| x | Quarterly Report under Section 13 or 15(d) of the Securities Exchange Act of 1934 |
|---|-----------------------------------------------------------------------------------|

|  ̈ | Transition Report under Section 13 or 15(d) of the Exchange Act for the Transition Period from ________ to ___________ |
|--------|------------------------------------------------------------------------------------------------------------------------|

| Delaware                                                                       |         | 20-5572680                                     |
|--------------------------------------------------------------------------------|--------------|-----------------------------------------------------|
| (State or other jurisdiction of incorporation or |         | (I.R.S. Employer Identification No.) |
| organization)                                                                  |    |                                                |

| Large accelerated filer |  ̈ | Accelerated filer              |  ̈ |
|-----------------------------------|--------|-------------------------------------|--------|
|                              |   |                                |   |
| Non-accelerated filer        |  ̈ | Smaller reporting company | x      |

----

|       |                                                        |                                                                                                                              | Page  |
|------------|-------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------|------------|
| PART I     | FINANCIAL INFORMATION                                       |                                                                                                                              |       |
|       |                                                        |                                                                                                                              |       |
| Item 1.    | Financial Statements (Unaudited)                            |                                                                                                                              |       |
|       |                                                        |                                                                                                                              |       |
|       | Condensed Consolidated Balance Sheets                       |                                                                                                                              |       |
|       |                                                        | June 30, 2011 (Unaudited) and December 31, 2010                                                                                   |       | 3 |
|       |                                                        |                                                                                                                              |       |   |
|       | Condensed Consolidated Statements of Operations             |                                                                                                                              |       |
|       |                                                        | For the Three and Six Months Ended June 30, 2011 and 2010 and for the period from September 13, 2006 (Inception) to June 30, 2011 |       | 4 |
|       |                                                        |                                                                                                                              |       |   |
|       | Condensed Consolidated Statements of Cash Flows             |                                                                                                                              |       |
|       |                                                        | For the Six Months Ended June 30, 2011 and 2010 and for the period from September 13, 2006 (Inception) to June 30, 2011           |       | 5 |
|       |                                                        |                                                                                                                              |       |   |
|       | Notes to Condensed Consolidated Financial Statements        |                                                                                                                              | 6          |
|       |                                                        |                                                                                                                              |       |
| Item 2.    | Management's Discussion and Analysis and Plan of Operation  |                                                                                                                              | 11         |
|       |                                                        |                                                                                                                              |       |
| Item 3.    | Quantitative and Qualitative Disclosures About Market Risk  |                                                                                                                              | 13         |
|       |                                                        |                                                                                                                              |       |
| Item 4.    | Controls and Procedures                                     |                                                                                                                              | 13         |
|       |                                                        |                                                                                                                              |       |
| PART II    | OTHER INFORMATION                                           |                                                                                                                              |       |
|       |                                                        |                                                                                                                              |       |
| Item 1.    | Legal Proceedings                                           |                                                                                                                              | 13         |
|       |                                                        |                                                                                                                              |       |
| Item 2.    | Unregistered Sales of Equity Securities and Use of Proceeds |                                                                                                                              | 13         |
|       |                                                        |                                                                                                                              |       |
| Item 3.    | Defaults upon Senior Securities                             |                                                                                                                              | 13         |
|       |                                                        |                                                                                                                              |       |
| Item 4.    | Submission of Matters to a Vote of Security Holders         |                                                                                                                              | 13         |
|       |                                                        |                                                                                                                              |       |
| Item 5.    | Other Information                                           |                                                                                                                              | 13         |
|       |                                                        |                                                                                                                              |       |
| Item 6.    | Exhibits                                                    |                                                                                                                              | 13         |
|       |                                                        |                                                                                                                              |       |
| Signatures |                                                        | 14                                                                                                                                |

----

|                                                                                                                       |   | June 30,2011 |     |   | December31, 2010 |   |
|----------------------------------------------------------------------------------------------------------------------------|--------|-------------------|----------|--------|-----------------------|--------|
| ASSETS                                                                                                                     |   |              |     |   |                  |   |
|                                                                                                                       |   |              |     |   |                  |   |
| Cash                                                                                                                       |   | $                 | 97       |   |                  | $      | 1,507 |   |
|                                                                                                                       |   |              |     |   |                  |   |   |   |
| Accounts Receivable                                                                                                        |   |              | 5,000    |   |                  |   | - |   |
|                                                                                                                       |   |              |     |   |                  |   |   |   |
| Due from related party                                                                                                     |   |              | 17,893   |   |                  |   | 15,354 |   |
|                                                                                                                       |   |              |     |   |                  |   |   |   |
| Other Current Assets                                                                                                       |   |              | 20,026   |   |                  |   | 218 |   |
|                                                                                                                       |   |              |     |   |                  |   |   |   |
| Total current assets                                                                                                       |   |              | 43,016   |   |                  |   | 17,079 |   |
|                                                                                                                       |   |              |     |   |                  |   |   |   |
| Property and Equipment, net                                                                                                |   |              | 4,532    |   |                  |   | 4,985 |   |
|                                                                                                                       |   |              |     |   |                  |   |   |   |
| Intangible Assets, net                                                                                                     |   |              | 10,240   |   |                  |   | - |   |
|                                                                                                                       |   |              |     |   |                  |   |   |   |
| Deposits, long-term                                                                                                        |   |              | 490      |   |                  |   | 2,170 |   |
|                                                                                                                       |   |              |     |   |                  |   |   |   |
| TOTAL ASSETS                                                                                                               |   | $                 | 58,278   |   |                  | $      | 24,234 |   |
|                                                                                                                       |   |              |     |   |                  |   |   |   |
| LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)                                                                       |   |              |     |   |                  |   |   |   |
|                                                                                                                       |   |              |     |   |                  |   |   |   |
| Accounts Payable                                                                                                           |   | $                 | 78,012   |   |                  | $      | 6,593 |   |
|                                                                                                                       |   |              |     |   |                  |   |   |   |
| Due To Related Party                                                                                                       |   |              | 141,002  |   |                  |   | 25,000 |   |
|                                                                                                                       |   |              |     |   |                  |   |   |   |
| Accrued Expenses                                                                                                           |   |              | 64,774   |   |                  |   | 22,702 |   |
|                                                                                                                       |   |              |     |   |                  |   |   |   |
| TOTAL LIABILITIES                                                                                                          |   |              | 283,788  |   |                  |   | 54,295 |   |
|                                                                                                                       |   |              |     |   |                  |   |   |   |
| STOCKHOLDERS’ EQUITY (DEFICIT)                                                                                       |   |              |     |   |                  |   |   |   |
|                                                                                                                       |   |              |     |   |                  |   |   |   |
| Preferred stock, par value $0.0001 per share Authorized – 20,000,000 shares, none issued and outstanding             |   |              | -        |   |                  |   | - |   |
|                                                                                                                       |   |              |     |   |                  |   |   |   |
| Common stock, par value $0.0001 per share Authorized – 100,000,000 shares, Issued and outstanding – 15,085,300 |   |              | 1,508    |   |                  |   | 1,508 |   |
|                                                                                                                       |   |              |     |   |                  |   |   |   |
| Additional paid-in capital                                                                                                 |   |              | 193,393  |   |                  |   | 185,460 |   |
|                                                                                                                       |   |              |     |   |                  |   |   |   |
| Deficit accumulated during development stage                                                                               |   |              | (420,411 | )      |                  |   | (217,029 | ) |
|                                                                                                                       |   |              |     |   |                  |   |   |   |
| TOTAL STOCKHOLDERS’ EQUITY (DEFICIT)                                                                                 |   |              | (225,510 | )      |                  |   | (30,061 | ) |
|                                                                                                                       |   |              |     |   |                  |   |   |   |
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)                                                                 |   | $                 | 58,278   |   |                  | $      | 24,234 |   |

----

|                                                             |   | For the ThreeMonthsEnded June30, 2011 |       |   | For the ThreeMonthsEnded June30, 2010 |   |      | For the SixMonthsEnded June30, 2011 |   |   | For the SixMonthsEnded June30, 2010 |   |   | For theperiod fromSeptember13, 2006(Inception) toJune 30,2011 |      |
|------------------------------------------------------------------|--------|---------------------------------------|------------|--------|---------------------------------------|--------|-----------|-------------------------------------|--------|--------|-------------------------------------|--------|--------|---------------------------------------------------------------|-----------|
|                                                             |   |                                  |       |   |                                  |   |      |                                |   |   |                                |   |   |                                                          |      |
| REVENUE                                                          |   | $                                     | 5,000      |   |                                  | $      | -         |                                |   | $      | 5,000                               |   |   | $                                                             | -         |   |   | $ | 5,000 |   |
|                                                             |   |                                  |       |   |                                  |   |      |                                |   |   |                                |   |   |                                                          |      |   |   |   |   |   |
| EXPENSES                                                         |   |                                  |       |   |                                  |   |      |                                |   |   |                                |   |   |                                                          |      |   |   |   |   |   |
|                                                             |   |                                  |       |   |                                  |   |      |                                |   |   |                                |   |   |                                                          |      |   |   |   |   |   |
| Salaries and Wages                                               |   |                                  | 11,899     |   |                                  |   | -         |                                |   |   | 76,040                              |   |   |                                                          | -         |   |   |   | 204,614 |   |
|                                                             |   |                                  |       |   |                                  |   |      |                                |   |   |                                |   |   |                                                          |      |   |   |   |   |   |
| Rent                                                             |   |                                  | 1,524      |   |                                  |   | 4,750     |                                |   |   | 6,264                               |   |   |                                                          | 4,750     |   |   |   | 39,514 |   |
|                                                             |   |                                  |       |   |                                  |   |      |                                |   |   |                                |   |   |                                                          |      |   |   |   |   |   |
| Legal and Professional Fees                                      |   |                                  | 34,777     |   |                                  |   | 698       |                                |   |   | 65,852                              |   |   |                                                          | 698       |   |   |   | 80,418 |   |
|                                                             |   |                                  |       |   |                                  |   |      |                                |   |   |                                |   |   |                                                          |      |   |   |   |   |   |
| Other Expenses                                                   |   |                                  | 31,596     |   |                                  |   | 16,256    |                                |   |   | 60,662                              |   |   |                                                          | 16,256    |   |   |   | 116,121 |   |
|                                                             |   |                                  |       |   |                                  |   |      |                                |   |   |                                |   |   |                                                          |      |   |   |   |   |   |
| Total Expenses                                                   |   |                                  | 79,796     |   |                                  |   | 21,704    |                                |   |   | 208,818                             |   |   |                                                          | 21,704    |   |   |   | 440,667 |   |
|                                                             |   |                                  |       |   |                                  |   |      |                                |   |   |                                |   |   |                                                          |      |   |   |   |   |   |
| OTHER INCOME AND EXPENSE                                         |   |                                  |       |   |                                  |   |      |                                |   |   |                                |   |   |                                                          |      |   |   |   |   |   |
|                                                             |   |                                  |       |   |                                  |   |      |                                |   |   |                                |   |   |                                                          |      |   |   |   |   |   |
| Sub-lease Income                                                 |   |                                  | -          |   |                                  |   | -         |                                |   |   | 436                                 |   |   |                                                          | -         |   |   |   | 16,056 |   |
|                                                             |   |                                  |       |   |                                  |   |      |                                |   |   |                                |   |   |                                                          |      |   |   |   |   |   |
| LOSS BEFORE INCOME TAXES                                         |   |                                  | (74,796    | )      |                                  |   | (21,704   | )                                   |   |   | (203,382                            | )      |   |                                                          | (21,704   | ) |   |   | (419,611 | ) |
|                                                             |   |                                  |       |   |                                  |   |      |                                |   |   |                                |   |   |                                                          |      |   |   |   |   |   |
| Income Tax Expense                                               |   |                                  | -          |   |                                  |   | -         |                                |   |   | -                                   |   |   |                                                          | -         |   |   |   | 800 |   |
|                                                             |   |                                  |       |   |                                  |   |      |                                |   |   |                                |   |   |                                                          |      |   |   |   |   |   |
| NET LOSS                                                         |   | $                                     | (74,796    | )      |                                  | $      | (21,704   | )                                   |   | $      | (203,382                            | )      |   | $                                                             | (21,704   | ) |   | $ | (420,411 | ) |
|                                                             |   |                                  |       |   |                                  |   |      |                                |   |   |                                |   |   |                                                          |      |   |   |   |   |   |
| Basic and diluted loss per share                                 |   | $                                     | (0.00      | )      |                                  | $      | (0.00     | )                                   |   | $      | (0.01                               | )      |   | $                                                             | (0.00     | ) |   |   |   |   |
|                                                             |   |                                  |       |   |                                  |   |      |                                |   |   |                                |   |   |                                                          |      |   |   |   |   |   |
| Weighted average number of shares outstanding, basic and diluted |   |                                  | 15,085,300 |   |                                  |   | 8,234,009 |                                |   |   | 15,083,946                          |   |   |                                                          | 4,642,015 |   |   |   |   |   |

----

|                                                                       |   | For the SixMonthsEnded June30, 2011 |          |   | For the SixMonthsEnded June30, 2010 |   |          | For the periodfromSeptember13, 2006(Inception) toJune 30,2011 |   |
|----------------------------------------------------------------------------|--------|---------------------------------------------------------|---------------|--------|---------------------------------------------------------|--------|---------------|----------------------------------------------------------------------------------------|--------|
|                                                                       |   |                                                    |          |   |                                                    |   |          |                                                                                   |   |
| CASH FLOWS FROM OPERATING ACTIVITIES:                                      |   |                                                    |          |   |                                                    |   |          |                                                                                   |   |
|                                                                       |   |                                                    |          |   |                                                    |   |          |                                                                                   |   |
| Net (Loss)                                                                 |   | $                                                       | (203,382      | )      |                                                    | $      |  (21,704 | )                                                                                      |   | $ |  (420,411 | ) |
|                                                                       |   |                                                    |          |   |                                                    |   |          |                                                                                   |   |   |   |   |
| Adjustment to reconcile net loss to net cash used by operating activities: |   |                                                    |          |   |                                                    |   |          |                                                                                   |   |   |   |   |
|                                                                       |   |                                                    |          |   |                                                    |   |          |                                                                                   |   |   |   |   |
| Depreciation                                                               |   |                                                    | 951           |   |                                                    |   | -             |                                                                                   |   |   | 1,364 |   |
|                                                                       |   |                                                    |          |   |                                                    |   |          |                                                                                   |   |   |   |   |
| Amortization                                                               |   |                                                    | 2,260         |   |                                                    |   | -             |                                                                                   |   |   | 2,260 |   |
|                                                                       |   |                                                    |          |   |                                                    |   |          |                                                                                   |   |   |   |   |
| Stock issued for rent                                                      |   |                                                    | -             |   |                                                    |   | -             |                                                                                   |   |   | 19,000 |   |
|                                                                       |   |                                                    |          |   |                                                    |   |          |                                                                                   |   |   |   |   |
| Contributed organizational expenses                                        |   |                                                    | -             |   |                                                    |   | -             |                                                                                   |   |   | 650 |   |
|                                                                       |   |                                                    |          |   |                                                    |   |          |                                                                                   |   |   |   |   |
| Fair value of professional fees                                            |   |                                                    | -             |   |                                                    |   | -             |                                                                                   |   |   | 1,667 |   |
|                                                                       |   |                                                    |          |   |                                                    |   |          |                                                                                   |   |   |   |   |
| Changes in operating assets and liabilities:                               |   |                                                    |          |   |                                                    |   |          |                                                                                   |   |   |   |   |
|                                                                       |   |                                                    |          |   |                                                    |   |          |                                                                                   |   |   |   |   |
| Accounts Receivable                                                        |   |                                                    | (5,000        | )      |                                                    |   | -             |                                                                                   |   |   | (5,000 | ) |
|                                                                       |   |                                                    |          |   |                                                    |   |          |                                                                                   |   |   |   |   |
| Due from  related party                                          |   |                                                    | (2,539        | )      |                                                    |   | (3,133        | )                                                                                      |   |   | (17,893 | ) |
|                                                                       |   |                                                    |          |   |                                                    |   |          |                                                                                   |   |   |   |   |
| Other Current Assets                                                       |   |                                                    | (19,808       | )      |                                                    |   | (200          | )                                                                                      |   |   | (20,026 | ) |
|                                                                       |   |                                                    |          |   |                                                    |   |          |                                                                                   |   |   |   |   |
| Deposits                                                                   |   |                                                    | 1,680         |   |                                                    |   | 21,000        |                                                                                   |   |   | (490 | ) |
|                                                                       |   |                                                    |          |   |                                                    |   |          |                                                                                   |   |   |   |   |
| Accounts Payable                                                           |   |                                                    | 71,419        |   |                                                    |   | -             |                                                                                   |   |   | 78,012 |   |
|                                                                       |   |                                                    |          |   |                                                    |   |          |                                                                                   |   |   |   |   |
| Accrued Expenses                                                           |   |                                                    | 42,072        |   |                                                    |   | 3,358         |                                                                                   |   |   | 64,774 |   |
|                                                                       |   |                                                    |          |   |                                                    |   |          |                                                                                   |   |   |   |   |
| NET CASH USED IN OPERATING ACTIVITIES                                      |   |                                                    | (112,347      | )      |                                                    |   | (679          | )                                                                                      |   |   | (296,093 | ) |
|                                                                       |   |                                                    |          |   |                                                    |   |          |                                                                                   |   |   |   |   |
| CASH FLOWS FROM INVESTING ACTIVITIES:                                      |   |                                                    |          |   |                                                    |   |          |                                                                                   |   |   |   |   |
|                                                                       |   |                                                    |          |   |                                                    |   |          |                                                                                   |   |   |   |   |
| Purchase of Property and Equipment                                         |   |                                                    | (498          | )      |                                                    |   | (600          | )                                                                                      |   |   | (5,896 | ) |
|                                                                       |   |                                                    |          |   |                                                    |   |          |                                                                                   |   |   |   |   |
| Acquisition of Anthus, LLC                                                 |   |                                                    | (4,567        | )      |                                                    |   | -             |                                                                                   |   |   | (4,567 | ) |
|                                                                       |   |                                                    |          |   |                                                    |   |          |                                                                                   |   |   |   |   |
| NET CASH USED IN INVESTING ACTIVITIES                                      |   |                                                    | (5,065        | )      |                                                    |   | (600          | )                                                                                      |   |   | (10,463 | ) |
|                                                                       |   |                                                    |          |   |                                                    |   |          |                                                                                   |   |   |   |   |
| CASH FLOWS FROM FINANCING ACTIVITIES:                                      |   |                                                    |          |   |                                                    |   |          |                                                                                   |   |   |   |   |
|                                                                       |   |                                                    |          |   |                                                    |   |          |                                                                                   |   |   |   |   |
| Proceeds from issuance of common stock                                     |   |                                                    | -             |   |                                                    |   | 1,290         |                                                                                   |   |   | 165,726 |   |
|                                                                       |   |                                                    |          |   |                                                    |   |          |                                                                                   |   |   |   |   |
| Redemption of common stock                                                 |   |                                                    | -             |   |                                                    |   | (75           | )                                                                                      |   |   | (75 | ) |
|                                                                       |   |                                                    |          |   |                                                    |   |          |                                                                                   |   |   |   |   |
| Proceeds from related party note                                           |   |                                                    | 116,002       |   |                                                    |   | -             |                                                                                   |   |   | 141,002 |   |
|                                                                       |   |                                                    |          |   |                                                    |   |          |                                                                                   |   |   |   |   |
| NET CASH PROVIDED BY FINANCING ACTIVITIES                                  |   |                                                    |  116,002 |   |                                                    |   | 1,215         |                                                                                   |   |   | 306,653 |   |
|                                                                       |   |                                                    |          |   |                                                    |   |          |                                                                                   |   |   |   |   |
| INCREASE IN CASH AND CASH EQUIVALENTS                                      |   |                                                    | (1,410        | )      |                                                    |   | (64           | )                                                                                      |   |   | 97 |   |
|                                                                       |   |                                                    |          |   |                                                    |   |          |                                                                                   |   |   |   |   |
| CASH AND CASH  EQUIVALENTS - BEGINNING OF PERIOD                 |   |                                                    | 1,507         |   |                                                    |   | 500           |                                                                                   |   |   | - |   |
|                                                                       |   |                                                    |          |   |                                                    |   |          |                                                                                   |   |   |   |   |
| CASH AND CASH EQUIVALENTS - END OF PERIOD                                  |   | $                                                       | 97            |   |                                                    | $      | 436           |                                                                                   |   | $ | 97 |   |
|                                                                       |   |                                                    |          |   |                                                    |   |          |                                                                                   |   |   |   |   |
| NON-CASH INVESTING AND FINANCING ACTIVITIES                                |   |                                                    |          |   |                                                    |   |          |                                                                                   |   |   |   |   |
|                                                                       |   |                                                    |          |   |                                                    |   |          |                                                                                   |   |   |   |   |
| Common stock issued for license agreement                                  |   | $                                                       | 12,500        |   |                                                    | $      | -             |                                                                                   |   | $ | 12,500 |   |
|                                                                       |   |                                                    |          |   |                                                    |   |          |                                                                                   |   |   |   |   |
| Cash Paid For:                                                             |   |                                                    |          |   |                                                    |   |          |                                                                                   |   |   |   |   |
|                                                                       |   |                                                    |          |   |                                                    |   |          |                                                                                   |   |   |   |   |
| Interest                                                                   |   |                                                    | -             |   |                                                    |   | -             |                                                                                   |   |   | - |   |
|                                                                       |   |                                                    |          |   |                                                    |   |          |                                                                                   |   |   |   |   |
| Income Taxes                                                               |   |                                                    | -             |   |                                                    |   | -             |                                                                                   |   |   | - |   |

----

----

----

| Menache, LLC              |   |   | 60 | % |
|---------------------------|--------|--------|----|---|
| Adelman Enterprises, Inc. |   |   | 40 | % |

----

----

| Alberto Menache:  | 3 votes |
|------------------------|--------------|
| Daniel Striepeke: | 1 vote  |
| Randy Smith:      | 1 vote  |
| Charles Adelman:  | 1 vote  |
| Douglas Ridley:   | 1 vote  |

----

| ITEM 2. | MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION |
|---------|-----------------------------------------------------------|

----

----

| ITEM 3. | QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK |
|---------|------------------------------------------------------------|

| ITEM 4.  | CONTROLS AND PROCEDURES |
|--------------------|-------------------------|

| ITEM 1. | LEGAL PROCEEDINGS                   None. |
|--------------|------------------------------------------------------------------------------------------------------------------------------------------|

| ITEM 2. | CHANGES IN SECURITIESAND USE OF PROCEEDS                       None. |
|--------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ITEM 3. | DEFAULTS UPON SENIOR SECURITIES                       None. |
|--------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ITEM 4. | SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS                       None. |
|--------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ITEM 5. | OTHER INFORMATION                       None. |
|--------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ITEM 6.  | EXHIBITS |
|--------------------|----------|

|   | 10.1  | Third Amendment to Limited Liability Company Agreement of Menache Adelman, LLC. |
|--------|------------|---------------------------------------------------------------------------------|

|   | 10.2 | Third Amendment to Joint Venture Agreement between Adelman Enterprises, Inc. and Menache, LLC. |
|--------|------|------------------------------------------------------------------------------------------------|

|   | 31.1 | Certification of CEO & CFO Pursuant to Securities  Exchange Act Rules 13a-14 and 15d-14, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 32.1 | Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. |
|--------|------|-------------------------------------------------------------------------------------------------------------------------|

----

|                   | ADELMAN ENTERPRISES, INC.             |
|------------------------|---------------------------------------|
|                   |  (Registrant)                    |
|                   |                                  |
| Dated: August 22, 2011 |                             |
|                   | Charles Adelman,                      |
|                   | President and Chief Executive Officer |

----