**Exhibit      99.1**

**Harbin      Electric Announces Earnings for the Second Quarter of Fiscal Year      2006**

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**HARBIN        ELECTRIC, INC. & SUBSIDIARIES**

**CONSOLIDATED        BALANCE SHEET**

**(UNAUDITED)**

| **ASSETS**                                                                                                                                    |   | **As                  of June 30, 2006** |         |
|-----------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------------------------|--------------|
|                                                                                                                                          |   |                                          |         |
| CURRENT                  ASSETS:                                                                                                              |   |                                          |         |
| Cash                  & cash equivalents                                                                                                  |   | $                                             | 11,494,797   |   |
| Accounts                  receivable, net of allowance for uncollectible accounts of                  $30,000                                 |   |                                          | 8,395,448    |   |
| Inventory                                                                                                                                     |   |                                          | 908,562      |   |
| Advances                  to suppliers                                                                                                        |   |                                          | 4,601,117    |   |
| Prepaid                  expenses                                                                                                             |   |                                          | 5,096        |   |
|                                                                                                                                          |   |                                          |    |   |
| Total                  current assets                                                                                                         |   |                                          | 25,405,020   |   |
|                                                                                                                                          |   |                                          |         |   |
| PROPERTY                  AND EQUIPMENT, net                                                                                                  |   |                                          | 7,876,280    |   |
|                                                                                                                                          |   |                                          |         |   |
| INTANGIBLE                  ASSETS, net                                                                                                       |   |                                          | 306,630      |   |
|                                                                                                                                          |   |                                          |         |   |
|                                                                                                                                          |   |                                          |    |   |
| TOTAL                  ASSETS                                                                                                                 |   | $                                             | 33,587,930   |   |
|                                                                                                                                          |   |                                          |         |   |
| **LIABILITIES                  AND STOCKHOLDERS' EQUITY**                                                                                     |   |                                          |         |   |
|                                                                                                                                          |   |                                          |         |   |
| CURRENT                  LIABILITIES:                                                                                                         |   |                                          |         |   |
| Accounts                  payable                                                                                                             |   | $                                             | 773,663      |   |
| Payment                  in advance                                                                                                           |   |                                          | 673,924      |   |
|                                                                                                                                          |   |                                          |    |   |
| TOTAL                  CURRENT LIABILITIES                                                                                                    |   |                                          | 1,447,587    |   |
|                                                                                                                                          |   |                                          |         |   |
| STOCKHOLDERS'                  EQUITY                                                                                                         |   |                                          |         |   |
| Common                    stock, .00001 par value; authorized shares 100,000,000; issued                    and outstanding 16,600,451 shares |   |                                          | 166          |   |
| Additional                  paid in capital                                                                                                   |   |                                          | 11,627,676   |   |
| Statutory                  reserves                                                                                                           |   |                                          | 2,967,560    |   |
| Accumulated                  other comprehensive income                                                                                       |   |                                          | 732,650      |   |
| Retained                  earnings                                                                                                            |   |                                          | 16,812,292   |   |
|                                                                                                                                          |   |                                          |    |   |
| Total                  stockholders' equity                                                                                                   |   |                                          | 32,140,344   |   |
|                                                                                                                                          |   |                                          |         |   |
| TOTAL                  LIABILITIES AND STOCKHOLDERS' EQUITY                                                                                   |   | $                                             | 33,587,930   |   |
|                                                                                                                                          |   |                                          |         |   |

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**HARBIN        ELECTRIC, INC. & SUBSIDIARIES**

**CONSOLIDATED        STATEMENTS OF OPERATIONS**

**(UNAUDITED)**

|                                                                                    |   | **FOR                  THE SIX MONTH** |       | **FOR                  THE THREE MONTH** |   |
|-----------------------------------------------------------------------------------------|--------|----------------------------------------|------------|------------------------------------------|--------|
|                                                                                    |   | **PERIODS                  ENDED**     |       | **PERIODS                  ENDED**       |   |
|                                                                                    |   | **June                  30, 2006**     |       | **June                  30, 2005**       |   | **June                  30, 2006** |   | **June                  30, 2005** |   |
| Net                  revenue                                                            |   | $                                      | 18,590,003 |                                     | $      | 9,402,739 |   | $ | 9,711,345 |   | $ | 5,274,442 |   |
| Cost                  of revenue                                                        |   |                                   | 9,515,476  |                                     |   | 4,598,080 |   |   | 4,910,553 |   |   | 2,520,020 |   |
| Gross                  profit                                                           |   |                                   | 9,074,527  |                                     |   | 4,804,659 |   |   | 4,800,791 |   |   | 2,754,422 |   |
| Operating                  expenses:                                                    |   |                                   |       |                                     |   |   |   |   |   |   |   |   |   |
| Selling                  expenses                                                       |   |                                   | 424,606    |                                     |   | 124,333 |   |   | 216,600 |   |   | 17,745 |   |
| General                  and administrative expenses                                    |   |                                   | 1,833,000  |                                     |   | 394,001 |   |   | 924,243 |   |   | 142,301 |   |
| Total                  operating expenses                                               |   |                                   | 2,257,607  |                                     |   | 518,334 |   |   | 1,140,842 |   |   | 160,046 |   |
| Income                  from operations                                                 |   |                                   | 6,816,920  |                                     |   | 4,286,325 |   |   | 3,659,949 |   |   | 2,594,376 |   |
| Non-operating                  Income                                                   |   |                                   |       |                                     |   |   |   |   |   |   |   |   |   |
| Realized                  gain on sale of marketable securities                         |   |                                   | 571,143    |                                     |   | - |   |   | - |   |   | - |   |
| Other                  income (expense)                                                 |   |                                   | 53,148     |                                     |   | - |   |   | (914 | ) |   | - |   |
| Interest                  income                                                        |   |                                   | 31,030     |                                     |   | 14,118 |   |   | 18,709 |   |   | 13,824 |   |
| Net                  income                                                             |   |                                   | 7,472,241  |                                     |   | 4,300,443 |   |   | 3,677,744 |   |   | 2,608,200 |   |
| Other                  comprehensive item:                                              |   |                                   |       |                                     |   |   |   |   |   |   |   |   |   |
| Unrealized                  gain on marketable securities                               |   |                                   | -          |                                     |   | (145,645 | ) |   | - |   |   | - |   |
| Translation                  gain                                                       |   |                                   | 322,355    |                                     |   | - |   |   | 80,612 |   |   | - |   |
| Reclassification                  adjustment for gains on sale of marketable securities |   |                                   | (587,171   | )                                        |   | - |   |   | - |   |   | (159,645 | ) |
| Comprehensive                  Income                                                   |   | $                                      | 7,207,425  |                                     | $      | 4,154,798 |   | $ | 3,758,355 |   | $ | 2,448,555 |   |
| Basic                  weighted average shares outstanding                              |   |                                   | 16,600,451 |                                     |   | 15,000,450 |   |   | 16,600,451 |   |   | 15,000,450 |   |
| Basic                  net earnings per share                                           |   | $                                      | 0.45       |                                     | $      | 0.29 |   | $ | 0.22 |   | $ | 0.17 |   |
| Diluted                  weighted average shares outstanding                            |   |                                   | 17,245,535 |                                     |   | 15,125,588 |   |   | 17,350,758 |   |   | 15,125,588 |   |
| Diluted                  net earnings per share                                         |   | $                                      | 0.43       |                                     | $      | 0.28 |   | $ | 0.21 |   | $ | 0.17 |   |

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**HARBIN        ELECTRIC, INC. & SUBSIDIARIES**

**CONSOLIDATED        STATEMENTS OF CASH FLOWS**

**(UNAUDITED)**

|                                                                                                                |   | **FOR                  THE SIX MONTH PERIODS ENDED** |               |
|---------------------------------------------------------------------------------------------------------------------|--------|------------------------------------------------------|--------------------|
|                                                                                                                |   | **June 30,                  2006**              |               | **June                  30, 2005** |   |
|                                                                                                                |   |                                                 |               |   |   |
| **CASH                  FLOWS FROM OPERATING ACTIVITIES:**                                                          |   |                                                 |               |   |   |
| Net                  income                                                                                         |   | $                                                    | 7,472,241          |   | $ | 4,300,443 |   |
| Adjustments                  to reconcile net income to net cash provided by operating                  activities: |   |                                                 |               |   |   |   |   |
| Depreciation                                                                                                        |   |                                                 | 146,512            |   |   | 211,290 |   |
| Realized                  gain on sale of marketable securities                                                     |   |                                                 | (571,143           | ) |   | - |   |
| Stock                  based compensation                                                                           |   |                                                 | 330,000            |   |   | - |   |
| (Increase)                  decrease in current assets:                                                             |   |                                                 |               |   |   |   |   |
| Accounts                  receivable                                                                                |   |                                                 | (2,490,257         | ) |   | (1,900,326 | ) |
| Inventory                                                                                                           |   |                                                 | 444,295            |   |   | 1,411 |   |
| Advances                  to suppliers                                                                              |   |                                                 | (1,826,602         | ) |   | (1,183,090 | ) |
| Other                  assets                                                                                       |   |                                                 | (960               | ) |   | - |   |
| Increase                  in current liabilities:                                                                   |   |                                                 |               |   |   |   |   |
| Accounts                  payable                                                                                   |   |                                                 | 583,747            |   |   | 414,336 |   |
| Payment                  in advance                                                                                 |   |                                                 | 670,950            |   |   | - |   |
| Accrued                  expenses                                                                                   |   |                                                 | -                  |   |   | (116,650 | ) |
|                                                                                                                |   |                                                 |     |   |   |     |   |
| Net                  cash provided by operating activities                                                          |   |                                                 | 4,758,783          |   |   | 1,727,414 |   |
|                                                                                                                |   |                                                 |               |   |   |   |   |
| **CASH                  FLOWS FROM INVESTING ACTIVITIES:**                                                          |   |                                                 |               |   |   |   |   |
| Proceeds                  from sale of marketable securities                                                        |   |                                                 | 1,093,165          |   |   | - |   |
| Acquisition                  of intangible assets                                                                   |   |                                                 | -                  |   |   | (266,200 | ) |
| Acquisition                  on property & equipment                                                            |   |                                                 | (175,582           | ) |   | (210,888 | ) |
|                                                                                                                |   |                                                 |          |   |   |    |   |
| Net                  cash provided by (used in) investing activities                                                |   |                                                 | 917,583            |   |   | (477,088 | ) |
|                                                                                                                |   |                                                 |               |   |   |   |   |
| **CASH                  FLOWS FROM FINANCING ACTIVITIES:**                                                          |   |                                                 |               |   |   |   |   |
| Due                  to related party                                                                               |   |                                                 | -                  |   |   | 87,360 |   |
| Advances                  to related party                                                                          |   |                                                 | -                  |   |   | 206,309 |   |
|                                                                                                                |   |                                                 |          |   |   |    |   |
| Net                  cash provided by financing activities                                                          |   |                                                 | -                  |   |   | 293,669 |   |
|                                                                                                                |   |                                                 |               |   |   |   |   |
| **EFFECT                  OF EXCHANGE RATE CHANGE ON CASH & CASH                  EQUIVALENTS**                 |   |                                                 | 79,412             |   |   | - |   |
|                                                                                                                |   |                                                 |               |   |   |   |   |

----

| **NET                  INCREASE IN CASH & CASH EQUIVALENTS**      |   |   | 5,755,778  |   |   | 1,543,995 |   |
|-----------------------------------------------------------------------|--------|--------|------------|--------|--------|-----------|--------|
|                                                                  |   |   |       |   |   |      |   |
| **CASH                  & CASH EQUIVALENTS, BEGINNING OF PERIOD** |   |   | 5,739,019  |   |   | 2,210,803 |   |
|                                                                  |   |   |       |   |   |      |   |
| **CASH                  & CASH EQUIVALENTS, END OF PERIOD**       |   | $      | 11,494,797 |   | $      | 3,754,798 |   |

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**HARBIN        ELECTRIC, INC. & SUBSIDIARIES**

**CONSOLIDATED        STATEMENTS OF STOCKHOLDERS' EQUITY**

**FOR        THE PERIOD ENDED JUNE 30, 2006**

|                                                                                  |   | Common                    Stock         |                           |   |   |                                            |   |                                       |                           |                                     |   |                                    |   |                                                     |                           |                                               |   |                                              |   |
|---------------------------------------------------------------------------------------|--------|-----------------------------------------|--------------------------------|--------|--------|-------------------------------------------------|--------|--------------------------------------------|--------------------------------|------------------------------------------|--------|-----------------------------------------|--------|----------------------------------------------------------|--------------------------------|----------------------------------------------------|--------|---------------------------------------------------|--------|
|                                                                                  |   | Number                        of shares |                           | Amount |   | Additional                      paid in capital |   | Subscription                    receivable |                           | Shares                      to be issued |   | Statutory                      reserves |   | Other                        comprehensive income (loss) |                           | Retained                        earnings (deficit) |   | Total                        stockholders' equity |   |
|                                                                                  |   |                                    |                           |   |   |                                            |   |                                       |                           |                                     |   |                                    |   |                                                     |                           |                                               |   |                                              |   |
|                                                                                  |   |                                    |                           |   |   |                                            |   |                                       |                           |                                     |   |                                    |   |                                                     |                           |                                               |   |                                              |   |
| Balance                    as of December                    31, 2003                 |   |                                    | 1,357,466                      |   | $      | 14                                              |   | $                                          | 725,986                        |                                     | $      | -                                       |   | $                                                        | -                              |                                               | $      | -                                                 |   | $ | - |   | $ | (3,880 | ) | $ | 722,120 |   |
|                                                                                  |   |                                    |                           |   |   |                                            |   |                                       |                           |                                     |   |                                    |   |                                                     |                           |                                               |   |                                              |   |   |   |   |   |   |   |   |   |   |
| Issuance                    of subsidiary's stock                                     |   |                                    | 10,642,534                     |   |   | 106                                             |   |                                       | 5,771,736                      |                                     |   | (4,862,256                              | )      |                                                     | -                              |                                               |   | -                                                 |   |   | - |   |   | - |   |   | 909,586 |   |
|                                                                                  |   |                                    |                           |   |   |                                            |   |                                       |                           |                                     |   |                                    |   |                                                     |                           |                                               |   |                                              |   |   |   |   |   |   |   |   |   |   |
| Accrued                    interest on subscription receivable                        |   |                                    | -                              |   |   | -                                               |   |                                       | 125,859                        |                                     |   | (125,859                                | )      |                                                     | -                              |                                               |   | -                                                 |   |   | - |   |   | - |   |   | - |   |
|                                                                                  |   |                                    |                           |   |   |                                            |   |                                       |                           |                                     |   |                                    |   |                                                     |                           |                                               |   |                                              |   |   |   |   |   |   |   |   |   |   |
| Unrealized                    loss on investment                                      |   |                                    | -                              |   |   | -                                               |   |                                       | -                              |                                     |   | -                                       |   |                                                     | -                              |                                               |   | -                                                 |   |   | (102,245 | ) |   | - |   |   | (102,245 | ) |
|                                                                                  |   |                                    |                           |   |   |                                            |   |                                       |                           |                                     |   |                                    |   |                                                     |                           |                                               |   |                                              |   |   |   |   |   |   |   |   |   |   |
| Net                    income for the year ended December                    31, 2004 |   |                                    | -                              |   |   | -                                               |   |                                       | -                              |                                     |   | -                                       |   |                                                     | -                              |                                               |   | -                                                 |   |   | - |   |   | 2,311,333 |   |   | 2,311,333 |   |
|                                                                                  |   |                                    |                           |   |   |                                            |   |                                       |                           |                                     |   |                                    |   |                                                     |                           |                                               |   |                                              |   |   |   |   |   |   |   |   |   |   |
| Allocation                    to statutory reserves                                   |   |                                    | -                              |   |   | -                                               |   |                                       | -                              |                                     |   | -                                       |   |                                                     | -                              |                                               |   | 346,700                                           |   |   | - |   |   | (346,700 | ) |   | - |   |
|                                                                                  |   |                                    |                      |   |   |                                       |   |                                       |                      |                                     |   |                               |   |                                                     |                      |                                               |   |                                         |   |   |                      |   |   |                      |   |   |    |   |
| Balance                    as of December                    31, 2004                 |   |                                    | 12,000,000                     |   |   | 120                                             |   |                                       | 6,623,581                      |                                     |   | (4,988,115                              | )      |                                                     | -                              |                                               |   | 346,700                                           |   |   | (102,245 | ) |   | 1,960,753 |   |   | 3,840,794 |   |
|                                                                                  |   |                                    |                           |   |   |                                            |   |                                       |                           |                                     |   |                                    |   |                                                     |                           |                                               |   |                                              |   |   |   |   |   |   |   |   |   |   |
| Recapitalization                    on reverse acquisition                            |   |                                    | 3,000,451                      |   |   | 30                                              |   |                                       | (30                            | )                                        |   | -                                       |   |                                                     | -                              |                                               |   | -                                                 |   |   | - |   |   | - |   |   | - |   |
|                                                                                  |   |                                    |                           |   |   |                                            |   |                                       |                           |                                     |   |                                    |   |                                                     |                           |                                               |   |                                              |   |   |   |   |   |   |   |   |   |   |
| Forward                    stock split                                                |   |                                    |                           |   |   |                                            |   |                                       |                           |                                     |   | -                                       |   |                                                     |                           |                                               |   | -                                                 |   |   | - |   |   | - |   |   | - |   |
|                                                                                  |   |                                    |                           |   |   |                                            |   |                                       |                           |                                     |   |                                    |   |                                                     |                           |                                               |   |                                              |   |   |   |   |   |   |   |   |   |   |
| Shares                    to be issued (786,000) for acquisition of JV                |   |                                    | -                              |   |   |                                            |   |                                       | -                              |                                     |   | -                                       |   |                                                     | -                              |                                               |   | -                                                 |   |   | - |   |   | - |   |   | - |   |
|                                                                                  |   |                                    |                           |   |   |                                            |   |                                       |                           |                                     |   |                                    |   |                                                     |                           |                                               |   |                                              |   |   |   |   |   |   |   |   |   |   |
| Subscription                    receivable exchange for Property & equipment      |   |                                    | -                              |   |   | -                                               |   |                                       | -                              |                                     |   | 4,862,256                               |   |                                                     | -                              |                                               |   | -                                                 |   |   | - |   |   | - |   |   | 4,862,256 |   |
|                                                                                  |   |                                    |                           |   |   |                                            |   |                                       |                           |                                     |   |                                    |   |                                                     |                           |                                               |   |                                              |   |   |   |   |   |   |   |   |   |   |
| Accrued                    interest on subscription receivable                        |   |                                    | -                              |   |   | -                                               |   |                                       | (125,859                       | )                                        |   | 125,859                                 |   |                                                     | -                              |                                               |   | -                                                 |   |   | - |   |   | - |   |   | - |   |
|                                                                                  |   |                                    |                           |   |   |                                            |   |                                       |                           |                                     |   |                                    |   |                                                     |                           |                                               |   |                                              |   |   |   |   |   |   |   |   |   |   |
| Shares                    issued for cash                                             |   |                                    | 1,600,000                      |   |   | 16                                              |   |                                       | 4,799,984                      |                                     |   | -                                       |   |                                                     | -                              |                                               |   | -                                                 |   |   | - |   |   | - |   |   | 4,800,000 |   |
|                                                                                  |   |                                    |                           |   |   |                                            |   |                                       |                           |                                     |   |                                    |   |                                                     |                           |                                               |   |                                              |   |   |   |   |   |   |   |   |   |   |
| Allocation                    to statutory reserves                                   |   |                                    | -                              |   |   | -                                               |   |                                       | -                              |                                     |   | -                                       |   |                                                     | -                              |                                               |   | 1,500,024                                         |   |   | - |   |   | (1,500,024 | ) |   | - |   |

----

| Items                    of other comprehensive income:                    |   |   |                           |   |   |                           |   |   |                           |   |   |                           |   |   |                           |   |   |                           |   |   |                           |   |   |                           |   |   |                           |    |
|----------------------------------------------------------------------------|--------|--------|--------------------------------|--------|--------|--------------------------------|--------|--------|--------------------------------|--------|--------|--------------------------------|--------|--------|--------------------------------|--------|--------|--------------------------------|--------|--------|--------------------------------|--------|--------|--------------------------------|--------|--------|--------------------------------|---------|
|                                                                       |   |   |                           |   |   |                           |   |   |                           |   |   |                           |   |   |                           |   |   |                           |   |   |                           |   |   |                           |   |   |                           |    |
| Unrealized                    gain on investment                           |   |   | -                              |   |   | -                              |   |   | -                              |   |   | -                              |   |   | -                              |   |   | -                              |   |   | 587,171                        |   |   | -                              |   |   | 587,171                        |    |
|                                                                       |   |   |                           |   |   |                           |   |   |                           |   |   |                           |   |   |                           |   |   |                           |   |   |                           |   |   |                           |   |   |                           |    |
| Shares                    to be issued for Joint Venture                   |   |   | -                              |   |   | -                              |   |   | -                              |   |   | -                              |   |   | -                              |   |   | -                              |   |   | -                              |   |   | -                              |   |   | -                              |    |
|                                                                       |   |   |                           |   |   |                           |   |   |                           |   |   |                           |   |   |                           |   |   |                           |   |   |                           |   |   |                           |   |   |                           |    |
| Foreign                    currency translation                            |   |   | -                              |   |   | -                              |   |   | -                              |   |   | -                              |   |   | -                              |   |   | -                              |   |   | 512,540                        |   |   | -                              |   |   | 512,540                        |    |
|                                                                       |   |   |                           |   |   |                           |   |   |                           |   |   |                           |   |   |                           |   |   |                           |   |   |                           |   |   |                           |   |   |                           |    |
| Net                    income for the year ended December 31, 2005         |   |   | -                              |   |   | -                              |   |   | -                              |   |   | -                              |   |   | -                              |   |   | -                              |   |   | -                              |   |   | 10,000,158                     |   |   | 10,000,158                     |    |
|                                                                       |   |   |                      |   |   |                      |   |   |                      |   |   |                      |   |   |                      |   |   |                      |   |   |                      |   |   |                      |   |   |                           |    |
| Balance                    as ofDecember                    31, 2005       |   |   | 16,600,451                     |   |   | 166                            |   |   | 11,297,676                     |   |   | -                              |   |   | -                              |   |   | 1,846,724                      |   |   | 997,466                        |   |   | 10,460,887                     |   |   | 24,602,919                     |    |
|                                                                       |   |   |                           |   |   |                           |   |   |                           |   |   |                           |   |   |                           |   |   |                           |   |   |                           |   |   |                           |   |   |                           |    |
| Allocation                    to statutory reserves                        |   |   |                           |   |   | -                              |   |   | -                              |   |   | -                              |   |   | -                              |   |   | 1,120,837                      |   |   | -                              |   |   | (1,120,837                     | )      |   | -                              |    |
|                                                                       |   |   |                           |   |   |                           |   |   |                           |   |   |                           |   |   |                           |   |   |                           |   |   |                           |   |   |                           |   |   |                           |    |
| Stock                    option vested                                     |   |   |                           |   |   | -                              |   |   | 330,000                        |   |   | -                              |   |   | -                              |   |   | -                              |   |   | -                              |   |   | -                              |   |   | 330,000                        |    |
|                                                                       |   |   |                           |   |   |                           |   |   |                           |   |   |                           |   |   |                           |   |   |                           |   |   |                           |   |   |                           |   |   |                           |    |
| Unrealized                    gain on investment                           |   |   |                           |   |   | -                              |   |   | -                              |   |   | -                              |   |   | -                              |   |   | -                              |   |   | (587,171                       | )      |   | -                              |   |   | (587,171                       | )  |
|                                                                       |   |   |                           |   |   |                           |   |   |                           |   |   |                           |   |   |                           |   |   |                           |   |   |                           |   |   |                           |   |   |                           |    |
| Foreign                    currency translation                            |   |   |                           |   |   | -                              |   |   | -                              |   |   | -                              |   |   | -                              |   |   | -                              |   |   | 322,355                        |   |   | -                              |   |   | 322,355                        |    |
|                                                                       |   |   |                           |   |   |                           |   |   |                           |   |   |                           |   |   |                           |   |   |                           |   |   |                           |   |   |                           |   |   |                           |    |
| Net                    income for the six month period ended June 30, 2006 |   |   |                           |   |   | -                              |   |   | -                              |   |   | -                              |   |   | -                              |   |   | -                              |   |   | -                              |   |   | 7,472,241                      |   |   | 7,472,241                      |    |
|                                                                       |   |   |                      |   |   |                      |   |   |                      |   |   |                      |   |   |                      |   |   |                      |   |   |                      |   |   |                      |   |   |                      |    |
| Balance                    as of June 30, 2006                             |   |   | 16,600,451                     |   | $      | 166                            |   | $      | 11,627,676                     |   | $      | -                              |   | $      | -                              |   | $      | 2,967,560                      |   | $      | 732,650                        |   | $      | 16,812,292                     |   | $      | 32,140,344                     |    |

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