----

----

| Nevada                                                         | 98-0373867                        |
|----------------------------------------------------------------|-----------------------------------|
| (State or other jurisdiction of incorporation or organization) | (IRS Employer Identification No.) |

|   | Large accelerated filer | o                                                                       | Accelerated filer         | o |
|--------|-------------------------|-------------------------------------------------------------------------|---------------------------|---|
|   | Non- accelerated filer  | o     (Do not check if a smaller reporting company) | Smaller reporting company | o |

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 OF 

| Part  I – FINANCIAL INFORMATION |                                                                                       |
|-------------------------------------------------|--------------------------------------------------------------------------------------------|
|                                            |                                                                                       |   |
| Item 1.                                         | Financial Statements:                                                                      |   |
|                                            |                                                                                       |   |
|                                            | Balance Sheets                                                                             | 4 |
|                                            |                                                                                       |   |
|                                            | Statements of Operations                                                                   | 5 |
|                                            |                                                                                       |   |
|                                            | Statements of Cash Flows                                                                   | 6 |
|                                            |                                                                                       |   |
|                                            | Notes to Financial Statements                                                              | 8 |
|                                            |                                                                                       |   |
| Item 2.                                         | Management’s Discussion and Analysis of Financial Condition and Results of Operation | 12 |
|                                            |                                                                                       |   |
| Item 3.                                         | Quantitative and Qualitative Disclosures About Market Risk                                 | 16 |
|                                            |                                                                                       |   |
| Item 4.                                         | Controls and Procedures                                                                    | 17 |
|                                            |                                                                                       |   |
| Part II – OTHER INFORMATION               |                                                                                       |
|                                            |                                                                                       |   |
| Item 1.                                         | Legal Proceedings                                                                          | 18 |
|                                            |                                                                                       |   |
| Item 1A.                                        | Risk Factors                                                                               | 18 |
|                                            |                                                                                       |   |
| Item 2.                                         | Unregistered Sales of Equity Securities and Use of Proceeds                                | 18 |
|                                            |                                                                                       |   |
| Item 3.                                         | Defaults Upon Senior Securities                                                            | 18 |
|                                            |                                                                                       |   |
| Item 5.                                         | Other Information                                                                          | 18 |
|                                            |                                                                                       |   |
| Item 6.                                         | Exhibits                                                                                   | 18 |
|                                            |                                                                                       |   |
| SIGNATURES                                      | 19                                                                                         |

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ci

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R

|                                                               |   | OCTOBER 31, |       |   | JULY 31, |   |
|--------------------------------------------------------------------|--------|-------------|------------|--------|----------|--------|
|                                                               |   | 2010        |       |   | 2010     |   |
|                                                               |   |        |       |   |     |   |
| ASSETS                                                             |   |        |       |   |     |   |
|                                                               |   |        |       |   |     |   |
| Current                                                            |   |        |       |   |     |   |
| Cash                                                               |   | $           | 5,740      |   |     | $      | 58,300 |   |
| Amounts receivable (Note 8)                                        |   |        | 15,000     |   |     |   | - |   |
| Prepaid expenses                                                   |   |        | 4,912      |   |     |   | 8,845 |   |
|                                                               |   |        | 25,652     |   |     |   | 67,145 |   |
|                                                               |   |        |       |   |     |   |   |   |
| Investment in EHHO (Note 5)                                        |   |        | 541,246    |   |     |   | 541,858 |   |
| Oil and gas properties, unproven (Note 6)                          |   |        | 132,080    |   |     |   | 128,000 |   |
|                                                               |   |        |       |   |     |   |   |   |
|                                                               |   | $           | 698,978    |   |     | $      | 737,003 |   |
|                                                               |   |        |       |   |     |   |   |   |
| LIABILITIES                                                        |   |        |       |   |     |   |   |   |
|                                                               |   |        |       |   |     |   |   |   |
| Current                                                            |   |        |       |   |     |   |   |   |
| Accounts payable                                                   |   | $           | 38,401     |   |     | $      | 3,592 |   |
| Advances payable (Note 7)                                          |   |        | 108,346    |   |     |   | 108,346 |   |
| Due to related parties (Note 8)                                    |   |        | 36,810     |   |     |   | 35,121 |   |
| Notes payable (Note 9)                                             |   |        | 24,145     |   |     |   | 23,702 |   |
|                                                               |   |        | 207,702    |   |     |   | 170,761 |   |
|                                                               |   |        |       |   |     |   |   |   |
| FUTURE INCOME TAX LIABILITY (Note 6)                               |   |        | 30,000     |   |     |   | 30,000 |   |
|                                                               |   |        | 237,702    |   |     |   | 200,761 |   |
|                                                               |   |        |       |   |     |   |   |   |
| STOCKHOLDERS’ EQUITY                                         |   |        |       |   |     |   |   |   |
|                                                               |   |        |       |   |     |   |   |   |
| Capital stock (Note 10)                                            |   |        |       |   |     |   |   |   |
| Authorized:                                                        |   |        |       |   |     |   |   |   |
| 200,000,000 common shares with a par value of $0.001 per share     |   |        |       |   |     |   |   |   |
| Issued and outstanding:                                            |   |        |       |   |     |   |   |   |
| 39,060,650 common shares (July 31, 2010: 39,060,650 common shares) |   |        | 39,060     |   |     |   | 39,060 |   |
| Additional paid-in capital                                         |   |        | 2,059,142  |   |     |   | 2,059,142 |   |
| Deficit accumulated during the exploration stage                   |   |        | (1,630,296 | )      |     |   | (1,555,674 | ) |
| Accumulated other comprehensive loss                               |   |        | (6,630     | )      |     |   | (6,286 | ) |
|                                                               |   |        | 461,276    |   |     |   | 536,242 |   |
|                                                               |   |        |       |   |     |   |   |   |
|                                                               |   | $           | 698,978    |   |     | $      | 737,003 |   |

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|                                                                           |   |               |       |   | CUMULATIVE RESULTS OF OPERATIONSFROM APRIL 9,1999 (INCEPTION) |   |
|--------------------------------------------------------------------------------|--------|--------------------|------------|--------|---------------------------------------------------------------|--------|
|                                                                           |   | THREE MONTHS ENDED |       |   | TO                                                            |   |
|                                                                           |   | OCTOBER 31,        |       |   | OCTOBER 31,                                                   |   |
|                                                                           |   | 2010               |       |   | 2009                                                          |   |   | 2010 |   |
|                                                                           |   |               |       |   |                                                          |   |   |   |   |
| Expenses                                                                       |   |               |       |   |                                                          |   |   |   |   |
| General and administrative                                                     |   | $                  | 26,759     |   |                                                          | $      | 2,510 |   |   | $ | 188,413 |   |
| Interest and finance fees (Notes 8 and 9)                                      |   |               | 642        |   |                                                          |   | 107 |   |   |   | 18,280 |   |
| Investor relations                                                             |   |               | -          |   |                                                          |   | - |   |   |   | 17,989 |   |
| Management fees (Note 8)                                                       |   |               | 21,233     |   |                                                          |   | - |   |   |   | 792,503 |   |
| Professional fees                                                              |   |               | 40,376     |   |                                                          |   | 16,630 |   |   |   | 236,868 |   |
| Property examination and expenditure costs                                     |   |               | -          |   |                                                          |   | 1,105 |   |   |   | 165,489 |   |
|                                                                           |   |               |       |   |                                                          |   |   |   |   |   |   |   |
| Loss before other items                                                        |   |               | (89,010    | )      |                                                          | $      | (20,352 | ) |   |   | (1,419,542 | ) |
|                                                                           |   |               |       |   |                                                          |   |   |   |   |   |   |   |
| Other Items                                                                    |   |               |       |   |                                                          |   |   |   |   |   |   |   |
| Management fees (Note 8)                                                       |   |               | 15,000     |   |                                                          |   |   |   |   |   | 15,000 |   |
| Dilution loss from EHHO (Note 5)                                               |   |               | -          |   |                                                          |   | - |   |   |   | (196,000 | ) |
| Loss from equity interest in EHHO (Note 5)                                     |   |               | (612       | )      |                                                          |   | - |   |   |   | (29,754 | ) |
|                                                                           |   |               |       |   |                                                          |   |   |   |   |   |   |   |
| Net Loss                                                                       |   | $                  | (74,622    | )      |                                                          | $      | 20,352 |   |   | $ | (1,630,296 | ) |
|                                                                           |   |               |       |   |                                                          |   |   |   |   |   |   |   |
| Basic and Diluted Net Loss Per Common Share                                    |   | $                  | (0.01      | )      |                                                          | $      | (0.01 | ) |   |   |   |   |
|                                                                           |   |               |       |   |                                                          |   |   |   |   |   |   |   |
| Weighted Average Number of Common Shares Outstanding – Basic and Diluted |   |               | 39,060,650 |   |                                                          |   | 31,060,650 |   |   |   |   |   |

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U

|                                                                        |   |               |    |   | CUMULATIVE RESULTS OF OPERATIONSFROM APRIL 9,1999(INCEPTION) |   |
|-----------------------------------------------------------------------------|--------|--------------------|---------|--------|--------------------------------------------------------------|--------|
|                                                                        |   | THREE MONTHS ENDED |    |   | TO                                                           |   |
|                                                                        |   | OCTOBER 31,        |    |   | OCTOBER 31,                                                  |   |
|                                                                        |   | 2010               |    |   | 2009                                                         |   |   | 2010 |   |
|                                                                        |   |               |    |   |                                                         |   |   |   |   |
| Cash Flows from Operating Activities                                        |   |               |    |   |                                                         |   |   |   |   |
| Net loss                                                                    |   | $                  | (74,622 | )      |                                                         | $      | (20,352 | ) |   | $ | (1,630,296 | ) |
|                                                                        |   |               |    |   |                                                         |   |   |   |   |   |   |   |
| Adjustments to reconcile net loss to net cash used in operating activities: |   |               |    |   |                                                         |   |   |   |   |   |   |   |
| Realized foreign exchange losses on settlement of notes payable             |   |               | -       |   |                                                         |   | - |   |   |   | 12,518 |   |
| Unrealized foreign exchange                                                 |   |               | 647     |   |                                                         |   |   |   |   |   | 647 |   |
| Stock-based compensation                                                    |   |               | -       |   |                                                         |   | - |   |   |   | 750,000 |   |
| Accrued interest                                                            |   |               | 641     |   |                                                         |   | 107 |   |   |   | 18,812 |   |
| Dilution loss                                                               |   |               |    |   |                                                         |   | - |   |   |   | 196,000 |   |
| Share of loss of equity investment                                          |   |               | 612     |   |                                                         |   | - |   |   |   | 29,754 |   |
| Changes in operating assets and liabilities:                                |   |               |    |   |                                                         |   |   |   |   |   |   |   |
| Amounts receivable                                                          |   |               | (15,000 | )      |                                                         |   |   |   |   |   | (15,000 | ) |
| Prepaid expenses                                                            |   |               | 3,933   |   |                                                         |   | - |   |   |   | (4,912 | ) |
| Accounts payable and accrued liabilities                                    |   |               | 34,809  |   |                                                         |   | 8,929 |   |   |   | 38,401 |   |
| Net cash used in operating activities                                       |   |               | (48,980 | )      |                                                         |   | (11,316 | ) |   |   | (604,076 | ) |
|                                                                        |   |               |    |   |                                                         |   |   |   |   |   |   |   |
| Cash Flows from Financing Activities                                        |   |               |    |   |                                                         |   |   |   |   |   |   |   |
| Increase (decrease) in bank indebtedness                                    |   |               | -       |   |                                                         |   | - |   |   |   | - |   |
| Proceeds from issuance of common stock                                      |   |               | -       |   |                                                         |   | - |   |   |   | 1,005,629 |   |
| Proceeds from (repayment of) notes payable                                  |   |               | -       |   |                                                         |   | - |   |   |   | 89,300 |   |
| Advances payable                                                            |   |               | -       |   |                                                         |   | 13,060 |   |   |   | 108,346 |   |
| Advances from related parties                                               |   |               | 500     |   |                                                         |   | (2,020 | ) |   |   | 35,621 |   |
| Net cash provided by financing activities                                   |   |               | 500     |   |                                                         |   | 11,040 |   |   |   | 1,238,896 |   |
|                                                                        |   |               |    |   |                                                         |   |   |   |   |   |   |   |
| Cash Flows from Investing Activities                                        |   |               |    |   |                                                         |   |   |   |   |   |   |   |
| Oil and gas properties                                                      |   |               | (4,080  | )      |                                                         |   | - |   |   |   | (254,080 | ) |
| Investment in EHHO                                                          |   |               | -       |   |                                                         |   | - |   |   |   | (375,000 | ) |
| Net cash used in investing activities                                       |   |               | (4,080  | )      |                                                         |   | - |   |   |   | (629,080 | ) |
|                                                                        |   |               |    |   |                                                         |   |   |   |   |   |   |   |
| Net Increase (Decrease) in Cash                                             |   |               | (52,560 | )      |                                                         |   | (276 | ) |   |   | 5,740 |   |
|                                                                        |   |               |    |   |                                                         |   |   |   |   |   |   |   |
| Cash, Beginning                                                             |   |               | 58,300  |   |                                                         |   | 1,193 |   |   |   | - |   |
|                                                                        |   |               |    |   |                                                         |   |   |   |   |   |   |   |
| Cash, Ending                                                                |   | $                  | 5,740   |   |                                                         | $      | 917 |   |   | $ | 5,740 |   |
|                                                                        |   |               |    |   |                                                         |   |   |   |   |   |   |   |
| Continued...                                                            |   |               |    |   |                                                         |   |   |   |   |   |   |   |

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|                                                                                              |   |               |   |   | CUMULATIVE RESULTS OF OPERATIONSFROM APRIL 9,1999(INCEPTION) |   |
|---------------------------------------------------------------------------------------------------|--------|--------------------|--------|--------|--------------------------------------------------------------|--------|
|                                                                                              |   | THREE MONTHS ENDED |   |   | TO                                                           |   |
|                                                                                              |   | OCTOBER 31,        |   |   | OCTOBER 31,                                                  |   |
|                                                                                              |   | 2010               |   |   | 2009                                                         |   |   | 2010 |   |
|                                                                                              |   |               |   |   |                                                         |   |   |   |   |
| Supplemental Disclosures of Cash Flow Information and Non-Cash Investing and Financing Activities |   |               |   |   |                                                         |   |   |   |   |
|                                                                                              |   |               |   |   |                                                         |   |   |   |   |
| Cash paid for:                                                                                    |   |               |   |   |                                                         |   |   |   |   |
| Interest                                                                                          |   | $                  | -      |   |                                                         | $      | - |   |   | $ | 110 |   |
| Income taxes                                                                                      |   | $                  | -      |   |                                                         | $      | - |   |   | $ | - |   |
|                                                                                              |   |               |   |   |                                                         |   |   |   |   |   |   |   |
| Common shares issued on settlement of notes payable and accrued interest                          |   | $                  | -      |   |                                                         | $      | - |   |   | $ | 102,573 |   |
|                                                                                              |   |               |   |   |                                                         |   |   |   |   |   |   |   |
| Common shares issued on acquisition of EHHO and FBHO                                              |   | $                  | -      |   |                                                         | $      | - |   |   | $ | 240,000 |   |
|                                                                                              |   |               |   |   |                                                         |   |   |   |   |   |   |   |
| Future income tax liability on property acquisition                                               |   | $                  | -      |   |                                                         | $      | - |   |   | $ | 30,000 |   |

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| 1. | NATURE OF CONTINUED OPERATIONS AND BASIS OF PRESENTATION |
|----|----------------------------------------------------------|

| 2. | SIGNIFICANT ACCOUNTING POLICY |
|----|-------------------------------|

|   | Basis of Consolidation |
|--------|------------------------|

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| 3. | RECENT ACCOUNTING PRONOUNCEMENTS |
|----|----------------------------------|

| 4. | AQUISITION |
|----|------------|

| 5. | INVESTMENT IN EHHO |
|----|--------------------|

|                                                      |   | OCTOBER 31, |     |   | JULY 31, |   |
|-----------------------------------------------------------|--------|-------------|----------|--------|----------|--------|
| Investment in EHHO                                        |   | 2010        |     |   | 2010     |   |
|                                                      |   |        |     |   |     |   |
| 90,000 units of ownership capital                         |   | $           | 392,000  |   |     | $      | 392,000 |   |
| Capital contribution                                      |   |        | 375,000  |   |     |   | 375,000 |   |
| Non-cash loss on dilution of the Company’s interest |   |        | (196,000 | )      |     |   | (196,000 | ) |
|                                                      |   |        | 571,000  |   |     |   | 571,000 |   |
| Share of loss of significantly influenced investee        |   |        | (29,754  | )      |     |   | (29,142 | ) |
|                                                      |   |        |     |   |     |   |   |   |
| Investment in EHHO, end of period                         |   | $           | 541,246  |   |     | $      | 541,858 |   |

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| 6. | OIL AND GAS PROPERTIES |
|----|------------------------|

|                |   | OCTOBER 31, |    |   | JULY 31, |   |
|---------------------|--------|-------------|---------|--------|----------|--------|
|                |   | 2010        |    |   | 2010     |   |
|                |   |        |    |   |     |   |
| Unproved properties |   |        |    |   |     |   |
| Acquisition costs   |   | $           | 128,000 |   |     | $      | 128,000 |   |
| Annual lease costs  |   |        | 4,080   |   |     | $      | - |   |
|                |   |        |    |   |     |   |   |   |
|                |   | $           | 132,080 |   |     | $      | 128,000 |   |

|   | Park County, Wyoming |
|--------|----------------------|

| 7. | ADVANCES PAYABLE |
|----|------------------|

| 8. | RELATED PARTY TRANSACTIONS |
|----|----------------------------|

|                                                                                                           |   | OCTOBER 31, |   |   | JULY 31, |   |
|----------------------------------------------------------------------------------------------------------------|--------|-------------|--------|--------|----------|--------|
|                                                                                                           |   | 2010        |   |   | 2010     |   |
|                                                                                                           |   |        |   |   |     |   |
| i)      Amounts receivable                                                            |   |        |   |   |     |   |
|                                                                                                           |   |        |   |   |     |   |
| Management fees due from EHHO                                                                                  |   | $           | 15,000 |   |     | $      | - |   |
|                                                                                                           |   |        |   |   |     |   |   |   |
| ii)     Prepaid expenses                                                                   |   |        |   |   |     |   |   |   |
|                                                                                                           |   |        |   |   |     |   |   |   |
| Amount advanced to a director for travel expenses                                                              |   | $           | -      |   |     | $      | 4,000 |   |
|                                                                                                           |   |        |   |   |     |   |   |   |
| iii)    Due to Directors                                                                        |   |        |   |   |     |   |   |   |
|                                                                                                           |   |        |   |   |     |   |   |   |
| Amounts payable for reimbursement of corporate expenses                                                        |   | $           | 1,706  |   |     | $      | 1,206 |   |
|                                                                                                           |   |        |   |   |     |   |   |   |
| iv)    Note Payable                                                                             |   |        |   |   |     |   |   |   |
|                                                                                                           |   |        |   |   |     |   |   |   |
| Note payable (Cdn $35,000) including accrued interest to Director, unsecured bearing interest at 6% per annum. |   |        | 35,104 |   |     |   | 33,915 |   |
|                                                                                                           |   | $           | 36,810 |   |     | $      | 35,121 |   |

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| 8. | RELATED PARTY TRANSACTIONS (Continued) |
|----|----------------------------------------|

|                                                       |   | THREE MONTHS ENDED |   |
|------------------------------------------------------------|--------|--------------------|--------|
|                                                       |   | OCTOBER 31         |   |
|                                                       |   | 2010               |   |   | 2009 |   |
| Interest paid                                              |   |               |   |   |   |   |
|                                                       |   |               |   |   |   |   |
| Interest accrued to a Director pursuant to promissory note |   | $                  | 542    |   |   | $ | - |   |
|                                                       |   |               |   |   |   |   |   |   |
| Management Fees                                            |   |               |   |   |   |   |   |   |
|                                                       |   |               |   |   |   |   |   |   |
| Charged to EHHO                                            |   | $                  | 15,000 |   |   |   | - |   |
|                                                       |   |               |   |   |   |   |   |   |
| Fees paid to three Directors for services rendered         |   | $                  | 21,233 |   |   | $ | - |   |

| 9. | NOTES PAYABLE |
|----|---------------|

| 10. | CAPITAL STOCK |
|-----|---------------|

| 11. | SUBSEQUENT EVENT |
|-----|------------------|

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|                                                                                                           |   | OCTOBER 31, |   |   | JULY 31, |   |
|----------------------------------------------------------------------------------------------------------------|--------|-------------|--------|--------|----------|--------|
|                                                                                                           |   | 2010        |   |   | 2010     |   |
|                                                                                                           |   |        |   |   |     |   |
| i)     Amounts receivable                                                                  |   |        |   |   |     |   |
|                                                                                                           |   |        |   |   |     |   |
| Management fees due from EHHO                                                                                  |   | $           | 15,000 |   |     | $      | - |   |
|                                                                                                           |   |        |   |   |     |   |   |   |
| ii)     Prepaid expenses                                                                   |   |        |   |   |     |   |   |   |
|                                                                                                           |   |        |   |   |     |   |   |   |
| Amount advanced to a director for travel expenses                                                              |   | $           | -      |   |     | $      | 4,000 |   |
|                                                                                                           |   |        |   |   |     |   |   |   |
| iii)    Due to Directors                                                                        |   |        |   |   |     |   |   |   |
|                                                                                                           |   |        |   |   |     |   |   |   |
| Amounts payable for reimbursement of corporate expenses                                                        |   | $           | 1,706  |   |     | $      | 1,206 |   |
|                                                                                                           |   |        |   |   |     |   |   |   |
| iv)   Note Payable                                                                                   |   |        |   |   |     |   |   |   |
|                                                                                                           |   |        |   |   |     |   |   |   |
| Note payable (Cdn $35,000) including accrued interest to Director, unsecured bearing interest at 6% per annum. |   |        | 35,104 |   |     |   | 33,915 |   |
|                                                                                                           |   | $           | 36,810 |   |     | $      | 35,121 |   |

|                                                       |   | THREE MONTHS ENDED |   |
|------------------------------------------------------------|--------|--------------------|--------|
|                                                       |   | OCTOBER 31         |   |
|                                                       |   | 2010               |   |   | 2009 |   |
|                                                       |   |               |   |   |   |   |
| Interest paid                                              |   |               |   |   |   |   |
| Interest accrued to a Director pursuant to promissory note |   | $                  | 542    |   |   | $ | - |   |
|                                                       |   |               |   |   |   |   |   |   |
| Management Fee Income                                      |   |               |   |   |   |   |   |   |
| Charged to EHHO for services rendered                      |   | $                  | 15,000 |   |   | $ | - |   |
|                                                       |   |               |   |   |   |   |   |   |
| Management Fee Expense                                     |   |               |   |   |   |   |   |   |
| Fees paid to three Directors for services rendered         |   | $                  | 21,233 |   |   | $ | - |   |

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al

Controls and 

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– OTHER 

ga

   Risk 

of Equity 

aul

her

 6.   

| 31.1   | Certification of Ray Jefferd, Chief Executive Officer of Stellar Resources Ltd. pursuant to Section 302 of the Sarbanes-Oxley Act of 2002   |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                        |
| 31.2   | Certification of Luigi Rispoli, Chief Financial Officer of Stellar Resources Ltd. pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 |
|   |                                                                                                                                        |
| 32.1   | Certification of Ray Jefferd, Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002                             |
|   |                                                                                                                                        |
| 32.2   | Certification of Luigi Rispoli, Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002                           |

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NA

|   | By:    | /s/ Ray Jefferd                  |   |
|--------|--------|---------------------------------------|--------|
|   |   | Ray Jefferd                           |   |
|   |   | President and Chief Executive Officer |   |
|   |   |                                  |   |
|   |   |                                  |   |
|   | By:    | /s/ Luigi Rispoli                     |   |
|   |   | Luigi Rispoli                         |   |
|   |   | Director and Chief Financial Officer  |   |
|   |   |                                  |   |
|   |   |                                  |   |
|   | By:    | /s/ Michael Rezac                     |   |
|   |   | Michael Rezac                         |   |
|   |   | Director                              |   |

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