|                  FINANCIAL                  STATEMENTS ANDREPORT                  OF INDEPENDENT CERTIFIEDPUBLIC                  ACCOUNTANTS**INDECK                  MAINE ENERGY, LLC**December                  31, 2005, 2004 and 2003(As                  Restated) |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|

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**C      O N T E N T S**

|                                                                                             |   | Page   |                                     |
|--------------------------------------------------------------------------------------------------|--------|--------|------------------------------------------|
|                                                                                             |   |   |                                     |
| Report                  of Independent Certified Public                  Accountants             |   |   | 3                                        |   |
|                                                                                             |   |   |                                     |   |
|                                                                                             |   |   |                                     |   |
| Financial                  Statements                                                            |   |   |                                     |   |
|                                                                                             |   |   |                                     |   |
| Balance                  Sheets                                                                  |   |   | 4                                        |   |
|                                                                                             |   |   |                                     |   |
| Statements                  of Operations and Changes in Members’                  Deficit |   |   | 5                                        |   |
|                                                                                             |   |   |                                     |   |
| Statements                  of Cash Flows                                                        |   |   | 6                                        |   |
|                                                                                             |   |   |                                     |   |
| Notes                  to Financial Statements                                                   |   |   | 7                  -                  24 |   |

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Table          of Contents

**REPORT      OF INDEPENDENT CERTIFIED PUBLIC      ACCOUNTANTS**

**Indeck      Maine Energy, LLC**

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Table          of Contents

Indeck      Maine Energy, LLC

**BALANCE      SHEETS**

|                                                          |   | **2005**       |           |   | 2004       |   |        | 2003       |   |
|---------------------------------------------------------------|--------|----------------|----------------|--------|------------|--------|-------------|------------|--------|
| ASSETS                                                        |   | **(Restated)** |           |   | (Restated) |   |        | (Restated) |   |
|                                                          |   |           |           |   |       |   |        |       |   |
| Current                  assets                               |   |           |           |   |       |   |        |       |   |
| Cash                  and cash equivalents                    |   | **$**          | **3,714,337**  |   |       | $      | 2,543,188   |       |   | $ | 195,210 |   |
| Restricted                  cash                              |   | ** **     | **-**          |   |       |   | 1,777,492   |       |   |   | - |   |
| Trade                  receivables                            |   | ** **     | **5,473,149**  |   |       |   | 2,553,154   |       |   |   | 248,480 |   |
| Due                  from affiliates                          |   | ** **     | **-**          |   |       |   | -           |       |   |   | 368,292 |   |
| Inventory                                                     |   | ** **     | **1,752,788**  |   |       |   | 330,754     |       |   |   | 60,059 |   |
| Prepaid                  expenses                             |   | ** **     | **43,086**     |   |       |   | 86,835      |       |   |   | 12,896 |   |
|                                                          |   |           |           |   |       |   |        |       |   |   |   |   |
| Total                  current assets                         |   | ** **     | **10,983,360** |   |       |   | 7,291,423   |       |   |   | 884,937 |   |
|                                                          |   |           |           |   |       |   |        |       |   |   |   |   |
| Property,                  plant and equipment, net           |   | ** **     | **6,576,800**  |   |       |   | 3,808,674   |       |   |   | 3,376,088 |   |
|                                                          |   |           |           |   |       |   |        |       |   |   |   |   |
| Security                  deposits                            |   | ** **     | **2,559,395**  |   |       |   | 1,850,000   |       |   |   | 160,000 |   |
| Other                  assets                                 |   | ** **     | **193,039**    |   |       |   | 267,764     |       |   |   | - |   |
|                                                          |   |           |           |   |       |   |        |       |   |   |   |   |
| Total                  assets                                 |   | **$**          | **20,312,594** |   |       | $      | 13,217,861  |       |   | $ | 4,421,025 |   |
|                                                          |   |           |           |   |       |   |        |       |   |   |   |   |
|                                                          |   |           |           |   |       |   |        |       |   |   |   |   |
| LIABILITIES                  AND MEMBERS’ DEFICIT       |   |           |           |   |       |   |        |       |   |   |   |   |
|                                                          |   |           |           |   |       |   |        |       |   |   |   |   |
| Current                  liabilities                          |   |           |           |   |       |   |        |       |   |   |   |   |
| Accounts                  payable and accrued expenses        |   | **$**          | **705,638**    |   |       | $      | 513,695     |       |   | $ | 590,286 |   |
| Due                  to affiliates                            |   | ** **     | **1,502,463**  |   |       |   | 2,178,090   |       |   |   | 1,133,897 |   |
| Management                  fees payable                      |   | ** **     | **700,000**    |   |       |   | 600,000     |       |   |   | 500,000 |   |
| Term                  loan payable - current portion          |   | ** **     | **1,100,000**  |   |       |   | 1,200,000   |       |   |   | - |   |
| Note                  payable - current portion               |   | ** **     | **45,343**     |   |       |   | -           |       |   |   | - |   |
|                                                          |   |           |           |   |       |   |        |       |   |   |   |   |
| Total                  current liabilities                    |   | ** **     | **4,053,444**  |   |       |   | 4,491,785   |       |   |   | 2,224,183 |   |
|                                                          |   |           |           |   |       |   |        |       |   |   |   |   |
| Term                  loan payable - long-term portion        |   | ** **     | **1,822,508**  |   |       |   | 4,800,000   |       |   |   | - |   |
| Note                  payable - long-term portion             |   | ** **     | **213,296**    |   |       |   | -           |       |   |   | - |   |
| Notes                  payable to members                     |   | ** **     | **16,301,000** |   |       |   | 12,301,000  |       |   |   | 8,301,000 |   |
| Interest                  payable to members                  |   | ** **     | **3,402,852**  |   |       |   | 2,047,934   |       |   |   | 1,364,938 |   |
|                                                          |   |           |           |   |       |   |        |       |   |   |   |   |
| Total                  liabilities                            |   | ** **     | **25,793,100** |   |       |   | 23,640,719  |       |   |   | 11,890,121 |   |
|                                                          |   |           |           |   |       |   |        |       |   |   |   |   |
| Commitments                  and contingencies                |   |           |           |   |       |   |        |       |   |   |   |   |
|                                                          |   |           |           |   |       |   |        |       |   |   |   |   |
| Total                  members’ deficit                 |   | ** **     | **(5,480,506** | **)**  |       |   | (10,422,858 | )          |   |   | (7,469,096 | ) |
|                                                          |   |           |           |   |       |   |        |       |   |   |   |   |
| Total                  liabilities and members’ deficit |   | **$**          | **20,312,594** |   |       | $      | 13,217,861  |       |   | $ | 4,421,025 |   |

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

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Table          of Contents

Indeck      Maine Energy, LLC

**STATEMENTS      OF OPERATIONS AND**

**CHANGES      IN MEMBERS’ DEFICIT**

|                                               |   | **2005**       |            |   | 2004       |   |        | 2003       |   |
|----------------------------------------------------|--------|----------------|-----------------|--------|------------|--------|-------------|------------|--------|
|                                               |   | **(Restated)** |            |   | (Restated) |   |        | (Restated) |   |
|                                               |   |           |            |   |       |   |        |       |   |
| Power                generation revenue            |   | **$**          | **21,535,382**  |   |       | $      | 8,604,403   |       |   | $ | 5,092,698 |   |
| Renewable                attribute revenue         |   | ** **     | **12,283,077**  |   |       |   | 6,179,386   |       |   |   | 4,500,337 |   |
|                                               |   |           |            |   |       |   |        |       |   |   |   |   |
| Total                revenues                      |   | ** **     | **33,818,459**  |   |       |   | 14,783,789  |       |   |   | 9,593,035 |   |
|                                               |   |           |            |   |       |   |        |       |   |   |   |   |
| Cost                of revenues                    |   | ** **     | **26,870,078**  |   |       |   | 16,541,728  |       |   |   | 10,328,889 |   |
|                                               |   |           |            |   |       |   |        |       |   |   |   |   |
| Gross                profit (loss)                 |   | ** **     | **6,948,381**   |   |       |   | (1,757,939  | )          |   |   | (735,854 | ) |
|                                               |   |           |            |   |       |   |        |       |   |   |   |   |
| General                and administrative expenses |   | ** **     | **543,636**     |   |       |   | 393,540     |       |   |   | 272,152 |   |
|                                               |   |           |            |   |       |   |        |       |   |   |   |   |
| Income                (loss) from operations       |   | ** **     | **6,404,745**   |   |       |   | (2,151,479  | )          |   |   | (1,008,006 | ) |
|                                               |   |           |            |   |       |   |        |       |   |   |   |   |
| Other                (expense) income              |   |           |            |   |       |   |        |       |   |   |   |   |
| Interest                income                     |   | ** **     | **87,215**      |   |       |   | 9,338       |       |   |   | 1,037 |   |
| Interest                expense                    |   | ** **     | **(1,549,608**  | **)**  |       |   | (811,621    | )          |   |   | (415,052 | ) |
|                                               |   |           |            |   |       |   |        |       |   |   |   |   |
| Other                expense, net                  |   | ** **     | **(1,462,393**  | **)**  |       |   | (802,283    | )          |   |   | (414,015 | ) |
|                                               |   |           |            |   |       |   |        |       |   |   |   |   |
| Net                income (loss)                   |   | ** **     | **4,942,352**   |   |       |   | (2,953,762  | )          |   |   | (1,422,021 | ) |
|                                               |   |           |            |   |       |   |        |       |   |   |   |   |
| Members’                deficit, beginning   |   | ** **     | **(10,422,858** | **)**  |       |   | (7,469,096  | )          |   |   | (6,047,075 | ) |
|                                               |   |           |            |   |       |   |        |       |   |   |   |   |
| Members’                deficit, ending      |   | **$**          | **(5,480,506**  | **)**  |       | $      | (10,422,858 | )          |   | $ | (7,469,096 | ) |

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

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Table          of Contents

Indeck      Maine Energy, LLC

**STATEMENTS      OF CASH FLOWS**

|                                                                                  |   | **2005**       |           |   | 2004       |   |       | 2003       |   |
|---------------------------------------------------------------------------------------|--------|----------------|----------------|--------|------------|--------|------------|------------|--------|
|                                                                                  |   | **(Restated)** |           |   | (Restated) |   |       | (Restated) |   |
|                                                                                  |   |           |           |   |       |   |       |       |   |
| Cash                flows from operating activities                                   |   |           |           |   |       |   |       |       |   |
| Net                income (loss)                                                      |   | **$**          | **4,942,352**  |   |       | $      | (2,953,762 | )          |   | $ | (1,422,021 | ) |
| Adjustments                to reconcile net income (loss) to net cash                 |   |           |           |   |       |   |       |       |   |   |   |   |
| provided                by (used in) operating activities                             |   |           |           |   |       |   |       |       |   |   |   |   |
| Depreciation                and amortization                                          |   | ** **     | **324,536**    |   |       |   | 260,449    |       |   |   | 245,428 |   |
| Noncash                interest payable to members                                    |   | ** **     | **1,354,918**  |   |       |   | 682,996    |       |   |   | 415,052 |   |
| Changes                in operating assets and liabilities                            |   |           |           |   |       |   |       |       |   |   |   |   |
| Restricted                cash                                                        |   | ** **     | **-**          |   |       |   | (2,492     | )          |   |   | - |   |
| Trade                receivables                                                      |   | ** **     | **(2,919,995** | **)**  |       |   | (2,304,674 | )          |   |   | 240,062 |   |
| Inventory                                                                             |   | ** **     | **(1,422,034** | **)**  |       |   | (270,695   | )          |   |   | 564,888 |   |
| Prepaid                expenses                                                       |   | ** **     | **43,749**     |   |       |   | (73,939    | )          |   |   | 15,685 |   |
| Security                deposits                                                      |   | ** **     | **(709,395**   | **)**  |       |   | (1,690,000 | )          |   |   | (160,000 | ) |
| Other                assets                                                           |   | ** **     | **74,725**     |   |       |   | (267,764   | )          |   |   | - |   |
| Accounts                payable and accrued expenses                                  |   | ** **     | **191,943**    |   |       |   | (76,591    | )          |   |   | 227,696 |   |
| Due                to/from affiliates, net                                            |   | ** **     | **(675,627**   | **)**  |       |   | 1,412,485  |       |   |   | (1,079,386 | ) |
| Management                fees payable                                                |   | ** **     | **100,000**    |   |       |   | 100,000    |       |   |   | 100,000 |   |
|                                                                                  |   |           |           |   |       |   |       |       |   |   |   |   |
| Total                adjustments                                                      |   | ** **     | **(3,637,180** | **)**  |       |   | (2,230,225 | )          |   |   | 569,425 |   |
|                                                                                  |   |           |           |   |       |   |       |       |   |   |   |   |
| Net                cash provided by (used in) operating activities                    |   | ** **     | **1,305,172**  |   |       |   | (5,183,987 | )          |   |   | (852,596 | ) |
|                                                                                  |   |           |           |   |       |   |       |       |   |   |   |   |
| Cash                flows from investing activities                                   |   |           |           |   |       |   |       |       |   |   |   |   |
| Capital                expenditures                                                   |   | ** **     | **(2,834,023** | **)**  |       |   | (693,035   | )          |   |   | (158,464 | ) |
|                                                                                  |   |           |           |   |       |   |       |       |   |   |   |   |
| Net                cash used in investing activities                                  |   | ** **     | **(2,834,023** | **)**  |       |   | (693,035   | )          |   |   | (158,464 | ) |
|                                                                                  |   |           |           |   |       |   |       |       |   |   |   |   |
| Cash                flows from financing activities                                   |   |           |           |   |       |   |       |       |   |   |   |   |
| Proceeds                from notes payable to members                                 |   | ** **     | **4,000,000**  |   |       |   | 4,000,000  |       |   |   | 1,200,000 |   |
| Repayment                of term loan payable, net of restricted cash                 |   |           |           |   |       |   |       |       |   |   |   |   |
| applied                of $1,777,492                                                  |   | ** **     | **(1,300,000** | **)**  |       |   | -          |       |   |   | - |   |
| Proceeds                from term loan, net of restricted cash of $1,775,000          |   | ** **     | **-**          |   |       |   | 4,225,000  |       |   |   | - |   |
|                                                                                  |   |           |           |   |       |   |       |       |   |   |   |   |
| Net                cash provided by financing activities                              |   | ** **     | **2,700,000**  |   |       |   | 8,225,000  |       |   |   | 1,200,000 |   |
|                                                                                  |   |           |           |   |       |   |       |       |   |   |   |   |
| Net                increase in cash and cash equivalents                              |   | ** **     | **1,171,149**  |   |       |   | 2,347,978  |       |   |   | 188,940 |   |
|                                                                                  |   |           |           |   |       |   |       |       |   |   |   |   |
| Cash                and cash equivalents, beginning of year                           |   | ** **     | **2,543,188**  |   |       |   | 195,210    |       |   |   | 6,270 |   |
|                                                                                  |   |           |           |   |       |   |       |       |   |   |   |   |
| Cash                and cash equivalents, end of year                                 |   | **$**          | **3,714,337**  |   |       | $      | 2,543,188  |       |   | $ | 195,210 |   |
|                                                                                  |   |           |           |   |       |   |       |       |   |   |   |   |
| Supplemental                disclosure of cash flow information:                      |   |           |           |   |       |   |       |       |   |   |   |   |
| Cash                paid during the year for                                          |   |           |           |   |       |   |       |       |   |   |   |   |
| Interest                                                                              |   | **$**          | **267,856**    |   |       | $      | 110,883    |       |   | $ | - |   |
|                                                                                  |   |           |           |   |       |   |       |       |   |   |   |   |
| Supplemental                disclosure of noncash investing and financing activities: |   |           |           |   |       |   |       |       |   |   |   |   |
| Equipment                acquired under finance agreement                             |   | **$**          | **258,639**    |   |       | $      | -          |       |   | $ | - |   |

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

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Table          of Contents

Indeck      Maine Energy, LLC

**NOTES      TO FINANCIAL STATEMENTS**

**NOTE      A - DESCRIPTION OF BUSINESS**

*1.    Allocation      of Profits and Losses*

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Table          of Contents

**NOTES      TO FINANCIAL STATEMENTS (continued)**

**NOTE      A (continued)**

*2.    Distributions      of Net Cash Flow From Operations*

*3.    Distributions      of Net Cash Flow From Capital Events*

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Table          of Contents

**NOTES      TO FINANCIAL STATEMENTS (continued)**

**NOTE      B - RESTATEMENT OF FINANCIAL STATEMENTS**

|                                                          |   | December                  31, 2005 |       |
|---------------------------------------------------------------|--------|------------------------------------|------------|
|                                                          |   | Previously                         |       |   |   |   |   |   |   |   |
| Balance                  Sheet                                |   | reported                           |       |   | Adjustments |   |   |   | Restated |   |
| ASSETS                                                        |   |                               |       |   |   |   |   |   |   |   |
|                                                          |   |                               |       |   |   |   |   |   |   |   |
| Current                  assets                               |   | $                                  | 10,961,247 |   |   | $ | 22,113 |   | (A) |   | $ | 10,983,360 |   |
|                                                          |   |                               |       |   |   |   |   |   |   |   |   |   |   |
| Noncurrent                  assets                            |   |                               | 9,349,839  |   |   |   | (20,605 | ) | (B) |   |   | 9,329,234 |   |
|                                                          |   |                               |       |   |   |   |   |   |   |   |   |   |   |
| Total                  assets                                 |   | $                                  | 20,311,086 |   |   | $ | 1,508 |   |   |   | $ | 20,312,594 |   |
|                                                          |   |                               |       |   |   |   |   |   |   |   |   |   |   |
|                                                          |   |                               |       |   |   |   |   |   |   |   |   |   |   |
| LIABILITIES                  AND MEMBERS’ DEFICIT       |   |                               |       |   |   |   |   |   |   |   |   |   |   |
|                                                          |   |                               |       |   |   |   |   |   |   |   |   |   |   |
| Current                  liabilities                          |   | $                                  | 4,020,301  |   |   | $ | 33,143 |   | (C)                  (D) (I) |   | $ | 4,053,444 |   |
|                                                          |   |                               |       |   |   |   |   |   |   |   |   |   |   |
| Noncurrent                  liabilities                       |   |                               | 21,739,656 |   |   |   | - |   |   |   |   | 21,739,656 |   |
|                                                          |   |                               |       |   |   |   |   |   |   |   |   |   |   |
| Members’                  deficit                       |   |                               | (5,448,871 | ) |   |   | (31,635 | ) |  (A)                  (B) (C) (D) (I) |   |   | (5,480,506 | ) |
|                                                          |   |                               |       |   |   |   |   |   |   |   |   |   |   |
| Total                  liabilities and members’ deficit |   | $                                  | 20,311,086 |   |   | $ | 1,508 |   |   |   | $ | 20,312,594 |   |

|                                               |   | Year                ended December 31, 2005 |       |
|----------------------------------------------------|--------|---------------------------------------------|------------|
|                                               |   | Previously                                  |       |   |   |   |   |   |   |   |
| Statement                of Operations             |   | reported                                    |       |   | Adjustments |   |   |   | Restated |   |
|                                               |   |                                        |       |   |   |   |   |   |   |   |
| Revenues                                           |   | $                                           | 33,881,459 |   |   | $ | (63,000 | ) |  (G)              (I) |   | $ | 33,818,459 |   |
| Cost                of revenues                    |   |                                        | 26,972,287 |   |   |   | (102,209 | ) |  (B)              (D) (E) (F) |   |   | 26,870,078 |   |
|                                               |   |                                        |       |   |   |   |   |   |   |   |   |   |   |
| Gross                profit                        |   |                                        | 6,909,172  |   |   |   | 39,209 |   |   |   |   | 6,948,381 |   |
|                                               |   |                                        |       |   |   |   |   |   |   |   |   |   |   |
| General                and administrative expenses |   |                                        | 610,383    |   |   |   | (66,747 | ) |  (C)              (E) |   |   | 543,636 |   |
|                                               |   |                                        |       |   |   |   |   |   |   |   |   |   |   |
| Income                from operations              |   |                                        | 6,298,789  |   |   |   | 105,956 |   |   |   |   | 6,404,745 |   |
|                                               |   |                                        |       |   |   |   |   |   |   |   |   |   |   |
| Other                (expense) income, net         |   |                                        | (1,469,873 | ) |   |   | 7,480 |   |  (A)              (H) |   |   | (1,462,393 | ) |
|                                               |   |                                        |       |   |   |   |   |   |   |   |   |   |   |
| Net                income                          |   | $                                           | 4,828,916  |   |   | $ | 113,436 |   |   |   | $ | 4,942,352 |   |
|                                               |   |                                        |       |   |   |   |   |   |   |   |   |   |   |

|   | (A)   | The                Company did not recognize interest receivable of $22,113 for the                fourth                quarter of 2005.  This resulted in an increase in other income                and trade receivables. |
|--------|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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Table          of Contents

**NOTES      TO FINANCIAL STATEMENTS (continued)**

**NOTE      B (continued)**

|   | (B)   | The                reimbursement of a security deposit relating to wood chips was not                originally recorded in 2005.  The adjustment resulted in a                decrease in security deposit and an increase in the cost of revenues                of                $20,605. |
|--------|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (C)   | The                Company overaccrued $51,222 and underaccrued $8,755 of accounting                fees for                the years ended December 31, 2005 and 2004, respectively.  The                2005 overaccrual of $51,222 was recorded as a reduction to accounts                payable and general and administrative expenses and the 2004 underaccrual                of $8,755 was recorded as an increase to the beginning members’                deficit. |
|--------|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (D)   | The                Company failed to record expenses of $5,610 pertaining to                2005.  The adjustment, therefore, resulted in an increase in                2005 accrued expenses and cost of                revenues. |
|--------|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (E)   | The                Company recorded expenses of $109,913 pertaining to 2004 in                2005.  The adjustment, therefore, resulted in an increase in                beginning members’ deficit of $109,913, cost of revenues by $94,328 and a                decrease in general and administrative expenses by                $15,585. |
|--------|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (F)   | The                decrease in cost of revenues is also due to the reversal of sales                and use                tax expense of $34,035 in 2005.  The Company made the adjustment                by recognizing the sales and use tax expense in the proper period                by                recording an accrual of $34,035 and $17,859 for the years ended December                31, 2004 and 2003, respectively, related to the purchase of certain                inventory items. |
|--------|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (G)   | The                Company originally recorded $7,000 as revenue in 2004 that was earned                in                2005. This was adjusted by increasing revenue in 2005 and decreasing                accounts receivable and revenue in                2004. |
|--------|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (H)   | The                Company incorrectly capitalized $14,633 to equipment and similarly                decreased interest expense.  This resulted in an adjustment of                $14,633 which was recorded as an increase in interest expense and                a                decrease in equipment. |
|--------|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (I)   | The                Company did not recognize a $70,000 liability to an affiliate in                conjunction with an agreement the Company and its affiliates have                with a                power marketer (see Note J).  This resulted in an increase in                due to affiliates and a decrease in renewable attribute                revenue. |
|--------|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

Table          of Contents

**NOTES      TO FINANCIAL STATEMENTS (continued)**

**NOTE      B (continued)**

|                                                        |   | December                31, 2004 |        |
|-------------------------------------------------------------|--------|----------------------------------|-------------|
|                                                        |   | Previously                       |        |   |   |   |   |   |   |   |
| Balance                Sheet                                |   | reported                         |        |   | Adjustments |   |   |   | Restated |   |
|                                                        |   |                             |        |   |   |   |   |   |   |   |
| ASSETS                                                      |   |                             |        |   |   |   |   |   |   |   |
|                                                        |   |                             |        |   |   |   |   |   |   |   |
| Current                assets                               |   | $                                | 5,520,931   |   |   | $ | 1,770,492 |   |  (A)              (I) |   | $ | 7,291,423 |   |
|                                                        |   |                             |        |   |   |   |   |   |   |   |   |   |   |
| Noncurrent                assets                            |   |                             | 7,689,297   |   |   |   | (1,762,859 | ) |  (B)              (I) |   |   | 5,926,438 |   |
|                                                        |   |                             |        |   |   |   |   |   |   |   |   |   |   |
| Total                assets                                 |   | $                                | 13,210,228  |   |   | $ | 7,633 |   |   |   | $ | 13,217,861 |   |
|                                                        |   |                             |        |   |   |   |   |   |   |   |   |   |   |
|                                                        |   |                             |        |   |   |   |   |   |   |   |   |   |   |
| LIABILITIES                AND MEMBERS’ DEFICIT       |   |                             |        |   |   |   |   |   |   |   |   |   |   |
|                                                        |   |                             |        |   |   |   |   |   |   |   |   |   |   |
| Current                liabilities                          |   | $                                | 4,339,081   |   |   | $ | 152,704 |   |  (C)              (D) (E) |   | $ | 4,491,785 |   |
|                                                        |   |                             |        |   |   |   |   |   |   |   |   |   |   |
| Noncurrent                liabilities                       |   |                             | 19,148,934  |   |   |   | - |   |   |   |   | 19,148,934 |   |
|                                                        |   |                             |        |   |   |   |   |   |   |   |   |   |   |
| Members’                deficit                       |   |                             | (10,277,787 | ) |   |   | (145,071 | ) |  (A)              (B) (C) (D) |   |   | (10,422,858 | ) |
|                                                        |   |                             |        |   |   |   |   |   |   |   |   |   |   |
| Total                liabilities and members’ deficit |   | $                                | 13,210,228  |   |   | $ | 7,633 |   |   |   | $ | 13,217,861 |   |
|                                                        |   |                             |        |   |   |   |   |   |   |   |   |   |   |
|                                                        |   |                             |        |   |   |   |   |   |   |   |   |   |   |

|                                               |   | Year                ended December 31, 2004 |       |
|----------------------------------------------------|--------|---------------------------------------------|------------|
|                                               |   | Previously                                  |       |   |   |   |   |   |   |   |
| Statement                of Operations             |   | reported                                    |       |   | Adjustments |   |   |   | Restated |   |
|                                               |   |                                        |       |   |   |   |   |   |   |   |
| Total                revenues                      |   | $                                           | 14,789,384 |   |   | $ | (5,595 | ) |  (A)              (H) |   | $ | 14,783,789 |   |
| Cost                of revenues                    |   |                                        | 16,657,402 |   |   |   | (115,674 | ) |  (C)              (E) (F) (G) (H) |   |   | 16,541,728 |   |
|                                               |   |                                        |       |   |   |   |   |   |   |   |   |   |   |
| Gross                (loss) profit                 |   |                                        | (1,868,018 | ) |   |   | 110,079 |   |   |   |   | (1,757,939 | ) |
|                                               |   |                                        |       |   |   |   |   |   |   |   |   |   |   |
| General                and administrative expenses |   |                                        | 379,754    |   |   |   | 13,786 |   |  (D)              (E) |   |   | 393,540 |   |
|                                               |   |                                        |       |   |   |   |   |   |   |   |   |   |   |
| (Loss)                income from operations       |   |                                        | (2,247,772 | ) |   |   | 96,293 |   |   |   |   | (2,151,479 | ) |
|                                               |   |                                        |       |   |   |   |   |   |   |   |   |   |   |
| Other                (expense) income, net         |   |                                        | (816,916   | ) |   |   | 14,633 |   |  (B) |   |   | (802,283 | ) |
|                                               |   |                                        |       |   |   |   |   |   |   |   |   |   |   |
| Net                (loss) income                   |   | $                                           | (3,064,688 | ) |   | $ | 110,926 |   |   |   | $ | (2,953,762 | ) |
|                                               |   |                                        |       |   |   |   |   |   |   |   |   |   |   |

|   | (A)   | The                Company originally recorded $7,000 as revenue in 2004 that was earned                in                2005. This was adjusted by reducing accounts receivable and revenue                in                2004. |
|--------|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (B)   | The                  Company originally expensed borrowing costs of $14,633 that should                  have                  been capitalized to equipment.  The adjustment decreased                  interest expense and increased the equipment                  balance. |
|--------|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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Table          of Contents

**NOTES      TO FINANCIAL STATEMENTS (continued)**

**NOTE      B (continued)**

|   | (C)   | The                Company did not accrue sales tax of $16,176 and $17,859 for the years                ended December 31, 2004 and 2003, respectively, which related to                the                purchase of certain inventory items.  The corresponding                adjustment, therefore, increased accrued expenses by $34,035, cost                of                revenues by $16,176 and beginning members’ deficit by                $17,859. |
|--------|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (D)   | The                Company overaccrued $1,800 and underaccrued $10,555 of accounting                fees for                the years ended December 31, 2004 and 2003 respectively.  The                2004 overaccrual was recorded as a decrease of $1,800 in accounts                payable                and general and administrative expenses.  The 2003 underaccrual                adjustment increased accounts payable and increased beginning members’                deficit by $10,555. |
|--------|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (E)   | The                Company recorded expenses of $109,913 pertaining to 2004 in                2005.  The adjustment, therefore, increased accrued expenses by                $109,913, cost of revenues by $94,328 and general and administrative                expenses by $15,585. |
|--------|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (F)   | Originally,                the Company had written off certain intangibles in 2004.  This                was adjusted and the Company wrote off the intangible balance, net                of                accumulated amortization during 2002.  In 2004, the Company                reversed the original write-off of intangibles by decreasing cost                of                revenues by $125,764. |
|--------|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (G)   | The                Company had recorded the purchase of inventory in 2004 by increasing                the                cost of revenues by $101,819, though the purchase of inventory occurred                in                2003.  The Company adjusted this by reducing cost of revenues in                2004. |
|--------|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (H)   | The                Company originally included $1,405 of revenue with cost of                revenues.  This amount was reclassified to power generation                revenue. |
|--------|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (I)   | The                    Company originally included $1,777,492 of restricted cash in                    noncurrent                    assets.  This amount was reclassified to current                    assets. |
|--------|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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Table          of Contents

**NOTES      TO FINANCIAL STATEMENTS (continued)**

**NOTE      B (continued)**

|                                                        |   | December                31, 2003 |       |
|-------------------------------------------------------------|--------|----------------------------------|------------|
|                                                        |   | Previously                       |       |   |   |   |   |   |   |   |
| Balance                Sheet                                |   | reported                         |       |   | Adjustments |   |   |   | Restated |   |
|                                                        |   |                             |       |   |   |   |   |   |   |   |
| ASSETS                                                      |   |                             |       |   |   |   |   |   |   |   |
|                                                        |   |                             |       |   |   |   |   |   |   |   |
| Current                assets                               |   | $                                | 884,937    |   |   |   |   |   |   | $ | 884,937 |   |
|                                                        |   |                             |       |   |   |   |   |   |   |   |   |   |
| Noncurrent                assets                            |   |                             | 3,661,852  |   |   | $ | (125,764 | ) |  (A) |   |   | 3,536,088 |   |
|                                                        |   |                             |       |   |   |   |   |   |   |   |   |   |   |
| Total                assets                                 |   | $                                | 4,546,789  |   |   | $ | (125,764 | ) |   |   | $ | 4,421,025 |   |
|                                                        |   |                             |       |   |   |   |   |   |   |   |   |   |   |
|                                                        |   |                             |       |   |   |   |   |   |   |   |   |   |   |
| LIABILITIES                AND MEMBERS’ DEFICIT       |   |                             |       |   |   |   |   |   |   |   |   |   |   |
|                                                        |   |                             |       |   |   |   |   |   |   |   |   |   |   |
| Current                liabilities                          |   | $                                | 2,093,950  |   |   | $ | 130,233 |   |  (B)              (D) (E) |   | $ | 2,224,183 |   |
|                                                        |   |                             |       |   |   |   |   |   |   |   |   |   |   |
| Noncurrent                liabilities                       |   |                             | 9,665,938  |   |   |   | - |   |   |   |   | 9,665,938 |   |
|                                                        |   |                             |       |   |   |   |   |   |   |   |   |   |   |
| Members’                deficit                       |   |                             | (7,213,099 | ) |   |   | (255,997 | ) |  (A)              (B) (C) (D) (E) |   |   | (7,469,096 | ) |
|                                                        |   |                             |       |   |   |   |   |   |   |   |   |   |   |
| Total                liabilities and members’ deficit |   | $                                | 4,546,789  |   |   | $ | (125,764 | ) |   |   | $ | 4,421,025 |   |

|                                               |   | Year                ended December 31, 2003 |       |
|----------------------------------------------------|--------|---------------------------------------------|------------|
|                                               |   | Previously                                  |       |   |   |   |   |   |   |   |
| Statement                of Operations             |   | reported                                    |       |   | Adjustments |   |   |   | Restated |   |
|                                               |   |                                        |       |   |   |   |   |   |   |   |
| Revenues                                           |   | $                                           | 9,593,035  |   |   |   |   |   |   | $ | 9,593,035 |   |
| Cost                of revenues                    |   |                                        | 10,332,348 |   |   | $ | (3,459 | ) |  (A)              (B) (C) (E) (F) |   |   | 10,328,889 |   |
|                                               |   |                                        |       |   |   |   |   |   |   |   |   |   |   |
| Gross                (loss) profit                 |   |                                        | (739,313   | ) |   |   | 3,459 |   |   |   |   | (735,854 | ) |
|                                               |   |                                        |       |   |   |   |   |   |   |   |   |   |   |
| General                and administrative expenses |   |                                        | 288,397    |   |   |   | (16,245 | ) |  (D)              (F) |   |   | 272,152 |   |
|                                               |   |                                        |       |   |   |   |   |   |   |   |   |   |   |
| (Loss)                income from operations       |   |                                        | (1,027,710 | ) |   |   | 19,704 |   |   |   |   | (1,008,006 | ) |
|                                               |   |                                        |       |   |   |   |   |   |   |   |   |   |   |
| Other                (expense) income, net         |   |                                        | (414,015   | ) |   |   | - |   |   |   |   | (414,015 | ) |
|                                               |   |                                        |       |   |   |   |   |   |   |   |   |   |   |
| Net                (loss) income                   |   | $                                           | (1,441,725 | ) |   | $ | 19,704 |   |   |   | $ | (1,422,021 | ) |
|                                               |   |                                        |       |   |   |   |   |   |   |   |   |   |   |

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Table          of Contents

**NOTES      TO FINANCIAL STATEMENTS (continued)**

|   | **NOTE                B (continued)** |
|--------|---------------------------------------|

| (A)   | Amounts                previously recognized as intangibles, net of accumulated amortization                were                overstated by $125,764 at December 31, 2003.  The corresponding                adjustments increased beginning members’ deficit and decreased cost of                revenues by $135,110 and $9,346, respectively, for the year ended                December                31, 2003. |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (B)   | The                Company recorded a purchase of inventory in 2004 though it occurred                in                2003.  As a result, such adjustments increased accounts payable                and increased cost of revenues by $101,819, for the year ended December                31, 2003.  In addition, it was determined that $68,786 of cost                of revenues, previously recognized in 2003, should have been recognized                in                2002.  This amount has been restated as a reduction of cost of                revenues and an increase to beginning members’                deficit. |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (C)   | The                Company originally recognized $31,406 of cost of revenues in 2003                that                should have been recognized in 2002.  This resulted in the                decrease of cost of revenues and an increase in beginning members’ deficit                by $31,406, respectively. |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (D)   | The                Company overaccrued $21,000 and underaccrued $31,555 of accounting                fees                for the years ended December 31, 2003 and 2002,                respectively.  An adjustment was recorded in 2003 to increase                accounts payable by $10,555, decrease general and administrative                expenses                by $21,000 and to increase beginning members’ deficit by                $31,555. |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (E)   | The                Company did not recognize accounts payable of $9,015 and $8,844 in                2003                and 2002, respectively, related to sales tax on inventory                purchases.  As a result, the corresponding adjustments increased                accrued expenses by $17,859, cost of revenues by $9,015 and increased                beginning members’ deficit by                $8,844. |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (F)   | Originally,                the Company included bank fees of $4,755 in cost of                revenues.  The Company recorded an entry to reclassify the bank                fees from cost of revenues to general and administrative                expenses. |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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Table          of Contents

**NOTES      TO FINANCIAL STATEMENTS (continued)**

**NOTE      C - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES**

*1.    Use      of Estimates*

*2.    Cash      and Cash Equivalents*

*3.    Trade      Receivables*

*4.    Revenue      Recognition*

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Table          of Contents

**NOTES      TO FINANCIAL STATEMENTS (continued)**

**NOTE      C (continued)**

*5.    Inventory*

*6.    Impairment      of Long-Lived Assets*

*7.    Property,      Plant and Equipment*

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Table          of Contents

**NOTES      TO FINANCIAL STATEMENTS (continued)**

**NOTE      C (continued)**

| Power                generation facilities | 20                years            |
|--------------------------------------------|------------------------------------|
| Equipment                                  |   5                years |

*8.    Significant      Customers*

*9.    Income      Taxes*

* 10.    Reclassification*

* 11.    New      Accounting Standards and Disclosures*

*FIN      45*

*Guarantor’s Accounting and Disclosure      Requirements for Guarantees, Including Indirect Guarantees and Indebtedness      of      Others*

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Table          of Contents

**NOTES      TO FINANCIAL STATEMENTS (continued)**

**NOTE      C (continued)**

*SFAS      No. 154*

*Accounting Changes and Error Corrections*
*Accounting Changes*
*Reporting Accounting Changes in Interim Financial      Statements*

**NOTE      D - PROPERTY, PLANT AND EQUIPMENT**

|                                         |   | **2005**   |           |   | 2004   |   |       | 2003   |   |
|----------------------------------------------|--------|------------|----------------|--------|--------|--------|------------|--------|--------|
|                                         |   |       |           |   |   |   |       |   |   |
| Land                                         |   | **$**      | **158,000**    |   |   | $      | 158,000    |   |   | $ | 158,000 |   |
| Power                generation facilities   |   | ** ** | **8,011,628**  |   |   |   | 4,604,517  |   |   |   | 4,384,809 |   |
| Equipment                                    |   | ** ** | **271,012**    |   |   |   | 180,948    |   |   |   | 112,134 |   |
| Construction                in-progress      |   | ** ** | **-**          |   |   |   | 404,513    |   |   |   | - |   |
|                                         |   |       |           |   |   |   |       |   |   |   |   |   |
|                                         |   | ** ** | **8,440,640**  |   |   |   | 5,347,978  |   |   |   | 4,654,943 |   |
|                                         |   |       |           |   |   |   |       |   |   |   |   |   |
| Less                accumulated depreciation |   | ** ** | **(1,863,840** | **)**  |   |   | (1,539,304 | )      |   |   | (1,278,855 | ) |
|                                         |   |       |           |   |   |   |       |   |   |   |   |   |
|                                         |   | **$**      | **6,576,800**  |   |   | $      | 3,808,674  |   |   | $ | 3,376,088 |   |

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Table          of Contents

**NOTES      TO FINANCIAL STATEMENTS (continued)**

**NOTE      E - LONG-TERM DEBT**

|                                   |   | Year                ended December 31, |           |
|----------------------------------------|--------|----------------------------------------|----------------|
|                                   |   | **2005**                               |           |   | 2004 |   |   | 2003 |   |
|                                   |   |                                   |           |   |   |   |   |   |   |
| Term                loan payable       |   | **$**                                  | **2,922,508**  |   |   | $ | 6,000,000 |   |   | $ | - |   |
| Less                current portion    |   | ** **                             | **(1,100,000** | **)** |   |   | (1,200,000 | ) |   |   | - |   |
|                                   |   |                                   |           |   |   |   |   |   |   |   |   |   |
| Total                long-term portion |   | **$**                                  | **1,822,508**  |   |   | $ | 4,800,000 |   |   | $ | - |   |

| Year                ended December 31, |   |   |      |
|----------------------------------------|--------|--------|-----------|
|                                   |   |   |      |
| 2006                                   |   | $      | 1,100,000 |   |
| 2007                                   |   |   | 1,200,000 |   |
| 2008                                   |   |   | 622,508   |   |
|                                   |   |   |      |   |
|                                   |   | $      | 2,922,508 |   |
|                                   |   |   |      |   |

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Table          of Contents

**NOTES      TO FINANCIAL STATEMENTS (continued)**

**NOTE      E (continued)**

|                                   |   | December                31, |    |
|----------------------------------------|--------|-----------------------------|---------|
|                                   |   | 2005                        |    |
|                                   |   |                        |    |
| Note                payable            |   | $                           | 258,639 |   |
| Less                current portion    |   |                        | (45,343 | ) |
|                                   |   |                        |    |   |
| Total                long-term portion |   | $                           | 213,296 |   |

| Year                ended December 31, |   |   |    |
|----------------------------------------|--------|--------|---------|
|                                   |   |   |    |
| 2006                                   |   | $      | 45,343  |   |
| 2007                                   |   |   | 48,332  |   |
| 2008                                   |   |   | 51,518  |   |
| 2009                                   |   |   | 54,913  |   |
| 2010                                   |   |   | 58,533  |   |
|                                   |   |   |    |   |
|                                   |   | $      | 258,639 |   |

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Table          of Contents

**NOTES      TO FINANCIAL STATEMENTS (continued)**

**NOTE      F - NOTES PAYABLE TO MEMBERS**

|                                                                |   | December                31, |           |
|---------------------------------------------------------------------|--------|-----------------------------|----------------|
|                                                                |   | **2005**                    |           |   | 2004 |   |   | 2003 |   |
|                                                                |   |                        |           |   |   |   |   |   |   |
| Note                payable to IES; interest at 5% per annum        |   | **$**                       | **4,150,500**  |   |   | $ | 4,150,500 |   |   | $ | 4,150,500 |   |
| Note                payable to IES; interest at 12% per annum       |   | ** **                  | **2,000,000**  |   |   |   | 2,000,000 |   |   |   | - |   |
| Note                payable to IES; interest at 18% per annum       |   | ** **                  | **2,000,000**  |   |   |   | - |   |   |   | - |   |
| Note                payable to Ridgewood; interest at 5% per annum  |   | ** **                  | **4,150,500**  |   |   |   | 4,150,500 |   |   |   | 4,150,500 |   |
| Note                payable to Ridgewood; interest at 12% per annum |   | ** **                  | **2,000,000**  |   |   |   | 2,000,000 |   |   |   | - |   |
| Note                payable to Ridgewood; interest at 18% per annum |   | ** **                  | **2,000,000**  |   |   |   | - |   |   |   | - |   |
|                                                                |   |                        |           |   |   |   |   |   |   |   |   |   |
|                                                                |   | **$**                       | **16,301,000** |   |   | $ | 12,301,000 |   |   | $ | 8,301,000 |   |

|      |   | December                31, |          |
|-----------|--------|-----------------------------|---------------|
|      |   | **2005**                    |          |   | 2004 |   |   | 2003 |   |
|      |   |                        |          |   |   |   |   |   |   |
| IES       |   | **$**                       | **1,701,426** |   |   | $ | 1,023,967 |   |   | $ | 682,469 |   |
| Ridgewood |   | ** **                  | **1,701,426** |   |   |   | 1,023,967 |   |   |   | 682,469 |   |
|      |   |                        |          |   |   |   |   |   |   |   |   |   |
|      |   | **$**                       | **3,402,852** |   |   | $ | 2,047,934 |   |   | $ | 1,364,938 |   |

**NOTE      G - RELATED PARTY TRANSACTIONS**

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Table          of Contents

**NOTES      TO FINANCIAL STATEMENTS (continued)**

**NOTE      G (continued)**

|                                             |   | December                31, |                                |         | December                31, |   |
|--------------------------------------------------|--------|-----------------------------|-------------------------------------|--------------|-----------------------------|--------|
|                                             |   | **2005**                    |                                |         | 2004                        |   |   | 2003 |   |   | **2005** |   |   | 2004 |   |   | 2003 |   |
|                                             |   |                        | Due                from   |    |                        |   |          | Due                to |   |   |   |
|                                             |   |                        |                                |         |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Ridgewood                Management              |   | **$**                       | **-**                               |         |                        | $      | - |   |   | $ | - |   |   | **$** | **1,432,463** |   |   | $ | 1,522,000 |   |   | $ | 763,670 |   |
| Ridgewood                Electric Power Trust IV |   | ** **                  | **-**                               |         |                        |   | - |   |   |   | 298,292 |   |   | ** ** | **-** |   |   |   | 421,691 |   |   |   | - |   |
| Ridgewood                Electric Power Trust V  |   | ** **                  | **-**                               |         |                        |   | - |   |   |   | - |   |   | ** ** | **-** |   |   |   | 234,399 |   |   |   | 370,227 |   |
| Other                affiliates                  |   | ** **                  | **-**                               |         |                        |   | - |   |   |   | 70,000 |   |   | ** ** | **70,000** |   |   |   | - |   |   |   | - |   |
|                                             |   |                        |                                |         |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                             |   | **$**                       | **-**                               |         |                        | $      | - |   |   | $ | 368,292 |   |   | **$** | **1,502,463** |   |   | $ | 2,178,090 |   |   | $ | 1,133,897 |   |

**NOTE      H - FAIR VALUE OF FINANCIAL INSTRUMENTS**

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Table          of Contents

**NOTES      TO FINANCIAL STATEMENTS (continued)**

**NOTE      I - APPROVAL OF QUALIFICATION**

**NOTE      J - COMMITMENTS AND CONTINGENCIES**

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Table          of Contents

**NOTES      TO FINANCIAL STATEMENTS (continued)**

**NOTE      J (continued)**

**NOTE      K - SUBSEQUENT EVENTS**

----