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GRASSI & CO. Accountants and Success Consultants® INDEPENDENT AUDITORS' REPORT To The Stockholder Underwater Engineering Services, Inc. Fort Pierce, Florida Accounting, Auditing, Tax, Litigation Support, Valuation, Management & Technology Consulting We have audited the accompanying financial statements of Underwater Engineering Services, Inc., which comprise the balance sheets at December 31, 2017 and 2016, and the related statements of income, changes in stockholder's equity, and cash flows for the years then ended, and the related notes to the financial statements. Management's Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditors' Responsibility Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. 1 «ww.grassicpas.com An Independent Finn Associated with Moore Stephens International Limited 50 Jericho Quadrangle, Suite 200 Offices: Park Ridge, NJ Jericho, NY 11753 New York, NY White Plains, NY (516) 256-3500 0 Fax (516) 256-3510 Jericho, NY Ronkonkoma, NY