The Company is a shell company as defined in Rule 12b-2 of the Securities Exchange Act of 1934, as amended, and our principal assets consist of cash balances and investments thereof. Our Board of Directors has adopted a resolution indicating that we have the present intention to be engaged in and consider the feasibility, costs, risks profit potential and such other matters prudent and appropriate for the selection of, and to allow us to become engaged in a business or businesses other than investing, reinvesting, owning, holding or trading in securities, directly or through majority owned subsidiaries, by no later than November 21, 2007.