RELEASE MANAGEMENT AND COST REPORTING

Clause 1 – “Scope of this Agreement,” Section C, “Other Conditions,” Part 10, “Release Closeout.”

Aura Electric Inc practices General Accounting Procedures through the Quick Books Pro Accounting software. Each project is received and immediately identified by a project number which is entered into the software. Material, labor, rental equipment etc. is dedicated to a specific project number under the approval of the project manager. Material and rental equipment invoices are data entered upon receipt, labor data is entered on a weekly basis. The software will compute a cost analysis, percent complete, and overhead burden determined by data entered budget amounts. Project cost analysis and reporting is monitored on a daily basis through the cost analysis software.

Aura Electric Inc employees attend weekly meeting with project managers to determine the current week scope of work to be performed. Tasks are identified with attainable of completion. These goals of completion are then communicated with the subcontractors with cohered strategies.

Aura Electric Inc. will provide the subcontractors a “punch list” with any unattended scope of work. With close supervision and inspection it is the intention of Aura Electric Inc. to bring the project to full closure by the projected date at which time any retention help for completion will be released.

Aura Electric Inc. will provide a completed closeout notification for the COA and invoice the work request within 10 days after completion date.

Aura Electric Inc. currently has a website under construction at www.auraelectrical.com and is entertaining the idea of installing a link for projects with an up to date cost analysis report.