Integrated Disclosure System
for Small Business Issuers
Regulation S-B
Item 504 -- Use of Proceeds
State how the net proceeds of the offering will be used, indicating the
amount to be used for each purpose and the priority of each purpose, if
all of the securities are not sold. If all or a substantial part of the
proceeds are not allocated for a specific purpose, so state and discuss
the principal reasons for the offering.
Instructions to Item 504:
If a material amount of proceeds will discharge
debt, state the interest rate and maturity. If that debt was incurred within
one year, describe the use of the proceeds of that debt other than short-term
borrowings used for working capital.
If any material amount of the proceeds is
to be used to acquire assets or finance the acquisitions of other businesses,
describe the assets or businesses and identify the persons from whom they
will be bought. State the cost of the assets and, where such assets are
to be acquired from affiliates of the small business issuer or their associates,
give the names of the persons from whom they are to be acquired and set
forth the principle followed in determining the cost to the small business
issuer.
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