Free Flow, Inc.
Notes to Condensed Consolidated Financial Statements
March 31,September 30, 2021
(Unaudited)
NOTE 1 – BASIS OF PRESENTATION
The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial statements and with the instructions to Form 10-Q and Article 10 of Regulation S-X of the United States Securities and Exchange Commission (“SEC”). Accordingly, they do not contain all information and footnotes required by accounting principles generally accepted in the United States of America for annual financial statements. In the opinion of the Company’s management, the accompanying unaudited consolidated financial statements contain all the adjustments necessary (consisting only of normal recurring accruals) to present the financial position of the Company as of March 31,September 30, 2021 and the results of operations and cash flows for the periods presented. The results of operations for the threenine months ended March 31.September 30, 2021 are not necessarily indicative of the operating results for the full fiscal year or any future period. These unaudited consolidated financial statements should be read in conjunction with the financial statements and related notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 filed with the SEC on April 8,08, 2021.
NOTE 2 GOING CONCERN
The Company’s financial statements are prepared using generally accepted accounting principles in the United States of America applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has established itself as a stable ongoing business entity with established revenues and / or sufficient reserves to cover its operating costs and allow it to continue as a going concern. However, the ability of the Company to continue as a going concern is also dependent on the Company obtaining adequate Sales so that the Company can liquidate its inventories and continue as a going business.
In order to continue as a going concern, the Company will need, among other things, Sales of its product lines. Management has obtained such sales through Internet sales and marketing companies who specialize in promotion of such businesses. Management has obtained working capital line of credit from its commercial lines of credits and significant shareholders sufficientbank to meet its minimal operating expense and is continuing to expand itsexpecting that cash flow from sales and is ablewill soon be available to augment the operating capital needs. However, management cannot provide an assurance that the Company will be successful in accomplishing any of its plans as, in most of the businesses, market circumstances could change. The impact of COVID19 has been quite significant due to less automobiles being on the road thereby reducing the rate of wear and tear which otherwise necessitates replacement of automobile parts.plans.
The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraph and eventually reaching is targeted sales level.fulfill the purchase orders to attain profitable operations. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.
NOTE 3 – INCORPORATION OF SUBSIDIARY
In February 2015, the company incorporated a subsidiary, Promedaff, Inc. and purchased a skin care product line and formulations for $2,000,000 against a promissory note. An e commerce platform was set up for sales and marketing. The efforts did not bear any success and the entire inventory was sold through the Seller and the Promissory Note was cancelled and marked “VOID”. The name of this entity has beenwas changed to Motors & Metals, Inc. In August 2018 Motors & Metals, Inc.and had remained inactive but was in good standing, until it received firm expressiona letter of interestintent from an overseas buyer willing to placeenter a long term contract to purchase orders to buy 3,000 to 5,000 MT of Processed Scrap Metal. For over eight (8) months, the management scouted around to find a seller but learnt that noshredded steal derived from automobile other scrap metal processor was willing to entertain the business due to their loyalty agreements they have with their Buyer(s). Ultimately, the management decided to set up its own Scrap Metal Processing facility at the company owned 20 acre facility in King George, Virginia
After getting the Zoning re-validated, the application was approved by the State of Virginia in early 2020.metals. Thus Motors & Metals, Inc. has a valid licenseembarked upon substituting its automobile crushing and shredding business to operate as a Recycling Facility – Scrap Metal Processor. Concurrently, the management began preparationonly shredding of feasibility studyautomobiles and concludeother metals to purchase the machinery andrecover ferrous metals.
Proposals form renowned manufacturers of auto shredding equipment from the Chinese manufacturer who has a presence in the USA. A Sales Order/Proforma Invoice hashave been received but doand are being evaluated to determine the most suitable and competitive supplier. The initial plan is laid out to have an embargo by the Chinese Government notoutput of 3,000 to finance any such trade for USA, the proposal is moving slow which alternate financing arrangements are still being sought.5,000 tons of shredded steel per month.
The Management is also in discussion with a USA manufacturer to facilitate financing even though the prices are higher than the Chinese.
The cost of the project is estimated at $7,000,000 with an EBITDA of 20% p.a.
As was reported in 10Qs for the earlier quarters as well as in 10-K10Ks for the Annual reports, on February 4, 2016 the company incorporated another subsidiary in the State of Virginia under the name of JK Sales, Corp. (on December 7, 2017 the name was changed to Accurate Auto Parts, Inc.,) and has since remained in the business of buying end of life and salvage vehicles and selling auto parts.
On April 17, 2018 the company incorporated in Virginia, another subsidiary named Accurate Investments, Inc. with the objectives of acquiring real estate property, which plan did not materialize. However, Accurate Investments, Inc. continues to pursue other investment opportunities that could add revenues to the Company.and has remained dormant until any business is transacted.
On January 4, 2017 the company incorporated in Virginia anothera subsidiary named City Autos, Corp. withwas incorporated in the objectivesCommonwealth of operatingVirginia which remained dormant until July 21, 2020 whereby a business license has been obtained and City Auto is preparing to start business of auto “Lease – Rent To Own”. The premises were already zoned for use as an autoAuto Dealership, and there existed a used car deanship operated by the former owners. City Autos is preparing to obtain a dealership butlicense from the entity remained inactive dueState and expects to lack of qualified personnel. The company has entered in to an arrangementstart with a qualified person and has made an application50 cars fleet to the DMV, State of Virginia for a dealer’s license. Bond was obtained and submittedLease – Rent to the DMV.own.
On December 22, 2020 the company throughpurchased business and assets from Inside Auto Parts, Inc. and auto recycling facility against a promissory note for approximately $940,000. The assets and business was purchased by another wholly owned subsidiary namedwhich was incorporated in September , 2019 and remained dormant until November 2020 when the name was changed to FFLO – Inside Auto Parts, Inc. acquiredto facilitate the assetspurchase of business and businessassets. The license from the State has been transferred to FFLO – Inside Auto Parts, Inc. With the acquisition the sales of an auto recycling entity located on a 16 acre facility in Mineral, Virginia.the company has doubled.
NOTE 4 – RELATED PARTY
As of December 31, 2019, the Company had a note payable in the amount of $10,343 to Redfield Holdings, Ltd. a related party. During the nine months ended the Company reduced the borrowing by $225debited an additional $25 thus owing a total sum of $10,118$10,318 as of September 30, 2020. The note is unsecured and does not bear any interest and has a maturity date of December 30, 2020.
Redfield Holdings Ltd. is 100% owned by the CEO, Mr. Sabir Saleem. St. Gabriel Foundation has also been incorporated by Mr. Sabir Saleem as a not-for-profit entity which has not yet constituted its functional board of directors/trustees. It is expected that St. Gabriel Foundation will soon define its mission and may become an arm to mobilize end of life automobiles to sell them to Accurate Auto Parts, Inc. and use the proceeds for charitable purposes.2021.
NOTE 5 – CAPITAL STOCK
The Company has authorized 100,000,000 shares of common shares with a par value of $0.0001 per shares and 20,000,000 shares of preferred stock, with a par value of $0.0001 per shares.
On August 5, 2020 the company filed the following Amendment to the Capital Stock:
The amount of the total Common Stock of the corporation is Hundred Million (100,000,000) shares of Common Stock, par value ($.0001) per shares.
The total amount of Preferred Stock of the corporation is Twenty Million (20,000,000) shares, par value ($.0001) per share. The preferences being that there will be various series of Preferred Share, such preferences are more specifically defined as under along with the number of shares allocated to each series:
Series “A”: Number of shares allocated are Ten Thousand (10,000) – par value $.0001 per share; one share of this class of Preferred Stock Series “A” will carry voting rights equal to Ten Thousand (10,000) shares of Common Shares; thus the voting rights attributed to all of these 10,000 shares would be equal to One Hundred Million common shares.
Series “B”: Number of shares allocated are Five Hundred Thousand (500,000) – par value $.0001 per share; one share of this class of Preferred Stock Series “B” will carry voting rights equal to one share of Common Shares; and are redeemable with 365 days’ notice.
Series “C”: Number of shares allocated are Five Hundred Thousand (500,000) – par value $.0001 per share; one share of this class of Preferred Stock Series “C” will carry voting rights equal to one share of Common Shares and could be used to assign corresponding capital in to any subsidiary of Free Flow, Inc. with a view to extend comfort to any lender. Such shares are redeemable upon such lender authorizing the redemption of capital in the respective subsidiary company.
Series “D”: Number of shares allocated are Fifteen Million (15,000,000) – par value $.0001 per share; one share of this class of Preferred Stock Series “D” will carry voting rights equal to one share of Common Shares This series of shares could be issued against subscription of any amount as the board of directors and/or majority of the shareholders approve. Series “D” shares could be converted in to common shares as approved by the majority shareholders.
Series “E”: Number of shares allocated are Three Million Nine Hundred Ninety Thousand (3,990,000) – par value $.0001 per share; one share of this class of Preferred Stock Series “E” will carry voting rights equal to one share of Common Shares This series of shares could be issued against subscription in cash or kind including but not limited to subscription directly into capital account of any subsidiary for any amount as the board of directors and/or majority of the shareholders approve. Series “E” shareholders could be entitled to a specifically defined profit sharing in a specific project or transaction(s). Series E shares could be redeemable and/or converted in to common shares as agreed between the subscriber(s) and approved by the majority shareholders and/or by the Board of Directors of the Company.
The amendment effected herein was authorized by the affirmative vote of the holders of a majority of the outstanding shares entitled to vote thereon at a meeting of the shareholders pursuant to Section 242 of the General Corporation Law of the State of Delaware
Pursuant to the resolution of the shareholders meeting held on March 30, 2015 the Company designated 500,000 shares of the preferred authorized shares as preferred shares – Series “B” shares. The preferred shares – Series “B” were assigned the following preferences:
a)Each share to carry one vote.
b)Each share will be redeemable with a 365 days written notice to the company.
c)Each share will be junior to any debt incurred by the Company.
d)The redemption value will be the par value at which such “preferred shares – series B” are bought by the subscriber.
e)Each share will carry a dividend right at par with the common shares.
On December 31, 2014 the Company had a Note outstanding in the principal amount of $330,000 plus interest payable to GS Pharmaceuticals, Inc. By mutual consent this note and accrued interest was converted to 330,000 preferred shares – Series “B”.
On March 31, 2015 an amount of $58,000 was subscribed by Redfield Holdings, Ltd. by cancellation of a Note against the issuance of 9,700 shares of preferred shares – Series “A”. These shares were issued to Redfield Holding, Ltd. thus making a total of entire designated preferred shares – Series “A” shares to Redfield Holdings, Ltd. Each share of preferred shares – Series “A” carries voting right equal to 10,000 common shares.
On SeptemberJune 30, 2017 total preferred shares issued and outstanding are 10,000 Series “A” and 330,000 Series “B”.
January 1, 2019, by consent of the related party note holder i.e., by Redfield Holdings, Ltd. the debt for a sum of $470,935 was converted to Preferred Shares Series “C” to be described as Mezzanine Equity in its subsidiary, namely Accurate Auto Parts, Inc. The total number of shares classified as Preferred Shares Series “C” are 500,000.
On April 2, 2019, in a private transaction the Company accepted a sum of $14,490.00$14,490 against issuance of 21,000 restricted Common shares of the Company. Thus the total common shares issued and outstanding as on September 30, 20192021 stood at 26,221,000
On August 17, 2020 the Company completed its Private Placement Memorandum to raise $19.5 million with no minimum, against issuance of 15,000,000 Series “D” shares at a price of $1.30 per share. The memorandum can be accessed on Company’s website, i.e., www.FreeFlowPLC.com26,221,000.
NOTE 6 – SUBSEQUENT EVENTS
None that is reportable.
None.
ITEM 2. MANAGEMENT’S DISCUSSION AND ALALYIS OR PLAN OF OPERATION
THE FOLLOWING DISCUSSION SHOULD BE READ IN CONJUNCTION WITH OUR UNAUDITED FINANCIAL STATEMENTS ANDSTATEMENT SAND NOTES THERETO INCLUDED HEREIN. IN CONNECTION WITH, AND BECAUSE WE DESIRE TO TAKE ADVANTAGE OF, THE “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995, WE CAUTION READERS REGARDING CERTAIN FORWARD LOOKING STATEMENTS IN THE FLOWING DISCUSSION AND ELSEWHERE IN THE THIS REPORT AND IN ANY OTHER STATEMENT MADE BY, OR AN BEHALF, WHETHER OR NOT IN FUTURE FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION, FORWARD-LOOKING STATEMENTS ARE STATEMENT NOT BASED ON HISTORICAL INFORMATION AND WHICH RELATE TO FUTURE OPERATIONS, STRATEGIES, FINANCIAL RESULTS OR OTHER DEVELOPMENTS. FORWARD-LOOKING STATEMENTS ARE NECESSARILY BASED UPON ESTIMATES AND ASSUMPTIONS THAT ARE INHERENTLY SUBJECT TO SIGNIFICANT BUSINESS, ECONOMIC AND COMPETITIVE UNCERTAINTIES, MANY OF WHICH ARE BEYOND OUR CONTROL AND MANY OF WHICH, WITH RESPECT TO FUTURE BUSINESS DECISIONS, ARE SUBJECT TO CHANGE, THESE UNCERTAINTIES AND CONTINGENCIES CAN AFFECT ACTUAL RESULTS AND COULD CAUSE ACTUAL RESULTS TO
DIFFER MATERIALLY FORM THOSE EXPRESSED IN ANY FORWARD-LOOKING STATEMENTS AND COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE EXPRESSED IN ANY FORWARD LOOKING STATEMENTS MADE BY, OR ON OUR BEHALF, WE DIS TO UPDATE FORWARD-LOOKING STATEMENTS.
PLAN OF OPERATION
The Company through its
N.B. Market conditions may change, which my adversely affect the future results.
Free Flow Inc. the Company’s used auto parts subsidiaries namely, Accurate Auto Parts, Inc. and FFLO – Inside Auto Parts, Inc. has made a sale of $216,440$616,806 of Automobile Parts and Services. The Company continues seeking additional sales both in the domestic and international markets.
In May 2020 the company hired a marketing manager as independent contractor to develop marketing strategy and thus improve sales. Thus far, the ground work was completed and a data was complied, the plan could not take off due to the Covid19 Pandemic. The Company is working again to effectuate this plan.
Regarding scrap metal processing: Motors & Metals, Inc., the subsidiary which is licensed to operate as scrap metal processor completed its scope of equipment and machinery and thereafter, on July 4, 2020 the company received a firm quotation from an equipment manufacturer. The cost of the project is estimated at $9,000,000 with a projected EBITDA of about 20% on an estimated annual revenue of $10,000,000. Financing arrangements are currently being worked upon and the Company expects to secure and firm up the plans as soon as possible. Due to Covit19, the response from Investors and Lenders/Equipment Leasing companies is rather slow.
The company is concurrently seeking equity financing for $12,000,000 to pay off all debts and have the company become a debt free entity. The targeted accredited investors are those that wish to invest in “Sharia Compliant” entities. Discussions are under way, and it is hoped that the efforts will be result in success.
the surveyors had completed the demarcation of the property, the area dedicated to the scrap metal processing has been determined to be around 9 acres. Motors & Metals, Inc. is beginning the clean-up process. Part of the sought financing will be deployed to prepare the infrastructure for installation of the equipment.
A firm contract with the machinery suppliers will be executed as soon as financing is arranged.
City Autos, Corp. – the subsidiary of the Company has received the business license to operate as used car dealership which encompasses the business of auto leasing and renting. Application to the DMV in the Commonwealth of Virginia will soon be filed to obtain the dealer license. City Autos plans to confine its business to auto “Lease – Rent To Own” only. The model City Autos has chosen is a weekly program to Lease – Rent To Own on affordable weekly payments. City Autos plans to stay with a 50 cars fleet until such time that adequate staff is hired and trained. City Autos is also in the process of negotiation with a used car dealership that could be acquired by FFLO to jump start the business.
RESULTS OF OPERATIONS
The Company did recognize revenue for a sum of $216,440$616,806 during the threenine months ended March 31,September 30, 2021 and $116,379$360,236 of revenues during the Three monthnine months ended March 31,September 30, 2020. TheWhile the net revenues for the period ended March 31, 2021were moreSeptember 30, 2021 were higher by $100,061$256,570 than for the same period during 2020 and the Cost of Goods Sold was highalso higher by $39,918$135,034 during the period ended March 31,September 30, 2021 as compared to the same period during 2020. This 85 % increase in cost of goods sold was due to increase in number of costly automobiles being dismantled while the overheads for dismantling increased. The Gross Profit had an increase, i.e. by $ 60,142 duringgeneral and administrative expenses for the period ended March 31, 2021September 30 2021were $158,113 as compared to 157,772 for the same period during 2020. During the period of 2021 the Company was making purchases in excess to what it did during the same period in 2020, excess purchases lead to excess administrative expenses. Also because the company is now in a stabilized mode and costs are being controlled.
During the Threenine months ended March 31, 2021, the Company incurred operational expenses of $95,092. This compares to $121,112 for the three months ended March 31, 2020. This decrease in operational expenses reflects the decrease in operation staff.
During the three months ended March 31,September 30, 2021 the company recognized a netgross profit of $48,708$322,971 as compared to a profit of $25,214$201,435 for the corresponding period in the year 2020, thus recognizing a significantthis increase of $121,536 in Gross profit equates to approximately 60% as compared to the threenine months ended March 31,September 30 2020. The optimal utilization of staff and infrastructure that has been build up will take time to show
During the desired results. Staff is being trained to achievenine month ended September 30, 2021 the productivity that will result in better revenues in near future.
The books show ancompany recognized a net operating net profit of $48,708 the Company has also increased its inventory by $998,938 thus showing a total inventory at cost of $1,839,095$3,882 as on March 31, 2021 compared to an inventory at costoperating loss of $(34,350) for a sum of $1,778,824 as on December 31, 2020 and $840,156 as on March 31, 2020. While the Company cannot predict if this inventory will be sold at the list price which approximately is three (3) times its book value cost price (it has been calculated at less than 30% of the selling price) but the management is confident that the marked list price of the inventory is realistic with the current market conditions.
The inventory valuation is based on the industry standards, the management reviewed financial statements of other companies that are listed on NASDAQ and are audited by PCAOB firms like BDO. The management found that their approach was exactly same thus the inventory valuation is managements view is substantially accurate. Selling price of parts do not have too much fluctuations, in spite of this fact, the management does review their inventory price and the internal monthly reports do reflect any downward change which is subsequently reportedcorresponding period in the quarterly reports. The Company has limited history, but the management has access to records to the previous owners’ activities which go back to over 10 years.
The tax returns for the previous years have been filed and there are no tax liabilitiesyear 2020, this increase in net operating profit by $38,232 is due to the fact that the books reflectsales were higher by $256,570 and the fixed administrative, professional and financial expenses were significantly high thus yielding a net loss.low margin of profit. .
The company’s administrative officeCompany began selling on eBay and continues to attain a rating of five star (5/5). This excellent rating is based on review by the customers. Uploading the inventory is a lengthy and slow process (to log on inventory with photographs and price) on the eBay platform.
Management has been relocatedopted to provide for the depreciation of equipment, trucks and building at 6269 Caledon Road, King George, VA 22485.the end of the year instead of providing for it on quarterly basis.
LIQUIDITY
THE INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM’S REPORT ON THE COMPANY’S FINANCIAL STATEMENTS AS OF DECEMBER 31, 2017,2020, AND FOR EACH OF THE PRECEDING YEARS THEN ENDED, INCLUDES A “GOING CONCERN” EXPLANATORY PARAGRAPH THAT DESCRIBES SUBSTANTIALLY DOUBT ABOUT THE COMPANY’S ABILITY TO CONTINUE AS A GOING CONCERN.
BALANCE SHEET:
On March 31,September 30, 2021 the Company had total current assets of $2,136,003$2,412,684 consisting of $60,324$32,790 in cash and $141,506$199,784 in trade receivables, and $1,839,095$2,180,109 in inventory. As on September 30, 2020 the Company has a total current assets of $1,224,484 consisting of $108,186 in cash and $219,917 in trade receivables, and $887,543 in inventory at book value. The suggested sale price is over $4,000,000.
cost.
NEED FOR ADDITONAL CAPITAL
EQUITY LINE OF CREDIT
The Company has obtained an equity line of credit from Incredible Bank (f/k/a River Valley Bank), additionally personally guaranteed by the CEO, Mr. Sabir Saleem against which, a sum of $335,801 was drawn as on September 30, 2021. The line of credit is seeking additional capitalbeing used for operating expenses, primarily for purchase of inventory.
OTHER LOANS
As of September 30, 2021 the Company had an outstanding loan from PayPal in the amount of $53,584 and received a loan under SBA Payroll Protection and Economic Injury Disaster Loan in the amount of a total sum of $219,025. The PPP1 loan in the amount of $27,800 is likely to increase its inventory which directly affectsbe forgiven, request for the Sales. Management feels that with an additional infusion of $1,000,000 in working capital for inventorysame has been submitted to the company’s annual sales could grow between $3,000,000 and $4,000,000.SBA.
REVENUE RECOGNITION
The Company recognizes revenues on arrangements in accordance with Securitas and Exchange Commission Staff Accounting Bulletin Topic 13, REVENUE RECOGNITION and FASB ASC 605-15-25, REVENUE RECONGNITION. In all cases, revenue is recognized only when the price is fixed or determinable, persuasive evidence of an arrangement exists, the service is performed and collectability is reasonable assured. The Company reported gross revenues of $411,694 for$616,806for the year ending December 31, 2020.nine months ended September 30, 2021.
ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABUT MARKET RISKS
Not Applicable.
ITEM 4. CONTROLS AND PROCEURES
Management's Report on Disclosure Controls and Procedures
Management is responsible for establishing and maintaining adequate internal control so as to
(1) maintain the records in reasonable detail, which will accurately and fairly reflect the transactions and dispositions of the Company's assets;
(2) to provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that the Company's receipts and expenditures are made within the delegated authority ; and
(3) to provide reasonable assurance for the prevention or timely detection of unauthorized acquisition, use or disposition of the Company's assets that could have a material effect on company’s financial statements.
However, the management asserts that the company does not have any accounting staff due to limited financial resources though has plans to recruit gradually. Also, this company does not have a well written document on accounting policies and procedures, though has plans to have them shortly. Consequently, this can result in possible errors in the presentation and disclosure of financial information in our annual, quarterly, and other filings.
The SIC Code of 1700 as showing in Edgar for this company is no longer valid, since this company is now dealing with the auto parts, as OEM Recycled Auto Parts. Segregation of duties is an important factor in Internal Control. Though it is achieved to a certain extent, the management is committed to strengthen the internal controls effectively in the coming months.
Changes in Internal Control over Financial Reporting
There have been no changes in our internal controls over financial reporting that occurred during the period ended March 31,September 30, 2021, that have materially or are reasonably likely to materially affect, our internal controls over financial reporting.
PART II – OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS
None.
ITEM 1A. RISK FACTOR
Not Applicable to Smaller Reporting Companies.
ITEM 2 UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
During the period of January 1, 2015 and March 31, 2015, the Company issued 9,700 shares of Preferred Shares – Series “A” for a sum of $58,000 and 330,000 shares of Preferred Shares – Series “B” for a sum of $330,000 which were the result of conversion of certain debts of the company.
On
In April 2, 2019 inthe Company, as a private transaction, the Company acceptedissued 21,000 restricted shares of Common Shares for a sum of $14,490.00 against issuance of 21,000 restricted Common shares of the Company. Thus the total common shares issued and outstanding as on June 30, 2019 stood at 26,221,000$14,490.
ITEM 3. DEFAULTS UPON SENIOR SECURITIES
None.
ITEM 4. MINE SAFETY DISCLOSURE
Not Applicable
ITEM 5. OTHER INFORMATION
PART II. OTHER INFORMATION
ITEM 6. EXHIBITS.
The following exhibits are included with this quarterly filing. Those marked with an asterisk and required to be filed hereunder, are incorporated by reference and can be found in their entirety in our original Registration Statement on Form S-1, filed under SEC File Number 000-54868, at the SEC website at www.sec.gov:
