Delaware
|
80-0445030
|
|
(State or Other Jurisdiction of
|
(IRS Employer)
|
|
Incorporation or Organization)
|
Identification No.)
|
Large
Accelerated Filer ¨
|
Accelerated
Filer ¨
|
|
Non-accelerated
Filer ¨
|
Smaller
Reporting Company x
|
Page
|
||
PART
I
|
||
FINANCIAL
INFORMATION
|
2
|
|
Item
1.
|
Financial
Statements
|
2
|
Item
2.
|
Management’s
Discussion and Analysis of Financial Condition and Results of
Operations
|
23
|
Item
3.
|
Quantitative
and Qualitative Disclosures About Market Risk
|
31
|
Item
4T.
|
Controls
and Procedures
|
32
|
PART
II
|
||
OTHER
INFORMATION
|
34
|
|
Item
1.
|
Legal
Proceedings
|
34
|
Item
1A.
|
Risk
Factors
|
34
|
Item
2.
|
Unregistered
Sales of Equity Securities and Use of Proceeds
|
34
|
Item
3.
|
Defaults
Upon Senior Securities
|
34
|
Item
4.
|
Removed
and Reserved
|
34
|
Item
5.
|
Other
Information
|
34
|
Item
6.
|
Exhibits
|
34
|
SIGNATURES
|
35
|
|
EXHIBIT
INDEX
|
36
|
June 30,
|
December 31,
|
|||||||
2010
|
2009
|
|||||||
(Unaudited)
|
(Audited)
|
|||||||
ASSETS
|
||||||||
Current
assets
|
||||||||
Cash
and cash equivalents
|
$ | 13,426,813 | $ | 1,539,009 | ||||
Accounts
receivable, net
|
2,209,445 | 2,515,403 | ||||||
Other
receivables, net
|
1,365,753 | 1,307,474 | ||||||
Inventories
|
17,051,730 | 13,302,530 | ||||||
Advances
to suppliers
|
10,859,388 | 7,691,266 | ||||||
Related
party receivable
|
- | 122,667 | ||||||
Deferred
expense
|
- | 150,943 | ||||||
Deferred
tax assets
|
113,216 | 112,743 | ||||||
Total
current assets
|
45,026,345 | 26,742,035 | ||||||
Property,
plant and equipment, net
|
11,973,600 | 10,441,246 | ||||||
Construction
in progress
|
456,544 | 632,202 | ||||||
Intangible
assets, net
|
2,778,511 | 2,691,974 | ||||||
Goodwill
|
1,122,619 | 1,117,923 | ||||||
Total
assets
|
$ | 61,357,619 | $ | 41,625,380 | ||||
LIABILITIES
AND EQUITY
|
||||||||
Current
liabilities
|
||||||||
Accounts
payable
|
$ | 179,992 | $ | 565,802 | ||||
Short-term
loan
|
5,140,558 | 10,238,109 | ||||||
Taxes
payable
|
9,828,743 | 11,001,715 | ||||||
Advances
from customers
|
2,116,712 | 456,715 | ||||||
Dividends
payable
|
232,835 | 231,861 | ||||||
Other
payable
|
159,911 | 287,914 | ||||||
Total
current liabilities
|
17,658,751 | 22,782,116 | ||||||
Total
liabilities
|
17,658,751 | 22,782,116 | ||||||
Commitments
and contingencies
|
||||||||
Equity
|
||||||||
Stockholder’s
equity of the Company
|
||||||||
Common
stock: par value $.001; 50,000,000 shares
|
||||||||
authorized;
9,610,159 and 6,000,000 shares issued
|
||||||||
and
outstanding at June 30, 2010 and December 31,
|
||||||||
2009
respectively
|
9,610 | 6,000 | ||||||
Additional
paid-in capital.
|
29,533,555 | 9,533,619 | ||||||
Other
comprehensive income
|
634,239 | 488,640 | ||||||
Retained
earnings
|
11,591,168 | 7,543,994 | ||||||
Total
stockholders' equity of the Company
|
41,768,572 | 17,572,253 | ||||||
Noncontrolling
interest
|
1,930,296 | 1,271,011 | ||||||
Total
equity
|
43,698,868 | 18,843,264 | ||||||
Total
liabilities and equity
|
$ | 61,357,619 | $ | 41,625,380 |
Three months ended June 30,
|
Six months ended June 30,
|
|||||||||||||||
2010
|
2009
|
2010
|
2009
|
|||||||||||||
(Unaudited)
|
(Unaudited)
|
(Unaudited)
|
(Unaudited)
|
|||||||||||||
Revenues
|
$ | 44,053,481 | $ | 27,843,394 | $ | 73,834,571 | $ | 53,080,312 | ||||||||
Cost
of revenues
|
38,781,366 | 24,435,690 | 64,982,061 | 46,671,231 | ||||||||||||
Gross
profit
|
5,272,115 | 3,407,704 | 8,852,510 | 6,409,081 | ||||||||||||
Operating
expenses
|
||||||||||||||||
Selling
expenses
|
736,327 | 436,150 | 1,473,878 | 1,255,722 | ||||||||||||
General
and administrative expenses
|
676,750 | 611,243 | 1,301,045 | 807,670 | ||||||||||||
Total
operating expenses
|
1,413,077 | 1,047,393 | 2,774,923 | 2,063,392 | ||||||||||||
Income
from operations
|
3,859,038 | 2,360,311 | 6,077,587 | 4,345,689 | ||||||||||||
Other
income (expense)
|
||||||||||||||||
Interest
income
|
- | (24,560 | ) | - | - | |||||||||||
Interest
expense
|
(131,615 | ) | (65,667 | ) | (252,079 | ) | (65,667 | ) | ||||||||
Other
expense
|
2,029 | (1,593 | ) | 1,857 | (1,593 | ) | ||||||||||
Total
other income (expense)
|
(129,586 | ) | (91,820 | ) | (250,222 | ) | (67,260 | ) | ||||||||
Net
income before tax provision
|
3,729,452 | 2,268,491 | 5,827,365 | 4,278,429 | ||||||||||||
Tax
provision
|
1,047,664 | 467,562 | 1,614,400 | 974,402 | ||||||||||||
Net
income
|
2,681,788 | 1,800,929 | 4,212,965 | 3,304,027 | ||||||||||||
Net
income attributable to the noncontrolling interest
|
24,799 | 61,022 | 165,791 | 114,003 | ||||||||||||
Net
income attributable to the Company
|
$ | 2,656,989 | $ | 1,739,907 | $ | 4,047,174 | $ | 3,190,024 | ||||||||
Foreign
currency translation adjustment
|
166,015 | 363 | 145,599 | 14,542 | ||||||||||||
Comprehensive
income attributable to the Company
|
2,823,004 | 1,740,270 | 4,192,773 | 3,204,566 | ||||||||||||
Comprehensive
income attributable to the noncontrolling interest
|
24,799 | 61,022 | 165,791 | 114,003 | ||||||||||||
Comprehensive
income
|
$ | 2,847,803 | $ | 1,801,292 | $ | 4,358,564 | $ | 3,318,569 | ||||||||
Basic
and diluted weighted average shares outstanding
|
9,606,313 | 6,000,000 | 9,014,261 | 6,000,000 | ||||||||||||
Basic
and diluted net earnings per share
|
$ | 0.28 | $ | 0.29 | $ | 0.45 | $ | 0.53 |
Six months ended June 30,
|
||||||||
2010
|
2009
|
|||||||
(Unaudited)
|
(Unaudited)
|
|||||||
Cash
flows from operating activities:
|
||||||||
Net
income attributable to the Company
|
$ | 4,047,174 | $ | 3,190,024 | ||||
Adjustments
to reconcile net income to net cash
|
||||||||
provided
by operating activities:
|
||||||||
Noncontrolling
interest
|
165,791 | 114,003 | ||||||
Option
issued for services
|
63,938 | - | ||||||
Depreciation
|
253,187 | 92,038 | ||||||
Amortization
|
23,119 | 34,735 | ||||||
Changes
in operating assets and liabilities:
|
||||||||
Accounts
receivable
|
305,806 | (764,788 | ) | |||||
Inventories
|
(3,749,200 | ) | (3,190,129 | ) | ||||
Other
receivables
|
(109,917 | ) | 1,187,582 | |||||
Advances
to suppliers
|
(3,168,122 | ) | (882,440 | ) | ||||
Prepaid
expense
|
150,943 | (13,411 | ) | |||||
Accounts
payable
|
(385,810 | ) | 481,323 | |||||
Advances
from customers
|
1,659,997 | 275,906 | ||||||
Taxes
payable
|
(1,173,445 | ) | 609,841 | |||||
Other
payable
|
(195,403 | ) | 913,754 | |||||
Net
cash provided by (used in) operating activities
|
(2,111,942 | ) | 2,048,438 | |||||
Cash
flows from investing activities
|
||||||||
Consideration
for acquisition
|
(534,618 | ) | (2,209,483 | ) | ||||
Certificate
of deposit
|
- | 1,519,750 | ||||||
Purchase
of property and equipment
|
(132,708 | ) | (3,266 | ) | ||||
Construction
contracts
|
(491,319 | ) | (4,898,381 | ) | ||||
Payment
received from related party
|
122,667 | 4,357,376 | ||||||
Net
cash used in investing activities
|
(1,035,978 | ) | (1,234,004 | ) | ||||
Cash
flows from financing activities
|
||||||||
Proceeds
from shareholders
|
19,989,504 | - | ||||||
Repayment
of short term loans
|
(5,097,551 | ) | (876,779 | ) | ||||
Net
cash provided by (used in) financing activities
|
14,891,953 | (876,779 | ) | |||||
Effect
of exchange rate on cash
|
143,771 | 6,775 | ||||||
Net
increase in cash and cash equivalents
|
11,887,804 | (55,570 | ) | |||||
Cash
and cash equivalents, beginning of period
|
$ | 1,539,009 | $ | 4,923,913 | ||||
Cash
and cash equivalents, end of period
|
$ | 13,426,813 | $ | 4,868,343 | ||||
Supplemental
cash flow information:
|
||||||||
Cash
paid during the period for:
|
||||||||
Interest
|
$ | 260,518 | $ | 176,259 | ||||
Income
taxes
|
$ | 1,276,549 | $ | 653,682 |
|
•
|
for the period from October 28,
2008 to March 26, 2009, the assets, liabilities, results of operations and
cash flows of Goodwill Rich and its subsidiary (adjusted for the effects
of the August, 2009 recapitalization with Andatee) combined with those of
Xingyuan and its subsidiaries;
and
|
|
•
|
for the period from March 26,
2009 to June 30, 2010, the assets, liabilities, results of operations and
cash flows of Goodwill Rich and its subsidiary (adjusted for the effects
of the August, 2009 recapitalization with Andatee) consolidated with those
of its VIE, Xingyuan, and its
subsidiaries.
|
Items
|
Useful Life
|
|
Property
and buildings
|
40 years
|
|
Marine
bunker
|
15 years
|
|
Boiler
equipment
|
12 years
|
|
Laboratory
equipment
|
8 years
|
|
Transportation
vehicles
|
8 years
|
|
Office
equipment
|
4 years
|
|
Electronic
equipment
|
3 years
|
Location
|
Land Size
|
Amount
|
Terms
|
||||||
|
(square
meter)
|
||||||||
Nanhui
Village, Shipu Town, Zhejiang Province
|
8,906.90
|
$
|
2,207,502
|
April
1, 2004 – May 12, 2047
|
|||||
Development
Zone, Donggang, Liaoning Province
|
21,994.80
|
$
|
567,755
|
July
16, 2008 – May 15, 2058
|
|||||
Mashan
Village, Chengshan Town, Shandong Province
|
3,659.57
|
$
|
109,656
|
Government
assignment
|
Mashan
|
||||
Property
and equipment
|
$ | 1,095,512 | ||
Payables
|
(67,400 | ) | ||
Noncontrolling
interests
|
(493,494 | ) | ||
Net
Assets Acquired
|
$ | 534,618 | ||
Cash
Paid
|
$ | 534,618 |
As of
|
||||||||
June 30,
|
December 31,
|
|||||||
2010
|
2009
|
|||||||
|
||||||||
Trade
accounts receivables
|
$
|
2,245,836
|
$
|
2,551,642
|
||||
Allowances
for doubtful accounts
|
(36,391
|
)
|
(36,239
|
)
|
||||
Accounts
receivables, net
|
$
|
2,209,445
|
$
|
2,515,403
|
As of
|
||||||||
June 30,
|
December 31,
|
|||||||
2010
|
2009
|
|||||||
|
||||||||
Other
receivables
|
$
|
1,782,227
|
$
|
1,722,206
|
||||
Allowances
for doubtful accounts
|
(416,474
|
)
|
(414,732
|
)
|
||||
Other
receivables
|
$
|
1,365,753
|
$
|
1,307,474
|
|
As of
|
|||||||
June 30,
|
December 31,
|
|||||||
2010
|
2009
|
|||||||
Marin
Fuel
|
$
|
17,019,953
|
$
|
13,298,794
|
||||
Other
consumables
|
31,778
|
3,736
|
||||||
Total
|
$
|
17,051,730
|
$
|
13,302,530
|
As of
|
||||||||
June 30,
|
December 31,
|
|||||||
2010
|
2009
|
|||||||
|
||||||||
Property
and buildings
|
$
|
12,005,098
|
$
|
10,226,544
|
||||
Laboratory
equipment
|
337,825
|
336,412
|
||||||
Boiler
equipment
|
228,713
|
227,756
|
||||||
Marine
bunker
|
207,427
|
206,559
|
||||||
Transportation
vehicles
|
531,610
|
529,386
|
||||||
Office
equipment
|
35,038
|
34,891
|
||||||
Electronic
equipment
|
51,273
|
49,895
|
||||||
Total
|
13,396,984
|
11,611,443
|
||||||
Less:
Accumulated depreciation
|
(1,423,384
|
)
|
(1,170,197
|
)
|
||||
Net
Value
|
$
|
11,973,600
|
$
|
10,441,246
|
As of
|
||||||||
June 30,
|
December 31,
|
|||||||
2010
|
2009
|
|||||||
|
||||||||
Construction
in progress, cost
|
$
|
456,544
|
$
|
632,202
|
||||
Total
|
$
|
456,544
|
$
|
632,202
|
As of
|
||||||||
June 30,
|
December 31,
|
|||||||
2010
|
2009
|
|||||||
|
||||||||
Berth
and berth improvement
|
$
|
172,043
|
$
|
437,109
|
||||
Oil
blending and storage tank
|
284,501
|
195,093
|
||||||
Total
|
$
|
456,544
|
$
|
632,202
|
As of
|
||||||||
June 30,
|
December 31,
|
|||||||
2010
|
2009
|
|||||||
|
||||||||
Land
use rights
|
$
|
2,884,913
|
$
|
2,763,649
|
||||
Software
|
4,406
|
4,388
|
||||||
Total
|
2,889,319
|
2,768,037
|
||||||
Less:
accumulated amortizations
|
(110,808
|
)
|
(76,063
|
)
|
||||
Intangible
assets, net
|
$
|
2,778,511
|
$
|
2,691,974
|
As of
|
||||||||
June 30,
|
December 31,
|
|||||||
2010
|
2009
|
|||||||
|
||||||||
Amount
due from An Fengbin
|
-
|
122,667
|
||||||
Total
|
$
|
-
|
$
|
122,667
|
Interest
Rate
|
|||||||||||||
(Per Annum)
|
06-30-10
|
12-31-09
|
Terms
|
||||||||||
SD
Bank
|
5.84
|
%
|
$
|
-
|
$
|
1,462,587
|
December
9, 2009 – June 9, 2010
|
||||||
SD
Bank
|
4.86
|
%
|
-
|
1,901,363
|
December
11, 2009 – June 11, 2010
|
||||||||
SD
Bank
|
4.86
|
%
|
-
|
1,755,104
|
December
15, 2009 – June 15, 2010
|
||||||||
SPD
Bank
|
5.31
|
%
|
2,203,096
|
2,193,881
|
November
30, 2009 – July 27, 2010
|
||||||||
SPD
Bank
|
5.84
|
%
|
1,028,112
|
1,023,811
|
August
27, 2009 – July 27, 2010
|
||||||||
Baotou
Commerce Bank
|
5.84
|
%
|
1,909,350
|
1,901,363
|
July
22, 2009 – July 22, 2010
|
||||||||
Total
|
$
|
5,140,558
|
$
|
10,238,109
|
Expected Life
|
Expected
Volatility
|
Dividend Yield
|
Risk Free
Interest Rate
|
Grant Date Fair
Value
|
||||||||||||
3
Years
|
86.91
|
%
|
0
|
%
|
1.40
|
%
|
$
|
3.10
|
Number of
Options
Outstanding
|
Weighted
Average
Exercise Price
|
|||||||
Balance
at December 31, 2009
|
-
|
$
|
-
|
|||||
Granted
|
13,125
|
$
|
6.30
|
|||||
Forfeited
|
-
|
$
|
-
|
|||||
Exercised
|
-
|
$
|
-
|
|||||
Balance
at June 30, 2010
|
13,125
|
$
|
6.30
|
June
30, 2010
|
December
31, 2009
|
|||||||
Income
Tax Payable
|
$ |
3,534,614
|
$ |
3,248,283
|
||||
VAT
Payable
|
6,157,101
|
7,504,252
|
||||||
Other
Tax Payable
|
137,028
|
249,180
|
||||||
Total
|
$ |
9,828,743
|
$ |
11,001,715
|
For
the year 2010
|
234,552 | |||
For
the year 2011
|
496,753 | |||
For
the year 2012
|
— | |||
For
the year 2013
|
— | |||
Thereafter
|
— | |||
Total
|
$ | 731,305 |
As of
|
||||||||
June
30,
|
December 31,
|
|||||||
2010
|
2009
|
|||||||
|
||||||||
ASSETS
|
|
|
||||||
Noncurrent
assets
|
|
|
||||||
Investment
in subsidiaries
|
41,768,572 | 17,572,253 | ||||||
Total
noncurrent assets
|
41,768,572 | 17,572,253 | ||||||
Total
assets
|
$ | 41,768,572 | $ | 17,572,253 | ||||
LIABILITIES
AND STOCKHOLDERS' EQUITY
|
||||||||
Commitments
and contingencies
|
— | — | ||||||
Stockholders'
equity
|
||||||||
Common
stock; par value $0.001; 50,000,000 shares authorized; 9,605,159 and
6,000,000 shares issued and outstanding as of March 31, 2010 and December
31, 2009 respectively
|
9,610 | 6,000 | ||||||
Additional
paid in capital
|
29,533,555 | 9,533,619 | ||||||
Retained
earnings (Deficit)
|
11,591,168 | 7,543,994 | ||||||
Other
comprehensive income
|
634,239 | 488,640 | ||||||
Total
stockholders’ equity
|
41,768,572 | 17,572,253 | ||||||
Total
liabilities and stockholders' equity
|
$ | 41,768,572 | $ | 17,572,253 |
As of
|
||||||||
June 30,
|
June 30,
|
|||||||
2010
|
2009
|
|||||||
|
||||||||
Operating
income
|
||||||||
Equity
in profit of subsidiaries & VIE
|
4,047,174
|
3,190,024
|
||||||
Net
income attributable to the Company
|
4,047,174
|
3,190,024
|
As of
|
||||||||
June 30,
|
June 30,
|
|||||||
2010
|
2009
|
|||||||
Cash
flows from operating activities:
|
||||||||
Net
income
|
$
|
4,047,174
|
$
|
3,190,024
|
||||
Adjustments
to reconcile net income to net cash provided by operating
activities:
|
||||||||
Equity
in profit of subsidiaries & VIE
|
(4,047,174
|
)
|
(3,190,024
|
)
|
||||
Net
cash provided by operating activities
|
—
|
—
|
||||||
Net
change in cash and cash equivalents
|
—
|
—
|
||||||
Cash
and cash equivalents, beginning of period
|
—
|
—
|
||||||
Cash
and cash equivalents, end of period
|
$
|
—
|
$
|
—
|
|
·
|
the
terms “we,” “us,” “our company,” “our” refer to Andatee China Marine Fuel
Services Corporation, a Delaware corporation, its subsidiaries Goodwill
Rich International Limited and Dalian Fusheng Consulting Co. Ltd., its
variable interest entity (VIE), Dalian Xingyuan Marine Bunker Co. Ltd.,
through which entity we conduct all of our business operations, and the
subsidiaries of our VIE entity, which are Donggang Xingyuan Marine Bunker
Company Ltd., Xiangshan Yongshinanlian Petrol Company Ltd., Rongcheng
Mashan Marine Bunker Company and Rongcheng Xinfa Petrol Company
Ltd.;
|
|
·
|
the
term “Andatee” refers to Andatee China Marine Fuel Services Corporation,
the parent company;
|
|
·
|
the
term Goodwill’’ refers to Goodwill Rich International Limited, a
subsidiary of Andatee, which for financial reporting purposes is the
predecessor to Andatee; and
|
|
·
|
“China”
and “PRC” refer to the People’s Republic of China, and for the purpose of
this Annual Report only, excluding Taiwan, Hong Kong and
Macau.
|
•
|
Increasing
demand for blended marine fuel - The increasing
demand for blended marine fuel has a positive impact on our financial
position. The strong growth in the blended marine fuel industry since 2002
has been driven by several factors, including, among others, steady
population growth in the PRC, improvements in the living standards,
national energy conservation
efforts.
|
•
|
Expansion
of our sources of supply, production capacity and sales
network - To meet the
increasing demand for our products, we need to expand our sources of
supply and production capacity. We plan to make capital improvements in
our existing production facilities, which would improve both their
efficiency and capacity. In the short-run, we intend to increase our
investment in our reliable supply network, personnel training, information
technology applications and logistic system
upgrades.
|
•
|
Fluctuations
in Crude Oil Price - We use oil refinery
by-products as raw materials for our production. The recent increase in
oil prices had a direct impact on the price we pay for these products.
However, we mitigated this in the short-term by increasing the price of
our products and passing the entirety of the increase to our
customers.
|
As of June 30,
|
||||||||
|
2010
|
2009
|
||||||
Cash
flow data:
|
|
|
|
|
|
|||
Net
cash provided by (used in) operating activities
|
$ |
(2,111,942
|
)
|
$ |
2,048,438
|
|||
Net
cash used in investing activities
|
(1,035,978
|
)
|
(1,234,004
|
)
|
||||
Net
cash provided by (used in) financing activities
|
14,891,953
|
(876,779
|
)
|
|||||
Effect
of exchange rate on cash
|
143,771
|
6,775
|
||||||
Net
changes in cash
|
11,887,804
|
(55,570
|
) | |||||
Cash
at beginning of period
|
1,539,009
|
4,923,913
|
||||||
Cash
at end of period
|
$ |
13,426,813
|
$ |
4,868,343
|
Renminbi per U.S. Dollar Noon Buying Rate
|
||||||||||||||||
Average(1)
|
High
|
Low
|
Period-End
|
|||||||||||||
Year
ended December 31,
|
||||||||||||||||
2004(1)
|
8.2768
|
8.2774
|
8.2764
|
8.2765
|
||||||||||||
2005(1)
|
8.1826
|
8.2765
|
8.0702
|
8.0702
|
||||||||||||
2006(1)
|
7.9579
|
8.0702
|
7.8041
|
7.8041
|
||||||||||||
2007(1)
|
7.5806
|
7.8127
|
7.2946
|
7.2946
|
||||||||||||
2008(1)
|
6.9193
|
7.2946
|
6.7800
|
6.8225
|
||||||||||||
2009(1)(2)
|
6.8408
|
6.8430
|
6.7880
|
6.8372
|
||||||||||||
For
the months of
|
||||||||||||||||
January
2010
|
6.8346
|
6.8295
|
6.7836
|
6.8369
|
||||||||||||
February
2010
|
6.8376
|
6.8336
|
6.7941
|
6.8367
|
||||||||||||
March
2010
|
6.8359
|
6.8268
|
6.8136
|
6.8361
|
||||||||||||
April
2010
|
6.8328
|
6.8280
|
6.7471
|
6.8358
|
||||||||||||
May
2010
|
6.8365
|
6.8315
|
6.8000
|
6.8315
|
||||||||||||
June
2010
|
6.8309
|
6.8233
|
6.7616
|
6.8086
|
||||||||||||
July
2010
|
6.7861
|
6.7813
|
6.7595
|
6.789
|
||||||||||||
August
2010(2)
|
6.7827
|
6.7745
|
6.7547
|
6.7852
|
Andatee
China Marine Fuel Services Corporaiton
|
||
Date:
August 12, 2010
|
By:
|
/s/ An Fengbin
|
An
Fengbin President, Chief Executive Officer
|
||
(Principal
Executive Officer)
|
||
Date:
August 12, 2010
|
By:
|
/s/ Wen Tong
|
Wen
Tong, Chief Financial Officer
|
||
(Princial
Financial
Officer)
|
Number
|
Exhibit
Table
|
|
3.1(i)
|
Certificate
of Incorporation(1).
|
|
3.1.1(i)
|
Amendment
to the Certificate of Incorporation(1).
|
|
3.1(ii)
|
By-Laws(1).
|
|
31.1
|
Certification
of Chief Executive Officer pursuant to Section 302 of the SOX of
2002.
|
|
31.2
|
Certification
of Chief Financial Officer pursuant to Section 302 of the SOX of
2002.
|
|
32.1
|
Certificate
of Chief Executive Officer pursuant to 18
U.S.C.ss.1350.
|
|
32.2
|
Certificate
of Chief Financial Officer pursuant to 18
U.S.C.ss.1350.
|