UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
(Mark One)
x QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the quarterly period endedSeptember 30, 2019March 31, 2020
¨ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the transition period from _____ to ____
Commission File Number:001-15481
SANDSTON CORPORATION
(Exact name of small business issuer as specified in its charter)
Michigan | 38-2483796 |
(State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |
1496 Business Park Drive, Suite A, Traverse City, Michigan49868
(Address of principal executive offices) (Zip Code)
(248) 723-3007
(Issuer's telephone number, including area code)
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. ¨ YES xNO
Indicate by check mark if the issuer is not required to file reports pursuant to Section 13 or 15(d) of the Exchange Act ¨YES x NO
Indicate by check mark whether the issuer (1) has filed all reports required to be filed by section 13 or 15(d) of the Securities Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.x YES ¨ NO
Indicate by check mark whether the registrant has submitted electronically every Interactive Data file required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).xYES ¨ NO
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):
Large Accelerated Filer¨ | Accelerated Filer¨ |
Non- Accelerated Filerx | Smaller Reporting Companyx |
Emerging Growth Company¨ |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.¨
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).x Yes ¨ No
Securities registered pursuant to Section 12(b) of the Act:
Title of Each Class | Trading Symbol | Name of Each Exchange on Which Registered |
Common Stock, no par value | SDON | Over the Counter Bulletin board |
Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date: No par value Common Stock:
17,031,161
17,420,683 shares outstanding as of November 13, 2019
May 14, 2020
PART I -- FINANCIAL INFORMATION
Item 1. | Financial Statements |
Sandston Corporation
Condensed Balance Sheet
September 30, 2019March 31, 2020 and December 31, 20182019
March 31, | ||||||||||||||||
Sept. 30, 2019 | December 31, | 2020 | December 31, | |||||||||||||
(Unaudited) | 2018 | (Unaudited) | 2019 | |||||||||||||
Assets | ||||||||||||||||
Current assets: | ||||||||||||||||
Cash | $ | 197 | $ | 209 | $ | 197 | $ | 197 | ||||||||
Total assets | $ | 197 | $ | 209 | $ | 197 | $ | 197 | ||||||||
Liabilities and Stockholders’ Equity (Deficit) | ||||||||||||||||
Liabilities and Stockholders’ Equity | ||||||||||||||||
Current liabilities: | ||||||||||||||||
Accounts payable | $ | 26,245 | $ | 23,507 | $ | 22,206 | $ | 23,926 | ||||||||
Total current liabilities | 26,245 | 23,507 | 22,206 | 23,926 | ||||||||||||
Stockholders’ equity (deficit): | ||||||||||||||||
Common stock, no par value, 30,000,000 shares authorized, 17,031,161 shares outstanding at September 30, 2019 and 16,665,661 shares outstanding at December 31, 2018 | 33,965,869 | 33,951,249 | ||||||||||||||
Shareholders’ equity (deficit): | ||||||||||||||||
Common stock, no par value, 30,000,000 shares authorized, 17,420,683 shares issued and outstanding at March 31, 2020 and 17,195,683 shares issued and outstanding at December 31, 2019 | 33,984,738 | 33,971,238 | ||||||||||||||
Accumulated deficit | (33,991,917 | ) | (33,974,547 | ) | (34,006,747 | ) | (33,994,967 | ) | ||||||||
Total stockholders’ equity (deficit) | (26,048 | ) | (23,298 | ) | (22,009 | ) | (23,729 | ) | ||||||||
Total liabilities and stockholders’ equity (deficit) | $ | 197 | $ | 209 | $ | 197 | $ | 197 |
See notes to condensed financial statements.
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Sandston Corporation
Condensed Statements of Operations
For the Three- and Nine-MonthThree-Month Periods Ended September 30,March 31, 2020 and 2019 and 2018
Three Months Ended March 31, | ||||||||||||||||||||||||
Three Months Ended Sept. 30, | Nine Months Ended Sept. 30, | 2020 | 2019 | |||||||||||||||||||||
2019 | 2018 | 2019 | 2018 | (Unaudited) | (Unaudited) | |||||||||||||||||||
(Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | |||||||||||||||||||||
Net revenues | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||||
General and administrative expenses | 3,043 | 2,931 | 17,370 | 16,959 | 11,780 | 11,263 | ||||||||||||||||||
Loss before income taxes | (3,043 | ) | (2,931 | ) | (17,370 | ) | (16,959 | ) | ||||||||||||||||
Operating loss | (11,780 | ) | (11,263 | ) | ||||||||||||||||||||
Income taxes | - | - | - | - | - | - | ||||||||||||||||||
Net loss | $ | (3,043 | ) | $ | (2,931 | ) | $ | (17,370 | ) | $ | (16,959 | ) | $ | (11,780 | ) | $ | (11,263 | ) | ||||||
Loss per share amounts – basic and diluted (Note 2): | $ | - | $ | - | $ | - | $ | - | ||||||||||||||||
Weighted average shares outstanding – basic and diluted (Note 2): | 17,031,161 | 16,586,561 | 16,925,679 | 16,453,656 | ||||||||||||||||||||
Per share amounts – basic and diluted (Note 2) | nil | nil | ||||||||||||||||||||||
Weighted average shares outstanding - basic and diluted (Note 2) | 17,249,786 | 16,728,566 |
See notes to condensed financial statements.
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Sandston Corporation
Condensed Statements of Shareholders’ Equity
For the Three-Month Periods Ended March 31, 2020 and 2019
Common Stock | Accumulated | |||||||||||||||
Shares | Amount | Deficit | Total | |||||||||||||
(Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | |||||||||||||
Balance, January 1, 2020 | 17,195,683 | $ | 33,971,238 | (33,994,967 | ) | $ | (23,729 | ) | ||||||||
Sale of common stock | 225,000 | 13,500 | 13,500 | |||||||||||||
Net loss for the three months ended | ||||||||||||||||
March 31, 2020 | - | - | (11,780 | ) | (11,780 | ) | ||||||||||
Balance, March 31, 2020 | 17,420,683 | $ | 33,984,738 | $ | (34,006,747 | ) | $ | (22,009 | ) |
Common Stock | Accumulated | |||||||||||||||
Shares | Amount | Deficit | Total | |||||||||||||
(Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | |||||||||||||
Balance, January 1, 2019 | 16,665,661 | $ | 33,951,249 | (33,974,547 | ) | $ | (23,298 | ) | ||||||||
Sale of common stock | 314,525 | 12,581 | 12,581 | |||||||||||||
Net loss for the three months ended | ||||||||||||||||
March 31, 2019 | - | - | (11,263 | ) | (11,263 | ) | ||||||||||
Balance, March 31, 2019 | 16,980,186 | $ | 33,963,830 | $ | (33,985,810 | ) | $ | (21,980 | ) |
See notes to condensed financial statements.
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Sandston Corporation
Condensed Statements of Cash Flows
For the Nine-MonthThree-Month Periods Ended September 30,March 31, 2020 and 2019 and 2018
Nine Months Ended Sept. 30, | ||||||||
2019 | 2018 | |||||||
(Unaudited) | (Unaudited) | |||||||
Cash flows from operating activities: | ||||||||
Net loss | $ | (17,370 | ) | $ | (16,959 | ) | ||
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||||
Changes in assets and liabilities that provided (used) cash: | ||||||||
Accounts payable | 2,738 | 2,730 | ||||||
Net cash used in operating activities | (14,632 | ) | (14,229 | ) | ||||
Cash flows from financing activities - sale of common stock | 14,620 | 14,177 | ||||||
Net decrease in cash | (12 | ) | (52 | ) | ||||
Cash at beginning of period | 209 | 270 | ||||||
Cash at end of period | $ | 197 | $ | 218 | ||||
Supplemental disclosures of cash flow information: | ||||||||
Cash paid for interest | $ | - | $ | - | ||||
Cash paid for income taxes | - | - |
Three Months Ended March 31, | ||||||||
2020 | 2019 | |||||||
(Unaudited) | (Unaudited) | |||||||
Cash flows from operating activities: | ||||||||
Net loss | $ | (11,780 | ) | $ | (11,263 | ) | ||
Adjustments to reconcile net loss to net cash flows used in operating activities: | ||||||||
Changes in assets and liabilities that (used) cash: | ||||||||
Accounts payable | (1,720 | ) | (1,327 | ) | ||||
Net cash used in operating activities | (13,500 | ) | (12,590 | ) | ||||
Cash flows from financing activities - sale of common stock | 13,500 | 12,581 | ||||||
Net decrease in cash | - | (9 | ) | |||||
Cash at beginning of period | 197 | 209 | ||||||
Cash at end of period | $ | 197 | $ | 200 | ||||
Supplemental disclosures of cash flow information: | ||||||||
Cash paid for interest | $ | - | $ | - | ||||
Cash paid for income taxes | - | - |
See notes to condensed financial statements.
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Sandston Corporation
Condensed Statements of Shareholders’ Equity
For the Nine-Month Periods Ended September 30, 2019 and 2018
Common Stock | Accumulated | |||||||||||||||
Shares | Amount | Deficit | Total | |||||||||||||
(Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | |||||||||||||
Balance, January 1, 2019 | 16,665,661 | $ | 33,951,249 | (33,974,547 | ) | $ | (23,298 | ) | ||||||||
Sale of common stock | 314,525 | 12,581 | 12,581 | |||||||||||||
Net loss for the three months ended March 31, 2019 | - | - | (11,263 | ) | (11,263 | ) | ||||||||||
Balance, March 31, 2019 | 16,980,186 | 33,963,830 | (33,985,810 | ) | (21,980 | ) | ||||||||||
Sale of common stock | 50,975 | 2,039 | 2,039 | |||||||||||||
Net loss for the three months ended June 30, 2019 | - | - | (3,064 | ) | (3,064 | ) | ||||||||||
Balance, June 30, 2019 | 17,031,161 | 33,965,869 | (33,988,874 | ) | (23,005 | ) | ||||||||||
Net loss for the three months endedSeptember 30, 2019 | - | - | (3,043 | ) | (3,043 | ) | ||||||||||
Balance, September 30, 2019 | 17,031,161 | $ | 33,965,869 | $ | (33,991,917 | ) | $ | (26,048 | ) |
Common Stock | Accumulated | |||||||||||||||
Shares | Amount | Deficit | Total | |||||||||||||
(Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | |||||||||||||
Balance, January 1, 2018 | 16,141,303 | $ | 33,933,117 | (33,954,673 | ) | $ | (21,556 | ) | ||||||||
Sale of common stock | 363,333 | 10,900 | 10,900 | |||||||||||||
Net loss for the three months ended March 31, 2018 | - | - | (11,111 | ) | (11,111 | ) | ||||||||||
Balance, March 31, 2018 | 16,504,636 | 33,944,017 | (33,965,784 | ) | (21,767 | ) | ||||||||||
Sale of common stock | 81,925 | 3,277 | 3,277 | |||||||||||||
Net loss for the three months ended June 30, 2018 | - | - | (2,917 | ) | (2,917 | ) | ||||||||||
Balance, June 30, 2018 | 16,586,561 | 33,947,294 | (33,968,701 | ) | (21,407 | ) | ||||||||||
Net loss for the three months ended September 30, 2018 | - | - | (2,931 | ) | (2,931 | ) | ||||||||||
Balance, September 30, 2018 | 16,586,561 | $ | 33,947,294 | $ | (33,971,632 | ) | $ | (24,338 | ) |
See notes to condensed financial statements.
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Sandston Corporation
Notes to Condensed Financial Statements
For the Three- and Nine-MonthThree-Month Periods Ended September 30,March 31, 2020 and 2019 and 2018
Note 1 - Basis of Presentation
Pursuant to a recommendation of the Company’s Board of Directors and approval by its shareholders on January 13, 2004, the Company sold to NC Acquisition Corporation (the "Purchaser") on March 31, 2004 all of its tangible and intangible assets, including its real estate, accounts, equipment, intellectual property, inventory, subsidiaries, goodwill, and other intangibles, except for $30,000 in cash, (the "Net Asset Sale"). The Purchaser also assumed all of the Company’s liabilities pursuant to the Net Asset Sale. Following the Net Asset Sale, the Company’s only remaining assets were $30,000 in cash and it had no liabilities. It also retained no subsidiaries. On April 1, 2004 the Company amended its Articles of Incorporation to change its name from Nematron Corporation to Sandston Corporation (the “Company”) and to implement a shareholder approved one-for-five reverse stock split of the Company’s common stock, whereby every five issued and outstanding shares of the Company’s common stock became one share. On April 1, 2004, the Company also sold a total of 5,248,257 post-split shares to Dorman Industries, LLC (“Dorman Industries”) for $50,000. On December 21, 2006, the Company sold 2,400,000 post-split shares to certain accredited investors for $120,000.
Dorman Industries is a Michigan Limited Liability Company wholly owned by Mr. Daniel J. Dorman, the Company’s Chairman of the Board, President and Principal Accounting Officer. Pursuant to its purchase of these shares, Dorman Industries became the owner of 62.50% of the then outstanding common stock of the Company. On December 21, 2006, the Company sold 2,400,000 post-split shares to two board members and Patricia A. Dorman, Mr. Dorman’s wife, for $120,000. From 2010 through 2019, theThe Company has made several subsequent sales of common stock to Dorman Industries in order to raise cash to pay operating expenses. Shares issuedBetween December 30, 2010 and proceeds are as follows:
Periods | Shares | Proceeds | ||||||
December 2006 | 2,400,000 | $ | 120,000 | |||||
December 2010 to December 2017 | 5,344,323 | 133,333 | ||||||
March, May, and October 2018 | 524,358 | 18,132 | ||||||
March, April and May 2019 | 365,500 | 14,620 | ||||||
Total | 8,634,181 | $ | 286,085 |
March 31, 2020, the Company sold to Dorman Industries isa total of 6,623,702 shares at per share prices equal to the closing price the day prior to each sale, and realized proceeds of $184,504. Dorman Industries currently the beneficial owner of 67.42% of the Company’s outstanding common stock. Mr. Dorman’s wife, is the beneficial owner of an additional 3.52%68.15% of the Company’s outstanding common stock.
Effective April 1, 2004, the Company became a "public shell" corporation.
The Company intends to build long-term shareholder value by acquiring and/or investing in and operating strategically positioned companies. The Company expects to target companies in multiple industry groups. The Company has yet to acquire, or enter into an agreement to acquire, any company or entity.
During the period prior to the Net Asset Sale, the Company’s businesses included 1) the design, manufacture, and marketing of environmentally ruggedized computers and computer displays known as industrial workstations; 2) the design, development and marketing of software for worldwide use in factory automation and control and in test and measurement environments; and 3) providing application engineering support to customers of its own and third parties’ products. These businesses were sold on March 31, 2004 to the Purchaser.
Liquidity and Management Plans
The Company became a "public shell" corporation on April 1, 2004 following the Net Asset Sale and since that date its operational activities have been limited to considering sundry and various acquisition opportunities, and its financial activities have been limited to administrative activities and incurring expenditures for accounting, legal, filing, printing, office and auditing services. These expenditures have been paid with the $30,000 cash retained from the businesses that were sold, from $50,000 of proceeds from the sale of common stock on April 1, 2004 to Dorman Industries, and from $286,085$120,000 of proceeds from the sale, of stock since that datethrough a private placement, to certain accredited investors includingof common stock in December 2006, and from $184,504 of proceeds from the sales, through private placements, of unregistered common stock to Dorman Industries.Industries in the years 2010 through March 31, 2020.
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As reflected in the accompanying balance sheet at September 30, 2019,March 31, 2020, cash totals $197. Based on such balance and management’s forecast of activity levels during the period that it may remain a “public shell” corporation, management believes that it will have to again sell through private placement a number of additional shares of common stock to generate sufficient cash to pay its current liabilities and its administrative expenses as such expenses become due in 20192020. If the Company has not identified and consummated an acquisition by that date, the Company will need to obtain additional funds to maintain its administrative activities as a public shell company. Management intends to obtain such administrative funds from Dorman Industries in the form of loans or through equity sales in an amount sufficient to sustain operations at their current level. Dorman Industries owns 67.42% of the Company’s outstanding common stock. There can be no assurance that Dorman Industries, which owns 68.15% of the Company’s outstanding stock, or any other party will advance needed funds on any terms. The Company has not identified as yet potential acquisition candidates, the acquisition of which would mean that the Company would cease being a “public shell” and begin operating activities.
In the opinion of management, all adjustments considered necessary for a fair presentation of the consolidated financial statements for the interim periods have been included. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to the Securities and Exchange Commission’s rules and regulations, although the Company believes that the disclosures are adequate to make the information presented not misleading. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s latest annual report on Form 10-K.Note 2 – Loss Per Share
The resultsLoss per share is calculated using the weighted average number of common shares outstanding during the operations for the three-periods presented. There are no outstanding dilutive stock options and nine-month periods ended September 30, 2019warrants; all outstanding stock options and 2018 are not necessarily indicative of the results to be expected for the full year. Additionally, sincewarrants were cancelled effective with the Net Asset Sale, which was effective April 1, 2004, the Company has had no revenue generating activities.
Note 2 – Earnings per Share
The weighted average shares outstanding have been used in computing basic loss per share for the three- and nine-month periods ended September 30, 2019 and 2018.Sale. The Company has no dilutive securities.
Item 2. | Management's Discussion and Analysis of Results of Operations |
Three Month Periods Ended March 31, 2020 and 2019
Readers should refer to a description of the Net Asset Sale described in Note 1 to the condensed financial statements included in this Form 10-Q. As described therein, the net assets and industrial controls businesses of the Company were sold effective as of the close of business on March 31, 2004. Since April 1, 2004, the Company has not engaged in any revenue generating activities, although it has considered various investment opportunities and it has incurred administrative expenses related to legal, accounting and administrative activities. The Company has had no employees since that date. The administrative activities of the Company are performed by the Chairman, who also serves as the CEO, President and Principal Financial Officer.
Three Month Periods Ended September 30, 2019 and 2018
Direct administrative expenses of the Company totaled $3,043$11,780 in the three month period ended March 31, 2020, an increase of $517 or 4.6% compared to $11,263 for the three month period ended September 30, 2019, anMarch 31, 2019. Such increase of $112 over the $2,931 of expenses incurredresulted from higher professional and printing/processing fees in the comparable 2018 period, as the administrative fees charged by its service providers in the 2019 period were largely comparable to the fees charged in the 2018 period.
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Nine Month Periods Ended September 30, 2019 and 2018
Direct administrative expenses of the Company totaled $17,370 for the nine month period ended September 30, 2019, and increase of $411 over the $16,959 of expenses incurred in the comparable 2018 period, as the administrative fees charged by its service providers in the 2019 period were largely comparable to the fees charged in the 2018current period.
Liquidity and Capital Resources
Primary sources of liquidity for the Company following the March 31, 2004 Net Asset Sale have been cash balances that have been used to pay administrative expenses. Operating expenses of the Company have been funded with a) $30,000 cash retained from the businesses that were sold, b) $50,000 of proceeds from the sale of common stock on April 1, 2004 to Dorman Industries, and c) $286,085$304,504 of proceeds from the sale of stock since that date to certain accredited investors, including Dorman Industries.
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As reflected in the accompanying balance sheet at September 30, 2019,March 31, 2020, cash totals $197. Based on such balance and management’s forecast of activity levels during the period that it may remain a “public shell” corporation, management believes that it will have to again sell through private placement a number of additional shares of common stock to generate sufficient cash to pay its current liabilities and its administrative expenses as such expenses become due in 2019.2020. If the Company has not identified and consummated an acquisition by that date, the Company will need to obtain additional funds to maintain its administrative activities as a public shell company. Management intends to obtain such administrative funds from Dorman Industries in the form of loans or through equity sales in an amount sufficient to sustain operations at their current level. Dorman Industries owns 67.42%68.15% of the Company’s outstanding common stock. There can be no assurance that Dorman Industries or any other party will advance needed funds on any terms. The Company has not identified as yet potential acquisition candidates, the acquisition of which would mean that the Company would cease being a “public shell” and begin operating activities.
While it is the Company's objective to ultimately be able to use the securities of the Company as a currency in the acquisition of portfolio businesses, the initial acquisitions of portfolio businesses may require the Company to be infused with additional capital thereby diluting the Company's shareholders, including Dorman Industries to the extent that it does not participate in the capital infusion.
Uncertainties Relating to Forward Looking Statements
"Item 2 - Management's Discussion and Analysis of Results of Operation" and other parts of this Form 10-Q contain certain "forward-looking statements" within the meaning of the Securities Act of 1934, as amended. While management of the Company believes any forward-looking statements it has made are reasonable, actual results could differ materially since the statements are based on current management expectations and are subject to risks and uncertainties. These risks and uncertainties include, but are not limited to the following :following:
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Item 3. | Quantitative and Qualitative Disclosures About Market Risk |
Not Applicable.
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Item 4. | Controls and Procedures |
(a) Evaluation of disclosure controls and procedures.
(a) | Evaluation of disclosure controls and procedures. |
As of the end of the period covered by this Quarterly Report on Form 10-Q, the Company performed an evaluation under the supervision of, and with the participation of, management, including our Chief Executive Officer and Chief Financial Officer, of the design and effectiveness of our disclosure controls and procedures (as defined in rules 13a-15(e) or 15d-15(e) under the Securities Exchange Act of 1934 (the “Exchange Act”)). Based upon that evaluation, our Chief Executive Officer and our Chief Financial Officer concluded that, as of the end of the period covered by this Quarterly Report, our disclosure controls and procedures were effective in the timely and accurate recording, processing, summarizing and reporting of material financial and non-financial information within the time periods specified within the Securities and Exchange Commission’s rules and forms. Our Chief Executive Officer and Chief Financial Officer also concluded that our disclosure controls and procedures were effective to ensure that information required to be disclosed in the reports that we file or submit under the Exchange Act is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, to allow timely discussions regarding required disclosure.
(b) Changes in internal controls.
(b) | Changes in internal controls. |
There have been no changes in our internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Securities Exchange Act of 1934, as amended) during the quarter ended September 30, 2019March 31, 2020 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
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PART II - OTHER INFORMATION
Item 6. | Exhibits and Reports on Form 10-Q |
Exhibits included herewith are set forth on the Index to Exhibits, which is incorporated herein by reference.
SIGNATURES
In accordance with the requirements of the Securities Exchange Act of 1934, the registrant has caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Sandston Corporation | ||
/s/ Daniel J. Dorman | ||
Date | President, CEO and Principal Financial Officer |
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INDEX TO EXHIBITS
Exhibit Number | Description of Exhibit | |
31.1 | Certification of the Principal Executive Officer Pursuant to Exchange Act Rules 13(A) – 14(A) or 15 (D) – 14 (A) as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 | |
31.2 | Certification of the Principal Financial Officer Pursuant to Exchange Act Rules 13(A) – 14(A) or 15(D) – 14 (A) as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 | |
32.1 | Certification of Chief Executive Officer Pursuant to 18 U.S.C. Sec. 1350 (Section 906 of the Sarbanes-Oxley Act of 2002) | |
32.2 | Certification of Chief Financial Officer Pursuant to 18 U.S.C. Sec. 1350 (Section 906 of the Sarbanes-Oxley Act of 2002) |
101.INS | XBRL Instance Document** |
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 |
** | Filed herewith. |
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