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CROSS REFERENCE TO RELATED APPLICATIONS 
     This application claims priority on U.S. Provisional Application Ser. No. 62/175,512, filed on Jun. 15, 2015, the disclosures of which are incorporated herein by reference. 
    
    
     FIELD OF THE INVENTION 
     The present invention relates to a new and improved paneling system, and more particularly to a backing component that is usable for supporting trim pieces and wall panels in an easily installed modular arrangement. 
     BACKGROUND OF THE INVENTION 
     In both residential and commercial building construction, the walls of a below-grade foundation must be finished to form a living space or a business or workspace. Typically, for residential homes, the basement walls are formed from poured concrete, and sometimes from cinderblocks or concrete blocks that are cemented together. These concrete walls may first be waterproofed through the application of a sealant, and then must have a plurality of framing members attached over the concrete. The framing members may each be in the form of a wood stud, which may be conventional 2×4 studs, or may instead be 2×2 strips or even furring strips. Alternatively, the framing member may be a PVC stud. The framing members provide a gap to accommodate electrical wiring, any necessary plumbing, and thermal insulation. The size for the framing members used may affect the type and amount of insulation that can be used. 
     Conventional construction next requires that plasterboard (i.e., drywall) be fastened to the framing members on the walls, using drywall screws or nails, which is similarly done for the wall studs of a room for above-grade construction. The drywall fasteners driven in below the surface of the drywall, the joints between the sheets of the drywall (typically 4×8 sheets), and the joints at the corners of the room, will next be covered with one or more layers of a joint compound (“mud”). The joints will also require an application of one or more layers of tape or drywall mesh, before applying the joint compound, which serves to prevent cracks along the joint lines. The joint compound must later be sanded to be smooth with respect to the surface of the drywall. 
     The sanding process produces a significant amount of fine white power on the floor, which must be cleaned up, and produces airborne particulates, which constitute a serious health hazard, as the Centers for Disease Control maintains that prolonged exposure to the silica therein increases the risk of lung cancer, or may just cause breathing problems and may aggravate asthma. Therefore, it is strongly recommended that the person performing the work should wear a respiratory mask and goggles while sanding the drywall, and while vacuuming up the powder. 
     Once the mudded drywall joints and nail holes have been sanded smooth, the walls must be primed and painted. Prior to painting, the stud locations should be conveniently marked at the extremes of the wall, or on the floor, because the next step is to nail the base molding and crown molding thereto, which must be nailed to the framing members, as the drywall does not provide sufficient support. A chair rail molding may also be nailed to the framing members at the appropriate above-floor height, if desired. 
     This process is very labor intensive and time consuming, particularly because the layers of joint compound require a sufficient amount of time to dry before the sanding can occur, and because of the time required to clean up after the sanding is competed, which may need to be done one or more times. 
     The present invention greatly simplifies the process of constructing a finished interior surface, once the framing members are applied over the concrete wall, and eliminates the powder, the particulates, and the associated health hazards. The present invention furthermore permits ease of replacement, or the cleaning of a wall section, and provides easy access behind a wall section to fix or add electrical wiring, etc. 
     OBJECTS OF THE INVENTION 
     It is an object of the invention to provide a new and improved wall panel and molding arrangement to replace a conventional drywall installation and associated taping and mudding. 
     It is a further object of the invention to provide a new and improved wall panel and molding arrangement configured to replace nailed moldings. 
     It is another object of the invention to provide a new and improved wall panel and molding arrangement configured for ease of installation. 
     It is also an object of the invention to provide a new and improved wall panel and molding arrangement configured to provide ease of access behind the finished wall to permit repairs or installation of new wiring thereat. 
     It is another object of the invention to provide a new and improved wall panel and molding arrangement that is modular. 
     It is also an object of the invention to provide a new and improved wall panel and molding arrangement configured to replace an existing wall that had been finished with drywall. 
     Further objects and advantages of the invention will become apparent from the following description and claims, and from the accompanying drawings. 
     SUMMARY OF THE INVENTION 
     A modular panel system may broadly include a pair of specially formed receiver strips, base molding, crown, molding, and other types of molding as well, and a panel. The receiver strips may be respectively mounted at a selective upper and a selective lower location on the wall. Each receiver strip may broadly include an elongated base used to mount the strip to the wall, from which ma protrude a first flange and a second flange, with each of the flanges having a pair of apices particularly formed and located thereon. The first and second flanges of each receiver strip may protrude from the base along an entire length of the base, or may instead protrude intermittently from the base. 
     The crown molding and the base molding, as well as the other molding types utilized herein in conjunction with a receiver strip, may broadly include at least a bottom surface, a rear surface, and an inward facing ornate/sculpted surface, and a mating flange configured to cantilever away from the rear surface to a free end thereof. The mating flange of each molding broadly includes a pair of apices that are configured to be mated between the first and second flanges of the receiver strip, and be retained by the flange apices of the receiver strips. 
     The receiver strip may also serve to space the rear surface of the crown molding and base molding away from the wall/studs. The panel may then be inserted behind the rear surface of the crown molding, when mated with the receiver strip at the selective upper wall position, and may then dropped down behind the rear surface of the base molding, when mated with the receiver strip at the selective lower wall position. 
     The panel used may be a composite panel formed of: a three mm thick Magnesium Oxide board, a one mm thick PVC backing sheet, and a closed cell Polyisocyanurate foam sandwiched therebetween. Each of the receiver strips may be formed of a rigid polyvinylchloride material, and the base molding and crown molding may be formed of a celuka ppolyvinylchloride. 
    
    
     
       BRIEF DESCRIPTION OF THE DRAWINGS 
         FIG. 1  is a perspective view showing several below-grade concrete walls and a floor. 
         FIG. 2  shows the perspective view of  FIG. 2 , but after a plurality of framing members have been attached over the concrete walls to prepare to finish the interior space. 
         FIG. 3  is a front view of a receiver of the present invention. 
         FIG. 4  is a cross-sectional view through the receiver of  FIG. 3 . 
         FIG. 4A  is an enlarged detail view of the flanges of the receiver shown in the cross-sectional view of  FIG. 4 . 
         FIG. 5  shows the perspective view of  FIG. 2 , but after a plurality of the receiver strips of  FIG. 3  have been secured thereto to receive a base molding and a crown molding. 
         FIG. 6  shows the perspective view of  FIG. 5 , but after a plurality of the receiver strips of  FIG. 3  have been secured thereto to receive a chair rail molding. 
         FIG. 7  is a front view of a base molding in accordance with the present invention. 
         FIG. 7A  is a cross-sectional view of the base molding of  FIG. 7 . 
         FIG. 8  is a perspective view of a base molding formed to finish out an inside corner. 
         FIG. 9  is a front view of the base molding inside corner shown in  FIG. 8 . 
         FIG. 10  is a top view of the base molding inside corner shown in  FIG. 8 . 
         FIG. 11  is a cross-sectional view of a chair rail molding in accordance with the present invention. 
         FIG. 12  is a cross-sectional view of an alternate embodiment of the chair rail molding shown in  FIG. 11 . 
         FIG. 13  is a perspective view of a chair rail molding formed to finish out an inside corner. 
         FIG. 14  is a front view of the chair rail molding inside corner shown in  FIG. 13 . 
         FIG. 15  is a top view of the chair rail molding inside corner shown in  FIG. 13 . 
         FIG. 16  is a cross-sectional view of a casing molding in accordance with the present invention. 
         FIG. 17  is a cross-sectional view of an alternate embodiment of the casing molding shown in  FIG. 16 . 
         FIG. 18  is a cross-sectional view of a crown molding in accordance with the present invention. 
         FIG. 19  is a perspective view of a crown molding formed to finish out an inside corner. 
         FIG. 20  is a front view of the crown molding inside corner shown in  FIG. 19 . 
         FIG. 21  is a top view of the crown molding inside corner shown in  FIG. 19 . 
         FIG. 22  is a perspective view of an alternate embodiment of the crown molding inside corner of  FIG. 19 , having a reduced height. 
         FIG. 23  is a front view of the crown molding inside corner shown in  FIG. 22 . 
         FIG. 24  is a top view of the crown molding inside corner shown in  FIG. 22 . 
         FIG. 25  a cross-sectional view of a corner molding formed in accordance with the present invention. 
         FIG. 26  is a cross-sectional view of a window molding in accordance with the present invention. 
         FIG. 27  is a cross-sectional view of an alternate embodiment of the window molding of  FIG. 25 , having a reduced height. 
         FIG. 28  is a perspective view of a window molding formed to finish out an inside corner. 
         FIG. 29  is a top view of the window molding inside corner shown in  FIG. 28 . 
         FIG. 30  is a side view of the window molding inside corner shown in  FIG. 28 . 
         FIG. 31  is an end view of the window molding inside corner shown in  FIG. 28 . 
         FIG. 32  is a cross-sectional view through the framed concrete wall of  FIG. 5 , with receiver strips attached at suitable upper and lower locations, and with the upper receiver strip supporting one end of a drop ceiling panel. 
         FIG. 32A  is a cross-sectional view through the framed concrete wall of  FIG. 5 , with the receiver strips shown attached at a suitable upper and a lower location, just prior to respective engagement therewith by a section of crown molding and a section of base molding. 
         FIG. 33  is the cross-sectional view of  FIG. 32 , after the flanges of the crown molding and base molding have been inserted into the flanges of the respective receiver strips. 
         FIG. 33A  is an enlarged detail view of the engagement shown in  FIG. 33  between the flange of the crown molding and two respective apices of the flanges of the base. 
         FIG. 34  is the cross-sectional view of  FIG. 33 , showing a panel of the present invention with its upper end initially being inserted behind the crown molding. 
         FIG. 34A  is a side view of the panel of  FIG. 34 . 
         FIG. 34B  is a front view of the panel of  FIG. 34A . 
         FIG. 34C  is a perspective view of the composite panel of  FIG. 34 . 
         FIG. 35  is the cross-sectional view of  FIG. 34 , showing the upper end of the panel fully inserted behind the crown molding, and with the panel generally parallel with the wall and above the base molding. 
         FIG. 36  is the cross-sectional view of  FIG. 35 , after the panel has been lowered for its bottom portion to be nested behind the base molding. 
     
    
    
     DETAILED DESCRIPTION OF THE INVENTION 
     As used throughout this specification, the word “may” is used in a permissive sense (i.e., meaning having the potential to), rather than the mandatory sense (i.e., meaning must). Similarly, the words “include”, “including”, and “includes” mean including but not limited to. 
     The phrases “at least one”, “one or more”, and “and/or” are open-ended expressions that are both conjunctive and disjunctive in operation. For example, each of the expressions “at least one of A, B and C”, “one or more of A, B, and C”, and “A, B, and/or C” mean all of the following possible combinations: A alone; or B alone; or C alone; or A and B together; or A and C together; or B and C together; or A, B and C together. 
     Also, all references (e.g., patents, published patent applications, and non-patent, literature) that are cited within this documents are incorporated herein in their entirety by reference. 
     Furthermore, the described features, advantages, and characteristics of any particular embodiment disclosed in the following specification, may be combined in any suitable manner with any of the other embodiments disclosed herein. 
       FIG. 1  is a perspective view showing below-grade concrete walls  11 ,  12 , and  13 , and a sub-floor  10  of a building, upon which the owner desires to have a finished interior wall surface.  FIG. 2  illustrates the walls  11 ,  12 , and  13  of  FIG. 1 , after a plurality of framing members have been attached thereto, which may be conventional 2×4 studs, or may instead be 2×2 strips or even furring strips. Ordinarily, the building&#39;s owner would finish the wall through the labor intensive process of fastening plasterboard (i.e., drywall) to the studs using screws or nails, taping and mudding the joints, and mudding all of the fastener heads as well, and then sanding and priming and painting the unfinished drywall. The process is quite messy, as sanding of the mudded portions produces large quantities of dust, which must be cleaned, and the particulates from the sanding process may pose a serious health hazard as a result of inhalation and prolonged exposure. 
     The present invention is particularly adapted to eliminate the drawbacks of installing conventional drywall, and makes use of unique molding pieces and a panel, which may be supported by a receiver strip, in accordance with the following disclosure. 
     A first embodiment of a receiver strip  20  in accordance with the present invention is shown in  FIGS. 3-4 , and may be formed of various different materials, including but not limited to, a rigid PVC (polyvinylchloride). The receiver strip  20  may extend from a first end  21  to a second end  22 , and may be formed to include a base  23 , from which may protrude a first flange  24  and a second flange  25 . In the cross-sectional view of  FIG. 4 , the flanges  24  and  25  appear to be a pair of prongs, however, each of the flanges  24  and  25  may extend from the base  23  throughout the full length/extent of the strip  20  (i.e., the flanges may be as long as the base), or alternatively the flanges may extend from the base intermittently, or the flanges may extend from the base according to any other desired pattern/frequency, including being spaced at regular or irregular intervals. Merely to be exemplary, the flanges  24  and  25  are shown throughout the figures as extending the full length of the strip  20 , from first end  21  to second end  22 . 
     As seen in  FIG. 4 , each of the flanges  24  and  25  may protrude from the base  23  to a distance P, and each may have a pair of tapered surfaces formed thereon, which face each other. Flange  24  may have a tapered surface  24 A that may begin at the free end of the flange (i.e., at height P) and may be at an angle θ to increase the thickness of the flange. The tapered surface  24 A may transition into a second tapered surface  24 B, which may be at an angle α to taper back to the nominal thickness of the flange, and may thus form an apex  24 P. 
     The flange  25  may similarly have tapered surfaces  25 A and  25 B formed thereon to create an apex  25 P, and these surfaces may generally mirror the tapered surfaces of flange  24 . 
     The tapered surfaces  24 A and  25 A on flanges  24  and  25  may each preferably be at a fairly shallow angle, and the angle θ shown in  FIG. 4A  may be rough 15-20 degrees. The tapered surfaces  24 B and  25 B on flanges  24  and  25  may each preferably be at a steeper angle, and angle α may even be 90 degrees; however, in one embodiment tapered surfaces  24 B and  25 B may be oriented for angle α to be roughly 55 degrees, which may be sufficient to secure the moldings of the present invention thereto, while also permitting its removal with the application of a reasonable amount of force as discussed hereinafter. The interior surfaces  24 I and  25 I of the flanges  24  and  25  may be at a desired distance apart. Also, the tapered surfaces  24 A and  25 A on flanges  24  and  25  may have a length that in combination with the flange-to-flange distance produces a desired gap G between apex  24 P and apex  25 P, which is also discussed hereinafter. 
     As seen in  FIG. 5 , a receiver strip  20  may be secured to each of the upper and lower portions of walls  11 ,  12 , and  13 , at a select distance away from the ceiling and the subfloor  10 . In addition, as seen in  FIG. 6 , a receiver strip may also be secured to middle portions of walls  11 ,  12 , and  13 , if a chair rail molding s desired. If the panel system is to be used on only a single wall of a room, the upper and lower receiver strip  20  may each be cut to be substantially the same length as the wall, being slightly smaller to prevent the strip from being wedged between the adjacent walls. If, as seen in  FIG. 5 , the panel system is to be used on multiple walls of the room, which would entail paneling/finishing an inside corner, the upper and lower receiver strip  20  may each be cut to be slightly smaller than the length of the wall, and to accommodate the adjacent receiver strips  20  in a miter-type joint, the flanges  24 / 25  at its ends positioned at the inside corner may also be beveled at a 45 degree angle. Rather than forming a miter joint, the flanges  24 / 25  at the end of one of the receiver strips may be trimmed shorter than its base, to clear the flanges  24 / 25  of the adjacent receiver strip. 
     To be able to produce a finished interior wall, a specially configured molding is used with (i.e., joined to) the receiver strips  20 . These specially configured moldings are shown within  FIG. 7  through  FIG. 31 . 
       FIG. 7  shows a straight base molding  30  of the present invention.  FIGS. 8-10  show a base molding  40  formed to finish out an inside corner.  FIG. 11  and  FIG. 12  each show a straight chair rail molding ( 50  and  50 ′) in accordance with the present invention.  FIGS. 13-15  show a chair rail molding  50 A formed to finish out an inside corner.  FIGS. 16 and 17  each show a straight casing molding ( 60  and  60 ′) formed in accordance with the present invention, which may be used for doors.  FIG. 18  shows a straight crown molding  70  in accordance with the present invention.  FIGS. 19-21  show a crown molding  70 A formed to finish out an inside corner.  FIGS. 22-24  show another crown molding  70 B formed to finish out an inside corner, and having a reduced height.  FIG. 25  shows corner molding  80  in accordance with the present invention.  FIGS. 26-27  show a window molding  90  and  90 ′ in accordance with the present invention (note the pair of prongs shown therein may be used to receive a piece of 3 mm PVC to produce a finished look in basement window box).  FIGS. 28-31  show a window molding  90 A formed to finish out an inside corner. 
     The straight molding sections may be formed of various different materials, including but not limited to, a celuka PVC (Polyvinyl chloride). Also the corner moldings may similarly be formed of various different materials, including but not limited to, ABS plastic. 
     The base molding of  FIGS. 7-7A  is discussed in detail, and its flange feature is similarly found on the other moldings shown throughout the other figures. As seen in  FIGS. 7-7A , the base molding  30  may extend from a first end  31  to a second end  32 , and may have a top surface  33 , and a bottom surface  34 , which may generally be flat. The base molding  30  may also have a sculpted surface  35  which is intended to face inward into the room, and may be as ornately sculpted as desired, and which may also subsume the top surface, which may be curved. The base molding  30  may also have a substantially flat rear surface  36 , from which may protrude a flange  37  of width W, which should be the same as, or slightly smaller than, the gap G of the receiver strip  20 , because the flange  37  is configured to mate with the corresponding flanges  24  and  25  of the receiver strip. 
     The flange  37  may protrude to a length L, which may be the same as, or is more preferably slightly smaller than, the protruding distance P of the flanges  24 / 25  of the receiver strip  20 . The flange  37  may generally be straight, except that the flat top and bottom surfaces  37 T and  37 B may transition to surfaces  38 A and  39 A, which taper outwardly and may be configured to match the corresponding surfaces  24 B and  25 B of the receiver strip  20  (i.e., may be at roughly the same angle). The distance D between the start of the tapered surfaces  38 A/ 39 A and the surface  36  may be the same as the distance T for the tapered surfaces  24 A/ 25 A shown in  FIG. 4  for the receiver  20 . To ensure proper engagement between those surfaces, as seen in  FIG. 33A , the distance D may be slightly larger than the distance T. The surfaces  38 A and  39 A may each transition into a second pair of tapered surfaces  38 B and  39 B, which may be at an angle configured so that they taper towards each other, and may terminate in a radiused corner surface  37 C. Alternatively, the tapered surfaces  38 A and  39 A may transition directly into a curved surface  37 C′, as seen in  FIG. 12 . The distance W 2 , between the apex where surface  38 A meets surface  38 B and the apex where surface  39 A meets surface  39 B, should be the same as, or may preferably be slightly smaller than, the desired gap distance G 2  between the inside surfaces  24 I and  25 I of the flanges  24  and  25  of the receiver  20 . 
     It should be noted that the flange  37  and its associated features, when used on a molding formed to finish an inside corner (e.g.,  FIGS. 8-10 ,  FIGS. 13-15 , etc.), may protrude from both vertical members therein, and may terminate before reaching the corner, or may instead, as seen throughout the Figures herein, converge to form a right angle. 
       FIG. 32  shows a cross-sectional view through the framed concrete wall  11  of  FIG. 5 , with the receiver strips  20  shown attached at a suitable upper and a lower location. The receiver strips  20  may be secured to the framing members using, for example, framing screws, and may be located using a template, or by measuring to ensure being secured at the proper height.  FIG. 32A  shows the same cross-sectional view as in  FIG. 32 , but just prior to respective engagement therewith by a section of crown molding  70  and a section of base molding  20 . As may be seen therein, the flange  37  of each of the pieces of molding are configured to, be mated with the two flanges of the respective receiver  20 . The receiver strip  20  mounted at the upper location may be used to support the end of an adjacent drop ceiling panel. If a drop ceiling panel is not used with the molding and panels of the present invention, a portion of, or all of the upper flange of the base  23  of the receiver  20  may be scored and snapped off, so that the receiver strip may be properly positioned with respect to the ceiling. 
       FIG. 33  shows the cross-sectional of  FIG. 32 , after the respective flanges  37  of the sections of crown molding  70  and base molding  20  have been inserted into the flanges of the respective receiver strips. 
     At this point in the installation, the framing attached to the concrete walls are still not covered. However,  FIG. 34  is the same cross-sectional view of  FIG. 33 , but also shows a panel  100  of the present invention with its upper end  100 U initially being inserted behind the crown molding  70 . Different panel materials may be used, but in one embodiment the panel used for the present invention, as shown in detail  FIGS. 34A-34C , may be composite panel that may include a three mm thick Magnesium Oxide board  100 MB, a one mm PVC backing sheet  100 PV, and sandwiched therebetween may be a closed cell Polyisocyanurate foam  100 F, which may have a fire retardant built into it. The magnesium oxide board  100 MB may serve as sheathing, as a drywall replacement, and offers improved characteristics including fire, mold, and mildew resistance, and greater strength. These composite panels may be cut as required using a skill saw or jig saw with a downward blade. 
     To ensure that the top corner of the panel  100  does not get caught by, or hung up on, the corner of the base  23  of receiver  20 , the top of the panel may be radiused or chamfered, and/or the lower corner of the base  23  of receiver  20  may also taper down to a substantially small thickness (i.e., 0.010 inches) or may even taper down into a “knife edge.” 
       FIG. 35  shows the upper end  100 U of the panel  100  fully inserted behind the crown molding  70 , and with the panel generally parallel with the wall  11  and with its lower end  100 L positioned above the base molding  30 . 
       FIG. 36  shows the panel  100  after it has been lowered, for its bottom portion  100 L to be nested behind the base molding  30  in contact with the upper flange of the receiver strip  20 , to produce the finished wall section. 
     For the panel  100  to be able to cover the exposed wall  11 , the height H of the panel should be greater than the opening V between the bottom of the crown molding  70  and the top of the base molding  30 , as shown in  FIG. 36 . Also, to be able to slide the bottom  100 L of panel  100  over the top of the base molding  30 , as seen in  FIGS. 35 and 36 , the height H of the panel  100  should be smaller than the distance V 1  between the top of the base molding  30  and the bottom-most flange of the receiver strip  20  mounted at the upper wall location, and also, the distance V 3  from the bottom of the crown molding  70  to the lower flange of the upper receiver strip  20  should be greater than the distance V 2  between top of the base molding  30  and the upper flange of the lower receiver strip  20  (i.e., V 3 &gt;V 2 ). 
     Multiple panel sections may be needed to laterally cover the full extent of a wall, and any vertically oriented panel-to-panel joint may be concealed using a floor-to-ceiling trim piece that may be secured to one or both of the panels at the joint using for example, but not limited to, adhesive, nails, screws, etc. 
     Where a chair rail molding is utilized, two separate panels would similarly be installed to complete the finished wall. Typical panel sizes would be a 64″×48″ top panel and a 32″×48″ bottom panel. The receiver strip  20  for the chair rail may thus be appropriately positioned to accommodate those standard panel sizes. 
     The disclosed arrangement permits easy access behind the wall panels, if necessary to effect repairs to electrical wiring, or to add wiring, etc., simply by removing the panel in a reverse manner (i.e., by raising the panel  100 , by angling its lower end  100 L outwardly, and by next removing the upper end of the panel  100 U from behind the crown molding  70 ). The moldings may also be readily removed, if necessary, particularly where a non-ninety-degree angle is used for the surfaces  24 B and  25 B on the receiver strips  20 , which may help facilitate the outward deflection of the flanges  24  and  25  needed to dislodge the flange  37 . 
     It should also be noted that the disclosed arrangement may similarly be utilized for the above-grade finishing of a framed room, rather than using drywall. 
     Additionally, in an alternate embodiment, the receiver strips  20  may be mounted directly to a concrete wall without any wood framing, using concrete nails. In this embodiment, the PVC backing  100 PV of the panel  100 , being a strong but light-weight plastic, may be suitably positioned to face the rough concrete. 
     The examples and descriptions provided merely illustrate a preferred embodiment of the present invention. Those skilled in the art and having the benefit of the present disclosure will appreciate that further embodiments may be implemented with various changes within the scope of the present invention. Other modifications, substitutions, omissions and changes may be made in the design, size, materials used or proportions, operating conditions, assembly sequence, or arrangement or positioning of elements and members of the preferred embodiment without departing from the spirit of this invention.

Summary:
A modular wall panel system includes a pair of specially formed receiver strips, base and crown moldings, and a panel. The receiver strips are respectively mounted at selective upper and lower all locations. Each receiver strip has an elongated base for mounting to the wall, and first and second flanges protruding therefrom, with each flange having a pair of apices particularly formed and located thereon. The crown and base moldings have bottom and rear surfaces, an inward facing ornate/sculpted surface, and a mating flange configured to cantilever away from the rear surface. The mating flange includes a pair of apices that are configured to be mated between the first and second flanges of the receiver strip, and be retained by its flange apices. The receiver strip also spaces the rear surface of the moldings away from the wall/studs, for the panel to be inserted behind the rear surface of each.