HEALTH CARE PROVIDERSSELF-INSURANCE TRUST

FINANCIALSTATEMENTSANDINDEPENDENTAUDITORS'REPORT

YEARS ENDED OCTOBER 31,2001 AND 2000

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TABLE OF CONTENTS

INDEPENDENT AUDITORS' REPORT

FINANCIAL STATEMENTS

Balance Sheets

Statements of Operations and ParticipantS' Deficit

Statements of Cash Flows

Statements of Comprehensive Income

Notes to Financial Statements

SUPPLEMENTARY INFORMATION

Schedules of Insurance

Schedules of General and Administration

Reference Page

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SCHEDULE 1 13

SCHEDULE 2 13

INDEPENDENT AUDITORS' REPORT

To The Board of TrusteesHealth Care Providers Self-Insurance TrustAlbany, New York

We have audited the accompanying balance sheets of Health Care Providers Self-InsuranceTrust as of October 31, 2001 and 2000, and the related statements of operations andparticipants' 'deficit, cash flows and comprehensive income for the years then ended. Thesefinancial statements are the responsibility of the Trust's management. Our responsibility is toexpress an opinion on these financial statements based on our audits.

We conducted our audits in accordance with auditing standards generally accepted in theUnited States of America. Those standards require that we plan and perform the audits toobtain reasonable assurance about whether the fmancial statements are free of material

misstatement. An audit includes examining, onatest baSis, evidence supporting the amountsand disclosures in the fmancial statements~ An audit also includes assessing the accountingprinciples used and significant~stimatesmade bynianagement, as well as evaluating theoverall fmancial statement presentation. We believe that our audits provide a reasonable basisfor our opinion.

In our opinion, the fmancial statements referred to above present fairly, in all materialrespects, the financial position of Health Care Providers Self-Insurance Trust as of October 31,2001 and 2000, and results of its operations and its cash flows for the years then ended inconformity with accounting principles generally accepted in the United States of America.

Our audits were conducted for the purpose of forming an opinion on the basic fmancialstatements taken as a whole. The accompanying supplementary information is presented forpurposes of additional analysis and is not a required part of the basic financial statements.Such information has been subjected to the auditing procedures applied in the audits of thebasic financial statements and, in our opinion, is fairly stated in all material respects in relation

to the basic financial statements taken as a whole. (. '\) ,'. >.,. .

HEALTH CARE PROVIDERS SELF-INSURANCE TRUSTBALANCE SHEETS

OCTOBER 31,2001 AND 2000

2001 2000

ASSETS

CURRENT ASSETSCash-Note 5Marketable Securities-Note 2 and 5Accounts Receivable-Note 3Interest and Dividends ReceivableIncome Tax Refund ReceivableNote Receivable-Note 4

Prepaid Income TaxesPrepaid Actuarial ServicesPrepaid Loss Adjusting ExpenseOther Prepaid ExpensesDeferred Income Tax Benefit

Total Current Assets

$ 183,25812,013,3993,018,223

107,44472,891

447,8811,5592,0005,000

23,297900.533

16,775,485

TOTAL ASSETS $ 16,805.527

PROPERTY AND EQUIPMENTEquipment and Leasehold ImprovementsLess Accumulated Depreciation and Amortization

Property and Equipment-Net.

The accompanying notes are an integral part of these [mancial statements.-2-

$ 435,29715,249,0841,844,496

111,84372,891

471,1861,6592,000

053,297

433,36618,675,119

116,87476,66240,212

$ 18,715,331

LIABILITIES AND PARTICIPANTS' EQUITY (DEFICIT)

CURRENT LIABILITIESAccounts Payable $ 16,002 $ 24,967Unearned Contributions-Note 6 3,109,476 2,838,335Claims Reserve-Note 7 13,477,361 13,901,000Accrued Fund Assessment 1,551,649 1,208,360Accrued Management Fee-Note 8 55,168 95,369Accrued Loss Adjusting Expense 29,238 25,051Other Accrued Expenses 21,504 30,570

Total Current Liabilities 18,260,398 18,123,652

PARTICIPANTS' EQUITY (DEFICIT)Participants' Deficit (1,214,402) (315,175)Net Unrealized Gain (Loss) on Marketable Securities-Net of Taxes (240,469) 906,854

Total Participants' Equity (Deficit) (1,454,871) 591,679

TOTAL LIABILITIES AND PARTICIPANTS'EQUITY (DEFICIT) $ 16,805,527 $ 18,715,331

HEALTH CARE PROVIDERS SELF-INSURANCE TRUSTSTATEMENTS OF OPERATIONS AND PARTICIPANTS' DEFICIT

FOR THE YEARS ENDED OCTOBER 31, 2001 AND 2000

2001 % 2000 %

CONTRIBUTIONSContributions Written $ 10,605,217 $ 8,529,571Less Program Administration Commissions (731,789) (613,662)

Net Contributions Written 9,873,428 7,915,909Change in Unearned Contributions (271,141) (352,579)

Earned Contributions 9,602,287 7,563,330

OTHER INCOMEInterest 415,822 474,569Dividends 65,675 79,835Gain on Sale of Securities 158,841 336,609Foreign Tax Refund 0 2,115

Total Other Income 640,338 893,128

TOTAL INCOME 10,242,625 100.0 8,456,458 100.0

OPERATING EXPENSESClaims Incurred

Claims 7,682,341 75.0 7,291,349 86.2Claims Reserve (423,639) .. (518,061) --1Ul

Total Claims Incurred 7,258,702 . .. 70.9 6,773,288 80.1Loss Adjusting Expense 608603 ---li. 603,108 ----2..L

Incurred Claims and Adjusting Expense .7,867,305 7,376,396

Workers Compensation Fund Assessment 1,593,080 1,159,072 ---1li

Insurance-Schedule 1 433,443 439,108

General and Administration-Schedule 2 1,247,924 --1U.. 1,011,450 --1Ul

Total Operating Expenses 11,141,752 108.8 9,986,026 -1lli

LOSS FROM OPERATIONS (899,127) (8.8) (1,529,568) (18.1)

INCOME TAXES-Note 9 100 11,281

LOSS BEFORE CUMULATIVE EFFECT OFA CHANGE IN ACCOUNTING PRINCIPLE (899,227) (8.8) (1,540,849) (18.2)

CUMULATIVE EFFECT ON PRIOR YEARSOF ACCOUNTING CHANGE-Net of Taxes 0 1 ,032,725 --1U..

NET LOSS (899,227) (8.8) (508,124) (6.0)

PARTICIPANTS' EQUITY (DEFICIT)-Beginning (315,175) 192,949

PARTICIPANTS' DEFICIT-Ending $ (1,214.402) $ (315,175)

The accompanying notes are an integral part of these fmancial statements.-3-

u u- - - ----

The accompanying notes are an integral part of these fmancial statements.-4-

HEALTH CARE PROVIDERS SELF-INSURANCE TRUSTSTATEMENTS OF CASH FLOWS

FOR THE YEARS ENDED OCTOBER 31,2001 AND 2000

2001 2000

CASH FLOWS FROM OPERATING ACTIVITIES

Cash Received from Participants $ 9,431,490 $ 7,457,710Interest and Dividends Received 485,896 548,670Expenses Paid in Cash (11,953,650) (11,273,289)Interest Paid in Cash (13,518) (11,168)Income Tax Refunds Received in Cash 0 112,125Income Taxes Paid in Cash 0 (4,688)Other Receipts 0 2,115

Net Cash Used by Operating Activities (2,049,782) (3,168,525)

CASH FLOWS FROM INVESTING ACTIVITIES

Cash Paid for Investments (3,825,310) (9,741,249)Cash Proceeds from Sale of Investments 5,105,346 11 ,822,403Cash Proceeds from Bonds Maturing/Called 500,000 748,000Cash Proceeds from Loan Receivable-AffIliate 23,305 0

Cash Paid for Purchase of Equipment (5,598) 07,064)

Net Cash Provided by Investing Activities 1,797,743 2,812,090

NET DECREASE IN CASHAND CASH EQUIVALENTS (252,039) (356,435)

CASH AND CASH EQUIVALENTS-Beginning of Year 435,297 791,732

CASH AND CASH EQUIVALENTS-End of Year $ 183,258 $ 435,297

d - - - - - -- -- -

The accompanying notes are an integral part of these financial statements.-5-

HEALTH CARE PROVIDERS SELF-INSURANCE TRUSTSTATEMENTS OF CASH FLOWS

FOR THE YEARS ENDED OCTOBER 31,2001 AND 2000

2001 2000

RECONCILIATION OF NET LOSS TO NET CASH USEDBY OPERATING ACTIVITIES

NET LOSS $ (899,227) $ (508,124)

ADJUSTMENTS TO RECONCILE NET LOSS TO NETCASH USED BY OPERATING ACTIVITIES

Depreciation and Amortization 15,769 14,762Gain on Sale of Securities (158,841) (336,609)

Decrease (Increase) in:

Accounts Receivable (1,173,727) (1,071,861)Interest and Dividends Receivable 4,399 (5,734)Income Tax Refund Receivable 0 20,709Prepaid Income Taxes 100 (1,659)Prepaid Loss Adjusting Expense (5,000) 0

Other Prepaid Expenses.. . 30,000 15,243Deferred Income Tax Benefit 0 633,689

Increase (Decrease) in:

Accounts Payable (8,966) (118,263)Unearned Coniributions 271,141 352,579Claims Reserve (423,639) (2,082,796)Accrued Fund Assessment 343,289 54,039Accrued Management Fee (40,201) 2,486Accrued Income Taxes 0 (2,011)Accrued Loss Adjusting Expense 4,187 (69,069)Other Accrued Expenses (9,066) (65,906)

Total Adjustments (1,150,555) (2,660,401)

NET CASH USED BY OPERATING ACTIVITIES $ (2,049,782) $ (3,168,525)

HEALTH CARE PROVIDERS SELF-INSURANCE TRUSTSTATEMENTS OF COMPREHENSIVE INCOME

FOR THE YEARS ENDED OCTOBER 31, 2001 AND 2000

The accompanying notes are an integral part of these fmancial statements.-6-

~T

2001 2000

NET LOSS $ (899.227) $ (508.124)

OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX

Unrealized Gains (Losses) on Marketable Securities

Unrealized Holding Gains (Losses) Arising During Period (1,490,760) 1,085,745

Less: Reclassification Adjustment for Gains (Losses)included in Net Loss 023.730) (415,588)

Other Comprehensive Income (Loss) 0.614,490) 670.157

TOTAL COMPREHENSIVE INCOME (LOSS) $ (2.513.717) $ 162.033

HEALTH CARE PROVIDERS SELF-INSURANCE TRUSTNOTES TO FINANCIAL STATEMENTS

OCTOBER 31, 2001 AND 2000

NOTE I-Summary of Significant Accounting Policies

The following is a summary of significant accounting policies consistently applied by management in thepreparation of the accompanying fmancial statements.

Trust Purpose-The Trust is a group self-insurance organization providing Workers' Compensationcoverage in the State of New York to employers in the home care industry. In addition, the Trustpromotes a safety program dedicated to the prevention of occupational accidents and disease and toimprove the medical care and promote the rehabilitation of injured workers.

Income Recognition-Contributions are considered short-duration contracts and are recognized as incomeover the period of the contract.

Accounting Method-The fmancial statements of the Trust have been prepared on the accrual basis.

Concentration of Credit Risk-The Trust maintains its cash balances at various fmancial institutions in New

York. Accounts are insured by the Federal Depository Insurance Corporation up to $100,000. AtOctober 31,2001, there were uninsured cash balances of $148,756. The Trust also maintains cashbalances in mutual fund money market accounts and securities with a bank investment department locatedin New York. These accounts are insured up to $200 million for fraud, theft or bankruptcy of thebrokerage firm. They are otherwise uninsured. At October 31, 2001, the Trust's uninsured cash andsecuritiesbalanceswere $8,866,038. .

Cash and Cash Equivalents-For the purpose of the statements of cash flows, the Trust considers all cashand invested cash with original maturities 'not in excess of three months to be cash equivalents.

Use of Estimates-The preparation of fmancial statements in conformity with generally acceptedaccounting principles requires management to make estimates and assumptions that affect the reportedamounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of thefmancial statements and the reported amounts of revenues and expenses during the reporting period.Actual results could differ from those estimates.

Contributions-Contributions are recorded based on estimated payroll of the participating participants. Nofmal adjustment has been made in the 2001 contract year for the difference between estimatedcontributions and contributions calculated based on audited payrolls of the participants. Such fmaladjustments will be made prospectively upon completion of such audits.

Property and Equipment-Property and equipment are stated at cost. Depreciation is being recovered bythe straight-line method for book purposes and the accelerated method for tax purposes. The estimateduseful lives of the assets are as follows:

EquipmentLeasehold Improvements

5-7 years5 years

Income Taxes-The Trust recognizes the tax effects of transactions in the year in which such transactionsenter in the determination of net income, regardless of when recognized for tax purposes. The Trust willrecognize deferred taxes for income and expenses that are reported in different periods for tax andfmancial statement purposes in accordance with Statement of Financial Accounting Standards No. 109,Accounting for Income Taxes.

Reclassifications-Certain reclassifications have been made in the 2000 fmancial statements to conform

with the 2001 financial statement presentation.-7-

HEALTH CARE PROVIDERS SELF-INSURANCE TRUSTNOTES TO FINANCIAL STATEMENTS

OCTOBER 31,2001 AND 2000

NOTE 2-Marketable Securities

The Trust's investments in marketable equity and debt securities are classified as available-for-sale. Realizedgains and losses, determined by using the specific identification method, are included in earnings; unrealizedgains and losses are reported as a separate component of participants' equity.

The amortized costs and fair value were as follows at October 31, 2001 and 2000:

AmortizedCosts

GrossUnrealized

Gains

GrossUnrealized

LossesFairValue

October 31,2001

Available for Sale:Equity SecuritiesUS Treasury and Agency ObligationsCorporate Obligations

Totals

October 31, 2000

Available for Sale:

Equity Securities.US Treasury and Agency ObligationsCorporate Obligations

Totals

Unrealized gains (losses) on securities available-for-sale in the amount of $(240,469) and $906,854 have beencharged to participants' equity, net of tax, for the years ended October 31,2001 and 2000, respectively.

The amortized costs and fair value of debt securities at October 31, 2001, by contractual maturity, are shownbelow.

AmortizedCosts

FairValue

US Treasury and Agency obligations:Due in one year or lessDue after one year through five yearsDue after five years through ten yearsDue after ten years

Total

$ 198,9961,573,703

575,819807,776

3,156,294

$ 206,8641,613,505

610,779889,144

3,320,292$ $

Corporate obligations:Due in one year or lessDue after one year through five yearsDue after five years through ten yearsDue after ten years

Total

$ 259,3261,116,337

478,87382,958

1,937,494

$ 267,9001,201,796

504,66281,393

2,055,751$ $

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$ 7,160,080 $ 940,633 $ 1,463,357 $ 6,637,3563,156,294 163,998 0 3,320,2921,937,494 119,820 1,563 2,055,751

$ 12,253,868 $ 1,224,451 $ 1,464.920 $ 12,013,399

$7,996,401 $ 2,288,745 $ 936,246 $ 9,348,9003,796;806 69;227 28,960 3,837,0732,074,074 19,441 30,404 2,063,111

$ 13,867,281 $ 2,377,413 $ 995,610 $ 15,249,084

HEALTH CARE PROVIDERS SELF-INSURANCE TRUSTNOTES TO FINANCIAL STATEMENTS

OCTOBER 31,2001 AND 2000

NOTE 2-Continued

During 2001 and 2000, sales proceeds and gross realized gains and losses on securities classified asavailable- for-sale were:

Gross Realized Losses

Sale Proceeds

Gross Realized Gains

NOTE 3-Accounts Receivable

The Trust has several participants covered under a retention plan. After expiration of a coverage in aplan year, the participants actual losses are compared to the loss estimate. Participants actual losses thatexceed the loss estimate are charged an additional contribution and losses that are lower than the lossestimate result in a return of contribution. The net additional adjustment of contribution to be billed,which is included in accounts receivable is $966,686 for the year ending October 31, 2001. The retentionplan adjustments had not matured enough for adjustments in prior years.

NOTE 4-Note Receivable

The Trust provides a $600,000 line-oFcredit to Health Care Providers Disability Benefits Trust, a relatedparty. Interest on the unpaid principal balance is at theIRS Short-Tenn Applicable Rate (the rate being3.52% for October 31,2(01) and the note matures October 31,2002. Interest income was $17,497 and$39,618 for 2001 and 2000, respectively.

NOTE 5-Letter-of-Credit

The Trust has an irrevocable letter-of-credit with JP Morgan Chase Bank in the amount of $550,000expiring April 16, 2002. The Trust incurred letter-of-credit charges of $5,500 and $5,515 in 2001 and2000, respectively. Restricted amounts for the letter-of-credit are $69,305 and $213,688 in cash and$692,557 and $497,420 in marketable securities for 2001 and 2000, respectively.

NOTE 6-Unearned Contributions

Contributions are billed in advance of the respective coverage periods. Revenue is recognized as earnedratably over the coverage period and the balance is recorded as unearned contributions.

In the event that Trust funds, including reinsurance, are not sufficient to cover operating costs, the Trust'sparticipants would be assessed additional contributions to support its continued operations. Also, in theevent a participant is unable to pay their respective obligations or leaves the Trust, the Trust would beresponsible to satisfy all obligations of that participant.

NOTE 7-Claims Reserve

Liabilities for Reported Claims and Incurred But Not Reported (IBNR) claims are estimated on the inputof consulting actuaries and Trust management. The Trust's policy is to establish reserves for losses forreported claims on a case basis and for incurred but not reported claims on a basis of historicallyestablished industry statistical data and the Trust's own historical experience.

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2001 2000

$ 5,605,346 $ 12,570,403

$ 519,445 $ 1,910,368

$ (360,604) $ (1,573,759)

HEALTH CARE PROVIDERS SELF-INSURANCE TRUSTNOTES TO FINANCIAL STATEMENTS

OCTOBER 31, 2001 AND 2000

NOTE 7-Continued

Since the Trust was recently organized, sufficient historical claims experience does not exist to support itsestimate of amounts ultimately payable for future claims incurred as of October 31, 2001 and 2000.However, management believes the recorded amounts fairly present the liability for estimated futureclaims based upon current asswnptions and levels of activity.

Expected recoveries of $534,789 have been identified as of October 31,2001 which reduces total reservesby this amount. Expected recoveries will be adjusted annually on a go forward basis.

Claims Reserve includes IBNR of $1,862,302 and $3,728,639 for 2001 and 2000, respectively.

NOTE 8-Accrued Management Fee

The Trust pays a management fee on gross contributions written to HCP Resources, Inc., a related party.Management fee expense was $522,486 and $438,330 for 2001 and 2000, respectively.

NOTE 9- Income Taxes

The Trust's income tax expense (benefit) was as follows:

2000

Deferred .Federal corporate tax expenSeNYS franchise tax

$ $ 101,6790

Total 101,679

CurrentFederal corporate tax expense (benefit)NYS franchise tax expense

(91,416)1.018

Total (90,398)

Total income tax expense $ $ 11.281

The Trust has Federal and New York State net operating loss carryforwards of $2,306,520 and$3,795,089 expiring through October 31,2021.

The provision for federal income tax differs from the amount of income tax determined by applying thefederal statutory rate to pre-tax income. The differences are primarily due to certain expenses deductiblefor financial reporting purposes that are not deductible for tax purposes and provisions for various stateincome taxes.

NOTE 100Interest Expense

The Trust fmances its Trust reinsurance policy and incurred interest charges of $13,518 and $11,168 for2001 and 2000, respectively.

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2001

0Q

Q

0100

100

100

HEALTH CARE PROVIDERS SELF-INSURANCE TRUSTNOTES TO FINANCIAL STATEMENTS

OCTOBER 31,2001 AND 2000

NOTE II-Reinsurance

The Trust has been provided specific excess insurance as required by the State of New York, to statutoryfor workers' compensation and for employer' s liability. Both are excess of the retention of $250,000each accident. The Trust also has excess aggregate for both coverages at 100% of contributions for thepolicy year on a statutory basis. The premium for such coverage has been calculated based on payrolls ofthe Trust's Participants. To the extent that the reinsurance company should be unable to meet itsobligations under the existing agreements, the Trust would be liable for such defaulted amounts.

NOTE 12-Commitments and Contingencies

The Trust has entered into a participation agreement with each participant to provide risk managementservices, workers' compensation and employer's liability coverage. The agreement stipulates, amongother things, that each participant is jointly and severally liable for the workers' compensation andemployers' liability obligations of the Trust and its Participants which were incurred during theparticipant's period of participation in the Trust, irrespective of the subsequent termination of theparticipation in the Trust, the insolvency or bankruptcy of another participant of the Trust, or other factsor circumstances. Accordingly, the fmancial viability of the Trust is contingent upon the fmancialviability of the individual participants.

NOTE 13-Comprehensive Income

Related tax effects allocated to othercompreheru;iveincome is as follows:

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BeforeTax Tax (Expense) Net of TaxAmount Benefit Amount

October 31, 2001

Unrealized Gains (Losses) on Securities:

Unrealized Holding Gains Arising During $ (1,490,760) $ 0 $ (1,490,760)Period

Less: Reclassification Adjustment forGains Realized in Net Income (123,730) 0 (123,730)

Other Comprehensive Income $ (1,614,490) $ 0 $ (1,614,490)

October 31, 2000

Unrealized Gains on Securities:

Unrealized Holding Gains Arising DuringPeriod $ 1,645,068 $ (559,323) $ 1,085,745

Less: Reclassification Adjustment forGains Realized in Net Income (629,679) 214,091 (415,588)

Other Comprehensive Income $ 1,015,389 $ (345,232) $ 670,157

HEALTH CARE PROVIDERS SELF-INSURANCE TRUSTNOTES TO FINANCIAL STATEMENTS

OCTOBER 31,2001 AND 2000

NOTE 14-Change in Accounting Principle

At the beginning of the prior year, the Trust changed its method of recording the liability for unpaidclaims from a non-discounted to a discounted basis in order to more appropriately reflect this estimate andbetter match costs.

This change in accountinghad been recognized by recording the cwnulative effect (through October 31,2(00) as a current period item. Net income for the year ended October 31, 2000 increased byapproximately $1,032,725, net of taxes of $532,010, because of this change. The pro forma effects ofthis change in accounting as if the method was applied as of November 1, 1998, have been presented onthe face of the statement of operations for 2000.

NOTE 15- Loss Contingency

The Trust has fIled a civil action suit against a former participant seeking damages of approximately$519,000. The former participant has initiated a counterclaim against the Trust for damages in an amountto be determined at trial. The former participant has yet to respond to demands that they provide thefactual basis for its allegations. The Trust's investigation to date indicates that the claims are withoutmerit. Accordingly, the Trust has denied the counterclaim and proposes to contest them vigorously.

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lJIT

SUPPLEMENTARY INFORMAnON

SCHEDULE 1HEALTH CARE PROVIDERS SELF-INSURANCE TRUST

SCHEDULES OF INSURANCEFOR THE YEARS ENDED OCTOBER 31,2001 AND 2000

See accompanying auditors' report.-13-

'JI'

2001 % 2000 %

Trust Reinsurance $ 423,466 4.1 $ 423,700 5.0Other Insurance 9,977 15,408 --li

TOTAL INSURANCE $ 433,443 4.2 $ 439,108 5.2

SCHEDULE 2SCHEDULES OF GENERAL AND ADMINISTRATION

FOR THE YEARS ENDED OCTOBER 31, 2001 AND 2000

2001 % 2000 %

Management Fee $ 522,486 5.2 $ 438,330 5.2Financing Supplement Expense 292,759 2.9 201,496 2.4Professional Fees 122,379 1.3 97,437 1.2Investment Administration Expense 86,076 0.8 65,883 0.8Legislative and Regulatory 52,867 0.5 53,339 0.6Legal Retainer 28,500 0.3 25,264 0.3Actuarial Services '" 24,000 0:2 24,000 0.3Workers' Compensation Audits 19;123 0.2 17,733 0.2Depreciation and Amortization 15,769 0.2 14,762 0.2Member Seminars 15,000 0.1 0 0.0Interest Expense 13,518 0.1 11, 168 0.1Meetings and Travel 12,335 0.1 9,894 0.1Donations 10,000 0.1 16,000 0.2Marketing and Promotion 6,896 0.1 13,339 0.2Letter of Credit Expense 5,500 0.1 5,515 0.1Political Contributions 5,000 0.0 5,000 0.1Telephone 3,950 0.0 3,500 0.0

Postage and Shipping 3,310 0.0 1,181 0.0

Office Supplies 2,323 0.0 3,064 0.0

Other Meetings 1,918 0.0 1,367 0.0

Maintenance and Repairs 1,875 0.0 2,036 0.0

General Expense 2,175 0.0 1,077 0.0Conferences Attended 100 0.0 0 0.0

Bank Charges 65 65

TOTAL GENERAL ANDADMINISTRAnON $ 1,247,924 12.2 $ 1,011,450 12.0

.

SUPPLEMENTARY INFORMATION

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