Management’s Report on Internal Control Over Financial Reporting  Management’s Report on Internal Control Over Financial Reporting The Company’s management is responsible for establishing and maintaining adequate internal control over financial  reporting. The Company’s internal control system was designed to provide reasonable assurance to the Company’s  management and board of directors regarding the preparation and fair presentation of published financial statements. All  internal control systems, no matter how well designed, have inherent limitations. Therefore, even those systems determined  to be effective can provide only reasonable assurance with respect to financial statement preparation and presentation.  Under the direction of the Company’s Chief Executive Officer and Principal Financial and Accounting Officer,  management has assessed the effectiveness of the Company’s internal control over financial reporting as of December 31,  2011 in accordance with the criteria established in Internal Control – Integrated Framework issued by the Committee of  Sponsoring Organizations of the Treadway Commission (“COSO”). Based on this assessment, management has concluded  that such internal control over financial reporting was effective as of December 31, 2011. This annual report does not include an attestation report of the Company’s independent registered public accounting  firm regarding internal control over financial reporting. Management’s report was not subject to attestation by the Company’s registered public accounting firm pursuant to the final rules of the Securities and Exchange Commission that permit the  Company to provide only management’s report in this annual report.  page 33