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&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;b&gt;Note 10 - Recent accounting pronouncements&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 12pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&amp;#160;&lt;/p&gt;

&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;There are no new pronouncements that
have current application to the Company, or may be applicable to the Company's future financial reporting.&lt;/p&gt;



&lt;p style="text-align: left; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif"&gt;&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>The entire disclosure for a new accounting pronouncement that has been issued but not yet adopted.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef

 -Publisher FASB

 -Name Accounting Standards Codification

 -Topic 250

 -SubTopic 10

 -Section S99

 -Paragraph 5

 -Subparagraph (SAB TOPIC 11.M)

 -URI http://asc.fasb.org/extlink&amp;oid=6369664&amp;loc=d3e31137-122693



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

 -Publisher SEC

 -Name Staff Accounting Bulletin (SAB)

 -Number Topic 11

 -Section M



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