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Based on the recommendation from the audit committee ("Audit Committee") of the Company’s board of administrators (the "Board") as described below, on September 27, 2015, the Board, including all of its independent directors, accepted and established an estimated worth per share of the Company’s widespread inventory of $9.70 based mostly on an estimated market worth of the Company’s belongings less the estimated market value of the Company’s liabilities, divided by the variety of shares excellent, as of August 31, 2015. The corporate is offering this estimated value per share to assist broker-sellers that participated in the Company’s public providing in meeting their customer account assertion reporting obligations below National Association of Securities Dealers Conduct Rule 2340. The estimated worth per share will first appear on stockholder account statements for the month of September 2015. That is the primary time that the Board has determined an estimated worth per share of the Company’s widespread inventory.
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