Greetings. I am pleased to submit to the Board my report on legal and regulatory matters in which our office has been involved since the last Board meeting. Please, as indicated on the attached report, consider the report to be confidential and subject to attorney-client privilege. It is not for dissemination or publication in any form whatsoever. 

I will be pleased to answer any questions about the report before, during or after the upcoming Board meeting. 

73, Chris Imlay, W3KD

General Counsel