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            &lt;b&gt;3.&lt;/b&gt;
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              &lt;b&gt;Recent Accounting Pronouncements&lt;/b&gt;
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          &lt;td width="5%"&gt;&amp;#160;&lt;/td&gt;
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            &lt;p align="justify" style="font-family: times new roman,times,serif; font-size: 10pt; margin: inherit;"&gt;Management has reviewed recent accounting pronouncements issued by the FASB (including its Emerging Issues Task Force), the AICPA, and the SEC and they do not or are not believed by management to have a material impact on the Company's present or future financial statements&lt;/p&gt;
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