----

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| Title                of each classNone |   | Name                of each exchange on which                registeredNone |
|----------------------------------------|--------|-----------------------------------------------------------------------------|

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----

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**ITEM      1. DESCRIPTION OF BUSINESS.**

**Subsequent      Event**

**Additional      Information**

----

**ITEM      2. DESCRIPTIONS OF PROPERTIES.**

**ITEM      3. LEGAL PROCEEDINGS.**

**ITEM      4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.**

**PART      II**

**ITEM      5. MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS AND SMALL BUSINESS      ISSUER PURCHASES OF EQUITY SECURITIES.**

|                          |                                 |   |                                 |
|-------------------------------|--------------------------------------|--------|--------------------------------------|
|                          | Fiscal                Year Ended2005 |   | Fiscal                Year Ended2004 |
|                          | High                                 | Low    |                                 | High | Low |
| First                Quarter  | $0.005                               | $0.005 |                                 | $0.01 | $0.01 |
| Second                Quarter | $0.006                               | $0.006 |                                 | $0.01 | $0.01 |
| Third                Quarter  | $0.01                                | $0.01  |                                 | $0.01 | $0.01 |
| Fourth                Quarter | $0.01                                | $0.01  |                                 | $0.01 | $0.01 |

----

**ITEM      6. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS      OF      OPERATIONS.**

**General      Discussion on Results of Operations and Analysis of Financial      Condition**

**Current      Operations**

**YEAR      ENDED DECEMBER 31, 2005 COMPARED TO THE YEAR ENDED DECEMBER 31,      2004**

**REVENUES**

**GENERAL      AND ADMINSTRATIVE EXPENSES**

----

**INTEREST      EXPENSE**

**MATERIAL      CHANGES IN FINANCIAL CONDITION, LIQUIDITY AND CAPITAL      RESOURCES**

**FORGIVENESS      OF DEBT **

**Risk      Factors**

*The      financial condition, business, operations, and prospects of the Company involve      a high degree of risk. You should carefully consider the risks and uncertainties      described below, which constitute the material risks relating to the Company,      and the other information in this report. If any of the following risks are      realized, the Company’s business, operating results and financial condition      could be harmed and the value of the Company’s stock could suffer. This means      that investors and stockholders of the Company could lose all or a part of      their      investment.*

----

**Our      business is difficult to evaluate because it has a limited operating      history**

**Flagship      has a history of significant losses and may not be profitable in the future      and      has going concern considerations**

**Flagship      may be unable to fund future growth**

----

**Flagship’s      growth **
**may**
**      be limited if it is unable to attract and retain qualified personnel**

**Lengthy      sales and implementation cycles for our product makes it difficult to forecast      our revenues and, as a result, may have an adverse impact on our      business**

**We      face significant competition for our products and services**

----

**If      we are unable to provide priority access to high quality healthcare that      attracts and retains members, our revenues will be reduced**

**Flagship      is exposed to the general condition of the healthcare      market**

**Flagship’s      products may not achieve acceptance in the marketplace**

**We      will incur increased costs as a result of being a publicly traded      company**

**Penny      stock rules could make it hard to resell your shares.**

      Pink      Sheets.      We plan      to apply for a listing on the OTC Bulletin Board.   The OTC Bulletin      Board may not accept the application of any market maker to initiate quotations      in our common stock.  An investor may find it more difficult to dispose of      shares or obtain accurate quotations as to the market value of our common stock.      In addition, rules promulgated by the SEC impose various practice requirements      on broker-dealers who sell securities that fail to meet certain criteria set      forth in those rules to persons other than established customers and accredited      investors. Consequently, the liquidity of Finity’s securities could be impaired,      not only in the number of securities which could be bought and sold, but also      through delays in the timing of transactions, reduction in security analysts'      and the news media's coverage of Finity, and lower prices for Finity’s      securities than might otherwise be attained.

----

**Flagship      may be subject to litigation**

**Flagship      lacks accounting and reporting controls**

**Government      regulation of healthcare creates risks and challenges with respect to our      compliance efforts and our business strategies**

|   | · | *Anti-kickback                Laws* |
|--------|--------|-------------------------------------|

----

|   | · | There                are federal and state laws that govern patient referrals, physician                financial relationships and inducements to healthcare providers and                patients. The federal healthcare programs anti-kickback law prohibits                any                person or entity from offering, paying, soliciting or receiving anything                of value, directly or indirectly, for the referral of patients covered                by                Medicare, Medicaid and other federal healthcare programs or the leasing,                purchasing, ordering or arranging for or recommending the lease,                purchase                or order of any item, good, facility or service covered by these                programs.                Many states also have similar anti-kickback laws that are not necessarily                limited to items or services for which payment is made by a federal                healthcare program. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | The                laws in this area are broadly written and it is often difficult to                determine precisely how the laws will be applied in specific                circumstances. Penalties for violating the federal anti-kickback                law                include imprisonment, fines and exclusion from participating, directly                or                indirectly, in Medicare, Medicaid and other federal healthcare programs.                Any determination by a state or federal regulatory agency that any                of our                practices violate any of these laws could subject us to civil or                criminal                penalties and require us to change or terminate some portions of                our                business and could have an adverse effect on our business. Even an                unsuccessful challenge by regulatory authorities of our practices                could                result in adverse publicity and be costly for us to                defend. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | o | *Medical                Professional Regulation* |
|--------|---|--------------------------------------------------|

|   | o | The                practice of most healthcare professions requires licensing under                applicable state law. In addition, the laws in some states prohibit                business entities from practicing medicine. If a state determines                that                some portion of our business violates these laws, it may seek to                have us                discontinue those portions or subject us to penalties or licensure                requirements. Any determination that we are a healthcare provider                and have                acted improperly as a healthcare provider may result in liability                to                us. |
|--------|---|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**We      face potential liability related to the privacy and security of personal      information we collect from consumer and healthcare professionals through our      Web sites**

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**ITEM      7. FINANCIAL STATEMENTS.**

**ITEM      8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL      DISCLOSURE.**

**ITEM      8A. CONTROLS AND PROCEDURES.**

|   | · | As                of December 31, 2005 there was a lack of accounting personnel with                the                requisite knowledge of US Generally Accepted Accounting Principles                in the                US (“GAAP”) and the financial reporting requirements of the Securities and                Exchange Commission. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | As                of December 31, 2005 there were insufficient written policies and                procedures to insure the correct application of accounting and financial                reporting with respect to the current requirements GAAP and SEC disclosure                requirements. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | As                of December 31, 2005 there was a lack of segregation of duties, in                that we                had only one person performing all accounting-related                duties. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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**PART      III**

**ITEM      9. DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL PERSONS; COMPLIANCE      WITH      SECTION 16(a) OF THE EXCHANGE ACT**

| **Name**                     | **Age** | **Position                Held** | **Experience**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|------------------------------|---------|----------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                         |    |                             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|                         |    |                             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| Fred                F. Nazem | 65      | Chairman                and CEO  | Mr.                Nazem has been the Chairman of the Board of Directors of Finity and                its                Chief Executive Officer since January 2006, and has served in the                same                capacity for Flagship since February 2004. A venture capitalist since                the                early 1970’s, he launched Nazem & Lieber in 1981 and Nazem &                Company in 1983. Since then he has been the Managing Partner of Nazem                & Company. Mr. Nazem has been an entrepreneur, venture capitalist and                corporate turnaround specialist for more than 30 years. He has started,                financed or guided several dozen companies, including Oxford Health                Plans,                Cirrus Logic (CRUS), Universal Health Services (UHS), Genesis Health                Ventures, Medical Care International, Sportsline.com and Apollo Computers                (now part of Hewlett-Packard’s computer division), most of which have                become multibillion-dollar enterprises. As Chairman of Oxford Health                Plans, he led the reorganization and successful turnaround of the                company                when it experienced operational and financial difficulties in 1997.                Mr.                Nazem has a BS in Biochemistry, an MS in Physical Chemistry, both                from the                Ohio State University, and an MBA in Finance from Columbia University.                He                has also done doctoral work in Nuclear Physics at Washington                University.                Mr. Nazem serves on the Science and Technology Advisory Board of                Columbia                Presbyterian Medical Center and through the Nazem Family Foundation                he has                supported many civic, educational and healthcare related                causes. |

----

| Michael                Holland | 61     | Director | Michael                Holland has been a Director of Finity since February 2006 and has                served                in the same capacity for Flagship since November 2004. He is the                Chairman                of Holland & Company, a private investment firm he founded in 1995 in                New York City and the President and Founder of the Holland Balanced                Fund.                He began his career at J.P. Morgan in 1968 where he spent twelve                years                managing both equity and fixed income assets for major institutional                clients as well as wealthy individuals. He served as Chief Executive                Officer of First Boston Asset Management in the early 1980’s and later                served as Chairman of Salomon Brothers Asset Management. Mr. Holland                has                been Chairman of a number of mutual funds, a General Partner of the                Blackstone Group and a CEO of Blackstone Alternative Asset Management,                and                is the former Vice Chairman of Oppenheimer & Co., Inc. He is on the                Board of Directors of The China Fund, a NYSE-listed company, the                Vanguard                Charitable Endowment and the State Street Master Trust Fund. Mr.                Holland                graduated from Harvard University with a concentration in English                in 1966.                In 1968 he received his M.B.A. in finance from Columbia                University. |
|--------------------------------|--------|----------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                           |   |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| Richard                Howard  | 56     | Director | Mr.                Howard has been a Director of Finity since February 2006 and has                served in                the same capacity for Flagship since November 2004. From July 2004                to                August 2005, he was the President of Flagship. From 2003 to 2004,                he was                the Managing Director of BLH Strategies, a consulting firm that provides                management services to companies and nonprofit organizations. From                1985 to                2003, he worked for Genesis Health Ventures, Inc. At various times                during                his seventeen years with Genesis he served as Vice Chairman, President                and                Chief Operating Officer. He also served as a member of the Board                of                Directors for all seventeen years. He received a BS in Economics                and                Corporate Finance from the Wharton School at the University of                Pennsylvania.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |

----

| Michael                Huckabee   | 50     | Director | Governor                Huckabee has been a Director of Finity since February 2006 and has                served                in the same capacity for Flagship since September 2005. A significant                part                of his adult life was spent as a pastor and denominational leader.                Michael                Huckabee was first elected lieutenant governor of Arkansas in 1993                and has                served as governor since July 1996. Governor Huckabee is recognized                as a                national leader in the areas of education reform and health care                reform.                He became chairman of the National Governors Association in July                2005 and                will serve as the leader of the nation’s governors until July 2006.                Governor Huckabee is also the chairman of the Education Commission                of the                States until July 2006. In addition, he is the immediate past president                of                the Council of State Governments and the immediate past state co-chairman                of the Delta Regional Authority. Governor Huckabee is also a former                chairman of the Southern Regional Education Board, the Southern Grown                Policies Board, the Southern Technology Council and the Southern                International Trade and the Interstate Oil & Gas Compact Commission.                Governor Huckabee’s fourth book, “Quit Digging your Grave with a Knife and                Fork” was released in May 2005 and has received favorable reviews. In                1975, Governor Huckabee graduated magna cum laude from Ouachita Baptist                University in Arkadelphia, Arkansas and attended Southwestern Baptist                Theological Seminary from 1976 to 1977. |
|-----------------------------------|--------|----------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                              |   |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| Barbara                McNeil, MD | 64     | Director | Dr.                Barbara McNeil has                been a Director of Finity since February 2006 and has served in the                same                capacity for Flagship                since December 2005. She has worked in the fields of health policy                and                radiology (nuclear medicine) for over 25 years at Harvard Medical                School                and the Brigham and Women’s Hospital. She serves on the Board of Directors                of Cardiovascular Therapeutics (CVTX); in this capacity she serves                on the                Audit Committee and is chair of the Nominating and Governance Committee.                She is also on the Board of Edwards Lifesciences (EW). Prior to this                Dr.                McNeil was the founding head of the Department of Health Care Policy                at                Harvard Medical School, the largest research unit in this area at                Harvard                University. For over ten years she ran the Center for Cost-Effective                Care                at the Brigham and Women’s Hospital. Dr. McNeil practices nuclear medicine                at the Brigham and Women’s Hospital and works actively with the chief of                the department on general strategic issues within radiology. She                received                her AB degree from Emmanuel College in 1962 and her MD in 1966 and                PhD                degree in 1972 from Harvard University. She also attended the Advanced                Management Program (AMP) at Harvard Business School in 1986. At Harvard                Medical School she was one of the first tenured                women.                                                                                                                                                  |

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| Benjamin                Safirstein, MD  | 66     | Director                and EVP - Chief Medical Officer | Dr.                Safirstein has been a Director and EVP and Chief Medical Officer                of Finity                since February 2006 and has served in the same capacity for Flagship                since                February 2004. He did his medical training at The Mount Sinai Hospital                of                New York, where he was Chief Medical Resident, and his pulmonary                training                at the Brompton Hospital, London England, as a fellow of the National                Tuberculosis Foundation. Dr. Safirstein is board certified in Internal                Medicine and pulmonary medicine. Dr Safirstein was a co-founder and                Chief                Medical Officer of Oxford Health Plans and was a director from 1985                to                2004. He serves as chairman of the Scientific Committee of the Arthur                Ashe                Foundation, is Founder of the New Jersey Asthma Foundation and is                the                author of over 50 peer reviewed publications on Respiratory Medicine.                Dr.                Safirstein received his medical degree from The Chicago Medical School                in                1965. |
|-----------------------------------------|--------|---------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                    |   |                                                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| Brian                Stafford           | 57     | Director                                                | Mr.                Stafford has been a Director of Finity since February 2006 and has                served                in the same capacity for Flagship since November 2004. He was Director                of                the United States Secret Service from March 1999 until he retired                in                January 2003. Mr. Stafford began his tenure with the Secret Service                in                1971 as a field office special agent rising in the ranks during his                career                to supervisory position in both protective and investigative assignments,                including Special Agent in Charge of the Presidential Protection                Division.                Mr. Stafford serves on the Board of Trustees of Mount Union College                in                Alliance, Ohio where he received a BA degree in 1969 and an honorary                Doctorate in Human Letters.                                                                                                                                                                                                                                                                                                      |
|                                    |   |                                                    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| Richard                P. Torykian, Sr. | 66     | Director                                                | Mr.                Torykian has been a Director of Finity since February 2006 and has                served                in the same capacity for Flagship since March 2004. He currently                is a                Director at Lazard Freres & Company. He is a member of the Board of                Sponsors, Mercy Hospital, Rockville Centre, NY and was the founding                chairman of the Chaminade High School Development Fund and advisor                to the                Catholic Big Brothers of New York City. He is a trustee of the Intrepid                Sea-Air-Space Museum headquartered aboard the USS Intrepid. Mr. Torykian                received his BA in Chemistry from St. Michaels College in 1961, MS                in                Chemical Engineering from St. Joseph’s University in 1963 and MBA in                Finance from Adelphia University in 1970.                                                                                                                                                                                                                                                                                                                                         |

----

| Philip                Barak      | 53     | VP                - Chief Financial Officer and Corporate Secretary | Mr.                Barak has been the VP - Chief Financial Officer and Corporate Secretary                of                Finity since February 2006 and has served in the same capacity for                Flagship since February 2004. For over the past twenty years he has                been a                General Partner and Chief Financial Officer of Nazem & Company, a                venture capital firm founded in 1976. During that time he served                on the                Boards of Directors of several public and private companies and worked                with venture backed companies in structuring and negotiating financings.                He holds a BS in Accounting from Rider University and is a Certified                Public Accountant and a member of the AICPA and NYSSCPA.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|----------------------------------|--------|---------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                             |   |                                                                |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| John                H. Flood III | 54     | EVP                - Chief Marketing Officer and Corporate Counsel  | Mr.                Flood has been an EVP and Chief Marketing Officer of Finity since                February                2006 and has served in the same capacity for Flagship since February                2005.                For the six months prior, he served as a consultant to the Company.                From                1994 - 2004 Mr. Flood was the managing partner of Flood Donohue Johnston                & McShane where he specialized in transactional law, negotiated                physician employment contracts and also practiced in the areas of                sports                and entertainment law. From 1984 - 1994 he worked for NFL Properties,                the                centralized marketing company of the National Football League where                he                served as company counsel, Executive Vice President of Business Affairs                and President. While at NFL Properties, the company grew from relatively                modest sales in 1984 to over a billion dollars in retail sales by                1994.                Mr. Flood has served on the Nominating Committee for the Harvard                University Board of Overseers, Harvard University’s New York Schools and                Scholarships Committee, has been a Board Member and Selector of the                Lawrenceville School Alumni Association and has served as a Board                Member                of St. Michael’s Heart Research Institute in Newark, NJ. He received his                AB in Psychology from Harvard University and his JD from the University                of                Virginia School of Law. He is admitted to the bar in the states of                New                York and New Jersey. |

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**Compliance      with Section 16(a) of the Securities Exchange Act of 1934**

**Audit      Committee**

**Code      of Ethics**

**ITEM      10. EXECUTIVE COMPENSATION**

----

**SUMMARY      COMPENSATION TABLE**

| Name                and PrincipalPosition                                               | Year                                                 | Annual                Compensation          | Long-Term                Compensation |
|-----------------------------------------------------------------------------------------|------------------------------------------------------|---------------------------------------------|---------------------------------------|
| Salary($)                                                                               | Bonus($)                                             | Other                Annual Compensation($) | Awards                                | Payouts | All                Other Compen-sation($) |
| Restricted                Stock Awards($)                                               | Securities                Underlying Options/SARs(#) | LTIP                Payouts($)              |
|                                                                                    |                                                 |                                        |                                  |   |   |   |   |   |
| Gregory                BossChief                Executive Officer, President *(1)(6)*   | 200520042003                                         | 40,000                00                    | 000                                   | 000 | 000 | 000 | 000 | 000 |
|                                                                                    |                                                 |                                        |                                  |   |   |   |   |   |
| Fred                F. NazemChief                Executive Officer *(1)(4)*             | 200520042003                                         | 275,000208,3330                             | 000                                   | 000 | 000 | 000 | 000 | 000 |
|                                                                                    |                                                 |                                        |                                  |   |   |   |   |   |
| Stephen                J. O’Brien, MD *(2)(4)*                                    | 200520042003                                         | 265,150125,0000                             | 000                                   | 000 | 000 | 000 | 000 | 000 |
|                                                                                    |                                                 |                                        |                                  |   |   |   |   |   |
| Richard                HowardPresident                *(3*)(*4)*                        | 200520042003                                         | 166,667135,417                              | 000                                   | 000 | 000 | 000 | 000 | 000 |
|                                                                                    |                                                 |                                        |                                  |   |   |   |   |   |
| John                H. Flood IIIEVP                - Sales *(5)*                        | 200520042003                                         | 272,61000                                   | 000                                   | 000 | 000 | 800,000750,0000 | 000 | 000 |
|                                                                                    |                                                 |                                        |                                  |   |   |   |   |   |
| Benjamin                Safirstein, MDEVP                - Chief Medical Director *(4)* | 200520042003                                         | 200,000137,5000                             | 000                                   | 000 | 000 | 200,0001,000,0000 | 000 | 000 |
|                                                                                    |                                                 |                                        |                                  |   |   |   |   |   |
| Philip                Barak,VP                - Chief Financial Officer                 | 200520042003                                         | 186,34500                                   | 000                                   | 000 | 000 | 0100,0000 | 000 | 000 |
|                                                                                    |                                                 |                                        |                                  |   |   |   |   |   |

| *(1)* | *Effective                January 17, 2006, Gregory Boss resigned as Chief Executive Officer                and                President of the Company. Effective January 17, 2006 Fred Nazem assumed                the responsibilities of Mr. Boss as Chief Executive Officer and President                and was appointed to the Board of Directors of the                Company.* |
|-------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| *(2)* | *Effective                November 8, 2005, Stephen J. O’Brien, MD resigned as an officer and                director of Flagship. He will not be an officer or director of                Finity.* |
|-------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| *(3)* | *Effective                August 31, 2005 Richard Howard resigned as President of Flagship.                He will                not be an officer of Finity but will be a director. These options                have                terminated.* |
|-------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| *(4)* | *All                2004 compensation was paid in common                stock.* |
|-------|---------------------------------------------------------------------------------|

| *(5)* | *The                options granted to Mr. Flood in 2004 were awarded to him when he                was                employed by the Company as an independent consultant and are non-qualified                stock options.* |
|-------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| *(6)* | *The                $40,000 represents the fair value of the 4,000,000 shares issued                to Mr.                Boss.* |
|-------|----------------------------------------------------------------------------------------------------------------------------------|

| Name                               | Number                of Securities Underlying Options Granted | %                of Total Options Granted to Employees in Fiscal Period | Exercise                Price per Share | Expiration                Date |
|------------------------------------|----------------------------------------------------------------|-------------------------------------------------------------------------|-----------------------------------------|--------------------------------|
|                               |                                                           |                                                                    |                                    |                           |
| Benjamin                Safirstein | 200,000                                                        | 6.91%                                                                   | $0.20                                   | 6/20/15                        |
| John                H. Flood III   | 750,000                                                        | 25.92%                                                                  | $0.10                                   | 11/08/14                       |
|                               | 800,000                                                        | 27.64%                                                                  | $0.20                                   | 6/20/15                        |

|                             | Number                of Unexercised Options at Fiscal Year-End | Value                of Unexercised in-the-Money Options at Fiscal                Year-End($) |
|----------------------------------|-----------------------------------------------------------------|-----------------------------------------------------------------------------------------------|
|                             |                                                            |                                                                                          |
| Name                             | Exercisable                                                     | Unexercisable                                                                                 | Exercisable | Unexercisable |
|                             |                                                            |                                                                                          |   |   |
| John                H. Flood III | 750,000                                                         | 0                                                                                             | $174,750 | $0 |
| Philip                Barak      | 50,000                                                          | 50,000                                                                                        | $11,650 | $11,650 |

**LONG-TERM      INCENTIVE PLANS - AWARDS IN LAST FISCAL YEAR**

| Name      | Number                of Shares, Units or Other Rights | Performance                or Other Period Under Maturation or Payout | Estimated                Future Payouts Under Non-Stock Price-Based Plans |
|-----------|--------------------------------------------------------|-----------------------------------------------------------------------|---------------------------------------------------------------------------|
| Threshold | Target                                                 | Maximum                                                               |
| None      | 0                                                      | 0                                                                     | 0                                                                         | 0 | 0 |

----

**Compensation      of Directors**

**Employment      Agreements**

**Benefit      Plans**

**ITEM      11. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND      MANAGEMENT**

----

|  Name                and Address of Beneficial Owner                                                                                           | Amount                and Nature of Beneficial Ownership |  Percentage                of Class |
|-----------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------|------------------------------------------|
|                                                                                                                                                |                                                     |                                     |
| Flagship                Healthcare Management, Inc.432                Park Avenue South, 13th                FloorNew                York, NY 10016 | 34,000,000                                               | 60.9%                                    |
|                                                                                                                                                |                                                     |                                     |
| Glenn                M. Gallant1260                East Oakland Park Blvd.Ft.                Lauderdale, FL 33334                                   | 5,315,625                                                | 9.5%                                     |
|                                                                                                                                                |                                                     |                                     |
| Douglas                R. Baetz1260                East Oakland Park Blvd.Ft.                Lauderdale, FL 33334                                   | 5,315,625                                                | 9.5%                                     |
|                                                                                                                                                |                                                     |                                     |
| Gregory                Bossc/o                3804 So. Highland Drive Salt                Lake City, Utah 84106                                | 4,000,000                                                | 7.2%                                     |
|                                                                                                                                                |                                                     |                                     |
|                                                                                                                                                |                                                     |                                     |
| **ALL                DIRECTORS AND OFFICERS****AS                A GROUP**                                                                          | **4,000,000**                                            | **7.2%**                                 |

----

| Name                and Address of Beneficial Owner*                                                                                                                                                                                                          | Amount                of Beneficial Ownership After Closing | Percentage                of Class |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------|------------------------------------|
|                                                                                                                                                                                                                                                          |                                                        |                               |
| Fred                Nazem                                                                                                                                                                                                                                     | 22,194,351                *(1)*                             | 37.88%                             |
|                                                                                                                                                                                                                                                          |                                                        |                               |
| Stephen                J. O’Brien, MD300                North StreetGreenwich,                CT 06830                                                                                                                                                  | 11,316,230                *(2)*                             | 19.86%                             |
|                                                                                                                                                                                                                                                          |                                                        |                               |
| Laurus                Master Fund, Ltd.c/o                M&C Corporate Services LimitedP.O.                Box 309 GTUgland                House George                TownSouth                Church StreetGrand                Cayman, Cayman Islands | 7,778,536                *(3)*                              | 12.52%                             |
|                                                                                                                                                                                                                                                          |                                                        |                               |
| John                H. Flood, III                                                                                                                                                                                                                             | 4,035,034                *(4)*                              | 6.87%                              |
|                                                                                                                                                                                                                                                          |                                                        |                               |
| Benjamin                Safirstein, MD                                                                                                                                                                                                                        | 2,113,568                *(5)*                              | 3.71%                              |
|                                                                                                                                                                                                                                                          |                                                        |                               |
| Richard                Howard                                                                                                                                                                                                                                 | 677,083                *(6)*                                | 1.19%                              |
|                                                                                                                                                                                                                                                          |                                                        |                               |
| Philip                Barak                                                                                                                                                                                                                                   | 575,000                *(7)*                                | 1.01%                              |
|                                                                                                                                                                                                                                                          |                                                        |                               |
| Brian                Stafford                                                                                                                                                                                                                                 | 126,923                *(8)*                                | .22%                               |
|                                                                                                                                                                                                                                                          |                                                        |                               |
| Richard                Torykian                                                                                                                                                                                                                               | 50,000                *(8)*                                 | .09%                               |
|                                                                                                                                                                                                                                                          |                                                        |                               |
| Michael                Holland                                                                                                                                                                                                                                | 126,923                *(8)*                                | .22%                               |
|                                                                                                                                                                                                                                                          |                                                        |                               |
| **ALL                DIRECTORS AND OFFICERS****AS                A GROUP**                                                                                                                                                                                    | **29,898,882**                                              | **51.19%**                         |
|                                                                                                                                                                                                                                                          |                                                        |                               |

***

*(1)      Includes 372,263 shares held by Nazem, Inc., a company that Mr. Nazem owns      100%,      the conversion of a $1,000,000 Secured Convertible Term Note at $0.90 per share      into 1,111,111 shares of common stock, the exercise of 504,656 warrants      exercisable at $0.92 per share, 25,944 shares held in the Alexander Gharib      Nazem      Trust and 25,944 shares held in the Taraneh Gharib Nazem Trust, Mr. Nazem’s      children. Susie Gharib Nazem, Mr. Nazem’s wife is the Trustee. Mr. Nazem      disclaims beneficial ownership of the shares held in trust for his      children.*

*(2)      Dr. O’Brien has entered into a Voting Trust Agreement whereby the Board of      Directors of Flagship has the right to vote all of the shares owned by Dr.      O’Brien.*

*(3)      Includes the conversion of a $4,100,000 Secured Convertible Term Note at $0.90      per share into 4,555,556 shares of common stock and the exercise of 621,118      warrants exercisable at $0.92 per share.*

*(4)      Includes the conversion of a $500,000 Secured Convertible Term Note at $0.90      per      share into 555,556 shares of common stock and the exercise of 135,870 warrants      exercisable at $0.92 per share, each held by OldIron Sports and Entertainment      Company, Ltd., of which Mr. Flood is a 50% owner, and the exercise of 116,460      warrants exercisable at $0.92 per share, 750,000 options exercisable at $0.10      per share and 200,000 vested options exercisable at $0.20 per share, all held      by      Mr. Flood. The 750,000 options are subject to the right of repurchase by the      Company.*

*(5)      Includes the conversion of a $50,000 Secured Convertible Term Note at $0.90      per      share into 55,556 shares of common stock, the exercise of 13,587 warrants      exercisable at $0.92 per share, and 1,300,000 shares held by the Safirstein      Family Trust 1991 for the benefit of Dr. Safirstein’s children. Sheila      Safirstein, Dr. Safirstein’s wife, is the Trustee of the Trust. Dr. Safirstein      disclaims beneficial ownership of shares held in the Trust.*

*(6)      Includes 25,000 options exercisable at $0.89 per share. *

*(7)      Includes 75,000 options exercisable at $0.035 per share.*

*(8)      Includes 50,000 options exercisable at $0.20 per share.*

----

**ITEM      12. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS**

**ITEM      13. EXHIBITS AND REPORTS ON FORM 8-K**

| Exhibit                  No. | Description |
|------------------------------|-------------|

| Exhibit                3.1 | Certificate                of Incorporation of the Company (incorporated by reference to Exhibit                3.1                to Amendment No. 1 to the Company’s Form 10-SB, filed June 18,                1998) |
|----------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Exhibit                3.2 | Bylaws                of the Company (incorporated by reference to Exhibit 3.2 to Amendment                No.                1 to the Company’s Form 10-SB, filed June 18,                1998) |
|----------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Exhibit                4.1 | Specimen                Stock Certificate (incorporated by reference to Exhibit 4.1 to Amendment                No. 1 to the Company’s Form 10-SB, filed June 18,                1998) |
|----------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Exhibit                31.1(1) | Certification                of Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley                Act of 2002 |
|--------------------------------|----------------------------------------------------------------------------------------------------------------------------------|

| Exhibit                31.2(1) | Certification                of Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley                Act of 2002 |
|--------------------------------|----------------------------------------------------------------------------------------------------------------------------------|

| Exhibit                32.1(1) | Certification                of Chief Executive Officer Pursuant to 18 U.S.C. Section 1350, as                Adopted                Pursuant to Section 906 of the Sarbanes-Oxley Act of                2002 |
|--------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Exhibit                32.2(1) | Certification                of Chief Financial Officer Pursuant to 18 U.S.C. Section 1350, as                Adopted                Pursuant to Section 906 of the Sarbanes-Oxley Act of                2002 |
|--------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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**ITEM      14. PRINCIPAL ACCOUNTANT FEES AND SERVICES.**

**Audit      Fees**

**Audit      Related Fees**

**Tax      Fees**

**All      Other Fees**

----

**SIGNATURES**

|                             |                                                |                                |
|----------------------------------|-----------------------------------------------------|-------------------------------------|
|                             | **FINITY              HOLDINGS, INC.**              |
|                        |                                           |                           |
|                             | By:                                       | /s/ Fred              F. Nazem |
|                             | Fred              F. Nazem, Chief Executive Officer |
|                             |                                                |
| Date:              April 7, 2006 |                                                |

| Signature                             |   | Title                                                         |   |  Date                     |
|---------------------------------------|--------|---------------------------------------------------------------|--------|--------------------------------|
|                                  |   |                                                          |   |                           |
| /s/                  Fred F. Nazem    |   | Chief                  Executive Officer                      |   | April                  7, 2006 |
| Fred                  F. Nazem        |   | (Principal                  Executive Officer)                |   |                                |
|                                  |   |                                                          |   |                           |
|                                  |   |                                                          |   |                           |
| /s/                  Philip E. Barak  |   | Chief                  Financial Officer                      |   | April                  7, 2006 |
| Philip                  E. Barak      |   | (Principal                  Financial and Accounting Officer) |   |                           |
|                                  |   |                                                          |   |                           |
|                                  |   |                                                          |   |                           |
| /s/                  Michael Holland  |   | Director                                                      |   | April                  7, 2006 |
| Michael                  Holland      |   |                                                          |   |                           |
|                                  |   |                                                          |   |                           |
|                                  |   |                                                          |   |                           |
| /s/                  Richard Howard   |   | Director                                                      |   | April                  7, 2006 |
| Richard                  Howard       |   |                                                          |   |                           |
|                                  |   |                                                          |   |                           |
|                                  |   |                                                          |   |                           |
| /s/                  Michael Huckabee |   | Director                                                      |   | April                  7, 2006 |
| Michael                  Huckabee     |   |                                                          |   |                           |
|                                  |   |                                                          |   |                           |
|                                  |   |                                                          |   |                           |
| /s/                  Barbara McNeil   |   | Director                                                      |   | April                  7, 2006 |
| Barbara                  McNeil       |   |                                                          |   |                           |

----

**Finity      Holdings, Inc.**

**Index      to Financial Statements**

|                                                                   |   | Page                      |
|------------------------------------------------------------------------|--------|---------------------------|
|                                                                   |   |                      |
| Report                of Independent Registered Public Accounting Firm |   | F-2                       |
|                                                                   |   |                      |
| Balance                Sheet                                           |   | F-3                       |
|                                                                   |   |                      |
| Statements                of Expenses                                  |   | F-4                       |
|                                                                   |   |                      |
| Statement                of Changes in Stockholders’ Deficit     |   | F-5                       |
|                                                                   |   |                      |
| Statements                of Cash Flows                                |   | F-6                       |
|                                                                   |   |                      |
| Notes                to Financial Statements                           |   | F-7                - F-10 |

----

----

| ASSETS                                                                                                                                              |   |   |       |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|------------|--------|
| ASSETS                                                                                                                                              |   | $      | -          |   |
| LIABILITIES                AND STOCKHOLDERS’ DEFICIT                                                                                          |   |   |       |   |
| LIABILITIES                                                                                                                                         |   |   |       |   |
| Accounts                payable                                                                                                                     |   | $      | 76         |   |
| Commitments                                                                                                                                         |   |   | -          |   |
| STOCKHOLDERS’                DEFICIT                                                                                                          |   |   |       |   |
| Common                stock, $.001 par value, 100,000,000 shares authorized, 55,761,512                shares                issued and outstanding |   |   | 55,761     |   |
| Additional                paid-in capital                                                                                                           |   |   | 8,789,484  |   |
| Retained                deficit                                                                                                                     |   |   | (8,845,321 | )      |
| Total                stockholders’ deficit                                                                                                    |   |   | (76        | )      |
| Total                Liabilities and Stockholders’ Deficit                                                                                    |   | $      | -          |   |

----

|                                                |   | 2005   |       | 2004   |   |
|-----------------------------------------------------|--------|--------|------------|--------|--------|
| General                and administrative expenses  |   | $      | 54,951     |   | $      | 48,676 |   |
|  Interest                expense               |   |   | 10,410     |   |   | 19,738 |   |
| Net                loss                             |   | $      | (65,361    | )      | $      | (68,414 | ) |
|                                                |   |   |       |   |   |   |   |
| Basic                and diluted net loss per share |   | $      | (0.00      | )      | $      | (0.00 | ) |
| Weighted                average shares outstanding  |   |   | 52,536,364 |   |   | 50,878,073 |   |

----

|                                                                                                     |   | Common                Stock |               |        |   |                                |   |                                 |         |
|-----------------------------------------------------------------------------------------------------|--------|-----------------------------|--------------------|--------|--------|--------------------------------|--------|---------------------------------|--------------|
|                                                                                                |   | Shares                      |               | Par    |   | Paid-In                Capital |   | Retained                Deficit |         | Totals |   |
|                                                                                                |   |                        |               |   |   |                           |   |                            |         |   |   |
| Balances,                12/31/03                                                                   |   |                        | 50,878,073         |   | $      | 50,878                         |   | $                               | 8,447,817    |   | $ | (8,771,546 | ) | $ | (212,851 | ) |
| Imputed                interest                                                                     |   |                        | -                  |   |   | -                              |   |                            | 19,738       |   |   | - |   |   | 19,738 |   |
| Net                loss                                                                             |   |                        | -                  |   |   | -                              |   |                            | -            |   |   | (68,414 | ) |   | (68,414 | ) |
| Balance,                12/31/04                                                                    |   |                        | 50,878,073         |   |   | 50,878                         |   |                            | 8,467,555    |   |   | (8,779,960 | ) |   | (261,527 | ) |
| Shares                issued-                for services-                for litigation settlement |   |                        | 4,000,0001,200,000 |   |   | 4,0001,200                     |   |                            | 36,00010,800 |   |   | -- |   |   | 40,00012,000 |   |
| Imputed                interest                                                                     |   |                        | -                  |   |   | -                              |   |                            | 10,410       |   |   | - |   |   | 10,410 |   |
| Debt                forgiveness from related party                                                  |   |                        | -                  |   |   | -                              |   |                            | 264,402      |   |   | - |   |   | 264,402 |   |
| Cancellation                of shares                                                               |   |                        | (316,561           | )      |   | (317                           | )      |                            | 317          |   |   |   |   |   |   |   |
| Net                loss                                                                             |   |                        | -                  |   |   | -                              |   |                            | -            |   |   | (65,361 | ) |   | (65,361 | ) |
| Balances,                12/31/05                                                                   |   |                        | 55,761,512         |   | $      | 55,761                         |   | $                               | 8,789,484    |   | $ | (8,845,321 | ) | $ | (76 | ) |

----

|                                                                                                      |   | 2005   |    | 2004    |   |
|-----------------------------------------------------------------------------------------------------------|--------|--------|---------|---------|--------|
| Cash                flows from operating activities:                                                      |   |   |    |    |   |   |   |
| Net                loss                                                                                   |   | $      | (65,361 | )       | $      | (68,414 | ) |
| Adjustments                to reconcile net loss to net cash used in operating                activities: |   |   |    |    |   |   |   |
| Imputed                interest                                                                           |   |   | 10,410  |    |   | 19,738 |   |
| Shares                issued for services                                                                 |   |   | 40,000  |    |   | - |   |
| Shares                issued for litigation settlement                                                    |   |   | 12,000  |    |   |   |   |
| Changes                in:                                                                                |   |   |    |    |   |   |   |
| Accounts                payable                                                                           |   |   | 76      |    |   | - |   |
| Net                cash used in operating activities                                                      |   |   | (2,875  | )       |   | (48,676 | ) |
| Cash              flow from financing activities:                                                         |   |   |    |    |   |   |   |
| Advances                from related party                                                                |   |   | 2,693   |    |   | 48,616 |   |
| Net              change in cash                                                                           |   |   | (182    | )  |   | (60 | )  |
| Cash                at beginning of year                                                                  |   |   | 182     |    |   | 242 |   |
| Cash                at end of year                                                                        |   | $      | -       |    | $      | 182 |   |
| Supplemental              disclosures:                                                                    |   |   |    |    |   |   |   |
| Cash                paid for income tax                                                                   |   | $      | -       |    | $      | - |   |
| Cash                paid for interest                                                                     |   |   | -       |    |   | - |   |
| Non-cash              transaction:                                                                        |   |   |    |    |   |   |   |
| Forgiveness                of debt by a related party                                                     |   | $      | 264,402 |    | $      | - |   |

----

----

----

| Deferred                tax assets       |   |   |       |   |
|------------------------------------------|--------|--------|------------|--------|
| Net                operating losses      |   | $      | 2,533,000  |   |
| Less:                valuation allowance |   |   | (2,533,000 | )      |
| Net                deferred tax asset    |   | $      | -          |   |

|                                            |   | Options |     | Weighted                average Exercise Price |   |
|-------------------------------------------------|--------|---------|----------|------------------------------------------------|--------|
| Outstanding                at December 31, 2003 |   |    | 300,000  |                                           | $      | .26 |   |
| Expired                                         |   |    | (200,000 | )                                              | $      | .27 |   |
| Outstanding                at December 31, 2004 |   |    | 100,000  |                                           | $      | .23 |   |
| Expired                                         |   |    | (100,000 | )                                              | $      | .23 |   |
| Outstanding                at December 31, 2005 |   |    | -        |                                           |   | - |   |

----

----