Exhibit 99.4
AMENDMENT TO THE SCHEDULES AND THE LEASES
AMENDMENT TO THE SCHEDULES AND THE LEASES (this "Amendment"), dated as of
October 29, 2002, among Interstate FiberNet, Inc., as a lessee ("FiberNet"), and
ITC/\ DeltaCom Communications, Inc., as a lessee ("Communications"; FiberNet and
Communications individually a "Lessee" and collectively the "Lessees"), NTFC
Capital Corporation ("NTFC") and General Electric Capital Corporation ("GECC";
NTFC and GECC individually a "Lessor" and collectively the "Lessors").
PRELIMINARY STATEMENTS:
(a) Lessees and NTFC have entered into a Master Lease Agreement dated
December 29, 2000 (as heretofore amended, supplemented or otherwise modified,
and including the NTFC Lease Schedules (as hereinafter defined) and the other
schedules and attachments thereto, the "NTFC Lease"). Capitalized terms not
otherwise defined in this Amendment have the same meanings as specified in the
NTFC Lease or in the GECC Lease (as hereinafter defined), as applicable.
(b) Communications and NTFC have entered into Equipment Schedule No. 1
dated December 29, 2000 (as amended as of October 29, 2002), Equipment Schedule
No. 3 dated April 6, 2001, and Equipment Schedule No. 8 dated December 21, 2001,
and FiberNet and NTFC have entered into Equipment Schedule No. 2 dated December
29, 2000, Equipment Schedule No. 4 dated April 6, 2001, Equipment Schedule No. 5
dated September 28, 2001, Equipment Schedule No. 6 dated September 28, 2001, and
Equipment Schedule No. 7 dated December 21, 2001 (individually a "NTFC Lease
Schedule" and collectively, the "NTFC Lease Schedules").
(c) GECC and Communications have entered into a Master Lease Agreement
dated December 31, 2001 (as heretofore amended, supplemented or otherwise
modified, and including the GECC Lease Schedule (as hereinafter defined) and the
other schedules and attachments thereto, the "GECC Lease"; the GECC Lease and
the NTFC Lease, individually a "Lease" and collectively the "Leases").
(d) GECC and Communications have entered into an Equipment Schedule dated
December 31, 2001 (as heretofore amended, supplemented or otherwise modified,
the "GECC Lease Schedule"; the GECC Lease Schedule and the NTFC Lease Schedules,
individually a "Schedule" and collectively the "Schedules").
(e) Lessees and Lessors have agreed to amend the Schedules and the Leases
for the purposes of postponing a portion of the Rent that would otherwise become
due and payable during calendar year 2003 in an aggregate amount equal to nine
million nine hundred nineteen thousand seven hundred and one dollars
($9,919,701) of Rent, amending certain covenants imposed on the Lessees, and for
the other purposes set forth below.
(f) Lessees and Lessors have entered into a Forbearance Agreement dated as
of September 13, 2002 (the "Forbearance Agreement").
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(g) On June 25, 2002, ITC/\ DeltaCom, Inc. (the "Parent") filed a voluntary
petition of bankruptcy relief under chapter 11 of title 11 of the United States
Code, as amended, with the United States Bankruptcy Court for the District of
Delaware (the "Bankruptcy Court").
(h) On October 17, 2002, the Bankruptcy Court confirmed that Xxxxxx's plan
of reorganization dated October 15, 2002, and a final order confirming such plan
of reorganization was entered by the Clerk of the Bankruptcy Court on October
17, 2002 (such plan of reorganization as so confirmed, the "Plan").
SECTION 1. Amendments.
(a) Amendments Concerning the Payment of Rent. Effective as of the
Effective Date (as hereinafter defined), the Schedules and the Leases are hereby
amended as follows:
(i) A portion of the Rent (as such term is used in the Leases and
Schedules) shall be deferred during calendar year 2003 in the amount set
forth in Exhibits 1(a) and 1(b) hereto (Exhibit 1(a) specifying an
aggregate amount of Rent with respect to all of the Leases and Schedules
that shall be deferred with respect to each monthly period identified
therein (the "Deferred Rent") and Exhibit 1(b) specifying the amount of
Rent with respect to each individual Lease and Schedule that shall be
deferred with respect to each monthly period identified therein). The
aggregate amount of all Deferred Rent is nine million nine hundred nineteen
thousand seven hundred and one dollars ($9,919,701), the payment of which
amount shall be rescheduled as set forth herein. The payment of Rent in
respect of the Schedules and the Leases (including, without limitation, the
Deferred Rent) shall be rescheduled for payment on the dates, and in the
amounts, set forth on Exhibit 2, and in each such case the Lessees shall be
responsible for payment of such amounts on such dates.
(ii) Notwithstanding the provisions of clause (i) above and in
addition thereto, on the later of the Effective Date or three (3) business
days after the earlier of the applicable Lessee's receipt of funds (in the
case of clause (A) below) or payment after the occurrence of an "Event" (in
the case of clause (B) below), such Lessee shall pay to Lessors the
following amounts (up to an aggregate of six million dollars ($6,000,000)
for all such amounts):
(A) 25% of the Net Advance Payments received by such Lessee under
indefeasible right to use ("IRU") agreements relating to excess
raised floor space at the e deltacom facility located in Suwanee,
Georgia, which are entered into by such Lessee after the date of
this Amendment; and
(B) the amount by which the aggregate payments, if any, made by such
Lessee upon the occurrence of an "Event" as defined in, and
pursuant to, Section 32.2 of the Amendment to the Revised and
Restated Fiber Optic Facilities and Services Agreement dated as
of August 1, 2000 between Southern Telecom, Inc. on behalf of
itself and as agent for the other parties named therein, and
FiberNet is less than seventeen million dollars ($17,000,000).
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All amounts paid to Lessors pursuant to this clause (ii) shall be applied to the
prepayment of the Deferred Rent by crediting such amounts against the payments
of Deferred Rent contemplated by Exhibit 2 hereto, that, but for such credit,
would next become due. For purposes of clause (ii)(A) above, "Net Advance
Payments" means prepayments of the purchase price or other consideration, net of
brokers' and finders' fees and commissions, reasonable legal fees and other
reasonable transaction costs.
(b) Amendments Concerning Negative Covenants.
(i) Amendment Concerning Financial Covenants. Effective as of the
later of (x) the Effective Date or (y) the date on which the Indenture have been
terminated and any securities outstanding thereunder shall have been cancelled,
the NTFC Lease Schedules and the NTFC Lease are hereby amended such that the
negative covenants set forth in Sections 4.03, 4.04, 4.05 and 4.10 of the
Indenture shall no longer be a part of the NTFC Lease, and Lessees shall have no
further obligation to observe such covenants for the benefit of NTFC. Effective
as of the Effective Date and immediately upon the amendment and restatement of
the Credit Agreement (as hereinafter defined) consistent with Section 2(a)(iv)
hereof, Section 1(a) of the Financial Covenants and Reporting Requirements Annex
to the NTFC Lease shall be deemed to be automatically amended to provide that
the "Lessees" (as defined in the NTFC Lease) shall observe for the benefit of
the "Lessor" (as defined in the NTFC Lease) the negative covenants set forth in
Sections 5.02(b)-(q) of the Credit Agreement as in effect immediately after
giving effect to such amendment and restatement.
(ii) Amendment Concerning Most Favored Creditor Status. Effective
as of the Effective Date, the NTFC Lease is hereby amended such that a new
subsection (vii) is added to Section 14(b) of the NTFC Lease, which reads in its
entirety as follows:
"Most Favored Creditor. If at any time and from time to time
after the effective date of the Amendment to the Schedules and
the Leases dated as of June 14, 2002 among the Lessees, the
Lessor and General Electric Capital Corporation, either Xxxxxx
enters into, assumes or otherwise becomes bound or obligated
under, or agrees to the modification of, one or more negative
covenants (other than, with respect to the Credit Agreement, the
negative covenants set forth in Section 5.02(a) thereof),
financial covenants or events of default contained in any
agreement or instrument of the Lessees providing for the
incurrence of or otherwise governing indebtedness in an amount in
excess of $10,000,000 (including, without limitation, the Credit
Agreement, each herein referred to as a "Material Debt Document")
that is more favorable to the creditors under such Material Debt
Document than are the negative or financial covenants or events
of default of this Agreement to the Lessor, this Agreement shall,
without any further action on the part of either Lessee or the
Lessor, be deemed to be amended automatically to include each
such more favorable negative or financial covenant or event of
default. No modification or amendment of any Material Debt
Document that results in any negative or financial covenant or
event of default becoming less restrictive on either
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Lessee shall be effective as a modification, amendment or waiver
under this Agreement. Each of the Lessees further covenants to
promptly execute and deliver at its expense (including, without
limitation, the fees and expenses of counsel for the Lessor) an
amendment to this Agreement in form and substance satisfactory to
the Lessor to reflect such amendment, provided that the execution
and delivery of such amendment shall not be a precondition to the
effectiveness of such amendment as provided for in this Section."
(c) Amendments Concerning Definitions.
(i) Effective as of the Effective Date, the Definitions Annex of the
NTFC Lease is hereby amended such that the following definition is added
thereto: "`Parent' means ITC DeltaCom, Inc. and its successors and assigns
(including, without limitation, ITC DeltaCom, Inc. as constituted upon a
reorganization under chapter 11 of title 11 of the United States Code)."
(ii) Effective as of the Effective Date, the GECC Lease is hereby
amended such that the following sentence is added at the end of Section 1
thereof: "Any reference to `Parent' shall mean ITC DeltaCom, Inc. and its
successors and assigns (including, without limitation, ITC DeltaCom, Inc. as
constituted upon a reorganization under chapter 11 of title 11 of the United
States Code)."
(d) Amendments to Events of Default.
(i) Effective as of the Effective Date, Section 19(h) of the NTFC
Lease and Section 14(g) of the GECC Lease are each hereby amended to read in
their entirety as follows: "Parent, Lessee, or any direct or indirect subsidiary
of Parent or Lessee becomes insolvent, makes an assignment for the benefit of
creditors, files a voluntary petition or has an involuntary petition filed or
action commenced against it under the United States Bankruptcy Code or any
similar federal or state law and in respect of an involuntary petition such
petition is not dismissed on or before 60 days after the filing thereof;".
(ii) Effective as of the Effective Date, Section 19(j) of the NTFC
Lease is hereby amended, and a new Section 14(j) is hereby added to the GECC
Lease, in each case to read in its entirety as follows: "a default, event or
condition, which with the notice or lapse of time or both would become an event
of default, occurs that gives a creditor of Parent, Lessee or any direct or
indirect subsidiary of Parent or Lessee the right to declare an event of default
(howsoever defined) and/or accelerate payment with respect of any obligation of
Parent, Lessee or any of their direct or indirect subsidiaries for borrowed
money in excess of $250,000 (including capitalized or operating lease
obligations)".
SECTION 2. Condition to Effectiveness; Other Matters.
(a) Effectiveness of Amendment. This Amendment shall not become effective
until all of the following conditions shall have been satisfied:
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(i) The absence under the Leases of any default or Event of Default
other than, to the extent they may be deemed to be continuing and in effect, the
defaults or Events of Defaults referred to in Schedule A to the Forbearance
Agreement (the "Forbearance Agreement Schedule A Defaults");
(ii) The representations and warranties of the Lessees in Section 3
hereof shall be true and correct in all material respects at such time;
(iii) Concurrently with the effectiveness of this Amendment, the
absence of (or the grant of a permanent waiver with respect to) any "Default" or
"Event of Default" under that certain Credit Agreement dated as of April 5, 2000
(as amended from time to time, the "Credit Agreement") among FiberNet, as
borrower, the Parent, as Guarantor, and certain other subsidiary guarantors,
Xxxxxx Xxxxxxx Senior Funding, Inc. as Administrative Agent, Xxxxxx Xxxxxxx &
Co., Inc. as collateral agent, and certain institutional lenders; and
(iv) Concurrently with the effectiveness of this Amendment, the
execution and delivery of an amended and restated Credit Agreement in the form
attached as Exhibit 3 hereto.
(b) Time of Effectiveness. At the time that all of the conditions set forth
in Section 2(a) have been satisfied and this Amendment shall have been executed
and delivered by the parties hereto, this Amendment shall become effective (the
"Effective Date").
(c) Waiver; Consent. Effective as of the Effective Date, Lessors hereby (i)
irrevocably waive any and all Forbearance Agreement Schedule A Defaults and any
and all other defaults or Events of Defaults under the Leases that, but for this
Section 2(c)(i), would arise out of or result from the transactions referred to
in Section 2(c)(ii), and (ii) agree and consent to the consummation of each and
every one of the transactions contemplated by the Plan to occur on or after the
effective date of the Plan (including, without limitation, the amendment and
restatement of the Credit Agreement consistent with Section 2(a)(iv) hereof)
notwithstanding that the consummation of any such transaction may, in the
absence of this Section 2(c), be deemed to violate or breach, or conflict with,
this Amendment or the Leases or to constitute a default or an Event of Default
under the Leases.
(d) No Additional Amendment. Lessors and Lessees agree that this Amendment
shall constitute the only amendment to the Schedules and the Leases that shall
be required as a result of the consummation of the transactions contemplated by
the Plan, including, without limitation, the amendment and restatement of the
Credit Agreement consistent with Section 2(a)(iv) hereof.
(e) Release by Xxxxxxx. Effective as of the Effective Date, the Lessees
hereby release each Lessor and each such Lessor's direct and indirect
stockholders and other affiliates, officers, employees, directors and agents
(collectively, the "Releasees") from any and all claims, demands, liabilities,
responsibilities, disputes, causes of action (whether at law or in equity) and
obligations of every nature whatsoever, whether liquidated or unliquidated,
known or unknown, matured or unmatured, fixed or contingent that any of the
Lessees may have against any Lessor arising from or relating to any action or
inactions of any Releasee on or prior to the Effective Date
5
with respect to the Leases or this Amendment. For purposes of the release
contained in this paragraph, the term "Lessee" shall also include the Lessees'
successors and assigns, including, without limitation, any trustee, receiver or
other representative acting on behalf of the Lessee.
SECTION 3. Representations and Warranties of Each Lessee. Each Lessee
represents and warrants that:
(a) The execution, delivery and performance of this Amendment by Lessees is
within the respective corporate powers of Xxxxxxx and has been duly authorized
by all necessary corporate actions on their part, and this Amendment constitutes
a valid and binding agreement of the Lessees.
(b) Except as expressly provided herein, the execution and delivery of this
Amendment shall not: (i) constitute an extension, modification, or waiver of any
aspect of the Leases; (ii) extend the terms of the Leases or the due date of any
of the obligations under the Leases; (iii) give rise to any obligation on the
part of either of the Lessors to extend, modify or waive any term or condition
of the Leases; or (iv) give rise to any defenses or counterclaims to Lessors'
rights to compel payment of the obligations under the Leases or to otherwise
enforce their rights and remedies under the Leases. Except as expressly limited
herein, the Lessors hereby expressly reserve all of their respective rights and
remedies under the Leases.
(c) The Leases, the Schedules and the Guaranty constitute valid and legally
binding obligations of Lessees, as applicable, and are enforceable against
Lessees, as applicable, in accordance with the terms thereof and hereof, except
as limited by bankruptcy, insolvency, reorganization or other similar laws or
equitable principles.
(d) The representations and warranties of such Lessee contained in the
Leases, the Schedules and each Lease Document are correct in all material
respects on and as of the date hereof, before and after giving effect to this
Amendment, other than any such representations and warranties that, by their
terms, refer to a specific date other than the date hereof, in which case as of
such specific date.
(e) The representations and warranties set out in Sections 13(b), (c), (d)
and (e) of the NTFC Lease are incorporated and set out in full herein with
references therein to "this Agreement" or "Lease Documents" in whatever form
being replaced by "this Amendment."
(f) No Event of Default (other than the Forbearance Agreement Schedule A
Defaults) has occurred and is continuing, or would result from this Amendment.
SECTION 4. Reference to and Effect on the Annexes, etc.
(a) On and after the Effective Date, (i) each reference in a Schedule to
"this Schedule," "hereunder," "hereof" or words of like import referring to such
Schedule, shall mean and be a reference to such Schedule, as amended by this
Amendment, (ii) each reference in a Lease to "this Agreement," "hereunder,"
"hereof" or words of like import referring to such Lease, shall mean and be a
reference to such Lease, as amended by this Amendment, and (iii) each reference
in a Lease Document to the "Master Lease Agreement," a "Schedule," an "Equipment
Schedule,"
6
"thereunder," "thereof" or words of like import shall mean and be a reference to
the NTFC Lease, an NTFC Lease Schedule, the GECC Lease or the GECC Lease
Schedule, as applicable, as amended by this Amendment.
(b) The Schedules and the Leases, as amended by this Amendment, are and
shall continue to be in full force and effect and hereby are in all respects
ratified and confirmed.
SECTION 5. Amendment Fee. Lessees jointly and severally agree to pay to
Lessors jointly an amendment fee in the aggregate amount of $75,000 in respect
of this Amendment, payable as follows: (a) $25,000 payable simultaneously with
the execution and delivery of this Amendment by Lessees, (b) $25,000 payable on
the date that is one calendar month after the date of execution and delivery of
this Amendment by Lessees, and (c) $25,000 payable on the date that is two
calendar months after the date of execution and delivery of this Amendment by
Lessees.
SECTION 6. Consent of FiberNet. FiberNet, as Guarantor under the Guaranty,
hereby consents to this Amendment and hereby confirms and agrees that (a) it has
received a copy of and reviewed to its satisfaction this Amendment and, (b)
notwithstanding the effectiveness of this Amendment, the Guaranty is, and shall
continue to be, in full force and effect and hereby is ratified and confirmed in
all respects.
SECTION 7. Execution in Counterparts. This Amendment may be executed by one
or more of the parties on any number of separate counterparts (which may be
originals or copies sent by facsimile transmission), each of which counterparts
shall be an original.
SECTION 8. Certain Costs and Expenses of Lessors. The Lessees hereby agree
to pay all of the Lessors' out-of-pocket costs and expenses related to the
preparation, negotiation and execution of this Amendment, or otherwise arising
out of the review and analysis of the Plan, the proposed changes to the Credit
Agreement and other matters related to the restructuring of certain Parent and
Lessee obligations (including, without limitation, the reasonable fees and
disbursements of legal counsel to the Lessors in an amount not to exceed $25,000
for the preparation, negotiation and execution of this Amendment).
SECTION 9. Governing Law. This Amendment shall be governed by the laws of
the State of New York. All parties waive all rights to a jury trial to the
extent permitted by law.
SECTION 10. Continued Effectiveness. Except as expressly set forth herein,
the terms, provisions and conditions of the Leases and the Schedules are
unchanged, and the Leases and the Schedules, as modified hereby, shall remain in
full force and effect and are hereby confirmed and ratified.
[Remainder of page intentionally blank; next page is signature page]
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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
executed by their respective officers, thereunto duly authorized, as of the date
first above written.
As Xxxxxx and, solely for purposes of Section 6
of this Amendment, as Guarantor:
INTERSTATE FIBERNET, INC.
By: /s/ X. Xxxxxx Xxxxxx
-------------------------------------------
Name: X. Xxxxxx Xxxxxx
Title: Sr. Vice President
As Lessee:
ITC/\ DELTACOM COMMUNICATIONS, INC.
By: /s/ X. Xxxxxx Xxxxxx
-------------------------------------------
Name: X. Xxxxxx Xxxxxx
Title: Sr. Vice President
[Signature page to Amendment to the Schedules and the Leases]
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As Lessor:
NTFC CAPITAL CORPORATION
By: /s/ Xxxxx Xxxx
-------------------------------------------
Name: Xxxxx Xxxx
Title: Vice President
As Lessor:
GENERAL ELECTRIC CAPITAL CORPORATION
By: /s/ Xxxxx Xxxx
-------------------------------------------
Name: Xxxxx Xxxx
Title: Managing Director
[Signature page to Amendment to the Schedules and the Leases]
9
Exhibit 1(a)
Deferred Rent
---------------------------
Month
-----
Jan-03 720,863
Feb-03 726,184
Mar-03 731,545
Apr-03 796,632
May-03 802,470
Jun-03 808,351
Jul-03 872,784
Aug-03 879,184
Sep-03 885,632
Oct-03 892,127
Nov-03 898,669
Dec-03 905,260
---------------------------
Total: $.9,919,701
-----------
10
Exhibit 1(b)
NTFC Lease - NTFC Lease - NTFC Lease - NTFC Lease -
Schedule 1 Schedule 2 Schedule 3 Schedule 4
Deferred Rent Deferred Rent Deferred Rent Deferred Rent
----------------------------------------------------------------------------------------
Month
-----
Jan-03 $303,061 $310,766 $22,537 $67,724
Feb-03 305,314 313,076 22,699 68,209
Mar-03 307,584 315,403 22,861 68,698
Apr-03 309,870 317,747 23,025 69,190
May-03 312,173 320,109 23,190 69,686
Jun-03 314,494 322,489 23,356 70,185
Jul-03 316,832 324,886 23,524 70,688
Aug-03 319,187 327,301 23,692 71,195
Sep-03 321,559 329,734 23,862 71,705
Oct-03 323,949 332,185 24,033 72,219
Nov-03 326,358 334,654 24,206 72,737
Dec-03 328,783 337,142 24,379 73,258
----------------------------------------------------------------------------------------
NTFC Lease - NTFC Lease - NTFC Lease - NTFC Lease -
Schedule 5 Schedule 6 Schedule 7 Schedule 8
Deferred Rent Deferred Rent Deferred Rent Deferred Rent
----------------------------------------------------------------------------------------
Month
-----
Jan-03 0 16,775 0 0
Feb-03 0 16,887 0 0
Mar-03 0 16,999 0 0
Apr-03 59,686 17,113 0 0
May-03 60,084 17,227 0 0
Jun-03 60,485 17,342 0 0
Jul-03 60,888 17,457 48,516 2,488
Aug-03 61,294 17,574 48,875 2,507
Sep-03 61,702 17,691 49,237 2,525
Oct-03 62,114 17,809 49,601 2,544
Nov-03 62,528 17,928 49,968 2,563
Dec-03 62,945 18,047 50,338 2,582
----------------------------------------------------------------------------------------
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GECC Lease -
Schedule
Deferred Rent
--------------------
Month
-----
Jan-03 0
Feb-03 0
Mar-03 0
Apr-03 0
May-03 0
Jun-03 0
Jul-03 7,504
Aug-03 7,560
Sep-03 7,616
Oct-03 7,672
Nov-03 7,729
Dec-03 7,786
--------------------
12
Exhibit 2
Restructured
---------------------------------------------------------------
Month Payment Interest Principal Balance
----- ------- -------- --------- -------
Jun-02 0 0 0 39,712,671
Jul-02 878,270 291,122 587,149 39,125,523
Aug-02 878,270 286,757 591,513 38,534,010
Sep-02 878,270 282,360 595,910 37,938,100
Oct-02 878,270 277,931 600,340 37,337,760
Nov-02 983,805 273,468 710,337 36,627,423
Dec-02 983,805 268,224 715,580 35,911,843
Jan-03 262,942 262,942 0 35,911,843
Feb-03 262,942 262,942 0 35,911,843
Mar-03 262,942 262,942 0 35,911,843
Apr-03 262,942 262,942 0 35,911,843
May-03 262,942 262,942 0 35,911,843
Jun-03 262,942 262,942 0 35,911,843
Jul-03 262,942 262,942 0 35,911,843
Aug-03 262,942 262,942 0 35,911,843
Sep-03 262,942 262,942 0 35,911,843
Oct-03 262,942 262,942 0 35,911,843
Nov-03 262,942 262,942 0 35,911,843
Dec-03 262,942 262,942 0 35,911,843
Jan-04 1,174,841 262,942 911,899 34,999,944
Feb-04 1,174,841 256,254 918,586 34,081,357
Mar-04 1,174,841 249,517 925,323 33,156,034
Apr-04 1,174,841 242,731 932,109 32,223,925
May-04 1,174,841 235,895 938,945 31,284,979
Jun-04 1,174,841 229,009 945,832 30,339,148
Jul-04 1,174,841 222,072 952,768 29,386,379
Aug-04 1,174,841 215,084 959,756 28,426,623
Sep-04 1,174,841 208,045 966,795 27,459,828
Oct-04 1,174,841 200,955 973,886 26,485,942
Nov-04 1,174,841 193,812 981,029 25,504,913
Dec-04 1,174,841 186,617 988,224 24,516,690
Jan-05 1,174,841 179,369 995,472 23,521,218
Feb-05 1,174,841 172,068 1,002,773 22,518,445
Mar-05 1,174,841 164,713 1,010,128 21,508,317
Apr-05 1,174,841 157,304 1,017,536 20,490,781
May-05 1,174,841 149,841 1,025,000 19,465,782
Jun-05 1,174,841 142,323 1,032,518 18,433,264
Jul-05 1,174,841 134,750 1,040,091 17,393,173
Aug-05 1,174,841 127,121 1,047,719 16,345,454
Sep-05 1,700,954 119,436 1,581,517 14,763,937
Oct-05 1,700,954 107,881 1,593,073 13,170,864
Nov-05 1,700,954 96,240 1,604,713 11,566,151
Dec-05 1,700,954 84,515 1,616,439 9,949,712
Jan-06 1,700,954 72,704 1,628,250 8,321,463
Feb-06 1,700,954 60,806 1,640,147 6,681,315
Mar-06 1,700,954 48,822 1,652,132 5,029,183
Apr-06 1,700,954 36,749 1,664,204 3,364,979
May-06 1,700,954 24,589 1,676,365 1,688,614
Jun-06 1,700,954 12,339 1,688,614 0
Jul-06 0 0 0 0
Aug-06 0 0 0 0
Sep-06 0 0 0 0
Oct-06 0 0 0 0
Nov-06 0 0 0 0
Dec-06 0 0 0 0
--------------------------------------------------------------------
$49,142,340
---------------------------------------------
14
