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<br />MORRISON, BROWN, ARGIZ & FARRA, LLP
<br />
<br />
<br />REPORT OF INDEPElV7JENT CERTIFIED PUBLIC ACCOUNTANTS
<br />
<br />To the Board of Directors
<br />Bermello, Ajamil & Partners, Inc.
<br />
<br />We have audited the accompanying balance sheets of Bermello, Ajamil & Partners, Inc. as of December
<br />31, 2005 and 2004, and the related statements of operations, changes in stockholders1 equity, and cash
<br />flows for. the years then ended. _ These financial statements are the responsibility of the Company's
<br />management.' Our responsibility is to express an opinion on these financial statements based on our
<br />audits.
<br />
<br />We conducted au{" audits in accordance with auditing standards generally accepted in the United States
<br />of America, Those standards require that we plan and perform the audit to obtain reasonable assurance
<br />about whether the financial statements are free of material misstatement. An audit includes examining,
<br />on a test basis, evidence supporting the amounts and disclosures in the financial statements, An audit
<br />also includes assessing the accounting principles used and significant estimates made by management, as
<br />wen as evaluating the overall financial statement presentation, We believe that our audits provide a
<br />reasonable basis for our opinion.
<br />
<br />In our opinion, the financial statements referred to above present fairly, in all material respects, the
<br />financial position of Bermello, Ajamil & Partners, lnc, as of December 31, 2005 and 2004, and the
<br />results of its operations and its cash flows for the years then ended in conformity with accounting
<br />principles generally accepted in the United States of America.
<br />
<br />These fmancia1 statements were prepared for use of the State of Florida Department of Transportation,
<br />These financial statements do not include the Consolidation of the New York entity as required under
<br />Financial Accounting Standards Board Interpretation No. 46R, "consolidation of variable interest
<br />entities" ,
<br />
<br />It~r/"J'~ 2~-1" 4.J' L
<br />
<br />f ~r~ C if
<br />
<br />/
<br />
<br />Miami, Florida
<br />April 7, 2006
<br />
<br />\-"':\\'\',.:ilha !1:pa.<':l)m
<br />
<br />1001 Brickell Bay Drive, 9th floor
<br />Miami, Florida 3313]
<br />Td: 305-373-5500 Fax: 305.373.0056
<br />
<br />301 East Las Olas Blvd., 5th floor
<br />Ft. Lauderdale, Florida 3330 I
<br />Tcl: 954-760-9000 Fax: 954-760-4465
<br />
<br />1113 Spruce Street, Suite 502
<br />Boulder, Colorudo 80302
<br />Tel: 303-381-2.~<,O Fa);: 301-3S!.:>:i'::1
<br />
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