501(c)(3)

Sea•thos Foundation is a non-profit public benefit corporation formed under the laws of California. Sea•thos incorporation documents confirm that it is organized exclusively for charitble purposes within the meaning of the Internal Revenue Code section 501(c)(3), and that it is irrevocably dedicated to charitable purposes. Notwithstanding these commitments, Sea•thos does not automatically receive federal tax-exempt status. Sea•thos is presently in the process of applying for status as a federal tax-exempt public charity under Section 501(c)(3) of the Internal Revenue Code. While Sea•thos' application is pending with the Internal Revenue Service, donations made by individuals and legal entities may be treated as tax deductible by the donor. It is important to note that, if Sea•thos' exemption is denied for any reason, donors would not be able to claim a deduction as a result of the donation, and any donor who previously submitted a federal income tax return that reflected the donation as a charitable deduction would be required to revise that return. However, in light of its stated purpose, and its application, Sea•thos is confident that it will receive a favorable determination letter from the IRS by Q2 of 2011 - although it is not possible to provide a guarantee with respect to the outcome of the Internal Revenue Service's process.