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JANUARY 2008 |
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The Latest News
Pitch Dingman
Competition - Win up to $2,500 in awards
- The Dingman Center held its $2,500 Pitch
Dingman competition on Friday, December 14. The
Pitch Dingman Competition is held the last Friday of
every month and students compete for up to $2,500
for their business. Judges select the best pitches and audience members
choose their favorite pitch for a $250 "People's Choice Award."
Check out who won in
December's Competition!
Cupid's Cup is quickly
approaching - Cupid's Cup is an annual
business competition showcasing young entrepreneurs
from the University of Maryland. This competition is
made possible by one of UMD's most successful
entrepreneurs, Kevin Plank, CEO of Under Armour,
whose generous donation of $22,500 is awarded each
year to the 1st and 2nd place winning companies.
Please visit the site for more details on
how to enter!
Over $3 million raised
for Dingman Center Portfolio Companies -
Check out how much Exponential Storage,
Hook & Ladder Brewing Company, XTS and Zaracom have
all raised in funds for their businesses in the "Portfolio
Company Updates" section.
The University of
Maryland ranked 25th in MBA programs for
entrepreneurship in Women 3.0 - Women 3.0
Magazine revealed its listing of 50 top MBA programs
for entrepreneurship and the University of Maryland
was ranked 25th. To succeed in the ranking, schools
had to have a strong MBA program with a degree in
entrepreneurship or an entrepreneurship track with
talented faculty in the area of entrepreneurship.
Schools also had to have a wide variety of relevant
electives and established entrepreneurship
center/incubators. The complete list of schools will
appear in the February/March 2008 issue.
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Also Inside This
Issue...
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Pitch Dingman News
The Dingman Center for Entrepreneurship at the
University of Maryland’s Robert H. Smith School of
Business held its December $2,500 Pitch Dingman
competition on Friday, December 14, 2007. The judges
awarded $1,500 to Ben Solof and Steven Grella for
their Web site investment firm, Maverick
Development. Kevin Kirk won $500 for his business, A
Slice of Paradise, which sells accessories at
women-oriented sports event. David Wieseneck and Ben
Levine won $500 to produce Refrigerator Raiders, a
college-themed cooking show.
Audience members awarded an additional $250
“people’s choice” award to Solof and Grella for
their business pitch.
The Pitch Dingman Competition is a monthly
contest open to all members of the University of
Maryland community – including students, faculty and
staff – that is designed to promote entrepreneurship
and the launch of new businesses. The format allows
for a five-minute presentation of a business idea
followed by three minutes of questions and feedback.
Judges for this month’s competition included J. Alan
Hayman of Hayman Consulting Group, Dingman Center
Entrepreneur in Residence John LaPides, Dingman
Center Managing Director Asher Epstein and Dingman
Center Director of Venture Investments Melissa
Carrier.
Ben Solof and Steven Grella’s company, Maverick
Development,
builds professional, user-friendly Web sites
in specific niches that help users solve their
everyday problems. After launch, Maverick
specializes in facilitating aggressive search engine
optimization campaigns followed by sales of
advertising and products related to each site’s
content. Grella is senior economics major.
“The Dingman Center has been an invaluable
resource for generating unbiased feedback on
everything from small business questions to major
strategy dilemmas,” said Solof, a senior finance
major at the Robert H. Smith School of Business.
Since the summer of 2005, Kevin Kirk, a freshman
accounting/finance major, has sold
accessories at women-oriented sporting events with
his business, A Slice of Paradise. To date Kirk has
sold three product lines, which include handbags,
key chains and belts, at dozens of local and
regional sports tournaments. With his Pitch Dingman
award, Kirk will test his product line at the
country’s largest girls’ lacrosse tournament.
Seniors David Wieseneck and Ben Levine will use
their Pitch Dingman award to produce Refrigerator
Raiders, a cooking show hosted by, and directed
to, college students. Segments will feature meals
made using readily accessible ingredients that can
be prepared with a minimal amount of kitchen
equipment. Wieseneck is an accounting major.
“The Pitch Dingman opportunity was great because
it made us work hard to refine our concept and,
ultimately, gave us confidence in our ideas going
forward,” said Levine, a communications major.
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Portfolio
Company Updates
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XTS,
a software product firm offering
enterprise management products
for application and server
utilization platforms using a
fast and powerful business
intelligence engine, has raised
in the range of $750K.
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ZaraCom,
an independent developer
of Artificial Intelligence (AI)
products designed for use in the
wireless service markets in the
US and globally, has raised $1M.
Hook & Ladder Brewing Company received vast
attention from the media in the last few months.
Most recently in December, company representatives
were interviewed by
Marketwatch which
aired on December 8-9 on 250 of the top news radio
stations across the nation. Company representatives
were also interviewed by
Comcast which aired
on December 12 on Comcast CN8's "Art Fennell Show"
in the Virginia and Maine markets.
North Star Games, a
board game company that was incubated in the Dingman
Center, has the press going mad over their board
games now available at
Target. The
Washington Post,
Boston Herald and
San Francisco Chronicle
all featured the board game company as the
holiday season was approaching.
WiCult,
a developer of innovative
location-based services
leveraging mobile devices, is
currently seeking funding.
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Social Venture
Highlights
Advancing the social welfare of our community is
a critical component of being a successful business
leader and students seek this experience during
their educational years. The Social Venturing
Program's focus is on the nexus between businesses
and non-profit organizations. Through this program,
the Dingman Center is offering an array of programs
that benefit the public and private sectors,
students and the broader community.
The social venture program kick-off and
information session will be held on Monday, January
8 at 11:15 a.m. and 4:30 p.m. The room location is
TBD.
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CAN Companies
With its final breakfast of 2007 on December 12, investors in the
Capital Access Network will have reviewed ten
companies this fall. These Maryland, Virginia and
Washington, D.C. start-ups represent a wide range of
industries. Additional information on each
presenting company follows.
Cagic
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Cagic, a wholly-owned
subsidiary of
Dyscern, is focused on new products in the digital
picture frame marketplace with unique technology based on simple interfaces.
ContentNow
- ContentNow provides reseller services to
online subscription content providers, such as Napster and
Rhapsody, by arranging timely and relevant ad placement on
partner merchant websites.
Idalis Software
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Idalis Software offers a suite of data management
tools including the Anti-Spammer System, ViDentity,
BrowserSafe. The Anti-Spammer System provides a
globally connected URL or point-of-contact filter
and signature based “bot” tracking and blocking
system that provides spam filtering of 99.9%.
Inspire
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Inspire provides HIPPA compliant online health
communities for patients, their families and
caregivers. Using Inspire's platform,
disease-specific communities have a safe places for
members to find and support one another, share
stories, and share as much or as little personal
information as they wish.
IntelliGov - Intelligov
delivers a web-based software suite that automates many of
the city and county functions required to provide services to
citizens.
It allows city and county governments to measure,
track and manage the delivery of their services.
MAX Endoscopy
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MAX Endoscopy develops medical devices used in
gastrointestinal endoscopy and related
specialties. One product currently in development
has applications in the treatment of hemorrhoids;
assists a physician in performing a colonoscopy.
MDLogix
- Enterprise-level
software products and services from MDLogix help
health research institutions automate and integrate
complex health research and clinical care processes.
Founded in 1997, MDLogix combines industry expertise
with technology to provide tailored solutions to its
clients.
Snikiddy Snacks
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Founded in late 2006, Snikiddy Snacks provides a
variety of simple, organic healthy snacks. The
products are distributed through a variety of
channels including natural/specialty stores,
traditional grocery, mass/club distribution, and
schools/food service programs.
SwipePay Mobile
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SwipePay Mobile is mobile application and middleware
platform provider focusing on the largest cost
component of the prepaid reload component. Its
product is targeted towards mobile operators,
publishers/aggregators, and mobile subscribers.
Zymetis -
Zymetis has developed enzyme technologies
that will enable the commercial production of cellulosic
ethanol. These enzymes will be used to improve the production of biofuels.
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Dingman Center Events
Check out
Washingtonpost.com
to read an article by a reporter who attended a
Terps basketball game and mingled with entrepreneurs
such as Roger Frock, co-founder of FedEx, in a suite
hosted by the Dingman Center.
On Tuesday, December 4, the Dingman Center hosted a
Dingman Marketplace which featured a variety of
products from student-run businesses and Dingman
portfolio companies. Shoppers had a chance to
purchase items such as designer handbags, t-shirts,
board games and jewelry before they headed home for
the holidays. Many thanks go out to the following
companies for helping to make this event a huge
success: A Slice of Paradise,
Blumpari,
Crooked
Monkey,
Dayna Designs,
North Star Games,
Terrapin
Clothiers and
The Smith Store.
Not everyone can turn $100 into
a chain of four, thriving retail spaces; but Scott
Nash of My Organic Market (affectionately known as
MOMs) is one of those who can. In an entertaining
lunch hour, Nash shared his story, as well as some
of his insights into being an entrepreneur.
Twenty years ago Nash was an
energetic 22-year-old, running his organic food
mail-order/home-delivery business, Organic Food
Express, out of his mom’s garage. After two years of
toiling away in these cramped quarters, he opened up
a retail outlet in Rockville. Focusing on
high-quality organic produce, discounted prices and
exceptional customer service, Nash set up the
cornerstones for MOMs success. Through the years,
these distinguishing factors have remained integral
to MOMs’ growth, and they are strongly exemplified
in each of his four establishments.
To get to where he stands now,
Nash had to put a lot on the line. About every five
years, he claims he had to risk everything he had in
order to move forward. There were times when he
thought he might even have to sell his house to keep
afloat. When asked why he kept doing it, Nash
replied “It’s like breathing. When you have your own
business you just do anything you can for it.”
It’s this mindset that
encapsulates why he is an entrepreneur. For Nash,
starting his own business was really the only option
he had for a career. Throughout his life, he always
got in trouble for “mouthing-off” at work because he
felt he could run the business better. So instead of
continuing to criticize his bosses, he became his
own; and it was one of the best decisions he ever
made. “There’s never been a day when I felt like
calling in sick,” he says.
The energy Nash has for his
business is evident in the strong environmental
mission that MOMs has taken on. In their corporate
statement, they assert that “restoring the
environment is the number one reason for their
existence.” While many companies claim this, Nash
genuinely lives by it. He believes that “walking the
walk” is what sets him apart from other organic
markets. Not only do his stores operate on 100% wind
power, but he also has employees pay attention to
the little details, such as checking customers’ tire
pressure to make sure they get efficient gas
mileage. It’s this dedication to the environment
that impresses MOMs’ customers and keeps them coming
back.
Due to MOMs’ success, there
will always be imitators cropping up trying to steal
some of the organic market. However, Nash feels very
few will ever be able to accomplish what MOMs has
simply because he did it first. By sticking to his
principles, Nash has proven himself as inspiration
to aspiring entrepreneurs, and someone the
University of Maryland should be very proud to call
him an alumnus.
EWB Lighting Africa Project - Jason Lee, Christen
Hartnett, Girish Jaguste
By Christen Hartnett
In January of 2007, The
University of Maryland chapter of Engineers without
Borders traveled to Dissin, Burkina Faso to install
a single solar powered lighting solution in a local
community center. The purpose was to provide access
to an efficient, safe lighting source. The test
system was a success and Engineers without Borders
looked for options to extend the solar lighting
system into other villages.
Currently, the World Bank has
undertaken the Lighting Africa initiative, which
aims to provide 250 million people in Sub-Saharan
Africa with access to non-fossil fuel, low cost,
safe, and reliable lighting by the year 2030. As
part of this initiative, the World Bank has created
a grant competition to elicit innovative proposals
for off-grid lighting solutions that are sustainable
and replicable. One of the requirements for
entering the World Bank grant competition is
demonstrating the projects economic benefits and
viability using a business plan and financial
modeling. When Jungho Kim, a professor of the
mechanical engineering department at the University
of Maryland, and the faculty sponsor of the project,
learned of the Lighting Africa Grant Competition, he
reached out to the Smith school. Our responsibility
is to provide the business plan for the proposal and
investigate the financial feasibility of expanding
the solar powered lighting solution they implemented
to a self-sustaining enterprise.
The business uses solar panels
to generate power for the community center and
charge a bank of car batteries. The business would
generate revenue by renting the charged batteries,
charging a fee for recharging cell phones and
increasing the rental fee of the community center.
The charged batteries would power a florescent
lighting system in individuals’ homes. Because of
the health effects associated with kerosene as well
as the costs associated with fossil fuels, the
fluorescent lamps present a more energy and cost
efficient lighting option. In addition, the
fluorescent lamps provide more light than the
kerosene lamps and would allow the villagers to
participate in extra income generating activities
after the sun goes down.
The key elements for analyzing
the viability of this business plan are to project
both the market demand and price that consumers
would be willing to pay for this service. As such,
the primary task of our team when traveling to
Dissin is to perform market research. Through
various methodologies, we hope to gain a better
understanding of the lighting usage and amount that
villagers are willing to spend.
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Partner
Events
Are you or your clients contemplating market
opportunities in China? What are the opportunities?
How do you manage risk? Where do you get started?
What types of ventures work best? Expand your
knowledge and business contacts in this area.
Connect with and learn directly from a unique
gathering of Chinese and local business leaders,
high-level embassy officials and nationally
recognized experts in this market.
Date:
Thursday, January 24, 2008
Time:
7:30 a.m. - 5:15 p.m. (reception to follow)
Location: Hilton McLean, Tysons Corner, VA
To
register, please visit the
Business Alliance
Web site. Breakfast, lunch, reception, keynotes and
six sessions full of information are all part of the
agenda, as detailed on the Web site.
Any
student, in any major, from any year, currently
attending a degree granting institution in Delaware,
the District of Columbia, Maryland, Virginia or West
Virginia Or having earned a degree from one of those
schools in the past twelve months) may enter or form
teams. This event is hosted by the MIT Enterprise
Forum of Washington-Baltimore. Undergraduate and Graduate students are both
eligible.
Register today!
Deadlines:
- Sunday, March 9, 2008 (Executive Team Registration &
Executive Summary Submission)
- Monday, March 24, 2008 (Semi-Finalist Notification)
-
Saturday, April 26, 2008 (Semi-Final & Final Rounds at
Georgetown University,
Washington, D.C.)
ACTiVATE is a practical, hands-on training
program that is sponsored by the National Science
Foundation to teach women scientists and business
people to start technology companies. The program is
recruiting women with strong technical or business
experience.
The ACTiVATE Program at the
techcenter@UMBC
is accepting applications for its fourth year.
Classes begin Monday, February 4. Interested in
attending a free information session? Please contact
nan@umbc.edu. IUSA is
the Internet Reality Show Company and the founder of
a new world of interaction, learning and
entertainment on the web. We are all aware of the
exceptional reach and power of social networks and
the immense popularity of reality shows. Until now,
there hasn't been a way to combine the two
entertainment mediums while placing power in the
hands and minds of the members. IUSA has done all of
this and also created sites that give back to the
community, allowing members to become involved
philanthropically. The flagship site (www.yobiverse.com)
will host an Internet reality show contest, led by
celebrities and students, that will create awareness
of global issues and stress the importance of new
innovation. Applications are now being accepted for
the first Innovation contest. Apply
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Spring 2008 Calendar
The CAN Breakfasts are by invitation only to angel
investors who are qualified investors in the CAN network.
Investors will have an opportunity to hear a 10 minute
presentation from approximately four start-up entrepreneurs
who are seeking funding for their business. For more
information on the CAN Program and to participate, contact
Melissa Carrier.
Wednesday, January 30
9:30 a.m. - 11:30 a.m.
Room
TBD
Wednesday, March 12
9:30
a.m. - 11:30 a.m.
Room
TBD
Wednesday, April 30
9:30
a.m. - 11:30 a.m.
Room
TBD
Wednesday, June 11
9:30
a.m. - 11:30 a.m.
Room
TBD
Students and faculty are invited to hear start-up
companies present to our Entrepreneurs-in-Residence
and Dingman staff as they prepare for Capital Access
Network angel investor presentations. Listen to feedback
by our experts, give some advice of your own, and learn
about some of the new businesses being started today.
It's a great experience for everyone!
Friday, January 11
9:00 a.m. - 12:00 p.m.
2505 and 2511 VMH
Wednesday, February 13
9:00
a.m. - 1:00 p.m.
Room
TBD
Wednesday, April 9
9:00
a.m. - 1:00 p.m.
Room
TBD
Wednesday, May 14
9:00
a.m. - 1:00 p.m.
Room
TBD
Cupid's Cup is an annual business competition
showcasing young entrepreneurs from the University
of Maryland. This competition is made possible by
one of UMD's most successful entrepreneurs, Kevin
Plank, CEO of Under Armour, whose generous donation
of $22,500 is awarded each year to the 1st and 2nd
place winning companies. Winners of the 1st Annual
Cupid's Cup were North Star Games founded by two
former Smith MBA students and past Dingman Scholars.
Friday, April 11
2:00 p.m. - 5:00 p.m.
Frank Auditorium and the Atrium
These catered luncheons are open to all
University of Maryland students. Successful
entrepreneurs will talk about their experiences and
answer questions from the audience.
Friday, February 8
12:00 p.m. - 2:00 p.m.
Room TBD
Friday, April 25 (immediately following the
Pitch Dingman Competition)
12:00 p.m. - 2:00 p.m.
Room TBD
The Mentor Program is an innovative consulting service
for entrepreneurs and small-medium businesses that assists
companies in identifying solutions to business problems
with the support of experienced, senior management professionals.
Resumes Regularly on Tuesday, January 15
8:00 a.m. - 11:00 a.m.
3570 VMH
Students are invited to pitch their ideas to the
Dingman Center every Friday between 11:00 a.m. and 1:00
p.m. Each student will have 5-10 minutes to give an
overview of their business idea and Dingman Center staff/EIRs
will provide immediate feedback. Business ideas found
viable will find further support in the Dingman Center.
Resumes Regularly on Friday, January 25
11:00 a.m. - 1:00 p.m.
3570 VMH
Similar to the Pitch Dingman reviews. Business
ideas found viable will find further support in the
Dingman Center and will also be awarded with a prize
of up to $2,500.
Friday, February 29
11:00 a.m. - 12:00 p.m.
Room TBD
Friday, March 28
11:00 a.m. - 12:00 p.m.
Room TBD
Friday, April 25
11:00 a.m. - 12:00 p.m.
Room TBD
Friday, May 16 (last competition for the school
year)
11:00 a.m. - 12:00 p.m.
Room TBD
Advancing the social welfare of our community is
a critical component of being a successful business
leader and students seek this experience during
their educational years. The Social Venturing
Program's focus is on the nexus between businesses
and non-profit organizations. Through this program,
the Dingman Center is offering an array of programs
that benefit the public and private sectors,
students and the broader community.
MBA Spring Project Kick-Off (MBAs only)
Monday, January 28
11:15 am and 4:30 p.m.
3570 VMH
See what's on the horizon in the world of
technologies. These panel discussions will look at
some of the cutting edge trends and innovations to
come to market. Learn how these technologies are
going to affect healthcare, entertainment, financial
services, defense, media, and the entire range of
human interaction.
Wednesday, March 5
8:00 a.m. - 11:00 a.m.
Room TBD
Wednesday, April 23
8:00 a.m. - 11:00 a.m.
Room TBD
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Dingman Center
Programs
Got a business idea? Want free advice from seasoned
entrepreneurs? Join us every Friday from 11:00-1:00
p.m. to pitch your business in five minutes, no appointment
necessary. Your next opportunity to win up to $2,500 at the
Pitch Dingman Competition is on December 14 at 11:00
a.m. Please note that registration
is required for the Pitch Dingman Competition dates.
For more information, e-mail
PitchDingman@rhsmith.umd.edu.
In partnership with tech councils, incubators, and
state-funded institutions, the Capital Access Network
(CAN) enables entrepreneurs of start-up companies in
Maryland, Washington DC, Virginia, and Delaware to connect
with active, accredited angel investors. The purpose
of (CAN) is to provide open
and efficient access to early-stage capital for entrepreneurs
in the DC Metro area. This year's sponsors are: Morrison
& Foerster LLP, Deloitte, Silicon Valley Bank, and Emerging
Technology Centers. To apply for potential exposure
to capital and investor coaching, email
Melissa Carrier.
If you are interested in attending presentations by
entrepreneurs and hearing feedback from Dingman's Entrepreneurs-in-Residence,
attend the next CAN Review Day(student audience only please).
The Mentor Program at the Dingman Center is an innovative consulting service for entrepreneurs
and small-medium businesses that assists companies in
identifying solutions to business problems with the
support of experienced, senior management professionals.
Office hours are every Tuesday from 8:00 a.m. - 11:00
a.m. Contact
Melissa Carrier
for an appointment, to set up a session, or for more
details. Additionally, consultative services will be
available for select companies looking for longer-term
support from mentors at $250/hour payable to the Dingman
Center.
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Buy Your Smith-Branded Merchandise at the Smith
Store
 Your
VIP visitors and departmental guest speakers should
leave Smith with an elegant Smith-branded gift as a
thank you for their visit, and The Smith Store is THE
place to go for these items. The Smith Store has been
working hard to develop a selection of high-quality
merchandise that will be appreciated, displayed and
used back in your visitor's home or office. With two
weeks notice, the "sky is the limit" in terms of item
selection. If you are short on time the Smith Store
has in stock.
There are a few great products in stock now, ranging
in price. The Smith Store has newly designed T-shirts,
sweatshirts, hats, coffee mugs, coffee thermoses, wine
openers and many more items to come. Always available
from The Smith Store is the Smith polo shirt, available
for $25.00, or brown leather money clip wallets for
$15.00.
Questions? Contact Tarak Dave at
tarakd@umd.edu.
The Smith Store is located in 3570-U, in the Dingman
Center for Entrepreneurship. The hours of the Smith
Store vary and appointments are always available to
meet your needs.
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The Dingman Center for
Entrepreneurship
Founded by Rudy Lamone in 1986, the Dingman Center
was one of the first of its kind in the country and
has emerged as a top-ranked entrepreneurship center.
Thanks to initial funding with a generous grant from
Michael D. Dingman, founder of the Signal Corporation
(now part of Honeywell International), the Dingman Center
continues to grow as a regional and national catalyst
in the field of entrepreneurship. The Center is now
aggressively evolving, and in some areas, is expanding
its services to further its role as a leader in the
student, regional, and academic entrepreneurial communities.
The Dingman Center is currently led by:
Asher Epstein, Managing Director
Melissa Carrier, Director of Venture
Investments and Social Entrepreneurship and
Acting Director, Office of Career
Management
Mr. John LaPides, Chairman of the Board and Entrepreneur-In-Residence
Please visit our Web site at
http://www.rhsmith.umd.edu/dingman.
Past Newsletters:
-
December, 2007
-
November, 2007
-
October, 2007
-
September, 2007
- August, 2007
- July, 2007
- June, 2007
- May, 2007
- April,
2007
- March, 2007
-
February, 2007
-
January, 2007
-
December, 2006
-
November, 2006
-
October, 2006
-
September,
2006
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August, 2006
-
July, 2006
-
June, 2006
-
May, 2006
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April, 2006
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March, 2006
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February, 2006
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January, 2006
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