☒ | 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 |
Cayman Islands | 98-1550179 | |
(State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) | |
PO Box 1093, Boundary Hall, Cricket Square, Grand Cayman Cayman Islands | KY1-1102 | |
(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 Class A Ordinary Share, $0.0001 par value, and one-half of one redeemable warrant | AVAN.U | New York Stock Exchange | ||
Class A Ordinary Shares included as part of the units | AVAN | New York Stock Exchange | ||
Redeemable warrants included as part of the units, each whole warrant exercisable for one Class A Ordinary Share at an exercise price of $11.50 | AVAN WS | New York Stock Exchange |
Large, accelerated filer | ☐ | Accelerated filer | ☐ | |||
Non-accelerated filer | ☒ | Smaller reporting company | ☒ | |||
Emerging growth company | ☒ |
Page | |||||||||
PART 1 — FINANCIAL INFORMATION | |||||||||
Item 1. | 1 | ||||||||
1 | |||||||||
2 | |||||||||
3 | |||||||||
4 | |||||||||
5 | |||||||||
Item 2. | |||||||||
Item 3. | |||||||||
Item 4. | |||||||||
Item 1. | 20 | ||||||||
Item | |||||||||
Item | |||||||||
Unregistered Sales of Equity Securities and Use of Proceeds | |||||||||
Item 3. | 21 | ||||||||
Item 4. | 21 | ||||||||
Item 5. | 21 | ||||||||
Item 6. | 22 | ||||||||
ITEM 1. | FINANCIAL STATEMENTS |
September 30, 2021 | December 31, 2020 | |||||||
(Unaudited) | ||||||||
ASSETS | ||||||||
Current assets | ||||||||
Cash | $ | 300,410 | $ | 1,194,821 | ||||
Prepaid expenses | 512,689 | 20,949 | ||||||
Total Current Assets | 813,099 | 1,215,770 | ||||||
Investments held in Trust Account | 600,035,972 | 600,008,617 | ||||||
TOTAL ASSETS | $ | 600,849,071 | $ | 601,224,387 | ||||
LIABILITIES AND SHAREHOLDERS’ DEFICIT | ||||||||
Current liabilities | ||||||||
Accounts payable and accrued expenses | $ | 107,807 | $ | 2,250 | ||||
Accrued offering costs | 0 | 3,193 | ||||||
Advances from related party | 468,236 | 0 | ||||||
Total Current Liabilities | 576,043 | 5,443 | ||||||
FPA liabilities | 1,024,994 | 8,483,278 | ||||||
Warrant liabilities | 28,600,000 | 66,440,000 | ||||||
Deferred underwriting fee payable | 21,000,000 | 21,000,000 | ||||||
Total Liabilities | 51,201,037 | 95,928,721 | ||||||
Commitments and Contingencies | 0 | 0 | ||||||
Class A ordinary shares subject to possible redemption, 60,000,000 shares at $10.00 per share as of September 30, 2021 and December 31, 2020 | 600,000,000 | 600,000,000 | ||||||
Shareholders’ Deficit | ||||||||
Preference shares, $0.0001 par value; 5,000,000 shares authorized; 0 non-redeemable shares issued and outstanding | 0— | 0— | ||||||
Class A ordinary shares, $0.0001 par value; 500,000,000 shares authorized; NaN issued or outstanding and that it excludes shares subject to redemption. | 0 | 0 | ||||||
Class B ordinary shares, $0.0001 par value; 50,000,000 shares authorized; 15,000,000 shares issued and outstanding at September 30, 2021, and December 31, 2020 | 1,500 | 1,500 | ||||||
Additional paid-in capital | 0 | 0 | ||||||
Accumulated deficit | (50,353,466 | ) | (94,705,834 | ) | ||||
Total Shareholders’ Deficit | (50,351,966 | ) | (94,704,334 | ) | ||||
TOTAL LIABILITIES AND SHAREHOLDERS’ DEFICIT | $ | 600,849,071 | $ | 601,224,387 | ||||
June 30, 2022 | December 31, 2021 | |||||||
(Unaudited) | ||||||||
ASSETS | ||||||||
Current assets | ||||||||
Cash | $ | 40,563 | $ | 67,132 | ||||
Prepaid expenses | 174,535 | 375,624 | ||||||
Total Current Assets | 215,098 | 442,756 | ||||||
FPA Asset | 85,003 | — | ||||||
Investments held in Trust Account | 600,948,553 | 600,046,438 | ||||||
TOTAL ASSETS | $ | 601,248,654 | $ | 600,489,194 | ||||
LIABILITIES, ORDINARY SHARES SUBJECT TO REDEMPTION AND SHAREHOLDERS’ DEFICIT | ||||||||
Current liabilities | ||||||||
Accounts payable and accrued expenses | $ | 81,110 | $ | 103,247 | ||||
Promissory note – related party | 843,236 | 468,236 | ||||||
Total Current Liabilities | 924,346 | 571,483 | ||||||
FPA liabilities | — | 1,014,997 | ||||||
Warrant liabilities | 3,080,000 | 26,048,000 | ||||||
Deferred underwriting fee payable | 21,000,000 | 21,000,000 | ||||||
TOTAL LIABILITIES | 25,004,346 | 48,634,480 | ||||||
Commitments and Contingencies | 0 | 0 | ||||||
Class A ordinary shares subject to possible redemption, 60,000,000 shares at approximately $10.02 and $10.00,, respectively | 600,948,553 | 600,000,000 | ||||||
Shareholders’ Deficit | ||||||||
Preference shares, $0.0001 par value; 5,000,000 shares authorized; 0ne issued or outstanding as of June 30, 2022 and December 31, 2021 | 0— | 0— | ||||||
Class A ordinary shares, $0.0001 par value; 500,000,000 shares authorized; 0ne issued or outstanding, excluding shares subject to redemption, at June 30, 2022 and December 31, 2021 | 0— | 0— | ||||||
Class B ordinary shares, $0.0001 par value; 50,000,000 shares authorized; 15,000,000 shares issued and outstanding at June 30, 2022 and December 31, 2021 | 1,500 | 1,500 | ||||||
Additional paid-in capital | 0— | 0— | ||||||
Accumulated deficit | (24,705,745 | ) | (48,146,786 | ) | ||||
Total Shareholders’ Deficit | (24,704,245 | ) | (48,145,286 | ) | ||||
TOTAL LIABILITIES, ORDINARY SHARES SUBJECT TO REDEMPTION AND SHAREHOLDERS’ DEFICIT | $ | 601,248,654 | $ | 600,489,194 | ||||
Three Months Ended September 30, 2021 | Nine Months Ended September 30, 2021 | For the Period from July 24, 2020 (inception) through September 30, 2020 | ||||||||||
Operating costs | $ | 274,019 | $ | 973,271 | $ | 8,130 | ||||||
Loss from operations | (274,019 | ) | (973,271 | ) | (8,130 | ) | ||||||
Other income: | ||||||||||||
Interest earned on investments held in Trust Account | 9,219 | 27,355 | — | |||||||||
Change in fair value of warrant liabilities | 17,160,000 | 37,840,000 | — | |||||||||
Change in fair value of FPA liabilities | 1,291,669 | 7,458,284 | — | |||||||||
Total other income | 18,460,888 | 45,325,639 | — | |||||||||
Net income (loss) | $ | 18,186,869 | $ | 44,352,368 | $ | (8,130 | ) | |||||
Weighted average shares outstanding, Class A ordinary shares | 60,000,000 | 60,000,000 | — | |||||||||
Basic and diluted net income per share, Class A ordinary shares | $ | 0.24 | $ | 0.59 | $ | — | ||||||
Weighted average shares outstanding, Class B ordinary shares | 15,000,000 | 15,000,000 | 15,000,000 | |||||||||
Basic and diluted net income per share, Class B ordinary shares | $ | 0.24 | $ | 0.59 | $ | — | ||||||
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
2022 | 2021 | 2022 | 2021 | |||||||||||||
Operating costs | $ | 189,636 | $ | 298,311 | $ | 580,521 | $ | 699,252 | ||||||||
Loss from operations | (189,636 | ) | (298,311 | ) | (580,521 | ) | (699,252 | ) | ||||||||
Other income: | ||||||||||||||||
Interest earned on investments held in Trust Account | 852,231 | 9,118 | 902,115 | 18,136 | ||||||||||||
Change in fair value of FPA | 114,994 | 1,112,496 | 1,100,000 | 6,166,615 | ||||||||||||
Change in fair value of warrant liabilities | 8,360,000 | 440,000 | 22,968,000 | 20,680,000 | ||||||||||||
Total other income | 9,327,225 | 1,561,614 | 24,970,115 | 26,864,751 | ||||||||||||
Net income | $ | 9,137,589 | $ | 1,263,303 | $ | 24,389,594 | $ | 26,165,499 | ||||||||
Weighted average shares outstanding of Class A ordinary shares | 60,000,000 | 60,000,000 | 60,000,000 | 60,000,000 | ||||||||||||
Basic and diluted net income per share, Class A ordinary shares | $ | 0.12 | $ | 0.02 | $ | 0.33 | $ | 0.35 | ||||||||
Weighted average shares outstanding, Class B ordinary shares | 15,000,000 | 15,000,000 | 15,000,000 | 15,000,000 | ||||||||||||
Basic and diluted net income per share, Class B ordinary shares | $ | 0.12 | $ | 0.02 | $ | 0.33 | $ | 0.35 | ||||||||
Class A Ordinary Shares | Class B Ordinary Shares | Additional Paid-in | Accumulated | Total Shareholders’ | ||||||||||||||||||||||||
Shares | Amount | Shares | Amount | Capital | Deficit | Deficit | ||||||||||||||||||||||
Balance — December 31, 2020 | 0 | $ | 0 | 15,000,000 | $ | 1,500 | $ | 0 | $ | (94,705,834 | ) | $ | (94,704,334 | ) | ||||||||||||||
Net income | — | — | — | — | — | 24,902,196 | 24,902,196 | |||||||||||||||||||||
Balance — March 31, 2021 | 0 | $ | 0 | 15,000,000 | $ | 1,500 | $ | 0 | $ | (69,803,638 | ) | $ | (69,802,138 | ) | ||||||||||||||
Net income | — | — | — | — | — | 1,263,303 | 1,263,303 | |||||||||||||||||||||
Balance — June 30, 2021 | 0 | $ | 0 | 15,000,000 | $ | 1,500 | $ | 0 | $ | (68,540,335 | ) | $ | (68,538,835 | ) | ||||||||||||||
Net income | — | — | — | — | — | 18,186,869 | 18,186,869 | |||||||||||||||||||||
Balance — September 30, 2021 | 0 | $ | 0 | 15,000,000 | $ | 1,500 | $ | 0 | $ | (50,353,466 | ) | $ | (50,351,966 | ) | ||||||||||||||
Class A Ordinary Shares | Class B Ordinary Shares | Additional Paid-in Capital | Accumulated Deficit | Total Shareholder’s Deficit | ||||||||||||||||||||||||
Shares | Amount | Shares | Amount | |||||||||||||||||||||||||
Balance—January 1, 2022 | — | $ | — | 15,000,000 | $ | 1,500 | $ | — | $ | (48,146,786 | ) | $ | (48,145,286 | ) | ||||||||||||||
Net income | — | — | — | — | — | 15,252,005 | 15,252,005 | |||||||||||||||||||||
Balance—March 31, 2022 (unaudited) | — | $ | — | 15,000,000 | $ | 1,500 | $ | — | $ | (32,894,781 | ) | $ | (32,893,281 | ) | ||||||||||||||
Accretion for Class A ordinary shares to redemption amount | (948,553 | ) | (948,553 | ) | ||||||||||||||||||||||||
Net income | — | — | — | — | — | 9,137,589 | 9,137,589 | |||||||||||||||||||||
Balance—June 30, 2022 (unaudited) | — | $ | — | 15,000,000 | $ | 1,500 | $ | — | $ | (24,705,745 | ) | $ | (24,704,245 | ) | ||||||||||||||
Class A Ordinary Shares | Class B Ordinary Shares | Additional Paid-in Capital | Accumulated Deficit | Total Shareholder’s Equity | ||||||||||||||||||||||||
Shares | Amount | Shares | Amount | |||||||||||||||||||||||||
Balance — July 24, 2020 (inception) | — | $ | — | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | ||||||||||||||||
Issuance of Class B ordinary shares to Sponsor (1) | — | — | 17,250,000 | 1,725 | 23,275 | — | 25,000 | |||||||||||||||||||||
Net loss | — | — | — | — | — | (8,130 | ) | (8,130 | ) | |||||||||||||||||||
Balance — September 30, 2020 | — | $ | — | 17,250,000 | $ | 1,725 | $ | 23,275 | $ | (8,130 | ) | $ | 16,870 | |||||||||||||||
Class A Ordinary Shares | Class B Ordinary Shares | Additional Paid-in Capital | Accumulated Deficit | Total Shareholder’s Deficit | ||||||||||||||||||||||||
Shares | Amount | Shares | Amount | |||||||||||||||||||||||||
Balance —January 1, 2021 | — | $ | — | 15,000,000 | $ | 1,500 | $ | — | $ | (94,705,834 | ) | $ | (94,704,334 | ) | ||||||||||||||
Net income | — | — | — | — | — | 24,902,196 | 24,902,196 | |||||||||||||||||||||
Balance —March 31, 2021 (unaudited) | — | $ | — | 15,000,000 | $ | 1,500 | $ | — | $ | (69,803,638 | ) | $ | (69,802,138 | ) | ||||||||||||||
Net income | — | — | — | — | — | 1,263,303 | 1,263,303 | |||||||||||||||||||||
Balance —June 30, 2021 (unaudited) | — | $ | — | 15,000,000 | $ | 1,500 | $ | — | $ | (68,540,335 | ) | $ | (68,538,835 | ) | ||||||||||||||
Nine months Ended September 30, | For the Period from July 24, 2020 (inception) Through September 30, | |||||||
2021 | 2020 | |||||||
Cash Flows from Operating Activities: | ||||||||
Net income (loss) | $ | 44,352,368 | $ | (8,130 | ) | |||
Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||||||||
Change in fair value of warrant liability | (37,840,000 | ) | — | |||||
Change in fair value of FPA liability | (7,458,284 | ) | ||||||
Interest earned on investments held in Trust Account | (27,355 | ) | — | |||||
Changes in operating assets and liabilities: | ||||||||
Prepaid expenses | (491,740 | ) | — | |||||
Accounts payable and accrued expenses | 105,557 | 5,630 | ||||||
Net cash used in operating activities | (1,359,454 | ) | (2,500 | ) | ||||
Cash Flows from Financing Activities: | ||||||||
Advances from - related party | 468,236 | 100,000 | ||||||
Payment of offering costs | (3,193 | ) | (74,635 | ) | ||||
Net cash provided by financing activities | 465,043 | 25,365 | ||||||
Net Change in Cash | (894,411 | ) | 22,865 | |||||
Cash – Beginning of period | 1,194,821 | 0 | ||||||
Cash – End of period | $ | 300,410 | $ | 22,865 | ||||
Non-Cash investing and financing activities: | ||||||||
Offering costs included in accrued offering costs | $ | — | $ | 246,351 | ||||
Offering costs paid by Sponsor in exchange for issuance of founder shares | $ | — | $ | 25,000 | ||||
Offering costs paid through promissory note | $ | — | $ | 157,468 | ||||
For the Six Months Ended June 30, 2022 | For the Six Months Ended June 30, 2021 | |||||||
Cash Flows from Operating Activities: | ||||||||
Net income | $ | 24,389,594 | $ | 26,165,499 | ||||
Adjustments to reconcile net income to net cash used in operating activities: | ||||||||
Change in fair value of warrant liabilities | (22,968,000 | ) | (20,680,000 | ) | ||||
Change in fair value of FPA | (1,100,000 | ) | (6,166,615 | ) | ||||
Interest earned on investments held in Trust Account | (902,115 | ) | (18,136 | ) | ||||
Changes in operating assets and liabilities: | ||||||||
Prepaid expenses | 201,089 | (639,740 | ) | |||||
Accounts payable and accrued expenses | (22,137 | ) | 149,446 | |||||
Net cash used in operating activities | (401,569 | ) | (1,189,546 | ) | ||||
Cash Flows from Financing Activities: | ||||||||
Proceeds from promissory note—related party | 375,000 | — | ||||||
Net cash provided by financing activities | 375,000 | — | ||||||
Net Change in Cash | (26,569 | ) | (1,189,546 | ) | ||||
Cash – Beginning of period | 67,132 | 1,194,821 | ||||||
Cash – End of period | $ | 40,563 | $ | 5,275 | ||||
Non-cash investing and financing activities: | ||||||||
Accretion for Class A ordinary shares subject to possible redemption | $ | 948,553 | $ | — | ||||
Balance Sheet as of December 31, 2020 (audited) | As Previously Reported | Adjustment | As Revised | |||||||||
Class A ordinary shares subject to possible redemption | $ | 500,295,660 | $ | 99,704,340 | $ | 600,000,000 | ||||||
Class A ordinary shares | $ | 997 | $ | (997 | ) | $ | — | |||||
Additional paid-in capital | $ | 30,753,192 | $ | (19,983,155 | ) | $ | — | |||||
Accumulated deficit | $ | (25,755,683 | ) | $ | (79,720,188 | ) | $ | (94,705,834 | ) | |||
Total Shareholders’ Equity (Deficit) | $ | 5,000,006 | $ | (99,704,340 | ) | $ | (97,704,334 | ) |
Gross proceeds | $ | 600,000,000 | $ | 600,000,000 | ||||
Less: | ||||||||
Proceeds allocated to Public Warrants | $ | (37,500,000 | ) | (37,500,000 | ) | |||
Class A ordinary shares issuance costs | (31,473,651 | ) | (31,473,651 | ) | ||||
Plus: | ||||||||
Accretion of carrying value to redemption value | $ | 68,973,651 | 68,973,651 | |||||
Class A ordinary shares subject to possible redemption | $ | 600,000,000 | ||||||
Class A ordinary shares subject to possible redemptions, December 31, 2021 | $ | 600,000,000 | ||||||
Plus: | ||||||||
Accretion of carrying value to redemption value | 948,553 | |||||||
Class A ordinary shares subject to possible redemptions, June 30, 2022 | 600,948,553 | |||||||
Three Months Ended September 30, 2021 | Nine Months Ended September 30, 2021 | For the Period from July 24, 2020 (inception) Through September 30, 2020 | Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | Class B | Class A | Class B | Class A | Class B | 2022 | 2021 | 2022 | 2021 | |||||||||||||||||||||||||||||||||||||||||||||||
Basic and diluted net income (loss) per ordinary share | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | Class B | Class A | Class B | Class A | Class B | Class A | Class B | |||||||||||||||||||||||||||||||||||||||||||||||||
Numerator: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Allocation of net income (loss), as adjusted | $ | 14,549,495 | $ | 3,637,374 | $ | 35,481,894 | $ | 8,870,474 | $ | 0 | $ | (8,130 | ) | |||||||||||||||||||||||||||||||||||||||||||
Allocation of net income, as adjusted | $ | 7,310,071 | $ | 1,827,518 | $ | 1,010,642 | 252,661 | $ | 19,511,675 | $ | 4,877,919 | $ | 20,932,399 | $ | 5,233,100 | |||||||||||||||||||||||||||||||||||||||||
Denominator: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Basic and diluted weighted average shares outstanding | 60,000,000 | 15,000,000 | 60,000,000 | 15,000,000 | 0 | 15,000,000 | 60,000,000 | 15,000,000 | 60,000,000 | 15,000,000 | 60,000,000 | 15,000,000 | 60,000,000 | 15,000,000 | ||||||||||||||||||||||||||||||||||||||||||
Basic and diluted net income per ordinary share | $ | 0.24 | $ | 0.24 | $ | 0.59 | $ | 0.59 | $ | 0 | $ | 0 | $ | 0.12 | $ | 0.12 | $ | 0.02 | 0.02 | $ | 0.33 | $ | 0.33 | $ | 0.35 | $ | 0.35 |
Description | Level | June 30, 2022 | December 31, 2021 | |||||||||
Assets: | ||||||||||||
Investments held in Trust Account | 1 | $ | 600,948,553 | $ | 600,046,438 | |||||||
Liabilities: | ||||||||||||
Warrant Liabilities — Public Warrants | 1 | $ | 2,100,000 | $ | 17,760,000 | |||||||
Warrant Liabilities — Private Placement Warrants | 2 | $ | 980,000 | $ | 8,288,000 | |||||||
FPA (Asset) Liability | 3 | $ | (85,003 | ) | $ | 1,014,997 |
Description | Level | September 30, 2021 | December 31, 2020 | |||||||||||||
Assets: | ||||||||||||||||
Investments held in Trust Account | 1 | $ | 600,035,972 | $ | 600,008,617 | |||||||||||
Liabilities: | ||||||||||||||||
Warrant Liabilities — Public Warrants | 1 | $ | 19,500,000 | $ | 45,300,000 | |||||||||||
Warrant Liabilities — Private Placement Warrants | 2 | $ | 9,100,000 | $ | 21,140,000 | |||||||||||
FPA Liability | 3 | $ | 1,024,994 | $ | 8,483,278 |
September 30, 2021 | December 31, 2020 | |||||||
Risk-free interest rate | 0.05 | % | 0.10 | % | ||||
Time to expiration, in Years | 0.33 | 0.83 | ||||||
Unit price | $ | 10.10 | $ | 10.84 | ||||
Forward Price | $ | 10.00 | $ | 10.00 |
June 30, 2022 | December 31, 2021 | |||||||
Risk-free interest rate | 0.06 | % | 0.06 | % | ||||
Time to expiration, in Years | 0.25 | 0.25 | ||||||
Unit price | $ | 9.99 | $ | 10.10 | ||||
Forward Price | $ | 10.00 | $ | 10.00 |
FPA | ||||
Fair value as of December 31, 2020 | $ | 8,483,278 | ||
Change in fair value | (7,458,284 | ) | ||
Fair value as of September 30, 2021 | $ | 1,024,994 | ||
FPA | ||||
Fair value as of January 1, 2021 | $ | 8,483,278 | ||
Change in fair value | (5,054,119 | ) | ||
Fair value as of March 31, 2021 | 3,429,159 | |||
Change in fair value | (1,112,496 | ) | ||
Fair value as of June 30, 2021 | $ | 2,316,663 | ||
Fair value as of January 1, 2022 | $ | 1,014,997 | ||
Change in fair value | (985,006 | ) | ||
Fair value as of March 31, 2022 | 29,991 | |||
Change in fair value | (114,994 | ) | ||
Fair value as of June 30, 2022 | $ | (85,003 | ) | |
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 |
* | Filed herewith. |
** | Furnished. |
AVANTI ACQUISITION CORP. | ||||||
Date: | /s/ Nassef Sawiris | |||||
Name: | Nassef Sawiris | |||||
Title: | Chief Executive Officer | |||||
(Principal Executive Officer) | ||||||
/s/ Johann Dumas | ||||||
Name: | Johann Dumas | |||||
Title: | Chief Financial Officer | |||||
(Principal Financial Officer and Accounting Officer) |