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 -Publisher FASB

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Reference 3: http://www.xbrl.org/2003/role/presentationRef

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</LabelSeparator><Level>2</Level><ElementName>us-gaap_IncomeTaxPolicyTextBlock</ElementName><ElementPrefix>us-gaap_</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsCalendarTitle>false</IsCalendarTitle><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><FootnoteIndexer /><Cells><Cell FlagID="0" ContextID="D120701_130630" UnitID=""><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;!--egx--&gt;&lt;p style='text-align:justify;margin:0cm 0cm 0pt'&gt;&lt;u&gt;Provision for Taxes&lt;/u&gt;&lt;/p&gt; &lt;p style='text-align:justify;margin:0cm 0cm 0pt'&gt;Income taxes are provided based upon the liability method of accounting pursuant to FASB ASC Topic 740 &lt;i&gt;Income Taxes&lt;/i&gt; (&amp;#147;ASC 740&amp;#148;).&amp;nbsp;&amp;nbsp;Under this approach, deferred income taxes are recorded to reflect the tax consequences in future years of differences between the tax basis of assets and liabilities and their financial reporting amounts at each year-end.&amp;nbsp;&amp;nbsp;A valuation allowance is recorded against deferred tax assets if management does not believe the Company has met the &amp;#147;more likely than not&amp;#148; standard imposed by ASC 740 to allow recognition of such an asset.&lt;/p&gt; &lt;p style='text-align:justify;margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt; &lt;p style='text-align:justify;margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt; &lt;p style='text-align:justify;margin:0cm 0cm 0pt'&gt;At June 30, 2013, the Company had net deferred tax assets calculated at an expected rate of 25.00% (2012 &amp;#150; 25.80%) of approximately $1,921,000 (2012 - $1,975,000) principally arising from approximate net operating loss carry forward for income tax purposes, which expire in the years 2017 through 2033.&amp;nbsp;&amp;nbsp;As management of the Company cannot determine that it is more likely than not that the Company will realize the benefit of the net deferred tax asset, a valuation allowance equal to the net deferred tax asset has been recorded.&amp;nbsp;&amp;nbsp;The significant components of the deferred tax asset at June 30, 2013 and June 30, 2012 were as follows:&lt;/p&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt; &lt;table cellspacing="0" cellpadding="0" width="100%" border="0" style='width:100%'&gt; &lt;tr&gt; &lt;td valign="bottom" style='border-top:#f0f0f0;border-right:#f0f0f0;border-bottom:#f0f0f0;padding-bottom:1.5pt;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;background-color:transparent'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp; &lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" style='border-top:#f0f0f0;border-right:#f0f0f0;border-bottom:#f0f0f0;padding-bottom:1.5pt;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;background-color:transparent'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" colspan="2" style='border-top:#f0f0f0;border-right:#f0f0f0;border-bottom:black 1.5pt solid;padding-bottom:1.5pt;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;background-color:transparent'&gt; &lt;p align="center" style='text-align:center;margin:0cm 0cm 0pt'&gt;June 30, 2013&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" style='border-top:#f0f0f0;border-right:#f0f0f0;border-bottom:#f0f0f0;padding-bottom:1.5pt;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;background-color:transparent'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" style='border-top:#f0f0f0;border-right:#f0f0f0;border-bottom:#f0f0f0;padding-bottom:1.5pt;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;background-color:transparent'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" colspan="2" style='border-top:#f0f0f0;border-right:#f0f0f0;border-bottom:black 1.5pt solid;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;background-color:transparent'&gt; &lt;p align="center" style='text-align:center;margin:0cm 0cm 0pt'&gt;June 30, 2012&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" style='border-top:#f0f0f0;border-right:#f0f0f0;border-bottom:#f0f0f0;padding-bottom:1.5pt;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;background-color:transparent'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign="bottom" style='border-top:#f0f0f0;border-right:#f0f0f0;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;background-color:transparent'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp; &lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" style='border-top:#f0f0f0;border-right:#f0f0f0;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;background-color:transparent'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" colspan="2" style='border-top:#f0f0f0;border-right:#f0f0f0;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;background-color:transparent'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" style='border-top:#f0f0f0;border-right:#f0f0f0;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;background-color:transparent'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" style='border-top:#f0f0f0;border-right:#f0f0f0;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;background-color:transparent'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" colspan="2" style='border-top:#f0f0f0;border-right:#f0f0f0;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;background-color:transparent'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" style='border-top:#f0f0f0;border-right:#f0f0f0;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;background-color:transparent'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign="bottom" width="72%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:#f0f0f0;padding-bottom:3pt;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:72%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;Net operating loss carry forward&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:#f0f0f0;padding-bottom:3pt;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p align="right" style='text-align:right;margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:black 2.25pt double;padding-bottom:3pt;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;$&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="11%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:black 2.25pt double;padding-bottom:3pt;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:11%'&gt; &lt;p align="right" style='text-align:right;margin:0cm 0cm 0pt'&gt;7,685,000&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:#f0f0f0;padding-bottom:3pt;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:#f0f0f0;padding-bottom:3pt;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p align="right" style='text-align:right;margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:black 2.25pt double;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;$&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="11%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:black 2.25pt double;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:11%'&gt; &lt;p align="right" style='text-align:right;margin:0cm 0cm 0pt'&gt;7,654,000&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:#f0f0f0;padding-bottom:3pt;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign="bottom" width="72%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:white;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:72%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp; &lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:white;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:white;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="11%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:white;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:11%'&gt; &lt;p align="right" style='text-align:right;margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:white;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:white;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:white;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="11%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:white;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:11%'&gt; &lt;p align="right" style='text-align:right;margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:white;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign="bottom" width="72%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:72%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;Deferred tax asset&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p align="right" style='text-align:right;margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;$&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="11%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:11%'&gt; &lt;p align="right" style='text-align:right;margin:0cm 0cm 0pt'&gt;1,921,000&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p align="right" style='text-align:right;margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;$&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="11%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:11%'&gt; &lt;p align="right" style='text-align:right;margin:0cm 0cm 0pt'&gt;1,975,000&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign="bottom" width="72%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:white;border-bottom:#f0f0f0;padding-bottom:1.5pt;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:72%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;Deferred tax asset valuation allowance&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:white;border-bottom:#f0f0f0;padding-bottom:1.5pt;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p align="right" style='text-align:right;margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:white;border-bottom:black 1.5pt solid;padding-bottom:1.5pt;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="11%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:white;border-bottom:black 1.5pt solid;padding-bottom:1.5pt;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:11%'&gt; &lt;p align="right" style='text-align:right;margin:0cm 0cm 0pt'&gt;(1,921,000&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:white;border-bottom:#f0f0f0;padding-bottom:1.5pt;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;)&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:white;border-bottom:#f0f0f0;padding-bottom:1.5pt;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p align="right" style='text-align:right;margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:white;border-bottom:black 1.5pt solid;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="11%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:white;border-bottom:black 1.5pt solid;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:11%'&gt; &lt;p align="right" style='text-align:right;margin:0cm 0cm 0pt'&gt;(1,975,000&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:white;border-bottom:#f0f0f0;padding-bottom:1.5pt;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;)&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign="bottom" width="72%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:#f0f0f0;padding-bottom:3pt;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:72%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;Net deferred tax asset&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:#f0f0f0;padding-bottom:3pt;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:black 2.25pt double;padding-bottom:3pt;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;$&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="11%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:black 2.25pt double;padding-bottom:3pt;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:11%'&gt; &lt;p align="right" style='text-align:right;margin:0cm 0cm 0pt'&gt;-&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:#f0f0f0;padding-bottom:3pt;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:#f0f0f0;padding-bottom:3pt;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:black 2.25pt double;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;$&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="11%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:black 2.25pt double;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:11%'&gt; &lt;p align="right" style='text-align:right;margin:0cm 0cm 0pt'&gt;-&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:#f0f0f0;padding-bottom:3pt;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;The change in the allowance account from June 30, 2012 to June 30, 2013 was approximately $54,000 (2012 - $121,000)..&lt;/p&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt; &lt;table cellspacing="0" cellpadding="0" width="100%" border="0" style='width:100%'&gt; &lt;tr&gt; &lt;td valign="bottom" style='border-top:#f0f0f0;border-right:#f0f0f0;border-bottom:#f0f0f0;padding-bottom:1.5pt;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;background-color:transparent'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp; &lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" style='border-top:#f0f0f0;border-right:#f0f0f0;border-bottom:#f0f0f0;padding-bottom:1.5pt;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;background-color:transparent'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" colspan="2" style='border-top:#f0f0f0;border-right:#f0f0f0;border-bottom:black 1.5pt solid;padding-bottom:1.5pt;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;background-color:transparent'&gt; &lt;p align="center" style='text-align:center;margin:0cm 0cm 0pt'&gt;June 30, 2013&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" style='border-top:#f0f0f0;border-right:#f0f0f0;border-bottom:#f0f0f0;padding-bottom:1.5pt;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;background-color:transparent'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" style='border-top:#f0f0f0;border-right:#f0f0f0;border-bottom:#f0f0f0;padding-bottom:1.5pt;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;background-color:transparent'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" colspan="2" style='border-top:#f0f0f0;border-right:#f0f0f0;border-bottom:black 1.5pt solid;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;background-color:transparent'&gt; &lt;p align="center" style='text-align:center;margin:0cm 0cm 0pt'&gt;June 30, 2012&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" style='border-top:#f0f0f0;border-right:#f0f0f0;border-bottom:#f0f0f0;padding-bottom:1.5pt;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;background-color:transparent'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign="bottom" width="72%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:#f0f0f0;padding-bottom:1.5pt;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:72%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;Statutory rate&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:#f0f0f0;padding-bottom:1.5pt;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p align="right" style='text-align:right;margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:black 1.5pt solid;padding-bottom:1.5pt;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="11%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:black 1.5pt solid;padding-bottom:1.5pt;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:11%'&gt; &lt;p align="right" style='text-align:right;margin:0cm 0cm 0pt'&gt;25.00&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:#f0f0f0;padding-bottom:1.5pt;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;%&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:#f0f0f0;padding-bottom:1.5pt;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p align="right" style='text-align:right;margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:black 1.5pt solid;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="11%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:black 1.5pt solid;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:11%'&gt; &lt;p align="right" style='text-align:right;margin:0cm 0cm 0pt'&gt;25.80&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:#f0f0f0;padding-bottom:1.5pt;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;%&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign="bottom" width="72%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:white;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:72%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp; &lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:white;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:white;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="11%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:white;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:11%'&gt; &lt;p align="right" style='text-align:right;margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:white;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:white;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:white;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="11%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:white;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:11%'&gt; &lt;p align="right" style='text-align:right;margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:white;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign="bottom" width="72%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:72%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;Income taxes recovered at the effective tax rate&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p align="right" style='text-align:right;margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;$&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="11%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:11%'&gt; &lt;p align="right" style='text-align:right;margin:0cm 0cm 0pt'&gt;7,500&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p align="right" style='text-align:right;margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;$&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="11%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:11%'&gt; &lt;p align="right" style='text-align:right;margin:0cm 0cm 0pt'&gt;9,000&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign="bottom" width="72%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:white;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:72%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp; &lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:white;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:white;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="11%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:white;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:11%'&gt; &lt;p align="right" style='text-align:right;margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:white;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:white;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:white;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="11%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:white;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:11%'&gt; &lt;p align="right" style='text-align:right;margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:white;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign="bottom" width="72%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:72%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;Temporary timing differences:&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p align="right" style='text-align:right;margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="11%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:11%'&gt; &lt;p align="right" style='text-align:right;margin:0cm 0cm 0pt'&gt;-&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p align="right" style='text-align:right;margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="11%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:11%'&gt; &lt;p align="right" style='text-align:right;margin:0cm 0cm 0pt'&gt;-&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign="bottom" width="72%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:white;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:72%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;Permanent timing differences:&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:white;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p align="right" style='text-align:right;margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:white;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="11%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:white;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:11%'&gt; &lt;p align="right" style='text-align:right;margin:0cm 0cm 0pt'&gt;-&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:white;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:white;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p align="right" style='text-align:right;margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:white;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="11%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:white;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:11%'&gt; &lt;p align="right" style='text-align:right;margin:0cm 0cm 0pt'&gt;-&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:white;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign="bottom" width="72%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:72%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;Change in tax rate:&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p align="right" style='text-align:right;margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="11%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:11%'&gt; &lt;p align="right" style='text-align:right;margin:0cm 0cm 0pt'&gt;(61,500&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;)&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p align="right" style='text-align:right;margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="11%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:11%'&gt; &lt;p align="right" style='text-align:right;margin:0cm 0cm 0pt'&gt;(130,000&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:#f0f0f0;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;)&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign="bottom" width="72%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:white;border-bottom:#f0f0f0;padding-bottom:1.5pt;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:72%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;Change in valuation allowance:&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:white;border-bottom:#f0f0f0;padding-bottom:1.5pt;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p align="right" style='text-align:right;margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:white;border-bottom:black 1.5pt solid;padding-bottom:1.5pt;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="11%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:white;border-bottom:black 1.5pt solid;padding-bottom:1.5pt;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:11%'&gt; &lt;p align="right" style='text-align:right;margin:0cm 0cm 0pt'&gt;54,000&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:white;border-bottom:#f0f0f0;padding-bottom:1.5pt;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:white;border-bottom:#f0f0f0;padding-bottom:1.5pt;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p align="right" style='text-align:right;margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:white;border-bottom:black 1.5pt solid;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="11%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:white;border-bottom:black 1.5pt solid;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:11%'&gt; &lt;p align="right" style='text-align:right;margin:0cm 0cm 0pt'&gt;121,000&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:white;border-bottom:#f0f0f0;padding-bottom:1.5pt;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign="bottom" width="72%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:#f0f0f0;padding-bottom:3pt;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:72%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;Income tax recovery (expense) recognized in year&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:#f0f0f0;padding-bottom:3pt;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p align="right" style='text-align:right;margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:black 2.25pt double;padding-bottom:3pt;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;$&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="11%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:black 2.25pt double;padding-bottom:3pt;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:11%'&gt; &lt;p align="right" style='text-align:right;margin:0cm 0cm 0pt'&gt;-&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:#f0f0f0;padding-bottom:3pt;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:#f0f0f0;padding-bottom:3pt;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p align="right" style='text-align:right;margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:black 2.25pt double;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;$&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="11%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:black 2.25pt double;padding-bottom:0cm;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:11%'&gt; &lt;p align="right" style='text-align:right;margin:0cm 0cm 0pt'&gt;-&lt;/p&gt;&lt;/td&gt; &lt;td valign="bottom" width="1%" style='border-top:#f0f0f0;border-right:#f0f0f0;background:#cceeff;border-bottom:#f0f0f0;padding-bottom:3pt;padding-top:0cm;padding-left:0cm;border-left:#f0f0f0;padding-right:0cm;width:1%'&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt; &lt;p style='margin:0cm 0cm 0pt'&gt;&amp;nbsp;&lt;/p&gt;</NonNumbericText><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat></Cell></Cells><ElementDataType>nonnum:textBlockItemType</ElementDataType><SimpleDataType>na</SimpleDataType><ElementDefenition>Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef

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Reference 2: http://www.xbrl.org/2003/role/presentationRef

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Reference 3: http://www.xbrl.org/2003/role/presentationRef

 -Publisher FASB

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Reference 4: http://www.xbrl.org/2003/role/presentationRef

 -Publisher FASB

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