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July 31, 2013, the marketable securities of $95,000 consisted of a 5.4% Puerto Rico Commonwealth Government Development Bank Bond,
purchased at par and maturing in August 2019. The bond balance approximates its fair market value, therefore no realized or unrealized
gains or losses have been recorded.&lt;/font&gt;&lt;/p&gt;

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&lt;p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="font: 8pt Times New Roman, Times, Serif"&gt;The
primary objectives of the Company&amp;#146;s investment portfolio are liquidity and safety of principal. Investments are made with
the objective of achieving the highest rate of return consistent with these two objectives. The Company&amp;#146;s investment policy
limits investments to certain types of debt and money market instruments issued by institutions primarily with investment grade
credit ratings and places restrictions on maturities and concentration by type and issuer.&lt;/font&gt;&lt;/p&gt;

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&lt;p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;font style="font: 8pt Times New Roman, Times, Serif"&gt;The
Company reviews its available-for-sale securities for other-than-temporary declines in fair value below their cost basis on a
quarterly basis and whenever events or changes in circumstances indicate that the cost basis of an asset may not be recoverable.
This evaluation is based on a number of factors including, the length of time and extent to which the fair value has been less
than its cost basis and adverse conditions specifically related to the security including any changes to the rating of the security
by a rating agency. As of July 31, 2013, the Company believes that the cost basis for its available-for-sale securities is recoverable
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