☒ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
LIVE OAK MOBILITY ACQUISITION CORP. | ||||
(Exact name of registrant as specified in its charter) |
Delaware | 001-40141 | 86-1492871 | ||||
(State or other jurisdiction of incorporation or organization) | (Commission File Number) | ( Identification No.) | ||||
Memphis, TN |
38103 | ||||
( Address Of Principal Executive Offices) | (Zip Code) |
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||
Units, each consisting of one share of Class A common stock, $0.0001 par value, and one-fifth of one redeemable warrant | LOKM.U | NYSE | ||||
Class A common stock included as part of the units | LOKM | NYSE | ||||
Redeemable warrants included as part of the units | LOKM WS | NYSE |
Large accelerated filer | ☐ | Accelerated filer | ☐ | |||
Non-accelerated filer | ☒ | Smaller reporting company | ☒ | |||
Emerging growth company | ☒ |
Page | ||||||
Item 1. | 1 | |||||
1 | ||||||
2 | ||||||
3 | ||||||
4 | ||||||
5 | ||||||
Item 2. | 19 | |||||
Item 3. | 23 | |||||
Item 4. | 23 | |||||
Item 1. | 24 | |||||
Item 1A. | 24 | |||||
Item 2. | ||||||
Item 3. | ||||||
Item 4. | ||||||
Item 5. | ||||||
Item 6. | 24 | |||||
26 |
Item 1. | Condensed Financial Statements |
March 31, 2022 | December 31, 2021 | |||||||
(Unaudited) | ||||||||
Assets: | ||||||||
Current assets: | ||||||||
Cash and cash equivalents | $ | 1,112,953 | $ | 1,515,842 | ||||
Prepaid expenses | 75,615 | 102,487 | ||||||
Total current assets | 1,188,568 | 1,618,329 | ||||||
Investments held in Trust Account | 253,043,491 | 253,020,936 | ||||||
Total Assets | $ | 254,232,059 | $ | 254,639,265 | ||||
Liabilities, Class A Common Stock Subject to Possible Redemption and Stockholders’ Deficit: | ||||||||
Current liabilities: | ||||||||
Accounts payable | $ | 75,878 | $ | 201,691 | ||||
Accrued expenses | 21,250 | 1,662,248 | ||||||
Franchise tax payable | 50,000 | 167,820 | ||||||
Total current liabilities | 147,128 | 2,031,759 | ||||||
Deferred legal fees | 1,863,452 | 150,000 | ||||||
Derivative warrant liabilities | 4,527,000 | 11,669,000 | ||||||
Deferred underwriting commissions | 7,988,750 | 7,988,750 | ||||||
Total Liabilities | 14,526,330 | 21,839,509 | ||||||
Commitments and Contingencies | 0 | 0 | ||||||
Class A common stock subject to possible redemption, $0.0001 par value; 25,300,000 shares at redemption value of $10.00 per share as of March 31, 2022 and December 31, 2021 | 253,000,000 | 253,000,000 | ||||||
Stockholders’ Deficit: | ||||||||
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; 0ne issued or outstanding | 0— | 0— | ||||||
Class A common stock, $0.0001 par value; 250,000,000 shares authorized as of March 31, 2022 and December 31, 2021 | 0— | 0— | ||||||
Class B common stock, $0.0001 par value; 20,000,000 shares authorized; 6,325,000 shares issued and outstanding as of March 31, 2022 and December 31, 2021 | 633 | 633 | ||||||
Additional paid-in capital | 0— | 0— | ||||||
Accumulated deficit | (13,294,904 | ) | (20,200,877 | ) | ||||
Total stockholders’ deficit | (13,294,271 | ) | (20,200,244 | ) | ||||
Total Liabilities, Class A Common Stock Subject to Possible Redemption and Stockholders’ Deficit | $ | 254,232,059 | $ | 254,639,265 | ||||
Assets: | ||||
Current assets: | ||||
Cash and cash equivalents | $ | 1,788,752 | ||
Prepaid expenses | 416,074 | |||
Total current assets | 2,204,826 | |||
Investments held in Trust Account | 253,008,180 | |||
Total Assets | $ | 255,213,006 | ||
Liabilities and Stockholders’ Equity: | ||||
Current liabilities: | ||||
Accounts payable | $ | 174,482 | ||
Accrued expenses | 124,833 | |||
Franchise tax payable | 90,461 | |||
Total current liabilities | 389,776 | |||
Deferred legal fees | 150,000 | |||
Derivative warrant liabilities | 16,991,200 | |||
Deferred underwriting commissions | 7,988,750 | |||
Total Liabilities | 25,519,726 | |||
Commitments and Contingencies | 0 | |||
Class A common stock, $0.0001 par value; 22,469,327 shares subject to possible redemption at $10.00 per share | 224,693,270 | |||
Stockholders’ Equity: | ||||
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; NaN issued and outstanding | 0— | |||
Class A common stock, $0.0001 par value; 250,000,000 shares authorized; 2,830,673 shares issued and outstanding (excluding 22,469,327 shares subject to possible redemption) | 283 | |||
Class B common stock, $0.0001 par value; 20,000,000 shares authorized; 6,325,000 shares issued and outstanding | 633 | |||
Additional paid-in capital | 8,506,902 | |||
Accumulated deficit | (3,507,808 | ) | ||
Total stockholders’ equity | 5,000,010 | |||
Total Liabilities and Stockholders’ Equity | $ | 255,213,006 | ||
For t he Three MonthsEnded March 31, 2022 | For t he Period FromJanuary 15, 2021 (Inception) Through March 31, 2021 | |||||||
General and administrative expenses | $ | 165,428 | $ | 268,122 | ||||
General and administrative expenses - related party | 45,000 | 15,000 | ||||||
Franchise tax expense | 49,677 | 41,146 | ||||||
Loss from operations | (260,105 | ) | (324,268 | ) | ||||
Other income (expenses): | ||||||||
Change in fair value of derivative warrant liabilities | 7,142,000 | 351,800 | ||||||
Offering costs - derivative warrant liabilities | — | (387,350 | ) | |||||
Loss on issuance of private placement warrants | — | (1,800,000 | ) | |||||
Interest income from investments held in Trust Account | 22,555 | 1,872 | ||||||
Interest income from operating account | 1,523 | 230 | ||||||
Net income (loss) | $ | 6,905,973 | $ | (2,157,716 | ) | |||
Weighted average shares outstanding of Class A common stock | 25,300,000 | 9,321,053 | ||||||
Basic and diluted net income (loss) per share, Class A common stock | $ | 0.22 | $ | (0.14 | ) | |||
Weighted average shares outstanding of Class B common stock | 6,325,000 | 5,803,947 | ||||||
Basic and diluted net income (loss) per share, Class B common stock | $ | 0.22 | $ | (0.14 | ) | |||
Common Stock | Additional Paid-In Capital | Accumulated Deficit | Total Stockholders’ Deficit | |||||||||||||||||||||||||
Class A | Class B | |||||||||||||||||||||||||||
Shares | Amount | Shares | Amount | |||||||||||||||||||||||||
Balance - December 31, 2021 | 0 | $ | 0— | 6,325,000 | $ | 633 | $ | 0— | $ | (20,200,877 | ) | $ | (20,200,244 | ) | ||||||||||||||
Net income | — | — | — | — | — | 6,905,973 | 6,905,973 | |||||||||||||||||||||
Balance - March 31, 2022 (unaudited) | 0 | $ | 0 | 6,325,000 | $ | 633 | $ | 0 | $ | (13,294,904 | ) | $ | (13,294,271 | ) | ||||||||||||||
Common Stock | Additional Paid-In Capital | Accumulated Deficit | Total Stockholders’ Deficit | |||||||||||||||||||||||||
Class A | Class B | |||||||||||||||||||||||||||
Shares | Amount | Shares | Amount | |||||||||||||||||||||||||
Balance - January 15, 2021 (inception) | 0 | $ | 0— | 0 | $ | 0— | $ | 0— | $ | 0— | $ | 0— | ||||||||||||||||
Issuance of Class B common stock to Sponsor | — | — | 6,325,000 | 633 | 24,367 | — | 25,000 | |||||||||||||||||||||
Accretion of Class A common stock subject to possible redemption amount | — | — | — | — | (24,367 | ) | (19,799,545 | ) | (19,823,912 | ) | ||||||||||||||||||
Net loss | — | — | — | — | — | (2,157,716 | ) | (2,157,716 | ) | |||||||||||||||||||
Balance - March 31, 2021 (unaudited) | 0 | $ | 0 | 6,325,000 | $ | 633 | $ | 0 | $ | (21,957,261 | ) | $ | (21,956,628 | ) | ||||||||||||||
For the Three Months Ended June 30, 2021 | For the P eriod fromJanuary 15, 2021 ( I nception)T hroughJune 30, 2021 | |||||||
(unaudited) | (unaudited) | |||||||
General and administrative expenses | $ | 305,907 | $ | 574,029 | ||||
General and administrative expenses - related party | 45,000 | 60,000 | ||||||
Franchise tax expense | 49,315 | 90,461 | ||||||
Loss from operations | (400,222 | ) | (724,490 | ) | ||||
Other income (expense) | ||||||||
Change in fair value of derivative warrant liabilities | (959,000 | ) | (607,200 | ) | ||||
Offering costs - derivative warrant liabilities | 0— | (387,350 | ) | |||||
Loss on issuance of private placement warrants | 0— | (1,800,000 | ) | |||||
Interest income from investments held in Trust Account | 6,308 | 8,180 | ||||||
Interest income from operating account | 2,822 | 3,052 | ||||||
Net loss | $ | (1,350,092 | ) | $ | (3,507,808 | ) | ||
Weighted average shares outstanding of Class A redeemable common stock | 25,300,000 | 25,300,000 | ||||||
Basic and diluted net income per share, Class A redeemable common stock | $ | 0.00 | $ | 0.00 | ||||
Weighted average shares outstanding of Class B redeemable common stock | 6,325,000 | 6,042,403 | ||||||
Basic and diluted net loss per share, Class B redeemable common stock | $ | (0.21 | ) | $ | (0.58 | ) | ||
For t he Three MonthsEnded March 31, 2022 | For t he Period FromJanuary 15, 2021 (Inception) Through March 31, 2021 | |||||||
Cash Flows from Operating Activities: | ||||||||
Net income (loss) | $ | 6,905,973 | $ | (2,157,716 | ) | |||
Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||||||||
Change in fair value of derivative warrant liabilities | (7,142,000 | ) | (351,800 | ) | ||||
Offering costs - derivative warrant liabilities | — | 387,350 | ||||||
Loss on issuance of private placement warrants | — | 1,800,000 | ||||||
Interest income from investments held in Trust Account | (22,555 | ) | (1,872 | ) | ||||
Changes in operating assets and liabilities: | ||||||||
Prepaid expenses | 26,872 | (575,136 | ) | |||||
Accounts payable | (125,813 | ) | 232,384 | |||||
Accrued expenses | (1,640,998 | ) | 8,464 | |||||
Deferred legal fees | 1,713,452 | 0 | ||||||
Franchise tax payable | (117,820 | ) | 41,146 | |||||
Net cash used in operating activities | (402,889 | ) | (617,180 | ) | ||||
Cash Flows from Investing Activities: | ||||||||
Cash deposited in Trust Account | — | (253,000,000 | ) | |||||
Net cash used in investing activities | — | (253,000,000 | ) | |||||
Cash Flows from Financing Activities: | ||||||||
Proceeds from issuance of Class B common stock to Sponsor | — | 25,000 | ||||||
Proceeds from note payable to related party | — | 45,000 | ||||||
Repayment of note payable to related party | — | (45,000 | ) | |||||
Proceeds received from initial public offering | — | 253,000,000 | ||||||
Proceeds received from private placement warrants | — | 7,500,000 | ||||||
Offering costs paid | — | (4,882,213 | ) | |||||
Net cash provided by financing activities | — | 255,642,787 | ||||||
Net decrease (increase) in cash and cash equivalents | (402,889 | ) | 2,025,607 | |||||
Cash and cash equivalents - beginning of the period | 1,515,842 | 0 | ||||||
Cash and cash equivalents - end of the period | $ | 1,112,953 | $ | 2,025,607 | ||||
Supplemental disclosure of noncash activities: | ||||||||
Offering costs included in accounts payable | $ | 0— | $ | 21,300 | ||||
Offering costs included in accrued expenses | $ | 0— | $ | 85,000 | ||||
Deferred underwriting commissions | $ | — | $ | 150,000 | ||||
Deferred underwriting commissions | $ | — | $ | 7,988,750 |
Common Stock | Total Stockholders’ Equity | |||||||||||||||||||||||||||
Class A | Class B | Additional Paid-In Capital | Accumulated Deficit | |||||||||||||||||||||||||
Shares | Amount | Shares | Amount | |||||||||||||||||||||||||
Balance - January 15, 2021 (inception) | 0— | $ | 0— | 0— | $ | 0— | $ | 0— | $ | 0— | $ | 0— | ||||||||||||||||
Issuance of Class B common stock to Sponsor | — | — | 6,325,000 | 633 | 24,367 | — | 25,000 | |||||||||||||||||||||
Sale of shares in initial public offering, less fair value of derivative warrant liabilities | 25,300,000 | 2,530 | — | — | 245,913,470 | — | 245,916,000 | |||||||||||||||||||||
Offering costs | — | — | — | — | (12,739,912 | ) | — | (12,739,912 | ) | |||||||||||||||||||
Class A common stock subject to possible redemption | (22,604,337 | ) | (2,260 | ) | — | — | (226,041,110 | ) | — | (226,043,370 | ) | |||||||||||||||||
Net loss | — | — | — | — | — | (2,157,716 | ) | (2,157,716 | ) | |||||||||||||||||||
Balance - March 31, 2021 (unaudited) | 2,695,663 | 270 | 6,325,000 | 633 | 7,156,815 | (2,157,716 | ) | 5,000,002 | ||||||||||||||||||||
Class A common stock subject to possible redemption | 135,010 | 13 | — | — | 1,350,087 | — | 1,350,100 | |||||||||||||||||||||
Net loss | — | — | — | — | — | (1,350,092 | ) | (1,350,092 | ) | |||||||||||||||||||
Balance - June 30, 2021 (unaudited) | 2,830,673 | $ | 283 | 6,325,000 | $ | 633 | $ | 8,506,902 | $ | (3,507,808 | ) | $ | 5,000,010 | |||||||||||||||
Cash Flows from Operating Activities: | ||||
Net loss | $ | (3,507,808 | ) | |
Adjustments to reconcile net loss to net cash used in operating activities: | ||||
Change in fair value of derivative warrant liabilities | 607,200 | |||
Offering costs - derivative warrant liabilities | 387,350 | |||
Loss on issuance of private placement warrants | 1,800,000 | |||
Interest income from investments held in Trust Account | (8,180 | ) | ||
Changes in operating assets and liabilities: | ||||
Prepaid expenses | (416,074 | ) | ||
Accounts payable | 153,182 | |||
Accrued expenses | 39,833 | |||
Franchise tax payable | 90,461 | |||
Net cash used in operating activities | (854,036 | ) | ||
Cash Flows from Investing Activities: | ||||
Cash deposited in Trust Account | (253,000,000 | ) | ||
Net cash used in investing activities | (253,000,000 | ) | ||
Cash Flows from Financing Activities: | ||||
Proceeds from issuance of Class B common stock to Sponsor | 25,000 | |||
Proceeds from note payable to related party | 45,000 | |||
Repayment of note payable to related party | (45,000 | ) | ||
Proceeds received from initial public offering | 253,000,000 | |||
Proceeds received from private placement warrants | 7,500,000 | |||
Offering costs paid | (4,882,212 | ) | ||
Net cash provided by financing activities | 255,642,788 | |||
Net increase in cash and cash equivalents | 1,788,752 | |||
Cash and cash equivalents - beginning of the period | 0— | |||
Cash and cash equivalents - end of the period | $ | 1,788,752 | ||
Supplemental disclosure of noncash activities: | ||||
Offering costs included in accounts payable | $ | 21,300 | ||
Offering costs included in accrued expenses | $ | 85,000 | ||
Deferred legal fees | $ | 150,000 | ||
Deferred underwriting commissions | $ | 7,988,750 | ||
Initial value of Class A common stock subject to possible redemption | $ | 225,985,540 | ||
Change in value of Class A common stock subject to possible redemption | $ | (1,292,270 | ) |
For the Three Months Ended June 30, 2021 | For the P eriod fromJanuary 15, 2021 ( I nception)T hroughJune 30, 2021 | |||||||
Class A common stock | ||||||||
Numerator: Income allocable to Class A common stock | ||||||||
Income from investments held in Trust Account | $ | 6,308 | $ | 8,180 | ||||
Less: Company’s portion available to be withdrawn to pay taxes | (6,308 | ) | (8,180 | ) | ||||
Net income attributable to Class A common stock | $ | 0 | $ | 0 | ||||
Denominator: Weighted average Class A common stock | ||||||||
Basic and diluted weighted average shares outstanding, Class A common stock | 25,300,000 | 25,300,000 | ||||||
Basic and diluted net income per share, Class A common stock | $ | 0.00 | $ | 0.00 | ||||
Class B common stock | ||||||||
Numerator: Net income (loss) minus net income allocable to Class A common stock | ||||||||
Net income (loss) | $ | (1,350,092 | ) | $ | (3,507,808 | ) | ||
Net income allocable to Class A common stock | 0 | 0 | ||||||
Net income (loss) attributable to Class B common stock | $ | (1,350,092 | ) | $ | (3,507,808 | ) | ||
Denominator: Weighted average Class B common stock | ||||||||
Basic and diluted weighted average shares outstanding, Class B common stock | 6,325,000 | 6,042,403 | ||||||
Basic and diluted net loss per share, Class B common stock | $ | (0.21 | ) | $ | (0.58 | ) | ||
For the Three Months Ended March 31, 2022 | ||||||||
Class A | Class B | |||||||
Basic and diluted net income per common stock: | ||||||||
Numerator: | ||||||||
Allocation of net income | $ | 5,524,778 | $ | 1,381,195 | ||||
Denominator: | ||||||||
Basic and diluted weighted average common stock outstanding | 25,300,000 | 6,325,000 | ||||||
Basic and diluted net income per common stock | $ | 0.22 | $ | 0.22 | ||||
For the P eriod fromJanuary 15, 2021 (inception) through March 31, 2021 | ||||||||
Class A | Class B | |||||||
Basic and diluted net loss per common stock: | ||||||||
Numerator: | ||||||||
Allocation of net loss | $ | (1,329,731 | ) | $ | (827,985 | ) | ||
Denominator: | ||||||||
Basic and diluted weighted average common stock outstanding | 9,321,053 | 5,803,947 | ||||||
Basic and diluted net loss per common stock | $ | (0.14 | ) | $ | (0.14 | ) | ||
Gross proceeds from Initial Public Offering | $ | 253,000,000 | ||
Less: | ||||
Fair value of Public Warrants at issuance | (7,084,000 | ) | ||
Offering costs allocated to Class A common stock subject to possible redemption | (12,739,912 | ) | ||
Plus: | ||||
Accretion on Class A common stock subject to possible redemption amount | 19,823,912 | |||
Class A common stock subject to possible redemption | $ | 253,000,000 | ||
Description | Quoted Prices in Active Markets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Other Unobservable Inputs (Level 3) | |||||||||
Assets: | ||||||||||||
Investments held in Trust Account - Money market funds | $ | 253,008,180 | $ | — | $ | — | ||||||
Liabilities: | ||||||||||||
Derivative warrant liabilities - Public warrants | $ | 7,691,200 | $ | — | $ | — | ||||||
Derivative warrant liabilities - Private placement warrants | $ | — | $ | — | $ | 9,300,000 |
Description | Quoted Prices in Active Markets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Other Unobservable Inputs (Level 3) | |||||||||
Assets: | ||||||||||||
Investments held in Trust Account—Money market | $ | 253,043,491 | $ | — | $ | — | ||||||
Liabilities: | ||||||||||||
Derivative warrant liabilities—Public warrants | $ | 2,277,000 | $ | — | $ | — | ||||||
Derivative warrant liabilities—Private placement warrants | $ | — | $ | — | $ | 2,250,000 |
Description | Quoted Prices in Active Markets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Other Unobservable Inputs (Level 3) | |||||||||
Assets: | ||||||||||||
Investments held in Trust Account—Money market funds | $ | 253,020,936 | $ | — | $ | — | ||||||
Liabilities: | ||||||||||||
Derivative warrant liabilities—Public warrants | $ | 5,819,000 | $ | — | $ | — | ||||||
Derivative warrant liabilities—Private placement warrants | $ | — | $ | — | $ | 5,850,000 |
March 31, 2022 | December 31, 2021 | |||||||||||||
Initial Fair Value | March 31, 2021 | June 30, 2021 | ||||||||||||
Exercise price | $11.50 | $11.50 | $11.50 | $ | 11.50 | $ | 11.50 | |||||||
Stock price | $9.84 | $9.71 | $9.80 | $ | 9.81 | $ | 9.81 | |||||||
Volatility | 25% - 30% | 25% - 30% | 30.0% | 7.5 | % | 20 | % | |||||||
Term | 5.5 | 5.5 | 5.5 | |||||||||||
Term (in years) | 5.5 | 5.5 | ||||||||||||
Risk-free rate | 0.90% | 1.00% | 1.00% | 2.40 | % | 1.30 | % |
Derivative warrant liabilities at January 15, 2021 (inception) | $ | 0 | ||
Issuance of Public and Private Warrants | 14,584,000 | |||
Loss on issuance of Private Placement Warrants | 1,800,000 | |||
Change in fair value of derivative warrant liabilities | (351,800 | ) | ||
Derivative warrant liabilities at March 31, 2021 | $ | 16,032,200 | ||
Derivative warrant liabilities at January 1, 2022 | 5,850,000 | |||
Change in fair value of derivative warrant liabilities | $ | (3,600,000 | ) | |
Derivative warrant liabilities at March 31, 2022 | $ | 2,250,000 | ||
Derivative warrant liabilities at January 15, 2021 (inception) | $ | 0— | ||
Issuance of Public and Private Warrants | 14,584,000 | |||
Loss on issuance of Private Placement Warrants | 1,800,000 | |||
Change in fair value of derivative warrant liabilities | (351,800 | ) | ||
Derivative warrant liabilities at March 31, 2021 | $ | 16,032,200 | ||
Transfer of Public Warrants to Level 1 | (6,932,200 | ) | ||
Change in fair value of derivative warrant liabilities | 200,000 | |||
Derivative warrant liabilities at June 30, 2021 | $ | 9,300,000 | ||
Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations. |
Item 3. | Quantitative and Qualitative Disclosures About Market Risk |
Item 4. | Controls and Procedures |
Item 1. | Legal Proceedings |
Item 1A. | Risk Factors |
Item 2. | Unregistered Sales of Equity Securities and Use of Proceeds. |
Item 3. | Defaults upon Senior Securities |
Item 4. | Mine Safety Disclosures. |
Item 5. | Other Information. |
Item 6. | Exhibits. |
Exhibit Number | Description | |
101.INS | XBRL Instance | |
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 | |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
* | These certifications are furnished to the SEC pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and are deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall they be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing. |
Dated: | LIVE OAK MOBILITY ACQUISITION CORP. | |||||
By: | /s/ | |||||
Name: | Gary K. Wunderlich, Jr. | |||||
Title: | President, Chief (Principal Financial and Accounting Officer) |