0001213900-15-005751.txt : 20150806 0001213900-15-005751.hdr.sgml : 20150806 20150806084617 ACCESSION NUMBER: 0001213900-15-005751 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 10 CONFORMED PERIOD OF REPORT: 20150630 FILED AS OF DATE: 20150806 DATE AS OF CHANGE: 20150806 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Neonode, Inc CENTRAL INDEX KEY: 0000087050 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRONIC COMPONENTS, NEC [3679] IRS NUMBER: 941517641 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-35526 FILM NUMBER: 151031274 BUSINESS ADDRESS: STREET 1: STORGATAN 23C, 114 55 CITY: STOCKHOLM STATE: V7 ZIP: 00000 BUSINESS PHONE: 46 0 8 667 17 17 MAIL ADDRESS: STREET 1: STORGATAN 23C, 114 55 CITY: STOCKHOLM STATE: V7 ZIP: 00000 FORMER COMPANY: FORMER CONFORMED NAME: SBE INC DATE OF NAME CHANGE: 19920703 10-Q 1 f10q0615_neonodeinc.htm QUARTERLY REPORT

 

 

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 10-Q

  

☒ Quarterly report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934

 

For the quarterly period ended June 30, 2015

 

☐ Transition report pursuant to section 13 or 15(d) of the Securities and Exchange Act of 1934

 

For the transition period from ________ to ________

 

Commission file number 1-35526

 

NEONODE INC.

 

(Exact name of registrant as specified in its charter)

 

Delaware   94-1517641
(State or other jurisdiction of   (IRS Employer
incorporation or organization)   Identification No.)

  

Storgatan 23C, 114 55 Stockholm, Sweden

(Address of principal executive offices and zip code)

 

+46 (0) 8 667 17 17 

 

(Registrant's telephone number, including area code)

 

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 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 ý No ¨ 

 

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 during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ý No o

 

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”, “non-accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

 

  Large accelerated filer  ☐ Accelerated filer ý
  Non-accelerated filer  ☐ Smaller reporting company ☐ 
  (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 ý

 

The number of shares of the registrant’s common stock outstanding as of August 3, 2015 was 40,524,984.

 

 

 

 
 

 

NEONODE INC.

 

Form 10-Q

For the Fiscal Quarter Ended June 30, 2015

 

TABLE OF CONTENTS

 

    Page
     
PART I Financial Information 3
     
Item 1 Financial Statements 3
     
Condensed Consolidated Balance Sheets as of June 30, 2015 (Unaudited) and December 31, 2014 (Audited) 3
     
Unaudited Condensed Consolidated Statements of Operations  for the three and six months ended
June 30, 2015 and 2014
4
     
Unaudited Condensed Consolidated Statements of Comprehensive Loss for the  three and six months ended June 30, 2015 and 2014 5
     
Unaudited Condensed Consolidated Statements of Cash Flows for the six months ended
June 30, 2015 and 2014
6
     
  Notes to Unaudited Condensed Consolidated Financial Statements 7
     
Item 2 Management’s Discussion and Analysis of Financial Condition and Results of Operations 21
     
Item 3 Quantitative and Qualitative Disclosures about Market Risk 26
     
Item 4 Controls and Procedures 26
     
PART II OTHER INFORMATION 26
     
Item 1 Legal Proceedings  26
     
Item 1A Risk Factors 26
     
Item 6 Exhibits  26
     
SIGNATURES 27
     
EXHIBITS  

  

2
 

 

PART I. Financial Information

 

Item 1. Financial Statements

 

NEONODE INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except share and per share amounts)

 

   June 30,   December 31, 
   2015   2014 
ASSETS  (Unaudited)   (Audited) 
Current assets:        
Cash  $3,159   $6,129 
Accounts receivable, net   681    1,106 
Projects in process   725    200 
     Prepaid expenses and other current assets   560    513 
Total current assets   5,125    7,948 
           
Property and equipment, net   533    654 
Total assets  $5,658   $8,602 
           
LIABILITIES AND STOCKHOLDERS’ EQUITY          
Current liabilities:          
Accounts payable  $884   $566 
Accrued expenses   1,255    935 
Deferred revenues   3,016    3,403 
Current portion of capital lease obligation   57    61 
Total current liabilities   5,212    4,965 
           
Capital lease obligation, net of current portion   315    367 
Total liabilities   5,527    5,332 
           
Commitments and contingencies          
           
Stockholders’ equity:          
Series B Preferred stock, 54,425 shares authorized with par value $0.001 per share; 83 shares issued and outstanding at June 30, 2015 and December 31, 2014. (In the event of dissolution, each share of Series B Preferred stock has a liquidation preference equal to par value of  $0.001 per share over the shares of common stock)   -    - 
Common stock, 70,000,000 shares authorized with par value $0.001 per share; 40,524,984 and 40,455,352 shares issued and outstanding at June 30, 2015 and December 31, 2014, respectively   40    40 
Additional paid-in capital   169,782    169,010 
Accumulated other comprehensive income   102    149 
Accumulated deficit   (169,793)   (165,929)
Total stockholders' equity   131    3,270 
Total liabilities and stockholders’ equity  $5,658   $8,602 

 

See accompanying notes to condensed consolidated financial statements.

 

3
 

 

NEONODE INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share amounts)

(Unaudited)

 

   Three months ended
June 30,
   Six months ended 
June 30,
 
   2015   2014   2015   2014 
                 
Net revenues  $2,776   $865   $5,039   $1,879 
Cost of revenues   737    452    1,075    618 
Gross margin   2,039    413    3,964    1,261 
                     
Operating expenses:                    
Product research and development   1,629    1,742    3,208    3,526 
Sales and marketing   953    756    1,803    1,798 
General and administrative   1,194    1,789    2,756    3,818 
                     
     Total operating expenses   3,776    4,287    7,767    9,142 
Operating loss   (1,737)   (3,874)   (3,803)   (7,881)
                     
Other expense:                    
Interest expense   4    -    8    - 
Other expense, net   28    -    28    - 
Total other expense   32    -    36    - 
                     
Loss before provision for income taxes   (1,769)   (3,874)   (3,839)   (7,881)
                     
Provision for income taxes   23    -    25    1 
Net loss  $(1,792)  $(3,874)  $(3,864)  $(7,882)
Loss per common share:                    
Basic and diluted loss per share  $(0.04)  $(0.10)  $(0.10)  $(0.20)
Basic and diluted – weighted average number of common shares outstanding   40,499    39,233    40,477    38,587 

 

See accompanying notes to condensed consolidated financial statements

 

4
 

  

NEONODE INC.

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS

(In thousands)

(Unaudited)

 

   Three months ended
June 30,
   Six months ended
June 30,
 
   2015   2014   2015   2014 
                 
Net loss  $(1,792)  $(3,874)  $(3,864)  $(7,882)
Other  comprehensive income (loss):                    
Foreign currency translation adjustments   (49)   30    (47)   65 
Total comprehensive loss  $(1,841)  $(3,844)  $(3,911)  $(7,817)

 

See accompanying notes to condensed consolidated financial statements.

 

5
 

 

NEONODE INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(Unaudited) 

 

   Six months ended
June 30,
 
   2015   2014 
         
Cash flows from operating activities:        
Net loss  $(3,864)  $(7,882)
Adjustments to reconcile net loss to net cash used in operating activities:          
Stock-based compensation expense   772    1,415 
Loss on disposal of property and equipment   28    - 
Depreciation and amortization   93    83 
Changes in operating assets and liabilities:          
Accounts receivable   424    236 
Projects in process   (528)   (44)
Prepaid expenses and other current assets   (70)   (61)
Accounts payable and accrued expenses   711    429 
Deferred revenues   (385)   (186)
Net cash used in operating activities   (2,819)   (6,010)
           
Cash flows from investing activities:          
Purchase of property and equipment   (36)   (86)
Net cash used in investing activities   (36)   (86)
           
Cash flows from financing activities:          
Proceeds from sales of common stock, net of offering costs   -    9,254 
Proceeds from exercise of stock warrants   -    36 
Principal payments on capital lease obligation   (29)   - 
Net cash (used in) provided by financing activities   (29)   9,290 
           
Effect of exchange rate changes on cash   (86)   39 
           
Net increase (decrease) in cash   (2,970)   3,233 
Cash at beginning of period   6,129    8,815 
Cash at end of period  $3,159   $12,048 
           
Supplemental disclosure of cash flow information:          
Cash paid for income taxes  $37   $1 
Cash paid for interest  $8   $- 
           
Supplemental disclosure of non-cash investing and financing activities          
Purchase of equipment with capital lease obligations  $-   $530 

 

See accompanying notes to condensed consolidated financial statements.

 

6
 

 

NEONODE INC.

Notes to the Condensed Consolidated Financial Statements

(Unaudited)

 

1. Interim Period Reporting

 

The accompanying unaudited interim condensed consolidated financial statements, include all adjustments, consisting of normal recurring adjustments that are, in the opinion of management, necessary for a fair presentation of the financial position and results of operations and cash flows for the interim periods presented. The results of operations for the three and six months ended June 30, 2015 are not necessarily indicative of results for a full fiscal year or any other period.

 

The accompanying condensed consolidated financial statements for the three and six months ended June 30, 2015 and 2014 have been prepared by us, pursuant to the rules and regulations of the United States (“U.S.”) Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally contained in financial statements prepared in accordance with accounting principles generally accepted in the U.S. (“U.S. GAAP”) have been condensed or omitted. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto contained in our Annual Report on Form 10-K for the fiscal year ended December 31, 2014.

 

Operations

 

Neonode Inc. (collectively with its subsidiaries, is referred to in this Form 10-Q Report as “Neonode”, “we”, “us”, “our” or the “Company”), develops and licenses user interfaces and optical infrared touch technology. We license our multi-touch technology to Original Equipment Manufacturers (“OEMs”) and Original Design Manufacturers (“ODMs”) who incorporate it into devices that they produce and sell.

 

Liquidity

 

We have incurred significant operating losses and negative cash flows from operations since our inception. The Company incurred net losses of approximately $1.8 million and $3.9 million and $3.9 million and $7.9 million for the three and six months ended June 30, 2015 and 2014, respectively, and had an accumulated deficit of approximately $169.8 million and $165.9 million as of June 30, 2015 and December 31, 2014, respectively. In addition, the Company used cash in operating activities of approximately $2.8 million and $6.0 million for the six months ended June 30, 2015 and 2014, respectively.

 

In June 2014, we filed a shelf registration statement with the SEC that became effective on June 12, 2014. We may from time to time issue shares of our common stock under our shelf registration in amounts, at prices, and on terms to be announced when and if the securities are offered. The specifics of any future offerings, along with the use of proceeds of any securities offered, will be described in a prospectus supplement and any other offering materials, at the time of the offering. There are 5,000,000 shares registered and available for issuance under our shelf registration.

 

We believe that we have sufficient cash to operate for the next twelve months. While there is no assurance that the Company can meet its cash flow, management anticipates that it can continue operations for at least the next twelve months.

 

In the future, we may require sources of capital in addition to cash on hand to continue operations and to implement our strategy. If our operations do not become cash flow positive, we may be forced to seek credit line facilities from financial institutions, equity investments or debt arrangements. No assurances can be given that we will be successful in obtaining such additional financing on reasonable terms, or at all. If adequate funds are not available on acceptable terms, or at all, we may be unable to adequately fund our business plans and it could have a negative effect on our business, results of operations and financial condition. In addition, if funds are available, the issuance of equity securities or securities convertible into equity could dilute the value of shares of our common stock and cause the market price to fall, and the issuance of debt securities could impose restrictive covenants that could impair our ability to engage in certain business transactions.

 

7
 

 

2.   Summary of Significant Accounting Policies

 

Principles of Consolidation

 

The consolidated financial statements have been prepared in accordance with U.S. GAAP and include the accounts of Neonode Inc. and its wholly owned subsidiaries. All inter-company accounts and transactions have been eliminated in consolidation.

 

The unaudited condensed consolidated balance sheet at June 30, 2015 and the unaudited condensed consolidated statements of operations and comprehensive loss for the three and six months ended June 30, 2015 and cash flows for the six months ended June 30, 2015, include our accounts and those of our wholly owned subsidiaries, Neonode Technologies AB (Sweden), Neonode Americas Inc. (U.S.), Neonode Japan Inc. (Japan), NEON Technology Inc. (U.S.), Neno User Interface Solutions AB (Sweden), Neonode Korea Ltd. (South Korea) and Neonode Taiwan Ltd. (Taiwan).

 

The audited condensed consolidated balance sheet at December 31, 2014 include our accounts and those of our wholly owned subsidiaries, Neonode Technologies AB (Sweden), Neonode Americas Inc. (U.S.), Neonode Japan Inc. (Japan), NEON Technology Inc. (U.S.), Neno User Interface Solutions AB (Sweden) and Neonode Korea Ltd. (South Korea).   

 

The unaudited condensed consolidated statements of operations and comprehensive loss for the three and six months ended June 30, 2014 and cash flows for the six months ended June 30, 2014 include our accounts and those of our wholly owned subsidiaries, Neonode Technologies AB (Sweden), Neonode Americas Inc. (U.S.), Neonode Japan Inc. (Japan), NEON Technology Inc. (U.S.) and Neno User Interface Solutions AB (Sweden).  

 

Estimates

 

The preparation of consolidated financial statements in conformity with U.S. GAAP requires making estimates and assumptions that affect, at the date of the consolidated financial statements, the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities and the reported amounts of revenue and expenses. Actual results could differ from these estimates. Significant estimates include, but are not limited to, collectability of accounts receivable, the achievement of substantive milestones and vendor-specific objective evidence (“VSOE”) of fair value for purposes of revenue recognition (or deferral of revenue), recoverability of capitalized project costs and long-lived assets, the valuation allowance related to our deferred tax assets and the fair value of options and warrants issued for stock-based compensation.

 

Concentration of Cash Balance Risks

 

Cash balances are maintained at various banks in the U.S., Japan, Korea, Taiwan and Sweden. At times, deposits held with financial institutions in the U.S. may exceed the amount of insurance provided by the U.S. Federal Deposit Insurance Corporation, which provides basic deposit coverage with limits up to $250,000 per owner. The Swedish government provides insurance coverage up to 100,000 Euro per customer and covers deposits in all types of accounts. The Japanese government provides insurance coverage up to 10,000,000 Yen per customer. The Korea Deposit Insurance Corporation provides insurance coverage up to 50,000,000 Won per customer. The Central Deposit Insurance Corporation in Taiwan provides insurance coverage up to 3,000,000 Taiwan Dollar per customer. As of June 30, 2015, we had approximately $2.7 million in excess of insurance limits.

 

8
 

 

Accounts Receivable and Allowance for Doubtful Accounts  

 

Our accounts receivable are stated at net realizable value. Our policy is to maintain allowances for estimated losses resulting from the inability of our customers to make required payments. Credit limits are established through a process of reviewing the financial history and stability of each customer. Where appropriate, we obtain credit rating reports and financial statements of the customer when determining or modifying its credit limits. We regularly evaluate the collectability of our trade receivable balances based on a combination of factors. When a customer’s account balance becomes past due, we initiate dialogue with the customer to determine the cause. If it is determined that the customer will be unable to meet its financial obligation, such as in the case of a bankruptcy filing, deterioration in the customer’s operating results or financial position or other material events impacting its business, we record a specific allowance to reduce the related receivable to the amount we expect to recover. Should all efforts fail to recover the related receivable, we will write-off the account. We also record an allowance for all customers based on certain other factors including the length of time the receivables are past due and historical collection experience with customers. Our allowance for doubtful accounts was $167,000 as of June 30, 2015 and December 31, 2014.

 

Projects in Process

 

Projects in process consist of costs incurred toward the completion of various projects for certain customers. These costs are primarily comprised of direct engineering labor costs and project-specific equipment costs. These costs are capitalized on our consolidated balance sheet as an asset and deferred until revenue for each project is recognized in accordance with our revenue recognition policy. Costs capitalized in projects in process were $725,000 and $200,000 as of June 30, 2015 and December 31, 2014, respectively.

 

Property and Equipment

 

Property and equipment are stated at cost, net of accumulated depreciation and amortization. Depreciation and amortization are computed using the straight-line method based upon estimated useful lives of the assets as follows:

 

Estimated useful lives

 

Computer equipment 3 years
Furniture and  fixtures 5 years

 

Equipment purchased under capital leases is amortized on a straight-line basis over the estimated useful life of the asset or the term of the lease, whichever is shorter.

 

Upon retirement or sale of property and equipment, cost and accumulated depreciation and amortization are removed from the accounts and any gains or losses are reflected in the consolidated statement of operations. Maintenance and repairs are charged to expense as incurred.

 

Long-lived Assets

 

We assess any impairment by estimating the future cash flow from the associated asset in accordance with relevant accounting guidance. If the estimated undiscounted future cash flow related to these assets decreases or the useful life is shorter than originally estimated, we may incur charges for impairment of these assets. As of June 30, 2015, we believe there was no impairment of our long-lived assets. There can be no assurance, however, that market conditions will not change or sufficient demand for our products and services will continue, which could result in impairment of long-lived assets in the future.

 

Foreign Currency Translation and Transaction Gains and Losses

 

The functional currency of our foreign subsidiaries is the applicable local currency, the Swedish Krona, the Japanese Yen, the South Korean Won and the Taiwan Dollar. The translation from Swedish Krona, Japanese Yen, South Korean Won and Taiwan Dollar to U.S. Dollars is performed for balance sheet accounts using current exchange rates in effect at the balance sheet date and for income statement accounts using a weighted-average exchange rate during the period. Gains or (losses) resulting from translation are included as a separate component of accumulated other comprehensive income (loss). Foreign currency translation losses were $(49,000) and $(47,000) during the three and six months ended June 30, 2015, respectively, compared to translation gains of $30,000 and $65,000 during the same periods in 2014, respectively. Gains resulting from foreign currency transactions are included in general and administrative expenses in the accompanying consolidated statements of operations and were $5,000 and $31,000 during the three and six months ended June 30, 2015, respectively, compared to $8,000 and $34,000 during the same periods in 2014, respectively.

 

9
 

 

Concentration of Credit and Business Risks

 

Our customers are located in U.S., Europe and Asia.

 

As of June 30, 2015, two customers represented approximately 90% of the Company’s accounts receivable. 

 

As of December 31, 2014, three customers represented approximately 87% of the Company’s accounts receivable. 

 

Our net revenues for the three and six months ended June 30, 2015 were earned from twenty-one and twenty-seven customers, respectively. Customers who accounted for 10% or more of our net revenues during the three months ended June 30, 2015 are as follows:

 

·Autoliv Development AB – 31%
·Hewlett Packard Company – 28%
·Amazon – 11%

 

Customers who accounted for 10% or more of our net revenues during the six months ended June 30, 2015 are as follows:

 

·Hewlett Packard Company – 29%
·Amazon – 19%
·Autoliv Development AB – 17%

 

Our net revenues for the three and six months ended June 30, 2014 were earned from nineteen and twenty-two customers. Customers who accounted for 10% or more of our net revenues during the three months ended June 30, 2014 are as follows:

 

·Delphi Electronics and Safety – 14%
·Hewlett Packard Company – 12%
·Netronix Inc. – 11%
·KOBO Inc. – 15%
·Wave Group Ltd. – 11%
·Clarion Industries Co., Ltd. – 12%

 

Customers who accounted for 10% or more of our net revenues during the six months ended June 30, 2014 are as follows:

 

·Leap Frog – 19%
·Kobo Inc. – 13%
·Netronix Inc. – 13%
·Sony Corporation. – 11%

 

10
 

 

Revenue Recognition

 

Licensing Revenues:

 

We derive revenue from the licensing of internally developed intellectual property (“IP”). We enter into IP licensing agreements that generally provide licensees the right to incorporate our IP components in their products with terms and conditions that vary by licensee. Fees under these agreements may include license fees relating to our IP and royalties payable following the distribution by our licensees of products incorporating the licensed technology. The license for our IP has standalone value and can be used by the licensee without maintenance and support. We follow U.S. GAAP for revenue recognition as per unit royalty products are distributed or licensed by our customers. For technology license arrangements that do not require significant modification or customization of the underlying technology, we recognize technology license revenue when: (1) we enter into a legally binding arrangement with a customer for the license of technology; (2) the customer distributes or licenses the products; (3) the customer payment is deemed fixed or determinable and free of contingencies or significant uncertainties; and (4) collection is reasonably assured. Our customers report to us the quantities of products distributed or licensed by them after the end of the reporting period stipulated in the contract, generally 30 to 45 days after the end of the month or quarter. We recognize licensing revenue in the period in which royalty reports are received, rather than the period in which the products are distributed or to which the license relates.

 

Explicit return rights are not offered to customers. There have been no returns through June 30, 2015.

 

Engineering Services:

 

We may sell engineering consulting services to our customers on a flat rate or hourly rate basis. We recognize revenue from these services when all of the following conditions are met: (1) evidence existed of an arrangement with the customer, typically consisting of a purchase order or contract; (2) our services were performed and risk of loss passed to the customer; (3) we completed all of the necessary terms of the contract; (4) the amount of revenue to which we were entitled was fixed or determinable; and (5) we believed it was probable that we would be able to collect the amount due from the customer. To the extent that one or more of these conditions has not been satisfied, we defer recognition of revenue.  

 

Generally, we recognize revenue as the engineering services stipulated under the contract are completed and accepted by our customers.  Engineering services are performed under a signed Statement of Work (“SOW”) with a customer. The deliverables and payment terms stipulated under the SOW provide guidance on the project revenue recognition.

 

Revenues from contracts that are short-term in nature and related costs that are difficult to estimate are accounted for under the completed contract method.

 

Revenues from contracts with substantive defined milestones that we have determined are reasonable, relevant to all the deliverables and payment terms in the SOW that are commensurate with the efforts required to achieve the milestones are recognized under the milestone recognition method.

 

Estimated losses on all SOW projects are recognized in full as soon as they become evident.

 

Deferred Revenues

 

From time-to-time we receive pre-payments from our customers related to future services or future license fee revenues. We defer the license fees until we have met all accounting requirements for revenue recognition as per unit royalty products are distributed and royalty reports are received. Engineering development fee revenues are deferred until such time as the engineering work has been completed and accepted by our customers.

 

Advertising

 

Advertising costs are expensed as incurred. Advertising costs for the three and six months ended June 30, 2015 amounted to approximately $8,000 and $28,000, respectively. Advertising costs for the three and six months ended June 30, 2014 amounted to approximately $23,000 and $129,000, respectively.

 

Product Research and Development

 

Research and development (“R&D”) costs are expensed as incurred. R&D costs consist mainly of personnel related costs in addition to some external consultancy costs such as testing, certifying and measurements. 

 

11
 

 

Stock-Based Compensation Expense

 

We measure the cost of employee services received in exchange for an award of equity instruments, including stock options, based on the estimated fair value of the award on the grant date, and recognize the value as compensation expense over the period the employee is required to provide services in exchange for the award, usually the vesting period, net of estimated forfeitures.

 

 We account for equity instruments issued to non-employees at their estimated fair value. The measurement date for the estimated fair value for the equity instruments issued is determined at the earlier of (1) the date at which a commitment for performance by the consultant or vendor is reached, or (2) the date at which the consultant or vendor’s performance is complete. In the case of equity instruments issued to consultants, the fair value of the equity instruments is primarily recognized over the term of the consulting agreement. The estimated fair value of the stock-based compensation is periodically re-measured and income or expense is recognized during the vesting term.

 

When determining stock-based compensation expense involving options and warrants, we determine the estimated fair value of options and warrants using the Black-Scholes option pricing model.

 

Income Taxes

 

We recognize deferred tax liabilities and assets for the expected future tax consequences of items that have been included in the consolidated financial statements or tax returns. We estimate income taxes based on rates in effect in each of the jurisdictions in which we operate. Deferred income tax assets and liabilities are determined based upon differences between the financial statement and income tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The realization of deferred tax assets is based on historical tax positions and expectations about future taxable income. Valuation allowances are recorded against net deferred tax assets when, in our opinion, realization is uncertain based on the “more likely than not” criteria of the accounting guidance.

 

Based on the uncertainty of future pre-tax income, we fully reserved our net deferred tax assets as of June 30, 2015 and December 31, 2014. In the event we were to determine that we would be able to realize our deferred tax assets in the future, an adjustment to the deferred tax asset would increase income in the period such determination was made. The provision for income taxes represents the net change in deferred tax amounts, plus income taxes paid or payable for the current period.

 

We follow U.S. GAAP related to accounting for uncertainty in income taxes, which provisions include a two-step approach to recognizing, de-recognizing and measuring uncertainty in income taxes.  As a result, we did not recognize a liability for unrecognized tax benefits. As of June 30, 2015 and December 31, 2014, we had no unrecognized tax benefits.

 

Net Loss per Share

 

Net loss per share amounts have been computed based on the weighted average number of shares of common stock outstanding during the three and six months ended June 30, 2015 and 2014. Net loss per share, assuming dilution amounts from common stock equivalents, is computed based on the weighted-average number of shares of common stock and potential common stock equivalents outstanding during the period. The weighted-average number of shares of common stock and potential common stock equivalents used in computing the net loss per share for the three and six months ended June 30, 2015 and 2014 exclude the potential common stock equivalents, as the effect would be anti-dilutive (See Note 8).

 

Other Comprehensive Income (Loss) 

 

Our other comprehensive income (loss) includes foreign currency translation gains and losses. The cumulative amount of translation gains and losses are reflected as a separate component of stockholders’ equity in the consolidated balance sheets as accumulated other comprehensive income.

 

12
 

 

Cash Flow Information

 

Cash flows in foreign currencies have been converted to U.S. dollars at an approximate weighted-average exchange rate for the respective reporting periods. The weighted-average exchange rate for the condensed consolidated statements of operations and comprehensive loss was 8.42 and 6.60 Swedish Krona to one U.S. Dollar for the three months ended June 30, 2015 and 2014, respectively. The weighted-average exchange rate for the condensed consolidated statements of operations and comprehensive loss was 8.37 and 6.53 Swedish Krona to one U.S. Dollar for the six months ended June 30, 2015 and 2014, respectively. The exchange rate for the condensed consolidated balance sheets was 8.31 and 7.80 Swedish Krona to one U.S. Dollar as of June 30, 2015 and December 31, 2014, respectively. The weighted-average exchange rate for the condensed consolidated statements of operations and comprehensive loss was 121.29 and 102.12 Japanese Yen to one U.S. Dollar for the three months ended June 30, 2015 and 2014, respectively. The weighted-average exchange rate for the condensed consolidated statements of operations and comprehensive loss was 120.23 and 102.47 Japanese Yen to one U.S. Dollar for the six months ended June 30, 2015 and 2014, respectively. The exchange rate for the condensed consolidated balance sheets was 122.72 and 119.93 Japanese Yen to one U.S. Dollar as of June 30, 2015 and December 31, 2014, respectively. The weighted-average exchange rate for the condensed consolidated statements of operations and comprehensive loss was 1,096.06 South Korean Won to one U.S. Dollar for the three months ended June 30, 2015. The weighted-average exchange rate for the condensed consolidated statements of operations and comprehensive loss was 1,098.02 South Korean Won to one U.S. Dollar for the six months ended June 30, 2015. The exchange rate for the condensed consolidated balance sheets was 1,126.89 and 1,096.73 South Korean Won to one U.S. Dollar as of June 30, 2015 and December 31, 2014, respectively. The weighted-average exchange rate for the condensed consolidated statements of operations and comprehensive loss was 30.78 Taiwan Dollar to one U.S. Dollar for the three months ended June 30, 2015. The weighted-average exchange rate for the condensed consolidated statements of operations and comprehensive loss was 31.17 Taiwan Dollar to one U.S. Dollar for the six months ended June 30, 2015. The exchange rate for the condensed consolidated balance sheet was 30.92 Taiwan Dollar to one U.S. Dollar as of June 30, 2015.

 

Fair Value of Financial Instruments

 

We disclose the estimated fair values for all financial instruments for which it is practicable to estimate fair value. Financial instruments including cash, accounts receivable, accounts payable and accrued expenses and are deemed to approximate fair value due to their short maturities.

 

New Accounting Pronouncements

 

In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” (“ASU 2014-09”). ASU 2014-09 amends the guidance for revenue recognition to replace numerous, industry specific requirements and converges areas under this topic with those of the International Financial Reporting Standards. The ASU implements a five-step process for customer contract revenue recognition that focuses on transfer of control, as opposed to transfer of risk and rewards. The amendment also requires enhanced disclosures regarding the nature, amount, timing and uncertainty of revenues and cash flows from contracts with customers. Other major provisions include the capitalization and amortization of certain contract costs, ensuring the time value of money is considered in the transaction price, and allowing estimates of variable consideration to be recognized before contingencies are resolved in certain circumstances. Entities can transition to the standard either retrospectively or as a cumulative-effect adjustment as of the date of adoption. On July 9, 2015, the FASB approved amendments deferring the effective date by one year to December 15, 2017 for annual reporting periods beginning after that date and permitting early adoption of the standard, but not before the original effective date or for reporting periods beginning after December 15, 2016. We have not yet selected a transition method and are currently assessing the impact the adoption of ASU 2014-09 will have on our consolidated financial statements and disclosures.

 

13
 

 

In August 2014, the FASB issued ASU No. 2014-15, “Presentation of Financial Statements - Going Concern: Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern”. The amendments in this update provide guidance in U.S. GAAP about management's responsibilities to evaluate whether there is substantial doubt about an entity's ability to continue as a going concern and to provide related footnote disclosures. The main provision of the amendments are for an entity's management, in connection with the preparation of financial statements, to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the entity's ability to continue as a going concern within one year after the date that the financial statements are issued. Management's evaluation should be based on relevant conditions and events that are known or reasonably knowable at the date the consolidated financial statements are issued. When management identifies conditions or events that raise substantial doubt about an entity's ability to continue as a going concern, the entity should disclose information that enables users of the consolidated financial statements to understand all of the following: (1) principal conditions or events that raised substantial doubt about the entity's ability to continue as a going concern (before consideration of management's plans); (2) management's evaluation of the significance of those conditions or events in relation to the entity's ability to meet its obligations; and (3) management's plans that alleviated substantial doubt about the entity's ability to continue as a going concern or management's plans that are intended to mitigate the conditions or events that raise substantial doubt about the entity's ability to continue as a going concern. The amendments in this update are effective for interim and annual reporting periods beginning after December 15, 2016 and early application is permitted. We are currently assessing this guidance for future implementation.

 

3.   Deferred Revenues

 

We defer license fees until we have met all accounting requirements for revenue recognition as per unit royalty products are distributed and royalty reports are received. Engineering development fee revenues are deferred until such time as the engineering work has been completed and accepted by our customers. As of June 30, 2015 and December 31, 2014, we had $1.9 million and $3.0 million, respectively, of deferred license fee revenue related to prepayments for future license fees from four and five customers, and a total of $1.1 million and $0.4 million, respectively, of deferred engineering development fees from one and five customers, respectively.

 

4.   Stockholders’ Equity

 

Common Stock

 

During the six months ended June 30, 2015, a warrant holder exercised warrants to purchase 80,000 shares of common stock using the cashless net exercise provision allowed in the warrant and received 69,632 shares of our common stock.

 

Preferred Stock

 

We have one class of preferred stock outstanding. The terms of the Series B Preferred stock are as follows:

 

Dividends and Distributions

 

The holders of shares of Series B Preferred stock are entitled to participate with the holders of our common stock with respect to any dividends declared on the common stock in proportion to the number of shares of common stock issuable upon conversion of the shares of Series B Preferred stock held by them.

 

Liquidation Preference

 

In the event of any liquidation, dissolution, or winding up of our operations, either voluntary or involuntary, subject to the rights of the Series B Preferred stock and Senior Preferred stock, shall be entitled to receive, after any distribution to the holders of senior preferred stock and prior to and in preference to any distribution to the holders of common stock, $0.001 for each share of Series B Preferred stock then outstanding.

 

Voting

 

The holders of shares of Series B Preferred stock have one vote for each share of Series B Preferred stock held by them.

 

14
 

 

Conversion

 

Initially, each share of Series B Preferred stock was convertible into one share of our common stock. On March 31, 2009, our stockholders approved a resolution to increase the authorized share capital, and to increase the conversion ratio to 132.07 shares of our common stock for each share of Series B Preferred stock.   

 

Conversion of Preferred Stock Issued to Common Stock

 

The following table summarizes the amounts as of June 30, 2015. 

 

   Shares of Preferred Stock Not Exchanged as of June 30, 2015   Conversion Ratio   Shares of Common Stock after Conversion of all Outstanding Shares of Preferred Stock Not yet Exchanged at June 30,
2015
 
                
Series B Preferred stock   83    132.07    10,962 

 

5.   Stock-Based Compensation

 

The stock-based compensation expense for the three and six months ended June 30, 2015 and 2014 reflects the estimated fair value of the vested portion of options granted to employees, directors and eligible consultants. In addition, on March 3, 2015, the Company issued to certain Swedish employees an aggregate of 265,000 immediately vested options to purchase shares of the Company’s common stock at an exercise price of $4.15 per share that expire on March 3, 2018. Under Sweden law, the employees are required to purchase the stock options from the Company that was recorded as stock-based compensation expense. The purchase price of the stock options was determined to be $0.70 per option for a total amount of $185,500. At the discretion of the Board of Directors, the Company absorbed the cost and recorded the amount as a bonus to these employees on date of grant. Stock-based compensation expense in the accompanying condensed consolidated statements of operations is as follows (in thousands):

 

   Three months ended 
June 30,
   Six months ended 
June 30,
 
   2015   2014   2015   2014 
Product research and development  $99   $92   $322   $360 
Sales and marketing   66    76    172    251 
General and administrative   9    175    278    804 
Total stock-based compensation expense  $174   $343   $772   $1,415 

 

   Remaining unrecognized
expense at
June 30,
2015
 
Stock-based compensation  $1,038 

 

The remaining unrecognized expense related to stock options will be recognized on a straight line basis monthly as compensation expense over the remaining vesting period, which approximates 1.9 years.

 

15
 

 

The estimated fair value of stock-based awards is calculated using the Black-Scholes option pricing model, even though this model was developed to estimate the fair value of freely tradable, fully transferable options without vesting restrictions, which differ significantly from our stock options. The Black-Scholes model also requires subjective assumptions, including future stock price volatility and expected time to exercise, which greatly affect the calculated values. The expected term and forfeiture rate of options granted is derived from historical data on employee exercises and post-vesting employment termination behavior, as well as expected behavior on outstanding options. The risk-free rate is based on the U.S. Treasury rates in effect during the corresponding period of grant. The expected volatility is based on the historical volatility of our stock price. These factors could change in the future, which would affect fair values of stock options granted in such future periods, and could cause volatility in the total amount of the stock-based compensation expense reported in future periods.

 

We have adopted equity incentive plans for which stock options and restricted stock awards are available to grant to employees, consultants and directors. Except for the 265,000 options issued to certain Swedish employees (see above), all employee, consultant and director stock options granted under our stock option plans have an exercise price equal to the market value of the underlying common stock on the grant date. There are no vesting provisions tied to performance conditions for any options, as vesting for all outstanding option grants was based only on continued service as an employee, consultant or director. All of our outstanding stock options and restricted stock awards are classified as equity instruments.

 

During the three and six months ended June 30, 2015, our shareholders approved the Neonode Inc. 2015 Stock Incentive Plan (the “2015 Plan”) which replaces our 2006 Equity Incentive Plan (the “2006 Plan”). Under the 2015 Plan, 2,100,000 shares of common stock have been reserved for awards, including nonqualified stock option grants and restricted stock grants to officers, employees, non-employee directors and consultants. The terms of the awards granted under the 2015 Plan are set by our compensation committee at its discretion. During the three and six months ended June 30, 2015, no stock options or restricted stock were granted under the 2015 Plan.

 

Accordingly, as of June 30, 2015 we had three equity incentive plans:

 

  · The 1998 Non-Officer Stock Option Plan (the “1998 Plan”), which expired in June 2008;
  · The 2006 Equity Incentive Plan; and
  · The 2015 Stock Incentive Plan

  

We also had one non-employee director stock option plan as of June 30, 2015:

 

·The 2001 Non-Employee Director Stock Option Plan (the “Director Plan”), which expired in March 2011.

 

A summary of the combined activity under all of the stock option plans is set forth below:

 

   Number of Options Outstanding   Weighted Average Exercise Price 
Outstanding at January 1, 2015   1,709,400   $4.92 
Granted   590,000    3.56 
Expired/forfeited   (3,200)   86.25 
Outstanding at June 30, 2015   2,296,200   $4.46 

 

The aggregate intrinsic value of the 2,296,200 stock options that are outstanding, vested and expected to vest as of June 30, 2015 was approximately $34,000.

 

For the three and six months ended June 30, 2015 and 2014, we recorded $0.2 million and $0.8 million and $0.3 million and $1.4 million, respectively, of compensation expense related to the vesting of stock options, including options granted to certain Swedish employees, as described above. The fair value of the stock-based compensation was calculated using the Black-Scholes option pricing model as of the date of grant of the stock option.

 

16
 

 

During the six months ended June 30, 2015, we granted options to purchase 500,000 shares of our common stock to employees and options to purchase 90,000 shares of our common stock to four members of our board of directors with a grant date fair value of $0.6 million computed using the Black-Scholes option pricing model. The total options granted includes 265,000 options issued to certain Swedish employees, as described above. The weighted-average grant date fair value of the options granted during the six months ended June 30, 2015 was $1.26 per share.

 

See below for assumptions used in the valuation of stock options:

 

    For the six months ended
    June 30,
2015
     
Annual dividend yield   -
Expected life (years)   1.50 - 4.35
Risk-free interest rate   0.47% - 1.41%
Expected volatility   68% - 72%

 

The 1998 Plan terminated effective June 15, 2008. Although we can no longer issue stock options out of the plans, the outstanding options at the date of termination will remain outstanding and vest in accordance with their terms. Options granted under the Director Plan vested over a one to four-year period, expire five to seven years after the date of grant and have exercise prices reflecting market value of the shares of our common stock on the date of grant. Stock options granted under the 1998 and 2006 Plans are exercisable over a maximum term of ten years from the date of grant, vest in various installments over a one to four-year period and have exercise prices reflecting the market value of the shares of common stock on the date of grant.

 

Warrants

 

A summary of all warrant activity is set forth below:

 

   June 30, 2015 
Outstanding and exercisable  Warrants   Weighted Average Exercise Price   Weighted Average
Remaining Contractual Life
 
January 1, 2015   3,335,073   $4.45    0.93 
   Granted   -    -    - 
   Expired/cancelled   (80,000)   0.50    - 
   Exercised   -    -    - 
Outstanding and exercisable, June 30, 2015   3,255,073   $4.55    0.42 

 

17
 

 

Outstanding Warrants to Purchase
Common Stock as of June 30, 2015:
                 
Description  Issue  Date   Exercise
Price
   Shares   Expiration Date 
                 
2007 Debt Extension Warrants   9/22/2010  $1.00    16,000    9/22/2015
December 2010 Employee Warrants   12/3/2010  $1.63    200,000    12/3/2015
February 2011 Legal Advisor Warrant   2/22/2011  $2.50    80,000    2/22/2016
March  2011 Investor Warrants   3/9/2011  $3.13    349,973    3/9/2016
March  2011 Investor Warrants   4/7/2011  $3.13    34,100    4/7/2016
May 2014 Agent Warrant   5/15/2014  $5.09    75,000    11/15/2015
May 2014 Investor Warrant   5/15/2014  $5.09    2,500,000    11/15/2015
Total Warrants Outstanding             3,255,073      

 

6. Commitments and Contingencies

 

Indemnities and Guarantees

 

We have agreed to indemnify each of our executive officers and directors for certain events or occurrences arising as a result of the officer or director serving in such capacity. The term of the indemnification period is for the officer’s or director’s lifetime. The maximum potential amount of future payments we could be required to make under these indemnification agreements is unlimited. However, we have a directors’ and officers’ liability insurance policy that should enable us to recover a portion of future amounts paid. As a result of our insurance policy coverage, we believe the estimated fair value of these indemnification agreements is minimal and have no liabilities recorded for these agreements as of June 30, 2015 and December 31, 2014.

 

We enter into indemnification provisions under our agreements with other companies in the ordinary course of business, typically with business partners, contractors, customers and landlords. Under these provisions we generally indemnify and hold harmless the indemnified party for losses suffered or incurred by the indemnified party as a result of our activities or, in some cases, as a result of the indemnified party’s activities under the agreement. These indemnification provisions often include indemnifications relating to representations made by us with regard to intellectual property rights. These indemnification provisions generally survive termination of the underlying agreement. The maximum potential amount of future payments we could be required to make under these indemnification provisions is unlimited. We have not incurred material costs to defend lawsuits or settle claims related to these indemnification agreements. As a result, we believe the estimated fair value of these agreements is minimal. Accordingly, we have no liabilities recorded for these indemnification provisions as of June 30, 2015 and December 31, 2014.

 

Non-recurring Engineering Development Costs

 

On February 4, 2011, we entered into an Analog Device Development Agreement with an effective date of January 24, 2010 (the “NN1001 Agreement”) with Texas Instruments (“TI”) pursuant to which TI integrated Neonode’s intellectual property into an Application Specific Integrated Circuit (“ASIC”) developed by TI. The NN1001 ASIC only can be sold by TI exclusively to licensees of Neonode. Under the terms of the NN1001 Agreement, we will reimburse TI up to $500,000 of non-recurring engineering (“NRE”) development costs based on shipments of the NN1001. Under the terms of the NN1001 Agreement, we will reimburse TI an NRE fee of $0.08 per unit for each of the first one million units sold and $0.05 for the next eight million units sold. During the three and six months ended June 30, 2015 and 2014, approximately $0 and $20,000 and $42,000 and $74,000, respectively, of NRE expense related to the NN1001 Agreement is included in product research and development in the condensed consolidated statements of operations. The $500,000 of NRE development costs under the NN1001 agreement has been reached. Through June 30, 2015, we made no payments under the NN1001 Agreement.

 

On April 25, 2013, we entered into an additional Analog Device Development Agreement with an effective date of December 6, 2012 (the “NN1002 Agreement”) with TI pursuant to which TI will integrate our intellectual property into an ASIC developed by TI. The NN1002 ASIC only can be sold by TI exclusively to licensees of Neonode. Under the terms of the NN1002 Agreement, we will reimburse TI up to $500,000 of NRE costs based on shipments of the NN1002. Under the terms of the NN1002 Agreement we will reimburse TI an NRE fee of $0.25 per unit for each of the first two million units sold. The NN1002 has been released to mass production, yet no expense has been recorded. Through June 30, 2015, we had made no payments under the NN1002 Agreement.

 

18
 

 

7.   Segment Information

 

We have one reportable segment, which is comprised of the touch technology licensing business. All of our sales for the three and six months ended June 30, 2015 and 2014 were to customers located in the U.S., Europe and Asia. Of our total assets, 74% and 85% were held in the U.S. as of June 30, 2015 and December 31, 2014, respectively, and 24% and 14% were held in Sweden, respectively.

 

The following table presents net revenues by geographic region for the three and six months ended June 30, 2015 and 2014 (in thousands):

 

   Three months ended
June 30, 2015
   Three months ended
June 30, 2014
 
   Amount   Percentage   Amount   Percentage 
Net revenues from customers in the Americas  $1,557    56%  $350    39%
Net revenues from customers in Asia   266    10%   515    61%
Net revenues from customers in Europe   953    34%   -    -%
   $2,776    100%  $865    100%

 

   Six months ended
June 30, 2015
   Six months ended
June 30, 2014
 
   Amount   Percentage   Amount   Percentage 
Net revenues from customers in the Americas  $3,250    65%  $1,018    54%
Net revenues from customers in Asia   679    13%   836    45%
Net revenues from customers in Europe   1,110    22%   25    1%
   $5,039    100%  $1,879    100%

 

8.   Net Loss per Share

 

Basic net loss per common share for the three and six months ended June 30, 2015 and 2014 was computed by dividing the net loss for the relevant period by the weighted average number of shares of common stock outstanding. Diluted loss per common share is computed by dividing net loss by the weighted average number of shares of common stock and common stock equivalents outstanding.

 

Potential common stock equivalents of approximately 43,000 and 0.3 million outstanding stock options and 0.2 million and 0.6 million outstanding stock warrants under the treasury stock method, and 11,000 and 11,000 shares issuable upon conversion of preferred stock are excluded from the diluted earnings per share calculation for the six months ended June 30, 2015 and 2014, respectively, due to their anti-dilutive effect.

 

(in thousands, except per share amounts)  Three months ended
June 30,
 
   2015   2014 
BASIC AND DILUTED        
Weighted average number of common shares outstanding   40,499    39,233 
Net loss  $(1,792)  $(3,874)
           
Net loss per share - basic and diluted  $(0.04)  $(0.10)

 

(in thousands, except per share amounts)  Six months ended
June 30,
 
   2015   2014 
BASIC AND DILUTED        
Weighted average number of common shares outstanding   40,477    38,587 
Net loss  $(3,864)  $(7,882)
           
Net loss per share - basic and diluted  $(0.10)  $(0.20)

 

19
 

 

9.  Subsequent Events

 

We have evaluated subsequent events through the filing date of this Form 10-Q, and determined that no subsequent events have occurred that would require recognition in the condensed consolidated financial statements or disclosure in the notes thereto other than as discussed in the accompanying notes.

 

20
 

 

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

 

Forward Looking Statements

 

This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, adopted pursuant to the Private Securities Litigation Reform Act of 1995. Statements that are not purely historical may be forward-looking. You can identify some forward-looking statements by the use of words such as “believes,” “anticipates,” “expects,” “intends” and similar expressions. Forward looking statements involve inherent risks and uncertainties regarding events, conditions and financial trends that may affect our future plans of operation, business strategy, results of operations and financial position. A number of important factors could cause actual results to differ materially from those included within or contemplated by such forward-looking statements, including, but not limited to risks relating to the uncertainty of growth in market acceptance for our technology, our history of losses since inception, our ability to remain competitive in response to new technologies, the costs to defend, as well as risks of losing, patents and intellectual property rights, a reliance on our future customers’ ability to develop and sell products that incorporate our technology, our customer concentration and dependence on a limited number of customers, the uncertainty of demand for our technology in certain markets, the length of a product development and release cycle, our ability to manage growth effectively, our dependence on key members of our management and development team, our remediation and detection of material weaknesses in our internal control over financial reporting and our ability to obtain adequate capital to fund future operations, For a discussion of these and other factors that could cause actual results to differ from those contemplated in the forward-looking statements, please see the discussion under “Risk Factors” contained in our Annual Report on Form 10-K for the fiscal year ended December 31, 2014 and in our publicly available filings with the Securities and Exchange Commission. Forward-looking statements reflect our analysis only as of the filing date of this Quarterly Report on Form 10-Q. Because actual events or results may differ materially from those discussed in or implied by forward-looking statements made by us or on our behalf, you should not place undue reliance on any forward-looking statement. We do not undertake responsibility to update or revise any of these factors or to announce publicly any revision to forward-looking statements, whether as a result of new information, future events or otherwise.

 

The following Management’s Discussion and Analysis should be read in conjunction with the condensed consolidated financial statements and the notes thereto included in Item 1 of this Quarterly Report on Form 10-Q and consolidated financial statements for the year ended December 31, 2014 included in our Annual Report on Form 10-K.

 

Neonode Inc., collectively with its subsidiaries, is referred to in this Form 10-Q as “Neonode”, “we”, “us”, “our”, “registrant”, or the “Company”.

 

Overview

 

Neonode develops and licenses user interfaces and optical infrared touch technology. Our patented technology offers multiple features including the ability to sense an object’s size, depth, velocity, pressure, and proximity to any type of surface. We offer our family of touch solutions under the name MultiSensing. Our MultiSensing offerings are based upon our patented technology we call zForce. We license our multi-touch technology to OEMs and ODMs who incorporate it into devices that they produce and sell. Our technology licensing model allows us to focus on the development of solutions for touchscreens and touch-enabled surfaces. We do not manufacture products or components.

 

As of June 30, 2015, we had thirty-eight technology license agreements with global OEMs and ODMs. During the six months ended June 30, 2015, we had fourteen customers using our touch technology in products that were being shipped to customers.

 

During the six months ended June 30, 2015, Neonode entered into a joint development and cooperation agreement, with Autoliv Development AB (“Autoliv”) to develop a new Human Machine Interface ("HMI") sensing product for vehicle steering wheel applications. Neonode will license its zForce DRIVE technology to Autoliv as part of the agreement. On April 9, 2015, Autoliv paid an initial $1.5 million to Neonode under the agreement and an additional $1.5 million in three staggered payments subject to, and after achievement of, project milestones during a 12 months period. The initial payment of $1.5 million was initially recorded as deferred revenue and is being amortized to revenue during the 12 month development period, beginning in the second quarter of 2015. The additional $1.5 million will be recognized as revenue as project milestones are completed. During the six months ended June 30, 2015, $375,000 of the initial payment and $500,000 related to completion of project milestones was recognized as revenue.

 

Results of Operations

 

Net Revenues

 

Net revenues for the three and six months ended June 30, 2015 were $2.8 million and $5.0 million, respectively, compared to net revenues for the three and six months ended June 30, 2014 of $0.9 million and $1.9 million, respectively. Our net revenues for the three and six months ended June 30, 2015 included $1.5 million and $3.3 million, respectively, from technology license fees and $1.3 million and $1.7 million, respectively, in non-recurring engineering services (“NRE”) related to our touch solutions for customers. Our net revenues for the three and six months ended June 30, 2014 included $0.4 million and $1.3 million, respectively, from technology license fees and $0.5 million and $0.6 million, respectively, in non-recurring engineering services (“NRE”) related to our touch solutions for customers.

 

The increase of 221% in net revenues for the three month period 2015 as compared to the same period in 2014 is primarily due to an increase in license fees of 74% from E-Reader customers including Amazon, a 795% increase from printer sales, and zero to $0.2 million increase in license fees from our automotive tier 1 customers supplying systems to OEM’s, including GM, Suzuki and Volvo, plus NRE revenues from customers. During the second quarter 2015, we received the initial payment of $1.5 million and completed the first development milestone under the joint development agreement between Autoliv and us and as a result recorded $875,000 of revenues comprised of $375,000 amortization of the initial $1.5 million payment and $500,000 related to the first milestone achievement.

 

The license fee revenue distribution per market for the second quarter 2015 is 51% for printers, 11% for automotive and 38% for E-Readers and tablets compared to 80% for E-Readers and tablets and 20% for printers, in the second quarter 2014. 

 

The increase of 168% in net revenues for the six months ended June 30, 2015 as compared to the same period in 2014 is primarily due to the same reasons as explained above for the second quarter.

 

21
 

 

Gross Margin

 

Gross margin was $2.0 million and $4.0 million for the three and six months ended June 30, 2015, respectively, compared to $0.4 million and $1.3 million for the same periods in 2014, respectively. Our cost of revenues includes the direct cost of production of certain customer prototypes, costs of Company employed engineering personnel and engineering consultants to complete the engineering design contract. Our gross margin has increased in the six months ended June 30, 2015 compared to the same period in 2014 due to the increase in our total revenues. The gross margin related to our license fees is 100%. As license fees as a percentage of our total revenue increase, our gross margin will increase.

 

Product Research and Development

 

Product research and development (“R&D”) expenses for the three and six months ended June 30, 2015 were $1.6 million and $3.2 million, respectively, compared to $1.7 million and $3.5 million for the same periods in 2014. The decrease is mainly related to lower costs for personnel due to a favorable currency exchange rate of the SEK compared to the U.S. Dollar. Since May 2014, we have manufactured the majority of prototypes needed in house at our own prototype lab. Previously, we outsourced all the prototype manufacturing process at a high cost. R&D costs mainly consist of personnel related costs in addition to some external consultancy costs, such as testing, certifying and measurements, along with costs related to developing and building new product prototypes. We continue to pursue and expand R&D expenditures on the development of our touch technologies. Included in R&D expenses is $99,000 and $322,000 of non-cash stock-based compensation expense for the three and six months ended June 30, 2015, respectively, compared to $92,000 and $360,000 for the same periods in 2014. 

 

Sales and Marketing

 

  Sales and marketing expenses for the three and six months ended June 30, 2015 were $1.0 million and $1.8 million, respectively, compared to $0.8 million and $1.8 million for the same periods in 2014. Included in sales and marketing expenses is $66,000 and $172,000 of non-cash stock-based compensation expense for the three and six months ended June 30, 2015, respectively, compared to $76,000 and $251,000 for the same periods in 2014. The expenses for the six months ended June 30, 2015 are the same compared to the same period in 2014 mainly due to favorable currency exchange rate differences in 2015. Our sales activities focus primarily on OEM customers who will integrate our touch technology into their products. Our OEM customers will then sell and market their products incorporating our technology to their customers. We are in the process of increasing our sales and engineering presence in Taiwan primarily to secure and service PC and ODM customers.

 

General and Administrative

 

General and administrative (“G&A”) expenses for the three and six months ended June 30, 2015 were $1.2 million and $2.8 million, respectively, compared to $1.8 million and $3.8 million for the same periods in 2014. This overall decrease in 2015 as compared to 2014 was primarily related to a decrease in legal expenses related to patent filings, corporate and SEC compliance. In addition, a portion of the decrease in the current quarter is related to favorable currency exchange rates. Included in G&A expenses is $9,000 and $278,000 of non-cash stock-based compensation expense for the three and six months ended June 30, 2015, respectively, compared to $175,000 and $804,000 for the same periods in 2014. These are stock options issued to employees, consultants and members of our Board of Directors.

 

Income Taxes

 

Our effective tax rate was 1% for the three and six months ended June 30, 2015, respectively, and 0% for the three and six months ended June 30, 2014. We recorded valuation allowances for the three and six month periods ended June 30, 2015 and 2014 for deferred tax assets related to net operating losses due to the uncertainty of realization.

 

Net Loss

 

As a result of the factors discussed above, we recorded a net loss of $1.8 million and $3.9 million for the three and six months ended June 30, 2015, respectively, compared to a net loss of $3.9 million and $7.9 million in the comparable periods in 2014.

 

Off-Balance Sheet Arrangements

 

We do not have any transactions, arrangements, or other relationships with unconsolidated entities that are reasonably likely to affect our liquidity or capital resources other than operating leases. We have no special purpose or limited purpose entities that provide off-balance sheet financing, liquidity, or market or credit risk support; or engage in leasing, hedging, research and development services, or other relationships that expose us to liability that is not reflected on the face of the condensed consolidated financial statements.

 

22
 

 

Contractual Obligations and Commercial Commitments

 

Non-Recurring Engineering Development Costs

 

On February 4, 2011, we entered into an Analog Device Development Agreement with an effective date of January 24, 2010 (the “NN1001 Agreement”) with Texas Instruments (“TI”) pursuant to which TI integrated Neonode’s intellectual property into an Application Specific Integrated Circuit (“ASIC”) developed by TI. The NN1001 ASIC only can be sold by TI exclusively to licensees of Neonode. Under the terms of the NN1001 Agreement, we will reimburse TI up to $500,000 of non-recurring engineering (“NRE”) development costs based on shipments of the NN1001. Under the terms of the NN1001 Agreement, we will reimburse TI an NRE fee of $0.08 per unit for each of the first one million units sold and $0.05 for the next eight million units sold. During the three and six months ended June 30, 2015 and 2014, approximately $20,000, respectively, and $42,000 and $74,000, respectively, of NRE expense related to the NN1001 Agreement is included in product research and development in the condensed consolidated statements of operations. The $500,000 of NRE development costs under the NN1001 agreement has been reached. Through June 30, 2015, we made no payments under the NN1001 Agreement.

 

On April 25, 2013, we entered into an additional Analog Device Development Agreement with an effective date of December 6, 2012 (the “NN1002 Agreement”) with TI pursuant to which TI will integrate our intellectual property into an ASIC developed by TI. The NN1002 ASIC only can be sold by TI exclusively to licensees of Neonode. Under the terms of the NN1002 Agreement, we will reimburse TI up to $500,000 of NRE costs based on shipments of the NN1002. Under the terms of the NN1002 Agreement we will reimburse TI an NRE fee of $0.25 per unit for each of the first two million units sold. The NN1002 has been released to mass production. Through June 30, 2015, we had made no payments under the NN1002 Agreement.

 

Operating Leases

 

On March 22, 2012, we entered into a three year lease for 3,185 square feet of office space located at 2350 Mission College Blvd, Suite 190, Santa Clara, CA 95054 USA. The initial lease payment is $7,007 per month, increasing to $7,657 per month over the term of the lease. This lease is valid through July 31, 2015. The annual payment for this space equates to approximately $86,000 per year. On May 28, 2015, we entered into a three year lease for 6,508 square feet of office space located at 2674 North First Street, San Jose, CA 95134 USA. The annual payment for this space is $160,000. This lease is effective on August 1, 2015 and is valid to July 31, 2018.

  

On October 12, 2012, we entered into a two year lease for office space located at 608 Bureau Shinagawa, 4-1-6 Konan, Minato-ku, 108-0075 Tokyo, Japan. The lease payment is approximately $2,300 per month. This lease was valid through October 12, 2014. The lease was extended for two years and is valid until October 31, 2016 under the same terms and conditions. The annual payment for this space equates to approximately $27,000 per year.

 

On July 1, 2013, NTAB entered into a lease for 5,480 square feet of office space located at Storgatan 23C, Stockholm, Sweden for approximately $38,000 per month including property tax (excluding VAT). The annual payment for this space equates to approximately $458,000 per year including property tax (excluding VAT). This lease was valid through June 30, 2014. On July 1, 2014, the lease was extended and is valid through November 30, 2017 for approximately $415,000 per year. The lease can be extended on a yearly basis with three months written notice.

 

In January 2015, our subsidiary Neonode Korea Ltd. entered into a lease agreement located at B-1807, Daesung D-Polis. 543-1, Seoul, South Korea. This lease is valid through February 13, 2017. The annual payment for this space equates to approximately $23,000 per year.

 

In May 2015, our subsidiary Neonode Taiwan Ltd. entered into a lease agreement located at 16F, No. 89 Songren Rd, Taipei, Taiwan. This lease is valid through November 24, 2015. The annual payment for this space equates to approximately $4,000 per month.

 

23
 

 

A summary of future minimum payments under non-cancellable operating lease commitments as of June 30, 2015 is as follows (in thousands):

 

Year ending December 31,  Total 
2015 (remaining six months)  $326 
2016   621 
2017   544 
2018   94 
   $1,585 

 

Equipment Subject to Capital Lease

 

In April 2014, we entered into a lease for certain specialized milling equipment. Under the terms of the lease agreement we are obligated to purchase the equipment at the end of the original 6 year lease term for 10% of the original purchase price of the equipment. In accordance with relevant accounting guidance the lease is classified as a capital lease. The lease payments and depreciation period began on July 1, 2014 when the equipment went into service. The implicit interest rate of the lease is 4% per annum.

 

Liquidity and Capital Resources

 

Our liquidity is dependent on many factors, including sales volume, operating profit and the efficiency of asset use and turnover. Our future liquidity will be affected by, among other things:

 

  actual versus anticipated licensing of our technology;
  actual versus anticipated operating expenses;
  timing of our OEM customer product shipments;
  timing of payment for our technology licensing agreements;
  actual versus anticipated gross profit margin;
  ability to raise additional capital, if necessary; and
  ability to secure credit facilities, if necessary.

 

As of June 30, 2015, we had cash of $3.2 million compared to $6.1 million as of December 31, 2014.

 

Working capital (current assets less current liabilities) was $(0.1) million as of June 30, 2015, compared to working capital of $3.0 million as of December 31, 2014.

 

Net cash used in operating activities for the six months ended June 30, 2015 was $2.8 million and was primarily the result of (1) a net loss of approximately $3.9 million and (2) approximately $0.2 million in net cash provided by changes in operating assets and liabilities and (3) approximately $0.9 million in non-cash operating expenses, comprised of depreciation and amortization, loss on disposal of property and equipment and stock-based compensation.

 

24
 

 

Accounts receivable decreased by approximately $0.4 million as of June 30, 2015 compared with December 31, 2014. This is due to the timing of the payments received from customers.

 

Deferred revenues decreased by approximately $0.4 million during the six months ended June 30, 2015 compared with December 31, 2014, primarily as a result of the completion of NRE services as noted in the increase in NRE revenues.

 

Net cash used in operating activities for the six months ended June 30, 2014 was $6.0 million and was primarily the result of (1) a net loss of approximately $7.9 million and (2) approximately $0.4 million in net cash provided by changes in operating assets and liabilities and (3) approximately $1.5 million in non-cash operating expenses, comprised of depreciation and amortization and stock-based compensation.

 

In the six months ended June 30, 2015 and 2014, we purchased approximately $36,000 and $86,000 respectively, of property and equipment, primarily furniture and test equipment.

 

Net cash used in financing activities of $29,000 was the result of principal payments on capital lease during the six months ended June 30, 2015. 

 

Net cash provided by financing activities was the result of net proceeds of approximately $9.3 million from the sale of our common stock and $36,000 received in connection with the exercise of warrants to purchase 11,500 shares of our common stock during the six months ended June 30, 2014.

 

We have incurred significant operating losses and negative cash flows from operations since our inception. The Company incurred net losses of approximately $1.8 million and $3.9 million and $3.9 million and $7.9 million for the three and six months ended June 30, 2015 and 2014, respectively, and had an accumulated deficit of approximately $169.8 million and $165.9 million as of June 30, 2015 and December 31, 2014, respectively. In addition, the Company used cash in operating activities of approximately $2.8 million and $6.0 million for the six months ended June 30, 2015 and 2014, respectively.

 

In June 2014, we filed a shelf registration statement with the SEC that became effective on June 12, 2014. We may from time to time issue shares of our common stock under our shelf registration in amounts, at prices, and on terms to be announced when and if the securities are offered. The specifics of any future offerings, along with the use of proceeds of any securities offered, will be described in a prospectus supplement and any other offering materials, at the time of the offering. There are 5,000,000 shares registered and available for issuance under our shelf registration.

  

We expect that our revenues will continue to increase, which will provide us with improved cash flows from operations for at least the next twelve months. In the event that we are unable to meet our revenue targets, we will have to explore alternative methods to conserve our cash position. Should we find it necessary to delay or scale back certain activities, our business, financial condition, and results of operations could be materially affected. While there is no assurance that the Company can meet its revenue targets, management anticipates that it can continue operations for at least the next twelve months.

 

In the future, we may require sources of capital in addition to cash on hand to continue operations and to implement our strategy. If our operations do not become cash flow positive, we may be forced to seek credit line facilities from financial institutions, equity investments or debt arrangements. No assurances can be given that we will be successful in obtaining such additional financing on reasonable terms, or at all. If adequate funds are not available on acceptable terms, or at all, we may be unable to adequately fund our business plans and it could have a negative effect on our business, results of operations and financial condition. In addition, if funds are available, the issuance of equity securities or securities convertible into equity could dilute the value of shares of our common stock and cause the market price to fall, and the issuance of debt securities could impose restrictive covenants that could impair our ability to engage in certain business transactions.

 

The functional currency of our foreign subsidiaries is the applicable local currency, the Swedish Krona, the Japanese Yen, the South Korean Won and the Taiwan Dollar. They are subject to foreign currency exchange rate risk. Any increase or decrease in the exchange rate of the U.S. Dollar compared to the Swedish Krona, Japanese Yen, South Korean Won or Taiwan Dollar will impact our future operating results.

 

25
 

 

Critical Accounting Policies

 

There have been no material changes from the critical accounting policies as previously disclosed in our Annual Report on Form 10-K for the fiscal year ended December 31, 2014.

 

Item 3. Quantitative and Qualitative Disclosures about Market Risk

 

The functional currency of our foreign subsidiaries is the applicable local currency, the Swedish Krona, the Japanese Yen, the South Korean Won and the Taiwan Dollar, and is subject to foreign currency exchange rate risk. Any increase or decrease in the exchange rate of the U.S. Dollar compared to the Swedish Krona, Japanese Yen, South Korean Won or Taiwan Dollar will impact our future operating results. Our consolidated net revenues for the six months ended June 30, 2015 are denominated in US Dollars and approximately 66% of our consolidated operating costs for the six months ended June 30, 2015 are denominated in Swedish Krona, Japanese Yen, South Korean Won and Taiwan Dollar. We do not currently enter into forward-exchange contracts to hedge exposure denominated in foreign currencies or any other derivative financial instruments for trading or speculative purposes. In the future, if our operations change and we determine that our foreign exchange exposure has increased, we may consider entering into hedging transactions to mitigate such risk.

 

Item 4. Controls and Procedures

 

Evaluation of disclosure controls and procedures

 

Under the supervision of and with the participation of our management, including our Chief Executive Officer and Chief Financial Officer, we evaluated the effectiveness of our disclosure controls and procedures (as such term is defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act) as of June 30, 2015. Based upon that evaluation, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures were effective.

 

Changes in internal control over financial reporting

 

There were no changes in our internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) during the period covered by this report that have materially affected or are reasonably likely to materially affect, our internal control over financial reporting.

 

PART II. Other Information

 

Item 1. Legal Proceedings

 

We are not currently involved in any material legal proceedings. However, from time to time, we may become subject to legal proceedings, claims, and litigation arising in the ordinary course of business, including, but not limited to, employee, customer and vendor disputes.

 

Item 1A. Risk Factors

 

There have been no material changes from the risk factors as previously disclosed in our Annual Report on Form 10-K for the year ended December 31, 2014.

 

Item 6. Exhibits

 

Exhibit #   Description
3.1   Amended and Restated Certificate of Incorporation of Neonode Inc., dated April 17, 2009 (incorporated by reference to Exhibit 10.22 of our Quarterly Report on Form 10-Q filed on August 4, 2009 (file no. 0-08419))
3.1.1   Certificate of Amendment, dated December 13, 2010 (incorporated by reference to Exhibit 3.1.1 of our Annual Report on Form 10-K filed on March 31, 2011 (file no. 0-08419))
3.1.2  

Certificate of Amendment, dated March 18, 2011 (incorporated by reference to Exhibit 3.1 of our Current Report on

Form 8-K filed on March 28, 2011 (file no. 0-08419))

3.1.3  

Certificate of Correction, dated February 29, 2011 (incorporated by reference to Exhibit 3.1.3 of our Annual Report

on Form 10-K filed on March 30, 2012 (file no. 0-08419))

3.2   Bylaws (incorporated by reference to Exhibit 3.2 of our Annual Report on Form 10-K filed on April 15, 2008 (file no. 0-08419))
31.1   Certification of Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act Of 2002*
31.2   Certification of Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act Of 2002*
32  

Certifications pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002*

 

* Filed herewith

 

101.INS   XBRL Instance Document
101.SCH   XBRL Taxonomy Extension Schema Document
101.CAL   XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF   XBRL Taxonomy Extension Definition Linkbase Document
101.LAB   XBRL Taxonomy Extension Label Linkbase Document
101.PRE   XBRL Taxonomy Extension Presentation Linkbase Document

 

26
 

 

SIGNATURES

 

Pursuant to the requirements 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.

 

  NEONODE INC.
     
Date:  August 6, 2015 By: /s/ Lars Lindqvist
    Lars Lindqvist
    Chief Financial Officer,
    Vice President, Finance,
    Treasurer and Secretary
    (Principal Financial and
    Accounting Officer)

 

 

27

 

EX-31.1 2 f10q0615ex31i_neonodeinc.htm CERTIFICATION

Exhibit 31.1

 

Certification OF PRINCIPAL EXECUTIVE OFFICER Pursuant to Section 302 of the
Sarbanes-Oxley Act of 2002

 

I, Thomas Eriksson, certify that:

 

1. I have reviewed this quarterly report on Form 10-Q of Neonode 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 officer 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 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:  August 6, 2015 By: /s/ Thomas Eriksson
    Thomas Eriksson
    President and Chief Executive Officer

 

 

EX-31.2 3 f10q0615ex31ii_neonodeinc.htm CERTIFICATION

Exhibit 31.2

 

Certification OF PRINCIPAL FINANCIAL OFFICER Pursuant to Section 302 of the
Sarbanes-Oxley Act of 2002

 

I, Lars Lindqvist, certify that:

 

1. I have reviewed this quarterly report on Form 10-Q of Neonode 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 officer 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 fiscal fourth 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 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:  August 6, 2015 By: /s/ Lars Lindqvist
    Lars Lindqvist
    Chief Financial Officer,
    Vice President, Finance,
   

Treasurer and Secretary

 

 

EX-32.1 4 f10q0615ex32i_neonodeinc.htm CERTIFICATION

Exhibit 32.1

 

CERTIFICATIONS 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 Neonode Inc. (the “Company”) on Form 10-Q for the fiscal period ended June 30, 2015 as filed with the Securities and Exchange Commission (the “Report”), the undersigned principal executive officer and principal financial officer of the Company, each hereby certify, solely for purposes of 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to our knowledge:

 

1.The Report fully complies with the requirements of Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934, as amended; and
2.The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

 

Date:  August 6, 2015 By: /s/ Thomas Eriksson
    Thomas Eriksson
    President and Chief Executive Officer
     
Date:  August 6, 2015 By: /s/ Lars Lindqvist
    Lars Lindqvist
    Chief Financial Officer,
    Vice President, Finance,
    Treasurer and Secretary

 

This certification is not deemed filed with the Securities and Exchange Commission and is not to be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Securities Act of 1934, as amended, whether made before or after the date of the Report, irrespective of any general incorporation language contained in such filing.

 

EX-101.PRE 5 neond-20150630_pre.xml XBRL PRESENTATION FILE EX-101.INS 6 neond-20150630.xml XBRL INSTANCE FILE 0000087050 us-gaap:SeriesBPreferredStockMember 2009-03-01 2009-03-31 0000087050 2010-01-20 2010-01-24 0000087050 2012-12-01 2012-12-06 0000087050 2013-12-31 0000087050 2014-04-01 2014-06-30 0000087050 us-gaap:ResearchAndDevelopmentExpenseMember 2014-04-01 2014-06-30 0000087050 us-gaap:SellingAndMarketingExpenseMember 2014-04-01 2014-06-30 0000087050 us-gaap:GeneralAndAdministrativeExpenseMember 2014-04-01 2014-06-30 0000087050 us-gaap:EuropeMember 2014-04-01 2014-06-30 0000087050 us-gaap:AsiaMember 2014-04-01 2014-06-30 0000087050 country:US 2014-04-01 2014-06-30 0000087050 us-gaap:SalesRevenueNetMember 2014-04-01 2014-06-30 0000087050 neond:KoboIncMember us-gaap:SalesRevenueNetMember 2014-04-01 2014-06-30 0000087050 neond:NetronixIncMember us-gaap:SalesRevenueNetMember 2014-04-01 2014-06-30 0000087050 neond:HewlettPackardMember us-gaap:SalesRevenueNetMember 2014-04-01 2014-06-30 0000087050 neond:WaveGroupLtdMember us-gaap:SalesRevenueNetMember 2014-04-01 2014-06-30 0000087050 neond:ClarionIndustriesCoLtdMember us-gaap:SalesRevenueNetMember 2014-04-01 2014-06-30 0000087050 neond:DelphiElectronicsAndSafetyMember us-gaap:SalesRevenueNetMember 2014-04-01 2014-06-30 0000087050 2014-01-01 2014-06-30 0000087050 us-gaap:ResearchAndDevelopmentExpenseMember 2014-01-01 2014-06-30 0000087050 us-gaap:SellingAndMarketingExpenseMember 2014-01-01 2014-06-30 0000087050 us-gaap:GeneralAndAdministrativeExpenseMember 2014-01-01 2014-06-30 0000087050 us-gaap:EuropeMember 2014-01-01 2014-06-30 0000087050 us-gaap:AsiaMember 2014-01-01 2014-06-30 0000087050 country:US 2014-01-01 2014-06-30 0000087050 us-gaap:SalesRevenueNetMember 2014-01-01 2014-06-30 0000087050 neond:KoboIncMember us-gaap:SalesRevenueNetMember 2014-01-01 2014-06-30 0000087050 neond:NetronixIncMember us-gaap:SalesRevenueNetMember 2014-01-01 2014-06-30 0000087050 us-gaap:WarrantMember 2014-01-01 2014-06-30 0000087050 us-gaap:StockOptionMember 2014-01-01 2014-06-30 0000087050 us-gaap:ConvertiblePreferredStockMember 2014-01-01 2014-06-30 0000087050 neond:SonyCorporationMember us-gaap:SalesRevenueNetMember 2014-01-01 2014-06-30 0000087050 neond:LeapFrogEnterprisesIncMember us-gaap:SalesRevenueNetMember 2014-01-01 2014-06-30 0000087050 2014-06-30 0000087050 2014-01-01 2014-12-31 0000087050 country:US 2014-01-01 2014-12-31 0000087050 neond:DeferredEngineeringDevelopmentFeesMember 2014-01-01 2014-12-31 0000087050 country:SE 2014-01-01 2014-12-31 0000087050 us-gaap:AccountsReceivableMember 2014-01-01 2014-12-31 0000087050 neond:PrepaymentsFromFutureLicenseFeesMember 2014-01-01 2014-12-31 0000087050 2014-12-31 0000087050 us-gaap:SeriesBPreferredStockMember 2014-12-31 0000087050 us-gaap:WarrantMember 2014-12-31 0000087050 neond:DeferredEngineeringDevelopmentFeesMember 2014-12-31 0000087050 neond:PrepaymentsFromFutureLicenseFeesMember 2014-12-31 0000087050 us-gaap:EmployeeStockOptionMember 2014-12-31 0000087050 2015-04-01 2015-06-30 0000087050 us-gaap:ResearchAndDevelopmentExpenseMember 2015-04-01 2015-06-30 0000087050 us-gaap:SellingAndMarketingExpenseMember 2015-04-01 2015-06-30 0000087050 us-gaap:GeneralAndAdministrativeExpenseMember 2015-04-01 2015-06-30 0000087050 us-gaap:EuropeMember 2015-04-01 2015-06-30 0000087050 us-gaap:AsiaMember 2015-04-01 2015-06-30 0000087050 country:US 2015-04-01 2015-06-30 0000087050 us-gaap:SalesRevenueNetMember 2015-04-01 2015-06-30 0000087050 neond:HewlettPackardMember us-gaap:SalesRevenueNetMember 2015-04-01 2015-06-30 0000087050 neond:AmazonIncMember us-gaap:SalesRevenueNetMember 2015-04-01 2015-06-30 0000087050 neond:AutolivDevelopmentAbMember us-gaap:SalesRevenueNetMember 2015-04-01 2015-06-30 0000087050 2015-01-01 2015-06-30 0000087050 us-gaap:SeriesBPreferredStockMember 2015-01-01 2015-06-30 0000087050 us-gaap:ResearchAndDevelopmentExpenseMember 2015-01-01 2015-06-30 0000087050 us-gaap:SellingAndMarketingExpenseMember 2015-01-01 2015-06-30 0000087050 us-gaap:GeneralAndAdministrativeExpenseMember 2015-01-01 2015-06-30 0000087050 us-gaap:EuropeMember 2015-01-01 2015-06-30 0000087050 us-gaap:AsiaMember 2015-01-01 2015-06-30 0000087050 country:US 2015-01-01 2015-06-30 0000087050 us-gaap:SalesRevenueNetMember 2015-01-01 2015-06-30 0000087050 neond:HewlettPackardMember us-gaap:SalesRevenueNetMember 2015-01-01 2015-06-30 0000087050 us-gaap:WarrantMember 2015-01-01 2015-06-30 0000087050 us-gaap:StockOptionMember 2015-01-01 2015-06-30 0000087050 us-gaap:ConvertiblePreferredStockMember 2015-01-01 2015-06-30 0000087050 neond:DeferredEngineeringDevelopmentFeesMember 2015-01-01 2015-06-30 0000087050 country:SE 2015-01-01 2015-06-30 0000087050 us-gaap:AccountsReceivableMember 2015-01-01 2015-06-30 0000087050 neond:PrepaymentsFromFutureLicenseFeesMember 2015-01-01 2015-06-30 0000087050 us-gaap:EmployeeStockOptionMember 2015-01-01 2015-06-30 0000087050 neond:AmazonIncMember us-gaap:SalesRevenueNetMember 2015-01-01 2015-06-30 0000087050 neond:AutolivDevelopmentAbMember us-gaap:SalesRevenueNetMember 2015-01-01 2015-06-30 0000087050 us-gaap:MinimumMember 2015-01-01 2015-06-30 0000087050 us-gaap:MaximumMember 2015-01-01 2015-06-30 0000087050 neond:MayTwoThousandFourteenInvestorWarrantMember 2015-01-01 2015-06-30 0000087050 neond:MayTwoThousandFourteenAgentWarrantMember 2015-01-01 2015-06-30 0000087050 us-gaap:ComputerEquipmentMember 2015-01-01 2015-06-30 0000087050 us-gaap:FurnitureAndFixturesMember 2015-01-01 2015-06-30 0000087050 neond:DebtExtensionWarrantsMember 2015-01-01 2015-06-30 0000087050 neond:DecemberTwoThousandTenEmployeeWarrantsMember 2015-01-01 2015-06-30 0000087050 neond:FebruaryTwoThousandElevenLegalAdvisorWarrantMember 2015-01-01 2015-06-30 0000087050 neond:MarchTwoThousandElevenInvestorWarrantsOneMember 2015-01-01 2015-06-30 0000087050 us-gaap:WarrantMember 2015-01-01 2015-06-30 0000087050 neond:MarchTwoThousandElevenInvestorWarrantsMember 2015-01-01 2015-06-30 0000087050 us-gaap:CommonStockMember 2015-01-01 2015-06-30 0000087050 2015-06-30 0000087050 us-gaap:SeriesBPreferredStockMember 2015-06-30 0000087050 us-gaap:WarrantMember 2015-06-30 0000087050 neond:DeferredEngineeringDevelopmentFeesMember 2015-06-30 0000087050 neond:PrepaymentsFromFutureLicenseFeesMember 2015-06-30 0000087050 us-gaap:EmployeeStockOptionMember 2015-06-30 0000087050 neond:MayTwoThousandFourteenInvestorWarrantMember 2015-06-30 0000087050 neond:MayTwoThousandFourteenAgentWarrantMember 2015-06-30 0000087050 neond:DebtExtensionWarrantsMember 2015-06-30 0000087050 neond:DecemberTwoThousandTenEmployeeWarrantsMember 2015-06-30 0000087050 neond:FebruaryTwoThousandElevenLegalAdvisorWarrantMember 2015-06-30 0000087050 neond:MarchTwoThousandElevenInvestorWarrantsOneMember 2015-06-30 0000087050 neond:MarchTwoThousandElevenInvestorWarrantsMember 2015-06-30 0000087050 us-gaap:CommonStockMember 2015-06-30 0000087050 2015-08-03 xbrli:shares iso4217:USD iso4217:USDxbrli:shares iso4217:JPY iso4217:SEK iso4217:KRW xbrli:pure neond:Customers neond:Segment Neonode, Inc 0000087050 false --12-31 10-Q 2015-06-30 2015 Q2 Yes Accelerated Filer 40524984 8815000 12048000 6129000 3159000 1106000 681000 200000 725000 513000 560000 7948000 5125000 654000 533000 8602000 5658000 566000 884000 935000 1255000 3403000 400000 3000000 3016000 1100000 1900000 61000 57000 4965000 5212000 367000 315000 5332000 5527000 40000 40000 169010000 169782000 149000 102000 -165929000 -169793000 3270000 131000 8602000 5658000 54425 54425 0.001 0.001 83 83 83 83 0.001 0.001 70000000 70000000 0.001 0.001 40455352 40524984 40455352 40524984 865000 515000 350000 1879000 25000 836000 1018000 2776000 953000 266000 1557000 5039000 1110000 679000 3250000 452000 618000 737000 1075000 413000 1261000 2039000 3964000 1742000 3526000 1629000 3208000 756000 1798000 953000 1803000 1789000 3818000 1194000 2756000 4287000 9142000 3776000 7767000 -3874000 -7881000 -1737000 -3803000 -4000 -8000 28000 28000 32000 36000 -3874000 -7881000 -1769000 -3839000 1000 23000 25000 -3874000 -7882000 -1792000 -3864000 -0.10 -0.20 -0.04 -0.10 39233 38587 40499 40477 30000 65000 -49000 -47000 -3844000 -7817000 -1841000 -3911000 1415000 772000 -28000 83000 93000 -236000 -424000 44000 528000 61000 70000 429000 711000 -186000 -385000 -6010000 -2819000 86000 36000 -86000 -36000 9254000 36000 29000 9290000 -29000 39000 -86000 3233000 -2970000 1000 37000 8000 530000 <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><b>1. Interim Period Reporting</b></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px 0px 0px 0.5in; text-indent: 0.5in;"><b>&#160;</b></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">The accompanying unaudited interim condensed consolidated financial statements, include all adjustments, consisting of normal recurring adjustments that are, in the opinion of management, necessary for a fair presentation of the financial position and results of operations and cash flows for the interim periods presented. The results of operations for the three and six months ended June 30, 2015 are not necessarily indicative of results for a full fiscal year or any other period.</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px 0px 0px 0.5in; text-indent: 0.5in;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 6pt 0px 0px; text-indent: 0.5in;">The accompanying condensed consolidated financial statements for the three and six months ended June 30, 2015 and 2014 have been prepared by us, pursuant to the rules and regulations of the United States (&#8220;U.S.&#8221;) Securities and Exchange Commission (&#8220;SEC&#8221;). Certain information and footnote disclosures normally contained in financial statements prepared in accordance with accounting principles generally accepted in the U.S. (&#8220;U.S. GAAP&#8221;) have been condensed or omitted. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto contained in our Annual Report on Form 10-K for the fiscal year ended December&#160;31, 2014.</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><b><i>Operations</i></b></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px 0px 0px 0.5in; text-indent: 0.5in;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;">Neonode Inc. (collectively with its subsidiaries, is referred to in this Form 10-Q Report as &#8220;Neonode&#8221;, &#8220;we&#8221;, &#8220;us&#8221;, &#8220;our&#8221; or the &#8220;Company&#8221;), develops and licenses user interfaces and optical infrared touch technology. We license our multi-touch technology to Original Equipment Manufacturers (&#8220;OEMs&#8221;) and Original Design Manufacturers (&#8220;ODMs&#8221;) who incorporate it into devices that they produce and sell.</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><b><i>Liquidity</i></b></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; line-height: 15.3333320617676px; margin: 0px; text-indent: 0.5in;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">We have incurred significant operating losses and negative cash flows from operations since our inception. The Company incurred net losses of approximately $1.8 million and $3.9 million and $3.9 million and $7.9 million for the three and six months ended June 30, 2015 and 2014, respectively, and had an accumulated deficit of approximately $169.8 million and $165.9 million as of June 30, 2015 and December 31, 2014, respectively. In addition, the Company used cash in operating activities of approximately $2.8 million and $6.0 million for the six months ended June 30, 2015 and 2014, respectively.</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">In June 2014, we filed a shelf registration statement with the SEC that became effective on June 12, 2014. We may from time to time issue shares of our common stock under our shelf registration in amounts, at prices, and on terms to be announced when and if the securities are offered. The specifics of any future offerings, along with the use of proceeds of any securities offered, will be described in a prospectus supplement and any other offering materials, at the time of the offering. There are 5,000,000 shares registered and available for issuance under our shelf registration.</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">We believe that we have sufficient cash to operate for the next twelve months. While there is no assurance that the Company can meet its cash flow, management anticipates that it can continue operations for at least the next twelve months.</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">In the future, we may require sources of capital in addition to cash on hand to continue operations and to implement our strategy. If our operations do not become cash flow positive, we may be forced to seek credit line facilities from financial institutions, equity investments or debt arrangements. No assurances can be given that we will be successful in obtaining such additional financing on reasonable terms, or at all. If adequate funds are not available on acceptable terms, or at all, we may be unable to adequately fund our business plans and it could have a negative effect on our business, results of operations and financial condition. In addition, if funds are available, the issuance of equity securities or securities convertible into equity could dilute the value of shares of our common stock and cause the market price to fall, and the issuance of debt securities could impose restrictive covenants that could impair our ability to engage in certain business transactions.</p> <div> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><b>2.</b>&#160;&#160;&#160;<b>Summary of Significant Accounting Policies</b></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px 0px 0px 0.5in; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><b><i>Principles of Consolidation</i></b></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px 0px 0px 0.5in; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">The consolidated financial statements have been prepared in accordance with U.S. GAAP and include the accounts of Neonode Inc. and its wholly owned subsidiaries. All inter-company accounts and transactions have been eliminated in consolidation.</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">The unaudited condensed consolidated balance sheet at June 30, 2015 and the unaudited condensed consolidated statements of operations and comprehensive loss for the three and six months ended June 30, 2015 and cash flows for the six months ended June 30, 2015, include our accounts and those of our wholly owned subsidiaries, Neonode Technologies AB (Sweden), Neonode Americas Inc. (U.S.), Neonode Japan Inc. (Japan), NEON Technology Inc. (U.S.), Neno User Interface Solutions AB (Sweden), Neonode Korea Ltd. (South Korea) and Neonode Taiwan Ltd. (Taiwan).</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">The audited condensed consolidated balance sheet at December 31, 2014 include our accounts and those of our wholly owned subsidiaries, Neonode Technologies AB (Sweden), Neonode Americas Inc. (U.S.), Neonode Japan Inc. (Japan), NEON Technology Inc. (U.S.), Neno User Interface Solutions AB (Sweden) and Neonode Korea Ltd. (South Korea). &#160;&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">The unaudited condensed consolidated statements of operations and comprehensive loss for the three and six months ended June 30, 2014 and cash flows for the six months ended June 30, 2014 include our accounts and those of our wholly owned subsidiaries, Neonode Technologies AB (Sweden), Neonode Americas Inc. (U.S.), Neonode Japan Inc. (Japan), NEON Technology Inc. (U.S.) and Neno User Interface Solutions AB (Sweden).&#160;&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><b><i>&#160;</i></b></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><b><i>Estimates</i></b></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">The preparation of consolidated financial statements in conformity with U.S. GAAP requires making estimates and assumptions that affect, at the date of the consolidated financial statements, the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities and the reported amounts of revenue and expenses. Actual results could differ from these estimates. Significant estimates include, but are not limited to, collectability of accounts receivable, the achievement of substantive milestones and vendor-specific objective evidence (&#8220;VSOE&#8221;) of fair value for purposes of revenue recognition (or deferral of revenue), recoverability of capitalized project costs and long-lived assets, the valuation allowance related to our deferred tax assets and the fair value of options and warrants issued for stock-based compensation.</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><b><i>Concentration of Cash Balance Risks</i></b></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Cash balances are maintained at various banks in the U.S., Japan, Korea, Taiwan and Sweden. At times, deposits held with financial institutions in the U.S. may exceed the amount of insurance provided by the U.S. Federal Deposit Insurance Corporation, which provides basic deposit coverage with limits up to $250,000 per owner. The Swedish government provides insurance coverage up to 100,000 Euro per customer and covers deposits in all types of accounts. The Japanese government provides insurance coverage up to 10,000,000 Yen per customer. The Korea Deposit Insurance Corporation provides insurance coverage up to 50,000,000 Won per customer. The Central Deposit Insurance Corporation in Taiwan provides insurance coverage up to 3,000,000 Taiwan Dollar per customer. As of June 30, 2015, we had approximately $2.7 million in excess of insurance limits.</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px 0px 0px 0.5in; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><b><i>Accounts Receivable and Allowance for Doubtful Accounts&#160;&#160;</i></b></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px 0px 0px 0.5in; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Our accounts receivable are stated at net realizable value. Our policy is to maintain allowances for estimated losses resulting from the inability of our customers to make required payments. Credit limits are established through a process of reviewing the financial history and stability of each customer. Where appropriate, we obtain credit rating reports and financial statements of the customer when determining or modifying its credit limits. We regularly evaluate the collectability of our trade receivable balances based on a combination of factors. When a customer&#8217;s account balance becomes past due, we initiate dialogue with the customer to determine the cause. If it is determined that the customer will be unable to meet its financial obligation, such as in the case of a bankruptcy filing, deterioration in the customer&#8217;s operating results or financial position or other material events impacting its business, we record a specific allowance to reduce the related receivable to the amount we expect to recover. Should all efforts fail to recover the related receivable, we will write-off the account. We also record an allowance for all customers based on certain other factors including the length of time the receivables are past due and historical collection experience with customers. Our allowance for doubtful accounts was $167,000 as of June 30, 2015 and December 31, 2014.</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px 0px 0px 0.5in; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><b><i>&#160;</i></b></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><b><i>Projects in Process</i></b></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px 0px 0px 0.5in; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><b><i>&#160;</i></b></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Projects in process consist of costs incurred toward the completion of various projects for certain customers. These costs are primarily comprised of direct engineering labor costs and project-specific equipment costs. These costs are capitalized on our consolidated balance sheet as an asset and deferred until revenue for each project is recognized in accordance with our revenue recognition policy. Costs capitalized in projects in process were $725,000 and $200,000 as of June 30, 2015 and December 31, 2014, respectively.</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px 0px 0px 0.5in; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><b><i>Property and Equipment</i></b></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px 0px 0px 0.5in; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Property and equipment are stated at cost, net of accumulated depreciation and amortization. Depreciation and amortization are computed using the straight-line method based upon estimated useful lives of the assets as follows:</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><u>Estimated useful lives</u></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <table align="center" style="width: 940px; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman', times, serif; font-size: 10pt; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: top; background-color: #cceeff;"> <td style="padding: 0px; width: 470px; text-indent: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">Computer equipment</font></td> <td style="padding: 0px; width: 470px; text-indent: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">3 years</font></td> </tr> <tr style="vertical-align: top; background-color: white;"> <td style="padding: 0px; text-indent: 0px;">Furniture and&#160;&#160;fixtures</td> <td style="padding: 0px; text-indent: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">5 years</font></td> </tr> </table> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Equipment purchased under capital leases is amortized on a straight-line basis over the estimated useful life of the asset or the term of the lease, whichever is shorter.</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Upon retirement or sale of property and equipment, cost and accumulated depreciation and amortization are removed from the accounts and any gains or losses are reflected in the consolidated statement of operations. Maintenance and repairs are charged to expense as incurred.</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px 0px 0px 0.5in; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><b><i>Long-lived Assets</i></b></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px 0px 0px 0.5in; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">We assess any impairment by estimating the future cash flow from the associated asset in accordance with relevant accounting guidance. If the estimated undiscounted future cash flow related to these assets decreases or the useful life is shorter than originally estimated, we may incur charges for impairment of these assets.&#160;As of June 30, 2015, we believe there was no impairment of our long-lived assets. There can be no assurance, however, that market conditions will not change or sufficient demand for our products and services will continue, which could result in impairment of long-lived assets in the future.</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px 0px 0px 0.5in; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><b><i>Foreign Currency Translation and Transaction Gains and Losses</i></b></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px 0px 0px 0.5in; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.55in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">The functional currency of our foreign subsidiaries is the applicable local currency, the Swedish Krona, the Japanese Yen, the South Korean Won and the Taiwan Dollar. The translation from Swedish Krona, Japanese Yen, South Korean Won and Taiwan Dollar to U.S. Dollars is performed for balance sheet accounts using current exchange rates in effect at the balance sheet date and for income statement accounts using a weighted-average exchange rate during the period. Gains or (losses) resulting from translation are included as a separate component of accumulated other comprehensive income (loss). Foreign currency translation losses were $(49,000) and $(47,000) during the three and six months ended June 30, 2015, respectively, compared to translation gains of $30,000 and $65,000 during the same periods in 2014, respectively. Gains resulting from foreign currency transactions are included in general and administrative expenses in the accompanying consolidated statements of operations and were $5,000 and $31,000 during the three and six months ended June 30, 2015, respectively, compared to $8,000 and $34,000 during the same periods in 2014, respectively.</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.55in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><b><i>Concentration of Credit and Business Risks</i></b></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Our customers are located in U.S., Europe and Asia.</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">As of June 30, 2015, two customers represented approximately 90% of the Company&#8217;s accounts receivable.&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">As of December 31, 2014, three customers represented approximately 87% of the Company&#8217;s accounts receivable.&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Our net revenues for the three and six months ended June 30, 2015 were earned from twenty-one and twenty-seven customers, respectively. Customers who accounted for 10% or more of our net revenues during the three months ended June 30, 2015 are as follows:</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: top;"> <td style="padding: 0px; width: 0.75in; text-indent: 0px;"></td> <td style="padding: 0px; width: 0.25in; text-indent: 0px;"><font style="font-family: symbol;">&#183;</font></td> <td style="padding: 0px; text-indent: 0px;">Autoliv Development AB &#8211; 31%</td> </tr> </table> <table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: top;"> <td style="padding: 0px; width: 0.75in; text-indent: 0px;"></td> <td style="padding: 0px; width: 0.25in; text-indent: 0px;"><font style="font-family: symbol;">&#183;</font></td> <td style="padding: 0px; text-indent: 0px;">Hewlett Packard Company &#8211; 28%</td> </tr> </table> <table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: top;"> <td style="padding: 0px; width: 0.75in; text-indent: 0px;"></td> <td style="padding: 0px; width: 0.25in; text-indent: 0px;"><font style="font-family: symbol;">&#183;</font></td> <td style="padding: 0px; text-indent: 0px;">Amazon &#8211; 11%</td> </tr> </table> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Customers who accounted for 10% or more of our net revenues during the six months ended June 30, 2015 are as follows:</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: top;"> <td style="padding: 0px; width: 0.75in; text-indent: 0px;"></td> <td style="padding: 0px; width: 0.25in; text-indent: 0px;"><font style="font-family: symbol;">&#183;</font></td> <td style="padding: 0px; text-indent: 0px;">Hewlett Packard Company &#8211; 29%</td> </tr> </table> <table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: top;"> <td style="padding: 0px; width: 0.75in; text-indent: 0px;"></td> <td style="padding: 0px; width: 0.25in; text-indent: 0px;"><font style="font-family: symbol;">&#183;</font></td> <td style="padding: 0px; text-indent: 0px;">Amazon &#8211; 19%</td> </tr> </table> <table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: top;"> <td style="padding: 0px; width: 0.75in; text-indent: 0px;"></td> <td style="padding: 0px; width: 0.25in; text-indent: 0px;"><font style="font-family: symbol;">&#183;</font></td> <td style="padding: 0px; text-indent: 0px;">Autoliv Development AB &#8211; 17%</td> </tr> </table> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px 0px 0px 1in; color: red; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Our net revenues for the three and six months ended June 30, 2014 were earned from nineteen and twenty-two customers. Customers who accounted for 10% or more of our net revenues during the three months ended June 30, 2014 are as follows:</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: top;"> <td style="padding: 0px; width: 0.75in; text-indent: 0px;"></td> <td style="padding: 0px; width: 0.25in; text-indent: 0px;"><font style="font-family: symbol;">&#183;</font></td> <td style="padding: 0px; text-indent: 0px;">Delphi Electronics and Safety &#8211; 14%</td> </tr> </table> <table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: top;"> <td style="padding: 0px; width: 0.75in; text-indent: 0px;"></td> <td style="padding: 0px; width: 0.25in; text-indent: 0px;"><font style="font-family: symbol;">&#183;</font></td> <td style="padding: 0px; text-indent: 0px;">Hewlett Packard Company &#8211; 12%</td> </tr> </table> <table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: top;"> <td style="padding: 0px; width: 0.75in; text-indent: 0px;"></td> <td style="padding: 0px; width: 0.25in; text-indent: 0px;"><font style="font-family: symbol;">&#183;</font></td> <td style="padding: 0px; text-indent: 0px;">Netronix Inc. &#8211; 11%</td> </tr> </table> <table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: top;"> <td style="padding: 0px; width: 0.75in; text-indent: 0px;"></td> <td style="padding: 0px; width: 0.25in; text-indent: 0px;"><font style="font-family: symbol;">&#183;</font></td> <td style="padding: 0px; text-indent: 0px;">KOBO Inc. &#8211; 15%</td> </tr> </table> <table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: top;"> <td style="padding: 0px; width: 0.75in; text-indent: 0px;"></td> <td style="padding: 0px; width: 0.25in; text-indent: 0px;"><font style="font-family: symbol;">&#183;</font></td> <td style="padding: 0px; text-indent: 0px;">Wave Group Ltd. &#8211; 11%</td> </tr> </table> <table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: top;"> <td style="padding: 0px; width: 0.75in; text-indent: 0px;"></td> <td style="padding: 0px; width: 0.25in; text-indent: 0px;"><font style="font-family: symbol;">&#183;</font></td> <td style="padding: 0px; text-indent: 0px;">Clarion Industries Co., Ltd. &#8211; 12%</td> </tr> </table> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px 0px 0px 1in; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Customers who accounted for 10% or more of our net revenues during the six months ended June 30, 2014 are as follows:</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: top;"> <td style="padding: 0px; width: 0.75in; text-indent: 0px;"></td> <td style="padding: 0px; width: 0.25in; text-indent: 0px;"><font style="font-family: symbol;">&#183;</font></td> <td style="padding: 0px; text-indent: 0px;">Leap Frog &#8211; 19%</td> </tr> </table> <table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: top;"> <td style="padding: 0px; width: 0.75in; text-indent: 0px;"></td> <td style="padding: 0px; width: 0.25in; text-indent: 0px;"><font style="font-family: symbol;">&#183;</font></td> <td style="padding: 0px; text-indent: 0px;">Kobo Inc. &#8211; 13%</td> </tr> </table> <table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: top;"> <td style="padding: 0px; width: 0.75in; text-indent: 0px;"></td> <td style="padding: 0px; width: 0.25in; text-indent: 0px;"><font style="font-family: symbol;">&#183;</font></td> <td style="padding: 0px; text-indent: 0px;">Netronix Inc. &#8211; 13%</td> </tr> </table> <table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: top;"> <td style="padding: 0px; width: 0.75in; text-indent: 0px;"></td> <td style="padding: 0px; width: 0.25in; text-indent: 0px;"><font style="font-family: symbol;">&#183;</font></td> <td style="padding: 0px; text-indent: 0px;">Sony Corporation. &#8211; 11%</td> </tr> </table> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><i>&#160;</i></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><b><i>Revenue Recognition</i></b></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.25in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><i>Licensing Revenues:</i></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">We derive revenue from the licensing of internally developed intellectual property (&#8220;IP&#8221;). We enter into IP licensing agreements that generally provide licensees the right to incorporate our IP components in their products with terms and conditions that vary by licensee. Fees under these agreements may include license fees relating to our IP and&#160;royalties payable following the distribution by our licensees of products incorporating the licensed technology. The license for our IP has standalone value and can be used by the licensee without maintenance and support. We follow U.S. GAAP for revenue recognition as per unit royalty products are distributed or licensed by our customers.&#160;For technology license arrangements that do not require significant modification or customization of the underlying technology, we recognize technology license revenue when: (1) we enter into a legally binding arrangement with a customer for the license of technology; (2) the customer distributes or licenses the products; (3) the customer payment is deemed fixed or determinable and free of contingencies or significant uncertainties; and (4) collection is reasonably assured. Our customers report to us the quantities of products distributed or licensed by them after the end of the reporting period stipulated in the contract, generally 30 to 45 days after the end of the month or quarter. We recognize licensing revenue in the period in which royalty reports are received, rather than the period in which the products are distributed or to which the license relates.</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Explicit return rights are not offered to customers. There have been no returns through June 30, 2015.</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><i>Engineering Services:</i></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">We may sell engineering consulting services to our customers on a flat rate or hourly rate basis. We recognize revenue from these services when all of the following conditions are met: (1) evidence existed of an arrangement with the customer, typically consisting of a purchase order or contract; (2) our services were performed and risk of loss passed to the customer; (3) we completed all of the necessary terms of the contract; (4) the amount of revenue to which we were entitled was fixed or determinable; and (5) we believed it was probable that we would be able to collect the amount due from the customer. To the extent that one or more of these conditions has not been satisfied, we defer recognition of revenue.&#160;&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Generally, we recognize revenue as the engineering services stipulated under the contract are completed and accepted by our customers.&#160;&#160;Engineering services are performed under a signed Statement of Work (&#8220;SOW&#8221;) with a customer. The deliverables and payment terms stipulated under the SOW provide guidance on the project revenue recognition.</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/15.33px 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Revenues from contracts that are short-term in nature and related costs that are difficult to estimate are accounted for under the completed contract method.</p> <p style="font: 10pt/15.33px 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/15.33px 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Revenues from contracts with substantive defined milestones that we have determined are reasonable, relevant to all the deliverables and payment terms in the SOW that are commensurate with the efforts required to achieve the milestones are recognized under the milestone recognition method.</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Estimated losses on all SOW projects are recognized in full as soon as they become evident.</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.25in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><b><i>Deferred Revenues</i></b></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.25in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">From time-to-time we receive pre-payments from our customers related to future services or future license fee revenues.&#160;We defer the license fees until we have met all accounting requirements for revenue recognition as per unit royalty products are distributed and royalty reports are received. Engineering development fee revenues are deferred until such time as the engineering work has been completed and accepted by our customers.</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><b><i>Advertising</i></b></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Advertising costs are expensed as incurred. Advertising costs for the three and six months ended June 30, 2015 amounted to approximately $8,000 and $28,000, respectively. Advertising costs for the three and six months ended June 30, 2014 amounted to approximately $23,000 and $129,000, respectively.</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><b><i>Product Research and Development</i></b></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Research and development (&#8220;R&amp;D&#8221;) costs are expensed as incurred. R&amp;D costs consist mainly of personnel related costs in addition to some external consultancy costs such as testing, certifying and measurements.&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><b><i>Stock-Based Compensation Expense</i></b></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">We measure the cost of employee services received in exchange for an award of equity instruments, including stock options, based on the estimated fair value of the award on the grant date, and recognize the value as compensation expense over the period the employee is required to provide services in exchange for the award, usually the vesting period, net of estimated forfeitures.</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;We account for equity instruments issued to non-employees at their estimated fair value. The measurement date for the estimated fair value for the equity instruments issued is determined at the earlier of (1) the date at which a commitment for performance by the consultant or vendor is reached, or (2) the date at which the consultant or vendor&#8217;s performance is complete. In the case of equity instruments issued to consultants, the fair value of the equity instruments is primarily recognized over the term of the consulting agreement. The estimated fair value of the stock-based compensation is periodically re-measured and income or expense is recognized during the vesting term.</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">When determining stock-based compensation expense involving options and warrants, we determine the estimated fair value of options and warrants using the Black-Scholes option pricing model.</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><b><i>Income Taxes</i></b></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.25in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">We recognize deferred tax liabilities and assets for the expected future tax consequences of items that have been included in the consolidated financial statements or tax returns. We estimate income taxes based on rates in effect in each of the jurisdictions in which we operate. Deferred income tax assets and liabilities are determined based upon differences between the financial statement and income tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The realization of deferred tax assets is based on historical tax positions and expectations about future taxable income. Valuation allowances are recorded against net deferred tax assets when, in our opinion, realization is uncertain based on the &#8220;more likely than not&#8221; criteria of the accounting guidance.</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Based on the uncertainty of future pre-tax income, we fully reserved our net deferred tax assets as of June 30, 2015 and December 31, 2014. In the event we were to determine that we would be able to realize our deferred tax assets in the future, an adjustment to the deferred tax asset would increase income in the period such determination was made. The provision for income taxes represents the net change in deferred tax amounts, plus income taxes paid or payable for the current period.</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">We follow U.S. GAAP related to accounting for uncertainty in income taxes, which provisions include a two-step approach to recognizing, de-recognizing and measuring uncertainty in income taxes.&#160;&#160;As a result, we did not recognize a liability for unrecognized tax benefits.&#160;As of June 30, 2015 and December&#160;31, 2014, we had no unrecognized tax benefits.</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><b><i>Net Loss per Share</i></b></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Net loss per share amounts have been computed based on the weighted average number of shares of common stock outstanding during the three and six months ended June 30, 2015 and 2014. Net loss per share, assuming dilution amounts from common stock equivalents, is computed based on the weighted-average number of shares of common stock and potential common stock equivalents outstanding during the period. The weighted-average number of shares of common stock and potential common stock equivalents used in computing the net loss per share for the three and six months ended June 30, 2015 and 2014 exclude the potential common stock equivalents, as the effect would be anti-dilutive&#160;(See Note 8).</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><b><i>Other Comprehensive Income (Loss)&#160;</i></b></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Our other comprehensive income (loss) includes foreign currency translation gains and losses.&#160;The cumulative amount of translation gains and losses are reflected as a separate component of stockholders&#8217; equity in the consolidated balance sheets as accumulated other comprehensive income.</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><b><i>Cash Flow Information</i></b></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.55in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Cash flows in foreign currencies have been converted to U.S. dollars at an approximate weighted-average exchange rate for the respective reporting periods. The weighted-average exchange rate for the condensed consolidated statements of operations and comprehensive loss was 8.42 and 6.60 Swedish Krona to one U.S. Dollar for the three months ended June 30, 2015 and 2014, respectively. The weighted-average exchange rate for the condensed consolidated statements of operations and comprehensive loss was 8.37 and 6.53 Swedish Krona to one U.S. Dollar for the six months ended June 30, 2015 and 2014, respectively. The exchange rate for the condensed consolidated balance sheets was 8.31 and 7.80&#160;Swedish Krona to one U.S. Dollar as of June 30, 2015 and December 31, 2014, respectively.&#160;The weighted-average exchange rate for the condensed consolidated statements of operations and comprehensive loss was 121.29 and 102.12 Japanese Yen to one U.S. Dollar for the three months ended June 30, 2015 and 2014, respectively. The weighted-average exchange rate for the condensed consolidated statements of operations and comprehensive loss was 120.23 and 102.47 Japanese Yen to one U.S. Dollar for the six months ended June 30, 2015 and 2014, respectively. The exchange rate for the condensed consolidated balance sheets was 122.72 and 119.93 Japanese Yen to one U.S. Dollar as of June 30, 2015 and December 31, 2014, respectively.&#160;The weighted-average exchange rate for the condensed consolidated statements of operations and comprehensive loss was 1,096.06 South Korean Won to one U.S. Dollar for the three months ended June 30, 2015. The weighted-average exchange rate for the condensed consolidated statements of operations and comprehensive loss was 1,098.02 South Korean Won to one U.S. Dollar for the six months ended June 30, 2015. The exchange rate for the condensed consolidated balance sheets was 1,126.89 and 1,096.73 South Korean Won to one U.S. Dollar as of June 30, 2015 and December 31, 2014, respectively.&#160;The weighted-average exchange rate for the condensed consolidated statements of operations and comprehensive loss was 30.78 Taiwan Dollar to one U.S. Dollar for the three months ended June 30, 2015. The weighted-average exchange rate for the condensed consolidated statements of operations and comprehensive loss was 31.17 Taiwan Dollar to one U.S. Dollar for the six months ended June 30, 2015. The exchange rate for the condensed consolidated balance sheet was 30.92 Taiwan Dollar to one U.S. Dollar as of June 30, 2015.</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.55in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><b><i>Fair Value of Financial Instruments</i></b></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.25in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">We disclose the estimated fair values for all financial instruments for which it is practicable to estimate fair value. Financial instruments including cash, accounts receivable, accounts payable and accrued expenses and are deemed to approximate fair value due to their short maturities.</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><b><i>&#160;</i></b></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><b><i>New Accounting Pronouncements</i></b></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">In May 2014, the Financial Accounting Standards Board (&#8220;FASB&#8221;) issued Accounting Standards Update (&#8220;ASU&#8221;) No. 2014-09, &#8220;<i>Revenue from Contracts with Customers (Topic 606)&#8221;</i>&#160;(&#8220;ASU 2014-09&#8221;). ASU 2014-09 amends the guidance for revenue recognition to replace numerous, industry specific requirements and converges areas under this topic with those of the International Financial Reporting Standards. The ASU implements a five-step process for customer contract revenue recognition that focuses on transfer of control, as opposed to transfer of risk and rewards. The amendment also requires enhanced disclosures regarding the nature, amount, timing and uncertainty of revenues and cash flows from contracts with customers. Other major provisions include the capitalization and amortization of certain contract costs, ensuring the time value of money is considered in the transaction price, and allowing estimates of variable consideration to be recognized before contingencies are resolved in certain circumstances. Entities can transition to the standard either retrospectively or as a cumulative-effect adjustment as of the date of adoption. On July 9, 2015, the FASB approved amendments deferring the effective date by one year to December 15, 2017 for annual reporting periods beginning after that date and permitting early adoption of the standard, but not before the original effective date or for reporting periods beginning after December 15, 2016. We have not yet selected a transition method and are currently assessing the impact the adoption of ASU 2014-09 will have on our consolidated financial statements and disclosures.</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">In August 2014, the FASB issued ASU No. 2014-15, &#8220;<i>Presentation of Financial Statements - Going Concern: Disclosure of Uncertainties about an Entity&#8217;s Ability to Continue as a Going Concern</i>&#8221;. The amendments in this update provide guidance in U.S. GAAP about management's responsibilities to evaluate whether there is substantial doubt about an entity's ability to continue as a going concern and to provide related footnote disclosures. The main provision of the amendments are for an entity's management, in connection with the preparation of financial statements, to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the entity's ability to continue as a going concern within one year after the date that the financial statements are issued. Management's evaluation should be based on relevant conditions and events that are known or reasonably knowable at the date the consolidated financial statements are issued. When management identifies conditions or events that raise substantial doubt about an entity's ability to continue as a going concern, the entity should disclose information that enables users of the consolidated financial statements to understand all of the following: (1) principal conditions or events that raised substantial doubt about the entity's ability to continue as a going concern (before consideration of management's plans); (2) management's evaluation of the significance of those conditions or events in relation to the entity's ability to meet its obligations; and (3) management's plans that alleviated substantial doubt about the entity's ability to continue as a going concern or management's plans that are intended to mitigate the conditions or events that raise substantial doubt about the entity's ability to continue as a going concern. The amendments in this update are effective for interim and annual reporting periods beginning after December 15, 2016 and early application is permitted. We are currently assessing this guidance for future implementation.</p> </div> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><b>3.&#160;&#160; Deferred Revenues</b></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">We defer license fees until we have met all accounting requirements for revenue recognition as per unit royalty products are distributed and royalty reports are received. Engineering development fee revenues are deferred until such time as the engineering work has been completed and accepted by our customers. As of June 30, 2015 and December 31, 2014, we had $1.9 million and $3.0 million, respectively, of deferred license fee revenue related to prepayments for future license fees from four and five customers, and a total of $1.1 million and $0.4 million, respectively, of deferred engineering development fees from one and five customers, respectively.</p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><b>4.</b>&#160;&#160;&#160;<b>Stockholders&#8217; Equity</b></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><b><i>Common Stock</i></b></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px 0px 0px 0.25in;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">During the six months ended June 30, 2015, a warrant holder exercised warrants to purchase 80,000 shares of common stock using the cashless net exercise provision allowed in the warrant and received 69,632 shares of our common stock.</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><b><i>Preferred Stock</i></b></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">We have one class of preferred stock outstanding. The terms of the Series B Preferred stock are as follows:</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;"><i>Dividends and Distributions</i></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">The holders of shares of Series B Preferred stock are entitled to participate with the holders of our common stock with respect to any dividends declared on the common stock in proportion to the number of shares of common stock issuable upon conversion of the shares of Series B Preferred stock held by them.</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;"><i>Liquidation Preference</i></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><i>&#160;</i></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">In the event of any liquidation, dissolution, or winding up of our operations, either voluntary or involuntary, subject to the rights of the Series B Preferred stock and Senior Preferred stock, shall be entitled to receive, after any distribution to the holders of senior preferred stock and prior to and in preference to any distribution to the holders of common stock, $0.001 for each share of Series B Preferred stock then outstanding.</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;"><i>Voting</i></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><i>&#160;</i></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">The holders of shares of Series B Preferred stock have one vote for each share of Series B Preferred stock held by them.</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;"><i>Conversion</i></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><i>&#160;</i></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;"><font style="font-size: 10pt;">Initially, each share of Series B Preferred stock was convertible into one share of our common stock.&#160;On March 31, 2009, our stockholders approved a resolution to increase the authorized share capital, and to increase the conversion ratio to 132.07 shares of our common stock for each share of Series B Preferred stock.&#160;&#160;</font>&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><b><i>Conversion of Preferred Stock Issued to Common Stock</i></b></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">The following table summarizes the amounts as of June 30, 2015.&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;">&#160;</p><table style="width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman', times, serif; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td style="font-size: 10pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Shares of Preferred Stock Not Exchanged as of June 30, 2015</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Conversion Ratio</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Shares of Common Stock after Conversion of all Outstanding Shares of Preferred Stock Not yet Exchanged at&#160;June&#160;30,<br />2015</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="width: 1003px; font-size: 10pt;">&#160;</td><td style="width: 16px; font-size: 10pt;">&#160;</td><td style="width: 16px; font-size: 10pt; text-align: left;">&#160;</td><td style="width: 142px; font-size: 10pt; text-align: right;">&#160;</td><td style="width: 16px; font-size: 10pt; text-align: left;">&#160;</td><td style="width: 16px; font-size: 10pt;">&#160;</td><td style="width: 16px; font-size: 10pt; text-align: left;">&#160;</td><td style="width: 141px; font-size: 10pt; text-align: right;">&#160;</td><td style="width: 15px; font-size: 10pt; text-align: left;">&#160;</td><td style="width: 15px; font-size: 10pt;">&#160;</td><td style="width: 15px; font-size: 10pt; text-align: left;">&#160;</td><td style="width: 141px; font-size: 10pt; text-align: right;">&#160;</td><td style="width: 15px; font-size: 10pt; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left; padding-bottom: 4pt;">Series B Preferred stock</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">83</td><td style="padding-bottom: 4pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 4pt;">&#160;</td><td style="padding-bottom: 4pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="padding-bottom: 4pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">132.07</td><td style="padding-bottom: 4pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">10,962</td><td style="padding-bottom: 4pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td></tr></table> <div> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><b>5.</b>&#160;&#160;&#160;<b>Stock-Based Compensation</b></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.25in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">The stock-based compensation expense for the three and six months ended June 30, 2015 and 2014 reflects the estimated fair value of the vested portion of options granted to employees, directors and eligible consultants. In addition, on March 3, 2015, the Company issued to certain Swedish employees an aggregate of 265,000 immediately vested options to purchase shares of the Company&#8217;s common stock at an exercise price of $4.15 per share that expire on March 3, 2018. Under Sweden law, the employees are required to purchase the stock options from the Company that was recorded as stock-based compensation expense. The purchase price of the stock options was determined to be $0.70 per option for a total amount of $185,500. At the discretion of the Board of Directors, the Company absorbed the cost and recorded the amount as a bonus to these employees on date of grant. Stock-based compensation expense in the accompanying condensed consolidated statements of operations is as follows (in thousands):</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <table style="width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman', times, serif; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td style="font-size: 10pt;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;" colspan="6">Three months ended&#160;&#160;<br />June 30,</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;" colspan="6">Six months ended&#160;&#160;<br />June 30,</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> </tr> <tr style="vertical-align: bottom;"> <td style="font-size: 10pt;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;" colspan="2">2015</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;" colspan="2">2014</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;" colspan="2">2015</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;" colspan="2">2014</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="font: 10pt/normal 'times new roman', times, serif; width: 815px; text-align: left; font-stretch: normal;">Product research and development</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 16px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 16px; text-align: left; font-stretch: normal;">$</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 142px; text-align: right; font-stretch: normal;">99</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 16px; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 16px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 16px; text-align: left; font-stretch: normal;">$</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 142px; text-align: right; font-stretch: normal;">92</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 16px; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 15px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 15px; text-align: left; font-stretch: normal;">$</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 141px; text-align: right; font-stretch: normal;">322</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 15px; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 15px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 15px; text-align: left; font-stretch: normal;">$</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 141px; text-align: right; font-stretch: normal;">360</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 15px; text-align: left; font-stretch: normal;">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">Sales and marketing</td> <td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; font-stretch: normal;">66</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; font-stretch: normal;">76</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; font-stretch: normal;">172</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; font-stretch: normal;">251</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; padding-bottom: 1.5pt; font-stretch: normal;">General and administrative</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;">9</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;">175</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;">278</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;">804</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; padding-bottom: 4pt; font-stretch: normal;">Total stock-based compensation expense</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 4pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-stretch: normal;">$</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-stretch: normal;">174</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; padding-bottom: 4pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 4pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-stretch: normal;">$</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-stretch: normal;">343</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; padding-bottom: 4pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 4pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-stretch: normal;">$</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-stretch: normal;">772</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; padding-bottom: 4pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 4pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-stretch: normal;">$</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-stretch: normal;">1,415</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; padding-bottom: 4pt; font-stretch: normal;">&#160;</td> </tr> </table> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <table style="width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman', times, serif; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td style="font-size: 10pt;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;" colspan="2">Remaining unrecognized&#160;<br />expense at&#160;<br />June 30,<br />2015</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="font: 10pt/normal 'times new roman', times, serif; width: 1379px; padding-bottom: 4pt; font-stretch: normal;">Stock-based compensation</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 16px; padding-bottom: 4pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 16px; text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-stretch: normal;">$</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 141px; text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-stretch: normal;">1,038</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 15px; text-align: left; padding-bottom: 4pt; font-stretch: normal;">&#160;</td> </tr> </table> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">The remaining unrecognized expense related to stock options will be recognized on a straight line basis monthly as compensation expense over the remaining vesting period, which approximates 1.9 years.</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.55in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">The estimated fair value of stock-based awards is calculated using the Black-Scholes option pricing model, even though this model was developed to estimate the fair value of freely tradable, fully transferable options without vesting restrictions, which differ significantly from our stock options. The Black-Scholes model also requires subjective assumptions, including future stock price volatility and expected time to exercise, which greatly affect the calculated values. The expected term and forfeiture rate of options granted is derived from historical data on employee exercises and post-vesting employment termination behavior, as well as expected behavior on outstanding options. The risk-free rate is based on the U.S. Treasury rates in effect during the corresponding period of grant. The expected volatility is based on the historical volatility of our stock price. These factors could change in the future, which would affect fair values of stock options granted in such future periods, and could cause volatility in the total amount of the stock-based compensation expense reported in future periods.</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">We have adopted equity incentive plans for which stock options and restricted stock awards are available to grant to employees, consultants and directors. Except for the 265,000 options issued to certain Swedish employees (see above), all employee, consultant and director stock options granted under our stock option plans have an exercise price equal to the market value of the underlying common stock on the grant date. There are no vesting provisions tied to performance conditions for any options, as vesting for all outstanding option grants was based only on continued service as an employee, consultant or director. All of our outstanding stock options and restricted stock awards are classified as equity instruments.</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="letter-spacing: -0.15pt;">During the three and six months ended June 30, 2015, our shareholders approved the Neonode Inc. 2015 Stock Incentive Plan (the &#8220;2015 Plan&#8221;) which replaces our 2006 Equity Incentive Plan (the &#8220;2006 Plan&#8221;). Under the 2015 Plan, 2,100,000 shares of common stock have been reserved for awards, including nonqualified stock option grants and restricted stock grants to officers, employees, non-employee directors and consultants. The terms of the awards granted under the 2015 Plan are set by our compensation committee at its discretion. During the three and six months ended June 30, 2015, no stock options or restricted stock were granted under the 2015 Plan.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Accordingly, as of June 30, 2015 we had three equity incentive plans:</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"></p> <table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: top;"> <td style="padding: 0px; width: 0.5in; text-indent: 0px;">&#160;</td> <td style="padding: 0px; width: 0.25in; text-indent: 0px;"><font style="font: 10pt/normal symbol; font-stretch: normal;">&#183;</font></td> <td style="padding: 0px; text-indent: 0px;">The 1998 Non-Officer Stock Option Plan (the &#8220;1998 Plan&#8221;), which expired in June 2008;</td> </tr> <tr style="vertical-align: top;"> <td style="padding: 0px; text-indent: 0px;">&#160;</td> <td style="padding: 0px; text-indent: 0px;"><font style="font: 10pt/normal symbol; font-stretch: normal;">&#183;</font></td> <td style="padding: 0px; text-indent: 0px;">The 2006 Equity Incentive Plan; and</td> </tr> <tr style="vertical-align: top;"> <td style="padding: 0px; text-indent: 0px;">&#160;</td> <td style="padding: 0px; text-indent: 0px;"><font style="font: 10pt/normal symbol; font-stretch: normal;">&#183;</font></td> <td style="padding: 0px; text-indent: 0px;">The 2015 Stock Incentive Plan</td> </tr> </table> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">We also had one non-employee director stock option plan as of June 30, 2015:</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px 0px 0px 25pt; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><i>&#160;</i></p> <table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: top;"> <td style="padding: 0px; width: 0.5in; text-indent: 0px;"></td> <td style="padding: 0px; width: 0.25in; text-indent: 0px;"><font style="font-family: symbol;">&#183;</font></td> <td style="padding: 0px; text-indent: 0px;"><font style="font-family: 'times new roman', times, serif;">The 2001 Non-Employee Director Stock Option Plan (the &#8220;Director Plan&#8221;),</font>&#160;which expired in March 2011.</td> </tr> </table> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">A summary of the combined activity under all of the stock option plans is set forth below:</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <table style="width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman', times, serif; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td style="font-size: 10pt;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;" colspan="2">Number of Options Outstanding</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;" colspan="2">Weighted Average Exercise Price</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="font: 10pt/normal 'times new roman', times, serif; width: 1191px; font-stretch: normal;">Outstanding at January 1, 2015</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 16px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 16px; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 142px; text-align: right; font-stretch: normal;">1,709,400</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 16px; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 15px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 15px; text-align: left; font-stretch: normal;">$</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 141px; text-align: right; font-stretch: normal;">4.92</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 15px; text-align: left; font-stretch: normal;">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">Granted</td> <td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; font-stretch: normal;">590,000</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; font-stretch: normal;">3.56</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">Expired/forfeited</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;">(3,200</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; padding-bottom: 1.5pt; font-stretch: normal;">)</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;">86.25</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 4pt; font-stretch: normal;">Outstanding at June 30, 2015</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 4pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-stretch: normal;">2,296,200</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; padding-bottom: 4pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 4pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-stretch: normal;">$</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-stretch: normal;">4.46</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; padding-bottom: 4pt; font-stretch: normal;">&#160;</td> </tr> </table> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">The aggregate intrinsic value of the 2,296,200 stock options that are outstanding, vested and expected to vest as of June 30, 2015 was approximately $34,000.</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">For the three and six months ended June 30, 2015 and 2014, we recorded $0.2 million and $0.8 million and $0.3 million and $1.4 million, respectively, of compensation expense related to the vesting of stock options, including options granted to certain Swedish employees, as described above. The fair value of the stock-based compensation was calculated using the Black-Scholes option pricing model as of the date of grant of the stock option.</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">During the six months ended June 30, 2015, we granted options to purchase 500,000 shares of our common stock to employees and options to purchase 90,000 shares of our common stock to four members of our board of directors with a grant date fair value of $0.6 million computed using the Black-Scholes option pricing model. The total options granted includes 265,000 options issued to certain Swedish employees, as described above. The weighted-average grant date fair value of the options granted during the six months ended June 30, 2015 was $1.26 per share.</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">See below for assumptions used in the valuation of stock options:</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <table style="width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman', times, serif; font-size: 10pt; word-spacing: 0px; widows: 1; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr> <td style="width: 1364px;">&#160;</td> <td style="width: 15px;">&#160;</td> <td style="width: 188px; text-align: center;"><font style="font-size: 10pt;">For the six months ended</font></td> </tr> <tr> <td>&#160;</td> <td>&#160;</td> <td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"><font style="font-size: 10pt;">June 30,<br />2015</font></td> </tr> <tr> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> </tr> <tr style="background-color: #cceeff;"> <td><font style="font-size: 10pt;">Annual dividend yield</font></td> <td>&#160;</td> <td style="text-align: center;"><font style="font-size: 10pt;">-</font></td> </tr> <tr style="background-color: white;"> <td><font style="font-size: 10pt;">Expected life (years)</font></td> <td>&#160;</td> <td style="text-align: center;"><font style="font-size: 10pt;">1.50 - 4.35</font></td> </tr> <tr style="background-color: #cceeff;"> <td><font style="font-size: 10pt;">Risk-free interest rate</font></td> <td>&#160;</td> <td style="text-align: center;"><font style="font-size: 10pt;">0.47% - 1.41%</font></td> </tr> <tr style="background-color: white;"> <td><font style="font-size: 10pt;">Expected volatility</font></td> <td>&#160;</td> <td style="text-align: center;"><font style="font-size: 10pt;">68% - 72%</font></td> </tr> </table> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">The 1998 Plan terminated effective June 15, 2008. Although we can no longer issue stock options out of the plans, the outstanding options at the date of termination will remain outstanding and vest in accordance with their terms. Options granted under the Director Plan vested over a one to four-year period, expire five to seven years after the date of grant and have exercise prices reflecting market value of the shares of our common stock on the date of grant. Stock options granted under the 1998 and 2006 Plans are exercisable over a maximum term of ten years from the date of grant, vest in various installments over a one to four-year period and have exercise prices reflecting the market value of the shares of common stock on the date of grant.</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.25in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><b>&#160;</b></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><b><i>Warrants</i></b></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">A summary of all warrant activity is set forth below:</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <table style="width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman', times, serif; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td style="font-size: 10pt;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;" colspan="10">June 30, 2015</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> </tr> <tr style="vertical-align: bottom;"> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">Outstanding and exercisable</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;" colspan="2">Warrants</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;" colspan="2">Weighted Average Exercise Price</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;" colspan="2">Weighted Average&#160;<br />Remaining Contractual Life</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="font: 10pt/normal 'times new roman', times, serif; width: 1003px; font-stretch: normal;">January 1, 2015</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 16px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 16px; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 142px; text-align: right; font-stretch: normal;">3,335,073</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 16px; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 16px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 16px; text-align: left; font-stretch: normal;">$</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 141px; text-align: right; font-stretch: normal;">4.45</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 15px; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 15px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 15px; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 141px; text-align: right; font-stretch: normal;">0.93</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 15px; text-align: left; font-stretch: normal;">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;&#160;&#160;Granted</td> <td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; font-stretch: normal;">-</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; font-stretch: normal;">-</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; font-stretch: normal;">-</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;&#160;&#160;Expired/cancelled</td> <td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; font-stretch: normal;">(80,000</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">)</td> <td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; font-stretch: normal;">0.50</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; font-stretch: normal;">-</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;&#160;&#160;Exercised</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;">-</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;">-</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;">-</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 4pt; font-stretch: normal;">Outstanding and exercisable, June 30, 2015</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 4pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-stretch: normal;">3,255,073</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; padding-bottom: 4pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 4pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-stretch: normal;">$</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-stretch: normal;">4.55</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; padding-bottom: 4pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 4pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-stretch: normal;">0.42</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; padding-bottom: 4pt; font-stretch: normal;">&#160;</td> </tr> </table> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <table style="width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman', times, serif; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: center; font-stretch: normal;" colspan="17">Outstanding Warrants to Purchase&#160;<br />Common Stock as of June 30, 2015:</td> </tr> <tr style="vertical-align: bottom;"> <td style="font-size: 10pt;">&#160;</td> <td style="font-size: 10pt;">&#160;</td> <td style="font-size: 10pt;" colspan="2">&#160;</td> <td style="font-size: 10pt;">&#160;</td> <td style="font-size: 10pt;">&#160;</td> <td style="font-size: 10pt;" colspan="2">&#160;</td> <td style="font-size: 10pt;">&#160;</td> <td style="font-size: 10pt;">&#160;</td> <td style="font-size: 10pt;" colspan="2">&#160;</td> <td style="font-size: 10pt;">&#160;</td> <td style="font-size: 10pt;">&#160;</td> <td style="font-size: 10pt;" colspan="2">&#160;</td> <td style="font-size: 10pt;">&#160;</td> </tr> <tr style="vertical-align: bottom;"> <td style="font: 10pt/normal 'times new roman', times, serif; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;">Description</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;" colspan="2">Issue&#160;&#160;Date</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;" colspan="2">Exercise<br />Price</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;" colspan="2">Shares</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;" colspan="2">Expiration Date</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> </tr> <tr style="vertical-align: bottom;"> <td style="font-size: 10pt;">&#160;</td> <td style="font-size: 10pt;">&#160;</td> <td style="font-size: 10pt;" colspan="2">&#160;</td> <td style="font-size: 10pt;">&#160;</td> <td style="font-size: 10pt;">&#160;</td> <td style="font-size: 10pt;" colspan="2">&#160;</td> <td style="font-size: 10pt;">&#160;</td> <td style="font-size: 10pt;">&#160;</td> <td style="font-size: 10pt;" colspan="2">&#160;</td> <td style="font-size: 10pt;">&#160;</td> <td style="font-size: 10pt;">&#160;</td> <td style="font-size: 10pt;" colspan="2">&#160;</td> <td style="font-size: 10pt;">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="font: 10pt/normal 'times new roman', times, serif; width: 815px; text-align: left; font-stretch: normal;">2007 Debt Extension Warrants</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 16px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 16px; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 142px; text-align: right; font-stretch: normal;">9/22/2010</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 16px; text-align: left; font-stretch: normal;"></td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 16px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 16px; text-align: left; font-stretch: normal;">$</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 142px; text-align: right; font-stretch: normal;">1.00</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 16px; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 15px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 15px; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 141px; text-align: right; font-stretch: normal;">16,000</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 15px; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 15px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 15px; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 141px; text-align: right; font-stretch: normal;">9/22/2015</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 15px; text-align: left; font-stretch: normal;"></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">December 2010 Employee Warrants</td> <td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; font-stretch: normal;">12/3/2010</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;"></td> <td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">$</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; font-stretch: normal;">1.63</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; font-stretch: normal;">200,000</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; font-stretch: normal;">12/3/2015</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;"></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">February 2011 Legal Advisor Warrant</td> <td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; font-stretch: normal;">2/22/2011</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;"></td> <td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">$</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; font-stretch: normal;">2.50</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; font-stretch: normal;">80,000</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; font-stretch: normal;">2/22/2016</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;"></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">March&#160;&#160;2011 Investor Warrants</td> <td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; font-stretch: normal;">3/9/2011</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;"></td> <td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">$</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; font-stretch: normal;">3.13</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; font-stretch: normal;">349,973</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; font-stretch: normal;">3/9/2016</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;"></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">March&#160;&#160;2011 Investor Warrants</td> <td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; font-stretch: normal;">4/7/2011</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;"></td> <td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">$</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; font-stretch: normal;">3.13</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; font-stretch: normal;">34,100</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; font-stretch: normal;">4/7/2016</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;"></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">May 2014 Agent Warrant</td> <td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; font-stretch: normal;">5/15/2014</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;"></td> <td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">$</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; font-stretch: normal;">5.09</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; font-stretch: normal;">75,000</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; font-stretch: normal;">11/15/2015</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;"></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">May 2014 Investor Warrant</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; padding-bottom: 1.5pt; font-stretch: normal;">5/15/2014</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; padding-bottom: 1.5pt; font-stretch: normal;"></td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; padding-bottom: 1.5pt; font-stretch: normal;">$</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; padding-bottom: 1.5pt; font-stretch: normal;">5.09</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;">2,500,000</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; padding-bottom: 1.5pt; font-stretch: normal;">11/15/2015</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; padding-bottom: 1.5pt; font-stretch: normal;"></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; padding-bottom: 4pt; font-stretch: normal;">Total Warrants Outstanding</td> <td style="padding-bottom: 4pt; font-size: 10pt;">&#160;</td> <td style="text-align: left; padding-bottom: 4pt; font-size: 10pt;">&#160;</td> <td style="text-align: right; padding-bottom: 4pt; font-size: 10pt;">&#160;</td> <td style="text-align: left; padding-bottom: 4pt; font-size: 10pt;">&#160;</td> <td style="padding-bottom: 4pt; font-size: 10pt;">&#160;</td> <td style="text-align: left; padding-bottom: 4pt; font-size: 10pt;">&#160;</td> <td style="text-align: right; padding-bottom: 4pt; font-size: 10pt;">&#160;</td> <td style="text-align: left; padding-bottom: 4pt; font-size: 10pt;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 4pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-stretch: normal;">3,255,073</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; padding-bottom: 4pt; font-stretch: normal;">&#160;</td> <td style="padding-bottom: 4pt; font-size: 10pt;">&#160;</td> <td style="text-align: left; padding-bottom: 4pt; font-size: 10pt;">&#160;</td> <td style="text-align: right; padding-bottom: 4pt; font-size: 10pt;">&#160;</td> <td style="text-align: left; padding-bottom: 4pt; font-size: 10pt;">&#160;</td> </tr> </table> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><b>&#160;</b></p> </div> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><b>6. Commitments and Contingencies</b></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;"><b><i>&#160;</i></b></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><b><i>Indemnities and Guarantees</i></b></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">We have agreed to indemnify each of our executive officers and directors for certain events or occurrences arising as a result of the officer or director serving in such capacity. The term of the indemnification period is for the officer&#8217;s or director&#8217;s lifetime. The maximum potential amount of future payments we could be required to make under these indemnification agreements is unlimited. However, we have a directors&#8217; and officers&#8217; liability insurance policy that should enable us to recover a portion of future amounts paid. As a result of our insurance policy coverage, we believe the estimated fair value of these indemnification agreements is minimal and have no liabilities recorded for these agreements as of June 30, 2015 and December 31, 2014.</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">We enter into indemnification provisions under our agreements with other companies in the ordinary course of business, typically with business partners, contractors, customers and landlords. Under these provisions we generally indemnify and hold harmless the indemnified party for losses suffered or incurred by the indemnified party as a result of our activities or, in some cases, as a result of the indemnified party&#8217;s activities under the agreement. These indemnification provisions often include indemnifications relating to representations made by us with regard to intellectual property rights. These indemnification provisions generally survive termination of the underlying agreement. The maximum potential amount of future payments we could be required to make under these indemnification provisions is unlimited. We have not incurred material costs to defend lawsuits or settle claims related to these indemnification agreements. As a result, we believe the estimated fair value of these agreements is minimal. Accordingly, we have no liabilities recorded for these indemnification provisions as of June 30, 2015 and December 31, 2014.</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><b><i>Non-recurring Engineering Development Costs</i></b></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><b><i>&#160;</i></b></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">On February 4, 2011, we entered into an Analog Device Development Agreement with an effective date of January 24, 2010 (the &#8220;NN1001 Agreement&#8221;) with Texas Instruments (&#8220;TI&#8221;) pursuant to which TI integrated Neonode&#8217;s intellectual property into an Application Specific Integrated Circuit (&#8220;ASIC&#8221;) developed by TI. The NN1001 ASIC only can be sold by TI exclusively to licensees of Neonode. Under the terms of the NN1001 Agreement, we will reimburse TI up to $500,000 of non-recurring engineering (&#8220;NRE&#8221;) development costs based on shipments of the NN1001. Under the terms of the NN1001 Agreement, we will reimburse TI an NRE fee of $0.08 per unit for each of the first one million units sold and $0.05 for the next eight million units sold. During the three and six months ended June 30, 2015 and 2014, approximately $0 and $20,000 and $42,000 and $74,000, respectively, of NRE expense related to the NN1001 Agreement is included in product research and development in the condensed consolidated statements of operations. The $500,000 of NRE development costs under the NN1001 agreement has been reached. Through June 30, 2015, we made no payments under the NN1001 Agreement.</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">On April 25, 2013, we entered into an additional Analog Device Development Agreement with an effective date of December 6, 2012 (the &#8220;NN1002 Agreement&#8221;) with TI pursuant to which TI will integrate our intellectual property into an ASIC developed by TI. The NN1002 ASIC only can be sold by TI exclusively to licensees of Neonode. Under the terms of the NN1002 Agreement, we will reimburse TI up to $500,000 of&#160;NRE costs based on shipments of the NN1002. Under the terms of the NN1002 Agreement we will reimburse TI an NRE fee of $0.25 per unit for each of the first two million units sold. The NN1002 has been released to mass production, yet no expense has been recorded. Through June 30, 2015, we had made no payments under the NN1002 Agreement.</p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><b>7.</b>&#160;&#160;&#160;<b>Segment Information</b></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.25in;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">We have one reportable segment, which is comprised of the touch technology licensing business. All of our sales for the three and six months ended June 30, 2015 and 2014 were to customers located in the U.S., Europe and Asia. Of our total assets, 74% and 85% were held in the U.S. as of June 30, 2015 and December 31, 2014, respectively, and 24% and 14% were held in Sweden, respectively.</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">The following table presents net revenues by geographic region for the three and six months ended June 30, 2015 and 2014 (in thousands):</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;">&#160;</p><table style="width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman', times, serif; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td style="font-size: 10pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6">Three months ended&#160;<br />June 30, 2015</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6">Three months ended&#160;<br />June 30, 2014</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td></tr><tr style="vertical-align: bottom;"><td style="font-size: 10pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Amount</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Percentage</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Amount</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Percentage</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 815px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">Net revenues from customers&#160;in the Americas</td><td style="width: 16px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="width: 16px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">$</td><td style="width: 142px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">1,557</td><td style="width: 16px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="width: 16px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="width: 16px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="width: 142px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">56</td><td style="width: 16px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">%</td><td style="width: 15px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="width: 15px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">$</td><td style="width: 141px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">350</td><td style="width: 15px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="width: 15px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="width: 15px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="width: 141px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">39</td><td style="width: 15px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">%</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">Net revenues from customers in Asia</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">266</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">10</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">%</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">515</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">61</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">%</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left; padding-bottom: 1.5pt;">Net revenues from customers in Europe</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">953</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">34</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">%</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">-</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">-</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">%</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="font-size: 10pt; padding-bottom: 4pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">2,776</td><td style="padding-bottom: 4pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">100</td><td style="padding-bottom: 4pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">%</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">865</td><td style="padding-bottom: 4pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">100</td><td style="padding-bottom: 4pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">%</td></tr></table><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><b>&#160;</b></p><table style="width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman', times, serif; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td style="font-size: 10pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6">Six months ended&#160;<br />June 30, 2015</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6">Six months ended&#160;<br />June 30, 2014</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td></tr><tr style="vertical-align: bottom;"><td style="font-size: 10pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Amount</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Percentage</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Amount</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Percentage</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 815px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">Net revenues from customers&#160;in the Americas</td><td style="width: 16px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="width: 16px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">$</td><td style="width: 142px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">3,250</td><td style="width: 16px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="width: 16px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="width: 16px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="width: 142px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">65</td><td style="width: 16px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">%</td><td style="width: 15px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="width: 15px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">$</td><td style="width: 141px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">1,018</td><td style="width: 15px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="width: 15px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="width: 15px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="width: 141px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">54</td><td style="width: 15px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">%</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">Net revenues from customers in Asia</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">679</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">13</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">%</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">836</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">45</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">%</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left; padding-bottom: 1.5pt;">Net revenues from customers in Europe</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">1,110</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">22</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">%</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">25</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">1</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">%</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="font-size: 10pt; padding-bottom: 4pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">5,039</td><td style="padding-bottom: 4pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">100</td><td style="padding-bottom: 4pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">%</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">1,879</td><td style="padding-bottom: 4pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">100</td><td style="padding-bottom: 4pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">%</td></tr></table> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><b>8.</b>&#160;&#160;&#160;<b>Net Loss per Share</b></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.25in;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">Basic net loss per common share for the three and six months ended June 30, 2015 and 2014 was computed by dividing the net loss for the relevant period by the weighted average number of shares of common stock outstanding. Diluted loss per common share is computed by dividing net loss by the weighted average number of shares of common stock and common stock equivalents outstanding.</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: left; text-indent: 0.55in;">Potential common stock equivalents of approximately 43,000 and 0.3 million outstanding stock options and 0.2 million and 0.6 million outstanding stock warrants under the treasury stock method, and 11,000 and 11,000 shares issuable upon conversion of preferred stock are excluded from the diluted earnings per share calculation for the six months ended June 30, 2015 and 2014, respectively, due to their anti-dilutive effect.</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.55in;">&#160;</p><table style="width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman', times, serif; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">(in thousands, except per share amounts)</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6">Three months ended&#160;<br />June 30,</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td></tr><tr style="vertical-align: bottom;"><td style="font-size: 10pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2015</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2014</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td></tr><tr style="vertical-align: bottom;"><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"><b>BASIC AND DILUTED</b></font></td><td style="font-size: 10pt;">&#160;</td><td style="font-size: 10pt;" colspan="2">&#160;</td><td style="font-size: 10pt;">&#160;</td><td style="font-size: 10pt;">&#160;</td><td style="font-size: 10pt;" colspan="2">&#160;</td><td style="font-size: 10pt;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 1191px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">Weighted average number of&#160;common shares outstanding</td><td style="width: 16px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="width: 16px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="width: 142px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">40,499</td><td style="width: 16px; padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="width: 15px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="width: 15px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="width: 141px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">39,233</td><td style="width: 15px; padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left; padding-bottom: 4pt;">Net loss</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">(1,792</td><td style="padding-bottom: 4pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">)</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">(3,874</td><td style="padding-bottom: 4pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">)</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="font-size: 10pt;">&#160;</td><td style="font-size: 10pt;">&#160;</td><td style="font-size: 10pt; text-align: left;">&#160;</td><td style="font-size: 10pt; text-align: right;">&#160;</td><td style="font-size: 10pt; text-align: left;">&#160;</td><td style="font-size: 10pt;">&#160;</td><td style="font-size: 10pt; text-align: left;">&#160;</td><td style="font-size: 10pt; text-align: right;">&#160;</td><td style="font-size: 10pt; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left; padding-bottom: 4pt;">Net loss per share - basic and diluted</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">(0.04</td><td style="padding-bottom: 4pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">)</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">(0.10</td><td style="padding-bottom: 4pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">)</td></tr></table><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"></p><table style="width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman', times, serif; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">(in thousands, except per share amounts)</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6">Six months ended&#160;<br />June 30,</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td></tr><tr style="vertical-align: bottom;"><td style="font-size: 10pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2015</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2014</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td></tr><tr style="vertical-align: bottom;"><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"><b>BASIC AND DILUTED</b></font></td><td style="font-size: 10pt;">&#160;</td><td style="font-size: 10pt;" colspan="2">&#160;</td><td style="font-size: 10pt;">&#160;</td><td style="font-size: 10pt;">&#160;</td><td style="font-size: 10pt;" colspan="2">&#160;</td><td style="font-size: 10pt;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 1191px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">Weighted average number of&#160;common shares outstanding</td><td style="width: 16px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="width: 16px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="width: 142px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">40,477</td><td style="width: 16px; padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="width: 15px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="width: 15px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="width: 141px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">38,587</td><td style="width: 15px; padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left; padding-bottom: 4pt;">Net loss</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">(3,864</td><td style="padding-bottom: 4pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">)</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">(7,882</td><td style="padding-bottom: 4pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">)</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="font-size: 10pt;">&#160;</td><td style="font-size: 10pt;">&#160;</td><td style="font-size: 10pt; text-align: left;">&#160;</td><td style="font-size: 10pt; text-align: right;">&#160;</td><td style="font-size: 10pt; text-align: left;">&#160;</td><td style="font-size: 10pt;">&#160;</td><td style="font-size: 10pt; text-align: left;">&#160;</td><td style="font-size: 10pt; text-align: right;">&#160;</td><td style="font-size: 10pt; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left; padding-bottom: 4pt;">Net loss per share - basic and diluted</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">(0.10</td><td style="padding-bottom: 4pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">)</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">(0.20</td><td style="padding-bottom: 4pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">)</td></tr></table> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><b>9.&#160; Subsequent Events</b></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><b>&#160;</b></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">We have evaluated subsequent events through the filing date of this Form 10-Q, and determined that no subsequent events have occurred that would require recognition in the condensed consolidated financial statements or disclosure in the notes thereto other than as discussed in the accompanying notes.</p> <div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><b><i>Principles of Consolidation</i></b></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px 0px 0px 0.5in; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">The consolidated financial statements have been prepared in accordance with U.S. GAAP and include the accounts of Neonode Inc. and its wholly owned subsidiaries. All inter-company accounts and transactions have been eliminated in consolidation.</p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">The unaudited condensed consolidated balance sheet at June 30, 2015 and the unaudited condensed consolidated statements of operations and comprehensive loss for the three and six months ended June 30, 2015 and cash flows for the six months ended June 30, 2015, include our accounts and those of our wholly owned subsidiaries, Neonode Technologies AB (Sweden), Neonode Americas Inc. (U.S.), Neonode Japan Inc. (Japan), NEON Technology Inc. (U.S.), Neno User Interface Solutions AB (Sweden), Neonode Korea Ltd. (South Korea) and Neonode Taiwan Ltd. (Taiwan).</p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">The audited condensed consolidated balance sheet at December 31, 2014 include our accounts and those of our wholly owned subsidiaries, Neonode Technologies AB (Sweden), Neonode Americas Inc. (U.S.), Neonode Japan Inc. (Japan), NEON Technology Inc. (U.S.), Neno User Interface Solutions AB (Sweden) and Neonode Korea Ltd. (South Korea). &#160;&#160;</p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">The unaudited condensed consolidated statements of operations and comprehensive loss for the three and six months ended June 30, 2014 and cash flows for the six months ended June 30, 2014 include our accounts and those of our wholly owned subsidiaries, Neonode Technologies AB (Sweden), Neonode Americas Inc. (U.S.), Neonode Japan Inc. (Japan), NEON Technology Inc. (U.S.) and Neno User Interface Solutions AB (Sweden).</p></div> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><b><i>Estimates</i></b></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">The preparation of consolidated financial statements in conformity with U.S. GAAP requires making estimates and assumptions that affect, at the date of the consolidated financial statements, the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities and the reported amounts of revenue and expenses. Actual results could differ from these estimates. Significant estimates include, but are not limited to, collectability of accounts receivable, the achievement of substantive milestones and vendor-specific objective evidence (&#8220;VSOE&#8221;) of fair value for purposes of revenue recognition (or deferral of revenue), recoverability of capitalized project costs and long-lived assets, the valuation allowance related to our deferred tax assets and the fair value of options and warrants issued for stock-based compensation.</p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><b><i>Concentration of Cash Balance Risks</i></b></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">Cash balances are maintained at various banks in the U.S., Japan, Korea, Taiwan and Sweden. At times, deposits held with financial institutions in the U.S. may exceed the amount of insurance provided by the U.S. Federal Deposit Insurance Corporation, which provides basic deposit coverage with limits up to $250,000 per owner. The Swedish government provides insurance coverage up to 100,000 Euro per customer and covers deposits in all types of accounts. The Japanese government provides insurance coverage up to 10,000,000 Yen per customer. The Korea Deposit Insurance Corporation provides insurance coverage up to 50,000,000 Won per customer. The Central Deposit Insurance Corporation in Taiwan provides insurance coverage up to 3,000,000 Taiwan Dollar per customer. As of June 30, 2015, we had approximately $2.7 million in excess of insurance limits.</p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><b><i>Accounts Receivable and Allowance for Doubtful Accounts&#160;&#160;</i></b></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px 0px 0px 0.5in; text-indent: 0.5in;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">Our accounts receivable are stated at net realizable value. Our policy is to maintain allowances for estimated losses resulting from the inability of our customers to make required payments. Credit limits are established through a process of reviewing the financial history and stability of each customer. Where appropriate, we obtain credit rating reports and financial statements of the customer when determining or modifying its credit limits. We regularly evaluate the collectability of our trade receivable balances based on a combination of factors. When a customer&#8217;s account balance becomes past due, we initiate dialogue with the customer to determine the cause. If it is determined that the customer will be unable to meet its financial obligation, such as in the case of a bankruptcy filing, deterioration in the customer&#8217;s operating results or financial position or other material events impacting its business, we record a specific allowance to reduce the related receivable to the amount we expect to recover. Should all efforts fail to recover the related receivable, we will write-off the account. We also record an allowance for all customers based on certain other factors including the length of time the receivables are past due and historical collection experience with customers. Our allowance for doubtful accounts was $167,000 as of June 30, 2015 and December 31, 2014.</p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><b><i>Projects in Process</i></b></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px 0px 0px 0.5in; text-indent: 0.5in;"><b><i>&#160;</i></b></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">Projects in process consist of costs incurred toward the completion of various projects for certain customers. These costs are primarily comprised of direct engineering labor costs and project-specific equipment costs. These costs are capitalized on our consolidated balance sheet as an asset and deferred until revenue for each project is recognized in accordance with our revenue recognition policy. Costs capitalized in projects in process were $725,000 and $200,000 as of June 30, 2015 and December 31, 2014, respectively.</p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><b><i>Property and Equipment</i></b></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px 0px 0px 0.5in; text-indent: 0.5in;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">Property and equipment are stated at cost, net of accumulated depreciation and amortization. Depreciation and amortization are computed using the straight-line method based upon estimated useful lives of the assets as follows:</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;"><u>Estimated useful lives</u></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">&#160;</p><table align="center" style="width: 940px; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman', times, serif; font-size: 10pt; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: top; background-color: #cceeff;"><td style="width: 470px; text-indent: 0px; padding: 0px;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">Computer equipment</font></td><td style="width: 470px; text-indent: 0px; padding: 0px;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">3 years</font></td></tr><tr style="vertical-align: top; background-color: white;"><td style="text-indent: 0px; padding: 0px;">Furniture and&#160;&#160;fixtures</td><td style="padding: 0px; text-indent: 0px;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">5 years</font></td></tr></table><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">Equipment purchased under capital leases is amortized on a straight-line basis over the estimated useful life of the asset or the term of the lease, whichever is shorter.</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">Upon retirement or sale of property and equipment, cost and accumulated depreciation and amortization are removed from the accounts and any gains or losses are reflected in the consolidated statement of operations. Maintenance and repairs are charged to expense as incurred.</p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><b><i>Long-lived Assets</i></b></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px 0px 0px 0.5in; text-indent: 0.5in;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">We assess any impairment by estimating the future cash flow from the associated asset in accordance with relevant accounting guidance. If the estimated undiscounted future cash flow related to these assets decreases or the useful life is shorter than originally estimated, we may incur charges for impairment of these assets.&#160;As of June 30, 2015, we believe there was no impairment of our long-lived assets. There can be no assurance, however, that market conditions will not change or sufficient demand for our products and services will continue, which could result in impairment of long-lived assets in the future.</p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><b><i>Foreign Currency Translation and Transaction Gains and Losses</i></b></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px 0px 0px 0.5in; text-indent: 0.5in;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.55in;">The functional currency of our foreign subsidiaries is the applicable local currency, the Swedish Krona, the Japanese Yen, the South Korean Won and the Taiwan Dollar. The translation from Swedish Krona, Japanese Yen, South Korean Won and Taiwan Dollar to U.S. Dollars is performed for balance sheet accounts using current exchange rates in effect at the balance sheet date and for income statement accounts using a weighted-average exchange rate during the period. Gains or (losses) resulting from translation are included as a separate component of accumulated other comprehensive income (loss). Foreign currency translation losses were $(49,000) and $(47,000) during the three and six months ended June 30, 2015, respectively, compared to translation gains of $30,000 and $65,000 during the same periods in 2014, respectively. Gains resulting from foreign currency transactions are included in general and administrative expenses in the accompanying consolidated statements of operations and were $5,000 and $31,000 during the three and six months ended June 30, 2015, respectively, compared to $8,000 and $34,000 during the same periods in 2014, respectively.</p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><b><i>Concentration of Credit and Business Risks</i></b></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">Our customers are located in U.S., Europe and Asia.</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">As of June 30, 2015, two customers represented approximately 90% of the Company&#8217;s accounts receivable.&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">As of December 31, 2014, three customers represented approximately 87% of the Company&#8217;s accounts receivable.&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">Our net revenues for the three and six months ended June 30, 2015 were earned from twenty-one and twenty-seven customers, respectively. Customers who accounted for 10% or more of our net revenues during the three months ended June 30, 2015 are as follows:</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">&#160;</p><table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: top;"><td style="width: 0.75in; padding: 0px; text-indent: 0px;"></td><td style="width: 0.25in; padding: 0px; text-indent: 0px;"><font style="font-family: symbol;">&#183;</font></td><td style="padding: 0px; text-indent: 0px;">Autoliv Development AB &#8211; 31%</td></tr></table><table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: top;"><td style="width: 0.75in; padding: 0px; text-indent: 0px;"></td><td style="width: 0.25in; padding: 0px; text-indent: 0px;"><font style="font-family: symbol;">&#183;</font></td><td style="padding: 0px; text-indent: 0px;">Hewlett Packard Company &#8211; 28%</td></tr></table><table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: top;"><td style="width: 0.75in; padding: 0px; text-indent: 0px;"></td><td style="width: 0.25in; padding: 0px; text-indent: 0px;"><font style="font-family: symbol;">&#183;</font></td><td style="padding: 0px; text-indent: 0px;">Amazon -11%</td></tr></table><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">Customers who accounted for 10% or more of our net revenues during the six months ended June 30, 2015 are as follows:</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">&#160;</p><table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: top;"><td style="width: 0.75in; padding: 0px; text-indent: 0px;"></td><td style="width: 0.25in; padding: 0px; text-indent: 0px;"><font style="font-family: symbol;">&#183;</font></td><td style="padding: 0px; text-indent: 0px;">Hewlett Packard Company &#8211;29%</td></tr></table><table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: top;"><td style="width: 0.75in; padding: 0px; text-indent: 0px;"></td><td style="width: 0.25in; padding: 0px; text-indent: 0px;"><font style="font-family: symbol;">&#183;</font></td><td style="padding: 0px; text-indent: 0px;">Amazon -19%</td></tr></table><table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: top;"><td style="width: 0.75in; padding: 0px; text-indent: 0px;"></td><td style="width: 0.25in; padding: 0px; text-indent: 0px;"><font style="font-family: symbol;">&#183;</font></td><td style="padding: 0px; text-indent: 0px;">Autoliv Development AB &#8211; 17%</td></tr></table><p style="font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px 0px 0px 1in; color: red;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">Our net revenues for the three and six months ended June 30, 2014 were earned from nineteen and twenty-two customers. Customers who accounted for 10% or more of our net revenues during the three months ended June 30, 2014 are as follows:</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">&#160;</p><table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: top;"><td style="width: 0.75in; padding: 0px; text-indent: 0px;"></td><td style="width: 0.25in; padding: 0px; text-indent: 0px;"><font style="font-family: symbol;">&#183;</font></td><td style="padding: 0px; text-indent: 0px;">Delphi Electronics and Safety &#8211; 14%</td></tr></table><table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: top;"><td style="width: 0.75in; padding: 0px; text-indent: 0px;"></td><td style="width: 0.25in; padding: 0px; text-indent: 0px;"><font style="font-family: symbol;">&#183;</font></td><td style="padding: 0px; text-indent: 0px;">Hewlett Packard Company &#8211; 12%</td></tr></table><table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: top;"><td style="width: 0.75in; padding: 0px; text-indent: 0px;"></td><td style="width: 0.25in; padding: 0px; text-indent: 0px;"><font style="font-family: symbol;">&#183;</font></td><td style="padding: 0px; text-indent: 0px;">Netronix Inc. &#8211; 11%</td></tr></table><table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: top;"><td style="width: 0.75in; padding: 0px; text-indent: 0px;"></td><td style="width: 0.25in; padding: 0px; text-indent: 0px;"><font style="font-family: symbol;">&#183;</font></td><td style="padding: 0px; text-indent: 0px;">KOBO Inc. &#8211; 15%</td></tr></table><table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: top;"><td style="width: 0.75in; padding: 0px; text-indent: 0px;"></td><td style="width: 0.25in; padding: 0px; text-indent: 0px;"><font style="font-family: symbol;">&#183;</font></td><td style="padding: 0px; text-indent: 0px;">Wave Group Ltd. &#8211; 11%</td></tr></table><table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: top;"><td style="width: 0.75in; padding: 0px; text-indent: 0px;"></td><td style="width: 0.25in; padding: 0px; text-indent: 0px;"><font style="font-family: symbol;">&#183;</font></td><td style="padding: 0px; text-indent: 0px;">Clarion Industries Co., Ltd. &#8211; 12%</td></tr></table><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px 0px 0px 1in;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">Customers who accounted for 10% or more of our net revenues during the six months ended June 30, 2014 are as follows:</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">&#160;</p><table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: top;"><td style="width: 0.75in; padding: 0px; text-indent: 0px;"></td><td style="width: 0.25in; padding: 0px; text-indent: 0px;"><font style="font-family: symbol;">&#183;</font></td><td style="padding: 0px; text-indent: 0px;">Leap Frog &#8211; 19%</td></tr></table><table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: top;"><td style="width: 0.75in; padding: 0px; text-indent: 0px;"></td><td style="width: 0.25in; padding: 0px; text-indent: 0px;"><font style="font-family: symbol;">&#183;</font></td><td style="padding: 0px; text-indent: 0px;">Kobo Inc. &#8211; 13%</td></tr></table><table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: top;"><td style="width: 0.75in; padding: 0px; text-indent: 0px;"></td><td style="width: 0.25in; padding: 0px; text-indent: 0px;"><font style="font-family: symbol;">&#183;</font></td><td style="padding: 0px; text-indent: 0px;">Netronix Inc. &#8211; 13%</td></tr></table><table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: top;"><td style="width: 0.75in; padding: 0px; text-indent: 0px;"></td><td style="width: 0.25in; padding: 0px; text-indent: 0px;"><font style="font-family: symbol;">&#183;</font></td><td style="padding: 0px; text-indent: 0px;">Sony Corporation. &#8211; 11%</td></tr></table> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><b><i>Revenue Recognition</i></b></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.25in;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><i>Licensing Revenues:</i></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">We derive revenue from the licensing of internally developed intellectual property (&#8220;IP&#8221;). We enter into IP licensing agreements that generally provide licensees the right to incorporate our IP components in their products with terms and conditions that vary by licensee. Fees under these agreements may include license fees relating to our IP and&#160;royalties payable following the distribution by our licensees of products incorporating the licensed technology. The license for our IP has standalone value and can be used by the licensee without maintenance and support. We follow U.S. GAAP for revenue recognition as per unit royalty products are distributed or licensed by our customers.&#160;For technology license arrangements that do not require significant modification or customization of the underlying technology, we recognize technology license revenue when: (1) we enter into a legally binding arrangement with a customer for the license of technology; (2) the customer distributes or licenses the products; (3) the customer payment is deemed fixed or determinable and free of contingencies or significant uncertainties; and (4) collection is reasonably assured. Our customers report to us the quantities of products distributed or licensed by them after the end of the reporting period stipulated in the contract, generally 30 to 45 days after the end of the month or quarter. We recognize licensing revenue in the period in which royalty reports are received, rather than the period in which the products are distributed or to which the license relates.</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">Explicit return rights are not offered to customers. There have been no returns through June 30, 2015.</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><i>Engineering Services:</i></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">We may sell engineering consulting services to our customers on a flat rate or hourly rate basis. We recognize revenue from these services when all of the following conditions are met: (1) evidence existed of an arrangement with the customer, typically consisting of a purchase order or contract; (2) our services were performed and risk of loss passed to the customer; (3) we completed all of the necessary terms of the contract; (4) the amount of revenue to which we were entitled was fixed or determinable; and (5) we believed it was probable that we would be able to collect the amount due from the customer. To the extent that one or more of these conditions has not been satisfied, we defer recognition of revenue.&#160;&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">Generally, we recognize revenue as the engineering services stipulated under the contract are completed and accepted by our customers.&#160;&#160;Engineering services are performed under a signed Statement of Work (&#8220;SOW&#8221;) with a customer. The deliverables and payment terms stipulated under the SOW provide guidance on the project revenue recognition.</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; line-height: 15.3333320617676px; margin: 0px; text-indent: 0.5in;">Revenues from contracts that are short-term in nature and related costs that are difficult to estimate are accounted for under the completed contract method.</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; line-height: 15.3333320617676px; margin: 0px; text-indent: 0.5in;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; line-height: 15.3333320617676px; margin: 0px; text-indent: 0.5in;">Revenues from contracts with substantive defined milestones that we have determined are reasonable, relevant to all the deliverables and payment terms in the SOW that are commensurate with the efforts required to achieve the milestones are recognized under the milestone recognition method.</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">Estimated losses on all SOW projects are recognized in full as soon as they become evident.</p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><b><i>Deferred Revenues</i></b></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.25in;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">From time-to-time we receive pre-payments from our customers related to future services or future license fee revenues.&#160;We defer the license fees until we have met all accounting requirements for revenue recognition as per unit royalty products are distributed and royalty reports are received. Engineering development fee revenues are deferred until such time as the engineering work has been completed and accepted by our customers.</p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><b><i>Advertising</i></b></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">Advertising costs are expensed as incurred. Advertising costs for the three and six months ended June 30, 2015 amounted to approximately $8,000 and $28,000, respectively. Advertising costs for the three and six months ended June 30, 2014 amounted to approximately $23,000 and $129,000, respectively.</p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><b><i>Product Research and Development</i></b></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">Research and development (&#8220;R&amp;D&#8221;) costs are expensed as incurred. R&amp;D costs consist mainly of personnel related costs in addition to some external consultancy costs such as testing, certifying and measurements.&#160;</p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><b><i>Stock-Based Compensation Expense</i></b></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">We measure the cost of employee services received in exchange for an award of equity instruments, including stock options, based on the estimated fair value of the award on the grant date, and recognize the value as compensation expense over the period the employee is required to provide services in exchange for the award, usually the vesting period, net of estimated forfeitures.</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">&#160;We account for equity instruments issued to non-employees at their estimated fair value. The measurement date for the estimated fair value for the equity instruments issued is determined at the earlier of (1) the date at which a commitment for performance by the consultant or vendor is reached, or (2) the date at which the consultant or vendor&#8217;s performance is complete. In the case of equity instruments issued to consultants, the fair value of the equity instruments is primarily recognized over the term of the consulting agreement. The estimated fair value of the stock-based compensation is periodically re-measured and income or expense is recognized during the vesting term.</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">When determining stock-based compensation expense involving options and warrants, we determine the estimated fair value of options and warrants using the Black-Scholes option pricing model.</p> <div> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><b><i>Income Taxes</i></b></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.25in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">We recognize deferred tax liabilities and assets for the expected future tax consequences of items that have been included in the consolidated financial statements or tax returns. We estimate income taxes based on rates in effect in each of the jurisdictions in which we operate. Deferred income tax assets and liabilities are determined based upon differences between the financial statement and income tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The realization of deferred tax assets is based on historical tax positions and expectations about future taxable income. Valuation allowances are recorded against net deferred tax assets when, in our opinion, realization is uncertain based on the &#8220;more likely than not&#8221; criteria of the accounting guidance.</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Based on the uncertainty of future pre-tax income, we fully reserved our net deferred tax assets as of June 30, 2015 and December 31, 2014. In the event we were to determine that we would be able to realize our deferred tax assets in the future, an adjustment to the deferred tax asset would increase income in the period such determination was made. The provision for income taxes represents the net change in deferred tax amounts, plus income taxes paid or payable for the current period.</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">We follow U.S. GAAP related to accounting for uncertainty in income taxes, which provisions include a two-step approach to recognizing, de-recognizing and measuring uncertainty in income taxes.&#160;&#160;As a result, we did not recognize a liability for unrecognized tax benefits.&#160;As of June 30, 2015 and December&#160;31, 2014, we had no unrecognized tax benefits.</p> </div> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><b><i>Net Loss per Share</i></b></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">Net loss per share amounts have been computed based on the weighted average number of shares of common stock outstanding during the three and six months ended June 30, 2015 and 2014. Net loss per share, assuming dilution amounts from common stock equivalents, is computed based on the weighted-average number of shares of common stock and potential common stock equivalents outstanding during the period. The weighted-average number of shares of common stock and potential common stock equivalents used in computing the net loss per share for the three and six months ended June 30, 2015 and 2014 exclude the potential common stock equivalents, as the effect would be anti-dilutive&#160;(See Note 8).</p> <div> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><b><i>Other Comprehensive Income (Loss)&#160;</i></b></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Our other comprehensive income (loss) includes foreign currency translation gains and losses.&#160;The cumulative amount of translation gains and losses are reflected as a separate component of stockholders&#8217; equity in the consolidated balance sheets as accumulated other comprehensive income.</p> </div> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><b><i>Cash Flow Information</i></b></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.55in;">Cash flows in foreign currencies have been converted to U.S. dollars at an approximate weighted-average exchange rate for the respective reporting periods. The weighted-average exchange rate for the condensed consolidated statements of operations and comprehensive loss was 8.42 and 6.60 Swedish Krona to one U.S. Dollar for the three months ended June 30, 2015 and 2014, respectively. The weighted-average exchange rate for the condensed consolidated statements of operations and comprehensive loss was 8.37 and 6.53 Swedish Krona to one U.S. Dollar for the six months ended June 30, 2015 and 2014, respectively. The exchange rate for the condensed consolidated balance sheets was 8.31 and 7.80&#160;Swedish Krona to one U.S. Dollar as of June 30, 2015 and December 31, 2014, respectively.&#160;The weighted-average exchange rate for the condensed consolidated statements of operations and comprehensive loss was 121.29 and 102.12 Japanese Yen to one U.S. Dollar for the three months ended June 30, 2015 and 2014, respectively. The weighted-average exchange rate for the condensed consolidated statements of operations and comprehensive loss was 120.23 and 102.47 Japanese Yen to one U.S. Dollar for the six months ended June 30, 2015 and 2014, respectively. The exchange rate for the condensed consolidated balance sheets was 122.72 and 119.93 Japanese Yen to one U.S. Dollar as of June 30, 2015 and December 31, 2014, respectively.&#160;The weighted-average exchange rate for the condensed consolidated statements of operations and comprehensive loss was 1,096.06 South Korean Won to one U.S. Dollar for the three months ended June 30, 2015. The weighted-average exchange rate for the condensed consolidated statements of operations and comprehensive loss was 1,098.02 South Korean Won to one U.S. Dollar for the six months ended June 30, 2015. The exchange rate for the condensed consolidated balance sheets was 1,126.89 and 1,096.73 South Korean Won to one U.S. Dollar as of June 30, 2015 and December 31, 2014, respectively.&#160;The weighted-average exchange rate for the condensed consolidated statements of operations and comprehensive loss was 30.78 Taiwan Dollar to one U.S. Dollar for the three months ended June 30, 2015. The weighted-average exchange rate for the condensed consolidated statements of operations and comprehensive loss was 31.17 Taiwan Dollar to one U.S. Dollar for the six months ended June 30, 2015. The exchange rate for the condensed consolidated balance sheet was 30.92 Taiwan Dollar to one U.S. Dollar as of June 30, 2015.</p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><b><i>Fair Value of Financial Instruments</i></b></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.25in;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">We disclose the estimated fair values for all financial instruments for which it is practicable to estimate fair value. Financial instruments including cash, accounts receivable, accounts payable and accrued expenses and are deemed to approximate fair value due to their short maturities.</p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><b><i>New Accounting Pronouncements</i></b></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">In May 2014, the Financial Accounting Standards Board (&#8220;FASB&#8221;) issued Accounting Standards Update (&#8220;ASU&#8221;) No. 2014-09, &#8220;<i>Revenue from Contracts with Customers (Topic 606)&#8221;</i>&#160;(&#8220;ASU 2014-09&#8221;). ASU 2014-09 amends the guidance for revenue recognition to replace numerous, industry specific requirements and converges areas under this topic with those of the International Financial Reporting Standards. The ASU implements a five-step process for customer contract revenue recognition that focuses on transfer of control, as opposed to transfer of risk and rewards. The amendment also requires enhanced disclosures regarding the nature, amount, timing and uncertainty of revenues and cash flows from contracts with customers. Other major provisions include the capitalization and amortization of certain contract costs, ensuring the time value of money is considered in the transaction price, and allowing estimates of variable consideration to be recognized before contingencies are resolved in certain circumstances. Entities can transition to the standard either retrospectively or as a cumulative-effect adjustment as of the date of adoption. On July 9, 2015, the FASB approved amendments deferring the effective date by one year to December 15, 2017 for annual reporting periods beginning after that date and permitting early adoption of the standard, but not before the original effective date or for reporting periods beginning after December 15, 2016. We have not yet selected a transition method and are currently assessing the impact the adoption of ASU 2014-09 will have on our consolidated financial statements and disclosures.</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;">In August 2014, the FASB issued ASU No. 2014-15, &#8220;<i>Presentation of Financial Statements - Going Concern: Disclosure of Uncertainties about an Entity&#8217;s Ability to Continue as a Going Concern</i>&#8221;. The amendments in this update provide guidance in U.S. GAAP about management's responsibilities to evaluate whether there is substantial doubt about an entity's ability to continue as a going concern and to provide related footnote disclosures. The main provision of the amendments are for an entity's management, in connection with the preparation of financial statements, to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the entity's ability to continue as a going concern within one year after the date that the financial statements are issued. Management's evaluation should be based on relevant conditions and events that are known or reasonably knowable at the date the consolidated financial statements are issued. When management identifies conditions or events that raise substantial doubt about an entity's ability to continue as a going concern, the entity should disclose information that enables users of the consolidated financial statements to understand all of the following: (1) principal conditions or events that raised substantial doubt about the entity's ability to continue as a going concern (before consideration of management's plans); (2) management's evaluation of the significance of those conditions or events in relation to the entity's ability to meet its obligations; and (3) management's plans that alleviated substantial doubt about the entity's ability to continue as a going concern or management's plans that are intended to mitigate the conditions or events that raise substantial doubt about the entity's ability to continue as a going concern. The amendments in this update are effective for interim and annual reporting periods beginning after December 15, 2016 and early application is permitted. We are currently assessing this guidance for future implementation.</p> <table align="center" style="width: 940px; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman', times, serif; font-size: 10pt; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: top; background-color: #cceeff;"><td style="width: 470px; text-indent: 0px; padding: 0px;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">Computer equipment</font></td><td style="width: 470px; text-indent: 0px; padding: 0px;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">3 years</font></td></tr><tr style="vertical-align: top; background-color: white;"><td style="text-indent: 0px; padding: 0px;">Furniture and&#160;&#160;fixtures</td><td style="padding: 0px; text-indent: 0px;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">5 years</font></td></tr></table> <table style="width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman', times, serif; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td style="font-size: 10pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Shares of Preferred Stock Not Exchanged as of June 30, 2015</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Conversion Ratio</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Shares of Common Stock after Conversion of all Outstanding Shares of Preferred Stock Not yet Exchanged at&#160;June&#160;30,<br />2015</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="width: 1003px; font-size: 10pt;">&#160;</td><td style="width: 16px; font-size: 10pt;">&#160;</td><td style="width: 16px; font-size: 10pt; text-align: left;">&#160;</td><td style="width: 142px; font-size: 10pt; text-align: right;">&#160;</td><td style="width: 16px; font-size: 10pt; text-align: left;">&#160;</td><td style="width: 16px; font-size: 10pt;">&#160;</td><td style="width: 16px; font-size: 10pt; text-align: left;">&#160;</td><td style="width: 141px; font-size: 10pt; text-align: right;">&#160;</td><td style="width: 15px; font-size: 10pt; text-align: left;">&#160;</td><td style="width: 15px; font-size: 10pt;">&#160;</td><td style="width: 15px; font-size: 10pt; text-align: left;">&#160;</td><td style="width: 141px; font-size: 10pt; text-align: right;">&#160;</td><td style="width: 15px; font-size: 10pt; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left; padding-bottom: 4pt;">Series B Preferred stock</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">83</td><td style="padding-bottom: 4pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 4pt;">&#160;</td><td style="padding-bottom: 4pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="padding-bottom: 4pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">132.07</td><td style="padding-bottom: 4pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">10,962</td></tr></table> <table style="width: 1567px; border-collapse: collapse;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td style="font-size: 10pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6">Three months ended&#160;&#160;<br />June 30,</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6">Six months ended&#160;&#160;<br />June 30,</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td></tr><tr style="vertical-align: bottom;"><td style="font-size: 10pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2015</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2014</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2015</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2014</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 815px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">Product research and development</td><td style="width: 16px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="width: 16px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">$</td><td style="width: 142px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">99</td><td style="width: 16px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="width: 16px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="width: 16px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">$</td><td style="width: 142px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">92</td><td style="width: 16px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="width: 15px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="width: 15px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">$</td><td style="width: 141px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">322</td><td style="width: 15px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="width: 15px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="width: 15px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">$</td><td style="width: 141px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">360</td><td style="width: 15px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">Sales and marketing</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">66</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">76</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">172</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">251</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left; padding-bottom: 1.5pt;">General and administrative</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">9</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">175</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">278</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">804</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left; padding-bottom: 4pt;">Total stock-based compensation expense</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">174</td><td style="padding-bottom: 4pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">343</td><td style="padding-bottom: 4pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">772</td><td style="padding-bottom: 4pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">1,415</td><td style="padding-bottom: 4pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td></tr></table><p style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; margin: 0px;">&#160;</p><table style="width: 1567px; border-collapse: collapse;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td style="font-size: 10pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Remaining unrecognized&#160;<br />expense at&#160;<br />June 30,<br />2015</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="color: #000000; font-family: 'times new roman', times, serif; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; width: 1379px; font-stretch: normal; font-size: 10pt; padding-bottom: 4pt;">Stock-based compensation</td><td style="color: #000000; font-family: 'times new roman', times, serif; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; width: 16px; font-stretch: normal; font-size: 10pt; padding-bottom: 4pt;">&#160;</td><td style="color: #000000; font-family: 'times new roman', times, serif; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; width: 16px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-stretch: normal; font-size: 10pt; text-align: left;">$</td><td style="color: #000000; font-family: 'times new roman', times, serif; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; width: 141px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-stretch: normal; font-size: 10pt; text-align: right;">1,038</td></tr></table> <table style="width: 1567px; border-collapse: collapse;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td style="font-size: 10pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Number of Options Outstanding</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Weighted Average Exercise Price</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 1191px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">Outstanding at January 1, 2015</td><td style="width: 16px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="width: 16px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="width: 142px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">1,709,400</td><td style="width: 16px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="width: 15px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="width: 15px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">$</td><td style="width: 141px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">4.92</td><td style="width: 15px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">Granted</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">590,000</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">3.56</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">Expired/forfeited</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">(3,200</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">)</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">86.25</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="color: #000000; font-family: 'times new roman', times, serif; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; font-size: 10pt; padding-bottom: 4pt;">Outstanding at June 30, 2015</td><td style="color: #000000; font-family: 'times new roman', times, serif; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; font-size: 10pt; padding-bottom: 4pt;">&#160;</td><td style="color: #000000; font-family: 'times new roman', times, serif; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-stretch: normal; font-size: 10pt; text-align: left;">&#160;</td><td style="color: #000000; font-family: 'times new roman', times, serif; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-stretch: normal; font-size: 10pt; text-align: right;">2,296,200</td><td style="color: #000000; font-family: 'times new roman', times, serif; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; padding-bottom: 4pt; font-stretch: normal; font-size: 10pt; text-align: left;">&#160;</td><td style="color: #000000; font-family: 'times new roman', times, serif; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; font-size: 10pt; padding-bottom: 4pt;">&#160;</td><td style="color: #000000; font-family: 'times new roman', times, serif; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-stretch: normal; font-size: 10pt; text-align: left;">$</td><td style="color: #000000; font-family: 'times new roman', times, serif; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-stretch: normal; font-size: 10pt; text-align: right;">4.46</td></tr></table> <table style="width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman', times, serif; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">Description</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Issue&#160;&#160;Date</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Exercise<br />Price</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Shares</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Expiration Date</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td></tr><tr style="vertical-align: bottom;"><td style="font-size: 10pt;">&#160;</td><td style="font-size: 10pt;">&#160;</td><td style="font-size: 10pt;" colspan="2">&#160;</td><td style="font-size: 10pt;">&#160;</td><td style="font-size: 10pt;">&#160;</td><td style="font-size: 10pt;" colspan="2">&#160;</td><td style="font-size: 10pt;">&#160;</td><td style="font-size: 10pt;">&#160;</td><td style="font-size: 10pt;" colspan="2">&#160;</td><td style="font-size: 10pt;">&#160;</td><td style="font-size: 10pt;">&#160;</td><td style="font-size: 10pt;" colspan="2">&#160;</td><td style="font-size: 10pt;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 815px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">2007 Debt Extension Warrants</td><td style="width: 16px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="width: 16px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="width: 142px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">9/22/2010</td><td style="width: 16px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;"></td><td style="width: 16px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="width: 16px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">$</td><td style="width: 142px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">1.00</td><td style="width: 16px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="width: 15px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="width: 15px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="width: 141px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">16,000</td><td style="width: 15px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="width: 15px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="width: 15px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="width: 141px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">9/22/2015</td><td style="width: 15px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;"></td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">December 2010 Employee Warrants</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">12/3/2010</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;"></td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">$</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">1.63</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">200,000</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">12/3/2015</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;"></td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">February 2011 Legal Advisor Warrant</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">2/22/2011</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;"></td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">$</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">2.50</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">80,000</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">2/22/2016</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;"></td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">March&#160;&#160;2011 Investor Warrants</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">3/9/2011</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;"></td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">$</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">3.13</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">349,973</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">3/9/2016</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;"></td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">March&#160;&#160;2011 Investor Warrants</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">4/7/2011</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;"></td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">$</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">3.13</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">34,100</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">4/7/2016</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;"></td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">May 2014 Agent Warrant</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">5/15/2014</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;"></td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">$</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">5.09</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">75,000</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">11/15/2015</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;"></td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">May 2014 Investor Warrant</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">5/15/2014</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;"></td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">$</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">5.09</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">2,500,000</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">11/15/2015</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;"></td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left; padding-bottom: 4pt;">Total Warrants Outstanding</td><td style="font-size: 10pt; padding-bottom: 4pt;">&#160;</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left;">&#160;</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: right;">&#160;</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left;">&#160;</td><td style="font-size: 10pt; padding-bottom: 4pt;">&#160;</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left;">&#160;</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: right;">&#160;</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">3,255,073</td><td style="padding-bottom: 4pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td></tr></table> <table style="width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman', times, serif; font-size: 10pt; word-spacing: 0px; widows: 1; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr><td style="width: 1364px;">&#160;</td><td style="width: 15px;">&#160;</td><td style="width: 188px; text-align: center;"><font style="font-size: 10pt;">For the six months ended</font></td></tr><tr><td>&#160;</td><td>&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: center;"><font style="font-size: 10pt;">June 30,<br />2015</font></td></tr><tr><td>&#160;</td><td>&#160;</td><td>&#160;</td></tr><tr style="background-color: #cceeff;"><td><font style="font-size: 10pt;">Annual dividend yield</font></td><td>&#160;</td><td style="text-align: center;"><font style="font-size: 10pt;">-</font></td></tr><tr style="background-color: white;"><td><font style="font-size: 10pt;">Expected life (years)</font></td><td>&#160;</td><td style="text-align: center;"><font style="font-size: 10pt;">1.50 - 4.35</font></td></tr><tr style="background-color: #cceeff;"><td><font style="font-size: 10pt;">Risk-free interest rate</font></td><td>&#160;</td><td style="text-align: center;"><font style="font-size: 10pt;">0.47% - 1.41%</font></td></tr><tr style="background-color: white;"><td><font style="font-size: 10pt;">Expected volatility</font></td><td>&#160;</td><td style="text-align: center;"><font style="font-size: 10pt;">68% - 72%</font></td></tr></table> <table style="width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman', times, serif; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td style="font-size: 10pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="10">June 30, 2015</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td></tr><tr style="vertical-align: bottom;"><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">Outstanding and exercisable</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Warrants</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Weighted Average Exercise Price</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Weighted Average&#160;<br />Remaining Contractual Life</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 1003px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">January 1, 2015</td><td style="width: 16px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="width: 16px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="width: 142px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">3,335,073</td><td style="width: 16px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="width: 16px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="width: 16px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">$</td><td style="width: 141px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">4.45</td><td style="width: 15px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="width: 15px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="width: 15px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="width: 141px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">0.93</td><td style="width: 15px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;&#160;&#160;Granted</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">-</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">-</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">-</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;&#160;&#160;Expired/cancelled</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">(80,000</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">)</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">0.50</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">-</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;&#160;&#160;Exercised</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">-</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">-</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">-</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 4pt;">Outstanding and exercisable, June 30, 2015</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">3,255,073</td><td style="padding-bottom: 4pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">4.55</td><td style="padding-bottom: 4pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">0.42</td></tr></table> <table style="width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman', times, serif; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td style="font-size: 10pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6">Three months ended&#160;<br />June 30, 2015</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6">Three months ended&#160;<br />June 30, 2014</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td></tr><tr style="vertical-align: bottom;"><td style="font-size: 10pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Amount</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Percentage</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Amount</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Percentage</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 815px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">Net revenues from customers&#160;in the Americas</td><td style="width: 16px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="width: 16px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">$</td><td style="width: 142px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">1,557</td><td style="width: 16px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="width: 16px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="width: 16px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="width: 142px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">56</td><td style="width: 16px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">%</td><td style="width: 15px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="width: 15px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">$</td><td style="width: 141px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">350</td><td style="width: 15px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="width: 15px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="width: 15px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="width: 141px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">39</td><td style="width: 15px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">%</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">Net revenues from customers in Asia</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">266</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">10</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">%</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">515</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">61</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">%</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left; padding-bottom: 1.5pt;">Net revenues from customers in Europe</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">953</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">34</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">%</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">-</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">-</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">%</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="font-size: 10pt; padding-bottom: 4pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">2,776</td><td style="padding-bottom: 4pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">100</td><td style="padding-bottom: 4pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">%</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">865</td><td style="padding-bottom: 4pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">100</td><td style="padding-bottom: 4pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">%</td></tr></table><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><b>&#160;</b></p><table style="width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman', times, serif; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td style="font-size: 10pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6">Six months ended&#160;<br />June 30, 2015</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6">Six months ended&#160;<br />June 30, 2014</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td></tr><tr style="vertical-align: bottom;"><td style="font-size: 10pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Amount</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Percentage</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Amount</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Percentage</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 815px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">Net revenues from customers&#160;in the Americas</td><td style="width: 16px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="width: 16px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">$</td><td style="width: 142px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">3,250</td><td style="width: 16px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="width: 16px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="width: 16px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="width: 142px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">65</td><td style="width: 16px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">%</td><td style="width: 15px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="width: 15px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">$</td><td style="width: 141px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">1,018</td><td style="width: 15px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="width: 15px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="width: 15px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="width: 141px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">54</td><td style="width: 15px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">%</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">Net revenues from customers in Asia</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">679</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">13</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">%</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">836</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">45</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">%</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left; padding-bottom: 1.5pt;">Net revenues from customers in Europe</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">1,110</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">22</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">%</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">25</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">1</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">%</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="font-size: 10pt; padding-bottom: 4pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">5,039</td><td style="padding-bottom: 4pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">100</td><td style="padding-bottom: 4pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">%</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">1,879</td><td style="padding-bottom: 4pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">100</td><td style="padding-bottom: 4pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">%</td></tr></table><div>&#160;</div> <table style="width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman', times, serif; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">(in thousands, except per share amounts)</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6">Three months ended&#160;<br />June 30,</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td></tr><tr style="vertical-align: bottom;"><td style="font-size: 10pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2015</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2014</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td></tr><tr style="vertical-align: bottom;"><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"><b>BASIC AND DILUTED</b></font></td><td style="font-size: 10pt;">&#160;</td><td style="font-size: 10pt;" colspan="2">&#160;</td><td style="font-size: 10pt;">&#160;</td><td style="font-size: 10pt;">&#160;</td><td style="font-size: 10pt;" colspan="2">&#160;</td><td style="font-size: 10pt;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 1191px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">Weighted average number of&#160;common shares outstanding</td><td style="width: 16px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="width: 16px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="width: 142px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">40,499</td><td style="width: 16px; padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="width: 15px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="width: 15px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="width: 141px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">39,233</td><td style="width: 15px; padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left; padding-bottom: 4pt;">Net loss</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">(1,792</td><td style="padding-bottom: 4pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">)</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">(3,874</td><td style="padding-bottom: 4pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">)</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="font-size: 10pt;">&#160;</td><td style="font-size: 10pt;">&#160;</td><td style="font-size: 10pt; text-align: left;">&#160;</td><td style="font-size: 10pt; text-align: right;">&#160;</td><td style="font-size: 10pt; text-align: left;">&#160;</td><td style="font-size: 10pt;">&#160;</td><td style="font-size: 10pt; text-align: left;">&#160;</td><td style="font-size: 10pt; text-align: right;">&#160;</td><td style="font-size: 10pt; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left; padding-bottom: 4pt;">Net loss per share - basic and diluted</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">(0.04</td><td style="padding-bottom: 4pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">)</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">(0.10</td><td style="padding-bottom: 4pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">)</td></tr></table><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;">&#160;</p><table style="width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman', times, serif; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">(in thousands, except per share amounts)</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6">Six months ended&#160;<br />June 30,</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td></tr><tr style="vertical-align: bottom;"><td style="font-size: 10pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2015</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2014</td><td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</td></tr><tr style="vertical-align: bottom;"><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"><b>BASIC AND DILUTED</b></font></td><td style="font-size: 10pt;">&#160;</td><td style="font-size: 10pt;" colspan="2">&#160;</td><td style="font-size: 10pt;">&#160;</td><td style="font-size: 10pt;">&#160;</td><td style="font-size: 10pt;" colspan="2">&#160;</td><td style="font-size: 10pt;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 1191px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">Weighted average number of&#160;common shares outstanding</td><td style="width: 16px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="width: 16px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="width: 142px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">40,477</td><td style="width: 16px; padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="width: 15px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;">&#160;</td><td style="width: 15px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td><td style="width: 141px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">38,587</td><td style="width: 15px; padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left; padding-bottom: 4pt;">Net loss</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">(3,864</td><td style="padding-bottom: 4pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">)</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">(7,882</td><td style="padding-bottom: 4pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">)</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="font-size: 10pt;">&#160;</td><td style="font-size: 10pt;">&#160;</td><td style="font-size: 10pt; text-align: left;">&#160;</td><td style="font-size: 10pt; text-align: right;">&#160;</td><td style="font-size: 10pt; text-align: left;">&#160;</td><td style="font-size: 10pt;">&#160;</td><td style="font-size: 10pt; text-align: left;">&#160;</td><td style="font-size: 10pt; text-align: right;">&#160;</td><td style="font-size: 10pt; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left; padding-bottom: 4pt;">Net loss per share - basic and diluted</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">(0.10</td><td style="padding-bottom: 4pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">)</td><td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: right;">(0.20</td><td style="padding-bottom: 4pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: left;">)</td></tr></table> 5000000 P3Y P5Y 10000000 100000 50000000 250000 167000 167000 200000 725000 8000 34000 5000 31000 0.10 0.15 0.11 0.12 0.11 0.12 0.14 0.10 0.13 0.13 0.11 0.19 0.85 0.14 0.87 0.10 0.28 0.11 0.31 0.74 0.10 0.29 0.24 0.90 0.19 0.17 23000 129000 8000 28000 6.60 8.42 2700000 6.53 8.37 7.80 8.31 1.2012 1.0247 1.2129 1.2023 1.1993 1.2272 1096.06 1098.02 19 22 3 21 27 2 3000000 30.78 31.17 30.92 1096.73 1126.89 4 5 1 5 132.07 10962 83 132.07 80000 69632 343000 92000 76000 175000 1415000 360000 251000 804000 174000 99000 66000 9000 772000 322000 172000 278000 1038000 3335073 1709400 3255073 2296200 590000 -3200 4.45 4.92 4.55 4.46 3.56 0.50 86.25 P1Y6M P4Y4M6D 0.0047 0.0141 0.68 0.72 -80000 P11M5D P5M1D 2014-05-15 2014-05-15 2010-09-22 2010-12-03 2011-02-22 2011-04-07 2011-03-09 5.09 5.09 1.00 1.63 2.50 3.13 3.13 3255073 2500000 75000 16000 200000 80000 34100 349973 2015-11-15 2015-11-15 2015-09-22 2015-12-03 2016-02-22 2016-04-07 2016-03-09 265000 265000 4.15 2018-03-03 0.70 185500 P1Y10M24D 34000 500000 90000 600000 1.26 2100000 500000 500000 Under the terms of the NN1001 Agreement, we will reimburse TI an NRE fee of $0.08 per unit for each of the first one million units sold and $0.05 for the next eight million units sold. Under the terms of the NN1002 Agreement we will reimburse TI an NRE fee of $0.25 per unit for each of the first two million units sold. The $500,000 of NRE development costs under the NN1001 agreement has been reached. 0.08 0.05 0.25 42000 74000 0 20000 1.00 0.61 0.39 1.00 0.01 0.45 0.54 1.00 0.34 0.10 0.56 1.00 0.22 0.13 0.65 1 39233 38587 40499 40477 600000 300000 11000 200000 43000 11000 EX-101.SCH 7 neond-20150630.xsd XBRL SCHEMA FILE 001 - Document - Document and Entity Information link:presentationLink link:definitionLink link:calculationLink 002 - Statement - Condensed Consolidated Balance Sheets (Unaudited) link:presentationLink link:definitionLink link:calculationLink 003 - Statement - Condensed Consolidated Balance Sheets (Unaudited)(Parenthetical) link:presentationLink link:definitionLink link:calculationLink 004 - Statement - Condensed Consolidated Statements of Operations (Unaudited) link:presentationLink link:definitionLink link:calculationLink 005 - Statement - Condensed Consolidated Statements of Comprehensive Loss (Unaudited) link:presentationLink link:definitionLink link:calculationLink 006 - Statement - Condensed Consolidated Statements of Cash Flows (Unaudited) link:presentationLink link:definitionLink link:calculationLink 007 - Disclosure - Interim Period Reporting link:presentationLink link:definitionLink link:calculationLink 008 - Disclosure - Summary of Significant Accounting Policies link:presentationLink link:definitionLink link:calculationLink 009 - Disclosure - Deferred Revenues link:presentationLink link:definitionLink link:calculationLink 010 - Disclosure - Stockholders' Equity link:presentationLink link:definitionLink link:calculationLink 011 - Disclosure - Stock-Based Compensation link:presentationLink link:definitionLink link:calculationLink 012 - Disclosure - Commitments and Contingencies link:presentationLink link:definitionLink link:calculationLink 013 - Disclosure - Segment Information link:presentationLink link:definitionLink link:calculationLink 014 - Disclosure - Net Loss Per Share link:presentationLink link:definitionLink link:calculationLink 015 - Disclosure - Subsequent Events link:presentationLink link:definitionLink link:calculationLink 016 - Disclosure - Summary of Significant Accounting Policies (Policies) link:presentationLink link:definitionLink link:calculationLink 017 - Disclosure - Summary of Significant Accounting Policies (Tables) link:presentationLink link:definitionLink link:calculationLink 018 - Disclosure - Stockholders' Equity (Tables) link:presentationLink link:definitionLink link:calculationLink 019 - Disclosure - Stock-Based Compensation (Tables) link:presentationLink link:definitionLink link:calculationLink 020 - Disclosure - Segment Information (Tables) link:presentationLink link:definitionLink link:calculationLink 021 - Disclosure - Net Loss Per Share (Tables) link:presentationLink link:definitionLink link:calculationLink 022 - Disclosure - Interim Period Reporting (Details Textual) link:presentationLink link:definitionLink link:calculationLink 023 - Disclosure - Summary of Significant Accounting Policies (Details) link:presentationLink link:definitionLink link:calculationLink 024 - Disclosure - Summary of Significant Accounting Policies (Details Textual) link:presentationLink link:definitionLink link:calculationLink 025 - Disclosure - Deferred Revenues (Details) link:presentationLink link:definitionLink link:calculationLink 026 - Disclosure - Stockholders' Equity (Details) link:presentationLink link:definitionLink link:calculationLink 027 - Disclosure - Stockholders' Equity (Details Textual) link:presentationLink link:definitionLink link:calculationLink 028 - Disclosure - Stock-Based Compensation (Details) link:presentationLink link:definitionLink link:calculationLink 029 - Disclosure - Stock-Based Compensation (Details 1) link:presentationLink link:definitionLink link:calculationLink 030 - Disclosure - Stock-Based Compensation (Details 2) link:presentationLink link:definitionLink link:calculationLink 031 - Disclosure - Stock-Based Compensation (Details 3) link:presentationLink link:definitionLink link:calculationLink 032 - Disclosure - Stock-Based Compensation (Details 4) link:presentationLink link:definitionLink link:calculationLink 033 - Disclosure - Stock Based Compensation (Details Textual) link:presentationLink link:definitionLink link:calculationLink 034 - Disclosure - Commitments and Contingencies (Details) link:presentationLink link:definitionLink link:calculationLink 035 - Disclosure - Segment Information (Details) link:presentationLink link:definitionLink link:calculationLink 036 - Disclosure - Segment Information (Details Textual) link:presentationLink link:definitionLink link:calculationLink 037 - Disclosure - Net Loss Per Share (Details) link:presentationLink link:definitionLink link:calculationLink 038 - Disclosure - Net Loss Per Share (Details Textual) link:presentationLink link:definitionLink link:calculationLink EX-101.CAL 8 neond-20150630_cal.xml XBRL CALCULATION FILE EX-101.DEF 9 neond-20150630_def.xml XBRL DEFINITION FILE EX-101.LAB 10 neond-20150630_lab.xml XBRL LABEL FILE EXCEL 11 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx M4$L#!!0````(`/A%!D>WR^U-OP$``*\8```3````6T-O;G1E;G1?5'EP97-= M+GAM;,V9S4[#,!"$7Z7*%36N;?Y%>P&N@`0O8))M8S6.+=N4\O;8*2"H"FJ! M2G/)3V>],\DZWZ47#R^.PF!IVBZ,BR9&=\Y8J!HR*I3649>4J?5&Q73K9\RI M:JYFQ,1H=,PJVT7JXC#F'L7DXG9!WNN:!I%\JY5EO=1W: MZ5175-OJR:0E94S6=)#T8G"G?+Q1)K5@RY;UPNK(RZRS_S$,SI.J0T,435N& M^-)2V.2_4MZ=KVBJGMJXD_';NRL]M7U-:+1[L[I>IBXA_38NDAJV]89>DXKND!I9:_\G[?:=4UM-6AKEPCQ]%HSS5]]&G^6[^-CX7 M["]'GFM__=W0>S&P_K1'2.R40X#DD"`Y#D%R'('D.`;)<0*2XQ0DQQE(#CY" M"8)"5(Z"5(["5(X"58Y"58Z"58["58X"5HY"5H%"5H%"5H%"5H%"5H%"5H%" M5H%"5H%"5H%"5H%"5HE"5HE"5HE"5HE"5HE"5HE"5HE"5HE"5OE!5M;_3S%Y M!5!+`P04````"`#X109'2'4%[L4````K`@``"P```%]R96QS+RYR96QSK9++ M;L)`#$5_)9I]<4HE%A%AQ88=0OR`.^,\E,QXY#$B_?N.V(#"0ZW$TJ][CZZ\ M#JFL#C2B]AQ2U\=43'X,JQW8OG*\M"_V/Z'D4X$G1H>)%]2-F`Q+M*;V"^GH`A3&^ M.R6:E((C-Z."N[_8_`)02P,$%`````@`^$4&1P8^A_29`0``SQ<``!H```!X M;"]?&?/ODKC;671NJN@^S M]^;:ANWP?Y]5,?9;8T)1N<:&AZYW[;!Z[GQCX_#I2]/;XF)+9SC/E\9/YV2' MW<_9L^-IG_GCB;+9B_6EB_OLK?.74#D7@QE?]#!L,"S?>O>?[;OSN2[<8U>\ M-JZ-?U28KPTRDP[B=!!#@B0=))"@>3IH#@E:I(,6D*!E.F@)"5JE@U:0H'4Z M:`T)VJ2#-I`@RA49C-&;%;T9HSC-& M;U;T9HS>K.C-&+U9T9LQ>K.B-V/T%D5OP>@MBMZ"T5L4O05T5Z)=EF#T%D5O MP>@MBMZ"T5L4O06CMRAZ"T9O4?06C-XRT3M4UKO3<_1U6X9[UWP;KEY/3O`. M\79U]T\9IZH-$ZWCL),SX_/N3H]3/T/,K[O[PP=02P,$%`````@`^$4&1^(^ MV]*7`@``LPH``!````!D;V-0&ULO591;]I`#/XKI[RL>VA# MH>LZ1".U@+1*W88&ZYZ/BP,GDKOT?$'07S\G`19*N$$>Q@,XSO?9Y\]V0D]A MJSLR.@5C)2!;);'"+CGOO;FU:=?W4_Y[0,&@ MR&,0F9%V';1*3-558,:"Q]"G7$'$8X02]==98/HZ2;E:^^75LU0+_)5.](!; MJ++V;Y31Y]Q`2$GWHN^;KFNJ,2C4;<6DPZ"UM=PG":K-IT](V[5*H1=YT?)G0^=!C4XZ0F_?>DAO) ME?48RC>Z;'MEVM);V'&*U@2_M5G@',!BS]\Y"[.*K=KR)NC<%0BR]I'^KK)@ M(]M>W;EG(FT,^",:<6/_DQ1%35LA.G=>I?IM",95R(;*TCBR)U6FHN95)=E9 M?4U[H1!"1A;J6(8T9B%[Y#%7`E@#3N<=3`\YM+>=)63`R82/Z MUB'[":FF1X2:U8+'69)PLV8Z8F,Y4Y)Z1]/"'H30&4E>RQE`!(:VDT(O066` M]9&M%HNYCD/:M0]L^)I1_XX#+Q]Y665"$X6N!B>)M/E88#$7)$M>&R@ACYT# M9L44_6MTOH-ESQHQUXT5CY\C@DT17K,\XG"9'^-\6:_K^^;F?#Y99'8QX5/: MXX]GJ;UAG2JA.\FAEF[\L9%E%P.PO'X*G7*UZ]?6S;DY;=HWAXI=`A^TI#F% M3<[LHT,R%Z?]Y7Q.I]6`<]V`TS[.8>=IX'R`L(O3Y]_=40>#3>JWK&YIG$D< M!,JQ.OC/4'WYOWO5^_M_48,_4$L#!!0````(`/A%!D?]=W;A/P$``&D#```1 M````9&]C4')O<',O8V]R92YX;6S-DTU/PS`,AO\*ZKU+NR^FJ.L!$"[EP588(3J$"!1D_R04Z2\E5OM:EU07I]603'%?.X,$*N)(B[ MIB_[G0J=$9SR1SF(KGW\^Z>'F"%)6[GWLJNJZWI0CV)=&#@G[XNGEW@VJ=0> MF>805%Y2;"S,DU/GM]']P_(Q*8=9/DFS69I-E]F,CF_I>/)QF.S"7V]8M4/\ M6\KSXZO)RPLK5QS3'U([IX5>4W4$L#!!0````(`/A%!D>97)PC$`8` M`)PG```3````>&PO=&AE;64O=&AE;64Q+GAM;.U:6W/:.!1^[Z_0>&?V;0O& M-H&VM!-S:7;;M)F$[4X?A1%8C6QY9)&$?[]'-A#+E@WMDDVZFSP$+.G[SD5' MY^@X>?/N+F+HAHB4\GA@V2_;UKNW+][@5S(D$4$P&:>O\,`*I4Q>M5II`,,X M?+&A`T%116F]? M(+3E'S/X%/F7/Z3H=,H%N,!M8('_.;Z?D M3EJ(X53"Q,!J9S]6:\?1TDB`@LE]E`6Z2?:CTQ4(,@T[.IU8SG9\]L3MGXS* MVG0T;1K@X_%X.+;+THMP'`3@4;N>PIWT;+^D00FTHVG09-CVVJZ1IJJ-4T_3 M]WW?ZYMHG`J-6T_3:W?=TXZ)QJW0>`V^\4^'PZZ)QJO0=.MI)B?]KFNDZ19H M0D;CZWH2%;7E0-,@`%AP=M;,T@.67BGZ=90:V1V[W4%<\%CN.8D1_L;%!-9I MTAF6-$9RG9`%#@`WQ-%,4'RO0;:*X,*2TER0UL\IM5`:")K(@?5'@B'%W*_] M]9>[R:0S>IU].LYKE']IJP&G[;N;SY/\<^CDGZ>3UTU"SG"\+`GQ^R-;88C'(CN]WV6'WV3T=N M(]>IP+,BUY1&)$6?R"VZY!$XM4D-,A,_")V&F&I0'`*D"3&6H8;XM,:L$>`3 M?;>^",C?C8CWJV^:/5>A6$G:A/@01AKBG'/F<]%L^P>E1M'V5;SCFED)O816:I^JAS0^J!XR"@7QN1X^Y7IX"C>6QKQ0 MKH)[`?_1VC?"J_B"P#E_+GW/I>^Y]#VATK\>WZV22$KYI9+2,6D$N!LT$DN/R+RO`J MQ`GH9%LE"0AMNZ5/U2I77Y:^Y*+@\6^3IKZ%T/BS/^3Q?Y[3- M"S-#MW)+ZK:4OK4F.$KTL@'37[]EUVY".E,%.70[@: M0KX#;;J=W#HXGIB1N0K34I!OP_GIQ7@:XCG9!+E]F%=MY]C1T?OGP5&PH^\\ MEAW'B/*B(>ZAAIC/PT.'>7M?F&>5QE`T%&ULK"0L1K=@N-?Q+!3@9&`MH`># MKU$"\E)58#%;Q@,KD*)\3(Q%Z'#GEUQ?X]&2X]NF9;5NKREW&6TB4CG":9@3 M9ZO*WF6QP54=SU5;\K"^:CVT%4[/_EFMR)\,$4X6"Q)(8Y07IDJB\QE3ON>;G*YZ(G;ZEW?!8/+]<,E'#^4[YU_T74.N?O;=X_INDSM(3)QYQ1$! M=$4"(Y4U#VT%SU&\Z.9X!ZSAW.;>KC"1:S_ M6-8>^3+?.7#;.MX#7N83+$.D?L%]BHJ`$:MBOKJO3_DEG#NT>_&!()O\UMND M]MW@#'S4JUJE9"L1/TL'?!^2!F.,6_0T7X\48JVFL:W&VC$,>8!8\PRA9CC? MAT6:&C/5BZPYC0IO0=5`Y3_;U`UH]@TT')$%7C&9MC:CY$X*/-S^[PVPPL2. MX>V+OP%02P,$%`````@`^$4&1_Q1G[F,`@``5`T```T```!X;"]S='EL97,N M>&ULS9?=;MHP%,=?Q7*GJ94FDM`5VC6)-%5#FK95D^!B=Y5#'+#DC\QQ&/2R M[[*+O<8>94\R?X0$$!DMHQ7D5F`M'#'L M(FX0)8DDQI@A1NC"F;O&8)NXBF.$"VESNPR;>3I^DTE.D@CZU>_QZ9*&;@>S M/4+I^O:T(0YSI!26?*`O0#4?+7*].2XX=B)MW([HB42+H'NQLL`..F\B9(IE MG3F`2U,<4IPIO4"2R=2,2N1&NE!*,#U)"9H(CJA!+E=4$XT=8TJ'YI'Q+5MC MSS/@8LQ_[$-@5"RGNA#5M&D#UP2K-,=>Q;[=BPOF69U`KT9Y3A?O*9EPAIU8 M9QJ(ZFH7/FC!QR%:4L%42'*OXTTCC+4!2PAF6"HR7K7\D"@?X;FJ.MB;9VT* M]]WRR>WIMN2)5@.[&/QZ9+.^[O_,GMWP@V9+]LU>T@X M0'',&_YHI?6.5]KS]-1!I%T>K[2KHY76/]H[]/Q_B^95;_J5X\3:8:*V@J0D M5!&^E(#,\>_6R*9K[_GF(*&9Z;PY0UBO0HG^Q%G+HF$ISE!)U5-EN4[21& M76!ILBU`UQ6UT3[3TMDF0I$J225I__H=)6<]UVQ'-M;)C[1;:+L9F/1J'<0:W"[ZX!B\\VSMULV.DF9'M:>`TM-!Y4%78`L38]K%;:9F_?A/E&&_@,/B!8J*;Y MH&I89,\F$T:%>%?I"-4BFV#5/<%!@V^;FU:;5)F.I]DHP5Z6^M&+TE70PU8[ M';[L'V2B@HUJ35SA9%_&762YG$@YZQGIM<\:G@(%I@:ARJ@?8:76BVR<"=5& M]ZV\_NYL5&99 M>F=,URL]Z#KA".'_%IQCU.7!BU&M/Z636&2S,0(?==!K;73\MLBZLH&TDM%/ M2^FV_T=)V&YS7HY8*%N).QN1(NYM?WBX-6D.^/)]U0WLYQH+_K[*^ZVBH'?. M5F`#5`)+P1E=X:Y4XD8994L0!"0)2)X+*@BH(*#BU:!EQ#]<,@%-"&AR+FA* M0%,"FIX+FA'0C(!FQZ![B]KI6GS$7U>)3]`XM,1N">&2$"Z/"DVZ7C-SB*Y\V#E3 MX37\1=Q];5$^*MR8&C<^T?^W&]5O:(UQ)QQ)>V`MJVU=ZYAN0.BN`!Y,VDBP MI3Y82DZMS1EME[#M[M&)RT-=S1E9/V#IO0LA':E8[I0'VIL*FC.&+MMU@*]M M&O_N,:V%=J92YHR5@RKDU,J<:IDS7@ZC+BF*^IES@C)RB`L,C0;"KQ1$_/NJ2@@+FXA*GJ'Y4',Y>P= M.CA)@ZZD)DO&Y&'4A**HUI+1^BBV[%=F#O>)"BXYP5F5.!+U6W)^#Y'$BJ*H MW_*4WZR61X='#9=G&8XH>4U1U'!Y*B2?0A5C^O&EDA=G1.<>E5,4%;U@1!]& M28JBHA>87`Y\.<4%15/2"B]]<8&$$+:CJ!:?Z`$BL:+`K MJ.L%XSH7I+@I4=$+1O0!#L[HF:*HZ,75/HG]D;=BZJXM5"FK#]TPF!:7*=7' MO_X;/9FF&)[J_V#ZO\A2CH[I>&O,.VS[U[YWJLMD>_)+B'O;8O[G2"@;]B$,GX:WYE9+ M;8C*(IIYEZ8EG6A8%W!RW8<'N#O!1$,,XF=#!K&8!SKX,V/O>O']L@^!CH%0 M4DGM`JOA04Z$4NU)*?^>G'YJ:N)R_O3^U6Q7A7_&@IP8_=5<9*VB!6%P(5=\ MI_*-#=_(M(=4.ZP8%>8;5'*+Y"6@BH)D`\_\2 MXHD0?Q+,T45C9&9?7[#$9<'9$/#Q,GJL[QSN8G5RE3::@S+_U,Z$LCY*4$0/ M[69"'$<$6B#@C(B4[UD`^02.R*&C?P5.+B+V"\3>'<2&'B_HB9^>>.F)H2<+ M>FH=@(O(_`*I5R!UZ!M+8$2D!M$91+X!*?"+9%Z1S!')+1$7L?4+;+P"&X<. M[8?B@:R\E-PKD;M\ZZD""I7T*7!U]&`==#9N<4<*X< M@56=E]#U`Y*IL;147@U9>+_3G,(Q=#]!6\6#0BHH_ MU:&;R2BVBM&$6=Y,`E*4;'.[JD2+$ML2?C.M1P05NW>FTRVL,;^8'YK>E$<&92%7I3CJ^,2:("`B\JE%HUX'E!R57JZ4;-^=B2QH5D_;/# MSFV^_`M02P,$%`````@`^$4&1WNW>;QH`P``H`\``!@```!X;"]W;W)KO==5TF]6I[\^W8=CM M3Z8NNAM[-HW[AB*(XK(NR66W78]E=NUW;Y[XJ M&W/7!MUS71?MGYVI[&6S@M5;P7WY>.J'@G"[#J]QA[(V35?:)FC-<;/Z#+>Y M2`?)J/A9FDNW>`X&\P_6/@TOWP^;531X,)79]T,5A;N]F-Q4U5"3:_GW7.F_ M-H?`Y?-;[5_'=)W]AZ(SN:U^E8?^Y-Q&J^!@CL5SU=_;RSVZL9K ML'_N>EN_A:R"NGB=[F4SWB_3ES2:P_@`,0>(:P"H#P/D'"!10#@Y&_/Z4O3% M=MW:2]!.@W$NAC&'6^EZ;C\4CATU?G.9=:[T92O4.GP9ZIDENTDBEI+WBIQ1 MZ*LD=.U?30C6A!CCY3(^YN,E&R_'>+6,3U`2DR09)-I(",D(U`)&G2S1K1%,C*-N=)HTDBV&;C%"-`P#O(V9]Q,2' MC)"/F+2A8Z3)&0U(WD?"^DBH#]3INX1I@W0(%2692GDG*>LDI4[0?-JEU(F4 MR`C5Q%KQ/C+61T9]H#9V&3,R&OW/.16E<21X)P-1.0A%!`#2DPMX,`8T&XTY M!M1IJC#*J$C'GID'/,U`4"\Q]B+H#!<:_VR,*I,>L@*/1J!LE)B-LV;9C(P@ MQF88E8H\DQ!X/`+EH\1\!`H_G6`O#$3!XX3G(U!`2@Q(H/33`LCB1U4JBWVC MQ%,2*"85QB10!KHE#)MA1''B\<*3$B@J%4;EK%FNE%KC-3?G5%+ZT,#3$B@N ME:\&GG.0$;@HSU\K>#R)B'K`FZ19L\P5CV#^L>:]$QYS@F).8'WEA3KS M[0<%3SQ!B:3_IS:/%T'QHO%"$B[.4N?BT?PHVL>RZ8('V[MCV7AX.EK;&U=? M=./ZY>2.R]>7RAS[X3%QS^UT@)Q>>GM^.P]?#^7;OU!+`P04````"`#X109' ML'3A3C@"```?"```&````'AL+W=OX8S7I/(I/._]+N"U#)5&*7S4>V*SO2?@](>]R\..X\X%DP`T^:*2]PT,I+8^<\8]/^>TCCOWZ)_4^D*_#UBN"3-[_K(*T$+?.^(3^C2\#+[[7H0[=UI]I!KZ39:',;HM$0388PN6N(1T-L M&`)-IO+ZBC@J)7,)[1&LGT=HF^N2\4Z<_M?VID5%J@<(DB8R3*!^I%BR9DR6S63*# M)7OJW7ND6K!LG"P;FV5CL&RLC#/CQUO>E2PH9,EU52E@<:R!6:;`8Y#[FB7) M)_4RM$E"DR1\ZG@>RC1/,"OE/3KCGXB>ZXYY>\+%K:!J]XD0CD5(L!*95>*V MG@8-/G'9346?ZOM+#SCI;]?Q])^@^`=02P,$%`````@`^$4&1_VT@!G6`P`` MRA$``!@```!X;"]W;W)K]6U?J_7*7IH\*\W7RJDO19%6?S8FM]?'!2Q>&[YEQU/3-;CK ME7N+VV>%*>O,EDYE#H^+)U@F0G1(3WS/S+6>7#M=\<_6_NQN/N\?%UY7@\G- MKNE2I.W7BXE-GG>9VIY_C4G?^NP"I]>OV3_VV;4UNMMW#V MYI!>\N:;O7XRHX:@2[BS>=U_.KM+W=CB-63A%.GOX3LK^^_K\(OVQC`^0(P! MXA9PZX`.VON1VZ9-NEY5]NI4PW2?TVY5 MP3)HYV;7-?93T?_6CEW=MKZL0[%R7[H\([(9$#%%Y#VRI0C<"+?M_U:$X(K8 M"!*.:H@I$?JHAG\F2=Y-F9,=*]O%R&A_P\3X;[_?Q_C0^1&,](*I'RD&$ M4@B**:0GA0RC09G`DQ$:$`J!5A$O*6`E!5220I(&))ATHB1B8LKX`9J]+67` M4TAV0J$0-"\H9`6%5)!&@D+2AR!#&U/(!_S44$9&>%DG%`(1SCQ=BI6DZ+*= MF6/-QFLR),I#0Z)ID:'`0\)`RL>S3"$I/#0#"0,%(N0U1:RFB&H"I"DBG40! MFL&8,BI`3^N6,J`]E"AA(!7-+-S.^+B=W*.:R%;NT7X@0DLNYBBET71N&4H0 M]0E#23WW2,*,1P%5)K$RH/W0G9.A?*$55D:I-I7"RB@5P60]WRMCC>\)!%7F M8V6"]/,!Z!8Z8M/-_(/4.-N6RR;I>N2R*:UG]AW@_1*H8:H9PP3>,8%:)I[3 MSBN+4;8F<8L7^N72:;U.2MALOVSMKE30^HZVGL>D!]2)`W8X;! M+RT,,U&0;F_"P-_(8&NSM?U$)3\U)XQU$4`?1V$$$W?-]SX_P4\A@ M,A(2KV@^&]X.$RZ;#B9>.ZAS)W]4"U,=^R."VMG92]ET#G<)\1`(` M`%8'```8````>&PO=V]R:W-H965T&ULC57+CML@%/T5R_L. M?N.)'$N31]4N*HUFT:Z)0V)KP+A`XNG?%[#C.!A-NS%P.><^SK4N1<_XNZ@Q MEMX'):U8^[64W0H`4=68(O'$.MRJFQ/C%$EUY&<@.H[1T9`H`5$09("BIO7+ MPMA>>5FPBR1-BU^Y)RZ4(OYG@PGKUW[HWPQOS;F6V@#*`DR\8T-Q*QK6>AR? MUOY+N-I#C3"`GPWNQ6SOZ=P/C+WKP_?CV@]T"IC@2FH/2"U7O,6$:$,O(K^8H:Y5LX'M'?$(7(M]8_PV/):3:8<6(,%^O MN@C)Z(WB>Q1]#&O3FK4?;O)@I+D)T4B()L(4QTV(1T)\)R2?$I*1D/QOA'0D MI%8$,-1NE-LAB@8)Y'[KI2 M9UWI4A?HYF=.?K;4);=T&2#I/,ODV5)EB8D#2Q*7&V@)LL1DJ;L:Z*P&+JNQ M,MU`1Y?SQ/H7M@Y4G"=VEUVHY]#RM7>@8![:70*SJ4$Q/YMY+;R*75JI&SRS M3D_"2Z2GCF7?A*MMZ+#OU!,R3/R[^[+HT!G_0/S'@V3=[16;GM+R+U!+`P04````"`#X109'8GN3 MP;X#```#$0``&````'AL+W=OX)VQ8?(.)Z)W>FTA\YDRZTT,8MMNCKO+VWIQTW?^R-TV5=_UM'8 M#0WA:AE>XW9%I>NV,'70Z/WCX@D>-A('B57\+O2EG5T'@_E78]Z&FY^[QX48 M/.A2;[NAB[S_>M<;799#3WWFOU.G7SF'P/GU9^_?;;F]_=>\U1M3_BEVW;%W M*Q;!3N_S<]F]F,L//=40#QUN3=G:SV![;CM3?88L@BK_&+^+VGY?QE^4F,+X M`)P"\!IPS<,'R"E`?@5$MM+1F:WK6][EJV5C+D$S3L8I'^8<'F0_96(;O0S^39#U*<":!JR+L.[]F0"[#&DDXWB;84$42\1DD6X.T M\7)>@\=AQ,9'-CZ:Q2MPQF"4I%926\F=5#.78R&,*E4*>2\QZR6FM7CB$S8^ M(;5DTJEEE,0SEVGJ3DE"*H$(8MY(RAI)J1%GN-8I,8**3Z'8%(JFB)T4BJ1P MAV.C2*E*\BXRUD5&9RSAXP>><$M0T#I2=PT*4DB$[N/'B%#ZO'AP`,0+9JX7 M(&GNXMG,36885>19UL"2XPF0F)$$3DC3I,+UPH@2#R*`9PQ(.DG*]2+IR@)P MO5!1-!OB6R\\KX`"2Y(')J(E2Q6[9A@5*-\CPQ,+8CHRY)&):1Y4D+EV&%DB M0'C\\`2$A"Q($+XN>'8!A1<(]Y4`%%]WL]4V5<2(O./+4PXHYD"@:X92C#%# M:>@WP\,.*.U`>'")/.Z0X@Z$BS*D*,LP]N`#>98A91D(=P5,HOG`^9")/*60 M4@J$,_3K270S/[Y5CSR!D!((A+OLD=+ES@7X9A*E-X.;>98(\@Q"RB`0+A"1 MP8MRGTI&)'TCPQ,(*8%`N`A"#D$9>54P,HG2]X3S!$*Z"0-P7UQ(MV$)T*FB M*J5\&S'D:88,S=S7TAHIJ"3$Q`Y5`8K(LVM#'FBH*$/`L\E%'D.8,26Y^]Q) M=%-2ZA:4T8VNY^C!TTPR-`-WHSN);O:8GBP\RB0P0^9Y"B2/*Q7T_H4>=[ZXWI=YWPV7:7S?C&7V\ZJ_]02P,$%`````@`^$4&1[W(!5V@`0``L0,``!@```!X;"]W;W)KPUW%:JR_`#'/.G!F&8D3[ZCH`3]ZT,NY(.^_[`V.NZD`+=X,] MF'#3H-7"!].VS/461)U`6C&>97=,"VEH623?LRT+'+R2!IXM<8/6POX^@<+Q M2'-Z=;S(MO/1P]15"B19OTRY-VL?I9G%3HB3SL_"B+"R.Q$ZM[45\P?S`0R.JZ$QUI[L@U`7OIS_6^)6S*>_DK!5 M3S78-HV.(Q4.)@WJRKM,YR-/;_(>7A:]:.&[L*TTCIS1AY=-_6\0/00IV!_.=AJIR?#87S_(\DO+/U!+`P04````"`#X109'>:\U)J$! M``"Q`P``&````'AL+W=O*D4YM&?6'MLHP+B`U^G?%[#7<1+W`LPP[\V;82A&M,^N M`_#D12OC3K3SOC\RYJH.M'!WV(,)-PU:+7PP;(U+`+PFC6YU)U'Y!?([&C_I$LR@!%%0^,HBP7>$!E(I$(?&?F?,U902N MSS?V;ZG:H/XB'#R@^BUKWP6Q&24U-&)0_@G'[S"7<(B$%2J75E(-SJ.^02C1 MXF7:I4G[.-T<\AFV#>`S@"^`+UD2/B5*,K\*+\K"XDCLU-I>Q!?<'7EH1!6= MJ>YT%X2ZX+V6.YX5[!J)YICS%,/7,4L$"^Q+"KZ5XLP_P/DV?+^I<)_@^S<* M_Y,_WR3($T'^AH"_*W$K9O\N"5OU5(-MT^@X4N%@TJ"NO,MTWO/T)J_A9=&+ M%GX*VTKCR`5]>-G4_P;10Y"2W1THZ<+_60P%C8_'S^%LIY&:#(_][8,LO[3\ M!U!+`P04````"`#X109'Y!;T\*`!``"Q`P``&````'AL+W=O*D4YM&?6'MLHP+B` MU^G?%[#7<5JK%V"&>6_>#$,QHGUQ'8`GKUH9=Z*=]_V1,5=UH(6[PQY,N&G0 M:N&#:5OF>@NB3B"M&,^R>Z:%-+0LDN_)E@4.7DD#3Y:X06MA?Y]!X7BB.WIS M/,NV\]'!RH(MN%IJ,$ZB(1::$WW8'<]YC$@!/R2,;G4F4?L%\24:W^H3S:($ M4%#YR"#"=H5'4"H2A<2_9LZWE!&X/M_8OZ1J@_J+L?1?$9I34T(A! M^6<%$6%D=BI];V(K[@[LA#(ZKH3'6GNR#4!>^UW/&\8-=(-,>;"O<)OG^G\+!-D&\2Y(D@_V^)6S'W?R5AJYYJL&T: M'4M'"=V%;:1RYH`\OF_K?('H(4K*[`R5=^#^+ MH:#Q\?@AG.TT4I/AL;]]D.67EG\`4$L#!!0````(`/A%!DH`$``+$# M```9````>&PO=V]R:W-H965T6_>#$,^H'US+8`G M'UH9=Z"M]]V>,5>VH(6[P@Y,N*G1:N&#:1OF.@NB2B"M&,^R;TP+:6B1)]^S M+7+LO9(&GBUQO=;"_CZ"PN%`-_3B>)%-ZZ.#%3F;<9748)Q$0RS4!WJWV1]W M,2(%O$H8W.),HO83XELTGJH#S:($4%#ZR"#"=H9[4"H2A<3O$^=7R@AX M2Y/V8;S9\@FV#N`3@,^`VRP)'Q,EF0_"BR*W.!`[MK83\04W>QX:449GJCO= M!:$N>,_%AM_D[!R)IICC&,.7,7,$"^QS"KZ6XLC_@?-U^'95X3;!MW\HO%TG MV*T2[!+![K\EKL5\_RL)6_14@VW2Z#A28F_2H"Z\\W3>I4=D7^%%WHD&?@K; M2./("7UXV=3_&M%#D))=75/2AO\S&PIJ'X\WX6S'D1H-C]WE@\R_M/@$4$L# M!!0````(`/A%!D>*)8>SG@$``+$#```9````>&PO=V]R:W-H965TI-7*:RF;JFH/E:(A@9<$67"TU&"?1$`O-D=[O#J=]C$@!/R6,;G4F4?L9\3D:W^LCS:($4%#Y MR"#"=H$'4"H2A<0O,^=;R@A%$6%D=BI];V(K[@[L!#(ZKH3'6GNR#4!>^EW.59P2Z1:(XY33%\';-$L,"^ MI.!;*4[\+SC?AN>;"O,$S]\I_$?^_2;!/A'L_UOB5LQ'E6S54PVV3:/C2(6# M28.Z\B[3><_3F[R%ET4O6O@A;"N-(V?TX653_QM$#T%*=G-+21?^SV(H:'P\ M?@IG.XW49'CLKQ]D^:7E'U!+`P04````"`#X109'>]/^:I\!``"Q`P``&0`` M`'AL+W=O;`_@R)N2VIYH M[]QP9,S6/2AN[W``[6]:-(H[;YJ.V<$`;R)(298ER2>FN-"T*J/OR50ECDX* M#4^&V%$I;GZ?0>)THBF].9Y%U[O@8%7)5EPC%&@K4!,#[8G>I\=S$2)BP$\! MD]V<2=!^07P)QO?F1),@`234+C!POUWA`:0,1#[QZ\+YGC(`M^<;^V.LUJN_ M<`L/*'^)QO5>;$))`RT?I7O&Z1LL)1P"88W2QI74HW6H;A!*%'^;=Z'C/LTW M1;K`]@'9`LA6P)-5:7`B9F[MP,,+IL?,-Z(.SEAWO/-"K?=> MJS3/2W8-1$O,>8[)MC%K!//L:XIL+\4Y^P>>[GBZ%A2XZCCH&Z\ZW3>9_%-WL.KUJT`H`$``+$#```9````>&PO=V]R:W-H965TY& M^P+8^!P?&U.,:#YL!^#(EY+:'FCG7+]GS%8=*&ZOL`?M;QHTBCMOFI;9W@"O M(TA)EB7)#5-<:%H6T?=BR@(')X6&%T/LH!0WOXX@<3S0E%X4[Z)VG1>;4%)#PP?I7G%\AKF$ZT!8 MH;1Q)=5@':H+A!+%OZ9=Z+B/TTV>SK!M0#8#L@5PET3A4Z(H\Y$[7A8&1V*F MUO8\O&"ZSWPCJN",=<<[+]1Z[[E,\YN"G0/1''.<8K)US!+!//N2(MM*<.M/YMI MI";#87_Y(,LO+7\#4$L#!!0````(`/A%!D>LGZ1#H`$``+$#```9````>&PO M=V]R:W-H965TEEY+6535>U# MI2@/[3-KCVT48%S`Z_3O"]CK6*G5%V"&.6?.#$,YH7UQ/8`GKUH9=Z*]]\.1 M,5?WH(6[PP%,N&G1:N&#:3OF!@NB22"M&,^R#TP+:6A5)M^3K4H)9=[Z.#525;<8W48)Q$0RRT)_IP.)Z+&)$"?DJ8W.9, MHO8+XDLTOC[ZQ?TW5!O47X>`1 MU2_9^#Z(S2AIH!6C\L\X?8.EA/M(6*-R:27UZ#SJ&X02+5[G79JT3_--GBVP M?0!?`'P%?$H`-B=*,K\(+ZK2XD3LW-I!Q!<\''EH1!V=J>YT%X2ZX+U6A_QS MR:Z1:(DYSS%\&[-&L,"^IN![*<[\'SC?A^>["O,$S[?9BVR?H-@E*!)!\=\2 M=V**]T6R34\UV"Z-CB,UCB8-ZL:[3N<#3V_R%EZ5@^C@A["=-(Y73?UO M$3T$*=G=/25]^#^KH:#U\?@QG.T\4K/A<;A]D/675G\!4$L#!!0````(`/A% M!D>6O#-WGP$``+$#```9````>&PO=V]R:W-H965TA@9<$67"TU M&"?1$`O-D=[O#J<\1J2`[Q)&MSJ3J/V,^!:-Y_I(LR@!%%0^,HBP7>`!E(I$ M(?'/F?,C902NSU?VQU1M4'\6#AY0_9"U[X+8C)(:&C$H_XKC$\PEW$;""I5+ M*ZD&YU%?(91H\3[MTJ1]G&[XEQFV#>`S@"^`SUD2/B5*,K\*+\K"XDCLU-I> MQ!?<'7AH1!6=J>YT%X2ZX+V4NYP7[!*)YIC3%,/7,4L$"^Q+"KZ5XL3_@?-M M^'Y3X3[!]W\HW&\3Y)L$>2+(_UOB5DS^5Q*VZJD&VZ;1<:3"P:1!77F7Z;SG MZ4T^PLNB%RU\$[:5QI$S^O"RJ?\-HH<@);NYI:0+_V&UL=5;;CILP%/P5Q`U3<*RSO@%L)DS,?4D3KPW?_9"=DR;H3PDZB0YV[F@KDUHFN9)QYH^KBLW]RKK2IQUV_3\ M54;JW'5,_EOS5ER7,8GO$V_-X:CM1%)7R1BW:SK>JT;TD>3[9;PBSVN:68A# M_&[X54V^(YO\1HAW._BY6\:IS8&W?*LM!3.O"W_A;6N9C/+?&^FGI@VT;;L]*BNX?$ M4<<^AG?3N_=U^)/36Q@.H+<`.@:4J4M\$')I?F.:U944UT@.>WMB]@C),S4; ML;63;MWNGTE4F=E+36;S*KE8HAMF/6#H%#,B$L,^2E`DL:8/X12'9S##S(5G M4W4:T)]!@IDCF'U98NXM$6$*+#*'(G-`4'HB"+/`(CD4R1\)YJDG@C"![2J@ M2`$(J">",!D6*:%("0AFG@C"S+'(`HHL`(%_\`@3.'CK;N2@%%#X1P]!@;,G M`:>21XK^#@`5:4`'UP$"3%X07P>!`N6=X%)` M@,^+S-=!H%E`!U<#`JR>/>P;`!6!^T9Q/:#`ZH5?=B`H4'H.Q?6``JN7?MV!H%"7@.L!!58O_;H#07[=22;-3\?EP?5X*MJ*<^]:RLGL MV$>N7+>5?,+KZL0._!>3AZ97T49HTX*Y1FDOA.8FE_3)>/EH.MUQT/*]MI^% M^99#[S<,M#C=6]FQGZ[_`U!+`P04````"`#X109'(&R6MJ(!``"Q`P``&0`` M`'AL+W=OR>% MAB=#;*\4-Y]'D#@N^Y MV-QE.3T'HBGF.,:P9L_@FU_`B[W@#?[AIA+;D MA,Z_;.Q_C>C`2TEO=@EI_?^9#0FU"\&PO=V]R:W-H965T_-F&/(![:MK`3QYU\JX(VV][PZ,N;(%+=P-=F#"38U6"Q],VS#7 M61!5`FG%>);=,2VDH46>?,^VR+'W2AIXML3U6@O[]P0*AR/=T,GQ(IO61P6)_2M4&]6?AX!'5'UGY-HC-**F@%KWR+SC\@&L) MMY&P1.722LK>>=03A!(MWL==FK0/X\W=!%L'\"N`SX!]EH2/B9+,[\*+(KJ.]T%H2YX+\5F?Y^S2R2ZQIS&&+Z,F2-88)]3\+44 M)_X?G*_#MZL*MPF^76;G^W6"W2K!+A'L/I6X_U+B6LRW+TG8HJ<:;)-&QY$2 M>Y,&=>&=I_.!IS?Y""_R3C3P2]A&&D?.Z,/+IO[7B!Z"E.SFEI(V_)_94%#[ M>+P/9SN.U&AX[*8/,O_2XA]02P,$%`````@`^$4&1UF:J,;X`0``408``!D` M``!X;"]W;W)K&ULC57;CILP$/T5Q`>LP;E'!"G9 MJFH?*JWVH7UV8+AH;4QM$[9_7]LD+,M.I+S$]OA<9H"9)+U4;[H",,&[X(T^ MA)4Q[9X0G54@F'Z2+33VII!*,&./JB2Z5WP&M=5L8%2)J0D9?7`AI=RR904!S"8[P_Q=1! M/.)W#;V>[`.7_%G*-W?XF1_"R.4`'#+C))A=+O`,G#LEZ_SW*OKAZ8C3_4W] MNR_7IG]F&IXE_U/GIK+91F&00\$Z;EYE_P.N-:R<8":Y]K]!UFDCQ8T2!H*] M#VO=^+4?;K;1E883Z)5`9P0R&/DTOS'#TD3)/E##LVV9>X7QGMH'D;F@K]O? MV42UC5[2>!/KB4X9W_)>H MP-(++#\)T%F)&&:!FZQ0DQ4BL)R98)@5;K)&3=:(P'IF@F$VN,D&-=D@`EM< M8(L*;!]_83M48(=DL)N5^15C!PUNXKH2^_(C1.).GO&=YHD?+S5&F^,8TP>* M14`TFC<1F;2\`%7ZR::#3':-'Z23Z#@]CWYXD@]XFK2LA%],E76C@[,T=O#X M\5!(:<#F$CW9K[BR\WT\<"B,VV[L7@T3;S@8V=X&^/@ODOX'4$L#!!0````( M`/A%!D=J]<9OH@$``+$#```9````>&PO=V]R:W-H965T]#^ID&CN/.F::GM#?`Z M@I2D+$U_4,6%3LHB^IY,6>#@I-#P9(@=E.+F[PDDCL=DE\R.9]%V+CAH6=`% M5PL%V@K4Q$!S3.YWAU,>(F+`BX#1KLXD:#\CO@7C=WU,TB`!)%0N,'"_7>`! MI`Q$/O'[E?,K90"NSS/[SUBM5W_F%AY0OHK:=5YLFI`:&CY(]XSC+[B6L`^$ M%4H;5U(-UJ&:(0E1_&/:A8[[.-WD,VP;P*X`M@#NTBA\2A1E/G+'R\+@2,S4 MVIZ'%]P=F&]$%9RQ[GCGA5KOO90LS0IZ"437F-,4PU8QNR6">O8E!=M*<6+_ MP=DV/-M4F$5XMLZ>W6X3Y)L$>23(_RDQ_U;B5LS^6Q*ZZJD"T\;1L:3"0<=! M77F7Z;QG\4V^PLNBYRW\X:85VI(S.O^RL?\-H@,O);W9)Z3S_V&UL;5/;;N0@#/T5E`\H"9->-,I$ZK2J MVH=*51]VGYG$25`!IT`FW;]?()DTV\T+8.-S?&Q,,:+YL!V`(U]*:GM(.N?Z M/:6VZD!Q>X4]:'_3H%'<>=.TU/8&>!U!2E*6IC=4<:&3LHB^-U,6.#@I-+P9 M8@>EN/ES!(GC(5O4;O.BTT34D/#!^G><7R&N83K0%BAM'$EU6`=J@LD(8I_3;O0<1^GFSR; M8=L`-@/8`KA+H_`I493YR!TO"X,C,5-K>QY>,-LSWX@J.&/=\%GTO(57;EJA+3FA M\R\;^]\@.O!2TJOKA'3^_RR&A,:%XZT_FVFD)L-A?_D@RR\M_P)02P,$%``` M``@`^$4&1U&ULC55=DYL@%/TKCN]=!14U8YS9?$W[T)F=?6B?B2'1614+9-W^^P(:XR+3 M;!XB7,\Y]]P+0M93]L9+0H3ST=0M7[NE$-W*\WA1D@;S)]J15KXY4]9@(:?L MXO&.$7S2I*;VH.\CK\%5Z^:9CKVP/*-7456$.OS8-9G\WI*;]V@7N+?!: M74JA`EZ>>1/O5#6DY15M'4;.:_<9K`ZQ0FC`KXKT?#9VE/?CF_I!5RO='S$G6UK_KDZBE&9]USF1 M,[[6XI7VW\E80J0$"UIS_>\45RYH,]@X;MD>'U2X$ M*R07LU!!O7;ZG6PVE]'W'/IIYKTKH1&S&3!PAD'!9\AN"0$3PI,&)A?0YF(# M%W3X.<%VB4"AX>&AR/ZQR,$B$MDK":S]##0_F#<")':!T"H0:H%P)I``8ST& M2*PAK89\`W%J=LR""I+8;)H5979E;T'%20+M=476NJ)%76%LU!59ZD)IG)J; M;!:=[HMGJ$X8([X!JRVPQ'=@M1^N M@[M\GG7X0GYB=JE:[ARID.>:/GW.E`HB[?M/TGDI;\!I4I.S4,-8CMEP*0P3 M0;O;%3?=L_D_4$L#!!0````(`/A%!D<\L&9UQ0$``-D$```9````>&PO=V]R M:W-H965T(#%,5Q9C)Q3#K=;+8739I> MM->,'I44Q`462E!CEZK!NE=`*P\2'),XWF)!61<5N8\]JR*7@^&L@V>%]"`$ M57].P.5XC)+H&GAA36M<`!0.<)2(*B9"@']/(.C^.TTZ6SK`P M@,P`L@`F'3P)>9L_J*%%KN2(U'2T/75_,#D0>Q"E"_JZ_9XUJFWT4I`DR?'% M$OOG'X1<$FR#!QA.D:_O[+$R0 M!0FR@(/TTQF%1ZV:FH.LV<'G$`-QJSM3&:__?H5!JO_'1H."30_R9*ZI59C3S^R M_&=Q2))R\#L]G8NGX:$L+Y/QN-@=DC0N1MDE.5??O&9Y&I?5Q_QM7%SR)-XW M0NEIS#U/C]/X>![.ILW8MWPVS=[+T_&L!6_??VI?->Y6YK_$11)E MIW^.^_)06>L-!_OD-7X_E=^SCTW2^:!JA;OL5#1_![OWHLS23Y'A((U_M_^/ MY^;_1_M-X'5B6(!W`OPJ(+X6$)V`9S:((2'?(D9>F5[P!)QZ MT2@0/04**Y!0@6P4R)X"3=9.R_C7B:T8Y54O,@%NV+K%ZNIUY9C7OD@$.Y(9 M)(EBQ_$;3E&-O5`H&`H%0D'3J&74K47:-T/AAJV4$3&"]:S6T&H-K"8YN="& M.7XS-<0<;4[@%T'TH3F^84Y`K)G[AC5_R="P)O(-:P18=$B9&>FEJ4PKJV(4R/2*%@?H!PBT, M`ST,+6#S#NJM,.:%>N09\XK)8.39JAUN99C9RW`IJ%EF`T)/"Q%@Z,ED@?08 M:Q$P-I=P#\-`$R.-#`MPYV46\/M@WRC<@3#0@DA%C0K-217>R*>M+N38Z.8\ MW#^2XM:!@]9!TF,1!UMJ95)(5N["D5L[Y,[F"9)WPOJ"!<]6Y<2:W+F0_?+@[X:`[D9;]@^,6@C]PR.=X9^5@ M%Y/&U`!(&;^.(,BRS7.\'W*T8]"&C9M':$Y-,1%+;\;QOL/!OJ-LV8'W".X_ M,#>X)G-4DVE[@"!%8A:Y0`L7:'D'ZKN%JSH'55W9?MO"55AX[L$5N'H)5+UH MHA"D+0V" MP`5#@(*A+35'X%07^H&0X%07J!TTO`60MI04@>N!`+FG+;DG<.Z)T-U;B7-/ MH@Z(+@`$:=).+B%D60`29[$$::5M_N"TDOR!D."TDN`H;RP`!&E+V9.6G^11 MQFB+"IPQ4CW@+"!D."TDNB@ M8H0$0)J>4B!D:2P53E`%TLJWW>_`::68>T@43BN%VEM:)A!DRPF%-;,D;AC%$/-*8*9XQR:$PC!/ET MMQK?W,E.D_RM>0ZB&.RR]W-9R]Z,7I^U>.;UG7`R/F>3B('Q!9LLT?B:3;;M M'?4_EYU-+_%;\G>`E*\LL;>Z>OV99F50^>:-J!@])O+]^."6O9?W6 MK][G[7,6[8@-9C:3MC^?6U#6"ZSJ[Q@>WSF^,R,F$E;(=]4P9CV MWBM>JZU?:-T\(Z3R@E54/8F&U>;F+&1%M3G*"U*-9/3DG"J.`HQ7J*)E[6>I ML[W(+!57SL^*/0KS9P\_3UL=6`^,LUY:"FN7&#HQSRV1>_MN3 M?KQI'#*?;W\ MJK2H[BZ^5]'W;BUKM[;=393T;K!#T#L$@T.(OW0(>X=PYH`Z92ZN;U33+)6B M]617C(;:FI/GT&0NMT:7*'=G(E/&>LN")$K1S1+UF'V'"488,D4/)2$""Y(%D)(LXR0;C63*6H!"/0!,I M:U#*&I"RGDGI,/'HE7BFXRO$1,0&%+$!1&Q@`MM8H'\1/UX3\LGO3!ZH2@^: ME(4LR@*@HL_*0L"_>D>"!PK3@\9Y7[27)22:"4&CAE7�'FYN-9N[HRL MP[#9N5F#/N!9VM`+^T7EI:R5=Q3:M%W7',]":&:4X">CH3#C<#AP=M9VFYB] M[`9$=]"BN<^[8>AF_P%02P,$%`````@`^$4&1\+I#\WD`0``(P4``!D```!X M;"]W;W)K&ULA53;CILP$/T5Q`?$Q`0VC0C2)E75 M/E1:[4/[[,!PT=J8VB9L_[Z^$$)8MWW!]OB<.6>,/=G(Q9ML`%3PSF@GCV&C M5']`2!8-,"(WO(=.[U1<,*+T4M1(]@)(:4F,(AQ%*6*D[<(\L[$7D6=\4+3M MX$4$VKL]$D3P3?`R$^Q<],;]\>XCUR14F M:`_*[NG*I(Y><[R/,G0UB2;,R6'P`V;[B#E_Q-P12#N8;6"?C1/V2."5A`\3 M^T5B;ZVQ31`O/>[W_@0[;X*=3;![<+!;'9;#;)U*YU1BO(F>5M4X7+*$19]2 M[+>3>.TD'CO)2B;Y(/.W,TN]&JE'(UUII/\MV0FAQ:5D(&K[6&50\*&SK6$1 MG?O!,[:7^@[/LY[4\)V(NNUD<.%*/PU[@2O.%6@[T497V^B.-2\H5,I,G_1< MN$?L%HKWMY8T]\7\#U!+`P04````"`#X109'5OJ-&2P"``#)!@``&0```'AL M+W=O>)\N*,"Q7O"6-WCESP;#22W'Q9"L(/ED2HUZ`4.(Q7#=ND=O8JRAR?E6T M;LBK<.25,2S^[@CEW=;UW7O@K;Y4R@2\(O=&WJEFI)$U;QQ!SEOWQ=\;F1/*#5*.O.?0?21TQ"G\[OZ M-WM<;?^()=ES^KL^J4J[1:YS(F=\I>J-=]_)<(;8"):<2OOOE%>I.+M37(?A MCWZL&SMV_4X<##28$`R$8"2,>6!".!#"KQ*B@1`]")$M37\46X@#5KC(!>\< MT3^]%IN7Q-]$NM2E"=K*VCU="JFCMR)(U[EW,T(#9M=C@AG&GV/VSY@'PM,. M1AL!9&,7`"G210H`,T<<`$0,NPC!8H26'\U<9+!`!`I$5B"<"F0(%HA!@?C) M0;*L=`])+:2Q$+1":($Z_`\U\Y*`7I+G:F2+-+L>XX>3/'X8K-#B%=KWN'@* M0UD2P';6H)TU8.<3@1042+_^<#)0(`,&PO=V]R:W-H965TMFIH*RK6>ISN9OX<39]1K"$&\:NB9S%:>SKX-6-O>O-C M._-#'0.MZ49J":(>[W1)ZUHK*<]_>M&K3TTF.G&KYRL[?:9]#H@4WK!;FU]N)[#?GHGE5KGN?N31KV-)B` M>P(>"(,?F!#UA.A*B#\EQ#TA?M1#TA,2RT/0Y6XJMR*2E`5G9X]W[3X2_56A M::)ZL]%&TPKS3M5.*.M[B?.D"-ZU4(]9=!@\PJ31+63E0M"`"%0`0Q08BF*! M'3J^=;!T$6ELQ?"ER/.G(C=A1F"Q(L./QEGF&!:(08'8",0WU4ZM:G>8S&#: MSDEFI;IT,5%LM\3%9)E=$,!7C!(XHP3,*`$RRJR,.DPR]A)&$RO<+T`WH:1@ M*"D0RAV!#!3('F_O!!28/-#>B9-GGEO=!2!6XU8N),)V-,XUM3!+`).E]AAS,SAD_H@#NHN-FQJNI-ZF:DU[VXGW4:RX^6R-=SXRG]0 M2P,$%`````@`^$4&1V?MOF$!`@``$P8``!D```!X;"]W;W)K&UL=95=DYL@%(;_BN-]%?$K9HPSS78Z[45G=O:BO28)1F=!+)"X M_?<%3%RC)S<"A_>\SP$%RT'(=]50JKT/SCJU\QNM^VT8JF-#.5&!Z&EG9FHA M.=%F*,^AZB4E)Y?$68@1RD).VLZO2A=[E54I+IJU'7V5GKIP3N2_/65BV/F1 M?P^\M>=&VT!8E>&4=VHY[50K.D_2>N=_C;;["%F)4_QNZ:!F?<\6?Q#BW0Y^ MGG8^LC501H_:6A#37.D+9F M6N1[)UJ3"]-O8OA!;VM(K>%1,.6>WO&BM.#W%-_CY&-LV\ZUPSBS0;BUBE%4AE=K M=-/L1PU^T.!)$QK_"8)!"'8&\8-!#!O$H$'L#)('@V11Y:A)G:9SFBA'18(0 M#$I`4`*`T@4H68'2`J%GG!3DI``G6W#2%>=+C)]A,A"3`9A\@>V4]Y!:'-UN!->"Z&I<42! M>=F-N:&G`:.UMMW<].5X9XT#+?K[%3S]!ZK_4$L#!!0````(`/A%!D>^XD8S M[@$``(,&```9````>&PO=V]R:W-H965T^W`$%!MS-I.Z+[]VH:D:3J1FU\"K$"0%84DR M)Y*W75SD8>Y5%[DZ6-%V\*HCZWM+42X+B=PN#N>A'/OF=4N]^\+/:Q(G/`024UB.X:X[P!$)X MDG/^.T$_/7W@9?]$?P[+=>GON($G)?ZTE6UH<;/'(J4L)T*`YZQZ%A M(G;+!Z\/RNXX-TS$;A0!QA0T76MD(O[I>=[^,7UONU,M%/6757A M0JF5LN"`R8.KG<;]$&PO=V]R:W-H965TU#6$R<&&! M7^>>=5&^ZY-P$'[5H]"XLC6FW4:2/):^97LF6-W;E+%7-C!VJ2Z1; MQ=G)!]4B(@BMHYI535CD?NY%%;F\&E$U_$4%^EK73/W;!C_\[^PV_7VC\PS9^E^%N=3&G=HC`X\3.[ M"O,JNY]\V$/B"(]2:/\/CE=M9'T/"8.:??1MU?BVZUL\NCFB`;/O,>01 M@\B(B2S_*$)`$>()Z!<""A-0D(!Z@O@+03QQV6,2CVEZ#*4)2A>$8E`HG@N1 M%"9(0(($(,@F3I.9TV\9LA^LLP9UUH#.!B9(08(42&DZ,9K.4TJ2Y91FH%`& M"$TSTF,V#T+Q*DY@E0VHL@%4%O+AJA2J!#2GP&A:"FCF%*T6C.*%BL-S';IP M]ABN)TP`JWAJE0!)39:\PG6'@<*C,R$(M'`_8+CL,%!WE$YU(%`\T8D>+KZ6 M7?AOIBY5HX.#-/8.]3?=64K#+:$]N#`H[5,U#@0_&]=-;5_UEW<_,+*]OT7C M@UC\!U!+`P04````"`#X109'P^U]WVT#``!-$@``&0```'AL+W=ONM;4.DS>%-/^D\;R,UF7\/0?_E M;!N.SZ_1OW3#;;K_DM;ZR>2_LIT]-KT-?6^G]^DYMS_,Y:L>QM#U<&ORNOOU MMN?:FN+:Q/>*]+T_9F5WO/1/HFAHAAOPH0&_-6!=@Z!/U'7SV7+VRE@4AL1($I@F M`2/ADS1(0[BB)1A1$H(0D@A!@,;`.)I"+R8-H8P&UFCT&4C%_> M(J*F%=/&$&Y3DPRBL4N:-86T"<-<,N5@%"BBWA'&ER$V8R($AI/%=S@%P\<0 M?3.G`)$D/G8,T\<06C.G)#.G\`7A2([YXX"_F5$&T=@H2]HG'&/*F8-/H"@A M\A!+(L!445W%F'+A[A..`>0(P*E/D$@1:P'']'$$UM0G@VCL$[%@Q!>%8_PX M6CYG1HGFI8),$JI2X!A3CA;1F5.`2%&U$V:9`TQ)IV!,>7)'`88)%(C`J5.0 M2!&S*C!_`J$U=TG$Z-@D2*J#`$AED@ M3HGOK,"35+ M&T42_QU=JED)JEGUGW)68E"E2SF+1#.K!*.=@E-ZT-_3ZI"5M?=BK#5%MS6P M-\;J)F"X:`(>=;J[7>1Z;]O3N#FO^MV._L*:TW7SYK:#M/D+4$L#!!0````( M`/A%!D=B8(IW"P,``-P,```9````>&PO=V]R:W-H965T MA(3NKSL_M"&^B/*S.G(NG>\\*ZJ%>Y3R-/>\:GOD.:LFXL0+]60ORIQ)U2P/ M7G4J.=O5I#SSL.\3+V=IX29QW?=6)K$XRRPM^%OI5.<\9^6_)<_$9>$B]]KQ MGAZ.4G=X2>QUO%V:\Z)*1>&4?+]P7]!\@WT-J1&_4WZI>O>.-O\AQ*=N_-PM M7%][X!G?2EV"JKC*_@>K^$ID?]*=/"JW MONOL^)Z=,_DN+C]X.X9(%]R*K*I_G>VYDB*_4EPG9]_--2WJZZ5Y0DE+@PFX M)>".T.G`A*`E!#=">)<0MH2P(^#["E%+B)Y5("V!&`2OF:QZJM=,LB0NQ<4I MF_UQ8GH;HCE1B[G5G?7:U<_49%>J]RL)HEGL?>E"+6;98'`/0X(A9&U#4(?P ME('.!89<++%%QT.!E8T@H>'A89'7QT4V0)$('DD`SF=0\X/^?!(?+A""!<*Z M0#@H@(P%:3!1C2D:DR3R?=^8D(>P@9T(M!,!=HQI73>864\GG*"162.@"@%4 MS"T&84)8A((B%"@0&2+4&HH_H;#(%!29`B+$$&DPM">"IE$TMBXS4&<&Z%!# M!\),81&=OE`Z^$`)*QY\>SPTM+;C"L`%86!O6P!'*;9PKY!NB,8W.!I)0&2/ MD8Z5`./K!>'GWWH$YP8*GGCO6]##%_\Q;F@)3B($1!&U+`$A@V<$VYZ>!&X` M(*+^+!QU#P<7`I*+8M-]!&Q)8#X?P8:&X(Q#0(!1ZW^46(/7ZS8J!2<=`J*. MFG^7+:@O-;NC!,<=`O*.FJ&*[,`C]P8%)QX"XHR:T=J"^@&.)IC`0A@./0R$ M'C6SM04-MC."!N7U3F(Y+P_UH;ERMN)<2!T9O=[N8/Z"]4G.Z%^B^0H!_6LT M?VV.W;?R27QB!_Z+E8>TJ)P/(=7YL3[E[8607/GW)\KY47UJ=(V,[Z6^I>J^ M;`[?34.*T_5;HON@2?X#4$L#!!0````(`/A%!D?XRZ>)-`(``+H'```9```` M>&PO=V]R:W-H965T2A._$GQ^2M92]\P)CX7Q6I.9+MQ"B M60#`]P6N$)_1!M?RSI&R"@DY92?`&X;109,J`@+/2T"%RMK-,[WVRO*,G@4I M:_S*''ZN*L3^KC"A[=+UW>O"6WDJA%H`>08&WJ&L<,U+6CL,'Y?ND[_8I@JA M`;]+W/*;L:.R[RA]5Y.?AZ7KJ0B8X+U0"DA>+GB-"5%"TOBCU_RR5,3;\55] MHY]6IM\ACM>4_"D/HI!A/=XIX?K?V9^YH-65XCH5 M^NRN9:VO;7<'^CW-3@AZ0C`04N\N(>P)X:.$J"=$`\&/[A+BGA`_2DAZ0O)H M)-@3H.$`NNKJO7E&`N49HZW#NGYJD&I;?P'E[N_5HMYL?4_N#I>KESR$:08N M2JC'K#I,,,+,QYBU!9-Z8\SS%!.,$2]31!*-(9MO1;9W18"LQE"2P%J20//# MT:/X=H'0*A!J@6@D8(1<=1BH,;7&Q)[Z&67]%C:*$UGC1)8XH1''AC$JO[9A M8F-W;)C$'C:VAHTM`M`(TF'F-T7Q9EYJ=TFL+HG%Q>CZ=6)SB>TNT.H"+2[& M>[."%I?@/RZIU26=NLS--R^=M)&!>)DBHF#2CILI*I@V[7:*@M&T9\'-)ZI! M)_P+L5-9R(-TF!!\%&H(Y9AU9TLW$;2YGI3# M<9W_`U!+`P04````"`#X109'S/7PQ.T"``"!#```&0```'AL+W=OGGE7NVU9TX:7K'%:NENXSVB^1HE"-/&K MI&<^N'>4\V^,O:N'']N%ZRL?:$4W0DD0>?F@!:TJI21W_M.+WO94AL/[B_HW M':YT_XUP6K#J=[D5!^FM[SI;NB.G2KRR\W?:QX"5X(957'\ZFQ,7K+Z8N$Y- M/KMKV>CKN?L&7\Q@@Z`W"*X&Z+%!V!N$-X/HH4'4&T13=\"]`39V\+K8=>96 M1)`\:]G9:;OC/A)556B.Y=ELU*(^"OV=S!V7JQ]Y.$.9]Z&$>F;9,<&`B<-[ M9&4C-Q%/.G#U(H"\6`:6>7"_06$3<63X\*7(^J'(G9LAF*Q0VX?#'?P1@0@4 MB+1`-'0@-I+=(8E&FFZ/)#&@PH;2&!OIL!GLAS,C(S:$TF0&AX3!D+`54C@S M\KZ$&*."B@G,:@*S?LS4"0`$VNPH`1;[Y#D!*L?D.@$HC/W(([O[(;O^1'XQ(P-T6X?\H&;B_(;O! MV2436V`:KU^GY.5#SF;&^1/,"`>LK-6WK>>XFGV='LJ<_2;LO&^Z\ M,2&G0CV[[1@35/KN/\GR.,C_`]>'BNZ$NDWD?=M-R-V#8,?+P'_]UY'_`U!+ M`P04````"`#X109'*I'RK@,"``!"!@``&0```'AL+W=OMFJ8U]B"SEO:)-"Q_"D3UC1/P[`.7#W@W< M2^"SJ6IE`EZ6>C.O:!BTLN&M(Z#,>9/G'^9P\]B M[_K&`U#(E9$@>CG#$2@U2CKSWTGTFM,0;_<7]3=;KK9_(A*.G/YI"E5KM[[K M%%"2GJI//KS#5,/*".:<2OOKY+U4G%THKL/(][@VK5V'\4F\F6@X(9P(X4R8 M\^"$:")$5\+:5CHZLW7]((IDJ>"#(\:7T1'SSH-=I&\N-T%[4?:9KDSJZ#F+ M_77JG8W0A#F,F/`&$]PCCH^(,-C,&$\[F&V$F(U#^"BP2($@5GB&""TTLOSH MKM`$%XA1@=@*Q'<"F\5-C9B5Q;2+F[I+L4)3K)`46UQ@C0JLGR\R00621P>! MOR@2PRP_"`P3XD8VJ)$-(A#A`EM48/O\59@^QUK#?^(R4%"\;(]'4)@LJ_%N M6I:!J.PHDT[.^]9.SIOH/"Y?0]OR5WB6=J2"7T1432N=$U=Z<-CV+CE7H+WX M+_HCJ_5`GP\42F6VB=Z+<<2-!\6[R\2>_S:R_U!+`P04````"`#X109'::C0 M(S\"```A!P``&0```'AL+W=OSKO.> MT`]6(<3!9X-;MG8JSKN5Z[*R0@UD"]*A5IR<"&T@%UMZ=EE'$3PJ4H/=P/,2 MMX%UZQ2YLKW2(B<7CNL6O5+`+DT#Z=\-PJ1?.[YS,[S5YXI+@UOD[L@[U@UJ M64U:0-%I[;SXJWTB$0KPNT8]F_P#&?N!D`^Y^7E<.YX,`6%42./V_J7]7V8KH#Y"A+<'O]9%7(EC/`4=T@A?,WTC_`PTIQ%*P M))BI+R@OC)/F1G%``S_U6K=J[?5)>J/9"<%`"$:"_YP0#H3P3HB>$J*!$'W5 M0SP08L.#JW-7E=M!#HNT.RDOEKV+1FU(:52O4F:@=$]9K$?EQ[EZE MT(#9:$PPP23A'+)[A/@CPA4!C%$$MB@VP0,]F#O8/B*2R(CAOR+[IR*S,$-K ML4+%#V?%2NP"D54@4@+13"`UJJTQL<*T&N-%RZ51CT=4N`Q"LRU6K=3PN+=H M97&6VA.+K8G%#XEEOI&7AJ03+]_\=&GVV8(*L]1LM15E7HB]!95F66#/*['F ME5@:EAF):$8P6RO*J-'N*Z"]%61FY4X&0(/H68U>!DIR:;F\PA/K M.-U?`CE`#/O&7VU]BWTG7@,]O._R1=[!,_H%Z;EN&3@0+L:6&BXG0C@2L7L+ MT9-*O%?C!J,3E[]B``.J1[C><-+='J3Q52S^`5!+`P04````"`#X109'U^_$ MK!L"``"N!@``&0```'AL+W=O1Q MUG'Q(2L`%7PRVLA-6"G5KJ-(%A4P(E]X"XW^4G+!B-);<8QD*X`<+(G1"",T MCQBIFS#/;.Q-Y!D_*5HW\"8">6*,B#];H+S;A'%X";S7QTJ90)1GT<`[U`P: M6?,F$%!NPM=XO8LMQ")^UM#)T3HPQ>\Y_S";[X=-B$P-0*%01H+HUQEV0*E1 MTIE_]Z+7G(8X7E_4OUJ[NOP]D;#C]%=]4)6N%H7!`4IRHNJ==]^@]S`S@@6G MTCZ#XB059Q=*&##RZ=YU8]^=^[+`/9]?6% M*))G@G>!<#^C)>:?Q^M$=ZXP0=LH^TT[DSIZSM-XE45G(]1CM@Z#1YAX0$1: M?4B!?2FV>$+'MPEV4\0\]6=(O"82RT_')C#R"Z1>@=0*)#<"#SS.O`(S3P5W M+K<.,[.8QF$2A-!=+Z8H`T(/[,R]U-I4_X+)1!P4^-,@=N%!U&\*L=5'?QK1G-=KQ<9?*L)4?X0<2Q;F2PYTH/ M*3M*2LX5Z"K1BZZOTI?'L*%0*K-5_`5!+`P04```` M"`#X109'(R)G-052```_4P$`%````'AL+W-H87)E9%-T&UL[7W+ M;AS9E>#:^HJ`(4V30#"5;Y)EMP&*HJKE4DFR2)5@&+,(9@;)*&5&I",B1=&8 MA3&_T*L!9I:SF"_H?7^*OV3.\SXB;F0F*94+U38:718S[O/<<\\][_/;JJJC M=9[]>9V>%NN\_M=?CX?C7T>?EXN\^M=?W]3UZING3ZO93;I,JEZQ2G/X]^6V6_^VW]N^?%;+U,\SI* M\GETEM=9?1>]S'F$K,BC@ZBZ2_?8I]N-\T^K[(ZYL*^LS3>?/K M[]=Y+QKUXVC8'TR:'T_6U[VH/PI_W+:>/YU<5G69S.K_WNPIC=^EUQFV@"%> M)\NTV>IU6N3%/(UAT%G'"*)N6 M63'OG$\/Z]&O?K7Q1-RUOX`?6SC1;"GS!MO^8=@%?8'4NW15E'667T?G=5*W M!_AC&R=EA!?9(BVC4]CI=5&V#V\V2^$[?)USRZYU%,LEX-MY7%?5;'(YC3%LV21Y+,4!H`;6$5[[_-D/<_@RSY< MK??GSZ.]Q_O1XRC+HXN;8EW!V&VPIC,XGP'=EW$78B55!>-_T_J<5#0MK=KPH:D"0S6U@_E5:PE'@H.F?U]D*D2NX5!XN/(Q":)$EE]DB MJ[.T#28#DE5RA_`(?"_7J=UG^XBN4IAE#B#]E.;K=@-=!.$TH%5Q%+<%(MY6E;_0L=7W[71DR]9Q9?LL!_W^_3_\NA$R;J^*,IHT_)8IU&C_N]?G\0`8)PV]]$XWX\&8[CXZ,Q+0[^'$\F\6@RU,&RJL(S M)!2U]SA*Z@@H8&J>*VH`=RY=7L+@>N]B.-IJ!=`2>OE>D&T02Y*L80W^@;P"H:&NP9_A_#/])JG5]DLZ[@"50#J6\^9 M=KQ+SW,@Z-#\603W7A">CGF'=G+$DW$\'DX>`>`CO*ET M+>8P8+%8\U5)D]D-3X2?NC82W22P>H`A@&G.C,F*6J1(ZP%X`."Z=O!S_DULG<_FYF:? M.XW*Y[=3TZ+[O6VAUM8UMWIT+KMK[/#*NUK?9_%A3-H1`Y!!2IDL`PZ]62%W M`P,]C-L8[MMTPF![*@ M3W;K[0'V8KZ>X?05<+1PZY%>S&&N14&,1FMWR4)()4SY,:T#Q_IMFJP64*`EJ*3.*GK$(4AC_E)8OJY'-[6V]W;HD($MHZS;OBYY/H!MZY%@B> M)54VXX/-@,+#75EH/^JPO?U!=)MFUS?XSP3H=7*=1OF:7A2'7&^][SM=W%./ M$:`-/N0";QVT^S:^Z61(HCT$W'X+P"_@W+/K7%C+V5V$DG>U8$*6S']<5\PO M=C"UWDRA8]X-<"#D@"A>W#X,8-3]BKI?E<72N94)LGL=$H/=&[[T($H5P`8O M4N*U"9G!82K26*!G\)RB&G-PGP^E5C&R1R4=^=Y"LK-MY9_DGH));#N7M&IX(DJMV!6YK;:%YMJWM*LN!N=NV-A3.T[ETJ>B= M:C"31@8LKH"WP/%F\+J&Z+(S4OHY+6<9[YG9WMND1,U:H!^0B6Q%XL^=W,M\ M9PG70&I/0+7/3PGP']'E71`&+:4-;&M&&TP_SPA1(U3Q1#-!6EI-6Q6",\/* M2UK@WCSE?^U'6;@YG0[(&9,T4$6(O1?@;5.R1Q;GU'FRV9-;C'@O(B/Z!%.6@,>]OE<-R[8ZX+ M2WQ=*-(:@YB9;*DZ1:,=W+7=AE=OT(LZ>UV`>`9$"*APDM_A#VM]7QB&T&=F MGJB9^T0)8$@FU\.1O)CL0).DY5*RR0'%D7U9*BR2\H[.O(DNDJR$H6+"H]7M5#8WRX5WH_, M/`;0(QB&Q]+.]4V9,L&OLL_1DN6/ M%.6/ID@/N)@7M=E:MKB#F><@WB*3S<("3R1;7@.988F``?K;7__W^]YY[V]__3_[T3GBCU7QG"EI)$5>1?PWMC\_ M.\7FO>@47K6$7BIK<*%+7A0U@#UU2$(E.`H'@&I`Z,6/7!!&9G_0``%=SDEC M010@X7LV2%(P.W],5WS?>+FS.[#+Z]N3D+6W5`M,>'IQ,LY M8EU&)WF.JB.F/_AH`7^]C`;]@^\,GKG8S.@5T'$YLK<8O-#>!7";%8N%*C%Y M#QEN=7U99?,L06474!5DTT0]`8LDN,-ONI0_Z/*2*H)CD/'A$&+\\];\:UWI MOV!G\,](-@`_G/)5PX.+5>16)G+&A@3@!.29NDIF:EA8D2(+T;-,>'5KD-OK M=':3%XOB^JX7?4AU"(+G$FA!=M!LAKMZ4V;PAL-@9^9!^C[)US!9#=A=\D5Z M<_9]1=B%LYL>S],*19Y`\^?2_/:FH,>X!#@A%Y(AEP&3PE:S62H4'&!QAWS. M?#T3NI$N%KWH%6F"T`(%>R&LAI'6K"N":;,K``'J+3W%@``H3Z^9$,["(@WB M0Y7AU4/@X#]6^"-30#D4.YU*,LQ-)BM8Z^<,J`*BSN-![RA:9HN%DHC'H][Q MEA\.G1\>3#5]/7Q,O]\DJ`U&2M%4DH<6/CUN+GTPG;AKI>W>VR2`3`0\TVP' MB&ES"E'B:H5W"DHH@64.FXN<]OHMZ#T(9K10:LC?;I&F+%"_`20O7>`3>BUZ M*Y(>A'Y9B@?/!6/P93I+@-],B?>F]U<&'@R5$`$.+Y,[1L(Z0^:TX/\E5:JC M^4:$=`468+3FJ&19EZ%5X3NR)'$Q1B8;'HX94BXB$D"NTG))\O$$U*>%]X_W23 M$*K"$F@SV@PL&_$VHO1G!4=FYC_9=5X2]&?\K%=I^C$">1<6!T\F M7%IXR]0>Z*H>:!,@F-1D(`-\8].@B($BZY>`S)BU\09ARYX#)7I`/OA#7B-*BQ:6Z@WRPG(EG$'FPR84*-8+PB`!.J M-Q9)B.0M"B>'VU!4)$;6,`3S.`5@4F($8M,.I5Q<#6LCB=E+\VM4W",++Q*. M.3+25R?$TU>]MCIDN43Y&2W!#N]U8D66M\#R![T?=NZY03'A#.*R?J[$U#'] ML!?=8P5OK=Q%%@,59)!HX6NX7;0)B+(!4<](;'Q%1!52B_2]%FV^)[#P7:J0 MHT9AL+A%8QS@&-S>9>5E5%=\F#Z$W!S`Y^Z3R8 MV!SDA0I>B&LGSZ*]\]L4`+%O6YPL@5V!)8J0BGCB?/U]`JE4#_[=W7JP!6>D7EOS,1I+L%E;" MK?B/?=$>W1-56K+$/P*T/5AV`7S'R_<37YKQ@R[-+_<4Y6AV/,A>=`8,X9+8 M:CPMIOE&I;S]N6"*BSI&?*`;;X-PT^C9\9%<(\Q<)*8`J[!<\9)8$4X,E1&# M<%85@W;0QY-VE=19Z5Q%2I+=@G;-N&FD40?(NJ.#>05"2^4Z$2,)DVF@4K/>]XML`058V!U:L/[XJ-7$_^/%@=2!2J;A)L. M.0;S\WR#,MY2'.8096N4K5`R`HD-&+Y<]@H[FA?E@NP1T*P/1(V4#W)EFYILQ]3*W31 ML!L2*8P<#%?LS;)A;47TOX.X3X2Y35BNA'+O6^?'O MY+-[\B0;VNT09;)D28VGZL"(NZTZ;/T]9,-F%(B@UXHL>.KL]RZK/E;\DSPN MS/UC;(>HE.%"?`*J4JPK:))_K%P%>LP$(F:B&^O+AJOD.PYX6)-*`7$^)4D2 MN*=T(8Z:8=G04]&CY)1^1F4(HQ#A/>X#>HA([QIY3;\7,'U)6E::%6B1-C\5 M?2K)/+O\$;EO9PT\++^S&X&YPS03.\V'(C2-QLQLG@B]X. M55\``+W*E@PQ&Z(D?J[*>7XJ\*G4]P&VY%!!$LT%8C+RQU2?V;GQV`"2H]H@ MNB^X:)@+U@CW@FYQ6:RO;UA3J;`#ZINEMSBW;TB^R6"^\DX\RYW%D'^U/;\/ MK)_$DUJ5&>R*3H\50*J=$G4Y/Z%-G8C/"-*KKW>0%+[S%/4ZK$T"X"T+>$K) MQDM:0W?#I,UD^VH)^)+R.Y`*)]%\*Q&H@/'SU#UG0XJ9H.,3@E3]$@5-H>)H M,2I*TG6F]%E6^[>__J]*<HJH[F:P9.A@]A0L;8!/BX=6J5T&;K M9&OBC!8`]YIDSAR*X4Q,4K(7$*,7*D(\"FG=)*Z[*<';IKT@)-*OUD*V. M[98YB9),'>W/C(&L<<&S_YSO&*-5Z>,A@-N;99K?Y_GQ"AS]EJC(0^ MO;HBA`6.8.&TZ1@]-OK0VQ)XM(/BZLI5C1!V)HNJ,%MP^1-27B\6SC4W&*@: M+P:5H)]PAWIO%VE^#2B$%XAL-#CR8'A+-W]D(UXO<,+6W0ID"H6OJ8<-\>T7?Q-!9P[K* MN5QT5+OK957^::7#X#",-STSB3, M8!'73#X!Q(3_):S;PWE#[#H_:+!EUHLDM`;_<(!AX[5&2!OO2=_$O,%YMA=M]*WEDP/<(!]S)%!\$5$1C-[F M!V216:;U33&7J[Q>X14S;S^0<[P]*+Z8ET\E$<13O&S5-T90]SL\.N6I2V?7 M(W(IJ1Z]6)=P="C@\D/[N29OGPE_=J"W$J^^N=@(/5<^%')TQ_H2^IM#CKVR M,5"!G5VEWL;4?P0?+OU`M'W MR!>BY4/<1B@$MQ1B<).4URRGBD:!GV4F=+WHE15Y3QA9/C!TJXJ6R>83FA5D M,CD3P]VQ#=P:&.UVJZI``*DD'2(0\.(!2^6;+ZXQY@E:$&/2P((<52W8$.': MG-F1QUD=(JBO'KR5(HN+3!8WD.=!_H$=>A9W=EYC]".8"3R9[CNP8>PSTW:+ M(=8XCE0-7[B\:`R$A+.EB5##O1A-74-X'-T4MXCK,7-N8EDSML&*F0C4]HBW M'^*]M>&5;\2@9WM:DD1]V0 M=`%O$'%PBV+F=&9]CTK^WY4P,O]D9'&0J:6155'G)`*KNL<33ED6=D-@Z(HT M9O!'#X[LB[R`Y:0:X3]I7T`/4'TJ6J3&&Z_$A]\5C?KV'./I=,06+>R_-\@C MTJ,JHHACN25)C2D2$R1UH$%2OAO^?%TJ%5&GVV^5(NXQ2=QOR;$N>I2I*C3G MQ,,`JI+*F5_1(A@EH=3,C^R-CY$%844Y_'7(?SG[VM4< MUW1@(Z.EN%JZT\N+<14]'O4M*S1EMLB9MT(7+/6ZAD,-\3\,ZP9\KX*;5TNI M!W$8]KHSM-$F?Y`+WW2EWM%JPX!VV#[@YAI[_1HP?GSDS#!^"#3;FEE6(^"0 MS]2O@!6T;SS5"\(4*9`\^:R(1=WA2M1+599TO"7U;>$,5*;&O;ZAY3KN/U'> MR#C96L6"JY32B0+,,X-YE^F.#G>?#F&1.^&^]S=D$X8`%YH;5NL6%G5W`->? MZ3'_6>$$=OFMXS/[0C==6:H0T@&"#[5$I3'6>4MNX>*66`6'%7_TG_\1G:QK MN`N?`.8FRACM:G_[Z[\#])]@BW]+;T'\!-$DF7U$F52=W;#)\(B:G"R3OP#> MX2^#P9.OM9T=`B\:F]FXU./64N67;@@,`)>^%$?&;1S)X3[6J;A^"H9XM^GO MA1'C$!"?IXO531:=H2``W`%ZG)(1)KE*:P;E8+P5,09#:O(ZI2$^LV%7\`,_ M?/?FV1OGQPG]^`%=8;XMB_6*K?!.^],%ZCW0?#Q?H[\5;/.T`%)EVPW_/G@7 M!-FK-%E%+\KBVL6K[XK+PMGBJ`L@_.&\R.]0*!KIPY?Q/M#?=]JX>%8^7` MD2^1`ARZC1K=Q'S&1I64)++L,Q^%&EF,_?`*'PC7;V2F3K@.A#%:@33,B/Z_ MH7Y[XWU7T4[*6/%]OF/-`"IW?&:3S65XK=:\AS]C1*$)-S$HM`%]H-IL)7*756:15VOL4*A1']MUF3,)M@[H$@A"_O^>#:%,'0?5O)#NE;&\>BP93./8$>O M2ATM$IDX%PL39VQ(N/.8D-=*6O-]-TY"Z6>,39ES&$W[FKLW,$:/"K1%<2BJ M$T6=&!TU[(3"6$J#EDP`*+3"+!/]AG^,0M3@&-H%B:O%ZXN!6JA'#!(9H1:3?4?W2+$( MV`/P^9+-F!I\H?&M:MP4$N.N9^YR-H[+!\,@_5SCD="`^#PZ/%]MXFTS=;VN M)$P%D`*=G*JK3/2M9(3R'CT+!G@=E7PT'A#C/E<)#;&X;H[4(4N&,3'`-T88 M.356^W.PX'9@0,/ZJ4*=HN"8AI'Y+L!8]`PWRP>L4+'Y!5A;?D#V%J", M>6*L0JI^9RND:8]>BMD,M<-H?Q"5.K/PGGC@'H5"WQP*&[VZ5T=PUX(GJQ:(ZK`S\"&C446YL$,A?HFK7]".2Y0:";?6/<2TI.1+7CC*'F?^-H M@Y.P(R6_=([G9.D@MGNVIHUW.Q1$9TU/(/995(Q@TVIC;`S1QZ0(R-<6S%[6 M&(@LT6-,@<7XIAV)S#"XWA/*B+`_(3N#5/*KH`'YC4+QQRW.!&C,%&C#GF M#J%S!__D"`9&5NRQJ'65^LS<%^(YRA@A_3OIH;NBZF)Q8Q!$.M[`$HK@N-7"3$Y`]2SCMFI.` M[$QLRLAC<@^AXNQ6DP):%G>I<[?U6HC#)5N$R%D)UD].-S8L$3V)R[67)X?> M6HHF%#_JV/HU^>9BW^N:&!@>GAM>4S[X.?D7\@-FQ%`3SIA4P6QKUD5!A`2: M6'>:^?1=WV$#@.:^SVO-7`#GVWB>W2!KB<;%86CT MKMYDO'!GRBI#;$WP]\S)9-4)=CNZ1!6T$338WW$=+!!9R/KLI*/1U)<[P&068+PO@!/'0 M:=L7F%/-EWR]()!FS(^X0)CK08ZBUI,%N^#Y`0ZDN:0,R$!8$-;5:@%<$VS+ M12CL!5W2Z*([8%6RLN)N@CA+29O^`/@O]/T3C/D1#K::9S,3XF&D4DGIX#"+ M=H+.@*C2X\@=WS:.<6)P7*;U;9J*_TA[ERY"XER7B2:I"4_*1Y[F"9T!@:>Q M9STH2JODJ8'<9>D[/A/.`OFYLDHUQ1FY]*O\&HH1RARH.SZTV$*]FBL3#C:K MU3A^BS9@*%KVPZ-^:E8%36[G[$7EIXU;DT'.D[%"<,K+0S-BSSTX8D;FI< MU2>U^\D\)C^E(+RO\"3.SNB`.#59@O:6N:!E=U)F:]>O1%=E7,:RO+$>3;:S M6JPK?Q#**5F4CIU&1'LM-B'^/B&;AR,5.NC!*@*+"Y20SL[HQ7Y50I0DJR+Z M21Q4=;IBIA^IF#C>(\V6^(,#YV^'^^7LCIW3DK]$(DXT_`9E7F4='H-=OLP2SI07F\;#3*8F)S95JXDT=;93>*$ M[-WK#3FOP\4*O$H,#_#8,;FJ>H%EQQSU2T-G'(]L=B+:(6]3JE!U M>+IY?G8<#UQ1!/8%42]R(\1!K69^4[>&1_<&'T6WT`H('%8.:#-XGDLF/6:[ M.3CV;$ITKWB:DUTZRYM@04;)RZ*)2A@FSD2QY^)]BDK/W%6J;'/^5&2S.I:6 M_;#JN!CA@;Y23@A\)X]ZXR%]G_:F?=]1EZQC>>JZWC;NS0-2[_UT0[G\N#(H)_G/`;#06]X3"T&_6%O,/1\ MPO\+(=Y@V.\-1V:CX\.=-_HSXMY@..P=,E48#(Y[QZ.MB_ZEH5_HJU<+P#7S/`B.)(U^6"<7QS.1F1^W%0EAG\D M12,YY/DV0%='/%]K5']6LKL#)A.0U),HBMYZ"1.!_:!DPKS@EY@#_,[$3*3. MOIQ.Y^0]6LZKZ%F!%BFT$+XX.7]&YD$Q&`2;OU^1T0+;GYR_I^:OBQY-=]`_ MIL3JQEV9I.!3WT?".FCO712K;!9-^]-]U,S!ND_6U_#573JLR*SF_+V="8-/ M<*:WC;H1=J].+::#Z-L"-T$1,F7^3?3<2Y?UWO5L%+4F8/89%=PEV\N)S=EY MJJEQ293RQNVLOJJ^"EL;;$BZ.0KY/A@?A'\<_X/H:_@?W%O)]7C03B-O\IXW MP[I<+7O`=\15+U**NCM[$&V/$\UZ3*G[*/+]4^H&$=%68:B:TX[!0@?^0ON] M\2X+3;O/1SUG\C2X`N^MWUQN]RQ$Q3=LJQV>$)JBOGD9?%O*DIL]8]?$46 M&(J'^B]3RLJJP\E>8BUKN@AQ#V"WA>EQ/!T--Z0Y[C5+X9JJ#7B*LT52B;>U M7S[641)*S+#K'=I9=;81#0/DE=RUYOSB/7=B(CA@6@[)5RQN'-WXF'+U6DV? M;KW:G"%;*9\ESK_2I#@8GS0W2YRG`([2:F"]KIP`1*MCBTEDJUJ4\D8C%T`& M1%9954X0> ML*!Y+)[X?%Q.7(U,[V(1#]]$9\Y1G.V- MUL[-(R2GS(2C8:]_N"E#_.YP]4`)[9HT]Z7QN_$>(3QX)VR,*$5%:=%A8Y(; M0LQ(01GJW*R].>'KHC;5M.9!>=U9\#L"B1W,6R-?/7][>%7?.&:DS>NX2[VU M.'G(.W'K:*3',^C'Q]-A%"Y!VO8`W+7=?;F*R0:GPXM-7DOJ,O1P@Y;8;*JM M#H7HU92B&:Y4&4C=B\B[D/'/N-K%DNT+DZV11\1+4$,SMC_5;:A:WQYUBI M4HWC6JFK-%YL9@\F0$5AQ8X:2>4XP51;<4C<)70:LZWV?#BRFT"1"@W!@W4H M6679D8PK$++`8&V(CP='DWC2[W."W1O6P)0FXQRYI17B&/M<,5S91D(8P^5X(HA,%Z!S=ZYAE?GFW%$CM5<)F; MH2S:HR&E,O/^-X\NVMK!\\9-?D07F"ZO^=>C;=7!P&`TG@T?=-=VC8V@$TQ\>@4PR?L0EK;=2JL?0:8RSCT?P MW\-#7,D@'@\FC]ZE2RE[X_IY/.H\%.S7'QV)\UFHKYG4D80;J"RI/EUG4S=7 M6^3D:J,SH(#3+8[2=C%-OV9Q[K7*N"I"@9]2RVWV777A2@[4A$BS9#'3@*A[ MN'7&Q,H3WEVC6$.;@]_E9FN'%G0VF\8V-0^?OD#4B&4,F@+W($>3'8O/FN=[T& MX]#H3/)`#H%S)36<=45$:$CY-B7\NFYX;Q)<*B?B%]';'`LKD54=KD.A&[,D MEQ*W=@DX;3^JY#]>9B:]GN,W"80F070UWOBZ-`G<`M)XH!#G-B:02WWE+E/@ M]4%P(4>5VY0#H\PZ]2LGUK0,F7<,&"-Z0)'=7.NQ\AV-2%-_49*+V5W+[]3Q M$`+RC;)SP5.(>Y^ES1X`G3-JSN?`QVDE_+=SSII)5#/"A?';P[03R250X/V8V-?#>GK6F7"#3I"&$V3,H45W M-EP(;K..HG:L]D7F%3!?IW<)PZ]LH4"3&E$2Z`;!B\'8`EVN2J6J'V?"^V$5 MZ0\SC),FLM0*&.FY>M;=DZ-Q-4>8H*43P'&\^EO$8(F0;:[*6\"&:$_\OZD% M_B*5;RGY0@H(0V$-,-.PWY^JCKAS#&BB8ZAH0'=!!X>EQX/^1LVO]5TSGN%T MY`1.]\W+BQPQEN'JH;G@0?!8KHTFNL`H9]+(._?;C;-JB'Z>Q-=2]LIQ^Q?0 MVSO'8J>U,;"XM(_#I.J4HILRSN4[PDA-C@^/HI>`XC?,.P%)=_PL7FX1$T5E_3I8BF4'@:I M?-L_^HT.WHV@E$_!-NNZ"IJ9';>#&KH@+K0):@@JWSB+&M".SW0@E08W[-TT ML?L_$8W7G0T;PWH$2%&X_/"=IBVP22L"I!]SYZ;T1M4WF%FBN/WFT6NCGG\C MF.(JK3ZH"_F).'"-X#-?]<33N'0\? M?2O(-CEF*C#J3::/SOA!PWAX/*7F.,=X MRJ7QZIN\3EI?MK"MR*IF@'+G*52TC<] M1,?E5#Y(R5`Y;%HNCYH_C!H5LC?:-CN8,3=%LWF%F[RB2Y@#^K1.EH=HBJV@ M3+P/4]=[Q#R2COUA(J0<'FEP7"5*Z`[U[F,.O;5T-:2CF[0>P99>W64\Z?A" MXQSO,@P9PY=DJC=M+E4[91\Y265B^;C&&0`^30T^!;+>[Q*'>6&$@K:0(6[^ M#V"'4*DY[$89#$)%E#L8I>:<1'G2E3.A? M\U)]\^A%AY?:(YW]T4F>(]NN]MGH+D/;U0&25*92E#-]CU0S^]&@-^E'!T`E M1Y-'[XS`2]D-D9*1Y-OOC0^?0",@%H,G=AQ'N)L>X??#X1/[J-/[I1(YRF6F MF#Q7DI^0(>L(&6I1U]QR6G1@4S#E>%IJ*7F?9UF;FT@/&&M0`S)\JVZ@&TB' MRC%69GE=\4X1`0^DN6=7,N+P>N9=;#-*WDMM=/*?*'T0LA!R^0XH'E6U9Z)+ M)[\0JN"-2BPNRV!SJ?G4")=*C+$OLU5J]J`;%A#9-M`%D=I"JN,.<;+6P^8' M27A]#:>E=;&VC/>_3.#M6R]ML+O9I5'T>Y/'YC"T7@N*2,#/B/9Y(U1W@E"7 M8-L5"Q>$T`=U9O%8,F2[C.N)+1 M"&CJX8@9I`E<\>.1X<0.\/\,"S;#.[!`SX(]\=#9A^9(-1Z=&8<>[K)A\7&# M/`(W-[$KF.`*QD-O@`^.C]!;>=T>/2>2S@\)&8>CYW@89O]B4:6U\UW'[X\` M-P^CYUB`_`PSFY$]UHQ__'0X?`J+0FYQT(/]#::T3?U]\LBXM5$KP[B;$0;# MIR,[PG04:6$;_3!Y]"*]+.D(X*]!]`K376(ZG*P"4B'C1$.9<`###!'"`F_] M??J(36W4Y&6.E\/VKJ+1TV/M/>H-1M%H?!P?`X#E]RV]QT\/&[U1+M>?L3-[ MQ$8G5!95USQY.I@\I=\?1Y->_S@ZY+=Z,)`/$]NS.6F[\S!6-LCIS_87LU`7 M1RP6-0W8IR;+"+-*IVYFSGLUWN!2.NU%F[N^!#*YS&WVB&\!!?".L>(93.MEHE+7%<#V9JZJV#0 MO1>0KFC0FD:K:C;+T6QR==@*$;2"+L4F2F!`9LS)MV%D33E?/Q?T/7(R^'FP M6WAD]<)6;^U,Q(7):HV23?+,%JD@W1026L"0DA/ZV$*!-J$H#:$?R",R)\V? MYB,DX[Q3X0'C@>$_"QB^J1VQZ2-+\)R$=RI3\1T.\)!V[;1R,+T=Z%4;A(,CU+INX$)*@QFF$*9DKBS(+=TPMG; M:IWQDP"<9[T@VT.VK*)6I:UNRM#.D+$[O0G2EX82^3;=E=AL@-(]B`]J7V%P M`!V>KAM7X:8"Y,*&;_+(L&YC&F`0F^SE)+*3$VQTDF/-5AP`&7"O"H9"0-0I MN2,*JR2A_/F0I^@;Q>_KUP/4%YLQ;(;9B_1S4GE17QA0=/&26JR`]*W%5LF* M\HN7=&NN2SHI,071%0]?)K,OKK%%T#[7VI4O[4BG63D#!)-HII>G-+WUM(#K M>_&2KXUN!1JQ&4XR[5?%0MIQ#HJ*](^XJ&JPPVEO*E*P7HP.04]\*J MMOZ1C2?JXC$A(#[1]D7G)TT@TM MMZGU:;-SCH?VWX?C=J).4C[CYCMTSDT((FEQ$ZJMMOF,V9P<]_%P8SQV<0?7 MV,8,^U+*0@T1M*%6DLL0APSD@)=JA7.BB>8Q:8U[8A^F-WA5RVP1#4FQ-A@% MJ93ZI*+P^44$RU#5*D&5*G M$S_CFU`=#:S;T-W9?#M(+KTFH#@Y<79HLD&R/T1=?;N#&P/&3DD<>\!-U2@M MN:E,>6CV>Z(PS&9M%"2S*H5XOB45^:\^W/M=D]Q9$<8I4*?N:X$B=6]X>G'3 MHBQW<70X?D)-CB9/>&`*AW$&>FAF`_88&\KP@W%C>'8B#R5#:$9_F'QW7CDJ MN/+7:0%T907G@O*#NF\_#*8-E^8HX-(<^.F$A8.W:8F^!:BM;?_RVBN-1IG/ MS+D)F$_@#V#$*O(.GDP.H\DT>H+*NDD_&AW#/[>,@<<;#:?3"+C+)]$$]C4= M;.\E^'$\085@](3TO#CK,#Y$5^I^G_XZFD[DWTV7[O8/7Q\' M\E>3N)B4?F\UI=_V%AMHU5$P2>"S!!TT\B05LYZ6QR M,"G%(,I!46)\42)"X%`QPUPZ[]A;UK%`L[@'+T+2C&S-$-B+WNZ04?"JP2N/ M;09[UU-CLY]AT^O#M]ILR9;/4!]F;L%%*&))DV06)/\4N&P*T&T%D9(U M4+AS:^F3$\22CK`\-XFA>FZXU/I!::-B/P^(GYN0F=J>3]71%DM.NZW4FOLA MVFX#5IX1TWGR^GGT_.6K]Q=GSZT1KHU<+K+ZB27'_7A\?`P$/1Z.1C9CYN-H M;Q`?'@^C??SG"$C+&/X9R`-Z0"$=,S$1,(2A!PA_8^[;[PW0@+?SIEOT^R?9 M\N%A-#J*)T>'WI9AGU-9]F%\=#2\YY9IH_2O(?RKQ0^N+SE+=QV=D=5D:X,- M)/@8V,56&Y MNK.`>+"A*><-W0H6ZZ9,.4G$*[7I1F)S)',XO4VZ:C(@64F47;6I(>7S+E!G M7=SF@DKPJ"4EY3,Z$1&Z/)AI+*&.1F'=;@%PN\X4EZ;UNM!S,O,)DG=[56)S?FP1<6%Z$U1F5C]SH.)S4%> MJ."'"'OR+-ICT6;?MC`,+9WY'N*)\Y42%?;R$!9:@ M;!Q=KFM3S54LKB`^H%<`J:/5YP,W'4IBR,\X50+4\I!N04.W,"!YFF)IHH-* MK6J%B>DUU5+1`O7#^1LV0:%YV2_0M%J7JT(JI(0RT.T56K:"&(H4U^J24N0,SZG(KP\6%*RK2D'?4]D4*7%M-5UE,_2D=RCJ([[>5QIG M$_#V;UU%RB:8U_:647KT9_(`H9=SP`-L:Q?^29XQ*6^+*0\3K7^E3JJ72?ZQ M\M6L1'YB)N^QOJ&4UHFH">>,R)9T:U*J&%.Q$I3NNY^@,ZN%&KGZ5ZP,C$)< MZJ6)**Y+JJ-MW"G/,N<(0X*NLU'@B M\6+IVE1J!!E.V`A"Z3.`UDLY5/77O\:N.=T5,[A=L1F8!],P053!LRAGS[!(8 M4UJW]T0IZSM#6=D^82@,$H/GQ?JROEJ;C*RM&_W`8:@$18"X!:8L,)!]A]K7+? M/C(B6JSXP*'=>/ZK$I,1$4X4E[3Q&:^G3"0]AF0VS;MT"\*-Z,V^;=:8HTK4 M7I1'.B$+,&>9F-1-K433R5"9=D?%@$R56MEPE'*.!2[8> MG";@$7/9*.=DF0]R(YRO9ZG:'NB2.< M@5-9N#Z\X=&M0\`M%DD[**Z\$FD]$U"L6W#Y)DUC8*^YP4!U[V90:6(/&U^) M MM@[`&$_4UL(V%;X]*S_[$?NI0=>))+=6D?>S/1V?*<#C,25^ MW8).<_1L!L)7JXT.R$]92Q5&3$N^X;,6HF_&UFHBKP-*Y,5&.[?JIF4QX-7` M2XK2FTU.8:HHFIS#9^$.ISQUZ>QZ)%%[+]9ESCF>^#W_3&6,HXE\MM#3X&2- M&Q2$B,B;B!/'\8[31I:R`R=+F:&[@9U=I=[&HL)Z4.D'FDLD&0SUH%@\+`R` M%/\]0@R3:TA]Y((=<-B:&3KYV.;GV_F@)?/ALC`IKSRU/S7/[Z0`F0T%\.N/ MA:J)V?*I#7?%[Y']3'.ZKYS[9`42MU"0FZ2\9C%=7;;<`N;->_'**@!."'>V M-J#'#G=0T;;P0<]*6B4(H'*&ANEDMWFC;'3`4U4%`E05#R$J9%P,@J5(7UXU ML29'S924D6_-W/*+EZLR3SDO;J7(Y2*?Q24V>L'#"M2>0@S,O.+3><$_6&!:5X93S=)EP[C>:VM8ZR.>V<#H-H>F75+,P$_LD M!:1@?4YO'ZT]^&G,6KCZ0NK?G6I9P`NGOA\NYL+:PZ)O3;V_5W3?ONI@[*NV MSF?B=&L*%"KGNV,ZO>O-)I_)-;S4H:-8L2J>;- MD_(EL,_9%UV_Q@S^Z,&16Q5MG&HVE10B1TVV*/0:3(H20G[CM,RL5VK'S;`G M$H\_")>#%R24JI%.=6E_BF1;,:)`F<]OE3KO,7G>;XGN+GJ0?5P\7S94CMRM M^*.4OZ1\,=UE+^758(9J;WR,/!3;-N"O0_[K`7568*9V^4QT/AXY M#O^2P,/-GI$L31(_/-10U2N&=0.^X9J?:MSV(`[#7G35%A3IRW^YH:&-` M.WSK:-#`\>,C9X;Q`Z"Y7>/-BA2ZH*^_J23*C$T19IJX7L?C_A-E^-PTUP&%GDX4$"/XO':9[NAP]^G>2#5SZUQZ M7R<&0C7TES/\XRTLZNY`Z\K(GYP^I*N^C%,^ZO;&E.<6BCQ`\*&&S18B\);< M0NI-+A>-FB;_^1_1R;J&2_7)CS9Y%OWMK_\.T'^"+?XMO05!'.2M9/81I7-- MC8U-AD?4Y&29_`7P[F``/;[27K8YC[1WLF&=PV-_F?)G]]8'@$1?BASC-G+D ME,4U+X7QZKOBLG"V..H""'\X+_([UT9D=M^D M\5I_[IU5ZNS0)'IE@EJTPMHW7&*MY.+03E$[DLE-ODJ!?>*TNZN7>". MTJPU@[70"%BB=.#@U+P@>5A=:YTD[VRGTMCI0H=795`[S8"=SY@Y2/,:6HAN M'^UCWT1[@WT3[2EADM$"4PP!JE]*Q2IGZ9K7SQB+]+'1T2DWE\[YFVAON.\; MERP<*P>.?(D4X-!MU.@F5DJV75$!SZOL,Q^%VK*,F9;2T+EN0S-.9>%!>.W6 MG:2>-^U9Y`&.ZD*'/B.-1T8B>CSI6R5Q&NUYCW\&8-4)7F&N97'#H4:]7$]XPE(M'=5>&1Z/7`AL%Q6 M8WYPL<;20446F4ZS].2:U'E#VM,03.JMA*::Y&&]-17L`TI<%!&0,C0Z$Q_DLJZ<2#-YP\+\QBM&%F2 M;:9>2\*=QX1$",]V2[`*PY4HL28LLWOF;#S9]0.+"%-F:%#7"I5BW<^,#(]@3W`X, M:%@_-1!H4D>U>088BYZM%\P!H:8>LTD-3=K_`[(W`67,$V,54W.").;1]NBD MFLU0V^W6HB&FWQ,HW*-0Z)M#8:-?]^H(;JX#*F`/N8LXCJB*X41-'8\2?@3D MY4QC:V-!Y@+]ZK8?@3PW"'2S;PP#2\D#S*T]JEX6;H8D\:/EE\YQG"T=Q';/ MUK3Q;H>"Z*SI<,4NJXH1;(]NC$W%1KAP3%4P>PD3W8E'CQ#@=BZ"=I'I%T05 MLF5Z4!<'Y)UQ:UY8=`@_L!6,M2J0RYP8>Y36]-$K%2QW;(3-GBUN[3Z]_RQP MO0,):SD3SJE<)W)3&SY%[K^MKX8HFN>>?370]OY!34NA%'A=?/=+1UL\/&HG MV/D*TX\W33^T@4LN>=F[+'49;M5&URVR#^!Q?'\+EY]]^2 MY>HWS^G)V79ZTE;:J9,12K$+,N[!O0#2F:>+Q@.0V1P\E.F9",EG5GS8>B*4 MWA&;JU->S4GV8W)#$N='W,*2(K$_W;4\,,\\H3Q([5IF2&(8R MF3K;[/K+)C6NX<-U4:A;J^R-6S.@44S`*X6UJ9JG#-^L0!3+:VQDZANCHMA6 M]4XD'II8=YKYCY4R%08`S7V;E<4@8ZZ)`:<5-,KHB>^0LS]31XWIN7J7DJM6 M"WY.9GRW5(GF0L_*(.0DJZ%%)4F&7S3=;1K1)_2Q$H MP]0:A(0\"%<0E+HW3/B+TJL')I/1QIU) M$DC@4]'3(N'J$;L1[$Y)(+;`MQ$TV-]Q'G0K-BH*NHY,CG3:2$RYZ5ITELI@ MJSQ@G\B%P(X(*LPU1!F)%.*;U@KUO`(=E;9B,ZY6G*-=U^VM9=ZH5/HG+X>_ M$PHD\H_K$=VUX6`DT;W*4C1)XTN&PD7RN>TAXG[S)7XO]JD9ZB:N+.8F:5D% M8>FP"QXUQ?;/6!.5@9`D++O5?KCF[I9K6%<`/XXN.A-6H:L((L==TV8,T6WZ M7N"_G$QB/P(.5',I>VE50Q@%0,;R%'T)Q,EU3,K8D>8)%_)!\#3VK`=%-08\]9>[+&49M!X0,JZE MUB"6B!&5VT.A<6[51\=%&UNHTWQEHB!GFBHWN40ENL6DTQ!3"N#Y7HZ&JGDJB_'@[6C:/58EWY M@V!2M`FBWA+0?.WPZCG5$9YLYIVWF2Y[!Q-@_IDY`XJ>-Y%\Y;2H0J MS=.KK,/SL\OQ76+P\F+#>)TYQFS.L$!V'8W!MN^-S:SEWLPORN?U$&$];5Q0;)0Z_NI:0>LF[]K"2UFL8+3IJIV)X0Q:K4\^% M4IBT/<3X5IZ@K1W(8+C5,U.)3-7AI.BY2')4?55I#6WQ`*62WK8Z\H9NC<"` M#>ZE!&0I"8O%*XP$TN87/6]:>AMW\TUMNQ>B0_T+I.4;C;DX&Z.^.7?54MM\?6V^0M52M4RW5<=E#`_TE;*VX%-] MU!L/Z?NT-^W[?MEDF,Q3U].Z<5?OG37OY]OEZ%!V.1GMOLL'90;4LNOWV%+C M:LB*!S3!8>]HAW-Y:"3;SW0>@^&@-SRF%H/^L#<8>B$`_X40;S#L]X8CL]'Q MX:G%_4"WN"Z/5D9%J-$:^^+D_!F98L6X$FS^?D4&'BX^])Z:ORYZ--U!_SA& MY:.Z8;#EVX5V?HT,;!12>B/8+S M/)4P6A;^O'&_))_N!7GTM*3DC@0!G3'R@2J;#\LD$+13BSS[+Y1F`&,".E9] MCC;!]4*=B3?D*7>M>%8YL9/C@=:=A5'?FE&YB9V`3[T](,%R"Z)N7@>6:''6XJ3K/4\IVN69TXV!1>Y[=Z*7]D)V?;_]`HU[2_1%M9*Q.V@ M^39SXVX'&TCZOB$ENOW7VVTEJ!Y'Q\?XGR%6L!C2?U&V3]27CH/O\4RGTPAK M;0"S/YP,U,F!SCOKCB,OF;C6Z/H9.6']W-,92S(>'0ZI=,89] MO*,"Z:SS=I3*YUTC4O&-T=&&(VD5O(>[Q@^47]9`JXSCPVI]&'*GZNUNA_=B M*Q=TDN<86405(M"U_B[#K(L'D2ER3^D=]H@,[4<#*GL=C7NC"06X'E"4`@4N M8:%RXI_Z(#]BG91!;SQX8L?Y5*`:CPCW]`B_'PY;05?GFZN'[[9GG[;\).7$ MHYW*B4=>.?%H>SGQJ%%.?-/B=RHGWGK`U'N'*>(;-OS_Z7L25S:1$CP-%T.C M%96Y?_K`(WIME/=O!.&]NN=;3L.#2MTZBT%\")S/N-\G2`!YT6.8'#.X1[W) MU)R&^!?A:0`(Z3".IE@UK#F+!^UA/#R>4G,Z[VD3=%K?NP.T8;`\K+1[]&6E MW:,O+^T>?972[M$7E7;?W'M+:??HP:7=HR\L[1X]J+1[J#!;)[=A+_'6RF`/ M9@C^6?3KGT6_6D6_6F@;J.G5A;7/6@5M4/W0MLHV^_VSE-$_9"DC*E60+1&Q MT-_GG3%;[CU/ZR1;5-%%^ADCZ/=AAO?GSZ.]QS@:YH=6N`6EM(H(8\4E9$G> M^`2C&1<>J@$&S-R7J!ID@:TM!70%77Q:6"W1;#4*JQ(Z%`]=\S\N3W;_\8[?WG_VV=LM?H_.R[C=^_>_?AM#E3ZCLC9L?1J9\UE2]W M5W:ZH*/)_1)A;0ILHFB4U@:Z[`:=!J>];2;RMLZQ,V]\2^;8;HK9S?AR_T5^ MO:FWF'!;,[.)OJ5(0(/VH*U?8#MW^V>R>;=^?L#Q;K-`!]:/1NSVBLB@W?IY M"YREAM)'MEKN`#TKAUMN[W]$G21MIZH+]UUSE]TL=!/N>QP_Y=A;8-T^ZE`] MAJYGUL\PAYD%8D=2:!5?!):PWT*6H\/0KZQ?%9-03#Q8UR(&P6&;Z:BT-R#. M/<8>'H7&'@Q#OPZ/0[]JWJ<'+F`P"2Y@%/K5YITZ0T:3,IM77S)W<$-NSJJ' M#CP('GDCY]4#!Y=\;@]?74<&N(<--@IN=1#$>3_AV0,G#*9&^X+Q-N=_>^#Y MCT/;;\?C&ZECBQ`4Z-G%/YJF@4C\=JAS:@/^@=:^X"B65]*3AJ%X>%!M:U*O><)=IC>.VZ%#^[P^KQ3ZIKV M0Z,<'(9<:[ZB<`!$QS1LQ;'U"#`5O1H88`0-%MW=RNUWJ<^6'`F=1V],T]\;TW176]=(?>)+FQLQ:Q.(HP$">=HRY%J" M@"3)L>Q9RK;Q@M"!W-OXUTV89?*G(:M&'#U+@1+304IQP:T#^?W%FO>P7G'; M[O?0?9PQR>S8Q!8;9GQ/F&P=K@,J6_NUC-)?MI'-0-F.X<-M&/X3^5;$QJ]" M\Y=J$H,6$QOREV@].7#?E^MEM\8VY%S1YA4HT%JAT2*(8?>+9K-^6+/1VMH:N(U`%9OV^(WT\(/) MM]!UJTR#[=?':2J^'0^XH[OVM(^DNGDBKKX")(LW^Y)L)4"#@0)X$CS1K[>4 MS21DHLL8X#+NCRQC1)8F=G2C@D->7#.72:GALF&;F*_SX.@;/3>ZKICU#&GS MLJM>-!S&CW[U*_37:%]Z%ZT"),'U*MD\=HL,;W,BZ1:"T:+2M6+O:VO.7;Q. MNN:%OLYV!IL_M[Q[-OJ:=$U)8LAQUXS>U]:$)ROX>MC5U_L:6&S0MZ5[F7?1 M8"*#C5O,4?&I9S^WCJ3;&V8CTQMMNK%MR^WNM[Y++#NYOBX!7VK.V(-QO5HD MOB56==ZB5>-C6D8W_S5X_>&FW.C@/ MN,E";(?C(-%W/91WD>'"LLF]./EF8VU2N%RH'*I-$B/,8(K5"1-S]L`WE5F. M9D]B$[N&=OA%FR*XD6S`X26_<)A+BO]8$FA:`/^2L6(G'*;K]38V&ILV+I!) MJ\E(=^*FIW(PJ6@HS`C]V(.:$,Y\QFSXJ9?Z/*!I"#X8_2D]["WGU]\G\.H/ MQ_2Q]=1LF;J+D+PN^XKO[1MG6A":Z]+D[" M"?TGQK"7PW%&A/.[[`-#!!^K[Z8<3/MX;2)>V:#)36>SKTJ"OG:\6>BHW3V& M]T?+)<,@_;GSJ!W;WV$X/(W-:VSBQK9!J>RHN4`F#Y[UVUAMB2-IW9:WH*S#X/2>]@>N>&$`EYA.W7O)-"&F>!<)F1UKWB$UJ&3^;YKVXZC+C)9 MJ`MN:3""D#D*`AE];-+NV(MA<*B0!VT0M56>I2IS2-GB+?C>\O_L%/#OX0X: M6K[O\%FU_3WOL6<763KD]UWB7()^R5V2`[`%)@=3A82+LR=*CJ>Y2:ZU6MLP M6"Q*!N#8P,6SG:C.$#NW6Z*>5E7]N_\/4$L!`A0#%`````@`^$4&1[?+[4V_ M`0``KQ@``!,``````````````(`!`````%M#;VYT96YT7U1Y<&5S72YX;6Q0 M2P$"%`,4````"`#X109'2'4%[L4````K`@``"P``````````````@`'P`0`` M7W)E;',O+G)E;'-02P$"%`,4````"`#X109'!CZ'])D!``#/%P``&@`````` M````````@`'>`@``>&PO7W)E;',O=V]R:V)O;VLN>&UL+G)E;'-02P$"%`,4 M````"`#X109'XC[;TI<"``"S"@``$```````````````@`&O!```9&]C4')O M<',O87!P+GAM;%!+`0(4`Q0````(`/A%!D?]=W;A/P$``&D#```1```````` M``````"``70'``!D;V-09 M7)PC$`8``)PG```3``````````````"``>((``!X;"]T:&5M92]T:&5M93$N M>&UL4$L!`A0#%`````@`^$4&1_Q1G[F,`@``5`T```T``````````````(`! M(P\``'AL+W-T>6QE&PO=V]R:V)O;VLN>&UL4$L!`A0#%`````@` M^$4&1RMC"51-`@``\@<``!@``````````````(`!EQ4``'AL+W=O&PO=V]R M:W-H965T&UL4$L!`A0#%`````@`^$4&1_VT@!G6`P``RA$` M`!@``````````````(`!)AX``'AL+W=O#G<)\1`(``%8'```8``````````````"``3(B``!X M;"]W;W)K&PO=V]R:W-H965T&UL4$L!`A0#%`````@`^$4&1[W(!5V@`0``L0,``!@``````````````(`! MH"@``'AL+W=O&PO=V]R:W-H965T&UL4$L!`A0#%`````@` M^$4&1P_R%IZ@`0``L0,``!D``````````````(`!(RX``'AL+W=O&PO=V]R:W-H965T&UL4$L!`A0#%`````@`^$4&1][6K0"@`0`` ML0,``!D``````````````(`!I3,``'AL+W=O&PO=V]R:W-H965T6 MO#-WGP$``+$#```9``````````````"``5,W``!X;"]W;W)K&UL4$L!`A0#%`````@`^$4&1Y%]`J2A`@``6PL``!D````````` M`````(`!*3D``'AL+W=O&PO=V]R:W-H M965T&UL4$L! M`A0#%`````@`^$4&1UF:J,;X`0``408``!D``````````````(`!LS\``'AL M+W=O&PO=V]R:W-H965T&UL4$L!`A0#%`````@`^$4& M1U&PO=V]R:W-H965T)_Z6;P`4``,&UL4$L!`A0#%`````@`^$4&1X\HZ30Z`@``@`<` M`!D``````````````(`!#E```'AL+W=O0!```C!0``&0``````````````@`%_4@`` M>&PO=V]R:W-H965T&UL4$L!`A0#%`````@`^$4&1R4?K5.>`@``_0D``!D````````````` M`(`!_58``'AL+W=O&PO=V]R:W-H965T M^XD8S[@$``(,&```9```` M``````````"``0I<``!X;"]W;W)K&UL4$L!`A0# M%`````@`^$4&1Q6;ZST?`@``'`<``!D``````````````(`!+UX``'AL+W=O M&PO=V]R:W-H965T&UL4$L!`A0#%`````@`^$4&1_C+ MIXDT`@``N@<``!D``````````````(`!:V<``'AL+W=O&PO=V]R:W-H965T&UL4$L!`A0#%`````@`^$4&1VFHT",_`@``(0<``!D` M`````````````(`!-&\``'AL+W=O&PO M=V]R:W-H965T v3.2.0.727
Stock Based Compensation (Details Textual) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Dec. 31, 2014
Stock-Based Compensation (Textual)          
Aggregate vested options to purchase shares 265,000   265,000    
Exercise price     $ 4.15    
Expire date     Mar. 03, 2018    
Purchase price of stock options per share     $ 0.70    
Purchase price of stock options amount     $ 185,500    
Vesting period     1 year 10 months 24 days    
Share-based compensation expense $ 174,000 $ 343,000 $ 772,000 $ 1,415,000  
Stock Options [Member]          
Stock-Based Compensation (Textual)          
Aggregate vested options to purchase shares 265,000   265,000    
Number of Options Outstanding 2,296,200   2,296,200   1,709,400
Options outstanding, vested and expected to vest, aggregate intrinsic value $ 34,000   $ 34,000    
Options granted to purchase of common stock to employee     500,000    
Options granted to purchase of common stock to board members     90,000    
Options granted to purchase of common stock to board members, fair value     $ 600,000    
Weighted-average grant date fair value of the options granted per share     $ 1.26    
Common stock reserved for awards     2,100,000    
XML 13 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; white-space: normal; /* word-wrap: break-word; */ } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..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 14 R25.htm IDEA: XBRL DOCUMENT v3.2.0.727
Deferred Revenues (Details)
$ in Thousands
6 Months Ended 12 Months Ended
Jun. 30, 2015
USD ($)
Customers
Dec. 31, 2014
USD ($)
Customers
Deferred Revenues (Textual)    
Deferred license fee revenue $ 3,016 $ 3,403
Prepayments for Future License Fees [Member]    
Deferred Revenues (Textual)    
Deferred license fee revenue $ 1,900 $ 3,000
Number of customer | Customers 5 5
Deferred Engineering Development Fees [Member]    
Deferred Revenues (Textual)    
Deferred license fee revenue $ 1,100 $ 400
Number of customer | Customers 1 4
XML 15 R37.htm IDEA: XBRL DOCUMENT v3.2.0.727
Net Loss Per Share (Details) - USD ($)
$ / shares in Units, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
BASIC AND DILUTED        
Weighted average number of common shares outstanding 40,499 39,233 40,477 38,587
Net loss $ (1,792) $ (3,874) $ (3,864) $ (7,882)
Net loss per shares basic and diluted $ (0.04) $ (0.10) $ (0.10) $ (0.20)
XML 16 R9.htm IDEA: XBRL DOCUMENT v3.2.0.727
Deferred Revenues
6 Months Ended
Jun. 30, 2015
Deferred Revenues [Abstract]  
Deferred Revenues

3.   Deferred Revenues

 

We defer license fees until we have met all accounting requirements for revenue recognition as per unit royalty products are distributed and royalty reports are received. Engineering development fee revenues are deferred until such time as the engineering work has been completed and accepted by our customers. As of June 30, 2015 and December 31, 2014, we had $1.9 million and $3.0 million, respectively, of deferred license fee revenue related to prepayments for future license fees from four and five customers, and a total of $1.1 million and $0.4 million, respectively, of deferred engineering development fees from one and five customers, respectively.

XML 17 R29.htm IDEA: XBRL DOCUMENT v3.2.0.727
Stock-Based Compensation (Details 1) - 6 months ended Jun. 30, 2015 - Stock Options [Member] - $ / shares
Total
Summary of all stock option plans  
Number of Options/Warrants Outstanding, Beginning Balance 1,709,400
Number of Options Outstanding, Granted 590,000
Number of Options Outstanding, Granted, Expired/forfeited (3,200)
Number of Options/Warrants Outstanding, Ending Balance 2,296,200
Weighted Average Exercise Price, Outstanding, Beginning Balance $ 4.92
Weighted Average Exercise Price, Granted 3.56
Weighted Average Exercise Price, Expired/cancelled 86.25
Weighted Average Exercise Price, Outstanding, Ending Balance $ 4.46
XML 18 R28.htm IDEA: XBRL DOCUMENT v3.2.0.727
Stock-Based Compensation (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Summary of stock-based compensation expense        
Total stock based compensation expense $ 174 $ 343 $ 772 $ 1,415
Remaining unrecognized expense of stock-based compensation 1,038   1,038  
Product Research and Development [Member]        
Summary of stock-based compensation expense        
Total stock based compensation expense 99 92 322 360
Sales and Marketing [Member]        
Summary of stock-based compensation expense        
Total stock based compensation expense 66 76 172 251
General and Administrative [Member]        
Summary of stock-based compensation expense        
Total stock based compensation expense $ 9 $ 175 $ 278 $ 804
XML 19 R30.htm IDEA: XBRL DOCUMENT v3.2.0.727
Stock-Based Compensation (Details 2) - 6 months ended Jun. 30, 2015
Total
Summary of assumptions used to value stock options granted to employees,directors and consultants  
Annual dividend yield  
Minimum [Member]  
Summary of assumptions used to value stock options granted to employees,directors and consultants  
Expected life (years) 1 year 6 months
Risk-free interest rate 0.47%
Expected volatility 68.00%
Maximum [Member]  
Summary of assumptions used to value stock options granted to employees,directors and consultants  
Expected life (years) 4 years 4 months 6 days
Risk-free interest rate 1.41%
Expected volatility 72.00%
XML 20 R31.htm IDEA: XBRL DOCUMENT v3.2.0.727
Stock-Based Compensation (Details 3) - 6 months ended Jun. 30, 2015 - Warrant [Member] - $ / shares
Total
Summary of all stock option plans  
Number of Options/Warrants Outstanding, Beginning Balance 3,335,073
Warrants, Granted  
Warrants, Expired/cancelled (80,000)
Warrants, Exercised  
Number of Options/Warrants Outstanding, Ending Balance 3,255,073
Weighted Average Exercise Price, Outstanding, Beginning Balance $ 4.45
Weighted Average Exercise Price, Granted  
Weighted Average Exercise Price, Expired/cancelled $ 0.50
Weighted Average Exercise Price, Exercised  
Weighted Average Exercise Price, Outstanding, Ending Balance $ 4.55
Weighted Average Remaining Contractual Life, Outstanding and exercisable, Beginning Balance 11 months 5 days
Weighted Average Remaining Contractual Life, Outstanding and exercisable, Ending Balance 5 months 1 day
XML 21 R8.htm IDEA: XBRL DOCUMENT v3.2.0.727
Summary of Significant Accounting Policies
6 Months Ended
Jun. 30, 2015
Summary of Significant Accounting Policies [Abstract]  
Summary of significant accounting policies

2.   Summary of Significant Accounting Policies

 

Principles of Consolidation

 

The consolidated financial statements have been prepared in accordance with U.S. GAAP and include the accounts of Neonode Inc. and its wholly owned subsidiaries. All inter-company accounts and transactions have been eliminated in consolidation.

 

The unaudited condensed consolidated balance sheet at June 30, 2015 and the unaudited condensed consolidated statements of operations and comprehensive loss for the three and six months ended June 30, 2015 and cash flows for the six months ended June 30, 2015, include our accounts and those of our wholly owned subsidiaries, Neonode Technologies AB (Sweden), Neonode Americas Inc. (U.S.), Neonode Japan Inc. (Japan), NEON Technology Inc. (U.S.), Neno User Interface Solutions AB (Sweden), Neonode Korea Ltd. (South Korea) and Neonode Taiwan Ltd. (Taiwan).

 

The audited condensed consolidated balance sheet at December 31, 2014 include our accounts and those of our wholly owned subsidiaries, Neonode Technologies AB (Sweden), Neonode Americas Inc. (U.S.), Neonode Japan Inc. (Japan), NEON Technology Inc. (U.S.), Neno User Interface Solutions AB (Sweden) and Neonode Korea Ltd. (South Korea).   

 

The unaudited condensed consolidated statements of operations and comprehensive loss for the three and six months ended June 30, 2014 and cash flows for the six months ended June 30, 2014 include our accounts and those of our wholly owned subsidiaries, Neonode Technologies AB (Sweden), Neonode Americas Inc. (U.S.), Neonode Japan Inc. (Japan), NEON Technology Inc. (U.S.) and Neno User Interface Solutions AB (Sweden).  

 

Estimates

 

The preparation of consolidated financial statements in conformity with U.S. GAAP requires making estimates and assumptions that affect, at the date of the consolidated financial statements, the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities and the reported amounts of revenue and expenses. Actual results could differ from these estimates. Significant estimates include, but are not limited to, collectability of accounts receivable, the achievement of substantive milestones and vendor-specific objective evidence (“VSOE”) of fair value for purposes of revenue recognition (or deferral of revenue), recoverability of capitalized project costs and long-lived assets, the valuation allowance related to our deferred tax assets and the fair value of options and warrants issued for stock-based compensation.

 

Concentration of Cash Balance Risks

 

Cash balances are maintained at various banks in the U.S., Japan, Korea, Taiwan and Sweden. At times, deposits held with financial institutions in the U.S. may exceed the amount of insurance provided by the U.S. Federal Deposit Insurance Corporation, which provides basic deposit coverage with limits up to $250,000 per owner. The Swedish government provides insurance coverage up to 100,000 Euro per customer and covers deposits in all types of accounts. The Japanese government provides insurance coverage up to 10,000,000 Yen per customer. The Korea Deposit Insurance Corporation provides insurance coverage up to 50,000,000 Won per customer. The Central Deposit Insurance Corporation in Taiwan provides insurance coverage up to 3,000,000 Taiwan Dollar per customer. As of June 30, 2015, we had approximately $2.7 million in excess of insurance limits.

 

Accounts Receivable and Allowance for Doubtful Accounts  

 

Our accounts receivable are stated at net realizable value. Our policy is to maintain allowances for estimated losses resulting from the inability of our customers to make required payments. Credit limits are established through a process of reviewing the financial history and stability of each customer. Where appropriate, we obtain credit rating reports and financial statements of the customer when determining or modifying its credit limits. We regularly evaluate the collectability of our trade receivable balances based on a combination of factors. When a customer’s account balance becomes past due, we initiate dialogue with the customer to determine the cause. If it is determined that the customer will be unable to meet its financial obligation, such as in the case of a bankruptcy filing, deterioration in the customer’s operating results or financial position or other material events impacting its business, we record a specific allowance to reduce the related receivable to the amount we expect to recover. Should all efforts fail to recover the related receivable, we will write-off the account. We also record an allowance for all customers based on certain other factors including the length of time the receivables are past due and historical collection experience with customers. Our allowance for doubtful accounts was $167,000 as of June 30, 2015 and December 31, 2014.

 

Projects in Process

 

Projects in process consist of costs incurred toward the completion of various projects for certain customers. These costs are primarily comprised of direct engineering labor costs and project-specific equipment costs. These costs are capitalized on our consolidated balance sheet as an asset and deferred until revenue for each project is recognized in accordance with our revenue recognition policy. Costs capitalized in projects in process were $725,000 and $200,000 as of June 30, 2015 and December 31, 2014, respectively.

 

Property and Equipment

 

Property and equipment are stated at cost, net of accumulated depreciation and amortization. Depreciation and amortization are computed using the straight-line method based upon estimated useful lives of the assets as follows:

 

Estimated useful lives

 

Computer equipment 3 years
Furniture and  fixtures 5 years

 

Equipment purchased under capital leases is amortized on a straight-line basis over the estimated useful life of the asset or the term of the lease, whichever is shorter.

 

Upon retirement or sale of property and equipment, cost and accumulated depreciation and amortization are removed from the accounts and any gains or losses are reflected in the consolidated statement of operations. Maintenance and repairs are charged to expense as incurred.

 

Long-lived Assets

 

We assess any impairment by estimating the future cash flow from the associated asset in accordance with relevant accounting guidance. If the estimated undiscounted future cash flow related to these assets decreases or the useful life is shorter than originally estimated, we may incur charges for impairment of these assets. As of June 30, 2015, we believe there was no impairment of our long-lived assets. There can be no assurance, however, that market conditions will not change or sufficient demand for our products and services will continue, which could result in impairment of long-lived assets in the future.

 

Foreign Currency Translation and Transaction Gains and Losses

 

The functional currency of our foreign subsidiaries is the applicable local currency, the Swedish Krona, the Japanese Yen, the South Korean Won and the Taiwan Dollar. The translation from Swedish Krona, Japanese Yen, South Korean Won and Taiwan Dollar to U.S. Dollars is performed for balance sheet accounts using current exchange rates in effect at the balance sheet date and for income statement accounts using a weighted-average exchange rate during the period. Gains or (losses) resulting from translation are included as a separate component of accumulated other comprehensive income (loss). Foreign currency translation losses were $(49,000) and $(47,000) during the three and six months ended June 30, 2015, respectively, compared to translation gains of $30,000 and $65,000 during the same periods in 2014, respectively. Gains resulting from foreign currency transactions are included in general and administrative expenses in the accompanying consolidated statements of operations and were $5,000 and $31,000 during the three and six months ended June 30, 2015, respectively, compared to $8,000 and $34,000 during the same periods in 2014, respectively.

 

Concentration of Credit and Business Risks

 

Our customers are located in U.S., Europe and Asia.

 

As of June 30, 2015, two customers represented approximately 90% of the Company’s accounts receivable. 

 

As of December 31, 2014, three customers represented approximately 87% of the Company’s accounts receivable. 

 

Our net revenues for the three and six months ended June 30, 2015 were earned from twenty-one and twenty-seven customers, respectively. Customers who accounted for 10% or more of our net revenues during the three months ended June 30, 2015 are as follows:

 

· Autoliv Development AB – 31%
· Hewlett Packard Company – 28%
· Amazon – 11%

 

Customers who accounted for 10% or more of our net revenues during the six months ended June 30, 2015 are as follows:

 

· Hewlett Packard Company – 29%
· Amazon – 19%
· Autoliv Development AB – 17%

 

Our net revenues for the three and six months ended June 30, 2014 were earned from nineteen and twenty-two customers. Customers who accounted for 10% or more of our net revenues during the three months ended June 30, 2014 are as follows:

 

· Delphi Electronics and Safety – 14%
· Hewlett Packard Company – 12%
· Netronix Inc. – 11%
· KOBO Inc. – 15%
· Wave Group Ltd. – 11%
· Clarion Industries Co., Ltd. – 12%

 

Customers who accounted for 10% or more of our net revenues during the six months ended June 30, 2014 are as follows:

 

· Leap Frog – 19%
· Kobo Inc. – 13%
· Netronix Inc. – 13%
· Sony Corporation. – 11%

 

Revenue Recognition

 

Licensing Revenues:

 

We derive revenue from the licensing of internally developed intellectual property (“IP”). We enter into IP licensing agreements that generally provide licensees the right to incorporate our IP components in their products with terms and conditions that vary by licensee. Fees under these agreements may include license fees relating to our IP and royalties payable following the distribution by our licensees of products incorporating the licensed technology. The license for our IP has standalone value and can be used by the licensee without maintenance and support. We follow U.S. GAAP for revenue recognition as per unit royalty products are distributed or licensed by our customers. For technology license arrangements that do not require significant modification or customization of the underlying technology, we recognize technology license revenue when: (1) we enter into a legally binding arrangement with a customer for the license of technology; (2) the customer distributes or licenses the products; (3) the customer payment is deemed fixed or determinable and free of contingencies or significant uncertainties; and (4) collection is reasonably assured. Our customers report to us the quantities of products distributed or licensed by them after the end of the reporting period stipulated in the contract, generally 30 to 45 days after the end of the month or quarter. We recognize licensing revenue in the period in which royalty reports are received, rather than the period in which the products are distributed or to which the license relates.

 

Explicit return rights are not offered to customers. There have been no returns through June 30, 2015.

 

Engineering Services:

 

We may sell engineering consulting services to our customers on a flat rate or hourly rate basis. We recognize revenue from these services when all of the following conditions are met: (1) evidence existed of an arrangement with the customer, typically consisting of a purchase order or contract; (2) our services were performed and risk of loss passed to the customer; (3) we completed all of the necessary terms of the contract; (4) the amount of revenue to which we were entitled was fixed or determinable; and (5) we believed it was probable that we would be able to collect the amount due from the customer. To the extent that one or more of these conditions has not been satisfied, we defer recognition of revenue.  

 

Generally, we recognize revenue as the engineering services stipulated under the contract are completed and accepted by our customers.  Engineering services are performed under a signed Statement of Work (“SOW”) with a customer. The deliverables and payment terms stipulated under the SOW provide guidance on the project revenue recognition.

 

Revenues from contracts that are short-term in nature and related costs that are difficult to estimate are accounted for under the completed contract method.

 

Revenues from contracts with substantive defined milestones that we have determined are reasonable, relevant to all the deliverables and payment terms in the SOW that are commensurate with the efforts required to achieve the milestones are recognized under the milestone recognition method.

 

Estimated losses on all SOW projects are recognized in full as soon as they become evident.

 

Deferred Revenues

 

From time-to-time we receive pre-payments from our customers related to future services or future license fee revenues. We defer the license fees until we have met all accounting requirements for revenue recognition as per unit royalty products are distributed and royalty reports are received. Engineering development fee revenues are deferred until such time as the engineering work has been completed and accepted by our customers.

 

Advertising

 

Advertising costs are expensed as incurred. Advertising costs for the three and six months ended June 30, 2015 amounted to approximately $8,000 and $28,000, respectively. Advertising costs for the three and six months ended June 30, 2014 amounted to approximately $23,000 and $129,000, respectively.

 

Product Research and Development

 

Research and development (“R&D”) costs are expensed as incurred. R&D costs consist mainly of personnel related costs in addition to some external consultancy costs such as testing, certifying and measurements. 

 

Stock-Based Compensation Expense

 

We measure the cost of employee services received in exchange for an award of equity instruments, including stock options, based on the estimated fair value of the award on the grant date, and recognize the value as compensation expense over the period the employee is required to provide services in exchange for the award, usually the vesting period, net of estimated forfeitures.

 

 We account for equity instruments issued to non-employees at their estimated fair value. The measurement date for the estimated fair value for the equity instruments issued is determined at the earlier of (1) the date at which a commitment for performance by the consultant or vendor is reached, or (2) the date at which the consultant or vendor’s performance is complete. In the case of equity instruments issued to consultants, the fair value of the equity instruments is primarily recognized over the term of the consulting agreement. The estimated fair value of the stock-based compensation is periodically re-measured and income or expense is recognized during the vesting term.

 

When determining stock-based compensation expense involving options and warrants, we determine the estimated fair value of options and warrants using the Black-Scholes option pricing model.

 

Income Taxes

 

We recognize deferred tax liabilities and assets for the expected future tax consequences of items that have been included in the consolidated financial statements or tax returns. We estimate income taxes based on rates in effect in each of the jurisdictions in which we operate. Deferred income tax assets and liabilities are determined based upon differences between the financial statement and income tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The realization of deferred tax assets is based on historical tax positions and expectations about future taxable income. Valuation allowances are recorded against net deferred tax assets when, in our opinion, realization is uncertain based on the “more likely than not” criteria of the accounting guidance.

 

Based on the uncertainty of future pre-tax income, we fully reserved our net deferred tax assets as of June 30, 2015 and December 31, 2014. In the event we were to determine that we would be able to realize our deferred tax assets in the future, an adjustment to the deferred tax asset would increase income in the period such determination was made. The provision for income taxes represents the net change in deferred tax amounts, plus income taxes paid or payable for the current period.

 

We follow U.S. GAAP related to accounting for uncertainty in income taxes, which provisions include a two-step approach to recognizing, de-recognizing and measuring uncertainty in income taxes.  As a result, we did not recognize a liability for unrecognized tax benefits. As of June 30, 2015 and December 31, 2014, we had no unrecognized tax benefits.

 

Net Loss per Share

 

Net loss per share amounts have been computed based on the weighted average number of shares of common stock outstanding during the three and six months ended June 30, 2015 and 2014. Net loss per share, assuming dilution amounts from common stock equivalents, is computed based on the weighted-average number of shares of common stock and potential common stock equivalents outstanding during the period. The weighted-average number of shares of common stock and potential common stock equivalents used in computing the net loss per share for the three and six months ended June 30, 2015 and 2014 exclude the potential common stock equivalents, as the effect would be anti-dilutive (See Note 8).

 

Other Comprehensive Income (Loss) 

 

Our other comprehensive income (loss) includes foreign currency translation gains and losses. The cumulative amount of translation gains and losses are reflected as a separate component of stockholders’ equity in the consolidated balance sheets as accumulated other comprehensive income.

 

Cash Flow Information

 

Cash flows in foreign currencies have been converted to U.S. dollars at an approximate weighted-average exchange rate for the respective reporting periods. The weighted-average exchange rate for the condensed consolidated statements of operations and comprehensive loss was 8.42 and 6.60 Swedish Krona to one U.S. Dollar for the three months ended June 30, 2015 and 2014, respectively. The weighted-average exchange rate for the condensed consolidated statements of operations and comprehensive loss was 8.37 and 6.53 Swedish Krona to one U.S. Dollar for the six months ended June 30, 2015 and 2014, respectively. The exchange rate for the condensed consolidated balance sheets was 8.31 and 7.80 Swedish Krona to one U.S. Dollar as of June 30, 2015 and December 31, 2014, respectively. The weighted-average exchange rate for the condensed consolidated statements of operations and comprehensive loss was 121.29 and 102.12 Japanese Yen to one U.S. Dollar for the three months ended June 30, 2015 and 2014, respectively. The weighted-average exchange rate for the condensed consolidated statements of operations and comprehensive loss was 120.23 and 102.47 Japanese Yen to one U.S. Dollar for the six months ended June 30, 2015 and 2014, respectively. The exchange rate for the condensed consolidated balance sheets was 122.72 and 119.93 Japanese Yen to one U.S. Dollar as of June 30, 2015 and December 31, 2014, respectively. The weighted-average exchange rate for the condensed consolidated statements of operations and comprehensive loss was 1,096.06 South Korean Won to one U.S. Dollar for the three months ended June 30, 2015. The weighted-average exchange rate for the condensed consolidated statements of operations and comprehensive loss was 1,098.02 South Korean Won to one U.S. Dollar for the six months ended June 30, 2015. The exchange rate for the condensed consolidated balance sheets was 1,126.89 and 1,096.73 South Korean Won to one U.S. Dollar as of June 30, 2015 and December 31, 2014, respectively. The weighted-average exchange rate for the condensed consolidated statements of operations and comprehensive loss was 30.78 Taiwan Dollar to one U.S. Dollar for the three months ended June 30, 2015. The weighted-average exchange rate for the condensed consolidated statements of operations and comprehensive loss was 31.17 Taiwan Dollar to one U.S. Dollar for the six months ended June 30, 2015. The exchange rate for the condensed consolidated balance sheet was 30.92 Taiwan Dollar to one U.S. Dollar as of June 30, 2015.

 

Fair Value of Financial Instruments

 

We disclose the estimated fair values for all financial instruments for which it is practicable to estimate fair value. Financial instruments including cash, accounts receivable, accounts payable and accrued expenses and are deemed to approximate fair value due to their short maturities.

 

New Accounting Pronouncements

 

In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” (“ASU 2014-09”). ASU 2014-09 amends the guidance for revenue recognition to replace numerous, industry specific requirements and converges areas under this topic with those of the International Financial Reporting Standards. The ASU implements a five-step process for customer contract revenue recognition that focuses on transfer of control, as opposed to transfer of risk and rewards. The amendment also requires enhanced disclosures regarding the nature, amount, timing and uncertainty of revenues and cash flows from contracts with customers. Other major provisions include the capitalization and amortization of certain contract costs, ensuring the time value of money is considered in the transaction price, and allowing estimates of variable consideration to be recognized before contingencies are resolved in certain circumstances. Entities can transition to the standard either retrospectively or as a cumulative-effect adjustment as of the date of adoption. On July 9, 2015, the FASB approved amendments deferring the effective date by one year to December 15, 2017 for annual reporting periods beginning after that date and permitting early adoption of the standard, but not before the original effective date or for reporting periods beginning after December 15, 2016. We have not yet selected a transition method and are currently assessing the impact the adoption of ASU 2014-09 will have on our consolidated financial statements and disclosures.

 

In August 2014, the FASB issued ASU No. 2014-15, “Presentation of Financial Statements - Going Concern: Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern”. The amendments in this update provide guidance in U.S. GAAP about management's responsibilities to evaluate whether there is substantial doubt about an entity's ability to continue as a going concern and to provide related footnote disclosures. The main provision of the amendments are for an entity's management, in connection with the preparation of financial statements, to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the entity's ability to continue as a going concern within one year after the date that the financial statements are issued. Management's evaluation should be based on relevant conditions and events that are known or reasonably knowable at the date the consolidated financial statements are issued. When management identifies conditions or events that raise substantial doubt about an entity's ability to continue as a going concern, the entity should disclose information that enables users of the consolidated financial statements to understand all of the following: (1) principal conditions or events that raised substantial doubt about the entity's ability to continue as a going concern (before consideration of management's plans); (2) management's evaluation of the significance of those conditions or events in relation to the entity's ability to meet its obligations; and (3) management's plans that alleviated substantial doubt about the entity's ability to continue as a going concern or management's plans that are intended to mitigate the conditions or events that raise substantial doubt about the entity's ability to continue as a going concern. The amendments in this update are effective for interim and annual reporting periods beginning after December 15, 2016 and early application is permitted. We are currently assessing this guidance for future implementation.

XML 22 R32.htm IDEA: XBRL DOCUMENT v3.2.0.727
Stock-Based Compensation (Details 4) - Jun. 30, 2015 - $ / shares
Total
Summary of outstanding warrants to purchase common stock  
Shares 3,255,073
2007 Debt Extension Warrants [Member]  
Summary of outstanding warrants to purchase common stock  
Issue Date Sep. 22, 2010
Exercise Price $ 1.00
Shares 16,000
Expiration Date Sep. 22, 2015
December 2010 Employee Warrants [Member]  
Summary of outstanding warrants to purchase common stock  
Issue Date Dec. 03, 2010
Exercise Price $ 1.63
Shares 200,000
Expiration Date Dec. 03, 2015
February 2011 Legal Advisor Warrant [Member]  
Summary of outstanding warrants to purchase common stock  
Issue Date Feb. 22, 2011
Exercise Price $ 2.50
Shares 80,000
Expiration Date Feb. 22, 2016
March 2011 Investor Warrants [Member]  
Summary of outstanding warrants to purchase common stock  
Issue Date Mar. 09, 2011
Exercise Price $ 3.13
Shares 349,973
Expiration Date Mar. 09, 2016
March 2011 Investor Warrants [Member]  
Summary of outstanding warrants to purchase common stock  
Issue Date Apr. 07, 2011
Exercise Price $ 3.13
Shares 34,100
Expiration Date Apr. 07, 2016
May 2014 Agent Warrant [Member]  
Summary of outstanding warrants to purchase common stock  
Issue Date May 15, 2014
Exercise Price $ 5.09
Shares 75,000
Expiration Date Nov. 15, 2015
May 2014 Investor Warrant [Member]  
Summary of outstanding warrants to purchase common stock  
Issue Date May 15, 2014
Exercise Price $ 5.09
Shares 2,500,000
Expiration Date Nov. 15, 2015
ZIP 23 0001213900-15-005751-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001213900-15-005751-xbrl.zip M4$L#!!0````(`,]%!D<7^2]C#+0``#ZX"@`2`!P`;F5O;F0M,C`Q-3`V,S`N M>&UL550)``,F5\-5)E?#575X"P`!!"4.```$.0$``.Q=;7.C.+;^OE7[']AL MU>Q^:,=@&[]U=[:V[5_>U7`FP#!AN, MC(VMJ9E)PHMXSCF/CHZD(^G3OR9C37B#V$*&_OE$.A5/!*@KAHKTX>>3K\]7 ME?;)O\[^^I=/?ZM4A"]0AQC84!45J391D01*[[?\(E?8=V2/ZQ;Z*;`,+O_G?E-QOUFA1WZ"J0TL%TP]"SQDZEBV(\@?!0R%U MQ5I7E@D*_T.35ZRA+OV_0#2@6UT=&KKZ^61DVV:W6GU_?S^E5PP5GBK&V)5% M;-:)=KRG-:3_"#U,2SHU\)`\*=:K]/8K$7'V.+VKHOD+P8>;5>_F_-&EHM_K M[K-2I].ING?GCUHH[D%2J%3]_?;F21G!,:@@W;*!KH2PH!78H\\CRVC4I-:J M-[PG9B_HAJX[X_CG51M7[:D)J^2A"GD*8J3,WUO_4O@%5W%VK%9E3ZOV[%'% M<'0;3\//6E`Y'1IO5?\F-7*](DJ5NC1_S<&85(>D]_R[],5&^$45HOAWR(V8 MQ^%$&<4_3^^X[`N_@/0W:-GQKWCW8J31`5*L^'?<6_05*?R*A93X%\B-N,=M M$R<\3^[$O.!8E2$`YOR=`;!>71OZ-V)$)WZ'1BJ2?5F2^],'0;3FSA"2HV=8DA#Z?X-Q'Q M;?Z#+Q?$-QKC%U%ZN07XAN87C5^BIRL-!WD3V=/$W4ND5XMFQX*HQK+49 M:RZN?STY$^D_[98HBY^JT9<7!5IP2.'-+JCDDQ-30PJR/2R"BLA]KYGSR=5- M%.KD;/Y(LG2?JK$?H@BJ2YBJ\6H@3$"&&I#"!MB^)*C()6J`BDCK<*#$P/VY M9M7("W4I^,'9W=F5Q2>K(8JDXDQ-?/D%Z.2')(8X4VLL7R_&^ALI5A*I>ZB) MJ17KO]#8FF))9;R$"E5@+:18L;E\?9\56ZN0?S,PUG^AR5ZQ/>OE?D"=F:^_ M>M3)+5W?*[UZ89CM*:E.E12LUHN[^914O^U3ZO5,ZN^E1EA%I*X[>OCZ7JDH M0CT24S4R48\\W:S41?;4RZK5EVO2Y1K#>7-T8RB`-N5N^_H(+4@BBU&/@(-O M4#-,^DA_8I+6#):CG5TAWJ*E32'G]EO<0R71$]1(-#DDNB6AW0]HD]\/CT'K MA.3TV90^WLB/1C3;4\=(1Y:-R'@<2B4I)](J(LTU_`4:0PS,$5*(0BF- M^@[M^Y:#+8E2++@2%(=38C-*]"P$#H80"V$X'3:CP]>G$M/`'T?N?GWBYE]E M?O*B0J3%;O/[B*P?Y]-SJ"NC,8G:O&@5:-!Z))T`W8%WT"Z'?U@G52!.C1./ M4V8596[!'P;VALH@MER2_&J\&B2D\]1TH)Q:%OODS)T*Z(:D7\$=3M\]I2_1 M'#9T-#E>"B]I@-.X?#3^&;YKT+8?@/(#8/5(F1RG!$[F\I'Y&WB#7[#AF#?V ML5)Y606I0Q.[O*1^Q)JY@CU-:BX\:-B M]73U"0R@/3U2@J]3""=YL21O>B3W$Z)*GU0AE5.K/*EBGY(J#I%$/*F"TX%(%3ZHX+/KRI(KC3:HH M*XWGL4__/PX1^<(8FX9._IQ-26,,])+0 MH.)@1#<.Z$\4S5&A>H6-,56R8[LU\W[0!UA'^M!Z@/AI!#`\G\87X'D^NI3] MWJ1OEH->6U1&P(-%M<()FLI[+>T+08I\H_M&6",A)T[&Z.W)T$F; M@4W#"S2.-(*+U0*/XLI'YQL(3-(H#?ND2&QB9$'K>/LEJY3!R5TLN?V=4>)H M7(8,E=#.*$M*8K4SRM7W%1Y@OGG,GJHH/_4B^\VPHEY6K?)9C=UXGGTQ_Z4? M5OO^ND<'#H:N3I^G)O330;U'^OH0Z9#`TH>!5*Z:3F%-K M,\_RU-]WKJ3P+$]];OY5YE\;@/<45Y4D5%0@>@.DDU\./Y(^$DZ2D!,G9Y/T M@*$)IO2214EC;6GWR>Q*XOL0 M%S/.O/_VY[.E!V]KWOG;L\Y?F9G"8[*B8K*]94GO'6!U3HC^V-2,*83E2X,( MBA%8.)$D3WEM'%XM+B=,4\C[&4)'NB9RUN7)OOH7[M?KV<*C%MUXZ:O/SK9=VN?52B8G#E_GOT3+_PZ$5WQ>`DX*G M0?,TZ&.@,$^#YFG0I2?V(XV&7$[>(AV-G7$YN#B'O3!^"#\W>DJC@TFYC1[$ MSXV^8/$U^-2SF$YH38C MU!5\Q0[`P2"SK]'1K1LX!%I/?4/6H77/LHO,R;5I+PTKHR4U1SK"UKU>EGR! M]9VU3/)R6J6?YBV5"TJ8VN4^I3"?4@Z>,'(HG%#Y\JK'8T,_M$SJB$Q'18[H M@=DEVZDI=%C'DI(8'\B204E\XZ4='.:VE_;G*^L.WM9\.0G MR6%N^\02GK1]^#;FV3][D/US,.S@R3S'S@L^-W[0'WSF>D.N[_6T7[LBUC=5TM\J M%>&KCFSA"2IT,$H0*I79];_^Y?K_I/^^^NWA9SB!EW*SU?[^"/^#SJY'/^!; M_P?"D_>VK#0:#4669>7Y?T=GG^5NN_FQU9>ZG]M=J7WU\R?IZA>Y)^['_`0^+03U/36'2?.,(V__H8`LO!\,SGD7MSAGYV;_8W+2.FQ*]/ METO%D:BG49-:77(O>VDO1(\O[GYV\W)5]$8L>!9X^,X90PR(7]SPTTOOTXN7 M4#?&2(\K-JV"0D54P^A72_[+P_=$/9)[&?7XU/\UL31R+V-IOSY^2RR-W,M8 MFND$3!M6,+V5L;3YVO2E(KUF=7X_JP8]IYI0JG]W79FT>I-VG#X:JOF?5(BZ M?=?_/,*A>^J";M^!,11\G_$(!WF.N;HC(`T5?A"N=>53->EC%.'BW@6DR^VU M:UV%DU_AE!&2H"]._-8,2(\H2G5G[C0P9`1@`#0+>M\.%3_[YH6#,;V$+`5H MWR'`?2_IA='G*Q6I5JE+'H"D;\VP7!J*,YN^8O1]2:S\V_MXL/#H!Q_B0!:JN2)7+(90PB`BWXF'X2%E">3?M3@8@>]$JJ3'ET=H&I@> M[T/#1V98OM.6;-VWPGBND`;Q!3';T,"L'$1/4:!&VV*H"F[Y05"A#T9TLXB3 MW6#!NG=L&I&I!'LLM`VB48'Z<;<0/VX25*B@,?$HGT^N[ZY.SAJB7&MTVHV0 M(E<`HR+,`WU@T<._Z`^:\_(&-#?=Q;X@/;TI>?8WH#GQ=='O0TET1)8BKH?5 M'',](`F-UP)B5.HG9^VV)!,O_:F:"1I36>;4:"10II%2%JDF-MH[%F9N@$:" M8=(*TY1JG7TQ3(JZO%*6NB3GE&5YS\<[:/MNJQ!S2)+8#(FP"A$+Y,R4WVQ+ M&P'W1I_5TA#2/3JT&CV`1M_D+@VODUBK?^:&TPNI$B-CKE( MS`S3JLGY17*SFY#JG]E&7KBW1^1%RX*V563]D*5Z2)@4N!B*PF]U(DU>?FSLE"E%&+["_`G['A#75$QK*S2S4C3;CHXPPE'Q@F:FRW6YD!XL=J-X@ M\(HT]WR2(I7;J,JE`,EB-XG!Q0+D9M<3%:7F/J$MCIZ2M%]V*H2?5.Y.9KDO@(EL MH-U`8,'[5PT-W8V("VVJFN$^^VI$;+"SB[!:&V+?45C0Z#3#;>SJQG5'D8!< MDVH94"9H_<[0E2*C@68J+BQ0,1.!Y=CEYB($;%1,]Z%>3R3)!KC8D5>NM=+@ MHO,GR!L"H\/#!`UI[*"N;$]_$PMU=:1]/K%)6'U290`FA])6@`FO=VB&#;%QZPR9\#74U5$W2/0'@!2KW7?>18S M8]/LB%(8:@*Z8HSA MC6%95P:&:*A[H8(R?2;1MJ6Y;5=/_`:38NS3Z$1'-EC+L4,U ML2-%=/!TNVIZA#8@O4QU=KYPX'.DXT13D`LA1T5JRIW(!/AZ:.P$86:^"JW4 MG7H.05S/.C(T%6++VR"EF-#=C=@"J)=Q;(Z27>VH2QE`!J).$M'M2+%+TR'K M4+&28'M3*%DD"$=D7I94S[%'!D9_0G5?8MJ$G"^YT:C)H=GA%;*PD;K(<'B[ M4C\`?(]=B*H;*,Z.KM\7FX?7'P240"@OGHJBE*2"),'8JJ+@?E%1JO#X3:BIDO++8-I$_)X!5Y^&KU! MNAO[[])=^5=ZLEBY&*JA%.Y\K1*6$MZ9AW+K:=P2HU/0*U`Q`+]9'+U%\%L. MK#8C4@I\#,79N&^S?7&V$."D69S2D.6Z7%M!J^4F?`/03.O"8D5-'M#L@PXF MZDY:";0A_*(5GP#?3Z*(GQ"K>PO">B:.T7/FU3WMR"S][--;@[-H=K]`8XB! M.4(*T+PM,QV:9IMY.JDH>#T+@;6Y,6Z"]OZH].O3FO%(6;^:'HM3>5(CE[..I5[0D&L,W6F!=%4DB2F;5(A/&VR;;>V MRM-Z+46C?V%8]OW`OU-`'-J0:Y'^>N#[V8"Q#4F:D;8G!S"VK5"KWMJ.QO+G M5K3D=,B^8,.R'K`Q2$@;8$RQR&+:P->S@&(<\=8B2>D;HF(JLA MY47/V'>W(Y'JEM$S]M]2I[$[W>Y>XBMYB967J2[%\#$2KW=:L2#7.#8!"9; M.E9:[0.F<)F7(V'J1YW MAGQOJ+@W+-PE`2-K^K=@0<;C1,WL>`,K%[$QIKB0[I`7_.;6T*US.#"PO\+Q M&4R@=8MT`R-[.O.KI`L3+L5;?'0+[9&A!C;7W$FL6*!\^Z36;<>V1ZI6YK%X ML\/5NH6^0WV/U$J*\_WN.=3AMB8R5W8.TL-@/)P>8X4E'&PTECMDJV\3*^/P M,KI_]5JL=]#>\9A-"$$V:.S;LAHK:,S;@PXS:,Q]:C.E06>[*\R69YP#"RGN MCNJ:8R>L:LC'OOBU)#6"6CR5`I#7(,LK1#Z>KA*B5IP0^1B]2@BQL2-+L!1B M0SI]@_3D4:CVWDC`,81W#LT7O!^XKP56>&RYJBRO0A%IRDRM'EB/NAG2+ M56R#K[JX//K(7(X=:8IQYJY\N)JZ^KY"4_DVZ-Q9S<@_:=4Y7(,S#O@;K8)5 M%5-X@4Z3='`:X0[."CQY8#/OS4K1)/^MP&;=TVTWI.*UG;\7W)$V@CWK'T"5 MOD">=NM#$2-PCF],#ZS]LR@6MZ-'VZQ'M04I!=,-[\GD9O[\UI?/E&RB!:G%IEF3H-K"W+D#W!J2S/%J>3P#J-??GIV M2J3[FP(+&XF M6&0NB7=PIQ(ZH8YZN:7SU(JH+K6E>>%-T18G=&Z;2NOHR4CHR`%/1;1%4GM= M6Q0!Q5H"!O-J2Y.YZ26@!T@#:T1\XQM2H7H^_4J"96+/6=97CW3"WXJJ7)5F M]-B']/"V)A2#$%KJ,!#JP3].[=GH*230QC#QO-@BPNEPI4F/;6L2,9!V?P*Q@HI9R!>MO"O0,$3-5(./\_,R[P]_/!RW_4OOTV+R$_JWI+,4RW8*4$K\,=J80;\SUR3%-S=TE$&AWANLG'AQ, M7`=I?`?S;M(W9(_BV^4":"?["4UL`!8]1G.?M+LCZ9@V5,-?CY1#,W`7>'OWDD)'X4!*;8R`&.D3;O"/VPT)K&( M#M\%$H`#_1\?!/?*!\$B$`?^TQ;Z$W8%233MV05:=%?0#4P,[%][`QB1Z#UR M]=W-X%M^3DIZ']D=KBE?XB MG0J^]07/_,+<_O29ZNOLZ:HY^^V(;+@7%EO\=RHC/DF\KTIGQ-QFW3(T>G@/ M^6/@=9"`1L7U-N,EED&ZHCDJ*5/3!##/B2,WZ+O('?L2C(&/4<"0'G!/KP6> M%>P1L`6`(2V-_`$%PT0Z;93(BX0&8.A^[`,A!ITV!7A*%(`%(`P`PH))X@#: M[-G^"_3]!533L-RSCP6@J^3KEJ.1[Y&GC/EJ2?>.0MI+8:`1D[A%TS)FVC!= M+V7-O@/54X'J,+ZLV>BD7I`OJPBQ=T_BY8^^Y`OLD/T/$"60F2;0H`%>E6?"H8[J>IA/>5UKQ3N M,^PUN;UV8:^F:<_LE<%G9O"0&[@$\@CM40@C0#S`*X0Z]3TF\12J\#H5'&)B MT\%TJ-T6;,,M&SL:M'P7-W0TWQGYSO"K[GIW=P=U2_BG1[O_;^]=F]LVDD#1 M[Z[R?\#US=:QJRB:+[V23:ID6OIQTNMU?OFK?=5./W9_>6-=H7@6?CD<3+E= M+/3GNU&$V MPA/MAJF7-8K_0ARF\,,#N!&A@_<,0!CQF#XG/NF9*6@6VYTB+FY$14(8'7[G M4Z'>!#H`Z`4L6+^?G7W)H2)#?K;9L)/!Q(V5#A`^EK4)(1H'B0=;B+J#T7+@ MG;\3GX++!2RX/J6-5P^(F$6LH@*%TS#00@Z301):9[Z?P$O"Q+9@F@^`=)`' M!_]*Z5)7)H(7D*)I/[FAF=$G%-VWNJ`1_ MN/A'5JZ#=LQ-STSF]/3L>V8LN.+]JL3F%$O!TCWZS`,_@//I1]\&M0\;XG&\ MW^-@&9#*=5$S)\/(=5R&;7#A#!J!@A9A:FA?D=D`WRG-^?\I;S#_&&+I,G1A M@V"P+%+J3^8G,%D,QEZ8MSLO+_Z,GA@T=63:P&#T86FX)&O7=CC@"8R#@H4?G_R*-V9P%[#\+9GAA" ME1+:1B8W8H>`PXG#!%/=H4?5`ZYC5C3F'M[?W79R+`\J0 MVVS"+4XQCW3Y)P?N]J3W%8]C$S83TAOWD?S_^%\WBA+@?*HF15>2"6988A`^ M3(D1-0FL.Z2O"U:%7O4))PZAS,Y04@_%*D)!'= M?4YE6+QZ3YM$3@`(!_&'2W-X9(?N4%X2X*LDW1(\WJO8*%IP=EVJYK=0O@)U M>P)^4D&(57F!HAXC8 "-]A"Y@-_U%(%PC%)8E);IGK4?8WBF579D8LW08C M@BO*X$8$5WV'ON%5G>?R6RY$Z9TTDJ-DA!8?Y>VAI05"3%A:/+66?!C2BN^X M!X\+JPG$[!@DN+A40V^@'X#Y%R4A<;#R):5V'!C>UH2#58R>Q-3$;FF!*R`0 M8EC%E,7*%X65E9F(N70Q-W\#B+XK(%&C*L)AD:05'U'?HH8@"$_4'& M&MI3(:?$6BL"Q6P+`\H64=)D2\CC&TH/XF_X8XN]8_".M-><`*\QD?[+YAHIW09NW:;K7-(8LL6]Q(1YS\L&^P-$":X8]8( M<"@+,9"!F,4,N'X4NW%"L[4L3L7^XDQM(M>\Q7(/T",N<*,(\QZGU-UM+8@NS?X?P.ZE$)F9(11NF5Q5J!15XQ9&9ZEF0:Y6G&9(^TLC2GZ$GAH M0$2[R$UPW%M)=.+ M!?0*L9Z_5.BUM:N#3*T6_:5>N4HF$XP-!AK4MM+*]M)2FUET*['579@/('C( MGH@WJ[$K!7:-H=IE5V%?LDA$(,?S-)0/I-3RRS%#AK4CPPIA")UMJ^-&"^** M"^)JT[!880_)-(]8AD(GOK!U6V>GMJ$%PRT/YY8L^ZDDE'O(/.*):(P^'K!3 M%V_3XG7&T?BO(/U(K[Q,UZL/NPLM2&-:_E:6OT46=XX5QX%PPN,OI1S=2B7` MM8H'0Z/_[)WU^NJ.`R+>9$^<38"&8(DR%@\%C/;K'PS$@?R)_L;?+BX_9P// MYE_T`^LOC&O[J.+:K*O`$\?824V53&+$05[`.;YIBPC%/;5MD9L#*T5YUC237Q4S'>?&[- M/7B0YJZO1)!LOJ90:!MV?[@78@YC3^-T:!P6+Z*8`O!6)&I5`(D5DJP59=8* M80AUC_"_I*4K5KMNA/<#X<.;D3D_C;S&C`!-/]#=S17ABHBD*$HF4R%@1<$- MNLE*(YYP5A7QM$;=#TH[I_L4C'B:I`XAF(;'*ODH+;;>TC*_):3HD:?@B,(7 MTH-UT1RA+&F.SW!9O;]MG=EQ0B5&Q$6.Z("*Z>(5*YM0$IFZGT*@E?X-T^X:+>DJ&V-4BK@&'I$"CC$:!&,Y M7`_F!!H5L`)$3H`T*4+EK&#XMPP#Y%BF$H\'>@[4OZ\N+W(Y4#`ZE4,15WMH M0TR3$._<@I4O+@R$3YEO68LF5259%XS/%JJ.]#,R M!;PA@R6GLL8RUJU)W_L`TX>4YTNSP@E0/7XN,W@I*`:0:H_5"`AA!%I1KM02 M^NE&7E61H0C,GF*D-9Q[0Q&$CF"[@,T;?-4GC9P.GJTX'5@, MUI5!WA=)&-"`=@**!H[#\O!_B[G)*?I8:TQQFTWP+BJ8Y)[FW8M<0`Y+25D_93V>4K[P'NXJ% MM41\K[.8'76<)D/!0I`VHRA/D()2=F43F/OV/7<5J+Y3EM;]#P7% M66K_HJGZ/DB&,89*JL=+?5PF3*0Y9%LA#%WJ+N-0(U6,@8[I?,9BRO0%U0*' M/OJ13F)M"]^=8AS=#%,C0(PK@R0[Y`D7MCI0.RI=6!S,T3&A3N,@F+4S)D6@ M2KDO1_[!E5,#CIVRN4;;.E=!SZ3U<=$P%ZP1M#O9(F&0W(Q%"IC2`'"V=?D= MSITO#SIV8;YP)KST^HF>P\E=TT+?1.(7ZIMIZ`)4I(-$G+,*PI8)O,)A,1_Z MF[]$(!^+LB0HD\[A&+XL@J8!>9/`<4=4:I"R2G2`*0M0E/D+0>MQ<-?(D5# MZ?VEB&"/8*NBV'(2@207W0V,:O\Q+[A)>);EEZ*`:K4(!$A`,/"8@L"QEDN4 M_>ID"3@9`F40>A;DG>;C9!L0I*7.6S(J/;5F;2;N2QB9T6$RC8&X1X!"_Z8E M9G8U^T:?.H>-+(<[C04/BRK18A5!2C]468<6.E[0?)Q,,?1);GH66GXG_#8A MY90J_U#F4@%X@3X2FTM_F7"P:-LMBT1*`QU&0Y^9'8L7R2AK6U>B."&:KWPT M(@(>,=?3GBD9O96F`=R%**^"T4@/$B-J95X4I"#HWB!*=H)7,[9/*5(%>@M4 M27*4OCG%QQ[W;X"4D*$H&7:L4[F0#(H414D`XG:J>:0*004^82-T>1KXEBY& M"+O\:AVENU/Y>0>$]%/WZ)@LV;7+!!@3U-QI/6M\LNA%C`)-=B,V!N=>$FF% M\*@3Y31KVXU5Y,6=442_R4(T,4CET)%FST2VG,?GE$]LJH9#N:W4B2;<507? M2!J18-A-1`%V"NIP21&-P&P)45F"J@%U+,H%>&R(0Z;W'W*F[/*&:^U"H[A@ M+OT^1::2+8L(BTAMXO4(S9?>FF!>BY=>[I#5S833C&YHJ)(A7?C\KSC&&^X=""V)IFIYT[CRT M&SB(XWD'K_=3WX6ZJ4?=BL>CZ.=:[[WACF>6T(D>9Y6P:P9/JKQS65N$' M['[/DP/_^JHC/D^Q\H+XK.$J5)BA$@HV\PYD>9,XF,)RF/WC)@P2WSE0Y&+; MG(]&O^AC.&H,.87:>[&BP7&&:QVK*1L@7AY!U(4D),((A`((,]U#I((OI)P5 M.S4`I$]]2J+EJW\;AX_85V+4=7:U&/P/20B'*`QS!%5<=+$W,9&DAL8?B*&_IE3N*G9# M&0H.2HEYJL1IP=&P1:=!<9I;]R1(1SV8(,`X[/2*/9<:AO46;ICKT]6D*A%. M;XWP-BQKDE:<`)?/?VM;?^+5/]9PDATU,)O!#:6'%<>PUC/@JA*%OPI"((A*LHG0=R+)LW+;A(4EYJ`'']IN%&&%KI MM%J";UFH;U;:%V^9,-["#^9&Q(NLA2PD5:];5J[4R_BVK'%PA_9=2\03R?*& M:8'&2(2T8.:7;(&**CNK)NSPB>AK*DH5BK924LD"H8NV4S2$JA"J`MI%6IJ( M$,*MSL.Q`(-2R&(7C=JLL^2JL-K\$(0XI`I=`?2<+52UM08/*8PG4]UR8? MN!?8VLLB/54E!/TKA)'%5VF*SG^X[-:CU9[Q*3-&9:?F9]#H7)J*.>N*:3T`;8QZ,4&&A3&]6-8QE M'&UND)V6E('%054>BO[6+Z`A$:[%#_>X\K-O`\4\GV@R#!V#3".EZZ;$*&UR+ MF>0BQP.)\YVJ;5Z/A/+J8+F:5%@A>_,REV*%@AX-(^GW%6GCF.D\E5F+D\"C0)#O,^(./FI\LGN:9GKW8-CMB M:'8[-%L0FB[LSW4H]^384*ZAW&=1[2)CF](Y'E!`G$YAG(5^>GU\!U#.#@!N MX?40'R.<(..$^0/G>>&\MZS<>%C!: M//U9$@>>>PMZ%F1&((*_SMY9J9Z$W>QW_[%9P*$A9T/.ST3._Y??(2%87YC] M`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`$/!D\*MWY7,.0&F/?2#0FYDH-9JN M4!:@AD6-6815%GV'>5BQXY9YLNNY+'^=X#@POS:NJ"X>)%C_.M_)(4JFL!#1 MO5V`(RJ1_GYV]H4F+>H:RZ@\*2#8C2V!E9E6&3O44($U.L,,.HF5+,XVP^X' MC.I-@4_A9F&()48U*G,""ZMUA]A"`]LJ@O##5KQ8-'T2./2G*+6GYE%=,V2M M'B(+CPI79O-1^?&TA6[10A0>[L8QC"KT7%MZ9R_6*][;T1W#O5\AM!(0ZA@*X5Y>*T_]QH0*DWO8M%W3L5D MW7NQ)PY'AG)]T3D.B\!BI#)U7Z:R\]RW73&9CN'$E_V5D0]^H?=>#]Y0RS8N M:D93*V(6!3CP3-1AYT[;RA>D"SD2'3):(F#X;P*CN\1<.J,LH2-X:V*Q4:R: M`/F.VF`Q..Z`*/()S.).9<'8K.L)"'P[;FDRJ]_!]0P.+8?-HN*1Z7X$%P++ MI49!R#49U62241&+G$ZN`SZ)TO"*9\1*56<6K!*%M?5!+(Q5]?VBM_4]+^(V M@")[,"-?1$!4K2I_>VQUU"]?^.(>BVRCQ.=Q$OI"FPL"1'D8%!GE8?%T6;(][2@P46I?5#R8,R# M$2L^4C_$.5MD_FP()D#6KF:,J6^P#FG69,<8[62%!LJ[U]3CZL5^!#.I6X`#($+>$!L0CHA8")$A!V^K)9QL%[CV;W<-4/8 M#R9L$M;8@2Q&=^4MF4@NROR)"Y(Z!J"BU(PCIX>R`E'UD)-/>D9Y*VOUBZRZ:^KKEQ/$T-D19,Z*L4OQ+E1!3'1?S0IS5>_0)H$)1*M)$636`$:N#H0_D MU`+P#N+@`/\K_0%X-PKJ@1](BTB:9L'E(Q)/$KI=:=A/LPXHJ*6O4+HTMN;QMQ$[046G)97';TMT3CE:E M3X=.#*L85X`1)7A!C/@5NO3EBYQSY0[=%N@:)+?@VOZ3*A%U=81H-9F^.OA9 M4#)G#D7D8RA%Y=5+==!833*KD&[1R$HZGE`PRM;&U'/:]:E3,LC5Q6;:SUZ^L&RZ7O];/YN[[1@`94B(<-B=<'/@B3_(BP; M."U$G(5@U52+SG:$RWA?7KMZ_T-_[S/G<-MTH?:._)9V5, M`T54@U#%L%6P@0/?Y][<]88+5K\C[MM1&$?DLKH7T?DJ_H/Y]DP^3J8Y6N6< M(B9:%H;8]@9F<08 MA7:'96KQM?\F;HS)/3!;0N*Q)3-]*'@#Z=H*IA3VU,*@.0S4$C=J/+V3&#$W ME"DU,B9,#B\>O`GQQLZ!1UOR'CM-&1FGJ3@1.4Q2OI$*Q0INI5=)!O33Q`I2 M-W]7IP(Y4@3,PYVNK&4E44)!=K0"H3/D%"VJ]H28R>`+PA%WT1&V0W>-B7#= M1V;.^5"E6Y1H=9$O@=RC1%`Z`'6@N``,L%CF_A5QI(B-TLP?8L24'0J9./VQ M=`V4&Y7=THLP2S`D/1]G:NP;P^HQNE3MJV]5$F.3&16+84 M_=DL0)04#+P@``O?!PD%R`Y=C$'.[FE3$42TDW&%H?\0)*$<$]C0P6]5R_E5H4RM*]M41"PMGR8]"%E^S^^<-%%@W MV]*$"M2('7/Y3NGU=LSN+<]E0]<3Z>1T8QU%7+M"09%KD^`4$0'X"AHI8.A@ MDA-E`\&B)S*6,\M>E64C]#3R*/!<1TAA%ZLJN+`+D4H`H+`#'%WFO(IJ&BJL M61HJ,3)'=AS%.$YQW!N-,&0?_P)S49E%?X/U$H'I(V1\FA,.V@%K>3`T_](0 MG6P"A0%$1@XY82Y$52PBF<(R,!*;AP(=0Q[?(?AD'BY"J5M=.!>.0C@LF53H M(NXSV@-"SQS,:J-F8(;G\][U92EGK2TON3#<(8SD*0%L;$\K_)`C#[DN5\/Z MV`4%':)%24],@\C-M*B8A,DOAEA&(Z,<2M(2T+>M?X,2%G,R3*ECZ3J14$.D M'';#T)"F@WG1HC`W#[T6%%D13,%X"/Q6#AHWRJHPY+T8FIN;TKT\]PL$W9-QB?"\>YM#CA:_+4N5%/,)(NLQ=MM.]HLTG0SB!]KOB#CP]"F,@5)PF M;(*LT$WIDJQ+P7.B0%&A^)`"D2!JD2.2RE>*>/U`QO//OR?G`<`Q%R!5`OE" M(70#E":0$M=CINB$.5*ZD7LPPN]15.842V4BQ/5S MA-J2ID'*#U%:VHM9\5T`"^!3$?V"-A1QM;`8Z6+5X0?:9^UR%3\MF;8P4?0, M!!/*K\2+Q6D=6$@4JE(V*DO-H)D$3'-+D>7$?3YR<[>Z9RMD7?:D$GHM$:** MDR^;P9!FG9BW.L)MX8S_&33,)ZK#`)KW:@S6KKDAKCFU58@?D;H\15W1F%*! MA=VBG$W;FX[!;5PIO0T*XGBD0J2&26J;82O'.Y99Z\PXY60'BP M-H244QI@=1"78H^*IRQ#A#3[R`3=V=Q4OM)5FZJF]A?I8/.`7+D]>)-.-@+! MM')%K;3ZA/!.9"<%>.]`;.8MSUCY]14LYS,,:YV\J9:>-7*O+OA9T+*75!,2 MX[%"/L8JDR#[I'?]-6K?-Z7%XXWZK1L95DC]8MG6@$C/SI&>/`V]1I'\1IVY MR,,.:L&7?@)[9A&DGG!AD.=3>(,I\5L[Y5R3;V&"-6UP]*SHUK+WI6-UY`D/ M,,/S5\2GC"HAI/6D22&A2!\'GL/#2`NAR"(;%KWY0^918$4TYM+E!*=2L4+4 MOZ4HJ9;`KQ`E5937GD(6O7SQ0*%_SJ*Q]0'])!]]"O6I15L+(]Y7,65UN)(H M;(0M/:G&1EY\XV6=?LCR,2=-N.C(;^<$GL=""MI#[W>68[9X.$AC5T,]8B]+ M.5LHVAV5G#**!\)ZAB)I(R?$]8O8D;P@36_U\M*;SA;H9#]I#WKT^U'[J&-= MW7''!13]*PQ\1G4YX4!!P+\GX.<.(6LI]WKIX`.CM<&]!FIL=OKM8^%G.AV3]NG_96+KBT=MCJG M1^W.D745)#'P&:@($/;?@D>1X+/1&@!STN[T-@)F.9EMB9Y:W=Y1^T3R.Z'\ MN+_6*NM*5_U.^_C$NF;N'<`F8:DA1?6[[>[Q^F#LEI848D][JU=40#=5.[M6 MQTRNZ$FB.B>MA:/K!XQ)_[>*2?^01@U^S+)(*G^0->'`=7(P?:/2639(YO+\ M"!$#C&6[LCA6/:\)?Q41)6XLDIR8C9V!94A8&KJKYZ1]*!PIRSNUX8C=4C$M M*I-5E(!-OU1Q5K*\5HC)63(Q1$8P4Z`N=?#*EW/1DS\RV:L*],G2S*+O,5RO$($:T;\"0Q]]ZT\V MDZ<SJ7:X>C,R0+7S]KREEZ^KOGUW] ME7O]<]"FY1QT3EMZ7'[*'5_U_CSG^0+CYVE!R]?7P=2UK:/.T1MM>(UYLJ"# M_&+4Y/E>KMH/%@,^=$1<0]HMHJQF)<5-3CW8.(SRX&&04&4%!]89SBP\5&)_ MR'S]2]FH%!0-$DRG@>HYI#U";8E$68B[;(6$:9$HXT6!PA(>`,>(=4>9+5B3`7Z]@3?3 MJ!<38043]G<0%@71BC3RJ1MG MZ2=DC4QP+[+L&I6-DN*6"AFU+*I+GT918;'1-$L5#L%\)B*;X$3M\##+JB*, M,CM-3)6E-IAJ4J6L,#K`WK+0)=-)C<,4Q0YS%<2''"\WK'QS4W&!#(=I65DD MA<,-[62"$5!`/UAC5;8FQ0:[M+J4+42FNB!(B[N$31!@89!Y6C".GNZFLPON M`QE)I"4,L+0'% MEB/*MZ,;+)QJQF-LOR:C!?2-%#T-4D-;9CF(]K4@0!0N0;@:=)3<@471+",6$,F:`4%/#!'FDR##Y M(K*'4MF>J>"KC&8/K-\#Y`HP7$!F`OK>IP2,[_RE=XF6&9,@.DF.SG(U3,YD M.@1(HG,2S:)^$LN//V_PD#TSIUQE0A9F1PKS;*$7%OR>I9N(10%%,-&_\/]$ MY!Y')9(FJN*)_Y8R.JGM=RRZ,F,&F1ME76``,TZ0#.,,3FH(./L_"'D*G9V# M[B80A5T).I(`6LTGE0DS"H+8QS!273J($CBHI+(<,)7#F:%"A79S@Z8.UM$B'1(R M%UM4EB"5--F&6$6H,(_6EWG$64=O(@^:M22C62!0<$T;CA8:D4C0$4/16`4" M9\G;JJ>/WD@3,XAO>=J_'H?^X0=WU*%>:Y6.WPDG4*ROAZ.BDA-&4\ MN6#+PCE+-/8;R7-3(4RN+Z2(9J46+7^"=T8N7G<-/?=&7';)7J7]-P7KE`3L M`9&[XL9LB_C")J5E,R)]P\&0;LQPW0#PC<8>#Z+J!ZQQE(5'='IQ982O(MXY[ MBY_^^3:)#FX8F_Y\E=)@G+E&O@38&)Y'UV";O/,"^\=O+U_\4[VAJE%(AT=F M**1/$\;APU<^^O75N?C[^]&?%]\[W>]_,/\[GGFN.YWOXO_7E]_[G>]_)'/? MO_HM9PG.6W)D5(W8Q/5F/Z\V"H4)!N=&84RF-AD,G5ED]!T=/]$.S'TKKJ&S M+\NL0\_U^<%X[N$@G(Z!\G^V6!('1?[>8JMTE5E98(FNL"E++-&5M@5+OHOWI6[2%KD76 MJAQ[:R&U_J=N^Q3[8WK*(_I3O]U17^0#K5JY\D,%S:?TR@=T`)ME&['8LDIZ M=$<(`DZ,WNX,%NDIA:%B1N8P++2;7VBG/5AGH;Q\?U3K+9\7KJ"DCTAF0ZRV M"'3[X4K+W;F@?!U,K31FQ)[H'&5&#-J:@5!@4.25TS`M9%^0]26H:-_LC0)M M5E5R,-9&'?9G,5M-Y,\3VRV/[S#[6(5]S/X1@8Z&[2JT.>5&_OOL2GUY-#D8 M@ZH`M"74H,7O>6B3IS.M#(U69Q+:8RQ&=]*AOG`E]3NR&M(87^!A9`56Y5!C M:A<2=%6?^?K5(F3##-'(X^BT==3O:7.)V])LOO9^$&"5J&V^2'T9"1HA4569 M7J:;OX3J8&?4<[VVTK!:-79CF=--!OR`8O181,ILFO+;0F4Q<8F$M5W3N\XK MV`S8IG?6E[G7J-Q9)"\THY\-"523!`R35GZ'E")\[V*,#48^DX=7^:SQ^GA. M*9I=K-XN&CZK^`ZA:I,NUWPER*4JCL(P/'D%`K"Z&*Z#X64J,$T;#3@ZSDIFY5T44'85C9($R*^M88J05!6I1HPR1XZ#'X:T! M])A[CNP2-]F3:Z7$\53%0"A>ME#-C"2)`H$"6NJ7_%?1=&F_NIA1K:\S!P6S<\I&>Z M)8,PA1F1'0_4]+IU(X:?/^M3)E2(OY`UX@@S0PFES$19.K9N<;0P:J/3Z5)( M"#4#$P6PEUD8,8:!ZUZ'O>6F:@M`8V-48S=6VQC_#C!8SJBGBC.4L2CJQV.; M>PU2C_MM(&NDK:D7S!R$5)]%3"QKS;142GSN::I?1X&<1Q,,NT5.TLM\3ELQT[9>P\FX.)M7V"30GK> M;%CX'L74A>T`X14*W%.G%6_98F?ED>]$XVC(LM%,6 MT@X/7]$A8/BB'O`8OG@JU:(?FV5<2_[$C7$PEUJS]^5:"2OH:IHISC8+]5/V M"105'?5#ZRVN9W]UUMLX7-O&M(9`!#$R\/=K+=PV(JLK=JX?*3@^7]M MF_/1J$CTU$4P+V)LP>P8*&HJNQ&JOPE2"O(:!+FQJ3(H-52P[JK'ZZ/5'RX> M#-(69-])?VWC;U`GT^_A1%(;"!\C/O9T;YL#ML;"(LQB#V`V;&P4FK$"=B)" M.JW3HYX1(7.GL[=T$8N?M"+[ZY:\S=793W^^')T'$^P=2QEV7T5UX7/LR$;> MO7?8K.2+K#*<#K7%ZKFR:4`%>C--*]<=]?"!96P/:->I$>P7KH5\A'VVXM*&W*K M--Y;^!%^4*4X,)!W*GJZW&#I2!$$R"=3+YAQW`K'#6'<()3ME4#RNJH)9.)A MMY>H;7WT+50J,@TY#5K6FR@B/V$RKIL&&JH6D%=WW'&C<38G=D%*FU;A`GM' MAU0MTYU,X%'XTILI,-3:]=J:68BR-G&N%UHN;)F)MDM9;4U7-/WY:=`&!&,E M?A'/+!HHW4_=D,_#>-*V_J*&JP@+]RV/W,.02_; M+U*3,UGN7H2IB:KW)X>MPTZG;9W)7EJ@'($[M"(MH@4P?'BO*"E/$6P8!>$0 M)Z;(\RBM7BI`S<+B1)N@8>`GD4SCCG0,PXRJH2=16P-E=>.LUS1DD$0`0_3F9R,,-U476XB6:T*LG$3& M6M%R\MD'Q,L5O;DA52Z_5,Z3QDX7\D0A`"6098$!1U+;HP+7%7>IY2FO[I5> M;^CV5&8AU:*3JSGSKOY4(D_<1H#5E3!%9--<)%&3$%V9A51NQP<-171E%E*Y M'3<\OF\[7F$>W\QT6!5,M07@)/I/1*388IA3.91?1+]&3,GGY"A"GX;6W6^[ MFU`0S/B4-)Z;?A,L_;2;=8A`UL7;L24K.3VM"$J>9(\,B3R$1'H504ED8UF[*Q+I;DPB_=Z.:.10)`$;*FD$E1QU*H*37=IB6D;-ELWH55!=,8^+ MV\H)"W_PM);HUO#]O*>(YV+\C6C\Z*AY"##;OG+;C\VV-P3JC;:]>[QENZ<* M&##[OG+?>X?=2F*@\NHZ]+:, MLZ?SFSXQASTM8%MV=6V!MO?J%L#0\A8!ZQYO^0;+4+.AYF>CYM[QB:%F0\T- MH>:3SI;OFG=+S97W>"Y+W"L`]9I"]5>E">R6J5]>;3L"&?)_1?&@- MMAUFO$L"SAT#LIH1%:*;63E;D_5]O:/3Y&/-Y3U954`MKL!N6C>BM@Q M*R*,ZVS4K`R_?&(3I]/?LN=^14RGL7]L#3_Z#O^=1+$[FM6^R`?6GPD+ M-6E:@"44)=.PG,M<31K7\[`,C?9.X%O,PI@79'`J)0>J)W(CD3_OS2SJM%I0 MY24`S45U7K+%8/4@_.\4MB)P6H@$S-'"5JKW5#DI`@UZ:LTX"Z-V'3:].KMN M*H&MPQ=E%;KTZQIVQT*'"@R!U64G@E.2B)H'8ETE5&8'5_8XP'!W6:4)RSSA M`Y/`X5[+XK=UGQB9(19;TON1P:.+^B4^C&MQKCAEKQ#^"PNB'Q63.>YHA#6U@.K=$=B3?@RC4 M3FAP(,L1=VD)H2Q1-5]TS<4="5ULY$S(@,V*@Q#M;:QJQ5#ZJ5)7Z=)$DL,T MB.(#A7'Q#&:86J*@EQ"%0SYFMVX0ME!(WL&!%?^;KE/]BI,$6HN:W#:$;O3C M`(E!@`#K%50:B!I:?[6OX#EL(9V$,WHDPO):7&#+24)%MG80PIY-`S&%$,!: MS:X<`K4]FI]/PX_VE&Q+K>TSC8B5]9@H8F<'B0?G`&JLH^I_">I0&WU'3\AM MSG@A2MES<>]\($%X4U*9@"D2K;7E?"R)UNI12T`ET81%"$F6(3?C'#S(;-@QNW4A4P71E<4D>(MDQV#ZJ9^C* MPI)8PM&?*;!(&:A1Z#=`S:+\%RL092*5"`8]"#]@(6/71_0#2]PBL(R*=Q:B M%\97V&U;9SB3D-7ZA)M1E>V!M@<;0M3#3$D67DBH4.,VI>'+%T8>[I$\1%S@ MVPH=\XLZZ+2[:2/%]YEQLV[=WI80(EA75E8?%X?/6UGP]#,/?#!TK8^^W1:% M?D5KP(^I0/X",L=ZC<^JRK:]#OF5Z9?TN^XO;Z3$!JL!#&DT8V#F7J=S9(F" MYZO'A$?GQU3U;DDBJTD!M%:WTR'QG-7@S86C?8 M@3Y0;@KNS@E;*8T*A8/\#21@,(*S!<=2LYJ6@4$/4B,Z7]/N7/93L""0/1!'$SE@_(+=6&5H6'1/3T^LSV")7`H315IVE\*Z*33!Z)5Y$TRYJT1'`G(&D=P% M>^WDP7?Z:^[NUO:SCAM8;CO_@K:;0?TN45]R$C*WVH^R+JII9U3(R/W&Q943 M&K*PTN*3Y*)3L,@>WI6MF_[3H\BO>I,FH,4MD&ON+JV^3N3(74:8QBS@6:T<$XR<2DTWZ!,7J^Y$?E7 M`>1X;`VY%]P9KY')SC#9&?N7G?$YF0SQ&GXD-6-D769WR)L`_O)%C?:@,@NI M%C%\HV[2H$S.@(W9#;5#;+IGO:75[:6^,VO-#\@_D):O>N M.-_N,(6E@!_0OZ+:..Z>M06='Q<H'[5WUNFAPA?IR M&'X7(1C;Q6@5JB(\[QI6DO'A*<4B-0\+9N]7]]AH'U:S%'WES+Z-;=H+X3M\ M*Y-:MBW8*GG.,74AMPC8ZWZKMWNQO#$=O3%T;.AXH_JF1^U>K:I/5\QBWK"& MP;S;0;]4WRWK[F<9LBKS[6/@ZK5ZIT?/H8%,4;UGI.:&%=4;M`<[/]^8&C.5 MN+4U<019K`R[N0GY#=4?\./0]2/7SB?3IL)]+C\J'H/)@#E:6KIIBY)?,0XA M5_]!9-86I[*P2"\2X\VLG_H#]#&9Q/N](>J7+[:+HP\RL7W=Y#]Z!/X8M#"S M"NLCA?C,3YUVSYJXGH<1,_@(?'$R_T4__T6W/5!?M#!]<"J*J&`BETC<+*H] MD19LPD6K[/'YTAAZ*N=\$OVR5'W*('-X9(?N$!D3<_9%/F:^*,W2.AG(I0^L MF".Y'A]V9*$6D7]?$)=4+9ZOD*!N(M=O%T-:SN^J3-^[+(4WU66!-4U">PR4 M;QTNY%O+[.,LYUJOM$%\7S3.Z3K#C/#+"B*$KSD6HK*BRD-5&`VX3T=^DQ(%TA>:< M5^/5BK"M$&+K$&,['ZJZ(NUDFY&U12Z)M(CST6"CK$4]=&3SMTY.YB-.9,AB M>0+'?'2O,M#G)3?-7II),N=KU]>X$HBUH7RB4,SU<;6TV/GSX.IA=R)KWKNO MC9@SW\PX7ROGCNB%NO MJ>[NFVJ@!]BC8QU8@W9_,RK>%25]3>MPN@@)NJJPVF8UD-5I#X[_`=CJM@?= M?U2)KK+2F]5`U-$)HNFXMPF2*N4XKY(Q9HQ4Y5=.70305\SZ@(%]7[).\+C.6&HH9=.\V26BP%E\L> M5KC8*2B-NL0=):NCYN9IRX3IXK*ML=ILX4"750U%*5&Y+E',7,`_ M8??N))F((MZT)0I*JL^],'DKW8Q;!HA*(BI%RCR/:I&NP.I:&"HK(%M2:[$0 M0]62!+WJB`(ZL11(S6'E-$QU;O=2E'FR7,^ZW-+4!:AM>_ISIX-U.S@/Y!&'!3Q>*_6RY/I=S MYPW-3JXN;AM!SK*Z@6Y0-0_9E5E(Q7:]KC4MFK&0:A-#<9?AK&/Q.8P:@FV, MUTV?W%&%J:5RJ;!9)]%O]_F&K<]S?$Q35C62J5/)DL",V MWF;)D[VLB[-SN;(YM73:ISL2*7M9(*>P$GGZERF?\SPE5`Z:![_9=;/K9M=K ML^N5.R`^5(6IDDDV1FAXGE%F3T[@KT^>N1;&35UDV]&ND\=;AZK0' M6VZK4_^:K3H$V.S8'.$K"W$?A>+3RWSZ'CA M"*?R-C#7^XNLL5@&?'WG4W4&FVI;>G`]T?^KYST;KWW5-Z4*F3L@4?XD?D[+U]L(8/G(U:&*;HR?:_J=C5O#RJSD&HET<&5U2QIZ&HKLQ"JK7G%`,J*GI56^Z;\X59N5EY!TCZ*/;WG:*1&6YQV1!/SH+NGNT_92:RN+'T,NCZ45IG\H46MBZ>?94"?/O MN4U=N/"&J&-=R/95.[*_JA!_4HE@D262L/>VOP.[ZOE,J6KO^>X#W):92$<[ MCZ9\>NQ7>[\KP>.]SC-G$)N]?W;YOO,XU*,C::1LSYBDWVQ1':`S4&VW\<]=!,5O_ M[`+^J$E6S%.Y7/YDH3TN"N(B"^:CC\V?,N/%N&">FKC[;T^?WG@QILMS['2[ M:SPP#8%ZLXT?G+9.=Y_+;/:^BGLOQ'NC3)>GJTYIC)=J4_?@[;$Q7HSQ4EMB MK_9^5X+%^X-6U_A=F@+U0Z1[HVR7IW.[T!W1P#J[X7YL[H:>B80/WW8/D88' M%:+A!N_Y/SXT-T,UA/KEBZU$N'2EA#_OCH7?W\_^O/B>Z?[_0_F?T?#_KK3^2[^?WWY MO=_Y_D!DWU9 M1AZ>Z_.#\=S#03@=`\'];+$D#O+2'4SK,"ZBOV(Z745J!=2Y@LY*J%/GH3PI M'K4MC1BH9U6.'(H(=,\VLAK;5M3[8$ZJP!]N@7AQT]W;[WVL!T.FN_@1ECOQ MW1B8D-CR]X3A$9Y+GC2[6J4]+.?.@L8@9H>JM$/?N#5FM]QB-R'G#G;Z<`7G MC6869_886WD$28BM'.TD=N')8#1R;1X*MG3BSI#PIQ7R*/%B'#T>IV/B&VI$W.-;?!S&BQ)8B,T0)_&L M;5W#&[!/$_6V6K%KB\K$4Z".P+%\\=<20S,<^$ MW;N39&)-@QA@^YX))PIVV]7^#.\!EV,*AQ39E&-<635NA]D7_ MWG/9T/4`:3`E&+4,]@$@\5Q[!BMAL16-:;W$#F!.FF@8A+2\# M5<`>`<@NK.XLOY%()@O3T%CLAA,(0^ZY``]M"8\`R6BY6R/FAM8M\Q(N-W0E MAB:N[^+I"<$FM/A!"BHJ#`0A='#H0*%<&Z"@/PV-E-8CZW?IVT';"*UJ"BVC M5JJ^0Z!6J%8],+*F4E(!'0:W+A9;CJ181-&A<>B=&X/B`<8%E0)'?>8C4X,> M(%$>.JZ/17=`U(81B8QA`GJ%1["!\6R*UU3>3`RA?@!Y%<8^R,86'>9#1@(4 M/B11'$R4+O/@7T`V3M2V_M*$M;98$&%P,`1YAC-D>I+$4."A+`HG'LZ7TTH@ MAW#^&4DC+X@B`"9*1B..ZB%`%)&.!+4Q*WF1+0I:`,&]%=(N`/V`2A(@`249 M(2$7J-B%47-*3QLN5539CI`J+)#*&FJ"$>A'!,5+G(4'42)[#(_50L%,86DP MK/QMPN`-@#V1&Q_R&Q9*4R3FG@?J+@%A#Y.!8@=LD+LT6F--V5Z!4KI%VP6M M!J`>I=402`+7FY%ADH/W:52_MMR\ZE>&F1_$&86@P@QQ)3:ZNW`"AX\XT>Y= ME+C"YHI`W(`VMSWF3B3FQ6)6J=:<1M]081=7/&?`[\`^!2D$$H)B]\>)YS^OL]2`$ MJCNQ\9TV2*!>^E9:BG)`RJ]+RI8L<-"K9(,SWSKSF1<0S[IP0-=9]TQI;V&! MP;,<[%.;_#T.Z'Q2N-> M\WM0WQ]]`#,1ML)K[?WKC[DWIF#>)[#?:+D`OFUX_2-9A#>`'#L^9 ML<4&8PK_=.HIB^)JRFVT+V`UZ8CG;FB#$95;U-G5Q_/S"-(T`H_!JC`61S/^**+_NZX'[Y`B@B$]TZE)^_7A0!210A M3,TAWJH";%8T=J=B[W*+>^S:`5^P"&O$B=9^ZK0[)^C'`XL8-@0-0^6,Q#%' M;AB!&0XF(`@9#[<3'XL$NM$8Q/<7/-^VWB>$#UKY&%9)(T3N MO34!EAQ'@#0T3A`O-(R1!`!X?H^WVGS.9%_`(!K8\J"%O(UT[B1VC&-R+)$B'+/:#LJ3,QQ] M'1S?P;\H'IIF`4$7\W1'D67$N4Q0MDY-N,9%RLC.BW*AZ5$`K'T@'`[GPA!W M#T\UU^,P2&[&>6P22=`I$$X&Z9%J8=P4`<:RKZ@B,I9]U7?H$K5@Z'I6[Y!X MKU]H*&"<&,H`K&?]*)LA/90?T6R]8INAM]1F^%AL"9`*2?FP5/NCYMH[XR84O&NIX=[:BUA3"_<.5VGA^"XHU*H:8C4UX'$"@#QCZ)<5 MJ@O>;5DS'J/\5TI0>TFXAY8ICS%S5BJ07J$"R0+,-HL*T^/)KO@-OO:5TX69 M?V."R/;*37+7I\EJ1'I,4`XS-,?OY-W=>=_:,>5/U+5J( M9L&C84CBF`(;(L%N+6D]P/D)KQ5#EW2I4&9Q@#$F,;?'/FSBS4RJ>#P8JEO$ MMG4&^E+>OT7,XUE\R<;G1E!:(4ZJ74&"FJ#SF#RM_=6^:K>LBP3-&'KM+')9 MV[H4T\>4UP8JE,=`0,>#?]`C)X?_$`./N9<;:/U;D_FC*2U8#M\=S`U_=<=A M"_*O[._AK-K:RLBN:NQ&J>Q"@WD4>%YP1]XH$ESRHAPQC_Z=6^XGL`UP)+GA M`9Q[IB#.\+H<;>^'BZ+7)"B")()OHC<_[RU]U))_I8(3>Y0V$3TZ+H=A_?2@ MS;:X`':9B`BDX[%I!"A3?^60MBIYR++A5"\'_O551WR6N6SX.47%JG3U[,E< M/N-ZV6]%[SV8?(LW?8%)"JEYLUTI+@G0.#!UGK;)G;63^B&OD(*!%/U?7QU) MH8W25I>R]T'J+S^5$;RFZE]=OJ/PN-(ZJ#/-4CGD&^\D\,NO:J#G#J4_+ MJ3W"X1D%ONXGZ]603`PW[)0;OO`0IV,WW'!$/>`Q'%$3_?#R1241VSA",?Q@ M-$1%CBNK*I[GT2;WY*1[J#E/*X^MQ2)H!-IGW:L_@C>SZ\`,M?(:[PR^!>Q% MI02EJ/6H3HA95^+4$KB27?]I)92#7FW!%+7L1-W;UN'A\5[L:%,)N-'`/7XO MF\&FAT=[L:__6`EEK2R*36FU5L`]7'%V:PNFQI']P\Y>[&=3R;?1P&U!;3:# M24_W8E_GU>8C3_9:>X@&N)36.LECH"S&[M;>F]9H[^!&DJR6$&JRJW=4;O/7 M$K9&[E[3X&G^CI5ZPLKM^5J"MLZINBZ`U9<&U^J9NU=\=K@DMK:6L#5R]YH& M3_-WK(S?CKK-`FUGQ]XE%]KU1=2R()(5YV&1UEI_XGE<&,T.&]Q6'W4/%IH& M:XN"^/2P7XJOF@<:[8%V-5+$2)$J2)%^8Y.K&NN],++#R(Y*R(Z#/1,=QOXP MW&!DB)$A%7(RK8BMT"`J:@3>>*FV"9`;<^>@E#>=(!EZO/:T6AY[:7"U&%_1 M.CXNC[`H(LQZ@EPE<^CE"R,Z:DL;!FD%,2/E02--E"`-],48L6$LCB>2%B=' MZU>5:X*T>'Y[PXB-Y\:;L3:,M;$#U\M;*JFK/IGZQQ6I?^RI7I5Y_B[HF&%* M(IN2R*;VT;-5=;V:*SN?QZDIB%QGFC*L4S'6:6S$CBF';/BT@GQJRB'7D$P, M-YABEWO.$2]?2(C@#\,51D<8CC`ZPNB(:AY83$%D4Q!YKTJN[DM!Y'ZKMT9E MQR;L:%,)N-'`F8+(`N`EH31-VE=3$+D^P.UY0>1NJ],]V8L=;2H!-QHX4Q)9 M`'Q8?AO9I'TU)9%-2>2FND&;'VU=9O0?E]=SKR5LC=R]IL'3_!TK->G+"Y8] M'VBJ^Z@$#C[N;3);H^EPKSCMI&^*_5;A1GN@7XT<,7*D"G*DU]LS(5)_[X61'49V5$-V-#:W MV1@@AAV,$'F:@\R>R1!3%_DII9HI-V:J%);BZN4+]=SC#@\1:G7YYJ$43 M:XT9X=$@AJB\/=10I)E:A49L[#<'[(W-L>U;H),EH9U-E!?&WC#,8.P-8V_L MM#;R/]\FT<$-8].?K_C-A/OQ5SX-PAAP\=Z-;"^(DI!?P_#OO,#^\=O+%_]4 MCU^PT(>GHB\\O!HS[2'+AK7#AZ]\].NK<_'W]Z,_+[YWNM__8/YW+!1ZW>E\ M%_^_OOS>[WS_(YG[_M5ON$Q3M+EB19M/VD0]\P6[78V]G:.\=N_0]0L5C-FBJFQ1ND/O6.3:@.+8\A1SV<%D$OA6 MA#P&0X=472<>AYQ;S`=--U>4ULJ5;J9'L!"M=<P0[@"-Z`7\&NQ0S``N^4ANX$7D\D0UAB,Q/HB_$LM.$:M$20Q MH-_'F=K6>]>CZ8MACP.G16-U MN^F"Y)]2H+A1E%#;BF0*TX`E#)(GHAE'UC3D(QZ&W%'"!D09O[>]!(4QA9'C MK(X4?5S:UR3^A-RSF6\8)HH-=GL39>.;]5V\73O\>[LZN.Y=?;YO?7^XZ>_KB_> MSUV)X-#9[I9*@X<:#MI[\USTD#&>^KV=KWGG1?Z[W=,M%(I4D;R*?K,8WZ?6 M7]]*'>T9CG4/?LZ77KII]2S2_#@UGX/9Y-`\OHBYP6%!99M.:W!:'DN7H\&: M6TY[5IYY2]+GT'#.=BI!&QP6=$\Y;?7ZY54C688K#1S^+(,] MZN\Q,;'1VV0NDU2Q@2Q^W6T=GZY?%J<)4=$-O/HT`L,(C*<2&/W6R?'Z?O8F M"HQ=5TM]/L_J8_/02D;2R.=9%_7\*WA&M)BCQ>9'"RUNZ@!P@@'W&$\I(S2- M'6%TH[$C'FI'=-J=_38CC+RH(@^D=ZH9YN`K(S,J(C,VJ`/>1)E1F,&-GYJ: MGE&[1.D]2S^KW?[D=L7DRYA\&9,O8\*/MY$OR96J5>5+'-=K%JIM,F269,L?' MZ]%@S:TFDREC,F6>A&Q>OBC,E8&O#1X+LF5.6H,8$1&`\3&,>MDY/]3J\SV3*53@LQ:#%'"Y,M8^P( M8T=4#EOLM+U;T.BQM7JAW.+Q*AA'_;\+]^.(6^]*8 M#H?-3@RAB*+3=B:>K8P"+$$"\NJL4&E/=N^<6O,L/'4 M+?,2AL%14<9WG/@.VQ@&R]2ORW*$^(H M^6']$<8SX1;`? M.+5OL8B>3B(<7#[,;.QSR/P9=3?$-[6V7%KGWC)%I6NS\W2]`,X7^,N>[4*A M.>[M`H"L(8S5;Y0AGGD,?FYM70-ZK.**8O%=EW^5%$OSAXA]?0A=H M9>J)_I.Y?:'==5-AM4QL/0ZIV3_$AP]"L7BS&DA>E7?['"18(?Q<"]&U0F"1 M0!QR[F.KPBD+A2!"(10Z\#2'M<1CZZ_V5=OZ_>SL"TE:(&5L8)B*JT0VD/$'D^AJ$\%A9`\,]IP3#*:LY)?%9XKBQ4/)%ZG[(/.*':,QY M;('=L-AT,UYG'-U8&%G!E( MT]!6RM1!$LZQX3B(R.C"7TJYN95R_S6WQSX0Q`U\:YV]LUY?W7%`Q)OLB;,) MT!`L40B*URAG\!7<+70$PC(!#K*L#. MIHC6PA7\*P@YLS[%#HQR%20@X>B;-P1P"@AS[V`EXBGQX8V1,$;"/%#";"I? MWG.;4YY(O]L27=KW@$5S#%C&I6U+H[*50O$+J2>@:(X0KR$2813P^RD:&^@'L^,$%@D(2+P8 M51->2#@N0!E:(R!C'`XT>HJ5MG4%-...0"7CS4:*+&D1M*QA`JL+Z>+!0F\9 MKB(.6E1.#C`GUCHCH)7A$,)IP[W%6_.6].N-75@LX@R?0\LAAMG0R`%.@SF! M,`6L`)$3(`=P&Y=D!<._80Z7+G=<(![0[*\%4Y_T>IU?_GUU>9%^[/[R!DT\":(D_$S3<(IF#`YC.GW,J_QEH4#=D+`6O8,F!WX%";99P#:;.K&P&/_ M`Q1,PP"7!FB(U+X%_LV!!VMUY&X*X,6E%$[%/##)Z%P6;'S^Q> MIP2ZK,K`(8,QLQ;O&*R9V`%H&BDTP$A3L%0.ADS8G1,DBGEG9F;MY*T8M&]\ ML,(S1V*Y9M9/CB3HU@F/&)(J+"(+ M8Q?51^L:NZCJ.T3\)=UX$>G?"7/]F%%(`M@JB+@@B>`1_T>DKOO1"&J)(W1+ MN+=:RO&,"D.<@L%$B-5^.6!61'BQ-N9@)9`AE=DYK@^J(9:G:&T&6,F,"IUR MH:&$28)"`=Y(0I((H!U17SO6<):]]P&F1RW[7LP*IW7U^#EL6B"$2PLWPAZK M$2*9"2!7:@F5?".O$LD>B:QDBIKTI]YAIP742GD$Z*,(VQ::EPBV"]B\P5=] M,D+2P;,5IP.+P;H=,=9%$@8TH)V`;IW`'\)1`P]'&?I<4NY6/)L*0T-90F(! MM"%H=&VX`EP`+>(_>*.JK4$,*SR:2Y&YQC2'V33?@J)ISDGNK]@UQ("DM-53 M]M,9Y2OOL3)Q.#?W&6%R[F+I#D-]@`&F,,L]V2W>##:^?8R&I"<7@K0917F" M%)22,X,>8NSH3J"OJ94;78?,X6>^$4@EGJ\]'["&%L5VO3Y@"AC>E5[O\IWZ%*_ M`PDU5@VY\/V0`>;S&'Y$9P#]2"?TMH7O3H5$=R/4=6E`>VF^!_03*.4H1_[!E;/+L:9L1BZIMG4.']U8F4:X:)@+U@@F M$!EL(@Z6H9Y6:C+DMRZ_P[E%>*RR`,)'#<$<6T M(HBV#C`L!K%RDX!!`::!"@F6_KQYCQ4B-4;=K>]S:G4+-PHZ;M"7,L0X,7GZ M'3$;$!,1Y/2S7*WR176/?XD4#:67\4,.H\"P4Q;%EI,()+GHAL(%.H"'X":1 MAFT.!;#9:3RR^(4E$1#;1S!P8J2S^6CE/`+!,(*Y\6H2H4/*P:``Q%RV`0'0 MQXVTOZ,$-I>E)K_-Q`4@H[-&F$QC(&X10MT2,[N:$:A/G<.&O.HD$A"N2=C( M;`%D6Q)V0QG4C-P1XD\RVMJ=3#%^3V[Z,(D`WB@B)**G+@2NM%*_8>9J`WB! M/A*;2S^J<+QIVPT/:*<8&`U]J78L7B3+M6U=C0I03.&7&]BE%VCPDYA*HDN0H?;:*CSWN MWP`I(4.!BI`+3$U6D@R*%(D=!;=C@KKB%-P/Q$;H\C1Z,UV,$';YU3K*=DGE MYQT0TD_=HV,R]]FB24\S+T2G%+HKMVEO9\[.+\*/&WWTOPB!:-R;^V>9*R)` M"2;)P%C85;/8UK:P%[;7G)NJNZOE^Z@SI3)6\4H6U)2X/(WH-Y5^!1(_=*2= M-YD"OJ2MICRE4S4<*BJE/S5M=DWWHO(Z#W5C"`9Z"+LMPK)^.FX=RC4/JSQIYYT^:UM`^`%+&(0;W^]68'G;I7FUGUU\`28,?'L"^`Q M!L/A0NV(T?9[J>V)&(CN4DHPJJ%JJL&XU.JU7TM5><9QF3;,>]10';;(KR9N MT)))(H[3#I^"-G)E$(U/05!A[/Y/1+;@Q53YST*]@@+'&F(6.@W$X1C@8(CI M`\2Z->'Q.'#D\3J9XK$W]<\E$<<3+0;VI-XI%:.#Q@2>-:.?#>55D_*,;*C\ M#L%N)'J$=9[E:-L2HXPKO($E+":Z(Q,\L$O4F^[57-N!T\$2DW']-*A';GF% MFR?'P?1A/:\&QP5[IO5XF#.0$2=U*Y`GXJ2$:@\SJX*($`?*ZG>5][W8%S3U MK1EG8;0,-VN5K"VAQ])ZM>L@]D,2^FZ,(?%@O!4%.XS<>_RYO/=$;LS%S:S_ M]AUNM'U9P3JC*.N@*,T.566'4F<0IHW88W$J7([003!)@-E@9TY3+K ML435#7-]"H2106#BK1'&7F1%_(KK!^3+![2M/S'0C/MTF8/#8TZE&\KKI3$@ M1J2;R41!$=\CKLX*@RW6O3#1+UD^3G!*?.@R?.]&TP#P>CGZ%/@WGS`K[HR< M9N;"9?\N7#YEF9&"",Q=2]7DI;EKJ==^+:V&BQ9E%)&&<5.9C*E8T@Y-(WT3 M.G:GY6(T315%`>HVE%V*$QN:2#K!G1F#XL2N$'H`GX8UJA)YZ4(3,Q8(W4G5:$( M`M%P(RSN=%JMAG=9&M*0>YC3+BKQ4IBC'\R-B.$4"TGA%/Q!H/L8E0LO84D" M2E)J6>/@#@W]E@CCA>W^P6.J).2*+#R*),5$?`##O^%DNR2CD6N[.*7#)Q16 MC2&T&(<>!DYB2VL#^.O6Q:!F&D(4'DC4X4)6"1"!N;C5>3@68%"6B=C%0OOA M(;:`;DM\"$+@3O\<+10?GM'*=X(U0A\]8?H8@V+_#`I)'98B#TLC"")WC5ZL MW\G(QF\_D95MC(^J*3-C?-1KOQ9W*%?/9Y3XQ'F82*`85*K#D61_0AA9?)4F5O^'^_*AK+*C3_G,JHQ*+M-8)#;' MFLP@PV=NAOSHA2/G\Y?!=J$\=_&1X((S-&Z6K,XR%\:IO`$B*D5`&V/VLE#N MH:S#@RDG&+XI$WOR@U"](J7UP<0))ESS$;Y22AL@TQ MZR-PVE)ZPN"OA8_BS4*FFBYZJ4\!%0YR*$P56(M*.XD8'"!8?R&Z1Z2PY$L? M2D!HRC=M2XG[E)KT.:7K1(2NG!&UD_]3A;M>B0B7[5Y(S912*5-+0AQE;B>P^^H$'A5RCR'<1CVAOM4 M8X$\3`ZFS$64VW[+TQI1A@,TBJ_3! M5N5<(XRL8@`6"1`9E_B7,3[WP/A&HGRFD04/L):/5-94B-RF;DCK>A6&F:K^@X5.CWCNT#CP!"O/R-. MWMQ\.:;3SC]4!,.Y,#"+RB+HI37:AB*J3A%FAZJ^0X)G"](HQ6EL'TZ2*?#&>AGT8;W<$DLP,`5GA`Q<<()\@DP;S[ MZ3P5$7?C0'&[=%UV4:ECY:4P[0:26_*"]V=94[&0F]2YZI/E\KR>A_?\D'SJCX#D(`ZF\D'YA>I-3]\5M0&:[_@#I'+`G+^!!=0BBE'W-#D_Y8D] MG?8QW9&MF_.P+/NET^YM-!9B))<_H=@QFDV&@9?> M@G4#DBH0$=IG[ZS4.H%=['?_L6Y&A"%@0\!/3,#_E]\A`5A?F/T#R]1(\SI' MP;T30\&&@JM*P6<3]K_`MPZZZ\M98\I5W92KY@Z]?+&/>[2ET]>JAL[F[%4' M8C!G+Z/X*Z+XUS!=>Z?&S;/<*AI' MEO[317*3!G3(G3H>P/;1XG[L)=Q@\1+.!VS%G/OZ%5PNB.:IKMP&YMA7#R(T MQSYCCU3$'GG/O>G8M2ZP%DD8^*XMLC^NV(C'^7N+[L#8U8:.JTK'Z]R\=7N& M@@T%5Y6"/W,2P/?61]]NY^G6Q#P8NJTLW?[K\MUE`&IK=>YI]^:*R5/N- MW7+K]S!(IM:GV#'RUM!N7>3MN8>=SGP0N0YL$%76.`_:K0(R7M_=Y0'N/3K0DQ&)^NL1`J8B%\XFQJ?0B#F[PY8.(B#,U6EF;_%0R# M`B]"W]"LH=FJTNP2CZVA6T.WE:7;J\"?6>=@=@>A[*WZ`.]75FUO2:$\O9[> M5W'T^9HU'#ES9L_Y?9JFF+V^"VJTGY( M M"G'!2,+.W6%HD^)(\+]J8QE#"8LM^,$K/NT$]EK98'U.K]\_))^ MZ/[RIFW!=%C%"^M^QW!&_J)-PFY"+BLX4RL1618:)H21;UU'+8AS47L]Q.W` MLLM8>5O8?YQ\TS!J6KE;58YVM=XBU`D&FQ:*\$"M5PG-"Z0RP\8S:K:V]0&G M%#T59<>5;*FR30L6LU9O6"-\GKK#D%L\4*O*]8H-@QGS8KSQFK(9G9N$5UQY MTAVL@NT.$ZK8"\NASBPI`D3G-P%/!K]Z5S[G`)3VV`<6NYF)^O'I"F6_%5C4 MF$5(K[[#/"R]=,N\1(2.RVXO"8X#\VOCBF8Z08+M7O(=W*)D"@N):9\%.**\ M_.]G9U]H4D5D868RX84`$`X@V(TM@969U@@FU%"!I=?###J)E2PV/N39?-1M1X+X/UZT$(6'NS$'#GW=?8-O:)S!0!;=$/$/@6F)/;*E"PIF M*>!IW+\:'=>6SOF+];KW1G3E4\]G"(TTA`JV4IB'U_ISKP&ATO0N]CCBU"'` MO1=[XG!D*-<7_=.QMC]&]\,Z1-L>X&7;%9/I&$Z`;L(8:0A^_(7>>SUX0XW+ MN6B$XB(CL2C`@6>B[1!WVE:^LF[(D>B0T1(!PW\3&-TEYM(990D=P5L3BXUB MU?P45B(W6`R..R!JMP.SN%/9!R#K=@A2WHY;FLSJ=W`]@T/+8;.H>&2Z)\.% MP'*I02IR348UF614Q"*GD^N`3Z(3DN(9L5+5D1'+'6(K*1`+8]5LJNAM?<^+ MN`V@R![,R!<1$.UON>*JFF+&ZJK2;I1:71?WV#<&]1V/D]`7MHQ@/]1&P6C$ M94\)+?%*-&$;8[#7$%.T_$"^CD(O#)*;<;YPQIYP9U59T9R*&N%WN/!A!,XI MPN5*=B3<.\]#+7=PS[BL?EKPF^AR&G'/`[LX8S-L["3;2:4]0.4I.C/Z\>!H MC<`,%6W`P%*%$RF M\%BC(]-9@L/ MB?*T=_A&:TP+IY*8WH#SR)!.DG1$QT&IV>L0YJ9O`W5$U-?CZ+XK!3)830(' M0(*X)30@^CFT>$9!"MH^CZDS;BRLK`B.^]'(E5UY'0Z66JY364927)-"&+C0=OF MTWBY4S'[ZZ)H2I:3R6)61OXN^'B5-K@$@?$M"'_DW.17E]]T/_F\@T\X;QV. M#:U#%('"%T(,`Z?N<]7H'%6G]/K\C3*TP">[)T?'^K%$0X16Y3QX#S80!XZ?4"_=D,]E;.@B3TFY5/B!"3L.G'JS M^)X0D&'W.NU6&;N3-L?VX3%>2]W2*<)%HP"V"9@80(W2DPZY=]5!"6T3NLR1 M-V`'PA_E33P MT9!?8$I@_%$"SV"$1R`"+8!#9]:04ZMZX<&*"[N.KPQP7AX-_1[=)"!`5(2L MB89NW!WS0C2TVO,T/M/$0E=>O.QO+'1MMBC=H0_DVP:L'L3!`?Y7.L4PS@=4 M`#^05I\T/X.Y$"EQG@2#;I30*3-U6\%Q47ZEQ2^FR?V:^^N;(>>.[P?H+N!M5V(:VG8.:6I:]@SAU+!,!KL'#T")MMH__2K1@-& ML]9F&XU:K<9NE*I5C:VDMQ5U`K^?BMA@1O'U24AAQXO/;MSV6%Q62]=*KI/Y M3R_3W?[/C1TP^63=_K9_-W>Z<%"RA28RLT4_Z8&'$6VN,SW]$Z M1EP(3(OWC")KG@1<4&1?A$UG*7H@DM,HPFBWVNRMT6[5V(TE5Q(:C^FG(#WZ MX"O]C?^\ST4AK%*'VGOR61G41GEAH%,P^0;./X'O5<(VH0S3`VB`V:[B"SU@]=* M-:1KK:LQ(.`=`^"Q##L\0^E?EU/\-PSQD>I%@'[\X@$A&"W65$FWH,6N8C!O M#H@P+)TR+$E)1HO59F^-%JO&;BP-%!<"7L:T1!1&QR=3+YAQS9>IO'^H7OB] M/<90;#HD863V'?;2P-?^F[@Q9FW#8A+2&"V9PDWA?,C75D#R'7X8$H/+B#F> M7L*-F!O*7&D9)RV'%P_>A'A%[\"C+1G.D^8"C],#M*!%L#)`>*Y<$`CV4%BR+Q(T*#-?.7 MI$[*^X42*_VQ=`V4X9_%((D\"[":/1=34T:4`$.11Q1^&,OL#T9A16XLKEE@ M$AD-34''LH1$:MK'>/%TRWT'_B.R_.TQ)EG`1U6O(#]ZV=MIO;?C7Z+<4YIEEU:@4 MI[28B-C*93J&=-.!4$DYW>%&4I3+Y**0'TB2$%=36")D0DDO2LL0RM,U:A6\ ME6K`U>Z)Z*^J=6HRB.LK^+]A0J&2H:E=6<2[*4?ZMX%W2_F`4YEOZ&,"'284 MHB"ZT^)"EUJC1:^#]:<8_)W'8"%7]CC`<%'Q,$HNQ`O6O.%>H:/_`7X0W8WR MD230-;O?W=6UX][BDE^^R'$"[N&&96AS&SS/2<7$MRA'RFB^J.+L"LHM)L-5 MY6:+W19B'RS8B%4!6A7`HRQ"6PU4%HC<*J"H.AC*)5NG034QNPGTFBDD10C:V3G?HR0%^?JT0BSY?`O,%65 M2?8W6$X1F%U"Y*95E4!88S4\AJ9G&AB93:`P@,C((2?,!?^+12136`9F_O!0 MH&/(XSL$GTS312AUBP_GPE$(AR63"M7`?49[0.B9@UEMU`R.`/G*4?JRU$6! M+>^7,<@JC.0)!>Q[3RN=EB,/N2Y7P_K8!7T9HC5+3TR#R,V4FIB$R2^&6(@N MHQS*$!?0MZU_@TX4V+MKL6R0R!P,*52;U(6.Z?2-MN5 MDCO547%&+J_`T#N=)K.2>W0])_D&PT>1Z`7?D*V)F0-XD$37(KXNFSX5\0@C MZ3(7YT)W^C:?#.'TV^^*\)/T&(X1CG%:+0)DA6[9EI1\$#PG2GP6B@\I$`FB M%GE\J6B_R(0*9*;4_'MR'@`WCVGU"N)Z+%,Q88Z4;N2'C?![ M%)4Y11+R*2)1%)SDA$/IGW7]N?50;`[0X-1+HOP@4^92!8VL5*C,[L2;6`!/ MK--("",A'FJY+51KU2+&-64DDHLS$>+Z.4)M2=,@Y8NG[`L6 MHK,A^L)#.J^;./'&7UXOG/`_@X;Y1$6@0/,2%9A0A-KLIO'K5F,W2OVZR%V> MXJYH3*4WA-VF^270OTM92KGCH,`>GCDQ61\,0#\AZQCT"0T4B7K9DPD\+Z,0 MDIA*LU,*4W9%LWZP.3PB[.[%9;>HFO:$AG8]469>02+K%V@KP?NN6^;)8(EH M!80':T-(U0H"+,WF4MQ?\91EB)!F+YG@.YN;"N"[:E/5U/XB'6R>"R"W!T,V MR$8BF%:NJ)4FI@GO3'92@O<.Q&;>\DR4O+Z"Y7R&8:V3-X6N_156`QH8/@]\ MY^=++"6.[O^0C[$V^2T71HGQZ3^K3Y^VQ1?,T$\CF+QA_@W/[1IZ@7 MTXAP+PX)"PH`RNPC#AL!A]$]PYPJPTM4 M_?#G8TJL<)V2/]4)/(^%%,B)MQ)9VNWBH24-W@[U*,XL"W>A'5%4]"CWX_:1QWKZHX[+J#H7V'@,RK6 M#@<=`OX]`3]W.%KC4#2?_/Q<4/:/)92'_?6A7//@5P3C1B#-62)RQ5V:X+A] MTLDDR\JEKWV)-Y\4GC/4GGZ'NKUNNW=*3W0[O7:W9_W!ILS'DN[_X7Z#2+'; MZ[1[_130P?':@#XC-79[O?:QD!/=[FG[M+]RT;6EPU;G]*C=.;*N@B0&/@,5 M`<+^6_`H$GPV6@-@3MJ=WD;`+">S+=%3J]L[:I](?B>4'_?76F5=Z:K?:1^? M6-?,O0/8)"PUI*A^M]T]7A^,W=*20NQI;_6*"N@FYT1=]R"N7]-^8&Z(H6G\ M]]S%))3!9Y4P]Z"R=WI`2*4J3(_908+(T:S#F^\N=$4T:S\EN4:WCN M1C8HIO(L&A&:CC4LL_!J/=4/?Q6!3FXL\OX8F`NVBE1,(\KU-,T/A2-E>>RBYGOZI0K_D]4F0\Q7E.E#,K">XL>I-7.^P)>>(N2(CETBIY0Z M4`#FXB2D:/#""\*U])6NX#[SN[,T:.P+'#D#C-[2'C9>ZOW3=4`45D855IXL MC):KCP@U2J[J._31M_YD,WF<12V7:1^-`Z\PI(:%3F2]"[!XB5X3[,/9U;M< M,3"9'E_X^E]32M77WS^[^BOW^N>@3J>VCCI';[3A->&11;WD%Z,FUQ?5MK0?+`9RR!&!-6FGM+)2U12X//5@ MLS',B(=!0C5D'%AG.+/0>^".8)FYLM?B<(QW`S?B?II%:=L4%QN<(F"R%4L0 MI3G_'WTJBH;3PNYE^_@UO0A(]T$R&G!AKGE(O`:S`'L\4E@J>K4 M65^H0D`Q&V,4P,.BY82@>Q%612\&'H4C!=-IH#J.:H]04U)1`.5&@L(0G_3%BW5$&&E:?@5]OX,TT[(K)[`Z*`B#)H2+%YS);LA+?B/?L^J:H M-X_69%W$TDS8WYAML1C%+FI(3-TXR_\BNVN">Y&EMZETL!2W5,6N95'+G32, M#VN,IUG;$Q`C,Q%:YT>NP\,LK9$PRNPT45L6%6*J1:VR-\E303(1C40U#E,4 M.\PU!QERO,6B%<(8\A9+1$U$@2=K**5PN*&=3#`$#^@'2ZO'(G709I(D4K80 M92H$05K<)6R"!`N#S*6&B2P4D)%%=1S(4#8M8X>E'6A)MF#ZHB.2U6&3?.N/ M!`8Z%?X8*>)`8@F3%Q>?TE@DDVP4UL5,U(6)&@7/R.-#F8VP_-0;B*/"V,?B M).#["?,6[]X`B2"+*;V?C6+B9"8+L%!P(>8+Q?0"UDZ9I1!D]3P$HEK6,(DM MT7*6=@5_#$(7!H=IYU8JF4G'4,(V*`[2(K-<^:8SF8T%DOB<%).HD\?RX\^; M>V3-S9D6,A\4D[.%<;K0!1=^S[+=Q**`$)GHW?Y_(KH%0A6:YLFC9^>6$LHY MIH63:L-_43&EM+T?8,8)DF&[[7)@8:3O`:2@B)N6@ M1>*ZM00KHL]@VE4=BT_=BG<631QV6]3R#0XG/"K^Z&0)9XXP-0)70QT'XCA%1A4Y;^6K(K651"[6K0,+ M&MZ=BC+3RQ#@;)7^7F<&MV:6H^&OT],4JR>]^85*X$U*"$T9CZ"/\)0I6GJ/ MY*FQ$";7%U)$L]&+EC_!JU$7;W6'H.S$G>XO1+"O^V\*UBD)V`,B=\7%\!;Q M%83E,R)]P[&8+H9QW0#PC<8>#Z+J!ZQQE?E<4>APHO MU,K%9IXR=N-@"HMA]H^;$+;9.5`FO6USH.O,SQ\[:/9OM)$B+%BD08IRKEGS$APHO<"(G;U'4Y],KF@9;M[& MX8/ID8Y=1=2X#F(_)*%/A:Y1JA;5D1BY]U0'NW0SCJCCPNY419XUNX='QT^O'"JL"X9!'`>3 M(BZ;)[LB]U`1W]2%!Y30.!`H@(';ATT$4W=S"8,II3X!N9*W0ZP@._^;XAO" MS=QO$GHZP"$M!DB*8);U"(=7:7K^EU#5PR)>QZ1UZT)&>3I%D9BK9/+W0Q?U`,>PQ=/I5K.13$5H5>$7T5C&KQ=]CSK M4BLSLUPKX>6IIIGB;+-0/VE%X#HM"H0+K;>XGOW566N=[Z2-N%NUELX;$765FU< M/E+P+/%UUD4P+V)LP>P8*&JZ@C=@K'>:TJ,".?4W04I!7H,@-S95!J6&"EXY M>;P^6OWAXL$@;4'VG?37-OX&=3+]'DXDM8'P,>)C3_>V.6!K+-SM]]J=XSV` MV;"Q46C&"MB)".FT3H]ZFUV@KG4EFM6%I.\7FO7)SO1?14#I=4!/B0Y^T9GO M?).]`J]Q^J>^9RV_YC1WE\;!7$$'\Q'A\'JAW$Y1"(GN`E;WE_OI!JXA:1D. MVBD'7C+\LRUOIE%WAEFW?)^ZO_>7-202PPN[YH6!X85ZP&-XP>@%PPN& M%XQ>J,KAY$%I92=Z2$CUL57B-?\2!DY"]98BSD)[+$J>\%ON!5D*V9HQ4=5' MPB,"OJH/7,D._[11+%_-P-1N,DY/]V([FTJ]C09NWUES_H*QF=OYL&C2"H/[ M\L4#F;,>X#V:.;NU!5-CSGYO-7?.HLQ?[^>296C7'UQ7S M9#'A"0M_<"Q_5'L?6:-]?LT,8"V16D='S0*MD9O7-'B:OV-E['9LV*WZ$#8- MGN;O6&G$_''Y>;F6L#5R]YH&3_-WK(S?>H?=9L%FZ@1LITZ`%BKR._=YR#Q1 MRMB9N+X+:Z1F+O4GG<=%R.P@R*2QSB:#M:67>$V-(]H#U6IDR-,1!UZ:&KR5 MGYX:&YMKY(B1(\86>9HSX?&)D2)&BNPW/Q@I\M@*:)W&YD:8.(NMNYO2ZDS7 M04S-W@+[QX'HKF=K=6TL+@K;-$],F_)4NPE9,[@J."6N+YE-5;MJ06C$AA$; MSQ4N.S`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`XJ"]1FWA)FRHB=Q?QMV_HWN%.[6W\AM]:FEF`%*)8#H\[;0Z2PR' M6L+7R!UL&CS-W['2\._VX?Z50C2EHI9Y`"_NIV[(G;>C(!QQMPDF@LF>-MG3 ME9"VK_NMWA(#I^;^WQ):>;.)_'CYHIJ@&0EB)$@5),C)4;O7V&C0JOAQZAVT M5)FPPC7IIC22 MZ='2LXO9YLVW>5F^H^%'HR!KO5/[+#E-9D23=S<72S&8OSXI285X8-9"Q1(> M9%;&NDD.Q82Q2$!EY+@93Q005'F6A4Z)*\CN"1(R:N";V47@-*+C/8_LT)TN MS?.L#9),8/U.`^L_1E'"-42F?[UG\9Z&U=>0>@R3[)1)5+*)7D-BC_-.:D@Y MAD%VRB!78Q;RR'!#/>`QW+!K=3%U0U&&?7^MJ$UNDK>>5;^%]^8W]2GG-FO> M\S7O/+/WI!'I2+U.Y]AZSX>Q=7$? MVUZGNR>)OHT"6D*XJV-N$PI"%>/I`Q^&5)`:B*%K M?>(WS+/.G%LW"D)U_JT]B32:J?=*;/6DJZ[;+`C-\;>R\.S=\;?7/C2F>/4A M;!H\U=JQ)[@\U4M^F?-O/2!L&CS-W[%5AF1S2R.;:]X%SOV3A?:X*+F8SKX? M_5L>Q=FQUUS[5@V>_157_;>GYMA;9;@:38C[<.SMM[OFUK?Z$#8-GN;O6"G# M#4Y;I\>&YZH/8=/@:?Z.K3`CS:%W7RY]S;&W:=R\5_)J\/;8''NK#%>C"=$< M>^L(7",%9'WA>?EB7_>L_.#;ZIK;WAI`V#1XFK]C*^Q(<^[=J\M>BFD>6&')I*Y%A`V#9[F[UAI)F]7VI$FE7=?;G67-4Q(C[WS][KUIX['M8FH>7># MAPNX)@&^T?&Y28`WZ%1M^'BC,WB3X%WW:-XDF!]JC+Y\H297R:A5@_)Q?+R# MSD=[0"`&:P6YG*W#%17$C#RI.H3&)C"V_48^C29!;B[RU\;2@J`8*#%Q'<3, M2X/8K=]",([%CK7^,XUS/G. M@]]_>_GBGP6O8G/N=RSBSADZ$3UEYH0H91N$5CR&O73O MK0D\,(XL#KODT-SXQBH+.UO=BL4_H[/F41@"%N!6O]/"AX>A]9:\)^J4]908 M6E<(9:>>M2YRUT;$F>\G<%IPW%L7V-BQ9B[WEM+)VGO^J/TY6'LCRM&R<.A; M>_:+^RFW8^Z`WAEQZ_6,LS!Z\_Q(`:;H6`?6H-U?GTYW0S5?W>C'P2CDW'(1 M!A[%5LAB_OPHZK0'Q_\`''7;@^X_JD%#MX$'*MQSX]GSH^?H!)%SW%L7-2M, MGRW8+V@9^3SPG9^ODLF$A;/+T9GG2>?%F1V#7(IG>V#R%%@X4OD!)7IL&L$^ MJK]V9/RL<*N5>L_F:*S)!_/-G/&U`;-`IE@[,-E>(04#*?J_ONIVS8/61L(R5-`^U!?^Q^#T/;35HVR>-4>02_\@ES M?31+\)@9,CM&7]DG=[2G?+2[A!.UDYU.OTZ=Y<4AAOG4-ZZ[XABC8#RJ'80; MW%[4"KB'7R`K<`>]VL*;N_OM]Y??_>[I]M8*W$8#MW&V2,JAW=J"J==M:@]6 M*Y;#VD+Z(.:L%;B-!FX+>K017-IIGZY6H8W>V7V/TY['3L%?OZ._4L;BU.OL M_O)%PYTNS8\T+A%,.6Y\XAO%LA7:Z")VL?ZVN2D15X]`K M/QSIQ>@V+!E77'_W*[_E?L+?S?YD?P?A>1(!2GD8O9M]Y=,`CE_^S16_P;IV M^U!SUQ2@JR*CF#(@.RH#I4]0 MY-&HN;J#^5S5KLXF0;*D[W6C6:^&9&*X8:?<\(6'.!U6?3,<40MX#$<8_6"X MP7"#T0]5.ZP\J,KG22-J('WFL14*#W)DC>!-RU8>Y`RUKD^-N,[@6\!>>97R M6M;D,P4'FUL2M-LZ/#S>BQUM*@$W&CA3N5<`?'C4W'U]^4+;V7^LA+-6-L4^ ME@/=EUJ]_245!9JTGTTEWT8#9TKU2B8]W8M]G5>;>U^+8..SO`5'^+/(9;7W MIS7:/]C,F-P2V=4[*K?Z:PE;(W>O:?`T?\=*?6&-K1!6?JJN"V"-IL&]XK+# M)N3P-G[WF@9/\W>LC-^.NLT";6>'WB846%A`U+(@DA6GX8LD#*9[WYG=E'0Q MA7"V(XA/#]>OME"S0*,]T*Z5DR*JE%P=D&?DR!;E2+^QR56-]5Y43WK4G28, MUAXD.TPQ/B-#]IP;C`PQ,J3"L14:1(\IU50;G)MZ5-ND55/';I/XBM;Q<7F$ MA2ED5VT(C>"HNBW44*3E(D;*0T::*#\:Z(DQ8L/8&T\D+4Z.3-E<(S;VEQ6, MM6&LC<=E@Q96"<9/4X4'%*RD[XI\U]]")L&3_-WK(S?!HVM/VX*(IN"R*:06"6%IL%: MT8U!=TG+E2<(-GKY0GV?%M.M"+G49FN-+#&RI`JRI-=K:M1B8ST81G88V5$- MV='8S&9C@!AV,$+D:0XS>R9#3%7DIY1JIMR8J5+X5`%BK4Z_/,RB,77&]L0< M,H*C:K900Y&V;W4*F^V*,6+#V!M/=@MTLB2LLXGRPM@;AAF>UMYX^:(0;?!U MK1%G;([5E9$=][:`LN2W_WR;1`O?/3KJW/Q]_>C/R^^=[K?_V#^=RQ">MWI M?!?_O[[\WN]\_R.9^_[5;[3[IKKPVNZX.L=W+7'_OZ8J)$$2,=^!%_B]S:>Q M->6`#J1$BU'YI^A-\Y2PJ8RTU7JOU^.0\PTJOC;U)L`4>S5,6D$F%>7+3('R M&A&)X85=\X*I.-YDLS==.KY5V\534YAW9UL7 M@T-GNULJ#1YJ.&COS7/10\9XZO=VON:=5\7L=D_K55=EB>[Z1@-SQV*`(7;# M+3^9#.&\&8PR_-K!!$X2X@@:64$21S&<3V'`T@VK9SVSQZGX',PFW.Q198MZ M!H&<[11-,S@L*#5\VNKURPNLY&AP MSZ2/*=:V,FL]O6?'G'4OB,IKK-<&:!-*L$WF>LH8I#1[NF;8TJ3QZV[K^'3] M'-(FA!`T\.+3B(RZB(QZXDH7&/W6R?'Z7O8F"HQ=EQ=Z/K_J8P,W2T;2R.=9 M%_7\*WA&M)C#Q>:'"RUJZ@!P$KFVQ7S'/%1>;%`TKXGRHC358:JPH`X8'?K?IJM8@.R1^"M+(RA$6!!.Q\R/ M?K98$@=YC$0Q"^.B/(7B?`8R5&E6;=E:>D%!7L**C(,22IBP\,;U95)"@1"< MIF1J=YV1UJ@TWF)R, MZJJANB#!,SD9M![I8W(RRG(R3EJ')ZNEC\G),&%3)B?#!#J80(<=!U@?F<@H(S#VC@F,P'B8 MP#ANG9SL=PJ7R=P.' MAH@^)'$2PM@CCK\4MI'HBS829],0VT4,2MI(9-^_LA+?%4.(N(!7EL-M%_`7 M_?KJX^XZ^(CQ+O MDSOB6VF+\;UTHG>SZ]F4G]V[T??S8#*%30C3W_[D&"SQZK[G&DBL+ MX8<$J`_W`G[_X-[C7U$*Y.'#@3QGT?C#^X_G'_T(AG3.*(^A$*RSZ/OEJ!B` MLHXF&2G^\>4_.AUV7OW6[2@R7+J49UCKU<6_"M=:O97^Z^NWN94>5A:K?UV] MGUMK[W##E9YY7G#'?)M_",+WH(!CH."CD&'>>1#1<\&-#^K<.6=3%[[% M/S_Z0K,4`O7A/[K0?.3V].9X8,,%;ANVC3M!+8/MF-AF*[!=QF.P9;@'MM;- M[]SG(?-`89PY$]=WP4)CL7O++^ZGW(^*"?$1ILDB7"WPCK?%V9X M-WO'?7L\8>$/,A"OF,SW:+G\$3X&=3HZ[.NG9C6)]+U_9K@HPGT[5U09E3T,WXM'.">;T"7"SJ5?F^U7,8HZ^B-]Y-VI<;: M?&-8G_=LU#NI"4[.)NQ_>!!HW/'Y@>A(XL!S;]\#?%Y`=X5GPYUBIO_T>GT- MS#Q&=QT__4&FV:)O8UB?6?0]A36V18I>;;OTZDG1#[5=3NM"U$^DNRI)SU70 M7=T'&+EG#F4%1*Y_\V3WJ;U^_E9_80D/6.!6KT>[O=/MKW"KMYTGN\;@8P-H M-EG@AR#D[HU_GH0A,,'LXMX>,_^&?P4-<8WEBSTBXF)&G8\XV6CG"[CHJ'VD MK7O-E>T*F(TVH0"8D_:@]R!@1/@E/,&CZ')$44\8=O/)G;AQM//(GX-#(*#C M7"1HR5*RM:J:5&>B))4.',"=6ALPQ.64"ZF(%PD8G1GR,5"D>\L_!3"%OW7Y M4DAEAWT%VA97_ESH>#R=]H]WBH[U2+\,V$=%Z!6`>]P^20E[[95M&9@MRA@\ M,C\8F.7;?3WFL&ZJA`-?..GNSVW^Y6AA^Z_O@FT;,O/`#\!0:,/#O?5(]U&P M/!_"MBCX"&&=WF!-7J\IPAYAYQ536!=/\`U&V!9UB63)WIK*=4L(6T_LE8&_ M5>U"".B>GO8W$\G;!V<[^D7L9^^X]PAPMF50[)K9>YC,<7K4[AQMVQ1Z(EQL MUR8$7)R`LM@=+CY3T5K@;>6TV;:]D`Z\D.;6307ZPB(V7=\CU'/Y^GJ]K:WO M6:Z`RR'K;PVP1W#^$L1W=T08VUK?\;.M;\>$L0[%8Q;8.2W!>_*,M'X^,[9L M*4]@Q8U#OG4'9X'\[W?:QR<[-^,0F.?$V79U9K]+=P!/BK,U+;)2#&S;'P%T M<[JIN9B'Z,&VQ9-8^,I,/.YKOM$'KW?W4&]M8[O=WE'[Y'2[4,]+^^W8,._Y MB`/%.?("[RP,<:6XNC1I7CURX=^X/J<2!MI%X0>>IM"OH[P&9`FT(9B'6P)S8]/CJ?>SU`JL`*!/M9_:138HL`C]QB.J M!R*J?XBO07,5WZ2)D1#X/QF:(YW3>6)>_#X5(><>P[LFFDW^U._F9^.4"/A_[AT3A;!AT456]#R/,4DD>?\*)80[:WZ\\X@QH%FN'9=:+G'YAQPM0 M<=IK""9DH05`!!@*/WB<12ZM@X;CHX:@846AB75PT3T^?#YD;"\LD$`9=&L$ MRVXYO7_4:0@J'L?JO<-N0_"P!5X_Z0RJ(O@>%8!(8JM&H.Q8J9\V!!./X_2C MRBCU1Z)A"XS^C!2QO3AULM2.G]%BW?BHNEN-WFL**A['Y]W&D,06&+UW?/)( M9%Q,IEXPX_R*A[>NS8O?^XQNH`AO*^]8Z$37`56,S'['ZI&?@_@_/,Y*2)(; MXG)*%SV[STE`PNCT\\AX$M!T7!;/H+GIW\VR1[X(-SU-*\>ZS/IP"Y_+ENXK M,Y<1UG2.9[BZP,<[`EGPB[PXZ[J,^OW^8>=8JSJS=;!K@5.:)+UW26DM(XVU MW?#'G=.!3K?-P>>#W)I;H='>85-I=!.<;HU&>[W3HUYM:/1W&@4=GN8=4CN`>)L(!4O)E5$J6ZW0O3V$ M'O2WRI`%`.](Q"U$OO'0=B/^)00;[7D-'C`JOT]Y^)T@F;LE';0'ASL1?\O0 M4>,=V)S.EV/_M+?OV-^],;5\!P[WGOYW:WJMD#Y'U<9^M)&^WG@'GLA4F]N# MQUAL54/(=@FRWS[JK@-DSZWKUU'>X[F`ZPFTR; M5:)ZN!JBX2807?-PLJ7PWJ^X#J*I/UW?G223M#U?]S]'?\Z1R$[@J"FVV'T. M6X/_#/X\>O\L^-H6OV#BY(>0\X^`'.#D>&O\4DID2[/[.^U.9W"\!2&U+JSU M1FR.'EZ?A]NP#!\.M=;7_=$W-9M. M_AP8/_RS^SYM%/_D$&\!VR3YWF]-X19F5DD%/+N^"Z['01(QW_D0)&',N?^1 MPI*"<`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`U`V3Z>0*YL+_"#I-X)2;V-#VWK+G2Q.P%A1E;(ER]] MX2$-^I1;WVD?+S0=6+*TM>!8TMMN>R4X8=NZ)X>'BRT32A>T%5E)_\+=39,. MMA,T3AF5W@ER'`40M;@UP'"@D5*P4U=^^Y#0BWA+!W`8`HP*A:0;+3 MK>%,!W('>"MGZJ>I8)"KLWKXZK>C[5';`IB[JXDWESA"/Z+1D"8C5K%&1+?= MVV+9GPT1LIUS^+Q__3(>\_!ZS/S"155,1O2ZG2TE8&Z(!ZW56N"'V'=IKF4A MEB5>UEJOUU'XZN3PU1LL?K]4@^=URY+5/'K)G;2,7"^WY,[1XO?;7O)['MFA M2SMQ.9I[BE++W&$2ER2X/@3CO_WE.W#(!QJP8AY.(BL8T8?/GX'BNM89&#%$ M3BWKCEMWKN=9(7_*G3[IQ8($,(*=8H""W. M[+$:<^2&@/C`Y]8$!@((Z;'(B@+/@9$<>O^07L/'?8#)(ME0\'Q;875-A&T5 MPQL1R%(,]S(,KXG@WN$J!,=W0640MOG!Z!K@^`D8IP6<@W`A]$XV*.5E#DL#"U@*@K!OS M3@$X7`.`?-OEP/]:]EQII_!'2_$E(/1T$)8NK7@79-^#K]QC9(YFW%\$R?;: M#P)C#7HENJAT3=L`87N-U0`$V6KIB4'87K\H`.&Y=^"1R^^5&31K@"";18-= M:((%9A4+?N?!3>-NP,^D)SGS8%MD\D6X5B? MV`>'U85B-;$?#G;*J@\HG_FTLGN3:C./(O;^K?!NK$'L1SMEU0H2 M^\-+*SV*V+-2&]6#8P-B[U<7BM7$?K12+RE7L@AON1Q]Y=,@C#&R_(K?D&MX MVT0OQUU,^,K\VN6+T9<\=V6@7J(SNQXP_XY%KKWM,\:BBQ[OET][?2T$=J,% M;A>R1YB;Q9"=')X<5P*R1]@6A9`-.H/3TTI`]@B>*H/L>!M[=N;'KN-Z"38# MO<*COAN[/+JXM[W$X&C^T=FC0)E;N(\N9ZA?' M6P6SHGA[Y%+>S8H'$/US-[K(1,SW]PCS*<7*<&W"%N'M'%N]AK$+VNU+R$<\ M#&4KU[4SI+O-P.(3EC%&ZNLUA?K6"3VH#-\3Q0[Z>X/Y^O$]X/'_.3BP/@1! M[`Z[_X^>1_.T3?+#NZ:MX-N6_ON*850>SO9+?AH$'WX[C M>/KSV[=W=W?M^V'HM8/PYBUP7_\M_OP6'WR%0[]=&)N^Q5?U.YN/[OO:Y\^OG[U MX2_7_7[:NW3.J1>%0(1S)<<,,/C./18CY^*W>^%C09GS=3Z7T]P[V&OL[3OR MXS?P"7`?S=XZK6@8<>$T#M\Z^XWFH=-L'C?VCP\/G=:5X[IJH0"37WW$P9&, M$7Y2&PDQ/J[7[^_O]Z9]%NQ1-JSO-QH']<7`VGSD\93CE='W!XNQS?KWJ\L; M;P0A_E4,Y/N8Q_27UD(A5E/EC,1O#28WC#+#YP&V$<"_%,4*)EO1@""WQ$42:C`KSEJG;M>>T48-2?U M8<^C85W]OEYDQKKBWD.!%P6QFBXEKRM2P%2`G,Y?R*%6>+KE8_NAWLJ*@4*, MLE7%)0O&L`P0[\?81-P=(C2N*WW6(1!\\4VL8;?13"!ZDWS]H\6Y7/XL8DPZ MQ&*!`/4AB)?]D3ZN7C*79XB/6L17/R[^C?`$!9(+WA)GB+&9=/.O*(A`P[T9 M_3KR+;8J(&+>8@WY<0/V50=)1M1Y%(;Q;*Z$-US0#Q@-=0I>K$NWD<.AS``9CZ'_0@6T$<" MYX%-<'89C!'V+Z9C%8`DZQTQDB(8[OHFU/9#:*2#!+R_;0)OSF)N5)9\[1B` MS.TO5<6G:YSD#"ITU#G4JD!C1N9"3-:)]71[3"\9BI_TWNUDMM7 M0;F!0,XYE/Q>(?8+EF34%=^RB:H`DDYF^_+4+T"D7('DMN6'F*C#35+*">3# ME$=9!:QRI;>O6/$@VV/]Q62O7AIM`S";S&]`LQQ8+7^4+2!6BFD:)@1E&MFU M?)!8E2E_/\BF*9?W-A'`@!LD!.LC=VA!N0K?/)NZ)F6^BY1N17'->!M3RB&L M$DYY.K`O([@&811:5L>5[>,/O0<)T;RP%$GE/M8S3F%`6=*CN$53X%>84(;% M;.$X,N:OSC(O95V!&%%_Z>2W=O\HCXM=VGR:06SN1R4B8M^#SH-8B6.?RL12 M7]'*HJ@&T"F2FJ8QFH+NDY1SO:5:)W^H==*!M]R\#*2$T;95W2U6>,[B[A;L ME%[7V^@;&[3==51EU\>V#8H[K$P:*'W=M]>DM+%$7/0<`O)BQ1-_V\,?S[1@ MU4SCN?1N_!YD2MAXUNZ?>M'VV81IAN#SQMD?5E/2)BGYMAXTB^M6M[3E MR><8!IDWVFBD*S#);MMP!8'2H8#/F"#B_:$EITU2^KU3'H`? M=[C;G$?J)M#.8.E]:)T!Y]+:9[<:V%)NJ]]BHO! M`#S1&5Q,O1$B0^@A`1V2KA?-=E!HFHH#7DQEAI=&9!X+_/#P7Q+(K_X#4$L# M!!0````(`,]%!D?,WUE<2QT``'X)`@`6`!P`;F5O;F0M,C`Q-3`V,S!?9&5F M+GAM;%54"0`#)E?#5297PU5U>`L``00E#@``!#D!``#M75MWVSB2?M]S]C]X M,Z_CV+*2[D[.9.?(MZRW'=O'=G=FGWAH$I+8H4@-0,I6__H%2%%7W$@"*DBM MIT[+`%A5'ZY?%0K_^.?;*#Z:($RB-/GRKO/^]-T12H(TC)+!EW>_/5\?__+N MG__]G__QC_\Z/O[7^>/MT64:Y".49$??:)E^A,*CUR@;'EW]>7P51EF*CWXO MVSKJO.^^/WU_=D3_^1V%"2*A/_W[42\?Y"0[.OWX]Z.ST\['HT[G\^G9YX\? MCWK?CHZ/V8?B*/GQXA-T1`5+R)=WPRP;?SXY>7U]??_V@N/W*1Z=D^J M@N_*DI_?2+12^K5;E>V<_.O;[5,P1"/_.$I(YB?!HA9KAE>O\^G3IY/BK[0H MB3Z3HOYM&OA982JE7$?"$NS_CJMBQ^RGX\[9<;?S_HV$<[EHF3";?V:Y@8\G MY1_?,7/Y.,!IC!Y1_VCVS]\>;S:K14EV$D:CDUF9$S^.Z9>8#)^SZ1A]>4>B MT3A&U6]#C/I"%:OO,\D_,IG_QEH[:2$-_3=*6*\Y#E'?S^/,H&R;;1N2-!WY M46)'T++I5G(631R/T.@%89-"KK3;1L(A%08'^0LZGBMN4$Y>ZVVD3=*L9W3( MS!HL9*H$4C6>H#0)C]F\>?I3][1HYH+^0M5#(?T'2>,H]#,4GOLQF^*>A@AE MY+?$S^G,C.C,LJXMDY*UF8;H?9".3@I-Z[2X1>G'/J:KSA!E4>#'YE59;;ZM M7D]9&OPX]XLOC\94A&+->/9?8D0T99`9O66Y=J]IU'1;?2Y1'V&,PD MU_:BVD;Z\3"-0[JGN_IW'F73FGU"6-^:9#6Q5C5C9R9H8$5A&U8E[)@0L6-7 MQC,3,I[9E;%K0L:N71D_F)#Q@UT9&XQN55.MY44#=AZ.DGZ*1\4'PGJC6UC? MFF19/2NJFFDKYQW*;E-"'A!^&M)M6".HY6T4$M+C7Y1$3/Y;*LZ*H+08HEJ% ME:BL27.[Y(+52(.5+\:,1T@Q]_!0'!SZ/GDI3@\Y.1[X_OB$F>P$Q1FI?BF, M>'S:F1$'?YO][#UE5!:&&%43W=!_DNHKL?^"XN+;GKBP=UJ:"T+B8GNK(VU1 MT.NL`]O#JS+3TUO5VNP@5XL9Z>-TI&&NZI.I0MBC%--]QI=WM$9.J"3IF,G, MNGAY./PI[3'?7F7X1S!@701^X30W3&;7'MOD5;O M6J_CG=F`3D(I2*"(703U7LA&?:#3(+):D'O(R`,=78'&V)7EN\X M8OJ+'#-*5!N!M?+>3X!`;!I7!L*FY,Z,@@N?#'M)R/[#Z*F)'U-!22^[\#&> M1LG@=S_.91MFK?K>S^!0<2`0K"Z:"CF#X(PY)H\H0%1"GT<&?2NTDFB&1L\B8WR4/ZBC#M9I<1U2]ZR9E,#SC]`P69[+BCW8;W M:7<0K*-4!><9.)QT>S/VH_#JC=%^B$I\GPVIY,NJ2X#4J.UU3G<'0TU]*OBZ MX/#I`K6F@A5"R-+$N"YY9?P/X,:G`WJ,<#9]B)GG,PG90CMF$P"=NJ6#1ES- MZU@A?`QO!U4:N+-:E1HI!X;7L4/LV-B%,UG=63]N(_\EBJG%$*$=8=--K'$L MTFW"ZT!2!W7.K'4TFU0I> M!Y*(4-A:?F;:5,0E<'".PDWUY/CPZW@=2`*B*41B7=S9)JS%A:DQXE?P.I", M0R.`Q(JXLS!=^.,H\^-;Y!-T_Q)'@R*X0F,DR2MZ'4AVH1%::H7<.9K6FO,X M$\09)&_0"!V^$NZ<5P6]YRY-@J9#:5'7.X,D%0QL][0T=&?)6M)8;UQY9Y#4 M@MG].-/%H?4I'8VBDOEE+I>TB']'22"'1E++.X.D(TR,);EN[BQ2C0@+B4G. M("D*`\#)57-G*5N-RE!Y=SFEO3/8``BIF87."9X6SIQUV:!/$RU`UHMZ9Y#D M0R,T>"JXLSOHA6%4?OK!C\*;9+:YD;$._!K>&23GT`@9B2;N[!EZ09"/\IA% MPQ<^1G;Q`J,ABS>(Q>E?IQA%@Z0\3@339^PG)"XVIKWPC[QT-]^A M[+[_[+_)*2737_/.(+F.9AW#CA7MT=ITQT M%%0@>;)ZVPSR_MEJ:H/#931=B0^7T0Z7T0Z7T0Z7T0Z7T0Z7T2S/9H?+:&Y? M1EN5K\@P0'IY-DQQ].=BUZ9D:-%YJ&!9M9Y8?0 MADS4`.CUMN;02=1QAT/D];8;0O+:(ZVL!'J]K>THFZO@#AO'$_,^SUA:598U MMB9&2S5![[6U!6I5#W>8MU59;Z-_YXPK**YML3^@,A6N'F+PT]QC M"&K`7FYK-:X6"E2X_.(>+GJ;"UDUV'MPK1!:TZ*"Z1.,VT&:E7C;K`FSSX8L M/8S]9%"8^WRZ*/+@3]E/O52=96=(3B;:[Q0*0G9O?D[ M?X243@8;GX-V&VU@*Y@G[*A^Z$DFS>F(PPNT2[GG)KL:C>-TBE"Q";TOI%`Z MR81U0%UDMB8!?O^0V<`9<+_[3/M,">A*.5@'VE9!7-?;A,>-DXN]^,GC'_-F MZ:,>41%G^IPN]2<6)S>3D!1[()9Y_9Q^]`<'2N/?@'7&63A4V+"0.R[:I8WV MDNR/:1Q?IWB^BY;UH(8MP7H"MW/XU+2#.]Y>WK%K6?UEC1B;7)J-D'Q4_M:D MLQCX$*RSJZK&N7AS/IKY>D$63*)OJKD.Z+<`Z.NVM,C7T M5[BUK;//M9Z880:&F M"_F;+&:+VB`,8"TL:BY?*ZK))T2G3N?5RZQ;7T^3@%H-%^S)8T1^Z!S.Q94` M#N4;PJB.X/P*``=NJ1F%B[]`^-T^5L\C0K^B=(#]\9"E9M"]OKY>QX$CM!@F M`7\BT<697=WLW>ME$=7A**(ZT$=BJ<4%($ETV5>0'#GJFD7+UK&6H.#]()V< M%$L\GC+0NM7_,+RZ2WC-?O;^]X$#S.*/L%$YL@Z_:O45B1TPZZ^/$K/^^@@; M)U/?K(7$[AQ+OOE_I/@B)UDZ0I@HUNG-PG8.CU87:*X2[@#"`J;N^RM"*F=] M81U+9T+MI9EO:SXN,B6<69,-H^/(FFP()I.+L9`-^Q_T&J,L>_"#'SX.A52D MN#!H=(NTD_-H+H$&-BW\:_J2WB2!PK0KI4#C1VK;=%UTJ^SM+?+'US@=7-$S M.Q[CB""B-JZL$NQ5]]K&5JEB(EI/:/P[E.$TB=[4%M\H"7L[O;:9N?+;#4]+ MD^E%BL=IN?-2V)=;&O9V>6T;"W4PD1)%:.?>R/\S3=0]>*T<[+WPVK;E2&\B M78G8JGF6QM'D$DU0G!;NAMZ+RL#"*K#/G-:WM501$QE(A&;_[D_05YSFX]M, MM7?;+`K[/&EM,_,5,)$D1&C>B]C'$1M&8L4?D(E4;6E8)]HG1VB97J6(B M$XC0^)(S%Z2 MOD/J&%QN>=B'9%M`)-3&[A5TK6BR61B9,L2S46NP+\O6"9=JJ:0[CKT+GPRO M+V\N;A*28Q3V1DQXV>+&*P_SS&Q;#`0+FTA!9R;'7ARGK^S9H>N4GGGREZR? MQYNSNFQ-TVH`Y@E:.Z#J:^S.R+Q*)A$]J3(BS(\O4E)(FE)S_(G"V4N4[)\W MR0/"42K+HEJS)9@7;>T`WT!U=\Z1==^6I*9@6"5AT]<][7P0YDU>._W)GH7< M>6Z@T/$)Q;3AP5>4($PMDX2]<$3!(\7V:()F.7%4?4FO%9BG@2UV$'VUW7FV M8&/W2V=$]H,_0!W9?E!2#>9E7TO;0H6>[KQBT`LG"&<1H6JJ1^EF89BW>2UM M^[C:N?.8P=J*6L^[[V_TO>?7M.&@;_5-K[O[Y-I6C#3O559\ M'GH=7-9'M%OPNKO/JC50>8Z?E4AJ4RN0]77?Z^X^!V;>(O/.8244_"YG5J%3 M2W6%2(CR1DFON_N,E$2UN=VMA(8S#]I%P97$*J^BO(+7W7W^2*WA'`PK$>76 MEF?ZW:;'I99?];J[SU!MR4SSOF4E;%YS(R#M*37:\#[L/HG52.DYBK9XK&8K MN&Q;W*91[\,>,6*MK#`'7L";V4XP=CE[OWD6BP:5Z'M-C*4<[+<:R<0T:@-D M%1-+52975249TZH/D'-,S]H":E]7J=W.12;64B/#M[JR`]G)M'&LVPU<3.XM MEU9Y6T"G.G0N,SU`FH#I7GZSK<#IR/T/^[AN)?G*`T;C\@$6%T4ANSJD`D]Q<;$;!3"$4?K<)A3FO>!'[+`"O4$TW MN?EZ'0?H`S%,?%AENCASKER639U"8*,P-`4@M;%@M/&4V!\\'#G#&P+&O60- M3XBE2CJGQ]=RUU*(J\X$(*X%>H+G#P;!?";5P>:N=O$RX_(P;] M(AV-TJ3L;LIL`.W:!3W4U]EHF-+6G6/EAO;%H\>D_#E#H>)NF+PN""U@#"/- M/29'Z6T<3!>J%-^_2[/*&QU^C[+A3*?B;\JS:XVV`/D#XY"V,8)5CFY5IX6V MCRRB0,9SBVL!TA*6<%.IJ[CG#T9B`#W4-M]'ZG`8FX4A7DNOA%"^B;Y2$("K MX)I+=9@]!T[BP$GL*"=A[/GV:G^H\W#[:EE8FJ$& M&#S)[>:&W-BL:N>!5-4$#0W0V9CIZ^$.:[,Z3&\C*G!81)N7?T!)('_66UD; M\IBO@P1_W.@IYM!D9I-[`SSP-T=01RV[U$N.@Z%/"K)B/@F?3[_[+*HH*VD* M,0.C41GDT;+&N-32RYW,BK/%=B;@/7YD]_`JHN\)!3FFEJ?=BI[J43A7A,P* M2J,[VK4,\XQ:^V'97FM%_L.MT''GM`\7E['H0:=8%X#BBJY&XSB=(D0WW9,H M0,4TR+3J0Z19_A+$"S@G#TVHXN23+3Q/0!.TCSR MHI.C)8/M-B]:IHU=G#]F.BN844DM%[A16TCS.Y;<&,[LX@5B*OD]:3UHZE5A M^UJ`NJ2^JC8(1;RUTTT]0[@S+&`]#LL@XF_.&I MK9\SJZ167[]C##EAN<9>?1R2Y[1X#V?Q=];?[]+L_U"V&`F%)>\+M5IS2&V_ M#TV+-^]0VS*/"YH3"]#FG:OG%0GE0I/A') MK\^-MOP&1(RF"5"5%&A[N^PV[5FJHDYSM5+.*6K3`(*"C<>:RL[L+YIKO%`I M"1]B/[GS1^H,2C8^!TV7;F`KF"?LJ'[H22;-Z0B+"]JEW*-[Y[OLQ:9823$) MZX!2N[8F`<7IA&,#9\!MO#>;G8[N\XQD?A)&R>`QC>/K%+,_VMCA2S\(RCE; MW=_:,I<[O)E!%S(1?B[B[ZKGKKYC_]HW% MKX%Z!7:M*_+MMS^3XM7;.)IEP==XQM["UT#<%+O:&_GVHVZ`]-QYF03B( M"'K`D?3BS)8D`/&%[&JOU;>I(@+=I9XL/`)R%PY;O=F<%##7'ISMTF8-6_7K M-H^]N3%#4\OV4<3RE[-7,*H=27"1:EH!W1*U:4&'HN[2Z; MVA%/;5V;N^=<_48--\I'2NNOE`-UHJYU8K[5U\5UQ][^FYZ]E\N!>A?U[+TF M[OX0V:XXF'?2SP?G8'8I95-C%:_]"/_NQSGJ$9*/YE0]"N@A^#*:1"$]H;(' MB&WT1MUO[Z/73Y@,91O6=&:I*C1Y42O[4D?99X1'LN16]CZZCPY!>4>U9<8] MG5D?(_+C&B-TDV0((Y)M/Z>QK29.,JF$'N" MU:_OI==ON]N"38.ZG$>M>_!O'/P;!__&P;\Q3YI1YIED1D@3IK;NRQ"\>G\- M/XC*!,Z<#-?D4][6XI:']I'FV>.=,5]OWFF#".&C!;? M1R<47$"X6W?4%H_97N:8VJB4L="0+"=TJ^+6I1VQ=F/[Z"T2]ZPFYMFA2V![ M=^;"T*MKDT7L?IS(@VNOKV#5SU]U^L//S1TH;U=>+T8"A1O,Y.^L%J M=E](ZU9]]Y.#T8O$74H4]\9%S572&5H MFZ06=/2AU.HU@'(O_M`"5([$(IK&S&0THO!4<(E>LBNVVV(ZSN0@PG!#91W0 MT$/%".#ME>6JV#5\4'SF^35]'J8YH=O[9Y142?FUD=!O!#02L!$TM70S$:$B M!.L:O>#@&9X*26S3PXUXXB4B*5;&Z39L"C:1K`%PC#:V^>?J-*CW< M$.>F>'AO+HIJK-5I!#3BK`%D-74S$2K1$JS[1)P2JE$[H*%7UB!;5L]$4(`$ MM>7Q?IWF.$,HZ0WH*4-O7M1M`#20J1%.VGJ9\&[7!&BMOS3"B-L&;&B/,9R$ MNIGPO8JI^GPTH@OH?7\YY&ZF+>YH.(N$ M%3-@$*M[S<8Z%P&/E_S<#J::AHGP,`&944_)BCT,4RL$!>\'Z83:B$T]C%CI MSO[->DMWB5(I?_7*.6JT6%"(*EI"KR),=(-YK/6U=7-[L"PTVZ%,,M)##IL*YHF@E'>K#7T&)G@&=G,G,,/^ M9&Z!S:H*&7\#>US@VF*'4J"T/@WU!@.,!G0;804R@88. MN7ZJE=C,G80GO;AH'(5\>S#E$B+K>WH-@$8&M>LH^@K:3>O!U6(YNQKK@M5> M[[Z_%'/RG%9<;DW:M&;KH($XKYUTW_`6OLW-L MIP4++$@JI[N#:'=AXS->9U=I3.-FF/>.W7?#2)-[%G]DK-S\E4.+.]F:DGB= MG6-,`2TU[[&[')R\'IM]GPT1?A[Z"=>5V_39'`;3>A8 M)P1EY%8CK+EIDZ#!S#6%UH]@;M(P0-AR"]!$P[FM"78[0GG^!N%7E`ZP/QY& M`9T$-9\S7:_C5.1R4S@%W42BLS-1@;/I>EE$==2HJ`YT$+'4X@*0)+KL*TB. MQ.>:1\GS_YG_8+R[&?OMR<.,(L_P@;/RCK\JM57)'9F M,/1(Y"L#EQ>%8&-<]8W-E=R="-6K'*=C<0HB7C'8%S'K6WY-=G=N("^4Z&'D M$_DN11P8WJ8YT`1?YG?P#4W@SG"L)-8XK((F^FIJ:#YL2RK9C)">?>:!'B'H M%.(/T!T2Q\OQ"H/F[#)CU>F"N%NEEL3+6O:ZMJPB9%K[')TM?'G=-T&5_/_#_C%&=L MES&37[9U$E>"O**J8W?^7"_5QYFE>:,K+LZFLEM.LFJ0MT6;PZ70"/B(?H>R MVY3,KSO"IKKK)5D41G&>11/:IX,<4RT1N7H+XIPJQ8@1%I:39V4H8__*Q^S- MO[GP.J=Y4Y\`C11IJ81^Y(B)#P%P#09!%NVW39MH3QB-67[[,G.H)J.Q7LC@#UKP7EB'<;#9/$W:8TEV^ M>/7L,"YN+V$".[A#'JP)J)PZN>4MT3OU5S.1N?DHB71Q9A@:`L>UI72KM6="<,DB^F M5IYK555+`5OZV<_M0EBGWZP8Q?'YR1#VCJSNCG8"][8)=3*8;V;M!GVH4V?, MB0Y$'$5L1L&NN7!T/=GR:K#/:]HC\'5U=^?8VM(6PBRB1MN'3/^G`::5_=A" M<_GHYKAP3Y@\+#DP_9__!U!+`P04````"`#/109'*5G7^]93```-*04`%@`< M`&YE;VYD+3(P,34P-C,P7VQA8BYX;6Q55`D``R97PU4F5\-5=7@+``$$)0X` M``0Y`0``[7U;<^0VLN;[1NQ_P/ILA-L1I;ZXW1Y[=F9.E&X]&LLMK23;9\*Q MX:!(E(IC%EDF6;K,KU\`!%FL(@D"((G,ZMV'&:LE(HDOF3O_V"T-A/@C!^^.L7/]V='WWWQ7_^[;__M[_\CZ.C_SJ^N22G MB;]9T3@G/[)G%B$-R%.8+\G9OX_.@C!/4O)S08N\>_W^]=O77Q/VXR\TB&D6 M>"\S,M\\;+*!O'OWY[=?__G#!S+_D1P=\1=%8?S[O9=1PB86 M9W_]8IGGZS^_>?/T]/3Z^3Z-7B?IPYNOW[Y]_Z9\\(OBR3\_9^'.TT_ORV?? MO?FO'R]O_25=>4=AG.5>[&]'<3)MX]Y]__WW;\1?V:-9^.=,C+],?"\7K.J= M%^E\@O_KJ'SLB/_JZ-W71^_?O7[.@B\X#](DHC=T0<3K_YR_K.E?O\C"U3KB MTQ:_6Z9TT3Z'*$W?\/%O8OK@Y33@]+_G]-]]R^G_A_SUI7=/HR\(?_*GFXM. M.-_OT"H&O?D;<3'#:YJ&27`6VTUU;[33.=_F7IH/F'5MO*-YWR6Y%UG-N#;2 MT5P_43O>5N-<\9090FK'T^W($>>:-^=IS,@M![FEYC]?LO?OS(P^YS0.:%#. MC8]46$M!6%A98?P3?X=8Q,UMDN[BC&D2+G M8?YR$2^2="4,]OP^RU//STM28O+B!;]]^^';]]]^?W'QX>_GW_YF0.G-WTHF M[,PYI5FR27UJQ(#B.^Q.S;O_[;L_???ANW<__/"G?_S].Y.I<>?&Z'`?3N.C MGVZ_^%OEM[TX(,5`4AM)?BW'_I^_%+.IP,W3W6_BI7XY4_9C#SKYQ!L_83YW MG1_M`%VDR6K8)R@GE@QCUQMMV9-`!&_H0\M?%^2=O15O$\)MOWWW_IZ^_.W_WS??OOO]X\?[C#]]^ M]UOG>`?"]^UW[]]]_\W;O[__]MW[=Q<_?+CX\;NWW1-JBIR4LNUSA#^X+UZ# MI\^"U_NDLK1`*%PHB9F`[*F&&1M<*,0)T\K4BRZ8LWC^@;[T&>;N@:[ML`I" MA_3(!XEXDK!'76O!Y`"<>XE>06IU"GU2-)7(SYD/"K@?.H^\!Q/COSL0TNKO M0]B7E.KOA#^`QLP/FS:H76\5FEZ#WB8Q4XGUR29-^9O"S/>B?U(O90ON4[:$ MT3'FG6,A[+D"R+[`R$=)\2SA#[.`.B#\<7"S/A$.$.O>)UR=!KY'LJ92AG*I M< M%(B'T=G[,<&@\`,=0J?M$MHESHVJ%$K:I2R=%J$Y&-)+M$'IDREI;T%4Q!D0 M4*_1*6"]GJ-+NB9.:Q:+CQNZ3M(\C!]N1C0]8>'?0Y(:[!/L#H/;)=B??H=`B<=( M^1RX,QEQ[H![`ZVBT[,ST"8W$_N,9+5*XML\\7^_77KLZUYM=B\0;[*C M!\];5;^1M01U912_OHW[MXHCR*O%N=A[,5^R$+))`M-:HF,:+GV M3X9`]R7VV(MX&2T34DKS#%/YD,T7;/4(%I\/0#[OO/M(>[NA8S244^@$LR]M MU0/D5_%(0\I`S/UXTPZNJ>I MMF=1D`#S+4I8C.RSC$@CYM1B"Q&5.\G'@_&:_"JD] M9Z_^`(29EV%,+]B/VELZ"@K0OK,5E&+QPA\CXCELUO0S%9C^U+F M3E7F64;SS#1)MC<*RC\V)M^H%Q()ZC?]JWMV=WMVA<0[N,*+U!JX"X MEFJY"ZH0;J5RMQ.!=@-=T-I%?U9M?>/[/Z#R!4N*TG(%*W!RF M';QL.8\#_I^S/S;AHQ>QV63S_,1+TY)D MMOBA-G1&O)R4HXD8CL+?#`$Z.H!UH^N&BZ^5DWOZ$,8Q_S#)@A23F`C;M@N* M&V24B6(G)K"@PM+"&1#=H M06DDO-VJV(P<5[EP>3+$?2;<->0S<3)I,KP!782Q.&3R<1,&LF?]E)C9;\E] MDOQ.'MNVF1#$W?T.4#/@[O5^KB-MLQ`;.+;N#*H1Q=*=T2BRX-EPGL#1LD&8 M[%R1+D/O/HR8O:09TVE1*KI,HH"%:ER_\Q?;DAUMNM!QLP$#]D6N-K3R="R2 M05K?,P3HQ?SXXO+B[N+LELP_G9+;NZN3'_Y^=7EZ=G/[)3G[WS]=W/T3G>,S ME6PM)V@HUB!ZW%]LUVJK%!2@'*<2E$(;,=3:#0=48HBV@T"J[4RE1M M249U(:UJY-0FI!L:-*V4]HJSDP#8(E0!J47R^+.DS:6B\*,V8,HM4PR+6(/I MRW5M#PBX%6Z?IJ@7O3UJXD[C3^5AR1OZ2..-;130004Z"N@$UVAO6IZ(E4]. MI_7VFT'F8*+0%X4P"TI)6HQ"%=68(Y(H,%6U#)AF]NH_"!W&?GVELTT,%[A!1#[CFJ0TQ@(@1I#8$R.J-A$IF#42_V23F MYU%\"3020).*"HI0SAC@)Q@^##(#&U:.3`3//=+F`A2U$:MH6 MFRBI85A``J4!$1*FT$@=$V$-A3I#!_2QC\W,,04[ME&.^_`F6:W"XL@F;\R0 MQ/R.&1K[[:K;;L44),!"&B6LAL/8/EUT@ZD_C\.[#\+CJ_#`>;]^T5/[O5ZY M<]FF<7A6=":;D8LLV]#QFV#9>"H]("T]E+," MT8=O9M]\_8%DQ25,WB9?)FGX;_;WIS!?DK67%L=DR/]\^_KMVW>\55;Q[/\B MW[TO1X6"'<71]NU=1KS!UC\V,27OW\X(EZ:BYPCU16=C\OZ=^.TWK\FKBYCD M2TKX7IM8[P>,8!)MBAP`]?QE\2+1#[X#"%EZ;/8L7/V#'R(2&REK\03EM_

0VXY]V\%H;/O3C8,) MP]^V!\/'2^V`&I;J6QOWIO6 MF]E7#-D!017+ZD.0?OA/;V=OWXK_V?CB;][./GS]S>S[[[X13I;]\YL/'V;O M/WP]BHN>$49B3?T\?*31^%>VVF>PADD\H!^<%!4"3S@I/GA?:.873%9Z'4[% M825]$(C#^%YT[87!12QW.W37>%W#P:KH.^$TRLZK)PE_E+!%B7P8Q3K/"@AO MN'44QF5!&8+URQ`81U/!L%VXV`M76`D7"G,](3IX8VUDIW06+VH;Y_30TV:U MB7C=H^BEQWS'.J5+&FG$6B13)//C7 MIN@?^HGF5XL[[]ET#33%%*"74=.PM>644_D6V>QSYSVD>!%YQ5_UU8S(MY'R M=:3V/K)]H6C90ZX6A+T4U7K(/5-ED\T=IH;B1>@"_L.7N$1('`I?]O\(I^'] MJG/'8+*.FLXQN?/O-S3WPI@&9U[*52JK83JEB]`/M6MA-2A!+="T0*H4+"B> M0K%(0PO&?*&&%HKM8LT*4#F(E*/(JSI&.?`K%(X/`#6\$[(U=SKK/&VK"5GW M-+S>"7S!U0IJ0'T3HITL+6A2?;(9^8<7;[STA13[+E^C6L%I02F*AK.6VBQ$ MNT;8D`Q=/NH)V;Z#&K_0=MC23`O%KL/!5Y+>;9\MZ_S0]1?577+TTD'0H[`+ MH%[?4!0K#@LTC8,=`M.NI<.S#ID(8+LIQ]"=4:EUNCT:52H'52M\*RI1YE55 MBVGDVD,-.HKM!=M;\E>,(=M!J.*_`?ADB5.CK@F=^]836-WKKOJE%4H5V3KI M*F4!)UO)BBJ3:YJ*&>HZ=TUJ.(K[%6![59*-)5L-PHN+K M(;==CO6UL#8([-_HW*P=N1J6^=MY]>;9'`X]#9XNH)9&X70?9LAVS4D MR83(QCG9-=)WP[O9-A%YKTNCI,.BPP:R>)*T+K M@MTKO+6!9#L2;L$T*69I?=M/'",/>92";1'[J*0:Y$"G1JZQLT=*%PG(WCK= ML-2G"GM3;B!!SZ2(0/OK](A?;W\=M>R!J))!KE#W6!QDPE#W])U!)FWWL"*J ME.%T:#$D#0?+FXG'TY=?0(_7F3O4LUCN$H9Z%K`S[[2KU6?^3!!N?KV.*<>)H8;`=B6JEBQS:L(6Q M&;@;9]]KP,IYVN\%'CMHF17-=7>_37'8E(5&C.8#F\R/7OH[K9EPW0!#00$J MPE"":N2,O4B>LEZ5#Z,(+-"!,%_'CPT!+#CJUQ)E=-2K(@Y7_#1FD5K$IC(/ M5F$<\BB-7XU@&2#UD8,.D?KA-E:PQ0@AB+MCRB4(JEAB&$!O9PRB>&)*6."Q MA*8.ZN4FM!00,%]AG:?`DY_0RDN@B!ETIOZ))G$24')'_66<1,D#;S(S/R:O M%DFZHFGTPO]Q\K)F<\YH_%51_4:21NH"07RA`W?ZZ7]?3#^F#[RH]@X4!9[T MD5W:",Y>;?LJF\9`;22@XYYV6-U6;*>K-ZH`QQ1)Q!Y`%,B,,7WP@$6A)%I! M2K>&.%1TWDE=FIG3,/,9HSA MVX09CE-Z5$0;,L8"JW:UIM+JLEPUITQ2;#=I]H=#^]XFG'V)*Y^8+*-@O_%B M,'DZ]N1W`VF@Z8,[VPYMT'*T[:K@V,G6;4KA\`UW%'JH@#I3%;AVQ[+C-\LX M6PYR'FJ/"8R6D4%,0?;K;&1'VU/VB9\[G3)1)Z5A`=4HI=DRD3VWZF2_\#/! M)+,[=:T"24^Y!`3N9[6-A"578`Y]B8O!&`-.DIA-:<-FM3T%=4P722HO$+OS MGFGV8Q@G:9B_E&'#/`YVJ12]MW^D^3)A?WFDQ:5BVCE]EU."/9SFBNW-:+:6 MMR-<\LEV"O4#$\M]D]Y;2?)^0L1;)D<(IN`CV@Z M-:D:QSY=VE/7[HO-6?K/8QI3BV,I762@0]QN>!TFG3U:IH?(*_DTKIT9?4C7 M2"SB`<$9)1=6G[0[""KJW9]ZVW'IW=C4 MT76'-J&C#ACWV\JC3A4LA&J5<660TR;@[G2RO"^U;(NGV!16VJE..M"!B`)@ MFS")B+UJ`0FX[SL6*`&(Q%1T)6>B"A8T*YR!&YKZ`% M$T&S\?OFX([W<>Q!'1T6O\LR#OG2_B-O4M[2PG_*+Y,ZWU'NBGS>J>IE<+,;=:W[Q^+Z%TH99O M@0[0K)FS+^TE(2(ID8(4N5JT7TPSN?L9$N&-QI6F"3\B3R6G/,FIN.!4LMBQ M"`1XS"ETHHG!VF4PS/-95_$JT6QDF1S.4E6ZY0N:9R%CS(_;EKO:TH6 M[/2S,7QU&\V=L<6"$&$[3I%V=LCAQ" M'(A_16*G>Q[\:U-L59=(==WX1&\'K4J>@ID6-DV^CY0O)+4WBI"[]DZR?6G= M&"+(>3GC:,DNOV177F./5U%`D2O#QA0,FW'8>((F%I_6P/<7[T]EW9U>D+./ M0.'G^JZXZ"0%'8&K8;9<-Z(73^.H-1@1>5%/OQL0(SOH/@T@\+A>0Q%U[X?I MT4*0_-B)ERW/H^3)N*VPD@:"S%<;L)XT%QM!Q!#DZ:W.;Z:;R^KZ8$XKW_@D M1-UA0(/CEY\R&ES$59^(.?/*CV$>*MM=JT_WF+\!VAE:,:5MBU-(.O2$6,;*E-F5^R/X@^"C<$)Q9"I\79F.W)0:\:CB^79*\=>D?6;%7# MG7W81N#977)#.3/#B.Y4!MXEPRU(JZ6=Y-U0'G$B1C9NG]J^AMPEI'H1:=8! MLS_OVJ?CTCY=`-@GFU0(`$_9&B:M>!J752SLM_QGG[-S4UAX/!;.G6[I1#\3 M*K7#N%W6[E"Q"J/(FRF8XCI7F#R MZYA&[P8P0NH"+RK[[`5"3".<`)L,%7B(K#:%6F&PT@XZ;,CNA3%W/U[>;&`903*Q/`VS=9*)NFB> MNBG)$$&'5(00;"9:(Q9U5@Q>(*#R;BH+?F2^P,GW4NGX*/5,#A:<8%&LFW5"?AH^\,,0];*O^+ M^GDF?O)I?P"$F0^!N> M9FE-:XP)YFXISC%)4Q]4IC[8I#Q^X2OFE*YY],W^Q7QYF(@]7?[[=9,/KT$3 M?Q-_5.=!FK&9:8W-3&T,9$AVS63-"X/RZC51.3\\*&NEBB\LZP#?E%3Q6'7? MGEA<%'W-B\,8N5QU(,KL30%V;)"31&E3?U.$T9M*ARWC-X4"@Z:!^#S*V/+: M>^&!)4]6^7ZZ81*T7>\/R`MIOP)1HLB`+;J9(Z$*U6I&$BWV,@JRI$87:RYI M`%\JZ.L:=$]"1W?SZ@BJ8IIF,M032+-Q2A>4V?3@AC[2>#-"TFF?(+[0I@E9 M4_'+@42.1)YKZL=9`4J+1P[!HW<(K*4S;Y=6C`=]=-VV`47`YMCZH$L(9G2$,[(61??X2M(=?TRP2,W<.BDC-6/3A#%2FRY".Z#(S'QUV1:1'6@8 MIK,`:XN_$)4U'Q+8$3;TW,,]H-!ZHI`:BPD_#V,O]@?U[;"@C"Q!J&:"X>*Z M(H9C<3T='_87U8L*.,8.&/;R;Y->ZQ=^AXMH7OA$`W'I\$66;?A5/U>+$W&_ MACA_;AJS]1.$#M5T(+?4QHDQA3"7H^0]#/PJ$C$04;G1<)"9%]&L?MD*'S43 MO6W8+Y/%@HKR2#_)$-;D:(NUEN?6E6D8M?W%2U-^+OF9IGZ8Z>_9*6F`Y;?4 MP-0B*P>0:@2"5@.&@#ZFXB8T.0A%/##HDU#Y)+<9PH*0IX($GCTU'5U2YV;Z M%WDS=BP+\/; MT5QN^?@CIOFKZM"F($%J-%"E8X9AOV9NW0_7#.66!S%;Q1?((TX`58)B0G!@G*8$B\A@,6N0>U[6D>EL:`L'^WSA` M7VW*'0-3R`>0>!DYX>+^LG6V8/;SJ\79LR^Z)-PPAW<5\]GRZPO9?_@&WB-; MD]EHNE909J'F#N]&:IW&M3@NO5\!KQN7 M&=&$BLP,@;=NE+09K1DI:)"6P%J*E`^\[*R\*S_D` M-$ZP0W;Z#EZW"(Y+><\I^\AYA[#WG&NMC85V2GM`FF)?_!E$Y(=,?%_NBX?1 M^8@V.=(\SMP0(K>K3.YY/C'D[,=M[60/,5? MTB6<<&?Y!8*ZR\F85#_R5IUR(T^<'5U5"NY[<0+*32RW`2D_S'-Y^7K169'.X3J+0M[G#O)L"V$WD*E#-N&NU\M(7'F#= MA@]QN`A]?MIB2X.41+`=:32":88'[M;N7GE4W[W=)XP.=V>WPM2VI^L!M[;@E]+*FB(;K4U-O#3G;*C'>B2)A%$9T20/1)T2=40 M&J'?'D=QU$NY,;0&H2DYKD_7?A$X\'70,<1P=BF4[$I'R8[WE`QKT#$^I[KL M,+IP9"2=TENBCJ)0#HNMD]4JS`N;%[/IB0PSC?UAE=5&1,'*J`VA-VJFM^.+ MP[UU"MB"D6G!XLX)6\FXNK+90L"1Z;1UR&!('3I",&:&O>1C=?W3L@"=N[<3 M?RWO;B7[#I.*]('/S;C,MG<\E(M6`&I$H\6C2(ZMCX4&996PKK@I76B/K,$I MS1@Y>`V2T'Y1#W:_7!Z"`QR&M691T/DZ`^'5R[%K2Z[#+58OC=E4>)\9L7)6 MJ67[[F`G`;"-5P6D1F\T^2PO=B]R3J"*-A@/[YYTR1N@5WC0.+1>25/O*/>( MFGJ:?'3`<=<.?5#;!94%H^2HIG\38SF@03O(OJ$4;- MSD1*2813+6-GU$T`;)&E@*0A>=A\T2`X:%Q1KYRI%U<]0N8R%QEG210&(GP6 ME>LO`S*/"EK0+JD':#.E5GM\5ISH>"&_RO]B74@9@I07+\@[IG8&HW-3.H*J MF2/LE5)WZO>3..J?Y>&*MU/6]5%[HZ`<4V/R^_+UD^P@4CZ"28_L$%5_0^.( MVB5(Z7U:Q6?0%\528,((ABTQQT+DC868.HC,!CO;MG@_DG*%]'"T-_GB6BWM"8&<3-)H26!D$EY>_^31\].Y95'67>@&=Q\%5OJ2I/"":;?\^CZ+D MB<_[/$E/D\U]OMA$Y5,%"MV`8-1W0H43(S.N>9]<17Y&Q`O$7KEX17EX.R/; MIV:D>@UA[R'EBZIGRV@&1>0R,?-:^".XMV71HHU%:**D*912&6--H)&#(K3K M-/D7]?/L(A8W96;#8K)>:K!1F`;8EAM3Q1!R$1,YR$F<9=OE<`C$L(*(*8ZR M0*03.:V;J+%%2KJZJ1$;:2JFTTNRUS3-7ZXCWB,C#JJVAOWVI^NB8#UZ@)=G MZP)N45`QE`46D6BJPAQL-1Q][F0$X+N(T00/IC+<=U&UB0`[O-1@M?;"E,_D M*F6&=9UD7E1N?`DC&-[H$5&7*5DI(03_&(NZT% M+5(0PZ3K+E@C&!#5&(#&08^A''HW.MAKACL3P58H-'R(3S9I2F,VD=2+,]X\ M/XEYN;7X9U1TO[;T[O8O@'+W0UBRKP:2%BF)D3HUX1OK]!#9""#.%,.WC"FH MDX]>*-G%R]@0;=4,5A]E8#%4=YS6'&P3N#QG>Y+2(,SY3Q8E!YVDH.,&-4SU MK@=_:$:*`?(?>-1],M1\KZ>`S+7W>).%,<_#M&[Y@(<$&E*L6X_0(\(N]RY$ MXZX;ZB0 M*K?71<_4)?83A':,.I"U5+#12A*!,HZ.''\726T1UO*'NO+K\-:!@'WS/&31 MR(/H#V+I$_O(@-T_T`NOL1N\'5$VVT'N#0=A1.,#-051?>>`EA2Z]'\993SA M]]:?,OV.$I$,/WOFG7EH9Q5,CSWJ)PGO`W5@-[U@,4JLCVKCB!R(20\G@'^= M)L'&YZ>;V]F`T#-J"[>F;]25;(B3-=746E]*-QT@/T07UF MS%H9'.XAQWZRHG?>\]!]XBXZT&Y;`;!Y6QQ_E+!G#\8K6Z%#N"#M$T.]'5FU M#,+UU[!FON*U.Z9.Z2 MN<9"I0=5/NL2A2V`UH>^+W;%<8B=H43:>LSET),`?L7U[RM,-=+V,'5*I1/! M"G^'%:&@CZUBVE"U-0JGS?1ZV&%9+UN>1\E3K6^9H4O7I@-S];H6P$8E`#_0 MR$?M=HA$YL_'!NC>!)29\U7(_3QAZE6<65UP#H3;5X&8%CMM4L4U MABKIL&;3"].?O6A#KQ;G8>S%?NA%%W&6IT),NA-RR@66'E'HQ;HN]$:U(1M' MQ$`NV]504AOK=,%A'A0YX`":B,!*T+4R`"92[DZA/]&GVEW#:1*S'WU:FY%E M?L"8+E3"P((!S<7UT\Y]W3M$T"<3IF8`N$<>*NK*S(.EG",X,FF=3M>@".VK MM4`;'9@DO]Z)-@58D^U6B,NN30'99)1W6N"GID3WMG7]#"6%/$,Y5!1-7+2V M9#O<#_>7--A$XGZIF`E(QH]<7"W$_J5Y-U(M8F![WII0&WNYAENQ9\2OT3AD(]E6[V8;"#:$[K;O MML_3E'W7(E@X?FG<$S=_\M)`B*ZIAQ[OQ=".?$P6JO2H?H7J3CU(_07D_J7M MKE4BWB*M#*ZHX/#9!QYBC*[$>AW01]9@A^7MXM7L+?/G4+L%[>X@L-+UO:DW MBKB%H/('R*_\$1QAQ.!9PQ6@MXF*NMR\14Z@:U-U5'$[[SC@BXM/WHJ>)BLO M;&RJ])JC*>8`[N6G86QCN+\[H;+IN>#I M-,UAM=]J'24OE(J54%'=^R-=W=-4US-W$P"K\%-`:FB\?%8F`F35^Z_%\SC< MMPF<.HJL$P9<)5^?L*EK^'HDS9W2_.)Q)<\[%45IMW8'0WO6?2C[$B7_#J82 MDTX>W(>U"I*6\VF3(D2!;I?GNPQC>I'3E?;";X0WX3JB9"/@X'=X!\0G;:RT;Q+`Y_66C=H,I5X>@;LY`'\&YHQ#%[>%F]R%)(M]`[A*R&YKR7>/R-2ZVWVP+_2?FWV:U M\M(7GB`7&V_2#OEU5M+V\Z8@<=?GSI,!1R5<*%HW)T@J%2U/Y,YN4E.T)_D: M;,:)3$F2@];'%-?:M1GS_L%@`3O1TZS38DS4C76/*)BO"NT=Q3&8WR'O@%KOX,Y5)\B+R M"\*4^DP_Q[]Y:>RBH\-C(7CR>!H#:5U]--@Z#LL5%9_\:C&/(AFLSZ5[-XN) M3 MW4:L->I/&UY/5VT^EP=D@^++\ZY2:T$.Y5:JF:+K;I4::3E$.--]*+_C:&R/ M!^BA!Q^P]`*V:5R!+00Q!EG?@;`"C"#XT!-ES6A#2XX1])DY?E&1.#^KT<,-6^D5LF@P];%FS0.^9J6J?AY^,Q_RLS.0BLH0'DU):A& M'][R86'?R\=Q'8<>`&C1!PC,4_6+GM)!]A@MZM9AG&]+41@I'-IF0W(6B?I8*X+W/U1[!NOO5^ M,KU2WI[OY5`$BT+A^CS,MM>Z"8`5K2@@-0HXBF=G9%?VL.TJ]7XE=7E&SROX)1:BLGJ:W]KJ[BH+9T:8\*`UF0QA%>#8NH'9N:)N?OM6B-KZ[.T>]>]3' M)DALH0`=';:"VA>5_=-S"&O01L0!'N%V"YI6:-LI90ZO#_56]&JQ,Q&SF+:; M`-B%H`I(C?,$[%F^O;`K;[@JPHSQ)-IXX*[R[!,[]9V=/3(W:&_N[_0IHGE^ M[?F_>VE@5K:EH`![RJH#U+[XR,>(?&ZZRA+;?I_8<`PX"&4'!=O!)I6V:)Q@ M4JC*("7^(;E/+F)?KSRL;0C,IOG^M)LK@?N$L`>`%!/EC"VVL[4F'<8^EMWI M5FE6[$.WB?(@=;JDWOH\31[.8B8?ZS3,:*;2+H6]4%*"]9$](/>%A#].^/.D M-@!0.0\:V0`_.A8X;)Y51^H#^L1M7W$X"N!M(!ZS& M7B1[CM0>Q'6F""N6(6T[+,%@\ZI*O=%IN:%0FD$*/5]Y_TYB0R^Z/PC&AS:G MWKBO5#PQK1LT.^%7ZS7;B'*=DF3Z+P\90^TB@119_S M>QO7J:`#ZS^5`!M"4CQ,:D^3^3V^Y>MP4,)2AL5!D=)"=87]X!L MG"(H'B?;Y]DZ"E!Y#QK9`*]L"2[<@O,3,+6WU11]YZRA<(-,PRF-ULOP+**^ MR)KY_':_6V]!\Q<39]U+!<9U:X#;EZ]B"*F-(6P0*4;A\>OC(/,<(+-P^O;@ MZ!ZX3(S"$A'HZIHB/M!4-,"CE,7$%3(%I)%'HAS3C-SYMO,BL,9\=:>#+:@W9H+BXMD:);$F1DA9Y M):E]A:NCW]B<2`PX`>X51]`)G2MA+13"H4?ULN7YZ<7)19QM4AK,5WQ^QLZT ME0BX'^V`UO`T[+D9.0]"G\A'2?$L+N>IB::XZ3"@ZR0+<^(G[)W>`R51N`KS MXJ+#Y"EF_\^3L[X\2XK/F:JD4L^/*D32838ABI(G?B'=>9*>)IO[?+&)FFM, MW76=)C6HA9XVV$:>H1PH[O`KAY*6]`.*X^DCX0Q*G)X<"^X/[:16N6PT$EEW M>GD6/X9I$HM=L>@DR<1D$N:F_TV#$V\=LM_R'R_BXGY!4W]H2A[:4YJSH]%: MM4Z!"!)D2V-&:E1(&,L;2]&Y'4NQT')(=C+A3B6N\B5-;VG$"#]\I"Q"8$%I M',R#51B'F5B//M*SYS6-,VU_94(2RFF9P=X7>S&:R.&\3Z`@(&*K71)$TD"0 MR1R&F-EQRM8S+'1,4QK[+X2-B+.HR-*$L1]M@D+%'VJ\\'9Y0=MY`>;O+$1? MZ?3,Y1XP@\K,#?\%6R.\&YQ#K=."]FD]0-7IQI0]/R/;$0@*$2UQ;?\J[I#F M67Q3N^V89"Q']4E M"^U2]>%W18WE4%*.)7SPC-2&H_).]H@K@,QD%_D>?@<04Y&:R+91E$P#F&`%1;.KMFL;[!`V7N!JED?Z!JJMX3 MAJYW2WI2D\;*<.[9S:M%PW+>/25CAK+#)H(YM!W*8HM0E[V2U-^YC7WW0E]^ MTIW]IB7Z9>]&L`L%R=_AL;"X]HQFE/R3QB@L.1H>/_6'Q@U'6?&Y)51FOVE& MRX<5*8]BB0='SF.880>1=+OSL7;;CER(=2C0KD0&D;1S:SXR5(LXNL?XD@.* MH]6?OSV./JRXN<6$#>(6HI0O3+X7=41LQ+SI,[V?89;7/*Q]=9ML\B7YG5^% M>N#!ZI1LLDC:'E88:F[8'&9K1[E/9<-;";``MKP65"^0;`X#ND^E9?J-IA#B M&;&P+Y]"D$9AO9"@@8@.^2-U9EY)`;'$LO9R$65&"PY>N M+\5R5K*Q/$R]K=#Q\=[WTJ?2.AUOU?J,<_>#O5=S,W?:*0"UR)^8K4!['OSM M""(E*.YV+0WOO/")+0IEXFR[-D210@,3Q?&J>G+^*BS!HA.+J;H0P8&Y=+%# MT>$@%*[4A#!LJ&O&@B'[%A`6>3+@%KL8>$SOY.*@40\$9RA'4EO]H-C<&`P] MFV*7DM/>B1WT!K!3+D.8TJG^_1L5\_:2=`S;N%,QQ:!"4KU3@6-G=W(V&0>9 M3PF6$',,8Z,^!S34TK@[XWM*%Y29^$#V.IZG*9\ZG^[QRQU[^5U'QS;E04D] MHM#G>W6A-Z]^*<:5C:]);>2,'+\0/IC\*H;CZD@\#>)[-6+P8[M&(JYU:-=$ MOC&H,I]3Q]TXK2T+-"A!];'0`FDBOU)V6R_%<9I[`T$(UA5#7UB573*T)16+ M&G9>]V-IPFHT\?K3'>`6HMMQ%Q!27SH16L1^M"G8`]UH0ZH')1>N4[KV7D0( M?LZ@GF_R34HO0Y\WU3FG-#.Y>%*3%DS"0!MHHVW:=B#A(TDQE,BQA`^>[GH: M\QVJ48#R5:Q3G!;+^'&`\B^Z*)!&$NF"#<:R'C?33\7*VT@Y!]YB6YBNL_@A MC"E-P_BA=IV]TJ@H4KG:5&&W7PS`=[J_VEA2&PQK:3Y+S`,V5L8`36N@@QIH M,`,TAO[I[Z,8JC2&9*V[B443KDA6,8,"+,&31$ MUC)IL"^OH\0(\C7]UXQI6*8.6CCB@4Z@O:*'X;JP*0$JK@'#X-^U<5W(*Y8R M$GMI6K2W7R=IT2QEP?R[A)W*[QHG0"=![57)W+4K=7+4LT)Z*8K&*!PGA5K$ MJ7EF!4%N07_>M6-"&'(%5A/'D@/H$G6#(T(0ETMP6\A[)2UN\\3_W6JSO(,* M=#:_$US+'07R07$Q*'\4Y>:W#:"D!Q!X3EXM@KIW+73+'Z`R&2]#%12@5I]* M4%J*A&VM:8LHT4$$MK+L%S[E@K)7\H;=8NTO:;")*#]4L'W/=2K#3_'"BRS; MT.`N.4E6JR06O[);:`Y]&>Q*=#BK&C<]2XK%D:VZ@E94I6`7=,E=0@K*I;QC M7-!.R"?1"JVN]NN*3YE@2%CP*4]XE2CGD_@UIF4Q/NY@6T./9)(T%MGCV"/` M,.9VZ3'Q+7Z=TZ#MMAP]E]0@A":H:8&H$0G,2#&.5`,1W!8Y'%LF!N",U33` MR&^2+':]F+=@O"2[2+TH(E>;/,N].."[>]NA^Z[Q4Y*3%YI7!^U`KL*UU#*K M^*]#5T=)!FYMGW@)XVW%UE_"?"F-H/B;6>AG\P+8<,^.)=U9R)K<%K+,!;VU%BZ7E=72UJRP MM)L`_`93$U+3.M0S:1T5D@@V83H^CN;^2_N7&98SYN26210PH3W[8Q/F+_WE M1RU*U$\&QFWJP&N$MK4QI!A$Y"C`).T$X+XLT776'`&99&VA5)AE78D<%FRR MC[ST,I%TK)3S^.477O,4YT6ZT6QMK441=C&M";H1#\AALJ?=UEP?OQ`Y5FZ- MH&DM:HE4_CVKY>C7)?BL6C=CW=08^GGWH/%3_T_R\Q;\P+8,-E%BC76O@08[ M#`LCC]\X+"=QE=[PWG7E"OV6^ILTS$.:G7A11(-JLIE\4+^R8N!KP'8J!K.G M$9!RBEP72M.6I$0\/"/;#-*6,BE(31D(J$E!!@1I6X\2+>+K6S+M\'EM#'8VOI?1._9\*7/+L>N>HB4%[ M@CZH!O*(M6^,UM?4LJLZG]*=E-[0C#+^+.=Q4#O2??;,[3K5ZREC0@K*7NK! MW)?3C+J\/E"HT8S0:LY_[=%$=1O;1@W8=&H`;ZX%BB!#4:A"X2HZ.THMHMH<1[>:AKMCJ M+3ST9-:=4GZD,4V]B$UH'JS"..1[-/S4N)67U",&Y2=UH>Y+JQPGY'5W)+AB MNL*)SD\:B:W24YK(K#NU'"6._'MH3C\_.1O_]T9-WE[#',)W* MAXD+G48VAQ?S-.8@+8A%04\O*<"B'@V8K;4OY+BA"EOWB:ZZQP;E9K7RTA=Q MQ(B3D+KOUP'3@@J&LM)A'[,;&Y;R4B.=[*MGTE1(=_&!M&^RN+]K>J9N7Y,J MM#?7!K\ON]7`3N]3HK7SW8=37GD>OOJF:S+E6]' MD4N"XO,-Y3N&/"^\B=/M"EG:.%6,#1Y^@E@#98K+I2EPN)W4OO"O7_6U?>2Z MN'5`8),3KG5&N$FBZ#Q)^1^--Z&FF05TB#T9[OG_9L;/R?85= MG97V+&1!`A:_9D1MY4!P38$C9\ M#/,75.L!/)P:/U\39GZ49)N4?MR$`;^\]B"8DV6;53&<;++B@,VC%VWH#LLR M\L!EJO@SE:XGFP4A\^/,%93WS\;9)LJA2LPA3+K1-O&47N4@7711AJ^[^!G_ MQ5`+G2E8Z,@'ER=N$!RC<<'%[?$B.:C."Q2+.1=<<(%]+;;Q;G,OS='A;TC! MF^ISM8I8X2/\I1^+"M>^&_86S^C1;H>3Y41 M@V33!%T9(-?D>HPIW<%T/`CH(HS%[BC4`MR4$^TM.@Y^L:PPZDY6RMT6_7`< MX]GS.A2MW>(*B*N%@QC[[`9(T=ETIIV.P"LL6)MRHT#:OQO'2UF098LMI.% M:W6X+Q#JAH9[TN!8<.TZ%-:'0@=7NS`Z)*2C0RVHCQPR<7!OU"(\6KZA*3GN M!/[',`Y7FY59Z[_=05`6>W_J^](B_XZK7]_028-9\%9!45KQ-BEQ*-C>LU*P ME9J\.QC:FN]#:<'6.'3A[/M]LU>")H][A&8/$$>2K^=B)>3VKO%^M],0-23H%? M`NV\E`8-I^=QS&\C#4IFO(0T.J!MA;'4>YKB1$/==FPV[_L1W9L@NJ/IZIW5 M_L`T,X&.:"9E,H3%Y.]&%78YY7#%ABA<4/+JA7II!G+-,90^&6>"IU3K`PTQ M;\+L]_.4THLXITQ;_;%A<^#`DIB7.9K4 M)ZB)@`6'/=`:*B$>(]OGL)4):'TK=:B@\:$<-@G?G83=E;GM1*!=:1>T/IG# MNWVO_%AZMQ4IOM0!Q):ZI6:3K\JU)W)PJW(#%K='DB$+XOC.:E7*C:EM@-BNTP?W8S)^T>4&+F4=V\A#G1]`^ M'=?9J0YGK(^`;X!^!X-=&V51,(6I/8`BNUUTWGU$]W!5=\F=)+&XK7?C16ZK M[P9,$7R-`O)9'"QR^(Q:O-[VXL':M#ZC6KY1/XLF]R[#Q6XS-I%@I/7OT-OD M#GX%`F>?IJTA'&R<='R$N$M=F/ZWW[Y_*PR_O%Y]8*K+?-I]2QNP>;E>W`!^ M@/8$N^9&!FG9R*A:2->F`VK<]9/9#Q-]P#@@F'2*#R_VB MM&*P7V,P$YX588M((B^07B=I(=W)HKID,=ECO[])4S;EZ*7^(?BVD\\O]F7C MQ7=A"_XOK^-_QC_&IW?QW]E_;K_D+UIY^4R\D#Y[JS5_\,OK=__\\..[]Z=? MLCFNV3<2"89\R:?,I\-FM6"S%3.**>'U_8Q"^$C)B@%9LCB+3RI?ANQ1&I/` M>\E>@Z_NH%U.Z_H.V-^X6^&=1%Z672UDNODJO>'3[*BX4H9BW82@5TLJB(V= M"/XLN5H0^32Y2HEX'JBKS,C`DBVP1`T,/+3O%4RM`+Q/*H$5K;/0K#7_I2(! ME817PS)0+Z`N-Z.!:E4MP!(Z8PG227?V2^"@=>^"?B'%W?"F5<>`&'1RMX3W(02,1M MJ2LZKE97XP9:!E_0NGM*[I;))F/KF#L:G\F+['M-1!3# M"1M/2@*$42`E"7B#,B%J)D5O72*U2'^,!35G'S@O/S#304)+V*!&9ZC6]2_0 M+91XD!DZI_?IQDM?:N\[B^@CC2_I@Q?-@\_8,UK(021XX4E>2+N&+9:R MMP\:(9:U<1AD\GYD7%DV7GD1\RQX]3JCR,N((DSD90BZV2N1#6^U9B4)E)'7 M**B%X7((TR+L&@5GFXT*2]C8PBX;)5:$718:[,`&7<6&'<'MB,,&7.:L&&*< M&!V,H=983,!FJQQ`UC);?/<86VAE:0,TXBH[`S#0H-6CN',F2'Q#?O[`9*-O M]=AJW36I0053VF";,KNW*"Q'$S$,]',"R[)GS.S")'W"T"&2"0OT3^G*UJ%]'+D.MN^2:B='2RVAQ,%R< M]9W?9Z)03B\DLB2](DE]+HACB MJ"DXPNMB:QRIECMY0M8E1^IM!C!$7&/R(;/D`Y:8;+#14-7Z#K08,`=N1'N$ M4X,NLJ.]#S;&&X5AXQ]X$=3)*9;&KA/R:D*D`T+"":$&[(_<<&:UMF-^74B\ MW5.O]>?64D@\(23TV8\VPO#*8R/8`LSQK)%&W#F:*3(MY7Q3A/N\ MD/N]_)E;Z/>U$N[BM[\5L?!JNVK/6OL%=`6FFE1Q"RF$L8_J_+NVW!,M,VK3E1]VI@G ML=Q/[T##I`&?8_RH2K8FKLVFMD.Y=^*R?M2XF!*"9GF(/H98Z%>+/+;@^^GU M[6L9II15HSC:Z2%BVC0]!B'BW!&YD)!9_Y&%QG,1'\F`T%>\XV@U]P^TK M9[4(N.CF^"I)R28.\Z^V?1WSI9>31R\*`W%X.LQRH=[<1.P?LJX?K?;$02Q^ M(OJ^..7.XG!*HT;,G#75AC*G?TF?=T4.Q:J3R# M%DG@I84F[/8(M$7=7\FQ7P'N0TV%M\V\57A1!98CH*QG1='%7";*JA,G&6CJ M`<0VLF_-SR*0+VXI**ZM3?BO:B%<9_)ED@L'E#[PC2&Y]"W[@-4WTMMO*#B\*,W2-DQZ MIXJA87"2VN[JY5G,M6_+:(1\@GO/7P:?673&0`DX@"CN@A29,:UZQ4$TM;,36:T1VN<:FJQ!QKLL MY!7>X&I1OT;LFJ9B.F91N0Y!V"A;#_*^2E1'!,0P?IB@R-R6QI$-+2PHHASM M0*3%];"\QK-^QR!9,Z39)$@'1+L30\46B!JHK49@J:^S4]F:^2K9Q)IGF?K) MP(1R.O!,K4HQ$$&8-0A&]S],RL,2]G@;WX%O>)A2=FE$5R\EN M-H#?T3"%.=*_5VU<6W0`1EQ[TZO:E[R(\S2,L]#_V8LVT]RJPD2,<-#N&/:X=TL%YS5/DZ8[RF:D+5=4-FV[3G:ZX#J M)49DUU066[R&R/?`7]H\(<<,#?:]8,QJ(L;8E%),+DW#+?8.T[!L)XQNM51E M$R.;+!SFNBL#-96/;+[[@,/N-D8ZL>8SB"00)!>'6/@967AA.E%R!RI&UQ>] MX:;_N,[-&C,_J^"]TRA.'<5W6<3#V?D0"+.+N-BY^87RVX=I,&<+>^^!BC_R M,L%S)C=.]SM,IW6HNQSF[)]R;Z.8#0ECN3D^(^6,B)Q2\8@HW"9\5I_-AL;P M#U&..?(DJX2%+II<;NUNV4MGWXQW5D0>;)K=TK),FERW,RL'8,T;/8*NF)"E M=TLO;D7NK%#)=%X'6\1D_@$F,.0M7?W$-'CKK[C;S"-8BB#@_TD]!>2X.0ZE=%)&9&+TH&=X42.QW7AQ81X.UL-`653S659D2XU%N1!:O@IB5/J M;]*4O>24/M(H6?-7GR2988\O%2'83*4:XK[DU9\FM<<)?Q[1'KXQJJ,M+!H_ MA#&EXN>@!M%G@S/V_[RTY7XC$UQW%YAR?P,^YCY2;%DX#5742*GUZ^$@>W%* M,S\-15!PM=BC?[(5'#V?K4L,QF'K0]T7N]I(OB.Q;T5(;30"1ST.SF1!/MV< M"<5"8$&FA+EO1^IPL>SO&JJI(APQT]&I8I&KV'"OM8<6VHBD`&H4E/!;S0\C M,.D`UV8V^-*?>OZ2*]PB3-E?DYB251A%7`MYCG23@H]*5#"5/DT.)'(D+^.LQB(+4@PQUK2,2I!A MS&^/8BC#F*S3)-CXN=@"91JR%)L?-77$%JY8?^$2?"J_<)X0KQR+,7KIU5C- M(*9/71V6N_A+&FPB>K6X8?(5;VAVSIAQ]IS3-/:BDTV6)RN:\CVHRR1^N`P? M:3#/,IIG=_R6*^,BEF%O`R]-&G3Q=W9*;F]F]^=W0+6FBHG.6=?.?0]IA-%/3AL_8.:G_Q^ MTJYI.G=T3?EL]6,-X73GIN99Z!7<,G4YM9'0[F,'1$-XV1_!!'>B:8,[H:;8 M:#F4ALRX$_2S39JL::>HMY:)[XR!.H:Q-_%&]W7Q9QR6>9PI@YT*:!,19IEZWIJ5TX-H0[D;2T;L:\R6#!%T9OW+<"3EU2,S MXG:S6GGIB[CTGO+,H^3"_0MYV/(HI0]A$J/QA$.T0>DQ!ZC"H-T!^:)KR@0G MSKT'^HD:%F"W4H#=;NP`U>&\R/8YPAY$L1*RP2&NG9`/8MH6-/P:6Q`S;ABP M[?ZI%$9CQT^A+2[R@;=GNOE`]B14/E!,LN$NGFA`&XX`)+^FF!^>M5OSBRLS M;-7G'M;EB#YP(W$1+Y)TI;H27,^U]),#[D6D`;`*VYNYCM5ZR3-^?Z3G&-OYT<-"E"+,26H1@&`>)@O--+J M<9+)YU$LJ::#`[92ZA<[Y7JH5^:&^:EJ__;,2^,P?JCN*[-T5/WT@#V5#N#. M6H&K!2F';>\K1.JK;(`>>[SAO2AY"J-:(7=.HB137%P([;>TI5C'<>F*L,.= MJ;V)B,\TCX/3XB.99AMUR8'M9VG#;>P;-91S1K8R+<=C2R/:PSV>WUZ:8U6ZL$/,UW5,S(PZ]D6;* MBJ[N<56CO6UH5]#8O5M(D$'A:T=G0-D^+ZX84/8T+?A0N\H&C1,>I!!:FX0V MV@!1R#N/\U!$3N$C"]/]31KF(]0..Y; MP7J(CLT\5?!>?P79OH.4+R'\+:3VFJZ(O[WR%R1\<,?`1(.!BWT&)B8,A&OW M.8D*J[MY3J&_[HS>21(S:U:@2I MALBN^"B+3=U`!(]2-`57*R[1DUJ'M=K#+,GQ2SN!^7.HG2.?<@I0,D\C]-&#CB\T M`&NJQ8SP4>378ARN$,,92O`H0U>`]0[%Z$FOPXP'CW&*SM1FYV6:`\'R#BT0 M&ML)14?YXJGI@G:+^SXT)E^$X5//W2ICH3'[=]]__RW9@7#-_HZGJJQ7$]1K M_PXU@':PVL'"I>U9H='>B]-A6S%0-]XUSE)>=A\N0A@&N.&=;H)2P3NDP86] M\@X(0JPU=U@K)YI?)MDV`VIS7T4/#:#F37W`&C5P-"=\1$UT45Y&,0:PSK+9 MP7ALFC#9`-JMHD+39DE+FU3]E714Z6!BF_F*'P5P'-C(EQYX5%.Q3NF6LZU; MICMNV=]UR[1TRYUUAX<MDP4P6Q/S^-_8S^P^_@H[] MX?\"4$L#!!0````(`,]%!D<3M-CL4RX``(!0`P`6`!P`;F5O;F0M,C`Q-3`V M,S!?<')E+GAM;%54"0`#)E?#5297PU5U>`L``00E#@``!#D!``#M?5MWX[:2 M[ONL-?_!I^=U^F*YD]F=-9E9\JV/SW9;7K:3GGGBHDE(0IHB%5YL*[_^`"`I M41*N)*@B&;TD;IL%XJNO``*%JL)__O?;(CAY07&"H_#7=Z3]>_JB`(<_GMT$G9".A>?CTKGSW]^#_?;A^].5JX[W&8I&[H M;:1H,SRYTR]?OGQD?R6/)OB7A,G?1IZ;,E4I^W4B?(+^ZWWYV'OZJ_>GH_=G MIQ_>$O\=U4$@!34_8ZW])5TOTZ[L$+Y8![3;[W3Q&TU_?A2@*_?=4D9]^ M/OM$Q?^MY,<-??)?G*YP.(WB!>OTNQ/:\&\/-UN]IXU$/OK@18N/].\?I4U\ M;-B_BXBVFB"?_)!$`?;=%/GG;D`Y>9PCE":_A6Y&3`GYFMTU:?&`O5^Z,='> M'*78

G>,D9S M\@Q^04&4)%E=6#7>T#I;%VXROPZB5_MD<5INBN8F3%&,%_?D/Y'_@)91G)*/ MCV:'!<)-^_28+19NO)I,'_$L))\YSPW3L>=%64B;OR>:\3!*-/NHV5C3/E^B M*8IC1+3P@L),NW=[8HUUET;>CWD4^&0AA<+G++Q-`[I0*-60-9<^@8E:Z&QQM",-GQCO&K@"#;MRQU*;\G$ M20;WXYQ\[C0[LBO5?"YX3M"?&<%V]4)5KCWJ=\0LS4F1?!JI-S?I-GH8#$_N MH47[:=U=`E2ET<)$_H M+&M3JMWYZE]5W%4>R;S4M"^=9ZEIKQKVK&\DK4;%H7"+?3)S,;E+=AU$/> M>4H0Q_E[0C2CODIZFO*%GJ:<_LP@%+^^=9^1H,?5HYDO6VWE0A__Z^00/EV1/U"_GZ+4#6KUN")YH+[2\5.GIVNY0^F4+'M1 M/9UN)"WV-=WOI[$B-QHDL]0R1@D]%*5S_RWIQE8'R72&R!?!+[M(&VAPR,K. MP2-OZQ4!/7F.8N6DS7[EE,V3[_X5:[[B.QD_)VGL>FG95$!1LA=8JM0I6V<;S=5S?VRA;)CWN<;1_:%T]\S`]>WWMS'*SIGL;1HH8" MR\Y$2B@G44SVE;^^(S)90GH9+6E3Y0>T90XN")+8#6Z(I;[]$ZVD).P\ZXQZ MS,(^EI*&TP/S,"8P?`KE.G!G`OUO/>.<]5+ONQA*?8\.K.^++*8PKW'BN<'_ M(C>G7BI^!T*I[,]` MREYO*B2FSWW6^;G7ZM_%4O+P$Q`/FX%X37Z3*)C8>=KYCUYSL8^F9.-G4#9R M&]'GH_*\\X\!,+*-I^3D/V#6I_GW:GW"2>/5A+3(1)POO61&`:DDYQ\@Y%SC M`,479"*=1;%\Z[#UI'/ZJ<=<[$$I.?@",T"BQ2(*V1$&<\(FDRRE4?`^B[.4 M#1.)H'/:YQVV"MEFI\=G[..N.VA7$Q9<1":![;6L:.HFSTS]6?)^YKI+:DH_ M?41!FI2_8:ZEBDT5OW;6(<&3Z34.28! M/'6UI]AJQ\6G`;T8F.,D(4M(C=7:]H-`SCTY$WS6]CH^B!&7HRJV^]KT[3P/ MY!84,R-C<+_O@R"2YE+2N#SR/QHP_.(&B$;JI1=N'*_(/O1W-\ADNQ`M>2!O MHY)`P?I'$](@^"\R`9('Y"$"E7R`[E!:J$HVGB5B0![,FFPKD%C[OH*R?!.^ MH"0/PKT)[Z-7%!,#OZ3A'?@YHWCNX^@/Y*6R=9-V&U!NTYH&8(1+'`S0)W,@ M>X&EB_VK-QI$C@C<23HGL*MZDQB"AC247[:F"6@B$@<>](E\79IWX,.ZH4PG M]=V^B\,8#*E+J\&WAQZUT1+%Z>H^<4UOEDMF^BO;7VU004S[B98:FV#=)IS3 MCCBD--P;)IB&,4HKB/7]'V(AYQ36EV5$H-(&..`&M4V^=U=TBZB_0=X6<$YA M75X*IN0[Y'TH0Z$VSDA']U0C9YZ>BA)IAOH!S"NO; MJD6O&,HPO!D7[A+392%R$S1Y#O`L+^2HYE@NZ(Q@W5BUN%9#LN;$2*LID]!+ M,*.EES."]4[58I8/8PA^#8'-WD6A5W<(;V2=$:SCRL+R6@NCM<]T-X:UWGAV M1K#N*[M[)XIF")X2:6U1\4@62SDC6(>7C3$L1S>,DX5:3C&).D>P;C`+M,O! M6?MX0Q\F5@(+5?$BG*>=$70TEY0DX9$A#\<@/"*5O!1E^,_.H\X(UL%5BTL> MB&&X/<:^C_-NW[O8OPF+I:3,L\67<$:P?JU:O$JP#,/S,?:\;)$%-"6+12Q< M5*][N`F]:(%HW;/K*$9X%N;;1F_U%+MA$N0,^G]D>>S+'4HGTR?W3>[TM/TV M9P3K3ZMG5NWH81AKP`=:6R]$_I4;AV2)FU24=8FFV,.RM:!:V#F#=98HK@0QBA&ZCO'?C25-!_@:Q#!.)'@0Y87^-"6!D\J;TKR-9!BN_FV< MM_C/C#J(6,(T_0,*/?UIG"L-G4A>GW0AG&$X^?<*5VHMU"12T/GB)DPK8%AS M^':%X1I+-`UIZ(3RFHS+X(B+@O>4>\T9C>0!"7%>\UJWJ+,GF% M8EC/5R-^=W"(RY,W)AGLG&ZMGV0RG2Q1G&<-@%5KS@-CUIW2.)832`"DLDFB%C-I0*N]&,HD0,^8Y.R)OI&RN'8^G`"IEX^HH"T.2,(O[GQ M#U31C_147"0$?.I6@V,IEH%\7U%(U!(0B&-_@4-VN6N*7Y"::(4D\%E;#;;5 M@(9Q'+.G&I/O,O#)6@U:>1#LU;OHP#)KDUVB0^3F:>#3L_I+JRT(0RAVP3*& M"O.\Q(D71$D6H[LHC$K(.DMH[4:@C]#,F3>"-HS#EIN0K/Q0HK&PWGD2^MC, MD"P^XQQ,C1?47W)60S2CGE#`D5[513X6U"3+!:$/SJQPKH8XC"5W'?HE:H'U M=UEA7HIN""ZQ2@(PT6!>Z24C8#=',.=H&L5%HO"3^X:2;SB,8G9]:#X3DFW) M=BMY.MDWE,XCOW)=@?+LY""]@#X'-%YB'%@WPP@+6"NC&*[G9`^(SR;$T!C MT@MWANXRFITWF3+,E:`E?5.HUR!TH6OCV:`^S,U.L^?!7UXE^"M9!W]%4Z]: MGXALVI(,*@:L4AL@)YC5PMRKGF16LD&G)8"8L9JKJFZ$5&IK56^Q-8RI65;L MJRSD=1_%C+,TOSV0IO$^1?>NYBTQEM[0E4(13:W(GCJ&X4TTK39'L%/5A'[= MBG_MO!`X;,^B59F;;2.M#6(6Y2A&PQ(E4L!A@]9F.SG$UESCG\8)T:FWEC MW5F^\L@0KU7-80X@Y+/>!@5V:5F/*YT]BKW:9,`%O\MU0_(4/2`O"CW,;K3? M0'V*[$T1;;P.>'EHT\1:4L\P=C.E&Q>QY1)9'C"F9=]:K@#P\J\MBOD&)53! M(":OKRX.J<(FX:,;H,ETZ];O]97?LCAUK0:`$U`.:S':*FD^J70AZ.X2D+^B._B_5%*,C#IS;LG>)W(?5Z%"IS#<-B3[VGA+1A[?V8X1EN^1/*9U7'1 MZC<"G2A4DVJ^W9C!'D3^L[[^K,PKT`E)5LW%#+:UZ:5[7Z/B"CD[7R-)8]#9 M3U:_1@J9J_Q"@,6G%&L.Y8JS9BB'L8SEE]#5I9K58,Q@SV$8GQ7 MTRGRR#KMZLV;N^$,/1##G814"33RG_R/;N5>W$!1H<6D&6?4F8PN@]6I*<)A M^./Y^.Y1C&EEF&U7M"SAQ:`99]21FU:,S,,4X1"J/_(QC\D4&LKH)IU&\R`G32$73:\$9=>1&9"-[,``WC*))S]RZ6%7C9>=(9 M`7LR#9@2'MCO`AI$>D-9/%#)Y^8Q9P1\N[$%,K?1#,/)5.KB+@H]\N/F7";T M.3O?3;%4C6F\:=/.J",W)1M_[YNBME?0KXX/6Q@A7!U#!![SEF0QV1(GB.R- MRV/?[SB=\QUMPO#AI@T[9[".2RN<;YN3/<6T=1YRB'(+;,[%BWPK_8"6-%4G MG.E75)`$N_,:EDQJ.F)&91(,N_9$E'<>\`\#M>2`*AIHZHUK_6I$[:VF#F'= MC]EBX<:KR?01ST(\Q1X-H,E#?@G.^RC`'O74'SKQ?J\'.NGS0B&`VB%2=A/CP[.GJ+DH-AXMV&\"C9D_9 MHD^.`9X!C)3],C"'GJO7FF61<>M^/*"`QJ70"[<35GSEF?:TC.;6^3`U:ACB MJZ7;X?-JA[4^:-252]#%LK)5^CW\:AXKS,A2LD'8`AKM4_G1%MUA#P`#9E1>2I-L7<[^'YB&84:^70Y^"56?,>Z+@;52(0 MB]N=KA@N:]72T#57Q:H6+6VU,/5[U-RAE-9/*B^K.?C>S^*U4(EM[41B_7P"$L! M9Q#Q=;^Q\(XDQ62?(DW5VGX0N*1]'3;W`$!'U0G#,HC=>40)^;W*>438N1O0 M#.0'G/Q(U..Q3C/`%>1-&*T);Q@I_)L"G\E3[/JT4MM6`;?-W\=!$+U2?5Q' M\664/:?3+%B7>6/:D0QWFZ^!KC9?8[*P#!\Z2T\XU>S5%=6=7%2"T/7BC:<3 M#4#VDNE`ZSWP2RCIK_)TFX"N^5YCV!M`LY91!YM>L5BZ.&:1Y_$E3I91X@9Y M$8-;_(+\<9*@5&-.:-(<=$7W&F92$Z:UM#M0DQ'?QIAL7\=H8#>UVP2NY5[' M>)I@'4::WM;*G2[6+TBW<4I_DCL71%+`!=]K^A8D:*QEY0!O55BH(KTF8Q9B M,U>24A:ZH'N]784&J)+[+P/C7K_"ME(6N@Z['>XYH#8NJ5Z3/_;)ZU.E-'3M M]'KC7@O6V@3Z[9WDW[4X85"(!F[8HH?LD>@&6^V$K-$:=(7T6JE2]6"N3:;? MM;_6E2L,W`P"$>CJY[5\"1(L:X;[?CRY77XUH"TIAW*MR@\ M+F!G('22BM&NK"X^>F!`;`UNXW=@'9+;G!*U6B?-"M% MH6N#USA>UL*T)K/?'KEK%\>L.MQD6E01<8.;D"@H8S'[RH6:ECQT7?!:SEI= M8&M#@"FD8ZNF\VM%27$4DA\]5$&J_^4V;0JZ('@=XZB#<6TG+;CWNA-Y^<0B M)XYQE]9.YQN=R_2ADV!TBQYH8AG`&-ESD<&,DV/9@WW;X[LPQ_2^G%F^(CI?[27DCU_= MV&<<:HW5AN\8:"D$F_JQ-4<$,*>.#`IYR_@-RS(9MIX#3F2PRI[@_'$';K]) MKJ^FC1Y"GZXF[]P%NHP6+N85BVWS=="9%KOV8'(HU1AYOZWO:K$,HA5";#F2 M']!]0XMG%,M6RR(9X+2(M@@6''M(M-!OFRAN!53:P=9SP.D1A^5^%[FUQ+N. M?H)$NB/[('23HH5L<=*\<>"TBP.L:*SH",P(Q37ON7O<(E*HV"8\194)E,:+ M%V,K][BJ3^HLO@,X;\..$?!._NSJ:`!W!%>&=`7T0Q0$UU&\'J]FCC>MEH"S M.]HPL?J:L'=A?2!.F4B@L_)> M%XO<6-%NI\@W`7LT504'&=WFF`]%HQ:AS]B-"TW6Q]GO0<>_'^L2I2X.6%W! MC"!IODJ#ORO-5B!EFL=_TYE*&B59>:Y7UZ:)$`RB*-X#M>L0^>48'WM>MLB8 MX^<23;&'9?.\6ACHS+D9T5JPH$OJ61N][/K+.'K!9)8\7_U&-DHWX62):+F& MZOV:\J&MV0C0>7#C<:\/#[KRGMSE?I,D&3'B+*:!J4P/[(.>7&8W1[_6V'.*I;.QI0WD0/(]T-H/4[ M8$(([WRE$;VG(=V9F#XUD7Q3T,,X4"N@")5Q>1K2P&%VFAP:&L`6O'X;`#V< MR,B29(U-&4$ED`".H]/DBD^T&-(@-M+7&=DLTC4BTV0];`-8CH7*FD#OAUGT\I'-0O&*\GI6 M_H-2>E:AM/BU\__N.=QM_@B=KR?3^#9)6WWN*QO_?)"P\<\'Z`PZ M^[8=;*CXB.T_#+R%-_UZ<0'TG$&:L#F9;B%3?K>$,L";=CX_@H`%"0:H*5+H M:_F_Z#5`:7KO>C_` M,XB,^=CM/&SRF9")6^0NK^-H=D5C6Y8Q3E"B)D8F!)V[8TR4"DQ'T['N4!I' M(7Y3L[7W)/3E+\84<1%8BY2RG"87A:N+*%Y&^1I)P0WW:>@[6HSY$:*P=M^G M[:.8\<+]*PK58V?G.>CK4XR9X?0?^MI-,2=9&@7XI7+'R_A918]0!/H6$W.F MI%"L77QI=[+[[KZ@KW&4+6]3U1I[_U'HNT:,*>)#L':CI.7+"`(WQG3H^P1; MC%%R$:E)D@E!7Q5B3)<*C+4K(NT2=XF"Y1Q?!BK/K3(XO,L M@]1O?A_=`"5%38D[I([%YC[OC&!=,PV8%>+I^7'/GDIN-6)QQ4+.J%_Q)W(D MUIQP]FI`:H78%;%URK#;6JTY(U@OD8(RK@>O+LY!1.6RF^HN;RYN0GJ[@#]> M4-RRT,DNN([$&SYW2:!?LK$]G*3*L! M9P3CX6K')/0Q0V=@6*I0%;[@.`JI*]8-V.TB!&5$5/D7\B_<)2:_I3_>A'E" MO\1:#%MR1C">MG;,I@;XGN_P15?9T@(_9.P@HM>+C&`(O=53[(8)T1]F]Y2S M?P4YW?X?69)2I9&U]&3ZY+Y)[*N=%SHC&']A.V;8GHY:+-EQ:*-]1`%I>/85 MA2@F6@W]L;_`(4[86O(%%16\59:HUXHS@DQ5:L6\](%;.QCODMN:3.#T%^X, MGP'-T65CZ-LS&NVX)Q!%G"T;1(&H*W%$%A/67_S4)), MILP-0/=^MWB!4Y[G4_J\(ZB*\H/YE2Q;RV6Z4)Z$O#G>^CN<,\B"CG;-Q;):K,4[V#8QO=E.9D#: M+3AG0_"TU@"]\:MUC7VYE3_-$5D+)T0U/JT.L3;Z'9O/K_7=LOJGUZCFA-/H MG<[9$!RW!U'3VB8[EMBB-[!D]J7=@G,V!']M#=!K[CN6&V/KF]OZ6L=,Z&X/"4@%NSUKET'WJ:?<%<<8'J MC%\NX)P-P4&IQKBFLK%O\I`S>X/%#'EOW:UMP[51;;K> ME-J901O.YR&X2FO!7MM`%[VE]=8\LFU(DT:=SX/RNS;2P]ILK.=[':)RY&71 MP2+`&NH*C9UN7.+$"R*Z=M"H$:F4!2@5N=.GK2M>:4UJ5>5(+7G@0I(Z>A<< M8>G"ZW?FAABEQFT::F'@@I/:')J:P&`NTI!#5&;EZ8@#EZ?4([&.`8"7K!0N MQNYCM,ROYDZNB4+RF[9NL4=C,ZZ1Y!8%$W'@BI:ZW/#64]H`@2/^)8GR^@6XAI$LM8.RMQ-9+#1+`1`;\90,Z4U7C=0NEG7<_=8 M2/MP#*BZ9SURA!!:G#!DWW>I%=&?CK1004 M\2F5X>@WJU5`ZLI*>P]WY4(1'B^"TCZKZ5OI\X.72P$[*4QG7BE0#J[`=]06SM]Q3W."<*3_)?I\A7Y!'+98'\.M8( MUIPW.+"[ZK$OM\P;-;"^WT5I&=SA?\?IO-`'^YO2@V#0%J@'R+I!-%%#9[\O MV_K8:.J!DB4[JQ-+@;J66F)=!;BU.TM`W5!`%^+VQQNUWC2JO%#;#_;$^[37 MZ9[O;0?D==JGYNAM.GJ;^L;AT=LT:&_3>G6EI'3O66C?D@&1O+[WO`+W>G;2 M<1#N/PSL'#+^-MZV$8EC+:QR?W6N74M;)0D*IROOKLT\##-G5%B3YN&,-0-P+5)-8,&>Q^PU=UJ@6T2/]"T[=*5_(B\ M+,8IO3#/#0+DKW60%`]*SV>;M0QU-7'S":$Y[M8N-#Z8T_:<#!^6?XO"A#4, ME:6Z3G',:PF4W7E``2T\P(K0LPG[F7;XOLB"T4EA;=0PA$=X??YPM5@&T0HA MLM%_P1YBO=SCBU[QX.45YZ:;*OUY87X&3NE8;N-]T/FS34D7;?A:TE6_G7!Y M5?[-7JS`K'",2Z2@7>-ML[5`[8\Z[@RXCD@;CA'P@11(GS M<>A7GW0]8(-P.13W:!"DW]SX!THW1?4U3F/DHL"> M_)K<:Z""#NFQP[SBZA0E_5KRP`<"-6U`%YHU_P3LY6M6%DLZ!T:6WP1]B''8 MY:9]Y77TQ&L/5#'L]$Z]5-)`QR`MLB@\-M-0Q2#6,(6ZBH!<$6K)O*37`/P! MB@ZA_,E#&Z$M@UA&"::?S`Y_TN[H"5)"2ZB^NK&?/$7LTLS-W^E(NXO2_T7I M9@PR&B9,)XT_=$W?WX'#G_H&>3`-#:%0@,C9?WKT]L-[^P6?\$UMF>1\M7FF MZ#HS:'T/?\-W#-ZKWUP__?;CY5#4%32WGNN,M]X">X)5SP["&=^Y"76NSC=;^M;[U@VZROE"Y"H0SPL4!;!"N6NAPM M#&+_K52G2)LZ/L/FC0.?0QS@.V=%1WW/7*BK@V*O.,G2)'5#'X>SAR@(KJ.8 M_K$-PY2^$#J#PHHE6;92E<+^WI/HOG;R6,C#F&[^+NB3F-8LJW5+7NO/FN.5 MG1(\IFZ<]M.0O[)HW9LP/^[X&O,OAVSQ;<`G1'TS9KX&83,RNF')5V]+7%R6 M5*JG14OFO`WHQ*JOELS7X!"24/J]N``ZY^JK&7,5:"WC)5]?7(5^[RUY[P9- M%'LX0?_ZMKX:5O9Y8B"ND2[&V.I1ZNNCI],=FQ\&*BU'`F-KQ+G[4#`0_%& MQU"\8RC>,13O&(KW0'$JPO#6SPP_!*\*=0#$JG.B-T\!![MM:5Y"SKJS_:;G M&]EO+K*%DJ"MYX#CT';TSR=IM\,]I\E]TZ.I^AQP!)<>33L=_KN&4QTHI@\X M3*H7,7V`-6T[YW8`C>GK:734K;@X;^L*L_65\]<;GOXYHJ]='/_N!AD:)TFV M6,`!)S^N8X1NPA01"TL/.:OSWCW0D*O#3.LB MA0ZC6E0K7\#?HX`T$^!T!;&>V7[[0`.O#KNDV5>IM0#$#M;A.#L>_AT/_XZ' M?\?#OW6ER?Q*`ZJ$*&1*U+QLDB[S7;FU4L00GU@1 ME'X36MPHHCS#VGH.^*A1R`2?N-VN#\$SK6.=BH/6J>BG+7;L:.M8KL(\ M%/=O/9=V(J.TIP>R\$'>QW(5\@2K8[F*KAMSR^4J>CTI*[.=(-/:AGD$"Y>Y M9K.T!:S54]=\?FGL9183_>;XF':2:CGP,B5):L;&C0WTK%1LF+4TU.+Q3X\F M6.`Z*H,\V#QD'17KM2..=53:[L&Q8D1K:K56+:+[F\#AU5$YUH%H4;76JC[T MN&;<0.NG'.M#'%39UJI&='O?H)I^2KV`?V*,.N*<`A]I=FVT6-=N.3S^,>SA M,9S-2$_/2[N^&=F5%%+*(SLP-6LNH MJM\;Y_1O>#I[>!5O3KR`/AWB2Z`;$F"N$,X`@.J*<_KW.,Z%U._:]*U?3@"> MB?+YF(ERS$0Y9J(<,U$N`C=))M,BCGL2/]#949&%(I09?@:*#/H`#4&9@R*1 M`LY$D3)E0"YX+HIP_7N)GM,KNBQ(2#^*3B?"9!.E#'#BB4+YO%6A'`QP^+2$ M-H]U\>DU>II'64(6P4\H+"]_U>91OQ'@?)%:Q!JA@P[*%%)]C9[CS(U7%1Q7 M`7I!X2V:N<'8?\%)%*NRQ.HV!9QR48/V6ABA8Q.%Y'\C^IKO0;D)7U"2KF&H MQKE)(\#9"C4(-T0''1O8D.I)*"X+7*L=X(C^U@BO`K061V>?\^H\=1UE<8I0 M.)X1Q>G-Z+H-`,>SUV)9&YFUT+##T+MCJ;48YK8!'1QNC64ANK_Y!3>WATD- MAP[=[D5N>"4\NW-;AL=LL2!+X,FT>J1=?!>?HON,?#\),`)]$87,PR]QD3=L ML;<1T=M,<\^3FNBDJXZ%VOIB23J7_()ZMIJ&"B2VP;?5$\DMC70HQ3]!WH=9 M]/(1LP\X_2*>%3]36SNK?`OSWSKYEWZQ6=0EJB`J/4&HT%G[EJ*/M[N?H[IF MGM<1N@F)6?2+M903),:KG&-5SC.KYVT?UY%#(6Q21/%O/#3]Z M9Q=NOTFNKZ:-'D+_/G##.W>!E*$^;;P..$9HSQYJKD'J(>^W]971&)5*+LI" MMT(9X-BCM@CFFY-,"QUR"`WWD.18/_>@]7.M!3SR=T#%UD=]#J(C/<`ZM6;H M_]X34)$N]#M*:(80*T207TD6T5\=LBJ7;A>`@KX,C6GL74`1:(^MK4QG6OIFUZOFT;F5+'-LY)]9]$5#L6X?LJZ()Z+,4H7F5 MGGTV"LBRME+;\Q[%#*;08C1DH6+C+%B!)KK.!C9+^C]>1%DH7FTK):%"U=IE M=8,-.G`9>"7-_D,GL77A7V7Y$$NO@0I;@UT2"Q1A+;ZZQP4&@8LI@\:]P6[0 MN-HXUKS4V;F.9[,8SJ&G;*?\XA,N/D9*>]HT/(;H`H+0MO1K@[L5?ZS M[,VT!5*THFKC-5#U^KID5&M%M%=8KT=[`.E-`>R/U.][[>*X[96_84^6A[ZM/PKV:RCT,,H@4VJD'5L'3FOD4-AU(Y1RH1P:29YI6Z8EGX3 MP%D,INKEKJV,T'8UB.4N"F/D93&]Y/$2O:`@6E)$-(]#2+-$!B@/H0XA/$KE MR+K*X25*O!BSSDRF.]UFI;'QJP2<2``N0/P&8.KK/A-G8I$:Z`*I4%CP.V.5QG&%FL%'B1_'\TH M$!Q.HWC!&O7S;>:A]Y=%1Q[0,HHI61I;29$(:*+]`ZT=FJ'DFE@D+0,>$U.X MR)(T6J"8VN)M%,YN\0ORQTF"TD0_N[Y.P\";40E!(D=14[C]3E]])!2QB>4K MBF:QNYQCC\Q4\FQYH4QG,N?K4BDP$0G>GK.?#YV1P]WFC]`9YC*-;Y.TU6=;;$`&B"78 M558&V#P$G9VM3Q2W[]!^'TO%';(X6HJKU?,>@\Z<-N=MI_?0/AX[S!FN`&XU M*B[4;1+X/HJV5D4-U`%64L&.;6T&USA&;B)7A'I36:W:U[+HHOW*/:HNF?H#HF=E+R'H2^TL,.8'%^+ M:SU0AV0*$_?2;[_D1112Z\A+SC[@Y(?*W\@7Z)T?40BC"XZ$HW]03M'1[W?T M^QW]?MUP2[3B][-X,8@)*8]7$E(>K_KCX]OJ\S!\>WM?`QT?D%@(^II9PV^; M%$@'2U[FIGJS6:-KE[M424)?%RLE@K<-TT'4H7FS_@C-:V50OR5=A5-[+J#+ M1JA8"+9(GPYI_*$J130(HO?&P,;%(*N6)!.#K9A7GVP%IM8**Q["T7*'TMLH M65=\NX0)^[IRXY#LZ-?=T'"OB$3L)`MM#F@,NJ8K"NQ'D6B._VW3`32(.6\7 MW[F;8&\<^IGX)S:6U\@S"(G1SJ\JO/H%>`'4"-F=X%,PPGA$(M]6=_ M8-=28[K5\*S%*?EHBD-,9;]FV'?)^AMZ20R4<`^U,K:=$#$.4^Q3.\$O9*OL M93$A%R57;UZ0$7+HT3>M"9'E).ZO3/03)&R\J#<+]-;@=^'$Q<(!Z47@)DE1 M!5OW@'17IC,)%+:H51RL+P%_%P]!S#J.0K`E3 M3$SXONPNPZ>,`U=(`B_!^50)W9`*)/WF>&WI>;DG.IE%(7+0Q[F' MGKT%.NAY=/<.*N4LSGT>.@M$19%@TR6`TN^Q_MVE5=]2Y>R]]1SPJ;"0"8$; M;*?K_2:LX?1UON(WH+H#O+VW`F=K'.K#T*X&K?E[NF346C>.JT2!DT):IMW$ MUK9TTN])T.0^\?T;M(&S3G38$2TN.5"&D/W=;)#<:L0FVGH%U(UT/?M<;>G+ M6BDU:Q&3.R<+NN&2;'ZD:.@UO.0?_Q]02P,$%`````@`ST4&1QH4=K05#@``[9$``!(` M'`!N96]N9"TR,#$U,#8S,"YXX@%>DC-F1GY):**[T?TUV.@&0>C=;X^>:]UC+@BC)WN#_8,] M"U.;.80N3O8^3B]ZO^[]]O[GG][]H]?[M?K%&P2(0TCHX^L4Z/!@<68/! M\<'A\=&1-?I@]7JJ(V$OL8$C&Y_L+:7TC_O]AX>'?8H990[> MMYG75U(.W@R5VBY6BETP[IWC.0I<>;+W+4"NUG+/`CNI.%:L3@-AFCI#]S#< M9WP!)`>#_I$@Q])#4I:S02,GLT!B$;/9+*"2K[*`"FSO M+]A]/VI4O0VSO=D!YS#8R_BB5L7X.LOH8&+F@08#.7ZTEV9ZU6*`@=![+*29 M)6PS6$,1L8691S4&%.[(2OGBEB4($-4^,07'`'P.'('8E$ M*RW2BF1:H5#K52+V7R\.,N/M(PCJRO+;7;=<%O7O;I)]_+B22=! M4TSF$Q]SK4.C9ZZ.T^S!U\T\N!9NL;FU%O_R&-HIF$2"$IL#)9BZ!!IRCUTF M1%#BPPT$F%UYM(DKS]*]6%?0S8M+RYZJ,R26%RY[:/TX&AC-+GRSD0M!NJ7% M[ZSK+JF$W-.[@7^8)L.%Y"SB&/R)N*V2W$OZ= M@OIFLJ1K8M-@.(&QJ5-5(6JX&Y(:X;_USS\D30US%/R MK+5`*Y:X4PXYQW,,%3L,YWM,@QCZPETSR&_S(,=\5LRX4UC>269_73+7P5R, MOP50_$4#N7C?B.?@H#!H4YS_M$+>W8/T%.D9T?-A`DN5ZR5M9F@'1FA[FMU* M\^\4O&"X1Z2>_T=4)1TJ$&*ZCL%5!&:@#_-`IT3H99&,D)U"^PXO%`R7^74G MPWTSML/"(`XY=W:-Z1I+56A`2G6WA/(_A#-_TXSEZSR6P!96+:K#IS-6:[37G,?GBS>=9K MO8JO=JO@:X;[%,W<=IZ*.,Q^*A2';?P42MXQ+Q52Z(Q'REK-Z!=K0T.:O<,X M%W+J`M9E%&:\"V5B6>Z]HY@7TK\,WF6M1JP/BR5D,47<39AS:6$:8W.3&>!" M(5G,&W<37_/JZ#F6B+ABBA]E$+\Z;$1I1K]079:MJEJO(GE6)'"WG-%L[32" MJ,UR:\QB=D^Q0&V1UT2B7QQ5BGKF*=J(T^RV0BV\@=MV\SG++Y1GGJBR1K,3 M"C5T83%]5Q^10G:?C5NES6:2F*&WESQ&BNPW1WW99@.&N`^*`&^1>D;C_O!"_0)K(<-H#\T0S\TOTRM MA/[P!?H$UF$#Z(;D9K<4"MW*S0F[F@R%*\:ICU^<3/Y9VFS& MO/ANV+0B_8)T&DJ9"4-U5&;Z[&7URZ_Z9,JNDS8QUH;0UO138R2%N MAC$3U*M)S(`7"MH*P/\N8UO]H[Z'OL5S2W]H?*R^ECS9$\3S7?6!LKZWU%^" MZB^V>_&7V7^`3?N/GAO3*-$5WSQKQ^5AB'J.141?B%9_"0U"F(^YA+FT'VN_ MUW\*@P#RM@9EO=0MY;`V&YK2>YQ>%I[^O%'PW"U_I08&L`4 MQJ5%C68075YU*"SRM,-2OK4_1D9^]B5(K[36XMJ:G7%:0%5NAC8HNO> M6D1;'4P',#11(LT7_[&-&J;S'!KID69,_NJMQ;35I'#J0Q,M$B9]M<60*!X& MT:3[-5=XV5L+:*M`_G"))MW'/.IBFZ[S1TXTZCMFTE?M>J\[*:5),'(YSW"I MB/16!<'!FVTT:!@*4[W+;7NN/HRCJ39I*>.UD';*51[;TF14Q#SJHETLJ#XJ MI!$,>:XM'&,^X*2=$HQ>;Z)']?$QF\^96I8Q0D9G1&E=UJ>DC*@3GG"26D\8 MS83D>EBJPDZGAG\THP\33'T:TS'<(W1Q*;&GZI\]"T54)WN2!RK]U%2^WO$U MU7Q.P*/O:2AQ7;7Y+J85`3`3&:C6WSD+_+@3`N+!/*M@WR6U.8:LZ1R'_U_2 M&\[^AVTI])6-A4B;UX@\;9W'("8@OC+9-T>NJ#$P;)N%YV"<[$&G#I%/8?== MX/OA#>1>,ZJ^!;\)N+T$FR9S]7+>5VV?B5R>(9\`T94R=S)SR2+U+5,(RO:R M?@3$S/L83<]`'6671K])4[6"/0$1F'JZP ML3%+QTR-#_](3:!5@[8!=<<,-+]PA6Q5G5QRBUV5QT^9IIKXJDF]!?R,.$=4 MAA]<&9%X4K%=@RS>!3QRW4CED2W)??P-E!F0YDQ=,U;)F2VI$="4+3,9:XIG,W<,])X:GA\%G@?N%9F#GB,AL!2F M-*,1>7=RC?_@!Q=+>8/LKX@['[`WPSQMCKD],R(=YB%"G\N`_[(9@ZFCJ'FN MH4,J0Z+M7W"V&*ODS>=$P.@V65!-UR&#KK'DC))'HQ6&Q@ZI?L?HZHQQ2)RU MR*+Z)00=,F'DH3\9-6)?:.J2VH&$5.C^'*OS\'0M.IH9+*B@ZI`QG]$]UI17 MTA!$3:T=4O[,12`8AHD3J,D(BS-F-*.:KD,&G6/77Y*Q"T64"CVVRB7OT!S+ M5=&H>MH.&=;L>[-HKX4I.]E00'?RE?&C*H@G\TLJ0"I4_U?$(S*S&EA*LO5Z M5O@R67['Y:S/F"R6D#R.[C%'"PRF+!%=X%M(*"\8-Q\*JW=AI@IIM05G0G$F M`#VEV#2,/F3MSY:9@^I@%SV+WFNFK9J"XT6XGR$'10NFK0Q-QLKW'A33)3:> M5)KSY61>\.;T@34?)%MV$P51B*!`K1;R.CYJ:[ MS8<.GOT5T^$6(6G)<8L)%YQYX8+K%;'5^OL%QJ)8&37EZ%!]%!_7,*8+0K%>2TZM')C-;,[304.C M8RDJ*KXZRNZ4=OFYMFH>[M8TK'Y2S0EK-QY2IK]T8 MU;>,!?JVHKKGS[7R^D7.-9-Q1'7T[I/0"MUF*83%/?)2N# M8!!/,?M,*ZRKPU?APR^P#,>0/F?4GSLJHSQ"B\@9COW1#`>Z5\T>Q/N M#AG_`4$X+^A^J;\>2O0V>+L=WP]G\(3B36U.L7;*[/0(O6`!EQC3T4)M@RX; MVLUY.F]HSDE-;2UAZY"YR4O-22#5>HGZ"?!DZR"+D[6ZPFMS(7^#+$CGK.=( MXB?):E+2,ED*W'F^%'A38\+JY9*"MOH;&I$$N?5`4=_5K%.XL')]$B0W[WS+ MZN,)5QY+3JNOJ1WK&7Z\QVY6DOY_@@"+8R?B&T[LC9[#5N(SKRDU>^.Y_],:;LHD4E>8=&186^Q9><#8BW?MM9^C7; MD[WN-`>^R([?5=Q7R[[&U:.[ M9]TM:_CILXK"O9ZX.[/<>J?%&''UABTI@ZKW9913=\>V_(^IE;NLCO(Y;>J' M!^F\__FG_P-02P$"'@,4````"`#/109'%_DO8PRT```^N`H`$@`8```````! M````I($`````;F5O;F0M,C`Q-3`V,S`N>&UL550%``,F5\-5=7@+``$$)0X` M``0Y`0``4$L!`AX#%`````@`ST4&1_:)P9L?"```\6$``!8`&````````0`` M`*2!6+0``&YE;VYD+3(P,34P-C,P7V-A;"YX;6Q55`4``R97PU5U>`L``00E M#@``!#D!``!02P$"'@,4````"`#/109'S-]97$L=``!^"0(`%@`8```````! M````I(''O```;F5O;F0M,C`Q-3`V,S!?9&5F+GAM;%54!0`#)E?#575X"P`! M!"4.```$.0$``%!+`0(>`Q0````(`,]%!D&UL550%``,F5\-5=7@+ M``$$)0X```0Y`0``4$L!`AX#%`````@`ST4&1Q.TV.Q3+@``@%`#`!8`&``` M`````0```*2!B"X!`&YE;VYD+3(P,34P-C,P7W!R92YX;6Q55`4``R97PU5U M>`L``00E#@``!#D!``!02P$"'@,4````"`#/109'&A1VM!4.``#MD0``$@`8 M```````!````I($K70$`;F5O;F0M,C`Q-3`V,S`N>'-D550%``,F5\-5=7@+ B``$$)0X```0Y`0``4$L%!@`````&``8`(`(``(QK`0`````` ` end XML 24 R2.htm IDEA: XBRL DOCUMENT v3.2.0.727
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2015
Dec. 31, 2014
Current assets:    
Cash $ 3,159 $ 6,129
Accounts receivable, net 681 1,106
Projects in process 725 200
Prepaid expenses and other current assets 560 513
Total current assets 5,125 7,948
Property and equipment, net 533 654
Total assets 5,658 8,602
Current liabilities:    
Accounts payable 884 566
Accrued expenses 1,255 935
Deferred revenues 3,016 3,403
Current portion of capital lease obligation 57 61
Total current liabilities 5,212 4,965
Capital lease obligation, net of current portion 315 367
Total liabilities $ 5,527 $ 5,332
Commitments and contingencies    
Stockholders' equity:    
Common stock, 70,000,000 shares authorized with par value $0.001 per share; 40,524,984 and 40,455,352 shares issued and outstanding at June 30, 2015 and December 31, 2014, respectively $ 40 $ 40
Additional paid-in capital 169,782 169,010
Accumulated other comprehensive income 102 149
Accumulated deficit (169,793) (165,929)
Total stockholders' equity 131 3,270
Total liabilities and stockholders' equity $ 5,658 $ 8,602
Series B Preferred Stock    
Stockholders' equity:    
Series B Preferred stock, 54,425 shares authorized with par value $0.001 per share; 83 shares issued and outstanding at June 30, 2015 and December 31, 2014. (In the event of dissolution, each share of Series B Preferred stock has a liquidation preference equal to par value of $0.001 per share over the shares of common stock)    

XML 25 R6.htm IDEA: XBRL DOCUMENT v3.2.0.727
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities:    
Net loss $ (3,864) $ (7,882)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 772 $ 1,415
Loss on disposal of property and equipment 28  
Depreciation and amortization 93 $ 83
Changes in operating assets and liabilities:    
Accounts receivable 424 236
Projects in process (528) (44)
Prepaid expenses and other current assets (70) (61)
Accounts payable and accrued expenses 711 429
Deferred revenues (385) (186)
Net cash used in operating activities (2,819) (6,010)
Cash flows from investing activities:    
Purchase of property and equipment (36) (86)
Net cash used in investing activities $ (36) (86)
Cash flows from financing activities:    
Proceeds from sales of common stock, net of offering costs   9,254
Proceeds from exercise of stock warrants   $ 36
Principal payments on capital lease obligation $ (29)  
Net cash (used in) provided by financing activities (29) $ 9,290
Effect of exchange rate changes on cash (86) 39
Net increase (decrease) in cash (2,970) 3,233
Cash at beginning of period 6,129 8,815
Cash at end of period 3,159 12,048
Supplemental disclosure of cash flow information:    
Cash paid for income taxes 37 $ 1
Cash paid for interest $ 8  
Supplemental disclosure of non-cash investing and financing activities    
Purchase of equipment with capital lease obligations   $ 530
XML 26 R35.htm IDEA: XBRL DOCUMENT v3.2.0.727
Segment Information (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Summary of net revenues by geographic region        
Net revenues $ 2,776 $ 865 $ 5,039 $ 1,879
Revenues percentage 100.00% 100.00% 100.00% 100.00%
Americas [Member]        
Summary of net revenues by geographic region        
Net revenues $ 1,557 $ 350 $ 3,250 $ 1,018
Revenues percentage 56.00% 39.00% 65.00% 54.00%
Asia [Member]        
Summary of net revenues by geographic region        
Net revenues $ 266 $ 515 $ 679 $ 836
Revenues percentage 10.00% 61.00% 13.00% 45.00%
Europe [Member]        
Summary of net revenues by geographic region        
Net revenues $ 953   $ 1,110 $ 25
Revenues percentage 34.00%   22.00% 1.00%
XML 27 R22.htm IDEA: XBRL DOCUMENT v3.2.0.727
Interim Period Reporting (Details Textual) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Dec. 31, 2014
Interim Period Reporting [Abstract]          
Net loss $ (1,792) $ (3,874) $ (3,864) $ (7,882)  
Accumulated deficit $ (169,793)   (169,793)   $ (165,929)
Net cash used in operating activities     $ (2,819) $ (6,010)  
Shares registered and available for issuance   5,000,000      
XML 28 R36.htm IDEA: XBRL DOCUMENT v3.2.0.727
Segment Information (Details Textual) - Segment
6 Months Ended 12 Months Ended
Jun. 30, 2015
Dec. 31, 2014
Segment Information (Textual)    
Number of reportable segments 1  
U.S. [Member]    
Segment Information (Textual)    
Percentage of sales 74.00% 85.00%
Sweden [Member]    
Segment Information (Textual)    
Percentage of sales 24.00% 14.00%
XML 29 R24.htm IDEA: XBRL DOCUMENT v3.2.0.727
Summary of Significant Accounting Policies (Details Textual) - Segment, Geographical [Domain]
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2015
USD ($)
Customers
Jun. 30, 2014
USD ($)
Customers
Jun. 30, 2015
USD ($)
Customers
Jun. 30, 2014
USD ($)
Customers
Dec. 31, 2014
USD ($)
Customers
Jun. 30, 2015
JPY (¥)
Jun. 30, 2015
SEK
Jun. 30, 2015
KRW (₩)
Summary of Significant Accounting Policies (Textual)                
Basic deposit coverage limits per owner and customer $ 250,000   $ 250,000     ¥ 10,000,000 SEK 100,000 ₩ 50,000,000
Allowance for doubtful accounts 167,000   167,000   $ 167,000      
Environmental Costs Recognized, Capitalized in Period     725,000   $ 200,000      
Foreign currency translation adjustments (49,000) $ 30,000 (47,000) $ 65,000        
Foreign currency translation included in general and administrative expense 5,000 8,000 31,000 34,000        
Advertising costs $ 8,000 $ 23,000 $ 28,000 $ 129,000        
Exchange rate for the consolidated balance sheets (Swedish Krona to one U.S. Dollar) 8.42 6.60 8.42 6.60   8.42 8.42 8.42
Excess of insurance limits $ 2,700,000   $ 2,700,000          
Weighted-average exchange rate for consolidated statements of operations (Swedish Krona to one U.S. Dollar)     8.37 6.53        
Exchange rate for the consolidated balance sheets (Swedish Krona to one U.S. Dollar) 8.31   8.31   7.80 8.31 8.31 8.31
Weighted-average exchange rate for consolidated statements of operations (Japanese Yen to one U.S. Dollar) 121.29% 120.12% 120.23% 102.47%        
Exchange rate for the consolidated balance sheets (Japanese Yen to one U.S. Dollar ) 122.72%   122.72%   119.93% 122.72% 122.72% 122.72%
Weighted-average exchange rate (South korean to one U.S. Dollar) 1,096.06   1,098.02          
Number of customers | Customers 21 19 27 22        
Central Deposit Insurance Corporation $ 3,000,000   $ 3,000,000          
Weighted-average exchange rate (Taiwan Dollar to one U.S) 30.78   31.17          
Exchange rate for the consolidated balance sheets (Taiwan Dollar to one U.S) 30.92   30.92     30.92 30.92 30.92
Exchange rate for the consolidated balance sheets (South korean to one U.S. Dollar ) 1,126.89   1,126.89   1,096.73 1,126.89 1,126.89 1,126.89
Accounts Receivable [Member]                
Summary of Significant Accounting Policies (Textual)                
Concentration risk, Percentage     90.00%   87.00%      
Number of customers | Customers     2   3      
Sales Revenue, Net [Member]                
Summary of Significant Accounting Policies (Textual)                
Concentration risk, Percentage 10.00% 10.00% 10.00% 10.00%        
Hewlett Packard [Member] | Sales Revenue, Net [Member]                
Summary of Significant Accounting Policies (Textual)                
Concentration risk, Percentage 28.00% 12.00% 29.00%          
Kobo Inc [Member] | Sales Revenue, Net [Member]                
Summary of Significant Accounting Policies (Textual)                
Concentration risk, Percentage   15.00%   13.00%        
Leap Frog Enterprises Inc [Member] | Sales Revenue, Net [Member]                
Summary of Significant Accounting Policies (Textual)                
Concentration risk, Percentage       19.00%        
Netronix Inc [Member] | Sales Revenue, Net [Member]                
Summary of Significant Accounting Policies (Textual)                
Concentration risk, Percentage   11.00%   13.00%        
Sony Corporation [Member] | Sales Revenue, Net [Member]                
Summary of Significant Accounting Policies (Textual)                
Concentration risk, Percentage       11.00%        
Amazon Inc [Member] | Sales Revenue, Net [Member]                
Summary of Significant Accounting Policies (Textual)                
Concentration risk, Percentage 11.00%   19.00%          
Autoliv Development AB [Member] | Sales Revenue, Net [Member]                
Summary of Significant Accounting Policies (Textual)                
Concentration risk, Percentage 31.00%   17.00%          
Wave Group Ltd [Member] | Sales Revenue, Net [Member]                
Summary of Significant Accounting Policies (Textual)                
Concentration risk, Percentage   11.00%            
Clarion Industries Co Ltd [Member] | Sales Revenue, Net [Member]                
Summary of Significant Accounting Policies (Textual)                
Concentration risk, Percentage   12.00%            
Delphi Electronics and Safety [Member] | Sales Revenue, Net [Member]                
Summary of Significant Accounting Policies (Textual)                
Concentration risk, Percentage   14.00%            
XML 30 Show.js IDEA: XBRL DOCUMENT /** * Rivet Software Inc. * * @copyright Copyright (c) 2006-2011 Rivet Software, Inc. All rights reserved. * Version 2.4.0.3 * */ var Show = {}; Show.LastAR = null, Show.hideAR = function(){ Show.LastAR.style.display = 'none'; }; Show.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; } }; Show.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( '-', '+' ); } } }; XML 31 R7.htm IDEA: XBRL DOCUMENT v3.2.0.727
Interim Period Reporting
6 Months Ended
Jun. 30, 2015
Interim Period Reporting [Abstract]  
Interim Period Reporting

1. Interim Period Reporting

 

The accompanying unaudited interim condensed consolidated financial statements, include all adjustments, consisting of normal recurring adjustments that are, in the opinion of management, necessary for a fair presentation of the financial position and results of operations and cash flows for the interim periods presented. The results of operations for the three and six months ended June 30, 2015 are not necessarily indicative of results for a full fiscal year or any other period.

 

The accompanying condensed consolidated financial statements for the three and six months ended June 30, 2015 and 2014 have been prepared by us, pursuant to the rules and regulations of the United States (“U.S.”) Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally contained in financial statements prepared in accordance with accounting principles generally accepted in the U.S. (“U.S. GAAP”) have been condensed or omitted. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto contained in our Annual Report on Form 10-K for the fiscal year ended December 31, 2014.

 

Operations

 

Neonode Inc. (collectively with its subsidiaries, is referred to in this Form 10-Q Report as “Neonode”, “we”, “us”, “our” or the “Company”), develops and licenses user interfaces and optical infrared touch technology. We license our multi-touch technology to Original Equipment Manufacturers (“OEMs”) and Original Design Manufacturers (“ODMs”) who incorporate it into devices that they produce and sell.

 

Liquidity

 

We have incurred significant operating losses and negative cash flows from operations since our inception. The Company incurred net losses of approximately $1.8 million and $3.9 million and $3.9 million and $7.9 million for the three and six months ended June 30, 2015 and 2014, respectively, and had an accumulated deficit of approximately $169.8 million and $165.9 million as of June 30, 2015 and December 31, 2014, respectively. In addition, the Company used cash in operating activities of approximately $2.8 million and $6.0 million for the six months ended June 30, 2015 and 2014, respectively.

 

In June 2014, we filed a shelf registration statement with the SEC that became effective on June 12, 2014. We may from time to time issue shares of our common stock under our shelf registration in amounts, at prices, and on terms to be announced when and if the securities are offered. The specifics of any future offerings, along with the use of proceeds of any securities offered, will be described in a prospectus supplement and any other offering materials, at the time of the offering. There are 5,000,000 shares registered and available for issuance under our shelf registration.

 

We believe that we have sufficient cash to operate for the next twelve months. While there is no assurance that the Company can meet its cash flow, management anticipates that it can continue operations for at least the next twelve months.

 

In the future, we may require sources of capital in addition to cash on hand to continue operations and to implement our strategy. If our operations do not become cash flow positive, we may be forced to seek credit line facilities from financial institutions, equity investments or debt arrangements. No assurances can be given that we will be successful in obtaining such additional financing on reasonable terms, or at all. If adequate funds are not available on acceptable terms, or at all, we may be unable to adequately fund our business plans and it could have a negative effect on our business, results of operations and financial condition. In addition, if funds are available, the issuance of equity securities or securities convertible into equity could dilute the value of shares of our common stock and cause the market price to fall, and the issuance of debt securities could impose restrictive covenants that could impair our ability to engage in certain business transactions.

XML 32 R3.htm IDEA: XBRL DOCUMENT v3.2.0.727
Condensed Consolidated Balance Sheets (Unaudited)(Parenthetical) - $ / shares
Jun. 30, 2015
Dec. 31, 2014
Common stock, shares authorized 70,000,000 70,000,000
Common stock, par value $ 0.001 $ 0.001
Common stock, shares issued 40,524,984 40,455,352
Common stock, shares outstanding 40,524,984 40,455,352
Series B Preferred Stock    
Preferred stock, shares authorized 54,425 54,425
Preferred stock, par value $ 0.001 $ 0.001
Preferred stock, shares issued 83 83
Preferred stock, shares outstanding 83 83
Preferred stock, liquidation preference $ 0.001 $ 0.001
XML 33 R17.htm IDEA: XBRL DOCUMENT v3.2.0.727
Summary of Significant Accounting Policies (Tables)
6 Months Ended
Jun. 30, 2015
Summary of Significant Accounting Policies [Abstract]  
Estimated useful lives of property and equipment
Computer equipment3 years
Furniture and  fixtures5 years
XML 34 R1.htm IDEA: XBRL DOCUMENT v3.2.0.727
Document and Entity Information - shares
6 Months Ended
Jun. 30, 2015
Aug. 03, 2015
Document and Entity Information [Abstract]    
Entity Registrant Name Neonode, Inc  
Entity Central Index Key 0000087050  
Amendment Flag false  
Current Fiscal Year End Date --12-31  
Document Type 10-Q  
Document Period End Date Jun. 30, 2015  
Document Fiscal Year Focus 2015  
Document Fiscal Period Focus Q2  
Entity Current Reporting Status Yes  
Entity Filer Category Accelerated Filer  
Entity Common Stock, Shares Outstanding   40,524,984
XML 35 R18.htm IDEA: XBRL DOCUMENT v3.2.0.727
Stockholders' Equity (Tables)
6 Months Ended
Jun. 30, 2015
Stockholders' Equity [Abstract]  
Schedule of conversion of preferred stock issued to common stock
  Shares of Preferred Stock Not Exchanged as of June 30, 2015  Conversion Ratio  Shares of Common Stock after Conversion of all Outstanding Shares of Preferred Stock Not yet Exchanged at June 30,
2015
 
             
Series B Preferred stock  83   132.07   10,962
XML 36 R4.htm IDEA: XBRL DOCUMENT v3.2.0.727
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Statements of Operations [Abstract]        
Net revenues $ 2,776 $ 865 $ 5,039 $ 1,879
Cost of revenues 737 452 1,075 618
Gross margin 2,039 413 3,964 1,261
Operating expenses:        
Product research and development 1,629 1,742 3,208 3,526
Sales and marketing 953 756 1,803 1,798
General and administrative 1,194 1,789 2,756 3,818
Total operating expenses 3,776 4,287 7,767 9,142
Operating loss (1,737) $ (3,874) (3,803) $ (7,881)
Other expense:        
Interest expense 4   8  
Other expense, net 28   28  
Total other expense 32   36  
Loss before provision for income taxes (1,769) $ (3,874) (3,839) $ (7,881)
Provision for income taxes 23   25 1
Net loss $ (1,792) $ (3,874) $ (3,864) $ (7,882)
Loss per common share:        
Basic and diluted loss per share $ (0.04) $ (0.10) $ (0.10) $ (0.20)
Basic and diluted - weighted average number of common shares outstanding 40,499 39,233 40,477 38,587
XML 37 R12.htm IDEA: XBRL DOCUMENT v3.2.0.727
Commitments and Contingencies
6 Months Ended
Jun. 30, 2015
Commitments and Contingencies [Abstract]  
Commitments and Contingencies

6. Commitments and Contingencies

 

Indemnities and Guarantees

 

We have agreed to indemnify each of our executive officers and directors for certain events or occurrences arising as a result of the officer or director serving in such capacity. The term of the indemnification period is for the officer’s or director’s lifetime. The maximum potential amount of future payments we could be required to make under these indemnification agreements is unlimited. However, we have a directors’ and officers’ liability insurance policy that should enable us to recover a portion of future amounts paid. As a result of our insurance policy coverage, we believe the estimated fair value of these indemnification agreements is minimal and have no liabilities recorded for these agreements as of June 30, 2015 and December 31, 2014.

 

We enter into indemnification provisions under our agreements with other companies in the ordinary course of business, typically with business partners, contractors, customers and landlords. Under these provisions we generally indemnify and hold harmless the indemnified party for losses suffered or incurred by the indemnified party as a result of our activities or, in some cases, as a result of the indemnified party’s activities under the agreement. These indemnification provisions often include indemnifications relating to representations made by us with regard to intellectual property rights. These indemnification provisions generally survive termination of the underlying agreement. The maximum potential amount of future payments we could be required to make under these indemnification provisions is unlimited. We have not incurred material costs to defend lawsuits or settle claims related to these indemnification agreements. As a result, we believe the estimated fair value of these agreements is minimal. Accordingly, we have no liabilities recorded for these indemnification provisions as of June 30, 2015 and December 31, 2014.

 

Non-recurring Engineering Development Costs

 

On February 4, 2011, we entered into an Analog Device Development Agreement with an effective date of January 24, 2010 (the “NN1001 Agreement”) with Texas Instruments (“TI”) pursuant to which TI integrated Neonode’s intellectual property into an Application Specific Integrated Circuit (“ASIC”) developed by TI. The NN1001 ASIC only can be sold by TI exclusively to licensees of Neonode. Under the terms of the NN1001 Agreement, we will reimburse TI up to $500,000 of non-recurring engineering (“NRE”) development costs based on shipments of the NN1001. Under the terms of the NN1001 Agreement, we will reimburse TI an NRE fee of $0.08 per unit for each of the first one million units sold and $0.05 for the next eight million units sold. During the three and six months ended June 30, 2015 and 2014, approximately $0 and $20,000 and $42,000 and $74,000, respectively, of NRE expense related to the NN1001 Agreement is included in product research and development in the condensed consolidated statements of operations. The $500,000 of NRE development costs under the NN1001 agreement has been reached. Through June 30, 2015, we made no payments under the NN1001 Agreement.

 

On April 25, 2013, we entered into an additional Analog Device Development Agreement with an effective date of December 6, 2012 (the “NN1002 Agreement”) with TI pursuant to which TI will integrate our intellectual property into an ASIC developed by TI. The NN1002 ASIC only can be sold by TI exclusively to licensees of Neonode. Under the terms of the NN1002 Agreement, we will reimburse TI up to $500,000 of NRE costs based on shipments of the NN1002. Under the terms of the NN1002 Agreement we will reimburse TI an NRE fee of $0.25 per unit for each of the first two million units sold. The NN1002 has been released to mass production, yet no expense has been recorded. Through June 30, 2015, we had made no payments under the NN1002 Agreement.

XML 38 R11.htm IDEA: XBRL DOCUMENT v3.2.0.727
Stock-Based Compensation
6 Months Ended
Jun. 30, 2015
Stock-Based Compensation [Abstract]  
Stock-Based Compensation

5.   Stock-Based Compensation

 

The stock-based compensation expense for the three and six months ended June 30, 2015 and 2014 reflects the estimated fair value of the vested portion of options granted to employees, directors and eligible consultants. In addition, on March 3, 2015, the Company issued to certain Swedish employees an aggregate of 265,000 immediately vested options to purchase shares of the Company’s common stock at an exercise price of $4.15 per share that expire on March 3, 2018. Under Sweden law, the employees are required to purchase the stock options from the Company that was recorded as stock-based compensation expense. The purchase price of the stock options was determined to be $0.70 per option for a total amount of $185,500. At the discretion of the Board of Directors, the Company absorbed the cost and recorded the amount as a bonus to these employees on date of grant. Stock-based compensation expense in the accompanying condensed consolidated statements of operations is as follows (in thousands):

 

    Three months ended  
June 30,
    Six months ended  
June 30,
 
    2015     2014     2015     2014  
Product research and development   $ 99     $ 92     $ 322     $ 360  
Sales and marketing     66       76       172       251  
General and administrative     9       175       278       804  
Total stock-based compensation expense   $ 174     $ 343     $ 772     $ 1,415  

 

    Remaining unrecognized 
expense at 
June 30,
2015
 
Stock-based compensation   $ 1,038  

 

The remaining unrecognized expense related to stock options will be recognized on a straight line basis monthly as compensation expense over the remaining vesting period, which approximates 1.9 years.

 

The estimated fair value of stock-based awards is calculated using the Black-Scholes option pricing model, even though this model was developed to estimate the fair value of freely tradable, fully transferable options without vesting restrictions, which differ significantly from our stock options. The Black-Scholes model also requires subjective assumptions, including future stock price volatility and expected time to exercise, which greatly affect the calculated values. The expected term and forfeiture rate of options granted is derived from historical data on employee exercises and post-vesting employment termination behavior, as well as expected behavior on outstanding options. The risk-free rate is based on the U.S. Treasury rates in effect during the corresponding period of grant. The expected volatility is based on the historical volatility of our stock price. These factors could change in the future, which would affect fair values of stock options granted in such future periods, and could cause volatility in the total amount of the stock-based compensation expense reported in future periods.

 

We have adopted equity incentive plans for which stock options and restricted stock awards are available to grant to employees, consultants and directors. Except for the 265,000 options issued to certain Swedish employees (see above), all employee, consultant and director stock options granted under our stock option plans have an exercise price equal to the market value of the underlying common stock on the grant date. There are no vesting provisions tied to performance conditions for any options, as vesting for all outstanding option grants was based only on continued service as an employee, consultant or director. All of our outstanding stock options and restricted stock awards are classified as equity instruments.

 

During the three and six months ended June 30, 2015, our shareholders approved the Neonode Inc. 2015 Stock Incentive Plan (the “2015 Plan”) which replaces our 2006 Equity Incentive Plan (the “2006 Plan”). Under the 2015 Plan, 2,100,000 shares of common stock have been reserved for awards, including nonqualified stock option grants and restricted stock grants to officers, employees, non-employee directors and consultants. The terms of the awards granted under the 2015 Plan are set by our compensation committee at its discretion. During the three and six months ended June 30, 2015, no stock options or restricted stock were granted under the 2015 Plan.

 

Accordingly, as of June 30, 2015 we had three equity incentive plans:

 

  · The 1998 Non-Officer Stock Option Plan (the “1998 Plan”), which expired in June 2008;
  · The 2006 Equity Incentive Plan; and
  · The 2015 Stock Incentive Plan

  

We also had one non-employee director stock option plan as of June 30, 2015:

 

· The 2001 Non-Employee Director Stock Option Plan (the “Director Plan”), which expired in March 2011.

 

A summary of the combined activity under all of the stock option plans is set forth below:

 

    Number of Options Outstanding     Weighted Average Exercise Price  
Outstanding at January 1, 2015     1,709,400     $ 4.92  
Granted     590,000       3.56  
Expired/forfeited     (3,200 )     86.25  
Outstanding at June 30, 2015     2,296,200     $ 4.46  

 

The aggregate intrinsic value of the 2,296,200 stock options that are outstanding, vested and expected to vest as of June 30, 2015 was approximately $34,000.

 

For the three and six months ended June 30, 2015 and 2014, we recorded $0.2 million and $0.8 million and $0.3 million and $1.4 million, respectively, of compensation expense related to the vesting of stock options, including options granted to certain Swedish employees, as described above. The fair value of the stock-based compensation was calculated using the Black-Scholes option pricing model as of the date of grant of the stock option.

 

During the six months ended June 30, 2015, we granted options to purchase 500,000 shares of our common stock to employees and options to purchase 90,000 shares of our common stock to four members of our board of directors with a grant date fair value of $0.6 million computed using the Black-Scholes option pricing model. The total options granted includes 265,000 options issued to certain Swedish employees, as described above. The weighted-average grant date fair value of the options granted during the six months ended June 30, 2015 was $1.26 per share.

 

See below for assumptions used in the valuation of stock options:

 

    For the six months ended
    June 30,
2015
     
Annual dividend yield   -
Expected life (years)   1.50 - 4.35
Risk-free interest rate   0.47% - 1.41%
Expected volatility   68% - 72%

 

The 1998 Plan terminated effective June 15, 2008. Although we can no longer issue stock options out of the plans, the outstanding options at the date of termination will remain outstanding and vest in accordance with their terms. Options granted under the Director Plan vested over a one to four-year period, expire five to seven years after the date of grant and have exercise prices reflecting market value of the shares of our common stock on the date of grant. Stock options granted under the 1998 and 2006 Plans are exercisable over a maximum term of ten years from the date of grant, vest in various installments over a one to four-year period and have exercise prices reflecting the market value of the shares of common stock on the date of grant.

 

Warrants

 

A summary of all warrant activity is set forth below:

 

    June 30, 2015  
Outstanding and exercisable   Warrants     Weighted Average Exercise Price     Weighted Average 
Remaining Contractual Life
 
January 1, 2015     3,335,073     $ 4.45       0.93  
   Granted     -       -       -  
   Expired/cancelled     (80,000 )     0.50       -  
   Exercised     -       -       -  
Outstanding and exercisable, June 30, 2015     3,255,073     $ 4.55       0.42  

 

Outstanding Warrants to Purchase 
Common Stock as of June 30, 2015:
                         
Description   Issue  Date     Exercise
Price
    Shares     Expiration Date  
                         
2007 Debt Extension Warrants     9/22/2010   $ 1.00       16,000       9/22/2015
December 2010 Employee Warrants     12/3/2010   $ 1.63       200,000       12/3/2015
February 2011 Legal Advisor Warrant     2/22/2011   $ 2.50       80,000       2/22/2016
March  2011 Investor Warrants     3/9/2011   $ 3.13       349,973       3/9/2016
March  2011 Investor Warrants     4/7/2011   $ 3.13       34,100       4/7/2016
May 2014 Agent Warrant     5/15/2014   $ 5.09       75,000       11/15/2015
May 2014 Investor Warrant     5/15/2014   $ 5.09       2,500,000       11/15/2015
Total Warrants Outstanding                     3,255,073          

 

XML 39 R23.htm IDEA: XBRL DOCUMENT v3.2.0.727
Summary of Significant Accounting Policies (Details)
6 Months Ended
Jun. 30, 2015
Computer equipment [Member]  
Estimated useful lives of property and equipment  
Estimated useful lives 3 years
Furniture and fixtures [Member]  
Estimated useful lives of property and equipment  
Estimated useful lives 5 years
XML 40 R19.htm IDEA: XBRL DOCUMENT v3.2.0.727
Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of stock-based compensation expense
  Three months ended  
June 30,
  Six months ended  
June 30,
 
  2015  2014  2015  2014 
Product research and development $99  $92  $322  $360 
Sales and marketing  66   76   172   251 
General and administrative  9   175   278   804 
Total stock-based compensation expense $174  $343  $772  $1,415 

 

  Remaining unrecognized 
expense at 
June 30,
2015
 
Stock-based compensation $1,038
Summary of assumptions used to value stock options granted to employees and directors
  For the six months ended
  June 30,
2015
   
Annual dividend yield -
Expected life (years) 1.50 - 4.35
Risk-free interest rate 0.47% - 1.41%
Expected volatility 68% - 72%
Summary of all warrant activity
  June 30, 2015 
Outstanding and exercisable Warrants  Weighted Average Exercise Price  Weighted Average 
Remaining Contractual Life
 
January 1, 2015  3,335,073  $4.45   0.93 
   Granted  -   -   - 
   Expired/cancelled  (80,000)  0.50   - 
   Exercised  -   -   - 
Outstanding and exercisable, June 30, 2015  3,255,073  $4.55   0.42
Employee Stock Option [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of all stock option plans / warrant activity
  Number of Options Outstanding  Weighted Average Exercise Price 
Outstanding at January 1, 2015  1,709,400  $4.92 
Granted  590,000   3.56 
Expired/forfeited  (3,200)  86.25 
Outstanding at June 30, 2015  2,296,200  $4.46
Warrant [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of all stock option plans / warrant activity
Description Issue  Date  Exercise
Price
  Shares  Expiration Date 
             
2007 Debt Extension Warrants  9/22/2010 $1.00   16,000   9/22/2015
December 2010 Employee Warrants  12/3/2010 $1.63   200,000   12/3/2015
February 2011 Legal Advisor Warrant  2/22/2011 $2.50   80,000   2/22/2016
March  2011 Investor Warrants  3/9/2011 $3.13   349,973   3/9/2016
March  2011 Investor Warrants  4/7/2011 $3.13   34,100   4/7/2016
May 2014 Agent Warrant  5/15/2014 $5.09   75,000   11/15/2015
May 2014 Investor Warrant  5/15/2014 $5.09   2,500,000   11/15/2015
Total Warrants Outstanding          3,255,073 
XML 41 R15.htm IDEA: XBRL DOCUMENT v3.2.0.727
Subsequent Events
6 Months Ended
Jun. 30, 2015
Subsequent Events [Abstract]  
Subsequent Events

9.  Subsequent Events

 

We have evaluated subsequent events through the filing date of this Form 10-Q, and determined that no subsequent events have occurred that would require recognition in the condensed consolidated financial statements or disclosure in the notes thereto other than as discussed in the accompanying notes.

XML 42 R13.htm IDEA: XBRL DOCUMENT v3.2.0.727
Segment Information
6 Months Ended
Jun. 30, 2015
Segment Information [Abstract]  
Segment Information

7.   Segment Information

 

We have one reportable segment, which is comprised of the touch technology licensing business. All of our sales for the three and six months ended June 30, 2015 and 2014 were to customers located in the U.S., Europe and Asia. Of our total assets, 74% and 85% were held in the U.S. as of June 30, 2015 and December 31, 2014, respectively, and 24% and 14% were held in Sweden, respectively.

 

The following table presents net revenues by geographic region for the three and six months ended June 30, 2015 and 2014 (in thousands):

 

  Three months ended 
June 30, 2015
  Three months ended 
June 30, 2014
 
  Amount  Percentage  Amount  Percentage 
Net revenues from customers in the Americas $1,557   56% $350   39%
Net revenues from customers in Asia  266   10%  515   61%
Net revenues from customers in Europe  953   34%  -   -%
  $2,776   100% $865   100%

 

  Six months ended 
June 30, 2015
  Six months ended 
June 30, 2014
 
  Amount  Percentage  Amount  Percentage 
Net revenues from customers in the Americas $3,250   65% $1,018   54%
Net revenues from customers in Asia  679   13%  836   45%
Net revenues from customers in Europe  1,110   22%  25   1%
  $5,039   100% $1,879   100%
XML 43 R14.htm IDEA: XBRL DOCUMENT v3.2.0.727
Net Loss Per Share
6 Months Ended
Jun. 30, 2015
Net Loss Per Share [Abstract]  
Net Loss Per Share

8.   Net Loss per Share

 

Basic net loss per common share for the three and six months ended June 30, 2015 and 2014 was computed by dividing the net loss for the relevant period by the weighted average number of shares of common stock outstanding. Diluted loss per common share is computed by dividing net loss by the weighted average number of shares of common stock and common stock equivalents outstanding.

 

Potential common stock equivalents of approximately 43,000 and 0.3 million outstanding stock options and 0.2 million and 0.6 million outstanding stock warrants under the treasury stock method, and 11,000 and 11,000 shares issuable upon conversion of preferred stock are excluded from the diluted earnings per share calculation for the six months ended June 30, 2015 and 2014, respectively, due to their anti-dilutive effect.

 

(in thousands, except per share amounts) Three months ended 
June 30,
 
  2015  2014 
BASIC AND DILUTED      
Weighted average number of common shares outstanding  40,499   39,233 
Net loss $(1,792) $(3,874)
         
Net loss per share - basic and diluted $(0.04) $(0.10)

 

(in thousands, except per share amounts) Six months ended 
June 30,
 
  2015  2014 
BASIC AND DILUTED      
Weighted average number of common shares outstanding  40,477   38,587 
Net loss $(3,864) $(7,882)
         
Net loss per share - basic and diluted $(0.10) $(0.20)
XML 44 R16.htm IDEA: XBRL DOCUMENT v3.2.0.727
Summary of Significant Accounting Policies (Policies)
6 Months Ended
Jun. 30, 2015
Summary of Significant Accounting Policies [Abstract]  
Principles of Consolidation

Principles of Consolidation

 

The consolidated financial statements have been prepared in accordance with U.S. GAAP and include the accounts of Neonode Inc. and its wholly owned subsidiaries. All inter-company accounts and transactions have been eliminated in consolidation.

 

The unaudited condensed consolidated balance sheet at June 30, 2015 and the unaudited condensed consolidated statements of operations and comprehensive loss for the three and six months ended June 30, 2015 and cash flows for the six months ended June 30, 2015, include our accounts and those of our wholly owned subsidiaries, Neonode Technologies AB (Sweden), Neonode Americas Inc. (U.S.), Neonode Japan Inc. (Japan), NEON Technology Inc. (U.S.), Neno User Interface Solutions AB (Sweden), Neonode Korea Ltd. (South Korea) and Neonode Taiwan Ltd. (Taiwan).

 

The audited condensed consolidated balance sheet at December 31, 2014 include our accounts and those of our wholly owned subsidiaries, Neonode Technologies AB (Sweden), Neonode Americas Inc. (U.S.), Neonode Japan Inc. (Japan), NEON Technology Inc. (U.S.), Neno User Interface Solutions AB (Sweden) and Neonode Korea Ltd. (South Korea).   

 

The unaudited condensed consolidated statements of operations and comprehensive loss for the three and six months ended June 30, 2014 and cash flows for the six months ended June 30, 2014 include our accounts and those of our wholly owned subsidiaries, Neonode Technologies AB (Sweden), Neonode Americas Inc. (U.S.), Neonode Japan Inc. (Japan), NEON Technology Inc. (U.S.) and Neno User Interface Solutions AB (Sweden).

Estimates

Estimates

 

The preparation of consolidated financial statements in conformity with U.S. GAAP requires making estimates and assumptions that affect, at the date of the consolidated financial statements, the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities and the reported amounts of revenue and expenses. Actual results could differ from these estimates. Significant estimates include, but are not limited to, collectability of accounts receivable, the achievement of substantive milestones and vendor-specific objective evidence (“VSOE”) of fair value for purposes of revenue recognition (or deferral of revenue), recoverability of capitalized project costs and long-lived assets, the valuation allowance related to our deferred tax assets and the fair value of options and warrants issued for stock-based compensation.

Concentration of Cash Balance Risks

Concentration of Cash Balance Risks

 

Cash balances are maintained at various banks in the U.S., Japan, Korea, Taiwan and Sweden. At times, deposits held with financial institutions in the U.S. may exceed the amount of insurance provided by the U.S. Federal Deposit Insurance Corporation, which provides basic deposit coverage with limits up to $250,000 per owner. The Swedish government provides insurance coverage up to 100,000 Euro per customer and covers deposits in all types of accounts. The Japanese government provides insurance coverage up to 10,000,000 Yen per customer. The Korea Deposit Insurance Corporation provides insurance coverage up to 50,000,000 Won per customer. The Central Deposit Insurance Corporation in Taiwan provides insurance coverage up to 3,000,000 Taiwan Dollar per customer. As of June 30, 2015, we had approximately $2.7 million in excess of insurance limits.

Accounts Receivable and Allowance for Doubtful Accounts

Accounts Receivable and Allowance for Doubtful Accounts  

 

Our accounts receivable are stated at net realizable value. Our policy is to maintain allowances for estimated losses resulting from the inability of our customers to make required payments. Credit limits are established through a process of reviewing the financial history and stability of each customer. Where appropriate, we obtain credit rating reports and financial statements of the customer when determining or modifying its credit limits. We regularly evaluate the collectability of our trade receivable balances based on a combination of factors. When a customer’s account balance becomes past due, we initiate dialogue with the customer to determine the cause. If it is determined that the customer will be unable to meet its financial obligation, such as in the case of a bankruptcy filing, deterioration in the customer’s operating results or financial position or other material events impacting its business, we record a specific allowance to reduce the related receivable to the amount we expect to recover. Should all efforts fail to recover the related receivable, we will write-off the account. We also record an allowance for all customers based on certain other factors including the length of time the receivables are past due and historical collection experience with customers. Our allowance for doubtful accounts was $167,000 as of June 30, 2015 and December 31, 2014.

Projects in Process

Projects in Process

 

Projects in process consist of costs incurred toward the completion of various projects for certain customers. These costs are primarily comprised of direct engineering labor costs and project-specific equipment costs. These costs are capitalized on our consolidated balance sheet as an asset and deferred until revenue for each project is recognized in accordance with our revenue recognition policy. Costs capitalized in projects in process were $725,000 and $200,000 as of June 30, 2015 and December 31, 2014, respectively.

Property and Equipment

Property and Equipment

 

Property and equipment are stated at cost, net of accumulated depreciation and amortization. Depreciation and amortization are computed using the straight-line method based upon estimated useful lives of the assets as follows:

 

Estimated useful lives

 

Computer equipment3 years
Furniture and  fixtures5 years

 

Equipment purchased under capital leases is amortized on a straight-line basis over the estimated useful life of the asset or the term of the lease, whichever is shorter.

 

Upon retirement or sale of property and equipment, cost and accumulated depreciation and amortization are removed from the accounts and any gains or losses are reflected in the consolidated statement of operations. Maintenance and repairs are charged to expense as incurred.

Long-lived Assets

Long-lived Assets

 

We assess any impairment by estimating the future cash flow from the associated asset in accordance with relevant accounting guidance. If the estimated undiscounted future cash flow related to these assets decreases or the useful life is shorter than originally estimated, we may incur charges for impairment of these assets. As of June 30, 2015, we believe there was no impairment of our long-lived assets. There can be no assurance, however, that market conditions will not change or sufficient demand for our products and services will continue, which could result in impairment of long-lived assets in the future.

Foreign Currency Translation and Transaction Gains and Losses

Foreign Currency Translation and Transaction Gains and Losses

 

The functional currency of our foreign subsidiaries is the applicable local currency, the Swedish Krona, the Japanese Yen, the South Korean Won and the Taiwan Dollar. The translation from Swedish Krona, Japanese Yen, South Korean Won and Taiwan Dollar to U.S. Dollars is performed for balance sheet accounts using current exchange rates in effect at the balance sheet date and for income statement accounts using a weighted-average exchange rate during the period. Gains or (losses) resulting from translation are included as a separate component of accumulated other comprehensive income (loss). Foreign currency translation losses were $(49,000) and $(47,000) during the three and six months ended June 30, 2015, respectively, compared to translation gains of $30,000 and $65,000 during the same periods in 2014, respectively. Gains resulting from foreign currency transactions are included in general and administrative expenses in the accompanying consolidated statements of operations and were $5,000 and $31,000 during the three and six months ended June 30, 2015, respectively, compared to $8,000 and $34,000 during the same periods in 2014, respectively.

Concentration of Credit and Business Risks

Concentration of Credit and Business Risks

 

Our customers are located in U.S., Europe and Asia.

 

As of June 30, 2015, two customers represented approximately 90% of the Company’s accounts receivable. 

 

As of December 31, 2014, three customers represented approximately 87% of the Company’s accounts receivable. 

 

Our net revenues for the three and six months ended June 30, 2015 were earned from twenty-one and twenty-seven customers, respectively. Customers who accounted for 10% or more of our net revenues during the three months ended June 30, 2015 are as follows:

 

·Autoliv Development AB – 31%
·Hewlett Packard Company – 28%
·Amazon -11%

 

Customers who accounted for 10% or more of our net revenues during the six months ended June 30, 2015 are as follows:

 

·Hewlett Packard Company –29%
·Amazon -19%
·Autoliv Development AB – 17%

 

Our net revenues for the three and six months ended June 30, 2014 were earned from nineteen and twenty-two customers. Customers who accounted for 10% or more of our net revenues during the three months ended June 30, 2014 are as follows:

 

·Delphi Electronics and Safety – 14%
·Hewlett Packard Company – 12%
·Netronix Inc. – 11%
·KOBO Inc. – 15%
·Wave Group Ltd. – 11%
·Clarion Industries Co., Ltd. – 12%

 

Customers who accounted for 10% or more of our net revenues during the six months ended June 30, 2014 are as follows:

 

·Leap Frog – 19%
·Kobo Inc. – 13%
·Netronix Inc. – 13%
·Sony Corporation. – 11%
Revenue Recognition

Revenue Recognition

 

Licensing Revenues:

 

We derive revenue from the licensing of internally developed intellectual property (“IP”). We enter into IP licensing agreements that generally provide licensees the right to incorporate our IP components in their products with terms and conditions that vary by licensee. Fees under these agreements may include license fees relating to our IP and royalties payable following the distribution by our licensees of products incorporating the licensed technology. The license for our IP has standalone value and can be used by the licensee without maintenance and support. We follow U.S. GAAP for revenue recognition as per unit royalty products are distributed or licensed by our customers. For technology license arrangements that do not require significant modification or customization of the underlying technology, we recognize technology license revenue when: (1) we enter into a legally binding arrangement with a customer for the license of technology; (2) the customer distributes or licenses the products; (3) the customer payment is deemed fixed or determinable and free of contingencies or significant uncertainties; and (4) collection is reasonably assured. Our customers report to us the quantities of products distributed or licensed by them after the end of the reporting period stipulated in the contract, generally 30 to 45 days after the end of the month or quarter. We recognize licensing revenue in the period in which royalty reports are received, rather than the period in which the products are distributed or to which the license relates.

 

Explicit return rights are not offered to customers. There have been no returns through June 30, 2015.

 

Engineering Services:

 

We may sell engineering consulting services to our customers on a flat rate or hourly rate basis. We recognize revenue from these services when all of the following conditions are met: (1) evidence existed of an arrangement with the customer, typically consisting of a purchase order or contract; (2) our services were performed and risk of loss passed to the customer; (3) we completed all of the necessary terms of the contract; (4) the amount of revenue to which we were entitled was fixed or determinable; and (5) we believed it was probable that we would be able to collect the amount due from the customer. To the extent that one or more of these conditions has not been satisfied, we defer recognition of revenue.  

 

Generally, we recognize revenue as the engineering services stipulated under the contract are completed and accepted by our customers.  Engineering services are performed under a signed Statement of Work (“SOW”) with a customer. The deliverables and payment terms stipulated under the SOW provide guidance on the project revenue recognition.

 

Revenues from contracts that are short-term in nature and related costs that are difficult to estimate are accounted for under the completed contract method.

 

Revenues from contracts with substantive defined milestones that we have determined are reasonable, relevant to all the deliverables and payment terms in the SOW that are commensurate with the efforts required to achieve the milestones are recognized under the milestone recognition method.

 

Estimated losses on all SOW projects are recognized in full as soon as they become evident.

Deferred Revenues

Deferred Revenues

 

From time-to-time we receive pre-payments from our customers related to future services or future license fee revenues. We defer the license fees until we have met all accounting requirements for revenue recognition as per unit royalty products are distributed and royalty reports are received. Engineering development fee revenues are deferred until such time as the engineering work has been completed and accepted by our customers.

Advertising

Advertising

 

Advertising costs are expensed as incurred. Advertising costs for the three and six months ended June 30, 2015 amounted to approximately $8,000 and $28,000, respectively. Advertising costs for the three and six months ended June 30, 2014 amounted to approximately $23,000 and $129,000, respectively.

Product Research and Development

Product Research and Development

 

Research and development (“R&D”) costs are expensed as incurred. R&D costs consist mainly of personnel related costs in addition to some external consultancy costs such as testing, certifying and measurements. 

Stock-Based Compensation Expense

Stock-Based Compensation Expense

 

We measure the cost of employee services received in exchange for an award of equity instruments, including stock options, based on the estimated fair value of the award on the grant date, and recognize the value as compensation expense over the period the employee is required to provide services in exchange for the award, usually the vesting period, net of estimated forfeitures.

 

 We account for equity instruments issued to non-employees at their estimated fair value. The measurement date for the estimated fair value for the equity instruments issued is determined at the earlier of (1) the date at which a commitment for performance by the consultant or vendor is reached, or (2) the date at which the consultant or vendor’s performance is complete. In the case of equity instruments issued to consultants, the fair value of the equity instruments is primarily recognized over the term of the consulting agreement. The estimated fair value of the stock-based compensation is periodically re-measured and income or expense is recognized during the vesting term.

 

When determining stock-based compensation expense involving options and warrants, we determine the estimated fair value of options and warrants using the Black-Scholes option pricing model.

Income Taxes

Income Taxes

 

We recognize deferred tax liabilities and assets for the expected future tax consequences of items that have been included in the consolidated financial statements or tax returns. We estimate income taxes based on rates in effect in each of the jurisdictions in which we operate. Deferred income tax assets and liabilities are determined based upon differences between the financial statement and income tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The realization of deferred tax assets is based on historical tax positions and expectations about future taxable income. Valuation allowances are recorded against net deferred tax assets when, in our opinion, realization is uncertain based on the “more likely than not” criteria of the accounting guidance.

 

Based on the uncertainty of future pre-tax income, we fully reserved our net deferred tax assets as of June 30, 2015 and December 31, 2014. In the event we were to determine that we would be able to realize our deferred tax assets in the future, an adjustment to the deferred tax asset would increase income in the period such determination was made. The provision for income taxes represents the net change in deferred tax amounts, plus income taxes paid or payable for the current period.

 

We follow U.S. GAAP related to accounting for uncertainty in income taxes, which provisions include a two-step approach to recognizing, de-recognizing and measuring uncertainty in income taxes.  As a result, we did not recognize a liability for unrecognized tax benefits. As of June 30, 2015 and December 31, 2014, we had no unrecognized tax benefits.

Net Loss Per Share

Net Loss per Share

 

Net loss per share amounts have been computed based on the weighted average number of shares of common stock outstanding during the three and six months ended June 30, 2015 and 2014. Net loss per share, assuming dilution amounts from common stock equivalents, is computed based on the weighted-average number of shares of common stock and potential common stock equivalents outstanding during the period. The weighted-average number of shares of common stock and potential common stock equivalents used in computing the net loss per share for the three and six months ended June 30, 2015 and 2014 exclude the potential common stock equivalents, as the effect would be anti-dilutive (See Note 8).

Other Comprehensive Income (Loss)

Other Comprehensive Income (Loss) 

 

Our other comprehensive income (loss) includes foreign currency translation gains and losses. The cumulative amount of translation gains and losses are reflected as a separate component of stockholders’ equity in the consolidated balance sheets as accumulated other comprehensive income.

Cash Flow Information

Cash Flow Information

 

Cash flows in foreign currencies have been converted to U.S. dollars at an approximate weighted-average exchange rate for the respective reporting periods. The weighted-average exchange rate for the condensed consolidated statements of operations and comprehensive loss was 8.42 and 6.60 Swedish Krona to one U.S. Dollar for the three months ended June 30, 2015 and 2014, respectively. The weighted-average exchange rate for the condensed consolidated statements of operations and comprehensive loss was 8.37 and 6.53 Swedish Krona to one U.S. Dollar for the six months ended June 30, 2015 and 2014, respectively. The exchange rate for the condensed consolidated balance sheets was 8.31 and 7.80 Swedish Krona to one U.S. Dollar as of June 30, 2015 and December 31, 2014, respectively. The weighted-average exchange rate for the condensed consolidated statements of operations and comprehensive loss was 121.29 and 102.12 Japanese Yen to one U.S. Dollar for the three months ended June 30, 2015 and 2014, respectively. The weighted-average exchange rate for the condensed consolidated statements of operations and comprehensive loss was 120.23 and 102.47 Japanese Yen to one U.S. Dollar for the six months ended June 30, 2015 and 2014, respectively. The exchange rate for the condensed consolidated balance sheets was 122.72 and 119.93 Japanese Yen to one U.S. Dollar as of June 30, 2015 and December 31, 2014, respectively. The weighted-average exchange rate for the condensed consolidated statements of operations and comprehensive loss was 1,096.06 South Korean Won to one U.S. Dollar for the three months ended June 30, 2015. The weighted-average exchange rate for the condensed consolidated statements of operations and comprehensive loss was 1,098.02 South Korean Won to one U.S. Dollar for the six months ended June 30, 2015. The exchange rate for the condensed consolidated balance sheets was 1,126.89 and 1,096.73 South Korean Won to one U.S. Dollar as of June 30, 2015 and December 31, 2014, respectively. The weighted-average exchange rate for the condensed consolidated statements of operations and comprehensive loss was 30.78 Taiwan Dollar to one U.S. Dollar for the three months ended June 30, 2015. The weighted-average exchange rate for the condensed consolidated statements of operations and comprehensive loss was 31.17 Taiwan Dollar to one U.S. Dollar for the six months ended June 30, 2015. The exchange rate for the condensed consolidated balance sheet was 30.92 Taiwan Dollar to one U.S. Dollar as of June 30, 2015.

Fair Value of Financial Instruments

Fair Value of Financial Instruments

 

We disclose the estimated fair values for all financial instruments for which it is practicable to estimate fair value. Financial instruments including cash, accounts receivable, accounts payable and accrued expenses and are deemed to approximate fair value due to their short maturities.

New Accounting Pronouncements

New Accounting Pronouncements

 

In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” (“ASU 2014-09”). ASU 2014-09 amends the guidance for revenue recognition to replace numerous, industry specific requirements and converges areas under this topic with those of the International Financial Reporting Standards. The ASU implements a five-step process for customer contract revenue recognition that focuses on transfer of control, as opposed to transfer of risk and rewards. The amendment also requires enhanced disclosures regarding the nature, amount, timing and uncertainty of revenues and cash flows from contracts with customers. Other major provisions include the capitalization and amortization of certain contract costs, ensuring the time value of money is considered in the transaction price, and allowing estimates of variable consideration to be recognized before contingencies are resolved in certain circumstances. Entities can transition to the standard either retrospectively or as a cumulative-effect adjustment as of the date of adoption. On July 9, 2015, the FASB approved amendments deferring the effective date by one year to December 15, 2017 for annual reporting periods beginning after that date and permitting early adoption of the standard, but not before the original effective date or for reporting periods beginning after December 15, 2016. We have not yet selected a transition method and are currently assessing the impact the adoption of ASU 2014-09 will have on our consolidated financial statements and disclosures.

 

In August 2014, the FASB issued ASU No. 2014-15, “Presentation of Financial Statements - Going Concern: Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern”. The amendments in this update provide guidance in U.S. GAAP about management's responsibilities to evaluate whether there is substantial doubt about an entity's ability to continue as a going concern and to provide related footnote disclosures. The main provision of the amendments are for an entity's management, in connection with the preparation of financial statements, to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the entity's ability to continue as a going concern within one year after the date that the financial statements are issued. Management's evaluation should be based on relevant conditions and events that are known or reasonably knowable at the date the consolidated financial statements are issued. When management identifies conditions or events that raise substantial doubt about an entity's ability to continue as a going concern, the entity should disclose information that enables users of the consolidated financial statements to understand all of the following: (1) principal conditions or events that raised substantial doubt about the entity's ability to continue as a going concern (before consideration of management's plans); (2) management's evaluation of the significance of those conditions or events in relation to the entity's ability to meet its obligations; and (3) management's plans that alleviated substantial doubt about the entity's ability to continue as a going concern or management's plans that are intended to mitigate the conditions or events that raise substantial doubt about the entity's ability to continue as a going concern. The amendments in this update are effective for interim and annual reporting periods beginning after December 15, 2016 and early application is permitted. We are currently assessing this guidance for future implementation.

XML 45 R34.htm IDEA: XBRL DOCUMENT v3.2.0.727
Commitments and Contingencies (Details) - USD ($)
3 Months Ended 6 Months Ended
Dec. 06, 2012
Jan. 24, 2010
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Commitments and Contingencies (Textual)            
Non-recurring engineering development costs contributed to TI $ 500,000 $ 500,000        
Description of NRE cost contributed to TI Under the terms of the NN1002 Agreement we will reimburse TI an NRE fee of $0.25 per unit for each of the first two million units sold. Under the terms of the NN1001 Agreement, we will reimburse TI an NRE fee of $0.08 per unit for each of the first one million units sold and $0.05 for the next eight million units sold.     The $500,000 of NRE development costs under the NN1001 agreement has been reached.  
NRE cost contributed for each of first one million unit sold, Per unit   $ 0.08        
NRE cost contributed for next eight million unit sold, Per unit   $ 0.05        
NRE fee contributed for each of first two million unit sold, Per unit $ 0.25          
Non recurring expense included in product research and development     $ 0 $ 42,000 $ 20,000 $ 74,000
XML 46 R21.htm IDEA: XBRL DOCUMENT v3.2.0.727
Net Loss Per Share (Tables)
6 Months Ended
Jun. 30, 2015
Net Loss Per Share [Abstract]  
Basic and diluted for net loss per share
(in thousands, except per share amounts) Three months ended 
June 30,
 
  2015  2014 
BASIC AND DILUTED      
Weighted average number of common shares outstanding  40,499   39,233 
Net loss $(1,792) $(3,874)
         
Net loss per share - basic and diluted $(0.04) $(0.10)

 

(in thousands, except per share amounts) Six months ended 
June 30,
 
  2015  2014 
BASIC AND DILUTED      
Weighted average number of common shares outstanding  40,477   38,587 
Net loss $(3,864) $(7,882)
         
Net loss per share - basic and diluted $(0.10) $(0.20)
XML 47 R26.htm IDEA: XBRL DOCUMENT v3.2.0.727
Stockholders' Equity (Details) - Series B Preferred Stock [Member]
1 Months Ended 6 Months Ended
Mar. 31, 2009
shares
Jun. 30, 2015
shares
Schedule of conversion of preferred stock issued to common stock    
Shares of Common Stock after Conversion of all Outstanding Shares of Preferred Stock Not yet Exchanged 132.07 10,962
Shares of Preferred Stock Not Exchanged   83
Conversion Ratio   132.07
XML 48 R5.htm IDEA: XBRL DOCUMENT v3.2.0.727
Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Statements of Comprehensive Loss [Abstract]        
Net loss $ (1,792) $ (3,874) $ (3,864) $ (7,882)
Other comprehensive income (loss):        
Foreign currency translation adjustments (49) 30 (47) 65
Total comprehensive loss $ (1,841) $ (3,844) $ (3,911) $ (7,817)
XML 49 R10.htm IDEA: XBRL DOCUMENT v3.2.0.727
Stockholders' Equity
6 Months Ended
Jun. 30, 2015
Stockholders' Equity [Abstract]  
Stockholders' Equity

4.   Stockholders’ Equity

 

Common Stock

 

During the six months ended June 30, 2015, a warrant holder exercised warrants to purchase 80,000 shares of common stock using the cashless net exercise provision allowed in the warrant and received 69,632 shares of our common stock.

 

Preferred Stock

 

We have one class of preferred stock outstanding. The terms of the Series B Preferred stock are as follows:

 

Dividends and Distributions

 

The holders of shares of Series B Preferred stock are entitled to participate with the holders of our common stock with respect to any dividends declared on the common stock in proportion to the number of shares of common stock issuable upon conversion of the shares of Series B Preferred stock held by them.

 

Liquidation Preference

 

In the event of any liquidation, dissolution, or winding up of our operations, either voluntary or involuntary, subject to the rights of the Series B Preferred stock and Senior Preferred stock, shall be entitled to receive, after any distribution to the holders of senior preferred stock and prior to and in preference to any distribution to the holders of common stock, $0.001 for each share of Series B Preferred stock then outstanding.

 

Voting

 

The holders of shares of Series B Preferred stock have one vote for each share of Series B Preferred stock held by them.

 

Conversion

 

Initially, each share of Series B Preferred stock was convertible into one share of our common stock. On March 31, 2009, our stockholders approved a resolution to increase the authorized share capital, and to increase the conversion ratio to 132.07 shares of our common stock for each share of Series B Preferred stock.   

 

Conversion of Preferred Stock Issued to Common Stock

 

The following table summarizes the amounts as of June 30, 2015. 

 

  Shares of Preferred Stock Not Exchanged as of June 30, 2015  Conversion Ratio  Shares of Common Stock after Conversion of all Outstanding Shares of Preferred Stock Not yet Exchanged at June 30,
2015
 
             
Series B Preferred stock  83   132.07   10,962 
XML 50 R27.htm IDEA: XBRL DOCUMENT v3.2.0.727
Stockholders' Equity (Details Textual) - $ / shares
1 Months Ended 6 Months Ended
Mar. 31, 2009
Jun. 30, 2015
Dec. 31, 2014
Series B Preferred Stock [Member]      
Stockholders' Equity (Textual)      
Preferred stock, liquidation preference   $ 0.001 $ 0.001
Conversion of shares 132.07 10,962  
Common Stock [Member]      
Stockholders' Equity (Textual)      
Warrants issued to purchase shares of common stock   80,000  
Common stock purchased by exercise of warrants   69,632  
XML 51 FilingSummary.xml IDEA: XBRL DOCUMENT 3.2.0.727 html 105 186 1 false 39 0 false 9 false false R1.htm 001 - Document - Document and Entity Information Sheet http://www.neonode.com/role/Documentandentityinformation Document and Entity Information Cover 1 false false R2.htm 002 - Statement - Condensed Consolidated Balance Sheets (Unaudited) Sheet http://www.neonode.com/role/CondensedConsolidatedBalanceSheetsUnaudited Condensed Consolidated Balance Sheets (Unaudited) Statements 2 false false R3.htm 003 - Statement - Condensed Consolidated Balance Sheets (Unaudited)(Parenthetical) Sheet http://www.neonode.com/role/CondensedConsolidatedBalanceSheetsUnauditedparenthetical Condensed Consolidated Balance Sheets (Unaudited)(Parenthetical) Statements 3 false false R4.htm 004 - Statement - Condensed Consolidated Statements of Operations (Unaudited) Sheet http://www.neonode.com/role/CondensedConsolidatedStatementsOfOperationsUnaudited Condensed Consolidated Statements of Operations (Unaudited) Statements 4 false false R5.htm 005 - Statement - Condensed Consolidated Statements of Comprehensive Loss (Unaudited) Sheet http://www.neonode.com/role/Condensedconsolidatedstatementsofcomprehensivelossunaudited Condensed Consolidated Statements of Comprehensive Loss (Unaudited) Statements 5 false false R6.htm 006 - Statement - Condensed Consolidated Statements of Cash Flows (Unaudited) Sheet http://www.neonode.com/role/CondensedConsolidatedStatementsOfCashFlowsUnaudited Condensed Consolidated Statements of Cash Flows (Unaudited) Statements 6 false false R7.htm 007 - Disclosure - Interim Period Reporting Sheet http://www.neonode.com/role/InterimPeriodReporting Interim Period Reporting Notes 7 false false R8.htm 008 - Disclosure - Summary of Significant Accounting Policies Sheet http://www.neonode.com/role/SummaryOfSignificantAccountingPolicies Summary of Significant Accounting Policies Notes 8 false false R9.htm 009 - Disclosure - Deferred Revenues Sheet http://www.neonode.com/role/DeferredRevenues Deferred Revenues Notes 9 false false R10.htm 010 - Disclosure - Stockholders' Equity Sheet http://www.neonode.com/role/StockholdersEquity Stockholders' Equity Notes 10 false false R11.htm 011 - Disclosure - Stock-Based Compensation Sheet http://www.neonode.com/role/StockBasedCompensation Stock-Based Compensation Notes 11 false false R12.htm 012 - Disclosure - Commitments and Contingencies Sheet http://www.neonode.com/role/CommitmentsAndContingencies Commitments and Contingencies Notes 12 false false R13.htm 013 - Disclosure - Segment Information Sheet http://www.neonode.com/role/SegmentInformation Segment Information Notes 13 false false R14.htm 014 - Disclosure - Net Loss Per Share Sheet http://www.neonode.com/role/NetLossPerShare Net Loss Per Share Notes 14 false false R15.htm 015 - Disclosure - Subsequent Events Sheet http://www.neonode.com/role/SubsequentEvents Subsequent Events Notes 15 false false R16.htm 016 - Disclosure - Summary of Significant Accounting Policies (Policies) Sheet http://www.neonode.com/role/SummaryofSignificantAccountingPoliciesPolicies Summary of Significant Accounting Policies (Policies) Policies http://www.neonode.com/role/SummaryOfSignificantAccountingPolicies 16 false false R17.htm 017 - Disclosure - Summary of Significant Accounting Policies (Tables) Sheet http://www.neonode.com/role/SummaryofSignificantAccountingPoliciesTables Summary of Significant Accounting Policies (Tables) Tables http://www.neonode.com/role/SummaryOfSignificantAccountingPolicies 17 false false R18.htm 018 - Disclosure - Stockholders' Equity (Tables) Sheet http://www.neonode.com/role/StockholdersEquityTables Stockholders' Equity (Tables) Tables http://www.neonode.com/role/StockholdersEquity 18 false false R19.htm 019 - Disclosure - Stock-Based Compensation (Tables) Sheet http://www.neonode.com/role/StockBasedCompensationTables Stock-Based Compensation (Tables) Tables http://www.neonode.com/role/StockBasedCompensation 19 false false R20.htm 020 - Disclosure - Segment Information (Tables) Sheet http://www.neonode.com/role/SegmentInformationTables Segment Information (Tables) Tables http://www.neonode.com/role/SegmentInformation 20 false false R21.htm 021 - Disclosure - Net Loss Per Share (Tables) Sheet http://www.neonode.com/role/NetLossPerShareTables Net Loss Per Share (Tables) Tables http://www.neonode.com/role/NetLossPerShare 21 false false R22.htm 022 - Disclosure - Interim Period Reporting (Details Textual) Sheet http://www.neonode.com/role/InterimPeriodReportingDetailsTextual Interim Period Reporting (Details Textual) Details http://www.neonode.com/role/InterimPeriodReporting 22 false false R23.htm 023 - Disclosure - Summary of Significant Accounting Policies (Details) Sheet http://www.neonode.com/role/SummaryOfSignificantAccountingPoliciesDetails Summary of Significant Accounting Policies (Details) Details http://www.neonode.com/role/SummaryofSignificantAccountingPoliciesTables 23 false false R24.htm 024 - Disclosure - Summary of Significant Accounting Policies (Details Textual) Sheet http://www.neonode.com/role/SummaryOfSignificantAccountingPoliciesDetailsTextual Summary of Significant Accounting Policies (Details Textual) Details http://www.neonode.com/role/SummaryofSignificantAccountingPoliciesTables 24 false false R25.htm 025 - Disclosure - Deferred Revenues (Details) Sheet http://www.neonode.com/role/DeferredRevenuesDetails Deferred Revenues (Details) Details http://www.neonode.com/role/DeferredRevenues 25 false false R26.htm 026 - Disclosure - Stockholders' Equity (Details) Sheet http://www.neonode.com/role/StockholdersEquityDetails Stockholders' Equity (Details) Details http://www.neonode.com/role/StockholdersEquityTables 26 false false R27.htm 027 - Disclosure - Stockholders' Equity (Details Textual) Sheet http://www.neonode.com/role/StockholdersEquityDetailsTextual Stockholders' Equity (Details Textual) Details http://www.neonode.com/role/StockholdersEquityTables 27 false false R28.htm 028 - Disclosure - Stock-Based Compensation (Details) Sheet http://www.neonode.com/role/StockBasedCompensationDetails Stock-Based Compensation (Details) Details http://www.neonode.com/role/StockBasedCompensationTables 28 false false R29.htm 029 - Disclosure - Stock-Based Compensation (Details 1) Sheet http://www.neonode.com/role/StockBasedCompensationDetails1 Stock-Based Compensation (Details 1) Details http://www.neonode.com/role/StockBasedCompensationTables 29 false false R30.htm 030 - Disclosure - Stock-Based Compensation (Details 2) Sheet http://www.neonode.com/role/StockBasedCompensationDetails2 Stock-Based Compensation (Details 2) Details http://www.neonode.com/role/StockBasedCompensationTables 30 false false R31.htm 031 - Disclosure - Stock-Based Compensation (Details 3) Sheet http://www.neonode.com/role/StockBasedCompensationDetails3 Stock-Based Compensation (Details 3) Details http://www.neonode.com/role/StockBasedCompensationTables 31 false false R32.htm 032 - Disclosure - Stock-Based Compensation (Details 4) Sheet http://www.neonode.com/role/StockBasedCompensationDetails4 Stock-Based Compensation (Details 4) Details http://www.neonode.com/role/StockBasedCompensationTables 32 false false R33.htm 033 - Disclosure - Stock Based Compensation (Details Textual) Sheet http://www.neonode.com/role/StockBasedCompensationDetailsTextual Stock Based Compensation (Details Textual) Details 33 false false R34.htm 034 - Disclosure - Commitments and Contingencies (Details) Sheet http://www.neonode.com/role/CommitmentsAndContingenciesDetailsTextual Commitments and Contingencies (Details) Details http://www.neonode.com/role/CommitmentsAndContingencies 34 false false R35.htm 035 - Disclosure - Segment Information (Details) Sheet http://www.neonode.com/role/Segmentinformationdetails Segment Information (Details) Details http://www.neonode.com/role/SegmentInformationTables 35 false false R36.htm 036 - Disclosure - Segment Information (Details Textual) Sheet http://www.neonode.com/role/Segmentinformationdetailstextual Segment Information (Details Textual) Details http://www.neonode.com/role/SegmentInformationTables 36 false false R37.htm 037 - Disclosure - Net Loss Per Share (Details) Sheet http://www.neonode.com/role/NetLossPerShareDetails Net Loss Per Share (Details) Details http://www.neonode.com/role/NetLossPerShareTables 37 false false R38.htm 038 - Disclosure - Net Loss Per Share (Details Textual) Sheet http://www.neonode.com/role/NetLossPerShareDetailsTextual Net Loss Per Share (Details Textual) Details http://www.neonode.com/role/NetLossPerShareTables 38 false false All Reports Book All Reports In ''Condensed Consolidated Balance Sheets (Unaudited)'', column(s) 3, 4 are contained in other reports, so were removed by flow through suppression. In ''Condensed Consolidated Statements of Comprehensive Loss (Unaudited)'', column(s) 5 are contained in other reports, so were removed by flow through suppression. In ''Condensed Consolidated Statements of Cash Flows (Unaudited)'', column(s) 1, 2 are contained in other reports, so were removed by flow through suppression. neond-20150630.xml neond-20150630_cal.xml neond-20150630_def.xml neond-20150630_lab.xml neond-20150630_pre.xml neond-20150630.xsd true true XML 52 R38.htm IDEA: XBRL DOCUMENT v3.2.0.727
Net Loss Per Share (Details Textual) - shares
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Stock Option [Member]    
Net Loss Per Share (Textual)    
Antidilutive securities excluded from computation of earnings per share 43,000 300,000
Warrant [Member]    
Net Loss Per Share (Textual)    
Antidilutive securities excluded from computation of earnings per share 200,000 600,000
Convertible Preferred Stock [Member]    
Net Loss Per Share (Textual)    
Antidilutive securities excluded from computation of earnings per share 11,000 11,000
XML 53 R20.htm IDEA: XBRL DOCUMENT v3.2.0.727
Segment Information (Tables)
6 Months Ended
Jun. 30, 2015
Segment Information [Abstract]  
Summary of net revenues by geographic region
  Three months ended 
June 30, 2015
  Three months ended 
June 30, 2014
 
  Amount  Percentage  Amount  Percentage 
Net revenues from customers in the Americas $1,557   56% $350   39%
Net revenues from customers in Asia  266   10%  515   61%
Net revenues from customers in Europe  953   34%  -   -%
  $2,776   100% $865   100%

 

  Six months ended 
June 30, 2015
  Six months ended 
June 30, 2014
 
  Amount  Percentage  Amount  Percentage 
Net revenues from customers in the Americas $3,250   65% $1,018   54%
Net revenues from customers in Asia  679   13%  836   45%
Net revenues from customers in Europe  1,110   22%  25   1%
  $5,039   100% $1,879   100%