Michael Paulenoff has been a student of and a participant in the world financial markets for the past 25 years, since his graduation from the Georgetown University. Early in his career he analyzed the fundamental and technical aspects of the financial and commodity futures markets for Smith Barney, Harris Upham, and Drexel, Burnham, Lambert. From 1988 to 1993, he was President of MJ Capital Inc., a market analysis and trading firm, which advised clients involved in the financial futures and commodity markets. Republic National Bank recruited Mr. Paulenoff in January 1994, for the position of strategic trader, and market analyst on the bank's trading floor, which included analysis and trading of instruments in foreign exchange, emerging markets, stock indices, and precious metals. In February 1999, Michael founded MJP Market Strategies, Inc., a financial market advisory firm. In addition, from August 2000 through August 2001, he was the chief on-air market consultant and strategist for JAGfn, a live, daily 8-hour financial market webcast and cable TV show produced by Jagnotes, Inc.