Wawona Worldwide Capital, LLC (the "Company") was formed and registered with the Connecticut Secretary of State as a limited liability company on October 3, 2003 to address the growing need for financing from our clients. The Company is a prominent source for finance that advises on real estate, corporate finance, mergers and acquisitions, and raises capital through third parties for middle market companies and developers and project sponsors located in North and South America. The Company works with emerging growth companies in the real estate, retail, financial services, energy, healthcare and technology sectors. The Company arranges financing for all types of real estate projects and developments and also advises on project financings for clients in the oil and gas and power segments.

Judy Bao-Shan Liu
Chief Financial Officer of Wawona Worldwide Capital, LLC

	Judy Liu

Ms. Liu is the Chief Financial Officer of Wawona Worldwide Capital, LLC. Ms. Liu has been actively managing portfolios of hedge funds since 1994. At Invus Financial Investment Managers ("Invus") in New York, Ms. Liu evaluated and reviewed approximately 400 global hedge fund managers to identify asset allocation opportunities with the goal of improving the risk/reward and correlation profile of existing portfolios and a $250 million fund of funds. At Invus she worked for five years to achieve an average annualized return of 17%, an average annualized standard deviation of 5% and a Sharpe ratio of 2.4 for a fund of funds of $250 million. Previously, she was part of a select investment strategy team at Smith Barney Harris Upham & Co., where she undertook the analysis of investment strategies of select outside traditional money managers to market their investment services to clients. At that time she assisted Smith Barney to grow their consulting product to $1 billion dollars in assets under management. At Smith Barney she reviewed the risk/reward profiles of approximately 200 traditional money managers. She also evaluated money manager portfolio performance through the use of time-weighted, risk/reward, monthly and quarterly market indices as benchmarks for comparison of investment performance.

Since 1998, she has advised wealthy Asian and Latin American families and private bankers on hedge funds and funds of funds with her own practice. Ms. Liu has 17 years of portfolio management experience. In 1998, she left Invus and formed ACAE, LLC. She managed approximately $5 million in assets in 1998. Today she manages more. Ms. Liu is currently located in Stamford, Connecticut. Early in 2000 she set up ACAE Offshore Fund of Funds, Ltd. in the Cayman Islands. The first fund of funds, Series I, started shortly after on June 1, 2000 with $12,000,000 under management. Series I continues to be open to selected investors. ACAE is currently structuring and marketing new structured funds and portable alpha strategies. Accredited investors can learn more about Series I by visiting www.acaefof.com and answering the accredited investor questionnaire.

Ms. Liu is a member of the CFA Institute. Ms. Liu completed Investment Analysis at Harvard University and passed Level I of the CFA program and she was graduated from Pace University with a B.A. in Finance. Ms. Liu is fluent in Mandarin Chinese and conversational in Spanish.

Judy Bao-Shan Liu
E-mail: judy@wawonawc.com
Tel: 203-329-4075

Michael G.S. Kondracki
Founder and Chairman, President & CEO of Wawona Worldwide Capital, LLC

	Michael Kondracki

Mr. Kondracki has over 20 years of experience as an investment banker in financing corporations, industrial projects and real estate developments. At Wawona, Mr. Kondracki has focused primarily on commercial real estate and selected corporate financings. He is expert in structuring financings that meet the varied needs of developers and investors worldwide. Mr. Kondracki has developed unique programs to finance up to 100% of the acquisition and development costs of various types of real estate projects. He has also forged strategic relationships with various financing sources.

Prior to forming Wawona Worldwide Capital, LLC, Mr. Kondracki worked for Deutsche Banc Alex. Brown ("DBAB"), the U.S. investment banking division of Deutsche Bank, A.G., where he was a Director, originating and executing financings for companies and projects in North and South America. At DBAB, Michael held a range of positions, including service as the Director of Project Finance for the Southern Cone based in Buenos Aires, Argentina from 1998-2000. He was successful in co-originating the $2.7 billion Advisor/Arranger mandate for the MercoSur Energy Project, the $2.5 billion Barracuda and Caratinga project financing for Petrobras in Brazil, and the Arranger mandate for the $350 million Gasoducto del Pacifico project financing for TransCanada in Chile. He was also very active in advising large oil and gas companies on their financing plans for various assets in the Southern Cone. In particular, he led the team that advised Transportadora de Gas del Norte on its successful financing of the first natural gas export pipeline to Brazil from Argentina.

Prior to joining DBAB, Mr. Kondracki was a Vice President at Prudential Securities Inc., ("PSI") where he originated and executed corporate financings for emerging growth issuers in North and South America. At PSI, Michael originated and executed initial public equity offerings for a dozen companies, including CCU and Concha y Toro, the largest brewery and winery of Chile, respectively, and Simec, the largest steel mini-mill operation in Mexico. He also co-led the team that privatized Ecuador's national airline - Ecuatoriana de Aviacion, and completed six debt capital markets issues, including the sole management of the first subordinated Eurobond debt issue for a Latin American bank - Banco Quilmes of Argentina.

From 1984 to 1990, Mr. Kondracki held positions at Citibank in Leveraged Finance, at Manufacturers Hanover on the Ecuadorian and Peruvian debt restructuring negotiations and in Oil the Gas Department, and at the Inter-American Development Bank working with the National Water Company - ANDA - of El Salvador. He closed various advisory and financing assignments at each institution. He is on the roster of Consultants to the U.S. Department of State.

Mr. Kondracki was graduated from University of Scranton magna cum laude with Honors in 1982, completed a Fulbright Scholarship in Lima, Peru under the auspices of the Pontificia Catolica Universidad de Lima in 1983 and received his MBA from the Stern School of Business at New York University in 1991. Mr. Kondracki is fluent in Spanish and conversant in Portuguese. He serves as the Chairman of the Board of ACAE Offshore Fund of Funds, Ltd. and has taken and passed his Series 7, 63 and 65 examinations for registration as a general securities representative and advisor. Mr. Kondracki is the spouse of Ms. Liu.

Michael G.S. Kondracki
E-mail: michael@wawonawc.com
Tel: 203-329-8045

Robert A. Schaffer
Vice President of Wawona Worldwide Capital, LLC

	Robert Schaffer

Mr. Schaffer joined Wawona Worldwide Capital, LLC as a Vice President in July, 2007. Prior to coming to Wawona, Mr. Schaffer has been a Senior Mortgage Underwriter for the last 16 years at such mortgage houses as Fremont Investment and Loan, Argent Mortgage Co., JP Morgan Chase, Upland Mortgage, Advanta Mortgage Corporation, Aames Capital Corporation, Fleet Bank and Frankel Financial Corp. He has underwritten over $500MM in residential and commercial mortgages nationwide throughout his career. He has closed $50MM of commercial loans for multifamily apartments, shopping centers and office buildings. He has also secured working capital and equipment financing for various clients. Mr. Schaffer has serviced loan portfolios of up to $2 billion. He is an expert in quality control, risk management and financial analysis.

Mr. Schaffer graduated from the University of Pittsburgh, Pittsburgh, PA with a B.A. in Communications in 1984. After graduation he joined the United States Navy as an electronics technician, where he served for 3 years and received an honorable discharge. He subsequently completed an MBA in Accounting at the University of New Haven in West Haven, CT in 1990.

Robert A. Schaffer
E-mail: robert@wawonawc.com
Tel: 203-329-8403