Cycurion, Inc 10-Q for FY2026 Q1

Cycurion, Inc. (CYCU)

10-Q 2026-05-14 For: 2026-03-31

Added on May 15, 2026

About this 10-Q

Cycurion, Inc filed this 10-Q on May 14, 2026, covering the quarter ended March 31, 2026 (FY2026 Q1).

Headline figures

Quarter ended March 31, 2026, as reported in this filing, compared with the same period a year earlier where the filing states it.

Revenue: $3.27M; down 15.5% from $3.87M a year earlier
Net loss: $2.13M; compared with a net loss of $10.25M a year earlier
Diluted EPS: -$0.47; compared with -$7.40 a year earlier

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Cycurion, Inc.
(Exact name of registrant as specified in its charter)
Delaware						86-3720717
(State or other jurisdiction of incorporation or organization)						(I.R.S. Employer Identification No.)

1640 Boro Place, Suite 420C, McLean, VA						22102
(Address of principal executive office)						(Zip Code)

(888) 341-6680
Registrant’s telephone number, including the area code)


Table of Contents to First Quarter 2026 Form 10-Q
	Special Note Regarding Forward-Looking Statements	3
Part I - FINANCIAL INFORMATION		4
Item 1.	Financial Statement - (Unaudited)	4
	Consolidated Balance Sheets	4
	Consolidated Statements of Operations and Comprehensive (Loss)/Income	5
	Consolidated Statements of Cash Flows	6
	Consolidated Statements of Changes in Stockholders’ Equity	7
	Notes to the Unaudited Consolidated Financial Statements	8
	1. Organization and Description of Business	8
	2. Significant Accounting Policies	10
	3. Revenue Recognition	12
	4. Accounts Receivable, Net	14
	5. Software Development Costs	14
	6. Business Combination	15
	7. Goodwill	17
	8. Bank Loans	18
	9. Loans Payable	20
	10. Convertible Notes	21
	11. Promissory Notes	22
	12. Subordinated Convertible Promissory Notes	22
	13. Factoring Liability	23
	14. Series A Convertible Preferred Stock	23
	15. Equity	23
	16. Concentrations, Risks and Uncertainties	35
	17. Rela ted Party Transactions	36
	18. Earnings Per Share	37
	19. Commitments and Contingencies	37
	20. Subsequent Events	42
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	43
	General and Business Overview	43
	Financial Overview	46
	Results of Operations	46
	Liquidity and Capital Resources	47
	Critical Accounting Policies and Estimates	49
Item 3.	Quantitative and Qualitative Disclosures about Market Risk	49
Item 4.	Controls and Procedures	49
PART II - OTHER INFORMATION		50
Item 1.	Legal Proceedings	50
Item 1A.	Risk Factors	50
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	50
Item 3.	Defaults upon Senior Securities	50
Item 4.	Mine Safety Disclosures	50
Item 5.	Other Information	50
Item 6.	Exhibits	50
	SIGNATURES	51


	March 31, 2026		December 31, 2025
Assets:
Cash and cash equivalents	$	2,028,718	$	5,255,235
Accounts receivable, net	3,336,047		2,687,479
Prepaid expenses and other current assets	106,934		60,133
Total current assets	5,471,699		8,002,847
Software development costs, net	4,735,981		4,606,981
Goodwill	21,238,450		20,842,508
Total non-current assets	25,974,431		25,449,489
Total assets	$	31,446,130	$	33,452,336
Liabilities and Stockholders' Equity:
Liabilities:
Bank loan-revolving credit line	$	2,725,546	$	2,933,396
Loans payable - current portion	669,693		669,693
Factoring liability	1,566,887		1,511,678
Convertible notes	192,897		192,897
Promissory notes	2,500,849		2,499,662
Loans payable - related parties	123,650		123,650
Accounts payable	1,441,596		1,314,772
Accrued liabilities	4,283,045		4,228,337
Accrued compensation and benefits	1,306,906		919,825
Accrued interest payable	1,486,041		1,347,787
Excise tax payable	1,167,173		1,167,173
Total current liabilities	17,464,283		16,908,870
Loans payable - non-current portion	300,000		300,000
Total non-current liabilities	300,000		300,000
Total liabilities	17,764,283		17,208,870
Commitments and contingencies (Note 19)
Stockholders' Equity:
Preferred stock ($0.0001 par value, 20,000,000 shares authorized)
Series A convertible preferred stock ($0.0001 par value, 110,000 shares designated, 0 and 0 issued and outstanding, respectively)	-		-
Series B convertible preferred stock ($0.0001 par value, 3,000 shares designated, 1 and 1 issued and outstanding, respectively)	-		-
Series C convertible preferred stock ($0.0001 par value, 5,000 shares designated, 2,547 and 4,851 issued and outstanding, respectively)	-		-
Series D convertible preferred stock ($0.0001 par value, 6,666,700 shares designated, 150,000 and 150,000 issued and outstanding, respectively)	15		15
Series E convertible preferred stock ($0.0001 par value, 100 shares designated, 51 and 51 issued and outstanding, respectively)	-		-
Series F convertible preferred stock ($0.0001 par value, 10,000 shares designated, 0 and 0 issued and outstanding, respectively)	-		-
Series G convertible preferred stock ($0.0001 par value, 10,000 shares designated, 143 and 143 issued and outstanding, respectively)	-		-
Common stock ($0.0001 par value, 300,000,000 shares authorized, 5,510,021 and 3,642,501 shares issued and outstanding, respectively)	551		364
Additional paid in capital	46,979,742		46,979,762
Accumulated deficit	(29,007,543)		(26,879,081)
Total stockholders' equity attributable to Cycurion	17,972,765		20,101,060
Deficit attributable to noncontrolling interests	(4,290,918)		(3,857,594)
Total stockholders' equity	13,681,847		16,243,466
Total liabilities and stockholders’ equity	$	31,446,130	$	33,452,336
See accompanying notes to unaudited consolidated financial statements.


	For the Three Months Ended March 31,
	2026		2025
Revenue	$	3,268,620	$	3,870,050
Cost of revenue	2,580,262		3,192,287
Gross profit	688,358		677,763
Operating expenses:
Selling, general and administrative expenses	2,743,695		337,374
Stock compensation expenses	315,833		-
Business combination expenses	-		10,437,894
Total operating expenses	3,059,528		10,775,268
Operating loss	(2,371,170)		(10,097,505)
Other income/(expenses):
Interest income	14,236		-
Interest expense	(204,852)		(178,890)
Gain on debt settlement, net	-		141,653
Other expense, net	-		(113,744)
Other expenses, net	(190,616)		(150,981)
Loss before income taxes	(2,561,786)		(10,248,486)
Provision for income tax	-		-
Net loss	(2,561,786)		(10,248,486)
Less: Net loss attributable to non-controlling interest	433,324		-
Net loss attributable to Cycurion	$	(2,128,462)	$	(10,248,486)

Comprehensive loss	$	(2,128,462)	$	(10,248,486)

Loss per share:
Basic	$	(0.47)	$	(15.57)
Diluted	$	(0.47)	$	(7.40)
Weighted average shares outstanding:
Basic	4,561,976		658,218
Diluted	4,561,976		1,383,507
See accompanying notes to unaudited consolidated financial statements.


	For the Three Months Ended March 31,
	2026		2025
Cash flows from operating activities:
Net loss	$	(2,561,786)	$	(10,248,486)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation	315,833		-
Stock-based compensation - business combination related	-		9,250,000
Amortization of debt discount	1,187		64,850
Depreciation of property and equipment	-		1,709
Amortization of software development costs	-		8,333
Gain on debt settlement, net	-		(141,653)
Finance expense	-		100,000
Changes in assets and liabilities:
Accounts receivable, net and other receivables	(648,568)		(1,300,686)
Prepaid expenses and other current assets	(46,801)		(11,415)
Accounts payable and accrued liabilities	(184,201)		(286,114)
Accrued compensation and benefits	96,248		37,673
Accrued interest payable	138,254		(219,320)
Net cash used in operating activities	(2,889,834)		(2,745,109)
Cash flows from investing activities:
Cash acquired on business combination	-		34,983
Capitalized software development costs	(129,000)		(70,000)
Cash withdrawn from Trust Account in connection with redemption	-		1,001,216
Release of Trust Account to Company's bank account	-		833,324
Net cash (used in)/provided by investing activities	(129,000)		1,799,523
Cash flows from financing activities:
Proceeds from exercise of warrants	167		3,309,921
Redemption of common stock subject to redemption	-		(1,001,216)
Repayments of revolving line of credit	(207,850)		(9,300)
Repayment of bank borrowings	-		(5,114)
Proceeds from convertible notes payable	-		386,500
Proceeds from notes payable	-		513,200
Repayments of notes payable	-		(20,000)
Net cash (used in)/provided by financing activities	(207,683)		3,173,991
Net (decrease)/increase in cash and cash equivalents	(3,226,517)		2,228,405
Cash and cash equivalents, beginning of period	5,255,235		40,790
Cash and cash equivalents, end of period	$	2,028,718	$	2,269,195
See accompanying notes to unaudited consolidated financial statements.


	Common stock subject to possible redemption			Series A Convertible Preferred Stock			Series B Convertible Preferred Stock			Series C Convertible Preferred Stock			Series D Convertible Preferred Stock			Series E Convertible Preferred Stock			Series G Convertible Preferred Stock			Common Stock			Additional Paid-In Capital		Accumulated Deficit		Total		Non- Controlling Interest		Total Stockholders' Equity
	Shares	Amount ($)		Shares	Amount ($)		Shares	Amount ($)		Shares	Amount ($)		Shares	Amount ($)		Shares	Amount ($)		Shares	Amount ($)		Shares	Amount ($)
Balance of December 31, 2025	5,796	$	1,917,309	-	$	-	1	$	-	4,851	$	-	150,000	$	15	51	$	-	143	$	-	3,642,501	$	364	$	46,979,762	$	(26,879,081)	$	20,101,060	$	(3,857,594)	$	16,243,466
Common stock issued for exercise of warrants	-	-		-	-		-	-		-	-		-	-		-	-		-	-		1,670,719	167		-		-		167		-		167
Conversion of Series C Convertible Preferred stock for common stock	-	-		-	-		-	-		(2,304)	-		-	-		-	-		-	-		196,801	20		(20)		-		-		-		-
Net loss	-	-		-	-		-	-		-	-		-	-		-	-		-	-		-	-		-		(2,128,462)		(2,128,462)		(433,324)		(2,561,786)
Balance as of March 31, 2026	5,796	$	1,917,309	-	$	-	1	$	-	2,547	$	-	150,000	$	15	51	$	-	143	$	-	5,510,021	$	551	$	46,979,742	$	(29,007,543)	$	17,972,765	$	(4,290,918)	$	13,681,847


Table 3: Disaggregated Revenue
	For the Three Months Ended March 31,
	2026		2025
Advisory consulting	$	3,244,770	$	3,835,414
Managed security service practice (MSSP)	22,500		31,513
Software as a service (Saas)	1,350		3,123
Revenue	$	3,268,620	$	3,870,050


Table 4: Details of Accounts Receivable, Net
	March 31, 2026		December 31, 2025
Billed accounts receivable	$	2,156,076	$	1,518,937
Billed accounts receivable - factored	1,649,354		1,591,240
Unbilled accounts receivable	-		45,325
Allowance for credit losses	(469,383)		(468,023)
Accounts receivable, net	$	3,336,047	$	2,687,479


Table 5: Capitalized Software Development Costs
	For the Three Months Ended March 31,
	2026		2025
Capitalized software development costs	$	129,000	$	70,000


Table 6: SLG Valuation
	Initial Allocation of Assets and Liabilities		Adjustments		Final Allocation of Assets and Liabilities as of March 31, 2026
Cash consideration:
Cash consideration	$	2,000,000	$	-	$	2,000,000
Less: cash acquired	(34,983)		-		(34,983)
Cash consideration, net of cash acquired	1,965,017		-		1,965,017
Noncash consideration:
Common stock (1)	254,071		250,071		504,142
Series E Convertible Preferred Stock (2)	255,000		-		255,000
Accounts receivable in Cycurion owing from SLG (3)	10,814,147		-		10,814,147
Noncash consideration	11,323,218		250,071		11,573,289
Total consideration	$	13,288,235	$	250,071	$	13,538,306
Assets acquired:
Accounts receivable	$	3,066,581	$	-	$	3,066,581
Total identified assets acquired	3,066,581		-		3,066,581
Liabilities assumed:
Accounts payable	4,317,052		222,313		4,539,365
Accrued liabilities	10,650		54,209		64,859
Payroll liability	40,642		173,629		214,271
Factoring liability	2,176,922		-		2,176,922
Due to related parties	18,000		-		18,000
Loans payable	625,222		-		625,222
Liabilities to Cycurion	2,982,908		-		2,982,908
Total identified liabilities assumed	10,171,396		450,151		10,621,547
Net identifiable liabilities assumed	(7,104,815)		(450,151)		(7,554,966)
Elimination of inter-company balances	2,982,908		-		2,982,908
Non-controlling interest	(3,464,218)		-		(3,464,218)
Goodwill	13,945,924		700,222		14,646,146
Net assets acquired	$	13,288,235	$	250,071	$	13,538,306


Table 7: Details of Goodwill
	March 31, 2026		December 31, 2025
Axxum	$	5,153,266	$	5,153,266
Cloudburst	1,439,038		1,439,038
SLG	14,646,146		14,250,204
Goodwill	$	21,238,450	$	20,842,508


Table 9: Details of Loans Payable
	March 31, 2026		December 31, 2025
Loan payable - Cycurion	$	405,314	$	405,314
Loan payable - SLG	264,379		264,379
Economic injury disaster loan - Cycurion	150,000		150,000
Economic injury disaster loan - SLG	150,000		150,000
Total loans payable	969,693		969,693
Less: Current portion of long-term debt	669,693		669,693
Long-term debt	$	300,000	$	300,000


Table 10: Details of Convertible Notes
	Principal Value		Unamortized Discount and Issuance Costs		Convertible Notes Carrying Balance		Weighted Average Interest Rate	Maturity (Calendar Year)
Balance as of December 31, 2024	$	—	$	—	$	—
Issuance	440,217		(53,717)		386,500		18.0%	2026
Amortization	—		4,476		4,476
Balance as of March 31, 2025	440,217		(49,241)		390,976		18.0%	2026
Issuance	2,050,000		(60,000)		1,990,000		15.1%	2026
Conversion to equity	(2,490,217)		82,465		(2,407,752)		18.0%	2026
Amortization	—		26,776		26,776
Balance as of June 30, 2025	—		—		—
Issuance	—		—		—
Balance as of September 30, 2025	—		—		—
Issuance	192,897		—		192,897		12.0%	2027
Balance as of December 31, 2025	192,897		—		192,897		12.0%	2027
Issuance	—		—		—
Balance as of March 31, 2026	$	192,897	$	—	$	192,897	12.0%	2027


Table 11.1: Details of Promissory Notes
	Principal Value		Unamortized Discount and Issuance Costs		Convertible Notes Carrying Balance		Weighted Average Interest Rate
Balance as of December 31, 2024	$	2,498,369	$	(11,380)	$	2,486,989	16.6%
Issuance	690,558		(77,358)		613,200		13.5%
Repayment	(20,000)		—		(20,000)		35.0%
Amortization	36,667		21,297		57,964
Balance as of March 31, 2025	3,205,594		(67,441)		3,138,153		15.8%
Conversion to equity	(456,500)		—		(456,500)		24.0%
Repayment	(50,000)		—		(50,000)		24.0%
Amortization	—		37,973		37,973
Balance as of June 30, 2025	2,699,094		(29,468)		2,669,626		14.3%
Repayment	(31,579)		—		(31,579)		12.0%
Amortization	—		20,616		20,616
Balance as of September 30, 2025	2,667,515		(8,852)		2,658,663		14.3%
Conversion to a convertible note	(166,666)		-		(166,666)		10.0%
Amortization	—		7,665		7,665
Balance as of December 31, 2025	2,500,849		(1,187)		2,499,662		14.3%
Amortization	—		1,187		1,187
Balance as of March 31, 2026	$	2,500,849	$	—	$	2,500,849	14.3%


Table 11.2: Details of Loans Payable
	March 31, 2026		December 31, 2025		Weighted Average Interest Rate	Maturity (Calendar Year)
Note issued in 2017	$	250,000	$	250,000	4.0%	2020
Note issued in 2020	300,000		300,000		24.0%	2021
Note issued in 2021	400,000		400,000		24.0%	2021 - 2022
Notes issued in 2023	611,111		611,111		24.0%	2023
Notes issued in 2024	319,180		319,180		10.7%	2025
Notes issued in 2025	620,558		620,558		12.0%	2025 -2026
Funded loans payable	2,500,849		2,500,849		17.3%
Less: Unamortized debt-issuance costs and discounts	-		(1,187)
Total loans payable	$	2,500,849	$	2,499,662


Table 15.1: Details of Warrants
	Number of Warrants	Weighted Average Exercise Price		Weighted Average Life (years)
Outstanding warrants, December 31, 2024	315,028	$	20.64	3.0
Granted	869,992	164.96		4.7
Replacement of old warrants	(315,028)	20.64		2.9
Exercised	(234,831)	14.27		4.3
Outstanding warrants, March 31, 2025	635,161	220.67		4.7
Issued - Prefunded (equity line)	150,000	-		1.0
Exercised - Prefunded (equity line)	(83,333)	-		1.0
Exercised	(23,633)	15.00		5.0
Outstanding warrants, June 30, 2025	678,195	206.15		4.8
Exercised - Prefunded (equity line)	(66,667)	-		1.0
Outstanding warrants, September 30, 2025	611,528	228.62		4.8
Issued - Prefunded (Armistice-Prefunded)	1,670,720	-		1.0
Issued (Armistice)	3,341,439	3.62		5.0
Outstanding warrants, December 31, 2025	5,623,687	27.01		5.0
Exercised - Prefunded (Armistice-Prefunded)	(1,670,720)	-		1.0
Outstanding warrants, March 31, 2026	3,952,967	$	27.01	5.0
Exercisable warrants, March 31, 2026	3,952,967	$	27.01	5.0


Table 16.1: Revenue Concentration by Customer - Based on % of Revenue
	For the Three Months Ended March 31,
	2026			2025
Customer	Amount		%	Amount		%
A	$	1,105,481	33.8%	$	1,112,572	28.7%
B	$	724,822	22.2%	$	563,621	14.6%
C	$	315,240	9.6%	$	487,173	12.6%
D	$	229,893	7.0%	$	389,280	10.1%


Table 16.2: Accounts Receivable Concentration by Customer - Based on % of Accounts Receivable, Net
	March 31, 2026				December 31, 2025
Customer	Amount		%		Amount		%
1	$	1,060,754	31.8	%	$	768,954	29%
2	$	724,821	21.7	%	$	479,151	18%
3	$	275,057	8.2	%	$	373,236	14%



Exhibit No.		Description of Exhibit
31.1	Ω	Certification of Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (L. Kevin Kelly, Chief Executive Officer).

31.2	Ω	Certification of Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (Alvin McCoy, III, Chief Financial Officer).

32.1	†	Certification of Principal Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (L. Kevin Kelly, Chief Executive Officer).

32.2	†	Certification of Principal Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (Alvin McCoy, III, Chief Financial Officer).

101.INS	Ω	XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.

101.SCH	Ω	XBRL Taxonomy Extension Schema.

101.CAL	Ω	XBRL Taxonomy Extension Calculation Linkbase.

101.DEF	Ω	XBRL Taxonomy Extension Definition Linkbase.

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104	Ω	Cover Page Interactive Data File - the cover page iXBRL tags are embedded within the inline XBRL document contained in Exhibit 101.


	Ω	Filed herewith
	†	Furnished herewith


Table 15.2: Details of Common Stock Subject to Possible Redemption
	Number of Shares	Amount
Common stock subject to possible redemption as of December 31, 2024	5,796	$	1,917,309
Less:
Redemption	(3,163)	(1,001,216)
Release of common stock subject to redemption	(2,633)	(916,093)
Common stock subject to possible redemption as of December 31, 2025	-	$	-


Table 17: Details of Loans Payable - Related Party
	March 31, 2026		December 31, 2025		Weighted Average Interest Rate	Maturity (Calendar Year)
Loans issued to a director in 2023	$	103,400	$	103,400	24.0%	2023
Loan issued to a director in 2024	20,250		20,250		24.0%	2025
Funded loans payable - related party principal	123,650		123,650
Less: Unamortized debt-issuance costs and discounts	-		-
Loans payable - related party - current	$	123,650	$	123,650


Table 18.1: Details of Basic and Dilutive Loss Per Share
	For the Three Months Ended March 31,
	2026		2025
Basic net loss per share:
Numerator
Net loss including non-controlling interests	$	(2,561,786)	$	(10,248,486)
Less: Net loss attributable to non-controlling interest	(433,324)		-
Net loss attributable to common stockholders - basic	$	(2,128,462)	$	(10,248,486)
Denominator
Weighted average shares outstanding - basic	4,561,976		658,218
Basic net loss per share attributable to common stockholders	$	(0.47)	$	(15.57)
Diluted net loss per share:
Numerator
Net loss attributable to common stockholders - basic	$	(2,128,462)	$	(10,248,486)
Add back interest for subordinated convertible promissory note	-		5,000
Net loss attributable to common stockholders - diluted	$	(2,128,462)	$	(10,243,486)
Denominator
Weighted average shares outstanding - basic	4,561,976		658,218
Weighted-average effect of potentially dilutive securities:
Conversion of subordinated convertible promissory note	-		3,360
Conversion of Series A Convertible Preferred Stock	-		77,860
Conversion of Series B Convertible Preferred Stock	-		38
Conversion of Series C Convertible Preferred Stock	-		1,212
Exercise of investor and placement agent warrants	-		640,243
Weighted average shares outstanding - diluted	4,561,976		1,383,507
Dilutive net loss per share attributable to common stockholders	$	(0.47)	$	(7.40)


Table 18.2: Details of Potentially Dilutive Effect of Securities Excluded from Dilutive EPS due to Anti-Dilutive Effect
	For the Three Months Ended March 31,
	2026	2025
Conversion of Series B Convertible Preferred Stock	1,347	-
Conversion of Series C Convertible Preferred Stock	1,202	-
Conversion of Series D Convertible Preferred Stock	10,092	-
Conversion of Series E Convertible Preferred Stock	51	-


Table MD&A 1: Consolidated Results of Operations
	For the Three Months Ended March 31,
	2026			2025
Revenue	$	3,268,620		$	3,870,050
Cost of revenue	2,580,262			3,192,287
Gross profit	688,358			677,763
Gross margin	21.1		%	17.5		%
Operating expenses:
Selling, general and administrative expenses	2,743,695			337,374
Stock compensation expenses	315,833			—
Business combination expenses	—			10,437,894
Total operating expenses	3,059,528			10,775,268
Operating loss	(2,371,170)			(10,097,505)
Interest income	14,236			—
Interest expense	(204,852)			(178,890)
Gain on debt settlement, net	—			141,653
Other expense	—			(113,744)
Other expense, net	(190,616)			(150,981)
Loss before income taxes	(2,561,786)			(10,248,486)
Provision for income tax	—			—
Net loss	(2,561,786)			(10,248,486)
Less: Net loss attributable to non-controlling interest	433,324			—
Net loss attributable to Cycurion	$	(2,128,462)		$	(10,248,486)


Table MD&A 2: Net Changes in Cash and Cash Equivalents
	For the Three Months Ended March 31,
	2026		2025
Net cash used in operating activities	$	(2,889,834)	$	(2,745,109)
Net cash (used in)/provided by investing activities	(129,000)		1,799,523
Net cash (used in)/provided by financing activities	(207,683)		3,173,991
Net (decrease)/increase in cash and cash equivalents	$	(3,226,517)	$	2,228,405


Cycurion Inc.

By:	/s/ L. Kevin Kelly	May 14, 2026
	L. Kevin Kelly
	Chief Executive Officer
	(Principal Executive Officer)

	/s/ Alvin McCoy III	May 14, 2026
By:	Alvin McCoy III
	Chief Financial Officer
	(Principal Financial Officer and Principal Accounting Officer)