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STAFF at City, University of London, accused management today of bullying them into breaking the national lecturers strike by threatening to lumber striking workers with huge legal costs. Students being charged sky high tuition fees at a number of universities have called for their institutions to compensate them for lost contact hours. At City, more than a thousand students are thought to have signed a petition demanding a rebate of 1,295 for the University and College Union UCU 14 day strike over pensions. The college management wrote to staff today, telling them that striking lecturers may be personally liable for any damages if sued by students. Individuals choosing to take part in this industrial action will need to be aware that City reserves the right to join an individual member of staff as a party to any claims for damages made against City that have arisen as a result of non performance of their duties, for example, claims from students, the memo said. Legal sources said it was doubtful that such lawsuits could succeed.

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We have a limited operatinghistory and our business and prospects must be considered in light of the risks and uncertainties to which early stage companiesare exposed. We cannot provide assurances that our business strategy will be successful or that we will successfully address thoserisks and the risks described herein. Most important, if we are unable to secure future capital, we may be unable to continueour operations. We may incur losses on a quarterly or annual basis for a number of reasons, some of which may be outside our control. As an emerging growth company withinthe meaning of the Securities Act, we will utilize certain modified disclosure requirements, and we cannot be certain if thesereduced requirements will make our common stock less attractive to investors. We are an emerging growthcompany within the meaning of the rules under the Securities Act. We have in this prospectus utilized, and we plan in future filingswith the SEC to continue to utilize, the modified disclosure requirements available to emerging growth companies, including reduceddisclosure about our executive compensation and omission of compensation discussion and analysis, and an exemption from the requirementof holding a nonbinding advisory vote on executive compensation. In addition, we will not be subject to certain requirements ofSection 404 of the Sarbanes Oxley Act, including the additional testing of our internal control over financial reporting as mayoccur when outside auditors attest as to our internal control over financial reporting, and we have elected to delay adoptionof new or revised accounting standards applicable to public companies. As a result, our stockholders may not have access to certaininformation they may deem important. In addition, Section 107of the JOBS Act also provides that an emerging growth company can utilize the extended transition period provided in Section 7a2Bof the Securities Act for complying with new or revised accounting standards. Thus, an emerging growth company can delay the adoptionof certain accounting standards until those standards would otherwise apply to private companies.

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