Nevada
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26-1749145
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(State
of Incorporation)
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(IRS
Employer Ident.
No.)
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30950 Rancho Viejo Road, Suite 120
San Juan Capistrano, CA
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92675
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(Address of Principal Executive Offices)
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(Zip Code)
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(Former
name or former address, if changed since last
report)
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¨ Large
accelerated filer
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¨ Accelerated
filer
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¨ Non-accelerated
filer
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x Smaller
reporting company
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PART I - FINANCIAL
INFORMATION
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Page
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Item
1.
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Financial
Statements
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Balance
Sheets – July 31, 2009 (Unaudited) and April 30, 2009
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1
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Statements
of Operations - (Unaudited) Three Months Ended July 31, 2009 and 2008 and
for the period of inception, from May 19, 2005 through July 31,
2009
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2
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Statements
of Cash Flows - (Unaudited) Three Months Ended July 31, 2009 and 2008 and
for the period of inception, from May 19, 2005 through July 31,
2009
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3
|
|
Statements
of Stockholders Equity (Unaudited) – For the Period Ended July 31,
2009
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4
|
|
Notes
to Financial Statements
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5
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Item
2.
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Management’s
Discussion and Analysis of Financial Condition and Results of
Operations
|
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Financial
Condition and Results
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15
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Item
3.
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Quantitative
and Qualitative Disclosures About Market Risk
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18
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Item
4T.
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Controls
and Procedures
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19
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PART II - OTHER INFORMATION
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Item
1.
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Legal
Proceedings
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19
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Item
2.
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Unregistered
Sales of Equity Securities and Use of Proceeds
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19
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Item
3.
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Defaults
Upon Senior Securities
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19
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Item
4.
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Submission
of Matters to a Vote of Security Holders
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19
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Item
5.
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Other
Information
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19
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Item
6.
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Exhibits
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19
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Signatures
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20
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(An
Exploration Stage Company)
|
Balance
Sheets
|
July
31,
|
April
30,
|
|||||||
2009
|
2009
|
|||||||
(unaudited)
|
||||||||
ASSETS
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||||||||
Current
Assets
|
||||||||
Cash
and Cash Equivalents
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$ | 298,275 | $ | 900 | ||||
Total
Current Assets
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298,275 | 900 | ||||||
Total
Assets
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$ | 298,275 | $ | 900 | ||||
LIABILITIES
& STOCKHOLDERS' EQUITY (DEFICIT)
|
||||||||
Current
Liabilities
|
||||||||
Accounts
Payable
|
$ | 21,498 | $ | 41,295 | ||||
Accrued
Expenses
|
98,158 | 100,917 | ||||||
Due
to Affiliate
|
8,700 | - | ||||||
Total
Current Liabilities
|
128,356 | 142,212 | ||||||
Stockholders'
Equity (Deficit)
|
||||||||
Common
Stock, $0.001 par value, 300,000,000 shares authorized,
72,325,000 shares issued and outstanding at July 31, 2009 and,
71,925,000 shares issued and outstanding at April 30, 2009
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72,325 | 71,925 | ||||||
Additional
paid-in capital
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1,639,011 | 1,239,411 | ||||||
Deficit
accumulated in the development stage
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(1,541,417 | ) | (1,452,648 | ) | ||||
Total
Stockholders' Equity (Deficit)
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169,919 | (141,312 | ) | |||||
Total
Liabilities and Stockholders' Equity (Deficit)
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$ | 298,275 | $ | 900 |
MANAGEMENT
ENERGY INC.
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(An
Exploration Stage Company)
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Statements
of Operations
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(unaudited)
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For the period
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||||||||||||
of
Inception,
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||||||||||||
For
the
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from
May 19,
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|||||||||||
Three
Months Ended
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2005 through
|
|||||||||||
July
31,
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July
31,
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|||||||||||
2009
|
2008
|
2009
|
||||||||||
Expenses:
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||||||||||||
Professional
Fees
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$ | 6,200 | $ | - | $ | 58,000 | ||||||
Consulting
|
70,001 | - | 136,669 | |||||||||
Mining
Lease
|
- | - | 62,541 | |||||||||
Stock
Based Compensation
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- | - | 1,163,500 | |||||||||
Other
General & Administrative
|
12,568 | - | 37,434 | |||||||||
Total
Operating Expenses
|
88,769 | - | 1,458,144 | |||||||||
Operating
Loss From Continuing Operations
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$ | (88,769 | ) | $ | - | $ | (1,458,144 | ) | ||||
Discontinued
operations
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||||||||||||
Gain
(loss) from discontinued operations
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- | 3,935 | (83,273 | ) | ||||||||
Net
Income (Loss)
|
$ | (88,769 | ) | $ | 3,935 | $ | (1,541,417 | ) | ||||
Basic
and Dilutive Net Loss From Continuing Operations Per Share
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$ | (0.001 | ) | $ | - | |||||||
Basic
and Dilutive Net Income From Discontinued Operations Per
Share
|
$ | - | $ | 0.0003 | ||||||||
Weighted
average number of shares outstanding, basic and diluted
|
71,955,769 | 14,300,000 |
MANAGEMENT
ENERGY INC.
|
(An
Exploration Stage Company)
|
Statements
of Cash flows
|
(unaudited)
|
For the period
|
||||||||||||
of
Inception,
|
||||||||||||
For
the
|
May
19,
|
|||||||||||
Three
Months Ended
|
2005
to
|
|||||||||||
July
31,
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July
31,
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|||||||||||
2009
|
2008
|
2009
|
||||||||||
Cash
Flows from Operating Activities
|
||||||||||||
Net
Loss from continuing operations
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$ | (88,769 | ) | $ | - | $ | (1,458,144 | ) | ||||
Net
Gain (Loss) from discontinued operations
|
- | 3,935 | (83,273 | ) | ||||||||
Adjustments
to reconcile net loss to net cash used in operating
activities:
|
||||||||||||
Depreciation
expense
|
- | - | 1,479 | |||||||||
Stock
issued to acquire mining lease
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- | - | 62,541 | |||||||||
Stock
Based Compensation
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- | - | 1,163,500 | |||||||||
Change
in operating assets and liabilities:
|
||||||||||||
Accounts
Receivable
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- | (12,650 | ) | (15,118 | ) | |||||||
Prepaids
|
- | - | (1,500 | ) | ||||||||
Accounts
Payable
|
(19,797 | ) | - | 21,498 | ||||||||
Accrued
expenses
|
(2,759 | ) | - | 98,158 | ||||||||
Net
Cash used in Operating Activities
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(111,325 | ) | (8,715 | ) | (210,859 | ) | ||||||
Cash
Flows from Investing Activities
|
||||||||||||
Purchase
of equipment
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- | - | (23,564 | ) | ||||||||
Net
Cash used in Investing Activities
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- | - | (23,564 | ) | ||||||||
Cash
Flows from Financing Activities
|
||||||||||||
Proceeds
from the sale of Common Stock
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400,000 | - | 523,998 | |||||||||
Borrowing
from Affiliate
|
8,700 | - | 8,700 | |||||||||
Repayment
of loan from officer
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- | (1,750 | ) | - | ||||||||
Net
Cash provided by (used by) Financing Activities
|
408,700 | (1,750 | ) | 532,698 | ||||||||
Net
Increase (Decrease) in Cash
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$ | 297,375 | $ | (10,465 | ) | $ | 298,275 | |||||
Cash
at beginning of period
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$ | 900 | $ | 76,697 | $ | - | ||||||
Cash
at end of period
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$ | 298,275 | $ | 66,232 | $ | 298,275 | ||||||
Cash
paid for
|
||||||||||||
Interest
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$ | - | $ | - | $ | - | ||||||
Income
Taxes
|
$ | - | $ | - | $ | - | ||||||
Supplemental
Disclosue of Non-Cash Disposal of Assets related to Discontinued
Operations:
|
||||||||||||
Accounts
receivable
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$ | - | $ | - | $ | 15,118 | ||||||
Prepaids
|
- | - | 1,500 | |||||||||
Property
and Equipment
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- | - | 22,085 | |||||||||
Common
stock
|
- | - | (4,000 | ) | ||||||||
Additional
Paid in Capital
|
- | - | (34,703 | ) | ||||||||
$ | - | $ | - | $ | - |
(An
Exploration Stage Company)
|
Statement
of Stockholders' Equity
(Deficit)
|
Accumulated
|
||||||||||||||||||||
Additional
|
Deficit During
|
|||||||||||||||||||
Common Stock
|
Paid-in
|
Exploration
|
||||||||||||||||||
Shares
|
Amount
|
Capital
|
Stage
|
Total
|
||||||||||||||||
Balances
at May 19, 2007
|
- | $ | - | $ | - | $ | - | $ | - | |||||||||||
Common
stock issued for cash on January 10, 2008 at $0.002 per
share
|
9,000,000 | 9,000 | 9,000 | - | 18,000 | |||||||||||||||
Common
stock issued for cash on February 20, 2008 at $0.02 per
share
|
5,300,000 | 5,300 | 99,698 | - | 104,998 | |||||||||||||||
Net
loss for the year ended April 30, 2008
|
- | - | - | (23,287 | ) | (23,287 | ) | |||||||||||||
Balances
at April 30, 2008
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14,300,000 | $ | 14,300 | $ | 108,698 | $ | (23,287 | ) | $ | 99,711 | ||||||||||
Shares
retired in the disposal of assets
|
(4,000,000 | ) | (4,000 | ) | (34,703 | ) | - | $ | (38,703 | ) | ||||||||||
Common
stock issued for cash on February 27, 2009 at $0.0002 per
share
|
5,000,000 | 5,000 | (4,000 | ) | - | $ | 1,000 | |||||||||||||
Common
Stock issued for professional services on April 15, 2009
|
1,625,000 | 1,625 | 1,161,875 | - | $ | 1,163,500 | ||||||||||||||
Common
Stock issued in acquisition of mining lease on April 15,
2009
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60,000,000 | 60,000 | 2,541 | - | $ | 62,541 | ||||||||||||||
Common
Stock issued for professional services on April 16, 2009
|
2,010,500 | 2,010 | 1,465,655 | - | $ | 1,467,665 | ||||||||||||||
Shares
retired due to termination of consulting agreement
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(7,010,500 | ) | (7,010 | ) | (1,460,655 | ) | - | $ | (1,467,665 | ) | ||||||||||
Net
loss from discontinued operations for the year ended April 30,
2009
|
- | - | - | (59,986 | ) | $ | (59,986 | ) | ||||||||||||
Net
loss from continuing operations for the year ended April 30,
2009
|
- | - | - | (1,369,375 | ) | $ | (1,369,375 | ) | ||||||||||||
Balances
at April 30, 2009
|
71,925,000 | $ | 71,925 | $ | 1,239,411 | $ | (1,452,648 | ) | $ | (141,312 | ) | |||||||||
Common
stock issued for cash on July 24, 2009 at $1.00 per share
|
400,000 | 400 | 399,600 | - | $ | 400,000 | ||||||||||||||
Net
loss from continuing operations for the three months ended July 31,
2009
|
- | - | - | (88,769 | ) | $ | (88,769 | ) | ||||||||||||
Balances
at July 31, 2009
|
72,325,000 | $ | 72,325 | $ | 1,639,011 | $ | (1,541,417 | ) | $ | 169,919 |
Name of Member
|
Number of Shares
|
|||
John
P. Baugues, Jr.
|
15,925,000 | |||
The
John Paul Baugues, Sr. Family Trust
|
16,575,000 | |||
Tydus
Richards
|
27,500,000 | |||
Total
|
60,000,000 |
For
the
|
||||||||
Three
Months Ended
|
||||||||
July 31,
|
||||||||
2009
|
2008
|
|||||||
Net
Income (Loss)
|
$ | (88,769 | ) | $ | 3,935 | |||
Basic
and Dilutive Net Loss From Continuing Operations Per Share
|
$ | (0.001 | ) | $ | - | |||
Basic
and Dilutive Net Income From Discontinued Operations Per
Share
|
$ | - | $ | 0.0003 | ||||
Weighted
average number of shares outstanding, basic and
diluted
|
71,955,769 | 14,300,000 |
Joel
Klandrud
|
4,500,000
shares at a price of $0.002 per share
|
President
and Chief Operating Officer
|
|
Director
|
|
Sandra
Dosdall
|
4,500,000
shares at a price of $0.002 per share
|
Director
|
Name of Member
|
Number of Shares
|
|||
John
P. Baugues, Jr.
|
15,925,000 | |||
The
John Paul Baugues, Sr. Family Trust
|
16,575,000 | |||
Tydus
Richards
|
27,500,000 | |||
Total
|
60,000,000 |
April
30, 2010
|
62,541 | |||
April
30, 2011
|
62,541 | |||
April
30, 2012
|
62,541 | |||
April
30, 2013
|
62,541 | |||
April
30, 2014
|
62,541 | |||
Thereafter
|
312,705 | |||
625,410 |
July
31,
|
April
30,
|
|||||||
2009
|
2009
|
|||||||
Accrued
Consulting Fees
|
60,002 | 66,668 | ||||||
Accrued
Audit Fees
|
4,500 | 3,000 | ||||||
Accrued
Legal Fees
|
13,200 | 10,000 | ||||||
Accrued
Travel, Meals & Entertainment
|
20,456 | 21,249 | ||||||
98,158 | 100,917 |
Name of Member
|
Number of Shares
|
|||
John
P. Baugues, Jr.
|
15,925,000 | |||
The
John Paul Baugues, Sr. Family Trust
|
16,575,000 | |||
Tydus
Richards
|
27,500,000 | |||
Total
|
60,000,000 |
Accounts
receivable
|
$ | 15,118 | ||
Prepaids
|
1,500 | |||
Property
and Equipment
|
22,085 |
No.
|
Description
|
|
Exhibit
31.1
|
Certification
by the Chief Executive Officer Pursuant to Section 302 of the
Sarbanes-Oxley Act of 2002*
|
|
Exhibit
31.2
|
Certification
by the Chief Financial Officer Pursuant to Section 302 of the
Sarbanes-Oxley Act of 2002*
|
|
Exhibit
32.1
|
Certification
by the Chief Executive Officer Pursuant to 18 U.S.C. Section 1350, as
Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of
2002*
|
|
Exhibit
32.2
|
Certification
by the Chief Financial Officer Pursuant to 18 U.S.C. Section 1350, as
Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of
2002*
|
Dated:
September
11,
2009
|
Management
Energy, Inc.
|
By:
|
/s/ David Walters
|
David
Walters, Chief Executive
Officer
|
By:
|
/s/ Matt Szot
|
Matt
Szot, Chief Financial
Officer
|
No.
|
Description
|
|
Exhibit
31.1
|
Certification
by the Chief Executive Officer Pursuant to Section 302 of the
Sarbanes-Oxley Act of 2002*
|
|
Exhibit
31.2
|
Certification
by the Chief Financial Officer Pursuant to Section 302 of the
Sarbanes-Oxley Act of 2002*
|
|
Exhibit
32.1
|
Certification
by the Chief Executive Officer Pursuant to 18 U.S.C. Section 1350, as
Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of
2002*
|
|
Exhibit
32.2
|
Certification
by the Chief Financial Officer Pursuant to 18 U.S.C. Section 1350, as
Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of
2002*
|