0001144204-13-017789.txt : 20130327 0001144204-13-017789.hdr.sgml : 20130327 20130327132520 ACCESSION NUMBER: 0001144204-13-017789 CONFORMED SUBMISSION TYPE: 10-K PUBLIC DOCUMENT COUNT: 12 CONFORMED PERIOD OF REPORT: 20121231 FILED AS OF DATE: 20130327 DATE AS OF CHANGE: 20130327 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Bacterin International Holdings, Inc. CENTRAL INDEX KEY: 0001453593 STANDARD INDUSTRIAL CLASSIFICATION: BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836] IRS NUMBER: 205313323 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-34951 FILM NUMBER: 13719185 BUSINESS ADDRESS: STREET 1: 600 CRUISER LANE CITY: BELGRADE STATE: MT ZIP: 59714 BUSINESS PHONE: 406-388-0480 MAIL ADDRESS: STREET 1: 600 CRUISER LANE CITY: BELGRADE STATE: MT ZIP: 59714 FORMER COMPANY: FORMER CONFORMED NAME: K KITZ INC DATE OF NAME CHANGE: 20090108 10-K 1 v337332_10k.htm 10-K

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

FORM 10-K

 

(Mark One)

 

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

 

For the fiscal year ended December 31, 2012

 

or

 

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

 

For the transition period from                      to                     

 

Commission file number:             001-34951         

 

Bacterin International Holdings, Inc.
 
(Exact Name of Registrant as Specified in Its Charter)

 

Delaware   20-5313323

(State or other jurisdiction of

incorporation or organization)

  

(IRS Employer Identification No.)

 

     
664 Cruiser Lane
Belgrade, Montana		   59714
(Address of Principal Executive Offices)   (Zip Code)

 

(406) 388-0480
(Registrant’s Telephone Number, Including Area Code)

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Name of each exchange on which registered
Common stock, par value $.000001 per share   NYSE MKT LLC

 

Securities registered pursuant to Section 12(g) of the Act:                          None

 

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.  Yes ¨ No þ

 

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Exchange Act.   Yes ¨ No þ

 

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 þ 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 during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).  Yes þ No ¨

 

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K.   ¨

 

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

 

Large accelerated filer ¨ Accelerated filer ¨
Non-accelerated filer ¨ Smaller reporting company þ
(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 Exchange Act).  Yes ¨ No þ

 

The aggregate market value of the common stock held by non-affiliates as of June 30, 2012 was $35,147,703 (based on the closing price of the Company’s common stock on June 29, 2012, the last business day of the Company’s most recently completed second fiscal quarter, as reported on the NYSE MKT).

 

The number of shares of the Company’s common stock, $0.000001 par value, outstanding as of March 5, 2013 was 42,649,964.

 

DOCUMENTS INCORPORATED BY REFERENCE

 

None

 

 
 

 

TABLE OF CONTENTS

 

PART I  
     
ITEM 1. Business 4
ITEM 1A. Risk Factors 11
ITEM 1B. Unresolved Staff Comments 18
ITEM 2. Properties 18
ITEM 3. Legal Proceedings 18
ITEM 4. Mine Safety Disclosures 19
   
PART II  
     
ITEM 5. Market For Registrant's Common Equity, Related Stockholder Matters And Issuer Purchases of Equity Securities 19
ITEM 6. Selected Financial Data 20
ITEM 7. Management’s Discussion And Analysis of Financial Condition and Results of Operation 20
ITEM 7A Quantitative and Qualitative Disclosures About Market Risk 23
ITEM 8. Financial Statements 23
ITEM 9. Changes in And Disagreements With Accountants on Accounting and Financial Disclosure 44
ITEM 9A. Controls And Procedures 44
ITEM 9B. Other Information 44
     
PART III    
     
ITEM 10. Directors, Executive Officers and Corporate Governance 45
ITEM 11. Executive Compensation 49
ITEM 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 51
ITEM 13. Certain Relationships and Related Transactions, and Director Independence 52
ITEM 14. Principal Accounting Fees and Services 52
     
PART IV    
     
ITEM 15. Exhibits, Financial Statements Schedules 53
     
SIGNATURES 54
   
Exhibit Index 55

 

1
 

 

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

 

The statements contained in this Form 10-K that are not purely historical are forward-looking statements within the meaning of applicable securities laws.  Our forward-looking statements include, but are not limited to, statements regarding our “expectations,” “hopes,” “beliefs,” “intentions,” or “strategies” regarding the future.  In addition, any statements that refer to projections, forecasts, or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements.  The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should” and “would,” as well as similar expressions, may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward looking.  Forward-looking statements in this Form 10-K may include, for example, statements about:

 

¨the future performance and market acceptance of our products;

 

¨our ability to maintain our competitive position;

 

¨negative media publicity;

 

¨our ability to obtain donor cadavers for our products;

 

¨our ability to expand our production capacity;

 

¨our efforts to innovate and develop new products;

 

¨our ability to engage and retain qualified technical personnel and members of our management team;

 

¨our reliance on our current facilities;

 

¨our ability to generate funds or raise capital to finance our growth;

 

¨our efforts to expand our sales force;

 

¨the ability of our sales force to achieve expected results;

 

¨government regulations;

 

¨fluctuations in our operating results;

 

¨government and third-party coverage and reimbursement for our products;

 

¨our ability to manage our growth;

 

¨our ability to successfully integrate future business combinations or acquisitions;

 

¨our ability to obtain regulatory approvals;

 

¨product liability claims and other litigation to which we may be subjected;

 

¨product recalls and defects;

 

¨timing and results of clinical trials;

 

¨our ability to obtain and protect our intellectual property and proprietary rights;

 

¨infringement and ownership of intellectual property;

 

¨our ability to attract broker coverage;

 

¨the trading market, market prices, dilution, and dividends of our common stock;

 

¨influence by our management; and

 

2
 

 

¨our ability to issue preferred stock.

 

The forward-looking statements contained in this Form 10-K are based on our current expectations and beliefs concerning future developments and their potential effects on us.  There can be no assurance that future developments affecting us will be those that we have anticipated.  These forward-looking statements involve a number of risks, uncertainties, or assumptions, many of which are beyond our control, which may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements.  These risks and uncertainties include, but are not limited to, those factors described in the “Risk Factors” section of our Form 10-K.  Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements.  We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities laws.

 

3
 

 

PART I

 

Item 1. Business

 

Unless the context otherwise requires, “we,” “our,” “us” and similar expressions used in this Business section refer to Bacterin International, Inc. (“Bacterin”) prior to the closing of the Reverse Merger on June 30, 2010, and Bacterin International Holdings, Inc., f/k/a K-Kitz, Incorporated (the “Company”), as successor to the business of Bacterin, following the closing of the Reverse Merger transaction.

 

Overview of Our Business

 

We develop, manufacture and market biologics products to domestic and international markets through our biologics division. Our products are used in a variety of applications including enhancing fusion in spine surgery, relief of back pain with a facet joint stabilization, promotion of bone growth in foot and ankle surgery, promotion of skull healing following neurosurgery and subcondral bone defect repair in knee and other joint surgeries. 

 

Our medical devices division develops medical devices intended for use in several diverse clinical areas including orthopedic, plastic, and cardiovascular surgery. Our background and expertise is in the research, testing, and development of coatings for medical devices. In addition to the manufacture and sales of coated medical devices, the medical devices division works with our biologics division to produce and distribute OsteoSelect® DBM putty, an osteoinductive product used by surgeons as a bone void filler in the extremities and pelvis.  DBM putty is considered a combination product by regulatory agencies - both a tissue and a medical device.

 

The medical devices division also develops custom surgical instruments for use with allografts processed by our biologics division. These state-of-the-art instruments are designed based upon the needs and inputs of surgeons. The instruments are intended to provide optimal placement of our proprietary allografts. Objectives of allograft use include pain relief, aid in the regeneration of tissue, and to provide a scaffold for bone fusion in spinal and sports medicine procedures.

 

The medical devices division actively develops intellectual property associated with our devices and coating platforms, for the purposes of protecting our Bacterin-branded devices and for use in alliance projects. The manufacturing and operations of the biologics and medical devices divisions are organized separately while products from both are marketed through several channels including independent distributors, joint development projects and our direct sales network.

 

Our Offices

 

Our headquarters, laboratory and manufacturing facilities are located at 600 Cruiser Lane, Belgrade, Montana 59714.  Our telephone number is (406) 388-0480 and our fax number is (406) 388-0422.  We also own a facility located at 664 Cruiser Lane, Belgrade, Montana 59714, and lease space at 732 Cruiser Lane, Belgrade, Montana 59714 and 8310 S. Valley Highway, No. 300, Englewood, Colorado 80112.

 

Our History

 

We began operations in 1998 as a sole proprietorship founded by Guy Cook, our Chief Executive Officer, as a spinout of the Center for Biofilm Engineering at Montana State University, or the CBE.  Mr. Cook is an expert in microbial testing methods and has been recognized by the U.S. Food and Drug Administration, or the FDA, industry, and academia for his contributions to the development of bioactive coatings.  This sole proprietorship was eventually incorporated as “Bacterin, Inc.” in the state of Montana in January 2000 to further Mr. Cook’s work.  In March 2004, Bacterin, Inc.’s stockholders completed the terms of a share exchange agreement with a company called Oil & Gas Seekers, Inc., a Nevada corporation, or OGS, which subsequently changed its name to “Bacterin International, Inc.”, to effectively become a publicly-traded corporation.  As a result of this transaction, the stockholders of Bacterin, Inc., the Montana corporation, became stockholders of Bacterin International, Inc., the Nevada corporation, and Bacterin, Inc., the Montana corporation, became a wholly owned subsidiary of Bacterin International, Inc., the Nevada corporation. At the end of 2004, management concluded that this transaction was problematic and did not deliver the expected result. Based on this determination, we entered into an agreement in 2005 to amend the terms of the exchange transaction with the former majority stockholder of OGS. In May 2005, we merged Bacterin, Inc., the Montana corporation, up and into Bacterin International, Inc., the Nevada corporation.

 

Leveraging off the “state of the art” research and development activities ongoing at the CBE in biofilm technology, we began as a biomaterials testing laboratory and have systematically expanded our strategic vision towards the development of Bacterin-labeled medical devices.  Our revenues were historically derived from testing services and milestone payments from collaborative product development agreements with various “blue chip” medical manufacturers.  Today, however, we generate revenue from a number of sources including the following: sales from products developed and manufactured by us, sales of products manufactured by a third party and sold and distributed by us, and contract revenue from analytical testing, development and manufacturing services provided to medical device manufacturer clients, which tailor our coating process to the client’s specific product/medical application.

 

4
 

 

During 2008, we reached an important transition point in our history.  Most of our business endeavors prior to that time had been devoted to developing our products with revenue generated from a variety of limited sources, including testing, government grants and unsubstantial product sales.  In 2008, however, revenue from product sales either under our name or “private label” became our primary source of revenue.

 

On June 30, 2010, we completed a reverse merger transaction, or the Reverse Merger, in which we caused Bacterin International, Inc. to be merged with and into a wholly-owned Nevada subsidiary of Bacterin International Holdings, Inc. f/k/a K-Kitz Incorporated, a Delaware corporation, and as a result, Bacterin International, Inc. became a wholly owned subsidiary of Bacterin International Holdings, Inc. The Reverse Merger was consummated under Nevada corporate law pursuant to an Agreement and Plan of Merger, dated as of June 30, 2010.  As a result of the Reverse Merger, Bacterin International, Inc. became our wholly owned subsidiary and we are now engaged, through Bacterin International, Inc., in the business of biomaterials research, development, and commercialization.

 

Before the Reverse Merger, Bacterin International Holdings, Inc. was known as K-Kitz, Incorporated, with a trading symbol of KKTZ.OB.  On June 29, 2010, K-Kitz Incorporated changed its corporate name to “Bacterin International Holdings, Inc.” which name change became effective for trading purposes on July 1, 2010, following the reverse merger transaction.  Effective July 21, 2010, our trading symbol was changed from KKTZ.OB to BIHI.OB. On March 7, 2011, our common stock began trading on the NYSE Amex under the ticker symbol “BONE.”

 

Recent Developments

 

On April 23, 2012, the Company secured an accounts receivable credit facility with Midcap Financial LLC and Silicon Valley Bank. The revolving loan credit facility allowed Bacterin to borrow up to $5 million through January 1, 2015. The facility allowed borrowings based upon a predetermined formula of up to 80% of Bacterin's eligible accounts receivable, as defined in the credit and security agreement. The Company also amended its existing Loan and Security Agreement with MidCap to allow the Company to borrow up to an additional $3 million for the next nine months in connection with a permitted acquisition. The credit facility carried an interest rate of LIBOR plus 4%, subject to a LIBOR floor rate of 2.5%. The Company also agreed to pay a 0.5% collateral management fee on the average outstanding balance of the facility and 1% of the average unused portion of the facility, as well as a 1% origination fee. The Company repaid this accounts receivable credit facility in full with the proceeds from the credit facility with ROS Acquisition Offshore LP on August 24, 2012.

 

On August 24, 2012, the Company entered into a Credit Agreement with ROS Acquisition Offshore LP (“ROS”), whereby ROS agreed to provide an initial $20 million term loan and Bacterin may also borrow an additional $5 million upon achievement of certain revenue objectives prior to December 31, 2013. The loan carries an interest rate of LIBOR plus 12.13%, subject to a LIBOR floor rate of 1.0%. Bacterin also agreed to pay a royalty of 1.75% on the first $45,000,000 of net sales, plus 1.0% of net sales in excess of $45,000,000 for each of the next ten years.. Bacterin has the right to repurchase the loan and royalty interest at an amount to be determined based on the date of repurchase and the amount of prior principal, interest and royalty payments. We received net proceeds of approximately $10 million following repayment of the existing term loan and accounts receivable credit facility with MidCap Financial. The loan is secured by substantially all of our assets.

 

Industry and Market Overview

 

The orthopedic biomaterials market consists of materials that are organic, inorganic or synthetic in nature. These materials are implanted or applied in or near the indicated bone to facilitate healing, encourage bone tissue augmentation, compensate in areas where bone tissue is depleted and restore structure to allow for repair. Orthopedic biomaterials are capable of producing specific biological action or regenerative responses that are beyond what is observed in normal healing. These materials are often used as substitutes to autograft materials, which are taken from a harvest site in the patient to patch or repair the wounded or unhealthy site. Bone is a biologically active tissue and may or may not regenerate depending on the condition of the patient.  The damage may be significant enough that a scaffold to help regenerate the surgical site may be necessary. 

 

Products and Services

 

We have developed and currently manufacture and sell several human tissue-based products, primarily allografts, in the medical marketplace through our biologics division.  In addition, we also manufacture and sell, directly under our own name and indirectly through distributors, various coating and surgical drain products through our medical devices division.

 

Biologics Division

 

Our biologics products include OsteoSponge®, OsteoSponge®SC, OsteoWrap®, OsteoLock®, BacFast® and hMatrix® as well as certain other allograft products which are briefly described below:

 

¨OsteoSponge® is a form of demineralized bone matrix made from 100% human bone. Derived from trabecular (cancellous) bone, OsteoSponge® provides a natural scaffold for cellular in-growth and exposes bone-forming proteins to the healing environment.  The malleable properties of OsteoSponge® enable it to conform to, and fill, most defects.  Upon compressing the allograft, OsteoSponge® springs back to completely fill the void.  Its unique mechanical and biological properties make OsteoSponge® an ideal bone graft for use in various orthopedic practices including spine, neurology, cranial/maxillofacial, trauma, plastic/reconstruction and general procedures where new bone growth is needed.

 

5
 

 

¨OsteoSponge®SC is a form of OsteoSponge® designed to be used in joint surgery.  Bacterin has shown, in goat studies, the ability to re-generate cartilage in joint repair and we believe that this product has the potential to significantly change the standard of care in human joint surgery.  We have received permission from the FDA to market this product as a subchondral bone void filler and are currently marketing it as such.  In order to market OsteoSponge®SC as a cartilage re-generation scaffold, we would need to obtain FDA approval to begin marketing for that indication.

 

¨OsteoWrap® is 100% human cortical bone demineralized through a proprietary process to make the graft flexible while maintaining allograft integrity.  This product has various applications in orthopedic, neurological, trauma, oral/maxillofacial and reconstructive procedures.  OsteoWrap® can wrap around non-union fractures to assist with fusion, can act as a biologic plate or can be used in conjunction with a hardware plate system.  Additionally, this product provides the surgeon with superior handling characteristics as the allograft can be easily sized using surgical scissors or a scalpel, and will withhold sutures or staples for fixation.

 

¨OsteoLock® and BacFast® are facet stabilization dowels made from human bone.  The shape of our facet stabilization dowel is engineered to maximize osteoconductivity and surface area contact, as well as provide stability to prevent migration from the surgical site.  BacFast® HD, having the same design as OsteoLock®, is optimized through our proprietary demineralization technology.  This technology increases the surface area of the outer collagen matrix of the graft while exposing native bone morphogenic proteins (BMPs) and growth factors.  Because of the hyper-demineralization technology, BacFast® HD has osteoinductive properties, as well as being osteoconductive.  OsteoLock® and BacFast® can be used to augment spinal procedures, or as a stand-alone procedure for mild spinal conditions.

 

¨hMatrix® dermal scaffold is an extension of Bacterin's core biologics technology and our third human acellular biological scaffold.  hMatrix® is an acellular matrix made from donated human dermal tissue that is used to replace a patient's damaged tissue.  hMatrix® provides a natural collagen tissue scaffold that promotes cellular ingrowth, tissue vascularization and regeneration.  The hMatrix® scaffold tissue reabsorbs into the patient's dermal tissue for a biocompatible, natural repair.

 

In addition, we make and sell (i) sports allografts which are processed specifically for anterior and posterior cruciate ligament repairs, anterior cruciate ligament reconstruction and meniscal repair, (ii) milled allografts which are comprised of cortical bone milled to desired shapes and dimensions, also called milled spinal allografts, and (iii) traditional allografts for multi-disciplinary applications including orthopedics, neurology, podiatry, oral/maxillofacial, genitourinary and plastic/reconstructive.

 

The Company has multiple physician-initiated studies that continue to prove expanded indications for our products.

 

Medical Device Products

 

Our medical devices division researches, tests and develops coatings for medical devices.  This division also produces and distributes OsteoSelect® DBM putty, an osteoinductive and osteoconductive product used by surgeons as a bone void filler.

 

OsteoSelect® DBM putty is engineered with the surgeon in mind.  With outstanding handling characteristics, OsteoSelect® can be easily molded into any shape and compressed into bony voids. Taking the design a step further, Bacterin has validated a low-dose, low-temperature gamma sterilization process to provide maximum osteoinductive potential while still affording device level sterility. Every production batch of OsteoSelect® is tested for osteoinductive bone growth characteristics allowing us to make that unique marketing claim.

 

Our medical devices division also develops custom surgical instruments for use with allografts processed by our biologics division. These instruments offer state-of-the-art design based upon the needs and inputs of surgeons who desire to use advanced minimally invasive techniques. These instruments are intended to provide optimal placement of our proprietary allografts. Objectives of allograft use include pain relief, aid in tissue regeneration, and provision of a scaffold for bone fusion in spinal and sports medicine procedures.  Additionally, we sell a hubless surgical drain series called ViaTM, which is used to drain exudate from a surgical site.  ViaTM is available in five sizes, with and without an attached trocar to aid in placement. Building upon the ViaTM platform, Bacterin created a second generation product called Elutia® surgical drains which are performance enhanced via our proprietary coating technology.

 

As a consequence of a joint development project with RyMed Technologies, Inc., we treat RyMed’s InVision-Plus CS™ with a proprietary coating technology. We receive a fixed price for each InVision-Plus CS™ unit sold by RyMed on all devices treated for RyMed.

 

6
 

 

Technology and Intellectual Property

  

Patents, trademarks and other proprietary rights are very important to our business. We also rely upon trade secrets, manufacturing know-how, continuing technological innovations and licensing opportunities to maintain and improve our competitive position. We review third-party proprietary rights, including patents and patent applications, as available, in an effort to develop an effective intellectual property strategy, avoid infringement of third-party proprietary rights, identify licensing opportunities and monitor the intellectual property owned by others.

 

Patents

 

We have numerous provisional applications pending in the United States that relate to aspects of the technology used in many of our products. Our policy is to file patent applications in the United States and other countries when we believe it is commercially advantageous to do so. We do not consider our business to be materially dependent upon any individual patent.

 

Our patent efforts have been, and will continue to be, primarily focused in two key areas:

 

¨The addition of bioactive agents impregnated into or onto metals, polymers or tissues which are intended to protect the surface of medical devices against microbial contamination; and

 

¨The development of innovative and novel, engineered tissue implants or constructs which employ acellular tissue and processes, and enhanced demineralized bone matrix products.

 

The following table summarizes our current patent portfolio, including patents covering technology licensed by us for use or inclusion in certain of our products:

 

Title   First Inventor   Serial or Patent Number   Date Filed or Granted   Status
                 
1. Pending U.S. Applications                
                 
MEDICAL DEVICE INCLUDING A BIOACTIVE IN A NON-IONIC AND AN IONIC FORM AND METHODS OF PREPARATION THEREOF   Mike Johnson   11/864,360   9/28/2007   Pending
                 
ANTIMICROBIAL COATING FOR INHIBITION OF BACTERIAL ADHESION AND BIOFILM FORMATION   Guy Cook   10/891,885   7/15/2004   Pending
                 
PROCESS FOR DEMINERALIZATION OF BONE MATRIX WITH PRESERVATION OF NATURAL GROWTH FACTORS   Nancy J. Shelby   12/130,384   5/30/2008   Pending
                 
PROCESS FOR DEMINERALIZATION OF BONE MATRIX WITH PRESERVATION OF NATURAL GROWTH FACTORS   Nancy J. Shelby   13/453818   4/23/2012   Pending
                 
DRIVER-FIXATOR SYSTEM, METHOD, AND APPARATUS   R. Robinson   US20080243135   1/6/2008   Pending
                 
2. Pending Foreign Applications                
                 
MEDICAL DEVICE INCLUDING A BIOACTIVE IN A NON-IONIC AND AN IONIC FORM AND METHODS OF PREPARATION THEREOF   Mike Johnson   PCT/US2007/079924   9/28/2007   Pending
                 
ANTIMICROBIAL COATING FOR INHIBITION OF BACTERIAL ADHESION AND BIOFILM FORMATION   Guy Cook   PCT/US2005/015162   4/28/2005   Issued in Australia, otherwise pending
                 
PROCESS FOR DEMINERALIZATION OF BONE MATRIX WITH PRESERVATION OF NATURAL GROWTH FACTORS   Nancy J. Shelby   PCT/US2008/006942   6/2/2008   Pending
                 
AN ELASTOMERIC ARTICLE INCORPORATED WITH A BROAD SPECTRUM ANTIMICROBIAL   Benjamin P. Luchsinger   PCT/US2009/005103   9/11/2009   Pending
                 
SURGICAL KIT AND METHOD FOR BONE REPAIR   Guy S. Cook   PCT/US2012/042858   06/18/2012   Pending

 

 

7
 

 

We believe our patent filings and patent position will facilitate growth and enhance our proprietary core competencies, enabling us to protect and expand revenue growth and stockholder value in the future. We expect that additional patent applications will be filed and prosecuted as inventions are discovered, technological improvements and processes are developed and specific applications are identified.

 

We anticipate that there may be instances in which we enter into collaborative research and development agreements with other companies under such terms that the other company may or will retain a right to make future patent filings arising from such cooperative development agreements. In such instances, we will attempt to protect our overall patent use rights by agreements which limit the right of the collaborative party to an exclusive right only as it pertains to the field of use, as defined by the applicable project’s scope of work. In this manner, we anticipate that we will receive future benefit and use of such intellectual property outside the field of use, as defined by any given scope of work. There can be no assurance that we will be able to obtain final approval of any patents. 

 

Trademarks

 

We believe in the superiority of our technology and products.  As a result, we have invested in the development of the names of our products in order to drive consumer awareness and loyalty to the brand.  To protect this investment, we have registered, and continue to seek registration, of these trademarks and continuously monitor and aggressively pursue users of names and marks that potentially infringe upon our registered trademarks.  We currently own the following registered trademarks:  OsteoSponge®, OsteoWrap®, OsteoLock®, BacFast®, OsteoSelect®, Elutia®, QuickScrew® and hMatrix®. 

 

Trade Secrets

 

To safeguard our proprietary knowledge and technology, we rely heavily upon trade secret protection and non-disclosure/confidentiality agreements with employees, consultants and third party collaboration partners with access to our confidential information. There can be no assurance, however, that these measures will adequately protect against the unauthorized disclosure or use of confidential information, or that third parties will not be able to independently develop similar technology. Additionally, there can be no assurance that any agreements concerning confidentiality and non-disclosure will not be breached, or if breached, that we will have an adequate remedy to protect us against losses. Although we believe our proprietary technology has value, because of rapid technological changes in the medical industry, we also believe that proprietary protection is of less significance than factors such as the intrinsic knowledge and experience of our management, advisory board, consultants and personnel and their ability to identify unmet market needs and to create, invent, develop and market innovative and differentiated products.

 

Donor Procurement

 

We have agreements with multiple tissue banks and we continue to expand our network for donor tissue in anticipation of increased production.  We expect to be able to continue to build our network for donor tissue as our production capabilities and sales increase.

 

Sales and Marketing

 

We began implementing a direct sales network in July 2009, and we are committed to building our direct sales channel into the primary method of distributing our products. We have one National Sales Manager and four executive vice-presidents to lead this effort and we have established 13 regions with regional managers in charge of all activities within the region.  We have hired and trained 39 sales representatives, two distribution managers, and two associate sales representatives. We have also hired a VP of Business Development.  

 

8
 

 

We also market our products through independent commission based distributors and stocking distributors who receive a discount off of our list price and then sell to their customer base. 

 

Growth Strategy

 

In an effort to capitalize on our core markets, as well as new market opportunities, we have diversified our supply of donor tissue, expanded our production capabilities, developed our direct sales force, refined the message to our market and started gathering proof points on how to scale our revenue in these markets.

 

As discussed in “Sales and Marketing” above, we began implementing a direct sales network in July 2009.  We currently have one National Sales Manager, 4 executive vice presidents, 13 regional managers, 39 sales representatives, 2 distribution managers and 2 associate sales representatives.

 

We are pursuing a high-level, national effort to present our products as a value proposition to hospital chains and other purchasing organizations.  To this end, we have entered into agreements with Banner Hospitals, the Hospital for Special Surgery, MedAssets, Novation, Premier, ROi, and Access Mediquip.  These agreements are paving the way for our sales representatives to call on additional physicians, as the hospital process has already been approved.

 

Competition

 

Because the orthopedic biomaterials market overlaps with a number of medical fields - spine, trauma, joint reconstruction, sports medicine, pharmaceuticals and biotechnology - fragmentation is to be expected. However, there is one clear leader in the market: Medtronic.  Medtronic’s lead is based on the strength of their Infuse® growth factor product. However, the growth potential of Infuse® has been affected by some negative media attention regarding off-label usage and adverse events with specific indications.

 

Beyond Medtronic, the orthopedic biomaterials market is comprised of a great number of players, each offering a multitude of products. It is expected that several new products will emerge over the coming years. These assumptions are based on the advance of technology and the clinical promise of regenerative therapies such as stem cells and bone marrow concentration.

 

Competitors in the orthopedic biomaterials markets include: Medtronic, DePuy, Arthrex, Smith & Nephew, Nuvasive,  OrthoFix, Biomet, Orthovita, MTF, Stryker, RTI, AlloSource, Lifenet Health, Integra, ConMed/Linvatec, Wright, Exactech, ArthroCare, Harvest, and Arteriocyte.

 

Government Regulation

 

We are registered with the FDA as a manufacturer of human cellular and tissue products (HCT/Ps) as well as medical devices, and we are an accredited member of the American Association of Tissue Banks in good standing.  We meet all licensing requirements for the distribution of HCT/Ps in the States of Florida, California, Louisiana, Maryland and New York.  Our industry is highly regulated and we cannot predict the impact of future regulations on either us or our customers.

 

Human Tissue

 

Human tissue products, which we sell through our biologics division, have been regulated by the FDA since 1993. In May 2005, three new, comprehensive regulations went into effect that address manufacturing activities associated with HCT/Ps. The first requires that companies that produce and distribute HCT/Ps register with the FDA. The second provides criteria that must be met for donors to be eligible to donate tissues and is referred to as the “Donor Eligibility” rule. The third rule governs the processing and distribution of the tissues and is often referred to as the “Current Good Tissue Practices” rule. Together, they are designed to ensure that sound, high quality practices are followed to reduce the risk of tissue contamination and of communicable disease transmission to recipients.  Our HCT/P products such as OsteoSponge® are regulated by the Center for Biologics Evaluation and Research.  Our OsteoSponge® and OsteoWrap® products are regulated as a HCT/P as determined by the Tissue Reference Group and regulated solely under Section 361 of the Public Health Service Act and 21 CFR Part 1271.

 

Medical Devices

 

Our medical devices require the clearance of the FDA prior to sale within the United States.  The manufacturers and licensees who use our coating technology in their medical devices have the burden of demonstrating the safety and efficacy of the medical devices, and we assist such manufacturers and licensees in demonstrating safety and efficacy to the extent our coating technologies are at issue.  Sales of medical devices using our coating technology in the European Union require CE Mark certification and sales of such medical devices in Canada require approval from the Medical Device Bureau of Canada.

 

Within the United States, the FDA process requires a pre-market notification, or a 510(k) submission, to the FDA to demonstrate that the medical device is safe and effective and is substantially equivalent to a legally marketed device that is not subject to pre-market approval.  Applicants must compare the device to one or more similar devices that are commercially available in the U.S. (known as the “predicate device”), and make and support a claim of substantial equivalency to such predicate device.  Support for such claims must include descriptive data and, when necessary, performance data.  In some cases, data from clinical trials must also be submitted in support of a 510(k) Submission.  The FDA must then issue an order finding substantial equivalency before the devices may be commercially distributed in the U.S.  This process can take anywhere from three months to two or three years, and can be extremely expensive.  The Center for Devices and Radiological Health regulates medical devices, including our OsteoSelect® DBM putty.

 

9
 

 

ISO Certification

 

In March 2010, we announced that we had received certification from the International Organization for Standardization, or ISO, for fulfilling the requirements of ISO 13485:2003, and in February 2013 we announced that we also received ISO certification for our biologics division.  The Geneva based International Organization for Standardization is the world’s largest developer and publisher of International Standards.  ISO 13485:2003 specifies requirements for a quality management system. To obtain ISO 13485:2003 certification, an organization must demonstrate its ability to provide medical devices that consistently meet applicable customer and regulatory requirements. The primary objective of ISO 13485:2003 is to facilitate harmonized medical device regulatory requirements for quality management systems.  All requirements of ISO 13485:2003 are specific to organizations providing medical devices, regardless of the type or size of the organization.  The certification assures our customers and partners of our commitment to quality, and in the quality of our innovative products and processes.  Additionally, we believe that the ISO 13485:2003 certification offers new markets and business opportunities for our products in the global marketplace.

 

Employees

 

As of January 28, 2013, we had 177 full-time employees and 189 total employees, of whom 91 were in production, 62 were in sales, 6 were in marketing, and 30 were in administrative functions.  In addition, we make use of a varying number of outsourced services to manage normal business cycles.  None of our employees are covered by a collective bargaining agreement and management considers relations with employees and services partners to be good.

 

Facilities

 

We lease approximately 16,000 square feet in a building located at 600 Cruiser Lane, Belgrade, Montana 59714.  This space includes six Class 100 (ISO 5) clean rooms, a fully equipped diagnostics laboratory, microbiology laboratory and testing laboratory.  In addition, eight new clean rooms are under construction. We lease the building under a ten-year operating lease which runs through August 2013 and has a monthly lease payment of $10,000.  The lease also has a ten-year renewal option which we recently exercised.

 

In November 2007, we purchased a 14,000 square foot facility at 664 Cruiser Lane, Belgrade, Montana 59714.  This building is an FDA registered facility with a Class 10,000 (ISO 7) environmentally controlled area and currently houses our medical device coatings operations.  The validated manufacturing areas and laboratory facilities located in this facility provide processing and testing space to manufacture medical devices pursuant to FDA, GMP regulations, and ISO 13485:2003.  We expect this facility to meet all of our regulatory requirements for the manufacture of current and future Bacterin-label medical device products, including our surgical drains (ViaTM and Elutia®), as well as production requirements for coated medical devices from our medical device partners.  The facility is registered with the FDA for device design, device manufacture, and contract manufacture, as well as for screening, testing, storing, and distributing biological tissues.

 

We also lease space at 732 Cruiser Lane, Belgrade, Montana 59714, where one Class 1,000 (ISO 6) clean room is under construction, and we lease office space in Englewood, Colorado, where certain of our administrative functions are housed.

 

10
 

 

ITEM 1A. RISK FACTORS

 

Our business and an investment in our securities are subject to a variety of risks. The following risk factors describe some of the most significant events, facts or circumstances that could have a material adverse effect upon our business, financial condition, results of operations, ability to implement our business plan and the market price for our securities. Many of these events are outside of our control. If any of these risks actually occurs, our business, financial condition or results of operations may be materially adversely affected. In such case, the trading price of our common stock could decline and investors in our common stock could lose all or part of their investment.

 

The impact of United States healthcare reform legislation remains uncertain.

 

In 2010 federal legislation to reform the United States healthcare system was enacted into law. The law was upheld by a Supreme Court decision announced on June 28, 2012. The legislation is far-reaching and is intended to expand access to health insurance coverage, improve quality and reduce costs over time. Among other things, the new law imposes a 2.3 percent excise tax on medical devices beginning January 2013, which will apply to United States sales of our medical device products, including our wound drains and OsteoSelect® DBM putty. Due to multi-year pricing agreements and competitive pricing pressure in our industry, there can be no assurance that we will be able to pass the cost of the device tax on to our customers. Other provisions of this legislation, including Medicare provisions aimed at improving quality and decreasing costs, comparative effectiveness research, an independent payment advisory board, and pilot programs to evaluate alternative payment methodologies, could meaningfully change the way healthcare is developed and delivered. We cannot predict the impact of this legislation or other healthcare programs and regulations that may ultimately be implemented at the federal or state level, the effect of any future legislation or regulation in the United States or internationally or whether any changes will have the effect of lowering prices for our products or reducing medical procedure volumes.

 

Pricing pressure and cost containment measures could have a negative impact on our future operating results.

 

Pricing pressure has increased in our industry due to continued consolidation among healthcare providers, trends toward managed care, the shift towards government becoming the primary payer of healthcare expenses, and government laws and regulations relating to reimbursement and pricing generally. Pricing pressure, reductions in reimbursement levels or coverage or other cost containment measures could unfavorably affect our future operating results and financial condition.

 

Future regulatory action remains uncertain.

 

We operate in a highly regulated environment, and any legal or regulatory action could be time-consuming and costly. If we fail to comply with all applicable laws, standards and regulations, action by the FDA or other regulatory agencies could result in significant restrictions, including restrictions on the marketing or use of our products or the withdrawal of products from the market.  Any such restrictions or withdrawals could materially affect our business and operations.  In addition, governmental authorities could impose fines, seize our inventory of products, or force us to recall any product already in the market if we fail to comply with governmental regulations.

 

Many competitive products exist and more will be developed, and we may not be able to successfully compete because we are smaller and have fewer financial resources.

 

Our business is in a very competitive and evolving field.  Rapid new developments in this field have occurred over the past few years, and are expected to continue to occur.  Other companies already have competing products available or about to be available or may develop products to compete with ours. Many of these products may have short regulatory timeframes and our competitors, many with more substantial development resources, may be able to develop competing products that are equal to or better than ours.  This may make our products obsolete or undesirable by comparison and reduce our revenue.  Our success will depend, in large part, on our ability to maintain a competitive position concerning our intellectual property, and to develop new technologies and new applications for our technologies.  Many of our competitors have substantially greater financial and technical resources, as well as greater production and marketing capabilities, and our ability to compete remains uncertain.

 

The medical community and the general public may perceive synthetic materials and growth factors as safer, which could have a material adverse effect on our business.

 

Members of the medical community and the general public may perceive synthetic materials and growth factors as safer than our allograft-based bone tissue products. Our products may be incapable of competing successfully with synthetic bone graft substitutes and growth factors developed and commercialized by others, which could have a material adverse effect on our business, financial condition and results of operations.

 

11
 

 

Negative publicity concerning methods of human tissue recovery and screening of donor tissue in the industry in which we operate may reduce demand for our allografts and impact the supply of available donor tissue.

 

Media reports or other negative publicity concerning both improper methods of tissue recovery from donors and disease transmission from donated tissue may limit widespread acceptance of our allografts.  Unfavorable reports of improper or illegal tissue recovery practices, both in the United States and internationally, as well as incidents of improperly processed tissue leading to transmission of disease, may broadly affect the rate of future tissue donation and market acceptance of allograft technologies.  Potential patients may not be able to distinguish our allografts, technologies and the tissue recovery and the processing procedures from those of our competitors or others engaged in tissue recovery.  In addition, families of potential donors may become reluctant to agree to donate tissue to for-profit tissue processors. 

 

We are highly dependent on the availability of human donors; any disruptions could cause our customers to seek alternative providers or technologies.

 

We are highly dependent on our ability to obtain donor cadavers as the raw material for many of our products.  The availability of acceptable donors is relatively limited and we compete with many other companies for this limited availability.  The availability of donors is also impacted by regulatory changes, general public opinion of the donor process and our reputation for our handling of the donor process.  In addition, due to seasonal changes in the mortality rates, some scarce tissues are at times in short supply.  Any disruption in the supply of this crucial raw material could have significant consequences for our revenue, operating results and continued operations. 

 

We will need to continue to innovate and develop new products to be desirable to our customers.

 

The markets for our products and services are characterized by rapid technological change, frequent new introductions, changes in customers’ demands and evolving industry standards.  Accordingly, we will need to continue to innovate and develop additional products.  These efforts can be costly, subject to long development and regulatory delays and may not result in products approved for sale.  These costs may hurt operating results and may require additional capital.  If additional capital is not available, we may be forced to curtail development activities.  In addition, any failure on our behalf to react to changing market conditions could create an opportunity for other market participants to capture a critical share of the market within a short period of time.

 

Our success will depend on our ability to engage and retain qualified technical personnel who are difficult to attract.

 

Our success will depend on our ability to attract and retain qualified technical personnel to assist in research and development, testing, product implementation, low-scale production and technical support.  Competition for qualified technical personnel is intense, and we may encounter difficulty in engaging and retaining qualified personnel needed to implement our growth plan. The demand for such personnel is high and the supply of qualified technical personnel is limited.  A significant increase in the wages paid by competing employers could result in a reduction of our technical work force and increases in the wage rates that we must pay or both.  If either of these events were to occur, our cost structure could increase and our growth potential could be impaired.

 

Loss of key members of our management who we need to succeed could adversely affect our business.

 

We are highly dependent on the services of Guy Cook, our President and Chief Executive Officer, and other key members of our management team and the loss of his or any of their services could have an adverse effect on our future operations.  We do not currently maintain a key-man life insurance policy insuring the life of Mr. Cook or any other member of our management team.

 

We are highly dependent on the continued availability of our facilities and would be harmed if they were unavailable for any prolonged period of time.

 

Any failure in the physical infrastructure of our facilities or services could lead to significant costs and disruptions that could reduce our revenues and harm our business reputation and financial results.  We are highly reliant on our Belgrade, Montana facilities.  Any natural or man-made event that impacts our ability to utilize these facilities could have a significant impact on our operating results, reputation and ability to continue operations.  The regulatory process for approval of facilities is time-consuming and our ability to rebuild facilities would take a considerable amount of time and expense and cause a significant disruption in service to our customers.  Further, the FDA or some other regulatory agency could identify deficiencies in future inspections of our facilities or our supplies that could disrupt our business, reducing profitability.  We carry business interruption insurance of up to $1 million per location to help in these instances, but it may not cover all costs or our standing in the market.

 

We will be required to invest in facilities and equipment on a continuing basis, which will put pressure on us to finance these investments.

 

We have invested, and intend to continue to invest, in facilities and state-of-the-art equipment in order to increase, expand or update our capabilities and facilities.  Changes in technology or sales growth beyond currently established production capabilities, which we anticipate, will require further investment. We currently anticipate that we will need to spend between $4 and $5 million over the next five years in order to increase, expand or update our existing facilities to meet our expected growth over that period. However, there can be no assurance that we will generate sufficient funds from operations to maintain our existing facilities and equipment or to finance any required capital investments or that other sources of funding will be available. Additionally, there can be no guarantee that any future expansion will not negatively affect earnings.

 

12
 

 

Future revenue will depend on our ability to increase sales.

 

We currently sell our products through direct sales by our employees and indirectly through distributor relationships.  We incurred increased sales and marketing expenses in building and expanding our direct sales force, and there can be no assurance that we will generate increased sales as a result of this effort. 

 

There may be fluctuations in our operating results, which will impact our stock price.

 

Significant annual and quarterly fluctuations in our results of operations may be caused by, among other factors, our volume of revenues, the timing of new product or service announcements, releases by us and our competitors in the marketplace of new products or services, and general economic conditions.  There can be no assurance that the level of revenues and profits, if any, achieved by us in any particular fiscal period will not be significantly lower than in other comparable fiscal periods.  Our expense levels are based, in part, on our expectations as to future revenues.  As a result, if future revenues are below expectations, net income or loss may be disproportionately affected by a reduction in revenues, as any corresponding reduction in expenses may not be proportionate to the reduction in revenues.

 

We are dependent on the ability of our licensees and development partners for obtaining regulatory approvals and market acceptance of their products, for which we may have no control.

 

Our success will depend on our ability, or that of our licensees, to obtain timely regulatory approval for products employing our technology.  Moreover, our success will also depend on whether, and how quickly, our licensees gain market acceptance of products incorporating our technology, compared to competitors using competing technologies.

 

Our revenues will depend upon prompt and adequate reimbursement from public and private insurers and national health systems.

 

Political, economic and regulatory influences are subjecting the healthcare industry in the United States to fundamental change.  The ability of hospitals to pay fees for allograft bone tissue products depends in part on the extent to which reimbursement for the costs of such materials and related treatments will continue to be available from governmental health administration authorities, private health coverage insurers and other organizations.  We may have difficulty gaining market acceptance for our products if government and third-party payors do not provide adequate coverage and reimbursement to hospitals.  Major third-party payors of hospital services and hospital outpatient services, including Medicare, Medicaid and private healthcare insurers, annually revise their payment methodologies, which can result in stricter standards for reimbursement of hospital charges for certain medical procedures or the elimination of reimbursement.  Further, Medicare, Medicaid and private healthcare insurer cutbacks could create downward price pressure on our products.

 

Our operating results will be harmed if we are unable to effectively manage and sustain our future growth.

 

We might not be able to manage our future growth efficiently or profitably.  Our business is unproven on a large scale and actual revenue and operating margins, or revenue and margin growth, may be less than expected.  If we are unable to scale our production capabilities efficiently, we may fail to achieve expected operating margins, which would have a material and adverse effect on our operating results.  Growth may also stress our ability to adequately manage our operations, quality of products, safety and regulatory compliance.  If growth significantly decreases our reserves, we may be required to obtain additional financing, which may increase our indebtedness or result in dilution to our stockholders.  Further, there can be no assurance that we would be able to obtain any additional financing.

 

Future business combinations or acquisitions may be difficult to integrate and cause our attention to be diverted.

 

We may pursue various business combinations with other companies or strategic acquisitions of complementary businesses, product lines or technologies.  There can be no assurance that such acquisitions will be available at all, or on terms acceptable to us.  These transactions may require additional financing which may increase our indebtedness or outstanding shares, resulting in dilution to stockholders.  The inability to obtain such future financing may inhibit our growth and operating results. Integration of acquisitions or additional products can be time consuming, difficult and expensive and may significantly impact operating results.  Furthermore, the integration of any acquisition may divert management’s time and resources from our core business.  We may sell some or all of our product lines to other companies or may agree to combine with another company.  Selling some of our product lines may inhibit our ability to generate positive operating results going forward. 

 

We may be subject to future product liability litigation that could be expensive and our insurance coverage may not be adequate in a catastrophic situation.

 

Although we are not currently subject to any product liability proceedings, and we have no reserves for product liability disbursements, we may incur material liabilities relating to product liability claims in the future, including product liability claims arising out of the usage of our products.  We currently carry product liability insurance, however, our insurance coverage and any reserves we may maintain in the future for product related liabilities may not be adequate and our business could suffer material adverse consequences.

 

13
 

 

We may implement a product recall or voluntary market withdrawal due to product defects or product enhancements and modifications, which would significantly increase our costs.

 

The manufacturing and marketing of our biologic products, medical devices and coating technologies involves an inherent risk that our products may prove to be defective.  In that event, we may voluntarily implement a recall or market withdrawal or may be required to do so by a regulatory authority.  A recall or withdrawal of one of our products, or a similar product manufactured by another manufacturer, could impair sales of the products we market as a result of confusion concerning the scope of the recall or withdrawal, or as a result of the damage to our reputation for quality and safety.

  

U.S. governmental regulation could restrict the use of our products or our procurement of tissue.

 

In the United States, the procurement and transplantation of allograft bone tissue is subject to federal law pursuant to the National Organ Transplant Act, or NOTA, a criminal statute which prohibits the purchase and sale of human organs used in human transplantation, including bone and related tissue, for “valuable consideration.” NOTA permits reasonable payments associated with the removal, transportation, processing, preservation, quality control, implantation and storage of human bone tissue. We provide services in all of these areas in the United States, with the exception of removal and implantation, and receive payments for all such services. We make payments to certain of our clients and tissue banks for their services related to recovering allograft bone tissue on our behalf. If NOTA is interpreted or enforced in a manner which prevents us from receiving payment for services we render or which prevents us from paying tissue banks or certain of our clients for the services they render for us, our business could be materially and adversely affected. 

 

We are engaged through our marketing employees, independent sales agents and sales representatives in ongoing efforts designed to educate the medical community as to the benefits of our products, and we intend to continue our educational activities. Although we believe that NOTA permits payments in connection with these educational efforts as reasonable payments associated with the processing, transportation and implantation of our products, payments in connection with such education efforts are not exempt from NOTA’s restrictions and our inability to make such payments in connection with our education efforts may prevent us from paying our sales representatives for their education efforts and could adversely affect our business and prospects. No federal agency or court has determined whether NOTA is, or will be, applicable to every allograft bone tissue-based material which our processing technologies may generate. Assuming that NOTA applies to our processing of allograft bone tissue, we believe that we comply with NOTA, but there can be no assurance that more restrictive interpretations of, or amendments to, NOTA will not be adopted in the future which would call into question one or more aspects of our method of operations.

 

Our business is subject to continuing regulatory compliance by the FDA and other authorities which is costly and could result in delays in the commercialization of our products.

 

As a manufacturer and marketer of medical devices, we are subject to extensive regulation by the FDA and the Center for Medicare Services of the U.S. Department of Health and Human Services and other federal governmental agencies and, in some jurisdictions, by state and foreign governmental authorities. These regulations govern the introduction of new medical devices, the observance of certain standards with respect to the design, manufacture, testing, labeling, promotion and sales of the devices, the maintenance of certain records, the ability to track devices, the reporting of potential product defects, the import and export of devices and other matters.  We are facing an increasing amount of scrutiny and compliance costs as more states are implementing regulations governing medical devices, pharmaceuticals and/or biologics which affect many of our products.

 

Medical devices that incorporate coatings technology are subject to FDA regulation and compliance.  Generally, any medical device manufacturer that wishes to incorporate our coatings technology into its products will be responsible for obtaining FDA approval for the medical devices it intends to market though we will assist in the 510(k) filing submitted by licensees.  The FDA process can take several months to several years in the United States.  The time required to obtain approval for international sales may be longer or shorter, depending on the laws of the particular country.  There can be no assurance that our licensees will be able to obtain FDA or international approval on a timely basis.  The FDA may also require the more extensive Premarket Approval Application, or PMA, process for certain products, which results, in effect, in a private license being granted to the applicant for marketing a particular medical device and requires an additional level of FDA scientific review to ensure the safety and effectiveness of such devices.  Approval or clearance may place substantial restrictions on the indications for which the product may be marketed or to whom it may be marketed, warnings that may be required to accompany the product or additional restrictions placed on the sale and/or use of the product.  Changes in regulations or adoption of new regulations could also cause delays in obtaining product approval.  In addition, regulatory approval is subject to continuing compliance with regulatory standards, and product approval is subject to withdrawal if a licensee fails to comply with standards, or if an unforeseen event should occur concerning a product.  Significant delays in obtaining product approval could have a significantly detrimental impact on our business.

 

Human tissues intended for transplantation have been regulated by the FDA since 1993. In May 2005, three new comprehensive regulations went into effect that address manufacturing activities associated with human cells, tissues and cellular and tissue-based products, or HCT/Ps. The first requires that companies that produce and distribute HCT/Ps register with the FDA. The second provides criteria that must be met for donors to be eligible to donate tissues and is referred to as the “Donor Eligibility” rule. The third rule governs the processing and distribution of the tissues and is often referred to as the “Current Good Tissue Practices” rule.  The “Current Good Tissue Practices” rule covers all stages of allograft processing, from procurement of tissue to distribution of final allografts.  Together they are designed to ensure that sound, high quality practices are followed to reduce the risk of tissue contamination and of communicable disease transmission to recipients.  These regulations increased regulatory scrutiny within the industry in which we operate and have lead to increased enforcement action which affects the conduct of our business. In addition, these regulations can increase the cost of tissue recovery activities.

 

14
 

 

Other regulatory entities include state agencies with statutes covering tissue banking.  Regulations issued by Florida, New York, California and Maryland will be particularly relevant to our business.  Most states do not currently have tissue banking regulations.  However, recent incidents of allograft related infections in the industry may stimulate the development of regulation in other states.  It is possible that others may make allegations against us or against donor recovery groups or tissue banks about non-compliance with applicable FDA regulations or other relevant statutes or regulations.  Allegations like these could cause regulators or other authorities to take investigative or other action, or could cause negative publicity for our business and the industry in which we operate.

 

Our products may be subject to regulation in the EU as well should we enter that market.  In the European Union, or EU, regulations, if applicable, differ from one EU member state to the next.  Because of the absence of a harmonized regulatory framework and the proposed regulation for advanced therapy medicinal products in the EU, as well as for other countries, the approval process for human derived cell or tissue based medical products may be extensive, lengthy, expensive and unpredictable.  Some of our products may be subject to European Union member states’ regulations that govern the donation, procurement, testing, coding, traceability, processing, preservation, storage, and distribution of human tissues and cells and cellular or tissue-based products.  Some EU member states have their own tissue banking regulations.

 

Clinical trials can be long, expensive and ultimately uncertain which could jeopardize our ability to obtain regulatory approval and market our products.

 

Clinical trials are required to develop products, gain market acceptance and obtain 510(k) certifications from the FDA.  These trials often take several years to execute and are subject to factors within and outside of our control. The outcome of any trial is uncertain and may have a significant impact on the success of our current and future products and future profits.

 

The commencement or completion of any clinical trial may be delayed or halted for numerous reasons, including, but not limited to, a regulatory body placing clinical trials on hold, patients not enrolling in clinical trials at the rate we expect, patients experiencing adverse side effects, third party contractors failing to perform in accordance with our anticipated schedule or consistent with good clinical practices, inclusive or negative interim trial results or our inability to obtain sufficient quantities of raw materials to produce our products.  Our development costs may increase if we have material delays in clinical trials or if we need to perform more or larger clinical trials than planned.  If this occurs, our financial results and the commercial prospects for our products may be harmed.

 

Product pricing (and, therefore, profitability) is subject to regulatory control which could impact our revenue and financial performance.

 

The pricing and profitability of our products may become subject to control by the government and other third-party payors.  The continuing efforts of governmental and other third-party payors to contain or reduce the cost of healthcare through various means may adversely affect our ability to successfully commercialize our products.  In most foreign markets, the pricing and/or profitability of certain diagnostics and prescription pharmaceuticals are subject to governmental control.  In the United States, we expect that there will continue to be federal and state proposals to implement similar governmental control though it is unclear which proposals will ultimately become law, if any.  Changes in prices, including any mandated pricing, could impact our revenue and financial performance.

 

Failure to protect our intellectual property rights could result in costly and time consuming litigation and our loss of any potential competitive advantage.

 

Our success will depend, to a large extent, on our ability to successfully obtain and maintain patents, prevent misappropriation or infringement of intellectual property, maintain trade secret protection, and conduct operations without violating or infringing on the intellectual property rights of third parties.  There can be no assurance that our patented and patent-pending technologies will provide us with a competitive advantage, that we will be able to develop or acquire additional technology that is patentable, or that third parties will not develop and offer technologies which are similar to ours.  Moreover, we can provide no assurance that confidentiality agreements, trade secrecy agreements or similar agreements intended to protect unpatented technology will provide the intended protection.  Intellectual property litigation is extremely expensive and time-consuming, and it is often difficult, if not impossible, to predict the outcome of such litigation.  A failure by us to protect our intellectual property could have a materially adverse effect on our business and operating results and our ability to successfully compete in this industry.

 

We may not be able to obtain or protect our proprietary rights relating to our products without resorting to costly and time consuming litigation.

 

We may not be able to obtain, maintain and protect certain proprietary rights necessary for the development and commercialization of our products or product candidates. Our commercial success will depend in part on obtaining and maintaining patent protection on our products and successfully defending these patents against third-party challenges.  Our ability to commercialize our products will also depend in part on the patent positions of third parties, including those of our competitors.  The patent positions of pharmaceutical and biotechnology companies can be highly uncertain and involve complex legal and factual questions.  Accordingly, we cannot predict with certainty the scope and breadth of patent claims that may be afforded to other companies’ patents.  We could incur substantial costs in litigation if we are required to defend against patent suits brought by third parties, or if we initiate suits to protect our patent rights.

 

15
 

 

In addition to the risks involved with patent protection, we also face the risk that our competitors will infringe on our trademarks.  Any infringement could lead to a likelihood of confusion and could result in lost sales.

 

There can be no assurance that we will prevail in any claims we make to protect our intellectual property.

 

Future protection for our proprietary rights is uncertain which may impact our ability to successfully compete in our industry.

 

The degree of future protection for our proprietary rights is uncertain. We cannot ensure that:

 

¨we were the first to make the inventions covered by each of our patent applications;

 

¨we were the first to file patent applications for these inventions;

 

¨others will not independently develop similar or alternative technologies or duplicate any of our technologies;

 

¨any of our pending patent applications will result in issued patents;

 

¨any of our issued patents or those of our licensors will be valid and enforceable;

 

¨any patents issued to us or our collaborators will provide a basis for commercially viable products or will provide us with any competitive advantages or will not be challenged by third parties;

 

¨we will develop additional proprietary technologies that are patentable;

 

¨the patents of others will not have a material adverse effect on our business rights; or

 

¨the measures we rely on to protect the intellectual property underlying our products may not be adequate to prevent third parties from using our technology, all of which could harm our ability to compete in the market.

 

Our success depends on our ability to avoid infringing on the intellectual property rights of third parties which could expose us to litigation or commercially unfavorable licensing arrangements.

 

Our commercial success depends in part on our ability and the ability of our collaborators to avoid infringing patents and proprietary rights of third parties.  Third parties may accuse us or our collaborators of employing their proprietary technology in our products, or in the materials or processes used to research or develop our products, without authorization.  Any legal action against our collaborators or us claiming damages and/or seeking to stop our commercial activities relating to the affected products, materials and processes could, in addition to subjecting us to potential liability for damages, require our collaborators or us to obtain a license to continue to utilize the affected materials or processes or to manufacture or market the affected products.  We cannot predict whether we or our collaborators would prevail in any of these actions or whether any license required under any of these patents would be made available on commercially reasonable terms, if at all.  If we are unable to obtain such a license, we or our collaborators may be unable to continue to utilize the affected materials or processes or manufacture or market the affected products or we may be obligated by a court to pay substantial royalties and/or other damages to the patent holder.  Even if we are able to obtain such a license, the terms of such a license could substantially reduce the commercial value of the affected product or products and impair our prospects for profitability.  Accordingly, we cannot predict whether or to what extent the commercial value of the affected product or products or our prospects for profitability may be harmed as a result of any of the liabilities discussed above.  Furthermore, infringement and other intellectual property claims, with or without merit, can be expensive and time-consuming to litigate and can divert management’s attention from our core business.  We may be unable to obtain and enforce intellectual property rights to adequately protect our products and related intellectual property.

 

Others may claim an ownership interest in our intellectual property which could expose us to litigation and have a significant adverse effect on our prospects.

 

A third-party may claim an ownership interest in our intellectual property.  While we believe we own 100% of the right, title and interest in the patents for which we have applied and our other intellectual property, including that which we license from third parties, we cannot guarantee that a third-party will not, at some time, assert a claim or an interest in any of such patents or intellectual property.  A successful challenge or claim by a third party to our patents or intellectual property could have a significant adverse effect on our prospects.

 

16
 

 

The result of litigation may result in financial loss and/or impact our ability to sell our products going forward.

 

We intend to vigorously defend any future intellectual property litigation that may arise but there can be no assurance that we will prevail in these matters.  An unfavorable judgment may result in a financial burden on us.  An unfavorable judgment may also result in restrictions on our ability to sell certain products and therefore may impact future operating results.

 

We have found material weaknesses in our system of internal controls over financial reporting that have not been fully remediated as of December 31, 2012, which could adversely affect our ability to record, process, summarize and report certain financial data.

 

In connection with the evaluation of the effectiveness of our internal controls over financial reporting as of December 31, 2012, management discovered the following deficiencies: (i) insufficient number of personnel with the appropriate level of experience and technical expertise to appropriately resolve account reconciliations, while completing the financial statement close process; and (ii) the documentation surrounding equity transactions for employees and consultants needs to be strengthened to comply with procedures outlined by the Company to ensure that all equity transactions are properly recorded in the appropriate periods.  In light of these material weaknesses, management has concluded that we did not maintain effective internal control over our disclosure controls and procedures as of December 31, 2012, which constituted a material weakness in our internal controls over financial reporting because they resulted in a reasonable possibility that a material misstatement could occur in our annual or interim financial statements which could not be prevented or detected.  Although we are working to remediate these deficiencies as outlined in Item 9A of this Annual Report on Form 10-K, there can be no assurance that our remediation efforts will resolve all of our internal control deficiencies or that we will not discover additional material weaknesses or significant deficiencies as we evaluate and test such controls in the future. Such material weaknesses or deficiencies could adversely affect our ability to record, process, summarize and report our financial information, which could cause current and potential stockholders to lose confidence in our financial reporting which could have a negative effect on the trading price of our common stock.

 

Because we became public through a reverse merger, we may not be able to attract the attention of major brokerage firms.

 

There are coverage risks associated with our becoming public through a reverse merger, including, among other things, security analysts of major brokerage firms may not provide coverage of us since there is no incentive to brokerage firms to recommend the purchase of our common stock.  We cannot assure you that brokerage firms will want to conduct any public offerings on our behalf in the future.

 

The market price of our common stock may be volatile and may decline in value.

 

The market price of our common stock has been and will likely continue to be highly volatile, as is the stock market in general.  Some of the factors that may materially affect the market price of our common stock are beyond our control, such as changes in financial estimates by industry and securities analysts, conditions or trends in the industry in which we operate or sales of our common stock.  These factors may materially adversely affect the market price of our common stock, regardless of our performance. In addition, the public stock markets have experienced extreme price and trading volume volatility.  This volatility has significantly affected the market prices of securities of many companies for reasons frequently unrelated to the operating performance of the specific companies.  These broad market fluctuations may adversely affect the market price of our common stock.

 

We may not continue to satisfy the continued listing requirements of the NYSE MKT exchange.

 

We are currently listed on the NYSE MKT exchange, which imposes both objective and subjective requirements for continued listing.  Continued listing criteria include the financial condition of the company, market capitalization, total assets, annual revenue, and low selling price.  Our common stock is currently trading at less than $1.00 per share, we are operating at a loss, and our market capitalization, total assets and annual revenue are all currently less than $50 million, so our continued listing is at risk.  If the NYSE MKT determines that we fail to satisfy the requirements for continued listing, we could be de-listed from the exchange, which could result in reduced liquidity for our shareholders.  There can be no assurance that we will satisfy the continued listing requirements of the NYSE MKT or that we will continue to be listed on any exchange.

 

Our stockholders may experience significant dilution if future equity offerings are used to fund operations or acquire complementary businesses.

 

If our future operations or acquisitions are financed through the issuance of equity securities, our stockholders could experience significant dilution. In addition, securities issued in connection with future financing activities or potential acquisitions may have rights and preferences senior to the rights and preferences of our common stock. We also have established an equity incentive plan for our management and employees. We expect to grant options to purchase shares of our common stock to our directors, employees and consultants and we will grant additional options in the future. The issuance of shares of our common stock upon the exercise of these options may result in dilution to our stockholders.

 

Our current management can exert significant influence over us and make decisions that are not in the best interests of all stockholders.

 

Our executive officers and directors beneficially own as a group approximately 35% of our outstanding shares of common stock.  As a result, these stockholders will be able to assert significant influence over all matters requiring stockholder approval, including the election and removal of directors and any change in control.  In particular, this concentration of ownership of our outstanding shares of common stock could have the effect of delaying or preventing a change in control, or otherwise discouraging or preventing a potential acquirer from attempting to obtain control.  This, in turn, could have a negative effect on the market price of our common stock.  It could also prevent our stockholders from realizing a premium over the market prices for their shares of common stock.  Moreover, the interests of the owners of this concentration of ownership may not always coincide with our interests or the interests of other stockholders and, accordingly, could cause us to enter into transactions or agreements that we would not otherwise consider.

 

17
 

 

We do not anticipate paying dividends in the foreseeable future; you should not buy our stock if you expect dividends.

 

We currently intend to retain our future earnings to support operations and to finance expansion and, therefore, we do not anticipate paying any cash dividends on our common stock in the foreseeable future.

 

We could issue “blank check” preferred stock without stockholder approval with the effect of diluting then current stockholder interests and impairing their voting rights, and provisions in our charter documents and under Delaware law could discourage a takeover that stockholders may consider favorable.

 

Our certificate of incorporation provides for the authorization to issue up to 5,000,000 shares of “blank check” preferred stock with designations, rights and preferences as may be determined from time to time by our board of directors.  Our board of directors is empowered, without stockholder approval, to issue one or more series of preferred stock with dividend, liquidation, conversion, voting or other rights which could dilute the interest of, or impair the voting power of, our common stockholders.  The issuance of a series of preferred stock could be used as a method of discouraging, delaying or preventing a change in control.  For example, it would be possible for our board of directors to issue preferred stock with voting or other rights or preferences that could impede the success of any attempt to change control of our company.  In addition, we have a staggered board of directors and advanced notice is required prior to stockholder proposals, which might further delay a change of control.

 

Item 1B. Unresolved Staff Comments

 

Not applicable

 

Item 2. Properties

 

We lease approximately 16,000 square feet in a building located at 600 Cruiser Lane, Belgrade, Montana 59714.  This space includes six Class 100 (ISO 5) clean rooms, a fully equipped diagnostics laboratory, microbiology laboratory and testing laboratory.  In addition, eight new clean rooms are under construction. We lease the building under a ten-year operating lease which runs through August 2013 and has a monthly lease payment of $10,000.  The lease also has a ten-year renewal option which we recently exercised.

 

In November 2007, we purchased a 14,000 square foot facility at 664 Cruiser Lane, Belgrade, Montana 59714.  This building is an FDA registered facility with a Class 10,000 (ISO 7) environmentally controlled area and currently houses our medical device coatings operations.  The validated manufacturing areas and laboratory facilities located in this facility provide processing and testing space to manufacture medical devices pursuant to FDA, GMP regulations, and ISO 13485:2003.  We expect this facility to meet all of our regulatory requirements for the manufacture of future Bacterin-label medical device products, including our surgical drains (ViaTM and Elutia®), as well as production requirements for coated medical devices from our medical device partners.  The facility is registered with the FDA for device design, device manufacture, and contract manufacture, as well as for screening, testing, storing, and distributing biological tissues.

 

We also lease space at 732 Cruiser Lane, Belgrade, Montana 59714, where one Class 1,000 (ISO 6) clean room is under construction, and we lease office space in Englewood, Colorado, where certain of our administrative functions are housed.

 

Item 3. Legal Proceedings

 

On April 4, 2012, Bacterin International, Inc. filed suit against SeaArk Capital, LLC and its principal, Mark Bartosh, seeking recovery of $1,648,993.58 for product delivered to SeaArk in 2011. The case is pending in the United States District Court of the Eastern District of Pennsylvania and the parties are engaged in settlement negotiations. In connection with this litigation, Bacterin also filed a motion for a prejudgment writ of replevin or attachment in the Third Judicial District Court in the State of Utah to recover product previously sold to SeaArk. The Utah case was removed to the United States District Court for the District of Utah and Bacterin’s motion for prejudgment writ was granted. SeaArk has returned all Bacterin products previously stored in Utah.

 

On April 19, 2012, Bacterin International, Inc. filed a lawsuit in federal court in Dallas, Texas, seeking injunctive relief and damages against Shantal Howell, a former regional vice president of the company.  The suit arises out of the former employee’s breach of contract, breach of fiduciary duties, interference with Bacterin’s business relationships, and misappropriation of Bacterin’s trade secrets. On June 8, 2012, Howell asserted a counterclaim against Bacterin for breach of contract and defamation, seeking damages for allegedly owed commissions and loss of business. The parties entered into a settlement agreement in January of 2013 whereby Ms. Howell agreed to pay Bacterin $15,000, and Ms. Howell also agreed not to compete with Bacterin or solicit customers of Bacterin for one year.

 

On January 29, 2013, we received two warning letters from the Food and Drug Administration (“FDA”) related to our procedures to ensure compliance with regulatory requirements. The concerns included (i) procedures for implementing corrective and preventative action; (ii) procedures for receiving, reviewing and evaluating complaints; (iii) procedures related to changes to a specification, method, process or procedure; (iv) procedures to ensure that purchased or otherwise received products or services conform to specified requirements; (v) procedures to control documents; (vi) procedures to identify training needs and to ensure all personnel are trained to adequately perform assigned responsibilities; (vii) procedures related to medical device reporting; (viii) procedures to control product that does not conform to specified requirements; (ix) procedures for finished device acceptance; and (x) marketing materials related to our Elutia wound drain. The company has responded to the warning letters and is committed to actively working with the FDA to address their concerns.

 

18
 

 

 

On February 11, 2013, we received a subpoena from the Office of the Inspector General of the U.S. Department of Health and Human Services (“OIG”) in connection with an investigation into possible false or otherwise improper claims submitted to Medicare. The subpoena requests documents related to physician referral programs operated by the Company, which we believe refers to the Company’s prior practice of compensating physicians for performing certain educational and promotional services on behalf of the Company. This program was discontinued in 2010 and involved payments to only a small number of physicians that we believe were made in accordance with all applicable laws. We intend to cooperate with the OIG’s investigation.

 

Item 4. Mine Safety Disclosures

 

Not Applicable.

 

PART II

 

Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

 

Market Information

 

From July 1, 2010 to March 4, 2011, our common stock was traded on the OTC Bulletin Board under the symbol BIHI.OB.  Beginning on March 7, 2011, our common stock began trading on the NYSE MKT under the symbol BONE.  The following table sets forth the range of the high and low prices for our common stock for each quarter, as reported by the OTC Bulletin Board from January 1, 2011 through March 4, 2011 and by the NYSE MKT from March 7, 2011 through December 31, 2012.

 

   High   Low 
         
First  Quarter 2011 (January 1, 2011 – March 31, 2011)  $9.00   $3.00 
Second Quarter 2011 (April 1, 2011 – June 30, 2011)  $4.90   $2.60 
Third Quarter 2011 (July 1, 2011 – September 30, 2011)  $3.15   $1.61 
Fourth Quarter 2011 (October 1, 2011 – December 31, 2011)  $3.93   $1.76 
First  Quarter 2012 (January 1, 2012 – March 31, 2012)  $3.54   $2.08 
Second Quarter 2012 (April 1, 2012 – June 30, 2012)  $2.61   $1.10 
Third Quarter 2012 (July 1, 2012 – September 30, 2012)  $2.00   $1.28 
Fourth Quarter 2012 (October 1, 2012 – December 31, 2012)  $1.61   $.94 

 

Holders of Record

 

As of March 5, 2013, we had 234 holders of record.

 

Dividends

 

We have not paid any cash dividends and do not expect to do so in the foreseeable future.

 

Securities authorized for issuance under equity compensation plans

  

Plan category  Number of
securities to
be issued
upon exercise
of outstanding
options,
warrants and
rights		   Weighted-
average
exercise price
of outstanding
options,
warrants and
rights		   Number of
securities
remaining
available for
future issuance
under equity
compensation
plans
(excluding
securities
reflected in
column (a))		 
Equity compensation plans approved by security holders   5,266,535   $2.02    1,559,898(1)
Equity compensation plans not approved by security holders   N/A    $N/A    N/A 
Total       $      

  

(1) In addition to options outstanding, the Company also has 733,900 shares of restricted stock that have been issued under the Plan to consultants.

 

19
 

 

Bacterin International Equity Incentive Plan

 

All of our stock options were granted under the Amended and Restated Bacterin International Equity Incentive Plan.  The following is a summary of the material terms of that plan.

 

The purpose of the Bacterin International Equity Incentive Plan is to enable us to attract, retain and motivate key employees, directors and independent consultants, by providing them with stock options and restricted stock grants.  Stock options granted under the incentive compensation plan may be either incentive stock options to employees, as defined in Section 422A of the Internal Revenue Code of 1986, or non-qualified stock options.  The plan is administered by the compensation committee of our board of directors.  The administrator of the plan has the power to determine the terms of any stock options granted under the incentive plan, including the exercise price, the number of shares subject to the stock option and conditions of exercise.  Stock options granted under the incentive plan are generally not transferable, vest in installments and are exercisable during the lifetime of the optionee only by such optionee.  The exercise price of all incentive stock options granted under the incentive plan must be at least equal to the fair market value of the shares of common stock on the date of the grant.  The specific terms of each stock option grant will be reflected in a written stock option agreement.

 

There are 9,000,000 shares of our common stock authorized to be issued under the plan.  As of December 31, 2012, we had outstanding options to purchase 5,266,535 shares granted and 733,900 shares of restricted stock issued, to directors, executives, employees and consultants, leaving approximately 1,559,898 shares available for issuance thereunder. 

 

Recent Sales of Unregistered (and Registered) Securities

 

Not applicable.

 

Purchases of Equity Securities by the Issuer and Affiliated Purchasers

 

Not applicable.

 

Item 6 Selected Financial Data

 

Not required.

 

Item 7 Management’s Discussion and Analysis of Financial Condition and Results of Operation

 

Safe Harbor Declaration

 

The comments made throughout this Annual Report on Form 10-K should be read in conjunction with our Financial Statements and the Notes thereto, and other financial information appearing elsewhere in this document. In addition to historical information, the following discussion and other parts of this document contain certain forward-looking information. When used in this discussion, the words “believes,” “anticipates,” “expects,” “plan,” “possible,” “should,” “might,” “may” and similar expressions are intended to identify forward-looking statements. Such statements are subject to certain risks and uncertainties, which could cause actual results to differ materially from projected results, due to a number of factors beyond our control. We do not undertake to publicly update or revise any of our forward-looking statements, even if experience or future changes show that the indicated results or events will not be realized. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Readers are also urged to carefully review and consider our discussions regarding the various factors that affect our business, which are described in the section entitled “Risk Factors” in Item 1A of this Form 10-K.

 

20
 

 

Comparison of Twelve Months Ended December 31, 2012 and December 31, 2011

 

   Twelve Months Ended December 31, 
   2012   2011 
       % of       % of 
   Amount   Revenue   Amount   Revenue 
Revenue                    
Tissue sales  $32,414,026    98.28%  $29,657,423    98.37%
Royalties and other   565,873    1.72%   492,059    1.63%
Total Revenue   32,979,899    100.00%   30,149,482    100.00%
                     
Cost of tissue sales   10,337,303    31.34%   9,109,250    30.21%
                     
Gross Profit   22,642,596    68.66%   21,040,232    69.79%
                     
Operating Expenses                    
General and administrative   11,135,058    33.76%   6,935,101    23.00%
Sales and marketing   15,617,416    47.35%   18,501,204    61.36%
Depreciation and amortization   406,888    1.23%   379,387    1.26%
Non-cash consulting expense   427,787    1.30%   1,675,008    5.56%
Total Operating Expenses   27,587,149    83.65%   27,490,700    91.18%
                     
Loss from Operations   (4,944,553)   -14.99%   (6,450,468)   -21.39%
                     
Other Income (Expense)                    
Interest expense   (1,864,901)   -5.65%   (1,162,597)   -3.86%
Change in warrant derivative liability   1,360,160    4.12%   6,377,671    21.15%
Other expense   (2,264,528)   -6.87%   (1,771,075)   -5.87%
                     
Total Other Income (Expense)   (2,769,269)   -8.40%   3,443,999    11.42%
                     
Net Loss Before Benefit (Provision) for Income Taxes   (7,713,822)   -23.39%   (3,006,469)   -9.97%
                     
Benefit (Provision) for Income Taxes                    
Current   -    0.00%   -    0.00%
Deferred   -    0.00%   -    0.00%
                     
Net Income (Loss)   (7,713,822)   -23.39%   (3,006,469)   -9.97%

 

Revenue

 

Total revenue for the year ended December 31, 2012 increased 9% to $32,979,899 compared to $30,149,482 in the prior year. The increase of $2,830,417 was largely the result of increased sales generated from our direct sales force and independent distributors compared to 2012. Since 2009, we have been transitioning from a 100% distributor based sales model to a hybrid model which includes sales from our direct sales force as well as independent distributors which has increased the market penetration of our products.

 

21
 

 

Cost of tissue sales

 

Costs of tissue sales consist primarily of tissue and device manufacturing costs. Costs of tissue sales increased by 13% or $1,228,053 to $10,337,303 for the year ended December 31, 2012 from $9,109,250 for the year ended December 31, 2011. The increase was largely the result of increased costs associated with our higher sales. As a percentage of tissue sales, cost of tissue sales was 31.3% of revenues for 2012 compared to 30.2% in 2011. The slight increase is the result of increasing production capacity resulting in increased product costs in 2012.

 

Operating Expenses

 

Operating expenses include general and administrative expenses, selling and marketing expenses, depreciation, research and development expenses, and compensation costs, including incentive compensation.  Operating expenses increased 1%, or $96,449, for the year ended December 31, 2012 compared to the year ended December 31, 2011, primarily due to the reasons set forth below.

 

General and Administrative

 

General and administrative expenses consist principally of corporate personnel cash based and stock option compensation related costs and corporate expenses for legal, accounting and other professional fees as well as occupancy costs. General and administrative expenses increased 61%, or $4,199,957, to $11,135,058, for the year ended December 31, 2012 compared to 2011. The increase is primarily due to higher general and administrative expenses allocated to cost of tissue sales in 2011 compared to 2012. In addition, we incurred higher administrative costs supporting the higher revenue in addition to added rental and maintenance expense for increased operational space.

 

Selling and Marketing

 

Selling and marketing expenses primarily consist of costs for trade shows, sales conventions and meetings, travel expenses, advertising and other sales and marketing related costs. In addition, stock option compensation expense associated with our sales force is also included in sales and marketing expenses. Selling and marketing expenses decreased 16%, or $2,883,788, to $15,617,416 for the twelve months ended December 31, 2012 from $18,501,204 for the prior year. As a percentage of revenue, selling and marketing expenses decreased to 47% in 2012 from 61% in the prior year.  The decreases were primarily the result of more variable compensation paid to our direct sales force compared to fixed salaries earned in the comparable period of 2011 and a lower corporate sales commission structure for direct sales representatives and independent distributors.

 

Depreciation

 

Depreciation expense consists of depreciation of long-lived property and equipment. Depreciation expense increased 7% to $406,888 for the year ended December 31, 2012 from $379,387 in 2011. The increase reflects increased equipment purchases made in 2012 and a full year of depreciation in 2012 on the assets acquired in the second quarter of 2011 acquisition of Robinson MedSurg.

 

Non-cash Consulting Expense

 

Non-cash consulting expense consists of non-cash expense associated with granting restricted stock to consultants. Non-cash consulting expense decreased $1,247,221 to $427,787 for the year ended December 31, 2012 from $1,675,008 in the prior year, a decrease of 75%. The decrease is due to the lower closing price of the Company’s common stock at December 31, 2012 which was partially offset by more contracts in place in 2012.

 

Interest Expense

 

Interest expense is from our promissory notes and convertible debt instruments. Interest expense for 2012 increased $702,304 to $1,864,901 as compared to $1,162,597 in 2011. The increase was the result a higher average debt balance in 2012 and the higher interest rate related to the 2012 debt financing with ROS Acquisition Offshore LP.

 

Change in Warrant Derivative Liability

 

For 2012, the Company recorded a decrease in its non cash warrant derivative liability of $1,360,160 based upon the decrease in the closing price of the Company’s common stock at December 31, 2012 compared to December 31, 2011. The liability is associated with the issuance of warrants as part of the Company’s prior convertible debt financing, and the Company’s 2010 WTI financing which contain anti dilution adjustment provisions requiring the Company to record a change in the warrant derivative liability from period to period.

 

Write-off of Debt Related Expenses and Other Expense

 

For 2012, the Company recorded a non-cash charge of approximately $706,000 of debt discounts and loan origination fees written off in addition to approximately $944,000 of prepayment penalties related to the term financing with MidCap and Silicon Valley Bank that was prepaid in connection with the new 2012 term loan financing with ROS Acquisition Offshore LP. In addition, 2012 also included the amortization of the higher prepaid and loan origination fees from the 2012 ROS Acquisition Offshore LP financing as well as approximately $342,000 for warrants issued for services. Other non-operating expense in 2011 consisted of a non cash charge of approximately $1,300,000 of debt discounts written off in connection with the 2011 term loan financing with MidCap Financial and Silicon Valley Bank.

 

22
 

 

Liquidity and Capital Resources

 

Since our inception, we have historically financed our operations through operating cash flows, as well as the private placement of equity securities and convertible debt, an equity credit line and other debt transactions. In August 2012, we closed on a $20 million term loan transaction with ROS Acquisition Offshore LP. The proceeds were used to pay off the previous loans with MidCap Financial LLC and Silicon Valley Bank of approximately $9.3 million with the remainder adding to our working capital. At December 31, 2012, we had $12,080,131 of cash and cash equivalents and accounts receivables.

 

Net cash used in operating activities for 2012 was $10,792,332. This was primarily related to cash used to fund our operations as well as an increase in our inventory balance of $4,979,394. For 2011, net cash used in operating activities was $7,362,138.

 

Net cash used in investing activities for 2012 was $1,836,777 due to the purchase of property and equipment.

 

Net cash provided by financing activities was $16,804,064 for 2012 which was primarily due to the net proceeds of the new term loan with ROS Acquisition Offshore LP in addition to cash raised through the issuance of 1,475,037 shares of our common stock to Lincoln Park Capital for aggregate proceeds of approximately $3,899,996.

 

Off Balance Sheet Arrangements

 

We do not have any off balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity or capital expenditures or capital resources that are material to an investor in our shares.

 

Cash Requirements

 

We believe that our December 31, 2012 cash on hand and accounts receivable balance of $12,080,131 and anticipated cash receipts from sales expected from operations will be sufficient to meet our anticipated cash requirements through December 31, 2013. We incurred approximately $16 million in sales and marketing expenses in 2012 and expect to incur $18 million in 2013 based upon our sales estimates. The sales and marketing expenses are largely variable expenses and are anticipated to be funded from operating cash flow. An increase of these expenses may impact our operating results and there can be no assurance of their effectiveness. If we do not meet our revenue objectives over that period, we may need to sell additional equity securities, which could result in dilution to our stockholders, or seek additional loans. The incurrence of indebtedness would result in increased debt service obligations and could require us to agree to operating and financial covenants that would restrict our operations. Financing may not be available in amounts or on terms acceptable to us, if at all. Any failure by us to raise additional funds on terms favorable to us, or at all, could limit our ability to expand our business operations and could harm our overall business prospects.

 

In addition, we currently anticipate that we will need to spend between $4 and $5 million over the next 5 years in order to increase, expand or update our existing facilities to meet our expected growth over that period.

 

Item 7A Quantitative and Qualitative Disclosures About Market Risk

 

Not required.

 

Item 8 Financial Statements and Supplementary Data

 

23
 

 

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

 

To the Board of Directors and Stockholders

Bacterin International Holdings, Inc.

Belgrade, Montana

 

We have audited the accompanying consolidated balance sheet of Bacterin International Holdings, Inc. and subsidiary (the “Company”) as of December 31, 2012 and 2011and the related consolidated statements of operations, stockholders’ equity (deficit), and cash flows for the years then ended. These financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on these financial statements based on our audits.

 

We conducted our audits in accordance with standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audit included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

 

In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of Bacterin International Holdings, Inc. and subsidiary as of December 31, 2012 and 2011, and the results of their operations and their cash flows for the years then ended in conformity with accounting principles generally accepted in the United States of America.

 

/s/ EKS&H LLLP

 

March 27, 2013

Denver, Colorado

 

24
 

 

BACTERIN INTERNATIONAL HOLDINGS, INC.

Consolidated Balance Sheets as of December 31, 2012 and 2011

 

   As of 
   December 31, 
   2012   2011 
         
ASSETS          
Current Assets:          
Cash and cash equivalents  $4,926,066   $751,111 
Trade accounts receivable, net of allowance for doubtful accounts of $1,576,955 and $1,232,806, respectively   7,154,065    7,083,354 
Inventories, net   13,141,421    8,479,710 
Prepaid and other current assets   353,271    289,326 
Total current assets   25,574,823    16,603,501 
           
Non-current Assets:          
Non-current inventories   1,238,225    920,542 
Property and equipment, net   5,234,867    3,774,140 
Intangible assets, net   592,378    656,133 
Goodwill   728,618    728,618 
Other assets   1,126,643    486,914 
           
Total Assets  $34,495,554   $23,169,848 
           
LIABILITIES & STOCKHOLDERS' EQUITY          
Current Liabilities:          
Accounts payable  $3,997,789   $2,654,263 
Accounts payable - related party   418,922    513,193 
Accrued liabilities   2,400,090    3,762,211 
Warrant derivative liability   984,356    2,344,516 
Current portion of capital lease obligations   149,729    33,791 
Current portion of royalty liability   698,408    - 
Current portion of long-term debt   45,135    1,632,978 
Total current liabilities   8,694,429    10,940,952 
           
Long-term Liabilities:          
Capital lease obligation, less current portion   245,703    89,580 
Long term royalty liability, less current portion   6,839,935    - 
Long-term debt, less current portion   14,483,102    6,638,270 
Total Liabilities   30,263,169    17,668,802 
           
Commitments and Contingencies          
Stockholders' Equity:          
Preferred stock, $.000001 par value; 5,000,000 shares authorized; no shares issued and outstanding   -    - 
Common stock, $.000001 par value; 95,000,000 shares authorized; 42,877,770 shares issued and outstanding as of December 31, 2012 and 40,841,218 shares issued and outstanding as of December 31, 2011   43    40 
Additional paid-in capital   51,897,890    45,452,732 
Accumulated deficit   (47,665,548)   (39,951,726)
Total Stockholders’ Equity   4,232,385    5,501,046 
           
Total Liabilities & Stockholders’ Equity  $34,495,554   $23,169,848 

 

See notes to audited consolidated financial statements.

 

25
 

 

BACTERIN INTERNATIONAL HOLDINGS, INC.

Consolidated Statements of Operations

For the Years Ended December 31, 2012 and 2011

 

   Twelve Months Ended December 31, 
   2012   2011 
Revenue          
Tissue sales  $32,414,026   $29,657,423 
Royalties and other   565,873    492,059 
Total Revenue   32,979,899    30,149,482 
           
Cost of tissue and medical devices sales   10,337,303    9,109,250 
           
Gross Profit   22,642,596    21,040,232 
       
Operating Expenses          
General and administrative   11,135,058    6,935,101 
Sales and marketing   15,617,416    18,501,204 
Depreciation and amortization   406,888    379,387 
Non-cash consulting expense   427,787    1,675,008 
Total Operating Expenses   27,587,149    27,490,700 
           
Loss from Operations   (4,944,553)   (6,450,468)
           
Other Income (Expense)          
Interest expense   (1,864,901)   (1,162,597)
Change in warrant derivative liability   1,360,160    6,377,671 
Write-off of debt related costs    (705,885)   (1,300,000)
Other income (expense)   (1,558,643)   (471,075)
           
Total Other Income (Expense)   (2,769,269)   3,443,999 
           
Net Loss Before (Provision) Benefit for Income Taxes   (7,713,822)   (3,006,469)
           
(Provision) Benefit for Income Taxes          
Current   -    - 
Deferred   -    - 
           
Net Loss  $(7,713,822)  $(3,006,469)
           
Net loss per share:          
Basic  $(0.18)  $(0.08)
Dilutive  $(0.18)  $(0.08)
           
Shares used in the computation:          
Basic   42,445,386    38,944,256 
Dilutive   42,445,386    38,944,256 

 

See notes to audited consolidated financial statements.

 

26
 

 

BACTERIN INTERNATIONAL HOLDINGS, INC.

Consolidated Statements of Changes in Stockholders’ Equity (Deficit)

For the Years Ended December 31, 2012, and 2011

 

               Total 
   Common Stock   Additional   Retained   Shareholders' 
   Shares   Amount   Paid-In-Capital   Deficit   Equity (deficit) 
Balance at December 31, 2010   36,994,715    37    36,325,976    (36,945,257)   (619,244)
                          
Issuance of common stock, options and warrants:                         
Private placement   939,377    1    2,974,618    -    2,974,619 
Exercise of warrants   977,679    1    1,358,459    -    1,358,460 
Stock grants   230,499    -    548,261    -    548,261 
Stock-based compensation   538,500    -    2,007,467    -    2,007,467 
Exercise of options   775,833    1    1,010,563    -    1,010,564 
Debt discount - WTI   -    -    227,388    -    227,388 
Acquisition of RMS   384,615    -    1,000,000    -    1,000,000 
Net loss   -    -    -    (3,006,469)   (3,006,469)
Balance at December 31, 2011   40,841,218   $40   $45,452,732   $(39,951,726)  $5,501,046 
                          
Stock-based compensation   394,668    1    1,956,054    -    1,956,055 
Exercise of options   39,375    -    46,003    -    46,003 
Exercise of warrants   129,972    -    -    -    - 
Issuance of warrants   -    -    563,357    -    563,357 
Private placement   1,472,537   $2   $3,879,744    -    3,879,746 
Net loss   -    -    -    (7,713,822)   (7,713,822)
Balance at December 31, 2012   42,877,770   $43   $51,897,890   $(47,665,548)  $4,232,385 

 

See notes to audited consolidated financial statements.

 

27
 

 

BACTERIN INTERNATIONAL HOLDINGS, INC.

Consolidated Statements of Cash Flows

For the Years Ended December 31, 2012 and 2011

 

   Twelve Months Ended December 31, 
   2012   2011 
Operating activities:          
Net loss  $(7,713,822)  $(3,006,469)
Noncash adjustments:          
Depreciation and amortization   782,889    755,387 
Amortization of debt discount   502,044    302,465 
Write-off of debt discount   705,885    1,307,977 
Write-off of accounts receivable-related party   -    795,000 
Non-cash consulting expense/stock option expense   1,554,657    2,555,727 
Warrants issued for services   342,485    - 
Non-cash interest   196,823    - 
Provision for losses on accounts receivable and inventory   636,704    1,425,537 
Loss on disposal of assets   7,902    - 
Change in derivative warrant liability   (1,360,160)   (6,377,671)
Reduction of contingent liability   (358,426)   - 
Changes in operating assets and liabilities:          
Accounts receivable   (414,860)   (4,636,860)
Accounts receivable - related party   -    (181,966)
Inventories   (5,271,950)   (2,365,403)
Prepaid and other current assets   (1,049,458)   (190,550)
Accounts payable   1,249,255    334,183 
Accrued liabilities   (602,300)   1,920,505 
Net cash used in operating activities   (10,792,332)   (7,362,138)
           
Investing activities:          
Purchases of property and equipment   (1,825,614)   (962,306)
Notes receivable from stockholder   -    82,398 
Intangible asset additions   (11,163)   (137,411)
Net cash used in investing activities   (1,836,777)   (1,017,319)
           
Financing activities:          
Proceeds from the issuance of long-term debt   22,741,719    9,579,687 
Payments on long-term debt   (9,784,482)   (5,115,504)
Payments on capital leases   (78,925)   (36,182)
Proceeds from issuance of stock   3,879,749    2,974,618 
Proceeds from exercise of options   46,003    1,010,563 
Proceeds from exercise of warrants   -    389,905 
Net cash provided by financing activities   16,804,064    8,803,087 
           
Net change in cash and cash equivalents   4,174,955    423,630 
           
Cash and cash equivalents at beginning of period   751,111    327,481 
Cash and cash equivalents at end of period  $4,926,066   $751,111 

 

See notes to audited consolidated financial statements.

 

28
 

 

Notes to Consolidated Financial Statements

 

(1)           Business Description and Summary of Significant Accounting Policies

 

Business Description

 

The accompanying consolidated financial statements include the accounts of Bacterin International Holdings, Inc., a Delaware corporation, and its wholly owned subsidiary, Bacterin International, Inc., a Nevada corporation, (collectively, the “Company” or “Bacterin”). All intercompany balances and transactions have been eliminated in consolidation. Bacterin’s biologics division develops, manufactures and markets biologics products to domestic and international markets.  Bacterin’s proprietary methods are used in human allografts to create stem cell scaffolds and promote bone and other tissue growth.  These products are used in a variety of applications including enhancing fusion in spine surgery, relief of back pain with a facet joint stabilization, promotion of bone growth in foot and ankle surgery, promotion of skull healing following neurosurgery and regeneration in knee and other joint surgeries.

 

Bacterin’s device division develops bioactive coatings based upon proprietary knowledge of the phenotypical changes made by microbes as they sense and adapt to changes in their environment. Bacterin develops, employs, and licenses bioactive coatings for various medical device applications.  

 

An operating segment is a component of an enterprise whose operating results are regularly reviewed by the enterprise’s chief operating decision maker to make decisions about resources to be allocated to the segment and assess its performance. The primary performance measure used by management is net income or loss. The Company operates in two distinct lines of business consisting of the biologics and devices divisions. However, due to the immaterial revenue from devices to date, the Company reports as one segment.

 

The Company's revenue is derived principally from the sale or license of its medical products, coatings and device implants. The markets in which the Company competes are highly competitive and rapidly changing. Significant technological advances, changes in customer requirements, or the emergence of competitive products with new capabilities or technologies could adversely affect the Company's operating results. The Company's business could be harmed by a decline in demand for, or in the prices of, its products or as a result of, among other factors, any change in pricing or distribution model, increased price competition, changes in government regulations or a failure by the Company to keep up with technological change.  Further, a decline in available tissue donors could have an adverse impact on the business.

 

Presentation

 

Certain amounts in the 2011 consolidated financial statements have been reclassified to conform to the 2012 presentation.

 

Concentrations and Credit Risk

 

The Company’s accounts receivable are due from a variety of health care organizations and distributors throughout the world. Approximately 97% and 98% of sales were in the United States for 2012 and 2011, respectively. One customer accounted for approximately 5% and 6% of the Company’s revenue for 2012 and 2011, respectively.  One customer represented 22% and 21% of accounts receivable at December 31, 2012 and 2011, respectively. The Company provides for uncollectible amounts when specific credit issues arise. Management’s estimates for uncollectible amounts have been adequate during prior periods, and management believes that all significant credit risks have been identified at December 31, 2012.

 

Revenue by geographical region is as follows:

 

   Year ended
December 31,		 
   2012   2011 
United States  $31,947,757   $29,571,446 
Rest of World   1,032,142    578,036 
   $32,979,899   $30,149,482 

 

Use of Estimates

 

The preparation of the financial statements requires management of the Company to make a number of estimates and assumptions relating to the reported amount of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the period; the carrying amount of property and equipment and intangible assets; valuation allowances for trade receivables and deferred income tax assets; valuation of the warrant derivative liability; inventory reserve; contingent consideration from acquisitions; royalty liability; and estimates for the fair value of stock options grants and other equity awards upon which the Company determines stock-based compensation expense. Actual results could differ from those estimates.

 

29
 

 

Cash and Cash Equivalents

 

The Company considers all highly liquid investments purchased with an original maturity date of three months or less to be cash equivalents.  Cash equivalents are recorded at cost, which approximates market value. At times the Company maintains deposits in financial institutions in excess of federally insured limits.

 

Accounts Receivable

 

Accounts receivable represents amounts due from customers for which revenue has been recognized. Normal terms on trade accounts receivable are net 30 days and some customers are offered discounts for early pay.   The Company performs credit evaluations when considered necessary, but generally does not require collateral to extend credit.

 

The allowance for doubtful accounts is the Company's best estimate of the amount of probable credit losses in the Company's existing receivables. The Company determines the allowance based on factors such as historical collection experience, customer's current creditworthiness, customer concentration, age of accounts receivable balance, general economic conditions that may affect a customer's ability to pay and management judgment. Actual customer collections could differ from estimates. Account balances are charged to the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. Provisions to the allowance for doubtful accounts are charged to expense. The Company does not have any off-balance sheet credit exposure related to its customers.

 

Accounts Payable - Related Party

 

Accounts payable to a related party included amounts due to American Donor Services, a supplier of donors to the Company. See Note 15, “Related Party Transactions” below.

 

Inventories

Inventories are stated at the lower of cost or market.  Cost is determined using the specific identification method and includes materials, labor and overhead. The Company calculates an inventory reserve for estimated obsolescence or excess inventory based on historical usage and sales, as well as assumptions about future demand for its products. These estimates for excess and obsolete inventory are reviewed and updated on a quarterly basis. Increases in the inventory reserves result in a corresponding expense, which is generally recorded to cost of tissue and medical devices sales. Inventories where the sales cycle is estimated to be beyond twelve months are classified as Non-current inventories.

 

Property and Equipment

 

Property and equipment are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, generally three to seven years for computers and equipment, and 30 years for buildings. Leasehold improvements are depreciated over the shorter of their estimated useful life or the remaining term of the lease. Repairs and maintenance are expensed as incurred.

 

Goodwill

 

Goodwill represents the excess of costs over fair value of assets of businesses acquired. Goodwill and intangible assets acquired in a purchase business combination and determined to have indefinite useful lives are not amortized, instead are tested for impairment at least annually and whenever events or circumstances indicate the carrying amount of the asset may not be recoverable. In its evaluation of goodwill, the Company performs an assessment of qualitative factors to determine if it is more-likely-than-not that goodwill might be impaired and whether it is necessary to perform the two-step goodwill impairment. The Company conducts its annual impairment test on December 31 of each year. See Note 3, “Goodwill” below.

 

Derivative Instruments

 

The Company accounts for its derivative instruments in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 815 “Accounting for Derivative Instruments and Hedging Activities”. The only derivative instruments presented in the accompanying consolidated financial statements relates to warrants issued in connection with certain debt financings. The Company has not designated its warrant derivative liability as a hedging instrument as described in ASC 815 and any changes in the fair market value of the warrant derivative liability is recognized in the consolidated statement of operations during the period of change. See Note 10, “Warrants” below.

 

Intangible Assets

 

Intangible assets with estimable useful lives must be amortized over their respective estimated useful lives to their estimated residual values, and reviewed for impairment whenever events or circumstances indicate their carrying amount may not be recoverable. Intangible assets include trademarks, customer lists and patents and include costs to acquire and protect Company patents. Intangible assets are carried at cost less accumulated amortization. The Company amortizes these assets on a straight-line basis over their estimated useful lives of five years for customer lists and 15 years for all other intangible assets.

 

30
 

 

Revenue Recognition

 

Revenue is recognized when all of the following criteria are met: a) the Company has entered into a legally binding agreement with the customer; b) the products or services have been delivered; c) the Company's fee for providing the products and services is fixed or determinable; and d) collection of the Company’s fee is probable.

 

The Company’s policy is to record revenue net of any applicable sales, use, or excise taxes.  If an arrangement includes a right of acceptance or a right to cancel, revenue is recognized when acceptance is received or the right to cancel has expired.

 

The Company ships to certain customers under consignment arrangements whereby the Company’s product is stored by the customer.  The customer is required to report the use to the Company and upon such notice, the Company invoices the customer and revenue is recognized when above criteria has been met.

 

The Company also receives royalty revenue from third parties related to licensing agreements. The Company has royalty agreements with Nufix, RyMed and Bard Access Systems. Revenue under these agreements represented less than 1% of total revenue for 2012 and 2011.

 

Non-Cash Consulting Expense

 

From time to time, the Company issues restricted stock awards to consultants and advisors to the Company. These awards are measured at fair value at each reporting date, recognized ratably over the vesting period and are recorded in non-cash consulting expense.

 

Advertising Costs

 

The Company expenses advertising costs as incurred. Advertising costs of approximately $51,000 and $81,000 were expensed for the years ended December 31, 2012 and 2011, respectively.

 

Research and Development

 

Research and development costs, which are principally related to internal costs for the development of new technologies and processes for tissue and coatings, are expensed as incurred.

  

Income Taxes

 

The Company accounts for income taxes under the asset and liability method of accounting for deferred taxes as prescribed under FASB ASC 740, Accounting for Income Taxes.  Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. When applicable, a valuation allowance is established to reduce any deferred tax asset when it is determined that it is more likely than not that some portion of the deferred tax asset will not be realized. ASC 740 also requires reporting of taxes based on tax positions that meet a more-likely-than-not standard and that are measured at the amount that is more-likely-than-not to be realized. Differences between financial and tax reporting which do not meet this threshold are required to be recorded as unrecognized tax benefits. ASC 740 also provides guidance on the presentation of tax matters and the recognition of potential IRS interest and penalties. The Company classifies penalty and interest expense related to income tax liabilities as an income tax expense. There are no significant interest and penalties recognized in the statement of operations or accrued on the balance sheet. See Note 12, “Income Taxes” below.

 

Long-Lived Assets

 

Long-lived assets, including intangible assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to future net cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the estimated fair value of the assets. No impairment was recorded during the years ended December 31, 2012 or 2011.

 

Net Loss Per Share

 

Basic net income (loss) per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding. Shares issued during the period and shares reacquired during the period are weighted for the portion of the period that they were outstanding. Diluted net income (loss) per share is computed in a manner consistent with that of basic earnings per share while giving effect to all potentially dilutive common shares outstanding during the period, which include the assumed exercise of stock options and warrants using the treasury stock method.  Diluted net loss per share was the same as basic net loss per share for the years ended December 31, 2012 and 2011 as shares issuable upon the exercise of stock options and warrants were anti-dilutive as a result of the net losses incurred for those periods.

 

31
 

 

Dilutive earnings per share are not reported as their effects of including 5,266,535 and 5,008,670 outstanding stock options and warrants for the twelve months ended December 31, 2012 and 2011, respectively are anti-dilutive.

 

Stock-Based Compensation

 

The Company records stock-compensation expense according to the provisions of ASC 718.  Under ASC 718, stock-based compensation costs are recognized based on the estimated fair value at the grant date for all stock-based awards.  The Company estimates grant date fair values using the Black-Scholes-Merton option pricing model, which requires assumptions of the life of the award and the stock price volatility over the term of the award.  The Company records compensation cost of stock-based awards using the straight line method, which is recorded into earnings over the vesting period of the award. Pursuant to the income tax provisions included in ASC 718-740, the Company has elected the “short cut method” of computing its hypothetical pool of additional paid-in capital that is available to absorb future tax benefit shortfalls.

 

Fair Value of Financial Instruments

 

The carrying values of financial instruments, including trade accounts receivable, accounts payable, other accrued expenses and long-term debt, approximate their fair values based on terms and related interest rates.

 

We follow a framework for measuring fair value. The framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are described below:

 

Level 1: Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets.

 

Level 2: Inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.

 

Level 3: Inputs to the valuation methodology are unobservable and significant to the fair value measurement.

 

A financial instrument's level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. During the twelve months ended December 31, 2012 and 2011, there was no reclassification in financial assets or liabilities between Level 1, 2 or 3 categories.

 

The following tables set forth by level, within the fair value hierarchy, our assets and liabilities as of December 31, 2012 and December 31, 2011 that are measured at fair value on a recurring basis:

 

Accrued stock compensation

 

  As of
December 31,
2012		   As of
December 31,
2011		 
Level 1   218,850    608,933 
Level 2   -    - 
Level 3  $-   $- 

 

The valuation technique used to measure fair value of the accrued stock compensation is based on quoted stock market prices.

 

Warrant derivative liability

 

   As of
December 31,
2012		   As of
December 31,
2011		 
Level 1   -    - 
Level 2   -    - 
Level 3  $984,356   $2,344,516 

  

Acquisition contingent consideration liability

 

   As of
December 31,
2012		   As of
December 31,
2011		 
Level 1   -    - 
Level 2   -    - 
Level 3  $91,740    450,166 

 

The valuation technique used to measure fair value of the warrant liability and contingent consideration is based on a lattice model and significant assumptions and inputs determined by us.

 

32
 

 

Level 3 Changes

 

The following is a reconciliation of the beginning and ending balances for liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the period ending December 31, 2012:

 

Warrant derivative liability

Balance at January 1, 2012  $2,344,516 
Gain recognized in earnings   (1,360,160)
Balance at December 31, 2012  $984,356 

 

Acquisition contingent consideration liability

Balance at January 1, 2012  $450,166 
Gain recognized in earnings   (358,426)
Balance at December 31, 2012  $91,740 

 

During the year ended December 31, 2012, the Company did not change any of the valuation techniques used to measure its liabilities at fair value.

 

Items measured at fair value on a non-recurring basis:

 

The Company’s royalty liability is carried at its estimated fair value based upon the discounted present value of the payments using an estimated discount rate.  The Company did not have access to a readily traded market for similar credit risks and the estimated interest rate was based upon the Company’s estimate of a market interest rate to obtain similar financing.  The Company originally discounted the $16.8 million of estimated payments at an interest rate of 16.7%. This was adjusted to an estimated royalty total of $13.8 million as of December 31, 2012.  Accordingly, these inputs are classified as Level 3 inputs.

 

Recent Accounting Pronouncements

There are no recently issued accounting standards for which the Company expects a material impact to its consolidated financial statements.

 

(2) Equity

 

On May 27, 2011, we entered into a Purchase Agreement and Registration Rights Agreement with Lincoln Park Capital Fund, LLC (“LPC”) whereby LPC agreed to purchase up to $31 million of our common stock from time to time pursuant to the terms of the Purchase Agreement and we agreed to register the shares purchased by LPC. Upon signing the Purchase Agreement, LPC purchased 326,798 shares of our common stock for $1,000,002 and also received warrants to purchase 130,719 shares at an exercise price of $3.06 per share, the closing price on May 26, 2011. This was part of a private placement transaction pursuant to Rule 506 of Regulation D in the second quarter of 2011 in which we raised a total of $3,027,504 and issued 939,377 shares of our common stock and warrants to purchase 375,747 shares of our common stock.

 

During the first quarter of 2012, we issued 1,475,037 shares of our common stock to LPC for aggregate proceeds of $3,899,996. We used the proceeds for working capital and general corporate purposes.

 

The Purchase Agreement allowed us to require LPC to purchase up to $30 million of our common stock from time to time, and also allowed us to terminate the Purchase Agreement for any reason or for no reason with one business day's notice to LPC. On May 3, 2012, we terminated the LPC Purchase Agreement.

 

(3) Acquisition

 

On July 11, 2011, we signed an Asset Purchase Agreement (“Agreement”) with Robinson MedSurg, LLC (“Seller”), a company engaged in the manufacture, distribution and sale of implantable medical devices for maxillofacial, craniofacial and orthopedic uses. Under the terms of the Agreement, we purchased certain assets from Seller, as described in the Agreement, for $1 million in common stock. In addition, we agreed to pay Seller an additional $500,000 in common stock if gross revenue from the sale of products resulting from the purchased assets (“Products”) equals or exceeds $1 million, and an additional $500,000 in common stock when gross revenue from the sale of Products equals or exceeds $2 million, provided that such gross revenue thresholds are achieved within 2 years. As of December 31, 2012, these revenue thresholds have not been achieved. We also engaged the sole member of Seller as a consultant. We accounted for this business combination under the acquisition method in accordance with ASC 805 - Business Combinations, which requires the acquiring entity in a business combination to recognize all (and only) the assets acquired and liabilities assumed in the transaction; establishes the acquisition-date fair value as the measurement objective for all assets acquired and liabilities assumed; and requires the acquirer to disclose to investors and other users all of the information they need to evaluate and understand the nature and financial effect of the business combination.

 

The purchase price was allocated as follows:

 

Finished inventory  $504,827 
Customer list   157,077 
Trademark   59,644 
Goodwill   728,618 
      
Total purchase price  $1,450,166 

 

33
 

 

Goodwill is primarily made up of business synergies expected from the additional product offerings through our established distribution network.

 

The consideration for the purchase price was made up of the following components:

 

Stock issued   $ 1,000,000  
Contingent consideration     450,166  
Total consideration   $ 1,450,166  

 

The initial valuation of the contingent consideration was based upon management’s estimates of the probability of reaching the milestones that would trigger the requirement to pay the contingent amounts. During 2012, management reviewed and adjusted the assumptions associated with the contingent liability which resulted in a reduction of the contingent liability to $91,740 as of December 31, 2012.

 

The useful lives of the Customer List and the Trademark are 5 years and 15 years, respectively resulting in the following amortization schedule:

 

2013     35,392  
2014     35,392  
2015     35,392  
2016     26,229  
2017     3,976  
Thereafter     27,252  
Total   $ 163,633  

 

(4)           Inventories

 

Inventories consist of the following:

 

    December 31,  
    2012       2011  
Current inventories                
Raw materials   $ 1,919,250     $ 1,612,901  
Work in process     4,991,032       2,586,047  
Finished goods     7,350,332       5,107,400  
      14,260,614       9,306,348  
Reserve for obsolescence     (1,119,193 )     (826,638 )
Current inventories, total   $ 13,141,421     $ 8,479,710  
Non-current inventories                
Finished goods   $ 1,238,225     $ 920,542  
Non-current inventories, total   $ 1,238,225     $ 920,542  
Total inventories   $ 14,379,646     $ 9,400,252  

 

(5)           Property and Equipment, Net

 

Property and equipment, net are as follows:

 

    December 31,  
    2012     2011  
Buildings   $ 1,653,263     $ 1,653,263  
Equipment     5,172,523       3,597,471  
Computer equipment     312,650       392,375  
Computer software     392,206       228,054  
Furniture and fixtures     170,118       171,418  
Leasehold improvements     1,793,756       1,357,218  
Vehicles     78,306       68,306  
Total cost     9,572,822       7,468,105  
Less: accumulated depreciation     (4,337,955 )     (3,693,965 )
    $ 5,234,867     $ 3,774,140  

 

34
 

 

The Company leases certain equipment under capital leases. For financial reporting purposes, minimum lease payments relating to the assets have been capitalized. As of December 31, 2012, the Company has recorded $549,604 gross assets in Equipment, and $66,886 of accumulated depreciation relating to assets under capital leases.

 

Maintenance and repairs expense for 2012 and 2011 was $287,811 and $109,171, respectively.  Depreciation expense related to property and equipment, including property under capital lease for 2012 and 2011 was $707,971 and $701,748, respectively.

 

(6)           Intangible Assets

 

Bacterin has applied for various patents with regards to processes for its products.

 

The following table sets forth information regarding intangible assets:

 

 

December 31,
2012

    

December 31,
2011

  
Intellectual Property            
Gross carrying value   $ 820,778     $ 809,615  
Accumulated amortization   $ (228,400 )   $ (153,482 )
Net carrying value   $ 592,378     $ 656,133  
                 
Aggregate amortization expense:   $ 74,918     $ 53,638  
                 
Estimated amortization expense:                
                 
2013           $ 74,918  
2014           $ 74,918  
2015           $ 74,918  
2016           $ 74,918  
2017           $ 74,918  
Thereafter           $ 217,788  
Total           $ 592,378  

 

(7)           Accrued Liabilities

 

Accrued liabilities consist of the following:

 

    December 31,  
    2012     2011  
Acquisition contingent liability   $ 91,740     $ 450,166  
Accrued stock compensation     218,850       608,933  
Wages/commissions payable     1,013,909       1,289,827  
Other accrued expenses     1,075,591       1,413,285  
    $ 2,400,090     $ 3,762,211  

 

(8)          Long-term Debt

 

On July 29, 2011, we entered into Loan and Security Agreement with MidCap Funding III, LLC (“MidCap”), whereby MidCap and Silicon Valley Bank (“SVB”) agreed to provide a $15 million credit facility which allowed us to borrow $7 million and up to an additional $8 million in connection with a permitted acquisition through December 31, 2011. The $8 million portion expired unused as of December 31, 2011. The credit facility was secured by substantially all of our assets and carried an interest rate of LIBOR plus 7.5%, subject to a LIBOR floor rate of 3% and contained covenants based upon revenue thresholds. Repayment was interest only for the first nine months, with principal and interest for the subsequent 33 months. In the second quarter of 2012, the interest only period was extended through December 31, 2012. We repaid this loan in full with the proceeds from our credit facility with ROS Acquisition Offshore LP (“ROS”) on August 24, 2012.

 

35
 

 

On April 23, 2012, the Company secured an accounts receivable credit facility with Midcap Financial LLC and Silicon Valley Bank. The revolving loan credit facility allowed Bacterin to borrow up to $5 million through January 1, 2015. The facility allowed borrowings based upon a predetermined formula of up to 80% of Bacterin's eligible accounts receivable, as defined in the credit and security agreement. The Company also amended its existing Loan and Security Agreement with MidCap to allow the Company to borrow up to an additional $3 million for the next nine months in connection with a permitted acquisition. The credit facility carried an interest rate of LIBOR plus 4%, subject to a LIBOR floor rate of 2.5%. The Company also agreed to pay a 0.5% collateral management fee on the average outstanding balance of the facility and 1% of the average unused portion of the facility, as well as a 1% origination fee. The Company repaid this accounts receivable credit facility in full with the proceeds from the credit facility with ROS on August 24, 2012.

 

On August 24, 2012, the Company entered into a Credit Agreement with ROS, whereby ROS agreed to provide an initial $20 million term loan and Bacterin may also borrow an additional $5 million upon achievement of certain revenue objectives prior to December 31, 2013. The loan carries an interest rate of LIBOR plus 12.13%, subject to a LIBOR floor rate of 1.0%. Bacterin also agreed to pay a royalty of 1.75% on the first $45,000,000 of net sales, plus 1.0% of net sales in excess of $45,000,000 for each of the next ten years. Bacterin has the right to repurchase the loan and royalty interest at amount to be determined based on the date of repurchase and the amount of prior principal, interest and royalty payments. The loan is secured by substantially all of our assets. The estimate of the royalty component of the facility over the life of the agreement resulted in a debt discount and a royalty liability of $7,341,520. The debt discount will be amortized to interest expense over the seven year term of the loan using the effective interest method. The royalty liability will be accreted to $13.8 million through interest expense over the ten year term of the royalty agreement using the effective interest method. Payments made under the royalty agreement, per the table below, will directly reduce the royalty liability.

 

Other non-operating expense in 2012 consisted of a non cash charge of approximately $706,000 of debt discounts and loan origination fees written off in addition to approximately $944,000 of prepayment penalties related to the term financing with MidCap and Silicon Valley Bank that was prepaid in connection with the new 2012 term loan financing with OrbiMed. Other non-operating expense in 2011 consisted of a non cash charge of approximately $1,300,000 of debt discounts written off in connection with the new 2011 term loan financing with MidCap Financial and Silicon Valley Bank.

 

 The Company received net proceeds of approximately $10 million following repayment of the existing term loan and accounts receivable credit facility with MidCap Financial, including prepayment penalties. The Company plans to use the net proceeds for working capital and general corporate purposes.

 

Long-term debt consists of the following:

 

   

December 31,
2012

    

December 31,
 2011

  
Loan payable to ROS Acquisition Offshore, LIBOR plus 12.13% maturing August 2019   $ 20,000,000     $ -  
Loan payable to MidCap, LIBOR plus 7.5% maturing January 2015     -       4,666,667  
Loan payable to SVB, LIBOR plus 7.5% maturing January 2015     -       2,333,333  
6.00% loan payable to Valley Bank of Belgrade, $10,746 monthly payments including interest, maturing December 24, 2030; secured by building     1,421,420       1,464,183  
      21,421,420       8,464,183  
                 
Less: Current portion     (45,135 )     (1,632,978 )
Debt discount     (6,893,183 )     (192,935 )
Long-term debt   $ 14,483,102     $ 6,638,270  

 

The following is a summary of maturities due on the debt as of December 31, 2012:

 

2013   45,135 
2014   47,919 
2015   50,875 
2016   1,720,679 
2017   6,724,041 
Thereafter   12,832,771 
Total  $21,421,420 

 

The following is a summary of estimated future royalty payments as of December 31, 2012:

 

2013   788,000 
2014   853,000 
2015   1,050,000 
2016   1,289,000 
2017   1,384,000 
Thereafter   8,477,000 
Total  $13,841,000 

 

36
 

 

(9)           Stock-Based Compensation

 

Our Equity Incentive Plan ("The Plan") provides for stock awards, including options and performance stock awards, to be granted to employees, consultants, independent contractors, officers and directors. The purpose of the incentive compensation plan is to enable us to attract, retain and motivate key employees, directors and, on occasion, independent consultants, by providing them with stock options and restricted stock grants. Stock options granted under the incentive compensation plan may be either incentive stock options to employees, as defined in Section 422A of the Internal Revenue Code of 1986, or non-qualified stock options. The plan is currently administered by the compensation committee of our Board of Directors. The administrator of the plan has the power to determine the terms of any stock options granted under the incentive plan, including the exercise price, the number of shares subject to the stock option and conditions of exercise. Stock options granted under the incentive plan are generally not transferable, vest in installments over the requisite service period and are exercisable during the stated contractual term of the option only by such optionee. The exercise price of all incentive stock options granted under the incentive plan must be at least equal to the fair market value of the shares of common stock on the date of the grant. 9 million shares are authorized under the Plan and at December 31, 2012, we had approximately 1,559,898 shares available for issuance. Shares issued under the Plan may be authorized, but unissued, or reacquired shares.

 

Stock compensation expense recognized in the statement of operations for the years ended December 31, 2012 and 2011 is based on awards ultimately expected to vest and reflects an estimate of awards that will be forfeited. ASC 718 requires forfeitures to be estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates.

 

The estimated fair value of stock options granted is done using the Black-Sholes-Merton method applied to individual grants. Key assumptions used to estimate the fair value of stock awards are as follows:

 

·Risk-Free Rate: The risk-free rate is determined by reference to U.S. Treasury yields at or near the time of grant for time periods similar to the expected term of the award. We used a weighted-average rate of 1.20% for year ended December 31, 2012.

 

·Expected Term: We do not have adequate history to estimate an expected term of stock-based awards, and accordingly, we use the short-cut method as prescribed by Staff Accounting Bulletin 107 to determine an expected term. We used a weighted-average expected term of 6.7 years for the year ended December 31, 2012.

  

·Volatility: We estimate expected volatility based on peer-companies as prescribed by ASC 718. We used a weighted-average volatility rate of 66% for the year ended December 31, 2012.

 

·Dividend Yield: The dividend yield assumption is based on our history and expectation of dividend payouts and was 0% as of December 31, 2012 and 2011.

 

Activity under our stock option plans was as follows:

 

   2012   2011 
   Shares   Weighted
Average
Exercise Price		   Weighted
Average Fair
Value at Grant
Date		   Shares   Weighted
Average
Exercise Price		   Weighted
Average Fair
Value at Grant
Date		 
Outstanding at January 1   4,828,910   $2.14   $1.01    3,850,743   $1.38   $0.84 
Granted   1,716,250    1.79    1.03    2,261,750    2.90    1.39 
Exercised   (39,375)   0.87    0.37    (775,833)   1.31    0.66 
Cancelled or expired   (1,239,250)   2.17    0.39    (507,750)   2.42    1.23 
Outstanding at December 31   5,266,535   $2.02   $1.03    4,828,910   $2.14   $1.01 
Exercisable at December 31   2,565,301   $1.83   $0.80    2,194,593   $1.63   $0.67 

 

The total intrinsic value of options exercised in 2012 was $39,375. The aggregate intrinsic value of options outstanding as of December 31, 2012 is $473,416. The aggregate intrinsic value of exercisable options as of December 31, 2012 is $473,416. As of December 31, 2012, there were 2,701,234 unvested options with a weighted average fair value at the grant date of $1.18 per option. As of December 31, 2012, there is no compensation related to nonvested awards not yet recognized.

 

From time to time we may grant stock options and restricted stock grants to consultants. We account for consultant stock options in accordance with ASC 505-50. Consulting expense for the grant of stock options to consultants is determined based on the estimated fair value of the stock options at the measurement date as defined in ASC 505-50 and is recognized over the vesting period.

 

37
 

 

The following table summarizes restricted stock award activity during the year ended December 31, 2012:

 

   Shares 
Outstanding at Jan. 1, 2012   1,632,900 
Awarded   151,000 
Cancelled   (677,500)
Vested   (372,500)
Outstanding at December 31, 2012   733,900 

 

The restricted stock awards generally vest over three to five year periods. The Company recognized non cash consulting expense of $427,787 and $1,675,008 for the years ended December 31, 2012 and 2011, respectively. As of December 31, 2012, the total expense related to nonvested restricted stock awards not yet recognized is $562,622 and is expected to be recognized over four years.

 

(10)           Warrants

 

Associated with the second quarter of 2011 private placement of common stock, 375,747 warrants with exercise prices ranging from $2.95 to $3.52 were issued to the participants. Warrants issued with common stock under this private placement were recorded as additional paid in capital at their estimated fair market value of $312,285 during the second quarter of 2011.

 

In connection with the July 29, 2011MidCap financing described above, MidCap and SVB received 192,157 warrants to purchase shares of our common stock equal to 7% of the amount drawn on the credit facility divided by the exercise price of $2.55 per share. The warrants have a seven year term. MidCap and SVB also had the right to receive additional warrants if additional amounts were drawn under the facility. The fair value of these warrants, $227,388, was recorded as a discount to the underlying debt and additional paid in capital.

 

In the third quarter of 2012, the Company issued 297,991 warrants with an exercise price of $2.30 to a broker in conjunction with the August 24, 2012 financing arrangement with ROS. These were recorded in “Other Assets” and will be amortized over the life of the financing term. These warrants were issued in the fourth quarter of 2012. In addition, on July 23, 2012 the Company issued 300,895 warrants with an exercise price of $1.03 to a private party resulting in $342,485 recorded in “Other Expense”.

 

The following table summarizes our warrant activities for the period ended December 31, 2012:

 

       Weighted 
       Average 
       Exercise 
   Shares   Price 
Outstanding at January 1, 2012   6,967,529   $2.22 
Issued   598,886    1.66 
Exercised   (244,748)   1.58 
Outstanding at December 31, 2012   7,321,667   $2.20 

 

The exercise of 244,748 warrants in 2012 resulted in the issuance of 129,972 shares of common stock as the warrants were exercised using the cashless feature of the warrants.

 

We utilize a lattice model to determine the fair market value of the warrants accounted for as liabilities. The 1,570,565 warrants issued in connection with a 2010 bridge financing and 375,000 warrants issued in connection with a 2010 debt financing were accounted for as derivative liabilities in connection with the price protection provisions of the warrants in compliance with ASC 815. There were 133,474 additional warrants issued in the first quarter of 2011 and an additional 143,700 warrants in the first quarter of 2012 as a result of the LPC share issuance triggering the anti-dilution clause in the original warrant agreement. The lattice model accommodates the probability of exercise price adjustment features as outlined in the warrant agreements. We recorded an unrealized gain of $1,360,160 resulting from the change in the fair value of the warrant derivative liability for 2012. Under the terms of the warrant agreement, at any time while the warrant is outstanding, the exercise price per share can be reduced to the price per share of future subsequent equity sales of our common stock or common stock equivalents that is lower than the exercise price per share as stated in the warrant agreement.

 

38
 

 

The estimated fair value was derived using the lattice model with the following weighted-average assumptions:

 

   Year ended 
   December 31, 
   2012   2011 
Value of underlying common stock (per share)  $1.25   $1.56 
Risk free interest rate   0.24%   0.32%
Expected term   3.83 years    4.67 years 
Dividend yield   0    0 
Volatility   72%   69%

 

The following table summarizes our activities related to number of warrants used in the derivative liability for the period ended December 31, 2012 and 2011:

 

   2012   2011 
Balance at January 1   1,506,007    1,595,473 
Derivative warrants issued   143,700    133,474 
Derivative warrants exercised   -    (222,940)
Balance at December 31   1,649,707    1,506,007 

 

(11)           Commitments and Contingencies

 

Operating Leases

 

We lease two office facilities under non-cancelable operating lease agreements with expiration dates in 2013 and 2019. We have the option to extend both the leases for another ten year term and for one facility, we have the right of first refusal on any sale. We have exercised the option to extend the lease that expires in 2013. We lease an additional office facility under a month-to-month arrangement. Future minimum payments for the next five years and thereafter as of December 31, 2012, under these leases, are as follows:

 

2013  $244,828 
2014  $263,136 
2015  $263,136 
2016  $263,136 
2017  $263,136 
Thereafter  $997,264 
Total  $2,294,636 

 

Rent expense was approximately $298,000 and $215,000 for the years ended December 31, 2012 and 2011, respectively. Rent expense is determined using the straight-line method of the minimum expected rent paid over the term of the agreement. We have no contingent rent agreements.

 

Indemnifications

 

Our arrangements generally include limited warranties and certain provisions for indemnifying customers against liabilities if our products or services infringe a third-party's intellectual property rights. To date, we have not incurred any material costs as a result of such warranties or indemnifications and have not accrued any liabilities related to such obligations in the accompanying financial statements.

 

We have also agreed to indemnify our directors and executive officers for costs associated with any fees, expenses, judgments, fines and settlement amounts incurred by any of these persons in any action or proceeding to which any of those persons is, or is threatened to be, made a party by reason of the person's service as a director or officer, including any action by us, arising out of that person's services as our director or officer or that person's services provided to any other company or enterprise at our request.

 

Litigation

 

On April 4, 2012, Bacterin International, Inc. filed suit against SeaArk Capital, LLC and its principal, Mark Bartosh, seeking recovery of $1,648,993.58 for product delivered to SeaArk in 2011.  The case is pending in the United States District Court of the Eastern District of Pennsylvania and the parties are engaged in settlement negotiations.  In connection with this litigation, Bacterin also filed a motion for a prejudgment writ of replevin or attachment in the Third Judicial District Court in the State of Utah to recover product previously sold to SeaArk.  The Utah case was removed to the United States District Court for the District of Utah and Bacterin’s motion for prejudgment writ was granted.  SeaArk has returned all Bacterin products previously stored in Utah.

 

39
 

 

On April 19, 2012, Bacterin International, Inc. filed a lawsuit in federal court in Dallas, Texas, seeking injunctive relief and damages against Shantal Howell, a former regional vice president of the company.  The suit arises out of the former employee’s breach of contract, breach of fiduciary duties, interference with Bacterin’s business relationships, and misappropriation of Bacterin’s trade secrets.  On June 8, 2012, Howell asserted a counterclaim against Bacterin for breach of contract and defamation, seeking damages for allegedly owed commissions and loss of business.  The parties entered into a settlement agreement in January of 2013 whereby Ms. Howell agreed to pay Bacterin $15,000, and Ms. Howell also agreed not to compete with Bacterin or solicit customers of Bacterin for one year.

 

(12)           Income Taxes

 

The Company’s provision for income taxes differs from applying the statutory U.S. federal income tax rate to income before taxes. The primary difference results from providing for state income taxes and from deducting certain expenses for financial statement purposes but not for federal income tax purposes.

 

The components of income (loss) before provision for income taxes consist of the following:

 

   Year Ended December 31, 
   2012   2011 
         
United States  $(7,713,822)  $(3,006,469)
           
   $(7,713,822)  $(3,006,469)

 

The components of the income tax provision are as follows:

 

   Year Ended December 31, 
   2012   2011 
         
Current:      
Federal  $-   $- 
State   -    - 
Total current   -    - 
           
Deferred:          
Federal   -    - 
State   -    - 
Total deferred   -    - 
           
   $-   $- 

 

The reconciliation of income tax attributable to operations computed at the U.S. Federal statutory income tax rate of 35% to income tax expense is as follows:

 

   Year Ended December 31, 
   2012   2011 
Statutory Federal tax rate  $(2,699,838)  $(1,052,264)
Valuation allowance   2,789,646    3,729,905 
State income taxes, net of Federal benefit   (443,236)   (172,752)
Change in state income tax rate   823,665    - 
Change in Warrant Derivative Liability   (554,211)   (2,598,646)
Nondeductible meals & entertainment expense   83,974    93,757 
           
   $-   $- 

 

40
 

 

 

Deferred tax components are as follows:

 

   At December 31, 
   2012   2011 
         
Deferred tax assets:          
Current deferred tax assets          
Accrued liability for vacation  $75,442   $78,972 
Bad debt reserve   642,546    540,462 
Charitable contributions carrforward   19,686    14,835 
Inventory reserve   456,026    362,399 
Restricted stock compensation   94,212    266,957 
Total current deferred tax assets   1,287,912    1,263,625 
Valuation Allowance   (1,287,912)   (1,263,625)
           
Net current deferred tax assets   -    - 
           
Noncurrent deferred tax assets          
Net operating loss carryovers   11,963,305    9,673,993 
Stock warrants   139,549    - 
Stock option compensation   1,023,192    749,755 
Total noncurrent deferred tax assets   13,126,046    10,423,748 
Valuation allowance   (13,172,543)   (10,407,184)
           
Net noncurrent deferred tax assets   (46,497)   16,564 
           
Deferred tax liabilities:          
Goodwill Amortization   (11,346)   (3,782)
Depreciation   31,055    (31,037)
Amortization   26,788    18,255 
           
Total deferred tax liabilities   46,497    (16,564)
           
Net deferred tax assets  $-   $- 

  

41
 

 

The ultimate realization of deferred tax assets is dependent upon the existence, or generation, of taxable income in the periods when those temporary differences and net operating loss carryovers are deductible. Management considers the scheduled reversal of deferred tax liabilities, taxes paid in carryover years, projected future taxable income, available tax planning strategies, and other factors in making this assessment. Based on available evidence, management does not believe it is more likely than not that all of the deferred tax assets will be realized. Accordingly, the Company has established a valuation allowance equal to the net realizable deferred tax assets. The valuation allowance increased by $2,789,646 in 2012 and decreased by $2,041,543 in 2011.

 

At December 31, 2012 and 2011, the Company had total domestic Federal and state net operating loss carryovers of approximately $29,360,685 and $22,069,461, respectively. Federal net operating loss carryovers expire at various dates between 2024 and 2032, while state net operating loss carryovers expire between 2024 and 2032.

 

Under the Tax Reform Act of 1986, as amended, the amounts of and benefits from net operating loss carryovers and research and development credits may be impaired or limited in certain circumstances. Events which cause limitations in the amount of net operating losses that the Company may utilize in any one year include, but are not limited to, a cumulative ownership change of more than 50%, as defined, over a three year period. The Company does not believe that such an ownership change has occurred in 2012 or 2011.

 

The 2009 through 2011 tax years remain open to examination by the Internal Revenue Service and the 2007 to 2011 tax years remain open to the Montana Department of Revenue and various other state tax agencies. These taxing authorities have the authority to examine those tax years until the applicable statute of limitations expire.

 

The Company did not recognize any interest or penalties related to income taxes for the years ended December 31, 2012 and 2011.

 

(13)Employee Benefit Plans

 

As of January 1, 2011, we switched from a SIMPLE IRA to a 401(k) retirement plan.  Qualified employees may defer their salary and the deferrals are matched up to 2%.  The plan covers substantially all full-time employees.  Under the terms of the plan, participants may contribute up to the lower of $16,500 of their salary or the statutorily prescribed limit to the plan.  Employees are eligible after six months of employment and may enroll twice a year in January and July.

 

(14)Supplemental Disclosure of Cash Flow Information

 

Supplemental cash flow information is as follows:

 

   Year ended 
   December 31, 
   2012   2011 
Supplemental disclosure of cash flow information          
Cash paid during the period for:          
Interest  $1,873,155   $1,039,703 
Income taxes   -    - 
Non-cash activities:          
Non-cash consulting expense   $401,395   $1,675,008 
Acquisition contingent consideration  $-   $450,166 
Warrants issued with debt  $220,872   $227,388 
Issuance of stock for business acquisition  $-   $1,000,000 
Conversion of accounts payable into common stock  $-   $600,000 
Decrease in warrant derivative liability due to warrant exercises  $-   $968,554 
Capital lease acquisition  $350,986   $116,263 
Issuance of warrants  $220,872   $- 
Debt discount related to financing  $7,341,520   $- 
Royalty liability related to financing  $7,341,520   $- 

  

(15)Related Party Transactions

 

Guy Cook, our President and Chief Executive Officer, serves as a board member of West Coast Tissue Services (“WCTS”) and formerly served as a director for American Donor Services (“ADS”). Mr. Cook has not received any compensation for his board service for either entity. Mitchell Godfrey, a director, is on the board of ADS and also serves as secretary and treasurer for ADS. Mr. Godfrey received $5,000 for his service to ADS in 2012 and no compensation from ADS in 2011. Mr. Cook’s spouse performed bookkeeping and accounting services for ADS in 2011, but she received no compensation for her services. Mr. Cook’s spouse is also employed by Bacterin as the Director of Human Resources.

 

ADS and WCTS recover tissue from donors.  We reimburse them for their recovery fees, which are comprised primarily of labor costs. The approximate aggregate amount of all transactions with WCTS was $510,500 for 2011 and $525,900 for 2012, and the approximate aggregate amount of all transactions with ADS was $1,765,908 for 2011 and $1,472,949 for 2012. These relationships benefit us, and thus Msrs. Cook and Godfrey, as these entities provide us with donors, thus insuring that we have a pipeline of current and future donors, which is necessary to our success. As of December 31, 2012, we had an accounts payable balance of $418,922 to American Donor Services.

 

42
 

 

On June 27, 2012, the Board of Directors granted a waiver of certain provisions of the Company’s Code of Conduct to allow an entity controlled by two of the CEO’s adult children to become a distributor of the Company’s products.  This entity acquired inventory from Allograft Tissue Management, a non-affiliated distributor that had previously acquired inventory from the Company.  The affiliated distributor, Silver Forest Fund, LP, exchanged products initially purchased from the non-affiliated distributor for different Bacterin products of equivalent value. Other than product exchanges and payment of amounts owed by the non-affiliated distributor, there have been no other direct transactions between Bacterin and the affiliated distributor. Mr. Cook pledged 1,850,000 of his shares of Bacterin stock as collateral for loans made to the affiliated distributor by independent third parties.

  

(16)Subsequent Events

 

On January 29, 2013, we received two warning letters from the Food and Drug Administration (“FDA”) related to our procedures to ensure compliance with regulatory requirements.  The concerns included (i) procedures for implementing corrective and preventative action; (ii) procedures for receiving, reviewing and evaluating complaints; (iii) procedures related to changes to a specification, method, process or procedure; (iv) procedures to ensure that purchased or otherwise received products or services conform to specified requirements; (v) procedures to control documents; (vi) procedures to identify training needs and to ensure all personnel are trained to adequately perform assigned responsibilities; (vii) procedures related to medical device reporting; (viii) procedures to control product that does not conform to specified requirements; (ix) procedures for finished device acceptance; and (x) marketing materials related to our Elutia wound drain.  The company has responded to the warning letters and is committed to actively working with the FDA to address their concerns. 

 

On February 11, 2013, we received a subpoena from the Office of the Inspector General of the U.S. Department of Health and Human Services (“OIG”) in connection with an investigation into possible false or otherwise improper claims submitted to Medicare. The subpoena requests documents related to physician referral programs operated by the Company, which we believe refers to the Company’s prior practice of compensating physicians for performing certain educational and promotional services on behalf of the Company. This program was discontinued in 2010 and involved payments to only a small number of physicians that we believe were made in accordance with all applicable laws. We intend to cooperate with the OIG’s investigation.

  

43
 

 

Item 9             Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

 

None

 

Item 9A.        Controls and Procedures

 

Evaluation of Disclosure Controls and Procedures

 

Our senior management with the participation of our chief executive officer and chief financial officer evaluated the effectiveness of our disclosure controls and procedures (as defined in Rules 13a – 15(e) under the Exchange Act) as of December 31, 2012.  Based upon that evaluation, we concluded that as of December 31, 2012, our disclosure controls and procedures were ineffective due to the material weakness in our internal controls over financial reporting detailed below that have not been fully remediated as of December 31, 2012.

 

Management’s Report on Internal Control over Financial Reporting

 

Management is responsible for maintaining adequate internal control over financial reporting as such term is defined in rule 13a-15 (f) under the Securities and Exchange Act of 1934 as amended.  Under the supervision and with the participation of senior and executive management, we conducted an evaluation of our internal controls over financial reporting based upon the framework Internal Control – Integrated Framework as outlined by COSO, the Committee of Sponsoring Organizations of the Treadway Commission.  Our internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with accounting principles generally accepted in the United States of America.  Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements.  Also, projections of an evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions or that the degree of compliance with the policies or procedures may deteriorate.

 

Based on our evaluation under the framework Internal Control – Integrated Framework, management concluded that our internal control over financial reporting was ineffective as of December 31, 2012 due to material weaknesses in our internal control over financial reporting that have not been fully remediated as of December 31, 2012 as detailed below:

 

1) Insufficient number of personnel with the appropriate level of experience and technical expertise to appropriately resolve account reconciliations, while completing the financial statement close process.  Until this design deficiency in our internal control over financial reporting is remediated, there is a reasonable possibility that a material misstatement in our annual or interim financial statements could occur and not be corrected or prevented by our internal control system in a timely manner.

 

Our efforts to remediate this weakness include the following:

 

- We plan to expand the training of qualified accounting and finance personnel throughout 2013 and include an additional level of management review to the financial close process.

  

2)  The documentation surrounding equity transactions for employees and consultants needs to be strengthened to comply with procedures outlined by the Company to ensure that all equity related transactions are properly recorded in the appropriate periods.

   

Our efforts to remediate the weakness include the following:

 

- Continued development of a standard operating procedure for the grant of all equity securities including the approval process by the Compensation Committee and the Board of Directors.

 

-Additional review by our Human Resources department on all stock option vestings and cancellations and additional review by in house legal counsel on all stock option grants.

 

  Item 9B. Other Information

  

None

 

44
 

 

 PART III

 

Item 10 Directors and Executive Officers of the Registrant

 

Executive Officers and Directors

 

The names, ages and positions of our executive officers and directors are as follows:

 

Name   Age   Position
         
Guy Cook   48   Chairman of the Board, Chief Executive Officer and President
         
Mitchell T. Godfrey   67   Director
         
Kent Swanson   68   Director
         
Michael Lopach   64   Director
         
Jon Wickwire   69   Director
         
John Deedrick   50   Director
         
John P. Gandolfo   52   Chief Financial Officer
         
Darrel Holmes   59   Chief Operating Officer
         
Nicholas Navarro   33   National Sales Manager
         
Greg Juda   37   Chief Scientific Officer

 

The principal occupations for the past five years (and, in some instances, for prior years) of each of our executive officers and directors are as follows.

 

Guy Cook, Chairman of the Board, Chief Executive Officer and President, is considered an international expert in biofilm science and its application. He is widely published and has been invited to speak at many prominent biofilm conferences, including the “Anti-Infective Materials” Seminar in Tokyo and the FDA-CDRH Antimicrobial Device Efficacy Testing Seminar. Mr. Cook started his career as a product specialist in the Image Analysis Department for Laboratory Equipment Company in Chicago. He later became President of Delta Resources in Crystal Lake, Illinois, which specialized in developing customized image analysis solutions for the academic community. In 1996, he moved to Montana and worked as a Confocal Microscopist for the Center for Biofilm Engineering at the Montana State University where he developed several proprietary testing models for the medical device industry. In 1998, Mr. Cook founded Bacterin, and as CEO and President, Mr. Cook has been the driving force behind the Company’s growth and development. Mr. Cook attended the University of Indiana and received Bachelor of Science degrees in Finance and Economics.

 

Mitchell T. Godfrey, Director, has been involved over the past 25 years in a number of private enterprises, including consulting for and participation in firms in the manufacturing, medical devices, nuclear, service and animal health industries.  Mr. Godfrey graduated from the University of Utah in 1968 with Bachelor of Science degrees in psychology and mathematics. He served as a Lieutenant in the U.S. Navy for a period of four years in the 1960s.  Upon his return from overseas duty, he served as a director of the Utah Vietnam Agent Orange Program. He currently is the Chairman of the Montana based Crow Creek Falls Conservation Group and has been actively involved in many other organizations.  Mr. Godfrey joined us in October 2003 as our Chief Financial Officer until December 2007, when his primary responsibility was changed to investor relations.  Mr. Godfrey currently serves as a consultant.

 

Kent Swanson, Director, was with Accenture for over 32 years, retiring from the firm in 2001 as a Senior Partner.  He held global leadership and management positions in a wide range of industries and geographies.  From 2001 to 2008, he was the Board Chair of ALN Medical Management; providing outsourced services for clinic-based physician practices.  Also from 2001 to 2008, he was Board Chair for Boys Hope Girls Hope of Colorado, a charitable organization providing a home and scholarship education for disadvantaged children with significant capabilities and promise.  From 2002 to 2009, he was a Board member, Audit Committee member and Compensation Committee Chair for MPC Computers.  Mr. Swanson graduated with distinction from the University of Minnesota earning an M.S. in Business and received an M.B.A. from the University of Chicago in 1969. Mr. Swanson serves as chairman of the Board’s Compensation Committee.

 

45
 

 

Michael Lopach, Director, is a certified public accountant with over 40 years of accounting experience.  Mr. Lopach spent 27 years of his career with Galusha, Higgins, Galusha & Co., the largest privately held accounting firm in Montana and northern Idaho, where he served as president and CEO.  In 1999, Mr. Lopach founded Lopach & Carparelli PC, an accounting firm that focuses on medical practitioners.  Mr. Lopach received his MBA from the University of Notre Dame.  Mr. Lopach serves as chairman of the Board’s Audit Committee.

 

Jon Wickwire, Director, is an attorney and founding shareholder of Wickwire Gavin, P.C., a national construction law firm which merged with Akerman Senterfitt, one of the top 100 law firms in the United States.  Mr. Wickwire served as lead counsel on major infrastructure litigation and alternative dispute resolutions, both domestically and internationally, throughout his 35 year career, and was the founding fellow of the American College of Construction Lawyers.  Mr. Wickwire also served as the founding chairman of the College of Scheduling, an organization dedicated to advancing the techniques, practice and profession of project scheduling, and has authored several books and articles on construction and public contract law, including Construction Management:  Law and Practice and The Construction Subcontracting Manual:  Practice Guide with Forms .  Mr. Wickwire currently serves on the advisory board for Crunchies Food Company. Mr. Wickwire is a graduate of the University of Maryland and Georgetown University Law Center.  Mr. Wickwire serves as chairman of the Nominations and Corporate Governance Committee.

 

John Deedrick, Director, is an experienced senior executive with 15 years experience in healthcare venture capital and business consulting.  Mr. Deedrick also has 12 years of experience in the high tech defense industry.  He has served as a corporate venture capitalist for Mayo Clinic and a Founder and General Partner for Accuitive Medical Ventures.  Mr. Deedrick also serves as President and CEO of CHIP Solutions and is Founder and Chairman of GreatDeeds, a Minnesota non-profit organization. Mr. Deedrick has served on the board of numerous early stage healthcare companies over the last 15 years. Mr. Deedrick received his undergraduate degree from Northwestern College (Roseville, MN) and his MBA from St. Thomas University (St. Paul, MN).

 

John P. Gandolfo, Chief Financial Officer, joined Bacterin as its interim Chief Financial Officer on a part-time basis, effective June 4, 2010, and filled this position full time commencing on July 6, 2010.  Mr. Gandolfo has 25 years of experience as chief financial officer of rapidly growing private and publicly held companies with a primary focus in the life sciences, healthcare and medical device areas.  Mr. Gandolfo has had direct responsibility over capital raising, including four public offerings, financial management, mergers and acquisition transactions and SEC reporting throughout his professional career.  Prior to joining Bacterin, Mr. Gandolfo served as the Chief Financial Officer for Progenitor Cell Therapy LLC, a leading manufacturer of stem cell therapies. Prior to joining Progenitor, Mr. Gandolfo served as the Chief Financial Officer for Power Medical Interventions, Inc., a publicly held developer and manufacturer of computerized surgical stapling and cutter systems, from January 2007 to January 2009.  Prior to joining PMI, Mr. Gandolfo was the Chief Financial Officer of Bioject Medical Technologies, Inc., a publicly held supplier of needle-free drug delivery systems to the pharmaceutical and biotechnology industries, from September 2001 to May 2006, and served on the Bioject’s Board of Directors from September 2006 through May 2007. Prior to joining Bioject, Mr. Gandolfo was the Chief Financial Officer of Capital Access Network, Inc., a privately held specialty finance company, from 2000 through September 2001, and Xceed, Inc., a publicly held Internet consulting firm, from 1999 to 2000. From 1994 to 1999, Mr. Gandolfo was Chief Financial Officer and Chief Operating Officer of Impath, Inc., a publicly held, cancer-focused healthcare information company. From 1987 through 1994, he was Chief Financial Officer of Medical Resources, Inc., a publicly held manager of diagnostic imaging centers throughout the United States.  A graduate of Rutgers University, Mr. Gandolfo is a certified public accountant (inactive status) who began his professional career at Price Waterhouse. 

 

Darrel L. Holmes, Chief Operating Officer, Mr. Holmes has over 25 years of experience in the medical device, biologics, and diagnostic industries. He previously served as Operations Executive for American Qualex, HYCOR Biomedical and Stratagene, and as Executive Vice President and COO of Big Spring Water Company. Since joining Bacterin International, Inc. in 2003, Mr. Holmes has assumed responsibilities for all aspects of medical device and biologic product design and development, process scale-up, and production.  He is also responsible for the establishment and maintenance of an FDA CFR Title 21 Part 820 and 1271-compliant quality system. Mr. Holmes has worked with numerous regulatory agencies at the federal, state, and local level and coordinates Bacterin’s ISO 13485 compliance and environmental health and safety programs.  He is the primary regulatory interface for Bacterin’s operations and he oversees production, facility management, engineering and information technology (IT) to produce Bacterin’s medical devices and biologic products, and to accommodate business growth.  He directs the design, purchase, validation and implementation of capital assets and facility expansions for the company, and is responsible for strategic planning as well as the development and administration of division-level budgets. Currently, Mr. Holmes serves as the Tissue Bank Director and on Bacterin’s Medical Advisory Committee, as a member of Montana State University’s Employer Advisory Board, and as a Scientific Advisory Board Member for Montana Molecular in Bozeman, Montana. Mr. Holmes graduated from California State University at Long Beach with a degree in Biological Science.

 

Nicholas Navarro, National Sales Manager, has nine years of sales and management experience in the orthopedic industry. As the National Sales Manager, Mr. Navarro is responsible for managing Bacterin’s hybrid distribution force by supporting product sales for all Bacterin divisions. Prior to being promoted to this position in February 2012, Mr. Navarro served in various roles at Bacterin, starting as a Direct Representative, advancing to a Regional Sales Manager, and relocating to headquarters to serve as Vice President of Devices. Mr. Navarro’s previous experience includes sales roles with Johnson and Johnson, specializing in wound and infection management, and at Wright Medical as a Foot and Ankle Hardware Specialist. Mr. Navarro has a Psychology degree from the University of Iowa and a minor in Business. Mr. Navarro also contributes time and efforts to support Miracle Feet, which helps to correct club feet in developing countries.

 

46
 

 

Greg Juda, Chief Scientific Officer, joined Bacterin in 2005 and has played an integral role in the growth of Bacterin’s orthobiologics business.  During his time with the company, Dr. Juda has been responsible for guiding the development, commercialization, and marketing of three revolutionary, life-enhancing allograft products; Bacterin's OsteoSponge® allograft family, OsteoSelect® Demineralized Bone Matrix Putty, and hMatrix® Acellular Dermal Matrix. Dr. Juda is an expert in the design, manufacturing, regulation, and marketing of biologics and biologic based medical devices.  He was responsible for directing equipment, facility, and process validation efforts for Bacterin’s state-of-the-art allograft tissue processing facility.  These efforts included the design and validation of programs for tissue processing and decontamination, facility cleaning and monitoring, and sterilization of finished product.  Currently, Dr. Juda directs research and development efforts for Bacterin’s orthobiologic product lines and serves as the primary source of technical expertise for Bacterin’s direct and indirect sales initiatives.  Dr. Juda received a Bachelor of Science in Biochemistry from Virginia Polytechnic Institute and State University and a Doctorate of Philosophy in Biochemistry from Montana State University-Bozeman.

 

Scientific Advisory Board

 

Our Scientific Advisory Board assists us with issues relating to our coating and biologic technologies.  As our needs evolve, members with required areas of interest and expertise are added. Members of our Scientific Advisory Board are compensated in cash or shares of common stock under our equity incentive plan.

 

Board Composition and Terms of Office

 

The composition of our board of directors, audit committee, compensation committee, and nominations and governance committee, is subject to the corporate governance provisions of the NYSE MKT, including rules relating to the independence of directors.  All of our board committee members are independent directors.  All directors hold office until the next annual meeting of stockholders and the election and qualification of their successors.  Officers are elected by, and serve at the discretion of, the board of directors.

 

Board Committees

 

We have established an audit committee, compensation committee and nominations and corporate governance committee, in compliance with applicable corporate governance requirements.

 

Audit Committee

 

The purpose of the Audit Committee is to assist the oversight of our Board of Directors of the integrity of the financial statements of our company, our company’s compliance with legal and regulatory matters, the independent auditor’s qualifications and independence, and the performance of our company’s independent auditor and internal audit function. The primary responsibilities of the Audit Committee are set forth in its charter and include various matters with respect to the oversight of our company’s accounting and financial reporting process and audits of the financial statements of our company. The Audit Committee also selects the independent auditor to conduct the annual audit of the financial statements of our company; reviews the proposed scope of such audit; reviews accounting and financial controls of our company with the independent auditor and our financial accounting staff; and reviews and approves transactions between us and our directors, officers, and their affiliates.

 

The Audit Committee currently consists of Messrs. Lopach, Swanson and Wickwire, each an independent director of our company under NYSE MKT listing standards as well as under rules adopted by the SEC pursuant to the Sarbanes-Oxley Act of 2002. Mr. Lopach serves as the Chairman of the Audit Committee. The Board of Directors has determined that Messrs. Lopach and Swanson (whose backgrounds are detailed above) each qualify as an “audit committee financial expert” in accordance with applicable rules and regulations of the SEC.

 

Compensation Committee

 

The primary purposes of the Compensation Committee are to determine or recommend the compensation of our CEO and other executive officers, and to oversee our Equity Incentive Plan. Our Compensation Committee currently consists of Kent Swanson and Michael Lopach, each of whom is an independent director. Mr. Swanson serves as the Chairman of the Compensation Committee.

 

Nominations and Corporate Governance Committee

 

The purposes of the Nominations and Corporate Governance Committee include the selection or recommendation to our Board of Directors of nominees to stand for election as directors at each election of directors, the oversight of the selection and composition of committees of our Board of Directors, the oversight of the evaluations of our Board of Directors and management, and the development and recommendation to our Board of Directors of a set of corporate governance principles applicable to our company. The Nominations and Corporate Governance Committee currently consists of Messrs. Wickwire and Swanson, each of whom is an independent director of our company under NYSE MKT listing standards as well as under rules adopted by the SEC pursuant to Sarbanes-Oxley. Mr. Wickwire serves as the Chairman of the Nominations and Corporate Governance Committee.

 

47
 

 

Nominations to the Board of Directors

 

Our directors take a critical role in guiding our strategic direction and overseeing the management of our company.  Board candidates are considered based upon various criteria, such as their broad-based business and professional skills and experiences, a global business and social perspective, concern for the long-term interests of the stockholders, diversity, personal integrity and judgment.

 

In addition, directors must have time available to devote to board activities and to enhance their knowledge in the growing business.  Accordingly, we seek to attract and retain highly qualified directors who have sufficient time to attend to their substantial duties and responsibilities.

 

Family Relationships

 

There are no family relationships among our new directors and executive officers and any former or proposed directors or executive officers.

 

Legal Proceedings

 

During the past ten years, none of our directors or executive officers has been:

 

  o the subject of any bankruptcy petition filed by or against any business of which such person was a general partner or executive officer either at the time of the bankruptcy or within two years prior to that time;

 

  o convicted in a criminal proceeding or is subject to a pending criminal proceeding (excluding traffic violations and other minor offenses);

 

  o subject to any order, judgment or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction, permanently or temporarily enjoining, barring, suspending or otherwise limiting his involvement in any type of business, securities or banking activities;

 

  o found by a court of competent jurisdiction (in a civil action), the SEC or the Commodity Futures Trading Commission to have violated a federal or state securities or commodities law, that has not been reversed, suspended, or vacated;

 

  o subject of, or a party to, any order, judgment, decree or finding, not subsequently reversed, suspended or vacated, relating to an alleged violation of a federal or state securities or commodities law or regulation, law or regulation respecting financial institutions or insurance companies, law or regulation prohibiting mail or wire fraud or fraud in connection with any business entity; or

 

  o subject of, or a party to, any sanction or order, not subsequently reversed, suspended or vacated, of any self-regulatory organization, any registered entity or any equivalent exchange, association, entity or organization that has disciplinary authority over its members or persons associated with a member.

 

None of our directors, officers or affiliates, or any beneficial owner of 5% or more of our common stock, or any associate of such persons, is an adverse party in any material proceeding to, or has a material interest adverse to, us or any of our subsidiaries.

 

Compliance with Section 16(a) of the Exchange Act

 

Section 16(a) requires directors, executive officers and holders of more than 10% of an equity security registered pursuant to Section 12 of the Exchange Act of 1934 to file various reports with the SEC.

 

To the Company’s knowledge, based solely on our review of the Section 16 reports furnished to us in 2012, we believe all reports required pursuant to Section 16(a) were filed on a timely basis except for the following: Guy Cook, John Gandolfo, Darrel Holmes and Nick Navarro filed one Form 4 four days late due to administrative oversight.

 

Code of Ethics

 

We have adopted a Code of Conduct and a Code of Ethics for our CEO and Senior Financial Officers, both of which are posted on our website at www.bacterin.com.  The contents of our website are not incorporated by reference into this annual report on Form 10-K.

 

Procedures for Shareholder Recommendation of Nominees to the Board of Directors

 

The procedures by which shareholders may recommend nominees to the Board of Directors are contained in our Bylaws.

 

48
 

 

Item 11.           Executive Compensation

 

The table below summarizes the compensation earned for services rendered to the Company for the fiscal years indicated, by its Chief Executive Officer and two most highly-compensated officers other than the Chief Executive Officer.

 

                           Change in         
                           Pension Value         
                           and         
                       Non-Equity   Nonqualified         
                       Incentive   Deferred         
               Stock   Option   Plan   Compensation   All Other     
Name and Principal Position  Year   Salary   Bonus   Awards   Awards(1)   Compensation   Earnings   Compensation   Total 
Guy S. Cook   2012   $500,000   $100,000   $-   $138,180   $-   $-   $-   $738,180 
Chief Executive Officer   2011    500,000    50,000-    -    -    -    -    -    550,000 
                                              
John Gandolfo   2012    299,947    50,000         96,726    -    -    -    446,673 
Chief Financial Officer   2011    290,000    35,000-    -    -    -    -    -    325,000 
                                              
Nick Navarro   2012    233,077              261,005              13,344 (2)    507,426 
National Sales Manager   2011    177,739    50,000                        59,745 (2)    287,484 

 

 

 

(1) Key assumptions used to estimate the grant date fair value of option awards are contained in Note 9 to the financial statements in Item 8 of this Annual Report on Form 10-K.

 

(2) Commission

 

Employment Agreements

 

Employment agreements for our current executive officers are set forth as exhibits to this Form 10-K.  The employment agreements require each of the executives to perform such duties as are customarily performed by one holding their positions and provide for a fixed annual base salary.  In addition, each executive is entitled to receive certain cash bonuses and grants under our equity incentive plan as may be determined by the compensation committee of our board of directors. 

 

The employment agreements also contain covenants (a) restricting the executives from engaging in any activity competitive with our business, (b) prohibiting the executive from disclosing confidential information regarding our company, and (c) requiring that all intellectual property developed by the executive and relating to our business constitutes our sole and exclusive property.

 

Bacterin International Equity Incentive Plan

 

The following is a summary of the material terms of the Bacterin International Equity Incentive Plan:

 

The purpose of the incentive compensation plan is to enable us to attract, retain and motivate key employees, directors and independent consultants, by providing them with stock options and restricted stock grants. Stock options granted under the incentive compensation plan may be either incentive stock options to employees, as defined in Section 422A of the Internal Revenue Code of 1986, or non-qualified stock options.  The plan is administered by our compensation committee.  The administrator of the plan has the power to determine the terms of any stock options granted under the incentive plan, including the exercise price, the number of shares subject to the stock option and conditions of exercise.  Stock options granted under the incentive plan are generally not transferable, vest in installments and are exercisable during the lifetime of the optionee only by such optionee.  The exercise price of all incentive stock options granted under the plan must be at least equal to the fair market value of the shares of common stock on the date of the grant. 

 

There are 9,000,000 shares of our common stock authorized to be issued under the plan.  As of December 31, 2012, we had outstanding options to purchase 5,266,535 shares granted and 733,900 shares of restricted stock issued, to directors, executives, employees and consultants, leaving approximately 1,559,898 shares available for issuance thereunder. 

 

Except for the Equity Incentive Plan discussed above, we have not had a stock option plan or other similar incentive compensation plan for officers, directors and employees.

 

49
 

 

Outstanding Equity Awards at Fiscal Year-End (December 31, 2012)

 

       Option Awards        
   Number of Securities Underlying
Unexercised Options		   Equity Incentive
Plan Awards:
Number of
Securities
Underlying
Unexercised
Unearned		   Option
Exercise		   Option
Expiration
Name  Exercisable   Unexercisable   Options   Price   Date
Guy Cook   -    -    100,000   $2.36   3/27/22
John Gandolfo   100,000    -    150,000   $1.60   6/3/20
              70,000   $2.36   3/27/22
Nick Navarro   24,000    -    36,000   $1.60   4/1/20
    12,000    -    48,000   $2.36   3/27/22
    50,000    -    150,000   $1.48   5/8/22

 

Potential Payments Upon Termination or Change-in-Control

 

SEC regulations state that we must disclose information regarding agreements, plans or arrangements that provide for payments or benefits to our named executive officers in connection with any termination of employment or change in control of the company.  Except for Mr. Gandolfo’s employment agreement described below, we currently have no employment agreements with any of our named executive officers  which have payments upon termination or change in control, nor any compensatory plans or arrangements that provide for any payments or benefits upon the resignation, retirement or any other termination of any of our named executive officers, as the result of a change in control, or from a change in any named executive officer’s responsibilities following a change in control.

 

Pursuant to the terms of Mr. Gandolfo’s employment agreement, if Mr. Gandolfo’s employment with our company is terminated by us in connection with a “Change of “Control” (as defined therein), Mr. Gandolfo shall be eligible to receive 12 months’ salary as severance, if he has delivered to us a complete release of any claims against us in form and substance reasonably satisfactory to us and if Mr. Gandolfo has not breached any section of his employment agreement.  Mr. Gandolfo’s current salary is $300,000 per year.  The severance payments payable to Mr. Gandolfo will be paid biweekly through automatic deposits; provided that the initial payment of any severance hereunder shall begin on the eighth day after Mr. Gandolfo has signed the aforementioned release.  A “Change of Control” is defined in Mr. Gandolfo’s employment agreement to consist of either Guy Cook no longer serving as the Chief Executive Officer or a sale of all or substantially all of the assets of the Company.

 

Retirement Plans

 

The Company has a 401(k) plan available to all full-time employees following a six month probationary period. The Company matches up to 2% of employee contributions at the end of the year.

 

Director Compensation  

 

Name  

Fees Earned

or Paid in

Cash  (1)

     Stock
Awards		    

Option

Awards (2)

     Non-Equity
Incentive Plan
Compensation		     Change in
Pension Value
and
Nonqualified
Deferred
Compensation
Earnings		     All Other
Compensation		     Total  
Mitch Godfrey (3)   $ -     $ -     $ -       -       -     $ 95,000     $ -  
Kent Swanson   $ 50,000     $ -       36,564       -       -       -     $ 86,564  
Michael Lopach   $ 50,000     $ -       25,917       -       -       -     $ 75,917  
Jon Wickwire   $ 50,000     $ -       25,917       -       -       -     $ 75,917  
John Deedrick(4)   $ 10,000     $         54,775                             $ 64,775  

 

 

  

  (1) Our independent Board members receive an annual retainer of $40,000 per year, and our Committee Chairs receive an additional $10,000 per year.  

 

  (2) New independent Board members receive options to purchase 50,000 shares of our common stock, vesting after one year, with an exercise price equal to the closing price of our common stock on the date of grant.  Following the first year of service, independent Board members receive an annual continued service grant of options to purchase 30,000 shares with an exercise price equal to the closing price of our common stock on the date of grant.  Key assumptions used to estimate the grant date fair value of option awards are contained in Note 9 to the financial statements in Item 8 of this Annual Report on Form 10-K.

 

  (3) Mitchell Godfrey serves as a consultant to the Company and all compensation paid to Mr. Godfrey was in payment for his services as a consultant. Mr. Godfrey does not receive any director fees or options for his service as a director.

 

  (4) Mr. Deedrick joined the Board in September 2012.

 

50
 

 

Compensation Committee Interlocks and Insider Participation

 

No interlocking relationship exists between our board of directors and the board of directors or compensation committee of any other company, nor has any interlocking relationship existed in the past.

 

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

  

The following table sets forth information regarding the beneficial ownership of our common stock as of December 31, 2012, by (a) each of our directors and executive officers, (b) all of our directors and executive officers as a group, and (c) each person who is known by us to beneficially own 5% or more of our common stock.

 

Name  (1)  Number of
Shares
Beneficially
Owned  (2)		   Percentage of
Shares Beneficially
Owned  (3)		   
           
Name of Beneficial Owner:            
Guy S. Cook   12,097,000(4)   28.36%  
Mitchell Godfrey   1,062,133(5)   2.49%  
Kent Swanson   599,842(6)   1.41%  
Michael Lopach   181,185(7)    *  
Jon Wickwire   503,764(8)   1.18%  
John Deedrick   -     *  
John P. Gandolfo   113,920(9)    *  
Darrel Holmes   119,999(10)    *  
Nick Navarro   116,000(11)    *  
Greg Juda   37,915(12)   _____*  
All executive officers and directors as a group (10 persons)   14,831,758    34.78%  

 

 

 

* Less than 1% of outstanding shares of common stock.

 

(1) The address of each person is c/o Bacterin International, Inc., 664 Cruiser Lane, Belgrade Montana 59714.

 

(2) Unless otherwise indicated, includes shares owned by a spouse, minor children and relatives sharing the same home, as well as entities owned or controlled by the named person. Also includes shares if the named person has the right to acquire those shares within 60 days after December 31, 2012, by the exercise or conversion of any warrant, stock option or convertible preferred stock. Unless otherwise noted, shares are owned of record and beneficially by the named person.

 

(3) The calculation in this column is based upon 42,649,964 shares of common stock outstanding on December 31, 2012. The shares of common stock underlying warrants and stock options are deemed outstanding for purposes of computing the percentage of the person holding them, but are not deemed outstanding for the purpose of computing the percentage of any other person.

 

(4) Includes (a) 5,937,588 shares of our common stock held directly, (b) 6,000,000 shares of our common stock held by trusts for the benefit of Mr. Cook’s children, (c) warrants to purchase 134,412 shares of our common stock, and (d) vested options to purchase 25,000 shares of our common stock held by Mr. Cook’s spouse.  Mr. Cook pledged 850,000 shares of his common stock to First Security Bank as collateral for a loan to a distributor of Bacterin products owned and operated by two of Mr. Cook’s adult children, and Mr. Cook has the right to the return of 1,000,000 shares of previously transferred common stock upon repayment of a loan to Equities First Holdings, LLC.

 

(5) Includes (a) 711,467 shares of our common stock, (b) 50,666 shares of common stock owned by Mr. Godfrey’s spouse, and (c) vested options to purchase 300,000 shares of our common stock.

 

(6) Includes (a) 250,000 shares of our common stock held directly, (b) 200,000 shares held by a family limited partnership, (c) warrants to purchase 89,842 shares of our common stock, and (d) options to purchase 60,000 shares of our common stock.

 

(7) Includes (a) 16,949 shares of our common stock held directly, (b) 33,898 shares held by a 401(k) plan, (c) warrants to purchase 20,338 shares, and (d) options to purchase 110,000 shares.

 

(8) Includes (a) 105,509 shares of our common stock, (b) 257,630 shares of common stock held by trusts, (c) warrants to purchase 30,625 shares of common stock, and (d) options to purchase 110,000 shares of our common stock.

 

(9) Includes (a) 9,943 shares of our common stock held by an IRA, (b) warrants to purchase 3,977 shares of our common stock, and (c) vested options to purchase 100,000 shares of our common stock.

 

51
 

 

(10) Includes vested options to purchase 119,999 shares of our common stock.

 

(11) Includes vested options to purchase 116,000 shares of our common stock.

 

(12) Includes vested options to purchase 37,915 shares of our common stock

 

Item 13. Certain Relationships and Related Transactions, and Director Independence

 

Transactions with Related Persons, Promoters and Certain Control Persons

 

Guy Cook, our President and Chief Executive Officer, serves as a board member of West Coast Tissue Services (“WCTS”) and formerly served as a director for American Donor Services (“ADS”). Mr. Cook has not received any compensation for his board service for either entity. Mitchell Godfrey, a director, is on the board of ADS and also serves as secretary and treasurer for ADS. Mr. Godfrey received $5,000 for his service to ADS in 2012 and no compensation from ADS in 2011. Mr. Cook’s spouse performed bookkeeping and accounting services for ADS in 2011, but she received no compensation for her services. ADS and WCTS recover tissue from donors.  We reimburse them for their recovery fees, which are comprised primarily of labor costs. The approximate aggregate amount of all transactions with WCTS was $510,500 for 2011 and $525,900 for 2012, and the approximate aggregate amount of all transactions with ADS was $1,765,908 for 2011 and $1,472,949 for 2012. These relationships benefit us, and thus Mssrs. Cook and Godfrey, as these entities provide us with donors, thus insuring that we have a pipeline of current and future donors, which is necessary to our success.

 

Mr. Cook’s spouse is employed by Bacterin as the Director of Human Resources, and Mr. Cook’s adult children own and operate a distributor of Bacterin products, which were purchased from a non-affiliated distributor, with payment made to Bacterin for amounts owed by the non-affiliated distributor. The affiliated distributor, Silver Forest Fund, LP, exchanged products initially purchased from the non-affiliated distributor for different Bacterin products of equivalent value. Other than product exchanges and payment of amounts owed by the non-affiliated distributor, there have been no other direct transactions between Bacterin and the affiliated distributor. Mr. Cook pledged 1,850,000 shares of Bacterin stock as collateral for loans made for the benefit of the affiliated distributor.

 

Unless delegated to the Compensation Committee by the Board of Directors, the Audit Committee or the disinterested members of the full Board of Directors reviews and approves all related party transactions.

 

Director Independence

 

The following board members are independent directors, as defined under the independence standards of the NYSE MKT LLC:  Kent Swanson, Michael Lopach, Jon Wickwire and John Deedrick.  All of our board committees are comprised solely of independent directors, and the composition of our board committees is described in Item 10 of this Form 10-K. 

 

Item 14.           Principal Accountant Fees and Services

 

EKS&H LLLP (“EKS&H”) served as the independent registered public accounting firm to audit our books and accounts for the fiscal years ending December 31, 2012 and December 31, 2011. The following table presents the aggregate fees billed for professional services rendered by EKS&H for the years ended December 31, 2012 and December 31, 2011.

  

   2012   2011 
Audit fees  $122,500   $144,000 
Audit-related fees   7,287    43,000 
Tax fees   -    - 
All other fees   -    - 

  

In the above table, “audit fees” are fees billed for services provided related to the audit of our annual financial statements, quarterly reviews of our interim financial statements and services normally provided by the independent accountant in connection with statutory and regulatory filings or engagements for those fiscal periods. “Audit-related fees” are fees not included in audit fees that are billed by the independent accountant for assurance and related services that are reasonably related to the performance of the audit or review of our financial statements. “Tax fees” are fees billed by the independent accountant for professional services rendered for tax compliance, tax advice and tax planning. “All other fees” are fees billed by the independent accountant for products and services not included in the foregoing categories.

 

52
 

 

Audit Committee’s Pre-Approval Policy

 

It is the Audit Committee’s policy to approve in advance the types and amounts of audit, audit-related, tax and any other services to be provided by our independent accountants. In situations where it is not possible to obtain full Audit Committee approval, the Audit Committee has delegated authority to the Chairman of the Audit Committee to grant pre-approval of auditing, audit-related, tax and all other services. Any pre-approved decisions by the Chairman are required to be reviewed with the Audit Committee at its next scheduled meeting.

 

The Audit Committee approved 100% of the services provided by EKS&H.

 

PART IV

 

Item 15.             Exhibits and Financial Statement Schedules

  

The following documents are filed as part of or are included in this Annual Report on Form 10-K:

 

1. Financial statements included in Item 8 of this Annual Report; and

 

2. Exhibits listed in the Exhibit Index filed as part of this Annual Report.

 

53
 

  

SIGNATURES

 

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

 

  BACTERIN INTERNATIONAL HOLDINGS, INC .
     
  By:  /s/ Guy S. Cook
  Name: Guy S. Cook
  Title: Chief Executive Officer
  Date: March 27, 2013

 

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities indicated on March 27, 2013.

 

Signature   Title
   
/s/ Guy S. Cook   Chief Executive Officer, President and Chairman of the Board of Directors (Principal Executive Officer)
Guy S. Cook
   
/s/ John Gandolfo   Chief Financial Officer (Principal Financial Officer and Principal Accounting Officer)
John Gandolfo
   
/s/ Kent Swanson   Director
Kent Swanson
   
/s/ Mitchell Godfrey   Director
Mitchell Godfrey
   
/s/ Michael Lopach   Director
Michael Lopach
     
/s/ Jon Wickwire   Director
Jon Wickwire
     
/s/ John Deedrick    
John Deedrick   Director

 

54
 

 

 Exhibit Index

 

Exhibit

No.

   Description
2.1   Agreement and Plan of Merger, dated as of June 30, 2010, by and among K-Kitz, Inc., KB Merger Sub, Inc. and Bacterin International, Inc. (1)
3.1   Restated Certificate of Incorporation (5)
3.2   Amended and Restated Bylaws (3)

4.1

4.2

  

Form of Warrant to Purchase Common Stock (1)

Form of Common Stock Certificate (6)

10.1   Form of Indemnification Agreement for the officers and directors of Bacterin International Holdings, Inc. and Bacterin International, Inc. (2)
10.2   Amended and Restated Bacterin International Equity Incentive Plan (7)
10.3   Form of Stock Option Agreement(14) •
10.4   Guy Cook Employment Agreement (2) •
10.5   First Amendment to Employment Agreement with Guy Cook(15) •
10.6   Mitchell Godfrey Consulting Agreement(11) •
10.7   John Gandolfo Employment Agreement (2) •
10.8   Nicholas Navarro Employment Agreement(11) •
10.9   Darrel Holmes Employment Agreement (2) •
10.10   Greg Juda Employment Agreement(14) •
10.11   Loan and Security Agreement dated as of January 14, 2011 between Bacterin International, Inc. and Bacterin International Holdings, Inc. and Bridge Bank, National Association (4)
10.12   Purchase Agreement, dated as of May 27, 2011, by and between the Company and Lincoln Park Capital Fund, LLC (8)
10.13   Notice of Termination of Purchase Agreement with Lincoln Park Capital Fund, LLC(13)
10.14   Registration Rights Agreement, dated as of May 27, 2011, by and between the Company and Lincoln Park Capital Fund, LLC (8)
10.15   Asset Purchase Agreement between the Company and Robinson MedSurg, LLC (9)
10.16   Loan and Security Agreement dated July 29, 2011 by and between the Company and MidCap Funding III, LLC (10)
10.17   First Loan Modification Agreement dated April 23, 2012 by and among the Company and MidCap Funding III, LLC, as administrative agent and a lender, and Silicon Valley Bank, as a lender(12)
10.18   Credit and Security Agreement dated April 23, 2012 by and among the Company and MidCap Financial, LLC, as administrative agent and a lender, and Silicon Valley Bank, as a lender(12)
10.19   Credit Agreement dated August 24, 2012 by and between Bacterin and ROS Acquisition Offshore LP(16)
10.20   Royalty Agreement dated August 24, 2012 by and between Bacterin and ROS Acquisition Offshore LP(16)
14.1   Code of Conduct (4)
14.2   Code of Ethics for the CEO and Senior Financial Officials (4)
21.1   Subsidiaries of the Registrant (2)
23.1*   Consent of Independent Accounting Firm, EKS&H LLLP
24.1   Power of Attorney (included in the signature page of this Annual Report on Form 10-K)
31.1*   Rule 13a-14(a)/15d-14(a) Certification of Chief Executive Officer
31.2*   Rule 13a-14(a)/15d-14(a) Certification of Chief Financial Officer
32.1*   Section 1350 Certification of Chief Executive Officer

32.2*

  

Section 1350 Certification of Chief Financial Officer

101.INS**   XBRL INSTANCE DOCUMENT
101.SCH**   XBRL TAXONOMY EXTENSION SCHEMA
101.CAL**   XBRL TAXONOMY EXTENSION CALCULATION LINKBASE
101.DEF**   XBRL TAXONOMY EXTENSION DEFINITION LINKBASE
101.LAB**   XBRL TAXONOMY EXTENSION LABEL LINKBASE
101.PRE**   XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE

 

 

 

• Compensation Agreement
* Filed herewith
** Furnished herewith

XBRL (eXtensible Business Reporting Language) information is furnished and not filed as part of any registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these Sections.

  

55
 

 

  (1) Incorporated herein by reference to the Registrant’s Form 8-K filed with the SEC on June 30, 2010.

 

  (2) Incorporated herein by reference to the Registrant’s Form 8-K filed with the SEC on July 7, 2010.

 

  (3) Incorporated by reference to the Registrant’s Form 8-K filed with the SEC on January 12, 2011.

 

  (4) Incorporated by reference to the Registrant’s Form 8-K filed with the SEC on January 21, 2011.

 

  (5) Incorporated by reference to the Registrant’s Form 10-Q filed with the SEC on November 14, 2011.

 

  (6) Incorporated by reference to the Registrant’s Form S-3 Registration Statement filed with the SEC on July 11, 2011.

 

  (7) Incorporated by reference to Appendix B of the Registrant’s Proxy Statement filed with the SEC on June 8, 2011.

 

  (8) Incorporated by reference to the Registrant’s Form 8-K filed with the SEC on May 31, 2011.

 

  (9) Incorporated by reference to the Registrant’s Form 8-K filed with the SEC on July 14, 2011.

 

  (10) Incorporated by reference to the Registrant’s Form 8-K filed with the SEC on August 1, 2011.
     
  (11) Incorporated by reference to the Registrant’s Form 10-K filed with the SEC on March 29, 2012.
     
  (12) Incorporated by reference to the Registrant’s Form 8-K filed with the SEC on April 24, 2012
     
  (13) Incorporated by reference to the Registrant’s Form 8-K filed with the SEC on May 3, 2012
     
  (14) Incorporated by reference to the Registrant’s Form 10-Q filed with the SEC on May 4, 2012
     
  (15) Incorporated by reference to the Registrant’s Form 10-Q filed with the Sec on August 10, 2012
     
  (16) Incorporated by reference to the Registrant’s Form 8-K filed with the SEC on August 28, 2012

 

56

  

 EX-23.1 2 v337332_ex23-1.htm EXHIBIT 23.1

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

 

We consent to the reference to our firm under the caption “Experts” in Registration Statement No. 333-175469 on Form S-3 and to the incorporation by reference therein and in Registration Statement No. 333-172891 on Form S-8 of Bacterin International Holdings, Inc. of our report dated March 27, 2013 appearing in this Annual Report on Form 10-K of Bacterin International Holdings, Inc. for the year ended December 31, 2012.

  

/s/ EKS&H LLLP

 

March 27, 2013

Denver, Colorado

 

 

 EX-31.1 3 v337332_ex31-1.htm EXHIBIT 31.1

 

Exhibit 31.1

 

Certification of Chief Executive Officer

 

I, Guy Cook, certify that:

 

1.             I have reviewed this Annual Report on Form 10-K of Bacterin International Holdings, Inc.;

 

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 statements for external purposes in accordance with generally accepted accounting standards;

 

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.

                                    

Date: March 27, 2013 By:  /s/  Guy Cook  
    Guy Cook  
    Chief Executive Officer  

 

 

 

 EX-31.2 4 v337332_ex31-2.htm EXHIBIT 31.2

 

Exhibit 31.2

 

Certification of Chief Financial Officer

 

I, John P. Gandolfo, certify that:

 

1.             I have reviewed this Annual Report on Form 10-K of Bacterin International Holdings, Inc.;

 

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 statements for external purposes in accordance with generally accepted accounting standards;

 

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.

 

Date: March 27, 2013 By: /s/  John P. Gandolfo  
    John P. Gandolfo  
    Chief Financial Officer  

 

 

 

 EX-32.1 5 v337332_ex32-1.htm EXHIBIT 32.1

 

Exhibit 32.1

 

Section 1350 Certification of Chief Executive Officer

 

In connection with the Annual Report on Form 10-K of Bacterin International Holdings, Inc. (the "Company") for the annual period ended December 31, 2012 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Guy Cook, Chief Executive Officer of the Company, certify, to the best of my knowledge and belief, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that:

 

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m(a) or 78o(d)); and

 

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

 

/s/ Guy Cook  
Guy Cook  
Chief Executive Officer  
March 27, 2013  

 

 

  

 EX-32.2 6 v337332_ex32-2.htm EXHIBIT 32.2

 

Exhibit 32.2

 

Section 1350   Certification of Chief Financial Officer

 

In connection with the Annual Report on Form 10-K of Bacterin International Holdings, Inc. (the "Company") for the annual period ended December 31, 2012 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, John P. Gandolfo, Chief Financial Officer of the Company, certify, to the best of my knowledge and belief, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that:

 

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m(a) or 78o(d)); and

 

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

 

/s/ John P. Gandolfo  
John P. Gandolfo  
Chief Financial Officer  
March 27, 2013  

 

 
 EX-101.INS 7 bone-20121231.xml XBRL INSTANCE DOCUMENT 0001453593 2010-12-31 0001453593 bone:DebtFinancingMember 2010-12-31 0001453593 us-gaap:CommonStockMember 2010-12-31 0001453593 us-gaap:AdditionalPaidInCapitalMember 2010-12-31 0001453593 us-gaap:RetainedEarningsMember 2010-12-31 0001453593 us-gaap:BridgeLoanMember 2010-12-31 0001453593 bone:LincolnParkCapitalFundLlcMember 2011-03-31 0001453593 bone:LincolnParkCapitalFundLlcMember bone:PurchaseAgreementAndRegistrationRightsAgreementMember 2011-05-27 0001453593 bone:LincolnParkCapitalFundLlcMember bone:PurchaseAgreementAndRegistrationRightsAgreementMember 2011-05-01 2011-05-27 0001453593 us-gaap:PrivatePlacementMember 2011-04-01 2011-06-30 0001453593 us-gaap:PrivatePlacementMember 2011-01-01 2011-06-30 0001453593 us-gaap:PrivatePlacementMember 2011-06-30 0001453593 us-gaap:MinimumMember us-gaap:PrivatePlacementMember 2011-06-30 0001453593 us-gaap:MaximumMember us-gaap:PrivatePlacementMember 2011-06-30 0001453593 bone:MidcapAndSvbMember 2011-07-29 0001453593 bone:MidcapAndSiliconValleyBankMember 2011-07-29 0001453593 bone:MidcapAndSvbMember 2011-07-28 2011-07-29 0001453593 2011-01-01 2011-12-31 0001453593 us-gaap:CommonStockMember 2011-01-01 2011-12-31 0001453593 us-gaap:AdditionalPaidInCapitalMember 2011-01-01 2011-12-31 0001453593 us-gaap:RetainedEarningsMember 2011-01-01 2011-12-31 0001453593 us-gaap:PrivatePlacementMember 2011-01-01 2011-12-31 0001453593 us-gaap:AdditionalPaidInCapitalMember us-gaap:PrivatePlacementMember 2011-01-01 2011-12-31 0001453593 us-gaap:DomesticCountryMember 2011-01-01 2011-12-31 0001453593 bone:UnitedStatesMember 2011-01-01 2011-12-31 0001453593 us-gaap:RestrictedStockMember 2011-01-01 2011-12-31 0001453593 bone:RestOfWorldMember 2011-01-01 2011-12-31 0001453593 us-gaap:CustomerConcentrationRiskMember 2011-01-01 2011-12-31 0001453593 us-gaap:CommonStockMember us-gaap:PrivatePlacementMember 2011-01-01 2011-12-31 0001453593 bone:AmericanDonorServicesMember 2011-01-01 2011-12-31 0001453593 bone:WestCoastTissueServicesMember 2011-01-01 2011-12-31 0001453593 bone:StockGrantsMember us-gaap:CommonStockMember 2011-01-01 2011-12-31 0001453593 bone:StockGrantsMember us-gaap:AdditionalPaidInCapitalMember 2011-01-01 2011-12-31 0001453593 bone:StockGrantsMember 2011-01-01 2011-12-31 0001453593 us-gaap:StockOptionsMember 2011-01-01 2011-12-31 0001453593 bone:StockGrantsMember us-gaap:RetainedEarningsMember 2011-01-01 2011-12-31 0001453593 us-gaap:RetainedEarningsMember us-gaap:PrivatePlacementMember 2011-01-01 2011-12-31 0001453593 bone:DebtDiscountsAndLoanOriginationFeesMember 2011-01-01 2011-12-31 0001453593 bone:WarrantDerivativeLiabilityMember 2011-01-01 2011-12-31 0001453593 2011-12-31 0001453593 us-gaap:CommonStockMember 2011-12-31 0001453593 us-gaap:AdditionalPaidInCapitalMember 2011-12-31 0001453593 us-gaap:RetainedEarningsMember 2011-12-31 0001453593 bone:MidcapAndSiliconValleyBankMember 2011-12-31 0001453593 us-gaap:CustomerConcentrationRiskMember 2011-12-31 0001453593 us-gaap:FairValueInputsLevel3Member 2011-12-31 0001453593 us-gaap:FairValueInputsLevel1Member 2011-12-31 0001453593 us-gaap:VehiclesMember 2011-12-31 0001453593 us-gaap:FurnitureAndFixturesMember 2011-12-31 0001453593 us-gaap:GeographicConcentrationRiskMember 2011-12-31 0001453593 us-gaap:FairValueInputsLevel2Member 2011-12-31 0001453593 us-gaap:BuildingMember 2011-12-31 0001453593 bone:ValleyBankOfBelgradeMember 2011-12-31 0001453593 us-gaap:LeaseholdImprovementsMember 2011-12-31 0001453593 us-gaap:ComputerEquipmentMember 2011-12-31 0001453593 us-gaap:SoftwareMember 2011-12-31 0001453593 us-gaap:EquipmentMember 2011-12-31 0001453593 bone:SiliconValleyBankMember 2011-12-31 0001453593 bone:RosAcquisitionOffshoreMember 2011-12-31 0001453593 bone:WarrantDerivativeLiabilityMember 2011-12-31 0001453593 bone:WarrantDerivativeLiabilitiesMember 2011-12-31 0001453593 bone:AcquisitionContingentConsiderationLiabilityMember 2011-12-31 0001453593 2012-01-01 2012-03-31 0001453593 bone:LincolnParkCapitalFundLlcMember 2012-03-31 0001453593 bone:MidcapAndSiliconValleyBankMember 2012-04-23 0001453593 bone:RosAcquisitionOffshoreMember 2012-04-24 0001453593 2012-06-30 0001453593 2012-07-23 0001453593 us-gaap:PrivatePlacementMember 2012-07-23 0001453593 us-gaap:PrivatePlacementMember 2012-07-01 2012-07-23 0001453593 bone:RosAcquisitionOffshoreMember 2012-08-01 2012-08-24 0001453593 bone:BrokerMember 2012-07-01 2012-09-30 0001453593 bone:BrokerMember 2012-09-30 0001453593 2012-01-01 2012-12-31 0001453593 us-gaap:CommonStockMember 2012-01-01 2012-12-31 0001453593 us-gaap:AdditionalPaidInCapitalMember 2012-01-01 2012-12-31 0001453593 us-gaap:RetainedEarningsMember 2012-01-01 2012-12-31 0001453593 us-gaap:PrivatePlacementMember 2012-01-01 2012-12-31 0001453593 bone:MidcapAndSiliconValleyBankMember 2012-01-01 2012-12-31 0001453593 us-gaap:AdditionalPaidInCapitalMember us-gaap:PrivatePlacementMember 2012-01-01 2012-12-31 0001453593 us-gaap:DomesticCountryMember 2012-01-01 2012-12-31 0001453593 bone:UnitedStatesMember 2012-01-01 2012-12-31 0001453593 us-gaap:RestrictedStockMember 2012-01-01 2012-12-31 0001453593 bone:RestOfWorldMember 2012-01-01 2012-12-31 0001453593 us-gaap:CustomerConcentrationRiskMember 2012-01-01 2012-12-31 0001453593 us-gaap:CommonStockMember us-gaap:PrivatePlacementMember 2012-01-01 2012-12-31 0001453593 bone:AmericanDonorServicesMember 2012-01-01 2012-12-31 0001453593 bone:WestCoastTissueServicesMember 2012-01-01 2012-12-31 0001453593 us-gaap:StockOptionsMember 2012-01-01 2012-12-31 0001453593 us-gaap:RetainedEarningsMember us-gaap:PrivatePlacementMember 2012-01-01 2012-12-31 0001453593 bone:DebtDiscountsAndLoanOriginationFeesMember 2012-01-01 2012-12-31 0001453593 bone:WarrantDerivativeLiabilityMember 2012-01-01 2012-12-31 0001453593 bone:WarrantDerivativeLiabilitiesMember 2012-01-01 2012-12-31 0001453593 bone:AcquisitionContingentConsiderationLiabilityMember 2012-01-01 2012-12-31 0001453593 bone:RosAcquisitionOffshoreMember 2012-01-01 2012-12-31 0001453593 us-gaap:BuildingMember 2012-01-01 2012-12-31 0001453593 bone:SiliconValleyBankMember 2012-01-01 2012-12-31 0001453593 bone:ValleyBankOfBelgradeMember 2012-01-01 2012-12-31 0001453593 us-gaap:CustomerListsMember 2012-01-01 2012-12-31 0001453593 bone:GrossRevenueEqualsOrExceedsOneMillionMember 2012-01-01 2012-12-31 0001453593 us-gaap:TrademarksMember 2012-01-01 2012-12-31 0001453593 bone:GrossRevenueEqualsOrExceedsTwoMillionMember 2012-01-01 2012-12-31 0001453593 bone:LincolnParkCapitalFundLlcMember 2012-01-01 2012-12-31 0001453593 bone:MsHowellMember 2012-01-01 2012-12-31 0001453593 bone:MrGodfreyMember 2012-01-01 2012-12-31 0001453593 bone:MrCookMember 2012-01-01 2012-12-31 0001453593 bone:PrepaymentPenaltiesMember 2012-01-01 2012-12-31 0001453593 2012-12-31 0001453593 us-gaap:CommonStockMember 2012-12-31 0001453593 us-gaap:AdditionalPaidInCapitalMember 2012-12-31 0001453593 us-gaap:RetainedEarningsMember 2012-12-31 0001453593 us-gaap:CustomerConcentrationRiskMember 2012-12-31 0001453593 bone:AmericanDonorServicesMember 2012-12-31 0001453593 us-gaap:StockOptionsMember 2012-12-31 0001453593 bone:MidcapAndSiliconValleyBankMember 2012-12-31 0001453593 us-gaap:FairValueInputsLevel3Member 2012-12-31 0001453593 us-gaap:FairValueInputsLevel1Member 2012-12-31 0001453593 us-gaap:VehiclesMember 2012-12-31 0001453593 us-gaap:FurnitureAndFixturesMember 2012-12-31 0001453593 us-gaap:GeographicConcentrationRiskMember 2012-12-31 0001453593 us-gaap:FairValueInputsLevel2Member 2012-12-31 0001453593 us-gaap:BuildingMember 2012-12-31 0001453593 bone:ValleyBankOfBelgradeMember 2012-12-31 0001453593 us-gaap:LeaseholdImprovementsMember 2012-12-31 0001453593 us-gaap:ComputerEquipmentMember 2012-12-31 0001453593 us-gaap:SoftwareMember 2012-12-31 0001453593 us-gaap:EquipmentMember 2012-12-31 0001453593 bone:SiliconValleyBankMember 2012-12-31 0001453593 bone:RosAcquisitionOffshoreMember 2012-12-31 0001453593 bone:WarrantDerivativeLiabilityMember 2012-12-31 0001453593 bone:WarrantDerivativeLiabilitiesMember 2012-12-31 0001453593 bone:AcquisitionContingentConsiderationLiabilityMember 2012-12-31 0001453593 bone:GrossRevenueEqualsOrExceedsOneMillionMember 2012-12-31 0001453593 bone:GrossRevenueEqualsOrExceedsTwoMillionMember 2012-12-31 0001453593 us-gaap:CustomerListsMember 2012-12-31 0001453593 us-gaap:TrademarksMember 2012-12-31 0001453593 bone:CustomerListsAndTrademarksMember 2012-12-31 0001453593 2013-03-05 0001453593 bone:WarrantDerivativeLiabilityMember 2010-12-31 xbrli:shares iso4217:USD iso4217:USDxbrli:shares xbrli:pure Bacterin International Holdings, Inc. 0001453593 --12-31 Smaller Reporting Company 42649964 bone 10-K false 2012-12-31 FY 2012 No No Yes 35147703 327481 751111 4926066 7083354 7154065 8479710 13141421 289326 353271 16603501 25574823 920542 1238225 3774140 5234867 656133 592378 728618 728618 486914 1126643 23169848 34495554 2654263 3997789 513193 418922 418922 3762211 2400090 2344516 2344516 0 0 984356 984356 0 0 33791 149729 0 698408 1632978 45135 10940952 8694429 89580 245703 0 6839935 6638270 14483102 17668802 30263169 0 0 40 43 45452732 51897890 -39951726 -47665548 -619244 37 36325976 -36945257 5501046 40 45452732 -39951726 4232385 43 51897890 -47665548 23169848 34495554 1232806 1576955 0.000001 0.000001 5000000 5000000 0 0 0 0 0.000001 0.000001 95000000 95000000 40841218 42877770 40841218 42877770 29657423 32414026 492059 565873 30149482 29571446 578036 32979899 31947757 1032142 9109250 10337303 21040232 22642596 6935101 11135058 18501204 15617416 379387 406888 1675008 427787 27490700 27587149 -6450468 -4944553 1162597 1864901 6377671 1360160 1300000 705885 -471075 -1558643 3443999 -2769269 -3006469 -7713822 0 0 0 0 -3006469 0 0 -3006469 -3006469 -7713822 0 0 -7713822 -7713822 -0.08 -0.18 -0.08 -0.18 38944256 42445386 38944256 42445386 36994715 40841218 42877770 1000002 3027504 2974619 2974618 1 0 548261 548261 0 0 3899996 3879746 3879744 2 0 326798 939377 939377 230499 1475037 1472537 1358460 1 1358459 0 0 0 0 0 977679 129972 563357 0 563357 0 2007467 0 2007467 0 1956055 1 1956054 0 538500 394668 1010564 1 1010563 0 46003 0 46003 0 775833 775833 39375 39375 227388 0 227388 0 1000000 0 1000000 0 384615 755387 782889 302465 502044 1307977 705885 795000 0 2555727 1554657 0 342485 0 196823 1425537 636704 0 -7902 6377671 1360160 0 358426 4636860 414860 181966 0 2365403 5271950 190550 1049458 334183 1249255 1920505 -602300 -7362138 -10792332 962306 1825614 82398 0 137411 11163 -1017319 -1836777 9579687 22741719 5115504 9784482 36182 78925 2974618 3879749 1010563 46003 389905 0 8803087 16804064 423630 4174955 <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">(1)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Business Description and Summary of Significant Accounting Policies</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>Business Description</b></p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">The accompanying consolidated financial statements include the accounts of Bacterin International Holdings, Inc., a Delaware corporation, and its wholly owned subsidiary, Bacterin International, Inc., a Nevada corporation, (collectively, the &#8220;Company&#8221; or &#8220;Bacterin&#8221;). All intercompany balances and transactions have been eliminated in consolidation. Bacterin&#8217;s biologics division develops, manufactures and markets biologics products to domestic and international markets.&#160;&#160;Bacterin&#8217;s proprietary methods are used in human allografts to create stem cell scaffolds and promote bone and other tissue growth.&#160;&#160;These products are used in a variety of applications including enhancing fusion in spine surgery, relief of back pain with a facet joint stabilization, promotion of bone growth in foot and ankle surgery, promotion of skull healing following neurosurgery and regeneration in knee and other joint surgeries.</p> <p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">Bacterin&#8217;s device division develops bioactive coatings based upon proprietary knowledge of the phenotypical changes made by microbes as they sense and adapt to changes in their environment. Bacterin develops, employs, and licenses bioactive coatings for various medical device applications.&#160;&#160;</p> <p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">An operating segment is a component of an enterprise whose operating results are regularly reviewed by the enterprise&#8217;s chief operating decision maker to make decisions about resources to be allocated to the segment and assess its performance. The primary performance measure used by management is net income or loss. The Company operates in two distinct lines of business consisting of the biologics and devices divisions. However, due to the immaterial revenue from devices to date, the Company reports as one segment.</p> <p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">The Company's revenue is derived principally from the sale or license of its medical products, coatings and device implants. The markets in which the Company competes are highly competitive and rapidly changing. Significant technological advances, changes in customer requirements, or the emergence of competitive products with new capabilities or technologies could adversely affect the Company's operating results. The Company's business could be harmed by a decline in demand for, or in the prices of, its products or as a result of, among other factors, any change in pricing or distribution model, increased price competition, changes in government regulations or a failure by the Company to keep up with technological change.&#160;&#160;Further, a decline in available tissue donors could have an adverse impact on the business.</p> <p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>&#160;</b></p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>Presentation</b></p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>&#160;</b></p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">Certain amounts in the 2011 consolidated financial statements have been reclassified to conform to the 2012 presentation.</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>Concentrations</b>&#160;<b>and Credit Risk</b></p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">The Company&#8217;s accounts receivable are due from a variety of health care organizations and distributors throughout the world. Approximately 97% and 98% of sales were in the United States for 2012 and 2011, respectively. One customer accounted for approximately 5% and 6% of the Company&#8217;s revenue for 2012 and 2011, respectively.&#160;&#160;One customer represented 22% and 21% of accounts receivable at December 31, 2012 and 2011, respectively. The Company provides for uncollectible amounts when specific credit issues arise. Management&#8217;s estimates for uncollectible amounts have been adequate during prior periods, and management believes that all significant credit risks have been identified at December 31, 2012.</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">Revenue by geographical region is as follows:</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <table style="width: 90%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td nowrap="nowrap">&#160;</td> <td style="padding-bottom: 1pt;" nowrap="nowrap">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center;" colspan="6" nowrap="nowrap">Year ended <br />December 31,</td> <td style="padding-bottom: 1pt;" nowrap="nowrap">&#160;</td> </tr> <tr style="vertical-align: bottom;"> <td nowrap="nowrap">&#160;</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center; color: black;" colspan="2" nowrap="nowrap">2012</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center; color: black;" colspan="2" nowrap="nowrap">2011</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; width: 74%; color: black;">United States</td> <td style="width: 1%; color: black;">&#160;</td> <td style="text-align: left; width: 1%; color: black;">$</td> <td style="text-align: right; width: 10%; color: black;">31,947,757</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> <td style="width: 1%; color: black;">&#160;</td> <td style="text-align: left; width: 1%; color: black;">$</td> <td style="text-align: right; width: 10%; color: black;">29,571,446</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="padding-bottom: 1pt; color: black;">Rest of World</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">1,032,142</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">&#160;</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">578,036</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="padding-bottom: 2.5pt;">&#160;</td> <td style="padding-bottom: 2.5pt; color: black;">&#160;</td> <td style="border-bottom: black 2.5pt double; text-align: left; color: black;">$</td> <td style="border-bottom: black 2.5pt double; text-align: right; color: black;">32,979,899</td> <td style="text-align: left; padding-bottom: 2.5pt; color: black;">&#160;</td> <td style="padding-bottom: 2.5pt; color: black;">&#160;</td> <td style="border-bottom: black 2.5pt double; text-align: left; color: black;">$</td> <td style="border-bottom: black 2.5pt double; text-align: right; color: black;">30,149,482</td> <td style="text-align: left; padding-bottom: 2.5pt; color: black;">&#160;</td> </tr> </table> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>Use of Estimates</b></p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">The preparation of the financial statements requires management of the Company to make a number of estimates and assumptions relating to the reported amount of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the period; the carrying amount of property and equipment and intangible assets; valuation allowances for trade receivables and deferred income tax assets; valuation of the warrant derivative liability; inventory reserve; contingent consideration from acquisitions; royalty liability; and estimates for the fair value of stock options grants and other equity awards upon which the Company determines stock-based compensation expense. Actual results could differ from those estimates.</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>Cash and Cash Equivalents</b></p> <p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">The Company considers all highly liquid investments purchased with an original maturity date of three months or less to be cash equivalents.&#160;&#160;Cash equivalents are recorded at cost, which approximates market value. At times the Company maintains deposits in financial institutions in excess of federally insured limits.</p> <p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>Accounts Receivable</b></p> <p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">Accounts receivable represents amounts due from customers for which revenue has been recognized. Normal terms on trade accounts receivable are net 30 days and some customers are offered discounts for early pay.&#160;&#160; The Company performs credit evaluations when considered necessary, but generally does not require collateral to extend credit.</p> <p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">The allowance for doubtful accounts is the Company's best estimate of the amount of probable credit losses in the Company's existing receivables. The Company determines the allowance based on factors such as historical collection experience, customer's current creditworthiness, customer concentration, age of accounts receivable balance, general economic conditions that may affect a customer's ability to pay and management judgment. Actual customer collections could differ from estimates. Account balances are charged to the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. Provisions to the allowance for doubtful accounts are charged to expense. The Company does not have any off-balance sheet credit exposure related to its customers.</p> <p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>Accounts Payable - Related Party</b></p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">Accounts payable to a related party included amounts due to American Donor Services, a supplier of donors to the Company. See Note 15, &#8220;Related Party Transactions&#8221; below.</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>Inventories</b></p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">Inventories are stated at the lower of cost or market.&#160;&#160;Cost is determined using the specific identification method and includes materials, labor and overhead. The Company calculates an inventory reserve for estimated obsolescence or excess inventory based on historical usage and sales, as well as assumptions about future demand for its products. These estimates for excess and obsolete inventory are reviewed and updated on a quarterly basis. Increases in the inventory reserves result in a corresponding expense, which is generally recorded to cost of tissue and medical devices sales. Inventories where the sales cycle is estimated to be beyond twelve months are classified as Non-current inventories.</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>Property and Equipment</b></p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">Property and equipment are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, generally three to seven years for computers and equipment, and 30 years for buildings. Leasehold improvements are depreciated over the shorter of their estimated useful life or the remaining term of the lease. Repairs and maintenance are expensed as incurred.</p> <p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>Goodwill</b></p> <p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">Goodwill represents the excess of costs over fair value of assets of businesses acquired. Goodwill and intangible assets acquired in a purchase business combination and determined to have indefinite useful lives are not amortized, instead are tested for impairment at least annually and whenever events or circumstances indicate the carrying amount of the asset may not be recoverable. In its evaluation of goodwill, the Company performs an assessment of qualitative factors to determine if it is more-likely-than-not that goodwill might be impaired and whether it is necessary to perform the two-step goodwill impairment. The Company conducts its annual impairment test on December 31 of each year. See Note 3, &#8220;Goodwill&#8221; below.</p> <p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>Derivative Instruments</b></p> <p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">The Company accounts for its derivative instruments in accordance with Financial Accounting Standards Board (&#8220;FASB&#8221;) Accounting Standards Codification (&#8220;ASC&#8221;) 815 &#8220;Accounting for Derivative Instruments and Hedging Activities&#8221;. The only derivative instruments presented in the accompanying consolidated financial statements relates to warrants issued in connection with certain debt financings. The Company has not designated its warrant derivative liability as a hedging instrument as described in ASC 815 and any changes in the fair market value of the warrant derivative liability is recognized in the consolidated statement of operations during the period of change. See Note 10, &#8220;Warrants&#8221; below.</p> <p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>Intangible Assets</b></p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">Intangible assets with estimable useful lives must be amortized over their respective estimated useful lives to their estimated residual values, and reviewed for impairment whenever events or circumstances indicate their carrying amount may not be recoverable. Intangible assets include trademarks, customer lists and patents and include costs to acquire and protect Company patents. Intangible assets are carried at cost less accumulated amortization. The Company amortizes these assets on a straight-line basis over their estimated useful lives of five years for customer lists and 15 years for all other intangible assets.</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>Revenue Recognition</b></p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">Revenue is recognized when all of the following criteria are met: a) the Company has entered into a legally binding agreement with the customer; b) the products or services have been delivered; c) the Company's fee for providing the products and services is fixed or determinable; and d) collection of the Company&#8217;s fee is probable.</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">The Company&#8217;s policy is to record revenue net of any applicable sales, use, or excise taxes.&#160;&#160;If an arrangement includes a right of acceptance or a right to cancel, revenue is recognized when acceptance is received or the right to cancel has expired.</p> <p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">The Company ships to certain customers under consignment arrangements whereby the Company&#8217;s product is stored by the customer.&#160;&#160;The customer is required to report the use to the Company and upon such notice, the Company invoices the customer and revenue is recognized when above criteria has been met.</p> <p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">The Company also receives royalty revenue from third parties related to licensing agreements. The Company has royalty agreements with Nufix, RyMed and Bard Access Systems. Revenue under these agreements represented less than 1% of total revenue for 2012 and 2011.</p> <p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>Non-Cash Consulting Expense</b></p> <p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>&#160;</b></p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">From time to time, the Company issues restricted stock awards to consultants and advisors to the Company. These awards are measured at fair value at each reporting date, recognized ratably over the vesting period and are recorded in non-cash consulting expense.</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>Advertising Costs</b></p> <p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">The Company expenses advertising costs as incurred. Advertising costs of approximately $51,000 and $81,000 were expensed for the years ended December 31, 2012 and 2011, respectively.</p> <p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>Research and Development</b></p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">Research and development costs, which are principally related to internal costs for the development of new technologies and processes for tissue and coatings, are expensed as incurred.</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>Income Taxes</b></p> <p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>&#160;</b></p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">The Company accounts for income taxes under the asset and liability method of accounting for deferred taxes as prescribed under FASB ASC 740, Accounting for Income Taxes.&#160;&#160;Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. When applicable, a valuation allowance is established to reduce any deferred tax asset when it is determined that it is more likely than not that some portion of the deferred tax asset will not be realized. ASC 740 also requires reporting of taxes based on tax positions that meet a more-likely-than-not standard and that are measured at the amount that is more-likely-than-not to be realized. Differences between financial and tax reporting which do not meet this threshold are required to be recorded as unrecognized tax benefits. ASC 740 also provides guidance on the presentation of tax matters and the recognition of potential IRS interest and penalties. The Company classifies penalty and interest expense related to income tax liabilities as an income tax expense. There are no significant interest and penalties recognized in the statement of operations or accrued on the balance sheet. See Note 12, &#8220;Income Taxes&#8221; below.</p> <p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>Long-Lived Assets</b></p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">Long-lived assets, including intangible assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to future net cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the estimated fair value of the assets. No impairment was recorded during the years ended December 31, 2012 or 2011.</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>&#160;</b></p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>Net Loss Per Share</b></p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">Basic net income (loss) per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding. Shares issued during the period and shares reacquired during the period are weighted for the portion of the period that they were outstanding. Diluted net income (loss) per share is computed in a manner consistent with that of basic earnings per share while giving effect to all potentially dilutive common shares outstanding during the period, which include the assumed exercise of stock options and warrants using the treasury stock method.&#160; Diluted net loss per share was the same as basic net loss per share for the years ended December 31, 2012 and 2011 as shares issuable upon the exercise of stock options and warrants were anti-dilutive as a result of the net losses incurred for those periods.</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">Dilutive earnings per share are not reported as their effects of including 5,266,535 and 5,008,670 outstanding stock options and warrants for the twelve months ended December 31, 2012 and 2011, respectively&#160;are anti-dilutive.</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>Stock-Based Compensation</b></p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"><font style="font: 10pt times new roman, times, serif;">The Company records stock-compensation expense according to the provisions of ASC 718.&#160;&#160;Under ASC 718, stock-based compensation costs are recognized based on the estimated fair value at the grant date for all stock-based awards.&#160;&#160;The Company estimates grant date fair values using the Black-Scholes-Merton option pricing model, which requires assumptions of the life of the award and the stock price volatility over the term of the award.&#160;&#160;The Company records compensation cost of stock-based awards using the straight line method, which is recorded into earnings over the vesting period of the award.</font> <font style="font: 10pt times new roman, times, serif;">Pursuant to the income tax provisions included in ASC 718-740, the Company has elected the &#8220;short cut method&#8221; of computing its hypothetical pool of additional paid-in capital that is available to absorb future tax benefit shortfalls.</font></p> <p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>Fair Value of Financial Instruments</b></p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">The carrying values of financial instruments, including trade accounts receivable, accounts payable, other accrued expenses and long-term debt, approximate their fair values based on terms and related interest rates.</p> <p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">We follow a framework for measuring fair value. The framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are described below:</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">Level 1: Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets.</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">Level 2: Inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">Level 3: Inputs to the valuation methodology are unobservable and significant to the fair value measurement.</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">A financial instrument's level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. During the twelve months ended December 31, 2012 and 2011, there was no reclassification in financial assets or liabilities between Level 1, 2 or 3 categories.</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">The following tables set forth by level, within the fair value hierarchy, our assets and liabilities as of December 31, 2012 and December 31, 2011 that are measured at fair value on a recurring basis:</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-indent: 0.5in; margin: 0pt 0px 0pt -0.5in; font: 10pt times new roman, times, serif;">Accrued stock compensation</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <table align="center" style="width: 80%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td style="text-align: left;" nowrap="nowrap"></td> <td nowrap="nowrap">&#160;</td> <td style="text-align: center;" colspan="2" nowrap="nowrap">As&#160;of <br />December&#160;31, <br />2012</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td style="text-align: center;" colspan="2" nowrap="nowrap">As&#160;of <br />December&#160;31, <br />2011</td> <td nowrap="nowrap">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="color: black;">Level 1</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">218,850</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">608,933</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="color: black;">Level 2</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">-</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">-</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="width: 74%; color: black;">Level 3</td> <td style="width: 1%; color: black;">&#160;</td> <td style="text-align: left; width: 1%; color: black;">$</td> <td style="text-align: right; width: 10%; color: black;">-</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> <td style="width: 1%; color: black;">&#160;</td> <td style="text-align: left; width: 1%; color: black;">$</td> <td style="text-align: right; width: 10%; color: black;">-</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> </tr> </table> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"></p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">The valuation technique used to measure fair value of the accrued stock compensation is based on quoted stock market prices.</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"></p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"></p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">Warrant derivative liability</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <table align="center" style="width: 80%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td style="text-align: center;" nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td style="text-align: center;" colspan="2" nowrap="nowrap">As&#160;of <br />December&#160;31, <br />2012</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td style="text-align: center;" colspan="2" nowrap="nowrap">As&#160;of <br />December&#160;31, <br />2011</td> <td nowrap="nowrap">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="color: black;">Level 1</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">-</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">-</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="color: black;">Level 2</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">-</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">-</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="width: 74%; color: black;">Level 3</td> <td style="width: 1%; color: black;">&#160;</td> <td style="text-align: left; width: 1%; color: black;">$</td> <td style="text-align: right; width: 10%; color: black;">984,356</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> <td style="width: 1%; color: black;">&#160;</td> <td style="text-align: left; width: 1%; color: black;">$</td> <td style="text-align: right; width: 10%; color: black;">2,344,516</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> </tr> </table> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">Acquisition contingent consideration liability</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <table align="center" style="width: 80%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td style="text-align: center;" nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td style="text-align: center;" colspan="2" nowrap="nowrap">As&#160;of <br />December&#160;31, <br />2012</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td style="text-align: center;" colspan="2" nowrap="nowrap">As&#160;of <br />December&#160;31, <br />2011</td> <td nowrap="nowrap">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="color: black;">Level 1</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">-</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">-</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="color: black;">Level 2</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">-</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">-</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="width: 74%; color: black;">Level 3</td> <td style="width: 1%; color: black;">&#160;</td> <td style="text-align: left; width: 1%; color: black;">$</td> <td style="text-align: right; width: 10%; color: black;">91,740</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> <td style="width: 1%; color: black;">&#160;</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> <td style="text-align: right; width: 10%; color: black;">450,166</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> </tr> </table> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">The valuation technique used to measure fair value of the warrant liability and contingent consideration is based on a lattice model and significant assumptions and inputs determined by us.</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">Level 3 Changes</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">The following is a reconciliation of the beginning and ending balances for liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the period ending December 31, 2012:</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;"><i>&#160;</i></p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;"><i>Warrant derivative liability</i></p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;"></p> <table style="width: 70%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="width: 80%; color: black;">Balance at January 1, 2012</td> <td style="width: 1%; color: black;">&#160;</td> <td style="text-align: left; width: 1%; color: black;">$</td> <td style="text-align: right; width: 17%; color: black;">2,344,516</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; padding-bottom: 1pt; color: black;">Gain recognized in earnings</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">(1,360,160</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">)</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="color: black;">Balance at December 31, 2012</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">984,356</td> <td style="text-align: left; color: black;">&#160;</td> </tr> </table> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;"><i>Acquisition contingent consideration liability</i></p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;"></p> <table style="width: 70%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="width: 80%; color: black;">Balance at January 1, 2012</td> <td style="width: 1%; color: black;">&#160;</td> <td style="text-align: left; width: 1%; color: black;">$</td> <td style="text-align: right; width: 17%; color: black;">450,166</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; padding-bottom: 1pt; color: black;">Gain recognized in earnings</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">(358,426</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">)</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="color: black;">Balance at December 31, 2012</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">91,740</td> <td style="text-align: left; color: black;">&#160;</td> </tr> </table> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">During the year ended December 31, 2012, the Company did not change any of the valuation techniques used to measure its liabilities at fair value.</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">Items measured at fair value on a non-recurring basis:</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">The Company&#8217;s royalty liability is carried at its estimated fair value based upon the discounted present value of the payments using an estimated discount rate.&#160; The Company did not have access to a readily traded market for similar credit risks and the estimated interest rate was based upon the Company&#8217;s estimate of a market interest rate to obtain similar financing.&#160; The Company originally discounted the $16.8 million of estimated payments at an interest rate of 16.7%. This was adjusted to an estimated royalty total of $13.8 million as of December 31, 2012.&#160; Accordingly, these inputs are classified as Level 3 inputs.</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>Recent Accounting Pronouncements</b></p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">There are no recently issued accounting standards for which the Company expects a material impact to its consolidated financial statements.</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">(2) Equity</p><p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p><p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">On May 27, 2011, we entered into a Purchase Agreement and Registration Rights Agreement with Lincoln Park Capital Fund, LLC (&#8220;LPC&#8221;) whereby LPC agreed to purchase up to $31 million of our common stock from time to time pursuant to the terms of the Purchase Agreement and we agreed to register the shares purchased by LPC. Upon signing the Purchase Agreement, LPC purchased 326,798 shares of our common stock for $1,000,002 and also received warrants to purchase 130,719 shares at an exercise price of $3.06 per share, the closing price on May 26, 2011. This was part of a private placement transaction pursuant to Rule 506 of Regulation D in the second quarter of 2011 in which we raised a total of $3,027,504 and issued 939,377 shares of our common stock and warrants to purchase 375,747 shares of our common stock.</p><p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p><p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">During the first quarter of 2012, we issued 1,475,037 shares of our common stock to LPC for aggregate proceeds of $3,899,996. We used the proceeds for working capital and general corporate purposes.</p><p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p><p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">The Purchase Agreement allowed us to require LPC to purchase up to $30 million of our common stock from time to time, and also allowed us to terminate the Purchase Agreement for any reason or for no reason with one business day's notice to LPC. On May 3, 2012, we terminated the LPC Purchase Agreement.</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">(3) Acquisition</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">On July 11, 2011, we signed an Asset Purchase Agreement (&#8220;Agreement&#8221;) with Robinson MedSurg, LLC (&#8220;Seller&#8221;), a company engaged in the manufacture, distribution and sale of implantable medical devices for maxillofacial, craniofacial and orthopedic uses. Under the terms of the Agreement, we purchased certain assets from Seller, as described in the Agreement, for $1 million in common stock. In addition, we agreed to pay Seller an additional $500,000 in common stock if gross revenue from the sale of products resulting from the purchased assets (&#8220;Products&#8221;) equals or exceeds $1 million, and an additional $500,000 in common stock when gross revenue from the sale of Products equals or exceeds $2 million, provided that such gross revenue thresholds are achieved within 2 years. As of December 31, 2012, these revenue thresholds have not been achieved. We also engaged the sole member of Seller as a consultant. We accounted for this business combination under the acquisition method in accordance with ASC 805 - Business Combinations, which requires the acquiring entity in a business combination to recognize all (and only) the assets acquired and liabilities assumed in the transaction; establishes the acquisition-date fair value as the measurement objective for all assets acquired and liabilities assumed; and requires the acquirer to disclose to investors and other users all of the information they need to evaluate and understand the nature and financial effect of the business combination.</p> <p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">The purchase price was allocated as follows:</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <table style="width: 80%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; width: 80%; color: black;">Finished inventory</td> <td style="width: 1%; color: black;">&#160;</td> <td style="text-align: left; width: 1%; color: black;">$</td> <td style="text-align: right; width: 17%; color: black;">504,827</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; color: black;">Customer list</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">157,077</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="color: black;">Trademark</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">59,644</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="padding-bottom: 1pt; color: black;">Goodwill</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">728,618</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td>&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="color: black;">Total purchase price</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">1,450,166</td> <td style="text-align: left; color: black;">&#160;</td> </tr> </table> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">Goodwill is primarily made up of business synergies expected from the additional product offerings through our established distribution network.</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">The consideration for the purchase price was made up of the following components:</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <table style="width: 80%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="width: 80%;"><font style="font: 10pt times new roman, times, serif; color: black;">Stock issued</font></td> <td style="width: 1%;">&#160;</td> <td style="width: 1%;"><font style="font: 10pt times new roman, times, serif; color: black;">$</font></td> <td style="text-align: right; width: 17%;"><font style="font: 10pt times new roman, times, serif; color: black;">1,000,000</font></td> <td style="width: 1%;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td><font style="font: 10pt times new roman, times, serif; color: black;">Contingent consideration</font></td> <td>&#160;</td> <td style="border-bottom: black 1pt solid;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">450,166</font></td> <td>&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td><font style="font: 10pt times new roman, times, serif; color: black;">Total consideration</font></td> <td>&#160;</td> <td><font style="font: 10pt times new roman, times, serif; color: black;">$</font></td> <td style="text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">1,450,166</font></td> <td>&#160;</td> </tr> </table> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">The initial valuation of the contingent consideration was based upon management&#8217;s estimates of the probability of reaching the milestones that would trigger the requirement to pay the contingent amounts. During 2012, management reviewed and adjusted the assumptions associated with the contingent liability which resulted in a reduction of the contingent liability to $91,740 as of December 31, 2012.</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">The useful lives of the Customer List and the Trademark are 5 years and 15 years, respectively resulting in the following amortization schedule:</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <table style="width: 80%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="width: 80%;"><font style="font: 10pt times new roman, times, serif; color: black;">2013</font></td> <td style="width: 1%;">&#160;</td> <td style="width: 1%;">&#160;</td> <td style="text-align: right; width: 17%;"><font style="font: 10pt times new roman, times, serif; color: black;">35,392</font></td> <td style="width: 1%;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td><font style="font: 10pt times new roman, times, serif; color: black;">2014</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">35,392</font></td> <td>&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td><font style="font: 10pt times new roman, times, serif; color: black;">2015</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">35,392</font></td> <td>&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td><font style="font: 10pt times new roman, times, serif; color: black;">2016</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">26,229</font></td> <td>&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td><font style="font: 10pt times new roman, times, serif; color: black;">2017</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">3,976</font></td> <td>&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td><font style="font: 10pt times new roman, times, serif; color: black;">Thereafter</font></td> <td>&#160;</td> <td style="border-bottom: black 1pt solid;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">27,252</font></td> <td>&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td><font style="font: 10pt times new roman, times, serif; color: black;">Total</font></td> <td>&#160;</td> <td><font style="font: 10pt times new roman, times, serif; color: black;">$</font></td> <td style="text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">163,633</font></td> <td></td> </tr> </table> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">(4)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Inventories</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">Inventories consist of the following:</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <table style="width: 95%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td style="text-align: center;" colspan="6" nowrap="nowrap"><font style="font: 10pt times new roman, times, serif; color: black;">December 31,</font></td> <td nowrap="nowrap">&#160;</td> </tr> <tr style="vertical-align: bottom;"> <td style="width: 72%;" nowrap="nowrap"></td> <td style="width: 1%;" nowrap="nowrap">&#160;</td> <td style="border-bottom: black 1pt solid; width: 1%;" nowrap="nowrap">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center; width: 11%;" nowrap="nowrap"><font style="font: 10pt times new roman, times, serif; color: black;">2012</font></td> <td style="width: 1%;" nowrap="nowrap">&#160;</td> <td style="width: 1%;" nowrap="nowrap">&#160;</td> <td style="border-bottom: black 1pt solid; width: 1%;" nowrap="nowrap">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center; width: 11%;" nowrap="nowrap"><font style="font: 10pt times new roman, times, serif; color: black;">2011</font></td> <td style="width: 1%;" nowrap="nowrap">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td><font style="font: 10pt times new roman, times, serif; color: black;">Current inventories</font></td> <td>&#160;</td> <td style="padding-bottom: 1pt;">&#160;</td> <td style="text-align: center; padding-bottom: 1pt;">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="padding-bottom: 1pt;">&#160;</td> <td style="text-align: center; padding-bottom: 1pt;">&#160;</td> <td>&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td><font style="font: 10pt times new roman, times, serif; color: black;">Raw materials</font></td> <td>&#160;</td> <td><font style="font: 10pt times new roman, times, serif; color: black;">$</font></td> <td style="text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">1,919,250</font></td> <td>&#160;</td> <td>&#160;</td> <td><font style="font: 10pt times new roman, times, serif; color: black;">$</font></td> <td style="text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">1,612,901</font></td> <td>&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td><font style="font: 10pt times new roman, times, serif; color: black;">Work in process</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">4,991,032</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">2,586,047</font></td> <td>&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td><font style="font: 10pt times new roman, times, serif; color: black;">Finished goods</font></td> <td>&#160;</td> <td style="border-bottom: black 1pt solid;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">7,350,332</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 1pt solid;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">5,107,400</font></td> <td>&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">14,260,614</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">9,306,348</font></td> <td>&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td><font style="font: 10pt times new roman, times, serif; color: black;">Reserve for obsolescence</font></td> <td>&#160;</td> <td style="border-bottom: black 1pt solid;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">(1,119,193</font></td> <td><font style="font: 10pt times new roman, times, serif; color: black;">)</font></td> <td>&#160;</td> <td style="border-bottom: black 1pt solid;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">(826,638</font></td> <td><font style="font: 10pt times new roman, times, serif; color: black;">)</font></td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td><font style="font: 10pt times new roman, times, serif; color: black;">Current inventories, total</font></td> <td>&#160;</td> <td><font style="font: 10pt times new roman, times, serif; color: black;">$</font></td> <td style="text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">13,141,421</font></td> <td>&#160;</td> <td>&#160;</td> <td><font style="font: 10pt times new roman, times, serif; color: black;">$</font></td> <td style="text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">8,479,710</font></td> <td>&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td><font style="font: 10pt times new roman, times, serif; color: black;">Non-current inventories</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right;">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right;">&#160;</td> <td>&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td><font style="font: 10pt times new roman, times, serif; color: black;">Finished goods</font></td> <td>&#160;</td> <td style="border-bottom: black 1pt solid;"><font style="font: 10pt times new roman, times, serif; color: black;">$</font></td> <td style="border-bottom: black 1pt solid; text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">1,238,225</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 1pt solid;"><font style="font: 10pt times new roman, times, serif; color: black;">$</font></td> <td style="border-bottom: black 1pt solid; text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">920,542</font></td> <td>&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td><font style="font: 10pt times new">Non-current inventories, total</font></td> <td>&#160;</td> <td style="border-bottom: black 1pt solid;"><font style="font: 10pt times new roman, times, serif; color: black;">$</font></td> <td style="border-bottom: black 1pt solid; text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">1,238,225</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 1pt solid;"><font style="font: 10pt times new roman, times, serif; color: black;">$</font></td> <td style="border-bottom: black 1pt solid; text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">920,542</font></td> <td>&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td><font style="font: 10pt times new roman, times, serif; color: black;">Total inventories</font></td> <td>&#160;</td> <td style="border-bottom: windowtext 1pt solid;"><font style="font: 10pt times new roman, times, serif; color: black;">$</font></td> <td style="border-bottom: windowtext 1pt solid; text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">14,379,646</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: windowtext 1pt solid;"><font style="font: 10pt times new roman, times, serif; color: black;">$</font></td> <td style="border-bottom: windowtext 1pt solid; text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">9,400,252</font></td> <td></td> </tr> </table> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">(5)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Property and Equipment, Net</p><p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p><p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">Property and equipment, net are as follows:</p><p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</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;">&#160;</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: center; font: 10pt times new roman, times, serif; color: black;" colspan="6">December 31,</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr><tr style="vertical-align: bottom;"><td style="font-size: 10pt;">&#160;</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: center; font: 10pt times new roman, times, serif; color: black;" colspan="2">2012</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: center; font: 10pt times new roman, times, serif; color: black;" colspan="2">2011</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr><tr style="background-color: #ccffcc; vertical-align: bottom;"><td style="width: 72%; font: 10pt times new roman, times, serif; color: black;">Buildings</td><td style="width: 2%; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; width: 1%; font: 10pt times new roman, times, serif; color: black;">$</td><td style="text-align: right; width: 10%; font: 10pt times new roman, times, serif; color: black;">1,653,263</td><td style="text-align: left; width: 1%; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="width: 2%; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; width: 1%; font: 10pt times new roman, times, serif; color: black;">$</td><td style="text-align: right; width: 10%; font: 10pt times new roman, times, serif; color: black;">1,653,263</td><td style="text-align: left; width: 1%; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr><tr style="background-color: white; vertical-align: bottom;"><td style="font: 10pt times new roman, times, serif; color: black;">Equipment</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">5,172,523</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">3,597,471</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr><tr style="background-color: #ccffcc; vertical-align: bottom;"><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">Computer equipment</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">312,650</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">392,375</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr><tr style="background-color: white; vertical-align: bottom;"><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">Computer software</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">392,206</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">228,054</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr><tr style="background-color: #ccffcc; vertical-align: bottom;"><td style="text-align: justify; font: 10pt times new roman, times, serif; color: black;">Furniture and fixtures</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">170,118</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">171,418</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr><tr style="background-color: white; vertical-align: bottom;"><td style="text-align: justify; font: 10pt times new roman, times, serif; color: black;">Leasehold improvements</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">1,793,756</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">1,357,218</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr><tr style="background-color: #ccffcc; vertical-align: bottom;"><td style="text-align: justify; padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">Vehicles</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: right; font: 10pt times new roman, times, serif; color: black;">78,306</td><td style="text-align: left; padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: right; font: 10pt times new roman, times, serif; color: black;">68,306</td><td style="text-align: left; padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr><tr style="background-color: white; vertical-align: bottom;"><td style="text-align: justify; font: 10pt times new roman, times, serif; color: black;">Total cost</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">9,572,822</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">7,468,105</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr><tr style="background-color: #ccffcc; vertical-align: bottom;"><td style="text-align: justify; padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">Less: accumulated depreciation</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: right; font: 10pt times new roman, times, serif; color: black;">(4,337,955</td><td style="text-align: left; padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">)</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: right; font: 10pt times new roman, times, serif; color: black;">(3,693,965</td><td style="text-align: left; padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">)</td></tr><tr style="background-color: white; vertical-align: bottom;"><td style="padding-bottom: 1pt; font-size: 10pt;">&#160;</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: left; font: 10pt times new roman, times, serif; color: black;">$</td><td style="border-bottom: black 1pt solid; text-align: right; font: 10pt times new roman, times, serif; color: black;">5,234,867</td><td style="text-align: left; padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: left; font: 10pt times new roman, times, serif; color: black;">$</td><td style="border-bottom: black 1pt solid; text-align: right; font: 10pt times new roman, times, serif; color: black;">3,774,140</td><td style="text-align: left; padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr></table><p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p><p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">The Company leases certain equipment under capital leases. For financial reporting purposes, minimum lease payments relating to the assets have been capitalized. As of December 31, 2012, the Company has recorded $549,604 gross assets in Equipment, and $66,886 of accumulated depreciation relating to assets under capital leases.</p><p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p><p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">Maintenance and repairs expense for 2012 and 2011 was $287,811 and $109,171, respectively.&#160;&#160;Depreciation expense related to property and equipment, including property under capital lease for 2012 and 2011 was $707,971 and $701,748, respectively.</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">(6)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Intangible Assets</p><p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p><p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">Bacterin has applied for various patents with regards to processes for its products.</p><p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p><p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">The following table sets forth information regarding intangible assets:</p><p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p><table style="width: 95%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td nowrap="nowrap"></td><td nowrap="nowrap">&#160;</td><td style="border-bottom: black 1pt solid;" colspan="2" nowrap="nowrap"><p style="text-align: center; margin: 0pt 0px; font: 10pt times new roman, times, serif;">December 31,<br />2012</p></td><td nowrap="nowrap">&#160;</td><td nowrap="nowrap">&#160;</td><td style="border-bottom: black 1pt solid;" colspan="2" nowrap="nowrap"><p style="text-align: center; margin: 0pt 0px; font: 10pt times new roman, times, serif;">December 31,<br />2011</p></td><td nowrap="nowrap">&#160;</td></tr><tr style="background-color: #ccffcc; vertical-align: bottom;"><td><font style="font: 10pt times new roman, times, serif; color: black;">Intellectual Property</font></td><td>&#160;</td><td style="padding-bottom: 1pt;" colspan="2">&#160;</td><td>&#160;</td><td>&#160;</td><td style="padding-bottom: 1pt;" colspan="2">&#160;</td><td>&#160;</td></tr><tr style="background-color: white; vertical-align: bottom;"><td style="width: 72%;"><font style="font: 10pt times new roman, times, serif; color: black;">Gross carrying value</font></td><td style="width: 1%;">&#160;</td><td style="width: 1%;"><font style="font: 10pt times new roman, times, serif; color: black;">$</font></td><td style="text-align: right; width: 11%;"><font style="font: 10pt times new roman, times, serif; color: black;">820,778</font></td><td style="width: 1%;">&#160;</td><td style="width: 1%;">&#160;</td><td style="width: 1%;"><font style="font: 10pt times new roman, times, serif; color: black;">$</font></td><td style="text-align: right; width: 11%;"><font style="font: 10pt times new roman, times, serif; color: black;">809,615</font></td><td style="width: 1%;">&#160;</td></tr><tr style="background-color: #ccffcc; vertical-align: bottom;"><td><font style="font: 10pt times new roman, times, serif; color: black;">Accumulated amortization</font></td><td>&#160;</td><td style="border-bottom: black 1pt solid;"><font style="font: 10pt times new roman, times, serif; color: black;">$</font></td><td style="border-bottom: black 1pt solid; text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">(228,400</font></td><td><font style="font: 10pt times new roman, times, serif; color: black;">)</font></td><td>&#160;</td><td style="border-bottom: black 1pt solid;"><font style="font: 10pt times new roman, times, serif; color: black;">$</font></td><td style="border-bottom: black 1pt solid; text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">(153,482</font></td><td><font style="font: 10pt times new roman, times, serif; color: black;">)</font></td></tr><tr style="background-color: white; vertical-align: bottom;"><td><font style="font: 10pt times new roman, times, serif; color: black;">Net carrying value</font></td><td>&#160;</td><td style="border-bottom: black 1pt solid;"><font style="font: 10pt times new roman, times, serif; color: black;">$</font></td><td style="border-bottom: black 1pt solid; text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">592,378</font></td><td>&#160;</td><td>&#160;</td><td style="border-bottom: black 1pt solid;"><font style="font: 10pt times new roman, times, serif; color: black;">$</font></td><td style="border-bottom: black 1pt solid; text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">656,133</font></td><td>&#160;</td></tr><tr style="background-color: #ccffcc; vertical-align: bottom;"><td>&#160;</td><td>&#160;</td><td>&#160;</td><td style="text-align: right;">&#160;</td><td>&#160;</td><td>&#160;</td><td>&#160;</td><td style="text-align: right;">&#160;</td><td>&#160;</td></tr><tr style="background-color: white; vertical-align: bottom;"><td><font style="font: 10pt times new roman, times, serif; color: black;">Aggregate amortization expense:</font></td><td>&#160;</td><td><font style="font: 10pt times new roman, times, serif; color: black;">$</font></td><td style="text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">74,918</font></td><td>&#160;</td><td>&#160;</td><td><font style="font: 10pt times new roman, times, serif; color: black;">$</font></td><td style="text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">53,638</font></td><td>&#160;</td></tr><tr style="background-color: #ccffcc; vertical-align: bottom;"><td>&#160;</td><td>&#160;</td><td>&#160;</td><td style="text-align: right;">&#160;</td><td>&#160;</td><td>&#160;</td><td>&#160;</td><td style="text-align: right;">&#160;</td><td>&#160;</td></tr><tr style="background-color: white; vertical-align: bottom;"><td><font style="font: 10pt times new roman, times, serif; color: black;">Estimated amortization expense:</font></td><td>&#160;</td><td>&#160;</td><td style="text-align: right;">&#160;</td><td>&#160;</td><td>&#160;</td><td>&#160;</td><td style="text-align: right;">&#160;</td><td>&#160;</td></tr><tr style="background-color: #ccffcc; vertical-align: bottom;"><td>&#160;</td><td>&#160;</td><td>&#160;</td><td style="text-align: right;">&#160;</td><td>&#160;</td><td>&#160;</td><td>&#160;</td><td style="text-align: right;">&#160;</td><td>&#160;</td></tr><tr style="background-color: white; vertical-align: bottom;"><td><font style="font: 10pt times new roman, times, serif; color: black;">2013</font></td><td>&#160;</td><td>&#160;</td><td style="text-align: right;">&#160;</td><td>&#160;</td><td>&#160;</td><td><font style="font: 10pt times new roman, times, serif; color: black;">$</font></td><td style="text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">74,918</font></td><td>&#160;</td></tr><tr style="background-color: #ccffcc; vertical-align: bottom;"><td><font style="font: 10pt times new roman, times, serif; color: black;">2014</font></td><td>&#160;</td><td>&#160;</td><td style="text-align: right;">&#160;</td><td>&#160;</td><td>&#160;</td><td><font style="font: 10pt times new roman, times, serif; color: black;">$</font></td><td style="text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">74,918</font></td><td>&#160;</td></tr><tr style="background-color: white; vertical-align: bottom;"><td><font style="font: 10pt times new roman, times, serif; color: black;">2015</font></td><td>&#160;</td><td>&#160;</td><td style="text-align: right;">&#160;</td><td>&#160;</td><td>&#160;</td><td><font style="font: 10pt times new roman, times, serif; color: black;">$</font></td><td style="text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">74,918</font></td><td>&#160;</td></tr><tr style="background-color: #ccffcc; vertical-align: bottom;"><td><font style="font: 10pt times new roman, times, serif; color: black;">2016</font></td><td>&#160;</td><td>&#160;</td><td style="text-align: right;">&#160;</td><td>&#160;</td><td>&#160;</td><td><font style="font: 10pt times new roman, times, serif; color: black;">$</font></td><td style="text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">74,918</font></td><td>&#160;</td></tr><tr style="background-color: white; vertical-align: bottom;"><td><font style="font: 10pt times new roman, times, serif; color: black;">2017</font></td><td>&#160;</td><td>&#160;</td><td style="text-align: right;">&#160;</td><td>&#160;</td><td>&#160;</td><td><font style="font: 10pt times new roman, times, serif; color: black;">$</font></td><td style="text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">74,918</font></td><td>&#160;</td></tr><tr style="background-color: #ccffcc; vertical-align: bottom;"><td><font style="font: 10pt times new roman, times, serif; color: black;">Thereafter</font></td><td>&#160;</td><td>&#160;</td><td style="text-align: right;">&#160;</td><td>&#160;</td><td>&#160;</td><td style="border-bottom: windowtext 1pt solid;"><font style="font: 10pt times new roman, times, serif; color: black;">$</font></td><td style="border-bottom: windowtext 1pt solid; text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">217,788</font></td><td>&#160;</td></tr><tr style="background-color: white; vertical-align: bottom;"><td><font style="font: 10pt times new roman, times, serif; color: black;">Total</font></td><td>&#160;</td><td>&#160;</td><td style="text-align: right;">&#160;</td><td>&#160;</td><td>&#160;</td><td><font style="font: 10pt times new roman, times, serif; color: black;">$</font></td><td style="text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">592,378</font></td><td></td></tr></table> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">(7)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Accrued Liabilities</p><p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p><p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">Accrued liabilities consist of the following:</p><p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</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;">&#160;</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: center; font: 10pt times new roman, times, serif; color: black;" colspan="6">December 31,</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr><tr style="vertical-align: bottom;"><td style="font-size: 10pt;">&#160;</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: center; font: 10pt times new roman, times, serif; color: black;" colspan="2">2012</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: center; font: 10pt times new roman, times, serif; color: black;" colspan="2">2011</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr><tr style="background-color: #ccffcc; vertical-align: bottom;"><td style="text-align: left; width: 72%; font: 10pt times new roman, times, serif; color: black;">Acquisition contingent liability</td><td style="width: 2%; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; width: 1%; font: 10pt times new roman, times, serif; color: black;">$</td><td style="text-align: right; width: 10%; font: 10pt times new roman, times, serif; color: black;">91,740</td><td style="text-align: left; width: 1%; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="width: 2%; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; width: 1%; font: 10pt times new roman, times, serif; color: black;">$</td><td style="text-align: right; width: 10%; font: 10pt times new roman, times, serif; color: black;">450,166</td><td style="text-align: left; width: 1%; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr><tr style="background-color: white; vertical-align: bottom;"><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">Accrued stock compensation</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">218,850</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">608,933</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr><tr style="background-color: #ccffcc; vertical-align: bottom;"><td style="font: 10pt times new roman, times, serif; color: black;">Wages/commissions payable</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">1,013,909</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">1,289,827</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr><tr style="background-color: white; vertical-align: bottom;"><td style="text-align: left; padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">Other accrued expenses</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: right; font: 10pt times new roman, times, serif; color: black;">1,075,591</td><td style="text-align: left; padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: right; font: 10pt times new roman, times, serif; color: black;">1,413,285</td><td style="text-align: left; padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr><tr style="background-color: #ccffcc; vertical-align: bottom;"><td style="padding-bottom: 1pt; font-size: 10pt;">&#160;</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: left; font: 10pt times new roman, times, serif; color: black;">$</td><td style="border-bottom: black 1pt solid; text-align: right; font: 10pt times new roman, times, serif; color: black;">2,400,090</td><td style="text-align: left; padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: left; font: 10pt times new roman, times, serif; color: black;">$</td><td style="border-bottom: black 1pt solid; text-align: right; font: 10pt times new roman, times, serif; color: black;">3,762,211</td><td style="text-align: left; padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr></table> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">(8)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Long-term Debt</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">On July 29, 2011, we entered into Loan and Security Agreement with MidCap Funding III, LLC (&#8220;MidCap&#8221;), whereby MidCap and Silicon Valley Bank (&#8220;SVB&#8221;) agreed to provide a $15 million credit facility which allowed us to borrow $7 million and up to an additional $8 million in connection with a permitted acquisition through December 31, 2011. The $8 million portion expired unused as of December 31, 2011. The credit facility was secured by substantially all of our assets and carried an interest rate of LIBOR plus 7.5%, subject to a LIBOR floor rate of 3% and contained covenants based upon revenue thresholds. Repayment was interest only for the first nine months, with principal and interest for the subsequent 33 months. In the second quarter of 2012, the interest only period was extended through December 31, 2012. We repaid this loan in full with the proceeds from our credit facility with ROS Acquisition Offshore LP (&#8220;ROS&#8221;) on August 24, 2012.</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"><font style="color: black;"></font>&#160;</p> <div style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"><font style="color: black;">On April 23, 2012, the Company secured an accounts receivable credit facility with Midcap Financial LLC and Silicon Valley Bank. The revolving loan credit facility allowed Bacterin to borrow up to $5 million through January 1, 2015. The facility allowed borrowings based upon a predetermined formula of up to 80% of Bacterin's eligible accounts receivable, as defined in the credit and security agreement</font><font style="color: #323133;">. </font><font style="color: black;">The Company also amended its existing Loan and Security Agreement with MidCap to allow the Company to borrow up to an additional $3 million for the next nine months in connection with a permitted acquisition. The credit facility carried an interest rate of LIBOR plus 4%, subject to a LIBOR floor rate of 2.5%. The Company also agreed to pay a 0.5% collateral management fee on the average outstanding balance of the facility and 1% of the average unused portion of the facility, as well as a 1% origination fee. The Company repaid this accounts receivable credit facility in full with the proceeds from the credit facility with ROS on August 24, 2012.</font></div> <p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif; color: #323133;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif; color: #323133;"><font style="font-style: normal; font-family: times new roman, times, serif; color: black; font-weight: normal;">On August 24, 2012, the Company entered into a Credit Agreement with ROS, whereby ROS agreed to provide an initial $20 million term loan and Bacterin may also borrow an additional $5 million upon achievement of certain revenue objectives prior to December 31, 2013. The loan carries an interest rate of LIBOR plus 12.13%, subject to a LIBOR floor rate of 1.0%. Bacterin also agreed to pay a royalty of 1.75% on the first $45,000,000 of net sales, plus 1.0% of net sales in excess of $45,000,000 for each of the next ten years. Bacterin has the right to repurchase the loan and royalty interest at amount to be determined based on the date of repurchase and the amount of prior principal, interest and royalty payments. The loan is secured by substantially all of our assets. The estimate of the royalty component of the facility over the life of the agreement resulted in a debt discount and a royalty liability of $7,341,520. The debt discount will be amortized to interest expense over the seven year term of the loan using the effective interest method. The royalty liability will be accreted to $13.8 million through interest expense over the ten year term of the royalty agreement using the effective interest method. Payments made under the royalty agreement, per the table below, will directly reduce the royalty liability.</font></p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif; color: #323133;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">Other non-operating expense in 2012 consisted of a non cash charge of approximately $706,000 of debt discounts and loan origination fees written off in addition to approximately $944,000 of prepayment penalties related to the term financing with MidCap and Silicon Valley Bank that was prepaid in connection with the new 2012 term loan financing with OrbiMed. Other non-operating expense in 2011 consisted of a non cash charge of approximately $1,300,000 of debt discounts written off in connection with the new 2011 term loan financing with MidCap Financial and Silicon Valley Bank.</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif; color: #323133;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;The Company received net proceeds of approximately $10 million following repayment of the existing term loan and accounts receivable credit facility with MidCap Financial, including prepayment penalties. The Company plans to use the net proceeds for working capital and general corporate purposes.</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">Long-term debt consists of the following:</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <table style="width: 95%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td style="border-bottom: black 1pt solid;" colspan="2" nowrap="nowrap"> <p style="text-align: center; margin: 0pt 0px; font: 10pt times new roman, times, serif;">December 31,<br />2012</p> </td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td style="border-bottom: black 1pt solid;" colspan="2" nowrap="nowrap"> <p style="text-align: center; margin: 0pt 0px; font: 10pt times new roman, times, serif;">December&#160;31,<br />&#160;2011</p> </td> <td nowrap="nowrap">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="width: 72%;"><font style="font: 10pt times new roman, times, serif; color: black;">Loan payable to ROS Acquisition Offshore, LIBOR plus 12.13% maturing August 2019</font></td> <td style="width: 1%;">&#160;</td> <td style="width: 1%;"><font style="font: 10pt times new roman, times, serif; color: black;">$</font></td> <td style="text-align: right; width: 11%;"><font style="font: 10pt times new roman, times, serif; color: black;">20,000,000</font></td> <td style="width: 1%;">&#160;</td> <td style="width: 1%;">&#160;</td> <td style="width: 1%;"><font style="font: 10pt times new roman, times, serif; color: black;">$</font></td> <td style="text-align: right; width: 11%;"><font style="font: 10pt times new roman, times, serif; color: black;">-</font></td> <td style="width: 1%;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td><font style="font: 10pt times new roman, times, serif; color: black;">Loan payable to MidCap, LIBOR plus 7.5% maturing January 2015</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">-</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">4,666,667</font></td> <td>&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td><font style="font: 10pt times new roman, times, serif; color: black;">Loan payable to SVB, LIBOR plus 7.5% maturing January 2015</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">-</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">2,333,333</font></td> <td>&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td><font style="font: 10pt times new roman, times, serif; color: black;">6.00% loan payable to Valley Bank of Belgrade, $10,746 monthly payments including interest, maturing December 24, 2030; secured by building</font></td> <td>&#160;</td> <td style="border-bottom: black 1pt solid;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">1,421,420</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 1pt solid;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">1,464,183</font></td> <td>&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">21,421,420</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">8,464,183</font></td> <td>&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right;">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right;">&#160;</td> <td>&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td><font style="font: 10pt times new roman, times, serif; color: black;">Less: Current portion</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">(45,135</font></td> <td><font style="font: 10pt times new roman, times, serif; color: black;">)</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">(1,632,978</font></td> <td><font style="font: 10pt times new roman, times, serif; color: black;">)</font></td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td><font style="font: 10pt times new roman, times, serif; color: black;">Debt discount</font></td> <td>&#160;</td> <td style="border-bottom: black 1pt solid;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">(6,893,183</font></td> <td><font style="font: 10pt times new roman, times, serif; color: black;">)</font></td> <td>&#160;</td> <td style="border-bottom: black 1pt solid;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">(192,935</font></td> <td><font style="font: 10pt times new roman, times, serif; color: black;">)</font></td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td><font style="font: 10pt times new roman, times, serif; color: black;">Long-term debt</font></td> <td>&#160;</td> <td style="border-bottom: black 1pt solid;"><font style="font: 10pt times new roman, times, serif; color: black;">$</font></td> <td style="border-bottom: black 1pt solid; text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">14,483,102</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 1pt solid;"><font style="font: 10pt times new roman, times, serif; color: black;">$</font></td> <td style="border-bottom: black 1pt solid; text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">6,638,270</font></td> <td>&#160;</td> </tr> </table> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">The following is a summary of maturities due on the debt as of December 31, 2012:</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <table style="width: 95%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; width: 87%; color: black;">2013</td> <td style="width: 1%; color: black;">&#160;</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> <td style="text-align: right; width: 10%; color: black;">45,135</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; color: black;">2014</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">47,919</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; color: black;">2015</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">50,875</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; color: black;">2016</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">1,720,679</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; color: black;">2017</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">6,724,041</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; padding-bottom: 1pt; color: black;">Thereafter</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">12,832,771</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; color: black;">Total</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">21,421,420</td> <td style="text-align: left; color: black;">&#160;</td> </tr> </table> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">The following is a summary of estimated future royalty payments as of December 31, 2012:</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <table style="width: 95%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; width: 87%; font-size: 10pt;">2013</td> <td style="width: 1%; font-size: 10pt;">&#160;</td> <td style="text-align: left; width: 1%; font-size: 10pt;">&#160;</td> <td style="text-align: right; width: 10%; font-size: 10pt;">788,000</td> <td style="text-align: left; width: 1%; font-size: 10pt;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; font-size: 10pt;">2014</td> <td style="font-size: 10pt;">&#160;</td> <td style="text-align: left; font-size: 10pt;">&#160;</td> <td style="text-align: right; font-size: 10pt;">853,000</td> <td style="text-align: left; font-size: 10pt;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; font-size: 10pt;">2015</td> <td style="font-size: 10pt;">&#160;</td> <td style="text-align: left; font-size: 10pt;">&#160;</td> <td style="text-align: right; font-size: 10pt;">1,050,000</td> <td style="text-align: left; font-size: 10pt;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; font-size: 10pt;">2016</td> <td style="font-size: 10pt;">&#160;</td> <td style="text-align: left; font-size: 10pt;">&#160;</td> <td style="text-align: right; font-size: 10pt;">1,289,000</td> <td style="text-align: left; font-size: 10pt;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; font-size: 10pt;">2017</td> <td style="font-size: 10pt;">&#160;</td> <td style="text-align: left; font-size: 10pt;">&#160;</td> <td style="text-align: right; font-size: 10pt;">1,384,000</td> <td style="text-align: left; font-size: 10pt;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;">Thereafter</td> <td style="padding-bottom: 1pt; font-size: 10pt;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; font-size: 10pt;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; font-size: 10pt;">8,477,000</td> <td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; font-size: 10pt;">Total</td> <td style="font-size: 10pt;">&#160;</td> <td style="text-align: left; font-size: 10pt;">$</td> <td style="text-align: right; font-size: 10pt;">13,841,000</td> <td style="text-align: left; font-size: 10pt;"></td> </tr> </table> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">(9)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Stock-Based Compensation</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">Our Equity Incentive Plan ("The Plan") provides for stock awards, including options and performance stock awards, to be granted to employees, consultants, independent contractors, officers and directors. The purpose of the incentive compensation plan is to enable us to attract, retain and motivate key employees, directors and, on occasion, independent consultants, by providing them with stock options and restricted stock grants. Stock options granted under the incentive compensation plan may be either incentive stock options to employees, as defined in Section 422A of the Internal Revenue Code of 1986, or non-qualified stock options. The plan is currently administered by the compensation committee of our Board of Directors. The administrator of the plan has the power to determine the terms of any stock options granted under the incentive plan, including the exercise price, the number of shares subject to the stock option and conditions of exercise. Stock options granted under the incentive plan are generally not transferable, vest in installments over the requisite service period and are exercisable during the stated contractual term of the option only by such optionee. The exercise price of all incentive stock options granted under the incentive plan must be at least equal to the fair market value of the shares of common stock on the date of the grant. 9 million shares are authorized under the Plan and at December 31, 2012, we had approximately 1,559,898 shares available for issuance. Shares issued under the Plan may be authorized, but unissued, or reacquired shares.</p> <p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">Stock compensation expense recognized in the statement of operations for the years ended December 31, 2012 and 2011 is based on awards ultimately expected to vest and reflects an estimate of awards that will be forfeited. ASC 718 requires forfeitures to be estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates.</p> <p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">The estimated fair value of stock options granted is done using the Black-Sholes-Merton method applied to individual grants. Key assumptions used to estimate the fair value of stock awards are as follows:</p> <p style="text-align: justify; text-indent: -0.25in; margin: 0pt 0px 0pt 0.75in; font: 10pt times new roman, times, serif;">&#160;</p> <table style="margin-top: 0pt; width: 100%; font: 10pt times new roman, times, serif; margin-bottom: 0pt;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: top;"> <td style="width: 0.5in;"></td> <td style="width: 0.25in;"><font style="font-family: symbol;">&#183;</font></td> <td style="text-align: justify;">Risk-Free Rate: The risk-free rate is determined by reference to U.S. Treasury yields at or near the time of grant for time periods similar to the expected term of the award. We used a weighted-average rate of 1.20% for year ended December 31, 2012.</td> </tr> </table> <p style="text-align: justify; text-indent: -0.25in; margin: 0pt 0px 0pt 0.5in; font: 10pt symbol;">&#160;</p> <table style="margin-top: 0pt; width: 100%; font: 10pt times new roman, times, serif; margin-bottom: 0pt;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: top;"> <td style="width: 0.5in;"></td> <td style="width: 0.25in;"><font style="font-family: symbol;">&#183;</font></td> <td style="text-align: justify;"><font style="font-family: times new roman, times, serif;">Expected Term: We do not have adequate history to estimate an expected term of stock-based awards, and accordingly, we use the short-cut method as prescribed by Staff Accounting Bulletin 107 to determine an expected term. We used a weighted-average expected term of 6.7 years for the year ended December 31, 2012.</font></td> </tr> </table> <p style="margin-top: 0pt; font: 10pt times new roman, times, serif; margin-bottom: 0pt;">&#160;</p> <table style="margin-top: 0pt; width: 100%; font: 10pt times new roman, times, serif; margin-bottom: 0pt;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: top;"> <td style="width: 0.5in;"></td> <td style="width: 0.25in;"><font style="font-family: symbol;">&#183;</font></td> <td style="text-align: justify;">Volatility: We estimate expected volatility based on peer-companies as prescribed by ASC 718. We used a weighted-average volatility rate of 66% for the year ended December 31, 2012.</td> </tr> </table> <p style="text-align: justify; text-indent: -0.25in; margin: 0pt 0px 0pt 0.75in; font: 10pt times new roman, times, serif;">&#160;</p> <table style="margin-top: 0pt; width: 100%; font: 10pt times new roman, times, serif; margin-bottom: 0pt;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: top;"> <td style="width: 0.5in;"></td> <td style="width: 0.25in;"><font style="font-family: symbol;">&#183;</font></td> <td style="text-align: justify;">Dividend Yield: The dividend yield assumption is based on our history and expectation of dividend payouts and was 0% as of December 31, 2012 and 2011.</td> </tr> </table> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">Activity under our stock option plans was as follows:</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <table style="width: 95%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td nowrap="nowrap">&#160;</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center; color: black;" colspan="10" nowrap="nowrap">2012</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center; color: black;" colspan="10" nowrap="nowrap">2011</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> </tr> <tr style="vertical-align: bottom;"> <td nowrap="nowrap">&#160;</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center; color: black;" colspan="2" nowrap="nowrap">Shares</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center; color: black;" colspan="2" nowrap="nowrap">Weighted<br />Average<br />Exercise&#160;Price</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center; color: black;" colspan="2" nowrap="nowrap">Weighted<br />Average&#160;Fair<br />Value&#160;at&#160;Grant<br />Date</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center; color: black;" colspan="2" nowrap="nowrap">Shares</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center; color: black;" colspan="2" nowrap="nowrap">Weighted<br />Average<br />Exercise&#160;Price</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center; color: black;" colspan="2" nowrap="nowrap">Weighted<br />Average&#160;Fair<br />Value&#160;at&#160;Grant<br />Date</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="width: 22%; color: black;">Outstanding at January 1</td> <td style="width: 1%; color: black;">&#160;</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> <td style="text-align: right; width: 10%; color: black;">4,828,910</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> <td style="width: 1%; color: black;">&#160;</td> <td style="text-align: left; width: 1%; color: black;">$</td> <td style="text-align: right; width: 10%; color: black;">2.14</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> <td style="width: 1%; color: black;">&#160;</td> <td style="text-align: left; width: 1%; color: black;">$</td> <td style="text-align: right; width: 10%; color: black;">1.01</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> <td style="width: 1%; color: black;">&#160;</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> <td style="text-align: right; width: 10%; color: black;">3,850,743</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> <td style="width: 1%; color: black;">&#160;</td> <td style="text-align: left; width: 1%; color: black;">$</td> <td style="text-align: right; width: 10%; color: black;">1.38</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> <td style="width: 1%; color: black;">&#160;</td> <td style="text-align: left; width: 1%; color: black;">$</td> <td style="text-align: right; width: 10%; color: black;">0.84</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="color: black;">Granted</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">1,716,250</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">1.79</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">1.03</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">2,261,750</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">2.90</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">1.39</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="color: black;">Exercised</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">(39,375</td> <td style="text-align: left; color: black;">)</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">0.87</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">0.37</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">(775,833</td> <td style="text-align: left; color: black;">)</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">1.31</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">0.66</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; padding-bottom: 1pt; color: black;">Cancelled or expired</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">(1,239,250</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">)</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">&#160;</td> <td style="text-align: right; padding-bottom: 1pt; color: black;">2.17</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">&#160;</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">&#160;</td> <td style="text-align: right; padding-bottom: 1pt; color: black;">0.39</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">&#160;</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">(507,750</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">)</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">&#160;</td> <td style="text-align: right; padding-bottom: 1pt; color: black;">2.42</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">&#160;</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">&#160;</td> <td style="text-align: right; padding-bottom: 1pt; color: black;">1.23</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="color: black;">Outstanding at December 31</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">5,266,535</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">2.02</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">1.03</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">4,828,910</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">2.14</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">1.01</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="color: black;">Exercisable at December 31</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">2,565,301</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">1.83</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">0.80</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">2,194,593</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">1.63</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">0.67</td> <td style="text-align: left; color: black;">&#160;</td> </tr> </table> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">The total intrinsic value of options exercised in 2012 was $39,375. The aggregate intrinsic value of options outstanding as of December 31, 2012 is $473,416. The aggregate intrinsic value of exercisable options as of December 31, 2012 is $473,416. As of December 31, 2012, there were 2,701,234 unvested options with a weighted average fair value at the grant date of $1.18 per option. As of December 31, 2012, there is no compensation related to nonvested awards not yet recognized.</p> <p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">From time to time we may grant stock options and restricted stock grants to consultants. We account for consultant stock options in accordance with ASC 505-50. Consulting expense for the grant of stock options to consultants is determined based on the estimated fair value of the stock options at the measurement date as defined in ASC 505-50 and is recognized over the vesting period.</p> <p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">The following table summarizes restricted stock award activity during the year ended December 31, 2012:</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <table style="width: 70%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td nowrap="nowrap">&#160;</td> <td style="color: black;" nowrap="nowrap">&#160;</td> <td style="text-align: center; color: black;" colspan="2" nowrap="nowrap">Shares</td> <td style="color: black;" nowrap="nowrap">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; width: 80%; color: black;">Outstanding at Jan. 1, 2012</td> <td style="width: 1%; color: black;">&#160;</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> <td style="text-align: right; width: 17%; color: black;">1,632,900</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="color: black;">Awarded</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">151,000</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="color: black;">Cancelled</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">(677,500</td> <td style="text-align: left; color: black;">)</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="padding-bottom: 1pt; color: black;">Vested</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">(372,500</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">)</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="color: black;">Outstanding at December 31, 2012</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">733,900</td> <td style="text-align: left; color: black;">&#160;</td> </tr> </table> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">The restricted stock awards generally vest over three to five year periods. The Company recognized non cash consulting expense of $427,787 and $1,675,008 for the years ended December 31, 2012 and 2011, respectively. As of December 31, 2012, the total expense related to nonvested restricted stock awards not yet recognized is $562,622 and is expected to be recognized over four years.</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">(10)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Warrants</p> <p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">Associated with the second quarter of 2011 private placement of common stock, 375,747 warrants with exercise prices ranging from $2.95 to $3.52 were issued to the participants. Warrants issued with common stock under this private placement were recorded as additional paid in capital at their estimated fair market value of $312,285 during the second quarter of 2011.</p> <p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">In connection with the July 29, 2011MidCap financing described above, MidCap and SVB received 192,157 warrants to purchase shares of our common stock equal to 7% of the amount drawn on the credit facility divided by the exercise price of $2.55 per share. The warrants have a seven year term. MidCap and SVB also had the right to receive additional warrants if additional amounts were drawn under the facility. The fair value of these warrants, $227,388, was recorded as a discount to the underlying debt and additional paid in capital.</p> <p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">In the third quarter of 2012, the Company issued 297,991 warrants with an exercise price of $2.30 to a broker in conjunction with the August 24, 2012 financing arrangement with ROS. These were recorded in &#8220;Other Assets&#8221; and will be amortized over the life of the financing term. These warrants were issued in the fourth quarter of 2012. In addition, on July 23, 2012 the Company issued 300,895 warrants with an exercise price of $1.03 to a private party resulting in $342,485 recorded in &#8220;Other Expense&#8221;.</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">The following table summarizes our warrant activities for the period ended December 31, 2012:</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <table style="width: 90%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td style="text-align: center;" colspan="2" nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td style="color: black;" nowrap="nowrap">&#160;</td> <td style="text-align: center; color: black;" colspan="2" nowrap="nowrap">Weighted</td> <td style="color: black;" nowrap="nowrap">&#160;</td> </tr> <tr style="vertical-align: bottom;"> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td style="text-align: center;" colspan="2" nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td style="color: black;" nowrap="nowrap">&#160;</td> <td style="text-align: center; color: black;" colspan="2" nowrap="nowrap">Average</td> <td style="color: black;" nowrap="nowrap">&#160;</td> </tr> <tr style="vertical-align: bottom;"> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td style="text-align: center;" colspan="2" nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td style="color: black;" nowrap="nowrap">&#160;</td> <td style="text-align: center; color: black;" colspan="2" nowrap="nowrap">Exercise</td> <td style="color: black;" nowrap="nowrap">&#160;</td> </tr> <tr style="vertical-align: bottom;"> <td nowrap="nowrap">&#160;</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center; color: black;" colspan="2" nowrap="nowrap">Shares</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center; color: black;" colspan="2" nowrap="nowrap">Price</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="width: 74%; color: black;">Outstanding at January 1, 2012</td> <td style="width: 1%; color: black;">&#160;</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> <td style="text-align: right; width: 10%; color: black;">6,967,529</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> <td style="width: 1%; color: black;">&#160;</td> <td style="text-align: left; width: 1%; color: black;">$</td> <td style="text-align: right; width: 10%; color: black;">2.22</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="color: black;">Issued</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">598,886</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">1.66</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="padding-bottom: 1pt; color: black;">Exercised</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">(244,748</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">)</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">1.58</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="color: black;">Outstanding at December 31, 2012</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">7,321,667</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">2.20</td> <td style="text-align: left; color: black;">&#160;</td> </tr> </table> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">The exercise of 244,748 warrants in 2012 resulted in the issuance of 129,972 shares of common stock as the warrants were exercised using the cashless feature of the warrants.</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">We utilize a lattice model to determine the fair market value of the warrants accounted for as liabilities. The 1,570,565 warrants issued in connection with a 2010 bridge financing and 375,000 warrants issued in connection with a 2010 debt financing were accounted for as derivative liabilities in connection with the price protection provisions of the warrants in compliance with ASC 815. There were 133,474 additional warrants issued in the first quarter of 2011 and an additional 143,700 warrants in the first quarter of 2012 as a result of the LPC share issuance triggering the anti-dilution clause in the original warrant agreement. The lattice model accommodates the probability of exercise price adjustment features as outlined in the warrant agreements. We recorded an unrealized gain of $1,360,160 resulting from the change in the fair value of the warrant derivative liability for 2012. Under the terms of the warrant agreement, at any time while the warrant is outstanding, the exercise price per share can be reduced to the price per share of future subsequent equity sales of our common stock or common stock equivalents that is lower than the exercise price per share as stated in the warrant agreement.</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">The estimated fair value was derived using the lattice model with the following weighted-average assumptions:</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <table style="width: 70%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td nowrap="nowrap">&#160;</td> <td style="color: black;" nowrap="nowrap">&#160;</td> <td style="text-align: center; color: black;" colspan="6" nowrap="nowrap">Year ended</td> <td style="color: black;" nowrap="nowrap">&#160;</td> </tr> <tr style="vertical-align: bottom;"> <td nowrap="nowrap">&#160;</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center; color: black;" colspan="6" nowrap="nowrap">December 31,</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> </tr> <tr style="vertical-align: bottom;"> <td nowrap="nowrap">&#160;</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center; color: black;" colspan="2" nowrap="nowrap">2012</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center; color: black;" colspan="2" nowrap="nowrap">2011</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="width: 74%; color: black;">Value of underlying common stock (per share)</td> <td style="width: 1%; color: black;">&#160;</td> <td style="text-align: left; width: 1%; color: black;" nowrap="nowrap">$</td> <td style="text-align: right; width: 10%; color: black;" nowrap="nowrap">1.25</td> <td style="text-align: left; width: 1%; color: black;" nowrap="nowrap">&#160;</td> <td style="width: 1%; color: black;" nowrap="nowrap">&#160;</td> <td style="text-align: left; width: 1%; color: black;" nowrap="nowrap">$</td> <td style="text-align: right; width: 10%; color: black;" nowrap="nowrap">1.56</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; color: black;">Risk free interest rate</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;" nowrap="nowrap">&#160;</td> <td style="text-align: right; color: black;" nowrap="nowrap">0.24</td> <td style="text-align: left; color: black;" nowrap="nowrap">%</td> <td style="color: black;" nowrap="nowrap">&#160;</td> <td style="text-align: left; color: black;" nowrap="nowrap">&#160;</td> <td style="text-align: right; color: black;" nowrap="nowrap">0.32</td> <td style="text-align: left; color: black;">%</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; color: black;">Expected term</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;" nowrap="nowrap">&#160;</td> <td style="text-align: right; color: black;" nowrap="nowrap"><font style="font: 10pt times new roman, times, serif; color: black;">3.83 years</font></td> <td style="text-align: left; color: black;" nowrap="nowrap">&#160;</td> <td style="color: black;" nowrap="nowrap">&#160;</td> <td style="text-align: left; color: black;" nowrap="nowrap">&#160;</td> <td style="text-align: right; color: black;" nowrap="nowrap"><font style="font: 10pt times new roman, times, serif; color: black;">4.67 years</font></td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; color: black;">Dividend yield</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;" nowrap="nowrap">&#160;</td> <td style="text-align: right; color: black;" nowrap="nowrap">0</td> <td style="text-align: left; color: black;" nowrap="nowrap">&#160;</td> <td style="color: black;" nowrap="nowrap">&#160;</td> <td style="text-align: left; color: black;" nowrap="nowrap">&#160;</td> <td style="text-align: right; color: black;" nowrap="nowrap">0</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="color: black;">Volatility</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;" nowrap="nowrap">&#160;</td> <td style="text-align: right; color: black;" nowrap="nowrap">72</td> <td style="text-align: left; color: black;" nowrap="nowrap">%</td> <td style="color: black;" nowrap="nowrap">&#160;</td> <td style="text-align: left; color: black;" nowrap="nowrap">&#160;</td> <td style="text-align: right; color: black;" nowrap="nowrap">69</td> <td style="text-align: left; color: black;">%</td> </tr> </table> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">The following table summarizes our activities related to number of warrants used in the derivative liability for the period ended December 31, 2012 and 2011:</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <table style="width: 90%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td style="text-align: center; padding-bottom: 1pt; color: black; font-size: 10pt;">&#160;</td> <td style="text-align: center; padding-bottom: 1pt; color: black; font-size: 10pt;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center; color: black; font-size: 10pt;" colspan="2">2012</td> <td style="text-align: center; padding-bottom: 1pt; color: black; font-size: 10pt;">&#160;</td> <td style="text-align: center; padding-bottom: 1pt; font-size: 10pt;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center; font-size: 10pt;" colspan="2">2011</td> <td style="text-align: center; padding-bottom: 1pt; font-size: 10pt;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="width: 72%; color: black; font-size: 10pt;">Balance at January 1</td> <td style="width: 2%; color: black; font-size: 10pt;">&#160;</td> <td style="text-align: left; width: 1%; color: black; font-size: 10pt;">&#160;</td> <td style="text-align: right; width: 10%; color: black; font-size: 10pt;">1,506,007</td> <td style="text-align: left; width: 1%; color: black; font-size: 10pt;">&#160;</td> <td style="width: 2%; font-size: 10pt;">&#160;</td> <td style="text-align: left; width: 1%; font-size: 10pt;">&#160;</td> <td style="text-align: right; width: 10%; font-size: 10pt;">1,595,473</td> <td style="text-align: left; width: 1%; font-size: 10pt;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; color: black; font-size: 10pt;">Derivative warrants issued</td> <td style="color: black; font-size: 10pt;">&#160;</td> <td style="text-align: left; color: black; font-size: 10pt;">&#160;</td> <td style="text-align: right; color: black; font-size: 10pt;">143,700</td> <td style="text-align: left; color: black; font-size: 10pt;">&#160;</td> <td style="font-size: 10pt;">&#160;</td> <td style="text-align: left; font-size: 10pt;">&#160;</td> <td style="text-align: right; font-size: 10pt;">133,474</td> <td style="text-align: left; font-size: 10pt;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; padding-bottom: 1pt; color: black; font-size: 10pt;">Derivative warrants exercised</td> <td style="padding-bottom: 1pt; color: black; font-size: 10pt;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black; font-size: 10pt;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black; font-size: 10pt;">-</td> <td style="text-align: left; padding-bottom: 1pt; color: black; font-size: 10pt;">&#160;</td> <td style="padding-bottom: 1pt; font-size: 10pt;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; font-size: 10pt;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; font-size: 10pt;">(222,940</td> <td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;">)</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="color: black; font-size: 10pt;">Balance at December 31</td> <td style="color: black; font-size: 10pt;">&#160;</td> <td style="text-align: left; color: black; font-size: 10pt;">&#160;</td> <td style="text-align: right; color: black; font-size: 10pt;">1,649,707</td> <td style="text-align: left; color: black; font-size: 10pt;">&#160;</td> <td style="font-size: 10pt;">&#160;</td> <td style="text-align: left; font-size: 10pt;">&#160;</td> <td style="text-align: right; font-size: 10pt;">1,506,007</td> <td style="text-align: left; font-size: 10pt;"></td> </tr> </table> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">(11)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Commitments and Contingencies</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>Operating Leases</b></p> <p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">We lease two office facilities under non-cancelable operating lease agreements with expiration dates in 2013 and 2019. We have the option to extend both the leases for another ten year term and for one facility, we have the right of first refusal on any sale. We have exercised the option to extend the lease that expires in 2013. We lease an additional office facility under a month-to-month arrangement. Future minimum payments for the next five years and thereafter as of December 31, 2012, under these leases, are as follows:</p> <p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <table style="width: 90%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; width: 87%; color: black;">2013</td> <td style="width: 1%; color: black;">&#160;</td> <td style="text-align: left; width: 1%; color: black;">$</td> <td style="text-align: right; width: 10%; color: black;">244,828</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; color: black;">2014</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">263,136</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; color: black;">2015</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">263,136</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; color: black;">2016</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">263,136</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; color: black;">2017</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">263,136</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; padding-bottom: 1pt; color: black;">Thereafter</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">$</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">997,264</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; color: black;">Total</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">2,294,636</td> <td style="text-align: left; color: black;">&#160;</td> </tr> </table> <p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">Rent expense was approximately $298,000 and $215,000 for the years ended December 31, 2012 and 2011, respectively. Rent expense is determined using the straight-line method of the minimum expected rent paid over the term of the agreement. We have no contingent rent agreements.</p> <p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>Indemnifications</b></p> <p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">Our arrangements generally include limited warranties and certain provisions for indemnifying customers against liabilities if our products or services infringe a third-party's intellectual property rights. To date, we have not incurred any material costs as a result of such warranties or indemnifications and have not accrued any liabilities related to such obligations in the accompanying financial statements.</p> <p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">We have also agreed to indemnify our directors and executive officers for costs associated with any fees, expenses, judgments, fines and settlement amounts incurred by any of these persons in any action or proceeding to which any of those persons is, or is threatened to be, made a party by reason of the person's service as a director or officer, including any action by us, arising out of that person's services as our director or officer or that person's services provided to any other company or enterprise at our request.</p> <p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>Litigation</b></p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">On April 4, 2012, Bacterin International, Inc. filed suit against SeaArk Capital, LLC and its principal, Mark Bartosh, seeking recovery of $1,648,993.58 for product delivered to SeaArk in 2011.&#160; The case is pending in the United States District Court of the Eastern District of Pennsylvania and the parties are engaged in settlement negotiations.&#160; In connection with this litigation, Bacterin also filed a motion for a prejudgment writ of replevin or attachment in the Third Judicial District Court in the State of Utah to recover product previously sold to SeaArk.&#160; The Utah case was removed to the United States District Court for the District of Utah and Bacterin&#8217;s motion for prejudgment writ was granted.&#160; SeaArk has returned all Bacterin products previously stored in Utah.</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">On April 19, 2012, Bacterin International, Inc. filed a lawsuit in federal court in Dallas, Texas, seeking injunctive relief and damages against Shantal Howell, a former regional vice president of the company.&#160; The suit arises out of the former employee&#8217;s breach of contract, breach of fiduciary duties, interference with Bacterin&#8217;s business relationships, and misappropriation of Bacterin&#8217;s trade secrets.&#160; On June 8, 2012, Howell asserted a counterclaim against Bacterin for breach of contract and defamation, seeking damages for allegedly owed commissions and loss of business.&#160; The parties entered into a settlement agreement in January of 2013 whereby Ms. Howell agreed to pay Bacterin $15,000, and Ms. Howell also agreed not to compete with Bacterin or solicit customers of Bacterin for one year.</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">(12)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Income Taxes</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">The Company&#8217;s provision for income taxes differs from applying the statutory U.S. federal income tax rate to income before taxes. The primary difference results from providing for state income taxes and from deducting certain expenses for financial statement purposes but not for federal income tax purposes.</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">The components of income (loss) before provision for income taxes consist of the following:</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <table style="width: 80%; border-collapse: collapse; font: 10pt times new roman, times, serif; margin-left: 0.5in;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td nowrap="nowrap">&#160;</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center; color: black;" colspan="6" nowrap="nowrap">Year Ended December 31,</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> </tr> <tr style="vertical-align: bottom;"> <td nowrap="nowrap">&#160;</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center; color: black;" colspan="2" nowrap="nowrap">2012</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center; color: black;" colspan="2" nowrap="nowrap">2011</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> </tr> <tr style="vertical-align: bottom;"> <td>&#160;</td> <td>&#160;</td> <td style="text-align: center;" colspan="2">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: center;" colspan="2">&#160;</td> <td>&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; padding-bottom: 1pt; width: 74%; color: black;">United States</td> <td style="padding-bottom: 1pt; width: 1%; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; width: 1%; color: black;">$</td> <td style="border-bottom: black 1pt solid; text-align: right; width: 10%; color: black;">(7,713,822</td> <td style="text-align: left; padding-bottom: 1pt; width: 1%; color: black;">)</td> <td style="padding-bottom: 1pt; width: 1%; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; width: 1%; color: black;">$</td> <td style="border-bottom: black 1pt solid; text-align: right; width: 10%; color: black;">(3,006,469</td> <td style="text-align: left; padding-bottom: 1pt; width: 1%; color: black;">)</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td>&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="padding-bottom: 2.5pt;">&#160;</td> <td style="padding-bottom: 2.5pt; color: black;">&#160;</td> <td style="border-bottom: black 2.5pt double; text-align: left; color: black;">$</td> <td style="border-bottom: black 2.5pt double; text-align: right; color: black;">(7,713,822</td> <td style="text-align: left; padding-bottom: 2.5pt; color: black;">)</td> <td style="padding-bottom: 2.5pt; color: black;">&#160;</td> <td style="border-bottom: black 2.5pt double; text-align: left; color: black;">$</td> <td style="border-bottom: black 2.5pt double; text-align: right; color: black;">(3,006,469</td> <td style="text-align: left; padding-bottom: 2.5pt; color: black;">)</td> </tr> </table> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">The components of the income tax provision are as follows:</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <table style="width: 80%; border-collapse: collapse; font: 10pt times new roman, times, serif; margin-left: 0.5in;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td nowrap="nowrap">&#160;</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center; color: black;" colspan="6" nowrap="nowrap">Year Ended December 31,</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> </tr> <tr style="vertical-align: bottom;"> <td nowrap="nowrap">&#160;</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center; color: black;" colspan="2" nowrap="nowrap">2012</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center; color: black;" colspan="2" nowrap="nowrap">2011</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> </tr> <tr style="vertical-align: bottom;"> <td>&#160;</td> <td>&#160;</td> <td style="text-align: center;" colspan="2">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: center;" colspan="2">&#160;</td> <td>&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="width: 74%; color: black;">Current:</td> <td style="width: 1%;">&#160;</td> <td style="text-align: left; width: 1%;"></td> <td style="text-align: right; width: 10%;"></td> <td style="text-align: left; width: 1%;">&#160;</td> <td style="width: 1%;">&#160;</td> <td style="text-align: left; width: 1%;"></td> <td style="text-align: right; width: 10%;"></td> <td style="text-align: left; width: 1%;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="padding-left: 0.125in; color: black;">Federal</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">-</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">-</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="padding-bottom: 1pt; padding-left: 0.125in; color: black;">State</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">-</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">&#160;</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">-</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 0.25in; color: black;">Total current</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">-</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">&#160;</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">-</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td>&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="color: black;">Deferred:</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="padding-left: 0.125in; color: black;">Federal</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">-</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">-</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="padding-bottom: 1pt; padding-left: 0.125in; color: black;">State</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">-</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">&#160;</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">-</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 0.25in; color: black;">Total deferred</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">-</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">&#160;</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">-</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td>&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="padding-bottom: 2.5pt;">&#160;</td> <td style="padding-bottom: 2.5pt; color: black;">&#160;</td> <td style="border-bottom: black 2.5pt double; text-align: left; color: black;">$</td> <td style="border-bottom: black 2.5pt double; text-align: right; color: black;">-</td> <td style="text-align: left; padding-bottom: 2.5pt; color: black;">&#160;</td> <td style="padding-bottom: 2.5pt; color: black;">&#160;</td> <td style="border-bottom: black 2.5pt double; text-align: left; color: black;">$</td> <td style="border-bottom: black 2.5pt double; text-align: right; color: black;">-</td> <td style="text-align: left; padding-bottom: 2.5pt; color: black;">&#160;</td> </tr> </table> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">The reconciliation of income tax attributable to operations computed at the U.S. Federal statutory income tax rate of 35% to income tax expense is as follows:</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <table style="width: 80%; border-collapse: collapse; font: 10pt times new roman, times, serif; margin-left: 0.5in;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td nowrap="nowrap">&#160;</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center; color: black;" colspan="6" nowrap="nowrap">Year Ended December 31,</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> </tr> <tr style="vertical-align: bottom;"> <td nowrap="nowrap">&#160;</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center; color: black;" colspan="2" nowrap="nowrap">2012</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center; color: black;" colspan="2" nowrap="nowrap">2011</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; width: 74%; color: black;">Statutory Federal tax rate</td> <td style="width: 1%; color: black;">&#160;</td> <td style="text-align: left; width: 1%; color: black;">$</td> <td style="text-align: right; width: 10%; color: black;">(2,699,838</td> <td style="text-align: left; width: 1%; color: black;">)</td> <td style="width: 1%; color: black;">&#160;</td> <td style="text-align: left; width: 1%; color: black;">$</td> <td style="text-align: right; width: 10%; color: black;">(1,052,264</td> <td style="text-align: left; width: 1%; color: black;">)</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; color: black;">Valuation allowance</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">2,789,646</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">3,729,905</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; color: black;">State income taxes, net of Federal benefit</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">(443,236</td> <td style="text-align: left; color: black;">)</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">(172,752</td> <td style="text-align: left; color: black;">)</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; color: black;">Change in state income tax rate</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">823,665</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">-</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; color: black;">Change in Warrant Derivative Liability</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">(554,211</td> <td style="text-align: left; color: black;">)</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">(2,598,646</td> <td style="text-align: left; color: black;">)</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; padding-bottom: 1pt; color: black;">Nondeductible meals &amp; entertainment expense</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">83,974</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">&#160;</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">93,757</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td>&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="padding-bottom: 2.5pt;">&#160;</td> <td style="padding-bottom: 2.5pt; color: black;">&#160;</td> <td style="border-bottom: black 2.5pt double; text-align: left; color: black;">$</td> <td style="border-bottom: black 2.5pt double; text-align: right; color: black;">-</td> <td style="text-align: left; padding-bottom: 2.5pt; color: black;">&#160;</td> <td style="padding-bottom: 2.5pt; color: black;">&#160;</td> <td style="border-bottom: black 2.5pt double; text-align: left; color: black;">$</td> <td style="border-bottom: black 2.5pt double; text-align: right; color: black;">-</td> <td style="text-align: left; padding-bottom: 2.5pt; color: black;">&#160;</td> </tr> </table> <p style="margin: 0px;"></p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">Deferred tax components are as follows:</p> <p style="margin: 0px;">&#160;</p> <table style="width: 85%; border-collapse: collapse; font: 10pt times new roman, times, serif; margin-left: 0.5in;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td style="padding-bottom: 1pt;">&#160;</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center; color: black;" colspan="6">At December 31,</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> </tr> <tr style="vertical-align: bottom;"> <td style="padding-bottom: 1pt;">&#160;</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center; color: black;" colspan="2">2012</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center; color: black;" colspan="2">2011</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> </tr> <tr style="vertical-align: bottom;"> <td>&#160;</td> <td>&#160;</td> <td style="text-align: center;" colspan="2">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: center;" colspan="2">&#160;</td> <td>&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; color: black;">Deferred tax assets:</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; padding-left: 9pt; color: black;">Current deferred tax assets</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; padding-left: 0.25in; width: 74%; color: black;">Accrued liability for vacation</td> <td style="width: 1%; color: black;">&#160;</td> <td style="text-align: left; width: 1%; color: black;">$</td> <td style="text-align: right; width: 10%; color: black;">75,442</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> <td style="width: 1%; color: black;">&#160;</td> <td style="text-align: left; width: 1%; color: black;">$</td> <td style="text-align: right; width: 10%; color: black;">78,972</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; padding-left: 0.25in; color: black;">Bad debt reserve</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">642,546</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">540,462</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; padding-left: 0.25in; color: black;">Charitable contributions carrforward</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">19,686</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">14,835</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; padding-left: 0.25in; color: black;">Inventory reserve</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">456,026</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">362,399</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 0.25in; color: black;">Restricted stock compensation</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">94,212</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">&#160;</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">266,957</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; padding-left: 9pt; color: black;">Total current deferred tax assets</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">1,287,912</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">1,263,625</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 0.25in; color: black;">Valuation Allowance</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">(1,287,912</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">)</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">(1,263,625</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">)</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td>&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 9pt; color: black;">Net current deferred tax assets</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">-</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">&#160;</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">-</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="padding-left: 9pt;">&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; padding-left: 9pt; color: black;">Noncurrent deferred tax assets</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; padding-left: 0.25in; color: black;">Net operating loss carryovers</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">11,963,305</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">9,673,993</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; padding-left: 0.25in; color: black;">Stock warrants</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">139,549</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">-</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 0.25in; color: black;">Stock option compensation</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">1,023,192</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">&#160;</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">749,755</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; padding-left: 9pt; color: black;">Total noncurrent deferred tax assets</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">13,126,046</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">10,423,748</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 0.25in; color: black;">Valuation allowance</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">(13,172,543</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">)</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">(10,407,184</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">)</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td>&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 9pt; color: black;">Net noncurrent deferred tax assets</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">(46,497</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">)</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">16,564</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td>&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; color: black;">Deferred tax liabilities:</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; padding-left: 9pt; color: black;">Goodwill Amortization</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">(11,346</td> <td style="text-align: left; color: black;">)</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">(3,782</td> <td style="text-align: left; color: black;">)</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="padding-left: 9pt; color: black;">Depreciation</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">31,055</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">(31,037</td> <td style="text-align: left; color: black;">)</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="padding-bottom: 1pt; padding-left: 9pt; color: black;">Amortization</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">26,788</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">&#160;</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">18,255</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td>&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 0.25in; color: black;">Total deferred tax liabilities</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">46,497</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">&#160;</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">(16,564</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">)</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="padding-left: 0.25in;">&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 0.25in; color: black;">Net deferred tax assets</td> <td style="padding-bottom: 2.5pt; color: black;">&#160;</td> <td style="border-bottom: black 2.5pt double; text-align: left; color: black;">$</td> <td style="border-bottom: black 2.5pt double; text-align: right; color: black;">-</td> <td style="text-align: left; padding-bottom: 2.5pt; color: black;">&#160;</td> <td style="padding-bottom: 2.5pt; color: black;">&#160;</td> <td style="border-bottom: black 2.5pt double; text-align: left; color: black;">$</td> <td style="border-bottom: black 2.5pt double; text-align: right; color: black;">-</td> <td style="text-align: left; padding-bottom: 2.5pt; color: black;">&#160;</td> </tr> </table> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">The ultimate realization of deferred tax assets is dependent upon the existence, or generation, of taxable income in the periods when those temporary differences and net operating loss carryovers are deductible. Management considers the scheduled reversal of deferred tax liabilities, taxes paid in carryover years, projected future taxable income, available tax planning strategies, and other factors in making this assessment. Based on available evidence, management does not believe it is more likely than not that all of the deferred tax assets will be realized. Accordingly, the Company has established a valuation allowance equal to the net realizable deferred tax assets. The valuation allowance increased by $2,789,646 in 2012 and decreased by $2,041,543 in 2011.</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">At December 31, 2012 and 2011, the Company had total domestic Federal and state net operating loss carryovers of approximately $29,360,685 and $22,069,461, respectively. Federal net operating loss carryovers expire at various dates between 2024 and 2032, while state net operating loss carryovers expire between 2024 and 2032.</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">Under the Tax Reform Act of 1986, as amended, the amounts of and benefits from net operating loss carryovers and research and development credits may be impaired or limited in certain circumstances. Events which cause limitations in the amount of net operating losses that the Company may utilize in any one year include, but are not limited to, a cumulative ownership change of more than 50%, as defined, over a three year period. The Company does not believe that such an ownership change has occurred in 2012 or 2011.</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">The 2009 through 2011 tax years remain open to examination by the Internal Revenue Service and the 2007 to 2011 tax years remain open to the Montana Department of Revenue and various other state tax agencies. These taxing authorities have the authority to examine those tax years until the applicable statute of limitations expire.</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">The Company did not recognize any interest or penalties related to income taxes for the years ended December 31, 2012 and 2011.</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">(13)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Employee Benefit Plans</p><p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p><p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">As of January 1, 2011, we switched from a SIMPLE IRA to a 401(k) retirement plan.&#160; Qualified employees may defer their salary and the deferrals are matched up to 2%.&#160; The plan covers substantially all full-time employees.&#160; Under the terms of the plan, participants may contribute up to the lower of $16,500 of their salary or the statutorily prescribed limit to the plan.&#160; Employees are eligible after six months of employment and may enroll twice a year in January and July.</p> <table style="margin-top: 0px; font: 10pt times new roman, times, serif; margin-bottom: 0px;" cellspacing="0" cellpadding="0"> <tr style="text-align: justify; vertical-align: top;"> <td style="width: 0in;"></td> <td style="text-align: left; width: 0.5in;">(14)</td> <td style="text-align: justify;">Supplemental Disclosure of Cash Flow Information</td> </tr> </table> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">Supplemental cash flow information is as follows:</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <table style="width: 95%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td nowrap="nowrap">&#160;</td> <td style="color: black;" nowrap="nowrap">&#160;</td> <td style="text-align: center; color: black;" colspan="6" nowrap="nowrap">Year&#160;ended</td> <td style="color: black;" nowrap="nowrap">&#160;</td> </tr> <tr style="vertical-align: bottom;"> <td nowrap="nowrap">&#160;</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center; color: black;" colspan="6" nowrap="nowrap">December 31,</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> </tr> <tr style="vertical-align: bottom;"> <td nowrap="nowrap">&#160;</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center; color: black;" colspan="2" nowrap="nowrap">2012</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center; color: black;" colspan="2" nowrap="nowrap">2011</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; color: black;">Supplemental disclosure of cash flow information</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; color: black;">Cash paid during the period for:</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="width: 74%; color: black;">Interest</td> <td style="width: 1%; color: black;">&#160;</td> <td style="text-align: left; width: 1%; color: black;">$</td> <td style="text-align: right; width: 10%; color: black;">1,873,155</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> <td style="width: 1%; color: black;">&#160;</td> <td style="text-align: left; width: 1%; color: black;">$</td> <td style="text-align: right; width: 10%; color: black;">1,039,703</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; color: black;">Income taxes</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">-</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">-</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="color: black;">Non-cash activities:</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="color: black;">Non-cash consulting expense</td> <td>&#160;</td> <td style="text-align: left;">$</td> <td style="text-align: right;">427,787</td> <td style="text-align: left;">&#160;</td> <td>&#160;</td> <td style="text-align: left;">$</td> <td style="text-align: right;">1,675,008</td> <td style="text-align: left;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; color: black;">Acquisition contingent consideration</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">-</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">450,166</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; color: black;">Warrants issued with debt</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">220,872</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">227,388</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; color: black;">Issuance of stock for business acquisition</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">-</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">1,000,000</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; color: black;">Conversion of accounts payable into common stock</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">-</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">600,000</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; color: black;">Decrease in warrant derivative liability due to warrant exercises</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">-</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">968,554</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; color: black;">Capital lease acquisition</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">350,986</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">116,263</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="color: black;">Issuance of warrants</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">220,872</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">-</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; color: black;">Debt discount related to financing</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">7,341,520</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">-</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; color: black;">Royalty liability related to financing</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">7,341,520</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">-</td> <td style="text-align: left; color: black;"></td> </tr> </table> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <table style="margin-top: 0px; font: 10pt times new roman, times, serif; margin-bottom: 0px;" cellspacing="0" cellpadding="0"> <tr style="text-align: justify; vertical-align: top;"> <td style="width: 0in;"></td> <td style="text-align: left; width: 0.5in;">(15)</td> <td style="text-align: justify;">Related Party Transactions</td> </tr> </table> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">Guy Cook, our President and Chief Executive Officer, serves as a board member of West Coast Tissue Services (&#8220;WCTS&#8221;) and formerly served as a director for American Donor Services (&#8220;ADS&#8221;). Mr. Cook has not received any compensation for his board service for either entity. Mitchell Godfrey, a director, is on the board of ADS and also serves as secretary and treasurer for ADS. Mr. Godfrey received $5,000 for his service to ADS in 2012 and no compensation from ADS in 2011. Mr. Cook&#8217;s spouse performed bookkeeping and accounting services for ADS in 2011, but she received no compensation for her services. Mr. Cook&#8217;s spouse is also employed by Bacterin as the Director of Human Resources.</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"><font style="font-size: 10pt;">ADS and WCTS recover tissue from donors.&#160; We reimburse them for their recovery fees, which are comprised primarily of labor costs.&#160;The approximate aggregate amount of all transactions with WCTS was $510,500 for 2011 and $</font>525,900<font style="font-size: 10pt;"> for 2012, and the approximate aggregate amount of all transactions with ADS was $1,765,908 for 2011 and $</font>1,472,949<font style="font-size: 10pt;"> for 2012. These relationships benefit us, and thus Msrs. Cook and Godfrey, as these entities provide us with donors, thus insuring that we have a pipeline of current and future donors, which is necessary to our success. <font style="color: black;">As of December 31, 2012, we had an accounts payable balance of $418,922 to American Donor Services.</font></font></p> <p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;"><font style="color: black;">On June 27, 2012, the Board of Directors granted a waiver of certain provisions of the Company&#8217;s Code of Conduct to allow an entity controlled by two of the CEO&#8217;s adult children to become a distributor of the Company&#8217;s products.&#160; This entity acquired inventory from Allograft Tissue Management, a non-affiliated distributor that had previously acquired inventory from the Company.&#160;</font> The affiliated distributor, Silver Forest Fund, LP, exchanged products initially purchased from the non-affiliated distributor for different Bacterin products of equivalent value. Other than product exchanges and payment of amounts owed by the non-affiliated distributor, there have been no other direct transactions between Bacterin and the affiliated distributor. Mr. Cook pledged 1,850,000 of his shares of Bacterin stock as collateral for loans made to the affiliated distributor by independent third parties.</p> <table style="margin-top: 0px; font: 10pt times new roman, times, serif; margin-bottom: 0px;" cellspacing="0" cellpadding="0"> <tr style="text-align: justify; vertical-align: top;"> <td style="width: 0in;"></td> <td style="text-align: left; width: 0.5in;">(16)</td> <td style="text-align: justify;">Subsequent Events</td> </tr> </table> <p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">On January 29, 2013, we received two warning letters from the Food and Drug Administration (&#8220;FDA&#8221;) related to our procedures to ensure compliance with regulatory requirements.&#160; The concerns included (i) procedures for implementing corrective and preventative action; (ii) procedures for receiving, reviewing and evaluating complaints; (iii) procedures related to changes to a specification, method, process or procedure; (iv) procedures to ensure that purchased or otherwise received products or services conform to specified requirements; (v) procedures to control documents; (vi) procedures to identify training needs and to ensure all personnel are trained to adequately perform assigned responsibilities; (vii) procedures related to medical device reporting; (viii) procedures to control product that does not conform to specified requirements; (ix) procedures for finished device acceptance; and (x) marketing materials related to our Elutia wound drain.&#160; The company has responded to the warning letters and is committed to actively working with the FDA to address their concerns.&#160;</p> <p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">On February 11, 2013, we received a subpoena from the Office of the Inspector General of the U.S. Department of Health and Human Services (&#8220;OIG&#8221;) in connection with an investigation into possible false or otherwise improper claims submitted to Medicare. The subpoena requests documents related to physician referral programs operated by the Company, which we believe refers to the Company&#8217;s prior practice of compensating physicians for performing certain educational and promotional services on behalf of the Company. This program was discontinued in 2010 and involved payments to only a small number of physicians that we believe were made in accordance with all applicable laws. We intend to cooperate with the OIG&#8217;s investigation.</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>Business Description</b></p><p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p><p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">The accompanying consolidated financial statements include the accounts of Bacterin International Holdings, Inc., a Delaware corporation, and its wholly owned subsidiary, Bacterin International, Inc., a Nevada corporation, (collectively, the &#8220;Company&#8221; or &#8220;Bacterin&#8221;). All intercompany balances and transactions have been eliminated in consolidation. Bacterin&#8217;s biologics division develops, manufactures and markets biologics products to domestic and international markets.&#160;&#160;Bacterin&#8217;s proprietary methods are used in human allografts to create stem cell scaffolds and promote bone and other tissue growth.&#160;&#160;These products are used in a variety of applications including enhancing fusion in spine surgery, relief of back pain with a facet joint stabilization, promotion of bone growth in foot and ankle surgery, promotion of skull healing following neurosurgery and regeneration in knee and other joint surgeries.</p><p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p><p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">Bacterin&#8217;s device division develops bioactive coatings based upon proprietary knowledge of the phenotypical changes made by microbes as they sense and adapt to changes in their environment. Bacterin develops, employs, and licenses bioactive coatings for various medical device applications.&#160;&#160;</p><p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p><p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">An operating segment is a component of an enterprise whose operating results are regularly reviewed by the enterprise&#8217;s chief operating decision maker to make decisions about resources to be allocated to the segment and assess its performance. The primary performance measure used by management is net income or loss. The Company operates in two distinct lines of business consisting of the biologics and devices divisions. However, due to the immaterial revenue from devices to date, the Company reports as one segment.</p><p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p><p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">The Company's revenue is derived principally from the sale or license of its medical products, coatings and device implants. The markets in which the Company competes are highly competitive and rapidly changing. Significant technological advances, changes in customer requirements, or the emergence of competitive products with new capabilities or technologies could adversely affect the Company's operating results. The Company's business could be harmed by a decline in demand for, or in the prices of, its products or as a result of, among other factors, any change in pricing or distribution model, increased price competition, changes in government regulations or a failure by the Company to keep up with technological change.&#160;&#160;Further, a decline in available tissue donors could have an adverse impact on the business.</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>Presentation</b></p><p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>&#160;</b></p><p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">Certain amounts in the 2011 consolidated financial statements have been reclassified to conform to the 2012 presentation.</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>Concentrations</b>&#160;<b>and Credit Risk</b></p><p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p><p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">The Company&#8217;s accounts receivable are due from a variety of health care organizations and distributors throughout the world. Approximately 97% and 98% of sales were in the United States for 2012 and 2011, respectively. One customer accounted for approximately 5% and 6% of the Company&#8217;s revenue for 2012 and 2011, respectively.&#160;&#160;One customer represented 22% and 21% of accounts receivable at December 31, 2012 and 2011, respectively. The Company provides for uncollectible amounts when specific credit issues arise. Management&#8217;s estimates for uncollectible amounts have been adequate during prior periods, and management believes that all significant credit risks have been identified at December 31, 2012.</p><p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p><p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">Revenue by geographical region is as follows:</p><p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p><table style="width: 90%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td nowrap="nowrap">&#160;</td><td style="padding-bottom: 1pt;" nowrap="nowrap">&#160;</td><td style="border-bottom: black 1pt solid; text-align: center;" colspan="6" nowrap="nowrap">Year ended <br />December 31,</td><td style="padding-bottom: 1pt;" nowrap="nowrap">&#160;</td></tr><tr style="vertical-align: bottom;"><td nowrap="nowrap">&#160;</td><td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td><td style="border-bottom: black 1pt solid; text-align: center; color: black;" colspan="2" nowrap="nowrap">2012</td><td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td><td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td><td style="border-bottom: black 1pt solid; text-align: center; color: black;" colspan="2" nowrap="nowrap">2011</td><td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td></tr><tr style="background-color: #ccffcc; vertical-align: bottom;"><td style="text-align: left; width: 74%; color: black;">United States</td><td style="width: 1%; color: black;">&#160;</td><td style="text-align: left; width: 1%; color: black;">$</td><td style="text-align: right; width: 10%; color: black;">31,947,757</td><td style="text-align: left; width: 1%; color: black;">&#160;</td><td style="width: 1%; color: black;">&#160;</td><td style="text-align: left; width: 1%; color: black;">$</td><td style="text-align: right; width: 10%; color: black;">29,571,446</td><td style="text-align: left; width: 1%; color: black;">&#160;</td></tr><tr style="background-color: white; vertical-align: bottom;"><td style="padding-bottom: 1pt; color: black;">Rest of World</td><td style="padding-bottom: 1pt; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: right; color: black;">1,032,142</td><td style="text-align: left; padding-bottom: 1pt; color: black;">&#160;</td><td style="padding-bottom: 1pt; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: right; color: black;">578,036</td><td style="text-align: left; padding-bottom: 1pt; color: black;">&#160;</td></tr><tr style="background-color: #ccffcc; vertical-align: bottom;"><td style="padding-bottom: 2.5pt;">&#160;</td><td style="padding-bottom: 2.5pt; color: black;">&#160;</td><td style="border-bottom: black 2.5pt double; text-align: left; color: black;">$</td><td style="border-bottom: black 2.5pt double; text-align: right; color: black;">32,979,899</td><td style="text-align: left; padding-bottom: 2.5pt; color: black;">&#160;</td><td style="padding-bottom: 2.5pt; color: black;">&#160;</td><td style="border-bottom: black 2.5pt double; text-align: left; color: black;">$</td><td style="border-bottom: black 2.5pt double; text-align: right; color: black;">30,149,482</td><td style="text-align: left; padding-bottom: 2.5pt; color: black;">&#160;</td></tr></table> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>Use of Estimates</b></p><p style="text-align: center; margin-top: 0pt; font: 10pt times new roman, times, serif; margin-bottom: 0pt;">&#160;</p><p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">The preparation of the financial statements requires management of the Company to make a number of estimates and assumptions relating to the reported amount of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the period; the carrying amount of property and equipment and intangible assets; valuation allowances for trade receivables and deferred income tax assets; valuation of the warrant derivative liability; inventory reserve; contingent consideration from acquisitions; royalty liability; and estimates for the fair value of stock options grants and other equity awards upon which the Company determines stock-based compensation expense. Actual results could differ from those estimates.</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>Cash and Cash Equivalents</b></p><p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p><p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">The Company considers all highly liquid investments purchased with an original maturity date of three months or less to be cash equivalents.&#160;&#160;Cash equivalents are recorded at cost, which approximates market value. At times the Company maintains deposits in financial institutions in excess of federally insured limits.</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>Accounts Receivable</b></p><p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p><p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">Accounts receivable represents amounts due from customers for which revenue has been recognized. Normal terms on trade accounts receivable are net 30 days and some customers are offered discounts for early pay.&#160;&#160; The Company performs credit evaluations when considered necessary, but generally does not require collateral to extend credit.</p><p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p><p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">The allowance for doubtful accounts is the Company's best estimate of the amount of probable credit losses in the Company's existing receivables. The Company determines the allowance based on factors such as historical collection experience, customer's current creditworthiness, customer concentration, age of accounts receivable balance, general economic conditions that may affect a customer's ability to pay and management judgment. Actual customer collections could differ from estimates. Account balances are charged to the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. Provisions to the allowance for doubtful accounts are charged to expense. The Company does not have any off-balance sheet credit exposure related to its customers.</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>Accounts Payable - Related Party</b></p><p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p><div style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">Accounts payable to a related party included amounts due to American Donor Services, a supplier of donors to the Company. See Note 15, &#8220;Related Party Transactions&#8221; below.</div> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>Inventories</b></p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">Inventories are stated at the lower of cost or market.&#160;&#160;Cost is determined using the specific identification method and includes materials, labor and overhead. The Company calculates an inventory reserve for estimated obsolescence or excess inventory based on historical usage and sales, as well as assumptions about future demand for its products. These estimates for excess and obsolete inventory are reviewed and updated on a quarterly basis. Increases in the inventory reserves result in a corresponding expense, which is generally recorded to cost of tissue and medical devices sales. Inventories where the sales cycle is estimated to be beyond twelve months are classified as Non-current inventories.</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>Property and Equipment</b></p><p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p><p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">Property and equipment are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, generally three to seven years for computers and equipment, and 30 years for buildings. Leasehold improvements are depreciated over the shorter of their estimated useful life or the remaining term of the lease. Repairs and maintenance are expensed as incurred.</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>Goodwill</b></p> <p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">Goodwill represents the excess of costs over fair value of assets of businesses acquired. Goodwill and intangible assets acquired in a purchase business combination and determined to have indefinite useful lives are not amortized, instead are tested for impairment at least annually and whenever events or circumstances indicate the carrying amount of the asset may not be recoverable. In its evaluation of goodwill, the Company performs an assessment of qualitative factors to determine if it is more-likely-than-not that goodwill might be impaired and whether it is necessary to perform the two-step goodwill impairment. The Company conducts its annual impairment test on December 31 of each year. See Note 3, &#8220;Goodwill&#8221; below.</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>Derivative Instruments</b></p><p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p><p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">The Company accounts for its derivative instruments in accordance with Financial Accounting Standards Board (&#8220;FASB&#8221;) Accounting Standards Codification (&#8220;ASC&#8221;) 815 &#8220;Accounting for Derivative Instruments and Hedging Activities&#8221;. The only derivative instruments presented in the accompanying consolidated financial statements relates to warrants issued in connection with certain debt financings. The Company has not designated its warrant derivative liability as a hedging instrument as described in ASC 815 and any changes in the fair market value of the warrant derivative liability is recognized in the statement of operations during the period of change. See Note 10, &#8220;Warrants&#8221; below.</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>Intangible Assets</b></p><p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p><p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">Intangible assets with estimable useful lives must be amortized over their respective estimated useful lives to their estimated residual values, and reviewed for impairment whenever events or circumstances indicate their carrying amount may not be recoverable. Intangible assets include trademarks, customer lists and patents and include costs to acquire and protect Company patents. Intangible assets are carried at cost less accumulated amortization. The Company amortizes these assets on a straight-line basis over their estimated useful lives of five years for customer lists and 15 years for all other intangible assets.</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>Revenue Recognition</b></p><p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p><p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">Revenue is recognized when all of the following criteria are met: a) the Company has entered into a legally binding agreement with the customer; b) the products or services have been delivered; c) the Company's fee for providing the products and services is fixed or determinable; and d) collection of the Company&#8217;s fee is probable.</p><p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p><p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">The Company&#8217;s policy is to record revenue net of any applicable sales, use, or excise taxes.&#160;&#160;If an arrangement includes a right of acceptance or a right to cancel, revenue is recognized when acceptance is received or the right to cancel has expired.</p><p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p><p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">The Company ships to certain customers under consignment arrangements whereby the Company&#8217;s product is stored by the customer.&#160;&#160;The customer is required to report the use to the Company and upon such notice, the Company invoices the customer and revenue is recognized when above criteria has been met.</p><p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p><p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">The Company also receives royalty revenue from third parties related to licensing agreements. The Company has royalty agreements with Nufix, RyMed and Bard Access Systems. Revenue under these agreements represented less than 1% of total revenue for 2012 and 2011.</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>Non-Cash Consulting Expense</b></p><p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>&#160;</b></p><p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">From time to time, the Company issues restricted stock awards to consultants and advisors to the Company. These awards are measured at fair value at each reporting date, recognized ratably over the vesting period and are recorded in non-cash consulting expense.</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>Advertising Costs</b></p><p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p><p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">The Company expenses advertising costs as incurred. Advertising costs of approximately $51,000 and $81,000 were expensed for the years ended December 31, 2012 and 2011, respectively.</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>Research and Development</b></p><p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p><p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">Research and development costs, which are principally related to internal costs for the development of new technologies and processes for tissue and coatings, are expensed as incurred.</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>Income Taxes</b></p> <p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>&#160;</b></p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">The Company accounts for income taxes under the asset and liability method of accounting for deferred taxes as prescribed under FASB ASC 740, Accounting for Income Taxes.&#160;&#160;Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. When applicable, a valuation allowance is established to reduce any deferred tax asset when it is determined that it is more likely than not that some portion of the deferred tax asset will not be realized. ASC 740 also requires reporting of taxes based on tax positions that meet a more-likely-than-not standard and that are measured at the amount that is more-likely-than-not to be realized. Differences between financial and tax reporting which do not meet this threshold are required to be recorded as unrecognized tax benefits. ASC 740 also provides guidance on the presentation of tax matters and the recognition of potential IRS interest and penalties. The Company classifies penalty and interest expense related to income tax liabilities as an income tax expense. There are no significant interest and penalties recognized in the statement of operations or accrued on the balance sheet. See Note 12, &#8220;Income Taxes&#8221; below.</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>Long-Lived Assets</b></p><p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p><p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">Long-lived assets, including intangible assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to future net cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the estimated fair value of the assets. No impairment was recorded during the years ended December 31, 2012 or 2011.</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>Net Loss Per Share</b></p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">Basic net income (loss) per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding. Shares issued during the period and shares reacquired during the period are weighted for the portion of the period that they were outstanding. Diluted net income (loss) per share is computed in a manner consistent with that of basic earnings per share while giving effect to all potentially dilutive common shares outstanding during the period, which include the assumed exercise of stock options and warrants using the treasury stock method.&#160; Diluted net loss per share was the same as basic net loss per share for the years ended December 31, 2012 and 2011 as shares issuable upon the exercise of stock options and warrants were anti-dilutive as a result of the net losses incurred for those periods.</p> <div style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</div> <div style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">Dilutive earnings per share are not reported as their effects of including 5,266,535 and 5,008,670 outstanding stock options and warrants for the twelve months ended December 31, 2012 and 2011, respectively&#160;are anti-dilutive.</div> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>Stock-Based Compensation</b></p><p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p><p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;"><font style="font: 10pt times new roman, times, serif;">The Company records stock-compensation expense according to the provisions of ASC 718.&#160;&#160;Under ASC 718, stock-based compensation costs are recognized based on the estimated fair value at the grant date for all stock-based awards.&#160;&#160;The Company estimates grant date fair values using the Black-Scholes-Merton option pricing model, which requires assumptions of the life of the award and the stock price volatility over the term of the award.&#160;&#160;The Company records compensation cost of stock-based awards using the straight line method, which is recorded into earnings over the vesting period of the award.</font><font style="font: 10pt times new roman, times, serif;">Pursuant to the income tax provisions included in ASC 718-740, the Company has elected the &#8220;short cut method&#8221; of computing its hypothetical pool of additional paid-in capital that is available to absorb future tax benefit shortfalls.</font></p><p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>Fair Value of Financial Instruments</b></p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">The carrying values of financial instruments, including trade accounts receivable, accounts payable, other accrued expenses and long-term debt, approximate their fair values based on terms and related interest rates.</p> <p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">We follow a framework for measuring fair value. The framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are described below:</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">Level 1: Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets.</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">Level 2: Inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">Level 3: Inputs to the valuation methodology are unobservable and significant to the fair value measurement.</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">A financial instrument's level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. During the twelve months ended December 31, 2012 and 2011, there was no reclassification in financial assets or liabilities between Level 1, 2 or 3 categories.</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">The following tables set forth by level, within the fair value hierarchy, our assets and liabilities as of December 31, 2012 and December 31, 2011 that are measured at fair value on a recurring basis:</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-indent: 0.5in; margin: 0pt 0px 0pt -0.5in; font: 10pt times new roman, times, serif;">Accrued stock compensation</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <table align="center" style="width: 80%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td style="text-align: left;" nowrap="nowrap"></td> <td nowrap="nowrap">&#160;</td> <td style="text-align: center;" colspan="2" nowrap="nowrap">As&#160;of <br />December&#160;31, <br />2012</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td style="text-align: center;" colspan="2" nowrap="nowrap">As&#160;of <br />December&#160;31, <br />2011</td> <td nowrap="nowrap">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="color: black;">Level 1</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">218,850</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">608,933</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="color: black;">Level 2</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">-</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">-</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="width: 74%; color: black;">Level 3</td> <td style="width: 1%; color: black;">&#160;</td> <td style="text-align: left; width: 1%; color: black;">$</td> <td style="text-align: right; width: 10%; color: black;">-</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> <td style="width: 1%; color: black;">&#160;</td> <td style="text-align: left; width: 1%; color: black;">$</td> <td style="text-align: right; width: 10%; color: black;">-</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> </tr> </table> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"></p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">The valuation technique used to measure fair value of the accrued stock compensation is based on quoted stock market prices.</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"></p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;"></p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">Warrant derivative liability</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <table align="center" style="width: 80%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td style="text-align: center;" nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td style="text-align: center;" colspan="2" nowrap="nowrap">As&#160;of <br />December&#160;31, <br />2012</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td style="text-align: center;" colspan="2" nowrap="nowrap">As&#160;of <br />December&#160;31, <br />2011</td> <td nowrap="nowrap">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="color: black;">Level 1</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">-</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">-</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="color: black;">Level 2</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">-</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">-</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="width: 74%; color: black;">Level 3</td> <td style="width: 1%; color: black;">&#160;</td> <td style="text-align: left; width: 1%; color: black;">$</td> <td style="text-align: right; width: 10%; color: black;">984,356</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> <td style="width: 1%; color: black;">&#160;</td> <td style="text-align: left; width: 1%; color: black;">$</td> <td style="text-align: right; width: 10%; color: black;">2,344,516</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> </tr> </table> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">Acquisition contingent consideration liability</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <table align="center" style="width: 80%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td style="text-align: center;" nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td style="text-align: center;" colspan="2" nowrap="nowrap">As&#160;of <br />December&#160;31, <br />2012</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td style="text-align: center;" colspan="2" nowrap="nowrap">As&#160;of <br />December&#160;31, <br />2011</td> <td nowrap="nowrap">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="color: black;">Level 1</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">-</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">-</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="color: black;">Level 2</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">-</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">-</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="width: 74%; color: black;">Level 3</td> <td style="width: 1%; color: black;">&#160;</td> <td style="text-align: left; width: 1%; color: black;">$</td> <td style="text-align: right; width: 10%; color: black;">91,740</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> <td style="width: 1%; color: black;">&#160;</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> <td style="text-align: right; width: 10%; color: black;">450,166</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> </tr> </table> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">The valuation technique used to measure fair value of the warrant liability and contingent consideration is based on a lattice model and significant assumptions and inputs determined by us.</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">Level 3 Changes</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">The following is a reconciliation of the beginning and ending balances for liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the period ending December 31, 2012:</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;"><i>&#160;</i></p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;"><i>Warrant derivative liability</i></p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;"></p> <table style="width: 70%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="width: 80%; color: black;">Balance at January 1, 2012</td> <td style="width: 1%; color: black;">&#160;</td> <td style="text-align: left; width: 1%; color: black;">$</td> <td style="text-align: right; width: 17%; color: black;">2,344,516</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; padding-bottom: 1pt; color: black;">Gain recognized in earnings</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">(1,360,160</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">)</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="color: black;">Balance at December 31, 2012</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">984,356</td> <td style="text-align: left; color: black;">&#160;</td> </tr> </table> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;"><i>Acquisition contingent consideration liability</i></p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;"></p> <table style="width: 70%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="width: 80%; color: black;">Balance at January 1, 2012</td> <td style="width: 1%; color: black;">&#160;</td> <td style="text-align: left; width: 1%; color: black;">$</td> <td style="text-align: right; width: 17%; color: black;">450,166</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; padding-bottom: 1pt; color: black;">Gain recognized in earnings</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">(358,426</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">)</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="color: black;">Balance at December 31, 2012</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">91,740</td> <td style="text-align: left; color: black;">&#160;</td> </tr> </table> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">During the year ended December 31, 2012, the Company did not change any of the valuation techniques used to measure its liabilities at fair value.</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">Items measured at fair value on a non-recurring basis:</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">The Company&#8217;s royalty liability is carried at its estimated fair value based upon the discounted present value of the payments using an estimated discount rate.&#160; The Company did not have access to a readily traded market for similar credit risks and the estimated interest rate was based upon the Company&#8217;s estimate of a market interest rate to obtain similar financing.&#160; The Company originally discounted the $16.8 million of estimated payments at an interest rate of 16.7%. This was adjusted to an estimated royalty total of $13.8 million as of December 31, 2012.&#160; Accordingly, these inputs are classified as Level 3 inputs.</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;"><b>Recent Accounting Pronouncements</b></p><p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">There are no recently issued accounting standards for which the Company expects a material impact to its consolidated financial statements.</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">Revenue by geographical region is as follows:</p><p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</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;">&#160;</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: center; font: 10pt times new roman, times, serif;" colspan="6">Year ended December 31,</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif;">&#160;</td></tr><tr style="vertical-align: bottom;"><td style="font-size: 10pt;">&#160;</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: center; font: 10pt times new roman, times, serif; color: black;" colspan="2">2012</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: center; font: 10pt times new roman, times, serif; color: black;" colspan="2">2011</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr><tr style="background-color: #ccffcc; vertical-align: bottom;"><td style="text-align: left; width: 72%; font: 10pt times new roman, times, serif; color: black;">United States</td><td style="width: 2%; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; width: 1%; font: 10pt times new roman, times, serif; color: black;">$</td><td style="text-align: right; width: 10%; font: 10pt times new roman, times, serif; color: black;">31,947,757</td><td style="text-align: left; width: 1%; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="width: 2%; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; width: 1%; font: 10pt times new roman, times, serif; color: black;">$</td><td style="text-align: right; width: 10%; font: 10pt times new roman, times, serif; color: black;">29,571,446</td><td style="text-align: left; width: 1%; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr><tr style="background-color: white; vertical-align: bottom;"><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">Rest of World</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: right; font: 10pt times new roman, times, serif; color: black;">1,032,142</td><td style="text-align: left; padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: right; font: 10pt times new roman, times, serif; color: black;">578,036</td><td style="text-align: left; padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr><tr style="background-color: #ccffcc; vertical-align: bottom;"><td style="padding-bottom: 2.5pt; font-size: 10pt;">&#160;</td><td style="padding-bottom: 2.5pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 2.5pt double; text-align: left; font: 10pt times new roman, times, serif; color: black;">$</td><td style="border-bottom: black 2.5pt double; text-align: right; font: 10pt times new roman, times, serif; color: black;">32,979,899</td><td style="text-align: left; padding-bottom: 2.5pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="padding-bottom: 2.5pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 2.5pt double; text-align: left; font: 10pt times new roman, times, serif; color: black;">$</td><td style="border-bottom: black 2.5pt double; text-align: right; font: 10pt times new roman, times, serif; color: black;">30,149,482</td><td style="text-align: left; padding-bottom: 2.5pt; font: 10pt times new roman, times, serif; color: black;"></td></tr></table> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">The following tables set forth by level, within the fair value hierarchy, our assets and liabilities as of December 31, 2012 and December 31, 2010 that are measured at fair value on a recurring basis:</p><p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p><p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">Warrant derivative liability</p><p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</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="text-align: center; font-size: 10pt;">&#160;</td><td style="font: 10pt times new roman, times, serif;">&#160;</td><td style="text-align: center; font: 10pt times new roman, times, serif;" colspan="2">As&#160;of <br />December&#160;31, <br />2012</td><td style="font: 10pt times new roman, times, serif;">&#160;</td><td style="font: 10pt times new roman, times, serif;">&#160;</td><td style="text-align: center; font: 10pt times new roman, times, serif;" colspan="2">As&#160;of <br />December&#160;31, <br />2011</td><td style="font: 10pt times new roman, times, serif;">&#160;</td></tr><tr style="background-color: #ccffcc; vertical-align: bottom;"><td style="font: 10pt times new roman, times, serif; color: black;">Level 1</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">-</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">-</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr><tr style="background-color: white; vertical-align: bottom;"><td style="font: 10pt times new roman, times, serif; color: black;">Level 2</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">-</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">-</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr><tr style="background-color: #ccffcc; vertical-align: bottom;"><td style="width: 72%; font: 10pt times new roman, times, serif; color: black;">Level 3</td><td style="width: 2%; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; width: 1%; font: 10pt times new roman, times, serif; color: black;">$</td><td style="text-align: right; width: 10%; font: 10pt times new roman, times, serif; color: black;">984,356</td><td style="text-align: left; width: 1%; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="width: 2%; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; width: 1%; font: 10pt times new roman, times, serif; color: black;">$</td><td style="text-align: right; width: 10%; font: 10pt times new roman, times, serif; color: black;">2,344,516</td><td style="text-align: left; width: 1%; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr></table> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">Acquisition contingent consideration liability</p><p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</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="text-align: center; font-size: 10pt;">&#160;</td><td style="font: 10pt times new roman, times, serif;">&#160;</td><td style="text-align: center; font: 10pt times new roman, times, serif;" colspan="2">As&#160;of <br />December&#160;31, <br />2012</td><td style="font: 10pt times new roman, times, serif;">&#160;</td><td style="font: 10pt times new roman, times, serif;">&#160;</td><td style="text-align: center; font: 10pt times new roman, times, serif;" colspan="2">As&#160;of <br />December&#160;31, <br />2011</td><td style="font: 10pt times new roman, times, serif;">&#160;</td></tr><tr style="background-color: #ccffcc; vertical-align: bottom;"><td style="font: 10pt times new roman, times, serif; color: black;">Level 1</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">-</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">-</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr><tr style="background-color: white; vertical-align: bottom;"><td style="font: 10pt times new roman, times, serif; color: black;">Level 2</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">-</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">-</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr><tr style="background-color: #ccffcc; vertical-align: bottom;"><td style="width: 72%; font: 10pt times new roman, times, serif; color: black;">Level 3</td><td style="width: 2%; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; width: 1%; font: 10pt times new roman, times, serif; color: black;">$</td><td style="text-align: right; width: 10%; font: 10pt times new roman, times, serif; color: black;">91,740</td><td style="text-align: left; width: 1%; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="width: 2%; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; width: 1%; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: right; width: 10%; font: 10pt times new roman, times, serif; color: black;">450,166</td><td style="text-align: left; width: 1%; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr></table> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">The following is a reconciliation of the beginning and ending balances for liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the period ending December 31, 2012:</p><p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p><p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;"><i>Warrant derivative liability</i></p><table style="width: 100%; border-collapse: collapse;" cellspacing="0" cellpadding="0"><tr style="background-color: #ccffcc; vertical-align: bottom;"><td style="width: 86%; font: 10pt times new roman, times, serif; color: black;">Balance at January 1, 2012</td><td style="width: 2%; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; width: 1%; font: 10pt times new roman, times, serif; color: black;">$</td><td style="text-align: right; width: 10%; font: 10pt times new roman, times, serif; color: black;">2,344,516</td><td style="text-align: left; width: 1%; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr><tr style="background-color: white; vertical-align: bottom;"><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">Gain recognized in earnings</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">(1,360,160</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">)</td></tr><tr style="background-color: #ccffcc; vertical-align: bottom;"><td style="font: 10pt times new roman, times, serif; color: black;">Balance at December 31, 2012</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">$</td><td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">984,356</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr></table><p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p><p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;"><i>Acquisition contingent consideration liability</i></p><table style="width: 100%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"><tr style="background-color: #ccffcc; vertical-align: bottom;"><td style="width: 86%; font: 10pt times new roman, times, serif; color: black;">Balance at January 1, 2012</td><td style="width: 2%; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; width: 1%; font: 10pt times new roman, times, serif; color: black;">$</td><td style="text-align: right; width: 10%; font: 10pt times new roman, times, serif; color: black;">450,166</td><td style="text-align: left; width: 1%; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr><tr style="background-color: white; vertical-align: bottom;"><td style="text-align: left; padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">Gain recognized in earnings</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: right; font: 10pt times new roman, times, serif; color: black;">(358,426</td><td style="text-align: left; padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">)</td></tr><tr style="background-color: #ccffcc; vertical-align: bottom;"><td style="font: 10pt times new roman, times, serif; color: black;">Balance at December 31, 2012</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">$</td><td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">91,740</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr></table> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">The purchase price was allocated as follows:</p><p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p><table style="width: 100%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"><tr style="background-color: #ccffcc; vertical-align: bottom;"><td style="text-align: left; width: 86%; font: 10pt times new roman, times, serif; color: black;">Finished inventory</td><td style="width: 2%; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; width: 1%; font: 10pt times new roman, times, serif; color: black;">$</td><td style="text-align: right; width: 10%; font: 10pt times new roman, times, serif; color: black;">504,827</td><td style="text-align: left; width: 1%; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr><tr style="background-color: white; vertical-align: bottom;"><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">Customer list</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">157,077</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr><tr style="background-color: #ccffcc; vertical-align: bottom;"><td style="font: 10pt times new roman, times, serif; color: black;">Trademark</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">59,644</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr><tr style="background-color: white; vertical-align: bottom;"><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">Goodwill</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: right; font: 10pt times new roman, times, serif; color: black;">728,618</td><td style="text-align: left; padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr><tr style="background-color: #ccffcc; vertical-align: bottom;"><td style="font-size: 10pt;">&#160;</td><td style="font-size: 10pt;">&#160;</td><td style="text-align: left; font-size: 10pt;">&#160;</td><td style="text-align: right; font-size: 10pt;">&#160;</td><td style="text-align: left; font-size: 10pt;">&#160;</td></tr><tr style="background-color: white; vertical-align: bottom;"><td style="font: 10pt times new roman, times, serif; color: black;">Total purchase price</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">$</td><td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">1,450,166</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr></table> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">The consideration for the purchase price was made up of the following components:</p><p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p><table style="width: 100%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"><tr style="background-color: #ccffcc; vertical-align: bottom;"><td style="text-align: left; width: 86%; font: 10pt times new roman, times, serif; color: black;">Stock issued</td><td style="width: 2%; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; width: 1%; font: 10pt times new roman, times, serif; color: black;">$</td><td style="text-align: right; width: 10%; font: 10pt times new roman, times, serif; color: black;">1,000,000</td><td style="text-align: left; width: 1%; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr><tr style="background-color: white; vertical-align: bottom;"><td style="text-align: left; padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">Contingent consideration</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: right; font: 10pt times new roman, times, serif; color: black;">450,166</td><td style="text-align: left; padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr><tr style="background-color: #ccffcc; vertical-align: bottom;"><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">Total consideration</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">$</td><td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">1,450,166</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;"></td></tr></table> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">The useful lives of the Customer List and the Trademark are 5 years and 15 years, respectively resulting in the following amortization schedule:</p><p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p><table style="width: 80%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"><tr style="background-color: #ccffcc; vertical-align: bottom;"><td style="width: 80%;"><font style="font: 10pt times new roman, times, serif; color: black;">2013</font></td><td style="width: 1%;">&#160;</td><td style="width: 1%;">&#160;</td><td style="text-align: right; width: 17%;"><font style="font: 10pt times new roman, times, serif; color: black;">35,392</font></td><td style="width: 1%;">&#160;</td></tr><tr style="background-color: white; vertical-align: bottom;"><td><font style="font: 10pt times new roman, times, serif; color: black;">2014</font></td><td>&#160;</td><td>&#160;</td><td style="text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">35,392</font></td><td>&#160;</td></tr><tr style="background-color: #ccffcc; vertical-align: bottom;"><td><font style="font: 10pt times new roman, times, serif; color: black;">2015</font></td><td>&#160;</td><td>&#160;</td><td style="text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">35,392</font></td><td>&#160;</td></tr><tr style="background-color: white; vertical-align: bottom;"><td><font style="font: 10pt times new roman, times, serif; color: black;">2016</font></td><td>&#160;</td><td>&#160;</td><td style="text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">26,229</font></td><td>&#160;</td></tr><tr style="background-color: #ccffcc; vertical-align: bottom;"><td><font style="font: 10pt times new roman, times, serif; color: black;">2017</font></td><td>&#160;</td><td>&#160;</td><td style="text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">3,976</font></td><td>&#160;</td></tr><tr style="background-color: white; vertical-align: bottom;"><td><font style="font: 10pt times new roman, times, serif; color: black;">Thereafter</font></td><td>&#160;</td><td style="border-bottom: black 1pt solid;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">27,252</font></td><td>&#160;</td></tr><tr style="background-color: #ccffcc; vertical-align: bottom;"><td><font style="font: 10pt times new roman, times, serif; color: black;">Total</font></td><td>&#160;</td><td><font style="font: 10pt times new roman, times, serif; color: black;">$</font></td><td style="text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">163,633</font></td><td>&#160;</td></tr></table> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">Inventories consist of the following:</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <table style="width: 95%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td style="text-align: center;" colspan="6" nowrap="nowrap"><font style="font: 10pt times new roman, times, serif; color: black;">December 31,</font></td> <td nowrap="nowrap">&#160;</td> </tr> <tr style="vertical-align: bottom;"> <td style="width: 72%;" nowrap="nowrap"></td> <td style="width: 1%;" nowrap="nowrap">&#160;</td> <td style="border-bottom: black 1pt solid; width: 1%;" nowrap="nowrap">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center; width: 11%;" nowrap="nowrap"><font style="font: 10pt times new roman, times, serif; color: black;">2012</font></td> <td style="width: 1%;" nowrap="nowrap">&#160;</td> <td style="width: 1%;" nowrap="nowrap">&#160;</td> <td style="border-bottom: black 1pt solid; width: 1%;" nowrap="nowrap">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center; width: 11%;" nowrap="nowrap"><font style="font: 10pt times new roman, times, serif; color: black;">2011</font></td> <td style="width: 1%;" nowrap="nowrap">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td><font style="font: 10pt times new roman, times, serif; color: black;">Current inventories</font></td> <td>&#160;</td> <td style="padding-bottom: 1pt;">&#160;</td> <td style="text-align: center; padding-bottom: 1pt;">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="padding-bottom: 1pt;">&#160;</td> <td style="text-align: center; padding-bottom: 1pt;">&#160;</td> <td>&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td><font style="font: 10pt times new roman, times, serif; color: black;">Raw materials</font></td> <td>&#160;</td> <td><font style="font: 10pt times new roman, times, serif; color: black;">$</font></td> <td style="text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">1,919,250</font></td> <td>&#160;</td> <td>&#160;</td> <td><font style="font: 10pt times new roman, times, serif; color: black;">$</font></td> <td style="text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">1,612,901</font></td> <td>&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td><font style="font: 10pt times new roman, times, serif; color: black;">Work in process</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">4,991,032</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">2,586,047</font></td> <td>&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td><font style="font: 10pt times new roman, times, serif; color: black;">Finished goods</font></td> <td>&#160;</td> <td style="border-bottom: black 1pt solid;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">7,350,332</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 1pt solid;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">5,107,400</font></td> <td>&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">14,260,614</font></td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">9,306,348</font></td> <td>&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td><font style="font: 10pt times new roman, times, serif; color: black;">Reserve for obsolescence</font></td> <td>&#160;</td> <td style="border-bottom: black 1pt solid;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">(1,119,193</font></td> <td><font style="font: 10pt times new roman, times, serif; color: black;">)</font></td> <td>&#160;</td> <td style="border-bottom: black 1pt solid;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">(826,638</font></td> <td><font style="font: 10pt times new roman, times, serif; color: black;">)</font></td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td><font style="font: 10pt times new roman, times, serif; color: black;">Current inventories, total</font></td> <td>&#160;</td> <td><font style="font: 10pt times new roman, times, serif; color: black;">$</font></td> <td style="text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">13,141,421</font></td> <td>&#160;</td> <td>&#160;</td> <td><font style="font: 10pt times new roman, times, serif; color: black;">$</font></td> <td style="text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">8,479,710</font></td> <td>&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td><font style="font: 10pt times new roman, times, serif; color: black;">Non-current inventories</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right;">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right;">&#160;</td> <td>&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td><font style="font: 10pt times new roman, times, serif; color: black;">Finished goods</font></td> <td>&#160;</td> <td style="border-bottom: black 1pt solid;"><font style="font: 10pt times new roman, times, serif; color: black;">$</font></td> <td style="border-bottom: black 1pt solid; text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">1,238,225</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 1pt solid;"><font style="font: 10pt times new roman, times, serif; color: black;">$</font></td> <td style="border-bottom: black 1pt solid; text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">920,542</font></td> <td>&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td><font style="font: 10pt times new roman, times, serif; color: black;">Non-current inventories, total</font></td> <td>&#160;</td> <td style="border-bottom: black 1pt solid;"><font style="font: 10pt times new roman, times, serif; color: black;">$</font></td> <td style="border-bottom: black 1pt solid; text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">1,238,225</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 1pt solid;"><font style="font: 10pt times new roman, times, serif; color: black;">$</font></td> <td style="border-bottom: black 1pt solid; text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">920,542</font></td> <td>&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td><font style="font: 10pt times new roman, times, serif; color: black;">Total inventories</font></td> <td>&#160;</td> <td style="border-bottom: windowtext 1pt solid;"><font style="font: 10pt times new roman, times, serif; color: black;">$</font></td> <td style="border-bottom: windowtext 1pt solid; text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">14,379,646</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: windowtext 1pt solid;"><font style="font: 10pt times new roman, times, serif; color: black;">$</font></td> <td style="border-bottom: windowtext 1pt solid; text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">9,400,252</font></td> <td></td> </tr> </table> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">Property and equipment, net are as follows:</p><p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</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;">&#160;</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: center; font: 10pt times new roman, times, serif; color: black;" colspan="6">December 31,</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr><tr style="vertical-align: bottom;"><td style="font-size: 10pt;">&#160;</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: center; font: 10pt times new roman, times, serif; color: black;" colspan="2">2012</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: center; font: 10pt times new roman, times, serif; color: black;" colspan="2">2011</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr><tr style="background-color: #ccffcc; vertical-align: bottom;"><td style="width: 72%; font: 10pt times new roman, times, serif; color: black;">Buildings</td><td style="width: 2%; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; width: 1%; font: 10pt times new roman, times, serif; color: black;">$</td><td style="text-align: right; width: 10%; font: 10pt times new roman, times, serif; color: black;">1,653,263</td><td style="text-align: left; width: 1%; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="width: 2%; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; width: 1%; font: 10pt times new roman, times, serif; color: black;">$</td><td style="text-align: right; width: 10%; font: 10pt times new roman, times, serif; color: black;">1,653,263</td><td style="text-align: left; width: 1%; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr><tr style="background-color: white; vertical-align: bottom;"><td style="font: 10pt times new roman, times, serif; color: black;">Equipment</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">5,172,523</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">3,597,471</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr><tr style="background-color: #ccffcc; vertical-align: bottom;"><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">Computer equipment</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">312,650</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">392,375</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr><tr style="background-color: white; vertical-align: bottom;"><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">Computer software</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">392,206</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">228,054</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr><tr style="background-color: #ccffcc; vertical-align: bottom;"><td style="text-align: justify; font: 10pt times new roman, times, serif; color: black;">Furniture and fixtures</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">170,118</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">171,418</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr><tr style="background-color: white; vertical-align: bottom;"><td style="text-align: justify; font: 10pt times new roman, times, serif; color: black;">Leasehold improvements</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">1,793,756</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">1,357,218</td><td style="text-align: left; font: 10pt times new">&#160;</td></tr><tr style="background-color: #ccffcc; vertical-align: bottom;"><td style="text-align: justify; padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">Vehicles</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: right; font: 10pt times new roman, times, serif; color: black;">78,306</td><td style="text-align: left; padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: right; font: 10pt times new roman, times, serif; color: black;">68,306</td><td style="text-align: left; padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr><tr style="background-color: white; vertical-align: bottom;"><td style="text-align: justify; font: 10pt times new roman, times, serif; color: black;">Total cost</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">9,572,822</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">7,468,105</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr><tr style="background-color: #ccffcc; vertical-align: bottom;"><td style="text-align: justify; padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">Less: accumulated depreciation</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: right; font: 10pt times new roman, times, serif; color: black;">(4,337,955</td><td style="text-align: left; padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">)</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: right; font: 10pt times new roman, times, serif; color: black;">(3,693,965</td><td style="text-align: left; padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">)</td></tr><tr style="background-color: white; vertical-align: bottom;"><td style="padding-bottom: 1pt; font-size: 10pt;">&#160;</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: left; font: 10pt times new roman, times, serif; color: black;">$</td><td style="border-bottom: black 1pt solid; text-align: right; font: 10pt times new roman, times, serif; color: black;">5,234,867</td><td style="text-align: left; padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: left; font: 10pt times new roman, times, serif; color: black;">$</td><td style="border-bottom: black 1pt solid; text-align: right; font: 10pt times new roman, times, serif; color: black;">3,774,140</td><td style="text-align: left; padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;"></td></tr></table> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">The following table sets forth information regarding intangible assets:</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <table style="width: 95%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td nowrap="nowrap"></td> <td nowrap="nowrap">&#160;</td> <td style="border-bottom: black 1pt solid;" colspan="2" nowrap="nowrap"> <p style="text-align: center; margin: 0pt 0px; font: 10pt times new roman, times, serif;">December 31,<br />2012</p> </td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td style="border-bottom: black 1pt solid;" colspan="2" nowrap="nowrap"> <p style="text-align: center; margin: 0pt 0px; font: 10pt times new roman, times, serif;">December 31,<br />2011</p> </td> <td nowrap="nowrap">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td><font style="font: 10pt times new roman, times, serif; color: black;">Intellectual Property</font></td> <td>&#160;</td> <td style="padding-bottom: 1pt;" colspan="2">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="padding-bottom: 1pt;" colspan="2">&#160;</td> <td>&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="width: 72%;"><font style="font: 10pt times new roman, times, serif; color: black;">Gross carrying value</font></td> <td style="width: 1%;">&#160;</td> <td style="width: 1%;"><font style="font: 10pt times new roman, times, serif; color: black;">$</font></td> <td style="text-align: right; width: 11%;"><font style="font: 10pt times new roman, times, serif; color: black;">820,778</font></td> <td style="width: 1%;">&#160;</td> <td style="width: 1%;">&#160;</td> <td style="width: 1%;"><font style="font: 10pt times new roman, times, serif; color: black;">$</font></td> <td style="text-align: right; width: 11%;"><font style="font: 10pt times new roman, times, serif; color: black;">809,615</font></td> <td style="width: 1%;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td><font style="font: 10pt times new roman, times, serif; color: black;">Accumulated amortization</font></td> <td>&#160;</td> <td style="border-bottom: black 1pt solid;"><font style="font: 10pt times new roman, times, serif; color: black;">$</font></td> <td style="border-bottom: black 1pt solid; text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">(228,400</font></td> <td><font style="font: 10pt times new roman, times, serif; color: black;">)</font></td> <td>&#160;</td> <td style="border-bottom: black 1pt solid;"><font style="font: 10pt times new roman, times, serif; color: black;">$</font></td> <td style="border-bottom: black 1pt solid; text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">(153,482</font></td> <td><font style="font: 10pt times new roman, times, serif; color: black;">)</font></td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td><font style="font: 10pt times new roman, times, serif; color: black;">Net carrying value</font></td> <td>&#160;</td> <td style="border-bottom: black 1pt solid;"><font style="font: 10pt times new roman, times, serif; color: black;">$</font></td> <td style="border-bottom: black 1pt solid; text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">592,378</font></td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: black 1pt solid;"><font style="font: 10pt times new roman, times, serif; color: black;">$</font></td> <td style="border-bottom: black 1pt solid; text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">656,133</font></td> <td>&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right;">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right;">&#160;</td> <td>&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td><font style="font: 10pt times new roman, times, serif; color: black;">Aggregate amortization expense:</font></td> <td>&#160;</td> <td><font style="font: 10pt times new roman, times, serif; color: black;">$</font></td> <td style="text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">74,918</font></td> <td>&#160;</td> <td>&#160;</td> <td><font style="font: 10pt times new roman, times, serif; color: black;">$</font></td> <td style="text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">53,638</font></td> <td>&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right;">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right;">&#160;</td> <td>&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td><font style="font: 10pt times new roman, times, serif; color: black;">Estimated amortization expense:</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right;">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right;">&#160;</td> <td>&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right;">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right;">&#160;</td> <td>&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td><font style="font: 10pt times new roman, times, serif; color: black;">2013</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right;">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td><font style="font: 10pt times new roman, times, serif; color: black;">$</font></td> <td style="text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">74,918</font></td> <td>&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td><font style="font: 10pt times new roman, times, serif; color: black;">2014</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right;">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td><font style="font: 10pt times new roman, times, serif; color: black;">$</font></td> <td style="text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">74,918</font></td> <td>&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td><font style="font: 10pt times new roman, times, serif; color: black;">2015</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right;">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td><font style="font: 10pt times new roman, times, serif; color: black;">$</font></td> <td style="text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">74,918</font></td> <td>&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td><font style="font: 10pt times new roman, times, serif; color: black;">2016</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right;">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td><font style="font: 10pt times new roman, times, serif; color: black;">$</font></td> <td style="text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">74,918</font></td> <td>&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td><font style="font: 10pt times new roman, times, serif; color: black;">2017</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right;">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td><font style="font: 10pt times new roman, times, serif; color: black;">$</font></td> <td style="text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">74,918</font></td> <td>&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td><font style="font: 10pt times new roman, times, serif; color: black;">Thereafter</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right;">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="border-bottom: windowtext 1pt solid;"><font style="font: 10pt times new roman, times, serif; color: black;">$</font></td> <td style="border-bottom: windowtext 1pt solid; text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">217,788</font></td> <td>&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td><font style="font: 10pt times new roman, times, serif; color: black;">Total</font></td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: right;">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td><font style="font: 10pt times new roman, times, serif; color: black;">$</font></td> <td style="text-align: right;"><font style="font: 10pt times new roman, times, serif; color: black;">592,378</font></td> <td></td> </tr> </table> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">Accrued liabilities consist of the following:</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</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;">&#160;</td> <td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td> <td style="text-align: center; font: 10pt times new roman, times, serif; color: black;" colspan="6">December 31,</td> <td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td> </tr> <tr style="vertical-align: bottom;"> <td style="font-size: 10pt;">&#160;</td> <td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center; font: 10pt times new roman, times, serif; color: black;" colspan="2">2012</td> <td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td> <td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center; font: 10pt times new roman, times, serif; color: black;" colspan="2">2011</td> <td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; width: 72%; font: 10pt times new roman, times, serif; color: black;">Acquisition contingent liability</td> <td style="width: 2%; font: 10pt times new roman, times, serif; color: black;">&#160;</td> <td style="text-align: left; width: 1%; font: 10pt times new roman, times, serif; color: black;">$</td> <td style="text-align: right; width: 10%; font: 10pt times new roman, times, serif; color: black;">91,740</td> <td style="text-align: left; width: 1%; font: 10pt times new roman, times, serif; color: black;">&#160;</td> <td style="width: 2%; font: 10pt times new roman, times, serif; color: black;">&#160;</td> <td style="text-align: left; width: 1%; font: 10pt times new roman, times, serif; color: black;">$</td> <td style="text-align: right; width: 10%; font: 10pt times new roman, times, serif; color: black;">450,166</td> <td style="text-align: left; width: 1%; font: 10pt times new roman, times, serif; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">Accrued stock compensation</td> <td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td> <td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td> <td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">218,850</td> <td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td> <td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td> <td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td> <td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">608,933</td> <td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="font: 10pt times new roman, times, serif; color: black;">Wages/commissions payable</td> <td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td> <td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td> <td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">1,013,909</td> <td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td> <td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td> <td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td> <td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">1,289,827</td> <td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">Other accrued expenses</td> <td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; font: 10pt times new roman, times, serif; color: black;">1,075,591</td> <td style="text-align: left; padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td> <td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; font: 10pt times new roman, times, serif; color: black;">1,413,285</td> <td style="text-align: left; padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="padding-bottom: 1pt; font-size: 10pt;">&#160;</td> <td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; font: 10pt times new roman, times, serif; color: black;">$</td> <td style="border-bottom: black 1pt solid; text-align: right; font: 10pt times new roman, times, serif; color: black;">2,400,090</td> <td style="text-align: left; padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td> <td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; font: 10pt times new roman, times, serif; color: black;">$</td> <td style="border-bottom: black 1pt solid; text-align: right; font: 10pt times new roman, times, serif; color: black;">3,762,211</td> <td style="text-align: left; padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;"></td> </tr> </table> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">Long-term debt consists of the following:</p><p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</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;">&#160;</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: center; font: 10pt times new roman, times, serif;" colspan="2">December 31, <br />2012</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif;">&#160;</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: center; font: 10pt times new roman, times, serif;" colspan="2">December&#160;31, &#160; <br />&#160;2011</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif;">&#160;</td></tr><tr style="background-color: #ccffcc; vertical-align: bottom;"><td style="text-align: left; width: 72%; font: 10pt times new roman, times, serif; color: black;">Loan payable to ROS Acquisition Offshore, LIBOR plus 12.13% maturing August 2019</td><td style="width: 2%; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; width: 1%; font: 10pt times new roman, times, serif; color: black;">$</td><td style="text-align: right; width: 10%; font: 10pt times new roman, times, serif; color: black;">20,000,000</td><td style="text-align: left; width: 1%; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="width: 2%; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; width: 1%; font: 10pt times new roman, times, serif; color: black;">$</td><td style="text-align: right; width: 10%; font: 10pt times new roman, times, serif; color: black;">-</td><td style="text-align: left; width: 1%; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr><tr style="background-color: white; vertical-align: bottom;"><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">Loan payable to MidCap, LIBOR plus 7.5% maturing January 2015</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">-</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">4,666,667</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr><tr style="background-color: #ccffcc; vertical-align: bottom;"><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">Loan payable to SVB, LIBOR plus 7.5% maturing January 2015</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">-</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">2,333,333</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr><tr style="background-color: white; vertical-align: bottom;"><td style="text-align: left; padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">6.00% loan payable to Valley Bank of Belgrade, $10,746 monthly payments including interest, maturing December 24, 2030; secured by building</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: right; font: 10pt times new roman, times, serif; color: black;">1,421,420</td><td style="text-align: left; padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: right; font: 10pt times new roman, times, serif; color: black;">1,464,183</td><td style="text-align: left; padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr><tr style="background-color: #ccffcc; vertical-align: bottom;"><td style="font-size: 10pt;">&#160;</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">21,421,420</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">8,464,183</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr><tr style="background-color: white; vertical-align: bottom;"><td style="font-size: 10pt;">&#160;</td><td style="font-size: 10pt;">&#160;</td><td style="text-align: left; font-size: 10pt;">&#160;</td><td style="text-align: right; font-size: 10pt;">&#160;</td><td style="text-align: left; font-size: 10pt;">&#160;</td><td style="font-size: 10pt;">&#160;</td><td style="text-align: left; font-size: 10pt;">&#160;</td><td style="text-align: right; font-size: 10pt;">&#160;</td><td style="text-align: left; font-size: 10pt;">&#160;</td></tr><tr style="background-color: #ccffcc; vertical-align: bottom;"><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">Less: Current portion</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">(45,135</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">)</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">(1,632,978</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">)</td></tr><tr style="background-color: white; vertical-align: bottom;"><td style="text-align: left; padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">Debt discount</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: right; font: 10pt times new roman, times, serif; color: black;">(6,893,183</td><td style="text-align: left; padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">)</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: right; font: 10pt times new roman, times, serif; color: black;">(192,935</td><td style="text-align: left; padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">)</td></tr><tr style="background-color: #ccffcc; vertical-align: bottom;"><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">Long-term debt</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: left; font: 10pt times new roman, times, serif; color: black;">$</td><td style="border-bottom: black 1pt solid; text-align: right; font: 10pt times new roman, times, serif; color: black;">14,483,102</td><td style="text-align: left; padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: left; font: 10pt times new roman, times, serif; color: black;">$</td><td style="border-bottom: black 1pt solid; text-align: right; font: 10pt times new roman, times, serif; color: black;">6,638,270</td><td style="text-align: left; padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr></table> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">The following is a summary of maturities due on the debt as of December 31, 2012:</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <table style="width: 95%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; width: 87%; color: black;">2013</td> <td style="width: 1%; color: black;">&#160;</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> <td style="text-align: right; width: 10%; color: black;">45,135</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; color: black;">2014</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">47,919</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; color: black;">2015</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">50,875</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; color: black;">2016</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">1,720,679</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; color: black;">2017</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">6,724,041</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; padding-bottom: 1pt; color: black;">Thereafter</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">12,832,771</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; color: black;">Total</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">21,421,420</td> <td style="text-align: left; color: black;"></td> </tr> </table> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">The following is a summary of estimated future royalty payments as of December 31, 2012:</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <table style="width: 95%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; width: 87%; font-size: 10pt;">2013</td> <td style="width: 1%; font-size: 10pt;">&#160;</td> <td style="text-align: left; width: 1%; font-size: 10pt;">&#160;</td> <td style="text-align: right; width: 10%; font-size: 10pt;">788,000</td> <td style="text-align: left; width: 1%; font-size: 10pt;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; font-size: 10pt;">2014</td> <td style="font-size: 10pt;">&#160;</td> <td style="text-align: left; font-size: 10pt;">&#160;</td> <td style="text-align: right; font-size: 10pt;">853,000</td> <td style="text-align: left; font-size: 10pt;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; font-size: 10pt;">2015</td> <td style="font-size: 10pt;">&#160;</td> <td style="text-align: left; font-size: 10pt;">&#160;</td> <td style="text-align: right; font-size: 10pt;">1,050,000</td> <td style="text-align: left; font-size: 10pt;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; font-size: 10pt;">2016</td> <td style="font-size: 10pt;">&#160;</td> <td style="text-align: left; font-size: 10pt;">&#160;</td> <td style="text-align: right; font-size: 10pt;">1,289,000</td> <td style="text-align: left; font-size: 10pt;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; font-size: 10pt;">2017</td> <td style="font-size: 10pt;">&#160;</td> <td style="text-align: left; font-size: 10pt;">&#160;</td> <td style="text-align: right; font-size: 10pt;">1,384,000</td> <td style="text-align: left; font-size: 10pt;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;">Thereafter</td> <td style="padding-bottom: 1pt; font-size: 10pt;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; font-size: 10pt;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; font-size: 10pt;">8,477,000</td> <td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; font-size: 10pt;">Total</td> <td style="font-size: 10pt;">&#160;</td> <td style="text-align: left; font-size: 10pt;">$</td> <td style="text-align: right; font-size: 10pt;">13,841,000</td> <td style="text-align: left; font-size: 10pt;">&#160;</td> </tr> </table> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">Activity under our stock option plans was as follows:</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <table style="width: 95%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td nowrap="nowrap">&#160;</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center; color: black;" colspan="10" nowrap="nowrap">2012</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center; color: black;" colspan="10" nowrap="nowrap">2011</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> </tr> <tr style="vertical-align: bottom;"> <td nowrap="nowrap">&#160;</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center; color: black;" colspan="2" nowrap="nowrap">Shares</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center; color: black;" colspan="2" nowrap="nowrap">Weighted<br />Average<br />Exercise&#160;Price</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center; color: black;" colspan="2" nowrap="nowrap">Weighted<br />Average&#160;Fair<br />Value&#160;at&#160;Grant<br />Date</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center; color: black;" colspan="2" nowrap="nowrap">Shares</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center; color: black;" colspan="2" nowrap="nowrap">Weighted<br />Average<br />Exercise&#160;Price</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center; color: black;" colspan="2" nowrap="nowrap">Weighted<br />Average&#160;Fair<br />Value&#160;at&#160;Grant<br />Date</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="width: 22%; color: black;">Outstanding at January 1</td> <td style="width: 1%; color: black;">&#160;</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> <td style="text-align: right; width: 10%; color: black;">4,828,910</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> <td style="width: 1%; color: black;">&#160;</td> <td style="text-align: left; width: 1%; color: black;">$</td> <td style="text-align: right; width: 10%; color: black;">2.14</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> <td style="width: 1%; color: black;">&#160;</td> <td style="text-align: left; width: 1%; color: black;">$</td> <td style="text-align: right; width: 10%; color: black;">1.01</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> <td style="width: 1%; color: black;">&#160;</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> <td style="text-align: right; width: 10%; color: black;">3,850,743</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> <td style="width: 1%; color: black;">&#160;</td> <td style="text-align: left; width: 1%; color: black;">$</td> <td style="text-align: right; width: 10%; color: black;">1.38</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> <td style="width: 1%; color: black;">&#160;</td> <td style="text-align: left; width: 1%; color: black;">$</td> <td style="text-align: right; width: 10%; color: black;">0.84</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="color: black;">Granted</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">1,716,250</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">1.79</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">1.03</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">2,261,750</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">2.90</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">1.39</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="color: black;">Exercised</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">(39,375</td> <td style="text-align: left; color: black;">)</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">0.87</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">0.37</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">(775,833</td> <td style="text-align: left; color: black;">)</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">1.31</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">0.66</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; padding-bottom: 1pt; color: black;">Cancelled or expired</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">(1,239,250</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">)</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">&#160;</td> <td style="text-align: right; padding-bottom: 1pt; color: black;">2.17</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">&#160;</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">&#160;</td> <td style="text-align: right; padding-bottom: 1pt; color: black;">0.39</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">&#160;</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">(507,750</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">)</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">&#160;</td> <td style="text-align: right; padding-bottom: 1pt; color: black;">2.42</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">&#160;</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">&#160;</td> <td style="text-align: right; padding-bottom: 1pt; color: black;">1.23</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="color: black;">Outstanding at December 31</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">5,266,535</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">2.02</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">1.03</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">4,828,910</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">2.14</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">1.01</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="color: black;">Exercisable at December 31</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">2,565,301</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">1.83</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">0.80</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">2,194,593</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">1.63</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">0.67</td> <td style="text-align: left; color: black;"></td> </tr> </table> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-align: justify; margin: 0pt 0px; font: 10pt times new roman, times, serif;">The following table summarizes restricted stock award activity during the year ended December 31, 2012:</p><p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</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;">&#160;</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: center; font: 10pt times new roman, times, serif; color: black;" colspan="2">Shares</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr><tr style="background-color: #ccffcc; vertical-align: bottom;"><td style="text-align: left; width: 86%; font: 10pt times new roman, times, serif; color: black;">Outstanding at Jan. 1, 2012</td><td style="width: 2%; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; width: 1%; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: right; width: 10%; font: 10pt times new roman, times, serif; color: black;">1,632,900</td><td style="text-align: left; width: 1%; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr><tr style="background-color: white; vertical-align: bottom;"><td style="font: 10pt times new roman, times, serif; color: black;">Awarded</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">151,000</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr><tr style="background-color: #ccffcc; vertical-align: bottom;"><td style="font: 10pt times new roman, times, serif; color: black;">Cancelled</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">(677,500</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">)</td></tr><tr style="background-color: white; vertical-align: bottom;"><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">Vested</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: right; font: 10pt times new roman, times, serif; color: black;">(372,500</td><td style="text-align: left; padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">)</td></tr><tr style="background-color: #ccffcc; vertical-align: bottom;"><td style="font: 10pt times new roman, times, serif; color: black;">Outstanding at December 31, 2012</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">733,900</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr></table> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">The following table summarizes our warrant activities for the period ended December 31, 2012:</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <table style="width: 90%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td style="text-align: center;" colspan="2" nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td style="color: black;" nowrap="nowrap">&#160;</td> <td style="text-align: center; color: black;" colspan="2" nowrap="nowrap">Weighted</td> <td style="color: black;" nowrap="nowrap">&#160;</td> </tr> <tr style="vertical-align: bottom;"> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td style="text-align: center;" colspan="2" nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td style="color: black;" nowrap="nowrap">&#160;</td> <td style="text-align: center; color: black;" colspan="2" nowrap="nowrap">Average</td> <td style="color: black;" nowrap="nowrap">&#160;</td> </tr> <tr style="vertical-align: bottom;"> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td style="text-align: center;" colspan="2" nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td style="color: black;" nowrap="nowrap">&#160;</td> <td style="text-align: center; color: black;" colspan="2" nowrap="nowrap">Exercise</td> <td style="color: black;" nowrap="nowrap">&#160;</td> </tr> <tr style="vertical-align: bottom;"> <td nowrap="nowrap">&#160;</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center; color: black;" colspan="2" nowrap="nowrap">Shares</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center; color: black;" colspan="2" nowrap="nowrap">Price</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="width: 74%; color: black;">Outstanding at January 1, 2012</td> <td style="width: 1%; color: black;">&#160;</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> <td style="text-align: right; width: 10%; color: black;">6,967,529</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> <td style="width: 1%; color: black;">&#160;</td> <td style="text-align: left; width: 1%; color: black;">$</td> <td style="text-align: right; width: 10%; color: black;">2.22</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="color: black;">Issued</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">598,886</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">1.66</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="padding-bottom: 1pt; color: black;">Exercised</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">(244,748</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">)</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">1.58</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="color: black;">Outstanding at December 31, 2012</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">7,321,667</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">2.2</td> <td style="text-align: left; color: black;"></td> </tr> </table> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">The estimated fair value was derived using the lattice model with the following weighted-average assumptions:</p><p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p><table style="width: 70%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td nowrap="nowrap">&#160;</td><td style="color: black;" nowrap="nowrap">&#160;</td><td style="text-align: center; color: black;" colspan="6" nowrap="nowrap">Year ended</td><td style="color: black;" nowrap="nowrap">&#160;</td></tr><tr style="vertical-align: bottom;"><td nowrap="nowrap">&#160;</td><td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td><td style="border-bottom: black 1pt solid; text-align: center; color: black;" colspan="6" nowrap="nowrap">December 31,</td><td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td></tr><tr style="vertical-align: bottom;"><td nowrap="nowrap">&#160;</td><td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td><td style="border-bottom: black 1pt solid; text-align: center; color: black;" colspan="2" nowrap="nowrap">2012</td><td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td><td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td><td style="border-bottom: black 1pt solid; text-align: center; color: black;" colspan="2" nowrap="nowrap">2011</td><td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td></tr><tr style="background-color: #ccffcc; vertical-align: bottom;"><td style="width: 74%; color: black;">Value of underlying common stock (per share)</td><td style="width: 1%; color: black;">&#160;</td><td style="text-align: left; width: 1%; color: black;" nowrap="nowrap">$</td><td style="text-align: right; width: 10%; color: black;" nowrap="nowrap">1.25</td><td style="text-align: left; width: 1%; color: black;" nowrap="nowrap">&#160;</td><td style="width: 1%; color: black;" nowrap="nowrap">&#160;</td><td style="text-align: left; width: 1%; color: black;" nowrap="nowrap">$</td><td style="text-align: right; width: 10%; color: black;" nowrap="nowrap">1.56</td><td style="text-align: left; width: 1%; color: black;">&#160;</td></tr><tr style="background-color: white; vertical-align: bottom;"><td style="text-align: left; color: black;">Risk free interest rate</td><td style="color: black;">&#160;</td><td style="text-align: left; color: black;" nowrap="nowrap">&#160;</td><td style="text-align: right; color: black;" nowrap="nowrap">0.24</td><td style="text-align: left; color: black;" nowrap="nowrap">%</td><td style="color: black;" nowrap="nowrap">&#160;</td><td style="text-align: left; color: black;" nowrap="nowrap">&#160;</td><td style="text-align: right; color: black;" nowrap="nowrap">0.32</td><td style="text-align: left; color: black;">%</td></tr><tr style="background-color: #ccffcc; vertical-align: bottom;"><td style="text-align: left; color: black;">Expected term</td><td style="color: black;">&#160;</td><td style="text-align: left; color: black;" nowrap="nowrap">&#160;</td><td style="text-align: right; color: black;" nowrap="nowrap"><font style="font: 10pt times new roman, times, serif; color: black;">3.83 years</font></td><td style="text-align: left; color: black;" nowrap="nowrap">&#160;</td><td style="color: black;" nowrap="nowrap">&#160;</td><td style="text-align: left; color: black;" nowrap="nowrap">&#160;</td><td style="text-align: right; color: black;" nowrap="nowrap"><font style="font: 10pt times new roman, times, serif; color: black;">4.67 years</font></td><td style="text-align: left; color: black;">&#160;</td></tr><tr style="background-color: white; vertical-align: bottom;"><td style="text-align: left; color: black;">Dividend yield</td><td style="color: black;">&#160;</td><td style="text-align: left; color: black;" nowrap="nowrap">&#160;</td><td style="text-align: right; color: black;" nowrap="nowrap">0</td><td style="text-align: left; color: black;" nowrap="nowrap">&#160;</td><td style="color: black;" nowrap="nowrap">&#160;</td><td style="text-align: left; color: black;" nowrap="nowrap">&#160;</td><td style="text-align: right; color: black;" nowrap="nowrap">0</td><td style="text-align: left; color: black;">&#160;</td></tr><tr style="background-color: #ccffcc; vertical-align: bottom;"><td style="color: black;">Volatility</td><td style="color: black;">&#160;</td><td style="text-align: left; color: black;" nowrap="nowrap">&#160;</td><td style="text-align: right; color: black;" nowrap="nowrap">72</td><td style="text-align: left; color: black;" nowrap="nowrap">%</td><td style="color: black;" nowrap="nowrap">&#160;</td><td style="text-align: left; color: black;" nowrap="nowrap">&#160;</td><td style="text-align: right; color: black;" nowrap="nowrap">69</td><td style="text-align: left; color: black;">%</td></tr></table> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">The following table summarizes our activities related to number of warrants used in the derivative liability for the period ended December 31, 2012 and 2011:</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <table style="width: 90%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td style="text-align: center; padding-bottom: 1pt; color: black; font-size: 10pt;">&#160;</td> <td style="text-align: center; padding-bottom: 1pt; color: black; font-size: 10pt;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center; color: black; font-size: 10pt;" colspan="2">2012</td> <td style="text-align: center; padding-bottom: 1pt; color: black; font-size: 10pt;">&#160;</td> <td style="text-align: center; padding-bottom: 1pt; font-size: 10pt;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center; font-size: 10pt;" colspan="2">2011</td> <td style="text-align: center; padding-bottom: 1pt; font-size: 10pt;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="width: 72%; color: black; font-size: 10pt;">Balance at January 1</td> <td style="width: 2%; color: black; font-size: 10pt;">&#160;</td> <td style="text-align: left; width: 1%; color: black; font-size: 10pt;">&#160;</td> <td style="text-align: right; width: 10%; color: black; font-size: 10pt;">1,506,007</td> <td style="text-align: left; width: 1%; color: black; font-size: 10pt;">&#160;</td> <td style="width: 2%; font-size: 10pt;">&#160;</td> <td style="text-align: left; width: 1%; font-size: 10pt;">&#160;</td> <td style="text-align: right; width: 10%; font-size: 10pt;">1,595,473</td> <td style="text-align: left; width: 1%; font-size: 10pt;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; color: black; font-size: 10pt;">Derivative warrants issued</td> <td style="color: black; font-size: 10pt;">&#160;</td> <td style="text-align: left; color: black; font-size: 10pt;">&#160;</td> <td style="text-align: right; color: black; font-size: 10pt;">143,700</td> <td style="text-align: left; color: black; font-size: 10pt;">&#160;</td> <td style="font-size: 10pt;">&#160;</td> <td style="text-align: left; font-size: 10pt;">&#160;</td> <td style="text-align: right; font-size: 10pt;">133,474</td> <td style="text-align: left; font-size: 10pt;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; padding-bottom: 1pt; color: black; font-size: 10pt;">Derivative warrants exercised</td> <td style="padding-bottom: 1pt; color: black; font-size: 10pt;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black; font-size: 10pt;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black; font-size: 10pt;">-</td> <td style="text-align: left; padding-bottom: 1pt; color: black; font-size: 10pt;">&#160;</td> <td style="padding-bottom: 1pt; font-size: 10pt;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; font-size: 10pt;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; font-size: 10pt;">(222,940</td> <td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;">)</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="color: black; font-size: 10pt;">Balance at December 31</td> <td style="color: black; font-size: 10pt;">&#160;</td> <td style="text-align: left; color: black; font-size: 10pt;">&#160;</td> <td style="text-align: right; color: black; font-size: 10pt;">1,649,707</td> <td style="text-align: left; color: black; font-size: 10pt;">&#160;</td> <td style="font-size: 10pt;">&#160;</td> <td style="text-align: left; font-size: 10pt;">&#160;</td> <td style="text-align: right; font-size: 10pt;">1,506,007</td> <td style="text-align: left; font-size: 10pt;"></td> </tr> </table> <div>Future minimum payments for the next five years and thereafter as of December 31, 2012, under these leases, are as follows:</div> <p style="text-align: justify; text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <table style="width: 90%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; width: 87%; color: black;">2013</td> <td style="width: 1%; color: black;">&#160;</td> <td style="text-align: left; width: 1%; color: black;">$</td> <td style="text-align: right; width: 10%; color: black;">244,828</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; color: black;">2014</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">263,136</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; color: black;">2015</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">263,136</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; color: black;">2016</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">263,136</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; color: black;">2017</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">263,136</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; padding-bottom: 1pt; color: black;">Thereafter</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">$</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">997,264</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; color: black;">Total</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">2,294,636</td> <td style="text-align: left; color: black;">&#160;</td> </tr> </table> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">The components of income (loss) before provision for income taxes consist of the following:</p><p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</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;">&#160;</td><td style="padding-bottom: 1pt; font-size: 10pt;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: center; font-size: 10pt;" colspan="6">Year Ended December 31,</td><td style="padding-bottom: 1pt; font-size: 10pt;">&#160;</td></tr><tr style="vertical-align: bottom;"><td style="font-size: 10pt;">&#160;</td><td style="padding-bottom: 1pt; font-size: 10pt;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: center; font-size: 10pt;" colspan="2">2012</td><td style="padding-bottom: 1pt; font-size: 10pt;">&#160;</td><td style="padding-bottom: 1pt; font-size: 10pt;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: center; font-size: 10pt;" colspan="2">2011</td><td style="padding-bottom: 1pt; font-size: 10pt;">&#160;</td></tr><tr style="vertical-align: bottom;"><td style="font-size: 10pt;">&#160;</td><td style="font-size: 10pt;">&#160;</td><td style="font-size: 10pt;" colspan="2">&#160;</td><td style="font-size: 10pt;">&#160;</td><td style="font-size: 10pt;">&#160;</td><td style="font-size: 10pt;" colspan="2">&#160;</td><td style="font-size: 10pt;">&#160;</td></tr><tr style="background-color: #ccffcc; vertical-align: bottom;"><td style="text-align: left; padding-bottom: 1pt; width: 72%; font-size: 10pt;">United States</td><td style="padding-bottom: 1pt; width: 2%; font-size: 10pt;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: left; width: 1%; font-size: 10pt;">$</td><td style="border-bottom: black 1pt solid; text-align: right; width: 10%; font-size: 10pt;">(7,713,822</td><td style="text-align: left; padding-bottom: 1pt; width: 1%; font-size: 10pt;">)</td><td style="padding-bottom: 1pt; width: 2%; font-size: 10pt;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: left; width: 1%; font-size: 10pt;">$</td><td style="border-bottom: black 1pt solid; text-align: right; width: 10%; font-size: 10pt;">(3,006,469</td><td style="text-align: left; padding-bottom: 1pt; width: 1%; font-size: 10pt;">)</td></tr><tr style="background-color: white; vertical-align: bottom;"><td style="padding-bottom: 1pt; font-size: 10pt;">&#160;</td><td style="padding-bottom: 1pt; font-size: 10pt;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: left; font-size: 10pt;">$</td><td style="border-bottom: black 1pt solid; text-align: right; font-size: 10pt;">(7,713,822</td><td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;">)</td><td style="padding-bottom: 1pt; font-size: 10pt;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: left; font-size: 10pt;">$</td><td style="border-bottom: black 1pt solid; text-align: right; font-size: 10pt;">(3,006,469</td><td style="text-align: left; padding-bottom: 1pt; font-size: 10pt;">)</td></tr></table> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">The components of the income tax provision are as follows:</p><p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</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;">&#160;</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: center; font: 10pt times new roman, times, serif; color: black;" colspan="6">Year Ended December 31,</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr><tr style="vertical-align: bottom;"><td style="font-size: 10pt;">&#160;</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: center; font: 10pt times new roman, times, serif; color: black;" colspan="2">2012</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: center; font: 10pt times new roman, times, serif; color: black;" colspan="2">2011</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr><tr style="vertical-align: bottom;"><td style="font-size: 10pt;">&#160;</td><td style="font-size: 10pt;">&#160;</td><td style="font-size: 10pt;" colspan="2">&#160;</td><td style="font-size: 10pt;">&#160;</td><td style="font-size: 10pt;">&#160;</td><td style="font-size: 10pt;" colspan="2">&#160;</td><td style="font-size: 10pt;">&#160;</td></tr><tr style="background-color: #ccffcc; vertical-align: bottom;"><td style="padding-left: 5.4pt; font: 10pt times new roman, times, serif; color: black;">Current:</td><td style="font-size: 10pt;">&#160;</td><td style="text-align: left; font-size: 10pt;">&#160;</td><td style="text-align: right; font-size: 10pt;">&#160;</td><td style="text-align: left; font-size: 10pt;">&#160;</td><td style="font-size: 10pt;">&#160;</td><td style="text-align: left; font-size: 10pt;">&#160;</td><td style="text-align: right; font-size: 10pt;">&#160;</td><td style="text-align: left; font-size: 10pt;">&#160;</td></tr><tr style="background-color: white; vertical-align: bottom;"><td style="padding-left: 5.4pt; width: 72%; font: 10pt times new roman, times, serif; color: black;">Federal</td><td style="width: 2%; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; width: 1%; font: 10pt times new roman, times, serif; color: black;">$</td><td style="text-align: right; width: 10%; font: 10pt times new roman, times, serif; color: black;">-</td><td style="text-align: left; width: 1%; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="width: 2%; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; width: 1%; font: 10pt times new roman, times, serif; color: black;">$</td><td style="text-align: right; width: 10%; font: 10pt times new roman, times, serif; color: black;">-</td><td style="text-align: left; width: 1%; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr><tr style="background-color: #ccffcc; vertical-align: bottom;"><td style="padding-bottom: 1pt; padding-left: 5.4pt; font: 10pt times new roman, times, serif; color: black;">State</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: right; font: 10pt times new roman, times, serif; color: black;">-</td><td style="text-align: left; padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: right; font: 10pt times new roman, times, serif; color: black;">-</td><td style="text-align: left; padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr><tr style="background-color: white; vertical-align: bottom;"><td style="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt; font: 10pt times new roman, times, serif; color: black;">Total current</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: right; font: 10pt times new roman, times, serif; color: black;">-</td><td style="text-align: left; padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: right; font: 10pt times new roman, times, serif; color: black;">-</td><td style="text-align: left; padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr><tr style="background-color: #ccffcc; vertical-align: bottom;"><td style="padding-left: 5.4pt; font-size: 10pt;">&#160;</td><td style="font-size: 10pt;">&#160;</td><td style="text-align: left; font-size: 10pt;">&#160;</td><td style="text-align: right; font-size: 10pt;">&#160;</td><td style="text-align: left; font-size: 10pt;">&#160;</td><td style="font-size: 10pt;">&#160;</td><td style="text-align: left; font-size: 10pt;">&#160;</td><td style="text-align: right; font-size: 10pt;">&#160;</td><td style="text-align: left; font-size: 10pt;">&#160;</td></tr><tr style="background-color: white; vertical-align: bottom;"><td style="padding-left: 5.4pt; font: 10pt times new roman, times, serif; color: black;">Deferred:</td><td style="font-size: 10pt;">&#160;</td><td style="text-align: left; font-size: 10pt;">&#160;</td><td style="text-align: right; font-size: 10pt;">&#160;</td><td style="text-align: left; font-size: 10pt;">&#160;</td><td style="font-size: 10pt;">&#160;</td><td style="text-align: left; font-size: 10pt;">&#160;</td><td style="text-align: right; font-size: 10pt;">&#160;</td><td style="text-align: left; font-size: 10pt;">&#160;</td></tr><tr style="background-color: #ccffcc; vertical-align: bottom;"><td style="padding-left: 5.4pt; font: 10pt times new roman, times, serif; color: black;">Federal</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">-</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="text-align: right; font: 10pt times new roman, times, serif; color: black;">-</td><td style="text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr><tr style="background-color: white; vertical-align: bottom;"><td style="padding-bottom: 1pt; padding-left: 5.4pt; font: 10pt times new roman, times, serif; color: black;">State</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: right; font: 10pt times new roman, times, serif; color: black;">-</td><td style="text-align: left; padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: right; font: 10pt times new roman, times, serif; color: black;">-</td><td style="text-align: left; padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr><tr style="background-color: #ccffcc; vertical-align: bottom;"><td style="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt; font: 10pt times new roman, times, serif; color: black;">Total deferred</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: right; font: 10pt times new roman, times, serif; color: black;">-</td><td style="text-align: left; padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: left; font: 10pt times new roman, times, serif; color: black;">&#160;</td><td style="border-bottom: black 1pt solid; text-align: right; font: 10pt times new roman, times, serif; color: black;">-</td><td style="text-align: left; padding-bottom: 1pt; font: 10pt times new roman, times, serif; color: black;">&#160;</td></tr></table> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">The reconciliation of income tax attributable to operations computed at the U.S. Federal statutory income tax rate of 35% to income tax expense is as follows:</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <table style="width: 80%; border-collapse: collapse; font: 10pt times new roman, times, serif; margin-left: 0.5in;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td nowrap="nowrap">&#160;</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center; color: black;" colspan="6" nowrap="nowrap">Year Ended December 31,</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> </tr> <tr style="vertical-align: bottom;"> <td nowrap="nowrap">&#160;</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center; color: black;" colspan="2" nowrap="nowrap">2012</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center; color: black;" colspan="2" nowrap="nowrap">2011</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; width: 74%; color: black;">Statutory Federal tax rate</td> <td style="width: 1%; color: black;">&#160;</td> <td style="text-align: left; width: 1%; color: black;">$</td> <td style="text-align: right; width: 10%; color: black;">(2,699,838</td> <td style="text-align: left; width: 1%; color: black;">)</td> <td style="width: 1%; color: black;">&#160;</td> <td style="text-align: left; width: 1%; color: black;">$</td> <td style="text-align: right; width: 10%; color: black;">(1,052,264</td> <td style="text-align: left; width: 1%; color: black;">)</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; color: black;">Valuation allowance</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">2,789,646</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">3,729,905</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; color: black;">State income taxes, net of Federal benefit</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">(443,236</td> <td style="text-align: left; color: black;">)</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">(172,752</td> <td style="text-align: left; color: black;">)</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; color: black;">Change in state income tax rate</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">823,665</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">-</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; color: black;">Change in Warrant Derivative Liability</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">(554,211</td> <td style="text-align: left; color: black;">)</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">(2,598,646</td> <td style="text-align: left; color: black;">)</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; padding-bottom: 1pt; color: black;">Nondeductible meals &amp; entertainment expense</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">83,974</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">&#160;</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">93,757</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td>&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="padding-bottom: 2.5pt;">&#160;</td> <td style="padding-bottom: 2.5pt; color: black;">&#160;</td> <td style="border-bottom: black 2.5pt double; text-align: left; color: black;">$</td> <td style="border-bottom: black 2.5pt double; text-align: right; color: black;">-</td> <td style="text-align: left; padding-bottom: 2.5pt; color: black;">&#160;</td> <td style="padding-bottom: 2.5pt; color: black;">&#160;</td> <td style="border-bottom: black 2.5pt double; text-align: left; color: black;">$</td> <td style="border-bottom: black 2.5pt double; text-align: right; color: black;">-</td> <td style="text-align: left; padding-bottom: 2.5pt; color: black;">&#160;</td> </tr> </table> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">Deferred tax components are as follows:</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <table style="width: 85%; border-collapse: collapse; font: 10pt times new roman, times, serif; margin-left: 0.5in;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td style="padding-bottom: 1pt;">&#160;</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center; color: black;" colspan="6">At December 31,</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> </tr> <tr style="vertical-align: bottom;"> <td style="padding-bottom: 1pt;">&#160;</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center; color: black;" colspan="2">2012</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center; color: black;" colspan="2">2011</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> </tr> <tr style="vertical-align: bottom;"> <td>&#160;</td> <td>&#160;</td> <td style="text-align: center;" colspan="2">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td style="text-align: center;" colspan="2">&#160;</td> <td>&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; color: black;">Deferred tax assets:</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; padding-left: 9pt; color: black;">Current deferred tax assets</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; padding-left: 0.25in; width: 74%; color: black;">Accrued liability for vacation</td> <td style="width: 1%; color: black;">&#160;</td> <td style="text-align: left; width: 1%; color: black;">$</td> <td style="text-align: right; width: 10%; color: black;">75,442</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> <td style="width: 1%; color: black;">&#160;</td> <td style="text-align: left; width: 1%; color: black;">$</td> <td style="text-align: right; width: 10%; color: black;">78,972</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; padding-left: 0.25in; color: black;">Bad debt reserve</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">642,546</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">540,462</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; padding-left: 0.25in; color: black;">Charitable contributions carrforward</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">19,686</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">14,835</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; padding-left: 0.25in; color: black;">Inventory reserve</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">456,026</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">362,399</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 0.25in; color: black;">Restricted stock compensation</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">94,212</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">&#160;</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">266,957</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; padding-left: 9pt; color: black;">Total current deferred tax assets</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">1,287,912</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">1,263,625</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 0.25in; color: black;">Valuation Allowance</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">(1,287,912</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">)</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">(1,263,625</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">)</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td>&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 9pt; color: black;">Net current deferred tax assets</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">-</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">&#160;</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">-</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="padding-left: 9pt;">&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; padding-left: 9pt; color: black;">Noncurrent deferred tax assets</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; padding-left: 0.25in; color: black;">Net operating loss carryovers</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">11,963,305</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">9,673,993</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; padding-left: 0.25in; color: black;">Stock warrants</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">139,549</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">-</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 0.25in; color: black;">Stock option compensation</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">1,023,192</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">&#160;</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">749,755</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; padding-left: 9pt; color: black;">Total noncurrent deferred tax assets</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">13,126,046</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">10,423,748</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 0.25in; color: black;">Valuation allowance</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">(13,172,543</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">)</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">(10,407,184</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">)</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td>&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 9pt; color: black;">Net noncurrent deferred tax assets</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">(46,497</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">)</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">16,564</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td>&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; color: black;">Deferred tax liabilities:</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; padding-left: 9pt; color: black;">Goodwill Amortization</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">(11,346</td> <td style="text-align: left; color: black;">)</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">(3,782</td> <td style="text-align: left; color: black;">)</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="padding-left: 9pt; color: black;">Depreciation</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">31,055</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">(31,037</td> <td style="text-align: left; color: black;">)</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="padding-bottom: 1pt; padding-left: 9pt; color: black;">Amortization</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">26,788</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">&#160;</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">18,255</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td>&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 0.25in; color: black;">Total deferred tax liabilities</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">46,497</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">&#160;</td> <td style="padding-bottom: 1pt; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: left; color: black;">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; color: black;">(16,564</td> <td style="text-align: left; padding-bottom: 1pt; color: black;">)</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="padding-left: 0.25in;">&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 0.25in; color: black;">Net deferred tax assets</td> <td style="padding-bottom: 2.5pt; color: black;">&#160;</td> <td style="border-bottom: black 2.5pt double; text-align: left; color: black;">$</td> <td style="border-bottom: black 2.5pt double; text-align: right; color: black;">-</td> <td style="text-align: left; padding-bottom: 2.5pt; color: black;">&#160;</td> <td style="padding-bottom: 2.5pt; color: black;">&#160;</td> <td style="border-bottom: black 2.5pt double; text-align: left; color: black;">$</td> <td style="border-bottom: black 2.5pt double; text-align: right; color: black;">-</td> <td style="text-align: left; padding-bottom: 2.5pt; color: black;"></td> </tr> </table> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">Supplemental cash flow information is as follows:</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <table style="width: 95%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td nowrap="nowrap">&#160;</td> <td style="color: black;" nowrap="nowrap">&#160;</td> <td style="text-align: center; color: black;" colspan="6" nowrap="nowrap">Year&#160;ended</td> <td style="color: black;" nowrap="nowrap">&#160;</td> </tr> <tr style="vertical-align: bottom;"> <td nowrap="nowrap">&#160;</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center; color: black;" colspan="6" nowrap="nowrap">December 31,</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> </tr> <tr style="vertical-align: bottom;"> <td nowrap="nowrap">&#160;</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center; color: black;" colspan="2" nowrap="nowrap">2012</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center; color: black;" colspan="2" nowrap="nowrap">2011</td> <td style="padding-bottom: 1pt; color: black;" nowrap="nowrap">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; color: black;">Supplemental disclosure of cash flow information</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; color: black;">Cash paid during the period for:</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="width: 74%; color: black;">Interest</td> <td style="width: 1%; color: black;">&#160;</td> <td style="text-align: left; width: 1%; color: black;">$</td> <td style="text-align: right; width: 10%; color: black;">1,873,155</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> <td style="width: 1%; color: black;">&#160;</td> <td style="text-align: left; width: 1%; color: black;">$</td> <td style="text-align: right; width: 10%; color: black;">1,039,703</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; color: black;">Income taxes</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">-</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">-</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="color: black;">Non-cash activities:</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">&#160;</td> <td style="text-align: left;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="color: black;">Non-cash consulting expense</td> <td>&#160;</td> <td style="text-align: left;">$</td> <td style="text-align: right;">401,395</td> <td style="text-align: left;">&#160;</td> <td>&#160;</td> <td style="text-align: left;">$</td> <td style="text-align: right;">1,675,008</td> <td style="text-align: left;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; color: black;">Acquisition contingent consideration</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">-</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">450,166</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; color: black;">Warrants issued with debt</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">220,872</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">227,388</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; color: black;">Issuance of stock for business acquisition</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">-</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">1,000,000</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; color: black;">Conversion of accounts payable into common stock</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">-</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">600,000</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; color: black;">Decrease in warrant derivative liability due to warrant exercises</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">-</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">968,554</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; color: black;">Capital lease acquisition</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">350,986</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">116,263</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="color: black;">Issuance of warrants</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">220,872</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">-</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="text-align: left; color: black;">Debt discount related to financing</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">7,341,520</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">-</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="text-align: left; color: black;">Royalty liability related to financing</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">7,341,520</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">$</td> <td style="text-align: right; color: black;">-</td> <td style="text-align: left; color: black;">&#160;</td> </tr> </table> 450166 450166 0 0 91740 91740 0 0 2344516 450166 984356 91740 1360160 358426 0.06 0.98 0.05 0.97 0.21 0.22 P30Y P15Y 81000 51000 5008670 5266535 16800000 0.167 The Company also receives royalty revenue from third parties related to licensing agreements. The Company has royalty agreements with Nufix, RyMed and Bard Access Systems. Revenue under these agreements represented less than 1% of total revenue for 2012 and 2011. 130719 375747 3.06 2.95 3.52 2.55 2.22 1.03 1.03 2.30 2.2 31000000 30000000 504827 157077 59644 728618 1450166 1000000 1000000 -450166 1450166 74918 35392 74918 35392 74918 35392 74918 26229 74918 3976 217788 27252 592378 163633 2011-07-11 500000 500000 1000000 2000000 P5Y P15Y 91740 P2Y 1612901 1919250 2586047 4991032 5107400 7350332 9306348 14260614 826638 1119193 920542 1238225 9400252 14379646 7468105 68306 171418 1653263 1357218 392375 228054 3597471 9572822 78306 170118 1653263 1793756 312650 392206 5172523 3693965 4337955 549604 66886 109171 287811 701748 707971 809615 820778 153482 228400 53638 74918 608933 0 608933 0 218850 0 218850 0 1289827 1013909 1413285 1075591 8464183 4666667 1464183 2333333 0 21421420 0 1421420 0 20000000 192935 6893183 45135 47919 50875 1720679 6724041 12832771 21421420 788000 853000 1050000 1289000 1384000 8477000 13841000 15000000 20000000 7000000 8000000 5000000 5000000 8000000 3000000 0.03 LIBOR plus 7.5 0.06 10746 LIBOR plus 12.13%, subject to a LIBOR floor rate of 1.0%. The facility allowed borrowings based upon a predetermined formula of up to 80% of Bacterin's eligible accounts receivable, as defined in the credit and security agreement. The Company also amended its existing Loan and Security Agreement with MidCap to allow the Company to borrow up to an additional $3 million for the next nine months in connection with a permitted acquisition. The credit facility carried an interest rate of LIBOR plus 4%, subject to a LIBOR floor rate of 2.5%. The Company also agreed to pay a 0.5% collateral management fee on the average outstanding balance of the facility and 1% of the average unused portion of the facility, as well as a 1% origination fee. LIBOR plus 7.5% maturing January 2015 LIBOR plus 12.13% maturing August 2019 LIBOR plus 7.5% maturing January 2015 maturing December 24, 2030 royalty of 1.75% on the first $45,000,000 of net sales, plus 1.0% of net sales in excess of $45,000,000 for each of the next ten years 10000000 0 7341520 45000000 1300000 706000 944000 Repayment was interest only for the first nine months, with principal and interest for the subsequent 33 months 3850743 4828910 5266535 2261750 1716250 507750 1239250 2194593 2565301 1.38 2.14 2.02 2.90 1.79 1.31 0.87 2.42 2.17 1.63 1.83 0.84 1.01 1.39 1.03 1.18 0.66 0.37 1.23 0.39 1.01 1.03 0.67 0.80 1632900 733900 151000 677500 372500 9000000 1559898 0.0120 P6Y8M12D 0.66 0.00 0.00 39375 473416 473416 2701234 1675008 427787 P3Y 375000 1570565 133474 192157 6967529 1506007 143700 7321667 1649707 1595473 133474 598886 143700 244748 1.66 1.58 1.56 1.25 0.0032 0.0024 P4Y8M1D P3Y9M29D 0.00 0.00 0.69 0.72 312285 227388 0.07 P7Y 222940 0 129972 1360160 0 300895 297991 220872 342485 244828 263136 263136 263136 263136 997264 2294636 215000 298000 15000 0 0 0 0 0 0 0 0 -1052264 -2699838 3729905 2789646 -172752 -443236 0 823665 -2598646 -554211 93757 83974 0 0 78972 75442 540462 642546 14835 19686 362399 456026 266957 94212 1263625 1287912 1263625 1287912 0 0 9673993 11963305 0 139549 749755 1023192 10423748 13126046 10407184 13172543 16564 -46497 -3782 -11346 -31037 31055 18255 26788 16564 -46497 0 0 2041543 2789646 22069461 29360685 0.35 Federal net operating loss carryovers expire at various dates between 2024 and 2032, while state net operating loss carryovers expire between 2024 and 2032. 0 0 Events which cause limitations in the amount of net operating losses that the Company may utilize in any one year include, but are not limited to, a cumulative ownership change of more than 50%, as defined, over a three year period. 0.02 16500 1039703 1873155 0 0 227388 220872 600000 0 968554 0 116263 350986 0 7341520 1765908 510500 1472949 525900 5000 1850000 <p style="margin: 0pt 0px; font: 10pt times new roman, times, serif;">The following tables set forth by level, within the fair value hierarchy, our assets and liabilities as of December 31, 2012 and December 31, 2011 that are measured at fair value on a recurring basis:</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <p style="text-indent: 0.5in; margin: 0pt 0px 0pt -0.5in; font: 10pt times new roman, times, serif;">Accrued stock compensation</p> <p style="text-indent: 0.5in; margin: 0pt 0px; font: 10pt times new roman, times, serif;">&#160;</p> <table align="center" style="width: 80%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td style="text-align: left;" nowrap="nowrap"></td> <td nowrap="nowrap">&#160;</td> <td style="text-align: center;" colspan="2" nowrap="nowrap">As&#160;of <br />December&#160;31, <br />2012</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td style="text-align: center;" colspan="2" nowrap="nowrap">As&#160;of <br />December&#160;31, <br />2011</td> <td nowrap="nowrap">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="color: black;">Level 1</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">218,850</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">608,933</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: white; vertical-align: bottom;"> <td style="color: black;">Level 2</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">-</td> <td style="text-align: left; color: black;">&#160;</td> <td style="color: black;">&#160;</td> <td style="text-align: left; color: black;">&#160;</td> <td style="text-align: right; color: black;">-</td> <td style="text-align: left; color: black;">&#160;</td> </tr> <tr style="background-color: #ccffcc; vertical-align: bottom;"> <td style="width: 74%; color: black;">Level 3</td> <td style="width: 1%; color: black;">&#160;</td> <td style="text-align: left; width: 1%; color: black;">$</td> <td style="text-align: right; width: 10%; color: black;">-</td> <td style="text-align: left; width: 1%; color: black;">&#160;</td> <td style="width: 1%; color: black;">&#160;</td> <td style="text-align: left; width: 1%; color: black;">$</td> <td style="text-align: right; width: 10%; color: black;">-</td> <td style="text-align: left; width: 1%; color: black;"></td> </tr> </table> 13800000 P5Y 0001453593us-gaap:RestrictedStockMember2012-12-31 562622 00014535932012-04-012012-04-04 1648993.58 244748 EX-101.SCH 8 bone-20121231.xsd XBRL TAXONOMY EXTENSION SCHEMA 001 - Document - Document And Entity Information link:presentationLink link:definitionLink link:calculationLink 002 - Statement - Consolidated Balance Sheets link:presentationLink link:definitionLink link:calculationLink 003 - Statement - Consolidated Balance Sheets [Parenthetical] link:presentationLink link:definitionLink link:calculationLink 004 - Statement - Consolidated Statements of Operations link:presentationLink link:definitionLink link:calculationLink 005 - Statement - Consolidated Statements of Changes in Stockholders' Equity (Deficit) link:presentationLink link:definitionLink link:calculationLink 006 - Statement - Consolidated Statements of Cash Flows link:presentationLink link:definitionLink link:calculationLink 007 - Disclosure - Business Description and Summary of Significant Accounting Policies link:presentationLink link:definitionLink link:calculationLink 008 - Disclosure - Equity link:presentationLink link:definitionLink link:calculationLink 009 - Disclosure - Acquisition link:presentationLink link:definitionLink link:calculationLink 010 - Disclosure - Inventories link:presentationLink link:definitionLink link:calculationLink 011 - Disclosure - Property and Equipment, Net link:presentationLink link:definitionLink link:calculationLink 012 - Disclosure - Intangible Assets link:presentationLink link:definitionLink link:calculationLink 013 - Disclosure - Accrued Liabilities link:presentationLink link:definitionLink link:calculationLink 014 - Disclosure - Long-term Debt link:presentationLink link:definitionLink link:calculationLink 015 - Disclosure - Stock-Based Compensation link:presentationLink link:definitionLink link:calculationLink 016 - Disclosure - Warrants link:presentationLink link:definitionLink link:calculationLink 017 - Disclosure - Commitments and Contingencies link:presentationLink link:definitionLink link:calculationLink 018 - Disclosure - Income Taxes link:presentationLink link:definitionLink link:calculationLink 019 - Disclosure - Employee Benefit Plans link:presentationLink link:definitionLink link:calculationLink 020 - Disclosure - Supplemental Disclosure of Cash Flow Information link:presentationLink link:definitionLink link:calculationLink 021 - Disclosure - Related Party Transactions link:presentationLink link:definitionLink link:calculationLink 022 - Disclosure - Subsequent Events link:presentationLink link:definitionLink link:calculationLink 023 - Disclosure - Business Description and Summary of Significant Accounting Policies (Policies) link:presentationLink link:definitionLink link:calculationLink 024 - Disclosure - Business Description and Summary of Significant Accounting Policies (Tables) link:presentationLink link:definitionLink link:calculationLink 025 - Disclosure - Acquisition (Tables) link:presentationLink link:definitionLink link:calculationLink 026 - Disclosure - Inventories (Tables) link:presentationLink link:definitionLink link:calculationLink 027 - Disclosure - Property and Equipment, Net (Tables) link:presentationLink link:definitionLink link:calculationLink 028 - Disclosure - Intangible Assets (Tables) link:presentationLink link:definitionLink link:calculationLink 029 - Disclosure - Accrued Liabilities (Tables) link:presentationLink link:definitionLink link:calculationLink 030 - Disclosure - Long-term Debt (Tables) link:presentationLink link:definitionLink link:calculationLink 031 - Disclosure - Stock-Based Compensation (Tables) link:presentationLink link:definitionLink link:calculationLink 032 - Disclosure - Warrants (Tables) link:presentationLink link:definitionLink link:calculationLink 033 - Disclosure - Commitments and Contingencies (Tables) link:presentationLink link:definitionLink link:calculationLink 034 - Disclosure - Income Taxes (Tables) link:presentationLink link:definitionLink link:calculationLink 035 - Disclosure - Supplemental Disclosure of Cash Flow Information (Tables) link:presentationLink link:definitionLink link:calculationLink 037 - Disclosure - Business Description and Summary of Significant Accounting Policies (Details 1) link:presentationLink link:definitionLink link:calculationLink 036 - Disclosure - Business Description and Summary of Significant Accounting Policies (Details) link:presentationLink link:definitionLink link:calculationLink 038 - Disclosure - Business Description and Summary of Significant Accounting Policies (Details 2) link:presentationLink link:definitionLink link:calculationLink 039 - Disclosure - Business Description and Summary of Significant Accounting Policies (Details 3) link:presentationLink link:definitionLink link:calculationLink 040 - Disclosure - Business Description and Summary of Significant Accounting Policies (Details 4) link:presentationLink link:definitionLink link:calculationLink 041 - Disclosure - Business Description and Summary of Significant Accounting Policies (Details Textual) link:presentationLink link:definitionLink link:calculationLink 042 - Disclosure - Equity (Details Textual) link:presentationLink link:definitionLink link:calculationLink 043 - Disclosure - Acquisition (Details) link:presentationLink link:definitionLink link:calculationLink 044 - Disclosure - Acquisition (Details 1) link:presentationLink link:definitionLink link:calculationLink 045 - Disclosure - Acquisition (Details 2) link:presentationLink link:definitionLink link:calculationLink 046 - Disclosure - Acquisition (Details Textual) link:presentationLink link:definitionLink link:calculationLink 047 - Disclosure - Inventories (Details) link:presentationLink link:definitionLink link:calculationLink 048 - Disclosure - Property and Equipment, Net (Details) link:presentationLink link:definitionLink link:calculationLink 049 - Disclosure - Property and Equipment, Net (Details Textual) link:presentationLink link:definitionLink link:calculationLink 050 - Disclosure - Intangible Assets (Details) link:presentationLink link:definitionLink link:calculationLink 051 - Disclosure - Accrued Liabilities (Details) link:presentationLink link:definitionLink link:calculationLink 052 - Disclosure - Long-term Debt (Details) link:presentationLink link:definitionLink link:calculationLink 053 - Disclosure - Long-term Debt (Details 1) link:presentationLink link:definitionLink link:calculationLink 054 - Disclosure - Long-term Debt (Details 2) link:presentationLink link:definitionLink link:calculationLink 055 - Disclosure - Long-term Debt (Details Textual) link:presentationLink link:definitionLink link:calculationLink 056 - Disclosure - Stock-Based Compensation (Details) link:presentationLink link:definitionLink link:calculationLink 057 - Disclosure - Stock-Based Compensation (Details 1) link:presentationLink link:definitionLink link:calculationLink 058 - Disclosure - Stock-Based Compensation (Details Textual) link:presentationLink link:definitionLink link:calculationLink 059 - Disclosure - Warrants (Details) link:presentationLink link:definitionLink link:calculationLink 060 - Disclosure - Warrants (Details 1) link:presentationLink link:definitionLink link:calculationLink 061 - Disclosure - Warrants (Details 2) link:presentationLink link:definitionLink link:calculationLink 062 - Disclosure - Warrants (Details Textual) link:presentationLink link:definitionLink link:calculationLink 063 - Disclosure - Commitments and Contingencies (Details) link:presentationLink link:definitionLink link:calculationLink 064 - Disclosure - Commitments and Contingencies (Details Textual) link:presentationLink link:definitionLink link:calculationLink 065 - Disclosure - Income Taxes (Details) link:presentationLink link:definitionLink link:calculationLink 066 - Disclosure - Income Taxes (Details 1) link:presentationLink link:definitionLink link:calculationLink 067 - Disclosure - Income Taxes (Details 2) link:presentationLink link:definitionLink link:calculationLink 068 - Disclosure - Income Taxes (Details 3) link:presentationLink link:definitionLink link:calculationLink 069 - Disclosure - Income Taxes (Details Textual) link:presentationLink link:definitionLink link:calculationLink 070 - Disclosure - Employee Benefit Plans (Details Textual) link:presentationLink link:definitionLink link:calculationLink 071 - Disclosure - Supplemental Disclosure of Cash Flow Information (Details) link:presentationLink link:definitionLink link:calculationLink 072 - Disclosure - Related Party Transactions (Details Textual) link:presentationLink link:definitionLink link:calculationLink EX-101.CAL 9 bone-20121231_cal.xml XBRL TAXONOMY EXTENSION CALCULATION LINKBASE EX-101.DEF 10 bone-20121231_def.xml XBRL TAXONOMY EXTENSION DEFINITION LINKBASE EX-101.LAB 11 bone-20121231_lab.xml XBRL TAXONOMY EXTENSION LABEL LINKBASE EX-101.PRE 12 bone-20121231_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE XML 13 R39.htm IDEA: XBRL DOCUMENT v2.4.0.6
Business Description and Summary of Significant Accounting Policies (Details 3) (USD $)
Dec. 31, 2012
Dec. 31, 2011
Acquisition contingent consideration liability $ 91,740 $ 450,166
Fair Value, Inputs, Level 1 [Member]
    
Acquisition contingent consideration liability 0 0
Fair Value, Inputs, Level 2 [Member]
    
Acquisition contingent consideration liability 0 0
Fair Value, Inputs, Level 3 [Member]
    
Acquisition contingent consideration liability $ 91,740 $ 450,166
XML 14 R54.htm IDEA: XBRL DOCUMENT v2.4.0.6
Long-term Debt (Details 2) (USD $)
Dec. 31, 2012
2013 $ 788,000
2014 853,000
2015 1,050,000
2016 1,289,000
2017 1,384,000
Thereafter 8,477,000
Total $ 13,841,000
XML 15 R48.htm IDEA: XBRL DOCUMENT v2.4.0.6
Property and Equipment, Net (Details) (USD $)
Dec. 31, 2012
Dec. 31, 2011
Total cost $ 9,572,822 $ 7,468,105
Less: accumulated depreciation (4,337,955) (3,693,965)
Property and equipment, net 5,234,867 3,774,140
Vehicles [Member]
    
Total cost 78,306 68,306
Building [Member]
    
Total cost 1,653,263 1,653,263
Equipment [Member]
    
Total cost 5,172,523 3,597,471
Computer Equipment [Member]
    
Total cost 312,650 392,375
Software [Member]
    
Total cost 392,206 228,054
Furniture and Fixtures [Member]
    
Total cost 170,118 171,418
Leasehold Improvements [Member]
    
Total cost $ 1,793,756 $ 1,357,218
XML 16 R70.htm IDEA: XBRL DOCUMENT v2.4.0.6
Employee Benefit Plans (Details Textual) (USD $)
 12 Months Ended
Dec. 31, 2012
Defined Benefit Plan Contributions By Plan Participants Percentage 2.00%
Minimum annual contribution per employee,Amount $ 16,500
XML 17 R55.htm IDEA: XBRL DOCUMENT v2.4.0.6
Long-term Debt (Details Textual) (USD $)
 12 Months Ended 12 Months Ended 12 Months Ended 1 Months Ended 12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2012
Debt Discounts and Loan Origination Fees [Member]
Dec. 31, 2011
Debt Discounts and Loan Origination Fees [Member]
Dec. 31, 2012
Prepayment Penalties [Member]
Dec. 31, 2012
Midcap and Silicon Valley Bank [Member]
Apr. 23, 2012
Midcap and Silicon Valley Bank [Member]
Dec. 31, 2011
Midcap and Silicon Valley Bank [Member]
Jul. 29, 2011
Midcap and Silicon Valley Bank [Member]
Dec. 31, 2012
Silicon Valley Bank [Member]
Dec. 31, 2012
Valley Bank Of Belgrade [Member]
Aug. 24, 2012
Ros Acquisition Offshore [Member]
Dec. 31, 2012
Ros Acquisition Offshore [Member]
Apr. 24, 2012
Ros Acquisition Offshore [Member]
Debt Instrument Borrowing Capacity Amount                 $ 15,000,000         $ 20,000,000
Debt Instrument, Unused Borrowing Capacity, Amount             5,000,000 8,000,000 7,000,000         5,000,000
Debt Instrument Additional Borrowing Limit             3,000,000   8,000,000          
Debt Instrument Description Of Increase In Variable Rate                 3.00%          
Debt Instrument, Description of Variable Rate Basis           LIBOR plus 7.5                
Debt Instrument, Interest Rate, Effective Percentage                     6.00%      
Debt Instrument, Periodic Payment                     10,746      
Line of Credit Facility, Description The facility allowed borrowings based upon a predetermined formula of up to 80% of Bacterin's eligible accounts receivable, as defined in the credit and security agreement. The Company also amended its existing Loan and Security Agreement with MidCap to allow the Company to borrow up to an additional $3 million for the next nine months in connection with a permitted acquisition. The credit facility carried an interest rate of LIBOR plus 4%, subject to a LIBOR floor rate of 2.5%. The Company also agreed to pay a 0.5% collateral management fee on the average outstanding balance of the facility and 1% of the average unused portion of the facility, as well as a 1% origination fee.         LIBOR plus 7.5% maturing January 2015       LIBOR plus 7.5% maturing January 2015 maturing December 24, 2030 LIBOR plus 12.13%, subject to a LIBOR floor rate of 1.0%. LIBOR plus 12.13% maturing August 2019  
Royalty Payments Description                       royalty of 1.75% on the first $45,000,000 of net sales, plus 1.0% of net sales in excess of $45,000,000 for each of the next ten years    
Future Royalty Liability 13,800,000                          
Proceeds from Other Debt           10,000,000                
Royalty liability related to financing 7,341,520 0                        
Installment Amount                       45,000,000    
Other Nonoperating Expense     $ 706,000 $ 1,300,000 $ 944,000                  
Debt Instrument, Payment Terms Repayment was interest only for the first nine months, with principal and interest for the subsequent 33 months                          
XML 18 R46.htm IDEA: XBRL DOCUMENT v2.4.0.6
Acquisition (Details Textual) (USD $)
 12 Months Ended
Dec. 31, 2012
Business Acquisition, Date of Acquisition Agreement Jul. 11, 2011
Business Acquisition Reduced Contingent Liability Value $ 91,740
Business Acquisition Gross Revenue Achievement Period 2 years
Customer Lists [Member]
  
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life 5 years
Trademarks [Member]
  
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life 15 years
Gross Revenue Equals Or Exceeds One Million [Member]
  
Business Acquisition Additional Equity Interest Issued Or Issuable Value Assigned 500,000
Business Acquisition Gross Revenue 1,000,000
Gross Revenue Equals Or Exceeds Two Million [Member]
  
Business Acquisition Additional Equity Interest Issued Or Issuable Value Assigned 500,000
Business Acquisition Gross Revenue $ 2,000,000
XML 19 R33.htm IDEA: XBRL DOCUMENT v2.4.0.6
Commitments and Contingencies (Tables)
 12 Months Ended
Dec. 31, 2012
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]
Future minimum payments for the next five years and thereafter as of December 31, 2012, under these leases, are as follows:

 

2013   $ 244,828  
2014   $ 263,136  
2015   $ 263,136  
2016   $ 263,136  
2017   $ 263,136  
Thereafter   $ 997,264  
Total   $ 2,294,636  
XML 20 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; } ..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 21 R57.htm IDEA: XBRL DOCUMENT v2.4.0.6
Stock-Based Compensation (Details 1)
 12 Months Ended
Dec. 31, 2012
Outstanding at Jan. 1, 2012 1,632,900
Awarded 151,000
Cancelled (677,500)
Vested (372,500)
Outstanding at December 31, 2012 733,900
XML 22 R71.htm IDEA: XBRL DOCUMENT v2.4.0.6
Supplemental Disclosure of Cash Flow Information (Details) (USD $)
 12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Supplemental disclosure of cash flow information    
Interest $ 1,873,155 $ 1,039,703
Income taxes 0 0
Non-cash activities:    
Non-cash consulting expense 427,787 1,675,008
Acquisition contingent consideration 91,740 450,166
Warrants issued with debt 220,872 227,388
Issuance of stock for business acquisition 1,000,000 1,000,000
Conversion of accounts payable into common stock 0 600,000
Decrease in warrant derivative liability due to warrant exercises 0 968,554
Capital lease acquisition 350,986 116,263
Issuance of warrants 220,872 0
Debt discount related to financing 7,341,520 0
Royalty liability related to financing $ 7,341,520 $ 0
XML 23 R25.htm IDEA: XBRL DOCUMENT v2.4.0.6
Acquisition (Tables)
 12 Months Ended
Dec. 31, 2012
Business Combinations [Abstract]  
Schedule of Purchase Price Allocation [Table Text Block]

The purchase price was allocated as follows:

 

Finished inventory $504,827 
Customer list  157,077 
Trademark  59,644 
Goodwill  728,618 
     
Total purchase price $1,450,166 
Business Acquisition Consideration Paid [Table Text Block]

The consideration for the purchase price was made up of the following components:

 

Stock issued $1,000,000 
Contingent consideration  450,166 
Total consideration $1,450,166
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

The useful lives of the Customer List and the Trademark are 5 years and 15 years, respectively resulting in the following amortization schedule:

 

2013  35,392 
2014  35,392 
2015  35,392 
2016  26,229 
2017  3,976 
Thereafter  27,252 
Total $163,633 
XML 24 R50.htm IDEA: XBRL DOCUMENT v2.4.0.6
Intangible Assets (Details) (USD $)
 12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Intellectual Property    
Gross carrying value $ 820,778 $ 809,615
Accumulated amortization (228,400) (153,482)
Net carrying value 592,378 656,133
Aggregate amortization expense: 74,918 53,638
Estimated amortization expense:    
2013   74,918
2014   74,918
2015   74,918
2016   74,918
2017   74,918
Thereafter   217,788
Total   $ 592,378
XML 25 R42.htm IDEA: XBRL DOCUMENT v2.4.0.6
Equity (Details Textual) (USD $)
 3 Months Ended 3 Months Ended 12 Months Ended 12 Months Ended 1 Months Ended
Mar. 31, 2012
Dec. 31, 2012
Jul. 23, 2012
Dec. 31, 2011
Jun. 30, 2011
Private Placement [Member]
Dec. 31, 2012
Private Placement [Member]
Dec. 31, 2011
Private Placement [Member]
Jul. 23, 2012
Private Placement [Member]
Dec. 31, 2012
Lincoln Park Capital Fund Llc [Member]
May 27, 2011
Lincoln Park Capital Fund Llc [Member]
Purchase Agreement and Registration Rights Agreement [Member]
Stock issued $ 3,899,996       $ 3,027,504 $ 3,879,746 $ 2,974,619     $ 1,000,002
Stock issued (in shares) 1,475,037       939,377         326,798
Class of Warrant or Right, Number of Securities Called by Warrants or Rights         375,747         130,719
Class of Warrant or Right, Exercise Price of Warrants or Rights   $ 2.2 $ 1.03 $ 2.22       $ 1.03   $ 3.06
Long-term Purchase Commitment, Amount                 $ 30,000,000 $ 31,000,000
XML 26 R37.htm IDEA: XBRL DOCUMENT v2.4.0.6
Business Description and Summary of Significant Accounting Policies (Details 1) (USD $)
Dec. 31, 2012
Dec. 31, 2011
Accrued stock compensation $ 218,850 $ 608,933
Fair Value, Inputs, Level 1 [Member]
    
Accrued stock compensation 218,850 608,933
Fair Value, Inputs, Level 2 [Member]
    
Accrued stock compensation 0 0
Fair Value, Inputs, Level 3 [Member]
    
Accrued stock compensation $ 0 $ 0
XML 27 R52.htm IDEA: XBRL DOCUMENT v2.4.0.6
Long-term Debt (Details) (USD $)
Dec. 31, 2012
Dec. 31, 2011
Loan Payable $ 21,421,420 $ 8,464,183
Less: Current portion (45,135) (1,632,978)
Debt discount (6,893,183) (192,935)
Long-term debt 14,483,102 6,638,270
Ros Acquisition Offshore [Member]
    
Loan Payable 20,000,000 0
Midcap and Silicon Valley Bank [Member]
    
Loan Payable 0 4,666,667
Silicon Valley Bank [Member]
    
Loan Payable 0 2,333,333
Valley Bank Of Belgrade [Member]
    
Loan Payable $ 1,421,420 $ 1,464,183
XML 28 R67.htm IDEA: XBRL DOCUMENT v2.4.0.6
Income Taxes (Details 2) (USD $)
 12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Statutory Federal tax rate $ 2,699,838 $ 1,052,264
Valuation allowance 2,789,646 3,729,905
State income taxes, net of Federal benefit 443,236 172,752
Change in state income tax rate 823,665 0
Change in Warrant Derivative Liability 554,211 2,598,646
Nondeductible meals & entertainment expense 83,974 93,757
Total Income Tax Expense\Benefit $ 0 $ 0
XML 29 R61.htm IDEA: XBRL DOCUMENT v2.4.0.6
Warrants (Details 2)
 12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Outstanding at January 1, Shares 6,967,529  
Derivative warrants issued 598,886  
Derivative warrants exercised (244,748)  
Balance at December 31, Shares 7,321,667  
Warrant Derivative Liability [Member]
    
Outstanding at January 1, Shares 1,506,007 1,595,473
Derivative warrants issued 143,700 133,474
Derivative warrants exercised 0 (222,940)
Balance at December 31, Shares 1,649,707 1,506,007
XML 30 R47.htm IDEA: XBRL DOCUMENT v2.4.0.6
Inventories (Details) (USD $)
Dec. 31, 2012
Dec. 31, 2011
Current inventories    
Raw materials $ 1,919,250 $ 1,612,901
Work in process 4,991,032 2,586,047
Finished goods 7,350,332 5,107,400
Inventory, Gross 14,260,614 9,306,348
Reserve for obsolescence (1,119,193) (826,638)
Current inventories, total 13,141,421 8,479,710
Non-current inventories    
Finished goods 1,238,225 920,542
Non-current inventories, total 1,238,225 920,542
Total inventories $ 14,379,646 $ 9,400,252
XML 31 R9.htm IDEA: XBRL DOCUMENT v2.4.0.6
Acquisition
 12 Months Ended
Dec. 31, 2012
Business Combinations [Abstract]  
Business Combination Disclosure [Text Block]

(3) Acquisition

 

On July 11, 2011, we signed an Asset Purchase Agreement (“Agreement”) with Robinson MedSurg, LLC (“Seller”), a company engaged in the manufacture, distribution and sale of implantable medical devices for maxillofacial, craniofacial and orthopedic uses. Under the terms of the Agreement, we purchased certain assets from Seller, as described in the Agreement, for $1 million in common stock. In addition, we agreed to pay Seller an additional $500,000 in common stock if gross revenue from the sale of products resulting from the purchased assets (“Products”) equals or exceeds $1 million, and an additional $500,000 in common stock when gross revenue from the sale of Products equals or exceeds $2 million, provided that such gross revenue thresholds are achieved within 2 years. As of December 31, 2012, these revenue thresholds have not been achieved. We also engaged the sole member of Seller as a consultant. We accounted for this business combination under the acquisition method in accordance with ASC 805 - Business Combinations, which requires the acquiring entity in a business combination to recognize all (and only) the assets acquired and liabilities assumed in the transaction; establishes the acquisition-date fair value as the measurement objective for all assets acquired and liabilities assumed; and requires the acquirer to disclose to investors and other users all of the information they need to evaluate and understand the nature and financial effect of the business combination.

 

The purchase price was allocated as follows:

 

Finished inventory   $ 504,827  
Customer list     157,077  
Trademark     59,644  
Goodwill     728,618  
         
Total purchase price   $ 1,450,166  

 

Goodwill is primarily made up of business synergies expected from the additional product offerings through our established distribution network.

 

The consideration for the purchase price was made up of the following components:

 

Stock issued   $ 1,000,000  
Contingent consideration     450,166  
Total consideration   $ 1,450,166  

 

The initial valuation of the contingent consideration was based upon management’s estimates of the probability of reaching the milestones that would trigger the requirement to pay the contingent amounts. During 2012, management reviewed and adjusted the assumptions associated with the contingent liability which resulted in a reduction of the contingent liability to $91,740 as of December 31, 2012.

 

The useful lives of the Customer List and the Trademark are 5 years and 15 years, respectively resulting in the following amortization schedule:

 

2013     35,392  
2014     35,392  
2015     35,392  
2016     26,229  
2017     3,976  
Thereafter     27,252  
Total   $ 163,633

 
XML 32 R62.htm IDEA: XBRL DOCUMENT v2.4.0.6
Warrants (Details Textual) (USD $)
 12 Months Ended 3 Months Ended 0 Months Ended 1 Months Ended 6 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Jul. 23, 2012
Dec. 31, 2010
Bridge Loan [Member]
Sep. 30, 2012
Broker [Member]
Jul. 29, 2011
Midcap and Svb [Member]
Dec. 31, 2010
Debt Financing [Member]
Mar. 31, 2012
Lincoln Park Capital Fund Llc [Member]
Mar. 31, 2011
Lincoln Park Capital Fund Llc [Member]
Jul. 23, 2012
Private Placement [Member]
Jun. 30, 2011
Private Placement [Member]
Jun. 30, 2011
Minimum [Member]
Private Placement [Member]
Jun. 30, 2011
Maximum [Member]
Private Placement [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights                     375,747    
Class of Warrant or Right, Exercise Price of Warrants or Rights $ 2.2 $ 2.22 $ 1.03   $ 2.30 $ 2.55       $ 1.03   $ 2.95 $ 3.52
Estimated Fair Value Of Warrants           $ 227,388         $ 312,285    
Outstanding at January 1, Shares 7,321,667 6,967,529   1,570,565   192,157 375,000 143,700 133,474        
Percentage Of Warrant Issued Over Credit Facility           7.00%              
Class Of Warrant Or Right Expiration Term           7 years              
Common Stock Issued During Period For Warrant Exercises 129,972                        
Unrealized Gain On Warranty Derivative Liability 1,360,160                        
Issuance of warrants 220,872 0     297,991         300,895      
Class Of Warrant Or Right Issued During Period Value                   $ 342,485      
EXCEL 33 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=%\Q,S!A.&0U,E\U8V)B7S0U9C)?8C(W-U\V.#%A M9C'!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%>&-E;%=O#I%>&-E;%=O#I%>&-E;%=O#I%>&-E;%=O#I%>&-E;%=O#I%>&-E;%=O#I7;W)K#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I. M86UE/E!R;W!E#I%>&-E;%=O#I%>&-E M;%=O#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I.86UE/E-T;V-K0F%S961?0V]M<&5N#I%>&-E;%=O#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I.86UE/DEN8V]M95]487AE#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I.86UE/D5M<&QO>65E7T)E;F5F:71?4&QA;G,\+W@Z3F%M93X- M"B`@("`\>#I7;W)K#I7;W)K#I.86UE/@T* M("`@(#QX.E=O#I% M>&-E;%=O#I.86UE/E-U8G-E<75E;G1?179E;G1S M/"]X.DYA;64^#0H@("`@/'@Z5V]R:W-H965T4V]U#I%>&-E;%=O#I.86UE/@T*("`@(#QX.E=O M#I%>&-E;%=O#I.86UE/D)U#I7;W)K#I7;W)K#I7;W)K5]A;F1?17%U:7!M96YT M7TYE=%]486(\+W@Z3F%M93X-"B`@("`\>#I7;W)K#I7 M;W)K#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I%>&-E;%=O#I%>&-E;%=O#I%>&-E;%=O&5S7U1A8FQE#I. M86UE/@T*("`@(#QX.E=O#I7;W)K#I%>&-E;%=O#I.86UE/@T*("`@(#QX.E=O M#I%>&-E;%=O#I.86UE/D)U#I7;W)K#I%>&-E;%=O#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I. M86UE/D)U#I7;W)K#I%>&-E;%=O M#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I.86UE/D%C<75I#I.86UE/@T* M("`@(#QX.E=O#I% M>&-E;%=O#I.86UE/D%C<75I#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I.86UE/D%C M<75I#I.86UE/@T*("`@(#QX.E=O M#I%>&-E;%=O#I.86UE/DEN=F5N=&]R:65S7T1E=&%I;',\+W@Z3F%M M93X-"B`@("`\>#I7;W)K5]A;F1? M17%U:7!M96YT7TYE=%]$970\+W@Z3F%M93X-"B`@("`\>#I7;W)K5]A;F1?17%U:7!M96YT7TYE=%]$970Q/"]X M.DYA;64^#0H@("`@/'@Z5V]R:W-H965T4V]U#I%>&-E;%=O#I%>&-E;%=O#I.86UE/D%C8W)U961?3&EA8FEL:71I97-?1&5T86EL#I.86UE M/@T*("`@(#QX.E=O#I%>&-E;%=O#I.86UE/DQO;F=T97)M7T1E8G1? M1&5T86EL#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I.86UE M/DQO;F=T97)M7T1E8G1?1&5T86EL#I%>&-E;%=O#I7;W)K#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I.86UE/E-T;V-K0F%S961?0V]M<&5N#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I%>&-E;%=O#I.86UE/E=A#I.86UE/@T*("`@(#QX.E=O M#I%>&-E;%=O#I.86UE/E=A#I.86UE M/@T*("`@(#QX.E=O#I%>&-E;%=O#I.86UE/E=A#I%>&-E;%=O#I. M86UE/D-O;6UI=&UE;G1S7V%N9%]#;VYT:6YG96YC:65S7S$\+W@Z3F%M93X- M"B`@("`\>#I7;W)K#I%>&-E;%=O&5S7T1E=&%I;',\+W@Z3F%M93X-"B`@("`\ M>#I7;W)K#I%>&-E;%=O&5S7T1E=&%I;'-?,CPO>#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I.86UE/DEN8V]M95]487AE#I7;W)K#I%>&-E M;%=O#I%>&-E;%=O#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I.86UE/E)E;&%T961?4&%R='E?5')A;G-A8W1I;VYS7T1E=#PO>#I.86UE M/@T*("`@(#QX.E=O#I%>&-E;%=O6QE#I!8W1I=F53:&5E=#X-"B`@/'@Z4')O=&5C=%-T#I0#I0#I0&UL/CPA6V5N9&EF72TM/@T*/"]H96%D/@T*("`\8F]D>3X-"B`@(#QP/E1H M:7,@<&%G92!S:&]U;&0@8F4@;W!E;F5D('=I=&@@36EC'1087)T7S$S,&$X9#4R7S5C8F)?-#5F,E]B,C'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA'0^/'-P86X^/"]S<&%N M/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N M/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$"!+97D\+W1D/@T*("`@("`@("`\=&0@8VQA2!& M:6QE3PO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M4VUA;&QE3QS<&%N/CPO'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\ M+W1R/@T*("`@("`@/'1R(&-L87-S/3-$'0^8F]N93QS<&%N/CPO'0^,3`M2SQS<&%N/CPO'0^/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$ M'0^1ED\'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT M9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R M/@T*("`@("`@/'1R(&-L87-S/3-$'0^/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$ M'0^3F\\2!#=7)R96YT(%)E<&]R=&EN9R!3=&%T=7,\+W1D M/@T*("`@("`@("`\=&0@8VQA'0^/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R M=%\Q,S!A.&0U,E\U8V)B7S0U9C)?8C(W-U\V.#%A9C'0O:'1M;#L@8VAA'0^/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$ M2!A;F0@97%U:7!M96YT+"!N970\ M+W1D/@T*("`@("`@("`\=&0@8VQA'0^/'-P86X^/"]S<&%N M/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N M/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$6%B;&4@+2!R96QA=&5D('!A6%L='D@;&EA8FEL:71Y M+"!L97-S(&-U'0^)FYB'0^)FYB3PO M=&0^#0H@("`@("`@(#QT9"!C;&%S3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT M4&%R=%\Q,S!A.&0U,E\U8V)B7S0U9C)?8C(W-U\V.#%A9C'0O:'1M;#L@8VAA7!E(&-O;G1E;G0],T0G=&5X="]H=&UL.R!C:&%RF5D/"]T M9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XU+#`P,"PP,#`\'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA'!E;G-E'!E;G-E*3PO'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S M'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@ M("`@/'1R(&-L87-S/3-$'0^/'-P86X^/"]S<&%N/CPO=&0^ M#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^ M#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI M(@T*#0H\:'1M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS M1$-O;G1E;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA7!E/3-$=&5X="]J879A'0^/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$ M'0^/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$ M'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@ M("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@ M("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@ M("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@ M("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@ M("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@ M("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@ M("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$&5R8VES92!O9B!W87)R86YT'0^/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N M/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N M/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N M/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N M/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N M/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N M/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C M;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^ M#0H@("`@("`@(#QT9"!C;&%S&5R8VES M92!O9B!O<'1I;VYS("AI;B!S:&%R97,I/"]T9#X-"B`@("`@("`@/'1D(&-L M87-S/3-$=&5X=#X\'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N M/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N M/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N M/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N M/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N M/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C M;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@ M("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C M;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C M;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C M;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C M;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C M;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T* M("`@("`@/'1R(&-L87-S/3-$'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S M'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S M'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S M'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S M'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S M'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@ M("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S M'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S&5R8VES92!O9B!W87)R86YT'0^/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S M'0^/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@ M("`@("`@(#QT9"!C;&%S'0O M:F%V87-C3X-"B`@("`\ M=&%B;&4@8VQA'0^/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$ M3PO=&0^#0H@("`@ M("`@(#QT9"!C;&%S3PO=&0^#0H@("`@("`@ M(#QT9"!C;&%S6UE M;G1S(&]N(&-A<&ET86P@;&5A&5R8VES92!O9B!W87)R86YT2!F:6YA;F-I;F<@86-T:79I=&EE7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T* M#0H\:'1M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O M;G1E;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA2!O9B!3:6=N:69I8V%N="!!8V-O=6YT M:6YG(%!O;&EC:65S/&)R/CPO'0^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S M/3-$'0^/'`@6QE/3-$)W1E>'0M:6YD96YT.B`P+C5I;CL@ M;6%R9VEN.B`P<'0@,'!X.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@ M=&EM97,L('-E2!O=VYE9"!S=6)S:61I M87)Y+"!"86-T97)I;B!);G1E2P@=&AE("8C.#(R,#M#;VUP86YY M)B,X,C(Q.R!O2!B86QA;F-E2!M971H;V1S(&%R92!U6QE/3-$)W1E>'0M86QI9VXZ(&IU'0M:6YD96YT.B`P M+C5I;CL@;6%R9VEN.B`P<'0@,'!X.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R M;VUA;BP@=&EM97,L('-E3L@;6%R9VEN.B`P<'0@,'!X.R!F;VYT.B`Q M,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E#L@9F]N=#H@,3!P="!T:6UE6QE/3-$)W1E>'0M86QI M9VXZ(&IU#L@9F]N=#H@,3!P="!T:6UE M2!R979I97=E9"!B>2!T:&4@ M96YT97)P2!P97)F;W)M86YC92!M96%S=7)E('5S960@ M8GD@;6%N86=E;65N="!I#L@ M9F]N=#H@,3!P="!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(&IU#L@9F]N=#H@,3!P="!T:6UE2!C:&%N9V4@:6X@ M<')I8VEN9R!O2!T:&4@0V]M<&%N>2!T;R!K965P('5P('=I M=&@@=&5C:&YO;&]G:6-A;"!C:&%N9V4N)B,Q-C`[)B,Q-C`[1G5R=&AE6QE/3-$)W1E>'0M86QI9VXZ(&IU'0M:6YD96YT.B`P M+C5I;CL@;6%R9VEN.B`P<'0@,'!X.R!F;VYT.B`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`Q)3L@8V]L;W(Z(&)L86-K.R<^)B,Q-C`[/"]T9#X-"CQT9"!S='EL M93TS1"=T97AT+6%L:6=N.B!L969T.R!W:61T:#H@,24[(&-O;&]R.B!B;&%C M:SLG/B0\+W1D/@T*/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT.R!W M:61T:#H@,3`E.R!C;VQO6QE/3-$)W1E M>'0M86QI9VXZ(&QE9G0[('=I9'1H.B`Q)3L@8V]L;W(Z(&)L86-K.R<^)#PO M=&0^#0H\=&0@6QE M/3-$)W1E>'0M86QI9VXZ(&QE9G0[('=I9'1H.B`Q)3L@8V]L;W(Z(&)L86-K M.R<^)B,Q-C`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`N-6EN.R!M87)G:6XZ(#!P="`P<'@[(&9O;G0Z(#$P<'0@=&EM97,@ M;F5W(')O;6%N+"!T:6UE2!C;VYS:61E2!L:7%U:60@:6YV97-T;65N M=',@<'5R8VAA&EM871E3L@=&5X="UI;F1E;G0Z(#`N-6EN.R!M87)G:6XZ(#!P="`P<'@[(&9O;G0Z M(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(&IU M'0M:6YD96YT.B`P+C5I;CL@;6%R9VEN.B`P<'0@,'!X.R!F M;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E3L@;6%R M9VEN.B`P<'0@,'!X.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM M97,L('-E2!P87DN)B,Q M-C`[)B,Q-C`[(%1H92!#;VUP86YY('!E'1E;F0@8W)E9&ET M+CPO<#X-"CQP('-T>6QE/3-$)W1E>'0M86QI9VXZ(&IU'0M M:6YD96YT.B`P+C5I;CL@;6%R9VEN.B`P<'0@,'!X.R!F;VYT.B`Q,'!T('1I M;65S(&YE=R!R;VUA;BP@=&EM97,L('-E3L@;6%R9VEN.B`P<'0@,'!X M.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E2=S(&5X:7-T:6YG(')E M8V5I=F%B;&5S+B!4:&4@0V]M<&%N>2!D971E'!E2!I'!E;G-E+B!4:&4@ M0V]M<&%N>2!D;V5S(&YO="!H879E(&%N>2!O9F8M8F%L86YC92!S:&5E="!C M6QE/3-$)W1E>'0M86QI9VXZ(&IU'0M:6YD96YT M.B`P+C5I;CL@;6%R9VEN.B`P<'0@,'!X.R!F;VYT.B`Q,'!T('1I;65S(&YE M=R!R;VUA;BP@=&EM97,L('-E2!I;F-L=61E9"!A;6]U;G1S(&1U M92!T;R!!;65R:6-A;B!$;VYO2!46QE/3-$)W1E>'0M:6YD96YT.B`P+C5I;CL@;6%R9VEN.B`P<'0@,'!X M.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E3L@;6%R9VEN.B`P<'0@,'!X.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R M;VUA;BP@=&EM97,L('-E2!B87-E9"!O;B!H:7-T;W)I8V%L('5S86=E(&%N9"!S M86QE2!R97-E2!R96-O6]N9"!T=V5L=F4@;6]N=&AS(&%R92!C;&%S6QE/3-$)W1E>'0M:6YD M96YT.B`P+C5I;CL@;6%R9VEN.B`P<'0@,'!X.R!F;VYT.B`Q,'!T('1I;65S M(&YE=R!R;VUA;BP@=&EM97,L('-E#L@9F]N=#H@,3!P="!T:6UE6QE/3-$)W1E>'0M86QI M9VXZ(&IU#L@9F]N=#H@,3!P="!T:6UE M'!E;G-E M9"!A#L@ M9F]N=#H@,3!P="!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(&IU#L@9F]N=#H@,3!P="!T:6UE6QE/3-$ M)W1E>'0M86QI9VXZ(&IU'0M:6YD96YT.B`P+C5I;CL@;6%R M9VEN.B`P<'0@,'!X.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM M97,L('-E3L@;6%R9VEN.B`P<'0@,'!X.R!F;VYT.B`Q,'!T('1I;65S M(&YE=R!R;VUA;BP@=&EM97,L('-E2UT:&%N M+6YO="!T:&%T(&=O;V1W:6QL(&UI9VAT(&)E(&EM<&%I2!T;R!P97)F;W)M('1H92!T=V\M2!C;VYD=6-T3L@=&5X M="UI;F1E;G0Z(#`N-6EN.R!M87)G:6XZ(#!P="`P<'@[(&9O;G0Z(#$P<'0@ M=&EM97,@;F5W(')O;6%N+"!T:6UE6QE M/3-$)W1E>'0M86QI9VXZ(&IU'0M:6YD96YT.B`P+C5I;CL@ M;6%R9VEN.B`P<'0@,'!X.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@ M=&EM97,L('-E3L@;6%R9VEN.B`P<'0@,'!X.R!F;VYT.B`Q,'!T('1I M;65S(&YE=R!R;VUA;BP@=&EM97,L('-E2!D97)I=F%T:79E(&EN M2!A6QE/3-$)W1E>'0M86QI9VXZ(&IU M'0M:6YD96YT.B`P+C5I;CL@;6%R9VEN.B`P<'0@,'!X.R!F M;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E3L@;6%R M9VEN.B`P<'0@,'!X.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM M97,L('-E2!P871E;G1S+B!);G1A;F=I M8FQE(&%SF%T:6]N+B!4:&4@0V]M<&%N>2!A;6]R=&EZ97,@=&AE3L@;6%R9VEN.B`P<'0@,'!X.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA M;BP@=&EM97,L('-E#L@9F]N=#H@,3!P="!T:6UE6QE/3-$)VUA#L@9F]N M=#H@,3!P="!T:6UE&5D(&]R(&1E=&5R;6EN M86)L93L@86YD(&0I(&-O;&QE8W1I;VX@;V8@=&AE($-O;7!A;GDF(S@R,3<[ M28C.#(Q-SMS('!O;&EC>2!I&5S+B8C,38P.R8C,38P.TEF(&%N(&%RF5D('=H96X@86-C97!T86YC92!I'!I6QE/3-$)W1E>'0M86QI9VXZ(&IU'0M:6YD96YT.B`P M+C5I;CL@;6%R9VEN.B`P<'0@,'!X.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R M;VUA;BP@=&EM97,L('-E3L@;6%R9VEN.B`P<'0@,'!X.R!F;VYT.B`Q M,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E2!T:&4@8W5S=&]M97(N)B,Q-C`[)B,Q-C`[ M5&AE(&-U2!I;G9O:6-E#L@9F]N=#H@,3!P="!T:6UE6QE/3-$ M)W1E>'0M86QI9VXZ(&IU#L@9F]N=#H@ M,3!P="!T:6UE2!R979E;G5E(&9R;VT@=&AI2!H87,@2!A9W)E96UE;G1S('=I=&@@3G5F:7@L(%)Y M365D(&%N9"!"87)D($%C8V5S7-T96US+B!2979E;G5E('5N9&5R('1H M97-E(&%G#L@9F]N=#H@,3!P="!T:6UE6QE/3-$)W1E>'0M M86QI9VXZ(&IU#L@9F]N=#H@,3!P="!T M:6UE#L@9F]N=#H@,3!P="!T:6UE2X@5&AE M2!O=F5R('1H92!V M97-T:6YG('!E#L@9F]N=#H@,3!P="!T:6UE6QE M/3-$)W1E>'0M86QI9VXZ(&IU#L@9F]N M=#H@,3!P="!T:6UE6QE/3-$)W1E>'0M86QI M9VXZ(&IU'0M:6YD96YT.B`P+C5I;CL@;6%R9VEN.B`P<'0@ M,'!X.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E3L@;6%R9VEN.B`P<'0@,'!X.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA M;BP@=&EM97,L('-E&EM871E;'D@)#4Q+#`P,"!A;F0@)#@Q+#`P,"!W97)E(&5X<&5N M65A2X\+W`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`P+C5I;CL@;6%R9VEN.B`P<'0@,'!X.R!F;VYT.B`Q M,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E6EN9R!A M;6]U;G0@;V8@86X@87-S970@;6%Y(&YO="!B92!R96-O=F5R86)L92X@4F5C M;W9E6EN9R!A;6]U M;G0@;V8@86X@87-S970@=&\@9G5T=7)E(&YE="!C87-H(&9L;W=S(&5X<&5C M=&5D('1O(&)E(&=E;F5R871E9"!B>2!T:&4@87-S970N($EF('-U8V@@87-S M971S(&%R92!C;VYS:61E65A M#L@ M9F]N=#H@,3!P="!T:6UE&5R8VES92!O M9B!S=&]C:R!O<'1I;VYS(&%N9"!W87)R86YT#L@9F]N=#H@,3!P="!T:6UE6QE/3-$)VUA#L@9F]N=#H@,3!P="!T:6UE6QE/3-$)W1E>'0M:6YD96YT.B`P+C5I;CL@;6%R9VEN.B`P<'0@,'!X M.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E3L@ M;6%R9VEN.B`P<'0@,'!X.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@ M=&EM97,L('-EF5D(&)A2!E6QE/3-$)V9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE"!P2!H87,@96QE8W1E M9"!T:&4@)B,X,C(P.W-H;W)T(&-U="!M971H;V0F(S@R,C$[(&]F(&-O;7!U M=&EN9R!I=',@:'EP;W1H971I8V%L('!O;VP@;V8@861D:71I;VYA;"!P86ED M+6EN(&-A<&ET86P@=&AA="!I#L@9F]N=#H@,3!P="!T:6UE6QE/3-$)VUA#L@9F]N=#H@,3!P="!T:6UE6QE/3-$)W1E>'0M:6YD96YT.B`P+C5I;CL@ M;6%R9VEN.B`P<'0@,'!X.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@ M=&EM97,L('-E3L@;6%R9VEN.B`P<'0@,'!X.R!F;VYT.B`Q,'!T('1I M;65S(&YE=R!R;VUA;BP@=&EM97,L('-E3L@=&5X="UI;F1E;G0Z(#`N-6EN.R!M87)G:6XZ(#!P M="`P<'@[(&9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE2!A6QE/3-$)W1E>'0M:6YD96YT.B`P+C5I;CL@;6%R9VEN.B`P<'0@ M,'!X.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E2P@96ET M:&5R(&1I6QE/3-$)W1E>'0M:6YD96YT.B`P+C5I;CL@;6%R9VEN.B`P M<'0@,'!X.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E M2!I2!I;G!U="!T:&%T(&ES('-I M9VYI9FEC86YT('1O('1H92!F86ER('9A;'5E(&UE87-U#L@9F]N=#H@,3!P="!T:6UE M6QE/3-$)VUA#L@9F]N=#H@,3!P="!T:6UE2!L979E;"P@=VET:&EN('1H92!F86ER('9A;'5E(&AI97)A M2P@;W5R(&%S"`P<'0@+3`N-6EN.R!F;VYT.B`Q,'!T('1I M;65S(&YE=R!R;VUA;BP@=&EM97,L('-E#L@9F]N=#H@,3!P="!T:6UE6QE M/3-$)W1E>'0M86QI9VXZ(&-E;G1E6QE M/3-$)W1E>'0M86QI9VXZ(&-E;G1E6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT.R!C;VQO6QE/3-$)V-O;&]R.B!B M;&%C:SLG/B8C,38P.SPO=&0^#0H\=&0@6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[(&-O;&]R.B!B;&%C:SLG/B8C,38P M.SPO=&0^#0H\=&0@6QE/3-$)W1E>'0M86QI9VXZ(&QE M9G0[(&-O;&]R.B!B;&%C:SLG/B8C,38P.SPO=&0^#0H\=&0@6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT.R!C;VQO6QE/3-$)W1E>'0M86QI9VXZ M(&QE9G0[('=I9'1H.B`Q)3L@8V]L;W(Z(&)L86-K.R<^)#PO=&0^#0H\=&0@ M6QE/3-$)W1E>'0M86QI9VXZ(&QE M9G0[('=I9'1H.B`Q)3L@8V]L;W(Z(&)L86-K.R<^)B,Q-C`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`Q)3L@8V]L;W(Z(&)L86-K M.R<^)B,Q-C`[/"]T9#X-"CQT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T M.R!W:61T:#H@,24[(&-O;&]R.B!B;&%C:SLG/B0\+W1D/@T*/'1D('-T>6QE M/3-$)W1E>'0M86QI9VXZ(')I9VAT.R!W:61T:#H@,3`E.R!C;VQO6QE/3-$)W1E>'0M86QI9VXZ M(&QE9G0[('=I9'1H.B`Q)3L@8V]L;W(Z(&)L86-K.R<^)B,Q-C`[/"]T9#X- M"CPO='(^#0H\+W1A8FQE/@T*/'`@6QE/3-$)W1E>'0M86QI9VXZ(&-E;G1E6QE/3-$)W1E>'0M86QI9VXZ(&-E;G1E6QE/3-$)W1E>'0M86QI9VXZ(&-E;G1E6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT.R!C M;VQO6QE M/3-$)V-O;&]R.B!B;&%C:SLG/B8C,38P.SPO=&0^#0H\=&0@6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[(&-O;&]R.B!B;&%C:SLG M/B8C,38P.SPO=&0^#0H\=&0@6QE/3-$)W1E>'0M86QI M9VXZ(&QE9G0[(&-O;&]R.B!B;&%C:SLG/B8C,38P.SPO=&0^#0H\=&0@6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT.R!C;VQO6QE/3-$)W1E>'0M M86QI9VXZ(&QE9G0[('=I9'1H.B`Q)3L@8V]L;W(Z(&)L86-K.R<^)#PO=&0^ M#0H\=&0@6QE/3-$)W1E>'0M86QI M9VXZ(&QE9G0[('=I9'1H.B`Q)3L@8V]L;W(Z(&)L86-K.R<^)B,Q-C`[/"]T M9#X-"CPO='(^#0H\+W1A8FQE/@T*/'`@#L@9F]N=#H@,3!P="!T M:6UE6QE/3-$)VUA#L@9F]N=#H@,3!P="!T:6UE6QE/3-$)VUA#L@9F]N=#H@,3!P="!T:6UE6QE/3-$)VUA#L@9F]N=#H@,3!P M="!T:6UE6QE/3-$)V)A8VMG6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('=I9'1H.B`Q M)3L@8V]L;W(Z(&)L86-K.R<^)#PO=&0^#0H\=&0@6QE/3-$)W1E>'0M86QI9VXZ(&QE M9G0[('!A9&1I;F'0M86QI9VXZ(&QE9G0[(&-O;&]R.B!B;&%C:SLG/B8C,38P.SPO=&0^ M#0H\=&0@6QE/3-$)V)A8VMG6QE M/3-$)W1E>'0M86QI9VXZ(&QE9G0[(&-O;&]R.B!B;&%C:SLG/B0\+W1D/@T* M/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT.R!C;VQO#L@9F]N=#H@,3!P="!T:6UE6QE/3-$)VUA#L@ M9F]N=#H@,3!P="!T:6UE6QE/3-$)W=I9'1H.B`W,"4[(&)O6QE/3-$)V)A8VMG6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('=I9'1H M.B`Q)3L@8V]L;W(Z(&)L86-K.R<^)#PO=&0^#0H\=&0@6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('=I M9'1H.B`Q)3L@8V]L;W(Z(&)L86-K.R<^)B,Q-C`[/"]T9#X-"CPO='(^#0H\ M='(@6QE/3-$)W!A M9&1I;F6QE/3-$)V)O6QE/3-$)V-O;&]R.B!B;&%C M:SLG/D)A;&%N8V4@870@1&5C96UB97(@,S$L(#(P,3(\+W1D/@T*/'1D('-T M>6QE/3-$)V-O;&]R.B!B;&%C:SLG/B8C,38P.SPO=&0^#0H\=&0@2!D:60@;F]T(&-H86YG92!A M;GD@;V8@=&AE('9A;'5A=&EO;B!T96-H;FEQ=65S('5S960@=&\@;65A28C.#(Q-SMS M(')O>6%L='D@;&EA8FEL:71Y(&ES(&-A2!D:7-C;W5N M=&5D('1H92`D,38N."!M:6QL:6]N(&]F(&5S=&EM871E9"!P87EM96YT2!T;W1A;"!O9B`D,3,N."!M:6QL M:6]N(&%S(&]F($1E8V5M8F5R(#,Q+"`R,#$R+B8C,38P.R!!8V-O2P@=&AE6QE/3-$)W1E>'0M:6YD96YT.B`P+C5I;CL@;6%R M9VEN.B`P<'0@,'!X.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM M97,L('-E'1087)T7S$S,&$X9#4R M7S5C8F)?-#5F,E]B,C'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA2!;06)S=')A M8W1=/"]S=')O;F<^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\ M'0^/'`@3PO<#X\<"!S='EL93TS1"=M M87)G:6XZ(#!P="`P<'@[(&9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T M:6UE3L@;6%R9VEN.B`P<'0@,'!X.R!F;VYT.B`Q,'!T('1I;65S M(&YE=R!R;VUA;BP@=&EM97,L('-E2!, M4$,@86=R965D('1O('!U2!,4$,N M(%5P;VX@6QE/3-$)W1E>'0M:6YD96YT.B`P+C5I;CL@;6%R9VEN.B`P M<'0@,'!X.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E M6QE/3-$)W1E>'0M86QI9VXZ(&IU#L@9F]N=#H@,3!P="!T:6UE#L@9F]N=#H@,3!P="!T:6UE2=S(&YO=&EC92!T M;R!,4$,N($]N($UA>2`S+"`R,#$R+"!W92!T97)M:6YA=&5D('1H92!,4$,@ M4'5R8VAA'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA M6QE/3-$ M)VUA#L@9F]N=#H@,3!P="!T:6UE6QE M/3-$)W1E>'0M:6YD96YT.B`P+C5I;CL@;6%R9VEN.B`P<'0@,'!X.R!F;VYT M.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E3L@;6%R9VEN M.B`P<'0@,'!X.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L M('-E2`Q,2P@,C`Q,2P@=V4@2!E;F=A9V5D(&EN('1H92!M86YU9F%C='5R92P@ M9&ES=')I8G5T:6]N(&%N9"!S86QE(&]F(&EM<&QA;G1A8FQE(&UE9&EC86P@ M9&5V:6-E2!I;B!A(&)U M3L@=&5X="UI;F1E;G0Z(#`N-6EN.R!M87)G:6XZ(#!P="`P<'@[ M(&9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE6QE/3-$)W1E>'0M:6YD96YT.B`P M+C5I;CL@;6%R9VEN.B`P<'0@,'!X.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R M;VUA;BP@=&EM97,L('-E6QE M/3-$)W=I9'1H.B`X,"4[(&)O6QE/3-$)V)A M8VMG6QE/3-$)W=I9'1H.B`Q)3L@8V]L;W(Z(&)L86-K.R<^)B,Q-C`[ M/"]T9#X-"CQT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T.R!W:61T:#H@ M,24[(&-O;&]R.B!B;&%C:SLG/B0\+W1D/@T*/'1D('-T>6QE/3-$)W1E>'0M M86QI9VXZ(')I9VAT.R!W:61T:#H@,36QE/3-$)V)A8VMG6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT.R!C;VQO6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[(&-O M;&]R.B!B;&%C:SLG/B8C,38P.SPO=&0^#0H\=&0@'0M86QI9VXZ(&QE9G0[ M(&-O;&]R.B!B;&%C:SLG/B8C,38P.SPO=&0^#0H\=&0@6QE/3-$)V)A8VMG6QE/3-$ M)V-O;&]R.B!B;&%C:SLG/B8C,38P.SPO=&0^#0H\=&0@#L@9F]N=#H@,3!P="!T:6UE M6QE/3-$)V9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE6QE/3-$)W=I9'1H.B`Q)3LG/B8C,38P.SPO=&0^#0H\=&0@ M6QE/3-$)W1E>'0M86QI9VXZ(')I M9VAT.R!W:61T:#H@,36QE/3-$)V)O6QE/3-$)V9O M;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE6QE/3-$)W1E>'0M86QI M9VXZ(')I9VAT.R<^/&9O;G0@2!O9B!R96%C:&EN9R!T:&4@ M;6EL97-T;VYE2!T:&4@8V]N=&EN9V5N="!A;6]U;G1S+B!$=7)I;F<@,C`Q,BP@ M;6%N86=E;65N="!R979I97=E9"!A;F0@861J=7-T960@=&AE(&%S#L@9F]N=#H@,3!P="!T:6UE6QE M/3-$)V9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE6QE/3-$)W=I9'1H M.B`Q)3LG/B8C,38P.SPO=&0^#0H\=&0@6QE/3-$)V9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T M:6UE6QE/3-$)V9O;G0Z(#$P<'0@=&EM97,@;F5W(')O M;6%N+"!T:6UE6QE/3-$ M)V)A8VMG6QE M/3-$)V9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE6QE/3-$)V)A8VMG6QE/3-$)W1E M>'0M86QI9VXZ(')I9VAT.R<^/&9O;G0@6QE/3-$)V9O;G0Z(#$P M<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE6QE/3-$)V)O6QE M/3-$)V9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE6QE/3-$)V)A8VMG6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT M.R<^/&9O;G0@6QE/3-$ M)VUA#L@9F]N=#H@,3!P="!T:6UE'0O:F%V87-C M3X-"B`@("`\=&%B;&4@ M8VQA'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R M(&-L87-S/3-$6QE/3-$)VUA#L@9F]N=#H@,3!P="!T:6UE6QE/3-$)VUA#L@9F]N=#H@,3!P="!T:6UE6QE/3-$)V9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T M:6UE6QE/3-$)W=I9'1H.B`Q)3LG(&YO=W)A<#TS1&YO=W)A<#XF M(S$V,#L\+W1D/@T*/'1D('-T>6QE/3-$)V)O6QE/3-$)W=I9'1H.B`Q)3LG(&YO=W)A<#TS M1&YO=W)A<#XF(S$V,#L\+W1D/@T*/'1D('-T>6QE/3-$)W=I9'1H.B`Q)3LG M(&YO=W)A<#TS1&YO=W)A<#XF(S$V,#L\+W1D/@T*/'1D('-T>6QE/3-$)V)O M6QE/3-$)W=I M9'1H.B`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`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`@("`\=&%B;&4@8VQA6QE/3-$)VUA#L@9F]N=#H@,3!P="!T:6UE#L@9F]N=#H@,3!P M="!T:6UE2!A;F0@97%U:7!M M96YT+"!N970@87)E(&%S(&9O;&QO=W,Z/"]P/CQP('-T>6QE/3-$)W1E>'0M M:6YD96YT.B`P+C5I;CL@;6%R9VEN.B`P<'0@,'!X.R!F;VYT.B`Q,'!T('1I M;65S(&YE=R!R;VUA;BP@=&EM97,L('-E6QE M/3-$)W9E6QE/3-$)W9E'0M86QI9VXZ(&-E M;G1E6QE/3-$)W!A9&1I;F6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('=I9'1H.B`Q)3L@9F]N=#H@,3!P M="!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT.R!W:61T M:#H@,3`E.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E M6QE/3-$)W=I9'1H.B`R)3L@9F]N=#H@,3!P="!T M:6UE6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('=I9'1H.B`Q M)3L@9F]N=#H@,3!P="!T:6UE6QE/3-$ M)W1E>'0M86QI9VXZ(&QE9G0[(&9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N M+"!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[(&9O;G0Z M(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE6QE/3-$)V9O;G0Z(#$P<'0@=&EM M97,@;F5W(')O;6%N+"!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[(&9O;G0Z M(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(')I M9VAT.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E6QE M/3-$)V9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE6QE/3-$)W1E>'0M M86QI9VXZ(&QE9G0[(&9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE M6QE M/3-$)W1E>'0M86QI9VXZ(')I9VAT.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R M;VUA;BP@=&EM97,L('-E6QE M/3-$)V)A8VMG3L@ M9F]N=#H@,3!P="!T:6UE6QE/3-$)V9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE6QE/3-$)W1E M>'0M86QI9VXZ(&QE9G0[(&9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T M:6UE6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT.R!F;VYT.B`Q,'!T('1I;65S(&YE M=R!R;VUA;BP@=&EM97,L('-E6QE/3-$)V)A8VMG6QE/3-$)W1E>'0M86QI9VXZ(&IU6QE/3-$)W1E>'0M86QI9VXZ M(&IU'0M86QI9VXZ(')I9VAT.R!F;VYT.B`Q M,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E'0M86QI9VXZ(&QE9G0[(&9O;G0Z(#$P<'0@=&EM M97,@;F5W(')O;6%N+"!T:6UE6QE/3-$)V)O6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('!A9&1I;F3L@9F]N=#H@,3!P="!T:6UE6QE/3-$)V9O M;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE6QE/3-$)W1E>'0M86QI9VXZ M(&QE9G0[(&9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE6QE/3-$)W1E M>'0M86QI9VXZ(')I9VAT.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@ M=&EM97,L('-E6QE/3-$)W1E>'0M86QI9VXZ(&IU6QE/3-$)W!A9&1I;F6QE/3-$ M)V)O6QE/3-$)W1E M>'0M86QI9VXZ(&QE9G0[('!A9&1I;F'0M86QI9VXZ(&QE9G0[(&9O;G0Z M(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE6QE/3-$)V)OF4Z(#$P<'0[)SXF(S$V,#L\+W1D/CQT9"!S M='EL93TS1"=P861D:6YG+6)O='1O;3H@,7!T.R!F;VYT.B`Q,'!T('1I;65S M(&YE=R!R;VUA;BP@=&EM97,L('-E'0M86QI9VXZ(&QE9G0[(&9O;G0Z(#$P<'0@=&EM97,@;F5W M(')O;6%N+"!T:6UE'0M86QI9VXZ(')I9VAT.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@ M=&EM97,L('-E'0M M86QI9VXZ(&QE9G0[(&9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE M'0M86QI9VXZ(')I M9VAT.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E#L@9F]N=#H@,3!P="!T M:6UE2!L96%S97,@8V5R M=&%I;B!E<75I<&UE;G0@=6YD97(@8V%P:71A;"!L96%S97,N($9O6UE M;G1S(')E;&%T:6YG('1O('1H92!AF5D+B!!6QE/3-$)W1E>'0M:6YD96YT.B`P+C5I;CL@;6%R9VEN.B`P<'0@,'!X.R!F M;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E6QE/3-$)VUA#L@9F]N=#H@,3!P M="!T:6UE'!E;G-E(')E;&%T960@=&\@<')O<&5R='D@86YD M(&5Q=6EP;65N="P@:6YC;'5D:6YG('!R;W!E'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA M'0^/'-P86X^/"]S<&%N/CPO=&0^ M#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$'0^/'`@6QE/3-$)W1E M>'0M:6YD96YT.B`P+C5I;CL@;6%R9VEN.B`P<'0@,'!X.R!F;VYT.B`Q,'!T M('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E6QE/3-$)VUA#L@9F]N=#H@,3!P="!T:6UE6QE/3-$)W1E>'0M:6YD96YT.B`P+C5I;CL@;6%R M9VEN.B`P<'0@,'!X.R!F;VYT.B`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`[/"]T9#X\=&0^)B,Q-C`[/"]T9#X\ M+W1R/CQTF%T:6]N(&5X<&5N6QE/3-$)V9O;G0Z M(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE6QE/3-$)V9O;G0Z M(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE6QE/3-$)V)A8VMG'!E;G-E.CPO9F]N=#X\+W1D/CQT9#XF M(S$V,#L\+W1D/CQT9#XF(S$V,#L\+W1D/CQT9"!S='EL93TS1"=T97AT+6%L M:6=N.B!R:6=H=#LG/B8C,38P.SPO=&0^/'1D/B8C,38P.SPO=&0^/'1D/B8C M,38P.SPO=&0^/'1D/B8C,38P.SPO=&0^/'1D('-T>6QE/3-$)W1E>'0M86QI M9VXZ(')I9VAT.R<^)B,Q-C`[/"]T9#X\=&0^)B,Q-C`[/"]T9#X\+W1R/CQT M6QE/3-$)W1E>'0M86QI9VXZ(')I M9VAT.R<^)B,Q-C`[/"]T9#X\=&0^)B,Q-C`[/"]T9#X\=&0^)B,Q-C`[/"]T M9#X\=&0^)B,Q-C`[/"]T9#X\=&0@6QE M/3-$)V)A8VMG6QE/3-$)V9O;G0Z(#$P<'0@=&EM97,@ M;F5W(')O;6%N+"!T:6UE6QE/3-$)W1E>'0M86QI M9VXZ(')I9VAT.R<^/&9O;G0@6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT.R<^)B,Q-C`[/"]T9#X\=&0^)B,Q M-C`[/"]T9#X\=&0^)B,Q-C`[/"]T9#X\=&0^/&9O;G0@6QE/3-$)V9O;G0Z M(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE6QE/3-$)V9O;G0Z(#$P<'0@=&EM97,@;F5W(')O M;6%N+"!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(')I M9VAT.R<^/&9O;G0@6QE/3-$)V9O;G0Z(#$P<'0@ M=&EM97,@;F5W(')O;6%N+"!T:6UE6QE/3-$)V9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T M:6UE6QE/3-$)V9O;G0Z M(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE'0M86QI9VXZ(')I9VAT.R<^ M/&9O;G0@6QE/3-$)V)A8VMG6QE/3-$)V9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE M6QE/3-$)W1E>'0M M86QI9VXZ(')I9VAT.R<^)B,Q-C`[/"]T9#X\=&0^)B,Q-C`[/"]T9#X\=&0^ M)B,Q-C`[/"]T9#X\=&0^/&9O;G0@6QE/3-$)V9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE M3X-"CPO:'1M;#X-"@T* M+2TM+2TM/5].97AT4&%R=%\Q,S!A.&0U,E\U8V)B7S0U9C)?8C(W-U\V.#%A M9C'0O:'1M;#L@8VAA7!E(&-O;G1E;G0],T0G=&5X="]H=&UL.R!C M:&%R'0^/'`@#L@9F]N=#H@,3!P="!T:6UE6QE/3-$)W=I9'1H.B`Q,#`E.R!B;W)D97(M M8V]L;&%P6QE/3-$)V9O;G0Z(#$P<'0@=&EM97,@ M;F5W(')O;6%N+"!T:6UE'0M86QI9VXZ(&-E;G1E6QE/3-$)W!A9&1I;F6QE/3-$ M)W!A9&1I;F6QE/3-$)V)O6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('=I9'1H.B`W,B4[(&9O M;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(&QE M9G0[('=I9'1H.B`Q)3L@9F]N=#H@,3!P="!T:6UE6QE/3-$ M)W1E>'0M86QI9VXZ(')I9VAT.R!W:61T:#H@,3`E.R!F;VYT.B`Q,'!T('1I M;65S(&YE=R!R;VUA;BP@=&EM97,L('-E6QE M/3-$)V)A8VMG6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[(&9O;G0Z M(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE6QE/3-$)W1E>'0M86QI M9VXZ(&QE9G0[(&9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE6QE M/3-$)W1E>'0M86QI9VXZ(&QE9G0[(&9O;G0Z(#$P<'0@=&EM97,@;F5W(')O M;6%N+"!T:6UE6QE/3-$)V9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE M6QE M/3-$)W1E>'0M86QI9VXZ(&QE9G0[(&9O;G0Z(#$P<'0@=&EM97,@;F5W(')O M;6%N+"!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT.R!F;VYT.B`Q,'!T('1I M;65S(&YE=R!R;VUA;BP@=&EM97,L('-E6QE/3-$)V)A8VMG M6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('!A9&1I;F'0M86QI9VXZ(&QE9G0[(&9O;G0Z(#$P<'0@=&EM M97,@;F5W(')O;6%N+"!T:6UE6QE/3-$)V)O6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('!A9&1I M;F6QE/3-$)W!A9&1I;F6QE/3-$)V)O6QE/3-$)W!A9&1I;F6QE/3-$)W!A M9&1I;F6QE/3-$)V)O6QE/3-$ M)V)O6QE/3-$ M)W1E>'0M86QI9VXZ(&QE9G0[('!A9&1I;F6QE/3-$)W!A9&1I;F6QE/3-$)V)O M6QE/3-$)V)O6QE/3-$)W1E>'0M86QI9VXZ M(&QE9G0[('!A9&1I;F7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S M+6%S8VEI(@T*#0H\:'1M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE M<75I=CTS1$-O;G1E;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA M'0^/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$ M6QE/3-$)VUA#L@9F]N=#H@ M,3!P="!T:6UE2!-:61#87`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`N(%1H92!D96)T(&1IF5D('1O(&EN=&5R97-T(&5X<&5N65A2!L:6%B:6QI='D@=VEL;"!B92!A8V-R971E M9"!T;R`D,3,N."!M:6QL:6]N('1H65A2X\+V9O;G0^/"]P/@T*/'`@3L@;6%R9VEN.B`P<'0@,'!X.R!F;VYT.B`Q,'!T('1I;65S M(&YE=R!R;VUA;BP@=&EM97,L('-E6QE/3-$)W1E>'0M86QI9VXZ(&IU#L@9F]N=#H@,3!P="!T:6UE2`D.30T+#`P,"!O9B!P3L@;6%R9VEN.B`P M<'0@,'!X.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E M&EM871E;'D@)#$P(&UI;&QI;VX@9F]L;&]W:6YG(')E<&%Y M;65N="!O9B!T:&4@97AI6QE/3-$)W1E>'0M:6YD96YT.B`P+C5I;CL@;6%R9VEN.B`P<'0@,'!X M.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E6QE/3-$)W=I9'1H.B`Y-24[(&)O6QE/3-$)W9E#L@9F]N=#H@,3!P="!T:6UE6QE/3-$)V)O6QE/3-$)W1E>'0M86QI9VXZ(&-E;G1E6QE/3-$)W=I M9'1H.B`W,B4[)SX\9F]N="!S='EL93TS1"=F;VYT.B`Q,'!T('1I;65S(&YE M=R!R;VUA;BP@=&EM97,L('-E6%B;&4@=&\@4D]3($%C<75I6QE/3-$)W=I9'1H.B`Q)3LG/CQF;VYT('-T>6QE/3-$ M)V9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE6QE/3-$)V9O M;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE6QE/3-$)V9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N M+"!T:6UE6QE/3-$)V9O;G0Z M(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE6QE/3-$)V9O;G0Z(#$P<'0@=&EM M97,@;F5W(')O;6%N+"!T:6UE6QE/3-$)V)A8VMG2!"86YK(&]F($)E M;&=R861E+"`D,3`L-S0V(&UO;G1H;'D@<&%Y;65N=',@:6YC;'5D:6YG(&EN M=&5R97-T+"!M871U2!B=6EL9&EN9SPO9F]N=#X\+W1D/@T*/'1D/B8C,38P.SPO=&0^#0H\=&0@ M'0M86QI9VXZ(')I9VAT.R<^/&9O;G0@6QE/3-$)V)O6QE/3-$)V)A8VMG6QE/3-$)V9O;G0Z(#$P<'0@=&EM97,@ M;F5W(')O;6%N+"!T:6UE6QE/3-$)V9O;G0Z(#$P<'0@=&EM97,@ M;F5W(')O;6%N+"!T:6UE6QE/3-$)V)A8VMG6QE/3-$)W1E M>'0M86QI9VXZ(')I9VAT.R<^)B,Q-C`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`Q)3L@8V]L;W(Z(&)L86-K.R<^)B,Q-C`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`X-R4[(&9O;G0M6QE/3-$)W=I9'1H.B`Q)3L@9F]N="US:7IE M.B`Q,'!T.R<^)B,Q-C`[/"]T9#X-"CQT9"!S='EL93TS1"=T97AT+6%L:6=N M.B!L969T.R!W:61T:#H@,24[(&9O;G0M6QE M/3-$)W1E>'0M86QI9VXZ(&QE9G0[('=I9'1H.B`Q)3L@9F]N="US:7IE.B`Q M,'!T.R<^)B,Q-C`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`P/"]T9#X-"CQT9"!S='EL M93TS1"=T97AT+6%L:6=N.B!L969T.R!F;VYT+7-I>F4Z(#$P<'0[)SX\+W1D M/@T*/"]T3X-"CPO:'1M;#X-"@T*+2TM M+2TM/5].97AT4&%R=%\Q,S!A.&0U,E\U8V)B7S0U9C)?8C(W-U\V.#%A9C'0O:'1M;#L@8VAA7!E(&-O;G1E;G0],T0G=&5X="]H=&UL.R!C:&%R M'0^/'`@3L@;6%R M9VEN.B`P<'0@,'!X.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM M97,L('-E2!);F-E;G1I=F4@4&QA;B`H(E1H92!0 M;&%N(BD@<')O=FED97,@9F]R('-T;V-K(&%W87)D2!B92!E:71H97(@:6YC96YT:79E('-T;V-K(&]P=&EO M;G,@=&\@96UP;&]Y965S+"!A2!T:&4@8V]M<&5N&5R8VES92X@4W1O8VL@;W!T:6]N&5R8VES92!P MF5D('5N9&5R('1H92!0;&%N(&%N9"!A M="!$96-E;6)E&EM871E;'D@,2PU M-3DL.#DX('-H87)E2!B92!A=71H;W)I>F5D+"!B=70@ M=6YI6QE M/3-$)W1E>'0M86QI9VXZ(&IU'0M:6YD96YT.B`P+C5I;CL@ M;6%R9VEN.B`P<'0@,'!X.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@ M=&EM97,L('-E3L@;6%R9VEN.B`P<'0@,'!X.R!F;VYT.B`Q,'!T('1I M;65S(&YE=R!R;VUA;BP@=&EM97,L('-E2!E>'!E M8W1E9"!T;R!V97-T(&%N9"!R969L96-T2P@:6X@3L@=&5X="UI;F1E;G0Z(#`N-6EN.R!M87)G:6XZ(#!P="`P<'@[(&9O M;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE2!A3LG/E)I2!R969E M2!Y:65L9',@870@;W(@;F5A6QE M/3-$)W1E>'0M86QI9VXZ(&IU'0M:6YD96YT.B`M,"XR-6EN M.R!M87)G:6XZ(#!P="`P<'@@,'!T(#`N-6EN.R!F;VYT.B`Q,'!T('-Y;6)O M;#LG/B8C,38P.SPO<#X-"CQT86)L92!S='EL93TS1"=M87)G:6XM=&]P.B`P M<'0[('=I9'1H.B`Q,#`E.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@ M=&EM97,L('-E6QE/3-$)W9E6QE/3-$)W=I9'1H.B`P+C(U:6X[)SX\9F]N=#XF(S$X M,SL\+V9O;G0^/"]T9#X-"CQT9"!S='EL93TS1"=T97AT+6%L:6=N.B!J=7-T M:69Y.R<^/&9O;G0@2!T;R!E'!E8W1E M9"!T97)M(&]F('-T;V-K+6)A2!3=&%F9B!!8V-O=6YT:6YG($)U;&QE=&EN(#$P-R!T;R!D971E65A6QE/3-$)W9E6QE/3-$)W=I9'1H.B`P+C(U:6X[)SX\9F]N=#XF M(S$X,SL\+V9O;G0^/"]T9#X-"CQT9"!S='EL93TS1"=T97AT+6%L:6=N.B!J M=7-T:69Y.R<^5F]L871I;&ET>3H@5V4@97-T:6UA=&4@97AP96-T960@=F]L M871I;&ET>2!B87-E9"!O;B!P965R+6-O;7!A;FEE6QE/3-$ M)W1E>'0M86QI9VXZ(&IU'0M:6YD96YT.B`M,"XR-6EN.R!M M87)G:6XZ(#!P="`P<'@@,'!T(#`N-S5I;CL@9F]N=#H@,3!P="!T:6UE6QE/3-$)W9E6QE/3-$)W=I9'1H M.B`P+C(U:6X[)SX\9F]N=#XF(S$X,SL\+V9O;G0^/"]T9#X-"CQT9"!S='EL M93TS1"=T97AT+6%L:6=N.B!J=7-T:69Y.R<^1&EV:61E;F0@66EE;&0Z(%1H M92!D:79I9&5N9"!Y:65L9"!A'!E8W1A=&EO;B!O9B!D:79I9&5N9"!P87EO=71S(&%N M9"!W87,@,"4@87,@;V8@1&5C96UB97(@,S$L(#(P,3(@86YD(#(P,3$N/"]T M9#X-"CPO='(^#0H\+W1A8FQE/@T*/'`@2!U;F1E6QE/3-$)W1E M>'0M:6YD96YT.B`P+C5I;CL@;6%R9VEN.B`P<'0@,'!X.R!F;VYT.B`Q,'!T M('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E6QE/3-$)W=I9'1H.B`Y-24[(&)O6QE/3-$)W9E'0M86QI9VXZ(&-E;G1E'0M86QI9VXZ(&-E;G1E6QE/3-$)W!A9&1I M;F6QE/3-$)V)O'0M86QI9VXZ(&-E;G1E6QE/3-$)W!A9&1I;F6QE/3-$)W!A M9&1I;F6QE/3-$)V)O&5R8VES928C,38P.U!R:6-E/"]T9#X- M"CQT9"!S='EL93TS1"=P861D:6YG+6)O='1O;3H@,7!T.R!C;VQO'0M86QI9VXZ(&-E;G1E6QE/3-$)W=I9'1H.B`R,B4[(&-O;&]R.B!B;&%C:SLG/D]U M='-T86YD:6YG(&%T($IA;G5A6QE M/3-$)W1E>'0M86QI9VXZ(&QE9G0[('=I9'1H.B`Q)3L@8V]L;W(Z(&)L86-K M.R<^)B,Q-C`[/"]T9#X-"CQT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H M=#L@=VED=&@Z(#$P)3L@8V]L;W(Z(&)L86-K.R<^-"PX,C@L.3$P/"]T9#X- M"CQT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T.R!W:61T:#H@,24[(&-O M;&]R.B!B;&%C:SLG/B8C,38P.SPO=&0^#0H\=&0@6QE/3-$ M)W1E>'0M86QI9VXZ(&QE9G0[('=I9'1H.B`Q)3L@8V]L;W(Z(&)L86-K.R<^ M)#PO=&0^#0H\=&0@6QE/3-$ M)W1E>'0M86QI9VXZ(&QE9G0[('=I9'1H.B`Q)3L@8V]L;W(Z(&)L86-K.R<^ M)B,Q-C`[/"]T9#X-"CQT9"!S='EL93TS1"=W:61T:#H@,24[(&-O;&]R.B!B M;&%C:SLG/B8C,38P.SPO=&0^#0H\=&0@6QE/3-$)W=I9'1H.B`Q)3L@8V]L;W(Z(&)L86-K.R<^)B,Q-C`[ M/"]T9#X-"CQT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T.R!W:61T:#H@ M,24[(&-O;&]R.B!B;&%C:SLG/B8C,38P.SPO=&0^#0H\=&0@6QE/3-$)W=I9'1H.B`Q)3L@8V]L;W(Z(&)L86-K.R<^)B,Q-C`[/"]T M9#X-"CQT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T.R!W:61T:#H@,24[ M(&-O;&]R.B!B;&%C:SLG/B0\+W1D/@T*/'1D('-T>6QE/3-$)W1E>'0M86QI M9VXZ(')I9VAT.R!W:61T:#H@,3`E.R!C;VQO6QE M/3-$)W1E>'0M86QI9VXZ(&QE9G0[('=I9'1H.B`Q)3L@8V]L;W(Z(&)L86-K M.R<^)#PO=&0^#0H\=&0@6QE M/3-$)W1E>'0M86QI9VXZ(&QE9G0[('=I9'1H.B`Q)3L@8V]L;W(Z(&)L86-K M.R<^)B,Q-C`[/"]T9#X-"CPO='(^#0H\='(@6QE M/3-$)W1E>'0M86QI9VXZ(&QE9G0[(&-O;&]R.B!B;&%C:SLG/B8C,38P.SPO M=&0^#0H\=&0@6QE/3-$ M)W1E>'0M86QI9VXZ(&QE9G0[(&-O;&]R.B!B;&%C:SLG/B8C,38P.SPO=&0^ M#0H\=&0@6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[ M(&-O;&]R.B!B;&%C:SLG/B8C,38P.SPO=&0^#0H\=&0@6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT.R!C;VQO6QE/3-$)V-O;&]R.B!B;&%C M:SLG/B8C,38P.SPO=&0^#0H\=&0@6QE/3-$)V-O;&]R.B!B;&%C:SLG M/B8C,38P.SPO=&0^#0H\=&0@6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[(&-O;&]R.B!B M;&%C:SLG/B8C,38P.SPO=&0^#0H\=&0@6QE/3-$ M)W1E>'0M86QI9VXZ(&QE9G0[(&-O;&]R.B!B;&%C:SLG/B8C,38P.SPO=&0^ M#0H\+W1R/@T*/'1R('-T>6QE/3-$)V)A8VMG&5R8VES960\+W1D/@T*/'1D('-T>6QE/3-$)V-O M;&]R.B!B;&%C:SLG/B8C,38P.SPO=&0^#0H\=&0@6QE/3-$)W1E M>'0M86QI9VXZ(')I9VAT.R!C;VQO6QE/3-$)V-O;&]R.B!B;&%C:SLG/B8C,38P M.SPO=&0^#0H\=&0@6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[(&-O;&]R.B!B;&%C:SLG M/B8C,38P.SPO=&0^#0H\=&0@6QE M/3-$)W1E>'0M86QI9VXZ(&QE9G0[(&-O;&]R.B!B;&%C:SLG/B8C,38P.SPO M=&0^#0H\=&0@6QE/3-$)W1E>'0M86QI9VXZ(&QE M9G0[(&-O;&]R.B!B;&%C:SLG/B8C,38P.SPO=&0^#0H\=&0@6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT.R!C;VQO6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('!A9&1I;F'!I M6QE/3-$)V)O'0M86QI9VXZ(')I9VAT M.R!C;VQO6QE M/3-$)W1E>'0M86QI9VXZ(&QE9G0[('!A9&1I;F6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[ M('!A9&1I;F6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT.R!P M861D:6YG+6)O='1O;3H@,7!T.R!C;VQO6QE M/3-$)W!A9&1I;F6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('!A M9&1I;F6QE/3-$)W!A9&1I;F6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('!A9&1I;F6QE/3-$)W1E>'0M86QI M9VXZ(&QE9G0[('!A9&1I;F6QE/3-$)V)A8VMG6QE/3-$)W1E>'0M86QI M9VXZ(')I9VAT.R!C;VQO6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[(&-O;&]R.B!B;&%C:SLG/B8C M,38P.SPO=&0^#0H\=&0@6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[(&-O;&]R.B!B;&%C:SLG/B0\+W1D M/@T*/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT.R!C;VQO6QE/3-$)V-O M;&]R.B!B;&%C:SLG/B8C,38P.SPO=&0^#0H\=&0@6QE/3-$)V-O;&]R M.B!B;&%C:SLG/B8C,38P.SPO=&0^#0H\=&0@6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[(&-O;&]R.B!B;&%C:SLG M/B8C,38P.SPO=&0^#0H\=&0@&5R8VES86)L92!A="!$96-E;6)E6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT.R!C;VQO M6QE/3-$)W1E>'0M M86QI9VXZ(&QE9G0[(&-O;&]R.B!B;&%C:SLG/B8C,38P.SPO=&0^#0H\=&0@ M6QE/3-$)W1E>'0M86QI M9VXZ(&QE9G0[(&-O;&]R.B!B;&%C:SLG/B0\+W1D/@T*/'1D('-T>6QE/3-$ M)W1E>'0M86QI9VXZ(')I9VAT.R!C;VQO6QE/3-$)V-O;&]R.B!B;&%C:SLG/B8C M,38P.SPO=&0^#0H\=&0@6QE/3-$)V-O;&]R.B!B;&%C:SLG/B8C,38P M.SPO=&0^#0H\=&0@6QE/3-$)W1E M>'0M86QI9VXZ(&QE9G0[(&-O;&]R.B!B;&%C:SLG/B8C,38P.SPO=&0^#0H\ M=&0@3L@;6%R9VEN.B`P M<'0@,'!X.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E M3L@;6%R9VEN.B`P<'0@,'!X.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R M;VUA;BP@=&EM97,L('-E&5R8VES86)L92!O M<'1I;VYS(&%S(&]F($1E8V5M8F5R(#,Q+"`R,#$R(&ES("0T-S,L-#$V+B!! M#L@9F]N=#H@ M,3!P="!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(&IU#L@9F]N=#H@,3!P="!T:6UE2!G#L@9F]N=#H@,3!P="!T:6UE6QE/3-$)W1E>'0M M86QI9VXZ(&IU#L@9F]N=#H@,3!P="!T M:6UE65A#L@9F]N=#H@,3!P="!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('=I9'1H.B`X M,"4[(&-O;&]R.B!B;&%C:SLG/D]U='-T86YD:6YG(&%T($IA;BX@,2P@,C`Q M,CPO=&0^#0H\=&0@6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[ M('=I9'1H.B`Q)3L@8V]L;W(Z(&)L86-K.R<^)B,Q-C`[/"]T9#X-"CQT9"!S M='EL93TS1"=T97AT+6%L:6=N.B!R:6=H=#L@=VED=&@Z(#$W)3L@8V]L;W(Z M(&)L86-K.R<^,2PV,S(L.3`P/"]T9#X-"CQT9"!S='EL93TS1"=T97AT+6%L M:6=N.B!L969T.R!W:61T:#H@,24[(&-O;&]R.B!B;&%C:SLG/B8C,38P.SPO M=&0^#0H\+W1R/@T*/'1R('-T>6QE/3-$)V)A8VMG6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT.R!C;VQO6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[(&-O;&]R.B!B;&%C M:SLG/B8C,38P.SPO=&0^#0H\=&0@6QE/3-$)W!A9&1I;F'0M86QI9VXZ(')I9VAT.R!C;VQO M6QE/3-$)V)A8VMG6QE/3-$)W1E>'0M M86QI9VXZ(')I9VAT.R!C;VQO#L@9F]N=#H@,3!P="!T M:6UE6QE/3-$)W1E>'0M86QI9VXZ(&IU#L@9F]N=#H@,3!P="!T:6UE65A2!R M96-O9VYI>F5D(&YO;B!C87-H(&-O;G-U;'1I;F<@97AP96YS92!O9B`D-#(W M+#65T(')E M8V]G;FEZ960@:7,@)#4V,BPV,C(@86YD(&ES(&5X<&5C=&5D('1O(&)E(')E M8V]G;FEZ960@;W9E'0O:F%V M87-C3X-"B`@("`\=&%B M;&4@8VQA2!4'0@0FQO M8VM=/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<"!S='EL93TS M1"=M87)G:6XZ(#!P="`P<'@[(&9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N M+"!T:6UE#L@9F]N=#H@,3!P M="!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(&IU#L@9F]N=#H@,3!P="!T:6UE&5R8VES92!P#L@9F]N M=#H@,3!P="!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(&IU#L@9F]N=#H@,3!P="!T:6UE2`R.2P@,C`Q M,4UI9$-A<"!F:6YA;F-I;F<@9&5S8W)I8F5D(&%B;W9E+"!-:61#87`@86YD M(%-60B!R96-E:79E9"`Q.3(L,34W('=A2!D:79I9&5D(&)Y M('1H92!E>&5R8VES92!P65A2X@5&AE(&9A:7(@=F%L=64@;V8@=&AE#L@9F]N=#H@,3!P M="!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(&IU#L@9F]N=#H@,3!P="!T:6UE2`R,RP@,C`Q,B!T:&4@0V]M<&%N>2!I2!R97-U;'1I;F<@:6X@)#,T,BPT.#4@6QE/3-$)W1E>'0M86QI9VXZ(&IU#L@9F]N=#H@,3!P="!T:6UE6QE/3-$)VUA#L@9F]N M=#H@,3!P="!T:6UE6QE/3-$)W1E>'0M:6YD96YT.B`P+C5I;CL@;6%R9VEN.B`P M<'0@,'!X.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E M6QE/3-$)W=I9'1H.B`Y,"4[ M(&)O6QE/3-$)W9E6QE M/3-$)W9E6QE/3-$)W1E>'0M M86QI9VXZ(&-E;G1E6QE/3-$)V-O;&]R.B!B;&%C:SLG(&YO=W)A<#TS1&YO=W)A<#XF M(S$V,#L\+W1D/@T*/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&-E;G1E6QE/3-$)W!A9&1I;F6QE/3-$)V)O'0M86QI9VXZ(&-E;G1E6QE/3-$)W=I9'1H.B`W-"4[(&-O;&]R.B!B M;&%C:SLG/D]U='-T86YD:6YG(&%T($IA;G5A6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('=I9'1H.B`Q M)3L@8V]L;W(Z(&)L86-K.R<^)B,Q-C`[/"]T9#X-"CQT9"!S='EL93TS1"=T M97AT+6%L:6=N.B!R:6=H=#L@=VED=&@Z(#$P)3L@8V]L;W(Z(&)L86-K.R<^ M-BPY-C6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('=I9'1H.B`Q)3L@ M8V]L;W(Z(&)L86-K.R<^)#PO=&0^#0H\=&0@6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('=I9'1H.B`Q)3L@ M8V]L;W(Z(&)L86-K.R<^)B,Q-C`[/"]T9#X-"CPO='(^#0H\='(@6QE/3-$)V-O;&]R.B!B;&%C:SLG/B8C,38P.SPO=&0^ M#0H\=&0@6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[(&-O;&]R.B!B;&%C:SLG/B8C M,38P.SPO=&0^#0H\=&0@6QE/3-$)W1E>'0M86QI M9VXZ(&QE9G0[(&-O;&]R.B!B;&%C:SLG/B8C,38P.SPO=&0^#0H\+W1R/@T* M/'1R('-T>6QE/3-$)V)A8VMG6QE/3-$)W!A9&1I;F6QE/3-$)V)O6QE/3-$)V)O'0M86QI9VXZ(')I9VAT.R!C;VQO M6QE/3-$)V-O;&]R.B!B;&%C:SLG/D]U='-T86YD:6YG(&%T($1E8V5M8F5R M(#,Q+"`R,#$R/"]T9#X-"CQT9"!S='EL93TS1"=C;VQO6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[(&-O M;&]R.B!B;&%C:SLG/B8C,38P.SPO=&0^#0H\=&0@6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[(&-O;&]R M.B!B;&%C:SLG/B0\+W1D/@T*/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I M9VAT.R!C;VQO6QE/3-$)W1E>'0M:6YD96YT.B`P M+C5I;CL@;6%R9VEN.B`P<'0@,'!X.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R M;VUA;BP@=&EM97,L('-EF5D(&=A:6X@;V8@)#$L,S8P+#$V,"!R97-U;'1I;F<@9G)O;2!T M:&4@8VAA;F=E(&EN('1H92!F86ER('9A;'5E(&]F('1H92!W87)R86YT(&1E M6QE/3-$)W1E>'0M86QI9VXZ(&IU#L@ M9F]N=#H@,3!P="!T:6UE6QE/3-$)VUA#L@9F]N=#H@ M,3!P="!T:6UE#L@9F]N=#H@,3!P="!T:6UE6QE/3-$)W9E'0M86QI9VXZ(&-E;G1E6QE/3-$)W9E'0M86QI9VXZ(&-E;G1E6QE/3-$)W!A9&1I;F6QE M/3-$)W!A9&1I;F6QE/3-$)V)O6QE/3-$)V)A8VMG6QE/3-$ M)W1E>'0M86QI9VXZ(&QE9G0[('=I9'1H.B`Q)3L@8V]L;W(Z(&)L86-K.R<@ M;F]W6QE/3-$)W1E>'0M86QI M9VXZ(')I9VAT.R!W:61T:#H@,3`E.R!C;VQO6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('=I9'1H.B`Q)3L@8V]L;W(Z(&)L M86-K.R<@;F]W6QE/3-$)W1E M>'0M86QI9VXZ(')I9VAT.R!W:61T:#H@,3`E.R!C;VQO6QE/3-$ M)W1E>'0M86QI9VXZ(&QE9G0[(&-O;&]R.B!B;&%C:SLG/E)I6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[ M(&-O;&]R.B!B;&%C:SLG(&YO=W)A<#TS1&YO=W)A<#XF(S$V,#L\+W1D/@T* M/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT.R!C;VQO6QE/3-$)V)A8VMG'!E8W1E9"!T97)M/"]T M9#X-"CQT9"!S='EL93TS1"=C;VQO6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[(&-O;&]R.B!B;&%C:SLG M(&YO=W)A<#TS1&YO=W)A<#XF(S$V,#L\+W1D/@T*/'1D('-T>6QE/3-$)W1E M>'0M86QI9VXZ(')I9VAT.R!C;VQO6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[(&-O;&]R M.B!B;&%C:SLG(&YO=W)A<#TS1&YO=W)A<#XF(S$V,#L\+W1D/@T*/'1D('-T M>6QE/3-$)V-O;&]R.B!B;&%C:SLG(&YO=W)A<#TS1&YO=W)A<#XF(S$V,#L\ M+W1D/@T*/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[(&-O;&]R.B!B M;&%C:SLG(&YO=W)A<#TS1&YO=W)A<#XF(S$V,#L\+W1D/@T*/'1D('-T>6QE M/3-$)W1E>'0M86QI9VXZ(')I9VAT.R!C;VQO6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[ M(&-O;&]R.B!B;&%C:SLG/B8C,38P.SPO=&0^#0H\+W1R/@T*/'1R('-T>6QE M/3-$)V)A8VMG6EE;&0\+W1D/@T*/'1D('-T>6QE/3-$ M)V-O;&]R.B!B;&%C:SLG/B8C,38P.SPO=&0^#0H\=&0@6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[(&-O;&]R.B!B;&%C M:SLG/B8C,38P.SPO=&0^#0H\+W1R/@T*/'1R('-T>6QE/3-$)V)A8VMG6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[(&-O;&]R.B!B;&%C:SLG(&YO M=W)A<#TS1&YO=W)A<#XF(S$V,#L\+W1D/@T*/'1D('-T>6QE/3-$)W1E>'0M M86QI9VXZ(')I9VAT.R!C;VQO6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[(&-O;&]R M.B!B;&%C:SLG(&YO=W)A<#TS1&YO=W)A<#XE/"]T9#X-"CQT9"!S='EL93TS M1"=C;VQO6QE/3-$)W1E>'0M86QI9VXZ(&-E;G1EF4Z(#$P<'0[ M)SXF(S$V,#L\+W1D/@T*/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&-E;G1E MF4Z(#$P<'0[)SXF(S$V,#L\+W1D/@T*/'1D('-T>6QE/3-$)V)O6QE/3-$)W1E>'0M86QI9VXZ(&-E;G1EF4Z(#$P M<'0[)SXF(S$V,#L\+W1D/@T*/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&-E M;G1E'0M86QI9VXZ(&-E;G1E6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT M.R!W:61T:#H@,3`E.R!F;VYT+7-I>F4Z(#$P<'0[)SXQ+#4Y-2PT-S,\+W1D M/@T*/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('=I9'1H.B`Q)3L@ M9F]N="US:7IE.B`Q,'!T.R<^)B,Q-C`[/"]T9#X-"CPO='(^#0H\='(@F4Z(#$P M<'0[)SXF(S$V,#L\+W1D/@T*/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I M9VAT.R!C;VQO6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[(&-O;&]R.B!B M;&%C:SL@9F]N="US:7IE.B`Q,'!T.R<^)B,Q-C`[/"]T9#X-"CQT9"!S='EL M93TS1"=F;VYT+7-I>F4Z(#$P<'0[)SXF(S$V,#L\+W1D/@T*/'1D('-T>6QE M/3-$)W1E>'0M86QI9VXZ(&QE9G0[(&9O;G0M6QE/3-$)W1E>'0M M86QI9VXZ(&QE9G0[(&9O;G0M6QE/3-$)V)A8VMGF4Z(#$P<'0[)SXM/"]T9#X-"CQT9"!S='EL93TS M1"=T97AT+6%L:6=N.B!L969T.R!P861D:6YG+6)O='1O;3H@,7!T.R!C;VQO M'0M86QI9VXZ(&QE9G0[(&9O;G0M6QE/3-$)W1E>'0M M86QI9VXZ(&QE9G0[('!A9&1I;F6QE/3-$)V-O;&]R.B!B;&%C:SL@9F]N="US:7IE.B`Q,'!T.R<^0F%L M86YC92!A="!$96-E;6)EF4Z(#$P<'0[)SXF(S$V,#L\+W1D/@T*/'1D('-T M>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[(&-O;&]R.B!B;&%C:SL@9F]N="US M:7IE.B`Q,'!T.R<^)B,Q-C`[/"]T9#X-"CQT9"!S='EL93TS1"=T97AT+6%L M:6=N.B!R:6=H=#L@8V]L;W(Z(&)L86-K.R!F;VYT+7-I>F4Z(#$P<'0[)SXQ M+#8T.2PW,#<\+W1D/@T*/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[ M(&-O;&]R.B!B;&%C:SL@9F]N="US:7IE.B`Q,'!T.R<^)B,Q-C`[/"]T9#X- M"CQT9"!S='EL93TS1"=F;VYT+7-I>F4Z(#$P<'0[)SXF(S$V,#L\+W1D/@T* M/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[(&9O;G0M7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S M+6%S8VEI(@T*#0H\:'1M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE M<75I=CTS1$-O;G1E;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA M6QE/3-$)VUA M#L@9F]N=#H@,3!P="!T:6UE6QE/3-$)W1E>'0M M:6YD96YT.B`P+C5I;CL@;6%R9VEN.B`P<'0@,'!X.R!F;VYT.B`Q,'!T('1I M;65S(&YE=R!R;VUA;BP@=&EM97,L('-E#L@9F]N=#H@,3!P="!T M:6UE6QE/3-$)W1E>'0M86QI9VXZ(&IU#L@9F]N=#H@,3!P="!T:6UE2P@=V4@:&%V92!T:&4@ M&5R8VES960@=&AE(&]P=&EO;B!T;R!E>'1E;F0@=&AE(&QE87-E('1H870@ M97AP:7)E2!U;F1E'0@9FEV92!Y M96%R#L@9F]N=#H@,3!P="!T:6UE6QE M/3-$)W1E>'0M86QI9VXZ(&QE9G0[('=I9'1H.B`Q)3L@8V]L;W(Z(&)L86-K M.R<^)#PO=&0^#0H\=&0@6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('=I9'1H.B`Q)3L@8V]L;W(Z(&)L M86-K.R<^)B,Q-C`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`P+C5I;CL@ M;6%R9VEN.B`P<'0@,'!X.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@ M=&EM97,L('-E3L@;6%R9VEN.B`P<'0@,'!X.R!F;VYT.B`Q,'!T('1I M;65S(&YE=R!R;VUA;BP@=&EM97,L('-E'!E;G-E('=A M6QE/3-$)W1E>'0M86QI9VXZ(&IU'0M:6YD96YT.B`P M+C5I;CL@;6%R9VEN.B`P<'0@,'!X.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R M;VUA;BP@=&EM97,L('-E3L@;6%R9VEN.B`P<'0@,'!X.R!F;VYT.B`Q M,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E#L@ M9F]N=#H@,3!P="!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(&IU#L@9F]N=#H@,3!P="!T:6UE6EN9R!C=7-T;VUE2=S(&EN=&5L;&5C='5A;"!P2!R:6=H=',N(%1O(&1A M=&4L('=E(&AA=F4@;F]T(&EN8W5R2!M871E3L@=&5X="UI;F1E;G0Z(#`N-6EN.R!M87)G:6XZ(#!P M="`P<'@[(&9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE2!O=7(@9&ER96-T;W)S(&%N9"!E>&5C=71I=F4@;V9F:6-E2!A;GD@;V8@=&AE2!B>2!R96%S M;VX@;V8@=&AE('!E2!U2!O=&AE3L@ M=&5X="UI;F1E;G0Z(#`N-6EN.R!M87)G:6XZ(#!P="`P<'@[(&9O;G0Z(#$P M<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE6QE/3-$)W1E>'0M M:6YD96YT.B`P+C5I;CL@;6%R9VEN.B`P<'0@,'!X.R!F;VYT.B`Q,'!T('1I M;65S(&YE=R!R;VUA;BP@=&EM97,L('-E3L@;6%R9VEN.B`P<'0@,'!X M.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E6QV86YI82!A;F0@=&AE('!A2!S;VQD('1O(%-E84%R:RXF(S$V,#L@5&AE M(%5T86@@8V%S92!W87,-"B!R96UO=F5D('1O('1H92!5;FET960@4W1A=&5S M($1I3L@;6%R9VEN.B`P M<'0@,'!X.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E M3L@;6%R9VEN.B`P<'0@,'!X.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R M;VUA;BP@=&EM97,L('-E2XF(S$V,#L@5&AE('-U:70@87)I65E)B,X,C$W.W,@8G)E86-H(&]F(&-O;G1R86-T+"!B2!O9B`R,#$S('=H97)E8GD@37,N($AO=V5L M;"!A9W)E960@=&\@<&%Y($)A8W1E'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA&5S/&)R M/CPO6QE/3-$)W1E>'0M86QI9VXZ(&IU#L@9F]N=#H@,3!P="!T:6UE28C.#(Q M-SMS('!R;W9I&5S(&1I9F9E6EN9R!T:&4@6QE/3-$ M)VUA#L@9F]N=#H@,3!P="!T:6UE6QE/3-$)VUA#L@9F]N=#H@,3!P="!T:6UE&5S(&-O;G-I6QE/3-$)W9E'0M86QI9VXZ(&-E;G1E6QE/3-$)W!A9&1I;F6QE/3-$)W!A M9&1I;F6QE/3-$)V)O6QE/3-$)W9E6QE M/3-$)V)O'0M86QI9VXZ(')I9VAT.R!W:61T:#H@,3`E.R!C;VQO6QE/3-$)W!A9&1I;F'0M M86QI9VXZ(&QE9G0[('=I9'1H.B`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`Q)3LG/B8C,38P.SPO=&0^#0H\=&0@6QE M/3-$)W1E>'0M86QI9VXZ(&QE9G0[('=I9'1H.B`Q)3LG/CPO=&0^#0H\=&0@ M6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('=I9'1H.B`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`[/"]T9#X-"CQT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L M969T.R<^)B,Q-C`[/"]T9#X-"CQT9#XF(S$V,#L\+W1D/@T*/'1D('-T>6QE M/3-$)W1E>'0M86QI9VXZ(&QE9G0[)SXF(S$V,#L\+W1D/@T*/'1D('-T>6QE M/3-$)W1E>'0M86QI9VXZ(')I9VAT.R<^)B,Q-C`[/"]T9#X-"CQT9"!S='EL M93TS1"=T97AT+6%L:6=N.B!L969T.R<^)B,Q-C`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`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`[/"]T9#X-"CQT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L M969T.R<^)B,Q-C`[/"]T9#X-"CQT9#XF(S$V,#L\+W1D/@T*/'1D('-T>6QE M/3-$)W1E>'0M86QI9VXZ(&QE9G0[)SXF(S$V,#L\+W1D/@T*/'1D('-T>6QE M/3-$)W1E>'0M86QI9VXZ(')I9VAT.R<^)B,Q-C`[/"]T9#X-"CQT9"!S='EL M93TS1"=T97AT+6%L:6=N.B!L969T.R<^)B,Q-C`[/"]T9#X-"CPO='(^#0H\ M='(@6QE/3-$)W!A9&1I;F'0M86QI9VXZ(&QE9G0[(&-O;&]R.B!B;&%C:SLG/B0\+W1D/@T*/'1D M('-T>6QE/3-$)V)O6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('!A9&1I;F'0M86QI9VXZ(')I9VAT.R!C;VQO6QE/3-$)VUA'0M86QI9VXZ(&-E;G1E'0M86QI9VXZ(&-E;G1E M6QE/3-$)V)O M6QE/3-$)W1E>'0M86QI9VXZ(&-E;G1E6QE/3-$)W1E>'0M86QI9VXZ(&-E;G1E6QE/3-$)W1E>'0M86QI M9VXZ(&QE9G0[(&-O;&]R.B!B;&%C:SLG/D1E9F5R"!A6QE/3-$)W1E>'0M86QI M9VXZ(&QE9G0[)SXF(S$V,#L\+W1D/@T*/'1D('-T>6QE/3-$)W1E>'0M86QI M9VXZ(')I9VAT.R<^)B,Q-C`[/"]T9#X-"CQT9"!S='EL93TS1"=T97AT+6%L M:6=N.B!L969T.R<^)B,Q-C`[/"]T9#X-"CQT9#XF(S$V,#L\+W1D/@T*/'1D M('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[)SXF(S$V,#L\+W1D/@T*/'1D M('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT.R<^)B,Q-C`[/"]T9#X-"CQT M9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T.R<^)B,Q-C`[/"]T9#X-"CPO M='(^#0H\='(@6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[)SXF(S$V,#L\ M+W1D/@T*/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT.R<^)B,Q-C`[ M/"]T9#X-"CQT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T.R<^)B,Q-C`[ M/"]T9#X-"CQT9#XF(S$V,#L\+W1D/@T*/'1D('-T>6QE/3-$)W1E>'0M86QI M9VXZ(&QE9G0[)SXF(S$V,#L\+W1D/@T*/'1D('-T>6QE/3-$)W1E>'0M86QI M9VXZ(')I9VAT.R<^)B,Q-C`[/"]T9#X-"CQT9"!S='EL93TS1"=T97AT+6%L M:6=N.B!L969T.R<^)B,Q-C`[/"]T9#X-"CPO='(^#0H\='(@6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('!A9&1I M;F2!F;W(@=F%C871I;VX\+W1D/@T*/'1D('-T>6QE M/3-$)W=I9'1H.B`Q)3L@8V]L;W(Z(&)L86-K.R<^)B,Q-C`[/"]T9#X-"CQT M9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T.R!W:61T:#H@,24[(&-O;&]R M.B!B;&%C:SLG/B0\+W1D/@T*/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I M9VAT.R!W:61T:#H@,3`E.R!C;VQO6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('=I9'1H.B`Q)3L@8V]L M;W(Z(&)L86-K.R<^)B,Q-C`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`[/"]T9#X-"CQT9"!S='EL93TS1"=T M97AT+6%L:6=N.B!L969T.R<^)B,Q-C`[/"]T9#X-"CQT9#XF(S$V,#L\+W1D M/@T*/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[)SXF(S$V,#L\+W1D M/@T*/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT.R<^)B,Q-C`[/"]T M9#X-"CQT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T.R<^)B,Q-C`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`[ M/"]T9#X-"CQT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T.R<^)B,Q-C`[ M/"]T9#X-"CQT9#XF(S$V,#L\+W1D/@T*/'1D('-T>6QE/3-$)W1E>'0M86QI M9VXZ(&QE9G0[)SXF(S$V,#L\+W1D/@T*/'1D('-T>6QE/3-$)W1E>'0M86QI M9VXZ(')I9VAT.R<^)B,Q-C`[/"]T9#X-"CQT9"!S='EL93TS1"=T97AT+6%L M:6=N.B!L969T.R<^)B,Q-C`[/"]T9#X-"CPO='(^#0H\='(@6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('!A9&1I M;F6QE/3-$)W!A9&1I;F6QE/3-$)V)O6QE/3-$)V)O'0M86QI9VXZ(')I9VAT M.R!C;VQO6QE/3-$)V)A8VMG6QE/3-$)V)O6QE/3-$)W!A9&1I;F'0M M86QI9VXZ(&QE9G0[(&-O;&]R.B!B;&%C:SLG/B0\+W1D/@T*/'1D('-T>6QE M/3-$)V)O6QE M/3-$)W1E>'0M86QI9VXZ(&QE9G0[('!A9&1I;FF%T:6]N M(&]F(&1E9F5R"!A6]V97(@>65A"!A"!A2`D,BPW.#DL-C0V(&EN(#(P,3(@86YD(&1E8W)E M87-E9"!B>2`D,BPP-#$L-30S(&EN(#(P,3$N/"]P/@T*/'`@2!M87D@=71I;&EZ92!I;B!A;GD@;VYE('EE87(@ M:6YC;'5D92P@8G5T(&%R92!N;W0@;&EM:71E9"!T;RP@82!C=6UU;&%T:79E M(&]W;F5R2!D;V5S M(&YO="!B96QI979E('1H870@"!Y96%R&%M:6YA=&EO;B!B>2!T:&4@26YT97)N86P@4F5V96YU M92!397)V:6-E(&%N9"!T:&4@,C`P-R!T;R`R,#$Q('1A>"!Y96%R6QE/3-$)VUA M#L@9F]N=#H@,3!P="!T:6UE6QE/3-$)VUA#L@9F]N=#H@,3!P="!T:6UE2!I;G1E M3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R=%\Q M,S!A.&0U,E\U8V)B7S0U9C)?8C(W-U\V.#%A9C'0O:'1M;#L@8VAA65E($)E;F5F:70@ M4&QA;G,\8G(^/"]S=')O;F<^/"]T:#X-"B`@("`@("`@/'1H(&-L87-S/3-$ M=&@@8V]L'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@ M("`@/'1R(&-L87-S/3-$65E($)E;F5F:70@ M4&QA;G,@6U1E>'0@0FQO8VM=/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$ M=&5X=#X\<"!S='EL93TS1"=M87)G:6XZ(#!P="`P<'@[(&9O;G0Z(#$P<'0@ M=&EM97,@;F5W(')O;6%N+"!T:6UE#L@9F]N M=#H@,3!P="!T:6UE65E2!A;&P@9G5L;"UT M:6UE(&5M<&QO>65E2!P"!M;VYT:',@;V8@96UP;&]Y M;65N="!A;F0@;6%Y(&5N2!A M;F0@2G5L>2X\+W`^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T* M("`@(#PO=&%B;&4^#0H@(#PO8F]D>3X-"CPO:'1M;#X-"@T*+2TM+2TM/5]. M97AT4&%R=%\Q,S!A.&0U,E\U8V)B7S0U9C)?8C(W-U\V.#%A9C'0O:'1M;#L@8VAA7!E(&-O;G1E;G0],T0G=&5X="]H=&UL.R!C:&%R'0@0FQO8VM=/"]T M9#X-"B`@("`@("`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`[/"]T9#X-"CQT9"!S='EL93TS1"=T97AT+6%L M:6=N.B!L969T.R<^)B,Q-C`[/"]T9#X-"CQT9#XF(S$V,#L\+W1D/@T*/'1D M('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[)SXF(S$V,#L\+W1D/@T*/'1D M('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT.R<^)B,Q-C`[/"]T9#X-"CQT M9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T.R<^)B,Q-C`[/"]T9#X-"CPO M='(^#0H\='(@6QE/3-$)W=I9'1H M.B`W-"4[(&-O;&]R.B!B;&%C:SLG/DEN=&5R97-T/"]T9#X-"CQT9"!S='EL M93TS1"=W:61T:#H@,24[(&-O;&]R.B!B;&%C:SLG/B8C,38P.SPO=&0^#0H\ M=&0@6QE M/3-$)W1E>'0M86QI9VXZ(&QE9G0[('=I9'1H.B`Q)3L@8V]L;W(Z(&)L86-K M.R<^)#PO=&0^#0H\=&0@6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[(&-O;&]R.B!B;&%C M:SLG/DEN8V]M92!T87AE6QE/3-$ M)W1E>'0M86QI9VXZ(')I9VAT.R!C;VQO6QE/3-$)V-O;&]R.B!B;&%C:SLG/B8C,38P M.SPO=&0^#0H\=&0@6QE/3-$)V-O M;&]R.B!B;&%C:SLG/DYO;BUC87-H(&%C=&EV:71I97,Z/"]T9#X-"CQT9#XF M(S$V,#L\+W1D/@T*/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[)SXF M(S$V,#L\+W1D/@T*/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT.R<^ M)B,Q-C`[/"]T9#X-"CQT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T.R<^ M)B,Q-C`[/"]T9#X-"CQT9#XF(S$V,#L\+W1D/@T*/'1D('-T>6QE/3-$)W1E M>'0M86QI9VXZ(&QE9G0[)SXF(S$V,#L\+W1D/@T*/'1D('-T>6QE/3-$)W1E M>'0M86QI9VXZ(')I9VAT.R<^)B,Q-C`[/"]T9#X-"CQT9"!S='EL93TS1"=T M97AT+6%L:6=N.B!L969T.R<^)B,Q-C`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`@/&AE860^ M#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C;VYT96YT M/3-$)W1E>'0O:'1M;#L@8VAA'0@0FQO8VM=/"]T M9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\=&%B;&4@6QE/3-$)W1E>'0M86QI M9VXZ(&IU2!4#L@9F]N=#H@,3!P M="!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(&IU#L@9F]N=#H@,3!P="!T:6UE2!#;V]K+"!O=7(@4')E&5C=71I M=F4@3V9F:6-E2!S97)V960@87,@82!D:7)E8W1O2X@36ET8VAE;&P@1V]D9G)E M>2P@82!D:7)E8W1OF4Z(#$P<'0[)SY!1%,@86YD(%=#5%,@2!F965S+"!W:&EC:"!A2!O9B!L86)O6QE/3-$)V9O;G0M6%B;&4@8F%L86YC92!O M9B`D-#$X+#DR,B!T;R!!;65R:6-A;B!$;VYO6QE/3-$)W1E>'0M86QI9VXZ(&IU'0M:6YD96YT.B`P+C5I;CL@;6%R9VEN.B`P<'0@,'!X.R!F;VYT.B`Q M,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E28C.#(Q-SMS($-O9&4@;V8@0V]N9'5C="!T M;R!A;&QO=R!A;B!E;G1I='D@8V]N=')O;&QE9"!B>2!T=V\@;V8@=&AE($-% M3R8C.#(Q-SMS(&%D=6QT(&-H:6QD2!F2!F7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\:'1M M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA'0^/'1A8FQE('-T>6QE/3-$)VUA#L@9F]N=#H@,3!P M="!T:6UE3L@=&5X="UI;F1E;G0Z(#`N M-6EN.R!M87)G:6XZ(#!P="`P<'@[(&9O;G0Z(#$P<'0@=&EM97,@;F5W(')O M;6%N+"!T:6UE2!R97%U:7)E;65N=',N)B,Q M-C`[(%1H92!C;VYC97)N"D@;6%R:V5T:6YG(&UA=&5R:6%L2`Q,2P@,C`Q,RP@ M=V4@7-I8VEA;G,@9F]R('!E7-I8VEA;G,@=&AA="!W92!B96QI979E('=E M'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA2!O9B!3:6=N:69I M8V%N="!!8V-O=6YT:6YG(%!O;&EC:65S("A0;VQI8VEEF%T:6]N+"!#;VYS;VQI9&%T:6]N(&%N9"!0'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@ M("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$'0@0FQO8VM=/"]T9#X-"B`@("`@("`@/'1D(&-L87-S M/3-$=&5X=#X\<"!S='EL93TS1"=M87)G:6XZ(#!P="`P<'@[(&9O;G0Z(#$P M<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE3L@;6%R9VEN.B`P<'0@,'!X.R!F;VYT.B`Q M,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E6EN9R!C;VYS;VQI9&%T960@9FEN86YC:6%L('-T871E;65N=',@:6YC M;'5D92!T:&4@86-C;W5N=',@;V8@0F%C=&5R:6X@26YT97)N871I;VYA;"!( M;VQD:6YG2P@0F%C=&5R:6X@26YT97)N871I M;VYA;"P@26YC+BP@82!.979A9&$@8V]R<&]R871I;VXL("AC;VQL96-T:79E M;'DL('1H92`F(S@R,C`[0V]M<&%N>28C.#(R,3L@;W(@)B,X,C(P.T)A8W1E MF%T:6]N+"!P2P@<')O;6]T:6]N(&]F('-K=6QL(&AE86QI;F<@9F]L;&]W:6YG(&YE=7)O M2!A;F0@3L@=&5X="UI;F1E;G0Z(#`N-6EN.R!M87)G:6XZ(#!P="`P<'@[(&9O M;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE3L@;6%R9VEN M.B`P<'0@,'!X.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L M('-E3L@=&5X="UI M;F1E;G0Z(#`N-6EN.R!M87)G:6XZ(#!P="`P<'@[(&9O;G0Z(#$P<'0@=&EM M97,@;F5W(')O;6%N+"!T:6UE3L@;6%R9VEN.B`P<'0@,'!X.R!F M;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E2!M86YA9V5M96YT(&ES(&YE="!I;F-O;64@;W(@ M;&]S2!R97!O#L@9F]N=#H@,3!P="!T:6UE2=S(')E=F5N=64@ M:7,@9&5R:79E9"!P2!F2!A(&1E8VQI;F4@:6X@ M9&5M86YD(&9O2!4 M97AT($)L;V-K73PO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'`@ M6QE/3-$)VUA#L@9F]N=#H@,3!P="!T:6UE M2!497AT($)L;V-K73PO=&0^#0H@("`@ M("`@(#QT9"!C;&%S'0^/'`@3L@;6%R9VEN.B`P<'0@,'!X.R!F;VYT.B`Q,'!T('1I;65S(&YE M=R!R;VUA;BP@=&EM97,L('-E3L@;6%R9VEN.B`P<'0@ M,'!X.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-EF%T M:6]N2X@3VYE(&-U2`U M)2!A;F0@-B4@;V8@=&AE($-O;7!A;GDF(S@R,3<[2X@5&AE($-O;7!A;GD@<')O=FED97,@9F]R('5N8V]L;&5C=&EB M;&4@86UO=6YT6QE/3-$)VUA#L@9F]N M=#H@,3!P="!T:6UE6QE/3-$)W=I9'1H.B`Y,"4[(&)O6QE/3-$)V)O6QE/3-$)W9E6QE/3-$)W!A9&1I;F'0M86QI9VXZ(&-E;G1E6QE/3-$)V)O6QE/3-$ M)W!A9&1I;F6QE/3-$)V)A8VMG6QE/3-$)W=I M9'1H.B`Q)3L@8V]L;W(Z(&)L86-K.R<^)B,Q-C`[/"]T9#X\=&0@6QE/3-$)W=I9'1H.B`Q)3L@8V]L;W(Z M(&)L86-K.R<^)B,Q-C`[/"]T9#X\=&0@6QE/3-$)W!A9&1I;F6QE/3-$)V)O'0M86QI9VXZ(')I9VAT.R!C;VQO6QE/3-$ M)W!A9&1I;F6QE M/3-$)W!A9&1I;F6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('!A M9&1I;F'0M86QI9VXZ(&QE9G0[(&-O;&]R M.B!B;&%C:SLG/B0\+W1D/CQT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B M;&%C:R`R+C5P="!D;W5B;&4[('1E>'0M86QI9VXZ(')I9VAT.R!C;VQO2!;4&]L:6-Y(%1E>'0@0FQO8VM=/"]T9#X-"B`@("`@("`@/'1D M(&-L87-S/3-$=&5X=#X\<"!S='EL93TS1"=M87)G:6XZ(#!P="`P<'@[(&9O M;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(&IU#L@9F]N=#H@,3!P="!T:6UE'!E;G-E2!A;F0@97%U:7!M96YT M(&%N9"!I;G1A;F=I8FQE(&%S3L@86YD(&5S=&EM871E2!D971E'!E;G-E+B!!8W1U86P@6QE/3-$)W1E>'0M86QI9VXZ M(&IU#L@9F]N=#H@,3!P="!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(&IU'0M:6YD96YT.B`P+C5I;CL@;6%R9VEN.B`P<'0@,'!X.R!F;VYT M.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E6QE/3-$)W1E>'0M86QI9VXZ(&IU#L@9F]N=#H@,3!P="!T:6UE2!D871E(&]F('1H6QE/3-$)VUA#L@9F]N=#H@,3!P M="!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(&IU M'0M:6YD96YT.B`P+C5I;CL@;6%R9VEN.B`P<'0@,'!X.R!F M;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E6QE/3-$)W1E>'0M86QI9VXZ(&IU#L@9F]N=#H@,3!P="!T:6UEF5D+B!.;W)M86P@=&5R;7,@;VX@=')A9&4@86-C;W5N M=',@7,@86YD('-O;64@8W5S=&]M M97)S(&%R92!O9F9E2!P97)F;W)M2P@8G5T(&=E;F5R86QL>2!D M;V5S(&YO="!R97%U:7)E(&-O;&QA=&5R86P@=&\@97AT96YD(&-R961I="X\ M+W`^/'`@3L@=&5X="UI;F1E M;G0Z(#`N-6EN.R!M87)G:6XZ(#!P="`P<'@[(&9O;G0Z(#$P<'0@=&EM97,@ M;F5W(')O;6%N+"!T:6UE3L@;6%R9VEN.B`P<'0@,'!X.R!F;VYT M.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E2=S(&5X:7-T:6YG(')E8V5I=F%B M;&5S+B!4:&4@0V]M<&%N>2!D971E'!E2!I'!E;G-E+B!4:&4@0V]M<&%N M>2!D;V5S(&YO="!H879E(&%N>2!O9F8M8F%L86YC92!S:&5E="!C6%B;&4@4F5L871E9"!087)T>2!0;VQI8WD@6U!O;&EC>2!497AT M($)L;V-K73PO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'`@6QE/3-$)W1E>'0M:6YD96YT.B`P M+C5I;CL@;6%R9VEN.B`P<'0@,'!X.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R M;VUA;BP@=&EM97,L('-E3L@;6%R9VEN.B`P<'0@,'!X.R!F;VYT.B`Q M,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E2P@4&]L:6-Y(%M0;VQI8WD@5&5X="!";&]C:UT\+W1D/@T* M("`@("`@("`\=&0@8VQA6QE/3-$)VUA#L@9F]N=#H@,3!P="!T:6UE6QE/3-$)W1E M>'0M86QI9VXZ(&IU#L@9F]N=#H@,3!P M="!T:6UE&-E6-L92!I2!;4&]L:6-Y(%1E>'0@0FQO M8VM=/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<"!S='EL93TS M1"=M87)G:6XZ(#!P="`P<'@[(&9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N M+"!T:6UE2!A;F0@17%U:7!M96YT/"]B M/CPO<#X\<"!S='EL93TS1"=T97AT+6EN9&5N=#H@,"XU:6X[(&UA#L@9F]N=#H@,3!P="!T:6UE2!A;F0@97%U:7!M96YT(&%R M92!S=&%T960@870@8V]S="!L97-S(&%C8W5M=6QA=&5D(&1E<')E8VEA=&EO M;BX@1&5P6QE/3-$)W1E>'0M86QI9VXZ M(&IU#L@9F]N=#H@,3!P="!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(&IU'0M:6YD96YT M.B`P+C5I;CL@;6%R9VEN.B`P<'0@,'!X.R!F;VYT.B`Q,'!T('1I;65S(&YE M=R!R;VUA;BP@=&EM97,L('-E3L@;6%R9VEN.B`P<'0@,'!X.R!F;VYT M.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E2UT:&%N+6YO="!T:&%T(&=O;V1W:6QL(&UI9VAT(&)E(&EM<&%I M2!T;R!P97)F;W)M('1H M92!T=V\M2!C M;VYD=6-T6QE/3-$)W1E>'0M M86QI9VXZ(&IU#L@9F]N=#H@,3!P="!T M:6UE6QE/3-$)W1E>'0M86QI9VXZ(&IU M'0M:6YD96YT.B`P+C5I;CL@;6%R9VEN.B`P<'0@,'!X.R!F M;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E6QE/3-$)W1E>'0M86QI9VXZ(&IU#L@9F]N=#H@,3!P="!T:6UE6EN9R!C;VYS;VQI9&%T960@9FEN86YC:6%L('-T M871E;65N=',@2!H87,@;F]T(&1E2!I MF5D(&EN('1H92!S=&%T96UE;G0@;V8@;W!E2!;4&]L:6-Y(%1E>'0@0FQO8VM= M/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<"!S='EL93TS1"=T M97AT+6%L:6=N.B!J=7-T:69Y.R!M87)G:6XZ(#!P="`P<'@[(&9O;G0Z(#$P M<'0@=&EM97,@;F5W(')O;6%N+"!T:6UEF5D(&]V97(@=&AE:7(@6EN9R!A;6]U;G0@ M;6%Y(&YO="!B92!R96-O=F5R86)L92X@26YT86YG:6)L92!A65A2!;4&]L:6-Y(%1E>'0@0FQO8VM=/"]T9#X-"B`@ M("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<"!S='EL93TS1"=M87)G:6XZ(#!P M="`P<'@[(&9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE#L@9F]N=#H@ M,3!P="!T:6UE2!H87,@96YT97)E9"!I;G1O(&$@;&5G86QL M>2!B:6YD:6YG(&%G#L@9F]N=#H@,3!P="!T:6UE28C.#(Q-SMS M('!O;&EC>2!I&5S+B8C,38P.R8C,38P M.TEF(&%N(&%RF5D('=H96X@86-C97!T86YC92!I'!I#L@9F]N=#H@,3!P="!T:6UE2!S:&EP2!T:&4@0V]M<&%N>28C.#(Q-SMS('!R;V1U8W0@:7,@F5D('=H96X@86)O=F4@8W)I M=&5R:6$@:&%S(&)E96X@;65T+CPO<#X\<"!S='EL93TS1"=T97AT+6%L:6=N M.B!J=7-T:69Y.R!T97AT+6EN9&5N=#H@,"XU:6X[(&UA#L@9F]N=#H@,3!P="!T:6UE2!A;'-O(')E8V5I=F5S(')O>6%L M='D@6%L='D@86=R M965M96YT4UE9"!A;F0@0F%R9"!!8V-E'0@0FQO8VM=/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X M=#X\<"!S='EL93TS1"=T97AT+6%L:6=N.B!J=7-T:69Y.R!M87)G:6XZ(#!P M="`P<'@[(&9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(&IU'0M:6YD96YT.B`P M+C5I;CL@;6%R9VEN.B`P<'0@,'!X.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R M;VUA;BP@=&EM97,L('-E2X@5&AE2!O=F5R('1H92!V97-T:6YG('!E6QE/3-$)W1E>'0M86QI M9VXZ(&IU#L@9F]N=#H@,3!P="!T:6UE M#L@9F]N=#H@,3!P M="!T:6UE2!E>'!E;G-E'!E;G-E+"!0 M;VQI8WD@6U!O;&EC>2!497AT($)L;V-K73PO=&0^#0H@("`@("`@(#QT9"!C M;&%S'0^/'`@#L@9F]N=#H@,3!P="!T M:6UE2!R96QA=&5D('1O(&EN=&5R;F%L(&-O"P@4&]L:6-Y(%M0;VQI8WD@5&5X="!";&]C M:UT\+W1D/@T*("`@("`@("`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`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<"!S='EL93TS1"=M87)G M:6XZ(#!P="`P<'@[(&9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE M&5R8VES92!O9B!S=&]C:R!O<'1I;VYS(&%N9"!W87)R86YT6QE/3-$)VUA#L@9F]N=#H@,3!P="!T M:6UE3L@;6%R9VEN.B`P<'0@,'!X.R!F;VYT.B`Q M,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-EF5D(&)A7!O=&AE=&EC86P@<&]O M;"!O9B!A9&1I=&EO;F%L('!A:60M:6X@8V%P:71A;"!T:&%T(&ES(&%V86EL M86)L92!T;R!A8G-O"!B96YE9FET('-H;W)T9F%L;',N M/"]F;VYT/CPO<#X\<"!S='EL93TS1"=T97AT+6%L:6=N.B!J=7-T:69Y.R!T M97AT+6EN9&5N=#H@,"XU:6X[(&UA#L@9F]N=#H@,3!P M="!T:6UE2!497AT($)L;V-K73PO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'`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`P+C5I;CL@;6%R9VEN.B`P M<'0@,'!X.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E M#L@9F]N=#H@,3!P="!T:6UE M6QE/3-$)W1E>'0M:6YD96YT.B`P+C5I;CL@;6%R9VEN.B`P<'0@,'!X(#!P M="`M,"XU:6X[(&9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE6QE/3-$)W1E>'0M:6YD96YT.B`P+C5I;CL@;6%R9VEN.B`P<'0@,'!X.R!F M;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E6QE/3-$)W=I9'1H M.B`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`Q)3L@ M8V]L;W(Z(&)L86-K.R<^)B,Q-C`[/"]T9#X-"CQT9"!S='EL93TS1"=T97AT M+6%L:6=N.B!L969T.R!W:61T:#H@,24[(&-O;&]R.B!B;&%C:SLG/B0\+W1D M/@T*/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT.R!W:61T:#H@,3`E M.R!C;VQO6QE/3-$)W1E>'0M:6YD96YT M.B`P+C5I;CL@;6%R9VEN.B`P<'0@,'!X.R!F;VYT.B`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`W-"4[(&-O;&]R.B!B;&%C:SLG/DQE=F5L(#,\+W1D/@T*/'1D M('-T>6QE/3-$)W=I9'1H.B`Q)3L@8V]L;W(Z(&)L86-K.R<^)B,Q-C`[/"]T M9#X-"CQT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T.R!W:61T:#H@,24[ M(&-O;&]R.B!B;&%C:SLG/B0\+W1D/@T*/'1D('-T>6QE/3-$)W1E>'0M86QI M9VXZ(')I9VAT.R!W:61T:#H@,3`E.R!C;VQO6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('=I9'1H.B`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`Q)3L@8V]L;W(Z(&)L M86-K.R<^)B,Q-C`[/"]T9#X-"CQT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R M:6=H=#L@=VED=&@Z(#$P)3L@8V]L;W(Z(&)L86-K.R<^-#4P+#$V-CPO=&0^ M#0H\=&0@#L@9F]N=#H@,3!P="!T:6UE6QE/3-$)VUA#L@9F]N M=#H@,3!P="!T:6UE2!A;F0@8V]N=&EN9V5N="!C;VYS M:61E6QE/3-$)VUA#L@9F]N=#H@ M,3!P="!T:6UE6QE/3-$)VUA#L@9F]N=#H@,3!P="!T M:6UE6QE/3-$)W1E>'0M:6YD96YT.B`P+C5I;CL@;6%R9VEN M.B`P<'0@,'!X.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L M('-E6QE/3-$)VUA#L@9F]N=#H@,3!P M="!T:6UE6QE/3-$)W=I9'1H.B`W,"4[ M(&)O6QE/3-$)V)A8VMG6QE/3-$)W1E>'0M M86QI9VXZ(&QE9G0[('=I9'1H.B`Q)3L@8V]L;W(Z(&)L86-K.R<^)#PO=&0^ M#0H\=&0@6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('!A9&1I;F'0M86QI9VXZ(&QE9G0[(&-O;&]R M.B!B;&%C:SLG/B8C,38P.SPO=&0^#0H\=&0@6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[(&-O M;&]R.B!B;&%C:SLG/B0\+W1D/@T*/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ M(')I9VAT.R!C;VQO#L@9F]N=#H@,3!P="!T:6UE6QE/3-$)W=I9'1H.B`X,"4[(&-O;&]R.B!B;&%C:SLG/D)A;&%N8V4@ M870@2F%N=6%R>2`Q+"`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`[($%C8V]R9&EN9VQY+"!T:&5S92!I;G!U=',@87)E(&-L M87-S:69I960@87,@3&5V96P@,R!I;G!U=',N/"]P/CQS<&%N/CPO'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA2!O9B!3:6=N:69I8V%N="!!8V-O=6YT:6YG(%!O M;&EC:65S("A486)L97,I/&)R/CPO6QE/3-$)VUA M#L@9F]N=#H@,3!P="!T:6UE#L@9F]N=#H@,3!P="!T:6UE6QE/3-$)V9O;G0M6QE/3-$)W!A9&1I;F'0M86QI9VXZ(&-E;G1EF4Z M(#$P<'0[)SXF(S$V,#L\+W1D/CQT9"!S='EL93TS1"=P861D:6YG+6)O='1O M;3H@,7!T.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E M'0M86QI9VXZ(&-E M;G1E6QE/3-$)W!A9&1I;F6QE/3-$)W!A9&1I;F6QE/3-$)V)O6QE/3-$)W1E>'0M86QI9VXZ(&QE M9G0[('=I9'1H.B`W,B4[(&9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T M:6UE6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('=I9'1H.B`Q)3L@ M9F]N=#H@,3!P="!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(')I M9VAT.R!W:61T:#H@,3`E.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@ M=&EM97,L('-E6QE/3-$)W1E>'0M86QI9VXZ M(&QE9G0[('=I9'1H.B`Q)3L@9F]N=#H@,3!P="!T:6UE6QE M/3-$)W1E>'0M86QI9VXZ(')I9VAT.R!W:61T:#H@,3`E.R!F;VYT.B`Q,'!T M('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E6QE/3-$)V)A8VMG6QE/3-$)W!A9&1I;F'0M86QI9VXZ(&QE9G0[(&9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N M+"!T:6UE6QE/3-$)V)O6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('!A9&1I;F6QE/3-$)W!A9&1I M;F6QE/3-$)V)O6QE/3-$ M)W1E>'0M86QI9VXZ(&QE9G0[('!A9&1I;F6QE/3-$)W!A9&1I;F6QE/3-$)W1E M>'0M86QI9VXZ(&QE9G0[('!A9&1I;F'0M86QI9VXZ M(&QE9G0[(&9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE'0M86QI9VXZ(')I9VAT M.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E'0^/'`@#L@9F]N=#H@,3!P M="!T:6UE6QE/3-$)W1E>'0M:6YD96YT.B`P+C5I;CL@;6%R9VEN.B`P<'0@ M,'!X(#!P="`M,"XU:6X[(&9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T M:6UE6QE/3-$)W1E>'0M:6YD96YT.B`P+C5I;CL@;6%R9VEN.B`P<'0@ M,'!X.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E6QE/3-$ M)W=I9'1H.B`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`Q)3L@8V]L;W(Z(&)L86-K.R<^)B,Q-C`[/"]T9#X-"CQT9"!S='EL93TS M1"=T97AT+6%L:6=N.B!L969T.R!W:61T:#H@,24[(&-O;&]R.B!B;&%C:SLG M/B0\+W1D/@T*/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT.R!W:61T M:#H@,3`E.R!C;VQO'0^/'`@#L@9F]N=#H@,3!P="!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(&-E;G1E6QE/3-$)W1E>'0M86QI9VXZ(&-E;G1E6QE/3-$)V9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[(&9O M;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE6QE M/3-$)V9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE6QE/3-$)W1E>'0M M86QI9VXZ(&QE9G0[(&9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE M6QE M/3-$)W1E>'0M86QI9VXZ(')I9VAT.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R M;VUA;BP@=&EM97,L('-E6QE/3-$)V)A8VMG6QE/3-$)W=I9'1H.B`R)3L@9F]N=#H@,3!P="!T:6UE6QE/3-$)W=I9'1H.B`R)3L@9F]N M=#H@,3!P="!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[ M('=I9'1H.B`Q)3L@9F]N=#H@,3!P="!T:6UE'0^/'`@3PO<#X\ M<"!S='EL93TS1"=T97AT+6EN9&5N=#H@,"XU:6X[(&UA#L@9F]N=#H@,3!P="!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(&-E;G1E6QE/3-$)W1E>'0M86QI9VXZ(&-E;G1E6QE/3-$)V9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[(&9O M;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE6QE M/3-$)V9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE6QE/3-$)W1E>'0M M86QI9VXZ(&QE9G0[(&9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE M6QE M/3-$)W1E>'0M86QI9VXZ(')I9VAT.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R M;VUA;BP@=&EM97,L('-E6QE/3-$)V)A8VMG6QE/3-$)W=I9'1H.B`R)3L@9F]N=#H@,3!P="!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('=I9'1H.B`Q)3L@9F]N=#H@ M,3!P="!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT.R!W:61T:#H@,3`E.R!F;VYT.B`Q M,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E'0^/'`@6QE M/3-$)W1E>'0M:6YD96YT.B`P+C5I;CL@;6%R9VEN.B`P<'0@,'!X.R!F;VYT M.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E6QE/3-$)VUA#L@9F]N=#H@,3!P="!T M:6UE6QE/3-$)V)A8VMG6QE/3-$)W1E>'0M86QI M9VXZ(&QE9G0[('=I9'1H.B`Q)3L@9F]N=#H@,3!P="!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT.R!W:61T:#H@,3`E.R!F;VYT.B`Q M,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-EF5D(&EN(&5A6QE/3-$)V9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE M#L@ M9F]N=#H@,3!P="!T:6UE6QE/3-$)W=I9'1H.B`X-B4[(&9O M;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE2`Q+"`R,#$R/"]T9#X\=&0@ M6QE M/3-$)W1E>'0M86QI9VXZ(&QE9G0[('=I9'1H.B`Q)3L@9F]N=#H@,3!P="!T M:6UE'0M86QI9VXZ(&QE9G0[(&9O;G0Z(#$P<'0@=&EM97,@;F5W M(')O;6%N+"!T:6UE6QE/3-$)V)O6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT M.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E'1087)T7S$S M,&$X9#4R7S5C8F)?-#5F,E]B,C'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA6QE/3-$ M)W1E>'0M86QI9VXZ(&IU#L@9F]N=#H@ M,3!P="!T:6UE6QE/3-$)W1E>'0M:6YD96YT.B`P+C5I;CL@;6%R9VEN.B`P<'0@,'!X.R!F M;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E6QE/3-$)V)A8VMG6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('=I9'1H.B`Q M)3L@9F]N=#H@,3!P="!T:6UE6QE/3-$)V)A8VMG6QE/3-$)W1E>'0M86QI M9VXZ(&QE9G0[(&9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE'0M86QI M9VXZ(&QE9G0[(&9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE6QE/3-$ M)V)O6QE/3-$)V)A8VMG6QE/3-$)W1E>'0M86QI9VXZ M(&QE9G0[(&9O;G0M6QE/3-$)W1E>'0M M86QI9VXZ(&QE9G0[(&9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE M'0^/'`@6QE/3-$)W1E>'0M M:6YD96YT.B`P+C5I;CL@;6%R9VEN.B`P<'0@,'!X.R!F;VYT.B`Q,'!T('1I M;65S(&YE=R!R;VUA;BP@=&EM97,L('-E6QE M/3-$)V)A8VMG6QE/3-$)V)A8VMG6QE/3-$ M)W1E>'0M86QI9VXZ(&QE9G0[('!A9&1I;F6QE M/3-$)W!A9&1I;F6QE/3-$)V)O6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('!A9&1I;F6QE/3-$)W1E>'0M86QI M9VXZ(')I9VAT.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L M('-E'!E;G-E(%M486)L92!4 M97AT($)L;V-K73PO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'`@ M65A2!R97-U;'1I;F<@:6X@=&AE M(&9O;&QO=VEN9R!A;6]R=&EZ871I;VX@6QE M/3-$)W1E>'0M:6YD96YT.B`P+C5I;CL@;6%R9VEN.B`P<'0@,'!X.R!F;VYT M.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E6QE/3-$)V9O;G0Z M(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE6QE/3-$)V)A8VMG6QE/3-$)V9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE M6QE/3-$)V9O;G0Z(#$P<'0@=&EM97,@ M;F5W(')O;6%N+"!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT.R<^/&9O M;G0@6QE/3-$)W1E>'0M86QI M9VXZ(')I9VAT.R<^/&9O;G0@6QE/3-$)V)O6QE/3-$)V9O;G0Z(#$P<'0@=&EM97,@ M;F5W(')O;6%N+"!T:6UE6QE/3-$ M)V9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE7!E M.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@ M/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C M;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA2!;5&%B;&4@5&5X="!";&]C:UT\+W1D/@T*("`@("`@("`\=&0@ M8VQA6QE/3-$)VUA#L@9F]N M=#H@,3!P="!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(&-E;G1E6QE/3-$)W=I9'1H.B`W,B4[)R!N;W=R M87`],T1N;W=R87`^/"]T9#X-"CQT9"!S='EL93TS1"=W:61T:#H@,24[)R!N M;W=R87`],T1N;W=R87`^)B,Q-C`[/"]T9#X-"CQT9"!S='EL93TS1"=B;W)D M97(M8F]T=&]M.B!B;&%C:R`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`[/"]T9#X-"CQT9#XF(S$V,#L\+W1D/@T*/'1D/B8C,38P.SPO=&0^#0H\ M=&0^)B,Q-C`[/"]T9#X-"CQT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H M=#LG/B8C,38P.SPO=&0^#0H\=&0^)B,Q-C`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`@("`\=&%B;&4@8VQA2!A;F0@ M97%U:7!M96YT+"!N970@87)E(&%S(&9O;&QO=W,Z/"]P/CQP('-T>6QE/3-$ M)W1E>'0M:6YD96YT.B`P+C5I;CL@;6%R9VEN.B`P<'0@,'!X.R!F;VYT.B`Q M,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E6QE/3-$)W9E6QE/3-$)W9E'0M86QI M9VXZ(&-E;G1E6QE/3-$)W!A9&1I;F6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('=I9'1H.B`Q)3L@9F]N M=#H@,3!P="!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT M.R!W:61T:#H@,3`E.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM M97,L('-E6QE/3-$)W=I9'1H.B`R)3L@9F]N=#H@ M,3!P="!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('=I M9'1H.B`Q)3L@9F]N=#H@,3!P="!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[(&9O;G0Z(#$P<'0@=&EM97,@;F5W M(')O;6%N+"!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[ M(&9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE6QE/3-$)V9O;G0Z(#$P M<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[ M(&9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE6QE/3-$)W1E>'0M86QI M9VXZ(')I9VAT.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L M('-E6QE/3-$)V9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE6QE/3-$ M)W1E>'0M86QI9VXZ(&QE9G0[(&9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N M+"!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT.R!F;VYT.B`Q,'!T('1I;65S M(&YE=R!R;VUA;BP@=&EM97,L('-E6QE/3-$)V)A8VMG3L@9F]N=#H@,3!P="!T:6UE6QE/3-$)V9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE M6QE M/3-$)W1E>'0M86QI9VXZ(&QE9G0[(&9O;G0Z(#$P<'0@=&EM97,@;F5W(')O M;6%N+"!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT.R!F;VYT.B`Q,'!T('1I M;65S(&YE=R!R;VUA;BP@=&EM97,L('-E6QE/3-$)V)A8VMG6QE/3-$)W1E>'0M86QI9VXZ(&IU M6QE M/3-$)W1E>'0M86QI9VXZ(&QE9G0[(&9O;G0Z(#$P<'0@=&EM97,-"B!N976QE/3-$)W!A9&1I M;F6QE/3-$)V)O'0M86QI9VXZ(')I9VAT.R!F M;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E6QE/3-$)V)A8VMG6QE/3-$)W1E M>'0M86QI9VXZ(&IU6QE M/3-$)W1E>'0M86QI9VXZ(&QE9G0[(&9O;G0Z(#$P<'0@=&EM97,@;F5W(')O M;6%N+"!T:6UE'0M86QI9VXZ(&QE9G0[(&9O;G0Z(#$P<'0@=&EM97,@;F5W(')O M;6%N+"!T:6UE6QE/3-$)V)O'0M86QI9VXZ M(')I9VAT.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E M3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R=%\Q,S!A.&0U,E\U M8V)B7S0U9C)?8C(W-U\V.#%A9C'0O:'1M;#L@8VAA6QE/3-$)W1E>'0M:6YD96YT.B`P+C5I;CL@;6%R9VEN.B`P<'0@ M,'!X.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E6QE/3-$)W=I9'1H.B`Y-24[(&)O M6QE/3-$)W9E#L@9F]N=#H@,3!P="!T:6UE#L@9F]N=#H@,3!P="!T:6UE6QE/3-$)V9O;G0Z(#$P M<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE3PO9F]N=#X\+W1D/@T*/'1D/B8C M,38P.SPO=&0^#0H\=&0@6QE/3-$)W!A9&1I;F6QE/3-$)V)A8VMG6QE/3-$)V9O;G0Z(#$P<'0@=&EM97,@;F5W M(')O;6%N+"!T:6UE6QE/3-$)W=I M9'1H.B`Q)3LG/CQF;VYT('-T>6QE/3-$)V9O;G0Z(#$P<'0@=&EM97,@;F5W M(')O;6%N+"!T:6UE6QE/3-$)V9O;G0Z(#$P<'0@=&EM97,@;F5W(')O M;6%N+"!T:6UEF%T:6]N/"]F M;VYT/CPO=&0^#0H\=&0^)B,Q-C`[/"]T9#X-"CQT9"!S='EL93TS1"=B;W)D M97(M8F]T=&]M.B!B;&%C:R`Q<'0@6QE/3-$)V9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T M:6UE6QE/3-$)V)O6QE/3-$)V9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N M+"!T:6UE6QE/3-$)V)O'0M86QI9VXZ(')I9VAT.R<^/&9O;G0@6QE/3-$)V9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T M:6UE6QE/3-$)W1E>'0M86QI9VXZ(')I M9VAT.R<^)B,Q-C`[/"]T9#X-"CQT9#XF(S$V,#L\+W1D/@T*/"]T6QE/3-$)V9O;G0Z(#$P M<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE6QE/3-$)V9O;G0Z M(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE6QE/3-$)V9O;G0Z(#$P<'0@=&EM97,@;F5W M(')O;6%N+"!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT.R<^)B,Q-C`[ M/"]T9#X-"CQT9#XF(S$V,#L\+W1D/@T*/"]T6QE/3-$)V9O;G0Z(#$P<'0@=&EM97,@;F5W M(')O;6%N+"!T:6UE6QE/3-$ M)W1E>'0M86QI9VXZ(')I9VAT.R<^)B,Q-C`[/"]T9#X-"CQT9#XF(S$V,#L\ M+W1D/@T*/"]T6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT.R<^)B,Q-C`[/"]T M9#X-"CQT9#XF(S$V,#L\+W1D/@T*/"]T6QE/3-$)V9O;G0Z(#$P<'0@=&EM97,@;F5W(')O M;6%N+"!T:6UE6QE/3-$)V9O;G0Z(#$P<'0@=&EM97,@;F5W M(')O;6%N+"!T:6UE6QE/3-$)V9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE6QE/3-$)V)A8VMG6QE/3-$)V9O M;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE6QE/3-$)V9O;G0Z(#$P<'0@=&EM97,@ M;F5W(')O;6%N+"!T:6UE6QE/3-$)V)A8VMG6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT.R<^)B,Q M-C`[/"]T9#X-"CQT9#XF(S$V,#L\+W1D/@T*/'1D/B8C,38P.SPO=&0^#0H\ M=&0^/&9O;G0@6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT.R<^/&9O;G0@6QE/3-$)W1E>'0M M86QI9VXZ(')I9VAT.R<^)B,Q-C`[/"]T9#X-"CQT9#XF(S$V,#L\+W1D/@T* M/'1D/B8C,38P.SPO=&0^#0H\=&0^/&9O;G0@6QE/3-$)W1E>'0M86QI9VXZ(')I M9VAT.R<^/&9O;G0@6QE/3-$)V9O;G0Z(#$P<'0@=&EM97,@ M;F5W(')O;6%N+"!T:6UE6QE/3-$)V9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N M+"!T:6UE6QE/3-$)V9O;G0Z(#$P<'0@=&EM M97,@;F5W(')O;6%N+"!T:6UE6QE/3-$)V9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T M:6UE3X-"CPO M:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R=%\Q,S!A.&0U,E\U8V)B7S0U9C)? M8C(W-U\V.#%A9C'0O:'1M;#L@ M8VAA6QE/3-$)VUA#L@9F]N=#H@,3!P="!T:6UE6QE/3-$)W1E>'0M:6YD96YT.B`P+C5I;CL@;6%R9VEN M.B`P<'0@,'!X.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L M('-E6QE/3-$)W=I9'1H.B`Q M,#`E.R!B;W)D97(M8V]L;&%P6QE/3-$)W1E>'0M86QI9VXZ(&-E;G1E6QE/3-$)V)O6QE/3-$)W!A9&1I;F6QE/3-$)W!A9&1I;F6QE/3-$)V)A8VMG3PO M=&0^#0H\=&0@6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('=I9'1H M.B`Q)3L@9F]N=#H@,3!P="!T:6UE6QE/3-$)W=I9'1H M.B`R)3L@9F]N=#H@,3!P="!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT.R!W:61T:#H@,3`E M.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E6QE/3-$)V)A8VMG6QE/3-$)V9O;G0Z(#$P<'0@=&EM M97,@;F5W(')O;6%N+"!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[(&9O;G0Z(#$P<'0@=&EM97,@;F5W M(')O;6%N+"!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(&QE M9G0[(&9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE6QE M/3-$)V)A8VMG6QE/3-$)W1E>'0M86QI9VXZ(&QE M9G0[(&9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[(&9O;G0Z(#$P<'0@ M=&EM97,@;F5W(')O;6%N+"!T:6UE6QE/3-$)V)O'0M86QI M9VXZ(')I9VAT.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L M('-E6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('!A9&1I;F'0M M86QI9VXZ(&QE9G0[(&9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE M6QE/3-$)V)O6QE/3-$)W!A9&1I M;F'0M86QI9VXZ M(')I9VAT.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E M6QE M/3-$)W1E>'0M86QI9VXZ(&QE9G0[('!A9&1I;F6QE/3-$ M)W1E>'0M:6YD96YT.B`P+C5I;CL@;6%R9VEN.B`P<'0@,'!X.R!F;VYT.B`Q M,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X- M"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP M92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA'0^/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$'0^/'`@6QE/3-$)W=I9'1H.B`Q,#`E.R!B;W)D97(M8V]L;&%P M6QE/3-$)W!A9&1I;F6QE/3-$)W!A9&1I M;F6QE/3-$)V)A M8VMG6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('=I M9'1H.B`Q)3L@9F]N=#H@,3!P="!T:6UE6QE/3-$)W1E>'0M M86QI9VXZ(')I9VAT.R!W:61T:#H@,3`E.R!F;VYT.B`Q,'!T('1I;65S(&YE M=R!R;VUA;BP@=&EM97,L('-E6QE/3-$)W1E M>'0M86QI9VXZ(&QE9G0[('=I9'1H.B`Q)3L@9F]N=#H@,3!P="!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT.R!W:61T:#H@,3`E.R!F M;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E6QE/3-$)V)A8VMG6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[ M(&9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[(&9O;G0Z(#$P<'0@=&EM97,@;F5W M(')O;6%N+"!T:6UE6QE/3-$)V9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T M:6UE6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[(&9O;G0Z(#$P<'0@=&EM97,@;F5W M(')O;6%N+"!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT.R!F;VYT.B`Q,'!T M('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E6QE/3-$)V)A M8VMG6QE/3-$)V9O;G0Z(#$P<'0@ M=&EM97,@;F5W(')O;6%N+"!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[(&9O M;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE6QE/3-$)W1E>'0M86QI9VXZ M(')I9VAT.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E M6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[(&9O;G0Z(#$P<'0@ M=&EM97,@;F5W(')O;6%N+"!T:6UE2!"86YK(&]F M($)E;&=R861E+"`D,3`L-S0V(&UO;G1H;'D@<&%Y;65N=',@:6YC;'5D:6YG M(&EN=&5R97-T+"!M871U2!B=6EL9&EN9SPO=&0^/'1D('-T>6QE/3-$)W!A9&1I;F6QE/3-$)V)O M'0M86QI9VXZ(')I9VAT.R!F;VYT.B`Q M,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E6QE/3-$)V)A8VMG6QE/3-$)W1E>'0M M86QI9VXZ(&QE9G0[(&9O;G0M6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[(&9O;G0Z(#$P<'0@=&EM97,@;F5W M(')O;6%N+"!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT.R!F;VYT.B`Q,'!T M('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E6QE/3-$)V9O;G0Z(#$P<'0@=&EM M97,@;F5W(')O;6%N+"!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[(&9O;G0Z M(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(')I M9VAT.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E6QE/3-$)V)O6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[ M('!A9&1I;F'0M86QI9VXZ(&QE9G0[(&9O;G0Z(#$P<'0@=&EM97,@;F5W M(')O;6%N+"!T:6UE6QE/3-$)V)O6QE/3-$)W!A9&1I M;F6QE/3-$)V)O6QE/3-$)V)O M'0M86QI9VXZ(&QE9G0[ M(&9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE'0M86QI9VXZ(')I9VAT.R!F;VYT.B`Q M,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E'0@0FQO8VM=/"]T9#X-"B`@("`@ M("`@/'1D(&-L87-S/3-$=&5X=#X\<"!S='EL93TS1"=M87)G:6XZ(#!P="`P M<'@[(&9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE2!O9B!M871U#L@9F]N=#H@,3!P="!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(&QE M9G0[('=I9'1H.B`Q)3L@8V]L;W(Z(&)L86-K.R<^)B,Q-C`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`@("`@(#QT9"!C;&%S'0^/'`@6UE;G1S(&%S(&]F($1E8V5M8F5R(#,Q+"`R,#$R.CPO<#X-"CQP('-T>6QE M/3-$)VUA#L@9F]N=#H@,3!P="!T:6UEF4Z(#$P<'0[)SXF(S$V,#L\+W1D/@T*/'1D M('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('=I9'1H.B`Q)3L@9F]N="US M:7IE.B`Q,'!T.R<^)B,Q-C`[/"]T9#X-"CQT9"!S='EL93TS1"=T97AT+6%L M:6=N.B!R:6=H=#L@=VED=&@Z(#$P)3L@9F]N="US:7IE.B`Q,'!T.R<^-S@X M+#`P,#PO=&0^#0H\=&0@F4Z(#$P<'0[)SXF(S$V,#L\+W1D/@T*/"]T6QE/3-$)W1E>'0M86QI9VXZ M(&QE9G0[(&9O;G0M6QE M/3-$)V9O;G0M6QE/3-$)W1E>'0M M86QI9VXZ(&QE9G0[(&9O;G0M6QE/3-$)V9O;G0M6QE/3-$ M)W1E>'0M86QI9VXZ(&QE9G0[(&9O;G0M6QE/3-$)V9O;G0M6QE/3-$)W1E>'0M M86QI9VXZ(')I9VAT.R!F;VYT+7-I>F4Z(#$P<'0[)SXQ+#,X-"PP,#`\+W1D M/@T*/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[(&9O;G0M6QE/3-$)V)A8VMG M'0M86QI9VXZ(&QE9G0[(&9O;G0MF4Z(#$P<'0[)SXF(S$V,#L\+W1D/@T*/"]T6QE/3-$)V9O;G0M6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[(&9O M;G0M6QE/3-$)VUA#L@9F]N=#H@,3!P="!T:6UE M'0O:F%V87-C3X- M"B`@("`\=&%B;&4@8VQA2!;5&%B;&4@5&5X="!";&]C:UT\+W1D/@T*("`@("`@("`\=&0@ M8VQA6QE/3-$)VUA#L@9F]N M=#H@,3!P="!T:6UE6QE/3-$)W!A9&1I;F6QE M/3-$)V)O6QE/3-$)W!A9&1I;F6QE/3-$)W!A9&1I;F6QE/3-$)V)O6QE/3-$)W!A9&1I;F6QE/3-$)W!A9&1I;F6QE/3-$)V)O&5R8VES928C,38P.U!R:6-E/"]T9#X-"CQT9"!S='EL93TS1"=P861D M:6YG+6)O='1O;3H@,7!T.R!C;VQO'0M86QI9VXZ(&-E;G1E'0M86QI9VXZ M(&-E;G1E6QE/3-$)W!A9&1I;F6QE/3-$)W!A9&1I;F6QE/3-$)V)O6QE/3-$)W!A9&1I;F6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT.R!W:61T:#H@,3`E.R!C;VQO6QE/3-$)W1E>'0M86QI M9VXZ(&QE9G0[('=I9'1H.B`Q)3L@8V]L;W(Z(&)L86-K.R<^)B,Q-C`[/"]T M9#X-"CQT9"!S='EL93TS1"=W:61T:#H@,24[(&-O;&]R.B!B;&%C:SLG/B8C M,38P.SPO=&0^#0H\=&0@6QE M/3-$)W=I9'1H.B`Q)3L@8V]L;W(Z(&)L86-K.R<^)B,Q-C`[/"]T9#X-"CQT M9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T.R!W:61T:#H@,24[(&-O;&]R M.B!B;&%C:SLG/B0\+W1D/@T*/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I M9VAT.R!W:61T:#H@,3`E.R!C;VQO6QE/3-$)W1E M>'0M86QI9VXZ(&QE9G0[('=I9'1H.B`Q)3L@8V]L;W(Z(&)L86-K.R<^)B,Q M-C`[/"]T9#X-"CQT9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H=#L@=VED M=&@Z(#$P)3L@8V]L;W(Z(&)L86-K.R<^,RPX-3`L-S0S/"]T9#X-"CQT9"!S M='EL93TS1"=T97AT+6%L:6=N.B!L969T.R!W:61T:#H@,24[(&-O;&]R.B!B M;&%C:SLG/B8C,38P.SPO=&0^#0H\=&0@6QE/3-$)W1E>'0M M86QI9VXZ(&QE9G0[('=I9'1H.B`Q)3L@8V]L;W(Z(&)L86-K.R<^)#PO=&0^ M#0H\=&0@6QE/3-$)W1E>'0M M86QI9VXZ(&QE9G0[('=I9'1H.B`Q)3L@8V]L;W(Z(&)L86-K.R<^)B,Q-C`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`P<'0@,'!X.R!F;VYT.B`Q,'!T('1I;65S(&YE M=R!R;VUA;BP@=&EM97,L('-E'0^/'`@3L@;6%R9VEN.B`P<'0@,'!X.R!F;VYT.B`Q,'!T('1I M;65S(&YE=R!R;VUA;BP@=&EM97,L('-EF5S(')E#L@9F]N=#H@,3!P="!T:6UE6QE/3-$)V9O;G0M6QE/3-$)V9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE M6QE M/3-$)W1E>'0M86QI9VXZ(&-E;G1E6QE/3-$)W1E M>'0M86QI9VXZ(&QE9G0[('=I9'1H.B`X-B4[(&9O;G0Z(#$P<'0@=&EM97,@ M;F5W(')O;6%N+"!T:6UE6QE/3-$)W=I9'1H M.B`R)3L@9F]N=#H@,3!P="!T:6UE6QE/3-$)V9O;G0Z M(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE6QE/3-$)W1E M>'0M86QI9VXZ(&QE9G0[(&9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T M:6UE'0M86QI9VXZ(&QE M9G0[(&9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE6QE/3-$)V)O6QE/3-$)V9O;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T M:6UE6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[(&9O;G0Z(#$P<'0@=&EM97,@;F5W M(')O;6%N+"!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT.R!F;VYT.B`Q,'!T M('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R=%\Q,S!A.&0U,E\U8V)B M7S0U9C)?8C(W-U\V.#%A9C'0O M:'1M;#L@8VAA2!4'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@ M("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$'0^/'`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`Q+"`R,#$R/"]T9#X- M"CQT9"!S='EL93TS1"=W:61T:#H@,24[(&-O;&]R.B!B;&%C:SLG/B8C,38P M.SPO=&0^#0H\=&0@6QE/3-$ M)W1E>'0M86QI9VXZ(')I9VAT.R!W:61T:#H@,3`E.R!C;VQO6QE/3-$)W1E>'0M86QI9VXZ(&QE M9G0[('=I9'1H.B`Q)3L@8V]L;W(Z(&)L86-K.R<^)B,Q-C`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`W,"4[(&)O'0M86QI9VXZ(&-E;G1E6QE/3-$)W!A9&1I;F6QE M/3-$)W9E6QE/3-$)W!A9&1I;F'0M86QI9VXZ(&-E;G1E6QE/3-$)V)O6QE/3-$)W!A9&1I M;F6QE/3-$)V)A8VMG6EN9R!C;VUM;VX@6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('=I9'1H.B`Q)3L@8V]L;W(Z M(&)L86-K.R<@;F]W6QE/3-$)V)A8VMG6QE/3-$)W1E>'0M86QI M9VXZ(&QE9G0[(&-O;&]R.B!B;&%C:SLG/E)I6QE/3-$)W1E M>'0M86QI9VXZ(')I9VAT.R!C;VQO6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[(&-O M;&]R.B!B;&%C:SLG(&YO=W)A<#TS1&YO=W)A<#XE/"]T9#X\=&0@6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[(&-O;&]R.B!B;&%C:SLG M(&YO=W)A<#TS1&YO=W)A<#XF(S$V,#L\+W1D/CQT9"!S='EL93TS1"=T97AT M+6%L:6=N.B!R:6=H=#L@8V]L;W(Z(&)L86-K.R<@;F]W6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[(&-O;&]R.B!B;&%C:SLG/D5X M<&5C=&5D('1E6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[ M(&-O;&]R.B!B;&%C:SLG(&YO=W)A<#TS1&YO=W)A<#XF(S$V,#L\+W1D/CQT M9"!S='EL93TS1"=C;VQO6QE M/3-$)W1E>'0M86QI9VXZ(')I9VAT.R!C;VQO6QE/3-$)V)A M8VMG6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[(&-O;&]R.B!B;&%C M:SLG/D1I=FED96YD('EI96QD/"]T9#X\=&0@6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT.R!C;VQO6QE/3-$)W1E>'0M86QI M9VXZ(&QE9G0[(&-O;&]R.B!B;&%C:SLG(&YO=W)A<#TS1&YO=W)A<#XF(S$V M,#L\+W1D/CQT9"!S='EL93TS1"=C;VQO6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT.R!C;VQO6QE/3-$)W1E>'0M86QI M9VXZ(&QE9G0[(&-O;&]R.B!B;&%C:SLG/B8C,38P.SPO=&0^/"]T6QE M/3-$)W1E>'0M86QI9VXZ(')I9VAT.R!C;VQO6QE/3-$)V-O;&]R.B!B;&%C:SLG(&YO=W)A<#TS1&YO=W)A<#XF(S$V,#L\ M+W1D/CQT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T.R!C;VQO6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[(&-O M;&]R.B!B;&%C:SLG/B4\+W1D/CPO='(^/"]T86)L93X\2!;5&%B;&4@5&5X="!";&]C:UT\+W1D/@T*("`@("`@("`\=&0@8VQA M6QE/3-$)VUA#L@9F]N=#H@ M,3!P="!T:6UE2!F;W(@=&AE('!E#L@9F]N=#H@,3!P="!T:6UEF4Z(#$P<'0[)SXF(S$V,#L\+W1D/@T*/'1D('-T>6QE/3-$ M)V)OF4Z(#$P<'0[)R!C;VQS<&%N/3-$,CXR,#$Q/"]T M9#X-"CQT9"!S='EL93TS1"=T97AT+6%L:6=N.B!C96YT97([('!A9&1I;F6QE/3-$)V)A8VMG2`Q/"]T9#X-"CQT9"!S='EL93TS1"=W:61T:#H@,B4[ M(&-O;&]R.B!B;&%C:SL@9F]N="US:7IE.B`Q,'!T.R<^)B,Q-C`[/"]T9#X- M"CQT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T.R!W:61T:#H@,24[(&-O M;&]R.B!B;&%C:SL@9F]N="US:7IE.B`Q,'!T.R<^)B,Q-C`[/"]T9#X-"CQT M9"!S='EL93TS1"=T97AT+6%L:6=N.B!R:6=H=#L@=VED=&@Z(#$P)3L@8V]L M;W(Z(&)L86-K.R!F;VYT+7-I>F4Z(#$P<'0[)SXQ+#4P-BPP,#<\+W1D/@T* M/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('=I9'1H.B`Q)3L@8V]L M;W(Z(&)L86-K.R!F;VYT+7-I>F4Z(#$P<'0[)SXF(S$V,#L\+W1D/@T*/'1D M('-T>6QE/3-$)W=I9'1H.B`R)3L@9F]N="US:7IE.B`Q,'!T.R<^)B,Q-C`[ M/"]T9#X-"CQT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T.R!W:61T:#H@ M,24[(&9O;G0MF4Z(#$P<'0[)SXF(S$V,#L\ M+W1D/@T*/"]T6QE/3-$ M)W1E>'0M86QI9VXZ(&QE9G0[(&-O;&]R.B!B;&%C:SL@9F]N="US:7IE.B`Q M,'!T.R<^1&5R:79A=&EV92!W87)R86YT6QE/3-$)V-O;&]R.B!B;&%C:SL@9F]N="US:7IE.B`Q,'!T.R<^)B,Q-C`[ M/"]T9#X-"CQT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T.R!C;VQOF4Z(#$P<'0[)SXF M(S$V,#L\+W1D/@T*/'1D('-T>6QE/3-$)V9O;G0M6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('!A9&1I;F&5R8VES960\+W1D/@T*/'1D('-T>6QE/3-$ M)W!A9&1I;F'0M86QI9VXZ(&QE9G0[(&-O;&]R M.B!B;&%C:SL@9F]N="US:7IE.B`Q,'!T.R<^)B,Q-C`[/"]T9#X-"CQT9"!S M='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`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`@("`\ M+W1R/@T*("`@("`@/'1R(&-L87-S/3-$6UE;G1S(&9O3L@=&5X="UI;F1E;G0Z M(#`N-6EN.R!M87)G:6XZ(#!P="`P<'@[(&9O;G0Z(#$P<'0@=&EM97,@;F5W M(')O;6%N+"!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('=I9'1H M.B`X-R4[(&-O;&]R.B!B;&%C:SLG/C(P,3,\+W1D/@T*/'1D('-T>6QE/3-$ M)W=I9'1H.B`Q)3L@8V]L;W(Z(&)L86-K.R<^)B,Q-C`[/"]T9#X-"CQT9"!S M='EL93TS1"=T97AT+6%L:6=N.B!L969T.R!W:61T:#H@,24[(&-O;&]R.B!B M;&%C:SLG/B0\+W1D/@T*/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT M.R!W:61T:#H@,3`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`E.R!F;VYT+7-I>F4Z(#$P<'0[)SXH,RPP,#8L-#8Y/"]T9#X\=&0@ MF4Z(#$P<'0[)SXI/"]T9#X\+W1R/CQT MF4Z(#$P<'0[)SXF(S$V,#L\+W1D/CQT9"!S='EL93TS M1"=P861D:6YG+6)O='1O;3H@,7!T.R!F;VYT+7-I>F4Z(#$P<'0[)SXF(S$V M,#L\+W1D/CQT9"!S='EL93TS1"=B;W)D97(M8F]T=&]M.B!B;&%C:R`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`Q)3L@9F]N=#H@,3!P M="!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT.R!W:61T M:#H@,3`E.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E M6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('=I9'1H.B`Q)3L@ M9F]N=#H@,3!P="!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(')I M9VAT.R!W:61T:#H@,3`E.R!F;VYT.B`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`Q,'!T.R<^ M)B,Q-C`[/"]T9#X\=&0@6QE/3-$)V9O;G0Z(#$P<'0@ M=&EM97,@;F5W(')O;6%N+"!T:6UE6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[(&9O M;G0Z(#$P<'0@=&EM97,@;F5W(')O;6%N+"!T:6UE6QE/3-$)W1E>'0M86QI9VXZ M(')I9VAT.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E M6QE/3-$)V)A8VMG6QE/3-$)W!A9&1I M;F'0M86QI9VXZ(')I9VAT.R!F;VYT M.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E'0M86QI9VXZ(')I9VAT.R!F;VYT.B`Q,'!T('1I;65S(&YE M=R!R;VUA;BP@=&EM97,L('-E6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('!A9&1I M;F'0M86QI9VXZ(')I M9VAT.R!F;VYT.B`Q,'!T('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E'0M86QI9VXZ(')I9VAT.R!F;VYT.B`Q,'!T M('1I;65S(&YE=R!R;VUA;BP@=&EM97,L('-E'0^/'`@ M"!R M871E(&]F(#,U)2!T;R!I;F-O;64@=&%X(&5X<&5N6QE/3-$ M)W9E'0M86QI9VXZ(&-E;G1E6QE/3-$ M)W!A9&1I;F6QE/3-$)W!A9&1I;F6QE/3-$)V)O6QE/3-$ M)V)A8VMG6QE/3-$)W1E>'0M86QI9VXZ(&QE M9G0[('=I9'1H.B`Q)3L@8V]L;W(Z(&)L86-K.R<^)#PO=&0^#0H\=&0@6QE/3-$)W1E>'0M86QI M9VXZ(&QE9G0[('=I9'1H.B`Q)3L@8V]L;W(Z(&)L86-K.R<^*3PO=&0^#0H\ M=&0@6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('=I9'1H.B`Q M)3L@8V]L;W(Z(&)L86-K.R<^)#PO=&0^#0H\=&0@6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('=I M9'1H.B`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`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<"!S M='EL93TS1"=M87)G:6XZ(#!P="`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`Q)3L@8V]L;W(Z(&)L86-K.R<^)#PO=&0^#0H\=&0@6QE/3-$)W=I9'1H.B`Q)3L@8V]L;W(Z(&)L86-K.R<^)B,Q-C`[/"]T9#X- M"CQT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T.R!W:61T:#H@,24[(&-O M;&]R.B!B;&%C:SLG/B0\+W1D/@T*/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ M(')I9VAT.R!W:61T:#H@,3`E.R!C;VQO6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('=I9'1H.B`Q)3L@ M8V]L;W(Z(&)L86-K.R<^)B,Q-C`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`[/"]T9#X-"CQT M9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T.R<^)B,Q-C`[/"]T9#X-"CQT M9#XF(S$V,#L\+W1D/@T*/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[ M)SXF(S$V,#L\+W1D/@T*/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT M.R<^)B,Q-C`[/"]T9#X-"CQT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T M.R<^)B,Q-C`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`[/"]T9#X-"CQT9"!S='EL93TS M1"=T97AT+6%L:6=N.B!L969T.R<^)B,Q-C`[/"]T9#X-"CQT9#XF(S$V,#L\ M+W1D/@T*/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[)SXF(S$V,#L\ M+W1D/@T*/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT.R<^)B,Q-C`[ M/"]T9#X-"CQT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T.R<^)B,Q-C`[ M/"]T9#X-"CPO='(^#0H\='(@6QE M/3-$)W1E>'0M86QI9VXZ(&QE9G0[('!A9&1I;F'0M86QI9VXZ(')I9VAT.R!C;VQO6QE/3-$)V)O3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R=%\Q,S!A M.&0U,E\U8V)B7S0U9C)?8C(W-U\V.#%A9C'0O:'1M;#L@8VAA'0@0FQO8VM=/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\ M<"!S='EL93TS1"=M87)G:6XZ(#!P="`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`[/"]T9#X- M"CQT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T.R<^)B,Q-C`[/"]T9#X- M"CQT9#XF(S$V,#L\+W1D/@T*/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE M9G0[)SXF(S$V,#L\+W1D/@T*/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I M9VAT.R<^)B,Q-C`[/"]T9#X-"CQT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L M969T.R<^)B,Q-C`[/"]T9#X-"CPO='(^#0H\='(@6QE/3-$)W=I9'1H.B`W-"4[(&-O;&]R.B!B;&%C:SLG/DEN M=&5R97-T/"]T9#X-"CQT9"!S='EL93TS1"=W:61T:#H@,24[(&-O;&]R.B!B M;&%C:SLG/B8C,38P.SPO=&0^#0H\=&0@6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[('=I M9'1H.B`Q)3L@8V]L;W(Z(&)L86-K.R<^)#PO=&0^#0H\=&0@6QE/3-$)W1E>'0M86QI M9VXZ(&QE9G0[(&-O;&]R.B!B;&%C:SLG/DEN8V]M92!T87AE6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT.R!C;VQO M6QE/3-$ M)V-O;&]R.B!B;&%C:SLG/B8C,38P.SPO=&0^#0H\=&0@6QE/3-$)V-O;&]R.B!B;&%C:SLG/DYO;BUC87-H(&%C M=&EV:71I97,Z/"]T9#X-"CQT9#XF(S$V,#L\+W1D/@T*/'1D('-T>6QE/3-$ M)W1E>'0M86QI9VXZ(&QE9G0[)SXF(S$V,#L\+W1D/@T*/'1D('-T>6QE/3-$ M)W1E>'0M86QI9VXZ(')I9VAT.R<^)B,Q-C`[/"]T9#X-"CQT9"!S='EL93TS M1"=T97AT+6%L:6=N.B!L969T.R<^)B,Q-C`[/"]T9#X-"CQT9#XF(S$V,#L\ M+W1D/@T*/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(&QE9G0[)SXF(S$V,#L\ M+W1D/@T*/'1D('-T>6QE/3-$)W1E>'0M86QI9VXZ(')I9VAT.R<^)B,Q-C`[ M/"]T9#X-"CQT9"!S='EL93TS1"=T97AT+6%L:6=N.B!L969T.R<^)B,Q-C`[ M/"]T9#X-"CPO='(^#0H\='(@6QE/3-$)W1E>'0M86QI9VXZ(')I M9VAT.R<^-#`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`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^ M#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA2!O9B!3:6=N:69I8V%N="!!8V-O=6YT:6YG M(%!O;&EC:65S("A$971A:6QS(#$I("A54T0@)"D\8G(^/"]S=')O;F<^/"]T M:#X-"B`@("`@("`@/'1H(&-L87-S/3-$=&@^1&5C+B`S,2P@,C`Q,CQB7!E.B!T97AT+VAT;6P[(&-H M87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@/&AE860^#0H@("`@/$U% M5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O M:'1M;#L@8VAA3PO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^ M#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^ M#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$3X-"CPO:'1M;#X-"@T*+2TM M+2TM/5].97AT4&%R=%\Q,S!A.&0U,E\U8V)B7S0U9C)?8C(W-U\V.#%A9C'0O:'1M;#L@8VAA7!E(&-O;G1E;G0],T0G=&5X="]H=&UL.R!C:&%R M3PO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N M/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N M/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$'0O:F%V M87-C3X-"B`@("`\=&%B M;&4@8VQA2!O M9B!3:6=N:69I8V%N="!!8V-O=6YT:6YG(%!O;&EC:65S("A$971A:6QS(#0I M("A54T0@)"D\8G(^/"]S=')O;F<^/"]T:#X-"B`@("`@("`@/'1H(&-L87-S M/3-$=&@@8V]L'0^/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$2!;365M8F5R73PO=&0^#0H@("`@("`@(#QT M9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R M/@T*("`@("`@/'1R(&-L87-S/3-$F5D(&EN(&5A'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA2!O9B!3:6=N:69I8V%N="!!8V-O=6YT:6YG(%!O;&EC:65S M("A$971A:6QS(%1E>'1U86PI("A54T0@)"D\8G(^/"]S=')O;F<^/"]T:#X- M"B`@("`@("`@/'1H(&-L87-S/3-$=&@@8V]L'0^,34@>65A6%L='D@ M4F5V96YU92!$97-C'0^5&AE($-O;7!A;GD@86QS;R!R96-E:79E3PO=&0^#0H@("`@("`@(#QT9"!C M;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@ M("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$'0^/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$2P@4&QA M;G0@86YD($5Q=6EP;65N="P@57-E9G5L($QI9F4\+W1D/@T*("`@("`@("`\ M=&0@8VQA'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@ M("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@ M/'1R(&-L87-S/3-$'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@ M("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@ M("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X- M"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP M92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA2`H1&5T86EL'0^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@ M("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@ M("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@ M("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@ M("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@ M("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@ M("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@ M("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@ M("`@(#QT9"!C;&%S3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R=%\Q,S!A M.&0U,E\U8V)B7S0U9C)?8C(W-U\V.#%A9C'0O:'1M;#L@8VAA'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\ M+W1R/@T*("`@("`@/'1R(&-L87-S/3-$'0^/'-P86X^/"]S M<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA7!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'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA2!6 M86QU93PO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R M/@T*("`@("`@/'1R(&-L87-S/3-$'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R M/@T*("`@("`@/'1R(&-L87-S/3-$2!);G1E'0^/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$2!);G1E3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R M=%\Q,S!A.&0U,E\U8V)B7S0U9C)?8C(W-U\V.#%A9C'0O:'1M;#L@8VAA3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R=%\Q M,S!A.&0U,E\U8V)B7S0U9C)?8C(W-U\V.#%A9C'0O:'1M;#L@8VAA'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L M87-S/3-$'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R M(&-L87-S/3-$'0^/'-P86X^/"]S M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S M<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@ M("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@ M("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R=%\Q,S!A M.&0U,E\U8V)B7S0U9C)?8C(W-U\V.#%A9C'0O:'1M;#L@8VAA'1U86PI("A54T0@)"D\8G(^/"]S=')O M;F<^/"]T:#X-"B`@("`@("`@/'1H(&-L87-S/3-$=&@@8V]L2!297!A:7)S(&%N9"!-86EN=&5N86YC93PO=&0^#0H@("`@("`@(#QT M9"!C;&%S'0O:F%V87-C M3X-"B`@("`\=&%B;&4@ M8VQA3PO'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@ M("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@ M("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$6EN9R!V86QU93PO M=&0^#0H@("`@("`@(#QT9"!C;&%SF%T:6]N(&5X<&5N'0^/'-P86X^/"]S<&%N M/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N M/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@ M("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^ M#0H@("`@("`@(#QT9"!C;&%S'0O:F%V87-C3X- M"B`@("`\=&%B;&4@8VQA6%B;&4\+W1D/@T*("`@("`@("`\=&0@8VQA'!E M;G-E3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R=%\Q M,S!A.&0U,E\U8V)B7S0U9C)?8C(W-U\V.#%A9C'0O:'1M;#L@8VAA6%B;&4\+W1D/@T*("`@ M("`@("`\=&0@8VQA'0^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S M/3-$6%B;&4\+W1D/@T*("`@("`@("`\=&0@8VQA'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C M;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T* M("`@("`@/'1R(&-L87-S/3-$6%B;&4\+W1D/@T*("`@("`@("`\=&0@ M8VQA'0O:F%V87-C3X-"B`@ M("`\=&%B;&4@8VQA3X-"CPO:'1M M;#X-"@T*+2TM+2TM/5].97AT4&%R=%\Q,S!A.&0U,E\U8V)B7S0U9C)?8C(W M-U\V.#%A9C'0O:'1M;#L@8VAA M'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA M2!"86YK(%M-96UB97)=/&)R/CPO=&@^ M#0H@("`@("`@(#QT:"!C;&%S2P@06UO=6YT/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$ M=&5X=#X\'0^/'-P86X^/"]S<&%N/CPO=&0^ M#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^ M#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^ M#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^ M#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^ M#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^ M#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L M87-S/3-$'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M3$E"3U(@<&QU'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT M9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT M9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R M/@T*("`@("`@/'1R(&-L87-S/3-$6UE;G0\+W1D/@T*("`@("`@("`\=&0@8VQA2!A9W)E96UE;G0N(%1H92!#;VUP86YY(&%L'0^/'-P86X^/"]S<&%N M/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N M/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N M/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N M/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^3$E"3U(@<&QU'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R M(&-L87-S/3-$6UE;G1S($1E6%L='D@3&EA8FEL:71Y M/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XQ,RPX,#`L,#`P/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S M/3-$6%L='D@;&EA8FEL:71Y(')E;&%T M960@=&\@9FEN86YC:6YG/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M M<#XW+#,T,2PU,C`\'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C M;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C M;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C M;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C M;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C M;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C M;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C M;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C M;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C M;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C M;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C M;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T* M("`@("`@/'1R(&-L87-S/3-$'!E;G-E/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\ M6UE;G0@=V%S(&EN=&5R97-T(&]N;'D@9F]R('1H92!F:7)S="!N M:6YE(&UO;G1H'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA M2`Q+"!3:&%R97,\+W1D/@T*("`@("`@ M("`\=&0@8VQA'!I&5R8VES86)L92!A="!$96-E;6)E M&5R8VES92!0&5R8VES960L5V5I9VAT960@ M079E&5R8VES92!0&5R8VES92!07!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@8VAA3X-"CPO:'1M;#X-"@T*+2TM+2TM/5]. M97AT4&%R=%\Q,S!A.&0U,E\U8V)B7S0U9C)?8C(W-U\V.#%A9C'0O:'1M;#L@8VAA7!E(&-O;G1E;G0],T0G=&5X="]H=&UL.R!C:&%R'1U86PI("A54T0@)"D\ M8G(^/"]S=')O;F<^/"]T:#X-"B`@("`@("`@/'1H(&-L87-S/3-$=&@@8V]L M6UE;G0@07=A'0^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S M/3-$'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@ M("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@ M("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$'0^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S M/3-$'!E8W1E9"!497)M/"]T9#X-"B`@("`@("`@/'1D M(&-L87-S/3-$=&5X=#XV('EE87)S(#@@;6]N=&AS(#$R(&1A>7,\2!3:&%R92UB87-E M9"!087EM96YT($%W87)D+"!&86ER(%9A;'5E($%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@ M("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$6UE;G0@07=A2!3:&%R92UB87-E9"!087EM96YT($%W87)D M+"!/<'1I;VYS+"!/=71S=&%N9&EN9RP@26YT'0^/'-P86X^/"]S<&%N M/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$6UE;G0@07=A'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S M'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@ M("`@/'1R(&-L87-S/3-$2!3:&%R92!"87-E9"!087EM96YT($%W87)D($5Q=6ET>2!);G-T M'0^,R!Y96%R6UE;G0@07=A'0^/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$'1087)T7S$S,&$X9#4R7S5C8F)?-#5F,E]B,C'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA'0^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S M/3-$'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@ M("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$2`Q+"`R,#$R+"!796EG:'1E M9"!!=F5R86=E($5X97)C:7-E(%!R:6-E("AI;B!D;VQL87)S('!E'0O:F%V87-C M3X-"B`@("`\=&%B;&4@ M8VQA'!E8W1E9"!T97)M/"]T9#X-"B`@("`@("`@/'1D(&-L M87-S/3-$=&5X=#XS('EE87)S(#D@;6]N=&AS(#(Y(&1A>7,\3PO=&0^#0H@ M("`@("`@(#QT9"!C;&%S3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R=%\Q,S!A.&0U,E\U8V)B M7S0U9C)?8C(W-U\V.#%A9C'0O M:'1M;#L@8VAA2`Q+"!3:&%R97,\+W1D/@T*("`@("`@("`\=&0@8VQA M2`Q+"!3:&%R97,\+W1D/@T*("`@("`@("`\=&0@8VQA7!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@8VAA'1U86PI("A54T0@)"D\ M8G(^/"]S=')O;F<^/"]T:#X-"B`@("`@("`@/'1H(&-L87-S/3-$=&@@8V]L M'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@ M/'1R(&-L87-S/3-$&5R8VES92!0 M'0^/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$ M'!I65A2!$97)I=F%T:79E($QI86)I;&ET>3PO=&0^ M#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S M<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT M9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT M9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT M9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT M9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^ M#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^ M#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^ M#0H@("`@("`\+W1R/@T*("`@(#PO=&%B;&4^#0H@(#PO8F]D>3X-"CPO:'1M M;#X-"@T*+2TM+2TM/5].97AT4&%R=%\Q,S!A.&0U,E\U8V)B7S0U9C)?8C(W M-U\V.#%A9C'0O:'1M;#L@8VAA M3X-"CPO:'1M M;#X-"@T*+2TM+2TM/5].97AT4&%R=%\Q,S!A.&0U,E\U8V)B7S0U9C)?8C(W M-U\V.#%A9C'0O:'1M;#L@8VAA M'0^/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@(#PO=&%B;&4^#0H@(#PO M8F]D>3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R=%\Q,S!A.&0U,E\U M8V)B7S0U9C)?8C(W-U\V.#%A9C'0O:'1M;#L@8VAA&5S("A$971A:6QS*2`H M55-$("0I/&)R/CPO2!;365M8F5R73PO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L M87-S/3-$'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA M3X-"CPO:'1M;#X- M"@T*+2TM+2TM/5].97AT4&%R=%\Q,S!A.&0U,E\U8V)B7S0U9C)?8C(W-U\V M.#%A9C'0O:'1M;#L@8VAA&5S+"!N970@;V8@1F5D97)A;"!B M96YE9FET/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XT-#,L,C,V M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S"!%>'!E;G-E7$)E;F5F:70\+W1D/@T*("`@("`@("`\=&0@ M8VQA7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S M+6%S8VEI(@T*#0H\:'1M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE M<75I=CTS1$-O;G1E;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA M'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\ M+W1R/@T*("`@("`@/'1R(&-L87-S/3-$2!F;W(@=F%C M871I;VX\+W1D/@T*("`@("`@("`\=&0@8VQA"!A'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\ M+W1R/@T*("`@("`@/'1R(&-L87-S/3-$"!A'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT M9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R M/@T*("`@("`@/'1R(&-L87-S/3-$3X-"CPO:'1M;#X- M"@T*+2TM+2TM/5].97AT4&%R=%\Q,S!A.&0U,E\U8V)B7S0U9C)?8C(W-U\V M.#%A9C'0O:'1M;#L@8VAA69O"!2871E M/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XS-2XP,"4\'!I"!%>&%M:6YA=&EO;BP@4&5N86QT:65S(&%N9"!) M;G1E'!E;G-E/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M M<#XD(#`\'0^ M179E;G1S('=H:6-H(&-A=7-E(&QI;6ET871I;VYS(&EN('1H92!A;6]U;G0@ M;V8@;F5T(&]P97)A=&EN9R!L;W-S97,@=&AA="!T:&4@0V]M<&%N>2!M87D@ M=71I;&EZ92!I;B!A;GD@;VYE('EE87(@:6YC;'5D92P@8G5T(&%R92!N;W0@ M;&EM:71E9"!T;RP@82!C=6UU;&%T:79E(&]W;F5R7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\ M:'1M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E M;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA'1U86PI("A54T0@)"D\8G(^/"]S=')O M;F<^/"]T:#X-"B`@("`@("`@/'1H(&-L87-S/3-$=&@@8V]L7!E M.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@ M/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C M;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@ M/'1R(&-L87-S/3-$&5S/"]T9#X- M"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XP/'-P86X^/"]S<&%N/CPO=&0^ M#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S M'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@ M("`@/'1R(&-L87-S/3-$6%B;&4@:6YT;R!C;VUM;VX@6%L='D@;&EA8FEL:71Y M(')E;&%T960@=&\@9FEN86YC:6YG/"]T9#X-"B`@("`@("`@/'1D(&-L87-S M/3-$;G5M<#XD(#7!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@ M8VAA'1U M86PI("A54T0@)"D\8G(^/"]S=')O;F<^/"]T:#X-"B`@("`@("`@/'1H(&-L M87-S/3-$=&@@8V]L'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T* M("`@("`@/'1R(&-L87-S/3-$'0^/'-P86X^/"]S M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S M<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$2!O9B!$:7)E8W0@0V]S=',\+W1D/@T*("`@("`@("`\=&0@8VQA'0^/'-P86X^/"]S<&%N/CPO=&0^ M#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^ M#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S M+6%S8VEI(@T*#0H\>&UL('AM;&YS.F\],T0B=7)N.G-C:&5M87,M;6EC&UL M/@T*+2TM+2TM/5].97AT4&%R=%\Q,S!A.&0U,E\U8V)B7S0U9C)?8C(W-U\V /.#%A9C XML 34 R43.htm IDEA: XBRL DOCUMENT v2.4.0.6
Acquisition (Details) (USD $)
Dec. 31, 2012
Finished inventory $ 504,827
Goodwill 728,618
Total purchase price 1,450,166
Customer Lists [Member]
  
Purchase price 157,077
Trademarks [Member]
  
Purchase price $ 59,644
XML 35 R29.htm IDEA: XBRL DOCUMENT v2.4.0.6
Accrued Liabilities (Tables)
 12 Months Ended
Dec. 31, 2012
Payables and Accruals [Abstract]  
Schedule of Accrued Liabilities [Table Text Block]

Accrued liabilities consist of the following:

 

    December 31,  
    2012     2011  
Acquisition contingent liability   $ 91,740     $ 450,166  
Accrued stock compensation     218,850       608,933  
Wages/commissions payable     1,013,909       1,289,827  
Other accrued expenses     1,075,591       1,413,285  
    $ 2,400,090     $ 3,762,211

 
XML 36 R28.htm IDEA: XBRL DOCUMENT v2.4.0.6
Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2012
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets [Table Text Block]

The following table sets forth information regarding intangible assets:

 

 

December 31,
2012

    

December 31,
2011

  
Intellectual Property            
Gross carrying value   $ 820,778     $ 809,615  
Accumulated amortization   $ (228,400 )   $ (153,482 )
Net carrying value   $ 592,378     $ 656,133  
                 
Aggregate amortization expense:   $ 74,918     $ 53,638  
                 
Estimated amortization expense:                
                 
2013           $ 74,918  
2014           $ 74,918  
2015           $ 74,918  
2016           $ 74,918  
2017           $ 74,918  
Thereafter           $ 217,788  
Total           $ 592,378
ZIP 37 0001144204-13-017789-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001144204-13-017789-xbrl.zip M4$L#!!0````(`#%K>T*EA>A@*.P``)<."P`1`!P`8F]N92TR,#$R,3(S,2YX M;6Q55`D``XTK4U&-*U-1=7@+``$$)0X```0Y`0``[%UI<^,XDOT^$?,?-/X\ MLGD?WJJ:\"67I^VRPW97=<7NAH,F(0M;%*D!25OJB9C?O@!)2:1$\9!`B9>C MHMLF2.3+S(?$#7SZQW1L]MX!CWY\'?>7H'U_^ M^I=/?^OW>]?``DAS@='S')S>N_JS_\?YX^W\\YYTS!RSQWSOOQG^A,/_&);O M,?PISY]R:N_A[G][K[/>I>9JSTC3?SF]?G^>\;GFX$QQ#GYVW#&[3/.?7-JZ M-P:6V[O#P(80O_L!W1&1?V5`UT:][R$"C/^8.U97!.&$)\\RM-G?>W<:TD<] M3OA[+T`GG'+\J2AA=+E%?H?@`\1%BL<*$?+L`2V=S*=-7 M9,)3\M\>MK_EG+[:%OA\-'+=R>G)RM8M\?$DAS+\>Q1^+8) MK5^QMTE.QS9ZPV]BVY/D5VS2^>LDU8"+#Z(O2R=!XN+5M:P_>/]=5E75$S]U M\:H#DU[$F;(G?]S=/NDC,-;ZT')$C2X.ZD_R-GT0^8>.?.%!/_@`G)+WN3M"&]W%*P@>>TW_3M,GBFZ'FO/J> M#1,2M)B:*?SYXS9":L]%*;3!J4>D^))B<.KX!'\$PYY?+$Y#3J47GI,)LB<` MN1`XT6+J9^#.)OAK!XXGYN+9"('AYR,2'?KS('`\=8RCDWGHO+`M%TS=WA/0 M71*.8@%&#Q,A+@OABR]GSLO]\(5G^Y=`)WDR1\OW<;R#[FSY-S3($QS]4,_7 M-J[K'Y,,3Y(E8%M`VXA(](N_BQ\0:'WL2)Y= M?KU,G3]9?G\24[F@#5X>@4E"QH.&W!FN-2Q'\\WIG,^B*6=3Z+Q<@E=W`"T< MI'`=>`?&KP#MQX3!,P>\D7II_L#`(G'\@CIT`RP]`^+TH#H/2\1I?NV.OA"N MG2;H^.DD45S$]!%D%??VDXN5)EBO_N5A@!?V>(*UMES'=S#^U/5.?HR?VU-K_:X],S`[41L,\U\T*!Q8UUH$^AJ9J/US]"%P-6L"X MTI"%@Y?3*!\G*]`.WMF;5Q)U)6BS=N*I. M`QR(N[S$@6R1EA1N>.NV:>$'O\)@-<#=]%M3KX>3"[>J,O0MG06X(\67R`). MQBR8T6;!RX.']!'N)IU9QB-X@XZ+-)+5(WP;X?#XAH`?-_VL%J\NGJ9^T]%L MA6:9F/S\\SLD!+256_91&L0^)],O#1>>X]KCKCATQ:'BQ0'3';F7V&:1`L%$ MJH=H^H(2QLH'T1*T3-VM!/%W5R\\T_^G9P7%Y\E[=:`!-31[TDQP/_3[L`'% M$7S'$A],3:\1AS?JLVPB)BNV'Q8(15D@]7F&/@NDC@6'9`%;#1:$/8R.!_OA MP6H3*>Y4RMW&B%,?->LMZ.O?00N.O7'8W&F:LQ=Z+IT;4WB7YDA'J&1":=.6 M$2JJ<$>H788T5$PHLW`?[@X:NC;!S?JG]]>:L*AHKVI=Q7WX6NYSZCY\?6M; M;^[J(/1298CULZWOFFF"V;EFU62:,$FI-6\FJU9?W\X'8[J"?-""O-Z]P.Y6 M"G4OXOR@U;T8_+R*S#^QE5H,LWN?;&76IR2C=>LIJMPOKP0'N@48'3>Z%1NE MKMBH#QL:U@.O5.^X/BS8OKYH'H/*K6`Z)I?*Y!M+M\?@69N>>>[(1G"^3AP_ M=%RH7P1;1>K!Q&1=ENY/5*K5WK\&]AO2)B-B$TO':LTG\9T@(OUN0=SK]DMX MQ5LV_G!`ACKAH,&Z4JWFP-F'AHS%..$C+B$(ZKZ!:M/GC:D0;;XFZ-)J7V>5 M=V*Q^^$/&QNHVIXO4-S7=&HU`]8L=3Y;E/U@N!F@M7>JS87ED-9&U2+C7NDZ MMIH;!4="V]J3*3)TVO5>2F5L@=FP,USHH:Y9E[9EHR>`WJ%>]3;MUM-B*;IV M=,E'EQ^XU7!A:X[[#!W'`PTG3*JVK:;,HDYP'-Q>T'"6/CW\\'R-3>LZ\\JP M&=.(/AV2E0ZYLJ8ZE>JOF[4\&#=K.;U9;9YVLZF[IE03U6LQ1;6KH&[M!I65/&T=Y"I,G_P`NI&NK<;M0S_= M#^_=$4!7TPDV+/AF6^1(/LW%/EH<\'8)'?^(1^?,,L@Y+?<(OD'+'^D>@+J, M8>14.'+F6RZU6TXBB]@-ZX-_PX40!-,?D2F@'QHBU=4E\$L@?`>W4'N%)E:_ M+JS)T'`^X)6A9ZMHLGJ05;4V$JQLM=G385[=OH#][9ZJB$MK.0Y6]8&I:KJZ M7AW-RO;\#N7<;H?KWG>X[LVWW0*EO2]0.I2K!QI$F,H>.)\M?OV*K4PNH)C= M@G=@^EY?I-U8$\]U_`2^'A[/I^'2^2FJ=H[W$]CV.)YMGN,?@@LD9@^FYI\< M2!HR$X(]$N2_@Q'4S;H,4^70:.GEN&IM<^S`P^U1UT/DL,D!G)+?FNCDS6HV MR>%IS;24=?GU\'>NAEJFEDUR]PXU-E,15H#W;U!Q[:Y^LD>NA\:JDG`+N3AN&IMF%N]$9/Z>N"YV;I[4:M[+^H:"RA?+,'WSR8A M"[IE=WONXG#D.CN.+\VW0H9ONRY.63X52FOZ+&Z1JE9EMVJ#4B\^XN?WI53; M!G*997MI@^9M8:W2#M+].'5^$U#GU8/L"_;]6K!M'B<"K;;YG`BXZO;>NJJ[ M[*I[G0=*41XHL=J>\BW33V`2D.`80^]&D5>T5*OE MWA/<^7.7NESEZ@.MV4^\SJM62`]WVZXX;F[C1[==N M&1NZOFW'@FZ^80_S#;4APPZ-A^:%D^[*O1HSN;MRK\W>[Z[!:_<:P1=NBOW.LJL]XZZ M*X.:Z>7N,I;N,I:Z[C*4VE[%4F409V[.[#>C=?`'7[5@_V([UAE"DV^*> M1^E6$ZC;0=*1H#OIM>R37FO#A.[@LL[UW:G`[23``)*E.K>XC6W<6*YFO<%7 M$YPY#G"=\]F=]G\V6K8LYQ.[M]"IRS'"!=1;G\".Z-EJCB3,^I\#2Q^--10, MQEXCVW$>P3NP/(`K73F'OCO_9WXG!%7%I M=YI/:US='_6H;S?[:NIH=.Z,[#V?N?&WGR; M[\KYEZ2;YOEZ.#J?ALNRG*)JYW@_@6V/X]GF.3[/&MOO8`1ULRZ-K4)K;..J MM<8[O=L64O"NF4AWK;J=#;?V9IZ#>`LT!(]LT;L839+_[P_]-;(*E MZ-DVEY-Y'0\7C$5:`]V]0<>VN?K)'KH?6EVV*!?R<%RUMCFVR66WP66VVT;< M:$]VYT/4VJ<;CD7ICI_:R_%3%1C'ZDZ3VNMI4M7T>'^U,'EW4$<+7)VC/=GEM%HY_M!/TOCNC.!$?MW&B), MX*N[%Y'O,_B?6'YI8+J1C^J,?#"[,?]O_7Z/7"W9>P+^%H]>K]^?/__K7V[^ MP_[/X/O#5S`%EZ(D*S\?P;_@ES]^O_D/>?SS`[[K@B#HHBCJS_\>?9$^?;WZ M)%Q?LX.OGTY992")[&#P];_8T\]?Q<_7GZ1K5;H)\P^`>$0RH9HSTA#`-@V? MCX'F>`A\"2WD)\[!S]/F?Y,\$G+\_>ER+3OHV`+'RJP:!LLC7 M@.^8&5\B+W_SQH0I-MI2]-KWY.$EL.PQ.?E_/=N\!HIE<1)'GZ[YQ(LH'!=+ MDK+L2'AT9?K3YS&*?3(`/+WRB?X(WG"U04K1-VT,>B$Y'\%PX[$!1U_.-=W% MK+9ZN(("*+@403-[7VU_J8WS=_Q:-98#I;V"6#T$T M]&S,:B[GPD,(IPR@HVOF3Z"AJV"K?#Y1_:"(!W(V9157:0!-@"[PXS<;Y53H M:4RF7U#O$4QL1&)?CTR*:]8LJE\LWQ4K+G=J^Z7$N?=<$HF(0Q(1K%>M/<(: M_YTP'O0,H$.,R_E\Q!Q]$3A)4%5)B!D\1>H<'VF-X#^?9N-7V\QG#!+;`S&Q MC^(X_5N08?3;>7YG^(%!'@Y,+=E8:QD.L55"B+&O5R$^ M^,&_$-^6[:DXXEA6JW("0@:O#/`S)Y^LP<^XC+5LDN40XA>00OZ;)&>139S* M/X!I_F;9']83CFJ8"<8-N5\,Y9/US8[RF9'ER6]`AT@%_'/=9O MP`W92L.2C,+SHK`$F":/*JYTP\FL*#"26!S7C?6.G^!:'"=3L(\BR*K,,DL< MT?QWDINN/\NS`HM;UMF"_;.5H!$>P(2YY9_'%`QKT.,)IZ@\%^%Q#JEE@,P* MJ3B"L5N#I&TS5I(87F0B@"B*3K<$)XHXE'-\#M%+7MF63DUWE6-$@4MB[T(* M#1`9A8CC%8X3UA4K28S"D2&X&R ML[B,RCJ'N$CHI1IH,'-5-M)^291#!TA&L&$Y21+X`DB"-!J5,\]*JB(HJ]%^ M2V$9E:P@J*(8:S*N"PL;:P_:C+34*#9#)%RK2/QZLS`NB1*6#$.HJBPK:A$L MEQYXMB-'#4%`L;DAXC:C&C'-9F$4(65T?UA%Y;A]0Z)UF!5]S3!#D`>,R*I" M>N[G98GCHIWBC<+H(@D!43KQJGF95+1I43KV@K%1XQ*Z_P?G^U81O M_N0IS0J6E]78F'.:/,K(,KH>@BISZC;0PAKYT9X%I[+3L]9ZM;\JA!:.=-N0 MCA&C%`)#MH`]AUO`:(X&\IP:'1]($$,#14:+'/<2Q/P8RFB!L8PJ,*H8:3RG M%^Q2:CI%4@4A6F:V"BY41S(45528S$*52Y+$*YS,)!?T9`KM@"6K=A(4GF6X0F"6 MI9%&Q)$E25&8Y(BSB]B,`2*&D\C(7*98LM@'NOY1+&1NV`Z7:.I;:S]UX*D% MS<]'+B;AT0E-66LJI\AZ0&`(L&\-?QT3K6C MTT>KV>\L.J/IP.<3O>'NB\@G-.P@"B(G\Y$BG2VV!)`9,T*L@EM\L1&P0B!7 M;YC`E8HW]OPQQDLP)*NN*5BRCZLMD96CD_O9FZWEHYB`+;T'6]<9`./=(/(_>)E!%KU]=D M9`FE#K#H.HXB`,],T_[0+!T,;'1I>Z_NT#/7E^A2'#3$L4!A(O&H$(!RD6<, M?XBRA`U-`7F\M_F@H7OD%R7#[X(]`.3O%-K&V)$]@!'P$N[K'C/DA]W4Y=T$ MHB38W,%@!YNPSCQW9"/X)S`*6SEQYY?HP]PXH+`JE#(\;L_P_"U"E"R7`2H0 M11%0IJVH`,JWM9">F58V%=*$MJO!-D"+M,8.%`!S("@#\/:A;WO`Y00]=2VL MI(BDB2R3DO20T0QU`J,(+!==7[U!'"U$F782.$7&/VEVRH&(>K#+8:CLJ%)2 MM,MAL@W8GC03..'!8V1AO;-ITT=\BVM&[T251%F([@]*$D,!1D8?A",;8F+# M#!DP@@G56?C&SG80R#ZER`1=//N=!&=,#4BB(O-Y!$(MYEF5XCA7RE9L+F^3L!S`RE!+N M*WBRS>0:N$CY55E&Y<181;))%C5$&2,<#,_+?&QI4"Y(_I&:#\@>;I@A+%2A ML0RN2*)C[9':L2**DP1.5*5LH<`"2#.Q++V$'[U3D._`%FK0LMFK")BZ$QT\G:C M,&J0LH8*)586HCLX\D&Z!!.$\_&#&['JF)QA\J?_Y^[-!5GEE4B(3I%%#U+& MO!`C*8J2&U)PDJ-M.9[IKW4*[&?A&D%S1KO32))QKU$)E_UM$D,#1]9DF2P3 M/V7"F%OM?N*?_;<@5)YSP.(FNQC"H(HLCG!N&?-H<;0]1B*RN1A1JQO?!1 M`;O)S@BBBH1IR.:2O=Q;T\NS%"P*O M1KO0I>/)L!(G2RHG%06T#/,#9(^)8&AY^(.P'B![X<'01B!X[UF;`N=JBIOA M-C*@I:'9C0O&_DX._"6R_3;H/(SN3DE,^&HU^>72<(E4254RY%_#GQS2/Y7LP5(8HNJARFZH`*MQ*H-FD M7HL7L?QW$DQU[1]S`(3;+_<[!-JMEJ*6Z/T%E\-IW?!0F$O\T'')J+&'8^?L ML"B+UAOT!%>^<)2W%O80:+`V2O#J&'#G/ M'$C]<6VBQ#;\2UW?P"CE/('K"3"$(96+/L39%$$1>*1%[Z*%\:VO* MLOPF$.7BIV?]//BW6[VTRP;#9)](JBK(;'3K#GW4NS3>9<>PHG!G13^AO7!R_TZ;!0XH<-#B+<05OFGA M![_"9MC`LXQ;4P^T?'GPD#[2_%.ZYW?:!&LU<%%PSMX0\$WF9[5X=?$T]9M< M2SO(S^I&O2PKT3$K?W<5N3,"D]I[=:`!-30CZTMPT"4Y!WK[H_#@P=3TO(KQ M#">+S.H&Y?THMM8UI*D8I\J"Q*K54&S[3D@91EG=!5=%HZQ%.;J&8*ME`L?1 M@:7A7'Q]?`'7Y,HN9ZY[.?WL^JN^PV960>&D>M&@:?K0'^ZH&+<+J$4WO!W& M#GY#A9W?:I>Q%%E1\<_J\0&'\!='N4&ER*22K89B56EW!$:I0BNS<.^*<@.L M!B:H:8`*.K4MZ:$F#ZIPDJQF-^Y7#$7)M!1[JV);)Q$K*\@BLW:PVF$\MMN9H"I$-GF_FOM56F_]_>WS:Y;2,+H/#GFZK\!SXYSEFGBC,12;W& M9U,U'MM9[W5B7]M):C]M<21HQ#5%*GR9L?;7/]T-@`0E2B(E4J(T/'6RUD@D MT&@T&OW>O6&W+TL)EP>@9M@KM1`89[K*_8T!M+N8YGN6Z]Y/46[D4G<&FS43 MZJH-=&>YRH.":/RR/,D5DB^C8E[+#I:Z#>::UUNYF]4P1Z.!>=AZ MI3QT,_D/:*HD4W_V-YPK,<"6LBWERDU8EIIH7QJ"VL&ORPER=BL]P.=Q[IM\ MF$O@H.5N9=@B%(]-$%[FA=5D5IN=SJ#;WZTF;8&A_A6=:,$[\F)'O7ZGMUI[NF$KJ-HL<,9K/<`X0#M=T'G5T-4W\'`*6?@4%T]^ M+5MKV.OL7O0VL.M?=>5:BS7J]OM%?48'$C?^]GY!WK4*#;,=H]/K%SV=>2#4 M#O])N'`35WH`#Z9=7FV=<$YKKY$#GV*Y.VH-]3N=)F]6;<:$LUOI`O@@==D[E4_&/2&UNX=VP)%_6NH6KPY@S7OC!W`6(_=>N9)EU"]5%KA MDHN8_5;`?C^%A3ZP('+N7(;%F0ZWY9D#2RU)6`50IUCD*:WP9XB/`TR"3X-@ MZK?HET'*MEO]9@P#A33#X25KC-4^$D5GK@O:4PC$#5C7(1KI>>U@?>)NR<6) M-BG'H\\-10&Z?:.HB+%IA6I=8?CLLCKJ*P]ZO8WUE3=-6@.0.TI<#LWA<+0_ MD.KW6!;S+GKEA-3Q[D/`YDX\KZ"KA=GMJTWV=LU8-7@[XB\Z9D=-D"D$'H6: M4#51?SKUIQ-X:B*>JJ*LZF`TD/6B\R47CJBE7H]7H#4_5@[_85U.28[?7@H)>"!/D^EMZ5 MD>W>1$9G`3)ERO MU5?'+SIS3="6K)5?!EHB\X]L$H\Y_A$`T$/@.=EV^W!V('GE]FFJ@V;'M=(; M=K&U7T&0DMO'&P<,KG.8@_Y]ZZTWQSX84UW@/D-U*XO,6@.4._RL1K=V()4T M:*>"'C#&$*[,?CF0LR#4OH#",G?5L+\5=U<5>#:M?J^K.FBW3E"]N9R,+CHMXXB*/4***B.]T8=7K;X2T"QE$6LJL+7W?45=NL MU;$2>0`^V,M*^+!E=8WA5BI>F;%J\';@U.R.3#4*^'#X@IA-Y+U7".L6*$&6N@7=B_2$"9N\7/X>8BN"I*_5#0@7#]5@ M]&I@]4W#4DY2\U5C,[/6-[L$0!_Z8L8GHZN*Z3(C%O_D1JU+$ M'9J66BVFX+3U0%K&S%D:RM5=J%SM-ZQ!US"V[/LV7;H*\'8V6%5#9TM!MX%+ MH(@65LU6C8XQL(S13A:5,WEM(.]BJT.K/U`K\>P'LDK5J7'UG>_=?V;!O)(` MI%%O,.JK?L3=[0/!P:$>OP#J6K]W>N4&:UTLQPV+$ZP]V20<[(]"[S/;` M)56KT;Y0OP_N;4]$"0$@H>\Z$]GE_D/`0AA%1!")/;/=M%HC!A2Y?A@':.#[ MY-Q[SM09HU[*#588`P?CC6%W/\,"7[I%;XB?_]>-7BRT,%JZ[._?S>W@WO%^ MTCJ+"/[[^D*;PFL_:0;^'3ESH%N//6IP;FU/YU_H6@@+G[[X[G_OHQ?/C1_^ MUYXO7OR/T>^\.,:GEW'H>"P,M5`"T77E>!.&&.A<]QSOA78@?I0E;)KUT!E@K#O\D(<9FO1. M/M:@1=.L-LAI,`O&B#O3Y<'3?IXQ#6,.Y@O;6SJ\G8\XFF/(QC8TZCCKF?S&&3M'[Z+[7A@6CCUU[IF`ZY=^]$. MD.<$"Y\7!]:)'AT8Z7'FNRZ0Y*,'`(1)E4Y]P_CIL+^Q!WMB9P=]/A;VE`?F MPA`(,D?TT#0[+V[YLI-OC!>:'Z@/R"F5)WZXUFY<5Z-X&($V[+P.!'@ MN+`.?P&XA.V,I_`6<#H^+=#!%S2LI&\M`A_=SZ$6^=I$]"_D6,[LCWCQ.I=Q MY,$%XRX"AT7(..8LFOD3@`!V,P[YVF8Q`*?9+H`1V%,^/[+YB`$5L;DV9H"_ M<&Q/IT`9''@8($C,3.O!F_];5I3`B&]\(%<`0@O.">(=4%L'%LBF/>#[3@_U?0'5\0CH@OXJKX(G""J>]'M$C;^^(J M,V7>";_$@*49LUV"#JC8?\1/'HL#7[Q"@P3LGGFB.3:._L5C*@H%=/0"L/'K MP!M;@._O(/CXHP#_PY/;(@/+P%"#-@C8IC8N!(_ M>0?V$AYQ`B#2!R?P/62^*:=06`&;+UQ_&7(."E2.0^8N80K,#<^$'P-$;$(0 M"A2HYR/WH#U5NKF!TRB]1_#]/3E5'-A`;2RS-8B_`(-'K@IT`?L)5QC\;_H> M\.C8%>P)SFOLV@'<<`&@GCT"40%A(.6D`V2(=#PC_I,,AE(W4>O<_H(\TJ+#X,.0KE^8!^ADCO?9M8;2 M`4!$,J+R`U"/C3(VY[5(U[9GWS.)&P^XHD.=;O$ZQL,X\^&4*6YZ\CC1RB3[D3>WGG*I=%MAVQ;H5!3D M(R41A'9='YQ=^@;MX3(M4YT[$$Y(;$,EC M>Y&&&>#KR=QD\XA=O`^`B$.06C40E$""55<+^%]C+IDC!@\H1PB'`PXPLX,Y M/ZXV<@L\;!I=)'-$#IQM6@F_=G`SQW06=K%<@F:1]E'WYWB']`CZ`>W#.)7:D`1Q$JK\KK&2[TEO5I*H1YXC3 M'G.MMRS`S%0\&C%7F8D"T/)70,%.E<8`*`_N9F!1_-X>4Z[`7%YK:)J"(Y.B M>=DVS>K0]\U1.-A$)E`S-PT5?(S&X#N%\B[:,3?BEJS:D:\I-?TADA M,K'3I'DE=%-.I"24T991[01>.<8G?,4<*RYGR<&1\46SP(_O9RAQ(D4^^H$[ MN=9N%G!A?'50Z((+;#3XGEX<#;\GU19$`K@+6<#DN?C=<_`PD!F7JRE$V?@. M'AE4PL.%M.)<:^^!%R=7L5@9HQL,]1AEXAZ?M_^]%![S4),(A#NFS;LD,I`$ M3!Q%@,4T^=2F07/GHC_27L%?F-BM63#9UB6KXO."NRXXHF)/6KAH3,%O'D$) MU?!]%&[0^(*GP>'-=&S4,*ZU7Q.1/8,-M!+-DVW('SWE3Z#6_A6C86="^>5X M?<-;"[+Q"X5440WNT)3R@.+V#!9OHQ5(D;\$E`#=%W4*!R\^S@#S,'9*CG?@ M#!\%X8'$3,3?"AR!!((JG`"&)-.\ M\R,X>2_49R>:YS\")O_^'?\W;XW1)/."&%S,?<4'A44L(H!RW]$$CN1@=R[: M#F%(C:Y^(=2)98Q)\4>4^(@1[^_?]7,G_A>ST1@T@9-`EUV@_8A?JT>BYO7] M&`6-V!?$E!\(M!YWEU:G3O;,S`4#6=2)%G?VB#..NK@-M(U&_WL0<;S)E1C^ M?\;CZ70\?J$5(OMU6>_;;S2730%]70<<1,C+1%DR(48S<00IMIKI9 M&->H.]$%O4!V`A19]WF@S1WIO8.C=;O\H:"M\ M-AYG0+3E3D:!D\R%I9`,[7^B@G$88ZB%RW$$'V$B01_K,QEZQS)UH[OMOEF' MN$I\/5W<]P9#P'ZYPW@XMNJ]LE;A,Z][*#+N30W\_4JWB8;4)GX,FDHQDMC& MA4M.L9$8X!2.!B-].!H=1`^'X>OI8K\#/'"D=X>'\<%]\)4YCS^2_GR.=HG$ MDOH[]]>]EB:AIV=*76#NN(BM$2;$7(N]\`>&JK4K:W),_/2VYL6DKL/OJ;%- M..'C.8^&QZ@C[MT3EG[NBT8;&-G@R*;($^EXT$?J3:00M!D&MF5'Q&%(H*I6F0G(ID&'Q!G\=V$%#`8;JBA<@D MY>\G*:PB9$VD\PGXX2ZSW9CO#(8V//(`/#1:1@%&VZ265NE2YOG_,C(!:^.L M#R56_LCC[;EKFRK<)+@"PDK+0:&]-WA@+U3\4LC"1$9D<>.Z4FOS!5#9S2NI=\PD`5 MGU.4!0UWQ:.:QFJM.K%QU]K-.(K)',F#5[B+<^),I^CGY?Y]#'-)X"[IUSQ/ MKI!ZI.QP1NBG#TJ$^[Y<\B(C19+3$)*]7P1FN`Z@:T+G2%2ZUA9Q,)X1,?+@ M2CB*<,4[/$`U`A8"M)WRIH`Q;0XPS('CR1Q)&=$T[[T]4##B&%J]`5NLEI MC/%]5@>.XY)?0"'>I^F_E)HRDMP=KY+!=X]7MY3N_G08]E4$ M=RK26M;9K4@L4090+KF@A,5#SK0P1FX=PAT38ITM"N]*BFF05!,X&)VG)Z0* M`(QCD`D3Y_,C2+0SBM%*'T)"2T-/=,WFH=YY9T.D@>B2`C4X89X_1P^\[TU$ M77CR?<_M)*S/5L&150B!.!?VGI1*:S.Q2,E;P M5,R`@M+`X!3']C3""`NXN.?,]D*N2"0H57);OLYL``4O3Z$=+/P(W?8`(Q(4 MLIH'3%AP0O7, M)3$'\#[7E`)>V`['Q(L[X6EGP1PJOX)E0;$K313\T[#BW[+H?7P1W#%!QD(@ M`TC#3NAD@?B0"7&3S$4,S]T`Z6!LB_8*@T0U640:0TK#&!,NN!5`A)`*TA?D M>PV/,PTK`&E&3U=STC)[H7U6LLW4/+8[!B=H!]F>+84JQ11/9)-2JTL-^\^#V0.HLZ8O)9:Q+K*-,941B48 M/1-V3N"KM@8N3G(P:)T$8<04F+A2)U)L\)EXP6-NT6*D_17#\6$HC@+L#DP@ M4](3*64-+:$,>J?D0M`6,40/+W9,).0WD%0:83]3*331+"F`E[LQ1?0X7?"9 M3*R08POA22D,!-Z`)>D4<"\MQRZE7J1;Q-7?.[;T\08&/#\D&C)=EFD8,:#_ M-]^[DI*/D\YSJ>SB@VI73,K3/:EK[,,&TVJ&=1%QDC$%!*UX'O-[9J*TO;G6 MU"8X7)R;+^(HR[1`5D;OS!4E30A6A8R(9\DD)!N'#(4ZUWG@25\D^)%%5E=. M#S?V`'F'J,!J2]`A^>D7,P=A=DT\ZA34T_3)N]CA*>C7&M4ZFOD@(#MSC*.5 M1FUB/6)E3($VG*&1.Q#@83+F.OA3)C.`0*"U'8_P`+Q^KQ((H@%R&+((GJ8V=`%@8\#;2<@$&%)W8)L]3PGI(,T>H[IC46E'JQ^N8 M!!*6<17="^1E\T83TQ5F@E%BK?0'@M`!ZCWW)TFS!::>2J1I#F9'(EL%G##@ MGU^8N[R*9K9WA3"1Z4#.J\@3OI?VU="4QAHM%U3),C$%255!<=4Z*=*(;XU1_J:[EGQ+2=DHM<[1 M)^`4$W*=OO3A'^VY0JIO;CZ]5"O`Y+]WZT]2!4U]_>;3;>;MH=%3#X(R&*XE M?_/I;/^#33!M64M+E"GC\E/K>VCVSD=%FITD-)R2=7^XT8,XEO"/ASRG2%:T M\81AD+`\%BF0V-A.CD")+&]7[LFJ=&AX]H)?IL1M>8P*]4` MD:)6HN`X@9)HN$DWXY;)C/(#+SD3%`7HZ(A4O\3:LB*TE1+/8)I5`6VS3+:* MA*0T&?HO\7"KCAS7"04C7=A1PE3E*UR`1NLN%WEE7:H(G32):,=?S)N:K"P` MN+--E[:5#JA93BBWAN3Z,!F5;%59A9KL5>H&;M:HI[BIBL:\C@G@C^GOZ.CA MP41KBD#C8GNJ8B,R"?,CY^J-KO]74;YI]@XC9SKMO`CZ2TJ-C;$Y;>#81-IS M!C/9/V04';R]*;F+KD)RC+CLGK2R.X?;1>W[@/';D%??F*6!`G"3_2!*C:2U M14+A(U&0IT0G]VM2#@Z-SW)$6/;4^8J\+T@T M+IOBBDEQ_4%U;6Y)%\5':KVEREHD!,GR4M+=8?,0<.&+9PNZ2G@I M&/X#6MOQ.U=7BQ6M47[ZKB.=^9Q&R*"7'8E3_->%\Y3-<^JM%C>1UYV,%/LE) MD^"K.7O:`4<)VMW0EZ($7;-,=.&-NC,"<`9$3P.M'(9Z3U`%[\N"$><$GW-TN M7N3RG\UCDD&W41P,\!>9>CESI?*45$=1X8.!C9E0R]2G)KH&23,(P:$&8,,U MXJ&#&@ECG!*&#/)Z`@)7&HHUH8Q-8G(8*-(:@3.W1Y)C9"MXXHJ\ZDC5;M9^ MYB6AE5)1SWJ&WNETB!J?#?EG*E&5N&9E5@[7EWD=EL(%G,YAMZI3J4-`T9AG MQ[SB98J?7,!%!@F3%`F<_I+DDH!ERJ:J\:>\2+LK"%92GSH4$#'"D"D>*JQ6 M8^[GI;?24"-98U7?-^B@MJTYN3&9<@(_HR+:)!;;&,ECL^LMR:9D82HE"V>Z MFF.Z3"*!DN!YZ?)*4C/Y*#9W50E/#A\377#DT1ET.[JVXC)3=R]7+7RE3+`Q M_U6(($)J27(P>5PBOHBR".B3C,?-1[P&HHP)YO'V_+<[%CVBDK%-6+[C6"908GD-^,T5E&8\KFQ!>"-7";"5!G/C*""_+M7 MA?2DE!I.5[+FJ\M"+\1/"JI(K$J\#CO@A#8*9=EK[4]2Y!,CEDZU,M=RCT4X M)CSAA#-I<9C$8YYZL+X0;A]P5F-_.3A)#(C&8T"X7IG$@%#"%0GHO$]52`Q_'H'"9!O3@BI3(J"2R8/6'GAZF$PB4N:-:. MUA0()5F(KW=3P(N?!?U5SB%+#QA-A[N?+(73Y<0G)!#(T8Q2F6#%%`3(#WUJ M([I3\T"1GRD$1(>->6R**9E9+"85.>]CAP<:^+**=EJ;5R`6X[23J$4>-)AX M'BAU*LF<>?OQ$Y<"6,A9*5S7MHLTOQ*A(V-[0_'$,NWR0FE:_)[/"A=)#GR& M08AX\.1'-;$F$,E_?J9J9SZ`.4[R37YQGTJX8A/TI$ZVFJ*C^L;-C&\\? MI7^\*ND`^WE>O2.[]1-TA=/J75J]C!Y.&_RL.3+U;%Y``4^U4OY_D]-:L+2< MP$(1`KC9A_U1_L%EI#1@DW.C&7-%\@)U-0I3-DIE_"E^)W#"]!K8!@,,*<09 M],Z0?66*Q657;V;14"BUN=/KU]K;J4RR3#W>:38??U<&(^JB[T8:*)AP5\D7 MLHM1[@3X*RU=L2U:,Z0`6#8)5R++LQ&PZ>.8Z)S9;CM,^;T2H+-=Q>>6W%WF MVR9H`I79:8%(]$B3>X MVH#&=7PD"5IJ#T-,1F-8L8AWUUTOMD.!U3+D,4UTB0+B7TOQ--=O%04T@S7$ MEKI&W@%,"^TY0B"0D?-@.;,C#A6FI,-#P19"L"JX0-I]^.1<)1C.MGRAP22H M+#4>"5A1"Q0EX,^X.OLKN?8<`I6I"VD-K%#&8A&UDE*:"B$]W>SW]9[%8U%[ M>J:*C;)@4)$O^>AW2BVRXA'=2;N\-P86I+XG9(T9'6\9#+U MCGB)E2.O/HUGF$!]]2L+(KQW>0=FV15+=,&2=7J$14;-D9:9A)1K*"3:Q]3$ MP@3[X-VS'GRL'ES5?,1Z0>S@*-)P M4%PF5ZB(V@L'@TND\4SI2@9BTEWH!W>JX5I8K7@RZQ1H/LPB\BG92M[@*?U# MJH9I*M`>B587<3U\5E5LP;TH8#E)K)J)(3+8HQ;EY>SGGS*"&ULB!J!< M//K!%[KKN+&%?&8)1KDA.7TN,63;ZMTYJR0RA9]:AB"K7R%*D40<;6_?P=>M(UXX?D#L6J+6MS^G<80"Z< M7[1.\:+U`P>?UR=P\;ODGL[%':\Q(-V:9*7>W-7I+)FLP.A/P$PE1="%GE`% MOP(Q5(&C8^.6%MG`M6V_,$6&8],LADUISUA'8^C,038(-GE/U["H"^<1GU-Z M[Y1C(-51;E-6-F6I:\PA3C\!`78<8?PMY"R8+(QJAN\J%W;"K+(H MF#Y_622L$/$GPG5Q1&NO4G-C66--1`[61\J'5MJ^BG3R3`7A?'8H_>&""<,$ M^(2EH8OJ_A++.WW.)*M%O-([LJ0I5O%$ZSMMJKZ+)$`\C3>R1YON]/R-6_W6 MR`]V4)U1'IE1T5J*,%/H3M-D@`*STK]7XK?2Y11)!^#VBO&J6>[D:.#Q7"23 M__T[WKGN.PF(Z)XU;'X/S$U=3O)[XKGK;5+V[0NXO:UE?J>_FS`=&LX::>HK MK2W3!_"HJ4]LZJ]8>@'GM.+!CWYGJ(\LJSYXZNP\N(E*MS6..HM=N6KILWY,U,M!M_>&%=KCEL6= M=WO3,64/8 M`$50$J]PQ@V"IPS'.>8.G1$U_+FEVERK$M>J$B?JVD4KBZUZW*K'%R!NMYAH M5>)F[D>+B58EKE_)&PV[NM7KMXIQ"9R9NM7MZCWC.%@KKR"?HHS&P>W0DD[6 MFWM>MPI,J\"T"DRKP+3"48N)5H%I_'ZTF&@5F",H,(8^Z):+G#A#_65?,M^. MNVZOHQO]IZ/&U*2\[.]YDSV!E"Y$5$YQ@P*D>N-LS;4CK";.TSS78KH-2N ME&?]BU)7/%-#C3LN$4`L,F]5FMJ:MI13)$1`LQ;FO#DVN0)OJI.S08[\L=9) M=_I<:P=CW3RQ(B-49H_X]IM]+!+52CS#_%OMI:CS!B3^3]N+L62DH+LFW>A[ M"D&#IEDD*U:TUJ$4)'7%WP)P%[GB]R_8)B1;'E#6`-B"E(*#%R(`<:[D4/0Z M#JA1$S^1#%R%.E-FHHWJSG-#M_HH_I63G0LB[(>36XX4+K!V_YQ&52UYXJOQ MU;0R^LHEO8>GX8*N[?;2;LZE?3+MN[VRS_3*MGI#O6N6HYCVPC[AA5W>-EG# M?=WXN_E5MD+NIJSV;&VLB3.A6HFB0C]^)2PBA:K%8%FL3$*V:@\Y8Z/86^PO MM]7,@SVP"N>*GV>QHDV-167/ODS?=:6Y,A)%;I4_;G5-"IY.G)!*45%%%*K$ MGS7K+NPE[^/'36BVIXPJWZ5Z4FI1U\\YQ$W=:FW>.Y#ZX`;,GCA8WP3+9$UD M%H9:CV4,V^[`Z$[X)>T%D$Z?*6=%=2%6UI:'-_DZ[XDA)LV.!-#Y=]2J4P(B M"DMX]YL6Z0/?A&=XR=T$H0C#,Z-_/=1@&%<8.E/X$]1B101O!0AX$MX'5#G#4Z1G;:F"+59?JN_."T<@F4%]$T8USBO5F/.H>_]^/ M<7AU;]N+G]X'][8G^K3?)B/`'S?>Y(/2T^/]-*D@^"D9\14<$M='O@Y/?TK- M\BFZ/V#C9+C-/@,5O73]\9>?O_WF_^3<5+<6NY.P('P-.G"TQ.X7Z:#)2Z06 MPQ\?V?3OW]WRS_]^\Z_7_[:,*S@05W@.OONYREU[;OZ@<9!2I-5]#=5^";WW MM%_MI68.=%&*YY&M=C7_$`<@O@#?N$G:F2/'_LCN'2QV2C+,1Q0N0^4)JG7^ M#JN*NI[V`7BQ=BO*=KX!H5S7WKV[U9XKE4+??;A5BH/^D'1(AN]YRUGBC0L) M2KS`/Y]9ALI_L9*-K(9.Z7_3U8ZA.$"F["FOI"@NQ`T+?60*!`&M6A1K%;7& M)53DK`2`K[7?J9'UFEIZ:N6V=<'HV%2QSUO.<`$GE%S1OB/5^%1 M.P@K1;-55!E61Q\8(SDPOY&28NB\:"Y>+-9UIY]6^>9B+!XZJD;+GQ*TTN>T MHMQ?V)^87[L+<,`JC*4--R";0ELAVKP*M>CI7>`EGN=+GI[.`_W1##8MA&;F?!='(Y&^FC4O];^E!$*,^49N@[]X`NU-!5\!7>0 M]V[!KI$!MF&+Z,`O_#"3_+L;89>RB^V48[%Z MRI>R\_"(#E'9-@\LH@>JO6U32Y^`OB$)B;Z@*\7W0,]!A065C8F]_%LHVM4+ MJKK6Q(UFZ2EQ)E-S,L*5KL^?*PH5%D=4&>:E@`_$M#N<%G#7#`'&^D%3'`L- M$^]KDF[^&8-H;1B*>(/W,G6]Y_W"\DA1E4R2;[/R"1+C1Q_V%TGS5S;Y%`?W MZV+-)^:Z,MZ=OZG+QE4HOWOW]GW:)`X6$4_AIHSQ^IV@<(4]-DG/P[`IVZ6+ M&B1\%VXIB0-=58'TYRI=A]@,YD`NYG%3'`J:CK# M$0FWR20>4_ENV64]>29=KEBFNJD?Q(L9@@`N:KM4EU)VY4I7*GAB,<"I,^8. MT"4$>;.:Z:RBH+5H;D3=R[(#)[T@N37`'L\<1H(D+QII\KX[UW!0*OJ+1A$RY--!QMX&PTY/N](D[]84YAVN=:=(1@YX M&]F(K'1HM\P%AVY9X4"BKAO/Z2!Z[O('M9U;TLAJO0XG[]$D3I0B4;]0NJZ& MJPN^6NG,(1KUJ%5;-?_N/Z*=KNP(4A"8%Z+^_!I&$/$^VO!OUY7LQO$`@+G`%[;A\L319]Q2SNO^TL:2682W8;*IS0/^F5HW M9`-=$7F8LR%/MC[^9X6U":6.S(]P7XQMT.-XO+4RGB8/3M/R8D,.0'O7A^;@`D,.UD&[A9/MSQG&/X?1:1S(U24G M&;V!WAF4V[@&I2BM@_(9'5CH23KWG>F-]'ZWVX"-V>,8%8W3\?T)]GQO@W)R M9AJ80[UO#.N(R3GZ<=V)N?W/X"&G[H"CWZR'28S`54QJG)_8)M5L?-U'`JU,64(_# M:`:T>C\C&W*JM4ZREBZ/16C8O[#8`^HSEXG=3II1KVMC"M*C3'X=F@U]#YWL MK7)VM"CP)'9DKUZ;.;SD$S=/DK^,$)II1+E+G]LG^[OR)3PK"O=VU:]RN*1O MO%,]7NNX@JM>_NV&1)%=V*A*%*U3IJV<5E3!8'_P4:&2BB[$%DV9JRM1/+"V/9]QK>:">1-7)$@2][)6&CX M*F#H3Q(A*7/'1>>"QT2_QD<_=B<:")3W]\(%)'P4/!B)NQ)7@+3GU+(W:6'' M?5LI=.C@@/201Y(F]CMR9/>Z^ MI%\-\8>.:%]PEY>[5%R_LD=>(FT#40"GYE&P6C@&325V62MXGZ_@#:?#.J;` M?6`QI#H$9*NG6R/S:4K'L/W=:J2>0^R#1]_,BQ!@8>]Z[=Z=Z:D[5(INULZ9 M?=TT1T_EU`TN:N\L?30XFL9_PD-'^67V-&)!:_K)H^N!;O:>QL5)EI_6UK/- MUM.W]+ZU4S'(_?IDOK\T0:%8KH&:G?!6QH\U(R>A^T-N!X?:/LGE.UMJ<3;> M*J(L@EO8PFC-77B"<@EY9HE1K_'-)1K23J&_L4%]5;Q.-1;N9,&5M%S8IT*X M^?V&IAZ%+!5[;\XNP>08<^002#+OQHFKE?CWL0[MC8]VWRK;-Z/^?3L/D?2.1![#\WR'+WB-5IW6>RHG/0NC_:CTD=EL-)[J)U+GUD MC$`'WQFG4]%!N%@T]@U3'W5VLOZ+X.M_^L$7]-)2$8BPH@/6$,-D5Q^-#+UC M'6J4.K-EFWIOV-<[W4.MS.=P.R3Y>_>^/ZE.(KDDN^Q`MWH=W3K&*;A$]/5T MHS/0N[NC7T]W'5P,YS*ZNMGOP/U[A)"")JU[I%N=OFYUAT^`8W]DV$6(%T;P M[[!(10@ZCLB%:GGW6J,.`V1Z8U38DU+5S#^T^Y&W'T.SK_>M8N?T>+MQ'JI& MC@E)YS4&J^'VEZJ/6KK1-?2N>:A"^L3Q.-2[@Y$^,(XFR)WPDOW-]Z[&-5AL M#Q::ZA793@G>>?#@4^K+I^`K#9`9#-VTAKII'C'4MMV.+;J6V=%[W7,.$M[& MX:L2J%I*:@_VF6W'D0_VZ0-0:_'%KVSDH^--_$?%DBL!AQ_"/P%<)[E!RQ;?>--L([Z`M.J MFQ&`W#MR`+)$!Z4E)[C0M=]8E&(YL\)3M",XT[I1H@C3.M M!3$?;7V"YQY[KW+K,-:\@?L$O!Z^P68V"+DIR'B"&V`T`!FYQVU/]2:[!B73 MX"#07\:..UEI!)T[TZ$3E62Y:R6Q#Q>L=TVY4KRB<^"DAM[O6;K9MXZ_W@*X M;G?U,\L06LTK;'=L1VF& MWFB@=P>;!8\CK;`^J:/:!6`/X!B[,+*661Q(>H8)]U*G.>MK]VO[?HU,W1KT M3KV^N@2'FMA$Z$^C1SM@+=7M3W5FI]^<];7[M3VWR!SJG5[WU.L[CCB1](<[ M*.(J#CQ'Z:?W%3]O-FVT]+==UQUT="/3<:?E%\W>+T/OGGZ_CB%55,(MWC$[ M9-CK%1L2!_X#%EK'!R-('O3.6+[[]YLGMF=4;Z.;9\(RJ9(S*/4!_ ML)DS=K>(&DUWP!V%>O?H`W@(1(,AIGJ6(.W6,_LT"*/?7,(X&^%)-N0)6Z/M MWM&3O8&I#\W-D2*-%YB>V(X-]"ZP#J-S+H;;QHI+[U@8_J39XW$\CUWJ-C1A MBX!AYR'9V*N]*YMQ5S[OZI8UT$>],D1?^4;]T-)$DVC"TON@ZX_ZC:*)ND2G MC8!?8B3LX>2Z.2SKR%3:TTVKJP_[@T8*^BU)G(`D+'TPZ.I&MTRDQ$ETOS0= M"O\ZYS0:['Z('GS;6P)"[1">'P/KM1TO#?O1@#VS0!O;"P>52O[8M?;&#[2I MX]G>&%MT!FR!W0R]>VPXOO!#G&?N>,X\GO,WL"TF6?#A41`JJ;NF+SM<,OAZ M9C\P[8XQ3\X$['MRK=WD=Z'4>9-&`?K,QF''2*X3[5FO.]+[G:X&-TL8RN%A M14HN%#H@G_7[^G#8Q^$WR;H96,5`N=C8L#MG2!&_PMY'#+>5NVEA8VTG"#7V M=<&\D!(&MXM-Z$6SG<;FL9YW.XS6>VI@)*TO]F51^JJJ"`EQ9<`9!)HA! MHI"W/X&>4TU!`6$_K7(M37++.(?]?!0HZC+XJ%V'.AVMK*>OL;%2YC8ZF2G?X7M:=0U5`-S0XH^!L+QE:-SW8'UG<`]++^ MYD;7^^&S^6S\1M'N[3F:*?Z;>K(.Y>2-J4-VJ.FN]9^G=X<:B4B?8U:HEC:J!_XU%I62*ED8/A+1'"7P[)(UJ1.AV$S:& M\?7ZNK&Y[W5U&D19R:)NK:I,1>WS!:OI3/?F_AZMB1'+B'S2Q_#3X;RA"=I" MY8=VT-5'1JV,\W)Q!W+1EGXH+;\[;[":SN]>A_#$FHI;(;]K":$]I8T'J^FG MU.P8ATC$S=[MB[S5#Y:(FF\?!:+DD]N[&[?DN13)LD3\LG/,Q8P>QJQX!))-`41A/.+2(>0BW/3Q>&6 MADX882I:I&9+-#3IH>U=5579D[9WU8%[U?3T[+9WU>5MP&7WKMK8(>?@;E8W MX[]B)W3(+XU"#&`*T\OE1;C-GRB!-6T?_`&.K#MJO-V>Q7OS/41];) M&Y;5)[@<`NZ?]CT+?P2V,'?"$)@"EFP@JTQ+;?O-:.@=P])'G5%S5MCNV(X= M,XK:^VC&`JPF1;*&B+UMR\Y7!E`UC&G0TWNC,GT@6[O* M4Z&-+EQ:YO"DA5-/(#FU-53/LV"FB>GU>F?4S(*9+4F<@"0L?=`W=7.+C;HA M+"S/@;ZG1UQUJK_SO?O/+)B_8G?1*5WFPZ.XS'&U5Q$L5\/U$EK):&_@RL1Z#&_?OM6U=^]NM>=\24/3[+S@SR1? M&"]^@(DPINUN*=^G*8`F@;2T/VS794OMI>U]R0SSZ8^7ZAB:C9#(NJ8/SH1I MMO;,Z&ESQW7)*0*K<")M:H_)'X(JSGBFV1@,`*_%5#(2^$G@/VK/!LE;"$F\ MH`JU\`<<9;1JVJ[V;)@\XI##QU%#JQY MB0O'H?PXD+5W<:E820/K:]JX+-SX,-("S/.&1]^]??G^H[9P`56#Z][W.@[X M'U@U(4?\.G5]/TC>L+[G@P(5VH['\-,#5K^%R>YL7$Z\H+J4\&7,$#DLQ)Z$ MX;7VD8F*QK2(!!3?`\BQFB<%*]\G=5.!\8^2<2=%O9)L; M^"`_[G!N?/4O-4ZV/3[/VHA\ M%)@X#9V;3Q#?+YAYWO\0\+S-S@XL&^\"NTZEG3D=1,V MI;$](Y$KHD(S5#.ZAZM7#I6LF.2FWD8=:SPP!*W4?ZE4?`&Z!;A M_R9<$WR6+-K2F]J&KU!H^I['M\%\L$PXEO8]1]B4,+.=JF6N@SM2R@5T&]\+[^6;XH[5%ZM*R\1P3TRX,=89YI>!Y4!CB,]#(!D M5Z)R\R*'?`>SC_+N;\GL-S'N3'@M,,6B?+Q:D57+.US'%V'SP7#7`YNOZ/-/ MFH>5L5UABYG:<+*6/Y52Q_B;CPP5RV2XY'[(;ECV@L@(U;9VRS=^A4_`SJ>" M,9)!CH2+A]1!B4Y[9G92=HY*BROY4'(!S&UQ``6+66$NZ77`^?EXYC#>&!J/ MBNQ<(:4UG\Z^\\"PK+J#W,A?DWLL?F3X]41\)=S%5X"T#:L(;S&N.\!;DK7E M,I;`7]HN'"1Z?`!,1K`2+CD^Z_;T#IIX.AU\PF-`);:+F\TAN>;W5?(]'F'V M%4O*X]?JV\B,&>!+LA1BRB`3:DMF!Z$")9:PQP?(%H%P`A>)@_$,VRE$$E/4 M&$)`GJ#*CK#T"#`9NB*8IERT_`X62YL(]"@#XWC$!OG[\"/?L$1.UI5IE+EE M3Q%E$YTR"@5_CXG2*1(W:O)9<\]A)(G8C+A38 M@(>[2)LX(3%@`C_=]B3VC?9KH%M=0^^9'0Y7]L5'H'Q$JRCOPHDHP8KLG9%` M%N(AH-WE9TT`23B*0ZK$CTN?3OD124>:LVCF3X3\M@9F`L48K@+1I.,9G*+A MFJ"V&;0H#S`Y58K%0E!^D%UEYO:$B1X@NGRNV,@V.A\/1/07\>1 MBS?F)!ZSS`#)TG/NLY-=&2P%7PUZ*9S2T` M"R%NY4BWG.$^<@RE-]_*1.^#.^=7;'FT&\]&>3P;NI5>)"N87L'G%O"-S>!+ MNUJB'6[2#)_BT4FGS0KH*(O#'N(%G@C;.7O7490JV4@E)6?!01/U+BM;E5'O M,QN8[;*T?GBRRL8"U!PR4,9"4,BL"<6/1S_X@F/)%DT(W#WS2)\:^P'H/'@' MR_9A.\CDZ-;L`V=(+?5T]L3Q#;=E?)URV:=O=2/@*)1*))XMWGYD_Q>*>?5V M]F_9PG*.VOZ&PW$P5BX?C>ER5O"9_I#MC5,%9H6[=/4H[!GSL8K\.ANID(51 MA-#BI;#B#_CVF\0CH*^KUK!G41S@52$M%!UCM"Y]YY-4D;85N]ZI$!$;D]Y7 M83AR*Q"S(TT#QT1LNQFY<%U5OP>%64>!,%H)1=U,@@N@^JH7-V4'TO>SK39< M!MAM]%:8((]0D&(G`1R^FB8MMZOW^WWX;V/AJH)`UW,_UDWFG_YXV=+XQ=.X MJ5N6A?\=B\9/R,C[UYW.]]SBH-"Y:B5#ISIS[P-[`@+?,Z.C#[I][@YV4RN^ M8F^0=EX]/1B)0L/]55;GA6KHOXL=%]\\F,B*JB95#72,(ER&WC7QOYVR7G4G M[,+0U^_JQO!H1[G\=74Y;/.(M-JD=0^/36-EKXO38KK>V4\)WIG(L"P,?])N MXR`@%P`/3[HH\?1YMZ<;5C&1N\)I-S8V/$\D&GK?,O71YMJ*)\+C.4C1KU2G M;"O'YI%77Q^.K,*W9*..Z47NAS&"P]XXIGDF5VK&(WQ<^JIP&85MZ@V@5Z.K M=X?`/SH;NQ>?2!%^HOO1QX:)NCDX5-?+'/@TL;3:"([Z8T0^JX$@&,AJ:V$\ MGZ,UV)\*0QA%K4WB).6`HDGR4^[,-I9D0RQ)10[TC;7VAH/OMS9_V^7<*YI2 M71B@BL;,J6685Z$PT:/JAK(.J7XSE+D;VMVRT,IVL;JMR]FN@3XR1O6!4V\, M2\%=VD:.9[%+O8X^'.2M(NTF=ZQ]JN\L]<]]EPQ]8';T_N#2C]/@W#>J#QO5 MU3M=HP$;5K/9ERE]XP;$J-U(' M(^STISKM8G3T8_WLT-.\XC.L_SAO5#'/,C5AN]K)DK[RTQ@4T#0Q+HG:**U] MMIIFM9HFSQA?J=177-G,??UP?;.:83>4SU\;>#`<)L',1P#VN+?[I@W>IGQ6 MN:N5;F7N8,.>57K[:MNSBH[HIEW;IHR>UZX9>J?7:V[Y9PVYS]JT^O347Y/U5U_UW9K\:LO7/M?4FU;N#06DJJ01Q MC3CRNQ39VL]\274V_ZA;^K!K5'36"ZJR:1G>W!JZ:I'=M`;O^^FMTDKI(Z^F M<>N'4?AI9@?L)=;]D25:3EF.=W3D#K:?L,W4%2U?NUUM-G54G;C>BC!QH+W^ M*\82$F\]S+C&&CT?7-O3GG^'9@7\^-T/LA88+P/!.W#9CW8P"=42$_XBHL8[ M6!9BP0*LS4B%\[+/\])2]X'MB;(M;+YP_25#P+"H0NQBN2<:>,(6C$PQ1&^! M/8[\`'[PIU-GS`(^$:_\XP>BF(4H/B&K,CC)FM2&853J`NTD.+M')@=>FM>. M:!9="QC5(<,)YCZ\CW4MOK"E"FLR,3ZEHS??'X]M;#VT!GJZIKNE0*4HC#3G MA3LXAE3\8>I,X(RCI.$9(0P6^2GSJ$1C6C9IVXJQ-AO@GCE4GB9],CM]=DNR M!3(_B:HR7=.\D3A^BYD^6-SMHZC:=NM/>/6TT;`/B.&%,9O8 M-;$?8QZ>C(6^)G/'P_(X(CN(2A>J"Z).3U'$F*P']M('^B([5I8BY$B!#=]) MF&E"62AMX3\R*BV7U#M+2@GQ6BY8;;4PVG%H]53PPBXL&#LAUF,$RN5E^KR8 MC&TP?HB,-E2KT5'Y+V5&6>&85TDBH.2092B"5@USR:(M@&?/APGAE7`*7U!% MU`"<6YEB5`*N@17#SVECC M["^"R1=EXIP`.>L7%FD/MALG_$1L%98J!/H#B,6TV;IX^)D@N-9&2=T?\2KB MR(ZCF1]0!;@40&*ZA,5HW11+5=)G]F2EKI"A]WHC?3@:)J,_V(Y+N$=&[81A MC!P8:(3_C%^L3RK80@H5\*DX@J?XXW2$07+'X@]X&OE4)8M`74X!^T]K_2>3 MTE[`=_Q[C_95%!,FLIU2# M*T52`4X_%I?I0U)@D4U=^)9J8:KE$<7KO.B9*`4(T$SA4L#*93>?;K6!,>3G M/.`7/OX6XV=^=:?^!!B"&"7@"(3/\!1!152DG#D@IN"E2\/A_0?RQ@2',Q114YAAE!4E< M">-<@4E0'#&^4/BIPAV1C5OW\*IS;>;M(O_W>D"_U>*1XA->1?Z")E6\&N6Z M`HMQI*Y.FEX5);4`L'S56\#)J3]?J-=Q);Q&\F;0@>6:`=2+D@YK2*[$'U3 M\P7>/4/CQ9K9Y$K6!$_+"9N=[VD2*IZZ@>U?'^*Z/N3@K)Z;G'UM#TB##LC6 M.0LPO=>2FM%4]!,2\,0GA6`&A`MZ$XK$0+@S4)[\8)GA];:W?A:(VU]Q.44J M^[)\98";Y"Y)C)7E);%X6'0UCJ/D_J$2K.$X<.[X:?X4V=.I)GI*X07V,G9= M!I^`A@99A6T5H*WG<0WT_O5`B&*J8+;]@!9+7MJ1RZ"?WT^]^7H.\3 M7$"MY'891/\*=0<@+NU?*'-QR6TBOR,Y3-$D,LHM&O+D?8-W!S\FMFRED@RR ML)?8HH6>P=+=(%9M"&)+E.B#J/K<(@)OL-@^GGUNZD&T9NR)O-8S8JZP2O9T MD\WJ*5Q4O>>Z#N3R&/XKQW@<8K;=]PV33SW6OAUTGA_H`.GA;I52,]`?&- M[029)_Y`>VWZNQVEGW]!LUCFX5>@3+2;TS*3QM!URTQ:9M*L?@RFF5L&X;W2 M4]2.TC:XN_7YLR\HH0_-H3XR]D[NV1/0HZ.O9.3H=JR9UUO3@UJ$K27_7G?* MI?V>(<+J.:"6/NQA1>]M^887@;Z*Z'C$ZYZ^&2D6'J9A_.2WM6%&EUU")# MD0S.MH+4.BC2JG+V-]QS:Z1;N478RL#SP[FC`<2P;3G53^NH=JZM%AG)`1D, M>OK0.O2>/_L3`OR[QL)R9X:,SG5_6^F,2ZRR=XM94ZZ+,4D!QB!AWM,6%#S= M>GO/#=V$2[6LTE@08=OX2)4XKZ,@X-9#5G!X\WIK\9-ZP7X*".Z4E=.;BN!J M#G.O,RBMT[9'N>!1[FZ+DSL?2FLJ@HUKLYS8VO2:KSL=R$JH\[F+F#W=[/?U M7LFF`\T3N@\OA'O=*<.^NN\F08HZ[>&SUYJC"N^T\> M!YWK?HV.EP,REL^W-E"$E5,UQXL"QPN=<5J(1Y8%DD74J#X59<=B"N@S[A85 MY?+N[P-V3\55-H_CJYKHAKQ;!P;N#BR]:_0+C*R6C4OJ(!89^2;_(:JQ%S#M M$?_'U`<=-%1WM=C#`EEHUQ=S4/G%-'U>D^GS2B$C4>6*5XB1)=Z>&=?&$,O$ MB)%V`@)`>[Z6*1L6\&*K6,C"\R5@HEH2EN%8LD@I*?9DJUZ]H1)@6)4'J_#@ MOX^,:M;Q'2E<.Q-?5XIQ4O4$F]<6H;((Z6\K8V(A4*IA0M5,B6*P`D.OT[OJ M=:ZU6_X>G@59"$Y66>`0KE7GR@*R6L5(YL)'6ZI]K1:(#"65SJG:$2\Y1[2: MK=^9PDV8@IF5FG5)D4=BT^ZSPL3>PQPA+?`@2(]=T%TV->]P<#O7?P MUJQ[H>L\)P4]C'^0X+]E9<<(%#AZK($U,$MOZ-ZQ!LWQU.Z\[<[B.`XLJ_1- M5I?YYF)4C7Q](E2*]5-Q;Z&E80UU`M1LI;;6FZI>.!2U>X\;)I@ MAS.I>JKZ*AHTNN9`'PP'I!<^`V%ET(.[<%BR4CEVS@BQ9!N`Y2ZW&T6$N2HM MGIYC#=F$DW7S"%F%>GU3[YNFU&W5PNAW;$W5G6)9-%J7HN*F370.[)&#[7;N M?(_]]!X-0+S'RF?LM&!3"XV3-M,Q.D?NIO.G'9`-YJF:$F["T!\[1-]D/R+[ M#<..'MI?L1U$O!$(U?I?!+S=S`(89=(Z0.TVH6L6G,U!=Z`]"JSR,;,=,D(- M?KK'0TXE])^9UZ,>GH-GUG7/Y&91T0U"U+9>V'CC.0MA&Y-#BX=HADS/"]E$ MP@ES0*;Q\;RA6H`V*+RYD>SAP"]LAVQ18WOA(`/@EBLG6#5VK?;?>&8!XS"' MO4Q;D5PXU?GH9I=X'_A?IIX>'[ M3^RMG+Z;^!Z;#9E=(2NE)X]FN1<<$Q__^/X3D4K(5C@HC,UQ.#3-S@N2*$"V M"AGV9U3;T+ M%\-6=+WFV:YE.:G7I30O#;+I=R=1TC&6U*V MS]W1V!L-]>&PQO(C9X8/HQFU6/9BW@6]]T6JC3WA@BMFMZL/NN7JSC:L1L-Y M8=RX[M6"[<;<%!,"AS[`S+TKN#;K['/.M(=((P6@M[(1>VI[YN="U] MD,'4YO=-[B?GIT\NX=V'6W[6TE,8`7.\9TGX"`SK7$T<-R8DC%T;>U.+:7QX MU%&6H=GW`2-?+:>(+-'AAL!9QI2K4*#8O^/[L%3R&R7J[0D>!'+\BD/,TQWC MR)6I6LHFI%/SK+4T.`"##0)FN^3HO;<=CWM-=:O?T>%,*GY2B@(B[C%#GW." MS+6T,CEG#D4MB=JXV_?W),@!C]HJV:00ZRA3H/>79^[-')=E'G0RV:1Z7JA' M$N$!G,_C@7R3>*Q$+JT\!:!,8V*,87P7LK]B1#.C`#PMM-T-42K^>M0*K-]E M%.@RLPE2UW^D1=O>=CAA*V%%T9:-O$3?J_7^EFG M#8.;W*BVS9BKTD/3SYWF7TDR9>NC.;ZC(7]/5*6Q"?Z&=JLV^H3:CLW[(ZX1 M#9N/XDO[0XJ$2JAI1CQZGD@[V\R&1W4-Y:&W,E=1WN#&M5FN8F4IT`_SO55R M03*R$C'(MDGDC=Z[- M0XH\Y@WY_7%%VB;@T#JTA.PZSHY=1R+/+2AS^5@PO_1S@$.@JB@'*:PVYB#. MNAY:/,N1H,2AY!3'QL5%GK48Z7-]&6#G-/$*UR9-;< M'KH&8/*D6E>.IN6[=D36]4LG_\$AIIS$.4]?-1C_8[J2YI"Q&@ST69Y`]M\5SL-OH1@NX M"H$&^"KVY)Y'F?!@&^;ZW*I1LX#UM[DX/BY6B^"Q:'W_2I=U')NPN6HORX?S MI>U25(6:;+';5EEP\(J-E15-LLMLF3^-H?"6,-2E"VH">FUH7D3 M8D<]O3LH5TW_`'!/J##GP_HJ%4]6XJV*"L>54D*-9Z[(.>,A8R>!N$HL5HJW M?$SQ<+U:H3JVT7A?027O"+%*LE".)+542\B'9DWD3WU5BM1J1>T)Y M>Y,[V7/3-/51MX+RJ[G#'[?.;CE)=8].8Y=T0^K][@CNR`.289[.';F7U)X/ M5T&SV__]6*AD*-86E65*;_WYW*%0\O#&FV#]4#BCS!L[+$PKF)ZTV*AQY&*C M"D;(`I?!23,L<54A%\>ZPP_O%RRP*=#_';-#L8/&_/QD<2*Q,&3WZ MFC^=8KBYJ,>(!F!>I-'SO:LQ%O(EG>O"T+TL: M>D>4GD&5)RF%A.+5T<8,ZT,O)]QB/-"=AN>UUVS/I_ITD5JFD@;$7X$;)%4D M=6Q\E`S.:U5BK@/EPP1L&H>VBQ7X,-L"\QQ28-(LLERP$HAXH@.M,ET<#2/P MD4G0R2)U*5!J:W/8I]E5Y%_1![7*X;7VAB=FS!W/F<=S$"EXU>3$H.X!2&E1 M:WY^J8&6/<5LGPTMP?2TYF8HD:MK(A.#.P5V90V<]"`TSS!?>X>8_"8I2&^[ MS5?G6FFD2]V;.MCNSM%.3L$R*Y\3X?$@2^[1#+<[][J2HC:CT4`W^^7,_T>L:U/; M\?V,+6?.]?SJYJBK]X]V@LMUS;XU"C)-'@YC\/:)&6FS+8#3G/FPRBPD3:NL$2$-F?1S)_(L@M2GTXZ'@4X M(O6!2,K_DUU!]M](:UE(&P%UIQ:&LHB_KY2=:+#R7&_E!&E@>PNKF7O.%+@1 MV6);`]M[C*A,;3MJHS+'&[OQ!`,FYP[U/.)N5;2[X1$8`U?'6B5*U1D\/XY` M,4\V!2C].4,3$-8U":-L71M>P`,&F,1CF!K>!L@>J.^1XTVQP`L6!J+.'U?4 M,N)O(:72N2Z<#VQ'`Z\N&+62P#.%57Y\LNFE1C;L,08+B8.`*JTL-60`@0/O MCK'UUVK%F3`>S]2%*@N2-$.+3\:VQ^,@%D.K:U-"4VE,_P[VS4Y:D=/QQ6HS MV%.#*KOPTD``%]4<>=KG57(S:NM#_(L0F9`6D9%_9.";O/S=H M!J%H!\\W.=NX"S=KRG!2P:[ATW_BR3UA7<>]$#0>LBAR>6L7V2(H(::[)8V3 M-`$"0@QEHWGXGGM[D("`2,>P`KH!?!2;Q[/T35]]$^9&@@NI,R"`Z\FN=SI@ M=()G@3=.N*7;H>_(FX"/`Z1#G1S82&K!$H8,"9;JT,7 ME1^+\DMVM#:T*'$4Y(VNT?V9^Q)QB0E?#RV>S.7B`.![%%^Y"+`0#PR`$P18 M]"4?1^^HBUO_>TVZ`(%RM*_T#+X%Z7]A:)Q;.Y M"T.'/\?7<&I=;#`9.U%RV7QB]DWP1;OE';1T[=V[6]Y5,J)V=QXVRH.O?[7A MH9=PLOQPAA"P+W@(L#X72%U+48RKWQWJHY%UW>/=-,6E!4*>"TPGX(0MYN,N M%^,ZQ1O5&AO;7"X$CC,138_P[/[NT>WZ*2)?U"N']\K4;K%3DSS?K^T0%YS^ M"M]_8)X7+MT'VW-LZ6'A_?_PC&+50>_>ONS^AGL?[/U-CK MG\"3Z/I;08!XB+"#8_T>V3/1VXUD8KD/,.^#X\`F`/)8B/Y&7U#4#(^9;C?`TKBY9K>S!&)7@#UAG\I&8!#PV91.4 M=8'P!:F]`D3;,,UG]M4.4U;@B(9P#]3@UF%3VO")/8?SE8JVGV:PES#:/_Q' MD%#A-L5M!^$7WKGGOM8'7K"1A9@NFQQN<0FN$BKG9'@AANF%S.28;+YP_25C M&6J[`ZD`9,/ MA380[6G+>)G,8.S:SCQ!=[+9>+C65\ZWB$UADSCSDILIMXWX%6@2P"+A`,&< M$ZJ-XX1A(N6[?DBN:HF`U2V2W)9D%SI^U.5.E1JE\HW4)=,K>+5+"T1!>`M$ MKU]!<9&+3H3=A;U,E_B,&R@XRM7'%0$9M9'()VIBTVRI_7[]Z3IASNG; M5#V'*X+TU1V#T<6XO)PK<*$Y,3B:A-@:U^W%?%P+(7T;3P0)%1GH*&('GYQ@ M=5(*(I)V#JDJTJLYZCIVT5WX^,`=<&L\C?3@^BKD6=!S MJ>FWI9;HZS5K_5'7VY:P;$M8'@]QC2AA682V=Z)M+^]L7I?+PV=J#"B-2+G; M7EDT8R8I2XR'!X"6#\_8.T!TCTB-[0&DSP?ZP+#T84Q6;H3U!/?%PM4 M[+[>+5F>IXI]J2/FJAYV1VL^)$GK@'"<"EC\N2WIN+W\S.O>02FX_/U*>0<- MJ4W\&%2TFJ+N-D^QN7]?-2Q\([[*<.ZG@_1J^',)I)>NJG8NQAKJ::88I!(S M3=%DJ]86TVKUK2WF''>MM<6TMIC&&T`:!,HIV[?<8J`AW&U;EI\JFH?D.:R. M4D;[4;7J,F_GSURB_-T36'.=N5B2-4EAR#`I5'"="M]P#^:6)38YWZ9^[*!6J/9X&)8U@Y6B7RO.6C%N>7(I/6JD9.A/32TD\# MZ*?%>8//;!M)^+26U$82-C*H[3#^D7%$F(A3<\K!6?I/LKD81V M%`7.78";0T]7ON2[$AGNY3T=>,UN0G\T MTH=6A0TKMF6GG#FV#+W3,TO7U&Y`ME\94_P?MAMSX[5JZ>7#5^&VL^SSP8`S@K/?*Y5V>`U.^G6$);JK5N4+4NP24L]BW MH6GI_7Z-S.C,\-$$=WIM;#FEY3]Y)75-:<[]3A1)7Y[[%C[O];JZN56A>AHL MV=1[HV$%PM>IF7)![]MOOB>*`Z+Q;\YL-]0(F_@?+P6*]0+G2C>0PW3N6@P( MIW>-#BU]-#AV\Z(6\=&+$>@&O7+ML)L:3+(3,_VL=TXWU MD;9(/P/']%J]2L*5^7YFONTG?Y;GMGZ;O=(M$T7Q[:[;C% M&6ZB"AVT^]U'[5:8%7E?+P<1!WI3ZR/$>J3(MM9+S9:SS/V'#5"BL$W$.\\E MG<9VQ06.43ZK$?6$DBP)APHY`X*#LE=]Z`TC8&&)\(2R\V^OK';,EZR2NLF_J MUJA<"?JS8.%[9=U_9+P1,C;>CG@[SSE&/.P2[9^P\QUCABKH_'-F%M73(][L M]_51<\,>CF<%RA1<+&@+.BL6;>CF<*"/2IZR2[ZT`"-]2^^;31#'FG!MI1DP M-P4R8)XNSWR^WU$JB+#2_>F>#,[W.*Q[X[RM&%/-M!>WI`9R]`T2S6\LVE.> M>;ILIBT&=ODX/U[[D%&A^*:+8Y$7N*33>A`V,7C?*\??+VY;+G!)S33@HRPA MJE9Y]YKKA]Q'M?1A^O.WC!CZ"'0+J\ZJ`&>&DI'>'UCZ:&1=GFED%ZE_(HO] M(T_1/7_:MD9ZKUNC8^;,\-&$#//3=Q?B-.XOR-C7.J=VVHD[IJ4;H]8_=7S< M#[HC?="KQ>C7V+MIJX?**ROTGQ5[-N"JH.0#H>U,]"-82T5/`YP4[7U(Y[:DAK'T[>X MJ?86:IXPJ^GV]>ZHEL"MEK?GRF%]O5>R`FY3%9&GQPPO<$FG+LV927D?(L-/KGAJ%;-=2%/#%XE MBPO1["NV"-C8N0A2M;#T?^L634D6\&&5$[I/I\9OE=D+D7)!KOMTE0*S#SRL MG&&V]0M5HHT-=;.Y;J$V*/QI+:F!0>%%>T*OJF\MM\E+]Z[-UM:R^1VJ4FU6 MMU-J#N)P/D%.>8%+.C7S%P6.RX3R'N9D:0M/E]F7BGA^B_3:D'Y!;:AC%[[' M1ED!`S3]-VE&G7/@L4WTA"V8-T&W:[R`![$!-?OJA!'SQDS7_$"[9YYH5:WC M,/`V5:L2;;@<_LH"8/`G(5R+#+_P0P8[/5_X@1TLM8DSA:EQP%"SO0EO1+Z$SP8=PSG`\@\=<6%'`\$V0:%>7J0BU.F^# M!]3B3!#J9$9MR>P`?EX$_G\8%6R9QE$VF',!E&,24#LP=8 M'B%^GJYZXN.V^Y%VQUP'5JHY$6[<+E5W%Q!>;BB'`"N-233O($`T_`J8N5NJ3U+6ED&8(DD;1UQ!=XH[SMQPP(Q%X` MS7\E9N$B+D>ZU>_H_6&/!GEF`G+[([W;A\D#%B[@<#@/\&3:G'[[#.SKPL'N M!!'L-7"'&'@-S!0"Z46/C.%VF5VQ/LO44:*FM@.[01<#YXYSQOO_.[#A@+;Y M,YR5CVSJ!W,XFM2TTQ@-^SHV>K#GR*TGG!SL.>S<&!QG+F]1$;A`-$Y>(;A-G"=N8,\$CDH;^>EC9U@ M',]AXY#!7VNO'Z@Q!6PGC#RVXY#QEVQ>UU!<&!QTA'P=3A9R/J92/((21PXR M+!P"O_(]1KP;V88;3X!IWL4171_("26@D0]XTP#`V.5M]OQ'N,_"F;/0QKP; M'\!`O)28:*_S/>$9^);C(9[IBK#AQX")Z?A=Q[F8!&^-1],"PIB0NSXE\E5_ M3/%.DX2[`7;/G(,A1LQ.9X38\N/[&:V'.#_=L4!P>A:PI$GK'#^$45TG=(FG8,@DU`P@1L(.TQ2[Y>#,[GN,Z@1+UU__.7G;[_Y/_G--7L\7KK]D["7GJQ]` MX@N3]U`815T$^/3?O[OEG__]YE^O_VT95P#>%4+UW<]5(O:Y8?V@;-\1/DD$ M:`(#&J$@Q7!F=:28.:1*R,8^6@W$NCZG4`;_$X,<-%T>/.D-W:?_M+T8=1=. M7_"_CW!B'YT(=0Y^O]K:I[>_?GCW6GO[\0:)UM:Z'>/YEQ^`D",XP<1P4$FX M3E>A_7\@*#M3!X9@`K7\DB4I&:G<`3YDNSBQ9'A<@,96FGBS@:Q&$,0+8H+? MJX/CP<,)@3+IB@_C.[R4(P<$["4I!=/8=:]PQ>GTZ@"I``+GZP1EB`FX9^^ISZ@]C9![.U_A%O>B&8'-ET=;@'A$<)D7^("" MZ)%N$RDX)/N,C_TS!N$VCW^4X0L9?F*'LS>`DD\QL'VB"-M-6=`^O"33FTNT MTHK\Q4\E"5UVX9(F$^H*MD\7KMP#N&K;!`#S#9NB1GTGL8.7,?O(EZ\3,_IS MH[LM(BH/5GI/W1XMW1\D)-Q!#;<0)!.4Q_/#((I9CX[$(*N]S3.X&2,VIH@- M)\6&1F:-W1WHCKK\O!YVHZIZV-77K\[S'P-[\??O^+_[1D[M/8QZ0G9WG\N; MYE_`5M.I2%BK"^Q#FM'MBZ`"?L6]QZZV-6`>&-7U"6RWJL*.>7E@'-Y*\.DB M[L#6@]70]A%;XV6NZ$E&?,F]L)^"0_X"EW3J9!\2AYI'KYU_8&>&^%(7#+>LZ[;YNA#P>6;I2,4G[JW>XPP6*D#SKEJE:<1\.[ MO$.0&KL+ZTH'[&.=R3$UEE9K,7$A[5R1(VA@`T";XGO&2ZN1U6P@' MX[8P+`V$1O85+>EY]9H.7'6Y&XB'])L#?3`L%=-?.\WLL0Q#[P]Z>J=3*@>M M^6KMS?BOV`D=49_20^I18P!/F%M;4MBYO&OR8`1T>QW=Z-=8X._40MV?HG:P MYH0AMOA^=*(9-3`^TPTSS0ZH,N?>-ZP"-`QTJV2R;X-DNT+J"!`L!>/Z4XUW MKL0`G+LX=#P6AB`#)ESY3/?PR3-?4*\['?RO`61O1+X#!BN)C@0@2`3.`X]FEADN M2VT2,XRSXM)VPL'798ND??Y"Q86 M*#6CX;E7+3]S`71;D?U3E8A/VQ.F5>,:?[>I62 M4S%U/"!BQ[L_TST#Q1LS/CO[1=$&93L;8EX9:$UU:R ME7"/6;Y!R1$IF.NAYH=\Y+3]P0ZBY6>0*T+TL/I>F).FUJ:(;-CZ`B$AF121 MWEXI(F*G--HJ3=VK/6GQ-,D@=>3+_1(OM5O?_Z)K?AQH'X#6G8E,O+J=.6RJ MO?[*QC%9*]Y/I\Z8!?3^`Z.\$1ON##N8:',>F@XR]I^8&GKKV_"_G\E](I.` M0^TY7^,0Y-@7?]Y^_I3\:;SX@2;$(%<6N$L^P81/,'$"AM4XR))]`[\#Y7G: M*]^#/W.'OGF5&?E:^S6XIC52XK9(:&4.3>!A)ER:'D9S8*4/OJI0I"_CM\RA M/&/`#=QK,"8E$[JN]HL_F09LJ2N0ZIA4(ZJQ\($`+P`5K=%V0U]!8(@&HBA) M&41C$3`.L=A7GSCP8HX4[F?H,>XDT$HXX9;%:=2"&YZ_LD!,?DP?,E+L2)P9 M@QXA+Q_4I2"Z#\'S$0O?:1A4#:./A1 M#]:)SC-.@&_(.?#S5>C\E_$AA'->T"(>0LKNQBH)$3^M1"`3/%V9[-(_<1>= M^5T9W4X@1UAJ4X;0\-H1F.6)>QTX6.T%_H&%8;XH)LS;=_#NV`\C M=8K//,%>UC31[/O[@-W3IZ3:!*;!1@K[YIY96L8C$,"SGM&AO-6IJ,;`2Z'0 M!B`B<.T]LZ>/N-%Y)Y[D.*:>)/3N!R$BG``T]$$?YQ]N`]'0NP-3'_&FK\6! ME`4/2.;&N6?.(I1E1;0XE(N(0^W7$':7\T3\+N5A=(A@#&)SF-A\&,<+93"Y'6&.-156L+6%LV`NEE+`)`;1%HCX.R_-),?@A.(@1RB,Q_C-M;:*@9Q`$TH97BLIH'-PD,6O>Y#N;%>:A)YUC:$^,DWB MG?F7RW5F<];_*'RTSS*%=/<.O/>T?\:PV>9`HAX/RDMY\4F.'&KW:'RC.E2/ MMO/`Q059AH;H+*03(Q+7116*S$5PZT]X8J_O88DQ2MS'Q%7<97XS\\1VWW7Y M]1`]^LEXK]]GQK(GL1MIXYGC3@)>=^2.42PO7N0A3X[G]\@F:`!FA"+,IO$[ MH02%C.*\1@Q6U?&10]+U"R`#+J:)A)0624,QPO.]*QM$+="B$5LJ,'3.D*H7 M`7O`ZB?NYED4J*]7R$22+Q4=R)]*USXY+N[1&Y^*?;R)O8FNO?N@:^PK+X,S M2=8/,SNB3L$";MH9U?=*8-BR'.1N4`15A+D9G!MTKJ307D4!S#F,:8Z1U2Y"_'F M^@`*L(\)DQ47-B#Y#DNVI'4"HYD33'@]B(Q(E.K")?1:51W^%-^%L%LP!Z\A MU2J_52N__3WK(\A]$<6]#M%YFW&EU2$XOT^KB9@CNL@LDB$2W06ODD<[H*J1 M+HLB+-*2,+DWOC^A\_\JB.^UF\D<6"*5ED0M1U5.W[RZR:B]BH$4!1_@:&,V M09,35:3R*!44Q6@XV"BQD`P&0B>60T-.'S!B_LCOPM5J,G#LX':EHFU486VB M/7=^4&=`-N+,A;T+ES7V@X#7">2,%"MS>A$/5>!,X`6,L3X(QQ&,@*4&'QSV M*+5$)NI$TM@P$]ST44AC9`=1L"`Y.=7DP;*%SA1.&R]@.F?1S)_H_,TPI`I4 M&'?`32M9E>37BK(U=_=$)E?]-;)]5'$8=4R`_&$K!0P=(4Z3#MVJQ" M!`$Y=QPG#SFK3Y&=!2@7+Q6'J,IC;,*OL!1TU"=`"P]]SV,N*57T.,<5,/^_ M8E[_46CJ6*03C@4!"5JS%SJR@BK!L!'KH.(C3\,Z@FA("-@"^\9X]_RM-=CE M"N4%3`A.JN@509KS=8V*IGAFL#R2``+$=K:@NH0O""G/X14XY%\8T1-J8(&# ME956CM!K-P9A1'M$CXB;@Y&(2Y\.&XHLTR!$%F6L0!G#;`RIC8& MMC>G@EXI!?U*YRU@O`YELF(\)#!'F+(.E;H7LV7HC.$B@"]Y63$\0J!)8+4O MJL&92KE"\I=*]B-+:EO2NZ$D]WR]QB'.BF3.T9X:[8#8$S#XL16ZHF)=K$T3"M@2W.%1,DCH^)L$UZ*SRACW_D>^^FEB.)^1077%CC2 M!Q_`6NXA:5=I';C##Q(X38&.EGF7M9.I^HI2I.S3]\%Q45F/:M-[Y&*\$KX`N/W,@:8*5V M+B'1H:#ZO3ZJXUBZ=D*E!)V)`SQ7WS!^.NQO(+)-[.R@SU'UE/6CN75'89XK M'`08*/)!Y0$Y9=8I

WZX6,L+(\8A7]N,;BM;6HJXU!4P9#(AT!!IKUHX!IT? M*"-4N"RZG#RFU+(7=OW[P'^,9KD` MC`=V:-,XY%1]A_?(1,CQ8W\ M5]!=U]<9:;,.^&7&+`TPWKV"!W5N.."=ASXXA51 M2SOMDX"C?P%17$&A@(Y>R%I-&B.[U<[C2X9"2U`!?D>Y% M;2I4XO_B^8]D#DL*ELX8*!'+!>DC4ANDRQE$F[DS#OP[[CJ%A]%3[(5\JX!M M+2)5@^2URAWTV3XX@>_)O@V"`:9L@/L3A7\$*!R'S%T"BCNR[/2*QJ2>C=Q# M]A1IYL93:L.'[)ZD+5A:)T\A[PYM@5;(E;/C!" M@-L94GDW'2!#H&,*84@'FX`Z2I0ZM[\@;_3I0_(US'+GQQ@@('S&W"U`?'@L MQ7"J@"L60X1'74'HVA6R,-YC7++G?L^E^@-0#OGX.8]%FDZ;A9`O+)(5M,G* M&X;96O5"U.3D_>B3J1>>QY+Y'C<=)]E^E&P=TKK%V4KO-=$T@"1Q>7QAIG_X MC]B-19?Y*/B2,Y>Z-K5J\1(GL7@=;T9X(-OC@EL0Z)PBXQ;X>I*<4]F]OX4) M"JEY3R`L3["!SH(<*(G.&]HNIP#.CW`'J:F#8#ORMM93[I1N*5GU,-"=DXZ4 M:O#2)6U0W2A2[2)1EGGFW,]<^9V3&`(#>^%,\'ODK##7M?8),$2&.?0HL/', MXW2%^M[D@<0X7>7#8T`E4'20L0+ILIPT_!E@T?Y4U11S)R()R0J(Y+&]2'H" MT>O)W&2LBUV\!S!Y$*TS(!R1TR:#_S7&DCE>\(!R?'"X._0'\1`8U"J!4Y!G MFRZ0N0A:HI7(7DH!UVZG.N<(BE61PIGXK/2[/??Q:*H=AW0>DL3[3)`KS"') MBAQEPJ=#[,N?,)#:TY8[-&V*/!2?%/S?8WP&78#2>,P]K0$)8(Z+["AK.,!3 MC?$^6!V<:[697>9CYUYT;^(`5Z1GD:6T7^+R*`\"$$CF<0.>W#OJ68*M4T0, ME=B1C-Y<4"56/50O;6"'[Z@2?[8Y2C2&WW&#>P'EN:I)5WABC5/>"O.0 M],J*$T-1,+LUYE0+#("LT,Y-=F5NC9;V9C&>267I)2IS[2W%B"';7\+#JJ9< M2_CHA%]NJ=$.?MJ#9NH*_J+]RX`:*ON:V6OZB@(]:2$:KJ28S>8(L7+'O):S M<2'2&L--TL2SJ*N=E'LR.O&,&YC1E@OL]-[VA/8JKN/4#Q_*MCHH7Y*CP0]< M[-Z6:>,U&GQ/+XZ&WY,""T)`R,V3XK#\[E%?I$\1R8`R]$MI-);M]?4>N&]R M^8J5,;JS5OJ']?B\_>^W!;PDXM^.:?.NA0PD(!WR\PFPF":?VC2^SZ3[J^C? MWELMNV156!;1:QQ1L2?M6#2F8$+4\U#Z&47O+%[W!44BT"?4'H89;*`M:)YL M0_[H*=.2OCI9?U48V7GG15U8GQ)%0%BFP[0E8*A(7`)*@.Z+.H7P*")7S,/8 M)N&[[L-[X/BRYQ/()_<,K6&+&8D@(,ALZU]PC"7F]BGH'+-/039>95L^EX@6 M*5H>.QMQ8>U01+]2X0#27HHLMT'[$KS>4S*]Z;2)^YH1[L9)E M=;R=69UX7*HP_K$6=N8H,XZVL%Q*WC.!M&"$VX;BTADY9^/ZRU<-+@C5[CK) MFP`2XWTKO#0SA=>4PI)R]-`U`;:6XT@*IVTM]#]G[Z.C&.G,Z<_CMW MFR6@E+)M2FD]FX82'92&DL]KCF?N7`08'&O+\!@T\^6:VH67+E0M4EFS8.(Y MMY4(R]0@)MSB\7S!;:$\)1431;F)GGN'T4Z5)LZ&(?HH>0A&ZN-+&NEF.V.E M%<4WO<>-K.A/V+I4.?X*1.1(#Y1NXZ+R?;C>/ND%?1[;04"A?^F*>/AOQ"., M$*.+)&3`P>;FH@$NP?]"$YD2/@_Z>N2A<)1C'6#L2VH-E8Y>C`"F("W9@"1G M*+'R;94G7RAY@VB3#1[8"Q6_F8KMP@">%ON#V8+5HC\\6C]K'27\VT[`D_C2 MZL2^()![7F\[#;E"?"'J`/1)R*.&UGW7$X:MCBGN@8:[XC%&F1(#8N.NM9MQ M%)/9D(>3<,H#P@P+W?FZ@"XS82.@_)"N\")!P'4#51$1U'!X=&P#2P MR&O"C0+&DH;7`=S?H8PTHHX;:=)K?BS9[T]3^%=Y%R4*P`(ZL=,&+X_"H M8SPQ2?*&%IDQEZ M+&D"D`((NH<#@?05*=4=Q3^A!/,I3*F:[9/*`Z M[UR(1`M=4I\&I\OSY^C]]KT)%^NXWWEN)T%TM@J.K.Z(.6GVT1,D:"/GTN`)U(HIF*$<> M?!$#AU$ETRM9H2:<,9;X^^%]K@$I.8%X/2?\;$,YATWW9I)9)IGV!UX?1RT` MT;00N>1^$;!J5UJFNE^QV_QLOQ:UO`AP*!5$H014V#B>IO(9,%GX@6/@$4S MD/97#*1/]3#O,%CU&I,T*=P[$5'6D!+*^'+*W:-Z'E3?0&G>J-1=2\7/1'FD M<%KN@12!VG2[9Y*=0HXMA">EKT/U"WA^ M2)1@NBG3H%Y`/[6?%&*/D\Z3>\5M.OPJ@_@@K'$?,#$"%,_7TB#7'(;Q0348 M)O`UZ4:KE5M]V&`OS3`N(DZ7]S(;Q_.87S@3U##'CD@$?J7\)6IW+.(HR[*P MBLK]++JB_`3!J'@9S!E32#8.&4ITKO/`DL)TW,RJ*Z>'VW.PW`EJKMH2E$=^ M^L7,HHQ(LB8>[@EZ:?KD7>SP#.]K[1T>\9D/TC&5D'B0EFIB/6)E3($VG*'E M6E:J0N=!4X8!+V#"W8!]T.(&= MX]&/QM8AN_(43+G_C;3;.@2NCVO>$OI[2+Q(1J M[J'#E-@'J>(KI]NL+T#X<)3<118F=0VQ_+$8.==UHA9`Q-JCP@ZKYG'-[QQ/ M^%;(=9+(,'!D2>W"#<#R0Q'+GG@R(6&B^1S+(?V7370R?S*L*XJW'0ME-#UF M+#D!9U@1'2?T]'@Q\0><%2U!F%JI44TM,ON.G0!86!AQ%1=@0,&);7(G):R' MU'*$ZHY)E17%9;R.22!A&?_/O4!>-CTSL5EATA7EKTHG'P@=H-MS)Y&T66"& MIT2:YF`B(K)5P`D#_OF%N)JR5-3L-`6&]"OE!>6#=34_#FT\M,_:K< M]V[]2:J:9>KE?[K-O#TT>NHA4`;#M>1O/*^PQ2:8':P)FD6]-QV7GUBJS;0! M%6E*D-!N2I;4X9:/4&FCF#1PSBGH)6M585OGM#?-BEE7-@P`S14HA=>=P9RA M;9T<*]G1"1!I=8E!9D!#0FJR_P?JS@U]DHPC(M_R1 M,\EFU="3F8X*<(WD)!4E=&;O*O*4T]:+:+VD6A=,YC)_B&CS.`M M3=&:=.61%\1E]Z1YW3G<]FG?!XQ?@4F)1DF&<'W]("IWY!0`3KV'$X8$#7.\ MT,:9^?\68N,37@N3\HV32S6IJ.9-TA%AV5/G*R]#++4JFT*#23G]0?5=;LG% MQBEYF4QR86^-";B`FV93MOZ"2P0.\4QNQ4[B1S#X@\I++=4"GL+2'Z,EG!OH ML>I49']E^<%6;ZE`%4D]LDJ3=&;8/();.-I%L6)>587_@-9T_,[5U;H_:U2? MONM(3SVG#S+894?BU/YUX63-;T]3R^(M;A`W0II/0WMB6&G`W?CWGC`D)ULH MW!79DC=YO3UP0]!;E!8:DS-LJJ287F].$D@]X<2)\B^-@2@2435G#W=**($Y=A+3)RV,`EC MSI0XRS3+4,,N>%6NS,V2HSK*,=-G^/7S6PPW@*Y]7/XJ+&(O4:6_H9Y'VJ&4+.2Q="2UA@8/(,66*+R(1N1':K6VU7(=&^)$=DA&2;C(;[Z' M89L@'*&K$9#PFKL&&A[LC!Y%BIQ-`=<$Y,VQ6[GEJS+5@;0W1/W.G/,I^'>% M%_'Z*-@9*'#&2(&B30T/U^(&-24O+U#-&-;>QU@JW;A`<:J2TXU$W((JY'J=$(>.T MU%-2AO!5?>-F0NF)R"HPAJ+I"0$*N!K!VYR3<>KK(LD`LA4<<75=]8AJ-VL_ M\]+)2K&E9SV#NCY1Z[\A_TQ%GA(?J\R9X5HQKVQ2N`12'G??08=9%3F$6<<8 MG?^*U\C%"R=#ZB=5DCETO-M."E\C->4Z:#*#@$F*`$YL:OM-M:ZH&C+**Y>[ M@CHEJ:E#`<4B#)GJFL(0->;>67HK#1"214CU&*1-LS#\5)U`F45INUNR-4(M*PZ!(388V' M5C'/)FD0W^)5JI$5C&7;I,7")2\__$P+%;LMW%3\KE.*%&,Z)JP1&U$$RPQ* M)),9IV&%PB3/[28`;^0R$4_*>`8#E:??O2JD)Z4`;[J2-==:%GHA8U+\0V(@ MXI7)`2>T42BP7FM_DEZ>V*-TJB>YEOLK(B?A"=X3BPP(DWC,4P36%\+5?6#DX1K:#Q<@ZN*2;@&)4615)V:'/-FP!",Q`$"'('RL<0IDMJT2!Q/I70< MC\YA$G^+(U)BH9)H@ED.=GY$22@\V()F[6A-2U"2>OAZ-\6F^%G07^4OS0IR:?.S4K$_F90D!TV'AOYG`%BTG5 MROO8X7$!OJPMG1:U%8C%@.HDP)#']R7Z.Z4X)1DN;S]^XE<_"SDKA4O6=JD+ M:#:81H;AAN*)9=KOA-*I^.V.2&0O>V^G[[S MO7OR3W&'U5O92F75D]6TY!N$^XH`?VJ.;EJYRQO4B?#?M`'.FIM2SP;V%_!# M*Z7R-[FD!:/+B0P4,7R;/=0?Y1]<;B\7=E-*$N M^E.DD7X)SY7<(KL8Y::`O]*"$MO"+4.*8,7.G-G0\&P(:_HXIBAGMML.TUM` M";G9KMISDVV^I;8&IJ+RK->\`V;X@06?L!]U<_C/;T!1[_PPU``TC6`KJK\< M/<+ZX&Y+H3-6>\$\Q]SD'U#*Y$W",WD-=TOJX3+AO:U6WQ%T_\C0D8@,#%D! M2+=IX1YL;HJN)]%]/(Y(YN*-/OAW(HYN/6*,7-O\&1"L9"1VSG.!`H'4AE9D M3E6$CK"Y$]G$,N"\" MIV5H8YK,$@7$XI;B::X8JTUO5:PAMM0U\D9:6FC/$0*!C)P'RUDD<:@P)1T> M"[80$EG!!=+NPR?G*L%PMH,*#29!9:FI2<"*ZJ.HKWZ]>DZ5U-QJ>8'(:*UZ MEE<2`SED*I,4TA)6LO$PIUG2:5-II:>;_;[>LWCD:4_O=(9Z?]#)T.N679%T MD,W?*V>A3G%FKV[Q2EYPP3M)O;[H]Y>H;-XJ=:#>TUHH-!_+),!,F)X4GMR< M_8GJ5A&XF@KODY&L<0)\0\ZQOR&1"UFR%%A>$3`1:J\4HEND-1W@D)`6;@QS MC7Z_D^%0/*%OKC8?+TU:\LB/`^IL.2-)\2S:9D<1YAXE'SHV46(>49 M"F'X,;79,,%0>).J!Q^+`7)-1'IJU5Q$>G/G&N5NKR$_N54R.,O)_=24W$\E M*5KQ#F/-#LEO-SF5LT#CN4$*/IRR/\0!W)M,AT\9T*.8IT7&QFLEQ@7&[$&]#Y/L5J8M%1 MT007M)+)%:JP]L+!^!-IC%-Z?X'T=!?ZP9UJ"!=6,)['.@62#]?QV##'L]*V MN_QMHUY6;^!0_H%G\OTT2?M1TFI.?CTA?-H?4LE-,Y-VY'PU0@6KRW&5&`L$ M,Z4(=[4ZGD",:B+:6*5,3[\495QT$?PNS9AIW`%Z*M`.1)U38QM`8KM2Z?5M+RGS+0'!LA!J`#/?K!%[IZN=F(?(()1KFA M/'TN,=3;ZE4^`U.C)29(J`//`4LGTEKI]R-'N_,6O9F[FDEUB M5V=/1[_G63$SWK83]U),13ZVV+,G_^'5KOZ*?:H(Q#M34L8AZ1*R+RC9)ZET M"S7P%"D?0<:6__P=^N[1.\:+U`P>?ETIP\;M$ M;,C%'2]W(-VV9(7_J6$,YE";,L?H3\!,)460?)%0!;^2,?Z"HV/CEA;9P+5M MWW'FSQ.;9C%L2K/+.AI#9PZR2K#).[R&15TXQ_BT M]BJUBI:U)D7D0'ZD]&RE'ZS(;L_4*\YGA]+?+Y@P3(!/6!HZV^Y7*TU=`B%\ MSN341;R2/+*D*58312;[O3\C5O]UL@/YE#=:AY9>]&H MBS!3:%+39(`"L]*_5^*WTB4>20?@YI/QJGWPY&C@\6HDD__].]XQXSL)B.B^ M-3QJ/TP!5J$NC.+9S1U5\GOGN4G+E&2`HBWVMLVXWNHROQ_@39@.#6>--/65 M=I?I`WC4U"=6^B_NOX!S6K%Q^`)$8YQ5ZMJS*=4J4M8[](A;:0LB"W;UV4GC M1=L#;1MH8QLCTQCJPU[G&/"#;N\E*[3'+8LKWRET-WH*MT8ML%7;FZ.6V[;#U]IBJR2]I\WTSD5G MV<=A5)?6FF,FWV(E3QRR&U6GC%%#6`!%Y!0OM\;-@9OU_\O:H3.BAC^WE+YK M%>):%>)$6;MH5;$QRO&WW[3J\<6KQZWBT23%HU6)6\IL)F6V*G%I)6\T[.I6 MK]\JQB5P9NI6MZOWC.-@K0D*][13]N:>VJT*TZHP%ZC"M`I,J\"T8F*K MP%S:?K28:!68(R@PAC[HEHN<.$/]95\RWXZ[;J^C&_VGH\;4I+SL[WN3+8J4 MIDA4(W*#`J3ZXVS-M2,L?LZS3M=BMS-=>=/(>Z7DV=T2(#RE\ZZ:6'?MEM<$ M:H926$\4LL/+.0`UC(%,;+46R!V#::A-*75.Y64)1"DOGJFAQAV7""`6B<`J M36U-6\JI92*@60MSWAR;7($_UC`4Q!=4UZ3[?4P0:-,T>6;&:M0ZE(*DK_A:`N\@5OG_! MGB;9XH>R(,$6I!0VUW5[;-5S; M)].^VTO[3"]MJS?4NV8YBFFO[!->V>5MDS7K=4U<294 MS%%T(,"OA$6D4+48+-.52Y"";\`RO#)P@%&%X M9O2OAQH,XPI#9PI_@EJLB."M``%/PIN#[[&"$NPLKBXI!(3H4_=!T@+O``EO M/C,L9=(-!1K4M=S(&IE8@H9WG10V4:K%+KM#4)E9::OF#^06*R]4X4XMB?<; M>TP;\GP(?`\^CIGR<'/JD7]D&..B]@_*PDOXN,NJ0Q5;T],V&@$!XRYEK6ZE M*Y)LH<(-YVG9>[6U'?6IQFXBV"C6I0+VO-PU<@]4(U&BXPQDO0=1_M:7WBG\8Q-8A=(!O835\7UU_?3CW#\19_2E\M?F'\?V(L9RF8?V3T\\!E%A1,2 MANS8>K?4[A7@8&ONA9_+#H7[0[V<3N'6V:23&YVC*N59(7R;I)V5,!&*JQ#4 M*P[*%I&R@)9U$#;S9BFC%HDHN5)XE?%T?0+H7_G"Y4EP($3W\]K6HMK)$3=Y M!20UA))<(UGE\?3(>((;8#0`&;G';4]31D$;W<#\_K#%_.XY*$5\0MDAW(A# M,=NADQ4@HZW6R$/F?E9HRIR(ID,F!<8_Z@[T06]P_`470':[K?M-:H[TWL#0 MN]U^@[:U(/@`TCW./K74<7SJZ,!U-]*[PT.NO"KV:2-#2SVN M__=CA>;83(^V9,3$/<";D]YXDW>I^_)7X>][[WV4GCULC!F>VL[;N%K:G4-K M:9_*!'W;5NMT4U0B MOA]R):]7!:AN[+TL9D>_K;G3K) M[5^5CW2]ND7K1JO"C;:>;'9J'UJ[IP>[1G/2A$^]JQNL:;68OY*H224%\#;) M`+Q5$P#EV,M3&]#VK8O8&G!:`TYKP&D^)EL#3JL8G*%BT.[4N>Q4:\!I::H] M_4]UIUH#SE-5]M=*#YQ:T[^H+=V/E52UM^N%8TZ][&U!47M;6]0XJ,3\4\#J M\[M2I?(MYEM_S!3.;$PXU.46]3R5]>GD%3WW-8'M8=BJ\A8?]@]D#(6J=UW< M+=!:\6M6,JN5DHN5&VL5G!(SYI81K7.)/^Q'>4H\S'"WP,#\.4,71AA=QGU[?,.;T1OHG4$9XCNS^()#P/V,Q;&Q2G5+ M77NRMI'>[W9/O;RSJ9KVB^]/'AW7;?7A!NG#`W.H]XWA*=7A$['-?1,6]GDO MGXH.'4G9_E,`U<28V<_4IB"KL%W&]78T8X6AES<,GS;IK9`](4EK>XFQ/2P, MLP%7J0?G@^U,3IW/AE:'K%L)@YFB?%O$',0X+5[(H*@TP8B]J31/G M9YKX%"'E\=X;K5&B8J.$H7!3=YZD>W=._`.K\?P)H[B M@-W,?2#?_]*@K[\NF!>R)@B<<_8J[VW\B3;=V0!IH;=ZK6[=38GJW\A>V7V==,<7?K)&ES(;EGZ:'`(Y37] M8%WL:L>"@#2NHP==G"*C^F`YTLW?9%R#I[H>?TPHA>E9,7CS"]AM]2^]; M.\3WHON_S5E3A7:+0'!?',R$_%&<1F55U%NO_VFRLGS5%D^ M0YXR.^H=4YD5G6B>_QC8B[]_Q__=S$[W?R'GB(EJ=YFVR+D#5WC^ MUOHLYQS"/1^,\2#!:QV8B)#8A5=-V]-V?7]7B,.?+*(J^H@]I_K M_-H]XN$/G-F*"I->`9VO+L+[:#]JDH?Z4`T M9-FFWAOV]4YWHUWS@FZ')`?PWO]L&#Q%Q:R*'@6[U.KIUC%-PB>CK MZ49GH'<[A]ZJ-5X'%\.YC*YN]CMP_VYT35_FND>ZU>GK5G?X!#CV1X:U!QC% MQ/MW<(Y9"#J.2/1H>?=:[3D#9'ICM-&Z7]*G=/C[<9Y MJ!HY)B1X:9MCK]5'\5*T=*-KZ%WS4(7TB>-QJ'<'(WU@'$V0.^$E^YOO78UK ML-@>+#35*[*=$KSSX,&GU)=/P5<:(#,8NFD-==/<&,!Y(OW[B6['R.SHO>ZA MQI`SO@2JDKE:8FO/_IEMQY'/_DEO>I[M6(>[?F4C'QUOXC_B[C61S'*A.\K1 M[^K6`&M,;0S)KOWLMSNSP=K:[72V14RO'LG-IS^-EN5_UQD,*A)==\;-JGFM M'P)_`;QG^<&UO>C&F[S^*W86]DD"I,-+$66DMC59J^GUC5#4 MVM?[\-3WTKVI5Z94HWQQIK5(W*.M+S>#HOZ]:GHICNHVV,Q&TC8%&4]P`S9W M-+^$DB-5]7Q]&3ON9&L#B;;\T][Q>3U+-_N;^^FVC5_;76UR4:]#@$TD^";( M;V=9]UDW!J;>,\L06LTK;'=L1UY[;S30NX/-@D>SBG6?O-#9K3]?Q"#VI=IU M2WI[DIYAPKUT\N8_[7X5W:^1J5N#WJG7=R9-2B2;"/UI]&@'%U)K^S149W9. M7G*[W:^B"3+F4._TSJ7WQX'B1-)+[:"PH3CP'*SO04;[J?,5/[<=Q??5=0<= MW2C5MJ/E%Z?=+T/OGGZ_CB%55,(MWC$[9#/?G6C.?!'X#PQ5D)9;[&T9&XPL M?7#Z_O#MCA7>,:LWT,V#.,:WW^",C1(@*G?O_,%FSMC=(D*\W,/6AN3D,I)6&FK5C`[T+K,/H MG(M5MK'BTCL6AC]I]G@L@3[JE2'ZRC?J MAY8FFD03EMX'17[4;Q1-'+T!]26&N=;9PNO(5-K33:NK#_N#1@KZ+4F<@"0L M?3#HZD:W3!A$]=NSD6WE5:S?G?>2U*%?K6-_ZB+TGS,-UD3^"<"%!9.BF>9X M\.^<-UP+V+T=3'AC-KD(S:95;"Y3?Z3D&9%#=3FEZU/ZV_I8%2FZ:M!]WB1Y M.[H2[W_@CJXFTMP%FO8C_I`D8"B;?#!:GB8>C6KQ>!Y9RT@6.+5]6"[\<[B M?RMP;>V^N.N="I=R0'FK3".#JN$:FAV0V796J:L2J^U.Y.]$9Z3W-_=NW!^K MY\'N;Q1CI=HKN#*.WU8[V6)PPCC'HH6+*YSWR*5#G^KN&CU+[PX+%[$XTNZ> M16$L%I64/UJ*K0#6'B5G'%KCNMV,2F#M]_JZL;EIY.E+89UM(="&@W<.#/KF M_AYMFQ'+"(T:XPU%?ZJ&@S1#^ZC\8`^Z^L@X`I.]9!SVK,)%WEO>V/+&H_+& MUR$\L:905\P;6_)H3_1%@'<.)]KL&(?*X>=!`Q.?:=XSJ1PTZ>)R$@TMP4)`0B=,)(\Z=:I*91-#@;XLC- M1%9Y5IF@8(2D6/9>WIN5YF5M.X]':BIRI#5NN&N.LV_'2;+;(2QLC8ZIN<%( M,Q#R)+?!:`A"ZE%X\AA7IJG!P0U(;L9_Q4[HD',8+V?`%S8"E=?E<@MZZ^QA M41@!57:QV"V^5=;'8F3H@TRF[-$67"8%H]W:/:;M]CJZT>\W;&_K3`.K-J%= M2NQAQ!6&.4:LK-:N.:GH6%/9D0(T>IA18Z@/>^5X3NUK;/=M=PAV9ZB/+*L) M:ZQ7R#D$Z#_M>Q;^",QB[H0AL(I06]A+,FBTM'?`G(;>,2Q]U!DU:Y7MSA78 M.7,XTH?FH`FK/*[P4;G:]SZ:L0`KZI%<(D)HPRV(;;XF?B2B/G()(F!7@Y[> M&VTS"IRJ+E5+(TVAD2Y<:>:PUU@:J5?*.K#BWE,DXVV&A"-3KXF9^GIG5$Z- M:SG<$R`-2Q_T3=W<:A$_;@6^K5[FTWA8T]I_Q9W6^:[N5^PN.K5S^YT/.Q>Q M8*Y-`!KIUPZW.;9/@72BP=,[M8N[1O=UC%;)_XK.4JO_;<8P>#T_'['UM[X)91'&!]F)OX/@XC#1`_VHCX.KUJ M)_"I'PI7 M^J?MQ7:PU)(\MSQL'YUHCSAA!7I5&3*M>67M3FV/O-#[_3[\5Z8IP2FY2252 M4)7\Y-,?+UMFTC*3=J?(TFI9%OYWZA4>3S2IW!;8O^YTOM?<%2[SA^VZ;*F] MM+TO:*EZR=S[P)Z`>O7,Z.B#;E^;PY0S=XGO4$MHS?'&;BP[6+"`A9&>LJ7$ M)&%V=>!-%BC%(1O'`9MH=TOM+G9Q)&_VN;@S+\-W&M9#=0[+;U\K<7N,[HE[WX#6MY'7*+1ONP0'.2O(ZY*CO M\UX^N@X=2=GITP)U>@@:A):S,3U0E^+;.`@PW6R!)4JW-">NB8%]^\VE\,SG MW9YN6,?JG;VY8W![M6W?)D/O6Z8^$@4;CK]39VQ,P(`;;>*$8P`T:E6V!JEL MS_OZ<&2=6F=KVY@WBB:,$?"Y4C=24YJ8[R$;50YZ-K+O"5-V8]I;&UV].P0F MU]DK MV[J<[1KH(Z-<7GR#L@`+[M(VIU].&@W*$ZMY.TK=+06>R1H0_,CMX? M7/IAVE:*X2PVJ@\;U=4[W7(9A@T^3[FR^#J\*V7"2V2['BV']0@3;3Z_ICZT M3'TPJ"#S],Q.=5H^^^C'NF1UNX*1$7L=YZW[TL2,WV**+"K!5`D[??&CO[3= M:/E!!"8V6_%E20O(:0SK93`.09_&59;6?UM=MUI=-]>W7US=W;]LQ\X,J\.' MW9`MMC;P8#A<2>VK%=CC%\+,V^!MZF^5NUKI5N8.-NQ9I;>OMCVKZ(ANVK5M MBN1Y[9JA=WJK&;4GW+=:S]HV!?G<=@V+^C5FUVH^;=OTY7/;-VO8;L;5>Q:U.DR*G&^'_G3S`[82SMDDUNENOLGK/?^?H$?PYMQY#PXT?+4"K:$ M0X,C``JR'^/10$A\@E-;N+87:H\VJ=)<$P];[_$A3:0\_S&P%W__CO];_(@7 ML";N/?8^)9]6IA[+LDY&)Q>.?1H*5;2Z\\=U/VB1 MOA?2$Q#?V$Z0>>(/VXV5W^TH_?Q+8/.3A5W;4;D[+3)I#URTS:9G)H3)0 M1?8"65#1S(UK?!]'861[5`[&CI*J5-N$P$N)$-6'YE`?&7O[RO8$].CH.Z!S M7TZ,T18/0?4P@9[^J!;KEG;&:*O8GJSABW"2B"L MKTZ.T#@C)-5Q0.NO^MDC42TR`X$Y9.;VI"#XSKM'K#$HKSRW/*,@SNML"\LZ'I)N*8./:+"G6LFS/7=9MJ>;_;[>*UFNJ'G2_>%)]->=E(RD:H_)OM%Y35LEE76:FWNOW=*O.K3H7.R,_&`>=Z^&YL^XJ M3X8QZNJ]T9.G"N.Z_^1QT+GN'^SAV7J%;:\4)8;^3QQ&SG1YM%)1^^:JELE\ M_/-K!I+(TV#HPF"T^)=)-J?J4\U]X-T@6I?&461M7 MI-DRHW;"NW=B+>8ELP.->1-X=%LMJO45U9]+2S2>DTEK=#K'3*7-2G@7U510 M9E7L.Z6:?X$SK>4''6%EQVRZ)S6E MT-<.8P86_GKD$$L+!O:3FOH!&3`6,)`_*6#"R#-LG;0@V%&M&*N>JGI*)NU; M"B+'*+&SN$,]D*P8."IM126BU=5$872LV8EBQ:LI#3)&6# M+H$NBH=B-KCX4%LL:V_4';_BU5&**@VZI8HJK2E[&X8]]\HM?7W4'^@]LUP: MPU,O1&)>F^6B7\^C$,G;,(S//TN[-QKJPV&-*8=GA@^C&?F7>S'O@KD/12H, M/.%T*;/;U0?=X.LXE-&(KAT!1V#:W)\P%R36:$9?I]Z!1V$5O;*Y&4RST[4V-%QQT.QH MQ:)Z[0%MMM3U)ZV M-6B@OH6=.VU!3BRUWB3?LV)_/?4_D#3Q?P)D.T9"] M&CESB!EM;TM5'E*?%1IXITDM;VCCVNS5!78!Q%0]7I,1W>M7`785AZQT[&(1 M!>2C$W[1I@%CFH/,""1B+AME5<'3-%)L\PNF"4B@:$/[]4>=:_[@RKWJ+%WUROGP9F`CJTM'>86U;//D#C*Q`6WQZM:#)Y( M.\K1B'S7CAS7B9:72^B#_:6+)RZ9]4<'4?@6N4Q-!-C7NK_9,R#K)#@L_#UD MD[?>*[2\PV@/[)UCWQ&]-\%3L",+0(G^#YA+'H7(U[R8+(_^5&8)A%H,BP1- MBWP'DV2IFBO76C!Y0+/AUD-#4)M%<$@6P19K_VY#FE:\C,+))SS8*KD^MVJF MS+'DGGS)A2<\+E:+X+%HR;%*EW6<.-.UYIWY<+ZT7G>P=]/&VLY?):T:"FQ[ M*HFEXHM3*@:V4DJH\`#$56*Q4KSE8\JRX-B4*_+:K+MJ MGP#$XD>(51*->R2II5I"/C1Z-'_JJU*D5BMJ3RA?'GJ\]RRYL3;9<],T]5&W M@NX3N<.O1U0?+;1WIZ2Z1_'C2[HA]7YW!'?D`4'!3^>.W$MJSX=KZWG8;;PK M;X#+KV'Z)H[B@/WJ>,X\GG\$Q=1V/]C+.7P(W_C!^P4+8$SO_AVS0[9W[._$ M><"U\+FT.9\,N`>?)[&=>3"`-L5;E[Q@9"R#[P-F3T%?UNP037)K-C6=QQKA MDR$#E".@NF8'&,DK['\BD%>`D6=P$QN65%-]XE:XVB0R6>]RD)^!V#&VZ6UG MGE[9I6X2U4'73*54;N0V3:+1N2%]2S>LL\TM++@[VUK]M+MSVI.S;77MWISZ MY&R3_=K=.=K)*9A;^CD1'P\RVQS-2K-SKRO)Y!V-!KK9+V?K:WK#OB*(_>R# M>G.NYU*KV/.W5B8CYD6E$N#:KA2+NA8VQI8[:?(CK:T M%=HV=KE(F4.5@UV!*9M3*/=0%'8&USP?Z`/#TH=FF7CO;25[<_06'F=UXV[Q`59*(#4?V"I.Z>6CN[(S6/;@K3F,]U*N M\UW$MXGR^WZ:O(HYN%[(7C*/39VH>3HZ*MJI$JYHYWF.X58%/X':5VA)^Q4` MV5DVA3ZRO'3-+W_X@C@$"M"C:1MCB>-58CL.+Z0@.VW,M8^6_EOZ;WEB2Q.-DP?7 MV%UK*F@M*&=O03GD,+YB4P9W]J0U&+;D7CNYE^#W9YTQ`F/ M+#O4O+)VIYJ]4T>-$6S->ZW:TJJR+4TT@B9.GA-1DX%O(M2%]@BT1Z!EBRU- M[,\6MV>:EXX^SP]B?SV=,JR8QI(Q/H),]Y&-?6_LN`[U06A"%'N0@4C)-L]T**?H\QM5'.35R+O,1;?1T+BK84V:,T MR=YCU]_$=W2] M(Z^9+4@Y[YJ.STV]/QKI0ZO"LH[KI9(O!EN&WNF9I2M/E<36J2OX)6VU-!L% M)ZPRO66Y-9:[EFX>7%MM&^L^#SP8`SCKO:(-P8KCX=1,^79F M>_=(RZ0+LU4]^-SW;6A:>K]?(S,Z,WR4ZRUR9FPYI671"T!3^M4DQ?_/?0N? M]WI=W2S<4^]R6;*I]T;#"H2O4S/E@@5D?_/17A2/(P>-?W-FNZ%&V,3_--++ M(]OQL-2H-%0>IG/78D`XB"XJJ?$[M/11R79>52+KZ2)^!+I!KUR'F*;65MZ) MN/UYYB%<\@!6O?O5BUM2G5Q^E7#-Z][6"-%B[U=Z?&E(;>+'<)W45'Y]\Q05 M":C5HJE%^M&0OJ&B>OT.U#Q/>GD7>+XK728*P``W8 M*?=*4;B-A=]6=H,HX92MOX:]LW1Q;Q'\FB\V[O9OXPPW485^[/VN[78K"E6[.O\0#F]@3%S@]ITQ?]4%<::K"E=X)).8^+C M`LJX*<`\Z/$7^<'LPGR"(O<$FG]2!L8O"^ M5XZ_7]RV7."2FFG`1UE"%/?R[C77#[F/:NG#].=O&3'T$>@65IW%$\X,)2.] M/[#TT/C?M`=Z8->+4:_QMY-6SU47EFA_ZS8LP'GS.SKG38Z M+D5)1^\"^QETRY7TN]2KJUPUNZ?+.)_C41I@H&DY&;[U4AV$=#BLG8%N#&LI M='*`FZHML_'4EM0XGK[%3;6W4/.$64VWKW='M01NM;P]5P[KZ[V2A8*;JH@\ M/69X@4LZ=0733%*VFY9;:3.SSW-)C;1Y_.+[DT?'=;6;N0^3_7>7D?(L-/KG MAJ%;-93//#%Z5G0O1["NV"-C8N0A2M;!#0NL634D6\&&5$[I/I\9O ME=D+D7)!KOMTE0*S#SRLG&&V]0M5HHT-=;.Y;J$V*/QI+:F!0>&;/2C9=KFK MZEO+;?+2O6NSM;5L?H>J5)O5[92:@SB<3Y!37N"23LW\11WH,J&\ASE9VOK< M9?:E(I[?(OU`I&\]MJ!2SIUX`@*JB"W.Q-M$@>83AK-F+8`@-<`-?3BP=*.DQ^NI5TY'9_U('W3*94"<1_'TO$,@6XAO]>*<1:!% MC6FZ+2:.P[%S+,^^=T6"I(U=_]I@T3->4IV\;@OAC'TOC%VJ0;*YU?:!JRYW M`W'W<,?0K5&IN[EVFMEC&8;>'_3T3J=4/%/SU=J;\5^Q$SJBUH&'U(.)1DA+ MSH1*VIPJ3K.DL'-YU^3!".CV.KK1KS%9_-1"W9^B#HWFA"&VBWITHADUPSG3 M#3/-#J@RYUZ#N@(T#'2K9.!H@V2[0NH($"QFYZ/YD'=!P`9G=W'H>"P,009, MN/*9[N&39[Z@7GRJ:TU]9^^TU+W%YNV%PXZ+5TB\/,7+2Q0:T9G MWS7O<`'#Z&/7AP;0;4464%4F/FV%T5:1:[SD=&JF^@I;[F(8",J\6L!<&QO: M@60P=3P@8L>[/],]`]6[:^@]LT9Q[SP0T03BK4W>_>@O;1?$V52P;4FX)>%] M23A-$,@+WR\5>Z^&[[\4YC#%1W&;N"AN50_%3?3&=@*L?LEN1:FTO!C^F_#? M[Z=*%+_QG19[#G_F]T^OO@.5;^S,;3?$\/*?N[V.T>^G*SH$G.,NZ]_):R^7 MR<=_.#!J,)XMW[$'YMY\=<+TL;?>(HY"^L'ZE:*76\RL8<8H@)G.4T.*>:%( M,;>N:&0,NF>YJKHYPY-$S*4RAH.0)55E) M82R`*]/J=GN&VD.:N6#$FO72Z&C8M7HM)JLGT95KM;%X MW3#^+[;CO?/#\*TW=N,)F[SU7MN!!X^%15*MZZ59P^K#\:\`N:77?JX(KY:T MK=ZP:U;`,PY"_R?;93#>`_-BAE55P]]8]($%F!QIWQ>]L^`7?(&CX*,3?GFY M_+Q<,,+9;1Q&_IP%:\^L86@!:U919(*8=-U1$+0=UJ.NZA?FWP?V8N:,]US7 M:'BB=9FU[E:OD:LZ?+<&9=9UYWOLIQL1%`2GDSET=GLFGLOG.FQ=:T<1QE M;2]CQ\5L<+&4GS]8G7^E=%0`DLP]Z0`BX(9_0$X>V=Z]`VNDHC#E(`_WK%XERR$>\$HXI=]/7X<1S`.O?;"7^$@AX6\SC5SU M0%KN#SL=HI-=HI MJO?5=8!AX['3[/N`D?P;7FOJZ#,['3-]AF<__!9/G:^Z]A%$[XD&-**]M&$: MN!XL%\@N$RD3FX^M5>]Z\,47$37W!E#TSAWSR^O?'^)@#-AG<%%]9/=.F-S4",Z-1"`-E3R:?+OU MG;6+/I=9&%9G8(Q27G$@`H^S%U;GZI^QQ_?B4WP':J)C!TL4(&%@C`OG^"+U MG8$<,"Z!$&O0&W0'QT/(:Q'O"]".6?+CTZ!(N`[^#;+:O^D26I%!K8R*N@_J M:D2]2H`?0;;C6W%NSX'*,ZXYU#LNIZZ@V M>OW`PCZQ!5__R\#_P@)N@05K>:=[YW_YD%Y-RF=1ER3T8-[L/U972$&EP410>C<]7T5ATN=RRU<\A2 M<\(ZY&M$=S>NZX]I%T0L!R_PC.:X<,8F9%FN(%ZKU^D.S<'6:)/28.VW3-DT MBKQ8&4-CP77^>[.I$O;^5_L_?I"ZZJ1=^1T0>R%G:&_0&>R%IRWK.@=$P0F: ML#DP57M=U3L';Y'`;1D=>V M8\>.NK;=(885+.FJDG#YO)7`S7OG>+88('V-Y`'1Q*3&0U1@^F*^NU!MI2B\ M3;\!H)\?F?O`?@6H9WNIJ*O,K3M2>=MA\!QY90?<^R#NEKK>K)XU,D^/)FQR M\/G1/_6^"S".LXYSV>5JD#(#C:L1VXN`'&LM9[7%AR/FC1\'3=ACA.-(*SGB M#IM]TQR=&"U8'Z<)&PS/'FDEQSS"HT'_=%BYF8*(7>$FF\9@,-Q[ES/0''-1 MQSS0`[.W-\O>!T'8\/#PC>V-3&M0;&-APHI!.^+V&'VK;UG[K#-'YWM%D4G* M%XD)VB@6<83;3"?UKNY5;`/)B85\R;SS#?>"Q MRH$?RO!BF![P_SYX_77,V"1\[[%?'=>%%XN8ZM1HM:H6>8Y8`VF]P5A3`=\W MF+H&`D+_1V*0*@)[8]98?+MQC6;9-29!PL(\NH4/KH2SE@PP/]39\?,'-X?P,'%E6%Z;]OF*..>M]"'P*2JY`K>@-^QTU"C1_IHI@V8Z6[FAD="QS M+UC*>[UW2.5&!PY0WA9M=&0?`,L.QZ+5ZUBY>-D-"QVZ"O`QLCI]JSO,@8%F M.'#N74X4L]_I&]U2DZ?9'54L?VCV^U;>ZI5I*@%C!R8,9!W6;CA$&D<>F?P& MHE%E=;Y&9J?7-9.TD>WS50O8#DR9UM`T>WM#)F-7O$GZ5#7Z_@C8"ADJ"DU8 M+62[SIDU&/6[_1*@[4Q%K(K_#+K]H:$F!V^?L6K8"F5K_L%FSM@M5#FA/[34 MH/\&+N9-'`#X<8!1@F^86ER M%*7?SA>!_\#3T`H5[^@-S(9O%6;MQ2`.)[\5,ON;UJ#9C.*3/XT>[8`5,6J; M0[AA&[V:4IO3&PVZ`^-$Z]FA,L-Y&*KI%\>%K>HK9G#"*Z;88O:^8H`R3\6W M]JK;T-PKIMAR]KYB!B-@Q7DL^.PR\MUX$]5UO''@"O0=JS^R1OV>:HJN!K:3 MK7>'[<\"W;-7\WI%!@^QLPDWWY^44KNC?D>1[3:!MVD)X3L&#[&7MHNM7S[- M&(MR_!RK>+0WEN6H?\7]_G#8SU_P`8O)X,)K#C'/IL"6HW[^?%LKX*W-^>U;&];%]MDKAVG'$LV&O M)>`:CX.835[/%ZZ_A"N'>6SJ1&%UW4_ZG>%(#77;/F'5H-7=IZ!SC@LKTF?@ M?+>M9,.`HRYL!RR4"[U*-2>TN.\]VVVHX*QJBP`!,[,:`\6\N[NJO% M,(>C3#F&`M/6`>6N3&3#&G5&>T/Y/IJQ0*!>*4E?(1J[AF4.%:%\^XP5P[8+ M>8->;V3L`]L[W_;"#Z*'?`6:2[??-8;*C:B.?]B\_\9**!$+YM@,-+$EI&7` M8(TPSA]8:W#YTO;6BSGGF)#Z^'^#XT&;0O=^^I*Y]QA,6L0J?FRL[H-,TZ+_ M.QZ0'WTU/O7]=!K._$+FZTX-,.Z26;KX_[5,7,.Y."*<>Y^((^.SX6C<^RR8 M.06G\D'%^=YZ813$5##>L[GVS":RVG,5E^S('*G5N7?.63V`VP]R'_2]#"V%G8[EMOO\(5.WIO&2IV#P)G[W65JM"P M?3F#D5J>>1\H#EM%\3($.Q+`AH-]MR6W<$#I$8IGV^_PWIN=_N"0+5G-D"\_ M0.$TX^WG?&!V.UWCD)6L9`67&&"/G.E=&J!E#@;[K69CFG.6\]W:0;#$%@E5 MU49;%YFV3;C:5D"V&W@38XR0*#XMOWQ597/:P7"8)O.5F[TLT&\]X%BX%94X M<7I6:;A3`/8`'9E45<`;G5YG'^@3&,K#CYRI,O#-X6@/\!,0]H`>#F]ET%OH MBBH/O02A+/2?9RQ@-K*A*LB^.QB4!CZ%H"SL%:';*`UR`FB6:[[T@\!_!+9Y M:R_LL1,M=_)KM3Q[Q9HF)7SW,MG0A:"M;FW=JYM%4+E:I21YEU[7)KTB#MFD M<9LW6-4=2T!=_6)KM!7B8H>-6JQI[2#=PQ;;:]9BZSNGARXTYW2G]3J2]]XY M<^>$YW2XA1=M@K;"Q=5+JE9UBU,:9V$\R#C`,,.W`$_@H#4,FYL=:1/S.YU: MN8LL`/7F(YEY67V%&OL6*I^QWUI_?O?VY?N/VL*-0VUPO='FMQV^S>M2&]*] MGD[9&'M5EV[PNK_)>F=CX5+@;EXG+X;AC(7HM_^&[6N([PRZ&U>U`ES&'.)X M[/WT-F!P0-_88W+K[FH"*'MO,;78X%2]KL$_^(YMH=Y*CA=H=AG]K M\0+&L[4%S,40)P[6NIKZ`<8"XB+B!2YPV*'&@B_M,18-\?X6:LQU*.Q-L\>\ MGZWHI8@G3=?L$#9\2F,Y'C8OU,:T&.I!&/(>;TICQ&SO1!L[,]KP_01?AY$9 M[`_6C]'0RT!#?))#)'72>&M%8"!PV]*6X()I9CDL?,E7+]:$0R6<7GMF:7-> MC8D:)N*+'J!5\V`1VIS;TAW"O,>HBP>?$#"'2(NP#:.=D@]?D%ASL@EC.P@< MZOFH.>+H)L2B$%BW"'&9U[WO\]"&^*`>E0L;OM(Z\!@`[6)@9P#+G-L><`9" MV)3!0'QS;%Y42//3KJ5`'A0A3_TD,Y0$Z!=M)I4W8Q)YM`7Z,6#0E9>((!Z9 MZ^*_-KT>`/GPNN0(R,F.237WT/>`5[2'`MK^:7NQ'2RQT6:O68LJR>#2)0'? M!!Z**QHU:T67M#M;;M*?$_!A"/I*,[LZK$'MAE5@#:HE2)0C#8]S>\I.N'0I M#F!#!-^9.@$0UK-N3P=9'/_#)SP6:2&VKM<%.5[SRR?Y'ODP^TK%H.!K]6WD MW,P>SR3_(0X>,4];H@DQ:PO+PU\/8=PZ8RT0[JIJU35ZYAYPBN(T<"&Z+JF%N_NH'71* MMOO@,_KJ&E1K@8.P%,S!LJ-2W><-2E.&&;`+-XTC6T8HP]%*<%DR6`$3O%`R M>Y_>Z6]8L11[:X6L-\%>T?K,(Z]OT.DWSHIN MQR=%+W*QQ)R?$_>R]FB'J=CL>^XR$=3Y-:)(ZCH7SA?2'4U":_*N?`UD[)#] M%>/8EB7>W*B4*H"KRZ.^CB]1DU)CCF^P3R,7LU\NTT?$(#>/=C!Y3S=.^#Z5 MN'D+[$(-!',7$GIFO]]3 MX[<:C81?J+_I6X_;@#:GGF[.*\Q%@FGVC4&O0DK(@?/T:-A)"\;`Z)MGA(8W M?C!E5+D'KV"X7!Q>:#N9L0K:`$99*6GL!+II&-I--J8UJI1LCHHBT4,9[9)5 M7BZF,>KV1A7>L&MPGAX).RG#[,'=HI:Z;C02E)MKI9IZIL]V:0GL]ZV=V=6< M]B.MH*E(,PHBS;Q6BS`_<:05ZB9/2.N8S49:6$J:*(VXK;4FMJ!M5.9FJVX- MS45=48HSKM6H_7-%G1SYV(0'-T.9B[/2930:@47)KW,]')P%`@^5AH_&";L5 M7B`'K>J1V(\F'QK7_7H4KW-$6O';>G@:I)''JCYYE,0& M[)^85&&I5(Z8KO&['7$-S$5?\D*)AX"2(J\>\N1_Z]A8.RXC6U:ZCV2@L MSN\Z%?*[RT+AOVG\-(XJ\L=?Q&QY;N`M.#8JM&[M@>/#V(N\JB8',\G]3GGG MNM\_E$7NM8;FHJZX\F<-SA1UMQA6Z[K8A)?D]I.1GW%M6H?B\+#%G`$R2Q#D MZ-R164[<>K@`D?&AV8@K)^N<+^(V:Y,U*REP`Q]\C>RQAN8BKH3QM7,BQ!TL M;F(GB6B9QO:%%,?X>69[`J+??.^!A0!'E0$#1M\R1YTJHBC*PM]KW1<%2%B6@'N)6@))$R;L(PGG/Z^^B$7]X$C*FI]E5;V%:S_KN4 M]6^85=!0T34=+I$F6H$RTYIK:,'&\"=F452#Q)\_]/\U_-4P7QTJBY:$OC9Z M6YGS#]^%T3"7\QB$EY@DC[^TVA`J=^V5\^!,F#Y*[W5:4["3&R5!6RVJR@LJV*78%_/TN%'[Q9_5HRA6)S0&, M8F5"2BI<1":_WG7],?;SRZ??,EGAV45_A!D#!WDH+;]0\W%4L=4F>H5@JV4U MJUM8?C5=Z\[Z=_VCA7]#[XB"*EPE^+A7[!"JG1Y0<[B):?8:30II).<-C47Y)"`&\< M[%P+PQ<[XA82NR*^[`*ZA@5^FOE!]'FU_,3+P)G<,RQE4&PA1F_0Z:G-P8^W MDE_M@+.>$EOUSO'&ONO!%U]$Q^K%H`LL=BTH,S# M7<'UC4S8T!.2Y4X727\$]X0Y.B6(_\9?X&E@3O`I!`V!QU4KC8Q3U77&IR4&1;P,9E&II_;\4$\!M7UNZ/!::@N MN96.<;9&/=!%RJV29!KY1/H3-S6_#<-X@V]@O792[_>T#&+G8H`LUJ[GND@%4:\ME;V8JRP!QA,<7W MQ>S5OY@]/8#&3@=?QS)W0[_55U<]U.9NJ,UN?5"7=!`:W_W\H8O^OU>[05KU MWE4,BDGVD=&OYJA&6*3+XE\.<\O6/MKH9-EK\CJAWD:#QX.ZM.=U)[+[H^)@ MKSM':X-[)[H'!=C4#KA?AQ&,"+\G[R8B>;[=O?\K@-BY^F?L<='Z4WP'$IYC M!\M/M@LO$_<6E2Q1MF,?7'M,IL>K!#[)8BS)8LR*+[I.9SCJG6!A%K^^/[$%7]7+P/_" M`N&#PH]%;K718#0R3@!\&?HVS=RR;G+%#GWI`Q\8E'D MT@U7N&YZ*<4N_(>/GF&AJDE MQ=R"4U4+U?:-/PBJ3Q'L$+5H&1\'8]LGK`/"LM@K#N$K-F7PRD3@^ZTW]N>L M5B06F[$6&`NC<7\8,Y@_(C:+S%LCO*4Q6Q;>Y)&/#*!!$Q]QT@UOWDC^@=/$ MD1\LT_?+6_/7%W1E='IF1C2I%+Y3+GS[3EZ9_=%HJ):T/_;";V<89/S6DX0$ M#]R$(8O(S\OCD+'S*[4N/72;K8$Y&G5Z.Q=;`J:CKW"'Q#48COIJ*^:CK##_ M\!>RD>XZEP-ST#-W+F<3`/7"ON-H=;N6:>W>B@-@E[OXVK/)_5P%-[RR,OR] MU,QU@KP=V4/`=+_XP5X'6[1AW'%8]C&H[Z!PLS<:THG=$X)Z@=]!XKU>US2, M@V#?L6._^=@U/`;U[*I@?&05P M"P=.A/G7"'[@W,5T-]M!L)SZ`>9R5K'/1G>HMB;=!XJCK&)'D,.H/]RV4X>N MXJWW`)C)JK5YHFX24'>X\$/[-H^%D(SF1SZ5,N,$. M'F;VX5!MXV+JA-5"MH,OFU^,/_&HNH0 MFV-VSYFH2GA*NP'*PI-ZA)%P*Y9&1OT!W(W6%B@W3U\GU#M($<0/R^IL.S_; MP<[GQQ0XEL20;BZN4@+%PE18>+[J@=L5K#KJ=43\EU!?`?:NK,$P1X7:,7%=L.[` MIV%8B:.J,F!?L44`LU2'4*-CY2CJ&V:L&KCM&`38>KVJ8*N8$HVAN0.V$IM: M,>69_4&2#UD,MM4SG[A"JO5>;&!^>;-5"M5^C*\H6`F#5)[;%`Y<7ETH.%O5 M@.VORFZ&:_T27GU9.K^!/N,*?-1FIVMDY(*R$-0,?K)SD[Y5QU`%(!5#>YJ# MC6VGB@5U_2SFU3Q@+;X<6G,I^0`']Q]8$&J,.OII=J0]V('CQZ$VH2GN6/3( MF*>9';.KV=X$/EBFKCW.')=I(09[%1LX=YSK(IN_LNC<2)377^VYX]%#'YAG MNW2)>A-9X*5$,>&B?+7DU/5"7?@V.`#JS1OTSID[$0T5OO=^+PCPSZ_1:Q8B M(8UG0"\QO.>F`VF.IT4SH$?.J_UI#I4!=48S(%A\#HT=MK?4YO92B['$QW\9 M#H%?@9BE+9D=P-]C-YXP7;N+(\T&FO3\B,_))EKDZYJMC>-Y[%)4E^8_>D"^ M,V>AC8EK(PP@EC&_A>3@D;.IX;*)K2.PP0(0Y@GRZ!26<%B+Q50RN M2`LX@^J;_>#:WJ_V5\S/NO&\V'8S/[+@]7SA^DO&1#V*2HK:9(U3!T*DRMLX ME#!>X2CJB^'+)7Z%V4W.V%E@C9!W_B,+"%V')__W>QW%WKLO'-F3S8_/!]LY M/.4?-+_10&T2KHY^P*P[L#(<6$:O5V36)+:WDN7F<2D^]&&SEN>-Z:QJK0U1 M2?%/)YIAU>K#A5^U+$[^'(>#4*(\P`X0;K$!81#":7@_E2$Z'^RE:('@'U0/ M<#6V2'0H*SEO/:`6"VG<`TH8/\"\T;>RSDA.1#%F"_OBY\,C@D'8[G43AE=N M]CK!+H;B?2!.\@YY96C*TWU_YXH\U_`MMY96P*J-OME7R_INGZ]:T'88Z7J= MD1K^50(TU0KU?IIT&4!?$LJ*KYQP2SCAGJR_Z)PUP;DCWM7J&CWS0&A1+01> ML7P_?05ZT3BBAPM5RRJ1!GXSA\,QMKU7ON<'GUCPX(Q9D48YQJ#?&ZF=4'*A M/?IR_@3YX]:WP^BS@[=3B07UC$ZF%6AMZRF5I;_W]G0'YJ@[:MIR#M@>LS/W?^B[,Z`>\ MSM@;/\!V)]4OXM;WUUL%Y1=M&_84:6LWK,FR/HUG;!)C$2<1P2_>28,./J/X M\QG6\M(M*FO]_+]N]&*AA='297__;FX']X[WD]991/#?UQ?:%%[[23/P[\B9 M@_[OL4VI_,O="V$DS5]\=W_WD:R!^;JVB,(N\+>,+6=0*-.F]K,`74]&,^6H-S'H-N3]9Q,5Z[BW[!#-`S` M`@C;FF7H&JZ$GEO]UN#V"C0]S.'^C?%^A[^5.7U/LS4@?+B+$>8[.W3"GQ`G M/RYP1=]^D\$/HO#*\28,L=*Y[CG>"^U`G/VO/5^\^!^CWWEQR*ST[Y7XK1P` M@IA@,DXS*3DU`PU$1AH?[%]J='TQ8<#7& M,[0(V4^:_%0&%&W,7#=X5P?@3`!)% M_OR%^NPD@SGQG,NF$FIKR!KX)TZ'AK.&`=X'V(_XD3UCZ`!XU]0D\C)4LX)Q6;!R^@!^C((^Z M[NSQE_L`A-H)DK8?_*3]SW@\G8['+[0RA"?>O7-A./[$.V3%6B[@&]\IC7^B M<:V"@0*L+I@WDFD,=;A1CP'/6>"CWQGJ(\NJ#Y["=/HXPU&R^TE/DJ$G5SU,!IYJ/H7\B?B MU1O_?U=7VAO?CSP_8MHG1OJV=G6%0+J.]^6GJ?CM'?RA?:6OHN4"D`I@,2P^ M\9WX-O`1U;,H6OSTXX^/CX_77^\"]]H/[G\T.QWK1_SY1WSP.QSZQ[6Q4YV[ MOLZVW'E;5V_>WA%Z\^:L`!&'J'9^$DO1G,D6PBFV&#$BP("$(O["+BZ1,W5` MV0^!YN?9[0[9^/K>?_CQ]NW_^]W/0'M&MV?U,)5K]64Y7,CNJ3()_3F!R;XN M7&?LB*K8V@2T1`^]37__+C%%JZ!_]W-J4,M9`Y]W;=B?)3S)[#_F+97'-20+ M][#56/0SXN\*_M\RDE6)7^3?\KT?,SL"6_3_I+%=(DQ`6!#SB>4W7S05IR6' MG_T(PPVRN2Z_^=&_6(36Q'L/C5=J(_1B3.3@-MR]OMDWE:B)HZQM.\%W?GW] M[T[WZF81"&M;O:1<@'J`0H((P[HX_0!PG81^TM\2,"?91[OI%/R7`J0FW;6\ M4<=X^V_T([D;5KPA(``.HI`0`5`!P`8F]N92TR,#$R M,3(S,5]C86PN>&UL550)``.-*U-1C2M3475X"P`!!"4.```$.0$``.5=;6_C M-A+^7J#_P9=^K9/82783H]O"B9,B0+()DK3;^U30$AWS5A932HKC_OHC9HX?"7WSYF3N<=$@]A]\M![_#XH`-="]O(??UR M\,?+3??\X+=??_SAE_]TNW]=/MUU1M@*9M#U._>TS01!NS-'_K1S_6_WVD8^ M)IT_EWUU:%>'_<.+SGC1&0$?O!!@??`]<&BY\[]X!8TT[_].=._[AW MTCD^'?1/!F>?.H_WG6Y7;\@_$9S#])!GA^=LD'N<&N0L'N1\<'H\.#OK#"L> MY'QP?%'M(&>#D][@]*Q:==%!/@_ZQU4/6#G#$3KGJ0BT&O7_4@?6K"%0-/!SD;T+]4/5JXLN*R?G ME0_2'YQ4;L(GGVJ8)Z>]0:^D3>LE@%YRE$_Q*'26].G24LZ&(AOEE,WYU2@. M?SPX\Q<0XQ>3WJ'Q^?',4-#Y8M!Q\>2K6> MG\1M>T=_W=\]6U,X`UWD>CYPK345ZX9'U[NXN#@*_Y4V]=#`"^GOL`7\T&M1 M\M41MF#_U8V;==E/W5Z_>]([_/#L`Z8#@AWX!">=,,PLX5N"$*KBC?*0XA!\^=&UHQSRR_@J/%IH"ME(# M.$SYF*1U$/4?:G@"O'&HYL#KO@+P=L1TY%VOXI^OGOH>?1 M4:\"0JAAQP,X8`R=<-B_^>V.:N;R"GC3H6NS/Z[_"=`[<"@7WM"_`H0LJ//\ M)W`"*.%>CWX3Z"%)"TAG<#P&_6L&Y;2M1RV.O&`V"WOK(A_.8OH)P3.9@N-Q M<1$Y.IC8D-#X@H87@4>9Q&^,`>`<=.80O4Y]^D^U0SBT+!Q09I^@!2GC8P=^ MA;Z&WVHB>0!<1D" M,%E0BY.@E6IF/B1IJ2*]GYJD]T<"WP"RKS_>H.M!NEH_^%-(=/=9'6KS4=+2 M003>F4G@+5E4^D&4KX8!$"Y97!TK/(%FEB7L6LKIP&MMK.ZYHNGM\?4N4/@- M$G_Q2,,.G\Y-YDF^L;A6OE%(R8S%1"ZLWKY=[_2@4?HKHJ[&4B[*YO6'Y03L M$\'O&-MSY#C2^:)!;BQ8>L+K;?IU@J8!C/G*SRA8L3'7J>"$^Z"U;?#;&ZMZ M@7@1#I_,P>$.@3%RD%X`&"(]H5J%V\F M!CG.@O54*R)6TYJ-D(;L9;K1V003]DMFP:3#BQG0G#V9!>.PX@A-D(=F^J$'<"NATE&#>MIGP M`8:NG6L359*:X=I(Q9+$9-H;5=MDY+74W`Z.-C+2?_WQA_7_2DJD?_;I_[-D M">]A\O`&R3+F*I)1+^BIZM1ZP;`U)Y4]`P=Z3_`=N@&4Y]ALMJP[_2TY/LL' M\/39735O-#M1H.K,O./*:6+:_#($7T2\RO;N=,,VH+`IFXGI\+\3['F/!$^D MCE.R58/;$(=9F>7G,/IZ0T#/?YB$TY)MII"\(PMZSW27E`:#0B*S`9%)JYX0 MW=HSL9:[J/L:Y7;+SO^S;6M.RX,N9<"A:AW:,^0BSR?AI^.('=E\5E`V:%)" M`#+Y?"KIS9OYS]"A?;Y2EN\!^0X34LJ<$#%1&V"2R6S>R=`(OA%HH:4^J67- M,/'1O^%_2O-.Q%1MP$@J=9EG0(+/3BRD"1S&*5QRZF+7`MY4]-%)V-YD92LD M->^\)LS:9=LWNU:PY'8EI&Q7E)&9#)">W.8E]:R8NW4M/(-WU"73<5H2K4U` M)"N?Y,?QJEIVX26AB;,\XZ_$:J%A\GD83** M/K:S9(U;SPM8@1>V94KPTR!N$X`ZNE"[SO6?;S#GILABKB!L$W0J'9CGBJ^] MB!LJ/@TB*-<23C"!RW8OX`-ZUQ\^`502Y`*RN*4*#',)*275K1/* MO-PNI+MA=:,V:"\U*%/HXR7=0<-=V`;4I)Z3!FV&=(_6"KC2[9I<)WD,9[W( M"E$W[T0VROI=21/9VR5TH?R+F(+0=)A55=&C8S\2_(ZH*)>+/SR&_\J/&%HT M3%3=3\K12?W%VRS"KKJ,X/+/6S=[/UGNF:K)&TT1R0\@9R?64)&).3U'.H:^G1LT=OFF;B"O$Y5V] MDW0[AW!**>JS)2.`5%6&+;2""SO;.8Q%=*'LB5 M`]!,&IKDZJ>E\!946@R\4:=.SU-`X"5UL^TK/&,6JLK$%Q"T'$J1&F+,C'J7 M9;7H4S,;X6#L3P(GCI$DR$G)6HZ?7"4QBB6]\B+8\<)\-3R9X(D-Q[Z-O'!X MT8XG:-U2'*0*B-5OUCLMB2LX+,-P[(\BAFF$,T/!3#*3U+0MA3&'BF)T%15#:_]D7R@?K-5X;0@=`R,Y=VD$&)Z4 M[+.,MVTN!:^3FLO[@45X^/6"A]8_`2)0^"*0S/G2[Z399*F<0&8CVT&Z4==5D7E)QQD!S'`ZK:=N-JEHU!MZW M$W.X"E0C3I3KDD\HY2%F%_% M!V0QVN;@!?6&9T0!;K1T"B$QN;E46YA_X4R^:D%GFK`=53D&8F M7+TOM'G3H6NS/]A)^3MPV+[_"`G"]F9FO`3A7-TTB'01<3E?R+2_L1E>$:1" M=7#/@36/YW=0'=RU1+,0J_"2_Q;7^\/E:9F&/6)OSSA>7_="/X^TBBO\O'%J M_M!,4:,6&83I;Q/RTG8*PKH_F$O82>9A1%=5OU*P7N;0>8?WV/6G,A=M MRXX;S970`W=S?F^K2A.O]^>3Z;\0D)CP,I^P M:(_[80=+Y>EY`*9;P@T.2*F&$':X%W:P5)U>?4KCS8"V+=<,6(?[80:AZO0J MT9ML!L,)=>)+MX5TKSMO$!M*5']PB:R"$R=N$2$FBIQ$X9=N@,BAK"(^Y`Q3 M>W6-Z))K^)"!Q-PW&M9?!20:GMFA-X5V^'B7#K]I@D9G'E_9V6H>?%%-#+M6 MO'[#Y#NK&X4MJ&=&:8(VP;(AJHF1T(K7)S"_!VS1`8X6*JGV;0(E+:B),TF)J'NKHA621?/%O&L$ M:RFP:RU+/6O-@W7K+5]TXV^L4F[TZ(PPC8P8J8O&:MG+S/I6`1!5^AZZ]IH# M_K*H1]<``+D$$D[6`@"T5-`TT4: M+V#\"I#^*B(B;!=\*BV8>"YY&7C(A9Z7R%5C?`$3"U'`U MKEMUVR[4M].@=N)$N9X2N^;H1Q>/(Z>CI^LD<6FK\(^X`]5>(&WLK^MY7P%" M%BP'>B:H5*A%5O<<3]XROP=^0$*S3EZ2?*1ZM]`;<&[='+FSV_7;Z"S7@75S MHF^I1A,=L%PBJ=-F"W6WVW9@=,IL?DD4&;,%.]P#$S`W6S:W+(IDV6+][;X) MF)LHFU\4>6YDL?[VP`*,S9'-(8IN@FSA+G?9#LQ(C$TRG/?N))>VJN`O,]#6 MSY/A!7#\15RW\2:@:,%[Y*)9,(M_'`7"1U=TR;=_1DUO(/$Y3)%>&IEX16!) M/["64U7EAF';X7?KTM"`+0>\*+M@1SN-8E)AY0946P/)'/R2H%QWM>M@)I16 M;FBT+9S,62\'S75/.PYF0F7E!CE;8TE]K9*P7/6TZUBN559NN+(=EB]32"!@ M/O264"8ZVFDDDPIK*-A@E?K0,M6>5::)OXQ9^9-S-'JJ(A#1&+;NA)>X4%-8 MG31/%).WA]I3>?3XTDCMR==1HV<..>',)/[DU)F)WZ$T99#&2\7[V@/TJPN< MZC8`69RU36_[8025!5PUFX$L/MNBL[TP@LH"M;IM0!+7;='9?MA`50%>K38@ MC0>+][4'%F!`8+A\I/$%?*SB*.T,1!YI-05:LN/4/!,BMWW%251A)\HMEIB] M@K#N&1VQ\^P#'](P^HZ.Y!001T'?Z,S5@VISPFHJQL2H+6+]!K($YR)H"BG; MBZ-8&2:&72,X@91M.__RHJ*LM[A$S$UJ%A472JN;!LL^:,*6?P

38'["F_=>-&D#9:53-G-O*5*'0?/V4-C^6TL3^=[95BYM&ZBKRR0B^], M29\%R]O37MF)6)\F?K!0&/NURQP-N_".)>AGKPQ"I,M:DLR4BQE![_27=[BJ MTZ!TV/1[VBV8"^O3Q`\4`CF^8A9V!);/RJ-'NKN'P&&90]#WI*;@]Z3^.@L;;F%8A4Z=Z"6GVWK]SW1/_Q+_%EE; MLEH/-;JXZLL3]'R"V([U/`4$7@*//:6Y;LJ>U13M%16/VO`-.PV@4WM&U1B8 M&+IF9%Z54LTS%]9$[8%<1P,FAH<9?JE/0Y`/Z+;$AR;$KI1-,YH!( M'[`HU-T.H*RE-1,C08U5BBY'D+Q#YIJ$5::8EQ*?>=Q@,L+!V)\$#OTW=MTX MEW5L/]@.V$X)&CKZ;]P8*GV&M!U&4I`U+HAV3Y8J& M*QW.)&,7&$*!S:J`VLW-]%G)N4YK9C.\:`PEZ647C$&FI#(70]VSLFDHFQ&CM5'J'Q'%EPRDPR0#XO(`OE:T)UU)6W? MB;&3+_YH;-XBRO8`HJT+S4>.*L`D^3I3/DQ2E#N!25H7:E^J*DS8@YISY#C% MYPNWAYW`B*\;]5%[5_X>),O48"R,:51+?_P_4$L#!!0````(`#%K>T+VN-]R M`4(``.C:!``5`!P`8F]N92TR,#$R,3(S,5]D968N>&UL550)``.-*U-1C2M3 M475X"P`!!"4.```$.0$``.U]6W/C.)+N^XDX_Z%.S^M65TNNFNFNV#D;LF77 M.-:V'+:[>^>)`9.0C"F*U("D;?6O7X#4A9*(&TD(235C(J;<-@#FEXE+9B(S M\9__]3X//[QBFI`X^OL/@Q]_^N$#COPX(-'L[S_\^G3U\>^3OQ'\AG<_^>7'G_E';N.=CWQ9?^3GKY]_^OKERX>1Y8_\ M_/6G7^Q^Y,O7L\'7SU_LLHM]Y&]?AS_9_LB7`6>7U8_\]>OP,Y.]W8_\[>M@ M\/7+9^L?^<*GL.V/_/)U,+3]D2&;PI8%SS[RY2O[P?9'?OXZ_)OUC_SR]8MU M=K%MY>QGZQ\9?CVS/H7/_GJ$=?)Y\'70TJ'UE.&D_)6_KK_"5LF0;2WM'"BR MKWSF:W[SE9!$WY]1@C\P'2%*_O[#2YHNOG[Z]/;V]N/[,PU_C.GLT_"GG\X^ MK1O^4+3\^IZ0G=9O9^NV@T__IZC?XY9=?/N5_ M94T3\C7)^]_$/DISK45)UP=A"_Y?']?-/O)??1P,/YX-?GQ/@@U=K$V0;CY3 M'N#+I^*//W!V,7;2.,0/>/IA]>.O#]>'W4B4?@K(_-.JS2<4ANQ+G(:OZ7*! M__Y#0N:+$*]_]T+Q5`AQ_7U.^1=.\U_X:)\:4,-^QA&?,A\#/$59F+9(V^'8 M+5$:SQ&)[!!:#-V(SGR(CW,\?\:T32)WQFU"X0LCAOK9,_ZX`=XBG56C-Z$V MBM-1JTMF-6!.TYH@U>#/<<2WB\%P,"PVB[^LM^)1%%Q&*4F7U]$TIO-\B_KA MPSXZ3M4S\E-,2?2C'\\_Y="D8S2D[R*.DC@D`4IQ<(Y"OO$^OF"<)KK$B0>P M1=D]HHP9+S@E/@H;D[D[6HLT/Z;L_[G8DLETPN9Z+JY:;!6,9(G6BQ<4S7!R M'3VFL?_])0X#IBQ<_CMC\VZ,I\0G:5,,&E^PA0TE+U=A_-98#-N!E)3J?>@\ M2TB$DV2,$Y^2!9'4 MD"[%*%9I-)2JWF"-)9PR59L\AWB4),S8,19S=??&*\*G&0YN"'HF(9O7QM-/ M/$!#RF[B:,:^-1_C9].I5]6U?6JTM]7*OBW0\[0[IO;&6MFW??X8+D+)"`UI MRTU;[CT.+N+Y`D<)JG%0RP>Q2:'V/%.,8I-&0UEKC=60WM\1I4P5-=W/]KNU M2X6V+`_ZM4N']EYQT*]=.@SGC:!W8P_5?$[2W)O$-("+.#=<<.2;'X8:(UFG MU9"E^@,VUG_8-_$3>J^AX1[T;)T6[859U;5U:K279U77UJG1=@-5=6V=&L/Y M+1Z@J0^"-8J7&)_C"$])>A^BJ":)&B,U/;NS!6O%%SD*QR3QPSC)*-ZZSDN7 M6*9JD?G(#;$\X)#?`-PC9K`]L=,@833Q.YAZO-<<+:"02XH?D+/ MVSDCHS9OZ`WV13FBNS0CZJ]'6UUG&\6'3&D\UV#7^I.Q@M@/,0TP_?L/K$>6 M,$KBW.O*IW=Q1?[59PD23E6MH=FE<)1M34&]H0365H1STA20A?BVEP M(*=CL/R"T4U1>,TVH/?_QDLIS_?:>F>=8?HAY6NN#X_,]8N,\CB%*W;PGQ:_:?.9GT5R3$]()1,HNI?,KOM/2^=(#IU72O M^?W9S2;#[,2XB!)Y?$$4)Y,LY<&A/`U%ON-(.GI_[8PT%##6POER9.$PG953 M\+BA0`X[;;R_=8#E^Q2ON?O7(W-WK:,_L6$%S"TW\7[N`&_W"%ZS]F]' M9NV(T1!P.JY")-I`=MIXOW2`N?L4K[G[LZ.)>\]LSCB0ZR>5;;W!3QU@MY#T M-=]_<<3W0E\JR+IBOZNRIZ7MO8$52]42_RO)WQI%3H7`E59]$6Q:>X,NV*,2 MXC?L=V.4_H[#\+^C^"UZQ"B)(QQ<)TFVA5RI*@KZ>(/N6*D2"!N!'-M>+2C[ M+0ZS*$6TL"M$JZ&RK3?H@JDJ)'W#>#>6ZLJ$?L"+F/++-8Y'N!O)NGB#[ABO M8@0;:;BQ8^^SYY#X5V&,4JD(2NV\07?,U#VR-\P6V*6?=N\TVK_E$*LL+^X5&[KRC, M@UC2"T3IDATYOZ$PDRT;K?Y.+T@.F5\M)%TDPJ5V]%53Y(+AJ] MG=[-[6P'@9+EV^VFHK<*T^@TNU#W@]G(-":AKVC>X0W@!Z^&8= M1'!4@+6G[QXM^<:K[^;<[>`-7'H(C%@O]W@>P@)C'XTS_!2;>J7%G;R!2U=" M"R*30X-C*AT6C-%:9=5]O*%+IT,["TV,#,Z^.,:4J:(I><5&/(%TG[>$'HLKS8,\/J%EA=0V=<;NG1YJ*5@I%KLPFK!ECZL MC\-_S869M.N,!E4*1(5K;TSM\FX4C97RT:``LQ-1JFTC#)G9:^I=^8V M,[>&-*H@P-'(1D%`BD_?(Q)<1RL]OD2TS..F[.R=N4WAK2$O/5!P5+8'7KDS MPL$EHA$[)1-F"V3S++\6V[R9)I2@NK-WYM:!4$.">J#@*'V'((V4!^_,;8Q$ M#0E5@X"C-:B\C0TB6[PSMT6S:DA+!Y+B)L)=WOWN&YM]$KXNQ7T2/N`D_#", MW_@4OXKI.,Z>TVD6'N9L:MR8FHS3G11^0U1PE/%=PXWM7!.:`P]RP^$>T[P2 MI[;]*AH`?!%D8SAPM/%=DHO*J:,L?8DI^6-[H"E%M]\1?.UD;1APU.XJ4O/J M9:9B*CJ!K[2L!0&.#EY%IKP&LV9/\$68]7'`B?\IN4=JG%L:O<'7<3;#`BD%OBJT'@8X@4$'="I/*4$/\"6EU?2W76"Z1:GH'4[2NOK@BU#K MHE#4HSZJ.VB#*YE,)PM,B\BDWA74NX).P!7T@%]QE&&=BHS[33OCT*D@'([/ MYA&%/'4]IY!7'4CDY4JJFCOUQU0Q5[!RJDD'$U901#\N5Q3*%L).0Z>N%7WN M'Q`-URZ3.I-_()J./[&BSA))]-\.?*[.4Q?B8^3QSB4FP>B3DY] M(_H2D0*`XV'\1N,DN:?Q5!J#46KEU,FAS_Y=BN&X#%?:?31;E6/4T8J$?3KC MQI`A@+-1?<,1(S-DRW44S!E#.8D\EWA%M&Q]R'LZ=6I(>2]8/$HX8#2J1QRR M,6>,U%M$O^,23MD9+^SDUKU10U1R*'`4L#%>4.R3W+'!Y]6+(1\E+!>.E[=V6.S1@N1(%'/TK M+U;&=45>2[.@3+0VMQ4/Z\BE"@&<^]P->=>1 M'\_Q#5/X=<2Q;>VVL&$3@>QB@'-1>Q='\2Z-ZZKS:BM'V1?^FU]&4."<0==1 MBBE.4K7BO-?2;>E#/2Y72Z@""!B39EO$ZAMC`U_DDVC[.[GW4MG7;1G$)B+3 M@@;'X/F=DA1/IM/)=+P*D>))]3Q(@,?]U$9O(40\;'*]0KIT* M`:MT=&%'MV42FPA0C0O.T59';A)H+ET.340FA03'O-JJM5<,?E%3(6,D;T-B MSO$TIKAH]X3><7+YSK`S`"1"=)FK9;R*`^O)6!OF:(N#7JK46/NJVW*,S10D MJTR!8T5N`*QXU'74D M(+AF5J("9-<4ZIZYZ!0]W99]K"\[#5AP[!EF8&GYV7;:N2WM6%\R!R#@F"/K MBA'K1`V-@TK4Q6T91Y,32H8`CBJQ3^4Y2HAO()>\O=O2CE)&Z\EF@P+,P;-/ MX9B$62I-3A'T<%O4L079E'#`.5DJ)]`H"E;$YNZ&,4EX#'M&M0*F:H[HME!D MD_W0`""/1.JN:*I+6=;+<7UI/ZV3/^R'[+S.!2Q*5$)!LV M[XI#3KV]XOF/JP_%690LL$^F!`?C?,,5LEC8PU("R9JY'X,=NK8\5O"NBM$R M#%UA-G=SH2Q,+3-]]1'+7-^`L[NC2QQN(GL-G>2J:4S4RBWD MD':++$4A9LK%MB"`@K'5S9UD8=9DKQ!!&V:_.,R<::!\-4ZF^6O93[$VRW7Z M.LE!KL=_33APO,J;#;)0MAFQ"X:#OVU0K<5H];.3*MBJ/J.+`Y"W;)=`X;DL M;6\KDT.I`VGS6^#W$H$!X]5H2SR.M29+$Q(0Q+;;W![+Z50IU*(^EK(Z[6C3,A!PUDF) MN#LT9S\^410ER.?D*!4W=6=;Z87Z2K94#`+1:<$"HR_8%R$41=R6+.&IY/=Y M3A>^#Y&?;S;*,ZRZ@]MT:\UU5"TX,2`P0GI\B6FZ?BKVB7U-=:Y5M;>4T6OG M3!,!`*1O[).HW@&K>]A*$M4_N83,UA3.%@?<%=-`.E`.I=;$!.\4.J_J=NT>-E:J!9+%?U@Y-#TY4&G>=+-GBLNYT&[]P"91.0=!ITYS78V M$D,5Z5:+)D%J\\C#/*9L8]IB0N MGDVYPV_Y7^1WI1K]W60,:PM#LG7I((-UJAQ27"S^!L+<&\!-#K`=:59`@W,X MC8)_94F:1W@]Q0)/?1Y:+;VJT!S#3:YP0ZD:H0/DHY5L+>4HF^+GE#`;_A'[ MK"5_"KCF9JP#6CH9:TJPU-E-;K7-!;J!!2>M-YIV= MFL-(C',C=]ANHOQODYPRZ7%>>RSO[,3<2$*4&XD#]RNU)'+)8-[9J?F=A#`W M0G?OB-+12?823G:\W#Q^JJ%BIQK>.^N@(ZLMX)NIXM[3)=O?Z%8 M'L+[W$&/EPFXC5C=N[VD6U@SN1Z.X7WNH%/,"-U&LDV<9"ZK47_ND#-,B&`; MFP&M>!]*7J["^"WI:_3U-?JQJ^$K9#SY:\)K]6_>81QQ-;P M:QX%H?.ZH?%@=JH!VGCML`XT.*&#]8X2EV^[U&.XSO%R!B="=\?*>,!LI_!) MB'?(?8K;6Y\V/N>D8%R=%6P)/)PHTO+;Z^SG$.?"J/4,O:B[D^*+M@58/5TT MV0%G*RG1Q5^=?$YY@6T>I7%/\9QD<]F^H.IKJ9HL1+GK\,)B?M?H*T64:[W%%*V0`G$#[]6O-ZSHT4;`.Z6'3\1'35^+C M9$(O0D2DSABC<=P6]3ON'#!F3!LQ_()SE[_BRG"1U?.M6/B`LJ2UVRJ91SQX MQ?#;B-`72&AS&$QC&C(P.&'CK@X#IJEC\LH==C=5O5'[4?;302C*]UJF&"N*'0(?L`A#[FY M1U11Q<)\,+=5\HXF\D/0<,(0#NG/'X[:$F\F\?W.;@OP69)P%4@X%QR']%ZO M/`.FR[?4SVUA/TMRW,,'^;1E)AQ3^((QGF)*<7!9^/=&4?%PL]*%4F]`-T4! M+0M=%SB@6P_A$7./EK45KU5?-Z4"CW0$ES#"*39422[-<+"V]VMH67O=W50* MM"_4"IAP"A#IAT>V$J_KIAA@JS(V`POG2D-`-UL/XJ;47T-A54O>##08 M?PBCTLQ2>/$],9P4U)0#NBUD<,Q^UQ,#\-[J.5?=W4 M"3S..J[""L?WH8^]E1/931E!*X(V`PW'52*@^XI$*/);TL4D@[DI2=BB+J;` M!L=L+A\SVS#%FSB:K1\=TCR5JSN[J5C84#CJ`UD,%HS.]8`7JT-&6YRB+FZ* M%EH1H@PB'#6J3&7N/ZTAP(-^;BH16I=B)4XXJE.9U%QU5SN715WN0"-UD&._SR3B< M3&$#RC:I)GW$F$/IDO$AW[",);[7W_M\,EXI;;RJES*LU_P\SQ(2X209X\2G M9+$J^/28S>>(+B?31S*+R)3X/*2@"/GCI63CD/B,$6.<(A(F@[XL:%\6]`3* M@EXA0O.%>;[<_/@/@BGCV\OR!K_B"JQ:P-B`P5UT;,F]S=;JH8'Q(^S@_$W1$J3..I9JA:SE^#':H/12G MOI@48M8$^V>7MC?&4Y2%J66IKSX"1>P;U/#$?QTMLC3)(0]N=_0\F;`/>SFM MZVJ\"A52K80'6G;#6K);]7):IM6B[+;PX`0E5-%Y5DMXJUY.:ZU:%-X6'IPP MA%66S^5\$<9+C,]QQ)B>)A<9I?(P>WE'IP58C6IBJV`HUED73/+>(N\M:17D=7 MUJ\N2\T$T::1ZT`4CDU3NS)ITP(5R.977@^L>/PJ$2JT@I9.K$?]^5S!\TH, M]IC[@)-T,OT]9@>+G+<'#9T8=XU86P4!C@'WB$*>.?B*HXS7UY.I/[LMG1IJ M1IK0`=TGH-8/>[V^U^O[F[;^I@V2`[>_:>MOVOJ;MOZFK;]IZV_:.BV[_J:M MP\*#>-.V?2VB5%)/?<\FZ]:96S8%B!,PQL]Z8[PWQGMCO#?&(>EXO3'>&^.] M,=X;X[TQWAOCG99=;XQW6'@0C?&UQ9>GU1?/>6X?`F0_)23`Q=W^*-U@4AOK M38;MC#'?$.0)&/N?>V._-_9/R]C?/'YZ$2*VM+5M_,-^W33M*W'`4Q1+[M/5 M01U,H@?LL]V5;5/G*"')KU'\G&":%X'/3^'UVZDDWY/WH>K;A;:^#&/EOLR5-M M'FRPR,5K/!`,+\B1I5V'2P"=*27WP^\D?3G@4+++HF27H1N(^5B&SN[&W^M, M.+PM]-V?3P*`WY@$;N(DN8[\,`MX);!+1"/63,M*LDU#9SQ'Q^2(PM?8!3?3 M$_MLQ@CNG4V]LZG[SJ:#C+GSY1/[IL+5).G5(4>3'`48*_^`3$ZDTCZ7]'+M MVE'P75-8.WA.65A`W"#M2PU>V(8DDUAYAZSLZ]3=H5@^U=+3@01&=A=9DL9S M3,TEI^CIU'%12VYJ0'!L0N&3R%J*B$9O._:_%85$#TT'9*=UZ>MF1#:VLJ MF@(QE.8./C#[YQ&$"423L2]5>)K->4;"@$0SY6&XV]!S^7"6Y@*JEM,!#GMW M*A?Q?)&EF"9E&N6W)Y(NGLM'K6JQ7`,1G#/K`44SE5:Q:>,-K#Q*945YV"$: M3DQG3I9RURFU\@9V'HS2/O1W&2EA]I9>,-M\'6X#.97-V0[OE+UEK)MGO9NW/Y&K&'Q`,A^7H78_EY7;>P.6+59HLWR<8SAE:+MSV+8Z#Y`ZG M]^Q$8X<4FDEO>J0=O8%+#UG=RG75.-H0EC"$)[^9Y+>QF.2WLU+>*_MX`Y<. M+AVV:T&`H_((E>A?$SS-PALRE:T1C=[>H"LQ+9I@X#PB?\7YB6_(*P]<2-E& M3=A$&R4)UA.>3G=OT)G($$TT<)Z#'P6O;+J1A!G^E^\+IGK*A'78V!NX]'<8 MO9!023N<]]Q_QV3VDN)@Q,AD&_1=QJ&/29CQ8L8OB.)DDJ4)FU/<1S,*_I4E MZ5R>Q5=S1&_@TI]B(M(&`-MX\%V@;8Q)DI^[D^EEDI(Y@Q/B"I2-B1= MO*'+5[ZU=0T%@C8>8A>PF^VSF$DZ?6#?G$QK,%][`&_H\F%N;5$8X6GC9751 M8?1XB<)TN5+Z2_&#(D$(.WA#E_:^-N.E]+?QQ+F`T5=9FE&\^OHFJE3$Y>K6 MWM"E?:_-8C'QJ@?%K0?*I$,!L4:@P'B`R[0IXQ0.&[N.AC5CNEIP\&)B&PL(R@V5 M)4D=(8V7[?)^'$;LL]\OT(*D*+S*HN`F].5A"HIN3B-:J^=\A9:E!F&/[_<9 M]5]0@D=1\(!G)-G$8C)+/QG-*,ZW9=F[>OHCV(E3;?^)/2-$%N]1].B0/_=F M,H:E1%2]1_C,F%Y;:ANDKI=4FV*#\&#?D>5WA"-I0]"&>"EE\H.JUF!.,G1K M+2:9/`T1@]$*'[/GA`0$T26_39],']/8%[TPJ^QC)T[5BI$EPP#G#KM$VQV: MLQ]+"J]2AU=WMA3DJFUT284@D)L.*#BKR[;\@-ADE@0)+[3P/J\7A.]#Y,O/ M0WD'2Q'-NIYQK354+38Q'C`RRH%=)TF&@W'&*V/<8TKB("^N<8??\K_(?=@: M_6W%1UN(DM.%`RBRL9KDXOJ]@0CW!G`;\MN"#"OPP-%=\K)M:9XZ0B%(0[.EZMVR:JAM.Y%LY'=AAV;B+T%H'!B^CC>R?2"XH"D M5\@OJJT5T=7G,:7Q&YO6%VC!_E)YSUQGF.Z$,INB@A/K5T7Y:)Y'AVSCI`SE M>=`??G"T,1PX08)5)#]@SAE>5:SATA0/U)WP:7-<;40"6CR%+]\Q]4F"F3+O MX\T?:Q^]BN&Z$VE=%YW%2$2IYG?-N8G"BW@^)Z+`W1JCP(^_K@G*8F"BE)A1 M$)#B0PU%5340_-#J^KC:"'!LZ9",H]D3IO.UPW]+9W&ZRXY%15?XT=@F2)S' M3):*/:]JA?81DWW$Y`E$3(KSP))S9BS^*Z9:[]/HC]*AF$DS5&!E<#`2.F)H@#/$?VN%M%^4[ M/;59<(`S)WG!05X[1"+1-H;OS/LG+8'MXN1@1BQ-R1_%2QN[BZ65V2$9OS// ME+2%%LX]M3XB/K??2!@J/3YUAW1:Y]/.+#@`".="VF`JY[,V;T>WOJAF>\'. MD$ZKC5I:_OL`%5?6#OR"@]XQV#L&3\`Q6+$HB\(!ZZH=Q;7+A/)_.>(\]H\M M4#*+3+O!REFQ?GS&:`>CQ+SL6C"%X+'3SE]2*> M/Y,(K1!LZ8ZJDM&J,X]3;5D:T>)H56ZD`Y&?;*2:^6 M_:UE?VO9WUK"N+44O9Y3OG\;18'&A9=6OV[?3NI"[,(*7?OC<_.V*%9\Q[2& MIS<@?:3JUM39AP7`%F4/Z)$7UZBUN;`:OQ.G/M61<= M'%=`#03L\_7*Z$M'[,Q=9GU\<"ZQS#%@)VYN:P-#T[&90T(K&V[ M(F=M.W-G61L>G!1-,PBC:8IIZW+?&=5Q`1-KTC\`"2>34P+D#LNB4>0=NU/( M1(U#D8?IP(O_U-=L[WWY)^/+OX@C_M3;NK1A\OU\>8XC_X4[0Q0.?%77#GGM M-:"`\0<=TKJF5.FB575U[8S7$8.N``^0_3D$",2I;E.21W"=?Z-QLGZ&]/+? M[+1/)O3RW<@\#@4/1"-R M,P-.,3G:Y;U$C24H4',K@8&14I/D:)>7"*W)IP(5G&.T(LA]G+_B6OK%YH&* M@41V9@-UYX;`')?%YY`JB-D61VN6U=/J^/"O#5J'VT:HA[[4RY:8@3#+W>#7 M-]=%`2?>8IW0*CD[]EZ0_S7!TRR\(5/9K4:38;M3S[PIRC9B,/17X`,.,A\' MVXRPS=O0HJRYFB/!+U/>`%@;010:[CP>F96\Q&&0%'5%=?QW^WW@5QG7@J`( M6;!^"WX=,=*8#`E.^@*<_?7WZ5Q_KR?V\@ZGHV?^Q)\OB[NI:MZ9G'@!\7#, MV@V!#^CM%O$M"(6R95[9WFFFNHC%"H'LT0_&"[0A\/>8?K^.[FGL,V5!1R([ M'9S>;]84R3X`@*M$M]9==0>G5YDUA;(/`$ZFQH;$7)/3$4;>T&DN34TAK`F' M8\!O2!L%_\J2O'B]E@A*S9TFN-04Q"[Y<)(9RG`T=2FG=SHUV5^0#2>A8$M8 M'/FK.IXF&NU!K\YD@\@Q6/3Q5A],6RI$'@M5/[<7+0IV5K@O=/#`4VJER[MUC5LX"TW3) M:./W9XMY05KOZ>L]?:?CZ5M/\OL0Y:MP,]//ET_LVXHP4HW>'4IWT4,#YL06 MDLN)508,:O1VG?>B*0]#8>[@^S,)$TC$IWVIPHON_`V_$#_$ZJC!W89./<2: M"ZA:3@WH5-GW,FI;[F1C*28X-P&W&"48!Y%=CU?T/@UMPK5`I/T ME&OI_-LY"!"\9X0;%/4%$E:!'B MG,514*Y&)80F$6M;GX"?-6`#,1Q]4TBF_(9WL]<@AT#`2.,"+4B*PMP)$!09J2IS M6M2E,V]>2`#`,:#+1"8WF%&)SQ&;?#Y^?,$XK:B-LV\.[7P1)^EDNMZ<'O`"$2B-T!G$KFUX<#1]20DJY1Q M55>G"=_ZHC`6Y1H<&$-*]NS*5H\L7\_4DZI@,*C/3C:5LQ@NG.5;@?GRW0\S M'F['<[W>R/;HJDRB4G=W:ELW%:\F0#A657FF3:;[Y,NNI*4=G5K*386HA`;' MM))`OFO8::`IF.FQ9D57SQM[[Q([C6:%,C_6G.B$ M3GK4-XR=QKJ"F1XK3@!*(#'"<)3WCH$Z#H\V40[8`2=]16[+UW;UNRW+?729 MKQ"[KAX]\GV:X6!=2+PO(MW?3Y[4_61%%?UM^7SV4T(8N'Q1C](K1&A>2/]" M67JLR;"=N8GR.(\;Z-%&+6=[1Z>VF8>:6'`8<0Y;7 M=L8TX2GP[(A%Q3&W>N1"+2^-WDZO*DV$IH<%CHTY25\P/50GU$*3=^Q,7*\2 M!AQ[KXZ4Q,BZ$H$K0Z"PKJRKX3=Q-&._FH_QSF%K8@&26=B.?-K,'A24PGZ(R];M M9#I-7F))42ME'Z?6A7B>[_)=!X4]EM^2P$>+410\,BV,'5V_L9,3+\]1]%W. M=E4_IX:"$>LUD%BL_F[(=A&-+K5^(VZ+`5A\?6+[MA7_=DU1S$;0A8C7/6`!><:H,W M,8J2>[14.#;*S;I327"?:C@717QZ/:VFE]HE6M&Z.]7\!,3#N0GBA%U'24HS MCNC7"!4!&#@8D\2/,ZEDE'V[4Z)/"PJ<6Z#RM-)ZQ*NZ@]M@H+KK:)=^UX4' M*NX4!OVE0G^I<"*7"NM%=XN8^IU?Y_&R*\N\@#0OQ4(BGRQ0>!T99%-IU&PQ[MT'O-G#J-A"&[RQ1F"[O M5UM?D:EWRS@YS^;K7XYE^3PU1@%OYM?#9#'B1).6ZXA9G/RTJEKL]08";YS7 MAF4Q=D6?'&XOMB2PS5#@S>L&P"R&P&@3Q&V^=F2V&0F\@5P?E\6X&7UZF/+> MDL36(X$W<>OCLAALHTG/TPNF&''3JZ'`M@.!-TYKPVK#)&TFKH9"`F]V&H*! M8'[NW5KW[_SU1B@$([1/B.L3XOJ$N&Z)I4^(`Y*=U9G$.`TD]MC?4G)69U+A MG&3`M9JOA:3B[O3$Z< M`@6<`!1>78L1'*63:5Z_:?U,0!SQEQP1KW6GL,\T1["4-F?%9C.`!"<46(/H M.S17&Q)&X]C*N=.V^TQ$55O8NWC!V(BN)`[$I#R^Z(]@?N9>WU5B&W\_EZ>* M3BB9D2@O@'B%<2(_/[4'<)NI:;[J*DY9(ZSV9'9/U[&']Y@-R*,1Y3(2=G"; ME=F*3*38+-JTNT&%YS&E\1LC^`(MD$_2I3"R4K\S_)1,,RQP5)?]%%]&3:`O MP1JC>`/H$1LU05ET8^Q2,@H"4HR\H>:&S(GF"A/U]@:=B,O0!V/1L[%+Q!@G M/B6+PMJ\CGS*S'Q\'?V&*.&VS@-#IB<:C8&\02>B,6KA@I,*)"&_3/0Y2J3F MN*OPKFT M);G7SQMVI8R4$L9:4C\#D]1ZMQA7:R7J3MX0>@Z*'H:U@'YQ+B`.93*]H)CI MLE?,J."/;)2.55G@B;RG-X2>@F(`9&LR6XO673E=$CGS%3V\82=<%7(`&V9; M\!85\;^K[V]>E1$QNKJU-X3N1%`0OV&P^](F]S3V,0Z2*X8S]SWR?5.RZ52V M]X;0O0=*\C^B`3I,DXWK`K'@1C6!O16O`A<`T1 MA6'N391>5!PT](:=\!94TKWAJ'L?0;X)ER^Z5CJ)9%V(NGAG7;'\90@VL@%G MY1?F+2_0H>_V+'?RSCIJW^]AV$A(8-U;3U1[3&/_^S-*<%!^HK%_O*W/53N= M7+7'%T3Y+<+N'!]1IB+,D,TF.0PDTF6LH,OC[V]RP0A(=:^ M!;Y0BTWD<*(;FJ+[QO71Y#HJ'+S?:)Q(][;VOP:^B(Q=['`*P.8G[G62,$MT MG+&S>%80FF-*\C^N@%R^8^J3!%==0-8?#'QEFD;0X!1];3J-KV(ZQ81[_;A= MRY1Z4CQ2OYG9%K$E]J*AV'`O#5B([/#SCA/DK,B9$6:&LFMD<% M^`),;G@")TRI,>XU-.>3TH@0I]FZ1YV7IFR!$Y=E79TR,RQ&9@GCTE.M=G>"SH%2+T-Q2*:W$>DP;X3[@Z M84DKX8@P]CJI'JTU*1U1TIU7:QTPII5PSK;WP(V'W>DN6(N*CN1['Y\IK02I MMCW1+G@<7Q@R-#378QW/N&;DP,]/=\V=5@)MW2I\KP`4OM>"G]#O3YRPQ&;` MKSW3Z'@VA0D-'2D9<&R6J"*@W<9P#OH@SCZ(\P2"./,5JO'2P$Z[#CTQL$\W MF`*%]2]6MI"BX#Y$D58=0QN?<_VNP8%LV[["DD+O9U*;[`12-]/IE&JSA&8[ M4^L!)RDE3#$*&'@?V0AQ-:3C]<-H:'#F!W`\EZMT+`B=3<9>$TP_"-6<(H-01 M:Z!7,20X<#H7#Z@X_1C=6CPY@2P7)>[?\M/`Z73<)>%T(G3;8X@B]<6MY[-_ M<+7W?_;^S][_V7NM>O]G/Y-Z_^$(G4SSOR:C+'V)*?E#7@VD[6^=OCM0@OSTYM`K,XNY%GX5T]S+ M>82IM/_)T_?HJ1EP`@[E30#<*$FR>7&:/I#D^Q7%N/SZA(T9IOOMTW?8&7#" MXAM6CZ!_BT,V&B^W M?\P-34K$GR"WO19/3J"*4A7N];(;DU<2X"@XYCRL^O:?('G=A!4=JIID6@+E M*4Y1R#0)2J*$^+;SB'4^#S^O_=C$W_SQ9ZE(6`*MR='#7 M?PCS69W6M0MSH)I>5CX*/S'].#QHH_B0S#"5$:XJ"?;K*B9U]9]2`[3%[W0I M<;QEV*V4`()QFG6X/LO)>_WK,P90`:'+^2*,EQ@_8OI*?%S-C$U6VA=9][+2KX4_2PYX@CIH`LH*-&@]XA3+0* M*KPA=,>Z(Z:T4D8'N-I3C@QSH0+M?!_V+#RR+%P7V/D=T=Q2Z)]%[#-*3B>C MY")$23*9KB;WA#YP\[?D#):(3=6U,X\6:@!I(PQ0H&*M/[O]7A$T5KQZ)E*) MY+W`O_.GAZ&-&#E#KLO>V]/K"/YM/6T8%L/%Q)_/:XB:,S_O!KZ$AB8(.#%5 ME5OC3LW^S1^3U5]E>DF=X3H3?EX37!OQ2MJKK-A:-9_#,!X#?%QW'41M1/88 MRF>S";[$A./LV9(.$G#K#=,K*-`!EW^R411;+LEPTNW?* M!-4`8]\0U0GU_B?!H$;9#%:ZSG2XWB7<\5$6.Y( MJY]3TT=KH8@5-QDH..O+8L``=)O(`$C7`@:Z9."(,=CWW!PDY"KX?="^4W=D M5=0KG#''MAC[`L^]W7@Z=N,##]Y6V(>;-AVR`\LT@U%E]R.Z>V MCQZ_]\@%5!DU>V;&-D%T^8A"/)GF%^Z*0U38QXXE9.50E6$`))TM;;R8\V3Z MQ-3WA*GUC!QU^7IE9TOVE/:9+!6"0&XZH,!L9];E!^2@MR1(>/K`?>YEQ/-;95ZU3<\C=BN%MT6%L@U5T]$0,XQ:[*"=Y)=YSGE M,56>8+L-W9:N%:R#:D$<$F[O2O8N3O$_XI"-+GX]J+JAVWJL6@P5$V[SIN[I M^HI$*/))-%-<:Q^T=%MZ5)^GU91;O(B[(?/B)=QB92CF:G5KMW4W]9DKIMYB M2/0M"7RT&$7!X^NSG+F'+=U6K=1G;#7E%F.7Q_@YU=P+*IJZK<:HSU8!Z193 M7&](Y,=AQ&C[?H$6)$7A518%-Z&OVA:DW=P6(C39'Y0P+*:OGM/X.Z8",W2O MA:4*?ZT:F14D6]QFBP\)38V#-K;JWRF-P"JV"!FWI=6>HEJ#D1@Y`97MO:,5NM7,W)0(` MI[;)`8D:CRE7]O"&=LQ?_3LH(;,UA;/%`7?%-)`.$,]<>V*"YXH[IR28X9L8 M14IGW'Y3;^@TCURR%JK%4D4_&#E4AJ9O7B/%?D89@W%R@<(0!^?+IK6;]$?V MAM"3TEL$"B?Z`D(!KV&G\SHTT%GT=EXF*9ES;\`FJWM+@DAAE_7QAIW(]%!! M:,,NAY\/-82>*V*"Q*)S]9ZM4$8HFFUG29$2-'G%](+B@*17R,\3ZD1KQF`( M;]B)HFF&B"SZ:`7;ZH*LTB,E!6\TNGK#3KP+H8E$[J[E_VLFBFU%JF(RC)DV MLZ[Q?Q73_;POH5P,Q_'.H+\66QM6&X\C"J3U:T0Q"GDI_&\,YB1:?7Y9D2@L M$I3!$-Y9)PJP&2*R^+1@Y9(^G#=&>]MA=^^L$V76#-"T\KY?,YF(7MLS'L,[ M@V[6UH*D>N'.>I8OWXE)FC]/,XJ"36$%GQG>_0,)7;MGJU*1EG^"*CM*!9)$2S@<`76ZT-"X[O39/TZ^CI+?XG1E2V MH1B/!;XX:Q-D<"+[]:EG7\7M27DS&OA:K\VPP7'T:=-_%6>T-4%O!NM,<:1: MT.!$!>B3SRS-]L2\'@Q\(:9&T-IP,AY5S$\OF&(T3:47VL9C@:\!U019&P&G M1Y5Q<\F"?T7%'(_KIU/4]G]?^*MW`YR.&^"&<7A6O(3+5J8B.O2P<8=*@542 M#R9^:IW(Z`B)`O]$$?I.Y(D"Y39. MW1*RV5QQ.;)'-Y@)?^PR(%8\#*[+@$`J5-:TQH0=WX"-*B!?="2W005RQ=42 M$)!CQ9:DCG#0W";_B-]P&"HRSW=:.?6G5,_HBF/F@&8PTW[/+?"`>8C3@DTV M?(<-KAQW^W75*7*``L[Y<1,GR=85LARC.9KAY#'.9B^I**)%NZ^=*F`6Y*6# MQ&;]$M0E\M1Q/I`;&8.W_X\8L0D4I7G+2]VTI0!F&I8O+A MW)QMK:Y'G*:%E^T;95-%RT#?Z^.VI)31=B2#X/IYQ>N(_8B?T'L?-M?[RT_) M7[Z9V*,L?8DI4?I!JCMTR&\N!`#&C#BD4&E#B[JX]IV+F:TK''C^\U;%`\31 MT9Z]_MKKKR>@OZ[R%383?.5Q/,<18W\Z>DY2RE:#1'AZ`W0F MS4,;#AQO[(KD*\S?^0T/:%;+3M33:>J&OB"D@I1@`W.6KTC-I^DH"F[8E^J( M4=[?[8/4[0A3B1#^QO(12Y8)48PY^6:XIWCH+YP=89Q&D30FH@UD<(Y117( MZV^_3H,,6I.G&!R^S:,<"YD#&2EMO^C"TZNU,;W^F,6ZQMU'!4#`&RBQ?^%OEUM#YJ M^>51DN`TX9%]>8M1&,9O*/)K3!:#P3M3/J45J`#5EETXU1IT9:AES9$Z4T?% M'!><&BJ*R7H9<<4IJ'T85(_3F=M74U06*RHK=Q7M`J3F(X%WS=7'!:?^B8#\ MNY@;-IF?$J:;KI2+6XQ"7H3ADFFAE-DNT5Q>B*[IT)VICM("4(NO\PETQ%U: MS?7QUL8&GQ_4)E+7Y50._0]GO?^A]S^<@/_A(IXOV$+E+[),#XP=G3@:G?Z= M\1?HHH'C!SB@DOVP_MUJSWW`"::OF)^?(]^G&3]*^;\X6.M61&H)MO4)MW$Y MNI*57UVTP`-P]Y&&F-9^CZN8CN/L.9UF(?L;#SBV,(DD'W,;&>1D.LFY`7A3 M8F8=)2D_,'DN)B7/65%=AM+E-*9OB`9&5Y;GHYX@I MI^6F%W%2I1`>X:M./1LUY\%QV`(GB_T`:I[+K7Y^0=K/J:^C[0U@#Q@`.7?B[; MBU,"&O"&O(U.N(X8YBQ_9\%$UI4#>`.7/BO;DA9"AA->5=],-_*4V/R<-W#I M*SO^;E&+0="])5N6&3M,MEV]`83T/ELSH0)LIQPI]40L&\<;0,CULR5O%7+8 M/I9ZTM[IZ`T@I/[9$N\!5)#.E](]OIF;I:*C-^Q*6J`:QW&NL4H?_Q;'P1L) MP]$\IBGY(Y]V&J:T8@1OZ-+'I<%FN>FL@>XHSHX2'6.\H-@G->13[ND-@;BG M&LME'U4;#@TC@=1?,+M3"8CGJ;%`]E'!\SEL(H_-8O6JNGE#()XD/;'I0@+L M/RA1*G\)1-'3&W8E!TL#B,+Z=A#+WS^%VD?TGTY$_Z&IO+\HUTEV[/3+I":I MZ5"=B?.O`0S.Y5.MZV#)+6A74O6E$.!H;I?3*?:+>XY2$EO3O,$61^],JGX[ M6.'HA^()?/F^(#3',V9$UUO'>V-T)FW?!!&23*)?I8+5'Z0S*?M&D!1W,M8- MO)US?A^BJ+?X>HOO]"R^,>2W9[(J]TQI6)2K6 M;BN:V%F_0J1P[N8K)M4E^RE=KI6T@O8)Y?]RHRF?5:,D(;,(RU2D9@.[+85R MS"5LQA2+B05L!WG%-&&C3:;K&GKW:,FI8-3%%_%\SA\%B/WODJ-9)S:2[VSHIMG9??>QP4BG+V3:3Z08^3\OG`4$"+.M@/\;*(_EJ9:8Q@KYNBZ=8%+@F]K6P?W%T M*_F`0Y3B@-^:+I_8GI2P%OPHZ0.N^IO(D[N)%$WV\V7Y+Z-W(IMN^H/8N8]\ M83VIGSWCC^RW..*6G(:P-P*L%K01*#!>W3)MXWS'UY1;T=C2_>1:*A^#'9(. MA6/&=+7@-JA.1T`\Y@=E86I94*N/'%U2&WCV*CS<+/S;'2UHWQS;-'!Z/UP] MCRLLJ#*Y]K@VFC,UR4?1.(YB^HCI*_%Q(N>CI(O32UAMSLH!6+R8N:7?XF!* M\5+.X+UF3J]2M9EZ2+3%6^K?F?5R$:,D?2+D#B924?=U>QYD]1Z@!!<[M.L_,9H0M)],QH=A/48/8?_PM02P,$%``` M``@`,6M[0FT]:TN#A0``6A8(`!4`'`!B;VYE+3(P,3(Q,C,Q7VQA8BYX;6Q5 M5`D``XTK4U&-*U-1=7@+``$$)0X```0Y`0``[;U[+P_W?_F?GW<)>L)Y$6?IO_[AU=??_@'A=)UMXO3A7__P M\]V[EW_^P__\M__[__J7__;RY?]Y>_L>763KPPZG)?I`VFQCO$'/NO?T3W1W01E=%='JU_+Q#YPZ=#NHF.*_0ARM>/Z/7W M*_3ZVU??H6^_?_/ZNS<__!'=?$`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`[;-LYVK\=2B9*Y=\HTU+KJKC&U4W#-MZK4&QZB^];#=`"C:.@!'4H1AT;3-$"_L2;>+7X^ M27U8L7[H:Y/5CCN`?9*9!U^1'PL;&VT;0]AI5U2-!=!FB+6#-]CI(H-8KF`4 M2NL=6H2K!1=X_?5#]O3-!L?<>,D/0YLEO_I/[MEO\4-,'7I:?HQV,J^J;.K! M7C5B#H>^FH';=H@V]&VMLPOLPU9-QE!;JL$2EK73X*HU4V]V2W&G&'9E`U1;PMHHW)WF=#;UQ!?.U"HONR8I.A=`W9 M8"7+>M]W<8+S<_*UARS7^]Y^2Z^>=RBDPH>Q9JAN!^=T9Q'7K[^5FH'H;64V ML/#J(-OMLO13F:U___08D6&[/I3TLH>&E>B7"CI"O^L&O0JJ"9E1(4:V0IP0 M=2@!UQ1>]/&\WK`P,\GBPVQC2Z'C+H_H5SX==_>9,%R5:OTVGFQ^*-C0'*J_ M(]X`PHJG2>C++J4#W#5!V>@N96WUL?$=8:LPMEX33[8V$$MYD$__#F%I4^3S M96>RH>V:F61[]-I[L;"C8<"";OR/:`,+2IDGHR]:D M`]PU-MGH+NW3FK`-S49>WM:SEQL*JG0GO"'H]GUNF7U[0ZE1R-RBS"*6MEA^ M4L"__([\3G8=I6_OV7)E`BLMH3K&J0R"-8>TX+EE]VW)2F.16;/*4OQ8-#W[ MLK?GMC6(-7>%-=D#.Y(,Q)+GD1O&B@4#4=OPT#J6/:7Z%2?)_TZSY_03CHHL MQ9NKHCC@7&''>AJO9U-JP17'.)3@):-`-0GB-'`'4N.4^-U&";^G4`8S$@^@ M]#:TK,W_DB6'M(QR?BBL\MGRMEYM7!14819-0WXT#^*L9Q;9K_TJ3$*T6[D] M+'R3P*_9;O$^RTMZ<%9&I7*IH27Q>WN@$EMUSE[=AC8$B%,`WA')A!,Y1+RM7AUU..OU%C6$J*8$?#@QFV*9 MHV(@L;L61JB,YC5;H#]4G14%+@L+_`P:>D2*(*)P1<$:!&#Z9DD_?;J\^P1I MP/+Q'IJJ=+#]&>5Y5#R>I1OZG\N_'N*G*"&H*<[*\RC/CV1%]$N4''2O?>SH M/9JPK4)"@"(A8$_DV`\=TA4Z*U%-C1@YE-%/UFU-?\`MZ>R*[(6'SOZ405&) M[O%#G*9TH,C4QH592,?V`;I?#3'YO5(WG^[-R7,,O9Z+V_`X0Z_7V8'(<8O7 MF,ATG^"/N*SVB+KY6D?F<_;6BR_,D%5SU+9?(4*QJC?W8'.[FQXTQ@JCJ-8F M[VB38K;&C9(D>Z:Y1]`VR]$F.]R7VT/2DI`F__W5ZH<__7'UXP\_,.21?[[^ M[O7JS]_^<448%GN\+N,GG(`$`+M8I["Z,)LF)+QN<<+26Y#I(L;%&*3).8"" M3J64%?XJ8E11!XA%9_5:0**7Y!]4LA&3S3!<0L.UEWQ@I9G\_'76$98TC0R:QS MB"R):?J#STV.]U&\N?R\QVF!R0KUNGS$.=^CFZK&Z+%WN1\'W1:K.:@@&&RE4`,W20F MR[%F,&,_D]$B#Q?`^MY`0N(=6E*Q52AK&R]YKU!VTN[- M(3UI]+(6FY.]@?43\_>Y?T2JS5T.3J6M0VRX&EFL]EUM:Y#M5U=8W2ZL:0>_ M&=.)W$5C9\L#O34;(7)0NS3!I-6;M:$]^]RS97N7O[K MCT"T9%YW:5KQQ7T,;[Y"C(!G]:Q)0(]-1BK"-,"M!F`G*LO)[WWB-V5`(/3:E_(08/"C>YX0_@M88Q MM&Z=5?@^D#<>O_L_;%<>\\*>1RNO@182SN&BRE$T_^?@^E-O[Z;_/H[NXR2F MD\E9NF&I%!^S9(/S@IX4E$>+NREK%A[AXZ#6T%PZI,T)7'D,X%W,%)VNSMY> MO;^ZN[K\A/Y'M-O_,_IT=WW^O__]^OW%Y>VG?T*7_^_/5W=_@02'JQT.X>-H MA/XC8V^B(UV_V0?"#@@`XEX%D95QH%5+^+`*9\GWO&4(X:IR"U%%ITK-PY]9 M7QSP7>8:XZTA\FC>6M&%E$P'C.ZRX&*WG708&GM(NV.S'0T!8#0BK[X]/^!- M9^ZQ7BFXQ'IH6]1I#&[^8^1/VL9`&Y1IG:[J<\]3E=[@);.5UMH] M3E@XCY\B^M3+":Y:,I^3EEY\8=IJF@>%6T5_DW6;'*'%:X@D4_A=X$J%5 M*XVF*3@<[&67X"!G5,![BQ0)LM8^3WJE MP@H'H*352]H,T7:-B:,/47G(%]H3V+Q*L)0>%\4;-+!VL&-H*Y$ET$SH&)1T M##:$=#[Q?^3BI_B!'@EX['&OY^-J3`I'X4I`@EPK67@0T)V5U4XDI$V4E<#] M9WG@9Q_SR@QT,67"'?R^KB."T_-"/1T,&*T>O?5PZ>>UH3M*[31I9L<.I?#N M$,CR[1_OV5@2^#F'5<":F1;^M$,;$*8Y\("/:INBT/",8T5^4Q3-Q!'`:LW: M[BS//D;%QMUG*6;`>/6Z@@7]C;#+)+S52S03A0<(F(4V'FE0>X=:M;F+3V<" MQ&8"X3##SM(GJ[2I2ODPXYM%I_/>DQH4L<1\Y2-&]U'"LO<5CQB7:$-V79X>"3_C:J6-#RKOM.FZ?_R9L`W9%=/>Y%\8=MDP>:)-;^& M<`R6R*O=@1WL8$Z$K"9/!0'0N9!V5AD>#;7/\$(\)#*KLL`)R_@#(@=Q/?DV MN^WJ/#T.=4!D7F=H\0FR7[7;G0+M1?4[SP"VF,K3E"7%=#WY&2,DT(;78GOK M?S.;[79Q2==E-,3Y/$MI62-,EC9:\.BH?&Y@M<(+R\6V-4_U.S&0F[4J,-^2Q@-.*)2AB/4IR>;'0;UV]0SLHRC^\/)=OPW&4T&CF,P\[1 MFOU3I1IL-2+7QR8!/2^Y(;PPW1XSF4PE762M_6:ME0@K2>?*6R'6;,4+LZQX MA=CY:W[8IZ9UDKW@LO_WK[^E__.*1MKSPX]_1C^LR&_H_T/%(T$PF1\.Y6.6 MQW_#FW]&:5;_-F;Z\JRVA[(HR0_$[0(GLU49FR1YK<+2_"Z8LM0*&$)3STNC M@9BRQ426!H4'>ZDU2/A1"X7O7Z_^_*<_K?[TIV_UD*B.$R_P&N_N<8Z^>[5" MU"18N^^_7?WY^U>KUZ_^/(K)*^BEFLR`9>LSB?5ZC)'<;%@!OBBYB>+-55I= M8W3DTF#/@MAGY*2-*L*-0T.$*!6Z2E%%MT)=[(*%5$Y4BN8A?QFG=90Q:$RE MM:D)X96V=N8/-[>XC.(4;RZCG%8V*\[6Z\/NP)ZV7>!MO(YUFQH+8H^XL5)E M:&(U$:JIT(L.':H(P=+@3=-IPYLX"3]6B'$7#I*+TZ;O%=+[A+J]YD.H6T,# M\MS"Z;P"]IQBTOE$.(<2R@-HF3(O%O,^5N?F(Z57':A,%MJA_*>5Z&_YQ3]< M"4\K*2_YWD`A+.PIE?WI5'!9A>PN^^2D`641TE\+=K('!7!#:*N`<",GT1_Y/`NIZK.^R_**JQBH65+1X0^G$Q^?Y@*."PAJ[ M*5A+&*":`Y)6#(5^B#E154WU7E/9WA=Q2GZ;)%%>".LOKZ<-8\Q9.'@88V2FQH\0;G'^BQZ;6ETI*!F#W3!J5C%=/A!9=YXA3\X-W1.@1 M8Q#&5=0H]:HS^>8HO@LX&B?+S\I!H>=FE_K[)X-10H&-R5"<-5<>UB`3",'` M)5'!""I.@UJB,(#DI$H%(.'6*AS$J(Q+CQ2%9<$BA-]T.J*C(@)&1B.Z+2I" MBG*P5J&/AEBJ`C02^D9D@X*>!<$BX+J]J':$09<2&`M])6P!<:V.?8%$A:TR M?6@$&*&Q,*4-(@`WXH(LACW(2H*2`0HE^\R MZP\HJM1.^M!V'@:;,9H[T)Y#D,-NPZ$E@S1Z_>I<;OD!;#0FZ1'6%L/&HHQH M@-Q<7*7K;(?9BFQGET5+1>&U)+%*:+%6+VV)FJ8!O");1'B?-F\P&;%"K\Y> M?$8A/^'T0)9:9A,7FGJ-,!;$%&-O>9,`C-E>6M@06_G0BP&UTG'W&#X;);0, M*I."UA0N.C7O)78J;>XSA%8NKA!$2YNAJMV*U7WGU>#!8F;MY+YC"VU4T-:@ M09$:JQ#"(M4FX='5\HQ>E1@Z1]MOZ-/-#D44W%:5E4SAOKPY6#LYZT#,C%:: M!76UTJ$7'*ULW&'-1`7*G"B[+@U'IJ!7IFX"9E*,[>TL]# MN/CSK"BOMVR&H2&Y.'^*U[CXE"7Z@T,ED==C%(WHXN%#4:+K+5^T,!=;$R!* M`7>$XJH#S43)US-4B1W>Q&MB\!O,=0%?XYCM23Q&,1B3/S#\E&=%<9-G6^U+ MUFXKC^;>%VYH&^ROB/\9RI@!);2:/<;+YQ-!$B,<0D:T0'\8N=[C/*(9M2X_ M[W%:6)W#J&D\XDC"V2=OS(RH:0Z-!3<-V.DM MVS34C4'WQT;#$;;*)JOQ69YYG^-US'+^4RCN:/KOOTD+$/0*\:JIO!9GU@DO MUF9N6Z\0^5>"68D\-C-T2%F9EGV>;0YKR'I_XY7C\T.G/6S-9J.!B26;3=8U MH0S+>986AX0ETN602XD>4?$HL79]>U\E6#0"B\TG_A-8- M#<(+34A6-58<9+][Q!1KAY0=:%7M)(KT:J/DF)59(/^"KHUB@D.O,HH!"QZW M[O12B1ZW$?=0S9S-1DNW>]>1^=S`Z\47ML"T.6)GIBRU":=8H88&;!\_1@\% ML+WNXBW,1]C(FVT'\.C*Y<@*]*AJU`D/V+F4\EK.@\Q6!\%S2@QZCF9]?@:' M-1XV^#XKK-#6:0V!MYZP:L15`9TO:$.P=)]V0M-?(VI)M2F3Q0@PZ";+"P(Y MT8Z5H!.,V!_LR)X@ZXM1>0"+6QHSK4=(VB@BV1!E`D8KLJ\"N,`9HQ-?_0V5 M@42$M8D-\6%K7SX?3928C'=I/K$>MO3Z2&(HI/B^@+>`/HYVD'3V7U.]##:F9B@\T9#;J\U`\CY_89=1/49S2Z>\Z;7^GC\\TTWH](#5%0A7`"Z*W0:,#7:F1QJ)B/S^`J>5[-1B*5!BX'0YVMX MDPK"V3XG0#K,@#V+'ZD,S$SN+"W?\JSE,GM]K6]E]\*+?1NC]WGOR,]MW=%K MHO1ZYVA20KQQK&Y(0@3P>'5@(.PN+\?P1B&UWRM0*_L7+T!MC-_C62,NK6)% M^^U\GBD.!)1ML?K;>4\5IJWN,>RE!SORM)`P(7\".M*TD.[]$M+1TO9I3/>? M/QWB#;V4G"CEBX099SSS8+O=\(P=;*\GP#*/))SZ2MR1/Z=Y&>5IG#X4=?T- MBPV^DL2C*]6(+=0TKYJVE6$"V,@[R%\;!FN!L_2W41&O M'T\5I@LX&O$&L+LTZP%9O]'J6"=8<"2:W<(2&P9\@F^'6M&`Y[%W%R M*+6E9504@/AKA;9!8-4Z%&M6"\_^`IS+R&`?)J/N&P?PE'*6;BIY6$C"15RL MB8,[Y%:)[L9RA)Z6K)2VGKC8>_N*WZJ*[.BP#'#]-KX3JC)LAP)O:)@\35-! M-@/[`\^4$=12S]&\K:8B:]OV&$:/XX='(M`9L87H`7\\[.YQ?KT52O28%I!N M?'P&USLJ*(1Q5_2H8H`X!QIU+Q:Q!5V+SJ9I5&FZKLJP";6GV*7J?6!+VJGJ M@R]U1T%1"-`?@4-P;U,Y19?J=*Z8)1LRN5S^]1"71XLUNQV]S[RDE@H)2]&FOAQ%58<2<=(` MUMW35@W3@UG)RZ#-,R&:3M"4[Q< ME.#KK;79J)I[\W-*<659O*E9A&4-AN[NNPUM7T^:V0BSGVB6BL(PVD)#?_.9 M**(X)]`AY8T"&%E5IPZF`GF/3AG-:D[)#FFQQ^MX&^/-1;:+8EF&=1.%M_'5 M"2T,M*0Q^HTW!UJWC!+_9POQ_=FKT6SZAFNR&8!]+%_Q$P>Y)Q(21"G6YW9T M$/M6A0+"_1'?NK7M@);L2\L/L@/5&9%RYZFQ()\5*A[7*@GKNMN?V9RE^.H..1'NTE(UMJC@XP6 MZR^.E'M1?7N?D5X*@4WK6+`]Z&*">XVZTIF)$%.EL1&/.\_#?1%OXHC@BYW- M,929=IU*&I\[3HW@PG%%TW:%ZD/4RA?"[CJGZ)#I=?"Z\S09D;#K-%B0/_N_ M85E_\4T2K=DVV#CC*P@\6KY2Y*')5`U1TS*(J5_?XT-+T7:W1S?9FNG':$=^ MO,NCM(A8N4OC:L""V*?CM%%%=?7$R%:($M)_=DC!5P[C]F5V>GEUL-;F M)WA:6]OSB*7'+"_O<+ZCR9;OR-=,RPUI>Y^(40@LO@<@[5[2ABQS^0K1MM!+ M#"?92RO9O5J^SE@$8]=8BC_[?IO'FP?\/HM2XV)":.K1JB5B"D'DK`FB;8)8 M.JAZ=F@'BFX%=''F-8*"`M+-J6=-N:.#7@`XRB\XNQ`F>KWA&!T>V)1N_]8! M]#6#3?P^;[,:O(3"#W%*SZ71VRBAB5C@K-RL@2`L>A'7+Y^^0E%)K'[]]7>O M5C1SR^QZ\/K?'L8F&0;\_(9`T8DH1V.-Q>'G`#OAGFE7Z+D@#_B9_87?2R8 M#;W7F#`[A>1!L)P0<4K$25>($=-2>L^\`5CA\VG*Q8P0-EC,P=K$H#%[4P,' M$)_0)B!HR``>0J)*+ABJU[?!@LA6/8ZB8%983N9G"2FY[?F,P_NO0U&RAUYW MF2*>BV7_T,#*GH?7^#Q[Q<18O8:6/LX:A.ZA-G2O2H`#!:\I.MX0F1ZC`K,% M7H[CSD)P0_Z!:7&+"G6P<8F.]BG&*+H9)_ATQB;9[D,Z_G,9WR?X$UZ3EF4\ M>IUHY@L_^5EWP(AU9?_Y987WA*O<%)[#/F=@UNF`#W#Z`_PNPMK*W.9:(/:352W/>,0TR6&ATQ?E3$37XB@T6NE1,U)3%9C("3: M'-#3,(;EL_5?#W&.-^=947[`Y6.FRXMN10[U>$RMCOXU63/CU+1T_5B4B)-# M@6FD:LVA%T%36:L)OA5T,3OMXSF]S0'AZ!:7?7'.=MDAU25MM"*'PI%:'1.. M*LH>?@BL&'D0.+)7C;>LYZ5`D60P/"V2]%8'A"0^-5:BV>*G3P2%FJ'H)JS4 M*[:*(@AXF'30@2*4Y9K9GK2PD!G3U*1NBET4^]NO5>#1Y6>JI/WNAB_/JI>B-2O4\`)*D3J#RO7?*)CJ`+3YZR]FZP-%+"OHL:@Z-WFV MQGA3(`I*)%/N:]@\@*-P*"8*'`/"^5T(=U2S^!`M*V`G8E#3P8M4B?I/P8TX M*BV#VJ+!YE-\BJ-N5:&%KF:X;AZ<.['!I(T_L0!D6/%3E91@<53 M#16=$%=5L:J<5<@!5B:ENR'VJG5,:!%54HL=$UDE,U?P.Q&^(*G*G-%-_FZ/ MTT+JKBWOBA3,X.],]*J.N'=DO%XR9JC+C48;L]HD[[)\B^/R(+G9"^%ZTJTO M7MXS1=>=I@%>MEC8L\O]I=:8P<%;S?XSH5?+#1Z^!F7'W(&>,(#'](8$P:&< MQ4TP<*>[U+#QW)X.7/,7A[I]^GA>\%C6*CIF)F9-*EYP._4YM>YNU:OWIP$" MU&RQ3K.MQES!P=G9:D]'IXX9/#SUJDI32$AF471&]SL/_!;H[;$WV]Y$1_;K M,[(+I*6S^5=6#70+N@'FP@3U!,&M9YJ_U4N.P!S2.&TZ'FF9L\,?N6XI?HA* M;$Y3X66D`O"U%@[(;2T4A+>U.3D99`_NQ6739$`3SQ&-[`,[6K3HC@FGC4*R MZ<&["/J%D,\@1_0._35]Z;FF<2WH)?KU[BKT4TE;2(PYJ+3$`_B*K`WQ*Y@: M8Q^"]EC`K[YD:HW8$W4Y!+6&LM&O>U'`@X:V68[N#T6^RJ]WN,\*@E\S]9E_,1> M%5M@900SCP@:I:H0Q(5+;H4U&WIP^()R(GO4KU###+7<`L#<+*JWND5-^HG\^/94FP:0^\YD6:/^]T@?& M[EK9I4=-AEY4A/,_`;&="J>J1)-U=N]Q0"H?E)CB2"8XV_$BY M?,1H&Z<166Q%">(E1^`>8>E-OO?.2FOO/BNUDL4HS4'W+LLOLL-]N3TD9VLF MB^ZZ0DOFM6JK5GS)>V#>G`9_!).?;J>;%_QT0GI*4:!;NA`QB!NPA:O.N^-:=T*7)25OU5M M\12M?6WQE,(J3K$'#4&V>"XR\SFQ;@JSL[.6]X[LVYY8$J6<'N#1TB'J3[VWQM/8^`77-"IGXXB0K"C*8:;T-:'54MO(4L^C,$T2RS'_$ M-:P/>4[]"'<1C?-8DT7U`YGEHX9'B]O2+6E#[0=P%G1&SMT90M!X_;#7NEA@9.*>O`@^L4=`4I%07?AM%%"3O2FED7MV=^/G3QN:]P1-1P1^$&)Q!'0=S] M$YEKGO`5<>\YFWJ*CYA>9)719SM/H6N M2IX_TI?>9$XF^_5&ORK#%TKBZ#Y.8O',&\!W^%$,R)%8(4[C26S@-F&#=(LW MAS7W4^=92L^'R0?>UWVHV@P9J'QM?(S"BRFP*X+J`6U%@M[/CP:'/[?13GU)[?LZV=[E[&D9// MFQEG)86[F8;#2\9"W"6M4,L&<3Y@-QF3U:TW'7&K$H%>W.H,NYL"4]#KUM50@>+!RD.3+RZ'0?51(_#B="+FOPKFNBD M?0I2L0C@'<@D/?D6I:#+EZQ]0\9LDQV4UI,\]'LR=SL5D>AHI)`@K(.C;IL3 M7"?X2S&U"")2P'<,L# M0&^BW%"T?02SP)R#H.IX5T$KG_'`V8I;R+[#J+<$A_K`X)#\RACMT$L43.#S M>)".\4%2A$)ZI(]9B3ORN7D@@1C4XTA4L?0PC++C7@)R)Q9*<>E#7(7,(#RL M*U"APPQ]!30@H7Y5A8JXKC.Z=*``[RM@B>T.43BH-FFR@,A3L3Q:9%@$2XS> M#%[1XB%Q>Y/C?11O+O`6YSG>7/)@N;-TM<*4L4RIE@=8`E]I0"D(*S/<0&LV1DYH#6$HXV;Z#CZ8+.F M#>+@HE7$]9RBH@S'K9A5:F3?RV4/8T<^L"W[#7C?L(!ADA^(YVPO8%R1,B2' M!HNHCCU>*"WJ$`<%&;-BM0:)6@-PX"BLS0H[ MR^A5=?0V#;.P\JC.HGJK6]@)F"ULUQ*@9L/UF/&*5P2D58EH&8,<$V&)_RB/ M-V202K(#IE6)]K2)!J`.3'QFPW)133@-J8A9V2Y.CFKZ%6(<5NRHI&$"EBYK MDII$J,>(/?G=TJ?`C)#IA>?7R^U@R[=>7C.!.:-.R`OF"CFO2?36&&^*=T3M M\RQ)\R2#8.>IZ=<_C;9=UYUHOJ0.LKEHIG MN',.ZJ3.4;/ZI,Y&KS`/!*8?!(3B5][Q+.+SG-3IF,'[&;VJCOZF8782)W5N MJK>ZA7U29V&[E@`U&R[,MKI-;/H^2Q_N<+[K%A\W[*@5Q$";::4J^GUT-^

5\M[ M:_PH23RB1B.V).M*O4T.!A\.XC=[_"PU8,#7EG@1X7T"V&3S0]@:#!X&K"P: M9#!NI).DX>BPDA?(@!R%1'R]9^CF4CD&LXJW M4*.+E%Y"$3ZOA@#_^;6``KT*%3J4*R`!?3!]GNUV66$/DT8MH15=D@:+S5]TZ@/C@!57PB1*S$0TQ8;0@?PBXSA^B-/X;NYPY M)]ML(L^&_8-@]H8748OX`\1J91`EG\AO,#L'OHB+=9(5AYQFK?L4/Z3Q-E[3 ME\""?G?X<_DVT1_+>A?%(UH!NGD(H*X(*]03@DT\73'H47(C"&HE0:THC*8C M#)("E`J$F$1@7N;4NCY;ONM]>DQ9\GIZNK\FBQ?ADT].@%!1&' M0.$-`EB:3)?4)\;D0S]$@'3<_=GGIS8]0\%%H>%E+;)LE@CV/#Q:M8MB0S/J MTJ+*IBAUU]N',(E"ZN@32'8I9K%;*$E M\X@R@_A#HZN;HV[[`":6A=7PB14;@QK"P\*:0!'A-AU9,H!%B9V3EAE::),0 MB'+`B'*8>IRLT6>J=%YSY=C91-G4*%93>4V,KA->52SGV#,N\#EG427\YD$W MFI*8_MQD1Z!(L)EEM&2P6-`Y7;D=!3"-+*T',"*,\X2%/7D-KI-G$+68(\RT M?L/LC(I(HM2ZN7W[J7T#F#A\ZN0Y_L[.Z"1!>%86%P!^W.88)S8AH,K.=^N- M,;!Y*01=@T"APUPVPF[]8?.G+-L\QTE"Y!IF\G3:"[GQ\8A.5P6')EO3,UL5 M\NF&M8GZ(G2UBFN;JND=_0BD8QF%NZ%G&0,ZGUM)E4AV.THSM=>-I8TRFN3/ M$@P%,)][5LOOMM/:_,3=IZWM>([SD33IK MS::ANGT`T^NR6GA._VXR)DGB=X,E>0^)KM/^U"+UZD6ZS39C.?H/IAZAM++> M;L6JM=!^0=30)JMP>P`@E'NL\2OBO$=:OC_,TPP>3CM2!8%'Q"I%'IHC;1C6 M3G(!T7UB1&\L0PAH+<6?A7=S3MK,6?+V'NU;)?#01OI)6H.82IQ$+ZU$]VG? M6E,9FK?.3CSZ[P9@++_,'J<%"_^HLC2=9T59?'J, MLT!%F.7FP$F`_N)M5UR;>7,JYQ`]AK(3YG89`0/ZF_]D&=GY0X6[/")?7YL>!EB1><"QI?C"6TQ6VZ!Z MAM*E`9RR/:KB`S,NAE4#PL&JYK=VW<#% MNCPF8,IVN[CD:]243$+LA3-.U[WC2HOMHQL?GRF8'!44- M`:CJ-671&-,5M;F:JV3)YFBK8&B\W.V3[(CQ6YSB;5S2 M%T965V!.;.#P:%+/:*DU`U1Q8,_.PKC%"D!50%Q:&:X!F#96ZS%UW&&_3YB; MB!*:2/I=DCU?\E_81+%8D?M,&&>GCI!'K4/&D[]30E13!C`7>E?,:VHX!R,4 MLL+96Z#?,@M4D*YP[31L-]?9LO!<7L%2+6EI!4J[0CV;[)"',;_!J>B[_("+ M@PV&EN[7ZW)/=%_BO!S*I7CY9[\,4 M)%[W7DJQQ6U)W13QM@%,40N)[W^DM1HXB[=*6*^D`;1Y;;)VT6H" MF#>6TP#2\LW)Y`W6L@$\7I.CELZ!?O#R5*LQ(E\2ZF>]PRZ[4D#HQ@\K#F[`JTBX[H MGORTWQ-!69850D#+SE!>ZVRW)Y2X6*%]E.,J%VA!%A/Q)H[R(\KIOI)N)!_C M/6G4JA<_Q07]?>=WAS0NN_\N\`-S$BL4;;=Q$A.GP8-.XY1TUZYRQ?<9T:?H ME*C+GE.R?5>[5A[:$\%C2)BKBXW@ZJ MTAW-+M>1@<^")K8J">Z*$M(54DNZ0I6W"L`/SZ1?-E8_KV5-G,Q2*&OB8I,^ MHX6([BE9)['GNG'Q^WF.-W%)?](&!ZFIO,8"Z807XV$ZK1%M1);>C*#Z1WBP M`E/0;]R/T03%,!^3_?E#T,\%OMY>%F6\HVL(#6@WB1!!Q:#FD`9UCFB8A M8L%*B6RD$C[M76XP0Q.76HO?J!KZ&HG\AS[I?8H2NEJV7X+9T7N.I[%12!II MPEZCT1\ZI"%B!%1)WS$UUN8I"ZBQM4V?D0%K3&2A"73M8:8A\GKOKQ%=O/YN M&H<((1^Z^+V_-YF5>%UOL*D))ZF#5++=R`#;3?XX/KY.64T,VAL'2;(A-TQ"GXJ7U\/O(5V]*RNJ6T!A0EB:SQX0UBQ`J\IEM35NA+D0< MA:!K$!7Y++'G:*]!5.*K_\1%U(#1GD<8%?@$Q=PJTJU0_?<0D1F:WH&4MY,; MLT-I.ZDE^RQ$DI,-=!D_X>*VC@^XWK:_/5N3_S\N=3"U9N&U6(FU6F(-D(9T MA1IB>N?0_@75]"$A='Z=L]$Z^RV/XF;"8L$4)_N%*SGY+D[C$K\G(FV,9 M%K#)D+QE=B%,DL)I^]XB6IFDJ1JFR2Y^7&63[>L"W>)T]$%FL M`F;M:;U>;9@5$6\%&`WJ$(6(+`#5_%Y\6)J@>/]A9W\3KD$^9BF]?:0A[8>$ M3HV7GVG:&FQY^V%+[NO2PUZ=H3T12G[GW-*BBC@$J)RX=E;7&>/5L[G%2$D7 MK&D7K-LNP/P#<+<7CO#K75JX8<]CP=L-L>4R+HA$K-R*_7QKHO19P-:HA'!W MV%+4!7C"FVD]J^5SEK4T.Z&DK)7-32Z1PJ%I@04SC=_2*$K!%85$JO8A&/V) M:&$U-SJJ4!S.UE@HBV-VKL@J_,D M8]?%5%R MO:7ULMGQ*C]OO:K?/P\/8FUC6I?\FD_L+=)9@K4W7T'7.:J_0^\262EV]JGF MW+_YFNR*/$#0^^[!K-.#V9(]Z-7;+`=:P5$MAEA_/NXRRE,B7'&#$-,6=G=1XSZC65K;OE!Z[W5:*B M*_96F7@#5G[`N%L=P\UG%KY1R@K9[3J5X[M\5HASJH+:*EY5H8KPP#EG9]PO MU1E>`G:D/4^X>/VT?L2;0X)9 MJJO\@#>?2L*W.X7?T<>>QLM89SZ^+FA'*"@L^"H655XWR@0Q+KWE'_J-,0*_ MRPU)86_WI6/-N'>'.M*&9T%?+T76]9:FQJH"&]\>?\+90Q[M'^-UE-SBAQ&8 MG,3=/U(G=H;.G/M)U\@O*'-4Q\F^/:(N?\0_$!ZR_PX[R"H`9+$>(@T.292C M32^&1>$B9W`I'H_\&K&;+1$_T3]+-^_CZ#Y. M8IJ@XP..Z-!NKM-;O#[D.5F$L3R@1G>[S'=\'A/.W$$Z#]/NQE?5Q12#3NX7K%PKS^GV7V![W$/L@ZG\Q``\;6C^*RZYY M^A'DNFD!""MOI^;'+\3.\H:8]V-4X)L\7N.SA'W3YJAN+">0W:&MDKK]7\T# M,2:HY1*03YE1XVR:QC#[,B=C5N^\7"QYAH)O_:52NT"ZB>*-W:9J!"??!>&< ME%264QOLISKK9\HG`"1^D3H[%96;16E[)N"5T-S1*ZV,Y@Q=_XN%;-M)^2-D M`SK0'94MW&,0B9TX0JE9`,R)PEBB#)DVU:P"!BM!_;(!:!1W>&ZH`T'MZ"CG> MO;MKI*0)X`[=@!G%];@>,`'D@[=92%@0AY`#7F=AVHSH`3@#4.6"R/)NG$RM MK7#"%#F7F[I:5"(/$" MWY<095G);G# M^6XD5BQ9@>#'6DT=IEHF33(ARB=IDT[.< MF-YFQR@A>\_HR%YANIZ;ZLG]GYZ:U-'AK:)%-7$`&#MQ[1S/55W5DS]:BM-M MEN^J)TOWV:%$>:7ZOF(P41Z\VF(.8V^494M@;4YXFI:BK+(V8[4]4IXP7NPOQT3E9WCBQMT?C.@5E-3`62>GTQ$47A M>)5;7)1YO"ZK-^P_IW%9G#U'^69V%^/ZI8#\C7LGC7,^[7:F1P'1U6>-0.T<=TQCU3-0!K!!LD*98H-D`[$Y70%]Y,,&[*PH#CN^CAKI%BQ8@;D(*S5M M`-4P0AU.P?J.TU=[G%.9I+<#EW""!N.VQ:T= M$R_,P1K,28WJ!@OT%JAEC"AG=)5V"Z<'EYKA[[-GQKFZ6;I&?AK]7'=2U';2 M@792G*)-VTE-4H<0LFI-]BAZ]SC:G8#DTV*/&#[$:;P[[&ZI927UP?N[++_> ML\=7Z<-[3':HH_)H3>`/DS]K4H=HWRSQ)S85:\1YM_=5A#MJV"/./P!GZZV' M,F,/;R$U\*GT.5LE7/?%\ MBU.\C<>$];ES!5D&C5%>GY:XYL=?/]:(;QX9OZBX?A6`^UNF.SI*M_XOU.7+ M:.-7+UK&6CX$]B^W6TQW<;@1]#8J\2!IE3OX1[`%0?\H]77P;QAVH4]YAIN6 M;N;>&.C9=X*A>H'Q,%"[@=$8@'GGLL5YCC=$2EGRX5%/8%PX`KV.<5-:_W"& M\V)FKDA\'2+FI_9!3^]0X3W*NG4O<=Q-&V1A'Q6/[Y+L^=-AOT]8=:8HN6BV M9V-`[<819D'OJ+1V,4]X(K0^RN?H`:'$_!@":A?T(ZP?( M:OWVV/SX[S'.2>\]'M_C)S((G^-"`W-+!A"9ITTJZ7(@-P3H-]H:/OWSDLJ` MY&"V,CAE5F4;:P-`497AF=\U"`)>9+LH%LY499UCQ0<"4Y8*ZJRQRV+5*?W2 M-5/."!YUL.J"X-+%A)7P=+!?`)2R'.L%O/N#=/AV&);T>84FO@[6DU^Z6]#H@2_IN ME"5]%X8E?3?"DKX+UI*^<[>D[X`LJS*J();,XAFO:@I4DZQ0102U@ARM2L'>`JX[K]T@,6%G5$-86%G4A!BKM@)K MKTXKK=*J.*VP(O,5-V46?V@<+<6@@C$K7PQS0N%1%6_A/):&U0O:!@21B`Q2OWT`9#`3HA\*Q.")8OW_([6=@$ZZ>/N^D[[ZBD]=,4ZV)52U_V M+15R:`&\$>*M0%>\AH[M#;&R5R>,*7V_?[W]-J2_UM5.2EC&2E7\_*9H-EWL9,8NMQDS-1?9OZ7RME$>D5 M.BM[U=:7VB:5.#=ODF;N"D4!967)9%][03]J6M:)GJSTANSE4O;UGP[Q)DI; MZC!4A]PNS^':AIOI&?P:2#A!\YKS/(F(]-91!!(ZF.`!J0)#BVS?-[-6X40+ MS"@]4'B`VH`T40%*ZSG)0O%#?>P#"!;[]FF6D%=VI/J2`KT](@$?H<0EP/3( MO7V/@/B,I0&W8(UW+=HF;+6KK`MBDH78=)QB0>EK,VZEQ-!NZ\1+DF0D<0CG M+_8CT]N_6P_+!*,Q+S4;8]7;D#LC7R8U1D7=;D2UX>XFP(&VN-'#VC/`L6,* M&XWY:UP^"BZXZ/O@HN^Q&S48+YM%UZS?`X[NG*/#+,,B$?T6ZGZLB@\9/'^D M.7.K[R'VP54'717;M_@A3E/>(J&'$^!+M87[M%(3127Z7U%ZB/(C>K5"!!FO M9M=\3^:2/O+=!.@[A=XS5PM^DZA/70D\6SNUR;B>"[?&_Z, MI5#B)[)UH)E$KM)UL_PX MM30T]6(MSZE->W-T..N3G+!]2.._\22+>$QW`*ME'I(?^9"D^"$J<3,?3>B. M4Y@>1G?E7%/&6$?G;QH1@G#>'N_(-PUW+SHJCZY:+_S0N"4Q5+0U\/W+DCKX MQ*B%(0U19;8B0!Q028QW)SHJ2!STA+>V(>";BF6U`,6":$Q&+`B6Y`\+FA!- MXS,C,ZU'7-@HXAAT&\"C(^OA&=J8[=AX]+J'HLQV.'>W,Q.E3^]K5$+P715% MJ!9F.2R"#[,:$W_6=9-G>YR7QYN$%O=)-Y=_/<1[NG2W6N/:4'NT,CMEAI96 M4ZT0HV.9PAK*50CK7]]Z^<21@P$.L61O?0'@R6JM;$,=`IZTJTXKNP->1_O7 M+`A,F=?8]A;H\V5#G&SB],&XX!DT]/KZ8""B^)Z`-PAB[2+O4#%"6M*;$\)? M:"KF`WW`T#4K?:"+CL172(M>;''+7;7N.P?X*!6+WN_%HYB[WI\#N"4];%J* MMFT\PKXKF/",C?X->.$X5CZ?SD@8W*$?&HZL9[LSSCK=5KYM3_V(DH\N\#)K MBHS>;5`_&XJC[,\.JYI+1DOLM_-HBT,!AR-=%]<*8?$C[]'&)PKL3$Q(MVUC M7Y->1*RS0\HB0G#,(D2T9F^F\??.02NX)`L9:X[:]H!6?@(:6%7+'M(WL=;W0QG0QW" MB7A/&<=S8TZ+*'%PY^$+Z17$:;AH@-:GX8+U>0QJIVE"\/OXB<9$EF0X8H)O M5OK&"E!6Y#Y#R>W4$:+`&=E+1H=:0E[M*0A(C53LLBCC'9N,#ER'A'"`C2QV M,#@A*-C>VCRF]-V0(2SC(DX?JDJ0&KQ(&OM,W2L355B;M8WJRJ9@^7EGDM=K M,EZE.0@)>%6VX,]V?\7QPV.)-V=$$K*:^WB@!Q87<7*@V00?(S*TUX>R($BC M-W=GF_\Z%.5.G^!M+$>/*!BOM)"]H.*$*E:(\T(5,\2YH0X[U/*#`M5\ZE?: MTMU/6L8O-Y0'S>!0,"Z0()QHUT.D3C/J"2<:M`09W7M=;_E$3KYW$QU9P1;5 M@8:.Q-=YAEYLHR()_2/:5(1$@VC' MM"+XQHU6^XH)VAS8H\?R$:,<[[.T_*:V;2N;GBXGZ*?7AW44Q_&)TS1KG_:63L) ME-.QE#H(."?@C+N>2W`%W90,V]DQ2LIC=2-R@8MU'N]E`]@DCU82>,NXK1%9 MF%1XV_H>"W5:@X`[5-FML.LB?.>O%)MYI4O.:>&`:;3W?@YT@[%/`-Z[0WG( M MM#\\EL790XY9&BA=]4@'#KY,QTDIX=BE(F;!,%URQ.E1PP"RP.0\*IZ-5-$; M9MS-LP((M7SJ6F!::@BUJ.,=41N)IK(=-\ MK0&L]K/ZY6,^*L:5VCFGE#`98O>*E>R=I>R8:]DLEZY;[3*YFJ5[SF M[9H'-$)>KUD0X\]WD)TAOMZ>YW@3E^^B-:\KPA]!OLWR/'N.TP>R921_D5ZS MC&+CT2LXJBED M[1W*NLW4`]U72V+EMA42'C\-^N5%G*)-EB117M!W`?Q5T%=P%=^6Z1:AJ-M< M'0-^BF'I(*V.+NR\XX13^4]EMO[]JB@.>'/!'J;<<+RPQUE7:5S&47*>[7:Q MZOWB&"Z^SN&=E1/R"5$&B'-`G`7B/.HGBA47U+(!N?;Z,C2UBH^=K&KGS19] MA%4PS6.N>>=Q5ESINVYXP06`CT-I[RYE%$27%>%"JZ MXZYE%+23.3%]I[L:2X4[WB9M+FCX0^_:Z6S)ZC=JM6X=#BJSYRC?<#\5U=>< M@;HA':;M/9$&T![/I[+TX0[GN_K^N16%GYWI3J1,I#[/H,QJ".JCAT:@:)7?99?*^(4DY7$^J^'N&";Y'KQSVX'SA+VTXT`,/RQFNL9A;V7DN]S=(=8H$XSA9U^*[:S2._B&IYKU#%O9DYZP_PX@-0 M*X2%>J=1+DZ?"%&6@\9@S(D(L>K>;'`(T46<[6CBN;_1!,?#-=`L/D+'/T@G MH>^0R5ZBPUY<;H?O)-QZI^F'/>5R&A["`A#C7809#2'Z".K#GN,D,9YYCV89 MI"<0U)X,_IHC\/'YC%U0-S@-;,L->3R0] M!N73NH.U2WG$-8]VHQ$G]W4G1>UW`G)LTU3^U`GJFT^I'[E2*7Z@:;Z"4@K8 M5X]P618>V]U?@?KM\RRER?QQ6I*?BGB#>9:*L_)=%.=,6C=W;<$/UDM;*6SG MG%M6J,>+K+WH<[`XYZXY(`09ZG7 ML/0;X&I`.!('5*G<(?R$SY.#+LUX9Q&-&&=EW@&HG7 MY5J7Z5PARAAQSHBS#C`6<5R'$-O[+M`H0P>!,^1$X9ZH#8U0\GAMFN`<^`VH[UAHS;=\269H4M8Q@T:BN59P0MY7@Z MF%7H3TSJCZ<%V:[M3D=LQW"#!BQI.R]@*<.P`F$ M?(Z]$H'[G`[\9O`Y+?9"]3EG6V+7LSN>/M=@O<]0^7E<$..ZH"-:!,6FKKA[ MQ#F.:*/3`;34MJ>A6F;804#[(]9%VQL(PP`H5\$5@X0J0(3)=6%WE#"7J_/( M&@C6.\;N`.?6TCV^RZ>ZIDWIH>+WM\>W.%T_TALY0UH;(ZG/%_MF-231/2T) MHC2H(0'.5^-'&Z^)"2S-3,A28&=CD'BIQ3&FFS&2@N)%4,/-PH"3Q_C2!Q8S M#+OQZBI+C.+S^O,=X4URG^$"<)^;(^+,>% MA:\('3>UA.>#E!I5Y(C3TW<8%0=$6*"*!WSHSH@1[$7QN`_?,N9V]YQ--3>! M10#F)E'+U=P(BY,P-]4(VIJ;8OA`WTQ<1"6^WG9^T53S?*59'S@R@GTEH5?1 M[GD$Y4'+A71^V99\A8Y57D+7S%)7X`<%%N9K\9+`;+L3I@3)]]HDR].>FL[+ MW]=D,F.'V!AT-Z&Y^0GJTB]0;?*\_UUWD%5B^`5[B*M'W%\G(SSFO1)7+`OT MHCBL'U%4L%SQI`=Y/OD5VA-'P!X1-+_)?$8[QL67]6YY\G?X[IG MRXR_![_>6FMFUS>OD^\N!!U\=X\,T"4/Q+=R)+V%?BBN,SQ%QKHX M@R8]Q".*0UY?)TJ8/]OGV>:P+FF+XI#0EY-MFSH/R8;X-'J\'Y2_D`')Y`8D M*/*WS:ISF6CN3^I2:U6EM9\+O#TD[^.M+FQ@$EN/6[")Z@_-NF:'3+>70ODZ MSA91OE!;M(7[(IFC+WQNX>:`QG!#-P,NYIWY;S%QM'C3OD]_'T?WK+:L*@G% M6$Z`ZP.SDE8S;<6FFW^B8023L-=XTZQK;S2\ZG>3ZU;A9-&XMQH*<84$ M?'4S%N*(?JN;@L6`6,I=US:HL_W'6$@SX'/QKC..X:)<8QD`UGP;/7\@*X4\ MCA)=F*"\/80]#P36IB9JF*^X?P5?_/0B+EAF(TJ0EU@%@T[]F M^>]7Z4V>KO:I!%/7.`%`=-8<#EI!J=L<`E!] M<95F@#KMP+&EE_D6%SB?\TFN6^9D-RE9QOWLOB`?*-8XA:VUH;-A)=Q$`X8X M%2(*5N7V7`Z'1"J0,R*9\+JCHJ9]4"=&-EJ01B_7H1X>*6U(?8:D,J`)-QSR M16'[)=4MAY'.UTV'A0+J:::_`>F8.LB-QPA5]'L1/]<9(\0^C_+\2$.OVD#- M-$O1$*M'M.WI1T--23-ZQ7D?):R6#/DC+M&&3)5P=QVV&.K==U@":`YHUZ5A MTTW+7I[R57R MUB6M.R8D550-0)]WZCMTN/B4]J:_4:>O%_84Z\9A'[;T..ZBD,.!;UH$ M,?**3AT.O;Q'?2;NV.T/)<[M;4!%X35-ATIH,9L%;XG",@Y#KXNI*W1=[L]8 M/F7;\CG*L=%&!@T]FH8@HE!8L6H0A!W(.W0X_-+>])B][I"G<7G(,5F>O(L_ MTY_,"P0-D<^L=3K1A6U^W9BM1>OF0=B)>0B$?&JF_O=G/^]Q5&`::'BUV^<9 M#PTU&Y".RJ,%Z84?FE#3&G6;!V%"%J,PM"'S$/@SHIL\V^.\/-Z0_J;[I&8J M-%UP&P@]FI)1!2$FN2)8(4;"W%)#!'PI/EH9I@6N6SN)/T8,^V.:;IIP59'" M`C0GB9VR0Q1;`<#G@]7U87=(Z+7K!7W!0Y_5T+0H>)]@]J@^W73S]RJEUT!^ MMD]X?<@Z6[>(#SD;UJC+>X4:[@R47?XK-'`^J[[W@7OCNE@WO<=%\09%G<[: M=+X`%7H0C,)^7^[.ZR/$5[RS.@B/IS71/J:W"71AMN'/C4WK'R6)S_,:M=CB MI25KBGC;YHTYZ%IG(?&]'C@9#$1+1EZL#;$LOL!1=,^4+0'B:UBE:^R6&RYFCBCMB[%>56:.W1\0^@=@W MR*\5"XT0<`O83??_6[R/XIQ6Y_X0T>1J M*55`>U-BIO9Z:V*CC'B#4I0T&VFS?Z\(V7Z@0PJ7XGRT5IF[5GXOB:R-3[PP MLK4\?UCJNCH-:'K-/*)C(-[08$*8SR:(Z--N90,]-%#)*(=2CLDBVMR203#E MF331VQ9EF@*(2!^M'DW)F21X71[(:JWVA^%61S)%J3L97A"`,AU/&$G#`)%J MOV^"#^BYQ0A]>,J;=1TY_B3+$18(7+3G%Y9F%01$.GN=[JGC.-"HF(4!([6J MSB4\.YOH+JL`L6:O=%>I:!&EW"X?O"H5B%LQH-&E#*D6BAYO7#L?O]X.I=3= MH^H)?=Z.FE00C*Y;X?=Z*WH0L`M,9TT>'G*&UAYX$.9U;=^`7M-9&99P^69C M54%,S.\.+(!.4DUXTA;1S#:,R=I&_1';257Y[7=QL2:;-%9_^T-$/DUSM@:] M]1S309=%&>^$N3`(.,^!!(?IT18&_EP!34>%\X)&VQ,YF$A-KMMSY4MM%VJ/ MP+931I93C%"A+EF;,WI5/_B$`N-(I:('7'Q#R^?$1<'R.>^C(RW,`HDV!V,; M@LK>TOQAY[I\Q#E9\>8'LJVHA(EQ88:-@=`C8HPJ#.V*$:"*`G5(P'$R4I6H M4J6:C4`C5NP,:@@-*VOR^/0A2Q]*G.\N\'UY1SYF*!TO;>[SL8-<7"%PD#1[ M>4?:(=IPA6A3X-+P+I*75I)[?9NA,1/A48;:1N#LVECD74$`:-O*`NARZP8N MY.XFO6#A`91MUYN,R!K7MN,0"])AD7W3S"(#_%F'>W/TLTGLE0@\O\2)0D^OHW2W_5&8:3S91@6 M"@R-@Y.P4*>*"'$J1,G@3<1V3'IF8CD@$TS%T4*@#'H(T`I>Q7VS(6X[7 MV[1VND;P>822OYUUMOCLP_E=Q_#Y9CUUZVC+QNPZU5TVQ M**T8(,(!$1:A+U(=AU*R8G4;1Y]'/%%:W/![$NW!3J>9U^._)C#C2XGF,,,P^7X[8L(>G/:75SCC<7<;&F>40U M]FFF]?K&Q*R(^*KCOD0MT0IUR%!-!_?V-.?3@NK'<.=CM76:H/$ZMFV MQ/F\<.VS#!.Q0[7G`"WC>5*X-?7"W2/.<40;G0B`I=8\`<,R4X:Z2ZI+9)[M MG*Z1!F1@-TB"^";(@::C<92=Y=SW6XUQ3DGA[G[D1JV_]I%:]*0X^V.4E,>; M"O[\K>^'.(UWAUW]RXL#5C\/',/%7RR^HW)B=#YC@.K&B+-`%8_V]X0+U%/" M>3257;1,EMRJ-.EDT<^:$J6[:ECR:MB:I247IAM>1Z#(YGA MX,J1CL/?X-W%"/`M[S*NTKOGC"X?9#>](QD%YCAZ*D[R'63/2UBQ];/W:7\V MC66W/D'Y$*WT(]Q(@0G$-UU'$KH?$4$YQI4(B/3B3>@I_4S^I&45GD?IJCG9 MIU!F)^%5=%K+KJ="\RLZ^4=XEO(QSD_-L0CX'.E:AN#TX5SHK<(\OJ7E%)QK MZ2HYU;-07J?@6'0ZRR[2`O,K.O%'N)4M85<^GI9?$:`YSJT,<>G%J\1/,ZU8 M6D[A>96.DI.]"N%U$EY%H[/LRB\TKZ(1?XQ7B;7PG@(7B5TAR*B,3%OIZ"H[%(/D780.>?W0^ M=?6(-*@;&#)%$QZ!3\%^)RS/:5!7_6R?UGNE:3NN\_@A3MDBYAW&A3ZWD#T# M7TMT%Y6DR1D:8IZABB9=Z=`CR@`^FY#SP/767:ZC-L'";O(ZIO<&IV2Q%YLL M2DW@RX)T(@\MIFV+FL;PUF'L])XUF'I\HG]I@T;?9GF>/1,7=A[MHW5<'I5A MU`[$/OV*C2J&?#RHH40U*>*T(+O^T]/*:I<]5JWVB/"^46A=*W1(-]698-(D M36]R$*$HSPDGS'JC?(Q*%),)Y"F*$YH"BZ8KHH3DCY135-!/T%_<1PDMKHZ* M1XQ+M(E*#+>3=P*K,)_8(A4N#=BAP!M[%S2&"V!J,+UR%DG"*`,)C%=`WBD4 M/2%37TKJ2&F=\URIBFPI:T8V:, M.(`9_C3T&C''.RC63O+K'!,JM"6HH+70T/-CO'Y$9%N4;-`]1E'#,SE6"P+B M.^Z/W:D\3DG[-,5KMCE\CLM'%"&R52>?9D4;VTH4H4SL)IQJ9G8#2&=S)1>X M6.?QOJ[X2H8I*O!5^DN4QW0U=4N6279>Q881C(.Q4]&$R0X77K68\Z$Q3#4G M1%D%X'E.7.$1+FF9M5L0ED2U*TGJG= MH&QHMT4/.>;[$>(DBIC\C0=+59S6]*CQT.9BS_@!4$(V+L4!MQE7R;?V.=[% MAUTH'LS!/6BJ,N'WY#7&2VL5M:#&A@5A&"X*;YLRF4SBD" M6!<$I\*(F=ZH`XW=V=&\N6RFI;')Z,5?R/^\_/#A*SK1\XT'F[7C5M/G.$EX M2&(PIX)RI&AF62E,H";4JVKM0QW)9;VV(I*MZ7`_Z%(ON?$!FU+-"AIGFIH% MFUI6J.&"6C9A3*HPNL)-JY;&JY]7[2P7"I_<2<3K*O;/&H]#.C#\B0H8;;`F MJ2.`PP#7`HK`(4=A5GJDR&T*"AGU-'HA/_JR(`+#Q$!THQTUZ[L+@(,K#RK` MX4!F1'H02"S(8P;-.,77VW-V1O^N.J+O[`LU,#!1^LR':51"R,%'*.AI!J=! M-5'O#``LK^4X;3(W;;PFMK0S,B%_I96%37\X5<5_%GJ[-U%X?AXE%UKU(JIN M#6G?XZ5OWVTM*+W+RR)+\?&>",($I_<%@^=$:,-?0=(_[=DZ"/Q]D08(LB=% M:A3XF[]N\FR-\:9X1Q1BP=QT;M7,6O+V'NKMU1' MB"+A9*BA@[+^D?+7$U@21_<\^L6FM*9/:+C8V1`I#D;F$3AY&1?EV>:)AOS2 M=Q?5&/QTB/(H+3$1,]OMXI(M*'0()_S MC\EHAE.-P6+`+CBYEZ$55NSC]WI$<%>;?='-UX&50V4$85SCS*H"X'6FQ(@, M=YFB!?E#P*?'**=A>WA#DQL0$+*I^ZQ]+OGVV#:I)#U[CO+--3NV*ZX/)9FR M6)SRQX/BY?ARW_*(MR4Z:FCCC,%+Q@%UOX(ZGT%OCZC;KH8!^]8*55\C/[3? M6R'^Q15ZBQ_B-*6SQEO^M!4*^CYZL],&127Z7U%*=C)']&K%^V]^M\M_F6X"U/X"KUG6!/2=4G^?<\9B;G2J;CES2;W6^STX8.Q*TSNQ4O=B8 MSCVG^XDDH8>R.<*41.W@QO?#C[P?4OQ`;T-/O1].R=%;>ZZYW;ZMVSJ=2>#R M,\[7<4%?32Y^:")^ZX2_5AR:GZL)MNJ[3Y@O<(RM1-K>#4D'L M=!Q29Y?_*XX?'LG4>D;L-'K`E6[X)H_7NDM`7Q*(1M,;4$ M-&D73N=A2TW<,TH1TN0]:^>.F<"+\2?DOCWK7'/VHGU>GZF?LB.='_'.SG1V MN)^00ZW%!_>I;H*)%/6LCS-^#>&%!P#\7O5TO;3GD9%>1IZR__;A6KQ?8'Y1WKUS&P+DQVTE M."&/;=^IWJY'OU`//+ZG-;>I7[#'=83[@G>O,WE1Q7OEY4ZAV8D*S>'V+HKS M7Z+D(/.-_F7P]8#32L\KJ-D?>`9=>Z/*-KO MDV.=4XW65DDRBO.,EW38DQF$_G&'R\=LDR79PQ$NXQK$/-3+40`P"9W.YD=[ M.V(UT4-)5][4VLY:I[0_&ND1EGT[-:?CG7N_U-PS M@>Z8QDD1_)YI;.?.OVMJ)/GB]TUS]7E[`?O%KO?GZJI_K/@G>])YUOQ3W"C$ MY-/?UYJ;TRO M>YT$__^8R>9SR_-,:;/XY/`OHIX"N(AZ.HU9;%S'AG$1]71ZD]4\W:W+#P9] M$Z5YP_:/KCN%FRA5S]%*P\]U#T55#SU0RI<;BL@M[2Q&3%-=9Q6>LTY__V-I M,-^L!G&M]13&(D`=-N,O&L5)AE-9!#AV['*+@&XTVI>X99VGOW494+[PJ6QB MSXV;RG"GO_\QE=RD8X9H]EFJB@=^0K9Y]C;1FF7CN?998&`@JUA9B; MI@W0;[3)?X`529HJJ-<21[)A%TH82<8\H-@AY:N_5NYT(;/NIS); M__X!&S)$RMM[1+)*8+&H5]T.L8;H-]X4U#RUO3VT+UU7!S31*&_C_WJ(RV-; M>:9@A9CN'J.T6OE]S-(GHB+>+)>6U%F&D*:D&3MV@9!4+D6G2%)1E5&F@K0! MJXTL7U)=F!E&0'Q>\35]6T%`^.HD4_LMVB6O3S!]W_P=TCLODO5*4`NMN:>% MV6*41\X)7\*,VX_+!IEP!R)\$?.MT*UPT^WP?X*%_R)&'L;-[@RYL>1BK^ M94P,T]@A#) M3>#./7>O[[G[NN?N-3V76?3<24R$)H#.-N,9T'EZONPIBA,:D$GV;^S`SX-+ M$SYY@IY-TFU>'%S]77JRQ6\`3MW36??DS`ZOZ_O7DWIWD-B?V[DEX4%=',)LK=?0"$*\ZFY>E'1&% M=.A[3`-7[W"^D_A*O]\/_C6G>X?._Y*SD:&+:5G9!2X'HH*WG9!Y_3N[EN_3(:=@=Q?SNZ7"\ZD].Z.Q`1E:`XP=>8(WWJ/"\QQSG4$UW. M#Q3[)4L(MR0NCS[7]7HA3G6!;^I:CRM]P:6VPGPY2_YQ_;W(VM^UOT]V$V#E M/A;=#=CXCA/US?4L<@$=5E7.^R\HHN4K+/$Z+>+UT*1BKSY^"7W7K3@^5 M,/N5XYD8J)'CM,N\3.KD22Y6TLFQ8R>?A)\=X1P6JIYIXQE.Q]MVWNAZ<['J M;YZ07]5UW)+.M//=U9?B/MW[VS6:$.W9']Z;-;G7.WD: M_M'7Y)7)(2[S4=\><:FN\U9I/227Z+LP^R +CLK:,``S>-\SY.-H>(1XQ+1M-$K]ONTB0)F804%>GZ,UX_H&9,N M/-3=5+!'5E5B:>#X@@7&O=SMD^R(\2>F.0% M.XOH_OT\*\J/6?D77-[B=?:0&IYV+?=-CRO8)3M.2(9??0M5'T.J%6TGAR!W M8D5]+M?S@?2SI&6)R(=1^V6H]6L`72E.K:Y=>=1VI<_5Z^*0'BY>E\:SQQSV M"6..-W(=Z)U76NB.*RT9^,QZ;ZN2L!JH"97>!E7$8'GRYU)-LK!6J.8UL[Z3 M,0HI]UTL$:2''4V!$**@ M2AZ@+#+_Z/,%^GSAPO0S=7K=&4]59U3ECNC;UKS-CL^WMB<;.3_)Y>>">4PNSA<^2_U=]CGT+&77Z75G_)W/4AJ7ZVN6 M4OM;?Z<5YTE4%-?;7R.J4'F=W]+'#IWP",TYA9'4XPF%A1I".EI*0M.Z5$3H M.D>,K!=G,[N3*'%N/I48H8ZN>`4S4.^W=/,I\[^B]!#E1[2<*@XE6TY''8MR M*R.4J8H(61J9S\,N6U\V/.:R=&03M@XUZY8G[ZVKHCA(K[ELJ'PMS8W""P_* M:X?:,7M.@CB-7Z<+HF=,6*%ZFQZW6NLX*?!S& M!JPCFC">QH(-%();D]IAN;>&M`+R`NZE?@'@[&%:0F@GTU7!P<\T9$$!5Z=, M\[?E%@59$5/?\,M"&LB\#UYL'"8Y()T:-CX(?UY7#`0_-%XQNV3MRQD8N`<5 MW)65$QWZJD7\Z#[.QWA13@;O0VOQG3PH(PK,?ZH4:6K+H"PGZ&3-%G.D$UV/ M2H=;O"=_9V>8_3C)CMN1CDD`P.WAPQ*V77#,"EJ^K&HR*7'W<)/':UG4C3L/ M.#AK%;/!-F?0R7O&62#&(Q"H.RE9[](D*=VZJJ$7<8HV69)$>4$/O/G4_E4H MGL%)Y5K#>FF%]DS#UD\$N$,R(]+@,XQP7,"!-`N+.3R)GAFT2S&IZN!;&E:G MX&5<]>ZLH;\$C^.JOMGU-/N]\+R/%9RMW)`-EJ?[(UG"'/;OZ^W/Z0;GR9$( M=)[M=EG*ROH8/)(S.\\^:82Z*J\D3^-4_>9ZBUI^B#-$C".D9YI!>ZX>P>*A M56_-U>.7^2\"<4,SZ-HDY'HR*`WNAL:B6.:(1D)X&5=D6:9A%)L`7(]E>G^# MRPFD`,),RC)MME2;N-8F7T*;J<[$4IV[1XQRTO2EJ!**&FZH?(SHE@H=Z)J6 M+.JHRZ%NICZ5"=+%V-1.F`#-95R*314#6_(`7(@I[;K>=64^[;:%U2[D18=,113CC0FS,R=Y>/Y%-DOT':QZ0I M)OO(Z!BFFS'FR'>#Z[)NI(->X'KTZB;%5_3OCUE" M=@9-4H[.-BGH]8L6LZX>1@;895V-LT[]IB(381XP"P6AF7MB9J37WX4'+-+ZFK]E*%M<13]7STV"=CKZ(A.3H.OQ80=92)(>)P-&?BJ(_\N9];P]WI$OGWV.92G4 M[&E]/NVP4$0(!VEH4(^(/B:C9.@W2O@?8"\BYE3I7JN2U_A[6Y,3`O`M[0T< M/52>BVP7Q8(7-G=#AQ8>/3U%K$V-VQFG"PT\"V@4`'9$@[/$CF!MTQ>\;7SO M^SBZ9S/;!_;\Q["^5=-Y7L[J%%"M7CM!S0T1^HV3@1B,TXC(UBRFX9AN*$+A M`8.!B.T]&X9,8)5!2(J#P#UGLA'<;UB^PVXKM%YWV679R/Y1%L!;!T=5^Z%J M7R7;$6GU<1#+K+_\X<$D._+M"96*RSR@RM_X6UY>L3R&6:ZALJ._0X5I)VIL3YKN/68G_G1^PZE="8D-?,YQ,1,%1D3:H:@2_ME%V M:@_*JAZ=LGJYNWH7IU&Z)H[9L+`56WI;LN4-,.?DS57=OWSZI^ MG3"J[^-=3&:U&OH&H"I:^QI=I;##$:X:HJ8E_!CK.[HWSMI>GC#6'^+-.MJ? MI9M/3_?Z<9:T]#7&4B'%5(*T$8L"(,W@!U?=L[V!57;KA$&]P/>EI5^6-?4U MK'(QQ47T?1F28]9T;F]@U3T[863?YMGO.%?<10Q;^!K'GE!"[AOV1Z#;@XGB M>;,I<5A[IB2,Z60+4I[(BVW\6I'R/+H>**"C]!E$]&Q-\C-PU?A.MBC]---K MX]>BE!-+/5S0$XJL_R3#-=<4+^6DHJ7Q-9P&P86@U"8HHQ-. MT^8NA,E/%;H.5@>ZHY784B6:]T?PT70V4.@AT0('$Y!YTT0+-5SYZ\EK8EKG M.=[$Y;MHS:Z?5$!U8>$+MVYJ#:VGI>XF'JU>3E,.B+-`-0\07)^ZCE:XGTW) M[OT.S[S`W@*LN9+;B@><7Q@!Q)Z;<$?A!*\A3<7)4L7PJ`;-RR`;4E]>PDX- MZXS$J"6%>PYT:CI9>8%Q2K4WN_3E3D'?!?%P6'J=VZ9"H`F.`!<$#ECJ`=X> M2%.`WCY3YM[D@EV(\_O8=UD^O*I5HMZ5CS<7X*Z@&+76)B>H)U#.I0J!0(1/ M`ZR&$XQW^'+4M7,XL/#E;MS4&IIB2XTH.;I.:YP=I1&0 M("[FQ%6TTY.E0&FT?J+8Y3J+J30Y=H\0IV9Y$!?U!?HYQ1)NV M3Y+ZDW#.9@1J>W[&';)S;V)$]^:TD9&0@VYFI.K8+_YETWLXNQHKY6@C5@BC M,QL'M(FQTJ&3QY3?!40+^FL\1:N9]CA)GR_L# M=@0[T2EP'H%YAEJQ:>Z!7QB$["2"UG-.3Z)7U.Q#JCT-7W28(^%#\R8]H(YQ M*5V4^@LZO]ZSMV'IPWNZ]"O>'4Y^E#BBD8P\!JT[ MJRA4ZJH9(,YAA3B/IM!QS85@%J_01_RY1'?/."&KY`\L99G`0O$KOGK._T*/EZ2CL\`H/B#U%1V-Q1<%('X819HAQ"QR% M6K6)Z7Q_`D`4;70D%@4##1&.Y*MX/D"VW(*$9%?9&4!)V9T*+'6J$R/ZX32` M*5CK>&@.335`<+XC9C,;-EMF(4*SJ^IT9%)N)P),G>+$?OYX$K@4#'4T+(=6 M&B(JXZ?Y9LR669"H[*@Z`RKIE&.AZ5`RL-#I5WCSC' MT;;4IAQPYQ4>)GN*3H1DRRMP/&J55FL1("A%.QV)2<%(@X/D="`&"+^I!ZN! M`TT&KZR,DOGS0%&NGH4.T!U,=`+>H?\^+N,'=L]V3N0RY%J5-/8(:*FH8K*) MNA&BK8"3I\XHLD];5QO%T*R5%@%EP5993Y4D8-:LS0@Z-)`@4ILN)3^J^/%]$N M>L#%I^SP\%BJ8D3M:7TNQRP4$=8UA`9UB%:H(D.<;@43!@J@DM=%FZW)":LW M2WN;DL!1\XE/[,6<:JU@0>DML:.-$B;#&=@-XH0@$=&GI(]5Y/,HA=H7G-73 M31;$G)#=2QEOR2\Q_IT]#J>_3O!#E*!=5)8XAXMPM@=3/V&G+9(FO0@?\C\G M/;G3O/Q6M/?WPELIL++^2,?H>6.@Q]HA2F[Y[MI:]-M^Y57^VN#%CG`IH_R( M(O98\JNZNEGT'.4;]M,ZV^VC]!@B?$T8&;RMU@($XC3Q$R[+!--!_BDG+L7J M.'%(`W*>*`JN.9!K&Z\0:PY_GCBO_##GB0KC41\HRBW'9Y4'XDKP7?3Y[%`^ M9GE<'@UW00H"KU4?%"*+U1]H0T1:HJ8I\,70$K+[K6&A,Q>QEH7&5B!MW'A3 MI"0!M7/E38O<6H!OBI:2'];>]3=%!KOQ9_/DL[1([OJ<+B!S=1$\?7N/UJX2 M6,A.7[4;&DL`!7ZT?3ZT%%V'>ZPARA\9-F9;'2F_Q2G>QN79?5'FT5IWW6') MP&):5_V&B44.&E(I$#!A@E#NI430-`A\F0%+`P6)%W/'PJHQ*? MI9OWY$MC4&&@]X\-HT(JA#!"5BB)D0:)%&?E&$$`:+$S,P5FK&S,XZH=;S&1 M:S-^/6;+P>?*WEHIL1(5IPQ]239=0]!%F:/5"3L9)Y/S#Z9J7E2(9X$E`P,` M*!E54B*I7JSI$`4-(V?M`EBZN1F;"D)6EN8?0;U9I/^% ME7;"7:&S]HBR^5B7Y%8RM7EW00MU6JMPW04ET3AWU=B#Y.:>_9'W;(H?:)F` MNF?':PSB].;L+:6KG-%U@#O8\T MW:NZ,(=WI6Y=X>`_.6.:V*G9T[#;=<8<-=Q1PSXP=SFM8UK](I5^`;B*$3BP M]`_N(`!W"O(=G/25S5A.\'#7*.F`;?7AA/]G.?,IS+6*N2XE;;1"*69EA>II M_W[N+9I\_1&BC@&X*Q-"+7V3`9[@CJCVG9=IM"Z9ZQRWO5/P@7="2@5'+2\J M+J%NNZR5K32*4U0,0!KJ3D-OJ(XK!:F53GA69UR86)<]',')UU.\44I:HZRW MA@^D&.(L&K=0JRL3A5,)<18%[^C#OJ8H8L>3X.HH*\OK>9Y56&V+$+%7@`?J M3^^/:-WT4UW82%8=T:*2D>U!T$3DSG#4,\XTO#V$'-\WO2>2HUT:^.+H8Y9N M\.:P+N/[!%>'3Q]PE!1D07>9EC@OHSC=Z>LX368-OX1RZ0:'556/;9O;AG%F M^[T>[\!66E/ZI*_XCNG[/Z+=_I\1[E+6_C/`Q9@S,"S79ZZHF&/)UC]4[LOC M?@LV'V_OR[II'6%Q7UYQ'B[\0KS>6K)GA#OMBOW_!W(G_T5IZK;HG5G9>9;! MT7Z?'.L5[B:KW@IN*X`4#4#JK7H14FW/.9VJ?`TYW:-Z?$9"AI4(GY;%]5:X MF[!YFFA%[_,9B:5"8GZ;FHX6Z)5=T<&'P(_5K=&&`C)BK6$?*+H8G?"HQ,'B M_$?Q-I*0'^K?5?[@%AB^UCX#D;?50NXFOJ# MB'P1U9]$]3=/S.VX]=[;:(,V^+Y$.6=U@B['`EDS.1\SK`#=T/ECE,=E=)]@ MFE(PC^\/O%Q#GA_)G$+S)CHY&AMVD*[$3ETK9]&R0EU>J,]+0/B]RI](ONF+)?=[%L006*Q*[H5XAJ"8%"E4Z'Y M6Y"3I&`W1C@,C6;")8C%1$J/!,A_^0%;NJD.W@HROQ(DTB`:EIKZ;53@3;?I M>5;(CK9\?-77Q!1>E*&75YL<5R_6'4?IDG@D?LVWT"^G60^Q;O'=KI MC:+,UK^S@_B:!N9R`K(//K$^Z-+`W23X\4R].P8O;@EPA<+R,U=I@UP6*3TZ MR'7*0`&KI0JC(7L$3A7,>L6@"K\X75?9MS;B%0/,N^W%U0!=BBS1K>W0DOK`>H7C*`R.@D3H@`] MQD=RPVB_@?H?"2"<::8^Z:AX`A"UM7$; M[%H:.""HVX*Z=`LR]J)0PP42PEKEK)#;J:',2F(&>1OHI";U15FC54*UHM=_ MQXQ\/2PLFDW3"$&C7-51G_7EA8P6[`I"KHC-10(__*W?(5[* MGQ[!7`/8*<45J-Z.`A7.'"GZ&7\V<(^)B6.6Q*=:1V1;5E%SD-RGH+\7IV,4 ME?QRG(4)E!GJ/#(K\6Z?Y;0BYR;>$D+,V%`D5S@^;R30* M+$:O9X\C(N^ZQ@@(M/99^55*5NS,=SLMC.4,($&F4LD*8IW,`AWJ8-!EJ]NO MFMP000%+:W]&6.F,+ZC92W$C[A04M.CGPIH5QW37A!E4&0BTXN$_+P,)__'< M@WRKD.V9OKJ8G\"FYM%@&S&-CT4:=(!+>V[G'./2(04/<^FIX1+ITA(&`V*S M0CQ0)'4Z;`:ZTEI&&?C`%Q$W=K$O`FB""G\9YPVT?,(*@G'W$X:KK&"\AJ.N M%DFPQZLR>S3,5%4""X@9X3PL,!;*A?GHJ_%P+L'GO>X.QD>8=*3JG,2J8GY% MPKF+'W?K#ND#.OD)W,)C9(0P/D"N@M8'=$BJW418<2R.*E%H)"U)$`5J];:E M`8C:L.:Y!N_P_RG+-L]QDISMLKR,_R:][Y1+%WB?XW4\PA_V*&']X$`):__7I0O([1G565#J"5[. M(/:BWFW3^78043X&B%EX`0F^9D?_^-500*N@L:N?0!<]YD5"D&LD./"':/&Z="AA74^+KQ\U$'=FY1'S(]2T2">QDM0< MZ%;UY+R@O`2`SK%*9Y_('&O20ZB.M&=_V!WU4#>,=[E.[U-#?'&[F`(^D>+^ MG':6U[/S6/_E=HO7_"5#IQC/U#IK9BB+760NF; M:$3?^/0",P)IZ"[F0U$(L^KEYWV<,YDO:(&T49/LD$<03Z MAS+M5X&B;%>H8HPXYT$+G*.:.9VK&'O`*Z/E.J8NP$XY]OJ@0&^/_+>3!S$C[$>#$TG?=I>!#E-?KWGWM\>Z:^ZOOU]]HQSMB*2.(3)+#V&N4Y0>ZYI MDC'E"VFHZ-@9>^%#G#)(1QS2W7*3B*RM$:XAO9"CLXVL74+E)O2VIS7Y=ZTT M*J*$1MAF.2H?R;^JH_`X.:(]479-:%@Y8V5)R'A6/[Y+L^2HEV\$=O]`P/^VUY>!QW6.OE)#UJD.)*"FB MM*A#',![WYG4V\3%.LF*0XX9FJFR6ZILW+*"7(HX6N9PP>%FECZO!?@QYTT4 M;[1G_IUF7@_T>^*)I]?5N33].]PAO)6,L&?FXBB+!^+"$`/<3N'":(G]EA"W M2XV0ZML47`#;I*6H)6T2Q'5.?^25US6]8?=GH+7/IME.R(^TH'-!CZS/TLV[ M.(W2-?V9QF/PYXW-7&:Q8IG,VB,$9NB&H2$VRQJ>KHC^JV'++A\;QJCEC%K6 M`:R`%N@5PNHEZXNHH0--AS*7_0]Q/9/Q3SB'J=)3%U=%<<";7^/RD2:#5QVQ M*%K[.CU1"JM(NET@WA+1IHBVG?]="LX-AQWN0L=<:+(\1@7.G^*U_\"G:9(_ MT^[>+-'=5F1OMTFR^7L/-OMLI2EIE;Y"P<.OGR(DU+";-T0TZ2#-3FJZ&F@4(8X M!UZ>"`2VL<1P5A7/FQMI1$_83Q>''`=UGU M9_7UCR,??W<^S@J*%SV"9K3GU3U,FG,JX?3L-'C07^X'IG%.I]'IWL M8_ITG0IY?9_$#SR@[XJGC=6=]9DHO1Y\F)00SS48!6(DJ$.#:B*XXXJQNB1, MEVC]UT-"#3T4B";HQXH-;JH&*,<)S=1#9Z]F=H*$E:L]#O'E M:(P3ULWO]^L/>'6F+881,& MYVQ'EB'K*+W(TBS_5!WBZ8=+1^)K`/5BBYZ*MT:L.:K;PP^S1>_W!M[<]1-, MX4/^4[;9YOBH'_YA,U]#+HHG!)OEJ&H"/[**SNR-IKPGI]R1D!W4>185Y1T[ M'K:#LY[(VXV)073A))^&DS`"Q"D"0K75,/0/QBW&8!*RS[/L=Q.L.VW\8;HG MF`30]._P(RKKP`&4A=[SN'/O'(*RLTY62K+@OR9KUE>ZO;N1UN?NW4(1_4T' MHZI*L!:H(03;PD]3*+-6R.N&WM;7L0Y7I=L]Z-! MB[R]1X2H!!X:4=V.8H*WY)MR*"`XRYWIY?9I[UHC&=JXSD(\QN>S!039SK_# MIK2T0E.?$?>BF$+L>=T$T3:@.6?GD=9K,+S"#(2H=[D-3%AQ?CS0E5#EYL^S M)*&441+_#6_>9?G[+%*6>K"@]+4ZM5)"B`AD1,U:!/7I$"%$E!+DQO.D%+*Z MR1RET2VM:E)@&CY!GY&M&1G+3D_9B5?\$EG7$?4JH6 MT_1ZS^Z)-#.>G^];.BG)/..U?URJ1EB8ZX1*W8J\KQ5)*#)HKT.31"*DE_=LN[^#V1XM_(S^0_ M=$S)'_Y_4$L#!!0````(`#%K>T*][B$F&%$``+]+!@`5`!P`8F]N92TR,#$R M,3(S,5]P&UL550)``.-*U-1C2M3475X"P`!!"4.```$.0$``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`\I)QY?$,I2VZ/IG'.CQGY?\JV=#J?KE!2L*L561DC]337BQ<_6J#T M)GK,XN#K2QS.R.YQ]<^CI_Q(N(;.F!3U9_$,0Y6?[1XI[,*,!(&D2G M;W3$5[)5=J95ZX[?G`1DF!2K;+'U+AV_?A.]$AF)$P4&U;MT_/I]$I,=(EO3 MLX)`6E%YO4/22Y;5O3--R!F_P,\AFJ2IPN%RU*^S9`1)CF:WV'_&(>&V/(L: M>G:WTZ?K_8?.F%9W81+U'>?TEY\D9!N2 MYLJV?>?S8KG$6;&W$\DGFS[=`E&DLLGRANB\>LA7T)/_365'V77INH.31O$: MH7,4D<,YNR=W)^EI-/;M*K?YBK2BA/;#2YP&89SF"=H=R2TNV"I#=IS]`PKI M78+<.K/U$Y'=E$Q&Y5[([-^9JL\I^F=.2'!%SR+I^1SU`[P/G?)>I.M^U&4. M3SXY&$^"MOJ2OGN9VM2/.^J[HZG-Y+AC/__=W[U*8E'DC?'5!U`1YV/-W]2U'8 ME`<6(NG_9+Q$F8_#=-3G.;_]ACEX3P`7\F9536%\0HJ.#U:)%GY9B9&HK&OOI>,ML-4?DIHVF?.QYQU'XR$F>, MZFRD-]&FKMIGH[@$V`/H>X$J2E!#SW[>H(KS$HS2ZQP5N2HWF.9WLS*;F[MK M?SDK;V"L`32^G17GU-15_VRDM]7&OAKF\[0_IO3&VMA7/WT4%R%GA%XT'XHR MQ1^DSQE*RYE@E#[GJ,AKJ;$TZ9,4^7S83>\LI'EYU$_O/*3WBJ-^>N>A*#>, MWOUI_12%1V*DWN>J2%+Y`?5I+)6O/D<]M<]%>F$V==4^&^GEV=15^VRDU4!- M7;7/1E&^V0/TX`?1;HH2(YU.1Z]Z+5(?N2>/B7:TEQQ-:X4,[PG](MG5U&[J1[T M/NF<'S/"Y`ZSKO4_T;R?8K*J6LVXUO-$<[U#[6B[[7UHNNNI<:[9 M\3R5";FC(-FE5@E*Z79,M[%;,HV]"9+M#$4S--M,D0[0)=JD"`B*@[UOA#0$ M)TY$^SC]C<<;?/*<9@F9SF:@D((LAO>D^WH_EUNWU!PK,A0DGOOI[.)FAY&\_D!YY M2J88%Z8B>B83<'.4)-61Q9E\,?.PDFH@_I'%@V[(CZD,#[>-O3$(']G,$#"M M/G$3&)>BX*=%_/I^AG#),_+#(:O(K[Q24!_0`E/YC+([?]FTV%A-O3,SV+1' M_GU6<:;.9-0I:'Y!IIWXX0TY1[[]#UISB7[0UOM@$=6/Y[XA^^C$=+_($PKO MFKRO_/#OR$_(!?J20&&0GM7<^\4*ZG.FOV'`&$3PKW&(D@LRDT6<\,5^KZ7W MJQ5D;Y[YAN)G,%M-O%S&95CHXPM!FT[SC(:'TT0T_'V'T]'[S2)^"(!LV//A MQ.QY2GPZ@\?U\CD.&9S8:^/];@71#^>\H>\O)Z;OYD;^1(9ED+?>Q/MH!74/ MIKPA[J\G)NZ$S&%&YW$=^JQM9*^--_K9"OH>37I#X=^`Q'>K[N/<5AK;>B.8 MYW!;B3Z:_(;ROP-1OKP]E=.Z)K]K>L1RVWLC0QZRDAQH!+#APD=0+M`[K#P/ MMJV]D1UO5,[T=P\FD.OC7R@,_R>*WZ)'Y*=QA&8W:9JCA,$&;A]O9-/3E0-B MRY)3/V++F?T9ASFA7E(^-%@KHK&M-[+C_M&R,6SY`?.XO<^?0QQ-;'J['DQ\2V[&8_7]H>7J M$.BM!FL6.ST9E)EA.K_&$9D')K>7N`PMX%B^5+H/QB]5L>83<[!_#?8O@QE7 MQH5([!W[#2VPA#$GKHMAKRAYCG?.':?E&W65HZZWY!\:??3JAX@ZXV87?I*L MR87E3S_,>5NI5']@R]LQYYHY+(O%"<974;+I`PH0@4KVJSN45==5WO+E=`,V M\UF[TU9U.,TC:<;AP!V,#8GNDL-&PSKTW\WP3FKHM\FTPFUYL! MFR9E.7DP9;:-V"9VW2=HY>/9U3<:CX;((33-7E!2DD2\5"5Z`YM`99DKAX1M M>+:)Y[+-C>.5( M\'D'V@0EE!(OZU-WXYES%V>(^027.H,E1X`VU[?@M@(R-]X_M:>=%.L;VT.[ M`[1@-!.'MD>2`<]:X:,(VIM`[0E4=R$X]F>UYPU;RY1&LV<>E;R2>-/*#N&- MS/>Z;X/)C=OS1A]^[Z_I:2-O#MCOX(U@]5%*C.-;!HZ!.?$DOLS14ZQJ^V%W M\L:PFBL-#.>#E8[`)X;KRK+_P5IG=*Y*=H^ASB15F550$,^"C<4EO>;J19@14&&#:V],^B4*%PF-7.6@<,).V,M M5Z`P9O2@J7<&G5NE!2^;0+AQ!Y[,9KB<]KV/9S=1]6:K`>9IE86=O3/H!"XM MN"T'RXU+\@.M/A*AV96?1.1FD9)W7[[,"W/Y)9KC`/..8'%G[PQ:5=6"_W*P M]%VSX4)BCLFC=.'RSJ"]OEIPMQF&MHNT&4X8!`&1).#0FGAH130\(I:QDW"YNUW%R&>?/V3P/CY-\ M2+C!J(QC4[HJ15Q.*"'V%2SDQ)LF!M M`S+%=R1[6E!]1QZ)&X:^F@JUQ7DMT=N"XC]J:-SP83ZJ+25U3'-Z65"&2`Z% M&R[,1QB%IS.C!W2NK$Z,W4'0YKIL%E?ECF5N(3D+JBW)XF`77NK,Y),KC[=T M2:?SZ0HEI:?NJ17'-Q&9'-K.14)7S.@QJ(-`(&\RX!_2*HAS) M%"$X;&J17K=AZDZH;A_]D*:_*L#1Q&%TGYE4?E%E9SVF[1E?/6I@D'C8I(L^F\V$2H M0PM*7G&`TL=D\LZQKH5(W+B#ON(0C+F@N#\XB=?48U(O'L1LQ.TAK,%I_E@W%C9EXA, M-L`E-XA(+VF)WG\5_\EA,Z<7=*F`%GP6H('V%6&D8J!JZCPLPEY+I%$D&G?B_Q:H4P7'#\^.( M,"IW9>@$_VVXVH3!A<)86V"EZ>B6/.YD6+EK#9W$OPLS]U'H*XH%Q\Z[.(KW MT6W*\8G?M,*^T&G_51ZW4F"@KTBZS.P9(@S)Q,^<@Y;06?[E>-3,WP8HG9^O M'TMF1FA!?2B@'C:;G,>??1S1K6D:[7['U^X+^T)G_._"<"EP;CQN_TIPAJ;S M^71^6+3E"(.X,70:@BQ3(H>N^KYNP%10O"2:Q1"\J9D?H MB@!=V"]&YD(:AS8\YQ`%5K'5A=U<4"Z8GG8/D&M"N#(=7$[`[GPVS]$\3E#9 M[LG_AM*K;X1J!#J._&1=7()I`CK2DV`)"SJ5%R.AEV4O7X6N.M#M2MDK65S0 M%FRA5U0]1Q&:8WG/7F9/Z,H%*D]+"2AN*'2K`',&7IZ/"K$ MN)PPH6ZNUNJ,%_2$KFW0GO,2P-QX>Y*'M)0F>*\==`6#]GP]@N&"7^$FT=TF M[E3B>&9U@:Y5H'(N\S"X874[1'CNISA0X&K1'KI^`9=-FY5*3L=*,243`<%O>+84T0)&?X'CR#3G\+LY0^A37$KQ\072CYKB4"_L"9140\*"!89)@#&,?#>@E9XHLQQC- M@9(&J#.)/7]MUP5M^QR9W>?$)[@$+#EL")0%H`4S&F:N3>VKBPT5C#B/TA4* M\!RCV66\]'%3>).@!U"4?PO&\"!H,ZD"9R8J+T1D*U@1R+0,8/,U0JJ?*2E1 M9?,5,3"`[8':\^HQMTQF6U,RG+)8PS"$-\"P.P$5HTB8D*';*6VX<;6D-'^K=D*`.)Y=>E M`QHPK[[<]M`Q_2TYRL2BS8D!Z`JU]$7Z'[T`\*4@AWW>8.T$'^?!8ULY6-Q.YK<(T"=_Z2_/B4^%'J!Q2# MQ'PEWXL.FX*']3)8TL[!I_I;OO(<4$&^WS3V@H_I565_(4E$=[PZ]%7_A'XX2_:%BSZ59R=E]9;`YX9S,0%ON7!U$X6`` MJ'CR?F2A`9P;T3&3V3_R-"O\0YYBAMVQ<-OF6F`EQX"*.^\H$TKXW#\NZOZ. MY<\9)L^31Q20EAEN?8P(QX4*7N_Q>)'"[$8N"^[.VH-,20X,%3G?YSDE!=J- M@&S>XA*=6\*^4+'W/6XX6UQNA&ERET%+_MY0 M`?PZY8`#K+>SG#>6=6:6N[`)S*P#N:RXK M_"6-.FHP]\;RSIS59![AW,J+NRK-3;(2>C%:T@2&HCIVZH-Y9\XI+]E`MR+C ML,I2E\SP1O/.W%-.LI%NI<9=E63QMVF!BGN-:3V6=^:`SO@Y4*6"5\6[F`4LCJ MD8MVE0L^6*5X96+8^7U9S<.N41#L'M=R_1]V&E+_J*7^;B,C<[0S)]&M& MD*IU-XG\2LFF^#Y^H^4UO>:;LI'3LAF_UKXJTKL)^J# M`248YC.4>=M4!^=$M%++-P5L"=16W))Z9[C!U#TEVP,*XBC`(=J#^A3KVQKZ M^!Q0KN4VFT=/\-V(?[M$9+(!+OA'?@Y1P3H,#( MN[SRN@%GL#[M/B`@A".!L,J.8\T>4\#IKT\K&6P:N!''2DV%?A1L,V)&LXWO M-ED*CRAYQ0%*I\E%Z&.N?DMI'.B$VZ<5(672:`N1S5"B[;YQ1XA$*((C,BA* M,U366V?=-YI;0Z?E/N&%@TT`Z/!7!G^W1^`\3D)"")22.55'('E9(?Q*]<2% M2>N5$#!.F@RT+4>"3NE]0KEH1QPW0F4_^SBBM)Q&Y)6UBDM'E.G\AC`\6E`G MM@FA!_?"*CD"=%[QTYXO"D3I'FK[L92C""VH(1A3)"%5NL?R=A,EQC'V@&9Y4"Z`BSBB!"B4U?XS#IM] MBB1Z06$_:0FVB&YCC"&;HE0CX[W"QOEBL?)X6AHSBD>2\? MM9&@\ZV?^.VC3AP-8<)F"%A`W990;@J]="3:%:D8Q0JW-H-")6/OV>1D87> MW3)HIBQM#M9[?]WZNEKUA]#/\K(+8L&2*]H$YY'H_0@4#GV.[*Z66[4 M8#NA.R,(`X1FZ36A[$4KS(C0.7B[T=0Y#%#^[WWM*LH>)L( M^T(EZ#_-'M*$U@T]F3S=M-Q$H/+W]R(F:K"U74W,N[]>X\B/`DWW5\Y@4)4` M--Y?!>C<\*2O'ZT[E^_;.%IL2IQ+WD6:.T,5"NC(6O$UA`W7B6#-![2J#E9I M86!U@:H5T(L(\$"Z89VM(RPL!"W8?]0/J@!`[S+0B-2-ZV8=9O'0$AM06%V@ MLOGWSOY#D&[88YLVN4I5?$LUR-/G$"]\4?[(C@X';#[%H'7?-; M6BL<&H?=H'+S]RX434"[VUM-D(+F"W*9E;*((E5^2]3Z0F7>/^%3X@"M&^;6 M.E35^@S"OE!Y\WL7"B9:-X(JZU"KN/(-2D'J#V8WJ(SXO8M"$U`'JX_V5(T8 M*"%^+U(A"QBZ8NFI-=A:--=0J?5[D10UV/J*G`(:/"C>232C_U"_@5<_I-?M MLI#$H0\41V!4AH'*W]^+R*@"UU<8U3BAF1"R)LF:4+#89)6EY:`_5$V`$XI) M`V)]A5#+Z@&/&7DP.RTE#BE)I1'KJWT*5F/B/$]QA-+T$J5!@E=5"M?'?+GT MD_5T_H@7$9[C@+JTE8[VM+Y1'.*`WEQ.G83U:`8R&:&9G0!*3TR3A1]5R4]W MU3U*FM_7.#N=5Y+KA[O"'S1/:AB3*S2-?^$RYHD(PGG(5UF=>BK`Y3.X8L#8 M!P!(U)_]_22[255&ZL2KJORJQ%ZPWQ"D],QA\2EJA-N)BLS"E1X#>,4=$9NQ MRE3P6+X\:L4`3[U&-N?\1;Q\)IM5H9J56#&\;@#KIV$Z:HM';@#@E2,@.F,= M24.S?!'5X^M/'I)9)8BL'>XR&868O0"64,-L9!8.KQOP;S)`+5]S#?DP3A_J M6.2SHE6OZ&3\4.91Q>D%L*(.$JAL)K5'5[55UG)$Z*..RQ7&.FL/U?*U1YV# MLTU@Q`M58/MI!928WM@=<)DYB,)<+"8/D"*-26ST>EG4Z] M%+:,*!QPM_.HW+2I9U5:U%,J9KJ)-Y=9,IT&!EA:TA,^KT]89A%V'!EZN79E M)&-9=Z>*Y1O`IJ*4_))GU$\HPO!*R\<3&3'U`Y%V7J:;TA)4FQEOT4CU`UH2 MDF0[$'A91):+,PW?P&61`NK[LJE$`>'GP9F*TK5/:1R`(TMJ?C(GE-I`P`>2 M*E<8YX\R9LO79UDKY,G_!F'VJCZM:/9B]@+1&Q[-1DYAR.X&;O;BT9>I%^3B ML7R-7"U78;Q&Z!Q%:(XS:GF`.+RV=V&R,3V@#"=HW^PA=W3)C@)S<-5GUT1V MR6-+>ACX0TN!'^PC2P6OY8OQ,5^MPH)&?KCW6/33E^LP?KNA]3B7(%J3^M0V MT[DJ?R&C&Y'I#K$JJZDT$UYN14H.`;P:)1G`6H;R("U?@O5D#?5GZZG7&VL> M$FM-U!5@G;&FI':S5!@%>+5)L("QTM0P6K[8'O/G%/TS)T->4=>RDR^RP^]+ M'63-72`\XP^F(N4)S^H#?CPQRJYG^)T.C]8FFNQD*@-X,'F.>E)5I1I MX$;^?T+!@!`F*;(:2GAE_A-6-HD*,5"S2)X94?P\V*4G?6X(D"=S(XE^K"RPO M)>Q.'FPFDIY%@XL;NO`EXY5QX"1=UPK)7B=;C>/!)F;N\P72@A1N)&3=QFW* M;Q6L+AYLBN:>-PH.:F>RL#;'%\I+ANP0'FSRYIXE18$*;F1NY<38;?Y40N>( MCO08W@@VR7//PJ-$!S=2NUZBA-S`,OQ*RS>NXH1J=*;SW6^K7',\Z9$=PALY MJ41M0P9]:5Z![R_[BX30#6?HEH"="?<<85]OY+0>50J_OLRNP(]BQ?$=(XJCIC9S6LTJ@WTH(E(Z5&YI7"K8$ MOX5]O)&3:E,IW%L>0^E-=5T94D2(3BT'E^0$#./B$;^W^7$O#<+>WLA)A:HB M!;;28KLBM8H$4E&D-G?Q1HYK4MFPM\)@MR[U9KGR<4+I,4TN<;J*4S\L"T`6 MKZORN47H$.8SOL-4?8)Z^)HWRDR3LA+ MHJ"G-W9:=RN!?BLA=JML=XE(ZC%XTXTW\DWA@4564A&#)[PJM1C-&SNMR&U) MD9USF]72=4WVYJ(F3(UZ-Q&A6;[<^>UPY$FJOS=V6K;`^CE9,$"HO5,=Q^'XFQ:D@/:C%PK'7AC`=$[=_RL[UOGZ,XH7 MB;]Z(0LX?$"+%B+3970W@W/T$LB-R)T=.;;7L5*#0$A=2VC\I2CDC&;3Z`$% M>4(.HD41XB04REZ^XW9TD&Y20<>8,%W$MY6QMJG<,DI.3&9;W9)*L&NYK:_U M@&[&''6FB1NA)MLU)+%T_HCBYQ0E1:S%3;3*,^I/0@@>XO*&(;'/]?$YMR.? M>J)8CX$QIRX<"/-:3&N/;8W3K^1//:Y[%1T['>4:3/2ZIMWIY M#%8>(LI[AX[/`#]^NFTLF@C0HVKGU`5-80YWV+*F0LW8]D.J2B]&1_"\S0KE M2J4169XEC%&P%&8]?#=E2SO%R)JRGOHH4>K0RCH\5V&6E/GE21G'4"/YA&<0 MOY?=)4;E`%J^:HZK.`(=10X4&#VRUAY254WA(AH$^CAJ4T94"9WE2ZM>.11F M4=E;/W0G)UOJJ2V>XV[0Y0D5JXD*H#B1='6'\8N?Y4FQ"Y3>_D_U=:/&>;FA M@/65[:5!&AZTJE*H[GB(UWY(WB2;BIF*2@]N=V!UH2Q[%2'9K@!L+B4,=#8. M!86/]I;FZ(:":V6(0[I)5--B7VX[./2YW5-982V$<>P6T$R)!T1HB4GJ_ M_A%A0M\W/YEI%T;%+T'?(8`D4YU*/5Y%3EH!6_6DLJX.]H[U%63I):;2W;ZJ MV/+`S/0,.9H_=3TKZ9ZF^;(\95KR6#P4T#ZID]]2((U_<6WVL4IZR1ORCY0Z M).P2$2HZ'VL8&NBEIE,X6H&V_2W'*4L.\Z!3*K?.N22JEFT'C%TI/(>^X`@O M\^4#96ZXN>5=Q\ET53BR18M;1&YPK6)6VH\/7\58B8?"FW`W4EANR-CF!8+S MVV)6@.?Z;?'JQFLPF-/A;^,T/4?S.$'W2?R*4T)R(A"'%).PH[<8#-R_BT?? M9F-Z.Y2.J3GH8YJ0@^P=U-&M@ETY?58UTEOLULJC`JLOE,1'#USH"[IN0;J: MSQ&]>J(M`1[\#!U$!ZE+DOJPP.:6CJ+4"B]TG+U^.WLY9X*^*>ZVE0E>843@ M:-2.$J0*MEX#6O?H$-Y.Z"J5S MJLAT!WWZ;2;5S(@VJU5I1/"ZXU+L$=\A%#%;_H[KDCOI$F4^#M/1D#VI:_8D M35O!9A*%D/)6^%Y#-W,E,;'J6K`A;!*'\_7VQ__&*"$T?UG?TLS=DV^85V18 M;@#@=^`QTYJ9*PW&$:97V2!*'>,1X,MXZ>-(AOP&\O9>X)A*`1H'LL'[=B>=4+.+E.CRS?`=2F[3.' MYV>M>%[U`JX7WB//=P"U:>5@>+Z]"Y'G'KHA/_)N=\>-@>N`R][D&B=N^6JM MPMFNEJLP7J.-!2*]R!-*.0X7^1V!2WFEWXD@3",OOYUU?5K!OYPXOJU^MYYP?HK0J47"'N%;[_9:FO(;W>,'@V]', MA\?2>'@M#:\EXU]+@Z5WL/0.EM[!TCM8>@=+[V#I'2R]@Z5WL/0.EEZ7+;W' MP?WDQ2*V\_*Z663E%<`8U!9G@X?\X"$_>,@/>I-!;S+H30:]B3$/JD%O,NA- M!KW)H#<9]":#WL3XFYR+>I/F>JM-Q=DGV5:$Q7J5+L-:I'?I"'/0RWP8]#*# M7F;0RYQ<+[/-@'L1^F3[DE;''/>S3PO3B,$1SM;4_]5U=3:-'E!`CARR^9[[ M*4[_B.+G%"6OE%[%770_I=HA?>05-GU]VQPE3[/D"`2N1[(8YHY?)=YN-$;Q M_?/%/4W1]?3)S7U!DB>,86(@O@QO"<"7"N6!3-$.G5A(VM#)\F?K$#AB*^>: MU&E_X>SE:$&D^RLBW5\_6XDNQE*T)W7^GBD*JUMQ$$M?^'4=.BMRM,4TSC#) M8)+MMB40@SZ?R3Y-F77#;T*3[GOJQ ME.8(+6B5-[LDV:RM]:/S$BK"K\T85.ZM5]',0LTPS?";$\A#N.%WH2#-Z#8S>#.8:2M`Z,;SCD=`%6+[7BE`0FR_?=!S]: MB([2;1MO]+,5)^;>A"UW\"ZP"#?%6BMO!*M/VB<^AT&[Z=I]"%;Q(\FIPRE;?BYU=3,9P2IP.OB9C#26 M0X7/4/HYCF?I'R#@/+?8JE<3C M1FWS:TP3R]_B5^J"DY%;!28R7I3GEN*]3'=O9)R7$YOYLH!Z+$Y^2O>*&?E\ MAE,<+:Z^K5"4\GA]W-@;&><=Q.9L\_0W?/Q@-1__0GCQDJ'9A,R"G$QW.;WP M7^(PIS4C7@@MTVF>I42E8Z*F!"]^BB;1[`$M<+KUDUV\ M9.EDD:!B$^)5[)4?`=B+6*IXKQ(:,!MR)V;R:_JJC`'D(-R"4:TYO05JZKK= M(N7"X&^^K08#^Q4QVWV'>LR?4SS#?K*F!OCI_#&+`U8]=F$?4T+V M13XDG/E;[OQ8`W3G+\F/M9NE\(HL[@P=\&OR%\:3;5MAC'1AYPI**K` M++]A-,&=+`N?D)UOEJ(<'/4WT1]=20`:$6ES;32'\P^(OI%HIK:.6P%[(!-= MU95D@0]-F^,B4+*7IF/RZAM*`IPB\D(.T/:/K6\8@N%,=&=7NU9(`#348Y)[ MM[Z)R!7)#R_BY1*SW)M;C&*BDWNS&4\=EZ$.E%P@D]D,EY/LR.FF@4ST7V_! M;!8T:$=,33>#.%H\H62YL6;M,);W(-Y=0-#51)=W]NDO`<9VW\Y:,84J$^VI M/3LWR7,)=9]Q5&8,EO#SY'4;O#XEEX.`B")5NQL^H.R0Q/2ZGSB_'Z;81F-W.?$G^&EG[R5>V,@0]?5W6#^KH>3T MYCE6J-HNI8FN`ZX5LA3PORVD\R M_*^ROLW^QJI%M#CCF^(-JU6V^'C=\-J0IP9=5&\X#(6ZM;9#0CO<]B)#1Q#= M\,Y06$3%>BG:)3N-7[=]:&](<%_>?O:>(XP]9IH"TN".!A7NH,+]KE2X7=]W M=BAD&R=N-^,:-NXR$\4F3U%I@9TF]%]*G<+1FVSB>!&IGGH*`P-K99L9+7WT MJ0%U]3''J`T_R;9U3-7$1SP>L%JWH]1(X7.C6M6PZH$[H3-2K\'?G)TUNL37RJ\I M!7S25J_`D+8&ND#HE)@*H;8\!K1@S&'U@(]CBB!;9W22E3K^> MK\]1%+Q0Q:;`TB/J:HEY1P*&:RS>P!,:<41=@:TV,JR39?H1,,-L,Y^3.-U4 M-+_Z)SFJTFER]2U`:)9.(_0%AR&9'=],HS`$L,5&ACT-)AHU@/8P^.DM[LK@ MPR&`K37Z&=P`T%VK3D_^&(;8:S3Z8U@?]0KGD`%KAE%DLAZ'#-O+KW1/1P%K M26G!+\;UKA&:W:&I/V`59*'>S<02+=(L/@3BAE?+)HD`YZ+S%Z(9O]%L0B;J+]`?*9KG MX2V>\ZPE788UL20+\Y3H"A3:U45^_3^@61Z@V2["\A;[ST4Q`58<:LN13*RT M(KU+2YJJBE^7U_8UZ[J4O<3A+RX3A,EK;PSXFUDMI9J,(18^^(2=Q&;B) M"#0B!ABE0.FQ-S-87^(T".,T3Y"$JP"GU^`I(+D*^#3\/AP%AL0JEC)N*[QW M*%/9+VK-+4J"PIB^$^$Y6VP/_ML7GYY/?LA;A8WM@2W[+/X(N'F`P"UV_A4G M7V^B^R0.R#58AI]['8`M^2T9>@@!6H6CF:6R68>;.P`;XENR]!""&[J=+;SB M@2/#RJ(AL/F\)0LW4]>F4#GT[H9@W&3VCSPMBC5)L:_6'-@>7$M2E+3%A_=W$45#GD59X?1[V,,78K/4,:84#?=AC: MR^:C?`>!I<$4]8,V68NXT:#.E('DUBN$RV9.:VB3LQIS!4"T+'8+P)_H!04Y(A:.%D(/[ M#8%-&ITX>(3$\@B%+7@A#P]:`ALQ.C'Q&(KEL0H7\7*5DY>&/#<9/8#M&IVX MRH:DS=X!Y)L3S[,W0C\A4_<;`ILW.O'R"(DVAU"@.-\\B7!&'(>L;>+%=)_%H\]<1\YO2"-HITXK0`E[8< M8W9Z3)H2Y]4@] M&RX1F76`_3(KX"I$!7.B63WS)9,F')'0]0EH: M<+9J,"[\%:;W8*IBFY4Y-$2Z"U874_*"[G&'8>)A0W#"6[>.+[U%!"`Z]\E& M%:#'%X2RA@29A^_P@GN20M#A"Q95<=.'&-JM7Y>M.,VF\\TQ^(!6/DYHP=,O MY.0C[V)*&*[=6-C;HGIMTP9=:)T-/OYL8#\ MPVE4S!L.0[(DCF:DDJ5&:9Q!\R2Y/E2I^GUHH89,-I8RCE^53&*7D1O`HFPW MTH"<>/QPT(J>MJ*NP#HG>3XJR\$&GNL24'N4U0W+[62",1BP.JM'*6$#=L/X MWD"OJV]!F%-/_8FV"5HT''6I@@H#5 M2/$][F4%?/)YG@:TY8C0X0[&2->&&&X8E=0)882[1*V-RITM(<)8G9$D![+RI@A M:_SH('Y'Z")0)Y>8"K.VP&&04*))$"0YF6!5\PJNX-"]OZ8V9NKO5,S)#U.9 MP"%VK\%Q0]8'G4O#P4UC<-,PF'$-!?UVE?S(3RDFX$I^9-<^3HJ:?A?"U,-= MAK7(I:,C3#="\NGY=[5`T>T')\2U7S')^1_/"E)C<%@)Q M0S_7AL=LJA@7423:OQLQ:%..@;Q-;^-H07ZUO$3/4"GIBT^KQ!8T=QC>HI*" MSR3?]_$,K4N\1)**IN:6/$494W>+?<+,$\T=@!^0+-;(,1(\H02CKLU#7'_E M3N?S]"7F)+$5]@%^X;')OL\F&1R&<>H+G@7^:A+-'LE])HBC/_TP1.MS/_K* MYY:H'_`#38EC$EC`4D8PV*;(+18PV'>5$I/8$,`2N#-XLYOB='Z.PD7BSP1; M'[L'\--(B4-<%&!YV%E,(NC)I?>6/)-PM"!KGR:)(#^-!)SB=P/V]U9CEQ`* M6.)U19Z-V_%L;$1"=2T\&\-G4>?>+Z[S8L(W&-^&0=O+AN0@T,[,+:X>"LB& MS.DV/+B=S)Q^&_M16ODO<)_9NV;0SKE*:8P/)^Y$?`G=C9ZJW4BLHF]H#>T" MJ\C"QOF[$>E,0=U$:9;DE!Q_1'[I8H=F5(<;YUS&"OM"NZ`JL5D*3?=GH0E, MKTNT5!WOY@[0_J*M5_$^!&VO2%-,;*/!QC;8V!RVL0VNGI8RKKX'?_&S/"F< M'6B:S'51RXNFSL11@%=^>!,I!,)W&M&Y MX3&J#EX0K-YN0(O\2EL#=,/55!F^(/J\U7@6.::VQ>>&OZHZ>GZP;ZOQ+/)S M;8O/C0!Q!?2RT>%MA[0H@U@'B&[$>N^K)2_\)%E3*^U223>[W\V\-/Q,]@M@ MV!VY79?M2G4W'E1W@^IN4-T-JKL3>%.O_3!;WU?G:)E@XPN.\#)?;GYYR0NT M;C&*!:JV=JB`%6O=6'P3/;W%]-[4M!;;#62!@JPU,&C56&=F4XV-)G9OA[)` MQ=4!&K1RJRO+J=9%#\>W(UF@I&J/#%H]U9G?Y`&LB=^;D2Q0,[5'!JU@ZL;O MIQ>4()\J/SJR>S>0!0JBUL"@U4+=F-V1Q1:H?A3AV*\".O#>>B+#Y&3Z@R)H M4`2YJP@:\B0XQ;XA3X(YFKW>HN\MRI<@@<4PKFD*OKALFB5`D"'&!Y$O1',6K(HDT$5#^,TUR!.AL"K)/-P4XEH?A2R"]\Y?B9Y[2 M.-")%U38VUI`]N$:]NC8**&H.QVM'D&S%4P3O,!1P8MKA%+^QBX]`'32!G5. M-6S_2F@-8_5]LO&9O4=D%M2+EL]:9@?HY`U:6,E%9_EFWCD?CB'>.RWRX>C( MT*!_B]UY,)_'21*_$0F]\%=^@+,UTY%;OK.):1@^,/=/*3A.!*H>)A0A2&;R M_&\QBCMC&=]$&2)\R:AD7LWG*,CP*R*0`\JI!<^?2&D<;VQ(EE'U MA2R!3)L7GD&"48H]#BI_0VE!..CGC0WQ4U)G?`.2#:-_E;[YU=RW14A9?&IN[8TM MT%P)YK_EC]TYT^Z3.$!HEEX3(A7F%7I><#;,QO;>V`*5E1#!EJ-V)S6KRHN6 M,KLK+CJ)9E*YGV6Z>V,+M%>J@+;LMUMI-4DRG&:3V:L?!8A:K:O-ZW/N)SYY MV2%:17J)LR*FBB<'*N-X8XO45LK(MI)ABD\>O<_[85AHW;D&Q:.&WIDMNJG& MJ6\Y8;=&JCAVZ@X,U1V0LQQ97;PSB_1,/!!;UCJE4RHU*33KE[R%H-[).[-7 MFW0`8\O@'G1))PG>?D\H)`6&KF( MTRQ]?"$\+B:\B:&6B?/M-/`0#RP;#]R5S(PUZ%C<\)!`SE;&4=D]/]PL)PFY M82\*J.?K79-*O"=O?C*;%C#3:9Z1^U\1)7.7,_Q6>_N6!8GK^L2N2_)6A3V) MH$DRF,M85^)\IN_!]"8J#6.?DSCE;C_ZOV9!8KU^T4/[`>HZQUC@I1MBNJ1ZW+N&W+<@?>$I:=/>/=$%B8>]XQIFL3GC'TY@#L;SD7466 MRF!UCM#W6>\R>/0M"_(N]HG=#?=2C:OS+X07+V0[GQ!`_@)M[CCW"0ZXBJW3 MS,""9)*GIX@V3UCS'\NIT@NN+UG6-PMCTE+H$&B]9''#[;'ZE`5Y%.\X)..F*4ED%$*&A7<#/6@3V7;^`L+";>OO=2 MMPQZC,W[&DB0)6=@3+J9TRH]1"0!#R=@Y2GN;2T7+Q(:AW;MX^1//V07NSCE M'`S,KM-<,N/41-$7'6&^IJ/+6UI*K(%F8F#&H!/Y$TB1!CP"1/<>O#62@^[" MK69A8!8DS?MP:[+H"TNTW'P,Q.F@6W.WW`PWA@ M+[NO!EQV7TM>F&_2`R&*OF"DUFJ%GD24_20]W7M,90X&)M/J1T15B>)V.-5H MB*<:XJF&>"KMS"UV'(D"C'OM+(FB.IRSW9QJ;QG?T2&:W8=^)%7)HX_/`8=1 M'\!D8T1DR-[5AS3S-(1W/;0T4L],;99C%@4L%L.NL;?&F), M48^_!:Q*"6SDN/IGCK/U+H]#6F3M>'KQH^JE7\*YL4E`8CR$4DHV]4TEG8V]/[`DO[RI3F=%W]-)WGV$B?X M7_Q4C[J_99YQX5?M;W\.=B?JS.LBS*N/0[I\K^.D,+><0`X//VF>>:!W<6P@ MP7=NV]IZ-4_2-%^6U[T'G'Z]3A"JEZ+M0SYEOVV>]E^_H"K0HKOURJSPG6WL M1PWZ4<#^"M%;*"UGHCTN0O'[!JKPC\3QY`3I;HIR;A<]H-B?<4A&H_4K3[F= M[)-H)!+.7CYJ8*8POG3V1@7HE+H\=0`/M"BW M\!^5CUCUG]QGO\;O&)BEB_.\UPQ\2$N+[6K>_E"7/_VOF^Z')^8&^PTK:<+:OO+3XIW5A7&)A^_QMBBB[5;KN@G,G!* M/DC!WX;8G=6]OVT/'KL(_32=SJL]:9H\ M4)U/S73#8:.H*W!0ETII!@DH!F0>8NS_FUGOIEMZYMZD:=ZH@)+H!1V6)9NC M6(A"FRLR.<2U/:I8L]X64%!EVK8C="155[[5@4!GE%%F7E$Y0)UU13=3XI_: M,VX#PPVWU3[/1>,,2NW/Q=_Z33("S?"]HG;;/Z;57WEWW#;#F1<\I"888GC: M_"E/<8LJ[Q"2-2>5QS`O`$=VP^=B@G8Z5.3N]KZA@\WK`08][A-8_"2_BB/J`$CSDIY1LSDG!AO.U1')H85]+ M'HPR.)SD,L4GS`@M[`O\BI3BGA+C]Z"9J3BX)$?3*YGL*[K%_G-QRC*3\TKU M`WX<2G&"?0_AP;)[Y0X%+6U-O-NGCXEQ+T)F21P)*-^9[Z5Q+[PCWLFA,%OI M=I1&2<"MH_;FN>MP^=0T?V@72_/W4>.\=-KOHSJ*VQEF=%Z(J]OL6@'K//8HSV'.=K)VLZ=*JR!DT%X[8(W& M`?V;F70X8,R?4SS#?K)^]$,TG1?.,H*S MB=G'%%V$2,/$F;_M[-P!HA7*IO/:14M<[U'8&5IAP6,<@]:N\+?3>Z M#_V@D'[AGMO<`5K)(<6H9B8S`=G-V*I.\;V?[#^8SM?UOX@>$M*#F*(!$;TT M5`!I(H4']A3![OBLJPT3S?7./*C`$<+@>/"44OH M:B#RK&B>.]CYQ.#%+5YB@F>S>`4KH[DU=.D+>9ZPYZ_-?J*)+U_P+/!7DVCV M^/K,Y\EQ2^AB#_+\:)Z[-E]A3;RX1,^9Y(;5T!2Z0H(\-QB3UY;90=N6%05Q M&!%`7R_\%<[\\#J/9K=A(-J[N-V@BP&H;&)"(-I2-6ABV7D2?T4)X^%ZT,*8 M%/>,9VG#=$T[/,K9,=^/1VV@TL,WD9))[-U4#7M7E-/C;S[U-E"ITIMIR:3W M;K)VO[T?7^(DH\&%]'B3"&QH;&],WG"1I8,U>;`[54],%-LVFGMX8V#W"B:# M)!FZ@V'WLCQ/\&R!;F,_$BK%#IMZ8^#4!1R>-'.Q"8'=[.N<3<20?`0MTHE\ M@'L1]>A4>Y=3P9S.'U&0)SC#*+WPPQ#-SM==4V+)C^R-#8E8V>=VLVAHP`J< MH,2=K&IC0_Q06LN-!$!#0RZNT@POJ>9BFPY@-WW6:XC7QQL;%R-SS$LI%-"9 M3,R/P!@;HNEIO6P/P!B:T>2>["V4O(N=@):!7%/RG0LR)YQ=^T$1.,M:L0I# M>&-#W$J$"U@15(\I3+IPEW&>K'`51H&+/"*=!&*=Y@C@ASZW&&6*@I?,;J5%5I(MV(RAZR$=N*>.FJR)!5[2X M13ZY8U_G&1'?*IBUJD2=7N;H(D\H(3E,51O(@GSEK8$Y80B01'T3/;W%?T=^ MPEOORF-9D-^\"S9HY?^I)81\%>F3D>UHIF3$TRHE=71NV!RDL5_'>:)-3+:# MF1+5KE-*ZN"@S12G%A+\JF\OV0X&'1G?BY#4P$%;.TXJ)$\O*$'^/..ZH2F/ M!1U@KU]$]K#U9TDQ4$*ZRX4IT?;ZI$%G3=`LSOS0/$6> M+<[PHF#%!=DT!$$6QXTMT>WH`S; M4K^D_QV_H3`49-;8:P6L\&DF:\.&>C1KN[?4KF9B0W0PZF9B'24<3+(3/R#J MF+E"48KND()9>+^?>5J4HYP%LCB<,/K>QFFZ>P&O+_VEOT#I8YPO7C*6+YQT M7^ATABK1OHG( MC^C)_P;F*[R=@9(E@=-KL!M(+@(^#;\/*\&6!I,\>XD3+-2&-7>PQ%K`G+QK M3!2JNEA=@"T&;`;),A3<:J"'I00&2C,<7,1YE"7L>M+<]L"6!QYSFMG)0F$W M+X>RT;9:#^Y05@KQ+?^>O]?./'=5IFW@<-ZZUAFY9)MPE1\-=_GA+O_]W.6' M"#Y+&5<%GFUEN#)+G*,(S7$FXU*`Z'U00#\,M$D M`VQPVHR!A]$/IU3\5/-L?QF0',&B@#EY1&XL_PW>ZN!3WP;D!@#VQ5+@*E\L MA"B=N"5LT.X=@>U%0V888.>5`Q2-#\K&X,S6HYDBNM/ M>W'A(.M^+[=@P[F*Z(U^UOH4:Q['/!>CMMO($2[H8!%&0(]P-Y2N$J$^D@6: M^O;(N@>0&+P+W,7TM9\'&2:7_^H^]@7Y(4M.H;@_30ID1< MM]\K5*!")\$3;1_[E_)]G.I/(&UCFQ?&+=ABNF&U.TW>L4KP;%`)#BK!024X MJ`0-9]Q%O%R1;9Q6TIT?*1#D\F>*^UNDPI/%XY0#PQ8@W<2JWU7'^0/A6/** MZ,5N$@1)3N]X]%\"KWHR8*YZ1=LSCX M^A>9O+_-QBW]:>*Z$U]'MX?CY-^#GP)(?P1K`:U;XW!@YL M1U5?.]>RFXC0*R]JP:E(2N,`W@A6.]JWG#!!0RO,3K:C,!0Z2EJU/C_GC6"U MLJ??J5J1R&7-VH[O'&\D1E9'_J2%1%V M=[5Q[61EKZ,W-B,'1%_"<036,35=S;M'32'7T-$;VY,>0HP$^F4D5IC4)OXY MCF=O.`PGRSC)\+\*RDNH300C>&-87:H$D_AJ$@E\P$'.2ER^1&1.`6[!W7I/ M;VR,&K0S5P]Q0:N^E-C9?K'N"[$Q&L[.[#S$!;T']Y2`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`RW:'39?8H+I+H-Z+RT5+OCP<4TB0*U+ME_43VTY2TH(43)*PY0RB<_IPNP+X8T0_@0M!F\-/'H2_(YGLT3M.;SY:`9L).# M-"^.IZW-0*6)_G^1M\A%[*?9$Z;*";E5PNT$[+,@S1L1"&T6'6TKY2*.OXJ6 MR:X-L,E?88WLS5F;"<5.;VM8+IL@U:K&I2>U.G\+A(+L3M+&\ MF47-[.2C<,(GJV['+6.M/PU@3WB,%G8%]KVK<)K*3#0;I6ZGL1!3":P MGLXO<8*"K%"CVA;=@JO&4"<,,MJKRBX6AQC43Y:P^;0MN75;C8-'?H M9$R,.^E=3F]MU49R$8F'^%]H=ATGM['/3"@N[@EM&)9AF0*4'EV#&FTP M[^E$G_T4D?_X_U!+`P04````"``Q:WM"D('@RX\5``#K!`$`$0`<`&)O;F4M M,C`Q,C$R,S$N>'-D550)``.-*U-1C2M3475X"P`!!"4.```$.0$``.U=[6_; M.-+_?L#]#[I\>>X!UDWM)-W6V.XAK[T`21TD:7<7AP<'1J)MHK+D):4DWK_^ M&5*218DC68KMEJ[ZI77$&9+S&[[,#-]^^=?SS'<>*1 M"R;O]S[=7_3>[OWKU[__[9=_]'J_G]Q>.6>A&\]H$#G70#-FU'.>6#1USO_J MG7LL"KGS.#5Z]BL+N0X+A1QEA;P='KX>'ATY MQULNY.WP];OM%G(T/.@/#X^V"Q<4\O-P\'K;A1SU)5Q;+>3-<'`(NM]N(3\/ M^_WAT>'6"SF237C;A;P;]@?;+F0`37C+BH="CH;P8]N%O!T.?MYZ(>^&1UN' M"X:5@[=;+V0P/-AZ$SYX\Q7ZR6%_V-_0I'4?4Z&7\B8K!7K)`(:6S4PH=:4< MRCZ_+$6X4SHC3D3XA$8?R8R*.7'I^[UI%,V'^_M/3T^O'H@;4D M?DV^OU]!QGJFK(:8!2(B@9M7PJAT*F+_W;MW^RHU(PWHA$34J\S\W3X/?;J? MDF5A-")DON<9$/"B.-$'!W7O=[RT!'[IA'$1\441&4/?5)'S<3Q,QMIAS ML""K^-)4A-&C#.>!!(2*0BPEF2-(0I(,P5.(]*DBS](HM@ M+LX`"0@Y*"!:S*E`5:-2D&J):,XK"H$4I!2/SCEU5S0<&`]4VQE#/^S1Y[E/ M`@(F_>("_EX"$@9!/,,S\2*^+VN\#T0]H(*^["[Y5C.E#'+D(4$01B2"D>O7 M7\A\SH)Q*#_+?C"45;P'!D?^^'1[63V$*&&R(?(X\,Z#B$6+2\B,SU3F>PX# M/&HIEL5Z=,P"IJH$PX[3R\=>[2=DX21Y.%HFO^R7<\@RC07U1L&OZC MBD..)2E72H)QY!DVHW>)[\9^=0'[!7Q?"OAI&(C09YYL;"?$E\/I,4U<-!<`\Y_ M"AG^7W6J;*0+5-#AFCBLTT2>DQ..G3RO'SJ0V)Y.23"AXC*X MBT+WRS3T/;",S_^,8:@&"Y6Y+*K730-^7&='S766EN&PP-%+^1\G*U?&36/I%GB7X&`'X$LN!P3]`PI>_W49/(VE6^#=\!"LN6@A'51H/W,Y M'WVDJ<%2E8B#VB^#FK&K@7*9P4\.9-$MD"]!AF#"'GQZ+,326S6^XK`.S+:: M\3D)8[?`A*F5Q]2[8N2!^5"[K-D^?<#,T_X'`:OD_"XBB>;J%W/IO[X8+2$QI`_:(; MGV01330%Q]/PB3)>)V5V%'>WD+V+Y_-DR9SX.3AY[,I8LVK#@.IA8+A7>I9Z MBA[WZNZJUBWU94#PAH"O=`\3E0"*/*)?F8IC;WAA*;^C,G#T'+J%\EW\(.B? M,8AR+GU]D37VTE<<5<,)R_F[LF#OPE]I_G@VC;\T8UH.RFR8[K60LFZZLS/N"8,'U9C["BB6GQ91]3\ MC"-J>+0:8T<1K8A-Z^C6D^!(&QYN31"[H\B7X];%!HVFX5@C[F\ILMU1A,U0 M=G$8KDC%4486"HUP=T=QUJ/<.L+(=Q3;`\/1+<;`.PHK'O#6`:ZEP*$V_-JJ MP'A'0<]BW#K,I6\XL(9KFW%U%,B:J+B.[6HR'&[#*:T-H7=4!UKHO&A=E#_C M&!NNH!Y7[RBD+:*ZA9&Z-1NN$G-=LV5(N*-J6R=<E[4*%PPU7?:`\?_%!Y M6T4=;$SE!Q4J-^(&&U7YP0^5MU74X<94?HBK_-`(9VQ4Y8<_5-Y64??T.8JS M@Y8;S`]7OQ%BV:CZT[([U@B2TRQ>@D&DJQ--P15CA&CR0WM=QE9;5BS8O&B$7S!8.^?6F?@-JH"ML,(/ZQ?6NVI-F_@5 MILWJ9!QDP[=%0>[FB*MM.RB,N,AW'%PC4E38R-#-$;=BFT(!X!4T.-B&TUZ[ ME^$'^":PA8&D&2FN"L.9;J**S@XRQ3TDI9$&3T1A/T+.^1H[3+K9[LU-)"43 MNBH9!]IP'=%-)MV$6M]-4@`92\#A-1S`\CZ3'\@6G14T!<$NZNUX*TT(*U49..(VTXAU5(=].JP+><%<;C>A(<=<-; MK-Z6ULTQNA;4?@/@J\9MPY536OV7Q<&V`9T./)M-VIW#6^A[3!FY]FJR;MDO596)8+VI(BVO( M\%NKKR'[[GJ3_$?&4F_IV%'OJPTC2'Z_)QB,)O)=-O5MRNGX_9Y\J*Z7O4?W M7Q#IU?/,STADSC4OO2F-EE%("\ZR2-_=JG__#3)1NU'`9=K/*K^WOP%Y`/"V M\A1U9)4T/GEH*PVP4-\Z0:!=MQ6DU!4V*\Y^]@X;_,I?9X,$D"3DD1.@[T-6 M/7N8/"UY%;HJFQH6^5FK'H=M,ACYG!>XY(CT3@Z"_3?KU*#A M4*B5'JU;),/CXDGK4/[3[\CE3Y87J)'T66]6E_MW9XP<1<=4LI98>"[U[Q>?%R:.1>T[`?%_>Y9+1 MBAB8613+U`\\C.=9(0RR!^D<0[QT=_%MN""^M"<_AL&IFKQTH>J(=%%F0!P1 MOL"$&1-?H-(D9F.4)3TD3Y6^WW,Y]>1[C^O+*-\*C'VUF/4L]]!0:(LN$5-- MPFJ2M>7+M542T*,/FY$O?_Y0N#0@4/3Q,Q.:=%4$7[D9>M'08U`-^=;]98VR M'BF7)*/QQS"BXCZ4*Y-A\J3G-9T]4%Y47`/R1-#D5>RA%\X("[Y5A[LCOHS3 MU8A426&3%+)>']3V";/^9II--4][`+@*8DY=-F;4.U,UTD6H(;)(EJ2-"(EW MI(4!D6EI):4],Y)J/I="P(1S%LN*W*B"/A,_IBHMV[=S_DRYRX2TD(MMKR7S M]D;XS4UA%7+=30FGXJ6HU',76H2B?"$HZTO_&X>D<#P.QS!G1AX3RM'7!*PB MV(')^V-B:+`@H@!QE)H?FFQ5!#L@VPT/'YF[JGB=32;7(C3DLDS3I=DE=1;5X]626 MR73G3F%"D)YA&HU1=IMQZ3LF9WM6:V6'I@BN691D/1K?,O'EEL+T'].3Q0<: M3CB93YE+_%LZ:8;(>AE:AI-VOTYN,LC>RSS*TQ7GU'ZHA&:-/"Q#(YN>BA+E MHS:2FV4();O3KT(A3N@XY'09_K@(>?FU#GR8>Q&_92CD M)E?!,)-F66E-:R6EC8M;-94VUB`:T%JT%/$I@"1/+32:*T)8HD5UOZ4B@J$D M!"4:54?2+*IY.OR9HQU#M-"$V"+96C@BAJ@OX+5( M$X_.8#@V'9+5I!:U8J`2(C4!P-P&*$?\_-FEU!.C@%Y#_I"5(6(KKMV0]OXI M?(&T)I=%TB*+/7D_2[9O9,9MTB]'7/XO"U4["X^%8).@L.5NLE%+:;,>@97,.]`$="W>3Z%93T/?$\G,53%"F&2Z MG)D>OV%`/ET(O6`!$U/J?0A#3QY]<8WS,:M)MZ;!#7K\J0SIR1Z8CW,!/E)4 MW$I2^\6]#?4>.!J/H25R:H9_:\DLFL*NF>>2N7S%$`8.-PQ@Y/#IXH0$YOF2 MU:06R;5:G%V0(J_<:'Q"_8DT=`U!ZHALD@5^QIQ>4;GS>@+-Z(H2F-(F?5.@ M590[(-6@L50#"Z5*NKJ,@,G8#V-7OMMBB&C,9Y'$I2TP2A208<39A M@9K.+RBR":4%CT56Q0VG\T0Y-S1([L`P%VJJ:2R21.)_"2V#JUM*3D+.PR>P M\4[)G+@L6AS/2B=K&]+O2&O-)S;!SLFL[&.1^?RB&")B, M/A/.U,DV$M%*&!KQKK>]8PG'IN6^)C#80J,UHI+U9!;M\4AGC^S,6NUV%93( M(EDDX.!)JKY5'G60M%U8&%!+M"?EM[^.Y;;+B:([6>0DZ6Q__$2X-THV\8_B M2#9]Z73_1N6Z/O6.'RDG$ZJN4SF#SG5!&"\O*7S=8@N=6^7[K7KWB^5>WG+Q MM0%_8<%K0K[1>.Q+13^5GUF)KSFNMROV.X![V7BT@W$ER:55Y,*?\M'E34#=NDBKUKB53,9CI9K8 M8D43^Z3N?:;9GV5$-YKUFIO<;&B@V<:?S-40Z@J*^RD)4BG32-!GD'RY\6\C MAL?+"K:OL6Y'>/+\C5!'"[8*]?34F#9UI_MOU:XU\WA9):%%>U2KJHK=G=>` M=BM*_3T:?PH\ROV%C$7G-^6:&+3/83=0D,?`+SBE^J&[9M+CG.N%;+^2T!7& M>V,.&R?6NEJ?L4?FT<#[@U$?&;M;L.Z4>C^'\GDDN?^Y>:NNXK5.<.1FDN8G M]6T\K9Y6-IM+Q&5@&-#5)!89&?+V^'^'/LP)YMHNDF:3!NXO+UA``A>F,K,M M(8D6U5VMHZ2S'R+05Q%8)$.^H?KQH6:W=9YH4=WETF=UXT%3+:K]"0^_ M4%XZ(:U_;+;>^75/0"?U,TXX%S];![+1-HJ?+:KO\KZ)I9V0WQ.FU;^>;!>6 MF_,+4I8U3\\2@GMWJHJY(&[Y&HA67-;LY#CUB1#+"H^X.O:N8A7)!;9%CZ`1 MM57>@.:"FD>_+T)>-J&,MSW:L%ID=7T*."4^^XMZ'V#(&`5I91>([5NX4*P% MURYT9;3!FMIGI]W%&9G![";NPAA:21+5UAV*!L06#9!F5:$SL%EQ`J@B MV86A;WDYZ2UUPT`:'JK$TZE<74-OL6I&OE-B:]>GROL> MGB#OXUG((_97VLHQX5 MA%R>JM:7KQL0?].0Q[YPIW1&?OW[W_X?4$L!`AX#%`````@`,6M[0J6%Z&`H M[```EPX+`!$`&````````0```*2!`````&)O;F4M,C`Q,C$R,S$N>&UL550% M``.-*U-1=7@+``$$)0X```0Y`0``4$L!`AX#%`````@`,6M[0CN1M6O"$@`` MZBD!`!4`&````````0```*2!<^P``&)O;F4M,C`Q,C$R,S%?8V%L+GAM;%54 M!0`#C2M3475X"P`!!"4.```$.0$``%!+`0(>`Q0````(`#%K>T+VN-]R`4(` M`.C:!``5`!@```````$```"D@83_``!B;VYE+3(P,3(Q,C,Q7V1E9BYX;6Q5 M5`4``XTK4U%U>`L``00E#@``!#D!``!02P$"'@,4````"``Q:WM";3UK2X.% M``!:%@@`%0`8```````!````I('400$`8F]N92TR,#$R,3(S,5]L86(N>&UL M550%``.-*U-1=7@+``$$)0X```0Y`0``4$L!`AX#%`````@`,6M[0KWN(288 M40``OTL&`!4`&````````0```*2!IL`Q0````(`#%K>T*0@>#+ MCQ4``.L$`0`1`!@```````$```"D@0T9`@!B;VYE+3(P,3(Q,C,Q+GAS9%54 L!0`#C2M3475X"P`!!"4.```$.0$``%!+!08`````!@`&`!H"``#G+@(````` ` end XML 38 R56.htm IDEA: XBRL DOCUMENT v2.4.0.6
Stock-Based Compensation (Details) (USD $)
 12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Outstanding at January 1, Shares 4,828,910 3,850,743
Granted, Shares 1,716,250 2,261,750
Exercised, Shares (39,375) (775,833)
Cancelled or expired, Shares (1,239,250) (507,750)
Outstanding at December 31, Shares 5,266,535 4,828,910
Exercisable at December 31, Shares 2,565,301 2,194,593
Outstanding at January 1, Weighted Average Exercise Price $ 2.14 $ 1.38
Granted,Weighted Average Exercise Price $ 1.79 $ 2.90
Exercised,Weighted Average Exercise Price $ 0.87 $ 1.31
Cancelled or expired,Weighted Average Exercise Price $ 2.17 $ 2.42
Outstanding at December 31,Weighted Average Exercise Price $ 2.02 $ 2.14
Exercisable at December 31,Weighted Average Exercise Price $ 1.83 $ 1.63
Outstanding at January 1, Weighted Average Fair Value at Grant Date $ 1.01 $ 0.84
Granted,Weighted Average Fair Value at Grant Date $ 1.03 $ 1.39
Exercised, Weighted Average Fair Value at Grant Date $ 0.37 $ 0.66
Cancelled or expired,Weighted Average Fair Value at Grant Date $ 0.39 $ 1.23
Outstanding at December 31, Weighted Average Fair Value at Grant Date $ 1.03 $ 1.01
Exercisable at December 31, Weighted Average Fair Value at Grant Date $ 0.80 $ 0.67

XML 39 R44.htm IDEA: XBRL DOCUMENT v2.4.0.6
Acquisition (Details 1) (USD $)
Dec. 31, 2012
Dec. 31, 2011
Stock issued $ 1,000,000 $ 1,000,000
Contingent consideration 450,166  
Total consideration $ 1,450,166  
XML 40 R30.htm IDEA: XBRL DOCUMENT v2.4.0.6
Long-term Debt (Tables)
 12 Months Ended
Dec. 31, 2012
Debt Disclosure [Abstract]  
Schedule of Debt [Table Text Block]

Long-term debt consists of the following:

 

  December 31,
2012		  December 31,  
 2011		 
Loan payable to ROS Acquisition Offshore, LIBOR plus 12.13% maturing August 2019 $20,000,000  $- 
Loan payable to MidCap, LIBOR plus 7.5% maturing January 2015  -   4,666,667 
Loan payable to SVB, LIBOR plus 7.5% maturing January 2015  -   2,333,333 
6.00% loan payable to Valley Bank of Belgrade, $10,746 monthly payments including interest, maturing December 24, 2030; secured by building  1,421,420   1,464,183 
   21,421,420   8,464,183 
         
Less: Current portion  (45,135)  (1,632,978)
Debt discount  (6,893,183)  (192,935)
Long-term debt $14,483,102  $6,638,270 
Schedule of Maturities of Long-term Debt [Table Text Block]

The following is a summary of maturities due on the debt as of December 31, 2012:

 

2013     45,135  
2014     47,919  
2015     50,875  
2016     1,720,679  
2017     6,724,041  
Thereafter     12,832,771  
Total   $ 21,421,420

 
Schedule Of Royalty Payments [Table Text Block]

The following is a summary of estimated future royalty payments as of December 31, 2012:

 

2013     788,000  
2014     853,000  
2015     1,050,000  
2016     1,289,000  
2017     1,384,000  
Thereafter     8,477,000  
Total   $ 13,841,000  

 
XML 41 R31.htm IDEA: XBRL DOCUMENT v2.4.0.6
Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2012
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract]  
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

Activity under our stock option plans was as follows:

 

    2012     2011  
    Shares     Weighted
Average
Exercise Price		     Weighted
Average Fair
Value at Grant
Date		     Shares     Weighted
Average
Exercise Price		     Weighted
Average Fair
Value at Grant
Date		  
Outstanding at January 1     4,828,910     $ 2.14     $ 1.01       3,850,743     $ 1.38     $ 0.84  
Granted     1,716,250       1.79       1.03       2,261,750       2.90       1.39  
Exercised     (39,375 )     0.87       0.37       (775,833 )     1.31       0.66  
Cancelled or expired     (1,239,250 )     2.17       0.39       (507,750 )     2.42       1.23  
Outstanding at December 31     5,266,535     $ 2.02     $ 1.03       4,828,910     $ 2.14     $ 1.01  
Exercisable at December 31     2,565,301     $ 1.83     $ 0.80       2,194,593     $ 1.63     $ 0.67

 
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block]

The following table summarizes restricted stock award activity during the year ended December 31, 2012:

 

  Shares 
Outstanding at Jan. 1, 2012  1,632,900 
Awarded  151,000 
Cancelled  (677,500)
Vested  (372,500)
Outstanding at December 31, 2012  733,900 
XML 42 R8.htm IDEA: XBRL DOCUMENT v2.4.0.6
Equity
 12 Months Ended
Dec. 31, 2012
Equity [Abstract]  
Stockholders Equity Note Disclosure [Text Block]

(2) Equity

 

On May 27, 2011, we entered into a Purchase Agreement and Registration Rights Agreement with Lincoln Park Capital Fund, LLC (“LPC”) whereby LPC agreed to purchase up to $31 million of our common stock from time to time pursuant to the terms of the Purchase Agreement and we agreed to register the shares purchased by LPC. Upon signing the Purchase Agreement, LPC purchased 326,798 shares of our common stock for $1,000,002 and also received warrants to purchase 130,719 shares at an exercise price of $3.06 per share, the closing price on May 26, 2011. This was part of a private placement transaction pursuant to Rule 506 of Regulation D in the second quarter of 2011 in which we raised a total of $3,027,504 and issued 939,377 shares of our common stock and warrants to purchase 375,747 shares of our common stock.

 

During the first quarter of 2012, we issued 1,475,037 shares of our common stock to LPC for aggregate proceeds of $3,899,996. We used the proceeds for working capital and general corporate purposes.

 

The Purchase Agreement allowed us to require LPC to purchase up to $30 million of our common stock from time to time, and also allowed us to terminate the Purchase Agreement for any reason or for no reason with one business day's notice to LPC. On May 3, 2012, we terminated the LPC Purchase Agreement.
XML 43 R32.htm IDEA: XBRL DOCUMENT v2.4.0.6
Warrants (Tables)
 12 Months Ended
Dec. 31, 2012
Other Equity Transactions [Abstract]  
Schedule Of Warrant Activity [Table Text Block]

The following table summarizes our warrant activities for the period ended December 31, 2012:

 

          Weighted  
          Average  
          Exercise  
    Shares     Price  
Outstanding at January 1, 2012     6,967,529     $ 2.22  
Issued     598,886       1.66  
Exercised     (244,748 )     1.58  
Outstanding at December 31, 2012     7,321,667     $ 2.2

 
Schedule Of Warrant Valuation Assumptions [Table Text Block]

The estimated fair value was derived using the lattice model with the following weighted-average assumptions:

 

  Year ended 
  December 31, 
  2012  2011 
Value of underlying common stock (per share) $1.25  $1.56 
Risk free interest rate  0.24%  0.32%
Expected term  3.83 years   4.67 years 
Dividend yield  0   0 
Volatility  72%  69%
Schedule Of Warrants Activities Used In Derivative Liability [Table Text Block]

The following table summarizes our activities related to number of warrants used in the derivative liability for the period ended December 31, 2012 and 2011:

 

    2012     2011  
Balance at January 1     1,506,007       1,595,473  
Derivative warrants issued     143,700       133,474  
Derivative warrants exercised     -       (222,940 )
Balance at December 31     1,649,707       1,506,007
XML 44 R40.htm IDEA: XBRL DOCUMENT v2.4.0.6
Business Description and Summary of Significant Accounting Policies (Details 4) (USD $)
 12 Months Ended
Dec. 31, 2012
Warrant Derivative Liabilities [Member]
  
Balance at January 1, 2012 $ 2,344,516
Gain recognized in earnings (1,360,160)
Balance at December 31, 2012 984,356
Acquisition Contingent Consideration Liability [Member]
  
Balance at January 1, 2012 450,166
Gain recognized in earnings (358,426)
Balance at December 31, 2012 $ 91,740
XML 45 R53.htm IDEA: XBRL DOCUMENT v2.4.0.6
Long-term Debt (Details 1) (USD $)
Dec. 31, 2012
2013 $ 45,135
2014 47,919
2015 50,875
2016 1,720,679
2017 6,724,041
Thereafter 12,832,771
Total $ 21,421,420
XML 46 R72.htm IDEA: XBRL DOCUMENT v2.4.0.6
Related Party Transactions (Details Textual) (USD $)
 12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Accounts payable - related party $ 418,922 $ 513,193
American Donor Services [Member]
    
Accounts payable - related party 418,922  
Recovery of Direct Costs 1,472,949 1,765,908
Mr Godfrey [Member]
    
Servicing Fees, Net 5,000  
West Coast Tissue Services [Member]
    
Recovery of Direct Costs $ 525,900 $ 510,500
Mr Cook [Member]
    
Number Of Stock Collatoralized For Loan 1,850,000  
XML 47 R2.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Balance Sheets (USD $)
Dec. 31, 2012
Dec. 31, 2011
ASSETS    
Cash and cash equivalents $ 4,926,066 $ 751,111
Trade accounts receivable, net of allowance for doubtful accounts of $1,576,955 and $1,232,806, respectively 7,154,065 7,083,354
Inventories, net 13,141,421 8,479,710
Prepaid and other current assets 353,271 289,326
Total current assets 25,574,823 16,603,501
Non-current Assets:    
Non-current inventories 1,238,225 920,542
Property and equipment, net 5,234,867 3,774,140
Intangible assets, net 592,378 656,133
Goodwill 728,618 728,618
Other assets 1,126,643 486,914
Total Assets 34,495,554 23,169,848
LIABILITIES & STOCKHOLDERS' EQUITY    
Accounts payable 3,997,789 2,654,263
Accounts payable - related party 418,922 513,193
Accrued liabilities 2,400,090 3,762,211
Warrant derivative liability 984,356 2,344,516
Current portion of capital lease obligations 149,729 33,791
Current portion of royalty liability 698,408 0
Current portion of long-term debt 45,135 1,632,978
Total current liabilities 8,694,429 10,940,952
Long-term Liabilities:    
Capital lease obligation, less current portion 245,703 89,580
Long term royalty liability, less current portion 6,839,935 0
Long-term debt, less current portion 14,483,102 6,638,270
Total Liabilities 30,263,169 17,668,802
Commitments and Contingencies      
Stockholders' Equity    
Preferred stock, $.000001 par value; 5,000,000 shares authorized; no shares issued and outstanding 0 0
Common stock, $.000001 par value; 95,000,000 shares authorized; 42,877,770 shares issued and outstanding as of December 31, 2012 and 40,841,218 shares issued and outstanding as of December 31, 2011 43 40
Additional paid-in capital 51,897,890 45,452,732
Accumulated deficit (47,665,548) (39,951,726)
Total Stockholders' Equity 4,232,385 5,501,046
Total Liabilities & Stockholders' Equity $ 34,495,554 $ 23,169,848
XML 48 R45.htm IDEA: XBRL DOCUMENT v2.4.0.6
Acquisition (Details 2) (USD $)
Dec. 31, 2011
Dec. 31, 2012
Customer Lists and Trademarks [Member]
2013 $ 74,918 $ 35,392
2014 74,918 35,392
2015 74,918 35,392
2016 74,918 26,229
2017 74,918 3,976
Thereafter 217,788 27,252
Total $ 592,378 $ 163,633
XML 49 R6.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Cash Flows (USD $)
 12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Operating activities:    
Net loss $ (7,713,822) $ (3,006,469)
Noncash adjustments:    
Depreciation and amortization 782,889 755,387
Amortization of debt discount 502,044 302,465
Write-off of debt discount 705,885 1,307,977
Write-off of accounts receivable-related party 0 795,000
Non-cash consulting expense/stock option expense 1,554,657 2,555,727
Warrants issued for services 342,485 0
Non-cash interest 196,823 0
Provision for losses on accounts receivable and inventory 636,704 1,425,537
Loss on disposal of assets 7,902 0
Change in derivative warrant liability (1,360,160) (6,377,671)
Reduction of contingent liability (358,426) 0
Changes in operating assets and liabilities:    
Accounts receivable (414,860) (4,636,860)
Accounts receivable - related party 0 (181,966)
Inventories (5,271,950) (2,365,403)
Prepaid and other current assets (1,049,458) (190,550)
Accounts payable 1,249,255 334,183
Accrued liabilities (602,300) 1,920,505
Net cash used in operating activities (10,792,332) (7,362,138)
Investing activities:    
Purchases of property and equipment (1,825,614) (962,306)
Notes receivable from stockholder 0 82,398
Intangible asset additions (11,163) (137,411)
Net cash used in investing activities (1,836,777) (1,017,319)
Financing activities:    
Proceeds from the issuance of long-term debt 22,741,719 9,579,687
Payments on long-term debt (9,784,482) (5,115,504)
Payments on capital leases (78,925) (36,182)
Proceeds from issuance of stock 3,879,749 2,974,618
Proceeds from exercise of options 46,003 1,010,563
Proceeds from exercise of warrants 0 389,905
Net cash provided by financing activities 16,804,064 8,803,087
Net change in cash and cash equivalents 4,174,955 423,630
Cash and cash equivalents at beginning of period 751,111 327,481
Cash and cash equivalents at end of period $ 4,926,066 $ 751,111
XML 50 R59.htm IDEA: XBRL DOCUMENT v2.4.0.6
Warrants (Details) (USD $)
 12 Months Ended
Dec. 31, 2012
Jul. 23, 2012
Outstanding at January 1, Shares 6,967,529  
Issued, Shares 598,886  
Exercised, Shares (244,748)  
Balance at December 31, Shares 7,321,667  
Outstanding at January 1, 2012, Weighted Average Exercise Price (in dollars per share) $ 2.22 $ 1.03
Issued, Weighted Average Exercise Price (in dollars per share) $ 1.66  
Exercised, Weighted Average Exercise Price (in dollars per share) $ 1.58  
Outstanding at December 31, 2012, Weighted Average Exercise Price (in dollars per share) $ 2.2 $ 1.03
XML 51 R35.htm IDEA: XBRL DOCUMENT v2.4.0.6
Supplemental Disclosure of Cash Flow Information (Tables)
 12 Months Ended
Dec. 31, 2012
Supplemental Cash Flow Elements [Abstract]  
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]

Supplemental cash flow information is as follows:

 

    Year ended  
    December 31,  
    2012     2011  
Supplemental disclosure of cash flow information                
Cash paid during the period for:                
Interest   $ 1,873,155     $ 1,039,703  
Income taxes     -       -  
Non-cash activities:                
Non-cash consulting expense   $ 401,395     $ 1,675,008  
Acquisition contingent consideration   $ -     $ 450,166  
Warrants issued with debt   $ 220,872     $ 227,388  
Issuance of stock for business acquisition   $ -     $ 1,000,000  
Conversion of accounts payable into common stock   $ -     $ 600,000  
Decrease in warrant derivative liability due to warrant exercises   $ -     $ 968,554  
Capital lease acquisition   $ 350,986     $ 116,263  
Issuance of warrants   $ 220,872     $ -  
Debt discount related to financing   $ 7,341,520     $ -  
Royalty liability related to financing   $ 7,341,520     $ -  
XML 52 R65.htm IDEA: XBRL DOCUMENT v2.4.0.6
Income Taxes (Details) (USD $)
 12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Net Income $ (7,713,822) $ (3,006,469)
Domestic Tax Authority [Member]
    
Net Income $ (7,713,822) $ (3,006,469)
XML 53 R22.htm IDEA: XBRL DOCUMENT v2.4.0.6
Subsequent Events
 12 Months Ended
Dec. 31, 2012
Subsequent Events [Abstract]  
Subsequent Events [Text Block]
(16) Subsequent Events

 

On January 29, 2013, we received two warning letters from the Food and Drug Administration (“FDA”) related to our procedures to ensure compliance with regulatory requirements.  The concerns included (i) procedures for implementing corrective and preventative action; (ii) procedures for receiving, reviewing and evaluating complaints; (iii) procedures related to changes to a specification, method, process or procedure; (iv) procedures to ensure that purchased or otherwise received products or services conform to specified requirements; (v) procedures to control documents; (vi) procedures to identify training needs and to ensure all personnel are trained to adequately perform assigned responsibilities; (vii) procedures related to medical device reporting; (viii) procedures to control product that does not conform to specified requirements; (ix) procedures for finished device acceptance; and (x) marketing materials related to our Elutia wound drain.  The company has responded to the warning letters and is committed to actively working with the FDA to address their concerns. 

 

On February 11, 2013, we received a subpoena from the Office of the Inspector General of the U.S. Department of Health and Human Services (“OIG”) in connection with an investigation into possible false or otherwise improper claims submitted to Medicare. The subpoena requests documents related to physician referral programs operated by the Company, which we believe refers to the Company’s prior practice of compensating physicians for performing certain educational and promotional services on behalf of the Company. This program was discontinued in 2010 and involved payments to only a small number of physicians that we believe were made in accordance with all applicable laws. We intend to cooperate with the OIG’s investigation.
XML 54 R36.htm IDEA: XBRL DOCUMENT v2.4.0.6
Business Description and Summary of Significant Accounting Policies (Details) (USD $)
 12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Total Revenues $ 32,979,899 $ 30,149,482
United States [Member]
    
Total Revenues 31,947,757 29,571,446
Rest Of World [Member]
    
Total Revenues $ 1,032,142 $ 578,036
XML 55 R24.htm IDEA: XBRL DOCUMENT v2.4.0.6
Business Description and Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2012
Organization, Consolidation and Presentation Of Financial Statements [Abstract]  
Schedule Of Concentration Of Risk Revenue By Geographical Region [Table Text Block]

Revenue by geographical region is as follows:

 

  Year ended December 31, 
  2012  2011 
United States $31,947,757  $29,571,446 
Rest of World  1,032,142   578,036 
  $32,979,899  $30,149,482
Schedule Of Accrued Stock Compensation [Table Text Block]

The following tables set forth by level, within the fair value hierarchy, our assets and liabilities as of December 31, 2012 and December 31, 2011 that are measured at fair value on a recurring basis:

 

Accrued stock compensation

 

  As of
December 31,
2012		     As of
December 31,
2011		  
Level 1     218,850       608,933  
Level 2     -       -  
Level 3   $ -     $ -
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

The following tables set forth by level, within the fair value hierarchy, our assets and liabilities as of December 31, 2012 and December 31, 2010 that are measured at fair value on a recurring basis:

 

Warrant derivative liability

 

  As of
December 31,
2012		  As of
December 31,
2011		 
Level 1  -   - 
Level 2  -   - 
Level 3 $984,356  $2,344,516 
Acquisition contingent consideration liability [Table Text Block]

Acquisition contingent consideration liability

 

  As of
December 31,
2012		  As of
December 31,
2011		 
Level 1  -   - 
Level 2  -   - 
Level 3 $91,740   450,166 
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

The following is a reconciliation of the beginning and ending balances for liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the period ending December 31, 2012:

 

Warrant derivative liability

Balance at January 1, 2012 $2,344,516 
Gain recognized in earnings  (1,360,160)
Balance at December 31, 2012 $984,356 

 

Acquisition contingent consideration liability

Balance at January 1, 2012 $450,166 
Gain recognized in earnings  (358,426)
Balance at December 31, 2012 $91,740 
XML 56 R68.htm IDEA: XBRL DOCUMENT v2.4.0.6
Income Taxes (Details 3) (USD $)
Dec. 31, 2012
Dec. 31, 2011
Deferred tax assets:    
Accrued liability for vacation $ 75,442 $ 78,972
Bad debt reserve 642,546 540,462
Charitable contributions carrforward 19,686 14,835
Inventory reserve 456,026 362,399
Restricted stock compensation 94,212 266,957
Total current deferred tax assets 1,287,912 1,263,625
Valuation Allowance (1,287,912) (1,263,625)
Net current deferred tax assets 0 0
Noncurrent deferred tax assets    
Net operating loss carryovers 11,963,305 9,673,993
Stock warrants 139,549 0
Stock option compensation 1,023,192 749,755
Total noncurrent deferred tax assets 13,126,046 10,423,748
Valuation allowance (13,172,543) (10,407,184)
Net noncurrent deferred tax assets (46,497) 16,564
Deferred tax liabilities:    
Goodwill Amortization 11,346 3,782
Depreciation 31,055 (31,037)
Amortization 26,788 18,255
Total deferred tax liabilities 46,497 (16,564)
Net deferred tax assets $ 0 $ 0
XML 57 Show.js IDEA: XBRL DOCUMENT /** * Rivet Software Inc. * * @copyright Copyright (c) 2006-2011 Rivet Software, Inc. All rights reserved. * Version 2.1.0.1 * */ var moreDialog = null; var Show = { Default:'raw', more:function( obj ){ var bClosed = false; if( moreDialog != null ) { try { bClosed = moreDialog.closed; } catch(e) { //Per article at http://support.microsoft.com/kb/244375 there is a problem with the WebBrowser control // that somtimes causes it to throw when checking the closed property on a child window that has been //closed. So if the exception occurs we assume the window is closed and move on from there. bClosed = true; } if( !bClosed ){ moreDialog.close(); } } obj = obj.parentNode.getElementsByTagName( 'pre' )[0]; var hasHtmlTag = false; var objHtml = ''; var raw = ''; //Check for raw HTML var nodes = obj.getElementsByTagName( '*' ); if( nodes.length ){ objHtml = obj.innerHTML; }else{ if( obj.innerText ){ raw = obj.innerText; }else{ raw = obj.textContent; } var matches = raw.match( /<\/?[a-zA-Z]{1}\w*[^>]*>/g ); if( matches && matches.length ){ objHtml = raw; //If there is an html node it will be 1st or 2nd, // but we can check a little further. var n = Math.min( 5, matches.length ); for( var i = 0; i < n; i++ ){ var el = matches[ i ].toString().toLowerCase(); if( el.indexOf( '= 0 ){ hasHtmlTag = true; break; } } } } if( objHtml.length ){ var html = ''; if( hasHtmlTag ){ html = objHtml; }else{ html = ''+ "\n"+''+ "\n"+' Report Preview Details'+ "\n"+' '+ "\n"+''+ "\n"+''+ objHtml + "\n"+''+ "\n"+''; } moreDialog = window.open("","More","width=700,height=650,status=0,resizable=yes,menubar=no,toolbar=no,scrollbars=yes"); moreDialog.document.write( html ); moreDialog.document.close(); if( !hasHtmlTag ){ moreDialog.document.body.style.margin = '0.5em'; } } else { //default view logic var lines = raw.split( "\n" ); var longest = 0; if( lines.length > 0 ){ for( var p = 0; p < lines.length; p++ ){ longest = Math.max( longest, lines[p].length ); } } //Decide on the default view this.Default = longest < 120 ? 'raw' : 'formatted'; //Build formatted view var text = raw.split( "\n\n" ) >= raw.split( "\r\n\r\n" ) ? raw.split( "\n\n" ) : raw.split( "\r\n\r\n" ) ; var formatted = ''; if( text.length > 0 ){ if( text.length == 1 ){ text = raw.split( "\n" ) >= raw.split( "\r\n" ) ? raw.split( "\n" ) : raw.split( "\r\n" ) ; formatted = "

"+ text.join( "

\n" ) +"

"; }else{ for( var p = 0; p < text.length; p++ ){ formatted += "

" + text[p] + "

\n"; } } }else{ formatted = '

' + raw + '

'; } html = ''+ "\n"+''+ "\n"+' Report Preview Details'+ "\n"+' '+ "\n"+''+ "\n"+''+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+'
'+ "\n"+' formatted: '+ ( this.Default == 'raw' ? 'as Filed' : 'with Text Wrapped' ) +''+ "\n"+'
'+ "\n"+' '+ "\n"+'
'+ "\n"+' '+ "\n"+'
'+ "\n"+''+ "\n"+''; moreDialog = window.open("","More","width=700,height=650,status=0,resizable=yes,menubar=no,toolbar=no,scrollbars=yes"); moreDialog.document.write(html); moreDialog.document.close(); this.toggle( moreDialog ); } moreDialog.document.title = 'Report Preview Details'; }, toggle:function( win, domLink ){ var domId = this.Default; var doc = win.document; var domEl = doc.getElementById( domId ); domEl.style.display = 'block'; this.Default = domId == 'raw' ? 'formatted' : 'raw'; if( domLink ){ domLink.innerHTML = this.Default == 'raw' ? 'with Text Wrapped' : 'as Filed'; } var domElOpposite = doc.getElementById( this.Default ); domElOpposite.style.display = 'none'; }, LastAR : null, 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; } }, 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( '-', '+' ); } } }, hideAR : function(){ Show.LastAR.style.display = 'none'; } } XML 58 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
Business Description and Summary of Significant Accounting Policies
 12 Months Ended
Dec. 31, 2012
Accounting Policies [Abstract]  
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block]

(1)           Business Description and Summary of Significant Accounting Policies

 

Business Description

 

The accompanying consolidated financial statements include the accounts of Bacterin International Holdings, Inc., a Delaware corporation, and its wholly owned subsidiary, Bacterin International, Inc., a Nevada corporation, (collectively, the “Company” or “Bacterin”). All intercompany balances and transactions have been eliminated in consolidation. Bacterin’s biologics division develops, manufactures and markets biologics products to domestic and international markets.  Bacterin’s proprietary methods are used in human allografts to create stem cell scaffolds and promote bone and other tissue growth.  These products are used in a variety of applications including enhancing fusion in spine surgery, relief of back pain with a facet joint stabilization, promotion of bone growth in foot and ankle surgery, promotion of skull healing following neurosurgery and regeneration in knee and other joint surgeries.

 

Bacterin’s device division develops bioactive coatings based upon proprietary knowledge of the phenotypical changes made by microbes as they sense and adapt to changes in their environment. Bacterin develops, employs, and licenses bioactive coatings for various medical device applications.  

 

An operating segment is a component of an enterprise whose operating results are regularly reviewed by the enterprise’s chief operating decision maker to make decisions about resources to be allocated to the segment and assess its performance. The primary performance measure used by management is net income or loss. The Company operates in two distinct lines of business consisting of the biologics and devices divisions. However, due to the immaterial revenue from devices to date, the Company reports as one segment.

 

The Company's revenue is derived principally from the sale or license of its medical products, coatings and device implants. The markets in which the Company competes are highly competitive and rapidly changing. Significant technological advances, changes in customer requirements, or the emergence of competitive products with new capabilities or technologies could adversely affect the Company's operating results. The Company's business could be harmed by a decline in demand for, or in the prices of, its products or as a result of, among other factors, any change in pricing or distribution model, increased price competition, changes in government regulations or a failure by the Company to keep up with technological change.  Further, a decline in available tissue donors could have an adverse impact on the business.

 

Presentation

 

Certain amounts in the 2011 consolidated financial statements have been reclassified to conform to the 2012 presentation.

 

Concentrations and Credit Risk

 

The Company’s accounts receivable are due from a variety of health care organizations and distributors throughout the world. Approximately 97% and 98% of sales were in the United States for 2012 and 2011, respectively. One customer accounted for approximately 5% and 6% of the Company’s revenue for 2012 and 2011, respectively.  One customer represented 22% and 21% of accounts receivable at December 31, 2012 and 2011, respectively. The Company provides for uncollectible amounts when specific credit issues arise. Management’s estimates for uncollectible amounts have been adequate during prior periods, and management believes that all significant credit risks have been identified at December 31, 2012.

 

Revenue by geographical region is as follows:

 

    Year ended
December 31,		  
    2012     2011  
United States   $ 31,947,757     $ 29,571,446  
Rest of World     1,032,142       578,036  
    $ 32,979,899     $ 30,149,482  

 

Use of Estimates

 

The preparation of the financial statements requires management of the Company to make a number of estimates and assumptions relating to the reported amount of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the period; the carrying amount of property and equipment and intangible assets; valuation allowances for trade receivables and deferred income tax assets; valuation of the warrant derivative liability; inventory reserve; contingent consideration from acquisitions; royalty liability; and estimates for the fair value of stock options grants and other equity awards upon which the Company determines stock-based compensation expense. Actual results could differ from those estimates.

 

Cash and Cash Equivalents

 

The Company considers all highly liquid investments purchased with an original maturity date of three months or less to be cash equivalents.  Cash equivalents are recorded at cost, which approximates market value. At times the Company maintains deposits in financial institutions in excess of federally insured limits.

 

Accounts Receivable

 

Accounts receivable represents amounts due from customers for which revenue has been recognized. Normal terms on trade accounts receivable are net 30 days and some customers are offered discounts for early pay.   The Company performs credit evaluations when considered necessary, but generally does not require collateral to extend credit.

 

The allowance for doubtful accounts is the Company's best estimate of the amount of probable credit losses in the Company's existing receivables. The Company determines the allowance based on factors such as historical collection experience, customer's current creditworthiness, customer concentration, age of accounts receivable balance, general economic conditions that may affect a customer's ability to pay and management judgment. Actual customer collections could differ from estimates. Account balances are charged to the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. Provisions to the allowance for doubtful accounts are charged to expense. The Company does not have any off-balance sheet credit exposure related to its customers.

 

Accounts Payable - Related Party

 

Accounts payable to a related party included amounts due to American Donor Services, a supplier of donors to the Company. See Note 15, “Related Party Transactions” below.

 

Inventories

Inventories are stated at the lower of cost or market.  Cost is determined using the specific identification method and includes materials, labor and overhead. The Company calculates an inventory reserve for estimated obsolescence or excess inventory based on historical usage and sales, as well as assumptions about future demand for its products. These estimates for excess and obsolete inventory are reviewed and updated on a quarterly basis. Increases in the inventory reserves result in a corresponding expense, which is generally recorded to cost of tissue and medical devices sales. Inventories where the sales cycle is estimated to be beyond twelve months are classified as Non-current inventories.

 

Property and Equipment

 

Property and equipment are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, generally three to seven years for computers and equipment, and 30 years for buildings. Leasehold improvements are depreciated over the shorter of their estimated useful life or the remaining term of the lease. Repairs and maintenance are expensed as incurred.

 

Goodwill

 

Goodwill represents the excess of costs over fair value of assets of businesses acquired. Goodwill and intangible assets acquired in a purchase business combination and determined to have indefinite useful lives are not amortized, instead are tested for impairment at least annually and whenever events or circumstances indicate the carrying amount of the asset may not be recoverable. In its evaluation of goodwill, the Company performs an assessment of qualitative factors to determine if it is more-likely-than-not that goodwill might be impaired and whether it is necessary to perform the two-step goodwill impairment. The Company conducts its annual impairment test on December 31 of each year. See Note 3, “Goodwill” below.

 

Derivative Instruments

 

The Company accounts for its derivative instruments in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 815 “Accounting for Derivative Instruments and Hedging Activities”. The only derivative instruments presented in the accompanying consolidated financial statements relates to warrants issued in connection with certain debt financings. The Company has not designated its warrant derivative liability as a hedging instrument as described in ASC 815 and any changes in the fair market value of the warrant derivative liability is recognized in the consolidated statement of operations during the period of change. See Note 10, “Warrants” below.

 

Intangible Assets

 

Intangible assets with estimable useful lives must be amortized over their respective estimated useful lives to their estimated residual values, and reviewed for impairment whenever events or circumstances indicate their carrying amount may not be recoverable. Intangible assets include trademarks, customer lists and patents and include costs to acquire and protect Company patents. Intangible assets are carried at cost less accumulated amortization. The Company amortizes these assets on a straight-line basis over their estimated useful lives of five years for customer lists and 15 years for all other intangible assets.

 

Revenue Recognition

 

Revenue is recognized when all of the following criteria are met: a) the Company has entered into a legally binding agreement with the customer; b) the products or services have been delivered; c) the Company's fee for providing the products and services is fixed or determinable; and d) collection of the Company’s fee is probable.

 

The Company’s policy is to record revenue net of any applicable sales, use, or excise taxes.  If an arrangement includes a right of acceptance or a right to cancel, revenue is recognized when acceptance is received or the right to cancel has expired.

 

The Company ships to certain customers under consignment arrangements whereby the Company’s product is stored by the customer.  The customer is required to report the use to the Company and upon such notice, the Company invoices the customer and revenue is recognized when above criteria has been met.

 

The Company also receives royalty revenue from third parties related to licensing agreements. The Company has royalty agreements with Nufix, RyMed and Bard Access Systems. Revenue under these agreements represented less than 1% of total revenue for 2012 and 2011.

 

Non-Cash Consulting Expense

 

From time to time, the Company issues restricted stock awards to consultants and advisors to the Company. These awards are measured at fair value at each reporting date, recognized ratably over the vesting period and are recorded in non-cash consulting expense.

 

Advertising Costs

 

The Company expenses advertising costs as incurred. Advertising costs of approximately $51,000 and $81,000 were expensed for the years ended December 31, 2012 and 2011, respectively.

 

Research and Development

 

Research and development costs, which are principally related to internal costs for the development of new technologies and processes for tissue and coatings, are expensed as incurred.

  

Income Taxes

 

The Company accounts for income taxes under the asset and liability method of accounting for deferred taxes as prescribed under FASB ASC 740, Accounting for Income Taxes.  Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. When applicable, a valuation allowance is established to reduce any deferred tax asset when it is determined that it is more likely than not that some portion of the deferred tax asset will not be realized. ASC 740 also requires reporting of taxes based on tax positions that meet a more-likely-than-not standard and that are measured at the amount that is more-likely-than-not to be realized. Differences between financial and tax reporting which do not meet this threshold are required to be recorded as unrecognized tax benefits. ASC 740 also provides guidance on the presentation of tax matters and the recognition of potential IRS interest and penalties. The Company classifies penalty and interest expense related to income tax liabilities as an income tax expense. There are no significant interest and penalties recognized in the statement of operations or accrued on the balance sheet. See Note 12, “Income Taxes” below.

 

Long-Lived Assets

 

Long-lived assets, including intangible assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to future net cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the estimated fair value of the assets. No impairment was recorded during the years ended December 31, 2012 or 2011.

 

Net Loss Per Share

 

Basic net income (loss) per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding. Shares issued during the period and shares reacquired during the period are weighted for the portion of the period that they were outstanding. Diluted net income (loss) per share is computed in a manner consistent with that of basic earnings per share while giving effect to all potentially dilutive common shares outstanding during the period, which include the assumed exercise of stock options and warrants using the treasury stock method.  Diluted net loss per share was the same as basic net loss per share for the years ended December 31, 2012 and 2011 as shares issuable upon the exercise of stock options and warrants were anti-dilutive as a result of the net losses incurred for those periods.

 

Dilutive earnings per share are not reported as their effects of including 5,266,535 and 5,008,670 outstanding stock options and warrants for the twelve months ended December 31, 2012 and 2011, respectively are anti-dilutive.

 

Stock-Based Compensation

 

The Company records stock-compensation expense according to the provisions of ASC 718.  Under ASC 718, stock-based compensation costs are recognized based on the estimated fair value at the grant date for all stock-based awards.  The Company estimates grant date fair values using the Black-Scholes-Merton option pricing model, which requires assumptions of the life of the award and the stock price volatility over the term of the award.  The Company records compensation cost of stock-based awards using the straight line method, which is recorded into earnings over the vesting period of the award. Pursuant to the income tax provisions included in ASC 718-740, the Company has elected the “short cut method” of computing its hypothetical pool of additional paid-in capital that is available to absorb future tax benefit shortfalls.

 

Fair Value of Financial Instruments

 

The carrying values of financial instruments, including trade accounts receivable, accounts payable, other accrued expenses and long-term debt, approximate their fair values based on terms and related interest rates.

 

We follow a framework for measuring fair value. The framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are described below:

 

Level 1: Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets.

 

Level 2: Inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.

 

Level 3: Inputs to the valuation methodology are unobservable and significant to the fair value measurement.

 

A financial instrument's level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. During the twelve months ended December 31, 2012 and 2011, there was no reclassification in financial assets or liabilities between Level 1, 2 or 3 categories.

 

The following tables set forth by level, within the fair value hierarchy, our assets and liabilities as of December 31, 2012 and December 31, 2011 that are measured at fair value on a recurring basis:

 

Accrued stock compensation

 

  As of
December 31,
2012		     As of
December 31,
2011		  
Level 1     218,850       608,933  
Level 2     -       -  
Level 3   $ -     $ -  

 

The valuation technique used to measure fair value of the accrued stock compensation is based on quoted stock market prices.

 

Warrant derivative liability

 

    As of
December 31,
2012		     As of
December 31,
2011		  
Level 1     -       -  
Level 2     -       -  
Level 3   $ 984,356     $ 2,344,516  

  

Acquisition contingent consideration liability

 

    As of
December 31,
2012		     As of
December 31,
2011		  
Level 1     -       -  
Level 2     -       -  
Level 3   $ 91,740       450,166  

 

The valuation technique used to measure fair value of the warrant liability and contingent consideration is based on a lattice model and significant assumptions and inputs determined by us.

 

Level 3 Changes

 

The following is a reconciliation of the beginning and ending balances for liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the period ending December 31, 2012:

 

Warrant derivative liability

Balance at January 1, 2012   $ 2,344,516  
Gain recognized in earnings     (1,360,160 )
Balance at December 31, 2012   $ 984,356  

 

Acquisition contingent consideration liability

Balance at January 1, 2012   $ 450,166  
Gain recognized in earnings     (358,426 )
Balance at December 31, 2012   $ 91,740  

 

During the year ended December 31, 2012, the Company did not change any of the valuation techniques used to measure its liabilities at fair value.

 

Items measured at fair value on a non-recurring basis:

 

The Company’s royalty liability is carried at its estimated fair value based upon the discounted present value of the payments using an estimated discount rate.  The Company did not have access to a readily traded market for similar credit risks and the estimated interest rate was based upon the Company’s estimate of a market interest rate to obtain similar financing.  The Company originally discounted the $16.8 million of estimated payments at an interest rate of 16.7%. This was adjusted to an estimated royalty total of $13.8 million as of December 31, 2012.  Accordingly, these inputs are classified as Level 3 inputs.

 

Recent Accounting Pronouncements

There are no recently issued accounting standards for which the Company expects a material impact to its consolidated financial statements.
XML 59 R3.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Balance Sheets [Parenthetical] (USD $)
Dec. 31, 2012
Dec. 31, 2011
Trade accounts receivable, allowance for doubtful accounts (in dollars) $ 1,576,955 $ 1,232,806
Preferred stock, par value (in dollars per share) $ 0.000001 $ 0.000001
Preferred stock, shares authorized 5,000,000 5,000,000
Preferred stock, shares issued 0 0
Preferred stock, shares outstanding 0 0
Common stock, par value (in dollars per share) $ 0.000001 $ 0.000001
Common stock, shares authorized 95,000,000 95,000,000
Common stock, shares issued 42,877,770 40,841,218
Common Stock, shares outstanding 42,877,770 40,841,218
XML 60 R17.htm IDEA: XBRL DOCUMENT v2.4.0.6
Commitments and Contingencies
 12 Months Ended
Dec. 31, 2012
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Disclosure [Text Block]

(11)           Commitments and Contingencies

 

Operating Leases

 

We lease two office facilities under non-cancelable operating lease agreements with expiration dates in 2013 and 2019. We have the option to extend both the leases for another ten year term and for one facility, we have the right of first refusal on any sale. We have exercised the option to extend the lease that expires in 2013. We lease an additional office facility under a month-to-month arrangement. Future minimum payments for the next five years and thereafter as of December 31, 2012, under these leases, are as follows:

 

2013   $ 244,828  
2014   $ 263,136  
2015   $ 263,136  
2016   $ 263,136  
2017   $ 263,136  
Thereafter   $ 997,264  
Total   $ 2,294,636  

 

Rent expense was approximately $298,000 and $215,000 for the years ended December 31, 2012 and 2011, respectively. Rent expense is determined using the straight-line method of the minimum expected rent paid over the term of the agreement. We have no contingent rent agreements.

 

Indemnifications

 

Our arrangements generally include limited warranties and certain provisions for indemnifying customers against liabilities if our products or services infringe a third-party's intellectual property rights. To date, we have not incurred any material costs as a result of such warranties or indemnifications and have not accrued any liabilities related to such obligations in the accompanying financial statements.

 

We have also agreed to indemnify our directors and executive officers for costs associated with any fees, expenses, judgments, fines and settlement amounts incurred by any of these persons in any action or proceeding to which any of those persons is, or is threatened to be, made a party by reason of the person's service as a director or officer, including any action by us, arising out of that person's services as our director or officer or that person's services provided to any other company or enterprise at our request.

 

Litigation

 

On April 4, 2012, Bacterin International, Inc. filed suit against SeaArk Capital, LLC and its principal, Mark Bartosh, seeking recovery of $1,648,993.58 for product delivered to SeaArk in 2011.  The case is pending in the United States District Court of the Eastern District of Pennsylvania and the parties are engaged in settlement negotiations.  In connection with this litigation, Bacterin also filed a motion for a prejudgment writ of replevin or attachment in the Third Judicial District Court in the State of Utah to recover product previously sold to SeaArk.  The Utah case was removed to the United States District Court for the District of Utah and Bacterin’s motion for prejudgment writ was granted.  SeaArk has returned all Bacterin products previously stored in Utah.

 

On April 19, 2012, Bacterin International, Inc. filed a lawsuit in federal court in Dallas, Texas, seeking injunctive relief and damages against Shantal Howell, a former regional vice president of the company.  The suit arises out of the former employee’s breach of contract, breach of fiduciary duties, interference with Bacterin’s business relationships, and misappropriation of Bacterin’s trade secrets.  On June 8, 2012, Howell asserted a counterclaim against Bacterin for breach of contract and defamation, seeking damages for allegedly owed commissions and loss of business.  The parties entered into a settlement agreement in January of 2013 whereby Ms. Howell agreed to pay Bacterin $15,000, and Ms. Howell also agreed not to compete with Bacterin or solicit customers of Bacterin for one year.
XML 61 R1.htm IDEA: XBRL DOCUMENT v2.4.0.6
Document And Entity Information (USD $)
 12 Months Ended
Dec. 31, 2012
Mar. 05, 2013
Jun. 30, 2012
Entity Registrant Name Bacterin International Holdings, Inc.    
Entity Central Index Key 0001453593    
Current Fiscal Year End Date --12-31    
Entity Filer Category Smaller Reporting Company    
Entity Common Stock, Shares Outstanding   42,649,964  
Trading Symbol bone    
Document Type 10-K    
Amendment Flag false    
Document Period End Date Dec. 31, 2012    
Document Fiscal Period Focus FY    
Document Fiscal Year Focus 2012    
Entity Well-Known Seasoned Issuer No    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Public Float     $ 35,147,703
XML 62 R18.htm IDEA: XBRL DOCUMENT v2.4.0.6
Income Taxes
 12 Months Ended
Dec. 31, 2012
Income Tax Disclosure [Abstract]  
Income Tax Disclosure [Text Block]

(12)           Income Taxes

 

The Company’s provision for income taxes differs from applying the statutory U.S. federal income tax rate to income before taxes. The primary difference results from providing for state income taxes and from deducting certain expenses for financial statement purposes but not for federal income tax purposes.

 

The components of income (loss) before provision for income taxes consist of the following:

 

    Year Ended December 31,  
    2012     2011  
             
United States   $ (7,713,822 )   $ (3,006,469 )
                 
    $ (7,713,822 )   $ (3,006,469 )

 

The components of the income tax provision are as follows:

 

    Year Ended December 31,  
    2012     2011  
             
Current:        
Federal   $ -     $ -  
State     -       -  
Total current     -       -  
                 
Deferred:                
Federal     -       -  
State     -       -  
Total deferred     -       -  
                 
    $ -     $ -  

 

The reconciliation of income tax attributable to operations computed at the U.S. Federal statutory income tax rate of 35% to income tax expense is as follows:

 

    Year Ended December 31,  
    2012     2011  
Statutory Federal tax rate   $ (2,699,838 )   $ (1,052,264 )
Valuation allowance     2,789,646       3,729,905  
State income taxes, net of Federal benefit     (443,236 )     (172,752 )
Change in state income tax rate     823,665       -  
Change in Warrant Derivative Liability     (554,211 )     (2,598,646 )
Nondeductible meals & entertainment expense     83,974       93,757  
                 
    $ -     $ -  

Deferred tax components are as follows:

 

    At December 31,  
    2012     2011  
             
Deferred tax assets:                
Current deferred tax assets                
Accrued liability for vacation   $ 75,442     $ 78,972  
Bad debt reserve     642,546       540,462  
Charitable contributions carrforward     19,686       14,835  
Inventory reserve     456,026       362,399  
Restricted stock compensation     94,212       266,957  
Total current deferred tax assets     1,287,912       1,263,625  
Valuation Allowance     (1,287,912 )     (1,263,625 )
                 
Net current deferred tax assets     -       -  
                 
Noncurrent deferred tax assets                
Net operating loss carryovers     11,963,305       9,673,993  
Stock warrants     139,549       -  
Stock option compensation     1,023,192       749,755  
Total noncurrent deferred tax assets     13,126,046       10,423,748  
Valuation allowance     (13,172,543 )     (10,407,184 )
                 
Net noncurrent deferred tax assets     (46,497 )     16,564  
                 
Deferred tax liabilities:                
Goodwill Amortization     (11,346 )     (3,782 )
Depreciation     31,055       (31,037 )
Amortization     26,788       18,255  
                 
Total deferred tax liabilities     46,497       (16,564 )
                 
Net deferred tax assets   $ -     $ -  

 

The ultimate realization of deferred tax assets is dependent upon the existence, or generation, of taxable income in the periods when those temporary differences and net operating loss carryovers are deductible. Management considers the scheduled reversal of deferred tax liabilities, taxes paid in carryover years, projected future taxable income, available tax planning strategies, and other factors in making this assessment. Based on available evidence, management does not believe it is more likely than not that all of the deferred tax assets will be realized. Accordingly, the Company has established a valuation allowance equal to the net realizable deferred tax assets. The valuation allowance increased by $2,789,646 in 2012 and decreased by $2,041,543 in 2011.

 

At December 31, 2012 and 2011, the Company had total domestic Federal and state net operating loss carryovers of approximately $29,360,685 and $22,069,461, respectively. Federal net operating loss carryovers expire at various dates between 2024 and 2032, while state net operating loss carryovers expire between 2024 and 2032.

 

Under the Tax Reform Act of 1986, as amended, the amounts of and benefits from net operating loss carryovers and research and development credits may be impaired or limited in certain circumstances. Events which cause limitations in the amount of net operating losses that the Company may utilize in any one year include, but are not limited to, a cumulative ownership change of more than 50%, as defined, over a three year period. The Company does not believe that such an ownership change has occurred in 2012 or 2011.

 

The 2009 through 2011 tax years remain open to examination by the Internal Revenue Service and the 2007 to 2011 tax years remain open to the Montana Department of Revenue and various other state tax agencies. These taxing authorities have the authority to examine those tax years until the applicable statute of limitations expire.

 

The Company did not recognize any interest or penalties related to income taxes for the years ended December 31, 2012 and 2011.
XML 63 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Operations (USD $)
 12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Revenue    
Tissue sales $ 32,414,026 $ 29,657,423
Royalties and other 565,873 492,059
Total Revenue 32,979,899 30,149,482
Cost of tissue and medical devices sales 10,337,303 9,109,250
Gross Profit 22,642,596 21,040,232
Operating Expenses    
General and administrative 11,135,058 6,935,101
Sales and marketing 15,617,416 18,501,204
Depreciation and amortization 406,888 379,387
Non-cash consulting expense 427,787 1,675,008
Total Operating Expenses 27,587,149 27,490,700
Loss from Operations (4,944,553) (6,450,468)
Other Income (Expense)    
Interest expense (1,864,901) (1,162,597)
Change in warrant derivative liability 1,360,160 6,377,671
Write-off of debt related costs (705,885) (1,300,000)
Other income (expense) (1,558,643) (471,075)
Total Other Income (Expense) (2,769,269) 3,443,999
Net Loss Before (Provision) Benefit for Income Taxes (7,713,822) (3,006,469)
(Provision) Benefit for Income Taxes    
Current 0 0
Deferred 0 0
Net Loss $ (7,713,822) $ (3,006,469)
Net loss per share:    
Basic $ (0.18) $ (0.08)
Dilutive $ (0.18) $ (0.08)
Shares used in the computation:    
Basic 42,445,386 38,944,256
Dilutive 42,445,386 38,944,256
XML 64 R12.htm IDEA: XBRL DOCUMENT v2.4.0.6
Intangible Assets
 12 Months Ended
Dec. 31, 2012
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets Disclosure [Text Block]

(6)           Intangible Assets

 

Bacterin has applied for various patents with regards to processes for its products.

 

The following table sets forth information regarding intangible assets:

 

 

December 31,
2012

  

December 31,
2011

 
Intellectual Property      
Gross carrying value $820,778  $809,615 
Accumulated amortization $(228,400) $(153,482)
Net carrying value $592,378  $656,133 
         
Aggregate amortization expense: $74,918  $53,638 
         
Estimated amortization expense:        
         
2013     $74,918 
2014     $74,918 
2015     $74,918 
2016     $74,918 
2017     $74,918 
Thereafter     $217,788 
Total     $592,378
XML 65 R11.htm IDEA: XBRL DOCUMENT v2.4.0.6
Property and Equipment, Net
 12 Months Ended
Dec. 31, 2012
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Disclosure [Text Block]

(5)           Property and Equipment, Net

 

Property and equipment, net are as follows:

 

  December 31, 
  2012  2011 
Buildings $1,653,263  $1,653,263 
Equipment  5,172,523   3,597,471 
Computer equipment  312,650   392,375 
Computer software  392,206   228,054 
Furniture and fixtures  170,118   171,418 
Leasehold improvements  1,793,756   1,357,218 
Vehicles  78,306   68,306 
Total cost  9,572,822   7,468,105 
Less: accumulated depreciation  (4,337,955)  (3,693,965)
  $5,234,867  $3,774,140 

 

The Company leases certain equipment under capital leases. For financial reporting purposes, minimum lease payments relating to the assets have been capitalized. As of December 31, 2012, the Company has recorded $549,604 gross assets in Equipment, and $66,886 of accumulated depreciation relating to assets under capital leases.

 

Maintenance and repairs expense for 2012 and 2011 was $287,811 and $109,171, respectively.  Depreciation expense related to property and equipment, including property under capital lease for 2012 and 2011 was $707,971 and $701,748, respectively.
XML 66 R23.htm IDEA: XBRL DOCUMENT v2.4.0.6
Business Description and Summary of Significant Accounting Policies (Policies)
 12 Months Ended
Dec. 31, 2012
Organization, Consolidation and Presentation Of Financial Statements [Abstract]  
Business Description [Policy Text Block]

Business Description

 

The accompanying consolidated financial statements include the accounts of Bacterin International Holdings, Inc., a Delaware corporation, and its wholly owned subsidiary, Bacterin International, Inc., a Nevada corporation, (collectively, the “Company” or “Bacterin”). All intercompany balances and transactions have been eliminated in consolidation. Bacterin’s biologics division develops, manufactures and markets biologics products to domestic and international markets.  Bacterin’s proprietary methods are used in human allografts to create stem cell scaffolds and promote bone and other tissue growth.  These products are used in a variety of applications including enhancing fusion in spine surgery, relief of back pain with a facet joint stabilization, promotion of bone growth in foot and ankle surgery, promotion of skull healing following neurosurgery and regeneration in knee and other joint surgeries.

 

Bacterin’s device division develops bioactive coatings based upon proprietary knowledge of the phenotypical changes made by microbes as they sense and adapt to changes in their environment. Bacterin develops, employs, and licenses bioactive coatings for various medical device applications.  

 

An operating segment is a component of an enterprise whose operating results are regularly reviewed by the enterprise’s chief operating decision maker to make decisions about resources to be allocated to the segment and assess its performance. The primary performance measure used by management is net income or loss. The Company operates in two distinct lines of business consisting of the biologics and devices divisions. However, due to the immaterial revenue from devices to date, the Company reports as one segment.

 

The Company's revenue is derived principally from the sale or license of its medical products, coatings and device implants. The markets in which the Company competes are highly competitive and rapidly changing. Significant technological advances, changes in customer requirements, or the emergence of competitive products with new capabilities or technologies could adversely affect the Company's operating results. The Company's business could be harmed by a decline in demand for, or in the prices of, its products or as a result of, among other factors, any change in pricing or distribution model, increased price competition, changes in government regulations or a failure by the Company to keep up with technological change.  Further, a decline in available tissue donors could have an adverse impact on the business.
Basis of Accounting, Policy [Policy Text Block]

Presentation

 

Certain amounts in the 2011 consolidated financial statements have been reclassified to conform to the 2012 presentation.
Concentration Risk, Credit Risk, Policy [Policy Text Block]

Concentrations and Credit Risk

 

The Company’s accounts receivable are due from a variety of health care organizations and distributors throughout the world. Approximately 97% and 98% of sales were in the United States for 2012 and 2011, respectively. One customer accounted for approximately 5% and 6% of the Company’s revenue for 2012 and 2011, respectively.  One customer represented 22% and 21% of accounts receivable at December 31, 2012 and 2011, respectively. The Company provides for uncollectible amounts when specific credit issues arise. Management’s estimates for uncollectible amounts have been adequate during prior periods, and management believes that all significant credit risks have been identified at December 31, 2012.

 

Revenue by geographical region is as follows:

 

  Year ended
December 31,		 
  2012  2011 
United States $31,947,757  $29,571,446 
Rest of World  1,032,142   578,036 
  $32,979,899  $30,149,482 
Use of Estimates, Policy [Policy Text Block]

Use of Estimates

 

The preparation of the financial statements requires management of the Company to make a number of estimates and assumptions relating to the reported amount of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the period; the carrying amount of property and equipment and intangible assets; valuation allowances for trade receivables and deferred income tax assets; valuation of the warrant derivative liability; inventory reserve; contingent consideration from acquisitions; royalty liability; and estimates for the fair value of stock options grants and other equity awards upon which the Company determines stock-based compensation expense. Actual results could differ from those estimates.
Cash and Cash Equivalents, Policy [Policy Text Block]

Cash and Cash Equivalents

 

The Company considers all highly liquid investments purchased with an original maturity date of three months or less to be cash equivalents.  Cash equivalents are recorded at cost, which approximates market value. At times the Company maintains deposits in financial institutions in excess of federally insured limits.
Receivables, Policy [Policy Text Block]

Accounts Receivable

 

Accounts receivable represents amounts due from customers for which revenue has been recognized. Normal terms on trade accounts receivable are net 30 days and some customers are offered discounts for early pay.   The Company performs credit evaluations when considered necessary, but generally does not require collateral to extend credit.

 

The allowance for doubtful accounts is the Company's best estimate of the amount of probable credit losses in the Company's existing receivables. The Company determines the allowance based on factors such as historical collection experience, customer's current creditworthiness, customer concentration, age of accounts receivable balance, general economic conditions that may affect a customer's ability to pay and management judgment. Actual customer collections could differ from estimates. Account balances are charged to the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. Provisions to the allowance for doubtful accounts are charged to expense. The Company does not have any off-balance sheet credit exposure related to its customers.
Accounts Payable Related Party Policy [Policy Text Block]

Accounts Payable - Related Party

 

Accounts payable to a related party included amounts due to American Donor Services, a supplier of donors to the Company. See Note 15, “Related Party Transactions” below.
Inventory, Policy [Policy Text Block]

Inventories

Inventories are stated at the lower of cost or market.  Cost is determined using the specific identification method and includes materials, labor and overhead. The Company calculates an inventory reserve for estimated obsolescence or excess inventory based on historical usage and sales, as well as assumptions about future demand for its products. These estimates for excess and obsolete inventory are reviewed and updated on a quarterly basis. Increases in the inventory reserves result in a corresponding expense, which is generally recorded to cost of tissue and medical devices sales. Inventories where the sales cycle is estimated to be beyond twelve months are classified as Non-current inventories.
Property, Plant and Equipment, Policy [Policy Text Block]

Property and Equipment

 

Property and equipment are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, generally three to seven years for computers and equipment, and 30 years for buildings. Leasehold improvements are depreciated over the shorter of their estimated useful life or the remaining term of the lease. Repairs and maintenance are expensed as incurred.
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block]

Goodwill

 

Goodwill represents the excess of costs over fair value of assets of businesses acquired. Goodwill and intangible assets acquired in a purchase business combination and determined to have indefinite useful lives are not amortized, instead are tested for impairment at least annually and whenever events or circumstances indicate the carrying amount of the asset may not be recoverable. In its evaluation of goodwill, the Company performs an assessment of qualitative factors to determine if it is more-likely-than-not that goodwill might be impaired and whether it is necessary to perform the two-step goodwill impairment. The Company conducts its annual impairment test on December 31 of each year. See Note 3, “Goodwill” below.
Derivatives, Reporting of Derivative Activity [Policy Text Block]

Derivative Instruments

 

The Company accounts for its derivative instruments in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 815 “Accounting for Derivative Instruments and Hedging Activities”. The only derivative instruments presented in the accompanying consolidated financial statements relates to warrants issued in connection with certain debt financings. The Company has not designated its warrant derivative liability as a hedging instrument as described in ASC 815 and any changes in the fair market value of the warrant derivative liability is recognized in the statement of operations during the period of change. See Note 10, “Warrants” below.
Intangible Assets, Finite-Lived, Policy [Policy Text Block]

Intangible Assets

 

Intangible assets with estimable useful lives must be amortized over their respective estimated useful lives to their estimated residual values, and reviewed for impairment whenever events or circumstances indicate their carrying amount may not be recoverable. Intangible assets include trademarks, customer lists and patents and include costs to acquire and protect Company patents. Intangible assets are carried at cost less accumulated amortization. The Company amortizes these assets on a straight-line basis over their estimated useful lives of five years for customer lists and 15 years for all other intangible assets.
Revenue Recognition, Policy [Policy Text Block]

Revenue Recognition

 

Revenue is recognized when all of the following criteria are met: a) the Company has entered into a legally binding agreement with the customer; b) the products or services have been delivered; c) the Company's fee for providing the products and services is fixed or determinable; and d) collection of the Company’s fee is probable.

 

The Company’s policy is to record revenue net of any applicable sales, use, or excise taxes.  If an arrangement includes a right of acceptance or a right to cancel, revenue is recognized when acceptance is received or the right to cancel has expired.

 

The Company ships to certain customers under consignment arrangements whereby the Company’s product is stored by the customer.  The customer is required to report the use to the Company and upon such notice, the Company invoices the customer and revenue is recognized when above criteria has been met.

 

The Company also receives royalty revenue from third parties related to licensing agreements. The Company has royalty agreements with Nufix, RyMed and Bard Access Systems. Revenue under these agreements represented less than 1% of total revenue for 2012 and 2011.
Non Cash Consulting Expense [Policy Text Block]

Non-Cash Consulting Expense

 

From time to time, the Company issues restricted stock awards to consultants and advisors to the Company. These awards are measured at fair value at each reporting date, recognized ratably over the vesting period and are recorded in non-cash consulting expense.
Advertising Costs, Policy [Policy Text Block]

Advertising Costs

 

The Company expenses advertising costs as incurred. Advertising costs of approximately $51,000 and $81,000 were expensed for the years ended December 31, 2012 and 2011, respectively.
Research and Development Expense, Policy [Policy Text Block]

Research and Development

 

Research and development costs, which are principally related to internal costs for the development of new technologies and processes for tissue and coatings, are expensed as incurred.
Income Tax, Policy [Policy Text Block]

Income Taxes

 

The Company accounts for income taxes under the asset and liability method of accounting for deferred taxes as prescribed under FASB ASC 740, Accounting for Income Taxes.  Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. When applicable, a valuation allowance is established to reduce any deferred tax asset when it is determined that it is more likely than not that some portion of the deferred tax asset will not be realized. ASC 740 also requires reporting of taxes based on tax positions that meet a more-likely-than-not standard and that are measured at the amount that is more-likely-than-not to be realized. Differences between financial and tax reporting which do not meet this threshold are required to be recorded as unrecognized tax benefits. ASC 740 also provides guidance on the presentation of tax matters and the recognition of potential IRS interest and penalties. The Company classifies penalty and interest expense related to income tax liabilities as an income tax expense. There are no significant interest and penalties recognized in the statement of operations or accrued on the balance sheet. See Note 12, “Income Taxes” below.
Impairment or Disposal of Long-Lived Assets, Including Intangible Assets, Policy [Policy Text Block]

Long-Lived Assets

 

Long-lived assets, including intangible assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to future net cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the estimated fair value of the assets. No impairment was recorded during the years ended December 31, 2012 or 2011.
Earnings Per Share, Policy [Policy Text Block]

Net Loss Per Share

 

Basic net income (loss) per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding. Shares issued during the period and shares reacquired during the period are weighted for the portion of the period that they were outstanding. Diluted net income (loss) per share is computed in a manner consistent with that of basic earnings per share while giving effect to all potentially dilutive common shares outstanding during the period, which include the assumed exercise of stock options and warrants using the treasury stock method.  Diluted net loss per share was the same as basic net loss per share for the years ended December 31, 2012 and 2011 as shares issuable upon the exercise of stock options and warrants were anti-dilutive as a result of the net losses incurred for those periods.

 
Dilutive earnings per share are not reported as their effects of including 5,266,535 and 5,008,670 outstanding stock options and warrants for the twelve months ended December 31, 2012 and 2011, respectively are anti-dilutive.
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]

Stock-Based Compensation

 

The Company records stock-compensation expense according to the provisions of ASC 718.  Under ASC 718, stock-based compensation costs are recognized based on the estimated fair value at the grant date for all stock-based awards.  The Company estimates grant date fair values using the Black-Scholes-Merton option pricing model, which requires assumptions of the life of the award and the stock price volatility over the term of the award.  The Company records compensation cost of stock-based awards using the straight line method, which is recorded into earnings over the vesting period of the award.Pursuant to the income tax provisions included in ASC 718-740, the Company has elected the “short cut method” of computing its hypothetical pool of additional paid-in capital that is available to absorb future tax benefit shortfalls.

 
Fair Value of Financial Instruments, Policy [Policy Text Block]

Fair Value of Financial Instruments

 

The carrying values of financial instruments, including trade accounts receivable, accounts payable, other accrued expenses and long-term debt, approximate their fair values based on terms and related interest rates.

 

We follow a framework for measuring fair value. The framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are described below:

 

Level 1: Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets.

 

Level 2: Inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.

 

Level 3: Inputs to the valuation methodology are unobservable and significant to the fair value measurement.

 

A financial instrument's level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. During the twelve months ended December 31, 2012 and 2011, there was no reclassification in financial assets or liabilities between Level 1, 2 or 3 categories.

 

The following tables set forth by level, within the fair value hierarchy, our assets and liabilities as of December 31, 2012 and December 31, 2011 that are measured at fair value on a recurring basis:

 

Accrued stock compensation

 

  As of
December 31,
2012		     As of
December 31,
2011		  
Level 1     218,850       608,933  
Level 2     -       -  
Level 3   $ -     $ -  

 

The valuation technique used to measure fair value of the accrued stock compensation is based on quoted stock market prices.

 

Warrant derivative liability

 

    As of
December 31,
2012		     As of
December 31,
2011		  
Level 1     -       -  
Level 2     -       -  
Level 3   $ 984,356     $ 2,344,516  

  

Acquisition contingent consideration liability

 

    As of
December 31,
2012		     As of
December 31,
2011		  
Level 1     -       -  
Level 2     -       -  
Level 3   $ 91,740       450,166  

 

The valuation technique used to measure fair value of the warrant liability and contingent consideration is based on a lattice model and significant assumptions and inputs determined by us.

 

Level 3 Changes

 

The following is a reconciliation of the beginning and ending balances for liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the period ending December 31, 2012:

 

Warrant derivative liability

Balance at January 1, 2012   $ 2,344,516  
Gain recognized in earnings     (1,360,160 )
Balance at December 31, 2012   $ 984,356  

 

Acquisition contingent consideration liability

Balance at January 1, 2012   $ 450,166  
Gain recognized in earnings     (358,426 )
Balance at December 31, 2012   $ 91,740  

 

During the year ended December 31, 2012, the Company did not change any of the valuation techniques used to measure its liabilities at fair value.

 

Items measured at fair value on a non-recurring basis:

 

The Company’s royalty liability is carried at its estimated fair value based upon the discounted present value of the payments using an estimated discount rate.  The Company did not have access to a readily traded market for similar credit risks and the estimated interest rate was based upon the Company’s estimate of a market interest rate to obtain similar financing.  The Company originally discounted the $16.8 million of estimated payments at an interest rate of 16.7%. This was adjusted to an estimated royalty total of $13.8 million as of December 31, 2012.  Accordingly, these inputs are classified as Level 3 inputs.
New Accounting Pronouncements, Policy [Policy Text Block]

Recent Accounting Pronouncements

There are no recently issued accounting standards for which the Company expects a material impact to its consolidated financial statements.
XML 67 R19.htm IDEA: XBRL DOCUMENT v2.4.0.6
Employee Benefit Plans
 12 Months Ended
Dec. 31, 2012
Compensation and Retirement Disclosure [Abstract]  
Compensation and Employee Benefit Plans [Text Block]

(13)           Employee Benefit Plans

 

As of January 1, 2011, we switched from a SIMPLE IRA to a 401(k) retirement plan.  Qualified employees may defer their salary and the deferrals are matched up to 2%.  The plan covers substantially all full-time employees.  Under the terms of the plan, participants may contribute up to the lower of $16,500 of their salary or the statutorily prescribed limit to the plan.  Employees are eligible after six months of employment and may enroll twice a year in January and July.
XML 68 R15.htm IDEA: XBRL DOCUMENT v2.4.0.6
Stock-Based Compensation
 12 Months Ended
Dec. 31, 2012
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract]  
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

(9)           Stock-Based Compensation

 

Our Equity Incentive Plan ("The Plan") provides for stock awards, including options and performance stock awards, to be granted to employees, consultants, independent contractors, officers and directors. The purpose of the incentive compensation plan is to enable us to attract, retain and motivate key employees, directors and, on occasion, independent consultants, by providing them with stock options and restricted stock grants. Stock options granted under the incentive compensation plan may be either incentive stock options to employees, as defined in Section 422A of the Internal Revenue Code of 1986, or non-qualified stock options. The plan is currently administered by the compensation committee of our Board of Directors. The administrator of the plan has the power to determine the terms of any stock options granted under the incentive plan, including the exercise price, the number of shares subject to the stock option and conditions of exercise. Stock options granted under the incentive plan are generally not transferable, vest in installments over the requisite service period and are exercisable during the stated contractual term of the option only by such optionee. The exercise price of all incentive stock options granted under the incentive plan must be at least equal to the fair market value of the shares of common stock on the date of the grant. 9 million shares are authorized under the Plan and at December 31, 2012, we had approximately 1,559,898 shares available for issuance. Shares issued under the Plan may be authorized, but unissued, or reacquired shares.

 

Stock compensation expense recognized in the statement of operations for the years ended December 31, 2012 and 2011 is based on awards ultimately expected to vest and reflects an estimate of awards that will be forfeited. ASC 718 requires forfeitures to be estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates.

 

The estimated fair value of stock options granted is done using the Black-Sholes-Merton method applied to individual grants. Key assumptions used to estimate the fair value of stock awards are as follows:

 

· Risk-Free Rate: The risk-free rate is determined by reference to U.S. Treasury yields at or near the time of grant for time periods similar to the expected term of the award. We used a weighted-average rate of 1.20% for year ended December 31, 2012.

 

· Expected Term: We do not have adequate history to estimate an expected term of stock-based awards, and accordingly, we use the short-cut method as prescribed by Staff Accounting Bulletin 107 to determine an expected term. We used a weighted-average expected term of 6.7 years for the year ended December 31, 2012.

 

· Volatility: We estimate expected volatility based on peer-companies as prescribed by ASC 718. We used a weighted-average volatility rate of 66% for the year ended December 31, 2012.

 

· Dividend Yield: The dividend yield assumption is based on our history and expectation of dividend payouts and was 0% as of December 31, 2012 and 2011.

 

Activity under our stock option plans was as follows:

 

    2012     2011  
    Shares     Weighted
Average
Exercise Price		     Weighted
Average Fair
Value at Grant
Date		     Shares     Weighted
Average
Exercise Price		     Weighted
Average Fair
Value at Grant
Date		  
Outstanding at January 1     4,828,910     $ 2.14     $ 1.01       3,850,743     $ 1.38     $ 0.84  
Granted     1,716,250       1.79       1.03       2,261,750       2.90       1.39  
Exercised     (39,375 )     0.87       0.37       (775,833 )     1.31       0.66  
Cancelled or expired     (1,239,250 )     2.17       0.39     (507,750 )     2.42       1.23  
Outstanding at December 31     5,266,535     $ 2.02     $ 1.03       4,828,910     $ 2.14     $ 1.01  
Exercisable at December 31     2,565,301     $ 1.83     $ 0.80       2,194,593     $ 1.63     $ 0.67  

 

The total intrinsic value of options exercised in 2012 was $39,375. The aggregate intrinsic value of options outstanding as of December 31, 2012 is $473,416. The aggregate intrinsic value of exercisable options as of December 31, 2012 is $473,416. As of December 31, 2012, there were 2,701,234 unvested options with a weighted average fair value at the grant date of $1.18 per option. As of December 31, 2012, there is no compensation related to nonvested awards not yet recognized.

 

From time to time we may grant stock options and restricted stock grants to consultants. We account for consultant stock options in accordance with ASC 505-50. Consulting expense for the grant of stock options to consultants is determined based on the estimated fair value of the stock options at the measurement date as defined in ASC 505-50 and is recognized over the vesting period.

 

The following table summarizes restricted stock award activity during the year ended December 31, 2012:

 

    Shares  
Outstanding at Jan. 1, 2012     1,632,900  
Awarded     151,000  
Cancelled     (677,500 )
Vested     (372,500 )
Outstanding at December 31, 2012     733,900  

 

The restricted stock awards generally vest over three to five year periods. The Company recognized non cash consulting expense of $427,787 and $1,675,008 for the years ended December 31, 2012 and 2011, respectively. As of December 31, 2012, the total expense related to nonvested restricted stock awards not yet recognized is $562,622 and is expected to be recognized over four years.
XML 69 R60.htm IDEA: XBRL DOCUMENT v2.4.0.6
Warrants (Details 1) (USD $)
 12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Value of underlying common stock (per share) $ 1.25 $ 1.56
Risk free interest rate 0.24% 0.32%
Expected term 3 years 9 months 29 days 4 years 8 months 1 day
Dividend yield 0.00% 0.00%
Volatility 72.00% 69.00%
XML 70 R13.htm IDEA: XBRL DOCUMENT v2.4.0.6
Accrued Liabilities
 12 Months Ended
Dec. 31, 2012
Payables and Accruals [Abstract]  
Accounts Payable and Accrued Liabilities Disclosure [Text Block]

(7)           Accrued Liabilities

 

Accrued liabilities consist of the following:

 

  December 31, 
  2012  2011 
Acquisition contingent liability $91,740  $450,166 
Accrued stock compensation  218,850   608,933 
Wages/commissions payable  1,013,909   1,289,827 
Other accrued expenses  1,075,591   1,413,285 
  $2,400,090  $3,762,211 
XML 71 R14.htm IDEA: XBRL DOCUMENT v2.4.0.6
Long-term Debt
 12 Months Ended
Dec. 31, 2012
Debt Disclosure [Abstract]  
Long-term Debt [Text Block]

(8)          Long-term Debt

 

On July 29, 2011, we entered into Loan and Security Agreement with MidCap Funding III, LLC (“MidCap”), whereby MidCap and Silicon Valley Bank (“SVB”) agreed to provide a $15 million credit facility which allowed us to borrow $7 million and up to an additional $8 million in connection with a permitted acquisition through December 31, 2011. The $8 million portion expired unused as of December 31, 2011. The credit facility was secured by substantially all of our assets and carried an interest rate of LIBOR plus 7.5%, subject to a LIBOR floor rate of 3% and contained covenants based upon revenue thresholds. Repayment was interest only for the first nine months, with principal and interest for the subsequent 33 months. In the second quarter of 2012, the interest only period was extended through December 31, 2012. We repaid this loan in full with the proceeds from our credit facility with ROS Acquisition Offshore LP (“ROS”) on August 24, 2012.

 

On April 23, 2012, the Company secured an accounts receivable credit facility with Midcap Financial LLC and Silicon Valley Bank. The revolving loan credit facility allowed Bacterin to borrow up to $5 million through January 1, 2015. The facility allowed borrowings based upon a predetermined formula of up to 80% of Bacterin's eligible accounts receivable, as defined in the credit and security agreement. The Company also amended its existing Loan and Security Agreement with MidCap to allow the Company to borrow up to an additional $3 million for the next nine months in connection with a permitted acquisition. The credit facility carried an interest rate of LIBOR plus 4%, subject to a LIBOR floor rate of 2.5%. The Company also agreed to pay a 0.5% collateral management fee on the average outstanding balance of the facility and 1% of the average unused portion of the facility, as well as a 1% origination fee. The Company repaid this accounts receivable credit facility in full with the proceeds from the credit facility with ROS on August 24, 2012.

 

On August 24, 2012, the Company entered into a Credit Agreement with ROS, whereby ROS agreed to provide an initial $20 million term loan and Bacterin may also borrow an additional $5 million upon achievement of certain revenue objectives prior to December 31, 2013. The loan carries an interest rate of LIBOR plus 12.13%, subject to a LIBOR floor rate of 1.0%. Bacterin also agreed to pay a royalty of 1.75% on the first $45,000,000 of net sales, plus 1.0% of net sales in excess of $45,000,000 for each of the next ten years. Bacterin has the right to repurchase the loan and royalty interest at amount to be determined based on the date of repurchase and the amount of prior principal, interest and royalty payments. The loan is secured by substantially all of our assets. The estimate of the royalty component of the facility over the life of the agreement resulted in a debt discount and a royalty liability of $7,341,520. The debt discount will be amortized to interest expense over the seven year term of the loan using the effective interest method. The royalty liability will be accreted to $13.8 million through interest expense over the ten year term of the royalty agreement using the effective interest method. Payments made under the royalty agreement, per the table below, will directly reduce the royalty liability.

 

Other non-operating expense in 2012 consisted of a non cash charge of approximately $706,000 of debt discounts and loan origination fees written off in addition to approximately $944,000 of prepayment penalties related to the term financing with MidCap and Silicon Valley Bank that was prepaid in connection with the new 2012 term loan financing with OrbiMed. Other non-operating expense in 2011 consisted of a non cash charge of approximately $1,300,000 of debt discounts written off in connection with the new 2011 term loan financing with MidCap Financial and Silicon Valley Bank.

 

 The Company received net proceeds of approximately $10 million following repayment of the existing term loan and accounts receivable credit facility with MidCap Financial, including prepayment penalties. The Company plans to use the net proceeds for working capital and general corporate purposes.

 

Long-term debt consists of the following:

 

   

December 31,
2012

    

December 31,
 2011

  
Loan payable to ROS Acquisition Offshore, LIBOR plus 12.13% maturing August 2019   $ 20,000,000     $ -  
Loan payable to MidCap, LIBOR plus 7.5% maturing January 2015     -       4,666,667  
Loan payable to SVB, LIBOR plus 7.5% maturing January 2015     -       2,333,333  
6.00% loan payable to Valley Bank of Belgrade, $10,746 monthly payments including interest, maturing December 24, 2030; secured by building     1,421,420       1,464,183  
      21,421,420       8,464,183  
                 
Less: Current portion     (45,135 )     (1,632,978 )
Debt discount     (6,893,183 )     (192,935 )
Long-term debt   $ 14,483,102     $ 6,638,270  

 

The following is a summary of maturities due on the debt as of December 31, 2012:

 

2013     45,135  
2014     47,919  
2015     50,875  
2016     1,720,679  
2017     6,724,041  
Thereafter     12,832,771  
Total   $ 21,421,420  

 

The following is a summary of estimated future royalty payments as of December 31, 2012:

 

2013     788,000  
2014     853,000  
2015     1,050,000  
2016     1,289,000  
2017     1,384,000  
Thereafter     8,477,000  
Total   $ 13,841,000
XML 72 R16.htm IDEA: XBRL DOCUMENT v2.4.0.6
Warrants
 12 Months Ended
Dec. 31, 2012
Other Equity Transactions [Abstract]  
Other Equity Transactions [Text Block]

(10)           Warrants

 

Associated with the second quarter of 2011 private placement of common stock, 375,747 warrants with exercise prices ranging from $2.95 to $3.52 were issued to the participants. Warrants issued with common stock under this private placement were recorded as additional paid in capital at their estimated fair market value of $312,285 during the second quarter of 2011.

 

In connection with the July 29, 2011MidCap financing described above, MidCap and SVB received 192,157 warrants to purchase shares of our common stock equal to 7% of the amount drawn on the credit facility divided by the exercise price of $2.55 per share. The warrants have a seven year term. MidCap and SVB also had the right to receive additional warrants if additional amounts were drawn under the facility. The fair value of these warrants, $227,388, was recorded as a discount to the underlying debt and additional paid in capital.

 

In the third quarter of 2012, the Company issued 297,991 warrants with an exercise price of $2.30 to a broker in conjunction with the August 24, 2012 financing arrangement with ROS. These were recorded in “Other Assets” and will be amortized over the life of the financing term. These warrants were issued in the fourth quarter of 2012. In addition, on July 23, 2012 the Company issued 300,895 warrants with an exercise price of $1.03 to a private party resulting in $342,485 recorded in “Other Expense”.

 

The following table summarizes our warrant activities for the period ended December 31, 2012:

 

          Weighted  
          Average  
          Exercise  
    Shares     Price  
Outstanding at January 1, 2012     6,967,529     $ 2.22  
Issued     598,886       1.66  
Exercised     (244,748 )     1.58  
Outstanding at December 31, 2012     7,321,667     $ 2.20  

 

The exercise of 244,748 warrants in 2012 resulted in the issuance of 129,972 shares of common stock as the warrants were exercised using the cashless feature of the warrants.

 

We utilize a lattice model to determine the fair market value of the warrants accounted for as liabilities. The 1,570,565 warrants issued in connection with a 2010 bridge financing and 375,000 warrants issued in connection with a 2010 debt financing were accounted for as derivative liabilities in connection with the price protection provisions of the warrants in compliance with ASC 815. There were 133,474 additional warrants issued in the first quarter of 2011 and an additional 143,700 warrants in the first quarter of 2012 as a result of the LPC share issuance triggering the anti-dilution clause in the original warrant agreement. The lattice model accommodates the probability of exercise price adjustment features as outlined in the warrant agreements. We recorded an unrealized gain of $1,360,160 resulting from the change in the fair value of the warrant derivative liability for 2012. Under the terms of the warrant agreement, at any time while the warrant is outstanding, the exercise price per share can be reduced to the price per share of future subsequent equity sales of our common stock or common stock equivalents that is lower than the exercise price per share as stated in the warrant agreement.

 

The estimated fair value was derived using the lattice model with the following weighted-average assumptions:

 

    Year ended  
    December 31,  
    2012     2011  
Value of underlying common stock (per share)   $ 1.25     $ 1.56  
Risk free interest rate     0.24 %     0.32 %
Expected term     3.83 years       4.67 years  
Dividend yield     0       0  
Volatility     72 %     69 %

 

The following table summarizes our activities related to number of warrants used in the derivative liability for the period ended December 31, 2012 and 2011:

 

    2012     2011  
Balance at January 1     1,506,007       1,595,473  
Derivative warrants issued     143,700       133,474  
Derivative warrants exercised     -       (222,940 )
Balance at December 31     1,649,707       1,506,007
XML 73 R64.htm IDEA: XBRL DOCUMENT v2.4.0.6
Commitments and Contingencies (Details Textual) (USD $)
 0 Months Ended 12 Months Ended
Apr. 04, 2012
Dec. 31, 2012
Dec. 31, 2011
Operating Leases, Rent Expense, Net   $ 298,000 $ 215,000
Contingency Damages Claims 1,648,993.58    
Ms Howell [Member]
      
Litigation Settlement, Gross   $ 15,000  
XML 74 R66.htm IDEA: XBRL DOCUMENT v2.4.0.6
Income Taxes (Details 1) (USD $)
 12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Current:    
Federal $ 0 $ 0
State 0 0
Total current 0 0
Deferred:    
Federal 0 0
State 0 0
Total deferred $ 0 $ 0
XML 75 R63.htm IDEA: XBRL DOCUMENT v2.4.0.6
Commitments and Contingencies (Details) (USD $)
Dec. 31, 2012
2013 $ 244,828
2014 263,136
2015 263,136
2016 263,136
2017 263,136
Thereafter 997,264
Total $ 2,294,636
XML 76 R34.htm IDEA: XBRL DOCUMENT v2.4.0.6
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2012
Income Tax Disclosure [Abstract]  
Income loss Before Provision For Income Taxes [Table Text Block]

The components of income (loss) before provision for income taxes consist of the following:

 

  Year Ended December 31, 
  2012  2011 
       
United States $(7,713,822) $(3,006,469)
  $(7,713,822) $(3,006,469)
Income Tax Provision [Table Text Block]

The components of the income tax provision are as follows:

 

  Year Ended December 31, 
  2012  2011 
       
Current:        
Federal $-  $- 
State  -   - 
Total current  -   - 
         
Deferred:        
Federal  -   - 
State  -   - 
Total deferred  -   - 
Reconciliation Of Income Tax [Table Text Block]

The reconciliation of income tax attributable to operations computed at the U.S. Federal statutory income tax rate of 35% to income tax expense is as follows:

 

    Year Ended December 31,  
    2012     2011  
Statutory Federal tax rate   $ (2,699,838 )   $ (1,052,264 )
Valuation allowance     2,789,646       3,729,905  
State income taxes, net of Federal benefit     (443,236 )     (172,752 )
Change in state income tax rate     823,665       -  
Change in Warrant Derivative Liability     (554,211 )     (2,598,646 )
Nondeductible meals & entertainment expense     83,974       93,757  
                 
    $ -     $ -  

 
Deferred Tax [Table Text Block]

Deferred tax components are as follows:

 

    At December 31,  
    2012     2011  
             
Deferred tax assets:                
Current deferred tax assets                
Accrued liability for vacation   $ 75,442     $ 78,972  
Bad debt reserve     642,546       540,462  
Charitable contributions carrforward     19,686       14,835  
Inventory reserve     456,026       362,399  
Restricted stock compensation     94,212       266,957  
Total current deferred tax assets     1,287,912       1,263,625  
Valuation Allowance     (1,287,912 )     (1,263,625 )
                 
Net current deferred tax assets     -       -  
                 
Noncurrent deferred tax assets                
Net operating loss carryovers     11,963,305       9,673,993  
Stock warrants     139,549       -  
Stock option compensation     1,023,192       749,755  
Total noncurrent deferred tax assets     13,126,046       10,423,748  
Valuation allowance     (13,172,543 )     (10,407,184 )
                 
Net noncurrent deferred tax assets     (46,497 )     16,564  
                 
Deferred tax liabilities:                
Goodwill Amortization     (11,346 )     (3,782 )
Depreciation     31,055       (31,037 )
Amortization     26,788       18,255  
                 
Total deferred tax liabilities     46,497       (16,564 )
                 
Net deferred tax assets   $ -     $ -

 
XML 77 R51.htm IDEA: XBRL DOCUMENT v2.4.0.6
Accrued Liabilities (Details) (USD $)
Dec. 31, 2012
Dec. 31, 2011
Acquisition contingent liability $ 91,740 $ 450,166
Accrued stock compensation 218,850 608,933
Wages/commissions payable 1,013,909 1,289,827
Other accrued expenses 1,075,591 1,413,285
Accrued Liabilities Current $ 2,400,090 $ 3,762,211
XML 78 R21.htm IDEA: XBRL DOCUMENT v2.4.0.6
Related Party Transactions
 12 Months Ended
Dec. 31, 2012
Related Party Transactions [Abstract]  
Related Party Transactions Disclosure [Text Block]
(15) Related Party Transactions

 

Guy Cook, our President and Chief Executive Officer, serves as a board member of West Coast Tissue Services (“WCTS”) and formerly served as a director for American Donor Services (“ADS”). Mr. Cook has not received any compensation for his board service for either entity. Mitchell Godfrey, a director, is on the board of ADS and also serves as secretary and treasurer for ADS. Mr. Godfrey received $5,000 for his service to ADS in 2012 and no compensation from ADS in 2011. Mr. Cook’s spouse performed bookkeeping and accounting services for ADS in 2011, but she received no compensation for her services. Mr. Cook’s spouse is also employed by Bacterin as the Director of Human Resources.

 

ADS and WCTS recover tissue from donors.  We reimburse them for their recovery fees, which are comprised primarily of labor costs. The approximate aggregate amount of all transactions with WCTS was $510,500 for 2011 and $525,900 for 2012, and the approximate aggregate amount of all transactions with ADS was $1,765,908 for 2011 and $1,472,949 for 2012. These relationships benefit us, and thus Msrs. Cook and Godfrey, as these entities provide us with donors, thus insuring that we have a pipeline of current and future donors, which is necessary to our success. As of December 31, 2012, we had an accounts payable balance of $418,922 to American Donor Services.

 

On June 27, 2012, the Board of Directors granted a waiver of certain provisions of the Company’s Code of Conduct to allow an entity controlled by two of the CEO’s adult children to become a distributor of the Company’s products.  This entity acquired inventory from Allograft Tissue Management, a non-affiliated distributor that had previously acquired inventory from the Company.  The affiliated distributor, Silver Forest Fund, LP, exchanged products initially purchased from the non-affiliated distributor for different Bacterin products of equivalent value. Other than product exchanges and payment of amounts owed by the non-affiliated distributor, there have been no other direct transactions between Bacterin and the affiliated distributor. Mr. Cook pledged 1,850,000 of his shares of Bacterin stock as collateral for loans made to the affiliated distributor by independent third parties.
XML 79 R26.htm IDEA: XBRL DOCUMENT v2.4.0.6
Inventories (Tables)
 12 Months Ended
Dec. 31, 2012
Inventory Disclosure [Abstract]  
Schedule Of Inventory [Table Text Block]

Inventories consist of the following:

 

    December 31,  
    2012       2011  
Current inventories                
Raw materials   $ 1,919,250     $ 1,612,901  
Work in process     4,991,032       2,586,047  
Finished goods     7,350,332       5,107,400  
      14,260,614       9,306,348  
Reserve for obsolescence     (1,119,193 )     (826,638 )
Current inventories, total   $ 13,141,421     $ 8,479,710  
Non-current inventories                
Finished goods   $ 1,238,225     $ 920,542  
Non-current inventories, total   $ 1,238,225     $ 920,542  
Total inventories   $ 14,379,646     $ 9,400,252

 
XML 80 R49.htm IDEA: XBRL DOCUMENT v2.4.0.6
Property and Equipment, Net (Details Textual) (USD $)
 12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Cost of Property Repairs and Maintenance $ 287,811 $ 109,171
Depreciation 707,971 701,748
Equipment [Member]
    
Capital Leased Assets, Gross 549,604  
Capital Leases, Lessee Balance Sheet, Assets by Major Class, Accumulated Depreciation $ 66,886  
XML 81 R41.htm IDEA: XBRL DOCUMENT v2.4.0.6
Business Description and Summary of Significant Accounting Policies (Details Textual) (USD $)
 12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Estimable useful lives 15 years  
Advertising Expense $ 51,000 $ 81,000
Number of anti-dilutive shares 5,266,535 5,008,670
Discount Of Estimated Payments 16,800,000  
Discount Of Estimated Payments Interest Rate 16.70%  
Royalty Revenue Description The Company also receives royalty revenue from third parties related to licensing agreements. The Company has royalty agreements with Nufix, RyMed and Bard Access Systems. Revenue under these agreements represented less than 1% of total revenue for 2012 and 2011.  
Future Royalty Liability $ 13,800,000  
Building [Member]
    
Property, Plant and Equipment, Useful Life 30 years  
Geographic Concentration Risk [Member]
    
Sales Revenue, Goods, Net, Percentage 97.00% 98.00%
Customer Concentration Risk [Member]
    
Sales Revenue, Goods, Net, Percentage 5.00% 6.00%
Accounts Receivable Percentage 22.00% 21.00%
XML 82 R5.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Changes in Stockholders' Equity (Deficit) (USD $)
Stock Grants [Member]
Common Stock [Member]
Stock Grants [Member]
Additional Paid-In Capital [Member]
Stock Grants [Member]
Retained Earnings [Member]
Stock Grants [Member]
Common Stock [Member]
Private Placement [Member]
Common Stock [Member]
Additional Paid-In Capital [Member]
Private Placement [Member]
Additional Paid-In Capital [Member]
Retained Earnings [Member]
Private Placement [Member]
Retained Earnings [Member]
Private Placement [Member]
Total
Balance at Dec. 31, 2010           $ 37   $ 36,325,976   $ (36,945,257)   $ (619,244)
Balance (in shares) at Dec. 31, 2010           36,994,715            
Issuance of common stock, options and warrants:                        
Stock issued 0 548,261 0 548,261 1   2,974,618   0   2,974,619  
Stock issued (in shares) 230,499       939,377              
Exercise of warrants           1   1,358,459   0   1,358,460
Exercise of warrants (in shares)           977,679            
Stock-based compensation           0   2,007,467   0   2,007,467
Stock-based compensation (in shares)           538,500            
Exercise of options           1   1,010,563   0   1,010,564
Exercise of options (in shares)           775,833           775,833
Debt discount - WTI           0   227,388   0   227,388
Acquisition of RMS           0   1,000,000   0   1,000,000
Acquisition of RMS (in shares)           384,615            
Net loss           0   0   (3,006,469)   (3,006,469)
Ending Balance at Dec. 31, 2011           40   45,452,732   (39,951,726)   5,501,046
Ending Balance (in shares) at Dec. 31, 2011           40,841,218            
Issuance of common stock, options and warrants:                        
Stock issued         2   3,879,744   0   3,879,746  
Stock issued (in shares)         1,472,537              
Exercise of warrants           0   0   0   0
Exercise of warrants (in shares)           129,972            
Issuance of warrants           0   563,357   0   563,357
Stock-based compensation           1   1,956,054   0   1,956,055
Stock-based compensation (in shares)           394,668            
Exercise of options           0   46,003   0   46,003
Exercise of options (in shares)           39,375           39,375
Net loss           0   0   (7,713,822)   (7,713,822)
Ending Balance at Dec. 31, 2012           $ 43   $ 51,897,890   $ (47,665,548)   $ 4,232,385
Ending Balance (in shares) at Dec. 31, 2012           42,877,770            
XML 83 R10.htm IDEA: XBRL DOCUMENT v2.4.0.6
Inventories
 12 Months Ended
Dec. 31, 2012
Inventory Disclosure [Abstract]  
Inventory Disclosure [Text Block]

(4)           Inventories

 

Inventories consist of the following:

 

    December 31,  
    2012       2011  
Current inventories                
Raw materials   $ 1,919,250     $ 1,612,901  
Work in process     4,991,032       2,586,047  
Finished goods     7,350,332       5,107,400  
      14,260,614       9,306,348  
Reserve for obsolescence     (1,119,193 )     (826,638 )
Current inventories, total   $ 13,141,421     $ 8,479,710  
Non-current inventories                
Finished goods   $ 1,238,225     $ 920,542  
Non-current inventories, total   $ 1,238,225     $ 920,542  
Total inventories   $ 14,379,646     $ 9,400,252

 
XML 84 R58.htm IDEA: XBRL DOCUMENT v2.4.0.6
Stock-Based Compensation (Details Textual) (USD $)
 12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized 9,000,000  
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant 1,559,898  
Granted,Weighted Average Fair Value at Grant Date $ 1.03 $ 1.39
Stock Options [Member]
    
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate 1.20%  
Share Based Compensation Arrangement By Share Based Payment Award FairValue Assumptions Weighted Average Expected Term 6 years 8 months 12 days  
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Weighted Average Volatility Rate 66.00%  
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate 0.00% 0.00%
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Total Intrinsic Value $ 39,375  
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value 473,416  
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value 473,416  
ShareBased Compensation Arrangements By Share Based Payment Award Options Unvested Options 2,701,234  
Granted,Weighted Average Fair Value at Grant Date $ 1.18  
Restricted Stock [Member]
    
Allocated Share-based Compensation Expense 427,787 1,675,008
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Minimum Vesting Period 3 years  
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Maximum Vesting Period 5 years  
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Stock Options $ 562,622  
XML 85 R69.htm IDEA: XBRL DOCUMENT v2.4.0.6
Income Taxes (Details Textual) (USD $)
 12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Valuation Allowance, Deferred Tax Asset, Change in Amount $ 2,789,646 $ 2,041,543
Operating Loss Carryforwards 29,360,685 22,069,461
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate 35.00%  
Operating Loss Carryforwards, Expiration Dates Federal net operating loss carryovers expire at various dates between 2024 and 2032, while state net operating loss carryovers expire between 2024 and 2032.  
Income Tax Examination, Penalties and Interest Expense $ 0 $ 0
Operating Loss Carryforwards, Limitations on Use Events which cause limitations in the amount of net operating losses that the Company may utilize in any one year include, but are not limited to, a cumulative ownership change of more than 50%, as defined, over a three year period.  
XML 86 R27.htm IDEA: XBRL DOCUMENT v2.4.0.6
Property and Equipment, Net (Tables)
 12 Months Ended
Dec. 31, 2012
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment [Table Text Block]

Property and equipment, net are as follows:

 

  December 31, 
  2012  2011 
Buildings $1,653,263  $1,653,263 
Equipment  5,172,523   3,597,471 
Computer equipment  312,650   392,375 
Computer software  392,206   228,054 
Furniture and fixtures  170,118   171,418 
Leasehold improvements  1,793,756   1,357,218 
Vehicles  78,306   68,306 
Total cost  9,572,822   7,468,105 
Less: accumulated depreciation  (4,337,955)  (3,693,965)
  $5,234,867  $3,774,140
XML 87 FilingSummary.xml IDEA: XBRL DOCUMENT 2.4.0.6 Html 141 379 1 false 49 0 false 4 false false R1.htm 001 - Document - Document And Entity Information Sheet http://www.bacterin.com/role/DocumentAndEntityInformation Document And Entity Information true false R2.htm 002 - Statement - Consolidated Balance Sheets Sheet http://www.bacterin.com/role/ConsolidatedBalanceSheets Consolidated Balance Sheets false false R3.htm 003 - Statement - Consolidated Balance Sheets [Parenthetical] Sheet http://www.bacterin.com/role/ConsolidatedBalanceSheetsParenthetical Consolidated Balance Sheets [Parenthetical] false false R4.htm 004 - Statement - Consolidated Statements of Operations Sheet http://www.bacterin.com/role/ConsolidatedStatementsOfOperations Consolidated Statements of Operations false false R5.htm 005 - Statement - Consolidated Statements of Changes in Stockholders' Equity (Deficit) Sheet http://www.bacterin.com/role/ConsolidatedStatementsOfChangesInStockholdersEquityDeficit Consolidated Statements of Changes in Stockholders' Equity (Deficit) false false R6.htm 006 - Statement - Consolidated Statements of Cash Flows Sheet http://www.bacterin.com/role/ConsolidatedStatementsOfCashFlows Consolidated Statements of Cash Flows false false R7.htm 007 - Disclosure - Business Description and Summary of Significant Accounting Policies Sheet http://www.bacterin.com/role/BusinessDescriptionAndSummaryOfSignificantAccountingPolicies Business Description and Summary of Significant Accounting Policies false false R8.htm 008 - Disclosure - Equity Sheet http://www.bacterin.com/role/Equity Equity false false R9.htm 009 - Disclosure - Acquisition Sheet http://www.bacterin.com/role/Acquisition Acquisition false false R10.htm 010 - Disclosure - Inventories Sheet http://www.bacterin.com/role/Inventories Inventories false false R11.htm 011 - Disclosure - Property and Equipment, Net Sheet http://www.bacterin.com/role/PropertyAndEquipmentNet Property and Equipment, Net false false R12.htm 012 - Disclosure - Intangible Assets Sheet http://www.bacterin.com/role/IntangibleAssets Intangible Assets false false R13.htm 013 - Disclosure - Accrued Liabilities Sheet http://www.bacterin.com/role/AccruedLiabilities Accrued Liabilities false false R14.htm 014 - Disclosure - Long-term Debt Sheet http://www.bacterin.com/role/LongtermDebt Long-term Debt false false R15.htm 015 - Disclosure - Stock-Based Compensation Sheet http://www.bacterin.com/role/StockbasedCompensation Stock-Based Compensation false false R16.htm 016 - Disclosure - Warrants Sheet http://www.bacterin.com/role/Warrants Warrants false false R17.htm 017 - Disclosure - Commitments and Contingencies Sheet http://www.bacterin.com/role/CommitmentsAndContingencies Commitments and Contingencies false false R18.htm 018 - Disclosure - Income Taxes Sheet http://www.bacterin.com/role/IncomeTaxes Income Taxes false false R19.htm 019 - Disclosure - Employee Benefit Plans Sheet http://www.bacterin.com/role/EmployeeBenefitPlans Employee Benefit Plans false false R20.htm 020 - Disclosure - Supplemental Disclosure of Cash Flow Information Sheet http://www.bacterin.com/role/SupplementalDisclosureOfCashFlowInformation Supplemental Disclosure of Cash Flow Information false false R21.htm 021 - Disclosure - Related Party Transactions Sheet http://www.bacterin.com/role/RelatedPartyTransactions Related Party Transactions false false R22.htm 022 - Disclosure - Subsequent Events Sheet http://www.bacterin.com/role/SubsequentEvents Subsequent Events false false R23.htm 023 - Disclosure - Business Description and Summary of Significant Accounting Policies (Policies) Sheet http://www.bacterin.com/role/BusinessDescriptionAndSummaryOfSignificantAccountingPoliciesPolicies Business Description and Summary of Significant Accounting Policies (Policies) false false R24.htm 024 - Disclosure - Business Description and Summary of Significant Accounting Policies (Tables) Sheet http://www.bacterin.com/role/BusinessDescriptionAndSummaryOfSignificantAccountingPoliciesTables Business Description and Summary of Significant Accounting Policies (Tables) false false R25.htm 025 - Disclosure - Acquisition (Tables) Sheet http://www.bacterin.com/role/AcquisitionTables Acquisition (Tables) false false R26.htm 026 - Disclosure - Inventories (Tables) Sheet http://www.bacterin.com/role/InventoriesTables Inventories (Tables) false false R27.htm 027 - Disclosure - Property and Equipment, Net (Tables) Sheet http://www.bacterin.com/role/PropertyAndEquipmentNetTables Property and Equipment, Net (Tables) false false R28.htm 028 - Disclosure - Intangible Assets (Tables) Sheet http://www.bacterin.com/role/IntangibleAssetsTables Intangible Assets (Tables) false false R29.htm 029 - Disclosure - Accrued Liabilities (Tables) Sheet http://www.bacterin.com/role/AccruedLiabilitiesTables Accrued Liabilities (Tables) false false R30.htm 030 - Disclosure - Long-term Debt (Tables) Sheet http://www.bacterin.com/role/LongtermDebtTables Long-term Debt (Tables) false false R31.htm 031 - Disclosure - Stock-Based Compensation (Tables) Sheet http://www.bacterin.com/role/StockbasedCompensationTables Stock-Based Compensation (Tables) false false R32.htm 032 - Disclosure - Warrants (Tables) Sheet http://www.bacterin.com/role/WarrantsTables Warrants (Tables) false false R33.htm 033 - Disclosure - Commitments and Contingencies (Tables) Sheet http://www.bacterin.com/role/CommitmentsAndContingenciesTables Commitments and Contingencies (Tables) false false R34.htm 034 - Disclosure - Income Taxes (Tables) Sheet http://www.bacterin.com/role/IncomeTaxesTables Income Taxes (Tables) false false R35.htm 035 - Disclosure - Supplemental Disclosure of Cash Flow Information (Tables) Sheet http://www.bacterin.com/role/SupplementalDisclosureOfCashFlowInformationTables Supplemental Disclosure of Cash Flow Information (Tables) false false R36.htm 036 - Disclosure - Business Description and Summary of Significant Accounting Policies (Details) Sheet http://www.bacterin.com/role/BusinessDescriptionAndSummaryOfSignificantAccountingPoliciesDetails Business Description and Summary of Significant Accounting Policies (Details) false false R37.htm 037 - Disclosure - Business Description and Summary of Significant Accounting Policies (Details 1) Sheet http://www.bacterin.com/role/BusinessDescriptionAndSummaryOfSignificantAccountingPoliciesDetails1 Business Description and Summary of Significant Accounting Policies (Details 1) false false R38.htm 038 - Disclosure - Business Description and Summary of Significant Accounting Policies (Details 2) Sheet http://www.bacterin.com/role/BusinessDescriptionAndSummaryOfSignificantAccountingPoliciesDetails2 Business Description and Summary of Significant Accounting Policies (Details 2) false false R39.htm 039 - Disclosure - Business Description and Summary of Significant Accounting Policies (Details 3) Sheet http://www.bacterin.com/role/BusinessDescriptionAndSummaryOfSignificantAccountingPoliciesDetails3 Business Description and Summary of Significant Accounting Policies (Details 3) false false R40.htm 040 - Disclosure - Business Description and Summary of Significant Accounting Policies (Details 4) Sheet http://www.bacterin.com/role/BusinessDescriptionAndSummaryOfSignificantAccountingPoliciesDetails4 Business Description and Summary of Significant Accounting Policies (Details 4) false false R41.htm 041 - Disclosure - Business Description and Summary of Significant Accounting Policies (Details Textual) Sheet http://www.bacterin.com/role/BusinessDescriptionAndSummaryOfSignificantAccountingPoliciesDetailsTextual Business Description and Summary of Significant Accounting Policies (Details Textual) false false R42.htm 042 - Disclosure - Equity (Details Textual) Sheet http://www.bacterin.com/role/Equitydetailstextual Equity (Details Textual) false false R43.htm 043 - Disclosure - Acquisition (Details) Sheet http://www.bacterin.com/role/AcquisitionDetails Acquisition (Details) false false R44.htm 044 - Disclosure - Acquisition (Details 1) Sheet http://www.bacterin.com/role/AcquisitionDetails1 Acquisition (Details 1) false false R45.htm 045 - Disclosure - Acquisition (Details 2) Sheet http://www.bacterin.com/role/AcquisitionDetails2 Acquisition (Details 2) false false R46.htm 046 - Disclosure - Acquisition (Details Textual) Sheet http://www.bacterin.com/role/AcquisitionDetailsTextual Acquisition (Details Textual) false false R47.htm 047 - Disclosure - Inventories (Details) Sheet http://www.bacterin.com/role/InventoriesDetails Inventories (Details) false false R48.htm 048 - Disclosure - Property and Equipment, Net (Details) Sheet http://www.bacterin.com/role/PropertyAndEquipmentNetDetails Property and Equipment, Net (Details) false false R49.htm 049 - Disclosure - Property and Equipment, Net (Details Textual) Sheet http://www.bacterin.com/role/PropertyAndEquipmentNetDetailsTextual Property and Equipment, Net (Details Textual) false false R50.htm 050 - Disclosure - Intangible Assets (Details) Sheet http://www.bacterin.com/role/IntangibleAssetsDetails Intangible Assets (Details) false false R51.htm 051 - Disclosure - Accrued Liabilities (Details) Sheet http://www.bacterin.com/role/AccruedLiabilitiesDetails Accrued Liabilities (Details) false false R52.htm 052 - Disclosure - Long-term Debt (Details) Sheet http://www.bacterin.com/role/LongtermDebtDetails Long-term Debt (Details) false false R53.htm 053 - Disclosure - Long-term Debt (Details 1) Sheet http://www.bacterin.com/role/LongtermDebtDetails1 Long-term Debt (Details 1) false false R54.htm 054 - Disclosure - Long-term Debt (Details 2) Sheet http://www.bacterin.com/role/LongTermDebtDetails2 Long-term Debt (Details 2) false false R55.htm 055 - Disclosure - Long-term Debt (Details Textual) Sheet http://www.bacterin.com/role/LongtermDebtDetailsTextual Long-term Debt (Details Textual) false false R56.htm 056 - Disclosure - Stock-Based Compensation (Details) Sheet http://www.bacterin.com/role/StockbasedCompensationDetails Stock-Based Compensation (Details) false false R57.htm 057 - Disclosure - Stock-Based Compensation (Details 1) Sheet http://www.bacterin.com/role/StockbasedCompensationDetails1 Stock-Based Compensation (Details 1) false false R58.htm 058 - Disclosure - Stock-Based Compensation (Details Textual) Sheet http://www.bacterin.com/role/StockbasedCompensationDetailsTextual Stock-Based Compensation (Details Textual) false false R59.htm 059 - Disclosure - Warrants (Details) Sheet http://www.bacterin.com/role/WarrantsDetails Warrants (Details) false false R60.htm 060 - Disclosure - Warrants (Details 1) Sheet http://www.bacterin.com/role/WarrantsDetails1 Warrants (Details 1) false false R61.htm 061 - Disclosure - Warrants (Details 2) Sheet http://www.bacterin.com/role/WarrantsDetails2 Warrants (Details 2) false false R62.htm 062 - Disclosure - Warrants (Details Textual) Sheet http://www.bacterin.com/role/WarrantsDetailsTextual Warrants (Details Textual) false false R63.htm 063 - Disclosure - Commitments and Contingencies (Details) Sheet http://www.bacterin.com/role/CommitmentsAndContingenciesDetails Commitments and Contingencies (Details) false false R64.htm 064 - Disclosure - Commitments and Contingencies (Details Textual) Sheet http://www.bacterin.com/role/CommitmentsAndContingenciesDetailsTextual Commitments and Contingencies (Details Textual) false false R65.htm 065 - Disclosure - Income Taxes (Details) Sheet http://www.bacterin.com/role/IncomeTaxesDetails Income Taxes (Details) false false R66.htm 066 - Disclosure - Income Taxes (Details 1) Sheet http://www.bacterin.com/role/IncomeTaxesDetails1 Income Taxes (Details 1) false false R67.htm 067 - Disclosure - Income Taxes (Details 2) Sheet http://www.bacterin.com/role/IncomeTaxesDetails2 Income Taxes (Details 2) false false R68.htm 068 - Disclosure - Income Taxes (Details 3) Sheet http://www.bacterin.com/role/IncomeTaxesDetails3 Income Taxes (Details 3) false false R69.htm 069 - Disclosure - Income Taxes (Details Textual) Sheet http://www.bacterin.com/role/IncomeTaxesDetailsTextual Income Taxes (Details Textual) false false R70.htm 070 - Disclosure - Employee Benefit Plans (Details Textual) Sheet http://www.bacterin.com/role/EmployeeBenefitPlansDetailsTextual Employee Benefit Plans (Details Textual) false false R71.htm 071 - Disclosure - Supplemental Disclosure of Cash Flow Information (Details) Sheet http://www.bacterin.com/role/SupplementalDisclosureOfCashFlowInformationDetails Supplemental Disclosure of Cash Flow Information (Details) false false R72.htm 072 - Disclosure - Related Party Transactions (Details Textual) Sheet http://www.bacterin.com/role/RelatedPartyTransactionsDetailsTextual Related Party Transactions (Details Textual) false false All Reports Book All Reports Element bone_DeferredTaxAssetsStockWarrantExpense had a mix of decimals attribute values: -3 0. Element us-gaap_DeferredTaxAssetsLiabilitiesNet had a mix of decimals attribute values: -3 0. Element us-gaap_IncomeTaxReconciliationChangeInEnactedTaxRate had a mix of decimals attribute values: -3 0. 'Monetary' elements on report '055 - Disclosure - Long-term Debt (Details Textual)' had a mix of different decimal attribute values. 'Shares' elements on report '058 - Disclosure - Stock-Based Compensation (Details Textual)' had a mix of different decimal attribute values. Process Flow-Through: 002 - Statement - Consolidated Balance Sheets Process Flow-Through: Removing column 'Dec. 31, 2010' Process Flow-Through: 003 - Statement - Consolidated Balance Sheets [Parenthetical] Process Flow-Through: 004 - Statement - Consolidated Statements of Operations Process Flow-Through: 006 - Statement - Consolidated Statements of Cash Flows bone-20121231.xml bone-20121231.xsd bone-20121231_cal.xml bone-20121231_def.xml bone-20121231_lab.xml bone-20121231_pre.xml true true XML 88 R38.htm IDEA: XBRL DOCUMENT v2.4.0.6
Business Description and Summary of Significant Accounting Policies (Details 2) (USD $)
Dec. 31, 2012
Dec. 31, 2011
Warrant derivative liability $ 984,356 $ 2,344,516
Fair Value, Inputs, Level 1 [Member]
    
Warrant derivative liability 0 0
Fair Value, Inputs, Level 2 [Member]
    
Warrant derivative liability 0 0
Fair Value, Inputs, Level 3 [Member]
    
Warrant derivative liability $ 984,356 $ 2,344,516
XML 89 R20.htm IDEA: XBRL DOCUMENT v2.4.0.6
Supplemental Disclosure of Cash Flow Information
 12 Months Ended
Dec. 31, 2012
Supplemental Cash Flow Elements [Abstract]  
Cash Flow, Supplemental Disclosures [Text Block]
(14) Supplemental Disclosure of Cash Flow Information

 

Supplemental cash flow information is as follows:

 

    Year ended  
    December 31,  
    2012     2011  
Supplemental disclosure of cash flow information                
Cash paid during the period for:                
Interest   $ 1,873,155     $ 1,039,703  
Income taxes     -       -  
Non-cash activities:                
Non-cash consulting expense   $ 427,787     $ 1,675,008  
Acquisition contingent consideration   $ -     $ 450,166  
Warrants issued with debt   $ 220,872     $ 227,388  
Issuance of stock for business acquisition   $ -     $ 1,000,000  
Conversion of accounts payable into common stock   $ -     $ 600,000  
Decrease in warrant derivative liability due to warrant exercises   $ -     $ 968,554  
Capital lease acquisition   $ 350,986     $ 116,263  
Issuance of warrants   $ 220,872     $ -  
Debt discount related to financing   $ 7,341,520     $ -  
Royalty liability related to financing   $ 7,341,520     $ -