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      &amp;#160;&amp;#160;Recently Issued Accounting Pronouncements&lt;/font&gt;

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      &lt;font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"&gt;We

      reviewed all recently issued accounting pronouncements and

      determined either that they are not applicable to our

      business or that no material effect is expected on our

      financial position, results of operations or

      disclosures.&lt;/font&gt;

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 -Publisher FASB

 -Name Accounting Standards Codification

 -Topic 250

 -SubTopic 10

 -Section S99

 -Paragraph 5

 -Subparagraph (SAB TOPIC 11.M)

 -URI http://asc.fasb.org/extlink&amp;oid=26874127&amp;loc=d3e31137-122693



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

 -Publisher SEC

 -Name Staff Accounting Bulletin (SAB)

 -Number Topic 11

 -Section M



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