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   &lt;div align="left" style="font-size: 10pt; margin-top: 12pt"&gt;&lt;b&gt;2. New Accounting Pronouncements&lt;/b&gt;
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   &lt;div align="left" style="font-size: 10pt; margin-top: 6pt"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;In February&amp;#160;2010, the Financial Accounting Standards Board (FASB)&amp;#160;issued Accounting Standards
   Update (ASC)&amp;#160;No.&amp;#160;2010-09, &lt;i&gt;Subsequent Events (Topic 855) &amp;#8212; Amendments to Certain Recognition and
   Disclosure Requirements, &lt;/i&gt;which stated, among other things, that filers with the SEC are not
   required to disclose the date through which an entity has evaluated subsequent events. The
   guidance was effective upon issuance and did not have a material impact on the Company&amp;#8217;s
   consolidated financial statements.
   &lt;/div&gt;
   &lt;div align="left" style="font-size: 10pt; margin-top: 6pt"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;In January&amp;#160;2010, the FASB issued Accounting Standards Update No.&amp;#160;2010-06, &lt;i&gt;Fair Value
   Measurements and Disclosures (Topic 820) &amp;#8212; Improving Disclosures about Fair Value Instruments,&lt;/i&gt;
   which, among other things, expands disclosures on recurring fair value measurements, including
   activity, transfers and reconciliation of asset and liability classes, using Levels 1, 2 and 3 as
   defined. The guidance also clarifies existing disclosures on levels of disaggregation between such
   classes and input and valuation techniques used to measure recurring and nonrecurring Level 2 or
   Level 3 fair value measurements. This guidance was effective for the Company&amp;#8217;s first quarter
   reporting of 2010, except for the requirement related to purchases, sales, issuances, and
   settlements in the roll forward activity of Level 3 fair value measurements. Those disclosures are
   effective for fiscal years beginning after December&amp;#160;15, 2010, and for interim periods within those
   fiscal years. Adoption of FASB ASU 2010-06 did not have a material effect on the Company&amp;#8217;s
   consolidated financial statements.
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   &lt;div align="left" style="font-size: 10pt; margin-top: 6pt"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;In January&amp;#160;2010, FASB issued Accounting Standards Update No.&amp;#160;2010-02, &lt;i&gt;Consolidation (Topic
   810) &amp;#8212; Accounting and Reporting for Decreases in Ownership of a Subsidiary &amp;#8212; A Scope
   Clarification&lt;/i&gt;, which expands the disclosure requirements about deconsolidation of a subsidiary or
   derecognition of a group of assets. The guidance in this update is effective for periods beginning
   in the first interim or annual reporting period ending on or after December&amp;#160;15, 2009 and thus was
   effective for the Company&amp;#8217;s first quarter reporting in 2010. Adoption of FASB ASU 2010-02 did not
   have a material impact on the Company&amp;#8217;s consolidated financial statements.
   &lt;/div&gt;
   &lt;div align="left" style="font-size: 10pt; margin-top: 6pt"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;In December&amp;#160;2009, FASB issued Accounting Standards Update No.&amp;#160;2009-17, &lt;i&gt;Consolidation (Topic
   810) &amp;#8212; Improvements to Financial Reporting by Enterprises with Variable Interest Entities &lt;/i&gt;to
   incorporate the changes made by FASB Statement No.&amp;#160;167 into the FASB Codification. The guidance in
   this update is effective for periods beginning after November&amp;#160;15, 2009 and thus was effective for
   the Company&amp;#8217;s first quarter reporting in 2010. Adoption of FASB ASU 2009-17 did not have a material
   impact on the Company&amp;#8217;s consolidated financial statements.
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Accounting Principles Board Opinion (APB)
 -Number 28
 -Paragraph 23, 24

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 01
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