Security
Type

Security
Class
Title

Fee
Calculation
or Carry
Forward
Rule

Maximum
Aggregate
Offering
Price^(1)(2)(3)

Fee Rate

Amount of
Registration Fee

Newly Registered Securities

Fees to be Paid

Equity

Common Shares without par value

(1)

$14,285,714

.0000927

$1,324.29

Equity

Underwriter's warrants

(1),(4)

-

-

-

Fees to be Paid

Equity

Common shares issuable upon exercise of underwriter's warrants⁾

(1),(5)

$714,286

.0000927

$66.21

Total Offering Amounts

$15,000,000

$1,390.50

Total Fees Previously Paid

Net Fee Due

$1,390.50

(1)

Estimated solely for the purpose of computing the amount of the registration fee pursuant to Rule 457(o) under the Securities Act of 1933, as amended.

(2)

Includes the price of additional common shares that the underwriter has the right to purchase to cover overallotments, if any. See "Underwriting"

(3)

Pursuant to Rule 416 under the Securities Act of 1933, as amended, this registration statement also registers such indeterminate number of common shares as may become issuable after the date hereof, as the same may be adjusted as a result of stock splits, stock dividends, recapitalizations or similar transactions.

(4)

No additional registration fee is payable pursuant to Rule 457(g) under the Securities Act of 1933, as amended

(5)

Represents warrants issuable to Maxim Group LLC, or its designees (the "underwriter's warrants") to purchase a number of common shares equal to 5.0% of the number of common shares included in the Common Shares being offered (including common shares that the underwriters have the right to purchase to cover overallotments) at an exercise price equal to 110% of the public offering price per common share. Estimated solely for the purpose of calculating the registration fee pursuant to Rule 457(g) under the Securities Act of 1933, as amended, based on an estimated proposed maximum aggregate offering price of the representative warrants of $, or % of $ (% of $). Assumes the full exercise of the underwriter's over-allotment option.