To the knowledge of HCM, HCM has complied with all applicable statutes and regulations of any federal, state, or other governmental entity or agency thereof, except to the extent that noncompliance would not materially and adversely affect the business, operations, properties, assets, or condition of HCM or except to the extent that noncompliance would not result in the occurrence of any material liability for HCM. This compliance includes, but is not limited to, the filing of all reports to date with federal and state securities authorities.