United states securities and exchange commission

Inherent Limitations over Internal Controls
The Company’s internal control over financial reporting is designed to provide reasonable assurance regarding the reliability of 
financial reporting and the preparation of financial statements for external purposes in accordance with U.S. generally accepted 
accounting principles (“GAAP”). The Company’s internal control over financial reporting includes those policies and procedures 
that: 
(i)
pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and 
dispositions of the Company’s assets;
(ii)
provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial 
statements in accordance with GAAP, and that the Company’s receipts and expenditures are being made only in 
accordance with authorizations of the Company’s management and directors; and
(iii)
provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or 
disposition of the Company’s assets that could have a material effect on the financial statements.
Management, including the Company’s Chief Executive Officer and Chief Financial Officer, does not expect that the Company’s 
internal controls will prevent or detect all errors and all fraud. A control system, no matter how well designed and operated, can 
provide only reasonable, not absolute, assurance that the objectives of the control system are met. Further, the design of a 
control system must reflect the fact that there are resource constraints, and the benefits of controls must be considered relative 
to their costs. Because of the inherent limitations in all control systems, no evaluation of internal controls can provide absolute 
assurance that all control issues and instances of fraud, if any, have been detected. Also, any evaluation of the effectiveness of 
controls in future periods are subject to the risk that those internal controls may become inadequate because of changes in 
business conditions, or that the degree of compliance with the policies or procedures may deteriorate.