[@HXSF;KZ](4%@W0XC9"4M4OH@_6+[^;0 M[V9O9(&X0(;T1`B<7Y0!25E(5A4NX08F"5SG.0L1-Z8SK>%D_?VKUH%A\;KY M?UAWMEAXA5'[Q9T1W\G=M7->59\02KKA'X' MNU>/G)+H7EGRP?&+XN#'HL)/`/E!)>^_J.']70)?@W!=-)MOEYQ'ZUOD;B7G M:0JS%/%D-IV8=(!84*E6$=&1Z%8@RW6VP0"A>.,(Y&NYO2O180JE6-4XXO<'D,19=(O1A\/&CDUOT>SZVW07O>,LH M?8C/5__8A0GH[>>`)I15L7>*NEY!N$X_(79=I^DN0)_@=G,1O[S$T7U&P@'F MXZF^1?1@_Y*J(B!>J2##=6?SV0)_&G=L]Z$"KRBZE]&<>/RB/,!?%A0UR-OU MI`X@E;0Q7\M6J3W,;VR5#M?%,[>WI-_'[E,";EF,;)7RHB*^T>N>%H0U+5A1 M+4CEM.`+6B'3F>EV0];2-W'T]`"3ETOXB%T);ZDOV3@S#G5:P2MNFW8,M;&< MG<[$P"2+R9F!!=#!U/!C50?IQ4^`5`.XW@>DK2\`U]2N(-JG"[L4I'?Z&&C# MF\R<^6CBN@O/\F6%J$S&IQ,>='Y9&,\B:V[E^"U*8+#%\9Y57,@E3,(WDNZ' MO$+B:-SW'.A>3A,$9"L48*@JWGFC<_M\;/>>$:B"OI;FB4[HC5BNT^WFT]AA-RQ,'HB0<]XY\6=Z=]K.NQ7S#X@5O@%:,T*I0B8V13'D_*>\K#U?_VV79ODF%`[: M1RUMX=[F[$-\$:3/:&)Y"]=P_?']MQ2NKZ/;5XA3N45/YRND-V$6PO3\$:=W M6V6C^5C?\D`'8#E5,3*$>X\%:.BP2F]/@W(L7JV8'@:="QW#LOBU?L!##,J> M`-Y5R+-\X<[P'W%WH.@/?'P'N$=4")1]@JI3\'O1+>_3.AJU1\^3(G\H`]3^ M6HE6MM(CCIF]FXFFAT'[PM&P0'M6*(MQ=$%NA:+\W!?_%O^\PB9HA\T.OC-0 MFIV@[.5/?,8&8S^/UO@_^&0-^?\8PWEV$23).VKY+WA!,%IX,Y)US'%TV`\F M#'(&053,NHXSM5%^W*E'/ZZ]P=+2P:"#$`%7G/@N2S)CRE#@'E.<1 M/H51A. MB56J)$:J7SA/+OFAUD216::\)5&T8D#!EG]`!5NJ4S`:5S^S-T1;E7@.PDL8O;G4]#Q,:V$JM?:W:9D:J9Y\I(O/N?U;V.*" MF9B;A-'1I&HD<`/-0[@RGJ"*ZH#4!V4#JG*JW07O1:HQ5U_`UV#_:?R_XS4B&93"B("#"_L:F,8YC*_&IY16TZ82BYVK%THNO13M;/ M-*>?R?[S&2&9C'E;(NBJ'(.O:G6@+0NEX:GA.*DV.2>(JHGJZRSHU['_.$54 MK.-.$[W8!F:*+\HR<:(FDQU^_NQ%-Z< M\WB""L_N>@JQB,94SNT_I-(A\G$=5SGP?J'@+0D>M^ITND1S$;R&6;`M;TY, MW*F^I_+8<:A64W9Y^_6QJYWJ2]+#EH7]C]/)"7><294#8?OT64V0>0O"5[\$ M.&9H0K1&IQCGN,&/2M_9FB[L3:VA1K@CSEL<,/,\!.G!K2:2=)A,5K5IBO.& MDVPB;$.3EOT9P1EG,Y9&*P;04)R%_9$?,-R09AX[7SBCWK6T47U/FLIZ87\TA[!@2/NQ"9.T`*`EN9^5J$M"T.9 M+ZK*PH`?+YCKB\%F!R+'8RF!ZRQG;ZCX=MX\-Q_VARC("6?"/DLA))F/.Y,2 ME6W4DA+IURHMET=MUJK6FZ,BGS6WB/8'.L@)QS'OR-T:E8))5(O<"WTM5.M' MG';G)_#X7LLO&&C7K'(#=#I;+BV8MM1L_*J07TS?#CV: MU7J0\L]NPN;P`Q:U=)0]>7H1KYK?^2`G'!'G-38$/9/9F4;JI=J MO20SN52S0JMXEFJ]GY7N[+OVQP[("7?LI1H;S&JI5N1%#4MUTC])50[1?*+O MGBP_'E/:U2V_F)(UG0^:+O?4M3^804ZX(TYJ;`C[)[.V]SWT:Y7)]9D56L6S/NO]K/0"JVM_D(:<<,=> MG['!K-9G/^8+M)^J0[7']]97+'0I5]T]TA=#RH_'E*YURR^FE MWQ"1_]_":%T$^XZ]Z&U.!\FF=KJ/?0-+3U#\^R/#F`3PMCLSP3'_QQ''\BZ MM[C34.3?4/V,NB83>YQ7U#O,;7NU:MCIL91G_Y$\CRAF3"\S'K\HBW/I5I%@ M%_R/K!<-/<3GJW_LP@3N)?8]C]:UO,RSZ4S?O49V(&IX+R1PFR8,-U1]0'H\ MY-E_@BXGG$EM$4)8Z<]##/+ZASFI\0UZP;S4J*45A.OT$V+=%_A:ZO5-&$'T MGXL$KD-,K^5<7U`E$P9)51(4\T['LW\_'2,S+]#"!1IU+\ M(GF.,H/QXZPTC,QAV3,$*=8R_.9\H64X12`4TZ_[YR"!'X,4KB_B M%[P]%^#O.G(6R[&^>/[V3N6TAEF0NH*T5RJ_PI)&\2SMWU9C%\3$G,*,QBU*#,AUNAW# MW5=9KO,(YQ_S$C^=`52(CZ,7<41L;_H%OL%H!T?N=*POT/FP-SE*#F.ONP"' MI8M%_WQ)CN8G)Q!LQR*""9>8`8=?E@%Y(46\U.+(&N)EJVO:/9@.'4S[-_I8 M1##F;#*`*EWL']G0D`B$^:7'Y9?5`&H#B@/:<(5.WS"OJ:%0`0SL(W3%+PBW4AQ,WR:\`N, M8!)L4;?GZY/U.DQ)HF0_L4(+6"8'YV^0FRO[%2&.TH]P$R>0EGL(OL'TUS`BG[?8 MT#G'-S#KK>!`LNS]5Y@]QVN:"X]$2R.RC5U]AZ(&)9'=DSSFD!\\8&D*2/)I=^\;ARDGMD9+G_2(TA M2=Z8XE@<^F`GL7L9[E7$LI5Q=V5KI+,@[J25FO./-B5>KHE:9Y+3T5/ M($YX$+\Q#V8(2>EC<'(PCLKLT7O41Q]VNM28";.K7TENM5(YU.> M_8=G7+*8\"9X`/GUPL6.@-#I``,5]%C:HS&[W0(/#_Z2#K[]1V%\]P/KLO'C:?&;2Z,F2;XM*M.?`9_]*N5-I_R&/D$S&EI0BZ/S;UJGA M3WR*4&;%SSO$R[2YJR\91Z,_.::SP*]3NU&^&EBZ![NT?R>>2083UIP%2.W9 MA:*4,H)J<\94WH=?FS_=AV3#,:<;A8TA;-=*J=LM32^#FW,8?0EC;/^5)BY9CF)R>P"UF%YA?WF8"UK\Y*,QN]4O'AY\ M>L-L.K;_4A27+,;\8!Y4+?06]7WW#BET;H6T]*B(R;TBM)*XY8R`WD&;CNU/ M:L0HA5&3W`NEQE;AEY]Z/[9>9]@(7_L=XK;AI>^_C.T_'624PKQ3W(O')P&6 M)!-H7(8_<7(6;U+TG$C,QF-]MU'[.Y=D,J]@>Z3NK5PF_!OGOIS])XG\`ADQ MS;RH\CTU92>+K"31XSQ;P/YV/YKMLSBYJV?_:2._0.8\:EYH'=O*?+S_`E.( MAO`97W:%;W`;DUS1)3OF^'A'E]'O[5N.];QBU4G?6[?\#O-\2\K^,T9N>4P8 M?%Y0?E&!9AJHJHB9>T9^:+'VQZ=]JZUG_"+Y#&S_.2*W/,8L/2^RBOLDW4!5 MA8_SOT4)#+;A/^'ZER",\(+A-KJ$2?A&+JFBU9WK.?I2(PWT+L=[?M'JS!^H M7::3=&DZR;']!X\"$AEC/S\V_^(9-0:1IP,V09B`MV"[(YD[UV4U]+'F%RNR%I0&YW69HAG4/.V&'R%L<;3_5=QQ$# M):=#R@:BKEIBC98<\&@.9,?^DU1U@IKPOI2A]8N60-X4H&WAQYYH>JA:<[*I MHF09JF5>.T55;9T%93E!S;5C_U&Q.D&-S9G*(%?Z&N3Z2A)5I?CCK/$$NPJV MJ]V6[!_C&?91>98KLFF!'TU)X#/R=]'<76UL?X;9[>8A^#9RIHN%QL@V!@@* M-MWXA2P2'K-5G\SHEG3)O,JY&DR9CG4%U=:J$ MGN-#RU1B*:02L\4B#[N=.O:>C(N*H_W(41"8OZ\4_/<56?J\0TL]G))AA1:/ M*;R$]+]5-!!R;8XZ7_3CTZ\ZO./#HU<#;3L3S\D7!/8>[VN1U89IB@6\DI:!=;=I<^7NC8&\N@7E#M*SGED'-=7NWI\H]X\OTI M/Q+FC+'L2`&AYU:=]LP5[=?EVO,MT!-UQ_[HA4'\QC8DAI"0S!4"<9,]6O(I M3F#X%%WLD@1&J_>')(A2I!;XW:]H3?Y%MRW.UW_;T;1=M66%-]:W6:\'M+XI M1NE`-J*%E'=:13OFML_^B`MS`V$L-L^$-'WN*4T@2GL#17>@UA\Y5JCU"*HN MB4][JWAC1H46&?=NOU=SU!V\J)&W^=Z@_9$PY@;";+"D"9'\PN:L"IN3U6Q, M4#;!Z>C4GM6FP!&T%G%JSZ!KO.G/"4;.%$A+WO$`/$MCY8'8E%Z<<.R/Y%$@ MH0D?01XF]\OQM[_>?;GZ,RIW_9`?JC6>+B=UG)6P" MZ-Z+94+AXU(`%P.X'"@+@J*D%F961Z964[."R<1-9T*'U>Y#!581V/FYCEF8VKM=SB&!D3-F-BPTTXLX"W\-LAWZ M!"%,O\#7X)TXZ;>;NR2,5N%KL+V._@,&R=C>=3FF/[=+P+4?&T+WL5`?411^?:-.H+?`G":(T#$S\A90ZV&`0BUF*I M[]ZX+#QCFL8Z.`):U]$T^O3?C>;UBFC2\Y?`23RN#UGA<9V!JJTS4+6&@R_* M]O`?\A;Q[VF;`#=Z+"T^]AQIM1;+S)VM3;O$@,_,S(>NO=:S$Z_Q';"B9VK4"*W69'T0T4CLM=!^[$7\\A*F M^#G*VZ]P_1#?!UN8GC_1/!,(80K7Y^D=1#"C+'B"MYOSIZ<$/@49_"6)T_0N MB5<0KNF;F,'J&5?/[QNFH\ETZKG,YPX:DX-!+B[,YP(G78(`G(Y-^\2FY"@Z!0\)>3J M;MXM31@)4<>D*5R47@<>66ALW/^R-:PC9,34$&]\,;$WA,;@"&C?JC`GBU$[ M@W]:H?Y07VD6K_[.9W;H8]VWFPU$R[RG\V\AT07Z;AZ3:])L0$[+V0!A[6PI MB3_#/#?W]OK-P\!-3+N#*'Q:`A1%P.^X$&=_B,?="'(,-J$2HYU M@VJR+"]+!FI.!\K>Q!$LT,TSK15'DVNTF!3;;L((7F?PA5H0]M561RLJ.=<+ MK4F[JC@>M@6=:*;V[C0QHC=/OBXH3?[ADH`4E>+@KQ"G&2)?V1,D(&U")?NZ M036IEY)H,HX6DV+;0_"XA>2[+@7)1EI0R;5.2$VJ MT:)$,1TZ3/;&`S(@-T^T-AA-GI%2G#0SLO9FN1SPQ]Z=:)P^Z5[3+G(/S>ZP M"8.CH/NLS)PH]4T*W!=XB`'I#9#N0-D?.$]!U2,^$B[[!*134/0*<+<`]TM: M*A.8+@A19O8><:H64_OA@F+` MA0*3'7WP`22"2MFWF\[B;IO_[H[MK`7CX_G?1O MY0]0JKX53;<"%_;NYK/"-TNR5@RF=O/Y*6=J,W^`>`?;T/3(;6'O?CZ'!&;I MUP7#V'X^/P7U;^/7U&]&:IU@9!S9[^IUVV2^!?\$-@]S#+MG`]FKB.QVS6FO7E:,:$IV!9 M6^&I.W/MMF0]J'6SJKMKG_X)D+^!_(_JJ,1T"&F22\T4.LW2SH2.CMW&JA>W MB>/'(1":J<42SFR268V=NF9AEPZ-W>=I?;"-[*3U`/#+PZ9MD.'GLT1(]6OP M+7S9O9`.;C=DQ^XZ37=X$OT-WTXFOREF5]3SS&'.7L?5M!P59:4H6,K7#G%% MR$F#.[9[)TY*+MWSL0PX/Z^P?* MI'GT76XWM9UNNH5-K.!BZK!J"7?SY6>DXD+IUA-A9'Y1 M\R`\H:B,U:9^3`J*!HPI"I-G?#J:TO2KN1O#GB/Z>I8?3,J(9-50-W6R[]='9[8Q)2&5ESB..KEB3DCEY8Z,G!Q;PR&T%98!6G69J? M[?.J#\VDA/PZ=O=_PKR(X6Q<3G7D)2D4A[>EV7+LC"?4J[9[XU!2,MU.FAP\ MOZRN<4$CS#(F+^TT%*;IH7$VA7-?XT]'LTB-[=X=E9;-E*\F"]1_>(9H%BET MZ(WHT,'D0R<=K$H[HDK9,YY^H@S!W\(U@/1`*2X.E((D04C):Q2<>2R$R>Y]45"&:$==.$J1__H*31]54+'@+PFU-F]@TB?=Y MHQPD7%_N<%/T:5-ZH>(S_$K^E(X<=^*V;;NI>M:(!82=SUBR`!658O]JN1*ZE%'OV@]KXN+263]@E$ M!IU.%>+3H//U.J0?N+9IOG]-G=PS'\T\=\8<;2&`OO"WV)L83=VRO MJ@C)HGL5P@O(KRKLGUD>IC`@M73SG,G9LI7HSIG-Y#792.VFQ\36`IG&T4>PVU_BEL64M\0+S"]9 M7659.0,YXP-$_UW>CEZ:LW@Z-K*\X>6P->#2X;?;Q^$5Q8B'PPE*$[UOP@!5 M(P_&7>R2!&^T.A-G0M*N>/M45O045Z-#.9XS"5`^R]4LC-U'Q^Y`]1[4[$Q] M@\EC+/PT:"<"O_8GL*)_XXTTRH(P@NNK(,%!&2GB^>YEAV\%KB_A)ER%Z(,N MQG-/&R.'`<@&(`D(6#"6'>1HNAQ/)W/Z8>R.(1<7RA#?A0'Z10VPIG_G3+X8 MI,]H1L#_P;DAWM!2%5G\\^P"K3_?B\"GT0*__ZDM-RH+!#F%$)2R_J`M4Q/% M=@Z_GZ6:##G[[8^>-"N6[V6.2 M-GTRM3<8FT\($U:?",N!"]S)`"V]M6@:T\GJX@>+#+!"%GE_Q?50*T>N!19%)RG*P9VANP?/* M*XF10_QIRR^H1D'8<4B>T$K(6Q[1LK?AC#V[,[9RRZ(]>H<3D$\K`%SCPR9. M/N"73\]`40O]A.L17Z>LJ5U%M"P&+%:19A0#>QO3N>=Z=(]C9O=.O[A09J(: M1.%UJ!`:LS1,,[QZCC=@BS4(___C+MRN\>2C9#6-\\\O)\9WG*0?*>`0IWR2 MH[O*9$*]W9G%3A6/"+HG"48X51"C_" M"'E>V0@ML#7RN+=O22YSRE42NK_>=$:OGT]Z\ M+:Y8#ON5(S"M60>3^>LB"S)<3 M:D'LW9SGEL,(G7D0^;@P0)89Q[OC-21>-P9T;?F,UI;$8N/?:^&Z%K?[^%QO M>-W]]5S7\>CWL#OQ%H<4NGUN=BB4X#_BPC]AGM?*8ZK3&GSDOGYY#<($SP*W MF^LH0_C"QRVD+5U'.,XG"C.XQ;D?K[ZMMCN\\_)+'*^_AMLMHL?8T;??*`-- M3C44#TJA.5+-8C?479+7=29VJY9*,8W,,0H!^U5;8/4<)$^\RP(UU-,R%YVZ M/C9F,JEFO>GQV/BP<+=UV MTSZ1?0()[&$JC@GHZN4,Y,A``0W4L)$CLQHZ<`@/5/AH/GN,\`P4&,'N%=^0 M)SL`":CAQ)D066KPPA[V9+^NCX;&ZWOZA02MU^GCJH?7%)ES%. M(,\9F412!W\,4@0-62ADGJAYJ?(*?7ROBMS14\?SKT&ROB5?/_T%%<2+?)J( M>.0LEC-]ZU>U8.545_O`E?FU%7?D.4N[CS+U"*Q;Q[6@]DF5#X^X#JBW"VH- M@\=W4"^7-PY(ZV<@;_\,T![P!%XDR<^75,@)V<`0OXDL$)E;-UAYR$(NPF0Z M]>;,*99ZVY*/N.6"B55O$%-U.9+<*)XM['6_A61A5QCQA$HBP/S#F>\,%'5R M8FLA,4L&O.-S>"%(88\Z&/;&:PG)HM/FBP!J4-<((K')>U#3^! M94RG8SJF]N9?$9!$MX_`!TO4K*GT=6.YTA;.C+#52B@]L[+M!!+ZH\N[-T%.MIXF)K!CB$?OZ)=`W`&*(3:1A+XPGTQQ:#VLW'V!FH>;3QT M^RW'$"HW41_[3=3'PD1];)JH#@MU:@:*9^YR=JN/\43'2 M-9H;NP^93`^%W8LI,:'\F@&A3\@_T3JP#@TC7]@= MY24NE+&%@BA"OU835%5!41?\CFL#4IWWJ)>33$SNMX5*T'2).3]&'D=J[]N^ MVF>,H&+3#(LN3\!<,8+;##I>VQ&140Y91* MTRC5GW12TD490)[[OQ;GKS<,JI9!T33`;8-:X^!V4[TSA=K/ M]Q!I#\U_G>3$+K2YV*V467!1;GO=U4*W^C@$2YQZVO:MKB1V'^ M"%<"Z;N\60QVA=$*"(`SDGP-N5$;T9PMVL2FY[R?XB3_%2[G8"5K.V^RW&2U MRF*I'6,<=R/&K15+I0_YVL'>7`WV#-!).VJL4IKQWO(P-'SY!]0``>[YESP"=OO_(*JHRIY(46>5_>\0ERU9#^B2;2(*? MSSN)VX9#'AP?``\FEA?#A5%@=%>>74UC)M'X_:K;,AP^C3%;!G_SD/ERS&YA@> M5`6_XPV(2WZGM+P=.:&UZ(1:L$>ZE\$Z<'7M4]M9&9\_S:\(V7]PHG\`C.FY M=E%\>D,KSM-A"%VTN$OB%83K%!\97Z?I+D#?\7:#`+_$$6G^"\0)Z)'9(7>( MVLY26Z,0V=N5TTXI_$4V=IY&\%L;]EYC$I1&IULG!LDOJM!`I*(2=O1HM?QZ M8EE1/^V9HLQMYOU^U#G?=W$F],O8&W0N+(^)F'-1<-QJ`'81^CID?8]&-$.P MMVC%#_^QP]DGX\T&S26H4%!-0OKUQCMQM?'$M89>BYS;NU(2%8==9]Y@\AB+ MOK(E`,TVC2&]811P?;G#35%WCJ0I^@R_DK^@-;D[:7V10-%RB@6#Y"I)4,SR M01RV^IX[MC?#*;<Z98JR)Y/*,4'7PM7JQ#8[RD8VRY!6:`;YBI;1A::"J6 M#GZ_*WH!$WU;?=?EVGI42M`.&3KX24OCL?7HV-J[R492U]@Q>:H[1D8;9REW2IG;9F`;YN3-[8SUY1#@"=]MP=+%7 M[.7?]A4?.6=*]];AKM.R-Z=UN^$`A);]AF%!"Z+S@1U-E^/)(M^6M7NQ)B>8 MH8T]*9"UH(@(?LW3S(5TXV)--RZJ^#:[MO=,ZML1M_=XM>V@'?*YQ_1SV[W8 ME)++#EWKQ5CMII-KWV&QFXY4;T5WTXGV<3YQN@W2]';S5Z)TV6WR)7QZSHJ- M^DOZ"L346["_,CW4GASWA>!BX@]7G"W'SI@$>[ES>^/`N>4P<:+*"\HG%?`Q M4%X%W":`5#JK#HE(/?9I:6WA1VD;U-,-\EV)_/IG%H=N^/$5(JI6[<48LTG@KB:".)R(L`-4D_G M*VZR*)&617""K++9HVBQEGCK[T"+7<5:/'E,K*+LF"X9'*X?L MU_Y$-%C;:H0E\-F>Q0C3O-;B,N>6TNZ@-6Y9CC%#]0'J7H_L+T>TD9GEM11[ MR,QDWO?JNG3`Z3Z[Y7NV_,(*.\C-O8>]VT"!NW::VKW._^N,9?F>/_EUHV5VU M=!VE64+VJ0JO)(_HF7E+E_GAN^'V5'&/`V^3B-V5Q[.Y:_=V/(<4YD@Z!*5& M65"5K=:>8G%A/&Q@VF6WB;[-FTS#M'<^@ZE$5P?MD:!*Z5AHKP(G0MX':G,$]['K/)\!_%`VN63W#]6X+;S?M M5[MIU,+Y+GM&'^6?@9D-U[*4;'0;<9,"F,7W2&3Q/N:[FZZAV> MT;^DH.HSCTFB-ZYHMX#T2Y8L1=>`]`U(YX+QUZ(9**Y(>%0U?:>WV3-,'IZ# M*,]-4:9`HZ%8>%B6&D.Z3..-RE33.'P7,F=A^,&!\+[;;-L$!^ETW; M>T_\\7W/]NV])WX&:->UI4`*2.<@0[WGQ@_9O1(`^I%`L-[2V97XZKNW=(T# M`',8I@O'F\SII&]O/L>CCHF1XXAC2>=782"[+,V":!U&3V<@BC,`1:-!!F5) MNX2IPLRB-78::ZO=^;CUG-J0:1)`K-D**1E#9GLCTIOCSE%WA&=V[ZP;D/[H MWI.T"'N!GF);3&K7K/2.ZMC3=XBJ`;`.HZ!X!/MM@EQGB%$SNIN^M/R>I7;A MCV,1%$K@M^_EB%Q,%H?:!%I-=1HWG-4#/IIA8!]!!8:ALS/$K/F43C5V!Y;K M%]YBP\`F0>?."M]N<;MY,>UY-$6^J;)BC;VV`!D+;,S)(YRI.$)II"(*E3=D3I]8+M:Z(9V$<,'WD;TQUSS9(BAJ;VA*B3AUL[JL;PE_'(<>/2J]M./KD;"/=O`%J:?M?A\+GD[9K/+0 MNE#ZT]'2U3S!W,,W&-6XU/86E91FU#HPHQO]$O%J1[TULN=)O\[R%`.LN:2S MQ57KAL@YQ9"&CJ%-2ATV.]1)W&EK?$ZZ'%U^'PN?'NEL<]RZH0KIE5;GK96# M*MTW.[1*V(4[^);>.`\:^3Z.?WJDL\J-Z\:)CT<=W5-/^*W&I[941G(:4C1O M2#]ZI.'6CK(M8N?H9L_R%._>XQJ>V;#AR&E(T;T@_>J3A MUHZR+7*0[=&O\GUF4S1KWK0,@[R3S-3:O/VH=MZ,KD(33MO<177J"X'T? M>]6=LEGGL'4`%=`DOF57^_[N'G=*9M=+EH'2G\Z M&HLZ:*TOR.VE+"G_6+[TB9]T;=N#UO?4[1`B.6U2,P98GV1D^,_MXW8T<2>+ MF4LSPMBK6JK%U*YEB@&7^89KV79><6T%ND<3'-]N[N%JASYX"-.+8+N%ZX_O M;11LRV>@40W9P6G02)F1&51.]L8I'Q;N?.Z15S47]H9U:Y3XN"HKA=VGM?&3 M,&B^?4&N)IF`4T#2=VW?P^BI=#X;"EW_Q0WZ"?VR^!7ZGT`L``00E#@``!#D!``#L75ESXSB2?M^(_0]:S\/6 M/%@614F4.Z9V5N6CQK$NRV.YNG?W90,F(8G3%*'FX6-^_0+@*0DDP0.\JOJA MNLJ6@,PO#R02B<1?_OJ^,P:OT+)U9'X^DX:CLP$T5:3IYN;SV??5^6)U=7=W M-K`=8&K`0";\?&:BL[_^Q[_^RU_^[?S\RH+`@=K@Y6/PJVXZ8`,'M[J!OVL/ M/IW]>GOVY_-S_Y-["VFNBC^*S,%X)$W.1]/SD3+XS\'T%WD^>/SF?1!_]?=? MR!\OP(8#3)II_[+7]Y_/MHZS_^7BXNWM;;C?`FL'G"TTX5!%NPLRVDB6I3/_ M\^\OEJ$YX5?(/X?(VN#/C:87WB_#CY*I#@9_D^EGIIPJ^2+D./$3Y%_GP=CCW7) MUG=[`\-U(8BH:^@`W>"D31-"FZE!TX:$+!L9ND;LY0LPB):LMA`Z7+2I+W8C MM#T""Z.ZA8ZN`H.3T+T`2J^1ZA+Y8O'>8.DZ'W?F&I&/8;OB($L#4!>A>+>Z MB;'"RO9L`=,&*B&'1YYKIRYB[A$P%QL+0H+>;[JS_0JOP%YW@,%O&6O'`&\; M(=;!I/D9O!A<[F3M",$1Z-:OP'#A-PALUZ+(<5'SNA.B8RQR'H!E8>5_A3FD M^+HSM=H(7+F[';`^ENNK+<"^V+XSPX\MUTO7NH>OT'C&Y,)[';S@D,')Y:PQ M,S92]?4K0H8A1#&93.'U7',-S,'"MB%=;&+4^Y_4%D[XY9P,`6#LP/JU-G[X M#>UUYXA0G2^NK9O0]H#\P]4U[-DYR'F)UJ(*B5DY2/U]BPP-!\,WF!@N4FPH MC641Q+@O-OS#Q5*Z>>7T/YB46E`IX'ML*,;UG!+'K=+8?H50%/B]E;XQ]34. MFW#0HJK(I3'I(PZR.$-E&]E@WQR%]/]05'@22_0V.9G=[ M'-;2X/#FG?PUCZH2?O`?>*O:&%/\2DR(%1$#?3>!BYTQW1F<;A%6#OZ3KB!X M?0?V]M9`;SSDNJJ*5^UUH_0N]]`"O'$Z)1@UBR]69@OB;]O8X]XCFQ]G$6LD M,UY_M'3\LSTP'L&'1[7Y#*T=V7KDV63L]\@1$\LQ-QD^A0_06:ZOX8MSK=O4 M#O.0[!@FTK3::":9#?Q;`VK>8K=$)[#>P7FMIU[?,-`'N2 M!9TI&%K??S&?Z':V/. MT)X0'VVE@:6>&,CA"8+_B8L]S0J?JUO]V&WC3Y"I(%Z7+*C=>^J0.!X=S,&. M!=)/AB[@@ND#N-W#9#092;D%8EN=S M!I.LA29KL';:>#;?';;J5-F3C4W$^L<#<#!TUV@'=',HCZCVRD3%]?D MKQ9R]S2Y_0WN7J"%13@9L98WINH>?[L27ZR*V`J_^&B1 MO7@(X.)=MS%PBER39J;1(4!!\K$=Z`NGDO75B5%SN46N%;,6EGXD6WWTY8:- M/H&+R.;E7DGNB9Q14MV>R#-Q^Y!PFN)+"QW"EPRF=2:6U@IU,07B0/,2>.NK MN_@&WO6=N_,9EF6!:\G!5-6),TD/`X$FSD,%.T!Q]!/&S%T/[\XI MP/2G:B:&@L?18@"9W&'(\N9Z[[%AWF$KM2E8W.LRSX@5YT#SBC@WTZ$7ZK(; M8@=AT%(AO3VS7#]`Y]%":]U9O`',L$9C&NZT=]I(HG/>::H:AFR\G$8+=[^R MBU\L"-2MMS*08P$7&#$3(D!@B'2D40PGO&+G';4-*E`(`5\=QL-1OQ)/H0T\ M00<3@3FXQ3BO@(&C"+A&%KS6;COB#A\-OMT'LJ1SY8IST+2[PZZMNWO>Z5[-ZC3=L M1(%EUAZ?*4OF$&T0:#9OOE2G?9-J/`9:;#86W&#.PQK:Q8Z4)SY!#>XH=]1? M*47BO^RQVZ`')=#P%636-P5Y0`ZT'\$'V4"=0O($]UZ9M8<-182[MB#7T&U0 MC^)8^-HQ[YMVX.A'A5"S2=ASC^$P5M!Q#.^ZP%":7,Y9ZWPU^=^TJ=N@+-S0 M^+IQV4'=*%L<.1J-!^>#,/5+*B.7#]+BZ M&:S^=G/SO,I;%\G;]"!W7:1W\_;*M0C*87'=3!)W$LZN1!U=ZYP0/2!U9W>TAW.YA-QQ\%<)%1BT'S2"H/\O-#TX'B'G272R26? M8,OZ!%6(P2!W`HV@Y'X\&\+JRX7A]3S:4#Q"[WNE8$A>EIDU=I^BY(>AK ME!I;=!^0J0;KKCP?LPZNJQ$^<\XZI9[-=%^#T:\(:6\X'"MWT'B,B<"8JZHP$0=-4T4PK0*U+B$BC'/5G2//?*%@K$OB<:@DCV;B MXL+D>4OHHM=`)CB4"@+ZZ8Q9KE61;C+GK$17\X@F5-Q,"/H:]F+.+1<&B0<[ MR#SX",2PI*=4W(59W,,V*?("C/R MN.]K`+S:(LLAC']!EH7>R"L'0TD9S<1U7F',V)C4L[@/;5V9]DKJ'%@)B4=% MQ"ZG8V+RI;&X=/'IA'7I[TFTG<%[7T/O:W_L)_@*31<.E?+$+=$+3F1^A.U-G'4NNYQI:^BOMC\PVB+DL M<-N;,7E+M",'1'T]5,@-HNCM1OGP(XM/LGVHAY=FU#QM!W7`>U^W3BD83:5+ M<2MAZ\-F/F"Z4]=4K:LCMB%/&_-Q[7,6V2CYJJ*T7U7R>A#_FLUR[3_H`8Q' M9.L4]LAD%(%MXC@HJ$1CBK%Z>!3.J-/HP=Y;+')%O'E?]ZWD^B`R*0;>52%% MDL4=RA_/5I$9\<<<\4Y*26SWM8_.0M-TC^Y'H&MWIO^H;0R*X70N":S(R)R_ M,77(!TU?.^LL5-7=N0:Y>.I5*L3?4;LS5;2CKZG=(@OJ&]/+_JH?]+4MPQ.' M]@_7=OQZWN7Z&;P/I\JEN+I'`00WIX)BP>]KVYXG\F:,";4;8)GD?#T&XS5< MZZKN#*792.!K&-D$-*92.;'I:YXM2C7>F1@R-^B5\#>H;4B3A"A#,Y_*X@I3 MN,EH\`BX`%"A8^G9X3"'P0G)58C(P+)2"8H\&M?(1%U.\"2IDL%[AQ.QY=N: MR$7:F@P^/5*^MM#156#D?OXMJ\W)P>B'L.7H>=*C-%+6OAT#MK3H;!K=RSY" MBS[L3?:TXMCC(*`%2;*<,/7U0#H&`^797KC.%G/V3ZAA]B>U)'R.)VZ7=J3! MTM?`.!=X\T[[2$^\=[;M4M'*,V$L)4Q:O[;/,[7]%([.1$.OT'I!I3S@TG5L M!Y@:WAAC!&8UNL#8S&WT@0G`=/AHNGR@3)]&1JKKQ\GA7\FKR#C/^)O#<68= MK0W5X0:]7FA0]PP1_^78_O"/#H:MQ-8*XAIF6-AL]C7L7&!>-<+OK0$VP^PX MDU>L!^.V0:Y)C/8U<@S@\IZ=N#$UVHE]9%>S%!!^;HWVB M9P/0G4J\?,)_M@#9!*P^=B_(&$J9'3-Y!7XP;AN$G,1H7]OA>Q@]P0UY]@>8 MS@/8X35L7I4G9PW?!C%GL-WA!O<FV[]_2\K<2\P6[$EY>="Z[&I?/!TF7WT8NF]*6 M1C.2Q\8NTD"V:T'\#__LP-P,:%$I!AI_,]R$\>6RPS%80^1/8L,7)R(Q%+\D M9RYC9:KT6',63VQ'E>7AV4Q,I:.9GC$N7PR_T%S?KDGYL&'G M+/!BN@`R5SC5;WBFK]"?QY^DE(^(JE7OPQ?/)'DB[MY!PJ3%O0098KF^PIJC M.[=`)66V']_`N[YSH]9Q&##\&WH+=#(1V?^5GY3*G`.7!*/K>P7!ZNLQ6Q:" M0NI<:K$!?RO'%*OWDI$0WO*04HL-G-3R%`:K,R>2N2M\6)#<`MVBQ9[+M??< MZ<%.`+N&::TZE$9.>_2(&[3.''96HDLG=G4-;=72O3>6,2P"7_#(2TY[UF5N MT/IZ@LH%BO^@]W+]=Q<8^EJ'FO>48]`T/O:$WUB>C+B?-J]X\A:K54$$^WIT M6Q"SX.W($]0H:*P[M%6J7>+LG=([/@S[>K1\B/*=B;\.;><).-"[>>/C!39P MJ"ACD4T0>>EH1KF*X=37(^I#-+X!QR5PAXW/VTPTSH=#=\XM M`1HK,*S#L:#O?X`T%TR40"+Q5[X+EG*!XU+DSKY!I0GKN^HP.#EX)1C+W`WOE MYFI&>RK$)UA1>E&4`VUZN?:B6UI.^V3HW[]BT=!MBPU)A^$O;_ZT]5$:R M(N[*?`&*FHFXRV(7*%4/`V_/N*C=T<,C;&5X#$=_,>`#>A0PI&W.U7,=06T&5I$3H M:PK*>"*R>5,)VAI7MI)P!AK7_B*!:C3.*Q+FPD@1UTBT''&MTKDB@`9*U_YJ M@E+)[1@0$3XTFYJJT1R++@@A6_JOB M0TF:"BP\X::C&:4I!E.@-;T[]8_Q'J11:)CY"#YHY8,B3T6VN4J=O!D%R8%( MH!6]RS(&YT*^*1`,L3G,+K,N!9;Q&BKG36PB7 M:Z+Y)-?E=]KU$ZFT)(5U38*Y]^8]@VA)"\7/>V"\`A'+YI$*NP22F`N`:HR?.VH4HB"8>PEKWMSQB4K(BP MXU5%WY#I;!>F1IHD4*/@7@LX!VV#(^#C.*P_;[O\2WF![R;8(1P/_Q-JY(XH M*5`E1B#NOG'F]&W0D`Q4HBBQU[KQ!=BZO<(3`FUI_@HLG>R0GOQ"FZE2C$58F]9V M;UCL`9FJ=XMY.)>G(IU)ZN1-^1-N1().!KVK"3@$[9DF:3%@]HMWW1[*&'%A_/:;,Z;L_@ME_O8#=MO)3MMNN=L`,3D]#VN>20)4[GJ\9D:6RW9JU.2_; M[&4Z:7$[!:EQ72W;,$_F;8,Y^$37ATJ:X7DC'?+T@W7%7*E;J+D&=H-^C#WJFL8;([>+#T2)"[:C[ M]6@J3JG39B[N[EFC1JIYJ0AL9YHZ=25FFD]88;T2+R0=]MSEVQG+W.8Z^/1` M+D^1[&GQUL4L(PZ'+=NI.!S]2]1A\6\ZM##4VX][^`H-&HY+EY?B[ICPT5"! MH<<1/)W)WTF,1[,:#)^'E&H=04X!G[B$O.!UV$7P6DQP(O)!;^!2'/&PXN[_ MI4Y=@7W$3GA\:6M+\XG$Q8 MJ!;,&_X5HR**_*KMD$=M3LRO#MGTU6299YA^QHR4VW%WGT@9J%HEJ<\24\]Y M&1A%.C+IE8Z$T%,L;;HRR@'_$K,70,7NZW3B:G6J6/1SXHC2\8G48]9/]>C; MYC>N%<]A*V+NVQ?)X[1A&YO.7%^7N]CS1,$YLA=DC*?BLM4)DQ;74'HX@4&B M_4CP.J>3$XOEFC&/3<^K)HC"P]W]\STL8K[5&:G ML/A#*LI(%I>^R)I=7+B;)H;4+FH)V$0Z+'55APOAF!0@G@1>W,G&/KQY+`;* M[#6\.PVSFU/#]%Q;=YK6-X5@MA<-[X)T\:YZ%8>!IV^;)AT&KMS=#E@?`[0> M7&V!N8'V0#?C'\>_6+K6@'K*@3R(9>*J/3[T"5FN?3+NS-CS:I@"2L`S7OOC MR<#*CAK3]O)"ZC4%IU#*)VM]+09E6O[P1R_ MRO4C(U;C05&"(N2/0[L]O3K?PK5(&O5*V_EK@(9S6;D4AP!SSK89;)HZI!8''8#7X)WR M?':W]WK!.\!RVF)]T@]O?4(0Z*KU23FM3^I0,R?/^FY,C=_V?M:!_*P#:6M4 M]K,.I(HZ$+E7.L$\<"$_\+9'4-V:^A\N=N"7DWD-5<495+1_/>0[F\P`.-P6 MMGV!%'-$*?$?4?K7M.J^>FO-G+V*R-N;9#B?R.(8.9ZM$O>27S:G MD?,I\^W/CA9MAWMGOD+;.;SG$8&&-PR7E^(:[:=/WK`^Y$"F,PF-W.H1JXZ* MN=Q;"^)%TU0__`J]N;B.;1P$5'NQ)1PZO.0T%M<$"F=1"6^HT6??L7JQAER:Q6?:H'C5&&R:.A'5$ROM)FT8ZS M;*.,=JD')Z*M:6DHS`W%MK^C:0UK5!6D=D[?JI9/@V?.PKK?U!8:M:K[#5>< MQ`5>1Q8SCO"OMO1DD2"97^-#LPYZ%HRD>MD[ID#8;;=,0:8J=PI.?3W%Z75_ ML'2.8\T\I+"9AUQ#J[?3B<7=_JRFV0D#G]X;1(S]<<1^O;UPQMU0#P8^GA#I3H+M'MDY.CHI6I7?OEJ/@VWI5 M[NP[LKVJ--,@Y+BNGYF@%/#"MQ!S'"*&/DN>R,JTQ3XK]UE@#-HT*.313!&F M@GPT=$FW\J,::MAD*DOR#ZQA8R$7,2I4L0+E[6)X$E?>7EAD?`7KXU$'H\"2 MS8:O@M=2)]X3"H*+KTYG;D(Q4LJQTJ'I3%ZEP$OE?*_IUJ3`1%->76Q!YFYPI@,ZX MF)()_@B]O[O`Q"Z&>N`[#Q18I%`IK0VJI3C,.U,D+^+-QI-+55]<6S>A'=R8^L/5-8Q%OK`K M&(.*YFB$W/'6TMH`4_\GY>`*F38R=,W3+5-[C'$7N]FYPC_Q8KTH5E>DF3`; MJX3$XA%DCX<>L0Q:Y-%9-;B5.29"6!=Y+J(@ZDVD0X<"FQPYLY6!\MLC` MF-C_/KC![B>O^XJ/[B[H8]+E-)%5FJ MFS]1#B*O),.XI1!:/[1)*R)-+RD'=08WKS#W"]+1UP^_G=^:CP:*25^: MBM/SA%E+6/#1B`/_X466OU_>]?6U+BNK/]*WL[LJG-2CN/<'@.$6=1A"$7@3.VG4R81 MX%V.S?:%@?7KMR1?$\NV9+M]TG!MD*+SU3H^QFDQXQ.U\H9&7I[^%%BMMYJ:SJ MIOFZ*#M(SQP^V87]/H)ZFVZWIG(;.@4#U;@[V<>C;=&A+_5WP]/-';Z'(O3&9Q?1Y@<(+$N8E%\U:H#72+MJGS2OJ6D MNY>V1?6"KYN/R#D2**?/R-#N/)?+6`"XMK MG-XN90\4^R0N2?LCL0S4/G3#)#8+UNK?B5>`@#>'N^Y"D2V!_!9R(E:\OZ,5 MN>S,BF0YS&*VD:"S("-$-TUTN/@*O^>&7W1)!W:X[(B:Q+6W8S(Y$PW"&NZ+ M6>_WA7#F#1.DS2=R]H:+[AUCC^)?GB`#E_=:A:*^29D`@*%HS>43+1I1&R^> M7./0X=&^)2^LS@V)6;/0GJSLI^&]W=JZ1:\`+-\B4Q.+CM[AT5T+B%`^EKV7 MC_PC61S5/,==X:8[?]J-G`3*'^@*G8EL$8[1^P,?ZZG@_$$A$;;A^2SJ)UUR MA]NW/,-Z'=W;IK%/%>O@#<6EXV)6):,F M@YZ/*=X`*3-4+#[:!*XE=OZT-71$$4#I0-6)"K

23\_E4A4O:JT-95_JA M*31E36-_RTPR0@WF<$!2S2]U]PS"0_Y&K MUX=NDHRJ9`49#3E7EG!^K=+YNY(',6!"\5C))A[L8)D@\A"K MS).\CE!CDCB8)6#*M3A%G3E!:H(GP[L;4ZKPRNTC>M0_,UMJ,EG!U0+*F[8K M^>""(1*"(?K%"H5@HSL61LN]1P[=*.<@K!3`&T[)Y%U)A``FD5Q(5SOR#OU* M(>?8%OYQ'U1;"N#([);I5('SKHF2TY7HU((M$B;I_&@_]'_9SJ7O>EC1.GE` MJ,LE*ZVM&?GAH*`KD1$%1X((*K9_!%MG#GK#!AJMGDH.9388BPF@%Y:7BLZ\ M)!50BCUJPXOE*2X48=N'7X9I4BO>TZU7X]D,:YY&OXKL>64Q@S-CN.GH2FBJ M`14K&LG$)BZ/FZHE>6-A"/W4.3U>+0##!KA(Z,R-+XI/+"B+V=`$I7[]KYI1 M`U%L%OTRN6S\SS-Q58S2OHK1YI/\7*-P&%>402I,C!#R?.XR":FH6VI,HFB$ M!+'-\=VTOQ#:(>?#V*.<[#:3#DZKV(8>S;_1`=\R#1M_SPT;;XRU)62M1`B2 M.W/M0>,_X&BH8J]/(W#=QI'VDZ4")[(-$UM]NX=SH`.;A%`_CFZN+#Y;0AMU)9YOH"K554X=?4]0^J?8-S(R_X5 M:19MOY/10Y:&1<>T&6#1!PX"&MDM@JQ+'CB%\)'U0/J.[55')Q?4]>%H6`8Y M^,FCW"D0JK:`>Y?B(J%+41'&2(*^5J4I,>U8X/'+$-R1*$6"HLBA1E,.U?D, M[M&H8&+(?V.ES,\?FET#5]VSW[]=/5S>/F:G2Y MO;O:W.V"GW;;VYNK-?EX]XC_]V-S][@;;:]'E^O=7Z/KV^W/G9A*>K)T_V!X MA']8OUB4D5%/,G1(&H]M7TBX^K5I_ZJAF0[_\ETO:+QL1]UJT1WR@N/JUG;Q MYV2:>\?^,`ZDMM,3)NC&VKXC<@&P7M=[?`V@Q9^27/`@J&2F@B@U`(JKJ\,G MRT&Z2;;2=VQ!D^+Q`E[)$.%>FK&$V6N*7#BQ4?%`*6L"KRQ ML&$)5&[8LI:/X,)QW#$ZUJ&$N;H76%\/![(]#'RZD&%Q^?GFEX8I.'4Z** M9HNE*H]<5-@F,+>3AG41YV)#5YV+Q0KA6RGQ^4\F:E""N*UU9FEHZDFI.F?S MM6@98OWW,5:]6&6Q>+*>#5(B/<'"Q6!H"T`?$1<1?9:?4LSZ'VK0G`#=.^@= MF\!7X;1A^,7:.FR]-^0$:14$G2F@"[8:57T6,7%4^U]UK#F9BQ3XO?X5:>\% M:.!$\?Q="1+'A:$(*5DKF#%1<'P\F:%CQ1T8T>%.BC%._8Z`I(*&EM8BK]_2 M5A5G6>NZUX7II(Q[W53;;6".RO%":I^60D[5;EQZAR6+O*T/\8'UT*# M6V/>O(ULG48XFG@/>1#ZG<[VR.0):UUA)3'5VE3&9_/W6-L6(25O->`%9-J-D\B%Z"KG13)R'\]E\*H]`U=#FJZ$?S_QSC2=3=3;M MP:*[/L%7YUNH(H;#*=UIX].I]G:ZL3Z0FZ.+7R7@36`RRF!W%!B7#\WB451E-=K7P->H/)S+>XIQ]XC='"O ML;`Q0N-.Q6&F`':[$J"DZTV5#5*IB&+_'S(:M?IXL&W3``+94?QS$8M%F_=@ MT5WO)UZKKPS#_OMQ&K7ZBJZD&%KJJP#I,BU.3ZWME%S-";?G,\AU)7-!;@HA MSJ4V10X2_3?-JK;!KH%?FZ997$V:,@QE-6GBK-944FNB329SP*[*!3,W(C5B2Q.7#Y:*'XZ8U&@W MWR"LG+=\64-X:GCHVS2KZK[*M"I2G.#)&HBS>7E!>PSDYG/_IENOZ`%#N[78 M;?;&J\D$K@:?""4=BE%5P&0-/>!"$<2JK&T1,->3TV&2%F`Y#S89SY=3#6Q] M(I2TMR$R%G)5P&1]Z^5"<:(,?4>L\6GJ.%_XX*1M`$C/U2GC&=7V,)<(`V,>C;>T\6@)MID#682B;O]>R4XZ8 MK"V?\G803;FXM:W71^0<21-IO(N6*[@,*6XZ>BU'_`C&[UG+14_+?`%><283 M:2TZD)7US:*;U+3H)@/J+!Y8=!M+(-ANY[^_FQ1%W8Q0O+%>;%(6D^`>XZG. M`/L2\1'1H7>H`DS2%J:)"C^14E!X?RQF<"DHZ:F:X7Y5<4_RDG(6GP1]J$/C M=OU*O5J]2KW;^\W#^O$&?R%:7=.5>L-W._S;4_P$2O6>%9!/4MCF&EQ^3,ZD MU4V$^`'S)'9IMH(+$F#,V%26(1\_HJU;MO3A/`6).2[+@&JC_48#MJUMT1'< M*/]S,57@7`3GL[4BL8Q^S_EKEB#$H%A!A!L#6/XA1O MY/XP++KTR'*G?=#3HQ`O@/?U`WEOY&&3!")1HQ%;]\IB!FS9M;*2;LRMKE@E MZ_MS3KX!5&!OU]9Z_G('XXX39/!&=RR\/TB(1525W=B3UJ"&Z>/K['BE+.#" M<$LF[^;($T!$6F_;3V2\ON'%KC^PVGQ%=SYI]+E]H7AL?<_U=.N`,3J'9K)4 MIG"WNVI$=2-$#0`8"5?_,[KJ=>?,@`E6O[1AWX#O$`QSZ_K,@K<K2@@@TO]XI:J%)+A[68'HR#9Z@U6X*0LW^CH)DB>-OOHH(A5]323L(1?# M\413%#B+JWCRKL5#`)I8.B0+4^-'#^8.UH@;2FQE^)XU70%>*WLB[=G+)A<@ MPW&JB5T\'S"N>!82%7.%/I!IT\HX,0*SY1*NN%+AW(V(A<"#0B0._(`,IM1# MQ1B/D\UPASP2\J#"QWN<3]OU:<@%1RP+DH7=?L>7!DC+ MR^V/^X?-7_A[-_^W&=UN=V!1F*3%L(/P7[OXI,P^+0H$8U+WQ,EPR6,AMLNV M+X_Z)SM5.9&RI0)7]*`^?34.LX*YKVT'&:]6X![>?STZNN7BR<@6M0[T7V:P M8>.J9!&U^&!8*G!F'@S1S2@J`%D[<;/!\FHX8:V5L[<"S$A23Q;)5&['`K`= MO!@Q-5QW[+`(J#)`#4>!U.99272(''&QK:'8K&8;SFVA'44#71P'5M'PR`;> M>/,YX"V9@X1.U5+V.BT*VG`.Y\P-N^Z]15/FRA3?5JX,=V_:KN\@_(\XJWV4 M,G?V;OUC].T*>;IANO\0N[_$,6]999"8R43A+Y;L+R:]/%AT+U60*F&'+GK.Z=DC7"OBA>[Y#"Q"D2PK$ M`-Y8_T2Z\_C+QHM;:'!A^U5(:D1[\/(S4A*UL9/5GRP`S`,ZZ@;>;P[I).GN M=9/@A.&9`W9$J4M>WX6M'%-97[A*0`4Q;B`U\N9S;_HDJ)5,0!IBC[7EBODB M\VY0`C5E&I*'/R@>J@TISMA5_(L;<(Q&$P:5QFM0Q6;3?X^P83JR7T8$VU&$ M:;/&5&0Y41,XXCV9YH\I=2K;8=@N.>T!Z^]+.^9ZS?EE-7-DL#6(>+N%(;[R87AW#XV2MPW$S@]@9$UX[@Y:PL$T3 M'49!\NYH^X*IQU]LUL1(Y@FFB68!MC#F0]BPIX@\ZL\F&JO3:1"?-N>X$#`& M:&,WSL]W8]E".C08A-FP_C1<2CQ+CCBX0/Z^*9&XLLG-GU(SKT9-,$(C0L$% M$ULB&.L8DDC\0"0UE9*_K,:&8`0`-N1*")L1C)4,B1'XS$,W'CH&DL>RR3EX M$0]2?9?^T#^-HW^D%4FW+[30,ZW^C/7>$W'4T4^B^3"MVH3E7F?2*C0T@$`5 M01S)5/7ERWIS)!6_#=?%E&]_H<.C39I;N^O7(#D%X^^BPYI42]@31KQBT-:O MKPY-F_WNV*Z;+O^\T?=O06]LF@E/^;#D%G5`0CH2MK:@E?5FFRI&3U>]\Y_= MO6,\H\.%[SU9&%H?'<(/Z0+=![1'Q@"TM6&`N3\]F_[XBY)0N1-7;DWD$?ANV[I2V:`@N- MHC)G-K=BLE=X^(ZX7P^&.'1\>,)1_S5EDGU-N?!=TA7.'>G6871K8&X3:+2U=8C'JOLNLG5>=U7DQ`XE"M9Y/$#L!F<8;)P,NI+KF'XX+/0(:HMO-[O_:-ODE3U*_1B[$D/ MUKDR6X+)2SD!0Y`?01@'DQLH+$_K`S:G*.4I(_?T;8`^)8RUY4+COM7QCMI# M4]X5!@I0PLD_6<_#CGH9"ISSXI+"8ME*9Y2F8TL(WYA!DI0(Z ML8MX,;CRH_7OCFKV[KCSCT?=^2(A_3OCU3*P,M8M;Q0"22+T[C'3]OC@'WV[ MP_8S+5M6.1@OG&W[DIHKF2J:*9ZG[K4S.W0L4]I$`[M(Y4];W5"-"M''=9!V MZ#7L9C+5YG"!X+GS-J(?!!@4UW+@`D+6=_.HL06B&>?(`5>6Y:OF]>V\X(,XHU]P)J7>M&YCQ)PO0`0[]Y'D\:1_?VF[WIWM_1-Y^&YD8^/[;](12V6&`#?4(PR* M[*XDN14^2-L\"@R]0!5@ZRK\B'QO0B"%N^"UNQ;IY+V48]$FD.[Z1E+8;BR, MNT^.N;#"RM<5N0\L%C.X8C3Y\W8E7'Q(1(+0_Y M37)G1,3X/J`7`V\+9)+0E[B"R7?;/OPR3)/TKYW`U=:M0UI7TM08G)'`#3D& MGNT*I5C\A4RB=\D#RKU#VIMX7_`*!^O)?'.I'()KK3?:79-]&3`]V!3=UV*"?UMW*.! M[/7U]O+F(>R^^_1N6S19V`EBLX,[>+J1`]P#28]6VI5B[A$$)\R.TYV&EQ%1 M4[W#=&F'T.^RMYT7X57UQO-JCUU!53O/Y^0KD'3S51`C`&+$Y$];7\+%Y\SX7/L$C&*=;MAA=NG.DD MZ)T`P[C,?"!,RY/!)*&G:-G]9MD#B1RA4JE-YW!U->-I:IR&9(A('4_GK&J) M#=+:H#@50!R?3>RU]5MTPAIQD<1/%W!GS,E4S3$E3YK.JN!E5]AOQL29YJG` M,#>N"ZDIW,5G"P9JA@F-&KB).N9;?K^96.C7NTV5A=!45FR.N!?SMG[1S'-& MA8$(87PA*<7'?-\O*2?JCJ!N_7ES5KC7?=TQ$`4\1K@;H.L&9O1 MN]PLB95MR>)[?DR>41^=\S-555KCGHA_4I"!.;*8QSS&\@?%O^1PQTMFE<`% M86##ID\=#C(!Z(UQ4XV%(%5W:K&0O0[!TK8PRVJO^"\_WZH6_UT.*,M?N$Y0 M#A@TL_P$B^#"WJ:TG-+0+V$IP$?>&F4<153#0LHT7U9E"$Q.,5G><3L2@HH+ M'TR;`W&MD378PH=`C"'+A0YFL0J\1_.L)'2%XU7`/:DSIP2QV0K8DF.X9=?? M&\.[PN+9=ZB"6T<6K'F%:E( M"+`.)#_L3C_&TJHL`5T\`!0W$P5:R'ONHB`U`>]*E]UOX$G7/WH3!?7OM M>V^8:)*$D#1:H52338=WY^83.7O#1?>.L4?TY2AP16G+%5S:%2SM39\?E:D) M["-E":<-``ANQE)N63B+SZ/&&-ASC5!]\=FEIZ[MRA(NFA^&YM]5ACG9V)N7 M@KZRH-R2Z$TX18E1EY3FB2Z%40CCN$+B%(<*UH1^,.^0HAW=6;A$Q?J3(C:7.NG3 M=!V#W`C=<'DP409-Z/DH^N(JZ&PQ7;)4.3MIJFRX08J<&$CQ%5,= M7$\J85%Q/;)\$K'S\\W8OYV?.B':U,V"#R"X.J3U:)-&**NQ(Q;8.9%8>00V M7/[F\]UP*#/"K:I-66T2F/J,.<0@Q:4<#!F*)??5E9P71]%Y$EIG[LC^.W9J M!STRB8ETOG]J*T\DBDU]7@1E;0//B\KC+SN%2LTF@`7# MRRM7;`0'DZ8")5=8>-+[C;_XA_@$$LM6#HH25.JH)5W7MN^D8.$NUR(^OKRR ME8.AK#XL;EB,C_2.XW9JB8\OL6BQ,0Q%2[IV*;RP[(S/%"JL=]E:DA4/+Z]@ ML1&,*Z'_KG*%/I"5PH754ZZ>9"432"Q;.2A*VZ@[DQ5V9WLH5=Y%`:QW4CAW M,S(FN+Q87%IS_O4[9"O<(%$6ZFP.)PTG4P$JF*:3^\Z\YEFH.N=P?L9J^!OR MGV>,`?[D/U!+`P04````"`#HA:A$`/U8Q4P-``!]CP``$``<`'!I<"TR,#$T M,#,S,2YXGIY._3D6'E9SPLBIQ;V6+K#=Z9P!=I=XA*D! M%]XU<7#@JLO&;P%VJ4.)W4"@+),7/O4+%A?F?YX*EZ8D=,HI%S/(VNZT*-/- M8Y$X/PN\_-RV$BVU]$D+S,VC=Z`/D#(]`)FC"NL@!4F+4[U?MF0 MU/-=$J=A86U4'6EZ]OGSYY;)U0(N^D0H2F0KAKYJ)IVP6SS.NI$SK>.ZY%8I MS643AS):O+4@_Q^XM5P\)6ZQAH*L?^"&\@618##W&(8@\7_17AKA!,`C_?#X M,-PY)9BVN@HD943*+K-OZ&\!M:E:-A"UPP::8G=?3"M$,:;U(/_AK'V&FNB: M2LOE,A`$_HCK1S`7HQ6"+ZVL:+;40!)[Q'XPSQFK&PE'.78)INU/<;DLP8I+ MKL9P<1%@*Q'@OY#M8E%JW/MO0HIKHC!U98H;=IGD^-@N3`]T$J'YKB;*48G2 MXYY'E?9.-5=ZG"GPDP$"V+\U42QLG95K13YF:9+`89B20E)SI*H,J3AC[C%` M`BE%+>W8)NGCE\N?SB'\02 M&Q-:JGO3#F>LJ/+DHYZL0B0H`:5FR5%9,J`,#`SX#Q.!F<26UC,Q-3FJ7-?W M4]:;6=6/D@!J4E2/%-K/A+C(%%?>S>XZ6)HT=L0H2G^S2':;[/5=E+ MA9^,AUV(:2NP*$:K]VM!3:0Q(PVZIENEZ3;!4Y>D*%6J4]4IZE2ADQ!)39(J MDB0R0'=$C9QK,E6Z0WG`5(Y%4B[CMEVZ2=I8EMY*H]CP_`T!7,0=I`&C&'%M MCBK#-$S%-^P&Y)9@W:=F^D@P:>&5O+.Q.:L!`F0@H"2&FA?5X\4=%@(T7I!- MB[/PF%TJ4SZV.X6Y@DY6R&K+4FD&Z2_6[,`E(Z4I?J+TJBG'97 MK83SF"8YQJZ'G47)\ULG9P5A&^%B1?34%JH2;>"OE(D%;(15HIR:H-4F:.!Y M6"Q'3F^.V8S((5ME&SFC0-R0!7$GUF5(4?&R9C>[@/#5$V5\YSN))C M1.I0_UU09QWG_ZR[*]_<2/Y4XYQ,F3'Y7S@ M\J<$IP++DMQRRCV\]"ES\NWQKOMX/9R$)]_RSL"-)_#?;?]N,D:C`>IUQS^A MPGKW,QE M;M3SN5"(Y5ZQM^V&N_!VOAMNF<)VB.B_FK%<4RG4'5\&=.^,%:4 MW!-&+'<0#%.>)-;IC"]:-J'Z>L!.LWW6U!<$;L&1*Z,?FFOA/1%LW`=8L`EB M`:W[^8&-GW^Q8!$`2S3J^$P7QI$KV"*NDG'*J_'H=I8E`3)E'3YNXE8W89E8[MU;2;GX MCX/09`?FYW!&9V2FI^YB'':%2$GMXG!T%:I! MF'L#PPE"6[-@*A55@=;]J^"!?]D(,M@F.)Q1A2$WD-XHTO9I;5M MFZD>N_HB(\[,3EQW-A.F^:`>*"VX18LN!X%X?B*C%HXV&A"E^TTI>;K_] M!NU^!BHQV#+7_)FEXDP;[,J8U0,#5CVB7\$+6UW,EUJ78&JXD&8(%`\8]M)Q MXRY#B&I-R=G.?C'W&VB;-PKVT#$0H;TD]H"DR9M]<["_<)`*>TP?Z0F^D'>P MA\AQ!UH:Z&I6T#;T%C@V!Z[]FV"Q3;,=`F]D@&>Z=%-3(>T$S'?Z6XTUY/@; MQ%OB34E*L9?SOOGP"G^]X,+F'J9%YLPUZ-39SFV:Y62JGDH[;LKK1N`2NA7* M736SF+ZSJ_M,$X8Q[]W;3&(V]?0^2^BGD;;K$;RM'N33,G,EW:X9J M$RMK"/+?5KP[,@Y?[LOJ.GFY)TIS&/92OJH1;?M)V1=TJGZ/4;:ZBPPN6`ZPE@Y/3,2!M@2[ONRRLN M!'\"6];#/B29%3QM`4;./^/?<;O:LD:[UKST@H]LVP[49^MR]JM;:D?)1V^J MZ(=ONCJVG86SFYG[X0UW+L!\'ZQQHH0CJWZ+GZD7>-'E M1V9/U6QG`*)'9A-A4N*@9ZWOGF)59?@=@3[B#E4/1$$JE*WW),QVQA5QN"`P M2,%]GYIJ!UQD=^?6#?+ZDBKK]=YQ122$&1K<:B-G1>6'F.Q=+VWT]A0[=`?W MK;7/W<9:J1&B?R`V\?P01:S^OG)'M@-)N"LN1[LD^4IMYCJV"OJSW*[Y+#?K M5>2\JIPO`9/%@O(@M3L:[RR;S]/C;UY"CR[5+?N+5G:XO:R";L_49+2/3%7U M7D'<=R;>6["J<['9_[_*GF9,A`%7RW66:-7+F)[5:E\7M`[-J>S"V,,NS+,. MH7J!Z2'U%'!&CX0[:98YL@"T.:1426_ZJU(8@]9]LN>MZWEC?9Q MI?G.Y.`VC'=F82JWH*]!T0%8U.R$(OMN&R!G7?4`T7>K M_I@L"#NT`5+"[[<)Z//!#;`6?;?JYZ[/'R3\?IM@'_.=G+1 M_%7;5G[Y&H.".E9^FWGSXK6\;MR5J7)]EW^5W"YMWDQ0\/>L*?_P-02P$"'@,4````"`#HA:A$GVM<4B.+```U MWP4`$``8```````!````I($`````<&EP+3(P,30P,S,Q+GAM;%54!0`#4^UK M4W5X"P`!!"4.```$.0$``%!+`0(>`Q0````(`.B%J$2?S5X8PPT``&&A```4 M`!@```````$```"D@6V+``!P:7`M,C`Q-#`S,S%?8V%L+GAM;%54!0`#4^UK M4W5X"P`!!"4.```$.0$``%!+`0(>`Q0````(`.B%J$2OQQ\!F1\``$'3`0`4 M`!@```````$```"D@7Z9``!P:7`M,C`Q-#`S,S%?9&5F+GAM;%54!0`#4^UK M4W5X"P`!!"4.```$.0$``%!+`0(>`Q0````(`.B%J$3","J*[(,``$_-!P`4 M`!@```````$```"D@66Y``!P:7`M,C`Q-#`S,S%?;&%B+GAM;%54!0`#4^UK M4W5X"P`!!"4.```$.0$``%!+`0(>`Q0````(`.B%J$1@G:\-M#4``#PR`P`4 M`!@```````$```"D@9\]`0!P:7`M,C`Q-#`S,S%?<')E+GAM;%54!0`#4^UK M4W5X"P`!!"4.```$.0$``%!+`0(>`Q0````(`.B%J$0`_5C%3`T``'V/```0 M`!@```````$```"D@:%S`0!P:7`M,C`Q-#`S,S$N>'-D550%``-3[6M3=7@+ B``$$)0X```0Y`0``4$L%!@`````&``8`%`(``#>!`0`````` ` end XML 26 R22.htm IDEA: XBRL DOCUMENT v2.4.0.8
Fair Value Measurements (Schedule of Assets and Liabilities Measured at Fair Value) (Details) (USD $)
Mar. 31, 2014
Dec. 31, 2013
Mar. 31, 2013
Dec. 31, 2012
Assets:        
Investment in money market funds $ 6,428,787 [1] $ 7,928,807 [1]    
Total investment in money market funds 6,428,787 7,928,807    
Liabilities:        
Current portion of derivative instruments related to stock purchase warrants 2,018 51,663    
Non-current portion of derivative instruments related to stock purchase warrants 1,495,576 1,688,572    
Total derivative instruments related to stock purchase warrants 1,497,594 1,740,235 2,201,390 1,295,613
Level 1 [Member]
        
Assets:        
Investment in money market funds 6,428,787 [1] 7,928,807 [1]    
Total investment in money market funds 6,428,787 7,928,807    
Level 3 [Member]
        
Liabilities:        
Current portion of derivative instruments related to stock purchase warrants 2,018 51,663    
Non-current portion of derivative instruments related to stock purchase warrants 1,495,576 1,688,572    
Total derivative instruments related to stock purchase warrants $ 1,497,594 $ 1,740,235    
[1] Included in cash and cash equivalents in accompanying condensed consolidated balance sheets.

XML 27 R24.htm IDEA: XBRL DOCUMENT v2.4.0.8
Fair Value Measurements (Narrative) (Details) (Fair Value, Inputs, Level 3 [Member], Warrants [Member], Derivative Liabilities [Member])
Mar. 31, 2014
Mar. 31, 2013
Fair Value, Inputs, Level 3 [Member] | Warrants [Member] | Derivative Liabilities [Member]
    
Fair Value Measurements [Line Items]    
Warrants to purchase common stock 2,899,991 2,899,991
XML 28 Show.js IDEA: XBRL DOCUMENT /** * Rivet Software Inc. * * @copyright Copyright (c) 2006-2011 Rivet Software, Inc. All rights reserved. * Version 2.4.0.3 * */ var Show = {}; Show.LastAR = null, Show.hideAR = function(){ Show.LastAR.style.display = 'none'; }; Show.showAR = function ( link, id, win ){ if( Show.LastAR ){ Show.hideAR(); } var ref = link; do { ref = ref.nextSibling; } while (ref && ref.nodeName != 'TABLE'); if (!ref || ref.nodeName != 'TABLE') { var tmp = win ? win.document.getElementById(id) : document.getElementById(id); if( tmp ){ ref = tmp.cloneNode(true); ref.id = ''; link.parentNode.appendChild(ref); } } if( ref ){ ref.style.display = 'block'; Show.LastAR = ref; } }; Show.toggleNext = function( link ){ var ref = link; do{ ref = ref.nextSibling; }while( ref.nodeName != 'DIV' ); if( ref.style && ref.style.display && ref.style.display == 'none' ){ ref.style.display = 'block'; if( link.textContent ){ link.textContent = link.textContent.replace( '+', '-' ); }else{ link.innerText = link.innerText.replace( '+', '-' ); } }else{ ref.style.display = 'none'; if( link.textContent ){ link.textContent = link.textContent.replace( '-', '+' ); }else{ link.innerText = link.innerText.replace( '-', '+' ); } } }; XML 29 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
Business and Liquidity
 3 Months Ended
Mar. 31, 2014
Business and Liquidity [Abstract]  
Business and Liquidity

Note 1 - Business and Liquidity

 

We are a biopharmaceutical company focused on developing biodefense countermeasure applications.  We are subject to those risks associated with any biopharmaceutical company that has substantial expenditures for research and development.  There can be no assurance that our research and development projects will be successful, that products developed will obtain necessary regulatory approval, or that any approved product will be commercially viable.  In addition, we operate in an environment of rapid technological change and are largely dependent on the services and expertise of our employees, consultants and other third parties.

 

Historically, we have performed under government contracts and grants and raised funds from investors (including additional equity and/or debt issued) to sustain our operations. The Company has spent and will continue to spend substantial funds in the research, development, clinical and preclinical testing in excess of revenues, to support the Company's product candidates with the goal of ultimately obtaining approval from the FDA, to market and sell our products. We have incurred losses in each year since inception, and have a retained deficit of $212.6 million. Our cash balance as of March 31, 2014 was $9.5 million, our accounts receivable (billed and unbilled) was $1.6 million, and our current liabilities were $3.5 million. The need to raise additional capital will depend on many factors, including, but not limited to, our future cash requirements, future contract funding, the ongoing proceedings in our litigation with SIGA (See Note 4 - Commitments and Contingencies), the timing, amount, and profitability of sales of ArestvyrTM, if any (including, potentially, the timing of SIGA's recognition of revenue related thereto) in the event the trial court awards us a remedy tied to sales or profits of that product, our ability to collect amounts due from SIGA in the event the Delaware Court of Chancery awards us a remedy tied to sales or profits of ArestvyrTM, the outcome of any appeal of any subsequent decision by the Delaware Court of Chancery to the Delaware Supreme Court and future funding required to develop SparVax® in light of the notice the Company received from BARDA advising us of its decision to de-scope the current SparVax® anthrax vaccine contract through a partial termination for convenience. There can be no assurance that we will be able to raise additional capital in the future.
XML 30 R3.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)
Mar. 31, 2014
Dec. 31, 2013
CONDENSED CONSOLIDATED BALANCE SHEETS [Abstract]    
Common stock, par value $ 0.0001 $ 0.0001
Common stock, shares authorized 100,000,000 100,000,000
Common stock, shares issued 53,773,705 52,304,426
Common stock, shares outstanding 53,773,705 52,304,426
XML 31 R17.htm IDEA: XBRL DOCUMENT v2.4.0.8
Stockholders' Equity (Tables)
 3 Months Ended
Mar. 31, 2014
Stockholders' Equity [Abstract]  
Summary of Warrants Outstanding

At March 31, 2014 and 2013 there were warrants outstanding to purchase 5,620,128 shares of our common stock, respectively. The warrants outstanding as of March 31, 2014 and 2013 were as follows, and all are exercisable:

 

Number of Common Shares Underlying Warrants       Issue Date   Exercise Price     Expiration Date
  100,778   (1)   March 2007   $ 3.97     March 2017
  705,354   (2)   March 2009   $ 3.00     September 2014
  2,572,775   (1)   July 2009   $ 2.50     January 2015
  500,000   (2)   April 2010   $ 1.89     October 2015
  1,323,214   (2)   July 2010   $ 1.63     January 2017
  371,423   (2)   June 2011   $ 3.50     June 2016
  46,584   (1)   March 2012   $ 1.61     March 2022
  5,620,128                    

 

  (1) These warrants to purchase common stock are classified as equity.

 

  (2) These warrants to purchase common stock are classified as derivative liabilities. The fair value of these liabilities (See Note 3 - Fair Value Measurements) is remeasured at the end of every reporting period and the change in fair value is reported in the unaudited condensed consolidated statements of operations as other income (expense).

 
XML 32 R1.htm IDEA: XBRL DOCUMENT v2.4.0.8
Document and Entity Information
 3 Months Ended
Mar. 31, 2014
May 01, 2014
Document and Entity Information [Abstract]    
Document Type 10-Q  
Amendment Flag false  
Document Period End Date Mar. 31, 2014  
Document Fiscal Year Focus 2014  
Document Fiscal Period Focus Q1  
Trading Symbol PIP  
Entity Registrant Name PHARMATHENE, INC  
Entity Central Index Key 0001326190  
Current Fiscal Year End Date --12-31  
Entity Filer Category Accelerated Filer  
Entity Common Stock, Shares Outstanding   54,476,138
XML 33 R18.htm IDEA: XBRL DOCUMENT v2.4.0.8
Financing Transactions (Tables)
 3 Months Ended
Mar. 31, 2014
Financing Transactions [Abstract]  
Principal Payments on the Term Loan

Remaining principal payments on the term loan are scheduled as follows: 

 

Year   Principal Payments  
2014   $ 749,997  
2015     750,007  
    $ 1,500,004  

 

 
Term Loan, Net of Debt Discount

The term loan, net of discount of $14,620, is recorded on the 2014 condensed consolidated balance sheet, as follows:

 

Current portion of long-term debt   $ 999,996  
Long-term debt, less current portion     485,388  
    $ 1,485,384  

 
XML 34 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
 3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]    
Contract Revenue $ 3,742,525 $ 6,475,138
Operating Expenses:    
Research and development 3,427,000 5,233,475
General and administrative 2,677,452 2,279,795
Depreciation 39,939 52,602
Total operating expenses 6,144,391 7,565,872
Loss from operations (2,401,866) (1,090,734)
Other income (expense):    
Interest income and expense, net (69,872) (99,008)
Change in fair value of derivative instruments 242,641 (905,777)
Other income (expense) 362 (6,123)
Total other income (expense) 173,131 (1,010,908)
Net loss before provision for income taxes (2,228,735) (2,101,642)
Provision for income taxes (29,705) (9,743)
Net loss $ (2,258,440) $ (2,111,385)
Basic and diluted net loss per share $ (0.04) $ (0.04)
Weighted average shares used in calculation of basic and diluted net loss per share 53,044,119 48,359,181
XML 35 R12.htm IDEA: XBRL DOCUMENT v2.4.0.8
Financing Transactions
 3 Months Ended
Mar. 31, 2014
Financing Transactions [Abstract]  
Financing Transactions

Note 6 - Financing Transactions

 

Controlled Equity Offering

 

On March 25, 2013, we entered into a controlled equity offering arrangement with a sales agent pursuant to which we may offer and sell, from time to time, through the agent shares of our common stock having an aggregate offering price of up to $15.0 million. Under the arrangement, the agent may sell shares by any method permitted by law and deemed to be an "at-the-market" offering as defined in Rule 415 promulgated under the Securities Act of 1933, as amended, including sales made directly on NYSE MKT, or any other existing trading market for our common stock or to or through a market maker. Subject to the terms and conditions of that agreement, the agent will use commercially reasonable efforts, consistent with its normal trading and sales practices and applicable state and federal law, rules and regulations and the rules of NYSE MKT, to sell shares from time to time based upon our instructions. We are not obligated to sell any shares under the arrangement. We are obligated to pay the agent a commission of 3.0% of the aggregate gross proceeds from each sale of shares under the arrangement.

 

For the three month period ending March 31, 2014, we sold 1,324,553 shares of our common stock under this arrangement resulting in net proceeds (net of commission) to the Company of approximately $2.5 million. As of March 31, 2014, aggregate gross sales for additional common stock of approximately $6.0 million remained available under the arrangement.  See (Note 7 - Subsequent Events) for additional details.  

 

Loan Agreement with GE Capital

 

On March 30, 2012, we entered into a Loan Agreement with GE Capital. The Loan Agreement provides for a senior secured debt facility including a $2.5 million term loan and a revolving line of credit of up to $5.0 million based on our outstanding qualified accounts receivable. On March 30, 2012, the term loan was funded for an aggregate amount of $2.5 million.

  

Under the terms of the revolving line of credit, the Company may draw down from the revolving line of credit up to 85% of qualified billed accounts receivable and 80% of qualified unbilled accounts receivable. As of March 31, 2014, the total amount available to draw was approximately $0.9 million, of which none was drawn and outstanding. 

  

The fixed interest rate on the term loan is 10.14% per annum. The revolving line of credit has an adjustable interest rate based upon the 3-month London Interbank Offered Rate (LIBOR), with a floor of 1.5%, plus 5%. As of March 31, 2014, the interest rate was 6.5%. Both the term loan and the revolving line of credit mature in September 2015. Payments on the term loan were originally interest-only for the first 10 months (which was extended to 12 months pursuant to terms of the agreement); subsequently, the term loan began fully amortizing over its remaining term. Remaining principal payments on the term loan are scheduled as follows: 

 

Year   Principal Payments  
2014   $ 749,997  
2015     750,007  
    $ 1,500,004  

 

 

The term loan, net of discount of $14,620, is recorded on the 2014 condensed consolidated balance sheet, as follows:

 

Current portion of long-term debt   $ 999,996  
Long-term debt, less current portion     485,388  
    $ 1,485,384  

 

If we prepay the term loan and terminate the revolving line of credit prior to the scheduled maturity date, we are obligated to pay a prepayment premium equal to 2% of the then outstanding principal amount of the term loan. In addition, we are obligated to pay a final payment fee of 3% of the term loan balance. The final payment fee is being accrued and expensed over the term of the agreement, using the effective interest method and is included in other long-term liabilities on the condensed consolidated balance sheet.

 

Our obligations under the Loan Agreement are collateralized by a security interest in substantially all of our assets. While the security interest does not, except in limited circumstances, cover our intellectual property, it does cover any proceeds received by us from the use or sale of our intellectual property.

 

In connection with the Loan Agreement, we issued to GE Capital warrants to purchase 46,584 shares of the Company's common stock at an exercise price of $1.61 per share. The warrants are exercisable immediately and subject to customary and standard anti-dilution adjustments. The warrants are classified in equity and, as a result, the fair value of the warrants was charged to additional paid-in capital resulting in a debt discount at the date of issuance. The debt discount is being amortized over the term of the loan agreement using the effective interest method. Financing costs incurred in connection with this agreement are also being amortized over the term of the agreement using the effective interest method.

 

We currently owe GE Capital an aggregate of approximately $1.5 million under the GE Loan Agreement.  As a result of the receipt of the notice that we received from BARDA on April 4, 2014 advising us of its decision to de-scope the current SparVax® anthrax vaccine contract through a partial termination for convenience (See Note 7 - Subsequent Events), and its subsequent communication, and any further communications that we may receive from BARDA in the future, GE Capital could assert that there has occurred an event of default under the GE Loan Agreement, which would allow GE Capital to terminate the commitment and the loans under the GE Loan Agreement and declare any or all of the obligations thereunder to be immediately due and payable. We have not received notice from GE Capital that an event of default has occurred.

 

The Company determined that the fair value of the term loan approximated its carrying value as of March 31, 2014. The yield in a high yield bond index as of March 31, 2012 was compared to the fixed interest rate on the term loan.  The change in the yield of the high yield bond index as of March 31, 2012 and March 31, 2014 was used to extrapolate a revised fixed interest rate on the term loan.  The original fixed interest rate on the term loan and the revised fixed interest rate were used to compare the net present values of the amount to be repaid to GE Capital. 

 
XML 36 R11.htm IDEA: XBRL DOCUMENT v2.4.0.8
Stockholders' Equity
 3 Months Ended
Mar. 31, 2014
Stockholders' Equity [Abstract]  
Stockholders' Equity

Note 5 - Stockholders' Equity

 

Long-Term Incentive Plan

 

In 2007, the Company's stockholders approved the 2007 Long-Term Incentive Compensation Plan (the "2007 Plan") which provides for the granting of incentive and non-qualified stock options, stock appreciation rights, performance units, restricted common awards and performance bonuses (collectively "awards")  to Company officers and employees.  Additionally, the 2007 Plan authorizes the granting of non-qualified stock options and restricted stock awards to Company directors and to independent consultants.

  

In 2008, the Company's shareholders approved amendments to the 2007 Plan, increasing from 3.5 million shares to 4.6 million shares the maximum number of shares authorized for issuance under the plan and adding an evergreen provision pursuant to which the number of shares authorized for issuance under the plan will increase automatically in each year, beginning in 2009 and continuing through 2015, according to certain limits set forth in the 2007 Plan.  However, the 2007 Plan evergreen provision limit was reached on January 1, 2014. At March 31, 2014, there are approximately 10.3 million shares approved for issuance under the 2007 plan, of which approximately 2.5 million shares are available to be issued. The Board of Directors in conjunction with management determines who receives awards, the vesting conditions and the exercise price.  Options may have a maximum term of ten years.

 

Warrants

 

At March 31, 2014 and 2013 there were warrants outstanding to purchase 5,620,128 shares of our common stock, respectively. The warrants outstanding as of March 31, 2014 and 2013 were as follows, and all are exercisable:

 

Number of Common Shares Underlying Warrants         Issue Date   Exercise Price     Expiration Date
  100,778     (1)   March 2007   $ 3.97     March 2017
  705,354     (2)   March 2009   $ 3.00     September 2014
  2,572,775     (1)   July 2009   $ 2.50     January 2015
  500,000     (2)   April 2010   $ 1.89     October 2015
  1,323,214     (2)   July 2010   $ 1.63     January 2017
  371,423     (2)   June 2011   $ 3.50     June 2016
  46,584     (1)   March 2012   $ 1.61     March 2022
  5,620,128                      

 

  (1) These warrants to purchase common stock are classified as equity.

 

  (2) These warrants to purchase common stock are classified as derivative liabilities. The fair value of these liabilities (See Note 3 - Fair Value Measurements) is remeasured at the end of every reporting period and the change in fair value is reported in the unaudited condensed consolidated statements of operations as other income (expense).

 
XML 37 R23.htm IDEA: XBRL DOCUMENT v2.4.0.8
Fair Value Measurements (Summary of Changes in Fair Value of Our Level 3 Liabilities) (Details) (USD $)
 3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Beginning Balance $ 1,740,235 $ 1,295,613
Unrealized (Gains) Losses (242,641) 905,777
Ending Balance $ 1,497,594 $ 2,201,390
XML 38 R19.htm IDEA: XBRL DOCUMENT v2.4.0.8
Business and Liquidity (Details) (USD $)
Mar. 31, 2014
Dec. 31, 2013
Mar. 31, 2013
Dec. 31, 2012
Business and Liquidity [Abstract]        
Cash and cash equivalents $ 9,534,720 $ 10,480,979 $ 12,873,411 $ 12,701,517
Accounts receivable, billed and unbilled 1,600,000      
Liabilities current 3,465,457 6,795,981    
Retained deficit $ (212,586,365) $ (210,327,925)    
XML 39 R15.htm IDEA: XBRL DOCUMENT v2.4.0.8
Summary of Significant Accounting Policies (Tables)
 3 Months Ended
Mar. 31, 2014
Summary of Significant Accounting Policies [Abstract]  
Schedule of Share-based Compensation Expense

Share-based compensation expense for the three months ended March 31, 2014 and 2013 was:

 

    Three months ended March 31,  
    2014     2013  
             
Research and development   $ 189,917     $ 88,634  
General and administrative     338,961       239,947  
Total share-based compensation expense   $ 528,878     $ 328,581  

 

 
XML 40 R13.htm IDEA: XBRL DOCUMENT v2.4.0.8
Subsequent Events
 3 Months Ended
Mar. 31, 2014
Subsequent Event [Abstract]  
Subsequent Events

Note 7 - Subsequent Events

  

On April 4, 2014, we received notification from BARDA advising us of its decision to de-scope the current SparVax® anthrax vaccine contract through a partial termination for convenience. BARDA has subsequently provided guidance authorizing PharmAthene to complete six activities under the contract. All other activities were de-scoped, including the proposed Phase 2 clinical trial. PharmAthene has proposed a timeline for completing these contract activities up to and including the submission of its settlement proposal. The company expects these events to occur in the third or fourth quarter of 2014.

 

 

Subsequent to March 31, 2014, we sold 723,073 shares of our common stock under the controlled equity offering, which resulted in net proceeds of approximately $1.1 million. (See Note 6 - Financing Transactions). Aggregate gross proceeds of up to approximately $4.8 million remain available under the arrangement.
XML 41 R14.htm IDEA: XBRL DOCUMENT v2.4.0.8
Summary of Significant Accounting Policies (Policy)
 3 Months Ended
Mar. 31, 2014
Summary of Significant Accounting Policies [Abstract]  
Basis of Presentation

Basis of Presentation

 

Our unaudited condensed consolidated financial statements include the accounts of PharmAthene, Inc. and its wholly-owned subsidiaries. All significant intercompany transactions and balances have been eliminated in consolidation. Our unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States ("U.S. GAAP").  In the opinion of management, the accompanying unaudited condensed consolidated financial statements include all adjustments, consisting of normal recurring adjustments, which are necessary to present fairly our financial position, results of operations and cash flows.  The unaudited condensed consolidated balance sheet at December 31, 2013 has been derived from audited consolidated financial statements at that date.  Interest income in the prior year has been reclassified and is now included in interest income and expense, net on the unaudited condensed consolidated statements of operations to conform with current year's presentation. The interim results of operations are not necessarily indicative of the results that may occur for the full fiscal year.   Certain information and footnote disclosure normally included in the financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to instructions, rules and regulations prescribed by the U.S. Securities and Exchange Commission. We believe that the disclosures provided herein are adequate to make the information presented not misleading when these unaudited condensed consolidated financial statements are read in conjunction with the Consolidated Financial Statements and Notes included in our Annual Report on Form 10-K for the year ended December 31, 2013, filed with the Securities and Exchange Commission. We currently operate in one business segment.

 
Use of Estimates

Use of Estimates

 

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period.  Our unaudited condensed consolidated financial statements include significant estimates for our share-based compensation and the value of our financial instruments, among other things. Because of the use of estimates inherent in the financial reporting process, actual results could differ significantly from those estimates.

 
Foreign Currency Translation

Foreign Currency Translation

 

The functional currency of our wholly owned foreign subsidiaries is their local currency.  Assets and liabilities of our foreign subsidiaries are translated into United States dollars based on exchange rates at the end of the reporting period.  Income and expense items are translated at the weighted average exchange rates prevailing during the reporting period. Translation adjustments for subsidiaries that have not been sold, substantially liquidated or otherwise disposed of, are accumulated in other comprehensive loss, a component of stockholders' equity. Foreign currency translation adjustments are the sole component of accumulated other comprehensive loss at March 31, 2014 and December 31, 2013. Transaction gains or losses are included in the determination of net loss.

 
Cash and Cash Equivalents

Cash and Cash Equivalents

 

Cash and cash equivalents are stated at market value.  We consider all highly liquid investments with original maturities of three months or less to be cash equivalents, which, among other things, consist of investments in money market funds with financial institutions. The Company maintains cash balances with financial institutions in excess of insured limits. The Company does not anticipate any losses on such cash balances.

 
Revolving Line of Credit and Term Loan

Revolving Line of Credit and Term Loan

 

As discussed further in Note 6- Financing Transactions, we entered into a loan agreement with General Electric Capital Corporation ("GE Capital") in March 2012. As part of that agreement, we issued stock purchase warrants to GE Capital that expire in March 2022. The fair value of the warrants was charged to additional paid-in-capital, resulting in a debt discount to the Term Loan at the date of issuance. The debt discount and the financing costs, incurred in connection with the agreement, are being amortized over the term of the loan using the effective interest method and are included in interest expense in the unaudited condensed consolidated statements of operations.

 
Significant Customers and Accounts Receivable

Significant Customers and Accounts Receivable

 

Our primary customers are the Biomedical Advanced Research and Development Authority, or BARDA, and Chemical Biological Medical Systems, or CBMS. As of March 31, 2014 and December 31, 2013, the Company's receivable balances (both billed and unbilled) were comprised solely of receivables from BARDA. See Note 7 - Subsequent Events for further details on the status of our contract with BARDA.

 
Goodwill

Goodwill

 

Goodwill represents the excess of purchase price over the fair value of net identifiable assets associated with acquisitions. We review the recoverability of goodwill annually at the end of our fiscal year and whenever events or changes in circumstances indicate that it is more likely than not that impairment exists. Recoverability of goodwill is reviewed by comparing our market value (as measured by our stock price multiplied by the number of outstanding shares as of the end of the year) to the net book value of our equity. If our market value exceeds our net book value, no further analysis is required. We completed our annual impairment assessment of goodwill on December 31, 2013 and determined that there was no impairment as of that date. Changes in our business strategy or adverse changes in market conditions could impact the impairment analyses and require the recognition of an impairment charge equal to the excess of the carrying value over its estimated fair value.

 
Financial Instruments

Financial Instruments

 

Our financial instruments, and/or embedded features contained in those instruments, often are classified as derivative liabilities and are recorded at their fair values. The determination of fair value of these instrument and features requires estimates and judgments. Some of our stock purchase warrants are considered to be derivative liabilities due to the presence of net settlement features and/or non-standard anti-dilution provisions; the fair value of our warrants is determined based on the Black-Scholes option pricing model.  Use of the Black-Scholes option-pricing model requires the use of unobservable inputs such as the expected term, anticipated volatility and expected dividends. See Note 3- Fair Value Measurements for further details.

 
Revenue Recognition

 Revenue Recognition

 

We generate our revenue from different types of contractual arrangements: cost-plus-fee contracts and fixed price contracts.

 

Revenues on cost-plus-fee contracts are recognized in an amount equal to the costs incurred during the period plus an estimate of the applicable fee earned. The estimate of the applicable fee earned is determined by reference to the contract: if the contract defines the fee in terms of risk-based milestones and specifies the fees to be earned upon the completion of each milestone, then the fee is recognized when the related milestones are earned, as further described below; otherwise, we estimate the fee earned in a given period by using a proportional performance method based on costs incurred during the period as compared to total estimated project costs and application of the resulting fraction to the total project fee specified in the contract.

 

Under the milestone method of revenue recognition, milestone payments (including milestone payments for fees) contained in research and development arrangements are recognized as revenue when: (i) the milestones are achieved; (ii) no further performance obligations with respect to the milestone exist; (iii) collection is reasonably assured; and (iv) substantive effort was necessary to achieve the milestone.

 

Milestones are considered substantive if all of the following conditions are met:

 

  • it is commensurate with either our performance to meet the milestone or the enhancement of the value of the delivered item or items as a result of a specific outcome resulting from our performance to achieve the milestone,

 

  • it relates solely to past performance, and

 

  • the value of the milestone is reasonable relative to all the deliverables and payment terms (including other potential milestone consideration) within the arrangement.

 

If a milestone is deemed not to be substantive, the Company recognizes the portion of the milestone payment as revenue that correlates to work already performed using the proportional performance method; the remaining portion of the milestone payment is deferred and recognized as revenue as the Company completes its performance obligations.

 

Revenue on fixed price contracts (without substantive milestones as described above) is recognized on the percentage-of-completion method. The percentage-of-completion method recognizes income as the contract progresses (generally related to the costs incurred in providing the services required under the contract). The use of the percentage-of-completion method depends on the ability to make reasonable dependable estimates and the fact that circumstances may necessitate frequent revision of estimates does not indicate that the estimates are unreliable for the purpose for which they are used.

 

As a result of our revenue recognition policies and the billing provisions contained in our contracts, the timing of customer billings may differ from the timing of recognizing revenue. Amounts invoiced to customers in excess of revenue recognized are reflected on the balance sheet as deferred revenue. Amounts recognized as revenue in excess of amounts billed to customers are reflected on the balance sheet as unbilled accounts receivable.

 

Upon notice of termination of a contract from the government, all related termination costs are expensed. If there is assurance that collection is reasonably assured, then revenue is taken as if the contract was a cost-plus-fee contract.

 
Share-Based Compensation

Share-Based Compensation

 

We expense the estimated fair value of share-based awards granted to employees under our stock compensation plans. The fair value of stock options is determined at the grant date using the Black-Scholes option pricing model. The Black-Scholes model considers, among other factors, the expected life of the award and the expected volatility of our stock price. The value of the award that is ultimately expected to vest is recognized as expense on a straight line basis over the employee's requisite service period.

 

The fair value of restricted stock grants is determined based on the closing price of our common stock on the award date and is recognized as expense ratably over the requisite service period.  

 

Employee share-based compensation expense recognized in the three months ended March 31, 2014 and 2013 was calculated based on awards ultimately expected to vest and has been reduced for estimated forfeitures at a rate of approximately 12%, based on historical forfeitures. 

Share-based compensation expense for the three months ended March 31, 2014 and 2013 was:

 

    Three months ended March 31,  
    2014     2013  
             
Research and development   $ 189,917     $ 88,634  
General and administrative     338,961       239,947  
Total share-based compensation expense   $ 528,878     $ 328,581  

 

 

During the three months ended March 31, 2014, we granted 1,217,755 options to employees and consultants and made no restricted stock grants.  During the three months ended March 31, 2013, we granted 60,000 options to employees and made no restricted stock grants.  At March 31, 2014, we had total unrecognized share-based compensation expense related to unvested awards of approximately $2.3 million net of estimated forfeitures, which we expect to recognize as expense over a weighted-average period of 2.8 years.

 
Income Taxes

Income Taxes

 

We account for income taxes using the asset and liability approach, which requires the recognition of future tax benefits or liabilities on the temporary differences between the financial reporting and tax bases of our assets and liabilities. A valuation allowance is established when necessary to reduce deferred tax assets to the amounts expected to be realized. We also recognize a tax benefit from uncertain tax positions only if it is "more likely than not" that the position is sustainable based on its technical merits. Our policy is to recognize interest and penalties on uncertain tax positions as a component of income tax expense.

 

Income tax expense was $29,705 and $9,743 during the three months ended March 31, 2014 and 2013, respectively relating exclusively to the generation of a deferred tax liability associated with the tax amortization of goodwill, which is included as a component of other long-term liabilities on our consolidated balance sheets.

 
Basic and Diluted Net Loss Per Share

Basic and Diluted Net Loss Per Share

 

Income (loss) per share: Basic income (loss) per share is computed by dividing consolidated net income (loss) by the weighted average number of common shares outstanding during the period, excluding unvested restricted stock.

 

For periods of net income when the effects are not anti-dilutive, diluted earnings per share is computed by dividing our net income by the weighted average number of shares outstanding and the impact of all potential dilutive common shares, consisting  primarily of stock options, unvested restricted stock and stock purchase warrants.  The dilutive impact of our dilutive potential common shares resulting from stock options and stock purchase warrants is determined by applying the treasury stock method.  

 

For periods of net loss, diluted loss per share is calculated similarly to basic loss per share because the impact of all dilutive potential common shares is anti-dilutive due to the net losses. A total of approximately 12.6 million and 11.6 million potential dilutive securities have been excluded in the calculation of diluted net loss per share in the three months ended March 31, 2014 and 2013, respectively, because their inclusion would be anti-dilutive.
Recent Accounting Pronouncements

Recent Accounting Pronouncements

 

We have evaluated all Accounting Standards Updates through the date the unaudited condensed consolidated financial statements were issued and believe the adoption of these will not have a material impact on our results of operations, financial position, or cash flows.

 
XML 42 R16.htm IDEA: XBRL DOCUMENT v2.4.0.8
Fair Value Measurements (Tables)
 3 Months Ended
Mar. 31, 2014
Fair Value Measurements [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value

 

The following table represents the Company's fair value hierarchy for its financial assets and liabilities measured at fair value on a recurring basis:

 

    As of March 31, 2014  
    Level 1     Level 2     Level 3     Balance  
Assets                                
Investment in money market funds (1)   $ 6,428,787     $ -     $ -     $ 6,428,787  
Total investment in money market funds   $ 6,428,787     $ -     $ -       6,428,787  
                                 
Liabilities                                
Current portion of derivative instruments related to stock purchase warrants   $ -     $ -     $ 2,018     $ 2,018  
Non-current portion of derivative instruments related to stock purchase warrants     -       -       1,495,576       1,495,576  
Total derivative instruments related to stock purchase warrants   $ -     $ -     $ 1,497,594     $ 1,497,594  

 

    As of December 31, 2013  
    Level 1     Level 2     Level 3     Balance  
Assets                                
Investment in money market funds (1)   $ 7,928,807     $ -     $ -     $ 7,928,807  
Total investment in money market funds   $ 7,928,807     $ -     $ -       7,928,807  
                                 
Liabilities                                
Current portion of derivative instruments related to stock purchase warrants   $ -     $ -     $ 51,663     $ 51,663  
Non-current portion of derivative instruments related to stock purchase warrants   $ -     $ -     $ 1,688,572     $ 1,688,572  
Total derivative instruments related to stock purchase warrants   $ -     $ -     $ 1,740,235     $ 1,740,235  

 

  (1) Included in cash and cash equivalents in accompanying condensed consolidated balance sheets.

 

As of March 31, 2014 and December 31, 2013, the Company did not have any transfers between Level 1 and Level 2 assets.
Summary of Changes in Fair Value of Level 3 Liabilities

The following table sets forth a summary of changes in the fair value of the Company's Level 3 liabilities for the three months ended March 31, 2014 and 2013:

 

    Balance as of     Unrealized     Balance as of  
    December 31,     (Gains)     March 31,  
Description   2013     2014     2014  
Derivative liabilities related to stock purchase warrants   $ 1,740,235     $ (242,641 )   $ 1,497,594  

 

      Balance as of       Unrealized       Balance as of  
      December 31,       Losses       March 31,  
Description     2012       2013       2013  
Derivative liabilities related to stock purchase warrants   $ 1,295,613     $ 905,777     $ 2,201,390  

 
XML 43 R21.htm IDEA: XBRL DOCUMENT v2.4.0.8
Summary of Significant Accounting Policies (Schedule of Share-based Compensation Expense) (Details) (USD $)
 3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]    
Total share-based compensation expense $ 528,878 $ 328,581
Research and Development [Member]
    
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]    
Total share-based compensation expense 189,917 88,634
General and Administrative Expense [Member]
    
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]    
Total share-based compensation expense $ 338,961 $ 239,947
XML 44 R26.htm IDEA: XBRL DOCUMENT v2.4.0.8
Stockholders' Equity (Narrative) (Details)
 12 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Dec. 31, 2008
2007 Long Term Incentive Plan [Member]
Mar. 31, 2014
2007 Long Term Incentive Plan [Member]
Dec. 31, 2007
2007 Long Term Incentive Plan [Member]
Stockholders Equity [Line Items]          
Common stock reserved     4,600,000   3,500,000
Shares approved for issuance       10,300,000  
Shares available to be issued       2,500,000  
Options award term     10 years    
Warrants issued to purchase shares of common stock 5,620,128 5,620,128      
XML 45 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (USD $)
 3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS [Abstract]    
Net Loss $ (2,258,440) $ (2,111,385)
Other comprehensive (loss) income:    
Foreign currency translation adjustments (657) (1,684)
Comprehensive loss $ (2,259,097) $ (2,113,069)
XML 46 R10.htm IDEA: XBRL DOCUMENT v2.4.0.8
Commitments and Contingencies
 3 Months Ended
Mar. 31, 2014
Commitments and Contingencies [Abstract]  
Commitments and Contingencies

Note 4 - Commitments and Contingencies

 

SIGA Litigation

 

In December 2006, we filed a complaint against SIGA Technologies, Inc. ("SIGA") in the Delaware Court of Chancery.  The complaint alleged, among other things, that we have the right to license exclusively development and marketing rights for SIGA's drug candidate, Arestvyr™ (Tecovirimat), pursuant to a merger agreement between the parties that was terminated in 2006.  The complaint also alleged that SIGA failed to negotiate in good faith the terms of such a license pursuant to the terminated merger agreement. 

 

In September 2011, the Court issued an opinion in the case finding that SIGA had breached certain contractual obligations to us and upholding our claims of promissory estoppel.  The Court awarded us the right to receive 50% of all net profits (as defined in the court's final judgment) related to the sale of Arestvyr™ and related products for 10 years following initial commercial sale of the drug once SIGA earns $40 million in net profits from the sale of Arestvyr™ and related products.  The Court also awarded us one-third of our reasonable attorney's fees and expert witness fees, which amounts to approximately $2.4 million plus interest. In May 2012, the Court issued its final judgment. SIGA appealed aspects of the decision to the Delaware Supreme Court. In response, we cross-appealed other aspects of the decision.

 

In May 2013, the Delaware Supreme Court issued its ruling on the appeal, affirming the Delaware Court of Chancery's finding that SIGA had breached certain contractual obligations to us, reversing its finding of promissory estoppel, and remanding the case back to the Delaware Court of Chancery to reconsider the remedy and award of attorney's fees and expert witness and other costs in light of the Delaware Supreme Court's opinion. The Delaware Court of Chancery heard final oral arguments on the issue of remedy during the first quarter of 2014, and we expect the court to issue its ruling within the next several months. Currently, because the Delaware Supreme Court remanded the issue of a remedy back to the Delaware Court of Chancery, we no longer have a financial interest in ArestvyrTM and may never receive any proceeds from the product.

 

While we believe there may be significant revenue potential under a potential damages award, there can be no assurance that the Delaware Court of Chancery will re-instate its prior remedy or order another remedy for us, that SIGA will not appeal any subsequent decision by the Delaware Court of Chancery, or that SIGA will not be successful in any subsequent appeal. We have not yet recorded any amount due from SIGA in relation to this case.

  

Government Contracting

 

Payments to the Company on cost-plus-fee contracts are provisional. The accuracy and appropriateness of costs charged to U.S. Government contracts are subject to regulation, audit and possible disallowance by the Defense Contract Audit Agency, or DCAA, and other government agencies such as BARDA. Accordingly, costs billed or billable to U.S. Government customers are subject to potential adjustment upon audit by such agencies. In our opinion, adjustments that may result from audits are not expected to have a material effect on our financial position, results of operations, or cash flows.

 

Registration Rights Agreements

 

We entered into a Registration Rights Agreement with the investors who participated in the July 2009 private placement of convertible notes and related warrants.  We subsequently filed two registration statements on Form S-3 with the Securities and Exchange Commission to register the shares underlying the convertible notes and related warrants, which registration statements have been declared effective. We are obligated to maintain the registration statements effective until the date when all shares underlying the convertible notes and related warrants (and any other securities issued or issuable with respect to in exchange for such shares) have been sold. The convertible notes were converted or extinguished in 2010, although the related warrants remain outstanding. The warrants will expire on January 28, 2015.

 

We have separate registration rights agreements with investors, under which we have obligations to keep the corresponding registration statements effective until the registrable securities (as defined in each agreement) have been sold, and under which we may have separate obligations to file registration statements in the future on either a demand or "piggy-back" basis or both.

 

Under the terms of the convertible notes, which were converted or extinguished in 2010, if after the 2nd consecutive business day (other than during an allowable blackout period) on which sales of all of the securities required to be included on the registration statement cannot be made pursuant to the registration statement (a "Maintenance Failure"), we will be required to pay to each selling stockholder a one-time payment of 1.0% of the aggregate principal amount of the convertible notes relating to the affected shares on the initial day of a Maintenance Failure. Our total maximum obligation under this provision at March 31, 2014, which is not probable of payment, would be approximately $0.2 million.

 

Following a Maintenance Failure, we will also be required to make to each selling stockholder monthly payments of 1.0% of the aggregate principal amount of the convertible notes relating to the affected shares on every 30th day after the initial day of a Maintenance Failure, in each case prorated for shorter periods and until the failure is cured. Our total maximum obligation under this provision, which is not probable of payment, would be approximately $0.2 million for each month until the failure, if it occurs, is cured. 

 
XML 47 R27.htm IDEA: XBRL DOCUMENT v2.4.0.8
Stockholders' Equity (Schedule of Warrants) (Details)
 1 Months Ended 3 Months Ended
Jul. 31, 2009
Mar. 31, 2014
Mar. 31, 2013
Mar. 31, 2014
3.97 [Member]
Warrant [Member]
Mar. 31, 2014
3.00 [Member]
Derivative Instrument Warrants [Member]
Mar. 31, 2014
2.50 [Member]
Warrant [Member]
Mar. 31, 2014
1.89 [Member]
Derivative Instrument Warrants [Member]
Mar. 31, 2014
1.63 [Member]
Derivative Instrument Warrants [Member]
Mar. 31, 2014
3.50 [Member]
Derivative Instrument Warrants [Member]
Mar. 31, 2014
1.61 [Member]
Warrant [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]                    
Number of Common Shares Underlying Warrants   5,620,128 5,620,128 100,778 [1] 705,354 [2] 2,572,775 [1] 500,000 [2] 1,323,214 [2] 371,423 [2] 46,584 [1]
Issue Date       Mar. 01, 2007 Mar. 01, 2009 Jul. 01, 2009 Apr. 01, 2010 Jul. 01, 2010 Jun. 01, 2011 Mar. 30, 2012
Warrants, Exercise price       3.97 3.00 2.50 1.89 1.63 3.50 1.61
Warrant expiration date Jan. 28, 2015     Mar. 01, 2017 Sep. 01, 2014 Jan. 01, 2015 Oct. 01, 2015 Jan. 01, 2017 Jun. 01, 2016 Mar. 01, 2022
[1] These warrants to purchase common stock are classified as equity.
[2] These warrants to purchase common stock are classified as derivative liabilities. The fair value of these liabilities (See Note 3 - Fair Value Measurements) is remeasured at the end of every reporting period and the change in fair value is reported in the unaudited condensed consolidated statements of operations as other income (expense).
XML 48 FilingSummary.xml IDEA: XBRL DOCUMENT 2.4.0.8 Html 51 158 1 true 24 0 false 5 false false R1.htm 001 - Document - Document and Entity Information Sheet http://www.pharmathene.com/role/DocumentAndEntityInformation Document and Entity Information true false R2.htm 002 - Statement - CONDENSED CONSOLIDATED BALANCE SHEETS Sheet http://www.pharmathene.com/role/CondensedConsolidatedBalanceSheets CONDENSED CONSOLIDATED BALANCE SHEETS false false R3.htm 003 - Statement - CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) Sheet http://www.pharmathene.com/role/CondensedConsolidatedBalanceSheetsParenthetical CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) false false R4.htm 004 - Statement - UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Sheet http://www.pharmathene.com/role/UnauditedCondensedConsolidatedStatementsOfOperations UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS false false R5.htm 005 - Statement - UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS Sheet http://www.pharmathene.com/role/UnauditedCondensedConsolidatedStatementsOfComprehensiveLoss UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS false false R6.htm 006 - Statement - UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS Sheet http://www.pharmathene.com/role/UnauditedCondensedConsolidatedStatementsOfCashFlows UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS false false R7.htm 101 - Disclosure - Business and Liquidity Sheet http://www.pharmathene.com/role/BusinessAndLiquidity Business and Liquidity false false R8.htm 102 - Disclosure - Summary of Significant Accounting Policies Sheet http://www.pharmathene.com/role/SummaryOfSignificantAccountingPolicies Summary of Significant Accounting Policies false false R9.htm 103 - Disclosure - Fair Value Measurements Sheet http://www.pharmathene.com/role/FairValueMeasurements Fair Value Measurements false false R10.htm 104 - Disclosure - Commitments and Contingencies Sheet http://www.pharmathene.com/role/CommitmentsAndContingencies Commitments and Contingencies false false R11.htm 105 - Disclosure - Stockholders' Equity Sheet http://www.pharmathene.com/role/StockholdersEquity Stockholders' Equity false false R12.htm 106 - Disclosure - Financing Transactions Sheet http://www.pharmathene.com/role/FinancingTransactions Financing Transactions false false R13.htm 107 - Disclosure - Subsequent Events Sheet http://www.pharmathene.com/role/SubsequentEvents Subsequent Events false false R14.htm 202 - Disclosure - Summary of Significant Accounting Policies (Policy) Sheet http://www.pharmathene.com/role/SummaryOfSignificantAccountingPoliciesPolicy Summary of Significant Accounting Policies (Policy) false false R15.htm 302 - Disclosure - Summary of Significant Accounting Policies (Tables) Sheet http://www.pharmathene.com/role/SummaryOfSignificantAccountingPoliciesTables Summary of Significant Accounting Policies (Tables) false false R16.htm 303 - Disclosure - Fair Value Measurements (Tables) Sheet http://www.pharmathene.com/role/FairValueMeasurementsTables Fair Value Measurements (Tables) false false R17.htm 305 - Disclosure - Stockholders' Equity (Tables) Sheet http://www.pharmathene.com/role/StockholdersEquityTables Stockholders' Equity (Tables) false false R18.htm 306 - Disclosure - Financing Transactions (Tables) Sheet http://www.pharmathene.com/role/FinancingTransactionsTables Financing Transactions (Tables) false false R19.htm 40101 - Disclosure - Business and Liquidity (Details) Sheet http://www.pharmathene.com/role/BusinessAndLiquidityDetails Business and Liquidity (Details) false false R20.htm 40201 - Disclosure - Summary of Significant Accounting Policies (Narrative) (Details) Sheet http://www.pharmathene.com/role/SummaryOfSignificantAccountingPoliciesNarrativeDetails Summary of Significant Accounting Policies (Narrative) (Details) false false R21.htm 40202 - Disclosure - Summary of Significant Accounting Policies (Schedule of Share-based Compensation Expense) (Details) Sheet http://www.pharmathene.com/role/SummaryOfSignificantAccountingPoliciesScheduleOfSharebasedCompensationExpenseDetails Summary of Significant Accounting Policies (Schedule of Share-based Compensation Expense) (Details) false false R22.htm 40301 - Disclosure - Fair Value Measurements (Schedule of Assets and Liabilities Measured at Fair Value) (Details) Sheet http://www.pharmathene.com/role/FairValueMeasurementsScheduleOfAssetsAndLiabilitiesMeasuredAtFairValueDetails Fair Value Measurements (Schedule of Assets and Liabilities Measured at Fair Value) (Details) false false R23.htm 40302 - Disclosure - Fair Value Measurements (Summary of Changes in Fair Value of Our Level 3 Liabilities) (Details) Sheet http://www.pharmathene.com/role/FairValueMeasurementsSummaryOfChangesInFairValueOfOurLevelThreeLiabilitiesDetails Fair Value Measurements (Summary of Changes in Fair Value of Our Level 3 Liabilities) (Details) false false R24.htm 40303 - Disclosure - Fair Value Measurements (Narrative) (Details) Sheet http://www.pharmathene.com/role/FairValueMeasurementsNarrativeDetails Fair Value Measurements (Narrative) (Details) false false R25.htm 40401 - Disclosure - Commitments and Contingencies (Details) Sheet http://www.pharmathene.com/role/CommitmentsAndContingenciesDetails Commitments and Contingencies (Details) false false R26.htm 40501 - Disclosure - Stockholders' Equity (Narrative) (Details) Sheet http://www.pharmathene.com/role/StockholdersEquityNarrativeDetails Stockholders' Equity (Narrative) (Details) false false R27.htm 40502 - Disclosure - Stockholders' Equity (Schedule of Warrants) (Details) Sheet http://www.pharmathene.com/role/StockholdersEquityScheduleOfWarrantsDetails Stockholders' Equity (Schedule of Warrants) (Details) false false R28.htm 40601 - Disclosure - Financing Transactions (Controlled Equity Offering) (Details) Sheet http://www.pharmathene.com/role/FinancingTransactionsControlledEquityOfferingDetails Financing Transactions (Controlled Equity Offering) (Details) false false R29.htm 40602 - Disclosure - Financing Transactions (Loan Agreement with GE Capital) (Details) Sheet http://www.pharmathene.com/role/FinancingTransactionsLoanAgreementWithGeCapitalDetails Financing Transactions (Loan Agreement with GE Capital) (Details) false false R30.htm 40603 - Disclosure - Financing Transactions (Principal Payments on the Term Loan) (Details) Sheet http://www.pharmathene.com/role/FinancingTransactionsPrincipalPaymentsOnTermLoanDetails Financing Transactions (Principal Payments on the Term Loan) (Details) false false R31.htm 40604 - Disclosure - Financing Transactions (Term Loan, Net of Debt Discount) (Details) Sheet http://www.pharmathene.com/role/FinancingTransactionsTermLoanNetOfDebtDiscountDetails Financing Transactions (Term Loan, Net of Debt Discount) (Details) false false R32.htm 40701 - Disclosure - Subsequent Events (Details) Sheet http://www.pharmathene.com/role/SubsequentEventsDetails Subsequent Events (Details) false false All Reports Book All Reports Process Flow-Through: 002 - Statement - CONDENSED CONSOLIDATED BALANCE SHEETS Process Flow-Through: Removing column 'Mar. 31, 2013' Process Flow-Through: Removing column 'Dec. 31, 2012' Process Flow-Through: 003 - Statement - CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) Process Flow-Through: 004 - Statement - UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Process Flow-Through: 005 - Statement - UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS Process Flow-Through: 006 - Statement - UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS pip-20140331.xml pip-20140331.xsd pip-20140331_cal.xml pip-20140331_def.xml pip-20140331_lab.xml pip-20140331_pre.xml true true XML 49 R20.htm IDEA: XBRL DOCUMENT v2.4.0.8
Summary of Significant Accounting Policies (Narrative) (Details) (USD $)
 3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Significant Accounting Policies [Line Items]    
Number of operating segment 1  
Share-based compensation forfeitures rate 12.00%  
Stock options granted 1,217,755 60,000
Unrecognized share-based compensation expense related to unvested awards, net of forfeitures $ 2,300,000  
Unrecognized share-based compensation expense related to unvested awards expected to be recognized in the period 2 years 9 months 18 days  
Anti-dilutive securities excluded from computation of earnings per share 12,600,000 11,600,000
Provision for income taxes $ (29,705) $ (9,743)
Maximum [Member]
    
Significant Accounting Policies [Line Items]    
Cash liquidity maturity period 3 months