Since its inception in 1998, CRS has   become a leader in the emerging, rapidly-   growing market of high efficiency light-   emitting-diode (“LED”), or solid   state lighting   (“SSL”). The principal   activities of CRS  include the development, manufacture and  sale, primarily in North America, of  indoor and outdoor lighting such as LED  replacement lamps, LED streetlights,  exterior LED warning lights on school  buses,  child safety systems for school  buses and contract manufacturing of LED  circuit boards. CRS is a well-established  supplier to both the school bus industry and  the LED contract manufacturing industry, providing a stable and growing revenue source. CRS plans to be a major supplier of LED light engines for a variety of applications to be developed by CRS on its own and in conjunction with its customers. Several of CRS’s customers use CRS LED MR16 lamps to replace up to 50 watt halogen MR16’s.