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Scherrer has an Advisory Board, reporting to the President, which includes recognized independent professionals and managers drawn by Scherrer from the computer, corporate finance, software, legal, and management consulting fields. The Advisory Board meets quarterly to advise the President and its Executive Committee of the Company on strategic matters. Biographical sketches of the Advisory Board members are provided here: Samuel A. Frederick is a Philadelphia area venture capitalist and computer industry lawyer and serves as General Counsel to Scherrer. His employment experience has included Lotus Development Corporation, where he served as Senior Corporate Counsel, and at Commodore International Limited where he was Assistant General Counsel and Assistant Secretary. Mr. Frederick has served on the advisory board since 1990. He is the founder and President, General Counsel Group, P.C., King of Prussia, PA, a nationally reported boutique law firm serving primarily as general legal counsel to emerging IT companies. His background also includes eight years of Wall Street corporate finance law practice, and eight years as second-chair in-house counsel in three public companies, with responsibilities in areas of securities, finance and marketing, distribution and strategic alliance transactions and IT transactions. He was a cofounder and the business model designer and chief marketing officer for ASSIGNED COUNSEL Incorporated during its growth from startup to the world's largest temporary professional services business in the lawyer vertical and an Inc. 500 company. Mr. Frederick is a support member of the Technology Council of Greater Philadelphia and was previously active with the M.I.T. Enterprise Forum. He is also legal counsel to the Pennsylvania Council of Growing Companies. William T. Spane joined the advisory board in 1998 and is the retired Chairman, and founder, of BHC Securities, Inc. a securities trading and broker dealer service bureau located in Philadelphia, PA. He is a 1958 graduate of the U.S. Naval Academy. From the time of his founding of BHC, he managed the growth of the company, through its IPO in 1993, and its subsequent acquisition and integration of companies such as TradeStar Investments, Internet brokerage firm Savoy, and the network development company NetVest, Inc, which was subsequently followed by its purchase by Fiserv, Inc. of Milwaukee, WI, in 1997. Following his retirement from Fiserv/BHC, he became employed by WR Hambrect + Co to establish a retail brokerage call center. He advises Scherrer in investment strategy, valuation, IPO preparation. Myrna Shinbaum - Media Consultant. Myrna is a veteran advertising sales professional, with nearly two decades of experience including both trade and consumer publications. As vice president of sales & marketing and associate publisher for Plaza Communications, she oversaw the sales and marketing functions for Registered Representative Magazine, the nation's leading monthly publication for retail stockbrokers. Under her guidance, annual advertising revenues for the company more than doubled. Registered Representative recently celebrated its 20th anniversary. In 1985, Ms. Shinbaum recruited Broker's Ally software for advertising, which enabled the product to become the leading product in that market. Ms. Shinbaum is a million dollar producer and active member of the Advertising Women of New York, the National Investor Relations Institute, The Financial Communications Society and the National Association of Female Executives. Jeffrey T. Harbison is a Philadelphia-based merger and acquisition specialist, having spent 5 years in this capacity at Advanta, 2 years at Pennwalt Corporation and 2 years at AdvaCare Inc. Jeff has an MBA from Wharton, JD from Michigan as well as a BA from Harvard. He currently is both co-founder of an e-commerce technology company and co-chairman of a manufacturing company. He is Founder and former CEO of Elity Systems, Inc., a data mining company for the brokerage industry. In 2001, Elity Systems was named Early Stage Company of the Year by the New Jersey Technology Council. He provides support to Scherrer in valuation, IPO and merger orientation and positioning. Steve Christiansen is the 1984 creator of Broker's Notebook, a PC based portfolio management software product he and his company migrated to become a product for Quotron, a current division of Reuters, Inc. After his employment with Reuters subsequent to that merger, he moved to the Brokerage Information Systems division of ADP, in Mt. Laurel, NJ, where he has been national account sales Vice President for their front office market data services. Following the successful move of ADP's market data business to Bridge Information Systems in early 1999, Steve completed his tasks for Bridge. He has now moved on to become a securities industry consultant and advisor to various information technology companies. Mr. Christiansen provides strategic positioning advisory services for Scherrer Resources, Inc. Mary Evans is a portfolio software and data management specialist, with experience that spans all areas of the investment management organization including: asset allocation, trading, accounting, performance, analysis, compliance, client service, and marketing. She also has had experience in portfolio management software development, including: design, selection, sourcing, installation, and operation. Formerly with Miller Anderson & Sherrerd (now a Morgan Stanley Company) then on to Glenmede Trust Company as their Vice President for Portfolio Administration, and currently as Director of Portfolio Administration for Philadelphia International Advisors. She advises Scherrer in markets and feature-set for its expanding line of portfolio management software. David A. Johnson is a Philadelphia area software developer, and investor in Scherrer Resources. He has been employed by Moore Products, Spring House, PA (later purchased by Siemens) where he lead teams as a software development manager and quality assurance specialist for their line of process control systems software. He is currently employed at Merck & Co. as a Quality Manager where he mentors software development teams, and provides guidance on FDA regulatory compliance issues for Merck's Clinical Trial System. Additional responsibilities include Quality System audits of software vendors, evaluation of CASE tools, and definition of corporate wide Software Life Cycle practices. He advises Scherrer Resources in software development and management techniques. Michael DiPuppo, Principal, Devon Financial Group, Ltd., King of Prussia, PA is a registered securities representative and has practiced for 20 years. He began his career with Hornblower, and expanded his business incrementally over the past 20 years first as an assistant, broker, then manager. He manages their firms sales force and assists Scherrer Resources in areas of product feature set, marketing direction, investor management and corporate valuation. Jason Olim has served on the advisory board since 1999. He is the founder and former CEO of CDNOW, Inc. since 1994. As CEO, he raised private capital, brought the company public on the NASDAQ, acquired two competitors and sold the company to Bertelsmann A.G., a global media company. He has a bachelor's degree in computer science from Brown University. Mr. Olim currently advises Scherrer on business matters. Joel Sussman has 20 years experience in finance, including CFO of CDNOW, where he oversaw venture financing, an initial public offering, a secondary offering, two public company mergers and a cash tender sale of the company. He has an MBA from The Wharton School and a BA from Yale University. He is a CPA and CMA. Mr. Sussman provides financial advice and venture funding perspective to the Company. Fred Godley - Business Advisor and major Investor. Formerly with major nuclear plant valve manufacturer, before merging company with Edison Electric. Currently acts as investment advisor, Director, and Advisory Board member. Often represented by daughter Betsy Sargent of West Chester PA on board. Scott Jenkins is the president of S. M. JENKINS & CO., where he and his team provide financial & management consulting services to publicly and privately held corporations, family groups and high net worth individuals. He is also General Partner of Jenkins Partners, L.P. He formerly worked at the First Boston Corporation as Vice President and at Goldman, Sachs. He is a graduate of The Wharton School, with a Master of Business Administration Degree, with distinction, 1984 and is a United States Naval Academy graduate with a Bachelor of Science Degree, with distinction, 1976. He provides investment advisory and business consulting guidance to Scherrer. James Steinke is an IT consultant in finance and has joined the advisory board in 2003. He is the former President & CEO of Securities Industry Software Corporation (SIS) and President of SunGard Brokerage Systems, Inc. (Phase3). He is now utilizing these skills and contacts to assist regional financial services firms in their technology and strategic decisions. He has major experience in the management and operation of securities' organizations. Has been responsible for corporate turn-arounds, building businesses from the ground up and financial restructuring of major financial services organizations. His concentration with Scherrer Resources is on building recurring revenue businesses that grow by enhancing customer opportunities, and structuring partnerships that result in strong mutual growth. Charles B. Landreth has been engaged in the securities business for over 35 years. He is a Partner in his family office, Wentworth Capital Partners, which is engaged in private investing. Charlie retired from Fiserv Securities where he was Senior Vice President, a member of the firm's Executive Committee and Director of Sales and Marketing. Prior to Fiserv, Charlie was employed by PNC Bank and its predecessor, Provident National Bank, in a variety of capacities including portfolio management, sales, and marketing, culminating in the position of Executive Vice President, Directo