Independent Auditor's Report

Moss Adams LLP has audited the consolidated balance sheets of Tree Top, Inc. and subsidiaries, as of July 31, 2005, and 2004, and the related consolidated statements of net proceeds, cash flows, amounts due members from operations, and changes in members' equity for the years then ended. The statements were prepared in accordance with generally accepted accounting principles. Such consolidated financial statements and Moss Adams' report, expressing an unqualified opinion, are not presented here, but are available to any member upon request as indicated in our Financial Report.

The accompanying condensed financial statements are the responsibility of the Company's Management. Management has prepared the statements from the detail of the audited financial statements and believes they are consistent with those statements in all material respects.