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Explanation: "FMO made the first disbursement of $850,000 of its contribution on March 2, 2005 and this
amount is recorded as Deferred Funds in the consolidated financial statements. The Company
anticipates that the remaining contribution commitments of FMO of $850,000 will be received in
the fourth quarter of 2005 upon tendering final reports and verification of Phase 1 of the Project"