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Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.70 456.90 Td (\(Exact name of registrant as specified in its charter\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 444.90 Td () Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 419.4 m 295.5 419.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317.5 419.4 m 562.5 419.4 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 156.35 424.08 Td (Nevada) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.00 424.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.30 424.08 Td (37-1530765) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.45 409.07 Td (\(Stateorotherjurisdictionof) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 112.30 399.07 Td (incorporationoror) Tj ET Q q 0 0 0 rg BT 187.65 399.07 Td (ganization\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.00 399.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.30 409.07 Td (\(I.R.S.Employer) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.25 399.07 Td (IdentificationNo.\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.90 Td () Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 335.4 m 294.5 335.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316.5 335.4 m 561.5 335.4 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 99.75 350.08 Td (480 N. Orlando ) Tj ET Q q 0 0 0 rg BT 167.54 350.08 Td (A) Tj ET Q q 0 0 0 rg BT 174.02 350.08 Td (venue, Suite 200) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 135.95 340.08 Td (W) Tj ET Q q 0 0 0 rg BT 145.77 340.08 Td (inter) Tj ET Q q 0 0 0 rg BT 166.14 340.08 Td ( Park, FL) Tj ET Q q 0 0 0 rg BT 206.97 340.08 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 297.00 340.08 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 426.00 340.08 Td (32789) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 100.10 326.66 Td (\(Address of principal executive offices\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.00 325.07 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 418.60 326.66 Td (\(Zip Code\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 296.90 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.30 284.90 Td (Registrant) Tj ET Q q 0 0 0 rg BT 211.18 284.90 Td (s telephone number) Tj ET Q q 0 0 0 rg BT 289.09 284.90 Td (, including area code: ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 382.67 284.90 Td (\(407\) 674-691) Tj ET Q q 0 0 0 rg BT 439.60 284.90 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 272.90 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (Indicate by check mark whether the registrant: \(1\) has filed all reports required to be filed by ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 239.30 Td (tion 13 or 15\(d\) of the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 206.96 239.30 Td (Act of 1934 during the preceding 12 months \(or for such shorter period that the registrant was ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 228.50 Td (required to file such reports\), and \(2\) has been subject to such filing requirements for the past 90 days.) 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Tj ET Q q 0 0 0 rg BT 372.58 185.30 Td (Y) Tj ET Q q 0 0 0 rg BT 378.18 185.30 Td (es ) Tj ET Q /GS0 gs q 9.54 0 0 9.18 390.18 183.36 cm /I5 Do Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 399.72 185.30 Td ( No ) Tj ET Q /GS0 gs q 8.02 0 0 9.18 424.22 183.36 cm /I6 Do Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 174.50 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 163.70 Td (Indicate by check mark whether the registrant is a lar) Tj ET Q q 0 0 0 rg BT 241.00 163.70 Td (ge accelerated filer) Tj ET Q q 0 0 0 rg BT 309.09 163.70 Td (, an accelerated filer) Tj ET Q q 0 0 0 rg BT 381.67 163.70 Td (, a non-accelerated filer) Tj ET Q q 0 0 0 rg BT 466.25 163.70 Td (, or a smaller reporting ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 152.90 Td (company) Tj ET Q q 0 0 0 rg BT 82.41 152.90 Td (. See the definitions of lar) Tj ET Q q 0 0 0 rg BT 179.21 152.90 Td (ge accelerated filer) Tj ET Q q 0 0 0 rg BT 247.30 152.90 Td (, accelerated filer and smaller reporting company in Rule 12b-2 of the Exchange ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (Act.) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 122.06 Td (Lar) Tj ET Q q 0 0 0 rg BT 65.33 122.06 Td (geacceleratedfiler ) Tj ET Q /GS0 gs q 8.02 0 0 9.18 138.27 120.12 cm /I7 Do Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 196.00 122.86 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 431.00 122.06 Td (Acceleratedfiler ) Tj ET Q /GS0 gs q 8.02 0 0 9.18 495.71 120.12 cm /I8 Do Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 108.06 Td (Non-acceleratedfiler ) Tj ET Q /GS0 gs q 8.02 0 0 9.18 133.70 106.12 cm /I9 Do Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 196.00 108.86 Td (\(Donotcheckifasmallerreportingcompany\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 431.00 108.06 Td (Smallerreportingcompany ) Tj ET Q /GS0 gs q 9.54 0 0 9.18 531.72 106.12 cm /I10 Do Q BT /F1 10.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 93.30 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 82.50 Td (Indicate by check mark whether the registrant is a shell company \(as defined in Rule 12b-2 of the Exchange ) Tj ET Q q 0 0 0 rg BT 440.12 82.50 Td (Act. ) Tj ET Q q 0 0 0 rg BT 459.53 82.50 Td (Y) Tj ET Q q 0 0 0 rg BT 465.13 82.50 Td (es ) Tj ET Q /GS0 gs q 8.02 0 0 9.18 481.62 80.56 cm /I11 Do Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 489.64 82.50 Td ( No ) Tj ET Q /GS0 gs q 9.54 0 0 9.18 514.14 80.56 cm /I12 Do Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 60.90 Td () Tj ET Q q 0 0 0 rg BT 51.75 60.90 Td (As ) Tj ET Q q 0 0 0 rg BT 64.01 60.90 Td (of ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 73.75 60.90 Td (November6, ) Tj ET Q q 0 0 0 rg BT 122.99 60.90 Td (2015) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 140.99 60.90 Td (, ) Tj ET Q q 0 0 0 rg BT 145.49 60.90 Td (there ) Tj ET Q q 0 0 0 rg BT 165.73 60.90 Td (were ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 185.46 60.90 Td (104,002,308) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 230.46 60.90 Td ( ) Tj ET Q q 0 0 0 rg BT 232.71 60.90 Td (shares ) Tj ET Q q 0 0 0 rg BT 257.45 60.90 Td (of ) Tj ET Q q 0 0 0 rg BT 267.20 60.90 Td (our ) Tj ET Q q 0 0 0 rg BT 281.45 60.90 Td (common ) Tj ET Q q 0 0 0 rg BT 315.19 60.90 Td (stockoutstanding.) Tj ET Q endstream endobj 5 0 obj <><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><>] /Rotate 0 /Contents 6 0 R>> endobj 6 0 obj <> stream BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 772.93359375 m 106.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.05 730.10 Td (Quarterly Report on Form 10-Q for the period ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.60 730.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.87 730.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.50 706.10 Td (T) Tj ET Q q 0 0 0 rg BT 275.91 706.10 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 627.60 476.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.50 627.60 36.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 599.60 476.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.50 599.60 36.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 560.60 476.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.50 560.60 36.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 510.60 476.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.50 510.60 36.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 482.60 476.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.50 482.60 36.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 454.60 476.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.50 454.60 36.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 426.60 476.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.50 426.60 36.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 398.60 476.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.50 398.60 36.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 370.60 476.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.50 370.60 36.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 342.60 476.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.50 342.60 36.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 314.60 476.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.50 314.60 36.00 -14.00 re f /GS0 gs BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 632.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.25 632.27 Td (Page) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 616.8333984375 m 215.099609375 616.8333984375 l s q 0 0 1 rg BT 53.00 618.17 Td (P) Tj ET Q q 0 0 1 rg BT 57.64 618.17 Td (AR) Tj ET Q q 0 0 1 rg BT 70.93 618.17 Td (T) Tj ET Q q 0 0 1 rg BT 76.86 618.17 Td ( I. FINANCIAL) Tj ET Q q 0 0 1 rg BT 143.71 618.17 Td ( INFORMA) Tj ET Q q 0 0 1 rg BT 191.22 618.17 Td (TION) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 71 602.8333984375 m 195.4189453125 602.8333984375 l s q 0 0 1 rg BT 71.00 604.17 Td (Item 1. Financial Statements) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 101 588.8333984375 m 468.1240234375 588.8333984375 l s q 0 0 1 rg BT 101.00 590.17 Td (Consolidated Balance Sheets as of September 30, 2015 \(unaudited\) and December 31, 2014) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 101 573.9333984375 m 510.6240234375 573.9333984375 l s q 0 0 1 rg BT 101.00 575.27 Td (Unaudited Consolidated Statements of Operations for the three and nine months ended September 30, ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 101 563.9333984375 m 160.4384765625 563.9333984375 l s q 0 0 1 rg BT 101.00 565.27 Td (2015 and 2014) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 101 548.9333984375 m 507.4013671875 548.9333984375 l s q 0 0 1 rg BT 101.00 550.27 Td (Unaudited Consolidated Statement of Stockholders) Tj ET Q q 0 0 1 rg BT 308.55 550.27 Td ( Equity for the nine months ended September 30, ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 101 538.9333984375 m 121 538.9333984375 l s q 0 0 1 rg BT 101.00 540.27 Td (2015) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 101 523.9333984375 m 513.71484375 523.9333984375 l s q 0 0 1 rg BT 101.00 525.27 Td (Unaudited Consolidated Statements of Cash Flows for the nine months ended September 30, 2015 and ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 101 513.9333984375 m 121 513.9333984375 l s q 0 0 1 rg BT 101.00 515.27 Td (2014) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 101 499.8333984375 m 334.84765625 499.8333984375 l s q 0 0 1 rg BT 101.00 501.17 Td (Notes to the Unaudited Consolidated Financial Statements) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 71 485.8333984375 m 470.1162109375 485.8333984375 l s q 0 0 1 rg BT 71.00 487.17 Td (Item 2. Management) Tj ET Q q 0 0 1 rg BT 166.81 487.17 Td (s Discussion and ) Tj ET Q q 0 0 1 rg BT 235.98 487.17 Td (Analysis of Financial Condition and Results of Operations) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 71 471.8333984375 m 353.4462890625 471.8333984375 l s q 0 0 1 rg BT 71.00 473.17 Td (Item 3. Quantitative and Qualitative Disclosures ) Tj ET Q q 0 0 1 rg BT 276.23 473.17 Td (About Market Risk) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 71 457.8333984375 m 210.140625 457.8333984375 l s q 0 0 1 rg BT 71.00 459.17 Td (Item 4. Controls and Procedures) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 429.8333984375 m 198.244140625 429.8333984375 l s q 0 0 1 rg BT 53.00 431.17 Td (P) Tj ET Q q 0 0 1 rg BT 57.64 431.17 Td (AR) Tj ET Q q 0 0 1 rg BT 70.93 431.17 Td (T) Tj ET Q q 0 0 1 rg BT 76.86 431.17 Td ( II. OTHER INFORMA) Tj ET Q q 0 0 1 rg BT 174.36 431.17 Td (TION) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 71 415.8333984375 m 185.9658203125 415.8333984375 l s q 0 0 1 rg BT 71.00 417.17 Td (Item 1. Legal Proceedings) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 71 401.8333984375 m 161.8251953125 401.8333984375 l s q 0 0 1 rg BT 71.00 403.17 Td (Item 1A. Risk Factors) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 71 387.8333984375 m 353.4267578125 387.8333984375 l s q 0 0 1 rg BT 71.00 389.17 Td (Item 2. Unregistered Sales of Equity Securities and Use of Proceeds) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 71 373.8333984375 m 240.9658203125 373.8333984375 l s q 0 0 1 rg BT 71.00 375.17 Td (Item 3. Defaults Upon Senior Securities) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 71 359.8333984375 m 210.140625 359.8333984375 l s q 0 0 1 rg BT 71.00 361.17 Td (Item 4. Mine Safety Disclosures) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 71 345.8333984375 m 184.857421875 345.8333984375 l s q 0 0 1 rg BT 71.00 347.17 Td (Item 5. Other Information) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 71 331.8333984375 m 145.16015625 331.8333984375 l s q 0 0 1 rg BT 71.00 333.17 Td (Item 6. Exhibits) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 53 303.8333984375 m 95.216796875 303.8333984375 l s q 0 0 1 rg BT 53.00 305.17 Td (Signatures) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 529 588.8333984375 m 534 588.8333984375 l s q 0 0 1 rg BT 529.00 590.17 Td (1) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 529 563.9333984375 m 534 563.9333984375 l s q 0 0 1 rg BT 529.00 565.27 Td (2) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 529 538.9333984375 m 534 538.9333984375 l s q 0 0 1 rg BT 529.00 540.27 Td (3) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 529 513.9333984375 m 534 513.9333984375 l s q 0 0 1 rg BT 529.00 515.27 Td (4) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 529 499.8333984375 m 534 499.8333984375 l s q 0 0 1 rg BT 529.00 501.17 Td (5) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 529 485.8333984375 m 539 485.8333984375 l s q 0 0 1 rg BT 529.00 487.17 Td (20) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 529 471.8333984375 m 539 471.8333984375 l s q 0 0 1 rg BT 529.00 473.17 Td (31) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 529 457.8333984375 m 539 457.8333984375 l s q 0 0 1 rg BT 529.00 459.17 Td (32) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 529 415.8333984375 m 539 415.8333984375 l s q 0 0 1 rg BT 529.00 417.17 Td (33) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 529 401.8333984375 m 539 401.8333984375 l s q 0 0 1 rg BT 529.00 403.17 Td (33) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 529 387.8333984375 m 539 387.8333984375 l s q 0 0 1 rg BT 529.00 389.17 Td (34) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 529 373.8333984375 m 539 373.8333984375 l s q 0 0 1 rg BT 529.00 375.17 Td (34) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 529 359.8333984375 m 539 359.8333984375 l s q 0 0 1 rg BT 529.00 361.17 Td (34) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 529 345.8333984375 m 539 345.8333984375 l s q 0 0 1 rg BT 529.00 347.17 Td (34) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 529 331.8333984375 m 539 331.8333984375 l s q 0 0 1 rg BT 529.00 333.17 Td (35) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 529 303.8333984375 m 539 303.8333984375 l s q 0 0 1 rg BT 529.00 305.17 Td (37) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL endstream endobj 7 0 obj <>] /Rotate 0 /Contents 8 0 R>> endobj 8 0 obj <> stream BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 772.93359375 m 106.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 219.50 742.25 Td (P) Tj ET Q q 0 0 0 rg BT 224.87 742.25 Td (AR) Tj ET Q q 0 0 0 rg BT 238.96 742.25 Td (T) Tj ET Q q 0 0 0 rg BT 245.45 742.25 Td ( I - FINANCIAL) Tj ET Q q 0 0 0 rg BT 316.29 742.25 Td ( INFORMA) Tj ET Q q 0 0 0 rg BT 366.93 742.25 Td (TION) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 718.25 Td (ITEM 1 -FINANCIAL) Tj ET Q q 0 0 0 rg BT 148.62 718.25 Td ( ST) Tj ET Q q 0 0 0 rg BT 162.61 718.25 Td (A) Tj ET Q q 0 0 0 rg BT 169.09 718.25 Td (TEMENTS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.45 694.25 Td (IZEA, Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.95 682.25 Td (Consolidated Balance Sheets) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 633.75 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 633.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 633.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 633.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 605.75 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 605.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 605.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 605.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 577.75 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 577.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 577.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 577.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 549.75 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 549.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 549.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 549.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 525.75 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 525.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 525.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 525.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 469.75 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 469.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 469.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 469.75 65.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 647.75 m 428.5 647.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 647.75 m 493.5 647.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 647.75 m 497.5 647.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 647.75 m 562.5 647.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 549.75 m 428.5 549.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 535.75 m 428.5 535.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 549.75 m 493.5 549.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 535.75 m 493.5 535.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 549.75 m 497.5 549.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 535.75 m 497.5 535.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 549.75 m 562.5 549.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 535.75 m 562.5 535.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 455.75 m 428.5 455.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 455.75 m 493.5 455.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 455.75 m 497.5 455.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 455.75 m 562.5 455.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 442.75 m 428.5 442.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 440.75 m 428.5 440.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 442.75 m 493.5 442.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 440.75 m 493.5 440.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 442.75 m 497.5 442.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 440.75 m 497.5 440.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 442.75 m 562.5 442.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 440.75 m 562.5 440.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.60 662.32 Td (September 30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.50 652.32 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.45 662.32 Td (December 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.50 652.32 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.30 638.32 Td (\(Unaudited\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.90 624.32 Td (Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 610.32 Td (Current:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 610.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 610.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 596.32 Td (Cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 596.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.60 596.32 Td (13,273,048) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 596.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 596.32 Td (6,521,930) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 582.32 Td (Accounts receivable, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.65 582.32 Td (3,048,299) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 582.32 Td (2,156,378) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 568.32 Td (Prepaid expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 568.32 Td (745,426) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 568.32 Td (190,604) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 554.32 Td (Other current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 554.32 Td (13,317) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 554.32 Td (61,424) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 540.32 Td (Total current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.60 540.32 Td (17,080,090) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 540.32 Td (8,930,336) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 516.32 Td (Property and equipment, net of accumulated depreciation of $389,174 and $239,521) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 516.32 Td (595,549) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 516.32 Td (588,919) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 502.32 Td (Goodwill) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.65 502.32 Td (2,468,289) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 502.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 488.32 Td (Intangible assets, net of accumulated amortization of $395,333 and $0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.65 488.32 Td (1,974,667) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 488.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 474.32 Td (Software development costs, net of accumulated amortization of $171,185 and $85,331) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 474.32 Td (413,365) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 474.32 Td (483,544) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 460.32 Td (Security deposits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 460.32 Td (119,671) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 460.32 Td (100,641) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.00 446.32 Td (Total assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 446.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.60 446.32 Td (22,651,631) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 446.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.60 446.32 Td (10,103,440) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 416.75 378.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 416.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 416.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 416.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 386.75 378.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 386.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 386.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 386.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 356.75 378.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 356.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 356.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 356.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 326.75 378.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 326.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 326.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 326.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 296.75 378.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 296.75 65.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 296.75 4.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 296.75 65.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 271.75 378.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 271.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 271.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 271.75 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500.00 391.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 391.42 Td (310,611) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 376.42 Td (Accrued expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.65 376.42 Td (1,151,468) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 376.42 Td (394,617) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 361.42 Td (Unearned revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.65 361.42 Td (2,358,895) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 361.42 Td (1,767,074) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 346.42 Td (Current portion of deferred rent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 346.42 Td (10,772) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 346.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 331.42 Td (Current portion of capital lease obligations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 331.42 Td (15,602) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 331.42 Td (54,376) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 316.42 Td (Current portion of acquisition costs payable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 316.42 Td (833,227) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 316.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 301.42 Td (Total current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.65 301.42 Td (5,310,957) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 301.42 Td (2,526,678) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 261.42 Td (Deferred rent, less current portion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 261.42 Td (107,303) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 261.42 Td (106,531) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 246.42 Td (Capital lease obligations, less current portion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.65 246.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 246.42 Td (7,291) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 231.42 Td (Acquisition costs payable, less current portion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 231.42 Td (977,669) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 231.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 216.42 Td (Warrant liability) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 216.42 Td (10,780) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 216.42 Td (3,203,465) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 201.42 Td (Total liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.65 201.42 Td (6,406,709) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 201.42 Td (5,843,965) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 176.42 Td (Stockholders equity:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.00 176.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.00 176.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 161.42 Td (Common stock, $.0001 par value; 200,000,000 shares authorized; 104,002,308 and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 151.42 Td (57,697,666, respectively, issued and outstanding) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 151.42 Td (10,400) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 151.42 Td (5,770) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 136.42 Td (Additional paid-in capital) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.60 136.42 Td (48,077,162) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.60 136.42 Td (27,195,055) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 121.42 Td (Accumulated deficit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.30 121.47 Td (\(31,842,640) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 121.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.30 121.47 Td (\(22,941,350) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 121.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 106.42 Td (Total stockholders equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.60 106.42 Td (16,244,922) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 106.42 Td (4,259,475) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 81.42 Td (Total liabilities and stockholders equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 81.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.60 81.42 Td (22,651,631) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 81.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.60 81.42 Td (10,103,440) Tj ET Q BT /F1 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 153.65 53.25 Td (See accompanying notes to the unaudited consolidated financial statements.) 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1 rg /GS0 gs 502.50 462.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 432.60 260.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 432.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.50 432.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.50 432.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 432.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 432.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 432.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 432.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 407.60 260.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 407.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.50 407.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.50 407.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 407.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 407.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 407.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 407.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 372.60 260.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 372.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.50 372.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.50 372.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 372.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 372.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 372.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 372.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 342.60 260.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 342.60 60.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.50 342.60 4.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.50 342.60 60.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 342.60 4.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 342.60 60.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 342.60 4.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 342.60 60.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 317.60 260.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.50 317.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.50 317.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.50 317.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.50 317.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.50 317.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.50 317.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 317.60 60.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 682.6 m 370.5 682.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 682.6 m 374.5 682.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 682.6 m 434.5 682.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 682.6 m 498.5 682.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 682.6 m 502.5 682.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 682.6 m 562.5 682.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 667.6 m 310.5 667.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 667.6 m 370.5 667.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 667.6 m 374.5 667.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 667.6 m 434.5 667.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 667.6 m 438.5 667.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 667.6 m 498.5 667.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 667.6 m 502.5 667.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 667.6 m 562.5 667.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 627.6 m 310.5 627.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 612.6 m 310.5 612.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 627.6 m 370.5 627.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 612.6 m 370.5 612.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 627.6 m 374.5 627.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 612.6 m 374.5 612.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 627.6 m 434.5 627.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 612.6 m 434.5 612.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 627.6 m 438.5 627.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 612.6 m 438.5 612.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 627.6 m 498.5 627.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 612.6 m 498.5 612.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 627.6 m 502.5 627.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 612.6 m 502.5 612.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 627.6 m 562.5 627.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 612.6 m 562.5 612.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 557.6 m 310.5 557.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 542.6 m 310.5 542.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 557.6 m 370.5 557.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 542.6 m 370.5 542.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 557.6 m 374.5 557.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 542.6 m 374.5 542.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 557.6 m 434.5 557.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 542.6 m 434.5 542.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 557.6 m 438.5 557.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 542.6 m 438.5 542.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 557.6 m 498.5 557.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 542.6 m 498.5 542.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 557.6 m 502.5 557.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 542.6 m 502.5 542.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 557.6 m 562.5 557.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 542.6 m 562.5 542.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 432.6 m 310.5 432.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 417.6 m 310.5 417.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 432.6 m 370.5 432.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 417.6 m 370.5 417.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 432.6 m 374.5 432.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 417.6 m 374.5 417.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 432.6 m 434.5 432.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 417.6 m 434.5 417.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 432.6 m 438.5 432.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 417.6 m 438.5 417.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 432.6 m 498.5 432.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 417.6 m 498.5 417.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 432.6 m 502.5 432.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 417.6 m 502.5 417.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 432.6 m 562.5 432.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 417.6 m 562.5 417.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 393.6 m 310.5 393.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 391.6 m 310.5 391.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 393.6 m 370.5 393.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 391.6 m 370.5 391.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 393.6 m 374.5 393.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 391.6 m 374.5 391.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 393.6 m 434.5 393.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 391.6 m 434.5 391.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 393.6 m 438.5 393.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 391.6 m 438.5 391.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 393.6 m 498.5 393.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 391.6 m 498.5 391.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 393.6 m 502.5 393.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 391.6 m 502.5 391.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 393.6 m 562.5 393.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 391.6 m 562.5 391.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 358.6 m 310.5 358.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 356.6 m 310.5 356.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 358.6 m 370.5 358.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 356.6 m 370.5 356.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 358.6 m 374.5 358.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 356.6 m 374.5 356.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 358.6 m 434.5 358.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 356.6 m 434.5 356.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 358.6 m 438.5 358.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 356.6 m 438.5 356.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 358.6 m 498.5 358.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 356.6 m 498.5 356.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 358.6 m 502.5 358.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 356.6 m 502.5 356.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 358.6 m 562.5 358.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 356.6 m 562.5 356.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 343.6 m 310.5 343.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 341.6 m 310.5 341.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 343.6 m 370.5 343.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 341.6 m 370.5 341.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 343.6 m 374.5 343.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 341.6 m 374.5 341.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 343.6 m 434.5 343.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 341.6 m 434.5 341.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 343.6 m 438.5 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316.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 318.6 m 434.5 318.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 316.6 m 434.5 316.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 318.6 m 438.5 318.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 316.6 m 438.5 316.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 318.6 m 498.5 318.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 316.6 m 498.5 316.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 318.6 m 502.5 318.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 316.6 m 502.5 316.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 318.6 m 562.5 318.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 316.6 m 562.5 316.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 303.6 m 310.5 303.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 301.6 m 310.5 301.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 303.6 m 370.5 303.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 310.5 301.6 m 370.5 301.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 303.6 m 374.5 303.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370.5 301.6 m 374.5 301.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 303.6 m 434.5 303.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374.5 301.6 m 434.5 301.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 303.6 m 438.5 303.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434.5 301.6 m 438.5 301.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 303.6 m 498.5 303.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438.5 301.6 m 498.5 301.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 303.6 m 502.5 303.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 301.6 m 502.5 301.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 303.6 m 562.5 303.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 301.6 m 562.5 301.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 687.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.75 697.27 Td (Three Months Ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.10 687.27 Td (September 30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.70 697.27 Td (Nine Months Ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.10 687.27 Td (September 30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.00 672.27 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.00 672.27 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.00 672.27 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.00 672.27 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 647.27 Td (Revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.00 647.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.60 647.27 Td (5,442,457) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.00 647.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.60 647.27 Td (1,931,671) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.00 647.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.60 647.27 Td (14,205,693) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 647.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.60 647.27 Td (5,857,946) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 632.27 Td (Cost of sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.60 632.27 Td (3,290,457) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.15 632.27 Td (692,217) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.60 632.27 Td (8,649,308) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.60 632.27 Td (1,998,406) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 617.27 Td (Gross profit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.60 618.17 Td (2,152,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.60 617.27 Td (1,239,454) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.60 617.27 Td (5,556,385) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.60 617.27 Td (3,859,540) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 592.27 Td (Operating expenses:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 592.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.00 592.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 577.27 Td (General and administrative) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.60 577.27 Td (1,056,473) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.60 577.27 Td (1,287,048) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.60 577.27 Td (5,081,367) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.60 577.27 Td (3,600,621) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 562.27 Td (Sales and marketing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.60 562.27 Td (1,982,088) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.60 562.27 Td (1,515,139) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.60 562.27 Td (5,310,124) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.60 562.27 Td (3,726,370) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 547.27 Td (Total operating expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.60 547.27 Td (3,038,561) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.60 547.27 Td (2,802,187) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.60 547.27 Td (10,391,491) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.60 547.27 Td (7,326,991) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 522.27 Td (Loss from operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.80 522.32 Td (\(886,561) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.65 522.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.30 522.32 Td (\(1,562,733) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.65 522.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.30 522.32 Td (\(4,835,106) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 522.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.30 522.32 Td (\(3,467,451) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 522.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 497.27 Td (Other income \(expense\):) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.00 497.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.00 497.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 482.27 Td (Interest expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.80 482.32 Td (\(31,191) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.65 482.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.80 482.32 Td (\(5,519) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.65 482.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.80 482.32 Td (\(86,354) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 482.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 482.32 Td (\(20,587) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 482.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 467.27 Td (Loss on exchange of warrants) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.30 467.32 Td (\(1,845,810) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.65 467.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.65 467.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.30 467.32 Td (\(1,845,810) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 467.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 467.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 452.27 Td (Change in fair value of derivatives, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.15 452.27 Td (115,904) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.60 452.27 Td (2,250,344) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.30 452.32 Td (\(2,139,540) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 452.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.60 452.27 Td (5,625,555) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 437.27 Td (Other income, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.15 437.27 Td (2,571) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.15 437.27 Td (3,278) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.15 437.27 Td (5,520) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 437.27 Td (7,677) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 422.27 Td (Total other income \(expense\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.30 422.32 Td (\(1,758,526) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.65 422.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.60 422.27 Td (2,248,103) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.30 422.32 Td (\(4,066,184) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 422.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.60 422.27 Td (5,612,645) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 397.27 Td (Net income \(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.00 397.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.30 397.32 Td (\(2,645,087) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.65 397.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.00 397.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.15 397.27 Td (685,370) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.00 397.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.30 397.32 Td (\(8,901,290) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 397.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 397.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.60 397.27 Td (2,145,194) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 362.27 Td (Weighted average common shares outstanding basic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.60 362.27 Td (81,512,092) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.60 362.27 Td (57,350,743) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.60 362.27 Td (65,728,626) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.60 362.27 Td (50,584,635) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 347.27 Td (Basic income \(loss\) per common share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.00 347.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.80 347.32 Td (\(0.03) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.65 347.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.00 347.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.15 347.27 Td (0.01) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.00 347.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.80 347.32 Td (\(0.14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 347.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 347.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 347.27 Td (0.04) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 322.27 Td (Weighted average common shares outstanding diluted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.60 322.27 Td (81,512,092) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.60 322.27 Td (69,428,993) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.60 322.27 Td (65,728,626) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.60 322.27 Td (63,663,192) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 307.27 Td (Diluted income \(loss\) per common share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.00 307.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.80 307.32 Td (\(0.03) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.65 307.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.00 307.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.15 307.27 Td (0.01) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.00 307.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.80 307.32 Td (\(0.14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.65 307.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.00 307.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.15 307.27 Td (0.03) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 291.10 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 153.65 63.10 Td (See accompanying notes to the unaudited consolidated financial statements.) Tj ET Q endstream endobj 11 0 obj <>] /Rotate 0 /Contents 12 0 R>> endobj 12 0 obj <> stream BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 772.93359375 m 106.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.45 742.10 Td (IZEA, Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 187.60 730.10 Td (Unaudited Consolidated Statement of Stockholders) Tj ET Q q 0 0 0 rg BT 395.15 730.10 Td ( Equity) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 640.60 235.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.50 640.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.50 640.60 54.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 342.50 640.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 640.60 41.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 640.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 640.60 54.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.50 640.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.50 640.60 54.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 640.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 640.60 54.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 612.60 235.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.50 612.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.50 612.60 54.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 342.50 612.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.50 612.60 41.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 612.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.50 612.60 54.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.50 612.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.50 612.60 54.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.50 612.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.50 612.60 54.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 584.60 235.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.50 584.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 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Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.20 730.10 Td (Unaudited Consolidated Statements of Cash Flows) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 666.60 352.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 666.60 78.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 666.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 666.60 78.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 638.60 352.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 638.60 78.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 638.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 638.60 78.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 610.60 352.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 610.60 78.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 610.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 610.60 78.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 582.60 352.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 582.60 78.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 582.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 582.60 78.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 554.60 352.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 554.60 78.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 554.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 554.60 78.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 526.60 352.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 526.60 78.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 526.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 526.60 78.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 498.60 352.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 498.60 78.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 498.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 498.60 78.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 470.60 352.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 470.60 78.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 470.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 470.60 78.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 442.60 352.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 442.60 78.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 442.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 442.60 78.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 414.60 352.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 414.60 78.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 414.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 414.60 78.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 392.60 352.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 392.60 78.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 392.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 392.60 78.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 364.60 352.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 364.60 78.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 364.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 364.60 78.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 336.60 352.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 336.60 78.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 336.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 336.60 78.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 308.60 352.00 -8.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 308.60 78.00 -8.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 308.60 4.00 -8.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 308.60 78.00 -8.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 286.60 352.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 286.60 78.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 286.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 286.60 78.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 258.60 352.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 258.60 78.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 258.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 258.60 78.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 230.60 352.00 -8.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 230.60 78.00 -8.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 230.60 4.00 -8.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 230.60 78.00 -8.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 208.60 352.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 208.60 78.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 208.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 208.60 78.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 186.60 352.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 186.60 78.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 186.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 186.60 78.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 160.60 352.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 160.60 78.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 160.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 160.60 78.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 136.60 352.00 -8.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 136.60 78.00 -8.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 136.60 4.00 -8.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 136.60 78.00 -8.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 116.60 352.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 116.60 78.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 116.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 116.60 78.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 92.60 352.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 92.60 78.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 92.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 92.60 78.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 68.60 352.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 68.60 78.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 68.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 68.60 78.00 -12.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 694.6 m 479.5 694.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 694.6 m 483.5 694.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 694.6 m 561.5 694.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 680.6 m 401.5 680.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 694.6 m 479.5 694.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 680.6 m 479.5 680.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 680.6 m 483.5 680.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 680.6 m 561.5 680.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 414.6 m 401.5 414.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 414.6 m 479.5 414.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 414.6 m 483.5 414.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 414.6 m 561.5 414.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 400.6 m 401.5 400.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 400.6 m 479.5 400.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 400.6 m 483.5 400.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 400.6 m 561.5 400.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 322.6 m 479.5 322.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 322.6 m 561.5 322.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 322.6 m 401.5 322.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 308.6 m 401.5 308.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 322.6 m 479.5 322.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 308.6 m 479.5 308.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 322.6 m 483.5 322.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 308.6 m 483.5 308.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 322.6 m 561.5 322.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 308.6 m 561.5 308.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 244.60000000000002 m 401.5 244.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 244.60000000000002 m 479.5 244.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 244.60000000000002 m 483.5 244.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 244.60000000000002 m 561.5 244.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 230.60000000000002 m 401.5 230.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 230.60000000000002 m 479.5 230.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 230.60000000000002 m 483.5 230.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 230.60000000000002 m 561.5 230.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 194.60000000000002 m 401.5 194.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 194.60000000000002 m 479.5 194.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 194.60000000000002 m 483.5 194.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 194.60000000000002 m 561.5 194.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 173.60000000000002 m 401.5 173.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 171.60000000000002 m 401.5 171.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 173.60000000000002 m 479.5 173.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 171.60000000000002 m 479.5 171.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 173.60000000000002 m 483.5 173.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 171.60000000000002 m 483.5 171.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 173.60000000000002 m 561.5 173.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 171.60000000000002 m 561.5 171.60000000000002 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.70 709.27 Td (Nine Months Ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.10 699.27 Td (September 30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 685.17 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.00 685.17 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 671.17 Td (Cash flows from operating activities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.00 671.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.00 671.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 657.17 Td (Net income \(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.00 657.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.30 657.22 Td (\(8,901,290) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.65 657.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.00 657.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 657.17 Td (2,145,194) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 643.17 Td (Adjustments to reconcile net income \(loss\) to net cash used for operating activities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.00 643.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.00 643.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 629.17 Td (Depreciation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.15 629.17 Td (149,873) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 629.17 Td (65,683) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 615.17 Td (Amortization of software development costs and other intangible assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.15 615.17 Td (481,187) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 615.17 Td (103,529) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 601.17 Td (Loss on disposal of equipment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.65 601.17 Td (595) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 601.17 Td (16,192) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 587.17 Td (Provision for losses on accounts receivable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.15 587.17 Td (36,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 587.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 573.17 Td (Stock-based compensation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.15 573.17 Td (511,202) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 573.17 Td (389,002) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 559.17 Td (Value of stock and warrants issued or to be issued for payment of services) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.15 559.17 Td (136,592) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 559.17 Td (147,860) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 545.17 Td (Gain on change in value of contingent acquisition costs payable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.30 545.22 Td (\(1,734,300) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.65 545.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 545.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 531.17 Td (Loss on exchange of warrants) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.65 531.17 Td (1,845,810) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 531.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 517.17 Td (Change in fair value of derivatives, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.65 517.17 Td (2,139,540) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.30 517.22 Td (\(5,625,555) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 517.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 503.17 Td (Cash provided by \(used for\):) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.00 503.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.00 503.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.00 489.17 Td (Accounts receivable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.80 489.22 Td (\(611,400) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.65 489.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 489.17 Td (183,968) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.00 475.17 Td (Prepaid expenses and other current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.80 475.22 Td (\(465,191) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.65 475.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.80 475.22 Td (\(454,839) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 475.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.00 461.17 Td (Accounts payable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.15 461.17 Td (87,043) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.80 461.22 Td (\(174,386) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 461.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.00 447.17 Td (Accrued expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.15 447.17 Td (726,643) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 447.17 Td (30,326) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.00 433.17 Td (Unearned revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.15 433.17 Td (557,927) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.80 433.22 Td (\(156,156) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 433.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.00 419.17 Td (Deferred rent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.15 419.17 Td (1,644) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 419.17 Td (60,508) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 405.17 Td (Net cash used for operating activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.30 405.22 Td (\(5,038,125) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.65 405.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.30 405.22 Td 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BT 486.00 107.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.65 107.22 Td (12,382,216) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 95.22 Td (Acquisition costs payable for assets acquired) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.00 95.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.65 95.22 Td (3,942,639) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.00 95.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 95.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 83.22 Td (Acquisition costs paid through issuance of common stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.00 83.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.15 83.22 Td (250,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.00 83.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 83.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 71.22 Td (Fair value of warrants reclassified from liability to equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.00 71.22 Td ($) Tj ET Q 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(required ) Tj ET Q q 0 0 0 rg BT 412.61 599.10 Td (by ) Tj ET Q q 0 0 0 rg BT 424.91 599.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 444.98 599.10 Td (GAAP) Tj ET Q q 0 0 0 rg BT 471.84 599.10 Td ( ) Tj ET Q q 0 0 0 rg BT 474.13 599.10 Td (for ) Tj ET Q q 0 0 0 rg BT 488.08 599.10 Td (complete ) Tj ET Q q 0 0 0 rg BT 527.03 599.10 Td (financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 587.10 Td (statements. ) Tj ET Q q 0 0 0 rg BT 97.03 587.10 Td ( ) Tj ET Q q 0 0 0 rg BT 99.35 587.10 Td (Operating ) Tj ET Q q 0 0 0 rg BT 141.66 587.10 Td (results ) Tj ET Q q 0 0 0 rg BT 170.09 587.10 Td (for ) Tj ET Q q 0 0 0 rg BT 184.07 587.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.61 587.10 Td (nine ) Tj ET Q q 0 0 0 rg BT 218.15 587.10 Td (months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.59 587.10 Td ( ) Tj ET Q q 0 0 0 rg BT 249.91 587.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.11 587.10 Td (September30, ) Tj ET Q q 0 0 0 rg BT 336.20 587.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.20 587.10 Td ( ) Tj ET Q q 0 0 0 rg BT 358.52 587.10 Td (are ) Tj ET Q q 0 0 0 rg BT 373.04 587.10 Td (not ) Tj ET Q q 0 0 0 rg BT 388.14 587.10 Td (necessarily ) Tj ET Q q 0 0 0 rg BT 434.89 587.10 Td (indicative ) Tj ET Q q 0 0 0 rg BT 476.64 587.10 Td (of ) Tj ET Q q 0 0 0 rg BT 487.29 587.10 Td (results ) Tj ET Q q 0 0 0 rg BT 515.72 587.10 Td (that ) Tj ET Q q 0 0 0 rg BT 533.03 587.10 Td (may ) Tj ET Q q 0 0 0 rg BT 552.57 587.10 Td (be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 575.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 89.06 575.10 Td (for ) Tj ET Q q 0 0 0 rg BT 104.24 575.10 Td (the ) Tj ET Q q 0 0 0 rg BT 119.99 575.10 Td (entire ) Tj ET Q q 0 0 0 rg BT 146.27 575.10 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 171.46 575.10 Td (year) Tj ET Q q 0 0 0 rg BT 188.11 575.10 Td (. ) Tj ET Q q 0 0 0 rg BT 193.88 575.10 Td (These ) Tj ET Q q 0 0 0 rg BT 221.28 575.10 Td (unaudited ) Tj ET Q q 0 0 0 rg BT 264.24 575.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 318.31 575.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 356.82 575.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 402.55 575.10 Td (should ) Tj ET Q q 0 0 0 rg BT 432.75 575.10 Td (be ) Tj ET Q q 0 0 0 rg BT 445.71 575.10 Td (read ) Tj ET Q q 0 0 0 rg BT 466.44 575.10 Td (in ) Tj ET Q q 0 0 0 rg BT 477.75 575.10 Td (conjunction ) Tj ET Q q 0 0 0 rg BT 528.49 575.10 Td (with ) Tj ET Q q 0 0 0 rg BT 549.79 575.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 563.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 102.32 563.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 139.08 563.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 183.07 563.10 Td (and ) Tj ET Q q 0 0 0 rg BT 199.28 563.10 Td (notes ) Tj ET Q q 0 0 0 rg BT 222.17 563.10 Td (thereto ) Tj ET Q q 0 0 0 rg BT 251.71 563.10 Td (for ) Tj ET Q q 0 0 0 rg BT 265.15 563.10 Td (the ) Tj ET Q q 0 0 0 rg BT 279.14 563.10 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 302.57 563.10 Td (year ) Tj ET Q q 0 0 0 rg BT 321.56 563.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.21 563.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 405.07 563.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.07 563.10 Td ( ) Tj ET Q q 0 0 0 rg BT 426.85 563.10 Td (included ) Tj ET Q q 0 0 0 rg BT 463.06 563.10 Td (in ) Tj ET Q q 0 0 0 rg BT 472.62 563.10 Td (the ) Tj ET Q q 0 0 0 rg BT 486.61 563.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 532.58 563.10 Td (Annual ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 551.10 Td (Report ) Tj ET Q q 0 0 0 rg BT 79.72 551.10 Td (on ) Tj ET Q q 0 0 0 rg BT 92.22 551.10 Td (Form ) Tj ET Q q 0 0 0 rg BT 116.39 551.10 Td (10-K ) Tj ET Q q 0 0 0 rg BT 139.44 551.10 Td (filed ) Tj ET Q q 0 0 0 rg BT 160.26 551.10 Td (with ) Tj ET Q q 0 0 0 rg BT 180.54 551.10 Td (the ) Tj ET Q q 0 0 0 rg BT 195.26 551.10 Td (SEC ) Tj ET Q q 0 0 0 rg BT 216.10 551.10 Td (on ) Tj ET Q q 0 0 0 rg BT 228.60 551.10 Td (March ) Tj ET Q q 0 0 0 rg BT 257.20 551.10 Td (19, ) Tj ET Q q 0 0 0 rg BT 272.20 551.10 Td (2015.) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 50 525.53505859375 m 129.82421875 525.53505859375 l s q 0 0 0 rg BT 50.00 527.10 Td (Natur) Tj ET Q q 0 0 0 rg BT 75.37 527.10 Td (e ) Tj ET Q q 0 0 0 rg BT 82.31 527.10 Td (of ) Tj ET Q q 0 0 0 rg BT 93.14 527.10 Td (Business) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 515.10 Td (IZEA, ) Tj ET Q q 0 0 0 rg BT 78.73 515.10 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 97.46 515.10 Td (\(the ) Tj ET Q q 0 0 0 rg BT 116.47 515.10 Td ("Company"\) ) Tj ET Q q 0 0 0 rg BT 170.31 515.10 Td (was ) Tj ET Q q 0 0 0 rg BT 189.33 515.10 Td (founded ) Tj ET Q q 0 0 0 rg BT 225.56 515.10 Td (in ) Tj ET Q q 0 0 0 rg BT 236.80 515.10 Td (February ) Tj ET Q q 0 0 0 rg BT 276.36 515.10 Td (2006 ) Tj ET Q q 0 0 0 rg BT 299.82 515.10 Td (under ) Tj ET Q q 0 0 0 rg BT 326.05 515.10 Td (the ) Tj ET Q q 0 0 0 rg BT 341.73 515.10 Td (name ) Tj ET Q q 0 0 0 rg BT 366.85 515.10 Td (PayPerPost, ) Tj ET Q q 0 0 0 rg BT 418.37 515.10 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 437.10 515.10 Td (and ) Tj ET Q q 0 0 0 rg BT 455.00 515.10 Td (became ) Tj ET Q q 0 0 0 rg BT 488.99 515.10 Td (a ) Tj ET Q q 0 0 0 rg BT 496.89 515.10 Td (public ) Tj ET Q q 0 0 0 rg BT 525.35 515.10 Td (company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 503.10 Td (incorporated ) Tj ET Q q 0 0 0 rg BT 103.23 503.10 Td (in ) Tj ET Q q 0 0 0 rg BT 113.71 503.10 Td (the ) Tj ET Q q 0 0 0 rg BT 128.63 503.10 Td (state ) Tj ET Q q 0 0 0 rg BT 149.65 503.10 Td (of ) Tj ET Q q 0 0 0 rg BT 160.68 503.10 Td (Nevada ) Tj ET Q q 0 0 0 rg BT 193.92 503.10 Td (in ) Tj ET Q q 0 0 0 rg BT 204.40 503.10 Td (May ) Tj ET Q q 0 0 0 rg BT 225.43 503.10 Td (201) Tj ET Q q 0 0 0 rg BT 240.06 503.10 Td (1. ) Tj ET Q q 0 0 0 rg BT 250.26 503.10 Td ( ) Tj ET Q q 0 0 0 rg BT 252.76 503.10 Td (The ) Tj ET Q q 0 0 0 rg BT 271.01 503.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 312.60 503.10 Td (is ) Tj ET Q q 0 0 0 rg BT 321.97 503.10 Td (headquartered ) Tj ET Q q 0 0 0 rg BT 381.30 503.10 Td (in ) Tj ET Q q 0 0 0 rg BT 391.78 503.10 Td (Orlando, ) Tj ET Q q 0 0 0 rg BT 429.75 503.10 Td (Florida ) Tj ET Q q 0 0 0 rg BT 461.33 503.10 Td (with ) Tj ET Q q 0 0 0 rg BT 481.81 503.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 524.50 503.10 Td (of) Tj ET Q q 0 0 0 rg BT 532.65 503.10 Td (fices ) Tj ET Q q 0 0 0 rg BT 554.23 503.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 491.10 Td (Chicago ) Tj ET Q q 0 0 0 rg BT 85.83 491.10 Td (and ) Tj ET Q q 0 0 0 rg BT 102.76 491.10 Td (Los ) Tj ET Q q 0 0 0 rg BT 119.71 491.10 Td (Angeles.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 467.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.57 467.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 108.49 467.10 Td (is ) Tj ET Q q 0 0 0 rg BT 117.19 467.10 Td (a ) Tj ET Q q 0 0 0 rg BT 123.65 467.10 Td (leading ) Tj ET Q q 0 0 0 rg BT 155.11 467.10 Td (company ) Tj ET Q q 0 0 0 rg BT 193.80 467.10 Td (in ) Tj ET Q q 0 0 0 rg BT 203.60 467.10 Td (the ) Tj ET Q q 0 0 0 rg BT 217.85 467.10 Td (social ) Tj ET Q q 0 0 0 rg BT 243.20 467.10 Td (sponsorship ) Tj ET Q q 0 0 0 rg BT 293.01 467.10 Td (space, ) Tj ET Q q 0 0 0 rg BT 319.75 467.10 Td (creating ) Tj ET Q q 0 0 0 rg BT 353.98 467.10 Td (the ) Tj ET Q q 0 0 0 rg BT 368.22 467.10 Td (first ) Tj ET Q q 0 0 0 rg BT 386.36 467.10 Td (social ) Tj ET Q q 0 0 0 rg BT 411.71 467.10 Td (sponsorship ) Tj ET Q q 0 0 0 rg BT 461.52 467.10 Td (marketplace ) Tj ET Q q 0 0 0 rg BT 512.41 467.10 Td (in ) Tj ET Q q 0 0 0 rg BT 522.21 467.10 Td (2006 ) Tj ET Q q 0 0 0 rg BT 544.24 467.10 Td (with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 455.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.79 455.10 Td (launch ) Tj ET Q q 0 0 0 rg BT 94.02 455.10 Td (of ) Tj ET Q q 0 0 0 rg BT 104.92 455.10 Td (our ) Tj ET Q q 0 0 0 rg BT 120.82 455.10 Td (first ) Tj ET Q q 0 0 0 rg BT 139.50 455.10 Td (platform, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 179.01 455.10 Td (PayPerPost.com) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.93 455.10 Td (. ) Tj ET Q q 0 0 0 rg BT 251.00 455.10 Td ( ) Tj ET Q q 0 0 0 rg BT 253.58 455.10 Td (Social ) Tj ET Q q 0 0 0 rg BT 281.14 455.10 Td (sponsorship ) Tj ET Q q 0 0 0 rg BT 331.50 455.10 Td (is ) Tj ET Q q 0 0 0 rg BT 340.74 455.10 Td (when ) Tj ET Q q 0 0 0 rg BT 364.97 455.10 Td (a ) Tj ET Q q 0 0 0 rg BT 371.98 455.10 Td (company ) Tj ET Q q 0 0 0 rg BT 411.21 455.10 Td (compensates ) Tj ET Q q 0 0 0 rg BT 464.88 455.10 Td (a ) Tj ET Q q 0 0 0 rg BT 471.89 455.10 Td (social ) Tj ET Q q 0 0 0 rg BT 497.79 455.10 Td (media ) Tj ET Q q 0 0 0 rg BT 524.79 455.10 Td (publisher ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 443.10 Td (or ) Tj ET Q q 0 0 0 rg BT 59.91 443.10 Td (influencer ) Tj ET Q q 0 0 0 rg BT 102.02 443.10 Td (such ) Tj ET Q q 0 0 0 rg BT 121.92 443.10 Td (as ) Tj ET Q q 0 0 0 rg BT 131.83 443.10 Td (a ) Tj ET Q q 0 0 0 rg BT 137.85 443.10 Td (blogger ) Tj ET Q q 0 0 0 rg BT 169.97 443.10 Td (or ) Tj ET Q q 0 0 0 rg BT 179.88 443.10 Td (tweeter ) Tj ET Q q 0 0 0 rg BT 210.88 443.10 Td (\("creators"\) ) Tj ET Q q 0 0 0 rg BT 258.93 443.10 Td (to ) Tj ET Q q 0 0 0 rg BT 268.28 443.10 Td (share ) Tj ET Q q 0 0 0 rg BT 290.96 443.10 Td (sponsored ) Tj ET Q q 0 0 0 rg BT 333.09 443.10 Td (content ) Tj ET Q q 0 0 0 rg BT 364.10 443.10 Td (with ) Tj ET Q q 0 0 0 rg BT 383.45 443.10 Td (their ) Tj ET Q q 0 0 0 rg BT 403.35 443.10 Td (social ) Tj ET Q q 0 0 0 rg BT 428.26 443.10 Td (network ) Tj ET Q q 0 0 0 rg BT 462.60 443.10 Td (audience. ) Tj ET Q q 0 0 0 rg BT 502.10 443.10 Td (This ) Tj ET Q q 0 0 0 rg BT 521.45 443.10 Td (sponsored ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 431.10 Td (content ) Tj ET Q q 0 0 0 rg BT 81.81 431.10 Td (is ) Tj ET Q q 0 0 0 rg BT 90.86 431.10 Td (shared ) Tj ET Q q 0 0 0 rg BT 119.34 431.10 Td (within ) Tj ET Q q 0 0 0 rg BT 147.27 431.10 Td (the ) Tj ET Q q 0 0 0 rg BT 161.87 431.10 Td (body ) Tj ET Q q 0 0 0 rg BT 184.24 431.10 Td (of ) Tj ET Q q 0 0 0 rg BT 194.95 431.10 Td (a ) Tj ET Q q 0 0 0 rg BT 201.77 431.10 Td (content ) Tj ET Q q 0 0 0 rg BT 233.58 431.10 Td (stream, ) Tj ET Q q 0 0 0 rg BT 265.11 431.10 Td (a ) Tj ET Q q 0 0 0 rg BT 271.93 431.10 Td (practice ) Tj ET Q q 0 0 0 rg BT 305.95 431.10 Td (also ) Tj ET Q q 0 0 0 rg BT 324.43 431.10 Td (referred ) Tj ET Q q 0 0 0 rg BT 358.45 431.10 Td (to ) Tj ET Q q 0 0 0 rg BT 368.60 431.10 Td (as ) Tj ET Q q 0 0 0 rg BT 379.31 431.10 Td (native ) Tj ET Q q 0 0 0 rg BT 410.56 431.10 Td (advertising ) Tj ET Q q 0 0 0 rg BT 461.81 431.10 Td (and ) Tj ET Q q 0 0 0 rg BT 478.63 431.10 Td ("sponsored ) Tj ET Q q 0 0 0 rg BT 525.64 431.10 Td (content. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 407.10 Td (On ) Tj ET Q q 0 0 0 rg BT 64.48 407.10 Td (January ) Tj ET Q q 0 0 0 rg BT 97.84 407.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 112.61 407.10 Td (2015, ) Tj ET Q q 0 0 0 rg BT 137.37 407.10 Td (the ) Tj ET Q q 0 0 0 rg BT 151.85 407.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 193.00 407.10 Td (purchased ) Tj ET Q q 0 0 0 rg BT 235.80 407.10 Td (all ) Tj ET Q q 0 0 0 rg BT 248.05 407.10 Td (of ) Tj ET Q q 0 0 0 rg BT 258.65 407.10 Td (the ) Tj ET Q q 0 0 0 rg BT 273.13 407.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 322.05 407.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 349.30 407.10 Td (of ) Tj ET Q q 0 0 0 rg BT 359.90 407.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 388.81 407.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 412.18 407.10 Td (of ) Tj ET Q q 0 0 0 rg BT 422.77 407.10 Td (Ebyline, ) Tj ET Q q 0 0 0 rg BT 458.64 407.10 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 476.17 407.10 Td (\(Ebyline\), ) Tj ET Q q 0 0 0 rg BT 527.57 407.10 Td (pursuant ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 395.10 Td (to ) Tj ET Q q 0 0 0 rg BT 60.22 395.10 Td (the ) Tj ET Q q 0 0 0 rg BT 74.89 395.10 Td (terms ) Tj ET Q q 0 0 0 rg BT 99.55 395.10 Td (of ) Tj ET Q q 0 0 0 rg BT 110.32 395.10 Td (a ) Tj ET Q q 0 0 0 rg BT 117.21 395.10 Td (Stock ) Tj ET Q q 0 0 0 rg BT 142.43 395.10 Td (Purchase ) Tj ET Q q 0 0 0 rg BT 180.43 395.10 Td (Agreement, ) Tj ET Q q 0 0 0 rg BT 229.80 395.10 Td (dated ) Tj ET Q q 0 0 0 rg BT 253.90 395.10 Td (as ) Tj ET Q q 0 0 0 rg BT 264.68 395.10 Td (of ) Tj ET Q q 0 0 0 rg BT 275.46 395.10 Td (January ) Tj ET Q q 0 0 0 rg BT 309.00 395.10 Td (27, ) Tj ET Q q 0 0 0 rg BT 323.94 395.10 Td (2015, ) Tj ET Q q 0 0 0 rg BT 348.89 395.10 Td (by ) Tj ET Q q 0 0 0 rg BT 361.33 395.10 Td (and ) Tj ET Q q 0 0 0 rg BT 378.22 395.10 Td (among ) Tj ET Q q 0 0 0 rg BT 407.88 395.10 Td (IZEA, ) Tj ET Q q 0 0 0 rg BT 435.59 395.10 Td (Ebyline ) Tj ET Q q 0 0 0 rg BT 469.14 395.10 Td (and ) Tj ET Q q 0 0 0 rg BT 486.03 395.10 Td (the ) Tj ET Q q 0 0 0 rg BT 500.69 395.10 Td (stockholders ) Tj ET Q q 0 0 0 rg BT 553.68 395.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 383.10 Td (Ebyline ) Tj ET Q q 0 0 0 rg BT 83.46 383.10 Td (\(see ) Tj ET Q q 0 0 0 rg BT 101.91 383.10 Td (Note ) Tj ET Q q 0 0 0 rg BT 123.71 383.10 Td (2\). ) Tj ET Q q 0 0 0 rg BT 136.89 383.10 Td (Based ) Tj ET Q q 0 0 0 rg BT 163.69 383.10 Td (in ) Tj ET Q q 0 0 0 rg BT 173.82 383.10 Td (Los ) Tj ET Q q 0 0 0 rg BT 190.66 383.10 Td (Angeles, ) Tj ET Q q 0 0 0 rg BT 228.28 383.10 Td (California, ) Tj ET Q q 0 0 0 rg BT 273.68 383.10 Td (Ebyline ) Tj ET Q q 0 0 0 rg BT 307.14 383.10 Td (operates ) Tj ET Q q 0 0 0 rg BT 342.81 383.10 Td (an ) Tj ET Q q 0 0 0 rg BT 354.61 383.10 Td (online ) Tj ET Q q 0 0 0 rg BT 381.96 383.10 Td (marketplace ) Tj ET Q q 0 0 0 rg BT 433.17 383.10 Td (that ) Tj ET Q q 0 0 0 rg BT 450.52 383.10 Td (enables ) Tj ET Q q 0 0 0 rg BT 482.86 383.10 Td (publishers ) Tj ET Q q 0 0 0 rg BT 526.33 383.10 Td (to ) Tj ET Q q 0 0 0 rg BT 536.46 383.10 Td (access ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 371.10 Td (a ) Tj ET Q q 0 0 0 rg BT 56.67 371.10 Td (network ) Tj ET Q q 0 0 0 rg BT 91.67 371.10 Td (of ) Tj ET Q q 0 0 0 rg BT 102.23 371.10 Td (over ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.23 371.10 Td (12,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.73 371.10 Td ( ) Tj ET Q q 0 0 0 rg BT 151.96 371.10 Td (content ) Tj ET Q q 0 0 0 rg BT 183.63 371.10 Td (creators ) Tj ET Q q 0 0 0 rg BT 217.50 371.10 Td (ranging ) Tj ET Q q 0 0 0 rg BT 250.28 371.10 Td (from ) Tj ET Q q 0 0 0 rg BT 271.95 371.10 Td (writers ) Tj ET Q q 0 0 0 rg BT 301.95 371.10 Td (to ) Tj ET Q q 0 0 0 rg BT 311.96 371.10 Td (illustrators ) Tj ET Q q 0 0 0 rg BT 356.97 371.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.98 371.10 Td (73) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.98 371.10 Td ( ) Tj ET Q q 0 0 0 rg BT 379.21 371.10 Td (countries. ) Tj ET Q q 0 0 0 rg BT 420.60 371.10 Td ( ) Tj ET Q q 0 0 0 rg BT 422.83 371.10 Td (Over ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.05 371.10 Td (2,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.55 371.10 Td ( ) Tj ET Q q 0 0 0 rg BT 469.78 371.10 Td (fully ) Tj ET Q q 0 0 0 rg BT 490.90 371.10 Td (vetted ) Tj ET Q q 0 0 0 rg BT 517.56 371.10 Td (individuals ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 359.10 Td (in ) Tj ET Q q 0 0 0 rg BT 61.72 359.10 Td (the ) Tj ET Q q 0 0 0 rg BT 77.87 359.10 Td (Ebyline ) Tj ET Q q 0 0 0 rg BT 112.91 359.10 Td (network ) Tj ET Q q 0 0 0 rg BT 149.62 359.10 Td (have ) Tj ET Q q 0 0 0 rg BT 172.43 359.10 Td (professional ) Tj ET Q q 0 0 0 rg BT 225.25 359.10 Td (journalism ) Tj ET Q q 0 0 0 rg BT 271.96 359.10 Td (credentials ) Tj ET Q q 0 0 0 rg BT 319.21 359.10 Td (with ) Tj ET Q q 0 0 0 rg BT 340.92 359.10 Td (backgrounds ) Tj ET Q q 0 0 0 rg BT 395.96 359.10 Td (at ) Tj ET Q q 0 0 0 rg BT 407.11 359.10 Td (well-known ) Tj ET Q q 0 0 0 rg BT 458.82 359.10 Td (media ) Tj ET Q q 0 0 0 rg BT 487.19 359.10 Td (outlets. ) Tj ET Q q 0 0 0 rg BT 520.29 359.10 Td ( ) Tj ET Q q 0 0 0 rg BT 524.23 359.10 Td (Ebyline) Tj ET Q q 0 0 0 rg BT 558.11 359.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 347.10 Td (proprietary ) Tj ET Q q 0 0 0 rg BT 96.31 347.10 Td (workflow ) Tj ET Q q 0 0 0 rg BT 137.08 347.10 Td (is ) Tj ET Q q 0 0 0 rg BT 145.63 347.10 Td (utilized ) Tj ET Q q 0 0 0 rg BT 177.51 347.10 Td (by ) Tj ET Q q 0 0 0 rg BT 189.40 347.10 Td (leading ) Tj ET Q q 0 0 0 rg BT 220.72 347.10 Td (media ) Tj ET Q q 0 0 0 rg BT 247.04 347.10 Td (or) Tj ET Q q 0 0 0 rg BT 255.19 347.10 Td (ganizations ) Tj ET Q q 0 0 0 rg BT 302.61 347.10 Td (to ) Tj ET Q q 0 0 0 rg BT 312.28 347.10 Td (obtain ) Tj ET Q q 0 0 0 rg BT 339.16 347.10 Td (the ) Tj ET Q q 0 0 0 rg BT 353.26 347.10 Td (content ) Tj ET Q q 0 0 0 rg BT 384.58 347.10 Td (they ) Tj ET Q q 0 0 0 rg BT 403.69 347.10 Td (need ) Tj ET Q q 0 0 0 rg BT 424.45 347.10 Td (from ) Tj ET Q q 0 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448.79 335.10 Td (on ) Tj ET Q q 0 0 0 rg BT 461.13 335.10 Td (their ) Tj ET Q q 0 0 0 rg BT 481.80 335.10 Td (owned ) Tj ET Q q 0 0 0 rg BT 510.81 335.10 Td (and ) Tj ET Q q 0 0 0 rg BT 527.59 335.10 Td (operated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 323.10 Td (sites, ) Tj ET Q q 0 0 0 rg BT 72.78 323.10 Td (as ) Tj ET Q q 0 0 0 rg BT 83.61 323.10 Td (well ) Tj ET Q q 0 0 0 rg BT 103.33 323.10 Td (as ) Tj ET Q q 0 0 0 rg BT 114.16 323.10 Td (third ) Tj ET Q q 0 0 0 rg BT 135.54 323.10 Td (party ) Tj ET Q q 0 0 0 rg BT 158.59 323.10 Td (content ) Tj ET Q q 0 0 0 rg BT 190.52 323.10 Td (marketing ) Tj ET Q q 0 0 0 rg BT 233.56 323.10 Td (and ) Tj ET Q q 0 0 0 rg BT 250.50 323.10 Td (native ) Tj ET Q q 0 0 0 rg BT 277.44 323.10 Td (advertising ) Tj ET Q q 0 0 0 rg BT 324.37 323.10 Td (ef) Tj ET Q q 0 0 0 rg BT 331.96 323.10 Td (forts. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 299.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.67 299.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 108.67 299.10 Td (currently ) Tj ET Q q 0 0 0 rg BT 146.89 299.10 Td (operates ) Tj ET Q q 0 0 0 rg BT 182.33 299.10 Td (the ) Tj ET Q q 0 0 0 rg BT 196.66 299.10 Td (Ebyline ) Tj ET Q q 0 0 0 rg BT 229.89 299.10 Td (online ) Tj ET Q q 0 0 0 rg BT 257.00 299.10 Td (marketplace ) Tj ET Q q 0 0 0 rg BT 307.98 299.10 Td (along ) Tj ET Q q 0 0 0 rg BT 332.32 299.10 Td (with ) Tj ET Q q 0 0 0 rg BT 352.22 299.10 Td (its ) Tj ET Q q 0 0 0 rg BT 363.79 299.10 Td (own ) Tj ET Q q 0 0 0 rg BT 383.13 299.10 Td (online ) Tj ET Q q 0 0 0 rg BT 410.24 299.10 Td (marketplace ) Tj ET Q q 0 0 0 rg BT 461.22 299.10 Td (that ) Tj ET Q q 0 0 0 rg BT 478.34 299.10 Td (connects ) Tj ET Q q 0 0 0 rg BT 515.44 299.10 Td (brands ) Tj ET Q q 0 0 0 rg BT 544.22 299.10 Td (with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 287.10 Td (creators ) Tj ET Q q 0 0 0 rg BT 84.74 287.10 Td (at ) Tj ET Q q 0 0 0 rg BT 95.05 287.10 Td (IZEA.com ) Tj ET Q q 0 0 0 rg BT 140.63 287.10 Td (as ) Tj ET Q q 0 0 0 rg BT 152.06 287.10 Td (well ) Tj ET Q q 0 0 0 rg BT 172.37 287.10 Td (as ) Tj ET Q q 0 0 0 rg BT 183.80 287.10 Td (other ) Tj ET Q q 0 0 0 rg BT 207.44 287.10 Td (white ) Tj ET Q q 0 0 0 rg BT 232.75 287.10 Td (label ) Tj ET Q q 0 0 0 rg BT 255.28 287.10 Td (marketplaces. ) Tj ET Q q 0 0 0 rg BT 313.63 287.10 Td (IZEA.com ) Tj ET Q q 0 0 0 rg BT 359.21 287.10 Td (and ) Tj ET Q q 0 0 0 rg BT 376.74 287.10 Td (all ) Tj ET Q q 0 0 0 rg BT 389.83 287.10 Td (white ) Tj ET Q q 0 0 0 rg BT 415.15 287.10 Td (label ) Tj ET Q q 0 0 0 rg BT 437.68 287.10 Td (sites ) Tj ET Q q 0 0 0 rg BT 458.55 287.10 Td (are ) Tj ET Q q 0 0 0 rg BT 473.85 287.10 Td (powered ) Tj ET Q q 0 0 0 rg BT 511.38 287.10 Td (by ) Tj ET Q q 0 0 0 rg BT 524.47 287.10 Td (the ) Tj ET Q q 0 0 0 rg BT 539.79 287.10 Td (IZEA) Tj ET Q q 0 0 0 rg BT 562.00 287.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 275.10 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 92.85 275.10 Td (\() Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 100.62 275.10 Td (IZEAx) Tj 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Tj ET Q q 0 0 0 rg BT 521.72 227.10 Td (the ) Tj ET Q q 0 0 0 rg BT 536.59 227.10 Td (end ) Tj ET Q q 0 0 0 rg BT 553.68 227.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 215.10 Td (2014.) 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119.10 Td (of ) Tj ET Q q 0 0 0 rg BT 144.46 119.10 Td (Ebyline. ) Tj ET Q q 0 0 0 rg BT 181.23 119.10 Td (Under ) Tj ET Q q 0 0 0 rg BT 209.39 119.10 Td (the ) Tj ET Q q 0 0 0 rg BT 224.77 119.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 271.82 119.10 Td (method ) Tj ET Q q 0 0 0 rg BT 304.99 119.10 Td (of ) Tj ET Q q 0 0 0 rg BT 316.49 119.10 Td (accounting, ) Tj ET Q q 0 0 0 rg BT 366.03 119.10 Td (the ) Tj ET Q q 0 0 0 rg BT 381.41 119.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 420.12 119.10 Td (price ) Tj ET Q q 0 0 0 rg BT 443.27 119.10 Td (is ) Tj ET Q q 0 0 0 rg BT 453.11 119.10 Td (allocated ) Tj ET Q q 0 0 0 rg BT 492.36 119.10 Td (to ) Tj ET Q q 0 0 0 rg BT 503.31 119.10 Td (the ) Tj ET Q q 0 0 0 rg BT 518.69 119.10 Td (underlying ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 107.10 Td (Ebyline ) Tj ET Q q 0 0 0 rg BT 82.86 107.10 Td (tangible ) Tj ET Q q 0 0 0 rg BT 116.82 107.10 Td (and ) Tj ET Q q 0 0 0 rg BT 133.01 107.10 Td ( ) Tj ET Q q 0 0 0 rg BT 134.76 107.10 Td (intangible ) Tj ET Q q 0 0 0 rg BT 176.50 107.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 201.59 107.10 Td (acquired ) Tj ET Q q 0 0 0 rg BT 237.76 107.10 Td (and ) Tj ET Q q 0 0 0 rg BT 253.95 107.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 292.92 107.10 Td (assumed ) Tj ET Q q 0 0 0 rg BT 329.11 107.10 Td (based ) Tj ET Q q 0 0 0 rg BT 353.63 107.10 Td (on ) Tj ET Q q 0 0 0 rg BT 365.38 107.10 Td (their ) Tj ET Q q 0 0 0 rg BT 385.46 107.10 Td (respective ) Tj ET Q q 0 0 0 rg BT 427.75 107.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 443.37 107.10 Td (market ) Tj ET Q q 0 0 0 rg BT 472.89 107.10 Td (values ) Tj ET Q q 0 0 0 rg BT 500.19 107.10 Td (with ) Tj ET Q q 0 0 0 rg BT 519.72 107.10 Td (any ) Tj ET Q q 0 0 0 rg BT 535.91 107.10 Td (excess ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 95.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 87.55 95.10 Td (price ) Tj ET Q q 0 0 0 rg BT 109.55 95.10 Td (allocated ) Tj ET Q q 0 0 0 rg BT 147.65 95.10 Td (to ) Tj ET Q q 0 0 0 rg BT 157.45 95.10 Td (goodwill. ) Tj ET Q q 0 0 0 rg BT 197.37 95.10 Td (The ) Tj ET Q q 0 0 0 rg BT 214.93 95.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 260.83 95.10 Td (method ) Tj ET Q q 0 0 0 rg BT 292.84 95.10 Td (of ) Tj ET Q q 0 0 0 rg BT 303.18 95.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 349.07 95.10 Td (is ) Tj ET Q q 0 0 0 rg BT 357.75 95.10 Td (dependent ) Tj ET Q q 0 0 0 rg BT 400.86 95.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 422.87 95.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 452.09 95.10 Td (valuations ) Tj ET Q q 0 0 0 rg BT 495.21 95.10 Td (and ) Tj ET Q q 0 0 0 rg BT 511.66 95.10 Td (other ) Tj ET Q q 0 0 0 rg BT 534.22 95.10 Td (studies ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 83.10 Td (that ) Tj ET Q q 0 0 0 rg BT 67.63 83.10 Td (are ) Tj ET Q q 0 0 0 rg BT 82.47 83.10 Td (preliminary) Tj ET Q q 0 0 0 rg BT 128.47 83.10 Td (, ) Tj ET Q q 0 0 0 rg BT 133.61 83.10 Td (based ) Tj ET Q q 0 0 0 rg BT 159.01 83.10 Td (on ) Tj ET Q q 0 0 0 rg BT 171.64 83.10 Td (work ) Tj ET Q q 0 0 0 rg BT 194.83 83.10 Td (performed ) Tj ET Q q 0 0 0 rg BT 239.11 83.10 Td (to ) Tj ET Q q 0 0 0 rg BT 249.52 83.10 Td (date. ) Tj ET Q q 0 0 0 rg BT 271.31 83.10 Td (IZEA) Tj ET Q q 0 0 0 rg BT 293.53 83.10 Td ( ) Tj ET Q q 0 0 0 rg BT 296.16 83.10 Td (anticipates ) Tj ET Q q 0 0 0 rg BT 341.56 83.10 Td (that ) Tj ET Q q 0 0 0 rg BT 359.18 83.10 Td (all ) Tj ET Q q 0 0 0 rg BT 371.81 83.10 Td (the ) Tj ET Q q 0 0 0 rg BT 386.67 83.10 Td (information ) Tj ET Q q 0 0 0 rg BT 436.51 83.10 Td (needed ) Tj ET Q q 0 0 0 rg BT 467.46 83.10 Td (to ) Tj ET Q q 0 0 0 rg BT 477.87 83.10 Td (identify ) Tj ET Q q 0 0 0 rg BT 511.61 83.10 Td (and ) Tj ET Q q 0 0 0 rg BT 528.68 83.10 Td (measure ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 71.10 Td (values ) Tj ET Q q 0 0 0 rg BT 78.65 71.10 Td (assigned ) Tj ET Q q 0 0 0 rg BT 116.19 71.10 Td (to ) Tj ET Q q 0 0 0 rg BT 127.07 71.10 Td (the ) Tj ET Q q 0 0 0 rg BT 142.38 71.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 168.81 71.10 Td (acquired ) Tj ET Q q 0 0 0 rg BT 206.34 71.10 Td (and ) Tj ET Q q 0 0 0 rg BT 223.88 71.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 264.19 71.10 Td (assumed ) Tj ET Q q 0 0 0 rg BT 301.73 71.10 Td (will ) Tj ET Q q 0 0 0 rg BT 320.39 71.10 Td (be ) Tj ET Q q 0 0 0 rg BT 332.93 71.10 Td (obtained ) Tj ET Q q 0 0 0 rg BT 370.46 71.10 Td (and ) Tj ET Q q 0 0 0 rg BT 388.00 71.10 Td (finalized ) Tj ET Q q 0 0 0 rg BT 426.08 71.10 Td (during ) Tj ET Q q 0 0 0 rg BT 455.29 71.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.61 71.10 Td (one) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.05 71.10 Td (-year ) Tj ET Q q 0 0 0 rg BT 508.69 71.10 Td (measurement ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 59.10 Td (period ) Tj ET Q q 0 0 0 rg BT 78.09 59.10 Td (following ) Tj ET Q q 0 0 0 rg BT 119.52 59.10 Td (the ) Tj ET Q q 0 0 0 rg BT 134.29 59.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 180.71 59.10 Td (date. ) Tj ET Q q 0 0 0 rg BT 202.41 59.10 Td (Dif) Tj ET Q q 0 0 0 rg BT 215.56 59.10 Td (ferences ) Tj ET Q q 0 0 0 rg BT 251.42 59.10 Td (between ) Tj ET Q q 0 0 0 rg BT 287.28 59.10 Td (these ) Tj ET Q q 0 0 0 rg BT 310.37 59.10 Td (preliminary ) Tj ET Q q 0 0 0 rg BT 359.56 59.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 399.32 59.10 Td (and ) Tj ET Q q 0 0 0 rg BT 416.31 59.10 Td (the ) Tj ET Q q 0 0 0 rg BT 431.07 59.10 Td (final ) Tj ET Q q 0 0 0 rg BT 451.94 59.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 498.37 59.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 544.78 59.10 Td (may ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 47.10 Td (occur) Tj ET Q q 0 0 0 rg BT 71.81 47.10 Td (, ) Tj ET Q q 0 0 0 rg BT 76.81 47.10 Td (and ) Tj ET Q q 0 0 0 rg BT 93.75 47.10 Td (these ) Tj ET Q q 0 0 0 rg BT 116.79 47.10 Td (dif) Tj ET Q q 0 0 0 rg BT 127.72 47.10 Td (ferences ) Tj ET Q q 0 0 0 rg BT 163.53 47.10 Td (could ) Tj ET Q q 0 0 0 rg BT 188.24 47.10 Td (have ) Tj ET Q q 0 0 0 rg BT 209.62 47.10 Td (a ) Tj ET Q q 0 0 0 rg BT 216.56 47.10 Td (material ) Tj ET Q q 0 0 0 rg BT 251.82 47.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 281.53 47.10 Td (on ) Tj ET Q q 0 0 0 rg BT 294.03 47.10 Td (the ) Tj ET Q q 0 0 0 rg BT 308.75 47.10 Td (unaudited ) Tj ET Q q 0 0 0 rg BT 350.68 47.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 403.72 47.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 441.20 47.10 Td (statements.) Tj ET Q endstream endobj 17 0 obj <> endobj 18 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 283.05 772.75 Td (IZEA, Inc.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 181.55 760.75 Td (Notes to the Unaudited Consolidated Financial Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 731.10 Td () Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 50 717.53505859375 m 167.5439453125 717.53505859375 l s q 0 0 0 rg BT 50.00 719.10 Td (Cash ) Tj ET Q q 0 0 0 rg BT 74.17 719.10 Td (and ) Tj ET Q q 0 0 0 rg BT 92.80 719.10 Td (Cash ) Tj ET Q q 0 0 0 rg BT 116.97 719.10 Td (Equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 707.10 Td (For ) Tj ET Q q 0 0 0 rg BT 66.24 707.10 Td (purposes ) Tj ET Q q 0 0 0 rg BT 104.14 707.10 Td (of ) Tj ET Q q 0 0 0 rg BT 114.82 707.10 Td (the ) Tj ET Q q 0 0 0 rg BT 129.38 707.10 Td (statement ) Tj ET Q q 0 0 0 rg BT 170.05 707.10 Td (of ) Tj ET Q q 0 0 0 rg BT 180.73 707.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 200.84 707.10 Td (flows, ) Tj ET Q q 0 0 0 rg BT 227.91 707.10 Td (the ) Tj ET Q q 0 0 0 rg BT 242.48 707.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 283.71 707.10 Td (considers ) Tj ET Q q 0 0 0 rg BT 323.83 707.10 Td (all ) Tj ET Q q 0 0 0 rg BT 336.17 707.10 Td (highly ) Tj ET Q q 0 0 0 rg BT 364.07 707.10 Td (liquid ) Tj ET Q q 0 0 0 rg BT 389.76 707.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 409.32 707.10 Td (instruments ) Tj ET Q q 0 0 0 rg BT 458.33 707.10 Td (purchased ) Tj ET Q q 0 0 0 rg BT 501.22 707.10 Td (with ) Tj ET Q q 0 0 0 rg BT 521.34 707.10 Td (a ) Tj ET Q q 0 0 0 rg BT 528.13 707.10 Td (maturity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 695.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.83 695.10 Td (three ) Tj ET Q q 0 0 0 rg BT 83.32 695.10 Td (months ) Tj ET Q q 0 0 0 rg BT 115.26 695.10 Td (or ) Tj ET Q q 0 0 0 rg BT 126.09 695.10 Td (less ) Tj ET Q q 0 0 0 rg BT 143.59 695.10 Td (to ) Tj ET Q q 0 0 0 rg BT 153.87 695.10 Td (be ) Tj ET Q q 0 0 0 rg BT 165.81 695.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 186.08 695.10 Td (equivalents.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 683.10 Td () Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 50 669.53505859375 m 283.69140625 669.53505859375 l s q 0 0 0 rg BT 50.00 671.10 Td (Accounts ) Tj ET Q q 0 0 0 rg BT 91.94 671.10 Td (Receivable ) Tj ET Q q 0 0 0 rg BT 140.54 671.10 Td (and ) Tj ET Q q 0 0 0 rg BT 159.16 671.10 Td (Concentration ) Tj ET Q q 0 0 0 rg BT 223.32 671.10 Td (of ) Tj ET Q q 0 0 0 rg BT 234.15 671.10 Td (Cr) Tj ET Q q 0 0 0 rg BT 245.63 671.10 Td (edit ) Tj ET Q q 0 0 0 rg BT 264.24 671.10 Td (Risk) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 659.10 Td (Accounts ) Tj ET Q q 0 0 0 rg BT 89.07 659.10 Td (receivable ) Tj ET Q q 0 0 0 rg BT 131.45 659.10 Td (are ) Tj ET Q q 0 0 0 rg BT 144.96 659.10 Td (customer ) Tj ET Q q 0 0 0 rg BT 182.91 659.10 Td (obligations ) Tj ET Q q 0 0 0 rg BT 228.65 659.10 Td (due ) Tj ET Q q 0 0 0 rg BT 244.39 659.10 Td (under ) Tj ET Q q 0 0 0 rg BT 268.46 659.10 Td (normal ) Tj ET Q q 0 0 0 rg BT 298.09 659.10 Td (trade ) Tj ET Q q 0 0 0 rg BT 319.37 659.10 Td (terms. ) Tj ET Q q 0 0 0 rg BT 345.39 659.10 Td (Uncollectibility ) Tj ET Q q 0 0 0 rg BT 409.45 659.10 Td (of ) Tj ET Q q 0 0 0 rg BT 419.08 659.10 Td (accounts ) Tj ET Q q 0 0 0 rg BT 455.37 659.10 Td (receivable ) Tj ET Q q 0 0 0 rg BT 497.75 659.10 Td (is ) Tj ET Q q 0 0 0 rg BT 505.72 659.10 Td (not ) Tj ET Q q 0 0 0 rg BT 519.80 659.10 Td (significant ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 647.10 Td (since ) Tj ET Q q 0 0 0 rg BT 73.21 647.10 Td (most ) Tj ET Q q 0 0 0 rg BT 95.32 647.10 Td (customers ) Tj ET Q q 0 0 0 rg BT 138.52 647.10 Td (are ) Tj ET Q q 0 0 0 rg BT 153.39 647.10 Td (bound ) Tj ET Q q 0 0 0 rg BT 181.05 647.10 Td (by ) Tj ET Q q 0 0 0 rg BT 193.71 647.10 Td (contract ) Tj ET Q q 0 0 0 rg BT 228.57 647.10 Td (and ) Tj ET Q q 0 0 0 rg BT 245.67 647.10 Td (are ) Tj ET Q q 0 0 0 rg BT 260.54 647.10 Td (required ) Tj ET Q q 0 0 0 rg BT 296.51 647.10 Td (to ) Tj ET Q q 0 0 0 rg BT 306.95 647.10 Td (fund ) Tj ET Q q 0 0 0 rg BT 327.94 647.10 Td (the ) Tj ET Q q 0 0 0 rg BT 342.82 647.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 384.37 647.10 Td (for ) Tj ET Q q 0 0 0 rg BT 398.69 647.10 Td (all ) Tj ET Q q 0 0 0 rg BT 411.34 647.10 Td (the ) Tj ET Q q 0 0 0 rg BT 426.22 647.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 448.88 647.10 Td (of ) Tj ET Q q 0 0 0 rg BT 459.87 647.10 Td (an ) Tj ET Q q 0 0 0 rg BT 471.97 647.10 Td (opportunity) Tj ET Q q 0 0 0 rg BT 522.42 647.10 Td (, ) Tj ET Q q 0 0 0 rg BT 532.02 647.10 Td (defined ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 635.10 Td (as ) Tj ET Q q 0 0 0 rg BT 61.39 635.10 Td (an ) Tj ET Q q 0 0 0 rg BT 73.90 635.10 Td (order ) Tj ET Q q 0 0 0 rg BT 98.06 635.10 Td (created ) Tj ET Q q 0 0 0 rg BT 129.99 635.10 Td (by ) Tj ET Q q 0 0 0 rg BT 143.05 635.10 Td (an ) Tj ET Q q 0 0 0 rg BT 155.55 635.10 Td (advertiser ) Tj ET Q q 0 0 0 rg BT 198.04 635.10 Td (for ) Tj ET Q q 0 0 0 rg BT 212.76 635.10 Td (a ) Tj ET Q q 0 0 0 rg BT 220.27 635.10 Td (creator ) Tj ET Q q 0 0 0 rg BT 251.08 635.10 Td (to ) Tj ET Q q 0 0 0 rg BT 261.93 635.10 Td (write ) Tj ET Q q 0 0 0 rg BT 285.54 635.10 Td (about ) Tj ET Q q 0 0 0 rg BT 310.82 635.10 Td (the ) Tj ET Q q 0 0 0 rg BT 326.10 635.10 Td (advertiser) Tj ET Q q 0 0 0 rg BT 365.89 635.10 Td () Tj ET Q q 0 0 0 rg BT 368.67 635.10 Td (s ) Tj ET Q q 0 0 0 rg BT 375.63 635.10 Td (product. ) Tj ET Q q 0 0 0 rg BT 411.74 635.10 Td (If ) Tj ET Q q 0 0 0 rg BT 421.46 635.10 Td (a ) Tj ET Q q 0 0 0 rg BT 428.96 635.10 Td (portion ) Tj ET Q q 0 0 0 rg BT 460.92 635.10 Td (of ) Tj ET Q q 0 0 0 rg BT 472.31 635.10 Td (the ) Tj ET Q q 0 0 0 rg BT 487.59 635.10 Td (account ) Tj ET Q q 0 0 0 rg BT 521.75 635.10 Td (balance ) Tj ET Q q 0 0 0 rg BT 555.34 635.10 Td (is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 623.10 Td (deemed ) Tj ET Q q 0 0 0 rg BT 83.34 623.10 Td (uncollectible, ) Tj ET Q q 0 0 0 rg BT 139.73 623.10 Td (the ) Tj ET Q q 0 0 0 rg BT 154.19 623.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 195.32 623.10 Td (will ) Tj ET Q q 0 0 0 rg BT 213.13 623.10 Td (either ) Tj ET Q q 0 0 0 rg BT 238.13 623.10 Td (write-of) Tj ET Q q 0 0 0 rg BT 270.16 623.10 Td (f ) Tj ET Q q 0 0 0 rg BT 275.74 623.10 Td (the ) Tj ET Q q 0 0 0 rg BT 290.20 623.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 322.44 623.10 Td (owed ) Tj ET Q q 0 0 0 rg BT 346.34 623.10 Td (or ) Tj ET Q q 0 0 0 rg BT 356.92 623.10 Td (provide ) Tj ET Q q 0 0 0 rg BT 389.71 623.10 Td (a ) Tj ET Q q 0 0 0 rg BT 396.39 623.10 Td (reserve ) Tj ET Q q 0 0 0 rg BT 427.51 623.10 Td (based ) Tj ET Q q 0 0 0 rg BT 452.52 623.10 Td (on ) Tj ET Q q 0 0 0 rg BT 464.76 623.10 Td (the ) Tj ET Q q 0 0 0 rg BT 479.23 623.10 Td (uncollectible ) Tj ET Q q 0 0 0 rg BT 533.12 623.10 Td (portion ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 611.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.42 611.10 Td (the ) Tj ET Q q 0 0 0 rg BT 74.73 611.10 Td (account. ) Tj ET Q q 0 0 0 rg BT 110.41 611.10 Td (Management ) Tj ET Q q 0 0 0 rg BT 164.70 611.10 Td (determines ) Tj ET Q q 0 0 0 rg BT 210.66 611.10 Td (the ) Tj ET Q q 0 0 0 rg BT 224.97 611.10 Td (collectibility ) Tj ET Q q 0 0 0 rg BT 277.60 611.10 Td (of ) Tj ET Q q 0 0 0 rg BT 288.02 611.10 Td (accounts ) Tj ET Q q 0 0 0 rg BT 325.10 611.10 Td (by ) Tj ET Q q 0 0 0 rg BT 337.19 611.10 Td (regularly ) Tj ET Q q 0 0 0 rg BT 375.37 611.10 Td (evaluating ) Tj ET Q q 0 0 0 rg BT 419.11 611.10 Td (individual ) Tj ET Q q 0 0 0 rg BT 461.75 611.10 Td (customer ) Tj ET Q q 0 0 0 rg BT 500.50 611.10 Td (receivables ) Tj ET Q q 0 0 0 rg BT 547.56 611.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 599.10 Td (considering ) Tj ET Q q 0 0 0 rg BT 100.19 599.10 Td (a ) Tj ET Q q 0 0 0 rg BT 108.15 599.10 Td (customer) Tj ET Q q 0 0 0 rg BT 145.18 599.10 Td () Tj ET Q q 0 0 0 rg BT 147.96 599.10 Td (s ) Tj ET Q q 0 0 0 rg BT 155.38 599.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 193.89 599.10 Td (condition, ) Tj ET Q q 0 0 0 rg BT 237.70 599.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 263.99 599.10 Td (history ) Tj ET Q q 0 0 0 rg BT 295.30 599.10 Td (and ) Tj ET Q q 0 0 0 rg BT 313.27 599.10 Td (current ) Tj ET Q q 0 0 0 rg BT 345.11 599.10 Td (economic ) Tj ET Q q 0 0 0 rg BT 387.51 599.10 Td (conditions. ) Tj ET Q q 0 0 0 rg BT 434.96 599.10 Td (The ) Tj ET Q q 0 0 0 rg BT 454.03 599.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 496.45 599.10 Td (has ) Tj ET Q q 0 0 0 rg BT 513.31 599.10 Td (a ) Tj ET Q q 0 0 0 rg BT 521.28 599.10 Td (reserve ) Tj ET Q q 0 0 0 rg BT 553.68 599.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 587.10 Td ($31,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.50 587.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.34 587.10 Td (for ) Tj ET Q q 0 0 0 rg BT 101.84 587.10 Td (doubtful ) Tj ET Q q 0 0 0 rg BT 139.57 587.10 Td (accounts ) Tj ET Q q 0 0 0 rg BT 178.39 587.10 Td (as ) Tj ET Q q 0 0 0 rg BT 190.56 587.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.73 587.10 Td (September30, ) Tj ET Q q 0 0 0 rg BT 264.33 587.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.33 587.10 Td (. ) Tj ET Q q 0 0 0 rg BT 290.40 587.10 Td (The ) Tj ET Q q 0 0 0 rg BT 309.78 587.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 352.51 587.10 Td (did ) Tj ET Q q 0 0 0 rg BT 369.13 587.10 Td (not ) Tj ET Q q 0 0 0 rg BT 385.75 587.10 Td (have ) Tj ET Q q 0 0 0 rg BT 408.46 587.10 Td (a ) Tj ET Q q 0 0 0 rg BT 416.74 587.10 Td (reserve ) Tj ET Q q 0 0 0 rg BT 449.45 587.10 Td (for ) Tj ET Q q 0 0 0 rg BT 464.95 587.10 Td (doubtful ) Tj ET Q q 0 0 0 rg BT 502.68 587.10 Td (accounts ) Tj ET Q q 0 0 0 rg BT 541.50 587.10 Td (as ) Tj ET Q q 0 0 0 rg BT 553.67 587.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 575.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 108.86 575.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.86 575.10 Td (. ) Tj ET Q q 0 0 0 rg BT 134.14 575.10 Td ( ) Tj ET Q q 0 0 0 rg BT 136.91 575.10 Td (Management ) Tj ET Q q 0 0 0 rg BT 191.89 575.10 Td (believes ) Tj ET Q q 0 0 0 rg BT 227.43 575.10 Td (that ) Tj ET Q q 0 0 0 rg BT 245.20 575.10 Td (this ) Tj ET Q q 0 0 0 rg BT 262.42 575.10 Td (estimate ) Tj ET Q q 0 0 0 rg BT 298.52 575.10 Td (is ) Tj ET Q q 0 0 0 rg BT 307.97 575.10 Td (reasonable, ) Tj ET Q q 0 0 0 rg BT 356.00 575.10 Td (but ) Tj ET Q q 0 0 0 rg BT 371.55 575.10 Td (there ) Tj ET Q q 0 0 0 rg BT 394.31 575.10 Td (can ) Tj ET Q q 0 0 0 rg BT 410.96 575.10 Td (be ) Tj ET Q q 0 0 0 rg BT 423.18 575.10 Td (no ) Tj ET Q q 0 0 0 rg BT 435.95 575.10 Td (assurance ) Tj ET Q q 0 0 0 rg BT 477.60 575.10 Td (that ) Tj ET Q q 0 0 0 rg BT 495.37 575.10 Td (the ) Tj ET Q q 0 0 0 rg BT 510.36 575.10 Td (estimate ) Tj ET Q q 0 0 0 rg BT 546.46 575.10 Td (will ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 563.10 Td (not ) Tj ET Q q 0 0 0 rg BT 65.21 563.10 Td (change ) Tj ET Q q 0 0 0 rg BT 95.95 563.10 Td (as ) Tj ET Q q 0 0 0 rg BT 106.71 563.10 Td (a ) Tj ET Q q 0 0 0 rg BT 113.58 563.10 Td (result ) Tj ET Q q 0 0 0 rg BT 138.23 563.10 Td (of ) Tj ET Q q 0 0 0 rg BT 148.98 563.10 Td (a ) Tj ET Q q 0 0 0 rg BT 155.85 563.10 Td (change ) Tj ET Q q 0 0 0 rg BT 186.60 563.10 Td (in ) Tj ET Q q 0 0 0 rg BT 196.80 563.10 Td (economic ) Tj ET Q q 0 0 0 rg BT 238.11 563.10 Td (conditions ) Tj ET Q q 0 0 0 rg BT 282.20 563.10 Td (or ) Tj ET Q q 0 0 0 rg BT 292.96 563.10 Td (business ) Tj ET Q q 0 0 0 rg BT 329.28 563.10 Td (conditions ) Tj ET Q q 0 0 0 rg BT 373.37 563.10 Td (within ) Tj ET Q q 0 0 0 rg BT 401.36 563.10 Td (the ) Tj ET Q q 0 0 0 rg BT 416.01 563.10 Td (industry) Tj ET Q q 0 0 0 rg BT 448.13 563.10 Td (, ) Tj ET Q q 0 0 0 rg BT 453.06 563.10 Td (the ) Tj ET Q q 0 0 0 rg BT 467.71 563.10 Td (individual ) Tj ET Q q 0 0 0 rg BT 510.69 563.10 Td (customers ) Tj ET Q q 0 0 0 rg BT 553.67 563.10 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 551.10 Td (the ) Tj ET Q q 0 0 0 rg BT 66.17 551.10 Td (Company) Tj ET Q q 0 0 0 rg BT 104.40 551.10 Td (. ) Tj ET Q q 0 0 0 rg BT 110.86 551.10 Td ( ) Tj ET Q q 0 0 0 rg BT 113.93 551.10 Td (Any ) Tj ET Q q 0 0 0 rg BT 135.11 551.10 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 186.83 551.10 Td (to ) Tj ET Q q 0 0 0 rg BT 198.56 551.10 Td (this ) Tj ET Q q 0 0 0 rg BT 216.96 551.10 Td (account ) Tj ET Q q 0 0 0 rg BT 252.00 551.10 Td (are ) Tj ET Q q 0 0 0 rg BT 268.16 551.10 Td (reflected ) Tj ET Q q 0 0 0 rg BT 307.08 551.10 Td (in ) Tj ET Q q 0 0 0 rg BT 318.81 551.10 Td (the ) Tj ET Q q 0 0 0 rg BT 334.98 551.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 389.47 551.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 435.63 551.10 Td (of ) Tj ET Q q 0 0 0 rg BT 447.91 551.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 493.52 551.10 Td (as ) Tj ET Q q 0 0 0 rg BT 505.80 551.10 Td (a ) Tj ET Q q 0 0 0 rg BT 514.19 551.10 Td (general ) Tj ET Q q 0 0 0 rg BT 547.56 551.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 539.10 Td (administrative ) Tj ET Q q 0 0 0 rg BT 109.67 539.10 Td (expense. ) Tj ET Q q 0 0 0 rg BT 146.85 539.10 Td (Bad ) Tj ET Q q 0 0 0 rg BT 165.42 539.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 185.11 539.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 219.78 539.10 Td (was ) Tj ET Q q 0 0 0 rg BT 237.80 539.10 Td (less ) Tj ET Q q 0 0 0 rg BT 255.27 539.10 Td (than ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.95 539.10 Td (1%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.28 539.10 Td ( ) Tj ET Q q 0 0 0 rg BT 290.75 539.10 Td (of ) Tj ET Q q 0 0 0 rg BT 301.55 539.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 335.66 539.10 Td (for ) Tj ET Q q 0 0 0 rg BT 349.79 539.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.47 539.10 Td (three ) Tj ET Q q 0 0 0 rg BT 386.92 539.10 Td (and ) Tj ET Q q 0 0 0 rg BT 403.83 539.10 Td (nine ) Tj ET Q q 0 0 0 rg BT 423.51 539.10 Td (months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.96 539.10 Td ( ) Tj ET Q q 0 0 0 rg BT 455.43 539.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.77 539.10 Td (September30, ) Tj ET Q q 0 0 0 rg BT 542.01 539.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 562.01 539.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 527.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.94 527.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.94 527.10 Td (. ) Tj ET Q q 0 0 0 rg BT 91.94 527.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 515.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 503.10 Td (Concentrations ) Tj ET Q q 0 0 0 rg BT 113.23 503.10 Td (of ) Tj ET Q q 0 0 0 rg BT 124.25 503.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 149.70 503.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 167.39 503.10 Td (with ) Tj ET Q q 0 0 0 rg BT 187.86 503.10 Td (respect ) Tj ET Q q 0 0 0 rg BT 218.87 503.10 Td (to ) Tj ET Q q 0 0 0 rg BT 229.33 503.10 Td (accounts ) Tj ET Q q 0 0 0 rg BT 267.01 503.10 Td (receivable ) Tj ET Q q 0 0 0 rg BT 310.78 503.10 Td (are ) Tj ET Q q 0 0 0 rg BT 325.67 503.10 Td (typically ) Tj ET Q q 0 0 0 rg BT 363.35 503.10 Td (limited ) Tj ET Q q 0 0 0 rg BT 394.37 503.10 Td (because ) Tj ET Q q 0 0 0 rg BT 428.71 503.10 Td (a ) Tj ET Q q 0 0 0 rg BT 435.84 503.10 Td (lar) Tj ET Q q 0 0 0 rg BT 446.20 503.10 Td (ge ) Tj ET Q q 0 0 0 rg BT 458.33 503.10 Td (number ) Tj ET Q q 0 0 0 rg BT 491.57 503.10 Td (of ) Tj ET Q q 0 0 0 rg BT 502.59 503.10 Td (geographically ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 491.10 Td (diverse ) Tj ET Q q 0 0 0 rg BT 81.26 491.10 Td (customers ) Tj ET Q q 0 0 0 rg BT 124.19 491.10 Td (make ) Tj ET Q q 0 0 0 rg BT 148.22 491.10 Td (up ) Tj ET Q q 0 0 0 rg BT 160.61 491.10 Td (the ) Tj ET Q q 0 0 0 rg BT 175.21 491.10 Td (Company) Tj ET Q q 0 0 0 rg BT 216.87 491.10 Td (s ) Tj ET Q q 0 0 0 rg BT 223.14 491.10 Td (customer ) Tj ET Q q 0 0 0 rg BT 262.18 491.10 Td (base, ) Tj ET Q q 0 0 0 rg BT 284.83 491.10 Td (thus ) Tj ET Q q 0 0 0 rg BT 303.88 491.10 Td (spreading ) Tj ET Q q 0 0 0 rg BT 345.14 491.10 Td (the ) Tj ET Q q 0 0 0 rg BT 359.74 491.10 Td (trade ) Tj ET Q q 0 0 0 rg BT 382.11 491.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 407.25 491.10 Td (risk. ) Tj ET Q q 0 0 0 rg BT 426.96 491.10 Td (The ) Tj ET Q q 0 0 0 rg BT 444.89 491.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 486.16 491.10 Td (also ) Tj ET Q q 0 0 0 rg BT 504.65 491.10 Td (controls ) Tj ET Q q 0 0 0 rg BT 539.25 491.10 Td (credit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 479.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 67.12 479.10 Td (through ) Tj ET Q q 0 0 0 rg BT 100.35 479.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 125.24 479.10 Td (approvals, ) Tj ET Q q 0 0 0 rg BT 168.74 479.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 193.62 479.10 Td (limits ) Tj ET Q q 0 0 0 rg BT 218.53 479.10 Td (and ) Tj ET Q q 0 0 0 rg BT 235.09 479.10 Td (monitoring ) Tj ET Q q 0 0 0 rg BT 281.65 479.10 Td (procedures. ) Tj ET Q q 0 0 0 rg BT 329.99 479.10 Td (The ) Tj ET Q q 0 0 0 rg BT 347.65 479.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 388.66 479.10 Td (performs ) Tj ET Q q 0 0 0 rg BT 426.88 479.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 451.77 479.10 Td (evaluations ) Tj ET Q q 0 0 0 rg BT 499.43 479.10 Td (of ) Tj ET Q q 0 0 0 rg BT 509.88 479.10 Td (its ) Tj ET Q q 0 0 0 rg BT 521.45 479.10 Td (customers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 467.10 Td (but ) Tj ET Q q 0 0 0 rg BT 65.15 467.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 104.72 467.10 Td (does ) Tj ET Q q 0 0 0 rg BT 125.43 467.10 Td (not ) Tj ET Q q 0 0 0 rg BT 140.58 467.10 Td (require ) Tj ET Q q 0 0 0 rg BT 171.26 467.10 Td (collateral ) Tj ET Q q 0 0 0 rg BT 210.83 467.10 Td (to ) Tj ET Q q 0 0 0 rg BT 220.98 467.10 Td (support ) Tj ET Q q 0 0 0 rg BT 253.36 467.10 Td (accounts ) Tj ET Q q 0 0 0 rg BT 290.71 467.10 Td (receivable. ) Tj ET Q q 0 0 0 rg BT 336.67 467.10 Td ( ) Tj ET Q q 0 0 0 rg BT 338.51 467.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.89 467.10 Td (September30, ) Tj ET Q q 0 0 0 rg BT 411.02 467.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.02 467.10 Td (, ) Tj ET Q q 0 0 0 rg BT 435.89 467.10 Td (the ) Tj ET Q q 0 0 0 rg BT 450.48 467.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 491.74 467.10 Td (had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.55 467.10 Td (one) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.99 467.10 Td ( ) Tj ET Q q 0 0 0 rg BT 525.36 467.10 Td (customer ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 455.10 Td (which ) Tj ET Q q 0 0 0 rg BT 76.77 455.10 Td (accounted ) Tj ET Q q 0 0 0 rg BT 119.64 455.10 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.64 455.10 Td (12%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.97 455.10 Td ( ) Tj ET Q q 0 0 0 rg BT 154.30 455.10 Td (of ) Tj ET Q q 0 0 0 rg BT 164.97 455.10 Td (total ) Tj ET Q q 0 0 0 rg BT 185.08 455.10 Td (accounts ) Tj ET Q q 0 0 0 rg BT 222.40 455.10 Td (receivable ) Tj ET Q q 0 0 0 rg BT 265.81 455.10 Td (in ) Tj ET Q q 0 0 0 rg BT 275.93 455.10 Td (the ) Tj ET Q q 0 0 0 rg BT 290.48 455.10 Td (aggregate. ) Tj ET Q q 0 0 0 rg BT 334.18 455.10 Td ( ) Tj ET Q q 0 0 0 rg BT 336.00 455.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.33 455.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 406.75 455.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.75 455.10 Td (, ) Tj ET Q q 0 0 0 rg BT 431.59 455.10 Td (the ) Tj ET Q q 0 0 0 rg BT 446.14 455.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 487.36 455.10 Td (had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.13 455.10 Td (two) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.13 455.10 Td ( ) Tj ET Q q 0 0 0 rg BT 521.47 455.10 Td (customers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 443.10 Td (which ) Tj ET Q q 0 0 0 rg BT 76.98 443.10 Td (accounted ) Tj ET Q q 0 0 0 rg BT 120.05 443.10 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 134.25 443.10 Td (29%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 152.58 443.10 Td ( ) Tj ET Q q 0 0 0 rg BT 155.11 443.10 Td (of ) Tj ET Q q 0 0 0 rg BT 165.98 443.10 Td (total ) Tj ET Q q 0 0 0 rg BT 186.29 443.10 Td (accounts ) Tj ET Q q 0 0 0 rg BT 223.82 443.10 Td (receivable ) Tj ET Q q 0 0 0 rg BT 267.43 443.10 Td (in ) Tj ET Q q 0 0 0 rg BT 277.75 443.10 Td (the ) Tj ET Q q 0 0 0 rg BT 292.50 443.10 Td (aggregate. ) Tj ET Q q 0 0 0 rg BT 336.22 443.10 Td (The ) Tj ET Q q 0 0 0 rg BT 354.31 443.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 395.73 443.10 Td (had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.71 443.10 Td (one) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.15 443.10 Td ( ) Tj ET Q q 0 0 0 rg BT 429.68 443.10 Td (customer ) Tj ET Q q 0 0 0 rg BT 468.88 443.10 Td (that ) Tj ET Q q 0 0 0 rg BT 486.41 443.10 Td (accounted ) Tj ET Q q 0 0 0 rg BT 529.48 443.10 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.68 443.10 Td (14%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 562.01 443.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 431.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.02 431.10 Td (its ) Tj ET Q q 0 0 0 rg BT 71.16 431.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 104.50 431.10 Td (during ) Tj ET Q q 0 0 0 rg BT 132.30 431.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 146.20 431.10 Td (three ) Tj ET Q q 0 0 0 rg BT 167.88 431.10 Td (months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.33 431.10 Td ( ) Tj ET Q q 0 0 0 rg BT 199.02 431.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.59 431.10 Td (September30, ) Tj ET Q q 0 0 0 rg BT 284.04 431.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.04 431.10 Td ( ) Tj ET Q q 0 0 0 rg BT 305.73 431.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.86 431.10 Td (no) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.86 431.10 Td ( ) Tj ET Q q 0 0 0 rg BT 333.55 431.10 Td (customers ) Tj ET Q q 0 0 0 rg BT 375.79 431.10 Td (that ) Tj ET Q q 0 0 0 rg BT 392.48 431.10 Td (accounted ) Tj ET Q q 0 0 0 rg BT 434.70 431.10 Td (for ) Tj ET Q q 0 0 0 rg BT 448.05 431.10 Td (more ) Tj ET Q q 0 0 0 rg BT 470.29 431.10 Td (than ) Tj ET Q q 0 0 0 rg BT 489.20 431.10 Td (10% ) Tj ET Q q 0 0 0 rg BT 509.22 431.10 Td (of ) Tj ET Q q 0 0 0 rg BT 519.24 431.10 Td (its ) Tj ET Q q 0 0 0 rg BT 530.38 431.10 Td (revenue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 419.10 Td (during ) Tj ET Q q 0 0 0 rg BT 78.07 419.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.25 419.10 Td (three ) Tj ET Q q 0 0 0 rg BT 114.20 419.10 Td (months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.64 419.10 Td ( ) Tj ET Q q 0 0 0 rg BT 145.61 419.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.45 419.10 Td (September30, ) Tj ET Q q 0 0 0 rg BT 231.17 419.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.17 419.10 Td (. ) Tj ET Q q 0 0 0 rg BT 255.63 419.10 Td ( ) Tj ET Q q 0 0 0 rg BT 257.45 419.10 Td (The ) Tj ET Q q 0 0 0 rg BT 274.96 419.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 315.81 419.10 Td (had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.21 419.10 Td (one) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.65 419.10 Td ( ) Tj ET Q q 0 0 0 rg BT 348.61 419.10 Td (customer ) Tj ET Q q 0 0 0 rg BT 387.23 419.10 Td (that ) Tj ET Q q 0 0 0 rg BT 404.19 419.10 Td (accounted ) Tj ET Q q 0 0 0 rg BT 446.68 419.10 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.30 419.10 Td (14%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.63 419.10 Td ( ) Tj ET Q q 0 0 0 rg BT 480.59 419.10 Td (of ) Tj ET Q q 0 0 0 rg BT 490.89 419.10 Td (its ) Tj ET Q q 0 0 0 rg BT 502.30 419.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 535.90 419.10 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 407.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.32 407.10 Td (nine ) Tj ET Q q 0 0 0 rg BT 83.65 407.10 Td (months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.10 407.10 Td ( ) Tj ET Q q 0 0 0 rg BT 115.20 407.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.19 407.10 Td (September30, ) Tj ET Q q 0 0 0 rg BT 201.06 407.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.06 407.10 Td ( ) Tj ET Q q 0 0 0 rg BT 223.16 407.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.71 407.10 Td (one) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.15 407.10 Td ( ) Tj ET Q q 0 0 0 rg BT 256.25 407.10 Td (customer ) Tj ET Q q 0 0 0 rg BT 295.02 407.10 Td (that ) Tj ET Q q 0 0 0 rg BT 312.12 407.10 Td (accounted ) Tj ET Q q 0 0 0 rg BT 354.76 407.10 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.53 407.10 Td (10%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.86 407.10 Td ( ) Tj ET Q q 0 0 0 rg BT 388.96 407.10 Td (of ) Tj ET Q q 0 0 0 rg BT 399.40 407.10 Td (its ) Tj ET Q q 0 0 0 rg BT 410.95 407.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 444.71 407.10 Td (during ) Tj ET Q q 0 0 0 rg BT 472.92 407.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.25 407.10 Td (nine ) Tj ET Q q 0 0 0 rg BT 506.57 407.10 Td (months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.02 407.10 Td ( ) Tj ET Q q 0 0 0 rg BT 538.13 407.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 395.10 Td (September30, ) Tj ET Q q 0 0 0 rg BT 110.26 395.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.26 395.10 Td (. ) Tj ET Q q 0 0 0 rg BT 135.26 395.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 50 369.53505859375 m 159.55078125 369.53505859375 l s q 0 0 0 rg BT 50.00 371.10 Td (Pr) Tj ET Q q 0 0 0 rg BT 60.37 371.10 Td (operty ) Tj ET Q q 0 0 0 rg BT 90.63 371.10 Td (and ) Tj ET Q q 0 0 0 rg BT 109.26 371.10 Td (Equipment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 359.10 Td (Depreciation ) Tj ET Q q 0 0 0 rg BT 103.89 359.10 Td (and ) Tj ET Q q 0 0 0 rg BT 120.58 359.10 Td (amortization ) Tj ET Q q 0 0 0 rg BT 173.36 359.10 Td (is ) Tj ET Q q 0 0 0 rg BT 182.28 359.10 Td (computed ) Tj ET Q q 0 0 0 rg BT 223.96 359.10 Td (using ) Tj ET Q q 0 0 0 rg BT 247.88 359.10 Td (the ) Tj ET Q q 0 0 0 rg BT 262.35 359.10 Td (straight-line ) Tj ET Q q 0 0 0 rg BT 312.92 359.10 Td (method ) Tj ET Q q 0 0 0 rg BT 345.16 359.10 Td (over ) Tj ET Q q 0 0 0 rg BT 365.18 359.10 Td (the ) Tj ET Q q 0 0 0 rg BT 379.64 359.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 420.21 359.10 Td (useful ) Tj ET Q q 0 0 0 rg BT 446.90 359.10 Td (lives ) Tj ET Q q 0 0 0 rg BT 468.03 359.10 Td (of ) Tj ET Q q 0 0 0 rg BT 478.61 359.10 Td (the ) Tj ET Q q 0 0 0 rg BT 493.08 359.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 518.65 359.10 Td (as ) Tj ET Q q 0 0 0 rg BT 529.23 359.10 Td (follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 345.60 455.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 345.60 57.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 317.60 455.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 317.60 57.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 289.60 455.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.50 289.60 57.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 345.6 m 50.5 331.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 345.6 m 505.5 345.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 562.5 345.6 m 562.5 331.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 345.6 m 562.5 345.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 331.6 m 50.5 317.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 562.5 331.6 m 562.5 317.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 317.6 m 50.5 303.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 562.5 317.6 m 562.5 303.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 303.6 m 50.5 289.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 562.5 303.6 m 562.5 289.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 289.6 m 50.5 275.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 275.6 m 505.5 275.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 562.5 289.6 m 562.5 275.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.5 275.6 m 562.5 275.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 336.17 Td (Computer Equipment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.40 336.17 Td (3 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 322.17 Td (Software Costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.40 322.17 Td (3 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 308.17 Td (Office Equipment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.05 308.17 Td (3 - 10 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 294.17 Td (Furniture and Fixtures) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.05 294.17 Td (5 - 10 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 280.17 Td (Leasehold Improvements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.40 280.17 Td (5 years) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 252.10 Td (Major ) Tj ET Q q 0 0 0 rg BT 76.54 252.10 Td (additions ) Tj ET Q q 0 0 0 rg BT 115.30 252.10 Td (and ) Tj ET Q q 0 0 0 rg BT 131.84 252.10 Td (improvements ) Tj ET Q q 0 0 0 rg BT 191.15 252.10 Td (are ) Tj ET Q q 0 0 0 rg BT 205.45 252.10 Td (capitalized, ) Tj ET Q q 0 0 0 rg BT 253.36 252.10 Td (while ) Tj ET Q q 0 0 0 rg BT 277.67 252.10 Td (replacements, ) Tj ET Q q 0 0 0 rg BT 335.02 252.10 Td (maintenance ) Tj ET Q q 0 0 0 rg BT 387.65 252.10 Td (and ) Tj ET Q q 0 0 0 rg BT 404.18 252.10 Td (repairs, ) Tj ET Q q 0 0 0 rg BT 435.99 252.10 Td (which ) Tj ET Q q 0 0 0 rg BT 462.53 252.10 Td (do ) Tj ET Q q 0 0 0 rg BT 474.63 252.10 Td (not ) Tj ET Q q 0 0 0 rg BT 489.50 252.10 Td (improve ) Tj ET Q q 0 0 0 rg BT 524.93 252.10 Td (or ) Tj ET Q q 0 0 0 rg BT 535.36 252.10 Td (extend ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 240.10 Td (the ) Tj ET Q q 0 0 0 rg BT 65.52 240.10 Td (life ) Tj ET Q q 0 0 0 rg BT 82.15 240.10 Td (of ) Tj ET Q q 0 0 0 rg BT 93.78 240.10 Td (the ) Tj ET Q q 0 0 0 rg BT 109.30 240.10 Td (respective ) Tj ET Q q 0 0 0 rg BT 153.13 240.10 Td (assets, ) Tj ET Q q 0 0 0 rg BT 182.26 240.10 Td (are ) Tj ET Q q 0 0 0 rg BT 197.77 240.10 Td (expensed ) Tj ET Q q 0 0 0 rg BT 238.28 240.10 Td (as ) Tj ET Q q 0 0 0 rg BT 249.92 240.10 Td (incurred. ) Tj ET Q q 0 0 0 rg BT 288.79 240.10 Td (When ) Tj ET Q q 0 0 0 rg BT 315.97 240.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 342.61 240.10 Td (are ) Tj ET Q q 0 0 0 rg BT 358.12 240.10 Td (retired ) Tj ET Q q 0 0 0 rg BT 387.51 240.10 Td (or ) Tj ET Q q 0 0 0 rg BT 399.14 240.10 Td (otherwise ) Tj ET Q q 0 0 0 rg BT 441.32 240.10 Td (disposed ) Tj ET Q q 0 0 0 rg BT 479.63 240.10 Td (of, ) Tj ET Q q 0 0 0 rg BT 493.76 240.10 Td (related ) Tj ET Q q 0 0 0 rg BT 524.26 240.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 547.56 240.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 228.10 Td (accumulated ) Tj ET Q q 0 0 0 rg BT 103.26 228.10 Td (depreciation ) Tj ET Q q 0 0 0 rg BT 155.41 228.10 Td (and ) Tj ET Q q 0 0 0 rg BT 172.58 228.10 Td (amortization ) Tj ET Q q 0 0 0 rg BT 225.85 228.10 Td (are ) Tj ET Q q 0 0 0 rg BT 240.79 228.10 Td (removed ) Tj ET Q q 0 0 0 rg BT 278.51 228.10 Td (and ) Tj ET Q q 0 0 0 rg BT 295.68 228.10 Td (any ) Tj ET Q q 0 0 0 rg BT 312.85 228.10 Td (gain ) Tj ET Q q 0 0 0 rg BT 332.80 228.10 Td (or ) Tj ET Q q 0 0 0 rg BT 343.86 228.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 362.15 228.10 Td (is ) Tj ET Q q 0 0 0 rg BT 371.55 228.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 418.15 228.10 Td (in ) Tj ET Q q 0 0 0 rg BT 428.66 228.10 Td (net ) Tj ET Q q 0 0 0 rg BT 443.61 228.10 Td (income ) Tj ET Q q 0 0 0 rg BT 475.77 228.10 Td (or ) Tj ET Q q 0 0 0 rg BT 486.83 228.10 Td (loss. ) Tj ET Q q 0 0 0 rg BT 507.63 228.10 Td ( ) Tj ET Q q 0 0 0 rg BT 510.36 228.10 Td (Depreciation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 216.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 84.52 216.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 121.80 216.10 Td (in ) Tj ET Q q 0 0 0 rg BT 131.89 216.10 Td (general ) Tj ET Q q 0 0 0 rg BT 163.63 216.10 Td (and ) Tj ET Q q 0 0 0 rg BT 180.38 216.10 Td (administrative ) Tj ET Q q 0 0 0 rg BT 239.90 216.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 274.41 216.10 Td (in ) Tj ET Q q 0 0 0 rg BT 284.50 216.10 Td (the ) Tj ET Q q 0 0 0 rg BT 299.03 216.10 Td (accompanying ) Tj ET Q q 0 0 0 rg BT 359.65 216.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 412.51 216.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 457.03 216.10 Td (of ) Tj ET Q q 0 0 0 rg BT 467.67 216.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 511.64 216.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.50 216.10 Td ($53,337) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 562.00 216.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 204.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.22 204.10 Td ($24,903) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.72 204.10 Td ( ) Tj ET Q q 0 0 0 rg BT 102.50 204.10 Td (for ) Tj ET Q q 0 0 0 rg BT 116.94 204.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.94 204.10 Td (three ) Tj ET Q q 0 0 0 rg BT 154.70 204.10 Td (months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.15 204.10 Td ( ) Tj ET Q q 0 0 0 rg BT 186.93 204.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 213.59 204.10 Td (September30, ) Tj ET Q q 0 0 0 rg BT 274.14 204.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.14 204.10 Td ( ) Tj ET Q q 0 0 0 rg BT 296.92 204.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.14 204.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.14 204.10 Td (, ) Tj ET Q q 0 0 0 rg BT 339.42 204.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 387.08 204.10 Td (. ) Tj ET Q q 0 0 0 rg BT 394.86 204.10 Td (Depreciation ) Tj ET Q q 0 0 0 rg BT 449.28 204.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 484.27 204.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 522.02 204.10 Td (in ) Tj ET Q q 0 0 0 rg BT 532.58 204.10 Td (general ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 192.10 Td (and ) Tj ET Q q 0 0 0 rg BT 67.31 192.10 Td (administrative ) Tj ET Q q 0 0 0 rg BT 127.40 192.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 162.48 192.10 Td (in ) Tj ET Q q 0 0 0 rg BT 173.13 192.10 Td (the ) Tj ET Q q 0 0 0 rg BT 188.23 192.10 Td (accompanying ) Tj ET Q q 0 0 0 rg BT 249.41 192.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 302.83 192.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 347.92 192.10 Td (of ) Tj ET Q q 0 0 0 rg BT 359.13 192.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 403.66 192.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.08 192.10 Td ($149,873) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.58 192.10 Td ( ) Tj ET Q q 0 0 0 rg BT 462.46 192.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.78 192.10 Td ($65,683) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.28 192.10 Td ( ) Tj ET Q q 0 0 0 rg BT 515.15 192.10 Td (for ) Tj ET Q q 0 0 0 rg BT 529.69 192.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.78 192.10 Td (nine ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 180.10 Td (months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.45 180.10 Td ( ) Tj ET Q q 0 0 0 rg BT 81.95 180.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.33 180.10 Td (September30, ) Tj ET Q q 0 0 0 rg BT 168.59 180.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.59 180.10 Td ( ) Tj ET Q q 0 0 0 rg BT 191.09 180.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.03 180.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.03 180.10 Td (, ) Tj ET Q q 0 0 0 rg BT 233.03 180.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 280.69 180.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 50 154.53505859375002 m 172.5732421875 154.53505859375002 l s q 0 0 0 rg BT 50.00 156.10 Td (Softwar) Tj ET Q q 0 0 0 rg BT 83.70 156.10 Td (e ) Tj ET Q q 0 0 0 rg BT 90.64 156.10 Td (Development ) Tj ET Q q 0 0 0 rg BT 149.24 156.10 Td (Costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 144.10 Td (In ) Tj ET Q q 0 0 0 rg BT 59.77 144.10 Td (accordance ) Tj ET Q q 0 0 0 rg BT 106.17 144.10 Td (with ) Tj ET Q q 0 0 0 rg BT 125.07 144.10 Td (ASC ) Tj ET Q q 0 0 0 rg BT 145.96 144.10 Td (350-40,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 176.79 144.10 Td ( ) Tj ET Q q 0 0 0 rg BT 178.23 144.10 Td (Internal ) Tj ET Q q 0 0 0 rg BT 211.89 144.10 Td (Use ) Tj ET Q q 0 0 0 rg BT 228.88 144.10 Td (Softwar) Tj ET Q q 0 0 0 rg BT 259.63 144.10 Td (e) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.06 144.10 Td ( ) Tj ET Q q 0 0 0 rg BT 265.50 144.10 Td (and ) Tj ET Q q 0 0 0 rg BT 281.06 144.10 Td (ASC ) Tj ET Q q 0 0 0 rg BT 301.96 144.10 Td (985-730, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 339.23 144.10 Td (Computer ) Tj ET Q q 0 0 0 rg BT 380.67 144.10 Td (Softwar) Tj ET Q q 0 0 0 rg BT 411.41 144.10 Td (e ) Tj ET Q q 0 0 0 rg BT 417.29 144.10 Td (Resear) Tj ET Q q 0 0 0 rg BT 444.69 144.10 Td (ch ) Tj ET Q q 0 0 0 rg BT 455.57 144.10 Td (and ) Tj ET Q q 0 0 0 rg BT 472.01 144.10 Td (Development) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.76 144.10 Td (, ) Tj ET Q q 0 0 0 rg BT 528.70 144.10 Td (research ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 132.10 Td (phase ) Tj ET Q q 0 0 0 rg BT 74.71 132.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 96.65 132.10 Td (related ) Tj ET Q q 0 0 0 rg BT 125.80 132.10 Td (to ) Tj ET Q q 0 0 0 rg BT 135.52 132.10 Td (internal ) Tj ET Q q 0 0 0 rg BT 168.00 132.10 Td (use ) Tj ET Q q 0 0 0 rg BT 183.28 132.10 Td (software ) Tj ET Q q 0 0 0 rg BT 219.65 132.10 Td (should ) Tj ET Q q 0 0 0 rg BT 248.26 132.10 Td (be ) Tj ET Q q 0 0 0 rg BT 259.64 132.10 Td (expensed ) Tj ET Q q 0 0 0 rg BT 298.79 132.10 Td (as ) Tj ET Q q 0 0 0 rg BT 309.06 132.10 Td (incurred ) Tj ET Q q 0 0 0 rg BT 344.32 132.10 Td (and ) Tj ET Q q 0 0 0 rg BT 360.70 132.10 Td (development ) Tj ET Q q 0 0 0 rg BT 414.29 132.10 Td (phase ) Tj ET Q q 0 0 0 rg BT 439.00 132.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 460.95 132.10 Td (including ) Tj ET Q q 0 0 0 rg BT 500.66 132.10 Td (direct ) Tj ET Q q 0 0 0 rg BT 525.37 132.10 Td (materials ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 120.10 Td (and ) Tj ET Q q 0 0 0 rg BT 67.55 120.10 Td (services, ) Tj ET Q q 0 0 0 rg BT 105.37 120.10 Td (payroll ) Tj ET Q q 0 0 0 rg BT 136.81 120.10 Td (and ) Tj ET Q q 0 0 0 rg BT 154.37 120.10 Td (benefits ) Tj ET Q q 0 0 0 rg BT 189.14 120.10 Td (and ) Tj ET Q q 0 0 0 rg BT 206.69 120.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 239.24 120.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 262.35 120.10 Td (may ) Tj ET Q q 0 0 0 rg BT 282.68 120.10 Td (be ) Tj ET Q q 0 0 0 rg BT 295.23 120.10 Td (capitalized. ) Tj ET Q q 0 0 0 rg BT 344.15 120.10 Td ( ) Tj ET Q q 0 0 0 rg BT 347.04 120.10 Td (The ) Tj ET Q q 0 0 0 rg BT 365.70 120.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 407.71 120.10 Td (amortizes ) Tj ET Q q 0 0 0 rg BT 449.69 120.10 Td (software ) Tj ET Q q 0 0 0 rg BT 487.23 120.10 Td (development ) Tj ET Q q 0 0 0 rg BT 542.00 120.10 Td (costs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 108.10 Td (equally ) Tj ET Q q 0 0 0 rg BT 81.64 108.10 Td (over ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.61 108.10 Td (5 ) Tj ET Q q 0 0 0 rg BT 108.82 108.10 Td (years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.92 108.10 Td ( ) Tj ET Q q 0 0 0 rg BT 132.13 108.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 154.33 108.10 Td (initial ) Tj ET Q q 0 0 0 rg BT 179.87 108.10 Td (launch ) Tj ET Q q 0 0 0 rg BT 208.73 108.10 Td (of ) Tj ET Q q 0 0 0 rg BT 219.26 108.10 Td (the ) Tj ET Q q 0 0 0 rg BT 233.69 108.10 Td (software. ) Tj ET Q q 0 0 0 rg BT 272.82 108.10 Td ( ) Tj ET Q q 0 0 0 rg BT 274.54 108.10 Td (Amortization ) Tj ET Q q 0 0 0 rg BT 330.07 108.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 364.48 108.10 Td (is ) Tj ET Q q 0 0 0 rg BT 373.36 108.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 411.09 108.10 Td (to ) Tj ET Q q 0 0 0 rg BT 421.08 108.10 Td (be ) Tj ET Q q 0 0 0 rg BT 432.72 108.10 Td (approximately ) Tj ET Q q 0 0 0 rg BT 492.69 108.10 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.69 108.10 Td (1) Tj ET Q q 0 0 0 rg BT 502.32 108.10 Td (17,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.82 108.10 Td ( ) Tj ET Q q 0 0 0 rg BT 532.02 108.10 Td (in ) Tj ET Q q 0 0 0 rg BT 542.01 108.10 Td (2015 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 96.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.42 96.10 Td (for ) Tj ET Q q 0 0 0 rg BT 80.06 96.10 Td (the ) Tj ET Q q 0 0 0 rg BT 94.26 96.10 Td (next ) Tj ET Q q 0 0 0 rg BT 113.46 96.10 Td (three ) Tj ET Q q 0 0 0 rg BT 135.42 96.10 Td (years ) Tj ET Q q 0 0 0 rg BT 158.50 96.10 Td (and ) Tj ET Q q 0 0 0 rg BT 174.92 96.10 Td (then ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.12 96.10 Td ($33,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.62 96.10 Td ( ) Tj ET Q q 0 0 0 rg BT 228.60 96.10 Td (thereafter) Tj ET Q q 0 0 0 rg BT 266.35 96.10 Td (. ) Tj ET Q q 0 0 0 rg BT 270.83 96.10 Td ( ) Tj ET Q q 0 0 0 rg BT 272.38 96.10 Td (Amortization ) Tj ET Q q 0 0 0 rg BT 327.68 96.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 361.87 96.10 Td (on ) Tj ET Q q 0 0 0 rg BT 373.85 96.10 Td (software ) Tj ET Q q 0 0 0 rg BT 410.26 96.10 Td (development ) Tj ET Q q 0 0 0 rg BT 463.89 96.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 485.87 96.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 522.83 96.10 Td (in ) Tj ET Q q 0 0 0 rg BT 532.59 96.10 Td (general ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 84.10 Td (and ) Tj ET Q q 0 0 0 rg BT 67.46 84.10 Td (administrative ) Tj ET Q q 0 0 0 rg BT 127.68 84.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 162.90 84.10 Td (in ) Tj ET Q q 0 0 0 rg BT 173.70 84.10 Td (the ) Tj ET Q q 0 0 0 rg BT 188.93 84.10 Td (accompanying ) Tj ET Q q 0 0 0 rg BT 250.26 84.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 303.82 84.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 349.04 84.10 Td (of ) Tj ET Q q 0 0 0 rg BT 360.39 84.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 405.06 84.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.63 84.10 Td ($28,966) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.13 84.10 Td ( ) Tj ET Q q 0 0 0 rg BT 459.15 84.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.60 84.10 Td ($47,406) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.10 84.10 Td ( ) Tj ET Q q 0 0 0 rg BT 512.12 84.10 Td (for ) Tj ET Q q 0 0 0 rg BT 526.80 84.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.03 84.10 Td (three ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 72.10 Td (months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.45 72.10 Td ( ) Tj ET Q q 0 0 0 rg BT 82.79 72.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.02 72.10 Td (September30, ) Tj ET Q q 0 0 0 rg BT 171.13 72.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.13 72.10 Td ( ) Tj ET Q q 0 0 0 rg BT 194.47 72.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.26 72.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.26 72.10 Td (, ) Tj ET Q q 0 0 0 rg BT 238.10 72.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 285.77 72.10 Td (. ) Tj ET Q q 0 0 0 rg BT 291.61 72.10 Td ( ) Tj ET Q q 0 0 0 rg BT 294.22 72.10 Td (Amortization ) Tj ET Q q 0 0 0 rg BT 350.89 72.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 386.44 72.10 Td (on ) Tj ET Q q 0 0 0 rg BT 399.79 72.10 Td (software ) Tj ET Q q 0 0 0 rg BT 437.56 72.10 Td (development ) Tj ET Q q 0 0 0 rg BT 492.56 72.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 515.90 72.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 554.22 72.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 60.10 Td (general ) Tj ET Q q 0 0 0 rg BT 81.85 60.10 Td (and ) Tj ET Q q 0 0 0 rg BT 98.71 60.10 Td (administrative ) Tj ET Q q 0 0 0 rg BT 158.35 60.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 192.98 60.10 Td (in ) Tj ET Q q 0 0 0 rg BT 203.18 60.10 Td (the ) Tj ET Q q 0 0 0 rg BT 217.83 60.10 Td (accompanying ) Tj ET Q q 0 0 0 rg BT 278.56 60.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 331.53 60.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 376.17 60.10 Td (of ) Tj ET Q q 0 0 0 rg BT 386.92 60.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 431.00 60.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.98 60.10 Td ($85,854) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.48 60.10 Td ( ) Tj ET Q q 0 0 0 rg BT 483.91 60.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.77 60.10 Td ($94,812) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.27 60.10 Td ( ) Tj ET Q q 0 0 0 rg BT 535.70 60.10 Td (for ) Tj ET Q q 0 0 0 rg BT 549.78 60.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 48.10 Td (nine ) Tj ET Q q 0 0 0 rg BT 69.72 48.10 Td (months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.17 48.10 Td ( ) Tj ET Q q 0 0 0 rg BT 101.67 48.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.04 48.10 Td (September30, ) Tj ET Q q 0 0 0 rg BT 188.31 48.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.31 48.10 Td ( ) Tj ET Q q 0 0 0 rg BT 210.81 48.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.74 48.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.74 48.10 Td (, ) Tj ET Q q 0 0 0 rg BT 252.74 48.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 300.41 48.10 Td (. ) Tj ET Q q 0 0 0 rg BT 305.41 48.10 Td ( ) Tj ET Q endstream endobj 19 0 obj <> endobj 20 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 283.05 772.75 Td (IZEA, Inc.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 181.55 760.75 Td (Notes to the Unaudited Consolidated Financial Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (7) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 50 717.53505859375 m 122.5146484375 717.53505859375 l s q 0 0 0 rg BT 50.00 719.10 Td (Intangible ) Tj ET Q q 0 0 0 rg BT 95.85 719.10 Td (Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 707.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.83 707.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 109.00 707.10 Td (acquired ) Tj ET Q q 0 0 0 rg BT 145.71 707.10 Td (intangible ) Tj ET Q q 0 0 0 rg BT 187.98 707.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 213.59 707.10 Td (through ) Tj ET Q q 0 0 0 rg BT 246.98 707.10 Td (its ) Tj ET Q q 0 0 0 rg BT 258.71 707.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 304.88 707.10 Td (of ) Tj ET Q q 0 0 0 rg BT 315.49 707.10 Td (Ebyline ) Tj ET Q q 0 0 0 rg BT 348.88 707.10 Td (on ) Tj ET Q q 0 0 0 rg BT 361.16 707.10 Td (January ) Tj ET Q q 0 0 0 rg BT 394.54 707.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 409.32 707.10 Td (2015. ) Tj ET Q q 0 0 0 rg BT 434.11 707.10 Td ( ) Tj ET Q q 0 0 0 rg BT 436.22 707.10 Td (The ) Tj ET Q q 0 0 0 rg BT 454.05 707.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 495.22 707.10 Td (is ) Tj ET Q q 0 0 0 rg BT 504.18 707.10 Td (amortizing ) Tj ET Q q 0 0 0 rg BT 549.78 707.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 695.10 Td (identifiable ) Tj ET Q q 0 0 0 rg BT 98.04 695.10 Td (intangible ) Tj ET Q q 0 0 0 rg BT 140.53 695.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 166.36 695.10 Td (over ) Tj ET Q q 0 0 0 rg BT 186.63 695.10 Td (a ) Tj ET Q q 0 0 0 rg BT 193.56 695.10 Td (period ) Tj ET Q q 0 0 0 rg BT 221.61 695.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.44 695.10 Td (12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.44 695.10 Td ( ) Tj ET Q q 0 0 0 rg BT 244.94 695.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.22 695.10 Td (60) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.22 695.10 Td ( ) Tj ET Q q 0 0 0 rg BT 267.72 695.10 Td (months. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 50 669.53505859375 m 88.896484375 669.53505859375 l s q 0 0 0 rg BT 50.00 671.10 Td (Goodwill) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 659.10 Td (Goodwill ) Tj ET Q q 0 0 0 rg BT 90.82 659.10 Td (represents ) Tj ET Q q 0 0 0 rg BT 134.39 659.10 Td (the ) Tj ET Q q 0 0 0 rg BT 149.65 659.10 Td (excess ) Tj ET Q q 0 0 0 rg BT 178.79 659.10 Td (of ) Tj ET Q q 0 0 0 rg BT 190.15 659.10 Td (the ) Tj ET Q q 0 0 0 rg BT 205.41 659.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 243.98 659.10 Td (consideration ) Tj ET Q q 0 0 0 rg BT 300.90 659.10 Td (of ) Tj ET Q q 0 0 0 rg BT 312.26 659.10 Td (an ) Tj ET Q q 0 0 0 rg BT 324.74 659.10 Td (acquired ) Tj ET Q q 0 0 0 rg BT 362.20 659.10 Td (business ) Tj ET Q q 0 0 0 rg BT 399.13 659.10 Td (over ) Tj ET Q q 0 0 0 rg BT 419.94 659.10 Td (the ) Tj ET Q q 0 0 0 rg BT 435.20 659.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 452.11 659.10 Td (value ) Tj ET Q q 0 0 0 rg BT 476.81 659.10 Td (of ) Tj ET Q q 0 0 0 rg BT 488.17 659.10 Td (the ) Tj ET Q q 0 0 0 rg BT 503.43 659.10 Td (underlying ) Tj ET Q q 0 0 0 rg BT 549.79 659.10 Td (net ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 647.10 Td (tangible ) Tj ET Q q 0 0 0 rg BT 85.18 647.10 Td (and ) Tj ET Q q 0 0 0 rg BT 102.58 647.10 Td (intangible ) Tj ET Q q 0 0 0 rg BT 145.54 647.10 Td (assets. ) Tj ET Q q 0 0 0 rg BT 174.33 647.10 Td (In ) Tj ET Q q 0 0 0 rg BT 185.63 647.10 Td (accordance ) Tj ET Q q 0 0 0 rg BT 233.55 647.10 Td (with ) Tj ET Q q 0 0 0 rg BT 253.64 647.10 Td (ASC ) Tj ET Q q 0 0 0 rg BT 275.85 647.10 Td (T) Tj ET Q q 0 0 0 rg BT 281.26 647.10 Td (opic ) Tj ET Q q 0 0 0 rg BT 301.44 647.10 Td (350, ) Tj ET Q q 0 0 0 rg BT 321.90 647.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 324.87 647.10 Td (Intangibles ) Tj ET Q q 0 0 0 rg BT 372.83 647.10 Td (- ) Tj ET Q q 0 0 0 rg BT 379.13 647.10 Td (Goodwill ) Tj ET Q q 0 0 0 rg BT 419.32 647.10 Td (and ) Tj ET Q q 0 0 0 rg BT 437.28 647.10 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.61 647.10 Td (, ) Tj ET Q q 0 0 0 rg BT 466.08 647.10 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 504.60 647.10 Td (resulting ) Tj ET Q q 0 0 0 rg BT 542.56 647.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 635.10 Td (business ) Tj ET Q q 0 0 0 rg BT 86.32 635.10 Td (combinations ) Tj ET Q q 0 0 0 rg BT 142.63 635.10 Td (is ) Tj ET Q q 0 0 0 rg BT 151.73 635.10 Td (tested ) Tj ET Q q 0 0 0 rg BT 177.49 635.10 Td (for ) Tj ET Q q 0 0 0 rg BT 191.57 635.10 Td (impairment ) Tj ET Q q 0 0 0 rg BT 240.10 635.10 Td (at ) Tj ET Q q 0 0 0 rg BT 249.75 635.10 Td (least ) Tj ET Q q 0 0 0 rg BT 270.50 635.10 Td (annually ) Tj ET Q q 0 0 0 rg BT 307.37 635.10 Td (or ) Tj ET Q q 0 0 0 rg BT 318.13 635.10 Td (more ) Tj ET Q q 0 0 0 rg BT 341.10 635.10 Td (frequently) Tj ET Q q 0 0 0 rg BT 381.55 635.10 Td (, ) Tj ET Q q 0 0 0 rg BT 386.47 635.10 Td (if ) Tj ET Q q 0 0 0 rg BT 395.01 635.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 424.64 635.10 Td (indicators ) Tj ET Q q 0 0 0 rg BT 466.51 635.10 Td (are ) Tj ET Q q 0 0 0 rg BT 481.14 635.10 Td (present. ) Tj ET Q q 0 0 0 rg BT 514.95 635.10 Td (In ) Tj ET Q q 0 0 0 rg BT 525.71 635.10 Td (the ) Tj ET Q q 0 0 0 rg BT 540.35 635.10 Td (event ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 623.10 Td (that ) Tj ET Q q 0 0 0 rg BT 67.62 623.10 Td (management ) Tj ET Q q 0 0 0 rg BT 121.33 623.10 Td (determines ) Tj ET Q q 0 0 0 rg BT 167.83 623.10 Td (that ) Tj ET Q q 0 0 0 rg BT 185.45 623.10 Td (the ) Tj ET Q q 0 0 0 rg BT 200.29 623.10 Td (value ) Tj ET Q q 0 0 0 rg BT 224.57 623.10 Td (of ) Tj ET Q q 0 0 0 rg BT 235.52 623.10 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 273.71 623.10 Td (has ) Tj ET Q q 0 0 0 rg BT 289.66 623.10 Td (become ) Tj ET Q q 0 0 0 rg BT 323.38 623.10 Td (impaired, ) Tj ET Q q 0 0 0 rg BT 364.05 623.10 Td (the ) Tj ET Q q 0 0 0 rg BT 378.89 623.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 420.40 623.10 Td (will ) Tj ET Q q 0 0 0 rg BT 438.58 623.10 Td (record ) Tj ET Q q 0 0 0 rg BT 466.74 623.10 Td (a ) Tj ET Q q 0 0 0 rg BT 473.80 623.10 Td (char) Tj ET Q q 0 0 0 rg BT 490.83 623.10 Td (ge ) Tj ET Q q 0 0 0 rg BT 502.89 623.10 Td (for ) Tj ET Q q 0 0 0 rg BT 517.18 623.10 Td (the ) Tj ET Q q 0 0 0 rg BT 532.02 623.10 Td (amount ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 611.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.83 611.10 Td (impairment ) Tj ET Q q 0 0 0 rg BT 109.43 611.10 Td (during ) Tj ET Q q 0 0 0 rg BT 138.04 611.10 Td (the ) Tj ET Q q 0 0 0 rg BT 152.75 611.10 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 176.91 611.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 207.72 611.10 Td (in ) Tj ET Q q 0 0 0 rg BT 218.00 611.10 Td (which ) Tj ET Q q 0 0 0 rg BT 244.94 611.10 Td (the ) Tj ET Q q 0 0 0 rg BT 259.66 611.10 Td (determination ) Tj ET Q q 0 0 0 rg BT 317.70 611.10 Td (is ) Tj ET Q q 0 0 0 rg BT 326.87 611.10 Td (made.) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 50 585.53505859375 m 140.2685546875 585.53505859375 l s q 0 0 0 rg BT 50.00 587.10 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 89.16 587.10 Td (Recognition) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 575.10 Td (The ) Tj ET Q q 0 0 0 rg BT 68.57 575.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 110.49 575.10 Td (derives ) Tj ET Q q 0 0 0 rg BT 142.39 575.10 Td (its ) Tj ET Q q 0 0 0 rg BT 154.86 575.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 189.54 575.10 Td (from ) Tj ET Q q 0 0 0 rg BT 212.00 575.10 Td (three ) Tj ET Q q 0 0 0 rg BT 235.01 575.10 Td (sources: ) Tj ET Q q 0 0 0 rg BT 270.81 575.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 305.48 575.10 Td (from ) Tj ET Q q 0 0 0 rg BT 327.94 575.10 Td (an ) Tj ET Q q 0 0 0 rg BT 340.41 575.10 Td (advertiser ) Tj ET Q q 0 0 0 rg BT 382.86 575.10 Td (when ) Tj ET Q q 0 0 0 rg BT 407.55 575.10 Td (it ) Tj ET Q q 0 0 0 rg BT 416.13 575.10 Td (pays ) Tj ET Q q 0 0 0 rg BT 437.49 575.10 Td (for ) Tj ET Q q 0 0 0 rg BT 452.17 575.10 Td (a ) Tj ET Q q 0 0 0 rg BT 459.64 575.10 Td (social ) Tj ET Q q 0 0 0 rg BT 485.99 575.10 Td (media ) Tj ET Q q 0 0 0 rg BT 513.45 575.10 Td (publisher ) Tj ET Q q 0 0 0 rg BT 553.69 575.10 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 563.10 Td (influencer ) Tj ET Q q 0 0 0 rg BT 93.44 563.10 Td (such ) Tj ET Q q 0 0 0 rg BT 114.67 563.10 Td (as ) Tj ET Q q 0 0 0 rg BT 125.91 563.10 Td (a ) Tj ET Q q 0 0 0 rg BT 133.25 563.10 Td (blogger ) Tj ET Q q 0 0 0 rg BT 166.70 563.10 Td (or ) Tj ET Q q 0 0 0 rg BT 177.93 563.10 Td (tweeter ) Tj ET Q q 0 0 0 rg BT 210.26 563.10 Td (\("creators"\) ) Tj ET Q q 0 0 0 rg BT 259.64 563.10 Td (to ) Tj ET Q q 0 0 0 rg BT 270.32 563.10 Td (share ) Tj ET Q q 0 0 0 rg BT 294.32 563.10 Td (sponsored ) Tj ET Q q 0 0 0 rg BT 337.78 563.10 Td (content ) Tj ET Q q 0 0 0 rg BT 370.12 563.10 Td (with ) Tj ET Q q 0 0 0 rg BT 390.80 563.10 Td (their ) Tj ET Q q 0 0 0 rg BT 412.03 563.10 Td (social ) Tj ET Q q 0 0 0 rg BT 438.26 563.10 Td (network ) Tj ET Q q 0 0 0 rg BT 473.93 563.10 Td (audience ) Tj ET Q q 0 0 0 rg BT 512.37 563.10 Td (\("Sponsored ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 551.10 Td (Revenue"\), ) Tj ET Q q 0 0 0 rg BT 97.46 551.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 131.66 551.10 Td (when ) Tj ET Q q 0 0 0 rg BT 155.88 551.10 Td (a ) Tj ET Q q 0 0 0 rg BT 162.88 551.10 Td (publisher ) Tj ET Q q 0 0 0 rg BT 202.66 551.10 Td (or ) Tj ET Q q 0 0 0 rg BT 213.55 551.10 Td (company ) Tj ET Q q 0 0 0 rg BT 252.76 551.10 Td (purchases ) Tj ET Q q 0 0 0 rg BT 294.75 551.10 Td (custom ) Tj ET Q q 0 0 0 rg BT 326.20 551.10 Td (branded ) Tj ET Q q 0 0 0 rg BT 360.97 551.10 Td (content ) Tj ET Q q 0 0 0 rg BT 392.96 551.10 Td (for ) Tj ET Q q 0 0 0 rg BT 407.18 551.10 Td (use ) Tj ET Q q 0 0 0 rg BT 423.07 551.10 Td (on ) Tj ET Q q 0 0 0 rg BT 435.63 551.10 Td (its ) Tj ET Q q 0 0 0 rg BT 447.64 551.10 Td (owned ) Tj ET Q q 0 0 0 rg BT 476.86 551.10 Td (and ) Tj ET Q q 0 0 0 rg BT 493.86 551.10 Td (operated ) Tj ET Q q 0 0 0 rg BT 530.84 551.10 Td (sites, ) Tj ET Q q 0 0 0 rg BT 553.68 551.10 Td (as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 539.10 Td (well ) Tj ET Q q 0 0 0 rg BT 69.16 539.10 Td (as ) Tj ET Q q 0 0 0 rg BT 79.44 539.10 Td (third ) Tj ET Q q 0 0 0 rg BT 100.28 539.10 Td (party ) Tj ET Q q 0 0 0 rg BT 122.77 539.10 Td (content ) Tj ET Q q 0 0 0 rg BT 154.15 539.10 Td (marketing ) Tj ET Q q 0 0 0 rg BT 196.64 539.10 Td (and ) Tj ET Q q 0 0 0 rg BT 213.03 539.10 Td (native ) Tj ET Q q 0 0 0 rg BT 239.41 539.10 Td (advertising ) Tj ET Q q 0 0 0 rg BT 285.79 539.10 Td (ef) Tj ET Q q 0 0 0 rg BT 293.38 539.10 Td (forts ) Tj ET Q q 0 0 0 rg BT 313.65 539.10 Td (\("Content ) Tj ET Q q 0 0 0 rg BT 354.68 539.10 Td (Revenue"\) ) Tj ET Q q 0 0 0 rg BT 399.02 539.10 Td (and ) Tj ET Q q 0 0 0 rg BT 415.41 539.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 449.00 539.10 Td (derived ) Tj ET Q q 0 0 0 rg BT 480.93 539.10 Td (from ) Tj ET Q q 0 0 0 rg BT 502.32 539.10 Td (various ) Tj ET Q q 0 0 0 rg BT 533.70 539.10 Td (service ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 527.10 Td (and ) Tj ET Q q 0 0 0 rg BT 67.50 527.10 Td (license ) Tj ET Q q 0 0 0 rg BT 98.32 527.10 Td (fees ) Tj ET Q q 0 0 0 rg BT 117.48 527.10 Td (char) Tj ET Q q 0 0 0 rg BT 134.50 527.10 Td (ged ) Tj ET Q q 0 0 0 rg BT 152.00 527.10 Td (to ) Tj ET Q q 0 0 0 rg BT 162.83 527.10 Td (users ) Tj ET Q q 0 0 0 rg BT 186.44 527.10 Td (of ) Tj ET Q q 0 0 0 rg BT 197.83 527.10 Td (our ) Tj ET Q q 0 0 0 rg BT 214.22 527.10 Td (platforms ) Tj ET Q q 0 0 0 rg BT 255.60 527.10 Td (\("Service ) Tj ET Q q 0 0 0 rg BT 296.06 527.10 Td (Fee ) Tj ET Q q 0 0 0 rg BT 313.56 527.10 Td (Revenue"\). ) Tj ET Q q 0 0 0 rg BT 361.51 527.10 Td ( ) Tj ET Q q 0 0 0 rg BT 364.57 527.10 Td (Sponsored ) Tj ET Q q 0 0 0 rg BT 409.85 527.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 444.55 527.10 Td (is ) Tj ET Q q 0 0 0 rg BT 454.28 527.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 501.20 527.10 Td (and ) Tj ET Q q 0 0 0 rg BT 518.70 527.10 Td (considered ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 515.10 Td (earned ) Tj ET Q q 0 0 0 rg BT 78.59 515.10 Td (after ) Tj ET Q q 0 0 0 rg BT 98.85 515.10 Td (an ) Tj ET Q q 0 0 0 rg BT 110.23 515.10 Td (advertiser's ) Tj ET Q q 0 0 0 rg BT 157.29 515.10 Td (sponsored ) Tj ET Q q 0 0 0 rg BT 199.79 515.10 Td (content ) Tj ET Q q 0 0 0 rg BT 231.16 515.10 Td (is ) Tj ET Q q 0 0 0 rg BT 239.78 515.10 Td (posted ) Tj ET Q q 0 0 0 rg BT 267.83 515.10 Td (through ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 300.88 515.10 Td (IZEAx) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.43 515.10 Td ( ) Tj ET Q q 0 0 0 rg BT 328.37 515.10 Td (and ) Tj ET Q q 0 0 0 rg BT 344.75 515.10 Td (shared ) Tj ET Q q 0 0 0 rg BT 372.79 515.10 Td (through ) Tj ET Q q 0 0 0 rg BT 405.84 515.10 Td (a ) Tj ET Q q 0 0 0 rg BT 412.23 515.10 Td (creator's ) Tj ET Q q 0 0 0 rg BT 447.62 515.10 Td (social ) Tj ET Q q 0 0 0 rg BT 472.89 515.10 Td (network ) Tj ET Q q 0 0 0 rg BT 507.60 515.10 Td (for ) Tj ET Q q 0 0 0 rg BT 521.20 515.10 Td (a ) Tj ET Q q 0 0 0 rg BT 527.58 515.10 Td (requisite ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 503.10 Td (period ) Tj ET Q q 0 0 0 rg BT 77.10 503.10 Td (of ) Tj ET Q q 0 0 0 rg BT 86.98 503.10 Td (time. ) Tj ET Q q 0 0 0 rg BT 108.69 503.10 Td (The ) Tj ET Q q 0 0 0 rg BT 125.79 503.10 Td (requisite ) Tj ET Q q 0 0 0 rg BT 161.78 503.10 Td (period ) Tj ET Q q 0 0 0 rg BT 188.88 503.10 Td (ranges ) Tj ET Q q 0 0 0 rg BT 216.53 503.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.52 503.10 Td (3 ) Tj ET Q q 0 0 0 rg BT 244.07 503.10 Td (days) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.40 503.10 Td ( ) Tj ET Q q 0 0 0 rg BT 263.95 503.10 Td (for ) Tj ET Q q 0 0 0 rg BT 277.16 503.10 Td (a ) Tj ET Q q 0 0 0 rg BT 283.15 503.10 Td (tweet ) Tj ET Q q 0 0 0 rg BT 306.36 503.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.69 503.10 Td (30 ) Tj ET Q q 0 0 0 rg BT 327.24 503.10 Td (days) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.57 503.10 Td ( ) Tj ET Q q 0 0 0 rg BT 347.12 503.10 Td (for ) Tj ET Q q 0 0 0 rg BT 360.33 503.10 Td (a ) Tj ET Q q 0 0 0 rg BT 366.33 503.10 Td (blog, ) Tj ET Q q 0 0 0 rg BT 388.16 503.10 Td (video ) Tj ET Q q 0 0 0 rg BT 411.92 503.10 Td (or ) Tj ET Q q 0 0 0 rg BT 421.81 503.10 Td (other ) Tj ET Q q 0 0 0 rg BT 443.90 503.10 Td (form ) Tj ET Q q 0 0 0 rg BT 464.89 503.10 Td (of ) Tj ET Q q 0 0 0 rg BT 474.78 503.10 Td (content. ) Tj ET Q q 0 0 0 rg BT 508.26 503.10 Td ( ) Tj ET Q q 0 0 0 rg BT 509.81 503.10 Td (Management ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 491.10 Td (fees ) Tj ET Q q 0 0 0 rg BT 68.91 491.10 Td (related ) Tj ET Q q 0 0 0 rg BT 98.92 491.10 Td (to ) Tj ET Q q 0 0 0 rg BT 109.51 491.10 Td (Sponsored ) Tj ET Q q 0 0 0 rg BT 154.54 491.10 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 192.33 491.10 Td (from ) Tj ET Q q 0 0 0 rg BT 214.58 491.10 Td (advertising ) Tj ET Q q 0 0 0 rg BT 261.82 491.10 Td (campaigns ) Tj ET Q q 0 0 0 rg BT 307.39 491.10 Td (managed ) Tj ET Q q 0 0 0 rg BT 346.30 491.10 Td (by ) Tj ET Q q 0 0 0 rg BT 359.11 491.10 Td (the ) Tj ET Q q 0 0 0 rg BT 374.13 491.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 415.83 491.10 Td (are ) Tj ET Q q 0 0 0 rg BT 430.84 491.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 477.52 491.10 Td (ratably ) Tj ET Q q 0 0 0 rg BT 508.09 491.10 Td (over ) Tj ET Q q 0 0 0 rg BT 528.67 491.10 Td (the ) Tj ET Q q 0 0 0 rg BT 543.69 491.10 Td (term ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 479.10 Td (of ) Tj ET Q q 0 0 0 rg BT 61.04 479.10 Td (the ) Tj ET Q q 0 0 0 rg BT 75.97 479.10 Td (campaign ) Tj ET Q q 0 0 0 rg BT 117.55 479.10 Td (which ) Tj ET Q q 0 0 0 rg BT 144.70 479.10 Td (may ) Tj ET Q q 0 0 0 rg BT 164.63 479.10 Td (range ) Tj ET Q q 0 0 0 rg BT 189.55 479.10 Td (from ) Tj ET Q q 0 0 0 rg BT 211.70 479.10 Td (a ) Tj ET Q q 0 0 0 rg BT 218.85 479.10 Td (few ) Tj ET Q q 0 0 0 rg BT 236.55 479.10 Td (days ) Tj ET Q q 0 0 0 rg BT 257.59 479.10 Td (to ) Tj ET Q q 0 0 0 rg BT 268.08 479.10 Td (months. ) Tj ET Q q 0 0 0 rg BT 302.74 479.10 Td ( ) Tj ET Q q 0 0 0 rg BT 305.45 479.10 Td (Content ) Tj ET Q q 0 0 0 rg BT 339.83 479.10 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 377.53 479.10 Td (is ) Tj ET Q q 0 0 0 rg BT 386.91 479.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 433.48 479.10 Td (when ) Tj ET Q q 0 0 0 rg BT 457.85 479.10 Td (the ) Tj ET Q q 0 0 0 rg BT 472.78 479.10 Td (content ) Tj ET Q q 0 0 0 rg BT 504.93 479.10 Td (is ) Tj ET Q q 0 0 0 rg BT 514.31 479.10 Td (delivered ) Tj ET Q q 0 0 0 rg BT 554.22 479.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 467.10 Td (and ) Tj ET Q q 0 0 0 rg BT 67.02 467.10 Td (accepted ) Tj ET Q q 0 0 0 rg BT 104.56 467.10 Td (by ) Tj ET Q q 0 0 0 rg BT 117.14 467.10 Td (the ) Tj ET Q q 0 0 0 rg BT 131.93 467.10 Td (customer) Tj ET Q q 0 0 0 rg BT 168.04 467.10 Td (. ) Tj ET Q q 0 0 0 rg BT 173.12 467.10 Td (Service ) Tj ET Q q 0 0 0 rg BT 205.68 467.10 Td (fees ) Tj ET Q q 0 0 0 rg BT 224.35 467.10 Td (char) Tj ET Q q 0 0 0 rg BT 241.38 467.10 Td (ged ) Tj ET Q q 0 0 0 rg BT 258.40 467.10 Td (to ) Tj ET Q q 0 0 0 rg BT 268.75 467.10 Td (customers ) Tj ET Q q 0 0 0 rg BT 311.88 467.10 Td (are ) Tj ET Q q 0 0 0 rg BT 326.66 467.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 366.45 467.10 Td (related ) Tj ET Q q 0 0 0 rg BT 396.23 467.10 Td (to ) Tj ET Q q 0 0 0 rg BT 406.58 467.10 Td (subscription ) Tj ET Q q 0 0 0 rg BT 458.05 467.10 Td (fees ) Tj ET Q q 0 0 0 rg BT 476.72 467.10 Td (for ) Tj ET Q q 0 0 0 rg BT 490.96 467.10 Td (dif) Tj ET Q q 0 0 0 rg BT 501.89 467.10 Td (ferent ) Tj ET Q q 0 0 0 rg BT 527.78 467.10 Td (levels ) Tj ET Q q 0 0 0 rg BT 553.68 467.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 455.10 Td (service ) Tj ET Q q 0 0 0 rg BT 81.45 455.10 Td (within ) Tj ET Q q 0 0 0 rg BT 110.15 455.10 Td (a ) Tj ET Q q 0 0 0 rg BT 117.73 455.10 Td (platform, ) Tj ET Q q 0 0 0 rg BT 157.80 455.10 Td (licensing ) Tj ET Q q 0 0 0 rg BT 197.04 455.10 Td (fees ) Tj ET Q q 0 0 0 rg BT 216.28 455.10 Td (for ) Tj ET Q q 0 0 0 rg BT 231.08 455.10 Td (white-label ) Tj ET Q q 0 0 0 rg BT 279.20 455.10 Td (use ) Tj ET Q q 0 0 0 rg BT 295.67 455.10 Td (of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 307.13 455.10 Td (IZEAx) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.68 455.10 Td (, ) Tj ET Q q 0 0 0 rg BT 338.32 455.10 Td (early ) Tj ET Q q 0 0 0 rg BT 361.44 455.10 Td (cash-out ) Tj ET Q q 0 0 0 rg BT 398.46 455.10 Td (fees ) Tj ET Q q 0 0 0 rg BT 417.70 455.10 Td (if ) Tj ET Q q 0 0 0 rg BT 426.94 455.10 Td (a ) Tj ET Q q 0 0 0 rg BT 434.52 455.10 Td (creator ) Tj ET Q q 0 0 0 rg BT 465.41 455.10 Td (wishes ) Tj ET Q q 0 0 0 rg BT 495.77 455.10 Td (to ) Tj ET Q q 0 0 0 rg BT 506.69 455.10 Td (take ) Tj ET Q q 0 0 0 rg BT 526.48 455.10 Td (proceeds ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 443.10 Td (earned ) Tj ET Q q 0 0 0 rg BT 78.87 443.10 Td (for ) Tj ET Q q 0 0 0 rg BT 92.75 443.10 Td (services ) Tj ET Q q 0 0 0 rg BT 127.18 443.10 Td (from ) Tj ET Q q 0 0 0 rg BT 148.84 443.10 Td (their ) Tj ET Q q 0 0 0 rg BT 169.38 443.10 Td (account ) Tj ET Q q 0 0 0 rg BT 202.70 443.10 Td (when ) Tj ET Q q 0 0 0 rg BT 226.58 443.10 Td (the ) Tj ET Q q 0 0 0 rg BT 241.02 443.10 Td (account ) Tj ET Q q 0 0 0 rg BT 274.34 443.10 Td (balance ) Tj ET Q q 0 0 0 rg BT 307.09 443.10 Td (is ) Tj ET Q q 0 0 0 rg BT 315.98 443.10 Td (below ) Tj ET Q q 0 0 0 rg BT 342.64 443.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 372.07 443.10 Td (minimum ) Tj ET Q q 0 0 0 rg BT 413.18 443.10 Td (balance ) Tj ET Q q 0 0 0 rg BT 445.93 443.10 Td (thresholds ) Tj ET Q q 0 0 0 rg BT 489.26 443.10 Td (and ) Tj ET Q q 0 0 0 rg BT 505.92 443.10 Td (inactivity ) Tj ET Q q 0 0 0 rg BT 545.91 443.10 Td (fees ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 431.10 Td (for ) Tj ET Q q 0 0 0 rg BT 64.07 431.10 Td (dormant ) Tj ET Q q 0 0 0 rg BT 99.81 431.10 Td (accounts. ) Tj ET Q q 0 0 0 rg BT 139.71 431.10 Td (Service ) Tj ET Q q 0 0 0 rg BT 172.10 431.10 Td (fees ) Tj ET Q q 0 0 0 rg BT 190.62 431.10 Td (are ) Tj ET Q q 0 0 0 rg BT 205.23 431.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 251.51 431.10 Td (immediately ) Tj ET Q q 0 0 0 rg BT 303.91 431.10 Td (when ) Tj ET Q q 0 0 0 rg BT 327.98 431.10 Td (the ) Tj ET Q q 0 0 0 rg BT 342.61 431.10 Td (service ) Tj ET Q q 0 0 0 rg BT 373.33 431.10 Td (is ) Tj ET Q q 0 0 0 rg BT 382.42 431.10 Td (performed ) Tj ET Q q 0 0 0 rg BT 426.47 431.10 Td (or ) Tj ET Q q 0 0 0 rg BT 437.22 431.10 Td (at ) Tj ET Q q 0 0 0 rg BT 446.85 431.10 Td (the ) Tj ET Q q 0 0 0 rg BT 461.47 431.10 Td (time ) Tj ET Q q 0 0 0 rg BT 481.66 431.10 Td (an ) Tj ET Q q 0 0 0 rg BT 493.51 431.10 Td (account ) Tj ET Q q 0 0 0 rg BT 527.02 431.10 Td (becomes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 419.10 Td (dormant ) Tj ET Q q 0 0 0 rg BT 85.27 419.10 Td (or ) Tj ET Q q 0 0 0 rg BT 95.55 419.10 Td (is ) Tj ET Q q 0 0 0 rg BT 104.16 419.10 Td (cashed ) Tj ET Q q 0 0 0 rg BT 133.32 419.10 Td (out. ) Tj ET Q q 0 0 0 rg BT 150.54 419.10 Td (Self-service ) Tj ET Q q 0 0 0 rg BT 200.24 419.10 Td (advertisers ) Tj ET Q q 0 0 0 rg BT 245.50 419.10 Td (must ) Tj ET Q q 0 0 0 rg BT 266.89 419.10 Td (prepay ) Tj ET Q q 0 0 0 rg BT 296.05 419.10 Td (for ) Tj ET Q q 0 0 0 rg BT 309.65 419.10 Td (services ) Tj ET Q q 0 0 0 rg BT 343.81 419.10 Td (by ) Tj ET Q q 0 0 0 rg BT 355.75 419.10 Td (placing ) Tj ET Q q 0 0 0 rg BT 387.13 419.10 Td (a ) Tj ET Q q 0 0 0 rg BT 393.52 419.10 Td (deposit ) Tj ET Q q 0 0 0 rg BT 424.35 419.10 Td (in ) Tj ET Q q 0 0 0 rg BT 434.07 419.10 Td (their ) Tj ET Q q 0 0 0 rg BT 454.34 419.10 Td (account ) Tj ET Q q 0 0 0 rg BT 487.38 419.10 Td (with ) Tj ET Q q 0 0 0 rg BT 507.11 419.10 Td (the ) Tj ET Q q 0 0 0 rg BT 521.27 419.10 Td (Company) Tj ET Q q 0 0 0 rg BT 559.51 419.10 Td (. ) Tj ET Q q 0 0 0 rg BT 564.51 419.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 407.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.00 407.10 Td (deposits ) Tj ET Q q 0 0 0 rg BT 101.24 407.10 Td (are ) Tj ET Q q 0 0 0 rg BT 114.90 407.10 Td (typically ) Tj ET Q q 0 0 0 rg BT 151.34 407.10 Td (paid ) Tj ET Q q 0 0 0 rg BT 170.01 407.10 Td (by ) Tj ET Q q 0 0 0 rg BT 181.47 407.10 Td (the ) Tj ET Q q 0 0 0 rg BT 195.14 407.10 Td (advertiser ) Tj ET Q q 0 0 0 rg BT 236.02 407.10 Td (via ) Tj ET Q q 0 0 0 rg BT 249.69 407.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 273.91 407.10 Td (card. ) Tj ET Q q 0 0 0 rg BT 295.07 407.10 Td ( ) Tj ET Q q 0 0 0 rg BT 296.21 407.10 Td (Advertisers ) Tj ET Q q 0 0 0 rg BT 343.76 407.10 Td (who ) Tj ET Q q 0 0 0 rg BT 362.44 407.10 Td (use ) Tj ET Q q 0 0 0 rg BT 377.22 407.10 Td (the ) Tj ET Q q 0 0 0 rg BT 390.89 407.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 431.24 407.10 Td (to ) Tj ET Q q 0 0 0 rg BT 440.47 407.10 Td (manage ) Tj ET Q q 0 0 0 rg BT 473.02 407.10 Td (their ) Tj ET Q q 0 0 0 rg BT 492.80 407.10 Td (social ) Tj ET Q q 0 0 0 rg BT 517.58 407.10 Td (advertising ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 395.10 Td (campaigns ) Tj ET Q q 0 0 0 rg BT 94.44 395.10 Td (or ) Tj ET Q q 0 0 0 rg BT 104.45 395.10 Td (content ) Tj ET Q q 0 0 0 rg BT 135.56 395.10 Td (requests ) Tj ET Q q 0 0 0 rg BT 170.01 395.10 Td (may ) Tj ET Q q 0 0 0 rg BT 188.91 395.10 Td (prepay ) Tj ET Q q 0 0 0 rg BT 217.79 395.10 Td (for ) Tj ET Q q 0 0 0 rg BT 231.13 395.10 Td (services ) Tj ET Q q 0 0 0 rg BT 265.02 395.10 Td (or ) Tj ET Q q 0 0 0 rg BT 275.03 395.10 Td (request ) Tj ET Q q 0 0 0 rg BT 305.58 395.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 330.02 395.10 Td (terms. ) Tj ET Q q 0 0 0 rg BT 356.42 395.10 Td ( ) Tj ET Q q 0 0 0 rg BT 358.10 395.10 Td (Payments ) Tj ET Q q 0 0 0 rg BT 398.66 395.10 Td (received ) Tj ET Q q 0 0 0 rg BT 434.20 395.10 Td (or ) Tj ET Q q 0 0 0 rg BT 444.21 395.10 Td (billings ) Tj ET Q q 0 0 0 rg BT 475.90 395.10 Td (in ) Tj ET Q q 0 0 0 rg BT 485.35 395.10 Td (advance ) Tj ET Q q 0 0 0 rg BT 519.79 395.10 Td (of ) Tj ET Q q 0 0 0 rg BT 529.79 395.10 Td (services ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 383.10 Td (are ) Tj ET Q q 0 0 0 rg BT 64.71 383.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 102.18 383.10 Td (as ) Tj ET Q q 0 0 0 rg BT 113.01 383.10 Td (unearned ) Tj ET Q q 0 0 0 rg BT 152.16 383.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 186.30 383.10 Td (until ) Tj ET Q q 0 0 0 rg BT 207.14 383.10 Td (earned ) Tj ET Q q 0 0 0 rg BT 236.28 383.10 Td (as ) Tj ET Q q 0 0 0 rg BT 247.11 383.10 Td (described ) Tj ET Q q 0 0 0 rg BT 287.93 383.10 Td (above. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 359.10 Td (All ) Tj ET Q q 0 0 0 rg BT 65.72 359.10 Td (of ) Tj ET Q q 0 0 0 rg BT 77.00 359.10 Td (the ) Tj ET Q q 0 0 0 rg BT 92.16 359.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 139.68 359.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 174.27 359.10 Td (is ) Tj ET Q q 0 0 0 rg BT 183.89 359.10 Td (generated ) Tj ET Q q 0 0 0 rg BT 225.69 359.10 Td (through ) Tj ET Q q 0 0 0 rg BT 259.75 359.10 Td (the ) Tj ET Q q 0 0 0 rg BT 274.91 359.10 Td (rendering ) Tj ET Q q 0 0 0 rg BT 316.17 359.10 Td (of ) Tj ET Q q 0 0 0 rg BT 327.44 359.10 Td (services ) Tj ET Q q 0 0 0 rg BT 362.59 359.10 Td (and ) Tj ET Q q 0 0 0 rg BT 379.98 359.10 Td (is ) Tj ET Q q 0 0 0 rg BT 389.59 359.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 436.40 359.10 Td (under ) Tj ET Q q 0 0 0 rg BT 462.11 359.10 Td (the ) Tj ET Q q 0 0 0 rg BT 477.27 359.10 Td (general ) Tj ET Q q 0 0 0 rg BT 509.64 359.10 Td (guidelines ) Tj ET Q q 0 0 0 rg BT 553.69 359.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 347.10 Td (SAB ) Tj ET Q q 0 0 0 rg BT 70.93 347.10 Td (T) Tj ET Q q 0 0 0 rg BT 76.34 347.10 Td (opic ) Tj ET Q q 0 0 0 rg BT 95.16 347.10 Td (13 ) Tj ET Q q 0 0 0 rg BT 106.40 347.10 Td (A.1 ) Tj ET Q q 0 0 0 rg BT 122.72 347.10 Td (which ) Tj ET Q q 0 0 0 rg BT 148.76 347.10 Td (states ) Tj ET Q q 0 0 0 rg BT 172.57 347.10 Td (that ) Tj ET Q q 0 0 0 rg BT 189.16 347.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 222.40 347.10 Td (will ) Tj ET Q q 0 0 0 rg BT 239.56 347.10 Td (be ) Tj ET Q q 0 0 0 rg BT 250.59 347.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 296.05 347.10 Td (when ) Tj ET Q q 0 0 0 rg BT 319.31 347.10 Td (it ) Tj ET Q q 0 0 0 rg BT 326.46 347.10 Td (is ) Tj ET Q q 0 0 0 rg BT 334.73 347.10 Td (realized ) Tj ET Q q 0 0 0 rg BT 367.96 347.10 Td (or ) Tj ET Q q 0 0 0 rg BT 377.89 347.10 Td (realizable ) Tj ET Q q 0 0 0 rg BT 418.35 347.10 Td (and ) Tj ET Q q 0 0 0 rg BT 434.38 347.10 Td (earned. ) Tj ET Q q 0 0 0 rg BT 465.12 347.10 Td ( ) Tj ET Q q 0 0 0 rg BT 466.60 347.10 Td (The ) Tj ET Q q 0 0 0 rg BT 483.75 347.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 524.23 347.10 Td (considers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 335.10 Td (its ) Tj ET Q q 0 0 0 rg BT 61.72 335.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 95.63 335.10 Td (as ) Tj ET Q q 0 0 0 rg BT 106.23 335.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 145.70 335.10 Td (realized ) Tj ET Q q 0 0 0 rg BT 179.61 335.10 Td (or ) Tj ET Q q 0 0 0 rg BT 190.21 335.10 Td (realizable ) Tj ET Q q 0 0 0 rg BT 231.33 335.10 Td (and ) Tj ET Q q 0 0 0 rg BT 248.04 335.10 Td (earned ) Tj ET Q q 0 0 0 rg BT 276.95 335.10 Td (once ) Tj ET Q q 0 0 0 rg BT 298.10 335.10 Td (\(i\) ) Tj ET Q q 0 0 0 rg BT 309.80 335.10 Td (persuasive ) Tj ET Q q 0 0 0 rg BT 354.28 335.10 Td (evidence ) Tj ET Q q 0 0 0 rg BT 392.08 335.10 Td (of ) Tj ET Q q 0 0 0 rg BT 402.68 335.10 Td (an ) Tj ET Q q 0 0 0 rg BT 414.38 335.10 Td (arrangement ) Tj ET Q q 0 0 0 rg BT 466.62 335.10 Td (exists, ) Tj ET Q q 0 0 0 rg BT 494.17 335.10 Td (\(ii\) ) Tj ET Q q 0 0 0 rg BT 508.65 335.10 Td (services ) Tj ET Q q 0 0 0 rg BT 543.13 335.10 Td (have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 323.10 Td (been ) Tj ET Q q 0 0 0 rg BT 71.13 323.10 Td (rendered, ) Tj ET Q q 0 0 0 rg BT 110.86 323.10 Td (\(iii\) ) Tj ET Q q 0 0 0 rg BT 128.11 323.10 Td (the ) Tj ET Q q 0 0 0 rg BT 142.58 323.10 Td (price ) Tj ET Q q 0 0 0 rg BT 164.82 323.10 Td (to ) Tj ET Q q 0 0 0 rg BT 174.86 323.10 Td (the ) Tj ET Q q 0 0 0 rg BT 189.33 323.10 Td (advertiser ) Tj ET Q q 0 0 0 rg BT 231.01 323.10 Td (or ) Tj ET Q q 0 0 0 rg BT 241.59 323.10 Td (customer ) Tj ET Q q 0 0 0 rg BT 280.50 323.10 Td (is ) Tj ET Q q 0 0 0 rg BT 289.43 323.10 Td (fixed ) Tj ET Q q 0 0 0 rg BT 312.23 323.10 Td (\(required ) Tj ET Q q 0 0 0 rg BT 351.13 323.10 Td (to ) Tj ET Q q 0 0 0 rg BT 361.16 323.10 Td (be ) Tj ET Q q 0 0 0 rg BT 372.86 323.10 Td (paid ) Tj ET Q q 0 0 0 rg BT 392.33 323.10 Td (at ) Tj ET Q q 0 0 0 rg BT 401.80 323.10 Td (a ) Tj ET Q q 0 0 0 rg BT 408.49 323.10 Td (set ) Tj ET Q q 0 0 0 rg BT 421.86 323.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 454.11 323.10 Td (that ) Tj ET Q q 0 0 0 rg BT 471.36 323.10 Td (is ) Tj ET Q q 0 0 0 rg BT 480.28 323.10 Td (not ) Tj ET Q q 0 0 0 rg BT 495.31 323.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 525.89 323.10 Td (to ) Tj ET Q q 0 0 0 rg BT 535.93 323.10 Td (refund ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 311.10 Td (or ) Tj ET Q q 0 0 0 rg BT 60.37 311.10 Td (adjustment\) ) Tj ET Q q 0 0 0 rg BT 109.62 311.10 Td (and ) Tj ET Q q 0 0 0 rg BT 126.10 311.10 Td (determinable, ) Tj ET Q q 0 0 0 rg BT 182.84 311.10 Td (and ) Tj ET Q q 0 0 0 rg BT 199.32 311.10 Td (\(iv\) ) Tj ET Q q 0 0 0 rg BT 215.80 311.10 Td (collectibility ) Tj ET Q q 0 0 0 rg BT 268.38 311.10 Td (is ) Tj ET Q q 0 0 0 rg BT 277.09 311.10 Td (reasonably ) Tj ET Q q 0 0 0 rg BT 322.45 311.10 Td (assured. ) Tj ET Q q 0 0 0 rg BT 356.98 311.10 Td ( ) Tj ET Q q 0 0 0 rg BT 358.88 311.10 Td (The ) Tj ET Q q 0 0 0 rg BT 376.46 311.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 417.39 311.10 Td (records ) Tj ET Q q 0 0 0 rg BT 448.86 311.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 482.55 311.10 Td (on ) Tj ET Q q 0 0 0 rg BT 494.59 311.10 Td (the ) Tj ET Q q 0 0 0 rg BT 508.85 311.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 532.00 311.10 Td (amount ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 299.10 Td (earned ) Tj ET Q q 0 0 0 rg BT 78.82 299.10 Td (sinceit ) Tj ET Q q 0 0 0 rg BT 109.60 299.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 148.98 299.10 Td (is ) Tj ET Q q 0 0 0 rg BT 157.83 299.10 Td (the ) Tj ET Q q 0 0 0 rg BT 172.23 299.10 Td (primary ) Tj ET Q q 0 0 0 rg BT 206.06 299.10 Td (obligor ) Tj ET Q q 0 0 0 rg BT 237.12 299.10 Td (in ) Tj ET Q q 0 0 0 rg BT 247.08 299.10 Td (the ) Tj ET Q q 0 0 0 rg BT 261.47 299.10 Td (arrangement, ) Tj ET Q q 0 0 0 rg BT 316.12 299.10 Td (it ) Tj ET Q q 0 0 0 rg BT 323.86 299.10 Td (takes ) Tj ET Q q 0 0 0 rg BT 346.58 299.10 Td (on ) Tj ET Q q 0 0 0 rg BT 358.76 299.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 383.70 299.10 Td (risk, ) Tj ET Q q 0 0 0 rg BT 403.38 299.10 Td (it ) Tj ET Q q 0 0 0 rg BT 411.11 299.10 Td (establishes ) Tj ET Q q 0 0 0 rg BT 456.62 299.10 Td (the ) Tj ET Q q 0 0 0 rg BT 471.01 299.10 Td (pricing ) Tj ET Q q 0 0 0 rg BT 501.51 299.10 Td (and ) Tj ET Q q 0 0 0 rg BT 518.13 299.10 Td (determines ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 287.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.72 287.10 Td (service ) Tj ET Q q 0 0 0 rg BT 95.53 287.10 Td (specifications. ) Tj ET Q q 0 0 0 rg BT 155.51 287.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 50 261.53505859375 m 125.8349609375 261.53505859375 l s q 0 0 0 rg BT 50.00 263.10 Td (Advertising ) Tj ET Q q 0 0 0 rg BT 102.50 263.10 Td (Costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 251.10 Td (Advertising ) Tj ET Q q 0 0 0 rg BT 99.95 251.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 122.67 251.10 Td (are ) Tj ET Q q 0 0 0 rg BT 137.61 251.10 Td (char) Tj ET Q q 0 0 0 rg BT 154.64 251.10 Td (ged ) Tj ET Q q 0 0 0 rg BT 171.80 251.10 Td (to ) Tj ET Q q 0 0 0 rg BT 182.31 251.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 217.25 251.10 Td (as ) Tj ET Q q 0 0 0 rg BT 228.30 251.10 Td (they ) Tj ET Q q 0 0 0 rg BT 248.25 251.10 Td (are ) Tj ET Q q 0 0 0 rg BT 263.18 251.10 Td (incurred, ) Tj ET Q q 0 0 0 rg BT 301.73 251.10 Td (including ) Tj ET Q q 0 0 0 rg BT 342.23 251.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 383.28 251.10 Td (to ) Tj ET Q q 0 0 0 rg BT 393.79 251.10 Td (contact ) Tj ET Q q 0 0 0 rg BT 425.39 251.10 Td (creators ) Tj ET Q q 0 0 0 rg BT 459.77 251.10 Td (to ) Tj ET Q q 0 0 0 rg BT 470.27 251.10 Td (promote ) Tj ET Q q 0 0 0 rg BT 506.33 251.10 Td (the ) Tj ET Q q 0 0 0 rg BT 521.27 251.10 Td (Company) Tj ET Q q 0 0 0 rg BT 559.51 251.10 Td (. ) Tj ET Q q 0 0 0 rg BT 564.51 251.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 239.10 Td (Advertising ) Tj ET Q q 0 0 0 rg BT 98.94 239.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 132.87 239.10 Td (char) Tj ET Q q 0 0 0 rg BT 149.90 239.10 Td (ged ) Tj ET Q q 0 0 0 rg BT 166.06 239.10 Td (to ) Tj ET Q q 0 0 0 rg BT 175.57 239.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 218.95 239.10 Td (for ) Tj ET Q q 0 0 0 rg BT 232.33 239.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.27 239.10 Td (three ) Tj ET Q q 0 0 0 rg BT 267.99 239.10 Td (months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.43 239.10 Td ( ) Tj ET Q q 0 0 0 rg BT 299.16 239.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.76 239.10 Td (September30, ) Tj ET Q q 0 0 0 rg BT 384.25 239.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.25 239.10 Td ( ) Tj ET Q q 0 0 0 rg BT 405.97 239.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.14 239.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.14 239.10 Td ( ) Tj ET Q q 0 0 0 rg BT 443.86 239.10 Td (were ) Tj ET Q q 0 0 0 rg BT 465.02 239.10 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.50 239.10 Td ($199,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 562.00 239.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 227.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.85 227.10 Td ($347,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.35 227.10 Td (, ) Tj ET Q q 0 0 0 rg BT 109.26 227.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 156.92 227.10 Td (. ) Tj ET Q q 0 0 0 rg BT 161.83 227.10 Td ( ) Tj ET Q q 0 0 0 rg BT 163.71 227.10 Td (Advertising ) Tj ET Q q 0 0 0 rg BT 213.34 227.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 247.96 227.10 Td (char) Tj ET Q q 0 0 0 rg BT 264.98 227.10 Td (ged ) Tj ET Q q 0 0 0 rg BT 281.83 227.10 Td (to ) Tj ET Q q 0 0 0 rg BT 292.02 227.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 336.09 227.10 Td (for ) Tj ET Q q 0 0 0 rg BT 350.16 227.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.79 227.10 Td (nine ) Tj ET Q q 0 0 0 rg BT 384.42 227.10 Td (months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.87 227.10 Td ( ) Tj ET Q q 0 0 0 rg BT 416.28 227.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.56 227.10 Td (September30, ) Tj ET Q q 0 0 0 rg BT 502.74 227.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.74 227.10 Td ( ) Tj ET Q q 0 0 0 rg BT 525.15 227.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.00 227.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 562.00 227.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 215.10 Td (were ) Tj ET Q q 0 0 0 rg BT 72.10 215.10 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 132.53 215.10 Td ($41) Tj ET Q q 0 0 0 rg BT 147.16 215.10 Td (1,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.66 215.10 Td ( ) Tj ET Q q 0 0 0 rg BT 172.33 215.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.44 215.10 Td ($635,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.94 215.10 Td (, ) Tj ET Q q 0 0 0 rg BT 232.12 215.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 279.78 215.10 Td (. ) Tj ET Q q 0 0 0 rg BT 284.95 215.10 Td ( ) Tj ET Q q 0 0 0 rg BT 287.03 215.10 Td (Advertising ) Tj ET Q q 0 0 0 rg BT 336.92 215.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 359.59 215.10 Td (are ) Tj ET Q q 0 0 0 rg BT 374.47 215.10 Td (included ) Tj ET Q q 0 0 0 rg BT 411.58 215.10 Td (in ) Tj ET Q q 0 0 0 rg BT 422.03 215.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 444.14 215.10 Td (and ) Tj ET Q q 0 0 0 rg BT 461.25 215.10 Td (marketing ) Tj ET Q q 0 0 0 rg BT 504.47 215.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 539.35 215.10 Td (in ) Tj ET Q q 0 0 0 rg BT 549.80 215.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 203.10 Td (accompanying ) Tj ET Q q 0 0 0 rg BT 110.81 203.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 163.85 203.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 208.56 203.10 Td (of ) Tj ET Q q 0 0 0 rg BT 219.39 203.10 Td (operations. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 50 177.53505859375002 m 111.1767578125 177.53505859375002 l s q 0 0 0 rg BT 50.00 179.10 Td (Deferr) Tj ET Q q 0 0 0 rg BT 78.13 179.10 Td (ed ) Tj ET Q q 0 0 0 rg BT 90.63 179.10 Td (Rent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 167.10 Td (The ) Tj ET Q q 0 0 0 rg BT 68.66 167.10 Td (Company) Tj ET Q q 0 0 0 rg BT 110.33 167.10 Td (s ) Tj ET Q q 0 0 0 rg BT 117.33 167.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 158.21 167.10 Td (leases ) Tj ET Q q 0 0 0 rg BT 185.20 167.10 Td (for ) Tj ET Q q 0 0 0 rg BT 199.98 167.10 Td (its ) Tj ET Q q 0 0 0 rg BT 212.54 167.10 Td (of) Tj ET Q q 0 0 0 rg BT 220.69 167.10 Td (fice ) Tj ET Q q 0 0 0 rg BT 238.79 167.10 Td (facilities ) Tj ET Q q 0 0 0 rg BT 276.33 167.10 Td (contain ) Tj ET Q q 0 0 0 rg BT 308.88 167.10 Td (rent ) Tj ET Q q 0 0 0 rg BT 327.54 167.10 Td (abatements ) Tj ET Q q 0 0 0 rg BT 375.63 167.10 Td (and ) Tj ET Q q 0 0 0 rg BT 393.19 167.10 Td (predetermined ) Tj ET Q q 0 0 0 rg BT 454.05 167.10 Td (fixed ) Tj ET Q q 0 0 0 rg BT 477.71 167.10 Td (increases ) Tj ET Q q 0 0 0 rg BT 517.47 167.10 Td (of ) Tj ET Q q 0 0 0 rg BT 528.92 167.10 Td (the ) Tj ET Q q 0 0 0 rg BT 544.25 167.10 Td (base ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 155.10 Td (rental ) Tj ET Q q 0 0 0 rg BT 75.97 155.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 94.15 155.10 Td (during ) Tj ET Q q 0 0 0 rg BT 123.46 155.10 Td (the ) Tj ET Q q 0 0 0 rg BT 138.88 155.10 Td (lease ) Tj ET Q q 0 0 0 rg BT 162.07 155.10 Td (term. ) Tj ET Q q 0 0 0 rg BT 186.10 155.10 Td ( ) Tj ET Q q 0 0 0 rg BT 189.07 155.10 Td (The ) Tj ET Q q 0 0 0 rg BT 207.82 155.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 249.91 155.10 Td (accounts ) Tj ET Q q 0 0 0 rg BT 288.09 155.10 Td (for ) Tj ET Q q 0 0 0 rg BT 302.96 155.10 Td (rental ) Tj ET Q q 0 0 0 rg BT 328.92 155.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 364.33 155.10 Td (on ) Tj ET Q q 0 0 0 rg BT 377.53 155.10 Td (a ) Tj ET Q q 0 0 0 rg BT 385.17 155.10 Td (straight-line ) Tj ET Q q 0 0 0 rg BT 436.70 155.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 459.90 155.10 Td (over ) Tj ET Q q 0 0 0 rg BT 480.87 155.10 Td (the ) Tj ET Q q 0 0 0 rg BT 496.29 155.10 Td (lease ) Tj ET Q q 0 0 0 rg BT 519.48 155.10 Td (term. ) Tj ET Q q 0 0 0 rg BT 543.50 155.10 Td ( ) Tj ET Q q 0 0 0 rg BT 546.47 155.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 143.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 91.12 143.10 Td (records ) Tj ET Q q 0 0 0 rg BT 122.78 143.10 Td (the ) Tj ET Q q 0 0 0 rg BT 137.23 143.10 Td (dif) Tj ET Q q 0 0 0 rg BT 148.15 143.10 Td (ference ) Tj ET Q q 0 0 0 rg BT 179.80 143.10 Td (between ) Tj ET Q q 0 0 0 rg BT 215.35 143.10 Td (the ) Tj ET Q q 0 0 0 rg BT 229.79 143.10 Td (straight-line ) Tj ET Q q 0 0 0 rg BT 280.35 143.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 314.79 143.10 Td (versus ) Tj ET Q q 0 0 0 rg BT 342.57 143.10 Td (the ) Tj ET Q q 0 0 0 rg BT 357.02 143.10 Td (actual ) Tj ET Q q 0 0 0 rg BT 383.12 143.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 419.24 143.10 Td (paid ) Tj ET Q q 0 0 0 rg BT 438.69 143.10 Td (under ) Tj ET Q q 0 0 0 rg BT 463.69 143.10 Td (the ) Tj ET Q q 0 0 0 rg BT 478.13 143.10 Td (lease ) Tj ET Q q 0 0 0 rg BT 500.35 143.10 Td (as ) Tj ET Q q 0 0 0 rg BT 510.91 143.10 Td (deferred ) Tj ET Q q 0 0 0 rg BT 546.45 143.10 Td (rent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 131.10 Td (in ) Tj ET Q q 0 0 0 rg BT 60.28 131.10 Td (the ) Tj ET Q q 0 0 0 rg BT 75.00 131.10 Td (accompanying ) Tj ET Q q 0 0 0 rg BT 135.81 131.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 188.85 131.10 Td (balance ) Tj ET Q q 0 0 0 rg BT 221.88 131.10 Td (sheets.) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 50 105.53505859375002 m 108.0615234375 105.53505859375002 l s q 0 0 0 rg BT 50.00 107.10 Td (Income ) Tj ET Q q 0 0 0 rg BT 83.98 107.10 Td (T) Tj ET Q q 0 0 0 rg BT 89.73 107.10 Td (axes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 95.10 Td (The ) Tj ET Q q 0 0 0 rg BT 68.08 95.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 109.49 95.10 Td (has ) Tj ET Q q 0 0 0 rg BT 125.35 95.10 Td (not ) Tj ET Q q 0 0 0 rg BT 140.66 95.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 178.16 95.10 Td (federal ) Tj ET Q q 0 0 0 rg BT 208.44 95.10 Td (income ) Tj ET Q q 0 0 0 rg BT 240.40 95.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 255.15 95.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 289.88 95.10 Td (due ) Tj ET Q q 0 0 0 rg BT 306.85 95.10 Td (to ) Tj ET Q q 0 0 0 rg BT 317.16 95.10 Td (the ) Tj ET Q q 0 0 0 rg BT 331.90 95.10 Td (generation ) Tj ET Q q 0 0 0 rg BT 376.63 95.10 Td (of ) Tj ET Q q 0 0 0 rg BT 387.49 95.10 Td (net ) Tj ET Q q 0 0 0 rg BT 402.24 95.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 442.53 95.10 Td (losses. ) Tj ET Q q 0 0 0 rg BT 471.45 95.10 Td (Deferred ) Tj ET Q q 0 0 0 rg BT 509.50 95.10 Td (income ) Tj ET Q q 0 0 0 rg BT 541.47 95.10 Td (taxes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 83.10 Td (are ) Tj ET Q q 0 0 0 rg BT 64.08 83.10 Td (accounted ) Tj ET Q q 0 0 0 rg BT 106.48 83.10 Td (for ) Tj ET Q q 0 0 0 rg BT 120.01 83.10 Td (using ) Tj ET Q q 0 0 0 rg BT 143.56 83.10 Td (the ) Tj ET Q q 0 0 0 rg BT 157.64 83.10 Td (balance ) Tj ET Q q 0 0 0 rg BT 190.05 83.10 Td (sheet ) Tj ET Q q 0 0 0 rg BT 212.47 83.10 Td (approach ) Tj ET Q q 0 0 0 rg BT 250.98 83.10 Td (which ) Tj ET Q q 0 0 0 rg BT 277.29 83.10 Td (requires ) Tj ET Q q 0 0 0 rg BT 311.37 83.10 Td (recognition ) Tj ET Q q 0 0 0 rg BT 358.79 83.10 Td (of ) Tj ET Q q 0 0 0 rg BT 368.99 83.10 Td (deferred ) Tj ET Q q 0 0 0 rg BT 404.16 83.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 418.25 83.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 443.45 83.10 Td (and ) Tj ET Q q 0 0 0 rg BT 459.76 83.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 498.85 83.10 Td (for ) Tj ET Q q 0 0 0 rg BT 512.38 83.10 Td (the ) Tj ET Q q 0 0 0 rg BT 526.47 83.10 Td (expected ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 71.10 Td (future ) Tj ET Q q 0 0 0 rg BT 76.74 71.10 Td (consequences ) Tj ET Q q 0 0 0 rg BT 134.59 71.10 Td (of ) Tj ET Q q 0 0 0 rg BT 145.79 71.10 Td (temporary ) Tj ET Q q 0 0 0 rg BT 189.75 71.10 Td (dif) Tj ET Q q 0 0 0 rg BT 200.67 71.10 Td (ferences ) Tj ET Q q 0 0 0 rg BT 236.85 71.10 Td (between ) Tj ET Q q 0 0 0 rg BT 273.03 71.10 Td (the ) Tj ET Q q 0 0 0 rg BT 288.12 71.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 325.96 71.10 Td (reporting ) Tj ET Q q 0 0 0 rg BT 365.49 71.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 388.35 71.10 Td (and ) Tj ET Q q 0 0 0 rg BT 405.66 71.10 Td (the ) Tj ET Q q 0 0 0 rg BT 420.75 71.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 435.83 71.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 458.70 71.10 Td (of ) Tj ET Q q 0 0 0 rg BT 469.90 71.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 496.09 71.10 Td (and ) Tj ET Q q 0 0 0 rg BT 513.40 71.10 Td (liabilities. ) Tj ET Q q 0 0 0 rg BT 555.35 71.10 Td (A) Tj ET Q q 0 0 0 rg BT 562.02 71.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 59.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 89.38 59.10 Td (allowance ) Tj ET Q q 0 0 0 rg BT 132.08 59.10 Td (is ) Tj ET Q q 0 0 0 rg BT 140.91 59.10 Td (provided ) Tj ET Q q 0 0 0 rg BT 178.62 59.10 Td (when ) Tj ET Q q 0 0 0 rg BT 202.45 59.10 Td (it ) Tj ET Q q 0 0 0 rg BT 210.17 59.10 Td (is ) Tj ET Q q 0 0 0 rg BT 219.01 59.10 Td (more ) Tj ET Q q 0 0 0 rg BT 241.72 59.10 Td (likely ) Tj ET Q q 0 0 0 rg BT 266.66 59.10 Td (than ) Tj ET Q q 0 0 0 rg BT 286.04 59.10 Td (not ) Tj ET Q q 0 0 0 rg BT 300.98 59.10 Td (that ) Tj ET Q q 0 0 0 rg BT 318.14 59.10 Td (a ) Tj ET Q q 0 0 0 rg BT 324.75 59.10 Td (deferred ) Tj ET Q q 0 0 0 rg BT 360.22 59.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 374.60 59.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 396.21 59.10 Td (will ) Tj ET Q q 0 0 0 rg BT 413.93 59.10 Td (not ) Tj ET Q q 0 0 0 rg BT 428.87 59.10 Td (be ) Tj ET Q q 0 0 0 rg BT 440.48 59.10 Td (realized. ) Tj ET Q q 0 0 0 rg BT 476.78 59.10 Td ( ) Tj ET Q q 0 0 0 rg BT 478.79 59.10 Td (The ) Tj ET Q q 0 0 0 rg BT 496.50 59.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 537.56 59.10 Td (incurs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 47.10 Td (minimal ) Tj ET Q q 0 0 0 rg BT 85.07 47.10 Td (state ) Tj ET Q q 0 0 0 rg BT 105.13 47.10 Td (franchise ) Tj ET Q q 0 0 0 rg BT 143.51 47.10 Td (taxes ) Tj ET Q q 0 0 0 rg BT 165.79 47.10 Td (in ) Tj ET Q q 0 0 0 rg BT 175.31 47.10 Td (two ) Tj ET Q q 0 0 0 rg BT 192.04 47.10 Td (states ) Tj ET Q q 0 0 0 rg BT 215.99 47.10 Td (which ) Tj ET Q q 0 0 0 rg BT 242.17 47.10 Td (is ) Tj ET Q q 0 0 0 rg BT 250.57 47.10 Td (included ) Tj ET Q q 0 0 0 rg BT 286.74 47.10 Td (in ) Tj ET Q q 0 0 0 rg BT 296.26 47.10 Td (general ) Tj ET Q q 0 0 0 rg BT 327.42 47.10 Td (and ) Tj ET Q q 0 0 0 rg BT 343.59 47.10 Td (administrative ) Tj ET Q q 0 0 0 rg BT 402.53 47.10 Td (expenses ) Tj ET Q q 0 0 0 rg BT 440.37 47.10 Td (in ) Tj ET Q q 0 0 0 rg BT 449.88 47.10 Td (the ) Tj ET Q q 0 0 0 rg BT 463.84 47.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 507.78 47.10 Td (of ) Tj ET Q q 0 0 0 rg BT 517.85 47.10 Td (operations. ) Tj ET Q endstream endobj 21 0 obj <> endobj 22 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 283.05 772.75 Td (IZEA, Inc.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 181.55 760.75 Td (Notes to the Unaudited Consolidated Financial Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 731.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 719.10 Td (The ) Tj ET Q q 0 0 0 rg BT 68.67 719.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 110.67 719.10 Td (identifies ) Tj ET Q q 0 0 0 rg BT 151.00 719.10 Td (and ) Tj ET Q q 0 0 0 rg BT 168.56 719.10 Td (evaluates ) Tj ET Q q 0 0 0 rg BT 208.88 719.10 Td (uncertain ) Tj ET Q q 0 0 0 rg BT 249.20 719.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 264.54 719.10 Td (positions, ) Tj ET Q q 0 0 0 rg BT 306.28 719.10 Td (if ) Tj ET Q q 0 0 0 rg BT 315.50 719.10 Td (any) Tj ET Q q 0 0 0 rg BT 329.29 719.10 Td (, ) Tj ET Q q 0 0 0 rg BT 334.91 719.10 Td (and ) Tj ET Q q 0 0 0 rg BT 352.47 719.10 Td (recognizes ) Tj ET Q q 0 0 0 rg BT 398.34 719.10 Td (the ) Tj ET Q q 0 0 0 rg BT 413.68 719.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 444.01 719.10 Td (of ) Tj ET Q q 0 0 0 rg BT 455.46 719.10 Td (uncertain ) Tj ET Q q 0 0 0 rg BT 495.78 719.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 511.12 719.10 Td (positions ) Tj ET Q q 0 0 0 rg BT 550.35 719.10 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 707.10 Td (which ) Tj ET Q q 0 0 0 rg BT 77.61 707.10 Td (there ) Tj ET Q q 0 0 0 rg BT 100.77 707.10 Td (is ) Tj ET Q q 0 0 0 rg BT 110.62 707.10 Td (a ) Tj ET Q q 0 0 0 rg BT 118.23 707.10 Td (less ) Tj ET Q q 0 0 0 rg BT 136.41 707.10 Td (than ) Tj ET Q q 0 0 0 rg BT 156.80 707.10 Td (more-likely-than-not ) Tj ET Q q 0 0 0 rg BT 243.28 707.10 Td (probability ) Tj ET Q q 0 0 0 rg BT 290.34 707.10 Td (of ) Tj ET Q q 0 0 0 rg BT 301.84 707.10 Td (the ) Tj ET Q q 0 0 0 rg BT 317.24 707.10 Td (position ) Tj ET Q q 0 0 0 rg BT 352.64 707.10 Td (being ) Tj ET Q q 0 0 0 rg BT 378.03 707.10 Td (upheld ) Tj ET Q q 0 0 0 rg BT 408.42 707.10 Td (when ) Tj ET Q q 0 0 0 rg BT 433.26 707.10 Td (reviewed ) Tj ET Q q 0 0 0 rg BT 473.08 707.10 Td (by ) Tj ET Q q 0 0 0 rg BT 486.25 707.10 Td (the ) Tj ET Q q 0 0 0 rg BT 501.65 707.10 Td (relevant ) Tj ET Q q 0 0 0 rg BT 537.02 707.10 Td (taxing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 695.10 Td (authority) Tj ET Q q 0 0 0 rg BT 85.45 695.10 Td (. ) Tj ET Q q 0 0 0 rg BT 90.66 695.10 Td (Such ) Tj ET Q q 0 0 0 rg BT 113.36 695.10 Td (positions ) Tj ET Q q 0 0 0 rg BT 152.18 695.10 Td (are ) Tj ET Q q 0 0 0 rg BT 167.09 695.10 Td (deemed ) Tj ET Q q 0 0 0 rg BT 200.88 695.10 Td (to ) Tj ET Q q 0 0 0 rg BT 211.36 695.10 Td (be ) Tj ET Q q 0 0 0 rg BT 223.50 695.10 Td (unrecognized ) Tj ET Q q 0 0 0 rg BT 280.07 695.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 294.98 695.10 Td (benefits ) Tj ET Q q 0 0 0 rg BT 329.34 695.10 Td (and ) Tj ET Q q 0 0 0 rg BT 346.48 695.10 Td (a ) Tj ET Q q 0 0 0 rg BT 353.62 695.10 Td (corresponding ) Tj ET Q q 0 0 0 rg BT 413.53 695.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 447.34 695.10 Td (is ) Tj ET Q q 0 0 0 rg BT 456.71 695.10 Td (established ) Tj ET Q q 0 0 0 rg BT 503.85 695.10 Td (on ) Tj ET Q q 0 0 0 rg BT 516.55 695.10 Td (the ) Tj ET Q q 0 0 0 rg BT 531.47 695.10 Td (balance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 683.10 Td (sheet. ) Tj ET Q q 0 0 0 rg BT 76.25 683.10 Td (The ) Tj ET Q q 0 0 0 rg BT 95.24 683.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 137.57 683.10 Td (has ) Tj ET Q q 0 0 0 rg BT 154.35 683.10 Td (not ) Tj ET Q q 0 0 0 rg BT 170.58 683.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 217.89 683.10 Td (a ) Tj ET Q q 0 0 0 rg BT 225.77 683.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 260.33 683.10 Td (for ) Tj ET Q q 0 0 0 rg BT 275.43 683.10 Td (uncertain ) Tj ET Q q 0 0 0 rg BT 316.08 683.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 331.75 683.10 Td (positions. ) Tj ET Q q 0 0 0 rg BT 373.81 683.10 Td (If ) Tj ET Q q 0 0 0 rg BT 383.92 683.10 Td (there ) Tj ET Q q 0 0 0 rg BT 407.35 683.10 Td (were ) Tj ET Q q 0 0 0 rg BT 430.23 683.10 Td (an ) Tj ET Q q 0 0 0 rg BT 443.12 683.10 Td (unrecognized ) Tj ET Q q 0 0 0 rg BT 500.42 683.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 516.09 683.10 Td (benefit, ) Tj ET Q q 0 0 0 rg BT 549.80 683.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 671.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 92.08 671.10 Td (would ) Tj ET Q q 0 0 0 rg BT 120.27 671.10 Td (recognize ) Tj ET Q q 0 0 0 rg BT 162.33 671.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 194.95 671.10 Td (accrued ) Tj ET Q q 0 0 0 rg BT 229.23 671.10 Td (related ) Tj ET Q q 0 0 0 rg BT 259.62 671.10 Td (to ) Tj ET Q q 0 0 0 rg BT 270.59 671.10 Td (unrecognized ) Tj ET Q q 0 0 0 rg BT 327.65 671.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 343.06 671.10 Td (benefits ) Tj ET Q q 0 0 0 rg BT 377.91 671.10 Td (in ) Tj ET Q q 0 0 0 rg BT 388.88 671.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 421.50 671.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 456.90 671.10 Td (and ) Tj ET Q q 0 0 0 rg BT 474.53 671.10 Td (penalties ) Tj ET Q q 0 0 0 rg BT 513.27 671.10 Td (in ) Tj ET Q q 0 0 0 rg BT 524.24 671.10 Td (operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 659.10 Td (expenses. ) Tj ET Q q 0 0 0 rg BT 90.31 659.10 Td (The ) Tj ET Q q 0 0 0 rg BT 107.70 659.10 Td (Company) Tj ET Q q 0 0 0 rg BT 149.36 659.10 Td (s ) Tj ET Q q 0 0 0 rg BT 155.10 659.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 169.15 659.10 Td (years, ) Tj ET Q q 0 0 0 rg BT 194.60 659.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 224.76 659.10 Td (to ) Tj ET Q q 0 0 0 rg BT 234.38 659.10 Td (examination ) Tj ET Q q 0 0 0 rg BT 285.65 659.10 Td (by ) Tj ET Q q 0 0 0 rg BT 297.50 659.10 Td (the ) Tj ET Q q 0 0 0 rg BT 311.56 659.10 Td (Internal ) Tj ET Q q 0 0 0 rg BT 344.49 659.10 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 381.32 659.10 Td (Service, ) Tj ET Q q 0 0 0 rg BT 415.65 659.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 454.69 659.10 Td (remain ) Tj ET Q q 0 0 0 rg BT 484.30 659.10 Td (open ) Tj ET Q q 0 0 0 rg BT 505.58 659.10 Td (for ) Tj ET Q q 0 0 0 rg BT 519.08 659.10 Td (three ) Tj ET Q q 0 0 0 rg BT 540.91 659.10 Td (years ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 647.10 Td (from ) Tj ET Q q 0 0 0 rg BT 71.94 647.10 Td (the ) Tj ET Q q 0 0 0 rg BT 86.66 647.10 Td (date ) Tj ET Q q 0 0 0 rg BT 105.81 647.10 Td (of ) Tj ET Q q 0 0 0 rg BT 116.64 647.10 Td (filing.) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 50 621.53505859375 m 191.6552734375 621.53505859375 l s q 0 0 0 rg BT 50.00 623.10 Td (Derivative ) Tj ET Q q 0 0 0 rg BT 96.92 623.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 139.43 623.10 Td (Instruments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 611.10 Td (Derivative ) Tj ET Q q 0 0 0 rg BT 94.54 611.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 131.87 611.10 Td (instruments ) Tj ET Q q 0 0 0 rg BT 180.88 611.10 Td (are ) Tj ET Q q 0 0 0 rg BT 195.43 611.10 Td (defined ) Tj ET Q q 0 0 0 rg BT 227.75 611.10 Td (as ) Tj ET Q q 0 0 0 rg BT 238.43 611.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 275.75 611.10 Td (instruments ) Tj ET Q q 0 0 0 rg BT 324.76 611.10 Td (or ) Tj ET Q q 0 0 0 rg BT 335.43 611.10 Td (other ) Tj ET Q q 0 0 0 rg BT 358.32 611.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 396.76 611.10 Td (that ) Tj ET Q q 0 0 0 rg BT 414.09 611.10 Td (contain ) Tj ET Q q 0 0 0 rg BT 445.87 611.10 Td (a ) Tj ET Q q 0 0 0 rg BT 452.65 611.10 Td (notional ) Tj ET Q q 0 0 0 rg BT 487.77 611.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 520.11 611.10 Td (and ) Tj ET Q q 0 0 0 rg BT 536.89 611.10 Td (one ) Tj ET Q q 0 0 0 rg BT 553.67 611.10 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 599.10 Td (more ) Tj ET Q q 0 0 0 rg BT 71.86 599.10 Td (underlying ) Tj ET Q q 0 0 0 rg BT 116.50 599.10 Td (factor ) Tj ET Q q 0 0 0 rg BT 141.13 599.10 Td (\(e.g., ) Tj ET Q q 0 0 0 rg BT 162.72 599.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 193.46 599.10 Td (rate, ) Tj ET Q q 0 0 0 rg BT 212.26 599.10 Td (security ) Tj ET Q q 0 0 0 rg BT 245.23 599.10 Td (price ) Tj ET Q q 0 0 0 rg BT 266.54 599.10 Td (or ) Tj ET Q q 0 0 0 rg BT 276.18 599.10 Td (other ) Tj ET Q q 0 0 0 rg BT 298.04 599.10 Td (variable\), ) Tj ET Q q 0 0 0 rg BT 337.39 599.10 Td (require ) Tj ET Q q 0 0 0 rg BT 367.02 599.10 Td (no ) Tj ET Q q 0 0 0 rg BT 378.33 599.10 Td (initial ) Tj ET Q q 0 0 0 rg BT 402.98 599.10 Td (net ) Tj ET Q q 0 0 0 rg BT 416.51 599.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 461.71 599.10 Td (and ) Tj ET Q q 0 0 0 rg BT 477.46 599.10 Td (permit ) Tj ET Q q 0 0 0 rg BT 504.88 599.10 Td (net ) Tj ET Q q 0 0 0 rg BT 518.41 599.10 Td (settlement. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 587.10 Td (Derivative ) Tj ET Q q 0 0 0 rg BT 95.08 587.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 132.95 587.10 Td (instruments ) Tj ET Q q 0 0 0 rg BT 182.49 587.10 Td (may ) Tj ET Q q 0 0 0 rg BT 202.59 587.10 Td (be ) Tj ET Q q 0 0 0 rg BT 214.91 587.10 Td (free-standing ) Tj ET Q q 0 0 0 rg BT 270.55 587.10 Td (or ) Tj ET Q q 0 0 0 rg BT 281.76 587.10 Td (embedded ) Tj ET Q q 0 0 0 rg BT 325.74 587.10 Td (in ) Tj ET Q q 0 0 0 rg BT 336.40 587.10 Td (other ) Tj ET Q q 0 0 0 rg BT 359.83 587.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 397.69 587.10 Td (instruments. ) Tj ET Q q 0 0 0 rg BT 449.74 587.10 Td (Further) Tj ET Q q 0 0 0 rg BT 478.78 587.10 Td (, ) Tj ET Q q 0 0 0 rg BT 484.16 587.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 527.02 587.10 Td (financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 575.10 Td (instruments ) Tj ET Q q 0 0 0 rg BT 100.09 575.10 Td (are ) Tj ET Q q 0 0 0 rg BT 115.72 575.10 Td (initially) Tj ET Q q 0 0 0 rg BT 146.18 575.10 Td (, ) Tj ET Q q 0 0 0 rg BT 152.10 575.10 Td (and ) Tj ET Q q 0 0 0 rg BT 169.96 575.10 Td (subsequently) Tj ET Q q 0 0 0 rg BT 221.53 575.10 Td (, ) Tj ET Q q 0 0 0 rg BT 227.45 575.10 Td (measured ) Tj ET Q q 0 0 0 rg BT 269.19 575.10 Td (at ) Tj ET Q q 0 0 0 rg BT 279.83 575.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 297.13 575.10 Td (value ) Tj ET Q q 0 0 0 rg BT 322.21 575.10 Td (and ) Tj ET Q q 0 0 0 rg BT 340.07 575.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 378.47 575.10 Td (as ) Tj ET Q q 0 0 0 rg BT 390.22 575.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 430.86 575.10 Td (or) Tj ET Q q 0 0 0 rg BT 438.79 575.10 Td (, ) Tj ET Q q 0 0 0 rg BT 444.71 575.10 Td (in ) Tj ET Q q 0 0 0 rg BT 455.91 575.10 Td (rare ) Tj ET Q q 0 0 0 rg BT 474.87 575.10 Td (instances, ) Tj ET Q q 0 0 0 rg BT 517.45 575.10 Td (assets. ) Tj ET Q q 0 0 0 rg BT 546.46 575.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 563.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 90.64 563.10 Td (accounts ) Tj ET Q q 0 0 0 rg BT 127.38 563.10 Td (for ) Tj ET Q q 0 0 0 rg BT 140.80 563.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 182.53 563.10 Td (instruments ) Tj ET Q q 0 0 0 rg BT 230.95 563.10 Td (in ) Tj ET Q q 0 0 0 rg BT 240.48 563.10 Td (accordance ) Tj ET Q q 0 0 0 rg BT 287.20 563.10 Td (with ) Tj ET Q q 0 0 0 rg BT 306.34 563.10 Td (ASC ) Tj ET Q q 0 0 0 rg BT 327.55 563.10 Td (815, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 346.81 563.10 Td (Derivatives ) Tj ET Q q 0 0 0 rg BT 394.65 563.10 Td (and ) Tj ET Q q 0 0 0 rg BT 411.41 563.10 Td (Hedging) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.85 563.10 Td ( ) Tj ET Q q 0 0 0 rg BT 447.60 563.10 Td (\(ASC ) Tj ET Q q 0 0 0 rg BT 476.58 563.10 Td (815\), ) Tj ET Q q 0 0 0 rg BT 503.60 563.10 Td (which ) Tj ET Q q 0 0 0 rg BT 529.79 563.10 Td (requires ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 551.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 94.49 551.10 Td (disclosures ) Tj ET Q q 0 0 0 rg BT 143.42 551.10 Td (about ) Tj ET Q q 0 0 0 rg BT 170.13 551.10 Td (the ) Tj ET Q q 0 0 0 rg BT 186.85 551.10 Td (Company) Tj ET Q q 0 0 0 rg BT 228.51 551.10 Td (s ) Tj ET Q q 0 0 0 rg BT 236.90 551.10 Td (objectives ) Tj ET Q q 0 0 0 rg BT 281.94 551.10 Td (and ) Tj ET Q q 0 0 0 rg BT 300.87 551.10 Td (strategies ) Tj ET Q q 0 0 0 rg BT 343.13 551.10 Td (for ) Tj ET Q q 0 0 0 rg BT 359.29 551.10 Td (using ) Tj ET Q q 0 0 0 rg BT 385.45 551.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 429.93 551.10 Td (instruments, ) Tj ET Q q 0 0 0 rg BT 483.59 551.10 Td (how ) Tj ET Q q 0 0 0 rg BT 505.31 551.10 Td (the ) Tj ET Q q 0 0 0 rg BT 522.02 551.10 Td (derivative ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 539.10 Td (instruments ) Tj ET Q q 0 0 0 rg BT 99.21 539.10 Td (and ) Tj ET Q q 0 0 0 rg BT 116.19 539.10 Td (related ) Tj ET Q q 0 0 0 rg BT 145.94 539.10 Td (hedged ) Tj ET Q q 0 0 0 rg BT 177.36 539.10 Td (items ) Tj ET Q q 0 0 0 rg BT 201.57 539.10 Td (are ) Tj ET Q q 0 0 0 rg BT 216.33 539.10 Td (accounted ) Tj ET Q q 0 0 0 rg BT 259.40 539.10 Td (for) Tj ET Q q 0 0 0 rg BT 270.66 539.10 Td (, ) Tj ET Q q 0 0 0 rg BT 275.71 539.10 Td (and ) Tj ET Q q 0 0 0 rg BT 292.69 539.10 Td (how ) Tj ET Q q 0 0 0 rg BT 312.46 539.10 Td (the ) Tj ET Q q 0 0 0 rg BT 327.22 539.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 369.75 539.10 Td (instruments ) Tj ET Q q 0 0 0 rg BT 418.96 539.10 Td (and ) Tj ET Q q 0 0 0 rg BT 435.94 539.10 Td (related ) Tj ET Q q 0 0 0 rg BT 465.69 539.10 Td (hedging ) Tj ET Q q 0 0 0 rg BT 500.45 539.10 Td (items ) Tj ET Q q 0 0 0 rg BT 524.66 539.10 Td (af) Tj ET Q q 0 0 0 rg BT 532.25 539.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 549.78 539.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 527.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 86.63 527.10 Td (statements. ) Tj ET Q q 0 0 0 rg BT 132.86 527.10 Td (The ) Tj ET Q q 0 0 0 rg BT 150.05 527.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 190.58 527.10 Td (does ) Tj ET Q q 0 0 0 rg BT 210.56 527.10 Td (not ) Tj ET Q q 0 0 0 rg BT 224.98 527.10 Td (use ) Tj ET Q q 0 0 0 rg BT 239.96 527.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 281.58 527.10 Td (instruments ) Tj ET Q q 0 0 0 rg BT 329.89 527.10 Td (to ) Tj ET Q q 0 0 0 rg BT 339.31 527.10 Td (hedge ) Tj ET Q q 0 0 0 rg BT 364.84 527.10 Td (exposures ) Tj ET Q q 0 0 0 rg BT 406.47 527.10 Td (to ) Tj ET Q q 0 0 0 rg BT 415.89 527.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 435.31 527.10 Td (flow) Tj ET Q q 0 0 0 rg BT 452.99 527.10 Td (, ) Tj ET Q q 0 0 0 rg BT 457.13 527.10 Td (market ) Tj ET Q q 0 0 0 rg BT 486.54 527.10 Td (or ) Tj ET Q q 0 0 0 rg BT 496.51 527.10 Td (foreign ) Tj ET Q q 0 0 0 rg BT 527.04 527.10 Td (currency ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 515.10 Td (risk. ) Tj ET Q q 0 0 0 rg BT 69.33 515.10 Td (T) Tj ET Q q 0 0 0 rg BT 74.74 515.10 Td (erms ) Tj ET Q q 0 0 0 rg BT 96.15 515.10 Td (of ) Tj ET Q q 0 0 0 rg BT 106.46 515.10 Td (convertible ) Tj ET Q q 0 0 0 rg BT 153.41 515.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 172.60 515.10 Td (and ) Tj ET Q q 0 0 0 rg BT 189.02 515.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 215.99 515.10 Td (instruments ) Tj ET Q q 0 0 0 rg BT 264.62 515.10 Td (are ) Tj ET Q q 0 0 0 rg BT 278.81 515.10 Td (reviewed ) Tj ET Q q 0 0 0 rg BT 317.43 515.10 Td (to ) Tj ET Q q 0 0 0 rg BT 327.18 515.10 Td (determine ) Tj ET Q q 0 0 0 rg BT 369.13 515.10 Td (whether ) Tj ET Q q 0 0 0 rg BT 403.31 515.10 Td (or ) Tj ET Q q 0 0 0 rg BT 413.62 515.10 Td (not ) Tj ET Q q 0 0 0 rg BT 428.37 515.10 Td (they ) Tj ET Q q 0 0 0 rg BT 447.56 515.10 Td (contain ) Tj ET Q q 0 0 0 rg BT 478.97 515.10 Td (embedded ) Tj ET Q q 0 0 0 rg BT 522.04 515.10 Td (derivative ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 503.10 Td (instruments ) Tj ET Q q 0 0 0 rg BT 99.32 503.10 Td (that ) Tj ET Q q 0 0 0 rg BT 116.97 503.10 Td (are ) Tj ET Q q 0 0 0 rg BT 131.83 503.10 Td (required ) Tj ET Q q 0 0 0 rg BT 167.79 503.10 Td (under ) Tj ET Q q 0 0 0 rg BT 192.63 503.10 Td (ASC ) Tj ET Q q 0 0 0 rg BT 214.74 503.10 Td (815 ) Tj ET Q q 0 0 0 rg BT 232.39 503.10 Td (to ) Tj ET Q q 0 0 0 rg BT 242.82 503.10 Td (be ) Tj ET Q q 0 0 0 rg BT 254.91 503.10 Td (accounted ) Tj ET Q q 0 0 0 rg BT 298.10 503.10 Td (for ) Tj ET Q q 0 0 0 rg BT 312.41 503.10 Td (separately ) Tj ET Q q 0 0 0 rg BT 355.59 503.10 Td (from ) Tj ET Q q 0 0 0 rg BT 377.69 503.10 Td (the ) Tj ET Q q 0 0 0 rg BT 392.56 503.10 Td (host ) Tj ET Q q 0 0 0 rg BT 411.88 503.10 Td (contract, ) Tj ET Q q 0 0 0 rg BT 449.23 503.10 Td (and ) Tj ET Q q 0 0 0 rg BT 466.32 503.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 503.95 503.10 Td (on ) Tj ET Q q 0 0 0 rg BT 516.61 503.10 Td (the ) Tj ET Q q 0 0 0 rg BT 531.48 503.10 Td (balance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 491.10 Td (sheet ) Tj ET Q q 0 0 0 rg BT 72.22 491.10 Td (at ) Tj ET Q q 0 0 0 rg BT 81.12 491.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 96.67 491.10 Td (value. ) Tj ET Q q 0 0 0 rg BT 122.38 491.10 Td (The ) Tj ET Q q 0 0 0 rg BT 139.60 491.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 155.16 491.10 Td (value ) Tj ET Q q 0 0 0 rg BT 178.49 491.10 Td (of ) Tj ET Q q 0 0 0 rg BT 188.49 491.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 230.15 491.10 Td (liabilities, ) Tj ET Q q 0 0 0 rg BT 271.54 491.10 Td (if ) Tj ET Q q 0 0 0 rg BT 279.33 491.10 Td (any) Tj ET Q q 0 0 0 rg BT 293.12 491.10 Td (, ) Tj ET Q q 0 0 0 rg BT 297.29 491.10 Td (is ) Tj ET Q q 0 0 0 rg BT 305.64 491.10 Td (required ) Tj ET Q q 0 0 0 rg BT 340.63 491.10 Td (to ) Tj ET Q q 0 0 0 rg BT 350.09 491.10 Td (be ) Tj ET Q q 0 0 0 rg BT 361.20 491.10 Td (revalued ) Tj ET Q q 0 0 0 rg BT 397.30 491.10 Td (at ) Tj ET Q q 0 0 0 rg BT 406.19 491.10 Td (each ) Tj ET Q q 0 0 0 rg BT 426.19 491.10 Td (reporting ) Tj ET Q q 0 0 0 rg BT 464.52 491.10 Td (date, ) Tj ET Q q 0 0 0 rg BT 485.35 491.10 Td (with ) Tj ET Q q 0 0 0 rg BT 504.80 491.10 Td (corresponding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 479.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 85.02 479.10 Td (in ) Tj ET Q q 0 0 0 rg BT 95.60 479.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 112.29 479.10 Td (value ) Tj ET Q q 0 0 0 rg BT 136.75 479.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 174.54 479.10 Td (in ) Tj ET Q q 0 0 0 rg BT 185.13 479.10 Td (current ) Tj ET Q q 0 0 0 rg BT 216.25 479.10 Td (period ) Tj ET Q q 0 0 0 rg BT 244.61 479.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 285.18 479.10 Td (results. ) Tj ET Q q 0 0 0 rg BT 316.60 479.10 Td (Pursuant ) Tj ET Q q 0 0 0 rg BT 354.41 479.10 Td (to ) Tj ET Q q 0 0 0 rg BT 364.37 479.10 Td (ASC ) Tj ET Q q 0 0 0 rg BT 386.64 479.10 Td (815, ) Tj ET Q q 0 0 0 rg BT 406.94 479.10 Td (an ) Tj ET Q q 0 0 0 rg BT 419.19 479.10 Td (evaluation ) Tj ET Q q 0 0 0 rg BT 463.65 479.10 Td (of ) Tj ET Q q 0 0 0 rg BT 474.79 479.10 Td (specifically ) Tj ET Q q 0 0 0 rg BT 523.69 479.10 Td (identified ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 467.10 Td (conditions ) Tj ET Q q 0 0 0 rg BT 94.26 467.10 Td (is ) Tj ET Q q 0 0 0 rg BT 103.53 467.10 Td (made ) Tj ET Q q 0 0 0 rg BT 127.79 467.10 Td (to ) Tj ET Q q 0 0 0 rg BT 138.17 467.10 Td (determine ) Tj ET Q q 0 0 0 rg BT 180.74 467.10 Td (whether ) Tj ET Q q 0 0 0 rg BT 215.55 467.10 Td (the ) Tj ET Q q 0 0 0 rg BT 230.37 467.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 246.84 467.10 Td (value ) Tj ET Q q 0 0 0 rg BT 271.10 467.10 Td (of ) Tj ET Q q 0 0 0 rg BT 282.03 467.10 Td (warrants ) Tj ET Q q 0 0 0 rg BT 319.05 467.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 346.65 467.10 Td (is ) Tj ET Q q 0 0 0 rg BT 355.92 467.10 Td (required ) Tj ET Q q 0 0 0 rg BT 391.84 467.10 Td (to ) Tj ET Q q 0 0 0 rg BT 402.21 467.10 Td (be ) Tj ET Q q 0 0 0 rg BT 414.25 467.10 Td (classified ) Tj ET Q q 0 0 0 rg BT 454.61 467.10 Td (as ) Tj ET Q q 0 0 0 rg BT 465.54 467.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 493.14 467.10 Td (or ) Tj ET Q q 0 0 0 rg BT 504.07 467.10 Td (as ) Tj ET Q q 0 0 0 rg BT 515.00 467.10 Td (a ) Tj ET Q q 0 0 0 rg BT 522.03 467.10 Td (derivative ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 455.10 Td (liability) Tj ET Q q 0 0 0 rg BT 80.46 455.10 Td (. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 50 429.53505859375 m 202.607421875 429.53505859375 l s q 0 0 0 rg BT 50.00 431.10 Td (Fair) Tj ET Q q 0 0 0 rg BT 68.14 431.10 Td ( ) Tj ET Q q 0 0 0 rg BT 70.46 431.10 Td (V) Tj ET Q q 0 0 0 rg BT 76.77 431.10 Td (alue ) Tj ET Q q 0 0 0 rg BT 97.05 431.10 Td (of ) Tj ET Q q 0 0 0 rg BT 107.88 431.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 150.38 431.10 Td (Instruments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 419.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.59 419.10 Td (Company) Tj ET Q q 0 0 0 rg BT 109.25 419.10 Td (s ) Tj ET Q q 0 0 0 rg BT 115.19 419.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 152.21 419.10 Td (instruments ) Tj ET Q q 0 0 0 rg BT 200.91 419.10 Td (are ) Tj ET Q q 0 0 0 rg BT 215.16 419.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 252.18 419.10 Td (at ) Tj ET Q q 0 0 0 rg BT 261.44 419.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 277.35 419.10 Td (value. ) Tj ET Q q 0 0 0 rg BT 303.55 419.10 Td (Fair ) Tj ET Q q 0 0 0 rg BT 321.70 419.10 Td (value ) Tj ET Q q 0 0 0 rg BT 345.40 419.10 Td (is ) Tj ET Q q 0 0 0 rg BT 354.11 419.10 Td (defined ) Tj ET Q q 0 0 0 rg BT 386.13 419.10 Td (as ) Tj ET Q q 0 0 0 rg BT 396.50 419.10 Td (the ) Tj ET Q q 0 0 0 rg BT 410.76 419.10 Td (exchange ) Tj ET Q q 0 0 0 rg BT 450.56 419.10 Td (price ) Tj ET Q q 0 0 0 rg BT 472.58 419.10 Td (that ) Tj ET Q q 0 0 0 rg BT 489.62 419.10 Td (would ) Tj ET Q q 0 0 0 rg BT 516.66 419.10 Td (be ) Tj ET Q q 0 0 0 rg BT 528.14 419.10 Td (received ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 407.10 Td (for ) Tj ET Q q 0 0 0 rg BT 64.37 407.10 Td (an ) Tj ET Q q 0 0 0 rg BT 76.51 407.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 98.66 407.10 Td (or ) Tj ET Q q 0 0 0 rg BT 109.69 407.10 Td (paid ) Tj ET Q q 0 0 0 rg BT 129.62 407.10 Td (to ) Tj ET Q q 0 0 0 rg BT 140.10 407.10 Td (transfer ) Tj ET Q q 0 0 0 rg BT 173.35 407.10 Td (a ) Tj ET Q q 0 0 0 rg BT 180.49 407.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 214.31 407.10 Td (\(an ) Tj ET Q q 0 0 0 rg BT 229.78 407.10 Td (exit ) Tj ET Q q 0 0 0 rg BT 247.48 407.10 Td (price\) ) Tj ET Q q 0 0 0 rg BT 273.50 407.10 Td (in ) Tj ET Q q 0 0 0 rg BT 283.99 407.10 Td (the ) Tj ET Q q 0 0 0 rg BT 298.91 407.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 337.16 407.10 Td (or ) Tj ET Q q 0 0 0 rg BT 348.20 407.10 Td (most ) Tj ET Q q 0 0 0 rg BT 370.35 407.10 Td (advantageous ) Tj ET Q q 0 0 0 rg BT 427.48 407.10 Td (market ) Tj ET Q q 0 0 0 rg BT 457.95 407.10 Td (for ) Tj ET Q q 0 0 0 rg BT 472.32 407.10 Td (the ) Tj ET Q q 0 0 0 rg BT 487.24 407.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 509.39 407.10 Td (or ) Tj ET Q q 0 0 0 rg BT 520.42 407.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 554.24 407.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 395.10 Td (an ) Tj ET Q q 0 0 0 rg BT 62.18 395.10 Td (orderly ) Tj ET Q q 0 0 0 rg BT 93.79 395.10 Td (transaction ) Tj ET Q q 0 0 0 rg BT 140.40 395.10 Td (between ) Tj ET Q q 0 0 0 rg BT 176.45 395.10 Td (market ) Tj ET Q q 0 0 0 rg BT 206.95 395.10 Td (participants ) Tj ET Q q 0 0 0 rg BT 256.34 395.10 Td (on ) Tj ET Q q 0 0 0 rg BT 269.07 395.10 Td (the ) Tj ET Q q 0 0 0 rg BT 284.03 395.10 Td (measurement ) Tj ET Q q 0 0 0 rg BT 340.08 395.10 Td (date. ) Tj ET Q q 0 0 0 rg BT 361.77 395.10 Td (The ) Tj ET Q q 0 0 0 rg BT 380.05 395.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 420.00 395.10 Td (techniques ) Tj ET Q q 0 0 0 rg BT 465.50 395.10 Td (are ) Tj ET Q q 0 0 0 rg BT 480.45 395.10 Td (based ) Tj ET Q q 0 0 0 rg BT 505.95 395.10 Td (on ) Tj ET Q q 0 0 0 rg BT 518.69 395.10 Td (observable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 383.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.93 383.10 Td (unobservable ) Tj ET Q q 0 0 0 rg BT 122.74 383.10 Td (inputs. ) Tj ET Q q 0 0 0 rg BT 152.19 383.10 Td (Observable ) Tj ET Q q 0 0 0 rg BT 200.22 383.10 Td (inputs ) Tj ET Q q 0 0 0 rg BT 227.16 383.10 Td (reflect ) Tj ET Q q 0 0 0 rg BT 255.19 383.10 Td (readily ) Tj ET Q q 0 0 0 rg BT 285.45 383.10 Td (obtainable ) Tj ET Q q 0 0 0 rg BT 329.59 383.10 Td (data ) Tj ET Q q 0 0 0 rg BT 348.75 383.10 Td (from ) Tj ET Q q 0 0 0 rg BT 370.68 383.10 Td (independent ) Tj ET Q q 0 0 0 rg BT 422.05 383.10 Td (sources, ) Tj ET Q q 0 0 0 rg BT 457.03 383.10 Td (while ) Tj ET Q q 0 0 0 rg BT 481.74 383.10 Td (unobservable ) Tj ET Q q 0 0 0 rg BT 537.55 383.10 Td (inputs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 371.10 Td (reflect ) Tj ET Q q 0 0 0 rg BT 78.03 371.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 107.73 371.10 Td (market ) Tj ET Q q 0 0 0 rg BT 138.00 371.10 Td (assumptions. ) Tj ET Q q 0 0 0 rg BT 192.45 371.10 Td ( ) Tj ET Q q 0 0 0 rg BT 194.77 371.10 Td (There ) Tj ET Q q 0 0 0 rg BT 220.58 371.10 Td (are ) Tj ET Q q 0 0 0 rg BT 235.29 371.10 Td (three ) Tj ET Q q 0 0 0 rg BT 257.77 371.10 Td (levels ) Tj ET Q q 0 0 0 rg BT 283.60 371.10 Td (of ) Tj ET Q q 0 0 0 rg BT 294.43 371.10 Td (inputs ) Tj ET Q q 0 0 0 rg BT 321.38 371.10 Td (that ) Tj ET Q q 0 0 0 rg BT 338.87 371.10 Td (may ) Tj ET Q q 0 0 0 rg BT 358.59 371.10 Td (be ) Tj ET Q q 0 0 0 rg BT 370.53 371.10 Td (used ) Tj ET Q q 0 0 0 rg BT 391.36 371.10 Td (to ) Tj ET Q q 0 0 0 rg BT 401.64 371.10 Td (measure ) Tj ET Q q 0 0 0 rg BT 437.45 371.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 453.83 371.10 Td (value:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 359.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 347.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 347.10 Td (Level 1 ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 118.76 347.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 123.76 347.10 Td ( ) Tj ET Q q 0 0 0 rg BT 126.08 347.10 Td (V) Tj ET Q q 0 0 0 rg BT 132.20 347.10 Td (aluation based on quoted market prices in active markets for identical assets and liabilities.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 326.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 326.10 Td (Level 2 ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 118.76 326.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 123.76 326.10 Td ( ) Tj ET Q q 0 0 0 rg BT 126.08 326.10 Td (V) Tj ET Q q 0 0 0 rg BT 132.20 326.10 Td (aluation based on quoted market prices for similar assets and liabilities in active markets.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 305.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 305.10 Td (Level 3 ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 118.76 305.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 123.76 305.10 Td ( ) Tj ET Q q 0 0 0 rg BT 126.08 305.10 Td (V) Tj ET Q q 0 0 0 rg BT 132.20 305.10 Td (aluation based on unobservable inputs that are supported by little or no market activity) Tj ET Q q 0 0 0 rg BT 477.85 305.10 Td (, therefore requiring ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 293.10 Td (management) Tj ET Q q 0 0 0 rg BT 139.87 293.10 Td (s best estimate of what market participants would use as fair value.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 272.10 Td (Fair ) Tj ET Q q 0 0 0 rg BT 70.99 272.10 Td (value ) Tj ET Q q 0 0 0 rg BT 97.53 272.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 139.63 272.10 Td (discussed ) Tj ET Q q 0 0 0 rg BT 182.84 272.10 Td (herein ) Tj ET Q q 0 0 0 rg BT 212.71 272.10 Td (are ) Tj ET Q q 0 0 0 rg BT 229.80 272.10 Td (based ) Tj ET Q q 0 0 0 rg BT 257.45 272.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 282.34 272.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 314.42 272.10 Td (market ) Tj ET Q q 0 0 0 rg BT 347.07 272.10 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 401.40 272.10 Td (and ) Tj ET Q q 0 0 0 rg BT 420.72 272.10 Td (pertinent ) Tj ET Q q 0 0 0 rg BT 461.15 272.10 Td (information ) Tj ET Q q 0 0 0 rg BT 513.25 272.10 Td (available ) Tj ET Q q 0 0 0 rg BT 554.22 272.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 260.10 Td (management. ) Tj ET Q q 0 0 0 rg BT 107.07 260.10 Td ( ) Tj ET Q q 0 0 0 rg BT 110.30 260.10 Td (The ) Tj ET Q q 0 0 0 rg BT 129.34 260.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 171.71 260.10 Td (does ) Tj ET Q q 0 0 0 rg BT 193.52 260.10 Td (not ) Tj ET Q q 0 0 0 rg BT 209.78 260.10 Td (have ) Tj ET Q q 0 0 0 rg BT 232.14 260.10 Td (any ) Tj ET Q q 0 0 0 rg BT 250.07 260.10 Td (Level ) Tj ET Q q 0 0 0 rg BT 276.31 260.10 Td (1 ) Tj ET Q q 0 0 0 rg BT 284.80 260.10 Td (or ) Tj ET Q q 0 0 0 rg BT 296.61 260.10 Td (2 ) Tj ET Q q 0 0 0 rg BT 305.09 260.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 343.56 260.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 370.37 260.10 Td (or ) Tj ET Q q 0 0 0 rg BT 382.19 260.10 Td (liabilities.) Tj ET Q q 0 0 0 rg BT 424.22 260.10 Td (The ) Tj ET Q q 0 0 0 rg BT 443.25 260.10 Td (Company) Tj ET Q q 0 0 0 rg BT 484.92 260.10 Td (s ) Tj ET Q q 0 0 0 rg BT 492.29 260.10 Td (Level ) Tj ET Q q 0 0 0 rg BT 518.54 260.10 Td (3 ) Tj ET Q q 0 0 0 rg BT 527.03 260.10 Td (financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 248.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 90.07 248.10 Td (measured ) Tj ET Q q 0 0 0 rg BT 131.23 248.10 Td (at ) Tj ET Q q 0 0 0 rg BT 141.30 248.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 158.03 248.10 Td (value ) Tj ET Q q 0 0 0 rg BT 182.53 248.10 Td (consisted ) Tj ET Q q 0 0 0 rg BT 222.60 248.10 Td (of ) Tj ET Q q 0 0 0 rg BT 233.78 248.10 Td (a ) Tj ET Q q 0 0 0 rg BT 241.07 248.10 Td (warrant ) Tj ET Q q 0 0 0 rg BT 274.46 248.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 308.42 248.10 Td (\(see ) Tj ET Q q 0 0 0 rg BT 327.37 248.10 Td (Note ) Tj ET Q q 0 0 0 rg BT 349.66 248.10 Td (4\) ) Tj ET Q q 0 0 0 rg BT 360.84 248.10 Td (and ) Tj ET Q q 0 0 0 rg BT 378.13 248.10 Td (its ) Tj ET Q q 0 0 0 rg BT 390.42 248.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 437.16 248.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 456.12 248.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 490.08 248.10 Td (\(see ) Tj ET Q q 0 0 0 rg BT 509.02 248.10 Td (Note ) Tj ET Q q 0 0 0 rg BT 531.31 248.10 Td (2\) ) Tj ET Q q 0 0 0 rg BT 542.49 248.10 Td (as ) Tj ET Q q 0 0 0 rg BT 553.67 248.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 236.10 Td (September30, ) Tj ET Q q 0 0 0 rg BT 110.59 236.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.59 236.10 Td (. ) Tj ET Q q 0 0 0 rg BT 135.91 236.10 Td ( ) Tj ET Q q 0 0 0 rg BT 138.73 236.10 Td (Significant ) Tj ET Q q 0 0 0 rg BT 185.43 236.10 Td (unobservable ) Tj ET Q q 0 0 0 rg BT 241.57 236.10 Td (inputs ) Tj ET Q q 0 0 0 rg BT 268.84 236.10 Td (used ) Tj ET Q q 0 0 0 rg BT 290.00 236.10 Td (in ) Tj ET Q q 0 0 0 rg BT 300.60 236.10 Td (the ) Tj ET Q q 0 0 0 rg BT 315.63 236.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 332.33 236.10 Td (value ) Tj ET Q q 0 0 0 rg BT 356.81 236.10 Td (measurement ) Tj ET Q q 0 0 0 rg BT 412.94 236.10 Td (of ) Tj ET Q q 0 0 0 rg BT 424.10 236.10 Td (the ) Tj ET Q q 0 0 0 rg BT 439.14 236.10 Td (warrants ) Tj ET Q q 0 0 0 rg BT 476.39 236.10 Td (include ) Tj ET Q q 0 0 0 rg BT 508.64 236.10 Td (the ) Tj ET Q q 0 0 0 rg BT 523.68 236.10 Td (estimated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 224.10 Td (term ) Tj ET Q q 0 0 0 rg BT 71.19 224.10 Td (and ) Tj ET Q q 0 0 0 rg BT 88.49 224.10 Td (risk-adjusted ) Tj ET Q q 0 0 0 rg BT 143.00 224.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 175.30 224.10 Td (rates. ) Tj ET Q q 0 0 0 rg BT 199.54 224.10 Td ( ) Tj ET Q q 0 0 0 rg BT 202.40 224.10 Td (In ) Tj ET Q q 0 0 0 rg BT 213.59 224.10 Td (developing ) Tj ET Q q 0 0 0 rg BT 260.88 224.10 Td (our ) Tj ET Q q 0 0 0 rg BT 277.08 224.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 302.70 224.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 320.56 224.10 Td (assumption ) Tj ET Q q 0 0 0 rg BT 368.98 224.10 Td (used ) Tj ET Q q 0 0 0 rg BT 390.17 224.10 Td (in ) Tj ET Q q 0 0 0 rg BT 400.81 224.10 Td (the ) Tj ET Q q 0 0 0 rg BT 415.89 224.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 432.63 224.10 Td (value ) Tj ET Q q 0 0 0 rg BT 457.14 224.10 Td (of ) Tj ET Q q 0 0 0 rg BT 468.33 224.10 Td (warrants, ) Tj ET Q q 0 0 0 rg BT 508.13 224.10 Td (consideration ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 212.10 Td (was ) Tj ET Q q 0 0 0 rg BT 67.99 212.10 Td (made ) Tj ET Q q 0 0 0 rg BT 92.09 212.10 Td (of ) Tj ET Q q 0 0 0 rg BT 102.86 212.10 Td (publicly ) Tj ET Q q 0 0 0 rg BT 138.07 212.10 Td (available ) Tj ET Q q 0 0 0 rg BT 176.60 212.10 Td (bond ) Tj ET Q q 0 0 0 rg BT 199.04 212.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 220.36 212.10 Td (and ) Tj ET Q q 0 0 0 rg BT 237.24 212.10 Td (US ) Tj ET Q q 0 0 0 rg BT 252.29 212.10 Td (T) Tj ET Q q 0 0 0 rg BT 258.04 212.10 Td (reasury ) Tj ET Q q 0 0 0 rg BT 289.55 212.10 Td (Y) Tj ET Q q 0 0 0 rg BT 296.22 212.10 Td (ields. ) Tj ET Q q 0 0 0 rg BT 320.05 212.10 Td ( ) Tj ET Q q 0 0 0 rg BT 322.49 212.10 Td (However) Tj ET Q q 0 0 0 rg BT 358.74 212.10 Td (, ) Tj ET Q q 0 0 0 rg BT 363.68 212.10 Td (since ) Tj ET Q q 0 0 0 rg BT 386.66 212.10 Td (the ) Tj ET Q q 0 0 0 rg BT 401.32 212.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 442.65 212.10 Td (does ) Tj ET Q q 0 0 0 rg BT 463.42 212.10 Td (not ) Tj ET Q q 0 0 0 rg BT 478.64 212.10 Td (have ) Tj ET Q q 0 0 0 rg BT 499.96 212.10 Td (a ) Tj ET Q q 0 0 0 rg BT 506.83 212.10 Td (formal ) Tj ET Q q 0 0 0 rg BT 535.93 212.10 Td (credit-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 200.10 Td (standing, ) Tj ET Q q 0 0 0 rg BT 88.96 200.10 Td (management ) Tj ET Q q 0 0 0 rg BT 142.62 200.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 183.51 200.10 Td (its ) Tj ET Q q 0 0 0 rg BT 195.53 200.10 Td (standing ) Tj ET Q q 0 0 0 rg BT 231.99 200.10 Td (among ) Tj ET Q q 0 0 0 rg BT 261.78 200.10 Td (various ) Tj ET Q q 0 0 0 rg BT 293.79 200.10 Td (reported ) Tj ET Q q 0 0 0 rg BT 329.68 200.10 Td (levels ) Tj ET Q q 0 0 0 rg BT 355.58 200.10 Td (and ) Tj ET Q q 0 0 0 rg BT 372.59 200.10 Td (grades ) Tj ET Q q 0 0 0 rg BT 401.26 200.10 Td (for ) Tj ET Q q 0 0 0 rg BT 415.49 200.10 Td (use ) Tj ET Q q 0 0 0 rg BT 431.39 200.10 Td (in ) Tj ET Q q 0 0 0 rg BT 441.74 200.10 Td (the ) Tj ET Q q 0 0 0 rg BT 456.53 200.10 Td (model. ) Tj ET Q q 0 0 0 rg BT 486.60 200.10 Td (During ) Tj ET Q q 0 0 0 rg BT 517.50 200.10 Td (all ) Tj ET Q q 0 0 0 rg BT 530.07 200.10 Td (periods, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 188.10 Td (management ) Tj ET Q q 0 0 0 rg BT 103.65 188.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 144.53 188.10 Td (that ) Tj ET Q q 0 0 0 rg BT 162.08 188.10 Td (the ) Tj ET Q q 0 0 0 rg BT 176.86 188.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 224.00 188.10 Td (standing ) Tj ET Q q 0 0 0 rg BT 260.45 188.10 Td (was ) Tj ET Q q 0 0 0 rg BT 278.56 188.10 Td (in ) Tj ET Q q 0 0 0 rg BT 288.90 188.10 Td (the ) Tj ET Q q 0 0 0 rg BT 303.68 188.10 Td (speculative ) Tj ET Q q 0 0 0 rg BT 351.22 188.10 Td (to ) Tj ET Q q 0 0 0 rg BT 361.55 188.10 Td (high-risk ) Tj ET Q q 0 0 0 rg BT 400.22 188.10 Td (grades ) Tj ET Q q 0 0 0 rg BT 428.88 188.10 Td (\(BB- ) Tj ET Q q 0 0 0 rg BT 451.44 188.10 Td (to ) Tj ET Q q 0 0 0 rg BT 461.78 188.10 Td (CCC ) Tj ET Q q 0 0 0 rg BT 484.35 188.10 Td (in ) Tj ET Q q 0 0 0 rg BT 494.69 188.10 Td (the ) Tj ET Q q 0 0 0 rg BT 509.46 188.10 Td (Standard ) Tj ET Q q 0 0 0 rg BT 547.57 188.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 176.10 Td (Poor's ) Tj ET Q q 0 0 0 rg BT 77.15 176.10 Td (Rating\). ) Tj ET Q q 0 0 0 rg BT 112.21 176.10 Td ( ) Tj ET Q q 0 0 0 rg BT 114.78 176.10 Td (Significant ) Tj ET Q q 0 0 0 rg BT 161.23 176.10 Td (increases ) Tj ET Q q 0 0 0 rg BT 200.44 176.10 Td (or ) Tj ET Q q 0 0 0 rg BT 211.34 176.10 Td (decreases ) Tj ET Q q 0 0 0 rg BT 252.21 176.10 Td (in ) Tj ET Q q 0 0 0 rg BT 262.56 176.10 Td (the ) Tj ET Q q 0 0 0 rg BT 277.34 176.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 318.23 176.10 Td (remaining ) Tj ET Q q 0 0 0 rg BT 361.34 176.10 Td (period ) Tj ET Q q 0 0 0 rg BT 389.46 176.10 Td (to ) Tj ET Q q 0 0 0 rg BT 399.80 176.10 Td (exercise ) Tj ET Q q 0 0 0 rg BT 435.12 176.10 Td (or ) Tj ET Q q 0 0 0 rg BT 446.02 176.10 Td (the ) Tj ET Q q 0 0 0 rg BT 460.80 176.10 Td (risk-adjusted ) Tj ET Q q 0 0 0 rg BT 515.03 176.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 547.03 176.10 Td (rate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 164.10 Td (could ) Tj ET Q q 0 0 0 rg BT 74.72 164.10 Td (result ) Tj ET Q q 0 0 0 rg BT 99.43 164.10 Td (in ) Tj ET Q q 0 0 0 rg BT 109.71 164.10 Td (a ) Tj ET Q q 0 0 0 rg BT 116.65 164.10 Td (significantly ) Tj ET Q q 0 0 0 rg BT 169.14 164.10 Td (lower ) Tj ET Q q 0 0 0 rg BT 194.41 164.10 Td (or ) Tj ET Q q 0 0 0 rg BT 205.24 164.10 Td (higher ) Tj ET Q q 0 0 0 rg BT 233.29 164.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 249.66 164.10 Td (value ) Tj ET Q q 0 0 0 rg BT 273.82 164.10 Td (measurement. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 140.10 Td (The ) Tj ET Q q 0 0 0 rg BT 68.39 140.10 Td (respective ) Tj ET Q q 0 0 0 rg BT 111.77 140.10 Td (carrying ) Tj ET Q q 0 0 0 rg BT 147.93 140.10 Td (value ) Tj ET Q q 0 0 0 rg BT 172.44 140.10 Td (of ) Tj ET Q q 0 0 0 rg BT 183.61 140.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 213.66 140.10 Td (on-balance-sheet ) Tj ET Q q 0 0 0 rg BT 284.25 140.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 322.08 140.10 Td (instruments ) Tj ET Q q 0 0 0 rg BT 371.59 140.10 Td (approximated ) Tj ET Q q 0 0 0 rg BT 429.41 140.10 Td (their ) Tj ET Q q 0 0 0 rg BT 450.59 140.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 467.31 140.10 Td (values ) Tj ET Q q 0 0 0 rg BT 495.70 140.10 Td (due ) Tj ET Q q 0 0 0 rg BT 512.99 140.10 Td (to ) Tj ET Q q 0 0 0 rg BT 523.61 140.10 Td (the ) Tj ET Q q 0 0 0 rg BT 538.68 140.10 Td (short-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 128.10 Td (term ) Tj ET Q q 0 0 0 rg BT 71.28 128.10 Td (nature ) Tj ET Q q 0 0 0 rg BT 99.22 128.10 Td (of ) Tj ET Q q 0 0 0 rg BT 110.51 128.10 Td (these ) Tj ET Q q 0 0 0 rg BT 134.01 128.10 Td (instruments. ) Tj ET Q q 0 0 0 rg BT 185.92 128.10 Td (These ) Tj ET Q q 0 0 0 rg BT 212.75 128.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 250.69 128.10 Td (instruments ) Tj ET Q q 0 0 0 rg BT 300.31 128.10 Td (include ) Tj ET Q q 0 0 0 rg BT 332.70 128.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 353.43 128.10 Td (and ) Tj ET Q q 0 0 0 rg BT 370.82 128.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 391.55 128.10 Td (equivalents, ) Tj ET Q q 0 0 0 rg BT 442.55 128.10 Td (accounts ) Tj ET Q q 0 0 0 rg BT 480.49 128.10 Td (receivable, ) Tj ET Q q 0 0 0 rg BT 527.02 128.10 Td (accounts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 116.10 Td (payable, ) Tj ET Q q 0 0 0 rg BT 87.32 116.10 Td (unearned ) Tj ET Q q 0 0 0 rg BT 127.70 116.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 163.08 116.10 Td (and ) Tj ET Q q 0 0 0 rg BT 181.25 116.10 Td (accrued ) Tj ET Q q 0 0 0 rg BT 216.06 116.10 Td (expenses. ) Tj ET Q q 0 0 0 rg BT 258.39 116.10 Td (Unless ) Tj ET Q q 0 0 0 rg BT 289.34 116.10 Td (otherwise ) Tj ET Q q 0 0 0 rg BT 331.95 116.10 Td (disclosed, ) Tj ET Q q 0 0 0 rg BT 375.40 116.10 Td (the ) Tj ET Q q 0 0 0 rg BT 391.34 116.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 408.95 116.10 Td (value ) Tj ET Q q 0 0 0 rg BT 434.34 116.10 Td (of ) Tj ET Q q 0 0 0 rg BT 446.40 116.10 Td (the ) Tj ET Q q 0 0 0 rg BT 462.34 116.10 Td (Company) Tj ET Q q 0 0 0 rg BT 504.01 116.10 Td (s ) Tj ET Q q 0 0 0 rg BT 511.63 116.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 542.01 116.10 Td (lease ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 104.10 Td (obligations ) Tj ET Q q 0 0 0 rg BT 96.94 104.10 Td (approximate ) Tj ET Q q 0 0 0 rg BT 149.42 104.10 Td (their ) Tj ET Q q 0 0 0 rg BT 170.25 104.10 Td (carrying ) Tj ET Q q 0 0 0 rg BT 206.06 104.10 Td (value ) Tj ET Q q 0 0 0 rg BT 230.22 104.10 Td (based ) Tj ET Q q 0 0 0 rg BT 255.49 104.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 277.99 104.10 Td (current ) Tj ET Q q 0 0 0 rg BT 308.80 104.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 330.18 104.10 Td (available ) Tj ET Q q 0 0 0 rg BT 368.77 104.10 Td (to ) Tj ET Q q 0 0 0 rg BT 379.05 104.10 Td (the ) Tj ET Q q 0 0 0 rg BT 393.76 104.10 Td (Company) Tj ET Q q 0 0 0 rg BT 432.00 104.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 50 78.53505859375002 m 166.9580078125 78.53505859375002 l s q 0 0 0 rg BT 50.00 80.10 Td (Stock-Based ) Tj ET Q q 0 0 0 rg BT 105.28 80.10 Td (Compensation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 68.10 Td (Stock-based ) Tj ET Q q 0 0 0 rg BT 101.79 68.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 160.24 68.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 179.26 68.10 Td (related ) Tj ET Q q 0 0 0 rg BT 209.37 68.10 Td (to ) Tj ET Q q 0 0 0 rg BT 220.06 68.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 244.08 68.10 Td (options ) Tj ET Q q 0 0 0 rg BT 276.44 68.10 Td (granted ) Tj ET Q q 0 0 0 rg BT 309.33 68.10 Td (under ) Tj ET Q q 0 0 0 rg BT 335.01 68.10 Td (the ) Tj ET Q q 0 0 0 rg BT 350.14 68.10 Td (May ) Tj ET Q q 0 0 0 rg BT 371.38 68.10 Td (201) Tj ET Q q 0 0 0 rg BT 386.01 68.10 Td (1 ) Tj ET Q q 0 0 0 rg BT 393.92 68.10 Td (Equity ) Tj ET Q q 0 0 0 rg BT 423.49 68.10 Td (Incentive ) Tj ET Q q 0 0 0 rg BT 463.60 68.10 Td (Plan ) Tj ET Q q 0 0 0 rg BT 484.29 68.10 Td (and ) Tj ET Q q 0 0 0 rg BT 501.00 68.10 Td (August ) Tj ET Q q 0 0 0 rg BT 532.80 68.10 Td (201) Tj ET Q q 0 0 0 rg BT 547.43 68.10 Td (1 ) Tj ET Q q 0 0 0 rg BT 555.34 68.10 Td (B ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 56.10 Td (Equity ) Tj ET Q q 0 0 0 rg BT 79.35 56.10 Td (Incentive ) Tj ET Q q 0 0 0 rg BT 119.24 56.10 Td (Plan ) Tj ET Q q 0 0 0 rg BT 139.71 56.10 Td (\(together) Tj ET Q q 0 0 0 rg BT 175.40 56.10 Td (, ) Tj ET Q q 0 0 0 rg BT 180.59 56.10 Td (the ) Tj ET Q q 0 0 0 rg BT 195.50 56.10 Td ("201) Tj ET Q q 0 0 0 rg BT 214.21 56.10 Td (1 ) Tj ET Q q 0 0 0 rg BT 221.89 56.10 Td (Equity ) Tj ET Q q 0 0 0 rg BT 251.25 56.10 Td (Incentive ) Tj ET Q q 0 0 0 rg BT 291.14 56.10 Td (Plans"\) ) Tj ET Q q 0 0 0 rg BT 322.91 56.10 Td (\(see ) Tj ET Q q 0 0 0 rg BT 341.69 56.10 Td (Note ) Tj ET Q q 0 0 0 rg BT 363.82 56.10 Td (6\) ) Tj ET Q q 0 0 0 rg BT 374.84 56.10 Td (is ) Tj ET Q q 0 0 0 rg BT 384.20 56.10 Td (measured ) Tj ET Q q 0 0 0 rg BT 425.20 56.10 Td (at ) Tj ET Q q 0 0 0 rg BT 435.10 56.10 Td (the ) Tj ET Q q 0 0 0 rg BT 450.01 56.10 Td (grant ) Tj ET Q q 0 0 0 rg BT 473.24 56.10 Td (date, ) Tj ET Q q 0 0 0 rg BT 495.09 56.10 Td (based ) Tj ET Q q 0 0 0 rg BT 520.54 56.10 Td (on ) Tj ET Q q 0 0 0 rg BT 533.23 56.10 Td (the ) Tj ET Q q 0 0 0 rg BT 548.14 56.10 Td (fair ) Tj ET Q endstream endobj 23 0 obj <> endobj 24 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 283.05 772.75 Td (IZEA, Inc.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 181.55 760.75 Td (Notes to the Unaudited Consolidated Financial Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 731.10 Td (value ) Tj ET Q q 0 0 0 rg BT 74.55 731.10 Td (of ) Tj ET Q q 0 0 0 rg BT 85.78 731.10 Td (the ) Tj ET Q q 0 0 0 rg BT 100.90 731.10 Td (award, ) Tj ET Q q 0 0 0 rg BT 130.72 731.10 Td (and ) Tj ET Q q 0 0 0 rg BT 148.06 731.10 Td (is ) Tj ET Q q 0 0 0 rg BT 157.63 731.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 204.39 731.10 Td (as ) Tj ET Q q 0 0 0 rg BT 215.62 731.10 Td (an ) Tj ET Q q 0 0 0 rg BT 227.95 731.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 263.06 731.10 Td (over ) Tj ET Q q 0 0 0 rg BT 283.72 731.10 Td (the ) Tj ET Q q 0 0 0 rg BT 298.84 731.10 Td (employee) Tj ET Q q 0 0 0 rg BT 340.49 731.10 Td (s ) Tj ET Q q 0 0 0 rg BT 347.28 731.10 Td (requisite ) Tj ET Q q 0 0 0 rg BT 384.61 731.10 Td (service ) Tj ET Q q 0 0 0 rg BT 415.82 731.10 Td (period. ) Tj ET Q q 0 0 0 rg BT 446.77 731.10 Td ( ) Tj ET Q q 0 0 0 rg BT 449.46 731.10 Td (The ) Tj ET Q q 0 0 0 rg BT 467.90 731.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 509.69 731.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 549.80 731.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 719.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 66.37 719.10 Td (value ) Tj ET Q q 0 0 0 rg BT 90.53 719.10 Td (of ) Tj ET Q q 0 0 0 rg BT 101.35 719.10 Td (each ) Tj ET Q q 0 0 0 rg BT 122.16 719.10 Td (option ) Tj ET Q q 0 0 0 rg BT 150.22 719.10 Td (award ) Tj ET Q q 0 0 0 rg BT 177.14 719.10 Td (on ) Tj ET Q q 0 0 0 rg BT 189.64 719.10 Td (the ) Tj ET Q q 0 0 0 rg BT 204.35 719.10 Td (date ) Tj ET Q q 0 0 0 rg BT 223.50 719.10 Td (of ) Tj ET Q q 0 0 0 rg BT 234.33 719.10 Td (grant ) Tj ET Q q 0 0 0 rg BT 257.37 719.10 Td (using ) Tj ET Q q 0 0 0 rg BT 281.54 719.10 Td (a ) Tj ET Q q 0 0 0 rg BT 288.48 719.10 Td (Black-Scholes ) Tj ET Q q 0 0 0 rg BT 348.74 719.10 Td (option-pricing ) Tj ET Q q 0 0 0 rg BT 408.44 719.10 Td (model ) Tj ET Q q 0 0 0 rg BT 435.94 719.10 Td (that ) Tj ET Q q 0 0 0 rg BT 453.43 719.10 Td (uses ) Tj ET Q q 0 0 0 rg BT 473.15 719.10 Td (the ) Tj ET Q q 0 0 0 rg BT 487.86 719.10 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 539.80 719.10 Td (noted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 707.10 Td (in ) Tj ET Q q 0 0 0 rg BT 60.19 707.10 Td (the ) Tj ET Q q 0 0 0 rg BT 74.82 707.10 Td (table ) Tj ET Q q 0 0 0 rg BT 96.66 707.10 Td (below) Tj ET Q q 0 0 0 rg BT 120.45 707.10 Td (. ) Tj ET Q q 0 0 0 rg BT 125.36 707.10 Td ( ) Tj ET Q q 0 0 0 rg BT 127.60 707.10 Td (The ) Tj ET Q q 0 0 0 rg BT 145.56 707.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 186.85 707.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 226.48 707.10 Td (the ) Tj ET Q q 0 0 0 rg BT 241.11 707.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 257.39 707.10 Td (value ) Tj ET Q q 0 0 0 rg BT 281.46 707.10 Td (of ) Tj ET Q q 0 0 0 rg BT 292.20 707.10 Td (its ) Tj ET Q q 0 0 0 rg BT 304.06 707.10 Td (common ) Tj ET Q q 0 0 0 rg BT 341.47 707.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 364.99 707.10 Td (using ) Tj ET Q q 0 0 0 rg BT 389.07 707.10 Td (the ) Tj ET Q q 0 0 0 rg BT 403.70 707.10 Td (closing ) Tj ET Q q 0 0 0 rg BT 434.99 707.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 458.51 707.10 Td (price ) Tj ET Q q 0 0 0 rg BT 480.91 707.10 Td (of ) Tj ET Q q 0 0 0 rg BT 491.65 707.10 Td (its ) Tj ET Q q 0 0 0 rg BT 503.51 707.10 Td (common ) Tj ET Q q 0 0 0 rg BT 540.92 707.10 Td (stock ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 695.10 Td (as ) Tj ET Q q 0 0 0 rg BT 60.52 695.10 Td (quoted ) Tj ET Q q 0 0 0 rg BT 89.92 695.10 Td (in ) Tj ET Q q 0 0 0 rg BT 99.89 695.10 Td (the ) Tj ET Q q 0 0 0 rg BT 114.29 695.10 Td (OTCQB ) Tj ET Q q 0 0 0 rg BT 150.37 695.10 Td (marketplace ) Tj ET Q q 0 0 0 rg BT 201.42 695.10 Td (on ) Tj ET Q q 0 0 0 rg BT 213.60 695.10 Td (the ) Tj ET Q q 0 0 0 rg BT 228.01 695.10 Td (date ) Tj ET Q q 0 0 0 rg BT 246.85 695.10 Td (of ) Tj ET Q q 0 0 0 rg BT 257.37 695.10 Td (the ) Tj ET Q q 0 0 0 rg BT 271.77 695.10 Td (option ) Tj ET Q q 0 0 0 rg BT 299.52 695.10 Td (award. ) Tj ET Q q 0 0 0 rg BT 328.63 695.10 Td ( ) Tj ET Q q 0 0 0 rg BT 330.66 695.10 Td (The ) Tj ET Q q 0 0 0 rg BT 348.40 695.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 389.47 695.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 428.87 695.10 Td (the ) Tj ET Q q 0 0 0 rg BT 443.27 695.10 Td (volatility ) Tj ET Q q 0 0 0 rg BT 481.57 695.10 Td (of ) Tj ET Q q 0 0 0 rg BT 492.09 695.10 Td (its ) Tj ET Q q 0 0 0 rg BT 503.72 695.10 Td (common ) Tj ET Q q 0 0 0 rg BT 540.91 695.10 Td (stock ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 683.10 Td (at ) Tj ET Q q 0 0 0 rg BT 59.94 683.10 Td (the ) Tj ET Q q 0 0 0 rg BT 74.89 683.10 Td (date ) Tj ET Q q 0 0 0 rg BT 94.27 683.10 Td (of ) Tj ET Q q 0 0 0 rg BT 105.32 683.10 Td (grant ) Tj ET Q q 0 0 0 rg BT 128.60 683.10 Td (based ) Tj ET Q q 0 0 0 rg BT 154.09 683.10 Td (on ) Tj ET Q q 0 0 0 rg BT 166.82 683.10 Td (the ) Tj ET Q q 0 0 0 rg BT 181.76 683.10 Td (volatility ) Tj ET Q q 0 0 0 rg BT 220.59 683.10 Td (of ) Tj ET Q q 0 0 0 rg BT 231.65 683.10 Td (comparable ) Tj ET Q q 0 0 0 rg BT 281.02 683.10 Td (peer ) Tj ET Q q 0 0 0 rg BT 300.95 683.10 Td (companies ) Tj ET Q q 0 0 0 rg BT 346.44 683.10 Td (that ) Tj ET Q q 0 0 0 rg BT 364.16 683.10 Td (are ) Tj ET Q q 0 0 0 rg BT 379.09 683.10 Td (publicly ) Tj ET Q q 0 0 0 rg BT 414.59 683.10 Td (traded ) Tj ET Q q 0 0 0 rg BT 442.31 683.10 Td (and ) Tj ET Q q 0 0 0 rg BT 459.47 683.10 Td (have ) Tj ET Q q 0 0 0 rg BT 481.07 683.10 Td (had ) Tj ET Q q 0 0 0 rg BT 498.24 683.10 Td (a ) Tj ET Q q 0 0 0 rg BT 505.40 683.10 Td (longer ) Tj ET Q q 0 0 0 rg BT 533.67 683.10 Td (trading ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 671.10 Td (history ) Tj ET Q q 0 0 0 rg BT 82.17 671.10 Td (than ) Tj ET Q q 0 0 0 rg BT 103.77 671.10 Td (itself. ) Tj ET Q q 0 0 0 rg BT 130.34 671.10 Td (The ) Tj ET Q q 0 0 0 rg BT 150.28 671.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 193.56 671.10 Td (determines ) Tj ET Q q 0 0 0 rg BT 241.82 671.10 Td (the ) Tj ET Q q 0 0 0 rg BT 258.42 671.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 298.35 671.10 Td (life ) Tj ET Q q 0 0 0 rg BT 316.06 671.10 Td (based ) Tj ET Q q 0 0 0 rg BT 343.22 671.10 Td (on ) Tj ET Q q 0 0 0 rg BT 357.61 671.10 Td (historical ) Tj ET Q q 0 0 0 rg BT 399.21 671.10 Td (experience ) Tj ET Q q 0 0 0 rg BT 446.90 671.10 Td (with ) Tj ET Q q 0 0 0 rg BT 469.07 671.10 Td (similar ) Tj ET Q q 0 0 0 rg BT 501.23 671.10 Td (awards, ) Tj ET Q q 0 0 0 rg BT 536.44 671.10 Td (giving ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 659.10 Td (consideration ) Tj ET Q q 0 0 0 rg BT 105.86 659.10 Td (to ) Tj ET Q q 0 0 0 rg BT 115.62 659.10 Td (the ) Tj ET Q q 0 0 0 rg BT 129.82 659.10 Td (contractual ) Tj ET Q q 0 0 0 rg BT 176.23 659.10 Td (terms, ) Tj ET Q q 0 0 0 rg BT 202.93 659.10 Td (vesting ) Tj ET Q q 0 0 0 rg BT 233.80 659.10 Td (schedules ) Tj ET Q q 0 0 0 rg BT 274.66 659.10 Td (and ) Tj ET Q q 0 0 0 rg BT 291.08 659.10 Td (post-vesting ) Tj ET Q q 0 0 0 rg BT 341.96 659.10 Td (forfeitures. ) Tj ET Q q 0 0 0 rg BT 387.94 659.10 Td (The ) Tj ET Q q 0 0 0 rg BT 405.47 659.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 446.35 659.10 Td (uses ) Tj ET Q q 0 0 0 rg BT 465.55 659.10 Td (the ) Tj ET Q q 0 0 0 rg BT 479.75 659.10 Td (risk-free ) Tj ET Q q 0 0 0 rg BT 515.61 659.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 547.02 659.10 Td (rate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 647.10 Td (on ) Tj ET Q q 0 0 0 rg BT 62.96 647.10 Td (the ) Tj ET Q q 0 0 0 rg BT 78.13 647.10 Td (implied ) Tj ET Q q 0 0 0 rg BT 111.65 647.10 Td (yield ) Tj ET Q q 0 0 0 rg BT 134.60 647.10 Td (currently ) Tj ET Q q 0 0 0 rg BT 173.65 647.10 Td (available ) Tj ET Q q 0 0 0 rg BT 212.70 647.10 Td (on ) Tj ET Q q 0 0 0 rg BT 225.66 647.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 246.19 647.10 Td (T) Tj ET Q q 0 0 0 rg BT 251.94 647.10 Td (reasury ) Tj ET Q q 0 0 0 rg BT 284.33 647.10 Td (issues ) Tj ET Q q 0 0 0 rg BT 311.18 647.10 Td (with ) Tj ET Q q 0 0 0 rg BT 331.92 647.10 Td (an ) Tj ET Q q 0 0 0 rg BT 344.32 647.10 Td (equivalent ) Tj ET Q q 0 0 0 rg BT 388.93 647.10 Td (remaining ) Tj ET Q q 0 0 0 rg BT 432.43 647.10 Td (term ) Tj ET Q q 0 0 0 rg BT 453.71 647.10 Td (approximately ) Tj ET Q q 0 0 0 rg BT 514.43 647.10 Td (equal ) Tj ET Q q 0 0 0 rg BT 539.04 647.10 Td (to ) Tj ET Q q 0 0 0 rg BT 549.78 647.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 635.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 87.93 635.10 Td (life ) Tj ET Q q 0 0 0 rg BT 103.66 635.10 Td (of ) Tj ET Q q 0 0 0 rg BT 114.38 635.10 Td (the ) Tj ET Q q 0 0 0 rg BT 129.00 635.10 Td (award. ) Tj ET Q q 0 0 0 rg BT 158.15 635.10 Td (The ) Tj ET Q q 0 0 0 rg BT 176.10 635.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 217.39 635.10 Td (has ) Tj ET Q q 0 0 0 rg BT 233.11 635.10 Td (never ) Tj ET Q q 0 0 0 rg BT 257.72 635.10 Td (paid ) Tj ET Q q 0 0 0 rg BT 277.34 635.10 Td (any ) Tj ET Q q 0 0 0 rg BT 294.17 635.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 314.34 635.10 Td (dividends ) Tj ET Q q 0 0 0 rg BT 355.63 635.10 Td (on ) Tj ET Q q 0 0 0 rg BT 368.03 635.10 Td (its ) Tj ET Q q 0 0 0 rg BT 379.87 635.10 Td (common ) Tj ET Q q 0 0 0 rg BT 417.27 635.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 440.77 635.10 Td (and ) Tj ET Q q 0 0 0 rg BT 457.61 635.10 Td (does ) Tj ET Q q 0 0 0 rg BT 478.34 635.10 Td (not ) Tj ET Q q 0 0 0 rg BT 493.52 635.10 Td (anticipate ) Tj ET Q q 0 0 0 rg BT 534.78 635.10 Td (paying ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 623.10 Td (any ) Tj ET Q q 0 0 0 rg BT 67.08 623.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 87.49 623.10 Td (dividends ) Tj ET Q q 0 0 0 rg BT 129.02 623.10 Td (in ) Tj ET Q q 0 0 0 rg BT 139.44 623.10 Td (the ) Tj ET Q q 0 0 0 rg BT 154.30 623.10 Td (foreseeable ) Tj ET Q q 0 0 0 rg BT 202.46 623.10 Td (future. ) Tj ET Q q 0 0 0 rg BT 231.48 623.10 Td ( ) Tj ET Q q 0 0 0 rg BT 233.93 623.10 Td (The ) Tj ET Q q 0 0 0 rg BT 252.12 623.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 293.65 623.10 Td (used ) Tj ET Q q 0 0 0 rg BT 314.62 623.10 Td (the ) Tj ET Q q 0 0 0 rg BT 329.48 623.10 Td (following ) Tj ET Q q 0 0 0 rg BT 371.01 623.10 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 423.10 623.10 Td (for ) Tj ET Q q 0 0 0 rg BT 437.40 623.10 Td (options ) Tj ET Q q 0 0 0 rg BT 469.49 623.10 Td (granted ) Tj ET Q q 0 0 0 rg BT 502.11 623.10 Td (under ) Tj ET Q q 0 0 0 rg BT 527.52 623.10 Td (the ) Tj ET Q q 0 0 0 rg BT 542.38 623.10 Td (201) Tj ET Q q 0 0 0 rg BT 557.01 623.10 Td (1 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 611.10 Td (Equity ) Tj ET Q q 0 0 0 rg BT 79.17 611.10 Td (Incentive ) Tj ET Q q 0 0 0 rg BT 118.87 611.10 Td (Plans ) Tj ET Q q 0 0 0 rg BT 143.04 611.10 Td (during ) Tj ET Q q 0 0 0 rg BT 171.65 611.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.36 611.10 Td (three ) Tj ET Q q 0 0 0 rg BT 208.85 611.10 Td (and ) Tj ET Q q 0 0 0 rg BT 225.79 611.10 Td (nine ) Tj ET Q q 0 0 0 rg BT 245.50 611.10 Td (months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.95 611.10 Td ( ) Tj ET Q q 0 0 0 rg BT 277.45 611.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.83 611.10 Td (September30, ) Tj ET Q q 0 0 0 rg BT 364.09 611.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.09 611.10 Td ( ) Tj ET Q q 0 0 0 rg BT 386.59 611.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.53 611.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.53 611.10 Td (: ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 567.60 196.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.50 567.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 250.50 567.60 75.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 567.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.50 567.60 75.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 567.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 567.60 75.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 567.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 567.60 75.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 543.60 196.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.50 543.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 250.50 543.60 75.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 543.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.50 543.60 75.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 543.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 543.60 75.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 543.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 543.60 75.00 -12.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 250.5 588.6 m 325.5 588.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325.5 588.6 m 329.5 588.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 588.6 m 404.5 588.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 588.6 m 483.5 588.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 588.6 m 487.5 588.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 588.6 m 562.5 588.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 567.6 m 246.5 567.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 250.5 567.6 m 325.5 567.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 567.6 m 404.5 567.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 567.6 m 483.5 567.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 567.6 m 562.5 567.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.75 591.22 Td (Three Months Ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.70 591.22 Td (Nine Months Ended) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 53.00 572.28 Td (2011 Equity Incentive Plans Assumptions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.60 579.17 Td (September 30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.50 569.22 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.60 579.17 Td (September 30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.50 569.22 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.60 579.17 Td (September 30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.50 569.22 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.60 579.17 Td (September 30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.50 569.22 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 558.22 Td (Expected term) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.20 558.22 Td (6 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.20 558.22 Td (5 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.20 558.22 Td (6 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.20 558.22 Td (5 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 546.22 Td (Weighted average volatility) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.05 546.22 Td (53.81%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.05 546.22 Td (40.37%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.05 546.22 Td (56.62%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.05 546.22 Td (40.83%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 534.22 Td (Weighted average risk free interest rate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.55 534.22 Td (1.78%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.55 534.22 Td (1.75%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.55 534.22 Td (1.58%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.55 534.22 Td (1.71%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 522.22 Td (Expected dividends) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.50 522.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 522.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.50 522.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.50 522.22 Td () Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 496.10 Td (The ) Tj ET Q q 0 0 0 rg BT 68.04 496.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 109.43 496.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 149.14 496.10 Td (forfeitures ) Tj ET Q q 0 0 0 rg BT 193.28 496.10 Td (when ) Tj ET Q q 0 0 0 rg BT 217.43 496.10 Td (recognizing ) Tj ET Q q 0 0 0 rg BT 267.13 496.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 325.17 496.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 359.88 496.10 Td (and ) Tj ET Q q 0 0 0 rg BT 376.81 496.10 Td (this ) Tj ET Q q 0 0 0 rg BT 393.75 496.10 Td (estimate ) Tj ET Q q 0 0 0 rg BT 429.57 496.10 Td (of ) Tj ET Q q 0 0 0 rg BT 440.40 496.10 Td (forfeitures ) Tj ET Q q 0 0 0 rg BT 484.54 496.10 Td (is ) Tj ET Q q 0 0 0 rg BT 493.71 496.10 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 529.53 496.10 Td (over ) Tj ET Q q 0 0 0 rg BT 549.79 496.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 484.10 Td (requisite ) Tj ET Q q 0 0 0 rg BT 85.98 484.10 Td (service ) Tj ET Q q 0 0 0 rg BT 115.85 484.10 Td (period ) Tj ET Q q 0 0 0 rg BT 142.94 484.10 Td (based ) Tj ET Q q 0 0 0 rg BT 167.26 484.10 Td (on ) Tj ET Q q 0 0 0 rg BT 178.81 484.10 Td (the ) Tj ET Q q 0 0 0 rg BT 192.58 484.10 Td (extent ) Tj ET Q q 0 0 0 rg BT 218.56 484.10 Td (to ) Tj ET Q q 0 0 0 rg BT 227.89 484.10 Td (which ) Tj ET Q q 0 0 0 rg BT 253.88 484.10 Td (actual ) Tj ET Q q 0 0 0 rg BT 279.30 484.10 Td (forfeitures ) Tj ET Q q 0 0 0 rg BT 322.49 484.10 Td (dif) Tj ET Q q 0 0 0 rg BT 333.42 484.10 Td (fer) Tj ET Q q 0 0 0 rg BT 344.12 484.10 Td (, ) Tj ET Q q 0 0 0 rg BT 348.17 484.10 Td (or ) Tj ET Q q 0 0 0 rg BT 358.05 484.10 Td (are ) Tj ET Q q 0 0 0 rg BT 371.80 484.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 408.88 484.10 Td (to ) Tj ET Q q 0 0 0 rg BT 418.21 484.10 Td (dif) Tj ET Q q 0 0 0 rg BT 429.14 484.10 Td (fer) Tj ET Q q 0 0 0 rg BT 439.84 484.10 Td (, ) Tj ET Q q 0 0 0 rg BT 443.89 484.10 Td (from ) Tj ET Q q 0 0 0 rg BT 464.88 484.10 Td (such ) Tj ET Q q 0 0 0 rg BT 484.75 484.10 Td (estimates. ) Tj ET Q q 0 0 0 rg BT 526.02 484.10 Td ( ) Tj ET Q q 0 0 0 rg BT 527.56 484.10 Td (Changes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 472.10 Td (in ) Tj ET Q q 0 0 0 rg BT 60.59 472.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 101.72 472.10 Td (forfeitures ) Tj ET Q q 0 0 0 rg BT 146.17 472.10 Td (are ) Tj ET Q q 0 0 0 rg BT 161.19 472.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 207.86 472.10 Td (through ) Tj ET Q q 0 0 0 rg BT 241.78 472.10 Td (a ) Tj ET Q q 0 0 0 rg BT 249.02 472.10 Td (cumulative ) Tj ET Q q 0 0 0 rg BT 296.26 472.10 Td (catch-up ) Tj ET Q q 0 0 0 rg BT 333.49 472.10 Td (adjustment, ) Tj ET Q q 0 0 0 rg BT 382.69 472.10 Td (which ) Tj ET Q q 0 0 0 rg BT 409.93 472.10 Td (is ) Tj ET Q q 0 0 0 rg BT 419.41 472.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 466.08 472.10 Td (in ) Tj ET Q q 0 0 0 rg BT 476.67 472.10 Td (the ) Tj ET Q q 0 0 0 rg BT 491.70 472.10 Td (period ) Tj ET Q q 0 0 0 rg BT 520.05 472.10 Td (of ) Tj ET Q q 0 0 0 rg BT 531.19 472.10 Td (change, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 460.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.59 460.10 Td (a ) Tj ET Q q 0 0 0 rg BT 73.18 460.10 Td (revised ) Tj ET Q q 0 0 0 rg BT 104.21 460.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 136.35 460.10 Td (of ) Tj ET Q q 0 0 0 rg BT 146.83 460.10 Td (unamortized ) Tj ET Q q 0 0 0 rg BT 198.96 460.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 256.66 460.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 291.02 460.10 Td (to ) Tj ET Q q 0 0 0 rg BT 300.94 460.10 Td (be ) Tj ET Q q 0 0 0 rg BT 312.53 460.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 358.55 460.10 Td (in ) Tj ET Q q 0 0 0 rg BT 368.48 460.10 Td (future ) Tj ET Q q 0 0 0 rg BT 394.50 460.10 Td (periods. ) Tj ET Q q 0 0 0 rg BT 428.59 460.10 Td ( ) Tj ET Q q 0 0 0 rg BT 430.27 460.10 Td (A) Tj ET Q q 0 0 0 rg BT 436.75 460.10 Td (verage ) Tj ET Q q 0 0 0 rg BT 465.55 460.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 503.23 460.10 Td (forfeiture ) Tj ET Q q 0 0 0 rg BT 543.13 460.10 Td (rates ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 448.10 Td (were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.73 448.10 Td (15.37%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 102.56 448.10 Td ( ) Tj ET Q q 0 0 0 rg BT 104.86 448.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 121.59 448.10 Td (3.79%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.42 448.10 Td ( ) Tj ET Q q 0 0 0 rg BT 149.72 448.10 Td (during ) Tj ET Q q 0 0 0 rg BT 178.13 448.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 192.65 448.10 Td (three ) Tj ET Q q 0 0 0 rg BT 214.93 448.10 Td (months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.38 448.10 Td ( ) Tj ET Q q 0 0 0 rg BT 246.68 448.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.85 448.10 Td (September30, ) Tj ET Q q 0 0 0 rg BT 332.92 448.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.92 448.10 Td ( ) Tj ET Q q 0 0 0 rg BT 355.21 448.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.95 448.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.95 448.10 Td (, ) Tj ET Q q 0 0 0 rg BT 396.75 448.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 444.41 448.10 Td (. ) Tj ET Q q 0 0 0 rg BT 449.21 448.10 Td ( ) Tj ET Q q 0 0 0 rg BT 451.00 448.10 Td (A) Tj ET Q q 0 0 0 rg BT 457.48 448.10 Td (verage ) Tj ET Q q 0 0 0 rg BT 486.43 448.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 524.26 448.10 Td (forfeiture ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 436.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 71.38 436.10 Td (were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.31 436.10 Td (12.37%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 124.14 436.10 Td ( ) Tj ET Q q 0 0 0 rg BT 126.64 436.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.57 436.10 Td (7.29%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.40 436.10 Td ( ) Tj ET Q q 0 0 0 rg BT 171.90 436.10 Td (during ) Tj ET Q q 0 0 0 rg BT 200.51 436.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.23 436.10 Td (nine ) Tj ET Q q 0 0 0 rg BT 234.95 436.10 Td (months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.39 436.10 Td ( ) Tj ET Q q 0 0 0 rg BT 266.89 436.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.27 436.10 Td (September30, ) Tj ET Q q 0 0 0 rg BT 353.54 436.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.54 436.10 Td ( ) Tj ET Q q 0 0 0 rg BT 376.04 436.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.97 436.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.97 436.10 Td (, ) Tj ET Q q 0 0 0 rg BT 417.97 436.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 465.63 436.10 Td (. ) Tj ET Q q 0 0 0 rg BT 470.63 436.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 50 410.53505859375 m 232.7880859375 410.53505859375 l s q 0 0 0 rg BT 50.00 412.10 Td (Non-Employee ) Tj ET Q q 0 0 0 rg BT 115.83 412.10 Td (Stock-Based ) Tj ET Q q 0 0 0 rg BT 171.11 412.10 Td (Compensation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 400.10 Td (The ) Tj ET Q q 0 0 0 rg BT 68.38 400.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 115.78 400.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 162.48 400.10 Td (policy ) Tj ET Q q 0 0 0 rg BT 190.31 400.10 Td (for ) Tj ET Q q 0 0 0 rg BT 204.80 400.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 232.62 400.10 Td (instruments ) Tj ET Q q 0 0 0 rg BT 282.11 400.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 309.94 400.10 Td (to ) Tj ET Q q 0 0 0 rg BT 320.55 400.10 Td (consultants ) Tj ET Q q 0 0 0 rg BT 368.37 400.10 Td (and ) Tj ET Q q 0 0 0 rg BT 385.64 400.10 Td (vendors ) Tj ET Q q 0 0 0 rg BT 420.13 400.10 Td (in ) Tj ET Q q 0 0 0 rg BT 430.74 400.10 Td (exchange ) Tj ET Q q 0 0 0 rg BT 471.32 400.10 Td (for ) Tj ET Q q 0 0 0 rg BT 485.81 400.10 Td (goods ) Tj ET Q q 0 0 0 rg BT 512.53 400.10 Td (and ) Tj ET Q q 0 0 0 rg BT 529.80 400.10 Td (services ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 388.10 Td (follows ) Tj ET Q q 0 0 0 rg BT 82.13 388.10 Td (the ) Tj ET Q q 0 0 0 rg BT 96.48 388.10 Td (provisions ) Tj ET Q q 0 0 0 rg BT 140.29 388.10 Td (of ) Tj ET Q q 0 0 0 rg BT 150.28 388.10 Td (ASC ) Tj ET Q q 0 0 0 rg BT 171.86 388.10 Td (505, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 191.50 388.10 Td (Equity-Based ) Tj ET Q q 0 0 0 rg BT 253.06 388.10 Td (Payments ) Tj ET Q q 0 0 0 rg BT 294.07 388.10 Td (to ) Tj ET Q q 0 0 0 rg BT 303.98 388.10 Td (Non-Employees.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.36 388.10 Td ( ) Tj ET Q q 0 0 0 rg BT 377.49 388.10 Td ( ) Tj ET Q q 0 0 0 rg BT 379.47 388.10 Td (The ) Tj ET Q q 0 0 0 rg BT 397.15 388.10 Td (measurement ) Tj ET Q q 0 0 0 rg BT 452.59 388.10 Td (date ) Tj ET Q q 0 0 0 rg BT 471.38 388.10 Td (for ) Tj ET Q q 0 0 0 rg BT 485.18 388.10 Td (the ) Tj ET Q q 0 0 0 rg BT 499.53 388.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 515.54 388.10 Td (value ) Tj ET Q q 0 0 0 rg BT 539.32 388.10 Td (of ) Tj ET Q q 0 0 0 rg BT 549.79 388.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 376.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 77.45 376.10 Td (instruments ) Tj ET Q q 0 0 0 rg BT 126.58 376.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 154.04 376.10 Td (is ) Tj ET Q q 0 0 0 rg BT 163.16 376.10 Td (determined ) Tj ET Q q 0 0 0 rg BT 210.60 376.10 Td (at ) Tj ET Q q 0 0 0 rg BT 220.28 376.10 Td (the ) Tj ET Q q 0 0 0 rg BT 234.95 376.10 Td (earlier ) Tj ET Q q 0 0 0 rg BT 262.94 376.10 Td (of ) Tj ET Q q 0 0 0 rg BT 273.73 376.10 Td (\(i\) ) Tj ET Q q 0 0 0 rg BT 285.63 376.10 Td (the ) Tj ET Q q 0 0 0 rg BT 300.31 376.10 Td (date ) Tj ET Q q 0 0 0 rg BT 319.42 376.10 Td (at ) Tj ET Q q 0 0 0 rg BT 329.09 376.10 Td (which ) Tj ET Q q 0 0 0 rg BT 355.99 376.10 Td (a ) Tj ET Q q 0 0 0 rg BT 362.89 376.10 Td (commitment ) Tj ET Q q 0 0 0 rg BT 415.89 376.10 Td (for ) Tj ET Q q 0 0 0 rg BT 430.01 376.10 Td (performance ) Tj ET Q q 0 0 0 rg BT 482.99 376.10 Td (by ) Tj ET Q q 0 0 0 rg BT 495.45 376.10 Td (the ) Tj ET Q q 0 0 0 rg BT 510.13 376.10 Td (consultant ) Tj ET Q q 0 0 0 rg BT 553.69 376.10 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 364.10 Td (vendor ) Tj ET Q q 0 0 0 rg BT 79.82 364.10 Td (is ) Tj ET Q q 0 0 0 rg BT 88.54 364.10 Td (reached ) Tj ET Q q 0 0 0 rg BT 121.67 364.10 Td (or ) Tj ET Q q 0 0 0 rg BT 132.05 364.10 Td (\(ii\) ) Tj ET Q q 0 0 0 rg BT 146.32 364.10 Td (the ) Tj ET Q q 0 0 0 rg BT 160.58 364.10 Td (date ) Tj ET Q q 0 0 0 rg BT 179.29 364.10 Td (at ) Tj ET Q q 0 0 0 rg BT 188.56 364.10 Td (which ) Tj ET Q q 0 0 0 rg BT 215.04 364.10 Td (the ) Tj ET Q q 0 0 0 rg BT 229.31 364.10 Td (consultant ) Tj ET Q q 0 0 0 rg BT 272.46 364.10 Td (or ) Tj ET Q q 0 0 0 rg BT 282.84 364.10 Td (vendor's ) Tj ET Q q 0 0 0 rg BT 318.36 364.10 Td (performance ) Tj ET Q q 0 0 0 rg BT 370.93 364.10 Td (is ) Tj ET Q q 0 0 0 rg BT 379.65 364.10 Td (complete. ) Tj ET Q q 0 0 0 rg BT 420.70 364.10 Td (The ) Tj ET Q q 0 0 0 rg BT 438.30 364.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 454.22 364.10 Td (value ) Tj ET Q q 0 0 0 rg BT 477.93 364.10 Td (of ) Tj ET Q q 0 0 0 rg BT 488.31 364.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 515.35 364.10 Td (instruments ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 352.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 77.86 352.10 Td (to ) Tj ET Q q 0 0 0 rg BT 88.50 352.10 Td (consultants ) Tj ET Q q 0 0 0 rg BT 136.35 352.10 Td (that ) Tj ET Q q 0 0 0 rg BT 154.20 352.10 Td (vest ) Tj ET Q q 0 0 0 rg BT 173.17 352.10 Td (immediately ) Tj ET Q q 0 0 0 rg BT 226.02 352.10 Td (is ) Tj ET Q q 0 0 0 rg BT 235.54 352.10 Td (expensed ) Tj ET Q q 0 0 0 rg BT 275.61 352.10 Td (when ) Tj ET Q q 0 0 0 rg BT 300.13 352.10 Td (issued. ) Tj ET Q q 0 0 0 rg BT 330.28 352.10 Td (The ) Tj ET Q q 0 0 0 rg BT 348.69 352.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 365.42 352.10 Td (value ) Tj ET Q q 0 0 0 rg BT 389.94 352.10 Td (of ) Tj ET Q q 0 0 0 rg BT 401.13 352.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 428.98 352.10 Td (instruments ) Tj ET Q q 0 0 0 rg BT 478.50 352.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 506.36 352.10 Td (to ) Tj ET Q q 0 0 0 rg BT 517.00 352.10 Td (consultants ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 340.10 Td (that ) Tj ET Q q 0 0 0 rg BT 66.75 340.10 Td (have ) Tj ET Q q 0 0 0 rg BT 87.39 340.10 Td (future ) Tj ET Q q 0 0 0 rg BT 113.03 340.10 Td (vesting ) Tj ET Q q 0 0 0 rg BT 143.67 340.10 Td (and ) Tj ET Q q 0 0 0 rg BT 159.87 340.10 Td (are ) Tj ET Q q 0 0 0 rg BT 173.84 340.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 203.92 340.10 Td (to ) Tj ET Q q 0 0 0 rg BT 213.46 340.10 Td (forfeiture ) Tj ET Q q 0 0 0 rg BT 252.97 340.10 Td (if ) Tj ET Q q 0 0 0 rg BT 260.84 340.10 Td (performance ) Tj ET Q q 0 0 0 rg BT 313.12 340.10 Td (does ) Tj ET Q q 0 0 0 rg BT 333.21 340.10 Td (not ) Tj ET Q q 0 0 0 rg BT 347.75 340.10 Td (occur ) Tj ET Q q 0 0 0 rg BT 371.71 340.10 Td (is ) Tj ET Q q 0 0 0 rg BT 380.14 340.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 425.77 340.10 Td (as ) Tj ET Q q 0 0 0 rg BT 435.85 340.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 469.82 340.10 Td (over ) Tj ET Q q 0 0 0 rg BT 489.35 340.10 Td (the ) Tj ET Q q 0 0 0 rg BT 503.33 340.10 Td (vesting ) Tj ET Q q 0 0 0 rg BT 533.97 340.10 Td (period. ) Tj ET Q q 0 0 0 rg BT 564.52 340.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 328.10 Td (Fair ) Tj ET Q q 0 0 0 rg BT 68.24 328.10 Td (values ) Tj ET Q q 0 0 0 rg BT 95.93 328.10 Td (for ) Tj ET Q q 0 0 0 rg BT 109.72 328.10 Td (the ) Tj ET Q q 0 0 0 rg BT 124.07 328.10 Td (unvested ) Tj ET Q q 0 0 0 rg BT 161.76 328.10 Td (portion ) Tj ET Q q 0 0 0 rg BT 192.78 328.10 Td (of ) Tj ET Q q 0 0 0 rg BT 203.24 328.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 230.38 328.10 Td (instruments ) Tj ET Q q 0 0 0 rg BT 279.18 328.10 Td (are ) Tj ET Q q 0 0 0 rg BT 293.52 328.10 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 328.98 328.10 Td (each ) Tj ET Q q 0 0 0 rg BT 349.43 328.10 Td (reporting ) Tj ET Q q 0 0 0 rg BT 388.22 328.10 Td (period. ) Tj ET Q q 0 0 0 rg BT 418.40 328.10 Td ( ) Tj ET Q q 0 0 0 rg BT 420.39 328.10 Td (The ) Tj ET Q q 0 0 0 rg BT 438.07 328.10 Td (change ) Tj ET Q q 0 0 0 rg BT 468.52 328.10 Td (in ) Tj ET Q q 0 0 0 rg BT 478.43 328.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 494.44 328.10 Td (value ) Tj ET Q q 0 0 0 rg BT 518.23 328.10 Td (is ) Tj ET Q q 0 0 0 rg BT 527.04 328.10 Td (recorded ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 316.10 Td (to ) Tj ET Q q 0 0 0 rg BT 60.22 316.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 102.65 316.10 Td (paid-in ) Tj ET Q q 0 0 0 rg BT 133.41 316.10 Td (capital. ) Tj ET Q q 0 0 0 rg BT 165.00 316.10 Td ( ) Tj ET Q q 0 0 0 rg BT 167.44 316.10 Td (Stock-based ) Tj ET Q q 0 0 0 rg BT 218.75 316.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 276.74 316.10 Td (related ) Tj ET Q q 0 0 0 rg BT 306.38 316.10 Td (to ) Tj ET Q q 0 0 0 rg BT 316.59 316.10 Td (non-employees ) Tj ET Q q 0 0 0 rg BT 380.13 316.10 Td (is ) Tj ET Q q 0 0 0 rg BT 389.24 316.10 Td (accounted ) Tj ET Q q 0 0 0 rg BT 432.21 316.10 Td (for ) Tj ET Q q 0 0 0 rg BT 446.31 316.10 Td (based ) Tj ET Q q 0 0 0 rg BT 471.51 316.10 Td (on ) Tj ET Q q 0 0 0 rg BT 483.95 316.10 Td (the ) Tj ET Q q 0 0 0 rg BT 498.61 316.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 514.92 316.10 Td (value ) Tj ET Q q 0 0 0 rg BT 539.02 316.10 Td (of ) Tj ET Q q 0 0 0 rg BT 549.79 316.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 304.10 Td (related ) Tj ET Q q 0 0 0 rg BT 79.70 304.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 103.31 304.10 Td (or ) Tj ET Q q 0 0 0 rg BT 114.14 304.10 Td (the ) Tj ET Q q 0 0 0 rg BT 128.86 304.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 145.23 304.10 Td (value ) Tj ET Q q 0 0 0 rg BT 169.39 304.10 Td (of ) Tj ET Q q 0 0 0 rg BT 180.22 304.10 Td (the ) Tj ET Q q 0 0 0 rg BT 194.94 304.10 Td (services, ) Tj ET Q q 0 0 0 rg BT 232.14 304.10 Td (whichever ) Tj ET Q q 0 0 0 rg BT 276.29 304.10 Td (is ) Tj ET Q q 0 0 0 rg BT 285.46 304.10 Td (more ) Tj ET Q q 0 0 0 rg BT 308.51 304.10 Td (readily ) Tj ET Q q 0 0 0 rg BT 338.77 304.10 Td (determinable.) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 50 278.53505859375 m 141.3818359375 278.53505859375 l s q 0 0 0 rg BT 50.00 280.10 Td (Segment Information) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 268.10 Td (The Company does not identify separate operating segments for management reporting purposes. ) Tj ET Q q 0 0 0 rg BT 444.16 268.10 Td (The results of consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 256.10 Td (operations are the basis on which management evaluates operations and makes business decisions. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 50 230.53505859375002 m 120.5419921875 230.53505859375002 l s q 0 0 0 rg BT 50.00 232.10 Td (Use ) Tj ET Q q 0 0 0 rg BT 68.05 232.10 Td (of ) Tj ET Q q 0 0 0 rg BT 78.88 232.10 Td (Estimates) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 220.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.10 220.10 Td (preparation ) Tj ET Q q 0 0 0 rg BT 114.19 220.10 Td (of ) Tj ET Q q 0 0 0 rg BT 124.07 220.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 160.61 220.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 204.37 220.10 Td (in ) Tj ET Q q 0 0 0 rg BT 213.71 220.10 Td (conformity ) Tj ET Q q 0 0 0 rg BT 259.69 220.10 Td (with ) Tj ET Q q 0 0 0 rg BT 279.03 220.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 324.45 220.10 Td (principles ) Tj ET Q q 0 0 0 rg BT 365.44 220.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 404.20 220.10 Td (accepted ) Tj ET Q q 0 0 0 rg BT 440.72 220.10 Td (in ) Tj ET Q q 0 0 0 rg BT 450.05 220.10 Td (the ) Tj ET Q q 0 0 0 rg BT 463.82 220.10 Td (United ) Tj ET Q q 0 0 0 rg BT 492.60 220.10 Td (States ) Tj ET Q q 0 0 0 rg BT 518.04 220.10 Td (of ) Tj ET Q q 0 0 0 rg BT 527.58 220.10 Td (America ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 208.10 Td (requires ) Tj ET Q q 0 0 0 rg BT 84.73 208.10 Td (management ) Tj ET Q q 0 0 0 rg BT 138.34 208.10 Td (to ) Tj ET Q q 0 0 0 rg BT 148.64 208.10 Td (make ) Tj ET Q q 0 0 0 rg BT 172.82 208.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 212.56 208.10 Td (and ) Tj ET Q q 0 0 0 rg BT 229.52 208.10 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 281.49 208.10 Td (that ) Tj ET Q q 0 0 0 rg BT 299.01 208.10 Td (af) Tj ET Q q 0 0 0 rg BT 306.60 208.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 324.11 208.10 Td (the ) Tj ET Q q 0 0 0 rg BT 338.85 208.10 Td (reported ) Tj ET Q q 0 0 0 rg BT 374.69 208.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 411.10 208.10 Td (of ) Tj ET Q q 0 0 0 rg BT 421.95 208.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 447.80 208.10 Td (and ) Tj ET Q q 0 0 0 rg BT 464.77 208.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 504.51 208.10 Td (and ) Tj ET Q q 0 0 0 rg BT 521.47 208.10 Td (disclosure ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 196.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.24 196.10 Td (contingent ) Tj ET Q q 0 0 0 rg BT 104.37 196.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 129.61 196.10 Td (and ) Tj ET Q q 0 0 0 rg BT 145.97 196.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 185.10 196.10 Td (at ) Tj ET Q q 0 0 0 rg BT 194.23 196.10 Td (the ) Tj ET Q q 0 0 0 rg BT 208.36 196.10 Td (date ) Tj ET Q q 0 0 0 rg BT 226.93 196.10 Td (of ) Tj ET Q q 0 0 0 rg BT 237.17 196.10 Td (the ) Tj ET Q q 0 0 0 rg BT 251.30 196.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 288.20 196.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 332.32 196.10 Td (and ) Tj ET Q q 0 0 0 rg BT 348.68 196.10 Td (the ) Tj ET Q q 0 0 0 rg BT 362.81 196.10 Td (reported ) Tj ET Q q 0 0 0 rg BT 398.04 196.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 433.84 196.10 Td (of ) Tj ET Q q 0 0 0 rg BT 444.08 196.10 Td (revenues ) Tj ET Q q 0 0 0 rg BT 481.53 196.10 Td (and ) Tj ET Q q 0 0 0 rg BT 497.89 196.10 Td (expenses ) Tj ET Q q 0 0 0 rg BT 535.90 196.10 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 184.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.72 184.10 Td (reporting ) Tj ET Q q 0 0 0 rg BT 103.87 184.10 Td (period. ) Tj ET Q q 0 0 0 rg BT 133.87 184.10 Td (Actual ) Tj ET Q q 0 0 0 rg BT 163.02 184.10 Td (results ) Tj ET Q q 0 0 0 rg BT 191.63 184.10 Td (could ) Tj ET Q q 0 0 0 rg BT 216.35 184.10 Td (dif) Tj ET Q q 0 0 0 rg BT 227.28 184.10 Td (fer ) Tj ET Q q 0 0 0 rg BT 240.87 184.10 Td (from ) Tj ET Q q 0 0 0 rg BT 262.81 184.10 Td (those ) Tj ET Q q 0 0 0 rg BT 286.42 184.10 Td (estimates.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 172.10 Td () Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 50 158.53505859375002 m 120.546875 158.53505859375002 l s q 0 0 0 rg BT 50.00 160.10 Td (Reclassifications) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 148.10 Td (Certain ) Tj ET Q q 0 0 0 rg BT 82.59 148.10 Td (items ) Tj ET Q q 0 0 0 rg BT 107.40 148.10 Td (have ) Tj ET Q q 0 0 0 rg BT 129.43 148.10 Td (been ) Tj ET Q q 0 0 0 rg BT 151.46 148.10 Td (reclassified ) Tj ET Q q 0 0 0 rg BT 200.14 148.10 Td (in ) Tj ET Q q 0 0 0 rg BT 211.07 148.10 Td (the ) Tj ET Q q 0 0 0 rg BT 226.44 148.10 Td (2014 ) Tj ET Q q 0 0 0 rg BT 249.59 148.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 287.73 148.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 333.09 148.10 Td (to ) Tj ET Q q 0 0 0 rg BT 344.02 148.10 Td (conform ) Tj ET Q q 0 0 0 rg BT 381.05 148.10 Td (to ) Tj ET Q q 0 0 0 rg BT 391.98 148.10 Td (the ) Tj ET Q q 0 0 0 rg BT 407.35 148.10 Td (2015 ) Tj ET Q q 0 0 0 rg BT 430.50 148.10 Td (presentation. ) Tj ET Q q 0 0 0 rg BT 485.02 148.10 Td ( ) Tj ET Q q 0 0 0 rg BT 487.95 148.10 Td (The ) Tj ET Q q 0 0 0 rg BT 506.65 148.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 548.69 148.10 Td (has ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 136.10 Td (reclassified ) Tj ET Q q 0 0 0 rg BT 97.97 136.10 Td (wages ) Tj ET Q q 0 0 0 rg BT 125.40 136.10 Td (and ) Tj ET Q q 0 0 0 rg BT 142.27 136.10 Td (other ) Tj ET Q q 0 0 0 rg BT 165.25 136.10 Td (expenses ) Tj ET Q q 0 0 0 rg BT 203.79 136.10 Td (related ) Tj ET Q q 0 0 0 rg BT 233.43 136.10 Td (to ) Tj ET Q q 0 0 0 rg BT 243.64 136.10 Td (its ) Tj ET Q q 0 0 0 rg BT 255.53 136.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 277.40 136.10 Td (and ) Tj ET Q q 0 0 0 rg BT 294.28 136.10 Td (marketing ) Tj ET Q q 0 0 0 rg BT 337.26 136.10 Td (personnel ) Tj ET Q q 0 0 0 rg BT 378.57 136.10 Td (out ) Tj ET Q q 0 0 0 rg BT 393.78 136.10 Td (of ) Tj ET Q q 0 0 0 rg BT 404.55 136.10 Td (general ) Tj ET Q q 0 0 0 rg BT 436.41 136.10 Td (and ) Tj ET Q q 0 0 0 rg BT 453.29 136.10 Td (administrative ) Tj ET Q q 0 0 0 rg BT 512.93 136.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 547.57 136.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 124.10 Td (into ) Tj ET Q q 0 0 0 rg BT 68.06 124.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 90.00 124.10 Td (and ) Tj ET Q q 0 0 0 rg BT 106.93 124.10 Td (marketing ) Tj ET Q q 0 0 0 rg BT 149.98 124.10 Td (expense.) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 50 98.53505859375002 m 204.248046875 98.53505859375002 l s q 0 0 0 rg BT 50.00 100.10 Td (Recent ) Tj ET Q q 0 0 0 rg BT 81.38 100.10 Td (Accounting Pr) Tj ET Q q 0 0 0 rg BT 143.13 100.10 Td (onouncements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 88.10 Td (There ) Tj ET Q q 0 0 0 rg BT 76.75 88.10 Td (are ) Tj ET Q q 0 0 0 rg BT 92.39 88.10 Td (new ) Tj ET Q q 0 0 0 rg BT 112.48 88.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 159.79 88.10 Td (pronouncements ) Tj ET Q q 0 0 0 rg BT 229.31 88.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 257.74 88.10 Td (by ) Tj ET Q q 0 0 0 rg BT 271.18 88.10 Td (the ) Tj ET Q q 0 0 0 rg BT 286.83 88.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 326.71 88.10 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 376.80 88.10 Td (Standards ) Tj ET Q q 0 0 0 rg BT 419.67 88.10 Td (Board ) Tj ET Q q 0 0 0 rg BT 447.54 88.10 Td (\("F) Tj ET Q q 0 0 0 rg BT 459.77 88.10 Td (ASB"\) ) Tj ET Q q 0 0 0 rg BT 490.07 88.10 Td (which ) Tj ET Q q 0 0 0 rg BT 517.94 88.10 Td (are ) Tj ET Q q 0 0 0 rg BT 533.58 88.10 Td (not ) Tj ET Q q 0 0 0 rg BT 549.79 88.10 Td (yet ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 76.10 Td (ef) Tj ET Q q 0 0 0 rg BT 57.59 76.10 Td (fective. ) Tj ET Q q 0 0 0 rg BT 89.71 76.10 Td ( ) Tj ET Q q 0 0 0 rg BT 92.14 76.10 Td (Management ) Tj ET Q q 0 0 0 rg BT 146.76 76.10 Td (does ) Tj ET Q q 0 0 0 rg BT 167.52 76.10 Td (not ) Tj ET Q q 0 0 0 rg BT 182.72 76.10 Td (believe ) Tj ET Q q 0 0 0 rg BT 214.01 76.10 Td (any ) Tj ET Q q 0 0 0 rg BT 230.87 76.10 Td (of ) Tj ET Q q 0 0 0 rg BT 241.63 76.10 Td (these ) Tj ET Q q 0 0 0 rg BT 264.60 76.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 310.89 76.10 Td (pronouncements ) Tj ET Q q 0 0 0 rg BT 379.41 76.10 Td (will ) Tj ET Q q 0 0 0 rg BT 397.39 76.10 Td (have ) Tj ET Q q 0 0 0 rg BT 418.69 76.10 Td (a ) Tj ET Q q 0 0 0 rg BT 425.55 76.10 Td (material ) Tj ET Q q 0 0 0 rg BT 460.73 76.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 490.37 76.10 Td (on ) Tj ET Q q 0 0 0 rg BT 502.79 76.10 Td (the ) Tj ET Q q 0 0 0 rg BT 517.43 76.10 Td (Company's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 64.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 87.48 64.10 Td (position ) Tj ET Q q 0 0 0 rg BT 122.21 64.10 Td (or ) Tj ET Q q 0 0 0 rg BT 133.04 64.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 173.30 64.10 Td (results.) Tj ET Q endstream endobj 25 0 obj <> endobj 26 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 283.05 772.75 Td (IZEA, Inc.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 181.55 760.75 Td (Notes to the Unaudited Consolidated Financial Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 731.10 Td (In ) Tj ET Q q 0 0 0 rg BT 59.61 731.10 Td (May ) Tj ET Q q 0 0 0 rg BT 79.22 731.10 Td (2014, ) Tj ET Q q 0 0 0 rg BT 103.01 731.10 Td (the ) Tj ET Q q 0 0 0 rg BT 116.50 731.10 Td (F) Tj ET Q q 0 0 0 rg BT 121.32 731.10 Td (ASB ) Tj ET Q q 0 0 0 rg BT 142.06 731.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 168.06 731.10 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 215.99 731.10 Td (Standards ) Tj ET Q q 0 0 0 rg BT 256.71 731.10 Td (Update ) Tj ET Q q 0 0 0 rg BT 286.87 731.10 Td (No. ) Tj ET Q q 0 0 0 rg BT 302.88 731.10 Td (2014-09, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 339.99 731.10 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 375.13 731.10 Td (fr) Tj ET Q q 0 0 0 rg BT 381.43 731.10 Td (om ) Tj ET Q q 0 0 0 rg BT 394.93 731.10 Td (Contracts ) Tj ET Q q 0 0 0 rg BT 435.66 731.10 Td (with ) Tj ET Q q 0 0 0 rg BT 454.17 731.10 Td (Customers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.24 731.10 Td (\(ASU ) Tj ET Q q 0 0 0 rg BT 522.85 731.10 Td (2014-09\), ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 719.10 Td (which ) Tj ET Q q 0 0 0 rg BT 77.30 719.10 Td (supersedes ) Tj ET Q q 0 0 0 rg BT 123.49 719.10 Td (nearly ) Tj ET Q q 0 0 0 rg BT 151.34 719.10 Td (all ) Tj ET Q q 0 0 0 rg BT 164.20 719.10 Td (existing ) Tj ET Q q 0 0 0 rg BT 198.73 719.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 233.24 719.10 Td (recognition ) Tj ET Q q 0 0 0 rg BT 281.65 719.10 Td (guidance ) Tj ET Q q 0 0 0 rg BT 320.61 719.10 Td (under ) Tj ET Q q 0 0 0 rg BT 346.24 719.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 366.89 719.10 Td (GAAP) Tj ET Q q 0 0 0 rg BT 393.01 719.10 Td (. ) Tj ET Q q 0 0 0 rg BT 398.17 719.10 Td (The ) Tj ET Q q 0 0 0 rg BT 416.58 719.10 Td (core ) Tj ET Q q 0 0 0 rg BT 436.65 719.10 Td (principle ) Tj ET Q q 0 0 0 rg BT 475.06 719.10 Td (of ) Tj ET Q q 0 0 0 rg BT 485.62 719.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 508.49 719.10 Td (2014-09 ) Tj ET Q q 0 0 0 rg BT 544.69 719.10 Td (is ) Tj ET Q q 0 0 0 rg BT 554.22 719.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 707.10 Td (recognize ) Tj ET Q q 0 0 0 rg BT 91.36 707.10 Td (revenues ) Tj ET Q q 0 0 0 rg BT 129.39 707.10 Td (when ) Tj ET Q q 0 0 0 rg BT 153.55 707.10 Td (promised ) Tj ET Q q 0 0 0 rg BT 193.27 707.10 Td (goods ) Tj ET Q q 0 0 0 rg BT 219.66 707.10 Td (or ) Tj ET Q q 0 0 0 rg BT 230.48 707.10 Td (services ) Tj ET Q q 0 0 0 rg BT 265.19 707.10 Td (are ) Tj ET Q q 0 0 0 rg BT 279.89 707.10 Td (transferred ) Tj ET Q q 0 0 0 rg BT 325.70 707.10 Td (to ) Tj ET Q q 0 0 0 rg BT 335.97 707.10 Td (customers ) Tj ET Q q 0 0 0 rg BT 379.02 707.10 Td (in ) Tj ET Q q 0 0 0 rg BT 389.29 707.10 Td (an ) Tj ET Q q 0 0 0 rg BT 401.23 707.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 433.72 707.10 Td (that ) Tj ET Q q 0 0 0 rg BT 451.21 707.10 Td (reflects ) Tj ET Q q 0 0 0 rg BT 483.13 707.10 Td (the ) Tj ET Q q 0 0 0 rg BT 497.85 707.10 Td (consideration ) Tj ET Q q 0 0 0 rg BT 554.22 707.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 695.10 Td (which ) Tj ET Q q 0 0 0 rg BT 77.20 695.10 Td (an ) Tj ET Q q 0 0 0 rg BT 89.41 695.10 Td (entity ) Tj ET Q q 0 0 0 rg BT 114.95 695.10 Td (expects ) Tj ET Q q 0 0 0 rg BT 147.70 695.10 Td (to ) Tj ET Q q 0 0 0 rg BT 158.24 695.10 Td (be ) Tj ET Q q 0 0 0 rg BT 170.44 695.10 Td (entitled ) Tj ET Q q 0 0 0 rg BT 203.20 695.10 Td (for ) Tj ET Q q 0 0 0 rg BT 217.62 695.10 Td (those ) Tj ET Q q 0 0 0 rg BT 241.50 695.10 Td (goods ) Tj ET Q q 0 0 0 rg BT 268.15 695.10 Td (or ) Tj ET Q q 0 0 0 rg BT 279.25 695.10 Td (services. ) Tj ET Q q 0 0 0 rg BT 316.11 695.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 338.88 695.10 Td (2014-09 ) Tj ET Q q 0 0 0 rg BT 374.98 695.10 Td (defines ) Tj ET Q q 0 0 0 rg BT 406.62 695.10 Td (a ) Tj ET Q q 0 0 0 rg BT 413.82 695.10 Td (five ) Tj ET Q q 0 0 0 rg BT 432.13 695.10 Td (step ) Tj ET Q q 0 0 0 rg BT 451.01 695.10 Td (process ) Tj ET Q q 0 0 0 rg BT 483.76 695.10 Td (to ) Tj ET Q q 0 0 0 rg BT 494.31 695.10 Td (achieve ) Tj ET Q q 0 0 0 rg BT 527.60 695.10 Td (this ) Tj ET Q q 0 0 0 rg BT 544.82 695.10 Td (core ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 683.10 Td (principle ) Tj ET Q q 0 0 0 rg BT 87.64 683.10 Td (and, ) Tj ET Q q 0 0 0 rg BT 106.68 683.10 Td (in ) Tj ET Q q 0 0 0 rg BT 116.56 683.10 Td (doing ) Tj ET Q q 0 0 0 rg BT 141.45 683.10 Td (so, ) Tj ET Q q 0 0 0 rg BT 154.94 683.10 Td (more ) Tj ET Q q 0 0 0 rg BT 177.59 683.10 Td (judgment ) Tj ET Q q 0 0 0 rg BT 217.46 683.10 Td (and ) Tj ET Q q 0 0 0 rg BT 234.00 683.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 273.32 683.10 Td (may ) Tj ET Q q 0 0 0 rg BT 292.64 683.10 Td (be ) Tj ET Q q 0 0 0 rg BT 304.18 683.10 Td (required ) Tj ET Q q 0 0 0 rg BT 339.59 683.10 Td (within ) Tj ET Q q 0 0 0 rg BT 367.25 683.10 Td (the ) Tj ET Q q 0 0 0 rg BT 381.57 683.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 415.32 683.10 Td (recognition ) Tj ET Q q 0 0 0 rg BT 462.96 683.10 Td (process ) Tj ET Q q 0 0 0 rg BT 495.06 683.10 Td (than ) Tj ET Q q 0 0 0 rg BT 514.38 683.10 Td (are ) Tj ET Q q 0 0 0 rg BT 528.68 683.10 Td (required ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 671.10 Td (under ) Tj ET Q q 0 0 0 rg BT 75.27 671.10 Td (existing ) Tj ET Q q 0 0 0 rg BT 109.43 671.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 129.72 671.10 Td (GAAP) Tj ET Q q 0 0 0 rg BT 155.83 671.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 647.10 Td (The ) Tj ET Q q 0 0 0 rg BT 68.23 647.10 Td (standard ) Tj ET Q q 0 0 0 rg BT 104.79 647.10 Td (is ) Tj ET Q q 0 0 0 rg BT 114.14 647.10 Td (ef) Tj ET Q q 0 0 0 rg BT 121.73 647.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 151.62 647.10 Td (for ) Tj ET Q q 0 0 0 rg BT 165.96 647.10 Td (annual ) Tj ET Q q 0 0 0 rg BT 195.30 647.10 Td (periods ) Tj ET Q q 0 0 0 rg BT 227.42 647.10 Td (beginning ) Tj ET Q q 0 0 0 rg BT 270.10 647.10 Td (after ) Tj ET Q q 0 0 0 rg BT 291.10 647.10 Td (December ) Tj ET Q q 0 0 0 rg BT 334.86 647.10 Td (15, ) Tj ET Q q 0 0 0 rg BT 350.05 647.10 Td (2016, ) Tj ET Q q 0 0 0 rg BT 375.23 647.10 Td (and ) Tj ET Q q 0 0 0 rg BT 392.35 647.10 Td (interim ) Tj ET Q q 0 0 0 rg BT 423.92 647.10 Td (periods ) Tj ET Q q 0 0 0 rg BT 456.04 647.10 Td (therein, ) Tj ET Q q 0 0 0 rg BT 488.98 647.10 Td (using ) Tj ET Q q 0 0 0 rg BT 513.34 647.10 Td (either ) Tj ET Q q 0 0 0 rg BT 538.78 647.10 Td (of ) Tj ET Q q 0 0 0 rg BT 549.80 647.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 635.10 Td (following ) Tj ET Q q 0 0 0 rg BT 91.89 635.10 Td (transition ) Tj ET Q q 0 0 0 rg BT 132.67 635.10 Td (methods: ) Tj ET Q q 0 0 0 rg BT 172.34 635.10 Td (\(i\) ) Tj ET Q q 0 0 0 rg BT 184.78 635.10 Td (a ) Tj ET Q q 0 0 0 rg BT 192.22 635.10 Td (full ) Tj ET Q q 0 0 0 rg BT 209.12 635.10 Td (retrospective ) Tj ET Q q 0 0 0 rg BT 263.76 635.10 Td (approach ) Tj ET Q q 0 0 0 rg BT 303.41 635.10 Td (reflecting ) Tj ET Q q 0 0 0 rg BT 344.73 635.10 Td (the ) Tj ET Q q 0 0 0 rg BT 359.95 635.10 Td (application ) Tj ET Q q 0 0 0 rg BT 407.38 635.10 Td (of ) Tj ET Q q 0 0 0 rg BT 418.71 635.10 Td (the ) Tj ET Q q 0 0 0 rg BT 433.94 635.10 Td (standard ) Tj ET Q q 0 0 0 rg BT 470.82 635.10 Td (in ) Tj ET Q q 0 0 0 rg BT 481.60 635.10 Td (each ) Tj ET Q q 0 0 0 rg BT 502.92 635.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 525.36 635.10 Td (reporting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 623.10 Td (period ) Tj ET Q q 0 0 0 rg BT 78.06 623.10 Td (with ) Tj ET Q q 0 0 0 rg BT 98.34 623.10 Td (the ) Tj ET Q q 0 0 0 rg BT 113.07 623.10 Td (option ) Tj ET Q q 0 0 0 rg BT 141.13 623.10 Td (to ) Tj ET Q q 0 0 0 rg BT 151.42 623.10 Td (elect ) Tj ET Q q 0 0 0 rg BT 172.80 623.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 202.51 623.10 Td (practical ) Tj ET Q q 0 0 0 rg BT 239.44 623.10 Td (expedients, ) Tj ET Q q 0 0 0 rg BT 287.21 623.10 Td (or ) Tj ET Q q 0 0 0 rg BT 298.05 623.10 Td (\(ii\) ) Tj ET Q q 0 0 0 rg BT 312.78 623.10 Td (a ) Tj ET Q q 0 0 0 rg BT 319.72 623.10 Td (retrospective ) Tj ET Q q 0 0 0 rg BT 373.87 623.10 Td (approach ) Tj ET Q q 0 0 0 rg BT 413.03 623.10 Td (with ) Tj ET Q q 0 0 0 rg BT 433.32 623.10 Td (the ) Tj ET Q q 0 0 0 rg BT 448.04 623.10 Td (cumulative ) Tj ET Q q 0 0 0 rg BT 494.98 623.10 Td (ef) Tj ET Q q 0 0 0 rg BT 502.57 623.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 520.06 623.10 Td (of ) Tj ET Q q 0 0 0 rg BT 530.90 623.10 Td (initially ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 611.10 Td (adopting ) Tj ET Q q 0 0 0 rg BT 87.54 611.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 110.82 611.10 Td (2014-09 ) Tj ET Q q 0 0 0 rg BT 147.42 611.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 194.55 611.10 Td (at ) Tj ET Q q 0 0 0 rg BT 205.03 611.10 Td (the ) Tj ET Q q 0 0 0 rg BT 220.52 611.10 Td (date ) Tj ET Q q 0 0 0 rg BT 240.44 611.10 Td (of ) Tj ET Q q 0 0 0 rg BT 252.04 611.10 Td (adoption ) Tj ET Q q 0 0 0 rg BT 290.31 611.10 Td (\(which ) Tj ET Q q 0 0 0 rg BT 321.34 611.10 Td (includes ) Tj ET Q q 0 0 0 rg BT 357.94 611.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 401.20 611.10 Td (footnote ) Tj ET Q q 0 0 0 rg BT 437.79 611.10 Td (disclosures\). ) Tj ET Q q 0 0 0 rg BT 491.33 611.10 Td ( ) Tj ET Q q 0 0 0 rg BT 494.36 611.10 Td (The ) Tj ET Q q 0 0 0 rg BT 513.18 611.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 555.33 611.10 Td (is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 599.10 Td (currently ) Tj ET Q q 0 0 0 rg BT 87.83 599.10 Td (evaluating ) Tj ET Q q 0 0 0 rg BT 131.23 599.10 Td (the ) Tj ET Q q 0 0 0 rg BT 145.18 599.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 174.14 599.10 Td (of ) Tj ET Q q 0 0 0 rg BT 184.21 599.10 Td (the ) Tj ET Q q 0 0 0 rg BT 198.16 599.10 Td (adoption ) Tj ET Q q 0 0 0 rg BT 234.90 599.10 Td (of ) Tj ET Q q 0 0 0 rg BT 244.59 599.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 266.33 599.10 Td (2014-09 ) Tj ET Q q 0 0 0 rg BT 301.40 599.10 Td (on ) Tj ET Q q 0 0 0 rg BT 313.14 599.10 Td (its ) Tj ET Q q 0 0 0 rg BT 324.33 599.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 376.62 599.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 413.34 599.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 457.29 599.10 Td (and ) Tj ET Q q 0 0 0 rg BT 473.47 599.10 Td (has ) Tj ET Q q 0 0 0 rg BT 488.54 599.10 Td (not ) Tj ET Q q 0 0 0 rg BT 503.06 599.10 Td (yet ) Tj ET Q q 0 0 0 rg BT 517.02 599.10 Td (determined ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 587.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.72 587.10 Td (method ) Tj ET Q q 0 0 0 rg BT 97.21 587.10 Td (by ) Tj ET Q q 0 0 0 rg BT 109.71 587.10 Td (which ) Tj ET Q q 0 0 0 rg BT 136.65 587.10 Td (it ) Tj ET Q q 0 0 0 rg BT 144.71 587.10 Td (will ) Tj ET Q q 0 0 0 rg BT 162.76 587.10 Td (adopt ) Tj ET Q q 0 0 0 rg BT 187.48 587.10 Td (the ) Tj ET Q q 0 0 0 rg BT 202.20 587.10 Td (standard ) Tj ET Q q 0 0 0 rg BT 238.57 587.10 Td (in ) Tj ET Q q 0 0 0 rg BT 248.85 587.10 Td (2017.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 563.10 Td (NOTE 2. ) Tj ET Q q 0 0 0 rg BT 122.00 563.10 Td (EBYLINE ) Tj ET Q q 0 0 0 rg BT 168.96 563.10 Td (ACQUISITION) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 50 537.53505859375 m 113.9599609375 537.53505859375 l s q 0 0 0 rg BT 50.00 539.10 Td (Pur) Tj ET Q q 0 0 0 rg BT 65.93 539.10 Td (chase Price) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 522.10 Td (On ) Tj ET Q q 0 0 0 rg BT 64.60 522.10 Td (January ) Tj ET Q q 0 0 0 rg BT 98.08 522.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 112.97 522.10 Td (2015, ) Tj ET Q q 0 0 0 rg BT 137.85 522.10 Td (the ) Tj ET Q q 0 0 0 rg BT 152.45 522.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 193.71 522.10 Td (purchased ) Tj ET Q q 0 0 0 rg BT 236.63 522.10 Td (all ) Tj ET Q q 0 0 0 rg BT 249.01 522.10 Td (of ) Tj ET Q q 0 0 0 rg BT 259.72 522.10 Td (the ) Tj ET Q q 0 0 0 rg BT 274.32 522.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 323.37 522.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 350.74 522.10 Td (of ) Tj ET Q q 0 0 0 rg BT 361.45 522.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 390.48 522.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 413.97 522.10 Td (of ) Tj ET Q q 0 0 0 rg BT 424.69 522.10 Td (Ebyline, ) Tj ET Q q 0 0 0 rg BT 460.67 522.10 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 497.49 522.10 Td (to ) Tj ET Q q 0 0 0 rg BT 507.65 522.10 Td (the ) Tj ET Q q 0 0 0 rg BT 522.25 522.10 Td (terms ) Tj ET Q q 0 0 0 rg BT 546.85 522.10 Td (of ) Tj ET Q q 0 0 0 rg BT 557.56 522.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 510.10 Td (Stock ) Tj ET Q q 0 0 0 rg BT 75.86 510.10 Td (Purchase ) Tj ET Q q 0 0 0 rg BT 114.37 510.10 Td (Agreement, ) Tj ET Q q 0 0 0 rg BT 164.38 510.10 Td (dated ) Tj ET Q q 0 0 0 rg BT 189.12 510.10 Td (as ) Tj ET Q q 0 0 0 rg BT 200.53 510.10 Td (of ) Tj ET Q q 0 0 0 rg BT 211.95 510.10 Td (January ) Tj ET Q q 0 0 0 rg BT 246.14 510.10 Td (27, ) Tj ET Q q 0 0 0 rg BT 261.72 510.10 Td (2015, ) Tj ET Q q 0 0 0 rg BT 287.31 510.10 Td (by ) Tj ET Q q 0 0 0 rg BT 300.39 510.10 Td (and ) Tj ET Q q 0 0 0 rg BT 317.92 510.10 Td (among ) Tj ET Q q 0 0 0 rg BT 348.22 510.10 Td (IZEA, ) Tj ET Q q 0 0 0 rg BT 376.57 510.10 Td (Ebyline ) Tj ET Q q 0 0 0 rg BT 410.76 510.10 Td (and ) Tj ET Q q 0 0 0 rg BT 428.29 510.10 Td (the ) Tj ET Q q 0 0 0 rg BT 443.59 510.10 Td (stockholders ) Tj ET Q q 0 0 0 rg BT 497.22 510.10 Td (of ) Tj ET Q q 0 0 0 rg BT 508.64 510.10 Td (Ebyline ) Tj ET Q q 0 0 0 rg BT 542.83 510.10 Td (for ) Tj ET Q q 0 0 0 rg BT 557.58 510.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 498.10 Td (maximum ) Tj ET Q q 0 0 0 rg BT 92.18 498.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 129.35 498.10 Td (price ) Tj ET Q q 0 0 0 rg BT 150.97 498.10 Td (to ) Tj ET Q q 0 0 0 rg BT 160.38 498.10 Td (be ) Tj ET Q q 0 0 0 rg BT 171.45 498.10 Td (paid ) Tj ET Q q 0 0 0 rg BT 190.29 498.10 Td (over ) Tj ET Q q 0 0 0 rg BT 209.69 498.10 Td (the ) Tj ET Q q 0 0 0 rg BT 223.54 498.10 Td (next ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.39 498.10 Td (three ) Tj ET Q q 0 0 0 rg BT 264.00 498.10 Td (years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.10 498.10 Td ( ) Tj ET Q q 0 0 0 rg BT 286.73 498.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.69 498.10 Td ($8,850,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.69 498.10 Td (. ) Tj ET Q q 0 0 0 rg BT 345.83 498.10 Td ( ) Tj ET Q q 0 0 0 rg BT 347.34 498.10 Td (The ) Tj ET Q q 0 0 0 rg BT 364.52 498.10 Td (total ) Tj ET Q q 0 0 0 rg BT 383.92 498.10 Td (consideration ) Tj ET Q q 0 0 0 rg BT 439.42 498.10 Td (is ) Tj ET Q q 0 0 0 rg BT 447.72 498.10 Td (made ) Tj ET Q q 0 0 0 rg BT 471.01 498.10 Td (up ) Tj ET Q q 0 0 0 rg BT 482.64 498.10 Td (of ) Tj ET Q q 0 0 0 rg BT 492.60 498.10 Td (four ) Tj ET Q q 0 0 0 rg BT 510.89 498.10 Td (components:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 480.10 Td (\(a\) ) Tj ET Q q 0 0 0 rg BT 122.00 480.10 Td (a ) Tj ET Q q 0 0 0 rg BT 128.94 480.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 149.21 480.10 Td (payment ) Tj ET Q q 0 0 0 rg BT 186.14 480.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.97 480.10 Td ($1,200,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.97 480.10 Td ( ) Tj ET Q q 0 0 0 rg BT 244.47 480.10 Td (paid ) Tj ET Q q 0 0 0 rg BT 264.19 480.10 Td (at ) Tj ET Q q 0 0 0 rg BT 273.90 480.10 Td (closing;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 462.10 Td (\(b\) ) Tj ET Q q 0 0 0 rg BT 122.00 462.10 Td (an ) Tj ET Q q 0 0 0 rg BT 133.94 462.10 Td (issuance ) Tj ET Q q 0 0 0 rg BT 170.32 462.10 Td (of ) Tj ET Q q 0 0 0 rg BT 181.15 462.10 Td (IZEA) Tj ET Q q 0 0 0 rg BT 203.36 462.10 Td ( ) Tj ET Q q 0 0 0 rg BT 205.86 462.10 Td (Common ) Tj ET Q q 0 0 0 rg BT 245.59 462.10 Td (Stock ) Tj ET Q q 0 0 0 rg BT 270.87 462.10 Td (valued ) Tj ET Q q 0 0 0 rg BT 300.02 462.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.74 462.10 Td ($250,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.24 462.10 Td ( ) Tj ET Q q 0 0 0 rg BT 349.74 462.10 Td (paid ) Tj ET Q q 0 0 0 rg BT 369.46 462.10 Td (on ) Tj ET Q q 0 0 0 rg BT 381.96 462.10 Td (July ) Tj ET Q q 0 0 0 rg BT 401.13 462.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 416.13 462.10 Td (2015;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 444.10 Td (\(c\) ) Tj ET Q q 0 0 0 rg BT 122.00 444.10 Td (a ) Tj ET Q q 0 0 0 rg BT 127.96 444.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 147.24 444.10 Td (or ) Tj ET Q q 0 0 0 rg BT 157.09 444.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 179.72 444.10 Td (payment ) Tj ET Q q 0 0 0 rg BT 215.67 444.10 Td (of ) Tj ET Q q 0 0 0 rg BT 225.52 444.10 Td (up ) Tj ET Q q 0 0 0 rg BT 237.04 444.10 Td (to ) Tj ET Q q 0 0 0 rg BT 246.34 444.10 Td (an ) Tj ET Q q 0 0 0 rg BT 257.29 444.10 Td (additional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.80 444.10 Td ($1,900,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.80 444.10 Td ( ) Tj ET Q q 0 0 0 rg BT 345.32 444.10 Td (\() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 444.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 378.49 444.10 Td (to ) Tj ET Q q 0 0 0 rg BT 387.79 444.10 Td (proportional ) Tj ET Q q 0 0 0 rg BT 438.74 444.10 Td (reduction ) Tj ET Q q 0 0 0 rg BT 478.03 444.10 Td (in ) Tj ET Q q 0 0 0 rg BT 487.32 444.10 Td (the ) Tj ET Q q 0 0 0 rg BT 501.06 444.10 Td (event ) Tj ET Q q 0 0 0 rg BT 524.23 444.10 Td (Ebyline) Tj ET Q q 0 0 0 rg BT 558.11 444.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 432.10 Td (final ) Tj ET Q q 0 0 0 rg BT 71.19 432.10 Td (2014 ) Tj ET Q q 0 0 0 rg BT 94.06 432.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 128.57 432.10 Td (was ) Tj ET Q q 0 0 0 rg BT 146.99 432.10 Td (below ) Tj ET Q q 0 0 0 rg BT 174.29 432.10 Td ($8,000,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.29 432.10 Td (\). ) Tj ET Q q 0 0 0 rg BT 227.99 432.10 Td ( ) Tj ET Q q 0 0 0 rg BT 230.85 432.10 Td (Ebyline's ) Tj ET Q q 0 0 0 rg BT 270.52 432.10 Td (final ) Tj ET Q q 0 0 0 rg BT 291.71 432.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 315.69 432.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 350.20 432.10 Td (for ) Tj ET Q q 0 0 0 rg BT 364.73 432.10 Td (2014 ) Tj ET Q q 0 0 0 rg BT 387.59 432.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.01 432.10 Td ($7,903,429) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.01 432.10 Td (. ) Tj ET Q q 0 0 0 rg BT 456.38 432.10 Td ( ) Tj ET Q q 0 0 0 rg BT 458.61 432.10 Td (As ) Tj ET Q q 0 0 0 rg BT 472.59 432.10 Td (such, ) Tj ET Q q 0 0 0 rg BT 496.29 432.10 Td (the ) Tj ET Q q 0 0 0 rg BT 511.37 432.10 Td (total ) Tj ET Q q 0 0 0 rg BT 532.01 432.10 Td (amount ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 420.10 Td (owed ) Tj ET Q q 0 0 0 rg BT 74.16 420.10 Td (is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 83.33 420.10 Td ($1,877,064) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.33 420.10 Td ( ) Tj ET Q q 0 0 0 rg BT 130.83 420.10 Td (to ) Tj ET Q q 0 0 0 rg BT 141.11 420.10 Td (be ) Tj ET Q q 0 0 0 rg BT 153.05 420.10 Td (paid ) Tj ET Q q 0 0 0 rg BT 172.76 420.10 Td (in ) Tj ET Q q 0 0 0 rg BT 183.04 420.10 Td (two ) Tj ET Q q 0 0 0 rg BT 200.54 420.10 Td (equal ) Tj ET Q q 0 0 0 rg BT 224.70 420.10 Td (installments ) Tj ET Q q 0 0 0 rg BT 275.53 420.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.36 420.10 Td ($938,532) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.86 420.10 Td ( ) Tj ET Q q 0 0 0 rg BT 326.36 420.10 Td (on ) Tj ET Q q 0 0 0 rg BT 338.86 420.10 Td (January ) Tj ET Q q 0 0 0 rg BT 372.46 420.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 387.46 420.10 Td (2016 ) Tj ET Q q 0 0 0 rg BT 409.96 420.10 Td (and ) Tj ET Q q 0 0 0 rg BT 426.89 420.10 Td (January ) Tj ET Q q 0 0 0 rg BT 460.49 420.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 475.49 420.10 Td (2017; ) Tj ET Q q 0 0 0 rg BT 500.77 420.10 Td (and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 402.10 Td (\(d\) ) Tj ET Q q 0 0 0 rg BT 122.00 402.10 Td (total ) Tj ET Q q 0 0 0 rg BT 141.71 402.10 Td (contingent ) Tj ET Q q 0 0 0 rg BT 185.86 402.10 Td (performance ) Tj ET Q q 0 0 0 rg BT 238.32 402.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 278.59 402.10 Td (up ) Tj ET Q q 0 0 0 rg BT 290.53 402.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.24 402.10 Td ($5,500,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.24 402.10 Td ( ) Tj ET Q q 0 0 0 rg BT 347.18 402.10 Td (based ) Tj ET Q q 0 0 0 rg BT 371.89 402.10 Td (on ) Tj ET Q q 0 0 0 rg BT 383.83 402.10 Td (Ebyline ) Tj ET Q q 0 0 0 rg BT 416.87 402.10 Td (meeting ) Tj ET Q q 0 0 0 rg BT 451.02 402.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 480.16 402.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 513.74 402.10 Td (tar) Tj ET Q q 0 0 0 rg BT 524.11 402.10 Td (gets. ) Tj ET Q q 0 0 0 rg BT 544.66 402.10 Td ( ) Tj ET Q q 0 0 0 rg BT 546.45 402.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 390.10 Td (performance ) Tj ET Q q 0 0 0 rg BT 102.96 390.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 143.72 390.10 Td (are ) Tj ET Q q 0 0 0 rg BT 158.36 390.10 Td (to ) Tj ET Q q 0 0 0 rg BT 168.58 390.10 Td (be ) Tj ET Q q 0 0 0 rg BT 180.45 390.10 Td (made ) Tj ET Q q 0 0 0 rg BT 204.55 390.10 Td (only ) Tj ET Q q 0 0 0 rg BT 224.76 390.10 Td (if ) Tj ET Q q 0 0 0 rg BT 233.31 390.10 Td (Ebyline ) Tj ET Q q 0 0 0 rg BT 266.85 390.10 Td (achieves ) Tj ET Q q 0 0 0 rg BT 303.71 390.10 Td (at ) Tj ET Q q 0 0 0 rg BT 313.36 390.10 Td (least ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.12 390.10 Td (90%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.45 390.10 Td ( ) Tj ET Q q 0 0 0 rg BT 354.89 390.10 Td (of ) Tj ET Q q 0 0 0 rg BT 365.65 390.10 Td (Content ) Tj ET Q q 0 0 0 rg BT 399.76 390.10 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 437.18 390.10 Td (tar) Tj ET Q q 0 0 0 rg BT 447.54 390.10 Td (gets ) Tj ET Q q 0 0 0 rg BT 466.09 390.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.86 390.10 Td ($17,000,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.86 390.10 Td ( ) Tj ET Q q 0 0 0 rg BT 529.29 390.10 Td (in ) Tj ET Q q 0 0 0 rg BT 539.51 390.10 Td (2015, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 378.10 Td ($27,000,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 100.00 378.10 Td ( ) Tj ET Q q 0 0 0 rg BT 103.12 378.10 Td (in ) Tj ET Q q 0 0 0 rg BT 114.01 378.10 Td (2016 ) Tj ET Q q 0 0 0 rg BT 137.12 378.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.68 378.10 Td ($32,000,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.68 378.10 Td ( ) Tj ET Q q 0 0 0 rg BT 207.79 378.10 Td (in ) Tj ET Q q 0 0 0 rg BT 218.69 378.10 Td (2017. ) Tj ET Q q 0 0 0 rg BT 244.30 378.10 Td ( ) Tj ET Q q 0 0 0 rg BT 247.42 378.10 Td (If ) Tj ET Q q 0 0 0 rg BT 257.19 378.10 Td (Ebyline ) Tj ET Q q 0 0 0 rg BT 291.41 378.10 Td (achieves ) Tj ET Q q 0 0 0 rg BT 328.95 378.10 Td (at ) Tj ET Q q 0 0 0 rg BT 339.28 378.10 Td (least ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.72 378.10 Td (90%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.05 378.10 Td (, ) Tj ET Q q 0 0 0 rg BT 384.67 378.10 Td (but ) Tj ET Q q 0 0 0 rg BT 400.56 378.10 Td (less ) Tj ET Q q 0 0 0 rg BT 418.68 378.10 Td (than ) Tj ET Q q 0 0 0 rg BT 439.01 378.10 Td (100% ) Tj ET Q q 0 0 0 rg BT 465.45 378.10 Td (of ) Tj ET Q q 0 0 0 rg BT 476.90 378.10 Td (the ) Tj ET Q q 0 0 0 rg BT 492.23 378.10 Td (Content ) Tj ET Q q 0 0 0 rg BT 527.01 378.10 Td (Revenue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 366.10 Td (tar) Tj ET Q q 0 0 0 rg BT 60.37 366.10 Td (gets, ) Tj ET Q q 0 0 0 rg BT 81.34 366.10 Td (the ) Tj ET Q q 0 0 0 rg BT 95.91 366.10 Td (performance ) Tj ET Q q 0 0 0 rg BT 148.80 366.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 189.48 366.10 Td (owed ) Tj ET Q q 0 0 0 rg BT 213.50 366.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.19 366.10 Td ($1,800,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.19 366.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.06 366.10 Td ($1,800,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.06 366.10 Td ( ) Tj ET Q q 0 0 0 rg BT 321.42 366.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.22 366.10 Td ($1,900,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.22 366.10 Td ( ) Tj ET Q q 0 0 0 rg BT 385.58 366.10 Td (for ) Tj ET Q q 0 0 0 rg BT 399.60 366.10 Td (each ) Tj ET Q q 0 0 0 rg BT 420.27 366.10 Td (of ) Tj ET Q q 0 0 0 rg BT 430.96 366.10 Td (the ) Tj ET Q q 0 0 0 rg BT 445.54 366.10 Td (three ) Tj ET Q q 0 0 0 rg BT 467.89 366.10 Td (years ) Tj ET Q q 0 0 0 rg BT 491.35 366.10 Td (ending ) Tj ET Q q 0 0 0 rg BT 520.93 366.10 Td (December ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 354.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 65.16 354.10 Td (2015, ) Tj ET Q q 0 0 0 rg BT 90.33 354.10 Td (2016 ) Tj ET Q q 0 0 0 rg BT 112.99 354.10 Td (and ) Tj ET Q q 0 0 0 rg BT 130.09 354.10 Td (2017, ) Tj ET Q q 0 0 0 rg BT 155.25 354.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 202.91 354.10 Td (, ) Tj ET Q q 0 0 0 rg BT 208.08 354.10 Td (will ) Tj ET Q q 0 0 0 rg BT 226.29 354.10 Td (be ) Tj ET Q q 0 0 0 rg BT 238.40 354.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 269.38 354.10 Td (to ) Tj ET Q q 0 0 0 rg BT 279.82 354.10 Td (adjustment. ) Tj ET Q q 0 0 0 rg BT 328.87 354.10 Td ( ) Tj ET Q q 0 0 0 rg BT 330.94 354.10 Td (Anything ) Tj ET Q q 0 0 0 rg BT 371.38 354.10 Td (below ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.49 354.10 Td (90%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.82 354.10 Td ( ) Tj ET Q q 0 0 0 rg BT 419.48 354.10 Td (of ) Tj ET Q q 0 0 0 rg BT 430.47 354.10 Td (the ) Tj ET Q q 0 0 0 rg BT 445.35 354.10 Td (Content ) Tj ET Q q 0 0 0 rg BT 479.68 354.10 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 517.33 354.10 Td (tar) Tj ET Q q 0 0 0 rg BT 527.69 354.10 Td (gets ) Tj ET Q q 0 0 0 rg BT 546.46 354.10 Td (will ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 342.10 Td (not ) Tj ET Q q 0 0 0 rg BT 65.66 342.10 Td (be ) Tj ET Q q 0 0 0 rg BT 77.98 342.10 Td (eligible ) Tj ET Q q 0 0 0 rg BT 110.85 342.10 Td (for ) Tj ET Q q 0 0 0 rg BT 125.39 342.10 Td (any ) Tj ET Q q 0 0 0 rg BT 142.71 342.10 Td (performance ) Tj ET Q q 0 0 0 rg BT 196.11 342.10 Td (payment. ) Tj ET Q q 0 0 0 rg BT 235.92 342.10 Td ( ) Tj ET Q q 0 0 0 rg BT 238.59 342.10 Td (The ) Tj ET Q q 0 0 0 rg BT 257.02 342.10 Td (performance ) Tj ET Q q 0 0 0 rg BT 310.42 342.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 351.63 342.10 Td (are ) Tj ET Q q 0 0 0 rg BT 366.71 342.10 Td (also ) Tj ET Q q 0 0 0 rg BT 385.70 342.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 416.91 342.10 Td (to ) Tj ET Q q 0 0 0 rg BT 427.56 342.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.88 342.10 Td (17%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.21 342.10 Td ( ) Tj ET Q q 0 0 0 rg BT 456.09 342.10 Td (reduction ) Tj ET Q q 0 0 0 rg BT 496.74 342.10 Td (in ) Tj ET Q q 0 0 0 rg BT 507.40 342.10 Td (the ) Tj ET Q q 0 0 0 rg BT 522.49 342.10 Td (event ) Tj ET Q q 0 0 0 rg BT 547.03 342.10 Td (that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 330.10 Td (either ) Tj ET Q q 0 0 0 rg BT 75.72 330.10 Td (of ) Tj ET Q q 0 0 0 rg BT 87.00 330.10 Td (the ) Tj ET Q q 0 0 0 rg BT 102.17 330.10 Td (two ) Tj ET Q q 0 0 0 rg BT 120.12 330.10 Td (executive ) Tj ET Q q 0 0 0 rg BT 161.38 330.10 Td (employees ) Tj ET Q q 0 0 0 rg BT 207.09 330.10 Td (retained ) Tj ET Q q 0 0 0 rg BT 242.25 330.10 Td (during ) Tj ET Q q 0 0 0 rg BT 271.31 330.10 Td (the ) Tj ET Q q 0 0 0 rg BT 286.48 330.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 333.31 330.10 Td (were ) Tj ET Q q 0 0 0 rg BT 355.69 330.10 Td (no ) Tj ET Q q 0 0 0 rg BT 368.64 330.10 Td (longer ) Tj ET Q q 0 0 0 rg BT 397.14 330.10 Td (employed ) Tj ET Q q 0 0 0 rg BT 439.53 330.10 Td (at ) Tj ET Q q 0 0 0 rg BT 449.69 330.10 Td (the ) Tj ET Q q 0 0 0 rg BT 464.86 330.10 Td (end ) Tj ET Q q 0 0 0 rg BT 482.25 330.10 Td (of ) Tj ET Q q 0 0 0 rg BT 493.54 330.10 Td (the ) Tj ET Q q 0 0 0 rg BT 508.70 330.10 Td (measurement ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 318.10 Td (year) Tj ET Q q 0 0 0 rg BT 66.66 318.10 Td (. ) Tj ET Q q 0 0 0 rg BT 71.55 318.10 Td ( ) Tj ET Q q 0 0 0 rg BT 73.94 318.10 Td (Performance ) Tj ET Q q 0 0 0 rg BT 127.41 318.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 168.13 318.10 Td (are ) Tj ET Q q 0 0 0 rg BT 182.72 318.10 Td (due ) Tj ET Q q 0 0 0 rg BT 199.55 318.10 Td (no ) Tj ET Q q 0 0 0 rg BT 211.94 318.10 Td (later ) Tj ET Q q 0 0 0 rg BT 232.09 318.10 Td (than ) Tj ET Q q 0 0 0 rg BT 251.70 318.10 Td (90 ) Tj ET Q q 0 0 0 rg BT 264.09 318.10 Td (days ) Tj ET Q q 0 0 0 rg BT 284.81 318.10 Td (after ) Tj ET Q q 0 0 0 rg BT 305.52 318.10 Td (the ) Tj ET Q q 0 0 0 rg BT 320.12 318.10 Td (measuring ) Tj ET Q q 0 0 0 rg BT 364.17 318.10 Td (period ) Tj ET Q q 0 0 0 rg BT 392.11 318.10 Td (and ) Tj ET Q q 0 0 0 rg BT 408.94 318.10 Td (may ) Tj ET Q q 0 0 0 rg BT 428.54 318.10 Td (be ) Tj ET Q q 0 0 0 rg BT 440.37 318.10 Td (paid ) Tj ET Q q 0 0 0 rg BT 459.98 318.10 Td (in ) Tj ET Q q 0 0 0 rg BT 470.15 318.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 490.31 318.10 Td (or ) Tj ET Q q 0 0 0 rg BT 501.03 318.10 Td (common ) Tj ET Q q 0 0 0 rg BT 538.41 318.10 Td (stock, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 306.10 Td (at ) Tj ET Q q 0 0 0 rg BT 59.72 306.10 Td (the ) Tj ET Q q 0 0 0 rg BT 74.43 306.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 121.51 306.10 Td (option.) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 50 286.53505859375 m 146.9482421875 286.53505859375 l s q 0 0 0 rg BT 50.00 288.10 Td (Consideration Payable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 270.10 Td (The fair value of the total estimated future consideration to be paid is as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 199.60 310.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.50 199.60 67.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 199.60 67.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 199.60 68.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 167.60 310.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.50 167.60 67.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 167.60 67.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 167.60 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 139.60 310.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.50 139.60 67.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 139.60 67.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 139.60 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 111.60 310.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.50 111.60 67.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 111.60 67.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 111.60 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 83.60 310.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.50 83.60 67.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 83.60 67.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 83.60 68.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 199.60000000000002 m 360.5 199.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360.5 199.60000000000002 m 427.5 199.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 199.60000000000002 m 494.5 199.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 199.60000000000002 m 562.5 199.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360.5 199.60000000000002 m 427.5 199.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 199.60000000000002 m 494.5 199.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 199.60000000000002 m 562.5 199.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360.5 139.60000000000002 m 427.5 139.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 139.60000000000002 m 494.5 139.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 139.60000000000002 m 562.5 139.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 139.60000000000002 m 360.5 139.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 126.60000000000002 m 360.5 126.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 124.60000000000002 m 360.5 124.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360.5 126.60000000000002 m 427.5 126.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360.5 124.60000000000002 m 427.5 124.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 139.60000000000002 m 494.5 139.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 126.60000000000002 m 494.5 126.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 124.60000000000002 m 494.5 124.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 139.60000000000002 m 562.5 139.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 126.60000000000002 m 562.5 126.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 124.60000000000002 m 562.5 124.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 83.60000000000002 m 360.5 83.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 70.60000000000002 m 360.5 70.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 68.60000000000002 m 360.5 68.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360.5 83.60000000000002 m 427.5 83.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360.5 70.60000000000002 m 427.5 70.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360.5 68.60000000000002 m 427.5 68.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 83.60000000000002 m 494.5 83.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 70.60000000000002 m 494.5 70.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 68.60000000000002 m 494.5 68.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 83.60000000000002 m 562.5 83.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 70.60000000000002 m 562.5 70.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 68.60000000000002 m 562.5 68.60000000000002 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.50 249.27 Td (Estimated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.80 239.27 Td (Gross) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.45 229.27 Td (Purchase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.40 219.27 Td (Consideration) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.55 229.27 Td (Initial Present) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.40 219.27 Td (and Fair Value) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.05 239.27 Td (Remaining) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.80 229.27 Td (Present and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.40 219.27 Td (Fair Value) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.20 204.27 Td (1/30/2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.20 204.27 Td (1/30/2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.70 204.27 Td (9/30/2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 188.27 Td (Cash paid at closing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.00 188.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.65 188.27 Td (1,200,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 188.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.65 188.27 Td (1,200,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.00 188.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 188.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 172.27 Td (Present value of the guaranteed purchase price \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.65 172.27 Td (2,127,064) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.65 172.27 Td (1,982,639) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 172.27 Td (1,800,596) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 158.17 Td (Fair value of contingent performance payments \(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.65 158.17 Td (2,210,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.65 158.17 Td (1,834,300) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 158.17 Td (100,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 144.17 Td (Acquisition costs to be paid by Ebyline shareholders \(c\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 144.22 Td (\(89,700) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 144.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 130.17 Td (Total estimated consideration) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.00 130.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.65 130.17 Td (5,537,064) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 130.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.65 130.17 Td (5,016,939) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.00 130.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 130.17 Td (1,810,896) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 102.17 Td (Current portion of acquisition costs payable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 102.17 Td (833,227) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 88.17 Td (Long term portion of acquisition costs payable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 88.17 Td (977,669) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 74.17 Td (Total acquisition costs payable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.00 74.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 74.17 Td (1,810,896) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 27 0 obj <> endobj 28 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 283.05 772.75 Td (IZEA, Inc.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 181.55 760.75 Td (Notes to the Unaudited Consolidated Financial Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.15 31.60 Td (1) Tj ET Q q 0 0 0 rg BT 305.78 31.60 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 742.10 Td (\(a\) ) Tj ET Q q 0 0 0 rg BT 99.60 742.10 Td ( ) Tj ET Q q 0 0 0 rg BT 104.00 742.10 Td (The ) Tj ET Q q 0 0 0 rg BT 122.20 742.10 Td (guaranteed ) Tj ET Q q 0 0 0 rg BT 168.72 742.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 206.92 742.10 Td (price ) Tj ET Q q 0 0 0 rg BT 229.56 742.10 Td (consideration, ) Tj ET Q q 0 0 0 rg BT 288.58 742.10 Td (as ) Tj ET Q q 0 0 0 rg BT 299.57 742.10 Td (detailed ) Tj ET Q q 0 0 0 rg BT 333.88 742.10 Td (above, ) Tj ET Q q 0 0 0 rg BT 362.91 742.10 Td (was ) Tj ET Q q 0 0 0 rg BT 381.12 742.10 Td (discounted ) Tj ET Q q 0 0 0 rg BT 427.10 742.10 Td (to ) Tj ET Q q 0 0 0 rg BT 437.54 742.10 Td (present ) Tj ET Q q 0 0 0 rg BT 469.07 742.10 Td (value ) Tj ET Q q 0 0 0 rg BT 493.38 742.10 Td (using ) Tj ET Q q 0 0 0 rg BT 517.71 742.10 Td (our ) Tj ET Q q 0 0 0 rg BT 533.69 742.10 Td (current ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 730.10 Td (borrowing ) Tj ET Q q 0 0 0 rg BT 149.93 730.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 169.18 730.10 Td (of ) Tj ET Q q 0 0 0 rg BT 181.78 730.10 Td (prime ) Tj ET Q q 0 0 0 rg BT 209.37 730.10 Td (plus ) Tj ET Q q 0 0 0 rg BT 230.31 730.10 Td (2% ) Tj ET Q q 0 0 0 rg BT 247.91 730.10 Td (\(5.25%\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.40 730.10 Td (. ) Tj ET Q q 0 0 0 rg BT 287.17 730.10 Td ( ) Tj ET Q q 0 0 0 rg BT 291.44 730.10 Td (Interest ) Tj ET Q q 0 0 0 rg BT 325.69 730.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 362.16 730.10 Td (imputed ) Tj ET Q q 0 0 0 rg BT 399.21 730.10 Td (on ) Tj ET Q q 0 0 0 rg BT 413.47 730.10 Td (the ) Tj ET Q q 0 0 0 rg BT 429.96 730.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 478.11 730.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 502.38 730.10 Td (payable ) Tj ET Q q 0 0 0 rg BT 537.74 730.10 Td (in ) Tj ET Q q 0 0 0 rg BT 549.78 730.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 718.10 Td (accompanying ) Tj ET Q q 0 0 0 rg BT 164.52 718.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 217.27 718.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 261.69 718.10 Td (of ) Tj ET Q q 0 0 0 rg BT 272.23 718.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 316.09 718.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.85 718.10 Td ($28,651) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.35 718.10 Td ( ) Tj ET Q q 0 0 0 rg BT 368.56 718.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.21 718.10 Td ($43,789) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.71 718.10 Td ( ) Tj ET Q q 0 0 0 rg BT 419.92 718.10 Td (for ) Tj ET Q q 0 0 0 rg BT 433.79 718.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.21 718.10 Td (three ) Tj ET Q q 0 0 0 rg BT 470.40 718.10 Td (and ) Tj ET Q q 0 0 0 rg BT 487.05 718.10 Td (nine ) Tj ET Q q 0 0 0 rg BT 506.48 718.10 Td (months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.92 718.10 Td ( ) Tj ET Q q 0 0 0 rg BT 538.13 718.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 706.10 Td (September30, ) Tj ET Q q 0 0 0 rg BT 164.23 706.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.23 706.10 Td (. ) Tj ET Q q 0 0 0 rg BT 189.20 706.10 Td ( ) Tj ET Q q 0 0 0 rg BT 191.66 706.10 Td (Per ) Tj ET Q q 0 0 0 rg BT 207.46 706.10 Td (the ) Tj ET Q q 0 0 0 rg BT 222.14 706.10 Td (Stock ) Tj ET Q q 0 0 0 rg BT 247.38 706.10 Td (Purchase ) Tj ET Q q 0 0 0 rg BT 285.40 706.10 Td (Agreement, ) Tj ET Q q 0 0 0 rg BT 334.79 706.10 Td (the ) Tj ET Q q 0 0 0 rg BT 349.48 706.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 390.83 706.10 Td (issued ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.29 706.10 Td (636,294) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.79 706.10 Td ( ) Tj ET Q q 0 0 0 rg BT 453.26 706.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 480.72 706.10 Td (of ) Tj ET Q q 0 0 0 rg BT 491.51 706.10 Td (its ) Tj ET Q q 0 0 0 rg BT 503.43 706.10 Td (common ) Tj ET Q q 0 0 0 rg BT 540.89 706.10 Td (stock ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 694.10 Td (valued ) Tj ET Q q 0 0 0 rg BT 133.16 694.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.87 694.10 Td ($250,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 180.37 694.10 Td ( ) Tj ET Q q 0 0 0 rg BT 182.87 694.10 Td (to ) Tj ET Q q 0 0 0 rg BT 193.15 694.10 Td (satisfy ) Tj ET Q q 0 0 0 rg BT 221.76 694.10 Td (a ) Tj ET Q q 0 0 0 rg BT 228.70 694.10 Td (portion ) Tj ET Q q 0 0 0 rg BT 260.08 694.10 Td (of ) Tj ET Q q 0 0 0 rg BT 270.91 694.10 Td (the ) Tj ET Q q 0 0 0 rg BT 285.63 694.10 Td (guaranteed ) Tj ET Q q 0 0 0 rg BT 331.99 694.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 370.03 694.10 Td (price ) Tj ET Q q 0 0 0 rg BT 392.52 694.10 Td (payment ) Tj ET Q q 0 0 0 rg BT 429.45 694.10 Td (obligation ) Tj ET Q q 0 0 0 rg BT 472.50 694.10 Td (on ) Tj ET Q q 0 0 0 rg BT 485.00 694.10 Td (July ) Tj ET Q q 0 0 0 rg BT 504.17 694.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 519.17 694.10 Td (2015. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 670.10 Td (\(b\) ) Tj ET Q q 0 0 0 rg BT 100.16 670.10 Td ( ) Tj ET Q q 0 0 0 rg BT 104.00 670.10 Td (The ) Tj ET Q q 0 0 0 rg BT 121.31 670.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 136.94 670.10 Td (value ) Tj ET Q q 0 0 0 rg BT 160.36 670.10 Td (of ) Tj ET Q q 0 0 0 rg BT 170.45 670.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.43 670.10 Td ($5,500,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.43 670.10 Td ( ) Tj ET Q q 0 0 0 rg BT 231.19 670.10 Td (of ) Tj ET Q q 0 0 0 rg BT 241.28 670.10 Td (contingent ) Tj ET Q q 0 0 0 rg BT 285.25 670.10 Td (performance ) Tj ET Q q 0 0 0 rg BT 337.53 670.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 377.62 670.10 Td (described ) Tj ET Q q 0 0 0 rg BT 417.69 670.10 Td (above ) Tj ET Q q 0 0 0 rg BT 443.33 670.10 Td (was ) Tj ET Q q 0 0 0 rg BT 460.64 670.10 Td (calculated ) Tj ET Q q 0 0 0 rg BT 502.93 670.10 Td (using ) Tj ET Q q 0 0 0 rg BT 526.36 670.10 Td (a ) Tj ET Q q 0 0 0 rg BT 532.56 670.10 Td (Monte-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 658.10 Td (Carlo ) Tj ET Q q 0 0 0 rg BT 129.20 658.10 Td (simulation ) Tj ET Q q 0 0 0 rg BT 174.40 658.10 Td (to ) Tj ET Q q 0 0 0 rg BT 185.15 658.10 Td (simulate ) Tj ET Q q 0 0 0 rg BT 222.01 658.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 256.64 658.10 Td (over ) Tj ET Q q 0 0 0 rg BT 277.38 658.10 Td (the ) Tj ET Q q 0 0 0 rg BT 292.58 658.10 Td (next ) Tj ET Q q 0 0 0 rg BT 312.77 658.10 Td (three ) Tj ET Q q 0 0 0 rg BT 335.74 658.10 Td (years. ) Tj ET Q q 0 0 0 rg BT 362.32 658.10 Td ( ) Tj ET Q q 0 0 0 rg BT 365.29 658.10 Td (Since ) Tj ET Q q 0 0 0 rg BT 390.49 658.10 Td (the ) Tj ET Q q 0 0 0 rg BT 405.68 658.10 Td (contingent ) Tj ET Q q 0 0 0 rg BT 450.88 658.10 Td (consideration ) Tj ET Q q 0 0 0 rg BT 507.73 658.10 Td (has ) Tj ET Q q 0 0 0 rg BT 524.03 658.10 Td (an ) Tj ET Q q 0 0 0 rg BT 536.45 658.10 Td (option ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 646.10 Td (like ) Tj ET Q q 0 0 0 rg BT 120.90 646.10 Td (structure, ) Tj ET Q q 0 0 0 rg BT 160.30 646.10 Td (a ) Tj ET Q q 0 0 0 rg BT 166.64 646.10 Td (risk-neutral ) Tj ET Q q 0 0 0 rg BT 214.65 646.10 Td (framework ) Tj ET Q q 0 0 0 rg BT 260.42 646.10 Td (is ) Tj ET Q q 0 0 0 rg BT 269.00 646.10 Td (considered ) Tj ET Q q 0 0 0 rg BT 314.22 646.10 Td (appropriate ) Tj ET Q q 0 0 0 rg BT 361.66 646.10 Td (for ) Tj ET Q q 0 0 0 rg BT 375.23 646.10 Td (the ) Tj ET Q q 0 0 0 rg BT 389.36 646.10 Td (valuation. ) Tj ET Q q 0 0 0 rg BT 430.84 646.10 Td (The ) Tj ET Q q 0 0 0 rg BT 448.29 646.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 489.09 646.10 Td (started ) Tj ET Q q 0 0 0 rg BT 517.65 646.10 Td (with ) Tj ET Q q 0 0 0 rg BT 537.34 646.10 Td (a ) Tj ET Q q 0 0 0 rg BT 543.69 646.10 Td (risk-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 634.10 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 140.56 634.10 Td (measure ) Tj ET Q q 0 0 0 rg BT 177.11 634.10 Td (of ) Tj ET Q q 0 0 0 rg BT 188.68 634.10 Td (forecasted ) Tj ET Q q 0 0 0 rg BT 232.99 634.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 267.87 634.10 Td (\(using ) Tj ET Q q 0 0 0 rg BT 296.11 634.10 Td (a ) Tj ET Q q 0 0 0 rg BT 303.78 634.10 Td (risk-adjusted ) Tj ET Q q 0 0 0 rg BT 358.67 634.10 Td (discount ) Tj ET Q q 0 0 0 rg BT 395.79 634.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 414.01 634.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.58 634.10 Td (8.5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.41 634.10 Td (\) ) Tj ET Q q 0 0 0 rg BT 452.97 634.10 Td (and ) Tj ET Q q 0 0 0 rg BT 470.65 634.10 Td (assumed ) Tj ET Q q 0 0 0 rg BT 508.32 634.10 Td (it ) Tj ET Q q 0 0 0 rg BT 517.11 634.10 Td (will ) Tj ET Q q 0 0 0 rg BT 535.90 634.10 Td (follow ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 622.10 Td (geometric ) Tj ET Q q 0 0 0 rg BT 146.77 622.10 Td (brownian ) Tj ET Q q 0 0 0 rg BT 187.32 622.10 Td (motion ) Tj ET Q q 0 0 0 rg BT 218.44 622.10 Td (to ) Tj ET Q q 0 0 0 rg BT 229.00 622.10 Td (simulate ) Tj ET Q q 0 0 0 rg BT 265.67 622.10 Td (the ) Tj ET Q q 0 0 0 rg BT 280.67 622.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 315.10 622.10 Td (at ) Tj ET Q q 0 0 0 rg BT 325.10 622.10 Td (future ) Tj ET Q q 0 0 0 rg BT 351.76 622.10 Td (dates. ) Tj ET Q q 0 0 0 rg BT 377.59 622.10 Td ( ) Tj ET Q q 0 0 0 rg BT 380.38 622.10 Td (Once ) Tj ET Q q 0 0 0 rg BT 404.26 622.10 Td (the ) Tj ET Q q 0 0 0 rg BT 419.26 622.10 Td (initial ) Tj ET Q q 0 0 0 rg BT 445.38 622.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 479.81 622.10 Td (was ) Tj ET Q q 0 0 0 rg BT 498.14 622.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 539.25 622.10 Td (based ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 610.10 Td (of) Tj ET Q q 0 0 0 rg BT 112.15 610.10 Td (f ) Tj ET Q q 0 0 0 rg BT 117.46 610.10 Td (of ) Tj ET Q q 0 0 0 rg BT 127.77 610.10 Td (projections ) Tj ET Q q 0 0 0 rg BT 174.18 610.10 Td (made ) Tj ET Q q 0 0 0 rg BT 197.81 610.10 Td (during ) Tj ET Q q 0 0 0 rg BT 225.90 610.10 Td (the ) Tj ET Q q 0 0 0 rg BT 240.10 610.10 Td (acquisition, ) Tj ET Q q 0 0 0 rg BT 288.46 610.10 Td (payout ) Tj ET Q q 0 0 0 rg BT 317.65 610.10 Td (was ) Tj ET Q q 0 0 0 rg BT 335.19 610.10 Td (calculated ) Tj ET Q q 0 0 0 rg BT 377.69 610.10 Td (for ) Tj ET Q q 0 0 0 rg BT 391.33 610.10 Td (each ) Tj ET Q q 0 0 0 rg BT 411.63 610.10 Td (year ) Tj ET Q q 0 0 0 rg BT 430.81 610.10 Td (and ) Tj ET Q q 0 0 0 rg BT 447.23 610.10 Td (present ) Tj ET Q q 0 0 0 rg BT 478.08 610.10 Td (valued ) Tj ET Q q 0 0 0 rg BT 506.72 610.10 Td (to ) Tj ET Q q 0 0 0 rg BT 516.48 610.10 Td (incorporate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 598.10 Td (the ) Tj ET Q q 0 0 0 rg BT 119.21 598.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 144.97 598.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 162.97 598.10 Td (associated ) Tj ET Q q 0 0 0 rg BT 207.06 598.10 Td (with ) Tj ET Q q 0 0 0 rg BT 227.83 598.10 Td (these ) Tj ET Q q 0 0 0 rg BT 251.37 598.10 Td (payments. ) Tj ET Q q 0 0 0 rg BT 294.98 598.10 Td (The ) Tj ET Q q 0 0 0 rg BT 313.52 598.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 361.10 598.10 Td (initial ) Tj ET Q q 0 0 0 rg BT 387.42 598.10 Td (value ) Tj ET Q q 0 0 0 rg BT 412.07 598.10 Td (conclusion ) Tj ET Q q 0 0 0 rg BT 458.39 598.10 Td (was ) Tj ET Q q 0 0 0 rg BT 476.94 598.10 Td (based ) Tj ET Q q 0 0 0 rg BT 502.70 598.10 Td (on ) Tj ET Q q 0 0 0 rg BT 515.70 598.10 Td (the ) Tj ET Q q 0 0 0 rg BT 530.91 598.10 Td (average ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 586.10 Td (payment ) Tj ET Q q 0 0 0 rg BT 140.02 586.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 161.05 586.10 Td (100,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.55 586.10 Td ( ) Tj ET Q q 0 0 0 rg BT 195.14 586.10 Td (simulation ) Tj ET Q q 0 0 0 rg BT 238.95 586.10 Td (trials. ) Tj ET Q q 0 0 0 rg BT 263.03 586.10 Td ( ) Tj ET Q q 0 0 0 rg BT 264.50 586.10 Td (The ) Tj ET Q q 0 0 0 rg BT 281.64 586.10 Td (volatility ) Tj ET Q q 0 0 0 rg BT 319.34 586.10 Td (used ) Tj ET Q q 0 0 0 rg BT 339.25 586.10 Td (for ) Tj ET Q q 0 0 0 rg BT 352.50 586.10 Td (the ) Tj ET Q q 0 0 0 rg BT 366.31 586.10 Td (simulation ) Tj ET Q q 0 0 0 rg BT 410.12 586.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.26 586.10 Td (35%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.59 586.10 Td (. ) Tj ET Q q 0 0 0 rg BT 449.68 586.10 Td ( ) Tj ET Q q 0 0 0 rg BT 451.15 586.10 Td (The ) Tj ET Q q 0 0 0 rg BT 468.29 586.10 Td (Monte ) Tj ET Q q 0 0 0 rg BT 495.98 586.10 Td (Carlo ) Tj ET Q q 0 0 0 rg BT 519.79 586.10 Td (simulation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 574.10 Td (resulted ) Tj ET Q q 0 0 0 rg BT 137.88 574.10 Td (in ) Tj ET Q q 0 0 0 rg BT 147.89 574.10 Td (a ) Tj ET Q q 0 0 0 rg BT 154.56 574.10 Td (calculated ) Tj ET Q q 0 0 0 rg BT 197.32 574.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 213.42 574.10 Td (value ) Tj ET Q q 0 0 0 rg BT 237.31 574.10 Td (of ) Tj ET Q q 0 0 0 rg BT 247.86 574.10 Td (contingent ) Tj ET Q q 0 0 0 rg BT 292.31 574.10 Td (performance ) Tj ET Q q 0 0 0 rg BT 345.06 574.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 385.61 574.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.17 574.10 Td ($2,210,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.17 574.10 Td ( ) Tj ET Q q 0 0 0 rg BT 443.40 574.10 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.63 574.10 Td (January30, ) Tj ET Q q 0 0 0 rg BT 503.96 574.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.96 574.10 Td (. ) Tj ET Q q 0 0 0 rg BT 528.69 574.10 Td (Because ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 562.10 Td (the ) Tj ET Q q 0 0 0 rg BT 118.33 562.10 Td (contingent ) Tj ET Q q 0 0 0 rg BT 162.65 562.10 Td (performance ) Tj ET Q q 0 0 0 rg BT 215.28 562.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 255.71 562.10 Td (are ) Tj ET Q q 0 0 0 rg BT 270.03 562.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 300.46 562.10 Td (to ) Tj ET Q q 0 0 0 rg BT 310.35 562.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.89 562.10 Td (17%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.22 562.10 Td ( ) Tj ET Q q 0 0 0 rg BT 337.33 562.10 Td (reduction ) Tj ET Q q 0 0 0 rg BT 377.20 562.10 Td (related ) Tj ET Q q 0 0 0 rg BT 406.51 562.10 Td (to ) Tj ET Q q 0 0 0 rg BT 416.40 562.10 Td (the ) Tj ET Q q 0 0 0 rg BT 430.73 562.10 Td (continued ) Tj ET Q q 0 0 0 rg BT 472.27 562.10 Td (employment ) Tj ET Q q 0 0 0 rg BT 524.37 562.10 Td (of ) Tj ET Q q 0 0 0 rg BT 534.80 562.10 Td (certain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 550.10 Td (key ) Tj ET Q q 0 0 0 rg BT 120.96 550.10 Td (employees, ) Tj ET Q q 0 0 0 rg BT 168.19 550.10 Td (ASC ) Tj ET Q q 0 0 0 rg BT 190.17 550.10 Td (805-10-55-25 ) Tj ET Q q 0 0 0 rg BT 247.68 550.10 Td (indicates ) Tj ET Q q 0 0 0 rg BT 285.75 550.10 Td (that ) Tj ET Q q 0 0 0 rg BT 303.27 550.10 Td (a ) Tj ET Q q 0 0 0 rg BT 310.23 550.10 Td (portion ) Tj ET Q q 0 0 0 rg BT 341.64 550.10 Td (of ) Tj ET Q q 0 0 0 rg BT 352.49 550.10 Td (these ) Tj ET Q q 0 0 0 rg BT 375.56 550.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 416.41 550.10 Td (be ) Tj ET Q q 0 0 0 rg BT 428.37 550.10 Td (treated ) Tj ET Q q 0 0 0 rg BT 458.10 550.10 Td (as ) Tj ET Q q 0 0 0 rg BT 468.95 550.10 Td (potential ) Tj ET Q q 0 0 0 rg BT 506.47 550.10 Td (compensation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 538.10 Td (to ) Tj ET Q q 0 0 0 rg BT 114.15 538.10 Td (be ) Tj ET Q q 0 0 0 rg BT 125.96 538.10 Td (accrued ) Tj ET Q q 0 0 0 rg BT 159.41 538.10 Td (over ) Tj ET Q q 0 0 0 rg BT 179.55 538.10 Td (the ) Tj ET Q q 0 0 0 rg BT 194.14 538.10 Td (term ) Tj ET Q q 0 0 0 rg BT 214.83 538.10 Td (rather ) Tj ET Q q 0 0 0 rg BT 240.52 538.10 Td (than ) Tj ET Q q 0 0 0 rg BT 260.11 538.10 Td (allocated ) Tj ET Q q 0 0 0 rg BT 298.57 538.10 Td (to ) Tj ET Q q 0 0 0 rg BT 308.72 538.10 Td (the ) Tj ET Q q 0 0 0 rg BT 323.30 538.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 361.21 538.10 Td (price. ) Tj ET Q q 0 0 0 rg BT 386.07 538.10 Td ( ) Tj ET Q q 0 0 0 rg BT 388.27 538.10 Td (Therefore, ) Tj ET Q q 0 0 0 rg BT 432.55 538.10 Td (the ) Tj ET Q q 0 0 0 rg BT 447.14 538.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 488.40 538.10 Td (reduced ) Tj ET Q q 0 0 0 rg BT 522.41 538.10 Td (its ) Tj ET Q q 0 0 0 rg BT 534.23 538.10 Td (overall ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 526.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 143.27 526.10 Td (price ) Tj ET Q q 0 0 0 rg BT 167.00 526.10 Td (consideration ) Tj ET Q q 0 0 0 rg BT 224.61 526.10 Td (by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.35 526.10 Td ($357,700) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.85 526.10 Td ( ) Tj ET Q q 0 0 0 rg BT 279.58 526.10 Td (and ) Tj ET Q q 0 0 0 rg BT 297.76 526.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 336.47 526.10 Td (the ) Tj ET Q q 0 0 0 rg BT 352.43 526.10 Td (initial ) Tj ET Q q 0 0 0 rg BT 379.50 526.10 Td (present ) Tj ET Q q 0 0 0 rg BT 412.11 526.10 Td (value ) Tj ET Q q 0 0 0 rg BT 437.50 526.10 Td (of ) Tj ET Q q 0 0 0 rg BT 449.57 526.10 Td (the ) Tj ET Q q 0 0 0 rg BT 465.53 526.10 Td (contingent ) Tj ET Q q 0 0 0 rg BT 511.48 526.10 Td (performance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 514.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 144.49 514.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.88 514.10 Td ($1,834,300) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.88 514.10 Td (. ) Tj ET Q q 0 0 0 rg BT 203.54 514.10 Td (During ) Tj ET Q q 0 0 0 rg BT 234.04 514.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.42 514.10 Td (three ) Tj ET Q q 0 0 0 rg BT 270.58 514.10 Td (months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.02 514.10 Td ( ) Tj ET Q q 0 0 0 rg BT 302.19 514.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.24 514.10 Td (September30, ) Tj ET Q q 0 0 0 rg BT 388.17 514.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.17 514.10 Td (, ) Tj ET Q q 0 0 0 rg BT 412.83 514.10 Td (the ) Tj ET Q q 0 0 0 rg BT 427.22 514.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 468.27 514.10 Td (reassessed ) Tj ET Q q 0 0 0 rg BT 512.09 514.10 Td (the ) Tj ET Q q 0 0 0 rg BT 526.47 514.10 Td (expected ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 502.10 Td (revenues ) Tj ET Q q 0 0 0 rg BT 141.84 502.10 Td (to ) Tj ET Q q 0 0 0 rg BT 151.92 502.10 Td (be ) Tj ET Q q 0 0 0 rg BT 163.67 502.10 Td (produced ) Tj ET Q q 0 0 0 rg BT 203.18 502.10 Td (from ) Tj ET Q q 0 0 0 rg BT 224.92 502.10 Td (Content ) Tj ET Q q 0 0 0 rg BT 258.89 502.10 Td (Revenues ) Tj ET Q q 0 0 0 rg BT 300.07 502.10 Td (over ) Tj ET Q q 0 0 0 rg BT 320.14 502.10 Td (the ) Tj ET Q q 0 0 0 rg BT 334.66 502.10 Td (next ) Tj ET Q q 0 0 0 rg BT 354.18 502.10 Td (three ) Tj ET Q q 0 0 0 rg BT 376.47 502.10 Td (years. ) Tj ET Q q 0 0 0 rg BT 402.37 502.10 Td ( ) Tj ET Q q 0 0 0 rg BT 404.51 502.10 Td (The ) Tj ET Q q 0 0 0 rg BT 422.36 502.10 Td (revised ) Tj ET Q q 0 0 0 rg BT 453.54 502.10 Td (Content ) Tj ET Q q 0 0 0 rg BT 487.51 502.10 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 524.80 502.10 Td (estimates ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 490.10 Td (are ) Tj ET Q q 0 0 0 rg BT 119.11 490.10 Td (below ) Tj ET Q q 0 0 0 rg BT 146.45 490.10 Td (90% ) Tj ET Q q 0 0 0 rg BT 167.68 490.10 Td (of ) Tj ET Q q 0 0 0 rg BT 178.92 490.10 Td (the ) Tj ET Q q 0 0 0 rg BT 194.04 490.10 Td (required ) Tj ET Q q 0 0 0 rg BT 230.25 490.10 Td (Content ) Tj ET Q q 0 0 0 rg BT 264.82 490.10 Td (Revenues ) Tj ET Q q 0 0 0 rg BT 306.60 490.10 Td (tar) Tj ET Q q 0 0 0 rg BT 316.97 490.10 Td (gets. ) Tj ET Q q 0 0 0 rg BT 338.48 490.10 Td ( ) Tj ET Q q 0 0 0 rg BT 341.17 490.10 Td (The ) Tj ET Q q 0 0 0 rg BT 359.62 490.10 Td (Monte ) Tj ET Q q 0 0 0 rg BT 388.63 490.10 Td (Carlo ) Tj ET Q q 0 0 0 rg BT 413.75 490.10 Td (simulation ) Tj ET Q q 0 0 0 rg BT 458.88 490.10 Td (as ) Tj ET Q q 0 0 0 rg BT 470.11 490.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.34 490.10 Td (September30, ) Tj ET Q q 0 0 0 rg BT 542.01 490.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 562.01 490.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 478.10 Td (with ) Tj ET Q q 0 0 0 rg BT 125.10 478.10 Td (these ) Tj ET Q q 0 0 0 rg BT 148.97 478.10 Td (revised ) Tj ET Q q 0 0 0 rg BT 181.17 478.10 Td (projections ) Tj ET Q q 0 0 0 rg BT 228.93 478.10 Td (resulted ) Tj ET Q q 0 0 0 rg BT 263.90 478.10 Td (in ) Tj ET Q q 0 0 0 rg BT 275.01 478.10 Td (a ) Tj ET Q q 0 0 0 rg BT 282.77 478.10 Td (revised ) Tj ET Q q 0 0 0 rg BT 314.97 478.10 Td (calculated ) Tj ET Q q 0 0 0 rg BT 358.82 478.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 376.02 478.10 Td (value ) Tj ET Q q 0 0 0 rg BT 400.99 478.10 Td (of ) Tj ET Q q 0 0 0 rg BT 412.65 478.10 Td (contingent ) Tj ET Q q 0 0 0 rg BT 458.18 478.10 Td (performance ) Tj ET Q q 0 0 0 rg BT 512.03 478.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 553.68 478.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 466.10 Td ($100,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.50 466.10 Td (. ) Tj ET Q q 0 0 0 rg BT 146.84 466.10 Td ( ) Tj ET Q q 0 0 0 rg BT 149.47 466.10 Td (The ) Tj ET Q q 0 0 0 rg BT 167.86 466.10 Td (gain ) Tj ET Q q 0 0 0 rg BT 187.91 466.10 Td (as ) Tj ET Q q 0 0 0 rg BT 199.08 466.10 Td (a ) Tj ET Q q 0 0 0 rg BT 206.36 466.10 Td (result ) Tj ET Q q 0 0 0 rg BT 231.41 466.10 Td (of ) Tj ET Q q 0 0 0 rg BT 242.58 466.10 Td (the ) Tj ET Q q 0 0 0 rg BT 257.64 466.10 Td (decrease ) Tj ET Q q 0 0 0 rg BT 294.89 466.10 Td (in ) Tj ET Q q 0 0 0 rg BT 305.50 466.10 Td (the ) Tj ET Q q 0 0 0 rg BT 320.56 466.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 361.72 466.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 378.43 466.10 Td (value ) Tj ET Q q 0 0 0 rg BT 402.93 466.10 Td (of ) Tj ET Q q 0 0 0 rg BT 414.10 466.10 Td (contingent ) Tj ET Q q 0 0 0 rg BT 459.15 466.10 Td (performance ) Tj ET Q q 0 0 0 rg BT 512.51 466.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 553.67 466.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 454.10 Td ($1,734,300) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.00 454.10 Td ( ) Tj ET Q q 0 0 0 rg BT 150.40 454.10 Td (is ) Tj ET Q q 0 0 0 rg BT 158.48 454.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 194.85 454.10 Td (as ) Tj ET Q q 0 0 0 rg BT 204.59 454.10 Td (a ) Tj ET Q q 0 0 0 rg BT 210.43 454.10 Td (reduction ) Tj ET Q q 0 0 0 rg BT 249.59 454.10 Td (of ) Tj ET Q q 0 0 0 rg BT 259.33 454.10 Td (general ) Tj ET Q q 0 0 0 rg BT 290.15 454.10 Td (and ) Tj ET Q q 0 0 0 rg BT 306.00 454.10 Td (administrative ) Tj ET Q q 0 0 0 rg BT 364.61 454.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 398.22 454.10 Td (in ) Tj ET Q q 0 0 0 rg BT 407.40 454.10 Td (the ) Tj ET Q q 0 0 0 rg BT 421.02 454.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 467.00 454.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 510.61 454.10 Td (of ) Tj ET Q q 0 0 0 rg BT 520.35 454.10 Td (operations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 442.10 Td (during ) Tj ET Q q 0 0 0 rg BT 132.61 442.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.33 442.10 Td (three ) Tj ET Q q 0 0 0 rg BT 169.81 442.10 Td (and ) Tj ET Q q 0 0 0 rg BT 186.75 442.10 Td (nine ) Tj ET Q q 0 0 0 rg BT 206.47 442.10 Td (months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.91 442.10 Td ( ) Tj ET Q q 0 0 0 rg BT 238.41 442.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.79 442.10 Td (September30, ) Tj ET Q q 0 0 0 rg BT 325.05 442.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.05 442.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 430.10 Td (\(c\) ) Tj ET Q q 0 0 0 rg BT 104.00 430.10 Td (According ) Tj ET Q q 0 0 0 rg BT 148.44 430.10 Td (to ) Tj ET Q q 0 0 0 rg BT 158.44 430.10 Td (the ) Tj ET Q q 0 0 0 rg BT 172.89 430.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 196.22 430.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 233.99 430.10 Td (agreement, ) Tj ET Q q 0 0 0 rg BT 280.36 430.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 309.79 430.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 355.90 430.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 378.12 430.10 Td (paid ) Tj ET Q q 0 0 0 rg BT 397.57 430.10 Td (by ) Tj ET Q q 0 0 0 rg BT 409.80 430.10 Td (Ebyline ) Tj ET Q q 0 0 0 rg BT 443.13 430.10 Td (during ) Tj ET Q q 0 0 0 rg BT 471.47 430.10 Td (the ) Tj ET Q q 0 0 0 rg BT 485.91 430.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 532.02 430.10 Td (process ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 418.10 Td (are ) Tj ET Q q 0 0 0 rg BT 119.03 418.10 Td (to ) Tj ET Q q 0 0 0 rg BT 129.63 418.10 Td (be ) Tj ET Q q 0 0 0 rg BT 141.89 418.10 Td (paid ) Tj ET Q q 0 0 0 rg BT 161.93 418.10 Td (by ) Tj ET Q q 0 0 0 rg BT 174.75 418.10 Td (the ) Tj ET Q q 0 0 0 rg BT 189.79 418.10 Td (selling ) Tj ET Q q 0 0 0 rg BT 219.28 418.10 Td (shareholders. ) Tj ET Q q 0 0 0 rg BT 275.14 418.10 Td ( ) Tj ET Q q 0 0 0 rg BT 277.76 418.10 Td (These ) Tj ET Q q 0 0 0 rg BT 304.46 418.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 327.28 418.10 Td (will ) Tj ET Q q 0 0 0 rg BT 345.66 418.10 Td (be ) Tj ET Q q 0 0 0 rg BT 357.92 418.10 Td (deducted ) Tj ET Q q 0 0 0 rg BT 396.83 418.10 Td (from ) Tj ET Q q 0 0 0 rg BT 419.09 418.10 Td (the ) Tj ET Q q 0 0 0 rg BT 434.13 418.10 Td (guaranteed ) Tj ET Q q 0 0 0 rg BT 480.82 418.10 Td (payment ) Tj ET Q q 0 0 0 rg BT 518.07 418.10 Td (on ) Tj ET Q q 0 0 0 rg BT 530.90 418.10 Td (January ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 406.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 119.00 406.10 Td (2016.) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 50 387.53505859375 m 159.794921875 387.53505859375 l s q 0 0 0 rg BT 50.00 389.10 Td (Pur) Tj ET Q q 0 0 0 rg BT 65.93 389.10 Td (chase Price ) Tj ET Q q 0 0 0 rg BT 115.91 389.10 Td (Allocation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 371.10 Td (The preliminary allocation of the purchase price as of January 30, 2015 is summarized as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 335.60 422.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 335.60 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 307.60 422.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 307.60 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 279.60 422.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 279.60 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 251.60 422.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 251.60 90.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 335.6 m 472.5 335.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 335.6 m 562.5 335.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 335.6 m 472.5 335.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 335.6 m 562.5 335.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 251.60000000000002 m 562.5 251.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 251.60000000000002 m 562.5 251.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 238.60000000000002 m 562.5 238.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 236.60000000000002 m 562.5 236.60000000000002 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.75 350.27 Td (Initial Purchase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.60 340.27 Td (Price Allocation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 326.17 Td (Current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.00 326.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 326.17 Td (738,279) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 312.17 Td (Property and equipment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 312.17 Td (27,194) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 298.17 Td (Identifiable intangible assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 298.17 Td (2,370,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 284.17 Td (Goodwill) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 284.17 Td (2,468,289) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 270.17 Td (Security deposits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 270.17 Td (18,553) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 256.17 Td (Current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.80 256.22 Td (\(605,376) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 256.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.00 242.17 Td (Total estimated consideration) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.00 242.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 242.17 Td (5,016,939) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 50 207.53505859375002 m 182.5341796875 207.53505859375002 l s q 0 0 0 rg BT 50.00 209.10 Td (Intangible ) Tj ET Q q 0 0 0 rg BT 95.85 209.10 Td (Assets and Goodwill) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 191.10 Td (The ) Tj ET Q q 0 0 0 rg BT 68.05 191.10 Td (identifiable ) Tj ET Q q 0 0 0 rg BT 116.08 191.10 Td (intangible ) Tj ET Q q 0 0 0 rg BT 158.57 191.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 184.40 191.10 Td (in ) Tj ET Q q 0 0 0 rg BT 194.68 191.10 Td (the ) Tj ET Q q 0 0 0 rg BT 209.40 191.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 247.44 191.10 Td (price ) Tj ET Q q 0 0 0 rg BT 269.92 191.10 Td (allocation ) Tj ET Q q 0 0 0 rg BT 311.85 191.10 Td (consist ) Tj ET Q q 0 0 0 rg BT 342.13 191.10 Td (of ) Tj ET Q q 0 0 0 rg BT 352.96 191.10 Td (the ) Tj ET Q q 0 0 0 rg BT 367.68 191.10 Td (following ) Tj ET Q q 0 0 0 rg BT 409.06 191.10 Td (assets: ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 140.60 257.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.50 140.60 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 140.60 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.50 140.60 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 140.60 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 112.60 257.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.50 112.60 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 112.60 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.50 112.60 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 112.60 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 84.60 257.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.50 84.60 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.50 84.60 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.50 84.60 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.50 84.60 45.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 140.60000000000002 m 306.5 140.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 306.5 140.60000000000002 m 376.5 140.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376.5 140.60000000000002 m 446.5 140.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 446.5 140.60000000000002 m 516.5 140.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 140.60000000000002 m 561.5 140.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 140.60000000000002 m 306.5 140.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 306.5 140.60000000000002 m 376.5 140.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376.5 140.60000000000002 m 446.5 140.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 446.5 140.60000000000002 m 516.5 140.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516.5 140.60000000000002 m 561.5 140.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 306.5 70.60000000000002 m 376.5 70.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376.5 70.60000000000002 m 446.5 70.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 306.5 70.60000000000002 m 376.5 70.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 306.5 57.60000000000002 m 376.5 57.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 306.5 55.60000000000002 m 376.5 55.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376.5 70.60000000000002 m 446.5 70.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376.5 57.60000000000002 m 446.5 57.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376.5 55.60000000000002 m 446.5 55.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 446.5 70.60000000000002 m 516.5 70.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 446.5 57.60000000000002 m 516.5 57.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 446.5 55.60000000000002 m 516.5 55.60000000000002 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.30 170.27 Td (Accumulated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.30 160.27 Td (Amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 160.27 Td (Net Book Value) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 165.27 Td (Useful) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 155.27 Td (Life) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.45 145.27 Td (\(in years\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 145.27 Td (Identifiable Intangible Asset) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.50 145.27 Td (Initial Value) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.70 145.27 Td (9/30/2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.70 145.27 Td (9/30/2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 131.17 Td (Content provider network) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.00 131.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.15 131.17 Td (30,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.15 131.17 Td (20,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 131.17 Td (10,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.00 131.17 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 117.17 Td (Ebyline trade name) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.15 117.17 Td (40,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.15 117.17 Td (26,666) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 117.17 Td (13,334) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.00 117.17 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 103.17 Td (Workflow customers) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.15 103.17 Td (210,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.15 103.17 Td (70,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.15 103.17 Td (140,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.00 103.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 89.17 Td (Developed technology) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.15 89.17 Td (300,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.15 89.17 Td (40,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.15 89.17 Td (260,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.00 89.17 Td (5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 75.17 Td (Virtual Newsroom customers) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.65 75.17 Td (1,790,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 75.17 Td (238,667) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 75.17 Td (1,551,333) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.00 75.17 Td (5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 61.17 Td (Total identifiable intangible assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.00 61.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.65 61.17 Td (2,370,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.00 61.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 61.17 Td (395,333) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.00 61.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 61.17 Td (1,974,667) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 29 0 obj <> endobj 30 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 283.05 772.75 Td (IZEA, Inc.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 181.55 760.75 Td (Notes to the Unaudited Consolidated Financial Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (The ) Tj ET Q q 0 0 0 rg BT 68.28 742.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 109.90 742.10 Td (is ) Tj ET Q q 0 0 0 rg BT 119.30 742.10 Td (amortizing ) Tj ET Q q 0 0 0 rg BT 165.35 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 180.30 742.10 Td (identifiable ) Tj ET Q q 0 0 0 rg BT 228.56 742.10 Td (intangible ) Tj ET Q q 0 0 0 rg BT 271.28 742.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 297.35 742.10 Td (over ) Tj ET Q q 0 0 0 rg BT 317.85 742.10 Td (a ) Tj ET Q q 0 0 0 rg BT 325.01 742.10 Td (weighted ) Tj ET Q q 0 0 0 rg BT 364.40 742.10 Td (average ) Tj ET Q q 0 0 0 rg BT 398.22 742.10 Td (period ) Tj ET Q q 0 0 0 rg BT 426.49 742.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.55 742.10 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.55 742.10 Td ( ) Tj ET Q q 0 0 0 rg BT 445.29 742.10 Td (years. ) Tj ET Q q 0 0 0 rg BT 471.62 742.10 Td ( ) Tj ET Q q 0 0 0 rg BT 473.74 742.10 Td (Amortization ) Tj ET Q q 0 0 0 rg BT 529.79 742.10 Td (expense ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (on ) Tj ET Q q 0 0 0 rg BT 63.74 730.10 Td (the ) Tj ET Q q 0 0 0 rg BT 79.69 730.10 Td (identifiable ) Tj ET Q q 0 0 0 rg BT 128.96 730.10 Td (intangible ) Tj ET Q q 0 0 0 rg BT 172.69 730.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 199.76 730.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 223.50 730.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 262.21 730.10 Td (in ) Tj ET Q q 0 0 0 rg BT 273.72 730.10 Td (general ) Tj ET Q q 0 0 0 rg BT 306.88 730.10 Td (and ) Tj ET Q q 0 0 0 rg BT 325.06 730.10 Td (administrative ) Tj ET Q q 0 0 0 rg BT 386.00 730.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 421.95 730.10 Td (in ) Tj ET Q q 0 0 0 rg BT 433.46 730.10 Td (the ) Tj ET Q q 0 0 0 rg BT 449.42 730.10 Td (accompanying ) Tj ET Q q 0 0 0 rg BT 511.46 730.10 Td (consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 94.71 718.10 Td (of ) Tj ET Q q 0 0 0 rg BT 105.54 718.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 149.70 718.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.75 718.10 Td ($148,250) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.25 718.10 Td ( ) Tj ET Q q 0 0 0 rg BT 207.75 718.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.69 718.10 Td ($395,333) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.19 718.10 Td ( ) Tj ET Q q 0 0 0 rg BT 264.69 718.10 Td (for ) Tj ET Q q 0 0 0 rg BT 278.85 718.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.56 718.10 Td (three ) Tj ET Q q 0 0 0 rg BT 316.05 718.10 Td (and ) Tj ET Q q 0 0 0 rg BT 332.99 718.10 Td (nine ) Tj ET Q q 0 0 0 rg BT 352.71 718.10 Td (months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.15 718.10 Td ( ) Tj ET Q q 0 0 0 rg BT 384.65 718.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.03 718.10 Td (September30, ) Tj ET Q q 0 0 0 rg BT 471.29 718.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.29 718.10 Td (.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 692.60 432.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 692.60 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 662.60 432.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 662.60 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 632.60 432.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 632.60 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 602.60 432.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 602.60 80.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 692.6 m 482.5 692.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 692.6 m 562.5 692.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 692.6 m 482.5 692.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 692.6 m 562.5 692.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 602.6 m 562.5 602.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 602.6 m 562.5 602.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 588.6 m 562.5 588.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 586.6 m 562.5 586.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 697.27 Td (The estimated amortization expense for future years is as follows:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.00 682.27 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.00 682.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 682.27 Td (543,583) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.00 667.27 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 667.27 Td (528,834) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.00 652.27 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 652.27 Td (426,750) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.00 637.27 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 637.27 Td (418,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.00 622.27 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 622.27 Td (418,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.35 607.27 Td (Thereafter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 607.27 Td (34,833) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.55 592.27 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.00 592.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 592.27 Td (2,370,000) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 564.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.17 564.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 107.68 564.10 Td (has ) Tj ET Q q 0 0 0 rg BT 122.63 564.10 Td (recorded ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.22 564.10 Td ($2,468,289) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.22 564.10 Td ( ) Tj ET Q q 0 0 0 rg BT 205.84 564.10 Td (in ) Tj ET Q q 0 0 0 rg BT 215.24 564.10 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 252.42 564.10 Td (from ) Tj ET Q q 0 0 0 rg BT 273.48 564.10 Td (the ) Tj ET Q q 0 0 0 rg BT 287.32 564.10 Td (Ebyline ) Tj ET Q q 0 0 0 rg BT 320.04 564.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 365.55 564.10 Td (as ) Tj ET Q q 0 0 0 rg BT 375.50 564.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.45 564.10 Td (September30, ) Tj ET Q q 0 0 0 rg BT 444.83 564.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.83 564.10 Td (. ) Tj ET Q q 0 0 0 rg BT 468.96 564.10 Td ( ) Tj ET Q q 0 0 0 rg BT 470.46 564.10 Td (This ) Tj ET Q q 0 0 0 rg BT 489.86 564.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 521.47 564.10 Td (represents ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 552.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.69 552.10 Td (excess ) Tj ET Q q 0 0 0 rg BT 93.26 552.10 Td (of ) Tj ET Q q 0 0 0 rg BT 104.06 552.10 Td (the ) Tj ET Q q 0 0 0 rg BT 118.75 552.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 156.75 552.10 Td (consideration ) Tj ET Q q 0 0 0 rg BT 213.10 552.10 Td (of ) Tj ET Q q 0 0 0 rg BT 223.90 552.10 Td (an ) Tj ET Q q 0 0 0 rg BT 235.81 552.10 Td (acquired ) Tj ET Q q 0 0 0 rg BT 272.70 552.10 Td (business ) Tj ET Q q 0 0 0 rg BT 309.06 552.10 Td (over ) Tj ET Q q 0 0 0 rg BT 329.30 552.10 Td (the ) Tj ET Q q 0 0 0 rg BT 343.99 552.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 360.34 552.10 Td (value ) Tj ET Q q 0 0 0 rg BT 384.46 552.10 Td (of ) Tj ET Q q 0 0 0 rg BT 395.26 552.10 Td (the ) Tj ET Q q 0 0 0 rg BT 409.95 552.10 Td (underlying ) Tj ET Q q 0 0 0 rg BT 455.75 552.10 Td (net ) Tj ET Q q 0 0 0 rg BT 470.43 552.10 Td (tangible ) Tj ET Q q 0 0 0 rg BT 505.12 552.10 Td (and ) Tj ET Q q 0 0 0 rg BT 522.03 552.10 Td (intangible ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 540.10 Td (assets. ) Tj ET Q q 0 0 0 rg BT 78.13 540.10 Td ( ) Tj ET Q q 0 0 0 rg BT 80.44 540.10 Td ( ) Tj ET Q q 0 0 0 rg BT 82.57 540.10 Td (There ) Tj ET Q q 0 0 0 rg BT 108.19 540.10 Td (are ) Tj ET Q q 0 0 0 rg BT 122.70 540.10 Td (many ) Tj ET Q q 0 0 0 rg BT 147.23 540.10 Td (syner) Tj ET Q q 0 0 0 rg BT 168.70 540.10 Td (gies ) Tj ET Q q 0 0 0 rg BT 187.12 540.10 Td (between ) Tj ET Q q 0 0 0 rg BT 222.74 540.10 Td (the ) Tj ET Q q 0 0 0 rg BT 237.26 540.10 Td (business ) Tj ET Q q 0 0 0 rg BT 273.45 540.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 317.41 540.10 Td (of ) Tj ET Q q 0 0 0 rg BT 328.04 540.10 Td (Ebyline ) Tj ET Q q 0 0 0 rg BT 361.45 540.10 Td (and ) Tj ET Q q 0 0 0 rg BT 378.19 540.10 Td (IZEA) Tj ET Q q 0 0 0 rg BT 400.41 540.10 Td ( ) Tj ET Q q 0 0 0 rg BT 402.71 540.10 Td (including ) Tj ET Q q 0 0 0 rg BT 442.79 540.10 Td (a ) Tj ET Q q 0 0 0 rg BT 449.53 540.10 Td (database ) Tj ET Q q 0 0 0 rg BT 486.26 540.10 Td (of ) Tj ET Q q 0 0 0 rg BT 496.90 540.10 Td (creators ) Tj ET Q q 0 0 0 rg BT 530.84 540.10 Td (that ) Tj ET Q q 0 0 0 rg BT 548.14 540.10 Td (can ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 528.10 Td (provide ) Tj ET Q q 0 0 0 rg BT 82.15 528.10 Td (content ) Tj ET Q q 0 0 0 rg BT 113.19 528.10 Td (and ) Tj ET Q q 0 0 0 rg BT 129.24 528.10 Td (advertising ) Tj ET Q q 0 0 0 rg BT 175.27 528.10 Td (and ) Tj ET Q q 0 0 0 rg BT 191.32 528.10 Td (syner) Tj ET Q q 0 0 0 rg BT 212.80 528.10 Td (gies ) Tj ET Q q 0 0 0 rg BT 230.51 528.10 Td (between ) Tj ET Q q 0 0 0 rg BT 265.43 528.10 Td (our ) Tj ET Q q 0 0 0 rg BT 280.37 528.10 Td (online ) Tj ET Q q 0 0 0 rg BT 306.97 528.10 Td (marketplaces ) Tj ET Q q 0 0 0 rg BT 361.32 528.10 Td (that ) Tj ET Q q 0 0 0 rg BT 377.92 528.10 Td (appeal ) Tj ET Q q 0 0 0 rg BT 405.62 528.10 Td (to ) Tj ET Q q 0 0 0 rg BT 415.01 528.10 Td (customers ) Tj ET Q q 0 0 0 rg BT 457.16 528.10 Td (on ) Tj ET Q q 0 0 0 rg BT 468.76 528.10 Td (both ) Tj ET Q q 0 0 0 rg BT 488.15 528.10 Td (sides. ) Tj ET Q q 0 0 0 rg BT 512.25 528.10 Td ( ) Tj ET Q q 0 0 0 rg BT 513.74 528.10 Td (The ) Tj ET Q q 0 0 0 rg BT 530.90 528.10 Td (Ebyline ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 516.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 94.57 516.10 Td (contributed ) Tj ET Q q 0 0 0 rg BT 143.04 516.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 177.60 516.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.85 516.10 Td ($2,173,617) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.85 516.10 Td ( ) Tj ET Q q 0 0 0 rg BT 236.77 516.10 Td (and ) Tj ET Q q 0 0 0 rg BT 254.13 516.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 278.16 516.10 Td (profit ) Tj ET Q q 0 0 0 rg BT 303.29 516.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.54 516.10 Td ($243,525) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.04 516.10 Td ( ) Tj ET Q q 0 0 0 rg BT 354.96 516.10 Td (in ) Tj ET Q q 0 0 0 rg BT 365.66 516.10 Td (the ) Tj ET Q q 0 0 0 rg BT 380.79 516.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 434.25 516.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 479.39 516.10 Td (of ) Tj ET Q q 0 0 0 rg BT 490.63 516.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 535.21 516.10 Td (for ) Tj ET Q q 0 0 0 rg BT 549.79 516.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 504.10 Td (three ) Tj ET Q q 0 0 0 rg BT 72.11 504.10 Td (months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.56 504.10 Td ( ) Tj ET Q q 0 0 0 rg BT 103.69 504.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.69 504.10 Td (September30, ) Tj ET Q q 0 0 0 rg BT 189.59 504.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.59 504.10 Td (. ) Tj ET Q q 0 0 0 rg BT 214.21 504.10 Td ( ) Tj ET Q q 0 0 0 rg BT 216.19 504.10 Td (The ) Tj ET Q q 0 0 0 rg BT 233.86 504.10 Td (Ebyline ) Tj ET Q q 0 0 0 rg BT 267.09 504.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 310.88 504.10 Td (contributed ) Tj ET Q q 0 0 0 rg BT 358.55 504.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 392.32 504.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.78 504.10 Td ($5,704,622) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.78 504.10 Td ( ) Tj ET Q q 0 0 0 rg BT 449.91 504.10 Td (and ) Tj ET Q q 0 0 0 rg BT 466.47 504.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 489.71 504.10 Td (profit ) Tj ET Q q 0 0 0 rg BT 514.06 504.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.52 504.10 Td ($624,919) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 562.02 504.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 492.10 Td (in ) Tj ET Q q 0 0 0 rg BT 60.28 492.10 Td (the ) Tj ET Q q 0 0 0 rg BT 75.00 492.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 128.04 492.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 172.75 492.10 Td (of ) Tj ET Q q 0 0 0 rg BT 183.58 492.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 227.73 492.10 Td (for ) Tj ET Q q 0 0 0 rg BT 241.89 492.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.61 492.10 Td (nine ) Tj ET Q q 0 0 0 rg BT 276.33 492.10 Td (months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.78 492.10 Td ( ) Tj ET Q q 0 0 0 rg BT 308.28 492.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 492.10 Td (September30, ) Tj ET Q q 0 0 0 rg BT 394.92 492.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.92 492.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 468.10 Td (NOTE ) Tj ET Q q 0 0 0 rg BT 80.84 468.10 Td (3. ) Tj ET Q q 0 0 0 rg BT 122.00 468.10 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 158.40 468.10 Td (P) Tj ET Q q 0 0 0 rg BT 163.77 468.10 Td (A) Tj ET Q q 0 0 0 rg BT 170.07 468.10 Td (Y) Tj ET Q q 0 0 0 rg BT 176.38 468.10 Td (ABLE) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 50 442.53505859375 m 183.232421875 442.53505859375 l s q 0 0 0 rg BT 50.00 444.10 Td (Bridge ) Tj ET Q q 0 0 0 rg BT 81.39 444.10 Td (Bank ) Tj ET Q q 0 0 0 rg BT 106.68 444.10 Td (Cr) Tj ET Q q 0 0 0 rg BT 118.16 444.10 Td (edit ) Tj ET Q q 0 0 0 rg BT 136.22 444.10 Td (Agr) Tj ET Q q 0 0 0 rg BT 152.70 444.10 Td (eement) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 432.10 Td (On ) Tj ET Q q 0 0 0 rg BT 64.51 432.10 Td (March ) Tj ET Q q 0 0 0 rg BT 92.90 432.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 102.68 432.10 Td (2013, ) Tj ET Q q 0 0 0 rg BT 127.47 432.10 Td (the ) Tj ET Q q 0 0 0 rg BT 141.98 432.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 183.15 432.10 Td (entered ) Tj ET Q q 0 0 0 rg BT 214.86 432.10 Td (into ) Tj ET Q q 0 0 0 rg BT 232.71 432.10 Td (a ) Tj ET Q q 0 0 0 rg BT 239.43 432.10 Td (secured ) Tj ET Q q 0 0 0 rg BT 272.26 432.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 297.31 432.10 Td (facility ) Tj ET Q q 0 0 0 rg BT 327.92 432.10 Td (agreement ) Tj ET Q q 0 0 0 rg BT 371.84 432.10 Td (with ) Tj ET Q q 0 0 0 rg BT 391.91 432.10 Td (Bridge ) Tj ET Q q 0 0 0 rg BT 421.41 432.10 Td (Bank, ) Tj ET Q q 0 0 0 rg BT 447.31 432.10 Td (N.A. ) Tj ET Q q 0 0 0 rg BT 469.04 432.10 Td (of ) Tj ET Q q 0 0 0 rg BT 479.66 432.10 Td (San ) Tj ET Q q 0 0 0 rg BT 496.95 432.10 Td (Jose, ) Tj ET Q q 0 0 0 rg BT 518.96 432.10 Td (California, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 420.10 Td (and ) Tj ET Q q 0 0 0 rg BT 67.20 420.10 Td (expanded ) Tj ET Q q 0 0 0 rg BT 108.27 420.10 Td (this ) Tj ET Q q 0 0 0 rg BT 125.48 420.10 Td (facility ) Tj ET Q q 0 0 0 rg BT 156.56 420.10 Td (with ) Tj ET Q q 0 0 0 rg BT 177.10 420.10 Td (an ) Tj ET Q q 0 0 0 rg BT 189.30 420.10 Td (agreement ) Tj ET Q q 0 0 0 rg BT 233.70 420.10 Td (on ) Tj ET Q q 0 0 0 rg BT 245.85 420.10 Td (April ) Tj ET Q q 0 0 0 rg BT 269.72 420.10 Td (13, ) Tj ET Q q 0 0 0 rg BT 284.98 420.10 Td (2015. ) Tj ET Q q 0 0 0 rg BT 310.24 420.10 Td (Pursuant ) Tj ET Q q 0 0 0 rg BT 348.00 420.10 Td (to ) Tj ET Q q 0 0 0 rg BT 358.54 420.10 Td (this ) Tj ET Q q 0 0 0 rg BT 375.75 420.10 Td (agreement, ) Tj ET Q q 0 0 0 rg BT 422.65 420.10 Td (the ) Tj ET Q q 0 0 0 rg BT 437.63 420.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 479.27 420.10 Td (may ) Tj ET Q q 0 0 0 rg BT 499.25 420.10 Td (submit ) Tj ET Q q 0 0 0 rg BT 529.24 420.10 Td (requests ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 408.10 Td (for ) Tj ET Q q 0 0 0 rg BT 64.33 408.10 Td (funding ) Tj ET Q q 0 0 0 rg BT 98.11 408.10 Td (up ) Tj ET Q q 0 0 0 rg BT 110.77 408.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 121.22 408.10 Td (80%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 139.55 408.10 Td ( ) Tj ET Q q 0 0 0 rg BT 142.22 408.10 Td (of ) Tj ET Q q 0 0 0 rg BT 153.22 408.10 Td (its ) Tj ET Q q 0 0 0 rg BT 165.33 408.10 Td (eligible ) Tj ET Q q 0 0 0 rg BT 197.99 408.10 Td (accounts ) Tj ET Q q 0 0 0 rg BT 235.65 408.10 Td (receivable ) Tj ET Q q 0 0 0 rg BT 279.39 408.10 Td (up ) Tj ET Q q 0 0 0 rg BT 292.06 408.10 Td (to ) Tj ET Q q 0 0 0 rg BT 302.51 408.10 Td (a ) Tj ET Q q 0 0 0 rg BT 309.62 408.10 Td (maximum ) Tj ET Q q 0 0 0 rg BT 352.84 408.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 378.27 408.10 Td (limit ) Tj ET Q q 0 0 0 rg BT 399.83 408.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.83 408.10 Td ($5 ) Tj ET Q q 0 0 0 rg BT 423.50 408.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.39 408.10 Td (. ) Tj ET Q q 0 0 0 rg BT 457.36 408.10 Td (This ) Tj ET Q q 0 0 0 rg BT 477.81 408.10 Td (agreement ) Tj ET Q q 0 0 0 rg BT 522.12 408.10 Td (is ) Tj ET Q q 0 0 0 rg BT 531.46 408.10 Td (secured ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 396.10 Td (by ) Tj ET Q q 0 0 0 rg BT 62.69 396.10 Td (the ) Tj ET Q q 0 0 0 rg BT 77.60 396.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 124.88 396.10 Td (accounts ) Tj ET Q q 0 0 0 rg BT 162.55 396.10 Td (receivable ) Tj ET Q q 0 0 0 rg BT 206.33 396.10 Td (and ) Tj ET Q q 0 0 0 rg BT 223.46 396.10 Td (substantially ) Tj ET Q q 0 0 0 rg BT 276.70 396.10 Td (all ) Tj ET Q q 0 0 0 rg BT 289.39 396.10 Td (of ) Tj ET Q q 0 0 0 rg BT 300.41 396.10 Td (the ) Tj ET Q q 0 0 0 rg BT 315.32 396.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 362.60 396.10 Td (other ) Tj ET Q q 0 0 0 rg BT 385.83 396.10 Td (assets. ) Tj ET Q q 0 0 0 rg BT 414.36 396.10 Td ( ) Tj ET Q q 0 0 0 rg BT 416.86 396.10 Td (The ) Tj ET Q q 0 0 0 rg BT 435.10 396.10 Td (agreement ) Tj ET Q q 0 0 0 rg BT 479.43 396.10 Td (renews ) Tj ET Q q 0 0 0 rg BT 510.44 396.10 Td (annually ) Tj ET Q q 0 0 0 rg BT 547.57 396.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 384.10 Td (requires ) Tj ET Q q 0 0 0 rg BT 84.26 384.10 Td (the ) Tj ET Q q 0 0 0 rg BT 98.53 384.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 139.46 384.10 Td (to ) Tj ET Q q 0 0 0 rg BT 149.29 384.10 Td (pay ) Tj ET Q q 0 0 0 rg BT 165.78 384.10 Td (an ) Tj ET Q q 0 0 0 rg BT 177.27 384.10 Td (annual ) Tj ET Q q 0 0 0 rg BT 205.98 384.10 Td (facility ) Tj ET Q q 0 0 0 rg BT 236.35 384.10 Td (fee ) Tj ET Q q 0 0 0 rg BT 250.61 384.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.99 384.10 Td ($20,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.49 384.10 Td ( ) Tj ET Q q 0 0 0 rg BT 295.54 384.10 Td (\() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.87 384.10 Td (0.4%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.70 384.10 Td ( ) Tj ET Q q 0 0 0 rg BT 321.75 384.10 Td (of ) Tj ET Q q 0 0 0 rg BT 332.13 384.10 Td (the ) Tj ET Q q 0 0 0 rg BT 346.40 384.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 371.21 384.10 Td (limit\) ) Tj ET Q q 0 0 0 rg BT 395.48 384.10 Td (and ) Tj ET Q q 0 0 0 rg BT 411.97 384.10 Td (an ) Tj ET Q q 0 0 0 rg BT 423.46 384.10 Td (annual ) Tj ET Q q 0 0 0 rg BT 452.17 384.10 Td (due ) Tj ET Q q 0 0 0 rg BT 468.66 384.10 Td (diligence ) Tj ET Q q 0 0 0 rg BT 507.36 384.10 Td (fee ) Tj ET Q q 0 0 0 rg BT 521.62 384.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.00 384.10 Td ($1,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.50 384.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 372.10 Td (Interest ) Tj ET Q q 0 0 0 rg BT 83.08 372.10 Td (accrues ) Tj ET Q q 0 0 0 rg BT 116.16 372.10 Td (on ) Tj ET Q q 0 0 0 rg BT 129.25 372.10 Td (the ) Tj ET Q q 0 0 0 rg BT 144.57 372.10 Td (advances ) Tj ET Q q 0 0 0 rg BT 184.31 372.10 Td (at ) Tj ET Q q 0 0 0 rg BT 194.62 372.10 Td (the ) Tj ET Q q 0 0 0 rg BT 209.94 372.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 228.02 372.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.45 372.10 Td (prime ) Tj ET Q q 0 0 0 rg BT 265.87 372.10 Td (plus ) Tj ET Q q 0 0 0 rg BT 285.64 372.10 Td (2%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.97 372.10 Td ( ) Tj ET Q q 0 0 0 rg BT 302.06 372.10 Td (per ) Tj ET Q q 0 0 0 rg BT 317.93 372.10 Td (annum. ) Tj ET Q q 0 0 0 rg BT 350.52 372.10 Td (The ) Tj ET Q q 0 0 0 rg BT 369.16 372.10 Td (default ) Tj ET Q q 0 0 0 rg BT 400.02 372.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 418.11 372.10 Td (of ) Tj ET Q q 0 0 0 rg BT 429.53 372.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 462.06 372.10 Td (is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.83 372.10 Td (prime ) Tj ET Q q 0 0 0 rg BT 498.25 372.10 Td (plus ) Tj ET Q q 0 0 0 rg BT 518.02 372.10 Td (7%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.35 372.10 Td (. ) Tj ET Q q 0 0 0 rg BT 536.95 372.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.05 372.10 Td (If ) Tj ET Q q 0 0 0 rg BT 549.80 372.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 360.10 Td (agreement ) Tj ET Q q 0 0 0 rg BT 94.23 360.10 Td (is ) Tj ET Q q 0 0 0 rg BT 103.50 360.10 Td (terminated ) Tj ET Q q 0 0 0 rg BT 148.85 360.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 170.88 360.10 Td (to ) Tj ET Q q 0 0 0 rg BT 181.26 360.10 Td (May ) Tj ET Q q 0 0 0 rg BT 202.18 360.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 212.28 360.10 Td (2016, ) Tj ET Q q 0 0 0 rg BT 237.37 360.10 Td (the ) Tj ET Q q 0 0 0 rg BT 252.18 360.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 293.66 360.10 Td (will ) Tj ET Q q 0 0 0 rg BT 311.81 360.10 Td (be ) Tj ET Q q 0 0 0 rg BT 323.85 360.10 Td (required ) Tj ET Q q 0 0 0 rg BT 359.76 360.10 Td (to ) Tj ET Q q 0 0 0 rg BT 370.13 360.10 Td (pay ) Tj ET Q q 0 0 0 rg BT 387.16 360.10 Td (a ) Tj ET Q q 0 0 0 rg BT 394.19 360.10 Td (termination ) Tj ET Q q 0 0 0 rg BT 442.89 360.10 Td (fee ) Tj ET Q q 0 0 0 rg BT 457.69 360.10 Td (of ) Tj ET Q q 0 0 0 rg BT 468.61 360.10 Td (.70% ) Tj ET Q q 0 0 0 rg BT 492.04 360.10 Td (of ) Tj ET Q q 0 0 0 rg BT 502.96 360.10 Td (the ) Tj ET Q q 0 0 0 rg BT 517.77 360.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 543.13 360.10 Td (limit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 348.10 Td (divided ) Tj ET Q q 0 0 0 rg BT 82.50 348.10 Td (by ) Tj ET Q q 0 0 0 rg BT 95.00 348.10 Td (80%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.33 348.10 Td (. ) Tj ET Q q 0 0 0 rg BT 118.33 348.10 Td ( ) Tj ET Q q 0 0 0 rg BT 120.27 348.10 Td (As ) Tj ET Q q 0 0 0 rg BT 133.89 348.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.72 348.10 Td (September30, ) Tj ET Q q 0 0 0 rg BT 204.98 348.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.98 348.10 Td (, ) Tj ET Q q 0 0 0 rg BT 229.98 348.10 Td (the ) Tj ET Q q 0 0 0 rg BT 244.70 348.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 286.08 348.10 Td (had ) Tj ET Q q 0 0 0 rg BT 303.02 348.10 Td (no ) Tj ET Q q 0 0 0 rg BT 315.52 348.10 Td (advances ) Tj ET Q q 0 0 0 rg BT 354.67 348.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 403.83 348.10 Td (under ) Tj ET Q q 0 0 0 rg BT 429.10 348.10 Td (this ) Tj ET Q q 0 0 0 rg BT 446.05 348.10 Td (agreement. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 324.10 Td (The ) Tj ET Q q 0 0 0 rg BT 68.24 324.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 109.81 324.10 Td (incurred ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.82 324.10 Td ($50,510) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.32 324.10 Td ( ) Tj ET Q q 0 0 0 rg BT 181.01 324.10 Td (in ) Tj ET Q q 0 0 0 rg BT 191.47 324.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 214.16 324.10 Td (related ) Tj ET Q q 0 0 0 rg BT 244.06 324.10 Td (to ) Tj ET Q q 0 0 0 rg BT 254.52 324.10 Td (this ) Tj ET Q q 0 0 0 rg BT 271.66 324.10 Td (loan ) Tj ET Q q 0 0 0 rg BT 291.57 324.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 338.14 324.10 Td (in ) Tj ET Q q 0 0 0 rg BT 348.61 324.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 370.73 324.10 Td (years ) Tj ET Q q 0 0 0 rg BT 394.52 324.10 Td (and ) Tj ET Q q 0 0 0 rg BT 411.65 324.10 Td (an ) Tj ET Q q 0 0 0 rg BT 423.78 324.10 Td (additional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.46 324.10 Td ($23,184) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.96 324.10 Td ( ) Tj ET Q q 0 0 0 rg BT 501.65 324.10 Td (in ) Tj ET Q q 0 0 0 rg BT 512.12 324.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 534.80 324.10 Td (related ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 312.10 Td (to ) Tj ET Q q 0 0 0 rg BT 60.21 312.10 Td (the ) Tj ET Q q 0 0 0 rg BT 74.85 312.10 Td (loan ) Tj ET Q q 0 0 0 rg BT 94.50 312.10 Td (expansion ) Tj ET Q q 0 0 0 rg BT 137.47 312.10 Td (in ) Tj ET Q q 0 0 0 rg BT 147.14 312.10 Td (April ) Tj ET Q q 0 0 0 rg BT 170.68 312.10 Td (2015. ) Tj ET Q q 0 0 0 rg BT 195.61 312.10 Td ( ) Tj ET Q q 0 0 0 rg BT 197.86 312.10 Td (These ) Tj ET Q q 0 0 0 rg BT 224.16 312.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 246.59 312.10 Td (are ) Tj ET Q q 0 0 0 rg BT 261.23 312.10 Td (capitalized ) Tj ET Q q 0 0 0 rg BT 306.96 312.10 Td (in ) Tj ET Q q 0 0 0 rg BT 317.17 312.10 Td (the ) Tj ET Q q 0 0 0 rg BT 331.81 312.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 378.82 312.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 431.79 312.10 Td (balance ) Tj ET Q q 0 0 0 rg BT 464.75 312.10 Td (sheet ) Tj ET Q q 0 0 0 rg BT 487.73 312.10 Td (as ) Tj ET Q q 0 0 0 rg BT 498.49 312.10 Td (loan ) Tj ET Q q 0 0 0 rg BT 518.13 312.10 Td (acquisition ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 300.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 72.16 300.10 Td (within ) Tj ET Q q 0 0 0 rg BT 99.87 300.10 Td (other ) Tj ET Q q 0 0 0 rg BT 122.58 300.10 Td (current ) Tj ET Q q 0 0 0 rg BT 153.05 300.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 178.54 300.10 Td (and ) Tj ET Q q 0 0 0 rg BT 195.14 300.10 Td (are ) Tj ET Q q 0 0 0 rg BT 209.50 300.10 Td (amortized ) Tj ET Q q 0 0 0 rg BT 251.64 300.10 Td (to ) Tj ET Q q 0 0 0 rg BT 261.58 300.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 293.17 300.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 327.53 300.10 Td (over ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.46 300.10 Td (one ) Tj ET Q q 0 0 0 rg BT 364.06 300.10 Td (year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.71 300.10 Td (. ) Tj ET Q q 0 0 0 rg BT 385.37 300.10 Td ( ) Tj ET Q q 0 0 0 rg BT 387.37 300.10 Td (The ) Tj ET Q q 0 0 0 rg BT 405.08 300.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 446.12 300.10 Td (amortized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.26 300.10 Td ($5,796) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.76 300.10 Td ( ) Tj ET Q q 0 0 0 rg BT 517.92 300.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.52 300.10 Td ($1,375) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 562.02 300.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 288.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.53 288.10 Td (these ) Tj ET Q q 0 0 0 rg BT 83.28 288.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 105.48 288.10 Td (through ) Tj ET Q q 0 0 0 rg BT 138.79 288.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 170.42 288.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 204.83 288.10 Td (during ) Tj ET Q q 0 0 0 rg BT 233.14 288.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.56 288.10 Td (three ) Tj ET Q q 0 0 0 rg BT 269.75 288.10 Td (months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.20 288.10 Td ( ) Tj ET Q q 0 0 0 rg BT 301.40 288.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.47 288.10 Td (September30, ) Tj ET Q q 0 0 0 rg BT 387.44 288.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.44 288.10 Td ( ) Tj ET Q q 0 0 0 rg BT 409.64 288.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.28 288.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.28 288.10 Td (, ) Tj ET Q q 0 0 0 rg BT 450.98 288.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 498.64 288.10 Td (. ) Tj ET Q q 0 0 0 rg BT 503.34 288.10 Td ( ) Tj ET Q q 0 0 0 rg BT 505.39 288.10 Td (The ) Tj ET Q q 0 0 0 rg BT 523.13 288.10 Td (Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 276.10 Td (amortized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.06 276.10 Td ($6,796) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 119.56 276.10 Td ( ) Tj ET Q q 0 0 0 rg BT 121.64 276.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.15 276.10 Td ($7,217) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 165.65 276.10 Td ( ) Tj ET Q q 0 0 0 rg BT 167.73 276.10 Td (of ) Tj ET Q q 0 0 0 rg BT 178.14 276.10 Td (these ) Tj ET Q q 0 0 0 rg BT 200.76 276.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 222.84 276.10 Td (through ) Tj ET Q q 0 0 0 rg BT 256.03 276.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 287.54 276.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 321.82 276.10 Td (during ) Tj ET Q q 0 0 0 rg BT 350.01 276.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.30 276.10 Td (nine ) Tj ET Q q 0 0 0 rg BT 383.60 276.10 Td (months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.04 276.10 Td ( ) Tj ET Q q 0 0 0 rg BT 415.12 276.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.08 276.10 Td (September30, ) Tj ET Q q 0 0 0 rg BT 500.92 276.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.92 276.10 Td ( ) Tj ET Q q 0 0 0 rg BT 523.00 276.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.51 276.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.51 276.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 264.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 97.66 264.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 240.10 Td (NOTE ) Tj ET Q q 0 0 0 rg BT 80.84 240.10 Td (4. ) Tj ET Q q 0 0 0 rg BT 122.00 240.10 Td (DERIV) Tj ET Q q 0 0 0 rg BT 152.94 240.10 Td (A) Tj ET Q q 0 0 0 rg BT 159.42 240.10 Td (TIVE ) Tj ET Q q 0 0 0 rg BT 186.37 240.10 Td (FINANCIAL) Tj ET Q q 0 0 0 rg BT 242.49 240.10 Td ( ) Tj ET Q q 0 0 0 rg BT 244.99 240.10 Td (INSTRUMENTS ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 228.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 216.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.78 216.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 108.90 216.10 Td (evaluates ) Tj ET Q q 0 0 0 rg BT 148.34 216.10 Td (its ) Tj ET Q q 0 0 0 rg BT 160.03 216.10 Td (convertible ) Tj ET Q q 0 0 0 rg BT 207.24 216.10 Td (debt, ) Tj ET Q q 0 0 0 rg BT 229.19 216.10 Td (warrants ) Tj ET Q q 0 0 0 rg BT 265.86 216.10 Td (or ) Tj ET Q q 0 0 0 rg BT 276.42 216.10 Td (other ) Tj ET Q q 0 0 0 rg BT 299.21 216.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 337.53 216.10 Td (to ) Tj ET Q q 0 0 0 rg BT 347.55 216.10 Td (determine ) Tj ET Q q 0 0 0 rg BT 389.76 216.10 Td (if ) Tj ET Q q 0 0 0 rg BT 398.11 216.10 Td (those ) Tj ET Q q 0 0 0 rg BT 421.45 216.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 459.78 216.10 Td (or ) Tj ET Q q 0 0 0 rg BT 470.35 216.10 Td (embedded ) Tj ET Q q 0 0 0 rg BT 513.67 216.10 Td (components ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 204.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.65 204.10 Td (those ) Tj ET Q q 0 0 0 rg BT 84.08 204.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 122.49 204.10 Td (qualify ) Tj ET Q q 0 0 0 rg BT 153.13 204.10 Td (as ) Tj ET Q q 0 0 0 rg BT 163.78 204.10 Td (derivatives ) Tj ET Q q 0 0 0 rg BT 209.98 204.10 Td (to ) Tj ET Q q 0 0 0 rg BT 220.07 204.10 Td (be ) Tj ET Q q 0 0 0 rg BT 231.83 204.10 Td (separately ) Tj ET Q q 0 0 0 rg BT 274.68 204.10 Td (accounted ) Tj ET Q q 0 0 0 rg BT 317.53 204.10 Td (for ) Tj ET Q q 0 0 0 rg BT 331.51 204.10 Td (in ) Tj ET Q q 0 0 0 rg BT 341.61 204.10 Td (accordance ) Tj ET Q q 0 0 0 rg BT 388.89 204.10 Td (with ) Tj ET Q q 0 0 0 rg BT 408.99 204.10 Td (paragraph ) Tj ET Q q 0 0 0 rg BT 451.28 204.10 Td (810-10-05-4 ) Tj ET Q q 0 0 0 rg BT 503.59 204.10 Td (and ) Tj ET Q q 0 0 0 rg BT 520.35 204.10 Td (815-40-25 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 192.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.86 192.10 Td (the ) Tj ET Q q 0 0 0 rg BT 75.60 192.10 Td (F) Tj ET Q q 0 0 0 rg BT 80.42 192.10 Td (ASB ) Tj ET Q q 0 0 0 rg BT 101.85 192.10 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 151.03 192.10 Td (Standards ) Tj ET Q q 0 0 0 rg BT 193.00 192.10 Td (Codification. ) Tj ET Q q 0 0 0 rg BT 247.83 192.10 Td (The ) Tj ET Q q 0 0 0 rg BT 265.91 192.10 Td (result ) Tj ET Q q 0 0 0 rg BT 290.65 192.10 Td (of ) Tj ET Q q 0 0 0 rg BT 301.51 192.10 Td (this ) Tj ET Q q 0 0 0 rg BT 318.49 192.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 364.89 192.10 Td (treatment ) Tj ET Q q 0 0 0 rg BT 405.17 192.10 Td (is ) Tj ET Q q 0 0 0 rg BT 414.37 192.10 Td (that ) Tj ET Q q 0 0 0 rg BT 431.90 192.10 Td (the ) Tj ET Q q 0 0 0 rg BT 446.64 192.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 463.05 192.10 Td (value ) Tj ET Q q 0 0 0 rg BT 487.23 192.10 Td (of ) Tj ET Q q 0 0 0 rg BT 498.09 192.10 Td (the ) Tj ET Q q 0 0 0 rg BT 512.83 192.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 555.34 192.10 Td (is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 180.10 Td (marked-to-market ) Tj ET Q q 0 0 0 rg BT 124.65 180.10 Td (each ) Tj ET Q q 0 0 0 rg BT 145.42 180.10 Td (balance ) Tj ET Q q 0 0 0 rg BT 178.41 180.10 Td (sheet ) Tj ET Q q 0 0 0 rg BT 201.42 180.10 Td (date ) Tj ET Q q 0 0 0 rg BT 220.53 180.10 Td (and ) Tj ET Q q 0 0 0 rg BT 237.43 180.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 274.86 180.10 Td (as ) Tj ET Q q 0 0 0 rg BT 285.65 180.10 Td (a ) Tj ET Q q 0 0 0 rg BT 292.55 180.10 Td (liability) Tj ET Q q 0 0 0 rg BT 323.01 180.10 Td (. ) Tj ET Q q 0 0 0 rg BT 327.96 180.10 Td (In ) Tj ET Q q 0 0 0 rg BT 338.75 180.10 Td (the ) Tj ET Q q 0 0 0 rg BT 353.43 180.10 Td (event ) Tj ET Q q 0 0 0 rg BT 377.54 180.10 Td (that ) Tj ET Q q 0 0 0 rg BT 395.00 180.10 Td (the ) Tj ET Q q 0 0 0 rg BT 409.67 180.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 426.01 180.10 Td (value ) Tj ET Q q 0 0 0 rg BT 450.12 180.10 Td (is ) Tj ET Q q 0 0 0 rg BT 459.25 180.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 496.68 180.10 Td (as ) Tj ET Q q 0 0 0 rg BT 507.47 180.10 Td (a ) Tj ET Q q 0 0 0 rg BT 514.37 180.10 Td (liability) Tj ET Q q 0 0 0 rg BT 544.83 180.10 Td (, ) Tj ET Q q 0 0 0 rg BT 549.79 180.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 168.10 Td (change ) Tj ET Q q 0 0 0 rg BT 80.09 168.10 Td (in ) Tj ET Q q 0 0 0 rg BT 89.64 168.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 105.29 168.10 Td (value ) Tj ET Q q 0 0 0 rg BT 128.71 168.10 Td (is ) Tj ET Q q 0 0 0 rg BT 137.15 168.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 173.90 168.10 Td (in ) Tj ET Q q 0 0 0 rg BT 183.45 168.10 Td (the ) Tj ET Q q 0 0 0 rg BT 197.44 168.10 Td (Statement ) Tj ET Q q 0 0 0 rg BT 239.20 168.10 Td (of ) Tj ET Q q 0 0 0 rg BT 249.30 168.10 Td (Operations ) Tj ET Q q 0 0 0 rg BT 294.95 168.10 Td (as ) Tj ET Q q 0 0 0 rg BT 305.05 168.10 Td (other ) Tj ET Q q 0 0 0 rg BT 327.37 168.10 Td (income ) Tj ET Q q 0 0 0 rg BT 358.58 168.10 Td (or ) Tj ET Q q 0 0 0 rg BT 368.68 168.10 Td (expense. ) Tj ET Q q 0 0 0 rg BT 405.16 168.10 Td (Upon ) Tj ET Q q 0 0 0 rg BT 429.15 168.10 Td (registration ) Tj ET Q q 0 0 0 rg BT 476.46 168.10 Td (of ) Tj ET Q q 0 0 0 rg BT 486.56 168.10 Td (the ) Tj ET Q q 0 0 0 rg BT 500.55 168.10 Td (shares, ) Tj ET Q q 0 0 0 rg BT 529.81 168.10 Td (changes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 156.10 Td (in ) Tj ET Q q 0 0 0 rg BT 59.61 156.10 Td (price-based ) Tj ET Q q 0 0 0 rg BT 107.53 156.10 Td (anti-dilution ) Tj ET Q q 0 0 0 rg BT 158.81 156.10 Td (adjustments, ) Tj ET Q q 0 0 0 rg BT 210.92 156.10 Td (conversion ) Tj ET Q q 0 0 0 rg BT 256.63 156.10 Td (or ) Tj ET Q q 0 0 0 rg BT 266.80 156.10 Td (exercise, ) Tj ET Q q 0 0 0 rg BT 303.89 156.10 Td (as ) Tj ET Q q 0 0 0 rg BT 314.05 156.10 Td (applicable, ) Tj ET Q q 0 0 0 rg BT 359.48 156.10 Td (of ) Tj ET Q q 0 0 0 rg BT 369.64 156.10 Td (a ) Tj ET Q q 0 0 0 rg BT 375.92 156.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 417.73 156.10 Td (instrument, ) Tj ET Q q 0 0 0 rg BT 464.84 156.10 Td (the ) Tj ET Q q 0 0 0 rg BT 478.90 156.10 Td (instrument ) Tj ET Q q 0 0 0 rg BT 523.51 156.10 Td (is ) Tj ET Q q 0 0 0 rg BT 532.01 156.10 Td (marked ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 144.10 Td (to ) Tj ET Q q 0 0 0 rg BT 60.28 144.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 76.66 144.10 Td (value ) Tj ET Q q 0 0 0 rg BT 100.81 144.10 Td (at ) Tj ET Q q 0 0 0 rg BT 110.53 144.10 Td (the ) Tj ET Q q 0 0 0 rg BT 125.24 144.10 Td (date ) Tj ET Q q 0 0 0 rg BT 144.40 144.10 Td (of ) Tj ET Q q 0 0 0 rg BT 155.23 144.10 Td (the ) Tj ET Q q 0 0 0 rg BT 169.95 144.10 Td (occurrence ) Tj ET Q q 0 0 0 rg BT 216.30 144.10 Td (of ) Tj ET Q q 0 0 0 rg BT 227.13 144.10 Td (the ) Tj ET Q q 0 0 0 rg BT 241.85 144.10 Td (event ) Tj ET Q q 0 0 0 rg BT 266.00 144.10 Td (and ) Tj ET Q q 0 0 0 rg BT 282.94 144.10 Td (then ) Tj ET Q q 0 0 0 rg BT 302.66 144.10 Td (that ) Tj ET Q q 0 0 0 rg BT 320.15 144.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 336.53 144.10 Td (value ) Tj ET Q q 0 0 0 rg BT 360.68 144.10 Td (is ) Tj ET Q q 0 0 0 rg BT 369.85 144.10 Td (reclassified ) Tj ET Q q 0 0 0 rg BT 417.89 144.10 Td (to ) Tj ET Q q 0 0 0 rg BT 428.16 144.10 Td (equity) Tj ET Q q 0 0 0 rg BT 452.51 144.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 120.10 Td (The ) Tj ET Q q 0 0 0 rg BT 68.16 120.10 Td (classification ) Tj ET Q q 0 0 0 rg BT 123.54 120.10 Td (of ) Tj ET Q q 0 0 0 rg BT 134.48 120.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 177.08 120.10 Td (instruments, ) Tj ET Q q 0 0 0 rg BT 228.85 120.10 Td (including ) Tj ET Q q 0 0 0 rg BT 269.24 120.10 Td (whether ) Tj ET Q q 0 0 0 rg BT 304.06 120.10 Td (such ) Tj ET Q q 0 0 0 rg BT 325.01 120.10 Td (instruments ) Tj ET Q q 0 0 0 rg BT 374.29 120.10 Td (should ) Tj ET Q q 0 0 0 rg BT 403.57 120.10 Td (be ) Tj ET Q q 0 0 0 rg BT 415.63 120.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 453.22 120.10 Td (as ) Tj ET Q q 0 0 0 rg BT 464.16 120.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 503.99 120.10 Td (or ) Tj ET Q q 0 0 0 rg BT 514.94 120.10 Td (as ) Tj ET Q q 0 0 0 rg BT 525.88 120.10 Td (equity) Tj ET Q q 0 0 0 rg BT 550.23 120.10 Td (, ) Tj ET Q q 0 0 0 rg BT 555.34 120.10 Td (is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 108.10 Td (re-assessed ) Tj ET Q q 0 0 0 rg BT 97.98 108.10 Td (at ) Tj ET Q q 0 0 0 rg BT 108.19 108.10 Td (the ) Tj ET Q q 0 0 0 rg BT 123.40 108.10 Td (end ) Tj ET Q q 0 0 0 rg BT 140.83 108.10 Td (of ) Tj ET Q q 0 0 0 rg BT 152.16 108.10 Td (each ) Tj ET Q q 0 0 0 rg BT 173.47 108.10 Td (reporting ) Tj ET Q q 0 0 0 rg BT 213.12 108.10 Td (period. ) Tj ET Q q 0 0 0 rg BT 244.16 108.10 Td (Equity ) Tj ET Q q 0 0 0 rg BT 273.82 108.10 Td (instruments ) Tj ET Q q 0 0 0 rg BT 323.48 108.10 Td (that ) Tj ET Q q 0 0 0 rg BT 341.47 108.10 Td (are ) Tj ET Q q 0 0 0 rg BT 356.67 108.10 Td (initially ) Tj ET Q q 0 0 0 rg BT 390.77 108.10 Td (classified ) Tj ET Q q 0 0 0 rg BT 431.53 108.10 Td (as ) Tj ET Q q 0 0 0 rg BT 442.85 108.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 470.84 108.10 Td (that ) Tj ET Q q 0 0 0 rg BT 488.83 108.10 Td (become ) Tj ET Q q 0 0 0 rg BT 522.92 108.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 554.24 108.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 96.10 Td (reclassification ) Tj ET Q q 0 0 0 rg BT 113.45 96.10 Td (are ) Tj ET Q q 0 0 0 rg BT 128.58 96.10 Td (reclassified ) Tj ET Q q 0 0 0 rg BT 177.04 96.10 Td (to ) Tj ET Q q 0 0 0 rg BT 187.74 96.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 221.77 96.10 Td (at ) Tj ET Q q 0 0 0 rg BT 231.91 96.10 Td (the ) Tj ET Q q 0 0 0 rg BT 247.05 96.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 263.85 96.10 Td (value ) Tj ET Q q 0 0 0 rg BT 288.43 96.10 Td (of ) Tj ET Q q 0 0 0 rg BT 299.69 96.10 Td (the ) Tj ET Q q 0 0 0 rg BT 314.83 96.10 Td (instrument ) Tj ET Q q 0 0 0 rg BT 360.53 96.10 Td (on ) Tj ET Q q 0 0 0 rg BT 373.45 96.10 Td (the ) Tj ET Q q 0 0 0 rg BT 388.59 96.10 Td (reclassification ) Tj ET Q q 0 0 0 rg BT 452.04 96.10 Td (date. ) Tj ET Q q 0 0 0 rg BT 474.12 96.10 Td (Derivative ) Tj ET Q q 0 0 0 rg BT 519.25 96.10 Td (instrument ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 84.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 90.63 84.10 Td (will ) Tj ET Q q 0 0 0 rg BT 109.60 84.10 Td (be ) Tj ET Q q 0 0 0 rg BT 122.46 84.10 Td (classified ) Tj ET Q q 0 0 0 rg BT 163.63 84.10 Td (in ) Tj ET Q q 0 0 0 rg BT 174.83 84.10 Td (the ) Tj ET Q q 0 0 0 rg BT 190.46 84.10 Td (balance ) Tj ET Q q 0 0 0 rg BT 224.40 84.10 Td (sheet ) Tj ET Q q 0 0 0 rg BT 248.37 84.10 Td (as ) Tj ET Q q 0 0 0 rg BT 260.11 84.10 Td (current ) Tj ET Q q 0 0 0 rg BT 291.84 84.10 Td (or ) Tj ET Q q 0 0 0 rg BT 303.59 84.10 Td (non-current ) Tj ET Q q 0 0 0 rg BT 353.65 84.10 Td (based ) Tj ET Q q 0 0 0 rg BT 379.83 84.10 Td (on ) Tj ET Q q 0 0 0 rg BT 393.24 84.10 Td (whether ) Tj ET Q q 0 0 0 rg BT 428.86 84.10 Td (or ) Tj ET Q q 0 0 0 rg BT 440.61 84.10 Td (not ) Tj ET Q q 0 0 0 rg BT 456.80 84.10 Td (net-cash ) Tj ET Q q 0 0 0 rg BT 493.53 84.10 Td (settlement ) Tj ET Q q 0 0 0 rg BT 538.05 84.10 Td (of ) Tj ET Q q 0 0 0 rg BT 549.79 84.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 72.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 92.48 72.10 Td (instrument ) Tj ET Q q 0 0 0 rg BT 137.75 72.10 Td (is ) Tj ET Q q 0 0 0 rg BT 146.92 72.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 184.96 72.10 Td (within ) Tj ET Q q 0 0 0 rg BT 213.01 72.10 Td (12 ) Tj ET Q q 0 0 0 rg BT 225.51 72.10 Td (months ) Tj ET Q q 0 0 0 rg BT 257.46 72.10 Td (after ) Tj ET Q q 0 0 0 rg BT 278.28 72.10 Td (the ) Tj ET Q q 0 0 0 rg BT 292.99 72.10 Td (balance ) Tj ET Q q 0 0 0 rg BT 326.03 72.10 Td (sheet ) Tj ET Q q 0 0 0 rg BT 349.07 72.10 Td (date.) Tj ET Q endstream endobj 31 0 obj <> endobj 32 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 283.05 772.75 Td (IZEA, Inc.) 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527.25 Td (price ) Tj ET Q q 0 0 0 rg BT 451.82 527.25 Td (adjustments.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 503.25 Td (From ) Tj ET Q q 0 0 0 rg BT 74.52 503.25 Td (July ) Tj ET Q q 0 0 0 rg BT 94.05 503.25 Td (20, ) Tj ET Q q 0 0 0 rg BT 109.40 503.25 Td (2015 ) Tj ET Q q 0 0 0 rg BT 132.26 503.25 Td (through ) Tj ET Q q 0 0 0 rg BT 165.59 503.25 Td (August ) Tj ET Q q 0 0 0 rg BT 197.33 503.25 Td (14, ) Tj ET Q q 0 0 0 rg BT 212.69 503.25 Td (2015, ) Tj ET Q q 0 0 0 rg BT 238.04 503.25 Td (the ) Tj ET Q q 0 0 0 rg BT 253.11 503.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 294.85 503.25 Td (of) Tj ET Q q 0 0 0 rg BT 303.00 503.25 Td (fered ) Tj ET Q q 0 0 0 rg BT 326.39 503.25 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.69 503.25 Td (26%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.02 503.25 Td ( ) Tj ET Q q 0 0 0 rg BT 354.87 503.25 Td (discount ) Tj ET Q q 0 0 0 rg BT 391.61 503.25 Td (on ) Tj ET Q q 0 0 0 rg BT 404.47 503.25 Td (the ) Tj ET Q q 0 0 0 rg BT 419.54 503.25 Td (warrant ) Tj ET Q q 0 0 0 rg BT 452.93 503.25 Td (exercise ) Tj ET Q q 0 0 0 rg BT 488.54 503.25 Td (prices ) Tj ET Q q 0 0 0 rg BT 515.27 503.25 Td (to ) Tj ET Q q 0 0 0 rg BT 525.90 503.25 Td (investors ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 491.25 Td (holding ) Tj ET Q q 0 0 0 rg BT 82.99 491.25 Td (the ) Tj ET Q q 0 0 0 rg BT 97.63 491.25 Td (2014 ) Tj ET Q q 0 0 0 rg BT 119.89 491.25 Td (W) Tj ET Q q 0 0 0 rg BT 128.52 491.25 Td (arrants. ) Tj ET Q q 0 0 0 rg BT 160.66 491.25 Td ( ) Tj ET Q q 0 0 0 rg BT 163.09 491.25 Td ( ) Tj ET Q q 0 0 0 rg BT 165.52 491.25 Td (If ) Tj ET Q q 0 0 0 rg BT 174.61 491.25 Td (and ) Tj ET Q q 0 0 0 rg BT 191.47 491.25 Td (to ) Tj ET Q q 0 0 0 rg BT 201.68 491.25 Td (the ) Tj ET Q q 0 0 0 rg BT 216.33 491.25 Td (extent ) Tj ET Q q 0 0 0 rg BT 243.19 491.25 Td (a ) Tj ET Q q 0 0 0 rg BT 250.06 491.25 Td (holder ) Tj ET Q q 0 0 0 rg BT 278.03 491.25 Td (did ) Tj ET Q q 0 0 0 rg BT 293.24 491.25 Td (not ) Tj ET Q q 0 0 0 rg BT 308.45 491.25 Td (exercise ) Tj ET Q q 0 0 0 rg BT 343.63 491.25 Td (its ) Tj ET Q q 0 0 0 rg BT 355.51 491.25 Td (2014 ) Tj ET Q q 0 0 0 rg BT 377.76 491.25 Td (W) Tj ET Q q 0 0 0 rg BT 386.40 491.25 Td (arrants ) Tj ET Q q 0 0 0 rg BT 416.04 491.25 Td (at ) Tj ET Q q 0 0 0 rg BT 425.68 491.25 Td (the ) Tj ET Q q 0 0 0 rg BT 440.33 491.25 Td (reduced ) Tj ET Q q 0 0 0 rg BT 474.40 491.25 Td (exercise ) Tj ET Q q 0 0 0 rg BT 509.59 491.25 Td (prices ) Tj ET Q q 0 0 0 rg BT 535.89 491.25 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 479.25 Td (this ) Tj ET Q q 0 0 0 rg BT 66.84 479.25 Td (time ) Tj ET Q q 0 0 0 rg BT 87.01 479.25 Td (period, ) Tj ET Q q 0 0 0 rg BT 117.45 479.25 Td (the ) Tj ET Q q 0 0 0 rg BT 132.06 479.25 Td (exercise ) Tj ET Q q 0 0 0 rg BT 167.21 479.25 Td (prices ) Tj ET Q q 0 0 0 rg BT 193.48 479.25 Td (of ) Tj ET Q q 0 0 0 rg BT 204.20 479.25 Td (any ) Tj ET Q q 0 0 0 rg BT 221.04 479.25 Td (unexercised ) Tj ET Q q 0 0 0 rg BT 271.19 479.25 Td (2014 ) Tj ET Q q 0 0 0 rg BT 293.41 479.25 Td (W) Tj ET Q q 0 0 0 rg BT 302.04 479.25 Td (arrants ) Tj ET Q q 0 0 0 rg BT 331.64 479.25 Td (remain ) Tj ET Q q 0 0 0 rg BT 361.80 479.25 Td (at ) Tj ET Q q 0 0 0 rg BT 371.41 479.25 Td (their ) Tj ET Q q 0 0 0 rg BT 392.13 479.25 Td (original ) Tj ET Q q 0 0 0 rg BT 425.63 479.25 Td (exercise ) Tj ET Q q 0 0 0 rg BT 460.78 479.25 Td (prices ) Tj ET Q q 0 0 0 rg BT 487.05 479.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.77 479.25 Td ($0.35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.27 479.25 Td ( ) Tj ET Q q 0 0 0 rg BT 522.67 479.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.50 479.25 Td ($0.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 562.00 479.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 467.25 Td (per ) Tj ET Q q 0 0 0 rg BT 65.48 467.25 Td (share ) Tj ET Q q 0 0 0 rg BT 89.30 467.25 Td (for ) Tj ET Q q 0 0 0 rg BT 103.68 467.25 Td (the ) Tj ET Q q 0 0 0 rg BT 118.61 467.25 Td (series ) Tj ET Q q 0 0 0 rg BT 143.49 467.25 Td (A) Tj ET Q q 0 0 0 rg BT 150.16 467.25 Td ( ) Tj ET Q q 0 0 0 rg BT 152.88 467.25 Td (and ) Tj ET Q q 0 0 0 rg BT 170.04 467.25 Td (series ) Tj ET Q q 0 0 0 rg BT 195.52 467.25 Td (B ) Tj ET Q q 0 0 0 rg BT 204.91 467.25 Td (2014 ) Tj ET Q q 0 0 0 rg BT 227.43 467.25 Td (W) Tj ET Q q 0 0 0 rg BT 236.06 467.25 Td (arrants, ) Tj ET Q q 0 0 0 rg BT 268.49 467.25 Td (respectively) Tj ET Q q 0 0 0 rg BT 316.15 467.25 Td (. ) Tj ET Q q 0 0 0 rg BT 321.37 467.25 Td ( ) Tj ET Q q 0 0 0 rg BT 324.08 467.25 Td (In ) Tj ET Q q 0 0 0 rg BT 335.13 467.25 Td (exchange ) Tj ET Q q 0 0 0 rg BT 375.60 467.25 Td (for ) Tj ET Q q 0 0 0 rg BT 389.97 467.25 Td (the ) Tj ET Q q 0 0 0 rg BT 404.91 467.25 Td (reduction ) Tj ET Q q 0 0 0 rg BT 445.39 467.25 Td (in ) Tj ET Q q 0 0 0 rg BT 455.88 467.25 Td (the ) Tj ET Q q 0 0 0 rg BT 470.82 467.25 Td (warrant ) Tj ET Q q 0 0 0 rg BT 504.07 467.25 Td (exercise ) Tj ET Q q 0 0 0 rg BT 539.54 467.25 Td (price, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 455.25 Td (the ) Tj ET Q q 0 0 0 rg BT 64.54 455.25 Td (investors ) Tj ET Q q 0 0 0 rg BT 102.97 455.25 Td (holding ) Tj ET Q q 0 0 0 rg BT 135.85 455.25 Td (a ) Tj ET Q q 0 0 0 rg BT 142.61 455.25 Td (majority ) Tj ET Q q 0 0 0 rg BT 178.81 455.25 Td (of ) Tj ET Q q 0 0 0 rg BT 189.46 455.25 Td (the ) Tj ET Q q 0 0 0 rg BT 204.00 455.25 Td (2014 ) Tj ET Q q 0 0 0 rg BT 226.16 455.25 Td (W) Tj ET Q q 0 0 0 rg BT 234.79 455.25 Td (arrants ) Tj ET Q q 0 0 0 rg BT 264.32 455.25 Td (agreed ) Tj ET Q q 0 0 0 rg BT 293.29 455.25 Td (to ) Tj ET Q q 0 0 0 rg BT 303.39 455.25 Td (amend ) Tj ET Q q 0 0 0 rg BT 332.37 455.25 Td (the ) Tj ET Q q 0 0 0 rg BT 346.90 455.25 Td (2014 ) Tj ET Q q 0 0 0 rg BT 369.06 455.25 Td (W) Tj ET Q q 0 0 0 rg BT 377.70 455.25 Td (arrants ) Tj ET Q q 0 0 0 rg BT 407.23 455.25 Td (to ) Tj ET Q q 0 0 0 rg BT 417.33 455.25 Td (remove ) Tj ET Q q 0 0 0 rg BT 449.63 455.25 Td (the ) Tj ET Q q 0 0 0 rg BT 464.17 455.25 Td (price-based ) Tj ET Q q 0 0 0 rg BT 512.58 455.25 Td (anti-dilution ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 443.25 Td (adjustment ) Tj ET Q q 0 0 0 rg BT 96.77 443.25 Td (provisions ) Tj ET Q q 0 0 0 rg BT 141.33 443.25 Td (contained ) Tj ET Q q 0 0 0 rg BT 183.09 443.25 Td (in ) Tj ET Q q 0 0 0 rg BT 193.75 443.25 Td (the ) Tj ET Q q 0 0 0 rg BT 208.85 443.25 Td (2014 ) Tj ET Q q 0 0 0 rg BT 231.53 443.25 Td (W) Tj ET Q q 0 0 0 rg BT 240.17 443.25 Td (arrants. ) Tj ET Q q 0 0 0 rg BT 272.56 443.25 Td (The ) Tj ET Q q 0 0 0 rg BT 290.99 443.25 Td (removal ) Tj ET Q q 0 0 0 rg BT 326.64 443.25 Td (of ) Tj ET Q q 0 0 0 rg BT 337.86 443.25 Td (these ) Tj ET Q q 0 0 0 rg BT 361.29 443.25 Td (provisions ) Tj ET Q q 0 0 0 rg BT 405.85 443.25 Td (from ) Tj ET Q q 0 0 0 rg BT 428.18 443.25 Td (the ) Tj ET Q q 0 0 0 rg BT 443.28 443.25 Td (2014 ) Tj ET Q q 0 0 0 rg BT 465.96 443.25 Td (W) Tj ET Q q 0 0 0 rg BT 474.60 443.25 Td (arrants ) Tj ET Q q 0 0 0 rg BT 504.69 443.25 Td (eliminated ) Tj ET Q q 0 0 0 rg BT 549.78 443.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 431.25 Td (provision ) Tj ET Q q 0 0 0 rg BT 90.34 431.25 Td (that ) Tj ET Q q 0 0 0 rg BT 107.89 431.25 Td (required ) Tj ET Q q 0 0 0 rg BT 143.76 431.25 Td (liability ) Tj ET Q q 0 0 0 rg BT 177.43 431.25 Td (classification ) Tj ET Q q 0 0 0 rg BT 232.74 431.25 Td (of ) Tj ET Q q 0 0 0 rg BT 243.63 431.25 Td (the ) Tj ET Q q 0 0 0 rg BT 258.41 431.25 Td (2014 ) Tj ET Q q 0 0 0 rg BT 280.78 431.25 Td (W) Tj ET Q q 0 0 0 rg BT 289.42 431.25 Td (arrants ) Tj ET Q q 0 0 0 rg BT 319.18 431.25 Td (and ) Tj ET Q q 0 0 0 rg BT 336.18 431.25 Td (quarterly ) Tj ET Q q 0 0 0 rg BT 374.83 431.25 Td (non-cash ) Tj ET Q q 0 0 0 rg BT 413.48 431.25 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 463.82 431.25 Td (reflecting ) Tj ET Q q 0 0 0 rg BT 504.68 431.25 Td (changes ) Tj ET Q q 0 0 0 rg BT 539.45 431.25 Td (in ) Tj ET Q q 0 0 0 rg BT 549.78 431.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 419.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 65.90 419.25 Td (value ) Tj ET Q q 0 0 0 rg BT 89.57 419.25 Td (of ) Tj ET Q q 0 0 0 rg BT 99.92 419.25 Td (the ) Tj ET Q q 0 0 0 rg BT 114.16 419.25 Td (derivative ) Tj ET Q q 0 0 0 rg BT 156.16 419.25 Td (liability ) Tj ET Q q 0 0 0 rg BT 189.29 419.25 Td (on ) Tj ET Q q 0 0 0 rg BT 201.31 419.25 Td (the ) Tj ET Q q 0 0 0 rg BT 215.55 419.25 Td (Company) Tj ET Q q 0 0 0 rg BT 257.21 419.25 Td (s ) Tj ET Q q 0 0 0 rg BT 263.13 419.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 300.13 419.25 Td (statements. ) Tj ET Q q 0 0 0 rg BT 346.86 419.25 Td (Except ) Tj ET Q q 0 0 0 rg BT 376.64 419.25 Td (for ) Tj ET Q q 0 0 0 rg BT 390.32 419.25 Td (the ) Tj ET Q q 0 0 0 rg BT 404.56 419.25 Td (temporarily ) Tj ET Q q 0 0 0 rg BT 453.23 419.25 Td (reduced ) Tj ET Q q 0 0 0 rg BT 486.90 419.25 Td (exercise ) Tj ET Q q 0 0 0 rg BT 521.67 419.25 Td (prices ) Tj ET Q q 0 0 0 rg BT 547.57 419.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 407.25 Td (elimination ) Tj ET Q q 0 0 0 rg BT 98.40 407.25 Td (of ) Tj ET Q q 0 0 0 rg BT 109.59 407.25 Td (the ) Tj ET Q q 0 0 0 rg BT 124.67 407.25 Td (anti-dilution ) Tj ET Q q 0 0 0 rg BT 176.96 407.25 Td (adjustment ) Tj ET Q q 0 0 0 rg BT 223.70 407.25 Td (provisions ) Tj ET Q q 0 0 0 rg BT 268.23 407.25 Td (in ) Tj ET Q q 0 0 0 rg BT 278.87 407.25 Td (the ) Tj ET Q q 0 0 0 rg BT 293.94 407.25 Td (2014 ) Tj ET Q q 0 0 0 rg BT 316.59 407.25 Td (W) Tj ET Q q 0 0 0 rg BT 325.23 407.25 Td (arrants, ) Tj ET Q q 0 0 0 rg BT 357.80 407.25 Td (the ) Tj ET Q q 0 0 0 rg BT 372.87 407.25 Td (terms ) Tj ET Q q 0 0 0 rg BT 397.95 407.25 Td (of ) Tj ET Q q 0 0 0 rg BT 409.13 407.25 Td (the ) Tj ET Q q 0 0 0 rg BT 424.21 407.25 Td (2014 ) Tj ET Q q 0 0 0 rg BT 446.86 407.25 Td (W) Tj ET Q q 0 0 0 rg BT 455.50 407.25 Td (arrants ) Tj ET Q q 0 0 0 rg BT 485.56 407.25 Td (remain ) Tj ET Q q 0 0 0 rg BT 516.18 407.25 Td (unchanged. ) Tj ET Q q 0 0 0 rg BT 564.50 407.25 Td ( ) Tj ET Q q 0 0 0 rg BT 567.00 407.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 395.25 Td (As ) Tj ET Q q 0 0 0 rg BT 63.33 395.25 Td (a ) Tj ET Q q 0 0 0 rg BT 69.98 395.25 Td (result ) Tj ET Q q 0 0 0 rg BT 94.41 395.25 Td (of ) Tj ET Q q 0 0 0 rg BT 104.96 395.25 Td (the ) Tj ET Q q 0 0 0 rg BT 119.39 395.25 Td (amendment ) Tj ET Q q 0 0 0 rg BT 168.25 395.25 Td (in ) Tj ET Q q 0 0 0 rg BT 178.24 395.25 Td (the ) Tj ET Q q 0 0 0 rg BT 192.68 395.25 Td (2014 ) Tj ET Q q 0 0 0 rg BT 214.73 395.25 Td (W) Tj ET Q q 0 0 0 rg BT 223.37 395.25 Td (arrants ) Tj ET Q q 0 0 0 rg BT 252.79 395.25 Td (terms, ) Tj ET Q q 0 0 0 rg BT 279.72 395.25 Td (the ) Tj ET Q q 0 0 0 rg BT 294.15 395.25 Td (2014 ) Tj ET Q q 0 0 0 rg BT 316.21 395.25 Td (W) Tj ET Q q 0 0 0 rg BT 324.84 395.25 Td (arrants ) Tj ET Q q 0 0 0 rg BT 354.26 395.25 Td (no ) Tj ET Q q 0 0 0 rg BT 366.48 395.25 Td (longer ) Tj ET Q q 0 0 0 rg BT 394.24 395.25 Td (require ) Tj ET Q q 0 0 0 rg BT 424.77 395.25 Td (liability ) Tj ET Q q 0 0 0 rg BT 458.09 395.25 Td (classification ) Tj ET Q q 0 0 0 rg BT 513.07 395.25 Td (after ) Tj ET Q q 0 0 0 rg BT 533.11 395.25 Td (August ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 383.25 Td (14, ) Tj ET Q q 0 0 0 rg BT 65.00 383.25 Td (2015.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 359.25 Td (At ) Tj ET Q q 0 0 0 rg BT 62.76 359.25 Td (the ) Tj ET Q q 0 0 0 rg BT 77.73 359.25 Td (close ) Tj ET Q q 0 0 0 rg BT 101.03 359.25 Td (of ) Tj ET Q q 0 0 0 rg BT 112.12 359.25 Td (the ) Tj ET Q q 0 0 0 rg BT 127.09 359.25 Td (of) Tj ET Q q 0 0 0 rg BT 135.24 359.25 Td (fer ) Tj ET Q q 0 0 0 rg BT 149.10 359.25 Td (period ) Tj ET Q q 0 0 0 rg BT 177.40 359.25 Td (on ) Tj ET Q q 0 0 0 rg BT 189.55 359.25 Td (August ) Tj ET Q q 0 0 0 rg BT 221.20 359.25 Td (14, ) Tj ET Q q 0 0 0 rg BT 236.45 359.25 Td (2015, ) Tj ET Q q 0 0 0 rg BT 261.71 359.25 Td (investors ) Tj ET Q q 0 0 0 rg BT 300.57 359.25 Td (exchanged ) Tj ET Q q 0 0 0 rg BT 346.08 359.25 Td (and ) Tj ET Q q 0 0 0 rg BT 363.28 359.25 Td (converted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.46 359.25 Td (27,856,294) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.46 359.25 Td ( ) Tj ET Q q 0 0 0 rg BT 453.21 359.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 480.96 359.25 Td (underlying ) Tj ET Q q 0 0 0 rg BT 527.04 359.25 Td (the ) Tj ET Q q 0 0 0 rg BT 542.02 359.25 Td (2014 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 347.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 347.25 Td (arrants ) Tj ET Q q 0 0 0 rg BT 88.15 347.25 Td (at ) Tj ET Q q 0 0 0 rg BT 97.67 347.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 112.19 347.25 Td (26%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.52 347.25 Td ( ) Tj ET Q q 0 0 0 rg BT 132.82 347.25 Td (discount ) Tj ET Q q 0 0 0 rg BT 169.01 347.25 Td (for ) Tj ET Q q 0 0 0 rg BT 182.98 347.25 Td (total ) Tj ET Q q 0 0 0 rg BT 203.05 347.25 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 240.90 347.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.53 347.25 Td ($8,760,805) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.53 347.25 Td (. ) Tj ET Q q 0 0 0 rg BT 301.17 347.25 Td (The ) Tj ET Q q 0 0 0 rg BT 319.02 347.25 Td (amendment ) Tj ET Q q 0 0 0 rg BT 367.97 347.25 Td (of ) Tj ET Q q 0 0 0 rg BT 378.60 347.25 Td (the ) Tj ET Q q 0 0 0 rg BT 393.13 347.25 Td (2014 ) Tj ET Q q 0 0 0 rg BT 415.26 347.25 Td (W) Tj ET Q q 0 0 0 rg BT 423.90 347.25 Td (arrants ) Tj ET Q q 0 0 0 rg BT 453.41 347.25 Td (to ) Tj ET Q q 0 0 0 rg BT 463.49 347.25 Td (reduce ) Tj ET Q q 0 0 0 rg BT 492.44 347.25 Td (the ) Tj ET Q q 0 0 0 rg BT 506.96 347.25 Td (exercise ) Tj ET Q q 0 0 0 rg BT 542.02 347.25 Td (price ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 335.25 Td (required ) Tj ET Q q 0 0 0 rg BT 85.17 335.25 Td (the ) Tj ET Q q 0 0 0 rg BT 99.23 335.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 139.97 335.25 Td (to ) Tj ET Q q 0 0 0 rg BT 149.60 335.25 Td (treat ) Tj ET Q q 0 0 0 rg BT 169.21 335.25 Td (the ) Tj ET Q q 0 0 0 rg BT 183.28 335.25 Td (adjustment ) Tj ET Q q 0 0 0 rg BT 229.01 335.25 Td (as ) Tj ET Q q 0 0 0 rg BT 239.19 335.25 Td (an ) Tj ET Q q 0 0 0 rg BT 250.48 335.25 Td (exchange ) Tj ET Q q 0 0 0 rg BT 290.09 335.25 Td (whereby ) Tj ET Q q 0 0 0 rg BT 326.37 335.25 Td (it ) Tj ET Q q 0 0 0 rg BT 333.77 335.25 Td (computed ) Tj ET Q q 0 0 0 rg BT 375.06 335.25 Td (the ) Tj ET Q q 0 0 0 rg BT 389.13 335.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 404.85 335.25 Td (value ) Tj ET Q q 0 0 0 rg BT 428.36 335.25 Td (of ) Tj ET Q q 0 0 0 rg BT 438.54 335.25 Td (the ) Tj ET Q q 0 0 0 rg BT 452.61 335.25 Td (2014 ) Tj ET Q q 0 0 0 rg BT 474.32 335.25 Td (W) Tj ET Q q 0 0 0 rg BT 482.96 335.25 Td (arrants ) Tj ET Q q 0 0 0 rg BT 512.02 335.25 Td (immediately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 323.25 Td (prior ) Tj ET Q q 0 0 0 rg BT 72.18 323.25 Td (to ) Tj ET Q q 0 0 0 rg BT 82.71 323.25 Td (the ) Tj ET Q q 0 0 0 rg BT 97.67 323.25 Td (price ) Tj ET Q q 0 0 0 rg BT 120.40 323.25 Td (reduction ) Tj ET Q q 0 0 0 rg BT 160.90 323.25 Td (and ) Tj ET Q q 0 0 0 rg BT 178.09 323.25 Td (the ) Tj ET Q q 0 0 0 rg BT 193.05 323.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 209.67 323.25 Td (value ) Tj ET Q q 0 0 0 rg BT 234.07 323.25 Td (of ) Tj ET Q q 0 0 0 rg BT 245.14 323.25 Td (the ) Tj ET Q q 0 0 0 rg BT 260.10 323.25 Td (2014 ) Tj ET Q q 0 0 0 rg BT 282.65 323.25 Td (W) Tj ET Q q 0 0 0 rg BT 291.29 323.25 Td (arrants ) Tj ET Q q 0 0 0 rg BT 321.24 323.25 Td (after ) Tj ET Q q 0 0 0 rg BT 342.30 323.25 Td (the ) Tj ET Q q 0 0 0 rg BT 357.26 323.25 Td (price ) Tj ET Q q 0 0 0 rg BT 379.99 323.25 Td (reduction. ) Tj ET Q q 0 0 0 rg BT 423.00 323.25 Td ( ) Tj ET Q q 0 0 0 rg BT 425.54 323.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.83 323.25 Td ($1,197,821) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.83 323.25 Td ( ) Tj ET Q q 0 0 0 rg BT 491.58 323.25 Td (change ) Tj ET Q q 0 0 0 rg BT 522.64 323.25 Td (in ) Tj ET Q q 0 0 0 rg BT 533.16 323.25 Td (the ) Tj ET Q q 0 0 0 rg BT 548.12 323.25 Td (fair ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 311.25 Td (value ) Tj ET Q q 0 0 0 rg BT 74.61 311.25 Td (of ) Tj ET Q q 0 0 0 rg BT 85.90 311.25 Td (the ) Tj ET Q q 0 0 0 rg BT 101.08 311.25 Td (2014 ) Tj ET Q q 0 0 0 rg BT 123.82 311.25 Td (W) Tj ET Q q 0 0 0 rg BT 132.46 311.25 Td (arrants ) Tj ET Q q 0 0 0 rg BT 162.63 311.25 Td (as ) Tj ET Q q 0 0 0 rg BT 173.92 311.25 Td (a ) Tj ET Q q 0 0 0 rg BT 181.31 311.25 Td (result ) Tj ET Q q 0 0 0 rg BT 206.49 311.25 Td (of ) Tj ET Q q 0 0 0 rg BT 217.78 311.25 Td (the ) Tj ET Q q 0 0 0 rg BT 232.96 311.25 Td (price ) Tj ET Q q 0 0 0 rg BT 255.90 311.25 Td (reduction ) Tj ET Q q 0 0 0 rg BT 296.62 311.25 Td (was ) Tj ET Q q 0 0 0 rg BT 315.13 311.25 Td (treated ) Tj ET Q q 0 0 0 rg BT 345.29 311.25 Td (as ) Tj ET Q q 0 0 0 rg BT 356.58 311.25 Td (a ) Tj ET Q q 0 0 0 rg BT 363.98 311.25 Td (loss ) Tj ET Q q 0 0 0 rg BT 382.50 311.25 Td (on ) Tj ET Q q 0 0 0 rg BT 395.46 311.25 Td (exchange ) Tj ET Q q 0 0 0 rg BT 436.17 311.25 Td (and ) Tj ET Q q 0 0 0 rg BT 453.57 311.25 Td (recorded ) Tj ET Q q 0 0 0 rg BT 491.50 311.25 Td (in ) Tj ET Q q 0 0 0 rg BT 502.24 311.25 Td (the ) Tj ET Q q 0 0 0 rg BT 517.42 311.25 Td (Company's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 299.25 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 103.04 299.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 147.75 299.25 Td (of ) Tj ET Q q 0 0 0 rg BT 158.58 299.25 Td (operations ) Tj ET Q q 0 0 0 rg BT 202.74 299.25 Td (during ) Tj ET Q q 0 0 0 rg BT 231.35 299.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.06 299.25 Td (three ) Tj ET Q q 0 0 0 rg BT 268.55 299.25 Td (and ) Tj ET Q q 0 0 0 rg BT 285.49 299.25 Td (nine ) Tj ET Q q 0 0 0 rg BT 305.21 299.25 Td (months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 299.25 Td ( ) Tj ET Q q 0 0 0 rg BT 337.15 299.25 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.53 299.25 Td (September30, ) Tj ET Q q 0 0 0 rg BT 423.79 299.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.79 299.25 Td (. ) Tj ET Q q 0 0 0 rg BT 448.79 299.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 275.25 Td (As ) Tj ET Q q 0 0 0 rg BT 63.76 275.25 Td (a ) Tj ET Q q 0 0 0 rg BT 70.85 275.25 Td (result ) Tj ET Q q 0 0 0 rg BT 95.72 275.25 Td (of ) Tj ET Q q 0 0 0 rg BT 106.70 275.25 Td (the ) Tj ET Q q 0 0 0 rg BT 121.57 275.25 Td (above ) Tj ET Q q 0 0 0 rg BT 148.09 275.25 Td (transactions, ) Tj ET Q q 0 0 0 rg BT 201.01 275.25 Td (the ) Tj ET Q q 0 0 0 rg BT 215.88 275.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 232.40 275.25 Td (value ) Tj ET Q q 0 0 0 rg BT 256.71 275.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.69 275.25 Td ($5,348,408) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.69 275.25 Td ( ) Tj ET Q q 0 0 0 rg BT 315.34 275.25 Td (on ) Tj ET Q q 0 0 0 rg BT 327.99 275.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.86 275.25 Td (27,856,294) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.86 275.25 Td ( ) Tj ET Q q 0 0 0 rg BT 390.51 275.25 Td (exercised ) Tj ET Q q 0 0 0 rg BT 430.91 275.25 Td (2014 ) Tj ET Q q 0 0 0 rg BT 453.37 275.25 Td (W) Tj ET Q q 0 0 0 rg BT 462.01 275.25 Td (arrants ) Tj ET Q q 0 0 0 rg BT 491.87 275.25 Td (and ) Tj ET Q q 0 0 0 rg BT 508.95 275.25 Td (the ) Tj ET Q q 0 0 0 rg BT 523.82 275.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 540.35 275.25 Td (value ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 263.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.06 263.25 Td ($1,181,638) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 106.06 263.25 Td ( ) Tj ET Q q 0 0 0 rg BT 108.79 263.25 Td (on ) Tj ET Q q 0 0 0 rg BT 121.52 263.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 136.46 263.25 Td (7,930,456) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.46 263.25 Td ( ) Tj ET Q q 0 0 0 rg BT 179.19 263.25 Td (remaining ) Tj ET Q q 0 0 0 rg BT 222.46 263.25 Td (unexercised ) Tj ET Q q 0 0 0 rg BT 272.94 263.25 Td (2014 ) Tj ET Q q 0 0 0 rg BT 295.47 263.25 Td (W) Tj ET Q q 0 0 0 rg BT 304.11 263.25 Td (arrants ) Tj ET Q q 0 0 0 rg BT 334.05 263.25 Td (as ) Tj ET Q q 0 0 0 rg BT 345.11 263.25 Td (of ) Tj ET Q q 0 0 0 rg BT 355.56 263.25 Td (August ) Tj ET Q q 0 0 0 rg BT 387.18 263.25 Td (14, ) Tj ET Q q 0 0 0 rg BT 402.41 263.25 Td (2015 ) Tj ET Q q 0 0 0 rg BT 425.14 263.25 Td (was ) Tj ET Q q 0 0 0 rg BT 443.42 263.25 Td (moved ) Tj ET Q q 0 0 0 rg BT 473.36 263.25 Td (to ) Tj ET Q q 0 0 0 rg BT 483.87 263.25 Td (equity ) Tj ET Q q 0 0 0 rg BT 511.59 263.25 Td (as ) Tj ET Q q 0 0 0 rg BT 522.65 263.25 Td (of ) Tj ET Q q 0 0 0 rg BT 533.11 263.25 Td (August ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 251.25 Td (14, ) Tj ET Q q 0 0 0 rg BT 65.00 251.25 Td (2015.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 227.25 Td (2013 ) Tj ET Q q 0 0 0 rg BT 72.32 227.25 Td (Activity:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 215.25 Td (From ) Tj ET Q q 0 0 0 rg BT 73.76 215.25 Td (August ) Tj ET Q q 0 0 0 rg BT 105.34 215.25 Td (15, ) Tj ET Q q 0 0 0 rg BT 120.53 215.25 Td (2013 ) Tj ET Q q 0 0 0 rg BT 143.21 215.25 Td (through ) Tj ET Q q 0 0 0 rg BT 177.00 215.25 Td (September ) Tj ET Q q 0 0 0 rg BT 222.45 215.25 Td (23, ) Tj ET Q q 0 0 0 rg BT 237.64 215.25 Td (2013, ) Tj ET Q q 0 0 0 rg BT 262.83 215.25 Td (the ) Tj ET Q q 0 0 0 rg BT 277.73 215.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 319.30 215.25 Td (issued ) Tj ET Q q 0 0 0 rg BT 346.99 215.25 Td (five-year ) Tj ET Q q 0 0 0 rg BT 385.75 215.25 Td (warrants ) Tj ET Q q 0 0 0 rg BT 422.87 215.25 Td (to ) Tj ET Q q 0 0 0 rg BT 433.33 215.25 Td (purchase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.56 215.25 Td (7,1) Tj ET Q q 0 0 0 rg BT 483.68 215.25 Td (18,236) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.18 215.25 Td ( ) Tj ET Q q 0 0 0 rg BT 513.87 215.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 541.55 215.25 Td (of ) Tj ET Q q 0 0 0 rg BT 552.56 215.25 Td (its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 203.25 Td (common ) Tj ET Q q 0 0 0 rg BT 87.27 203.25 Td (stock ) Tj ET Q q 0 0 0 rg BT 110.66 203.25 Td (at ) Tj ET Q q 0 0 0 rg BT 120.15 203.25 Td (an ) Tj ET Q q 0 0 0 rg BT 131.87 203.25 Td (exercise ) Tj ET Q q 0 0 0 rg BT 166.90 203.25 Td (price ) Tj ET Q q 0 0 0 rg BT 189.17 203.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.77 203.25 Td ($0.25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.27 203.25 Td ( ) Tj ET Q q 0 0 0 rg BT 224.55 203.25 Td (per ) Tj ET Q q 0 0 0 rg BT 239.60 203.25 Td (share ) Tj ET Q q 0 0 0 rg BT 262.97 203.25 Td (and ) Tj ET Q q 0 0 0 rg BT 279.69 203.25 Td (five-year ) Tj ET Q q 0 0 0 rg BT 318.05 203.25 Td (warrants ) Tj ET Q q 0 0 0 rg BT 354.76 203.25 Td (to ) Tj ET Q q 0 0 0 rg BT 364.81 203.25 Td (purchase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.63 203.25 Td (7,1) Tj ET Q q 0 0 0 rg BT 414.76 203.25 Td (18,236) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.26 203.25 Td ( ) Tj ET Q q 0 0 0 rg BT 444.54 203.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 471.80 203.25 Td (of ) Tj ET Q q 0 0 0 rg BT 482.41 203.25 Td (its ) Tj ET Q q 0 0 0 rg BT 494.14 203.25 Td (common ) Tj ET Q q 0 0 0 rg BT 531.41 203.25 Td (stock ) Tj ET Q q 0 0 0 rg BT 554.80 203.25 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 191.25 Td (an ) Tj ET Q q 0 0 0 rg BT 61.95 191.25 Td (exercise ) Tj ET Q q 0 0 0 rg BT 97.21 191.25 Td (price ) Tj ET Q q 0 0 0 rg BT 119.71 191.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.55 191.25 Td ($0.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.05 191.25 Td ( ) Tj ET Q q 0 0 0 rg BT 155.56 191.25 Td (per ) Tj ET Q q 0 0 0 rg BT 170.84 191.25 Td (share ) Tj ET Q q 0 0 0 rg BT 194.45 191.25 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 231.40 191.25 Td (to ) Tj ET Q q 0 0 0 rg BT 241.69 191.25 Td (the ) Tj ET Q q 0 0 0 rg BT 256.42 191.25 Td (terms ) Tj ET Q q 0 0 0 rg BT 281.15 191.25 Td (of ) Tj ET Q q 0 0 0 rg BT 291.99 191.25 Td (the ) Tj ET Q q 0 0 0 rg BT 306.72 191.25 Td (Securities ) Tj ET Q q 0 0 0 rg BT 348.66 191.25 Td (Purchase ) Tj ET Q q 0 0 0 rg BT 386.72 191.25 Td (Agreements ) Tj ET Q q 0 0 0 rg BT 437.55 191.25 Td (entered ) Tj ET Q q 0 0 0 rg BT 469.48 191.25 Td (into ) Tj ET Q q 0 0 0 rg BT 487.55 191.25 Td (in ) Tj ET Q q 0 0 0 rg BT 497.84 191.25 Td (connection ) Tj ET Q q 0 0 0 rg BT 544.22 191.25 Td (with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 179.25 Td (a ) Tj ET Q q 0 0 0 rg BT 58.18 179.25 Td (private ) Tj ET Q q 0 0 0 rg BT 89.68 179.25 Td (placement ) Tj ET Q q 0 0 0 rg BT 134.51 179.25 Td (of ) Tj ET Q q 0 0 0 rg BT 146.58 179.25 Td (its ) Tj ET Q q 0 0 0 rg BT 159.77 179.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 188.50 179.25 Td (\(the ) Tj ET Q q 0 0 0 rg BT 207.79 179.25 Td ("2013 ) Tj ET Q q 0 0 0 rg BT 235.61 179.25 Td (Private ) Tj ET Q q 0 0 0 rg BT 267.68 179.25 Td (Placement"\). ) Tj ET Q q 0 0 0 rg BT 322.98 179.25 Td ( ) Tj ET Q q 0 0 0 rg BT 326.45 179.25 Td (The ) Tj ET Q q 0 0 0 rg BT 345.74 179.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 388.36 179.25 Td (determined ) Tj ET Q q 0 0 0 rg BT 437.08 179.25 Td (that ) Tj ET Q q 0 0 0 rg BT 455.82 179.25 Td (these ) Tj ET Q q 0 0 0 rg BT 480.11 179.25 Td (warrants ) Tj ET Q q 0 0 0 rg BT 518.27 179.25 Td (\(the ) Tj ET Q q 0 0 0 rg BT 537.56 179.25 Td (2013 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 167.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 167.25 Td (arrants\) ) Tj ET Q q 0 0 0 rg BT 96.28 167.25 Td (required ) Tj ET Q q 0 0 0 rg BT 132.26 167.25 Td (classification ) Tj ET Q q 0 0 0 rg BT 187.69 167.25 Td (as ) Tj ET Q q 0 0 0 rg BT 198.68 167.25 Td (a ) Tj ET Q q 0 0 0 rg BT 205.79 167.25 Td (liability ) Tj ET Q q 0 0 0 rg BT 239.56 167.25 Td (due ) Tj ET Q q 0 0 0 rg BT 256.67 167.25 Td (to ) Tj ET Q q 0 0 0 rg BT 267.11 167.25 Td (certain ) Tj ET Q q 0 0 0 rg BT 296.98 167.25 Td (registration ) Tj ET Q q 0 0 0 rg BT 345.19 167.25 Td (rights ) Tj ET Q q 0 0 0 rg BT 370.63 167.25 Td (in ) Tj ET Q q 0 0 0 rg BT 381.07 167.25 Td (the ) Tj ET Q q 0 0 0 rg BT 395.96 167.25 Td (agreements ) Tj ET Q q 0 0 0 rg BT 444.16 167.25 Td (that ) Tj ET Q q 0 0 0 rg BT 461.82 167.25 Td (required ) Tj ET Q q 0 0 0 rg BT 497.80 167.25 Td (the ) Tj ET Q q 0 0 0 rg BT 512.68 167.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 554.23 167.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 155.25 Td (file ) Tj ET Q q 0 0 0 rg BT 65.88 155.25 Td (a ) Tj ET Q q 0 0 0 rg BT 72.87 155.25 Td (registration ) Tj ET Q q 0 0 0 rg BT 120.96 155.25 Td (statement ) Tj ET Q q 0 0 0 rg BT 161.84 155.25 Td (with ) Tj ET Q q 0 0 0 rg BT 182.17 155.25 Td (the ) Tj ET Q q 0 0 0 rg BT 196.94 155.25 Td (SEC ) Tj ET Q q 0 0 0 rg BT 217.83 155.25 Td (for ) Tj ET Q q 0 0 0 rg BT 232.04 155.25 Td (purposes ) Tj ET Q q 0 0 0 rg BT 270.15 155.25 Td (of ) Tj ET Q q 0 0 0 rg BT 281.03 155.25 Td (registering ) Tj ET Q q 0 0 0 rg BT 326.35 155.25 Td (the ) Tj ET Q q 0 0 0 rg BT 341.12 155.25 Td (resale ) Tj ET Q q 0 0 0 rg BT 366.98 155.25 Td (of ) Tj ET Q q 0 0 0 rg BT 377.87 155.25 Td (the ) Tj ET Q q 0 0 0 rg BT 392.64 155.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 420.18 155.25 Td (underlying ) Tj ET Q q 0 0 0 rg BT 466.06 155.25 Td (the ) Tj ET Q q 0 0 0 rg BT 480.83 155.25 Td (2013 ) Tj ET Q q 0 0 0 rg BT 503.20 155.25 Td (W) Tj ET Q q 0 0 0 rg BT 511.83 155.25 Td (arrants. ) Tj ET Q q 0 0 0 rg BT 544.09 155.25 Td ( ) Tj ET Q q 0 0 0 rg BT 546.46 155.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 143.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 91.39 143.25 Td (determined ) Tj ET Q q 0 0 0 rg BT 138.87 143.25 Td (that ) Tj ET Q q 0 0 0 rg BT 156.36 143.25 Td (the ) Tj ET Q q 0 0 0 rg BT 171.08 143.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 187.46 143.25 Td (value ) Tj ET Q q 0 0 0 rg BT 211.61 143.25 Td (of ) Tj ET Q q 0 0 0 rg BT 222.44 143.25 Td (these ) Tj ET Q q 0 0 0 rg BT 245.49 143.25 Td (warrants ) Tj ET Q q 0 0 0 rg BT 282.42 143.25 Td (on ) Tj ET Q q 0 0 0 rg BT 294.92 143.25 Td (their ) Tj ET Q q 0 0 0 rg BT 315.74 143.25 Td (issuance ) Tj ET Q q 0 0 0 rg BT 352.12 143.25 Td (date ) Tj ET Q q 0 0 0 rg BT 371.27 143.25 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.33 143.25 Td ($2,344,899) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.33 143.25 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 119.25 Td (The ) Tj ET Q q 0 0 0 rg BT 67.89 119.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 109.11 119.25 Td (originally ) Tj ET Q q 0 0 0 rg BT 150.34 119.25 Td (filed ) Tj ET Q q 0 0 0 rg BT 171.00 119.25 Td (a ) Tj ET Q q 0 0 0 rg BT 177.78 119.25 Td (registration ) Tj ET Q q 0 0 0 rg BT 225.66 119.25 Td (statement ) Tj ET Q q 0 0 0 rg BT 266.32 119.25 Td (on ) Tj ET Q q 0 0 0 rg BT 278.66 119.25 Td (Form ) Tj ET Q q 0 0 0 rg BT 302.67 119.25 Td (S-1 ) Tj ET Q q 0 0 0 rg BT 318.91 119.25 Td ( ) Tj ET Q q 0 0 0 rg BT 321.25 119.25 Td (\(No. ) Tj ET Q q 0 0 0 rg BT 341.64 119.25 Td (333-191743\) ) Tj ET Q q 0 0 0 rg BT 395.64 119.25 Td (with ) Tj ET Q q 0 0 0 rg BT 415.76 119.25 Td (the ) Tj ET Q q 0 0 0 rg BT 430.31 119.25 Td (SEC ) Tj ET Q q 0 0 0 rg BT 451.00 119.25 Td (on ) Tj ET Q q 0 0 0 rg BT 463.34 119.25 Td (October ) Tj ET Q q 0 0 0 rg BT 497.88 119.25 Td (16, ) Tj ET Q q 0 0 0 rg BT 512.72 119.25 Td (2013, ) Tj ET Q q 0 0 0 rg BT 537.56 119.25 Td (which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 107.25 Td (was ) Tj ET Q q 0 0 0 rg BT 68.07 107.25 Td (declared ) Tj ET Q q 0 0 0 rg BT 104.45 107.25 Td (ef) Tj ET Q q 0 0 0 rg BT 112.04 107.25 Td (fective ) Tj ET Q q 0 0 0 rg BT 141.76 107.25 Td (by ) Tj ET Q q 0 0 0 rg BT 154.28 107.25 Td (the ) Tj ET Q q 0 0 0 rg BT 169.01 107.25 Td (SEC ) Tj ET Q q 0 0 0 rg BT 189.87 107.25 Td (on ) Tj ET Q q 0 0 0 rg BT 202.39 107.25 Td (November ) Tj ET Q q 0 0 0 rg BT 247.12 107.25 Td (8, ) Tj ET Q q 0 0 0 rg BT 257.13 107.25 Td (2013 ) Tj ET Q q 0 0 0 rg BT 279.65 107.25 Td (for ) Tj ET Q q 0 0 0 rg BT 293.83 107.25 Td (the ) Tj ET Q q 0 0 0 rg BT 308.57 107.25 Td (registration ) Tj ET Q q 0 0 0 rg BT 356.63 107.25 Td (of ) Tj ET Q q 0 0 0 rg BT 367.48 107.25 Td (the ) Tj ET Q q 0 0 0 rg BT 382.21 107.25 Td (resale ) Tj ET Q q 0 0 0 rg BT 408.05 107.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.89 107.25 Td (174,732) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.39 107.25 Td ( ) Tj ET Q q 0 0 0 rg BT 453.91 107.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 481.42 107.25 Td (underlying ) Tj ET Q q 0 0 0 rg BT 527.27 107.25 Td (the ) Tj ET Q q 0 0 0 rg BT 542.00 107.25 Td (2013 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 95.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 95.25 Td (arrants. ) Tj ET Q q 0 0 0 rg BT 91.14 95.25 Td (The ) Tj ET Q q 0 0 0 rg BT 109.70 95.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 151.61 95.25 Td (subsequently ) Tj ET Q q 0 0 0 rg BT 206.84 95.25 Td (filed ) Tj ET Q q 0 0 0 rg BT 228.18 95.25 Td (a ) Tj ET Q q 0 0 0 rg BT 235.63 95.25 Td (registration ) Tj ET Q q 0 0 0 rg BT 284.19 95.25 Td (statement ) Tj ET Q q 0 0 0 rg BT 325.52 95.25 Td (on ) Tj ET Q q 0 0 0 rg BT 338.54 95.25 Td (Form ) Tj ET Q q 0 0 0 rg BT 363.22 95.25 Td (S-1 ) Tj ET Q q 0 0 0 rg BT 380.13 95.25 Td (\(No. ) Tj ET Q q 0 0 0 rg BT 401.20 95.25 Td (333-197482\) ) Tj ET Q q 0 0 0 rg BT 455.87 95.25 Td (related ) Tj ET Q q 0 0 0 rg BT 486.09 95.25 Td (to ) Tj ET Q q 0 0 0 rg BT 496.88 95.25 Td (the ) Tj ET Q q 0 0 0 rg BT 512.12 95.25 Td (resale ) Tj ET Q q 0 0 0 rg BT 538.45 95.25 Td (of ) Tj ET Q q 0 0 0 rg BT 549.79 95.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 83.25 Td (remaining ) Tj ET Q q 0 0 0 rg BT 92.91 83.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 120.27 83.25 Td (underlying ) Tj ET Q q 0 0 0 rg BT 165.97 83.25 Td (the ) Tj ET Q q 0 0 0 rg BT 180.55 83.25 Td (2013 ) Tj ET Q q 0 0 0 rg BT 202.75 83.25 Td (W) Tj ET Q q 0 0 0 rg BT 211.39 83.25 Td (arrants ) Tj ET Q q 0 0 0 rg BT 240.97 83.25 Td (on ) Tj ET Q q 0 0 0 rg BT 253.33 83.25 Td (July ) Tj ET Q q 0 0 0 rg BT 272.37 83.25 Td (17, ) Tj ET Q q 0 0 0 rg BT 287.24 83.25 Td (2014, ) Tj ET Q q 0 0 0 rg BT 312.11 83.25 Td (which ) Tj ET Q q 0 0 0 rg BT 338.92 83.25 Td (was ) Tj ET Q q 0 0 0 rg BT 356.84 83.25 Td (declared ) Tj ET Q q 0 0 0 rg BT 393.08 83.25 Td (ef) Tj ET Q q 0 0 0 rg BT 400.66 83.25 Td (fective ) Tj ET Q q 0 0 0 rg BT 430.23 83.25 Td (by ) Tj ET Q q 0 0 0 rg BT 442.60 83.25 Td (the ) Tj ET Q q 0 0 0 rg BT 457.19 83.25 Td (SEC ) Tj ET Q q 0 0 0 rg BT 477.90 83.25 Td (on ) Tj ET Q q 0 0 0 rg BT 490.27 83.25 Td (July ) Tj ET Q q 0 0 0 rg BT 509.31 83.25 Td (29, ) Tj ET Q q 0 0 0 rg BT 524.18 83.25 Td (2014. ) Tj ET Q q 0 0 0 rg BT 549.05 83.25 Td ( ) Tj ET Q q 0 0 0 rg BT 550.90 83.25 Td (As ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 71.25 Td (a ) Tj ET Q q 0 0 0 rg BT 57.81 71.25 Td (result ) Tj ET Q q 0 0 0 rg BT 83.40 71.25 Td (of ) Tj ET Q q 0 0 0 rg BT 95.10 71.25 Td (the ) Tj ET Q q 0 0 0 rg BT 110.68 71.25 Td (registration, ) Tj ET Q q 0 0 0 rg BT 162.10 71.25 Td (the ) Tj ET Q q 0 0 0 rg BT 177.68 71.25 Td (2013 ) Tj ET Q q 0 0 0 rg BT 200.81 71.25 Td (W) Tj ET Q q 0 0 0 rg BT 209.45 71.25 Td (arrants ) Tj ET Q q 0 0 0 rg BT 240.03 71.25 Td (no ) Tj ET Q q 0 0 0 rg BT 253.40 71.25 Td (longer ) Tj ET Q q 0 0 0 rg BT 282.31 71.25 Td (require ) Tj ET Q q 0 0 0 rg BT 314.00 71.25 Td (liability ) Tj ET Q q 0 0 0 rg BT 348.48 71.25 Td (classification ) Tj ET Q q 0 0 0 rg BT 404.61 71.25 Td (and ) Tj ET Q q 0 0 0 rg BT 422.42 71.25 Td (their ) Tj ET Q q 0 0 0 rg BT 444.11 71.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 461.36 71.25 Td (value ) Tj ET Q q 0 0 0 rg BT 486.39 71.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.09 71.25 Td ($3,166,482) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.09 71.25 Td ( ) Tj ET Q q 0 0 0 rg BT 546.46 71.25 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 59.25 Td (reclassified ) Tj ET Q q 0 0 0 rg BT 98.03 59.25 Td (to ) Tj ET Q q 0 0 0 rg BT 108.31 59.25 Td (equity ) Tj ET Q q 0 0 0 rg BT 135.81 59.25 Td (in ) Tj ET Q q 0 0 0 rg BT 146.08 59.25 Td (July ) Tj ET Q q 0 0 0 rg BT 165.25 59.25 Td (2014. ) Tj ET Q endstream endobj 33 0 obj <> endobj 34 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 283.05 772.75 Td (IZEA, Inc.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 181.55 760.75 Td (Notes to the Unaudited Consolidated Financial Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (14) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 731.10 Td (2012 ) Tj ET Q q 0 0 0 rg BT 72.32 731.10 Td (Activity:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 719.10 Td (The ) Tj ET Q q 0 0 0 rg BT 68.11 719.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 109.55 719.10 Td (determined ) Tj ET Q q 0 0 0 rg BT 157.09 719.10 Td (that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.65 719.10 Td (1) Tj ET Q q 0 0 0 rg BT 179.28 719.10 Td (10,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.78 719.10 Td ( ) Tj ET Q q 0 0 0 rg BT 209.34 719.10 Td (warrant ) Tj ET Q q 0 0 0 rg BT 242.44 719.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 269.99 719.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 297.55 719.10 Td (in ) Tj ET Q q 0 0 0 rg BT 307.88 719.10 Td (its ) Tj ET Q q 0 0 0 rg BT 319.89 719.10 Td (September ) Tj ET Q q 0 0 0 rg BT 365.22 719.10 Td (2012 ) Tj ET Q q 0 0 0 rg BT 387.78 719.10 Td (public ) Tj ET Q q 0 0 0 rg BT 415.33 719.10 Td (of) Tj ET Q q 0 0 0 rg BT 423.48 719.10 Td (fering ) Tj ET Q q 0 0 0 rg BT 449.92 719.10 Td (still ) Tj ET Q q 0 0 0 rg BT 467.48 719.10 Td (require ) Tj ET Q q 0 0 0 rg BT 498.36 719.10 Td (classification ) Tj ET Q q 0 0 0 rg BT 553.68 719.10 Td (as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 707.10 Td (a ) Tj ET Q q 0 0 0 rg BT 56.92 707.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 90.50 707.10 Td (due ) Tj ET Q q 0 0 0 rg BT 107.42 707.10 Td (to ) Tj ET Q q 0 0 0 rg BT 117.67 707.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 147.35 707.10 Td (registration ) Tj ET Q q 0 0 0 rg BT 195.37 707.10 Td (rights ) Tj ET Q q 0 0 0 rg BT 220.63 707.10 Td (and ) Tj ET Q q 0 0 0 rg BT 237.54 707.10 Td (listing ) Tj ET Q q 0 0 0 rg BT 265.02 707.10 Td (requirements ) Tj ET Q q 0 0 0 rg BT 319.70 707.10 Td (in ) Tj ET Q q 0 0 0 rg BT 329.96 707.10 Td (the ) Tj ET Q q 0 0 0 rg BT 344.65 707.10 Td (agreements. ) Tj ET Q q 0 0 0 rg BT 395.16 707.10 Td ( ) Tj ET Q q 0 0 0 rg BT 397.46 707.10 Td (The ) Tj ET Q q 0 0 0 rg BT 415.48 707.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 431.84 707.10 Td (value ) Tj ET Q q 0 0 0 rg BT 455.97 707.10 Td (and ) Tj ET Q q 0 0 0 rg BT 472.88 707.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 522.03 707.10 Td (derivative ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 695.10 Td (warrant ) Tj ET Q q 0 0 0 rg BT 83.04 695.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 116.65 695.10 Td (related ) Tj ET Q q 0 0 0 rg BT 146.35 695.10 Td (to ) Tj ET Q q 0 0 0 rg BT 156.63 695.10 Td (these ) Tj ET Q q 0 0 0 rg BT 179.67 695.10 Td (warrant ) Tj ET Q q 0 0 0 rg BT 212.71 695.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 240.20 695.10 Td (as ) Tj ET Q q 0 0 0 rg BT 251.03 695.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.86 695.10 Td (September30, ) Tj ET Q q 0 0 0 rg BT 322.12 695.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.12 695.10 Td ( ) Tj ET Q q 0 0 0 rg BT 344.62 695.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.68 695.10 Td ($10,780) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.18 695.10 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 671.10 Td (201) Tj ET Q q 0 0 0 rg BT 64.26 671.10 Td (1 ) Tj ET Q q 0 0 0 rg BT 71.58 671.10 Td (Activity:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 659.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.78 659.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 108.90 659.10 Td (determined ) Tj ET Q q 0 0 0 rg BT 156.11 659.10 Td (that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.34 659.10 Td (13,554) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.84 659.10 Td ( ) Tj ET Q q 0 0 0 rg BT 203.07 659.10 Td (warrant ) Tj ET Q q 0 0 0 rg BT 235.84 659.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 263.07 659.10 Td (remaining ) Tj ET Q q 0 0 0 rg BT 305.84 659.10 Td (from ) Tj ET Q q 0 0 0 rg BT 327.51 659.10 Td (its ) Tj ET Q q 0 0 0 rg BT 339.19 659.10 Td (May ) Tj ET Q q 0 0 0 rg BT 359.76 659.10 Td (201) Tj ET Q q 0 0 0 rg BT 374.39 659.10 Td (1 ) Tj ET Q q 0 0 0 rg BT 381.62 659.10 Td (Stock ) Tj ET Q q 0 0 0 rg BT 406.63 659.10 Td (Of) Tj ET Q q 0 0 0 rg BT 417.00 659.10 Td (fering ) Tj ET Q q 0 0 0 rg BT 443.11 659.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.78 659.10 Td (250) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.78 659.10 Td ( ) Tj ET Q q 0 0 0 rg BT 477.02 659.10 Td (warrant ) Tj ET Q q 0 0 0 rg BT 509.79 659.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 537.01 659.10 Td (issued ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 647.10 Td (in ) Tj ET Q q 0 0 0 rg BT 60.88 647.10 Td (July ) Tj ET Q q 0 0 0 rg BT 80.64 647.10 Td (201) Tj ET Q q 0 0 0 rg BT 95.27 647.10 Td (1 ) Tj ET Q q 0 0 0 rg BT 103.37 647.10 Td (for ) Tj ET Q q 0 0 0 rg BT 118.13 647.10 Td (a ) Tj ET Q q 0 0 0 rg BT 125.66 647.10 Td (customer ) Tj ET Q q 0 0 0 rg BT 165.41 647.10 Td (list ) Tj ET Q q 0 0 0 rg BT 180.74 647.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 227.72 647.10 Td (still ) Tj ET Q q 0 0 0 rg BT 245.82 647.10 Td (require ) Tj ET Q q 0 0 0 rg BT 277.23 647.10 Td (classification ) Tj ET Q q 0 0 0 rg BT 333.09 647.10 Td (as ) Tj ET Q q 0 0 0 rg BT 344.51 647.10 Td (a ) Tj ET Q q 0 0 0 rg BT 352.05 647.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 386.26 647.10 Td (due ) Tj ET Q q 0 0 0 rg BT 403.79 647.10 Td (to ) Tj ET Q q 0 0 0 rg BT 414.67 647.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 444.97 647.10 Td (registration ) Tj ET Q q 0 0 0 rg BT 493.61 647.10 Td (rights ) Tj ET Q q 0 0 0 rg BT 519.48 647.10 Td (and ) Tj ET Q q 0 0 0 rg BT 537.02 647.10 Td (listing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 635.10 Td (requirements ) Tj ET Q q 0 0 0 rg BT 104.86 635.10 Td (in ) Tj ET Q q 0 0 0 rg BT 115.29 635.10 Td (the ) Tj ET Q q 0 0 0 rg BT 130.16 635.10 Td (agreements. ) Tj ET Q q 0 0 0 rg BT 180.85 635.10 Td ( ) Tj ET Q q 0 0 0 rg BT 183.31 635.10 Td (The ) Tj ET Q q 0 0 0 rg BT 201.52 635.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 218.05 635.10 Td (value ) Tj ET Q q 0 0 0 rg BT 242.36 635.10 Td (and ) Tj ET Q q 0 0 0 rg BT 259.45 635.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 308.77 635.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 351.41 635.10 Td (warrant ) Tj ET Q q 0 0 0 rg BT 384.60 635.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 418.36 635.10 Td (related ) Tj ET Q q 0 0 0 rg BT 448.22 635.10 Td (to ) Tj ET Q q 0 0 0 rg BT 458.66 635.10 Td (these ) Tj ET Q q 0 0 0 rg BT 481.86 635.10 Td (warrant ) Tj ET Q q 0 0 0 rg BT 515.05 635.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 542.70 635.10 Td (as ) Tj ET Q q 0 0 0 rg BT 553.68 635.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 623.10 Td (September30, ) Tj ET Q q 0 0 0 rg BT 110.26 623.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.26 623.10 Td ( ) Tj ET Q q 0 0 0 rg BT 132.76 623.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.82 623.10 Td ($0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 160.82 623.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 599.10 Td (During ) Tj ET Q q 0 0 0 rg BT 82.35 599.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.58 599.10 Td (three ) Tj ET Q q 0 0 0 rg BT 122.59 599.10 Td (months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 152.03 599.10 Td ( ) Tj ET Q q 0 0 0 rg BT 156.05 599.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.95 599.10 Td (September30, ) Tj ET Q q 0 0 0 rg BT 245.73 599.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.73 599.10 Td ( ) Tj ET Q q 0 0 0 rg BT 269.75 599.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.20 599.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.20 599.10 Td (, ) Tj ET Q q 0 0 0 rg BT 314.72 599.10 Td (the ) Tj ET Q q 0 0 0 rg BT 330.96 599.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 373.86 599.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 412.86 599.10 Td (a ) Tj ET Q q 0 0 0 rg BT 421.31 599.10 Td (gain ) Tj ET Q q 0 0 0 rg BT 442.55 599.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.90 599.10 Td ($1) Tj ET Q q 0 0 0 rg BT 464.52 599.10 Td (15,904) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.02 599.10 Td ( ) Tj ET Q q 0 0 0 rg BT 496.04 599.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.50 599.10 Td ($2,250,344) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.50 599.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 587.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 97.66 587.10 Td (, ) Tj ET Q q 0 0 0 rg BT 102.97 587.10 Td (due ) Tj ET Q q 0 0 0 rg BT 120.22 587.10 Td (to ) Tj ET Q q 0 0 0 rg BT 130.81 587.10 Td (the ) Tj ET Q q 0 0 0 rg BT 145.83 587.10 Td (change ) Tj ET Q q 0 0 0 rg BT 176.96 587.10 Td (in ) Tj ET Q q 0 0 0 rg BT 187.55 587.10 Td (the ) Tj ET Q q 0 0 0 rg BT 202.58 587.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 219.26 587.10 Td (value ) Tj ET Q q 0 0 0 rg BT 243.73 587.10 Td (of ) Tj ET Q q 0 0 0 rg BT 254.87 587.10 Td (its ) Tj ET Q q 0 0 0 rg BT 267.13 587.10 Td (warrant ) Tj ET Q q 0 0 0 rg BT 300.47 587.10 Td (liability) Tj ET Q q 0 0 0 rg BT 330.93 587.10 Td (. ) Tj ET Q q 0 0 0 rg BT 336.24 587.10 Td ( ) Tj ET Q q 0 0 0 rg BT 339.05 587.10 Td (During ) Tj ET Q q 0 0 0 rg BT 370.19 587.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.22 587.10 Td (nine ) Tj ET Q q 0 0 0 rg BT 405.25 587.10 Td (months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.69 587.10 Td ( ) Tj ET Q q 0 0 0 rg BT 437.50 587.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.19 587.10 Td (September30, ) Tj ET Q q 0 0 0 rg BT 524.77 587.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.77 587.10 Td ( ) Tj ET Q q 0 0 0 rg BT 547.58 587.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 575.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 575.10 Td (, ) Tj ET Q q 0 0 0 rg BT 74.76 575.10 Td (the ) Tj ET Q q 0 0 0 rg BT 89.24 575.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 130.38 575.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 167.62 575.10 Td (a ) Tj ET Q q 0 0 0 rg BT 174.32 575.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 192.14 575.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.73 575.10 Td ($2,139,540) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.73 575.10 Td ( ) Tj ET Q q 0 0 0 rg BT 249.99 575.10 Td (and ) Tj ET Q q 0 0 0 rg BT 266.69 575.10 Td (a ) Tj ET Q q 0 0 0 rg BT 273.38 575.10 Td (gain ) Tj ET Q q 0 0 0 rg BT 292.86 575.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.45 575.10 Td ($5,625,555) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.45 575.10 Td (, ) Tj ET Q q 0 0 0 rg BT 353.21 575.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 400.87 575.10 Td (, ) Tj ET Q q 0 0 0 rg BT 405.63 575.10 Td (due ) Tj ET Q q 0 0 0 rg BT 422.33 575.10 Td (to ) Tj ET Q q 0 0 0 rg BT 432.37 575.10 Td (the ) Tj ET Q q 0 0 0 rg BT 446.84 575.10 Td (change ) Tj ET Q q 0 0 0 rg BT 477.42 575.10 Td (in ) Tj ET Q q 0 0 0 rg BT 487.46 575.10 Td (the ) Tj ET Q q 0 0 0 rg BT 501.93 575.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 518.07 575.10 Td (value ) Tj ET Q q 0 0 0 rg BT 541.99 575.10 Td (of ) Tj ET Q q 0 0 0 rg BT 552.58 575.10 Td (its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 563.10 Td (warrant ) Tj ET Q q 0 0 0 rg BT 83.04 563.10 Td (liability) Tj ET Q q 0 0 0 rg BT 113.50 563.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 539.10 Td (The ) Tj ET Q q 0 0 0 rg BT 68.25 539.10 Td (following ) Tj ET Q q 0 0 0 rg BT 109.85 539.10 Td (table ) Tj ET Q q 0 0 0 rg BT 131.99 539.10 Td (summarizes ) Tj ET Q q 0 0 0 rg BT 182.46 539.10 Td (the ) Tj ET Q q 0 0 0 rg BT 197.38 539.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 244.67 539.10 Td (activity ) Tj ET Q q 0 0 0 rg BT 277.36 539.10 Td (and ) Tj ET Q q 0 0 0 rg BT 294.51 539.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 311.09 539.10 Td (value ) Tj ET Q q 0 0 0 rg BT 335.45 539.10 Td (calculations ) Tj ET Q q 0 0 0 rg BT 385.92 539.10 Td (of ) Tj ET Q q 0 0 0 rg BT 396.96 539.10 Td (its ) Tj ET Q q 0 0 0 rg BT 409.11 539.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 451.80 539.10 Td (warrants ) Tj ET Q q 0 0 0 rg BT 488.93 539.10 Td (for ) Tj ET Q q 0 0 0 rg BT 503.30 539.10 Td (the ) Tj ET Q q 0 0 0 rg BT 518.22 539.10 Td (year ) Tj ET Q q 0 0 0 rg BT 538.14 539.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 527.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 108.58 527.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.58 527.10 Td ( ) Tj ET Q q 0 0 0 rg BT 131.08 527.10 Td (and ) Tj ET Q q 0 0 0 rg BT 148.02 527.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.74 527.10 Td (nine ) Tj ET Q q 0 0 0 rg BT 182.46 527.10 Td (months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.90 527.10 Td ( ) Tj ET Q q 0 0 0 rg BT 214.40 527.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.78 527.10 Td (September30, ) Tj ET Q q 0 0 0 rg BT 301.04 527.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.04 527.10 Td (: ) Tj ET Q q 0 0 0 rg BT 326.32 527.10 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 481.60 332.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.50 481.60 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 481.60 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 453.60 332.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.50 453.60 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 453.60 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 425.60 332.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.50 425.60 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 425.60 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 397.60 332.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.50 397.60 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 397.60 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 369.60 332.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.50 369.60 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 369.60 90.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 481.6 m 472.5 481.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 481.6 m 562.5 481.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 481.6 m 472.5 481.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 481.6 m 562.5 481.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 425.6 m 472.5 425.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 425.6 m 562.5 425.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 425.6 m 472.5 425.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 425.6 m 562.5 425.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 355.6 m 472.5 355.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 355.6 m 562.5 355.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 355.6 m 472.5 355.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 342.6 m 472.5 342.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382.5 340.6 m 472.5 340.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 355.6 m 562.5 355.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 342.6 m 562.5 342.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 340.6 m 562.5 340.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 486.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.95 506.27 Td (Linked Common) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.50 496.27 Td (Shares to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.80 486.27 Td (Derivative ) Tj ET Q q 0 0 0 rg BT 431.32 486.27 Td (W) Tj ET Q q 0 0 0 rg BT 439.96 486.27 Td (arrants) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.00 496.27 Td (W) Tj ET Q q 0 0 0 rg BT 509.64 496.27 Td (arrant) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.75 486.27 Td (Liability) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 472.17 Td (Balance, December 31, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.65 472.17 Td (14,360,276) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.00 472.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 472.17 Td (1,832,945) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 458.17 Td (Issuance of warrants to investors in 2014 Private Placement) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.65 458.17 Td (35,786,750) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.65 458.17 Td (12,382,216) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 444.17 Td (Reclassification of fair value of 2013 Private Placement warrants to equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.30 444.22 Td (\(14,236,472) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.65 444.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.30 444.22 Td (\(3,166,482) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 444.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 430.17 Td (Change in fair value of derivatives) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 430.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.30 430.22 Td (\(7,845,214) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 430.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 416.17 Td (Balance, December 31, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.65 416.17 Td (35,910,554) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.00 416.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 416.17 Td (3,203,465) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 402.17 Td (Exercise of warrants for common stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.30 402.22 Td (\(27,856,294) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.65 402.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.30 402.22 Td (\(5,348,408) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 402.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 388.17 Td (Loss on exchange of warrants) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 388.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 388.17 Td (1,197,821) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 374.17 Td (Reclassification of fair value of 2014 Private Placement warrants to equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.30 374.22 Td (\(7,930,456) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.65 374.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.30 374.22 Td (\(1,181,638) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 374.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 360.17 Td (Change in fair value of derivatives) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 360.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 360.17 Td (2,139,540) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 346.17 Td (Balance, September 30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.15 346.17 Td (123,804) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.00 346.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 346.17 Td (10,780) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 318.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.66 318.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 114.36 318.10 Td (warrants ) Tj ET Q q 0 0 0 rg BT 150.91 318.10 Td (were ) Tj ET Q q 0 0 0 rg BT 172.45 318.10 Td (valued ) Tj ET Q q 0 0 0 rg BT 201.22 318.10 Td (on ) Tj ET Q q 0 0 0 rg BT 213.34 318.10 Td (the ) Tj ET Q q 0 0 0 rg BT 227.67 318.10 Td (applicable ) Tj ET Q q 0 0 0 rg BT 270.88 318.10 Td (dates ) Tj ET Q q 0 0 0 rg BT 293.54 318.10 Td (using ) Tj ET Q q 0 0 0 rg BT 317.33 318.10 Td (a ) Tj ET Q q 0 0 0 rg BT 323.88 318.10 Td (Binomial ) Tj ET Q q 0 0 0 rg BT 363.22 318.10 Td (Lattice ) Tj ET Q q 0 0 0 rg BT 393.10 318.10 Td (Option ) Tj ET Q q 0 0 0 rg BT 422.84 318.10 Td (V) Tj ET Q q 0 0 0 rg BT 428.95 318.10 Td (aluation ) Tj ET Q q 0 0 0 rg BT 463.13 318.10 Td (T) Tj ET Q q 0 0 0 rg BT 468.54 318.10 Td (echnique ) Tj ET Q q 0 0 0 rg BT 506.75 318.10 Td (\(Binomial\). ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 306.10 Td (Significant ) Tj ET Q q 0 0 0 rg BT 96.38 306.10 Td (inputs ) Tj ET Q q 0 0 0 rg BT 123.33 306.10 Td (into ) Tj ET Q q 0 0 0 rg BT 141.39 306.10 Td (this ) Tj ET Q q 0 0 0 rg BT 158.33 306.10 Td (technique ) Tj ET Q q 0 0 0 rg BT 199.71 306.10 Td (as ) Tj ET Q q 0 0 0 rg BT 210.54 306.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.37 306.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 279.95 306.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.95 306.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.40 306.10 Td (August14, ) Tj ET Q q 0 0 0 rg BT 350.79 306.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.79 306.10 Td ( ) Tj ET Q q 0 0 0 rg BT 373.29 306.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.23 306.10 Td (September30, ) Tj ET Q q 0 0 0 rg BT 450.49 306.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.49 306.10 Td ( ) Tj ET Q q 0 0 0 rg BT 472.99 306.10 Td (were ) Tj ET Q q 0 0 0 rg BT 494.92 306.10 Td (as ) Tj ET Q q 0 0 0 rg BT 505.75 306.10 Td (follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 247.60 279.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.50 247.60 79.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 247.60 77.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 247.60 77.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 218.60 279.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.50 218.60 79.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 218.60 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 218.60 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 189.60 279.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.50 189.60 79.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 189.60 77.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 189.60 77.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 160.60 279.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 329.50 160.60 79.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.50 160.60 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.50 160.60 77.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 261.6 m 329.5 261.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 261.6 m 408.5 261.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 261.6 m 485.5 261.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 261.6 m 562.5 261.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 329.5 261.6 m 408.5 261.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408.5 261.6 m 485.5 261.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 261.6 m 562.5 261.6 l s BT /F4 10.00 Tf ET q 0 0 0 rg BT 53.00 266.28 Td (Binomial Assumptions) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 339.40 276.28 Td (December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 358.50 266.28 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.70 276.28 Td (August 14,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 436.50 266.28 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 493.00 276.28 Td (September 30,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 513.50 266.28 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 252.17 Td (Fair market value of asset) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 156.30 256.70 Td ( \(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.25 252.17 Td ($0.28) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.25 252.17 Td ($0.42) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.25 252.17 Td ($0.42) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 238.17 Td (Exercise price) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.30 238.17 Td ($0.35-$1.25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.30 238.17 Td ($0.25-$0.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.25 238.17 Td ($1.25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 223.27 Td (T) Tj ET Q q 0 0 0 rg BT 58.41 223.27 Td (erm) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 73.96 227.80 Td ( \(2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.00 223.27 Td (2.7 - 4.2 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.45 223.27 Td (3.5 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.45 223.27 Td (1.9 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 208.27 Td (Implied expected life) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 137.96 212.80 Td ( \(3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.00 208.27 Td (2.7 - 4.2 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.45 208.27 Td (3.5 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.45 208.27 Td (1.9 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 194.17 Td (V) Tj ET Q q 0 0 0 rg BT 58.93 194.17 Td (olatility range of inputs) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 152.53 198.70 Td ( \(4\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.80 194.17 Td (42%--71%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.80 194.17 Td (41%--50%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.05 194.17 Td (95.72%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 180.17 Td (Equivalent volatility) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 134.93 184.70 Td ( \(3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.80 180.17 Td (48%--54%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.05 180.17 Td (47.00%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.05 180.17 Td (96.00%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 165.27 Td (Risk-free interest rate range of inputs) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 202.11 169.80 Td ( \(5\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.30 165.27 Td (1.10%--1.38%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.55 165.27 Td (1.08%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.25 165.27 Td ($0.01) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 150.27 Td (Equivalent risk-free interest rate) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 182.11 154.80 Td ( \(3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.30 150.27 Td (1.10%--1.38%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.55 150.27 Td (1.08%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.25 150.27 Td ($0.01) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 128.10 Td (\(1\)) Tj ET Q q 0 0 0 rg BT 84.48 128.10 Td (The ) Tj ET Q q 0 0 0 rg BT 102.80 128.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 119.46 128.10 Td (market ) Tj ET Q q 0 0 0 rg BT 149.99 128.10 Td (value ) Tj ET Q q 0 0 0 rg BT 174.43 128.10 Td (of ) Tj ET Q q 0 0 0 rg BT 185.53 128.10 Td (the ) Tj ET Q q 0 0 0 rg BT 200.52 128.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 222.74 128.10 Td (was ) Tj ET Q q 0 0 0 rg BT 241.07 128.10 Td (determined ) Tj ET Q q 0 0 0 rg BT 288.82 128.10 Td (by ) Tj ET Q q 0 0 0 rg BT 301.60 128.10 Td (using ) Tj ET Q q 0 0 0 rg BT 326.04 128.10 Td (the ) Tj ET Q q 0 0 0 rg BT 341.04 128.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 388.39 128.10 Td (closing ) Tj ET Q q 0 0 0 rg BT 420.06 128.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 443.94 128.10 Td (price ) Tj ET Q q 0 0 0 rg BT 466.70 128.10 Td (as ) Tj ET Q q 0 0 0 rg BT 477.81 128.10 Td (reflected ) Tj ET Q q 0 0 0 rg BT 515.55 128.10 Td (in ) Tj ET Q q 0 0 0 rg BT 526.11 128.10 Td (the ) Tj ET Q q 0 0 0 rg BT 541.10 128.10 Td (over) Tj ET Q q 0 0 0 rg BT 558.67 128.10 Td (-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 116.10 Td (the-counter ) Tj ET Q q 0 0 0 rg BT 116.03 116.10 Td (market.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 98.10 Td (\(2\)) Tj ET Q q 0 0 0 rg BT 84.48 98.10 Td (The ) Tj ET Q q 0 0 0 rg BT 103.34 98.10 Td (term ) Tj ET Q q 0 0 0 rg BT 124.97 98.10 Td (is ) Tj ET Q q 0 0 0 rg BT 134.95 98.10 Td (the ) Tj ET Q q 0 0 0 rg BT 150.48 98.10 Td (contractual ) Tj ET Q q 0 0 0 rg BT 198.21 98.10 Td (remaining ) Tj ET Q q 0 0 0 rg BT 242.06 98.10 Td (term, ) Tj ET Q q 0 0 0 rg BT 266.20 98.10 Td (allocated ) Tj ET Q q 0 0 0 rg BT 305.60 98.10 Td (among ) Tj ET Q q 0 0 0 rg BT 336.13 98.10 Td (twelve ) Tj ET Q q 0 0 0 rg BT 366.09 98.10 Td (equal ) Tj ET Q q 0 0 0 rg BT 391.06 98.10 Td (intervals ) Tj ET Q q 0 0 0 rg BT 428.80 98.10 Td (for ) Tj ET Q q 0 0 0 rg BT 443.77 98.10 Td (purposes ) Tj ET Q q 0 0 0 rg BT 482.63 98.10 Td (of ) Tj ET Q q 0 0 0 rg BT 494.27 98.10 Td (calculating ) Tj ET Q q 0 0 0 rg BT 541.45 98.10 Td (other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 86.10 Td (inputs, ) Tj ET Q q 0 0 0 rg BT 97.45 86.10 Td (such ) Tj ET Q q 0 0 0 rg BT 118.28 86.10 Td (as ) Tj ET Q q 0 0 0 rg BT 129.11 86.10 Td (volatility ) Tj ET Q q 0 0 0 rg BT 167.72 86.10 Td (and ) Tj ET Q q 0 0 0 rg BT 184.66 86.10 Td (risk-free ) Tj ET Q q 0 0 0 rg BT 221.02 86.10 Td (rate.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 68.10 Td (\(3\)) Tj ET Q q 0 0 0 rg BT 84.48 68.10 Td (The ) Tj ET Q q 0 0 0 rg BT 102.53 68.10 Td (implied ) Tj ET Q q 0 0 0 rg BT 135.58 68.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 173.61 68.10 Td (life, ) Tj ET Q q 0 0 0 rg BT 191.94 68.10 Td (and ) Tj ET Q q 0 0 0 rg BT 208.87 68.10 Td (equivalent ) Tj ET Q q 0 0 0 rg BT 253.02 68.10 Td (volatility ) Tj ET Q q 0 0 0 rg BT 291.63 68.10 Td (and ) Tj ET Q q 0 0 0 rg BT 308.57 68.10 Td (risk-free ) Tj ET Q q 0 0 0 rg BT 344.94 68.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 376.87 68.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 394.36 68.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 430.74 68.10 Td (are ) Tj ET Q q 0 0 0 rg BT 445.45 68.10 Td (derived ) Tj ET Q q 0 0 0 rg BT 477.94 68.10 Td (from ) Tj ET Q q 0 0 0 rg BT 499.88 68.10 Td (the ) Tj ET Q q 0 0 0 rg BT 514.59 68.10 Td (binomial.) Tj ET Q endstream endobj 35 0 obj <> endobj 36 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 283.05 772.75 Td (IZEA, Inc.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 181.55 760.75 Td (Notes to the Unaudited Consolidated Financial Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 731.10 Td (\(4\)) Tj ET Q q 0 0 0 rg BT 84.48 731.10 Td (The ) Tj ET Q q 0 0 0 rg BT 102.15 731.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 143.17 731.10 Td (does ) Tj ET Q q 0 0 0 rg BT 163.63 731.10 Td (not ) Tj ET Q q 0 0 0 rg BT 178.53 731.10 Td (have ) Tj ET Q q 0 0 0 rg BT 199.54 731.10 Td (a ) Tj ET Q q 0 0 0 rg BT 206.10 731.10 Td (market ) Tj ET Q q 0 0 0 rg BT 236.00 731.10 Td (trading ) Tj ET Q q 0 0 0 rg BT 266.45 731.10 Td (history ) Tj ET Q q 0 0 0 rg BT 296.36 731.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 318.48 731.10 Td (which ) Tj ET Q q 0 0 0 rg BT 345.05 731.10 Td (to ) Tj ET Q q 0 0 0 rg BT 354.96 731.10 Td (base ) Tj ET Q q 0 0 0 rg BT 374.85 731.10 Td (its ) Tj ET Q q 0 0 0 rg BT 386.43 731.10 Td (forward-looking ) Tj ET Q q 0 0 0 rg BT 454.09 731.10 Td (volatility) Tj ET Q q 0 0 0 rg BT 489.55 731.10 Td (. ) Tj ET Q q 0 0 0 rg BT 494.18 731.10 Td ( ) Tj ET Q q 0 0 0 rg BT 495.84 731.10 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 545.17 731.10 Td (, ) Tj ET Q q 0 0 0 rg BT 549.80 731.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 719.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 108.91 719.10 Td (selected ) Tj ET Q q 0 0 0 rg BT 143.13 719.10 Td (peer ) Tj ET Q q 0 0 0 rg BT 162.36 719.10 Td (companies ) Tj ET Q q 0 0 0 rg BT 207.15 719.10 Td (that ) Tj ET Q q 0 0 0 rg BT 224.17 719.10 Td (provided ) Tj ET Q q 0 0 0 rg BT 261.74 719.10 Td (a ) Tj ET Q q 0 0 0 rg BT 268.20 719.10 Td (reasonable ) Tj ET Q q 0 0 0 rg BT 312.98 719.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 335.00 719.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 357.02 719.10 Td (which ) Tj ET Q q 0 0 0 rg BT 383.48 719.10 Td (to ) Tj ET Q q 0 0 0 rg BT 393.29 719.10 Td (calculate ) Tj ET Q q 0 0 0 rg BT 430.84 719.10 Td (volatility ) Tj ET Q q 0 0 0 rg BT 468.97 719.10 Td (for ) Tj ET Q q 0 0 0 rg BT 482.65 719.10 Td (each ) Tj ET Q q 0 0 0 rg BT 502.99 719.10 Td (of ) Tj ET Q q 0 0 0 rg BT 513.34 719.10 Td (the ) Tj ET Q q 0 0 0 rg BT 527.58 719.10 Td (intervals ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 707.10 Td (described ) Tj ET Q q 0 0 0 rg BT 108.82 707.10 Td (in ) Tj ET Q q 0 0 0 rg BT 119.09 707.10 Td (\(2\), ) Tj ET Q q 0 0 0 rg BT 135.75 707.10 Td (above.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 689.10 Td (\(5\)) Tj ET Q q 0 0 0 rg BT 84.48 689.10 Td (The ) Tj ET Q q 0 0 0 rg BT 101.66 689.10 Td (risk-free ) Tj ET Q q 0 0 0 rg BT 137.15 689.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 157.66 689.10 Td (used ) Tj ET Q q 0 0 0 rg BT 177.62 689.10 Td (for ) Tj ET Q q 0 0 0 rg BT 190.91 689.10 Td (inputs ) Tj ET Q q 0 0 0 rg BT 216.99 689.10 Td (represent ) Tj ET Q q 0 0 0 rg BT 255.26 689.10 Td (the ) Tj ET Q q 0 0 0 rg BT 269.11 689.10 Td (yields ) Tj ET Q q 0 0 0 rg BT 294.63 689.10 Td (on ) Tj ET Q q 0 0 0 rg BT 306.26 689.10 Td (zero ) Tj ET Q q 0 0 0 rg BT 325.09 689.10 Td (coupon ) Tj ET Q q 0 0 0 rg BT 356.16 689.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 375.58 689.10 Td (Government ) Tj ET Q q 0 0 0 rg BT 427.19 689.10 Td (Securities ) Tj ET Q q 0 0 0 rg BT 468.25 689.10 Td (with ) Tj ET Q q 0 0 0 rg BT 487.66 689.10 Td (periods ) Tj ET Q q 0 0 0 rg BT 518.73 689.10 Td (to ) Tj ET Q q 0 0 0 rg BT 528.14 689.10 Td (maturity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 677.10 Td (consistent ) Tj ET Q q 0 0 0 rg BT 110.50 677.10 Td (with ) Tj ET Q q 0 0 0 rg BT 130.77 677.10 Td (the ) Tj ET Q q 0 0 0 rg BT 145.49 677.10 Td (intervals ) Tj ET Q q 0 0 0 rg BT 182.42 677.10 Td (described ) Tj ET Q q 0 0 0 rg BT 223.24 677.10 Td (in ) Tj ET Q q 0 0 0 rg BT 233.52 677.10 Td (\(2\), ) Tj ET Q q 0 0 0 rg BT 250.18 677.10 Td (above.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 647.10 Td (NOTE ) Tj ET Q q 0 0 0 rg BT 80.84 647.10 Td (5. ) Tj ET Q q 0 0 0 rg BT 122.00 647.10 Td (COMMITMENTS ) Tj ET Q q 0 0 0 rg BT 204.50 647.10 Td (& ) Tj ET Q q 0 0 0 rg BT 215.33 647.10 Td (CONTINGENCIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 623.10 Td (From ) Tj ET Q q 0 0 0 rg BT 73.87 623.10 Td (time ) Tj ET Q q 0 0 0 rg BT 93.85 623.10 Td (to ) Tj ET Q q 0 0 0 rg BT 103.83 623.10 Td (time, ) Tj ET Q q 0 0 0 rg BT 126.31 623.10 Td (the ) Tj ET Q q 0 0 0 rg BT 140.73 623.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 181.82 623.10 Td (may ) Tj ET Q q 0 0 0 rg BT 201.24 623.10 Td (become ) Tj ET Q q 0 0 0 rg BT 234.54 623.10 Td (involved ) Tj ET Q q 0 0 0 rg BT 271.74 623.10 Td (in ) Tj ET Q q 0 0 0 rg BT 281.72 623.10 Td (various ) Tj ET Q q 0 0 0 rg BT 313.36 623.10 Td (lawsuits ) Tj ET Q q 0 0 0 rg BT 348.34 623.10 Td (and ) Tj ET Q q 0 0 0 rg BT 364.98 623.10 Td (legal ) Tj ET Q q 0 0 0 rg BT 386.62 623.10 Td (proceedings ) Tj ET Q q 0 0 0 rg BT 437.14 623.10 Td (that ) Tj ET Q q 0 0 0 rg BT 454.34 623.10 Td (arise ) Tj ET Q q 0 0 0 rg BT 475.42 623.10 Td (in ) Tj ET Q q 0 0 0 rg BT 485.40 623.10 Td (the ) Tj ET Q q 0 0 0 rg BT 499.82 623.10 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 535.90 623.10 Td (course ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 611.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.65 611.10 Td (business. ) Tj ET Q q 0 0 0 rg BT 99.37 611.10 Td (Litigation ) Tj ET Q q 0 0 0 rg BT 141.13 611.10 Td (is, ) Tj ET Q q 0 0 0 rg BT 152.62 611.10 Td (however) Tj ET Q q 0 0 0 rg BT 186.65 611.10 Td (, ) Tj ET Q q 0 0 0 rg BT 191.47 611.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 222.11 611.10 Td (to ) Tj ET Q q 0 0 0 rg BT 232.21 611.10 Td (inherent ) Tj ET Q q 0 0 0 rg BT 267.30 611.10 Td (uncertainties, ) Tj ET Q q 0 0 0 rg BT 323.21 611.10 Td (and ) Tj ET Q q 0 0 0 rg BT 339.97 611.10 Td (an ) Tj ET Q q 0 0 0 rg BT 351.73 611.10 Td (adverse ) Tj ET Q q 0 0 0 rg BT 384.59 611.10 Td (result ) Tj ET Q q 0 0 0 rg BT 409.13 611.10 Td (in ) Tj ET Q q 0 0 0 rg BT 419.23 611.10 Td (these ) Tj ET Q q 0 0 0 rg BT 442.10 611.10 Td (or ) Tj ET Q q 0 0 0 rg BT 452.75 611.10 Td (other ) Tj ET Q q 0 0 0 rg BT 475.62 611.10 Td (matters ) Tj ET Q q 0 0 0 rg BT 507.37 611.10 Td (may ) Tj ET Q q 0 0 0 rg BT 526.91 611.10 Td (harm ) Tj ET Q q 0 0 0 rg BT 549.78 611.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 599.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 97.09 599.10 Td (business. ) Tj ET Q q 0 0 0 rg BT 135.99 599.10 Td (Other ) Tj ET Q q 0 0 0 rg BT 161.27 599.10 Td (than ) Tj ET Q q 0 0 0 rg BT 180.99 599.10 Td (as ) Tj ET Q q 0 0 0 rg BT 191.83 599.10 Td (described ) Tj ET Q q 0 0 0 rg BT 232.66 599.10 Td (below) Tj ET Q q 0 0 0 rg BT 256.44 599.10 Td (, ) Tj ET Q q 0 0 0 rg BT 261.45 599.10 Td (the ) Tj ET Q q 0 0 0 rg BT 276.18 599.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 317.57 599.10 Td (is ) Tj ET Q q 0 0 0 rg BT 326.75 599.10 Td (currently ) Tj ET Q q 0 0 0 rg BT 365.36 599.10 Td (not ) Tj ET Q q 0 0 0 rg BT 380.64 599.10 Td (aware ) Tj ET Q q 0 0 0 rg BT 407.02 599.10 Td (of ) Tj ET Q q 0 0 0 rg BT 417.86 599.10 Td (any ) Tj ET Q q 0 0 0 rg BT 434.80 599.10 Td (legal ) Tj ET Q q 0 0 0 rg BT 456.75 599.10 Td (proceedings ) Tj ET Q q 0 0 0 rg BT 507.57 599.10 Td (or ) Tj ET Q q 0 0 0 rg BT 518.41 599.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 547.02 599.10 Td (that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 587.10 Td (it ) Tj ET Q q 0 0 0 rg BT 58.02 587.10 Td (believes ) Tj ET Q q 0 0 0 rg BT 93.25 587.10 Td (would ) Tj ET Q q 0 0 0 rg BT 120.71 587.10 Td (or ) Tj ET Q q 0 0 0 rg BT 131.51 587.10 Td (could ) Tj ET Q q 0 0 0 rg BT 156.19 587.10 Td (have, ) Tj ET Q q 0 0 0 rg BT 180.03 587.10 Td (individually ) Tj ET Q q 0 0 0 rg BT 230.83 587.10 Td (or ) Tj ET Q q 0 0 0 rg BT 241.62 587.10 Td (in ) Tj ET Q q 0 0 0 rg BT 251.87 587.10 Td (the ) Tj ET Q q 0 0 0 rg BT 266.55 587.10 Td (aggregate, ) Tj ET Q q 0 0 0 rg BT 310.38 587.10 Td (a ) Tj ET Q q 0 0 0 rg BT 317.28 587.10 Td (material ) Tj ET Q q 0 0 0 rg BT 352.50 587.10 Td (adverse ) Tj ET Q q 0 0 0 rg BT 385.50 587.10 Td (ef) Tj ET Q q 0 0 0 rg BT 393.09 587.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 410.54 587.10 Td (on ) Tj ET Q q 0 0 0 rg BT 423.01 587.10 Td (its ) Tj ET Q q 0 0 0 rg BT 434.92 587.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 479.04 587.10 Td (or ) Tj ET Q q 0 0 0 rg BT 489.83 587.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 527.28 587.10 Td (position.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 563.10 Td (On ) Tj ET Q q 0 0 0 rg BT 64.35 563.10 Td (October ) Tj ET Q q 0 0 0 rg BT 98.69 563.10 Td (17, ) Tj ET Q q 0 0 0 rg BT 113.32 563.10 Td (2012, ) Tj ET Q q 0 0 0 rg BT 137.94 563.10 Td (Blue ) Tj ET Q q 0 0 0 rg BT 158.96 563.10 Td (Calypso, ) Tj ET Q q 0 0 0 rg BT 196.37 563.10 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 213.76 563.10 Td (filed ) Tj ET Q q 0 0 0 rg BT 234.22 563.10 Td (a ) Tj ET Q q 0 0 0 rg BT 240.79 563.10 Td (complaint ) Tj ET Q q 0 0 0 rg BT 282.91 563.10 Td (against ) Tj ET Q q 0 0 0 rg BT 313.36 563.10 Td (the ) Tj ET Q q 0 0 0 rg BT 327.71 563.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 368.72 563.10 Td (alleging ) Tj ET Q q 0 0 0 rg BT 403.06 563.10 Td (that ) Tj ET Q q 0 0 0 rg BT 420.19 563.10 Td (the ) Tj ET Q q 0 0 0 rg BT 434.53 563.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 475.55 563.10 Td (infringes ) Tj ET Q q 0 0 0 rg BT 513.22 563.10 Td (their ) Tj ET Q q 0 0 0 rg BT 533.68 563.10 Td (patents ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 551.10 Td (related ) Tj ET Q q 0 0 0 rg BT 80.04 551.10 Td (to ) Tj ET Q q 0 0 0 rg BT 90.65 551.10 Td (peer) Tj ET Q q 0 0 0 rg BT 107.66 551.10 Td (-to-peer ) Tj ET Q q 0 0 0 rg BT 142.14 551.10 Td (advertising ) Tj ET Q q 0 0 0 rg BT 189.40 551.10 Td (between ) Tj ET Q q 0 0 0 rg BT 225.55 551.10 Td (mobile ) Tj ET Q q 0 0 0 rg BT 256.16 551.10 Td (communication ) Tj ET Q q 0 0 0 rg BT 321.20 551.10 Td (devices. ) Tj ET Q q 0 0 0 rg BT 356.52 551.10 Td ( ) Tj ET Q q 0 0 0 rg BT 359.36 551.10 Td (On ) Tj ET Q q 0 0 0 rg BT 374.41 551.10 Td (July ) Tj ET Q q 0 0 0 rg BT 393.92 551.10 Td (19, ) Tj ET Q q 0 0 0 rg BT 409.25 551.10 Td (2013, ) Tj ET Q q 0 0 0 rg BT 434.59 551.10 Td (Blue ) Tj ET Q q 0 0 0 rg BT 456.31 551.10 Td (Calypso) Tj ET Q q 0 0 0 rg BT 491.87 551.10 Td (s ) Tj ET Q q 0 0 0 rg BT 498.59 551.10 Td (case ) Tj ET Q q 0 0 0 rg BT 518.63 551.10 Td (against ) Tj ET Q q 0 0 0 rg BT 549.79 551.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 539.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 91.73 539.10 Td (was ) Tj ET Q q 0 0 0 rg BT 110.13 539.10 Td (consolidated, ) Tj ET Q q 0 0 0 rg BT 166.01 539.10 Td (along ) Tj ET Q q 0 0 0 rg BT 191.07 539.10 Td (with ) Tj ET Q q 0 0 0 rg BT 211.70 539.10 Td (other ) Tj ET Q q 0 0 0 rg BT 235.09 539.10 Td (patent ) Tj ET Q q 0 0 0 rg BT 262.37 539.10 Td (infringement ) Tj ET Q q 0 0 0 rg BT 316.86 539.10 Td (cases ) Tj ET Q q 0 0 0 rg BT 340.80 539.10 Td (against ) Tj ET Q q 0 0 0 rg BT 371.97 539.10 Td (Groupon, ) Tj ET Q q 0 0 0 rg BT 412.87 539.10 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 433.06 539.10 Td (Y) Tj ET Q q 0 0 0 rg BT 439.28 539.10 Td (elp, ) Tj ET Q q 0 0 0 rg BT 456.84 539.10 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 474.95 539.10 Td (and ) Tj ET Q q 0 0 0 rg BT 492.24 539.10 Td (Foursquare ) Tj ET Q q 0 0 0 rg BT 540.07 539.10 Td (Labs, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 527.10 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 70.27 527.10 Td (into ) Tj ET Q q 0 0 0 rg BT 88.33 527.10 Td (Blue ) Tj ET Q q 0 0 0 rg BT 109.71 527.10 Td (Calypso, ) Tj ET Q q 0 0 0 rg BT 147.49 527.10 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 165.26 527.10 Td (v) Tj ET Q q 0 0 0 rg BT 169.61 527.10 Td (. ) Tj ET Q q 0 0 0 rg BT 174.61 527.10 Td (Groupon ) Tj ET Q q 0 0 0 rg BT 212.66 527.10 Td (et ) Tj ET Q q 0 0 0 rg BT 222.38 527.10 Td (al ) Tj ET Q q 0 0 0 rg BT 232.09 527.10 Td (for ) Tj ET Q q 0 0 0 rg BT 246.25 527.10 Td (all ) Tj ET Q q 0 0 0 rg BT 258.75 527.10 Td (pretrial ) Tj ET Q q 0 0 0 rg BT 290.12 527.10 Td (purposes, ) Tj ET Q q 0 0 0 rg BT 330.67 527.10 Td (including ) Tj ET Q q 0 0 0 rg BT 370.95 527.10 Td (discovery ) Tj ET Q q 0 0 0 rg BT 412.32 527.10 Td (and ) Tj ET Q q 0 0 0 rg BT 429.26 527.10 Td (claim ) Tj ET Q q 0 0 0 rg BT 453.97 527.10 Td (construction.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 503.10 Td (On ) Tj ET Q q 0 0 0 rg BT 63.53 503.10 Td (August ) Tj ET Q q 0 0 0 rg BT 94.10 503.10 Td (17, ) Tj ET Q q 0 0 0 rg BT 108.29 503.10 Td (2015, ) Tj ET Q q 0 0 0 rg BT 132.47 503.10 Td (the ) Tj ET Q q 0 0 0 rg BT 146.36 503.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 186.93 503.10 Td (entered ) Tj ET Q q 0 0 0 rg BT 218.04 503.10 Td (into ) Tj ET Q q 0 0 0 rg BT 235.28 503.10 Td (a ) Tj ET Q q 0 0 0 rg BT 241.40 503.10 Td (settlement ) Tj ET Q q 0 0 0 rg BT 284.17 503.10 Td (agreement ) Tj ET Q q 0 0 0 rg BT 327.50 503.10 Td (with ) Tj ET Q q 0 0 0 rg BT 346.96 503.10 Td (Blue ) Tj ET Q q 0 0 0 rg BT 367.52 503.10 Td (Calypso ) Tj ET Q q 0 0 0 rg BT 401.98 503.10 Td (ending ) Tj ET Q q 0 0 0 rg BT 430.88 503.10 Td (all ) Tj ET Q q 0 0 0 rg BT 442.56 503.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 490.90 503.10 Td (litigation ) Tj ET Q q 0 0 0 rg BT 528.69 503.10 Td (between ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 491.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.06 491.10 Td (two ) Tj ET Q q 0 0 0 rg BT 80.91 491.10 Td (companies. ) Tj ET Q q 0 0 0 rg BT 128.02 491.10 Td (Under ) Tj ET Q q 0 0 0 rg BT 154.86 491.10 Td (the ) Tj ET Q q 0 0 0 rg BT 168.93 491.10 Td (agreement, ) Tj ET Q q 0 0 0 rg BT 214.92 491.10 Td (the ) Tj ET Q q 0 0 0 rg BT 228.98 491.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 269.72 491.10 Td (agreed ) Tj ET Q q 0 0 0 rg BT 298.21 491.10 Td (to ) Tj ET Q q 0 0 0 rg BT 307.84 491.10 Td (pay ) Tj ET Q q 0 0 0 rg BT 324.12 491.10 Td (Blue ) Tj ET Q q 0 0 0 rg BT 344.86 491.10 Td (Calypso ) Tj ET Q q 0 0 0 rg BT 379.48 491.10 Td (a ) Tj ET Q q 0 0 0 rg BT 385.77 491.10 Td (settlement ) Tj ET Q q 0 0 0 rg BT 428.72 491.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 460.56 491.10 Td (of ) Tj ET Q q 0 0 0 rg BT 470.74 491.10 Td ($390,506, ) Tj ET Q q 0 0 0 rg BT 512.59 491.10 Td (representing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 479.10 Td (a ) Tj ET Q q 0 0 0 rg BT 56.93 479.10 Td (royalty ) Tj ET Q q 0 0 0 rg BT 87.75 479.10 Td (fee ) Tj ET Q q 0 0 0 rg BT 102.45 479.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.28 479.10 Td (4.125%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.11 479.10 Td ( ) Tj ET Q q 0 0 0 rg BT 146.60 479.10 Td (of ) Tj ET Q q 0 0 0 rg BT 157.43 479.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 191.57 479.10 Td (from ) Tj ET Q q 0 0 0 rg BT 213.50 479.10 Td (the ) Tj ET Q q 0 0 0 rg BT 228.21 479.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 275.28 479.10 Td (legacy ) Tj ET Q q 0 0 0 rg BT 303.87 479.10 Td (platforms: ) Tj ET Q q 0 0 0 rg BT 347.47 479.10 Td (SocialSpark, ) Tj ET Q q 0 0 0 rg BT 400.79 479.10 Td (Sponsored ) Tj ET Q q 0 0 0 rg BT 445.32 479.10 Td (T) Tj ET Q q 0 0 0 rg BT 450.73 479.10 Td (weets, ) Tj ET Q q 0 0 0 rg BT 478.50 479.10 Td (and ) Tj ET Q q 0 0 0 rg BT 495.25 479.10 Td (W) Tj ET Q q 0 0 0 rg BT 503.89 479.10 Td (eReward. ) Tj ET Q q 0 0 0 rg BT 544.24 479.10 Td (This ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 467.10 Td (royalty ) Tj ET Q q 0 0 0 rg BT 81.21 467.10 Td (fee ) Tj ET Q q 0 0 0 rg BT 96.29 467.10 Td (was ) Tj ET Q q 0 0 0 rg BT 114.72 467.10 Td (assessed ) Tj ET Q q 0 0 0 rg BT 151.49 467.10 Td (on ) Tj ET Q q 0 0 0 rg BT 164.37 467.10 Td (those ) Tj ET Q q 0 0 0 rg BT 188.35 467.10 Td (legacy ) Tj ET Q q 0 0 0 rg BT 217.33 467.10 Td (platforms ) Tj ET Q q 0 0 0 rg BT 258.53 467.10 Td (from ) Tj ET Q q 0 0 0 rg BT 280.85 467.10 Td (their ) Tj ET Q q 0 0 0 rg BT 302.06 467.10 Td (inception ) Tj ET Q q 0 0 0 rg BT 342.15 467.10 Td (until ) Tj ET Q q 0 0 0 rg BT 363.36 467.10 Td (the ) Tj ET Q q 0 0 0 rg BT 378.46 467.10 Td (time ) Tj ET Q q 0 0 0 rg BT 399.11 467.10 Td (they ) Tj ET Q q 0 0 0 rg BT 419.21 467.10 Td (were ) Tj ET Q q 0 0 0 rg BT 441.52 467.10 Td (all ) Tj ET Q q 0 0 0 rg BT 454.39 467.10 Td (discontinued ) Tj ET Q q 0 0 0 rg BT 508.38 467.10 Td (by ) Tj ET Q q 0 0 0 rg BT 521.26 467.10 Td (the ) Tj ET Q q 0 0 0 rg BT 536.35 467.10 Td (end ) Tj ET Q q 0 0 0 rg BT 553.67 467.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 455.10 Td (2014. ) Tj ET Q q 0 0 0 rg BT 75.78 455.10 Td (Blue ) Tj ET Q q 0 0 0 rg BT 97.95 455.10 Td (Calypso ) Tj ET Q q 0 0 0 rg BT 134.01 455.10 Td (has ) Tj ET Q q 0 0 0 rg BT 150.62 455.10 Td (dismissed ) Tj ET Q q 0 0 0 rg BT 193.34 455.10 Td (with ) Tj ET Q q 0 0 0 rg BT 214.40 455.10 Td (prejudice ) Tj ET Q q 0 0 0 rg BT 254.89 455.10 Td (all ) Tj ET Q q 0 0 0 rg BT 268.16 455.10 Td (pending ) Tj ET Q q 0 0 0 rg BT 303.66 455.10 Td (litigation ) Tj ET Q q 0 0 0 rg BT 343.05 455.10 Td (against ) Tj ET Q q 0 0 0 rg BT 374.65 455.10 Td (the ) Tj ET Q q 0 0 0 rg BT 390.15 455.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 432.32 455.10 Td (and ) Tj ET Q q 0 0 0 rg BT 450.04 455.10 Td (has ) Tj ET Q q 0 0 0 rg BT 466.65 455.10 Td (granted ) Tj ET Q q 0 0 0 rg BT 499.91 455.10 Td (the ) Tj ET Q q 0 0 0 rg BT 515.41 455.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 557.58 455.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 443.10 Td (worldwide ) Tj ET Q q 0 0 0 rg BT 96.10 443.10 Td (covenant ) Tj ET Q q 0 0 0 rg BT 135.52 443.10 Td (not ) Tj ET Q q 0 0 0 rg BT 151.62 443.10 Td (to ) Tj ET Q q 0 0 0 rg BT 162.73 443.10 Td (sue ) Tj ET Q q 0 0 0 rg BT 179.39 443.10 Td (covering ) Tj ET Q q 0 0 0 rg BT 217.70 443.10 Td (the ) Tj ET Q q 0 0 0 rg BT 233.24 443.10 Td (IZEAx ) Tj ET Q q 0 0 0 rg BT 264.34 443.10 Td (and ) Tj ET Q q 0 0 0 rg BT 282.11 443.10 Td (Ebyline ) Tj ET Q q 0 0 0 rg BT 316.54 443.10 Td (platforms ) Tj ET Q q 0 0 0 rg BT 358.19 443.10 Td (or ) Tj ET Q q 0 0 0 rg BT 369.85 443.10 Td (any ) Tj ET Q q 0 0 0 rg BT 387.61 443.10 Td (reasonable ) Tj ET Q q 0 0 0 rg BT 433.70 443.10 Td (iteration ) Tj ET Q q 0 0 0 rg BT 470.34 443.10 Td (thereof. ) Tj ET Q q 0 0 0 rg BT 504.25 443.10 Td (The ) Tj ET Q q 0 0 0 rg BT 523.12 443.10 Td (Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 431.10 Td (developed ) Tj ET Q q 0 0 0 rg BT 93.35 431.10 Td (the ) Tj ET Q q 0 0 0 rg BT 107.82 431.10 Td (IZEAx ) Tj ET Q q 0 0 0 rg BT 137.84 431.10 Td (and ) Tj ET Q q 0 0 0 rg BT 154.53 431.10 Td (Ebyline ) Tj ET Q q 0 0 0 rg BT 187.89 431.10 Td (platforms ) Tj ET Q q 0 0 0 rg BT 228.47 431.10 Td (in ) Tj ET Q q 0 0 0 rg BT 238.50 431.10 Td (a ) Tj ET Q q 0 0 0 rg BT 245.19 431.10 Td (manner ) Tj ET Q q 0 0 0 rg BT 277.43 431.10 Td (such ) Tj ET Q q 0 0 0 rg BT 298.01 431.10 Td (that ) Tj ET Q q 0 0 0 rg BT 315.26 431.10 Td (it ) Tj ET Q q 0 0 0 rg BT 323.07 431.10 Td (believes ) Tj ET Q q 0 0 0 rg BT 358.09 431.10 Td (they ) Tj ET Q q 0 0 0 rg BT 377.56 431.10 Td (do ) Tj ET Q q 0 0 0 rg BT 389.81 431.10 Td (not ) Tj ET Q q 0 0 0 rg BT 404.84 431.10 Td (infringe ) Tj ET Q q 0 0 0 rg BT 438.75 431.10 Td (Blue ) Tj ET Q q 0 0 0 rg BT 459.89 431.10 Td (Calypso's ) Tj ET Q q 0 0 0 rg BT 500.62 431.10 Td (current ) Tj ET Q q 0 0 0 rg BT 531.19 431.10 Td (patents.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 407.10 Td (The ) Tj ET Q q 0 0 0 rg BT 69.35 407.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 112.05 407.10 Td (paid ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.07 407.10 Td ($200,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 170.57 407.10 Td ( ) Tj ET Q q 0 0 0 rg BT 174.38 407.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 198.19 407.10 Td (execution ) Tj ET Q q 0 0 0 rg BT 240.87 407.10 Td (of ) Tj ET Q q 0 0 0 rg BT 253.00 407.10 Td (the ) Tj ET Q q 0 0 0 rg BT 269.03 407.10 Td (agreement ) Tj ET Q q 0 0 0 rg BT 314.47 407.10 Td (and ) Tj ET Q q 0 0 0 rg BT 332.72 407.10 Td (is ) Tj ET Q q 0 0 0 rg BT 343.20 407.10 Td (paying ) Tj ET Q q 0 0 0 rg BT 374.22 407.10 Td (the ) Tj ET Q q 0 0 0 rg BT 390.24 407.10 Td (balance ) Tj ET Q q 0 0 0 rg BT 424.58 407.10 Td (in ) Tj ET Q q 0 0 0 rg BT 436.17 407.10 Td (equal ) Tj ET Q q 0 0 0 rg BT 461.63 407.10 Td (quarterly ) Tj ET Q q 0 0 0 rg BT 501.53 407.10 Td (installments ) Tj ET Q q 0 0 0 rg BT 553.67 407.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 395.10 Td ($47,626.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 395.10 Td ( ) Tj ET Q q 0 0 0 rg BT 97.33 395.10 Td (over ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.43 395.10 Td (24 ) Tj ET Q q 0 0 0 rg BT 129.76 395.10 Td (months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.20 395.10 Td ( ) Tj ET Q q 0 0 0 rg BT 161.53 395.10 Td (beginning ) Tj ET Q q 0 0 0 rg BT 203.86 395.10 Td (in ) Tj ET Q q 0 0 0 rg BT 213.96 395.10 Td (November ) Tj ET Q q 0 0 0 rg BT 258.50 395.10 Td (2015. ) Tj ET Q q 0 0 0 rg BT 283.33 395.10 Td ( ) Tj ET Q q 0 0 0 rg BT 285.49 395.10 Td (The ) Tj ET Q q 0 0 0 rg BT 303.37 395.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 344.58 395.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 381.89 395.10 Td (the ) Tj ET Q q 0 0 0 rg BT 396.43 395.10 Td (entire ) Tj ET Q q 0 0 0 rg BT 421.53 395.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 453.85 395.10 Td (of ) Tj ET Q q 0 0 0 rg BT 464.51 395.10 Td (the ) Tj ET Q q 0 0 0 rg BT 479.06 395.10 Td (settlement ) Tj ET Q q 0 0 0 rg BT 522.48 395.10 Td (in ) Tj ET Q q 0 0 0 rg BT 532.59 395.10 Td (general ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 383.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.05 383.10 Td (administrative ) Tj ET Q q 0 0 0 rg BT 124.87 383.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 158.68 383.10 Td (during ) Tj ET Q q 0 0 0 rg BT 186.40 383.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.23 383.10 Td (three ) Tj ET Q q 0 0 0 rg BT 221.83 383.10 Td (and ) Tj ET Q q 0 0 0 rg BT 237.87 383.10 Td (nine ) Tj ET Q q 0 0 0 rg BT 256.70 383.10 Td (months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.15 383.10 Td ( ) Tj ET Q q 0 0 0 rg BT 287.76 383.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.25 383.10 Td (September30, ) Tj ET Q q 0 0 0 rg BT 372.62 383.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.62 383.10 Td (. ) Tj ET Q q 0 0 0 rg BT 396.73 383.10 Td ( ) Tj ET Q q 0 0 0 rg BT 398.23 383.10 Td (The ) Tj ET Q q 0 0 0 rg BT 415.38 383.10 Td ( ) Tj ET Q q 0 0 0 rg BT 416.99 383.10 Td (remaining ) Tj ET Q q 0 0 0 rg BT 459.15 383.10 Td (balance ) Tj ET Q q 0 0 0 rg BT 491.29 383.10 Td (owed ) Tj ET Q q 0 0 0 rg BT 514.56 383.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.50 383.10 Td ($190,506) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 562.00 383.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 371.10 Td (is ) Tj ET Q q 0 0 0 rg BT 59.17 371.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 96.65 371.10 Td (in ) Tj ET Q q 0 0 0 rg BT 106.92 371.10 Td (accrued ) Tj ET Q q 0 0 0 rg BT 140.51 371.10 Td (expenses ) Tj ET Q q 0 0 0 rg BT 179.11 371.10 Td (as ) Tj ET Q q 0 0 0 rg BT 189.94 371.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.77 371.10 Td (September30, ) Tj ET Q q 0 0 0 rg BT 261.03 371.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.03 371.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 359.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 347.10 Td (NOTE ) Tj ET Q q 0 0 0 rg BT 80.84 347.10 Td (6. ) Tj ET Q q 0 0 0 rg BT 122.00 347.10 Td (ST) Tj ET Q q 0 0 0 rg BT 134.05 347.10 Td (OCKHOLDERS' ) Tj ET Q q 0 0 0 rg BT 211.01 347.10 Td (EQUITY) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 50 321.53505859375 m 129.541015625 321.53505859375 l s q 0 0 0 rg BT 50.00 323.10 Td (Authorized ) Tj ET Q q 0 0 0 rg BT 100.83 323.10 Td (Shar) Tj ET Q q 0 0 0 rg BT 121.21 323.10 Td (es) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 311.10 Td (The ) Tj ET Q q 0 0 0 rg BT 68.62 311.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 110.57 311.10 Td (has ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 126.97 311.10 Td (200,000,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.97 311.10 Td ( ) Tj ET Q q 0 0 0 rg BT 180.04 311.10 Td (authorized ) Tj ET Q q 0 0 0 rg BT 225.31 311.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 253.37 311.10 Td (of ) Tj ET Q q 0 0 0 rg BT 264.77 311.10 Td (common ) Tj ET Q q 0 0 0 rg BT 302.83 311.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 327.01 311.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.52 311.10 Td (10,000,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.52 311.10 Td ( ) Tj ET Q q 0 0 0 rg BT 392.59 311.10 Td (authorized ) Tj ET Q q 0 0 0 rg BT 437.86 311.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 465.92 311.10 Td (of ) Tj ET Q q 0 0 0 rg BT 477.31 311.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 517.02 311.10 Td (stock, ) Tj ET Q q 0 0 0 rg BT 543.70 311.10 Td (each ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 299.10 Td (with ) Tj ET Q q 0 0 0 rg BT 70.28 299.10 Td (a ) Tj ET Q q 0 0 0 rg BT 77.22 299.10 Td (par ) Tj ET Q q 0 0 0 rg BT 92.49 299.10 Td (value ) Tj ET Q q 0 0 0 rg BT 116.64 299.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 127.47 299.10 Td ($0.0001) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.97 299.10 Td ( ) Tj ET Q q 0 0 0 rg BT 162.47 299.10 Td (per ) Tj ET Q q 0 0 0 rg BT 177.74 299.10 Td (share. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 275.10 Td (On ) Tj ET Q q 0 0 0 rg BT 64.36 275.10 Td (July ) Tj ET Q q 0 0 0 rg BT 83.18 275.10 Td (29, ) Tj ET Q q 0 0 0 rg BT 97.82 275.10 Td (2015, ) Tj ET Q q 0 0 0 rg BT 122.46 275.10 Td (the ) Tj ET Q q 0 0 0 rg BT 136.82 275.10 Td (Company) Tj ET Q q 0 0 0 rg BT 178.49 275.10 Td (s ) Tj ET Q q 0 0 0 rg BT 184.52 275.10 Td (Board ) Tj ET Q q 0 0 0 rg BT 211.10 275.10 Td (of ) Tj ET Q q 0 0 0 rg BT 221.57 275.10 Td (Directors ) Tj ET Q q 0 0 0 rg BT 260.92 275.10 Td (approved ) Tj ET Q q 0 0 0 rg BT 300.27 275.10 Td (an ) Tj ET Q q 0 0 0 rg BT 311.85 275.10 Td (up ) Tj ET Q q 0 0 0 rg BT 324.00 275.10 Td (to ) Tj ET Q q 0 0 0 rg BT 333.92 275.10 Td (1-for) Tj ET Q q 0 0 0 rg BT 353.71 275.10 Td (-25 ) Tj ET Q q 0 0 0 rg BT 369.18 275.10 Td (reverse ) Tj ET Q q 0 0 0 rg BT 400.19 275.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 423.44 275.10 Td (split ) Tj ET Q q 0 0 0 rg BT 442.81 275.10 Td (of ) Tj ET Q q 0 0 0 rg BT 453.28 275.10 Td (the ) Tj ET Q q 0 0 0 rg BT 467.64 275.10 Td (Company) Tj ET Q q 0 0 0 rg BT 509.31 275.10 Td (s ) Tj ET Q q 0 0 0 rg BT 515.34 275.10 Td (outstanding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 263.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 77.27 263.10 Td (of ) Tj ET Q q 0 0 0 rg BT 87.87 263.10 Td (common ) Tj ET Q q 0 0 0 rg BT 125.14 263.10 Td (stock. ) Tj ET Q q 0 0 0 rg BT 151.03 263.10 Td ( ) Tj ET Q q 0 0 0 rg BT 153.14 263.10 Td (The ) Tj ET Q q 0 0 0 rg BT 170.96 263.10 Td (reverse ) Tj ET Q q 0 0 0 rg BT 202.10 263.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 225.48 263.10 Td (split ) Tj ET Q q 0 0 0 rg BT 244.99 263.10 Td (was ) Tj ET Q q 0 0 0 rg BT 262.81 263.10 Td (subsequently ) Tj ET Q q 0 0 0 rg BT 317.31 263.10 Td (approved ) Tj ET Q q 0 0 0 rg BT 356.79 263.10 Td (on ) Tj ET Q q 0 0 0 rg BT 368.56 263.10 Td (August ) Tj ET Q q 0 0 0 rg BT 399.73 263.10 Td (6, ) Tj ET Q q 0 0 0 rg BT 409.50 263.10 Td (2015 ) Tj ET Q q 0 0 0 rg BT 431.78 263.10 Td (by ) Tj ET Q q 0 0 0 rg BT 444.06 263.10 Td (written ) Tj ET Q q 0 0 0 rg BT 474.66 263.10 Td (consent ) Tj ET Q q 0 0 0 rg BT 507.48 263.10 Td (of ) Tj ET Q q 0 0 0 rg BT 518.08 263.10 Td (the ) Tj ET Q q 0 0 0 rg BT 532.58 263.10 Td (holders ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 251.10 Td (of ) Tj ET Q q 0 0 0 rg BT 61.29 251.10 Td (a ) Tj ET Q q 0 0 0 rg BT 68.68 251.10 Td (majority ) Tj ET Q q 0 0 0 rg BT 105.52 251.10 Td (of ) Tj ET Q q 0 0 0 rg BT 116.81 251.10 Td (the ) Tj ET Q q 0 0 0 rg BT 131.99 251.10 Td (Company) Tj ET Q q 0 0 0 rg BT 173.65 251.10 Td (s ) Tj ET Q q 0 0 0 rg BT 180.50 251.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 208.46 251.10 Td (and ) Tj ET Q q 0 0 0 rg BT 225.86 251.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 275.48 251.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 303.43 251.10 Td (of ) Tj ET Q q 0 0 0 rg BT 314.72 251.10 Td (common ) Tj ET Q q 0 0 0 rg BT 352.67 251.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 376.74 251.10 Td (in ) Tj ET Q q 0 0 0 rg BT 387.47 251.10 Td (lieu ) Tj ET Q q 0 0 0 rg BT 405.42 251.10 Td (of ) Tj ET Q q 0 0 0 rg BT 416.71 251.10 Td (a ) Tj ET Q q 0 0 0 rg BT 424.11 251.10 Td (special ) Tj ET Q q 0 0 0 rg BT 454.83 251.10 Td (meeting ) Tj ET Q q 0 0 0 rg BT 490.00 251.10 Td (of ) Tj ET Q q 0 0 0 rg BT 501.29 251.10 Td (the ) Tj ET Q q 0 0 0 rg BT 516.46 251.10 Td (Company) Tj ET Q q 0 0 0 rg BT 558.13 251.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 239.10 Td (stockholders. ) Tj ET Q q 0 0 0 rg BT 105.22 239.10 Td ( ) Tj ET Q q 0 0 0 rg BT 107.23 239.10 Td (The ) Tj ET Q q 0 0 0 rg BT 124.95 239.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 166.01 239.10 Td (has ) Tj ET Q q 0 0 0 rg BT 181.51 239.10 Td (filed ) Tj ET Q q 0 0 0 rg BT 202.01 239.10 Td (a ) Tj ET Q q 0 0 0 rg BT 208.62 239.10 Td (notification ) Tj ET Q q 0 0 0 rg BT 256.89 239.10 Td (of ) Tj ET Q q 0 0 0 rg BT 267.39 239.10 Td (the ) Tj ET Q q 0 0 0 rg BT 281.78 239.10 Td (reverse ) Tj ET Q q 0 0 0 rg BT 312.82 239.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 336.10 239.10 Td (split ) Tj ET Q q 0 0 0 rg BT 355.50 239.10 Td (with ) Tj ET Q q 0 0 0 rg BT 375.45 239.10 Td (FINRA) Tj ET Q q 0 0 0 rg BT 404.90 239.10 Td ( ) Tj ET Q q 0 0 0 rg BT 407.07 239.10 Td (Operations, ) Tj ET Q q 0 0 0 rg BT 455.62 239.10 Td (but ) Tj ET Q q 0 0 0 rg BT 470.57 239.10 Td (to ) Tj ET Q q 0 0 0 rg BT 480.52 239.10 Td (date ) Tj ET Q q 0 0 0 rg BT 499.35 239.10 Td (the ) Tj ET Q q 0 0 0 rg BT 513.74 239.10 Td (reverse ) Tj ET Q q 0 0 0 rg BT 544.78 239.10 Td (split ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 227.10 Td (has ) Tj ET Q q 0 0 0 rg BT 65.55 227.10 Td (not ) Tj ET Q q 0 0 0 rg BT 80.54 227.10 Td (yet ) Tj ET Q q 0 0 0 rg BT 94.98 227.10 Td (been ) Tj ET Q q 0 0 0 rg BT 116.07 227.10 Td (ef) Tj ET Q q 0 0 0 rg BT 123.66 227.10 Td (fectuated. ) Tj ET Q q 0 0 0 rg BT 165.01 227.10 Td ( ) Tj ET Q q 0 0 0 rg BT 167.07 227.10 Td (The ) Tj ET Q q 0 0 0 rg BT 184.83 227.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 225.94 227.10 Td (anticipates ) Tj ET Q q 0 0 0 rg BT 270.91 227.10 Td (filing ) Tj ET Q q 0 0 0 rg BT 294.80 227.10 Td (a ) Tj ET Q q 0 0 0 rg BT 301.45 227.10 Td (Certificate ) Tj ET Q q 0 0 0 rg BT 345.87 227.10 Td (of ) Tj ET Q q 0 0 0 rg BT 355.92 227.10 Td (Amendment ) Tj ET Q q 0 0 0 rg BT 407.57 227.10 Td (to ) Tj ET Q q 0 0 0 rg BT 417.57 227.10 Td (its ) Tj ET Q q 0 0 0 rg BT 428.74 227.10 Td (Articles ) Tj ET Q q 0 0 0 rg BT 462.62 227.10 Td (of ) Tj ET Q q 0 0 0 rg BT 473.16 227.10 Td (Incorporation ) Tj ET Q q 0 0 0 rg BT 529.80 227.10 Td (with ) Tj ET Q q 0 0 0 rg BT 549.80 227.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 215.10 Td (State ) Tj ET Q q 0 0 0 rg BT 72.45 215.10 Td (of ) Tj ET Q q 0 0 0 rg BT 83.23 215.10 Td (Nevada, ) Tj ET Q q 0 0 0 rg BT 118.71 215.10 Td (with ) Tj ET Q q 0 0 0 rg BT 138.94 215.10 Td (an ) Tj ET Q q 0 0 0 rg BT 150.83 215.10 Td (ef) Tj ET Q q 0 0 0 rg BT 158.42 215.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 188.07 215.10 Td (date ) Tj ET Q q 0 0 0 rg BT 207.18 215.10 Td (of ) Tj ET Q q 0 0 0 rg BT 217.96 215.10 Td (the ) Tj ET Q q 0 0 0 rg BT 232.62 215.10 Td (reverse ) Tj ET Q q 0 0 0 rg BT 263.94 215.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 287.50 215.10 Td (split ) Tj ET Q q 0 0 0 rg BT 307.18 215.10 Td (in ) Tj ET Q q 0 0 0 rg BT 317.40 215.10 Td (the ) Tj ET Q q 0 0 0 rg BT 332.07 215.10 Td (near ) Tj ET Q q 0 0 0 rg BT 351.73 215.10 Td (future. ) Tj ET Q q 0 0 0 rg BT 380.56 215.10 Td ( ) Tj ET Q q 0 0 0 rg BT 382.46 215.10 Td (As ) Tj ET Q q 0 0 0 rg BT 396.03 215.10 Td (the ) Tj ET Q q 0 0 0 rg BT 410.70 215.10 Td (reverse ) Tj ET Q q 0 0 0 rg BT 442.01 215.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 465.57 215.10 Td (split ) Tj ET Q q 0 0 0 rg BT 485.25 215.10 Td (has ) Tj ET Q q 0 0 0 rg BT 501.03 215.10 Td (not ) Tj ET Q q 0 0 0 rg BT 516.26 215.10 Td (occurred ) Tj ET Q q 0 0 0 rg BT 553.68 215.10 Td (as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 203.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.21 203.10 Td (the ) Tj ET Q q 0 0 0 rg BT 74.30 203.10 Td (filing ) Tj ET Q q 0 0 0 rg BT 97.84 203.10 Td (date ) Tj ET Q q 0 0 0 rg BT 116.38 203.10 Td (of ) Tj ET Q q 0 0 0 rg BT 126.58 203.10 Td (this ) Tj ET Q q 0 0 0 rg BT 142.91 203.10 Td (Quarterly ) Tj ET Q q 0 0 0 rg BT 183.10 203.10 Td (Report ) Tj ET Q q 0 0 0 rg BT 212.20 203.10 Td (on ) Tj ET Q q 0 0 0 rg BT 224.07 203.10 Td (Form ) Tj ET Q q 0 0 0 rg BT 247.62 203.10 Td (10-Q, ) Tj ET Q q 0 0 0 rg BT 272.55 203.10 Td (no ) Tj ET Q q 0 0 0 rg BT 284.43 203.10 Td (adjustment ) Tj ET Q q 0 0 0 rg BT 330.19 203.10 Td (to ) Tj ET Q q 0 0 0 rg BT 339.84 203.10 Td (share ) Tj ET Q q 0 0 0 rg BT 362.82 203.10 Td ( ) Tj ET Q q 0 0 0 rg BT 364.70 203.10 Td (information ) Tj ET Q q 0 0 0 rg BT 413.79 203.10 Td (is ) Tj ET Q q 0 0 0 rg BT 422.33 203.10 Td (reflected ) Tj ET Q q 0 0 0 rg BT 459.18 203.10 Td (in ) Tj ET Q q 0 0 0 rg BT 468.84 203.10 Td (the ) Tj ET Q q 0 0 0 rg BT 482.93 203.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 519.79 203.10 Td (statements ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 191.10 Td (contained ) Tj ET Q q 0 0 0 rg BT 91.37 191.10 Td (in ) Tj ET Q q 0 0 0 rg BT 101.65 191.10 Td (this ) Tj ET Q q 0 0 0 rg BT 118.60 191.10 Td (Quarterly ) Tj ET Q q 0 0 0 rg BT 159.41 191.10 Td (Report ) Tj ET Q q 0 0 0 rg BT 189.13 191.10 Td (on ) Tj ET Q q 0 0 0 rg BT 201.63 191.10 Td (Form ) Tj ET Q q 0 0 0 rg BT 225.80 191.10 Td (10-Q.) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 50 165.53505859375002 m 144.35546875 165.53505859375002 l s q 0 0 0 rg BT 50.00 167.10 Td (W) Tj ET Q q 0 0 0 rg BT 59.45 167.10 Td (arrant ) Tj ET Q q 0 0 0 rg BT 89.54 167.10 Td (T) Tj ET Q q 0 0 0 rg BT 95.46 167.10 Td (ransactions) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 155.10 Td (W) Tj ET Q q 0 0 0 rg BT 57.41 155.10 Td (arrant ) Tj ET Q q 0 0 0 rg BT 85.47 155.10 Td (Issuances:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 143.10 Td (On ) Tj ET Q q 0 0 0 rg BT 65.42 143.10 Td (January ) Tj ET Q q 0 0 0 rg BT 99.73 143.10 Td (22, ) Tj ET Q q 0 0 0 rg BT 115.43 143.10 Td (2015, ) Tj ET Q q 0 0 0 rg BT 141.13 143.10 Td (the ) Tj ET Q q 0 0 0 rg BT 156.55 143.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 198.64 143.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 226.85 143.10 Td (a ) Tj ET Q q 0 0 0 rg BT 234.49 143.10 Td (warrant ) Tj ET Q q 0 0 0 rg BT 268.23 143.10 Td (to ) Tj ET Q q 0 0 0 rg BT 279.21 143.10 Td (purchase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.95 143.10 Td (100,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.45 143.10 Td ( ) Tj ET Q q 0 0 0 rg BT 353.65 143.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 381.85 143.10 Td (of ) Tj ET Q q 0 0 0 rg BT 393.38 143.10 Td (its ) Tj ET Q q 0 0 0 rg BT 406.03 143.10 Td (common ) Tj ET Q q 0 0 0 rg BT 444.23 143.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 468.54 143.10 Td (to ) Tj ET Q q 0 0 0 rg BT 479.52 143.10 Td (an ) Tj ET Q q 0 0 0 rg BT 492.16 143.10 Td (investor ) Tj ET Q q 0 0 0 rg BT 527.58 143.10 Td (relations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 131.10 Td (consultant. ) Tj ET Q q 0 0 0 rg BT 96.14 131.10 Td ( ) Tj ET Q q 0 0 0 rg BT 98.50 131.10 Td (The ) Tj ET Q q 0 0 0 rg BT 116.58 131.10 Td (warrant ) Tj ET Q q 0 0 0 rg BT 149.66 131.10 Td (has ) Tj ET Q q 0 0 0 rg BT 165.52 131.10 Td (an ) Tj ET Q q 0 0 0 rg BT 177.50 131.10 Td (exercise ) Tj ET Q q 0 0 0 rg BT 212.79 131.10 Td (price ) Tj ET Q q 0 0 0 rg BT 235.32 131.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.18 131.10 Td ($0.51) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.68 131.10 Td ( ) Tj ET Q q 0 0 0 rg BT 271.22 131.10 Td (per ) Tj ET Q q 0 0 0 rg BT 286.53 131.10 Td (share ) Tj ET Q q 0 0 0 rg BT 310.17 131.10 Td (and ) Tj ET Q q 0 0 0 rg BT 327.14 131.10 Td (expires ) Tj ET Q q 0 0 0 rg BT 358.56 131.10 Td (on ) Tj ET Q q 0 0 0 rg BT 371.10 131.10 Td (January ) Tj ET Q q 0 0 0 rg BT 404.73 131.10 Td (22, ) Tj ET Q q 0 0 0 rg BT 419.77 131.10 Td (2020. ) Tj ET Q q 0 0 0 rg BT 444.81 131.10 Td ( ) Tj ET Q q 0 0 0 rg BT 447.16 131.10 Td (The ) Tj ET Q q 0 0 0 rg BT 465.25 131.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 481.66 131.10 Td (value ) Tj ET Q q 0 0 0 rg BT 505.86 131.10 Td (of ) Tj ET Q q 0 0 0 rg BT 516.72 131.10 Td (the ) Tj ET Q q 0 0 0 rg BT 531.48 131.10 Td (warrant ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 119.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 71.86 119.10 Td (issuance ) Tj ET Q q 0 0 0 rg BT 107.59 119.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 125.00 119.10 Td ($7,700) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 152.50 119.10 Td ( ) Tj ET Q q 0 0 0 rg BT 154.36 119.10 Td (and ) Tj ET Q q 0 0 0 rg BT 170.65 119.10 Td (the ) Tj ET Q q 0 0 0 rg BT 184.73 119.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 225.47 119.10 Td (received ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.19 119.10 Td ($100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.19 119.10 Td ( ) Tj ET Q q 0 0 0 rg BT 283.05 119.10 Td (as ) Tj ET Q q 0 0 0 rg BT 293.23 119.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 350.63 119.10 Td (for ) Tj ET Q q 0 0 0 rg BT 364.15 119.10 Td (the ) Tj ET Q q 0 0 0 rg BT 378.22 119.10 Td (warrant. ) Tj ET Q q 0 0 0 rg BT 413.12 119.10 Td ( ) Tj ET Q q 0 0 0 rg BT 414.84 119.10 Td (The ) Tj ET Q q 0 0 0 rg BT 432.24 119.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 447.98 119.10 Td (value ) Tj ET Q q 0 0 0 rg BT 471.49 119.10 Td (of ) Tj ET Q q 0 0 0 rg BT 481.68 119.10 Td (the ) Tj ET Q q 0 0 0 rg BT 495.75 119.10 Td (warrant ) Tj ET Q q 0 0 0 rg BT 528.14 119.10 Td (issuance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 107.10 Td (was ) Tj ET Q q 0 0 0 rg BT 69.75 107.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 108.93 107.10 Td (as ) Tj ET Q q 0 0 0 rg BT 121.46 107.10 Td (an ) Tj ET Q q 0 0 0 rg BT 135.10 107.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 172.06 107.10 Td (in ) Tj ET Q q 0 0 0 rg BT 184.04 107.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 228.23 107.10 Td (paid-in ) Tj ET Q q 0 0 0 rg BT 260.76 107.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 291.61 107.10 Td (in ) Tj ET Q q 0 0 0 rg BT 303.59 107.10 Td (the ) Tj ET Q q 0 0 0 rg BT 320.01 107.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 368.79 107.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 423.54 107.10 Td (balance ) Tj ET Q q 0 0 0 rg BT 458.27 107.10 Td (sheet ) Tj ET Q q 0 0 0 rg BT 483.02 107.10 Td (and ) Tj ET Q q 0 0 0 rg BT 501.66 107.10 Td (the ) Tj ET Q q 0 0 0 rg BT 518.08 107.10 Td (net ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.50 107.10 Td ($7,600) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 562.00 107.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 95.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 108.04 95.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 142.75 95.10 Td (was ) Tj ET Q q 0 0 0 rg BT 160.80 95.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 198.28 95.10 Td (in ) Tj ET Q q 0 0 0 rg BT 208.55 95.10 Td (general ) Tj ET Q q 0 0 0 rg BT 240.48 95.10 Td (and ) Tj ET Q q 0 0 0 rg BT 257.42 95.10 Td (administrative ) Tj ET Q q 0 0 0 rg BT 317.12 95.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 351.83 95.10 Td (during ) Tj ET Q q 0 0 0 rg BT 380.44 95.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.16 95.10 Td (nine ) Tj ET Q q 0 0 0 rg BT 414.87 95.10 Td (months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.32 95.10 Td ( ) Tj ET Q q 0 0 0 rg BT 446.82 95.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.20 95.10 Td (September30, ) Tj ET Q q 0 0 0 rg BT 533.46 95.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.46 95.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 71.10 Td (On ) Tj ET Q q 0 0 0 rg BT 63.80 71.10 Td (June ) Tj ET Q q 0 0 0 rg BT 83.72 71.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 97.80 71.10 Td (2015, ) Tj ET Q q 0 0 0 rg BT 121.88 71.10 Td (the ) Tj ET Q q 0 0 0 rg BT 135.68 71.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 176.15 71.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 202.73 71.10 Td (a ) Tj ET Q q 0 0 0 rg BT 208.75 71.10 Td (warrant ) Tj ET Q q 0 0 0 rg BT 240.87 71.10 Td (to ) Tj ET Q q 0 0 0 rg BT 250.23 71.10 Td (purchase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.35 71.10 Td (250,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.85 71.10 Td ( ) Tj ET Q q 0 0 0 rg BT 321.43 71.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 348.00 71.10 Td (of ) Tj ET Q q 0 0 0 rg BT 357.92 71.10 Td (its ) Tj ET Q q 0 0 0 rg BT 368.95 71.10 Td (common ) Tj ET Q q 0 0 0 rg BT 405.52 71.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 428.21 71.10 Td (to ) Tj ET Q q 0 0 0 rg BT 437.57 71.10 Td (an ) Tj ET Q q 0 0 0 rg BT 448.59 71.10 Td (investor ) Tj ET Q q 0 0 0 rg BT 482.39 71.10 Td (relations ) Tj ET Q q 0 0 0 rg BT 518.41 71.10 Td (consultant. ) Tj ET Q q 0 0 0 rg BT 564.51 71.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 59.10 Td (The ) Tj ET Q q 0 0 0 rg BT 68.18 59.10 Td (warrant ) Tj ET Q q 0 0 0 rg BT 101.35 59.10 Td (has ) Tj ET Q q 0 0 0 rg BT 117.32 59.10 Td (an ) Tj ET Q q 0 0 0 rg BT 129.39 59.10 Td (exercise ) Tj ET Q q 0 0 0 rg BT 164.78 59.10 Td (price ) Tj ET Q q 0 0 0 rg BT 187.40 59.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.36 59.10 Td ($0.51) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 220.86 59.10 Td ( ) Tj ET Q q 0 0 0 rg BT 223.50 59.10 Td (per ) Tj ET Q q 0 0 0 rg BT 238.90 59.10 Td (share ) Tj ET Q q 0 0 0 rg BT 262.63 59.10 Td (and ) Tj ET Q q 0 0 0 rg BT 279.70 59.10 Td (expires ) Tj ET Q q 0 0 0 rg BT 311.22 59.10 Td (on ) Tj ET Q q 0 0 0 rg BT 323.85 59.10 Td (June ) Tj ET Q q 0 0 0 rg BT 344.81 59.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 359.95 59.10 Td (2020. ) Tj ET Q q 0 0 0 rg BT 385.08 59.10 Td ( ) Tj ET Q q 0 0 0 rg BT 387.53 59.10 Td (The ) Tj ET Q q 0 0 0 rg BT 405.71 59.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 422.22 59.10 Td (value ) Tj ET Q q 0 0 0 rg BT 446.51 59.10 Td (of ) Tj ET Q q 0 0 0 rg BT 457.47 59.10 Td (the ) Tj ET Q q 0 0 0 rg BT 472.32 59.10 Td (warrant ) Tj ET Q q 0 0 0 rg BT 505.50 59.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 528.13 59.10 Td (issuance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 47.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.28 47.10 Td ($44,250) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 100.78 47.10 Td (. ) Tj ET Q q 0 0 0 rg BT 106.00 47.10 Td ( ) Tj ET Q q 0 0 0 rg BT 108.53 47.10 Td (The ) Tj ET Q q 0 0 0 rg BT 126.81 47.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 143.41 47.10 Td (value ) Tj ET Q q 0 0 0 rg BT 167.79 47.10 Td (of ) Tj ET Q q 0 0 0 rg BT 178.85 47.10 Td (the ) Tj ET Q q 0 0 0 rg BT 193.79 47.10 Td (warrant ) Tj ET Q q 0 0 0 rg BT 227.05 47.10 Td (issuance ) Tj ET Q q 0 0 0 rg BT 263.66 47.10 Td (was ) Tj ET Q q 0 0 0 rg BT 281.93 47.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 319.63 47.10 Td (as ) Tj ET Q q 0 0 0 rg BT 330.69 47.10 Td (an ) Tj ET Q q 0 0 0 rg BT 342.86 47.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 378.34 47.10 Td (in ) Tj ET Q q 0 0 0 rg BT 388.84 47.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 431.56 47.10 Td (paid-in ) Tj ET Q q 0 0 0 rg BT 462.61 47.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 491.98 47.10 Td (in ) Tj ET Q q 0 0 0 rg BT 502.49 47.10 Td (the ) Tj ET Q q 0 0 0 rg BT 517.43 47.10 Td (Company's ) Tj ET Q endstream endobj 37 0 obj <> endobj 38 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 283.05 772.75 Td (IZEA, Inc.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 181.55 760.75 Td (Notes to the Unaudited Consolidated Financial Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 731.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 104.43 731.10 Td (balance ) Tj ET Q q 0 0 0 rg BT 138.84 731.10 Td (sheet ) Tj ET Q q 0 0 0 rg BT 163.28 731.10 Td (and ) Tj ET Q q 0 0 0 rg BT 181.60 731.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 241.03 731.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 277.12 731.10 Td (in ) Tj ET Q q 0 0 0 rg BT 288.78 731.10 Td (general ) Tj ET Q q 0 0 0 rg BT 322.09 731.10 Td (and ) Tj ET Q q 0 0 0 rg BT 340.41 731.10 Td (administrative ) Tj ET Q q 0 0 0 rg BT 401.50 731.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 437.60 731.10 Td (during ) Tj ET Q q 0 0 0 rg BT 467.59 731.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.69 731.10 Td (nine ) Tj ET Q q 0 0 0 rg BT 504.79 731.10 Td (months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.24 731.10 Td ( ) Tj ET Q q 0 0 0 rg BT 538.13 731.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 719.10 Td (September30, ) Tj ET Q q 0 0 0 rg BT 110.26 719.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.26 719.10 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 695.10 Td (W) Tj ET Q q 0 0 0 rg BT 57.41 695.10 Td (arrant ) Tj ET Q q 0 0 0 rg BT 85.47 695.10 Td (Exer) Tj ET Q q 0 0 0 rg BT 103.98 695.10 Td (cises:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 683.10 Td (From ) Tj ET Q q 0 0 0 rg BT 74.52 683.10 Td (July ) Tj ET Q q 0 0 0 rg BT 94.05 683.10 Td (20, ) Tj ET Q q 0 0 0 rg BT 109.40 683.10 Td (2015 ) Tj ET Q q 0 0 0 rg BT 132.26 683.10 Td (through ) Tj ET Q q 0 0 0 rg BT 165.59 683.10 Td (August ) Tj ET Q q 0 0 0 rg BT 197.33 683.10 Td (14, ) Tj ET Q q 0 0 0 rg BT 212.69 683.10 Td (2015, ) Tj ET Q q 0 0 0 rg BT 238.04 683.10 Td (the ) Tj ET Q q 0 0 0 rg BT 253.11 683.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 294.85 683.10 Td (of) Tj ET Q q 0 0 0 rg BT 303.00 683.10 Td (fered ) Tj ET Q q 0 0 0 rg BT 326.39 683.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.69 683.10 Td (25%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.02 683.10 Td ( ) Tj ET Q q 0 0 0 rg BT 354.87 683.10 Td (discount ) Tj ET Q q 0 0 0 rg BT 391.61 683.10 Td (on ) Tj ET Q q 0 0 0 rg BT 404.47 683.10 Td (the ) Tj ET Q q 0 0 0 rg BT 419.54 683.10 Td (warrant ) Tj ET Q q 0 0 0 rg BT 452.93 683.10 Td (exercise ) Tj ET Q q 0 0 0 rg BT 488.54 683.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 515.27 683.10 Td (to ) Tj ET Q q 0 0 0 rg BT 525.90 683.10 Td (investors ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 671.10 Td (holding ) Tj ET Q q 0 0 0 rg BT 83.42 671.10 Td (the ) Tj ET Q q 0 0 0 rg BT 98.50 671.10 Td (series ) Tj ET Q q 0 0 0 rg BT 123.50 671.10 Td (A) Tj ET Q q 0 0 0 rg BT 130.17 671.10 Td ( ) Tj ET Q q 0 0 0 rg BT 133.04 671.10 Td (and ) Tj ET Q q 0 0 0 rg BT 150.34 671.10 Td (series ) Tj ET Q q 0 0 0 rg BT 175.97 671.10 Td (B ) Tj ET Q q 0 0 0 rg BT 185.50 671.10 Td (warrants ) Tj ET Q q 0 0 0 rg BT 222.80 671.10 Td (to ) Tj ET Q q 0 0 0 rg BT 233.44 671.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 271.84 671.10 Td (common ) Tj ET Q q 0 0 0 rg BT 309.70 671.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 333.67 671.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 361.53 671.10 Td (in ) Tj ET Q q 0 0 0 rg BT 372.18 671.10 Td (its ) Tj ET Q q 0 0 0 rg BT 383.86 671.10 Td (August ) Tj ET Q q 0 0 0 rg BT 415.61 671.10 Td (- ) Tj ET Q q 0 0 0 rg BT 421.81 671.10 Td (September ) Tj ET Q q 0 0 0 rg BT 467.43 671.10 Td (2013 ) Tj ET Q q 0 0 0 rg BT 490.30 671.10 Td (private ) Tj ET Q q 0 0 0 rg BT 520.92 671.10 Td (placement ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 659.10 Td (\(the ) Tj ET Q q 0 0 0 rg BT 68.35 659.10 Td (2013 ) Tj ET Q q 0 0 0 rg BT 95.38 659.10 Td (W) Tj ET Q q 0 0 0 rg BT 104.02 659.10 Td (arrants\) ) Tj ET Q q 0 0 0 rg BT 141.79 659.10 Td (and ) Tj ET Q q 0 0 0 rg BT 159.03 659.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 166.27 659.10 Td (26%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.60 659.10 Td ( ) Tj ET Q q 0 0 0 rg BT 187.40 659.10 Td (discount ) Tj ET Q q 0 0 0 rg BT 224.08 659.10 Td (on ) Tj ET Q q 0 0 0 rg BT 236.88 659.10 Td (the ) Tj ET Q q 0 0 0 rg BT 251.90 659.10 Td (warrant ) Tj ET Q q 0 0 0 rg BT 285.24 659.10 Td (exercise ) Tj ET Q q 0 0 0 rg BT 320.79 659.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 347.47 659.10 Td (to ) Tj ET Q q 0 0 0 rg BT 358.04 659.10 Td (investors ) Tj ET Q q 0 0 0 rg BT 396.95 659.10 Td (holding ) Tj ET Q q 0 0 0 rg BT 430.31 659.10 Td (series ) Tj ET Q q 0 0 0 rg BT 455.26 659.10 Td (A) Tj ET Q q 0 0 0 rg BT 461.93 659.10 Td ( ) Tj ET Q q 0 0 0 rg BT 464.73 659.10 Td (and ) Tj ET Q q 0 0 0 rg BT 481.96 659.10 Td (series ) Tj ET Q q 0 0 0 rg BT 507.53 659.10 Td (B ) Tj ET Q q 0 0 0 rg BT 517.00 659.10 Td (warrants ) Tj ET Q q 0 0 0 rg BT 554.23 659.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 647.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 87.63 647.10 Td (common ) Tj ET Q q 0 0 0 rg BT 124.72 647.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 147.92 647.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 175.02 647.10 Td (in ) Tj ET Q q 0 0 0 rg BT 184.89 647.10 Td (its ) Tj ET Q q 0 0 0 rg BT 196.43 647.10 Td (February ) Tj ET Q q 0 0 0 rg BT 234.62 647.10 Td (2014 ) Tj ET Q q 0 0 0 rg BT 256.72 647.10 Td (private ) Tj ET Q q 0 0 0 rg BT 286.57 647.10 Td (placement ) Tj ET Q q 0 0 0 rg BT 329.76 647.10 Td (\(the ) Tj ET Q q 0 0 0 rg BT 347.40 647.10 Td (2014 ) Tj ET Q q 0 0 0 rg BT 373.78 647.10 Td (W) Tj ET Q q 0 0 0 rg BT 382.42 647.10 Td (arrants ) Tj ET Q q 0 0 0 rg BT 416.15 647.10 Td (and ) Tj ET Q q 0 0 0 rg BT 432.69 647.10 Td (together ) Tj ET Q q 0 0 0 rg BT 467.54 647.10 Td (with ) Tj ET Q q 0 0 0 rg BT 487.42 647.10 Td (the ) Tj ET Q q 0 0 0 rg BT 501.73 647.10 Td (2013 ) Tj ET Q q 0 0 0 rg BT 523.67 647.10 Td (W) Tj ET Q q 0 0 0 rg BT 532.31 647.10 Td (arrants, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 635.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.59 635.10 Td ("W) Tj ET Q q 0 0 0 rg BT 77.31 635.10 Td (arrants"\). ) Tj ET Q q 0 0 0 rg BT 116.80 635.10 Td ( ) Tj ET Q q 0 0 0 rg BT 119.17 635.10 Td ( ) Tj ET Q q 0 0 0 rg BT 121.54 635.10 Td (If ) Tj ET Q q 0 0 0 rg BT 130.58 635.10 Td (and ) Tj ET Q q 0 0 0 rg BT 147.39 635.10 Td (to ) Tj ET Q q 0 0 0 rg BT 157.54 635.10 Td (the ) Tj ET Q q 0 0 0 rg BT 172.13 635.10 Td (extent ) Tj ET Q q 0 0 0 rg BT 198.93 635.10 Td (a ) Tj ET Q q 0 0 0 rg BT 205.74 635.10 Td (holder ) Tj ET Q q 0 0 0 rg BT 233.66 635.10 Td (did ) Tj ET Q q 0 0 0 rg BT 248.81 635.10 Td (not ) Tj ET Q q 0 0 0 rg BT 263.96 635.10 Td (exercise ) Tj ET Q q 0 0 0 rg BT 299.09 635.10 Td (its ) Tj ET Q q 0 0 0 rg BT 310.74 635.10 Td (W) Tj ET Q q 0 0 0 rg BT 319.37 635.10 Td (arrants ) Tj ET Q q 0 0 0 rg BT 348.95 635.10 Td (at ) Tj ET Q q 0 0 0 rg BT 358.54 635.10 Td (the ) Tj ET Q q 0 0 0 rg BT 373.13 635.10 Td (reduced ) Tj ET Q q 0 0 0 rg BT 407.15 635.10 Td (exercise ) Tj ET Q q 0 0 0 rg BT 442.27 635.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 468.52 635.10 Td (during ) Tj ET Q q 0 0 0 rg BT 497.00 635.10 Td (this ) Tj ET Q q 0 0 0 rg BT 513.82 635.10 Td (time ) Tj ET Q q 0 0 0 rg BT 533.97 635.10 Td (period, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 623.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.48 623.10 Td (exercise ) Tj ET Q q 0 0 0 rg BT 99.51 623.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 125.65 623.10 Td (of ) Tj ET Q q 0 0 0 rg BT 136.25 623.10 Td (any ) Tj ET Q q 0 0 0 rg BT 152.96 623.10 Td (unexercised ) Tj ET Q q 0 0 0 rg BT 202.81 623.10 Td (W) Tj ET Q q 0 0 0 rg BT 211.45 623.10 Td (arrants ) Tj ET Q q 0 0 0 rg BT 240.93 623.10 Td (remain ) Tj ET Q q 0 0 0 rg BT 270.96 623.10 Td (at ) Tj ET Q q 0 0 0 rg BT 280.44 623.10 Td (their ) Tj ET Q q 0 0 0 rg BT 301.04 623.10 Td (original ) Tj ET Q q 0 0 0 rg BT 334.41 623.10 Td (exercise ) Tj ET Q q 0 0 0 rg BT 369.43 623.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 395.58 623.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.17 623.10 Td ($0.25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.67 623.10 Td ( ) Tj ET Q q 0 0 0 rg BT 430.94 623.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 623.10 Td ($0.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.15 623.10 Td ( ) Tj ET Q q 0 0 0 rg BT 472.42 623.10 Td (per ) Tj ET Q q 0 0 0 rg BT 487.45 623.10 Td (share ) Tj ET Q q 0 0 0 rg BT 510.82 623.10 Td (for ) Tj ET Q q 0 0 0 rg BT 524.75 623.10 Td (the ) Tj ET Q q 0 0 0 rg BT 539.23 623.10 Td (series ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 611.10 Td (A) Tj ET Q q 0 0 0 rg BT 56.67 611.10 Td ( ) Tj ET Q q 0 0 0 rg BT 58.50 611.10 Td (and ) Tj ET Q q 0 0 0 rg BT 74.76 611.10 Td (series ) Tj ET Q q 0 0 0 rg BT 99.36 611.10 Td (B ) Tj ET Q q 0 0 0 rg BT 107.85 611.10 Td (2013 ) Tj ET Q q 0 0 0 rg BT 129.55 611.10 Td (W) Tj ET Q q 0 0 0 rg BT 138.18 611.10 Td (arrants, ) Tj ET Q q 0 0 0 rg BT 169.72 611.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 217.38 611.10 Td (, ) Tj ET Q q 0 0 0 rg BT 221.70 611.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.97 611.10 Td ($0.35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.47 611.10 Td ( ) Tj ET Q q 0 0 0 rg BT 262.29 611.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.56 611.10 Td ($0.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.06 611.10 Td ( ) Tj ET Q q 0 0 0 rg BT 302.89 611.10 Td (per ) Tj ET Q q 0 0 0 rg BT 317.48 611.10 Td (share ) Tj ET Q q 0 0 0 rg BT 340.41 611.10 Td (for ) Tj ET Q q 0 0 0 rg BT 353.89 611.10 Td (the ) Tj ET Q q 0 0 0 rg BT 367.93 611.10 Td (series ) Tj ET Q q 0 0 0 rg BT 392.13 611.10 Td (A) Tj ET Q q 0 0 0 rg BT 398.80 611.10 Td ( ) Tj ET Q q 0 0 0 rg BT 400.62 611.10 Td (and ) Tj ET Q q 0 0 0 rg BT 416.89 611.10 Td (series ) Tj ET Q q 0 0 0 rg BT 441.48 611.10 Td (B ) Tj ET Q q 0 0 0 rg BT 449.98 611.10 Td (2014 ) Tj ET Q q 0 0 0 rg BT 471.67 611.10 Td (W) Tj ET Q q 0 0 0 rg BT 480.31 611.10 Td (arrants, ) Tj ET Q q 0 0 0 rg BT 511.84 611.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 559.50 611.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 587.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.57 587.10 Td (warrant ) Tj ET Q q 0 0 0 rg BT 100.13 587.10 Td (exercise ) Tj ET Q q 0 0 0 rg BT 134.90 587.10 Td (of) Tj ET Q q 0 0 0 rg BT 143.05 587.10 Td (fer ) Tj ET Q q 0 0 0 rg BT 156.17 587.10 Td (was ) Tj ET Q q 0 0 0 rg BT 173.74 587.10 Td (made ) Tj ET Q q 0 0 0 rg BT 197.42 587.10 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 233.88 587.10 Td (to ) Tj ET Q q 0 0 0 rg BT 243.67 587.10 Td (the ) Tj ET Q q 0 0 0 rg BT 257.91 587.10 Td (terms ) Tj ET Q q 0 0 0 rg BT 282.15 587.10 Td (of ) Tj ET Q q 0 0 0 rg BT 292.35 587.10 Td (W) Tj ET Q q 0 0 0 rg BT 300.99 587.10 Td (arrant ) Tj ET Q q 0 0 0 rg BT 325.88 587.10 Td (Amendment ) Tj ET Q q 0 0 0 rg BT 377.33 587.10 Td (and ) Tj ET Q q 0 0 0 rg BT 393.79 587.10 Td (Exercise ) Tj ET Q q 0 0 0 rg BT 429.79 587.10 Td (Agreements, ) Tj ET Q q 0 0 0 rg BT 482.63 587.10 Td (dated ) Tj ET Q q 0 0 0 rg BT 506.30 587.10 Td (July ) Tj ET Q q 0 0 0 rg BT 524.99 587.10 Td (20, ) Tj ET Q q 0 0 0 rg BT 539.51 587.10 Td (2015, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 575.10 Td (entered ) Tj ET Q q 0 0 0 rg BT 82.39 575.10 Td (into ) Tj ET Q q 0 0 0 rg BT 100.92 575.10 Td (with ) Tj ET Q q 0 0 0 rg BT 121.67 575.10 Td (holders ) Tj ET Q q 0 0 0 rg BT 154.08 575.10 Td (owning ) Tj ET Q q 0 0 0 rg BT 187.05 575.10 Td (more ) Tj ET Q q 0 0 0 rg BT 210.57 575.10 Td (than ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 230.75 575.10 Td (70%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.08 575.10 Td ( ) Tj ET Q q 0 0 0 rg BT 252.05 575.10 Td (of ) Tj ET Q q 0 0 0 rg BT 263.35 575.10 Td (the ) Tj ET Q q 0 0 0 rg BT 278.54 575.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 326.09 575.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 375.73 575.10 Td (2013 ) Tj ET Q q 0 0 0 rg BT 398.70 575.10 Td (and ) Tj ET Q q 0 0 0 rg BT 416.10 575.10 Td (2014 ) Tj ET Q q 0 0 0 rg BT 438.86 575.10 Td (W) Tj ET Q q 0 0 0 rg BT 447.50 575.10 Td (arrants. ) Tj ET Q q 0 0 0 rg BT 480.17 575.10 Td ( ) Tj ET Q q 0 0 0 rg BT 483.15 575.10 Td (In ) Tj ET Q q 0 0 0 rg BT 494.45 575.10 Td (exchange ) Tj ET Q q 0 0 0 rg BT 535.17 575.10 Td (for ) Tj ET Q q 0 0 0 rg BT 549.80 575.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 563.10 Td (reduction ) Tj ET Q q 0 0 0 rg BT 90.07 563.10 Td (in ) Tj ET Q q 0 0 0 rg BT 100.15 563.10 Td (the ) Tj ET Q q 0 0 0 rg BT 114.67 563.10 Td (warrant ) Tj ET Q q 0 0 0 rg BT 147.51 563.10 Td (exercise ) Tj ET Q q 0 0 0 rg BT 182.57 563.10 Td (price, ) Tj ET Q q 0 0 0 rg BT 207.36 563.10 Td (the ) Tj ET Q q 0 0 0 rg BT 221.88 563.10 Td (investors ) Tj ET Q q 0 0 0 rg BT 260.29 563.10 Td (holding ) Tj ET Q q 0 0 0 rg BT 293.15 563.10 Td (a ) Tj ET Q q 0 0 0 rg BT 299.89 563.10 Td (majority ) Tj ET Q q 0 0 0 rg BT 336.08 563.10 Td (of ) Tj ET Q q 0 0 0 rg BT 346.71 563.10 Td (the ) Tj ET Q q 0 0 0 rg BT 361.23 563.10 Td (2014 ) Tj ET Q q 0 0 0 rg BT 383.37 563.10 Td (W) Tj ET Q q 0 0 0 rg BT 392.01 563.10 Td (arrants ) Tj ET Q q 0 0 0 rg BT 421.52 563.10 Td (agreed ) Tj ET Q q 0 0 0 rg BT 450.47 563.10 Td (to ) Tj ET Q q 0 0 0 rg BT 460.55 563.10 Td (amend ) Tj ET Q q 0 0 0 rg BT 489.51 563.10 Td (the ) Tj ET Q q 0 0 0 rg BT 504.03 563.10 Td (2014 ) Tj ET Q q 0 0 0 rg BT 526.17 563.10 Td (W) Tj ET Q q 0 0 0 rg BT 534.80 563.10 Td (arrants ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 551.10 Td (to ) Tj ET Q q 0 0 0 rg BT 60.61 551.10 Td (remove ) Tj ET Q q 0 0 0 rg BT 93.43 551.10 Td (the ) Tj ET Q q 0 0 0 rg BT 108.47 551.10 Td (price-based ) Tj ET Q q 0 0 0 rg BT 157.39 551.10 Td (anti-dilution ) Tj ET Q q 0 0 0 rg BT 209.66 551.10 Td (adjustment ) Tj ET Q q 0 0 0 rg BT 256.37 551.10 Td (provisions ) Tj ET Q q 0 0 0 rg BT 300.87 551.10 Td (contained ) Tj ET Q q 0 0 0 rg BT 342.58 551.10 Td (in ) Tj ET Q q 0 0 0 rg BT 353.18 551.10 Td (the ) Tj ET Q q 0 0 0 rg BT 368.23 551.10 Td (2014 ) Tj ET Q q 0 0 0 rg BT 390.86 551.10 Td (W) Tj ET Q q 0 0 0 rg BT 399.50 551.10 Td (arrants. ) Tj ET Q q 0 0 0 rg BT 431.83 551.10 Td (The ) Tj ET Q q 0 0 0 rg BT 450.21 551.10 Td (removal ) Tj ET Q q 0 0 0 rg BT 485.80 551.10 Td (of ) Tj ET Q q 0 0 0 rg BT 496.96 551.10 Td (these ) Tj ET Q q 0 0 0 rg BT 520.34 551.10 Td (provisions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 539.10 Td (from ) Tj ET Q q 0 0 0 rg BT 71.64 539.10 Td (the ) Tj ET Q q 0 0 0 rg BT 86.06 539.10 Td (2014 ) Tj ET Q q 0 0 0 rg BT 108.10 539.10 Td (W) Tj ET Q q 0 0 0 rg BT 116.74 539.10 Td (arrants ) Tj ET Q q 0 0 0 rg BT 146.15 539.10 Td (eliminated ) Tj ET Q q 0 0 0 rg BT 190.55 539.10 Td (the ) Tj ET Q q 0 0 0 rg BT 204.97 539.10 Td (provision ) Tj ET Q q 0 0 0 rg BT 244.95 539.10 Td (that ) Tj ET Q q 0 0 0 rg BT 262.15 539.10 Td (required ) Tj ET Q q 0 0 0 rg BT 297.66 539.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 330.97 539.10 Td (classification ) Tj ET Q q 0 0 0 rg BT 385.93 539.10 Td (of ) Tj ET Q q 0 0 0 rg BT 396.46 539.10 Td (the ) Tj ET Q q 0 0 0 rg BT 410.88 539.10 Td (2014 ) Tj ET Q q 0 0 0 rg BT 432.92 539.10 Td (W) Tj ET Q q 0 0 0 rg BT 441.56 539.10 Td (arrants ) Tj ET Q q 0 0 0 rg BT 470.97 539.10 Td (and ) Tj ET Q q 0 0 0 rg BT 487.61 539.10 Td (quarterly ) Tj ET Q q 0 0 0 rg BT 525.91 539.10 Td (non-cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 527.10 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 100.41 527.10 Td (reflecting ) Tj ET Q q 0 0 0 rg BT 141.36 527.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 176.20 527.10 Td (in ) Tj ET Q q 0 0 0 rg BT 186.61 527.10 Td (the ) Tj ET Q q 0 0 0 rg BT 201.46 527.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 217.98 527.10 Td (value ) Tj ET Q q 0 0 0 rg BT 242.27 527.10 Td (of ) Tj ET Q q 0 0 0 rg BT 253.23 527.10 Td (the ) Tj ET Q q 0 0 0 rg BT 268.09 527.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 310.70 527.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 344.45 527.10 Td (on ) Tj ET Q q 0 0 0 rg BT 357.08 527.10 Td (the ) Tj ET Q q 0 0 0 rg BT 371.94 527.10 Td (Company) Tj ET Q q 0 0 0 rg BT 413.60 527.10 Td (s ) Tj ET Q q 0 0 0 rg BT 420.13 527.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 457.74 527.10 Td (statements. ) Tj ET Q q 0 0 0 rg BT 505.09 527.10 Td (Except ) Tj ET Q q 0 0 0 rg BT 535.49 527.10 Td (for ) Tj ET Q q 0 0 0 rg BT 549.79 527.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 515.10 Td (temporarily ) Tj ET Q q 0 0 0 rg BT 99.04 515.10 Td (reduced ) Tj ET Q q 0 0 0 rg BT 133.08 515.10 Td (exercise ) Tj ET Q q 0 0 0 rg BT 168.22 515.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 194.49 515.10 Td (and ) Tj ET Q q 0 0 0 rg BT 211.32 515.10 Td (elimination ) Tj ET Q q 0 0 0 rg BT 259.25 515.10 Td (of ) Tj ET Q q 0 0 0 rg BT 269.97 515.10 Td (the ) Tj ET Q q 0 0 0 rg BT 284.58 515.10 Td (anti-dilution ) Tj ET Q q 0 0 0 rg BT 336.41 515.10 Td (adjustment ) Tj ET Q q 0 0 0 rg BT 382.68 515.10 Td (provisions ) Tj ET Q q 0 0 0 rg BT 426.74 515.10 Td (in ) Tj ET Q q 0 0 0 rg BT 436.91 515.10 Td (the ) Tj ET Q q 0 0 0 rg BT 451.52 515.10 Td (2014 ) Tj ET Q q 0 0 0 rg BT 473.73 515.10 Td (W) Tj ET Q q 0 0 0 rg BT 482.37 515.10 Td (arrants, ) Tj ET Q q 0 0 0 rg BT 514.47 515.10 Td (the ) Tj ET Q q 0 0 0 rg BT 529.08 515.10 Td (terms ) Tj ET Q q 0 0 0 rg BT 553.68 515.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 503.10 Td (the ) Tj ET Q q 0 0 0 rg BT 65.25 503.10 Td (2013 ) Tj ET Q q 0 0 0 rg BT 88.06 503.10 Td (W) Tj ET Q q 0 0 0 rg BT 96.70 503.10 Td (arrants ) Tj ET Q q 0 0 0 rg BT 126.94 503.10 Td (and ) Tj ET Q q 0 0 0 rg BT 144.41 503.10 Td (2014 ) Tj ET Q q 0 0 0 rg BT 167.22 503.10 Td (W) Tj ET Q q 0 0 0 rg BT 175.86 503.10 Td (arrants ) Tj ET Q q 0 0 0 rg BT 206.10 503.10 Td (remain ) Tj ET Q q 0 0 0 rg BT 236.90 503.10 Td (unchanged. ) Tj ET Q q 0 0 0 rg BT 285.74 503.10 Td ( ) Tj ET Q q 0 0 0 rg BT 288.11 503.10 Td (As ) Tj ET Q q 0 0 0 rg BT 302.25 503.10 Td (a ) Tj ET Q q 0 0 0 rg BT 309.72 503.10 Td (result ) Tj ET Q q 0 0 0 rg BT 334.97 503.10 Td (of ) Tj ET Q q 0 0 0 rg BT 346.33 503.10 Td (the ) Tj ET Q q 0 0 0 rg BT 361.58 503.10 Td (amendment ) Tj ET Q q 0 0 0 rg BT 411.27 503.10 Td (in ) Tj ET Q q 0 0 0 rg BT 422.08 503.10 Td (the ) Tj ET Q q 0 0 0 rg BT 437.32 503.10 Td (2014 ) Tj ET Q q 0 0 0 rg BT 460.14 503.10 Td (W) Tj ET Q q 0 0 0 rg BT 468.78 503.10 Td (arrants ) Tj ET Q q 0 0 0 rg BT 499.01 503.10 Td (terms, ) Tj ET Q q 0 0 0 rg BT 526.76 503.10 Td (the ) Tj ET Q q 0 0 0 rg BT 542.01 503.10 Td (2014 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 491.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 491.10 Td (arrants ) Tj ET Q q 0 0 0 rg BT 88.34 491.10 Td (no ) Tj ET Q q 0 0 0 rg BT 100.84 491.10 Td (longer ) Tj ET Q q 0 0 0 rg BT 128.89 491.10 Td (require ) Tj ET Q q 0 0 0 rg BT 159.71 491.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 193.32 491.10 Td (classification ) Tj ET Q q 0 0 0 rg BT 248.57 491.10 Td (after ) Tj ET Q q 0 0 0 rg BT 268.84 491.10 Td (August ) Tj ET Q q 0 0 0 rg BT 300.23 491.10 Td (14, ) Tj ET Q q 0 0 0 rg BT 315.23 491.10 Td (2015 ) Tj ET Q q 0 0 0 rg BT 337.73 491.10 Td (\(See ) Tj ET Q q 0 0 0 rg BT 358.00 491.10 Td (Note ) Tj ET Q q 0 0 0 rg BT 379.94 491.10 Td (4\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 467.10 Td (At ) Tj ET Q q 0 0 0 rg BT 62.62 467.10 Td (the ) Tj ET Q q 0 0 0 rg BT 77.45 467.10 Td (close ) Tj ET Q q 0 0 0 rg BT 100.61 467.10 Td (of ) Tj ET Q q 0 0 0 rg BT 111.56 467.10 Td (the ) Tj ET Q q 0 0 0 rg BT 126.39 467.10 Td (of) Tj ET Q q 0 0 0 rg BT 134.54 467.10 Td (fer ) Tj ET Q q 0 0 0 rg BT 148.26 467.10 Td (period ) Tj ET Q q 0 0 0 rg BT 176.42 467.10 Td (on ) Tj ET Q q 0 0 0 rg BT 188.46 467.10 Td (August ) Tj ET Q q 0 0 0 rg BT 219.97 467.10 Td (14, ) Tj ET Q q 0 0 0 rg BT 235.08 467.10 Td (2015, ) Tj ET Q q 0 0 0 rg BT 260.20 467.10 Td ( ) Tj ET Q q 0 0 0 rg BT 262.81 467.10 Td (investors ) Tj ET Q q 0 0 0 rg BT 301.54 467.10 Td (exchanged ) Tj ET Q q 0 0 0 rg BT 346.91 467.10 Td (and ) Tj ET Q q 0 0 0 rg BT 363.96 467.10 Td (converted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.00 467.10 Td (27,856,294) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.00 467.10 Td ( ) Tj ET Q q 0 0 0 rg BT 453.62 467.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 481.23 467.10 Td (underlying ) Tj ET Q q 0 0 0 rg BT 527.17 467.10 Td (the ) Tj ET Q q 0 0 0 rg BT 542.00 467.10 Td (2014 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 455.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 455.10 Td (arrants ) Tj ET Q q 0 0 0 rg BT 88.54 455.10 Td (at ) Tj ET Q q 0 0 0 rg BT 98.46 455.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.37 455.10 Td (26%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.70 455.10 Td ( ) Tj ET Q q 0 0 0 rg BT 134.40 455.10 Td (discount ) Tj ET Q q 0 0 0 rg BT 170.98 455.10 Td (for ) Tj ET Q q 0 0 0 rg BT 185.34 455.10 Td (total ) Tj ET Q q 0 0 0 rg BT 205.81 455.10 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 244.04 455.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.07 455.10 Td ($8,760,805) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.07 455.10 Td ( ) Tj ET Q q 0 0 0 rg BT 302.76 455.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.90 455.10 Td (15,974,508) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.90 455.10 Td ( ) Tj ET Q q 0 0 0 rg BT 367.60 455.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 395.28 455.10 Td (of ) Tj ET Q q 0 0 0 rg BT 406.31 455.10 Td (the ) Tj ET Q q 0 0 0 rg BT 421.22 455.10 Td (2013 ) Tj ET Q q 0 0 0 rg BT 443.72 455.10 Td (W) Tj ET Q q 0 0 0 rg BT 452.36 455.10 Td (arrants ) Tj ET Q q 0 0 0 rg BT 482.27 455.10 Td (at ) Tj ET Q q 0 0 0 rg BT 492.18 455.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.09 455.10 Td (25%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.42 455.10 Td ( ) Tj ET Q q 0 0 0 rg BT 528.12 455.10 Td (discount ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 443.10 Td (for ) Tj ET Q q 0 0 0 rg BT 64.71 443.10 Td (total ) Tj ET Q q 0 0 0 rg BT 85.53 443.10 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 124.12 443.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.50 443.10 Td ($4,100,252) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 180.50 443.10 Td (. ) Tj ET Q q 0 0 0 rg BT 186.05 443.10 Td ( ) Tj ET Q q 0 0 0 rg BT 188.88 443.10 Td (This ) Tj ET Q q 0 0 0 rg BT 209.70 443.10 Td (resulted ) Tj ET Q q 0 0 0 rg BT 244.41 443.10 Td (in ) Tj ET Q q 0 0 0 rg BT 255.24 443.10 Td (the ) Tj ET Q q 0 0 0 rg BT 270.50 443.10 Td (issuance ) Tj ET Q q 0 0 0 rg BT 307.43 443.10 Td (of ) Tj ET Q q 0 0 0 rg BT 318.81 443.10 Td (a ) Tj ET Q q 0 0 0 rg BT 326.30 443.10 Td (total ) Tj ET Q q 0 0 0 rg BT 347.12 443.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.50 443.10 Td (43,830,802) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.50 443.10 Td ( ) Tj ET Q q 0 0 0 rg BT 406.55 443.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 434.59 443.10 Td (of ) Tj ET Q q 0 0 0 rg BT 445.97 443.10 Td (common ) Tj ET Q q 0 0 0 rg BT 484.01 443.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 508.17 443.10 Td (at ) Tj ET Q q 0 0 0 rg BT 518.43 443.10 Td (an ) Tj ET Q q 0 0 0 rg BT 530.92 443.10 Td (average ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 431.10 Td (exercise ) Tj ET Q q 0 0 0 rg BT 85.50 431.10 Td (price ) Tj ET Q q 0 0 0 rg BT 108.23 431.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 119.30 431.10 Td ($0.293) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 146.80 431.10 Td ( ) Tj ET Q q 0 0 0 rg BT 149.54 431.10 Td (per ) Tj ET Q q 0 0 0 rg BT 165.05 431.10 Td (share ) Tj ET Q q 0 0 0 rg BT 188.90 431.10 Td (for ) Tj ET Q q 0 0 0 rg BT 203.30 431.10 Td (total ) Tj ET Q q 0 0 0 rg BT 223.82 431.10 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 262.10 431.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.17 431.10 Td ($12,861,057) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.17 431.10 Td ( ) Tj ET Q q 0 0 0 rg BT 325.91 431.10 Td (less ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.66 431.10 Td ($3,972) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.16 431.10 Td ( ) Tj ET Q q 0 0 0 rg BT 373.90 431.10 Td (in ) Tj ET Q q 0 0 0 rg BT 384.42 431.10 Td (transaction ) Tj ET Q q 0 0 0 rg BT 431.04 431.10 Td (costs. ) Tj ET Q q 0 0 0 rg BT 456.08 431.10 Td (The ) Tj ET Q q 0 0 0 rg BT 474.37 431.10 Td (exercise ) Tj ET Q q 0 0 0 rg BT 509.87 431.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 536.49 431.10 Td (of ) Tj ET Q q 0 0 0 rg BT 547.56 431.10 Td (any ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 419.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 419.10 Td (arrants ) Tj ET Q q 0 0 0 rg BT 88.34 419.10 Td (not ) Tj ET Q q 0 0 0 rg BT 103.62 419.10 Td (exercised ) Tj ET Q q 0 0 0 rg BT 143.88 419.10 Td (during ) Tj ET Q q 0 0 0 rg BT 172.49 419.10 Td (the ) Tj ET Q q 0 0 0 rg BT 187.02 419.10 Td (W) Tj ET Q q 0 0 0 rg BT 195.66 419.10 Td (arrant ) Tj ET Q q 0 0 0 rg BT 221.47 419.10 Td (conversion ) Tj ET Q q 0 0 0 rg BT 267.85 419.10 Td (of) Tj ET Q q 0 0 0 rg BT 276.00 419.10 Td (fer ) Tj ET Q q 0 0 0 rg BT 289.60 419.10 Td (period ) Tj ET Q q 0 0 0 rg BT 317.65 419.10 Td (have ) Tj ET Q q 0 0 0 rg BT 339.02 419.10 Td (reverted ) Tj ET Q q 0 0 0 rg BT 374.28 419.10 Td (back ) Tj ET Q q 0 0 0 rg BT 395.65 419.10 Td (to ) Tj ET Q q 0 0 0 rg BT 405.93 419.10 Td (their ) Tj ET Q q 0 0 0 rg BT 426.76 419.10 Td (original ) Tj ET Q q 0 0 0 rg BT 460.36 419.10 Td (exercise ) Tj ET Q q 0 0 0 rg BT 495.62 419.10 Td (prices. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 395.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.46 395.10 Td (amendment ) Tj ET Q q 0 0 0 rg BT 116.01 395.10 Td (of ) Tj ET Q q 0 0 0 rg BT 126.25 395.10 Td (the ) Tj ET Q q 0 0 0 rg BT 140.24 395.10 Td (W) Tj ET Q q 0 0 0 rg BT 148.88 395.10 Td (arrants ) Tj ET Q q 0 0 0 rg BT 177.99 395.10 Td (to ) Tj ET Q q 0 0 0 rg BT 187.68 395.10 Td (reduce ) Tj ET Q q 0 0 0 rg BT 216.23 395.10 Td (the ) Tj ET Q q 0 0 0 rg BT 230.36 395.10 Td (exercise ) Tj ET Q q 0 0 0 rg BT 265.02 395.10 Td (price ) Tj ET Q q 0 0 0 rg BT 286.91 395.10 Td (required ) Tj ET Q q 0 0 0 rg BT 322.14 395.10 Td (the ) Tj ET Q q 0 0 0 rg BT 336.26 395.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 377.06 395.10 Td (to ) Tj ET Q q 0 0 0 rg BT 386.74 395.10 Td (treat ) Tj ET Q q 0 0 0 rg BT 406.41 395.10 Td (the ) Tj ET Q q 0 0 0 rg BT 420.54 395.10 Td (adjustment ) Tj ET Q q 0 0 0 rg BT 466.33 395.10 Td (as ) Tj ET Q q 0 0 0 rg BT 476.57 395.10 Td (an ) Tj ET Q q 0 0 0 rg BT 487.91 395.10 Td (exchange ) Tj ET Q q 0 0 0 rg BT 527.58 395.10 Td (whereby ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 383.10 Td (it ) Tj ET Q q 0 0 0 rg BT 57.60 383.10 Td (computed ) Tj ET Q q 0 0 0 rg BT 99.07 383.10 Td (the ) Tj ET Q q 0 0 0 rg BT 113.33 383.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 129.24 383.10 Td (value ) Tj ET Q q 0 0 0 rg BT 152.94 383.10 Td (of ) Tj ET Q q 0 0 0 rg BT 163.31 383.10 Td (the ) Tj ET Q q 0 0 0 rg BT 177.42 383.10 Td (W) Tj ET Q q 0 0 0 rg BT 186.06 383.10 Td (arrants ) Tj ET Q q 0 0 0 rg BT 215.30 383.10 Td (immediately ) Tj ET Q q 0 0 0 rg BT 267.33 383.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 288.81 383.10 Td (to ) Tj ET Q q 0 0 0 rg BT 298.63 383.10 Td (the ) Tj ET Q q 0 0 0 rg BT 312.88 383.10 Td (price ) Tj ET Q q 0 0 0 rg BT 334.91 383.10 Td (reduction ) Tj ET Q q 0 0 0 rg BT 374.71 383.10 Td (and ) Tj ET Q q 0 0 0 rg BT 391.19 383.10 Td (the ) Tj ET Q q 0 0 0 rg BT 405.45 383.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 421.36 383.10 Td (value ) Tj ET Q q 0 0 0 rg BT 445.06 383.10 Td (of ) Tj ET Q q 0 0 0 rg BT 455.43 383.10 Td (the ) Tj ET Q q 0 0 0 rg BT 469.54 383.10 Td (W) Tj ET Q q 0 0 0 rg BT 478.18 383.10 Td (arrants ) Tj ET Q q 0 0 0 rg BT 507.42 383.10 Td (after ) Tj ET Q q 0 0 0 rg BT 527.78 383.10 Td (the ) Tj ET Q q 0 0 0 rg BT 542.04 383.10 Td (price ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 371.10 Td (reduction. ) Tj ET Q q 0 0 0 rg BT 92.84 371.10 Td ( ) Tj ET Q q 0 0 0 rg BT 95.24 371.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.37 371.10 Td ($1,197,821) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.37 371.10 Td ( ) Tj ET Q q 0 0 0 rg BT 160.95 371.10 Td (and ) Tj ET Q q 0 0 0 rg BT 177.97 371.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 192.76 371.10 Td ($647,989) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 230.26 371.10 Td ( ) Tj ET Q q 0 0 0 rg BT 232.84 371.10 Td (change ) Tj ET Q q 0 0 0 rg BT 263.74 371.10 Td (in ) Tj ET Q q 0 0 0 rg BT 274.10 371.10 Td (the ) Tj ET Q q 0 0 0 rg BT 288.90 371.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 305.35 371.10 Td (value ) Tj ET Q q 0 0 0 rg BT 329.59 371.10 Td (of ) Tj ET Q q 0 0 0 rg BT 340.50 371.10 Td (the ) Tj ET Q q 0 0 0 rg BT 355.30 371.10 Td (2014 ) Tj ET Q q 0 0 0 rg BT 377.88 371.10 Td (and ) Tj ET Q q 0 0 0 rg BT 394.90 371.10 Td (2013 ) Tj ET Q q 0 0 0 rg BT 417.29 371.10 Td (W) Tj ET Q q 0 0 0 rg BT 425.93 371.10 Td (arrants, ) Tj ET Q q 0 0 0 rg BT 458.22 371.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 505.88 371.10 Td (, ) Tj ET Q q 0 0 0 rg BT 510.96 371.10 Td (as ) Tj ET Q q 0 0 0 rg BT 521.87 371.10 Td (a ) Tj ET Q q 0 0 0 rg BT 528.89 371.10 Td (result ) Tj ET Q q 0 0 0 rg BT 553.68 371.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 359.10 Td (the ) Tj ET Q q 0 0 0 rg BT 65.58 359.10 Td (price ) Tj ET Q q 0 0 0 rg BT 88.94 359.10 Td (reduction, ) Tj ET Q q 0 0 0 rg BT 132.57 359.10 Td (was ) Tj ET Q q 0 0 0 rg BT 151.49 359.10 Td (treated ) Tj ET Q q 0 0 0 rg BT 182.06 359.10 Td (as ) Tj ET Q q 0 0 0 rg BT 193.76 359.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.57 359.10 Td ($1,845,810) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.57 359.10 Td ( ) Tj ET Q q 0 0 0 rg BT 249.93 359.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 268.86 359.10 Td (on ) Tj ET Q q 0 0 0 rg BT 282.23 359.10 Td (exchange ) Tj ET Q q 0 0 0 rg BT 323.35 359.10 Td (and ) Tj ET Q q 0 0 0 rg BT 341.16 359.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 379.50 359.10 Td (in ) Tj ET Q q 0 0 0 rg BT 390.65 359.10 Td (the ) Tj ET Q q 0 0 0 rg BT 406.24 359.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 454.18 359.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 508.09 359.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 553.67 359.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 347.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 94.16 347.10 Td (during ) Tj ET Q q 0 0 0 rg BT 122.76 347.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.48 347.10 Td (three ) Tj ET Q q 0 0 0 rg BT 159.97 347.10 Td (and ) Tj ET Q q 0 0 0 rg BT 176.90 347.10 Td (nine ) Tj ET Q q 0 0 0 rg BT 196.62 347.10 Td (months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.07 347.10 Td ( ) Tj ET Q q 0 0 0 rg BT 228.57 347.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.95 347.10 Td (September30, ) Tj ET Q q 0 0 0 rg BT 315.21 347.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.21 347.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 323.10 Td (As ) Tj ET Q q 0 0 0 rg BT 63.76 323.10 Td (a ) Tj ET Q q 0 0 0 rg BT 70.85 323.10 Td (result ) Tj ET Q q 0 0 0 rg BT 95.72 323.10 Td (of ) Tj ET Q q 0 0 0 rg BT 106.70 323.10 Td (the ) Tj ET Q q 0 0 0 rg BT 121.57 323.10 Td (above ) Tj ET Q q 0 0 0 rg BT 148.09 323.10 Td (transactions, ) Tj ET Q q 0 0 0 rg BT 201.01 323.10 Td (the ) Tj ET Q q 0 0 0 rg BT 215.88 323.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 232.40 323.10 Td (value ) Tj ET Q q 0 0 0 rg BT 256.71 323.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.69 323.10 Td ($5,348,408) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.69 323.10 Td ( ) Tj ET Q q 0 0 0 rg BT 315.34 323.10 Td (on ) Tj ET Q q 0 0 0 rg BT 327.99 323.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.86 323.10 Td (27,856,294) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.86 323.10 Td ( ) Tj ET Q q 0 0 0 rg BT 390.51 323.10 Td (exercised ) Tj ET Q q 0 0 0 rg BT 430.91 323.10 Td (2014 ) Tj ET Q q 0 0 0 rg BT 453.37 323.10 Td (W) Tj ET Q q 0 0 0 rg BT 462.01 323.10 Td (arrants ) Tj ET Q q 0 0 0 rg BT 491.87 323.10 Td (and ) Tj ET Q q 0 0 0 rg BT 508.95 323.10 Td (the ) Tj ET Q q 0 0 0 rg BT 523.82 323.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 540.35 323.10 Td (value ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 311.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.06 311.10 Td ($1,181,638) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 106.06 311.10 Td ( ) Tj ET Q q 0 0 0 rg BT 108.79 311.10 Td (on ) Tj ET Q q 0 0 0 rg BT 121.52 311.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 136.46 311.10 Td (7,930,456) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.46 311.10 Td ( ) Tj ET Q q 0 0 0 rg BT 179.19 311.10 Td (remaining ) Tj ET Q q 0 0 0 rg BT 222.46 311.10 Td (unexercised ) Tj ET Q q 0 0 0 rg BT 272.94 311.10 Td (2014 ) Tj ET Q q 0 0 0 rg BT 295.47 311.10 Td (W) Tj ET Q q 0 0 0 rg BT 304.11 311.10 Td (arrants ) Tj ET Q q 0 0 0 rg BT 334.05 311.10 Td (as ) Tj ET Q q 0 0 0 rg BT 345.11 311.10 Td (of ) Tj ET Q q 0 0 0 rg BT 355.56 311.10 Td (August ) Tj ET Q q 0 0 0 rg BT 387.18 311.10 Td (14, ) Tj ET Q q 0 0 0 rg BT 402.41 311.10 Td (2015 ) Tj ET Q q 0 0 0 rg BT 425.14 311.10 Td (was ) Tj ET Q q 0 0 0 rg BT 443.42 311.10 Td (moved ) Tj ET Q q 0 0 0 rg BT 473.36 311.10 Td (to ) Tj ET Q q 0 0 0 rg BT 483.87 311.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 511.59 311.10 Td (as ) Tj ET Q q 0 0 0 rg BT 522.65 311.10 Td (of ) Tj ET Q q 0 0 0 rg BT 533.11 311.10 Td (August ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 299.10 Td (14, ) Tj ET Q q 0 0 0 rg BT 65.33 299.10 Td (2015. ) Tj ET Q q 0 0 0 rg BT 90.45 299.10 Td (This ) Tj ET Q q 0 0 0 rg BT 111.05 299.10 Td (reclassification ) Tj ET Q q 0 0 0 rg BT 174.41 299.10 Td (plus ) Tj ET Q q 0 0 0 rg BT 193.90 299.10 Td (the) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.12 299.10 Td ($647,989) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.62 299.10 Td ( ) Tj ET Q q 0 0 0 rg BT 246.44 299.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 264.83 299.10 Td (on ) Tj ET Q q 0 0 0 rg BT 277.66 299.10 Td (exchange ) Tj ET Q q 0 0 0 rg BT 318.24 299.10 Td (of ) Tj ET Q q 0 0 0 rg BT 329.40 299.10 Td (the ) Tj ET Q q 0 0 0 rg BT 344.44 299.10 Td (2013 ) Tj ET Q q 0 0 0 rg BT 367.06 299.10 Td (W) Tj ET Q q 0 0 0 rg BT 375.70 299.10 Td (arrants ) Tj ET Q q 0 0 0 rg BT 405.73 299.10 Td (already ) Tj ET Q q 0 0 0 rg BT 437.98 299.10 Td (classified ) Tj ET Q q 0 0 0 rg BT 478.57 299.10 Td (as ) Tj ET Q q 0 0 0 rg BT 489.73 299.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 517.55 299.10 Td (reflects ) Tj ET Q q 0 0 0 rg BT 549.80 299.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 287.10 Td ($7,178,035) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 287.10 Td ( ) Tj ET Q q 0 0 0 rg BT 97.50 287.10 Td (total ) Tj ET Q q 0 0 0 rg BT 117.77 287.10 Td (change ) Tj ET Q q 0 0 0 rg BT 148.59 287.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 186.06 287.10 Td (in ) Tj ET Q q 0 0 0 rg BT 196.34 287.10 Td (the ) Tj ET Q q 0 0 0 rg BT 211.06 287.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 258.14 287.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 311.18 287.10 Td (statement ) Tj ET Q q 0 0 0 rg BT 352.00 287.10 Td (of ) Tj ET Q q 0 0 0 rg BT 362.83 287.10 Td (stockholders' ) Tj ET Q q 0 0 0 rg BT 417.68 287.10 Td (equity) Tj ET Q q 0 0 0 rg BT 442.03 287.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 263.10 Td (The ) Tj ET Q q 0 0 0 rg BT 68.17 263.10 Td (resale ) Tj ET Q q 0 0 0 rg BT 94.10 263.10 Td (of ) Tj ET Q q 0 0 0 rg BT 105.05 263.10 Td (the ) Tj ET Q q 0 0 0 rg BT 119.89 263.10 Td (common ) Tj ET Q q 0 0 0 rg BT 157.50 263.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 181.23 263.10 Td (underlying ) Tj ET Q q 0 0 0 rg BT 227.18 263.10 Td (the ) Tj ET Q q 0 0 0 rg BT 242.01 263.10 Td (2013 ) Tj ET Q q 0 0 0 rg BT 264.63 263.10 Td (and ) Tj ET Q q 0 0 0 rg BT 281.69 263.10 Td (2014 ) Tj ET Q q 0 0 0 rg BT 304.12 263.10 Td (W) Tj ET Q q 0 0 0 rg BT 312.76 263.10 Td (arrants ) Tj ET Q q 0 0 0 rg BT 342.58 263.10 Td (is ) Tj ET Q q 0 0 0 rg BT 351.87 263.10 Td (covered ) Tj ET Q q 0 0 0 rg BT 386.14 263.10 Td (by ) Tj ET Q q 0 0 0 rg BT 398.76 263.10 Td (IZEA) Tj ET Q q 0 0 0 rg BT 420.42 263.10 Td () Tj ET Q q 0 0 0 rg BT 423.20 263.10 Td (s ) Tj ET Q q 0 0 0 rg BT 429.71 263.10 Td (Registration ) Tj ET Q q 0 0 0 rg BT 481.21 263.10 Td (Statements ) Tj ET Q q 0 0 0 rg BT 527.71 263.10 Td (on ) Tj ET Q q 0 0 0 rg BT 540.33 263.10 Td (Form ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 251.10 Td (S-1 ) Tj ET Q q 0 0 0 rg BT 65.34 251.10 Td (\(Registration ) Tj ET Q q 0 0 0 rg BT 119.00 251.10 Td (Nos. ) Tj ET Q q 0 0 0 rg BT 139.07 251.10 Td (333-191743, ) Tj ET Q q 0 0 0 rg BT 191.35 251.10 Td (333-195081 ) Tj ET Q q 0 0 0 rg BT 241.13 251.10 Td (and ) Tj ET Q q 0 0 0 rg BT 257.02 251.10 Td (333-197482\), ) Tj ET Q q 0 0 0 rg BT 312.63 251.10 Td (which ) Tj ET Q q 0 0 0 rg BT 338.52 251.10 Td (are ) Tj ET Q q 0 0 0 rg BT 352.17 251.10 Td (on ) Tj ET Q q 0 0 0 rg BT 363.62 251.10 Td (file ) Tj ET Q q 0 0 0 rg BT 378.40 251.10 Td (with ) Tj ET Q q 0 0 0 rg BT 397.63 251.10 Td (the ) Tj ET Q q 0 0 0 rg BT 411.29 251.10 Td (Securities ) Tj ET Q q 0 0 0 rg BT 452.18 251.10 Td (and ) Tj ET Q q 0 0 0 rg BT 468.07 251.10 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 508.94 251.10 Td (Commission. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 239.10 Td (As ) Tj ET Q q 0 0 0 rg BT 64.36 239.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.94 239.10 Td (September30, ) Tj ET Q q 0 0 0 rg BT 136.96 239.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 156.96 239.10 Td (, ) Tj ET Q q 0 0 0 rg BT 162.71 239.10 Td (the ) Tj ET Q q 0 0 0 rg BT 178.17 239.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 220.31 239.10 Td (has ) Tj ET Q q 0 0 0 rg BT 236.89 239.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 286.80 239.10 Td (warrants ) Tj ET Q q 0 0 0 rg BT 324.48 239.10 Td (to ) Tj ET Q q 0 0 0 rg BT 335.51 239.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 374.29 239.10 Td (a ) Tj ET Q q 0 0 0 rg BT 381.98 239.10 Td (total ) Tj ET Q q 0 0 0 rg BT 403.01 239.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.58 239.10 Td (10,461,863) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.58 239.10 Td ( ) Tj ET Q q 0 0 0 rg BT 462.83 239.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 491.07 239.10 Td (of ) Tj ET Q q 0 0 0 rg BT 502.65 239.10 Td (common ) Tj ET Q q 0 0 0 rg BT 540.90 239.10 Td (stock ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 227.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 99.17 227.10 Td (with ) Tj ET Q q 0 0 0 rg BT 119.44 227.10 Td (an ) Tj ET Q q 0 0 0 rg BT 131.38 227.10 Td (average ) Tj ET Q q 0 0 0 rg BT 164.97 227.10 Td (exercise ) Tj ET Q q 0 0 0 rg BT 200.22 227.10 Td (price ) Tj ET Q q 0 0 0 rg BT 222.71 227.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.54 227.10 Td ($0.46) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.04 227.10 Td ( ) Tj ET Q q 0 0 0 rg BT 258.54 227.10 Td (per ) Tj ET Q q 0 0 0 rg BT 273.80 227.10 Td (share. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 50 201.53505859375002 m 110.29296875 201.53505859375002 l s q 0 0 0 rg BT 50.00 203.10 Td (Stock ) Tj ET Q q 0 0 0 rg BT 76.39 203.10 Td (Options) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.29 203.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 191.10 Td (In ) Tj ET Q q 0 0 0 rg BT 60.50 191.10 Td (May ) Tj ET Q q 0 0 0 rg BT 80.99 191.10 Td (201) Tj ET Q q 0 0 0 rg BT 95.62 191.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 105.29 191.10 Td (the ) Tj ET Q q 0 0 0 rg BT 119.67 191.10 Td (Board ) Tj ET Q q 0 0 0 rg BT 146.28 191.10 Td (of ) Tj ET Q q 0 0 0 rg BT 156.78 191.10 Td (Directors ) Tj ET Q q 0 0 0 rg BT 196.15 191.10 Td (adopted ) Tj ET Q q 0 0 0 rg BT 229.97 191.10 Td (the ) Tj ET Q q 0 0 0 rg BT 244.36 191.10 Td (201) Tj ET Q q 0 0 0 rg BT 258.99 191.10 Td (1 ) Tj ET Q q 0 0 0 rg BT 266.15 191.10 Td (Equity ) Tj ET Q q 0 0 0 rg BT 294.98 191.10 Td (Incentive ) Tj ET Q q 0 0 0 rg BT 334.35 191.10 Td (Plan ) Tj ET Q q 0 0 0 rg BT 354.30 191.10 Td (of ) Tj ET Q q 0 0 0 rg BT 364.80 191.10 Td (IZEA, ) Tj ET Q q 0 0 0 rg BT 392.23 191.10 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 409.67 191.10 Td (\(the ) Tj ET Q q 0 0 0 rg BT 427.38 191.10 Td (May ) Tj ET Q q 0 0 0 rg BT 452.32 191.10 Td (201) Tj ET Q q 0 0 0 rg BT 466.95 191.10 Td (1 ) Tj ET Q q 0 0 0 rg BT 474.11 191.10 Td (Plan\). ) Tj ET Q q 0 0 0 rg BT 504.17 191.10 Td (The ) Tj ET Q q 0 0 0 rg BT 521.88 191.10 Td (May ) Tj ET Q q 0 0 0 rg BT 542.38 191.10 Td (201) Tj ET Q q 0 0 0 rg BT 557.01 191.10 Td (1 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 179.10 Td (Plan ) Tj ET Q q 0 0 0 rg BT 70.17 179.10 Td (allows ) Tj ET Q q 0 0 0 rg BT 98.68 179.10 Td (the ) Tj ET Q q 0 0 0 rg BT 113.29 179.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 154.58 179.10 Td (to ) Tj ET Q q 0 0 0 rg BT 164.75 179.10 Td (grant ) Tj ET Q q 0 0 0 rg BT 187.69 179.10 Td (options ) Tj ET Q q 0 0 0 rg BT 219.54 179.10 Td (to ) Tj ET Q q 0 0 0 rg BT 229.71 179.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 267.65 179.10 Td (up ) Tj ET Q q 0 0 0 rg BT 280.04 179.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.22 179.10 Td (20,000,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.22 179.10 Td ( ) Tj ET Q q 0 0 0 rg BT 337.62 179.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 365.00 179.10 Td (as ) Tj ET Q q 0 0 0 rg BT 375.73 179.10 Td (an ) Tj ET Q q 0 0 0 rg BT 387.56 179.10 Td (incentive ) Tj ET Q q 0 0 0 rg BT 426.61 179.10 Td (for ) Tj ET Q q 0 0 0 rg BT 440.67 179.10 Td (its ) Tj ET Q q 0 0 0 rg BT 452.51 179.10 Td (employees ) Tj ET Q q 0 0 0 rg BT 497.67 179.10 Td (and ) Tj ET Q q 0 0 0 rg BT 514.51 179.10 Td (consultants. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 167.10 Td (As ) Tj ET Q q 0 0 0 rg BT 63.66 167.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.53 167.10 Td (September30, ) Tj ET Q q 0 0 0 rg BT 134.84 167.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.84 167.10 Td (, ) Tj ET Q q 0 0 0 rg BT 159.88 167.10 Td (the ) Tj ET Q q 0 0 0 rg BT 174.64 167.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 216.07 167.10 Td (had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.06 167.10 Td (5,207,283) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.06 167.10 Td ( ) Tj ET Q q 0 0 0 rg BT 275.60 167.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 303.13 167.10 Td (of ) Tj ET Q q 0 0 0 rg BT 314.01 167.10 Td (common ) Tj ET Q q 0 0 0 rg BT 351.55 167.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 375.20 167.10 Td (available ) Tj ET Q q 0 0 0 rg BT 413.83 167.10 Td (for ) Tj ET Q q 0 0 0 rg BT 428.04 167.10 Td (future ) Tj ET Q q 0 0 0 rg BT 454.46 167.10 Td (grants ) Tj ET Q q 0 0 0 rg BT 481.44 167.10 Td (under ) Tj ET Q q 0 0 0 rg BT 506.75 167.10 Td (the ) Tj ET Q q 0 0 0 rg BT 521.51 167.10 Td (May ) Tj ET Q q 0 0 0 rg BT 542.39 167.10 Td (201) Tj ET Q q 0 0 0 rg BT 557.02 167.10 Td (1 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 155.10 Td (Plan. ) Tj ET Q q 0 0 0 rg BT 72.78 155.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 131.10 Td (On ) Tj ET Q q 0 0 0 rg BT 64.08 131.10 Td (August ) Tj ET Q q 0 0 0 rg BT 95.35 131.10 Td (22, ) Tj ET Q q 0 0 0 rg BT 110.23 131.10 Td (201) Tj ET Q q 0 0 0 rg BT 124.86 131.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 134.74 131.10 Td (the ) Tj ET Q q 0 0 0 rg BT 149.34 131.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 190.61 131.10 Td (adopted ) Tj ET Q q 0 0 0 rg BT 224.65 131.10 Td (the ) Tj ET Q q 0 0 0 rg BT 239.25 131.10 Td (201) Tj ET Q q 0 0 0 rg BT 253.88 131.10 Td (1 ) Tj ET Q q 0 0 0 rg BT 261.26 131.10 Td (B ) Tj ET Q q 0 0 0 rg BT 270.31 131.10 Td (Equity ) Tj ET Q q 0 0 0 rg BT 299.36 131.10 Td (Incentive ) Tj ET Q q 0 0 0 rg BT 338.94 131.10 Td (Plan ) Tj ET Q q 0 0 0 rg BT 359.10 131.10 Td (\(the ) Tj ET Q q 0 0 0 rg BT 377.03 131.10 Td (August ) Tj ET Q q 0 0 0 rg BT 412.74 131.10 Td (201) Tj ET Q q 0 0 0 rg BT 427.37 131.10 Td (1 ) Tj ET Q q 0 0 0 rg BT 434.75 131.10 Td (Plan\) ) Tj ET Q q 0 0 0 rg BT 462.68 131.10 Td (reserving ) Tj ET Q q 0 0 0 rg BT 502.27 131.10 Td (for ) Tj ET Q q 0 0 0 rg BT 516.31 131.10 Td (issuance ) Tj ET Q q 0 0 0 rg BT 552.57 131.10 Td (an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 119.10 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 91.00 119.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.46 119.10 Td (87,500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.96 119.10 Td ( ) Tj ET Q q 0 0 0 rg BT 131.09 119.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 158.22 119.10 Td (of ) Tj ET Q q 0 0 0 rg BT 168.68 119.10 Td (common ) Tj ET Q q 0 0 0 rg BT 205.81 119.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 229.05 119.10 Td (under ) Tj ET Q q 0 0 0 rg BT 253.96 119.10 Td (the ) Tj ET Q q 0 0 0 rg BT 267.83 119.10 Td (August ) Tj ET Q q 0 0 0 rg BT 298.86 119.10 Td (201) Tj ET Q q 0 0 0 rg BT 313.49 119.10 Td (1 ) Tj ET Q q 0 0 0 rg BT 320.62 119.10 Td (Plan. ) Tj ET Q q 0 0 0 rg BT 343.04 119.10 Td ( ) Tj ET Q q 0 0 0 rg BT 344.70 119.10 Td (As ) Tj ET Q q 0 0 0 rg BT 357.95 119.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.41 119.10 Td (September30, ) Tj ET Q q 0 0 0 rg BT 428.31 119.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.31 119.10 Td (, ) Tj ET Q q 0 0 0 rg BT 452.94 119.10 Td (the ) Tj ET Q q 0 0 0 rg BT 467.29 119.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 508.31 119.10 Td (had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.88 119.10 Td (no) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.88 119.10 Td ( ) Tj ET Q q 0 0 0 rg BT 537.02 119.10 Td (shares ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 107.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.83 107.10 Td (common ) Tj ET Q q 0 0 0 rg BT 98.33 107.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 121.93 107.10 Td (available ) Tj ET Q q 0 0 0 rg BT 160.52 107.10 Td (for ) Tj ET Q q 0 0 0 rg BT 174.68 107.10 Td (future ) Tj ET Q q 0 0 0 rg BT 201.06 107.10 Td (grants ) Tj ET Q q 0 0 0 rg BT 228.00 107.10 Td (under ) Tj ET Q q 0 0 0 rg BT 253.27 107.10 Td (the ) Tj ET Q q 0 0 0 rg BT 267.43 107.10 Td (August ) Tj ET Q q 0 0 0 rg BT 298.82 107.10 Td (201) Tj ET Q q 0 0 0 rg BT 313.45 107.10 Td (1 ) Tj ET Q q 0 0 0 rg BT 320.95 107.10 Td (Plan.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 83.10 Td (Under ) Tj ET Q q 0 0 0 rg BT 77.85 83.10 Td (both ) Tj ET Q q 0 0 0 rg BT 98.49 83.10 Td (the ) Tj ET Q q 0 0 0 rg BT 113.57 83.10 Td (May ) Tj ET Q q 0 0 0 rg BT 134.76 83.10 Td (201) Tj ET Q q 0 0 0 rg BT 149.39 83.10 Td (1 ) Tj ET Q q 0 0 0 rg BT 157.25 83.10 Td (Plan ) Tj ET Q q 0 0 0 rg BT 177.88 83.10 Td (and ) Tj ET Q q 0 0 0 rg BT 195.18 83.10 Td (the ) Tj ET Q q 0 0 0 rg BT 209.63 83.10 Td (August ) Tj ET Q q 0 0 0 rg BT 241.38 83.10 Td (201) Tj ET Q q 0 0 0 rg BT 256.01 83.10 Td (1 ) Tj ET Q q 0 0 0 rg BT 263.87 83.10 Td (Plan ) Tj ET Q q 0 0 0 rg BT 284.51 83.10 Td (\(together) Tj ET Q q 0 0 0 rg BT 320.20 83.10 Td (, ) Tj ET Q q 0 0 0 rg BT 325.56 83.10 Td (the ) Tj ET Q q 0 0 0 rg BT 340.64 83.10 Td ("201) Tj ET Q q 0 0 0 rg BT 359.35 83.10 Td (1 ) Tj ET Q q 0 0 0 rg BT 367.21 83.10 Td (Equity ) Tj ET Q q 0 0 0 rg BT 396.74 83.10 Td (Incentive ) Tj ET Q q 0 0 0 rg BT 436.80 83.10 Td (Plans"\), ) Tj ET Q q 0 0 0 rg BT 471.24 83.10 Td (the ) Tj ET Q q 0 0 0 rg BT 486.32 83.10 Td (Board ) Tj ET Q q 0 0 0 rg BT 513.62 83.10 Td (of ) Tj ET Q q 0 0 0 rg BT 524.81 83.10 Td (Directors ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 71.10 Td (determines ) Tj ET Q q 0 0 0 rg BT 96.40 71.10 Td (the ) Tj ET Q q 0 0 0 rg BT 111.14 71.10 Td (exercise ) Tj ET Q q 0 0 0 rg BT 146.42 71.10 Td (price ) Tj ET Q q 0 0 0 rg BT 168.93 71.10 Td (to ) Tj ET Q q 0 0 0 rg BT 179.23 71.10 Td (be ) Tj ET Q q 0 0 0 rg BT 191.19 71.10 Td (paid ) Tj ET Q q 0 0 0 rg BT 210.93 71.10 Td (for ) Tj ET Q q 0 0 0 rg BT 225.12 71.10 Td (the ) Tj ET Q q 0 0 0 rg BT 239.86 71.10 Td (shares, ) Tj ET Q q 0 0 0 rg BT 269.87 71.10 Td (the ) Tj ET Q q 0 0 0 rg BT 284.61 71.10 Td (period ) Tj ET Q q 0 0 0 rg BT 312.69 71.10 Td (within ) Tj ET Q q 0 0 0 rg BT 340.77 71.10 Td (which ) Tj ET Q q 0 0 0 rg BT 367.73 71.10 Td (each ) Tj ET Q q 0 0 0 rg BT 388.57 71.10 Td (option ) Tj ET Q q 0 0 0 rg BT 416.65 71.10 Td (may ) Tj ET Q q 0 0 0 rg BT 436.39 71.10 Td (be ) Tj ET Q q 0 0 0 rg BT 448.35 71.10 Td (exercised, ) Tj ET Q q 0 0 0 rg BT 491.13 71.10 Td (and ) Tj ET Q q 0 0 0 rg BT 508.10 71.10 Td (the ) Tj ET Q q 0 0 0 rg BT 522.84 71.10 Td (terms ) Tj ET Q q 0 0 0 rg BT 547.58 71.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 59.10 Td (conditions ) Tj ET Q q 0 0 0 rg BT 94.33 59.10 Td (of ) Tj ET Q q 0 0 0 rg BT 105.33 59.10 Td (each ) Tj ET Q q 0 0 0 rg BT 126.31 59.10 Td (option. ) Tj ET Q q 0 0 0 rg BT 156.83 59.10 Td (The ) Tj ET Q q 0 0 0 rg BT 175.05 59.10 Td (exercise ) Tj ET Q q 0 0 0 rg BT 210.47 59.10 Td (price ) Tj ET Q q 0 0 0 rg BT 233.12 59.10 Td (of ) Tj ET Q q 0 0 0 rg BT 244.11 59.10 Td (the ) Tj ET Q q 0 0 0 rg BT 258.99 59.10 Td (incentive ) Tj ET Q q 0 0 0 rg BT 298.31 59.10 Td (and ) Tj ET Q q 0 0 0 rg BT 315.41 59.10 Td (non-qualified ) Tj ET Q q 0 0 0 rg BT 371.95 59.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 395.72 59.10 Td (options ) Tj ET Q q 0 0 0 rg BT 427.84 59.10 Td (may ) Tj ET Q q 0 0 0 rg BT 447.72 59.10 Td (not ) Tj ET Q q 0 0 0 rg BT 463.16 59.10 Td (be ) Tj ET Q q 0 0 0 rg BT 475.26 59.10 Td (less ) Tj ET Q q 0 0 0 rg BT 492.93 59.10 Td (than ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.81 59.10 Td (100%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.14 59.10 Td ( ) Tj ET Q q 0 0 0 rg BT 538.81 59.10 Td (of ) Tj ET Q q 0 0 0 rg BT 549.80 59.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 47.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 66.00 47.10 Td (market ) Tj ET Q q 0 0 0 rg BT 95.89 47.10 Td (value ) Tj ET Q q 0 0 0 rg BT 119.68 47.10 Td (per ) Tj ET Q q 0 0 0 rg BT 134.57 47.10 Td (share ) Tj ET Q q 0 0 0 rg BT 157.80 47.10 Td (of ) Tj ET Q q 0 0 0 rg BT 168.25 47.10 Td (the ) Tj ET Q q 0 0 0 rg BT 182.60 47.10 Td (Company) Tj ET Q q 0 0 0 rg BT 224.26 47.10 Td (s ) Tj ET Q q 0 0 0 rg BT 230.28 47.10 Td (common ) Tj ET Q q 0 0 0 rg BT 267.40 47.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 290.63 47.10 Td (on ) Tj ET Q q 0 0 0 rg BT 302.76 47.10 Td (the ) Tj ET Q q 0 0 0 rg BT 317.10 47.10 Td (grant ) Tj ET Q q 0 0 0 rg BT 339.78 47.10 Td (date. ) Tj ET Q q 0 0 0 rg BT 361.06 47.10 Td (If ) Tj ET Q q 0 0 0 rg BT 369.85 47.10 Td (an ) Tj ET Q q 0 0 0 rg BT 381.41 47.10 Td (individual ) Tj ET Q q 0 0 0 rg BT 424.09 47.10 Td (owns ) Tj ET Q q 0 0 0 rg BT 447.33 47.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 470.56 47.10 Td (representing ) Tj ET Q q 0 0 0 rg BT 522.11 47.10 Td (more ) Tj ET Q q 0 0 0 rg BT 544.79 47.10 Td (than ) Tj ET Q endstream endobj 39 0 obj <> endobj 40 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 283.05 772.75 Td (IZEA, Inc.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 181.55 760.75 Td (Notes to the Unaudited Consolidated Financial Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 731.10 Td (10%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.33 731.10 Td ( ) Tj ET Q q 0 0 0 rg BT 70.44 731.10 Td (of ) Tj ET Q q 0 0 0 rg BT 80.88 731.10 Td (the ) Tj ET Q q 0 0 0 rg BT 95.21 731.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 143.98 731.10 Td (shares, ) Tj ET Q q 0 0 0 rg BT 173.58 731.10 Td (the ) Tj ET Q q 0 0 0 rg BT 187.91 731.10 Td (price ) Tj ET Q q 0 0 0 rg BT 210.00 731.10 Td (of ) Tj ET Q q 0 0 0 rg BT 220.44 731.10 Td (each ) Tj ET Q q 0 0 0 rg BT 240.86 731.10 Td (share ) Tj ET Q q 0 0 0 rg BT 264.07 731.10 Td (of ) Tj ET Q q 0 0 0 rg BT 274.51 731.10 Td (an ) Tj ET Q q 0 0 0 rg BT 286.06 731.10 Td (incentive ) Tj ET Q q 0 0 0 rg BT 324.82 731.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 348.04 731.10 Td (option ) Tj ET Q q 0 0 0 rg BT 375.70 731.10 Td (must ) Tj ET Q q 0 0 0 rg BT 397.26 731.10 Td (be ) Tj ET Q q 0 0 0 rg BT 408.81 731.10 Td (equal ) Tj ET Q q 0 0 0 rg BT 432.57 731.10 Td (to ) Tj ET Q q 0 0 0 rg BT 442.46 731.10 Td (or ) Tj ET Q q 0 0 0 rg BT 452.90 731.10 Td (exceed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.76 731.10 Td (1) Tj ET Q q 0 0 0 rg BT 487.39 731.10 Td (10%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.72 731.10 Td ( ) Tj ET Q q 0 0 0 rg BT 507.83 731.10 Td (of ) Tj ET Q q 0 0 0 rg BT 518.27 731.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 534.26 731.10 Td (market ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 719.10 Td (value. ) Tj ET Q q 0 0 0 rg BT 77.04 719.10 Td (Unless ) Tj ET Q q 0 0 0 rg BT 107.14 719.10 Td (otherwise ) Tj ET Q q 0 0 0 rg BT 148.90 719.10 Td (determined ) Tj ET Q q 0 0 0 rg BT 196.76 719.10 Td (by ) Tj ET Q q 0 0 0 rg BT 209.64 719.10 Td (the ) Tj ET Q q 0 0 0 rg BT 224.74 719.10 Td (Board ) Tj ET Q q 0 0 0 rg BT 252.06 719.10 Td (of ) Tj ET Q q 0 0 0 rg BT 263.27 719.10 Td (Directors ) Tj ET Q q 0 0 0 rg BT 303.35 719.10 Td (at ) Tj ET Q q 0 0 0 rg BT 313.45 719.10 Td (the ) Tj ET Q q 0 0 0 rg BT 328.55 719.10 Td (time ) Tj ET Q q 0 0 0 rg BT 349.20 719.10 Td (of ) Tj ET Q q 0 0 0 rg BT 360.42 719.10 Td (grant, ) Tj ET Q q 0 0 0 rg BT 386.34 719.10 Td (the ) Tj ET Q q 0 0 0 rg BT 401.44 719.10 Td (right ) Tj ET Q q 0 0 0 rg BT 423.21 719.10 Td (to ) Tj ET Q q 0 0 0 rg BT 433.87 719.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 472.29 719.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 500.16 719.10 Td (covered ) Tj ET Q q 0 0 0 rg BT 534.68 719.10 Td (by ) Tj ET Q q 0 0 0 rg BT 547.56 719.10 Td (any ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 707.10 Td (options ) Tj ET Q q 0 0 0 rg BT 81.49 707.10 Td (under ) Tj ET Q q 0 0 0 rg BT 106.30 707.10 Td (the ) Tj ET Q q 0 0 0 rg BT 120.56 707.10 Td (201) Tj ET Q q 0 0 0 rg BT 135.19 707.10 Td (1 ) Tj ET Q q 0 0 0 rg BT 142.23 707.10 Td (Equity ) Tj ET Q q 0 0 0 rg BT 170.93 707.10 Td (Incentive ) Tj ET Q q 0 0 0 rg BT 210.18 707.10 Td (Plans ) Tj ET Q q 0 0 0 rg BT 233.89 707.10 Td (typically ) Tj ET Q q 0 0 0 rg BT 270.92 707.10 Td (vest ) Tj ET Q q 0 0 0 rg BT 289.07 707.10 Td (over ) Tj ET Q q 0 0 0 rg BT 308.88 707.10 Td (the ) Tj ET Q q 0 0 0 rg BT 323.13 707.10 Td (requisite ) Tj ET Q q 0 0 0 rg BT 359.61 707.10 Td (service ) Tj ET Q q 0 0 0 rg BT 389.97 707.10 Td (period ) Tj ET Q q 0 0 0 rg BT 417.55 707.10 Td (as ) Tj ET Q q 0 0 0 rg BT 427.92 707.10 Td (follows: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.74 707.10 Td (25%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.07 707.10 Td ( ) Tj ET Q q 0 0 0 rg BT 483.12 707.10 Td (of ) Tj ET Q q 0 0 0 rg BT 493.49 707.10 Td (options ) Tj ET Q q 0 0 0 rg BT 524.98 707.10 Td (shall ) Tj ET Q q 0 0 0 rg BT 545.90 707.10 Td (vest ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 695.10 Td (one ) Tj ET Q q 0 0 0 rg BT 66.85 695.10 Td (year ) Tj ET Q q 0 0 0 rg BT 86.46 695.10 Td (from ) Tj ET Q q 0 0 0 rg BT 108.31 695.10 Td (the ) Tj ET Q q 0 0 0 rg BT 122.94 695.10 Td (date ) Tj ET Q q 0 0 0 rg BT 142.00 695.10 Td (of ) Tj ET Q q 0 0 0 rg BT 152.74 695.10 Td (grant ) Tj ET Q q 0 0 0 rg BT 175.69 695.10 Td (and ) Tj ET Q q 0 0 0 rg BT 192.54 695.10 Td (the ) Tj ET Q q 0 0 0 rg BT 207.17 695.10 Td (remaining ) Tj ET Q q 0 0 0 rg BT 250.12 695.10 Td (options ) Tj ET Q q 0 0 0 rg BT 281.97 695.10 Td (shall ) Tj ET Q q 0 0 0 rg BT 303.27 695.10 Td (vest ) Tj ET Q q 0 0 0 rg BT 321.79 695.10 Td (monthly) Tj ET Q q 0 0 0 rg BT 354.47 695.10 Td (, ) Tj ET Q q 0 0 0 rg BT 359.38 695.10 Td (in ) Tj ET Q q 0 0 0 rg BT 369.57 695.10 Td (equal ) Tj ET Q q 0 0 0 rg BT 393.63 695.10 Td (increments ) Tj ET Q q 0 0 0 rg BT 439.91 695.10 Td (over ) Tj ET Q q 0 0 0 rg BT 460.09 695.10 Td (the ) Tj ET Q q 0 0 0 rg BT 474.72 695.10 Td (following ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.01 695.10 Td (three ) Tj ET Q q 0 0 0 rg BT 538.40 695.10 Td (years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.50 695.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 683.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.25 683.10 Td (term ) Tj ET Q q 0 0 0 rg BT 87.28 683.10 Td (of ) Tj ET Q q 0 0 0 rg BT 97.31 683.10 Td (the ) Tj ET Q q 0 0 0 rg BT 111.23 683.10 Td (options ) Tj ET Q q 0 0 0 rg BT 142.38 683.10 Td (is ) Tj ET Q q 0 0 0 rg BT 150.75 683.10 Td (up ) Tj ET Q q 0 0 0 rg BT 162.45 683.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.93 683.10 Td (ten ) Tj ET Q q 0 0 0 rg BT 185.85 683.10 Td (years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.95 683.10 Td (. ) Tj ET Q q 0 0 0 rg BT 211.15 683.10 Td ( ) Tj ET Q q 0 0 0 rg BT 212.73 683.10 Td (The ) Tj ET Q q 0 0 0 rg BT 229.97 683.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 270.56 683.10 Td (issues ) Tj ET Q q 0 0 0 rg BT 296.16 683.10 Td (new ) Tj ET Q q 0 0 0 rg BT 314.52 683.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 341.21 683.10 Td (to ) Tj ET Q q 0 0 0 rg BT 350.69 683.10 Td (the ) Tj ET Q q 0 0 0 rg BT 364.61 683.10 Td (optionee ) Tj ET Q q 0 0 0 rg BT 400.74 683.10 Td (for ) Tj ET Q q 0 0 0 rg BT 414.11 683.10 Td (any ) Tj ET Q q 0 0 0 rg BT 430.25 683.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 453.06 683.10 Td (awards ) Tj ET Q q 0 0 0 rg BT 483.08 683.10 Td (or ) Tj ET Q q 0 0 0 rg BT 493.11 683.10 Td (options ) Tj ET Q q 0 0 0 rg BT 524.26 683.10 Td (exercised ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 671.10 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 86.94 671.10 Td (to ) Tj ET Q q 0 0 0 rg BT 97.22 671.10 Td (its ) Tj ET Q q 0 0 0 rg BT 109.17 671.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 136.66 671.10 Td (incentive ) Tj ET Q q 0 0 0 rg BT 175.81 671.10 Td (plans.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 647.10 Td (A) Tj ET Q q 0 0 0 rg BT 56.67 647.10 Td ( summary of option activity under the 201) Tj ET Q q 0 0 0 rg BT 224.88 647.10 Td (1 Equity Incentive Plans for the year ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.38 647.10 Td (December31, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.96 647.10 Td ( and the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.12 647.10 Td (nine ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 635.10 Td (months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.45 635.10 Td ( ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.33 635.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.59 635.10 Td ( is presented below: ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 589.60 276.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.50 589.60 66.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.50 589.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.50 589.60 78.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 474.50 589.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 589.60 84.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 562.60 276.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.50 562.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.50 562.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.50 562.60 78.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 474.50 562.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 562.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 532.60 276.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.50 532.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.50 532.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.50 532.60 78.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 474.50 532.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 532.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 502.60 276.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.50 502.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.50 502.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.50 502.60 78.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 474.50 502.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 502.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 472.60 276.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.50 472.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.50 472.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.50 472.60 78.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 474.50 472.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 472.60 84.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 448.60 276.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.50 448.60 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.50 448.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.50 448.60 78.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 474.50 448.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.50 448.60 84.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 589.6 m 326.5 589.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 326.5 589.6 m 392.5 589.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 589.6 m 396.5 589.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 396.5 589.6 m 474.5 589.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 474.5 589.6 m 478.5 589.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 589.6 m 562.5 589.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 589.6 m 326.5 589.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 532.6 m 326.5 532.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326.5 532.6 m 392.5 532.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 532.6 m 396.5 532.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396.5 532.6 m 474.5 532.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474.5 532.6 m 478.5 532.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 532.6 m 562.5 532.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 472.6 m 326.5 472.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 458.6 m 326.5 458.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 456.6 m 326.5 456.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326.5 472.6 m 392.5 472.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326.5 458.6 m 392.5 458.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326.5 456.6 m 392.5 456.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 472.6 m 396.5 472.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 458.6 m 396.5 458.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 456.6 m 396.5 456.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396.5 472.6 m 474.5 472.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396.5 458.6 m 474.5 458.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396.5 456.6 m 474.5 456.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474.5 472.6 m 478.5 472.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474.5 458.6 m 478.5 458.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474.5 456.6 m 478.5 456.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 472.6 m 562.5 472.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 458.6 m 562.5 458.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 456.6 m 562.5 456.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 434.6 m 326.5 434.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 432.6 m 326.5 432.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326.5 434.6 m 392.5 434.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326.5 432.6 m 392.5 432.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 434.6 m 396.5 434.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 392.5 432.6 m 396.5 432.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396.5 434.6 m 474.5 434.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396.5 432.6 m 474.5 432.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474.5 434.6 m 478.5 434.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474.5 432.6 m 478.5 432.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 434.6 m 562.5 434.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.5 432.6 m 562.5 432.6 l s BT /F4 10.00 Tf ET q 0 0 0 rg BT 53.00 594.28 Td (Options Outstanding) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.35 604.27 Td (Common) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.65 594.27 Td (Shares) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.95 614.27 Td (W) Tj ET Q q 0 0 0 rg BT 424.59 614.27 Td (eighted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.40 604.27 Td (A) Tj ET Q q 0 0 0 rg BT 424.88 604.27 Td (verage) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.25 594.27 Td (Exercise Price) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.40 614.27 Td (W) Tj ET Q q 0 0 0 rg BT 492.04 614.27 Td (eighted ) Tj ET Q q 0 0 0 rg BT 523.42 614.27 Td (A) Tj ET Q q 0 0 0 rg BT 529.90 614.27 Td (verage) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.45 604.27 Td (Remaining Life) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.50 594.27 Td (\(Y) Tj ET Q q 0 0 0 rg BT 515.05 594.27 Td (ears\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 580.22 Td (Outstanding at December 31, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 580.22 Td (7,750,478) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.00 580.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.15 580.22 Td (0.51) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.50 580.22 Td (8.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 567.27 Td (Granted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 567.27 Td (4,358,831) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.00 567.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.15 567.27 Td (0.38) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 552.27 Td (Exercised) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.80 552.32 Td (\(1,250) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.65 552.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.00 552.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.15 552.27 Td (0.24) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 537.27 Td (Forfeited) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.80 537.32 Td (\(194,285) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.65 537.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.00 537.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.15 537.27 Td (0.85) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 522.27 Td (Outstanding at December 31, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.60 522.27 Td (11,913,774) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.00 522.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.15 522.27 Td (0.46) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.50 522.27 Td (6.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 507.27 Td (Granted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 507.27 Td (3,751,022) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.00 507.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.15 507.27 Td (0.36) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 492.27 Td (Exercised) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.65 492.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.00 492.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.65 492.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 477.27 Td (Forfeited) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.80 477.32 Td (\(787,063) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.65 477.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.00 477.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.15 477.27 Td (0.35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 462.27 Td (Outstanding at September 30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.60 462.27 Td (14,877,733) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.00 462.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.15 462.27 Td (0.44) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.50 462.27 Td (6.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 438.27 Td (Exercisable at September 30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 438.27 Td (6,614,375) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.00 438.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.15 438.27 Td (0.53) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.50 438.27 Td (6.3) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 410.10 Td (During ) Tj ET Q q 0 0 0 rg BT 82.25 410.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.38 410.10 Td (three ) Tj ET Q q 0 0 0 rg BT 122.28 410.10 Td (and ) Tj ET Q q 0 0 0 rg BT 140.63 410.10 Td (nine ) Tj ET Q q 0 0 0 rg BT 161.77 410.10 Td (months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.21 410.10 Td ( ) Tj ET Q q 0 0 0 rg BT 195.13 410.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.92 410.10 Td (September30, ) Tj ET Q q 0 0 0 rg BT 284.60 410.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.60 410.10 Td (, ) Tj ET Q q 0 0 0 rg BT 311.02 410.10 Td (no ) Tj ET Q q 0 0 0 rg BT 324.93 410.10 Td (options ) Tj ET Q q 0 0 0 rg BT 358.30 410.10 Td (were ) Tj ET Q q 0 0 0 rg BT 381.64 410.10 Td (exercised. ) Tj ET Q q 0 0 0 rg BT 425.81 410.10 Td (During ) Tj ET Q q 0 0 0 rg BT 458.05 410.10 Td (the ) Tj ET Q q 0 0 0 rg BT 474.19 410.10 Td (twelve ) Tj ET Q q 0 0 0 rg BT 504.76 410.10 Td (months ) Tj ET Q q 0 0 0 rg BT 538.12 410.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 398.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 108.77 398.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.77 398.10 Td (, ) Tj ET Q q 0 0 0 rg BT 133.96 398.10 Td ( ) Tj ET Q q 0 0 0 rg BT 136.65 398.10 Td (options ) Tj ET Q q 0 0 0 rg BT 168.78 398.10 Td (were ) Tj ET Q q 0 0 0 rg BT 190.90 398.10 Td (exercised ) Tj ET Q q 0 0 0 rg BT 231.34 398.10 Td (into ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.58 398.10 Td (1,250) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.08 398.10 Td ( ) Tj ET Q q 0 0 0 rg BT 274.77 398.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 302.44 398.10 Td (of ) Tj ET Q q 0 0 0 rg BT 313.46 398.10 Td (common ) Tj ET Q q 0 0 0 rg BT 351.14 398.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 374.94 398.10 Td (for ) Tj ET Q q 0 0 0 rg BT 389.29 398.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 409.74 398.10 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 447.97 398.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.98 398.10 Td ($300) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.98 398.10 Td (. ) Tj ET Q q 0 0 0 rg BT 484.17 398.10 Td ( ) Tj ET Q q 0 0 0 rg BT 486.66 398.10 Td (The ) Tj ET Q q 0 0 0 rg BT 504.90 398.10 Td (intrinsic ) Tj ET Q q 0 0 0 rg BT 540.36 398.10 Td (value ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 386.10 Td (of ) Tj ET Q q 0 0 0 rg BT 61.31 386.10 Td (these ) Tj ET Q q 0 0 0 rg BT 84.83 386.10 Td (options ) Tj ET Q q 0 0 0 rg BT 117.25 386.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.78 386.10 Td ($295) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 155.78 386.10 Td (. ) Tj ET Q q 0 0 0 rg BT 161.04 386.10 Td (There ) Tj ET Q q 0 0 0 rg BT 187.33 386.10 Td (is ) Tj ET Q q 0 0 0 rg BT 196.97 386.10 Td (no ) Tj ET Q q 0 0 0 rg BT 209.95 386.10 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 251.79 386.10 Td (intrinsic ) Tj ET Q q 0 0 0 rg BT 287.53 386.10 Td (value ) Tj ET Q q 0 0 0 rg BT 312.16 386.10 Td (on ) Tj ET Q q 0 0 0 rg BT 325.14 386.10 Td (the ) Tj ET Q q 0 0 0 rg BT 340.33 386.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 389.97 386.10 Td (or ) Tj ET Q q 0 0 0 rg BT 401.28 386.10 Td (exercisable ) Tj ET Q q 0 0 0 rg BT 449.22 386.10 Td (options ) Tj ET Q q 0 0 0 rg BT 481.65 386.10 Td (as ) Tj ET Q q 0 0 0 rg BT 492.95 386.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.26 386.10 Td (September30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 374.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 374.10 Td ( ) Tj ET Q q 0 0 0 rg BT 72.50 374.10 Td (since ) Tj ET Q q 0 0 0 rg BT 95.55 374.10 Td (the ) Tj ET Q q 0 0 0 rg BT 110.26 374.10 Td (weighted ) Tj ET Q q 0 0 0 rg BT 149.42 374.10 Td (average ) Tj ET Q q 0 0 0 rg BT 183.00 374.10 Td (exercise ) Tj ET Q q 0 0 0 rg BT 218.26 374.10 Td (price ) Tj ET Q q 0 0 0 rg BT 240.74 374.10 Td (per ) Tj ET Q q 0 0 0 rg BT 256.01 374.10 Td (share ) Tj ET Q q 0 0 0 rg BT 279.61 374.10 Td (exceeded ) Tj ET Q q 0 0 0 rg BT 319.30 374.10 Td (the ) Tj ET Q q 0 0 0 rg BT 334.02 374.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 350.40 374.10 Td (value ) Tj ET Q q 0 0 0 rg BT 374.55 374.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.38 374.10 Td ($0.42) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.88 374.10 Td ( ) Tj ET Q q 0 0 0 rg BT 410.38 374.10 Td (on ) Tj ET Q q 0 0 0 rg BT 422.88 374.10 Td (such ) Tj ET Q q 0 0 0 rg BT 443.71 374.10 Td (date. ) Tj ET Q q 0 0 0 rg BT 465.37 374.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 350.10 Td (A) Tj ET Q q 0 0 0 rg BT 56.67 350.10 Td ( ) Tj ET Q q 0 0 0 rg BT 59.26 350.10 Td (summary ) Tj ET Q q 0 0 0 rg BT 99.06 350.10 Td (of ) Tj ET Q q 0 0 0 rg BT 109.98 350.10 Td (the ) Tj ET Q q 0 0 0 rg BT 124.79 350.10 Td (nonvested ) Tj ET Q q 0 0 0 rg BT 167.92 350.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 191.62 350.10 Td (option ) Tj ET Q q 0 0 0 rg BT 219.76 350.10 Td (activity ) Tj ET Q q 0 0 0 rg BT 252.34 350.10 Td (under ) Tj ET Q q 0 0 0 rg BT 277.70 350.10 Td (the ) Tj ET Q q 0 0 0 rg BT 292.50 350.10 Td (201) Tj ET Q q 0 0 0 rg BT 307.13 350.10 Td (1 ) Tj ET Q q 0 0 0 rg BT 314.72 350.10 Td (Equity ) Tj ET Q q 0 0 0 rg BT 343.97 350.10 Td (Incentive ) Tj ET Q q 0 0 0 rg BT 383.76 350.10 Td (Plans ) Tj ET Q q 0 0 0 rg BT 408.02 350.10 Td (for ) Tj ET Q q 0 0 0 rg BT 422.27 350.10 Td (the ) Tj ET Q q 0 0 0 rg BT 437.07 350.10 Td (year ) Tj ET Q q 0 0 0 rg BT 456.87 350.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.33 350.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 542.00 350.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 562.00 350.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 338.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.94 338.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.66 338.10 Td (nine ) Tj ET Q q 0 0 0 rg BT 101.37 338.10 Td (months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.82 338.10 Td ( ) Tj ET Q q 0 0 0 rg BT 133.32 338.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.70 338.10 Td (September30, ) Tj ET Q q 0 0 0 rg BT 219.96 338.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.96 338.10 Td ( ) Tj ET Q q 0 0 0 rg BT 242.46 338.10 Td (is ) Tj ET Q q 0 0 0 rg BT 251.63 338.10 Td (presented ) Tj ET Q q 0 0 0 rg BT 292.45 338.10 Td (below:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 284.60 294.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.50 284.60 58.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.50 284.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 284.60 76.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 284.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 284.60 76.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 260.60 294.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.50 260.60 58.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.50 260.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 260.60 76.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 260.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 260.60 76.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 236.60 294.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.50 236.60 58.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.50 236.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 236.60 76.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 236.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 236.60 76.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 212.60 294.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.50 212.60 58.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.50 212.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 212.60 76.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 212.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 212.60 76.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 188.60 294.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.50 188.60 58.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.50 188.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.50 188.60 76.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 188.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 188.60 76.00 -12.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 284.6 m 344.5 284.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 284.6 m 344.5 284.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 284.6 m 402.5 284.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 402.5 284.6 m 406.5 284.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 284.6 m 482.5 284.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 284.6 m 486.5 284.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 284.6 m 562.5 284.6 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 236.60000000000002 m 344.5 236.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 236.60000000000002 m 402.5 236.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 402.5 236.60000000000002 m 406.5 236.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 236.60000000000002 m 482.5 236.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 236.60000000000002 m 486.5 236.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 236.60000000000002 m 562.5 236.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 188.60000000000002 m 344.5 188.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 188.60000000000002 m 482.5 188.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 177.60000000000002 m 344.5 177.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 175.60000000000002 m 344.5 175.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 188.60000000000002 m 402.5 188.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 177.60000000000002 m 402.5 177.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 175.60000000000002 m 402.5 175.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 402.5 188.60000000000002 m 406.5 188.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.5 177.60000000000002 m 406.5 177.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.5 175.60000000000002 m 406.5 175.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 177.60000000000002 m 482.5 177.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406.5 175.60000000000002 m 482.5 175.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 188.60000000000002 m 486.5 188.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 177.60000000000002 m 486.5 177.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.5 175.60000000000002 m 486.5 175.60000000000002 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 188.60000000000002 m 562.5 188.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 177.60000000000002 m 562.5 177.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 175.60000000000002 m 562.5 175.60000000000002 l s BT /F4 10.00 Tf ET q 0 0 0 rg BT 53.00 289.28 Td (Nonvested Options) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.35 299.27 Td (Common) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.65 289.27 Td (Shares) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.95 318.17 Td (W) Tj ET Q q 0 0 0 rg BT 433.59 318.17 Td (eighted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.40 308.17 Td (A) Tj ET Q q 0 0 0 rg BT 433.88 308.17 Td (verage) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.90 298.17 Td (Grant Date) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.40 288.17 Td (Fair ) Tj ET Q q 0 0 0 rg BT 441.83 288.17 Td (V) Tj ET Q q 0 0 0 rg BT 447.94 288.17 Td (alue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.95 318.17 Td (W) Tj ET Q q 0 0 0 rg BT 513.59 318.17 Td (eighted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.40 308.17 Td (A) Tj ET Q q 0 0 0 rg BT 513.88 308.17 Td (verage) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.80 298.17 Td (Remaining ) Tj ET Q q 0 0 0 rg BT 535.81 298.17 Td (Y) Tj ET Q q 0 0 0 rg BT 542.03 298.17 Td (ears) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.30 288.17 Td (to ) Tj ET Q q 0 0 0 rg BT 520.40 288.17 Td (V) Tj ET Q q 0 0 0 rg BT 526.51 288.17 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 275.22 Td (Nonvested at December 31, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.60 275.22 Td (5,809,363) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.00 275.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 275.22 Td (0.24) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.50 275.22 Td (3.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 263.22 Td (Granted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.60 263.22 Td (4,358,831) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 263.22 Td (0.38) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 251.22 Td (Vested) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.30 251.22 Td (\(2,566,848) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.65 251.22 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 251.22 Td (0.23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 239.22 Td (Forfeited) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.80 239.22 Td (\(159,508) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.65 239.22 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 239.22 Td (0.21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 227.22 Td (Nonvested at December 31, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.60 227.22 Td (7,441,838) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.00 227.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 227.22 Td (0.20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.50 227.22 Td (3.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 215.22 Td (Granted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.60 215.22 Td (3,751,022) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 215.22 Td (0.19) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 203.22 Td (Vested) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.30 203.22 Td (\(2,164,147) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.65 203.22 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 203.22 Td (0.22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 191.22 Td (Forfeited) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.80 191.22 Td (\(765,355) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.65 191.22 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 191.22 Td (0.17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 179.22 Td (Nonvested at September 30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.60 179.22 Td (8,263,358) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.00 179.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 179.22 Td (0.19) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.50 179.22 Td (2.8) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 153.10 Td (Stock-based ) Tj ET Q q 0 0 0 rg BT 101.70 153.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 160.07 153.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 179.00 153.10 Td (related ) Tj ET Q q 0 0 0 rg BT 209.03 153.10 Td (to ) Tj ET Q q 0 0 0 rg BT 219.63 153.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 243.56 153.10 Td (options ) Tj ET Q q 0 0 0 rg BT 275.84 153.10 Td (granted ) Tj ET Q q 0 0 0 rg BT 308.65 153.10 Td (under ) Tj ET Q q 0 0 0 rg BT 334.24 153.10 Td (the ) Tj ET Q q 0 0 0 rg BT 349.28 153.10 Td (201) Tj ET Q q 0 0 0 rg BT 363.91 153.10 Td (1 ) Tj ET Q q 0 0 0 rg BT 371.74 153.10 Td (Equity ) Tj ET Q q 0 0 0 rg BT 401.23 153.10 Td (Incentive ) Tj ET Q q 0 0 0 rg BT 441.25 153.10 Td (Plans ) Tj ET Q q 0 0 0 rg BT 465.75 153.10 Td (is ) Tj ET Q q 0 0 0 rg BT 475.24 153.10 Td (measured ) Tj ET Q q 0 0 0 rg BT 516.38 153.10 Td (at ) Tj ET Q q 0 0 0 rg BT 526.42 153.10 Td (the ) Tj ET Q q 0 0 0 rg BT 541.46 153.10 Td (grant ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 141.10 Td (date, ) Tj ET Q q 0 0 0 rg BT 72.26 141.10 Td (based ) Tj ET Q q 0 0 0 rg BT 98.13 141.10 Td (on ) Tj ET Q q 0 0 0 rg BT 111.23 141.10 Td (the ) Tj ET Q q 0 0 0 rg BT 126.55 141.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 143.53 141.10 Td (value ) Tj ET Q q 0 0 0 rg BT 168.29 141.10 Td (of ) Tj ET Q q 0 0 0 rg BT 179.72 141.10 Td (the ) Tj ET Q q 0 0 0 rg BT 195.04 141.10 Td (award, ) Tj ET Q q 0 0 0 rg BT 225.08 141.10 Td (and ) Tj ET Q q 0 0 0 rg BT 242.62 141.10 Td (is ) Tj ET Q q 0 0 0 rg BT 252.39 141.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 299.36 141.10 Td (as ) Tj ET Q q 0 0 0 rg BT 310.79 141.10 Td (an ) Tj ET Q q 0 0 0 rg BT 323.33 141.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 358.64 141.10 Td (over ) Tj ET Q q 0 0 0 rg BT 379.51 141.10 Td (the ) Tj ET Q q 0 0 0 rg BT 394.83 141.10 Td (employee) Tj ET Q q 0 0 0 rg BT 436.48 141.10 Td (s ) Tj ET Q q 0 0 0 rg BT 443.48 141.10 Td (requisite ) Tj ET Q q 0 0 0 rg BT 481.01 141.10 Td (service ) Tj ET Q q 0 0 0 rg BT 512.43 141.10 Td (period. ) Tj ET Q q 0 0 0 rg BT 543.58 141.10 Td ( ) Tj ET Q q 0 0 0 rg BT 546.46 141.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 129.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 91.16 129.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 130.65 129.10 Td (the ) Tj ET Q q 0 0 0 rg BT 145.14 129.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 161.29 129.10 Td (value ) Tj ET Q q 0 0 0 rg BT 185.22 129.10 Td (of ) Tj ET Q q 0 0 0 rg BT 195.82 129.10 Td (each ) Tj ET Q q 0 0 0 rg BT 216.41 129.10 Td (option ) Tj ET Q q 0 0 0 rg BT 244.25 129.10 Td (award ) Tj ET Q q 0 0 0 rg BT 270.95 129.10 Td (on ) Tj ET Q q 0 0 0 rg BT 283.22 129.10 Td (the ) Tj ET Q q 0 0 0 rg BT 297.71 129.10 Td (date ) Tj ET Q q 0 0 0 rg BT 316.64 129.10 Td (of ) Tj ET Q q 0 0 0 rg BT 327.25 129.10 Td (grant ) Tj ET Q q 0 0 0 rg BT 350.07 129.10 Td (using ) Tj ET Q q 0 0 0 rg BT 374.01 129.10 Td (a ) Tj ET Q q 0 0 0 rg BT 380.73 129.10 Td (Black-Scholes ) Tj ET Q q 0 0 0 rg BT 440.76 129.10 Td (option-pricing ) Tj ET Q q 0 0 0 rg BT 500.25 129.10 Td (model ) Tj ET Q q 0 0 0 rg BT 527.52 129.10 Td (that ) Tj ET Q q 0 0 0 rg BT 544.79 129.10 Td (uses ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 117.10 Td (the ) Tj ET Q q 0 0 0 rg BT 65.34 117.10 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 117.92 117.10 Td (stated ) Tj ET Q q 0 0 0 rg BT 144.37 117.10 Td (in ) Tj ET Q q 0 0 0 rg BT 155.27 117.10 Td (Note ) Tj ET Q q 0 0 0 rg BT 177.83 117.10 Td (1. ) Tj ET Q q 0 0 0 rg BT 188.23 117.10 Td (T) Tj ET Q q 0 0 0 rg BT 193.64 117.10 Td (otal ) Tj ET Q q 0 0 0 rg BT 211.76 117.10 Td (stock-based ) Tj ET Q q 0 0 0 rg BT 262.09 117.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 320.76 117.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 356.09 117.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 403.08 117.10 Td (on ) Tj ET Q q 0 0 0 rg BT 416.21 117.10 Td (awards ) Tj ET Q q 0 0 0 rg BT 447.65 117.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 497.44 117.10 Td (during ) Tj ET Q q 0 0 0 rg BT 526.67 117.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.02 117.10 Td (three ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 105.10 Td (months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.45 105.10 Td ( ) Tj ET Q q 0 0 0 rg BT 81.69 105.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 107.81 105.10 Td (September30, ) Tj ET Q q 0 0 0 rg BT 167.81 105.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 187.81 105.10 Td ( ) Tj ET Q q 0 0 0 rg BT 190.05 105.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.73 105.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.73 105.10 Td ( ) Tj ET Q q 0 0 0 rg BT 228.97 105.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.77 105.10 Td ($188,458) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.27 105.10 Td ( ) Tj ET Q q 0 0 0 rg BT 286.51 105.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.19 105.10 Td ($142,252) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.69 105.10 Td (, ) Tj ET Q q 0 0 0 rg BT 345.43 105.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 393.09 105.10 Td (. ) Tj ET Q q 0 0 0 rg BT 397.83 105.10 Td ( ) Tj ET Q q 0 0 0 rg BT 399.91 105.10 Td (T) Tj ET Q q 0 0 0 rg BT 405.32 105.10 Td (otal ) Tj ET Q q 0 0 0 rg BT 422.56 105.10 Td (stock-based ) Tj ET Q q 0 0 0 rg BT 472.01 105.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 529.79 105.10 Td (expense ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 93.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 97.30 93.10 Td (on ) Tj ET Q q 0 0 0 rg BT 110.73 93.10 Td (awards ) Tj ET Q q 0 0 0 rg BT 142.49 93.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 192.59 93.10 Td (during ) Tj ET Q q 0 0 0 rg BT 222.13 93.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.78 93.10 Td (nine ) Tj ET Q q 0 0 0 rg BT 258.44 93.10 Td (months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.88 93.10 Td ( ) Tj ET Q q 0 0 0 rg BT 291.32 93.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.63 93.10 Td (September30, ) Tj ET Q q 0 0 0 rg BT 379.83 93.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.83 93.10 Td ( ) Tj ET Q q 0 0 0 rg BT 403.26 93.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.14 93.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.14 93.10 Td ( ) Tj ET Q q 0 0 0 rg BT 444.57 93.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.56 93.10 Td ($51) Tj ET Q q 0 0 0 rg BT 478.19 93.10 Td (1,202) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.69 93.10 Td ( ) Tj ET Q q 0 0 0 rg BT 504.12 93.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.00 93.10 Td ($389,002) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.50 93.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 81.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 97.66 81.10 Td (. ) Tj ET Q q 0 0 0 rg BT 101.56 81.10 Td ( ) Tj ET Q q 0 0 0 rg BT 102.96 81.10 Td (Stock-based ) Tj ET Q q 0 0 0 rg BT 153.24 81.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 210.18 81.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 243.79 81.10 Td (is ) Tj ET Q q 0 0 0 rg BT 251.86 81.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 288.24 81.10 Td (as ) Tj ET Q q 0 0 0 rg BT 297.97 81.10 Td (a ) Tj ET Q q 0 0 0 rg BT 303.80 81.10 Td (general ) Tj ET Q q 0 0 0 rg BT 334.63 81.10 Td (and ) Tj ET Q q 0 0 0 rg BT 350.47 81.10 Td (administrative ) Tj ET Q q 0 0 0 rg BT 409.08 81.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 442.68 81.10 Td (in ) Tj ET Q q 0 0 0 rg BT 451.86 81.10 Td (the ) Tj ET Q q 0 0 0 rg BT 465.48 81.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 511.46 81.10 Td (consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 69.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 95.37 69.10 Td (of ) Tj ET Q q 0 0 0 rg BT 106.86 69.10 Td (operations. ) Tj ET Q q 0 0 0 rg BT 154.17 69.10 Td ( ) Tj ET Q q 0 0 0 rg BT 157.33 69.10 Td (Future ) Tj ET Q q 0 0 0 rg BT 186.60 69.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 245.30 69.10 Td (related ) Tj ET Q q 0 0 0 rg BT 275.66 69.10 Td (to ) Tj ET Q q 0 0 0 rg BT 286.59 69.10 Td (nonvested ) Tj ET Q q 0 0 0 rg BT 330.30 69.10 Td (awards ) Tj ET Q q 0 0 0 rg BT 361.78 69.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 400.47 69.10 Td (to ) Tj ET Q q 0 0 0 rg BT 411.40 69.10 Td (vest ) Tj ET Q q 0 0 0 rg BT 430.67 69.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.16 69.10 Td ($1,400,936) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.16 69.10 Td ( ) Tj ET Q q 0 0 0 rg BT 490.32 69.10 Td (is ) Tj ET Q q 0 0 0 rg BT 500.15 69.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 541.62 69.10 Td (to ) Tj ET Q q 0 0 0 rg BT 552.56 69.10 Td (be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 57.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 96.36 57.10 Td (over ) Tj ET Q q 0 0 0 rg BT 116.63 57.10 Td (the ) Tj ET Q q 0 0 0 rg BT 131.35 57.10 Td (weighted-average ) Tj ET Q q 0 0 0 rg BT 204.92 57.10 Td (vesting ) Tj ET Q q 0 0 0 rg BT 236.30 57.10 Td (period ) Tj ET Q q 0 0 0 rg BT 264.35 57.10 Td (of ) Tj ET Q q 0 0 0 rg BT 275.18 57.10 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.44 57.10 Td (three ) Tj ET Q q 0 0 0 rg BT 357.92 57.10 Td (years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.02 57.10 Td (.) Tj ET Q endstream endobj 41 0 obj <> endobj 42 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 283.05 772.75 Td (IZEA, Inc.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 181.55 760.75 Td (Notes to the Unaudited Consolidated Financial Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (18) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 50 729.68505859375 m 182.314453125 729.68505859375 l s q 0 0 0 rg BT 50.00 731.25 Td (Employee ) Tj ET Q q 0 0 0 rg BT 94.72 731.25 Td (Stock ) Tj ET Q q 0 0 0 rg BT 121.11 731.25 Td (Pur) Tj ET Q q 0 0 0 rg BT 137.04 731.25 Td (chase ) Tj ET Q q 0 0 0 rg BT 162.87 731.25 Td (Plan) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 719.25 Td (On ) Tj ET Q q 0 0 0 rg BT 65.29 719.25 Td (April ) Tj ET Q q 0 0 0 rg BT 90.34 719.25 Td (16, ) Tj ET Q q 0 0 0 rg BT 106.78 719.25 Td (2014, ) Tj ET Q q 0 0 0 rg BT 133.22 719.25 Td (stockholders ) Tj ET Q q 0 0 0 rg BT 187.70 719.25 Td (holding ) Tj ET Q q 0 0 0 rg BT 222.20 719.25 Td (a ) Tj ET Q q 0 0 0 rg BT 230.58 719.25 Td (majority ) Tj ET Q q 0 0 0 rg BT 268.40 719.25 Td (of ) Tj ET Q q 0 0 0 rg BT 280.67 719.25 Td (the ) Tj ET Q q 0 0 0 rg BT 296.82 719.25 Td (Company's ) Tj ET Q q 0 0 0 rg BT 345.34 719.25 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 395.94 719.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 424.87 719.25 Td (of ) Tj ET Q q 0 0 0 rg BT 437.14 719.25 Td (common ) Tj ET Q q 0 0 0 rg BT 476.08 719.25 Td (stock, ) Tj ET Q q 0 0 0 rg BT 503.62 719.25 Td (upon ) Tj ET Q q 0 0 0 rg BT 527.56 719.25 Td (previous ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 707.25 Td (recommendation ) Tj ET Q q 0 0 0 rg BT 118.88 707.25 Td (and ) Tj ET Q q 0 0 0 rg BT 134.99 707.25 Td (approval ) Tj ET Q q 0 0 0 rg BT 171.66 707.25 Td (of ) Tj ET Q q 0 0 0 rg BT 181.67 707.25 Td (the ) Tj ET Q q 0 0 0 rg BT 195.56 707.25 Td (Board ) Tj ET Q q 0 0 0 rg BT 221.68 707.25 Td (of ) Tj ET Q q 0 0 0 rg BT 231.69 707.25 Td (Directors, ) Tj ET Q q 0 0 0 rg BT 273.07 707.25 Td (adopted ) Tj ET Q q 0 0 0 rg BT 306.41 707.25 Td (the ) Tj ET Q q 0 0 0 rg BT 320.30 707.25 Td (IZEA, ) Tj ET Q q 0 0 0 rg BT 347.25 707.25 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 364.20 707.25 Td (2014 ) Tj ET Q q 0 0 0 rg BT 385.88 707.25 Td (Employee ) Tj ET Q q 0 0 0 rg BT 428.10 707.25 Td (Stock ) Tj ET Q q 0 0 0 rg BT 452.55 707.25 Td (Purchase ) Tj ET Q q 0 0 0 rg BT 490.33 707.25 Td (Plan ) Tj ET Q q 0 0 0 rg BT 509.79 707.25 Td (\(the ) Tj ET Q q 0 0 0 rg BT 527.01 707.25 Td (ESPP\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 695.25 Td (and ) Tj ET Q q 0 0 0 rg BT 67.16 695.25 Td (reserved ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.74 695.25 Td (1,500,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.74 695.25 Td ( ) Tj ET Q q 0 0 0 rg BT 146.46 695.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 174.17 695.25 Td (of ) Tj ET Q q 0 0 0 rg BT 185.22 695.25 Td (the ) Tj ET Q q 0 0 0 rg BT 200.16 695.25 Td (Company's ) Tj ET Q q 0 0 0 rg BT 247.45 695.25 Td (common ) Tj ET Q q 0 0 0 rg BT 285.17 695.25 Td (stock ) Tj ET Q q 0 0 0 rg BT 309.00 695.25 Td (for ) Tj ET Q q 0 0 0 rg BT 323.37 695.25 Td (issuance ) Tj ET Q q 0 0 0 rg BT 359.97 695.25 Td (thereunder) Tj ET Q q 0 0 0 rg BT 402.17 695.25 Td (. ) Tj ET Q q 0 0 0 rg BT 407.39 695.25 Td ( ) Tj ET Q q 0 0 0 rg BT 409.51 695.25 Td (Any ) Tj ET Q q 0 0 0 rg BT 429.45 695.25 Td (employee ) Tj ET Q q 0 0 0 rg BT 471.04 695.25 Td (regularly ) Tj ET Q q 0 0 0 rg BT 509.85 695.25 Td (employed ) Tj ET Q q 0 0 0 rg BT 552.01 695.25 Td (by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 683.25 Td (our ) Tj ET Q q 0 0 0 rg BT 65.94 683.25 Td (company ) Tj ET Q q 0 0 0 rg BT 105.21 683.25 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 119.49 683.25 Td (90 ) Tj ET Q q 0 0 0 rg BT 132.10 683.25 Td (days) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.43 683.25 Td ( ) Tj ET Q q 0 0 0 rg BT 153.04 683.25 Td (or ) Tj ET Q q 0 0 0 rg BT 163.99 683.25 Td (more ) Tj ET Q q 0 0 0 rg BT 187.15 683.25 Td (on ) Tj ET Q q 0 0 0 rg BT 199.76 683.25 Td (a ) Tj ET Q q 0 0 0 rg BT 206.81 683.25 Td (full-time ) Tj ET Q q 0 0 0 rg BT 244.42 683.25 Td (or ) Tj ET Q q 0 0 0 rg BT 255.36 683.25 Td (part-time ) Tj ET Q q 0 0 0 rg BT 294.63 683.25 Td (basis ) Tj ET Q q 0 0 0 rg BT 317.24 683.25 Td (\() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.57 683.25 Td (20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.57 683.25 Td ( ) Tj ET Q q 0 0 0 rg BT 333.18 683.25 Td (hours ) Tj ET Q q 0 0 0 rg BT 358.02 683.25 Td (or ) Tj ET Q q 0 0 0 rg BT 368.96 683.25 Td (more ) Tj ET Q q 0 0 0 rg BT 392.12 683.25 Td (per ) Tj ET Q q 0 0 0 rg BT 407.51 683.25 Td (week ) Tj ET Q q 0 0 0 rg BT 431.22 683.25 Td (on ) Tj ET Q q 0 0 0 rg BT 443.83 683.25 Td (a ) Tj ET Q q 0 0 0 rg BT 450.89 683.25 Td (regular ) Tj ET Q q 0 0 0 rg BT 481.81 683.25 Td (schedule\) ) Tj ET Q q 0 0 0 rg BT 522.74 683.25 Td (is ) Tj ET Q q 0 0 0 rg BT 532.03 683.25 Td (eligible ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 671.25 Td (to ) Tj ET Q q 0 0 0 rg BT 60.80 671.25 Td (participate ) Tj ET Q q 0 0 0 rg BT 106.01 671.25 Td (in ) Tj ET Q q 0 0 0 rg BT 116.81 671.25 Td (the ) Tj ET Q q 0 0 0 rg BT 132.05 671.25 Td (ESPP) Tj ET Q q 0 0 0 rg BT 153.73 671.25 Td (. ) Tj ET Q q 0 0 0 rg BT 159.25 671.25 Td ( ) Tj ET Q q 0 0 0 rg BT 162.05 671.25 Td (The ) Tj ET Q q 0 0 0 rg BT 180.62 671.25 Td (ESPP) Tj ET Q q 0 0 0 rg BT 203.04 671.25 Td ( ) Tj ET Q q 0 0 0 rg BT 206.06 671.25 Td (operates ) Tj ET Q q 0 0 0 rg BT 242.39 671.25 Td (in ) Tj ET Q q 0 0 0 rg BT 253.19 671.25 Td (successive ) Tj ET Q q 0 0 0 rg BT 298.42 671.25 Td (six ) Tj ET Q q 0 0 0 rg BT 313.10 671.25 Td (month ) Tj ET Q q 0 0 0 rg BT 341.68 671.25 Td (of) Tj ET Q q 0 0 0 rg BT 349.83 671.25 Td (fering ) Tj ET Q q 0 0 0 rg BT 376.73 671.25 Td (periods ) Tj ET Q q 0 0 0 rg BT 409.18 671.25 Td (commencing ) Tj ET Q q 0 0 0 rg BT 463.85 671.25 Td (at ) Tj ET Q q 0 0 0 rg BT 474.09 671.25 Td (the ) Tj ET Q q 0 0 0 rg BT 489.32 671.25 Td (beginning ) Tj ET Q q 0 0 0 rg BT 532.34 671.25 Td (of ) Tj ET Q q 0 0 0 rg BT 543.69 671.25 Td (each ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 659.25 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 74.25 659.25 Td (year ) Tj ET Q q 0 0 0 rg BT 94.06 659.25 Td (half. ) Tj ET Q q 0 0 0 rg BT 114.70 659.25 Td (Each ) Tj ET Q q 0 0 0 rg BT 137.28 659.25 Td (eligible ) Tj ET Q q 0 0 0 rg BT 169.87 659.25 Td (employee ) Tj ET Q q 0 0 0 rg BT 211.34 659.25 Td (who ) Tj ET Q q 0 0 0 rg BT 231.16 659.25 Td (has ) Tj ET Q q 0 0 0 rg BT 247.08 659.25 Td (elected ) Tj ET Q q 0 0 0 rg BT 277.99 659.25 Td (to ) Tj ET Q q 0 0 0 rg BT 288.36 659.25 Td (participate ) Tj ET Q q 0 0 0 rg BT 333.16 659.25 Td (may ) Tj ET Q q 0 0 0 rg BT 352.97 659.25 Td (purchase ) Tj ET Q q 0 0 0 rg BT 391.11 659.25 Td (up ) Tj ET Q q 0 0 0 rg BT 403.70 659.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.08 659.25 Td (10%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.41 659.25 Td ( ) Tj ET Q q 0 0 0 rg BT 435.00 659.25 Td (of ) Tj ET Q q 0 0 0 rg BT 445.93 659.25 Td (their ) Tj ET Q q 0 0 0 rg BT 466.85 659.25 Td (annual ) Tj ET Q q 0 0 0 rg BT 496.10 659.25 Td (compensation ) Tj ET Q q 0 0 0 rg BT 554.24 659.25 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 647.25 Td (common ) Tj ET Q q 0 0 0 rg BT 87.65 647.25 Td (stock ) Tj ET Q q 0 0 0 rg BT 111.41 647.25 Td (not ) Tj ET Q q 0 0 0 rg BT 126.84 647.25 Td (to ) Tj ET Q q 0 0 0 rg BT 137.27 647.25 Td (exceed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.68 647.25 Td ($21,250) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.18 647.25 Td ( ) Tj ET Q q 0 0 0 rg BT 202.83 647.25 Td (annually ) Tj ET Q q 0 0 0 rg BT 239.92 647.25 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.90 647.25 Td (20,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.40 647.25 Td ( ) Tj ET Q q 0 0 0 rg BT 281.05 647.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 308.70 647.25 Td (per ) Tj ET Q q 0 0 0 rg BT 324.12 647.25 Td (of) Tj ET Q q 0 0 0 rg BT 332.27 647.25 Td (fering ) Tj ET Q q 0 0 0 rg BT 358.80 647.25 Td (period. ) Tj ET Q q 0 0 0 rg BT 389.50 647.25 Td ( ) Tj ET Q q 0 0 0 rg BT 391.96 647.25 Td (The ) Tj ET Q q 0 0 0 rg BT 410.16 647.25 Td (purchase ) Tj ET Q q 0 0 0 rg BT 448.35 647.25 Td (price ) Tj ET Q q 0 0 0 rg BT 470.99 647.25 Td (will ) Tj ET Q q 0 0 0 rg BT 489.19 647.25 Td (be ) Tj ET Q q 0 0 0 rg BT 501.29 647.25 Td (the ) Tj ET Q q 0 0 0 rg BT 516.16 647.25 Td (lower ) Tj ET Q q 0 0 0 rg BT 541.58 647.25 Td (of ) Tj ET Q q 0 0 0 rg BT 552.56 647.25 Td (\(i\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 635.25 Td (85%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.33 635.25 Td ( ) Tj ET Q q 0 0 0 rg BT 71.37 635.25 Td (of ) Tj ET Q q 0 0 0 rg BT 82.74 635.25 Td (the ) Tj ET Q q 0 0 0 rg BT 98.00 635.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 114.91 635.25 Td (market ) Tj ET Q q 0 0 0 rg BT 145.72 635.25 Td (value ) Tj ET Q q 0 0 0 rg BT 170.41 635.25 Td (of ) Tj ET Q q 0 0 0 rg BT 181.78 635.25 Td (a ) Tj ET Q q 0 0 0 rg BT 189.26 635.25 Td (share ) Tj ET Q q 0 0 0 rg BT 213.40 635.25 Td (of ) Tj ET Q q 0 0 0 rg BT 224.77 635.25 Td (common ) Tj ET Q q 0 0 0 rg BT 262.80 635.25 Td (stock ) Tj ET Q q 0 0 0 rg BT 286.95 635.25 Td (on ) Tj ET Q q 0 0 0 rg BT 299.99 635.25 Td (the ) Tj ET Q q 0 0 0 rg BT 315.24 635.25 Td (first ) Tj ET Q q 0 0 0 rg BT 334.39 635.25 Td (trading ) Tj ET Q q 0 0 0 rg BT 365.76 635.25 Td (day ) Tj ET Q q 0 0 0 rg BT 383.23 635.25 Td (of ) Tj ET Q q 0 0 0 rg BT 394.60 635.25 Td (the ) Tj ET Q q 0 0 0 rg BT 409.86 635.25 Td (of) Tj ET Q q 0 0 0 rg BT 418.01 635.25 Td (fering ) Tj ET Q q 0 0 0 rg BT 444.93 635.25 Td (period ) Tj ET Q q 0 0 0 rg BT 473.51 635.25 Td (or ) Tj ET Q q 0 0 0 rg BT 484.88 635.25 Td (\(ii\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.14 635.25 Td (85%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.47 635.25 Td ( ) Tj ET Q q 0 0 0 rg BT 521.51 635.25 Td (of ) Tj ET Q q 0 0 0 rg BT 532.88 635.25 Td (the ) Tj ET Q q 0 0 0 rg BT 548.13 635.25 Td (fair ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 623.25 Td (market ) Tj ET Q q 0 0 0 rg BT 80.38 623.25 Td (value ) Tj ET Q q 0 0 0 rg BT 104.64 623.25 Td (of ) Tj ET Q q 0 0 0 rg BT 115.59 623.25 Td (a ) Tj ET Q q 0 0 0 rg BT 122.64 623.25 Td (share ) Tj ET Q q 0 0 0 rg BT 146.35 623.25 Td (of ) Tj ET Q q 0 0 0 rg BT 157.29 623.25 Td (common ) Tj ET Q q 0 0 0 rg BT 194.90 623.25 Td (stock ) Tj ET Q q 0 0 0 rg BT 218.62 623.25 Td (on ) Tj ET Q q 0 0 0 rg BT 231.23 623.25 Td (the ) Tj ET Q q 0 0 0 rg BT 246.06 623.25 Td (last ) Tj ET Q q 0 0 0 rg BT 262.56 623.25 Td (trading ) Tj ET Q q 0 0 0 rg BT 293.50 623.25 Td (day ) Tj ET Q q 0 0 0 rg BT 310.55 623.25 Td (of ) Tj ET Q q 0 0 0 rg BT 321.49 623.25 Td (the ) Tj ET Q q 0 0 0 rg BT 336.32 623.25 Td (of) Tj ET Q q 0 0 0 rg BT 344.47 623.25 Td (fering ) Tj ET Q q 0 0 0 rg BT 370.96 623.25 Td (period. ) Tj ET Q q 0 0 0 rg BT 401.43 623.25 Td (The ) Tj ET Q q 0 0 0 rg BT 419.59 623.25 Td (ESPP) Tj ET Q q 0 0 0 rg BT 442.01 623.25 Td ( ) Tj ET Q q 0 0 0 rg BT 444.62 623.25 Td (will ) Tj ET Q q 0 0 0 rg BT 462.79 623.25 Td (continue ) Tj ET Q q 0 0 0 rg BT 499.84 623.25 Td (until ) Tj ET Q q 0 0 0 rg BT 520.78 623.25 Td (January ) Tj ET Q q 0 0 0 rg BT 554.49 623.25 Td (1, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 611.25 Td (2024, ) Tj ET Q q 0 0 0 rg BT 74.79 611.25 Td (unless ) Tj ET Q q 0 0 0 rg BT 102.08 611.25 Td (otherwise ) Tj ET Q q 0 0 0 rg BT 143.25 611.25 Td (terminated ) Tj ET Q q 0 0 0 rg BT 188.30 611.25 Td (by ) Tj ET Q q 0 0 0 rg BT 200.59 611.25 Td (the ) Tj ET Q q 0 0 0 rg BT 215.09 611.25 Td (Board. ) Tj ET Q q 0 0 0 rg BT 244.32 611.25 Td ( ) Tj ET Q q 0 0 0 rg BT 246.11 611.25 Td (As ) Tj ET Q q 0 0 0 rg BT 259.51 611.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.13 611.25 Td (September30, ) Tj ET Q q 0 0 0 rg BT 330.18 611.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.18 611.25 Td (, ) Tj ET Q q 0 0 0 rg BT 354.97 611.25 Td (employees ) Tj ET Q q 0 0 0 rg BT 400.03 611.25 Td (paid ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.53 611.25 Td ($29,765) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.03 611.25 Td ( ) Tj ET Q q 0 0 0 rg BT 454.32 611.25 Td (to ) Tj ET Q q 0 0 0 rg BT 464.39 611.25 Td (purchase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.22 611.25 Td (125,046) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.72 611.25 Td ( ) Tj ET Q q 0 0 0 rg BT 537.01 611.25 Td (shares ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 599.25 Td (at ) Tj ET Q q 0 0 0 rg BT 60.17 599.25 Td (the ) Tj ET Q q 0 0 0 rg BT 75.34 599.25 Td (end ) Tj ET Q q 0 0 0 rg BT 92.73 599.25 Td (of ) Tj ET Q q 0 0 0 rg BT 104.01 599.25 Td (the ) Tj ET Q q 0 0 0 rg BT 119.18 599.25 Td (of) Tj ET Q q 0 0 0 rg BT 127.33 599.25 Td (fering ) Tj ET Q q 0 0 0 rg BT 154.16 599.25 Td (periods. ) Tj ET Q q 0 0 0 rg BT 189.06 599.25 Td ( ) Tj ET Q q 0 0 0 rg BT 191.36 599.25 Td (As ) Tj ET Q q 0 0 0 rg BT 205.42 599.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.71 599.25 Td (September30, ) Tj ET Q q 0 0 0 rg BT 277.42 599.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.42 599.25 Td (, ) Tj ET Q q 0 0 0 rg BT 302.88 599.25 Td (the ) Tj ET Q q 0 0 0 rg BT 318.05 599.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 359.89 599.25 Td (had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.28 599.25 Td (1,367,351) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.28 599.25 Td ( ) Tj ET Q q 0 0 0 rg BT 420.23 599.25 Td (remaining ) Tj ET Q q 0 0 0 rg BT 463.73 599.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 491.67 599.25 Td (of ) Tj ET Q q 0 0 0 rg BT 502.95 599.25 Td (common ) Tj ET Q q 0 0 0 rg BT 540.90 599.25 Td (stock ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 587.25 Td (available ) Tj ET Q q 0 0 0 rg BT 88.59 587.25 Td (for ) Tj ET Q q 0 0 0 rg BT 102.75 587.25 Td (future ) Tj ET Q q 0 0 0 rg BT 129.13 587.25 Td (grants ) Tj ET Q q 0 0 0 rg BT 156.06 587.25 Td (under ) Tj ET Q q 0 0 0 rg BT 181.33 587.25 Td (the ) Tj ET Q q 0 0 0 rg BT 196.05 587.25 Td (ESPP) Tj ET Q q 0 0 0 rg BT 217.73 587.25 Td (. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 50 561.68505859375 m 163.3251953125 561.68505859375 l s q 0 0 0 rg BT 50.00 563.25 Td (Restricted ) Tj ET Q q 0 0 0 rg BT 96.37 563.25 Td (Stock ) Tj ET Q q 0 0 0 rg BT 122.76 563.25 Td (Issuances) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 551.25 Td (Ef) Tj ET Q q 0 0 0 rg BT 59.26 551.25 Td (fective ) Tj ET Q q 0 0 0 rg BT 88.13 551.25 Td (January ) Tj ET Q q 0 0 0 rg BT 120.91 551.25 Td (1, ) Tj ET Q q 0 0 0 rg BT 130.08 551.25 Td (2014, ) Tj ET Q q 0 0 0 rg BT 154.25 551.25 Td (the ) Tj ET Q q 0 0 0 rg BT 168.14 551.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 208.71 551.25 Td (entered ) Tj ET Q q 0 0 0 rg BT 239.80 551.25 Td (into ) Tj ET Q q 0 0 0 rg BT 257.03 551.25 Td (a ) Tj ET Q q 0 0 0 rg BT 263.15 551.25 Td (one ) Tj ET Q q 0 0 0 rg BT 279.26 551.25 Td (year ) Tj ET Q q 0 0 0 rg BT 298.14 551.25 Td (agreement ) Tj ET Q q 0 0 0 rg BT 341.45 551.25 Td (to ) Tj ET Q q 0 0 0 rg BT 350.91 551.25 Td (pay ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.02 551.25 Td ($7,500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.52 551.25 Td ( ) Tj ET Q q 0 0 0 rg BT 396.19 551.25 Td (per ) Tj ET Q q 0 0 0 rg BT 410.63 551.25 Td (month ) Tj ET Q q 0 0 0 rg BT 437.86 551.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.98 551.25 Td (100,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.48 551.25 Td ( ) Tj ET Q q 0 0 0 rg BT 488.15 551.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 514.81 551.25 Td (of ) Tj ET Q q 0 0 0 rg BT 524.82 551.25 Td (restricted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 539.25 Td (stock ) Tj ET Q q 0 0 0 rg BT 73.34 539.25 Td (per ) Tj ET Q q 0 0 0 rg BT 88.34 539.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 118.89 539.25 Td (to ) Tj ET Q q 0 0 0 rg BT 128.91 539.25 Td (a ) Tj ET Q q 0 0 0 rg BT 135.58 539.25 Td (firm ) Tj ET Q q 0 0 0 rg BT 155.03 539.25 Td (to ) Tj ET Q q 0 0 0 rg BT 165.04 539.25 Td (provide ) Tj ET Q q 0 0 0 rg BT 197.82 539.25 Td (investor ) Tj ET Q q 0 0 0 rg BT 232.27 539.25 Td (relations ) Tj ET Q q 0 0 0 rg BT 268.94 539.25 Td (services. ) Tj ET Q q 0 0 0 rg BT 305.88 539.25 Td ( ) Tj ET Q q 0 0 0 rg BT 308.12 539.25 Td (In ) Tj ET Q q 0 0 0 rg BT 318.68 539.25 Td (accordance ) Tj ET Q q 0 0 0 rg BT 365.87 539.25 Td (with ) Tj ET Q q 0 0 0 rg BT 385.89 539.25 Td (the ) Tj ET Q q 0 0 0 rg BT 400.34 539.25 Td (agreement, ) Tj ET Q q 0 0 0 rg BT 446.71 539.25 Td (the ) Tj ET Q q 0 0 0 rg BT 461.16 539.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 502.28 539.25 Td (issued ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.52 539.25 Td (100,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 562.02 539.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 527.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 77.65 527.25 Td (of ) Tj ET Q q 0 0 0 rg BT 88.64 527.25 Td (restricted ) Tj ET Q q 0 0 0 rg BT 128.51 527.25 Td (common ) Tj ET Q q 0 0 0 rg BT 166.16 527.25 Td (stock ) Tj ET Q q 0 0 0 rg BT 189.93 527.25 Td (valued ) Tj ET Q q 0 0 0 rg BT 219.25 527.25 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.13 527.25 Td ($30,1) Tj ET Q q 0 0 0 rg BT 251.25 527.25 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.25 527.25 Td ( ) Tj ET Q q 0 0 0 rg BT 263.92 527.25 Td (on ) Tj ET Q q 0 0 0 rg BT 276.58 527.25 Td (January ) Tj ET Q q 0 0 0 rg BT 310.34 527.25 Td (1, ) Tj ET Q q 0 0 0 rg BT 320.50 527.25 Td (2014 ) Tj ET Q q 0 0 0 rg BT 343.16 527.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.26 527.25 Td (100,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.76 527.25 Td ( ) Tj ET Q q 0 0 0 rg BT 395.42 527.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 423.07 527.25 Td (of ) Tj ET Q q 0 0 0 rg BT 434.06 527.25 Td (restricted ) Tj ET Q q 0 0 0 rg BT 473.93 527.25 Td (common ) Tj ET Q q 0 0 0 rg BT 511.58 527.25 Td (stock ) Tj ET Q q 0 0 0 rg BT 535.35 527.25 Td (valued ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 515.25 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.72 515.25 Td ($52,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.22 515.25 Td ( ) Tj ET Q q 0 0 0 rg BT 94.72 515.25 Td (on ) Tj ET Q q 0 0 0 rg BT 106.67 515.25 Td (April ) Tj ET Q q 0 0 0 rg BT 130.27 515.25 Td (1, ) Tj ET Q q 0 0 0 rg BT 140.27 515.25 Td (2014. ) Tj ET Q q 0 0 0 rg BT 165.09 515.25 Td (This ) Tj ET Q q 0 0 0 rg BT 185.37 515.25 Td (agreement ) Tj ET Q q 0 0 0 rg BT 229.51 515.25 Td (was ) Tj ET Q q 0 0 0 rg BT 247.56 515.25 Td (canceled ) Tj ET Q q 0 0 0 rg BT 285.03 515.25 Td (in ) Tj ET Q q 0 0 0 rg BT 295.31 515.25 Td (June ) Tj ET Q q 0 0 0 rg BT 316.14 515.25 Td (2014 ) Tj ET Q q 0 0 0 rg BT 338.64 515.25 Td (and ) Tj ET Q q 0 0 0 rg BT 355.58 515.25 Td (no ) Tj ET Q q 0 0 0 rg BT 368.08 515.25 Td (further ) Tj ET Q q 0 0 0 rg BT 397.79 515.25 Td (amounts ) Tj ET Q q 0 0 0 rg BT 434.17 515.25 Td (are ) Tj ET Q q 0 0 0 rg BT 448.88 515.25 Td (owed. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 491.25 Td (The ) Tj ET Q q 0 0 0 rg BT 67.79 491.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 108.93 491.25 Td (issued ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 136.17 491.25 Td (192,432) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 168.67 491.25 Td ( ) Tj ET Q q 0 0 0 rg BT 170.92 491.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 198.15 491.25 Td (of ) Tj ET Q q 0 0 0 rg BT 208.73 491.25 Td (restricted ) Tj ET Q q 0 0 0 rg BT 248.18 491.25 Td (common ) Tj ET Q q 0 0 0 rg BT 285.42 491.25 Td (stock ) Tj ET Q q 0 0 0 rg BT 308.77 491.25 Td (valued ) Tj ET Q q 0 0 0 rg BT 337.68 491.25 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.14 491.25 Td ($75,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.64 491.25 Td ( ) Tj ET Q q 0 0 0 rg BT 381.88 491.25 Td (to ) Tj ET Q q 0 0 0 rg BT 391.91 491.25 Td (its ) Tj ET Q q 0 0 0 rg BT 403.60 491.25 Td (directors ) Tj ET Q q 0 0 0 rg BT 440.83 491.25 Td (for ) Tj ET Q q 0 0 0 rg BT 454.74 491.25 Td (their ) Tj ET Q q 0 0 0 rg BT 475.31 491.25 Td (service ) Tj ET Q q 0 0 0 rg BT 505.87 491.25 Td (as ) Tj ET Q q 0 0 0 rg BT 516.45 491.25 Td (directors ) Tj ET Q q 0 0 0 rg BT 553.68 491.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 479.25 Td (the ) Tj ET Q q 0 0 0 rg BT 64.72 479.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 106.10 479.25 Td (during ) Tj ET Q q 0 0 0 rg BT 134.71 479.25 Td (the ) Tj ET Q q 0 0 0 rg BT 149.43 479.25 Td (year ) Tj ET Q q 0 0 0 rg BT 169.14 479.25 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 195.51 479.25 Td (December31, ) Tj ET Q q 0 0 0 rg BT 254.10 479.25 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.10 479.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 455.25 Td (The ) Tj ET Q q 0 0 0 rg BT 68.26 455.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 109.86 455.25 Td (has ) Tj ET Q q 0 0 0 rg BT 125.91 455.25 Td (reserved ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.49 455.25 Td (196,134) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.99 455.25 Td ( ) Tj ET Q q 0 0 0 rg BT 197.71 455.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 225.41 455.25 Td (of ) Tj ET Q q 0 0 0 rg BT 236.46 455.25 Td (restricted ) Tj ET Q q 0 0 0 rg BT 276.37 455.25 Td (common ) Tj ET Q q 0 0 0 rg BT 314.08 455.25 Td (stock ) Tj ET Q q 0 0 0 rg BT 337.91 455.25 Td (valued ) Tj ET Q q 0 0 0 rg BT 367.28 455.25 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.21 455.25 Td ($76,042) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.71 455.25 Td ( ) Tj ET Q q 0 0 0 rg BT 412.42 455.25 Td (for ) Tj ET Q q 0 0 0 rg BT 426.80 455.25 Td (future ) Tj ET Q q 0 0 0 rg BT 453.39 455.25 Td (issuance ) Tj ET Q q 0 0 0 rg BT 489.98 455.25 Td (to ) Tj ET Q q 0 0 0 rg BT 500.47 455.25 Td (its ) Tj ET Q q 0 0 0 rg BT 512.64 455.25 Td (directors ) Tj ET Q q 0 0 0 rg BT 550.34 455.25 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 443.25 Td (their ) Tj ET Q q 0 0 0 rg BT 70.83 443.25 Td (service ) Tj ET Q q 0 0 0 rg BT 101.64 443.25 Td (as ) Tj ET Q q 0 0 0 rg BT 112.47 443.25 Td (directors ) Tj ET Q q 0 0 0 rg BT 149.96 443.25 Td (of ) Tj ET Q q 0 0 0 rg BT 160.79 443.25 Td (the ) Tj ET Q q 0 0 0 rg BT 175.50 443.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 216.89 443.25 Td (during ) Tj ET Q q 0 0 0 rg BT 245.50 443.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.21 443.25 Td (nine ) Tj ET Q q 0 0 0 rg BT 279.93 443.25 Td (months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.38 443.25 Td ( ) Tj ET Q q 0 0 0 rg BT 311.88 443.25 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.26 443.25 Td (September30, ) Tj ET Q q 0 0 0 rg BT 398.52 443.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.52 443.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 419.25 Td (On ) Tj ET Q q 0 0 0 rg BT 64.06 419.25 Td (April ) Tj ET Q q 0 0 0 rg BT 87.52 419.25 Td (30, ) Tj ET Q q 0 0 0 rg BT 102.38 419.25 Td (2015, ) Tj ET Q q 0 0 0 rg BT 127.23 419.25 Td (the ) Tj ET Q q 0 0 0 rg BT 141.80 419.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 183.04 419.25 Td (issued ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 210.40 419.25 Td (25,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.90 419.25 Td ( ) Tj ET Q q 0 0 0 rg BT 240.25 419.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 267.60 419.25 Td (of ) Tj ET Q q 0 0 0 rg BT 278.28 419.25 Td (restricted ) Tj ET Q q 0 0 0 rg BT 317.84 419.25 Td (common ) Tj ET Q q 0 0 0 rg BT 355.19 419.25 Td (stock ) Tj ET Q q 0 0 0 rg BT 378.65 419.25 Td (valued ) Tj ET Q q 0 0 0 rg BT 407.66 419.25 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.24 419.25 Td ($8,700) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.74 419.25 Td ( ) Tj ET Q q 0 0 0 rg BT 447.09 419.25 Td (for ) Tj ET Q q 0 0 0 rg BT 461.11 419.25 Td (an ) Tj ET Q q 0 0 0 rg BT 472.90 419.25 Td (employee ) Tj ET Q q 0 0 0 rg BT 514.13 419.25 Td (stock ) Tj ET Q q 0 0 0 rg BT 537.59 419.25 Td (award ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 407.25 Td (during ) Tj ET Q q 0 0 0 rg BT 78.61 407.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.33 407.25 Td (nine ) Tj ET Q q 0 0 0 rg BT 113.04 407.25 Td (months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.49 407.25 Td ( ) Tj ET Q q 0 0 0 rg BT 144.99 407.25 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.37 407.25 Td (September30, ) Tj ET Q q 0 0 0 rg BT 231.63 407.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.63 407.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 383.25 Td (Per ) Tj ET Q q 0 0 0 rg BT 66.05 383.25 Td (the ) Tj ET Q q 0 0 0 rg BT 80.98 383.25 Td (terms ) Tj ET Q q 0 0 0 rg BT 105.92 383.25 Td (of ) Tj ET Q q 0 0 0 rg BT 116.97 383.25 Td (the ) Tj ET Q q 0 0 0 rg BT 131.90 383.25 Td (Ebyline ) Tj ET Q q 0 0 0 rg BT 165.73 383.25 Td (Stock ) Tj ET Q q 0 0 0 rg BT 191.22 383.25 Td (Purchase ) Tj ET Q q 0 0 0 rg BT 229.44 383.25 Td (Agreement ) Tj ET Q q 0 0 0 rg BT 276.58 383.25 Td (\(See ) Tj ET Q q 0 0 0 rg BT 297.07 383.25 Td (Note ) Tj ET Q q 0 0 0 rg BT 319.23 383.25 Td (2\), ) Tj ET Q q 0 0 0 rg BT 332.78 383.25 Td (the ) Tj ET Q q 0 0 0 rg BT 347.71 383.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 389.32 383.25 Td (issued ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.04 383.25 Td (636,294) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.54 383.25 Td ( ) Tj ET Q q 0 0 0 rg BT 452.26 383.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 479.96 383.25 Td (of ) Tj ET Q q 0 0 0 rg BT 491.01 383.25 Td (its ) Tj ET Q q 0 0 0 rg BT 503.18 383.25 Td (common ) Tj ET Q q 0 0 0 rg BT 540.89 383.25 Td (stock ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 371.25 Td (valued ) Tj ET Q q 0 0 0 rg BT 79.16 371.25 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.87 371.25 Td ($250,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 126.37 371.25 Td ( ) Tj ET Q q 0 0 0 rg BT 128.87 371.25 Td (\() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 132.20 371.25 Td ($.3929) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.70 371.25 Td ( ) Tj ET Q q 0 0 0 rg BT 162.20 371.25 Td (per ) Tj ET Q q 0 0 0 rg BT 177.47 371.25 Td (common ) Tj ET Q q 0 0 0 rg BT 214.97 371.25 Td (share\) ) Tj ET Q q 0 0 0 rg BT 241.89 371.25 Td (to ) Tj ET Q q 0 0 0 rg BT 252.17 371.25 Td (satisfy ) Tj ET Q q 0 0 0 rg BT 280.78 371.25 Td (its ) Tj ET Q q 0 0 0 rg BT 292.73 371.25 Td (payment ) Tj ET Q q 0 0 0 rg BT 329.66 371.25 Td (obligation ) Tj ET Q q 0 0 0 rg BT 372.71 371.25 Td (on ) Tj ET Q q 0 0 0 rg BT 385.21 371.25 Td (July ) Tj ET Q q 0 0 0 rg BT 404.38 371.25 Td (30, ) Tj ET Q q 0 0 0 rg BT 419.38 371.25 Td (2015. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 347.25 Td (On ) Tj ET Q q 0 0 0 rg BT 64.14 347.25 Td (August ) Tj ET Q q 0 0 0 rg BT 95.50 347.25 Td (15, ) Tj ET Q q 0 0 0 rg BT 110.47 347.25 Td (2015, ) Tj ET Q q 0 0 0 rg BT 135.44 347.25 Td (the ) Tj ET Q q 0 0 0 rg BT 150.12 347.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 191.48 347.25 Td (issued ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 218.94 347.25 Td (1,687,500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.94 347.25 Td ( ) Tj ET Q q 0 0 0 rg BT 261.41 347.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 288.87 347.25 Td (of ) Tj ET Q q 0 0 0 rg BT 299.67 347.25 Td (restricted ) Tj ET Q q 0 0 0 rg BT 339.33 347.25 Td (common ) Tj ET Q q 0 0 0 rg BT 376.80 347.25 Td (stock ) Tj ET Q q 0 0 0 rg BT 400.37 347.25 Td (to ) Tj ET Q q 0 0 0 rg BT 410.62 347.25 Td (a ) Tj ET Q q 0 0 0 rg BT 417.52 347.25 Td (director ) Tj ET Q q 0 0 0 rg BT 451.08 347.25 Td (for ) Tj ET Q q 0 0 0 rg BT 465.21 347.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 492.67 347.25 Td (that ) Tj ET Q q 0 0 0 rg BT 510.13 347.25 Td (were ) Tj ET Q q 0 0 0 rg BT 532.03 347.25 Td (granted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 335.25 Td (to ) Tj ET Q q 0 0 0 rg BT 60.28 335.25 Td (him ) Tj ET Q q 0 0 0 rg BT 78.33 335.25 Td (in ) Tj ET Q q 0 0 0 rg BT 88.61 335.25 Td (2013 ) Tj ET Q q 0 0 0 rg BT 111.11 335.25 Td (as ) Tj ET Q q 0 0 0 rg BT 121.94 335.25 Td (consideration ) Tj ET Q q 0 0 0 rg BT 178.32 335.25 Td (for ) Tj ET Q q 0 0 0 rg BT 192.48 335.25 Td (loans ) Tj ET Q q 0 0 0 rg BT 216.08 335.25 Td (made ) Tj ET Q q 0 0 0 rg BT 240.24 335.25 Td (to ) Tj ET Q q 0 0 0 rg BT 250.52 335.25 Td (the ) Tj ET Q q 0 0 0 rg BT 265.23 335.25 Td (Company) Tj ET Q q 0 0 0 rg BT 303.47 335.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 311.25 Td (The ) Tj ET Q q 0 0 0 rg BT 69.95 311.25 Td (following ) Tj ET Q q 0 0 0 rg BT 113.23 311.25 Td (table ) Tj ET Q q 0 0 0 rg BT 137.06 311.25 Td (contains ) Tj ET Q q 0 0 0 rg BT 174.79 311.25 Td (summarized ) Tj ET Q q 0 0 0 rg BT 228.06 311.25 Td (information ) Tj ET Q q 0 0 0 rg BT 279.67 311.25 Td (about ) Tj ET Q q 0 0 0 rg BT 306.28 311.25 Td (nonvested ) Tj ET Q q 0 0 0 rg BT 351.23 311.25 Td (restricted ) Tj ET Q q 0 0 0 rg BT 392.83 311.25 Td (stock ) Tj ET Q q 0 0 0 rg BT 418.33 311.25 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 469.40 311.25 Td (during ) Tj ET Q q 0 0 0 rg BT 499.91 311.25 Td (the ) Tj ET Q q 0 0 0 rg BT 516.52 311.25 Td (year ) Tj ET Q q 0 0 0 rg BT 538.13 311.25 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 299.25 Td (December31, ) Tj ET Q q 0 0 0 rg BT 108.58 299.25 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.58 299.25 Td ( ) Tj ET Q q 0 0 0 rg BT 131.08 299.25 Td (and ) Tj ET Q q 0 0 0 rg BT 148.02 299.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.74 299.25 Td (nine ) Tj ET Q q 0 0 0 rg BT 182.46 299.25 Td (months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.90 299.25 Td ( ) Tj ET Q q 0 0 0 rg BT 214.40 299.25 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.78 299.25 Td (September30, ) Tj ET Q q 0 0 0 rg BT 301.04 299.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.04 299.25 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 265.75 442.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 265.75 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 241.75 442.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 241.75 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 217.75 442.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 217.75 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 193.75 442.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 193.75 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 169.75 442.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 169.75 70.00 -12.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 265.75 m 492.5 265.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 265.75 m 492.5 265.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 265.75 m 562.5 265.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 217.75 m 492.5 217.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 217.75 m 562.5 217.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 169.75 m 492.5 169.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 158.75 m 492.5 158.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 156.75 m 492.5 156.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 169.75 m 562.5 169.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 158.75 m 562.5 158.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 156.75 m 562.5 156.75 l s BT /F4 10.00 Tf ET q 0 0 0 rg BT 53.00 270.43 Td (Restricted Stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.35 279.32 Td (Common) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.65 269.32 Td (Shares) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 256.37 Td (Nonvested at December 31, 2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 256.37 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 244.37 Td (Granted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 244.37 Td (392,432) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 232.37 Td (Vested) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.80 232.37 Td (\(392,432) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 232.37 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 220.37 Td (Forfeited) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 220.37 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 208.37 Td (Nonvested at December 31, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 208.37 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 196.37 Td (Granted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 196.37 Td (221,134) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 184.37 Td (Vested) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.80 184.37 Td (\(221,134) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 184.37 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 172.37 Td (Forfeited) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 172.37 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 160.37 Td (Nonvested at September 30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 160.37 Td () Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 134.25 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 134.25 Td (otal ) Tj ET Q q 0 0 0 rg BT 71.71 134.25 Td (stock-based ) Tj ET Q q 0 0 0 rg BT 120.22 134.25 Td (compensation ) Tj ET Q q 0 0 0 rg BT 177.06 134.25 Td (expense ) Tj ET Q q 0 0 0 rg BT 210.57 134.25 Td (recognized ) Tj ET Q q 0 0 0 rg BT 255.74 134.25 Td (for ) Tj ET Q q 0 0 0 rg BT 268.70 134.25 Td (vested ) Tj ET Q q 0 0 0 rg BT 295.55 134.25 Td (restricted ) Tj ET Q q 0 0 0 rg BT 334.05 134.25 Td (stock ) Tj ET Q q 0 0 0 rg BT 356.47 134.25 Td (awards ) Tj ET Q q 0 0 0 rg BT 386.09 134.25 Td (during ) Tj ET Q q 0 0 0 rg BT 413.50 134.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.02 134.25 Td (three ) Tj ET Q q 0 0 0 rg BT 448.31 134.25 Td (months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.76 134.25 Td ( ) Tj ET Q q 0 0 0 rg BT 479.06 134.25 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.24 134.25 Td (September30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 122.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 122.25 Td ( ) Tj ET Q q 0 0 0 rg BT 73.42 122.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 91.28 122.25 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.28 122.25 Td ( ) Tj ET Q q 0 0 0 rg BT 114.70 122.25 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.67 122.25 Td ($31,251) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 166.17 122.25 Td ( ) Tj ET Q q 0 0 0 rg BT 169.59 122.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 187.45 122.25 Td ($18,750) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.95 122.25 Td (, ) Tj ET Q q 0 0 0 rg BT 225.87 122.25 Td (respectively) Tj ET Q q 0 0 0 rg BT 273.53 122.25 Td (, ) Tj ET Q q 0 0 0 rg BT 279.45 122.25 Td (all ) Tj ET Q q 0 0 0 rg BT 292.87 122.25 Td (of ) Tj ET Q q 0 0 0 rg BT 304.62 122.25 Td (which ) Tj ET Q q 0 0 0 rg BT 332.48 122.25 Td (is ) Tj ET Q q 0 0 0 rg BT 342.57 122.25 Td (included ) Tj ET Q q 0 0 0 rg BT 380.42 122.25 Td (in ) Tj ET Q q 0 0 0 rg BT 391.62 122.25 Td (general ) Tj ET Q q 0 0 0 rg BT 424.47 122.25 Td (and ) Tj ET Q q 0 0 0 rg BT 442.32 122.25 Td (administrative ) Tj ET Q q 0 0 0 rg BT 502.95 122.25 Td (expense ) Tj ET Q q 0 0 0 rg BT 538.58 122.25 Td (in ) Tj ET Q q 0 0 0 rg BT 549.78 122.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 110.25 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 103.68 110.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 149.03 110.25 Td (of ) Tj ET Q q 0 0 0 rg BT 160.50 110.25 Td (operations. ) Tj ET Q q 0 0 0 rg BT 207.79 110.25 Td ( ) Tj ET Q q 0 0 0 rg BT 210.71 110.25 Td (T) Tj ET Q q 0 0 0 rg BT 216.12 110.25 Td (otal ) Tj ET Q q 0 0 0 rg BT 234.25 110.25 Td (stock-based ) Tj ET Q q 0 0 0 rg BT 284.60 110.25 Td (compensation ) Tj ET Q q 0 0 0 rg BT 343.28 110.25 Td (expense ) Tj ET Q q 0 0 0 rg BT 378.62 110.25 Td (recognized ) Tj ET Q q 0 0 0 rg BT 425.62 110.25 Td (for ) Tj ET Q q 0 0 0 rg BT 440.42 110.25 Td (vested ) Tj ET Q q 0 0 0 rg BT 469.11 110.25 Td (restricted ) Tj ET Q q 0 0 0 rg BT 509.45 110.25 Td (stock ) Tj ET Q q 0 0 0 rg BT 533.69 110.25 Td (awards ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 98.25 Td (during ) Tj ET Q q 0 0 0 rg BT 77.84 98.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 91.78 98.25 Td (nine ) Tj ET Q q 0 0 0 rg BT 110.73 98.25 Td (months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 140.18 98.25 Td ( ) Tj ET Q q 0 0 0 rg BT 141.90 98.25 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.51 98.25 Td (September30, ) Tj ET Q q 0 0 0 rg BT 227.00 98.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.00 98.25 Td ( ) Tj ET Q q 0 0 0 rg BT 248.73 98.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.90 98.25 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.90 98.25 Td ( ) Tj ET Q q 0 0 0 rg BT 286.63 98.25 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.91 98.25 Td ($84,742) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.41 98.25 Td ( ) Tj ET Q q 0 0 0 rg BT 338.13 98.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.30 98.25 Td ($147,860) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.80 98.25 Td (, ) Tj ET Q q 0 0 0 rg BT 396.03 98.25 Td (respectively) Tj ET Q q 0 0 0 rg BT 443.69 98.25 Td (. ) Tj ET Q q 0 0 0 rg BT 447.92 98.25 Td ( ) Tj ET Q q 0 0 0 rg BT 449.52 98.25 Td (The ) Tj ET Q q 0 0 0 rg BT 466.80 98.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 482.40 98.25 Td (value ) Tj ET Q q 0 0 0 rg BT 505.79 98.25 Td (of ) Tj ET Q q 0 0 0 rg BT 515.85 98.25 Td (the ) Tj ET Q q 0 0 0 rg BT 529.79 98.25 Td (services ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 86.25 Td (is ) Tj ET Q q 0 0 0 rg BT 59.17 86.25 Td (based ) Tj ET Q q 0 0 0 rg BT 84.44 86.25 Td (on ) Tj ET Q q 0 0 0 rg BT 96.94 86.25 Td (the ) Tj ET Q q 0 0 0 rg BT 111.66 86.25 Td (value ) Tj ET Q q 0 0 0 rg BT 135.81 86.25 Td (of ) Tj ET Q q 0 0 0 rg BT 146.64 86.25 Td (the ) Tj ET Q q 0 0 0 rg BT 161.36 86.25 Td (Company's ) Tj ET Q q 0 0 0 rg BT 208.44 86.25 Td (common ) Tj ET Q q 0 0 0 rg BT 245.93 86.25 Td (stock ) Tj ET Q q 0 0 0 rg BT 269.54 86.25 Td (over ) Tj ET Q q 0 0 0 rg BT 289.81 86.25 Td (the ) Tj ET Q q 0 0 0 rg BT 304.53 86.25 Td (term ) Tj ET Q q 0 0 0 rg BT 325.35 86.25 Td (of ) Tj ET Q q 0 0 0 rg BT 336.18 86.25 Td (service. ) Tj ET Q endstream endobj 43 0 obj <> endobj 44 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 283.05 772.75 Td (IZEA, Inc.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 181.55 760.75 Td (Notes to the Unaudited Consolidated Financial Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (19) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 730.25 Td (NOTE ) Tj ET Q q 0 0 0 rg BT 80.84 730.25 Td (7. ) Tj ET Q q 0 0 0 rg BT 122.00 730.25 Td (EARNINGS ) Tj ET Q q 0 0 0 rg BT 177.29 730.25 Td (\(LOSS\) ) Tj ET Q q 0 0 0 rg BT 212.02 730.25 Td (PER ) Tj ET Q q 0 0 0 rg BT 234.52 730.25 Td (COMMON ) Tj ET Q q 0 0 0 rg BT 285.90 730.25 Td (SHARE) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.25 Td (Basic ) Tj ET Q q 0 0 0 rg BT 75.57 706.25 Td (earnings ) Tj ET Q q 0 0 0 rg BT 112.81 706.25 Td (\(loss\) ) Tj ET Q q 0 0 0 rg BT 138.39 706.25 Td (per ) Tj ET Q q 0 0 0 rg BT 154.51 706.25 Td (share ) Tj ET Q q 0 0 0 rg BT 178.97 706.25 Td (is ) Tj ET Q q 0 0 0 rg BT 188.99 706.25 Td (computed ) Tj ET Q q 0 0 0 rg BT 231.78 706.25 Td (by ) Tj ET Q q 0 0 0 rg BT 245.14 706.25 Td (dividing ) Tj ET Q q 0 0 0 rg BT 281.83 706.25 Td (the ) Tj ET Q q 0 0 0 rg BT 297.41 706.25 Td (net ) Tj ET Q q 0 0 0 rg BT 312.98 706.25 Td (income ) Tj ET Q q 0 0 0 rg BT 345.77 706.25 Td (or ) Tj ET Q q 0 0 0 rg BT 357.46 706.25 Td (loss ) Tj ET Q q 0 0 0 rg BT 376.38 706.25 Td (by ) Tj ET Q q 0 0 0 rg BT 389.73 706.25 Td (the ) Tj ET Q q 0 0 0 rg BT 405.31 706.25 Td (weighted-average ) Tj ET Q q 0 0 0 rg BT 479.73 706.25 Td (number ) Tj ET Q q 0 0 0 rg BT 513.64 706.25 Td (of ) Tj ET Q q 0 0 0 rg BT 525.32 706.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 553.67 706.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.25 Td (common ) Tj ET Q q 0 0 0 rg BT 87.58 694.25 Td (stock ) Tj ET Q q 0 0 0 rg BT 111.27 694.25 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 160.52 694.25 Td (during ) Tj ET Q q 0 0 0 rg BT 189.21 694.25 Td (each ) Tj ET Q q 0 0 0 rg BT 210.11 694.25 Td (period ) Tj ET Q q 0 0 0 rg BT 238.24 694.25 Td (presented. ) Tj ET Q q 0 0 0 rg BT 281.64 694.25 Td ( ) Tj ET Q q 0 0 0 rg BT 284.22 694.25 Td (Diluted ) Tj ET Q q 0 0 0 rg BT 316.80 694.25 Td (earnings ) Tj ET Q q 0 0 0 rg BT 353.26 694.25 Td (per ) Tj ET Q q 0 0 0 rg BT 368.61 694.25 Td (share ) Tj ET Q q 0 0 0 rg BT 392.29 694.25 Td (is ) Tj ET Q q 0 0 0 rg BT 401.54 694.25 Td (computed ) Tj ET Q q 0 0 0 rg BT 443.56 694.25 Td (by ) Tj ET Q q 0 0 0 rg BT 456.14 694.25 Td (dividing ) Tj ET Q q 0 0 0 rg BT 492.06 694.25 Td (the ) Tj ET Q q 0 0 0 rg BT 506.86 694.25 Td (net ) Tj ET Q q 0 0 0 rg BT 521.66 694.25 Td (income ) Tj ET Q q 0 0 0 rg BT 553.68 694.25 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (loss ) Tj ET Q q 0 0 0 rg BT 68.02 682.25 Td (by ) Tj ET Q q 0 0 0 rg BT 80.49 682.25 Td (the ) Tj ET Q q 0 0 0 rg BT 95.17 682.25 Td (weighted-average ) Tj ET Q q 0 0 0 rg BT 168.70 682.25 Td (number ) Tj ET Q q 0 0 0 rg BT 201.71 682.25 Td (of ) Tj ET Q q 0 0 0 rg BT 212.50 682.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 239.96 682.25 Td (of ) Tj ET Q q 0 0 0 rg BT 250.75 682.25 Td (common ) Tj ET Q q 0 0 0 rg BT 288.21 682.25 Td (stock ) Tj ET Q q 0 0 0 rg BT 311.78 682.25 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 360.91 682.25 Td (plus ) Tj ET Q q 0 0 0 rg BT 380.04 682.25 Td (the ) Tj ET Q q 0 0 0 rg BT 394.72 682.25 Td (additional ) Tj ET Q q 0 0 0 rg BT 437.18 682.25 Td (dilutive ) Tj ET Q q 0 0 0 rg BT 470.19 682.25 Td (securities ) Tj ET Q q 0 0 0 rg BT 510.42 682.25 Td (that ) Tj ET Q q 0 0 0 rg BT 527.88 682.25 Td (could ) Tj ET Q q 0 0 0 rg BT 552.56 682.25 Td (be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.25 Td (exercised ) Tj ET Q q 0 0 0 rg BT 89.62 670.25 Td (or ) Tj ET Q q 0 0 0 rg BT 99.82 670.25 Td (converted ) Tj ET Q q 0 0 0 rg BT 141.12 670.25 Td (into ) Tj ET Q q 0 0 0 rg BT 158.54 670.25 Td (common ) Tj ET Q q 0 0 0 rg BT 195.41 670.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 222.26 670.25 Td (during ) Tj ET Q q 0 0 0 rg BT 250.24 670.25 Td (each ) Tj ET Q q 0 0 0 rg BT 270.43 670.25 Td (period ) Tj ET Q q 0 0 0 rg BT 297.84 670.25 Td (presented ) Tj ET Q q 0 0 0 rg BT 338.03 670.25 Td (less ) Tj ET Q q 0 0 0 rg BT 354.90 670.25 Td (the ) Tj ET Q q 0 0 0 rg BT 368.98 670.25 Td (amount ) Tj ET Q q 0 0 0 rg BT 400.85 670.25 Td (of ) Tj ET Q q 0 0 0 rg BT 411.05 670.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 437.91 670.25 Td (that ) Tj ET Q q 0 0 0 rg BT 454.77 670.25 Td (could ) Tj ET Q q 0 0 0 rg BT 478.86 670.25 Td (be ) Tj ET Q q 0 0 0 rg BT 490.16 670.25 Td (repurchased ) Tj ET Q q 0 0 0 rg BT 540.34 670.25 Td (using ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.25 Td (the ) Tj ET Q q 0 0 0 rg BT 64.72 658.25 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 102.75 658.25 Td (from ) Tj ET Q q 0 0 0 rg BT 124.69 658.25 Td (the ) Tj ET Q q 0 0 0 rg BT 139.41 658.25 Td (exercises. ) Tj ET Q q 0 0 0 rg BT 181.05 658.25 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 614.75 220.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 614.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 614.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 614.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 614.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 614.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 614.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 614.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 584.75 220.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 584.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 584.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 584.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 584.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 584.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 584.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 584.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 544.75 220.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 544.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 544.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 544.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 544.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 544.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 544.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 544.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 504.75 220.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 504.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 504.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 504.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 504.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 504.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 504.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 504.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 474.75 220.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 474.75 70.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 474.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 474.75 70.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 474.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 474.75 70.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 474.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 474.75 70.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 424.75 220.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 424.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 424.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 424.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 424.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 424.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 424.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 424.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 399.75 220.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 399.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 399.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 399.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 399.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 399.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 399.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 399.75 70.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 635.75 m 339.5 635.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 339.5 635.75 m 343.5 635.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 635.75 m 413.5 635.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 635.75 m 487.5 635.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487.5 635.75 m 491.5 635.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 635.75 m 561.5 635.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 614.75 m 339.5 614.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 614.75 m 413.5 614.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 614.75 m 487.5 614.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 614.75 m 561.5 614.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 614.75 m 339.5 614.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 614.75 m 413.5 614.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 614.75 m 487.5 614.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 614.75 m 561.5 614.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 584.75 m 339.5 584.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 570.75 m 339.5 570.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 568.75 m 339.5 568.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 584.75 m 413.5 584.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 570.75 m 413.5 570.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 568.75 m 413.5 568.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 584.75 m 487.5 584.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 570.75 m 487.5 570.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 568.75 m 487.5 568.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 584.75 m 561.5 584.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 570.75 m 561.5 570.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 568.75 m 561.5 568.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 529.75 m 339.5 529.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 529.75 m 413.5 529.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 529.75 m 487.5 529.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 529.75 m 561.5 529.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 424.75 m 339.5 424.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 424.75 m 413.5 424.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 424.75 m 487.5 424.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 424.75 m 561.5 424.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 424.75 m 339.5 424.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 409.75 m 339.5 409.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 424.75 m 413.5 424.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 409.75 m 413.5 409.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 424.75 m 487.5 424.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 409.75 m 487.5 409.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 424.75 m 561.5 424.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 409.75 m 561.5 409.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 399.75 m 339.5 399.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 385.75 m 339.5 385.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269.5 383.75 m 339.5 383.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 399.75 m 413.5 399.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 385.75 m 413.5 385.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 383.75 m 413.5 383.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 399.75 m 487.5 399.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 385.75 m 487.5 385.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 383.75 m 487.5 383.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 399.75 m 561.5 399.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 385.75 m 561.5 385.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 383.75 m 561.5 383.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.75 638.37 Td (Three Months Ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.70 638.37 Td (Nine Months Ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.10 626.32 Td (September 30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.00 616.37 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.10 626.32 Td (September 30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.00 616.37 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.10 626.32 Td (September 30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.00 616.37 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.10 626.32 Td (September 30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 616.37 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 604.42 Td (Net Income \(Loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.00 604.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.30 604.47 Td (\(2,645,087) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.65 604.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 604.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.15 604.42 Td (685,370) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.00 604.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.30 604.47 Td (\(8,901,290) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.65 604.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 604.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 604.42 Td (2,145,194) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 589.42 Td (Weighted average shares outstanding - basic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.65 589.42 Td (81,512,092) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.65 589.42 Td (57,350,743) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 589.42 Td (65,728,626) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.65 589.42 Td (50,584,635) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 574.42 Td (Basic income \(loss\) per share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.00 574.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.80 574.47 Td (\(0.03) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.65 574.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 574.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 574.42 Td (0.01) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.00 574.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.80 574.47 Td (\(0.14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.65 574.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 574.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 574.42 Td (0.04) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 534.42 Td (Net Income \(Loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.00 534.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.30 534.47 Td (\(2,645,087) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.65 534.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 534.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.15 534.42 Td (685,370) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.00 534.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.30 534.47 Td (\(8,901,290) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.65 534.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 534.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 534.42 Td (2,145,194) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 509.42 Td (Weighted average shares outstanding - basic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.65 509.42 Td (81,512,092) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.65 509.42 Td (57,350,743) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 509.42 Td (65,728,626) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.65 509.42 Td (50,584,635) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 494.42 Td (Potential shares from "in-the-money" options) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.65 494.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.65 494.42 Td (8,156,507) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 494.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 494.42 Td (7,706,548) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 479.42 Td (Potential shares from "in-the-money" warrants) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.65 479.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.65 479.42 Td (28,953,989) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 479.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.65 479.42 Td (25,746,789) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 464.42 Td (Potential shares from converted restricted stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 454.42 Td (units) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.65 454.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.65 454.42 Td (1,781,503) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 454.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 454.42 Td (1,742,146) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 439.42 Td (Less: Shares assumed repurchased under the) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 429.42 Td (Treasury Stock Method) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.65 429.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.30 429.47 Td (\(26,813,749) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 429.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 429.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.30 429.47 Td (\(22,116,926) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 429.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 414.42 Td (Weighted average shares outstanding - diluted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.65 414.42 Td (81,512,092) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.65 414.42 Td (69,428,993) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 414.42 Td (65,728,626) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.65 414.42 Td (63,663,192) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 389.42 Td (Diluted income \(loss\) per share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.00 389.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.80 389.47 Td (\(0.03) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.65 389.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.00 389.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 389.42 Td (0.01) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.00 389.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.80 389.47 Td (\(0.14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.65 389.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.00 389.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 389.42 Td (0.03) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 361.25 Td (The ) Tj ET Q q 0 0 0 rg BT 67.70 361.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 108.74 361.25 Td (excluded ) Tj ET Q q 0 0 0 rg BT 146.99 361.25 Td (the ) Tj ET Q q 0 0 0 rg BT 161.36 361.25 Td (following ) Tj ET Q q 0 0 0 rg BT 202.40 361.25 Td (weighted ) Tj ET Q q 0 0 0 rg BT 241.21 361.25 Td (average ) Tj ET Q q 0 0 0 rg BT 274.44 361.25 Td (items ) Tj ET Q q 0 0 0 rg BT 298.26 361.25 Td (from ) Tj ET Q q 0 0 0 rg BT 319.85 361.25 Td (the ) Tj ET Q q 0 0 0 rg BT 334.22 361.25 Td (above ) Tj ET Q q 0 0 0 rg BT 360.25 361.25 Td (computation ) Tj ET Q q 0 0 0 rg BT 412.40 361.25 Td (of ) Tj ET Q q 0 0 0 rg BT 422.88 361.25 Td (diluted ) Tj ET Q q 0 0 0 rg BT 452.81 361.25 Td (earnings ) Tj ET Q q 0 0 0 rg BT 488.84 361.25 Td (per ) Tj ET Q q 0 0 0 rg BT 503.76 361.25 Td (common ) Tj ET Q q 0 0 0 rg BT 540.91 361.25 Td (share ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 349.25 Td (as ) Tj ET Q q 0 0 0 rg BT 60.83 349.25 Td (their ) Tj ET Q q 0 0 0 rg BT 81.66 349.25 Td (ef) Tj ET Q q 0 0 0 rg BT 89.24 349.25 Td (fect ) Tj ET Q q 0 0 0 rg BT 106.73 349.25 Td (would ) Tj ET Q q 0 0 0 rg BT 134.23 349.25 Td (be ) Tj ET Q q 0 0 0 rg BT 146.17 349.25 Td (anti-dilutive: ) Tj ET Q q 0 0 0 rg BT 200.32 349.25 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 298.75 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 298.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.50 298.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 298.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 298.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 298.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 298.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.50 298.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 298.75 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 268.75 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 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(September 30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.00 303.42 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.10 313.42 Td (September 30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.00 303.42 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.10 313.42 Td (September 30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.00 303.42 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.10 313.42 Td (September 30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.00 303.42 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 288.42 Td (Stock options) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.65 288.42 Td (14,776,405) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.65 288.42 Td (1,699,021) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 288.42 Td (14,140,347) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 288.42 Td (1,004,445) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 273.42 Td (Warrants) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.65 273.42 Td (31,900,848) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.65 273.42 Td (25,135,499) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 273.42 Td (46,572,904) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.65 273.42 Td (21,727,235) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 258.42 Td (Restricted stock units) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.15 258.42 Td (988,414) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.65 258.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.65 258.42 Td (1,494,768) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 258.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 243.42 Td (Total excluded shares) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.65 243.42 Td (47,665,667) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.65 243.42 Td (26,834,520) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 243.42 Td (62,208,019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.65 243.42 Td (22,731,680) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 215.25 Td (NOTE ) Tj ET Q q 0 0 0 rg BT 80.84 215.25 Td (8. ) Tj ET Q q 0 0 0 rg BT 122.00 215.25 Td (SUBSEQUENT) Tj ET Q q 0 0 0 rg BT 189.07 215.25 Td ( ) Tj ET Q q 0 0 0 rg BT 191.57 215.25 Td (EVENTS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 191.25 Td (No ) Tj ET Q q 0 0 0 rg BT 64.72 191.25 Td (material ) Tj ET Q q 0 0 0 rg BT 99.98 191.25 Td (events ) Tj ET Q q 0 0 0 rg BT 128.03 191.25 Td (have ) Tj ET Q q 0 0 0 rg BT 149.40 191.25 Td (occurred ) Tj ET Q q 0 0 0 rg BT 186.88 191.25 Td (after ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 207.70 191.25 Td (September30, ) Tj ET Q q 0 0 0 rg BT 267.96 191.25 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.96 191.25 Td ( ) Tj ET Q q 0 0 0 rg BT 290.46 191.25 Td (that ) Tj ET Q q 0 0 0 rg BT 307.95 191.25 Td (require ) Tj ET Q q 0 0 0 rg BT 338.77 191.25 Td (recognition ) Tj ET Q q 0 0 0 rg BT 386.81 191.25 Td (or ) Tj ET Q q 0 0 0 rg BT 397.64 191.25 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 440.69 191.25 Td (in ) Tj ET Q q 0 0 0 rg BT 450.97 191.25 Td (the ) Tj ET Q q 0 0 0 rg BT 465.68 191.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 503.16 191.25 Td (statements.) Tj ET Q endstream endobj 45 0 obj <>] /Rotate 0 /Contents 46 0 R>> endobj 46 0 obj <> stream BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 772.93359375 m 106.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 730.25 Td (ITEM 2 MANAGEMENTS DISCUSSION ) Tj ET Q q 0 0 0 rg BT 244.19 730.25 Td (AND ) Tj ET Q q 0 0 0 rg BT 267.81 730.25 Td (ANAL) Tj ET Q q 0 0 0 rg BT 295.22 730.25 Td (YSIS OF) Tj ET Q q 0 0 0 rg BT 333.48 730.25 Td ( FINANCIAL) Tj ET Q q 0 0 0 rg BT 392.09 730.25 Td ( CONDITION ) Tj ET Q q 0 0 0 rg BT 455.44 730.25 Td (AND RESUL) Tj ET Q q 0 0 0 rg BT 512.03 730.25 Td (TS OF) Tj ET Q q 0 0 0 rg BT 540.28 730.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 718.25 Td (OPERA) Tj ET Q q 0 0 0 rg BT 84.26 718.25 Td (TIONS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 694.25 Td (Special ) Tj ET Q q 0 0 0 rg BT 83.06 694.25 Td (Note ) Tj ET Q q 0 0 0 rg BT 105.55 694.25 Td (Regarding ) Tj ET Q q 0 0 0 rg BT 153.05 694.25 Td (Forward-Looking ) Tj ET Q q 0 0 0 rg BT 232.22 694.25 Td (Information) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 670.25 Td (The following discussion and analysis is provided to increase the understanding of, and should be read in conjunction ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.25 Td (with, our consolidated financial statements and related notes included elsewhere in this report. Historical results and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.25 Td (percentage relationships among any amounts in these financial statements are not necessarily indicative of trends in operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.25 Td (results for any future period. ) Tj ET Q q 0 0 0 rg BT 168.95 634.25 Td (This report contains forward-looking statements. ) Tj ET Q q 0 0 0 rg BT 377.88 634.25 Td (The statements, which are not historical facts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.25 Td (contained in this report, including this Management's Discussion and ) Tj ET Q q 0 0 0 rg BT 327.87 622.25 Td (Analysis of Financial Condition and Results of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.25 Td (Operations, and notes to our consolidated financial statements, particularly those that utilize terminology such as may will, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.25 Td (should, expects, anticipates, estimates, believes, or plans or comparable terminology are forward-looking ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.25 Td (statements. Such statements are based on currently available operating, financial and competitive information, and are subject ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.25 Td (to various risks and uncertainties. Future events and our actual results may dif) Tj ET Q q 0 0 0 rg BT 361.68 574.25 Td (fer materially from the results reflected in these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.25 Td (forward-looking statements. Factors that might cause such a dif) Tj ET Q q 0 0 0 rg BT 303.92 562.25 Td (ference include, but are not limited to, our ability to raise ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.25 Td (additional funding, our ability to maintain and grow our business, variability of operating results, our ability to maintain and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.25 Td (enhance our brand, our development and introduction of new products and services, the successful integration of acquired ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.25 Td (companies, technologies and assets into our portfolio of software and services, marketing and other business development ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.25 Td (initiatives, competition in the industry) Tj ET Q q 0 0 0 rg BT 201.83 514.25 Td (, general government regulation, economic conditions, dependence on key personnel, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.25 Td (ability to attract, hire and retain personnel who possess the technical skills and experience necessary to meet the service ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.25 Td (requirements of our clients, our ability to protect our intellectual property) Tj ET Q q 0 0 0 rg BT 342.87 490.25 Td (, the potential liability with respect to actions taken by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.25 Td (our existing and past employees, risks associated with international sales, and other risks described herein and in our other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.25 Td (filings with the SEC.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 442.25 Td (All forward-looking statements in this document are based on information currently available to us as of the date of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.25 Td (this report, and we assume no obligation to update any forward-looking statements, except as required by law) Tj ET Q q 0 0 0 rg BT 487.56 430.25 Td (.Forward-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.25 Td (looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to dif) Tj ET Q q 0 0 0 rg BT 546.64 418.25 Td (fer ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.25 Td (materially from any future results, performance or achievements expressed or implied by such forward-looking statements.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 382.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 94.17 382.25 Td (History) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.25 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 358.25 Td (IZEA, Inc. was founded in February 2006 under the name PayPerPost, Inc. and became a public company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.25 Td (incorporated in the state of Nevada in May 201) Tj ET Q q 0 0 0 rg BT 238.46 346.25 Td (1. ) Tj ET Q q 0 0 0 rg BT 250.78 346.25 Td (W) Tj ET Q q 0 0 0 rg BT 259.41 346.25 Td (e are headquartered in Orlando, Florida with additional of) Tj ET Q q 0 0 0 rg BT 490.54 346.25 Td (fices in Chicago ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.25 Td (and Los ) Tj ET Q q 0 0 0 rg BT 83.89 334.25 Td (Angeles.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 310.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 94.17 310.25 Td (Overview) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 286.25 Td (IZEA, Inc. is a leading company in the social sponsorship space. ) Tj ET Q q 0 0 0 rg BT 349.36 286.25 Td (W) Tj ET Q q 0 0 0 rg BT 358.00 286.25 Td (e believe that we pioneered the concept of a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.25 Td (marketplace for sponsorships on the social web in 2006 with the launch of our first platform, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 423.53 274.25 Td (PayPerPost.com) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.45 274.25 Td (, and have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.25 Td (focused on scaling our of) Tj ET Q q 0 0 0 rg BT 150.90 262.25 Td (ferings ever since. ) Tj ET Q q 0 0 0 rg BT 228.75 262.25 Td (W) Tj ET Q q 0 0 0 rg BT 237.38 262.25 Td (e democratize the sponsorship process, allowing everyone from college students ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.25 Td (and stay at home moms to celebrities the opportunity to monetize their content, creativity and influence in social media. ) Tj ET Q q 0 0 0 rg BT 534.12 250.25 Td (W) Tj ET Q q 0 0 0 rg BT 542.76 250.25 Td (e ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.25 Td (direct bloggers, tweeters and other types of social media content creators to share information about companies, products, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.25 Td (websites and events within their social media content streams. ) Tj ET Q q 0 0 0 rg BT 300.49 226.25 Td (Advertisers benefit from buzz, traf) Tj ET Q q 0 0 0 rg BT 438.87 226.25 Td (fic, awareness and sales, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.25 Td (creators earn cash compensation in exchange for their posts.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.25 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 190.25 Td (On January 30, 2015, we purchased all of the outstanding shares of capital stock of Ebyline, Inc. \(Ebyline\), pursuant ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.25 Td (to the terms of a Stock Purchase ) Tj ET Q q 0 0 0 rg BT 180.81 178.25 Td (Agreement, dated as of January 27, 2015, by and among IZEA, Ebyline and the stockholders ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.25 Td (of Ebyline. Based in Los ) Tj ET Q q 0 0 0 rg BT 151.10 166.25 Td (Angeles, California, Ebyline operates an online marketplace that enables publishers to access a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.25 Td (network of over 12,000 content creators ranging from writers to illustrators in 73 countries. Over 2,000 fully vetted individuals ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.25 Td (in the Ebyline network have professional journalism credentials with backgrounds at well-known media outlets. Ebyline) Tj ET Q q 0 0 0 rg BT 536.55 142.25 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.25 Td (proprietary workflow is utilized by leading media or) Tj ET Q q 0 0 0 rg BT 259.48 130.25 Td (ganizations to obtain the content they need from professional content ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.25 Td (creators. In addition to publishers, Ebyline is leveraged by brands to produce custom branded content for use on their owned ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.25 Td (and operated sites, as well as third party content marketing and native advertising ef) Tj ET Q q 0 0 0 rg BT 385.82 106.25 Td (forts. ) Tj ET Q q 0 0 0 rg BT 411.10 106.25 Td (As described herein, our acquisition ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.25 Td (of Ebyline has significantly contributed to the increase in our revenues and cost of sales during 2015 as compared to 2014.) 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1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 273.6 m 343.5 273.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 275.6 m 347.5 275.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 273.6 m 347.5 273.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347.5 275.6 m 424.5 275.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347.5 273.6 m 424.5 273.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 275.6 m 428.5 275.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 273.6 m 428.5 273.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 275.6 m 493.5 275.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 273.6 m 493.5 273.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 275.6 m 497.5 275.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 273.6 m 497.5 273.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 275.6 m 562.5 275.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 273.6 m 562.5 273.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.80 542.17 Td (\(Unaudited\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.75 528.27 Td (Three Months Ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.60 514.17 Td (September 30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.50 504.17 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.60 514.17 Td (September 30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.50 504.17 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.45 504.27 Td ($ Change) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.80 504.27 Td (% Change) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 489.27 Td (Revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.00 489.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.65 489.27 Td (5,442,457) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.00 489.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.65 489.27 Td (1,931,671) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 489.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.65 489.27 Td (3,510,786) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 489.27 Td (181.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 489.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 474.27 Td (Cost of sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.65 474.27 Td (3,290,457) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.15 474.27 Td (692,217) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.65 474.27 Td (2,598,240) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 474.27 Td (375.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 474.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 459.27 Td (Gross profit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.65 459.27 Td (2,152,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.65 459.27 Td (1,239,454) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 459.27 Td (912,546) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 459.27 Td (73.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 459.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 444.27 Td (Operating expenses:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.00 444.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.00 444.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 429.27 Td (General and administrative) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.65 429.27 Td (1,056,473) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.65 429.27 Td (1,287,048) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.80 429.32 Td (\(230,575) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 429.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.45 429.27 Td (\(17.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 429.27 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 414.27 Td (Sales and marketing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.65 414.27 Td (1,982,088) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.65 414.27 Td (1,515,139) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 414.27 Td (466,949) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 414.27 Td (30.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 414.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 399.27 Td (Total operating expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.65 399.27 Td (3,038,561) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.65 399.27 Td (2,802,187) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 399.27 Td (236,374) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.80 399.27 Td (8.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 399.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 384.27 Td (Loss from operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.80 384.32 Td (\(886,561) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 384.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.30 384.32 Td (\(1,562,733) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.65 384.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 384.27 Td (676,172) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 384.27 Td (43.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 384.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 369.27 Td (Other income \(expense\):) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.00 369.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.00 369.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 354.27 Td (Interest expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.80 354.32 Td (\(31,191) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 354.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.80 354.32 Td (\(5,519) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.65 354.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.80 354.32 Td (\(25,672) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 354.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 354.27 Td (465.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 354.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 339.27 Td (Loss on exchange of warrants) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.30 339.32 Td (\(1,845,810) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 339.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.65 339.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.30 339.32 Td (\(1,845,810) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 339.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 339.27 Td (100.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 339.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 324.27 Td (Change in fair value of derivatives, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.15 324.27 Td (115,904) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.65 324.27 Td (2,250,344) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.30 324.32 Td (\(2,134,440) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 324.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.45 324.27 Td (\(94.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 324.27 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 309.27 Td (Other income, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.15 309.27 Td (2,571) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.15 309.27 Td (3,278) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.30 309.32 Td (\(707) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 309.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.45 309.27 Td (\(21.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 309.27 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 294.27 Td (Total other income \(expense\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.30 294.32 Td (\(1,758,526) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 294.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.65 294.27 Td (2,248,103) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.30 294.32 Td (\(4,006,629) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 294.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 294.27 Td (178.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 294.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 279.27 Td (Net income \(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.00 279.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.30 279.32 Td (\(2,645,087) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 279.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.00 279.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.15 279.27 Td (685,370) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 279.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.30 279.32 Td (\(3,330,457) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 279.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 279.27 Td (485.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 279.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 251.10 Td (Non-GAAP) Tj ET Q q 0 0 0 rg BT 98.89 251.10 Td ( Financial Measur) Tj ET Q q 0 0 0 rg BT 176.48 251.10 Td (es) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 227.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 227.10 Td (T) Tj ET Q q 0 0 0 rg BT 91.41 227.10 Td (o supplement our consolidated financial statements presented in accordance with generally accepted accounting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 215.10 Td (principles in the United States \("U.S. GAAP"\), we consider certain financial measures that are not prepared in accordance with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 203.10 Td (U.S. GAAP) Tj ET Q q 0 0 0 rg BT 96.40 203.10 Td (, including Operating EBITDA. ) Tj ET Q q 0 0 0 rg BT 225.64 203.10 Td (These non-GAAP) Tj ET Q q 0 0 0 rg BT 297.20 203.10 Td ( financial measures are not based on any standardized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 191.10 Td (methodology prescribed by GAAP) Tj ET Q q 0 0 0 rg BT 188.04 191.10 Td (. ) Tj ET Q q 0 0 0 rg BT 192.86 191.10 Td (These non-GAAP) Tj ET Q q 0 0 0 rg BT 264.42 191.10 Td ( financial measures should not be considered in isolation from, or as a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 179.10 Td (substitute for) Tj ET Q q 0 0 0 rg BT 102.09 179.10 Td (, financial information prepared in accordance with GAAP) Tj ET Q q 0 0 0 rg BT 335.90 179.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 155.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 155.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 155.10 Td (e believe that Operating EBITDA) Tj ET Q q 0 0 0 rg BT 229.04 155.10 Td ( provides useful information to investors as it excludes transactions not related to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 143.10 Td (the core cash operating business activities including non-cash transactions. ) Tj ET Q q 0 0 0 rg BT 353.90 143.10 Td (W) Tj ET Q q 0 0 0 rg BT 362.54 143.10 Td (e believe that excluding these transactions allows ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 131.10 Td (investors to meaningfully trend and analyze the performance of our core cash operations. ) Tj ET Q q 0 0 0 rg BT 408.20 131.10 Td (All companies do not calculate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 119.10 Td (EBITDA) Tj ET Q q 0 0 0 rg BT 86.11 119.10 Td ( in the same manner) Tj ET Q q 0 0 0 rg BT 166.24 119.10 Td (, and Operating EBITDA) Tj ET Q q 0 0 0 rg BT 266.77 119.10 Td ( as presented by IZEA) Tj ET Q q 0 0 0 rg BT 355.63 119.10 Td ( may not be comparable to EBITDA) Tj ET Q q 0 0 0 rg BT 500.59 119.10 Td ( presented by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 107.10 Td (other companies. IZEA) Tj ET Q q 0 0 0 rg BT 143.03 107.10 Td ( defines Operating EBITDA) Tj ET Q q 0 0 0 rg BT 255.50 107.10 Td ( as earnings or loss before interest, taxes, depreciation and amortization, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 95.10 Td (non-cash stock related compensation, gain or loss on asset disposals, changes in contingent acquisition costs, or impairment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 83.10 Td (and all other income and expense items such as loss on exchanges and changes in fair value of derivatives, if applicable.) Tj ET Q endstream endobj 49 0 obj <>] /Rotate 0 /Contents 50 0 R>> endobj 50 0 obj <> stream BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 772.93359375 m 106.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (22) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 694.50 378.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 694.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 694.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 694.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 664.50 378.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 664.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 664.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 664.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 634.50 378.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 634.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 634.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 634.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 604.50 378.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 604.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 604.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 604.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 574.50 378.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 574.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 574.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 574.50 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 718.5 m 493.5 718.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 718.5 m 497.5 718.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 718.5 m 562.5 718.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 694.5 m 428.5 694.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 694.5 m 493.5 694.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 694.5 m 497.5 694.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 694.5 m 562.5 694.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 694.5 m 428.5 694.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 694.5 m 493.5 694.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 694.5 m 497.5 694.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 694.5 m 562.5 694.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 559.5 m 493.5 559.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 559.5 m 497.5 559.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 559.5 m 562.5 559.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 559.5 m 428.5 559.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 545.5 m 428.5 545.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 543.5 m 428.5 543.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 559.5 m 493.5 559.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 545.5 m 493.5 545.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 543.5 m 493.5 543.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 559.5 m 497.5 559.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 545.5 m 497.5 545.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 543.5 m 497.5 543.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 559.5 m 562.5 559.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 545.5 m 562.5 545.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 543.5 m 562.5 543.5 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 738.18 Td (Reconciliation of Net Loss to Operating EBITDA:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.80 738.17 Td (\(Unaudited\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.75 723.17 Td (Three Months Ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.60 709.07 Td (September 30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.50 699.07 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.60 709.07 Td (September 30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.50 699.07 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 684.17 Td (Net income \(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 684.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.30 684.22 Td (\(2,645,087) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 684.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 684.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 684.17 Td (685,370) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 669.17 Td (Non-cash stock-based compensation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 669.17 Td (188,458) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 669.17 Td (142,252) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 654.17 Td (Non-cash stock issued for payment of services) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 654.17 Td (31,251) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 654.17 Td (18,750) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 639.17 Td (Change in the fair value of derivatives) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.80 639.22 Td (\(115,904) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 639.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.30 639.22 Td (\(2,250,344) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 639.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 624.17 Td (Loss on exchange of warrants) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.65 624.17 Td (1,845,810) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 624.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 609.17 Td (Loss on disposal of equipment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 609.17 Td (595) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 609.17 Td (16,593) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 594.17 Td (Gain on change in value of contingent acquisition costs payable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.30 594.22 Td (\(1,734,300) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 594.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 594.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 579.17 Td (Interest expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 579.17 Td (31,191) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 579.17 Td (5,519) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 564.17 Td (Depreciation & amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 564.17 Td (230,553) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 564.17 Td (72,309) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 549.17 Td (Operating EBITDA) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 549.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.30 549.22 Td (\(2,167,433) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 549.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 549.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.30 549.22 Td (\(1,309,551) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 549.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 509.00 Td (Revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 485.00 Td (The following table breaks down our approximate revenue, cost of sales and gross profit by revenue stream as of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.47 485.00 Td (three ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 473.00 Td (months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.45 473.00 Td ( ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.33 473.00 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.59 473.00 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.03 473.00 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.03 473.00 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 422.50 237.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 422.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 422.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 422.50 15.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 422.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 422.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 392.50 237.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 392.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 392.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 392.50 15.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 392.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 392.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 362.50 237.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 362.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 362.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 362.50 15.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 362.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 362.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 332.50 237.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 332.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 332.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 332.50 15.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 332.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 332.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 302.50 237.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 302.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 302.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 302.50 15.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 302.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 302.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 272.50 237.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 272.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 272.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 272.50 15.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 272.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 272.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 242.50 237.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 242.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 242.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 242.50 15.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 242.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 242.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 212.50 237.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 212.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 212.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 212.50 15.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 212.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 212.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 182.50 237.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 182.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 182.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 182.50 15.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 182.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 182.50 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 286.5 447.5 m 351.5 447.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 447.5 m 431.5 447.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 286.5 447.5 m 351.5 447.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 286.5 422.5 m 351.5 422.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 447.5 m 416.5 447.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 422.5 m 416.5 422.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 447.5 m 431.5 447.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 422.5 m 431.5 422.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 447.5 m 496.5 447.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 422.5 m 496.5 422.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 447.5 m 561.5 447.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 422.5 m 561.5 422.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286.5 362.5 m 351.5 362.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 362.5 m 416.5 362.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 362.5 m 431.5 362.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 362.5 m 496.5 362.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 362.5 m 561.5 362.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286.5 362.5 m 351.5 362.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286.5 348.5 m 351.5 348.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286.5 346.5 m 351.5 346.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 362.5 m 416.5 362.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 348.5 m 416.5 348.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 346.5 m 416.5 346.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 362.5 m 431.5 362.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 348.5 m 431.5 348.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 346.5 m 431.5 346.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 362.5 m 496.5 362.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 348.5 m 496.5 348.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 346.5 m 496.5 346.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 362.5 m 561.5 362.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 348.5 m 561.5 348.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 346.5 m 561.5 346.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286.5 272.5 m 351.5 272.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 272.5 m 416.5 272.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 272.5 m 431.5 272.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 272.5 m 496.5 272.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 272.5 m 561.5 272.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286.5 272.5 m 351.5 272.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286.5 258.5 m 351.5 258.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286.5 256.5 m 351.5 256.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 272.5 m 416.5 272.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 258.5 m 416.5 258.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 256.5 m 416.5 256.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 272.5 m 431.5 272.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 258.5 m 431.5 258.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 256.5 m 431.5 256.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 272.5 m 496.5 272.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 258.5 m 496.5 258.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 256.5 m 496.5 256.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 272.5 m 561.5 272.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 258.5 m 561.5 258.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 256.5 m 561.5 256.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 182.5 m 416.5 182.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 182.5 m 561.5 182.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286.5 182.5 m 351.5 182.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286.5 168.5 m 351.5 168.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286.5 166.5 m 351.5 166.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 182.5 m 416.5 182.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 168.5 m 416.5 168.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 166.5 m 416.5 166.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 182.5 m 431.5 182.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 168.5 m 431.5 168.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 166.5 m 431.5 166.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 182.5 m 496.5 182.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 168.5 m 496.5 168.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 166.5 m 496.5 166.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 182.5 m 561.5 182.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 168.5 m 561.5 168.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 166.5 m 561.5 166.5 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.25 452.17 Td (Three Months Ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.60 437.17 Td (September 30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.50 427.17 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.60 437.17 Td (September 30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.50 427.17 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.60 437.17 Td (September 30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.50 427.17 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.60 437.17 Td (September 30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.50 427.17 Td (2014) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 52 410.61259765625 m 147 410.61259765625 l s q 0 0 0 rg BT 52.00 412.18 Td (Revenue & % of Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 397.17 Td (Sponsored Revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.00 397.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.65 397.17 Td (3,232,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 397.17 Td (59) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.65 397.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.00 397.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 397.17 Td (1,787,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 397.17 Td (92) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 397.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 382.17 Td (Content Revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.00 382.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.65 382.17 Td (2,166,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 382.17 Td (40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.65 382.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.00 382.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 382.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 382.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 382.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 367.17 Td (Service Fees & Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.00 367.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.15 367.17 Td (45,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.65 367.17 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.65 367.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.00 367.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.15 367.17 Td (145,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 367.17 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 367.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 352.17 Td (Total Revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.00 352.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.65 352.17 Td (5,443,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.65 352.17 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.65 352.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.00 352.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 352.17 Td (1,932,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.65 352.17 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 352.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 52 320.61259765625 m 164.783203125 320.61259765625 l s q 0 0 0 rg BT 52.00 322.18 Td (Cost of Sales & % of Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 307.17 Td (Sponsored Revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.00 307.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.65 307.17 Td (1,361,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 307.17 Td (41) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.65 307.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.00 307.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.15 307.17 Td (692,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.65 307.17 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 307.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 292.17 Td (Content Revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.00 292.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.65 292.17 Td (1,930,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 292.17 Td (59) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.65 292.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.00 292.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 292.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 292.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 292.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 277.17 Td (Service Fees & Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.00 277.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.65 277.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 277.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.65 277.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.00 277.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 277.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 277.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 277.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 262.17 Td (Total Cost of Sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.00 262.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.65 262.17 Td (3,291,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.65 262.17 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.65 262.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.00 262.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.15 262.17 Td (692,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.65 262.17 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 262.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 52 230.61259765625005 m 154.7587890625 230.61259765625005 l s q 0 0 0 rg BT 52.00 232.18 Td (Gross Profit & Profit %) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 217.17 Td (Sponsored Revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.00 217.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.65 217.17 Td (1,871,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 217.17 Td (58) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.65 217.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.00 217.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 217.17 Td (1,095,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 217.17 Td (61) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 217.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 202.17 Td (Content Revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.00 202.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.15 202.17 Td (236,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 202.17 Td (11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.65 202.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.00 202.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 202.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 202.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 202.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 187.17 Td (Service Fees & Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.00 187.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.15 187.17 Td (45,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.65 187.17 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.65 187.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.00 187.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.15 187.17 Td (145,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.65 187.17 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 187.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 172.17 Td (Total Profit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.00 172.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.65 172.17 Td (2,152,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 172.17 Td (40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.65 172.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.00 172.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 172.17 Td (1,240,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 172.17 Td (64) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 172.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 156.00 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 144.00 Td (Revenues for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 156.25 144.00 Td (three months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.19 144.00 Td ( ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.06 144.00 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.33 144.00 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.83 144.00 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.58 144.00 Td ( by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.58 144.00 Td ($3,510,786) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.58 144.00 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.41 144.00 Td (182%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.74 144.00 Td (, compared to the same ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 132.00 Td (period in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.33 132.00 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.33 132.00 Td (.) Tj ET Q q 0 0 0 rg BT 113.14 132.00 Td (The increase was primarily attributable to increases in our Sponsored Revenue of $1,445,000 and Content ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 120.00 Td (Revenue of $2,166,000 during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.14 120.00 Td (three months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.07 120.00 Td ( ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.95 120.00 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.21 120.00 Td ( compared to the same period in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.01 120.00 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.01 120.00 Td (. Our sales ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 108.00 Td (mix has changed in the current year due to the acquisition of Ebyline in January 2015. ) Tj ET Q q 0 0 0 rg BT 399.17 108.00 Td (The increase in Sponsored Revenue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 96.00 Td (income was primarily attributable to our lar) Tj ET Q q 0 0 0 rg BT 224.21 96.00 Td (ger sales force, concentrated sales ef) Tj ET Q q 0 0 0 rg BT 370.06 96.00 Td (forts toward lar) Tj ET Q q 0 0 0 rg BT 431.52 96.00 Td (ger IZEA) Tj ET Q q 0 0 0 rg BT 469.01 96.00 Td ( managed campaigns ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 84.00 Td (rather than smaller advertiser self-service campaigns and generating repeat business from existing customers. Content Revenue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 72.00 Td (increased as a result of the Ebyline acquisition in January 2015. Service fees decreased in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.64 72.00 Td (three months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.58 72.00 Td ( ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 60.00 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.26 60.00 Td ( due to less fees received from inactive accounts since there are relatively few inactive accounts in ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 525.92 60.00 Td (IZEAx) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 551.46 60.00 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 48.00 Td ( ) Tj ET Q endstream endobj 51 0 obj <>] /Rotate 0 /Contents 52 0 R>> endobj 52 0 obj <> stream BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 772.93359375 m 106.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 742.10 Td (Our net bookings of $6.7 million for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.04 742.10 Td (three months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.97 742.10 Td ( ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.85 742.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.11 742.10 Td ( were over 230% higher than the net ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (bookings of $2.0 million for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 180.27 730.10 Td (three months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.20 730.10 Td ( ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.08 730.10 Td (September30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.34 730.10 Td (. Net bookings is a measure of sales orders minus any ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (cancellations or refunds in a given period. Management uses net bookings as a leading indicator of future revenue recognition ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (as revenue is typically recognized within 90 days of booking. ) Tj ET Q q 0 0 0 rg BT 300.31 706.10 Td (W) Tj ET Q q 0 0 0 rg BT 308.95 706.10 Td (e experienced higher bookings as a result of the Ebyline ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (acquisition, new customers, lar) Tj ET Q q 0 0 0 rg BT 173.96 694.10 Td (ger IZEA) Tj ET Q q 0 0 0 rg BT 211.44 694.10 Td ( managed campaigns and an increase in repeat clients. ) Tj ET Q q 0 0 0 rg BT 432.55 694.10 Td (These bookings are expected to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (translate into higher revenue in 2015 as compared to 2014.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (Cost ) Tj ET Q q 0 0 0 rg BT 71.94 658.10 Td (of ) Tj ET Q q 0 0 0 rg BT 82.77 658.10 Td (Sales ) Tj ET Q q 0 0 0 rg BT 106.94 658.10 Td (and ) Tj ET Q q 0 0 0 rg BT 125.57 658.10 Td (Gr) Tj ET Q q 0 0 0 rg BT 137.60 658.10 Td (oss ) Tj ET Q q 0 0 0 rg BT 152.89 658.10 Td (Pr) Tj ET Q q 0 0 0 rg BT 163.25 658.10 Td (ofit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 634.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 103.48 634.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 121.52 634.10 Td (of ) Tj ET Q q 0 0 0 rg BT 131.78 634.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 153.15 634.10 Td (is ) Tj ET Q q 0 0 0 rg BT 161.75 634.10 Td (comprised ) Tj ET Q q 0 0 0 rg BT 205.34 634.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 244.48 634.10 Td (of ) Tj ET Q q 0 0 0 rg BT 254.75 634.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 290.56 634.10 Td (paid ) Tj ET Q q 0 0 0 rg BT 309.71 634.10 Td (to ) Tj ET Q q 0 0 0 rg BT 319.42 634.10 Td (our ) Tj ET Q q 0 0 0 rg BT 334.68 634.10 Td (content ) Tj ET Q q 0 0 0 rg BT 366.05 634.10 Td (creators ) Tj ET Q q 0 0 0 rg BT 399.62 634.10 Td (to ) Tj ET Q q 0 0 0 rg BT 409.33 634.10 Td (provide ) Tj ET Q q 0 0 0 rg BT 441.81 634.10 Td (content ) Tj ET Q q 0 0 0 rg BT 473.18 634.10 Td (or ) Tj ET Q q 0 0 0 rg BT 483.44 634.10 Td (advertising ) Tj ET Q q 0 0 0 rg BT 529.80 634.10 Td (services ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (through ) Tj ET Q q 0 0 0 rg BT 83.61 622.10 Td (the ) Tj ET Q q 0 0 0 rg BT 98.33 622.10 Td (pushing ) Tj ET Q q 0 0 0 rg BT 132.50 622.10 Td (of ) Tj ET Q q 0 0 0 rg BT 143.33 622.10 Td (sponsored ) Tj ET Q q 0 0 0 rg BT 186.38 622.10 Td (content ) Tj ET Q q 0 0 0 rg BT 218.31 622.10 Td (through ) Tj ET Q q 0 0 0 rg BT 251.92 622.10 Td (a ) Tj ET Q q 0 0 0 rg BT 258.86 622.10 Td (blog ) Tj ET Q q 0 0 0 rg BT 279.14 622.10 Td (post, ) Tj ET Q q 0 0 0 rg BT 300.81 622.10 Td (tweet, ) Tj ET Q q 0 0 0 rg BT 327.46 622.10 Td (click ) Tj ET Q q 0 0 0 rg BT 349.39 622.10 Td (or ) Tj ET Q q 0 0 0 rg BT 360.22 622.10 Td (action.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 598.10 Td (Cost of sales for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 168.49 598.10 Td (three months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 220.42 598.10 Td ( ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.30 598.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.56 598.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.06 598.10 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.81 598.10 Td ( by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.81 598.10 Td ($2,598,240) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.81 598.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.64 598.10 Td (375%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.97 598.10 Td (, compared to the same ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (period in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.33 586.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.33 586.10 Td (.) Tj ET Q q 0 0 0 rg BT 115.64 586.10 Td (The increase in cost of sales was primarily related to the increase in our sales and higher cost on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.46 586.10 Td (40%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.79 586.10 Td ( of those ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (sales related to Content Revenue. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 550.10 Td (Gross profit for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 165.43 550.10 Td (three months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.36 550.10 Td ( ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.24 550.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.50 550.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.00 550.10 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.76 550.10 Td ( by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.76 550.10 Td ($912,546) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.26 550.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.09 550.10 Td (74%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.42 550.10 Td (, compared to the same ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (period in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.33 538.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.33 538.10 Td (. Our grossprofit as a percentage of revenue decreased from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.60 538.10 Td (64%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.93 538.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.31 538.10 Td (three months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.25 538.10 Td ( ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.12 538.10 Td (September30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 526.10 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.78 526.10 Td (40%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.11 526.10 Td ( for the same period in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.86 526.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 213.86 526.10 Td (. ) Tj ET Q q 0 0 0 rg BT 223.68 526.10 Td (The gross profit decrease during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.29 526.10 Td (three months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.23 526.10 Td ( ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.10 526.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.37 526.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (compared to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 102.20 514.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.20 514.10 Td ( was primarily attributable to substantially lower profit mar) Tj ET Q q 0 0 0 rg BT 359.18 514.10 Td (gins on Content Revenue that was added to our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (product mix during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.43 502.10 Td (three months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.36 502.10 Td ( ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.24 502.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.50 502.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 478.10 Td (During the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.55 478.10 Td (three months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.48 478.10 Td ( ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.36 478.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.62 478.10 Td (, we generated a gross profit of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.24 478.10 Td (1) Tj ET Q q 0 0 0 rg BT 423.87 478.10 Td (1%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.20 478.10 Td ( on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.20 478.10 Td (40%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.53 478.10 Td ( of our total revenue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (related to sales of Content. Prior to being acquired by IZEA, Ebyline generated Content Revenue primarily from newspaper ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (and traditional publishers through their workflow platform on a self-service basis at a 7%-9% profit. ) Tj ET Q q 0 0 0 rg BT 458.23 454.10 Td (After the acquisition, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (these customers still produce a significant amount of revenue, but we are increasing the sales of Content to customers on a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (managed basis and expect to see continued improvement in the Content mar) Tj ET Q q 0 0 0 rg BT 354.45 430.10 Td (gins. ) Tj ET Q q 0 0 0 rg BT 378.44 430.10 Td (The mix of sales between our higher mar) Tj ET Q q 0 0 0 rg BT 542.37 430.10 Td (gin ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (Sponsored Revenue and our lower mar) Tj ET Q q 0 0 0 rg BT 205.61 418.10 Td (gin Content Revenue \(particularly the self-service workflow portion of this revenue\) has ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (a significant af) Tj ET Q q 0 0 0 rg BT 109.24 406.10 Td (fect on our overall gross profit percentage. ) Tj ET Q q 0 0 0 rg BT 283.90 406.10 Td (As a result of the changes in our sales mix, we expect that our total ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (revenue will increase but our mar) Tj ET Q q 0 0 0 rg BT 183.93 394.10 Td (gins will decrease to an expected range of 35%-40%. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (Operating ) Tj ET Q q 0 0 0 rg BT 96.39 370.10 Td (Expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 346.10 Td (Operating expenses consist of general and administrative expenses, contingent acquisition cost adjustments and sales ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (and marketing expenses.) Tj ET Q q 0 0 0 rg BT 153.40 334.10 Td (T) Tj ET Q q 0 0 0 rg BT 158.81 334.10 Td (otal operating expenses for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.04 334.10 Td (three months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.98 334.10 Td ( ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.85 334.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.12 334.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.62 334.10 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.37 334.10 Td ( by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.37 334.10 Td ($236,374) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.87 334.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (8.4%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.83 322.10 Td (, compared to the same period in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.12 322.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.12 322.10 Td (. ) Tj ET Q q 0 0 0 rg BT 231.44 322.10 Td (The increase was primarily attributable to increased personnel costs and additional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (overhead from the Ebyline acquisition.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 286.10 Td (General and administrative expenses consist primarily of administrative and engineering personnel costs, general ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (operating costs, public company costs, including non-cash stock compensation, facilities costs, insurance, depreciation, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (professional fees,and investor relations costs. General and administrative expenses for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.83 262.10 Td (three months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.76 262.10 Td ( ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.64 262.10 Td (September30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 250.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 250.10 Td (decreased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.91 250.10 Td ( by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 126.91 250.10 Td ($\(230,575\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.07 250.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.90 250.10 Td (\(17.9\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.39 250.10 Td (, compared to the same period in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.69 250.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.69 250.10 Td (. General and administrative expenses ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (increased due to a $568,000 increase in personnel costs as a result of the increase in the average number of our administrative ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (and engineering personnel by nearly 50% since the prior year period. ) Tj ET Q q 0 0 0 rg BT 330.74 226.10 Td (Additionally contributing to the increase in personnel ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (costs, there was an increase in bonus expenses as a result of a $200,000 one-time discretionary bonus award to our chief ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (executive of) Tj ET Q q 0 0 0 rg BT 98.96 202.10 Td (ficer in in the third quarter of 2015. Increased personnel costs are expected to continue in 2015 due to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (realization of an entire year of salaries, taxes and benefits for the new personnel hires in late 2014 and early 2015 along with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (planned increases in the total number of entry and higher level engineering personnel. ) Tj ET Q q 0 0 0 rg BT 398.31 178.10 Td (The increase in general and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.10 Td (administrative expenses is also attributable to a $496,000 increase in legal & litigation fees primarily for the active defense and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.10 Td (settlement costs in our patent ligation with Blue Calypso. On ) Tj ET Q q 0 0 0 rg BT 298.31 154.10 Td (August 17, 2015, we entered into a $390,506 settlement ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (agreement with Blue Calypso ending all outstanding patent litigation. ) Tj ET Q q 0 0 0 rg BT 332.82 142.10 Td (Therefore, we expect that future legal fees will decrease ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.10 Td (substantially compared to prior quarters. ) Tj ET Q q 0 0 0 rg BT 214.22 130.10 Td (W) Tj ET Q q 0 0 0 rg BT 222.86 130.10 Td (e also had a $158,000 increase in depreciation and amortization expense as a result ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.10 Td (of the amortization of software development costs for ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 267.15 118.10 Td (IZEA) Tj ET Q q 0 0 0 rg BT 288.08 118.10 Td ( Exchange) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.00 118.10 Td ( \() Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 335.83 118.10 Td (IZEAx) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.38 118.10 Td (\) and the Ebyline intangible assets acquired; a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.10 Td ($52,000 increase in public company costs due to the addition of additional board members and investor relations services, a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.10 Td ($46,000 increase in stock compensation, and a $54,000 increase in rent for our expanded facilities and additional of) Tj ET Q q 0 0 0 rg BT 512.45 94.10 Td (fices in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.10 Td (California.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 58.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 58.10 Td (General and administrative expense increases were reduced by a gain of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.70 58.10 Td ($1,734,300) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.70 58.10 Td ( during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.81 58.10 Td (three months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.75 58.10 Td ( ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 46.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.26 46.10 Td ( due to the reduction in our estimated fair value of contingent acquisition costs payable. On January 30, ) Tj ET Q endstream endobj 53 0 obj <>] /Rotate 0 /Contents 54 0 R>> endobj 54 0 obj <> stream BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 772.93359375 m 106.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (24) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (2015, we purchased all of the outstanding shares of capital stock of Ebyline, pursuant to the terms of a Stock Purchase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (Agreement, dated as of January 27, 2015, by and among IZEA, Ebyline and the stockholders of Ebyline. ) Tj ET Q q 0 0 0 rg BT 473.32 730.10 Td (The aggregate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (consideration payable by us will be an amount in the aggregate of up to $8,850,000, including a cash payment at closing of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td ($1,200,000, a stock issuance valued at $250,000 paid on July 30, 2015, $1,877,064 in two equal installments of $938,532 on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (the first and second anniversaries of the closing, and up to $5,500,000 in contingent performance payments based on Ebyline ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (meeting certain revenue tar) Tj ET Q q 0 0 0 rg BT 158.93 682.10 Td (gets for each of the three years ending December 31, 2015, 2016 and 2017. ) Tj ET Q q 0 0 0 rg BT 464.20 682.10 Td (W) Tj ET Q q 0 0 0 rg BT 472.84 682.10 Td (e initially valued the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (fair value of the contingent payments at $2,210,000 using a Monte-Carlo simulation to simulate revenue over the next three ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (years. Of this amount, $357,700 was determined to be future compensation expense and the $1,834,300 remainder was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (determined to be purchase consideration and recorded as acquisition costs payable. During the three months ended September ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (30, 2015, we reassessed the expected revenues to be produced from Content-Only Revenues over the next three years and do ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (not believe that they will meet the revenue tar) Tj ET Q q 0 0 0 rg BT 233.08 622.10 Td (gets required to achieve the performance payments. ) Tj ET Q q 0 0 0 rg BT 444.20 622.10 Td (The revised calculations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (using the Monte Carlo simulation as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.59 610.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.86 610.10 Td ( resulted in a calculated fair value of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.12 610.10 Td ($100,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.62 610.10 Td (. ) Tj ET Q q 0 0 0 rg BT 481.94 610.10 Td (Therefore, we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (recorded a gain of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 124.96 598.10 Td ($1,734,300) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.96 598.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.34 598.10 Td (three months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 253.27 598.10 Td ( ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.15 598.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.41 598.10 Td ( due to the reduction in our estimated fair value ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (of contingent acquisition costs payable.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 562.10 Td (Sales and marketing expenses consist primarily of costs personnel costs related to those who support sales and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (marketing ef) Tj ET Q q 0 0 0 rg BT 100.63 550.10 Td (forts, promotional and advertising costs and trade show expenses. Sales and marketing expenses for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.91 550.10 Td (three ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.45 538.10 Td ( ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.33 538.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.59 538.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.09 538.10 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.84 538.10 Td ( by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.84 538.10 Td ($466,949) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.34 538.10 Td ( or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.67 538.10 Td (30.8%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.50 538.10 Td (, compared to the same period in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.79 538.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.79 538.10 Td (.) Tj ET Q q 0 0 0 rg BT 481.11 538.10 Td (The increase was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (primarily attributable to the increase in personnel costs as a result of a 24% increase in the number of our sales personnel since ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (the prior year and$146,000 in increased commissions as a result of the increase in customer bookings. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (Other) Tj ET Q q 0 0 0 rg BT 75.37 490.10 Td ( ) Tj ET Q q 0 0 0 rg BT 77.87 490.10 Td (Income ) Tj ET Q q 0 0 0 rg BT 112.03 490.10 Td (\(Expense\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 466.10 Td (Other income \(expense\) consists primarily of interest expense, loss on exchange of warrants and the change in the fair ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (value of derivatives. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 430.10 Td (Interest expense during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.52 430.10 Td (three months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.45 430.10 Td ( ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.33 430.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.59 430.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.09 430.10 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.85 430.10 Td ( by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.85 430.10 Td ($25,672) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.35 430.10 Td ( compared to the same ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (period in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.33 418.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.33 418.10 Td ( primarily due to the imputed interest on the acquisition costs payable.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 394.10 Td (From July 20, 2015 through ) Tj ET Q q 0 0 0 rg BT 199.90 394.10 Td (August 14, 2015, we of) Tj ET Q q 0 0 0 rg BT 293.60 394.10 Td (fered a 25% discount on the warrant exercise prices to investors ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (holding the series ) Tj ET Q q 0 0 0 rg BT 122.49 382.10 Td (A) Tj ET Q q 0 0 0 rg BT 129.16 382.10 Td ( and series B warrants to purchase common stock issued in its ) Tj ET Q q 0 0 0 rg BT 378.56 382.10 Td (August - September 2013 private placement ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (\(the 2013 ) Tj ET Q q 0 0 0 rg BT 94.80 370.10 Td (W) Tj ET Q q 0 0 0 rg BT 103.44 370.10 Td (arrants\) and a 26% discount on the warrant exercise prices to investors holding series ) Tj ET Q q 0 0 0 rg BT 450.56 370.10 Td (A) Tj ET Q q 0 0 0 rg BT 457.23 370.10 Td ( and series B warrants to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (purchase common stock issued in its February 2014 private placement \(the 2014 ) Tj ET Q q 0 0 0 rg BT 378.62 358.10 Td (W) Tj ET Q q 0 0 0 rg BT 387.26 358.10 Td (arrants and together with the 2013 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 346.10 Td (arrants, the "W) Tj ET Q q 0 0 0 rg BT 118.28 346.10 Td (arrants"\). ) Tj ET Q q 0 0 0 rg BT 159.85 346.10 Td (At the close of the of) Tj ET Q q 0 0 0 rg BT 243.81 346.10 Td (fer period on ) Tj ET Q q 0 0 0 rg BT 297.40 346.10 Td (August 14, 2015, ) Tj ET Q q 0 0 0 rg BT 368.61 346.10 Td (W) Tj ET Q q 0 0 0 rg BT 377.25 346.10 Td (arrants for a total of 43,830,802 shares of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (common stock were exercised and converted into common stock at an average exercise price of $0.293 per share for total ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (proceeds of $12,861,057 less $3,972 in transaction costs. ) Tj ET Q q 0 0 0 rg BT 282.84 322.10 Td (The amendment of ) Tj ET Q q 0 0 0 rg BT 360.68 322.10 Td (W) Tj ET Q q 0 0 0 rg BT 369.32 322.10 Td (arrants to reduce the exercise price required the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (Company to treat the adjustment as an exchange whereby it computed the fair value of the ) Tj ET Q q 0 0 0 rg BT 413.58 310.10 Td (W) Tj ET Q q 0 0 0 rg BT 422.22 310.10 Td (arrants immediately prior to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (price reduction and the fair value of the ) Tj ET Q q 0 0 0 rg BT 210.30 298.10 Td (W) Tj ET Q q 0 0 0 rg BT 218.94 298.10 Td (arrants after the price reduction. ) Tj ET Q q 0 0 0 rg BT 351.75 298.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.79 298.10 Td ($1,845,810) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.79 298.10 Td ( change in the fair value of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 286.10 Td (arrants as a result of the price reduction was treated as a loss on exchange and recorded in the consolidated statements of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (operations during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.48 274.10 Td (three months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.41 274.10 Td ( ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 218.29 274.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.55 274.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 250.10 Td (In prior periods, we entered into financing transactions that gave rise to derivative liabilities. ) Tj ET Q q 0 0 0 rg BT 460.98 250.10 Td (These financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (instruments are carried at fair value in our financial statements. Changes in the fair value of derivative financial instruments are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (required to be recorded in other income \(expense\) in the period of change. ) Tj ET Q q 0 0 0 rg BT 351.64 226.10 Td (W) Tj ET Q q 0 0 0 rg BT 360.28 226.10 Td (e recorded a gain of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.18 226.10 Td ($1) Tj ET Q q 0 0 0 rg BT 451.81 226.10 Td (15,904) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.31 226.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.75 226.10 Td ($2,250,344) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.75 226.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (resulting from the decrease in the fair value of certain warrants during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.38 214.10 Td (three months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.31 214.10 Td ( ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.19 214.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.45 214.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.89 214.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.89 214.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 97.66 202.10 Td (. ) Tj ET Q q 0 0 0 rg BT 104.98 202.10 Td (W) Tj ET Q q 0 0 0 rg BT 113.62 202.10 Td (e have no control over the amount of change in the fair value of our derivative instruments as this is a factor ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (based on fluctuating interest rates and stock prices and other market conditions outside of our control. Due to the lar) Tj ET Q q 0 0 0 rg BT 516.63 190.10 Td (ge exercise ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (of warrants in ) Tj ET Q q 0 0 0 rg BT 107.49 178.10 Td (August 2015 resulting in less remaining warrants requiring valuation in the future, we believe that these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.10 Td (fluctuations will dramatically decrease in future periods. ) Tj ET Q q 0 0 0 rg BT 280.57 166.10 Td (W) Tj ET Q q 0 0 0 rg BT 289.21 166.10 Td (e have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.52 166.10 Td (123,804) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.02 166.10 Td ( warrants that are required to be fair valued each ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.10 Td (period. ) Tj ET Q q 0 0 0 rg BT 82.87 154.10 Td (When the price of our stock decreases, it causes the fair value of our warrant liability in our consolidated balance sheets ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (to decrease creating a gain from the change in fair value in our consolidated statement of operations. ) Tj ET Q q 0 0 0 rg BT 456.24 142.10 Td (Alternatively) Tj ET Q q 0 0 0 rg BT 508.34 142.10 Td (, when the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.10 Td (price of our stock increases, it causes the fair value of our warrant liability to increase causing a loss from the change in fair ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.10 Td (value.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 94.10 Td (Net ) Tj ET Q q 0 0 0 rg BT 67.49 94.10 Td (Loss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 70.10 Td (Net loss for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.88 70.10 Td (three months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.81 70.10 Td ( ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 230.69 70.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.95 70.10 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.50 70.10 Td ($2,645,087) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.50 70.10 Td (, which decreased from net income of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 58.10 Td ($685,370) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.50 58.10 Td ( for the same period in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 180.25 58.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.25 58.10 Td (. ) Tj ET Q q 0 0 0 rg BT 207.57 58.10 Td (The reduction in net income was primarily the result of the increase in operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 46.10 Td (expenses and the change in the fair value of derivative financial instruments as discussed above.) Tj ET Q endstream endobj 55 0 obj <>] /Rotate 0 /Contents 56 0 R>> endobj 56 0 obj <> stream BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 772.93359375 m 106.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (25) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 730.25 Td (Results ) Tj ET Q q 0 0 0 rg BT 82.92 730.25 Td (of ) Tj ET Q q 0 0 0 rg BT 93.05 730.25 Td (Operations ) Tj ET Q q 0 0 0 rg BT 142.63 730.25 Td (for) Tj ET Q q 0 0 0 rg BT 155.22 730.25 Td ( ) Tj ET Q q 0 0 0 rg BT 157.02 730.25 Td (the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 172.16 730.25 Td (Nine ) Tj ET Q q 0 0 0 rg BT 193.96 730.25 Td (Months ) Tj ET Q q 0 0 0 rg BT 228.55 730.25 Td (Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 256.34 730.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 258.14 730.25 Td (September) Tj ET Q q 0 0 0 rg BT 304.06 730.25 Td (30, ) Tj ET Q q 0 0 0 rg BT 320.86 730.25 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 340.86 730.25 Td ( ) Tj ET Q q 0 0 0 rg BT 342.67 730.25 Td (Compar) Tj ET Q q 0 0 0 rg BT 378.04 730.25 Td (ed ) Tj ET Q q 0 0 0 rg BT 389.84 730.25 Td (to ) Tj ET Q q 0 0 0 rg BT 399.97 730.25 Td (the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.11 730.25 Td (Nine ) Tj ET Q q 0 0 0 rg BT 436.91 730.25 Td (Months ) Tj ET Q q 0 0 0 rg BT 471.50 730.25 Td (Ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.29 730.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 501.09 730.25 Td (September) Tj ET Q q 0 0 0 rg BT 547.01 730.25 Td (30, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 718.25 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 70.00 718.25 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 640.75 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 640.75 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 640.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.50 640.75 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 640.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 640.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 640.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 640.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 610.75 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 610.75 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 610.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.50 610.75 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 610.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 610.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 610.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 610.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 580.75 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 580.75 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 580.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.50 580.75 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 580.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 580.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 580.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 580.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 550.75 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 550.75 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 550.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.50 550.75 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 550.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 550.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 550.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 550.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 520.75 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 520.75 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 520.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.50 520.75 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 520.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 520.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 520.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 520.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 490.75 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 490.75 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 490.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.50 490.75 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 490.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 490.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 490.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 490.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 460.75 216.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.50 460.75 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 460.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.50 460.75 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 460.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 460.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 460.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 460.75 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 679.75 m 343.5 679.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 679.75 m 347.5 679.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 347.5 679.75 m 424.5 679.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 655.75 m 343.5 655.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 655.75 m 347.5 655.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 347.5 655.75 m 424.5 655.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 655.75 m 493.5 655.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 655.75 m 497.5 655.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 655.75 m 562.5 655.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 655.75 m 266.5 655.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 655.75 m 343.5 655.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 655.75 m 347.5 655.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 347.5 655.75 m 424.5 655.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 655.75 m 428.5 655.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 655.75 m 493.5 655.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 655.75 m 497.5 655.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 655.75 m 562.5 655.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 625.75 m 266.5 625.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 625.75 m 343.5 625.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 625.75 m 347.5 625.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 347.5 625.75 m 424.5 625.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 625.75 m 428.5 625.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 625.75 m 493.5 625.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 625.75 m 497.5 625.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 625.75 m 562.5 625.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 610.75 m 266.5 610.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 625.75 m 343.5 625.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 610.75 m 343.5 610.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 625.75 m 347.5 625.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 610.75 m 347.5 610.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 347.5 625.75 m 424.5 625.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 347.5 610.75 m 424.5 610.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 625.75 m 428.5 625.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 610.75 m 428.5 610.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 625.75 m 493.5 625.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 610.75 m 493.5 610.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 625.75 m 497.5 625.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 610.75 m 497.5 610.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 625.75 m 562.5 625.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 610.75 m 562.5 610.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 565.75 m 266.5 565.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 550.75 m 266.5 550.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 565.75 m 343.5 565.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 565.75 m 347.5 565.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 347.5 565.75 m 424.5 565.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 565.75 m 428.5 565.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 565.75 m 493.5 565.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 565.75 m 497.5 565.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 565.75 m 562.5 565.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 550.75 m 343.5 550.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 550.75 m 347.5 550.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 347.5 550.75 m 424.5 550.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 550.75 m 428.5 550.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 550.75 m 493.5 550.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 550.75 m 497.5 550.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 550.75 m 562.5 550.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 460.75 m 266.5 460.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 445.75 m 266.5 445.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 460.75 m 343.5 460.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 445.75 m 343.5 445.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 460.75 m 347.5 460.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 445.75 m 347.5 445.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 347.5 460.75 m 424.5 460.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 347.5 445.75 m 424.5 445.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 460.75 m 428.5 460.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 445.75 m 428.5 445.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 460.75 m 493.5 460.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 445.75 m 493.5 445.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 460.75 m 497.5 460.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 445.75 m 497.5 445.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 460.75 m 562.5 460.75 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 445.75 m 562.5 445.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 431.75 m 266.5 431.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 429.75 m 266.5 429.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 431.75 m 343.5 431.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 429.75 m 343.5 429.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 431.75 m 347.5 431.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 429.75 m 347.5 429.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347.5 431.75 m 424.5 431.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347.5 429.75 m 424.5 429.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 431.75 m 428.5 431.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424.5 429.75 m 428.5 429.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 431.75 m 493.5 431.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 429.75 m 493.5 429.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 431.75 m 497.5 431.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 429.75 m 497.5 429.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 431.75 m 562.5 431.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 429.75 m 562.5 429.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.80 698.32 Td (\(Unaudited\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.70 684.42 Td (Nine Months Ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.60 670.32 Td (September 30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.50 660.32 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.60 670.32 Td (September 30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.50 660.32 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.45 660.42 Td ($ Change) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.80 660.42 Td (% Change) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 645.42 Td (Revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.00 645.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.65 645.42 Td (14,205,693) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.00 645.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.65 645.42 Td (5,857,946) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 645.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.65 645.42 Td (8,347,747) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 645.42 Td (142.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 645.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 630.42 Td (Cost of sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.65 630.42 Td (8,649,308) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.65 630.42 Td (1,998,406) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.65 630.42 Td (6,650,902) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 630.42 Td (332.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 630.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 615.42 Td (Gross profit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.65 615.42 Td (5,556,385) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.65 615.42 Td (3,859,540) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.65 615.42 Td (1,696,845) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 615.42 Td (44.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 615.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 600.42 Td (Operating expenses:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.00 600.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.00 600.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 585.42 Td (General and administrative) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.65 585.42 Td (5,081,367) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.65 585.42 Td (3,600,621) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.65 585.42 Td (1,480,746) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 585.42 Td (41.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 585.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 570.42 Td (Sales and marketing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.65 570.42 Td (5,310,124) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.65 570.42 Td (3,726,370) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.65 570.42 Td (1,583,754) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 570.42 Td (42.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 570.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 555.42 Td (Total operating expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.65 555.42 Td (10,391,491) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.65 555.42 Td (7,326,991) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.65 555.42 Td (3,064,500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 555.42 Td (41.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 555.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 540.42 Td (Loss from operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.30 540.47 Td (\(4,835,106) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 540.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.30 540.47 Td (\(3,467,451) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.65 540.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.30 540.47 Td (\(1,367,655) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 540.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.45 540.42 Td (\(39.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 540.42 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 525.42 Td (Other income \(expense\):) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.00 525.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.00 525.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 510.42 Td (Interest expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.80 510.47 Td (\(86,354) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 510.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.80 510.47 Td (\(20,587) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.65 510.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.80 510.47 Td (\(65,767) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 510.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 510.42 Td (319.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 510.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 495.42 Td (Loss on exchange of warrants) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.30 495.47 Td (\(1,845,810) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 495.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.65 495.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.30 495.47 Td (\(1,845,810) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 495.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 495.42 Td (100.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 495.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 480.42 Td (Change in fair value of derivatives, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.30 480.47 Td (\(2,139,540) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 480.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.65 480.42 Td (5,625,555) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.30 480.47 Td (\(7,765,095) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 480.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.45 480.42 Td (\(138.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 480.42 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 465.42 Td (Other income, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.15 465.42 Td (5,520) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.15 465.42 Td (7,677) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.80 465.47 Td (\(2,157) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 465.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.45 465.42 Td (\(28.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.30 465.42 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 450.42 Td (Total other income \(expense\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.30 450.47 Td (\(4,066,184) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 450.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.65 450.42 Td (5,612,645) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.30 450.47 Td (\(9,678,829) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 450.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 450.42 Td (172.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 450.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 435.42 Td (Net income \(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.00 435.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.30 435.47 Td (\(8,901,290) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 435.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.00 435.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.65 435.42 Td (2,145,194) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 435.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.30 435.47 Td (\(11,046,484) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 435.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 435.42 Td (514.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.65 435.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 407.25 Td (Non-GAAP) Tj ET Q q 0 0 0 rg BT 98.89 407.25 Td ( Financial Measur) Tj ET Q q 0 0 0 rg BT 176.48 407.25 Td (es) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 383.25 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 383.25 Td (T) Tj ET Q q 0 0 0 rg BT 91.41 383.25 Td (o supplement our consolidated financial statements presented in accordance with generally accepted accounting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 371.25 Td (principles in the United States \("U.S. GAAP"\), we consider certain financial measures that are not prepared in accordance with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 359.25 Td (U.S. GAAP) Tj ET Q q 0 0 0 rg BT 96.40 359.25 Td (, including Operating EBITDA. ) Tj ET Q q 0 0 0 rg BT 225.64 359.25 Td (These non-GAAP) Tj ET Q q 0 0 0 rg BT 297.20 359.25 Td ( financial measures are not based on any standardized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 347.25 Td (methodology prescribed by GAAP) Tj ET Q q 0 0 0 rg BT 188.04 347.25 Td (. ) Tj ET Q q 0 0 0 rg BT 192.86 347.25 Td (These non-GAAP) Tj ET Q q 0 0 0 rg BT 264.42 347.25 Td ( financial measures should not be considered in isolation from, or as a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 335.25 Td (substitute for) Tj ET Q q 0 0 0 rg BT 102.09 335.25 Td (, financial information prepared in accordance with GAAP) Tj ET Q q 0 0 0 rg BT 335.90 335.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 311.25 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 311.25 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 311.25 Td (e believe that Operating EBITDA) Tj ET Q q 0 0 0 rg BT 229.04 311.25 Td ( provides useful information to investors as it excludes transactions not related to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 299.25 Td (the core cash operating business activities including non-cash transactions. ) Tj ET Q q 0 0 0 rg BT 353.90 299.25 Td (W) Tj ET Q q 0 0 0 rg BT 362.54 299.25 Td (e believe that excluding these transactions allows ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 287.25 Td (investors to meaningfully trend and analyze the performance of our core cash operations. ) Tj ET Q q 0 0 0 rg BT 408.20 287.25 Td (All companies do not calculate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 275.25 Td (EBITDA) Tj ET Q q 0 0 0 rg BT 86.11 275.25 Td ( in the same manner) Tj ET Q q 0 0 0 rg BT 166.24 275.25 Td (, and Operating EBITDA) Tj ET Q q 0 0 0 rg BT 266.77 275.25 Td ( as presented by IZEA) Tj ET Q q 0 0 0 rg BT 355.63 275.25 Td ( may not be comparable to EBITDA) Tj ET Q q 0 0 0 rg BT 500.59 275.25 Td ( presented by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 263.25 Td (other companies. IZEA) Tj ET Q q 0 0 0 rg BT 143.03 263.25 Td ( defines Operating EBITDA) Tj ET Q q 0 0 0 rg BT 255.50 263.25 Td ( as earnings or loss before interest, taxes, depreciation and amortization, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 251.25 Td (non-cash stock related compensation, gain or loss on asset disposals or impairment, changes in contingent acquisition costs, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 239.25 Td (and all other income and expense items such as loss on exchanges and changes in fair value of derivatives, if applicable.) Tj ET Q endstream endobj 57 0 obj <>] /Rotate 0 /Contents 58 0 R>> endobj 58 0 obj <> stream BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 772.93359375 m 106.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (26) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 694.50 378.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 694.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 694.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 694.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 664.50 378.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 664.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 664.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 664.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 634.50 378.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 634.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 634.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 634.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 604.50 378.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 604.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 604.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 604.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 574.50 378.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 574.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 574.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 574.50 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 718.5 m 493.5 718.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 718.5 m 497.5 718.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 718.5 m 562.5 718.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 694.5 m 428.5 694.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 694.5 m 493.5 694.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 694.5 m 497.5 694.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 694.5 m 562.5 694.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 694.5 m 493.5 694.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 694.5 m 497.5 694.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 694.5 m 562.5 694.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 559.5 m 428.5 559.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 545.5 m 428.5 545.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 543.5 m 428.5 543.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 559.5 m 493.5 559.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 545.5 m 493.5 545.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 543.5 m 493.5 543.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 559.5 m 497.5 559.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 545.5 m 497.5 545.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 543.5 m 497.5 543.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 559.5 m 562.5 559.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 545.5 m 562.5 545.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 543.5 m 562.5 543.5 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 738.18 Td (Reconciliation of Net Loss to Operating EBITDA:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.80 738.17 Td (\(Unaudited\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.70 723.17 Td (Nine Months Ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.60 709.07 Td (September 30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.50 699.07 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.60 709.07 Td (September 30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.50 699.07 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 684.17 Td (Net income \(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 684.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.30 684.22 Td (\(8,901,290) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 684.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 684.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 684.17 Td (2,145,194) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 669.17 Td (Non-cash stock-based compensation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 669.17 Td (511,202) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 669.17 Td (389,002) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 654.17 Td (Non-cash stock issued for payment of services) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 654.17 Td (136,592) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 654.17 Td (147,860) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 639.17 Td (Change in the fair value of derivatives) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.65 639.17 Td (2,139,540) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.30 639.22 Td (\(5,625,555) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 639.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 624.17 Td (Loss on exchange of warrants) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.65 624.17 Td (1,845,810) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 624.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 609.17 Td (Loss on disposal of equipment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.65 609.17 Td (595) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 609.17 Td (16,192) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 594.17 Td (Gain on change in value of contingent acquisition costs payable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.30 594.22 Td (\(1,734,300) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 594.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.65 594.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 579.17 Td (Interest expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 579.17 Td (86,354) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 579.17 Td (20,587) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 564.17 Td (Depreciation & amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 564.17 Td (631,060) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 564.17 Td (160,495) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 549.17 Td (Operating EBITDA) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 549.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.30 549.22 Td (\(5,284,437) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.65 549.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 549.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.30 549.22 Td (\(2,746,225) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.65 549.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 509.00 Td (Revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 485.00 Td (The following table breaks down our approximate revenue, cost of sales and gross profit by revenue stream as of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.47 485.00 Td (nine ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 473.00 Td (months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.45 473.00 Td ( ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.33 473.00 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.59 473.00 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.03 473.00 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.03 473.00 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 422.50 237.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 422.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 422.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 422.50 15.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 422.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 422.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 392.50 237.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 392.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 392.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 392.50 15.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 392.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 392.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 362.50 237.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 362.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 362.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 362.50 15.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 362.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 362.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 332.50 237.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 332.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 332.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 332.50 15.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 332.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 332.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 302.50 237.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 302.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 302.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 302.50 15.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 302.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 302.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 272.50 237.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 272.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 272.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 272.50 15.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 272.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 272.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 242.50 237.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 242.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 242.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 242.50 15.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 242.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 242.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 212.50 237.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 212.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 212.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 212.50 15.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 212.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 212.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 182.50 237.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 182.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.50 182.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 182.50 15.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 182.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 182.50 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 286.5 447.5 m 351.5 447.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 447.5 m 431.5 447.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 286.5 447.5 m 351.5 447.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 286.5 422.5 m 351.5 422.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 447.5 m 416.5 447.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 422.5 m 416.5 422.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 447.5 m 431.5 447.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 422.5 m 431.5 422.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 447.5 m 496.5 447.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 422.5 m 496.5 422.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 447.5 m 561.5 447.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 422.5 m 561.5 422.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286.5 362.5 m 351.5 362.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 362.5 m 416.5 362.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 362.5 m 431.5 362.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 362.5 m 496.5 362.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 362.5 m 561.5 362.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286.5 362.5 m 351.5 362.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286.5 348.5 m 351.5 348.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286.5 346.5 m 351.5 346.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 362.5 m 416.5 362.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 348.5 m 416.5 348.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 346.5 m 416.5 346.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 362.5 m 431.5 362.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 348.5 m 431.5 348.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 346.5 m 431.5 346.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 362.5 m 496.5 362.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 348.5 m 496.5 348.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 346.5 m 496.5 346.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 362.5 m 561.5 362.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 348.5 m 561.5 348.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 346.5 m 561.5 346.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286.5 272.5 m 351.5 272.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 272.5 m 416.5 272.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 272.5 m 431.5 272.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 272.5 m 496.5 272.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 272.5 m 561.5 272.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286.5 272.5 m 351.5 272.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286.5 258.5 m 351.5 258.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286.5 256.5 m 351.5 256.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 272.5 m 416.5 272.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 258.5 m 416.5 258.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 256.5 m 416.5 256.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 272.5 m 431.5 272.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 258.5 m 431.5 258.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 256.5 m 431.5 256.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 272.5 m 496.5 272.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 258.5 m 496.5 258.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 256.5 m 496.5 256.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 272.5 m 561.5 272.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 258.5 m 561.5 258.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 256.5 m 561.5 256.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 182.5 m 416.5 182.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 182.5 m 561.5 182.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286.5 182.5 m 351.5 182.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286.5 168.5 m 351.5 168.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286.5 166.5 m 351.5 166.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 182.5 m 416.5 182.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 168.5 m 416.5 168.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351.5 166.5 m 416.5 166.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 182.5 m 431.5 182.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 168.5 m 431.5 168.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.5 166.5 m 431.5 166.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 182.5 m 496.5 182.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 168.5 m 496.5 168.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 166.5 m 496.5 166.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 182.5 m 561.5 182.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 168.5 m 561.5 168.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 166.5 m 561.5 166.5 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.20 452.17 Td (Nine Months Ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.60 437.17 Td (September 30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.50 427.17 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.60 437.17 Td (September 30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.50 427.17 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.60 437.17 Td (September 30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.50 427.17 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.60 437.17 Td (September 30,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.50 427.17 Td (2014) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 52 410.61259765625 m 147 410.61259765625 l s q 0 0 0 rg BT 52.00 412.18 Td (Revenue & % of Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 397.17 Td (Sponsored Revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.00 397.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.65 397.17 Td (8,375,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 397.17 Td (59) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.65 397.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.00 397.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 397.17 Td (5,473,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 397.17 Td (93) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 397.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 382.17 Td (Content Revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.00 382.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.65 382.17 Td (5,686,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 382.17 Td (40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.65 382.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.00 382.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 382.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 382.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 382.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 367.17 Td (Service Fees & Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.00 367.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.15 367.17 Td (145,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.65 367.17 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.65 367.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.00 367.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.15 367.17 Td (385,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 367.17 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 367.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 352.17 Td (Total Revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.00 352.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.60 352.17 Td (14,206,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.65 352.17 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.65 352.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.00 352.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 352.17 Td (5,858,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.65 352.17 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 352.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 52 320.61259765625 m 164.783203125 320.61259765625 l s q 0 0 0 rg BT 52.00 322.18 Td (Cost of Sales & % of Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 307.17 Td (Sponsored Revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.00 307.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.65 307.17 Td (3,570,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 307.17 Td (41) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.65 307.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.00 307.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 307.17 Td (1,998,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.65 307.17 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 307.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 292.17 Td (Content Revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.00 292.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.65 292.17 Td (5,080,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 292.17 Td (59) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.65 292.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.00 292.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 292.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 292.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 292.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 277.17 Td (Service Fees & Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.00 277.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.65 277.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 277.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.65 277.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.00 277.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 277.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 277.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 277.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 262.17 Td (Total Cost of Sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.00 262.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.65 262.17 Td (8,650,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.65 262.17 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.65 262.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.00 262.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 262.17 Td (1,998,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.65 262.17 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 262.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 52 230.61259765625005 m 154.7587890625 230.61259765625005 l s q 0 0 0 rg BT 52.00 232.18 Td (Gross Profit & Profit %) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 217.17 Td (Sponsored Revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.00 217.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.65 217.17 Td (4,805,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 217.17 Td (57) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.65 217.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.00 217.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 217.17 Td (3,475,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 217.17 Td (63) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 217.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 202.17 Td (Content Revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.00 202.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.15 202.17 Td (606,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 202.17 Td (11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.65 202.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.00 202.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 202.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 202.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 202.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 187.17 Td (Service Fees & Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.00 187.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.15 187.17 Td (145,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.65 187.17 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.65 187.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.00 187.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.15 187.17 Td (385,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.65 187.17 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 187.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 172.17 Td (Total Profit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.00 172.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.65 172.17 Td (5,556,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 172.17 Td (39) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.65 172.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.00 172.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 172.17 Td (3,860,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 172.17 Td (66) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 172.17 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 156.00 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 144.00 Td (Revenues for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 156.25 144.00 Td (nine months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.42 144.00 Td ( ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.30 144.00 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.56 144.00 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.06 144.00 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.81 144.00 Td ( by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.81 144.00 Td ($8,347,747) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.81 144.00 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.64 144.00 Td (143%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.97 144.00 Td (, compared to the same ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 132.00 Td (period in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.33 132.00 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.33 132.00 Td (.) Tj ET Q q 0 0 0 rg BT 113.14 132.00 Td (The increase was primarily attributable to increases in our Sponsored Revenue of $2,902,000 and Content ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 120.00 Td (Revenue of $5,686,000 during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.14 120.00 Td (nine months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.31 120.00 Td ( ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.18 120.00 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.45 120.00 Td ( compared to the same period in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.24 120.00 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.24 120.00 Td (. Our sales mix ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 108.00 Td (has changed in the current year due to the acquisition of Ebyline in January 2015. ) Tj ET Q q 0 0 0 rg BT 381.11 108.00 Td (The increase in Sponsored Revenue income ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 96.00 Td (was primarily attributable to our lar) Tj ET Q q 0 0 0 rg BT 192.28 96.00 Td (ger sales force, concentrated sales ef) Tj ET Q q 0 0 0 rg BT 338.13 96.00 Td (forts toward lar) Tj ET Q q 0 0 0 rg BT 399.59 96.00 Td (ger IZEA) Tj ET Q q 0 0 0 rg BT 437.08 96.00 Td ( managed campaigns rather ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 84.00 Td (than smaller advertiser self-service campaigns and generating repeat business from existing customers. Content Revenue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 72.00 Td (increased as a result of the Ebyline acquisition in January 2015. Service fees decreased in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.64 72.00 Td (nine months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.81 72.00 Td ( ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 60.00 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.26 60.00 Td ( due to less fees received from inactive accounts since there are relatively few inactive accounts in ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 525.92 60.00 Td (IZEAx) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 551.46 60.00 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 48.00 Td ( ) Tj ET Q endstream endobj 59 0 obj <>] /Rotate 0 /Contents 60 0 R>> endobj 60 0 obj <> stream BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 772.93359375 m 106.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (27) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 742.10 Td (Our net bookings of $17.2 million for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.04 742.10 Td (nine months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.20 742.10 Td ( ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.08 742.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.34 742.10 Td ( were 174% higher than the net ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (bookings of $6.3 million for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 180.27 730.10 Td (nine months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.43 730.10 Td ( ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.31 730.10 Td (September30, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.57 730.10 Td (. Net bookings is a measure of sales orders minus any ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (cancellations or refunds in a given period. Management uses net bookings as a leading indicator of future revenue recognition ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (as revenue is typically recognized within 90 days of booking. ) Tj ET Q q 0 0 0 rg BT 300.31 706.10 Td (W) Tj ET Q q 0 0 0 rg BT 308.95 706.10 Td (e experienced higher bookings as a result of the Ebyline ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (acquisition, new customers, lar) Tj ET Q q 0 0 0 rg BT 173.96 694.10 Td (ger IZEA) Tj ET Q q 0 0 0 rg BT 211.44 694.10 Td ( managed campaigns and an increase in repeat clients. ) Tj ET Q q 0 0 0 rg BT 432.55 694.10 Td (These bookings are expected to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (translate into higher revenue in 2015 as compared to 2014.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (Cost ) Tj ET Q q 0 0 0 rg BT 71.94 658.10 Td (of ) Tj ET Q q 0 0 0 rg BT 82.77 658.10 Td (Sales ) Tj ET Q q 0 0 0 rg BT 106.94 658.10 Td (and ) Tj ET Q q 0 0 0 rg BT 125.57 658.10 Td (Gr) Tj ET Q q 0 0 0 rg BT 137.60 658.10 Td (oss ) Tj ET Q q 0 0 0 rg BT 152.89 658.10 Td (Pr) Tj ET Q q 0 0 0 rg BT 163.25 658.10 Td (ofit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 634.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 103.48 634.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 121.52 634.10 Td (of ) Tj ET Q q 0 0 0 rg BT 131.78 634.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 153.15 634.10 Td (is ) Tj ET Q q 0 0 0 rg BT 161.75 634.10 Td (comprised ) Tj ET Q q 0 0 0 rg BT 205.34 634.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 244.48 634.10 Td (of ) Tj ET Q q 0 0 0 rg BT 254.75 634.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 290.56 634.10 Td (paid ) Tj ET Q q 0 0 0 rg BT 309.71 634.10 Td (to ) Tj ET Q q 0 0 0 rg BT 319.42 634.10 Td (our ) Tj ET Q q 0 0 0 rg BT 334.68 634.10 Td (content ) Tj ET Q q 0 0 0 rg BT 366.05 634.10 Td (creators ) Tj ET Q q 0 0 0 rg BT 399.62 634.10 Td (to ) Tj ET Q q 0 0 0 rg BT 409.33 634.10 Td (provide ) Tj ET Q q 0 0 0 rg BT 441.81 634.10 Td (content ) Tj ET Q q 0 0 0 rg BT 473.18 634.10 Td (or ) Tj ET Q q 0 0 0 rg BT 483.44 634.10 Td (advertising ) Tj ET Q q 0 0 0 rg BT 529.80 634.10 Td (services ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (through ) Tj ET Q q 0 0 0 rg BT 83.61 622.10 Td (the ) Tj ET Q q 0 0 0 rg BT 98.33 622.10 Td (pushing ) Tj ET Q q 0 0 0 rg BT 132.50 622.10 Td (of ) Tj ET Q q 0 0 0 rg BT 143.33 622.10 Td (sponsored ) Tj ET Q q 0 0 0 rg BT 186.38 622.10 Td (content ) Tj ET Q q 0 0 0 rg BT 218.31 622.10 Td (through ) Tj ET Q q 0 0 0 rg BT 251.92 622.10 Td (a ) Tj ET Q q 0 0 0 rg BT 258.86 622.10 Td (blog ) Tj ET Q q 0 0 0 rg BT 279.14 622.10 Td (post, ) Tj ET Q q 0 0 0 rg BT 300.81 622.10 Td (tweet, ) Tj ET Q q 0 0 0 rg BT 327.46 622.10 Td (click ) Tj ET Q q 0 0 0 rg BT 349.39 622.10 Td (or ) Tj ET Q q 0 0 0 rg BT 360.22 622.10 Td (action.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 598.10 Td (Cost of sales for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 168.49 598.10 Td (nine months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.65 598.10 Td ( ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.53 598.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.79 598.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.29 598.10 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.04 598.10 Td ( by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.04 598.10 Td ($6,650,902) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.04 598.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.88 598.10 Td (332.8%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.71 598.10 Td (, compared to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (same period in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.37 586.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.37 586.10 Td (.) Tj ET Q q 0 0 0 rg BT 138.69 586.10 Td (The increase in cost of sales was primarily related to the increase in our sales and higher cost on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.50 586.10 Td (40%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.83 586.10 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (those sales related to Content Revenue. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 550.10 Td (Gross profit for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 165.43 550.10 Td (nine months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.59 550.10 Td ( ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.47 550.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.73 550.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.23 550.10 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.99 550.10 Td ( by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.99 550.10 Td ($1,696,845) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.99 550.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.82 550.10 Td (44.0%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.65 550.10 Td (, compared to the same ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (period in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.33 538.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.33 538.10 Td (. Our grossprofit as a percentage of revenue decreased from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.60 538.10 Td (66%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.93 538.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.31 538.10 Td (nine months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.48 538.10 Td ( ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.35 538.10 Td (September30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 526.10 Td ( to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.78 526.10 Td (39%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.11 526.10 Td ( for the same period in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.86 526.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 213.86 526.10 Td (. ) Tj ET Q q 0 0 0 rg BT 223.68 526.10 Td (The gross profit decrease during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.29 526.10 Td (nine months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.46 526.10 Td ( ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.33 526.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.60 526.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (compared to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 102.20 514.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.20 514.10 Td ( was primarily attributable to substantially lower profit mar) Tj ET Q q 0 0 0 rg BT 359.18 514.10 Td (gins on Content Revenue that was added to our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (product mix during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.43 502.10 Td (nine months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.59 502.10 Td ( ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.47 502.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.73 502.10 Td (, as well as increased participation by IZEAx white-label ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (partners.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 466.10 Td (During the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.55 466.10 Td (nine months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 180.71 466.10 Td ( ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.59 466.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.85 466.10 Td (, we generated a gross profit of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.47 466.10 Td (1) Tj ET Q q 0 0 0 rg BT 421.10 466.10 Td (1%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.43 466.10 Td ( on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.43 466.10 Td (40%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.76 466.10 Td ( of our total revenue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (related to sales of Content. Prior to being acquired by IZEA, Ebyline generated Content Revenue primarily from newspaper ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (and traditional publishers through their workflow platform on a self-service basis at a 7%-9% profit. ) Tj ET Q q 0 0 0 rg BT 458.23 442.10 Td (After the acquisition, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (these customers still produce a significant amount of revenue, but we are increasing the sales of Content to customers on a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (managed basis and expect to see continued improvement in the Content mar) Tj ET Q q 0 0 0 rg BT 354.45 418.10 Td (gins. ) Tj ET Q q 0 0 0 rg BT 378.44 418.10 Td (The mix of sales between our higher mar) Tj ET Q q 0 0 0 rg BT 542.37 418.10 Td (gin ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (Sponsored Revenue and our lower mar) Tj ET Q q 0 0 0 rg BT 205.61 406.10 Td (gin Content Revenue \(particularly the self-service workflow portion of this revenue\) has ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (a significant af) Tj ET Q q 0 0 0 rg BT 109.24 394.10 Td (fect on our overall gross profit percentage. ) Tj ET Q q 0 0 0 rg BT 283.90 394.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 333.80 394.10 Td (, the addition of white label partners to IZEAx will ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (translate into lower mar) Tj ET Q q 0 0 0 rg BT 145.06 382.10 Td (gins on our Sponsored Revenue. ) Tj ET Q q 0 0 0 rg BT 277.09 382.10 Td (White label partners receive a percentage of each transaction generated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (by users within their system. ) Tj ET Q q 0 0 0 rg BT 169.16 370.10 Td (As a result of the changes in our sales mix, we expect that our total revenue will increase but our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (mar) Tj ET Q q 0 0 0 rg BT 65.37 358.10 Td (gins will decrease to an expected range of 35%-40%. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (Operating ) Tj ET Q q 0 0 0 rg BT 96.39 334.10 Td (Expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 310.10 Td (Operating expenses consist of general and administrative expenses, contingent acquisition cost adjustments and sales ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (and marketing expenses.) Tj ET Q q 0 0 0 rg BT 153.40 298.10 Td (T) Tj ET Q q 0 0 0 rg BT 158.81 298.10 Td (otal operating expenses for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.04 298.10 Td (nine months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.21 298.10 Td ( ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.08 298.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.35 298.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.85 298.10 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.60 298.10 Td ( by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.60 298.10 Td ($3,064,500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.60 298.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (41.8%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.83 286.10 Td (, compared to the same period in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.12 286.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.12 286.10 Td (. ) Tj ET Q q 0 0 0 rg BT 236.44 286.10 Td (The increase was primarily attributable to increased personnel costs and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (additional overhead from the Ebyline acquisition.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 250.10 Td (General and administrative expenses consist primarily of administrative and engineering personnel costs, general ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (operating costs, public company costs, including non-cash stock compensation, facilities costs, insurance, depreciation, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (professional fees,and investor relations costs. General and administrative expenses for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.83 226.10 Td (nine months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.00 226.10 Td ( ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.87 226.10 Td (September30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 214.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 214.10 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.25 214.10 Td ( by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 125.25 214.10 Td ($1,480,746) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 170.25 214.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.08 214.10 Td (41.1%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.91 214.10 Td (, compared to the same period in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.21 214.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.21 214.10 Td (. ) Tj ET Q q 0 0 0 rg BT 370.02 214.10 Td (The increase was primarily attributable to a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td ($1.5 million increase in personnel costs and $160,000 increase in communication, travel and supply costs as a result of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (increase in the number and higher cost of our administrative and engineering personnel by nearly 50% since the prior year) Tj ET Q q 0 0 0 rg BT 538.45 190.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (Increased personnel costs are expected to continue in 2015 due to the realization of an entire year of salaries, taxes and benefits ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.10 Td (for the 2014 new hires and planned increases in the total number of engineering personnel. ) Tj ET Q q 0 0 0 rg BT 417.76 166.10 Td (The increase in general and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.10 Td (administrative expenses is also attributable to a $730,000 increase in professional & litigation fees primarily for the active ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (defense and settlement costs in our patent ligation with Blue Calypso. On ) Tj ET Q q 0 0 0 rg BT 348.28 142.10 Td (August 17, 2015, we entered into a $390,506 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.10 Td (settlement agreement with Blue Calypso ending all outstanding patent litigation. ) Tj ET Q q 0 0 0 rg BT 376.42 130.10 Td (Therefore, we expect that future legal fees ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.10 Td (will decrease substantially compared to prior periods. ) Tj ET Q q 0 0 0 rg BT 268.92 118.10 Td (The increase in general and administrative expenses is also attributable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.10 Td (to a $462,000 increase in depreciation and amortization expense as a result of the amortization of software development costs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.10 Td (for ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 64.16 94.10 Td (IZEA) Tj ET Q q 0 0 0 rg BT 85.09 94.10 Td ( Exchange) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 127.01 94.10 Td ( \() Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 132.84 94.10 Td (IZEAx) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.39 94.10 Td (\) and the Ebyline intangible assets acquired; a $122,000 increase in stock compensation, and a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.10 Td ($187,000 increase in rent for our expanded facilities and additional of) Tj ET Q q 0 0 0 rg BT 328.89 82.10 Td (fices in California.) Tj ET Q endstream endobj 61 0 obj <>] /Rotate 0 /Contents 62 0 R>> endobj 62 0 obj <> stream BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 772.93359375 m 106.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (28) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 742.10 Td (General and administrative expense increases were reduced by a gain of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.70 742.10 Td ($1,734,300) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.70 742.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.08 742.10 Td (nine months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.25 742.10 Td ( ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.26 730.10 Td ( due to a reduction in our estimated fair value of contingent acquisition costs payable as discussed in more ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (detail in the results of operations for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.18 718.10 Td (three months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.11 718.10 Td ( ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.99 718.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.25 718.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 694.10 Td (Sales and marketing expenses consist primarily of costs personnel costs related to those who support sales and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (marketing ef) Tj ET Q q 0 0 0 rg BT 100.63 682.10 Td (forts, promotional and advertising costs and trade show expenses. Sales and marketing expenses for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.91 682.10 Td (nine ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.45 670.10 Td ( ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.33 670.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.59 670.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.09 670.10 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.84 670.10 Td ( by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.84 670.10 Td ($1,583,754) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.84 670.10 Td ( or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.17 670.10 Td (42.5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.00 670.10 Td (, compared to the same period in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.29 670.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.29 670.10 Td (.) Tj ET Q q 0 0 0 rg BT 488.61 670.10 Td (The increase was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (primarily attributable to the increase in personnel costs as a result of a 51% increase in the number of our sales personnel since ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (the prior year and$318,000 in increased commissions paid as a result of the increase in customer bookings. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (Other) Tj ET Q q 0 0 0 rg BT 75.37 622.10 Td ( ) Tj ET Q q 0 0 0 rg BT 77.87 622.10 Td (Income ) Tj ET Q q 0 0 0 rg BT 112.03 622.10 Td (\(Expense\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 598.10 Td (Other income \(expense\) consists primarily of interest expense, loss on exchange of warrants and the change in the fair ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (value of derivatives. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 562.10 Td (Interest expense during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.52 562.10 Td (nine months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.68 562.10 Td ( ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.56 562.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.82 562.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.32 562.10 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.08 562.10 Td ( by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.08 562.10 Td ($65,767) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.58 562.10 Td ( compared to the same period ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.28 550.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.28 550.10 Td ( primarily due to the imputed interest on the acquisition costs payable.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 526.10 Td (As discussed in detail in the three month comparison above, we incurred a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.92 526.10 Td ($1,845,810) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.92 526.10 Td ( loss on exchange of warrants ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (due to a limited time price reduction of) Tj ET Q q 0 0 0 rg BT 206.16 514.10 Td (fered to our warrant holders during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.60 514.10 Td (nine months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.77 514.10 Td ( ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.65 514.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.91 514.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 490.10 Td (In prior periods, we entered into financing transactions that gave rise to derivative liabilities. ) Tj ET Q q 0 0 0 rg BT 460.98 490.10 Td (These financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (instruments are carried at fair value in our financial statements. Changes in the fair value of derivative financial instruments are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (required to be recorded in other income \(expense\) in the period of change. ) Tj ET Q q 0 0 0 rg BT 351.64 466.10 Td (W) Tj ET Q q 0 0 0 rg BT 360.28 466.10 Td (e recorded a loss of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.52 466.10 Td ($2,139,540) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.52 466.10 Td ( and a gain of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td ($5,625,555) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 454.10 Td ( resulting from the increase \(decrease\) in the fair value of certain warrants during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.79 454.10 Td (nine months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.96 454.10 Td ( ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.26 442.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.70 442.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.70 442.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 222.36 442.10 Td (. ) Tj ET Q q 0 0 0 rg BT 229.68 442.10 Td (W) Tj ET Q q 0 0 0 rg BT 238.32 442.10 Td (e have no control over the amount of change in the fair value of our derivative ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (instruments as this is a factor based on fluctuating interest rates and stock prices and other market conditions outside of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (control. Due to the lar) Tj ET Q q 0 0 0 rg BT 140.35 418.10 Td (ge exercise of warrants in ) Tj ET Q q 0 0 0 rg BT 245.02 418.10 Td (August 2015 resulting in less remaining warrants requiring valuation in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (future, we believe that these fluctuations will significantly decrease in future periods. ) Tj ET Q q 0 0 0 rg BT 395.54 406.10 Td (W) Tj ET Q q 0 0 0 rg BT 404.17 406.10 Td (e have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.49 406.10 Td (123,804) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.99 406.10 Td ( warrants that are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (required to be fair valued each period. ) Tj ET Q q 0 0 0 rg BT 207.25 394.10 Td (When the price of our stock decreases, it causes the fair value of our warrant liability in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (our consolidated balance sheets to decrease creating a gain from the change in fair value in our consolidated statement of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (operations. ) Tj ET Q q 0 0 0 rg BT 98.60 370.10 Td (Alternatively) Tj ET Q q 0 0 0 rg BT 150.71 370.10 Td (, when the price of our stock increases, it causes the fair value of our warrant liability to increase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (causing a loss from the change in fair value.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (Net ) Tj ET Q q 0 0 0 rg BT 67.49 334.10 Td (Loss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 310.10 Td (Net loss for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.88 310.10 Td (nine months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.04 310.10 Td ( ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.92 310.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.18 310.10 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.73 310.10 Td ($8,901,290) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.73 310.10 Td (, which decreased from net income of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td ($2,145,194) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 298.10 Td ( for the same period in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 187.75 298.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 207.75 298.10 Td (. ) Tj ET Q q 0 0 0 rg BT 215.07 298.10 Td (The reduction in net income was primarily the result of the increase in operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (expenses and the change in the fair value of derivative financial instruments as discussed above.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (Liquidity and Capital Resour) Tj ET Q q 0 0 0 rg BT 175.68 250.10 Td (ces) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 226.10 Td (Our cash position was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 180.10 226.10 Td ($13,273,048) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 230.10 226.10 Td ( as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.26 226.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.52 226.10 Td ( as compared to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.05 226.10 Td ($6,521,930) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.05 226.10 Td ( as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.21 226.10 Td (December31, 2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.80 226.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (an increase of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.02 214.10 Td ($6,751,1) Tj ET Q q 0 0 0 rg BT 142.65 214.10 Td (18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 152.65 214.10 Td ( primarily as a result of proceeds received from warrant exercises less the funding of our operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (losses and our acquisition of Ebyline.) Tj ET Q q 0 0 0 rg BT 204.79 202.10 Td (W) Tj ET Q q 0 0 0 rg BT 213.43 202.10 Td (e have incurred significant net losses and negative cash flow from operations since our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (inception which has resulted in a total accumulated deficit of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.03 190.10 Td ($31,842,640) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.03 190.10 Td ( as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.19 190.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.45 190.10 Td (. ) Tj ET Q q 0 0 0 rg BT 460.27 190.10 Td (T) Tj ET Q q 0 0 0 rg BT 465.68 190.10 Td (o date, we have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (financed our operations through internally generated revenue from operations and the sale of our equity securities. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 154.10 Td (Cash used for operating activities was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.40 154.10 Td ($5,038,125) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.40 154.10 Td ( during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.23 154.10 Td (nine months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.39 154.10 Td ( ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.27 154.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.54 154.10 Td ( and was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (primarily a result of our loss from operations during the period of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.38 142.10 Td ($4,835,106) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.38 142.10 Td (. Cash used for investing activities was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.10 Td ($1,051,642) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 130.10 Td ( during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 140.83 130.10 Td (nine months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.99 130.10 Td ( ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 218.87 130.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.13 130.10 Td ( due primarily to the acquisition of Ebyline and increases in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.10 Td (computer equipment purchases. Cash received from financing activities was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.62 118.10 Td ($12,840,885) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.62 118.10 Td ( during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.44 118.10 Td (nine months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.61 118.10 Td ( ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.26 106.10 Td ( and was primarily a result of proceeds received from warrant exercises and issuance of shares under our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.10 Td (Employee Stock Purchase Program of) Tj ET Q q 0 0 0 rg BT 202.01 94.10 Td (fset by principal payments on our capital leases of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.00 94.10 Td ($46,065) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.50 94.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 70.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 70.10 Td (On January 30, 2015, we purchased all of the outstanding shares of capital stock of Ebyline, pursuant to the terms of a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 58.10 Td (Stock Purchase ) Tj ET Q q 0 0 0 rg BT 113.33 58.10 Td (Agreement, dated as of January 27, 2015, by and among IZEA, Ebyline and the stockholders of Ebyline. ) Tj ET Q q 0 0 0 rg BT 536.65 58.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 46.10 Td (aggregate consideration payable by us will be an amount in the aggregate of up to $8,850,000, including a cash payment at ) Tj ET Q endstream endobj 63 0 obj <>] /Rotate 0 /Contents 64 0 R>> endobj 64 0 obj <> stream BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 772.93359375 m 106.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (29) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (closing of $1,200,000, a stock issuance valued at $250,000 paid on July 30, 2015, $1,877,064 in two equal installments of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td ($938,532 on the first and second anniversaries of the closing, and up to $5,500,000 in contingent performance payments, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (subject to Ebyline meeting certain revenue tar) Tj ET Q q 0 0 0 rg BT 233.63 718.10 Td (gets for each of the three years ending December 31, 2015, 2016 and 2017. ) Tj ET Q q 0 0 0 rg BT 538.91 718.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td ($1,877,064 in annual payments and the $5,500,000 in contingent performance payments may be made in cash or common ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (stock, at our option. ) Tj ET Q q 0 0 0 rg BT 134.53 694.10 Td (The performance payments are to be made only if Ebyline achieves at least 90% of Content Revenue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (tar) Tj ET Q q 0 0 0 rg BT 60.37 682.10 Td (gets of $17,000,000 in 2015, $27,000,000 in 2016 and $32,000,000 in 2017. If Ebyline achieves at least 90%, but less than ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (100% of the Content Revenue tar) Tj ET Q q 0 0 0 rg BT 183.39 670.10 Td (gets, the performance payments owed of $1,800,000, $1,800,000 and $1,900,000 for each of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (the three years ending December 31, 2015, 2016 and 2017, respectively) Tj ET Q q 0 0 0 rg BT 336.20 658.10 Td (, will be subject to adjustment. ) Tj ET Q q 0 0 0 rg BT 463.13 658.10 Td (Anything below 90% of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (the Content Revenue tar) Tj ET Q q 0 0 0 rg BT 146.73 646.10 Td (gets will not be eligible for any performance payment. Based on our current projections for Content ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (Revenue for 2015-2017, we do not believe that these tar) Tj ET Q q 0 0 0 rg BT 274.19 634.10 Td (gets will be met within each of the respective years. ) Tj ET Q q 0 0 0 rg BT 483.29 634.10 Td (As a result, we do ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (not believe that we will be required to make any of the $5,500,000 in contingent performance payments. ) Tj ET Q q 0 0 0 rg BT 472.19 622.10 Td (Therefore, the total ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (expected purchase price for the Ebyline acquisition will be $3,327,064. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 586.10 Td (On ) Tj ET Q q 0 0 0 rg BT 100.17 586.10 Td (April 13, 2015, we expanded our secured credit facility agreement with Bridge Bank, N.A. of San Jose, California. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (Pursuant to this agreement, we may submit requests for funding up to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.79 574.10 Td (80%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.12 574.10 Td ( of its eligible accounts receivable up to a maximum ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (credit limit of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 107.49 562.10 Td ($5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.88 562.10 Td (. ) Tj ET Q q 0 0 0 rg BT 153.70 562.10 Td (This agreement is secured by our accounts receivable and substantially all of our other assets. ) Tj ET Q q 0 0 0 rg BT 532.56 562.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (agreement renews annually and requires us to pay an annual facility fee of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.60 550.10 Td ($20,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.10 550.10 Td ( \() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.93 550.10 Td (0.4%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.76 550.10 Td ( of the credit limit\) and an annual due ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (diligence fee of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.69 538.10 Td ($1,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.19 538.10 Td (. Interest accrues on the advances at the rate of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.26 538.10 Td (prime plus 2%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.58 538.10 Td ( per annum. ) Tj ET Q q 0 0 0 rg BT 439.39 538.10 Td (The default rate of interest is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (prime plus 7%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.33 526.10 Td (. If the agreement is terminated prior to May 1, 2016, we will be required to pay a termination fee of .70% of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (credit limit divided by 80%. ) Tj ET Q q 0 0 0 rg BT 169.43 514.10 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.87 514.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.14 514.10 Td (, we had no advances outstanding under this agreement. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 490.10 Td (On July 30, 2015, pursuant to the terms of a Stock Purchase ) Tj ET Q q 0 0 0 rg BT 327.64 490.10 Td (Agreement, dated as of January 27, 2015, by and among ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (IZEA, Ebyline and the stockholders of Ebyline, we issued 636,294 shares of restricted common stock to the former Ebyline ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (shareholders to satisfy the $250,000 purchase obligation that was due on such date. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 442.10 Td (As discussed in the comparative results above, on ) Tj ET Q q 0 0 0 rg BT 286.79 442.10 Td (August 14, 2015, ) Tj ET Q q 0 0 0 rg BT 358.00 442.10 Td (W) Tj ET Q q 0 0 0 rg BT 366.64 442.10 Td (arrants for a total of 43,830,802 shares of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (common stock were exercised and converted into common stock at an average exercise price of $0.293 per share for total ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (proceeds of $12,861,057 less $3,972 in transaction costs.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 394.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 394.10 Td (e believe that with our current cash, the expanded credit line and the proceeds received from the closing of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (warrants, we will have suf) Tj ET Q q 0 0 0 rg BT 155.06 382.10 Td (ficient cash reserves available to cover expenses for the future year) Tj ET Q q 0 0 0 rg BT 422.71 382.10 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (Off-Balance ) Tj ET Q q 0 0 0 rg BT 104.16 346.10 Td (Sheet ) Tj ET Q q 0 0 0 rg BT 129.43 346.10 Td (Arrangements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 322.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 322.10 Td (e ) Tj ET Q q 0 0 0 rg BT 101.58 322.10 Td (do ) Tj ET Q q 0 0 0 rg BT 114.08 322.10 Td (not ) Tj ET Q q 0 0 0 rg BT 129.35 322.10 Td (engage ) Tj ET Q q 0 0 0 rg BT 160.17 322.10 Td (in ) Tj ET Q q 0 0 0 rg BT 170.45 322.10 Td (any ) Tj ET Q q 0 0 0 rg BT 187.39 322.10 Td (activities ) Tj ET Q q 0 0 0 rg BT 225.99 322.10 Td (involving ) Tj ET Q q 0 0 0 rg BT 266.82 322.10 Td (variable ) Tj ET Q q 0 0 0 rg BT 301.52 322.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 333.46 322.10 Td (entities ) Tj ET Q q 0 0 0 rg BT 364.84 322.10 Td (or ) Tj ET Q q 0 0 0 rg BT 375.67 322.10 Td (of) Tj ET Q q 0 0 0 rg BT 383.82 322.10 Td (f-balance ) Tj ET Q q 0 0 0 rg BT 423.51 322.10 Td (sheet ) Tj ET Q q 0 0 0 rg BT 446.56 322.10 Td (arrangements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (Critical ) Tj ET Q q 0 0 0 rg BT 84.71 286.10 Td (Accounting Policies and Use of Estimates) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 262.10 Td (The preparation of the accompanying financial statements and related disclosures in conformity with U.S. GAAP) Tj ET Q q 0 0 0 rg BT 538.84 262.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (requires us to make judgments, assumptions and estimates that af) Tj ET Q q 0 0 0 rg BT 310.88 250.10 Td (fect the amounts reported in the accompanying financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (statements and the accompanying notes.) Tj ET Q q 0 0 0 rg BT 215.61 238.10 Td (The preparation of these financial statements requires managements to make estimates ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (and assumptions that af) Tj ET Q q 0 0 0 rg BT 143.97 226.10 Td (fect the reported amounts of assets, liabilities, revenue and expenses, and related disclosure of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (contingent assets and liabilities.) Tj ET Q q 0 0 0 rg BT 182.02 214.10 Td (When making these estimates and assumptions, we consider our historical experience, our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (knowledge of economic and market factors and various other factors that we believe to be reasonable under the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (circumstances.) Tj ET Q q 0 0 0 rg BT 113.59 190.10 Td (Actual results could dif) Tj ET Q q 0 0 0 rg BT 207.00 190.10 Td (fer from these estimates.) Tj ET Q q 0 0 0 rg BT 310.11 190.10 Td (The following critical accounting policies are significantly ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (af) Tj ET Q q 0 0 0 rg BT 57.59 178.10 Td (fected by judgments, assumptions and estimates used in the preparation of the financial statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 154.10 Td (Accounts receivable are customer obligations due under normal trade terms. Uncollectibility of accounts receivable is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (not significant since most customers are bound by contract and are required to fund us for all the costs of an opportunity) Tj ET Q q 0 0 0 rg BT 534.50 142.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.10 Td (defined as an order created by an advertiser for a creator to write about the advertiser) Tj ET Q q 0 0 0 rg BT 390.48 130.10 Td () Tj ET Q q 0 0 0 rg BT 393.26 130.10 Td (s product. If a portion of the account ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.10 Td (balance is deemed uncollectible, we will either write-of) Tj ET Q q 0 0 0 rg BT 271.95 118.10 Td (f the amount owed or provide a reserve based on the uncollectible ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.10 Td (portion of the account. Management determines the collectibility of accounts by regularly evaluating individual customer ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.10 Td (receivables and considering a customer) Tj ET Q q 0 0 0 rg BT 207.53 94.10 Td () Tj ET Q q 0 0 0 rg BT 210.31 94.10 Td (s financial condition, credit history and current economic conditions. ) Tj ET Q q 0 0 0 rg BT 488.11 94.10 Td (W) Tj ET Q q 0 0 0 rg BT 496.74 94.10 Td (e have a reserve ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.83 82.10 Td ($31,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.33 82.10 Td ( for doubtful accounts as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.52 82.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.79 82.10 Td (. ) Tj ET Q q 0 0 0 rg BT 290.61 82.10 Td (W) Tj ET Q q 0 0 0 rg BT 299.24 82.10 Td (e believe that this estimate is reasonable, but there can be no ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 70.10 Td (assurance that the estimate will not change as a result of a change in economic conditions or business conditions within the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 58.10 Td (industry) Tj ET Q q 0 0 0 rg BT 82.13 58.10 Td (, the individual customers or our company) Tj ET Q q 0 0 0 rg BT 250.61 58.10 Td (. ) Tj ET Q q 0 0 0 rg BT 257.56 58.10 Td (Any adjustments to this account are reflected in the consolidated statements ) Tj ET Q endstream endobj 65 0 obj <>] /Rotate 0 /Contents 66 0 R>> endobj 66 0 obj <> stream BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 772.93359375 m 106.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (of operations as a general and administrative expense. Bad debt expense was less than 1% of revenue for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.51 742.10 Td (three and nine ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.45 730.10 Td ( ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.33 730.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.59 730.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.03 730.10 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.03 730.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 706.10 Td (Throughout 2013 and the first quarter of 2014, we developed our new web-based advertising exchange platform, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (IZEAx) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.55 694.10 Td (. ) Tj ET Q q 0 0 0 rg BT 82.87 694.10 Td (This platform will be utilized both internally and externally to facilitate native advertising campaigns on a greater ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (scale. In accordance with ) Tj ET Q q 0 0 0 rg BT 155.50 682.10 Td (ASC 350-40,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 208.29 682.10 Td ( Internal Use Softwar) Tj ET Q q 0 0 0 rg BT 294.30 682.10 Td (e) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.74 682.10 Td ( and ) Tj ET Q q 0 0 0 rg BT 317.63 682.10 Td (ASC 985-730, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 377.91 682.10 Td (Computer Softwar) Tj ET Q q 0 0 0 rg BT 451.16 682.10 Td (e Resear) Tj ET Q q 0 0 0 rg BT 485.49 682.10 Td (ch and ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (Development) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 102.75 670.10 Td (, research phase costs should be expensed as incurred and development phase costs including direct materials and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (services, payroll and benefits and interest costs may be capitalized. ) Tj ET Q q 0 0 0 rg BT 322.41 658.10 Td (As a result, we have capitalized $568,875 in direct ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (materials, payroll and benefit costs to software development costs in the consolidated balance sheet. ) Tj ET Q q 0 0 0 rg BT 452.47 646.10 Td (W) Tj ET Q q 0 0 0 rg BT 461.11 646.10 Td (e estimate the useful life ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (for ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 64.16 634.10 Td (IZEAx) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.71 634.10 Td ( will be 5 years, consistent with the amount of time our legacy platforms were in-service, and are amortizing the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (software development costs over this period.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 598.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 598.10 Td (e derive revenue from three sources: revenue from an advertiser when it pays for a social media publisher or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (influencer such as a blogger or tweeter \("creators"\) to share sponsored content with their social network audience \("Sponsored ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (Revenue"\), revenue when a publisher or company purchases custom branded content for use on its owned and operated sites, as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (well as third party content marketing and native advertising ef) Tj ET Q q 0 0 0 rg BT 298.35 562.10 Td (forts \("Content Revenue"\) and revenue derived from various ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (service and license fees char) Tj ET Q q 0 0 0 rg BT 163.64 550.10 Td (ged to users of our platforms \("Service Fee Revenue"\). Sponsored revenue is recognized and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (considered earned after an advertiser's sponsored content is posted through ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 351.70 538.10 Td (IZEAx) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.25 538.10 Td ( and shared through a creator's social network ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (for a requisite period of time. ) Tj ET Q q 0 0 0 rg BT 169.50 526.10 Td (The requisite period ranges from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.07 526.10 Td (3 days) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.90 526.10 Td ( for a tweet to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.93 526.10 Td (30 days) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.76 526.10 Td ( for a blog, video or other form of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (content. Management fees related to Sponsored Revenue from advertising campaigns managed by us are recognized ratably ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (over the term of the campaign which may range from a few days to months. Content Revenue is recognized when the content ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (is delivered to and accepted by the customer) Tj ET Q q 0 0 0 rg BT 226.88 490.10 Td (. Service fees char) Tj ET Q q 0 0 0 rg BT 302.49 490.10 Td (ged to customers are primarily related to subscription fees for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (dif) Tj ET Q q 0 0 0 rg BT 60.93 478.10 Td (ferent levels of service within a platform, licensing fees for white-label use of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 374.15 478.10 Td (IZEAx) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.69 478.10 Td (, early cash-out fees if a creator wishes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (to take proceeds earned for services from their account when the account balance is below certain minimum balance thresholds ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (and inactivity fees for dormant accounts. Service fees are recognized immediately when the service is performed or at the time ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (an account becomes dormant or is cashed out. Self-service advertisers must prepay for services by placing a deposit in their ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (account with the Company) Tj ET Q q 0 0 0 rg BT 156.83 430.10 Td (.) Tj ET Q q 0 0 0 rg BT 164.15 430.10 Td (The deposits are typically paid by the advertiser via credit card. ) Tj ET Q q 0 0 0 rg BT 422.66 430.10 Td (Advertisers who use us to manage ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (their social advertising campaigns or content requests may prepay for services or request credit terms. Payments received or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (billings in advance of services are recorded as unearned revenue until earned as described above. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 382.10 Td (All of our revenue is generated through the rendering of services and is recognized under the general guidelines of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (SAB ) Tj ET Q q 0 0 0 rg BT 71.77 370.10 Td (T) Tj ET Q q 0 0 0 rg BT 77.18 370.10 Td (opic 13 ) Tj ET Q q 0 0 0 rg BT 108.85 370.10 Td (A.1 which states that revenue will be recognized when it is realized or realizable and earned. ) Tj ET Q q 0 0 0 rg BT 484.34 370.10 Td (W) Tj ET Q q 0 0 0 rg BT 492.98 370.10 Td (e consider our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (revenue as generally realized or realizable and earned once \(i\) persuasive evidence of an arrangement exists, \(ii\) services have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (been rendered, \(iii\) the price to the advertiser or customer is fixed \(required to be paid at a set amount that is not subject to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (refund or adjustment\) and determinable, and \(iv\) collectibility is reasonably assured. ) Tj ET Q q 0 0 0 rg BT 392.49 334.10 Td (W) Tj ET Q q 0 0 0 rg BT 401.13 334.10 Td (e record revenue on the gross amount ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (earned sincewe generally are the primary obligor in the arrangement, take on credit risk, establish the pricing and determine ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (the service specifications. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 286.10 Td (Stock-based compensation is measured at the grant date, based on the fair value of the award, and is recognized as an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (expense over the employee) Tj ET Q q 0 0 0 rg BT 161.34 274.10 Td (s requisite service period.) Tj ET Q q 0 0 0 rg BT 268.35 274.10 Td (W) Tj ET Q q 0 0 0 rg BT 276.99 274.10 Td (e estimate the fair value of each stock option as of the date of grant ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (using the Black-Scholes pricing model.Options typically vest ratably over four years with one-fourth of options vesting one ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (year from the date of grant and the remaining optionsvesting monthly) Tj ET Q q 0 0 0 rg BT 330.11 250.10 Td (, in equal increments over the remaining three-year ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (periodand generally have five or ten-year contract lives.) Tj ET Q q 0 0 0 rg BT 283.60 238.10 Td (W) Tj ET Q q 0 0 0 rg BT 292.24 238.10 Td (e estimate the fair value of our common stock using the closing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (stock price of our common stock as quoted in the OTCQB marketplace on the date of the option award.) Tj ET Q q 0 0 0 rg BT 468.87 226.10 Td (W) Tj ET Q q 0 0 0 rg BT 477.51 226.10 Td (e estimate the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (volatility of our common stock at the date of grant based on the volatility of comparable peer companies that are publicly ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (traded and have had a longer trading history than us. ) Tj ET Q q 0 0 0 rg BT 262.26 202.10 Td (W) Tj ET Q q 0 0 0 rg BT 270.89 202.10 Td (e determine the expected life based on historical experience with similar ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (awards, giving consideration to the contractual terms, vesting schedules and post-vesting forfeitures. ) Tj ET Q q 0 0 0 rg BT 454.43 190.10 Td (W) Tj ET Q q 0 0 0 rg BT 463.07 190.10 Td (e use the risk-free ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (interest rate on the implied yield currently available on U.S. ) Tj ET Q q 0 0 0 rg BT 291.97 178.10 Td (T) Tj ET Q q 0 0 0 rg BT 297.72 178.10 Td (reasury issues with an equivalent remaining term approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.10 Td (equal to the expected life of the award. ) Tj ET Q q 0 0 0 rg BT 207.80 166.10 Td (W) Tj ET Q q 0 0 0 rg BT 216.44 166.10 Td (e have never paid any cash dividends on our common stock and do not anticipate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.10 Td (paying any cash dividends in the foreseeable future. ) Tj ET Q q 0 0 0 rg BT 260.02 154.10 Td (W) Tj ET Q q 0 0 0 rg BT 268.66 154.10 Td (e estimate forfeitures when recognizing compensation expense and this ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (estimate of forfeitures is adjusted over the requisite service period based on the extent to which actual forfeitures dif) Tj ET Q q 0 0 0 rg BT 514.65 142.10 Td (fer) Tj ET Q q 0 0 0 rg BT 525.35 142.10 Td (, or are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.10 Td (expected to dif) Tj ET Q q 0 0 0 rg BT 109.24 130.10 Td (fer) Tj ET Q q 0 0 0 rg BT 119.94 130.10 Td (, from such estimates.Changes in estimated forfeitures are recognized through a cumulative catch-up ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.10 Td (adjustment, which is recognized in the period of change, and a revised amount of unamortized compensation expense to be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.10 Td (recognized in future periods. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 84.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 84.10 Td (The following table shows the number of options granted under our May 201) Tj ET Q q 0 0 0 rg BT 394.46 84.10 Td (1 and ) Tj ET Q q 0 0 0 rg BT 418.34 84.10 Td (August 201) Tj ET Q q 0 0 0 rg BT 464.36 84.10 Td (1 Equity Incentive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 72.10 Td (Plans and the assumptions used to determine the fair value of those options during the quarterly periods in 2014 and 2015:) Tj ET Q endstream endobj 67 0 obj <>] /Rotate 0 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/GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.50 677.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 677.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 677.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 677.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 677.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 677.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 677.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 649.75 98.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 148.50 649.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 152.50 649.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.50 649.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 221.50 649.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 649.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.50 649.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 649.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 649.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 649.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 649.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 649.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 649.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 621.75 98.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 148.50 621.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 152.50 621.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.50 621.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 221.50 621.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 621.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.50 621.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 621.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 621.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 621.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 621.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 621.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 621.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 593.75 98.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 148.50 593.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 152.50 593.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.50 593.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 221.50 593.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 593.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.50 593.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.50 593.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 593.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 593.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 593.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 593.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 593.75 65.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 677.75 m 148.5 677.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 152.5 677.75 m 217.5 677.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 221.5 677.75 m 286.5 677.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 677.75 m 355.5 677.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 677.75 m 424.5 677.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 677.75 m 493.5 677.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 677.75 m 562.5 677.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.90 682.42 Td (Period Ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 157.20 692.42 Td (Total Options) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 168.35 682.42 Td (Granted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.45 722.32 Td (Weighted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.60 712.32 Td (Average Fair) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.70 702.32 Td (Value of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.85 692.32 Td (Common) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.10 682.32 Td (Stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.45 712.42 Td (Weighted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.90 702.42 Td (Average) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.85 692.42 Td (Expected) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.00 682.42 Td (Term) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.45 702.42 Td (Weighted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.90 692.42 Td (Average) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.95 682.42 Td (Volatility) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.45 712.42 Td (Weighted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.50 702.42 Td (Average Risk) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.35 692.42 Td (Free Interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.30 682.42 Td (Rate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.45 722.32 Td (Weighted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.60 712.32 Td (Average Fair) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.70 702.32 Td (Value of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.65 692.32 Td (Options) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.35 682.32 Td (Granted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 668.32 Td (March ) Tj ET Q q 0 0 0 rg BT 87.60 668.32 Td (31, ) Tj ET Q q 0 0 0 rg BT 102.60 668.32 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.15 668.32 Td (330,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.25 668.32 Td ($0.48) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.20 668.32 Td (5 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.05 668.32 Td (43.32%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.55 668.32 Td (1.60%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.25 668.32 Td ($0.19) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 654.32 Td (June ) Tj ET Q q 0 0 0 rg BT 79.83 654.32 Td (30, ) Tj ET Q q 0 0 0 rg BT 94.83 654.32 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.65 654.32 Td (1,066,680) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.25 654.32 Td ($0.46) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.20 654.32 Td (5 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.05 654.32 Td (41.38%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.55 654.32 Td (1.66%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.25 654.32 Td ($0.18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 640.32 Td (September ) Tj ET Q q 0 0 0 rg BT 104.26 640.32 Td (30, ) Tj ET Q q 0 0 0 rg BT 119.26 640.32 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.65 640.32 Td (1,992,151) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.25 640.32 Td ($0.38) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.20 640.32 Td (5 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.05 640.32 Td (40.38%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.55 640.32 Td (1.74%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.25 640.32 Td ($0.14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 626.32 Td (December ) Tj ET Q q 0 0 0 rg BT 102.58 626.32 Td (31, ) Tj ET Q q 0 0 0 rg BT 117.58 626.32 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.15 626.32 Td (970,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.25 626.32 Td ($0.26) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.20 626.32 Td (9 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.05 626.32 Td (46.76%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.55 626.32 Td (2.14%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.25 626.32 Td ($0.15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 612.32 Td (March ) Tj ET Q q 0 0 0 rg BT 87.60 612.32 Td (31, ) Tj ET Q q 0 0 0 rg BT 102.60 612.32 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.65 612.32 Td (1,868,333) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.25 612.32 Td ($0.32) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.20 612.32 Td (6 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.05 612.32 Td (58.58%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.55 612.32 Td (1.50%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.25 612.32 Td ($0.15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 598.32 Td (June ) Tj ET Q q 0 0 0 rg BT 79.83 598.32 Td (30, ) Tj ET Q q 0 0 0 rg BT 94.83 598.32 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.65 598.32 Td (1,185,333) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.25 598.32 Td ($0.40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.20 598.32 Td (6 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.05 598.32 Td (55.17%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.55 598.32 Td (1.58%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.25 598.32 Td ($0.19) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 584.32 Td (September ) Tj ET Q q 0 0 0 rg BT 104.26 584.32 Td (30, ) Tj ET Q q 0 0 0 rg BT 119.26 584.32 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.15 584.32 Td (697,356) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.25 584.32 Td ($0.40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.20 584.32 Td (6 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.05 584.32 Td (53.81%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.55 584.32 Td (1.78%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.25 584.32 Td ($0.18) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 568.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 556.25 Td (There were outstanding options to purchase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.17 556.25 Td (14,877,733) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.17 556.25 Td ( shares with a weighted average exercise price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.69 556.25 Td ($0.44) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.19 556.25 Td ( per ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 544.25 Td (share, of which options to purchase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.13 544.25 Td (6,614,375) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.13 544.25 Td ( shares were exercisable with a weighted average exercise price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.05 544.25 Td ($0.53) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.55 544.25 Td ( per ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 532.25 Td (share as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.26 532.25 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 175.52 532.25 Td (.) Tj ET Q q 0 0 0 rg BT 182.84 532.25 Td (There is no aggregate intrinsic value on the exercisable, outstanding options as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 520.25 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.26 520.25 Td ( since the weighted average exercise price per share exceeded the market price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.86 520.25 Td ($0.42) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.36 520.25 Td ( of our common ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 508.25 Td (stock on such date. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 484.25 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 484.25 Td (e account for derivative instruments in accordance with ) Tj ET Q q 0 0 0 rg BT 318.44 484.25 Td (ASC 815, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 360.39 484.25 Td (Derivatives and Hedging) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.93 484.25 Td ( , which requires ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 472.25 Td (additional disclosures about the our objectives and strategies for using derivative instruments, how the derivative instruments ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 460.25 Td (and related hedged items are accounted for) Tj ET Q q 0 0 0 rg BT 221.18 460.25 Td (, and how the derivative instruments and related hedging items af) Tj ET Q q 0 0 0 rg BT 482.31 460.25 Td (fect the financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 448.25 Td (statements. ) Tj ET Q q 0 0 0 rg BT 97.03 448.25 Td (W) Tj ET Q q 0 0 0 rg BT 105.67 448.25 Td (e do not use derivative instruments to hedge exposures to cash flow) Tj ET Q q 0 0 0 rg BT 375.23 448.25 Td (, market or foreign currency risk. ) Tj ET Q q 0 0 0 rg BT 510.00 448.25 Td (T) Tj ET Q q 0 0 0 rg BT 515.41 448.25 Td (erms of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 436.25 Td (convertible debt and equity instruments are reviewed to determine whether or not they contain embedded derivative ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 424.25 Td (instruments that are required under ) Tj ET Q q 0 0 0 rg BT 191.90 424.25 Td (ASC 815 to be accounted for separately from the host contract, and recorded on the balance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 412.25 Td (sheet at fair value. ) Tj ET Q q 0 0 0 rg BT 125.62 412.25 Td (The fair value of derivative liabilities, if any) Tj ET Q q 0 0 0 rg BT 302.12 412.25 Td (, is required to be revalued at each reporting date, with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 400.25 Td (corresponding changes in fair value recorded in current period operating results. Pursuant to ) Tj ET Q q 0 0 0 rg BT 420.44 400.25 Td (ASC 815, an evaluation of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 388.25 Td (specifically identified conditions is made to determine whether the fair value of warrants issued is required to be classified as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 376.25 Td (equity or as a derivative liability) Tj ET Q q 0 0 0 rg BT 179.03 376.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 340.25 Td (Recent ) Tj ET Q q 0 0 0 rg BT 81.38 340.25 Td (Accounting Pr) Tj ET Q q 0 0 0 rg BT 143.13 340.25 Td (onouncements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 328.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 316.25 Td (There are new accounting pronouncements issued by the Financial ) Tj ET Q q 0 0 0 rg BT 354.53 316.25 Td (Accounting Standards Board \("F) Tj ET Q q 0 0 0 rg BT 484.79 316.25 Td (ASB"\) which are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 304.25 Td (not yet ef) Tj ET Q q 0 0 0 rg BT 87.58 304.25 Td (fective.Management does not believe any of these accounting pronouncements will have a material impact on our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 292.25 Td (financial position or operating results.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 280.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 268.25 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 268.25 Td (In May 2014, the F) Tj ET Q q 0 0 0 rg BT 162.20 268.25 Td (ASB issued ) Tj ET Q q 0 0 0 rg BT 211.10 268.25 Td (Accounting Standards Update No. 2014-09, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 389.12 268.25 Td (Revenue fr) Tj ET Q q 0 0 0 rg BT 431.78 268.25 Td (om Contracts with Customers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 256.25 Td (\(ASU 2014-09\), which supersedes nearly all existing revenue recognition guidance under U.S. GAAP) Tj ET Q q 0 0 0 rg BT 456.85 256.25 Td (. ) Tj ET Q q 0 0 0 rg BT 461.67 256.25 Td (The core principle of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 244.25 Td (ASU 2014-09 is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 232.25 Td (the consideration to which an entity expects to be entitled for those goods or services. ) Tj ET Q q 0 0 0 rg BT 394.36 232.25 Td (ASU 2014-09 defines a five step process ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 220.25 Td (to achieve this core principle and, in doing so, more judgment and estimates may be required within the revenue recognition) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 208.25 Td (process than are required under existing U.S. GAAP) Tj ET Q q 0 0 0 rg BT 258.56 208.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 184.25 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 184.25 Td (The standard is ef) Tj ET Q q 0 0 0 rg BT 157.18 184.25 Td (fective for annual periods beginning after December 15, 2016, and interim periods therein, using ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 172.25 Td (either of the following transition methods: \(i\) a full retrospective approach reflecting the application of the standard in each ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 160.25 Td (prior reporting period with the option to elect certain practical expedients, or \(ii\) a retrospective approach with the cumulative ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 148.25 Td (ef) Tj ET Q q 0 0 0 rg BT 57.59 148.25 Td (fect of initially adopting ) Tj ET Q q 0 0 0 rg BT 156.46 148.25 Td (ASU 2014-09 recognized at the date of adoption \(which includes additional footnote disclosures\). ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 136.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 136.25 Td (e are currently evaluating the impact of the adoption of ) Tj ET Q q 0 0 0 rg BT 280.78 136.25 Td (ASU 2014-09 on our consolidated financial statements and have not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 124.25 Td (yet determined the method by which we will adopt the standard in 2017.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 76.25 Td (ITEM 3 QUANTIT) Tj ET Q q 0 0 0 rg BT 140.10 76.25 Td (A) Tj ET Q q 0 0 0 rg BT 146.58 76.25 Td (TIVE ) Tj ET Q q 0 0 0 rg BT 172.98 76.25 Td (AND QUALIT) Tj ET Q q 0 0 0 rg BT 235.86 76.25 Td (A) Tj ET Q q 0 0 0 rg BT 242.34 76.25 Td (TIVE DISCLOSURES ) Tj ET Q q 0 0 0 rg BT 341.82 76.25 Td (ABOUT) Tj ET Q q 0 0 0 rg BT 377.20 76.25 Td ( MARKET) Tj ET Q q 0 0 0 rg BT 424.52 76.25 Td ( RISK) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 64.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 52.25 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 52.25 Td (Not applicable to smaller reporting companies.) Tj ET Q endstream endobj 69 0 obj <>] /Rotate 0 /Contents 70 0 R>> endobj 70 0 obj <> stream BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 772.93359375 m 106.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (32) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (ITEM 4 CONTROLS ) Tj ET Q q 0 0 0 rg BT 152.24 718.10 Td (AND PROCEDURES ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 694.10 Td (Disclosure controls and procedures are controls and other procedures that are designed to ensure that information ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (required to be disclosed by us in the reports that we file or submit under the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 438.23 682.10 Td (Act of 1934, as amended \(the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 95.81 670.10 Td (Act\), is recorded, processed, summarized and reported within the time periods specified in the SEC) Tj ET Q q 0 0 0 rg BT 500.41 670.10 Td (s rules and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (forms.Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (information required to be disclosed by us in the reports that we file under the Exchange ) Tj ET Q q 0 0 0 rg BT 405.45 646.10 Td (Act is accumulated and communicated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (to our management, including our principal executive and financial of) Tj ET Q q 0 0 0 rg BT 329.72 634.10 Td (ficer) Tj ET Q q 0 0 0 rg BT 347.64 634.10 Td (, as appropriate to allow timely decisions regarding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (required disclosures.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 598.10 Td (In designing and evaluating the disclosure controls and procedures, our management recognizes that any controls and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (objectives, and our management necessarily was required to apply its judgment in evaluating the cost-benefit relationship of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (possible controls and procedures. Furthermore, controls and procedures could be circumvented by the individual acts of some ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (persons, by collusion or two or more people or by management override of the control. Misstatements due to error or fraud may ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (occur and not be detected on a timely basis. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (Evaluation of Disclosur) Tj ET Q q 0 0 0 rg BT 149.83 514.10 Td (e Contr) Tj ET Q q 0 0 0 rg BT 182.14 514.10 Td (ols and Pr) Tj ET Q q 0 0 0 rg BT 225.30 514.10 Td (ocedur) Tj ET Q q 0 0 0 rg BT 254.56 514.10 Td (es) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 490.10 Td (In connection with the preparation of this quarterly report on Form 10-Q for the period ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.00 490.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.26 490.10 Td (, an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (evaluation was performed under the supervision and with the participation of the Company's management including our Chief ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (Executive Of) Tj ET Q q 0 0 0 rg BT 102.85 466.10 Td (ficer \("CEO"\) and Principal Financial and ) Tj ET Q q 0 0 0 rg BT 275.13 466.10 Td (Accounting Of) Tj ET Q q 0 0 0 rg BT 334.66 466.10 Td (ficer \("PFO"\) to determine the ef) Tj ET Q q 0 0 0 rg BT 466.21 466.10 Td (fectiveness of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (design and operation of our disclosure controls and procedures \(as defined in Rules 13a-15\(e\) and 15d-15\(e\) under the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 91.37 442.10 Td (Act\) as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.30 442.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 213.56 442.10 Td (.Based on this evaluation, our management concluded that our disclosure controls ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (and procedures were ef) Tj ET Q q 0 0 0 rg BT 142.82 430.10 Td (fective as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.18 430.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.45 430.10 Td ( to provide reasonable assurance that the information required to be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (disclosed by us in reports or submitted under the Exchange ) Tj ET Q q 0 0 0 rg BT 288.29 418.10 Td (Act is recorded, processed, summarized, and reported within the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (time periods specified in the rules and forms of the SEC and that such information is accumulated and communicated to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (management, including the Company's principal executive and financial of) Tj ET Q q 0 0 0 rg BT 349.58 394.10 Td (ficers, as appropriate, to allow timely decisions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (regarding required disclosure. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (Changes in Internal Contr) Tj ET Q q 0 0 0 rg BT 162.89 358.10 Td (ol over) Tj ET Q q 0 0 0 rg BT 191.86 358.10 Td ( Financial Reporting) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 346.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 334.10 Td (Our management is responsible for establishing and maintaining adequate internal control over financial reporting \(as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (defined in Rules 13a-15\(f\) and 15d-15\(f\) under the Exchange ) Tj ET Q q 0 0 0 rg BT 297.42 322.10 Td (Act\). Internal control over financial reporting is a process ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (designed by) Tj ET Q q 0 0 0 rg BT 97.40 310.10 Td (, or under the supervision of, our principal executive of) Tj ET Q q 0 0 0 rg BT 317.98 310.10 Td (ficer and principal financial of) Tj ET Q q 0 0 0 rg BT 439.41 310.10 Td (ficer and ef) Tj ET Q q 0 0 0 rg BT 484.75 310.10 Td (fected by our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (Board of Directors, management and other personnel, to provide reasonable assurance regarding the reliability of our financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (reporting and the preparation of financial statements for external purposes in accordance with accounting principles generally ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (accepted in the United States of ) Tj ET Q q 0 0 0 rg BT 178.85 274.10 Td (America. Internal control over financial reporting includes policies and procedures that:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 250.10 Td (\(i\) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the Company) Tj ET Q q 0 0 0 rg BT 520.81 250.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 238.10 Td (transactions; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 220.10 Td (\(ii\) provide reasonable assurance that transactions are recorded as necessary for the preparation of our financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 208.10 Td (statements in accordance with accounting principles generally accepted in the United States of ) Tj ET Q q 0 0 0 rg BT 465.58 208.10 Td (America, and that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 196.10 Td (receipts and expenditures are made only in accordance with authorizations of our management and directors; and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 178.10 Td (\(iii\) provide reasonable assurance regarding prevention or timely detection of any unauthorized acquisition, use or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 166.10 Td (disposition of our assets that could have a material ef) Tj ET Q q 0 0 0 rg BT 298.26 166.10 Td (fect on the financial statements. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 142.10 Td (Because of its inherent limitations, internal control over financial reporting may not prevent or detect financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.10 Td (statement misstatements. ) Tj ET Q q 0 0 0 rg BT 151.93 130.10 Td (Also, projections of any evaluation of internal control ef) Tj ET Q q 0 0 0 rg BT 376.96 130.10 Td (fectiveness to future periods are subject to the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.10 Td (risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.10 Td (or procedures may deteriorate.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 82.10 Td (There were no changes in our internal control over financial reporting \(as defined in Exchange ) Tj ET Q q 0 0 0 rg BT 466.13 82.10 Td (Act Rules 13a-15\(f\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 70.10 Td (and 15d-15\(f\)\) that occurred during the quarter ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.58 70.10 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.84 70.10 Td ( that have materially af) Tj ET Q q 0 0 0 rg BT 438.84 70.10 Td (fected, or are reasonably ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 58.10 Td (likely to materially af) Tj ET Q q 0 0 0 rg BT 136.18 58.10 Td (fect, our internal control over financial reporting. ) Tj ET Q endstream endobj 71 0 obj <>] /Rotate 0 /Contents 72 0 R>> endobj 72 0 obj <> stream BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 772.93359375 m 106.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (33) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 227.55 742.25 Td (P) Tj ET Q q 0 0 0 rg BT 232.92 742.25 Td (AR) Tj ET Q q 0 0 0 rg BT 247.01 742.25 Td (T) Tj ET Q q 0 0 0 rg BT 253.50 742.25 Td ( II - OTHER INFORMA) Tj ET Q q 0 0 0 rg BT 358.87 742.25 Td (TION) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 706.25 Td (ITEM ) Tj ET Q q 0 0 0 rg BT 79.17 706.25 Td (1 ) Tj ET Q q 0 0 0 rg BT 86.67 706.25 Td ( ) Tj ET Q q 0 0 0 rg BT 94.17 706.25 Td (LEGAL) Tj ET Q q 0 0 0 rg BT 128.63 706.25 Td ( ) Tj ET Q q 0 0 0 rg BT 131.13 706.25 Td (PROCEEDINGS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 682.25 Td (From time to time, we may become involved in various lawsuits and legal proceedings that arise in the ordinary course ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.25 Td (of business. Litigation is, however) Tj ET Q q 0 0 0 rg BT 187.36 670.25 Td (, subject to inherent uncertainties, and an adverse result in these or other matters may arise ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.25 Td (from time to time that may harm our business. Other than as described below) Tj ET Q q 0 0 0 rg BT 358.16 658.25 Td (, we are currently not aware of any legal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.25 Td (proceedings or claims that we believe would or could have, individually or in the aggregate, a material adverse ef) Tj ET Q q 0 0 0 rg BT 503.54 646.25 Td (fect on us.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.25 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 622.25 Td (On October 17, 2012, Blue Calypso, Inc. filed a complaint against us alleging that we infringe their patents related to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.25 Td (peer) Tj ET Q q 0 0 0 rg BT 67.01 610.25 Td (-to-peer advertising between mobile communication devices. On July 19, 2013, Blue Calypso) Tj ET Q q 0 0 0 rg BT 447.20 610.25 Td (s case against us was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.25 Td (consolidated, along with other patent infringement cases against Groupon, Inc., ) Tj ET Q q 0 0 0 rg BT 369.54 598.25 Td (Y) Tj ET Q q 0 0 0 rg BT 375.76 598.25 Td (elp, Inc. and Foursquare Labs, Inc., into Blue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.25 Td (Calypso, Inc. v) Tj ET Q q 0 0 0 rg BT 109.90 586.25 Td (. Groupon et al for all pretrial purposes, including discovery and claim construction.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.25 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 562.25 Td (On ) Tj ET Q q 0 0 0 rg BT 100.17 562.25 Td (August 17, 2015, we entered into a settlement agreement with Blue Calypso ending all outstanding litigation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.25 Td (between our two companies. Under the agreement, we agreed to pay Blue Calypso a settlement amount of $390,506, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.25 Td (representing a royalty fee of 4.125% of revenue from our legacy platforms: SocialSpark, Sponsored ) Tj ET Q q 0 0 0 rg BT 451.36 538.25 Td (T) Tj ET Q q 0 0 0 rg BT 456.77 538.25 Td (weets, and ) Tj ET Q q 0 0 0 rg BT 501.30 538.25 Td (W) Tj ET Q q 0 0 0 rg BT 509.94 538.25 Td (eReward. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.25 Td (This royalty fee was assessed on those legacy platforms from their inception until the time they were all discontinued by the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.25 Td (end of 2014. Blue Calypso has dismissed with prejudice all pending litigation against us and has granted us a worldwide ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.25 Td (covenant not to sue covering the IZEAx and Ebyline platforms or any reasonable iteration thereof. ) Tj ET Q q 0 0 0 rg BT 445.80 502.25 Td (W) Tj ET Q q 0 0 0 rg BT 454.43 502.25 Td (e developed the IZEAx ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.25 Td (and Ebyline platforms in a manner such that we believe they do not infringe Blue Calypso's current patents.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 454.25 Td (ITEM ) Tj ET Q q 0 0 0 rg BT 79.17 454.25 Td (1A) Tj ET Q q 0 0 0 rg BT 90.84 454.25 Td ( ) Tj ET Q q 0 0 0 rg BT 93.34 454.25 Td ( ) Tj ET Q q 0 0 0 rg BT 100.84 454.25 Td (RISK ) Tj ET Q q 0 0 0 rg BT 127.79 454.25 Td (F) Tj ET Q q 0 0 0 rg BT 133.16 454.25 Td (ACT) Tj ET Q q 0 0 0 rg BT 154.09 454.25 Td (ORS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.25 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 86.00 430.25 Td (In addition to the information set forth at the beginning of Management's Discussion and ) Tj ET Q q 0 0 0 rg BT 445.16 430.25 Td (Analysis entitled "Special ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 418.25 Td (Note Regar) Tj ET Q q 0 0 0 rg BT 95.45 418.25 Td (ding Forwar) Tj ET Q q 0 0 0 rg BT 145.92 418.25 Td (d-Looking Information", investors should consider that ther) Tj ET Q q 0 0 0 rg BT 385.02 418.25 Td (e ar) Tj ET Q q 0 0 0 rg BT 400.48 418.25 Td (e numer) Tj ET Q q 0 0 0 rg BT 432.60 418.25 Td (ous and varied risks, known ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 406.25 Td (and unknown, that may pr) Tj ET Q q 0 0 0 rg BT 154.35 406.25 Td (event us fr) Tj ET Q q 0 0 0 rg BT 195.63 406.25 Td (om achieving our goals.If any of these risks actually occur) Tj ET Q q 0 0 0 rg BT 433.92 406.25 Td (, our business, financial ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 394.25 Td (condition or r) Tj ET Q q 0 0 0 rg BT 105.19 394.25 Td (esults of operation may be materially and adversely affected.In such case, the trading price of our common ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 382.25 Td (stock could decline and investors could lose all or part of their investment.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.25 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 213.80 358.25 Td (Risks Related to our) Tj ET Q q 0 0 0 rg BT 300.56 358.25 Td ( Business and Industry) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.25 Td () Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 334.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.15 334.25 Td (e have a history of losses, expect future losses and cannot assure you that we will achieve profitability or obtain the ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 322.25 Td (financing necessary for future growth.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 298.25 Td (W) Tj ET Q q 0 0 0 rg BT 97.64 298.25 Td (e have incurred significant net losses and negative cash flow from operations since our inception which has resulted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.25 Td (in a total accumulated deficit of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 179.39 286.25 Td ($31,842,640) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.39 286.25 Td ( as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 253.55 286.25 Td (September30, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.81 286.25 Td (. ) Tj ET Q q 0 0 0 rg BT 343.26 286.25 Td (Although our revenue has increased since inception, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.25 Td (we have not achieved profitability and cannot be certain that we will be able to sustain these growth rates or realize suf) Tj ET Q q 0 0 0 rg BT 525.48 274.25 Td (ficient ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.25 Td (revenue to achieve profitability) Tj ET Q q 0 0 0 rg BT 174.58 262.25 Td (. If we achieve profitability) Tj ET Q q 0 0 0 rg BT 288.05 262.25 Td (, we may not be able to sustain it. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 238.25 Td (Exercise of stock options, warrants and other securities will dilute your percentage of ownership and could cause our stock ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 226.25 Td (price to fall.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 99.71 226.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 202.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.44 202.25 Td (November6, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 185.15 202.25 Td (, we have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.69 202.25 Td (104,002,308) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.69 202.25 Td ( shares of common stock issued, outstanding stock options to purchase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.25 Td (15,044,492) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 190.25 Td ( shares of common stock at an average price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.48 190.25 Td ($0.44) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.98 190.25 Td ( per share, outstanding warrantsto purchase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.25 190.25 Td (10,461,863) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.25 190.25 Td ( shares ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.25 Td (of common stock at an average price of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 210.49 178.25 Td ($0.46) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.99 178.25 Td ( per share, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.79 178.25 Td (221,539) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.29 178.25 Td ( shares of vested, yet unissued, shares of restricted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.25 Td (common stock. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 142.25 Td (Additionally) Tj ET Q q 0 0 0 rg BT 135.90 142.25 Td (, we have reserved shares to issue stock options, restricted stock or other awards to purchase or receive up ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.28 130.25 Td (5,040,524) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 100.28 130.25 Td ( shares of common stock under our May 201) Tj ET Q q 0 0 0 rg BT 278.76 130.25 Td (1 Equity Incentive Plan and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.34 130.25 Td (1,367,351) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.34 130.25 Td ( shares of common stock under ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.25 Td (our 2014 Employee Stock Purchase Plan. In the future, we may grant additional stock options, warrants and convertible ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.25 Td (securities. ) Tj ET Q q 0 0 0 rg BT 95.08 106.25 Td (The exercise, conversion or exchange of stock options, warrants or convertible securities will dilute the percentage ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.25 Td (ownership of our other stockholders. Sales of a substantial number of shares of our common stock could cause the price of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.25 Td (common stock to fall and could impair our ability to raise capital by selling additional securities. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 58.25 Td (There may be substantial issuances of our common stock to satisfy our obligations under the Stock Purchase ) Tj ET Q q 0 0 0 rg BT 499.95 58.25 Td (Agreement for ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 46.25 Td (our acquisition of Ebyline, Inc.) Tj ET Q endstream endobj 73 0 obj <>] /Rotate 0 /Contents 74 0 R>> endobj 74 0 obj <> stream BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 772.93359375 m 106.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (34) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 725.10 Td (On January 30, 2015, we purchased of all of the outstanding shares of capital stock of Ebyline pursuant to the terms of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 713.10 Td (a Stock Purchase ) Tj ET Q q 0 0 0 rg BT 120.26 713.10 Td (Agreement, dated as of January 27, 2015, by and among IZEA, Ebyline and the stockholders of Ebyline. ) Tj ET Q q 0 0 0 rg BT 543.58 713.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 701.10 Td (aggregate consideration payable by us will be an amount in the aggregate of up to $8,850,000, including a cash payment made ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 689.10 Td (at closing of $1,200,000, a stock issuance valued at $250,000 paid on July 30, 2015, $1,877,064 in two equal installments of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 677.10 Td ($938,532 on the first and second anniversaries of the closing and up to $5,500,000 in performance payments paid over three ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 665.10 Td (years, subject to Ebyline meeting certain revenue tar) Tj ET Q q 0 0 0 rg BT 259.73 665.10 Td (gets for each of the three years ending December 31, 2015, 2016 and 2017. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 653.10 Td (The $1,877,064 in annual payments and the $5,500,000 in performance payments may be made in cash or common stock, at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 641.10 Td (our option. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 623.10 Td (If Ebyline achieves all of the revenue tar) Tj ET Q q 0 0 0 rg BT 248.24 623.10 Td (gets, and we choose to issue shares of our common stock to satisfy the future ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 611.10 Td (payment obligations, stock payments are to be based on the 30-day volume-weighted average closing price prior to the payment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 599.10 Td (date. ) Tj ET Q q 0 0 0 rg BT 71.47 599.10 Td (The issuance of a substantial number of shares of common stock to satisfy the future payment obligations could ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 587.10 Td (significantly dilute the percentage ownership interests of and may be at prices more beneficial than those paid by our existing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 575.10 Td (common stockholders. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 551.10 Td (There may be substantial sales of our common stockunder the prospectus relating to our 2013 and 2014 Private ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 539.10 Td (Placements, which could cause our stock price todrop.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 276.11 539.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 515.10 Td (As described in Notes 4 and 6 of the Notes to the Unaudited Consolidated Financial Statements, we have two ef) Tj ET Q q 0 0 0 rg BT 533.50 515.10 Td (fective ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 503.10 Td (registration statements \(File No. 333-191743 and File No. 333-197482\) covering the resale of 27,565,517) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.42 503.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.92 503.10 Td (shares of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 491.10 Td (common stock that may be of) Tj ET Q q 0 0 0 rg BT 168.40 491.10 Td (fered by certain stockholders who participated in our 2013 Private Placement and loan ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 479.10 Td (consideration from ) Tj ET Q q 0 0 0 rg BT 127.76 479.10 Td (August through September 2013 or who obtained restricted shares of common stock for services. ) Tj ET Q q 0 0 0 rg BT 520.82 479.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 467.10 Td (number of shares the selling stockholders may sell consists of 25,566,053 shares of common stock that are currently issued and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 455.10 Td (outstanding and 1,999,464 shares of common stock that they may receive if they exercise their warrants. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 431.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 431.10 Td (e also have a third ef) Tj ET Q q 0 0 0 rg BT 177.47 431.10 Td (fective registration statement \(File No. 333-195081\) covering the resale of 68,571,456 sharesof ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 419.10 Td (our common stock that may be of) Tj ET Q q 0 0 0 rg BT 184.23 419.10 Td (fered by certain stockholders who participated in our 2014 Private Placement. ) Tj ET Q q 0 0 0 rg BT 500.34 419.10 Td (The number of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 407.10 Td (shares the selling stockholders may sell consists of 60,641,000 shares of common stock that are currently issued and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 395.10 Td (outstanding and 7,930,456 shares of common stock that they may receive if they exercise their warrants. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 371.10 Td (There are currently no agreements or understandings in place with these selling stockholders to restrict their sale of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 359.10 Td (those shares. Sales of a substantial number of shares of our common stockby the selling stockholders over a short period of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 347.10 Td (time could cause themarket price of our common stock todrop and could impair our ability to raise capital in the future by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 335.10 Td (selling additional securities.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 311.10 Td (ITEM ) Tj ET Q q 0 0 0 rg BT 79.17 311.10 Td (2 ) Tj ET Q q 0 0 0 rg BT 86.67 311.10 Td ( ) Tj ET Q q 0 0 0 rg BT 94.17 311.10 Td (UNREGISTERED ) Tj ET Q q 0 0 0 rg BT 176.69 311.10 Td (SALES ) Tj ET Q q 0 0 0 rg BT 210.87 311.10 Td (OF) Tj ET Q q 0 0 0 rg BT 224.39 311.10 Td ( ) Tj ET Q q 0 0 0 rg BT 226.89 311.10 Td (EQUITY) Tj ET Q q 0 0 0 rg BT 265.97 311.10 Td ( ) Tj ET Q q 0 0 0 rg BT 268.47 311.10 Td (SECURITIES ) Tj ET Q q 0 0 0 rg BT 331.00 311.10 Td (AND ) Tj ET Q q 0 0 0 rg BT 355.17 311.10 Td (USE ) Tj ET Q q 0 0 0 rg BT 377.12 311.10 Td (OF) Tj ET Q q 0 0 0 rg BT 390.63 311.10 Td ( ) Tj ET Q q 0 0 0 rg BT 393.13 311.10 Td (PROCEEDS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 299.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 287.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 287.10 Td (On July 30, 2015, pursuant to the terms of a Stock Purchase ) Tj ET Q q 0 0 0 rg BT 327.64 287.10 Td (Agreement, dated as of January 27, 2015, by and among ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 275.10 Td (IZEA, Ebyline and the stockholders of Ebyline, we issued 636,294 shares of restricted common stock to the former Ebyline ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 263.10 Td (shareholders to satisfy the $250,000 purchase obligation that was due on such date. ) Tj ET Q q 0 0 0 rg BT 387.52 263.10 Td (The issuance of the securities was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 251.10 Td (completed in accordance with the exemption provided by Section 4\(a\)\(2\) of the Securities ) Tj ET Q q 0 0 0 rg BT 411.83 251.10 Td (Act of 1933, as amended.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 227.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 227.10 Td (The Company issued 43,830,802 shares of common stock pursuant to its warrant exercise of) Tj ET Q q 0 0 0 rg BT 455.46 227.10 Td (fer) Tj ET Q q 0 0 0 rg BT 466.16 227.10 Td (, as described in Notes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 215.10 Td (4 and 6 of the Notes to the Unaudited Consolidated Financial Statements. ) Tj ET Q q 0 0 0 rg BT 348.65 215.10 Td (The issuance of these shares was a private placement ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 203.10 Td (under Section 4\(a\)\(2\) of the Securities ) Tj ET Q q 0 0 0 rg BT 204.95 203.10 Td (Act. ) Tj ET Q q 0 0 0 rg BT 226.71 203.10 Td (The resale of these shares was registered as described in those Notes.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 179.10 Td (ITEM 3 DEF) Tj ET Q q 0 0 0 rg BT 113.43 179.10 Td (AUL) Tj ET Q q 0 0 0 rg BT 133.62 179.10 Td (TS UPON SENIOR SECURITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 155.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 155.10 Td (None) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 131.10 Td (ITEM 4 MINE SAFETY) Tj ET Q q 0 0 0 rg BT 162.97 131.10 Td ( DISCLOSURES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 107.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 107.10 Td (Not applicable) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 83.10 Td (ITEM 5 - OTHER INFORMA) Tj ET Q q 0 0 0 rg BT 179.26 83.10 Td (TION) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 59.10 Td (None) Tj ET Q endstream endobj 75 0 obj <>] /Rotate 0 /Contents 76 0 R>> endobj 76 0 obj <> stream BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 772.93359375 m 106.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (35) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 281.80 742.25 Td (EXHIBITS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 64.25 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 61.50 731.75 30.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 91.50 731.75 23.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 114.50 731.75 446.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 61.50 685.75 30.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 91.50 685.75 23.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 114.50 685.75 446.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 61.50 639.75 30.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 91.50 639.75 23.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 114.50 639.75 446.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 61.50 593.75 30.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 91.50 593.75 23.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 114.50 593.75 446.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 61.50 533.75 30.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 91.50 533.75 23.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 114.50 533.75 446.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 61.50 473.75 30.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 91.50 473.75 23.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 114.50 473.75 446.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 61.50 423.75 30.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 91.50 423.75 23.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 114.50 423.75 446.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 61.50 373.75 30.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 91.50 373.75 23.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 114.50 373.75 446.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 61.50 323.75 30.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 91.50 323.75 23.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 114.50 323.75 446.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 61.50 273.75 30.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 91.50 273.75 23.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 114.50 273.75 446.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 61.50 223.75 30.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 91.50 223.75 23.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 114.50 223.75 446.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 61.50 173.75 30.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 91.50 173.75 23.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 114.50 173.75 446.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 61.50 103.75 30.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 91.50 103.75 23.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 114.50 103.75 446.00 -15.00 re f /GS0 gs BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 722.32 Td (3.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 722.32 Td (Articles of Incorporation \(Incorporated by reference to the Companys registration statement on Form S-1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 712.32 Td (filed with the SEC on July 2, 2010\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 699.32 Td (3.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 699.32 Td (Certificate of Amendment to the Articles of Incorporation \(Incorporated by reference to the Companys) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 689.32 Td (current report on Form 8-K filed with the SEC on February 15, 2013\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 676.32 Td (3.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 676.32 Td (Certificate of Amendment to the Articles of Incorporation \(Incorporated by reference to the Companys) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 666.32 Td (current report on Form 8-K filed with the SEC on May 16, 2011\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 653.32 Td (3.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 653.32 Td (Bylaws \(Incorporated by reference to the Companys registration statement on Form S-1 filed with the SEC) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 643.32 Td (on July 2, 2010\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 630.32 Td (3.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 630.32 Td (Certificate of Designation \(Incorporated by reference to the Companys current report on Form 8-K filed with) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 620.32 Td (the SEC on May 27, 2011\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 607.32 Td (3.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 607.32 Td (Amendment to Certificate of Designation \(Incorporated by reference to the Companys current report on) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 597.32 Td (Form 8-K filed with the SEC on May 27, 2011\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 584.32 Td (3.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 583.42 Td (Certificate of Change of IZEA, Inc., filed with the Nevada Secretary of State on July 30, 2012 \(Incorporated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 573.42 Td (by reference to the Companys current report on Form 8-K filed with the SEC on August 1, 2012\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 559.32 Td (3.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 558.87 Td (Certificate of Amendment to Articles of Incorporation filed with the Secretary of State of the State of Nevada) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 548.87 Td (on April 17, 2014 \(Incorporated by reference to the Companys current report on Form 8-K filed with the) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 538.87 Td (SEC on April 18, 2014\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 524.32 Td (3.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 523.87 Td (Certificate of Withdrawal of Certificate of Designation filed with the Secretary of State of the State of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 513.87 Td (Nevada effective January 23, 2015 \(Incorporated by reference to the Companys current report on Form 8-K) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 503.87 Td (filed with the SEC on January 29, 2015\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 489.32 Td (4.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 488.87 Td (Form of Warrant to Purchase Common Stock of IZEA, Inc. issued to Investors in the 2013 Private Placement) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 478.87 Td (\(Incorporated by reference to Form 8-K, filed with the SEC on August 21, 2013\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 464.32 Td (4.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 463.87 Td (Form of Warrant to Purchase Common Stock of IZEA, Inc. issued to Investors in the 2014 Private Placement) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 453.87 Td (\(Incorporated by reference to Form 8-K, filed with the SEC on February 24, 2014\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 439.32 Td (4.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 438.87 Td (Form of Warrant Amendment and Exercise Agreement dated July 20, 2015 between the Company and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 428.87 Td (Warrant Holders \(Incorporated by reference to Form 8-K, filed with the SEC on July 23, 2015\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 414.32 Td (10.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 413.87 Td (Amended 2011 Equity Incentive Plan as of February6, 2013 \(Incorporated by reference to Form 10-K, filed) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 403.87 Td (with the SEC on March29, 2013\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 389.32 Td (10.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 388.87 Td (Financing Agreement between the Company and Bridge Bank, dated March1, 2013 \(Incorporated by) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 378.87 Td (reference to Form 10-K, filed with the SEC on March29, 2013\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 364.32 Td (10.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 363.87 Td (Form of Securities Purchase Agreement executed by IZEA, Inc. and Investors in the 2013 Private Placement) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 353.87 Td (\(Incorporated by reference to Form 8-K, filed with the SEC on August 21, 2013\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 339.32 Td (10.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 338.87 Td (Form of Securities Purchase Agreement, dated as of February 12, 2014, by and among IZEA, Inc. and the) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 328.87 Td (Investors \(Incorporated by reference to Form 8-K, filed with the SEC on February 19, 2014\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 314.32 Td (10.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 313.87 Td (Form of Registration Rights Agreement, dated as of February 21, 2014, among IZEA, Inc. and each of the) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 303.87 Td (Investors \(Incorporated by reference to Form 8-K, filed with the SEC on February 24, 2014\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 289.32 Td (10.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 288.87 Td (Amended and Restated 2011 Equity Incentive Plan as of April 16, 2014 \(Incorporated by reference to the) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 278.87 Td (Companys current report on Form 8-K filed with the SEC on April 18, 2014\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 264.32 Td (10.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 263.87 Td (2014 Employee Stock Purchase Plan \(Incorporated by reference to the Companys current report on Form 8-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 253.87 Td (K filed with the SEC on April 18, 2014\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 239.32 Td (10.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 238.87 Td (Employment Agreement between IZEA, Inc. and LeAnn Hitchcock dated August 25, 2014 \(Incorporated by) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 228.87 Td (reference to the Companys current report on Form 8-K filed with the SEC on August 25, 2014\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 214.32 Td (10.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 213.87 Td (Employment Agreement between IZEA, Inc. and Edward Murphy dated December 26, 2014 \(Incorporated by) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 203.87 Td (reference to the Companys current report on Form 8-K filed with the SEC on December 31, 2014\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 189.32 Td (10.10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 188.87 Td (Employment Agreement between IZEA, Inc. and Ryan Schram dated January 25, 2015 \(Incorporated by) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 178.87 Td (reference to the Companys current report on Form 8-K filed with the SEC on January 29, 2015\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 164.32 Td (10.11) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 163.87 Td (Stock Purchase Agreement, dated as of January 27, 2015, by and among IZEA, Inc., Ebyline, Inc. and the) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 153.87 Td (Stockholders of Ebyline, Inc. listed on the signature pages thereto \(Incorporated by reference to the) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 143.87 Td (Company's current report on Form 8-K filed with the SEC on January 29, 2015\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 129.32 Td (10.12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 128.87 Td (Business Financing Modification Agreement between IZEA, Inc., Ebyline, Inc. and Bridge Bank, NA, dated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 118.87 Td (as of April 13, 2015 \(Incorporated by reference to the Company's current report on Form 8-K filed with the) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 108.87 Td (SEC on April 14, 2015\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 94.32 Td (31.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 94.00 94.32 Td (*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 93.42 Td (Certification of Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 79.32 Td (31.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 94.00 79.32 Td (*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 78.42 Td (Certification of Principal Financial and Accounting Officer pursuant to Section 302 of the Sarbanes-Oxley) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.00 68.42 Td (Act of 2002.) 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610.25 Td (to ) Tj ET Q q 0 0 0 rg BT 111.37 610.25 Td (the ) Tj ET Q q 0 0 0 rg BT 126.09 610.25 Td (period ) Tj ET Q q 0 0 0 rg BT 154.14 610.25 Td (covered ) Tj ET Q q 0 0 0 rg BT 188.28 610.25 Td (by ) Tj ET Q q 0 0 0 rg BT 200.78 610.25 Td (this ) Tj ET Q q 0 0 0 rg BT 217.73 610.25 Td (report;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.25 Td (3. ) Tj ET Q q 0 0 0 rg BT 60.16 586.25 Td (Based ) Tj ET Q q 0 0 0 rg BT 87.25 586.25 Td (on ) Tj ET Q q 0 0 0 rg BT 99.91 586.25 Td (my ) Tj ET Q q 0 0 0 rg BT 115.35 586.25 Td (knowledge, ) Tj ET Q q 0 0 0 rg BT 164.38 586.25 Td (the ) Tj ET Q q 0 0 0 rg BT 179.26 586.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 216.90 586.25 Td (statements, ) Tj ET Q q 0 0 0 rg BT 264.26 586.25 Td (and ) Tj ET Q q 0 0 0 rg BT 281.36 586.25 Td (other ) Tj ET Q q 0 0 0 rg BT 304.57 586.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 342.20 586.25 Td (information ) Tj ET Q q 0 0 0 rg BT 392.07 586.25 Td (included ) Tj ET Q q 0 0 0 rg BT 429.16 586.25 Td (in ) Tj ET Q q 0 0 0 rg BT 439.60 586.25 Td (this ) Tj ET Q q 0 0 0 rg BT 456.71 586.25 Td (report, ) Tj ET Q q 0 0 0 rg BT 485.74 586.25 Td (fairly ) Tj ET Q q 0 0 0 rg BT 510.05 586.25 Td (present ) Tj ET Q q 0 0 0 rg BT 541.59 586.25 Td (in ) Tj ET Q q 0 0 0 rg BT 552.02 586.25 Td (all ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.25 Td (material ) Tj ET Q q 0 0 0 rg BT 84.93 574.25 Td (respects ) Tj ET Q q 0 0 0 rg BT 119.31 574.25 Td (the ) Tj ET Q q 0 0 0 rg BT 133.69 574.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 170.84 574.25 Td (condition, ) Tj ET Q q 0 0 0 rg BT 213.29 574.25 Td (results ) Tj ET Q q 0 0 0 rg BT 241.57 574.25 Td (of ) Tj ET Q q 0 0 0 rg BT 252.07 574.25 Td (operations ) Tj ET Q q 0 0 0 rg BT 295.89 574.25 Td (and ) Tj ET Q q 0 0 0 rg BT 312.50 574.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 332.44 574.25 Td (flows ) Tj ET Q q 0 0 0 rg BT 356.83 574.25 Td (of ) Tj ET Q q 0 0 0 rg BT 367.33 574.25 Td (the ) Tj ET Q q 0 0 0 rg BT 381.72 574.25 Td (registrant ) Tj ET Q q 0 0 0 rg BT 421.66 574.25 Td (as ) Tj ET Q q 0 0 0 rg BT 432.16 574.25 Td (of, ) Tj ET Q q 0 0 0 rg BT 445.16 574.25 Td (and ) Tj ET Q q 0 0 0 rg BT 461.77 574.25 Td (for) Tj ET Q q 0 0 0 rg BT 473.02 574.25 Td (, ) Tj ET Q q 0 0 0 rg BT 477.70 574.25 Td (the ) Tj ET Q q 0 0 0 rg BT 492.08 574.25 Td (periods ) Tj ET Q q 0 0 0 rg BT 523.69 574.25 Td (presented ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.25 Td (in ) Tj ET Q q 0 0 0 rg BT 60.28 562.25 Td (this ) Tj ET Q q 0 0 0 rg BT 77.23 562.25 Td (report;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.25 Td (4. ) Tj ET Q q 0 0 0 rg BT 61.21 538.25 Td (The ) Tj ET Q q 0 0 0 rg BT 80.76 538.25 Td (registrant) Tj ET Q q 0 0 0 rg BT 121.30 538.25 Td (s ) Tj ET Q q 0 0 0 rg BT 129.19 538.25 Td (other ) Tj ET Q q 0 0 0 rg BT 153.74 538.25 Td (certifying ) Tj ET Q q 0 0 0 rg BT 196.61 538.25 Td (of) Tj ET Q q 0 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442.25 Td (Designed ) Tj ET Q q 0 0 0 rg BT 139.91 442.25 Td (such ) Tj ET Q q 0 0 0 rg BT 160.49 442.25 Td (internal ) Tj ET Q q 0 0 0 rg BT 193.27 442.25 Td (control ) Tj ET Q q 0 0 0 rg BT 223.84 442.25 Td (over ) Tj ET Q q 0 0 0 rg BT 243.85 442.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 281.07 442.25 Td (reporting, ) Tj ET Q q 0 0 0 rg BT 322.47 442.25 Td (or ) Tj ET Q q 0 0 0 rg BT 333.04 442.25 Td (caused ) Tj ET Q q 0 0 0 rg BT 362.49 442.25 Td (such ) Tj ET Q q 0 0 0 rg BT 383.07 442.25 Td (internal ) Tj ET Q q 0 0 0 rg BT 415.85 442.25 Td (control ) Tj ET Q q 0 0 0 rg BT 446.42 442.25 Td (over ) Tj ET Q q 0 0 0 rg BT 466.43 442.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 503.65 442.25 Td (reporting ) Tj ET Q q 0 0 0 rg BT 542.55 442.25 Td (to ) Tj ET Q q 0 0 0 rg BT 552.57 442.25 Td (be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.25 Td (designed ) Tj ET Q q 0 0 0 rg BT 87.44 430.25 Td (under ) Tj ET Q q 0 0 0 rg BT 112.09 430.25 Td (our ) Tj ET Q q 0 0 0 rg BT 127.31 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Tj ET Q q 0 0 0 rg BT 386.28 394.25 Td (procedures ) Tj ET Q q 0 0 0 rg BT 433.42 394.25 Td (and ) Tj ET Q q 0 0 0 rg BT 451.14 394.25 Td (presented ) Tj ET Q q 0 0 0 rg BT 492.74 394.25 Td (in ) Tj ET Q q 0 0 0 rg BT 503.79 394.25 Td (this ) Tj ET Q q 0 0 0 rg BT 521.52 394.25 Td (report ) Tj ET Q q 0 0 0 rg BT 548.68 394.25 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.25 Td (conclusions ) Tj ET Q q 0 0 0 rg BT 99.96 382.25 Td (about ) Tj ET Q q 0 0 0 rg BT 124.92 382.25 Td (the ) Tj ET Q q 0 0 0 rg BT 139.88 382.25 Td (ef) Tj ET Q q 0 0 0 rg BT 147.47 382.25 Td (fectiveness ) Tj ET Q q 0 0 0 rg BT 194.63 382.25 Td (of ) Tj ET Q q 0 0 0 rg BT 205.71 382.25 Td (the ) Tj ET Q q 0 0 0 rg BT 220.67 382.25 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 263.96 382.25 Td (controls ) Tj ET Q q 0 0 0 rg BT 298.92 382.25 Td (and ) Tj ET Q q 0 0 0 rg BT 316.10 382.25 Td (procedures, ) Tj ET Q q 0 0 0 rg BT 365.21 382.25 Td (as ) Tj ET Q q 0 0 0 rg BT 376.28 382.25 Td (of ) Tj ET Q q 0 0 0 rg BT 387.36 382.25 Td (the ) Tj ET Q q 0 0 0 rg BT 402.32 382.25 Td (end ) Tj ET Q q 0 0 0 rg BT 419.50 382.25 Td (of ) Tj ET Q q 0 0 0 rg BT 430.57 382.25 Td (the ) Tj ET Q q 0 0 0 rg BT 445.53 382.25 Td (period ) Tj ET Q q 0 0 0 rg BT 473.82 382.25 Td (covered ) Tj ET Q q 0 0 0 rg BT 508.21 382.25 Td (by ) Tj ET Q q 0 0 0 rg BT 520.95 382.25 Td (this ) Tj ET Q q 0 0 0 rg BT 538.14 382.25 Td (report ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.25 Td (based ) Tj ET Q q 0 0 0 rg BT 75.27 370.25 Td (on ) Tj ET Q q 0 0 0 rg BT 87.77 370.25 Td (such ) Tj ET Q q 0 0 0 rg BT 108.60 370.25 Td (evaluation; ) Tj ET Q q 0 0 0 rg BT 155.53 370.25 Td (and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 346.25 Td (\(d\) ) Tj ET Q q 0 0 0 rg BT 100.44 346.25 Td (Disclosed ) Tj ET Q q 0 0 0 rg BT 142.66 346.25 Td (in ) Tj ET Q q 0 0 0 rg BT 153.22 346.25 Td (this ) Tj ET Q q 0 0 0 rg BT 170.45 346.25 Td (report ) Tj ET Q q 0 0 0 rg BT 197.11 346.25 Td (any ) Tj ET Q q 0 0 0 rg BT 214.33 346.25 Td (change ) Tj ET Q q 0 0 0 rg BT 245.42 346.25 Td (in ) Tj ET Q q 0 0 0 rg BT 255.98 346.25 Td (the ) Tj ET Q q 0 0 0 rg BT 270.98 346.25 Td (registrant) Tj ET Q q 0 0 0 rg BT 311.52 346.25 Td (s ) Tj ET Q q 0 0 0 rg BT 318.19 346.25 Td (internal ) Tj ET Q q 0 0 0 rg BT 351.52 346.25 Td (control ) Tj ET Q q 0 0 0 rg BT 382.62 346.25 Td (over ) Tj ET Q q 0 0 0 rg BT 403.17 346.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 440.93 346.25 Td (reporting ) Tj ET Q q 0 0 0 rg BT 480.37 346.25 Td (that ) Tj ET Q q 0 0 0 rg BT 498.14 346.25 Td (occurred ) Tj ET Q q 0 0 0 rg BT 535.90 346.25 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.25 Td (the ) Tj ET Q q 0 0 0 rg BT 64.69 334.25 Td (registrant) Tj ET Q q 0 0 0 rg BT 105.23 334.25 Td (s ) Tj ET Q q 0 0 0 rg BT 111.59 334.25 Td (most ) Tj ET Q q 0 0 0 rg BT 133.52 334.25 Td (recent ) Tj ET Q q 0 0 0 rg BT 160.41 334.25 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 184.54 334.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 215.33 334.25 Td (\(the ) Tj ET Q q 0 0 0 rg BT 233.35 334.25 Td (registrant) Tj ET Q q 0 0 0 rg BT 273.89 334.25 Td (s ) Tj ET Q q 0 0 0 rg BT 280.25 334.25 Td (fourth ) Tj ET Q q 0 0 0 rg BT 307.16 334.25 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 331.29 334.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 362.08 334.25 Td (in ) Tj ET Q q 0 0 0 rg BT 372.33 334.25 Td (the ) Tj ET Q q 0 0 0 rg BT 387.02 334.25 Td (case ) Tj ET Q q 0 0 0 rg BT 406.70 334.25 Td (of ) Tj ET Q q 0 0 0 rg BT 417.50 334.25 Td (an ) Tj ET Q q 0 0 0 rg BT 429.41 334.25 Td (annual ) Tj ET Q q 0 0 0 rg BT 458.54 334.25 Td (report\) ) Tj ET Q q 0 0 0 rg BT 488.21 334.25 Td (that ) Tj ET Q q 0 0 0 rg BT 505.68 334.25 Td (has ) Tj ET Q q 0 0 0 rg BT 521.48 334.25 Td (materially ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.25 Td (af) Tj ET Q q 0 0 0 rg BT 57.59 322.25 Td (fected, ) Tj ET Q q 0 0 0 rg BT 87.01 322.25 Td (or ) Tj ET Q q 0 0 0 rg BT 97.84 322.25 Td (is ) Tj ET Q q 0 0 0 rg BT 107.01 322.25 Td (reasonably ) Tj ET Q q 0 0 0 rg BT 152.83 322.25 Td (likely ) Tj ET Q q 0 0 0 rg BT 178.10 322.25 Td (to ) Tj ET Q q 0 0 0 rg BT 188.38 322.25 Td (materially ) Tj ET Q q 0 0 0 rg BT 231.42 322.25 Td (af) Tj ET Q q 0 0 0 rg BT 239.00 322.25 Td (fect, ) Tj ET Q q 0 0 0 rg BT 258.99 322.25 Td (the ) Tj ET Q q 0 0 0 rg BT 273.71 322.25 Td (registrant) Tj ET Q q 0 0 0 rg BT 314.25 322.25 Td (s ) Tj ET Q q 0 0 0 rg BT 320.64 322.25 Td (internal ) Tj ET Q q 0 0 0 rg BT 353.68 322.25 Td (control ) Tj ET Q q 0 0 0 rg BT 384.51 322.25 Td (over ) Tj ET Q q 0 0 0 rg BT 404.78 322.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 442.26 322.25 Td (reporting; ) Tj ET Q q 0 0 0 rg BT 484.19 322.25 Td (and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.25 Td (5. ) Tj ET Q q 0 0 0 rg BT 58.93 298.25 Td (The ) Tj ET Q q 0 0 0 rg BT 76.02 298.25 Td (registrant) Tj ET Q q 0 0 0 rg BT 116.56 298.25 Td (s ) Tj ET Q q 0 0 0 rg BT 121.99 298.25 Td (other ) Tj ET Q q 0 0 0 rg BT 144.08 298.25 Td (certifying ) Tj ET Q q 0 0 0 rg BT 184.50 298.25 Td (of) Tj ET Q q 0 0 0 rg BT 192.65 298.25 Td (ficer ) Tj ET Q q 0 0 0 rg BT 212.50 298.25 Td (and ) Tj ET Q q 0 0 0 rg BT 228.48 298.25 Td (I ) Tj ET Q q 0 0 0 rg BT 233.36 298.25 Td (have ) Tj ET Q q 0 0 0 rg BT 253.78 298.25 Td (disclosed, ) Tj ET Q q 0 0 0 rg BT 295.03 298.25 Td (based ) Tj ET Q q 0 0 0 rg BT 319.35 298.25 Td (on ) Tj ET Q q 0 0 0 rg BT 330.89 298.25 Td (our ) Tj ET Q q 0 0 0 rg BT 345.76 298.25 Td (most ) Tj ET Q q 0 0 0 rg BT 366.75 298.25 Td (recent ) Tj ET Q q 0 0 0 rg BT 392.72 298.25 Td (evaluation ) Tj ET Q q 0 0 0 rg BT 435.91 298.25 Td (of ) Tj ET Q q 0 0 0 rg BT 445.78 298.25 Td (internal ) Tj ET Q q 0 0 0 rg BT 477.86 298.25 Td (control ) Tj ET Q q 0 0 0 rg BT 507.73 298.25 Td (over ) Tj ET Q q 0 0 0 rg BT 527.04 298.25 Td (financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.25 Td (reporting, ) Tj ET Q q 0 0 0 rg BT 92.31 286.25 Td (to ) Tj ET Q q 0 0 0 rg BT 103.25 286.25 Td (the ) Tj ET Q q 0 0 0 rg BT 118.63 286.25 Td (registrant) Tj ET Q q 0 0 0 rg BT 159.17 286.25 Td (s ) Tj ET Q q 0 0 0 rg BT 166.22 286.25 Td (auditors ) Tj ET Q q 0 0 0 rg BT 201.60 286.25 Td (and ) Tj ET Q q 0 0 0 rg BT 219.19 286.25 Td (the ) Tj ET Q q 0 0 0 rg BT 234.57 286.25 Td (audit ) Tj ET Q q 0 0 0 rg BT 257.72 286.25 Td (committee ) Tj ET Q q 0 0 0 rg BT 303.09 286.25 Td (of ) Tj ET Q q 0 0 0 rg BT 314.58 286.25 Td (the ) Tj ET Q q 0 0 0 rg BT 329.96 286.25 Td (registrant) Tj ET Q q 0 0 0 rg BT 370.50 286.25 Td (s ) Tj ET Q q 0 0 0 rg BT 377.55 286.25 Td (board ) Tj ET Q q 0 0 0 rg BT 403.48 286.25 Td (of ) Tj ET Q q 0 0 0 rg BT 414.97 286.25 Td (directors ) Tj ET Q q 0 0 0 rg BT 453.11 286.25 Td (\(or ) Tj ET Q q 0 0 0 rg BT 467.93 286.25 Td (persons ) Tj ET Q q 0 0 0 rg BT 501.64 286.25 Td (performing ) Tj ET Q q 0 0 0 rg BT 549.79 286.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.25 Td (equivalent ) Tj ET Q q 0 0 0 rg BT 94.15 274.25 Td (functions\):) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 250.25 Td (\(a\) ) Tj ET Q q 0 0 0 rg BT 99.87 250.25 Td (All ) Tj ET Q q 0 0 0 rg BT 116.21 250.25 Td (significant ) Tj ET Q q 0 0 0 rg BT 161.98 250.25 Td (deficiencies ) Tj ET Q q 0 0 0 rg BT 213.29 250.25 Td (and ) Tj ET Q q 0 0 0 rg BT 231.29 250.25 Td (material ) Tj ET Q q 0 0 0 rg BT 267.61 250.25 Td (weaknesses ) Tj ET Q q 0 0 0 rg BT 317.82 250.25 Td (in ) Tj ET Q q 0 0 0 rg BT 329.15 250.25 Td (the ) Tj ET Q q 0 0 0 rg BT 344.93 250.25 Td (design ) Tj ET Q q 0 0 0 rg BT 374.60 250.25 Td (or ) Tj ET Q q 0 0 0 rg BT 386.49 250.25 Td (operation ) Tj ET Q q 0 0 0 rg BT 427.81 250.25 Td (of ) Tj ET Q q 0 0 0 rg BT 439.70 250.25 Td (internal ) Tj ET Q q 0 0 0 rg BT 473.80 250.25 Td (control ) Tj ET Q q 0 0 0 rg BT 505.69 250.25 Td (over ) Tj ET Q q 0 0 0 rg BT 527.02 250.25 Td (financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.25 Td (reporting ) Tj ET Q q 0 0 0 rg BT 88.79 238.25 Td (which ) Tj ET Q q 0 0 0 rg BT 115.36 238.25 Td (are ) Tj ET Q q 0 0 0 rg BT 129.70 238.25 Td (reasonably ) Tj ET Q q 0 0 0 rg BT 175.15 238.25 Td (likely ) Tj ET Q q 0 0 0 rg BT 200.06 238.25 Td (to ) Tj ET Q q 0 0 0 rg BT 209.97 238.25 Td (adversely ) Tj ET Q q 0 0 0 rg BT 250.42 238.25 Td (af) Tj ET Q q 0 0 0 rg BT 258.01 238.25 Td (fect ) Tj ET Q q 0 0 0 rg BT 275.13 238.25 Td (the ) Tj ET Q q 0 0 0 rg BT 289.48 238.25 Td (registrant) Tj ET Q q 0 0 0 rg BT 330.02 238.25 Td (s ) Tj ET Q q 0 0 0 rg BT 336.04 238.25 Td (ability ) Tj ET Q q 0 0 0 rg BT 363.73 238.25 Td (to ) Tj ET Q q 0 0 0 rg BT 373.64 238.25 Td (record, ) Tj ET Q q 0 0 0 rg BT 403.81 238.25 Td (process, ) Tj ET Q q 0 0 0 rg BT 438.44 238.25 Td (summarize ) Tj ET Q q 0 0 0 rg BT 484.44 238.25 Td (and ) Tj ET Q q 0 0 0 rg BT 501.02 238.25 Td (report ) Tj ET Q q 0 0 0 rg BT 527.03 238.25 Td (financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 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521.67 202.25 Td (role ) Tj ET Q q 0 0 0 rg BT 539.61 202.25 Td (in ) Tj ET Q q 0 0 0 rg BT 549.79 202.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.25 Td (registrant) Tj ET Q q 0 0 0 rg BT 90.54 190.25 Td (s ) Tj ET Q q 0 0 0 rg BT 96.93 190.25 Td (internal ) Tj ET Q q 0 0 0 rg BT 129.98 190.25 Td (control ) Tj ET Q q 0 0 0 rg BT 160.80 190.25 Td (over ) Tj ET Q q 0 0 0 rg BT 181.07 190.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 218.55 190.25 Td (reporting.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.25 Td (Dated:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.66 166.25 Td (November16, 2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 161.36 166.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.25 Td () Tj ET Q 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 105.75 m 431.5 105.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 110.32 Td (/s/ Edward H. Murphy) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.00 110.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 96.32 Td (Edward H. Murphy) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.00 96.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 82.32 Td (Chairman, President and Chief Executive Officer) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.00 82.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 68.32 Td (\(Principal Executive Officer\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.00 68.32 Td () Tj ET Q BT /F1 10.00 Tf ET endstream endobj 83 0 obj <> endobj 84 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 499.35 742.25 Td (EXHIBIT) Tj ET Q q 0 0 0 rg BT 541.96 742.25 Td ( 31.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.25 Td () Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 186.95 716.9169921875 m 427.5310546875 716.9169921875 l s q 0 0 0 rg BT 186.95 718.25 Td (Certification by Principal Financial and ) Tj ET Q q 0 0 0 rg BT 347.19 718.25 Td (Accounting Of) Tj ET Q q 0 0 0 rg BT 406.72 718.25 Td (ficer ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 188.2 704.9169921875 m 423.7126953125 704.9169921875 l s q 0 0 0 rg BT 188.20 706.25 Td (pursuant to Section 302 of the Sarbanes Oxley ) Tj ET Q q 0 0 0 rg BT 375.94 706.25 Td (Act of 2002) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (I, LeAnn C. Hitchcock, certify that:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.25 Td (1. ) Tj ET Q q 0 0 0 rg BT 60.00 658.25 Td (I ) Tj ET Q q 0 0 0 rg BT 65.83 658.25 Td (have ) Tj ET Q q 0 0 0 rg BT 87.21 658.25 Td (reviewed ) Tj ET Q q 0 0 0 rg BT 126.35 658.25 Td (this ) Tj ET Q q 0 0 0 rg BT 143.30 658.25 Td (report ) Tj ET Q q 0 0 0 rg BT 169.68 658.25 Td (on ) Tj ET Q q 0 0 0 rg BT 182.18 658.25 Td (Form ) Tj ET Q q 0 0 0 rg BT 206.35 658.25 Td (10-Q ) Tj ET Q q 0 0 0 rg BT 229.40 658.25 Td (of ) Tj ET Q q 0 0 0 rg BT 240.23 658.25 Td (IZEA, ) Tj ET Q q 0 0 0 rg BT 268.00 658.25 Td (Inc.;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.25 Td (2. ) Tj ET Q q 0 0 0 rg BT 60.47 634.25 Td (Based ) Tj ET Q q 0 0 0 rg BT 87.88 634.25 Td (on ) Tj ET Q q 0 0 0 rg BT 100.84 634.25 Td (my ) Tj ET Q q 0 0 0 rg BT 116.59 634.25 Td (knowledge, ) Tj ET Q q 0 0 0 rg BT 165.94 634.25 Td (this ) Tj ET Q q 0 0 0 rg BT 183.35 634.25 Td (report ) Tj ET Q q 0 0 0 rg BT 210.20 634.25 Td (does ) Tj ET Q q 0 0 0 rg BT 231.50 634.25 Td (not ) Tj ET Q q 0 0 0 rg BT 247.25 634.25 Td (contain ) Tj ET Q q 0 0 0 rg BT 279.65 634.25 Td (any ) Tj ET Q q 0 0 0 rg BT 297.06 634.25 Td (untrue ) Tj ET Q q 0 0 0 rg BT 325.57 634.25 Td (statement ) Tj ET Q q 0 0 0 rg BT 366.86 634.25 Td (of ) Tj ET Q q 0 0 0 rg BT 378.16 634.25 Td (a ) Tj ET Q q 0 0 0 rg BT 385.57 634.25 Td (material ) Tj ET Q q 0 0 0 rg BT 421.29 634.25 Td (fact ) Tj ET Q q 0 0 0 rg BT 439.25 634.25 Td (or ) Tj ET Q q 0 0 0 rg BT 450.55 634.25 Td (omit ) Tj ET Q q 0 0 0 rg BT 471.85 634.25 Td (to ) Tj ET Q q 0 0 0 rg BT 482.60 634.25 Td (state ) Tj ET Q q 0 0 0 rg BT 503.89 634.25 Td (a ) Tj ET Q q 0 0 0 rg BT 511.30 634.25 Td (material ) Tj ET Q q 0 0 0 rg BT 547.03 634.25 Td (fact ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.25 Td (necessary ) Tj ET Q q 0 0 0 rg BT 91.86 622.25 Td (to ) Tj ET Q q 0 0 0 rg BT 102.63 622.25 Td (make ) Tj ET Q q 0 0 0 rg BT 127.27 622.25 Td (the ) Tj ET Q q 0 0 0 rg BT 142.48 622.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 187.68 622.25 Td (made, ) Tj ET Q q 0 0 0 rg BT 214.83 622.25 Td (in ) Tj ET Q q 0 0 0 rg BT 225.60 622.25 Td (light ) Tj ET Q q 0 0 0 rg BT 246.92 622.25 Td (of ) Tj ET Q q 0 0 0 rg BT 258.24 622.25 Td (the ) Tj ET Q q 0 0 0 rg BT 273.45 622.25 Td (circumstances ) Tj ET Q q 0 0 0 rg BT 333.08 622.25 Td (under ) Tj ET Q q 0 0 0 rg BT 358.84 622.25 Td (which ) Tj ET Q q 0 0 0 rg BT 386.27 622.25 Td (such ) Tj ET Q q 0 0 0 rg BT 407.59 622.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 452.80 622.25 Td (were ) Tj ET Q q 0 0 0 rg BT 475.21 622.25 Td (made, ) Tj ET Q q 0 0 0 rg BT 502.36 622.25 Td (not ) Tj ET Q q 0 0 0 rg BT 518.13 622.25 Td (misleading ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.25 Td (with ) Tj ET Q q 0 0 0 rg BT 70.28 610.25 Td (respect ) Tj ET Q q 0 0 0 rg BT 101.09 610.25 Td (to ) Tj ET Q q 0 0 0 rg BT 111.37 610.25 Td (the ) Tj ET Q q 0 0 0 rg BT 126.09 610.25 Td (period ) Tj ET Q q 0 0 0 rg BT 154.14 610.25 Td (covered ) Tj ET Q q 0 0 0 rg BT 188.28 610.25 Td (by ) Tj ET Q q 0 0 0 rg BT 200.78 610.25 Td (this ) Tj ET Q q 0 0 0 rg BT 217.73 610.25 Td (report;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.25 Td (3. ) Tj ET Q q 0 0 0 rg BT 60.16 586.25 Td (Based ) Tj ET Q q 0 0 0 rg BT 87.25 586.25 Td (on ) Tj ET Q q 0 0 0 rg BT 99.91 586.25 Td (my ) Tj ET Q q 0 0 0 rg BT 115.35 586.25 Td (knowledge, ) Tj ET Q q 0 0 0 rg BT 164.38 586.25 Td (the ) Tj ET Q q 0 0 0 rg BT 179.26 586.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 216.90 586.25 Td (statements, ) Tj ET Q q 0 0 0 rg BT 264.26 586.25 Td (and ) Tj ET Q q 0 0 0 rg BT 281.36 586.25 Td (other ) Tj ET Q q 0 0 0 rg BT 304.57 586.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 342.20 586.25 Td (information ) Tj ET Q q 0 0 0 rg BT 392.07 586.25 Td (included ) Tj ET Q q 0 0 0 rg BT 429.16 586.25 Td (in ) Tj ET Q q 0 0 0 rg BT 439.60 586.25 Td (this ) Tj ET Q q 0 0 0 rg BT 456.71 586.25 Td (report, ) Tj ET Q q 0 0 0 rg BT 485.74 586.25 Td (fairly ) Tj ET Q q 0 0 0 rg BT 510.05 586.25 Td (present ) Tj ET Q q 0 0 0 rg BT 541.59 586.25 Td (in ) Tj ET Q q 0 0 0 rg BT 552.02 586.25 Td (all ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.25 Td (material ) Tj ET Q q 0 0 0 rg BT 84.93 574.25 Td (respects ) Tj ET Q q 0 0 0 rg BT 119.31 574.25 Td (the ) Tj ET Q q 0 0 0 rg BT 133.69 574.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 170.84 574.25 Td (condition, ) Tj ET Q q 0 0 0 rg BT 213.29 574.25 Td (results ) Tj ET Q q 0 0 0 rg BT 241.57 574.25 Td (of ) Tj ET Q q 0 0 0 rg BT 252.07 574.25 Td (operations ) Tj ET Q q 0 0 0 rg BT 295.89 574.25 Td (and ) Tj ET Q q 0 0 0 rg BT 312.50 574.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 332.44 574.25 Td (flows ) Tj ET Q q 0 0 0 rg BT 356.83 574.25 Td (of ) Tj ET Q q 0 0 0 rg BT 367.33 574.25 Td (the ) Tj ET Q q 0 0 0 rg BT 381.72 574.25 Td (registrant ) Tj ET Q q 0 0 0 rg BT 421.66 574.25 Td (as ) Tj ET Q q 0 0 0 rg BT 432.16 574.25 Td (of, ) Tj ET Q q 0 0 0 rg BT 445.16 574.25 Td (and ) Tj ET Q q 0 0 0 rg BT 461.77 574.25 Td (for) Tj ET Q q 0 0 0 rg BT 473.02 574.25 Td (, ) Tj ET Q q 0 0 0 rg BT 477.70 574.25 Td (the ) Tj ET Q q 0 0 0 rg BT 492.08 574.25 Td (periods ) Tj ET Q q 0 0 0 rg BT 523.69 574.25 Td (presented ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.25 Td (in ) Tj ET Q q 0 0 0 rg BT 60.28 562.25 Td (this ) Tj ET Q q 0 0 0 rg BT 77.23 562.25 Td (report;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.25 Td (4. ) Tj ET Q q 0 0 0 rg BT 61.21 538.25 Td (The ) Tj ET Q q 0 0 0 rg BT 80.76 538.25 Td (registrant) Tj ET Q q 0 0 0 rg BT 121.30 538.25 Td (s ) Tj ET Q q 0 0 0 rg BT 129.19 538.25 Td (other ) Tj ET Q q 0 0 0 rg BT 153.74 538.25 Td (certifying ) Tj ET Q q 0 0 0 rg BT 196.61 538.25 Td (of) Tj ET Q q 0 0 0 rg BT 204.76 538.25 Td (ficer\(s\) ) Tj ET Q q 0 0 0 rg BT 237.63 538.25 Td (and ) Tj ET Q q 0 0 0 rg BT 256.07 538.25 Td (I ) Tj ET Q q 0 0 0 rg BT 263.40 538.25 Td (are ) Tj ET Q q 0 0 0 rg BT 279.61 538.25 Td (responsible ) Tj ET Q q 0 0 0 rg BT 329.15 538.25 Td (for ) Tj ET Q q 0 0 0 rg BT 344.81 538.25 Td (establishing ) Tj ET Q q 0 0 0 rg BT 396.59 538.25 Td (and ) Tj ET Q q 0 0 0 rg BT 415.03 538.25 Td (maintaining ) Tj ET Q q 0 0 0 rg BT 466.80 538.25 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 511.34 538.25 Td (controls ) Tj ET Q q 0 0 0 rg BT 547.56 538.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.25 Td (procedures ) Tj ET Q q 0 0 0 rg BT 96.35 526.25 Td (\(as ) Tj ET Q q 0 0 0 rg BT 110.49 526.25 Td (defined ) Tj ET Q q 0 0 0 rg BT 142.96 526.25 Td (in ) Tj ET Q q 0 0 0 rg BT 153.22 526.25 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 194.58 526.25 Td (Act ) Tj ET Q q 0 0 0 rg BT 211.50 526.25 Td (Rules ) Tj ET Q q 0 0 0 rg BT 236.76 526.25 Td (13a-15\(e\) ) Tj ET Q q 0 0 0 rg BT 278.11 526.25 Td (and ) Tj ET Q q 0 0 0 rg BT 295.04 526.25 Td (15d-15\(e\)\) ) Tj ET Q q 0 0 0 rg BT 340.28 526.25 Td (and ) Tj ET Q q 0 0 0 rg BT 357.20 526.25 Td (internal ) Tj ET Q q 0 0 0 rg BT 390.22 526.25 Td (control ) Tj ET Q q 0 0 0 rg BT 421.03 526.25 Td (over ) Tj ET Q q 0 0 0 rg BT 441.28 526.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 478.75 526.25 Td (reporting ) Tj ET Q q 0 0 0 rg BT 517.88 526.25 Td (\(as ) Tj ET Q q 0 0 0 rg BT 532.03 526.25 Td (defined ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.25 Td (in ) Tj ET Q q 0 0 0 rg BT 60.28 514.25 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 101.65 514.25 Td (Act ) Tj ET Q q 0 0 0 rg BT 118.59 514.25 Td (Rules ) Tj ET Q q 0 0 0 rg BT 143.87 514.25 Td (13a-15\(f\) ) Tj ET Q q 0 0 0 rg BT 184.13 514.25 Td (and ) Tj ET Q q 0 0 0 rg BT 201.06 514.25 Td (15d-15\(f\)\) ) Tj ET Q q 0 0 0 rg BT 245.21 514.25 Td (for ) Tj ET Q q 0 0 0 rg BT 259.38 514.25 Td (the ) Tj ET Q q 0 0 0 rg BT 274.09 514.25 Td (registrant ) Tj ET Q q 0 0 0 rg BT 314.36 514.25 Td (and ) Tj ET Q q 0 0 0 rg BT 331.29 514.25 Td (have:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 490.25 Td (\(a\) ) Tj ET Q q 0 0 0 rg BT 99.44 490.25 Td (Designed ) Tj ET Q q 0 0 0 rg BT 139.56 490.25 Td (such ) Tj ET Q q 0 0 0 rg BT 160.24 490.25 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 203.13 490.25 Td (controls ) Tj ET Q q 0 0 0 rg BT 237.69 490.25 Td (and ) Tj ET Q q 0 0 0 rg BT 254.48 490.25 Td (procedures, ) Tj ET Q q 0 0 0 rg BT 303.19 490.25 Td (or ) Tj ET Q q 0 0 0 rg BT 313.87 490.25 Td (caused ) Tj ET Q q 0 0 0 rg BT 343.42 490.25 Td (such ) Tj ET Q q 0 0 0 rg BT 364.10 490.25 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 406.99 490.25 Td (controls ) Tj ET Q q 0 0 0 rg BT 441.55 490.25 Td (and ) Tj ET Q q 0 0 0 rg BT 458.34 490.25 Td (procedures ) Tj ET Q q 0 0 0 rg BT 504.55 490.25 Td (to ) Tj ET Q q 0 0 0 rg BT 514.67 490.25 Td (be ) Tj ET Q q 0 0 0 rg BT 526.46 490.25 Td (designed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.25 Td (under ) Tj ET Q q 0 0 0 rg BT 74.64 478.25 Td (our ) Tj ET Q q 0 0 0 rg BT 89.85 478.25 Td (supervision, ) Tj ET Q q 0 0 0 rg BT 140.33 478.25 Td (to ) Tj ET Q q 0 0 0 rg BT 149.98 478.25 Td (ensure ) Tj ET Q q 0 0 0 rg BT 177.95 478.25 Td (that ) Tj ET Q q 0 0 0 rg BT 194.82 478.25 Td (material ) Tj ET Q q 0 0 0 rg BT 229.46 478.25 Td (information ) Tj ET Q q 0 0 0 rg BT 278.54 478.25 Td (relating ) Tj ET Q q 0 0 0 rg BT 310.96 478.25 Td (to ) Tj ET Q q 0 0 0 rg BT 320.61 478.25 Td (the ) Tj ET Q q 0 0 0 rg BT 334.70 478.25 Td (registrant, ) Tj ET Q q 0 0 0 rg BT 376.84 478.25 Td (including ) Tj ET Q q 0 0 0 rg BT 416.49 478.25 Td (its ) Tj ET Q q 0 0 0 rg BT 427.81 478.25 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 480.22 478.25 Td (subsidiaries, ) Tj ET Q q 0 0 0 rg BT 531.82 478.25 Td (is ) Tj ET Q q 0 0 0 rg BT 540.36 478.25 Td (made ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.25 Td (known ) Tj ET Q q 0 0 0 rg BT 79.72 466.25 Td (to ) Tj ET Q q 0 0 0 rg BT 90.00 466.25 Td (us ) Tj ET Q q 0 0 0 rg BT 101.39 466.25 Td (by ) Tj ET Q q 0 0 0 rg BT 113.89 466.25 Td (others ) Tj ET Q q 0 0 0 rg BT 140.83 466.25 Td (within ) Tj ET Q q 0 0 0 rg BT 168.89 466.25 Td (those ) Tj ET Q q 0 0 0 rg BT 192.50 466.25 Td (entities, ) Tj ET Q q 0 0 0 rg BT 226.38 466.25 Td (particularly ) Tj ET Q q 0 0 0 rg BT 274.97 466.25 Td (during ) Tj ET Q q 0 0 0 rg BT 303.57 466.25 Td (the ) Tj ET Q q 0 0 0 rg BT 318.29 466.25 Td (period ) Tj ET Q q 0 0 0 rg BT 346.34 466.25 Td (in ) Tj ET Q q 0 0 0 rg BT 356.62 466.25 Td (which ) Tj ET Q q 0 0 0 rg BT 383.55 466.25 Td (this ) Tj ET Q q 0 0 0 rg BT 400.50 466.25 Td (report ) Tj ET Q q 0 0 0 rg BT 426.88 466.25 Td (is ) Tj ET Q q 0 0 0 rg BT 436.05 466.25 Td (being ) Tj ET Q q 0 0 0 rg BT 460.77 466.25 Td (prepared;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 442.25 Td (\(b\) ) Tj ET Q q 0 0 0 rg BT 99.90 442.25 Td (Designed ) Tj ET Q q 0 0 0 rg BT 139.91 442.25 Td (such ) Tj ET Q q 0 0 0 rg BT 160.49 442.25 Td (internal ) Tj ET Q q 0 0 0 rg BT 193.27 442.25 Td (control ) Tj ET Q q 0 0 0 rg BT 223.84 442.25 Td (over ) Tj ET Q q 0 0 0 rg BT 243.85 442.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 281.07 442.25 Td (reporting, ) Tj ET Q q 0 0 0 rg BT 322.47 442.25 Td (or ) Tj ET Q q 0 0 0 rg BT 333.04 442.25 Td (caused ) Tj ET Q q 0 0 0 rg BT 362.49 442.25 Td (such ) Tj ET Q q 0 0 0 rg BT 383.07 442.25 Td (internal ) Tj ET Q q 0 0 0 rg BT 415.85 442.25 Td (control ) Tj ET Q q 0 0 0 rg BT 446.42 442.25 Td (over ) Tj ET Q q 0 0 0 rg BT 466.43 442.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 503.65 442.25 Td (reporting ) Tj ET Q q 0 0 0 rg BT 542.55 442.25 Td (to ) Tj ET Q q 0 0 0 rg BT 552.57 442.25 Td (be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.25 Td (designed ) Tj ET Q q 0 0 0 rg BT 87.44 430.25 Td (under ) Tj ET Q q 0 0 0 rg BT 112.09 430.25 Td (our ) Tj ET Q q 0 0 0 rg BT 127.31 430.25 Td (supervision, ) Tj ET Q q 0 0 0 rg BT 177.81 430.25 Td (to ) Tj ET Q q 0 0 0 rg BT 187.48 430.25 Td (provide ) Tj ET Q q 0 0 0 rg BT 219.92 430.25 Td (reasonable ) Tj ET Q q 0 0 0 rg BT 264.56 430.25 Td (assurance ) Tj ET Q q 0 0 0 rg BT 305.32 430.25 Td (regarding ) Tj ET Q q 0 0 0 rg BT 345.52 430.25 Td (the ) Tj ET Q q 0 0 0 rg BT 359.63 430.25 Td (reliability ) Tj ET Q q 0 0 0 rg BT 400.40 430.25 Td (of ) Tj ET Q q 0 0 0 rg BT 410.62 430.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 447.49 430.25 Td (reporting ) Tj ET Q q 0 0 0 rg BT 486.03 430.25 Td (and ) Tj ET Q q 0 0 0 rg BT 502.36 430.25 Td (the ) Tj ET Q q 0 0 0 rg BT 516.46 430.25 Td (preparation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.25 Td (of ) Tj ET Q q 0 0 0 rg BT 60.83 418.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 98.31 418.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 143.02 418.25 Td (for ) Tj ET Q q 0 0 0 rg BT 157.18 418.25 Td (external ) Tj ET Q q 0 0 0 rg BT 191.88 418.25 Td (purposes ) Tj ET Q q 0 0 0 rg BT 229.94 418.25 Td (in ) Tj ET Q q 0 0 0 rg BT 240.21 418.25 Td (accordance ) Tj ET Q q 0 0 0 rg BT 287.68 418.25 Td (with ) Tj ET Q q 0 0 0 rg BT 307.95 418.25 Td (generally ) Tj ET Q q 0 0 0 rg BT 347.66 418.25 Td (accepted ) Tj ET Q q 0 0 0 rg BT 385.13 418.25 Td (accounting ) Tj ET Q q 0 0 0 rg BT 431.50 418.25 Td (principles;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 394.25 Td (\(c\) ) Tj ET Q q 0 0 0 rg BT 100.38 394.25 Td (Evaluated ) Tj ET Q q 0 0 0 rg BT 143.64 394.25 Td (the ) Tj ET Q q 0 0 0 rg BT 159.13 394.25 Td (ef) Tj ET Q q 0 0 0 rg BT 166.72 394.25 Td (fectiveness ) Tj ET Q q 0 0 0 rg BT 214.42 394.25 Td (of ) Tj ET Q q 0 0 0 rg BT 226.03 394.25 Td (the ) Tj ET Q q 0 0 0 rg BT 241.53 394.25 Td (registrant) Tj ET Q q 0 0 0 rg BT 282.07 394.25 Td (s ) Tj ET Q q 0 0 0 rg BT 289.24 394.25 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 333.07 394.25 Td (controls ) Tj ET Q q 0 0 0 rg BT 368.56 394.25 Td (and ) Tj ET Q q 0 0 0 rg BT 386.28 394.25 Td (procedures ) Tj ET Q q 0 0 0 rg BT 433.42 394.25 Td (and ) Tj ET Q q 0 0 0 rg BT 451.14 394.25 Td (presented ) Tj ET Q q 0 0 0 rg BT 492.74 394.25 Td (in ) Tj ET Q q 0 0 0 rg BT 503.79 394.25 Td (this ) Tj ET Q q 0 0 0 rg BT 521.52 394.25 Td (report ) Tj ET Q q 0 0 0 rg BT 548.68 394.25 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.25 Td (conclusions ) Tj ET Q q 0 0 0 rg BT 99.96 382.25 Td (about ) Tj ET Q q 0 0 0 rg BT 124.92 382.25 Td (the ) Tj ET Q q 0 0 0 rg BT 139.88 382.25 Td (ef) Tj ET Q q 0 0 0 rg BT 147.47 382.25 Td (fectiveness ) Tj ET Q q 0 0 0 rg BT 194.63 382.25 Td (of ) Tj ET Q q 0 0 0 rg BT 205.71 382.25 Td (the ) Tj ET Q q 0 0 0 rg BT 220.67 382.25 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 263.96 382.25 Td (controls ) Tj ET Q q 0 0 0 rg BT 298.92 382.25 Td (and ) Tj ET Q q 0 0 0 rg BT 316.10 382.25 Td (procedures, ) Tj ET Q q 0 0 0 rg BT 365.21 382.25 Td (as ) Tj ET Q q 0 0 0 rg BT 376.28 382.25 Td (of ) Tj ET Q q 0 0 0 rg BT 387.36 382.25 Td (the ) Tj ET Q q 0 0 0 rg BT 402.32 382.25 Td (end ) Tj ET Q q 0 0 0 rg BT 419.50 382.25 Td (of ) Tj ET Q q 0 0 0 rg BT 430.57 382.25 Td (the ) Tj ET Q q 0 0 0 rg BT 445.53 382.25 Td (period ) Tj ET Q q 0 0 0 rg BT 473.82 382.25 Td (covered ) Tj ET Q q 0 0 0 rg BT 508.21 382.25 Td (by ) Tj ET Q q 0 0 0 rg BT 520.95 382.25 Td (this ) Tj ET Q q 0 0 0 rg BT 538.14 382.25 Td (report ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.25 Td (based ) Tj ET Q q 0 0 0 rg BT 75.27 370.25 Td (on ) Tj ET Q q 0 0 0 rg BT 87.77 370.25 Td (such ) Tj ET Q q 0 0 0 rg BT 108.60 370.25 Td (evaluation; ) Tj ET Q q 0 0 0 rg BT 155.53 370.25 Td (and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 346.25 Td (\(d\) ) Tj ET Q q 0 0 0 rg BT 100.44 346.25 Td (Disclosed ) Tj ET Q q 0 0 0 rg BT 142.66 346.25 Td (in ) Tj ET Q q 0 0 0 rg BT 153.22 346.25 Td (this ) Tj ET Q q 0 0 0 rg BT 170.45 346.25 Td (report ) Tj ET Q q 0 0 0 rg BT 197.11 346.25 Td (any ) Tj ET Q q 0 0 0 rg BT 214.33 346.25 Td (change ) Tj ET Q q 0 0 0 rg BT 245.42 346.25 Td (in ) Tj ET Q q 0 0 0 rg BT 255.98 346.25 Td (the ) Tj ET Q q 0 0 0 rg BT 270.98 346.25 Td (registrant) Tj ET Q q 0 0 0 rg BT 311.52 346.25 Td (s ) Tj ET Q q 0 0 0 rg BT 318.19 346.25 Td (internal ) Tj ET Q q 0 0 0 rg BT 351.52 346.25 Td (control ) Tj ET Q q 0 0 0 rg BT 382.62 346.25 Td (over ) Tj ET Q q 0 0 0 rg BT 403.17 346.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 440.93 346.25 Td (reporting ) Tj ET Q q 0 0 0 rg BT 480.37 346.25 Td (that ) Tj ET Q q 0 0 0 rg BT 498.14 346.25 Td (occurred ) Tj ET Q q 0 0 0 rg BT 535.90 346.25 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.25 Td (the ) Tj ET Q q 0 0 0 rg BT 64.69 334.25 Td (registrant) Tj ET Q q 0 0 0 rg BT 105.23 334.25 Td (s ) Tj ET Q q 0 0 0 rg BT 111.59 334.25 Td (most ) Tj ET Q q 0 0 0 rg BT 133.52 334.25 Td (recent ) Tj ET Q q 0 0 0 rg BT 160.41 334.25 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 184.54 334.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 215.33 334.25 Td (\(the ) Tj ET Q q 0 0 0 rg BT 233.35 334.25 Td (registrant) Tj ET Q q 0 0 0 rg BT 273.89 334.25 Td (s ) Tj ET Q q 0 0 0 rg BT 280.25 334.25 Td (fourth ) Tj ET Q q 0 0 0 rg BT 307.16 334.25 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 331.29 334.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 362.08 334.25 Td (in ) Tj ET Q q 0 0 0 rg BT 372.33 334.25 Td (the ) Tj ET Q q 0 0 0 rg BT 387.02 334.25 Td (case ) Tj ET Q q 0 0 0 rg BT 406.70 334.25 Td (of ) Tj ET Q q 0 0 0 rg BT 417.50 334.25 Td (an ) Tj ET Q q 0 0 0 rg BT 429.41 334.25 Td (annual ) Tj ET Q q 0 0 0 rg BT 458.54 334.25 Td (report\) ) Tj ET Q q 0 0 0 rg BT 488.21 334.25 Td (that ) Tj ET Q q 0 0 0 rg BT 505.68 334.25 Td (has ) Tj ET Q q 0 0 0 rg BT 521.48 334.25 Td (materially ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.25 Td (af) Tj ET Q q 0 0 0 rg BT 57.59 322.25 Td (fected, ) Tj ET Q q 0 0 0 rg BT 87.01 322.25 Td (or ) Tj ET Q q 0 0 0 rg BT 97.84 322.25 Td (is ) Tj ET Q q 0 0 0 rg BT 107.01 322.25 Td (reasonably ) Tj ET Q q 0 0 0 rg BT 152.83 322.25 Td (likely ) Tj ET Q q 0 0 0 rg BT 178.10 322.25 Td (to ) Tj ET Q q 0 0 0 rg BT 188.38 322.25 Td (materially ) Tj ET Q q 0 0 0 rg BT 231.42 322.25 Td (af) Tj ET Q q 0 0 0 rg BT 239.00 322.25 Td (fect, ) Tj ET Q q 0 0 0 rg BT 258.99 322.25 Td (the ) Tj ET Q q 0 0 0 rg BT 273.71 322.25 Td (registrant) Tj ET Q q 0 0 0 rg BT 314.25 322.25 Td (s ) Tj ET Q q 0 0 0 rg BT 320.64 322.25 Td (internal ) Tj ET Q q 0 0 0 rg BT 353.68 322.25 Td (control ) Tj ET Q q 0 0 0 rg BT 384.51 322.25 Td (over ) Tj ET Q q 0 0 0 rg BT 404.78 322.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 442.26 322.25 Td (reporting; ) Tj ET Q q 0 0 0 rg BT 484.19 322.25 Td (and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.25 Td (5. ) Tj ET Q q 0 0 0 rg BT 58.93 298.25 Td (The ) Tj ET Q q 0 0 0 rg BT 76.02 298.25 Td (registrant) Tj ET Q q 0 0 0 rg BT 116.56 298.25 Td (s ) Tj ET Q q 0 0 0 rg BT 121.99 298.25 Td (other ) Tj ET Q q 0 0 0 rg BT 144.08 298.25 Td (certifying ) Tj ET Q q 0 0 0 rg BT 184.50 298.25 Td (of) Tj ET Q q 0 0 0 rg BT 192.65 298.25 Td (ficer ) Tj ET Q q 0 0 0 rg BT 212.50 298.25 Td (and ) Tj ET Q q 0 0 0 rg BT 228.48 298.25 Td (I ) Tj ET Q q 0 0 0 rg BT 233.36 298.25 Td (have ) Tj ET Q q 0 0 0 rg BT 253.78 298.25 Td (disclosed, ) Tj ET Q q 0 0 0 rg BT 295.03 298.25 Td (based ) Tj ET Q q 0 0 0 rg BT 319.35 298.25 Td (on ) Tj ET Q q 0 0 0 rg BT 330.89 298.25 Td (our ) Tj ET Q q 0 0 0 rg BT 345.76 298.25 Td (most ) Tj ET Q q 0 0 0 rg BT 366.75 298.25 Td (recent ) Tj ET Q q 0 0 0 rg BT 392.72 298.25 Td (evaluation ) Tj ET Q q 0 0 0 rg BT 435.91 298.25 Td (of ) Tj ET Q q 0 0 0 rg BT 445.78 298.25 Td (internal ) Tj ET Q q 0 0 0 rg BT 477.86 298.25 Td (control ) Tj ET Q q 0 0 0 rg BT 507.73 298.25 Td (over ) Tj ET Q q 0 0 0 rg BT 527.04 298.25 Td (financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.25 Td (reporting, ) Tj ET Q q 0 0 0 rg BT 92.31 286.25 Td (to ) Tj ET Q q 0 0 0 rg BT 103.25 286.25 Td (the ) Tj ET Q q 0 0 0 rg BT 118.63 286.25 Td (registrant) Tj ET Q q 0 0 0 rg BT 159.17 286.25 Td (s ) Tj ET Q q 0 0 0 rg BT 166.22 286.25 Td (auditors ) Tj ET Q q 0 0 0 rg BT 201.60 286.25 Td (and ) Tj ET Q q 0 0 0 rg BT 219.19 286.25 Td (the ) Tj ET Q q 0 0 0 rg BT 234.57 286.25 Td (audit ) Tj ET Q q 0 0 0 rg BT 257.72 286.25 Td (committee ) Tj ET Q q 0 0 0 rg BT 303.09 286.25 Td (of ) Tj ET Q q 0 0 0 rg BT 314.58 286.25 Td (the ) Tj ET Q q 0 0 0 rg BT 329.96 286.25 Td (registrant) Tj ET Q q 0 0 0 rg BT 370.50 286.25 Td (s ) Tj ET Q q 0 0 0 rg BT 377.55 286.25 Td (board ) Tj ET Q q 0 0 0 rg BT 403.48 286.25 Td (of ) Tj ET Q q 0 0 0 rg BT 414.97 286.25 Td (directors ) Tj ET Q q 0 0 0 rg BT 453.11 286.25 Td (\(or ) Tj ET Q q 0 0 0 rg BT 467.93 286.25 Td (persons ) Tj ET Q q 0 0 0 rg BT 501.64 286.25 Td (performing ) Tj ET Q q 0 0 0 rg BT 549.79 286.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.25 Td (equivalent ) Tj ET Q q 0 0 0 rg BT 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