Report Preview Details

0001104659-12-009772.txt : 20120214 0001104659-12-009772.hdr.sgml : 20120214 20120214163340 ACCESSION NUMBER: 0001104659-12-009772 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 11 CONFORMED PERIOD OF REPORT: 20111231 FILED AS OF DATE: 20120214 DATE AS OF CHANGE: 20120214 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TEAMSTAFF INC CENTRAL INDEX KEY: 0000785557 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-HELP SUPPLY SERVICES [7363] IRS NUMBER: 221899798 STATE OF INCORPORATION: NJ FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 000-18492 FILM NUMBER: 12610617 BUSINESS ADDRESS: STREET 1: 300 ATRIUM DRIVE CITY: SOUTH PLAINFIELD STATE: NJ ZIP: 08873 BUSINESS PHONE: 7327481700 MAIL ADDRESS: STREET 1: 300 ATRIUM DRIVE CITY: SOUTH PLAINFIELD STATE: NJ ZIP: 08873 FORMER COMPANY: FORMER CONFORMED NAME: DIGITAL SOLUTIONS INC DATE OF NAME CHANGE: 19920703 10-Q 1 a12-2662_110q.htm 10-Q

Table of Contents

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

x	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended December 31, 2011

o	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission File No. 0-18492

TEAMSTAFF, INC.

(Exact name of registrant as specified in its charter)

New Jersey		22-1899798
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)

1776 Peachtree Street, NW
Atlanta, Georgia		30309
(Address of principal executive offices)		(Zip Code)

(866) 952-1647

(Registrant’s telephone number, including area code)

(Former name, former address and former fiscal year, if changed since last report)

Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. YES x NO o

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes x No £

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer o		Accelerated filer o

Non-accelerated filer o		Smaller Reporting Company x
(Do not check if a smaller reporting company)

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). YES £ NO x

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date: 6,074,933 shares of Common Stock, par value $.001 per share, were outstanding as of February 9, 2011.

Table of Contents

TEAMSTAFF, INC.

FORM 10-Q

For the Quarter Ended December 31, 2011

Table of Contents

	Page No.
Part I — Financial Information
Item 1. Financial Statements
Consolidated Balance Sheets as of December 31, 2011 (Unaudited) and September 30, 2011	3
Consolidated Statements of Operations for the three months ended December 31, 2011 and 2010 (Unaudited)	5

Consolidated Statements of Cash Flows for the three months ended December 31, 2011 and 2010 (Unaudited)	6
Notes to Consolidated Financial Statements (Unaudited)	7
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations	17
Item 3. Quantitative and Qualitative Disclosures about Market Risk	27
Item 4. Controls and Procedures	28
Part II — Other Information	28
Item 1. Legal Proceedings	28
Item 1A. Risk Factors	28
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds	29
Item 3. Defaults Upon Senior Securities	29
Item 4. Mine Safety Disclosures	29
Item 5. Other Information	29
Item 6. Exhibits	29
Signatures	30

Table of Contents

TEAMSTAFF, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(AMOUNTS IN THOUSANDS)

	(unaudited)
	December 31,			September 30,
	2011			2011
ASSETS

CURRENT ASSETS:
Cash and cash equivalents	$	477		$	763
Accounts receivable, net of allowance for doubtful accounts of $0 as of December 31, 2011 and September 30, 2011	12,423			11,112
Prepaid workers’ compensation	513			513
Other current assets	184			184

Total current assets	13,597			12,572

EQUIPMENT AND IMPROVEMENTS:
Furniture and equipment	177			177
Computer equipment	106			102
Computer software	301			260
Leasehold improvements	10			21
	594			560

Less accumulated depreciation and amortization	(369		)	(346		)

Equipment and improvements, net	225			214

GOODWILL	8,595			8,595

OTHER ASSETS
Deferred financing costs, net	21			26
Other assets	515			510
Total other assets	536			536

TOTAL ASSETS	$	22,953		$	21,917

The accompanying notes are an integral part of these consolidated financial statements.

Table of Contents

TEAMSTAFF, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(AMOUNTS IN THOUSANDS EXCEPT PAR VALUE OF SHARES)

	(unaudited)
	December 31,			September 30,
	2011			2011
LIABILITIES AND SHAREHOLDERS’ EQUITY

CURRENT LIABILITIES:
Bank loan payable	$	1,832		$	740
Notes payable	711			711
Current portion of capital lease obligations	6			8
Accrued payroll	10,269			10,318
Accounts payable	2,425			1,983
Accrued expenses and other current liabilities	1,822			2,134
Liabilities from discontinued operation	218			235

Total current liabilities	17,283			16,129

LONG TERM LIABILITIES
Convertible debenture, net	82			46
Financial instruments, at fair value	238			182
Other long term liability	15			6

Total long term liabilities	335			234

Total liabilities	17,618			16,363

COMMITMENTS AND CONTINGENCIES

SHAREHOLDERS’ EQUITY:
Preferred stock, $.10 par value; authorized 5,000 shares; none issued and outstanding	—			—
Common stock, $.001 par value; authorized 40,000 shares; issued 6,077 at December 31, 2011 and 6,023 at September 30, 2011, outstanding 6,075 at December 31, 2011 and 6,021 at September 30, 2011	6			6
Additional paid-in capital	71,158			70,988
Accumulated deficit	(65,805		)	(65,416		)
Treasury stock, 2 shares at cost at December 31, 2011 and September 30, 2011	(24		)	(24		)
Total shareholders’ equity	5,335			5,554

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	22,953		$	21,917

The accompanying notes are an integral part of these consolidated financial statements.

Table of Contents

TEAMSTAFF, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

(AMOUNTS IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)

	(unaudited)
	For the Three Months Ended
	December 31,			December 31,
	2011			2010

REVENUES	$	11,495		$	10,575

DIRECT EXPENSES	9,928			9,257
GROSS PROFIT	1,567			1,318
GENERAL AND ADMINISTRATIVE EXPENSES	1,754			1,562

DEPRECIATION AND AMORTIZATION	23			31
Loss from operations	(210		)	(275		)

OTHER INCOME (EXPENSE)
Interest income	—			1
Interest expense	(77		)	(45		)
Amortization of deferred financing costs	(46		)	—
Change in fair value of financial instruments	(56		)	—
Other income, net	—			1
Legal expense related to pre-acquisition activity of acquired company	—			(19		)
	(179		)	(62		)

Loss from continuing operations before income taxes	(389		)	(337		)

INCOME TAX EXPENSE	—			—

Loss from continuing operations	(389		)	(337		)

NET LOSS	$	(389	)	$	(337	)

NET GAIN (LOSS) PER SHARE - BASIC AND DILUTED
Loss from continuing operations	$	(0.06	)	$	(0.07	)
Gain (loss) from discontinued operation	—			—
Net loss per share	$	(0.06	)	$	(0.07	)

WEIGHTED AVERAGE BASIC AND DILUTED SHARES OUTSTANDING	6,070			5,117

The accompanying notes are an integral part of these consolidated financial statements.

Table of Contents

TEAMSTAFF, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(AMOUNTS IN THOUSANDS)

	(Unaudited)
	For the Three Months Ended
	December 31,			December 31,
	2011			2010
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$	(389	)	$	(337	)
Adjustments to reconcile net loss to net cash used in operating activities, net of divested business:
Depreciation and amortization including debt costs	59			31
Change in fair value of derivative financial instruments	56			—
Compensation expense related to employee stock option grants	32			31
Compensation expense related to employee restricted stock grants	—			14
Compensation expense related to director restricted stock grants	123			20
Share based expense on non employee options	6			—
Warrants to consultants	3			—
Other non cash compensation	5			—
Changes in operating assets and liabilities, net of divested business:
Accounts receivable	(1,311		)	(963		)
Other current assets	—			71
Other assets	—			(7		)
Accounts payable, accrued payroll, accrued expenses and other current liabilities	82			(843		)
Other long term liabilities	9			(2		)
Cash flows from discontinued operation	—			—
Net cash used in operating activities	(1,325		)	(1,985		)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of equipment, leasehold improvements and software	(34		)	(9		)
Net cash used in investing activities	(34		)	(9		)
CASH FLOWS FROM FINANCING ACTIVITIES
Net advances on revolving line of credit	1,092			1,443
Repayments on capital lease obligations	(2		)	(5		)
Cash flows from discontinued operation	(17		)	(37		)
Net cash provided by financing activities	1,073			1,401

Net decrease in cash and cash equivalents	(286		)	(593		)

CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	763			1,187

CASH AND CASH EQUIVALENTS AT END OF PERIOD	$	477		$	594

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid during the period for interest	$	53		$	45
Cash paid during the period for income taxes	$	—		$	—

The accompanying notes are an integral part of these consolidated financial statements.

Table of Contents

TEAMSTAFF, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

DECEMBER 31, 2011 (UNAUDITED)

(1) ORGANIZATION AND BUSINESS:

TeamStaff, Inc. (together with its subsidiaries “TeamStaff” or the “Company” and also referred to as “we,” “us” and “our”) is a full-service provider of healthcare delivery solutions, logistics and technical services, and contingency/staff augmentation services to government agencies including the Department of Veteran Affairs, the Department of Defense, and other clients. The Company principally operates through its wholly-owned subsidiary DLH Solutions, Inc. (“DLH Solutions” formerly operating as Teamstaff Government Solutions, Inc.).

The Company has over 25 years of experience in Healthcare, Logistics and other technical services markets having supported numerous Federal agencies including the Department of Defense (“DoD”), the Department of Veterans Affairs (“DVA”), the Center for Disease Control, the Department of Justice, the Department of Agriculture, the Federal Emergency Management Agency and others throughout the United States. DLH Solutions has developed a suite of services and solutions offerings that are designed to significantly enhance the performance and productivity of our customers, resulting in reduced costs and increased customer satisfaction. With over 1,000 employees in over 20 states throughout the country we ensure that we have qualified operations staff in place to meet the exacting demands of our clients.

Corporate History

TeamStaff, Inc., a New Jersey corporation, was originally incorporated in 1969 as a payroll staffing company. Through several acquisitions over recent decades the Company has evolved considerably. In early 2010, TeamStaff divested its commercial temporary staffing business (TeamStaff Rx) and made the strategic decision to build the Company around its government services entity, TeamStaff Government Solutions, Inc. (“TeamStaff GS”) based in Loganville, Georgia. The Company is now completely focused on government services both as a prime contractor as well as partnering with other government contractors. During its 2011 fiscal year, the Company’s Board of Directors approved management’s proposal to re-brand the Company to better align with its strategic market focus, enhance brand-equity, and maximize long-term value. In September 2011, TeamStaff GS changed its corporate name and is now DLH Solutions.

In addition, the Company’s Board of Directors has approved a plan to change the corporate name of parent company TeamStaff, Inc. to DLH Holdings Corp and has scheduled a meeting of its shareholders for February 16, 2012 to approve the re-naming of TeamStaff, Inc. to DLH Holdings Corp.

TeamStaff’s other wholly-owned subsidiaries include TeamStaff Rx, DSI Staff ConnXions Northeast, Inc., DSI Staff ConnXions Southwest, Inc., TeamStaff Solutions, Inc., TeamStaff I, Inc., TeamStaff II, Inc., TeamStaff III, Inc., TeamStaff IV, Inc., TeamStaff VIII, Inc., TeamStaff IX, Inc., Digital Insurance Services, Inc., HR2, Inc. and BrightLane.com, Inc. As a result of the sale of our Professional Employer Organization business in fiscal year 2004 and other Company business changes, these “other” subsidiaries are not actively operating.

Teamstaff’s primary operations are located in Loganville, Georgia and its principal executive offices are located at 1776 Peachtree Street, Atlanta, Georgia 30309.

(2) LIQUIDITY AND SIGNIFICANT ACCOUNTING POLICIES:

Liquidity

At December 31, 2011, the Company had a net working capital deficit of approximately $3.7 million and an accumulated deficit of approximately $65.8 million. For the three months ended December 31, 2011, the Company incurred an operating loss and net loss of approximately $0.2 million and $0.4 million, respectively. The Company has a limited amount of cash and cash equivalents at December 31, 2011, and will be required to rely on operating cash flow and periodic funding, to the extent available, from its line of credit to sustain the operations of the Company unless it elects to pursue and is successful in obtaining additional debt or equity funding, as discussed below, or otherwise.

Table of Contents

Company. As described in Note 7, $150,000 of such capital was provided through equity investments on March 31, 2011 and $350,000 of such capital was provided in July 2011 by Wynnefield Capital through the sale of convertible debentures. In addition, as described in Note 6, on February 9, 2011, the Company entered into an amendment of its Loan and Security Agreement with Presidential Financial Corporation, pursuant to which they agreed to increase the maximum availability under the Loan and Security Agreement by an additional $500,000 and provide an unbilled receivable facility within the limits of the Loan and Security Agreement. Following this increase, the maximum availability under this loan facility is $3,000,000; subject to eligible accounts receivable. At December 31, 2011, the amount available was $438,000. In addition, as described in greater detail below, the parties agreed to amend certain other provisions of the Loan Agreement, including an extension of the term of the Loan Agreement for an additional year and the Lender agreed not to seek to terminate the Loan Agreement without cause until after February 29, 2012, which date has subsequently been amended to December 31, 2012. In addition, pursuant to its current credit facility, the financial institution also has the ability to terminate the Company’s line of credit immediately upon the occurrence of a defined event of default, including among others, a material adverse change in the Company’s circumstances or if the financial institution deems itself to be insecure in the ability of the Company to repay its obligations or, as to the sufficiency of the collateral. At present, the Company has not experienced and the financial institution has not declared an event of default.

Management believes, at present, that: (a) cash and cash equivalents of approximately $0.5 million as of December 31, 2011; (b) the amounts available under its line of credit (which, in turn, is limited by a portion of the amount of eligible assets); (c) forecasted operating cash flow including timely collection of the retrospective billings; (d) the ultimate non-payment of certain liabilities and recorded guarantees currently contested by the Company or not expected to be settled in cash (see Note 6 to the accompanying consolidated financial statements) (classified as current at December 31, 2011) in fiscal 2012, or the applicable portion of 2013 and (e) effects of cost reduction programs and initiatives should be sufficient to support the Company’s operations for twelve months from the date of these financial statements. However, should any of these factors not occur substantially as currently expected, there could be a material adverse effect on the Company’s ability to access the level of liquidity necessary for it to sustain operations at current levels for the next twelve months. In such an event, management may be forced to make further reductions in spending or to further extend payment terms with suppliers, liquidate assets where possible, and/or to suspend or curtail planned programs. Any of these actions could materially harm the Company’s business, financial position, results of operations and future prospects. Due to the foregoing there could be a future need for additional capital and the Company may pursue equity, equity-based and/or debt financing alternatives or other financing in order to raise any needed funds. If the Company raises additional funds by selling shares of common stock or convertible securities, the ownership of its existing shareholders would be diluted.

Presently, the Company derives all of its revenue from agencies of the Federal government and the Company has derived a substantial portion of its revenues through various contracts awarded by the DVA. On November 1, 2011, the Company commenced work under a single source Blanket Purchase Agreement with the DVA awarded in fiscal 2011 that represents both retention of existing work and expansion of new business at additional DVA locations. The maximum total value under this award is presently expected to be approximately $145,000,000 pursuant to site-specific task orders to be rendered by the DVA. The term of the award is for up to five years expiring October 31, 2016. The agreement is subject to the Federal Acquisition Regulations, and there can be no assurance as to the actual amount of services that the Company will ultimately provide under the agreement. This agreement effectively provides for renewal and expansion of contracts that generated, in aggregate, approximately 45% of its revenue in the year ended September 30, 2011, in respect of which the Company previously held order cover through various dates in fiscal 2012 under existing contracts. In addition, the Company also holds contractual order cover through various dates in fiscal 2012 in respect of DVA contracts that generated close to a further 50% of its revenue in the year ended September 30, 2011, which are not currently the subject of requests for proposals and may in due course be further extended by the DVA on a sole source basis, although no assurances can be given that this will occur. The Company’s results of operations, cash flows and financial condition would be materially adversely affected in the event that we are unable to continue our relationships with the DVA or suffer a significant diminution in the quantity of services that they procure from the Company.

Basis of Presentation

The consolidated interim financial statements included herein have been prepared by TeamStaff, without audit, pursuant to the applicable rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations. TeamStaff believes that the disclosures are adequate to make the information presented not misleading. These consolidated financial statements should be read in conjunction with the consolidated financial statements and the notes thereto included in TeamStaff’s fiscal 2011 Annual Report on Form 10-K which was filed on December 2, 2011. This interim financial information reflects, in the opinion of management, all adjustments necessary (consisting only of normal recurring adjustments and changes in estimates, where appropriate) to present fairly the results for the interim periods. The results of operations and cash flows for such interim periods are not necessarily indicative of the results for the full year.

Table of Contents

The accompanying consolidated financial statements include the accounts of TeamStaff and its subsidiaries, all of which are wholly owned. All intercompany balances and transactions have been eliminated in consolidation. Certain prior period amounts have been reclassified to conform to the current period presentation. The cash flows, and related assets and liabilities of TeamStaff Rx have been reclassified to a discontinued operation in the accompanying consolidated financial statements from those of continuing businesses for all periods presented.

Revenue Recognition

TeamStaff’s revenue is derived from professional and other specialized service offerings to US Government agencies through a variety of contracts, some of which are fixed-price in nature and/or sourced through Federal Supply Schedules administered by the General Services Administration (“GSA”) and the DVA at fixed unit rates or hourly arrangements. We generally operate as a prime contractor, but have also entered into fixed price or fixed unit price contracts as a subcontractor. The recognition of revenue from fixed rates is based upon objective criteria that generally do not require significant estimates that may change over time. Other types of US Government contracts may include fixed price or flexibly priced contracts requiring estimates based on percentage-of-completion methods of recognizing revenue and profit. These contracting vehicles do not, at this time, represent a significant portion of our revenue nor require estimating techniques that would materially impact our revenue reported herein. TeamStaff recognizes and records revenue on DVA contracts when it is realized, or realizable, and earned. TeamStaff considers these requirements met when: (a) persuasive evidence of an arrangement exists; (b) the services have been delivered to the customer; (c) the sales price is fixed or determinable and free of contingencies or significant uncertainties; and (d) collectability is reasonably assured.

Revenues related to retroactive billings in 2008 from an agency of the Federal government were recognized when: (1) the Company developed and calculated an amount for such prior period services and had a contractual right to bill for such amounts under its arrangements, (2) there were no remaining unfulfilled conditions for approval of such billings and (3) collectability is reasonably assured based on historical practices with the DVA. The related direct costs, principally comprised of salaries and benefits, are recognized to match the recognized reimbursements from the Federal agency; upon approval, wages will be processed for payment to the employees.

During the year ended September 30, 2008, TeamStaff recognized revenues of $10.8 million and direct costs of $10.1 million related to these non-recurring arrangements. At December 31 and September 30, 2011, the amount of the remaining accounts receivable with the DVA approximated $9.3 million and accrued liabilities for salaries to employees and related benefits totaled $8.7 million. The $9.3 million in accounts receivable was unbilled to the DVA at December 31 and September 30, 2011. Although the timing cannot be guaranteed, at present the Company expects to bill and collect such amounts during fiscal 2012 based on current discussions with the DVA and collection efforts.

Goodwill

In accordance with applicable accounting standards, TeamStaff does not amortize goodwill. TeamStaff continues to review its goodwill for possible impairment or loss of value at least annually or more frequently upon the occurrence of an event or when circumstances indicate that a reporting unit’s carrying amount is greater than its fair value. At September 30, 2011, we performed a goodwill impairment analysis. For the purposes of this analysis, our estimates of fair value are based on the income approach, which estimates the fair value of the DLH Solutions unit based on the future discounted cash flows. Based on the results of the work performed, the Company has concluded that no impairment loss on goodwill was warranted at September 30, 2011. Major assumptions in the valuation study were the estimates of probability weighted future cash flows, the estimated terminal value of the company and the discount factor applied to the estimated future cash flows and terminal value. Estimates of future cash flows were developed by management having regard to current expectations and potential future opportunities. A terminal value for the forecast period was estimated based upon data of public companies that management believes to be similar with respect to the Company’s economics, products and markets. The discount factor used was a cost of capital estimate obtained from a leading third party data provider. The resulting estimated fair value of goodwill exceeded the carrying value at September 30, 2011 by more than 100%, resulting in no impairment charge being taken against goodwill. However, a non-renewal of a major contract (see Note 2—Liquidity) or other substantial changes in the assumptions used in the valuation study could have a material adverse effect on the valuation of goodwill in future periods and the resulting charge could be material to future periods’ results of operations. Teamstaff has concluded as of December 31, 2011, that there is not any required write off of goodwill. If an impairment write off of all the goodwill became necessary in future periods, a charge of up to $8.6 million would be expensed in the Consolidated Statement of Operations. All remaining goodwill is attributable to the DLH Solutions reporting unit.

Table of Contents

Intangible Assets

As required by applicable accounting standards, TeamStaff did not amortize its tradenames, an indefinite life intangible asset. TeamStaff reviewed its indefinite life intangible assets for possible impairment or loss of value at least annually or more frequently upon the occurrence of an event or when circumstances indicated that an asset’s carrying amount was greater than its fair value. On September 15, 2011, the Board of Directors of TeamStaff approved the change of the corporate name of TeamStaff GS to DLH Solutions and also approved a plan to change the corporate name of the Company to DLH Holdings Corp. In connection with these actions, the Company will cease further use of the TeamStaff trademark and implement new marketing and branding initiatives associated with the new corporate identity being adopted by the Company. As a result of the corporate name change, abandoning the use of the TeamStaff name and associated rebranding efforts being implemented by the Company, the Company concluded that it was required to record a non-cash impairment charge with respect to the value of the “TeamStaff” trademark of $2.6 million to fully write-off the value of this trademark during the fourth quarter of fiscal 2011.

Income Taxes

TeamStaff accounts for income taxes in accordance with the “liability” method, whereby deferred tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities, using enacted tax rates in effect for the year in which the differences are expected to reverse. Deferred tax assets are reflected on the consolidated balance sheet when it is determined that it is more likely than not that the asset will be realized. This guidance also requires that deferred tax assets be reduced by a valuation allowance if it is more likely than not that some or all of the deferred tax asset will not be realized. At December 31, 2011, the Company recorded a 100% valuation allowance against its net deferred tax assets of approximately $15.6 million.

The Financial Accounting Standards Board (“FASB”) has issued authoritative guidance that clarifies the accounting for uncertainty in income taxes recognized in an entity’s financial statements and prescribes a recognition threshold of more-likely-than-not to be sustained upon examination. Measurement of the tax uncertainty occurs if the recognition threshold has been met. This interpretation also provides guidance on de-recognition, classification, interest and penalties, accounting in interim periods and disclosures. The Company conducts business solely in the U.S. and, as a result, also files income taxes in various states and other jurisdictions. Given the substantial net operating losses and the related valuation allowance established against such amounts, the Company has concluded that it does not have any uncertain tax positions. There have been no income tax related interest or penalties for the periods presented in these consolidated financial statements. In the normal course of business, the Company and its subsidiaries are subject to examination by Federal and state taxing authorities. The Company’s income tax returns for years subsequent to fiscal 2007 are currently open, by statute, for review by authorities. However, there are no examinations currently in progress and the Company is not aware of any pending audits.

Stock-Based Compensation

Compensation costs for the portion of equity awards (for which the requisite service has not been rendered) that are outstanding are recognized as the requisite service is rendered. The compensation cost for that portion of awards shall be based on the grant-date fair value of those awards as calculated for recognition purposes under applicable guidance. As of December 31, 2011,there was $202,000 remaining unrecognized compensation expense related to non-vested stock- based awards to be recognized in future periods.

Stock Options, Warrants and Restricted Stock

There was share-based compensation expense for options for the three months ended December 31, 2011 and December 31, 2010 of $40,000 and $31,000, respectively. There was no share-based compensation expense for restricted stock for the three months ended December 31, 2011, and $18,000 for the three months ended December 31, 2010. Certain awards vest upon satisfaction of certain performance criteria. As permitted, the Company will not recognize expense on the performance based shares until it is probable that these conditions will be achieved. Such charges could be material in future periods.

During the three months ended December 31, 2011, the Company did not grant any options to employees. During the three months ended December 31, 2011, the Company awarded a total of 25,000 options to consultants serving on its strategic advisory board. The Company did not grant any non-employee options during the three months ended December 31, 2010 and incurred share based compensation expense of $6,000. During the three months ended December 31, 2010, the Company granted 250,000 options per the terms of an employment agreement with the Company’s Executive Vice President and recorded share-based compensation expense of $18,000 in connection with this grant.

Table of Contents

During the three months ended December 31, 2011, and 2010, the Company did not grant any shares of restricted stock to employees. During the three months ended December 31, 2011, the Company granted an aggregate of 53,750 shares of restricted stock to our non-executive directors, under its 2006 Long Term Incentive Plan, at the closing price on the award date of $2.28. All of these shares vested immediately. During the three months ended December 31, 2010, the Company granted 35,000 shares of restricted stock to non-employee directors under its 2006 Long Term Incentive Plan, at the closing price on the award date of $.56. All of these shares vested immediately. Stock compensation expense associated with these grants was $122,550 and $19,600 for the three months ended December 31, 2011 and 2010, respectively. During the three months ended December 31, 2011 and 2010, no shares of restricted stock vested.

The stock option activity for the three months ended December 31, 2011 is as follows:

	Number of Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value
Options outstanding, September 30, 2011	1,537,500		$	1.19	9.3	$	743,785
Granted	25,000		$	1.88
Cancelled	(212,500	)	$	1.81
Exercised	—		—
Options outstanding, December 31, 2011	1,350,000		$	1.12	8.9	$	1,043,875

At December 31, 2011, there were 450,000 options outstanding that were vested and exercisable and an additional 900,000 options outstanding that vest to the recipients when the market value of the Company’s stock achieves and maintains defined levels. The Company used a binomial valuation model and various probability factors in establishing the fair value of these options.

In addition, during the three months ended December 31, 2011, an aggregate of 212,500 employee stock options to certain executive officers were cancelled, due to the Company not meeting certain performance based criteria during fiscal 2011.

The aggregate intrinsic value in the table above represents the total pretax intrinsic value (i.e., the difference between the Company’s closing stock price on the last trading day of the period and the exercise price, times the number of shares) that would have been received by the option holders had all option holders exercised their in the money options on those dates. This amount changes based on the fair market value of the Company’s stock.

At December 31, 2011, there were 52,500 shares of unvested restricted stock outstanding. As of December 31, 2011, there are $150,000 remaining costs related to non-vested restricted stock awards.

For the three months ended December 31, 2011, the Company granted warrants to purchase 20,000 shares of common stock to a consultant for services, which warrants will expire in October 2016. These warrants have an exercise price of $2.28 per share and vest in two equal annual installments commencing on the first anniversary of the grant date. These warrants were issued pursuant to the exemption from registration provided by Section 4(2) of the Securities Act of 1993, as amended. Also, the Company granted options to purchase 25,000 shares of common stock to consultants for service on the Company’s Strategic Advisory Board, which options also expire in October 2016. These options have an exercise price of $1.88 per share and vest on the first anniversary of the grant date. The company recognized non-employee option and warrant expense for the three months ended December 31, 2011, in the amount of $3,000 and has unrecognized non-employee option and warrant expense in the amount of $21,000.

Table of Contents

Changes in Shareholders’ Equity

During the three months ended December 31, 2011, additional paid in capital increased by a total of $171,000, comprised of $43,000 as a result of warrants and stock compensation expense. In addition, $5,000 of credits of one of the March 31, 2011 purchasers of equity via rights of offset were applied by the Company during the three months ended December 31, 2011 in respect of 11,056 shares, and shares of restricted stock were granted to the Company’s non-employee directors in the amount of $123,000.

Fair Value of Financial Instruments

The Company has financial instruments, principally accounts receivable, accounts payable, loan payable, notes payable, and accrued expense. Due to the short term nature of these instruments, TeamStaff estimates that the fair value of all financial instruments at December 31, 2011 and September 30, 2011 does not differ materially from the aggregate carrying values of these financial instruments recorded in the accompanying consolidated balance sheets.

Loss Per Share

Loss per share is calculated by dividing loss available to common shareholders by the weighted average number of common shares outstanding and restricted stock grants that vested or are likely to vest during the period. Diluted loss per share is calculated by dividing the loss available to common shareholders by the weighted average number of basic common shares outstanding, adjusted to reflect potentially dilutive securities. The effects of common stock equivalents of 1,693,076 and 1,537,500 are anti-dilutive for the three months ended December 31, 2011 and 2010, respectively. As such effects are anti-dilutive, there were no differences in the number of weighted average shares outstanding in determining basic and diluted loss per share the three months ended December 31, 2011 and 2010.

(3) DISCONTINUED OPERATION:

Sale of TeamStaff Rx

Based on an analysis of historical and forecasted results and the Company’s strategic initiative to focus on core business, in the fourth quarter of fiscal 2009, the Company approved and committed to a formal plan to divest the operations of TeamStaff Rx, our wholly-owned subsidiary, based at its Clearwater, Florida location. In evaluating the facets of TeamStaff Rx’s operations, management concluded that this business component meets the definition of a discontinued operation. Accordingly, the results of operations, cash flows and related assets and liabilities of TeamStaff Rx for all periods presented have been reclassified in the accompanying consolidated financial statements from those of our continuing business.

Effective December 28, 2009, TeamStaff and TeamStaff Rx entered into a definitive Asset Purchase Agreement with Advantage RN, providing for the sale of substantially all of the operating assets of TeamStaff Rx related to TeamStaff Rx’s business of providing travel nurse and allied healthcare professionals for temporary assignments to Advantage RN. The closing of this transaction occurred on January 4, 2010. The Asset Purchase Agreement provided that the purchased assets were acquired by Advantage RN for a purchase price of up to $425,000, of which: (i) $350,000 in cash was paid at the closing, and (ii) $75,000 was subject to an escrowed holdback as described in the Asset Purchase Agreement. On March 25, 2010, the Company and Advantage RN completed the analysis related to escrow release conditions and reached an agreement as to the final purchase price. Of the $75,000 held in escrow, $25,000 was returned to the Company and $50,000 was released to Advantage RN, resulting in a final purchase price of $375,000. Additionally, Advantage RN was obligated to make rent subsidy payments to TeamStaff Rx totaling $125,000, consisting of: (i) $25,000 paid at closing, and (ii) an additional $100,000 payable in 10 equal monthly installments beginning on March 1, 2010. The last rent payment received from Advantage RN was in July 2010. They have since vacated the premises and ceased making installment payments. The Company is pursuing a claim against Advantage RN for all amounts owed. The Company has provided an allowance for their estimate of uncollectible sub-lease funding of $50,000. Under the terms of the Asset Purchase Agreement, Advantage RN did not assume any debts, obligations or liabilities of TeamStaff Rx nor did it purchase any accounts receivable outstanding as of the closing date.

Condensed Financial Information

There was no income statement activity in respect of the discontinued operation during the three months ended December 31, 2011 and 2010.The following chart details liabilities from the discontinued operation (amounts in thousands):

Table of Contents

Liabilities	December 31, 2011		September 30, 2011
Accrued expenses and other current liabilities	$	218	$	235
Total liabilities	$	218	$	235

(4) COMMITMENTS AND CONTINGENCIES:

Payroll Taxes

TeamStaff has received notices from the Internal Revenue Service (“IRS”) claiming taxes, interest and penalties due related to payroll taxes predominantly from its former PEO operations which were sold in fiscal 2003. TeamStaff has also received notices from the IRS reporting overpayments of taxes. Management believes that these notices are predominantly the result of misapplication of payroll tax payments between its legal entities. If not resolved favorably, the Company may incur interest and penalties. Until the sale of certain assets related to the former PEO operations, TeamStaff operated through 17 subsidiaries, and management believes that the IRS has not correctly identified payments made through the different entities, therefore leading to the notices. TeamStaff has been working with the IRS to resolve these discrepancies and has had certain interest and penalty claims abated. TeamStaff has also received notices from the Social Security Administration claiming variances in wage reporting compared to IRS transcripts. TeamStaff believes the notices from the Social Security Administration are directly related to the IRS notices received. TeamStaff had retained the services of Ernst & Young LLP as a consultant to assist in resolving certain of these matters with the IRS and Social Security Administration. TeamStaff believes that after the IRS applies all the funds correctly, and we will request an abatement of any significant interest and penalties ; however, there can be no assurance that each of these matters will be resolved favorably. In settling various years for specific subsidiaries with the IRS, the Company has received refunds for those specific periods; however, as the process of settling and concluding on other periods and subsidiaries is not yet completed, the potential exists for related penalties and interest and the remaining liability ($1.3 million at December 31, 2011) has been recorded in accounts payable and includes estimated penalties and interest currently sought by the IRS totaling approximately $500,000.

The Company believes it has accrued for the entire estimated remaining liability, inclusive of interest and penalties through the date of the financial statements. The Company may incur additional interest and penalties through the future date that this obligation is settled, however, it is not currently possible to estimate what, if any, additional amount(s) may be claimed in future, given the uncertain timing and nature of any future settlement negotiations. No payments were made in fiscal 2011 and fiscal 2012. Management believes that the ultimate resolution of these remaining payroll tax matters will not have a significant adverse effect on its financial position or future results of operations. The Company’s intention is that it will in due course seek to negotiate a mutually satisfactory payment plan with the IRS, but there is no assurance that it would be successful in doing so and the Company’s future cash flows and liquidity could therefore be materially affected by this matter.

Legal Proceedings

As a commercial enterprise and employer, we are subject to various claims and legal actions in the ordinary course of business. These matters can include professional liability, employment-relations issues, workers’ compensation, tax, payroll and employee-related matters and inquiries and investigations by governmental agencies regarding our employment practices or other matters. We are not aware of any pending or threatened litigation that we believe is reasonably likely to have a material adverse effect on our results of operations, financial position or cash flows.

In connection with its healthcare business, TeamStaff is exposed to potential liability for the acts, errors or omissions of its healthcare employees. The professional liability insurance policy provides up to $5,000,000 aggregate coverage with a $2,000,000 per occurrence limit. Although TeamStaff believes the liability insurance is reasonable under the circumstances to protect it from liability for such claims, there can be no assurance that such insurance will be adequate to cover all potential claims.

Leases

On June 29, 2011, TeamStaff, Inc. entered into a lease agreement (the “New Lease”) for property located at 1776 Peachtree Street, NW, Atlanta, Georgia (the “New Premises”) with an affiliate of the Landlord of its prior offices at 1 Executive Drive, Somerset, New Jersey (the “Somerset Offices”). Payment of rent under the New Lease will commence 90 days after November 23, 2011, the date of occupancy in the New Premises.. The New Premises consist of approximately 4,000 square feet and the annual base rent under the New Lease is initially approximately $75,500 and will periodically increase to a maximum of approximately $88,700. The Landlord and the Company entered into a lease surrender agreement executed in conjunction with the New Lease providing that the Somerset Offices be immediately surrendered at no charge upon the Company’s occupancy of the New Premises. The term of the New Lease is for a period of 68 months commencing on November 23, 2011, the date of occupancy in the New Premises.

Table of Contents

(5) PREPAID WORKERS’ COMPENSATION:

As part of the Company’s discontinued PEO operations, TeamStaff had a workers’ compensation program with Zurich American Insurance Company (“Zurich”) which covered the period from March 22, 2002 through November 16, 2003, inclusive. Payments for the policy were made to a trust monthly based on projected claims for the policy period. Interest on all assets held in the trust is credited to TeamStaff. Payments for claims and claims expenses are made from the trust. From time-to-time, trust assets have been refunded to the Company based on Zurich’s and managers’ overall assessment of claims experience and historical and projected settlements. The final amount of trust funds that could be refunded to the Company is subject to a number of uncertainties (e.g. claim settlements and experience, health care costs, the extended statutory filing periods for such claims); however, based on a third party’s study of claims experience, TeamStaff estimates that at December 31, 2011, the remaining prepaid asset of $0.3 million will be received within the next twelve to thirty-six months. This amount is reflected on TeamStaff’s balance sheet as December 31, 2011 as a current asset, in addition to approximately $0.2 million related to other policy deposits.

(6) DEBT:

Loan Facility

On July 29, 2010, DLH Solutions entered into a Loan and Security Agreement (the “Loan Agreement”) with Presidential Financial Corporation (the “Lender”). Under the Loan Agreement, the Lender agreed to provide a two (2) year loan and security facility to DLH Solutions in an aggregate amount of up to $1.5 million, upon the further terms and subject to the conditions of the Loan Agreement. In November, 2010, the Lender agreed by means of an amendment to the Loan Agreement to increase the maximum amount available under the facility from $1.5 million to $2.5 million and on February 9, 2011, we entered into a further amendment to the Loan Agreement pursuant to which the Lender agreed to further increase our maximum availability under the Loan Agreement from $2.5 million to $3.0 million and to provide an unbilled receivable facility within the limits of the Loan Agreement. An interest rate premium of 2% is payable in respect of any advances secured by unbilled accounts receivable, which are subject to a sub-facility limit of $500,000 and an advance rate of 75%. The loan is secured by a security interest and lien on all of DLH Solutions’ cash accounts, account deposits, letters of credit and investment property, chattel paper, furniture, fixtures and equipment, instruments, investment property, general intangibles, deposit accounts, inventory, other property, all proceeds and products of the foregoing (including proceeds of any insurance policies and claims against third parties for loss of any of the foregoing) and all books and records related thereto. DLH Solutions’ ability to request loan advances under the Loan Agreement is subject to (i) computation of DLH Solutions’ advance availability limit based on “eligible accounts receivables” (as defined in the Loan Agreement) multiplied by the “Accounts Advance Rate” established by the Lender which initially shall be 85% and may be increased or decreased by the Lender in exercise of its discretion; and (ii) compliance with the covenants and conditions of the loan. The loan was originally for a term of 24 months and after giving effect to the February 2011 amendment, which also extended the term of the Loan Agreement by 12 months, will mature on July 29, 2013.

Interest on the loan initially accrued on the daily unpaid balance of the loan advances secured by billed receivables at the greater of one point ninety-five percent (1.95%) above the Prime Rate (as published in effect in The Wall Street Journal from time to time) or at the rate of three point two-five percent (3.25%) per annum. However, pursuant to the February 2011 amendment, the Company agreed with the Lender to adjust the rate of interest chargeable under the Loan and Security Agreement to be the greater of (a) 3.25% or (b) (i) 1.95% above the Wall Street Journal Prime rate on the accounts receivable portion of the credit line and (ii) 3.95% above the Wall Street Journal Prime rate on the unbilled accounts portion. The interest rate at December 31, 2011 and 2010 was 5.2%. In addition, DLH Solutions will pay certain other related fees and expense reimbursements including a monthly service charge of 0.65% based on the average daily loan balance which shall accrue daily and be due and payable on the last day of each month so long as the Loan Agreement is outstanding. The interest rate in effect at December 31, 2011 and 2010 was 5.2% and 5.5%, respectively. At December 31, 2011, the amount of the unused availability under the line was $438,000. The amount outstanding as of December 31, 2011 was $1,832,000.

Table of Contents

Company is also restricted from making any payments in respect of other outstanding indebtedness. The Lender may terminate the Loan Agreement at any time upon 60 days written notice after February 29, 2012, which date has subsequently been amended to December 31, 2012 and the Loan Agreement provides for customary events of default following which the Lender may, at its option, terminate the loan agreement and accelerate the repayment of any amount outstanding. The defined events of default include, among other things, a material adverse change in the Company’s circumstances, or if the Lender deems itself insecure in the ability of the Company to repay its obligations, or as to the sufficiency of the collateral.

As part of the February 2011 amendment, the Lender agreed to waive the Company’s non-compliance with the covenant under the Loan Agreement to furnish them with a copy of DLH Solutions’ financial statements within 90 days after the end of its fiscal year. In addition to granting this waiver, the Lender also agreed to modify this covenant to require that the Company provide them, within 90 days after the end of each fiscal year, audited consolidated financial statements of the Company and its subsidiaries as of the end of such fiscal year and, in addition, at the same time, furnish consolidating income statement and balance sheet schedules, including a reconciliation with DLH Solutions’ financial information.

The Company has concurrently executed a Corporate Guaranty Agreement with Lender pursuant to which it has guaranteed all of the obligations of DLH Solutions under the Loan Agreement.

Notes Payable

TeamStaff, Inc. and DLH Solutions entered into a settlement agreement dated as of July 22, 2011 (the “Agreement”) with Roger Staggs and E. Barry Durham, the former principals of RS Staffing Services, Inc. (together, the “Sellers”). The Sellers are the holders of certain promissory notes issued by TeamStaff, Inc. in the aggregate principal amount of $1,500,000 (the “Notes”). The claims resolved by the Settlement Agreement concerned TeamStaff’s claim of indemnification of approximately $1,800,000 arising out of the acquisition by TeamStaff, Inc. of RS Staffing Services, Inc. in June 2005 and certain counterclaims by the Sellers against TeamStaff, including payment under the Notes. Pursuant to the Agreement, the Company paid $200,000 in cash to the Sellers, and issued them an aggregate of 300,000 shares of common stock of TeamStaff, Inc., valued at $795,000, the fair value of the stock at July 22, 2011. The Company also agreed to permit the Sellers to resell an aggregate of 201,724 other shares of common stock of TeamStaff, Inc. which were held by them, and against which the Company had previously placed a stop order to prevent their resale. The Sellers agreed to orderly sale limitations with respect to their ability to resell all their shares of common stock of TeamStaff, Inc. In accordance with these limits, during the 90 day period commencing on the effective date of the Agreement, neither Seller was permitted to resell in excess of 33,000 shares of TeamStaff common stock previously held by them during any 30 day period without the consent of TeamStaff. With respect to the new shares of TeamStaff common stock issued pursuant to the Agreement, commencing on the six month anniversary of the effective date of the Agreement, neither will resell in excess of 25,000 shares during any 30 day period without the consent of TeamStaff. In addition, TeamStaff provided guarantees to the Sellers that the net proceeds to be received by them from the resale of all of the shares of common stock of TeamStaff, Inc. sold by them pursuant to the Agreement would not be less than certain minimum guarantees. With respect to the shares of common stock of TeamStaff, Inc. owned by them prior to the effective date of the Agreement (the “Old TeamStaff Shares”), TeamStaff guaranteed to each Seller net proceeds of $100,000, and with respect to the shares of common stock of TeamStaff, Inc. issued under the Agreement (the “New TeamStaff Shares”), TeamStaff guaranteed net proceeds of $375,000 to each. The guarantees in respect of the Old TeamStaff Shares were satisfied in full as of December 31, 2011.

The payments of all amounts under the Agreement are secured by the Notes. Upon receipt by the Sellers of: (i) the payment of $200,000 made by TeamStaff and (ii) the proceeds realized from the sale of the Old TeamStaff Shares and New TeamStaff Shares, or the guarantees, the Notes shall be deemed satisfied in full. In addition, the parties agreed to release each other from any further claims that either may have against the other, except to enforce the Agreement. At December 31 2011, the maximum remaining contingent liability under the agreement could potentially reach $750,000.

The remaining liability under the Agreement does not accrue interest. The Company has evaluated the status of the Agreement, including the amount of consideration that is contingently owed to the Sellers, as well as the uncertainties inherent in predicting future market conditions and whether the Sellers are able to realize sufficient proceeds on sales of New TeamStaff Shares to satisfy the Company’s guarantee. Based on such analysis, the Company has concluded at December 31, 2011 that the $711,000 recorded obligation (which approximated the maximum amount of the guarantee) remaining after issuance of the 300,000 New TeamStaff Shares at a total fair value of $795,000 and the cash payment of $200,000 is reasonable. Although no assurances can be given, should the Sellers be able to individually realize proceeds through future sales of New TeamStaff Shares, the Company may reduce the recorded liability in future periods and recognize a gain. There was no gain recognized in the three months ended December 31, 2011.

Table of Contents

The Company did not recognized expenses related to legal representation and costs incurred in connection with the investigation and settlement in the three months ended December 31, 2011.

(7) EQUITY AND CONVERTIBLE DEBENTURES FINANCING

On March 31, 2011, the Company entered into a Securities Purchase Agreement (the “Purchase Agreement”) with a limited number of accredited investors pursuant to which the Company sold an aggregate of $225,000 for 459,181 shares of its Common Stock to such persons in a private transaction (the “Equity Investment”). The purchasers participating in the transaction are members of the Company’s Board of Directors and management team (the “Purchasers”). The transaction closed on March 31, 2011. Of this amount, the Company received $150,000 in total cash proceeds for the purchase of the shares of Common Stock and three of the purchasers agreed with the Company to pay the purchase price for the shares of Common Stock by granting an offsetting credit to the Company for an amount equal to the purchase price and authorizing the Company to apply such credit against any obligation of the Company to such person within twelve months of the closing date, except for base salary. The shares to which the credit relates are to be held by the Company until the credit is applied and will be cancelled upon the one-year anniversary to the extent the credit is not applied. The aggregate amount of such credits totaled $75,000. As of the three months ended December 31, 2011, $5,308 of such rights of offset were exercised by the Company in respect of 11,056 shares. The Company has used these cash proceeds for general working capital. The value ascribed to the Equity Investment was based on the fair value of the Company’s stock on March 31, 2011. On May 18, 2011, the Company issued 51,020 shares of Common Stock to its counsel in connection with an arrangement to cancel $25,000 of outstanding fees.

On June 1, 2011, the Company entered into a debenture purchase agreement (the “Debenture Purchase Agreement”) with entities affiliated with Wynnefield Capital, Inc. (the “Debenture Purchasers”), providing for a standby commitment pursuant to which the Debenture Purchasers agreed to purchase convertible debentures (the “Convertible Debentures”) in an aggregate principal amount of up to $350,000 (the “Total Commitment Amount”). In addition, the Company issued the Debenture Purchasers warrants to purchase an aggregate of 53,846 shares of common stock (the “Warrants”) in consideration of their agreement to provide the Total Commitment Amount. On July 28, 2011, the Company drew down the entire amount of the Total Commitment amount available under the Debenture Purchase Agreement, of which $200,000 was used for the initial payments under the Debenture Purchase Agreement relating to the settlement with the former owners of RS Staffing, and on such date the Company issued the Convertible Debentures in the aggregate principal amount of $350,000 to the Debenture Purchasers, and received such funds.

The Convertible Debentures will mature on the 27-month anniversary of issuance and bear interest at the rate of the greater of the prime rate plus 5%, or 10% per annum, payable at maturity or upon redemption of such Convertible Debentures. The interest rate at December 31, 2011 was 10%. The Convertible Debentures are convertible into shares of the Company’s common stock at an initial conversion price of $1.30 per share, which was in excess of the fair market value of the Company’s common stock at that date. The initial conversion rate is subject to adjustment to account for certain customary events and also includes weighted-average anti-dilution protection for future issuances by the Company, subject to certain exclusions. The Company can also redeem the outstanding Convertible Debentures at any time at 120% of the remaining principal amount, plus accrued but unpaid interest. The Warrants are exercisable for five years at an initial exercise price equal to $1.00. The initial exercise price of the Warrants is subject to adjustment for certain customary events and includes weighted average anti-dilution protection for future issuances by the Company, subject to certain exclusions. In connection with the parties’ entry into the Debenture Purchase Agreement, the Company, DLH Solutions, the Debenture Purchasers and Presidential Financial Corporation entered into subordination agreements concerning the terms of the subordination of the Convertible Debentures to the secured loan facility provided by Presidential Financial Corporation. Under the subordination agreements, the Company may not make payments to the Debenture Purchasers under the Convertible Debentures unless before and following such payments, no “Event of Default” exists under the secured loan facility.

The Debenture Purchasers are entities affiliated with Wynnefield Capital, Inc., the Company’s largest shareholder. Mr. Peter Black, a member of the Company’s Board of Directors, is an employee of Wynnefield Capital. The Convertible Debentures and Warrants will be restricted securities issued in reliance upon the exemption from registration provided by Section 4(2) of the Securities Act of 1933, as amended (the “Securities Act”).

Direct costs associated with the Debenture Purchase Agreement totaled $31,000. These costs have been and will be capitalized as deferred financing costs and amortized over the period that such debentures are outstanding or the Debenture Agreement is effective. In addition, an initial value of $42,000 was ascribed to the warrants and it was determined that at July 28, 2011, because of appreciation in the Company’s stock price, the embedded conversion feature included in the Convertible Debentures had a fair value of $289,000 at the time of issuance of the Convertible Debentures; such amount is also being expensed over the life of the Convertible Debentures and the unamortized amounts have been deducted from the value of the Convertible Debentures as noted below.

Table of Contents

At December 31, 2011, there were 53,846 warrants outstanding and the Debenture Purchasers have the right to convert the principal amount of the Convertible Debentures into 269,230 shares of common stock under the terms of the conversion feature embedded in the Convertible Debentures. Because the warrants and the conversion feature embedded in the Convertible Debenture have a weighted average anti-dilution feature that in certain circumstances could provide the holders with protection against changes in the market value of the Company’s common stock, they are required under applicable accounting standards to be recorded at fair value as of the balance sheet date. At December 31 and September 30, 2011, the Company evaluated the fair value of the Warrants and the embedded conversion feature of the Convertible Debentures using a binomial valuation model and recorded expense of $56,000 for the three months ended December 31, 2011 to reflect the net difference between their carrying values at September 30, 2011 and their fair values as of December 31, 2011 using the closing stock price as of December 31, 2011 for a total value of $238,000.

The payment of the entire $350,000 principal amount of the Convertible Debentures is contractually due in the fiscal year ending September 30, 2014. The Company has evaluated the likelihood of satisfying the liability associated with the financial instruments in fiscal 2012 and has concluded that the classification of this liability is non- current at December 31, 2011.

(8) Recently Issued Accounting Pronouncements Affecting the Company

In May 2011, the FASB amended existing guidance on fair value measurements to clarify certain disclosure requirements and improve consistency with international reporting standards. This amendment is to be applied prospectively and is effective for the Company’s fiscal quarter ending March 31, 2012. The Company, at present, does not expect its adoption to have a material effect on prospective financial statements.

The FASB amended existing guidance on reporting comprehensive income in June 2011 to require entities to present the total of comprehensive income, the components of net income, and the components of other comprehensive income either in a single continuous statement of comprehensive income or in two separate but consecutive statements. The amendment does not change the items that must be reported in other comprehensive income or when an item of other comprehensive income must be reclassified to net income under current accounting principles generally accepted in the United States of America. This guidance is effective for the Company’s fiscal quarter ending March 31, 2012. The Company, at present, does not expect its adoption to have a material effect on prospective financial statements.

In August 2011, the FASB approved a revised accounting standard to simplify the testing of goodwill for impairment. The guidance permits an entity to first assess defined qualitative factors in determining whether it is necessary to perform the goodwill impairment test. The guidance is effective for annual and interim goodwill impairment tests for the Company’s fiscal year ending September 30, 2013. The Company is currently evaluating the prospective effects, if any, of adopting this guidance.

(9) SUBSEQUENT EVENTS:

Management evaluated subsequent events through the date these financial statements were issued. Based on this evaluation, the Company has determined that no subsequent events have occurred which require disclosure through the date that these financial statements are issued.

ITEM 2: MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Forward Looking and Cautionary Statements

This report contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 (the “1995 Reform Act”), Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). TeamStaff desires to avail itself of certain “safe harbor” provisions of the 1995 Reform Act and is therefore including this special note to enable TeamStaff to do so. Forward-looking statements are identified by words such as “believe,” “anticipate,” “expect,” “intend,” “plan,” “will,” “may” and other similar expressions. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. Forward-looking statements included in this report involve known and unknown risks, uncertainties and other factors which could cause TeamStaff’s actual results, performance (financial or operating) or achievements to differ from the future results, performance (financial or operating) or achievements expressed or implied by such forward-looking statements. We based these forward-looking statements on our current expectations and best estimates and projections about future events. Our actual results could differ materially from those discussed in, or implied by, these forward-looking statements. The following factors (among others) could cause our actual results to differ materially from those implied by the forward-looking statements in this report: our ability to secure contract awards, including the ability to secure renewals of contracts under which we currently provide service; our ability to

Table of Contents

enter into contracts with United States Government facilities and agencies on terms attractive to us and to secure orders related to those contracts; changes in the timing of orders for and our placement of professionals and administrative staff; the overall level of demand for the services we provide; the variation in pricing of the contracts under which we place professionals; our ability to manage growth effectively; the performance of our management information and communication systems; the effect of existing or future government legislation and regulation; changes in government and customer priorities and requirements (including changes to respond to the priorities of Congress and the Administration, budgetary constraints, and cost-cutting initiatives); economic, business and political conditions domestically; the impact of medical malpractice and other claims asserted against us; the disruption or adverse impact to our business as a result of a terrorist attack; the loss of key officers, and management personnel; the competitive environment for our services; the effect of recognition by us of an impairment to goodwill and intangible assets; other tax and regulatory issues and developments; the effect of adjustments by us to accruals for self-insured retentions; our ability to obtain any needed financing; our ability to attract and retain sales and operational personnel; and the effect of other events and important factors disclosed previously and from time to time in Teamstaff’s filings with the U.S. Securities and Exchange Commission.

Other factors that could cause actual results to differ from those implied by the forward-looking statements in this Quarterly Report on Form 10-Q are set forth in our Annual Report on Form 10-K for the year ended September 30, 2011 and our other reports filed with the SEC, including this Quarterly Report on Form 10-Q. In light of the significant risks and uncertainties inherent in the forward looking statements included in the Company’s reports, the inclusion of such statements should not be regarded as a representation by or on behalf of the Company that the objectives and plans of the Company will be achieved.We undertake no obligation to update any forward-looking statement or statements in this filing to reflect events or circumstances that occur after the date on which the statement is made or to reflect the occurrence of unanticipated events.

Critical Accounting Policies and Estimates

See Note 2 of TeamStaff’s 2011 Annual Report on Form 10-K as well as “Critical Accounting Policies and Estimates” contained therein for a discussion on critical accounting policies and estimates.

Intangible Assets

Table of Contents

Income Taxes

TeamStaff accounts for income taxes in accordance with the “liability” method, whereby deferred tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities, using enacted tax rates in effect for the year in which the differences are expected to reverse. Deferred tax assets are reflected on the consolidated balance sheet when it is determined that it is more likely than not that the asset will be realized. This guidance also requires that deferred tax assets be reduced by a valuation allowance if it is more likely than not that some or all of the deferred tax asset will not be realized. At December 31, 2011 and 2010, the Company recorded a 100% valuation allowance against its net deferred tax assets of approximately $15.6 million.

Overview

Business Description

TeamStaff Inc., incorporated in New Jersey, is a full-service provider of healthcare delivery solutions, logistics & technical services, and contingency/staff augmentation services to government agencies including the Department of Veteran Affairs, the Department of Defense, and other clients. The Company principally operates through its wholly-owned subsidiary DLH Solutions, Inc. (“DLH Solutions”) and is headquartered in Atlanta, Georgia.

Business Units

As part of our overall strategic planning process, the Company realigned its business into three operating units (Healthcare Delivery, Logistics and Technical Services and Contingency/Staff Augmentation. This new structure enables us to leverage our core competencies and drive towards profitable growth within our expanded target markets. We recognize that some business units may grow faster than others as a result of acquisitions or disposition of business. In either case, we intend to enhance our delivery of quality products and services.

Healthcare Delivery Solutions

The Healthcare Delivery Solutions business unit , provides a broad continuum of care for our nation’s servicemen/women and veterans in various settings and facilities. These include Combat Trauma Centers (CTCs), Military Treatment Facilities (MTFs), Medical Centers, Community-based Outpatient Clinics (CBOCs), Pharmacy Distribution Centers (including VA Consolidated Mail-order Outpatient Pharmacy), and an Armed Forces Retirement Facility. We leverage our network of over 400 active clinicians and other healthcare workers throughout selected regions in the US along with differentiating tools, databases and technology (including e-PRAT and SPOT-m) to deliver these services. For over a decade, DLH Solutions has been serving the DVA and DoD in providing qualified medical and other professionals in a variety of positions. Healthcare Delivery Solutions is one of our strategic focus areas for growth and a major business area that DLH Solutions services. As more and more Federal and DoD programs increase their performance-based requirements, DLH Solutions’ workforce profile of medical talent and credentials (as described above) will help it to compete and differentiate itself in the market place. Our healthcare and medical service new business pipleline adds important credentials strategically linked to diversifying and profitably growing our Healthcare Delivery Solutions business base. Professional services have included case management, health and injury assessment, critical care, medical/surgical, emergency room/trauma center, counseling, behavioral health and trauma brain injury, medical systems analysis, and medical logistics. Allied support includes a wide range including MRI technology, diagnostic sonography, phlebotomy, dosimetry, physical therapy, pharmaceuticals and others. In fiscal 2011, approximately 45% of our revenue was derived from the Healthcare Delivery Solutions business unit .

Logistics & Technical Services

The Logistics & Technical Services business unit draws heavily upon our proven logistics expertise and processes. Our project manager’s expertise range from career government support employees to retired military veterans that have extensive logistic experience. The experience of DLH Solutions’ project managers is diverse from operational unit level to systems command/headquarters program office experience. Our core competencies include; supply chain management, performance-based logistics, distribution center and inventory management, statistical process control, packaging/handling/storage & transportation, and supply support operations. In addition, it embodies program and project management, systems engineering and applicable information technology services, integrated logistics support (including operational systems), readiness assessments, training, equipment and non-tactical vehicle operations and maintenance, hazardous material management, facilities and shipyard support services and more. DLH Solutions also provides logistics and administrative professionals to the federal government specializing in logistics, office administration, IT, and facilities/warehouse management.

Table of Contents

Through competitively awarded contracts and task orders (including its LOGWORLD contract) DLH Solutions has developed a strong portfolio of logistics processes, personnel and tools to help its clients achieve nationally recognized awards for customer satisfaction. While the DVA is its largest customer in this area, the Company has taken steps to expand in adjacent logistics markets within DoD and other federal agencies. In fiscal 2011, over 50% of our revenue was derived from the Logistics & Technical Services business unit.

Contingency/Staff Augmentation

The Contingency/Staff Augmentation business unit provides disaster and emergency response services and civilian workforce augmentation services. For example, the Company’s outstanding track record of response during hurricanes Rita and Katrina demonstrated its ability to support major federal and DoD opportunities in this area. General staffing and selective recruitment process outsourcing are key components of this service area. Less than 5% of fiscal 2011 revenue was derived from the Contingency/Staff Augmentation line of service.

Management believes that streamlining the Company’s strategic focus around these three business units enables us to better aligns its resources and make prudent investment decisions built around a cohesive set of goals and objectives. Equally important in this strategic alignment process is the decision to exit markets where the cost to entry was high and the profit margins too low. .

Recent Business Trends

The Company continues to focus on executing its strategy developed in fiscal 2010 to build upon its healthcare and logistics competencies and align its growth prospects with what continue to be some of the stronger budget areas on both Capitol Hill and within the Pentagon. Though our nation’s economy continues to create headwinds for all markets, management has found that many government services industry analysts project a favorable market outlook particularly in select segments. Shortly after Defense Secretary Leon Panetta publicly briefed the DoD Budget priorities, TeamStaff management met with the Deputy Secretary of Defense to further address these national priorities. Management continues to believe that the federal government healthcare budget including the Military Healthcare Systems and Veterans Administration missions remain a top priority and offer addressable and sustainable growth opportunities for the company.

Results of Operations

The following table summarizes, for the periods indicated, selected consolidated statements of operations data expressed as a percentage of revenue:

	For the three months ended
	December		December
Condensed Consolidated Statement of Operations:	2011		2010

Revenues	100.0	%	100.0	%
Direct Expenses	86.4	%	87.5	%
Gross Profit	13.6	%	12.5	%
General and administrative	15.3	%	14.8	%
Depreciation and amortization expense	0.2	%	0.3	%
Loss from operations	-1.9	%	-2.6	%
Other income (expense)	-1.5	%	-0.6	%
Loss from continuing operations before tax	-3.4	%	-3.2	%
Income tax expense	0.0	%	0.0	%
Loss from continuing operations	-3.4	%	-3.2	%
Gain (loss) from discontinued operation	0.0	%	0.0	%
Net loss	-3.4	%	-3.2	%

Table of Contents

Revenues

Revenues from TeamStaff’s continuing operations for the three months ended December 31, 2011 and 2010 were $11.5 million and $10.6 million, respectively, which represents an increase of $0.9 million or 8.7% despite extended government delays in major awards. The increase in operating revenues is due primarily to new business awards .

Direct Expenses

Direct expenses are generally comprised of direct labor (including benefits), direct material, subcontracts, other direct costs, and overhead. Direct expenses from continuing operations for the three months ended December 31, 2011 and 2010 were $9.9 million and $9.3 million, respectively, which represent an increase of $0.6 million or 7.2%. This increase is primarily a result of increased direct labor expenses. As a percentage of revenue from continuing operations, direct expenses were 86.4% and 87.5%, respectively.

Gross Profit

Gross profit for the three months ended December 31, 2011 and 2010 was $1.6 million and $1.3 million, respectively, which represents an increase of $0.3 million or 18.9% despite the modest revenue increase. Gross profit from continuing operations, as a percentage of revenue, was 13.6% and 12.5%, for the three months ended December 31, 2011 and 2010, respectively. The key driver for the period over period increase in gross profit (as a percentage of revenue) was improved project management on major contracts.

General and Administrative Expenses

General and administrative (“G&A”) primarily relates to functions such as corporate management, legal, finance, accounting, contracts, administration, human resources, management information systems, and business development. G&A expenses for the three months ended December 31, 2011 and 2010 were $1.8 million and $1.6 million, respectively, which represent an increase of $0.2 million, or 12.2%. The difference is attributed largely to costs and investments associated with startup of work under new contracts in three different states during the quarter, issuance of non-cash stock grants, and expanded new business development activity..

Depreciation and Amortization

Depreciation and amortization expense was approximately $23,000 and $31,000 for the three months ended December 31, 2011 and 2010, respectively.

Loss from Operations

Loss from operations for the three months ended December 31, 2011 was $0.2 million as compared to loss from operations for the three months ended December 31, 2010 of $0.3 million. This represents an improvement of $0.1 million in results from operations. The improvement is due primarily to increased gross profit.

Other Expense

Other expense was $0.2 million and $0.1 million, for the three months ended December 31, 2011 and 2010, respectively. Interest expense for the three months ended December 31, 2011 and 2010 was approximately $77,000 and $45,000, respectively. The increase in interest expense was due to increased utilization of the credit facility and the interest on the convertible debentures. Also there was an increase in the fair value ascribed to the derivative financial instruments associated with our warrants and convertible debentures in the amount of $56,000. Amortization of deferred financing costs was $46,000 and $0 for the three months ended December 31, 2011 and 2010, respectively.

Table of Contents

Income Tax

The Company provided a 100% deferred tax valuation allowance because it believes that it cannot be considered more likely than not that it will be able to realize the full benefit of the deferred tax asset. The Company determined that negative evidence, including historic and current taxable losses, as well as uncertainties related to the ability to utilize certain Federal and state net loss carry forwards, outweighed any objectively verifiable positive factors, and as such, concluded that a valuation allowance was necessary. In assessing the need for a valuation allowance, the Company historically has considered all positive and negative evidence, including scheduled reversals of deferred tax liabilities, prudent and feasible tax planning strategies and recent financial performance. In the three months ended December 31, 2011 and 2010, the Company recognized no tax expense.

Loss from Continuing Operations

Loss from continuing operations for the three months ended December 31, 2011 was $0.4 million, or ($0.06) per basic and diluted share, as compared to loss from continuing operations of $0.3 million, or ($0.07) per basic and diluted share for the three months ended December 31, 2010.

Net Loss

Net loss for the three months ended December 31, 2011 $0.4 million, or ($0.06) per basic and diluted share, as compared to net loss of $0.3 million, or ($0.07) per basic and diluted share for the three months ended December 31, 2010.

Other Data

Earnings (Loss) Before Interest Tax Depreciation and Amortization (“EBITDA”) adjusted for other non-cash charges (“Adjusted EBITDA”(1)) for the three months ended December 31, 2011 was ($16,000) as compared to ($179,000) for the three months ended December 31, 2010, which shows an improvement of $163,000 and primarily reflects the increased gross profit earned on the increased revenues.

Potential Contractual Billing Adjustments

DLH Solutions is currently seeking approval from the Federal government for gross profit on retroactive billing rate increases associated with certain government contracts covered by the Service Contract Act. These adjustments are due to changes in the contracted wage determination rates for employees. A wage determination is the listing of wage rates and fringe benefit rates for each classification of laborers whom the Administrator of the Wage and Hour Division of the U.S. Department of Labor (“DOL”) has determined to be prevailing in a given locality. Contractors performing services for the Federal government under certain contracts are required to pay service employees in various classes no less than the wage rates and fringe benefits found prevailing in these localities. An audit by the DOL in 2008 at one of the facilities revealed that notification, as required by contract, was not provided to DLH Solutions in order to effectuate the wage increases in a timely manner. Wages for contract employees on assignment at the time have been adjusted prospectively to the prevailing rate and hourly billing rates to the DVA have been increased accordingly. During the fiscal year ended September 30, 2008, TeamStaff recognized nonrecurring revenues of $10.8 million and direct costs of $10.1 million, based on amounts that are contractually due under its arrangements with the Federal agencies. At December 31 and September 30, 2011, the amount of the remaining accounts receivable with the DVA approximates $9.3 million. The Company has been and continues to be in discussions with representatives of the DVA and the DOL regarding the matter and currently anticipates resolution during fiscal 2012. The Company is currently in the process of negotiating a final amount related to indirect costs and fees applied to these amounts. As such, there may be additional revenues recognized in future periods once the approval for such additional amounts is obtained. The ranges of additional indirect costs and fees are estimated to be between $0.4 million and $0.6 million. At present, the Company expects to collect such amounts during fiscal 2012 based on current discussions and collection efforts. Because these amounts are subject to government review, no assurances can be given that we will receive any additional amounts from our government contracts or that if additional amounts are received, that the amount will be within the range specified above.

(1) We present Adjusted EBITDA as a supplemental non-GAAP measure of our performance. We define Adjusted EBITDA as net loss from continuing operations plus (i) interest and other expenses, net, (ii) provision for or benefit from income taxes, if any, (iii) depreciation and amortization, (iv) G&A expenses — equity grants, and (v) impairment charges. This non-GAAP measure of our performance is used by management to conduct and evaluate its business during its regular review of operating results for the periods presented. Management and the Company’s Board utilize this non-GAAP measure to make decisions about the use of the Company’s resources, analyze performance between periods, develop internal projections and measure management performance. We believe that this non-GAAP measure is useful to investors in evaluating the Company’s ongoing operating and financial results and understanding how such results compare with the Company’s historical performance. By providing this non-GAAP measure, as a supplement to GAAP information, we believe we are enhancing investors’ understanding of our business and our results of operations. This non-GAAP financial measure is limited in its usefulness and should be considered in addition to, and not in lieu of, US GAAP financial measures. Further, this non-GAAP measure may be unique to the Company, as it may be different from the definition of non-GAAP measures used by other companies. A reconciliation of Adjusted EBITDA with net loss from continuing operations is as follows:

	For the three months ended 31 December
	2011			2010
Net loss from continuing operations	$	(389	)	$	(337	)
(i) Interest and other expenses (net)	179			62
(ii) provision for taxes	—			—
(iii) amortization and depreciation,	23			31
(iv) G&A expenses —equity grants	171			65
(v) impairment charges	—			—
EBITDA adjusted for other non-cash charges	$	(16	)	$	(179	)

Table of Contents

Liquidity and Capital Resources; Commitments

At December 31, 2011 the Company had a net working capital deficit of approximately $3.7 million and an accumulated deficit of approximately $65.8 million. For the three months ended December 31, 2011, the Company incurred an operating loss and net loss of approximately $0.2 million and $0.3 million, respectively. The Company has a limited amount of cash and cash equivalents at December 31, 2011 and will be required to rely on operating cash flow and periodic funding, to the extent available, from its line of credit to sustain the operations of the Company unless it elects to pursue and is successful in obtaining additional debt or equity funding, as discussed below, or otherwise.

In an effort to improve the Company’s cash flows and financial position, in fiscal 2011 the Company completed measures to enhance its liquidity by approximately $1,000,000 as a result of increasing the maximum availability of its credit facility and receiving funding of and/or commitments for additional equity and/or debt financing. In that regard, our largest shareholder, Wynnefield Capital, Inc., and certain of our directors and executive officers collectively provided $500,000 of additional capital to the Company. As described in Note 7, $150,000 of such capital was provided on March 31, 2011through equity investment and $350,000 of such capital was provided in July 2011 by Wynnefield Capital through the sale of convertible debentures. The debentures are convertible into shares of our common stock at an initial rate of $1.30, subject to adjustment for certain customary events and in accordance with a weighted-average anti-dilution formula, subject to certain exclusions. In addition, as described in Note 6, on February 9, 2011, the Company entered into an amendment of its Loan and Security Agreement with Presidential Financial Corporation, pursuant to which they agreed to increase the maximum availability under the Loan and Security Agreement by an additional $500,000 and provide an unbilled receivable facility within the limits of the Loan and Security Agreement. Following this increase, the maximum availability under this loan facility is $3,000,000; subject to eligible accounts receivable. At December 31, 2011, the amount available was $438,000. In addition, as described in greater detail below, the parties agreed to amend certain other provisions of the Loan Agreement, including an extension of the term of the Loan Agreement for an additional year and the Lender agreed not to seek to terminate the Loan Agreement without cause until after February 29, 2012, which date has subsequently been amended to December 31, 2012. In addition, pursuant to its current credit facility, the financial institution also has the ability to terminate the Company’s line of credit immediately upon the occurrence of a defined event of default, including among others, a material adverse change in the Company’s circumstances or if the financial institution deems itself to be insecure in the ability of the Company to repay its obligations or, as to the sufficiency of the collateral. At present, the Company has not experienced and the financial institution has not declared an event of default.

Table of Contents

extend payment terms with suppliers, liquidate assets where possible, and/or to suspend or curtail planned programs. Any of these actions could materially harm the Company’s business, financial position, results of operations and future prospects. Due to the foregoing there could be a future need for additional capital and the Company may pursue equity, equity-based and/or debt financing alternatives or other financing in order to raise any needed funds. If the Company raises additional funds by selling shares of common stock or convertible securities, the ownership of its existing shareholders would be diluted.

Presently, the Company derives all of its revenue from agencies of the Federal government and the Company has derived a substantial portion of its revenues through various contracts awarded by the DVA. On November 1, 2011, the Company commenced work under a single source Blanket Purchase Agreement with the DVA awarded to the Company in May 2011 and that represents both retention of existing work and expansion of new business at additional DVA locations. The maximum total value under this award is presently expected to be approximately $145,000,000 pursuant to site-specific task orders to be rendered by the DVA. The term of the award is for up to five years expiring October 31, 2016. The agreement is subject to the Federal Acquisition Regulations, and there can be no assurance as to the actual amount of services that the Company will ultimately provide under the agreement. This agreement effectively provides for renewal and expansion of contracts that generated, in aggregate, approximately 45% of its revenue in the year ended September 30, 2011, in respect of which the Company previously held order cover through December 31, 2011 under existing contracts. In addition, the Company also holds contractual order cover through various dates in fiscal 2012 in respect of DVA contracts that generated close to a further 50% of its revenue in the year ended September 30, 2011, which are not currently the subject of requests for proposals and may in due course be further extended by the DVA on a sole source basis, although no assurances can be given that this will occur. The Company’s results of operations, cash flows and financial condition would be materially adversely affected in the event that we are unable to continue our relationships with the DVA of suffer a significant diminution in the quantity of services that they procure from the Company.

Cash from operating activities

Net cash used in operating activities for the three months ended December 31, 2011 was $1.3 million principally due to an increase in accounts receivable due to the slowdown in cash collections that historically occurs during the end of December. The net cash used in operating activities for the three months ended December 31, 2010 was $2.0 million.

Cash from investing activities

Net cash used in investing activities for the three months ended December 31, 2011 of $34,000 was principally due to capital expenditures. The cash provided by investing activities for the three months ended December 31, 2010 was $9,000.

Cash from financing activities

Net cash provided by financing activities for the three months ended December 31, 2011 was $1.1 and $1.4 million for the three months ended December 31, 2010. The decrease was primarily due to lower advances on the credit facility.

Loan Facility

Table of Contents

Interest on the loan initially accrued on the daily unpaid balance of the loan advances secured by billed receivables at the greater of one point ninety-five percent (1.95%) above the Prime Rate (as published in effect in The Wall Street Journal from time to time) or at the rate of three point two-five percent (3.25%) per annum. However, pursuant to the February 2011 amendment, the Company agreed with the Lender to adjust the rate of interest chargeable under the Loan and Security Agreement to be the greater of (a) 3.25% or (b) (i) 1.95% above the Wall Street Journal Prime rate on the accounts receivable portion of the credit line and (ii) 3.95% above the Wall Street Journal Prime rate on the unbilled accounts portion. The interest rate at December 31, 2011 was 5.2%. In addition, DLH Solutions will pay certain other related fees and expense reimbursements including a monthly service charge of 0.65% based on the average daily loan balance which shall accrue daily and be due and payable on the last day of each month so long as the Loan Agreement is outstanding. The average daily outstanding balance on the facility for the three months December 31, 2011, was $1.3 million. The interest rate in effect at December 31, 2011 and 2010 was 5.2% and 5.2%, respectively. At December 31, 2011, the amount of the unused availability under the line was $438,000. The amount outstanding on the loan as of December 31, 2011 was $1,832,000.

The Loan Agreement requires compliance with customary covenants and contains restrictions on the Company’s ability to engage in certain transactions. Among other matters, under the loan agreement we may not, without consent of the Lender, (i) merge or consolidate with another entity, form any new subsidiary or acquire any interest in a third party; (ii) acquire any assets except in the ordinary course of business; (iii) enter into any transaction outside the ordinary course of business; (iv) sell or transfer collateral; (v) make any loans to, or investments in, any affiliate or enter into any transaction with an affiliate other than on an arms-length basis; (vi) incur any debt outside the ordinary course of business; (vii) pay or declare any dividends or other distributions; or (viii) redeem, retire or purchase any of our equity interests exceeding $50,000. In addition, the Loan Agreement requires DLH Solutions to maintain a minimum tangible net worth of at least $1,000,000 on a trailing 12-month basis. Further, without the consent of the Lender, the Company is also restricted from making any payments in respect of other outstanding indebtedness. The Lender may terminate the Loan Agreement at any time upon 60 days written notice after February 29, 2012, which date has subsequently been amended to December 31, 2012 and the Loan Agreement provides for customary events of default following which the Lender may, at its option, terminate the loan agreement and accelerate the repayment of any amount outstanding. The defined events of default include, among other things, a material adverse change in the Company’s circumstances, or if the Lender deems itself insecure in the ability of the Company to repay its obligations, or as to the sufficiency of the collateral.

As part of the February 2011 amendment, the Lender also agreed to waive the Company’s non-compliance with the covenant under the Loan Agreement to furnish them with a copy of DLH Solutions’ financial statements within 90 days after the end of its fiscal year. In addition to granting this waiver, the Lender also agreed to modify this covenant to require that the Company provide them, within 90 days after the end of each fiscal year, audited consolidated financial statements of the Company and its subsidiaries as of the end of such fiscal year and, in addition, at the same time, furnish consolidating income statement and balance sheet schedules, including a reconciliation with DLH Solutions’ financial information.

The Company has concurrently executed a Corporate Guaranty Agreement with Lender pursuant to which it has guaranteed all of the obligations of DLH Solutions under the Loan Agreement.

Payroll Taxes

TeamStaff has received notices from the Internal Revenue Service (“IRS”) claiming taxes, interest and penalties due related to payroll taxes predominantly from its former PEO operations which were sold in fiscal 2003. TeamStaff has also received notices from the IRS reporting overpayments of taxes. Management believes that these notices are predominantly the result of misapplication of payroll tax payments between its legal entities. If not resolved favorably, the Company may incur interest and penalties. Until the sale of certain assets related to the former PEO operations, TeamStaff operated through 17 subsidiaries, and management believes that the IRS has not correctly identified payments made through certain of the different entities, therefore leading to the notices. To date, TeamStaff has been working with the IRS to resolve these discrepancies and has had certain interest and penalty claims abated. TeamStaff has also received notices from the Social Security Administration claiming variances in wage reporting compared to IRS transcripts. TeamStaff believes the notices from the Social Security Administration are directly related to the IRS notices received. TeamStaff had retained the services of Ernst & Young LLP as a consultant to assist in resolving certain of these matters with the IRS and Social Security Administration. TeamStaff believes that after the IRS applies all the funds correctly, any significant interest and penalties will be abated; however, there can be no assurance that each of these matters will be resolved favorably. In settling various years for specific subsidiaries with the IRS, the Company has received refunds for those specific periods; however, as the process of settling and concluding on other periods and subsidiaries is not yet completed, the potential exists for related penalties and interest and the remaining liability ($1.3 million at December 31, 2011) has been recorded in accounts payable and includes estimated penalties and interest currently sought by the IRS totaling approximately $500,000.

Table of Contents

the future date that this obligation is settled, however, it is not currently possible to estimate what, if any, additional amount(s) may be claimed in future, given the uncertain timing and nature of any future settlement negotiations. No payments were made in fiscal 2011 or fiscal 2012. Management believes that the ultimate resolution of these remaining payroll tax matters will not have a significant adverse effect on its financial position or future results of operations. The Company’s intention is that it will in due course seek to negotiate a mutually satisfactory payment plan with the IRS, but there is no assurance that it would be successful in doing so and the Company’s future cash flows and liquidity could therefore be materially affected by this matter.

Contractual Obligations

			Payments Due By Period
Obligations (Amounts in thousands)	Total		Less than 1 Year		1 - 3 Years		4 - 5 Years
Loan Payable(1)	$	2,549	$	2,549	$	—	$	—
Operating Leases(2)	741		133		463		145
Convertible Debentures	350		—		350		—
Total Obligations	$	3,640	$	2,682	$	813	$	145

(1) Represents the amounts recorded in respect of remaining notes payable related to the acquisition of DLH Solutions, the loan payable due to Presidential in accordance with the loan agreement and capital lease obligations.

(2) Represents lease payments net of sublease income.

Settlement Agreement

TeamStaff, Inc. and DLH Solutions entered into a settlement agreement dated as of July 22, 2011 (the “Agreement”) with Roger Staggs and E. Barry Durham, the former principals of RS Staffing Services, Inc. (together, the “Sellers”). The Sellers are the holders of certain promissory notes issued by TeamStaff, Inc. in the aggregate principal amount of $1,500,000 (the “Notes”). The claims resolved by the Settlement Agreement concern TeamStaff’s claim of indemnification of approximately $1,800,000 arising out of the acquisition by TeamStaff, Inc. of RS Staffing Services, Inc. in June 2005 and certain counterclaims by the Sellers against TeamStaff, including payment under the Notes. Pursuant to the Agreement, the Company paid $200,000 in cash to the Sellers, issued them an aggregate of 300,000 shares of common stock of TeamStaff, Inc., valued at $795,000, the fair value of the stock at July 22, 2011. The Company also agreed to permit the Sellers to resell an aggregate of 201,724 other shares of common stock of TeamStaff, Inc. presently held by them, against which the Company had previously placed a stop order to prevent their resale. The Sellers agreed to orderly sale limitations with respect to their ability to resell all their shares of common stock of TeamStaff, Inc. In accordance with these limits, during the 90 day period commencing on the effective date of the Agreement, neither Seller will resell in excess of 33,000 shares of TeamStaff common stock previously held by them during any 30 day period without the consent of TeamStaff. With respect to the new shares of TeamStaff common stock to be issued pursuant to the Agreement, commencing on the six month anniversary of the effective date of the Agreement, neither will resell in excess of 25,000 shares during any 30 day period without the consent of TeamStaff. In addition, TeamStaff provided guarantees to the Sellers that the net proceeds to be received by them from the resale of all of the shares of common stock of TeamStaff, Inc. sold by them pursuant to the Agreement would not be less than certain minimum guarantees. With respect to the shares of common stock of TeamStaff, Inc. owned by them prior to the effective date of the Agreement (the “Old TeamStaff Shares”), TeamStaff guaranteed to each Seller net proceeds of $100,000 and with respect to the shares of common stock of TeamStaff, Inc. to be issued under the Agreement (the “New TeamStaff Shares”), TeamStaff guaranteed net proceeds of $375,000 to each. The guarantees in respect of the Old TeamStaff Shares were satisfied in full as of September 30, 2011.

The payments of all amounts under the Agreement are secured by the Notes. Upon receipt by the Sellers of (i) the payment of $200,000 made by TeamStaff and (ii) the proceeds realized from the sale of the Old TeamStaff Shares and New TeamStaff Shares, or the guarantees, the Notes shall be deemed satisfied in full. In addition, the parties agreed to release each other from any further claims that either may have against the other, except to enforce the Agreement. At December 31, 2011 the maximum remaining contingent liability under the agreement could potentially reach $750,000.

The remaining liability under the Agreement does not accrue interest. The Company has evaluated the status of the Agreement, including the amount of consideration that are contingently owed to the Sellers, as well as the uncertainties inherent in predicting future market conditions and whether the Sellers are able to realize sufficient proceeds on sales of New TeamStaff Shares to satisfy the Company’s guarantee. Based on such analysis, the Company has concluded at December 31, 2011 that the $711,000 recorded obligation (which approximated to the maximum amount of the guarantee) remaining after issuance of the 300,000 New TeamStaff Shares at a total fair value of $795,000 and the cash payment of $200,000 is reasonable. Although no assurances can be

Table of Contents

given, should the Sellers be able to individually realize proceeds through future sales of New TeamStaff Shares, the Company may reduce the recorded liability in future periods and recognize a gain. There was no gain recognized in fiscal 2011 or the three months ended December 31, 2011.

Off-Balance Sheet Arrangements

We have not created, and are not party to, any special-purpose or off-balance sheet entities for the purpose of raising capital, incurring debt or operating parts of our business that are not consolidated into our financial statements. We do not have any arrangements or relationships with entities that are not consolidated into our financial statements that are reasonably likely to materially affect our liquidity or the availability of our capital resources. We have entered into various agreements by which we may be obligated to indemnify the other party with respect to certain matters. Generally, these indemnification provisions are included in contracts arising in the normal course of business under which we customarily agree to hold the indemnified party harmless against losses arising from a breach of representations related to such matters as intellectual property rights. Payments by us under such indemnification clauses are generally conditioned on the other party making a claim. Such claims are generally subject to challenge by us and to dispute resolution procedures specified in the particular contract. Further, our obligations under these arrangements may be limited in terms of time and/or amount and, in some instances, we may have recourse against third parties for certain payments made by us. It is not possible to predict the maximum potential amount of future payments under these indemnification agreements due to the conditional nature of our obligations and the unique facts of each particular agreement. Historically, we have not made any payments under these agreements that have been material individually or in the aggregate. As of our most recent fiscal year end we were not aware of any obligations under such indemnification agreements that would require material payments.

Effects of Inflation

Inflation and changing prices have not had a material effect on TeamStaff’s net revenues and results of operations, as TeamStaff has been able to modify its prices and cost structure to respond to inflation and changing prices.

Recently Issued Accounting Pronouncements Affecting the Company

ITEM 3: QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

TeamStaff does not undertake trading practices in securities or other financial instruments and therefore does not have any material exposure to interest rate risk, foreign currency exchange rate risk, commodity price risk or other similar risks, which might otherwise result from such practices. TeamStaff is not materially subject to fluctuations in foreign exchange rates, commodity prices or other market rates or prices from market sensitive instruments other than potentially in future periods in regard to certain derivative instruments or embedded features required to be accounted for as derivative instruments as discussed in Note 6 to the accompanying financial statements. TeamStaff believes it does not have a material interest rate risk with respect to our prior workers’ compensation programs. In connection with TeamStaff’s prior workers’ compensation programs, prepayments of future claims were deposited into trust funds for possible future payments of these claims in accordance with the policies. The interest income resulting from these prepayments is for the benefit of TeamStaff, and is used to offset workers’ compensation expense. Interest rates payable on these funds have been relatively static and at a level where any further downward rate adjustments would not be expected to result in a material

Table of Contents

adverse impact on the Company’s exposure to workers’ compensation expense. Teamstaff does not believe the level of exposure to interest rate fluctuations on its debt instruments is material given the amount of debt subject to variable interest rates and the prime rate interest rate floors of at least 3.25% applied by the Lenders.

ITEM 4: CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and Procedures

Our CEO and President and Chief Financial Officer, after evaluating the effectiveness of our disclosure controls and procedures (as defined in Rule 13a-15(e) or 15d-15(e) under the Exchange Act) as of the end of the period covered by this report, has concluded that, based on the evaluation of these controls and procedures, our disclosure controls and procedures were effective at the reasonable assurance level to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the SEC’s rules and forms and that such information is accumulated and communicated to our management, including our CEO and President and Chief Financial Officer, to allow timely decisions regarding required disclosure.

Our management, including our CEO and President and Chief Financial Officer, does not expect that our disclosure controls and procedures or our internal controls will prevent all errors and all fraud. A control system, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met. Further, the design of a control system must reflect the fact that there are resource constraints, and the benefits of controls must be considered relative to their costs. Because of the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, within our company have been detected. Our management, however, believes our disclosure controls and procedures are in fact effective to provide reasonable assurance that the objectives of the control system are met.

Changes in Internal Controls

There have been no changes in the Company’s internal control over financial reporting (as defined in Rule 13a-15(f) under the Exchange Act) that occurred during the Company’s fiscal quarter ended December 31, 2011, that have materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting.

Part II — OTHER INFORMATION

ITEM 1: LEGAL PROCEEDINGS

As a commercial enterprise and employer, we are subject to various claims and legal actions in the ordinary course of business. These matters can include professional liability, employment-relations issues, workers’ compensation, tax, payroll and employee-related matters and inquiries and investigations by governmental agencies regarding our employment practices. We are not aware of any pending or threatened litigation that we believe is reasonably likely to have a material adverse effect on our results of operations, financial position or cash flows.

In connection with its medical staffing business, TeamStaff is exposed to potential liability for the acts, errors or omissions of its temporary medical employees. The professional liability insurance policy provides up to $5.0 million aggregate coverage with a $2.0 million per occurrence limit. Although TeamStaff believes the liability insurance is reasonable under the circumstances to protect it from liability for such claims, there can be no assurance that such insurance will be adequate to cover all potential claims.

ITEM 1A: RISK FACTORS

Our operating results and financial condition have varied in the past and may in the future vary significantly depending on a number of factors. In addition to the other information set forth in this report, you should carefully consider the factors discussed in the “Risk Factors” section in our Annual Report on Form 10-K for the year ended September 30, 2011 for a discussion of the risks associated with our business, financial condition and results of operations. These factors, among others, could have a material adverse effect upon our business, results of operations, financial condition or liquidity and cause our actual results to differ materially from those contained in statements made in this report and presented elsewhere by management from time to time. The risks identified by TeamStaff in its reports are not the only risks facing us. Additional risks and uncertainties not currently known to us or that we currently believe are immaterial also may materially adversely affect our business, results of operations, financial condition or liquidity. We believe there have been no material changes in our risk factors from those disclosed in our Annual Report on Form 10-K for the fiscal year ended September 30, 2011.

Table of Contents

ITEM 2: UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

During the period covered by this report, the Company did not issue any securities that were not registered under the Securities Act of 1933, as amended, except as has been reported in previous filings with the SEC or as set forth herein. As of October 13, 2011, the Company granted an aggregate of 53,750 shares of restricted stock to our non-executive directors, consistent with our compensation policy for non-executive directors. These shares were issued pursuant to the exemption from registration provided by Section 4(2) of the Securities Act of 1933, as amended.

In October 2011, we granted warrants to purchase 20,000 shares of common stock to a consultant for services, which warrants will expire in October 2016. These warrants have an exercise price of $2.28 per share and vest in two equal annual installments commencing on the first anniversary of the grant date. These warrants were issued pursuant to the exemption from registration provided by Section 4(2) of the Securities Act of 1993, as amended.

ITEM 3: DEFAULTS UPON SENIOR SECURITIES

None.

ITEM 4: MINE SAFETY DISCLOSURES

Not applicable.

ITEM 5: OTHER INFORMATION

None.

ITEM 6: EXHIBITS

Exhibits to this report which have previously been filed with the Commission incorporated by reference to the document referenced the following table.

Exhibit		Incorporated by Reference			Filed
Number	Exhibit Description	Form	Dated	Exhibit	Herewith

4.1	Form of Warrant Issued in October 2011				X

31.1	Certification of Chief Executive Officer pursuant to Section 17 CFR 240.13a-14(a) or 17 CFR 240.15d-14(a)				X

31.2	Certification of Chief Financial Officer pursuant to Section 17 CFR 240.13a-14(a) or 17 CFR 240.15d-14(a)				X

32.1	Certification of Chief Executive Officer and Chief Financial Officer pursuant to 17 CFR 240.13a-14(b) or 17 CFR 240.15d-14(b) and Section 1350 of Chapter 63 of Title 18 of the United States Code				X

101*	The following financial information from the TeamStaff, Inc. Quarterly Report on Form 10-Q for the fiscal quarter ended December 31, 2011, formatted in XBRL (eXtensible Business Reporting Language) and furnished electronically herewith: (i) the Consolidated Balance Sheets; (ii) the Consolidated Statements of Operations; (iii) the Consolidated Statements of Cash Flows; and, (iv) the Notes to the Consolidated Financial Statements, tagged as blocks of text.				X


*	Pursuant to Rule 406T of Regulation S-T, these interactive data files are deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, are deemed not filed for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, and otherwise are not subject to liability under those sections.

Table of Contents

Signatures

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.

	TEAMSTAFF, INC.

	By:	/s/ Zachary C. Parker
		Zachary C. Parker
		Chief Executive Officer
		(Principal Executive Officer)

	By:	/s/ John E. Kahn
		John E. Kahn
		Chief Financial Officer
		(Principal Accounting Officer)

Dated: February 14 , 2012

EX-4.1 2 a12-2662_1ex4d1.htm EX-4.1

Exhibit 4.1

NEITHER THIS WARRANT NOR THE SECURITIES ISSUABLE UPON EXERCISE THEREOF HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR QUALIFIED UNDER ANY STATE SECURITIES LAWS. NO SALE OR DISPOSITION OF THIS WARRANT OR ANY SUCH SECURITIES MAY BE EFFECTED EXCEPT (i) PURSUANT TO EFFECTIVE REGISTRATION STATEMENTS RELATED THERETO, (ii) PURSUANT TO AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT AN APPLICABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF SUCH ACT AND SUCH LAWS, OR (iii) FOLLOWING RECEIPT OF NO-ACTION LETTERS FROM THE APPROPRIATE GOVERNMENTAL AUTHORITIES.

THE TRANSFERABILITY OF THIS WARRANT IS

RESTRICTED AS PROVIDED IN SECTION 3

Warrant No. 2011-3

Number of Shares of Common Stock: 20,000

TEAMSTAFF, INC.

COMMON STOCK PURCHASE WARRANT

For good and valuable consideration, the receipt of which is hereby acknowledged by TEAMSTAFF, INC., a New Jersey corporation (the “Company”), (the “Holder”), is hereby granted the right to purchase, at any time from the 13th day of October, 2011 (the “Issue Date”) until 5:00 P.M., New York City time, on October 13, 2016 (the “Warrant Exercise Term”), up to TWENTY THOUSAND (20,000) fully-paid and non-assessable shares of the Company’s Common Stock, $0.001 par value per share (“Common Stock”), subject to and in accordance with the vesting provisions set forth below in Section 1.1.

l. Exercise of Warrant

1.1 Exercise Price, Vesting and Mechanics of Exercise.

(a) Subject to the satisfaction of the vesting conditions set forth in Section 1.1(b) of this Warrant, during the Warrant Exercise Term, this Common Stock purchase warrant (the “Warrant”) shall be exercisable at a per share price of $2.28 (the “Exercise Price”), subject to adjustment as provided in Section 2 hereof, payable in cash or by certified or official bank check in New York Clearing House funds. Subject to the vesting conditions set forth below, the rights represented by this Warrant may be exercised in whole or in part at any time during the Warrant Exercise Term, upon surrender of the original of this warrant certificate with the annexed Notice of Exercise duly executed, together with payment of the Exercise Price for the shares of Common Stock purchased at the Company’s principal executive offices. Upon the occurrence of all of such events, the registered Holder of the Warrant shall be entitled to receive a certificate or certificates for the shares of Common Stock so purchased (the “Warrant Shares”). This Warrant may be exercised by the Holder as to the whole or any lesser number of an aggregate of the Warrant Shares covered hereby in accordance with the vesting requirements set forth in Section 1.1(b) of this Warrant.

(b) Subject to the provisions of Section 1.2 of this Warrant, provided Holder is performing services to the Company pursuant to that certain Retainer Agreement between the Company and the original Holder dated on or about June 25, 2005 (the “Agreement”), then: (i) on and after the first anniversary of the Issue Date (the “Initial Vesting Date”), this Warrant shall be

exercisable for 10,000 of the Warrant Shares covered by this Warrant and (ii) on and after the second anniversary of the Issue Date (the “Final Vesting Date”), this Warrant shall be exercisable for all of the Warrant Shares covered by this Warrant. Once vested, the Holder of this Warrant may exercise the purchase rights set forth herein until the expiration of the Warrant Exercise Term or such earlier date as set forth elsewhere in this Warrant.

(c) The purchase rights represented by this Warrant are exercisable at the option of the Holder hereof, in whole or in part (but not as to fractional shares of the Common Stock) during any period in which this Warrant may be exercised as set forth above. In the case of the purchase of less than all the shares of Common Stock purchasable under this Warrant, the Company shall cancel this Warrant upon the surrender thereof and, upon the written request of the Holder, the Company shall execute and deliver a new Warrant of like tenor for the balance of the shares of Common Stock purchasable hereunder.

1.2 Early Termination of Warrant Exercise Term.

(a) In the event that prior to the Initial Vesting Date, (a) the original Holder determines to terminate the Agreement for any reason, or (b) the Company determines to terminate the Agreement other than for its convenience, than this Warrant shall immediately terminate in its entirety. In the event that after the Initial Vesting Date, but prior to the Final Vesting Date, (a) the original Holder determines to terminate the Agreement for any reason, or (b) the Company determines to terminate the Agreement other than for its convenience, than the unvested portion of this Warrant shall immediately terminate, but the portion of this Warrant which vested on the Initial Vesting Date shall remain exercisable.

(b) In the event that the Company terminates the Agreement for its convenience, then the portion of this Warrant that would next be scheduled to vest shall immediately vest on the effective date of the termination of the Agreement and this Warrant shall remain exercisable with respect to such Warrant Shares. If the termination for convenience occurs prior to the Initial Vesting Date, than this Warrant shall only be exercisable for 10,000 of the Warrant Shares. However, if the termination for convenience occurs after the Initial Vesting Date, but prior to the Final Vesting Date, than this Warrant shall be exercisable for all of the Warrant Shares.

1.3 Delivery of Warrant Shares. Certificates for Warrant Shares purchased hereunder shall be transmitted by the transfer agent of the Company to the Holder by physical delivery to the address specified by the Holder in the Notice of Exercise within three business days from the delivery to the Company of the Notice of Exercise, surrender of this Warrant and payment of the aggregate Exercise Price as set forth above. This Warrant shall be deemed to have been exercised on the date on which this Warrant is surrendered and payment of the Exercise Price is received by the Company. The Warrant Shares shall be deemed to have been issued, and Holder or any other person so designated to be named therein shall be deemed to have become a holder of record of such shares for all purposes, as of the date on which all of the criteria described in the immediately preceding sentence have occurred, irrespective of the date of delivery of such certificate or certificates, except that, if the date of such surrender and payment is a date when the stock transfer books of the Company are closed, such person shall be deemed to have become the holder of such shares at the close of business on the next succeeding date on which the stock transfer books are open.

1.4 Transfer Taxes. The issuance of certificates for shares of Common

Stock upon the exercise of this Warrant shall be made without charge to the Holder hereof of any Federal and state stamp, original issue or similar taxes which may be payable in respect of the issue of any Warrant Share. Certificates representing Warrant Shares shall be issued in the name of, or in such names as may be directed by, the Holder hereof; provided, however, that the Company shall not be required to pay any tax which may be payable in respect of any transfer involved in the issuance and delivery of such certificate in a name other than that of the Holder and the Company shall not be required to issue or deliver such certificates unless or until the person or persons requesting the issuance thereof shall have paid to the Company the amount of such tax or shall have established to the satisfaction of the Company that such tax has been paid.

1.5 Covenants by Company. The Company covenants that it will at all times reserve and keep available out of its authorized Common Stock, solely for the purpose of issuance upon exercise of this Warrant as herein provided, such number of shares of Common Stock as shall then be issuable upon the exercise of this Warrant. The Company covenants that all shares of Common Stock which shall be so issuable shall be duly and validly issued and fully-paid and non-assessable.

2. Adjustments and Extraordinary Events

2.1 Stock Dividends, Subdivisions, Reclassifications or Combinations. If the Company, at any time while this Warrant is outstanding: (i) pays a stock dividend or otherwise makes a distribution or distributions on shares of its Common Stock or any other equity or equity equivalent securities payable in shares of Common Stock (which, for avoidance of doubt, shall not include any shares of Common Stock issued by the Company upon exercise of this Warrant), (ii) subdivides outstanding shares of Common Stock into a larger number of shares, (iii) combines (including by way of reverse stock split) outstanding shares of Common Stock into a smaller number of shares, or (iv) issues by reclassification of shares of the Common Stock any shares of capital stock of the Company, then in each case the Exercise Price shall be multiplied by a fraction of which the numerator shall be the number of shares of Common Stock (excluding treasury shares, if any) outstanding immediately before such event and of which the denominator shall be the number of shares of Common Stock outstanding immediately after such event, and the number of shares issuable upon exercise of this Warrant shall be proportionately adjusted such that the aggregate Exercise Price of this Warrant shall remain unchanged. Any adjustment made pursuant to this Section 2.1 shall become effective immediately after the record date for the determination of stockholders entitled to receive such dividend or distribution and shall become effective immediately after the effective date in the case of a subdivision, combination or re-classification.

2.2 Reorganization, Reclassification, Merger, Consolidation or Disposition of Assets. If during the Warrant Exercise Term (i) the Company shall reorganize its capital, reclassify its capital stock, consolidate or merge with or into another corporation (where the Company is not the surviving corporation or where there is a change in or distribution with respect to the Common Stock of the Company); (ii) any tender offer or exchange offer (whether by the Company or another individual or entity) is completed pursuant to which holders of Common Stock are permitted to tender or exchange their shares for other securities, cash or property; (iii) the Company shall sell, transfer or otherwise dispose all or substantially all of its property, assets or business to another corporation and, pursuant to the terms of such reorganization, reclassification, merger, consolidation, tender or exchange offer, or disposition of assets, shares of common stock of the successor or acquiring corporation, or any cash, shares of stock or other securities or property of any nature whatsoever (including warrants or other subscription or purchase rights) in addition to or in lieu of common stock of the successor or

acquiring corporation (“Other Property”), are to be received by or distributed to the holders of Common Stock of the Company, then the Holder shall have the right thereafter to receive, upon exercise of this Warrant, the number of shares of common stock of the successor or acquiring corporation or of the Company, if it is the surviving corporation, and Other Property receivable upon or as a result of such reorganization, reclassification, merger, consolidation, tender or exchange offer, or disposition of assets by a Holder of the number of shares of Common Stock for which this Warrant is exercisable immediately prior to such event. In case of any such reorganization, reclassification, merger, tender or exchange offer, consolidation or disposition of assets (“Extraordinary Transaction”), the successor or acquiring corporation (if other than the Company) shall expressly assume the due and punctual observance and performance of each and every covenant and condition of this Warrant to be performed and observed by the Company and all the obligations and liabilities hereunder, subject to such modifications as may be deemed appropriate (as determined in good faith by resolution of the Board of Directors of the Company) in order to provide for adjustments of Warrant Shares for which this Warrant is exercisable which shall be as nearly equivalent as practicable to the adjustments provided for in this Section 2.2. As soon as commercially practicable following the Extraordinary Transaction, the successor or acquiring corporation (if other than the Company), shall deliver to Holder a new warrant in repacement of this Warrant consistent with the provisions referenced in the immediately preceding sentence against receipt by such successor or acquiring corporation of the original of this Warrant. For purposes of this Section 2.2, “common stock of the successor or acquiring corporation” shall include stock of such corporation of any class which is not preferred as to dividends or assets over any other class of stock of such corporation and which is not subject to redemption and shall also include any evidences of indebtedness, shares of stock or other securities which are convertible into or exchangeable for any such stock, either immediately or upon the arrival of a specified date or the happening of a specified event and any warrants or other rights to subscribe for or purchase any such stock. The foregoing provisions of this Section 2.2 shall similarly apply to successive reorganizations, reclassifications, mergers, tender or exchange offers, consolidations or disposition of assets.

2.3 Notice of Adjustment. Whenever the number of Warrant Shares or number or kind of securities or other property purchasable upon the exercise of this Warrant or the Exercise Price is adjusted in accordance with this Section 2, as herein provided, the Company shall give prior written notice thereof to the Holder of at least 15 days prior to the date on which the Company closes its books or takes a record for determining the particular event, which notice shall state the number of Warrant Shares (and other securities or property) purchasable upon the exercise of this Warrant and the Exercise Price of such Warrant Shares (and other securities or property) after such adjustment, setting forth a brief statement of the facts requiring such adjustment and setting forth the computation by which such adjustment was made.

3. Restrictions on Transfer

(a) The Holder acknowledges that he has been advised by the Company that this Warrant and the Warrant Shares issuable upon exercise thereof (collectively the “Securities”) have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), that the Warrant is being issued, and the shares issuable upon exercise of the Warrant will be issued, on the basis of the statutory exemption provided by section 4(2) of the Securities Act relating to transactions by an issuer not involving any public offering, and that the Company’s reliance upon this statutory exemption is based in part upon the representations made by the Holder contained herein. The Holder acknowledges that he has been informed by the Company of, or is otherwise familiar with, the nature of the limitations imposed by the Securities Act and the rules and regulations thereunder on the transfer of securities. In particular, the Holder agrees that no sale,

assignment or transfer of the Securities shall be valid or effective, and the Company shall not be required to give any effect to any such sale, assignment or transfer, unless (i) the sale, assignment or transfer of the Securities is registered under the Securities Act, and the Company has no obligations or intention to so register the Securities except as may otherwise be provided herein, or (ii) the Securities are sold, assigned or transferred in accordance with all the requirements and limitations of Rule 144 under the Securities Act or such sale, assignment, or transfer is otherwise exempt from registration under the Securities Act. The Holder represents and warrants that he has acquired this Warrant and will acquire the Securities for his own account for investment and not with a view to the sale or distribution thereof or the granting of any participation therein, and that he has no present intention of distributing or selling to others any of such interest or granting any participation therein. The Holder acknowledges that the Warrant and Warrant Shares must be held indefinitely unless a subsequent disposition thereof is registered under the Securities Act or registered or qualified under any applicable state securities or “blue-sky” laws or is exempt from registration and/or qualification. The Holder has no need for liquidity in its investment in the Company, and is able to bear the economic risk of such investment for an indefinite period and to afford a complete loss thereof. The Holder is an “accredited investor” as such term is defined in Rule 501 (the provisions of which are known to the Holder) promulgated under the Act.

The Holder acknowledges that the securities shall bear the following legend:

“THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933. SUCH SECURITIES MAY NOT BE SOLD OR OFFERED FOR SALE, TRANSFERRED, HYPOTHECATED OR OTHERWISE ASSIGNED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT WITH RESPECT THERETO UNDER SUCH ACT OR AN OPINION OF COUNSEL TO THE COMPANY THAT AN EXEMPTION FROM REGISTRATION FOR SUCH SALE, OFFER, TRANSFER, HYPOTHECATION OR OTHER ASSIGNMENT IS AVAILABLE UNDER SUCH ACT.”

(b) Disposition of Warrant or Warrant Shares. With respect to any offer, sale or other disposition of this Warrant or any shares of Common Stock acquired pursuant to the exercise of this Warrant prior to registration of such Warrant or shares of Common Stock, the Holder agrees to give written notice to the Company prior thereto, describing briefly the manner thereof, together with evidence, reasonably satisfactory to the Company (which shall include such representation of the transferee regarding investment intent as the Company may request, to the effect that such offer, sale or other disposition may be effected without registration or qualification under the Act as then in effect or any federal or state securities law then in effect) of this Warrant or such shares of Common Stock and indicating whether or not under the Act certificates for this Warrant or such shares of Common Stock to be sold or otherwise disposed of require any restrictive legend as to applicable restrictions on transferability in order to ensure compliance with such law. Upon receiving such written notice and reasonably satisfactory evidence, the Company, as promptly as practicable but no later than seven (7) days after receipt of the written notice, shall notify the Holder that the Holder may sell or otherwise dispose of this Warrant or such shares of Common Stock, all in accordance with the terms of the notice delivered to the Company. If the Company determines that the evidence is not reasonably satisfactory to the Company, the Company shall so notify the Holder promptly with details thereof after such determination has been made. Notwithstanding the foregoing, any shares of Common Stock issued upon exercise of this Warrant or such shares of Common Stock may be offered, sold or otherwise disposed of in accordance with Rule 144 under the Act and in compliance with the applicable statutory resale restrictions imposed by applicable securities laws, provided that the

Company shall have been furnished with such information as the Company may reasonably request to provide a reasonable assurance that the provisions of Rule 144 and the applicable resale restrictions imposed by the securities laws have been satisfied. Each certificate representing this Warrant or the shares of Common Stock thus transferred shall bear a legend as to the applicable restrictions on transferability in order to ensure compliance with such laws, unless pursuant to an opinion of counsel for the Holder, such legend is not required in order to ensure compliance with such laws. The Company may issue stop transfer instructions to its transfer agent in connection with such restrictions. Notwithstanding anything to the contrary set forth herein, in no event may the Holder transfer this Warrant, or any interest in or to this Warrant, prior to the Final Vesting Date, unless the Company consents to such transfer.

4. Piggyback Registration Rights.

4.1 Registration. If at any time during the Warrant Exercise Term, the Company shall determine to prepare and file with the Commission a registration statement under the Securities Act of 1933, as amended (the “Securities Act”) relating to an offering for its own account or the account of others under the Securities Act of any of its equity securities, other than a registration statement on Form S-4 or Form S-8 (each as promulgated under the Securities Act) or their then equivalents relating to equity securities to be issued solely in connection with any acquisition of any entity or business or equity securities issuable in connection with the stock option or other employee benefit plans, then the Company shall send to each holder of this Warrant (a “Holder”) a written notice of such determination and, if within fifteen (15) days after the date of such notice, any such Holder shall so request in writing, the Company shall include in such registration statement all or any part of such Warrant Shares which such Holder requests to be registered, subject to customary underwriter cutbacks applicable to all holders of registration rights, provided that if at any time after giving written notice of its intention to register any securities and prior to the effective date of the registration statement filed in connection with such registration, the Company shall determine for any reason not to register or to delay registration of such securities, the Company may, at its election, give written notice of such determination to such Holder and, thereupon, (A) in the case of a determination not to register, shall be relieved of its obligation to register any Warrant Shares in connection with such registration (but not from its obligation to pay expenses in accordance with Section 4.5 hereof), and (B) in the case of a determination to delay registering, shall be permitted to delay registering any Warrant Shares being registered pursuant to this Section 4(a) for the same period as the delay in registering such other securities. Notwithstanding the foregoing, the Company shall not be required to register any Warrant Shares pursuant to this Section 4(a) that are eligible for resale pursuant to Rule 144(b) promulgated under the Securities Act or that are the subject of a then effective registration statement. For the purpose of the foregoing, inclusion of the Warrant Shares by the Holder in a registration statement under a condition that the offer and/or sale of such Warrant Shares not commence until a date not to exceed 90 days from the effective date of such registration statement shall be deemed to be in compliance with this sub-paragraph.

4.2 Exceptions. The Company shall have no obligation to include Warrant Shares of any Holder in a registration statement pursuant to this Section 4, unless and until such Holder (i) in connection with any underwritten offering, agrees to enter into an underwriting agreement, a custody agreement and power of attorney and any other customary documents required in an underwritten offering all in customary form and containing customary provisions and (ii) shall have furnished the Company with all information and statements about or pertaining to such Holder in such reasonable detail and on such timely basis as is reasonably deemed by the Company to be legally required with respect to the preparation of the registration statement.

4.3 Procedures. The foregoing registration rights shall be contingent on the Holders furnishing the Company with such appropriate information (relating to the intentions of such Holders) as the Company shall reasonably request in writing. Each Holder agrees to furnish to the Company a completed selling security holder questionnaire in such form as is provided by the Company to the Holder not less than two business days prior to date on which the Company files the registration statement (the “Filing Date”). The Company shall not be required to include the Warrant Shares of a Holder in a registration statement for any Holder who fails to furnish to the Company a fully completed questionnaire at least two business days prior to the Filing Date. The Company may require each selling Holder to furnish to the Company a certified statement as to the number of shares of Common Stock beneficially owned by such Holder and, if required by the Commission, the natural persons thereof that have voting and dispositive control over the Shares. Following the effective date of such registration, the Company shall upon the request of any owner of Warrants and/or Warrant Shares forthwith supply such number of prospectuses meeting the requirements of the Securities Act as shall be requested by such owner to permit such Holder to make a public offering of all Warrant Shares from time to time offered or sold to such Holder, provided that such Holder shall from time to time furnish the Company with such appropriate information (relating to the intentions of such Holder) as the Company shall request in writing. The Company shall also use its best efforts to qualify the Warrant Shares for sale in such states as such Holder shall reasonably designate. The Company may withdraw the registration at any time.

4.4 Indemnity. The Company shall indemnify and hold harmless each such Holder and each underwriter, if any, within the meaning of the Securities Act, who may purchase from or sell for any such Holder any Warrant Shares from and against any and all losses, claims, damages and liabilities caused by any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any post-effective amendment thereto or any registration statement under the Securities Act or any prospectus included therein required to be filed or furnished by reason of this Section 4 or caused by any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading except insofar as such losses, claims, damages or liabilities are caused by any such untrue statement or alleged untrue statement or omission or alleged omission based upon information furnished or required to be furnished in writing to the Company by such Holder or underwriter expressly for use therein, which indemnification shall include each person, if any, who controls any such underwriter within the meaning of the Securities Act; provided, however, that the Company shall not be obliged so to indemnify any such Holder or underwriter or controlling person unless such Holder or underwriter shall at the same time agree to indemnify the Company, its directors, each officer signing the related registration statement and each person, if any, who controls the Company within the meaning of the Securities Act, from and against any and all losses, claims, damages and liabilities caused by any untrue statement or alleged untrue statement of a material fact contained in any registration statement or any prospectus required to be filed or furnished by reason of this Section 4 or caused by any omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading insofar as such losses, claims, damages or liabilities are caused by any untrue statement or alleged untrue statement or omission based upon information furnished in writing to the Company by any such Holder or underwriter expressly for use therein.

4.5. Registration Expenses. The Holder thereof shall pay all transfer taxes, if any, relating to the sale of its shares, any registration fees, underwriting discounts or commissions or the equivalent thereof applicable to the sale of its shares and the fees of his own counsel. Other than as described in the preceding sentence, the Company shall pay all expenses incident to the

registration of the Warrant Shares by the Company, including, without limitation, all registration and filing fees, fees and expenses of compliance with securities or blue sky laws, underwriting discounts, fees and expenses (other than any Holder’s portion of the expenses, including any underwriting discounts or commissions or the equivalent thereof), printing expenses, messenger and delivery expenses, and reasonable fees and expenses of counsel for the Company and the independent certified public accountants and other persons retained by the Company.

5. Exercise Limitations.

(a) A Holder shall not have the right to exercise any portion of this Warrant to the extent that after giving effect to such issuance after exercise, such Holder (together with such Holder’s affiliates), as set forth on the applicable Notice of Exercise, would beneficially own in excess of 4.99% of the number of shares of the Common Stock outstanding immediately after giving effect to such issuance. For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by such Holder and its affiliates shall include the number of shares of Common Stock issuable upon exercise of this Warrant with respect to which the determination of such sentence is being made, but shall exclude the number of shares of Common Stock which would be issuable upon (A) exercise of the remaining, nonexercised portion of this Warrant beneficially owned by such Holder or any of its affiliates and (B) exercise or conversion of the unexercised or nonconverted portion of any other securities of the Company (including, without limitation, any other shares of Common Stock or Warrants) subject to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by such Holder or any of its affiliates. Except as set forth in the preceding sentence, for purposes of this Section 4, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), it being acknowledged by a Holder that the Company is not representing to such Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and such Holder is solely responsible for any schedules required to be filed in accordance therewith.

(b) To the extent that the limitation contained in this Section 5 applies, the determination of whether this Warrant is exercisable (in relation to other securities owned by such Holder) and of which a portion of this Warrant is exercisable shall be in the sole discretion of a Holder, and the submission of a Notice of Exercise shall be deemed to be each Holder’s determination of whether this Warrant is exercisable (in relation to other securities owned by such Holder) and of which portion of this Warrant is exercisable, in each case subject to such aggregate percentage limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. For purposes of this Section 5, in determining the number of outstanding shares of Common Stock, a Holder may rely on the number of outstanding shares of Common Stock as reflected in (A) the Company’s most recent Form 10-Q or Form 10-K, as the case may be, (B) a more recent public announcement by the Company or (C) any other notice by the Company or the Company’s transfer agent setting forth the number of shares of Common Stock outstanding. Upon the written or oral request of a Holder, the Company shall within two trading days confirm orally and in writing to such Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including this Warrant, by such Holder or its affiliates since the date as of which such number of outstanding shares of Common Stock was reported. The provisions of this Section 5 may be waived by such Holder, at the election of such Holder, upon not less than 61 days’ prior notice to the Company, and the provisions of this Section 5 shall continue to apply until such 61st day (or such later date, as determined by such Holder, as may be specified in such notice of waiver).

6. Exchange and Replacement of Warrant Certificates.

6.1 Exchanges. This Warrant Certificate is exchangeable without expense, upon the surrender hereof by the registered Holder at the principal executive office of the Company, for a new Warrant Certificate of like tenor and date representing in the aggregate the right to purchase the same number of Warrant Shares in such denominations as shall be designated by the Holder thereof at the time of such surrender.

6.2 Loss, Destruction, Etc. Upon receipt by the Company of evidence reasonably satisfactory to it of the loss, theft, destruction or mutilation of this Warrant Certificate, and, in case of loss, theft or destruction, of indemnity or security reasonably satisfactory to it, and reimbursement to the Company of all reasonable expenses incidental thereto, and upon surrender and cancellation of the Warrants, if mutilated, the Company will make and deliver a new Warrant of like tenor, in lieu thereof and any such lost, stolen, destroyed or mutilated warrant shall thereupon become void.

7. Elimination of Fractional Interests.

The Company shall not be required to issue certificates representing fractions of the shares of Common Stock and shall not be required to issue scrip or pay cash in lieu of fractional interests, it being the intent of the parties that all fractional interests shall be eliminated by rounding any fraction up or down to the nearest whole number of shares of Common Stock.

8. Rights of Warrant Holders.

Nothing contained in this Agreement shall be construed as conferring upon the Holder any rights whatsoever as a stockholder of the Company, either at law or in equity, including without limitation, or Holders the right to vote or to consent or to receive notice as a stockholder in respect of any meetings of stockholders for the election of directors the right to receive dividends or any other matter.

9. Miscellaneous.

9.1 Successors and Assigns. All the covenants and agreements made by the Company in this Warrant shall bind its successors and assigns. This Warrant shall be for the sole and exclusive benefit of the Holder and nothing in this Warrant shall be construed to confer upon any person other than the Holder any legal or equitable right, remedy or claim hereunder.

9.2 Acceptance. Receipt of this Warrant by the Holder shall constitute acceptance of and agreement to all of the terms and conditions contained herein.

9.3 No Recourse. No recourse shall be had for any claim based hereon or otherwise in any manner in respect hereof, against any incorporator, stockholder, officer or director, past, present or future, of the Company or of any predecessor corporation, whether by virtue of any constitutional provision or statute or rule of law, or by the enforcement of any assessment or penalty or in any other manner, all such liability being expressly waived and released by the acceptance hereof and as part of the consideration for the issue hereof.

9.4 Waivers and Amendments. No course of dealing between the Company and the Holder hereof shall operate as a waiver of any right of any Holder hereof, and no delay on

the part of the Holder in exercising any right hereunder shall so operate. This Warrant may be amended or waived only by a written instrument executed by the Company and the Holder hereof. Any amendment shall be endorsed upon this Warrant, and all future Holders shall be bound thereby.

9.5 Notices. All notices required or permitted hereunder shall be in writing and shall be deemed effectively given: (a) upon personal delivery to the party to be notified, (b) when sent by confirmed telex or facsimile if sent during normal business hours of the recipient, if not, then on the next business day, (c) five days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (d) one day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt. All communications shall be sent to the Company at the address listed on the signature page hereto and to Holder at the applicable address set forth on the Agreement or at such other address as the Company or Holder may designate by ten (10) days advance written notice to the other parties hereto.

9.6 Governing Law. The provisions of this Warrant shall in all respects be constructed according to, and the rights and liabilities of the parties hereto shall in all respects be governed by, the laws of the State of New Jersey. This Warrant shall be deemed a contract made under the laws of the State of New Jersey and the validity of this Warrant and all rights and liabilities hereunder shall be determined under the laws of said State.

9.7 Headings. The headings of the Sections of this Warrant are inserted for convenience only and shall not be deemed to constitute a part of this Warrant.

Signature page to Common Stock Purchase Warrant follows.

IN WITNESS WHEREOF, TEAMSTAFF, INC. has caused this Warrant to be executed in its corporate name by its officer, and its seal to be affixed hereto.

Dated: October 13, 2011

	TEAMSTAFF, INC.


	By:
		Name:	Zachary C. Parker
		Title:	Chief Executive Officer


	TeamStaff, Inc.
	1776 Peachtree Street, NW
	Suite 300S
	Atlanta, GA 30309

NOTICE OF EXERCISE

TO:	TeamStaff, Inc.
	1776 Peachtree Street, NW
	Suite 300S
	Atlanta, GA 30309
	Attention: Chief Financial Officer

The undersigned Holder hereby irrevocably elects to exercise the right to purchase shares of Common Stock covered by this Warrant according to the conditions hereof and herewith makes full payment of the Exercise Price of such shares.

Kindly deliver to the undersigned a certificate representing the Shares.

INSTRUCTIONS FOR DELIVERY

Name:
	(please typewrite or print in block letters)

Address:

Tax I.D. No. or Social Security No.:

If such number of shares shall not be all the shares purchasable upon the exercise of the Warrants evidenced by this Warrant, a new warrant certificate for the balance of such Warrants remaining unexercised shall be registered in the name of and delivered to:

Name:
	(please typewrite or print in block letters)

Address:

Tax I.D. No. or Social Security No.:

Dated:

Signature

STATE OF )
COUNTY OF ) ss:

On this day of , before me personally came , to me known, who being by me duly sworn, did depose and say that he resides at , that he is the holder of the foregoing instrument and that he executed such instrument and duly acknowledged to me that he executed the same.


	Notary Public

[FORM OF ASSIGNMENT]

(To be executed by the registered holder if such holder

desires to transfer the Warrant Certificate.)

FOR VALUE RECEIVED, the undersigned Holder of this Warrant hereby sells, assigns and transfers the foregoing Warrant and all rights evidenced thereby to

Name:
	(Please Print)

Address:
	(Please Print)

Tax ID No.:

and does hereby irrevocably constitute and appoint , Attorney, to transfer the within Warrant Certificate on the books of TeamStaff, Inc., with full power of substitution.

NOTE: The signature to this Assignment Form must correspond with the name as it appears on the face of the Warrant, without alteration or enlargement or any change whatever. Officers of corporations and those acting in a fiduciary or other representative capacity should file proper evidence of authority to assign the foregoing Warrant.

Dated:			Holder:


			(Print Name)


			(Signature)

STATE OF )
COUNTY OF ) ss:


	Notary Public

EX-31.1 3 a12-2662_1ex31d1.htm EX-31.1

EXHIBIT 31.1

Certification

I, Zachary C. Parker, certify that:

1.	I have reviewed this quarterly report on Form 10-Q of TeamStaff, Inc.;

2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.	The registrant’s other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

	a)	designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

	b)	designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

	c)	evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

	d)	disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.	The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

	a)	all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

	b)	any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: February 14, 2012


/s/ Zachary C. Parker
Zachary C. Parker
Chief Executive Officer
(Principal Executive Officer)

EX-31.2 4 a12-2662_1ex31d2.htm EX-31.2

EXHIBIT 31.2

Certification

I, John Kahn, certify that:

1.	I have reviewed this quarterly report on Form 10Q of TeamStaff, Inc.;

2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.	The registrant’s other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

	a)	designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

	b)	designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

	c)	evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

	d)	disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.	The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

	a)	all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

	b)	any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: February 14, 2012


/s/ John Kahn
John Kahn
Chief Financial Officer
(Principal Accounting Officer)

EX-32.1 5 a12-2662_1ex32d1.htm EX-32.1

EXHIBIT 32.1

Certification of Chief Executive Officer and Chief Financial Officer

Pursuant to 18 U.S.C Section 1350,

As Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

In connection with the Quarterly Report of TeamStaff, Inc. (“TeamStaff”) on Form 10-Q for the period ended December 31, 2011 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), the undersigned, being, Zachary C. Parker, Chief Executive Officer, and John Kahn, Chief Financial Officer and Principal Accounting Officer, certify, pursuant to 18 U.S.C. ss.1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1)		The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2)		The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Company.

Dated: February 14, 2012


/s/ Zachary C. Parker		/s/ John Kahn
Zachary C. Parker		John Kahn
Chief Executive Officer		Chief Financial Officer
(Principal Executive Officer)		(Principal Accounting Officer)

A signed original of this written statement required by Section 906 has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

EX-101.INS 6 tstf-20111231.xml XBRL INSTANCE DOCUMENT 0000785557 2011-10-01 2011-12-31 0000785557 2011-02-09 0000785557 2011-09-30 0000785557 2010-10-01 2010-12-31 0000785557 2011-12-31 0000785557 2010-12-31 0000785557 2010-09-30 iso4217:USD xbrli:shares iso4217:USD xbrli:shares TEAMSTAFF INC 0000785557 10-Q 2011-12-31 false --09-30 Yes Smaller Reporting Company 6074933 2012 Q1

<table style="font-size:10pt; font-family:'Times New Roman',times,serif;"> <tr> <td>     (2)      LIQUIDITY AND SIGNIFICANT ACCOUNTING POLICIES:   Liquidity   At December 31, 2011, the Company had a net working capital deficit of approximately $3.7 million and an accumulated deficit of approximately $65.8 million. For the three months ended December 31, 2011, the Company incurred an operating loss and net loss of approximately $0.2 million and $0.4 million, respectively. The Company has a limited amount of cash and cash equivalents at December 31, 2011, and will be required to rely on operating cash flow and periodic funding, to the extent available, from its line of credit to sustain the operations of the Company unless it elects to pursue and is successful in obtaining additional debt or equity funding, as discussed below, or otherwise.   In an effort to improve the Company’s cash flows and financial position, in fiscal 2011 the Company completed measures to enhance its liquidity by approximately $1,000,000 as a result of increasing the maximum availability of its credit facility and receiving funding of and/or commitments for additional equity and/or debt financing. In that regard, our largest shareholder, Wynnefield Capital, Inc., and certain of our directors and executive officers collectively provided a total of $500,000 of additional capital to the Company. As described in Note 7, $150,000 of such capital was provided through equity investments on March 31, 2011 and $350,000 of such capital was provided in July 2011 by Wynnefield Capital through the sale of convertible debentures. In addition, as described in Note 6, on February 9, 2011, the Company entered into an amendment of its Loan and Security Agreement with Presidential Financial Corporation, pursuant to which they agreed to increase the maximum availability under the Loan and Security Agreement by an additional $500,000 and provide an unbilled receivable facility within the limits of the Loan and Security Agreement. Following this increase, the maximum availability under this loan facility is $3,000,000; subject to eligible accounts receivable. At December 31, 2011, the amount available was $438,000. In addition, as described in greater detail below, the parties agreed to amend certain other provisions of the Loan Agreement, including an extension of the term of the Loan Agreement for an additional year and the Lender agreed not to seek to terminate the Loan Agreement without cause until after February 29, 2012, which date has subsequently been amended to December 31, 2012. In addition, pursuant to its current credit facility, the financial institution also has the ability to terminate the Company’s line of credit immediately upon the occurrence of a defined event of default, including among others, a material adverse change in the Company’s circumstances or if the financial institution deems itself to be insecure in the ability of the Company to repay its obligations or, as to the sufficiency of the collateral. At present, the Company has not experienced and the financial institution has not declared an event of default.   Management believes, at present, that: (a) cash and cash equivalents of approximately $0.5 million as of December 31, 2011; (b) the amounts available under its line of credit (which, in turn, is limited by a portion of the amount of eligible assets); (c) forecasted operating cash flow including timely collection of the retrospective billings; (d) the ultimate non-payment of certain liabilities and recorded guarantees currently contested by the Company or not expected to be settled in cash (see Note 6 to the accompanying consolidated financial statements) (classified as current at December 31, 2011) in fiscal 2012, or the applicable portion of 2013 and (e) effects of cost reduction programs and initiatives should be sufficient to support the Company’s operations for twelve months from the date of these financial statements. However, should any of these factors not occur substantially as currently expected, there could be a material adverse effect on the Company’s ability to access the level of liquidity necessary for it to sustain operations at current levels for the next twelve months. In such an event, management may be forced to make further reductions in spending or to further extend payment terms with suppliers, liquidate assets where possible, and/or to suspend or curtail planned programs. Any of these actions could materially harm the Company’s business, financial position, results of operations and future prospects. Due to the foregoing there could be a future need for additional capital and the Company may pursue equity, equity-based and/or debt financing alternatives or other financing in order to raise any needed funds. If the Company raises additional funds by selling shares of common stock or convertible securities, the ownership of its existing shareholders would be diluted.   Presently, the Company derives all of its revenue from agencies of the Federal government and the Company has derived a substantial portion of its revenues through various contracts awarded by the DVA. On November 1, 2011, the Company commenced work under a single source Blanket Purchase Agreement with the DVA awarded in fiscal 2011 that represents both retention of existing work and expansion of new business at additional DVA locations. The maximum total value under this award is presently expected to be approximately $145,000,000 pursuant to site-specific task orders to be rendered by the DVA. The term of the award is for up to five years expiring October 31, 2016. The agreement is subject to the Federal Acquisition Regulations, and there can be no assurance as to the actual amount of services that the Company will ultimately provide under the agreement. This agreement effectively provides for renewal and expansion of contracts that generated, in aggregate, approximately 45% of its revenue in the year ended September 30, 2011, in respect of which the Company previously held order cover through various dates in fiscal 2012 under existing contracts. In addition, the Company also holds contractual order cover through various dates in fiscal 2012 in respect of DVA contracts that generated close to a further 50% of its revenue in the year ended September 30, 2011, which are not currently the subject of requests for proposals and may in due course be further extended by the DVA on a sole source basis, although no assurances can be given that this will occur. The Company’s results of operations, cash flows and financial condition would be materially adversely affected in the event that we are unable to continue our relationships with the DVA or suffer a significant diminution in the quantity of services that they procure from the Company.   Basis of Presentation   The consolidated interim financial statements included herein have been prepared by TeamStaff, without audit, pursuant to the applicable rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations. TeamStaff believes that the disclosures are adequate to make the information presented not misleading. These consolidated financial statements should be read in conjunction with the consolidated financial statements and the notes thereto included in TeamStaff’s fiscal 2011 Annual Report on Form 10-K which was filed on December 2, 2011. This interim financial information reflects, in the opinion of management, all adjustments necessary (consisting only of normal recurring adjustments and changes in estimates, where appropriate) to present fairly the results for the interim periods. The results of operations and cash flows for such interim periods are not necessarily indicative of the results for the full year.   The accompanying consolidated financial statements include the accounts of TeamStaff and its subsidiaries, all of which are wholly owned. All intercompany balances and transactions have been eliminated in consolidation. Certain prior period amounts have been reclassified to conform to the current period presentation. The cash flows, and related assets and liabilities of TeamStaff Rx have been reclassified to a discontinued operation in the accompanying consolidated financial statements from those of continuing businesses for all periods presented.   Revenue Recognition   TeamStaff’s revenue is derived from professional and other specialized service offerings to US Government agencies through a variety of contracts, some of which are fixed-price in nature and/or sourced through Federal Supply Schedules administered by the General Services Administration (“GSA”) and the DVA at fixed unit rates or hourly arrangements. We generally operate as a prime contractor, but have also entered into fixed price or fixed unit price contracts as a subcontractor. The recognition of revenue from fixed rates is based upon objective criteria that generally do not require significant estimates that may change over time. Other types of US Government contracts may include fixed price or flexibly priced contracts requiring estimates based on percentage-of-completion methods of recognizing revenue and profit. These contracting vehicles do not, at this time, represent a significant portion of our revenue nor require estimating techniques that would materially impact our revenue reported herein. TeamStaff recognizes and records revenue on DVA contracts when it is realized, or realizable, and earned. TeamStaff considers these requirements met when: (a) persuasive evidence of an arrangement exists; (b) the services have been delivered to the customer; (c) the sales price is fixed or determinable and free of contingencies or significant uncertainties; and (d) collectability is reasonably assured.   Revenues related to retroactive billings in 2008 from an agency of the Federal government were recognized when: (1) the Company developed and calculated an amount for such prior period services and had a contractual right to bill for such amounts under its arrangements, (2) there were no remaining unfulfilled conditions for approval of such billings and (3) collectability is reasonably assured based on historical practices with the DVA. The related direct costs, principally comprised of salaries and benefits, are recognized to match the recognized reimbursements from the Federal agency; upon approval, wages will be processed for payment to the employees.   During the year ended September 30, 2008, TeamStaff recognized revenues of $10.8 million and direct costs of $10.1 million related to these non-recurring arrangements. At December 31 and September 30, 2011, the amount of the remaining accounts receivable with the DVA approximated $9.3 million and accrued liabilities for salaries to employees and related benefits totaled $8.7 million. The $9.3 million in accounts receivable was unbilled to the DVA at December 31 and September 30, 2011. Although the timing cannot be guaranteed, at present the Company expects to bill and collect such amounts during fiscal 2012 based on current discussions with the DVA and collection efforts.   Goodwill   In accordance with applicable accounting standards, TeamStaff does not amortize goodwill. TeamStaff continues to review its goodwill for possible impairment or loss of value at least annually or more frequently upon the occurrence of an event or when circumstances indicate that a reporting unit’s carrying amount is greater than its fair value. At September 30, 2011, we performed a goodwill impairment analysis. For the purposes of this analysis, our estimates of fair value are based on the income approach, which estimates the fair value of the DLH Solutions unit based on the future discounted cash flows. Based on the results of the work performed, the Company has concluded that no impairment loss on goodwill was warranted at September 30, 2011. Major assumptions in the valuation study were the estimates of probability weighted future cash flows, the estimated terminal value of the company and the discount factor applied to the estimated future cash flows and terminal value. Estimates of future cash flows were developed by management having regard to current expectations and potential future opportunities. A terminal value for the forecast period was estimated based upon data of public companies that management believes to be similar with respect to the Company’s economics, products and markets. The discount factor used was a cost of capital estimate obtained from a leading third party data provider. The resulting estimated fair value of goodwill exceeded the carrying value at September 30, 2011 by more than 100%, resulting in no impairment charge being taken against goodwill. However, a non-renewal of a major contract (see Note 2—Liquidity) or other substantial changes in the assumptions used in the valuation study could have a material adverse effect on the valuation of goodwill in future periods and the resulting charge could be material to future periods’ results of operations.  Teamstaff has concluded as of December 31, 2011, that there is not any required write off of goodwill.  If an impairment write off of all the goodwill became necessary in future periods, a charge of up to $8.6 million would be expensed in the Consolidated Statement of Operations. All remaining goodwill is attributable to the DLH Solutions reporting unit.   Intangible Assets   As required by applicable accounting standards, TeamStaff did not amortize its tradenames, an indefinite life intangible asset. TeamStaff reviewed its indefinite life intangible assets for possible impairment or loss of value at least annually or more frequently upon the occurrence of an event or when circumstances indicated that an asset’s carrying amount was greater than its fair value. On September 15, 2011, the Board of Directors of TeamStaff approved the change of the corporate name of TeamStaff GS to DLH Solutions and also approved a plan to change the corporate name of the Company to DLH Holdings Corp. In connection with these actions, the Company will cease further use of the TeamStaff trademark and implement new marketing and branding initiatives associated with the new corporate identity being adopted by the Company. As a result of the corporate name change, abandoning the use of the TeamStaff name and associated rebranding efforts being implemented by the Company, the Company concluded that it was required to record a non-cash impairment charge with respect to the value of the “TeamStaff” trademark of $2.6 million to fully write-off the value of this trademark during the fourth quarter of fiscal 2011.   Income Taxes   TeamStaff accounts for income taxes in accordance with the “liability” method, whereby deferred tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities, using enacted tax rates in effect for the year in which the differences are expected to reverse. Deferred tax assets are reflected on the consolidated balance sheet when it is determined that it is more likely than not that the asset will be realized. This guidance also requires that deferred tax assets be reduced by a valuation allowance if it is more likely than not that some or all of the deferred tax asset will not be realized. At December 31, 2011, the Company recorded a 100% valuation allowance against its net deferred tax assets of approximately $15.6 million.   The Financial Accounting Standards Board (“FASB”) has issued authoritative guidance that clarifies the accounting for uncertainty in income taxes recognized in an entity’s financial statements and prescribes a recognition threshold of more-likely-than-not to be sustained upon examination. Measurement of the tax uncertainty occurs if the recognition threshold has been met. This interpretation also provides guidance on de-recognition, classification, interest and penalties, accounting in interim periods and disclosures. The Company conducts business solely in the U.S. and, as a result, also files income taxes in various states and other jurisdictions. Given the substantial net operating losses and the related valuation allowance established against such amounts, the Company has concluded that it does not have any uncertain tax positions. There have been no income tax related interest or penalties for the periods presented in these consolidated financial statements. In the normal course of business, the Company and its subsidiaries are subject to examination by Federal and state taxing authorities. The Company’s income tax returns for years subsequent to fiscal 2007 are currently open, by statute, for review by authorities. However, there are no examinations currently in progress and the Company is not aware of any pending audits.   Stock-Based Compensation   Compensation costs for the portion of equity awards (for which the requisite service has not been rendered) that are outstanding are recognized as the requisite service is rendered. The compensation cost for that portion of awards shall be based on the grant-date fair value of those awards as calculated for recognition purposes under applicable guidance. As of December 31, 2011,there was $202,000 remaining unrecognized compensation expense related to non-vested stock- based awards to be recognized in future periods.   Stock Options, Warrants and Restricted Stock   There was share-based compensation expense for options for the three months ended December 31, 2011 and December 31, 2010 of $40,000 and $31,000, respectively.  There was no share-based compensation expense for restricted stock for the three months ended December 31, 2011, and $18,000 for the three months ended December 31, 2010.  Certain awards vest upon satisfaction of certain performance criteria. As permitted, the Company will not recognize expense on the performance based shares until it is probable that these conditions will be achieved. Such charges could be material in future periods.   During the three months ended December 31, 2011, the Company did not grant any options to employees.  During the three months ended December 31, 2011, the Company awarded a total of 25,000 options to consultants serving on its strategic advisory board.  The Company did not grant any non-employee options during the three months ended December 31, 2010 and incurred share based compensation expense of $6,000.  During the three months ended December 31, 2010, the Company granted 250,000 options per the terms of an employment agreement with the Company’s Executive Vice President and recorded share-based compensation expense of $18,000 in connection with this grant.   During the three months ended December 31, 2011, and 2010, the Company did not grant any shares of restricted stock to employees. During the three months ended December 31, 2011, the Company granted an aggregate of 53,750 shares of restricted stock to our non-executive directors, under its 2006 Long Term Incentive Plan, at the closing price on the award date of $2.28. All of these shares vested immediately. During the three months ended December 31, 2010, the Company granted 35,000 shares of restricted stock to non-employee directors under its 2006 Long Term Incentive Plan, at the closing price on the award date of $.56. All of these shares vested immediately. Stock compensation expense associated with these grants was $122,550 and $19,600 for the three months ended December 31, 2011 and 2010, respectively. During the three months ended December 31, 2011 and 2010, no shares of restricted stock vested.   The stock option activity for the three months ended December 31, 2011 is as follows:   <table style="MARGIN-LEFT: 0.35in; WIDTH: 85.34%; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="85%" border="0"> <tr style="HEIGHT: 0px"> <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 30.54%; PADDING-TOP: 0in" valign="bottom" width="30%">  </td> <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.92%; PADDING-TOP: 0in" valign="bottom" width="2%">  </td> <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 14.06%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="14%"> Number of Shares</td> <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 3.28%; PADDING-TOP: 0in" valign="bottom" width="3%">  </td> <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 14.06%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="14%" colspan="2"> Weighted Average Exercise Price</td> <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.92%; PADDING-TOP: 0in" valign="bottom" width="2%">  </td> <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 14.06%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="14%"> Weighted Average Remaining Contractual Term</td> <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.92%; PADDING-TOP: 0in" valign="bottom" width="2%">  </td> <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 14.06%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="14%" colspan="2"> Aggregate Intrinsic Value</td> <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.18%; PADDING-TOP: 0in" valign="bottom" width="1%">  </td></tr> <tr style="HEIGHT: 0px"> <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 30.54%; PADDING-TOP: 0in" valign="bottom" width="30%" bgcolor="#CCEEFF"> Options outstanding, September 30, 2011</td> <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 2.92%; PADDING-TOP: 0in" valign="bottom" width="2%" bgcolor="#CCEEFF">  </td> <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 14.06%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="14%" bgcolor="#CCEEFF"> 1,537,500</td> <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 3.28%; PADDING-TOP: 0in" valign="bottom" width="3%" bgcolor="#CCEEFF">  </td> <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 1.3%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="1%" bgcolor="#CCEEFF"> $</td> <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.76%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="12%" bgcolor="#CCEEFF"> 1.19</td> <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 2.92%; PADDING-TOP: 0in" valign="bottom" width="2%" bgcolor="#CCEEFF">  </td> <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 14.06%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="14%" bgcolor="#CCEEFF"> 9.3</td> <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 2.92%; PADDING-TOP: 0in" valign="bottom" width="2%" bgcolor="#CCEEFF">  </td> <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 1.3%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="1%" bgcolor="#CCEEFF"> $</td> <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.76%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="12%" bgcolor="#CCEEFF"> 743,785</td> <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.18%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">  </td></tr> <tr style="HEIGHT: 0px"> <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 30.54%; PADDING-TOP: 0in" valign="bottom" width="30%"> Granted</td> <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.92%; PADDING-TOP: 0in" valign="bottom" width="2%">  </td> <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 14.06%; PADDING-TOP: 0in" valign="bottom" width="14%"> 25,000</td> <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 3.28%; PADDING-TOP: 0in" valign="bottom" width="3%">  </td> <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.3%; PADDING-TOP: 0in" valign="bottom" width="1%"> $</td> <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 12.76%; PADDING-TOP: 0in" valign="bottom" width="12%"> 1.88</td> <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.92%; PADDING-TOP: 0in" valign="bottom" width="2%">  </td> <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 14.06%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="14%">  </td> <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.92%; PADDING-TOP: 0in" valign="bottom" width="2%">  </td> <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 14.06%; PADDING-TOP: 0in; BORDER-BOTTOM: medium none" valign="bottom" width="14%" colspan="2">  </td> <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.18%; PADDING-TOP: 0in" valign="bottom" width="1%">  </td></tr> <tr style="HEIGHT: 0px"> <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 30.54%; PADDING-TOP: 0in" valign="bottom" width="30%" bgcolor="#CCEEFF"> Cancelled</td> <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 2.92%; PADDING-TOP: 0in" valign="bottom" width="2%" bgcolor="#CCEEFF">  </td> <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 14.06%; PADDING-TOP: 0in" valign="bottom" width="14%" bgcolor="#CCEEFF"> (212,500</td> <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 3.28%; PADDING-TOP: 0in" valign="bottom" width="3%" bgcolor="#CCEEFF"> )</td> <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.3%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF"> $</td> <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 12.76%; PADDING-TOP: 0in" valign="bottom" width="12%" bgcolor="#CCEEFF"> 1.81</td> <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 2.92%; PADDING-TOP: 0in" valign="bottom" width="2%" bgcolor="#CCEEFF">  </td> <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 14.06%; PADDING-TOP: 0in" valign="bottom" width="14%" bgcolor="#CCEEFF">  </td> <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 2.92%; PADDING-TOP: 0in" valign="bottom" width="2%" bgcolor="#CCEEFF">  </td> <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 14.06%; PADDING-TOP: 0in" valign="bottom" width="14%" bgcolor="#CCEEFF" colspan="2">  </td> <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.18%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">  </td></tr> <tr style="HEIGHT: 0px"> <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 30.54%; PADDING-TOP: 0in" valign="bottom" width="30%"> Exercised</td> <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.92%; PADDING-TOP: 0in" valign="bottom" width="2%">  </td> <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 14.06%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="14%"> —</td> <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 3.28%; PADDING-TOP: 0in" valign="bottom" width="3%">  </td> <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 14.06%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" valign="bottom" width="14%" colspan="2"> —</td> <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.92%; PADDING-TOP: 0in" valign="bottom" width="2%">  </td> <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 14.06%; PADDING-TOP: 0in" valign="bottom" width="14%">  </td> <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 2.92%; PADDING-TOP: 0in" valign="bottom" width="2%">  </td> <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 14.06%; PADDING-TOP: 0in" valign="bottom" width="14%" colspan="2">  </td> <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; WIDTH: 1.18%; PADDING-TOP: 0in" valign="bottom" width="1%">  </td></tr> <tr style="HEIGHT: 0px"> <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 30.54%; PADDING-TOP: 0in" valign="bottom" width="30%" bgcolor="#CCEEFF"> Options outstanding, December 31, 2011</td> <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 2.92%; PADDING-TOP: 0in" valign="bottom" width="2%" bgcolor="#CCEEFF">  </td> <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 14.06%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="14%" bgcolor="#CCEEFF"> 1,350,000</td> <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 3.28%; PADDING-TOP: 0in" valign="bottom" width="3%" bgcolor="#CCEEFF">  </td> <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 1.3%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="1%" bgcolor="#CCEEFF"> $</td> <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.76%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="12%" bgcolor="#CCEEFF"> 1.12</td> <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 2.92%; PADDING-TOP: 0in" valign="bottom" width="2%" bgcolor="#CCEEFF">  </td> <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 14.06%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="14%" bgcolor="#CCEEFF"> 8.9</td> <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 2.92%; PADDING-TOP: 0in" valign="bottom" width="2%" bgcolor="#CCEEFF">  </td> <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 1.3%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="1%" bgcolor="#CCEEFF"> $</td> <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; WIDTH: 12.76%; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 2.25pt double" valign="bottom" width="12%" bgcolor="#CCEEFF"> 1,043,875</td> <td style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #cceeff; PADDING-BOTTOM: 0in; WIDTH: 1.18%; PADDING-TOP: 0in" valign="bottom" width="1%" bgcolor="#CCEEFF">  </td></tr></table>   At December 31, 2011, there were 450,000 options outstanding that were vested and exercisable and an additional 900,000 options outstanding that vest to the recipients when the market value of the Company’s stock achieves and maintains defined levels. The Company used a binomial valuation model and various probability factors in establishing the fair value of these options.   In addition, during the three months ended December 31, 2011, an aggregate of 212,500 employee stock options to certain executive officers were cancelled, due to the Company not meeting certain performance based criteria during fiscal 2011.   The aggregate intrinsic value in the table above represents the total pretax intrinsic value (i.e., the difference between the Company’s closing stock price on the last trading day of the period and the exercise price, times the number of shares) that would have been received by the option holders had all option holders exercised their in the money options on those dates. This amount changes based on the fair market value of the Company’s stock.   At December 31, 2011, there were 52,500 shares of unvested restricted stock outstanding.  As of December 31, 2011, there are $150,000 remaining costs related to non-vested restricted stock awards.   For the three months ended December 31, 2011, the Company granted warrants to purchase 20,000 shares of common stock to a consultant for services, which warrants will expire in October 2016. These warrants have an exercise price of $2.28 per share and vest in two equal annual installments commencing on the first anniversary of the grant date.  These warrants were issued pursuant to the exemption from registration provided by Section 4(2) of the Securities Act of 1993, as amended.  Also, the Company granted options to purchase 25,000 shares of common stock to consultants for service on the Company’s Strategic Advisory Board,  which options also expire in October 2016.  These options have an exercise price of $1.88 per share and vest on the first anniversary of the grant date.  The company recognized non-employee option and warrant expense for the three months ended December 31, 2011, in the amount of $3,000 and has unrecognized non-employee option and warrant expense in the amount of $21,000.   Changes in Shareholders’ Equity   During the three months ended December 31, 2011, additional paid in capital increased by a total of $171,000, comprised of $43,000 as a result of warrants and stock compensation expense. In addition, $5,000 of credits of one of the March 31, 2011 purchasers of equity via rights of offset were applied by the Company during the three months ended December 31, 2011 in respect of 11,056 shares, and shares of restricted stock were granted to the Company’s non-employee directors in the amount of $123,000.   Fair Value of Financial Instruments   The Company has financial instruments, principally accounts receivable, accounts payable, loan payable, notes payable, and accrued expense. Due to the short term nature of these instruments, TeamStaff estimates that the fair value of all financial instruments at December 31, 2011 and September 30, 2011 does not differ materially from the aggregate carrying values of these financial instruments recorded in the accompanying consolidated balance sheets.   Loss Per Share   Loss per share is calculated by dividing loss available to common shareholders by the weighted average number of common shares outstanding and restricted stock grants that vested or are likely to vest during the period. Diluted loss per share is calculated by dividing the loss available to common shareholders by the weighted average number of basic common shares outstanding, adjusted to reflect potentially dilutive securities.  The effects of common stock equivalents of 1,693,076  and 1,537,500 are anti-dilutive for the three months ended December 31, 2011 and 2010, respectively.  As such effects are anti-dilutive, there were no differences in the number of weighted average shares outstanding in determining basic and diluted loss per share the three months ended December 31, 2011 and 2010.  </td></tr></table>

182000

46000

16129000

235000

2134000

1983000

10318000

8000

711000

740000

21917000

536000

510000

26000

9928000

11495000

5117000

-0.07

-337000

-62000

1000

31000

1318000

9257000

10575000

6070000

5117000

8595000

214000

346000

560000

21000

260000

102000

177000

12572000

184000

513000

11112000

763000

21917000

5000000

2000

6021000

6023000

40000000

6075000

6077000

40000000

0.001

0.10

22953000

5335000

24000

-65805000

71158000

6000

17618000

335000

15000

238000

82000

17283000

218000

1822000

2425000

10269000

6000

711000

1832000

22953000

536000

515000

21000

8595000

225000

369000

594000

10000

301000

106000

177000

13597000

184000

513000

12423000

477000

5554000

24000

-65416000

70988000

6000

16363000

234000

6000

45000

77000

19000

6070000

-0.06

-389000

-179000

-56000

46000

23000

1567000

-210000

-275000

59000 31000

32000

31000

14000

123000 20000 3000

5000

1311000

963000

-1325000

-1985000

34000

9000

-9000

-34000

1092000

1443000

2000

5000

-17000

-37000

1073000

1401000

-286000

-593000

53000

45000

-71000

7000

82000 -843000

9000

-2000

594000

1187000

6000

1754000

1562000

EX-101.SCH 7 tstf-20111231.xsd XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 0000 - Document - Document and Entity Information link:presentationLink link:calculationLink link:definitionLink 0010 - Statement - CONSOLIDATED BALANCE SHEETS link:presentationLink link:calculationLink link:definitionLink 0015 - Statement - CONSOLIDATED BALANCE SHEETS (Parenthetical) link:presentationLink link:calculationLink link:definitionLink 0020 - Statement - CONSOLIDATED STATEMENTS OF OPERATIONS link:presentationLink link:calculationLink link:definitionLink 0030 - Statement - CONSOLIDATED STATEMENTS OF CASH FLOWS link:presentationLink link:calculationLink link:definitionLink 8010 - Statement - CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) link:presentationLink link:calculationLink link:definitionLink 1010 - Disclosure - ORGANIZATION AND BUSINESS: link:presentationLink link:calculationLink link:definitionLink 1020 - Disclosure - LIQUIDITY AND SIGNIFICANT ACCOUNTING POLICIES: link:presentationLink link:calculationLink link:definitionLink 1030 - Disclosure - DISCONTINUED OPERATION: link:presentationLink link:calculationLink link:definitionLink 1040 - Disclosure - COMMITMENTS AND CONTINGENCIES: link:presentationLink link:calculationLink link:definitionLink 1050 - Disclosure - PREPAID WORKERS' COMPENSATION: link:presentationLink link:calculationLink link:definitionLink 1060 - Disclosure - DEBT: link:presentationLink link:calculationLink link:definitionLink 1090 - Disclosure - SUBSEQUENT EVENTS: link:presentationLink link:calculationLink link:definitionLink 8040 - Disclosure - INCOME TAXES: link:presentationLink link:calculationLink link:definitionLink 8020 - Disclosure - OTHER CURRENT ASSETS: link:presentationLink link:calculationLink link:definitionLink 1080 - Disclosure - Recently Issued Accounting Pronouncements Affecting the Company link:presentationLink link:calculationLink link:definitionLink 8030 - Disclosure - ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES: link:presentationLink link:calculationLink link:definitionLink 1070 - Disclosure - EQUITY AND CONVERTIBLE DEBENTURES FINANCING link:presentationLink link:calculationLink link:definitionLink 8050 - Disclosure - QUARTERLY FINANCIAL DATA (UNAUDITED): link:presentationLink link:calculationLink link:definitionLink 8060 - Disclosure - EMPLOYEE BENEFIT PLANS: link:presentationLink link:calculationLink link:definitionLink 8070 - Disclosure - ECONOMIC DEPENDENCY: link:presentationLink link:calculationLink link:definitionLink 8080 - Disclosure - SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES link:presentationLink link:calculationLink link:definitionLink 8000 - Statement - CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY link:presentationLink link:calculationLink link:definitionLink EX-101.CAL 8 tstf-20111231_cal.xml XBRL TAXONOMY EXTENSION CALCULATION LINKBASE DOCUMENT EX-101.LAB 9 tstf-20111231_lab.xml XBRL TAXONOMY EXTENSION LABELS LINKBASE DOCUMENT Computer Equipment Computer equipment Represents the long-lived, depreciable assets that are used in the creation, maintenance and utilization of information systems. Legal Expense Related to Pre Acquisition Activity of Acquired Company Legal expense related to pre-acquisition activity of acquired company Represents the amount of expense paid during the period for legal costs incurred in relation to the pre-acquisition activity of acquired company, including arbitration and mediation proceedings. Accounting Changes and Error Corrections [Text Block] Recently Issued Accounting Pronouncements Affecting the Company Stock Issued During Period Value Director Restricted Stock Award Net Of Forfeitures Director restricted stock grants Value of stock related to Director Restricted Stock Awards issued during the period, net of stock value of such awards forfeited. Stock Issued During Period Shares Director Restricted Stock Award Net Of Forfeitures Director restricted stock grants (in shares) Number of shares issued during the period related to Director Restricted Stock Awards, net of any shares forfeited. Stock Issued During Period Value For Services Issuance of shares for services Equity impact of the value of stock issued during the period for services. Stock Issued During Period Shares For Services Issuance of shares for services (in shares) Number of shares of new stock issued during the period for services. Stock Issued During Period Value For Settlement Of Notes Payable Issuance of common shares in settlement of notes payable Equity impact of the value of stock issued during the period in settlement of notes payable. Stock Issued During Period Shares For Settlement Of Notes Payable Issuance of common shares in settlement of notes payable (in shares) Number of shares of stock issued during the period in settlement of notes payable. Compensation expense related to director restricted stock grants Director Restricted Stock Expense The noncash expense that represents the cost of restricted stock or units distributed to directors as compensation. Depreciation Amortization and Debt Costs Depreciation and amortization including debt costs The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets also includes amortization of debt issuance cost. Amendment Description Accounts payable, accrued payroll, accrued expenses and other current liabilities Increase (Decrease) in Accounts Payable and Accrued Liabilities Accrued Employee Benefits, Current The increase (decrease) during the reporting period in the amounts payable to vendors for goods and services received and the amount of obligations and expenses incurred but not paid. It further includes increase (decrease) during the reporting period in the aggregate amount of obligations related to services received from employees, such as accrued salaries and bonuses, payroll taxes and fringe benefits. Amendment Flag LIQUIDITY AND SIGNIFICANT ACCOUNTING POLICIES: Liquidity and Significant Accounting Policies Disclosure [Text Block] LIQUIDITY AND SIGNIFICANT ACCOUNTING POLICIES: The entire disclosure for all significant accounting policies of the reporting entity and the liquidity of working capital of the reporting entity during the period. ECONOMIC DEPENDENCY: Economic Dependencies Disclosure [Text Block] The entire disclosure for economic customer dependencies of the company during the reporting period. It also includes contract for logistics, pharmaceutical and medical services. ECONOMIC DEPENDENCY: Document and Entity Information Current Fiscal Year End Date Accounts Receivable, Net, Current Accounts receivable, net of allowance for doubtful accounts of $0 as of December 31, 2011 September 30, 2011 Document Period End Date Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment Less accumulated depreciation and amortization Less accumulated depreciation and amortization Entity Well-known Seasoned Issuer Entity Voluntary Filers Entity Current Reporting Status Entity Filer Category Entity Public Float Entity Registrant Name Entity Central Index Key Entity Common Stock, Shares Outstanding Stock for acquisition of RS Staffing Services, net of cash acquired Payments to Acquire Businesses, Net of Cash Acquired Document Fiscal Year Focus Document Fiscal Period Focus Document Type Additional Paid in Capital, Common Stock Additional paid-in capital Payments to Acquire Productive Assets Purchase of equipment, leasehold improvements and software Restricted Stock or Unit Expense Compensation expense related to employee restricted stock grants Stock or Unit Option Plan Expense Compensation expense related to employee stock option grants Change in fair value of derivative financial instruments Unrealized Gain (Loss) on Derivatives Change in fair value of financial instruments Allowance for Doubtful Accounts Receivable, Current Accounts receivable, allowance for doubtful accounts (in dollars) Cost of Goods Sold, Amortization DIRECT EXPENSES Amortization of deferred financing costs Amortization of Financing Costs Assets of Disposal Group, Including Discontinued Operation, Current Assets from discontinued operation CONSOLIDATED BALANCE SHEETS Capital Lease Obligations, Current Current portion of capital lease obligations Capital Lease Obligations, Noncurrent Capital lease obligations, net of current portion Capitalized Computer Software, Gross Computer software Cash and Cash Equivalents, at Carrying Value Cash and cash equivalents CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD CASH AND CASH EQUIVALENTS AT END OF PERIOD Interest Paid Cash paid during the period for interest Increase (Decrease) in Accounts Receivable Accounts receivable Accounts receivable Increase (Decrease) in Operating Capital [Abstract] Changes in operating assets and liabilities, net of divested business: Compensation Related Costs, General [Text Block] PREPAID WORKERS' COMPENSATION: Commitments and Contingencies Disclosure [Text Block] COMMITMENTS AND CONTINGENCIES: Common Stock, Shares Authorized Common stock, authorized shares Common Stock, Shares, Issued Common stock, issued shares BALANCE (in shares) BALANCE (in shares) Common Stock, Shares, Outstanding Common stock, outstanding shares BALANCE (in shares) BALANCE (in shares) Common Stock, Value, Issued Common stock, $.001 par value; authorized 40,000 shares; issued 6,077 at December 31, 2011 and 6,023 at September 30, 2011, outstanding 6,075 at December 31, 2011 and 6,021 at September 30, 2011 Liabilities, Current Total current liabilities Liabilities, Current [Abstract] CURRENT LIABILITIES: Payments of Debt Issuance Costs Issuance of convertible debentures, net of direct costs Financial instruments, at fair value Derivative Liabilities, Noncurrent Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] DISCONTINUED OPERATION: Discontinued Operation, Amount of Other Income (Loss) from Disposition of Discontinued Operation, Net of Tax Other income Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax Loss from disposal Loss from operations Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, Net of Tax Loss from operations Severance Costs OFFICER SEVERANCE Share-based Compensation Other non cash compensation Payments of Financing Costs Debt agreement costs Furniture and Fixtures, Gross Furniture and equipment Gain (Loss) on Disposition of Assets Loss on retirement of assets Loss on retirement of assets Gain (Loss) on Sale of Property Plant Equipment Loss on retirement of equipment Gross Profit GROSS PROFIT CONSOLIDATED STATEMENTS OF OPERATIONS Loss from continuing operations (in dollars per share) Loss from continuing operations Income (Loss) from Continuing Operations Attributable to Parent INCOME TAXES: Income Tax Disclosure [Text Block] Increase (Decrease) in Other Operating Assets Other assets Other assets Goodwill GOODWILL Indefinite-Lived Trade Names TRADENAMES Interest Expense Interest expense Leasehold Improvements, Gross Leasehold improvements Liabilities Total liabilities Liabilities of Disposal Group, Including Discontinued Operation, Current Liabilities from discontinued operation Liabilities and Equity TOTAL LIABILITIES AND SHAREHOLDERS ' EQUITY Liabilities and Equity [Abstract] LIABILITIES AND SHAREHOLDERS' EQUITY Loans Payable, Current Bank loan payable Net Cash Provided by (Used in) Financing Activities Net cash provided by financing activities Net Cash Provided by (Used in) Financing Activities [Abstract] CASH FLOWS FROM FINANCING ACTIVITIES Net Cash Provided by (Used in) Investing Activities Net cash used in investing activities Net Cash Provided by (Used in) Investing Activities [Abstract] CASH FLOWS FROM INVESTING ACTIVITIES Net Cash Provided by (Used in) Operating Activities Net cash used in operating activities Net Cash Provided by (Used in) Operating Activities [Abstract] CASH FLOWS FROM OPERATING ACTIVITIES NET LOSS Net Income (Loss) Available to Common Stockholders, Basic Net loss Cash and Cash Equivalents, Period Increase (Decrease) Net decrease in cash and cash equivalents Nonoperating Income (Expense) Total other income (expenses) Nonoperating Income (Expense) [Abstract] OTHER INCOME (EXPENSE) Liabilities, Noncurrent Total long term liabilities LONG TERM LIABILITIES Liabilities, Noncurrent [Abstract] Notes Payable, Current Notes payable Notes Payable, Noncurrent Long term note payable Operating Income (Loss) Loss from operations Revenues REVENUES Other Assets, Current Other current assets Other Nonoperating Expense Other expense Other Nonoperating Income Other income, net Other Prepaid Expense, Current Prepaid workers' compensation EMPLOYEE BENEFIT PLANS: Pension and Other Postretirement Benefits Disclosure [Text Block] Preferred Stock, Shares Authorized Preferred stock, authorized shares Preferred Stock, Shares Issued Preferred stock, issued shares Preferred Stock, Shares Outstanding Preferred stock, outstanding shares Preferred Stock, Par or Stated Value Per Share Preferred stock, par value (in dollars per share) Issuance of convertible debentures, net of direct costs of $32 Proceeds from Convertible Debt Proceeds from Issuance of Common Stock Proceeds from sale of common stock Proceeds from Lines of Credit Net advances on revolving line of credit Proceeeds from exercise of stock options Proceeds from Stock Options Exercised Property, Plant and Equipment, Gross Equipment and improvements, gross Property, Plant and Equipment, Net Equipment and improvements, net Equipment and improvements, net Settlement of notes payable Repayments of Notes Payable Retained Earnings (Accumulated Deficit) Accumulated deficit CONSOLIDATED STATEMENTS OF CASH FLOWS CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY Payments of Stock Issuance Costs Proceeds from sale of common stock, net of direct costs SHAREHOLDERS' EQUITY: Stockholders' Equity Attributable to Parent [Abstract] Stockholders' Equity Note Disclosure [Text Block] EQUITY AND CONVERTIBLE DEBENTURES FINANCING Supplemental Cash Flow Information [Abstract] SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: Income Taxes Paid Cash paid during the period for income taxes Assets, Current Total current assets Assets, Current [Abstract] EX-101.PRE 10 tstf-20111231_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT EX-101.DEF 11 tstf-20111231_def.xml XBRL TAXONOMY EXTENSION DEFINITION LINKBASE DOCUMENT XML 12 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; word-wrap: break-word; } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 13 R9.htm IDEA: XBRL DOCUMENT

COMMITMENTS AND CONTINGENCIES:

3 Months Ended

Dec. 31, 2011

COMMITMENTS AND CONTINGENCIES:

COMMITMENTS AND CONTINGENCIES:

(4) COMMITMENTS AND CONTINGENCIES:

Payroll Taxes

Legal Proceedings

Leases

- Definition

The entire disclosure for commitments and contingencies.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 450

-SubTopic 20

-Section 50

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=6952336&loc=d3e14435-108349

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 460

-SubTopic 10

-Section 50

-Paragraph 8

-URI http://asc.fasb.org/extlink&oid=6398077&loc=d3e12565-110249

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

-Publisher FASB

-Name FASB Interpretation (FIN)

-Number 14

-Paragraph 3

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 440

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6394976&loc=d3e25287-109308

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 5

-Paragraph 9, 10, 11, 12

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.25)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 20

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6449706&loc=d3e16207-108621

+ Details

EXCEL 14 Financial_Report.xls IDEA: XBRL DOCUMENT begin 644 Financial_Report.xls M[[N_34E-12U697)S:6]N.B`Q+C`-"E@M1&]C=6UE;G0M5'EP93H@5V]R:V)O M;VL-"D-O;G1E;G0M5'EP93H@;75L=&EP87)T+W)E;&%T960[(&)O=6YD87)Y M/2(M+2TM/5].97AT4&%R=%]F-SEB.#%E,%\T9#-B7S0W.&1?861B,5]A-SAD M.3@U8F0P-S`B#0H-"E1H:7,@9&]C=6UE;G0@:7,@82!3:6YG;&4@1FEL92!7 M96(@4&%G92P@86QS;R!K;F]W;B!A'!L;W)E&UL;G,Z=CTS1")U&UL;G,Z;STS1")U&UL/@T*(#QX.D5X8V5L5V]R:V)O;VL^#0H@(#QX M.D5X8V5L5V]R:W-H965T5]);F9O#I%>&-E;%=O#I%>&-E;%=O#I%>&-E;%=O#I%>&-E;%=O#I%>&-E;%=O#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I.86UE/DQ)455)1$E465]!3D1?4TE'3DE&24-!3E1?04-#3SPO>#I. M86UE/@T*("`@(#QX.E=O#I.86UE/@T* M("`@(#QX.E=O#I% M>&-E;%=O#I.86UE/E!215!!241?5T]22T524U]# M3TU014Y3051)3TX\+W@Z3F%M93X-"B`@("`\>#I7;W)K#I%>&-E M;%=O#I%>&-E;%=O#I% M>&-E;%=O#I7;W)K M#I3='EL97-H965T($A2968],T0B5V]R:W-H965T3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R=%]F M-SEB.#%E,%\T9#-B7S0W.&1?861B,5]A-SAD.3@U8F0P-S`-"D-O;G1E;G0M M3&]C871I;VXZ(&9I;&4Z+R\O0SHO9C'0O:'1M;#L@8VAA2!);F9O2!);F9O'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L M87-S/3-$'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@ M("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$"!+97D\+W1D/@T*("`@("`@("`\=&0@8VQA'0^1&5C(#,Q+`T*"0DR,#$Q/'-P86X^/"]S M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S M<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$'0^9F%L2!#=7)R96YT(%)E<&]R M=&EN9R!3=&%T=7,\+W1D/@T*("`@("`@("`\=&0@8VQA'0^/'-P86X^/"]S M<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@ M("`\+W1R/@T*("`@(#PO=&%B;&4^#0H@(#PO8F]D>3X-"CPO:'1M;#X-"@T* M+2TM+2TM/5].97AT4&%R=%]F-SEB.#%E,%\T9#-B7S0W.&1?861B,5]A-SAD M.3@U8F0P-S`-"D-O;G1E;G0M3&]C871I;VXZ(&9I;&4Z+R\O0SHO9C'0O:'1M;#L@8VAA7!E(&-O;G1E;G0],T0G=&5X="]H=&UL.R!C M:&%R'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\ M+W1R/@T*("`@("`@/'1R(&-L87-S/3-$3X- M"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R=%]F-SEB.#%E,%\T9#-B7S0W M.&1?861B,5]A-SAD.3@U8F0P-S`-"D-O;G1E;G0M3&]C871I;VXZ(&9I;&4Z M+R\O0SHO9C'0O:'1M M;#L@8VAAF5D('-H87)EF5D('-H87)E2!S=&]C:RP@7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T* M#0H\:'1M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O M;G1E;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT M9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@ M/'1R(&-L87-S/3-$'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C M;&%S2!O9B!A8W%U:7)E9"!C;VUP86YY/"]T9#X- M"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S M'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@ M("`@/'1R(&-L87-S/3-$'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@ M("`@/'1R(&-L87-S/3-$65E('-T;V-K(&]P=&EO;B!G'!E;G-E(')E;&%T M960@=&\@96UP;&]Y964@7!E.B!T97AT+VAT;6P[ M(&-H87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@/&AE860^#0H@("`@ M/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C;VYT96YT/3-$)W1E M>'0O:'1M;#L@8VAAF4],T0R M/B8C,38P.SPO9F]N=#X\+W`^#0H\<"!S='EL93TS1"=-05)'24XZ(#!I;B`P M:6X@,'!T(#$U+CDU<'0[(%1%6%0M24Y$14Y4.B`M,34N.35P="<^/&(^/&9O M;G0@F4],T0Q/B8C,38P.R8C,38P.R8C,38P M.R8C,38P.R8C,38P.R`\+V9O;G0^/"]B/CQB/CQU/CQF;VYT('-T>6QE/3-$ M)T9/3E0M5T5)1TA4.B!B;VQD.R!&3TY4+5-)6D4Z(#$P<'0G('-I>F4],T0R M/D]21T%.25I!5$E/3B!!3D0@0E5324Y%4U,Z/"]F;VYT/CPO=3X\+V(^/"]P M/@T*/'`@6QE/3-$)T9/3E0M4TE: M13H@,3!P=#L@1D].5"U&04U)3%DZ(%1I;65S($YE=R!2;VUA;B<@6QE/3-$)TU!4D=)3CH@,&EN M(#!I;B`P<'0[(%1%6%0M24Y$14Y4.B`P+C5I;B<^/&9O;G0@28C.#(R,3L@86YD(&%L2!P2!O<&5R871E2!$3$@@4V]L=71I;VYS+"8C,38P M.TEN8RX@*"8C.#(R,#M$3$@@4V]L=71I;VYS)B,X,C(Q.R!F;W)M97)L>2!O M<&5R871I;F<@87,@5&5A;7-T869F($=O=F5R;FUE;G0@4V]L=71I;VYS+"8C M,38P.TEN8RXI+CPO9F]N=#X\+W`^#0H\<"!S='EL93TS1"=-05)'24XZ(#!I M;B`P:6X@,'!T.R!415A4+4E.1$5.5#H@,"XU:6XG/CQF;VYT('-T>6QE/3-$ M)T9/3E0M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ(%1I;65S($YE=R!2;VUA M;B<@6QE/3-$)TU! M4D=)3CH@,&EN(#!I;B`P<'0[(%1%6%0M24Y$14Y4.B`P+C5I;B<^/&9O;G0@ M2!H87,@;W9E6QE/3-$)TU!4D=)3CH@,&EN(#!I;B`P M<'0[(%1%6%0M24Y$14Y4.B`P+C5I;B<^/&9O;G0@3PO9F]N=#X\+VD^/"]B/CPO<#X-"CQP('-T>6QE/3-$)TU! M4D=)3CH@,&EN(#!I;B`P<'0G/CQF;VYT('-T>6QE/3-$)T9/3E0M4TE:13H@ M,3!P=#L@1D].5"U&04U)3%DZ(%1I;65S($YE=R!2;VUA;B<@6QE/3-$)TU!4D=)3CH@,&EN(#!I M;B`P<'0[(%1%6%0M24Y$14Y4.B`P+C5I;B<^/&9O;G0@2!I;F-O7)O;&P@2X@5&AR;W5G:"!S979E M2X@26X@96%R;'D@,C`Q,"P@ M5&5A;5-T869F(&1I=F5S=&5D(&ET2!S M=&%F9FEN9R!B=7-I;F5S65A2P@86YD(&UA>&EM:7IE(&QO M;FF4],T0R/B8C,38P.SPO9F]N=#X\+W`^#0H\<"!S='EL93TS M1"=-05)'24XZ(#!I;B`P:6X@,'!T.R!415A4+4E.1$5.5#H@,"XU:6XG/CQF M;VYT('-T>6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ(%1I M;65S($YE=R!2;VUA;B<@2!496%M4W1A9F8L)B,Q-C`[26YC+B!T;R!$3$@@2&]L9&EN9W,@ M0V]R<"!A;F0@:&%S('-C:&5D=6QE9"!A(&UE971I;F<@;V8@:71S('-H87)E M:&]L9&5R6QE/3-$)TU!4D=) M3CH@,&EN(#!I;B`P<'0[(%1%6%0M24Y$14Y4.B`P+C5I;B<^/&9O;G0@F4],T0R/E1E86U3=&%F9B8C.#(Q-SMS(&]T M:&5R('=H;VQL>2UO=VYE9"!S=6)S:61I87)I97,@:6YC;'5D92!496%M4W1A M9F8@4G@L($1322!3=&%F9B!#;VYN6&EO;G,@3F]R=&AE87-T+"8C,38P.TEN M8RXL($1322!3=&%F9B!#;VYN6&EO;G,@4V]U=&AW97-T+"8C,38P.TEN8RXL M(%1E86U3=&%F9B!3;VQU=&EO;G,L)B,Q-C`[26YC+BP@5&5A;5-T869F($DL M)B,Q-C`[26YC+BP@5&5A;5-T869F($E)+"8C,38P.TEN8RXL(%1E86U3=&%F M9B!)24DL)B,Q-C`[26YC+BP@5&5A;5-T869F($E6+"8C,38P.TEN8RXL(%1E M86U3=&%F9B!624E)+"8C,38P.TEN8RXL(%1E86U3=&%F9B!)6"PF(S$V,#M) M;F,N+"!$:6=I=&%L($EN6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ(%1I;65S($YE M=R!2;VUA;B<@6QE M/3-$)TU!4D=)3CH@,&EN(#!I;B`P<'0[(%1%6%0M24Y$14Y4.B`P+C5I;B<^ M/&9O;G0@&5C=71I=F4@;V9F:6-E6QE/3-$)TU!4D=) M3CH@,&EN(#!I;B`P<'0G/CQF;VYT('-T>6QE/3-$)T9/3E0M4TE:13H@,3!P M=#L@1D].5"U&04U)3%DZ(%1I;65S($YE=R!2;VUA;B<@7!E.B!T97AT+VAT M;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@/&AE860^#0H@ M("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C;VYT96YT/3-$ M)W1E>'0O:'1M;#L@8VAA'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R M/@T*("`@("`@/'1R(&-L87-S/3-$F4],T0R/B8C,38P.SPO9F]N=#X\+W`^#0H\<"!S='EL M93TS1"=-05)'24XZ(#!I;B`P:6X@,'!T(#$U+CDU<'0[(%1%6%0M24Y$14Y4 M.B`M,34N.35P="<^/&(^/&9O;G0@F4],T0Q M/B8C,38P.R8C,38P.R8C,38P.R8C,38P.R8C,38P.R`\+V9O;G0^/"]B/CQB M/CQU/CQF;VYT('-T>6QE/3-$)T9/3E0M5T5)1TA4.B!B;VQD.R!&3TY4+5-) M6D4Z(#$P<'0G('-I>F4],T0R/DQ)455)1$E462!!3D0@4TE'3DE&24-!3E0@ M04-#3U5.5$E.1R!03TQ)0TE%4SH\+V9O;G0^/"]U/CPO8CX\+W`^#0H\<"!S M='EL93TS1"=-05)'24XZ(#!I;B`P:6X@,'!T(#$U+CDU<'0[(%1%6%0M24Y$ M14Y4.B`M,34N.35P="<^/&9O;G0@F4],T0R/D%T($1E8V5M8F5R)B,Q-C`[,S$L(#(P,3$L('1H M92!#;VUP86YY(&AA9"!A(&YE="!W;W)K:6YG(&-A<&ET86P@9&5F:6-I="!O M9B!A<'!R;WAI;6%T96QY("0S+C&EM871E;'D@)#8U+C@F(S$V,#MM M:6QL:6]N+B!&;W(@=&AE('1H2!I;F-U2`D,"XR)B,Q M-C`[;6EL;&EO;B!A;F0@)#`N-"8C,38P.VUI;&QI;VXL(')E2X@5&AE($-O;7!A;GD@:&%S(&$@;&EM:71E9"!A;6]U;G0@;V8@8V%S:"!A M;F0@8V%S:"!E<75I=F%L96YT'1E;G0@ M879A:6QA8FQE+"!F6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ(%1I M;65S($YE=R!2;VUA;B<@6QE/3-$)TU!4D=)3CH@,&EN(#!I;B`P<'0[(%1%6%0M24Y$14Y4.B`P M+C5I;B<^/&9O;G0@28C.#(Q-SMS(&-A2!B>2!A<'!R;WAI;6%T96QY("0Q+#`P,"PP,#`@87,@82!R97-U;'0@;V8@ M:6YC2!I;G9E2!A9W)E960@=&\@ M:6YC&EM=6T@879A:6QA8FEL:71Y('5N9&5R('1H92!, M;V%N(&%N9"!396-U2!!9W)E96UE;G0@8GD@86X@861D:71I;VYA;"`D M-3`P+#`P,"!A;F0@<')O=FED92!A;B!U;F)I;&QE9"!R96-E:79A8FQE(&9A M8VEL:71Y('=I=&AI;B!T:&4@;&EM:71S(&]F('1H92!,;V%N(&%N9"!396-U M2!!9W)E96UE;G0N($9O;&QO=VEN9R!T:&ES(&EN8W)E87-E+"!T:&4@ M;6%X:6UU;2!A=F%I;&%B:6QI='D@=6YD97(@=&AI2!B965N(&%M96YD960@=&\@1&5C96UB97(F M(S$V,#LS,2P@,C`Q,BX@26X@861D:71I;VXL('!U2P@=&AE(&9I;F%N8VEA;"!I;G-T:71U M=&EO;B!A;'-O(&AA2!T;R!T97)M:6YA=&4@=&AE($-O M;7!A;GDF(S@R,3<[2!U<&]N M('1H92!O8V-U2!O9B!T:&4@8V]L;&%T97)A;"X@070@<')E6QE/3-$)TU!4D=)3CH@,&EN(#!I;B`P<'0[ M(%1%6%0M24Y$14Y4.B`P+C5I;B<^/&9O;G0@F4],T0R/DUA;F%G96UE;G0@8F5L:65V97,L(&%T('!R97-E;G0L('1H M870Z("AA*28C,38P.V-A2`D,"XU)B,Q-C`[;6EL;&EO;B!A6UE;G0@;V8@8V5R M=&%I;B!L:6%B:6QI=&EE'!E8W1E M9"!T;R!B92!S971T;&5D(&EN(&-A28C.#(Q-SMS(&]P97)A=&EO M;G,@9F]R('1W96QV92!M;VYT:',@9G)O;2!T:&4@9&%T92!O9B!T:&5S92!F M:6YA;F-I86P@2!O9B!T M:&5S92!F86-T;W)S(&YO="!O8V-U2!E>'!E8W1E9"P@=&AE2!O9B!T:&5S92!A8W1I;VYS(&-O=6QD(&UA=&5R M:6%L;'D@:&%R;2!T:&4@0V]M<&%N>28C.#(Q-SMS(&)U2!M87D@<'5R2P@97%U:71Y+6)A2!N965D960@9G5N9',N M($EF('1H92!#;VUP86YY(')A:7-E&ES=&EN9R!S:&%R M96AO;&1EF4],T0R/B8C,38P.SPO9F]N=#X\+W`^ M#0H\<"!S='EL93TS1"=-05)'24XZ(#!I;B`P:6X@,'!T.R!415A4+4E.1$5. M5#H@,"XU:6XG/CQF;VYT('-T>6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@1D]. M5"U&04U)3%DZ(%1I;65S($YE=R!2;VUA;B<@2!D97)I=F5S(&%L;"!O9B!I=',@&ES=&EN9R!W;W)K(&%N9"!E>'!A;G-I;VX@;V8@;F5W(&)U&EM=6T@ M=&]T86P@=F%L=64@=6YD97(@=&AI2`D,30U+#`P,"PP,#`@<'5R2!T:&4@1%9!+B!4:&4@=&5R;2!O9B!T:&4@87=A65A2`T M-24@;V8@:71S(')E=F5N=64@:6X@=&AE('EE87(@96YD960@4V5P=&5M8F5R M)B,Q-C`[,S`L(#(P,3$L(&EN(')E2!H96QD(&]R9&5R(&-O=F5R('1H&ES=&EN9R!C;VYT65A'1E;F1E9"!B>2!T:&4@1%9!(&]N(&$@28C.#(Q-SMS(')E2!A9F9E8W1E9"!I M;B!T:&4@979E;G0@=&AA="!W92!A6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@ M1D].5"U&04U)3%DZ(%1I;65S($YE=R!2;VUA;B<@6QE/3-$)TU!4D=)3CH@,&EN(#!I;B`P<'0G M/CQB/CQF;VYT('-T>6QE/3-$)T9/3E0M5T5)1TA4.B!B;VQD.R!&3TY4+5-) M6D4Z(#$P<'0[($9/3E0M1D%-24Q9.B!4:6UEF4] M,T0R/D)A2!496%M4W1A M9F8L('=I=&AO=70@875D:70L('!U&-H86YG92!#;VUM:7-S:6]N("@F(S@R,C`[4T5#)B,X,C(Q.RDN M($-E2!T:&4@6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@ M1D].5"U&04U)3%DZ(%1I;65S($YE=R!2;VUA;B<@6QE/3-$)TU!4D=)3CH@,&EN(#!I;B`P<'0G M/CQF;VYT('-T>6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ M(%1I;65S($YE=R!2;VUA;B<@6EN9R!C M;VYS;VQI9&%T960@9FEN86YC:6%L('-T871E;65N=',@:6YC;'5D92!T:&4@ M86-C;W5N=',@;V8@5&5A;5-T869F(&%N9"!I=',@2!O=VYE9"X@06QL(&EN=&5R8V]M<&%N M>2!B86QA;F-EF4],T0R/B8C,38P.SPO9F]N=#X\+W`^#0H\<"!S M='EL93TS1"=-05)'24XZ(#!I;B`P:6X@,'!T)SX\8CX\9F]N="!S='EL93TS M1"=&3TY4+5=%24=(5#H@8F]L9#L@1D].5"U325I%.B`Q,'!T.R!&3TY4+49! M34E,63H@5&EM97,@3F5W(%)O;6%N)R!S:7IE/3-$,CY2979E;G5E(%)E8V]G M;FET:6]N/"]F;VYT/CPO8CX\+W`^#0H\<"!S='EL93TS1"=-05)'24XZ(#!I M;B`P:6X@,'!T)SX\9F]N="!S='EL93TS1"=&3TY4+5-)6D4Z(#$P<'0[($9/ M3E0M1D%-24Q9.B!4:6UEF4],T0R/B8C,38P.SPO M9F]N=#X\+W`^#0H\<"!S='EL93TS1"=-05)'24XZ(#!I;B`P:6X@,'!T.R!4 M15A4+4E.1$5.5#H@,"XU:6XG/CQF;VYT('-T>6QE/3-$)T9/3E0M4TE:13H@ M,3!P=#L@1D].5"U&04U)3%DZ(%1I;65S($YE=R!2;VUA;B<@2!T:&4@1V5N97)A;"!3 M97)V:6-E&5D('5N:70@2!I;F-L=61E(&9I>&5D('!R:6-E M(&]R(&9L97AI8FQY('!R:6-E9"!C;VYTFEN9R!R979E;G5E(&%N9"!PF%B M;&4L(&%N9"!E87)N960N(%1E86U3=&%F9B!C;VYS:61E&ES=',[("AB*28C,38P.W1H92!S97)V:6-E M&5D(&]R(&1E=&5R;6EN86)L92!A M;F0@9G)E92!O9B!C;VYT:6YG96YC:65S(&]R('-I9VYI9FEC86YT('5N8V5R M=&%I;G1I97,[(&%N9"`H9"DF(S$V,#MC;VQL96-T86)I;&ET>2!I6QE/3-$)TU!4D=) M3CH@,&EN(#!I;B`P<'0[(%1%6%0M24Y$14Y4.B`P+C5I;B<^/&9O;G0@F4],T0R/E)E=F5N=65S(')E;&%T960@=&\@ M2!O M9B!T:&4@1F5D97)A;"!G;W9E2!D979E;&]P960@86YD(&-A;&-U;&%T M960@86X@86UO=6YT(&9O6QE/3-$)TU!4D=)3CH@,&EN(#!I;B`P<'0[(%1%6%0M24Y$14Y4.B`P+C5I M;B<^/&9O;G0@F4],T0R/D1U65AF4] M,T0R/B8C,38P.SPO9F]N=#X\+W`^#0H\<"!S='EL93TS1"=-05)'24XZ(#!I M;B`P:6X@,'!T)SX\8CX\=3X\9F]N="!S='EL93TS1"=&3TY4+5=%24=(5#H@ M8F]L9#L@1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@5&EM97,@3F5W M(%)O;6%N)R!S:7IE/3-$,CY';V]D=VEL;#PO9F]N=#X\+W4^/"]B/CPO<#X- M"CQP('-T>6QE/3-$)TU!4D=)3CH@,&EN(#!I;B`P<'0G/CQF;VYT('-T>6QE M/3-$)T9/3E0M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ(%1I;65S($YE=R!2 M;VUA;B<@6QE/3-$ M)TU!4D=)3CH@,&EN(#!I;B`P<'0[(%1%6%0M24Y$14Y4.B`P+C5I;B<^/&9O M;G0@2!O7-I2!H87,@8V]N8VQU9&5D('1H870@ M;F\@:6UP86ER;65N="!L;W-S(&]N(&=O;V1W:6QL('=A2!M86YA M9V5M96YT(&AA=FEN9R!R96=A'!E8W1A=&EO;G,@ M86YD('!O=&5N=&EA;"!F=71U28C.#(Q-SMS(&5C;VYO;6EC&-E961E9"!T:&4@8V%R MF4],T0R/B8C,38P.SPO9F]N M=#X\+W`^#0H\<"!S='EL93TS1"=-05)'24XZ(#!I;B`P:6X@,'!T)SX\8CX\ M=3X\9F]N="!S='EL93TS1"=&3TY4+5=%24=(5#H@8F]L9#L@1D].5"U325I% M.B`Q,'!T.R!&3TY4+49!34E,63H@5&EM97,@3F5W(%)O;6%N)R!S:7IE/3-$ M,CY);G1A;F=I8FQE($%S6QE/3-$)TU!4D=)3CH@,&EN(#!I;B`P<'0G/CQF;VYT('-T>6QE/3-$)T9/ M3E0M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ(%1I;65S($YE=R!2;VUA;B<@ M6QE/3-$)TU!4D=) M3CH@,&EN(#!I;B`P<'0[(%1%6%0M24Y$14Y4.B`P+C5I;B<^/&9O;G0@2!A<'!L:6-A8FQE(&%C M8V]U;G1I;F<@2!T;R!$3$@@ M2&]L9&EN9W,@0V]R<"X@26X@8V]N;F5C=&EO;B!W:71H('1H97-E(&%C=&EO M;G,L('1H92!#;VUP86YY('=I;&P@8V5A2!T M:&4@0V]M<&%N>2X@07,@82!R97-U;'0@;V8@=&AE(&-O6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ(%1I;65S($YE M=R!2;VUA;B<@6QE M/3-$)TU!4D=)3CH@,&EN(#!I;B`P<'0G/CQB/CQU/CQF;VYT('-T>6QE/3-$ M)T9/3E0M5T5)1TA4.B!B;VQD.R!&3TY4+5-)6D4Z(#$P<'0[($9/3E0M1D%- M24Q9.B!4:6UEF4],T0R/DEN8V]M92!487AE6QE/3-$)TU!4D=)3CH@,&EN(#!I M;B`P<'0G/CQF;VYT('-T>6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@1D].5"U& M04U)3%DZ(%1I;65S($YE=R!2;VUA;B<@6QE/3-$)TU!4D=)3CH@,&EN(#!I;B`P<'0[(%1%6%0M M24Y$14Y4.B`P+C5I;B<^/&9O;G0@2!D969E65A"!A&EM871E;'D@)#$U M+C8@;6EL;&EO;BX\+V9O;G0^/"]P/@T*/'`@F4],T0R/B8C,38P.SPO9F]N=#X\+W`^#0H\<"!S='EL93TS1"=- M05)'24XZ(#!I;B`P:6X@,'!T.R!415A4+4E.1$5.5#H@,"XU:6XG/CQF;VYT M('-T>6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ(%1I;65S M($YE=R!2;VUA;B<@F5D(&EN(&%N(&5N=&ET>28C.#(Q-SMS(&9I;F%N8VEA;"!S=&%T M96UE;G1S(&%N9"!P2!C;VYD=6-T"!R96QA=&5D(&EN=&5R97-T(&]R('!E;F%L=&EE M&EN9R!A=71H;W)I=&EE2!O<&5N+"!B>2!S=&%T=71E+"!F M;W(@2!I;B!P2!P96YD:6YG(&%U9&ETF4],T0R M/B8C,38P.SPO9F]N=#X\+W`^#0H\<"!S='EL93TS1"=-05)'24XZ(#!I;B`P M:6X@,'!T)SX\8CX\9F]N="!S='EL93TS1"=&3TY4+5=%24=(5#H@8F]L9#L@ M1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@5&EM97,@3F5W(%)O;6%N M)R!S:7IE/3-$,CY3=&]C:RU"87-E9"!#;VUP96YS871I;VX\+V9O;G0^/"]B M/CPO<#X-"CQP('-T>6QE/3-$)TU!4D=)3CH@,&EN(#!I;B`P<'0G/CQF;VYT M('-T>6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ(%1I;65S M($YE=R!2;VUA;B<@6QE/3-$)TU!4D=)3CH@,&EN(#!I;B`P<'0[(%1%6%0M24Y$14Y4.B`P+C5I M;B<^/&9O;G0@2!A=V%R9',@*&9OF4],T0R/B8C,38P.SPO9F]N=#X\+W`^#0H\<"!S M='EL93TS1"=-05)'24XZ(#!I;B`P:6X@,'!T)SX\:3X\9F]N="!S='EL93TS M1"=&3TY4+5-)6D4Z(#$P<'0[($9/3E0M4U193$4Z(&ET86QI8SL@1D].5"U& M04U)3%DZ(%1I;65S($YE=R!2;VUA;B<@6QE/3-$)TU!4D=)3CH@,&EN(#!I;B`P<'0G/CQF;VYT('-T M>6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ(%1I;65S($YE M=R!2;VUA;B<@6QE M/3-$)TU!4D=)3CH@,&EN(#!I;B`P<'0[(%1%6%0M24Y$14Y4.B`P+C5I;B<^ M/&9O;G0@6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ M(%1I;65S($YE=R!2;VUA;B<@6QE/3-$)TU!4D=)3CH@,&EN(#!I;B`P<'0[(%1%6%0M24Y$14Y4 M.B`P+C5I;B<^/&9O;G0@2!D:60@;F]T(&=R86YT(&%N>2!O<'1I;VYS('1O(&5M<&QO M>65E2!B;V%R9"XF(S$V,#L@5&AE($-O M;7!A;GD@9&ED(&YO="!G65E(&]P=&EO;G,@ M9'5R:6YG('1H92!T:')E92!M;VYT:',@96YD960@1&5C96UB97(F(S$V,#LS M,2P@,C`Q,"!A;F0@:6YC=7)R960@2!G6UE;G0@86=R965M96YT('=I=&@@=&AE($-O;7!A;GDF(S@R,3<[ M&5C=71I=F4@5FEC92!0'!E;G-E(&]F("0Q."PP,#`@:6X@8V]N M;F5C=&EO;B!W:71H('1H:7,@9W)A;G0N/"]F;VYT/CPO<#X-"CQP('-T>6QE M/3-$)TU!4D=)3CH@,&EN(#!I;B`P<'0[(%1%6%0M04Q)1TXZ(&-E;G1EF4] M,T0R/D1U2!D:60@;F]T(&=R M86YT(&%N>2!S:&%R97,@;V8@2!G'!E;G-E(&%S2X@1'5R:6YG('1H92!T M:')E92!M;VYT:',@96YD960@1&5C96UB97(F(S$V,#LS,2P@,C`Q,2!A;F0@ M,C`Q,"P@;F\@6QE/3-$)T9/3E0M4TE:13H@ M,3!P=#L@1D].5"U&04U)3%DZ(%1I;65S($YE=R!2;VUA;B<@6QE/3-$)TU!4D=)3CH@,&EN(#!I M;B`P<'0[(%1%6%0M24Y$14Y4.B`P+C5I;B<^/&9O;G0@F4],T0R/B8C,38P.SPO9F]N=#X\+W`^#0H\=&%B;&4@6QE M/3-$)U!!1$1)3D6QE M/3-$)TU!4D=)3CH@,&EN(#!I;B`P<'0G/CQB/CQF;VYT('-T>6QE/3-$)T9/ M3E0M5T5)1TA4.B!B;VQD.R!&3TY4+5-)6D4Z(#%P=#L@0T],3U(Z(&)L86-K M.R!&3TY4+49!34E,63H@5&EM97,@3F5W(%)O;6%N)R!C;VQOF4],T0Q/B8C,38P.SPO9F]N=#X\+V(^/"]P/CPO=&0^#0H\=&0@6QE M/3-$)TU!4D=)3CH@,&EN(#!I;B`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`P<'0[ M(%1%6%0M04Q)1TXZ(&-E;G1E6QE/3-$)U!!1$1)3D6QE/3-$)T9/3E0M5T5)1TA4.B!B;VQD.R!&3TY4+5-) M6D4Z(#%P=#L@0T],3U(Z(&)L86-K.R!&3TY4+49!34E,63H@5&EM97,@3F5W M(%)O;6%N)R!C;VQOF4],T0Q/B8C,38P.SPO9F]N=#X\ M+V(^/"]P/CPO=&0^#0H\=&0@6QE/3-$)TU!4D=)3CH@,&EN(#!I;B`P<'0[(%1%6%0M M04Q)1TXZ(&-E;G1E6QE/3-$)TU!4D=)3CH@,&EN(#!I;B`P<'0[(%1%6%0M04Q)1TXZ(')I9VAT M)R!A;&EG;CTS1')I9VAT/CQF;VYT('-T>6QE/3-$)T9/3E0M4TE:13H@,3!P M=#L@0T],3U(Z(&)L86-K.R!&3TY4+49!34E,63H@5&EM97,@3F5W(%)O;6%N M)R!C;VQOF4],T0R/C$L-3,W+#4P,#PO9F]N=#X\+W`^ M/"]T9#X-"CQT9"!S='EL93TS1"=0041$24Y'+5))1TA4.B`P:6X[(%!!1$1) M3D6QE/3-$)TU!4D=) M3CH@,&EN(#!I;B`P<'0G/CQF;VYT('-T>6QE/3-$)T9/3E0M4TE:13H@,3!P M=#L@0T],3U(Z(&)L86-K.R!&3TY4+49!34E,63H@5&EM97,@3F5W(%)O;6%N M)R!C;VQOF4],T0R/B0\+V9O;G0^/"]P/CPO=&0^#0H\ M=&0@6QE/3-$)TU!4D=)3CH@,&EN(#!I M;B`P<'0[(%1%6%0M04Q)1TXZ(')I9VAT)R!A;&EG;CTS1')I9VAT/CQF;VYT M('-T>6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@0T],3U(Z(&)L86-K.R!&3TY4 M+49!34E,63H@5&EM97,@3F5W(%)O;6%N)R!C;VQOF4] M,T0R/C$N,3D\+V9O;G0^/"]P/CPO=&0^#0H\=&0@6QE/3-$)TU!4D=)3CH@,&EN(#!I M;B`P<'0G/CQF;VYT('-T>6QE/3-$)T9/3E0M4TE:13H@,7!T.R!#3TQ/4CH@ M8FQA8VL[($9/3E0M1D%-24Q9.B!4:6UE6QE/3-$)T)/4D1%4BU224=(5#H@;65D:75M(&YO;F4[(%!!1$1)3D'0@ M,BXR-7!T(&1O=6)L92<@=F%L:6=N/3-$8F]T=&]M('=I9'1H/3-$,30E(&)G M8V]L;W(],T0C0T-%149&/@T*/'`@6QE/3-$)U!!1$1)3DF4],T0R/B8C,38P.SPO9F]N=#X\+W`^/"]T9#X-"CQT9"!S='EL M93TS1"="3U)$15(M4DE'2%0Z(&UE9&EU;2!N;VYE.R!0041$24Y'+5))1TA4 M.B`P:6X[($)/4D1%4BU43U`Z(&UE9&EU;2!N;VYE.R!0041$24Y'+4Q%1E0Z M(#!I;CL@0D%#2T=23U5.1#H@(V-C965F9CL@4$%$1$E.1RU"3U143TTZ(#!I M;CL@0D]21$52+4Q%1E0Z(&UE9&EU;2!N;VYE.R!724142#H@,2XS)3L@4$%$ M1$E.1RU43U`Z(#!I;CL@0D]21$52+4)/5%1/33H@=VEN9&]W=&5X="`R+C(U M<'0@9&]U8FQE)R!V86QI9VX],T1B;W1T;VT@=VED=&@],T0Q)2!B9V-O;&]R M/3-$(T-#145&1CX-"CQP('-T>6QE/3-$)TU!4D=)3CH@,&EN(#!I;B`P<'0G M/CQF;VYT('-T>6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@0T],3U(Z(&)L86-K M.R!&3TY4+49!34E,63H@5&EM97,@3F5W(%)O;6%N)R!C;VQOF4],T0R/B0\+V9O;G0^/"]P/CPO=&0^#0H\=&0@6QE/3-$)U!!1$1) M3DF4],T0R/B8C,38P.SPO9F]N=#X\+W`^/"]T9#X\+W1R/@T* M/'1R/@T*/'1D('-T>6QE/3-$)U!!1$1)3D6QE/3-$)TU!4D=)3CH@,&EN(#!I;B`P<'0@,3!P=#L@ M5$585"U)3D1%3E0Z("TQ,'!T)SX\9F]N="!S='EL93TS1"=&3TY4+5-)6D4Z M(#$P<'0[($-/3$]2.B!B;&%C:SL@1D].5"U&04U)3%DZ(%1I;65S($YE=R!2 M;VUA;B<@8V]L;W(],T1B;&%C:R!S:7IE/3-$,CY'6QE/3-$)U!!1$1)3DF4] M,T0R/B8C,38P.SPO9F]N=#X\+W`^/"]T9#X-"CQT9"!S='EL93TS1"=0041$ M24Y'+5))1TA4.B`P:6X[(%!!1$1)3D6QE M/3-$)TU!4D=)3CH@,&EN(#!I;B`P<'0G/CQF;VYT('-T>6QE/3-$)T9/3E0M M4TE:13H@,7!T.R!#3TQ/4CH@8FQA8VL[($9/3E0M1D%-24Q9.B!4:6UE6QE/3-$)U!!1$1)3D6QE/3-$)TU!4D=)3CH@,&EN(#!I;B`P<'0G/CQF M;VYT('-T>6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@0T],3U(Z(&)L86-K.R!& M3TY4+49!34E,63H@5&EM97,@3F5W(%)O;6%N)R!C;VQOF4],T0R/B0\+V9O;G0^/"]P/CPO=&0^#0H\=&0@F4],T0R/B8C,38P.SPO9F]N=#X\+W`^/"]T9#X-"CQT M9"!S='EL93TS1"="3U)$15(M4DE'2%0Z(&UE9&EU;2!N;VYE.R!0041$24Y' M+5))1TA4.B`P:6X[($)/4D1%4BU43U`Z(&UE9&EU;2!N;VYE.R!0041$24Y' M+4Q%1E0Z(#!I;CL@4$%$1$E.1RU"3U143TTZ(#!I;CL@0D]21$52+4Q%1E0Z M(&UE9&EU;2!N;VYE.R!724142#H@,30N,#8E.R!0041$24Y'+51/4#H@,&EN M.R!"3U)$15(M0D]45$]-.B!M961I=6T@;F]N92<@=F%L:6=N/3-$8F]T=&]M M('=I9'1H/3-$,30E/@T*/'`@F4],T0R/B8C,38P.SPO9F]N M=#X\+W`^/"]T9#X-"CQT9"!S='EL93TS1"=0041$24Y'+5))1TA4.B`P:6X[ M(%!!1$1)3DF4],T0R/B8C M,38P.SPO9F]N=#X\+W`^/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M4DE' M2%0Z(&UE9&EU;2!N;VYE.R!0041$24Y'+5))1TA4.B`P:6X[($)/4D1%4BU4 M3U`Z(&UE9&EU;2!N;VYE.R!0041$24Y'+4Q%1E0Z(#!I;CL@4$%$1$E.1RU" M3U143TTZ(#!I;CL@0D]21$52+4Q%1E0Z(&UE9&EU;2!N;VYE.R!724142#H@ M,30N,#8E.R!0041$24Y'+51/4#H@,&EN.R!"3U)$15(M0D]45$]-.B!M961I M=6T@;F]N92<@=F%L:6=N/3-$8F]T=&]M('=I9'1H/3-$,30E(&-O;'-P86X] M,T0R/@T*/'`@F4],T0R/B8C,38P.SPO9F]N=#X\+W`^/"]T M9#X-"CQT9"!S='EL93TS1"=0041$24Y'+5))1TA4.B`P:6X[(%!!1$1)3DF4],T0R/B8C,38P.SPO9F]N M=#X\+W`^/"]T9#X\+W1R/@T*/'1R/@T*/'1D('-T>6QE/3-$)U!!1$1)3D6QE/3-$)TU!4D=)3CH@,&EN(#!I M;B`P<'0@,3!P=#L@5$585"U)3D1%3E0Z("TQ,'!T)SX\9F]N="!S='EL93TS M1"=&3TY4+5-)6D4Z(#$P<'0[($-/3$]2.B!B;&%C:SL@1D].5"U&04U)3%DZ M(%1I;65S($YE=R!2;VUA;B<@8V]L;W(],T1B;&%C:R!S:7IE/3-$,CY#86YC M96QL960\+V9O;G0^/"]P/CPO=&0^#0H\=&0@6QE/3-$)TU!4D=)3CH@,&EN(#!I;B`P M<'0G/CQF;VYT('-T>6QE/3-$)T9/3E0M4TE:13H@,7!T.R!#3TQ/4CH@8FQA M8VL[($9/3E0M1D%-24Q9.B!4:6UE6QE M/3-$)U!!1$1)3D6QE/3-$)TU! M4D=)3CH@,&EN(#!I;B`P<'0[(%1%6%0M04Q)1TXZ(')I9VAT)R!A;&EG;CTS M1')I9VAT/CQF;VYT('-T>6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@0T],3U(Z M(&)L86-K.R!&3TY4+49!34E,63H@5&EM97,@3F5W(%)O;6%N)R!C;VQOF4],T0R/B@R,3(L-3`P/"]F;VYT/CPO<#X\+W1D/@T*/'1D M('-T>6QE/3-$)U!!1$1)3D6QE/3-$)U!!1$1)3D6QE/3-$)TU!4D=)3CH@,&EN(#!I;B`P<'0G/CQF;VYT('-T>6QE/3-$ M)T9/3E0M4TE:13H@,3!P=#L@0T],3U(Z(&)L86-K.R!&3TY4+49!34E,63H@ M5&EM97,@3F5W(%)O;6%N)R!C;VQOF4],T0R/B0\+V9O M;G0^/"]P/CPO=&0^#0H\=&0@F4],T0R/B8C,38P M.SPO9F]N=#X\+W`^/"]T9#X-"CQT9"!S='EL93TS1"=0041$24Y'+5))1TA4 M.B`P:6X[(%!!1$1)3D6QE/3-$)U!!1$1)3D6QE/3-$)U!!1$1)3D6QE/3-$)TU!4D=)3CH@,&EN M(#!I;B`P<'0[(%1%6%0M04Q)1TXZ(')I9VAT)R!A;&EG;CTS1')I9VAT/CQF M;VYT('-T>6QE/3-$)T9/3E0M4TE:13H@,7!T.R!#3TQ/4CH@8FQA8VL[($9/ M3E0M1D%-24Q9.B!!6QE/3-$)TU!4D=)3CH@,&EN(#!I;B`P<'0G M/CQF;VYT('-T>6QE/3-$)T9/3E0M4TE:13H@,7!T.R!#3TQ/4CH@8FQA8VL[ M($9/3E0M1D%-24Q9.B!!6QE/3-$)U!!1$1)3DF4],T0R/B8C,38P.SPO9F]N M=#X\+W`^/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M4DE'2%0Z(&UE9&EU M;2!N;VYE.R!0041$24Y'+5))1TA4.B`P:6X[($)/4D1%4BU43U`Z(&UE9&EU M;2!N;VYE.R!0041$24Y'+4Q%1E0Z(#!I;CL@4$%$1$E.1RU"3U143TTZ(#!I M;CL@0D]21$52+4Q%1E0Z(&UE9&EU;2!N;VYE.R!724142#H@,30N,#8E.R!0 M041$24Y'+51/4#H@,&EN.R!"3U)$15(M0D]45$]-.B!W:6YD;W=T97AT(#%P M="!S;VQI9"<@=F%L:6=N/3-$8F]T=&]M('=I9'1H/3-$,30E/@T*/'`@6QE/3-$)TU!4D=)3CH@,&EN(#!I;B`P M<'0[(%1%6%0M04Q)1TXZ(')I9VAT)R!A;&EG;CTS1')I9VAT/CQF;VYT('-T M>6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@0T],3U(Z(&)L86-K.R!&3TY4+49! M34E,63H@5&EM97,@3F5W(%)O;6%N)R!C;VQOF4],T0R M/B8C.#(Q,CL\+V9O;G0^/"]P/CPO=&0^#0H\=&0@6QE/3-$)TU!4D=)3CH@ M,&EN(#!I;B`P<'0G/CQF;VYT('-T>6QE/3-$)T9/3E0M4TE:13H@,7!T.R!# M3TQ/4CH@8FQA8VL[($9/3E0M1D%-24Q9.B!!F4],T0R/B8C,38P.SPO9F]N=#X\+W`^/"]T9#X-"CQT9"!S='EL93TS M1"=0041$24Y'+5))1TA4.B`P:6X[(%!!1$1)3DF4],T0R/B8C,38P.SPO9F]N=#X\+W`^/"]T9#X-"CQT M9"!S='EL93TS1"=0041$24Y'+5))1TA4.B`P:6X[(%!!1$1)3D6QE/3-$)U!!1$1)3D6QE/3-$)U!!1$1)3DF4],T0R M/B8C,38P.SPO9F]N=#X\+W`^/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M M4DE'2%0Z(&UE9&EU;2!N;VYE.R!0041$24Y'+5))1TA4.B`P:6X[($)/4D1% M4BU43U`Z(&UE9&EU;2!N;VYE.R!0041$24Y'+4Q%1E0Z(#!I;CL@0D%#2T=2 M3U5.1#H@(V-C965F9CL@4$%$1$E.1RU"3U143TTZ(#!I;CL@0D]21$52+4Q% M1E0Z(&UE9&EU;2!N;VYE.R!724142#H@,30N,#8E.R!0041$24Y'+51/4#H@ M,&EN.R!"3U)$15(M0D]45$]-.B!W:6YD;W=T97AT(#(N,C5P="!D;W5B;&4G M('9A;&EG;CTS1&)O='1O;2!W:61T:#TS1#$T)2!B9V-O;&]R/3-$(T-#145& M1CX-"CQP('-T>6QE/3-$)TU!4D=)3CH@,&EN(#!I;B`P<'0[(%1%6%0M04Q) M1TXZ(')I9VAT)R!A;&EG;CTS1')I9VAT/CQF;VYT('-T>6QE/3-$)T9/3E0M M4TE:13H@,3!P=#L@0T],3U(Z(&)L86-K.R!&3TY4+49!34E,63H@5&EM97,@ M3F5W(%)O;6%N)R!C;VQOF4],T0R/C$L,S4P+#`P,#PO M9F]N=#X\+W`^/"]T9#X-"CQT9"!S='EL93TS1"=0041$24Y'+5))1TA4.B`P M:6X[(%!!1$1)3D'0@,BXR-7!T(&1O=6)L M92<@=F%L:6=N/3-$8F]T=&]M('=I9'1H/3-$,24@8F=C;VQO6QE/3-$)T)/4D1%4BU224=( M5#H@;65D:75M(&YO;F4[(%!!1$1)3D'0@,BXR-7!T(&1O M=6)L92<@=F%L:6=N/3-$8F]T=&]M('=I9'1H/3-$,3(E(&)G8V]L;W(],T0C M0T-%149&/@T*/'`@6QE/3-$)TU!4D=)3CH@,&EN(#!I;B`P<'0G/CQF;VYT M('-T>6QE/3-$)T9/3E0M4TE:13H@,7!T.R!#3TQ/4CH@8FQA8VL[($9/3E0M M1D%-24Q9.B!4:6UE6QE/3-$)T)/4D1% M4BU224=(5#H@;65D:75M(&YO;F4[(%!!1$1)3D6QE/3-$)TU!4D=)3CH@,&EN(#!I;B`P<'0[(%1%6%0M04Q)1TXZ(')I M9VAT)R!A;&EG;CTS1')I9VAT/CQF;VYT('-T>6QE/3-$)T9/3E0M4TE:13H@ M,3!P=#L@0T],3U(Z(&)L86-K.R!&3TY4+49!34E,63H@5&EM97,@3F5W(%)O M;6%N)R!C;VQOF4],T0R/C$L,#0S+#@W-3PO9F]N=#X\ M+W`^/"]T9#X-"CQT9"!S='EL93TS1"=0041$24Y'+5))1TA4.B`P:6X[(%!! M1$1)3DF4],T0R/D%T($1E8V5M8F5R)B,Q-C`[,S$L(#(P,3$L('1H97)E M('=E2!F86-T;W)S(&EN(&5S=&%B M;&ES:&EN9R!T:&4@9F%I6QE/3-$)T9/3E0M4TE:13H@,3!P M=#L@1D].5"U&04U)3%DZ(%1I;65S($YE=R!2;VUA;B<@6QE/3-$)TU!4D=)3CH@,&EN(#!I;B`P M<'0[(%1%6%0M24Y$14Y4.B`P+C5I;B<^/&9O;G0@6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ M(%1I;65S($YE=R!2;VUA;B<@6QE/3-$)TU!4D=)3CH@,&EN(#!I;B`P<'0[(%1%6%0M24Y$14Y4 M.B`P+C5I;B<^/&9O;G0@28C.#(Q-SMS(&-L M;W-I;F<@2!O<'1I;VYS(&]N('1H M;W-E(&1A=&5S+B!4:&ES(&%M;W5N="!C:&%N9V5S(&)A6QE/3-$)T9/3E0M4TE: M13H@,3!P=#L@1D].5"U&04U)3%DZ(%1I;65S($YE=R!2;VUA;B<@6QE/3-$)TU!4D=)3CH@,&EN M(#!I;B`P<'0[(%1%6%0M24Y$14Y4.B`P+C5I;B<^/&9O;G0@6QE/3-$)TU!4D=)3CH@,&EN(#!I;B`P<'0[(%1% M6%0M24Y$14Y4.B`P+C5I;B<^/&9O;G0@F4],T0R/D9O'!I28C.#(Q-SMS(%-T2!";V%R9"PF M(S$V,#L@=VAI8V@@;W!T:6]N65E(&]P=&EO;B!A;F0@=V%R M'!E;G-E(&9OF5D(&YO;BUE;7!L;WEE92!O<'1I;VX@86YD('=A M6QE/3-$)TU!4D=)3CH@,&EN(#!I;B`P<'0[(%1%6%0M M04Q)1TXZ(&-E;G1E3PO9F]N=#X\+V(^/"]P/@T*/'`@F4],T0R/D1U2!A('1O=&%L(&]F("0Q-S$L,#`P+"!C;VUP65E M(&1I6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@ M1D].5"U&04U)3%DZ(%1I;65S($YE=R!2;VUA;B<@6QE/3-$)TU!4D=)3CH@,&EN(#!I;B`P<'0G M/CQB/CQF;VYT('-T>6QE/3-$)T9/3E0M5T5)1TA4.B!B;VQD.R!&3TY4+5-) M6D4Z(#$P<'0[($9/3E0M1D%-24Q9.B!4:6UEF4] M,T0R/D9A:7(@5F%L=64@;V8@1FEN86YC:6%L($ENF4],T0R/B8C,38P.SPO9F]N=#X\+W`^#0H\ M<"!S='EL93TS1"=-05)'24XZ(#!I;B`P:6X@,'!T.R!415A4+4E.1$5.5#H@ M,"XU:6XG/CQF;VYT('-T>6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@1D].5"U& M04U)3%DZ(%1I;65S($YE=R!2;VUA;B<@'!E;G-E+B!$=64@=&\@ M=&AE('-H;W)T('1EF4] M,T0R/B8C,38P.SPO9F]N=#X\+W`^#0H\<"!S='EL93TS1"=-05)'24XZ(#!I M;B`P:6X@,'!T)SX\8CX\9F]N="!S='EL93TS1"=&3TY4+5=%24=(5#H@8F]L M9#L@1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@5&EM97,@3F5W(%)O M;6%N)R!S:7IE/3-$,CY,;W-S(%!EF4],T0R/DQO2!T:&4@=V5I9VAT960@879E2XF(S$V,#L@ M07,@F4],T0R/B8C,38P.SPO9F]N=#X\+W`^/"]T9#X\+W1R M/CPO=&%B;&4^#0H\'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA'0^/'-P86X^/"]S M<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$'0^/'1A8FQE('-T>6QE/3-$)V9O;G0M3HG5&EM97,@3F5W(%)O;6%N)RQT:6UE6QE/3-$)TU!4D=)3CH@,&EN(#!I;B`P<'0G/CQB/CQU/CQF;VYT('-T M>6QE/3-$)T9/3E0M5T5)1TA4.B!B;VQD.R!&3TY4+5-)6D4Z(#$P<'0[($9/ M3E0M1D%-24Q9.B!4:6UEF4],T0R/E-A;&4@;V8@ M5&5A;5-T869F(%)X/"]F;VYT/CPO=3X\+V(^/"]P/@T*/'`@F4],T0R/D)A6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@1D].5"U&04U) M3%DZ(%1I;65S($YE=R!2;VUA;B<@6QE/3-$)TU!4D=)3CH@,&EN(#!I;B`P<'0[(%1%6%0M24Y$ M14Y4.B`P+C5I;B<^/&9O;G0@2!A;&P@;V8@=&AE(&]P97)A M=&EN9R!A2!A;F0@061V86YT M86=E(%).(&-O;7!L971E9"!T:&4@86YA;'ES:7,@2!A;F0@)#4P+#`P,"!W87,@2!P87EM96YT2!H879E('-I;F-E M('9A8V%T960@=&AE('!R96UI6UE;G1S+B!4:&4@0V]M<&%N>2!I2!H87,@<')O=FED960@86X@86QL;W=A;F-E(&9O6QE/3-$)T9/3E0M4TE: M13H@,3!P=#L@1D].5"U&04U)3%DZ(%1I;65S($YE=R!2;VUA;B<@6QE/3-$)TU!4D=)3CH@,&EN M(#!I;B`P<'0G/CQB/CQU/CQF;VYT('-T>6QE/3-$)T9/3E0M5T5)1TA4.B!B M;VQD.R!&3TY4+5-)6D4Z(#$P<'0[($9/3E0M1D%-24Q9.B!4:6UEF4],T0R/D-O;F1E;G-E9"!&:6YA;F-I86P@26YF;W)M871I M;VX\+V9O;G0^/"]U/CPO8CX\+W`^#0H\<"!S='EL93TS1"=-05)'24XZ(#!I M;B`P:6X@,'!T)SX\9F]N="!S='EL93TS1"=&3TY4+5-)6D4Z(#$P<'0[($9/ M3E0M1D%-24Q9.B!4:6UEF4],T0R/B8C,38P.SPO M9F]N=#X\+W`^#0H\<"!S='EL93TS1"=-05)'24XZ(#!I;B`P:6X@,'!T.R!4 M15A4+4E.1$5.5#H@,"XU:6XG/CQF;VYT('-T>6QE/3-$)T9/3E0M4TE:13H@ M,3!P=#L@1D].5"U&04U)3%DZ(%1I;65S($YE=R!2;VUA;B<@6QE/3-$)TU!4D=)3CH@ M,&EN(#!I;B`P<'0G/CQF;VYT('-T>6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@ M1D].5"U&04U)3%DZ(%1I;65S($YE=R!2;VUA;B<@6QE/3-$)TU!4D=)3CH@,&EN(#!I;B`P<'0G/CQB/CQF;VYT('-T>6QE M/3-$)T9/3E0M5T5)1TA4.B!B;VQD.R!&3TY4+5-)6D4Z(#AP=#L@1D].5"U& M04U)3%DZ(%1I;65S($YE=R!2;VUA;B<@6QE/3-$)U!!1$1)3D6QE/3-$)T9/3E0M5T5)1TA4.B!B;VQD.R!&3TY4+5-)6D4Z M(#%P=#L@1D].5"U&04U)3%DZ(%1I;65S($YE=R!2;VUA;B<@F4],T0Q/D1E M8V5M8F5R)B,Q-C`[,S$L/&)R("\^#0HR,#$Q/"]F;VYT/CPO8CX\+W`^/"]T M9#X-"CQT9"!S='EL93TS1"=0041$24Y'+5))1TA4.B`P:6X[(%!!1$1)3DF4],T0Q/B8C,38P.SPO9F]N=#X\+V(^ M/"]P/CPO=&0^#0H\=&0@6QE/3-$)TU!4D=)3CH@,&EN(#!I;B`P<'0[(%1%6%0M04Q)1TXZ M(&-E;G1E6QE/3-$ M)U!!1$1)3D6QE/3-$)T9/3E0M5T5)1TA4.B!B;VQD M.R!&3TY4+5-)6D4Z(#%P=#L@1D].5"U&04U)3%DZ(%1I;65S($YE=R!2;VUA M;B<@6QE/3-$)T)/4D1%4BU224=(5#H@;65D:75M(&YO;F4[ M(%!!1$1)3DF4],T0R/B8C,38P.SPO9F]N M=#X\+W`^/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M4DE'2%0Z(&UE9&EU M;2!N;VYE.R!0041$24Y'+5))1TA4.B`P:6X[($)/4D1%4BU43U`Z(&UE9&EU M;2!N;VYE.R!0041$24Y'+4Q%1E0Z(#!I;CL@0D%#2T=23U5.1#H@(V-C965F M9CL@4$%$1$E.1RU"3U143TTZ(#!I;CL@0D]21$52+4Q%1E0Z(&UE9&EU;2!N M;VYE.R!724142#H@,2XS)3L@4$%$1$E.1RU43U`Z(#!I;CL@0D]21$52+4)/ M5%1/33H@=VEN9&]W=&5X="`Q<'0@6QE/3-$)T)/4D1%4BU224=(5#H@ M;65D:75M(&YO;F4[(%!!1$1)3D6QE/3-$)TU!4D=)3CH@,&EN(#!I;B`P<'0[(%1%6%0M04Q)1TXZ M(')I9VAT)R!A;&EG;CTS1')I9VAT/CQF;VYT('-T>6QE/3-$)T9/3E0M4TE: M13H@,3!P=#L@1D].5"U&04U)3%DZ(%1I;65S($YE=R!2;VUA;B<@6QE/3-$)U!!1$1)3D6QE/3-$)T)/4D1%4BU224=(5#H@;65D:75M(&YO M;F4[(%!!1$1)3DF4],T0R/B0\+V9O M;G0^/"]P/CPO=&0^#0H\=&0@6QE/3-$)TU!4D=)3CH@,&EN(#!I;B`P<'0G M/CQF;VYT('-T>6QE/3-$)T9/3E0M4TE:13H@,7!T.R!&3TY4+49!34E,63H@ M5&EM97,@3F5W(%)O;6%N)R!S:7IE/3-$,CXF(S$V,#L\+V9O;G0^/"]P/CPO M=&0^/"]T6QE/3-$)TU!4D=)3CH@,&EN(#!I;B`P<'0G/CQF;VYT('-T>6QE/3-$ M)T9/3E0M4TE:13H@,7!T.R!&3TY4+49!34E,63H@5&EM97,@3F5W(%)O;6%N M)R!S:7IE/3-$,CXF(S$V,#L\+V9O;G0^/"]P/CPO=&0^#0H\=&0@'0@,BXR-7!T(&1O=6)L92<@=F%L:6=N/3-$8F]T M=&]M('=I9'1H/3-$,24^#0H\<"!S='EL93TS1"=-05)'24XZ(#!I;B`P:6X@ M,'!T)SX\9F]N="!S='EL93TS1"=&3TY4+5-)6D4Z(#$P<'0[($9/3E0M1D%- M24Q9.B!4:6UEF4],T0R/B0\+V9O;G0^/"]P/CPO M=&0^#0H\=&0@6QE/3-$ M)TU!4D=)3CH@,&EN(#!I;B`P<'0[(%1%6%0M04Q)1TXZ(')I9VAT)R!A;&EG M;CTS1')I9VAT/CQF;VYT('-T>6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@1D]. M5"U&04U)3%DZ(%1I;65S($YE=R!2;VUA;B<@6QE/3-$)U!!1$1)3D6QE/3-$)T)/4D1%4BU224=(5#H@;65D:75M(&YO;F4[(%!! M1$1)3D6QE/3-$)T)/4D1%4BU224=(5#H@ M;65D:75M(&YO;F4[(%!!1$1)3DF4] M,T0R/C(S-3PO9F]N=#X\+W`^/"]T9#X-"CQT9"!S='EL93TS1"=0041$24Y' M+5))1TA4.B`P:6X[(%!!1$1)3DF4],T0R/B8C,38P.SPO M9F]N=#X\+W`^/"]T9#X\+W1R/CPO=&%B;&4^#0H\<"!S='EL93TS1"=-05)' M24XZ(#!I;B`P:6X@,'!T)SX\9F]N="!S='EL93TS1"=&3TY4+5-)6D4Z(#$P M<'0[($9/3E0M1D%-24Q9.B!4:6UEF4],T0R/B8C M,38P.SPO9F]N=#X\+W`^/"]T9#X\+W1R/CPO=&%B;&4^#0H\'0O:F%V87-C3X-"B`@ M("`\=&%B;&4@8VQA'0^/'1A8FQE('-T>6QE/3-$)V9O;G0M3HG5&EM97,@3F5W(%)O;6%N)RQT:6UE6QE/3-$)TU! M4D=)3CH@,&EN(#!I;B`P<'0@,34N.#5P=#L@5$585"U)3D1%3E0Z("TQ-2XX M-7!T)SX\9F]N="!S='EL93TS1"=&3TY4+5-)6D4Z(#$P<'0[($9/3E0M1D%- M24Q9.B!4:6UEF4],T0R/B8C,38P.SPO9F]N=#X\ M+W`^#0H\<"!S='EL93TS1"=-05)'24XZ(#!I;B`P:6X@,'!T)SX\8CX\=3X\ M9F]N="!S='EL93TS1"=&3TY4+5=%24=(5#H@8F]L9#L@1D].5"U325I%.B`Q M,'!T.R!&3TY4+49!34E,63H@5&EM97,@3F5W(%)O;6%N)R!S:7IE/3-$,CY0 M87ER;VQL(%1A>&5S/"]F;VYT/CPO=3X\+V(^/"]P/@T*/'`@F4],T0R/E1E86U3=&%F9B!H87,@&5S('!R961O;6EN86YT;'D@9G)O M;2!I=',@9F]R;65R(%!%3R!O<&5R871I;VYS('=H:6-H('=E2!I;F-U2!!9&UI;FES=')A=&EO;BX@5&5A;5-T869F(&)E;&EE=F5S('1H870@869T M97(@=&AE($E24R!A<'!L:65S(&%L;"!T:&4@9G5N9',@8V]R65AF4],T0R M/B8C,38P.SPO9F]N=#X\+W`^#0H\<"!S='EL93TS1"=-05)'24XZ(#!I;B`P M:6X@,'!T.R!415A4+4E.1$5.5#H@,"XU:6XG/CQF;VYT('-T>6QE/3-$)T9/ M3E0M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ(%1I;65S($YE=R!2;VUA;B<@ M2!M87D@:6YC=7(@861D:71I;VYA;"!I;G1E7)O;&P@=&%X(&UA='1E2!S871I2!C;W5L9"!T:&5R969O2!A9F9E8W1E9"!B>2!T:&ES(&UA='1EF4],T0R/B8C,38P M.SPO9F]N=#X\+W`^#0H\<"!S='EL93TS1"=-05)'24XZ(#!I;B`P:6X@,'!T M)SX\8CX\=3X\9F]N="!S='EL93TS1"=&3TY4+5=%24=(5#H@8F]L9#L@1D]. M5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@5&EM97,@3F5W(%)O;6%N)R!S M:7IE/3-$,CY,96=A;"!06QE/3-$)TU!4D=)3CH@,&EN(#!I;B`P<'0G/CQF;VYT('-T>6QE M/3-$)T9/3E0M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ(%1I;65S($YE=R!2 M;VUA;B<@6QE/3-$ M)TU!4D=)3CH@,&EN(#!I;B`P<'0[(%1%6%0M24Y$14Y4.B`P+C5I;B<^/&9O M;G0@2!C;W5R M2P@96UP;&]Y;65N="UR96QA=&EO;G,@:7-S M=65S+"!W;W)K97)S)B,X,C$W.R!C;VUP96YS871I;VXL('1A>"P@<&%Y XML 15 R8.htm IDEA: XBRL DOCUMENT

DISCONTINUED OPERATION:

3 Months Ended

Dec. 31, 2011

DISCONTINUED OPERATION:

DISCONTINUED OPERATION:

(3) DISCONTINUED OPERATION:

Sale of TeamStaff Rx

Condensed Financial Information

Liabilities	December 31, 2011		September 30, 2011
Accrued expenses and other current liabilities	$	218	$	235
Total liabilities	$	218	$	235

- Definition

The entire disclosure for the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 205

-SubTopic 20

-Section 45

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e957-107759

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 360

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2941-110230

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 205

-SubTopic 20

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1436-107760

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 205

-SubTopic 20

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 360

-SubTopic 10

-Section 45

-Paragraph 5

-URI http://asc.fasb.org/extlink&oid=6390789&loc=d3e2443-110228

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 144

-Paragraph 43-48

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 205

-SubTopic 20

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1474-107760

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 205

-SubTopic 20

-Section 45

-Paragraph 5

-URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e1020-107759

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 205

-SubTopic 20

-Section 50

-Paragraph 5

-URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1510-107760

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 205

-SubTopic 20

-Section 45

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e1012-107759

+ Details

XML 16 R2.htm IDEA: XBRL DOCUMENT

CONSOLIDATED BALANCE SHEETS (USD $) In Thousands, unless otherwise specified	Dec. 31, 2011	Sep. 30, 2011
CURRENT ASSETS:
Cash and cash equivalents	$ 477	$ 763
Accounts receivable, net of allowance for doubtful accounts of $0 as of December 31, 2011 September 30, 2011	12,423	11,112
Prepaid workers' compensation	513	513
Other current assets	184	184
Total current assets	13,597	12,572
EQUIPMENT AND IMPROVEMENTS :
Furniture and equipment	177	177
Computer equipment	106	102
Computer software	301	260
Leasehold improvements	10	21
Equipment and improvements, gross	594	560
Less accumulated depreciation and amortization	(369)	(346)
Equipment and improvements, net	225	214
GOODWILL	8,595	8,595
OTHER ASSETS
Deferred financing costs, net	21	26
Other assets	515	510
Total other assets	536	536
TOTAL ASSETS	22,953	21,917
CURRENT LIABILITIES:
Bank loan payable	1,832	740
Notes payable	711	711
Current portion of capital lease obligations	6	8
Accrued payroll	10,269	10,318
Accounts payable	2,425	1,983
Accrued expenses and other current liabilities	1,822	2,134
Liabilities from discontinued operation	218	235
Total current liabilities	17,283	16,129
LONG TERM LIABILITIES
Convertible debenture, net	82	46
Financial instruments, at fair value	238	182
Other long term liability	15	6
Total long term liabilities	335	234
Total liabilities	17,618	16,363
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS' EQUITY:
Preferred stock, $.10 par value; authorized 5,000 shares; none issued and outstanding
Common stock, $.001 par value; authorized 40,000 shares; issued 6,077 at December 31, 2011 and 6,023 at September 30, 2011, outstanding 6,075 at December 31, 2011 and 6,021 at September 30, 2011	6	6
Additional paid-in capital	71,158	70,988
Accumulated deficit	(65,805)	(65,416)
Treasury stock, 2 shares at cost at December 31, 2011 and September 30, 2011	(24)	(24)
Total shareholders' equity	5,335	5,554
TOTAL LIABILITIES AND SHAREHOLDERS ' EQUITY	$ 22,953	$ 21,917

XML 17 R6.htm IDEA: XBRL DOCUMENT

ORGANIZATION AND BUSINESS:

3 Months Ended

Dec. 31, 2011

ORGANIZATION AND BUSINESS:

ORGANIZATION AND BUSINESS:

(1) ORGANIZATION AND BUSINESS:

Corporate History

Teamstaff’s primary operations are located in Loganville, Georgia and its principal executive offices are located at 1776 Peachtree Street, Atlanta, Georgia 30309.

XML 18 Show.js IDEA: XBRL DOCUMENT /** * Rivet Software Inc. * * @copyright Copyright (c) 2006-2011 Rivet Software, Inc. All rights reserved. * Version 2.1.0.1 * */ var moreDialog = null; var Show = { Default:'raw', more:function( obj ){ var bClosed = false; if( moreDialog != null ) { try { bClosed = moreDialog.closed; } catch(e) { //Per article at http://support.microsoft.com/kb/244375 there is a problem with the WebBrowser control // that somtimes causes it to throw when checking the closed property on a child window that has been //closed. So if the exception occurs we assume the window is closed and move on from there. bClosed = true; } if( !bClosed ){ moreDialog.close(); } } obj = obj.parentNode.getElementsByTagName( 'pre' )[0]; var hasHtmlTag = false; var objHtml = ''; var raw = ''; //Check for raw HTML var nodes = obj.getElementsByTagName( '*' ); if( nodes.length ){ objHtml = obj.innerHTML; }else{ if( obj.innerText ){ raw = obj.innerText; }else{ raw = obj.textContent; } var matches = raw.match( /<\/?[a-zA-Z]{1}\w*[^>]*>/g ); if( matches && matches.length ){ objHtml = raw; //If there is an html node it will be 1st or 2nd, // but we can check a little further. var n = Math.min( 5, matches.length ); for( var i = 0; i < n; i++ ){ var el = matches[ i ].toString().toLowerCase(); if( el.indexOf( '= 0 ){ hasHtmlTag = true; break; } } } } if( objHtml.length ){ var html = ''; if( hasHtmlTag ){ html = objHtml; }else{ html = ''+ "\n"+''+ "\n"+' Report Preview Details'+ "\n"+' '+ "\n"+''+ "\n"+''+ objHtml + "\n"+''+ "\n"+''; } moreDialog = window.open("","More","width=700,height=650,status=0,resizable=yes,menubar=no,toolbar=no,scrollbars=yes"); moreDialog.document.write( html ); moreDialog.document.close(); if( !hasHtmlTag ){ moreDialog.document.body.style.margin = '0.5em'; } } else { //default view logic var lines = raw.split( "\n" ); var longest = 0; if( lines.length > 0 ){ for( var p = 0; p < lines.length; p++ ){ longest = Math.max( longest, lines[p].length ); } } //Decide on the default view this.Default = longest < 120 ? 'raw' : 'formatted'; //Build formatted view var text = raw.split( "\n\n" ) >= raw.split( "\r\n\r\n" ) ? raw.split( "\n\n" ) : raw.split( "\r\n\r\n" ) ; var formatted = ''; if( text.length > 0 ){ if( text.length == 1 ){ text = raw.split( "\n" ) >= raw.split( "\r\n" ) ? raw.split( "\n" ) : raw.split( "\r\n" ) ; formatted = "

"+ text.join( "

\n" ) +"

"; }else{ for( var p = 0; p < text.length; p++ ){ formatted += "

" + text[p] + "

\n"; } } }else{ formatted = '

' + raw + '

'; } html = ''+ "\n"+''+ "\n"+' Report Preview Details'+ "\n"+' '+ "\n"+''+ "\n"+''+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+'

'+ "\n"+' formatted: '+ ( this.Default == 'raw' ? 'as Filed' : 'with Text Wrapped' ) +''+ "\n"+'

'+ "\n"+' '+ "\n"+'

'+ "\n"+'

'+raw+'

'+ "\n"+'

'+ "\n"+''+ "\n"+''; moreDialog = window.open("","More","width=700,height=650,status=0,resizable=yes,menubar=no,toolbar=no,scrollbars=yes"); moreDialog.document.write(html); moreDialog.document.close(); this.toggle( moreDialog ); } moreDialog.document.title = 'Report Preview Details'; }, toggle:function( win, domLink ){ var domId = this.Default; var doc = win.document; var domEl = doc.getElementById( domId ); domEl.style.display = 'block'; this.Default = domId == 'raw' ? 'formatted' : 'raw'; if( domLink ){ domLink.innerHTML = this.Default == 'raw' ? 'with Text Wrapped' : 'as Filed'; } var domElOpposite = doc.getElementById( this.Default ); domElOpposite.style.display = 'none'; }, LastAR : null, showAR : function ( link, id, win ){ if( Show.LastAR ){ Show.hideAR(); } var ref = link; do { ref = ref.nextSibling; } while (ref && ref.nodeName != 'TABLE'); if (!ref || ref.nodeName != 'TABLE') { var tmp = win ? win.document.getElementById(id) : document.getElementById(id); if( tmp ){ ref = tmp.cloneNode(true); ref.id = ''; link.parentNode.appendChild(ref); } } if( ref ){ ref.style.display = 'block'; Show.LastAR = ref; } }, toggleNext : function( link ){ var ref = link; do{ ref = ref.nextSibling; }while( ref.nodeName != 'DIV' ); if( ref.style && ref.style.display && ref.style.display == 'none' ){ ref.style.display = 'block'; if( link.textContent ){ link.textContent = link.textContent.replace( '+', '-' ); }else{ link.innerText = link.innerText.replace( '+', '-' ); } }else{ ref.style.display = 'none'; if( link.textContent ){ link.textContent = link.textContent.replace( '-', '+' ); }else{ link.innerText = link.innerText.replace( '-', '+' ); } } }, hideAR : function(){ Show.LastAR.style.display = 'none'; } } XML 19 R7.htm IDEA: XBRL DOCUMENT

LIQUIDITY AND SIGNIFICANT ACCOUNTING POLICIES:

3 Months Ended

Dec. 31, 2011

LIQUIDITY AND SIGNIFICANT ACCOUNTING POLICIES:

LIQUIDITY AND SIGNIFICANT ACCOUNTING POLICIES:

(2) LIQUIDITY AND SIGNIFICANT ACCOUNTING POLICIES:

Liquidity

In an effort to improve the Company’s cash flows and financial position, in fiscal 2011 the Company completed measures to enhance its liquidity by approximately $1,000,000 as a result of increasing the maximum availability of its credit facility and receiving funding of and/or commitments for additional equity and/or debt financing. In that regard, our largest shareholder, Wynnefield Capital, Inc., and certain of our directors and executive officers collectively provided a total of $500,000 of additional capital to the Company. As described in Note 7, $150,000 of such capital was provided through equity investments on March 31, 2011 and $350,000 of such capital was provided in July 2011 by Wynnefield Capital through the sale of convertible debentures. In addition, as described in Note 6, on February 9, 2011, the Company entered into an amendment of its Loan and Security Agreement with Presidential Financial Corporation, pursuant to which they agreed to increase the maximum availability under the Loan and Security Agreement by an additional $500,000 and provide an unbilled receivable facility within the limits of the Loan and Security Agreement. Following this increase, the maximum availability under this loan facility is $3,000,000; subject to eligible accounts receivable. At December 31, 2011, the amount available was $438,000. In addition, as described in greater detail below, the parties agreed to amend certain other provisions of the Loan Agreement, including an extension of the term of the Loan Agreement for an additional year and the Lender agreed not to seek to terminate the Loan Agreement without cause until after February 29, 2012, which date has subsequently been amended to December 31, 2012. In addition, pursuant to its current credit facility, the financial institution also has the ability to terminate the Company’s line of credit immediately upon the occurrence of a defined event of default, including among others, a material adverse change in the Company’s circumstances or if the financial institution deems itself to be insecure in the ability of the Company to repay its obligations or, as to the sufficiency of the collateral. At present, the Company has not experienced and the financial institution has not declared an event of default.

Basis of Presentation

Revenue Recognition

Goodwill

Intangible Assets

Income Taxes

Stock-Based Compensation

Stock Options, Warrants and Restricted Stock

The stock option activity for the three months ended December 31, 2011 is as follows:

	Number of Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value
Options outstanding, September 30, 2011	1,537,500		$	1.19	9.3	$	743,785
Granted	25,000		$	1.88
Cancelled	(212,500	)	$	1.81
Exercised	—		—
Options outstanding, December 31, 2011	1,350,000		$	1.12	8.9	$	1,043,875

At December 31, 2011, there were 52,500 shares of unvested restricted stock outstanding. As of December 31, 2011, there are $150,000 remaining costs related to non-vested restricted stock awards.

Changes in Shareholders’ Equity

Fair Value of Financial Instruments

Loss Per Share

ZIP 20 0001104659-12-009772-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001104659-12-009772-xbrl.zip M4$L#!!0````(`(2$3D":_]6T:F4``'UX`@`1`!P`='-T9BTR,#$Q,3(S,2YX M;6Q55`D``\C3.D_(TSI/=7@+``$$)0X```0Y`0``[#QK=]LVLM_WG/T/N+Y) MUSY'DB4YCF,G[1XGME-W4R>-G':[WR`2DM#RH05(V;J__LX#($&*[:M3`(#S&#>,^"3O]^FB5@I8W6>?;TS&@QWA,JB/-;9_.N=-Y/^Z>39Y>7. MW[_YZU^>_$^_+YZK3!E9J%A,U^*B_$47MA2760$`"CE7XI\_R2P63X>CAT/1 M[^.LVZE)]`G^6\!2F3TI;#'[>F=1%,N3_?V;FYM!H60*LV>S092G^^/A:#0: M'XQVW/!$9[\VAB.H06[F,')XL(^OI](J/[RT_;F4RVK&3-HIC78O"'Y_..K7 M*R#`6%-&%\`9-'1ZCX^/C?7J[`T6() MJ]=J)NC52;%>JJ]WK$Z7"6Z9GBV,@D/%H^W[`QS/:[/+O^Q\\T0_G?TZ/#P M\.C)?GNR7VJ_8RVWTE(9G%T3'$&7/\-T7(T!')Z*/6[UB25Q<&4,9"_ M7C@.)OBGP=+^D:/7-A)>,@DG+[\((C*3%TR/X;@_/*Z`NS(V^1/$:OK]X#7]7\?HB2-A@J`8U/JIP?7G4&/Y^U!A^>;3X:*JF MS#03XLWDK$6&5$E;&O6-#;"-%><1.H M?QO@O4D]\"-/SHGG7JNYMH4!QKF2J2):7LLYN):.2UZC'U@Y=]?GI]]/KD\O M+L3EU;,G^]O`M!=Y!OQM9'*9Q>KV'VKM5QEO6244G*U`ZC7.\@CHGA77X,=Z MT`=;0(/0_,!`PUF;L%Z1V)RSZ?%`'VP!&FKIK4#J-4[A78SO+Q(Y][`/M\"> MR<0J!MN85X-[5AJ##[6-9/*SDJ:UZX=;(/>]^K@+R,9)\KC7:IF;`F+*22&+ MTOJECK8L]3,R\]N`M)>ZT(DRSV`/\]Q4+/-HRPJ35"8P7%0PQ;,\738I\NA75E4ORP(5*D;.?O7C'1&K2,-:%FS&U45S,[7_+E#2Z)G7 M>@^'1P^.#PX:5+ACP4V&K$_F`IY4%`>KM94GQTUN;$'8M@0S;7.1;>K@AU'7 M$@$$7L2%ZB=G:EJ<9O$SN=2%3%Z`6E/V#*8D.>HW>PWPGR9`CFK=;0KBJZ1X M7,AIHH0MU@F8X!F,ZEO]?^ID-%P6CP7]/9.I3M8G?[O6J;+B2MV(UWDJL[_U M"GS0L[#-V>.=K^;%X[_^A2":X'=<_U[Z5;X_??W\\NI$#'7&_RP+FOZ53)>/ M_W?T9)[#;_8=CL/MS;1&/Z&S9P`/MW*XQ:]!+OLE+Y83@WL3H[?WI]LKE: MN;GN;SZRP^:1?3Y,]BFYZ$4N,W$A(YV`PKWCE+]@F6T=_'!PJ+./O6:$P`(Q.G< M*(6F0NP6"R48XJ/Q>,A'5;VN7HP>[XD;72S$*[`0'#_)1%R`RYM%^.M9;L#B M2UQ^$R3X2\J$H`;B#3X2.+"Y8(^?T0PA\6DL`(>ER=&-!ER*FUSLCO=J&JS! MDHK$8V@]AC/';3B[21R-(P$V`)^C?R;3O`1"Y#-1+G'TO='@L`8/MBN!:3UX M":CAYF:E@?_`YI5)+2]:3G]148&3<0#8RECS6@!T$\>!N,S$5;Y2Z509?X"; M:$_7`D(.!H(;]FZG7Z8)%)_J+#)HS>EU*F]U6J8>/;F2.B%;75:DKV@T,WG: MC3<19-SU`A&'_URHJ2FE"9B2>7+4$S>JS8B>=&_#95D:6TI^?;/0T:*;*SRX M"N^\-#7>C#`C6&YA-X=Y)X*(^<%@V(UYR),9@(=U$MB449'2*R)S15P4&\VL MD^A4%UNYXC1#.@&];"&P&`0KJ%0#*C!^?%]H*Y9R3;`!'(Q:(L\13G> M)KP_.KP_$->((>*D&]N0M5!6Z"&81*L,.0@B!@31$%*O+$9'CT4D[:)"H>=_ M002PS*W&)XDJL%"&0(`/0/0(O,Y6L!*SD\F7RA3KGH@6$L8F0,@EBAXP$$0( ML%'XJ6_Q!PNT^G>IEZR.,)UCR*NVO6Z8Z"?>-7WX(RZCFE-F.>BJ'".@7>#UI*1@J)KA6`!V6AHZE66> MZ$@[7*)$:M13SC M6;6A#YBQLIR-*Y1K_ M]'H1<#08,;L_FL!@[^I6F4A;DF343S$$@W"D0,G'!&Y7MPF?:-HR>01L\H"Y M)6)#++=A`/&X`P5Q`[3+#1`ZH_TC%TJRIZ3J'@0J%QRG!0.5,Q@@YGJ%O*]F ML\#@;MH@-$"UE:F476)S0+9`Q(EOJS4[6`^H-!JW=P*00*4"?5%7(.=T^F,' M@\_:C?Q"O-U+;RR4FK@<)D0?P;552[S0( M^@WQ+Z5M[K&R]6!SS5RU7,^[0A*`-U7M4]B5>X(00W+L3@-]U+`*=!K!8721 MF`^(]\G,TZ'K!24PV;:0AF//(@$6J'0B;.A#5MOTR]Q:K"&;/B"<_!EL"D.% M&LN#$?O8M!.,'TBC'@[&]RFVD#&KWW982+H+?$@1@=\![H!S1+PAGRGO_MPN M50;FP"B=3H%CZ%@P`AT*0RK41>X#WL8F(9 M)6GT$LJ*F0T82[0;A?L`+HA+)K?W?+TND$"?6)+#HB1`H/T(4.])CONS6YR) MO,[M=A&[EM#W)#L].1P M@X-'Z)`S%AY$D"J79'OOP(&@C'J/#L8$Y[,V!5^(Q;K>Y#GT=S6&%6VO*0)] M"1#,>M-W0M%$502!AXZ<&Y6%BCAP;VWH7*MLCF(&"'L!QU*@E0P$F#%%X6"A M3R4%3;V0N4@G5UN_4>1'9CGZ3[!EX"[3_#B!7 M`42K,-(U#&JFD$`):EX('F'H"N(%^2MO'D\"5%C>P^%UT(DJN,?8S69PZF13 MC+ACIX[LX7C.72TDQ][P?Y/:?@*L`R-!:VO<]@IL&VC[TA#`6$V+]\!YU2`C MFAN./A+ICH9+XAE&KL;M)\:JM9ZRG7I,)G[5/`XPO\"7J%X+/&(8`;X,6!VK M?."*R1^4MB#/P.>O2"'>.QRRPFP8R`XS48ELTW@"=5.I23C1_H$CBEDF'_(# M"X/$@!E?4"@-CH)"$P4*=N@R)SDQKP&UCKL9C?MLLHCD`W'!J:Q:TEPBL4O: M0I<,;!I%-5Y;H!E'#Q)8B:P`#($3\,P39HV8\*')T!F>M(KQ'-FN.`<*N5&W.NKB/!R+D[3H#4JEBMB%!`'8CL)43O\#Y) M\ANDSD8>$JC20\PIH[=T[-2@4DNA4A0;12JA5F]VEI4[G2J/MV')^21\IF%S MA^R5J1Y.K;0[9ASGF"Q#/:\,9N@A_E$HK"`S&1N);18ETB8J4^Z=MJR"0@84 M*(@6T58)NOD<3WF`WAPYGO5\2JD?U`5$+8B(YI2Y8?#2^GC$EJ"H(JVRJ()0 M*\D_?92/L,U32[;34_?=`L"-S/N-U"[DZ6*@+,_Z=V6)MN?[.*F?0;R,;U-G MOV#B8?X#&U`X'K%W<1IR2=ES`M;>V&4/JZ&N05MV5P0I_7(+:L,JL/,8A<;VH-> M=:#UGMC8`(>H>D<<\+FHT"XP@L;&SKBD='H8>F+^.8O(G:EHO$*=1*RM@,L#9O%2S&+AO4[MFXHP/D M=3X'V8+MS>>;=4I4B$3Y.P@PO.U\38-22PV=^L*LA"*Y`]*W&```T,J;Z?`W?:(LG@&&F4Z:4 M.;'L\-Q%DG<\0XV%L4R%3N7PD--;[CPH\:V,HT5%`G>.KE9=;R-P`'S`5*MX MHO-`O&K5-EH]196OA06B>V-'"]P*]A>X.6X'/?:'F$7($6UT#`$5#MQ\OB)` MG$9]Q"#\V#D+?V^C84^L9()PP5.Z=W1\2`D"UXZC#;_TQ\+`8&"WU#(_52Y< MTPE=8BA:-.A*+BAEH=KH`+3>T?B!BQ[?'REGL&]`%8F%2CQ3ITQ(?YYU"%T[ M#MCLH%8Z+RTPZ3*1$3D-L.`2TTQ<7<(1%!TLE,9RA96):DE^A39-PL($C.$R MO_3%#]!=/O_!QPW`&JT)3!KXA]]]`!DP<(BP/:(1^%C?^=,3<6DXD%!M_U[P M%2%:"^)?$E!60%R2P(`KKNI_#?;.E*9S8VI09I]/OV":.,RHT@_22B@='+3X MM\*IB6UP.N'!>D3P$`^Z$=F2R:K6&8B?-H^$4\%OVY23S'8U,R#))A6MOG55 M(IEE&,%92C7/WH_$5$+KHN?X,*3GQZ!.(T]9$\+%BG'M%MN6]JKC2TQ*5FU" M7%;E"J>J#Y(+SI2+(IE!RU%[V1\@`V#6:NA;CTC7%*)WNQ8D$$L@PI_"<3*7`N7(2SO';G*W& M<8`5\AOF_V80AKJ?-7U!K3'..2"9T1GV'6=4VU]B>592:V9J32_JB+L M1"53NE"N/-9,&E!K$4D?:8NZ#!4:M(Q4!^'=I1YP/LO\>FMAI-(93-96VV:HZM.J6-^+W]*25/E\]XY&5'1V?=JX2)4I%;NN$;9.#<0-L6[V M(E7;W0MXBJL0Z$V$+98^'NZD#):'@3P%MCW/<.Q,+.,H5-P@HTK%V0Q@D/>UJ?M"NC9I+HA[)A&_W1'Z+U:B_CACS4%*0'K7'AG<@,@A@)E+#`R7 M&!MF[EH"]W-9;IW$V@@=&TATIH+VG(+:$+''QTLI7V2KTH%O/^J/Z?Q^\C.G M7WS1FW^:^B<5%&C;3_;?]_IZ\]+[I&H@.:<6BLU;[ML^*_'G+?<__BWWX[TF M0E2RFKQY.CG_X0WL2IS_"/^>G+3*6;_M$O.7=V7\4^C>[\$5FK/>J[W.NOO+ M-T!Y^XR*,7;=5!`V=?>!H!GE]$?@=U%WAENB"LA"SRM6W,U%+A*X,&"$-_=! M05<>.>W.WI5O\X@KI=2U77;7MNU9UEO^XVKRK3JYJ;I?FKD$RTO']*QN(LFS MI]@[^7+V*K"Y3UT?ZIFRD='4E0>VPMVU`_?UE;L:N:G^MWWYYT_U_XG5_^&G M5_^C3_>1DW?]]>D^AO+R]?/3J\M_G5Y?OKP2IU=GXNF;R>75^63RW_Z%E/]H MIT?5!L%!PD9O7I"NWV@-P-O#+E<9#&LE)'`07^ZF]O&9(@N&320-X#>J%\X( MWI2V#2IXF9>-#WY0GSIE0?O^QIBK8]'EO@6$W\4B0J,7JP2+$DQZ M+:D3O/9F\)1O%CF\ZW.1*K@4TVC[V>"6@/2=O9!X1-R24ZWK;HE=^\^$B^5F/3$BX9,N*[_#5#R4_&\;;G$NZ98K,-O9.:E%12B+@^A4F3[K@?U(0YQY/KGU_`$TRDZ>A]<*F[NK\% M-92;CJ^ZZ0_W%3]#RO\GG4&\QX53OL,+7'CKLOK66J_]*16\5N%.AI+-H^.' MQVCE)5950'LF+%UQ\6OQ&!EJ!N!G6V"

B`[_4Q=`UI5@WT"]P(O!0Y#RQ724RX7 MO31*+7U(TJMVN!JX):OE(1KC[1H"1.P0[@]=0](ZO0HG1>4BA5,>[!F5RDFU M;)7^2[#2B=.%:>H!PBHDC:SY/)#U:278(#6!"D&*8!EZ\2917@: M-@IO!UZ`C>ZYH$K^$\Y6,N#P/*150,7*4KB&K:+I0EFH7&9(B7NJ/@&MV]D" M3']?:I?1%V?QY29Y!Z24=ZTDV'85;O)P=I8=*])ZG]TX4Z%G'U\M[^/5&1=1 MH%.3_%\Z:+\B>`""!LP<_G6_O@(#^_8^K/FUE9W0<&;9OSF;]]W\+^=^^Z\Y M7_YKP;/_=W8$P+[![)$S#7'84'G2\OYYV:DKFOH`)M)M\25(0F1#J_[B.*>Z M4O22=.*SI`FB=W&1I2,P0F`HR6\DYR?S[&L)8ZA@6>B^!MQC_^!@W[O`[$C$$A-$L99W7,`15@3F MU=UVMWWT'5\0/NG-'U\R(K?>3U\BL!3!PIC"$USZO^GV\.KL\]>S3V.3D_/?OEZ???WL M79Q_.3LY._WA+Q5?I$!?Z[>-#OXK'-UG0=!9#.EHE[<&"AJ,`+D&G+5(>$X# MQE:OU&EW=P_,:VW(^8!J2\MQR4FGS6_8[^T>SKQBU_LD5\(KY9%6T,94&BNB MQ^E+1`(01PFQHQI-W)6IO=NI[Q5\LS?S315%LWIA%G`]+0IBB@P()A[O@?$? M&/JY`Q.>=+%TK>C@;>J"2@KI8N M(D2$:8MQH<4E/&@#$GZGP:G'2YXR9Z1&+-@Q=F4%GJ=,J$(2'@GC$('AL2H: M2RMUZ"DO!UB*.BJI+C7M%RI=7R(GM.80QT^#Y&FQ`T;\+G,"!P^A?RV-S''6H]A0$(O09<'-I_*#L8GLU(*PJ;7&6\LD"1*O`.T1XVI*!8A9+RI^//2$ MM3#G^B^.CO)*E".!*!JJ4!$*M#!P'6.Y*51WP[54&Q+HDA6NJ22DQ"%D_'99 M>XQZ-_P[@86.84=S\B/AP9MU*^M5?DBK6(8#T?'.I*((P0RR88L<]AC!B//" MCK:UO-^G20(Z$XO8)7=\]IK%0J@0WW]HHMF$C.QZ;EE.^'1*4YGB;%7O8G-G M8&=-K]1)($KC1-W&'.,=,KHP?78IL;K0R'G0@NGIZ?=1\9!Z$]7]*P%42HE& MQ#0@HJ#3?@VRP6U-%1%IY.XR[X]FL._Q>5A+L\/L9+^JN`JX2GJ9(J@Y%L)?7D1%R254F-5X*X6C%LB+.P1U!V_%1(O&8_@O'XR: M`DP2_J7^,7#162UP5F>>#3SK1H!9+5S6^B%P8%H9_..18*W09&MIL%;@^(GY.(P M'6KVN^J\P#HBN04X'C\CW8>ETO,9+KL:SXH+G5<^XS$25:A]S!^ MI#EX"$'^/30_>$^,6-#!PF2J.?Z@E3,)XQM/M55H6LC"(DN54TO,,W@_"V\? M%0>%0NP^TAMI\`ZE= M[8=2;3K4<&COX,BH6EMJV^.!3.\2](?Y0+/O8?AB&$K.\@N,,I_KE;]WG9N. MQMZ`!15'@RI!"W(N,1)(^%XP?`0 M=RK_R3FG=-E&A6PY['@N%_=A?*=#*QIQQ((2:BCWLAAZ1!1#QI:3O48>"$X< M'3UTSA:!PM$([)E7,TM*-PL%=@,+WV>/'"$[68Y=(J```QN+F.2*\ADO,@GQ M6[P=PY%P8QOV?5FA%P"]1`:.L*H>"G<$R2H0>`36]RTKDTB1G!&D"<,N(WV" M`DG1LTY7LK#OQ.',;.)(Y@+3@`/,Z$G&/LX\*$`\JKF/Q,7#G!+W-*[@A^<1 M17?$,>4.3P@J&=-O,[(=,>L$30.U]I#FT9I:X>:065(3A&!K039NG!5U?=RJ MC0NPO\ZYL=;(8Q1!8`=$$5&J5ZCVM2$9G%DX\ER"-F7%.5?.835U"V='(E0J M#8O_N\/)<+7>/)AM,`")[$K-#F&^Q\6D4`&S(!+R!Y0+)8/3`!>-:\S0SW); M9/H=ZD5$<:.L^`8TK6WT41YD.$#9N2K]ZDDGWLUC,,H M1DCDK:&R`3'EXC>>NJ8E##BM'`&PB\AK!,4!BY!1E%2-@T:_YUH`NQZHLHXY MIS^+[B2C7^M=^_RQ&C+%/'=!AL").K42Q+H/Z,26(_GCOXYWO7-#!6RE@-5% M,`32$,N,T^Q/,7U`)%AQN#K3$J&=/H"ZP7S("T6.4@EB2+M:E)D8(D72Q-Z3 M[%*P7##JP5W5BYR$$+:P0'NO"-^HDUNPIL%L.VR6/BW5`L(BR9L_AK*ZS:?:%JJN!V]1>CL<6&N]E>(,7/EP()XL3 ME3,CW=CP-Y9G!JNM=%"*3?%;E7J`;CZ4[6DBF'4(7MB!*+=ZH-$2S7,\.C"> MX;T<"L[R,'N!!&'J7#)6(@N1ME69USUD_7.WLSBP%/O@`$--#F^WK?91Y"`- MSN+05E%.^9`94/)[=3\/J<[%M4]EN/3FT/VL`7US\'KQE#`J`B=MY:;=ON$N M:QIE#W-70L^AXNZU'SNVAD@:[5-CB'*(@!=FX8'4NKUI9J-=_.:,`Q M<^Y;1IW8W3$1>+$>D\%6`,=<&X6#628*J8H+6TNF-R?,(10"#(_EI1NZ+ MG`HZBPD,CS$\3D)):W^A8I3`SXQJH+U,42+MP:C+B5=M$SQ)'!&"1<>4FQZ@E'.K,H"H"/A M1*8SRYEKA2"R4I."$_\@A67T>:T,AROM.#!=PH-$>D_PRI/2BITJHJO3$[MX M:-<[D0B0Q6##6B=-"R0SL(!F,$8`/Y%*,.XV'1W@7J.ZNL+;./\.$G00+@,*2:%5Y_04\MI:._\I\+A#_#)F*O&9J-L M%GT`W=]5-X\]AEDXHHR3EN;0G$2)6',F&--B8&!B@>8.FWC0.RH+9+LH36(Z M='B58@P3S`5.4S&/4C"9\^()8SUGXQ3)U\GV)>,0UB!\]E[H`0@^'4O+Q>Y0 MQ[8*+JD^"N`BG_?-<1+K>!_1J8ID1.XKM,&C.AK1GAL2`<==:**^KB"$7$TD M8X\]2X^_G'V&+P9TL?V&"^1^>2-__AAGP&J1:%V+HX+8I5Q2N:25EHHF M&#N7RWT81QZQ2&->'*IH3%C,9--;#+R6M@SQ,B)190,#.[?=*'R&IA?"`'7Y M8=Z1A59DG>U$8M255Y&YE2B&CT*F_)C4(L1$$4YL2/[$L'9Z0N'^8( M$I"J%JO5*NW7UXZKS9N8H6FN$D?PO79UL'B=.$]J=VK5_PU51[PN^_12O,%+ M!C[]?JW3ERL>U`ZW"3'26I_8]6:F>(P"6`)GKU"4+`B1U/OMRBY9U\%.%44( M*(X0LMNG8P0M\*&Y]M4HN%'T$`YW0/TP[@SHJ9*XFREDSRZWR3!34:LKO#*9 M>E>*M1'.="3QR`L[LO:9#4M=O^<=RX]$0]B&\.[6?@\M>U8PE^I+YEN@4@H!TL?HC),TQNWQH*29W3Q_ M9L5Y!\<8(+^[WKGM+R*Z82UO+N,3+U*F,2*YW.@A=M**)[)(RM= MH#LRPEKZJU0C>U^]P(O@A,/(E_6J+!3P)?9$;6]'PTO;E_M&0Z`9[P3VP!). M\)8U,A07=$?.?P3J7A(1.,A(L8F4&*0CEQM(Z1L?M6,L58!74XX'3@]X;SDN MO9`HVR7?*;$W&`<]<\K2,-J8@G]JCQM+0=#=#-:_0ARB+(O*XX2Y+DHHEQ5' M5X:2Q$5)&N@'8SV#M@ST%4_FS*Y#'L!P=>^&=AH+)VQHC'8+;W[*L<3MU=U& MQ+Q4]V06>CKEQ@1N9@P>/)UV^U#QG_!YIC/-:J[N".?7PFF7A>Q7UI6Y+-1( M7>3RQ0.IK*'L8+HYTBUN"[)^"2J"4\ZI03V0M-:[*ZYUHZ1O">") M8.4FI&*QZW;@61UN4I=$"?,,+]9RX`Y1OV<1O76$NULJV9'W.<24[C38'C(80NF-WT9SY`U<@@6-)-F.MB'R)[H*(7NI)022!2 MQ*,PSK:;?@-B?C2TA\M<*[4/6W5GX]!PVJG_JS/[4T$)^% MF'IGQ:0<*[(AY5RRY.?9FIY>[3;;:@-)`8?UU\G MS:-V&6;4:]0^V]E76X_OX+&1PYH"1-[B]>U+^'BF&T%NB@]D4XGEOLXX6IPO ME"$?C3D#,TF80=#PT-D9JVX)".4.Y%HU,V@LJ4)710M[HWW)JK6ABJI(Q9RA M%M7],V_%T>&*K^]?B[Q(7?/G-!VB-M^6-6^F0+%R"V3==%FW/Y@`-0S`.W$P M_327V!C=J/^!#2ES4_$]*"8H5,1W$8C"<'S\6SZ();&2/*@HXSSH3!<6R-B/&UL?44N@-T` M:<^EN*/DE!Y5.D1DIM@WPWA%9\C\5`H-[4K99GI8K)%03&&FGGM29C!D*JD- M$W0TF1@ZG\;MAN\M^BVTM/J&#",DZ,BQW*X$F#O/\2`[@E#'4>U"X%(\Q'FM MY(Y21+BDRS@3=W;H.)P+&?R3,LST>,RC1E/\'-8X\7))S!CB>71/1[J`[,P] M;'X-_B`$Q;P<3W06,0J@"4-@'Y3#*=OH9##:XPQ#V%?F]7V(#D&HLV_ML+O] MX%`5)\7N`*MK!17^4B,I:>&\2\T9:UXWTY[`I]N-['JGSOJ8>83Z9URE_M1. MP194:2Z]I2L(.1WYJ+5NU#3MHVHBI5SNO+\RD\$+S)B/>J.ZB M%28;!D5`0U_V06G)J$4F\#53V:)*'\"2`".IEF:W+B,(C-$D'4<#Y(S;F;K6 M93(9X]:N+G.3@U7=VIP`S]'@1;43YEE[P*-:IK_"F349JT$U78SK%.R'K658 M?W>]:Z'_&%C_"HOD@FJKELZW(`8B/M,QC5XA8]QG#&H^LGMJMWQ&)ZRU&IPG M\)(.!T"/41^V]SBT\@5F!@U7B(P2O(`S;\%+V9]U173.G5#TZ:D]L2\9K]35 M(K[NW(P>W>0:W\S,(F8R%UG4+PN5DC=[\+E6P@][N_^6H*:2L M`_=*!/V#D#,R%CV8ORK702Q2#"2C<'-]!K0*YCH-Y[7XU'[/CB_5H!^[B2T* M!IE.?KD`5.9E%0/9`;T6/&&CZ#1GT*K0RK;Y7HM2C*GR->2HIDK.=0%(-P\( M3$/EBI>Y;LET@I8@6F>D9L:HE1HY'%?'J=$&Q,$0@)ANY";-F7YTE[7@T=9#Y-M*MF3&,W7;J M3GHRCG#ODG&Q@\9%I9DHM]XS-/'G48J+!5/@LX+9IZPIJ0W-YZG'@AF;9]O"15Q'#!0U-B(/,6 M:;)4)_HSC#!!B8[/?EC0:/J&VNY94$0`96!1<"PB.9 MJHL2ITP%#^BN"3XV!5]&'I;;KB?$RR7P[':)Y6JFTW0Q2;G0IG=.[J*D?7KY M;2A9%)*@4262Y4_)XHBC/T-*60X2!NM1N>[4J@5+R"D>DK%]@_7H5/''W'VD MGB7043=A]`9F?2+L"^.L!HCDQ)APHX5R<9Y8IO)A:3AG6F.9Y5+&R+T":*8& MM@@HT%`KK8HF1)1I7M_K6?@1O[>[[ZD;K5>]P[\51817[GHK&[AL=+'901#+ MU$[K^W1\]<')Z\,`!7,=>T$)Z@=.=,ZAU^N`!Q`2J\: MAX5=U`&R%VKGY*DIT=7C2BA1.]9+6Y[*Y!X$"F024R#S0B!/DR!F)6R-/XUW MI3B"+N%UN8Z+X(J)*Q0VU87B6,I)Y1/4R=]VKXBTH67#3[:X#UC5DL^<=*H^ M5CCH3,KL'V#WY>"328#GLU2`ADYX$!6(BV8;VH$ZOB>OTT(P+.`91Z#PAUHC MV1?)"Z\L0./JBS..,Q+6JX+\P;6@8#UX#+/02J9+4FL@M*!ZPBAA2>9+GX@S M^?$RZ,M40PG69JBJ=Z16%Q:NP2.Q.UQ734'GJ`WS9[8#GDTZ?P=Y$@NZA`L> MR*D2Q1!5%I.SB9W10-@G[C<7Z%O<[93,*S9_^X!$,F7+L!)@V?>)A*PHL1B= M*]KILA*/3UL2'"G7!-F=LI%Y(D$@"G.SO!S>KX(P!B30,/449@W5(?Z( M&01/YY%<(<#+#E\^XA2$2?X=U]\^QP*P1U$2K[3.,8G5"LKWGFR#=R,*HT4Z MOX]A+W3FL`;^DRHC!NEX[VFVU+0L*!3)V5I.AJ!`/\Z^D[(=^4U2!E657`0/ MG)1P$3F_#=@D=[R<&[Q5WB&,J.H%.58MR;.H_TV6*6L5D7;[H8J@A4]@RJ(/2B;F]H&R+1)L56E M%*G,"49?BJ*:0J0#%5IYZ4$1M6Z_D8=0D.(8'9GC)9SJ$X,T2D[W\ZOME?Q9MI5 M:&T6JT"GQQC]IGWTW\!1IM.`C!W"6ZC0Y0;#NRA/LRF8T/#*BMJ8TT^T`E0' M=:/#]3K75JSSS"5#>\J;HZ)0`>X3:OOC![;M#NR-I`-V%.6!]&PBV&>,""H7 MO]1]*:V=`=6K\T=/-5O$O]#RU`0"+G[O0A5-!0RL5:.Z&U+*.H5^_&A))Z]; M;^`]AXK]LZZ+472(/YQ*0)],+6]"@M MJ["MTV[O>U\0[OX:\1//$EQ"^.N+.$BD'#0 M\[(T8JY(J"CD#3S_VB/4H!.ZK&'GCXBC%PU7S%.,Q6YO?_FA8#>A5IW4)#3D MXL+F[#KZG4ZKUQ-STS]J[:]IS_G6)G`)O=9=R]8+E7%;/S4\)EO3:4.7/`*( M/.$`.$XC,8BMM28BBH2,B$0FKZ&#?$5=7W*&''97%G7GR^DGDJH+8OWL_7[V M\?J?/WF'O=WNWM]^]CZ<7WX\O=PY.?_RY?CB"@0CWHQ)'KZ!PS>.\TF`:->_ MO&GSWQ,$$)6_[Z-AW]Z`#8=8H?BQ)4NF!/FG!$O;DP?[^Z'Z_N+X MX\>SKY]W+N5G**?Z3*2W/_IP?GU]_JM\*/WIPJAC?]1OKL\OZ`=O,`)&QD,_ M+8ITK,7NMO_V9KGI?50T&&<9!O?\$KZ,@\&?B^8[OM_9JIU8^JU]U'R3"]1X)I'%6/+NL:Y]_?>R4+X'!S"^!K MZ1XIZ8ADRKR_]2_NANU>.[,`MN0O?#TX=7PH)..'''7SKYY;%3Q[I#,GKLE+:6J?OT%!!#0QSR\3MKY2E: MX\!<=X(6SL/FIF%AQ/=E3K[E9V=SQZ'U\/Q3<,U9==4JH69JK/V\UN] M[D&KUVZ_G@VV1B!IN\%>PP;;[6YL>SWAE&YP\[Q]UJFL,].??$X[NP>;4YJ/ M.`I?E]+<]8]>C[[<&B3?J+Y*_OQ#V"=(.[N=I]M]]ESV"6K M[[*MD?*-&2FK3_'W8K$<['5;!X>]UZ-,UPA:?F?*].FCCR^4P?8JPHJ?.9GY MR1;\BURIO=*5_!1W&@VV\<8OGE]8+W,UTXL,\9/E:_U`J[36LGS\Q=LK-P\W M,7(-)MM<2^P;W-_^[N'A]@RR!^\8BWV_08?TE5PZ/=<>>,E9W"[_[?)_HLRC M'W`K/%EZT*L:N*?WIK>Y/`NMG1-$#$'>N]<39]H&[9\MHK>.R_Y=!%??=?S. M-H7F&0;Z_>L9X=5=_V]A@)\N&+#Z`*\3(?@NU(F_>[A-=WUQ@W)[;/XP4[!= MXM_$$M_Z_C_[[DUJ,:\' M%Z%`=SV%M?MZ@BW?4&SQVS?&M\69SWI/U>HR>\3KV6VOZ=Y[N]NV)9K;$LUM MB>8*H!*=UZ-)MW;+-ZI)MW;+HD5PN+L%;]GNLZW%\NU8+,\YKUM#9;'?U][K MM@X/MF@2KTB+6L%)_B=2,VU2;\SOQ#=([W5<+.(.1#9A_)^]"DFFS;Y.Y+?T M*V&C0Z*VD'-AB!T+_T;.P2$3XP:Q=]1>\#JB_"U2X7$?1),H)(JZVY#Y\<9! M]F=8V&3K]32<3%XF!+S,E(WP]$@:G'O#/DG2, MU+S8$G/IC=-A&-.;[H(L2DM%`QS%Q(L6,`L@3")T`;H?Y;>*[J[*#X_<>S(" M6[:Z#8AY9M98:UV"6F+O=.DQI;1%\W%Z-B,>T^\*#;7AQDQ'HP@^S7E?#%11 M&(H5JG6MEEJ2%G`.AP6*6T=H+?2P0FNM.C:*\@&L2Q1YNW@V("9N?C/MD<*Z ME_T:L=IAMK^@G]ZA6IIDL(-1+=%7Q,X,'Q7!P\SC[Z+=<)>I1H?1:`1K@B8V M+.Y#46AURDLQ@_)Z<_A!XP#U8Q:0QAP&4Z4#F3>&L)Z'7G]*CPD-Y&T:#W%UWP;0%M*2NA^K M9DD(T'DR>K`#0T.;33U)039D.27MB^R0X[2$Z1S6]PS&+(R) MX58H>IM$((K=[<&["3$_K4,&6\^\#)/";,0P>Y,R`T4`&J+3KM`Q#](QM.)I M*N8`J='S,BZ061NI:?,PNP.-E[?`9(P&M^:U]Q&HJ_!A$F6DU,_!6G.D`\GV MR1*$9O5#I`^#I*).-4LU4<8SE3V9A6B[HLJ[3[WPKS)`8S'!_\")`&=$/*8S M`[L`IP`N6Z7?HBQ'7O`$%&Z6!YE6ZDP8CFK2WBL5&6D'1GE>PB#"P.4E/B.6 M!L@]9@T]RM(Q;(6;"#8#F[-@O-Y%0];P5TPN;QK9>]=Y;W,NTMO@5V""%!%, MQ?&@0"']HZ-N"YE]@S'-NK.EXSRMGVK+@#(S727>KLZTF>?PL!^2&'OMRPI>94HB0*0>>$BF9D*]?2T50#3? M.*AP4*S)HK2G&$3,(>@]->09?:E M'1_?^FCUO!1SS^O1UEJD?J-LS61"*XI[(D86M$SLJ6*]67O'._VK!*=VMC?] MM?OU>H;Z.0[&=;GN6W:P9!)$0YRD03")"CI&!EE(AC&H[$`<#](N![1G6J04 M,K*_\>,]V9^@U]`*`NV)'^N#`[D MH\&L5XKJUP`4>0WQNU+P&3T0TK+R[L";I=`MOV4TRD,))`6321P9KT.='.OZ M]#AZT/-)*,<5#%-O7PZ9%@^`/G!F[$022)U9KNON'#..JAO"T:$#017-YG>Z M&U%MK]WR?$Y=]@E]PW\II_!3E`1@6L&V.`.3*RO)XMIJL<>$1M06Q!-^I(<$DJB9LL[X7YC9OF(8YQ?DX^N.A$)B7#2-%%GGA!)\&H)JGJ.A( MKMQTJUXT-+=0X&@\I`DX:_]__#L,X^NE+!.L)G(_I<3*\`G\^ M&D4#F+-C-B]@4"_@Q!O`^OP8Y7B'`J;!=?A0?(AA+?[C?_\OS_OW,M^Y"8+) M3_"#29H'\>!>,HGO[T;Y4Q_+<6 MW=>TP&V*1C_;555V!=9PE2EUY^&UKH9E"K%ZNT>]FEHL_GCVY"^?W@1XU[5B MI1_/KD[@R;.OOYU^],XO3B^/K\_.O_XTV^%R?1-AV4%X/=/V(O-R!27N%`/X>I]D%=SF+"1!+$TSRBX_TV@E,?C*:`LV3@Y`X'@;J#*V,) M.35?W*IH/9R/8'K0Z0\FR2@=E'1I#,Y.Z/7+/$K"/-?AZ%%:9L6M]U<99`6? MQ3I!HGWDWC\$$[SSD#PEM%.B0LR>P*.DB]B;@)^$'X`E1HE(=/.MSH'J6FK! M\9YY]V"*Q=.=]!XSBO*RG\,)%633EMQA@[F(T;*3.`RR>_3^6MZG&$9I&,!Y M/Z`74Z@ME$0CG3(T"(N9%IT!,X*UP*],P.I`MQ"/(SS-Z`Z>?%V8'#5J%.E+ M$_P9)IYP1@!E0U&8CSQAZ+LY!$TCNQX>LQF>DO&T)?E9/*L8P[-D@3F_]49Q M>I^+)^B-L^V,.5:4:Q%6DA-B>!T<_\LXO\9Y M!E.L"-EW%N\;TQ!0?)A'Z3.99C)]"W2$>WX"Q3'O@/@*5<#R\`^,0C?'+KRVY[J0$ M*O$H<,_BO2)[.Y35,K)W/GJ$O':K:]5*.&C`3/T54`7WG"VIVD&=X.XN*_27@E0^-V3SF;4640 M44]``4![21X,>),/P(W+6(/_1Y"`XIQ:%[\M]B#H+8WCJ^^.=3A-Q?GU/N=P M_@`,]HR=6UM(WN7F]E=?E)83[,_;/;X.;I%KA3>T/WGO(LO(>BO5MWP[DN,U M?\[7)2*.])]CB>\BY]D#OLK`1V#J_T!W%Q<6YFT.LO0>9P$LCWZ`J2*8*PJ? M1GVC:)H&9=<[3ZK7(-`-<4.=HZ"7,5+40'&E<$&:7F1J^&X#>,A)Z]B2RWO;<<,4Q8699;, MW()0VV]E)OAW,=]/5=9D2XX*\8*#6HGX1IFE@<-&7X/A:>.,%K:4]N/H1@W. M./@3#R/45G3\3C&4K#>'LV/IS@S%>.NK)89G!1@NO%NJZTP&02VM..DA?3!]$D2R0JA9>3Y]EZDQ#_JI'3.I.C1638S M1-#B?Y2QM;7UNZ9\E$)/8-3O@D&@5AZ,HEW3I`4\E#"Y/FY95CZZ;.`T+ MEM)/2%_"2`71&%8CYEL7-7L?M"S?C,%& MO.;3_UOU'4]`P^+%T]"Y4R0O@3*EMF[D)FX7,;P:X`49YC:DX]!8Z!X:*W>8 M+.!>X7,F=9V#LGZ2@`Z;7I,_BE8)VF'[;[I&\.3\RY?CBRN0"G5R,,G# M-Q[60.23`',>?WG3YK\G>%K*WU*9=D@`37BEF>''=MA32;$(;.K5H5WN=W;W MZLKS'H=VN;\ZS-T:5Z&'RZXJGV_PS`Y9>`UJA?V?!//57ZFP?&G,UU5R"]>Y M>UYMP.=MX^7'^]5M&;^W>738WN.Q#3<^VRMNK]H#C)K.O+]SA^KAW[9;;[OU MMEOO,5NO/L/KU>T]?[>S&N+KC[3WK.R"5V14;A"]8VE+LY9OMD@GCG7Y0D"I M*U0GN@FB'+-*,67'H_`V-&*[;`V.SN,WY!HXC2N?D$^*U_$TR3S?YAY:'=EH MB0/PJ5&-EI_`'P!KL;M[L/D9?,06W!!ZT?)SW/$/M[INJ^NVNFZKZ[Y_7==] M53AL*WM?WZ"N>X0;M0$/M\G':?9C7IG74)C_45N15Z'%<[_?,6( MQ\N)_>]_WU1I9J70,\RB.ZHELM)3OJ:)NB-0=9R';[QA.(C&09S_\F:GZU9U MGN'EWANO3"+^^[>KCV_^X1]VVNVV)??\EERQ3M+D+LPH7_5CV"]J!#I:6:"] M?4>>QB9<22QA3UP1.NW5QV3?[QPY4LR^OK'Y\Y$S]?-GOBJKO[*LH(^:)%U' M$K=;L+9HV?FT3NJF2]E25SI9K?C"O25\3$ M:9BR_97E./!]1Y*:MU?V91HD3VFAIO4_<=P%&+Q%V>U MAR<(G&M^^S4TXJRA4?=RBYL;LB5Z#*\"Q/$85+-SU65#]"HU[J-_2X((L<, M(/*5H$7.1X0JE)^;*I`/!!NB))JK*U$BWY&(WX8+I[(Y5FJ]HMB##,N6\HLP MHY_33XZ3H0*]4:(ZRK.S2%(8._7"-__8:>^V#RSE/K]%5[PS*BQ`=*%/63H^ MT46^QH:$UU3><,7P/"+X_L8$7UN6RM$0%N9-QPHAZ#H](>B=*T3>$7@@=[', MU=NU/8$>=+ON2EFQ\54G0PL[5^4O*^SB]E:5[T.(L`;\N^O@(%>&8=!P\F:4Q5AJ>4?5R;O3JW/-E*5S8B]=13A4:=WL!DS8F\=U>:W>P>/,"/LP\0^S[5,"[52 MI]:0V&\?M)G)U>;1Y' M;)FQ>#VS]R+3759/4@ MG(:<==Z5D'Z\4Q`[G?;/9Y=7^B__Y_>,/$&%X#A=B!,FUAD6"(!1&<24=X-\ M;!;`RD3FF!Y"((QA.L:X1:&0FB/F'1F'F7=Q>FZC@@G1#!:SYRF#J!@(LNZN MY_:6*$;F=/GR"@G&T)9`X`HXB#26"5:_HW2[WJ\&[:L?QLQPJ)!X\E"_E%&$ M[)X8U"Y\VSC*"6^?4<@(H,B,@L%046QE.`)Q>`/]0FA8@H'USD8$AP'O3&." M(@GNT@Q.K:F+>#,.L(Y_4&8-LX&P'$44.[!,BA%/\(2LN6+8MYJIL&&D^%," M-LG2\N;6\P\,.ENDX/_')"O4H)$T,X@1#>"7%M-;N0WH7(E1DHT-Q[ MA%$QRYL0VS*>5.H7HE0-LFA2.(-AS4RXLB"X"9B4(9Y6%Q&VJ=ZG>NH.`V(K MX?@)0(YBE\+U>9HE>6$I7/P7_K_WWVF9W)@OOGRY8`H.BZD*\:9R1!T2=`N8 M2IL$4N.^CX.B(#))>_8)1&P;.:'QT*8JDV%NECIO MD?N0N;.R\*^2%Q`O&-HT"!@(^SLW8+Q-^O9G[S:]!T$RA:L,/P;A$/L#P70R M@O6< M2;!C:5`8>`CA`O7K!*'0ZEB0"XQ2.A#$-RT60TZJBT3$>.):-05S2%PDMGP1 MZYUI6!AX,)938W-[X4.4"QV66MEFP/&-SERP\E>4>2H'=>J]>^OO=LUZ!8A!A"`\REQ#-C5**5<#L%%SU*2%0C=GG2?(783B^4`O M@A^^[3'0UG>/@O3UT<<*,66%!KRW1RJ@DUA!JS("D&@0OW'RT7R.2W<,KX>>D&AU")X8%>I=;WAYVH1_R<3&>83'`GI$0M-FCD);]*"0W4P:E]38ZR0I4H6BVVI"@Z2^;LSW\[T M$,^/NDL:N50F)&MMLQALD]+1Y3B0S)CG'!_!$"GP%*4`*DJRO/5:@!$7K-I, M];H6A]99*0XB)RZ01$TS=2K![L/3+0LX[6CO5LRY2S+M]Q*T;X+$Q*EF0E!B`T[F8R3(`%<3= M6,'D8T_BH65X]D.;@2:@(59L6U$N\_/=J](7"2)\(<_I`DV#$$V`;2!A$R`` M;%>/QTBXR8XI.,S(@$<;05C90'??,W6PA?>J[$3E`^&^H2EBE%S-\:%NS)16 M0$85!0\M_)]*K:%%*\:.@]YK'X@L$FJ+'3+9N"ED;T7*6G#V*D2,-C5?"Y5H M2VM4JX?ACK+_E"QL5R'ZKK&R\$I)8U3"GK_!\`*A"&.W)5:-)+%!QD8J'*Q& M7N@2#@UY/YE8K]+:KO<[CR]!8]X'YEP"V?E5&6'R@8CH2F$FEIRT3#X>JO/% M(]C;((=A`\O>HM:1DT)IKYIC`J5M0"2O/SV,UOSN-=YSB'F&"/U)PDS"?`KB MR6TA6AOL?N.>1D@:#[,B43CMVACW1!FF*G"G,T5##4C!!.'IN%H2X7AAWH8>&\[^D=(W2/@VOC2 M&(RU8M<[CA$"$BS/AH!&G3SV+D#[3T'6#J)L4([Q_@FW(0Y8!B,V(#N"`B+N ML!'!$2NXA5XW_=9(H-QM,!/_*LE.3KGK#,ZOYXG?_MUOH$?!&ZUL*03Y$A"* M6Z.@0-KSE-G^!PSX&JT6I13"'4%O"S^A.`,3Q3A_"`;.K M?PJ'>-IBD)!>_^!_Y[.B*)^Y)WSNVQQ;&:U"_&&B%,7_FO4EQXV5B]D MN*&R.6J#+S[-)3KY%=1,A2:BJR;0CA&@JL60]U29:O98[58IZNPO%>8[62E. M.&F/6>B132;T1C!-VOT*D@2QVY'4I;E;42[D->1>N8&J@QXSW&%(-=($)\B6 M0U#P3.W,9#3C`!XKQ[/BO3T\;!VT!1%>3W3%0ZQ?S#D=2RBR6=8AK0,..\"0 M_%$FUN'M]LRBKE`!@.IZP.,B&F.Y&PNK6^1=`$<.(BK#R5E.A/:^SJ4ULRKK MV9E5,ZG7@N!N_TQ/@M!+T`CC#_8/%1BTK#F)P6YFJ3W^5'FMM5BKY;3,Y,-H MST7*,"@%_#.X`%D0SV;"U*36;C-AOK%?R\N#R].#[[Z/U^?OF?I^8: M'_W>D_-?+TZ_7A%YWE*1DC4-,U>ZFO2:K=6U="AF@GCYHH[K5+N#EM]\2#=9,.:SZO^5&>9@',.!A%%D9'\7/T:=B7;&"/_:M:8HAX,<',6% MPH<'>5555I\.L59U])W"[#'B[]-/NM8-R*XRC'+MTHK;:0+R=%X760FFB2*) MZ2NR/>CP'QRNE9!5Y2V*;%AG(Z<)TZQP_H3B]R%Z!&H!Z8>AMU&5P:HBJ!4@ MDW\:R$TEM[Z,IS?O>I_H;U@N.T6Z@_]M29M*&(O*#>]79ZF%=+?=R:)U9!(W MW/5!GKGT.,^5#6H)G45D;E)^A,M5:`;77*%(\("YBOCJAE8W=81OA'H4\!GBVLM4")RAS M7N"]64DW%.@CX&6,W#97@@/OK3ML/?`!W@ED0]K55:;&U\Q,H7?5EE='H?`/]V8KYA8U?L'GN13U585874/W_.ZL$+6- MU$-A7&J"/5"B57'6P)^`_^M4]5YC0]6MFM]B;`7^@\OW+H@IVE*P4#/7UR4^W=0=+%36:TFT_N0=+-3A]0(]:OJN\;:B MS*;63[4\*ZES)8VK/FM>OWS["_5W_7BL*(&%=]"\>E=2UZ:FMF+US6MJ@5"5 MM;N2@K;DZI->9LH6INK(3N/=&L+=3.C1)5 M*]8W,V^':RKE1\S-;&JEARAZO;U;8)MTJ3FY!V13V^ M07FM:;@(LO/L"O/MAV0)*BP;+:6CW<^^?EHXJ`8-I[W;;ONUD]_4ZOIB[BT4 MH>Y(NE+7WF"'U&T_P)Y%U_W'CNEEI'=_H$$Z3ASSZ*8GB7]X461DN MWNY_7\_/.5SQB&!/IW/4ZS["TYDCSHKG@V#65>`O%[7O&$3.P!^M>!SP<.PU MFULU+NBE5&$JZ"\GKCB*!@9>YFA%^USPB'J'[2J\RJ(6*SI?E_EO:(Y3;ZM(MNZK&W>M M;G.AW5T'U'>P7\$8LM[QTMVVG> M7\^`N.RWU]&[/F:,;!QTV6\O#)+4GIF=7E66A;C+9V9]_%%7\2@&>_O8[NKAQ6F\%X]MOK*.]-PCS[[75TM7_8=??+BE#/?GL= M=3QK7"^)]@SCM9;QO`G`9]]?1XGVZ@[H#6$^^_XZ*K)3!8E<"?:YFJ_A^^NH MQB53-I91AG[O\<;P,JDAOK^.LNE4CH"7RP[Q_74T5+>BQU\R0<1?S/I1MP&/ MELS/62M'Q%],_%%[/CYIFHB_F`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`6-56Q4*P!T/N*X(O2%(HM:K,4D('7>3:5: M:4Y#ZS/O^+UU:.LJ3N%&J'?\^15=30QVO7W7B&GDWCEWEQE.ZQI+I5-E-9Q] MZV.;K:.DZE3R-QN;)4/)G@][#O"`"?L%K\V5^]ZS3+%E6MBL0,T$4"L*Y+CF MYQ,*W,9!HM3;RL-2N5*J?^T&FE[,@+5,TY>@Z;,(*XGIUVLW7:D#K7^MO0(( MY3[-UFJ_-C+5M29_[LLW)47-*'3::PCQ>Y!E05+D:#TIT/TUMJ/5_]HW5I:< M&,WL$&F@BM65@+OB:M\Z8UP1>M3'D/][ELS&$->8_ZY?):5;W,S&!:NC8JN$ M5%:7"P.J07Y[P7B/PP_3WV!\SQ*M\L7')9Z8U>VO;N6.;OG6GDC*NN/./SK< MC)0*+.0ZE7@`O&%8XH]#N6M??=]5;M@6M;!9@>I6W&/D:1A8IGA\[#3.^)!+ M-O5$(M8Z6'L;D5&@L\DK^X(XLN>C$X*O64.SM8]6+:E)Y*P9M2J*=KK25BW_+2S9Y9?;>[A6@?" M[!7:VLT_7T]J:8B?K"<-6J'F;>ML]X/N,BJHIK$G$K+>VOT%(3]5 M+:5UO//#:K[C\LT]F:!U:[5WM`SPP3*"JO`=WEBN81S^42E0\LMF$[:67ER#RU8G:>0Z&4[7+>>#O>ZS]'E!>O"W(+; MF0S^J9S@_JF5[?T+DZX/W<]"EUQ"@:]"K_>IX+?DO;[,2S0)JG_[7;V?7 M_ZUX[/]U>GE]]N'+J??Q]`/,PV^7IU=/+8#WZ>SK\=>3LZ^?-P#MO>QJ>CWK M_YGX5BH`V2ZL;P,MA7`7HP%Q4<+CZ.4=-S*NS/ZDA@V%*9>0K5HC+"-MJ6!< M,P$:LD=-RBPOA8>9D;]M.8G$'9E5-.<3`A!W.L0&1=#)>[VCEG_H>SD#3PG1 M"B?J>)PT"V\F@&4XP')ADPN0BN6.N)20YYIYYF8Z*AG2'`ZM]E/HK&0L,H9< MCP;1A,Y0`^]M7D\0W811G,^#9O^0!LP8HZ[8;)1MFI`B#,:-LY+ELU+:4N`A MR,#*#2MEUSL?,0TRUA3U%0F`F<9M([-1`HJO5(ETV$^5, M$A.G(">/_,X:66))&1HJ%"5+04RJ;BLPKX-0-][0&!+NX14B$[@B(0]">Q/M M-\>0*ZCAQ&&2*(!J9.&*U4\J#6,W`@%.8H861UQD^9X*W#>W%-P$44(,N5.; M]=9='Y4EK+&U&5);Z%3D$9Q?;!GY4EI>^#`(05EB!X@N)P_B()ORJI#!<3:> M2,50UXPJ#]_W0\:L%PYH)14,1A3;C^&:(1[SH>'6Z1/1V2",8_A4T\VD2;B# MM.#(Y1,A?2#2.LJ0AHB97E3>2W2&_&Z6WJ@$@P=O#6S.BQ(7Z@%IBUWO6(\1 M+S09-\9G_S@'$/UMK]5M'^H&,LPD96)#6CA,&A`^(/%E'LZ,$M/*3X@:<>3! M^]J]?1E[ET(9J9W+G#D/\K!F.]TPVC;Q,=!BY0@[O^6.O)@@'V11W^#>SZ@P M[Q[)PA6P/#$P!U$F3\_12CEMG#E:P[)DZ!2:6@P,AW5G4,3(:CT8D$Z[::=" M-W`NT>_/PUC(D1QB0]R7F`^@=&,JRPV."3XE<)XL;+E1^!B:H&^$(^]%N-V6 ML32&81\^`2?,*,YF:K>/^L?+F!SP(9LPFH9-CHS?IPD&@5"!R9U4E7)N<:8Z.C`P)F;0\AE)+;03\VJ7G0[- M'=N"@H,J03/%)M(0DLVN'.G55J[I?#<5V]XQ/>D:&F>&4:%VHS?V_E[R>9S^ M5XV^7K=UN+=OJ8D!JPG62U6!58I0=2`&2#8WE$"&J+O(IF%C'D^,BY"\#1W? M]6CQQY:.Z]3JN&$&>V>8WK.FQ16:V>=5;1/R=:#2SCW#;C=O0[3PA;S.WG:$ M!?5>G2C*'A)&/$-`O]R[V1X@>X:/%8O<7EMET,88#?W[1`S#O@N1;9 M`SA=>(`2E5O#"JE?T,JM6&TNBK5B2APADMF?"!L2\;IY!,@;' M`4V'6!Z=@QVRP1PC$#VX'!6G6--]M!(C55\@?(>91;)Y0US6F?8;,A"0?S") MR]SK_:V%%,5^^V]$"HS\CF=!(@E^1?0K'53B>*`U!*Z2^3VQX M:=FHS;G<.K0A01)E]]4.%#,(F:_HY#1ZK\E`<_0ADOPD>K?SVW*FZD(O!?>* MO]MEFF1Z=4M4!PH(RP7=AEPW1Q;B.,C^!%MWH:%8E8,8AW#'J]&:D8G&K4+, M-/RC%'L5_^)['Z;`8I(F;P#?P_J#!1/>A8J0*8CS5-&^PXJ3DJ^=0&BBT>/; M&6+-D;"6%6)(XHM')2U-M?;RBAG?LL530L`P(:$8'"JN)8^\9R0++J60Z;AL M&[1IYMD-Q`@RD<-V8,W*2-M\3*[B:_$R#_C>R^N72(=*C$UJ8;)LZDBD]27. M"FT!ZCP2T*(_EE>6CO)J9.%HUQ>6C^(^;?BI"*Z;;9S@A;,Z,Z'>LTQH#8DZ MZ1<,\X0.V1E(FDUYGRX^I1T1/G[YIW>5LOS"&%9O(,(P7,!<@EW"7-^2>D*6 M0S9)Q:!QC&WH'M=!KM@4&)38:I[!N M1L&`.<_%BB)O>+'DN]YOVA!IDMNUK,;!E&("X^#/T)@S*HR_23`L)=.TX(:Y5BMB%HZ",;;L85E24.W96[7!MC8\- M&1_UNR<+'^$=MAJ/NA@IE.'@IQ.4+QQWO5\S*Q1R$:)E\B$.!G^VD$PZ5+'P MY8._+8JJP=Z6*T_\ MS"+BF`1#')9VIBE`]7:_8I5I1F'O7<=BFI7>6W<.QQ(:.^IV6T36-^:8W`SK MN?.(RWG^FA?F-[)_>,EYQ%Z)-(GIP-HF"UU$'6X%8[SS_#%@&RS-]#SZ";YY8W\^6,JFN.% M_+.P6.E21:)^>E_96UJM@=HCGQ8!.4[H,I")S[.M8@0SP:.YP2=XOK-_U.IT MVTT12&/@.?9TS2[4.W3N+MSU/H@VF%$LCWDO#TRPR)52[R2-A7Z9\L^B;%". M<0K0H6*V93M>*EE7?&18_IBZY83I26Y,.&^=F`*MCRDI^"QDT!L9?+H>''!8 MAR,&9+GC>@&C*I>+3%"KX%Y@SPM;QP5ZREQF88Y<-*Q8FHZK<%)4OVG77H5@ M2\P@7'OM]GMUDN?I\ODKMJ0KX,#K1TDZ5L<7'R;C=!C&*@C*(R$JF/1\;U^G M5JQ\4XHCG#%UL_`^P_A%<+9FQ/7=#XM[5,L<"/M>W#HQ%S_.ESNM9+]1LZ"ZUOMOJLU+=8I\R#D8Z1YT>W-7L^[6SB._@0GZ39- MR6/#:O!\-%7K+99$Z6FM*3W241#4BUG)X0N04B3$9%1:\]@J!FS8<"-]S*L9 MWAJ-0-V90`UTW#1**1/)CJ$]GW?F?L?,Y4LG`U<06SC5`DL,AF"\BZ-[%ZZ/ MX'!0POM=]87YU@?KR=\H"/6AC=KO=-+G9GNL.K)XE_`HG MZ#D.U;-*`I:Q13\=7WW0\36*3>/PWY31D+WXQ+9+QP2H&^K0.APZL-^FVAL8 M:BVJ3/&QN;1AN'/.N,@+,`"G?/K1K10']^&V/1J]K56Y M(:MR\5(WBP\<3)C:6SCI<%HB*J5%:\Q-<#,^#BUVI`GM%O@=.DKJ6^/AV[](,2A2+V88T7>4U8X>3DR;#HNVTC(W"ZM) M'@R-4BYQZN7A)*#+>+Q$QHT;#DI:I];JY-Q;O3?U/F#/GI.,$'613=5Q"4X_ M.=TXTAR;F-,5$.7^EH+$])(%'3`R[>1"(AM)+::M]MMJGES>P.IM/X`F=CAAG MS\([RAJO"5E1VC\NAQ:9"4&2_%&H/?P*F-$\B+1J_,"5X]%'Q_ MB,J*$CCCB.XF,+$C*@)>&`&7G>`1+[<7V"IL3=8TG)`?8HJ0 MI.U#.YC^Q_E8FD5(2T6"5T2;V328F17$DO&!"W?<^*I\F5VVG)/?=9U\#!ZP MMHAUP$X9J/;>8='Q?GM;! MZ(%P05GXZ>CDS?'1B(0^6]+P[M/1M]OQ]/9T-COZZ=]__]N/_QB/1U](2+@7 MD>5H\3RZB'^CD8A'LS"2`B+OCHQ^^=D+EZ//QR?OCT?CL>(*:/C[1_7'PA-D M)%L+Q<Q/(H M4U&]!C22DZNWU$)?L"6EK\G/?'#RX<.'2?+V2'IO-$K]QUE`;LAJI/[^=C,K M,4;$6TOAJ]4;GZTGBF+RV0M48[?WA$2RQ41$]+PAGXX$76\"DC^[YV3UZ2@2 MT4IZX>3DY&WJ@^]*_)/V>MQ&$BIK$D;SU4R":DW:*%,7TH]&MQ'S?[]GP5)B M]_R/F$;/';73".R@Z:DG[B\"]BC::+5C+FK@>X$?!TG_N93_+\DE3Q$)EV29 M2U8Z.,$L:2=O*6!^27J@NBWC9;4SX4E'67EBD>`_%N,[S]M,E#D3$D0B?Y(8 M.#X^R?KI=]GC7Z="D&CKI,!;D.#34?EA1"-E3/9P,JRFIS'G$BY:A2OO2GKG M[\KJ%T(ZY65+/.[G@N0_:_$LCT\9Q43$ZW4B;4PEK'/^%6?KFE.97>N"9A]' M*>$H8J,*"^.RMV3SSB.A=_=1^I_!@J1ZSC1H8-=#2UK9ZP&"YED!0F@1'10F?H^BZ6F-\0G4NM%0*Y( M9.C>`-*\M]M($>+!P30[#.R"LNB_11/]>71/^#4G&X\NSY\V)!1$'_MFPLP] M%D*$<0>;98^Z34P6\W>X8FZ;QLT$Q1CCFM!-L76EBB!UL,GS)V26@&Z^-ZG[A3%37 M#S#BIIBGQ,-%'11C&Q9TUI;08&O!BI%,,KIONHN8AS2*.9'*7M`G]2^A`T@C M7>8M,QU"6)0-8'`K89A(.!4J+&)[!$0]*Z*>_'K*UILX(GRK5G4Q9WJ?+]QJ M[P\ADDU6.490(P[=@'_J;6CD!?1/LLS5O66KZ-'C1->CH>3;]7L#^4&@PLUF M5Y`T2D?W@7])/$%4"G>VWG#VD"1VM>-_,V'F,POA(2`$;*$3_3)X;K:\GA7H5NTL@]2,6(3XK'ZY[ M\J#3)VY_.NAFT/&@P/_"V/*1!D$%N-7'F=NVCS&M*E5HAZ$)[Q2)B#ZV%(G.&C@)K:)NM`816*P3= M-T66)DTR8O-%0.\2FPP#,XRXG*,V$6.-O9.-`!@TR4.WU#]?;P+V3,@-2=)* MC;,UF#[S63,]5FBX6@I`!T`DNH1#OE7..B'8B2J[#0]D6@#9!`BZ24X6Z1\P M19K'@"&@D6X7;P,=XI"#+(-%W20J"_Q[-($O*#E?G5&Q8<(+OG`6;V:A'\3J M?)9\ZK,PHJ&T:;Y1Q[*D[8WKN2[2ZHN_5M*P0JU?+T'6'ET;S&#[3XRP->8] MK31UB*'(>S:G&&!Y3W.6HZI,="@B MKM&;P8TSQ7_'D.ZH,DK#GG8Z(YP^2/L>"*3W`ZFWI2\[-6)\N!D*0TFC3.PC M1U+H@<"DF;!8(3LX<(#-@^'")DX/"3S9CL8J6F/=K+%2AK7@U&B9<]U))Q'= M('#-LXI^HJWN1*V%8GOHHDXQ7-#M86ZVIA1G?62U0M!]"YRR]9J%QKB:7N_V MUI=?8XUH@QV`<-8EH.NFT^62IK/&M4>7LS#+HQ>[QD(9WHK0?=D5]6OVR@S-DG@,P8$6)LZT`E$!DHJM8 M?.7$$S%_-LX,9H+,,QH"K%%OM`4099T,776BL$'\QTG5#Y?R_WN\_Z=^,]-@ M%=.L+UP3?GOO1X\M5[:@/>3A*U,&XG\0`!W8?KND&[I0;HUDU2XYUATP>/!FJ/P5=6 M^([/IOO$H`J@6W+G>_P;O4;9J;A?64#LIA+P-G1BJ5!=8TAYNSH(N*.EX] M7ZF+$,2M_!`LWEU1*^8U4F[K>F9*=.&$FV6+L%4*OIL^(%>7U#9RP5FVN[D` M+&B'YA8&0\9LF%C`+IZ![XI)?ADD4(HOUS2D(N+)1K7L4M_J+`VCSF?N!FJT MD'$S$S3#-TG$-[;(;TU6-D:/B4:Z[3E6$]VK7RI`7?22"P:+3NA2L[/P06JM M2I:IIL:4CIULFX\QD`V85VP$"`.;5\X;F@2G>0^30,@:9$@XI'KJQR/#VVWP MRV_1Q]QFC$NH*W(`.\['`X:X^!4U7Z572$F[DDNDJMO7`*3YQC4;*7(D.)@) MAX5=*.CC=3B,?`LY2>^I_>+14$V4\W!WTJ(*$R!UYL(F:N1@<3,6CI=&N7K( M?(]DXDC.6]0-K.:[[53%`RP:*N3(@!D'1X11GAX)/W1&@N%^^$MRYP697MF= M$%_9-2=3_X^8BF1_[M27(*71\WR5/.3I_=9>6+O^K0=1VVND.XA"CJ0>W02' M6[=&]9A\CV5"VZ[D,@,_DY#4*R4-5*6BP]3>O)$W.A(C)\BSF$DUI MB\G6[C,YN/A2T(U<6''J1]DAK^FCQY?)_K<+QEV^.B#O1ALLS1Y-T]T%^=/A/M4U/;TM^8'`%[/_WJ0 M#?'/7B!L:!C[)08VDZ[(8_+&99RN\0`PN>-Y/3@T^6$OV"LTMK\;$EI\"\A1 M^Y;P!^H[04C#!0!1D>OUP,CLB[T`J=0<)&TU[)GNW^*T4B.^,L-YX_RT1KK> ME4N;Q&'%L?J&I(MDDAF>>N.&^.PNI)JM(B_E@]9YA8M.YY+Z8N M),WXLI-`)#V7KM.+%UF[3@IV*=!)PB#EL*#?CZ_V-XF8F@=D&]%/*C][G'MA ME)K?8GK0\CL,]&7^P\)M5__L=?"M-*S'*IX+2FV=L.?T6\]IM[]8N@U+FJU+ M>NU?:&!_N&>2L6.XFV]:0]:Y63U"/Z!!J*$/)M_V`EX+:B?!/OQ:)>Q]09"V MWG^)J+UU0/0((@/0%E/6C M/8&^72VI9W2_KKI2:I-C8>:DY$-@B]$ M5:<](M[ M?=;WNNPOO![#N`[KLOXR%(!>?$/QJ2?N+P+V*`;;/*PTF(9+]9?*FSUX@2I9 M@))&;5BW/Z_KP#IDYE=I>,W9`Y6!_?S\3:Z%9N'V>H'LE`.M#4ONC+M\+Y1Q MN(&F5=Q9!Z^4AA*7UK-L+[A5=-F9_]<>@#>"N@*KW^H#7($>ZP]]H-2P%BG> MJU,\GJPN$":+2'<"W(5%704-7"#QV@!&L->_+N+WJ(O!6^NIPJ=X)6 MRV/FB*[5*J2RKP,OU-]48B&'9"M'2!CDH]]9W=E):D'BIUH>].F MENC0@`*RM0-03/)??".QH9:K1P",./^XL1,?&B*<;._R0=/0SO[V\YK2\ML- M\ID.\_"*A>?K3<">"Z#(!P9K;WT9;`XBRC;Y" MK?%"$0>1^D\%-%::S#5ZFD,#!<32#B`PB,>^S51_$LC08`*R MM9?!HBP?^V[/:I)S%DY]G\42Y#?$)W)]5B\*N[#L[JYI9CDT2+7P0P>`P5HS M)/>.\:RCZW8D%XZ=QIR3,)H*06J3F0N+$7`:EL,'7*,?>@6T/75W?> MIS84C(6-V%96^[BM9SU\G(/]TO\8;FC5@$L\.7V@Y?H?SM5L=.HLJ[#SJ;VL M0X-RGY[K@.V.:AC`CF=;K<$;Z6]+M-BH9F&T;U33,;Z:C6K-7MG'1C5MJ^BV M<,AOG/RNB_3"9VG&,E8:$^UJ#4R?>;:9'MW0:(,+<_<`9/C3-*F0!6@*L,5L MX%_"TEN\_;D,UR'.PF@?XG2,KV:(:_;*/H8X;:L]GNOK:8CCS"=DF5QL?DE# M(N:K4TZ6M;OA&^GR(Z,VUU(8,9#@UIKGW3`GDN;;C]@@&1=K+&[];K8 M699E70R7=6@P[M-S'9#=40VGD_C&LW79"_7'0G8G^>1_4$L#!!0````(`(2$ M3D"B,8ZN;1<``+%Y`0`5`!P`='-T9BTR,#$Q,3(S,5]D968N>&UL550)``/( MTSI/R-,Z3W5X"P`!!"4.```$.0$``.U=6W/DMK%^3]7Y#SK*LU;2.D[L+>]) MS>JR-56*I))VC_/FHDB,Q(1#C$%R)/G7!^!EAA=<&B1FV%3T8FN'C49?/C1N M#>"7O[\LHX,U84E(X\^'IQ].#@]([-,@C!\_'WZ_/YK=G\WGAW__O__YTR__ M>W1T\)7$A'DI"0X>7@\NLW^%:9(=S..4,TB]1W+PSU^].#CXGQ__\ MQ]6]_T26WE$8FHM:*_[RP***P0_'F[J4%.)?1Q79 MD?CIZ/3CT0^G'UZ2X+`447P&5%*1BZ]!NBE0)_[QN/A8)PTUK&MJ%_0=44IS MG?[\\\_'^==#;NB#@\+4C$;DCBP.Q/^_W\T;!5/B+3GSQ>*#3Y?'@N+XBQ>) MRNZ?"!$2YBS2UQ7Y?)B$RU5$JM^>&%E\/DR3=,$-=GIZ^K$PUY\;Y8_[RW&? M+.8L2>,ROA"C_K,NQ`6P8I\=!N#PN:8Z]*#++H$!^U4Y$@_PQ%TUP M%@&"7A\TE+SK`O/?PC@4G=<5_V>C5O*2DC@@056OD-0J<.?5 M5!5%U&]PCT2?29E4J5RAA9<\Y%IER=&CYZV.18`X)E&:5+_D(>/HY+3L)/]< M_OS;)J1QE8];$'0UJ3QL:U%\;&I MP=;Q,];4A8.R8E3BTRK$+AA=:DU,#6)O)?MTT&5SD-*#=O$LX<7H2A3QN!R4 M\1Z,#QM/Q+BQ:`Z?_(@F).!=#2TN1OL?)BOCA M(B3!>:/#K]QJHJMI'#EI&ZN,\V]K6;V-CS^VT=L/F\. M2H8ZO:.?([=_'-7MLR0A:3)[2%+F^6G+U_*/I?JMCSOUJ6P8#^FQM0J8>^QV M<7F/C<&!9QEC7'JM'Q4T#7>V:4;RJL)O%*9*W;%-3ENG=CAH1F.C^5:L)\SB M0/Q/K&RLO8B+G,S2,X^QUS!^_'\ORMIC:ZLRI<%@94;%@LKCM)_&78BT*A!( M`3+&B)R9[].,"WM'?,(%YR/.:Y*6*K:#`X"TBA$Z4JSPL-`/A`H]/XQ=Q$WZ M1-@M(RLO#"Y>5GQX1.10,!.6AM(08H4!6#<0"'3[$>3!'Q%X\&9Q'B8KFGC15T:S MU3SVHTQL'?-?Q8I?&&KZU2:'Z$\G M)Z."])91+FGZ>AMY7-4X$"/BE9@Q<]42U0*"7:'2P,!"Z*:FO935SU6A+#&. M.B\SQA7+&.%R7X8OXJ\D%[N%$2-=:2DUW4A(L/0WA:M:!P6L%@$6#7>W4]1N MXH/XY;+[&[83@:V.S)D/X"[ M$T;>%/Z*,X9>$_#S,*Y##Y6^CPN4KI<%SN,V2+*'1 M_KFTRN9G=$LS"H'UBR_;0AB'S+7M"<7BFX:BNZ>#=UG-K(;>C=+R&,>WYV1! M&"/!91B+;/0SFJ3)-8W]8EVX&Z#!]*69S/0C^5[G86JO9QT.$M8"$P"6&+,Z M:MILI56W^BY-M]W7:'!Z'Z(/P.,*-AC7TVJBJGVK]BA^/P[R'L[>6.HNJ;;C M.LF46&G5L^H=,NZE*2ZCIT'D2JI+>N1HN M.#>HKT+O(8RX/B3A M3-B%"9+4>FO74PMUZP"!5M2"S202\Z^H%R>WWJO(_I6G8FDH*FA(*,;'A":# MRJR2POV2_"@I+XR>OJ8IT7M:0U&:14:!VM-FE>">EO+"..TJ=\[S7=&;ARA\ MS-?W%8FU,.)F"H.*,K!2%H\+$%N/HX&*YBN@K(7-Z;G502-M[Z(E:YZZFU(>`%(-C0,4.X]H#EY5E@`!AI-NZ M7T&''0$@]:Q`H.*(<;.])J>#PQV.N'4GIE,ZY@&," M&P0-$"--$P/.W6_E^7&7RJYH_/B-L&5]LZ"SH:8FV>RH24C0N]VLEYW7I?QP MIFPH=@'4HT@HO7[C94)!P59CN]&EF;D*-R-OOV\U4WX+SJT-6`<.H`3_"SFHYFD<<1_$?IA>Z@` M+U#:$%``-6BL%8:#!L(:X[CR&^/3XHR]*KL1-4%I(PD!:A`8%8([7<8*XYA0 M_1BA&->[\HL';QE==!:V)%^JN_MJ7U!Z5"VZV8.-LA@7 MF[Z2F#`O$G>+!DNNC)@KB7S.\FFIMA=AU)5G#=0XO6VE(@`!)GX85Z<@]\^V MH&%39)-8#2B"$B0]E#4C!<84XSI7>9PL?BR6**ZZEZ)K**H<:@D%2M^;53&[ M6LH#XQ&\:QK3IJQEW%*DNH#I-Q>4F.A18L!633,B`!PQGMZ;QVN2Y$E;A=#S M."6,_]*"A8EL<]6=@FPD$,#=3,$ZUJ%@Y%]6-< M"O@>,U*\!O656U>,<&[B[7'!-DZ`U*7Y3-130(N=QM:`,;+'N!B1'QOLJM>> M2^BIZF$G.BSN)$@Y8;5YK&\!J"EAR:"MKP`VK&^-*AU)MZ#P8.O^= M!+:@6EH#1\,8XRI))[#*06$B4_5<4X($4,?A?9 M2'+QPE7FXO.)('O-%Q'%V6E>DKLJR@VD6(?;>4V;M9S=U81R27A_IC4O)N]4 M%GD;^AE!"^**E"'A"XE)-P?!0-5`;I<*,>I,*D$1(^&C6F-&X&X=OJWCGG7X MPHP'"T5=!!,E2D9^0(&D6]EG:R^,1&;K-UH[-5@F_W_QDM!O0:9GZ6I>9UD: M)9B&F0"PYVG+7P&S<7=#JN.%MX3=/WF,Y++.XN`\C+*4!(J-+95R-:V[.`,?<,^GXC,2Z&QA!>HE8;:J8Q,H M!JQ'55:/<\N_KH[TFO&$A_J;!1]>]L'R((Y25/?C.%5\N["?$Z3W%`1C"H3! M!G:=O5TG/R$]\L<@62FRQ-4B\6 MCS;(9B:]RI8VMBN+-0J%#/:K658'!RU1:#S!EZ2E! M#&B"WB!3\U?`;.2'KI!SP*H:Z0UAA1*-#HT#6.T;5!G.O5B;4>@L35GXD*7%2M0=68F\R_CQ M@A=0WN^Y,_X])B\P_CAQOF,SVBYU.Y$`YXZS5+794KQS>+/(4RTZIMANIDL+ M5V9I-8W=5U2=)=Q=12,UEMTU![I'O]0;G7.-\E.3.]0$9W,PB2V\)"VE@T\P<5:%K M=$.K^*]I@FY],4Z#'*R#JGF.N^;NS("[FK[M:MKV)EO?KJR^\R;G4'!5.QMW M;^*>B&7)V">R`[WRC]4M>LV/*%<9M`H`+LEL%0>$RO%NC)5<<#OZ'9P=I[S? M'KNC)C+N[;%OX+K8HLF(\X@TSI^ETEP;JZ-MNUY*B_T:68""P.MDY9Q0I#*U M1)->*:NEJ5(XI#0(KI+5>I'"E).Z6<8XS\Z0,YRVMW_[B,G?9.%E4>K2X1W] M'+I\["MJ-ZGE_V@,';LO=#6_=Y_H*K^/E8VE;:C4K$DCVTK&K/4T5\4$1I[/9'B"2WDW@;I!'*SBA.*#,G& M0TY2YVHH9.]@(7>K61N03Z5L4%SN-(]](1LY)\7_YW%W>>*.1M$E9<\>:Z=0 M]RR]78JU*HURY6J8"4#9+W;\W2;F*ZZ-RF68)TE&@G+3(M^LR)]V.P\9\3FC M.Y*D+/33\H'8F1`O7X+EHBY(F&:L<^&<:[;U1]E1 M;O-4G!.IW!Z]LD-[D1+L'N[]^>KQWH/OF&\7ND2MNB4,-G;G@40'>HP-H?<:8(;8M7:TF,,=<*LGB#ZS5YSK_8C+T[90!!=%OF;05.E2UV M&"QK56(\-JMM-99P4Q2"!,+1`6>'&E/`@^`,5*,QL!GAM9_I5"XU;Q'WA*U# MWRH^24H!(E2]U-N*46I[[#!*-2IU>Y%]GWFY-9*4Q2#!!P&6;`%A"D`P$`%K M-08A`'K&WMW\5U:\^)-\HXJ]N.JJB^*^=!(G>>)I?>!X1XI+UDFI;&&".^+3 MQ\*BG7W2O=:ZV7'=3ZW3B[KC^&-@U-Z;T'MYLL(8<=(T*E-MKVE*DEOO59H/ M.H@+='BAX#(]X+NQUZZ''RHAW+Y:T7LX,@298#;@X0HN;`X%&&@X8PW2GE+! MACMV:,4__/G58\R+TT+G'@,9:7F+(4FS_/1B[%`;[6&8T*H>X[LONB;K."?! M<2X"YBW9'0T=<.4>#-E.'??)7VUGXSHUP75*`F;<.P.O:7RRP]0#)RD'$T\U M:(2$0J]V\)`U`8MB=:1#BDTTD-M;Q$7`!M6*\B4";:."`[$?!TCTQ05/:XR9 MXJHU1*$2&".F)4Q'.YM^YB5/EQ%]3M[/H;^?0W\_APYT[KU/8H\W<-WY(3N^6T77(.\LOK]]YY)G'Y55!\6/Y_G5($L7EPOT9 M;)\BLV6`\OC38$.`'B2SK@)C'O'[RW?F)XO[H\GIRWCV-#G.J":Y:&?Q1_ MQ\$Y>4AEM_79%*FNCX44&0F?.T48[66N.B)W(5Y^R2M(+(PA_GO,B!>%?Y"@ M=DDT8>&:R[_N[`0!J4O+FZC?*$;MC+0/>!HEPCA$KJ4;WD9>7#Y[+EL.5Q+5 M5[R[1&\4?B"3[`-U*D$P'EMJ;6C*P:8GVMQ5)"5ZHV`#F60?8%,)LI>S)XH3 M^'(4P8@W3P5HB=\HJJQ,M)?QG4&@_>2Z;[+RRWIOXFL:7RQ7$7TEI$S,;_>/ M-F6J[A)4YHU"KX_!]M*9PN3:2VY[F?HE42O-&@04Q MR#Z`I)`#9?*N]!B2,L+)B#HAK4'T1J$&,LE^@U93$(Q)L^]OY4X%WCMZ;7=7 MC>`MOM>[74:Z]R)RL^`FX49(7\4\/[]U?)4GYC2;A5VATD/`0F\4ZKU,M@]0 M0P7#^8Q@-_%XHVYYM$G]CK1E0>7UMLJ"D]Q9[&V8X?N%-E5C7'KLRC_S??$X M;L+;*PG7DKQ1FR)*`$J*H#F%8`2/%')&(^@/'Z@JE8-,5AGZ)GN+)Y;., M,1ZABV&(.,DJP[A+IY!\&[,M`*8HI(=8N]!;`)G> M$,YAUJG.;3>I6$54A]3R[H-9'/!?6$:"J]!["*.BYR]^J18^OY"86R--RI8" M[B>'5V'L5P=4,7$,.S?R+OKM(<*YW53<:2"^YC.^0NR:?K!PK"VJ#\KRHA.' M-=@HS@.THE*WNXZ.GF^#3>#DCS*W<.F$5_4LW"!>DT*N2[/UA_)`*=QN9.[[ MI%`+R/8%K4\&37/9J+=AG!S0`%>-L;]7R#^/UR092"?Z8/K2DF9Z7&$.@A%J;P9`=-/4 M+``'J!'C8B5AMF.`9MJL:XM-EI0U^RA`=UWGR2_*XKH5SY MI7W!99^BJA"H*SI)2`XPS@X"H[9RG-D70+5[S[&M>6GFV'!>D\2R2_,-!_=` M:7`F:RA,<1G&7NP/F.@`&.C'"#H&4YKHP`W1>Z*CK0+C[)HKX!,2))?7^MK@GC!.:.K,H!QLU"G/R> MQ4&Y-GHEEDQO'J+P4=H/VQ?/ MB:RU(M0AFR2L@$H[&#DJ*\*YJE,?;6A>A#*128:%&%YTS%D?KT"/+\/)A>,F]%];B\N_FK[6/RP^>Q5H_'_W0R\BY(37!QN3U7DO`Y M^/8:2PW"M/02A,GI)X\PB!G<(DQ1HPIA(R<5U`0_H_&:L%2IND=2I2X6A\=-.\^69Y$FC#02^J]"E:6\@`%T6Y)3!` M>?-F@!USK-G,70UFO%$Q]LK;3_ZB%@A/BC):(+7+3`A!>G7[0J?#%6.6\'VV M6A4OE'B1D%^\IC./%Y0MBRMAY9N4EJ6J>VV`I5`BIY_*@/=EH'PQWGDTCU/" M2)**AU9;$)%]VAS#J7T:R]F6[J1:C1INAG$N#M#4.6+<(2PNWOCFO8BU!8F/ MI5^WIZT:7Z?D:9U>O9W=8FK%&#%^E5``"6Z00`%0`<`'1S=&8M,C`Q,3$R,S%?;&%B+GAM;%54"0`# MR-,Z3\C3.D]U>`L``00E#@``!#D!``#M?7N/XSB2Y_\'W'?@]2XP54!6UVL? MZ)X='YRVLMJ8+-MM.ZN[K[%H*"TZ4]M*T2/)697SZ8^DWA))D2+U<%8!N]-9 M4D205OPB&'Q%_-?__?+@@4<8A"[R__;=V^_??`>@OT>.Z]_][;N;[:OI=K98 M?/=_)__[?_W7_WGU"GR`/@SL"#K@]@E`->O2)?WW^/ M@KO7[]Z\>?OZUX_7V_T]?+!?N3Z6Z>_A=P#3_QC2A]=H;T>TJP7V+[>!EPIX M_SIKBTM!_O4J)7M%'KUZ^^[5^[???PF=[Y(NDM<2C:3DY*TKH"_\EIB^)C_Y M!F]_^.&'U_3M=_CK`1!_OP!Y<`,/@/SW9K/@-O3#:T+QVH=W1$?7]BWT<(M4 M1/1TA'_[+G0?CAY,G]T'\,"6Y05!213Y2C^0K_3V/\A7^I=R"Z\+7?7(HVO\ M5ZE=^"6"O@.=M&4B6_"Y:-/Y1\ADHWU)JD?0@(+RSXG"Z("[^_;MVW>Q2O^% M//ECAAZ.)XQ3ZQ\G]_@`_2CEHAW^VW?<]Y$;D;XRWK\N=X[(*74O@"$Z!7M8 M:8G^A]\?J4]3TFS<0;[8!P\W3>P9^J]NMM\!U^%33])'('OV7Z_SWM=_\30H MZ\0.]FG'\)\-/R:A>+U'V#:.T:O2[SH$Z$&D%]3X*8M?YD=0(P,1`EP)9I7[ MQWL5]1)W"J^[TC'N2ZYE>+Y:SK_IB/3\3D7/#MJ?"!<=TCI1];OO)AMXQ+\! M_R,$T3T$'O+O\.#W")T+X)!7>]>^]2"PPQ!2$CL"=@#!*<2#O.M3GGT`:1)T,9("/]*7(]]Y_T)4`'3']`P4/\S_`IC.!#^/T9`NM=!\#2&+JN M\6#K65^.T`]Q%."1@7>'U@&<[G%KH4N^]G0?N8]N]+0ZT(Q78$$SL*(X3:D>?MH/Z(0#)VPNJ74=;=P#=-SX7\<`[2$D1$,'L".R8TY8/$([E@FV$Z50A1SL\)9JY12^NK/MXVL2 MA+^&7A2F3VA8_NK-VV29\%^2QW],]WL":`R4V3TV(!A.?<<*`A3,$$;KGG0[ MW,$OT27NPY\5+]**-_GVBKQ:?JY5/_7B:]4F^?Y+3=(D)P<)/?4,E`,46,#O MA`E0KO\>UD.T@Q'2TF[9`RB)R$U^M!A6&YP;5NL&@G(\]N[QP.L]@448GO`0 M6`#W.D`^_GL/'^C0/#TOT1CZ#O>%[$F.-3.B[U+_$LD`L#%!I(!4'EH>#\'@81(?$W`J+R0U#8PC<>%BM+8Y=`!]&N\A[@5T!EZ_.@/3Y@3_9V3:YJ<,VWL;-V1^SM!>KGC2T$9N%_ZQ_>_K9-K0 MJCO*?K%%*Z*)0RSNN.'Z M(*2B7WZS0\/3B6^6V/^,8K3&B.<4R]/#+0QHR!^/E;R9@LIT(YM5D'W91.[( M9Q'CLFFU><0X;;JCS0?:6^!P26Q=5#BZFP-A-&W[A;^RXVU6[ML?4("4?I>ES`2*U/L!'EL3DO\`L-[?O'9&]K74;!B8)-`D5O5^0CV[D M+%CX58"QS3+S&<"QQS5@TXC$T1:YU!$]`??A:.]I@$3BJ\?RLBXW`"MB=YQ! ME#GPMEA(-0K>KI9!E:,7+IO,(F;GYLGM78=+D)IF61+A=F(OR;""I7AR6*8+BVG\B5<-6%&K$4V84;GI1NYRGBOG>\ ML,-M7&/VPI$IN_"3LI,-5BH`)!)&:>G2&)2?T4B!679^PQ:F,-\9DU'TN[;4 MGVU4`[8]>GA`?K;!@O_*K8(,D=0JCM^LHHB(K]HN^E[DZM$T=!?!Q-8SSO"Q M/_-INVS6E_ETNJRF$WM*BY%>=NO3H4CWONME.7..I%FH]++=>46@\DA4F'L: MB$$;I:G,3$=E'#VO#/9H(SJ!Z#DM*79M*.V7')^;J?2^1-FGM7"6,)]A1-JG M[;1>\.S-=C2B4LX)N23[3,7VY(B3S]1$K&7_#SY+J9R7/+F M]E3Q>R&P0YJJ+G62`X^,X>WT8SD M)*P&"@HL:;@@Q:)G?`J]TO3FSM2S90;POWW=^CQM0/=.$DN_J.:&Q<_^F.* MC<,A!C*'X3YPCT4S24Q31))FN662Z"4"%;2JF;.6+5F0SY/%,,F>@L+C@5-Q MBC2%9+YL):TF@[*0/5-&Z1JA_<(G]6Q".(?Q?Q=^DJ\S76K$!H.?!"?H7+OV MK>NYD0O#Y(GU6O-A`@=M0]OGUW MTF":H3K;J[@`=LQ!'N#OX.4/DE@@3F&-\,@;9$&`ESQ9V@1(V[@` M22O?O(`N5+_Y`?,?U_"<_'GX@V3.[V8^P<@K\.0G MAC"F'G'`3;8>R)VN.T2F[\2/9-<4\:P2DH*1]&FYB`^Z]=P[.ZZ(0=YF$4=6 MKN?V%)&S%;3,S_=@$8'#*:"12#;Q;_L[LB4/=G<*F\KU7T)7)&#R?;$3C#.G MAEGD%-J>';A)Y'2+_%-(J)(`"T3VE^35@703I@L=0U^$.V,ORED!>09>M/,5 MEBO/ON,MK13?5==4XG=F%E.*[1A:14E$2BR?4,K"N@GY]T@63$K?O[Y2PE!/ M=8F$D##61IC*TZDQZ_[CY#IN](0AOW7O?/?@[FT_RBN9K)'G[@GZ;\,HL/?5 M%8_6_&DU675^O=I];?NKA^XVS0IJ\RE+FUPO?KY9S!>[W\!T.0?;Q8?EXFHQ MFRYW8#J;K6Z6N\7R`UBOKA>SA;7]<>#2=ZTQA;357"EQIRJF4-=.&]A]6/7< M#?<>"D\!Y!6K,R%*U=:9HOHQ>\&OZ,D#L'M@P!FP!$\R;AK6%OA+1<,2"2`7 M,:(Z>$80JNXYFO&NZD08$EOXDW$9C]&C'J.T(5HW^CF.KIV;"[=`]%=M,*8+ M1(_29I*E+-QS%X\E3CZLD*4HV_-`6!B)['PD.J8C47*B)%\D(J*248R\\+)Q M#5-^1L&?A&9O']W(]KC,M>M"0]>`'H^I\FI`C\]4-<)F"^L"/;C[.3SBZ3;T MRTUR9L!J3,GGDV72> M"Q_[F(?XU#Y[EJ'"DEXRE&+1NU^CT"O-2X9R+0ENU<@(F*14U*O'=*!`./!% M%!4,H#8ZJEQ#D>`L7$-I`[>N#DDDAS*NL!W;WF_0#BS?F=M1%<5-9,GWX)-I M64]3ZWH6(Y#.MQ(NTR0]1!._`N0=-A`'D+?#FD6C$I'L!R_#GT>=0UX:%ZHP M/]CA+?T&I_#5G6T?8ZQ#+PK3)U70)X__2`\R;>B)-W*6:0DC]F45&=+T[)"0 M5.\HD40O-$\6B5L0'#02,>;W,?+7%Z0V\4A.5DMI%ZEHH7)023EVZ&T+GMO[XA M9U?Q'W/,3E.AO7][`8AG`%L,B^31F_C1 M8X_3PXF>OB_>29_'Z0+HA?3B_?1U@(XPB)[6GAW/&OYQD`.AO2256:MCBB9TC<3E,72-R-4 M^W!R\\(?8B/TZ35#Y[F8X;MO9M@5FL[6#+N:X<8[`+]`S_N[CS[[6VB'R(<. MS?\=5$QAB8$>\%"SDFR547>O_J3$("4(BZY$@R\ M&2RE8J2DB,3\DY^9`=/5ZZ'PSVF57!H2M90HS%@!9QV M3:"_+KH)]56.%.W90I#4M^7A>D*:17+3=KO%L/)RNDF/4VUC>SH MQ(:RF+2$:!ZI`6"+>V$"W]P6FF#.84S1GBYE9^]!3#`&U#?H%JGH@&4#;(ZJ M*4C"IEN+H&8XPY':'0J>F(;`I"CAOT)A`/;,-DV@O2JX">1E^A3;]"E('X\! MT6PE(8FORL)OB;`*6[&VNT7K^G3KN?LK#]FU:RV\]R6DEMX;P"FC/1,H+8MM MPFB1.D5H_`S0AV/`)TLQJ/%;LK!9(*LB4Z3=;G&Y@>2X-:G\L[0?JH`1D930 M624Q`%!VJR8P6I/KO&,2T\B@ML1/7YUN=HC"R?5+>@HUH"88RO(4,)K`N MT2,CP!>WTV@%(O;,).)"L)3J(JV67"`/^6/,(&`F&\4I/?G2R7.0L]!S[@2_A"U]_]7@ ME[?M.P""NSZ@G-]LN<)/:H4/Q5250\HU*B/'E#EMFSFH7!?>?%2YRI,?5B[> MG*+OQG%]VH%EL9H3(^`0UP\M-\&A'VC'1Z>;P*6$.4?+/<6"R].5K,&3HI8(\0E$'&U-I/=X#<1PZ_<%XMUUG MX<_BM'N%J7@%)_(,R5>08=`[<"K=(\W[%C+M",Z&-K-/O[22P-:>*LM53;!$DO?^#)\[:1CH-'U/_QC[^VXH0Q'FG5,'2(/MO!P'%U%_B37N\SB<#^O/L&AE'@[C'B MZ#ACQ97<*D`7$R7?A4>D95SBEO4\-E1Q-`Q2`&]^-0$(QK%DT MJ`_)?>PR_-FT.>9[1(/1"-D8*(@?Q0$<^3N^7Y<422Q6*$Q+$>)G&7Y"BI\[ MX2#41=I#!5*+C+VBR@&SAC.[1$&CZ">S>YN4(W9]<+#=`#S:WHE.W9R,"!QU'%@I(45]E>VI@R@UK4*RII8?A#]@=PHSD<:&* MEVSE3'!EWI*DB;34E[:E"%+OUI*ASR.3,BM0(2T=%O9"501 M4=@4'"N"S>Y(#P-D;OKEIKS++_#XY"#/LX/PY=<#;.XF]Q#0[F_PFJ$P6AT^ M(.2$6^25DFQ5S$B",OER0DJ]@A+-?=`;=,0-",I*"/@FY"4)\^AK0-Y?E!*V M#EQ=0D*O2$$!9?,1,!3*3`P!&*,^O@/<$/\]7VRLV0Y8OZZMY=;:/@^@\#RM M<:CT.`4H=&-UN(JG<_X=Z6QU>5"&-`WPA:1ZT9!$+\QD$!4W)(AU1(R3$CCH M.N`!!N3:T2$E!'M".7#\(J-KI**32FPBX"B$(L/`R-05P4X01(/C"H8R"NJ) MG@UTN(&M>?#TZ'#IH:+58>Z&1Q3:WH<`G8X+6M@4]XY4-T2DKOH).JLC#&CO M.0LPVH)29ZTA2,\&M7^!IGWJM"^PWO9B)\GI-%(W*.$&E/T"9`)`40+(1(QE M14&![:U1G!^$4^M7A24[6";#HGFN2+Y7NH?.I%H2'3:2$#"9 MK9;;U?5B/MU9/ZH!=1Z7+&- M;TY=DYL*JUO/O:-^(&2'MW+$Z;IM`['>2IQ43S17;YO:$"S$B5DGR7M`"4"! M8B01HZ2BD9HZ*@MT0I["&MUP.#*[J-L5G.A9D.2KT53>\0)$GTY\=*D99;LJ<(L\=4XV2HMB MJ+[)J+AH$5M5SM9H6/WAJP_?;0IFU(/SW'6>_;#LXY\?Z!2=N1G8]>[2R:%# M""M1*:54#E&`M6N%((/C'OQGU M[[T@$?8BW49V$`T/0!)J3+<_@>ER#N@? MUL\WBT_3:VNYVX+I#EQ:'Q;+Y6+Y`:RNP-K:+%;S9XQ+;DQRIKA4NML:X]+R M!: M5>"<`EH2Z1Z"V*O2*VUN0G\NBN4-ARU4VZ MF[4VHD9@LY*(X]HMCU]DO8.#M>-QHV/,YLFY0H)4E"'5CN_$D&T#S[5O7<^- MW$)Y4X>DGB)I/&^3FH8_?@U`EA^".H5RGTE2\@RNFSAQ*[T`^P'ZN*_>#GZ) M+KUZU2=5MBQ]BBR;9FH,M=[I)E:1;DV4+4-22#GG;D(:7^N^``DU^)W0`\HP M\/BC#!345HG5C!MRW,7T&Z/"IN$<+CU"E-8@V5CKZ6(.?EEM_FYMMG\!L]5' MDNAENENLE@./)-U#DI\&IC=0]CJ"/+@1S>M)=HCH-#;[V"5%&7#MK4BM2^/YU^^$PE(VE=[P8]^*&89-<6"#`"6/@V/FG"RGQ M\P".R/4:A^8Z3HXK^MAG)'KOIS6C(5K$C=WJ\25L(P^ M'-UJ%^_ZK5A[=?Q6K]1VJUZU$?$1!K=(,JQ2UW-]X] M>;W%"DW>OXG?EX,U(N??Q7+>LN6<&R`E!F-52/;G.J_S(\GL],]\@N37L@BT M+(S?HIX+9#?')=/,`]BJ3-`O6@Y@]:!FR=+H=L#UI6W#I%).5C=\HF MOG1'VLA2+Z\5N^,-]9F`B M[RBU@-*?XUS;3_3(X.HPA[<1F?61JM*LRJ(2E,DW$5)JF81$'_2JS4.J?Z<[1P&[J,=N8^P,!9P*WA( M4B=?IY%:RY`D^V+`E)I;XIM3$^\D*[@%7!\/O:>'+%GPP7:3=;!AK4=6Z4A1 M,V4;:F#*[6A05)DJ\=PAI(B7SDE`::(TEG(PIB'%<\R=@:I'!UVLC!F*2V-* MW*PT)2YU\=KB]*S5T*_1-&;]7@BL75?XI%P1.FPN"8U)1GF3TQAVD6G\5+R. MIM2"6SIO\S(ZH1FUE=%!=[&-KX[>6'.P6EN;,60U&)_-<,?J\5I-KZ-]O8_3 M!Y*G;G581?FD1[3KS$F+.G?VE'@=TW%`>(736 MD*YSZ_@+:$<5W?5/Z`F[:G;"#CK!G1!D#<`GA!VG@)B",#A6;HFB5' MTC)>>L*M#>YVNS8OU!^0:XZZH_9*+OQK\QJF@Z7GY3Q(@!4[!Y=*^&;>)A'W MK`U\X.CM@^WZY%>L_#0N-1"IM18JBLI:"#7O2UO_L@ZBK39]472.ZDUPHR@B M*HV9<)24+?N<:[C4'N-BWZEK.R(OJ2R[P2.>ITEV'\J,T3))B$(8X@F+DS!] M,RQ#`5)H_16MZ1TTES##4A"CHT&["O+\S]*L- M'`OOJ'N*GE"WP8)71-FZZPC]HBFTB[VD69L2>4S-EAK\Y_,S7+4;OXISB7.S M6G*QF#=M8*_/,DA!W`*@3;Q"IPC$C8Q\YG$6CH!W-?J;*S#Q<3N?P9R=/WCW M;1SO!F'/SGS[FQ=MX2/N(.=V"/ME\K6K+[4\$+LEO2"B)I-O[A722?;O,5SF MX&@!B;]=V2;*-#F:.U2BT0&@M2[IKM?5U6)F;<#6^F1M2)Z7<](GS\NUU&B/ MGH6DF;C$[LZ9%6JM5#V,D"CU-!PB/;`*6];T/#S9`M2R62;T^:M;\J)4Y69@ M"(O5AN0^<@703-H"L/M#@5G790H,^0:^C[_+GA2TWS\31'"=G!E,#''S-KF5 MY-^)K]VRR6IW;JMDABY0LELW==NV)EWFSF2%J73/-GLWAK"L48>,^Y!";2>8 MYU&S[D'V`@M);RA;3MXH/N*K6K<1L.\""`G)N&[+MH5&\SU9;7#TYQ2O3H'O MDIO-4]^YM@`N>6X"O>/#:+QH&";$0Y:!`O]QEIC-$16.EYR/;`,4\T5BYD,&91,SXS:54.#,@8F%'$6 M=B:%!X;!*>"H9G%>L,>.<]3B1@(.8%?R@`H![#&$6%W"TC> MZ9ESAJ39E:[^D,F-/T8RU^L8B8U!2:=([#%,(?-3W*N#6XM%ZF_2@*/X1L^& MZFUH>NZ20($1%.@F\30^_M?`H&9\6N,Z%56]]><>XE-HVPB/2@_\9.D-5,FOY5)IH;*A;3UWPA?. MARF/9S);+;>KZ\5\NK/F8+O#__EH+7=;L+K*$Q-MAT5RDR*1Y%%S M"'<$0T[@W#$,^PXW=O:7.2OQ(2/0$).60@P>J0&;$_?"6%C!;:;)U#B,D\5R MMOIH@=WTU\'+S4BI$ZE\=I:)L#FJQM$[4LSZ9<,P*?ABF:DD+/M$U*KBVA<@$4[RSA9W)\UW]@>[=5P0Z?K31!^AZW%Y%R/GL>EX%S=7'Z<9J M]EAOHZXB77-+-9/7W.,AQX<'TW@M?N(W1V@>W`I?T`ZQ.+!KIL+L&E MTQP\&]K7G3'PQ8O&1A[7)'_UBKX#]"6@;X<>')LTB:0_>G4`Y)`7Q[R>X6$X MG#**$N+4=IOIW%I./UJ#;Y[KHX(?&!G$19^N$<,!AI'UA=RDK^*.\S9S@Y6W MFNAFMJ7K\JI"11`NTT[2!R!Y,C1XV;I`#1^P"M,241&<'2K3\!E;#:W&:\:) M7N$YZI7O@%IJMC]GP>*+T=Q,UQ"GTC^RY=QSZ?/36``F!B-R8RCA5X>R/#B%EX_!Z#P M7*1AJ/3H.//JRE5/67^3NL;B&SV0U]O0='XE@0+\%N@FA7\,C%'&)T>";U7! M8$Y0`%T7NC)Z!:"%RNC,CT@%WKFICNM`5)4WB(N@!3GR4J[B2JZSVDF3()G=]BS.6U[(24S;62772M2=FK0N7SYL+G%R"1-!KCUL(LRR$8 M,(*Z"VDCE.EVSL^HS$;'X[4M&F<7K"NM<95;478\_9OQL`%R)N8SR$@_]9UM MA/9_DOD*MA%R73EZX@_E0O+Z6,TA-^4WA+TQ-MKR6I$R>39SR:))A&MVKONG7F M4G>^I85PG#OX/:48^$*!,C*D[5!\15R66]XJ>P9C5U..[C%))Q&"D>$\!@9] M8+8=*`Q"L\>!`]E^N+:?R-U1SAH=GR(=#E@4>L;&;U/3R3,%"VR'03^A#T'R M="RK4@(M(8G/6H%ZG;"`ZC[4;=:-ZFN=.,=+V_\3>/@=.,;OSE/E7/^FJ_3^ MO-821C,[O%\'Z-%UH'/Y=!-"9^%G50FF^\A]9.UCJC,FWTB%4(371CZ&N&M/]YU`O#!Q[^%_PC#J,6,2\`H M'N^8C%W8O:"'G8QO[/:4#9PEIFD\RWC&/N,2H:;)NIL1)[9I!G^C+0\)UCYF M7-UAMC3C.L5`Q?^7XG3DLRW#.%4RS+1F@M7`$K69;`CEMW,)@>.]CMM4?[%FSK<7RD[7=G<%LJV-X MZX]WG0!\\/$O3V>E.-L2,(K'.R9C%W8OZ&$GXQN[/64#9XEI&L\*F2S''<6* M4--DWXPRYQMH0RG(Y]M&<:IXNC3%5+'.-JHS;8D M!"B//MU&GQ(][FLTT@D[1>+:C$YCGVW)`*V%(V@UVQ+(:>,6!L-['[.M_F#/ MFFTEM=;&/]OJ&-[ZXUTG`.]U_,N+PDP?;='I!?/+9]:8?NOC[X MM>'.1SXU;ETWT*:O9D):Q9:%YJ\D:[*T=N!ZM1W>NEL!!6EJKV;5*D)*)CU> MI)HJ^#X@3$FM`1*;E`,K\=2&;5ZK@F6+;<"0V&,"3109O M\#R!O>.5'V$-@]?^8BL2!4Y]A_R'W'E[M#V2Z&X-`QZ3@-;K"/0B&TP'(23^YZ\3MP&-!LRJ1]%>O1'$\ M\D*\UC<^S&Y'FH5)GK`5T2IG;H*3)$U^^`R`P@WX34)E!.Z2MQ\H2]_D/DWM M?LCVIR-W*K>IT<@M=J_CV:23UGZS(35LP36Q29A57Q`SNXK3+=)H!DG].'(4D:*M(0D/FMU MOE0C+,Z0>E"WX1FVMM;I=A/5^RC21;95-W^"K*GP/I/<^G<['+87>U4-#`4D M69I;%HEFXE-^J[J);IF213E/&0Q5OS6:";!(6TCFZU93G]8IB[E/>U&\X92W M!O1/`[9LSNOC-^-P9>W5S\]]JPV`_MS9JKS8>%TO;"R@2'XWDT(+TH(V]5P9 M6S`?R2SZR:JV;T+/UPZ+8Y&:D,1W+6.809A#N!=]&UV],Z#VV'^%23VTK`3: MP$MV;;7.\UW:>N_/[\XKL.%\"'8PCR->`@ M[?[:`J)GY[<.X-%VG<05"R:N0L*B"^00ZN->V`,#CI`GOP'V;+8$]\G+-"`< MTTQ7K%`D_^D9AL"DK]A"OS@Q[R)-PH4XRA0JGU'P)V[^+P"[!T)#E^Z?`UZ$ MKM,<8OISH&O<#:R;J>_$W4-A%,#(#>`#[M-OZVTW#6<&>Y-G54>%>CI^!7STJ022?!38@G@#X8V/(S*1'L=6+`OB`=ZA29VV]S8VQNDIND>!^T_H5$=0*>)T MG&P@UO,*4CW1M/RF-@3V+6:=9._C7'L7("8!.>^;R5U8V_ MVE@]JCI@5#RI!F2&]:"K4Q1&>+KD^G<2;I1!+?"E)6KCAL+HBWFO6FY$S5:* MO%S_6B`:G\VPU"TT'#X^!+938!(;4&]XZMS[&H(5TP^CPN<%/MG>":YA0#LK]---3$QWS6/0Z*Q0X=?X>09`X#1PS* M1PK%%ZX/'.1Y=A""(X8E'10&OGW7+2[EAHC.D-GG@('V$#KA%?ZH,^0_PB!R M;STXA[?5\S,2E-G0(*#4M,'&/LB8'>:[16+#$[4CLC8^WX3,WFR,9X`.8)^_ M!`Z\A7YT"DA.'1]&Y+7C!G`?8:HP"LF___7]NZ&MK5GY2$%+5:OB,A1-:0!4 M&=OG-`^HV&?'K^,KL@4"0"B>!V3XKM@P:(9QNJE76!T*Y5\$KE=(SW#`''IC M!B/LCSFCX34C9SIL[HKY%/USL5;7>,Q(K'NF,*)-QW,9Q-HP3OW9]&.*.X4#?%<7-3#J&TZ[0&;,E9OOF MG'15O)S1E+DJID)?4H],7X_'2MBJ9%J'2.L,FRB1LVVA%WQTYF,-P"0M!F4[ MC\0G8(3X(("/R'LD"[6X^=B_/A/,R'A2;=0,XSFI%U\=:6(?ZPL,]F[(.(XA M2<_PI!QZ8Q8C[(]AN^&U)6<_;.[$W6;^%B9OB/G0N`2@XPBR+LE#@&E-,JAA MV!23C6U;@^"LB]6)#D!6#X#C,"^A`QGA\\.8C./?D1!M'3&D,CFOH. MJ1IX),>Q/P3UM(9RQ+D/%Q+K&I9$3[1M2MR&T*!$K)/T_06@%/2N0D9S`2C5 MX*8DHVJDII":"0EX2O8S%)*,9E3L#%#$/6=/*)C(&H$[QE,E66=<(&URQ92T&_,I]*(C-QRWT,)F"&.3"UX.G2!"2KW-YE(' M0Y.ID$EYLZ%TBYP_WIN=@)D'$.ZAT.4.GF#$''YR99P3@GH9N+40U#!H/R<$ MJ0[7[1'49R[EH_U$=;4Z"`I;-)%EN99Y9)IY?L6M&TE4)VA$E`>8PS39P@@+ MIU:!#K3JP4@JN#2J$LE^]FH:839U,:UPK^@PM2IE%!@T873VCD"C5!SEW*'! MSS%M#!Q]^L;(=GWH6';@N_Y=.-WO3P\GC[B1.3RX^]H6JSQ#YB^;&31M0[9' MNC8BT8[(6AK9)RD-2(G`BP(92.@&/@VL@`"DKJ.J337Q%:UK<*`93M+?,=Z( MGR["RXD?/T=T\7UVI_CJSX_3D^YD:%D=9G9X?^6ASR&GLJ\,:?*5Q*1:QB33 M"SU_W=`"WW*$C)/9:KE=72_FTYTU!]L=_L]':[G;@M45F$VW/X&KZ]4O`]?) MD-(P4M%$V6I$'+F]*(%G$$NA6WSWR'.P(R9SU>BIV62:>>JV(^(Q943-_3)F M3<*FI,Q*($%D7]N?IAOKI]7UW-IL_P*LGV\6N]]&8VD2P&"9G#2>ZK;'9V4: MH0(*>]Q&R29$M'OIP=,9N8U3W4:1($VW482D>DN9$KW0W$81MR!8PQ0Q3M:% M^7A\)B0[A$\I!E["E%$N4E%"90%3P%%8P!P&-V9/?W8!'[ES]SF(=$P%.@_&T#FWX\0PK:!DXM:]:J*(:G\@$);UCQ-1" MN7&`$,]:?/L7$+\'TR@*W-M3E"XAKVV:X/SWE''@[+=F,,1SJH91-*1#)0O] MS2G=E?FX[I;+9]BR&OIGVLSXS:E8'4\*VP0)]3AS3ZO#16",0#H':XP!S.A[C,Q>VERZK+OP#"AYHV1=>^*[&E0XNLEQZ9JO6-\V! M1;HQ@:U*RI@4"0&A!(04%&C'$\XI`@2UU%[%1N68"Q8Z)D2:'4;Z`R:=:+[>QZM<4C1VD7"RR65ZO-Q^ENL5H./6/M&)[<0:0O@/8W@,15 M!'?V%W+\R*W>_^6\3;Y*[:V6F7':TG/P=:%\>ZG23I(2C/0)((^&13U/&:CA M"Y8Q7"'*L=JI-HTZ1PVE$F='AUY:*L\Y!32[[#TDR15=Y`!LFDFM41`1GO/2 M.,]OM=9Y?WZH4MZ^A"CFN^075MYI89;9CI[_J8KD`[5,.8G_.9)ZGVP%(.%W M*R.P1)+CKS/M&;U&TE*)Q-?LB&2P3WZW35^?CRYY_J25-@?R)9PIL)"&Y5L, M32:$[1KT-5(S!#9'U?>,9E8JUAD;PN(9)Y.4`^@N`6`T/#*$`QHJW6PV>%(( MIMNMM1NZ!*F.^J4\65L`].?9=@&TPU/P1)OQEX MZ&JKW4?0F3["P+Z#RQ/IS^HP=[T3?MI4R:HE=_*UE+FU M;*-E7PWX2/66^6:E*FORB[7X\!,YGCW]9&VF'RPP7US?T./:Y*S3%JQN=MO= M=#E?+#_0>A9Q8:.!KZVUQ1725';9C!6%Y"8^:F";&A`&1#492%(6D/"`F(F> MF*X5@+L`B:BO"]:\\6DP8`\^KM6Z>&F'[EYN5!/SBLP9&$)9LOGW5J2?CJ4/#5PMJ_))E M?-?(<@QWKEM33E53L715NZ#:D:P/M=$QSXMI:;GO73KFMAQS'\[(OHO)G3:) M+95T+VT,&R>\G1+1QDAU)\2(#CK8FY=0!5T:7I'SC?%FUIA5(MZM:E1*GZ<' M'V$8D?.-\4FBA8^'9?RDHOTFLNP\(8],\RB:N'7=$X9U;-I;.KB(;5>86'XJ*)!=!`7EGV>^)3BN6."?V+1&"KZ M\X;SI.+TE>MGM_F7^.O%QP?JF>"EZ9-O(T&O91'2_='SF#+-\(VCF7N2DH"$ M)LYH<@%RLA'DB9=7/E+63]F6&MERHQH<84:=;\=`(^XX@]J!4I&MC'T,ML'3 M@'@[4'A9],C#VHJ$/I'\ER_;!I\^-XH!8&+4TQI'"_&M,5X\1+:'8?`` MO(3PZ3E@A>=)#:-E!!60:&DFSBE\-2:I`G6&CFFK]4PSQ9]L6VWKC.5'^V4* MV(WFO+\B.B1KD(EO!,CQRE8DZQ6,IJM&]X/)-(/)^B.]:+"<@\7']6;U*X=X]N-"9HP?;]2MP;Z1+4Y'PZ?12 M/32UKYEN1"!>D,>!RS5)7UV`PDOP>_QZZ!PBC;I$TI^]DH:!1UY(O"`-D`%2 MC>\8Y:;8+ZO)PW<&B@>Q6])-T%:1*9'W>Y=4C4K_#7ZG3X9&+5L/]5S=+#VE M^"S1,+)OL]4X`!)3,YE^<:L[\4*:*B[+-&;@R6K7$$HKHB7`6N+(,7N1^2(< M-.-78P$O4V=U#`M46X5RD92!:"$`^CY3(KSR+;SK;?2.;Q>WNQ6N\U;ORYA85U!]0.0IL3H:9G2, MH;`[/1M.5*NI[CA5>?+T''7,3Q6KI>7^G).P1(,P.[_1-/M=U)=22*9?K;!P M-NF0F_+DR]17X&7#'TT&_)]/=H`]D?<4[_>[ME?(?\E+?Z_&E'P1628MK*OU M3,\&I-OBVX:DB$E&!S+"XLI')\>;&-R(D&@T9>@,D"2U^ MOIEN=M;F^K?479/,Q-/=%+RX64YOYHN=-7\Y\.90MUCDA2<]H;'':XEV>+\. MT*/K0.?RZ2:$SL)?'6&`.^C?3?>1^TA/.9#$^\C'ST[025XCOSH=,R(KO>ZH M)TOO^IR)WZ%YT4ZS"X)+>5J2X_R]*3^X?<(>`8L`KO\29%)`+N8"%`6!7-+` M-_Z,(!49!4SE'J&.R,*=PW,U(Z-CYTBM*P[@Z4H6.J2WP!6Y)6J38+9V%&74^ MC(_`FLYY&!_*6E2&\<'M9:!*$9]L[U0U23X!JTY$0F"N=$"I1;VAD2E7LFQ` M3%ZI&7`!Z.,150PHZX==,("EP\06ZG2<8@'=J%G2=?\0*]J'=W8$';[SUM9W MJ4I$&&O\79+,%]@1S>!`_CN'^SA_WONWF`#;&;TNN<4*2QZ_B1^?(U"D"DNH M0Z7?>0HIIUHLL9K7Y@YY1TM4V0JS#SDV[0A)I7?Z'#+/3A&`ZVRT^+78+:^"S^=U#5Q1T]P3>7DMDDX$/XG"`_G<1)]"]1YZ# MP1N?M-P@S[M"P6<[8)30;L.=E]A6X]8MVMRFKT;R)*JV+"SYK"1KDC*`%RG+ M2^`F^:$3KK\D)VV'SK?8#DM(4\&U:M(J0DK5IL<+9E/YR0=$B]`3`T8%C_T;2Q%H*"V2JS>VY+C+M[F:HG-'F^T._]SBM,< MASLT=1R7+"S;WMIV<2]G]M'%\?(O=A#8?K0(PQ.LAI^M^=-[\>K\>G>NV_;7 MQ*7L%FT+[FTK2YLD_PR!2Q\`Y`-L9X\PB%R22,2!MU@:F18-?/>[-::0MIHK M]\=5Q12NF(\=V*8"TH%131,6Y$Q$`3D;('PD/DTX+T#""V+FKP_GW$P)0R*] MSQ)EF;N;P]N(FX"YD2XK6<:ETRQOU="^B;5/01NBBE<\KLF,-9:,(%-YLS*1 M]'>OEL+BD!=+8O6,$'.%T(S"(RZ,E@.$O!U/@FX3$.'72S,(DIZ3U<>)):TD$^]# M_>83SNNC($\S;X^@3I^.[H7YY'6U/TB)VK4=K`*:;\>A9TW6,*`5=6N1H#1' MO8PMG\-4\=.F/NG&`#(-295'Y?*7RJ5>X!E;`%`0)TERXH-R9"4R+BL]=)`@ M#P56655)_&1A0R,CL_#J<)@S>S*C>^@5:O4FI_2.&'R/%'(O7!\XR//L(`1' M##]Z>F_@A>^N\"=1Z+<;!`YT7#DNG%Y!N8""=6`YI3!WE+7I8XAM]'\ MD-OIC1OGC5ODQC?#E5`LKKC-%*ZRRXT13%J(<9OM:L,1G*\2:$JP1RV[&RW: M=S:N\#_^K:N3#HK:QAUAGE\`TR@*W-M3E-9(P%')X*LO[0"0?^MQ04!I[#K2 MDP\X*@RB#FV?C%^7T^OIWY^WGM]WHN=> MSZRC![BSOUA?CM`/X27TX<&M;@\T4.5GT-E4NL=S16UK'\+E"!<>MF7R3.(7 M`+\!R2OP(GDY\()#D_Z0Y,>N'8%E$9>.NO8'",.71PTB@QZW7LY6'RVPF_X* MK%_7UG([L+O3183@6+093/19D#:I-,Z]`B^@R$K-,B@T2WERV]1S>6S!HNJ< M=?I)]K!T$?YB%*>Q1-I"$I^W6F*S1EBLI]F#VM7"\T<8W")QP59M_1.'EB,@ M65WZU^_?OLG7W?\*[%-TCP+WGYCBWR_>O'F3+#_]%?C(A^G!57)/'IVB,,)_ MN/[=>0*'7YU5$SH#E"^*`](9>CAB+?E1*"KX)Z*M%C5BTYJI>R/JA^ZBAK@) MB3(X3,YB8I!3C*M"H%#)]:(Y$IC(ID@"%D8A'2D$]7G?@GD^]B/-^%'! MJQ1M=H]"2*MYM%RB'T;N1XC;$9T:%W%.*@?"7RVR`^%#'P"743!2TD/U6+>` MI7B$>R#TF+N$T`ETXLL%9?#DMPG`[S'5T/4N#:*(?SV@`QSUYW4W,+)='SJ6 M'?@X7@R9[E9,E'P/'I&6B8A;-N!9N0WP[8+#,IGN]Z>'DT=/9\WQ%'SO#KRG MTJ`V)/>1RW!GT^8X[Q$%ICRD,0@0GYB^`>FKD;A"/2SPG)\A-/1=N#&+>>?H M`?>O@CDA3:F,8XW&0#5'3KMZ$.>);JKM6.685.=6X/?XS<#H%JL,27UA5GG' M"FFURF.3_GL^"A.O%&"FF4=_EU6V7P9" M`-GV&G9A&R5,U@':0^B$=)'.)U?,25X^#.O0=;+\MS3U<&A[$*`#?I>?P1UZ M^4(%+*B5+AD[ODVLE4W@,2#35%C2$RSC8M*8,-EJ`#%IDN,DVX?`]#'!P,<= MN\2A$Q)UT@,J+\0\?CAYZ@N19*B$>N\`=S:XR7M>A M!%0IK]("^A+N1D:JG"S>L)3EKS2\QVG/X.W-)POYV/)[SVF[G=]C2)NF? MQ&'$PS(ZCJ`"5'L,2?D(&1A*N`2F&#D?,`H@]S&8]H!BR>$R)DF80<;]]0&] MS>C7.=0'']_BJXN*"Z,<)O%(5F/JPNHY/>MNS*HWJ&SB51&:JZ,T+4%\('(, M27CET=-DVF+4B:VYPMMHPD.`M>-QR3Q2FT:@F'ST*Z:&\*@XOIA&Y$A&$G/+ MINKR9,:?X19[U']/UZ-65RL^"M+;K)V>R0!G=(VGM3'(."$C:SSG8UZ]C+/# MVY;LZ'SFZZF#&ENK,7]HM7MS91`CGOB.-6NA8#IJ1NP1V] M209NGT"1;FT_T")N_6LTBE;C9_=F,9(1A.T@:-8A:&)0S\IOUR?]`Q=KJ&&3/T-_$G6_@)5H8S\ MB*K(JP`!M=`4(]F_F+&2^G]HQ)DO"M$M\.B%X]EL.OB] M!EQ'%WUK2BAGLK7)A^EB"5Y<@8^7#,]A,-9/>,S9;4PM39VZS-'UDG%KT!1'[,CY65)0,HYV+,U^>J:6?8;#459#457`T%N^J%`R)*SR8[%,/ M#A4'/R0KP@LO=Z).T8FB5-PS<8H=.L..76`'KF\LYJ>6@K^'H*8?VR-Y_LT& M,=^,5!YJW\Q4^=N97&\\-UM])SU2CK*\XEG89M>SB#YLL[]9PQP>`[AW:6?Q MWQXD?TQ]9_I`.OA/^KSB$%18$AW(L6@Y*)5>Z04(DBWQ_8F4@$F1Z@)D=/1: M5)%R6)>@!`;41EEE,Y;AS"UT)+@S.N;U`C\R4LVM]<::+>BJ-=UAFWY<;7:+ M_S>"9>SN4,<;/GK`7;\UWMWH@29[]YT9';7NH+]W:[>3)"BCO*8[EU*[KG9# M'_0KP/TZ#K0N7RZ":&S$.)@G\WW4?N(SV"P3FKT&43686,+IK0 M+(W0W:_6K:?02<]$91@Z:'!2D$J,+)-+UPG+ZXKX-1$/4OGDM/\+T@1P_9<@ M:P7DS8QF.[13XT%]@+5:;,)\2\4:%5^%'S`:#CP+=Q`7+A&+\Z9QAPW:P9 M(/3JZH(3=`H'_+G>3DR7.SP>G2[8Q>UKNSVN>"'6.5R3Y%7Q]M-X_%^#)I'T M1Z^!GTU>PG^_\##M#DVB)'&*%"G%NGWP\+V<\?^0('*Y*2O$KSI(W/[\JK M'BEKIU*1K(FM4)UL:'P9]<\=PZSHKW$,BWLT<.WC+B#%<]"=@JK'.Q`/1]L- MR$K%ZK#P(XP$%\?ATS"$4;CP'7AP?3>"GOL('>O+WCLYKG_W`2'GL^MY%82; M$)7>=-`2I7=LT\"O,'%.4Z\;@J.9.H(GBX_KZ6)#-EO![*?IYH,%7H'%]&)!QD_6\7,) M(!9Q`7(AKZ@4\"*3`U)!0Q]:'HT%<:\-?-4VI!0B/L+@%IW=2$,O&N>FM+^W M@SN(QQHW-RB;"OIF*550C-Y2AKK@&Q]].N&NY9<-+N$!!3"FV]E?8&A]B0(; M!?@'V,'3(H(/X1*K'W.2V0UFQ;\>DCSCU=BW^Y:8EX`-MV3PPE,GW\#D/473 M'92]#66V7=9-QKR%PCU&<$O;2$\HT59(7M%".X`V=`'*38&TK3'=I.K&PCAW MJ[HTY]1-=]<@[_;55^(Z%!?45+(,/`L/0B(M(CAV'?O<=:":ZW!CUQ$1\=^< M@5EP/G-WT'/BTS@RY9P+%U`4$YM6*?332K+;-)"XM":X(5]DA3Y)3!H_'1X+!-6K.PFG M(:>]'IU$<&?[R3UH'*J%R',=^H]+.W3#U6&-<0/]*'Z47!J8PW`?N,?T)G5\ MU!)':6O,3*[_<3/!]]%6ZLBZ;4O/VOKX#IK.MN,N"EQ!IRU/BN(O0*F!"T"; M(/MKQ4;PXZ094&@G3OZ1M032IL:4;[\7YZ$M7ARO7M_V]:WM; M_`3&^68X"_`F93;-(]5D=A/CM?E='1B3W5>QXKTEIQM6MY][%NYP56U9G3/2@ MPJCE9]1[J.=,E-KC>PP%,9.(5(EES!^B+'JPSMZDVH\D"7+"T70^F"?8-6C6$5?%U9YJP`]HW44"6(; M9^.M>)N3R!J?:;?J9V>)9A5GT6J2Q%E%!XY-V^%%)M&H[,182814*M)137JS M$V^-IBM!63JWSZ$T<'A6V`<3Y^9Y#32=6F7S319+;&(6V$U_'=R>9)2(%+XV MZRPGDZ%Z%E,.'?W9P?9T&\)_G+"]6H_$:'D'!AKIDB\BH-.R@,;V]?`O$L]' M/Y]KDK\"\;L1[48WZQ))?_:R(7#)'-FBS2PFRV1N M7>X&WY,2Z@C)?='J#A*+MK@Q)*7RG@\C%S+4-");GJ%X=+F!0?^0K%2/#!QT M;FJGX2RMF'TRG76BJ>BY>W.D MKI"O6AUKCLSV)_ M/MD!G@AX3]F^Y\(_H."!=KO1:EMR)U]7F5O+>EOV5<^"U1OE6[&JK,G/-]/- MSMI<_P:N%LOILB MN-]Y766KJ1`Z<-?"5-D*NJ3 M31GN\O1S1*A36XT3KTOT!CE:^)5Y0"4$!?H1+?%VCT]^3=C>$#I0*<.IX[AD M*+.]M>TZ"S_I^);4HK_$G7>*0>XVPCU?T8L'X0;^X^2&;@2W,'AT]W`-`Q^4]ZWG;&KH?5FX(FC[JEQ3L6TK]VQF(J#OB*OPBC$ MF#<&2&NDZ&+2W@6@+;ZZ)4V6UJKP&^J`DF8O0-8P2%H&<=.@T/8W!]6/,7RE M+FJ03$1YC,W-$B)%7,]7Q"0VE15'T!.S6;?8#4EESF&QCO&.IJ2"60EVF@%1 MW,?C\C"3\/2-'U.#<6?@H9D-BAG\3>.J]U*[KW\WN,1@@ M.2AM!0$*9B@(X)X.(9RMI3:LY;*\DJPFJK0J]5(S"E9KL;&4JYR@"1[2<:C@ M/8%%&)(*6<4D1`'R\=_[^+(DF!X.A!N_P*BDX:CM/PU>VE`=2]4:L6V0F`9W M"A)JU63;P7B8,Q])33":&$#BH(>(G'&Z@TUN[$B'J#?FSG%P6I$[O,%DGJPW MUGJZF(-?5IN_6YOM7\!L]9&O./$U=#)\U9CL\76VT-KUU?-C33E1@7[ M:8JR)O/%-KYU1TY`KM;69@S6V18R2%./E7TT-2&%[31-S`YW]XACPDUDG)M' MAHRRJ76S]XZDS(S+-/J[)'R;D51R8AP\:OXUDE'`_7CTZ'S`]F9V>'_EH<^6 M)TRCI,*2F8$,BZ9)R/=*USRD6A*9BH0`;#;K];5%;H*3PX!X3+I>;6\V%EA= M@>5J^6HVW?X$%LM/UI;<#Z<']).S@^1?L]WB$SV;/[2I*4`%M5%EU02;.8OF MV`*5O=X&#\BYDSF,_[OPZ>I14KN9F;A?A26_'R[!HGM17+I7VC?&95H27AUO M%C!)J<"+E.XEV>6+%T/3,MQC*"J@A`?41E^U.^>-G*7+YV.`GN$40+U@,%][ MWR=P&T,=A.[@)BA8U37@!G?XI-15W,/"93(YQR]D%0\`'-8NK%'8RTX&!%Z+ MRD;)%B0>('(>4&`:I>6*\=-DP3+H$]LQ4T*C/0\-7:/)'09!<#Z\>(AL#\'@ M`7A?'U851YTNT=K?*&39@>_Z=^$:!NFI(G=/5^J\$PY\.(L"BES)]Y3FTK)= MQ;[IC3CRC?%-55;&)"4DAP/CLX5QD9H]O122D(^FLJ(J1E!+!9:-59(YM]-1 M@=+H6-(C-LD(LK1VX,-TL00OKE?;[4NPMC9@^]-T8X%7X'*Z7\7>);D(,^S@Q#@IR`D;"\'CSR/K ME]K)GWRPL0-ZX>4#NE.0DSNJ,_!3>A#F>"P3=L'T7*T$\WS8F=I:-Y'R*`V- M$ST7997B9RR.U'?"`L\FEAZ/_YQF^.[;B->)Q4E%ZR.TN-'L M6JKM5JKM4G:[$=3+KJ3.CH_D+N2H]W>4]W5:[>9([^)TBRC%44D\"^L06'0+ M$0=J9"S)AXA1#ARFX=5RN[`]P&0<=11&!^I^W[Y+G"]Y\LT0*==[ M\B+RCPHNA33)3^30:%F"L%T]C\H3S8<[FV.2/B;**[P8%M!BA2&I[UN&+I,T M!VQOVC<:DQL"`?%T11CLGP,,>#YL-$!06AYQT/Y$;PKQ MTLP<]@/)+D$6+&"2P?*S&]T#3'*$\=F0SREXW#CG1QE#WY\QB#AK#49`I#'H MY?G6DJ2B*W^)?"O))IJD7*M@48DGO3@IQZ-W43KNEW.C`D4:G".9$(KT@N+]UU`_0AX'M37UGZCRXODN.$T?N(TQZ6[$8 M2>KDBS52:]EM@W13(T?S3^;;:',7)PD)73DM$Z6#Q[`F)JMQI*R6LEDUL.4& M-2BH#$;%'>(*H\I:6IOI-;UO,9U_7"P7VQU):_7)RDI\/B]8]0.JXC>[QG_A MA^DC_#]DQ,1/_C]02P,$%`````@`A(1.0'/\<[#U(@``FS0"`!4`'`!T^V8[P3U3HZ%*.1-))Z//ODH%BH$L8LH,Q# M4OG7+\"K>.!(@*@B2/O%+1<3BGKZ^LWK]]]0^/UZ;??KA_"9[0)WF/">)(0O3MA]#\D M^8_7-`S27-1&\;>G.*H8?'=:UR6EX/_WOB)[SW]Z__';]]]]_.8M6;XK1>2? M`954Y/PK5M`W="GH>_Q+&WS\].G3:?[U';/>R4EAOYA&Z!ZM3OB_7^^OI!5] M.N44IP2M>1M=!T\H8C7F+-+=%OWX+L&;;82JWYYCM!+SBN*XQ8I;Z1.WTL?O MN97^U*KA%"AIBH(-,\-J]4U(-P7[LR!YOHSH:W(7Q(BDSRC%80"0.4W2%9/I MX\>/WQ;M]B<)IP&R?0XBWF0/SPBE-A*URCN28["9Y,P&2/B0,C!L&*_;U15S M'AMD(UF?B1N)'E(:_O),HR7S41>_9CC=#91.P-!%#Q@$^B$2G.,DC&B2Q>@V M7@<$_Y9[V`59?LX23%!B)9F>J1.)KS%K@"5K`L;Y`:\)7C$LDW01AC0C*1O$ M[FB$0XP&Z@"OQHE6_"_*^69H>;OE`RZSW3`-Q"R=2'M&-QN<\KZ1,/.K(:D3HZ*K&B\L;>=BI\3FSUD3PGZ-6-U7+QP1`VS7X^;$QGO4<(33P?X87HT3 MK8K8JO#\;(::XJ>(^RU6%?N87&+"`ED&QV$Z02MQHM'?LR!F4^5H5_(-HO,@ M#88I(.'II@68*'2'T&&#=3?VWK'=P M/GR`OF8_M.1";RFWV;*2C)O`,A.05UE5&M&P54_$LT$T%J8S\E3&*DB>\GQ& MEKQ?!\'VE!OF%$5I4OV2F^K]AX]E^N=/Y<\_-^9[M62+IR2-@[`.O2*>_?CQ M'824A33(K@C";[\:Y4%4!9:JJB;"O:1-(B M;BL=Q&'%E_W9@U$[QU92G&YS`+T/GW%4(W`5TPVPI:B)FDWA?SA1\3])Z8F2 M+XV7*/[QW?]\^/"!9V$9YQ5B`VN18U.HG>O,$["HF8T;%49YA@2&(SEI#T@" MT@DA2:NH+91$C&LL?72!I3^?"EW^(4>#5NYT]#'@,7C:#[-=K]_ZV/7SQ->2\,@25I9N>2F> M>B^[6-[!QFO?4L*O)-FB$*\P6I[338!)MXUU=%4[2^G&;VMABU*X;I)F;[+- M6U_.SDL$5'HPMXNNV)_2[MTCZ/;M/<'XC2WOV#(UP+VZP4#:OLHLJ%$AH6F#HTHR&"4FK M4Y@R;5BT>>TAT>,Q+V3P"03/<+)_>+KS)8CR?'YZ%L3Q#I/U/X(HZX:W1F5* M8\/*C(PD&5ZHG7">KD")8:2GK`TLX+07QB!M0."2,5/ M#*'O)NJ-\<..<"BQ#&+609<7(=Q@Z ML(X19NWJ$P-\PDMS,64ZICN^WR+?8\?F(%N>'V%&260I([-"U7(=K)"'Z00K M=77Y!2C3>64B+[.88+Z!*M](\I9OIT0G]O$O_E9[Z;-&.<:]VZN2C9]RKOU/L^(5CHE+.%@X#OO)S,6;#% M+'C$OZ%EI>L#7:6OK&U$O@9*7N13@IB9ZM:(TU8SKX3"-0H2Q,^!76VV M,7TI=LF+H*1TET?(R#);H)-J@;*6CI2IO+Z3S,WT&5TJ7L%'SFEA;^0NGR M%4=1!Q[=GTO#U3][V/@2D75MO2\VKZEI8]%6DMQ74/17NWU.V^L5T8%`R&%> M\\CS4N#B5&=Q2H@?^BS6N_JA")B^-+&>?C3DJ/!!S35M@TG`G",*P-27E+QS M?[/74^YQ^C1]G].@\14[$(U`>)$PFE>^OJ&D'!ER/$P!!0/;WFD4XL%T1-C8 M0DN-W<2Z0P:&$86Z.:>:%6Q<\,*O0>O=@B>)-$V+56LAT&*>GE:R5!MRC@G. M>EXC2$-O]3$G/6$?9-X<>#(&#C50N`TO:%4=T,W\N-0U#4AR%^SXB0KQ1D\% M104L`84/B%+LS]0K)06/8/>ED-N\<')#4Z3&B8*B-*F(PG.X\Q481.H`7C/*Y-<'3I5CGMJHLXYWFF-?B#53!`D8^@P=^`' M;/C5L5KGI*7;@T="YS]^0`H:0DC&T\%V&H]0U-#0P7$]1]SZJ81I'=P#S@Z= M&LMH)CFT9H=[?/SJ`UI8:Y$Z/?`YQ9/VO.?D$_7[Y41]JE1.VP>.@-8'#-DD M3+5J.\F9BFJ969JC=8%^*MT'H*6K3_7)Z'Q`F@(U%*ZC%%I]]L69/BG;>:56 MSU&,7YA57I#0)KW=2B#J>J^2FMI_=)GI:X@Q+?-Y>:U\^P4$9'K"YIZ5J4(+ MK*4AJE1\YY6.A6`)8N"I(N@`X#'"C55BU8>@G9+U(XHWS06QWK*SG*1>=Q:0 M3``T>LU,,2/D.+<#')*5+GGL#:57+S!.RB&9ZFP:D^O9RU`WU>A<\*!8,8F4W"(O,#<]OP"'H/=W^JC?3:VOM]'\P[L1+`$5]D>6\HZYK46#=Z" M#-Y]Z^,V8QN@66XW-L&9^;;CJ:Y=WU42YRJ++LM74-0']OL4(VYQ(DSR*E"::X$6ZSZ^JBHQ_QAVB$-6\BBTY MVZY@W7JX]5&UAM=XA7?DY\KOP0"JUJ7ILFVUKG*B:++'VF,7_\00E)&;$0BCWB MB4)0H[0+Z/6KF%],-YN#J#L8:-(R;ZNGUGJK"&$Y#)(- M=[NBDJ:K3XMF_.[8MCV%*2/I>CFOUAIJFX=V*76,]BTE_$J2+0KQ"J/E.=T$ MF'3;6$=7M;.4;ORV%K8HA>LF:?8FV[SUY>R\1$"EQW7W7OUN]^X1=/OVGF#\ MQI9W;)D:X%[=8#"OA:9[]()(U@NUNC_7VY'+G\=O['Z34JG8DF:^;C[YL"\Z MKT5N_C36[8H_PY<\T*CU2&QO^J:EK&=O[F*YZ MAQD$7ZIW+!M?/,6#7'A(^[=*S^MX^=5F&^"XFDJE`5GSR]"*]Y;V#[=&_.'6 MB[?R=E#)*Z,YK)?B*O*`DOZ>F4)<-^HC9J0LJ M'5D5@B81*K]($/10)O];@:7^="F94.EE! MI[>^!)CPN/"6[._4[N(,2%T:7T<]#;29Z6P!.&T%\]J[WE`R?QT'%QU- M^/HZB+;*DRIIIX$U$WTMD*9A/[>+7_-;W/N&Z68+U%3-:_(%5-/`%4Q'"T1) M&?N2L? M_$U7[*X9$U0 M7!&>,97KIS.3SVA%8U30/09O*+EX8Y9BJK/)>[S+D];\@0-6DJD5Y7:59&\/ M7E.=PSM<39XN0QS/N*`%_$-*,Z_W.6L3E#[F,R*HOX%)0]7"?9_*:\SJE(+C M3<#)P;FCB7EK8Z=K[#O]AI.!JFX\F=L#2MYXI$IEX7/:R0U*;U>LORW2-,9/ M6[3EV7T6+[$"T@/>&-.\?3F286Z)4:)3%AE]< M=[O*IQH](^ZSQ\+"E4&[N_X.7E&U5_!P%8W6U0[7F>@16Z;=99WKE.^*/*`N ML]NZ*U*WNTX41`ZZN35359?!6L@Z]U1/`3HS_:&FK8>:KLZT M[Q[*[D?HL`Y%K[OE5`]K,CWWYEB\!#@J-&W<&U4^(/(Y2'#8Z7R6I:NE<\/2 MGN9[AAD!=/#$M`9)ZM,J,/0`I-7C;-6MGKF6"[(\QU&6HJ4DH6E8JFP/:"E/ MP6BG-`2$8,X2\,TC&'=;XUNLLT3BF]7O=M_1?,YJ[)E^YB5]31\'F(` M2!!MR%\224SU@2")]LVQ0'$YN&5I-3REI:<%4*`1!D!47H,$I%,]JOF`N.(D M1*(SY^*/U96F[8^>(DBI`@0@709S6ZGX@@C3+^(W2BTWF&`>2?!#R>)#'4#J MZKRNAMI3S)@I";K_4,=QX@>^BVE1K;MRSZ64JC6[[5.-O+`D%]OLD6D)MZF\ M*]UX.$#PWOKH%W1/_Q&!GD?ZXXKQW]D5X\Q#\!=(T#DJ_KTB_9YV3Z/HDL:O M0=Q-L%B6WCM?H]+C(TPX@@\S`G#+N5D-OJ3));.,2_O1X/-W1T^W$BNZ&$V M$OLR'+F*GN5&SK_=YIHF%V\H#G'26Y6R+@\8C\3EYS;P0*QTT!%&(L"\+M93 M.H`!0`#GZ-AOT&O^Q63.T2L#<.#[,G-S MVC)K'-11-RKUY0;!(SAG0[!*"D&"<1,*&]<0' M%+_@T,@W"DH!O&.SU-S\H]PB!_60K6H=ON!R]%R(,0ZEQ2".SPLDFL))Y_R@ M$`36JW6``.Q--99<+/^5%0^/)(]TL5SB0J^[`"^OR%FPQ6D055LFBRMA$4ER M\S9#[7M4W".+2C,5QKM'(5V3G&,'Z4>NM7H"XDBU3M'CC],B@T>,HXGMRZM. MMH%/RNQ=[%"XH2E*[H*=<%/`("[0P$C"98K=QHW%#A\XR<1P>&/G.('4$%R# MV8`#+=^0/12>H$#,`N*68-@JEU^BOY] MJ)6.$N!T!'!PLZY'.%>Y"L=[;QSON?%[\\"!@A[?]M@,6_B?5Y\IQDC7>W!< M[[WQN]LXP[XNM#KH'ALG>VM^MWMJ6KZHL$C7:XDZD$&Q9C^!%)OL*&)N$S>C M!:A>U:E&/WT['(QV'"#^VS>(&N-,YYDM8`J50>MS#:$Z,E++,P*%QCSY2@F? MR"S>L/0@CXJV>Z9'2#O^X0OY\1Z`/N*@(^DYW02XNR"DI*GN/1'2 MC-_>RE:E,-TDS2YBG=]G(F;I8^LW+BC\&^+W"'1:7OJ]M$S_^WCWVR@;DNIU MZ=Q?(V+'6U?`9EY1M"2/)<0'B+;.2:IH_<6-B8Y`#&E8SNMPZ#U*F=IH65WS M)`22FJBTKH3(7^B`M`)B1L;+EY-G;L#RR$/F+-[)AR0%16E0$86_&-'K`P2( MD-'<#I,HKG*07.%A5*8[B5&6&3^X!:ED=MD'B/=4KOXX"Y+GRXB^)N-?\W&[ MJH71`U5*VL=GGW3\WNGV2I-Q.I:\":S[4X^E53<:LV$?0D2"&%-5CDA$TVWF M%LWXK2W/"2F4`>>"VCR\;-]2PJ\DV:(0KS!:"O-`6KJJG:5TX[>UL$4I7#=) MLS?9YJTO9^P?[9&5,&XT.M#RCJP!3`QV>,*YE7QO*/-Y(`2!V`1<=O*)E+XO*- MI8EBO+75E!]^(2&.4,LHS!:#'/CF<9,BU4NTD"*CH?N@^*16!FOC^1`"YN_% M@@2;^'ARM=D&."X24U?,I&2-V7"Z2!*4)E=DB5:8X!1%^`4M+]["*.-/"7RA M=/F*HZB#?!>LJLMD4W(&YZ+ M@_IW44#$3W"HB9K;EOM$LX4OR"C'0:U,E'EM+>FJ,E%\V>891P_&U;'X0Q"AVQ4S$C-+NN/!3GZ*8\LMVX&N M6:'J^3A8H=E"V\IHQX$Z5#09](T2?8[F:))HHKQ2A-N!DB2+4OX_'?@J::HG M5X4TLP4GQ"3'P:)$$N_NK:M'AS*&N24WE%QLMA'=(51>SR<=\0%E>@&`JLQL M<6ECLF.'!TK)1KOA]U"OU]5F*0]FR5\'-2PH?;-.6G"BB]O6IG&Q9&U2^;QR M7'W-%V%(,^87F%=`^$6P,=^DB!2^@B(>W7JBA9X0L%HSZ"X[D54KAJBH.@=; MF+Q:+1#8*'U&\5D6\\8LU@?U/E9:1.Y=^T4F#T^M&=S"4U3=W!:S)%KO1QL# M@$H*J2':+30/D*I-<0"8]BIT,,@?=D8O'P[*"W(79,E^B3-6-0Z><%3$/,4O M53S^&1&TPFE2]E+P.#^\"FU<,*"*R?PWUKW+S_VU8U1 M@WA-#/D(PR4PY<'O8Y]P+'3#4')D+.Z``9J:*L83.NL+MP4`\[J*BOQY:C4X>(2@?K6<8DQ+T5<`N?E MF]N&H%82G]@:$.3)%7+)XA0#>9QLW?"HK[`I>?6V3/AKAF/$;+/,N!F0,!4) MIB^;3$\_45R;&L(%=@%USFTYIZ?RYRQAHQW3-LF?FN!6++]T'[BR*2I#K:KH M7``,-\]!L*RLWLEY/:^`#;>:=3QM'4=/%=+6IG$!:)/*'<;;_DX1+S$)2#A@ MB@A@H(:VBL&TIHAP4PR8(BHKF=U[PN6+I'VS+J4;Y6K".KCXA*R"8*.:#:+A`G MK\JGHQGN0'65SVW[ M7'.H.*,LM(Y3?NT+-X-BY)90"L;N+N5$\0E7WO7XW:NM]J`VNQS\N%JGJ5_C M'HODX@W%(4[ZB2`38@C7^)3460-RJK-KH%FL%V"->2D68.&\)@IREP9TT0$& MRC.O/!3&\7NZDEIK:SH#F,=66<%MDN-_PBB#(9&21DE#+ME)H4_M<+VP.OQ=7<29YMCF@D3 MIW/%W<_?_NZ0UU/YX-BS.>M28.^"C#T,/V3;;93;(XBX]OP)RBNRHO&F:&[) M:Z1FI:J;G("E/$6?G=(0]($YB_%W_"O!7!VE95*@).7/W'<`)OI4'X5M?!H/ M*H9@H$J=.B"!\2X.L39YSFO/17$]V6/PQA?Y!0@1?MV?EVY]G19.5)H-@$J' M[0&/#HWPFC?/.D8TR6)T&Z\#LG^5I]J=/-HKWTUY^(V.-,++2KB[AAGJ67\0 MU<.$;-^E4YXELMSP',U=2,7G+_XE_$K7O0H5)LY1$L9X6RI97G;!PKT[5CC$ M*'ED2/P<]=?ACE*7KEFJOAKS.9H M2YSNF,8/>$WP"H[1@4[SXSA^GQ,F6)D'T):;9 M5N:E+$O7K\V8E1XM5&S+PR9&Q2.#8OGU3LT5N[T9A[$;S;G9PHV3@XOL,-%_?'\Q1YKOX:$`2)V=5MEH^,2H[WGH2 M1$R9.[,K;&(@#UR5'0CH0.NTW9*1#/DJE6'=LW%!;.*[#?#R)QK_PN1JO48U M8A>KA;A'$=]1D^_5D3L=$/F^&ZG)QW0M0LF^(,*&PTCA5(R*:>S0*S:F(X$U M++4V0L]K*"LL'06PH@,N&8T[*^-'F$:;7[#*M6&(FJB:"XB)QILY]4\M-H8> M:;[U"Q\68\ZD:DUJIW)C#":O)Y"IC]U+LV#3,>^3!E+UC[(]NKV8__5P(<(_6F-=+TIM@ MT]UIIB(I-1*2C-L*[[]%>V$ MK2ZA:35[EV9B[:Y6<4C#]S@KMEP4K!1X96XDC:W[J.*S\TV2:5Z&07:NV M&2K.LQVY,>^JS:3G+-*7M*J0IM.\;9K)M;-*Q6$-WN&L./1PI)9?,*F67+++ M*%AW6ESXK31#^]MD6EBEDEW+=C@J#A4UD<&&B\I"`75J#[/SML1'R#QIE M3+=X=XDC%'=/:"MI6HCHTDP,"6H5AR"@QUG<\I^./UDOO-<]VM*8+_OQ':29 M&`!JTO;474PZ,3B`%!XTD9=4(,OD'!T=.5K/V&"VIK$XD2.D:&&A33$Q"*C4 M&]+R';Z2!C]^[NXN>XIP>!G1H)N/EGYO-7;S^\2:6J[:D(9N<94T\S$3=:7C MV=\N]O#,[)C<9FF2!H3O11/[?D"!]@B@*C`Q9!@H/V@T4%8CP<']5.>2 M_=(-%C14G=Q@EVHRT("I.2P_V.,M`<$Q4X1MV8H,IAX&`CHA$)IT$X6"7%47 M8&AQE\"AD5\<=;/,0_:4H%\SQOWBA?UGO&V]74&DUT^HR=+JO@D)V8BW;;0E MDNV7T=))-/1@1XRV;2AY9=S'GX@8-*<>I[WNI>^D]"AGG:)?GI)HG/6-* MV)]A>9YTM4(A__GQF>_*[EB_BF,9GE+5!6)S"$'=Q MFZ+5&HA)T=%<`41*F7NP*FM@'0_Z\;9QS60;L)%T"9=FZ4\6D[KD`HF<^`D,I5]<`C0)J*&NG9[N\*_JWKR?:37=U#4.GG!47-4^:K=J"*)U1_`"S>ZE+C"N4Q'*IO0LL!):_3WP M,0:M26V4[UQ`I:VM=A>Z6N;K,_B]OOE=->V'SEAM_*!4?>'^:!ZCE$_L'<0? MJX6\]L?QLIM\1>R91@PR22$3?Z%3W_>-RU793W"YT?R`I-VHO=+MGM_FGV=" MX7SGFH+X>Q;$3*)H5U^W=QZDP6@=NR].8P%)&Q=8EB[18EIZ--^A%%3F.,P* M04SB@&)0<[YDK)F$A7QX)W[&)=UP+6C8=8*8RE$UI,FLV M7MQT`H4'=68O^24H&EGRA[6L99BQTPHIH1L@@2Q7_X?4$L#!!0` M```(`(2$3D`WYYVGP0@``)Y!```1`!P`='-T9BTR,#$Q,3(S,2YXY!EV;WT M[(ES0TF4S2E-*B(5)WVY@2A(1D.!#`#:UOWUM^"']4$*DFRG53/,BREP%]C= M'_8#X.;];T_S$#T0+FC$KAKMD],&(BR()I3-KAHCKVEX7835#GM/WN%#6;BNM)3"Y%<$_F M&$G,9T0Z>$Y$C`-RU;B7,KYLM1X?'T\DP7.88CH]":)YZ^RTW6Z?G;<;"$O) MZ3B1I!_Q>8],<1+*JT;"OB4XI%-*)B!O2.:$R36"E=>@(!.7(,;:>H_G)Q&? MP4*G[=;G6]M+)2R(I9#3O:3+R$/*OJZ1/XUY6$Q_WE*OQUB0@IQ%C"7S:H:) MY"VYB$D+B)I`13@-"KY$-&<8Q\^,4RS&*5/^(I6K>=IN+B5C9*;`VBK<18M' M(2R6D3W;"BBH1B'*P!8L>%9H0I;4*:4@P
FC!BPJAGDKVRL%H7UQZ9CQ6@<4S:-\B$85%R7A:6'9(K2>2Z5+:\:@L[C4(F; MCMUS`N@JC)L%DK_'G)R`=`6)LHK&`*G1@$7`MDM%LY<+%U-@'I1F*>D)DT0Q MX9(2L=PFK3?3*L#AH5H!2Y"$QZS4A$P/50I8**-'K%.(QX?J!"PD_*[JJ&E\ M4`"IA]'0TD3$5*)>%"0J$!ML8C))Y<("#^7S="\U$(4HI*5X7KU8?XG:AU/X MAYJHX%]]5/DFFPRMS/:^M3G%YNR)(!.7?4B?-UTYY\Y)=)P;[K(_X_J6K.;+ M1PL<7@E/!X6(CD]N^ZCN?:5L_PS1[J&+;A=$WD MW9BF[]6VU]I^@#GH>T\D!07*0*R_WH'*+_NC@GY:F_GG&J422L^6=*<6U,!S MDJ%3'M:CF`XBX?>0.S*'A6T!0XU'"HXO%?3^,'D6&P_*GWO[G M!]B_:W@WJ&^[=[7]-?:O"%E;WNF0^75'%MF&3!VY=I=>5`1A)!).7#[#C/Z1 M2@UE5B<1E!&1>]!N,AU^[0R_Y23PPQU>&X[U[S2$(<.!I#/R+,?TO,L:)0U* M-OV6T`G4K&![C\X8G<+.AKHX"*($:EDV&T0A#:`ZW\1M?T8]DF0JUG>1!#`9L1!-#G8J*&1P=/-YK/J5092(`7=5,09H15N9N.5`_5 M/TI0==W;6\O/\IMRL0RW:].I'6H78@-.8DPG=Q'_2K@`4&+"1*57:2CU>/U2 MPFLP-`>&U4-W[O!?YM#[NP)P8#I>[6&[`R`9RU*\4V-Z#-Z5PYO9\6M3ZTSM M)6-!OB6@L?F@PM2FV4OO]1!_,8>H M.QH.E5\8GF?6?J&'94@"T#9<6$)`P;MR7N$1@\>`9$76=$H"->S?J]HKQFRQ MB=[+)])'OE]+(!\ MYK`ZF@(6/X1OHIY%CC'J6;_9^KKU0ZX7S.(P6A'0(`RGD(,2L M%$\K:?10E8]IYNW`=K^8)@)_,ON6CP:VX=0A4@].`"7$G`8]`IEL0EA0JG0J M*/3`5`0^"'?NK=6%4`=)K6PO2DE"% M'N2HYW1D0.GW4%FLO'(V/=KE@M4;#09V^@5-A4K+Z]JN!]E-?4US7*>9?E&S M(/UYZ5V^RH;/:0^J']_ZE%8V]?[0-09X,@J^WD?AA'"1E2NE)H$*$CV2IP=\ M%O5NC*%YX]J]]$HR*VQ^8,3>MS:[/?.1]:[0M">4SN.(2\0J^XMW=-AF'0G>`-!4]N/N($G*^QO42.;3MPUN$2`6H M9&R14(IBI+F<:F]QM(W#.G$V>=3#2P30]3GO@TG*HGXU"SZ%RKE"I2Q%WK.> MBG'54#<&"93,*EK$:CR+*:I']/>*=UE7:=JE?3F/&)&8+RP('LIO0-9D#$E% M)DK2:QXE<4%*@:2!,+SE.)!7C2D.55,ZHV&(QZIC5,+)NH$RXG'6DG;5F)`Q ME<5H#)L^FOCI^IF6[LI_ZM&#`"^-[:B=X]!C[<@&V#;# M#[0A7FJD/:8XM@VS);[EZ7A%Y5V$KX+_^Z7='H'C4$"S/L@Y%(;+GDC5L-"- MA%SU_/W(CU17BX%;8$%Z)/MKL?R+5K']0(O\\\K*=Y3B@\OZ/:'(/[BLV.;[ M3'^DMMR[#]/(O7*UH#V<=RTL2!517A`6,AN\15386X/E]91/GF0GA(CP$D-4 M3I/9)/O/M)>R&'_EWCC,#J4;VC59*Z#?E^'(\-:+707MWAQ'@*+N?R568+@? M^9$A>(ZU@ MWX_^?Z]M=KF9W3;!SS\!4$L!`AX#%`````@`A(1.0)K_U;1J90``?7@"`!$` M&````````0```*2!`````'1S=&8M,C`Q,3$R,S$N>&UL550%``/(TSI/=7@+ M``$$)0X```0Y`0``4$L!`AX#%`````@`A(1.0*Q@7,M<#P``6ML``!4`&``` M`````0```*2!M64``'1S=&8M,C`Q,3$R,S%?8V%L+GAM;%54!0`#R-,Z3W5X M"P`!!"4.```$.0$``%!+`0(>`Q0````(`(2$3D"B,8ZN;1<``+%Y`0`5`!@` M``````$```"D@6!U``!T`L``00E#@``!#D!``!02P$"'@,4````"`"$A$Y`>%&#%^E5``"6Z00`%0`8 M```````!````I($&UL550%``/(TSI/ M=7@+``$$)0X```0Y`0``4$L!`AX#%`````@`A(1.0'/\<[#U(@``FS0"`!4` M&````````0```*2!5.,``'1S=&8M,C`Q,3$R,S%?<')E+GAM;%54!0`#R-,Z M3W5X"P`!!"4.```$.0$``%!+`0(>`Q0````(`(2$3D`WYYVGP0@``)Y!```1 M`!@```````$```"D@9@&`0!T XML 21 R3.htm IDEA: XBRL DOCUMENT v2.4.0.6

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)
In Thousands, except Per Share data, unless otherwise specified

Dec. 31, 2011

Sep. 30, 2011

CONSOLIDATED BALANCE SHEETS

Accounts receivable, allowance for doubtful accounts (in dollars) $ 0 $ 0

Preferred stock, par value (in dollars per share) $ 0.10 $ 0.10

Preferred stock, authorized shares 5,000 5,000

Preferred stock, issued shares 0 0

Preferred stock, outstanding shares 0 0

Common stock, par value (in dollars per share) $ 0.001 $ 0.001

Common stock, authorized shares 40,000 40,000

Common stock, issued shares 6,077 6,023

Common stock, outstanding shares 6,075 6,021

Treasury stock, shares 2 2

X

- Definition

A valuation allowance for trade and other receivables due to an Entity within one year (or the normal operating cycle, whichever is longer) that are expected to be uncollectible.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 4

-Article 5

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 310

-SubTopic 10

-Section 50

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=6965416&loc=d3e5074-111524

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.4)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition

Face amount or stated value of common stock per share; generally not indicative of the fair market value per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 30

-Article 5

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

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 129

-Paragraph 4

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.29)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_CommonStockParOrStatedValuePerShare

Namespace Prefix: us-gaap_

Data Type: num:perShareItemType

Balance Type: na

Period Type: instant

X

- Definition

The maximum number of common shares permitted to be issued by an entity's charter and bylaws.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 30

-Article 5

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.29)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_CommonStockSharesAuthorized

Namespace Prefix: us-gaap_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: instant

X

- Definition

Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 30

-Article 5

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.29)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_CommonStockSharesIssued

Namespace Prefix: us-gaap_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: instant

X

- Definition

Total number of shares of common stock held by shareholders. May be all or portion of the number of common shares authorized. These shares represent the ownership interest of the common shareholders. Shares outstanding equals shares issued minus shares held in treasury and other adjustments, if any.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.3-04)

-URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187085-122770

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644

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

-Publisher AICPA

-Name Accounting Principles Board Opinion (APB)

-Number 12

-Paragraph 10

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.29)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Article 3

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 30

-Article 5

+ Details

Name: us-gaap_CommonStockSharesOutstanding

Namespace Prefix: us-gaap_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: instant

X

- Definition

Face amount or stated value per share of nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer); generally not indicative of the fair market value per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.28)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

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

-Publisher AICPA

-Name Accounting Principles Board Opinion (APB)

-Number 12

-Paragraph 10

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 5

-Section 02

-Paragraph 29

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

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 129

-Paragraph 2, 3, 4, 5, 6, 7, 8

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Name: us-gaap_PreferredStockParOrStatedValuePerShare

Namespace Prefix: us-gaap_

Data Type: num:perShareItemType

Balance Type: na

Period Type: instant

X

- Definition

The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 5

-Section 02

-Paragraph 29

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

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 129

-Paragraph 2, 3, 4, 5, 6, 7, 8

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.28)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_PreferredStockSharesAuthorized

Namespace Prefix: us-gaap_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: instant

X

- Definition

Total number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased, and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 5

-Section 02

-Paragraph 29

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.28)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_PreferredStockSharesIssued

Namespace Prefix: us-gaap_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: instant

X

- Definition

Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 5

-Section 02

-Paragraph 29

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.28)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_PreferredStockSharesOutstanding

Namespace Prefix: us-gaap_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: instant

X

- Details

Name: us-gaap_StatementOfFinancialPositionAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

Number of common and preferred shares that were previously issued and that were repurchased by the issuing entity and held in treasury on the financial statement date. This stock has no voting rights and receives no dividends.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 29, 30

-Article 5

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.28,29)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_TreasuryStockShares

Namespace Prefix: us-gaap_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: instant

XML 22 R1.htm IDEA: XBRL DOCUMENT v2.4.0.6

Document and Entity Information
3 Months Ended

Dec. 31, 2011

Feb. 09, 2011

Document and Entity Information

Entity Registrant Name TEAMSTAFF INC

Entity Central Index Key 0000785557

Document Type 10-Q

Document Period End Date Dec. 31, 2011

Amendment Flag false

Current Fiscal Year End Date --09-30

Entity Current Reporting Status Yes

Entity Filer Category Smaller Reporting Company

Entity Common Stock, Shares Outstanding 6,074,933

Document Fiscal Year Focus 2012

Document Fiscal Period Focus Q1

X

- Definition

If the value is true, then the document as an amendment to previously-filed/accepted document.

+ References

No definition available.

+ Details

Name: dei_AmendmentFlag

Namespace Prefix: dei_

Data Type: xbrli:booleanItemType

Balance Type: na

Period Type: duration

X

- Definition

End date of current fiscal year in the format --MM-DD.

+ References

No definition available.

+ Details

Name: dei_CurrentFiscalYearEndDate

Namespace Prefix: dei_

Data Type: xbrli:gMonthDayItemType

Balance Type: na

Period Type: duration

X

- Definition

This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY.

+ References

No definition available.

+ Details

Name: dei_DocumentFiscalPeriodFocus

Namespace Prefix: dei_

Data Type: dei:fiscalPeriodItemType

Balance Type: na

Period Type: duration

X

- Definition

This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.

+ References

No definition available.

+ Details

Name: dei_DocumentFiscalYearFocus

Namespace Prefix: dei_

Data Type: xbrli:gYearItemType

Balance Type: na

Period Type: duration

X

- Definition

The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.

+ References

No definition available.

+ Details

Name: dei_DocumentPeriodEndDate

Namespace Prefix: dei_

Data Type: xbrli:dateItemType

Balance Type: na

Period Type: duration

X

- Definition

The type of document being provided (such as 10-K, 10-Q, N-1A, etc). The document type is limited to the same value as the supporting SEC submission type, minus any "/A" suffix. The acceptable values are as follows: S-1, S-3, S-4, S-11, F-1, F-3, F-4, F-9, F-10, 6-K, 8-K, 10, 10-K, 10-Q, 20-F, 40-F, N-1A, 485BPOS, 497, NCSR, N-CSR, N-CSRS, N-Q, 10-KT, 10-QT, 20-FT, and Other.

+ References

No definition available.

+ Details

Name: dei_DocumentType

Namespace Prefix: dei_

Data Type: dei:submissionTypeItemType

Balance Type: na

Period Type: duration

X

- Definition

A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation 12B

-Number 240

-Section 12b

-Subsection 1

+ Details

Name: dei_EntityCentralIndexKey

Namespace Prefix: dei_

Data Type: dei:centralIndexKeyItemType

Balance Type: na

Period Type: duration

X

- Definition

Indicate number of shares outstanding of each of registrant's classes of common stock, as of latest practicable date. Where multiple classes exist define each class by adding class of stock items such as Common Class A [Member], Common Class B [Member] onto the Instrument [Domain] of the Entity Listings, Instrument

+ References

No definition available.

+ Details

Name: dei_EntityCommonStockSharesOutstanding

Namespace Prefix: dei_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: instant

X

- Definition

Indicate "Yes" or "No" whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure.

+ References

No definition available.

+ Details

Name: dei_EntityCurrentReportingStatus

Namespace Prefix: dei_

Data Type: dei:yesNoItemType

Balance Type: na

Period Type: duration

X

- Definition

Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, or (4) Smaller Reporting Company. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.

+ References

No definition available.

+ Details

Name: dei_EntityFilerCategory

Namespace Prefix: dei_

Data Type: dei:filerCategoryItemType

Balance Type: na

Period Type: duration

X

- Definition

The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation 12B

-Number 240

-Section 12b

-Subsection 1

+ Details

Name: dei_EntityRegistrantName

Namespace Prefix: dei_

Data Type: xbrli:normalizedStringItemType

Balance Type: na

Period Type: duration

X

- Details

Name: tstf_DocumentAndEntityInformationAbstract

Namespace Prefix: tstf_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

XML 23 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6

CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended

Dec. 31, 2011

Dec. 31, 2010

REVENUES $ 11,495 $ 10,575

DIRECT EXPENSES 9,928 9,257

GROSS PROFIT 1,567 1,318

GENERAL AND ADMINISTRATIVE EXPENSES 1,754 1,562

DEPRECIATION AND AMORTIZATION 23 31

Loss from operations (210) (275)

OTHER INCOME (EXPENSE)

Interest income 1

Interest expense (77) (45)

Amortization of deferred financing costs (46)

Change in fair value of financial instruments (56)

Other income, net 1

Legal expense related to pre-acquisition activity of acquired company (19)

Total other income (expenses) (179) (62)

Loss from continuing operations before income taxes (389) (337)

INCOME TAX EXPENSE 0

Loss from continuing operations (389) (337)

NET LOSS $ (389) $ (337)

NET GAIN (LOSS) PER SHARE - BASIC AND DILUTED

Loss from continuing operations (in dollars per share) $ (0.06) $ (0.07)

Gain (loss) from discontinued operation (in dollars per share) $ 0

Net loss per share (in dollars per share) $ (0.06) $ (0.07)

WEIGHTED AVERAGE BASIC SHARES OUTSTANDING (in shares) 6,070 5,117

WEIGHTED AVERAGE DILUTED SHARES OUTSTANDING (in shares) 6,070 5,117

X

- Definition

Represents the amount of expense paid during the period for legal costs incurred in relation to the pre-acquisition activity of acquired company, including arbitration and mediation proceedings.

+ References

No definition available.

+ Details

Name: tstf_LegalExpenseRelatedToPreAcquisitionActivityOfAcquiredCompany

Namespace Prefix: tstf_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

The component of interest expense comprised of the periodic charge against earnings over the life of the financing arrangement to which such costs relate. Alternate captions include Noncash Interest Expense.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.8)

-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

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

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 5

-Section 03

-Paragraph 8

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

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Paragraph 8

-Article 9

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

+ Details

Name: us-gaap_AmortizationOfFinancingCosts

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

The amount of expense recognized in the current period that reflects the allocation of the costs of intangible assets over the expected benefit period of such assets. This element applies only to intangible assets used in the production of goods.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 28

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.2(a))

-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

+ Details

Name: us-gaap_CostOfGoodsSoldAmortization

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

+ Details

Name: us-gaap_DepreciationDepletionAndAmortization

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

No definition available.

+ Details

Name: us-gaap_EarningsPerShareBasicAndDiluted

Namespace Prefix: us-gaap_

Data Type: num:perShareItemType

Balance Type: na

Period Type: duration

X

- Details

Name: us-gaap_EarningsPerShareBasicAndDilutedAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.4)

-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

+ Details

Name: us-gaap_GeneralAndAdministrativeExpense

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.1,2)

-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

+ Details

Name: us-gaap_GrossProfit

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

This element represents the income or loss from continuing operations attributable to the parent which may also be defined as revenue less expenses and taxes from ongoing operations before extraordinary items but after deduction of those portions of income or loss from continuing operations that are allocable to noncontrolling interests, if any.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 50

-Paragraph 1

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

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

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 29

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 810

-SubTopic 10

-Section 45

-Paragraph 18

-URI http://asc.fasb.org/extlink&oid=6921628&loc=SL4613673-111683

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 28

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 51

-Paragraph 38

-Subparagraph b(1)

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.13)

-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

+ Details

Name: us-gaap_IncomeLossFromContinuingOperations

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 5

-Section 03

-Paragraph 10

+ Details

Name: us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The amount of net income (loss) from continuing operations per each basic and diluted share of common stock or unit when the per share amount is the same for both basic and diluted shares.

+ References

No definition available.

+ Details

Name: us-gaap_IncomeLossFromContinuingOperationsPerBasicAndDilutedShare

Namespace Prefix: us-gaap_

Data Type: num:perShareItemType

Balance Type: na

Period Type: duration

X

- Definition

The amount of income (loss) derived from discontinued operations during the period, net of related tax effect, per each basic and diluted share of common stock or unit when the per share amount is the same for both basic and diluted shares.

+ References

No definition available.

+ Details

Name: us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare

Namespace Prefix: us-gaap_

Data Type: num:perShareItemType

Balance Type: na

Period Type: duration

X

- Definition

The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Income Tax Expense (or Benefit)

-URI http://asc.fasb.org/extlink&oid=6515339

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 9

-Subparagraph (a),(b)

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

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

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 08

-Paragraph h

-Article 4

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

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 109

-Paragraph 45

-Subparagraph a, b

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(h))

-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

+ Details

Name: us-gaap_IncomeTaxExpenseBenefit

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

The cost of borrowed funds accounted for as interest that was charged against earnings during the period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 835

-SubTopic 20

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6450988&loc=d3e26243-108391

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 942

-SubTopic 225

-Section S99

-Paragraph 1

-Subparagraph (SX 210.9-04.9)

-URI http://asc.fasb.org/extlink&oid=6879574&loc=d3e536633-122882

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

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 34

-Paragraph 21

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Paragraph 9

-Article 9

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher OTS

-Name Federal Regulation (FR)

-Number Title 12

-Chapter V

-Section 563c.102

-Paragraph 9

-Subsection II

-LegacyDoc This is a non-GAAP reference that was included in the 2009 taxonomy. It will be removed from future versions of this taxonomy.

+ Details

Name: us-gaap_InterestExpense

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

Income derived from investments in debt securities and on cash and cash equivalents the earnings of which reflect the time value of money or transactions in which the payments are for the use or forbearance of money.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 5

-Section 03

-Paragraph 7

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

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 115

-Paragraph 14

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.7(b))

-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

+ Details

Name: us-gaap_InvestmentIncomeInterest

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

Net income after adjustments for dividends on preferred stock (declared in the period) and/or cumulative preferred stock (accumulated for the period).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 128

-Paragraph 9

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 45

-Paragraph 11

-URI http://asc.fasb.org/extlink&oid=6920599&loc=d3e1377-109256

+ Details

Name: us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 5

-Section 03

-Paragraph 7

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.7)

-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

+ Details

Name: us-gaap_NonoperatingIncomeExpense

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Details

Name: us-gaap_NonoperatingIncomeExpenseAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

The net result for the period of deducting operating expenses from operating revenues.

+ References

No definition available.

+ Details

Name: us-gaap_OperatingIncomeLoss

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The aggregate amount of other income amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) profits on securities (net of losses), and (d) miscellaneous other income items.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 5

-Section 03

-Paragraph 7

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

-Publisher AICPA

-Name Audit and Accounting Guide (AAG)

-Number AAG-BRD

-Chapter 4

-Paragraph 80

-Subparagraph Exhibit 4-4

-IssueDate 2006-05-01

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.7)

-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

+ Details

Name: us-gaap_OtherNonoperatingIncome

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 5

-Section 03

-Paragraph 1

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.1)

-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

+ Details

Name: us-gaap_Revenues

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The net change in the difference between the fair value and the carrying value, or in the comparative fair values, of derivative instruments, including options, swaps, futures, and forward contracts, held at each balance sheet date, that was included in earnings for the period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 28

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

+ Details

Name: us-gaap_UnrealizedGainLossOnDerivatives

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 45

-Paragraph 16

-URI http://asc.fasb.org/extlink&oid=6920599&loc=d3e1505-109256

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

-Publisher FASB

-Name Emerging Issues Task Force (EITF)

-Number 07-4

-Paragraph 4

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 128

-Paragraph 40

-Subparagraph a

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 128

-Paragraph 8

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 50

-Paragraph 1

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

+ Details

Name: us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding

Namespace Prefix: us-gaap_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: duration

X

- Definition

Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 50

-Paragraph 1

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 45

-Paragraph 10

-URI http://asc.fasb.org/extlink&oid=6920599&loc=d3e1448-109256

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

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 128

-Paragraph 171

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Weighted-Average Number of Common Shares Outstanding

-URI http://asc.fasb.org/extlink&oid=6528421

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 128

-Paragraph 40

-Subparagraph a

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 128

-Paragraph 8

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Emerging Issues Task Force (EITF)

-Number 07-4

-Paragraph 4

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Name: us-gaap_WeightedAverageNumberOfSharesOutstandingBasic

Namespace Prefix: us-gaap_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: duration

XML 24 R12.htm IDEA: XBRL DOCUMENT v2.4.0.6

EQUITY AND CONVERTIBLE DEBENTURES FINANCING
3 Months Ended

Dec. 31, 2011

EQUITY AND CONVERTIBLE DEBENTURES FINANCING

EQUITY AND CONVERTIBLE DEBENTURES FINANCING

(7) EQUITY AND CONVERTIBLE DEBENTURES FINANCING

On March 31, 2011, the Company entered into a Securities Purchase Agreement (the “Purchase Agreement”) with a limited number of accredited investors pursuant to which the Company sold an aggregate of $225,000 for 459,181 shares of its Common Stock to such persons in a private transaction (the “Equity Investment”). The purchasers participating in the transaction are members of the Company’s Board of Directors and management team (the “Purchasers”). The transaction closed on March 31, 2011. Of this amount, the Company received $150,000 in total cash proceeds for the purchase of the shares of Common Stock and three of the purchasers agreed with the Company to pay the purchase price for the shares of Common Stock by granting an offsetting credit to the Company for an amount equal to the purchase price and authorizing the Company to apply such credit against any obligation of the Company to such person within twelve months of the closing date, except for base salary. The shares to which the credit relates are to be held by the Company until the credit is applied and will be cancelled upon the one-year anniversary to the extent the credit is not applied. The aggregate amount of such credits totaled $75,000. As of the three months ended December 31, 2011, $5,308 of such rights of offset were exercised by the Company in respect of 11,056 shares. The Company has used these cash proceeds for general working capital. The value ascribed to the Equity Investment was based on the fair value of the Company’s stock on March 31, 2011. On May 18, 2011, the Company issued 51,020 shares of Common Stock to its counsel in connection with an arrangement to cancel $25,000 of outstanding fees.

On June 1, 2011, the Company entered into a debenture purchase agreement (the “Debenture Purchase Agreement”) with entities affiliated with Wynnefield Capital, Inc. (the “Debenture Purchasers”), providing for a standby commitment pursuant to which the Debenture Purchasers agreed to purchase convertible debentures (the “Convertible Debentures”) in an aggregate principal amount of up to $350,000 (the “Total Commitment Amount”). In addition, the Company issued the Debenture Purchasers warrants to purchase an aggregate of 53,846 shares of common stock (the “Warrants”) in consideration of their agreement to provide the Total Commitment Amount. On July 28, 2011, the Company drew down the entire amount of the Total Commitment amount available under the Debenture Purchase Agreement, of which $200,000 was used for the initial payments under the Debenture Purchase Agreement relating to the settlement with the former owners of RS Staffing, and on such date the Company issued the Convertible Debentures in the aggregate principal amount of $350,000 to the Debenture Purchasers, and received such funds.

The Convertible Debentures will mature on the 27-month anniversary of issuance and bear interest at the rate of the greater of the prime rate plus 5%, or 10% per annum, payable at maturity or upon redemption of such Convertible Debentures. The interest rate at December 31, 2011 was 10%. The Convertible Debentures are convertible into shares of the Company’s common stock at an initial conversion price of $1.30 per share, which was in excess of the fair market value of the Company’s common stock at that date. The initial conversion rate is subject to adjustment to account for certain customary events and also includes weighted-average anti-dilution protection for future issuances by the Company, subject to certain exclusions. The Company can also redeem the outstanding Convertible Debentures at any time at 120% of the remaining principal amount, plus accrued but unpaid interest. The Warrants are exercisable for five years at an initial exercise price equal to $1.00. The initial exercise price of the Warrants is subject to adjustment for certain customary events and includes weighted average anti-dilution protection for future issuances by the Company, subject to certain exclusions. In connection with the parties’ entry into the Debenture Purchase Agreement, the Company, DLH Solutions, the Debenture Purchasers and Presidential Financial Corporation entered into subordination agreements concerning the terms of the subordination of the Convertible Debentures to the secured loan facility provided by Presidential Financial Corporation. Under the subordination agreements, the Company may not make payments to the Debenture Purchasers under the Convertible Debentures unless before and following such payments, no “Event of Default” exists under the secured loan facility.

The Debenture Purchasers are entities affiliated with Wynnefield Capital, Inc., the Company’s largest shareholder. Mr. Peter Black, a member of the Company’s Board of Directors, is an employee of Wynnefield Capital. The Convertible Debentures and Warrants will be restricted securities issued in reliance upon the exemption from registration provided by Section 4(2) of the Securities Act of 1933, as amended (the “Securities Act”).

Direct costs associated with the Debenture Purchase Agreement totaled $31,000. These costs have been and will be capitalized as deferred financing costs and amortized over the period that such debentures are outstanding or the Debenture Agreement is effective. In addition, an initial value of $42,000 was ascribed to the warrants and it was determined that at July 28, 2011, because of appreciation in the Company’s stock price, the embedded conversion feature included in the Convertible Debentures had a fair value of $289,000 at the time of issuance of the Convertible Debentures; such amount is also being expensed over the life of the Convertible Debentures and the unamortized amounts have been deducted from the value of the Convertible Debentures as noted below.

At December 31, 2011, there were 53,846 warrants outstanding and the Debenture Purchasers have the right to convert the principal amount of the Convertible Debentures into 269,230 shares of common stock under the terms of the conversion feature embedded in the Convertible Debentures. Because the warrants and the conversion feature embedded in the Convertible Debenture have a weighted average anti-dilution feature that in certain circumstances could provide the holders with protection against changes in the market value of the Company’s common stock, they are required under applicable accounting standards to be recorded at fair value as of the balance sheet date. At December 31 and September 30, 2011, the Company evaluated the fair value of the Warrants and the embedded conversion feature of the Convertible Debentures using a binomial valuation model and recorded expense of $56,000 for the three months ended December 31, 2011 to reflect the net difference between their carrying values at September 30, 2011 and their fair values as of December 31, 2011 using the closing stock price as of December 31, 2011 for a total value of $238,000.

The payment of the entire $350,000 principal amount of the Convertible Debentures is contractually due in the fiscal year ending September 30, 2014. The Company has evaluated the likelihood of satisfying the liability associated with the financial instruments in fiscal 2012 and has concluded that the classification of this liability is non- current at December 31, 2011.

X

- Details

Name: us-gaap_EquityAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Article 3

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

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 29, 30, 31

-Article 5

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 310

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SAB TOPIC 4.E)

-URI http://asc.fasb.org/extlink&oid=6228006&loc=d3e74512-122707

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section S99

-Paragraph 4

-Subparagraph (SAB TOPIC 4.C)

-URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187143-122770

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 129

-Paragraph 2, 3, 4, 5, 6, 7, 8

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Preferred Stock

-URI http://asc.fasb.org/extlink&oid=6521494

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 5

-Paragraph 15

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 08

-Article 4

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.3-04)

-URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187085-122770

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Staff Accounting Bulletin (SAB)

-Number Topic 4

-Section C

Reference 12: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 5

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644

Reference 13: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.29-31)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 14: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 4

-Section 08

-Paragraph d

Reference 15: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Staff Accounting Bulletin (SAB)

-Number Topic 4

-Section E

Reference 16: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 30

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656

Reference 17: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 18: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(d),(e))

-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 19: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Research Bulletin (ARB)

-Number 43

-Chapter 1

-Section B

-Paragraph 7, 11A

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 20: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644

Reference 21: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Principles Board Opinion (APB)

-Number 12

-Paragraph 10

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 22: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 6

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 23: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 11

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644

+ Details

Name: us-gaap_StockholdersEquityNoteDisclosureTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 25 R11.htm IDEA: XBRL DOCUMENT v2.4.0.6

DEBT:
3 Months Ended

Dec. 31, 2011

DEBT:

DEBT:

(6) DEBT:

Loan Facility

On July 29, 2010, DLH Solutions entered into a Loan and Security Agreement (the “Loan Agreement”) with Presidential Financial Corporation (the “Lender”). Under the Loan Agreement, the Lender agreed to provide a two (2) year loan and security facility to DLH Solutions in an aggregate amount of up to $1.5 million, upon the further terms and subject to the conditions of the Loan Agreement. In November, 2010, the Lender agreed by means of an amendment to the Loan Agreement to increase the maximum amount available under the facility from $1.5 million to $2.5 million and on February 9, 2011, we entered into a further amendment to the Loan Agreement pursuant to which the Lender agreed to further increase our maximum availability under the Loan Agreement from $2.5 million to $3.0 million and to provide an unbilled receivable facility within the limits of the Loan Agreement. An interest rate premium of 2% is payable in respect of any advances secured by unbilled accounts receivable, which are subject to a sub-facility limit of $500,000 and an advance rate of 75%. The loan is secured by a security interest and lien on all of DLH Solutions’ cash accounts, account deposits, letters of credit and investment property, chattel paper, furniture, fixtures and equipment, instruments, investment property, general intangibles, deposit accounts, inventory, other property, all proceeds and products of the foregoing (including proceeds of any insurance policies and claims against third parties for loss of any of the foregoing) and all books and records related thereto. DLH Solutions’ ability to request loan advances under the Loan Agreement is subject to (i) computation of DLH Solutions’ advance availability limit based on “eligible accounts receivables” (as defined in the Loan Agreement) multiplied by the “Accounts Advance Rate” established by the Lender which initially shall be 85% and may be increased or decreased by the Lender in exercise of its discretion; and (ii) compliance with the covenants and conditions of the loan. The loan was originally for a term of 24 months and after giving effect to the February 2011 amendment, which also extended the term of the Loan Agreement by 12 months, will mature on July 29, 2013.

Interest on the loan initially accrued on the daily unpaid balance of the loan advances secured by billed receivables at the greater of one point ninety-five percent (1.95%) above the Prime Rate (as published in effect in The Wall Street Journal from time to time) or at the rate of three point two-five percent (3.25%) per annum. However, pursuant to the February 2011 amendment, the Company agreed with the Lender to adjust the rate of interest chargeable under the Loan and Security Agreement to be the greater of (a) 3.25% or (b) (i) 1.95% above the Wall Street Journal Prime rate on the accounts receivable portion of the credit line and (ii) 3.95% above the Wall Street Journal Prime rate on the unbilled accounts portion. The interest rate at December 31, 2011 and 2010 was 5.2%. In addition, DLH Solutions will pay certain other related fees and expense reimbursements including a monthly service charge of 0.65% based on the average daily loan balance which shall accrue daily and be due and payable on the last day of each month so long as the Loan Agreement is outstanding. The interest rate in effect at December 31, 2011 and 2010 was 5.2% and 5.5%, respectively. At December 31, 2011, the amount of the unused availability under the line was $438,000. The amount outstanding as of December 31, 2011 was $1,832,000.

The Loan Agreement requires compliance with customary covenants and contains restrictions on the Company’s ability to engage in certain transactions. Among other matters, under the loan agreement we may not, without consent of the Lender, (i) merge or consolidate with another entity, form any new subsidiary or acquire any interest in a third party; (ii) acquire any assets except in the ordinary course of business; (iii) enter into any transaction outside the ordinary course of business; (iv) sell or transfer collateral; (v) make any loans to, or investments in, any affiliate or enter into any transaction with an affiliate other than on an arms-length basis; (vi) incur any debt outside the ordinary course of business; (vii) pay or declare any dividends or other distributions; or (viii) redeem, retire or purchase any of our equity interests exceeding $50,000. In addition, the Loan Agreement requires DLH Solutions to maintain a minimum tangible net worth of at least $1,000,000 on a trailing 12-month basis. Further, without the consent of the Lender, the Company is also restricted from making any payments in respect of other outstanding indebtedness. The Lender may terminate the Loan Agreement at any time upon 60 days written notice after February 29, 2012, which date has subsequently been amended to December 31, 2012 and the Loan Agreement provides for customary events of default following which the Lender may, at its option, terminate the loan agreement and accelerate the repayment of any amount outstanding. The defined events of default include, among other things, a material adverse change in the Company’s circumstances, or if the Lender deems itself insecure in the ability of the Company to repay its obligations, or as to the sufficiency of the collateral.

As part of the February 2011 amendment, the Lender agreed to waive the Company’s non-compliance with the covenant under the Loan Agreement to furnish them with a copy of DLH Solutions’ financial statements within 90 days after the end of its fiscal year. In addition to granting this waiver, the Lender also agreed to modify this covenant to require that the Company provide them, within 90 days after the end of each fiscal year, audited consolidated financial statements of the Company and its subsidiaries as of the end of such fiscal year and, in addition, at the same time, furnish consolidating income statement and balance sheet schedules, including a reconciliation with DLH Solutions’ financial information.

The Company has concurrently executed a Corporate Guaranty Agreement with Lender pursuant to which it has guaranteed all of the obligations of DLH Solutions under the Loan Agreement.

Notes Payable

TeamStaff, Inc. and DLH Solutions entered into a settlement agreement dated as of July 22, 2011 (the “Agreement”) with Roger Staggs and E. Barry Durham, the former principals of RS Staffing Services, Inc. (together, the “Sellers”). The Sellers are the holders of certain promissory notes issued by TeamStaff, Inc. in the aggregate principal amount of $1,500,000 (the “Notes”). The claims resolved by the Settlement Agreement concerned TeamStaff’s claim of indemnification of approximately $1,800,000 arising out of the acquisition by TeamStaff, Inc. of RS Staffing Services, Inc. in June 2005 and certain counterclaims by the Sellers against TeamStaff, including payment under the Notes. Pursuant to the Agreement, the Company paid $200,000 in cash to the Sellers, and issued them an aggregate of 300,000 shares of common stock of TeamStaff, Inc., valued at $795,000, the fair value of the stock at July 22, 2011. The Company also agreed to permit the Sellers to resell an aggregate of 201,724 other shares of common stock of TeamStaff, Inc. which were held by them, and against which the Company had previously placed a stop order to prevent their resale. The Sellers agreed to orderly sale limitations with respect to their ability to resell all their shares of common stock of TeamStaff, Inc. In accordance with these limits, during the 90 day period commencing on the effective date of the Agreement, neither Seller was permitted to resell in excess of 33,000 shares of TeamStaff common stock previously held by them during any 30 day period without the consent of TeamStaff. With respect to the new shares of TeamStaff common stock issued pursuant to the Agreement, commencing on the six month anniversary of the effective date of the Agreement, neither will resell in excess of 25,000 shares during any 30 day period without the consent of TeamStaff. In addition, TeamStaff provided guarantees to the Sellers that the net proceeds to be received by them from the resale of all of the shares of common stock of TeamStaff, Inc. sold by them pursuant to the Agreement would not be less than certain minimum guarantees. With respect to the shares of common stock of TeamStaff, Inc. owned by them prior to the effective date of the Agreement (the “Old TeamStaff Shares”), TeamStaff guaranteed to each Seller net proceeds of $100,000, and with respect to the shares of common stock of TeamStaff, Inc. issued under the Agreement (the “New TeamStaff Shares”), TeamStaff guaranteed net proceeds of $375,000 to each. The guarantees in respect of the Old TeamStaff Shares were satisfied in full as of December 31, 2011.

The payments of all amounts under the Agreement are secured by the Notes. Upon receipt by the Sellers of: (i) the payment of $200,000 made by TeamStaff and (ii) the proceeds realized from the sale of the Old TeamStaff Shares and New TeamStaff Shares, or the guarantees, the Notes shall be deemed satisfied in full. In addition, the parties agreed to release each other from any further claims that either may have against the other, except to enforce the Agreement. At December 31 2011, the maximum remaining contingent liability under the agreement could potentially reach $750,000.

The remaining liability under the Agreement does not accrue interest. The Company has evaluated the status of the Agreement, including the amount of consideration that is contingently owed to the Sellers, as well as the uncertainties inherent in predicting future market conditions and whether the Sellers are able to realize sufficient proceeds on sales of New TeamStaff Shares to satisfy the Company’s guarantee. Based on such analysis, the Company has concluded at December 31, 2011 that the $711,000 recorded obligation (which approximated the maximum amount of the guarantee) remaining after issuance of the 300,000 New TeamStaff Shares at a total fair value of $795,000 and the cash payment of $200,000 is reasonable. Although no assurances can be given, should the Sellers be able to individually realize proceeds through future sales of New TeamStaff Shares, the Company may reduce the recorded liability in future periods and recognize a gain. There was no gain recognized in the three months ended December 31, 2011.

The Company did not recognized expenses related to legal representation and costs incurred in connection with the investigation and settlement in the three months ended December 31, 2011.

X

- Definition

The entire disclosure for debt and capital lease obligations can be reported. Information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. Also includes descriptions and amounts of capital leasing arrangements that consist of direct financing, sales type and leveraged leases. Disclosure may include the effect on the balance sheet and the income statement resulting from a change in lease classification for leases that at inception would have been classified differently had guidance been in effect at the inception of the original lease.

+ References

No definition available.

+ Details

Name: us-gaap_DebtAndCapitalLeasesDisclosuresTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

X

- Details

Name: us-gaap_DebtDisclosureAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

XML 26 R13.htm IDEA: XBRL DOCUMENT v2.4.0.6

Recently Issued Accounting Pronouncements Affecting the Company
3 Months Ended

Dec. 31, 2011

Recently Issued Accounting Pronouncements Affecting the Company

Recently Issued Accounting Pronouncements Affecting the Company

(8) Recently Issued Accounting Pronouncements Affecting the Company

In May 2011, the FASB amended existing guidance on fair value measurements to clarify certain disclosure requirements and improve consistency with international reporting standards. This amendment is to be applied prospectively and is effective for the Company’s fiscal quarter ending March 31, 2012. The Company, at present, does not expect its adoption to have a material effect on prospective financial statements.

The FASB amended existing guidance on reporting comprehensive income in June 2011 to require entities to present the total of comprehensive income, the components of net income, and the components of other comprehensive income either in a single continuous statement of comprehensive income or in two separate but consecutive statements. The amendment does not change the items that must be reported in other comprehensive income or when an item of other comprehensive income must be reclassified to net income under current accounting principles generally accepted in the United States of America. This guidance is effective for the Company’s fiscal quarter ending March 31, 2012. The Company, at present, does not expect its adoption to have a material effect on prospective financial statements.

In August 2011, the FASB approved a revised accounting standard to simplify the testing of goodwill for impairment. The guidance permits an entity to first assess defined qualitative factors in determining whether it is necessary to perform the goodwill impairment test. The guidance is effective for annual and interim goodwill impairment tests for the Company’s fiscal year ending September 30, 2013. The Company is currently evaluating the prospective effects, if any, of adopting this guidance.

X

- Details

Name: us-gaap_AccountingChangesAndErrorCorrectionsAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

The entire disclosure for reporting accounting changes and error corrections. It includes the conveyance of information necessary for a user of the Company's financial information to understand all aspects and required disclosure information concerning all changes and error corrections reported in the Company's financial statements for the period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 250

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SAB TOPIC 1.N.Q3)

-URI http://asc.fasb.org/extlink&oid=6369664&loc=d3e30840-122693

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 250

-SubTopic 10

-Section 45

-Paragraph 23

-URI http://asc.fasb.org/extlink&oid=6368906&loc=d3e21914-107793

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

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 154

-Paragraph 17, 22, 25, 26

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 250

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6801783&loc=d3e22499-107794

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Staff Accounting Bulletin (SAB)

-Number Topic 1

-Section N

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 250

-SubTopic 10

-Section 50

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=6801783&loc=d3e22595-107794

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 250

-SubTopic 10

-Section 50

-Paragraph 7

-URI http://asc.fasb.org/extlink&oid=6801783&loc=d3e22644-107794

+ Details

Name: us-gaap_AccountingChangesAndErrorCorrectionsTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 27 R14.htm IDEA: XBRL DOCUMENT v2.4.0.6

SUBSEQUENT EVENTS:
3 Months Ended

Dec. 31, 2011

SUBSEQUENT EVENTS:

SUBSEQUENT EVENTS:

(9) SUBSEQUENT EVENTS:

Management evaluated subsequent events through the date these financial statements were issued. Based on this evaluation, the Company has determined that no subsequent events have occurred which require disclosure through the date that these financial statements are issued.

X

- Details

Name: us-gaap_SubsequentEventsAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.

+ References

No definition available.

+ Details

Name: us-gaap_SubsequentEventsTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 28 R5.htm IDEA: XBRL DOCUMENT v2.4.0.6

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
3 Months Ended

Dec. 31, 2011

Dec. 31, 2010

CASH FLOWS FROM OPERATING ACTIVITIES

Net loss $ (389) $ (337)

Adjustments to reconcile net loss to net cash used in operating activities, net of divested business:

Depreciation and amortization including debt costs 59 31

Change in fair value of derivative financial instruments 56

Compensation expense related to employee stock option grants 32 31

Compensation expense related to employee restricted stock grants 14

Compensation expense related to director restricted stock grants 123 20

Share based expense on non employee options 6

Warrants to consultants 3

Other non cash compensation 5

Changes in operating assets and liabilities, net of divested business:

Accounts receivable (1,311) (963)

Other current assets 71

Other assets (7)

Accounts payable, accrued payroll, accrued expenses and other current liabilities 82 (843)

Other long term liabilities 9 (2)

Cash flows from discontinued operation 0

Net cash used in operating activities (1,325) (1,985)

CASH FLOWS FROM INVESTING ACTIVITIES

Purchase of equipment, leasehold improvements and software (34) (9)

Net cash used in investing activities (34) (9)

CASH FLOWS FROM FINANCING ACTIVITIES

Net advances on revolving line of credit 1,092 1,443

Repayments on capital lease obligations (2) (5)

Cash flows from discontinued operation (17) (37)

Net cash provided by financing activities 1,073 1,401

Net decrease in cash and cash equivalents (286) (593)

CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 763 1,187

CASH AND CASH EQUIVALENTS AT END OF PERIOD 477 594

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:

Cash paid during the period for interest 53 45

Cash paid during the period for income taxes $ 0

X

- Definition

The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets also includes amortization of debt issuance cost.

+ References

No definition available.

+ Details

Name: tstf_DepreciationAmortizationAndDebtCosts

Namespace Prefix: tstf_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

The noncash expense that represents the cost of restricted stock or units distributed to directors as compensation.

+ References

No definition available.

+ Details

Name: tstf_DirectorRestrictedStockExpense

Namespace Prefix: tstf_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

The increase (decrease) during the reporting period in the amounts payable to vendors for goods and services received and the amount of obligations and expenses incurred but not paid. It further includes increase (decrease) during the reporting period in the aggregate amount of obligations related to services received from employees, such as accrued salaries and bonuses, payroll taxes and fringe benefits.

+ References

No definition available.

+ Details

Name: tstf_IncreaseDecreaseInAccountsPayableAndAccruedLiabilitiesAccruedEmployeeBenefitsCurrent

Namespace Prefix: tstf_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

Represents the noncash expense that accounts for share based expense on non employee options.

+ References

No definition available.

+ Details

Name: tstf_ShareBasedExpenseOnNonEmployeeOptions

Namespace Prefix: tstf_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

Represents the amount of expense with respect to warrants issued to consultants.

+ References

No definition available.

+ Details

Name: tstf_WarrantsToConsultants

Namespace Prefix: tstf_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Details

Name: us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits are not generally reported as cash and cash equivalents. Includes cash and cash equivalents associated with the entity's continuing operations. Excludes cash and cash equivalents associated with the disposal group (and discontinued operation).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.1)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

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

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 1

-Article 5

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

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 7

-Footnote 1

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3044-108585

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 8, 9

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section 45

-Paragraph 1

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6361293&loc=d3e6676-107765

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Cash

-URI http://asc.fasb.org/extlink&oid=6506951

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 7, 26

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Cash Equivalents

-URI http://asc.fasb.org/extlink&oid=6507016

+ Details

Name: us-gaap_CashAndCashEquivalentsAtCarryingValue

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition

The increase (decrease) during the reporting period in cash and cash equivalents. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 26

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 24

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3521-108585

+ Details

Name: us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: na

Period Type: duration

X

- Definition

This element represents cash provided by or used in the financing activities of the entity's discontinued operations during the period. This element is only used by those entities that separately report cash flows attributable to discontinued operations. If using this element, it is an indication that the cash flows of the entity which are detailed in reconciling to cash provided by or used in financing activities reflect only cash flows attributable to continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 26

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 24

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3521-108585

+ Details

Name: us-gaap_CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

This element represents cash provided by or used in the operating activities of the entity's discontinued operations during the period. This element is only used by those entities that separately report cash flows attributable to discontinued operations. If using this element, it is an indication that the cash flows of the entity which are detailed in reconciling to cash provided by or used in operating activities reflect only cash flows attributable to continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 26

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 24

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3521-108585

+ Details

Name: us-gaap_CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 25

-Subparagraph (f)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3536-108585

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

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 29

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 27

-Subparagraph f

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4297-108586

+ Details

Name: us-gaap_IncomeTaxesPaid

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 28

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

+ Details

Name: us-gaap_IncreaseDecreaseInAccountsReceivable

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Details

Name: us-gaap_IncreaseDecreaseInOperatingCapitalAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

The increase (decrease) during the reporting period in other current operating assets not separately disclosed in the statement of cash flows.

+ References

No definition available.

+ Details

Name: us-gaap_IncreaseDecreaseInOtherCurrentAssets

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The increase (decrease) during the reporting period in other noncurrent operating liabilities not separately disclosed in the statement of cash flows.

+ References

No definition available.

+ Details

Name: us-gaap_IncreaseDecreaseInOtherNoncurrentLiabilities

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

The increase (decrease) during the reporting period in other assets used in operating activities not separately disclosed in the statement of cash flows. May include changes in other current assets, other noncurrent assets, or a combination of other current and noncurrent assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 28

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

+ Details

Name: us-gaap_IncreaseDecreaseInOtherOperatingAssets

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The amount of cash paid for interest during the period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 29

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 25

-Subparagraph (e)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3536-108585

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4297-108586

+ Details

Name: us-gaap_InterestPaid

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The net cash inflow or outflow from financing activity for the period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 26

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 24

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3521-108585

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 26

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3574-108585

+ Details

Name: us-gaap_NetCashProvidedByUsedInFinancingActivities

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Details

Name: us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

The net cash inflow or outflow from investing activity.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 26

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 24

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3521-108585

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 26

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3574-108585

+ Details

Name: us-gaap_NetCashProvidedByUsedInInvestingActivities

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Details

Name: us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

The net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 24

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3521-108585

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 25

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3536-108585

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

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 28

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 26

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

+ Details

Name: us-gaap_NetCashProvidedByUsedInOperatingActivities

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: na

Period Type: duration

X

- Details

Name: us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

Net income after adjustments for dividends on preferred stock (declared in the period) and/or cumulative preferred stock (accumulated for the period).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 128

-Paragraph 9

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 45

-Paragraph 11

-URI http://asc.fasb.org/extlink&oid=6920599&loc=d3e1377-109256

+ Details

Name: us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The cash outflow for purchases of and capital improvements on property, plant and equipment (capital expenditures), software, and other intangible assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 13

-Subparagraph (c)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3213-108585

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

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 15

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 17

-Subparagraph c

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Investing Activities

-URI http://asc.fasb.org/extlink&oid=6516133

+ Details

Name: us-gaap_PaymentsToAcquireProductiveAssets

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The cash inflow from a contractual arrangement with the lender, including letter of credit, standby letter of credit and revolving credit arrangements, under which borrowings can be made up to a specific amount at any point in time with either short term or long term maturity that is collateralized (backed by pledge, mortgage or other lien in the entity's assets).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 14

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3255-108585

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

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 18

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 19

-Subparagraph b

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Financing Activities

-URI http://asc.fasb.org/extlink&oid=6513228

+ Details

Name: us-gaap_ProceedsFromLinesOfCredit

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

The cash outflow during the period from the repayment of aggregate short-term and long-term debt and payment of capital lease obligations.

+ References

No definition available.

+ Details

Name: us-gaap_RepaymentsOfDebtAndCapitalLeaseObligations

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition

The noncash expense that represents the cost of restricted stock or unit distributed to employees as compensation.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 28

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

+ Details

Name: us-gaap_RestrictedStockExpense

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 28

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

+ Details

Name: us-gaap_ShareBasedCompensation

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition

The noncash expense that accounts for the value of stock or unit options distributed to employees as compensation.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 123R

-Paragraph 64

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 123R

-Paragraph A240

-Subparagraph i

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

+ Details

Name: us-gaap_StockOptionPlanExpense

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Details

Name: us-gaap_SupplementalCashFlowInformationAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

The net change in the difference between the fair value and the carrying value, or in the comparative fair values, of derivative instruments, including options, swaps, futures, and forward contracts, held at each balance sheet date, that was included in earnings for the period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 95

-Paragraph 28

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

+ Details

Name: us-gaap_UnrealizedGainLossOnDerivatives

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

XML 29 R10.htm IDEA: XBRL DOCUMENT v2.4.0.6

PREPAID WORKERS' COMPENSATION:
3 Months Ended

Dec. 31, 2011

PREPAID WORKERS' COMPENSATION:

PREPAID WORKERS' COMPENSATION:

(5) PREPAID WORKERS’ COMPENSATION:

As part of the Company’s discontinued PEO operations, TeamStaff had a workers’ compensation program with Zurich American Insurance Company (“Zurich”) which covered the period from March 22, 2002 through November 16, 2003, inclusive. Payments for the policy were made to a trust monthly based on projected claims for the policy period. Interest on all assets held in the trust is credited to TeamStaff. Payments for claims and claims expenses are made from the trust. From time-to-time, trust assets have been refunded to the Company based on Zurich’s and managers’ overall assessment of claims experience and historical and projected settlements. The final amount of trust funds that could be refunded to the Company is subject to a number of uncertainties (e.g. claim settlements and experience, health care costs, the extended statutory filing periods for such claims); however, based on a third party’s study of claims experience, TeamStaff estimates that at December 31, 2011, the remaining prepaid asset of $0.3 million will be received within the next twelve to thirty-six months. This amount is reflected on TeamStaff’s balance sheet as December 31, 2011 as a current asset, in addition to approximately $0.2 million related to other policy deposits.

X

- Details

Name: us-gaap_CompensationRelatedCostsAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition

The entire disclosure for compensation costs, including compensated absences accruals, compensated absences liability, deferred compensation arrangements and income statement compensation items. Deferred compensation arrangements may include a description of an arrangement with an individual employee, which is generally an employment contract between the entity and a selected officer or key employee containing a promise by the employer to pay certain amounts at designated future dates, usually including a period after retirement, upon compliance with stipulated requirements. This type of arrangement is distinguished from broader based employee benefit plans as it is usually tailored to the employee. Disclosure also typically includes the amount of related compensation expense recognized during the reporting period, the number of shares (units) issued during the period under such arrangements, and the carrying amount as of the balance sheet date of the related liability.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 718

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 715

-SubTopic 20

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6962843&loc=d3e1928-114920

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

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 123R

-Paragraph 64, 65

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 718

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 718

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SAB TOPIC 14.F)

-URI http://asc.fasb.org/extlink&oid=6793087&loc=d3e301413-122809

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 715

-SubTopic 70

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6414718&loc=d3e28014-114942

+ Details

Name: us-gaap_CompensationRelatedCostsGeneralTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 30 FilingSummary.xml IDEA: XBRL DOCUMENT 2.4.0.6 Html 7 113 1 false 0 0 false 3 false false R1.htm 0000 - Document - Document and Entity Information Sheet http://www.teamstaff.com/role/DocumentAndEntityInformation Document and Entity Information true false R2.htm 0010 - Statement - CONSOLIDATED BALANCE SHEETS Sheet http://www.teamstaff.com/role/BalanceSheet CONSOLIDATED BALANCE SHEETS false false R3.htm 0015 - Statement - CONSOLIDATED BALANCE SHEETS (Parenthetical) Sheet http://www.teamstaff.com/role/BalanceSheetParenthetical CONSOLIDATED BALANCE SHEETS (Parenthetical) false false R4.htm 0020 - Statement - CONSOLIDATED STATEMENTS OF OPERATIONS Sheet http://www.teamstaff.com/role/StatementOfIncome CONSOLIDATED STATEMENTS OF OPERATIONS false false R5.htm 0030 - Statement - CONSOLIDATED STATEMENTS OF CASH FLOWS Sheet http://www.teamstaff.com/role/CashFlows CONSOLIDATED STATEMENTS OF CASH FLOWS false false R6.htm 1010 - Disclosure - ORGANIZATION AND BUSINESS: Sheet http://www.teamstaff.com/role/DisclosureOrganizationAndBusiness ORGANIZATION AND BUSINESS: false false R7.htm 1020 - Disclosure - LIQUIDITY AND SIGNIFICANT ACCOUNTING POLICIES: Sheet http://www.teamstaff.com/role/DisclosureLiquidityAndSignificantAccountingPolicies LIQUIDITY AND SIGNIFICANT ACCOUNTING POLICIES: false false R8.htm 1030 - Disclosure - DISCONTINUED OPERATION: Sheet http://www.teamstaff.com/role/DisclosureDiscontinuedOperation DISCONTINUED OPERATION: false false R9.htm 1040 - Disclosure - COMMITMENTS AND CONTINGENCIES: Sheet http://www.teamstaff.com/role/DisclosureCommitmentsAndContingencies COMMITMENTS AND CONTINGENCIES: false false R10.htm 1050 - Disclosure - PREPAID WORKERS' COMPENSATION: Sheet http://www.teamstaff.com/role/DisclosurePrepaidWorkersCompensation PREPAID WORKERS' COMPENSATION: false false R11.htm 1060 - Disclosure - DEBT: Sheet http://www.teamstaff.com/role/DisclosureDebt DEBT: false false R12.htm 1070 - Disclosure - EQUITY AND CONVERTIBLE DEBENTURES FINANCING Sheet http://www.teamstaff.com/role/DisclosureEquityAndConvertibleDebenturesFinancing EQUITY AND CONVERTIBLE DEBENTURES FINANCING false false R13.htm 1080 - Disclosure - Recently Issued Accounting Pronouncements Affecting the Company Sheet http://www.teamstaff.com/role/DisclosureRecentlyIssuedAccountingPronouncementsAffectingTheCompany Recently Issued Accounting Pronouncements Affecting the Company false false R14.htm 1090 - Disclosure - SUBSEQUENT EVENTS: Sheet http://www.teamstaff.com/role/DisclosureSubsequentEvents SUBSEQUENT EVENTS: false false All Reports Book All Reports Process Flow-Through: 0010 - Statement - CONSOLIDATED BALANCE SHEETS Process Flow-Through: Removing column 'Dec. 31, 2010' Process Flow-Through: Removing column 'Sep. 30, 2010' Process Flow-Through: 0015 - Statement - CONSOLIDATED BALANCE SHEETS (Parenthetical) Process Flow-Through: 0020 - Statement - CONSOLIDATED STATEMENTS OF OPERATIONS Process Flow-Through: 0030 - Statement - CONSOLIDATED STATEMENTS OF CASH FLOWS tstf-20111231.xml tstf-20111231.xsd tstf-20111231_cal.xml tstf-20111231_def.xml tstf-20111231_lab.xml tstf-20111231_pre.xml true true

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2011	Sep. 30, 2011
CONSOLIDATED BALANCE SHEETS
Accounts receivable, allowance for doubtful accounts (in dollars)	$ 0	$ 0
Preferred stock, par value (in dollars per share)	$ 0.10	$ 0.10
Preferred stock, authorized shares	5,000	5,000
Preferred stock, issued shares	0	0
Preferred stock, outstanding shares	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, authorized shares	40,000	40,000
Common stock, issued shares	6,077	6,023
Common stock, outstanding shares	6,075	6,021
Treasury stock, shares	2	2

Document and Entity Information	3 Months Ended
Document and Entity Information	Dec. 31, 2011	Feb. 09, 2011
Document and Entity Information
Entity Registrant Name	TEAMSTAFF INC
Entity Central Index Key	0000785557
Document Type	10-Q
Document Period End Date	Dec. 31, 2011
Amendment Flag	false
Current Fiscal Year End Date	--09-30
Entity Current Reporting Status	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		6,074,933
Document Fiscal Year Focus	2012
Document Fiscal Period Focus	Q1

CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended
	Dec. 31, 2011	Dec. 31, 2010
REVENUES	$ 11,495	$ 10,575
DIRECT EXPENSES	9,928	9,257
GROSS PROFIT	1,567	1,318
GENERAL AND ADMINISTRATIVE EXPENSES	1,754	1,562
DEPRECIATION AND AMORTIZATION	23	31
Loss from operations	(210)	(275)
OTHER INCOME (EXPENSE)
Interest income		1
Interest expense	(77)	(45)
Amortization of deferred financing costs	(46)
Change in fair value of financial instruments	(56)
Other income, net		1
Legal expense related to pre-acquisition activity of acquired company		(19)
Total other income (expenses)	(179)	(62)
Loss from continuing operations before income taxes	(389)	(337)
INCOME TAX EXPENSE	0
Loss from continuing operations	(389)	(337)
NET LOSS	$ (389)	$ (337)
NET GAIN (LOSS) PER SHARE - BASIC AND DILUTED
Loss from continuing operations (in dollars per share)	$ (0.06)	$ (0.07)
Gain (loss) from discontinued operation (in dollars per share)	$ 0
Net loss per share (in dollars per share)	$ (0.06)	$ (0.07)
WEIGHTED AVERAGE BASIC SHARES OUTSTANDING (in shares)	6,070	5,117
WEIGHTED AVERAGE DILUTED SHARES OUTSTANDING (in shares)	6,070	5,117