When Arixa launched its first fund, we chose to have the financial statements audited annually. Arixa Fund I will soon have three years of audited financial statements, while Arixa Fund II will soon have its first year of audited results. Both audits are being conducted by Lodgen, Lacher, Golditch, Sardi, Saunders & Howard, LLP, a Los Angeles CPA firm founded in 1965. Having audited results contributes to Arixa's mission of providing superior returns for real estate investors. We tap into niche investment areas where competition is limited for one or more reasons, but we still provide the transparency and thoroughness of much larger funds. We believe this combination explains the company's growth in the midst of a challenging and very competitive real estate investment environment.