0001019687-11-002737.txt : 20110819 0001019687-11-002737.hdr.sgml : 20110819 20110819132428 ACCESSION NUMBER: 0001019687-11-002737 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 11 CONFORMED PERIOD OF REPORT: 20110630 FILED AS OF DATE: 20110819 DATE AS OF CHANGE: 20110819 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Clavis Technologies International Co., Ltd. CENTRAL INDEX KEY: 0001482550 STANDARD INDUSTRIAL CLASSIFICATION: COMMUNICATIONS EQUIPMENT, NEC [3669] IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 000-54055 FILM NUMBER: 111046866 BUSINESS ADDRESS: STREET 1: 1564-1, SEOJIN BLDB, 3RD FLOOR STREET 2: SEOCHO3-DONG, SEOCHO-GU CITY: SEOUL STATE: M5 ZIP: 137-874 BUSINESS PHONE: 775-882-7549 MAIL ADDRESS: STREET 1: 1564-1, SEOJIN BLDB, 3RD FLOOR STREET 2: SEOCHO3-DONG, SEOCHO-GU CITY: SEOUL STATE: M5 ZIP: 137-874 10-Q 1 clavis_10q-063011.htm FORM 10-Q clavis_10q-063011.htm
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 10-Q
(Mark One)
x
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 
 
For the quarterly period ended June 30, 2011
 
OR

o
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission File Number:  000-54055
 
CLAVIS TECHNOLOGIES INTERNATIONAL CO., LTD. 
(Exact name of registrant as specified in its charter)

         
 
NEVADA
  
27-1505309
  
 
(State or other jurisdiction of
  
(I.R.S. Employer
  
 
incorporation or organization)
  
Identification No.)
  

#1564-1, Seojin Bldg., 3rd Floor, Seocho3-Dong, Seocho-Gu, Seoul, Korea 137-874 
(Address of principal executive offices)

(011) 82-2-3471-9340
(Registrant’s telephone number)

Indicate by check mark whether the registrant:  (1) has filed all reports required to be filed by section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.  Yes x   No o

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (Section 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).  Yes o  No o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a small reporting company.  See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.
 
Large accelerated filer      o Accelerated filer                          o
Non-accelerated filer        o Smaller reporting company        x
 
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes o   No x
 
As of August 19, 2011, the registrant had 62,375,200 shares of common stock, $0.001 par value, outstanding.
 
 
 
 

CLAVIS TECHNOLOGIES INTERNATIONAL CO., LTD.
QUARTERLY REPORT ON FORM 10-Q
QUARTER ENDED JUNE 30, 2011

TABLE OF CONTENTS

PART I.   FINANCIAL INFORMATION

Item 1  -  Financial Statements (unaudited)
  
Condensed Consolidated Balance Sheets as of June 30, 2011 (Unaudited) and December 31, 2010 (Audited)
1
Condensed Consolidated Statements of Operations (Unaudited) for the three months and six months ended June 30, 2011 and 2010
2
Condensed Consolidated Statements of Cash Flows (Unaudited) for the six months ended June 30, 2011 and 2010
3
Notes to Unaudited Condensed Consolidated Financial Statements
4
Item 2  -  Management’s Discussion and Analysis of Financial Condition and Results of Operations
10
   
Item 4  -  Controls and Procedures
21

 
PART II.  OTHER INFORMATION

Item 1  -  Legal Proceedings
22
Item 2  -  Unregistered Sales of Equity Securities and Use of Proceeds
22
Item 3  -  Defaults Upon Senior Securities
22
Item 4  -  Removed and Reserved
22
Item 5  -  Other Information
22
Item 6  -  Exhibits
22
   
SIGNATURES
23
   
CERTIFICATIONS
  
 
 
 
 
 
 
PART I - FINANCIAL INFORMATION

ITEM 1.
FINANCIAL STATEMENTS

CLAVIS TECHNOLOGIES INTERNATIONAL CO., LTD. AND SUBSIDIARY
CONDENSED CONSOLIDATED BALANCE SHEETS
(UNAUDITED)
 

ASSETS
  
   
June 30, 2011
    
December 31, 2010
 (1)
CURRENT ASSETS
            
Cash and cash equivalents
  
$
180
    
$
34,257
  
Inventory
    
-
      
4,412
  
Capitalized costs on contracts
    
53,564
      
53,793
  
Prepaid expenses and other assets
    
2,514
      
178
  
Total Current Assets
    
56,258
      
92,640
  
                 
Property and equipment, net
    
869
      
905
  
Security deposits
    
28,191
      
26,830
  
                 
TOTAL ASSETS
  
$
85,318
    
$
120,375
  
                 
LIABILITIES AND STOCKHOLDERS' DEFICIT
  
                 
CURRENT LIABILITIES
                
Short-term borrowings
  
$
187,313
    
$
178,272
  
Accounts payable
    
540,752
      
367,505
  
Related party loans payable
    
605,896
      
541,658
  
Accrued severance benefit
    
65,013
      
121,751
  
Other current liabilities
    
32,882
      
12,357
  
Total Current Liabilities
    
1,431,856
      
1,221,543
  
                 
Technical fee payable
    
352,520
      
335,505
  
                 
TOTAL LIABILITIES
    
1,784,376
      
1,557,048
  
                 
COMMITMENTS (Note 12)
                
                 
STOCKHOLDERS' DEFICIT:
                
Preferred stock, $0.001 par value; 10,000,000 shares authorized;
1,000,000 shares issued and outstanding
at June 30, 2011 and December 31, 2010.
    
1,000
      
1,000 
  
Common stock, $0.001 par value; 100,000,000 shares authorized;
62,375,200 shares issued and outstanding
at June 30, 2011 and December 31, 2010.
    
62,375
      
62,375
  
Additional paid-in capital
    
2,053,732
      
2,053,732
  
Accumulated other comprehensive income
    
(29,526
 )
    
72,895
  
Accumulated deficit
    
(3,786,639
)
    
(3,626,675
)
Total Stockholders' Deficit
    
(1,699,058
)
    
(1,436,673
)
                 
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT
  
$
85,318
    
$
120,375
  
 
 
(1)
Derived from audited financial statements included in the Form 10-K for the year ended December 31, 2010, filed with the Securities and Exchange Commission.

See accompanying notes to financial statements.
 
 
1
 
 
CLAVIS TECHNOLOGIES INTERNATIONAL CO., LTD. AND SUBSIDIARY
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(UNAUDITED)

   
Three Months
Ended
June 30, 2011
    
Three Months
Ended 
June 30, 2010
    
Six Months
Ended 
June 30, 2011
    
Six Months
Ended 
June 30, 2010
  
                         
 NET REVENUES
   $ 938     $ 20,986     $ 57,257     $ 70,869  
                                 
 COST OF REVENUES
     681       5,740       43,099       59,189  
                                 
GROSS PROFITS (LOSSES)
     257       15,246       14,158       11,680  
                                 
OPERATING EXPENSES
                                
Research and development
     40,848       62,716       60,024       129,961  
Selling, general and administrative expenses
     49,978       77,709       115,245       194,005  
Technical fees
     -       308,001       -       308,001  
Total expenses
     90,826       448,426       175,269       631,967  
                                 
LOSS FROM OPERATIONS
     (90,569 )     (433,180 )      (161,111 )     (620,287 )
                                 
OTHER INCOME (EXPENSES)
                                
Interest expense, net
     (11,243 )     (17,374 )      (22,308 )     (30,451 )
Gain on foreign currency transaction
     11,730       -       23,602       -  
Other income (expense), net
     (85 )     (178 )     (147 )     (207 )
      402       (17,552 )      1,147       (30,658 )
                                 
LOSS BEFORE INCOME TAXES PROVISION
     (90,167 )     (450,732 )      (159,964 )     (650,945 )
                                 
Income tax provision
     -       -       -       -  
                                 
NET LOSS
   $ (90,167 )   $ (450,732 )   $ (159,964 )   $ (650,945 )
                                 
LOSS PER SHARE - basic and diluted
   $ (0.01 )   $ (0.01 )   $ (0.01 )   $ (0.01 )
                                 
WEIGHTED AVERAGE NUMBER OF COMMON STOCKS OUTSTANDING - basic and diluted
     62,375,200       62,109,702       62,375,200       62,109,702  



See accompanying notes to financial statements.
 
 
2
 
 
CLAVIS TECHNOLOGIES INTERNATIONAL CO., LTD. AND SUBSIDIARY
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(UNAUDITED)


   
Six Months Ended
  
   
June 30, 2011
    
June 30, 2010
  
CASH FLOWS FROM OPERATING ACTIVITIES:
            
Net loss
  
$
(159,964
)
  
$
(650,945
)
Adjustments to reconcile net loss to net cash used in operating activities
                
Depreciation
    
78
      
3,634
  
Technical fees
    
-
      
308,001
  
Severance expense
    
7,258
      
12,950
  
Gain on foreign currency transaction
    
(23,602
)
    
-
  
                 
Change in assets and liabilities (net of acquisition):
                
Inventory
    
4,495
      
(2,990
)
Prepaid expenses and other assets
    
(2,256
)
    
49,094
  
Restricted cash
    
-
      
1,245
  
Accounts payable
    
149,905
      
134,715
  
Advance payments on contracts
    
-
      
50,465
  
Accrued liabilities and other liabilities
    
19,410
      
(45,518
) 
Deferred revenue
    
2,868
      
(43,318
)
Accrued severance payable
    
(68,257
)
    
(44,012
)
Net Cash Used in Operating Activities
    
(70,065
)
    
(226,679
) 
                 
CASH FLOWS FROM FINANCING ACTIVITIES:
                
Proceeds from short-term borrowings
    
-
      
88,880
  
Payments on short-term borrowings
    
-
      
(1,071
 )
Advances from stockholders
    
53,934
      
135,221
  
Payments of loans to stockholders
    
(18,285
)
    
(12,758
)
Proceed from issuance of common stock, net
    
-
      
5,434
  
Net Cash Provided by Financing Activities
    
35,649
      
215,706
  
                 
NET DECREASE IN CASH AND CASH EQUIVALENT
    
(34,416
)
    
(10,973
)
                 
EFFECT OF CURRENCY EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS
    
339
      
(2,277
)
                 
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD
    
34,257
      
17,401
  
                 
CASH AND CASH EQUIVALENTS, END OF PERIOD
  
$
180
    
$
4,151
  
                 
SUPPLEMENTAL CASH FLOW INFORMATION
                
                 
Cash paid Interest
  
$
22,335
    
$
31,080
  
 
See accompanying notes to financial statements.
 
 
3
 
 
CLAVIS TECHNOLOGIES INTERNATIONAL CO., LTD. AND SUBSIDIARY
NOTES TO UNAUDITED CONSENSED CONSOLIDATED FINANCIAL STATEMENTS
 
Note 1 - BASIS OF PRESENTATION
 
The accompanying unaudited condensed consolidated financial statements of Clavis Technologies International Co., Ltd. (the “Company") has been prepared in accordance with U.S. generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, these condensed consolidated financial statements do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In management’s opinion, the accompanying unaudited condensed consolidated financial statements contain all adjustments (consisting only of normal recurring adjustments), necessary to state fairly the financial information included herein.
 
The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make judgments, estimates and assumptions that affect the reported in the financial statements and accompanying notes. Actual results may differ materially from these estimates.  In addition, any changes in these estimates or their related assumptions could have a materially adverse effect on the Company's financial condition and results of operating.
 
Where the functional currency of the Company's foreign subsidiaries is the local currency, all assets and liabilities are translated into U.S. dollars, using the exchange rate on the balance sheet date, and revenues and expenses are translated at average rates prevailing during the period.  Accounts and transactions denominated in foreign currencies have been re-measured into functional currencies before translated into U.S. dollars.  Foreign currency transaction gains and losses are included as a component of other income and expense.  Gains and losses from foreign currency translation are included in the stockholders’ equity (deficit) as a separate component of comprehensive income (loss).
 
These unaudited condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary. All intercompany accounts and transactions have been eliminated in consolidation. While the Company believes that the disclosures are adequate to make the information not misleading, these condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes included in the Company’s registration statement, filed with the Securities and Exchange Commission.
   
Going Concern

The Company’s financial statements are presented on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business.  The Company has experienced recurring losses over the past years which have resulted in an accumulated deficit of approximately $3.79 million and a working capital deficit of approximately $1.70 million at June 30, 2011.

The Company’s ability to continue as a going concern is contingent upon its ability to secure additional financing, increase sales of its product and attain profitable operations. It is the intent of management to continue to raise additional funds to sustain operations and to pursue acquisitions of operating companies in order to generate future profits for the Company.  Although the Company plans to pursue additional equity financing, there can be no assurance that the Company will be able to secure financing when needed or obtain such on terms satisfactory to the Company, if at all.
 
The accompanying financial statements do not include any adjustments relating to the recoverability and classification of asset carrying amounts or the amount and classification of liabilities that might result from the outcome of this uncertainty.

Revenue Recognition

The Company recognizes revenue when revenue is realized or realizable and earned. Revenue is realized or realizable and earned when all of the following criteria are met: persuasive evidence of an arrangement exists; delivery has occurred or services have been rendered; the price to the buyer is fixed or determinable; and collectability is reasonably assured.
 
 
4
 
 
CLAVIS TECHNOLOGIES INTERNATIONAL CO., LTD. AND SUBSIDIARY
NOTES TO UNAUDITED CONSENSED CONSOLIDATED FINANCIAL STATEMENTS

The Company recognizes revenue from sale of RFID hardware and software under the completed contract method accounted for as one element. For the hardware component of the integrated unit, the company has no significant obligations after product shipment other than its standard manufacturing warranty.

Revenue from maintenance and technical support services are recognized as service is rendered and billed each month under a short-term service agreement.

Recent Accounting Pronouncements
 
In December 2010, the FASB issued ASU 2010-29, “Business Combinations (ASC Topic 805): Disclosure of Supplementary Pro Forma Information for Business Combinations – a consensus of the FASB Emerging Issues Task Force”.  This ASU clarifies existing disclosure requirements for public entities with business combinations that occur in the current reporting  period.  The ASU stipulates that if an entity is presenting comparative financial statements, revenue and earnings of the combined entity should be disclosed as though the business combinations that occurred during the current year had occurred as of the beginning of the comparative prior annual reporting period.  The ASU also expands the supplemental pro forma disclosures required by ASC Topic 805 to include a description of the nature and amount of material, nonrecurring pro forma adjustments directly attributable to the business combination included in the reported pro forma revenue and earnings.  This guidance is effective prospectively for business combinations with acquisition dates on or after the beginning of the first annual reporting period beginning on or after December 15, 2010.  Early adoption is permitted.  Adoption of the standard is not expected to have a material impact on the Company’s consolidated results of operations and financial condition.

Note 2 – CAPITALIZED COSTS ON CONTRACTS

The Company capitalized costs related to in-process customer contracts not yet completed or delivered.  Those capitalized costs are recognized as cost of goods sold when revenue is realized according to company’s revenue recognition criteria.  As of June 30, 2011 and December 31, 2010, total capitalize costs were $53,564 and $53,793, respectively.

Note 3 - PROPERTY AND EQUIPMENT
 
Property and equipment consists of the following at June 30, 2011 and December 31, 2010:
 
   
June 30, 2011
    
December 31, 2010
  
             
Equipment
  
$
105,324
    
$
100,245
  
Furniture and fixture
    
10,218
      
9,725
  
Automobile
    
749
      
713
  
     
116,291
      
110,683
  
Accumulated depreciation
    
(115,422
)
    
(109,778
)
                 
Net property and equipment
  
$
869
    
$
905
  
 
Depreciation expenses for the six months ended June 30, 2011 and 2010 were $78 and $2,253, respectively.
  
 
5
 
 
CLAVIS TECHNOLOGIES INTERNATIONAL CO., LTD. AND SUBSIDIARY
NOTES TO UNAUDITED CONSENSED CONSOLIDATED FINANCIAL STATEMENTS
 
Note 4 - FAIR VALUE MEASUREMENTS

The Company estimates the fair values of current assets and current liabilities (cash, restricted cash, accounts receivable, accounts payable, and other current liabilities) approximate their reported carrying amounts.

The following table presents the carrying amounts and estimated fair values of the Company’s financial instruments at June 30, 2011 and December 31, 2010. 

   
June 30, 2011
    
December 31, 2010
  
   
Carrying
amount
    
Estimated
Fair value
    
Carrying
amount
    
Estimated
Fair value
  
Financial assets:
      
Cash and cash equivalents
  
$
180
    
$
180
    
$
34,257
    
$
34,257
  
                                 
Financial liabilities:
                                
Accounts payable
  
$
540,752
    
$
540,752
    
$
367,505
    
$
367,505
  
Accrued severance benefit
    
65,013
      
65,013
      
121,751
      
121,751
  
Short-term borrowings
    
187,313
      
187,313
      
178,272
      
178,272
  
 
The fair values of the financial instruments shown in the above table as of June 30, 2011 and December 31, 2010 represent the amounts that would be received to sell those assets or that would be paid to transfer those liabilities in an orderly transaction between market participants at that date.  Those fair value measurements maximize the use of observable inputs. However, in situations where there is little, if any, market activity for the asset or liability at the measurement date, the fair value measurement reflects the Company’s own judgments about the assumptions that market participants would use in pricing the asset or liability. Those judgments are developed by the Company based on the best information available in the circumstances, including expected cash flows and appropriately risk-adjusted discount rates, available observable and unobservable inputs.
 
Note 5 - SHORT-TERM BORROWINGS
 
Short term borrowings consist of the following as of June 30, 2011 and December 31, 2010:

   
June 30, 2011
    
December 31, 2010
  
Line of credit from a bank at interest rate of lender’s prime plus 2.53%.  The line is guaranteed by Korea Credit Guarantee Fund and  matures in December 2011.
   $ 37,462     $  35,654  
                 
Note payable to an unrelated party bearing interest at 20.4%.  The note is guaranteed by officer of the Company and due on demand.
     93,657       89,136  
                 
Note payable to an unrelated party bearing interest at 12.0%.  The note is guaranteed by officer of the Company and matures in December 2011.
     56,194       53,482  
                 
Total short-term borrowings
   $ 187,313     $ 178,272  

 
 
6
 

CLAVIS TECHNOLOGIES INTERNATIONAL CO., LTD. AND SUBSIDIARY
NOTES TO UNAUDITED CONSENSED CONSOLIDATED FINANCIAL STATEMENTS
 
Note 6 - RELATED PARTY TRANSACTIONS
 
From time to time, the Company advances funds needed for working capital from the Company’s directors and stockholders. The advances are due on demand and borrowings outstanding were $456,045 (₩486,933,117) and $399,040 (₩447,675,393) as of June 30, 2011 and December 31, 2010, respectively.
 
The Company has related party loan in the aggregate amount of $149,851 (₩160,000,000) bearing interest at 12.0% interest per annum which matures in December 2011.
  
Note 7 – TECHNICAL FEE PAYABLE
 
The Company secured Industry Development Contracts (the “Contracts”) in December 2004 and 2007 from Korea Global ID Corporation (“KGIC”), a corporation controlled by the Korean government.  These contracts aimed to develop wireless recognition software and middleware technology.

The contracts with KGIC were completed, finalized and approved by KGIC in the latter part of 2010.  Under the terms of the contracts, the Company was assessed with technical fees by a government agency for the technical knowledge the Company gained from performing the projects. Total assessed fees was $352,520 (￦376,396,000), and the agency has allowed that the amount be paid in five annual installment through 2014.
 
Note 8 - ACCRUED SEVERANCE BENEFIT
  
Employees and directors with one year or more of service are entitled to receive a lump-sum payment upon termination of their employment based on their length of service and rate of pay at the time of termination.  Accrued severance benefits represent the amount which would be payable assuming all eligible employees and directors are to terminate their employment as of the balance sheet date. The accrued severance benefits at June 30, 2011 and December 31, 2010, were $65,013 and $121,751, respectively.
  
Note 9 - COMPREHENSIVE  LOSS
 
The components of comprehensive loss, net of tax, are as follows for the three and six months ended June 30, 2011 and 2010, respectively:

   
Three Months
Ended
June 30, 2011
    
Three Months
Ended 
June 30, 2010
    
Six Months
Ended 
June 30, 2011
    
Six Months
Ended 
June 30, 2010
  
Net loss
   $ (90,167 )   $ (450,732 )   $ (159,964 )   $ (650,945 )
                                 
Other comprehensive income (loss), net of tax:
                                
     Foreign currency translation adjustments
     (52,202 )     97,518       (102,421 )     71,205  
                                 
Total comprehensive loss
   $ (142,369 )   $ (353,214 )   $ (262,385 )   $ (579,740 )
 
 
 
7
 
 
CLAVIS TECHNOLOGIES INTERNATIONAL CO., LTD. AND SUBSIDIARY
NOTES TO UNAUDITED CONSENSED CONSOLIDATED FINANCIAL STATEMENTS
 
Note 10 – LOSS  PER SHARE
 
The following reconciles the numerators and denominators of the basic and diluted per share computation for the three and six months ended June 30, 2011 and 2010, respectively:

   
Three Months Ended
June 30, 2011
    
Three Months Ended 
June 30, 2010
    
Six Months Ended 
June 30, 2011
    
Six Months Ended 
June 30, 2010
  
Numerator for basic and diluted earning (loss) per share:
                        
Net loss
   $ (90,167 )   $ (450,732 )   $ (159,964 )   $ (650,945 )
                                 
Denominator:
                                
     Basic and diluted weighted average shares outstanding
     62,375,200       62,109,702       62,375,200       62,109,702  
                                 
Basic and diluted loss per share
   $ (0.01 )   $ (0.01 )   $ (0.01 )   $ (0.02 )

Note 11 - INCOME TAXES
 
The Company adopted the provisions of FASB ASC 740-10 on January 1, 2008, and there was no material effect on the financial statements at the date of adoption. There was no cumulative effect related to adopting FASB ASC 740-10.
 
Corporate income tax rates applicable to the Korean subsidiaries in 2011 and 2010 were 16.5% of the first 100 million Korean Won ($78,800) of taxable income and 29.7% on the excess.  For the United States operations, the corporate tax rates range from 10% to 34%. The Company provided a valuation allowance equal to the deferred tax amounts resulting from the tax losses in the United States, as it is not likely that they will be realized.  Tax losses from the Korean subsidiaries can be carried forward five years to offset future taxable income.  The U.S. tax losses can be carried forward for 20 years to offset future taxable income. The Company has accumulated net operating loss of approximately $3.53 million and $99,000 in its Korea and U.S. operations, respectively.  The utilization of the Korean losses expires in years 2011 to 2014 and the U.S. losses in year 2030.
 
U.S. federal income taxes have not been provided for the undistributed earnings of the Company’s foreign subsidiaries.  It is the Company’s intention that such undistributed earnings be permanently reinvested offshore.

The Company has deferred income tax assets as follows as of June 30, 2011 and December 31, 2010:
 
   
June 30, 2011
    
December 31, 2010
  
             
Deferred income tax assets
            
     Net operating loss carryforwards
  
$
12,500
    
$
12,500
  
     
12,500
      
12,500
  
     Valuation allowance
    
(12,500
)
    
(12,500
)
   
$
-
    
$
-
  
 
Management determined that it is more likely than not that the deferred tax assets will not be realized through the reduction of future income tax payments, and accordingly, a full valuation allowance has been recorded for the deferred income tax assets.

 
8
 

CLAVIS TECHNOLOGIES INTERNATIONAL CO., LTD. AND SUBSIDIARY
NOTES TO UNAUDITED CONSENSED CONSOLIDATED FINANCIAL STATEMENTS
 
Note 12 - COMMITMENT
 
The Company is committed to lease obligations for its offices expiring in January 2013. Rental expenses incurred for the six months ended June 30, 2011 and 2010 were approximately $10,100 and $6,700, respectively.
 
Future minimum annual payments under the lease are as follows for the years ending December 31:
 
2011
   $ 23,900  
2012
     47,800  
2013
     4,000  
Total
   $ 75,700  

Note 13 - CONCENTRATION AND UNCERTAINTY
 
Concentration in Customer

For the three months ended June 30, 2010, one customer accounted for 100% of sales. For the six months ended June 30, 2011 and 2010, two largest customers accounted for 67% and 100% of sales, respectively.
  
Operation in Foreign Country

Substantially, all of the Company’s operations are carried out in the Republic of Korea. The Company’s operations are subject to various political, economic, and other risks and uncertainties inherent in the country.






 
9
 

ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following discussion of the financial condition and results of operations of the Company should be read in conjunction with the financial statements and the related notes thereto included in this document.

Forward Looking Statements

The following discussion of the financial condition and results of operations should be read in conjunction with the consolidated financial statements and related notes thereto. The words or phrases "would be," "will allow," "expect to", "intends to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," or similar expressions are intended to identify "forward-looking statements". Such statements include those concerning our expected financial performance, our corporate strategy and operational plans. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties, including:  (a) our ability to retain and add qualified personnel with the proper tax and IRS experience and business acumen, (b) our ability to execute our business plan, (c) our ability to successfully compete against numerous competitors, some of whom are larger and better financed than us, (d) the amount and timing of operating costs and capital expenditures relating to the expansion of our business, (e) the implementation of our marketing programs and (f) general economic conditions specific to our industry.
 
Unless otherwise required by applicable law, the Company does not undertake, and specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.
 
The following discussion should be read in conjunction with our consolidated financial statements and related notes included as part of this report.
 
The following section highlights significant factors impacting the consolidated operations and financial condition of the Company and its subsidiaries.
 
Overview
 
Clavis Technologies International Co., Ltd., a Nevada corporation (“the Company”), was incorporated in Nevada on September 10, 2009.  On December 1, 2009, the Company entered into a definitive Share Exchange Agreement with Clavis Technologies Co., Ltd., a Korean corporation (“Clavis Technologies” or “Clavis Korea”), and the shareholders of Clavis Korea.  Pursuant to the agreement, the Company acquired 100% of the issued and outstanding capital stock of Clavis Korea in exchange for 45,000,000 shares of the Company’s common stock, representing approximately 75% of the issued and outstanding stock of the Company.  Clavis Korea was incorporated under the laws of Republic of Korea on January 28, 2003. Clavis Korea is located in Seoul, Korea, and has been engaged in the development of global Electronic Product Code (EPC) network software. The Company’s goal is to be a global player in ubiquitous computing solutions using its proprietary Radio Frequency Identification (“RFID”) middleware which is based on the Electronic Product Code Network and mobile financial solutions.

Clavis Technologies has been providing RFID-enabled solutions, including business processes, based on the EPCglobal standards to various industrial markets as a vendor of RFID technology since 2003. As Clavis Technologies combines its products, expertise, partnerships and integration capability into solutions for a wide range of device computing applications, Clavis Technologies enables its clients to tap into the wealth of data captured by networked devices such as RFID readers or handheld devices to extend the quality of valuable information to any device where companies or their customers need.

Historically, Clavis Technologies has concentrated on the RFID business as a provider that sold only RFID middleware. As the RFID market has experienced significant growth recently, Clavis Technologies has launched its framework-based product packages, which has been developed since 2003, including added-value RFID applications that can be customized for a broad range of industries.
 
 
10
 
 
Currently, our results are heavily dependent upon sales to the retail, financial and business to business markets. Our customers are dependent upon retail sales, which are susceptible to economic cycles and seasonal fluctuations. Furthermore, as approximately two-thirds of our revenues and operations are located outside the U.S., fluctuations in foreign currency exchange rates have a significant impact on reported results.    For the year ended December 31, 2010, the two largest customers accounted for 81% of sales and for the year ended December 31, 2009, the three largest customers accounted for 66% of sales.  In 2010, the Korean Ministry of Unification (52%) and Shinsegae I&C (29%) accounted for approximately 81% of sales.  In 2009 Korea Pallet Pool Co., Ltd. (35.28 %), The Korean Ministry of Unification (15.2%) and KTNetworks (15.44%) accounted for approximately 66% of sales.  For the three months ended June 30, 2010, one customer accounted for 100% of our sales and for the six months ended June 30, 2011 and 2010, our two largest customers accounted for 67% and 100% of sales.

Partnerships with clients like KT Networks and Korea Pallet Pool have been mainstays of our business.  In the past year KT Networks has been asked to diversify their partner base.  While they continue to do this in small projects they have indicated that their trusted partnership with Clavis is a strong one and they plan to continue that relationship for the long term.  However as an effort to support the community Clavis is working with some smaller firms to partner and support them on projects, thus allowing them to increase their opportunities with the larger firms like KT Networks.  In recent years Korea Pallet Pool has had financial issues related to a tragic accident and subsequent legal proceedings that have reduced their business outlook.  While we maintain them as a customer we realize that new projects from them may be limited in scope.  Therefore management is taking a conservative outlook on future projects with this steady and loyal customer.
 
Our business plan is to generate sustained revenue growth through selected investments in product development and marketing to include expansion of our business operations outside of software into the hardware.  Revenue growth may also be generated by acquisitions of other companies that we may identify to expand our product offerings and/or customer base.  We currently do not have any acquisitions targeted during 2010.  However we have significant increases in business opportunities and partnerships for the year and the next several year projections.   The launch of out framework-based product packages, which we have been developing and improving since 2003 will include added-value RFID applications that reach into multiple industries and will provide significant opportunities for the future partnerships.
 
Continued expansion of our partner base will help to enhance the opportunities for our software and hardware products.  Some of our current partners and opportunities include, but are not limited to:
    
EPCglobal is the organization entrusted by industry leaders to establish and support the EPCglobal Network™ and provides the following services: Participation in development of EPCglobal Standards via EPCglobal’s Action & Working Groups, Access to the results of the EPCglobal Certification and Accreditation Program testing, and Links with other subscribers to create pilots and test cases.  Clavis Technologies joined EPCglobal as a member in 2004.  A member of EPCglobal is called a “subscriber.”  EPCglobal classifies subscribers into two general categories: end-users and solution providers. End-users include manufactures, retailers, wholesalers, carriers and government organizations.  Solution providers are organizations that help end users move goods through the supply chain. Solution providers include hardware and software companies, consultants, systems integrators, and training companies (such as Clavis Technologies).  As a solution subscriber, we participate in EPCglobal’s various EPCglobal Action and Working Groups which address standard specifications, business issues, software issues and other matters.
   
IBM Korea Clavis Technologies developed SCM based on Auto-ID System for Sales of IBM Korea in Korea.  Clavis Technologies’ RFID middleware is customized for IBM platforms such as DB2 and Websphere.
 
Business Development in RFID Systems.  Clavis Technologies has developed relationships with a number of companies to provide RFID middleware and hardware and consulting on their RFID systems.  These companies include worldwide recognized name brands as well as established firms in the Korean sector.  We feel confident that relationships with these firms places Clavis on a very positive footing in the market.
 
 
 
11
 

Mobile Financial System.  We have completed projects with major Korean financial institutions towards developing mobile banking capabilities, which we anticipate could help facilitate new and continued product development and sales opportunities.

The Opportunity

The future emphasis for RFID is expected to shift towards process based solutions.  Developing broad based products for individual applications is not the best way to move forward. End user processes are highly diverse and require RFID systems to integrate with their existing AIDC infrastructure.  Such process centric solutions need to have high levels of flexibility incorporated into the design to ensure that customized requirements are taken care of. Even within manufacturing sectors, there is a higher focus towards monitoring work-in-progress (WIP). High process efficiency levels have a direct impact on the overall productivity and profitability of the enterprise.

Pharmaceutical companies are expected to emerge as a key vertical market for RFID in the next 12 months.  The regulatory environment requiring compliance with various state e-pedigree laws is among the biggest drivers for this vertical market.  Large distributors are leading the way in terms of deployment and utilizing RFID data to drive their internal processes forward.  Early adopters and pharmaceutical manufacturers, such as GSK, Pfizer and Purdue Pharma, are continuing their RFID projects and this is likely to further increase traction within the vertical market.

Healthcare distribution chains are another area of opportunity.  Innovative uses of the technology include hospitals deploying RFID enabled refrigerators for consignment of high value drugs that are extremely sensitive to temperature changes. The appliances enable constant monitoring of the drug’s quality.  Combining RFID / RTLS systems with existing Wi-Fi networks and hospital infrastructure systems is also expected to continue adoption rates in 2008.  Patient tracking applications are likely to present a good opportunity for products that integrate both, RFID and barcodes (2D technology).

The retail supply chain will continue to incite interest and large suppliers are expected to see most of the deployments in the short term.  RFID vendors are likely to witness greater success by targeting suppliers who work with mandated retailers or retailers that have adopted the technology at the store level. Tagging at the manufacturing / supplier facility alone will not result in true value since the downstream benefit is not there when retailers have not invested in RFID. High value categories such as apparel, footwear, and media are likely to have higher adoption.  The opportunity in the vertical lies in delivering RFID solutions that can be integrated and scaled up with the existing retail network in place.
 
In-store and point-of scale (POS) applications are emerging as key areas of interest for RFID deployments.  Retailers are evaluating RFID applications that enhance the overall shopping experience for the customer. The momentum is particularly strong in Europe and Asia where there is a higher emphasis on item level tagging. By tagging individual items at the store level, RFID-enabled mirrors and electronic displays enable the customer to view, select, and locate related / different items within the store.

Aerospace is also a significant market to watch out for during 2010.  The decision by Airbus to implement RFID systems based on its earlier pilot program is a positive driver for the overall adoption within the vertical. Airport baggage handling applications are another volume-driven RFID opportunity that is expected to witness pilots and deployments next year. Recent projects in Milan, Argentina, UK, Australia and Thailand reflect the technology’s gaining popularity outside North America.
 
 The strong need for track and trace capabilities in chemical and petroleum industries is expected to increase the demand for RFID within these markets. Most petroleum products need to be certified according to the American Petroleum Institute which requires manufacturers to provide a documented history of the product. Efforts by the Chemical Industry Data Exchange (CIDX) in aligning itself closely with EPCglobal are expected to support chemical companies in furthering their RFID deployments.
 
Whatever the vertical/application market opportunity may be, end-users are likely to exhibit faster adoption rates when there is a clear convergence of RFID technology and existing business processes in place.

Some of our key market opportunities will likely include:
 
 
12
 

RFID-based Asset Management for Traffic Lights.   Our Target customers include Seoul’s Metropolitan government and 200 local autonomous entities.  With our partner KT Networks we continue high level communications and trail reviews of projects with the sales cycle of this project expected to close in the next several reporting periods.  We will coordinate this through another partner who will become the direct sales and support team for the products throughout the project life cycle.  Estimated revenues are above $2 million US Dollars.

RFID-based Chemical Management System for Chemical Laboratory Safety.   Our target customers include 100 universities and colleges and 500 public chemical laboratories and private companies.  With government sponsored regulatory requirements set to be put in place in the near future this will become a government mandate.  These institutions and our staff have been preparing for a number of years to fulfill this need and expect results in this year, with at least 5 confirmed deals ready for delivery, and additional transactions in near future.  Expectations of revenue will be approximately $300,000 US Dollar per university and $80,000 US Dollars per transaction at private labs.

Mobile Internet System. Our target customers include Korean telecom companies like SKT, KTF and LGT.  Several of these clients have requested partnership development deals with Clavis and we are currently working on product to include client/server based systems that interact with smart phones and other portable devises.  Other clients are also coming on as distribution partners that will provide our services to third parties.  Projects in this category are estimated at about $600,000 US Dollars for the near future sales cycle.

Expected Increases in Expenses

As a result of our becoming a public company in late July 2010 and executing on our business plan to grow our business, we expect to experience an increase in our operating expenses, primarily in our professional fees.

While we currently have a range of products that we offer to our customers, as discussed elsewhere in this prospectus, we will be upgrading our existing products as well as developing new products to target new market opportunities (as discussed in the preceding two sections).  We will, consequently, hire additional software developers to perform the product creating and product upgrade services.  In addition to salaries, we expect to incur approximately $50,000 in additional expenses in connection with such product development and upgrade activities (such as purchasing more computers and software development products for the additional software developers we expect to hire).

To assist us in increasing our sales, we expect our sales and marketing expenses to increase as a result of making more PR materials (e.g., brochures for company and products), advertising on the Web sites (e.g. banner ad), preparing seminars and participating exhibitions or events.  We expect this to add at least $20,000 - $30,000 per year to our sales, general and administrative expenses.  Such amount would be in addition to hiring sales and marketing personnel.

As a result of becoming a public company in late July 2010, we will incur significantly greater expenses for professional fees, primarily account and legal expenses related to the preparation and filing of our periodic reports and any registration statements we may file.  We expect our audit cost will be approximately $75,000 per year, primarily in regard to the review of our quarterly reports on Form 10-Q and the audit of annual financial statements.  We also expect to incur approximately $60,000 per year for investor relations services and approximately $80,000 in legal fees, primarily for the preparation of our SEC filings and documents for capital raising activities.

Critical Accounting Policies and Estimates
 
Our discussion and analysis of our financial condition and results of operations are based upon our consolidated financial statements, which have been prepared in accordance with generally accepted accounting principles (GAAP) in the United States of America. The preparation of these financial statements requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and the related disclosure of contingent assets and liabilities.
 
 
13
 
 
In Note 2 to the Company’s annual consolidated financial statements, the Company describes the significant accounting policies used in the preparation of those consolidated financial statements. Certain of these significant accounting policies are considered to be critical accounting policies. A critical accounting policy is defined as one that is both material to the presentation of our consolidated financial statements and requires management to make difficult, subjective or complex judgments that could have a material effect on our financial condition or results of operations.
 
Specifically, these policies have the following attributes: (1) we are required to make assumptions about matters that are highly uncertain at the time of the estimate; and (2) different estimates we could reasonably have used, or changes in the estimate that are reasonably likely to occur, would have a material effect on our financial condition or results of operations. Estimates and assumptions about future events and their effects cannot be determined with certainty. On an on-going basis, we evaluate our estimates on historical experience and on various other assumptions believed to be applicable and reasonable under the circumstances. These estimates may change as new events occur, as additional information is obtained and as our operating environment changes. These changes have historically been minor and have been included in the consolidated financial statements as soon as they became known. Senior management reviews the development and selection of our accounting policies and estimates with the Audit Committee. The critical accounting policies have been consistently applied throughout the accompanying financial statements.
 
We believe the following accounting policies are critical to the preparation of our consolidated financial statements:
 
Revenue Recognition.   We recognize revenue when revenue is realized or realizable and earned. Revenue is realized or realizable and earned when all of the following criteria are met: persuasive evidence of an arrangement exists; delivery has occurred or services have been rendered; the price to the buyer is fixed or determinable; and collectability is reasonably assured.

We recognize revenue from sale of RFID hardware and software under the completed contract method accounted for as one element. For the hardware component of the integrated unit, the company has no significant obligations after product shipment other than its standard manufacturing warranty.

Revenue from maintenance and technical support services are recognized as service is rendered and billed each month under a short-term service agreement.
 
We believe the following judgments and estimates have a significant effect on our consolidated financial statements:
 
Inventory Valuation.   Inventories are stated at lower of cost or market.  Cost is computed on a first in, first out basis for raw materials and supplies.  Work-in-process, manufactured finished goods and merchandise goods are stated at the lower of cost or market.   We write down our inventory for estimated obsolescence or unmarketable items equal to the difference between the cost of the inventory (as set forth above) and the estimated net realizable value based upon assumptions of future demand and market conditions. If actual market conditions are less favorable than those projected by management, additional inventory write-downs may be required.  
 
Impairment of Long-lived Assets. In accordance with ASC Subtopic 360-10, our long-lived assets, such as property and equipment, and purchased intangible assets subject to amortization, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable.  Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to estimated undiscounted future cash flows expected to be generated by the asset.  If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized by the amount by which the carrying amount of the asset exceeds the fair value of the asset.  Assets to be disposed of are separately presented in the balance sheet and reported at the lower of the carrying amount or fair value less costs to sell, and are no longer depreciated.  The assets and liabilities of a disposal group classified as held for sale are presented separately in the appropriate asset and liability sections of the balance sheet.
 
 
 
14
 
 
For the three and six months ended June 30, 2011 and 2010, no events or circumstances occurred for which an evaluation of the recoverability of long-lived assets was required.  There can be no assurance however, that market conditions will not change or demand for the Company’s products and services will continue, which could result in impairment of long-lived assets in the future.
 
Income Taxes. In determining income for financial statement purposes, we must make certain estimates and judgments. These estimates and judgments affect the calculation of certain tax liabilities and the determination of recoverability of certain of the deferred tax assets, which arise from temporary differences between tax and financial statement recognition of revenue and expense. We record a valuation allowance to reduce our deferred tax assets to the amount that it is more likely than not to be realized. In assessing the realizability of deferred tax assets, we consider future taxable income by tax jurisdictions and tax planning strategies. If we were to determine that we would be able to realize deferred tax assets in the future in excess of the net recorded amount, an adjustment to the valuation allowance would increase income in the period such determination was made. Likewise, should we determine that we would not be able to realize all or part of our net deferred tax assets in the future, an adjustment to the valuation allowance would decrease income in the period such determination was made.
 
Changes in tax laws and rates could also affect recorded deferred tax assets and liabilities in the future. We are not aware of any such changes that would have a material effect on our results of operations, cash flows or financial position.
 
In addition, the Company accounts for income taxes pursuant to the ASC 740.  The calculation of our tax liabilities involves dealing with uncertainties in the application of complex tax regulations in a multitude of jurisdictions across our global operations. We record tax liabilities for the anticipated settlement of tax audit issues in the U.S. and other tax jurisdictions based on our estimate of whether, and the extent to which, additional taxes will be due. Our income tax expense includes amounts intended to satisfy income tax assessments that result from these audit issues in accordance with Financial Accounting Standards Board (FASB) Interpretation No. 48 “Accounting for Uncertainty in Income Taxes, an interpretation of FASB Statement No. 109” (FIN 48).  Determining the income tax expense for these potential assessments and recording the related assets and liabilities requires management judgments and estimates. Due to the complexity of some of these uncertainties, the ultimate resolution may result in a payment that is different from our estimate of tax liabilities. If payment of these amounts ultimately proves to be greater or less than the recorded amounts, the change of the liabilities would result in tax expense or benefit being recognized in that period. We evaluate our uncertain tax positions in accordance with FIN 48. We believe that our reserve for uncertain tax positions, including related interest, is adequate.
 
Pension Plans. We do not have unfunded pension plans either inside or outside the U.S.

Recent Accounting Pronouncements.  For information about new accounting pronouncements and potential impact on our financial statements see Note 1 of the Notes to Financial Statements in this Form 2010 10-Q and Note 2 of the Notes to Financial Statements for the years ended December 31, 2010 and 2009 in annual report on Form 10-K.
 
 
 
 
15
 

Results of Operations

Results for the three months ended June 30, 2011 versus the three months ended June 30, 2010.

The following table sets forth selected statement of operations data as a percentage of total revenues for the periods indicated
 
   
For the three months ended June 30,
  
   
2011
          
2010
        
                         
Net Revenues
     938       100%       20,986       100%  
                                 
Cost of Revenues
     681       73%       5,740       106%  
                                 
    Gross Profit
     257       27%       15,246       - 6%  
                                 
Operating Expenses
                                
     Selling, general and administrative
     49,978       4355%       77,709       370%  
     Research and development
     40,848       5328%       62,716       299%  
     Technical fees
     -       -%       308,001       1468%  
           Total operating expense
     90,826       9683%       448,426       2136%  
                                 
Loss from operations
     (90,569 )     -9655%       (433,180 )     -2064%  
                                 
Other Income (Expenses)
                                
    Interest expenses, net
     (11,328 )       -1208%       (17,552 )     -84%  
    Gain on foreign currency transaction
     11,730       1251%       -       -%  
         Total other income (expenses)
     402       43%       (17,552 )     -84%  
                                 
Loss before income provision
     (90,167 )     -9613%       (450,732 )     -2148%  
                                 
   Income tax provision
     -       0.0%       -       0.0%  
                                 
Net Loss
     (90,167 )     -9613%       (450,732 )     -2148%  
 
Revenues.  Revenues decreased by approximately $20,000 or 96%, to approximately $938 for the three months ended June 30, 2011 as compared to approximately $20,986 for the three months end June 30, 2010.  The decrease in sales was mainly due to no projects being completed in the fiscal second quarter of 2011 that revenue could be recognized.

Cost of Product Revenue.  The cost of revenue consists of all costs associated with of production and installation of the products sold during the three month period ended June 30, 2011 and 2010.

Gross Profit.   Our gross profit for the three months ended June 30, 2011 was approximately $257, as compared to approximately $15,246 versus the same three month period a year ago.  This decrease is a result of no projects completed in the three month period ended June 30, 2011 that generated revenue.
 
Total Selling, general and administrative expenses.  Total selling, general and administrative expenses (“SG&A”) consist of salaries and employee benefits expenses, professional fees, and other general and administrative expenses which are described below.  Total SG&A expenses for the three months ended June 30, 2011 was approximately $49,978 a decrease of approximately $27,731 versus the three month period a year ago.
 
 
16
 
 
Salaries and Employee Benefits Expense.  Salaries and employee benefits expense, which is comprised of salaries, temporary hires and health insurance, for the three months ended June 30, 2011 was approximately $18,500, which was a slight increase of approximately $1,500, from the salaries expense of approximately $17,000 for three months ended June 30, 2010.  
 
Professional Fees.  Professional fees which consist mainly of overseas marketing costs, legal and accounting fees, decreased by approximately $28,963, or 62%, for the prior year three month period ended June 30, 2010.  This decrease is attributed to decreases in legal and accounting fees associated with the Company’s resale registration statement filings in the second quarter of 2010. 
 
General and Administrative Expenses.  General and administrative (“G&A”) expenses include expenses for travel and entertainment, rent, utilities, government tax and license fees and depreciation.  Total G&A expenses decreased by approximately $300 from approximately $13,668 for the three months ended June 30, 2010 to approximately $13,400 for the three months ended June 30, 2011.  Rent and utilities expenses were basically flat, with no change from prior year.  The main reduction in G&A was in travel and entertainment expenses for 2011 as compared to year ago.

Technical fees.  The Company per a contract with KGIC is obligated to remit technical royalty fees to a Korean government agency.  Due to lack of cash funds by the Company, the agency has agreed to collect the fee over the next five years, and the Company has recorded an expense of $336,000 to the statement of operations and recorded corresponding accrual to the balances sheet for the year ended December 31, 2010.  The technical expense for the three months ended June 30, 2010 was approximately $308,001 and the accrual balance at June 30, 2011 is approximately $352,520.
 
Research and Development.  Research and development expense for the three months ended June 30, 2011 was approximately $40,848, for the development of new products innovations needed to upgrade our current software products, a decrease of approximately $21,868 from prior three month period a year ago.  
 
            Total Operating Expenses.  Total operating expenses for the three months ended June 30, 2011 were approximately $90,826, a decrease of approximately $357,600, or 80%, from total operating expenses of $448,426 for same period in 2010.  Total operating expenses for the three months ended June 30, 2011 decreased due to significant decreases in Technical fees of approximately $308,001, professional fees of approximately $28,963 and research and development expenses of approximately $21,868 as described above.  Salaries and benefits and other G&A expenses increased slightly approximately $1,232 in fiscal second quarter 2011 as compared to the same period in 2010.
 
Total Other Income and Expenses.  Total other income and other expenses consist of interest expense and other non operating related adjustments.  Interest expense for the three months ended June 30, 2011 was approximately $11,243, a decrease of approximately $6,131 from the 2010.   Other income for the three months ended June 30, 2011 had no increase from the same period in 2010.  Offsetting the interest expense was a gain of approximately $11,730 for foreign currency transactions which the Company did not have in 2010.

Income Taxes.   Due to operational loss the Company did not have any liability for income taxes provision for the three months ended June 30, 2011.  The income losses have created a deferred tax asset as of June 30, 2011 of approximately $12,500 which was 100% reserved for since it is more likely than not that the Company will not be able to realized the reduction.
 
Net Income (Loss).  The net loss for the three months ended June 30, 2011 was approximately $90,167 as compared to a net loss of approximately $450,732 for the three months ended June 30, 2010, a decrease of approximately $360,565.  The loss in net income increased as a result in lower revenue resulting in a decrease in gross profit of approximately $14,989.  This decline in gross profit was offset by decreases in operating expenses of approximately $357,600 as discussed above, and the offset of interest expense by gain on foreign currency transactions resulting in a reduction of another approximately $17,954 in expense as compared to the prior three month period.
 
 
17
 

Results for the six months ended June 30, 2011 versus the six months ended June 30, 2010.
 
The following table sets forth selected statement of operations data as a percentage of total revenues for the periods indicated
 
   
For the six months ended June 30,
  
   
2011
          
2010
        
                         
Net Revenues
     57,257       100%       70,869       100%  
                                 
Cost of Revenues
     43,099       75%       59,189       84%  
                                 
    Gross Profit
     14,158       25%       11,680       16%  
                                 
Operating Expenses
                                
     Selling, general and administrative
     115,245       201%       194,005       274%  
     Research and development
     60,024       105%       129,961       183%  
     Technical fees
     -       -%       308,001       435%  
           Total operating expense
     175,269       306%       631,967       892%  
                                 
Loss from operations
     (161,111 )     -281%       (620,287 )     -875%  
                                 
Other Income (Expenses)
                                
    Interest expenses, net and other expense
     (22,455 )     -39%       (30,658 )     -43%  
    Gain on foreign currency transaction
     23,602       41%       -       -%  
         Total other income (expenses)
     1,147       2%       (30,658 )     -43%  
                                 
Loss before income provision
     (159,964 )     -279%       (650,945 )     -918%  
                                 
   Income tax provision
     -       0.0%       -       0.0%  
                                 
Net Loss
     (159,964 )     -279%       (650,945 )     -918%  
 
Revenues.  Revenues decreased by approximately $13,612 or 19%, to approximately $57,257 for the six months ended June 30, 2011 as compared to approximately $70,869 for the six months end June 30, 2010.  The decrease in sales was mainly due to no projects being completed in the fiscal second quarter of 2011 that revenue could be recognized.
 
Cost of Product Revenue.  The cost of revenue consist of all costs associated with of production and installation of the products sold during the six month period ended June 30, 2011 and 2010.
 
 
 
18
 
 
Gross Profit.   Our gross profit for the six months ended June 30, 2011 was approximately $14,158 as compared to approximately $11,680 versus the same six month period a year ago.  This decrease is a result of no projects being completed in the fiscal second quarter of 2011 that generated any revenue.
 
Total Selling, general and administrative expenses.  Total selling, general and administrative expenses (“SG&A”) consists of salaries and employee benefits expenses, professional fees, and other general and administrative expenses which are described below.  Total SG&A expenses for the six months ended June 30, 2011 was approximately $115,245 a decrease of approximately $78,760 versus the six month period a year ago.

Salaries and Employee Benefits Expense.  Salaries and employee benefits expense, which is comprised of salaries, temporary hires and health insurance, for the six months ended June 30, 2011 was approximately $40,500, which was an decrease of approximately $7,600, or 16%, from the salaries expense of approximately $48,125 for six months ended June 30, 2010.  This decrease can be attributed a 15% decrease in salaries and the cost for temporary hires needed to support our business goals.
 
Professional Fees.  Professional fees which consist mainly of overseas marketing costs, legal and accounting fees, decreased by approximately $67,963, or 57%, for the prior year six month period ended June 30, 2010.  This decrease is attributed to decreases in legal and accounting fees associated with the Company’s resale registration statement filings in the second quarter of 2010. 
 
General and Administrative Expenses.  General and administrative (“G&A”) expenses include expenses for travel and entertainment, rent, utilities, government tax and license fees and depreciation.  Total G&A expenses decreased by approximately $3,187 from approximately $26,226 for the six months ended June 30, 2010 to approximately $23,039 for the six months ended June 30, 2011.  Rent and utilities expenses were basically flat, with no change from prior year.  The main reduction was in travel and entertainment expenses for 2011 as compared to year ago.

Technical fees.  The Company per a contract with KGIC is obligated to remit technical royalty fees to a Korean government agency.   Due to lack of cash funds by the Company, the agency has agreed to collect the fee over the next five years, the Company has recorded an expense of $336,000 to the statement of operations and recorded corresponding accrual to the balances sheet for the year ended December 31, 2010.  The technical expense for the six months ended June 30, 2010 was approximately $308,001 and the accrual balance at June 30, 2011 is approximately $352,520.
 
Research and Development.  Research and development expense for the six months ended June 30, 2011 was approximately $60,024, for the development of new products innovations needed to upgrade our current software products, a decrease of approximately $69,937 from prior six month period a year ago.  
 
Total Operating Expenses.  Total operating expenses for the six months ended June 30, 2011 were approximately $175,269, a decrease of approximately $456,698, or 72%, from total operating expenses of $631,967 for same period in 2010.  Total operating expenses for the six months ended June 30, 2011 decreased due to significant decreases in Technical fees of approximately $308,001, professional fees of approximately $68,000 and research and development expenses of approximately $70,000 as described above.  Salaries and benefits and .other G&A expenses decreased approximately $11,000 in the first half of fiscal 2011 as compared to the same period in 2010.
 
Total Other Income and Expenses.  Total other income and other expenses consist of interest expense and other non operating related adjustments.  Interest expense for the six months ended June 30, 2011 was approximately $22,308, a decrease of approximately $8,143 from the 2010.   Other income for the six months ended June 30, 2011 had no material increase from the prior year six month period. Offsetting the interest expense was a gain of approximately $23,602 for foreign currency transactions which the Company did not have in 2010.

Income Taxes.   Due to operational loss the Company did not have any liability for income taxes provision for the six months ended June 30, 2011.  The income losses have created a deferred tax asset as of June 30, 2011 of approximately $12,500 which was 100% reserved for since it is more likely than not that the Company will not be able to realized the reduction.
 
 
 
19
 
 
Net Income (Loss).  The net loss for the six months ended June 30, 2011 was approximately $159,964 as compared to a net loss of approximately $650,945 for the six months ended June 30, 2010, a decrease of losses of approximately $490,981.  The loss in net income decreased as a result in higher revenue resulting in an increase in gross profit of approximately $2,478.  The Company also reduced operating expenses by approximately $456,698 as discussed above, and interest expense declined by approximately $8,143 and in 2011 income was increased by gain on foreign currency transactions of approximately $23,602 as compared to the prior six month period.

Liquidity and Capital Resources

As of June 30, 2011, the Company had total current assets of approximately $56,258 and total current liabilities of approximately $1,431,856, resulting in negative working capital of approximately $1,375,598.  At June 30, 2011, our current assets consisted mainly of $53,564 for Capitalized costs on contracts and $180 for cash and $2,514 for prepaid expenses.  We have reported a net loss applicable to common shareholders of approximately $159,964 for the six months ended June 30, 2011and $283,000 for the year ended December 31, 2010, respectively.  These conditions raise liquidity concerns and substantial doubt about our ability to continue as a going concern.  The Company’s continued existence is dependent upon its ability to successfully execute its business plan, secure additional sources of liquidity and obtain accommodating credit terms from creditors.
 
During 2009 and 2010, the Company has met its liquidity needs primarily by operational sales, issuances of the Company’s securities and advances from its stockholders.  Current and future operations are expected to be funded primarily from sales of the Company’s products and funding available under current credit agreements when necessary.  We are working to reduce our liquidity risk by accelerating efforts to improve working capital.
 
Management estimates that it will need approximately between $500,000 to $700,000 to fund operations, capital and debt expenditures over the next twelve months.  Our assessment of how to fund our cash needs, however, is based on assumptions concerning the cash provided from operating activities, funds available under current credit agreements, obtaining new loan agreements, loans from stockholders and issuance of stock for cash or services.  Funding steps may include but are not limited to equity stakes from private or public sources that will not significantly dilute the share value of current shareholders.    We have an oral agreement from Mr. Hwan Sup Lee, our Chief Executive Officer and a significant stockholder, to lend us approximately $450,000 to $500,000 if needed.  These funding efforts will proceed unabated but the Company can provide no guarantee that the funding will be realized.

Operating Activities
 
Net cash used in operating activities was approximately $70,065 for the six months ended June 30, 2011 compared to approximately $226,679 use in operation for the six months ended June 30, 2010, the decrease in the use of cash from operating activities of approximately $156,614 is primarily attributable to a reduction of approximately $150,130 of cash used in regular operating activities.  Spending on non-operating activities was also reduced by approximately another $6,484, this reduction consist mainly of reductions in prepaid expenses of approximately $51,350, advance payments on contracts was also reduced  by approximately $50,465.  This reduction were offset by increases in cash use to pay accounts payable items, reduction in deferred revenue and accrued expenses totaling approximately $102,059 and a   reduction in inventory and other assets makeup the remaining reduction of approximately $6,728.
 
Investing Activities
 
There was no  cash used in investing activities was for the six months ended June 30, 2011 and 2010, respectively.
 
 
 
20
 
 
Financing Activities
 
Net cash provided in financing activities was approximately $35,649 for the six months ended June 30, 2011 compared to cash provided from financing activities approximately $215,706 for the six months ended June 30, 2010.  For the 2011, advances from stockholders was approximately $53,934 which was use to pay loans to stockholders of approximately $18,285.  For the six months ended June 30, 2010 the majority of cash provided by financing activities was from proceeds received borrowings, net of payments in the amount of approximately $87,809 and advances from stockholders net of payments in the amount of approximately $122,463 and proceeds from the sale of common stock in the amount of approximately $5,434.

Promissory Notes Payable
 
The Company has an operating line of credit of $44,007 with interest at the lender’s prime plus 2.53%. This credit line matures on December 31, 2011 and is guaranteed by the Korea Credit Guarantee Fund.  Amount outstanding as of June 30, 2011 was $37,462.
 
 As of June 30, 2011, the Company has borrowing outstanding in the amount of $93,657, from an unrelated party bearing interest at 20.4% and is due on demand.

As of June 30, 2011, the Company has borrowed outstanding in the amount of $56,194 from unrelated parties at 12.0% interest and with maturity in April 2011.

Related Party Notes

From time to time, the Company has received advances of working capital from the Company’s directors and stockholders.  As of June 30, 2011, these advances were on demand and outstanding in the amount of approximately $456,045 with no stated interest rate.

The Company borrowed $149,851 from a related party at 12.0% interest which matures in December 2011.

Off-Balance Sheet Arrangements

We currently have no off-balance sheet arrangements apart from operating leases that have, or are reasonably likely to have, a current or future effect on our financial conditions.  We currently have office lease obligations which expire January 30, 2013.  Our future minimum annual payments under lease are approximately $23,900 for the years ending December 31, 2011 and $47,800 for the years ending December 312012 and $4,000 for year ending December 31, 2013.
 
ITEM 4.  CONTROLS AND PROCEDURES
 
(a)    Disclosure Controls and Procedures.    Our management, with the participation of our principal executive officer (chief executive officer) and principal financial officer (chief financial officer), conducted an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), as of June 30, 2011 (the “Evaluation Date”).  Based on this evaluation, our chief executive officer and chief financial officer concluded that as of the Evaluation Date, our disclosure controls and procedures were effective.
 
(b)    Internal Controls Over Financial Reporting.    There was no change in our internal control over financial reporting (as such term is defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) during the fiscal quarter to which this report relates that has materially affected or is reasonably likely to materially affect our internal control over financial reporting.
 
 
 
21
 

PART II – OTHER INFORMATION
 
ITEM 1.  LEGAL PROCEEDINGS

None.

ITEM 2.  UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

Not applicable.

ITEM 3.  DEFAULTS UPON SENIOR SECURITIES

Not applicable.

ITEM 4.  REMOVED AND RESERVED

Not applicable.

ITEM 5.  OTHER INFORMATION

None.

ITEM 6.  EXHIBITS

Number
Description
31.1
Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2
Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1
Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
32.2
Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101.INS
XBRL Instance Document
101.SCH
XBRL Schema Document
101.CAL
XBRL Calculation Linkbase Document
101.DEF
XBRL Definition Linkbase Document
101.LAB
XBRL Label Linkbase Document
101.PRE
XBRL Presentation Linkbase Document
 
 
 
 
22
 
 
SIGNATURE PAGE
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.


 
CLAVIS TECHNOLOGIES INTERNATIONAL CO., LTD.
 
 
Dated: August 19, 2011
  
 
By:       /s/ HWAN SUP LEE                          
 
Chief Executive Officer
 
(Duly Authorized Officer)
   
 
By:       /s/ SO LIM LEE                                  
 
Chief Financial Officer
 
(Principal Financial and Accounting Officer and Duly Authorized Officer)
   
 
 
 
 
 
 
 
 
 
 
23
 
 EX-31.1 2 clavis_10q-ex3101.htm CERTIFICATION clavis_10q-ex3101.htm
EXHIBIT 31.1
CERTIFICATION PURSUANT TO
18 U.S.C. SECTION 1350,
AS ADOPTED PURSUANT TO
SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

CERTIFICATE OF CHIEF EXECUTIVE OFFICER

I, Hwan Sup Lee, certify that:

1.           I have reviewed this Quarterly Report on Form 10-Q of Clavis Technologies International Co., Ltd.;

2.           Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.           Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.           The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the company and have:
 
(a)         Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
 
(b)         Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding their reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
 
(c)         Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
 
(d)         Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.           The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the company’s board of directors (or persons performing the equivalent functions):

(a)         All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
 
(b)        Any fraud, whether or not material, that involved management or other employees who have a significant role in the registrant's internal control over financial reporting.
 

    /s/ HWAN SUP LEE                                         
Hwan Sup Lee, Chief Executive Officer
Date: August 19, 2011
 
 
 EX-31.2 3 clavis_10q-ex3102.htm CERTIFICATION clavis_10q-ex3102.htm
EXHIBIT 31.2
CERTIFICATION PURSUANT TO
18 U.S.C. SECTION 1350,
AS ADOPTED PURSUANT TO
SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

CERTIFICATE OF CHIEF FINANCIAL OFFICER

I, So Lim Lee, certify that:

1.           I have reviewed this Quarterly Report on Form 10-Q of Clavis Technologies International Co., Ltd.;

2.           Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.           Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.           The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the company and have:
 
(a)        Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
 
(b)       Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding their reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
 
(c)       Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
 
(d)       Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.           The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the company’s board of directors (or persons performing the equivalent functions):

(a)       All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(c)  Any fraud, whether or not material, that involved management or other employees who have a significant role in the registrant's internal control over financial reporting.
 

    /s/ So Lim Lee                                           
So Lim Lee, Chief Financial Officer
Date: August 19, 2011
 
 
 
 EX-32.1 4 clavis_10q-ex3201.htm CERTIFICATION clavis_10q-ex3201.htm
EXHIBIT 32.1
 
CERTIFICATION OF CHIEF EXECUTIVE OFFICER
PURSUANT TO 18 U.S.C. SECTION 1350
AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002


In connection with the Quarterly Report of Clavis Technologies International Co., Ltd. (the “Company”) on Form 10-Q for the quarter ended June 30, 2011 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Hwan Sup Lee, Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that:

 
(1)
The Report fully complies with the requirements of section 13(a) of the Securities Exchange Act of 1934; and

 
(2)
The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Company.

    /s/ Hwan Sup Lee                                               
Hwan Sup Lee, Chief Executive Officer

August 19, 2011

A signed original of this written statement required by Section 906 has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

 
 
 
 
 
 
 
 
 
 
 
EX-32.2 5 clavis_10q-ex3202.htm CERTIFICATION clavis_10q-ex3202.htm
EXHIBIT 32.2
 
CERTIFICATION OF CHIEF EXECUTIVE OFFICER
PURSUANT TO 18 U.S.C. SECTION 1350
AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002


In connection with the Quarterly Report of Clavis Technologies International Co., Ltd. (the “Company”) on Form 10-Q for the quarter ended June 30, 2011 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, So Lim Lee, Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that:

 
(1)
The Report fully complies with the requirements of section 13(a) of the Securities Exchange Act of 1934; and

 
(2)
The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

      /s/ So Lim Lee                                          
 
So Lim Lee, Chief Financial Officer
  
August 19, 2011
  

A signed original of this written statement required by Section 906 has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

 
 
 
 
 
 
 
 
 
 
 
EX-101.INS 6 ctlh-20110630.xml XBRL EXHIBIT 0001482550 2011-06-30 0001482550 2010-12-31 0001482550 2011-04-01 2011-06-30 0001482550 2010-04-01 2010-06-30 0001482550 2011-01-01 2011-06-30 0001482550 2010-01-01 2010-06-30 0001482550 2009-12-31 0001482550 2010-06-30 0001482550 2011-08-19 0001482550 2011-08-17 iso4217:USD iso4217:USD xbrli:shares xbrli:shares 180 34257 4412 53564 53793 2514 178 56258 92640 869 905 -28191 -26830 85318 120375 187313 178272 540752 367505 605896 541658 65013 121751 32882 12357 1431856 1221543 352520 335505 1784376 1557048 1000 1000 0.001 0.001 10000000 10000000 1000000 1000000 1000000 1000000 62375 62375 0.001 0.001 100000000 100000000 62375200 62375200 62375200 62375200 2053732 2053732 -29526 72895 -3786639 -3626675 -1699058 -1436673 85318 120375 938 20986 57257 70869 681 5740 43099 59189 257 15246 14158 11680 40848 62716 60024 129961 49978 77709 115245 194005 308001 308001 90826 448426 175269 631967 -90569 -433180 -161111 -620287 11243 17374 22308 30451 11730 23602 -85 -178 -147 -207 402 -17552 1147 -30658 -90167 -450732 -159964 -650945 -90167 -450732 -159964 -650945 -0.01 -0.01 -0.01 -0.01 62375200 62109702 62375200 62109702 78 3634 308001 7258 12950 4495 -2990 -2256 49094 1245 149905 134715 50465 19410 -45518 2868 -43318 -68257 -44012 -70065 -226679 88880 1071 53934 135221 18285 12758 5434 35649 215706 -34416 -10973 339 -2277 17401 4151 22335 31080 Clavis Technologies International Co., Ltd. 10-Q --12-31 62375200 5442272 false 0001482550 Yes No Smaller Reporting Company No 2011 Q2 2011-06-30 <div style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Note 1 - BASIS OF PRESENTATION</font> </div><br/><div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The accompanying unaudited condensed consolidated financial statements of Clavis Technologies International Co., Ltd. (the &#8220;Company") has been prepared in accordance with U.S. generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, these condensed consolidated financial statements do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In management&#8217;s opinion, the accompanying unaudited condensed consolidated financial statements contain all adjustments (consisting only of normal recurring adjustments), necessary to state fairly the financial information included herein.</font> </div><br/><div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make judgments, estimates and assumptions that affect the reported in the financial statements and accompanying notes. Actual results may differ materially from these estimates.&#160;&#160;In addition, any changes in these estimates or their related assumptions could have a materially adverse effect on the Company's financial condition and results of operating.</font> </div><br/><div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Where the functional currency of the Company's foreign subsidiaries is the local currency, all assets and liabilities are translated into U.S. dollars, using the exchange rate on the balance sheet date, and revenues and expenses are translated at average rates prevailing during the period.&#160;&#160;Accounts and transactions denominated in foreign currencies have been re-measured into functional currencies before translated into U.S. dollars.&#160;&#160;Foreign currency transaction gains and losses are included as a component of other income and expense.&#160;&#160;Gains and losses from foreign currency translation are included in the stockholders&#8217; equity (deficit) as a separate component of comprehensive income (loss).</font> </div><br/><div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">These unaudited condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary. All intercompany accounts and transactions have been eliminated in consolidation. While the Company believes that the disclosures are adequate to make the information not misleading, these condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes included in the Company&#8217;s registration statement, filed with the Securities and Exchange Commission.</font> </div><br/><div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Going Concern</font> </div><br/><div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The Company&#8217;s financial statements are presented on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. &#160;The Company has experienced recurring losses over the past years which have resulted in an accumulated deficit of approximately $3.79 million and a working capital deficit of approximately $1.70 million at June 30, 2011.</font> </div><br/><div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The Company&#8217;s ability to continue as a going concern is contingent upon its ability to secure additional financing, increase sales of its product and attain profitable operations. It is the intent of management to continue to raise additional funds to sustain operations and to pursue acquisitions of operating companies in order to generate future profits for the Company.&#160; Although the Company plans to pursue additional equity financing, there can be no assurance that the Company will be able to secure financing when needed or obtain such on terms satisfactory to the Company, if at all.</font> </div><br/><div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The accompanying financial statements do not include any adjustments relating to the recoverability and classification of asset carrying amounts or the amount and classification of liabilities that might result from the outcome of this uncertainty.</font> </div><br/><div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Revenue Recognition</font> </div><br/><div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The Company recognizes revenue when revenue is realized or realizable and earned. Revenue is realized or realizable and earned when all of the following criteria are met: persuasive evidence of an arrangement exists; delivery has occurred or services have been rendered; the price to the buyer is fixed or determinable; and collectability is reasonably assured.</font> </div><br/><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The Company recognizes revenue from sale of RFID hardware and software under the completed contract method accounted for as one element. For the hardware component of the integrated unit, the company has no significant obligations after product shipment other than its standard manufacturing warranty.</font><br/><div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Revenue from maintenance and technical support services are recognized as service is rendered and billed each month under a short-term service agreement.</font> </div><br/><div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Recent Accounting Pronouncements</font> </div><br/><div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">In December 2010, the FASB issued ASU 2010-29, &#8220;Business Combinations (ASC Topic 805): Disclosure of Supplementary Pro Forma Information for Business Combinations &#8211; a consensus of the FASB Emerging Issues Task Force&#8221;.&#160;&#160;This ASU clarifies existing disclosure requirements for public entities with business combinations that occur in the current reporting&#160;&#160;period.&#160;&#160;The ASU stipulates that if an entity is presenting comparative financial statements, revenue and earnings of the combined entity should be disclosed as though the business combinations that occurred during the current year had occurred as of the beginning of the comparative prior annual reporting period.&#160;&#160;The ASU also expands the supplemental pro forma disclosures required by ASC Topic 805 to include a description of the nature and amount of material, nonrecurring pro forma adjustments directly attributable to the business combination included in the reported pro forma revenue and earnings.&#160;&#160;This guidance is effective prospectively for business combinations with acquisition dates on or after the beginning of the first annual reporting period beginning on or after December 15, 2010.&#160;&#160;Early adoption is permitted.&#160;&#160;Adoption of the standard is not expected to have a material impact on the Company&#8217;s consolidated results of operations and financial condition.</font> </div><br/> <div style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Note 2 &#8211; CAPITALIZED COSTS ON CONTRACTS</font> </div><br/><div style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The Company capitalized costs related to in-process customer contracts not yet completed or delivered.&#160;&#160;Those capitalized costs are recognized as cost of goods sold when revenue is realized according to company&#8217;s revenue recognition criteria.&#160;&#160;As of June 30, 2011 and December 31, 2010, total capitalize costs were $53,564 and $53,793, respectively.</font> </div><br/> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Note 3 - PROPERTY AND EQUIPMENT</font> </div><br/><div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Property and equipment consists of the following at June 30, 2011 and December 31, 2010:</font> </div><br/><table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"> <tr> <td align="left" valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">June 30, 2011</font> </div> </td> <td align="left" valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">December 31, 2010</font> </div> </td> <td align="left" valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> </tr> <tr> <td align="left" valign="bottom"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" colspan="2" valign="bottom"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" colspan="2" valign="bottom"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> </tr> <tr style="background-color: #EEEEEE;"> <td valign="bottom" width="72%"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Equipment</font> </div> </td> <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" width="1%"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font> </div> </td> <td align="right" valign="bottom" width="11%"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">105,324</font> </div> </td> <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" width="1%"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font> </div> </td> <td align="right" valign="bottom" width="11%"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">100,245</font> </div> </td> <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> </tr> <tr style="background-color: white;"> <td valign="bottom" width="72%"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Furniture and fixture</font> </div> </td> <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" width="11%"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">10,218</font> </div> </td> <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" width="11%"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">9,725</font> </div> </td> <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> </tr> <tr style="background-color: #EEEEEE;"> <td valign="bottom" width="72%" style="PADDING-BOTTOM: 2px"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Automobile</font> </div> </td> <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">749</font> </div> </td> <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">713</font> </div> </td> <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> </tr> <tr style="background-color: white;"> <td align="left" valign="bottom" width="72%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" width="11%"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">116,291</font> </div> </td> <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" width="11%"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">110,683</font> </div> </td> <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> </tr> <tr style="background-color: #EEEEEE;"> <td valign="bottom" width="72%" style="PADDING-BOTTOM: 2px"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Accumulated depreciation</font> </div> </td> <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(115,422</font> </div> </td> <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font> </div> </td> <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(109,778</font> </div> </td> <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font> </div> </td> </tr> <tr style="background-color: white;"> <td align="left" valign="bottom" width="72%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" width="11%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" width="11%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> </tr> <tr style="background-color: #EEEEEE;"> <td valign="bottom" width="72%" style="PADDING-BOTTOM: 4px"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Net property and equipment</font> </div> </td> <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font> </div> </td> <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 4px double"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">869</font> </div> </td> <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font> </div> </td> <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 4px double"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">905</font> </div> </td> <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> </tr> </table><br/><div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Depreciation expenses for the six months ended June 30, 2011 and 2010&#160;were $78 and $2,253, respectively.</font> </div><br/> <div style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Note 4 - FAIR VALUE MEASUREMENTS</font> </div><br/><div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The Company estimates the fair values of current assets and current liabilities (cash, restricted cash, accounts receivable, accounts payable, and other current liabilities) approximate their reported carrying amounts.</font> </div><br/><div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The following table presents the carrying amounts and estimated fair values of the Company&#8217;s financial instruments at June 30, 2011 and December 31, 2010.&#160;</font> </div><br/><table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"> <tr> <td align="left" valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td colspan="6" valign="bottom" style="BORDER-BOTTOM: black 2px solid"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">June 30, 2011</font> </div> </td> <td align="left" valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td colspan="6" valign="bottom" style="BORDER-BOTTOM: black 2px solid"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">December 31, 2010</font> </div> </td> <td align="left" valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> </tr> <tr> <td align="left" valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Carrying</font> </div> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">amount</font> </div> </td> <td align="left" valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Estimated</font> </div> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Fair value</font> </div> </td> <td align="left" valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Carrying</font> </div> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">amount</font> </div> </td> <td align="left" valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Estimated</font> </div> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Fair value</font> </div> </td> <td align="left" valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> </tr> <tr style="background-color: #EEEEEE;"> <td align="left" valign="bottom"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Financial assets:</font> </div> </td> <td align="left" valign="bottom"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" colspan="14" valign="bottom"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> </tr> <tr style="background-color: white;"> <td valign="bottom" width="44%"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: -29pt; DISPLAY: block; MARGIN-LEFT: 40pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Cash and cash equivalents</font> </div> </td> <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" width="1%"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font> </div> </td> <td align="right" valign="bottom" width="11%"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">180</font> </div> </td> <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" width="1%"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font> </div> </td> <td align="right" valign="bottom" width="11%"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">180</font> </div> </td> <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" width="1%"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font> </div> </td> <td align="right" valign="bottom" width="11%"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">34,257</font> </div> </td> <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" width="1%"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font> </div> </td> <td align="right" valign="bottom" width="11%"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">34,257</font> </div> </td> <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> </tr> <tr style="background-color: #EEEEEE;"> <td align="left" valign="bottom" width="44%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="11%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="11%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" width="11%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" width="11%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> </tr> <tr style="background-color: white;"> <td valign="bottom" width="44%"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: -39pt; DISPLAY: block; MARGIN-LEFT: 40pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Financial liabilities:</font> </div> </td> <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="11%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="11%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" width="11%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" width="11%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> </tr> <tr style="background-color: #EEEEEE;"> <td valign="bottom" width="44%"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: -29pt; DISPLAY: block; MARGIN-LEFT: 40pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Accounts payable</font> </div> </td> <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" width="1%"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font> </div> </td> <td align="right" valign="bottom" width="11%"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">540,752</font> </div> </td> <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" width="1%"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font> </div> </td> <td align="right" valign="bottom" width="11%"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">540,752</font> </div> </td> <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" width="1%"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font> </div> </td> <td align="right" valign="bottom" width="11%"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">367,505</font> </div> </td> <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" width="1%"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font> </div> </td> <td align="right" valign="bottom" width="11%"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">367,505</font> </div> </td> <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> </tr> <tr style="background-color: white;"> <td valign="bottom" width="44%"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: -29pt; DISPLAY: block; MARGIN-LEFT: 40pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Accrued severance benefit</font> </div> </td> <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" width="11%"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">65,013</font> </div> </td> <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" width="11%"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">65,013</font> </div> </td> <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" width="11%"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">121,751</font> </div> </td> <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" width="11%"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">121,751</font> </div> </td> <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> </tr> <tr style="background-color: #EEEEEE;"> <td valign="bottom" width="44%"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: -29pt; DISPLAY: block; MARGIN-LEFT: 40pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Short-term borrowings</font> </div> </td> <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" width="11%"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">187,313</font> </div> </td> <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" width="11%"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">187,313</font> </div> </td> <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" width="11%"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">178,272</font> </div> </td> <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" width="11%"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">178,272</font> </div> </td> <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> </tr> </table><br/><div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The fair values of the financial instruments shown in the above table as of June 30, 2011 and December 31, 2010 represent the amounts that would be received to sell those assets or that would be paid to transfer those liabilities in an orderly transaction between market participants at that date.&#160;&#160;Those fair value measurements maximize the use of observable inputs. However, in situations where there is little, if any, market activity for the asset or liability at the measurement date, the fair value measurement reflects the Company&#8217;s own judgments about the assumptions that market participants would use in pricing the asset or liability. Those judgments are developed by the Company based on the best information available in the circumstances, including expected cash flows and appropriately risk-adjusted discount rates, available observable and unobservable inputs.</font> </div><br/> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Note 5 - SHORT-TERM BORROWINGS</font> </div><br/><div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Short term borrowings consist of the following as of June 30, 2011 and December 31, 2010:</font> </div><br/><table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"> <tr> <td valign="bottom" width="65%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="3%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">June 30, 2011</font> </div> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">December 31, 2010</font> </div> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> </tr> <tr style="background-color: #EEEEEE;"> <td valign="bottom" width="65%" style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"> <div style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; TEXT-INDENT: -10pt; DISPLAY: block; MARGIN-LEFT: 10pt; MARGIN-RIGHT: 0pt"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Line of credit from a bank at interest rate of lender&#8217;s prime plus 2.53%.&#160;&#160;The line is guaranteed by Korea Credit Guarantee Fund and&#160;&#160;matures in December 2011.</font> </div> </td> <td align="right" valign="bottom" width="3%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font> </td> <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">37,462</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font> </td> <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;35,654</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> </tr> <tr style="background-color: white;"> <td valign="bottom" width="65%" style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" width="3%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> </tr> <tr style="background-color: #EEEEEE;"> <td valign="bottom" width="65%"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: -10pt; DISPLAY: block; MARGIN-LEFT: 10pt"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Note payable to an unrelated party bearing interest at 20.4%.&#160;&#160;The note is guaranteed by officer of the Company and due on demand.</font> </div> </td> <td align="right" valign="bottom" width="3%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">93,657</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">89,136</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> </tr> <tr style="background-color: white;"> <td valign="bottom" width="65%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" width="3%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> </tr> <tr style="background-color: #EEEEEE;"> <td valign="bottom" width="65%" style="PADDING-BOTTOM: 2px"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: -10pt; DISPLAY: block; MARGIN-LEFT: 10pt"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Note payable to an unrelated party bearing interest at 12.0%.&#160;&#160;The note is guaranteed by officer of the Company and matures in December 2011.</font> </div> </td> <td align="right" valign="bottom" width="3%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">56,194</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">53,482</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> </tr> <tr style="background-color: white;"> <td valign="bottom" width="65%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" width="3%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> </tr> <tr style="background-color: #EEEEEE;"> <td valign="bottom" width="65%" style="PADDING-BOTTOM: 4px"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 3pt" align="justify"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Total short-term borrowings</font> </div> </td> <td align="right" valign="bottom" width="3%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font> </td> <td valign="bottom" width="11%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">187,313</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font> </td> <td valign="bottom" width="11%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">178,272</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> </tr> </table><br/> <div style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Note 6 - RELATED PARTY TRANSACTIONS</font> </div><br/><div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">From time to time, the Company advances funds needed for working capital from the Company&#8217;s directors and stockholders. The advances are due on demand and borrowings outstanding were $456,045 (<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman">&#8361;</font>486,933,117) and $399,040&#160;(<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman">&#8361;</font>447,675,393) as of June 30, 2011 and December 31, 2010, respectively.</font> </div><br/><div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The Company has related party loan in the aggregate amount of $149,851 (<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman">&#8361;</font>160,000,000) bearing interest at 12.0% interest per annum which matures in December 2011.</font> </div><br/> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Note 7 &#8211; TECHNICAL FEE PAYABLE</font> </div><br/><div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The Company secured Industry Development Contracts (the &#8220;Contracts&#8221;) in December 2004 and 2007 from Korea Global ID Corporation (&#8220;KGIC&#8221;), a corporation controlled by the Korean government.&#160;&#160;These contracts aimed to develop wireless recognition software and middleware technology.</font> </div><br/><div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The contracts with KGIC were completed, finalized and approved by KGIC in the latter part of 2010.&#160;&#160;Under the terms of the contracts, the Company was assessed with technical fees by a government agency for the technical knowledge the Company gained from performing the projects. Total assessed fees was $352,520 (&#65510;376,396,000), and the agency has allowed that the amount be paid in five annual installment through 2014.</font> </div><br/> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Note 8 - ACCRUED SEVERANCE BENEFIT</font> </div><br/><div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Employees and directors with one year or more of service are entitled to receive a lump-sum payment upon termination of their employment based on their length of service and rate of pay at the time of termination.&#160;&#160;Accrued severance benefits represent the amount which would be payable assuming all eligible employees and directors are to terminate their employment as of the balance sheet date. The accrued severance benefits at June 30, 2011 and December 31, 2010, were $65,013 and $121,751, respectively.</font> </div><br/> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Note 9 - COMPREHENSIVE&#160;&#160;LOSS</font> </div><br/><div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The components of comprehensive loss, net of tax, are as follows for the three and six months ended June 30, 2011 and 2010, respectively:</font> </div><br/><table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"> <tr> <td valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center"> <div style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Three Months</font> </div> <div style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Ended</font> </div> <div style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">June 30, 2011</font> </div> </td> <td nowrap="nowrap" valign="bottom" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center"> <div style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Three Months</font> </div> <div style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Ended&#160;</font> </div> <div style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">June 30, 2010</font> </div> </td> <td nowrap="nowrap" valign="bottom" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center"> <div style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Six Months</font> </div> <div style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Ended&#160;</font> </div> <div style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">June 30, 2011</font> </div> </td> <td nowrap="nowrap" valign="bottom" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center"> <div style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Six Months</font> </div> <div style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Ended&#160;</font> </div> <div style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">June 30, 2010</font> </div> </td> <td nowrap="nowrap" valign="bottom" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> </tr> <tr style="background-color: #EEEEEE;"> <td align="left" valign="bottom" width="44%"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Net loss</font> </div> </td> <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font> </td> <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(90,167</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font> </td> <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font> </td> <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(450,732</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font> </td> <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font> </td> <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(159,964</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font> </td> <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font> </td> <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(650,945</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font> </td> </tr> <tr style="background-color: white;"> <td valign="bottom" width="44%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> </tr> <tr style="background-color: #EEEEEE;"> <td align="left" valign="bottom" width="44%"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Other comprehensive income (loss), net of tax:</font> </div> </td> <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> </tr> <tr style="background-color: white;"> <td align="left" valign="bottom" width="44%" style="PADDING-BOTTOM: 2px"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;Foreign currency translation adjustments</font> </div> </td> <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(52,202</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font> </td> <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">97,518</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(102,421</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font> </td> <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">71,205</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> </tr> <tr style="background-color: #EEEEEE;"> <td valign="bottom" width="44%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> </tr> <tr style="background-color: white;"> <td align="left" valign="bottom" width="44%" style="PADDING-BOTTOM: 4px"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Total comprehensive loss</font> </div> </td> <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font> </td> <td valign="bottom" width="11%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(142,369</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font> </td> <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font> </td> <td valign="bottom" width="11%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(353,214</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font> </td> <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font> </td> <td valign="bottom" width="11%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(262,385</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font> </td> <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font> </td> <td valign="bottom" width="11%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(579,740</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font> </td> </tr> </table><br/> <div style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Note 10 &#8211; LOSS&#160;&#160;PER SHARE</font> </div><br/><div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The following reconciles the numerators and denominators of the basic and diluted per share computation for the three and six months ended June 30, 2011 and 2010, respectively:</font> </div><br/><table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"> <tr> <td valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center"> <div style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Three Months Ended</font> </div> <div style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">June 30, 2011</font> </div> </td> <td nowrap="nowrap" valign="bottom" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center"> <div style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Three Months Ended&#160;</font> </div> <div style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">June 30, 2010</font> </div> </td> <td nowrap="nowrap" valign="bottom" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center"> <div style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Six Months Ended&#160;</font> </div> <div style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">June 30, 2011</font> </div> </td> <td nowrap="nowrap" valign="bottom" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center"> <div style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Six Months Ended&#160;</font> </div> <div style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">June 30, 2010</font> </div> </td> <td nowrap="nowrap" valign="bottom" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> </tr> <tr style="background-color: #EEEEEE;"> <td align="left" valign="bottom"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Numerator for basic and diluted earning (loss) per share:</font> </div> </td> <td valign="bottom"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td colspan="2" valign="bottom"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td nowrap="nowrap" valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td colspan="2" valign="bottom"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td nowrap="nowrap" valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td colspan="2" valign="bottom"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td nowrap="nowrap" valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td colspan="2" valign="bottom"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td nowrap="nowrap" valign="bottom" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> </tr> <tr style="background-color: white;"> <td align="left" valign="bottom" width="44%"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Net loss</font> </div> </td> <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font> </td> <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(90,167</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font> </td> <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font> </td> <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(450,732</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font> </td> <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font> </td> <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(159,964</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font> </td> <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font> </td> <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(650,945</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font> </td> </tr> <tr style="background-color: #EEEEEE;"> <td valign="bottom" width="44%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> </tr> <tr style="background-color: white;"> <td align="left" valign="bottom" width="44%"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Denominator:</font> </div> </td> <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> </tr> <tr style="background-color: #EEEEEE;"> <td align="left" valign="bottom" width="44%" style="PADDING-BOTTOM: 2px"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;Basic and diluted weighted average shares outstanding</font> </div> </td> <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">62,375,200</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">62,109,702</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">62,375,200</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">62,109,702</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> </tr> <tr style="background-color: white;"> <td valign="bottom" width="44%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> </tr> <tr style="background-color: #EEEEEE;"> <td align="left" valign="bottom" width="44%" style="PADDING-BOTTOM: 4px"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Basic and diluted loss per share</font> </div> </td> <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font> </td> <td valign="bottom" width="11%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(0.01</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font> </td> <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font> </td> <td valign="bottom" width="11%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(0.01</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font> </td> <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font> </td> <td valign="bottom" width="11%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(0.01</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font> </td> <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font> </td> <td valign="bottom" width="11%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(0.02</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font> </td> </tr> </table><br/> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Note 11 - INCOME TAXES</font> </div><br/><div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The Company adopted the provisions of FASB ASC 740-10 on January 1, 2008, and there was no material effect on the financial statements at the date of adoption. There was no cumulative effect related to adopting FASB ASC 740-10.</font> </div><br/><div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Corporate income tax rates applicable to the Korean subsidiaries in 2011 and 2010 were 16.5% of the first 100 million Korean Won ($78,800) of taxable income and 29.7% on the excess.&#160;&#160;For the United States operations, the corporate tax rates range from 10% to 34%. The Company provided a valuation allowance equal to the deferred tax amounts resulting from the tax losses in the United States, as it is not likely that they will be realized.&#160;&#160;Tax losses from the Korean subsidiaries can be carried forward five years to offset future taxable income.&#160;&#160;The U.S. tax losses can be carried forward for 20 years to offset future taxable income. The Company has accumulated net operating loss of approximately $3.53 million and $99,000 in its Korea and U.S. operations, respectively.&#160;&#160;The utilization of the Korean losses expires in years 2011 to 2014 and the U.S. losses in year 2030.</font> </div><br/><div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">U.S. federal income taxes have not been provided for the undistributed earnings of the Company&#8217;s foreign subsidiaries.&#160; It is the Company&#8217;s intention that such undistributed earnings be permanently reinvested offshore.</font> </div><br/><div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The Company has deferred income tax assets as follows as of June 30, 2011 and December 31, 2010:</font> </div><br/><table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"> <tr> <td align="left" valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">June 30, 2011</font> </div> </td> <td align="left" valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td colspan="2" valign="bottom" style="BORDER-BOTTOM: black 2px solid"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">December 31, 2010</font> </div> </td> <td align="left" valign="bottom" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> </tr> <tr> <td align="left" valign="bottom"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" colspan="2" valign="bottom"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" colspan="2" valign="bottom"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> </tr> <tr style="background-color: #EEEEEE;"> <td valign="bottom"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Deferred income tax assets</font> </div> </td> <td align="left" valign="bottom"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" colspan="2" valign="bottom"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" colspan="2" valign="bottom"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> </tr> <tr style="background-color: white;"> <td valign="bottom" width="72%" style="PADDING-BOTTOM: 2px"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;Net operating loss carryforwards</font> </div> </td> <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font> </div> </td> <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">12,500</font> </div> </td> <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font> </div> </td> <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">12,500</font> </div> </td> <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> </tr> <tr style="background-color: #EEEEEE;"> <td align="left" valign="bottom" width="72%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" width="11%"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">12,500</font> </div> </td> <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" width="11%"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">12,500</font> </div> </td> <td align="left" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> </tr> <tr style="background-color: white;"> <td valign="bottom" width="72%" style="PADDING-BOTTOM: 2px"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;Valuation allowance</font> </div> </td> <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(12,500</font> </div> </td> <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font> </div> </td> <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(12,500</font> </div> </td> <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">)</font> </div> </td> </tr> <tr style="background-color: #EEEEEE;"> <td align="left" valign="bottom" width="72%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font> </div> </td> <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 4px double"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font> </div> </td> <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font> </div> </td> <td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 4px double"> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font> </div> </td> <td align="left" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> </tr> </table><br/><div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Management determined that it is more likely than not that the deferred tax assets will not be realized through the reduction of future income tax payments, and accordingly, a full valuation allowance has been recorded for the deferred income tax assets.</font> </div><br/> <div style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Note 12 - COMMITMENT</font> </div><br/><div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The Company is committed to lease obligations for its offices expiring in January 2013. Rental expenses incurred for the six months ended June 30, 2011 and 2010 were approximately $10,100 and $6,700, respectively.</font> </div><br/><div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Future minimum annual payments under the lease are as follows for the years ending December 31:</font> </div><br/><table cellpadding="0" cellspacing="0" width="65%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"> <tr style="background-color: #EEEEEE;"> <td valign="bottom" width="60%" style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; PADDING-LEFT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"> <div style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2011</font> </div> </td> <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font> </td> <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">23,900</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> </tr> <tr style="background-color: white;"> <td valign="bottom" width="60%" style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; PADDING-LEFT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"> <div style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2012</font> </div> </td> <td align="right" valign="bottom" width="1%"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="11%" style="TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">47,800</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> </tr> <tr style="background-color: #EEEEEE;"> <td valign="bottom" width="60%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; TEXT-INDENT: 0pt; PADDING-LEFT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"> <div style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2013</font> </div> </td> <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">4,000</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> </tr> <tr style="background-color: white;"> <td valign="bottom" width="60%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px; TEXT-INDENT: 0pt; PADDING-LEFT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"> <div style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Total</font> </div> </td> <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: left"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font> </td> <td valign="bottom" width="11%" style="BORDER-BOTTOM: black 4px double; TEXT-ALIGN: right"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">75,700</font> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left; PADDING-BOTTOM: 4px"> <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font> </td> </tr> </table><br/> <div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Note 13 - CONCENTRATION AND UNCERTAINTY</font> </div><br/><div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Concentration in Customer</font> </div><br/><div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">For the three months ended June 30, 2010, one customer accounted for 100% of sales. For the six months ended June 30, 2011 and 2010, two largest customers accounted for 67% and 100% of sales, respectively.</font> </div><br/><div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Operation in Foreign Country</font> </div><br/><div style="LINE-HEIGHT: 1.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Substantially, all of the Company&#8217;s operations are carried out in the Republic of Korea. The Company&#8217;s operations are subject to various political, economic, and other risks and uncertainties inherent in the country.</font> </div><br/> EX-101.SCH 7 ctlh-20110630.xsd XBRL EXHIBIT 001 - Statement - CONDENSED CONSOLIDATED BALANCE SHEETS link:presentationLink link:definitionLink link:calculationLink 002 - Statement - CONDENSED CONSOLIDATED BALANCE SHEETS (Parentheticals) link:presentationLink link:definitionLink link:calculationLink 003 - Statement - CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS link:presentationLink link:definitionLink link:calculationLink 004 - Statement - CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS link:presentationLink link:definitionLink link:calculationLink 005 - Disclosure - Note 1 - BASIS OF PRESENTATION link:presentationLink link:definitionLink link:calculationLink 006 - Disclosure - Note 2 - CAPITALIZED COSTS ON CONTRACTS link:presentationLink link:definitionLink link:calculationLink 007 - Disclosure - Note 3 - PROPERTY AND EQUIPMENT link:presentationLink link:definitionLink link:calculationLink 008 - Disclosure - Note 4 - FAIR VALUE MEASUREMENTS link:presentationLink link:definitionLink link:calculationLink 009 - Disclosure - Note 5 - SHORT-TERM BORROWINGS link:presentationLink link:definitionLink link:calculationLink 010 - Disclosure - Note 6 - RELATED PARTY TRANSACTIONS link:presentationLink link:definitionLink link:calculationLink 011 - Disclosure - Note 7 - TECHNICAL FEE PAYABLE link:presentationLink link:definitionLink link:calculationLink 012 - Disclosure - Note 8 - ACCRUED SEVERANCE BENEFIT link:presentationLink link:definitionLink link:calculationLink 013 - Disclosure - Note 9 - COMPREHENSIVE LOSS link:presentationLink link:definitionLink link:calculationLink 014 - Disclosure - Note 10 - LOSS PER SHARE link:presentationLink link:definitionLink link:calculationLink 015 - Disclosure - Note 11 - INCOME TAXES link:presentationLink link:definitionLink link:calculationLink 016 - Disclosure - Note 12 - COMMITMENT link:presentationLink link:definitionLink link:calculationLink 017 - Disclosure - Note 13 - CONCENTRATION AND UNCERTAINTY link:presentationLink link:definitionLink link:calculationLink 000 - Disclosure - Document And Entity Information link:presentationLink link:definitionLink link:calculationLink EX-101.CAL 8 ctlh-20110630_cal.xml XBRL EXHIBIT EX-101.DEF 9 ctlh-20110630_def.xml XBRL EXHIBIT EX-101.LAB 10 ctlh-20110630_lab.xml XBRL EXHIBIT EX-101.PRE 11 ctlh-20110630_pre.xml XBRL EXHIBIT XML 12 R3.htm IDEA: XBRL DOCUMENT  v2.3.0.11
CONDENSED CONSOLIDATED BALANCE SHEETS (Parentheticals) (USD $)
Jun. 30, 2011
Dec. 31, 2010
Preferred stock par value (in Dollars per share) $ 0.001 $ 0.001
Preferred stock shares authorized 10,000,000 10,000,000
Preferred stock shares issued 1,000,000 1,000,000
Preferred stock shares outstanding 1,000,000 1,000,000
Common stock par value (in Dollars per share) $ 0.001 $ 0.001
Common stock shares authorized 100,000,000 100,000,000
Common stock shares issued 62,375,200 62,375,200
Common stock shares outstanding 62,375,200 62,375,200
XML 13 R4.htm IDEA: XBRL DOCUMENT  v2.3.0.11
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
 3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
NET REVENUES $ 938 $ 20,986 $ 57,257 $ 70,869
COST OF REVENUES 681 5,740 43,099 59,189
GROSS PROFITS (LOSSES) 257 15,246 14,158 11,680
OPERATING EXPENSES        
Research and development 40,848 62,716 60,024 129,961
Selling, general and administrative expenses 49,978 77,709 115,245 194,005
Technical fees   308,001   308,001
Total expenses 90,826 448,426 175,269 631,967
LOSS FROM OPERATIONS (90,569) (433,180) (161,111) (620,287)
OTHER INCOME (EXPENSES)        
Interest expense, net (11,243) (17,374) (22,308) (30,451)
Gain on foreign currency transaction 11,730   23,602  
Other income (expense), net (85) (178) (147) (207)
[OtherNonoperatingIncomeExpense] 402 (17,552) 1,147 (30,658)
LOSS BEFORE INCOME TAXES PROVISION (90,167) (450,732) (159,964) (650,945)
Income tax provision        
NET LOSS $ (90,167) $ (450,732) $ (159,964) $ (650,945)
LOSS PER SHARE - basic and diluted (in Dollars per share) $ (0.01) $ (0.01) $ (0.01) $ (0.01)
WEIGHTED AVERAGE NUMBER OF COMMON STOCKS OUTSTANDING - basic and diluted (in Shares) 62,375,200 62,109,702 62,375,200 62,109,702
XML 14 R1.htm IDEA: XBRL DOCUMENT  v2.3.0.11
Document And Entity Information (USD $)
 6 Months Ended
Jun. 30, 2011
Aug. 19, 2011
Aug. 17, 2011
Document and Entity Information [Abstract]      
Entity Registrant Name Clavis Technologies International Co., Ltd.    
Document Type 10-Q    
Current Fiscal Year End Date --12-31    
Entity Common Stock, Shares Outstanding   62,375,200  
Entity Public Float     $ 5,442,272
Amendment Flag false    
Entity Central Index Key 0001482550    
Entity Current Reporting Status Yes    
Entity Voluntary Filers No    
Entity Filer Category Smaller Reporting Company    
Entity Well-known Seasoned Issuer No    
Document Period End Date Jun. 30, 2011
Document Fiscal Year Focus 2011    
Document Fiscal Period Focus Q2    
XML 15 Show.js IDEA: XBRL DOCUMENT /** * Rivet Software Inc. * * @copyright Copyright (c) 2006-2011 Rivet Software, Inc. All rights reserved. * Version 2.1.0.1 * */ var moreDialog = null; var Show = { Default:'raw', more:function( obj ){ var bClosed = false; if( moreDialog != null ) { try { bClosed = moreDialog.closed; } catch(e) { //Per article at http://support.microsoft.com/kb/244375 there is a problem with the WebBrowser control // that somtimes causes it to throw when checking the closed property on a child window that has been //closed. So if the exception occurs we assume the window is closed and move on from there. bClosed = true; } if( !bClosed ){ moreDialog.close(); } } obj = obj.parentNode.getElementsByTagName( 'pre' )[0]; var hasHtmlTag = false; var objHtml = ''; var raw = ''; //Check for raw HTML var nodes = obj.getElementsByTagName( '*' ); if( nodes.length ){ objHtml = obj.innerHTML; }else{ if( obj.innerText ){ raw = obj.innerText; }else{ raw = obj.textContent; } var matches = raw.match( /<\/?[a-zA-Z]{1}\w*[^>]*>/g ); if( matches && matches.length ){ objHtml = raw; //If there is an html node it will be 1st or 2nd, // but we can check a little further. var n = Math.min( 5, matches.length ); for( var i = 0; i < n; i++ ){ var el = matches[ i ].toString().toLowerCase(); if( el.indexOf( '= 0 ){ hasHtmlTag = true; break; } } } } if( objHtml.length ){ var html = ''; if( hasHtmlTag ){ html = objHtml; }else{ html = ''+ "\n"+''+ "\n"+' Report Preview Details'+ "\n"+' '+ "\n"+''+ "\n"+''+ objHtml + "\n"+''+ "\n"+''; } moreDialog = window.open("","More","width=700,height=650,status=0,resizable=yes,menubar=no,toolbar=no,scrollbars=yes"); moreDialog.document.write( html ); moreDialog.document.close(); if( !hasHtmlTag ){ moreDialog.document.body.style.margin = '0.5em'; } } else { //default view logic var lines = raw.split( "\n" ); var longest = 0; if( lines.length > 0 ){ for( var p = 0; p < lines.length; p++ ){ longest = Math.max( longest, lines[p].length ); } } //Decide on the default view this.Default = longest < 120 ? 'raw' : 'formatted'; //Build formatted view var text = raw.split( "\n\n" ) >= raw.split( "\r\n\r\n" ) ? raw.split( "\n\n" ) : raw.split( "\r\n\r\n" ) ; var formatted = ''; if( text.length > 0 ){ if( text.length == 1 ){ text = raw.split( "\n" ) >= raw.split( "\r\n" ) ? raw.split( "\n" ) : raw.split( "\r\n" ) ; formatted = "

"+ text.join( "

\n" ) +"

"; }else{ for( var p = 0; p < text.length; p++ ){ formatted += "

" + text[p] + "

\n"; } } }else{ formatted = '

' + raw + '

'; } html = ''+ "\n"+''+ "\n"+' Report Preview Details'+ "\n"+' '+ "\n"+''+ "\n"+''+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+'
'+ "\n"+' formatted: '+ ( this.Default == 'raw' ? 'as Filed' : 'with Text Wrapped' ) +''+ "\n"+'
'+ "\n"+' '+ "\n"+'
'+ "\n"+' '+ "\n"+'
'+ "\n"+''+ "\n"+''; moreDialog = window.open("","More","width=700,height=650,status=0,resizable=yes,menubar=no,toolbar=no,scrollbars=yes"); moreDialog.document.write(html); moreDialog.document.close(); this.toggle( moreDialog ); } moreDialog.document.title = 'Report Preview Details'; }, toggle:function( win, domLink ){ var domId = this.Default; var doc = win.document; var domEl = doc.getElementById( domId ); domEl.style.display = 'block'; this.Default = domId == 'raw' ? 'formatted' : 'raw'; if( domLink ){ domLink.innerHTML = this.Default == 'raw' ? 'with Text Wrapped' : 'as Filed'; } var domElOpposite = doc.getElementById( this.Default ); domElOpposite.style.display = 'none'; }, LastAR : null, showAR : function ( link, id, win ){ if( Show.LastAR ){ Show.hideAR(); } var ref = link; do { ref = ref.nextSibling; } while (ref && ref.nodeName != 'TABLE'); if (!ref || ref.nodeName != 'TABLE') { var tmp = win ? win.document.getElementById(id) : document.getElementById(id); if( tmp ){ ref = tmp.cloneNode(true); ref.id = ''; link.parentNode.appendChild(ref); } } if( ref ){ ref.style.display = 'block'; Show.LastAR = ref; } }, toggleNext : function( link ){ var ref = link; do{ ref = ref.nextSibling; }while( ref.nodeName != 'DIV' ); if( ref.style && ref.style.display && ref.style.display == 'none' ){ ref.style.display = 'block'; if( link.textContent ){ link.textContent = link.textContent.replace( '+', '-' ); }else{ link.innerText = link.innerText.replace( '+', '-' ); } }else{ ref.style.display = 'none'; if( link.textContent ){ link.textContent = link.textContent.replace( '-', '+' ); }else{ link.innerText = link.innerText.replace( '-', '+' ); } } }, hideAR : function(){ Show.LastAR.style.display = 'none'; } } XML 16 R12.htm IDEA: XBRL DOCUMENT  v2.3.0.11
Note 7 - TECHNICAL FEE PAYABLE
 6 Months Ended
Jun. 30, 2011
Other Liabilities Disclosure [Text Block]
Note 7 – TECHNICAL FEE PAYABLE

The Company secured Industry Development Contracts (the “Contracts”) in December 2004 and 2007 from Korea Global ID Corporation (“KGIC”), a corporation controlled by the Korean government.  These contracts aimed to develop wireless recognition software and middleware technology.

The contracts with KGIC were completed, finalized and approved by KGIC in the latter part of 2010.  Under the terms of the contracts, the Company was assessed with technical fees by a government agency for the technical knowledge the Company gained from performing the projects. Total assessed fees was $352,520 (￦376,396,000), and the agency has allowed that the amount be paid in five annual installment through 2014.

XML 17 R17.htm IDEA: XBRL DOCUMENT  v2.3.0.11
Note 12 - COMMITMENT
 6 Months Ended
Jun. 30, 2011
Commitments and Contingencies Disclosure [Text Block]
Note 12 - COMMITMENT

The Company is committed to lease obligations for its offices expiring in January 2013. Rental expenses incurred for the six months ended June 30, 2011 and 2010 were approximately $10,100 and $6,700, respectively.

Future minimum annual payments under the lease are as follows for the years ending December 31:

2011
  $ 23,900  
2012
    47,800  
2013
    4,000  
Total
  $ 75,700  

ZIP 18 0001019687-11-002737-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001019687-11-002737-xbrl.zip M4$L#!!0````(`!-K$S_=!2-1J.[`8(?_Z?7TSZ3D,1N0GSM<:G1LV^3^7=:3SN+YHM[CVI7 M80)WO80^$;@6/I$8_H;[LR19'!\=/3\_'WK0E'DT)BQ*8X\PO*#U>J<:_OSW M?WU$)FN2#:'F,=^D.[;TDF)6:>X'[1%E"O!E*<(2( M]+ZER_3]@H%,O'\D;N9-4]9+E@M2H)^X[)$WSN]PZCW=Z%E&_E!`P]\WP,?; MCRXKQ`TV-/[U"[26T$Q==]$(!F\T8*$LLDUCL$F;HD7^@$\JFF'$.YQ&3T=P MHX'^2TW89XO3-D:CT1&_NVK*FMH!!N/HUY^^W'LS,G=[J[X]Y2:G:1^1Q#'C M=^_(1.,DCU'UWW]@=+X(4(_\VBPFD^\_H#'T\AX_?&'^AZ-30.' M4QT$LH>FX^@?CXK'9/I'!8/\TH+$-/++++DFDE.A\W[/0GK9M16EXCDAXU$F MY$I[):$-(;1Q3CR@JK]OH?6>88*A[2VT^>_+.)H;XT6,FGR(WG.?@Z!Q<@[^ M->MU&P;;QZ/BJJ;)K4GH2VV%A>376BK+DI6E%\IZC[924I:^@[+TCI1E"V7] MX(9_/[2+TNS4 MS90\Y$(;(XBDWZGG*,M!&Z#2D0N(4PM""_L*!?:QE M%L`OU'(,S2<>G;L!Y$'@W8PAV.A.O$X[1UA-",H(+=MT!BTP5E!>A4_0,(J7 MUR1I#\:V#;/`(M,\K?=(0!R4\T@`1QRF["GT,L<00D(?X9L,9R M"+N);^-H&KMSUKXO'@\3[)N.!*)$ M];0MR\U2C\R^K2NR!.N`Z3)9W@8PA8).T(,LYM!PBU/8+/2P/Y+UOIY%@][; M(MJB$]UIC>B<+")&]QD6/7-HC(P"0$ZQ-G.HL-HL:,_L#RU=@=6^0WWH6$;- ML%MPV3*"3=T:.$ULRGSN9U&(^(<#`,B2/VT"\P4QVA+#5 MUYWAJ+\64B.WNLWNBW%+U&`;_=+,TPKC!004T9+DS;]0]Y$& MM!LE.KH\R+9RJDY=>T';YG6,@6/LAJT,CL<676K+,H=#:22NH5_540L8VS1C MR;F'(HPN%6'8,.\XTN!K[HU]`&Q3@6DXMK4;@*JBKJ/0V]LD'-,Q]?6=4?#H M"L\61VTY)4>]"QZIV1ZF,1C:UJ#9-!IF2T6>6ZS!<0:Z/53E>1;-YS29\PP] MY&D:3.4D]':5^X4=AS3X_D,2IP174COB4Y-U&Q](JB8$^M2_3R+O]WU++[JN ME_*U*NF:F]V1_9:NW),]S*4W\7V",P1OGM<"2XA6!4)EQ5@?3O5#73?605O' MMC&WZ@KO!DV^&E[>BHW3!&)A^@?Q"YQ9>5%9I5?7EZ*[]0U=7F6WS?AWA+=! M@Z\([XJQM"O-;48F."EVJA(L18UU".LF37!MP0??^18JD]AU#K`3Y6T&B'-. M%'8Q$?3-4M)?)5PON._`>?,FZNL[0]:)F^=CP=P(:JTW;8=HFYXZ1=2=`I>PYN_;K>V,;^SXD,U'H M!K1+Q-@U26XF#^[+/DL'(\[-F!^9PY.R! MNJ;P.Y*X-"3^A1N'6/V6*)Z3"?7H'H64GC48]ON6M&:UG5NUQ+4?OBUK.E;? M[/?EN&1W?'R\SZ+`)S'#]:YDN8>^C/YHI,O%Y3KUI@62G2!L48EA6Z`2:T<( M4G%F'/I=ZJ2R'+:-42)A2K8LPJ[?U%U9CK5DXRG3 M;UC<4P>P?J-TU?./AOT-$-KR7[_WN+(Z,RCMX>F,__KMO!7_K)?6Z#?SQQTG M-Y/L=A?=WQ^6L@2)>F-PI,A=M>^=@:VO9=^.M6JWVY8^&JT7O1USU3YW1L90 ME?GG&*;CVSB:;)ZW5#N\9.P2[=-67%4[VG!,N[^&;SMY5?O9L`UY>NR`LVHG M&T9?WL"XB?,=8<2-/=P\>`Y6$$1\#TRV/ZJ+7K?UH;PRLI%?W>NWAJ=J'GUS M8/3?'IZJ#?5UW;3?'IZRH9FC4=_8!5]E4B-\WZ)X.3:`I\;^G(:4);&+[\)V M:8:CD;P/4(UQ+7[>&ZZJ60X&`WWTY\-5=G7H99T6>+L&K&RX(UO7]P>,3I4P MQHL%EV3SLJIJUUOZL+)P5N;1M,:CCD)50;NCN%G@6PB@Q$Q9&V$HYPCZ4"Y\ MU'@T^)2=<*AVBFT/[2U`VH-0'F4#QY0#]DY!J!I&WS)&_4$+$$6%IPO#Z(UT MIU$7!9M-MJ$&1M4Z>K9EE5X9:42S#Q)5$^D9?0-^7A&)JIWT^J9N#IL,92T2 M?@H&85U&GX9ARKNT*AS:\U?./@;6P'X%_JKV8)K@R%^!O_HT8LM[*#?SOXQB M0J>AV#_G+1]B-V1X*$H4?G9IB`;SB4R@S9:BM+IM#.1-\CMPKP9:'0%7[E2K MKYN=`.=U>#$>.W'*P^K./T&[ZG'4N"I[W](;/B6VK?BJ^UJ[N@MV+[[*GM74 M=^!['851V?-VFMQ7MR.O9;=F^VDK>#M8AN/L@K`C?.II4\V"-NNO*X#*IF;I MI?<'=E-@,=$C-['_-(6'LD@@"C/')-J!>R+L)QI&,4V6^40!F5B9BEB<^(DD ML\C'%TV9V-_:44AIR)'M&\*O3<3O0G'JX:^CEU;0WU1S[U)UZG.(,QKU[:^J M:Y-@./I(+CK]Z:H#DIDG_$1"TG[5I&&__=[L-HSEUV"WP?Y?@]T&F]G*[IHD MG9NZV+FA1_BQ19UT4^E`G3+]/=COL._!T3?QW]9A M^1E96U[%5=Y29H^<3;TDL:MIIS4X]7KE:*3O@&X;O.P,I_/LU;2=CXM2CF-- M4SYBH!V0MQ!(M2/L$83%;R'0'>3),?7P##*7S;H9;A6^BJ;\*H9KZ^7C2=N@O28)SBRW<82GW?J? MEC\SXH,+RA?"QOCQENXT/-#U?KF`I-0G>K7?]:OR*FQ*^M# MM+]-'P/J70:1N]'LJM_DJ09+MLG/"6^D6V8[AM[QL8JK/L)L"*"?HG` M:4V@,X+?G`BN0I^\_$B6RASD;P.MI79:5V!F"!#`0HX$2L;3Q5*FS/9?^,69 M;=0DMUHT_6<4I&'BQLM+&I!8G>-U)#.L4&GDQ&^=@7%/HUA=H?=@'O"R< M,"^F"YP58(+&I73P)[?@GX`"GRL>`,.G`+,W54#?!,F)3Y\TEBP#\OTW_TFC MY.3AXM>'WOC+U>?K8RT@D^1$^W)U?='[^\75Y[\_'&O&H>F<:+S1U?7YQ35< MTA?0Z/SJ_O;+^%_'VB,B.-%^&M]]OKKN?;FXS%MD5^X$';@D^'TSA?_^]N*? MY*8K?A#:!,0H85LQH6$`.CG1+F^N'WJ7XY^NOL#%!SJ'R?.:/&MWT=P-L[OW M5_]W`;`Y!'[AETR2QRCP"PC744)6,"0/US= M7"/`(T0H"9`_QN^!8ODM^/TQ/LI_K:K[=96KN0&=AAFKWU*6T,ER@]I?0>D% MMX?92L$Y/]?SA$,3,[F;^A3W;('Y^KAHR7]C44!]_M'MB9NQ4R?*?-7*8]$A)J"UQCC0$2#;D, ML8_E#.V9)K,:S9\/[P^UJ7@G/5AB<[)`:5RQTH*2+V(*9BWPH$)IRQAMCQ$WIQRM\;8UH2:9?03,/0KJ(R?&@,4XH7$+B- M:H.`$H\=0XKWO5\/M3$7"]`%RP,DS4@-S[9NDCO&C[0P2@"?%Z1^PT`#W2`* M(4-9N$D4)?`L*"93X!MK""RF7/8)Q$)K M_-E*A$,QPHV^?E+\!B[`S0X5/0!`$,7S@A/+@+,&IU;H!%P.M*$Q@..5^9*" MH`\"&"_N$SB0:N]+R%W_"=(+HA&ARDCH*Y^BW$7$P!W51ZGLK>G*J>9*`HM: MO0?8/%:_CM:UH_47]''U;N=FG(9>%FYXV3O=^?Q6[3'QYK?&TD=&?>KB#KJJ M%5#&GP1%2?0.Q!P@=I9AGP;2FKO;"`S?*A?V!S%&)$(3/PH"-X81C&G&E/,A M63%5BW$.$(96T>NC&_"0A\T(2322%\RKL0AX![%O MF/-CZ/&>7(I'^6A^&F>@ZM*(KP,WCM5\%PM'D13OTD,7'1#\VHOJ<,\XY<0=; MT>.RBBK7!G=',K1L%F#24:92N*41_BI?/6[WQ5FYWPG1F)@Q25E&3SZJ.).U M3@FE^*[1$WYU@^N#EJ;9KUVX6\D09)_JYJ.Z[$BY\>&G-I_!8()E+WH.@?C* MG2YK84(0B!3+RY]?ZRU68[\>*P2T<".26/#8H?;+C$)>)4-\A/;@&44P5`VF MH)U/F0>6E\;94'5]L'2TX#S2JB9&$`#50@7*`N)BRI8E;+OHO4J,S7A0\@@^ M&6AF,OZ6^;LBWY1Z>$6_[#MVB.>J7J!,:#5M2LE7G*V"<%`K^@?`-"!%5EPW MS7O,B+*)$J#DBX<:_]@6/R#M:RRT?TGM<]24`=G$-`_5LFH M"#[+XQ0'%(,6;)*%)M!.CDRS&3ZK38#GQ9PFFE3CRZSH?:@5H<:#Y%"Q%(=A M"43+@-LO:AQ9&%+&%$%\R;DN7)9H2P(A5B8A]_`B&;RBEY_!7[/>+-#@ MPB\6A#$,RK:RO4'300$F9.(8A\';935K9*:=),T2;EO0_%%65<*N:1D M!2*^!,*9Z:R4?E=%!"\G:N8"MRRLR#JDGD)"P-H#9_&(KJR:T3*(Y'AZS&M? MJZ>\3[0Z(0GVT&PQFM\=1HMEZX4ECRT)IN3"_B\,LB+'5$VU7HX;>6^`P>5 M%X!E49@U^$"KC?9L/@:S%%NU-'>>Y4MB9(@_&R@5TV]1-I!F;&[$,Y;.7A%:PEE9&)U$01,]\IH3L%=<%>'0_)\DQ5D-9ZF)IJRH;P8W@.!FA@\!R6XRY M+I_UR0NDS^P$0M$`'HQ%6!UYO&I7%Y"1^(EZE9)H"+,T@48\NHZI1W+_]9@N ML:2(68+"O`)SE_@.$$%)\(I@7C$2W*/)Q3&(FRQK.08C%=A6RXNOH5A MJ5@6]Z(8W?'U]\NKQ=<]_2R=R9>Q>0$FB2$(0&.8 M1:N5/:SV@*[=6I@:049!`FX%A[A+@)-;L2_53?.8<1HW9D2XY?%@A2;/S4(( M;6"X\RD&R3S"X,_#PPET?+D_\ZB6S2C_V$16CX:)1P30?/LE@,.(-<58)XWK ML1(W[-I4\^Y=WALYO=($4L30:()SEZ<$/&#EL3MNG:&XU,32!:[.%B-?6E8J MW%YFV'Q=(6LI!J_P#9PFC&DLR1$70MP817K&6+VE]7&P#N(VC,,+`352%OQ87=AID5__/WI4PMVTDZ[\R+^M4 MV17()GB*=N(J2J)L.;*D4'0<[];6%@@,2<0@P.#0X5__>@8G@0$/B0=`MFNW M0A$$,/--]]<]/3W39NIM9X`X.PN)Q6HJ/DN>=VY/0#UX$=W.[1=^Y:C:EI)Y M9V'*9W:HP)P,=#-@TI>=VU/2MZ:Z2HXKC5=OR5FTC,"(^Q:TUZ=XEM,#(YO6 M-I8=II"+Q+(",Q;ARV??%45'Y'=QED(RZN%0T_&BM1G>R^Z$VB,F53Q'V"%] MQ?F>N14:H=*H[_([X2IC'R87'"V8N-A@5*CC^RX9*Q`OI(1I+/[LBG5LRA/J M"65YS.P)?'U@D(8Z[E*B]WP*Q!VC,'[IKVP*E,D.D[5%_9BS9LVBFZR'T*DI M#SZF9E.\"3IWX7@/N(,4!':CX(E?Z6:YK#8IF4 MRVAY*`#<9_]$F"7$-8MCVA4,W/"+K5/'*F8P+R:+-]>MF?6] M9!;CC`(SSSF*%J1;I\79WV$7`53/]Q7#J3V/Z?D)0ZEHHFF9<8@<&AJT*QF` MT*!1JLL2C5S7U@>>&\2HTF(H'MO,$GZ4V!6]+3U=R@I?ONZ//-W/L87/?@)4 M8J:3]".=J7^-I7K!H(O%D&M^(@Z9`=M/VF)!2-]=];N=EK&A;CONDG*5O#OQ MW,A`R`TI?2.S#$)$NHK-\\$L7QST+'E-V=3*=6E.>DQX9]"/R+W6'='",EMG M8:W_9OR?45?+CJ]SJG M_=LUQ;63V`<.Y1;AWW40+%BNY%,ZE9^V&&:M<@-U-&5'.3!*!62L2782%\8B M.)F`#7<3<0H>^.'!IAQNZH\M)].R;(L4FZ9FGNQ[1B0CRP+C#!SCQ\_$1B<9 MC%/"G0[^(I@HRT0T=;;CX&L4CA.S+>>W<`V7K]IF4^PB.U"3I7"R8#&G(NYZ MT/-[MO+THE&3&LWZ3)PH>A:[V&K7F'\76\/5(_"IBB&Y+">L90AL[C[>&(K) MCN-G&\EY7&?='/D$E9JAK)(@@TS3C:ZGDBY2*EKOKZ^?5HLVG>R56H84[;@;(X"*"H! MINR*`RY6]LJ]KKGCX#NY4ODY^#J)YPQ\+H?/!/CL>;*:^2+G_MR1];OKVCG[ M.H/+VHRT,/\F:/]=\ON!Y8*%$?3LIG-V=G'UX>CDNM^__OR65**&!Y-QHV!DN/T*&#/76LT,U_,5Z3;G M'7L"QN&*P>'V'!7@(,1@*;LYTX,!.(\CV_),[0ADQ++?DG]U^;]W"SSN`.)\ M/R49)6I5?U[*@2]PV'`KN+\Z,]GH]T.7F:C,!P.S(EE!QGNZ.S\>B M4"(>]V>.&FYXP%[D+P852ZP%Y9F?W8]VEV;D9SLPV+`/GGFWJ+.DYY^5^ MYN@#_\5"(2D*5:('L%\$@R9TRR94JLK'._&+4+Z1]U`NUBT7R'M+#5M;:E5% M$P=DO<).&S:ZJ+-R2DJA=*H0TXN.!QA;`]T0S1X*/'5X0MI>&55PO6STK&R^ M_<'O&0;Z.0@6BGR*8=!;]?:.@A;KT:']SQ=&MBZ&I"%;(UOOG*WE&K)U$?5F MN^L[SQH8T;)/"1''@""&3#`@N'.+),M-J=H6;;TLLE%""4?F0[E`YGL>\U6D MYK'8'T?F*ZR7C->2X M@%4(MCW,N`Y"L:,@;CGA0,E`*!`*Y`N4C/U=+*GC8LD2LG)%79%\\II4O!C! M;/6!/5LK$I3O\YCFC7S".+4;<[;BY M7UMDQ+2Y+ZR)MF9WDH:V!FT-VIIGG:]0$1_+AK:FR+-I_R(KJL:O&P6OAY=L M]HK`+U\.[RR9HS>+)BOM:SK4KX_.2P'K#V0"#1D[A)JLFG->(;SH$;Q,2S2T M?G7*UC&?[;ZH2M7&,G4H@X?-Z%(\='$ARE4*2[X/'AM5I3Q7=/M/Q?!H_&.G M_*5Z9_5BS3(4?+&X?F6R'75R1,X[%SWR9^?R2Y=\[G9NO_2ZK(;EW/*\N<-? M3,U-M7MCRCNG3B^%ADUXI7)>OA+$F]D+C_**EJS6.ZMRJ?"RK8(*EN$/#%T9 MZ(;NZG#?2U5QQEQ?75OG);_]+UB)7,]TLW7&@5>H?L?H-OX1F2J/P3?``1:K M'2MZV:M4>Y3IU+8>>(=8?Z`S405Y5;'M1UZ8DY>Y=W(*?\\ED8)*T:YD*"YV MZE<@G?KUSGU12N/MARX#:4L5+DZ)74X5^+B>._0%A,N;\))C^?!G/N]:PY(*+N.S]XL9-U/*061&<5=)!X M=T<3W2BN*1Q+I-ZGU&E2=#LG7L%#Q7/6`)<'&GD'61E9>4\9!-UA=(?WF%H0 M'23>8M($NL/H#A\8[RP5=U_K]LQ5AZ'`ZE6$9/WS,+DH1\G\'+BW:V*TC2C: MHB857HD6]7S6ILOU50#90SCV5Q#6P:;KKJ]>KV^FOOI1M;V02>MKR#3>]MS; M&>FG!/.-[(`]R^+"I^QO^EB-`W=\U& MXV]WF?-1G)'*!`*G'.B9"`4"`7R!4K&NJ%81XQJ$Y7%<(QDC M&2,9%YB,<4Z&7C02-Q(W$O@/'#S=H$'=*C4">6_GO"=79:G5D#'^43X)1^9# MN4#F0^8KCX2O(_*+^>^[5IS;L66[1RZU)V)U(61@V;9UKYLCK#:V>PMRF%2# MQG2[QO2X)=7$\1.,^V($%'N-Q(7$A:9YK1*.+AO*!3+?TYFO=2Q56[C7I(02 MCLR'Q-JN@YQQM:]"=_PGR@#ZX[. M-IQ#313^E$^>24FM(I%J19:)8FKDC*IT,J`VJ^H1ER+.-0PX++EL'0W*JJK6R8\S[VGU"03Q?Y.77BV[>JJ M/E58DQ4WT8S$_9KBTM<)R8\^]7E#XG$@$ZHXGDU]V"?*@S[1?]`D2M$S/;@1 MX+8&#K7O./ZZ.?5]8G^]T]Y$,.<(!W@SN$+S'S/#Q04UVA'=?\L5+V%,8W*%!U?`` MG!AVN./4F@"VCSYDQU6Y]0Y&&X3Q;T\;^2B!/'INV#AO,O5[FQ4'T8#Y(L*@ M!*RF-GQOCF;ZF>66J..OB3]ZB98`OAI`;UA3$-3!8[(#9*`X<8)[^##+5ZD! M=5QH`8`\X8-%E#M%-X)!Y;]0=5OU)H[+4N`=*3U^IFIX&FLZ?9@"CO!R57'& M9&A8]PY7064ZM2WH'PR$\4ALW?E^I&B,C;)-TG2'GT9$;/BQ(R6:DA`U]DS/ MC+_(PA0(8W[^VXPEC!GZUS>>F/J].Z=F8TE:Y]\N^;S_?#F_&M M]F%LG9Q?VL.6K7:FS>M/W?[H^NYC\]O=J>-^/O_EO/7/I[_NZ@WU^N/PEU]: M?_SRS0'5/KF^>&B9__S3_7;3&M+'QNC-_0_S\?:/H4R_/_;?5/I?+^WF1>_> M]88_VG5M`F1U_LGZ[;_D]+9W=/3>Q_+7$#&^CM:G]N2,#MP(*J("_/!'CPY_ M^TFM_^\<3+3\23$9/_>M6@4(FWW\Z?V:C.,6K5OPQ=>@?0/+T.*W7UENQK8T MR!&Y_7C=ZQ_UN[W/Y.2ZU[O^>G'UX5;LC,P7U1T[$PLV+V[4F>"2EE5ZMH2; M6*MEDN?H0&VAV7&:ZY4`K]Y!M&5W."\+W+NGS,I]S,;UI.LT&R(.G;3.3L#S3@ZN>[W MKS^_)=7IPUX%"9;#IO9$:,J,C&HQ=0BAJ:XVMZR*``.>/>OV(KP&A@)F"5`C MCF7H6D:LB$BR5DZ569PILS35JN#>47N!^&]XF!E9YKPWHM#L^&\D^F!:][8R M#?KG__&D`,0,3GSP.I<7'Z[>$F;:WI%E&$@H*N51M6?@A22$)+1U$@H],I%\ MD*XG+]G"K>KX MI9[K:,"<3;6IIKMD"$\A"ADHYG<6\=,9-;$@%@L:P<_$_&!04P/N2(;RIC:T MBTP-SR'5UXW:SSE14A:L-;,QT/"?[I"1I]@*M,(/O/UNV50AIWY;/X27R#G( M;>Y#8,8I>OE$<5GDB07BHODH<[9$H:T"YB'7]FMI=XW$GN6!+0(C//5I@X`L M1&3)A=2-@E)K2?6F>!6UJ-[!4L:D/.J%:23(-8?!-;&TU!I2LU%'UBGE[&/= MQ[;M?N91^&%#QW2?C<6NBY^6Q&BL"1RT%NBC(NT@[2#M%!6SPH?(5PQDKRML MO5@E-CS`B?2N]'N#BHDLY5=]T*`@9QS`)QSW);D6A,YIY2>^\;"RV4'%YU()/3U`U,*0L=H M3`$P0S\2:0=I!VFG/*[D]O*DG[9S#P/%SPD4R]77E2T$BE=)1BYRT'AE>6(>%GK]M*5#*^8Q["-`]&SNQC=\BXSWNCUCS50,9#QD/& M2S%>3:H?EVN_QSXS7J$#Y@=U-@DZV4]!#4T.FIS]C*+ML]5!/QM)K]#0(>DA MZ171U=[=@D)](PL*3SH:L[928<.MKCOT+5H M(:?IYZ*ZXM"OK4I!LAU-*45,H0) M-U-KJE&-%\&YM^SO,%>;)3U5F>HPV?-/QPZNDZ0]>LB-AE7#UMW8[`7A?16=H;"-O0 M(I$9D1D0IQ^O+DX[E^2\VP7/X%OGY+([=R:#W+,*]SA4!3G6R(6I00OM1U`Y M7M"-UZD[A0;9H"<.>2DH7!@.4[7R+OIA])W\[E4J:[M2YU8&/K1\QX$?6CWK M"GPPK`'X%1=G\&I[:ME^=;B7B3?]_N'B-/D2B2B@>]%O4Z@RK;0MPXC+T_&7 MFF1DW5';9)W,2V)W,OU5(S040)Y76`RJW\%$#?B;.HS&56MDZKS9CC5T[YD_ MHT2G<(>/FNB:9E!^T:7JV+0,:R0VJ"C3R\MT/$#WNCLF3%1\EU`%83PE0XG0Z_! M#H>HG;-.^#VX`:P.(_Q/\WO`94-7XV65Z$E#"C"!2"L)209/@9IJ7+LRNIM\ M-ZU[T(%1HK)FF@=&"@R&YBLFV&=6FC&L#0D0_ MU!I5J5&MA&K;;#3DRKM:JPF^:)/[#!+'WO=M>(O!`+@9Y0DPYU=P^=BD)Y%Y M.NV2D^Y5]_RB_P3'\I"IMPML:CV"O@LGO/&\GW.8!=/,1Y@3L"*Z$S"^C`19 M&55=I7RR#RJ@NT::3<"V!A60@>(,;S(].=%Y4U9(EC**\CT$GUAU M.X4"Y0WEM_!RM$']6=UFI3E&K'&)MD#3@VH>[#VSS0D8B`=0V+OB5POM0$=5 M;0]>Y["ZQ"RN,?NT0:#RLW6A0W[SYT2)8LZ/0;5I0"`1]$C0)*$@&3K[$0U' M)C42W-&PHG;3)%H"L)2H/C9X8ZS]Q!E3ZA9@0@ZG'<2:'4N2J++4:<,?B.,32C/Y4F8/?".7IC@=5!&15B9 M5L#';>#CT^O/-[WNQ^[5[<6?79$>75[?BD*_2,RK^,03($M>KIM5,TI**`&) M!A?4I'[!6N5!XCP!RN\7KDV7)X_\RK%-?;YT]`?@=-,=.X25.M($BIZCVTD% M%E:Y73S(6.8VNV!X8,G`J^<[K`Y0F?%9M:CD4S-^C"X&@BT42BB2P%T]SJ#^*WHGE$\UA40'$&66KZ1_.(YK$D M3(/FF=&=IZ?X(:6#2W;ZL"@94/+AOR"_(+\@OQ2"H%"?D%^07Y!?D%^07Y! M?D%^V35FZXC\+9_6MIZHWQ..DL#PX!P!6O+3N653Z$,>IH2HGFWS>BTNJY]F M^*47%(T=>PP.SUUWJ.N?0DD4%8?88NF=C)S;86T3N M9:,J52MEKGF]>\4MV'X7I#FD.:2Y6>3:+:DA'Z]+3P^6Z0IP\!PR'C(>,MXR MFY8K5:E>%1V[B82'KMU>:2L2W0$374N&":QPX_138#M8IBM2"'JUY%/<7;V, M0![84AFN(>(:8@(<7$-$?D%^07Y!?BD.9L@OR"_(+\@OQ="T`U,CY!?D%^27 M706X"I5C6<<82%ES(Y>6D,(K[\96E@`BHEG>P*"+ MEY:VB%LA#MM=";`<\[K5E?-Z5:HUVV5>.=^]QI9IY7SW:"&_(;]MC=]JC9I4 ME4M4S@#Y#?D-^0WY;4E^JS;!?SLN42T%Y#?D-^0WY+=EM^RUVE*K+JH8C?Q6 MC`HR_D4%A(=?A[\&]AOV\=__:36 M_W<.6,B?%+-:D>6^5:M\\OC'G]Z+@KK9L=M617:2AG?%L?__]JZVMVT<"?\5 M8M$"/W@P?4W_^_4]>?CGY?WU"E0MS/DFL-CQ[+KZIM\9S98HI`1U)$_K MCUF:1D?<=?D3@)V(".30EC]FQ`LF3%"?"TFH-R1#YO&)XX4'5)73N*FXH0&5 MCAU>ZKB!SX9DR@21RGSTG'W@AX4-1ESH]OVQ8$Q?+YWG=*\F((&Q),P;0CM@ M18QTK191MJ3O@!_PIV!RRFP?K-J=F2NNQ@TN`8/F#F(SUYW2X1#D$(G:U(LT#,561= M],#%K3R/P2[4?[$_JFKQ>9/7AVU\&=5DXD)B1V)O"-,4)_85($"*WS;%FZ9_ MD.)K0F%(\4CQ#6&:AWB:`^F].J%C!-]H^D)Z1WIO"-,@O=>2WC%ZKQ]]+5W1 M+?AA3[G;)JYK<`?V@7LHI`%'.2^)VOK#9$[[=E_I'M?@RIFYUC]Z=6ZW.:6_%Y&EI M_JEA%8]J]@D?$@P23.T)YOC$:O6ZIOWPD&*08I!BD&)>7U[JY+QU?MJ@\BM( M,4@Q2#%-HIA3B&+.CQM4`:79%%-]Y@CN>;0F5Q_0J.M+UEC3N^XK,`TC;N07 MY)<:"`;Y!?D%^07Y!?D%^:41@$)^07Y!?D%^P;RUZ*X#RUO[DI1--'_-5$J> M&CHG=$[K"P:=$SHGY!?D%^07Y)=&``KY!?D%^07Y!?D%^07Y!?EEUS+;QN1= MN76--MBTO/"&#P<^TV?:K&;YK\^J0I*9/\E"X:0GIH@%?M"?3-!'%E9'DGG* M((0'OO2A!<=[7(WHK=R*CCFF,@AB.[5LC/[]0HEI[;9 M[)VTCBSC5G1U=>I%*Q@V&H-(>DAZ=13=7I!>QSIO]2SC-\)(>DAZ#9,:DAZ2 M'D9ZC<4@DAZ27AU%MQ>DAY%>K3"XC9GLXFFH^(UU$3`>V&H;+D/B,N2<<'`9 M$OD%^07Y!?FE/C)#?D%^07Y!?JF'I1V8&2&_(+\@O^QJX.M67%PI#>D-Z0WI#>D-Z0WI#>D-Z0WI#>D-Z2W M1M);P],>=V^PI6XK$YZD@!U]'OX:B`_JYZ([W*']GXD'- M%MXSFWNVXSK4=[CWQ9&VRV4@V$74[*?XQAO/YA/6I\_)-7WV[']6LZP$VO#A MCWLV^L>&NJO:_5?@=JOS>J M/3KP/1K<@+O#Y/%WW&=I*^YTR'MR\C-"AWRJILK],2-3P7\Z$M`N"1^1KY:)@])Q,J,^$0UW"1B-F M^ZH)]9R1XU$P+>IF#57Z<,N$>;XDU-<7#^&`ZH[N*/2M3?KSC["#2>""B?YD MBZXR>J)@<%(-CT<->(_I@;6-Q(-8RL'2%1=3+FABHB^/=301$I\^$W4>-#B= MNHZM6%?)7RGS-RX8]8@,!M(9.E0X<)7C95I2G*C1!#\L\J34W3EMG[Q5.`@! M)*0/_;+(Q'%=`$7<\'?NI63Q[DWOK'5F67_3]])GW9NHI_H)Y^W>VPB8*00] MVTS*MJGJQU:MD MU#U^J_$=F^=B&]H^AZJ&B`H&`OTL`(;+G\"<&&'_"\#4(DD/V8@)H9!/G].V M3R<\4!8FF`Q<;1*Z#^HVU3FU:J;UDAUC:[%#8(*.3QQEB#YQG1_,G<$]H>'. M("QQ73+(X@0TY3I_L:%1M/VD`R^=,J`FRQPV7#%@\(^`\T,RXN*)"O@7F(', M&!5228:/1I+Y9!3XX*5C.&3;"O%A[I\22?NA/2\I\Z,7104'`A(_>!X" M9$QE1H%V1'OP-`]:B9`'BM0KGHHMIP"69T<1,.CD3;=]THUM)=,86,&;\_.6 M!>8$.G<`&%K@^H0>ZARP4]8%")H"S8*,W5FNN`(?HJB_0K1&!AQI-)1?VNRF MC@CA%PI+DP%(#/X]CEU,V*\$J.I*`XMT<\@=Z3V7WI5@,Y(&AM M3,&RE.$/&/,2;AJ%W)A&6>`-'>D+9Z`7YED4;,=XB.E.X^;LJ-/[*%5##(22 MZYS72;!ML`"0&[0`U@3=\GXR"9=D MFU%F/8:.Y^`.8;=^A`K\EWBSN1B#@O&K,%$A1?E`_1/P!.]4+-7UKM5*8HHO MS&:3`1.DJP/7CF4JZK]24?IEDMC,=:=TJ(IT10*Q(LFJ,W)*[>R9A;=URS*] MKZ_U"IUW(.?^7/W&65-;3X1:^VOI)D\3HG2620A:I M>V+\MD.\_5GEQ9&G1KXFW>8\8T^$<;@P.-R1HP$T:;%:C'F M>/VV0'?,-P1&IKUW_8H+YO,?G5+6>X8LLT M?JU01Z/9!@!JI?V"!7A*UG_GJ'5B+K-?BS>\;1'GOO`F>IO=(0V]#7H;]#;H M;?;2VU0_>_\JY;R\G._AC,_F/GX/A;&QV2Z;`FBF*%[AQI:GY*!;:J!;0GPC M[R$ND/>0]QJ$;USGPG6NQ5__BC]#S^GNR\?I39DYP>G&&DTW-E-^.%]7EP#A M77Z$4.,082LS=@<^4V\L)H;^II9\B?X&_0WZFYJ8$?J;>OJ;IBYP'5J58*RM M_%JIE1@.)!6$TP)$0MO_5)=\[=?,H=4CF'G?K(GU#2AS7Q@3_?=2%Z[/R&C*?B0FT/@R+8X)K2S%S=4UU=.RR_^U)1&VZ%-_['L6X"[@[LJ.AR MFG^BLM-SY1*F=*;+[H=5_*EML,K M>!X,EGFVP^2VM_&8WWPE@NA'4JY9F%U."080'5B]C\=\/SI'Y#VY^G9[>]._ MA<$NX_\3:%(4N8M:R<`KMD9VM.>%RZADA`^@\V$!=VV0JL0['XT<>ZZ. M?MR2+K^NOD]V7K;[4$7]NFUR#\:BMO)XGC(O++MN!]JD4Q6_D[:D\PPTY_EC M29BGV$"5(%TLQIQL\+!0L3[;UIN.U5(;/NAJ]:>MG@6M+%:?SY]U;Q:**L'0 M5^T`%ATDN"AG$DQ`Q)[:2"+V"*HJ.@M9/(035=I*JFZ#^K/J4E>'Y?M!\PI. M':;L"SVXY`W"_9-W5+<^65^ M,^Q-=4ZSVE>@G-++V7[4XU5XO]+6M[BM7A&45SN34J)`5DJDX/1"N9;5;9WG M+,AO()E*]F8\@`F$':6*H].KF=/+V3,5G1XZO9H+IA'.[[BG-CY$Y]=(Y[?+ MMSY#$F"97A'=XJ);[#;/+1Y:_GIIB>J+6]OG4.(AB.[5LC-[X"K=K]I1=4M" MJ\3Y&HE_3^#7Y/=10Y8!NN.*\-?G/G4-T&NJ+][#I+[RLO=6.^-#F]]=2V`Y M[\`5RJQWHA:*&_4&;*3[/3'9S;+*D@2?]9)V+N+6YY)^/+6)8KB7_;TC?VP[ MU6<#+[A,M;M,V(G[T.GJ9)V[*QC`_67_YML=N;S[0OZ``_?]RYN[_G\V7,VO M;^)SU6)?@&7*:!R/7`42^(2)W"BDGD+>;7I+DI,RGY'BCP5C^2E)\'\.?]F1 MP'469`!LD,["5`E/:N=VM=N\I"Z3;?(URG-*1R;]E^?+ MI`/ZD:>]MSK]*7IT!K>Z*T6RHM`ZU[#.;^&.'=FT5S!-T#J#CI,KI24QPQ2T M=6ST(1A(GX(/IZX[:V7T#$>5?2FCBK(;PS#D[*C3^RCCC5142J/*1U,;J3A@ M)SSPE6)>TA'CUN[9%`)4QU9-_@9:HVW2+]:R#`9_@CFE$[$Y!'W"X8$D4^XZ MOF-3MT48!`]\XMAA$C6'7@B(@N4/:3+\`%A?^-0!">AL2K@8O$#4>V*'D-H@ MK7$^7EH=[UQ$?/#IP_-`N!?Z]_\!4$L#!!0````(`!-K$S\Q-8M"/PD``"1E M```5`!P`8W1L:"TR,#$Q,#8S,%]C86PN>&UL550)``-6G$Y.5IQ.3G5X"P`! M!"4.```$.0$``.U=77/B.!9]WZKY#][,RVZE:$/2"9-4TE4$0B:]$&@(T\E. M34TYYAJT,1*1Q%=^_4C&I&UL@S$6)MGIER1&Z%R?^K!WE"X7YE\0W;(2?GPP&VG1@8W9YX`&;/E'[$Z$]_2B?/]87#0_F+<^G M\H*O_>38:5TX.SO3G4_?FC(4UE!T6]`?ZK6VV8>!D4.8<0.;$H"A<^9_!ESIRF75!B0PLLS3']G,^&<'G` MT&!H2XN<:WT*UN6!R>U^3G*8/SW.RSY^EE?^%(HQ8J.NY/[*L.6=M/L`_$"3 M'7=:M[Y[,&UCC!@'LR\EU&43/;('?:%ONE;>8@$-;2Y^'P!.:.AR)\+6M.TL M&ZQ?MO:L(0GXDPY8"[T%T8*;M++MR<"P%I$],' M8TN_)G2!8AM/8%\>C%BN9QC#/TN,`6?E$:6.+%ZZ7$L60O4?\]&M1@Q+E\_>^]`'XV7)Z/TN"Y M3!AGM_AZ*N9IUK"ND"U:]5@#=V3(%(%0!B>"N9SR68,V*>E18\"4#):$INA? MM#V7+S')KM+'2THGC8--"D,#=:^G0\`,Q(AN\#[0N?DJ%%V)YP_H>ZG;:KY< M<3XOB[/%;*IN&O4$B.RH#N-X282(.60+ER=#L429-47"PX6"23^=3'XW(D5!O1=I(JER!3E)11`/ M@.*497^"6!C;*XA.;5&TK.@=P>;N_-^#MM=*K&(I2Z MB\^4Y+]!E.U6UF"!H*/K]*ML"ST,)N.L/5JNI]T%BTM[`*'6[2)IJV$T#=6]QV1@B;MA*$O,(J.SSAWAB1%(5E8(G73:- M!B,G>70"MZQ7H-`'S-`8YN>_-<+8'?"&=6],%:V@-C(AZS5O3/DV)38B3T^D M:@NX@3!TKPV*Y;Z'QY@*6,A$2C*6&*CO8@J*PUY4$K]U%E_"W=WD-6LQLQYG M<4F)6`:LRO_?V5V%M5JQ=W:A+U7!?-E!;RUJHB&+&)@4*>8R-F/]EB:Q>4Q M,C-P*LA__U[_[?B/WQ_,X6CZB$_.NJ_%<>]QACN5T>2F2,^*_SGZ7^=^QNSB MV'S-VU_YH5[[I53#UK38:SR8'#U\?QY\KQ=1GD#_SD"UFDF;,QU7H6,>Z9V3 MXWKSY+N)KVMG_/GD[!G=?OUV5_[>_R\@^MW&ZY1?5)*V,L8,Q9F%=!37`,8&2[>13+.X.\I%R%]V;%C\6S MTHG)`[,O$3UXYUX%?"G#ZJ+B/;Z+$&>+RFZV.<:Y(YCX#5(X#ZU!W&)05`D5 ME.#YD9M=L-"=QT M;J$RGW2[SS@P;"R+CYJH(XJ$ST]PH,!4+AZ6(3)?V&_.?X"EJ&+,I"(L)HBJ M,%16^",\$G:Y4P/![JB;MQ-C#U@=84(1GRTL$]FQOY?YMED=>)]TY6,AC,L% MCY(,8I?F9[U'FX%4H$7K#_GBY M0_G3?9S0-3O-;!>*!?#V-K8D M4"U(9IHO9O(BW3(VDENH#5;0@J$Q^V!;36;P1&&;ZL?PMX8W@2)9Z.//^54( MN1%^QCL=2;A:*EV(G9_O85FAHML/'12KRJQ#*YDNWO[W#J?57U!+`P04```` M"``3:Q,_Z&L:S8@1``#7)@$`%0`<`&-T;&@M,C`Q,3`V,S!?9&5F+GAM;%54 M"0`#5IQ.3E:<3DYU>`L``00E#@``!#D!``#M75MSV[82?C\S_0^J^W+.9!3) M3AS7F>3,R):5.K$MU9+&]TV#E'%ONK;L$5 M8)^A%2#L_^SO<\M:ON[U'AX>GNOL4:I#`BBVB0XH_Z#3[?ZWP__]]*\W7,DI M`5S%Z\Z(P,[`GG7VCSO[1Z\/^J\/7G;N;D\[!_W]??=+[!LF1%_O-0HZCPL3 MT;=[/F6/]\1\CLFL=]#OO^AM'MQSGWS]R#\(//_PPGEZ__CXN.?\=?LHA7$/ M,K'[O4^7%S?Z'"RT+D34TI#.%5#XFCH?7F!=LR!&&>SJ)#[!_]?=/-;E'W7W M#[HO]I\_4F-K(GO&L+9J_`(.>^X?]QS`.ITW!)O@&DP[SCN^MM9+\':/PL72 MY*8[G\T)F+[=TRUSWN5@]U^]Z'-EO_!/OC#74FQ"@SOI1#/Y*]_,`;#V.ESP MW?5YX&5U4UM!:@%]SGW=XX_T$B7T-@U!GI5?)AH!R)H#"^J:2^+_35^WFU][W7%V=`;@OZHIJE)RZ_`1X((FTH8$1?>$LL:HCH-EG8#@FM ML[@MPMMI"5-DM-@RYDAJNZ5,DM**RUDDJ#T/L6YS/A\@XPQ9T%J?HRDF"V?F MF=VV5"E/S4LC>E9+$V:TFPDIG\H>.B]@0*:8,CU=`TPUVV33&T^-W_"M#(BL M'OM*SWNF%_WZIF=*-A8O-(@*V^I^V]<"9%@[9R*(;M^#[E9S/H/C!/@[MQ2( M'6BZ"["X!R0GOH&ORFVVFFGF,XY_XN^\MO?E'A^D>L"TZ.839]CJ]O>]X/67%"T]$4;?:O<)SA5EL*MA0RP!IPY( MT&;6"#:F>.TA6X/QOC,E>)'%+Q9.!@(3`Y"W>XRPW*;\6L?(8FWMS'2>8MT! MS/R!87'D;W2`-`+QX!'*;3$!14]FBW5#["":ZI9`RXMU21"AK6>VPT-^[#V! M=X@N@0ZG$!A#CZ`DX)^H[(G/A+LARKRI/HAK@P%7)`/F=X=89WSI5^X.V;[8 M3-GD.(,#YKEC/]BXLGG$S5#9A"?I!I0"BP[NJ<7SU-ER6['?E(9J<.*3?^1/ M>]L@BH6:-<_/L?B`_SC[9L.59C(]=&"=:H2L(9K]H9FV%,+-IMC_8I4Y9G<# M\[?SC`@&^*"0J\[1BDG&9'T%+!D>"4CJ@8W?$D.PLJ>#J;3:^X/71,)@3/B"9G^ES4%)E4+:R_%(79\_!!J4AB M0L!2@\;9XY*1'6#]=FS-`7&MEN')5'W!%VFHO](1\YSRH@0%N:(\>V3X(*B@ M)M#S-$`__"%T!(05K$>QX,=:3TS-S0TRUEKR^8'!>EAZ9)$WI#0W:@@CX.?._,'6!=3NH#E#6^F\L MK'^=8Y-)I$/VVCJT<@5@V:4U%MZ\J)1@27_W\6LL$/+&?;T&B(LUJ7`L'(N% MB*3;'!/K%I#%"28$/_"IJ93\3HP::4GGC*-S2O,*)';B$`HB7W"XUG5LL]AY MHJUYLE7FC#!>4^U!;T8/)`%5/@8.2;X&)E][FFB$FU2=0^+UUC56E7).`H2% M"7FCYHR%RG@--O)]QDETTVZE#9AD9O13!@`%!+=.=%>-A!RDMILL@R0+@G]-'7U36U+^2,5P<""0/Z@NFP>8T?FHDUP M[\8C.!4JO/8R!6PDX^%*!1;%Q^+,)*+?$1'71Q08)0) M8B,@DC8,YW4UW$C#GU4XKX.Z@N\"47@%K/+W5'B7E-W*94!]_Y'5<7FP%Q-37P&*O`(PS MC2">??39X%DLPX49M+:%9;(`&`RY"]=M/]G%%TVMM91<>E1+S4%W]A8:K"2. MHB4BKYX\)93GDYTZ6S9#SHYEH.,XVT)ZP7TAOJTV56T8"6]I5_M'I!FL]H^H M_2-J_XC:/Y*>_&#C\9@X=AE.Q#D!Y&;.QFCY^9!$S35/F;*-7UE1%+`S(JC* MD4L'MC7'!'Y_HF5YCHIHK*>XNXQ_HJ")JN&.*#FGU*[.*YZVQM:G94'*'X@+ M<\/8MOB9608+>JKRA5]E*QT2P,P?/93-\U9),EG4MF$`RP1?L#2Y?$*^"G)) M4U=++%[8+XFL\JK,WJ^0>'E\DJ2J%?.O1)P\%QR5V8H:EBV93%+UM=,;<53R MJ^^`DGHR4>%#"HL'M"KWI')/*O>D/ MP!(ZE:3X,0+CJ2=6SKS%KZ`E$Y4`)L$L4"&4WQ%,Z83@J9S%?K_XQB<5`EB4 M3NN,E_Q$>#:#]+:H)VPU%%2MG:BL#0-("E1"RB>N`07,:'Z\S)#U'1,[F\X] M97)J7-(4UE'>DKE5!NM;4G$KSZ?`.;/$O3S!9%H&QH+!P0WB=R5(=%!&S77O M.3R1!0<`40=L:`2&JDWI9G4RE*Y M0U"=]U;N4_&E5,1]:NKDAYR$[0@D1)LY5&N[(R^*5H!2W#/P26'-L\!-*J;M[50YO56=^@^J$_$<@>;NK-H59)QJ%.L_Y0=.VY!3O[%)9XV0HMLT%#CS:!5?I*=!'QOAS M)FJP8AUX!JYL;NUX&JE-<33+<$\^`^J=(.WT5TXTXV9$-17\;"_]+%NX$1E0 M5)V/JO-1=3ZJSD?5^42RT)M!UYD&;Q/=`WY[>X$3@[,*:_(R?4Y8RI_Y\L^8 M]A=J;;LC@0+AEF/)P/C;]J*\6WP-&+GHT.3U7%SZ+6:_<%OO**]#+MLM1.FJ M[23"`EX3"W+Y3C8$2\(&3N\N7/%]+""_OE,J!#?KT!T+/@1%7$RE$Z!1,`3N M3V:0+K.T6OPADKJ$9Z^C>13K(?VRY<\;:0/]F0^KBFFO"7T1P MC?W%\HZ33@=(7UW352H@6GDU\`3R&U=%$=WNUM0V\7 M?V77"!:TY`?T$)TPR9O`*ZXFHH&VHC6'W!0C2(K9/_2SI;"=WOH.K$#U^_4 MTC/C+?D!79W-`T).N(DJW["VQ-VQNY7^F&-P!%HQQ?N[AK3.7_ZUYN? MN]W.GQ\O_WCQUY^?]*7]^!D='AO?CU:SSVMT-[0?WAV1XZ,/!W_?W:ZI>;32 MO_?-]]:SWL6O@PLT?3R:C3^QH/'3QZ^+CY='L(_!_$J#%Q MW>&+R\GA1QV=71Q;7P^/O\+S][]?G;XTAN8K[8R<_&]R^3"=S&^,=W-\,KH@ MTR.B#Y:OQN_/;F?CU6^O/J].J74Y>C8Z^O;^T^KEH3[^;?KLV='OSS[3!?Q^ M,CY_/$+?OIU]GAQ-P?IPUGOXCM8WOT_WP=?U;:__Z>/PP_=S^]W^_=W9:/;J M_8CV[_#@[5^=TYOK;O>'')^21J,2Q99>@F="\`H:P#A9)Z9Z)"W;9=5>:YUM MGNX>6M#+C&ZIP#R:^QE!I"%=T$)WFK!V+72GPE+\WJ2-.P0 MW,NZ/SY!68T;M?(VPM`^VR3T1!SW?PV6VMI)=?-B0DH"=B8Y;? M][ZK8==5=)Z(OL84D)3H0%$0RP]O_C90A9-2];752>D@!C)$I7L2/X62+ZR. MI[XC$65WIWBE;757!C@C-YN(FH;'F%KA-#Q.>]W'1V1KV1GFX+'0EB_YX:KX MA9SL!]]QM=),WM$G@$"^[2H81LNYW8DI*SA2PHLFK.F7`K?DP`,[#?;7[7Y&P M(F%%PHJ$JR%A7P'\$%+=Q-0F0"KA[M#8!G+=!5H3B)0SJ:)21:6*2A65*BJM M@DHGA)\[:ZTGIH;X&9-\?<"Y0Z0B8LVEO_FY^WQPQI195)):^CF:.P)IA8!%B2.8=YEMU5Q;F%;:K@I*=_X5AQE M/S771\NJTDD1LR)F15CEA#"J%4-93B4L6E MBDL5EU:;%5Y`]XIZ?BHUZV8L"`,L\*JL,"JG!8U?FLV+:$,69%6QE&)?Q;Z* M?17[5LJ^B$FWB)/CO(;T:V6Y:6.W[+GRF`:D-78`B+YW-(65"\13FQ`F:\3&#\W\##1RAHPALZ`\H(F2 M&YTW3,X?R8>\7V>BA)`:!X%UIN3$=,'T&USDR-0%M.2BNP35S,>\>N,BL M#)2^BR@$(NJ7VNRY0SP0_GO'BH[#SAS:/&?3V\#>3&V"F3]IQ`QTMO^#"1CHR'^J]%1PU7^A_8M)&ED?4( MFH`(`SPLMATM.P*&A_%QF9;MR#IE!LPP$39R!(6V9)860F(3D!0+ZER1'X%I M?D#X`=T`C6($#'XM\Y.=96%.$M\2P!/1V4"_7RJ>=J]!%A8'QHMM^LB1`,8& MX8."T^.-V*?8;@'9EA-W'`?R___ZO7S"23@@QBK>@%[I`6SZ`\RMP?OGVHO7V MXF=P-^Z`B];Y>3()S?!<_^N]'4'P-/?\Z-=G*61/]Z'W,@@?FA>MUJOF9N"S M9.3;)_R+S/COK\CH\ZNKJR;YZW9HY.8-1&#/FY]O!Y8S@W.[X?I1;/L.1A"Y M;R/RRT'@V+$;^`QT`>H(_*_&9E@#_ZIQ?M%X=?[R*9H\>Y?L'`"_A($'33@% MA/2W\6H!?WT6N?.%ARDBOYN%<)I/B1>&33R_Z<,'O/D8RQ7&?,Y\^Q#G!*E M*BO]P[OWR'>*YOL/B"=^X\YZ]JYC#+OZT-*[`/UD&8-^5QNC?[2U@3;LZ,"Z MT?6Q]4N3X'R769D69OEAA\Z&0O1CR=+6(YI.@`A=Q`TOO"C'];3T\>?&C5533PRBJO" MOC7?"1ZCHQ`N;'>B/RVP.8STIA'/8)B`F`R)R(G M9X"G`9O,4ZH56;B9%KG2#3=CW))H`C, M&`,!ZS%`R\J(&IV5RYJT6!RN2UP.D)I:P#!>C="NQ$C"L$VVF".X-1E/A?CD M*Q@Z,50%DTPAB@5NQI\!'\;*#SL67F;52\GRQ<6J"Q=!Y-9S1FUA'U5<\CS< MQ6NC2(@%G67H(@F9K,>IO:CM&,=8&![XT MA4<%_8Q(N;CY_:,#U[YW/3=V8824@Q4'SM=9X$U@&'7AU'7?ME+Y`1<*)451E_1G?%JAE^HOB:/ M[!`K+'E2DX_WV,8!AP3E$D21I_58)$[8@>0%MG^BHE7(W0)!HV]&A4-,GR^\ M8`4WP%/G9(UB5XY4MJ^RE"*Z$@N72.@B^`A#G#\%[J&/;/Y8L<@QLS4M;VR; M(.[)(O$5.1)&0R5;KBAT4*2)C`;..ESB[:8IEJ82QJ5EJ&C!XI(C1V@DR4NI M?Y197K+AM<')R`N;J-2N7X:(4GDJ)H5-IL5$)X,F--"9^:Z#!&<*X:&%=`KZ MY9!Q12IF;\45C*$4T)KUB_R@2PIY8>0EU\>F6HN4J(^J?.\$\[D;STFJI$_2 MC-#M'_I.37)0A$YRZBR=$FIIR^UM?WRK#\<6>#X,8@C.+UXH%A0&]F53S8H7 M+53N4#6`5Q*RDUK_Q!^FHX=VWJHK<^*)X##%W63YZ@5B;04,.)%ZI2-R@[\B M*97R-X7(5$AB=+552>2AD>JRSR&`GM*9C`01'GH&_J?ULM4ZQUXT\(CG_1.< MM\Y:+?)_$,WL$*=]+N-9$.*L9/37_3^Z480](B0U=!GCJN0)TJ_`CL'[I0_! MJ]994D.-!W2A`^?WZ,[[ZIS\MO52\5%2("![J:.Y^ULE5H"/I<"O5S`/<,B\ MJ>PCIUD89%B1.!;*XYN+LU>7K\\N:A!(9<9-GECL6S0'.UO!'M8F$QU.^OZZ#*&6"`0%E6Q''84.FMMW.QK@%/*&ZP,GF:!:7$I8EPDO%"RY0KJB MXRSG2^)`)A=UW)\CA#/H1^XC[.-B#C@(HF@(8V,ZMI]JBFIQD2`]2,I#'3WP ML(&RKL!PTG"`2P`IC[T+2L->%(Q[OT3M0Q/&MNO#B6Z'/DX`2.%>VZ%UR"L# M5JG68SD]#$(Y248JMN?8&9H6.<8-J&+MI:\XN#(@7M62.W2(14E$XY".PHA& M>OCF-GL@3HJ2B:A\R^02Y:_W*`&PO0S3^H2G%&<-?BD.+W8N3:RN[5--)N?E M-\4A3M^;XWA.1G9HA%:,%2*Y<(Q@:.'+5OW.%"IF!>6S#&2Q>5UVUUOP'%TE MNH'GV6$$%LBJ(W?8%ZKK:CE83W>3%.Y1E1K+-!(",=*V#H'Z)?(`H^2.`\74 M,`K@@2/EI/QP-*;292UW&ZKT"3B`W2=>)5GBM<8FTUU')X-/IA+WF_(3M9R' M9=*46GP%WUH>9&/GEI0E4&F4JJ4J10N?:*7)-R?;@UF>*T5#)OFQ2Z."0H4,K["0DB&Z!%2U9_+)X`+5FTZL0 MGW(I*C>\\D2)8G6=A#R56%RE.\`O6?2.RN08)6F&QM18X*<+7/37ZDW22^!* MKN7GIY"O:;HU1O])\DV-'C!&NJF-^VB`VGX?%1A>W(:;8>MD=@T0(Y&CMSJ- MO:?1$D0AFZNU)K`]&)GP$?I+6%.KN7T4DJ]T>^@I.F6HCX&I?]2'=ZHZAI1P M)!,TS%E2A2M7%!O3-;1Z+)LT`OFF3`H[]4"QQEBI'`J`NFZY!RS9[X&;792X MH7L=!E$T"H-I/2DK:?#22YE2R"FLOS8-RP(CT^CU<9W*`/U+MU27J>2P),W] M_5554/_K$\5_6/>VI1B=1ZJ#I"*KX4B@&J.EU-!*KA.+8W@-],\C;)^HKGHK MY5VF%+)PM5*3Q@I)R3,(#W>>TE[J3\Z&5@4M;L(((J+QDPY=="QX`6D@N\92 MQ\=,,DS9&0#;AOF*[R![W.#U=V3`-6BN&J(J'U M@(C"Q.@#/7(2IA&3250IY+>%MJOWJ%4B4FB.;O.PB\2."EIW;'S+[9G&+<4O MKE0Z#EF5*Q][BQ2Q:XB;E=0&)<"*;[V44$O1?-D-&`IHH5UCQS>Z"?K#CG&K M@^>;"]4+A:YS!GYL7>1EZY7:?:&$F-RK;/[NGTJ[Y".R0KSU`GF?'49U7E[W M41S3_\3^@,D>%=2'!)-1FR-]_XT;%:J;PJ+LRX*'BQ..4?2"$+H/?M+\S5F- M0]N/D)PA*_+:=GU\)+3A%(VIJ4R8![WL&RD';307.!J'7PN<)I#6726=%8AW ML%3;"@("D!9&WDVJV%DPT8JUV)TI\-)[!R9X"SN2)L7DX/E:5[TX!665PY*# M)H&II56YC&)0P\`/LB9KC0=9"<8ZXBJEEY)"DBC2H]QWP<:Z`[DI7J?P>;>[ MZO00E4GCN25"L4L`2?15,@YI+1C=NGZ`GSO;G+N:/\E"24H[;V$\"R;XV=\H M:6Q7CWDECWP%GAB)RRNZSK?UGF'JF\O$6/NLDT#VQ[Z%;O>*7YV6+KY9TU,N M?\0O.FO\:YW13AK"U_=%'J*2;:U2Z*!>?8@U$=M/8!$&CVZ4M435B3:59X=B MF+]6<0-S".-Z79M9!$J:@&1(*$C8PVI0J:++949:!@Y7(L[Y38^93:55VXY< M!\=]76\9UU/54H92YA6DA):BDW*DF\"ZT=!AV0#W>%H2]4\FEI?H*7F6@XW9 MF45$<0M'4((Q\!DK.,N8BCR.HG MO7]]@U/=M8^ZJ5WK8'AWVT:B:_0`;J9M#),^-!8P[L;66!MV<4H43:(3S"]4 M.VZ$I"8MU?P;RWWK8DN^[]C1K.<%WX],*7 M%9A\;<-(&4W'[*0LG<^`3D*M,^Y_)#W;WJK5+)Q\W(D;S\[(TR(<5.7J#A:& MG8;&D,&XUO'SA(KLTH,+:!Z+T"#@H;^K33KEOTR+/Y"N3?ZS7+OPQH$),76N MAVOI,.AQ@'[`/+U#JK_O5U7%Q\(EMUS[2%13VZ)OH8,X`.$&/@X7$E'$O\4_ M.P@)6"(L``>I-WB`O46D,''IR$*T52?'W'J))>!')#M/21U/9$XEV^I/(#^5 M:LN[<(&XY)*02QT.H0Q\N>V:TJ@I*BX]1+47)H\3Z9/U8#D50EHAM"/8A^]0U1;A8,-<2SR@K-66CC;/(0U'TBX.]>\$PUBT0CY!8F[>U<7U\ M+<&Q/0Q23?DL;FJ-V>9Y\74*EM+X6#Y#LO5B!XLZZB>:S<8=EWVIG(F">78* M7SKE7S^94OR2UIFA?46:0HLB2%[@3#_EBQ]QT9QO2SXOMDK'A4/HHQ#BEP.[ZP[@ZV0R)->)`4VD7(Z0,5%R"M+'0BB]?SR> MNJV?3AX#);4-B4H]M0L8CW@4BS'SKAU7ODV(=+#K(.L<>Z7D2/(>3KF^HS)R MZ!UKUH.(A_/4Y#"?C<42E[/NXYW!2GQ.)^IN8O,T;4:!13),M=>2F:?%4E;@ M8_KE;XT&^/W3[<=7__[]L[-8/GWQ7U]-?EP^/GQ9^7?=Y??KR_#J\K>+_]R- M5Y%W^>C\:'GOXY^:@W]H`W_Z=/E@?$87W\^?OLX_W5ZZK0#.AK8[&#CA:-7T M>_#.N6C>O7YU.WK]R?'UP57\]?755[?__L.P\_.DZ[VQ];#]K]'M]^EH9DVN M9T&[-PBGEZ&C+=X8[_7Q@_%X\^;+8R>*;WL_]2Z_O?_\^/-KQ[B9_O33Y8>? MOD1S]T?;Z#]=^M^^Z5]&EU.X>OW0_/[#7UD?IN?PZVK<;-F_C:YFQH_X??O- M&W?TX_.@Y7SXIAL_F^VY]MA\6'WX]==_@XYE-AKB;GZ*:\^$#G0?\8Y+,D\. ML$KUSI730PV%/A)_'?KHDN!6X`/T<9![271RQC&-M0R^WOVM.*X9L?>5X\Y3 MCA,N8?KZI^0,R*=$L6RRT$@_)?#`C%MA9R2G?JN\IK.:D'`=*O0-/*Z4;XSS M&MLUER-54#163!$U`KM^"BQ,AIV>/4-A9['HY2U>/&:6*]JJ]&:.EE2K)/E4 M8K0-ONU;T*QS8%927LU-'*XV$ M,<`0P-TZ"6H[%6@Y>7/*LCTY)6`O%91GCWB]"H=9O3W71Q_VD?+QBX"IS<OBW$"U3H;)82T MCP/AA&"Q9D$8CV$X[\+[6CHXT)%)?T6<0@@UHI*,!YBS(,(S&D@CS<%]$(;! M=URQK/RF6,K)O1;&!1L@+$TFW'B`<'5KS=)$1Z:F%2*5'II0I9QEIRE2I>S, M=O$O6OY1%)0)/)OTIBF7F2M6W?E(U6IP'(I*C:X$B7FKB=BL7-23_3N-^94K]8* M.4W3;?1]J=1A*\^WD'./D.B;RL-^.KZI'.K*?%,;$.!^!;;3\_U3)^2>*A`" M!O<4;9N$W[='.#2?),_@_H2/MH?U\0B&+FY2F/7BUB&K7/CE/X_!0UY!E[FN MWC%US<*=-I,>)]JPF_R@?[CK?]0&^G"LVCX4D83,@Z*\6U4EK*E/I]")C:G^ MY)!<;1,9#X:?3T(=8LN%7VJ@GH(:_9=NY,4Q]VO@#]<^=&&U[K MP-3&.DA^MH!!EV;5+UN*"$BF$Q[O-M9AVBW(QV/%R"CF5U(:.C_"<(6.BH^V ME\1XJ;[@;9^W1\.L5L7B<)(-_M&5[FYQ[16=O64NTE'_UX3/NI^X860 MF:;JF&-GI#\QRDY;WI%0 MSK93*/>3R\/J;U&-;'>"+G7U)$)E44@.Y^VAIT7Y\96=%$9MQBO/3,YE3-X+ M5.F5B75F;"\CUX=1U(61$[H+(E[^!'>;Y-1ZBX;\)&$3_> M.O2;`!6252`_A11YW@`"*4@D-Y[`PB[X-#3P.X8'"$!EC4;5^$-6^#F.X:A;@Q9;P:H1W$CTUAQ\@"WV6J:C(AP!*;A(K05Z3C7B$=-S)Q M3^GQ%^)#P^ZST>U>2$:^&AC)Z;04"< M`0*$&(=;,*5*4U6.!K<\[*5K\.V:B/"2SZ5GNR%Q)N\@1V):E`V21+7)1%"1 MGOP9ZUC?!1VUPIX-;7;/NS.3M#G4)_EP,VVI%]KVHH@8+L=2A]XH12E5T MA:10I`S/`6122HU%)W7'96)IIM-EZ3X(ZZI,EK>8DBH!(>G*P$!*D5YZC?22 M=6.8X\98-V]!VS!-XU-_>&VI.?0X>+/51PR+%PT_Y(.N)8J9CTEN9ZQ\(FCQ MR5W9!QY.U31JXEJ%C,N$L>AK%JI:3>=BIUKS5G:1B<"55A,I0%R14GJ#E)*I M#\@;9R,-WRS'IC:T<'VD,525'%65NUM]);I954I&F#'6H=MXT,N.]G/01NT+ M2"```@*D893?)Q55FG!+0[;PA&_'^,5VYV9.=;PX2HB!$9[\.`,;844Z\Q+I MS+'>N1GV.]H`]'0=:HBU,A(I M'I"CD%JD)O^!U*36Z9AW^/E<';_S/>SHH*T/]5Y?=LHI4\Q5.ES%N1Z9^HP^M_D<=#`Q+Z6U?A(.I MQ\LYMZ6"ILW!E<%3AT8MQ2G7=UE&#BVQ.CT-)//`<\RH%X!(Y>D$@EF9G*G] M8=D5(3^G;H<^;O0S@J$ULT.X>><1RITNY-!PW4*DW=5[J"K.N6TC;8?V& M:\N`=:.9NM)D0%%V;M6=T.8(W]A9L=6A^)AQ2[Z[L])%*UQ>3P=H/B``0!9" MRDI4'4GF97^F.)EGF\0N](FB'=M/52_M3("D17E8J"G4>;C4I#]$-IX.QMIG MW5)[W^;ATE;-,>]!I8[@5!1UZ+-"?`IZS5.)H;YD1XPV-.NJZ`Y5N[AR8*WI&LM#@4QW(!]I]`ON!@AQ!&;`,$2H55UU!<1B[^++ MNW?B?CZT'OQ>%+8?33?Z6EV;<@"4J4/9R2K4G*^(YAQV=%P%1SHBX,*1._0+ M688AHHW4$2P:=@?4PU7>K#,UY M'VO.H@2^T@ET_TA8E>H,3ASND;&,HQA)*;J1T75[!)V7#\%C$\%)U#KZ85^; M,^*0Y<-D(X<6?DF^V&0FL)(>\A:!%VQ8=B3LZBM4=<* M;&=K_GXZ+%NR*Q#0CD$M7CB_X9*T9:+-EU MOJ5O-_2PV"G108MD,#@)"!P%"IA(:,+!H_B8@T+I['6`0TRU.M06!=K-[1A1 M(LQ^SR/&14V#7+HO3/8`>7V. MZQH,33#8ON:L[K-\_M\W6I[03%5#1E"ZO4+32Y>804^D".]:SO3`/DD.RR9QV%&`EB7[I>C2IAT>O=1U@ MSY'%,V1.T*N-=ZE:%U34%;^DCY0K+MOZ'RETT4,= MTV9AF)2'S^<4\_B";_:MV/"K+%G`>6:CP_&=]K[K:@:K88@`BG0$..=<'\!] M3K`S)L?UNIN@5`6Z`YZ24G64]H`SE:H'#K><+B6Q8=SMW8^&U"8!$UU7,N>Z MJR(U3(Q/G[4VNE%;?<$#V,2*8M*ZOAX\C0W8.&9N2!J]H[G+';+.Y=>A>BI1 MO)B@.QAHZJIQ?+E6F;9ACMQ.@;KH6J>3G9`;%^`=-\S=UW*5,CO+R*LM`K>I M=R*F`<3J,%/`/4D3X^GZ*ENEY>\D4S;_BO_F29$:JU_T4:/=1DX20JJ'&J`= M-W)(S#!Y4$I=S01F>.(:J>,/"N=/FA2+N?.(F)`W[.' MOT1"0M(KQ,LM:N3#B'!=Y%N9R_',LBTM2I$,4!T&Q/2:8OO5(?I='&(G$.3S M3`&J5)HP0%M?)!SRLXI<1%8\`0:\L;\NGYA>;GF=W[&>1XW]NKE"A3&@'E`UT_K5;'BO*G'7GM.6+UL6%Y^HH^LH,W+6EK>ICDK M9!ZI:E+)=[2-1>WI6UH]B_2F/QQ$:N,>)=>H'".FF+1TD)80LI&4U.<@4?B) M\8'WI'W/+/(@KMZJ(F'%-LV3XD"N*_K*?^2SST5;\8G)U(+J]`2-]\P910@. M]1MW#4QR"JHDJ>\LXR8!E^N"/:9./X@$(0HFMD%MD`MMVQXW^`4GU.8/7.,:3`4 ML(B&ST.`KVFN;[7NU_M-EOY>92SQM.$>=V"9*+%B&KTO^T\I!4@D9#QWMU," M]M'4Y0I7"S/LHP'68&3#PZ`D8.N!Q]+(O2.OBL_<<']BQ6+9[#92_$HC>RI[CQ#VP')?ZC6PSZ\")&$3V,J'$1 M_>>#!&5T@R`)B10O!05_W+X\6E@C@Z&L"EH>] M%`#^HJ?A"O=2SA>:1WEVQ-&-D;%M?2];PV+FO7F8\8A4!<_NZ8X5PDTMBE`L MH7QYL>-I8#XR`@]+ZZ!H,XBH42?@@?/+K//4U,WZG,;#3:V2!S/3XRC%9]07 M4".&]K=#]6;(+PD6MQ$(+!"PO$S+U"(KX&N:4QEQ.>HJ:+^";TQT20@O"`&J MPE`G4++**2AP==A<-B=US0;_[XMFA?_$_]KP&TGNS7]02P,$%`````@`$VL3 M/Y5]'[1<$P``IU(!`!4`'`!C=&QH+3(P,3$P-C,P7W!R92YX;6Q55`D``U:< M3DY6G$Y.=7@+``$$)0X```0Y`0``[5UM<]LV$OY^,_'8! M/%@L@/<_-9N-CP`!X@3`:]S-&_#D7\'XWXUFXP2/)]==J/3P\O';95ZD+":!X2EQ`^0>-9O/7!O_OG_]XSY6<$,!5 MO&MT"6QTIL/&[E%C]_#=7OO=WIO&[^0?)+[_L!]^>_?HZ*@5_NO35RE,^R(3 MN]OZ\NGBVAV!L=.$B`8.:(-KN_,(`V`.^(N M;/&OM#(EM);^U6?EM[Y#``I&(("NX]/R1J\*U-2&<\0L`=U4( MLU6UG2<.'75]_"!GX-.O6[^J@?`2!Z"X*>&W%3J0RVN+J6\K;7I;5'L[:KXZ M`X0M:*L*RTB$T8)V??"C^^ M8%8E[`6/`4`>\)86<\'R=#!R%U/J8S>AQ^=T&9.E&M^Y`_Z''2;(`X@R&I$A MD7;N:,!7'D5I35%Q3_`4MG5*FT/'F7Q[(F,WSMVJIR/<0I(_<.A=R/2C'[:X MO2W@!W3Y2=B"9GLW(OP_9VAHB:*Z)H=Y'9RS/U*MUCYKB0TE*_'7(X'1`\EHFG`&=[%A,/D`\[NZ_CO5[>"]&7\$0V7I$WVJ_;\<&HVO$4&_,B\_=>MR6&_9,IX59U*!6>C5)_ M68W^N#8C<`PSFAKS?H/9/`#L6][%`IU,FT*#`D`H"+^Y,B6(]62>8V`8$9[Q(%X9-WLQ_SL)2# MS]&,F83)_!($.OR8D%]U=R7!B$V$V_;*":8!/4=GCRZ@M#< M:+-QI1>,`%FT5(?K<_696V@4=7`^7)$7]\OU;CE'+FR(&J+#X;DH-Z7IF[R>IZFJKOE6,9#G MFZO#G)`K+J!S!WT80$!97[T.L'L_PCXSA9Z"`71A(+3R+BZMPIX1@$2>#)9< MH4>=/6ZJ1(8D[>=&'",8$/S`UQ9:TI\I:LQD M"C='9");F`:/@D2(W#3DNGB*`MIWYCR[J9.9IVLRFQDIZ+(LE`PF2E9,N@(^ M)R5]A_"V;,^-Z7J-#*2E7)J!GXJ,AYQ_S\83'\_!TK!8JS0Z=[-2TQ2_H'<+ MH&RW&:N7S6JOV7&+G;ZWLQ M;368(?.PDLB>*)H78P9I[G0U6@ZF@F,HJ_*\RS0>PV`<;ONB<#^)K70`$EHJYM6QZ;$-"K#;^*9(3D^"4R=2+[";I0F%HHK;ZE#0U M9M(N@CTJ%1\5!2C2PR-&>EVUIL/(C"8Q\"6!,9EE\3S((7+\O@.]/\@G[+A$K!9"6;(9N.I^'Z/Z2R_%PQ`2.`*)R!Q1G'"TSI)0AZ M@QOG45.R3,@$0Q.AJ*=%@369:KD"@0,1\,X<@GBJ/69\U%0=CB^@M19S9A'T M5&1B)`\Y/+>%5UH$U5@_X+0]-;N_@W^J5"O8"75Y88:D#\CUB)FO/]N7J=DX(RY6<%H41S7'TE3X.C2(=J;! M"!/XXYDYZ?/QFL;*#"("KEV'344249D_SRF=;L^7D;9J3,;"3EQB9:X4*\VJ MWC3@U_-Y;/6]+3?&5=;4EPG4E&0%R^Z];',N+:*V'H-M(0"-Y05CUFUC^LQ3 M9RB9).W-S'FS7*6/(C_JFS:S5-6$UV8B%7GOK0DBNV:4YCDS5U]='9DV8QXJ M\*:I!.[JW;(RY[_2\FQ/$FEOT)OP6Z69^0H2N!OD2N>';!ZW7GG<8O$EDM"U M^5R;S[7YW"HT9OOYW&O'!_0*S`":`DTW::RJJ$SHY/*?-6`,UF?2H#>(3-%# M5^,*:L-/$ZBHJFP^AD*>2_=7C4G*M3-&MN9;8TO4.1%:*Y4Z3"@^3E M7/5\V$&KLV)J*K)D+D9IXO"H*D`6A+WL&]@HS$()=U1:7LI-3%!,`A6EP%9EQBA),3K\8A=H-&TZD7%6[-P5/9S2J2,^B25759HQ.Q2Z/,L-_6F@IS!SDTJC[#$U:A/7 MD&X"S!QG_,P(THC9T)FQ06<(+J?C.T!Z@[6JP]!D'9X5,\`TH]SH:D$\5>T) MF*KCY`^[=7W\L"/^MN&F\KJE:,75F^MB59RKMO6;65JJ6[^9&6`"Y9NV>M-6 M;]KJS2HT9HNO\B['#;[@>MKDZK@!G$D\0U-46&6B)G6I4AP3A<_2V"5FWO0G M&*6;%YS;3`ATO/]-H]S%#;X"+D8N]'DI,+?H!K,_\/;=4GZ2J&P75*7+S%WN M$FY6!FZ)!+B2OGP*F%87ACCKZ,H)^8:2R(I[PLHKB#'XC+[![1+@4'`*%O]G M+0G?1TV^S:,I.5Q$L[%17*/WBX*NL)/+EJOR7`IR0?A@M9ZRU(0&,XQ6HZM7 M$31U%;,M(S$:!C(E)R*G#I)51S[A,P<2"_L#JT)-J-9LU?T!%M[V-+6O+28J,8_,I(H**@N0*LC="-=J"V M$QXK.DW-"MHB8153DZ=@UJTSLABLS#I0G]>SUGMF'J_*6)0R'@S@C-NWI:E@ M3>M+&_;7835V3]_&F.1'*EV73!,/^!H9`-(M>6FQ40Q^%3<"*HJ7)7G1>$W' M9J4O<&Y8PU7!/8+JA@A3`T)*]W])3L_IZR5O')3=K^5TM$_P#'K`.YYGIKXT M;>86U6[XD(%(%UG9ZRV,KYGCUHD\6!]_:C8;?WW^].?^WW]] M<2?3QZ_HX,C[<3@;?IVCV]/IP\=#__;'Y_C]MR^S-P=N[S^#5Z\._WCUE8[AC^/>^>,A^O[][&O_ M<`#F!\/6PP\TO_YCL`ONYS>M]NWN\1^MBXL?O_QP^V=GQ_[L/M@]_N7#WXV3 MZZMFTTQF2-$XEA%/*A*%:A>#*6WR\L, M[:!PHXH?>9XY/A^?^X!`?NXYN1+6$0I"^BMR0B)U(2D'J*J;9>6.'P\&P`UZ M@[-'-TR"7;'V]5!Z`W3X7DA_'7PO!JB"][H4=OD.&[,(F;/A*7QV:GM]?55Q M+>X8*8BA_`P_"0<,9@P)RE>%%;+V6]NPSU^(USF.\EMZ"[^?(05WS5U/)Q,_ M;)3C+YGL.1I@,G:RRST5U8$75%V'0;TPC"6N`E)W#63?@9ZF%S!651A/[(O% M=]K5D$]H*;LW9)OW1USB`.R(;@(=3RF+=DI/`74)G(1((8_?HD%[@W[,QAMF MTS&3<2^T+51"?*FQSMX?4=G[(\I'G,@S8/8J"7N5A+U*HAJ\:OL/@8F/-3KB M3,**R@1@+A>6@5?5BV/;9E9M\:NX8B<]3B%U?4RG!,CQJ(*B+&=ZF9Q)+)(L M/ZK*?&;YD>5'5>9'^>.*CIC:H+$R@97+>S;!5EN.LR`Y8K'4)_P>_V#>]QW$ M+\[FJ?#P1;ZRG$=*<(G7^RS_J2S_*1-C0FS(DB%+ABP9JD)CMD^&1`893=6? MQ?57Q$NY-$D,4$5'+[;/F2+2)!9T70>2L#[@&0LJ1Y.*2;*\Z"7R(J$HLD2H M(A.7)4*6"%69".6.*CI"*E]A1?R02W4V0%9?;L/)C5`0)8Y@RC&:#2+LNS(O MDLL4"QS[ADPEIAQ+82R%J3*%21],M,12NJ9:'%O)0DG=DP4F&$M;N`@Z?OH\ M=GMWZ:H=&;G2`ZBE-I6E-B7B2R1I8PF/)3R6\%2A,=LG/`)#C(X`$U%?D].= M0HBJ84SF*)-L=7/L$D0E)T$_1(+SQ,\9D:-.&@S<(Z87,#?W.5BY;B6D$#+JUX@KY()*L]G78DL78_`E"&'#P*'^1""/^Q#Q@]*]\7;:D:+LO]@))4+DP MLSMD59C$+"FRI*C*I$ALC-&T7R9B034Z?BYI$L6T]G5$DJ7<#!G6.=FDQ:VZ M@O2^/'D2$&@ITXND3.(A98E2%28V2Y0L4:HV4=H\LNBA1P7T5J.3;R!%1?"K M)14ZQ>Z4MY]?NLVX7C"//80K6F*4)TN("Q42)#JV>@!^6TB[`D/(A:#@TAGG MD"`*W-=#/&NQ7RYBGOUA-=0SI9H9;$1W4S)QNBP#-K9^$3([\M= M6_[<3?CZ&*/K@(WX8>T$[4T#&CC(8\MD52-)KHY:^:,(9I%GWI3U3']ZYT.W MZV,GYQ%[,4?$1=9FQ$E!(X+X0';8Z3`;/&Y'UW<41'E2G*&21N>0L*?^?LQ8\&E)+V^OGYR M>%?J(`*I'Q('4M$`RN5K(/[]\I_/8I(6@6**2]`A",CA"%0;H%J_/*UT""G!)@-AE!UK,GD`:V`S?$',^>(LJ@,Q8J20)B MY>*LLIS%8=[XD/XSNM'[]6RI0%5ZZ&IFI/!*`Q_G4,+'Y94BL5Q(R^+5VTQ# MFSY%4LLW$:QRI5H^JZZ`>0@_)V&K-AH-*7J[[+K3EE]#VT!!!M[3&J\M6XZV/59/BEZ5H10`@UH2-L<]LAGQ\#>+6 M17L0(#STKY=MO%4`N5RB,>`01%I<"@M%S4KX"(KZVU/HXHEPX_.F*\3D11@EJ?912CNW]=*7XG$[H)9*UJ9;H M;7%%@/@Q,-0L#QB-S*,&]3WD"O_?M#WAI\TQA*P$D!MK_BVUR_I260)X,_\U M=YT\%)E\C47.1H0MO==6>J;2%K],75/;LL4?FK(F]UH*,&\5Q3(_2]L#@81Y M0@I='5]'O[?7\F*$19=LVE\Q9$OE'8[;]"`66S8==SS_-86^U>MD;3:(.W\/<2W9O`4= M3;\_$K>?N)[/X!I1T>->SUCC5+01=3R?A@3R!R$&1`ALRJ8:D=`W%),3$FV@ M1!J.+&RQ4-FBH9)G@UPD,B$B5TONJY:LJ7]$F\446Z,G=HUER*WDD\>1D6U& M=BBIE!)TW2"DGDB("$!]0T04ZQ'(O390O@[4OO!81Q>5DXI=+BHY(O_OB72( ML-*150/AX^D M))&2R$J>P"[NH!.($='%4EJW/;4E:Z"C*)R>1[FI*?\*3J(+_#_ONW=G?_WY MX`3A[!'7&N[W^G3T.,>#=OAZ4R>-^O]._QY8<^K5I\[WBO>%G4C:[[*&A[/Z M2']P&'JX?Y[<=^NHXL-QST::YI#^7,(=.'!.I4'MK-NOW3M8T1KLN=9X1NJ7 MK[W6N=OV+FR%-/_H=U^'_;'IWHS]9D_$X;5'6[9QT MZB]?'J;G-4>_'9Z/-()^M[4U5D=O[PHC_WZ$,YK(^GU.YZ;7X=5^#RW MI(HU.'=AK3M]&-L/\Q/GAK9;C[/!U5^@91J+3Q(?M"Z3%^;>XTWU-'%9BB@K MMUK&0.1BRAW/F\6%2%/I*1TU\83S_[8R/XJ5%%IRG'2J9XG,-**DN M-ZMW"M!T\WC(.9"5-%KV'7>JY\F)LHBZ@@?`$P)^\)&-1/]]I".-CE0^WRK*,"2'Y3C%CF8DW12FJ5FJV?.0DG9,,4O8' M^^2[C"C2M'0>X<5=DL@(HAN-`6\P+%GM68]'9[:'I+;OA.)&6\:N@AEB"HOY?2`,H7C\Q?TP M&$NY=\'(+NU)`1*!6)<EEH]=B/GF3/LD M3^4GRD117PG$)2E1?=TE;T-XI#(X$=NW!.Q%KZL2(Z$H)HEZ!=P(OFM%;%F:1P2\?%?IK18RB7" M6A0*[6JA(?L)>4B4\/"(83+?>1[[G@L);7/G[2!6',WR0TW5=F&<]9$*HUX& MME1]"LW7'H8.\B2KP@"J#_4`QM"*1-X[0*>RJK,Q)''EBS(+Q+`%TC0+W(^P MNBP5*9"J[\`L;9PIMTRP[-TA_F2Q'O!(%F7N17-%>9%FJ2N[?X>419:R?`,Z M/G:0!WN0:3[E+?R'F&9`19%7H:WQ48JD1Z6QC4=0Q8N8C=VU&,!'UX>R\Q(B M&B52Q3'+NU!G>8CU1==!F)_&"KH@OI[5*C@/KGQ)FI:S\NG9_W>=H17?WP MS1*(]X76_%VH,S9]QT;DSO9"^"9/"ZAV/I@9>IICGJ!;4/Q=TA,KH()[\&4Y M,@-ZXES4M_FRL(B-J?C#/7Y@*O0Z?@_H[//Z6O0KM.:'@,UV8/QH'#O^:,B^ MSX4@0R3JTX289WP%=^,_K,'ZC>EVNC,)"!R+":8PSI;$:5%\5"F@(0Y"FZZT M8A/,L=,^).;8)G!Y5D81O#=#%D?Q@Q%G[HC8#J'X`V7>FL3Y7%4387RFB%1Q\$ MX\\A\=GM'U!+`0(>`Q0````(`!-K$S_=!2`Q0````(`!-K$S\Q-8M"/PD``"1E```5`!@```````$```"D M@6M```!C=&QH+3(P,3$P-C,P7V-A;"YX;6Q55`4``U:<3DYU>`L``00E#@`` M!#D!``!02P$"'@,4````"``3:Q,_Z&L:S8@1``#7)@$`%0`8```````!```` MI('Y20``8W1L:"TR,#$Q,#8S,%]D968N>&UL550%``-6G$Y.=7@+``$$)0X` M``0Y`0``4$L!`AX#%`````@`$VL3/YMN?U<;(```U7@!`!4`&````````0`` M`*2!T%L``&-T;&@M,C`Q,3`V,S!?;&%B+GAM;%54!0`#5IQ.3G5X"P`!!"4. M```$.0$``%!+`0(>`Q0````(`!-K$S^5?1^T7!,``*=2`0`5`!@```````$` M``"D@3I\``!C=&QH+3(P,3$P-C,P7W!R92YX;6Q55`4``U:<3DYU>`L``00E M#@``!#D!``!02P$"'@,4````"``3:Q,_26&(7Y@(``"=0```$0`8```````! M````I('ECP``8W1L:"TR,#$Q,#8S,"YX`L``00E#@`` ;!#D!``!02P4&``````8`!@`:`@``R)@````` ` end XML 19 R8.htm IDEA: XBRL DOCUMENT  v2.3.0.11
Note 3 - PROPERTY AND EQUIPMENT
 6 Months Ended
Jun. 30, 2011
Property, Plant and Equipment Disclosure [Text Block]
Note 3 - PROPERTY AND EQUIPMENT

Property and equipment consists of the following at June 30, 2011 and December 31, 2010:

   
June 30, 2011
   
December 31, 2010
 
             
Equipment
 
$
105,324
   
$
100,245
 
Furniture and fixture
   
10,218
     
9,725
 
Automobile
   
749
     
713
 
     
116,291
     
110,683
 
Accumulated depreciation
   
(115,422
)
   
(109,778
)
                 
Net property and equipment
 
$
869
   
$
905
 

Depreciation expenses for the six months ended June 30, 2011 and 2010 were $78 and $2,253, respectively.

XML 20 R14.htm IDEA: XBRL DOCUMENT  v2.3.0.11
Note 9 - COMPREHENSIVE LOSS
 6 Months Ended
Jun. 30, 2011
Comprehensive Income (Loss) Note [Text Block]
Note 9 - COMPREHENSIVE  LOSS

The components of comprehensive loss, net of tax, are as follows for the three and six months ended June 30, 2011 and 2010, respectively:

   
Three Months
Ended
June 30, 2011
   
Three Months
Ended 
June 30, 2010
   
Six Months
Ended 
June 30, 2011
   
Six Months
Ended 
June 30, 2010
 
Net loss
  $ (90,167 )   $ (450,732 )   $ (159,964 )   $ (650,945 )
                                 
Other comprehensive income (loss), net of tax:
                               
     Foreign currency translation adjustments
    (52,202 )     97,518       (102,421 )     71,205  
                                 
Total comprehensive loss
  $ (142,369 )   $ (353,214 )   $ (262,385 )   $ (579,740 )

XML 21 R15.htm IDEA: XBRL DOCUMENT  v2.3.0.11
Note 10 - LOSS PER SHARE
 6 Months Ended
Jun. 30, 2011
Earnings Per Share Reconciliation Disclosure
Note 10 – LOSS  PER SHARE

The following reconciles the numerators and denominators of the basic and diluted per share computation for the three and six months ended June 30, 2011 and 2010, respectively:

   
Three Months Ended
June 30, 2011
   
Three Months Ended 
June 30, 2010
   
Six Months Ended 
June 30, 2011
   
Six Months Ended 
June 30, 2010
 
Numerator for basic and diluted earning (loss) per share:
                       
Net loss
  $ (90,167 )   $ (450,732 )   $ (159,964 )   $ (650,945 )
                                 
Denominator:
                               
     Basic and diluted weighted average shares outstanding
    62,375,200       62,109,702       62,375,200       62,109,702  
                                 
Basic and diluted loss per share
  $ (0.01 )   $ (0.01 )   $ (0.01 )   $ (0.02 )

XML 22 R13.htm IDEA: XBRL DOCUMENT  v2.3.0.11
Note 8 - ACCRUED SEVERANCE BENEFIT
 6 Months Ended
Jun. 30, 2011
Pension and Other Postretirement Benefits Disclosure [Text Block]
Note 8 - ACCRUED SEVERANCE BENEFIT

Employees and directors with one year or more of service are entitled to receive a lump-sum payment upon termination of their employment based on their length of service and rate of pay at the time of termination.  Accrued severance benefits represent the amount which would be payable assuming all eligible employees and directors are to terminate their employment as of the balance sheet date. The accrued severance benefits at June 30, 2011 and December 31, 2010, were $65,013 and $121,751, respectively.

XML 23 R6.htm IDEA: XBRL DOCUMENT  v2.3.0.11
Note 1 - BASIS OF PRESENTATION
 6 Months Ended
Jun. 30, 2011
Business Description and Basis of Presentation [Text Block]
Note 1 - BASIS OF PRESENTATION

The accompanying unaudited condensed consolidated financial statements of Clavis Technologies International Co., Ltd. (the “Company") has been prepared in accordance with U.S. generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, these condensed consolidated financial statements do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In management’s opinion, the accompanying unaudited condensed consolidated financial statements contain all adjustments (consisting only of normal recurring adjustments), necessary to state fairly the financial information included herein.

The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make judgments, estimates and assumptions that affect the reported in the financial statements and accompanying notes. Actual results may differ materially from these estimates.  In addition, any changes in these estimates or their related assumptions could have a materially adverse effect on the Company's financial condition and results of operating.

Where the functional currency of the Company's foreign subsidiaries is the local currency, all assets and liabilities are translated into U.S. dollars, using the exchange rate on the balance sheet date, and revenues and expenses are translated at average rates prevailing during the period.  Accounts and transactions denominated in foreign currencies have been re-measured into functional currencies before translated into U.S. dollars.  Foreign currency transaction gains and losses are included as a component of other income and expense.  Gains and losses from foreign currency translation are included in the stockholders’ equity (deficit) as a separate component of comprehensive income (loss).

These unaudited condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary. All intercompany accounts and transactions have been eliminated in consolidation. While the Company believes that the disclosures are adequate to make the information not misleading, these condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes included in the Company’s registration statement, filed with the Securities and Exchange Commission.

Going Concern

The Company’s financial statements are presented on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business.  The Company has experienced recurring losses over the past years which have resulted in an accumulated deficit of approximately $3.79 million and a working capital deficit of approximately $1.70 million at June 30, 2011.

The Company’s ability to continue as a going concern is contingent upon its ability to secure additional financing, increase sales of its product and attain profitable operations. It is the intent of management to continue to raise additional funds to sustain operations and to pursue acquisitions of operating companies in order to generate future profits for the Company.  Although the Company plans to pursue additional equity financing, there can be no assurance that the Company will be able to secure financing when needed or obtain such on terms satisfactory to the Company, if at all.

The accompanying financial statements do not include any adjustments relating to the recoverability and classification of asset carrying amounts or the amount and classification of liabilities that might result from the outcome of this uncertainty.

Revenue Recognition

The Company recognizes revenue when revenue is realized or realizable and earned. Revenue is realized or realizable and earned when all of the following criteria are met: persuasive evidence of an arrangement exists; delivery has occurred or services have been rendered; the price to the buyer is fixed or determinable; and collectability is reasonably assured.

The Company recognizes revenue from sale of RFID hardware and software under the completed contract method accounted for as one element. For the hardware component of the integrated unit, the company has no significant obligations after product shipment other than its standard manufacturing warranty.
Revenue from maintenance and technical support services are recognized as service is rendered and billed each month under a short-term service agreement.

Recent Accounting Pronouncements

In December 2010, the FASB issued ASU 2010-29, “Business Combinations (ASC Topic 805): Disclosure of Supplementary Pro Forma Information for Business Combinations – a consensus of the FASB Emerging Issues Task Force”.  This ASU clarifies existing disclosure requirements for public entities with business combinations that occur in the current reporting  period.  The ASU stipulates that if an entity is presenting comparative financial statements, revenue and earnings of the combined entity should be disclosed as though the business combinations that occurred during the current year had occurred as of the beginning of the comparative prior annual reporting period.  The ASU also expands the supplemental pro forma disclosures required by ASC Topic 805 to include a description of the nature and amount of material, nonrecurring pro forma adjustments directly attributable to the business combination included in the reported pro forma revenue and earnings.  This guidance is effective prospectively for business combinations with acquisition dates on or after the beginning of the first annual reporting period beginning on or after December 15, 2010.  Early adoption is permitted.  Adoption of the standard is not expected to have a material impact on the Company’s consolidated results of operations and financial condition.

XML 24 R9.htm IDEA: XBRL DOCUMENT  v2.3.0.11
Note 4 - FAIR VALUE MEASUREMENTS
 6 Months Ended
Jun. 30, 2011
Fair Value Disclosures [Text Block]
Note 4 - FAIR VALUE MEASUREMENTS

The Company estimates the fair values of current assets and current liabilities (cash, restricted cash, accounts receivable, accounts payable, and other current liabilities) approximate their reported carrying amounts.

The following table presents the carrying amounts and estimated fair values of the Company’s financial instruments at June 30, 2011 and December 31, 2010. 

   
June 30, 2011
   
December 31, 2010
 
   
Carrying
amount
   
Estimated
Fair value
   
Carrying
amount
   
Estimated
Fair value
 
Financial assets:
     
Cash and cash equivalents
 
$
180
   
$
180
   
$
34,257
   
$
34,257
 
                                 
Financial liabilities:
                               
Accounts payable
 
$
540,752
   
$
540,752
   
$
367,505
   
$
367,505
 
Accrued severance benefit
   
65,013
     
65,013
     
121,751
     
121,751
 
Short-term borrowings
   
187,313
     
187,313
     
178,272
     
178,272
 

The fair values of the financial instruments shown in the above table as of June 30, 2011 and December 31, 2010 represent the amounts that would be received to sell those assets or that would be paid to transfer those liabilities in an orderly transaction between market participants at that date.  Those fair value measurements maximize the use of observable inputs. However, in situations where there is little, if any, market activity for the asset or liability at the measurement date, the fair value measurement reflects the Company’s own judgments about the assumptions that market participants would use in pricing the asset or liability. Those judgments are developed by the Company based on the best information available in the circumstances, including expected cash flows and appropriately risk-adjusted discount rates, available observable and unobservable inputs.

XML 25 R10.htm IDEA: XBRL DOCUMENT  v2.3.0.11
Note 5 - SHORT-TERM BORROWINGS
 6 Months Ended
Jun. 30, 2011
Short-term Debt [Text Block]
Note 5 - SHORT-TERM BORROWINGS

Short term borrowings consist of the following as of June 30, 2011 and December 31, 2010:

   
June 30, 2011
   
December 31, 2010
 
Line of credit from a bank at interest rate of lender’s prime plus 2.53%.  The line is guaranteed by Korea Credit Guarantee Fund and  matures in December 2011.
  $ 37,462     $  35,654  
                 
Note payable to an unrelated party bearing interest at 20.4%.  The note is guaranteed by officer of the Company and due on demand.
    93,657       89,136  
                 
Note payable to an unrelated party bearing interest at 12.0%.  The note is guaranteed by officer of the Company and matures in December 2011.
    56,194       53,482  
                 
Total short-term borrowings
  $ 187,313     $ 178,272  

XML 26 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; word-wrap: break-word; } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 27 R18.htm IDEA: XBRL DOCUMENT  v2.3.0.11
Note 13 - CONCENTRATION AND UNCERTAINTY
 6 Months Ended
Jun. 30, 2011
Concentration Risk Disclosure [Text Block]
Note 13 - CONCENTRATION AND UNCERTAINTY

Concentration in Customer

For the three months ended June 30, 2010, one customer accounted for 100% of sales. For the six months ended June 30, 2011 and 2010, two largest customers accounted for 67% and 100% of sales, respectively.

Operation in Foreign Country

Substantially, all of the Company’s operations are carried out in the Republic of Korea. The Company’s operations are subject to various political, economic, and other risks and uncertainties inherent in the country.

XML 28 R11.htm IDEA: XBRL DOCUMENT  v2.3.0.11
Note 6 - RELATED PARTY TRANSACTIONS
 6 Months Ended
Jun. 30, 2011
Related Party Transactions Disclosure [Text Block]
Note 6 - RELATED PARTY TRANSACTIONS

From time to time, the Company advances funds needed for working capital from the Company’s directors and stockholders. The advances are due on demand and borrowings outstanding were $456,045 (₩486,933,117) and $399,040 (₩447,675,393) as of June 30, 2011 and December 31, 2010, respectively.

The Company has related party loan in the aggregate amount of $149,851 (₩160,000,000) bearing interest at 12.0% interest per annum which matures in December 2011.

XML 29 R5.htm IDEA: XBRL DOCUMENT  v2.3.0.11
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (159,964) $ (650,945)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation 78 3,634
Technical fees   308,001
Severance expense 7,258 12,950
Gain on foreign currency transaction (23,602)  
Change in assets and liabilities (net of acquisition):    
Inventory 4,495 (2,990)
Prepaid expenses and other assets (2,256) 49,094
Restricted cash   1,245
Accounts payable 149,905 134,715
Advance payments on contracts   50,465
Accrued liabilities and other liabilities 19,410 (45,518)
Deferred revenue 2,868 (43,318)
Accrued severance payable (68,257) (44,012)
Net Cash Used in Operating Activities (70,065) (226,679)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from short-term borrowings   88,880
Payments on short-term borrowings   (1,071)
Advances from stockholders 53,934 135,221
Payments of loans to stockholders (18,285) (12,758)
Proceed from issuance of common stock, net   5,434
Net Cash Provided by Financing Activities 35,649 215,706
NET DECREASE IN CASH AND CASH EQUIVALENT (34,416) (10,973)
EFFECT OF CURRENCY EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS 339 (2,277)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 34,257 17,401
CASH AND CASH EQUIVALENTS, END OF PERIOD 180 4,151
SUPPLEMENTAL CASH FLOW INFORMATION    
Cash paid Interest $ 22,335 $ 31,080
XML 30 R7.htm IDEA: XBRL DOCUMENT  v2.3.0.11
Note 2 - CAPITALIZED COSTS ON CONTRACTS
 6 Months Ended
Jun. 30, 2011
Other Assets Disclosure [Text Block]
Note 2 – CAPITALIZED COSTS ON CONTRACTS

The Company capitalized costs related to in-process customer contracts not yet completed or delivered.  Those capitalized costs are recognized as cost of goods sold when revenue is realized according to company’s revenue recognition criteria.  As of June 30, 2011 and December 31, 2010, total capitalize costs were $53,564 and $53,793, respectively.

XML 31 R16.htm IDEA: XBRL DOCUMENT  v2.3.0.11
Note 11 - INCOME TAXES
 6 Months Ended
Jun. 30, 2011
Income Tax Disclosure [Text Block]
Note 11 - INCOME TAXES

The Company adopted the provisions of FASB ASC 740-10 on January 1, 2008, and there was no material effect on the financial statements at the date of adoption. There was no cumulative effect related to adopting FASB ASC 740-10.

Corporate income tax rates applicable to the Korean subsidiaries in 2011 and 2010 were 16.5% of the first 100 million Korean Won ($78,800) of taxable income and 29.7% on the excess.  For the United States operations, the corporate tax rates range from 10% to 34%. The Company provided a valuation allowance equal to the deferred tax amounts resulting from the tax losses in the United States, as it is not likely that they will be realized.  Tax losses from the Korean subsidiaries can be carried forward five years to offset future taxable income.  The U.S. tax losses can be carried forward for 20 years to offset future taxable income. The Company has accumulated net operating loss of approximately $3.53 million and $99,000 in its Korea and U.S. operations, respectively.  The utilization of the Korean losses expires in years 2011 to 2014 and the U.S. losses in year 2030.

U.S. federal income taxes have not been provided for the undistributed earnings of the Company’s foreign subsidiaries.  It is the Company’s intention that such undistributed earnings be permanently reinvested offshore.

The Company has deferred income tax assets as follows as of June 30, 2011 and December 31, 2010:

   
June 30, 2011
   
December 31, 2010
 
             
Deferred income tax assets
           
     Net operating loss carryforwards
 
$
12,500
   
$
12,500
 
     
12,500
     
12,500
 
     Valuation allowance
   
(12,500
)
   
(12,500
)
   
$
-
   
$
-
 

Management determined that it is more likely than not that the deferred tax assets will not be realized through the reduction of future income tax payments, and accordingly, a full valuation allowance has been recorded for the deferred income tax assets.

XML 32 R2.htm IDEA: XBRL DOCUMENT  v2.3.0.11
CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
Jun. 30, 2011
Dec. 31, 2010
CURRENT ASSETS    
Cash and cash equivalents $ 180 $ 34,257
Inventory   4,412
Capitalized costs on contracts 53,564 53,793
Prepaid expenses and other assets 2,514 178
Total Current Assets 56,258 92,640
Property and equipment, net 869 905
Security deposits 28,191 26,830
TOTAL ASSETS 85,318 120,375
CURRENT LIABILITIES    
Short-term borrowings 187,313 178,272
Accounts payable 540,752 367,505
Related party loans payable 605,896 541,658
Accrued severance benefit 65,013 121,751
Other current liabilities 32,882 12,357
Total Current Liabilities 1,431,856 1,221,543
Technical fee payable 352,520 335,505
TOTAL LIABILITIES 1,784,376 1,557,048
COMMITMENTS (Note 12)    
STOCKHOLDERS' DEFICIT:    
Preferred stock, $0.001 par value; 10,000,000 shares authorized; 1,000,000 shares issued and outstanding at June 30, 2011 and December 31, 2010. 1,000 1,000
Common stock, $0.001 par value; 100,000,000 shares authorized; 62,375,200 shares issued and outstanding at June 30, 2011 and December 31, 2010. 62,375 62,375
Additional paid-in capital 2,053,732 2,053,732
Accumulated other comprehensive income (29,526) 72,895
Accumulated deficit (3,786,639) (3,626,675)
Total Stockholders' Deficit (1,699,058) (1,436,673)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 85,318 $ 120,375
XML 33 FilingSummary.xml IDEA: XBRL DOCUMENT 2.3.0.11 Html 10 97 1 false 0 0 false 3 true false R1.htm 000 - Disclosure - Document And Entity Information Sheet http://www.clavistech.com/role/DocumentAndEntityInformation Document And Entity Information false false R2.htm 001 - Statement - CONDENSED CONSOLIDATED BALANCE SHEETS Sheet http://www.clavistech.com/role/ConsolidatedBalanceSheet CONDENSED CONSOLIDATED BALANCE SHEETS false false R3.htm 002 - Statement - CONDENSED CONSOLIDATED BALANCE SHEETS (Parentheticals) Sheet http://www.clavistech.com/role/ConsolidatedBalanceSheet_Parentheticals CONDENSED CONSOLIDATED BALANCE SHEETS (Parentheticals) false false R4.htm 003 - Statement - CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Sheet http://www.clavistech.com/role/ConsolidatedIncomeStatement CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS false false R5.htm 004 - Statement - CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS Sheet http://www.clavistech.com/role/ConsolidatedCashFlow CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS false false R6.htm 005 - Disclosure - Note 1 - BASIS OF PRESENTATION Sheet http://www.clavistech.com/role/Note Note 1 - BASIS OF PRESENTATION false false R7.htm 006 - Disclosure - Note 2 - CAPITALIZED COSTS ON CONTRACTS Sheet http://www.clavistech.com/role/Note0 Note 2 - CAPITALIZED COSTS ON CONTRACTS false false R8.htm 007 - Disclosure - Note 3 - PROPERTY AND EQUIPMENT Sheet http://www.clavistech.com/role/Note00 Note 3 - PROPERTY AND EQUIPMENT false false R9.htm 008 - Disclosure - Note 4 - FAIR VALUE MEASUREMENTS Sheet http://www.clavistech.com/role/Note000 Note 4 - FAIR VALUE MEASUREMENTS false false R10.htm 009 - Disclosure - Note 5 - SHORT-TERM BORROWINGS Sheet http://www.clavistech.com/role/Note0000 Note 5 - SHORT-TERM BORROWINGS false false R11.htm 010 - Disclosure - Note 6 - RELATED PARTY TRANSACTIONS Sheet http://www.clavistech.com/role/Note00000 Note 6 - RELATED PARTY TRANSACTIONS false false R12.htm 011 - Disclosure - Note 7 - TECHNICAL FEE PAYABLE Sheet http://www.clavistech.com/role/Note000000 Note 7 - TECHNICAL FEE PAYABLE false false R13.htm 012 - Disclosure - Note 8 - ACCRUED SEVERANCE BENEFIT Sheet http://www.clavistech.com/role/Note0000000 Note 8 - ACCRUED SEVERANCE BENEFIT false false R14.htm 013 - Disclosure - Note 9 - COMPREHENSIVE LOSS Sheet http://www.clavistech.com/role/Note00000000 Note 9 - COMPREHENSIVE LOSS false false R15.htm 014 - Disclosure - Note 10 - LOSS PER SHARE Sheet http://www.clavistech.com/role/Note000000000 Note 10 - LOSS PER SHARE false false R16.htm 015 - Disclosure - Note 11 - INCOME TAXES Sheet http://www.clavistech.com/role/Note0000000000 Note 11 - INCOME TAXES false false R17.htm 016 - Disclosure - Note 12 - COMMITMENT Sheet http://www.clavistech.com/role/Note00000000000 Note 12 - COMMITMENT false false R18.htm 017 - Disclosure - Note 13 - CONCENTRATION AND UNCERTAINTY Sheet http://www.clavistech.com/role/Note000000000000 Note 13 - CONCENTRATION AND UNCERTAINTY false false All Reports Book All Reports Process Flow-Through: 001 - Statement - CONDENSED CONSOLIDATED BALANCE SHEETS Process Flow-Through: Removing column 'Jun. 30, 2010' Process Flow-Through: Removing column 'Dec. 31, 2009' Process Flow-Through: 002 - Statement - CONDENSED CONSOLIDATED BALANCE SHEETS (Parentheticals) Process Flow-Through: 003 - Statement - CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Process Flow-Through: 004 - Statement - CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS ctlh-20110630.xml ctlh-20110630.xsd ctlh-20110630_cal.xml ctlh-20110630_def.xml ctlh-20110630_lab.xml ctlh-20110630_pre.xml true true EXCEL 34 Financial_Report.xls IDEA: XBRL DOCUMENT begin 644 Financial_Report.xls M[[N_34E-12U697)S:6]N.B`Q+C`-"E@M1&]C=6UE;G0M5'EP93H@5V]R:V)O M;VL-"D-O;G1E;G0M5'EP93H@;75L=&EP87)T+W)E;&%T960[(&)O=6YD87)Y M/2(M+2TM/5].97AT4&%R=%\W,F$Q,#!A85\R.6-A7S1A969?83`X,5\R8V0Q M-S$S,V,Y-V8B#0H-"E1H:7,@9&]C=6UE;G0@:7,@82!3:6YG;&4@1FEL92!7 M96(@4&%G92P@86QS;R!K;F]W;B!A'!L;W)E&UL;G,Z=CTS1")U&UL;G,Z;STS1")U&UL/@T*(#QX.D5X8V5L5V]R:V)O;VL^#0H@(#QX M.D5X8V5L5V]R:W-H965T5]);F9O#I%>&-E;%=O#I%>&-E;%=O#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I.86UE/D-/3D1%3E-%1%]#3TY33TQ)1$%4141?4U1!5$5- M13$\+W@Z3F%M93X-"B`@("`\>#I7;W)K#I%>&-E;%=O#I%>&-E;%=O#I7 M;W)K#I7;W)K#I7 M;W)K#I7;W)K#I%>&-E;%=O#I%>&-E;%=O M#I.86UE/@T*("`@(#QX.E=O M#I%>&-E;%=O#I.86UE/DYO=&5?,3!?3$]34U]015)?4TA!4D4\+W@Z M3F%M93X-"B`@("`\>#I7;W)K#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I. M86UE/DYO=&5?,3)?0T]-34E4345.5#PO>#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I.86UE/DYO=&5?,3-?0T].0T5.5%)!5$E/3E]!3D1?54Y# M13PO>#I.86UE/@T*("`@(#QX.E=O6QE#I!8W1I=F53:&5E=#X-"B`@/'@Z4')O=&5C=%-T#I0#I0#I0&UL/CPA6V5N9&EF72TM/@T*/"]H96%D/@T*("`\8F]D>3X- M"B`@(#QP/E1H:7,@<&%G92!S:&]U;&0@8F4@;W!E;F5D('=I=&@@36EC'1087)T7S'0O:F%V87-C M3X-"B`@("`\=&%B;&4@ M8VQA2!296=I2!#;VUM;VX@4W1O8VLL(%-H87)E'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@ M("`@("`@(#QT9"!C;&%S'0^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L M87-S/3-$2!6;VQU;G1A'0^/'-P86X^/"]S<&%N/CPO=&0^ M#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^ M#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@ M/'1R(&-L87-S/3-$'0^/'-P86X^/"]S<&%N/CPO=&0^ M#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^ M#0H@("`@("`\+W1R/@T*("`@(#PO=&%B;&4^#0H@(#PO8F]D>3X-"CPO:'1M M;#X-"@T*+2TM+2TM/5].97AT4&%R=%\W,F$Q,#!A85\R.6-A7S1A969?83`X M,5\R8V0Q-S$S,V,Y-V8-"D-O;G1E;G0M3&]C871I;VXZ(&9I;&4Z+R\O0SHO M-S)A,3`P86%?,CEC85\T865F7V$P.#%?,F-D,3'0O:'1M;#L@8VAA M'0^/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$ M'!E;G-E2!D97!O'0^)FYB'0^)FYBF5D.R`Q+#`P,"PP,#`@ MF5D M.R`V,BPS-S4L,C`P('-H87)E'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQAF5D/"]T9#X-"B`@("`@("`@/'1D(&-L M87-S/3-$;G5M<#XQ,#`L,#`P+#`P,#QS<&%N/CPO3X-"CPO:'1M;#X-"@T*+2TM M+2TM/5].97AT4&%R=%\W,F$Q,#!A85\R.6-A7S1A969?83`X,5\R8V0Q-S$S M,V,Y-V8-"D-O;G1E;G0M3&]C871I;VXZ(&9I;&4Z+R\O0SHO-S)A,3`P86%? M,CEC85\T865F7V$P.#%?,F-D,3'0O:'1M;#L@8VAA7!E(&-O;G1E;G0],T0G=&5X="]H=&UL.R!C:&%R M'0^/'-P86X^/"]S<&%N/CPO=&0^ M#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^ M#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^ M#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^ M#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$'0^)FYB'0^)FYB'0^)FYB'0^)FYB'0O M:F%V87-C3X-"B`@("`\ M=&%B;&4@8VQA'0^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P M86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S M/3-$2!T'!E;G-E'0^/'-P86X^/"]S M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S6%B;&4\+W1D/@T*("`@("`@("`\=&0@8VQA6UE;G1S(&]N(&-O;G1R86-T M'0^/'-P86X^/"]S<&%N M/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S6UE;G1S(&]N('-H;W)T+71E'0^/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT M4&%R=%\W,F$Q,#!A85\R.6-A7S1A969?83`X,5\R8V0Q-S$S,V,Y-V8-"D-O M;G1E;G0M3&]C871I;VXZ(&9I;&4Z+R\O0SHO-S)A,3`P86%?,CEC85\T865F M7V$P.#%?,F-D,3'0O:'1M;#L@8VAA7!E(&-O;G1E;G0],T0G=&5X="]H=&UL.R!C:&%R'0^/&1I=B!S='EL93TS1"=415A4+4%,24=..B!L969T M.R!,24Y%+4A%24=(5#H@,2XR-3L@5$585"U)3D1%3E0Z(#!P=#L@1$E34$Q! M63H@8FQO8VL[($U!4D=)3BU,1494.B`P<'0[($U!4D=)3BU224=(5#H@,'!T M)SX-"B`@("`-"B`@("`@("`@/&9O;G0@6EN9R!U;F%U9&ET960@8V]N9&5N M2!G96YE2!O9B!N;W)M86P@2!T;R!S=&%T92!F86ER M;'D@=&AE(&9I;F%N8VEA;`T*("`@("`-"B`@("`@(&EN9F]R;6%T:6]N(&EN M8VQU9&5D(&AE6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ(%1I;65S M($YE=R!2;VUA;CL@1D].5"U325I%.B`Q,'!T)SY4:&4-"B`@(`T*("`@("`@ M<')E<&%R871I;VX@;V8@9FEN86YC:6%L('-T871E;65N=',@:6X@8V]N9F]R M;6ET>2!W:71H(%4N4RX-"B`-"B`@("`@(&=E;F5R86QL>2!A8V-E<'1E9"!A M8V-O=6YT:6YG('!R:6YC:7!L97,@2!D:69F97(@;6%T M97)I86QL>2!F2!C:&%N9V5S(&EN('1H97-E#0H@ M("`@(`T*("`@("`@97-T:6UA=&5S(&]R('1H96ER(')E;&%T960@87-S=6UP M=&EO;G,@8V]U;&0@:&%V92!A#0H@("`-"B`@("`@(&UA=&5R:6%L;'D@861V M97)S92!E9F9E8W0@;VX@=&AE($-O;7!A;GDG6QE/3-$)T1)4U!, M05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ(%1I;65S($YE=R!2;VUA;CL@1D]. M5"U325I%.B`Q,'!T)SY7:&5R90T*("`@("`-"B`@("`@('1H92!F=6YC=&EO M;F%L(&-U2!T'!E;G-E+B8C,38P.R8C M,38P.T=A:6YS(&%N9"!L;W-S97,@9G)O;2!F;W)E:6=N(&-U6QE/3-$)TQ)3D4M2$5)1TA4.B`Q+C(U.R!415A4 M+4E.1$5.5#H@,'!T.R!$25-03$%9.B!B;&]C:SL@34%21TE.+4Q%1E0Z(#!P M=#L@34%21TE.+5))1TA4.B`P<'0G(&%L:6=N/3-$:G5S=&EF>3X-"B`@#0H@ M("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M1D%- M24Q9.B!4:6UE2!A;F0@:71S('=H;VQL>2UO=VYE M9"!S=6)S:61I87)Y+@T*("`-"B`@("`@($%L;"!I;G1E&-H86YG92!# M;VUM:7-S:6]N+CPO9F]N=#X-"B`@("`@#0H@("`@/"]D:78^/&)R+SX\9&EV M('-T>6QE/3-$)TQ)3D4M2$5)1TA4.B`Q+C(U.R!415A4+4E.1$5.5#H@,'!T M.R!$25-03$%9.B!B;&]C:SL@34%21TE.+4Q%1E0Z(#!P=#L@34%21TE.+5)) M1TA4.B`P<'0G(&%L:6=N/3-$:G5S=&EF>3X-"B`@#0H@("`@("`\9F]N="!S M='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M1D%-24Q9.B!4:6UE6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U& M04U)3%DZ(%1I;65S($YE=R!2;VUA;CL@1D].5"U325I%.B`Q,'!T)SY4:&4- M"B`@(`T*("`@("`@0V]M<&%N>28C.#(Q-SMS(&9I;F%N8VEA;"!S=&%T96UE M;G1S(&%R92!P'!E2`F;F)S<#LD,RXW.2!M:6QL M:6]N(&%N9"!A('=O2`F;F)S<#LD,2XW,"!M:6QL:6]N(&%T($IU;F4@ M,S`L#0H@(`T*("`@("`@,C`Q,2X\+V9O;G0^#0H@("`@(`T*("`@(#PO9&EV M/CQB2!T;R!C;VYT:6YU92!A M2!W:6QL(&)E(&%B;&4@=&\@6QE M/3-$)TQ)3D4M2$5)1TA4.B`Q+C(U.R!415A4+4E.1$5.5#H@,'!T.R!$25-0 M3$%9.B!B;&]C:SL@34%21TE.+4Q%1E0Z(#!P=#L@34%21TE.+5))1TA4.B`P M<'0G(&%L:6=N/3-$:G5S=&EF>3X-"B`@#0H@("`@("`\9F]N="!S='EL93TS M1"=$25-03$%9.B!I;FQI;F4[($9/3E0M1D%-24Q9.B!4:6UE6EN9R!F:6YA;F-I86P@2!A;F0@8VQA6QE/3-$)TQ)3D4M2$5)1TA4.B`Q+C(U.R!415A4+4E.1$5.5#H@,'!T M.R!$25-03$%9.B!B;&]C:SL@34%21TE.+4Q%1E0Z(#!P=#L@34%21TE.+5)) M1TA4.B`P<'0G(&%L:6=N/3-$:G5S=&EF>3X-"B`@#0H@("`@("`\9F]N="!S M='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M1D%-24Q9.B!4:6UEF%B;&4@ M86YD(&5A2!H M87,@;V-C=7)R960@;W(-"B`-"B`@("`@('-E2!H87,@;F\@F5D(&%S('-E6QE/3-$)TQ)3D4M2$5)1TA4.B`Q+C(U.R!415A4+4E. M1$5.5#H@,'!T.R!$25-03$%9.B!B;&]C:SL@34%21TE.+4Q%1E0Z(#!P=#L@ M34%21TE.+5))1TA4.B`P<'0G(&%L:6=N/3-$:G5S=&EF>3X-"B`@#0H@("`@ M("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M1D%-24Q9 M.B!4:6UE2!I65A2!A9&]P=&EO;B!I3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT M4&%R=%\W,F$Q,#!A85\R.6-A7S1A969?83`X,5\R8V0Q-S$S,V,Y-V8-"D-O M;G1E;G0M3&]C871I;VXZ(&9I;&4Z+R\O0SHO-S)A,3`P86%?,CEC85\T865F M7V$P.#%?,F-D,3'0O:'1M;#L@8VAA7!E(&-O;G1E;G0],T0G=&5X="]H=&UL.R!C:&%R3L@3$E. M12U(14E'2%0Z(#$N,C4[(%1%6%0M24Y$14Y4.B`P<'0[($1)4U!,05DZ(&)L M;V-K.R!-05)'24XM3$5&5#H@,'!T.R!-05)'24XM4DE'2%0Z(#!P="<^#0H@ M(`T*("`@("`@/&9O;G0@F5D(&-OF5D(&-OF5D(&%S(&-OF5D(&%C8V]R9&EN9R!T;R!C;VUP86YY)B,X,C$W M.W,@'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA2P@4&QA;G0@86YD($5Q=6EP;65N="!$:7-C;&]S=7)E M(%M497AT($)L;V-K73PO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M/&1I=B!S='EL93TS1"=,24Y%+4A%24=(5#H@,2XR-3L@5$585"U)3D1%3E0Z M(#!P=#L@1$E34$Q!63H@8FQO8VLG/@T*("`@#0H@("`@("`\9F]N="!S='EL M93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M1D%-24Q9.B!4:6UE6QE/3-$)TQ)3D4M2$5) M1TA4.B`Q+C(U.R!415A4+4E.1$5.5#H@,'!T.R!$25-03$%9.B!B;&]C:SL@ M34%21TE.+4Q%1E0Z(#!P=#L@34%21TE.+5))1TA4.B`P<'0G(&%L:6=N/3-$ M:G5S=&EF>3X-"B`@#0H@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I M;FQI;F4[($9/3E0M1D%-24Q9.B!4:6UE6QE/3-$)U!!1$1)3D6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U& M04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V M,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@ M("`@/'1D(&-O;'-P86X],T0R('9A;&EG;CTS1&)O='1O;2!S='EL93TS1"=" M3U)$15(M0D]45$]-.B!B;&%C:R`R<'@@6QE/3-$)TQ)3D4M2$5)1TA4.B`Q+C(U.R!415A4+4E. M1$5.5#H@,'!T.R!$25-03$%9.B!B;&]C:SL@34%21TE.+4Q%1E0Z(#!P=#L@ M34%21TE.+5))1TA4.B`P<'0G(&%L:6=N/3-$8V5N=&5R/@T*(`T*("`@("`@ M("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M M1D%-24Q9.B!T:6UE"<^#0H@("`-"B`@("`@("`@("`@ M(#QF;VYT('-T>6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ M('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O M;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D M(&%L:6=N/3-$6QE/3-$)U!!1$1) M3D6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L M86-K(#)P>"!S;VQI9"<^#0H@("`-"B`@("`@("`@("`@(#QD:78@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE M=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SY$96-E;6)E<@T*(`T*("`@("`@ M("`@("`@("`S,2P@,C`Q,#PO9F]N=#X-"B`-"B`@("`@("`@("`@(#PO9&EV M/@T*("`@("`-"B`@("`@("`@("`\+W1D/@T*("`-"B`@("`@("`@("`\=&0@ M86QI9VX],T1L969T('9A;&EG;CTS1&)O='1O;2!S='EL93TS1"=0041$24Y' M+4)/5%1/33H@,G!X)SX-"B`@(`T*("`@("`@("`@("`@/&9O;G0@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S M(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@ M("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D(&%L:6=N M/3-$;&5F="!C;VQS<&%N/3-$,B!V86QI9VX],T1B;W1T;VT^#0H@(`T*("`@ M("`@("`@("`@/&9O;G0@6QE/3-$)T1)4U!,05DZ(&EN M;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I% M.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X- M"B`@#0H@("`@("`@("`@/'1D(&%L:6=N/3-$;&5F="!C;VQS<&%N/3-$,B!V M86QI9VX],T1B;W1T;VT^#0H@(`T*("`@("`@("`@("`@/&9O;G0@6QE/3-$)V)A8VMG6QE/3-$)TQ)3D4M2$5)1TA4.B`Q+C(U.R!415A4+4E.1$5. M5#H@,'!T.R!$25-03$%9.B!B;&]C:SL@34%21TE.+4Q%1E0Z(#!P=#L@34%2 M1TE.+5))1TA4.B`P<'0G(&%L:6=N/3-$;&5F=#X-"B`@("`-"B`@("`@("`@ M("`@("`@/&9O;G0@6QE/3-$)TQ) M3D4M2$5)1TA4.B`Q+C(U.R!415A4+4E.1$5.5#H@,'!T.R!$25-03$%9.B!B M;&]C:SL@34%21TE.+4Q%1E0Z(#!P=#L@34%21TE.+5))1TA4.B`P<'0G(&%L M:6=N/3-$;&5F=#X-"B`@("`-"B`@("`@("`@("`@("`@/&9O;G0@6QE M/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R M;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@ M("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D(&%L:6=N/3-$6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE M=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXY+#6QE/3-$)TQ)3D4M2$5)1TA4.B`Q+C(U.R!415A4+4E.1$5. M5#H@,'!T.R!$25-03$%9.B!B;&]C:SL@34%21TE.+4Q%1E0Z(#!P=#L@34%2 M1TE.+5))1TA4.B`P<'0G(&%L:6=N/3-$:G5S=&EF>3X-"B`@#0H@("`@("`@ M("`@("`@(#QF;VYT('-T>6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U& M04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SY!=71O M;6]B:6QE/"]F;VYT/@T*(`T*("`@("`@("`@("`@/"]D:78^#0H@("`@(`T* M("`@("`@("`@(#PO=&0^#0H@(`T*("`@("`@("`@(#QT9"!A;&EG;CTS1')I M9VAT('9A;&EG;CTS1&)O='1O;2!W:61T:#TS1#$E('-T>6QE/3-$)U!!1$1) M3D6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE M=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@ M#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D(&%L:6=N/3-$ M;&5F="!V86QI9VX],T1B;W1T;VT@=VED=&@],T0Q)2!S='EL93TS1"="3U)$ M15(M0D]45$]-.B!B;&%C:R`R<'@@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U) M3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\ M+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@ M/'1D(&%L:6=N/3-$6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#)P>"!S;VQI9"<^#0H@ M(`T*("`@("`@("`@("`@/&1I=B!S='EL93TS1"=,24Y%+4A%24=(5#H@,2XR M-3L@5$585"U)3D1%3E0Z(#!P=#L@1$E34$Q!63H@8FQO8VL[($U!4D=)3BU, M1494.B`P<'0[($U!4D=)3BU224=(5#H@,'!T)R!A;&EG;CTS1')I9VAT/@T* M("`@("`-"B`@("`@("`@("`@("`@/&9O;G0@6QE M/3-$)U!!1$1)3D6QE/3-$ M)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA M;CL@1D].5"U325I%.B`Q,'!T)SXW,3,\+V9O;G0^#0H@("`@#0H@("`@("`@ M("`@("`\+V1I=CX-"B`@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@ M("`@("`@/'1D(&%L:6=N/3-$;&5F="!V86QI9VX],T1B;W1T;VT@=VED=&@] M,T0Q)2!S='EL93TS1"=0041$24Y'+4)/5%1/33H@,G!X)SX-"B`@("`-"B`@ M("`@("`@("`@(#QF;VYT('-T>6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D]. M5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF M(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@ M("`@(#PO='(^#0H@("`@(`T*("`@("`@("`\='(@6QE/3-$)TQ)3D4M2$5) M1TA4.B`Q+C(U.R!415A4+4E.1$5.5#H@,'!T.R!$25-03$%9.B!B;&]C:SL@ M34%21TE.+4Q%1E0Z(#!P=#L@34%21TE.+5))1TA4.B`P<'0G(&%L:6=N/3-$ M:G5S=&EF>3X-"B`@#0H@("`@("`@("`@("`@(#QF;VYT('-T>6QE/3-$)T1) M4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@ M1D].5"U325I%.B`Q,'!T)SY!8V-U;75L871E9`T*("`@(`T*("`@("`@("`@ M("`@("!D97!R96-I871I;VX\+V9O;G0^#0H@("`@(`T*("`@("`@("`@("`@ M/"]D:78^#0H@("`@(`T*("`@("`@("`@(#PO=&0^#0H@(`T*("`@("`@("`@ M(#QT9"!A;&EG;CTS1')I9VAT('9A;&EG;CTS1&)O='1O;2!W:61T:#TS1#$E M('-T>6QE/3-$)U!!1$1)3D6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U& M04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V M,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@ M("`@/'1D(&%L:6=N/3-$;&5F="!V86QI9VX],T1B;W1T;VT@=VED=&@],T0Q M)2!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`R<'@@6QE/3-$)T1)4U!,05DZ(&EN M;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I% M.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X- M"B`@#0H@("`@("`@("`@/'1D(&%L:6=N/3-$6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K M(#)P>"!S;VQI9"<^#0H@(`T*("`@("`@("`@("`@/&1I=B!S='EL93TS1"=, M24Y%+4A%24=(5#H@,2XR-3L@5$585"U)3D1%3E0Z(#!P=#L@1$E34$Q!63H@ M8FQO8VL[($U!4D=)3BU,1494.B`P<'0[($U!4D=)3BU224=(5#H@,'!T)R!A M;&EG;CTS1')I9VAT/@T*("`@("`-"B`@("`@("`@("`@("`@/&9O;G0@"<^ M#0H@("`@#0H@("`@("`@("`@("`\9&EV('-T>6QE/3-$)TQ)3D4M2$5)1TA4 M.B`Q+C(U.R!415A4+4E.1$5.5#H@,'!T.R!$25-03$%9.B!B;&]C:SL@34%2 M1TE.+4Q%1E0Z(#!P=#L@34%21TE.+5))1TA4.B`P<'0G(&%L:6=N/3-$;&5F M=#X-"B`@("`-"B`@("`@("`@("`@("`@/&9O;G0@6QE M/3-$)U!!1$1)3D6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ M('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O M;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D M(&%L:6=N/3-$;&5F="!V86QI9VX],T1B;W1T;VT@=VED=&@],T0Q)2!S='EL M93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`R<'@@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@ M1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T M)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@ M("`@("`@("`@/'1D(&%L:6=N/3-$6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#)P>"!S M;VQI9"<^#0H@(`T*("`@("`@("`@("`@/&1I=B!S='EL93TS1"=,24Y%+4A% M24=(5#H@,2XR-3L@5$585"U)3D1%3E0Z(#!P=#L@1$E34$Q!63H@8FQO8VL[ M($U!4D=)3BU,1494.B`P<'0[($U!4D=)3BU224=(5#H@,'!T)R!A;&EG;CTS M1')I9VAT/@T*("`@("`-"B`@("`@("`@("`@("`@/&9O;G0@"<^#0H@("`@ M#0H@("`@("`@("`@("`\9&EV('-T>6QE/3-$)TQ)3D4M2$5)1TA4.B`Q+C(U M.R!415A4+4E.1$5.5#H@,'!T.R!$25-03$%9.B!B;&]C:SL@34%21TE.+4Q% M1E0Z(#!P=#L@34%21TE.+5))1TA4.B`P<'0G(&%L:6=N/3-$;&5F=#X-"B`@ M("`-"B`@("`@("`@("`@("`@/&9O;G0@6QE/3-$)V)A8VMG6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE M=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@ M#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D(&%L:6=N/3-$ M;&5F="!V86QI9VX],T1B;W1T;VT@=VED=&@],T0Q)3X-"B`-"B`@("`@("`@ M("`@(#QF;VYT('-T>6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U) M3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\ M+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@ M/'1D(&%L:6=N/3-$;&5F="!V86QI9VX],T1B;W1T;VT@=VED=&@],T0Q)3X- M"B`-"B`@("`@("`@("`@(#QF;VYT('-T>6QE/3-$)T1)4U!,05DZ(&EN;&EN M93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q M,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@ M#0H@("`@("`@("`@/'1D(&%L:6=N/3-$6QE/3-$)TQ)3D4M M2$5)1TA4.B`Q+C(U.R!415A4+4E.1$5.5#H@,'!T.R!$25-03$%9.B!B;&]C M:SL@34%21TE.+4Q%1E0Z(#!P=#L@34%21TE.+5))1TA4.B`P<'0G(&%L:6=N M/3-$:G5S=&EF>3X-"B`@#0H@("`@("`@("`@("`@(#QF;VYT('-T>6QE/3-$ M)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA M;CL@1D].5"U325I%.B`Q,'!T)SY.970-"B`-"B`@("`@("`@("`@("`@<')O M<&5R='D@86YD(&5Q=6EP;65N=#PO9F]N=#X-"B`@("`@#0H@("`@("`@("`@ M("`\+V1I=CX-"B`@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@ M("`@/'1D(&%L:6=N/3-$"<^#0H@("`@(`T*("`@ M("`@("`@("`@/&9O;G0@6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#1P>"!D;W5B;&4G M/@T*(`T*("`@("`@("`@("`@/&1I=B!S='EL93TS1"=,24Y%+4A%24=(5#H@ M,2XR-3L@5$585"U)3D1%3E0Z(#!P=#L@1$E34$Q!63H@8FQO8VL[($U!4D=) M3BU,1494.B`P<'0[($U!4D=)3BU224=(5#H@,'!T)R!A;&EG;CTS1&QE9G0^ M#0H@("`@#0H@("`@("`@("`@("`@(#QF;VYT('-T>6QE/3-$)T1)4U!,05DZ M(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U3 M25I%.B`Q,'!T)SXF;F)S<#LD/"]F;VYT/@T*("`-"B`@("`@("`@("`@(#PO M9&EV/@T*("`@("`-"B`@("`@("`@("`\+W1D/@T*("`-"B`@("`@("`@("`\ M=&0@86QI9VX],T1R:6=H="!V86QI9VX],T1B;W1T;VT@=VED=&@],T0Q,24@ M6QE/3-$)T1)4U!,05DZ M(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U3 M25I%.B`Q,'!T)SXX-CD\+V9O;G0^#0H@("`@#0H@("`@("`@("`@("`\+V1I M=CX-"B`@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D M(&%L:6=N/3-$;&5F="!V86QI9VX],T1B;W1T;VT@=VED=&@],T0Q)2!S='EL M93TS1"=0041$24Y'+4)/5%1/33H@-'!X)SX-"B`@("`-"B`@("`@("`@("`@ M(#QF;VYT('-T>6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ M('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O M;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D M(&%L:6=N/3-$"<^#0H@("`@(`T*("`@("`@("`@ M("`@/&9O;G0@6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#1P>"!D;W5B;&4G/@T*(`T* M("`@("`@("`@("`@/&1I=B!S='EL93TS1"=,24Y%+4A%24=(5#H@,2XR-3L@ M5$585"U)3D1%3E0Z(#!P=#L@1$E34$Q!63H@8FQO8VL[($U!4D=)3BU,1494 M.B`P<'0[($U!4D=)3BU224=(5#H@,'!T)R!A;&EG;CTS1&QE9G0^#0H@("`@ M#0H@("`@("`@("`@("`@(#QF;VYT('-T>6QE/3-$)T1)4U!,05DZ(&EN;&EN M93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q M,'!T)SXF;F)S<#LD/"]F;VYT/@T*("`-"B`@("`@("`@("`@(#PO9&EV/@T* M("`@("`-"B`@("`@("`@("`\+W1D/@T*("`-"B`@("`@("`@("`\=&0@86QI M9VX],T1R:6=H="!V86QI9VX],T1B;W1T;VT@=VED=&@],T0Q,24@6QE/3-$)T1)4U!,05DZ(&EN;&EN M93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q M,'!T)SXY,#4\+V9O;G0^#0H@("`@#0H@("`@("`@("`@("`\+V1I=CX-"B`@ M("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D(&%L:6=N M/3-$;&5F="!V86QI9VX],T1B;W1T;VT@=VED=&@],T0Q)2!S='EL93TS1"=0 M041$24Y'+4)/5%1/33H@-'!X)SX-"B`@("`-"B`@("`@("`@("`@(#QF;VYT M('-T>6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S M(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@ M("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@(#PO='(^#0H@("`@ M(`T*("`@("`@/"]T86)L93X\8G(O/CQD:78@3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R=%\W,F$Q M,#!A85\R.6-A7S1A969?83`X,5\R8V0Q-S$S,V,Y-V8-"D-O;G1E;G0M3&]C M871I;VXZ(&9I;&4Z+R\O0SHO-S)A,3`P86%?,CEC85\T865F7V$P.#%?,F-D M,3'0O:'1M;#L@8VAA'0@0FQO8VM=/"]T M9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\9&EV('-T>6QE/3-$)U1% M6%0M04Q)1TXZ(&QE9G0[($Q)3D4M2$5)1TA4.B`Q+C(U.R!415A4+4E.1$5. M5#H@,'!T.R!$25-03$%9.B!B;&]C:SL@34%21TE.+4Q%1E0Z(#!P=#L@34%2 M1TE.+5))1TA4.B`P<'0G/@T*("`@#0H@("`@("`@(#QF;VYT('-T>6QE/3-$ M)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ(%1I;65S($YE=R!2;VUA M;CL@1D].5"U325I%.B`Q,'!T.R!&3TY4+5=%24=(5#H@8F]L9"<^3F]T90T* M("`@("`-"B`@("`@("`@-"`M($9!25(@5D%,544@345!4U5214U%3E13/"]F M;VYT/@T*("`@(`T*("`@("`@/"]D:78^/&)R+SX\9&EV('-T>6QE/3-$)TQ) M3D4M2$5)1TA4.B`Q+C(U.R!415A4+4E.1$5.5#H@,'!T.R!$25-03$%9.B!B M;&]C:SL@34%21TE.+4Q%1E0Z(#!P=#L@34%21TE.+5))1TA4.B`P<'0G(&%L M:6=N/3-$:G5S=&EF>3X-"B`@("`-"B`@("`@(#QF;VYT('-T>6QE/3-$)T1) M4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ(%1I;65S($YE=R!2;VUA;CL@ M1D].5"U325I%.B`Q,'!T)SY4:&4-"B`@(`T*("`@("`@0V]M<&%N>2!E6%B;&4L(&%N9"!O=&AE&EM871E('1H96ER(')E<&]R=&5D(&-A6QE/3-$)U!!1$1) M3D6QE/3-$)U!!1$1)3D6QE/3-$)U!!1$1)3D6QE/3-$)U!!1$1)3D6QE/3-$)U!!1$1)3D6QE/3-$)U!!1$1)3D6QE/3-$)U!!1$1)3D"<^#0H@("`-"B`@("`@("`@("`@(#QF M;VYT('-T>6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I M;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^ M#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D(&%L M:6=N/3-$;&5F="!V86QI9VX],T1B;W1T;VT@"<^#0H@("`-"B`@("`@("`@("`@(#QF;VYT('-T>6QE/3-$ M)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA M;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@ M("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D(&-O;'-P86X],T0R('9A M;&EG;CTS1&)O='1O;2!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`R M<'@@6QE/3-$)TQ) M3D4M2$5)1TA4.B`Q+C(U.R!415A4+4E.1$5.5#H@,'!T.R!$25-03$%9.B!B M;&]C:SL@34%21TE.+4Q%1E0Z(#!P=#L@34%21TE.+5))1TA4.B`P<'0G(&%L M:6=N/3-$8V5N=&5R/@T*(`T*("`@("`@("`@("`@("`\9F]N="!S='EL93TS M1"=$25-03$%9.B!I;FQI;F4[($9/3E0M1D%-24Q9.B!T:6UE6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I M;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SY&86ER#0H@(`T*("`@ M("`@("`@("`@("!V86QU93PO9F]N=#X-"B`@(`T*("`@("`@("`@("`@/"]D M:78^#0H@("`@(`T*("`@("`@("`@(#PO=&0^#0H@(`T*("`@("`@("`@(#QT M9"!A;&EG;CTS1&QE9G0@=F%L:6=N/3-$8F]T=&]M('-T>6QE/3-$)U!!1$1) M3D6QE/3-$)U!!1$1)3D"<^#0H@("`-"B`@("`@("`@("`@ M(#QF;VYT('-T>6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ M('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O M;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D M(&%L:6=N/3-$;&5F="!V86QI9VX],T1B;W1T;VT@"<^#0H@("`-"B`@("`@("`@("`@(#QF;VYT('-T>6QE M/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R M;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@ M("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D(&-O;'-P86X],T0R M('9A;&EG;CTS1&)O='1O;2!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C M:R`R<'@@6QE/3-$ M)TQ)3D4M2$5)1TA4.B`Q+C(U.R!415A4+4E.1$5.5#H@,'!T.R!$25-03$%9 M.B!B;&]C:SL@34%21TE.+4Q%1E0Z(#!P=#L@34%21TE.+5))1TA4.B`P<'0G M(&%L:6=N/3-$8V5N=&5R/@T*(`T*("`@("`@("`@("`@("`\9F]N="!S='EL M93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M1D%-24Q9.B!T:6UE6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ M('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SY&86ER#0H@(`T* M("`@("`@("`@("`@("!V86QU93PO9F]N=#X-"B`@(`T*("`@("`@("`@("`@ M/"]D:78^#0H@("`@(`T*("`@("`@("`@(#PO=&0^#0H@(`T*("`@("`@("`@ M(#QT9"!A;&EG;CTS1&QE9G0@=F%L:6=N/3-$8F]T=&]M('-T>6QE/3-$)U!! M1$1)3D6QE/3-$)V)A8VMG6QE/3-$ M)TQ)3D4M2$5)1TA4.B`Q+C(U.R!415A4+4E.1$5.5#H@,'!T.R!$25-03$%9 M.B!B;&]C:SL@34%21TE.+4Q%1E0Z(#!P=#L@34%21TE.+5))1TA4.B`P<'0G M(&%L:6=N/3-$;&5F=#X-"B`@("`-"B`@("`@("`@("`@("`@/&9O;G0@6QE/3-$)T1)4U!, M05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D]. M5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@ M/"]T9#X-"B`@#0H@("`@("`@("`@/'1D(&%L:6=N/3-$;&5F="!V86QI9VX] M,T1B;W1T;VT^#0H@("`@(`T*("`@("`@("`@("`@/&9O;G0@6QE/3-$)TQ) M3D4M2$5)1TA4.B`Q+C(U.R!415A4+4E.1$5.5#H@,'!T.R!$25-03$%9.B!B M;&]C:SL@34%21TE.+4Q%1E0Z(#!P=#L@34%21TE.+5))1TA4.B`P<'0G(&%L M:6=N/3-$;&5F=#X-"B`@("`-"B`@("`@("`@("`@("`@/&9O;G0@6QE/3-$)T1)4U!,05DZ(&EN;&EN M93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q M,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@ M#0H@("`@("`@("`@/'1D('9A;&EG;CTS1&)O='1O;2!W:61T:#TS1#$E/@T* M("`@#0H@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI M;F4[($9/3E0M1D%-24Q9.B!T:6UE6QE/3-$)TQ) M3D4M2$5)1TA4.B`Q+C(U.R!415A4+4E.1$5.5#H@,'!T.R!$25-03$%9.B!B M;&]C:SL@34%21TE.+4Q%1E0Z(#!P=#L@34%21TE.+5))1TA4.B`P<'0G(&%L M:6=N/3-$;&5F=#X-"B`@("`-"B`@("`@("`@("`@("`@/&9O;G0@6QE/3-$)TQ)3D4M2$5)1TA4.B`Q+C(U.R!415A4 M+4E.1$5.5#H@,'!T.R!$25-03$%9.B!B;&]C:SL@34%21TE.+4Q%1E0Z(#!P M=#L@34%21TE.+5))1TA4.B`P<'0G(&%L:6=N/3-$;&5F=#X-"B`@("`-"B`@ M("`@("`@("`@("`@/&9O;G0@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U& M04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V M,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@ M("`@/'1D(&%L:6=N/3-$6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE M=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF;F)S<#LD/"]F;VYT/@T*("`- M"B`@("`@("`@("`@(#PO9&EV/@T*("`@("`-"B`@("`@("`@("`\+W1D/@T* M("`-"B`@("`@("`@("`\=&0@86QI9VX],T1R:6=H="!V86QI9VX],T1B;W1T M;VT@=VED=&@],T0Q,24^#0H@("`-"B`@("`@("`@("`@(#QD:78@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S M(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXS-"PR-3<\+V9O;G0^#0H@ M(`T*("`@("`@("`@("`@/"]D:78^#0H@("`@(`T*("`@("`@("`@(#PO=&0^ M#0H@(`T*("`@("`@("`@(#QT9"!A;&EG;CTS1&QE9G0@=F%L:6=N/3-$8F]T M=&]M('=I9'1H/3-$,24^#0H@#0H@("`@("`@("`@("`\9F]N="!S='EL93TS M1"=$25-03$%9.B!I;FQI;F4[($9/3E0M1D%-24Q9.B!T:6UE6QE/3-$)V)A8VMG6QE/3-$)T1)4U!,05DZ(&EN M;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I% M.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X- M"B`@#0H@("`@("`@("`@/'1D('9A;&EG;CTS1&)O='1O;2!W:61T:#TS1#$E M/@T*("`@#0H@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I M;FQI;F4[($9/3E0M1D%-24Q9.B!T:6UE6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE M=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@ M#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D(&%L:6=N/3-$ M;&5F="!V86QI9VX],T1B;W1T;VT@=VED=&@],T0Q)3X-"B`-"B`@("`@("`@ M("`@(#QF;VYT('-T>6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U) M3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\ M+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@(#PO M='(^#0H@("`@(`T*("`@("`@("`\='(@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U) M3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\ M+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@ M/'1D('9A;&EG;CTS1&)O='1O;2!W:61T:#TS1#$E/@T*("`@#0H@("`@("`@ M("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M1D%- M24Q9.B!T:6UE6QE/3-$)T1)4U!,05DZ(&EN;&EN M93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q M,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@ M#0H@("`@("`@("`@/'1D(&%L:6=N/3-$;&5F="!V86QI9VX],T1B;W1T;VT@ M=VED=&@],T0Q)3X-"B`-"B`@("`@("`@("`@(#QF;VYT('-T>6QE/3-$)T1) M4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@ M1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@ M("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D(&%L:6=N/3-$;&5F="!V86QI M9VX],T1B;W1T;VT@=VED=&@],T0Q)3X-"B`-"B`@("`@("`@("`@(#QF;VYT M('-T>6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S M(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@ M("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D(&%L:6=N M/3-$;&5F="!V86QI9VX],T1B;W1T;VT@=VED=&@],T0Q)3X-"B`-"B`@("`@ M("`@("`@(#QF;VYT('-T>6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U& M04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V M,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@ M("`@/'1D(&%L:6=N/3-$6QE/3-$)V)A8VMG6QE M/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R M;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF;F)S<#LD/"]F;VYT/@T*("`-"B`@ M("`@("`@("`@(#PO9&EV/@T*("`@("`-"B`@("`@("`@("`\+W1D/@T*("`- M"B`@("`@("`@("`\=&0@86QI9VX],T1R:6=H="!V86QI9VX],T1B;W1T;VT@ M=VED=&@],T0Q,24^#0H@("`-"B`@("`@("`@("`@(#QD:78@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE M=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXU-#`L-S4R/"]F;VYT/@T*("`@ M#0H@("`@("`@("`@("`\+V1I=CX-"B`@("`@#0H@("`@("`@("`@/"]T9#X- M"B`@#0H@("`@("`@("`@/'1D('9A;&EG;CTS1&)O='1O;2!W:61T:#TS1#$E M/@T*("`@#0H@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I M;FQI;F4[($9/3E0M1D%-24Q9.B!T:6UE6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE M=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF;F)S<#LD/"]F;VYT/@T*("`- M"B`@("`@("`@("`@(#PO9&EV/@T*("`@("`-"B`@("`@("`@("`\+W1D/@T* M("`-"B`@("`@("`@("`\=&0@86QI9VX],T1R:6=H="!V86QI9VX],T1B;W1T M;VT@=VED=&@],T0Q,24^#0H@("`-"B`@("`@("`@("`@(#QD:78@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S M(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXU-#`L-S4R/"]F;VYT/@T* M("`@#0H@("`@("`@("`@("`\+V1I=CX-"B`@("`@#0H@("`@("`@("`@/"]T M9#X-"B`@#0H@("`@("`@("`@/'1D(&%L:6=N/3-$;&5F="!V86QI9VX],T1B M;W1T;VT@=VED=&@],T0Q)3X-"B`-"B`@("`@("`@("`@(#QF;VYT('-T>6QE M/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R M;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@ M("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D(&%L:6=N/3-$6QE/3-$)T1)4U!,05DZ(&EN M;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I% M.B`Q,'!T)SXF;F)S<#LD/"]F;VYT/@T*("`-"B`@("`@("`@("`@(#PO9&EV M/@T*("`@("`-"B`@("`@("`@("`\+W1D/@T*("`-"B`@("`@("`@("`\=&0@ M86QI9VX],T1R:6=H="!V86QI9VX],T1B;W1T;VT@=VED=&@],T0Q,24^#0H@ M("`-"B`@("`@("`@("`@(#QD:78@6QE/3-$)T1)4U!,05DZ M(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U3 M25I%.B`Q,'!T)SXS-C6QE/3-$)T1)4U!,05DZ(&EN;&EN M93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q M,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@ M#0H@("`@("`@("`@/'1D(&%L:6=N/3-$6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ M('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF;F)S<#LD/"]F M;VYT/@T*("`-"B`@("`@("`@("`@(#PO9&EV/@T*("`@("`-"B`@("`@("`@ M("`\+W1D/@T*("`-"B`@("`@("`@("`\=&0@86QI9VX],T1R:6=H="!V86QI M9VX],T1B;W1T;VT@=VED=&@],T0Q,24^#0H@("`-"B`@("`@("`@("`@(#QD M:78@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U) M3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXS-C6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I M;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^ M#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@(#PO='(^#0H@ M("`@(`T*("`@("`@("`\='(@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U& M04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V M,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@ M("`@/'1D(&%L:6=N/3-$6QE/3-$)TQ)3D4M2$5) M1TA4.B`Q+C(U.R!415A4+4E.1$5.5#H@,'!T.R!$25-03$%9.B!B;&]C:SL@ M34%21TE.+4Q%1E0Z(#!P=#L@34%21TE.+5))1TA4.B`P<'0G(&%L:6=N/3-$ M6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE M=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXQ.#6QE/3-$)T1)4U!,05DZ M(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U3 M25I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T M9#X-"B`@#0H@("`@("`@("`@/'1D(&%L:6=N/3-$6QE/3-$)TQ)3D4M2$5)1TA4.B`Q+C(U.R!415A4+4E.1$5.5#H@,'!T.R!$ M25-03$%9.B!B;&]C:SL@34%21TE.+4Q%1E0Z(#!P=#L@34%21TE.+5))1TA4 M.B`P<'0G(&%L:6=N/3-$6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U& M04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V M,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@ M("`@/'1D(&%L:6=N/3-$;&5F="!V86QI9VX],T1B;W1T;VT@=VED=&@],T0Q M)3X-"B`-"B`@("`@("`@("`@(#QF;VYT('-T>6QE/3-$)T1)4U!,05DZ(&EN M;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I% M.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X- M"B`@#0H@("`@("`@("`@/'1D(&%L:6=N/3-$6QE M/3-$)TQ)3D4M2$5)1TA4.B`Q+C(U.R!415A4+4E.1$5.5#H@,'!T.R!$25-0 M3$%9.B!B;&]C:SL@34%21TE.+4Q%1E0Z(#!P=#L@34%21TE.+5))1TA4.B`P M<'0G(&%L:6=N/3-$6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U) M3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\ M+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@ M/'1D(&%L:6=N/3-$;&5F="!V86QI9VX],T1B;W1T;VT@=VED=&@],T0Q)3X- M"B`-"B`@("`@("`@("`@(#QF;VYT('-T>6QE/3-$)T1)4U!,05DZ(&EN;&EN M93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q M,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@ M#0H@("`@("`@("`@/'1D(&%L:6=N/3-$6QE/3-$ M)TQ)3D4M2$5)1TA4.B`Q+C(U.R!415A4+4E.1$5.5#H@,'!T.R!$25-03$%9 M.B!B;&]C:SL@34%21TE.+4Q%1E0Z(#!P=#L@34%21TE.+5))1TA4.B`P<'0G M(&%L:6=N/3-$6QE/3-$)TQ)3D4M2$5)1TA4.B`Q+C(U M.R!415A4+4E.1$5.5#H@,'!T.R!$25-03$%9.B!B;&]C:SL@34%21TE.+4Q% M1E0Z(#!P=#L@34%21TE.+5))1TA4.B`P<'0G(&%L:6=N/3-$:G5S=&EF>3X- M"B`-"B`@("`@(#QF;VYT('-T>6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D]. M5"U&04U)3%DZ(%1I;65S($YE=R!2;VUA;CL@1D].5"U325I%.B`Q,'!T)SY4 M:&4-"B`@(`T*("`@("`@9F%I0T*("`@(`T*("`@("`@=')A;G-A8W1I;VX@8F5T M=V5E;B!M87)K970@<&%R=&EC:7!A;G1S(&%T('1H870-"B`@("`-"B`@("`@ M(&1A=&4N)B,Q-C`[)B,Q-C`[5&AO2P@;6%R:V5T(&%C=&EV:71Y M(&9O2!R:7-K+6%D:G5S M=&5D#0H@("`-"B`@("`@(&1I'0O:F%V M87-C3X-"B`@("`\=&%B M;&4@8VQA6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ(%1I;65S($YE M=R!2;VUA;CL@1D].5"U325I%.B`Q,'!T.R!&3TY4+5=%24=(5#H@8F]L9"<^ M3F]T90T*("`@#0H@("`@("`U("T@4TA/4E0M5$5232!"3U)23U=)3D=3/"]F M;VYT/@T*("`@("`-"B`@("`\+V1I=CX\8G(O/CQD:78@"<^#0H@(`T*("`@("`@("`@("`@/&9O;G0@"<^#0H@#0H@("`@("`@ M("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M1D%- M24Q9.B!T:6UE6QE/3-$)TQ)3D4M2$5)1TA4.B`Q M+C(U.R!415A4+4E.1$5.5#H@+3EP=#L@1$E34$Q!63H@8FQO8VL[($U!4D=) M3BU,1494.B`P<'0[($U!4D=)3BU224=(5#H@,'!T)R!A;&EG;CTS1&-E;G1E M6QE/3-$)T1)4U!,05DZ M(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U3 M25I%.B`Q,'!T)SY*=6YE#0H@(`T*("`@("`@("`@("`@("`S,"P@,C`Q,3PO M9F]N=#X-"B`-"B`@("`@("`@("`@(#PO9&EV/@T*("`@("`-"B`@("`@("`@ M("`\+W1D/@T*("`-"B`@("`@("`@("`\=&0@;F]W6QE/3-$)U1%6%0M04Q)1TXZ M(&QE9G0[(%!!1$1)3D6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U) M3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\ M+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@ M/'1D('9A;&EG;CTS1&)O='1O;2!W:61T:#TS1#$E('-T>6QE/3-$)U!!1$1) M3D6QE/3-$)T)/4D1%4BU" M3U143TTZ(&)L86-K(#)P>"!S;VQI9"<^#0H@("`@(`T*("`@("`@("`@("`@ M/&1I=B!S='EL93TS1"=,24Y%+4A%24=(5#H@,2XR-3L@5$585"U)3D1%3E0Z M("TY<'0[($1)4U!,05DZ(&)L;V-K.R!-05)'24XM3$5&5#H@,'!T.R!-05)' M24XM4DE'2%0Z(#!P="<@86QI9VX],T1C96YT97(^#0H@(`T*("`@("`@("`@ M("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M1D%- M24Q9.B!T:6UE6QE/3-$)V)A8VMG6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%1%6%0M24Y$14Y4 M.B`P<'0[($U!4D=)3BU,1494.B`P<'0[($U!4D=)3BU224=(5#H@,'!T)SX- M"B`@("`-"B`@("`@("`@("`@(#QD:78@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D]. M5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF M(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@ M("`@("`@/'1D('9A;&EG;CTS1&)O='1O;2!W:61T:#TS1#$E('-T>6QE/3-$ M)U1%6%0M04Q)1TXZ(&QE9G0G/@T*("`@#0H@("`@("`@("`@("`\9F]N="!S M='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M1D%-24Q9.B!T:6UE6QE/3-$)T1) M4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@ M1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@ M("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D(&%L:6=N/3-$6QE/3-$)T1)4U!, M05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D]. M5"U325I%.B`Q,'!T)SXF;F)S<#LD/"]F;VYT/@T*("`@("`-"B`@("`@("`@ M("`\+W1D/@T*("`-"B`@("`@("`@("`\=&0@=F%L:6=N/3-$8F]T=&]M('=I M9'1H/3-$,3$E('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SX-"B`@("`@ M#0H@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[ M($9/3E0M1D%-24Q9.B!T:6UE6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G M/@T*("`@(`T*("`@("`@("`@("`@/&9O;G0@6QE/3-$)U1% M6%0M04Q)1TXZ(&QE9G0[(%1%6%0M24Y$14Y4.B`P<'0[($U!4D=)3BU,1494 M.B`P<'0[($U!4D=)3BU224=(5#H@,'!T)SX-"B`@("`-"B`@("`@("`@("`@ M(#QF;VYT('-T>6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ M('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O M;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D M(&%L:6=N/3-$6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I M;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^ M#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D('9A M;&EG;CTS1&)O='1O;2!W:61T:#TS1#$Q)2!S='EL93TS1"=415A4+4%,24=. M.B!R:6=H="<^#0H@("`@(`T*("`@("`@("`@("`@/&9O;G0@6QE/3-$)U1%6%0M04Q) M1TXZ(&QE9G0G/@T*("`@(`T*("`@("`@("`@("`@/&9O;G0@6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SX-"B`@("`@ M#0H@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[ M($9/3E0M1D%-24Q9.B!T:6UE6QE/3-$)V)A M8VMG6%B M;&4@=&\@86X@=6YR96QA=&5D('!A2!O9F9I8V5R#0H@("`@#0H@("`@("`@("`@ M("`@(&]F('1H92!#;VUP86YY(&%N9"!D=64@;VX@9&5M86YD+CPO9F]N=#X- M"B`-"B`@("`@("`@("`@(#PO9&EV/@T*("`@("`-"B`@("`@("`@("`\+W1D M/@T*("`-"B`@("`@("`@("`\=&0@86QI9VX],T1R:6=H="!V86QI9VX],T1B M;W1T;VT@=VED=&@],T0S)3X-"B`@#0H@("`@("`@("`@("`\9F]N="!S='EL M93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M1D%-24Q9.B!T:6UE6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SX-"B`@("`@#0H@("`@("`@ M("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M1D%- M24Q9.B!T:6UE6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/@T*("`@(`T*("`@("`@ M("`@("`@/&9O;G0@6QE/3-$)U1%6%0M M04Q)1TXZ(')I9VAT)SX-"B`@("`@#0H@("`@("`@("`@("`\9F]N="!S='EL M93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M1D%-24Q9.B!T:6UE6QE/3-$)U1% M6%0M04Q)1TXZ(&QE9G0G/@T*("`@(`T*("`@("`@("`@("`@/&9O;G0@6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SX-"B`@("`@#0H@("`@ M("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M M1D%-24Q9.B!T:6UE6QE/3-$)T1)4U!,05DZ M(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U3 M25I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T M9#X-"B`@#0H@("`@("`@("`@/'1D('9A;&EG;CTS1&)O='1O;2!W:61T:#TS M1#$E('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/@T*("`@#0H@("`@("`@ M("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M1D%- M24Q9.B!T:6UE6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE M=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@ M#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D(&YO=W)A<#TS M1&YO=W)A<"!V86QI9VX],T1B;W1T;VT@=VED=&@],T0Q)2!S='EL93TS1"=4 M15A4+4%,24=..B!L969T)SX-"B`@("`-"B`@("`@("`@("`@(#QF;VYT('-T M>6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE M=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@ M#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@(#PO='(^#0H@("`@(`T* M("`@("`@("`\='(@"<^#0H@(`T* M("`@("`@("`@("`@/&1I=B!S='EL93TS1"=,24Y%+4A%24=(5#H@,2XR-3L@ M5$585"U)3D1%3E0Z("TQ,'!T.R!$25-03$%9.B!B;&]C:SL@34%21TE.+4Q% M1E0Z(#$P<'0G/@T*("`@("`-"B`@("`@("`@("`@("`@/&9O;G0@6%B;&4@=&\@86X@=6YR96QA=&5D('!A2!O9F9I8V5R#0H@("`@#0H@("`@ M("`@("`@("`@(&]F('1H92!#;VUP86YY(&%N9"!M871U6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@ M1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T M)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@ M("`@("`@("`@/'1D('9A;&EG;CTS1&)O='1O;2!W:61T:#TS1#$Q)2!S='EL M93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`R<'@@6QE/3-$)U1%6%0M04Q) M1TXZ(&QE9G0[(%!!1$1)3D6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U& M04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V M,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@ M("`@/'1D(&%L:6=N/3-$"<^#0H@("`@(`T*("`@ M("`@("`@("`@/&9O;G0@6QE M/3-$)V)A8VMG"<^#0H@(`T*("`@("`@("`@("`@/&9O;G0@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D]. M5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF M(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@ M("`@("`@/'1D('9A;&EG;CTS1&)O='1O;2!W:61T:#TS1#$Q)2!S='EL93TS M1"="3U)$15(M0D]45$]-.B!B;&%C:R`R<'@@"<^#0H@("`@(`T*("`@("`@("`@ M("`@/&9O;G0@6QE/3-$)T1)4U!,05DZ M(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U3 M25I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T M9#X-"B`@#0H@("`@("`@("`@/'1D('9A;&EG;CTS1&)O='1O;2!W:61T:#TS M1#$Q)2!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`R<'@@"<^#0H@("`@ M(`T*("`@("`@("`@("`@/&9O;G0@6QE M/3-$)TQ)3D4M2$5)1TA4.B`Q+C(U.R!415A4+4E.1$5.5#H@,'!T.R!$25-0 M3$%9.B!B;&]C:SL@34%21TE.+4Q%1E0Z(#!P=#L@34%21TE.+5))1TA4.B`S M<'0G(&%L:6=N/3-$:G5S=&EF>3X-"B`@#0H@("`@("`@("`@("`@(#QF;VYT M('-T>6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S M(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SY4;W1A;`T*("`@#0H@("`@ M("`@("`@("`@('-H;W)T+71E6QE M/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R M;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF;F)S<#LD/"]F;VYT/@T*("`@("`- M"B`@("`@("`@("`\+W1D/@T*("`-"B`@("`@("`@("`\=&0@=F%L:6=N/3-$ M8F]T=&]M('=I9'1H/3-$,3$E('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L M86-K(#1P>"!D;W5B;&4[(%1%6%0M04Q)1TXZ(')I9VAT)SX-"B`@(`T*("`@ M("`@("`@("`@/&9O;G0@6QE/3-$)U!!1$1)3D6QE/3-$ M)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA M;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@ M("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D('9A;&EG;CTS1&)O='1O M;2!W:61T:#TS1#$E('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#1P M>"!D;W5B;&4[(%1%6%0M04Q)1TXZ(&QE9G0G/@T*(`T*("`@("`@("`@("`@ M/&9O;G0@6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%!! M1$1)3D6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S M(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@ M("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@(#PO='(^#0H@("`@ M(`T*("`@("`@/"]T86)L93X\8G(O/CQS<&%N/CPO7!E.B!T97AT+VAT;6P[(&-H87)S970] M(G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@:'1T M<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@ M8VAA'0^/&1I=B!S='EL93TS1"=415A4+4%, M24=..B!L969T.R!,24Y%+4A%24=(5#H@,2XR-3L@5$585"U)3D1%3E0Z(#!P M=#L@1$E34$Q!63H@8FQO8VL[($U!4D=)3BU,1494.B`P<'0[($U!4D=)3BU2 M24=(5#H@,'!T)SX-"B`@#0H@("`@("`@(#QF;VYT('-T>6QE/3-$)T1)4U!, M05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ(%1I;65S($YE=R!2;VUA;CL@1D]. M5"U325I%.B`Q,'!T.R!&3TY4+5=%24=(5#H@8F]L9"<^3F]T90T*("`@("`- M"B`@("`@("`@-B`M(%)%3$%4140@4$%25%D@5%)!3E-!0U1)3TY3/"]F;VYT M/@T*("`-"B`@("`@(#PO9&EV/CQB2!A9'9A;F-E28C.#(Q-SMS(&1I M3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R=%\W,F$Q,#!A M85\R.6-A7S1A969?83`X,5\R8V0Q-S$S,V,Y-V8-"D-O;G1E;G0M3&]C871I M;VXZ(&9I;&4Z+R\O0SHO-S)A,3`P86%?,CEC85\T865F7V$P.#%?,F-D,3'0O:'1M;#L@8VAA'0^/&1I=B!S='EL93TS1"=, M24Y%+4A%24=(5#H@,2XR-3L@5$585"U)3D1%3E0Z(#!P=#L@1$E34$Q!63H@ M8FQO8VL[($U!4D=)3BU,1494.B`P<'0[($U!4D=)3BU224=(5#H@,'!T)R!A M;&EG;CTS1&QE9G0^#0H@("`@#0H@("`@("`\9F]N="!S='EL93TS1"=$25-0 M3$%9.B!I;FQI;F4[($9/3E0M1D%-24Q9.B!4:6UE6QE/3-$)TQ)3D4M2$5) M1TA4.B`Q+C(U.R!415A4+4E.1$5.5#H@,'!T.R!$25-03$%9.B!B;&]C:SL@ M34%21TE.+4Q%1E0Z(#!P=#L@34%21TE.+5))1TA4.B`P<'0G(&%L:6=N/3-$ M:G5S=&EF>3X-"B`@#0H@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I M;FQI;F4[($9/3E0M1D%-24Q9.B!4:6UE2!$979E;&]P;65N="!#;VYT6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D]. M5"U&04U)3%DZ(%1I;65S($YE=R!2;VUA;CL@1D].5"U325I%.B`Q,'!T)SY4 M:&4-"B`@(`T*("`@("`@8V]N=')A8W1S('=I=&@@2T=)0R!W97)E(&-O;7!L M971E9"P@9FEN86QI>F5D(&%N9"!A<'!R;W9E9"!B>0T*("`@#0H@("`@("!+ M1TE#(&EN('1H92!L871T97(@<&%R="!O9B`R,#$P+B8C,38P.R8C,38P.U5N M9&5R('1H92!T97)M2!G86EN M960@9G)O;2!P97)F;W)M:6YG('1H92!P7!E.B!T97AT+VAT;6P[(&-H M87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@/&AE860^#0H@("`@/$U% M5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O M:'1M;#L@8VAA'0@0FQO8VM=/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\ M9&EV('-T>6QE/3-$)TQ)3D4M2$5)1TA4.B`Q+C(U.R!415A4+4E.1$5.5#H@ M,'!T.R!$25-03$%9.B!B;&]C:SL@34%21TE.+4Q%1E0Z(#!P=#L@34%21TE. M+5))1TA4.B`P<'0G(&%L:6=N/3-$;&5F=#X-"B`@("`@#0H@("`@("`\9F]N M="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M1D%-24Q9.B!4:6UE M6QE M/3-$)TQ)3D4M2$5)1TA4.B`Q+C(U.R!415A4+4E.1$5.5#H@,'!T.R!$25-0 M3$%9.B!B;&]C:SL@34%21TE.+4Q%1E0Z(#!P=#L@34%21TE.+5))1TA4.B`P M<'0G(&%L:6=N/3-$:G5S=&EF>3X-"B`@#0H@("`@("`\9F]N="!S='EL93TS M1"=$25-03$%9.B!I;FQI;F4[($9/3E0M1D%-24Q9.B!4:6UE6UE;G0@=7!O;B!T97)M:6YA=&EO;B!O9B!T:&5I<@T*("`-"B`@("`@ M(&5M<&QO>6UE;G0@8F%S960@;VX@=&AE:7(@;&5N9W1H(&]F('-E2X\+V9O;G0^#0H@("`@(`T*("`@(#PO M9&EV/CQB3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT M4&%R=%\W,F$Q,#!A85\R.6-A7S1A969?83`X,5\R8V0Q-S$S,V,Y-V8-"D-O M;G1E;G0M3&]C871I;VXZ(&9I;&4Z+R\O0SHO-S)A,3`P86%?,CEC85\T865F M7V$P.#%?,F-D,3'0O:'1M;#L@8VAA7!E(&-O;G1E;G0],T0G=&5X="]H=&UL.R!C:&%R6QE/3-$ M)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ(%1I;65S($YE=R!2;VUA M;CL@1D].5"U325I%.B`Q,'!T.R!&3TY4+5=%24=(5#H@8F]L9"<^3F]T90T* M("`@#0H@("`@("`Y("T@0T]-4%)%2$5.4TE6128C,38P.R8C,38P.TQ/4U,\ M+V9O;G0^#0H@#0H@("`@/"]D:78^/&)R+SX\9&EV('-T>6QE/3-$)TQ)3D4M M2$5)1TA4.B`Q+C(U.R!415A4+4E.1$5.5#H@,'!T.R!$25-03$%9.B!B;&]C M:SL@34%21TE.+4Q%1E0Z(#!P=#L@34%21TE.+5))1TA4.B`P<'0G(&%L:6=N M/3-$:G5S=&EF>3X-"B`@#0H@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9 M.B!I;FQI;F4[($9/3E0M1D%-24Q9.B!4:6UE"!M;VYT:',@96YD960@ M2G5N92`S,"P@,C`Q,2!A;F0@,C`Q,"P-"B`@("`@#0H@("`@("!R97-P96-T M:79E;'DZ/"]F;VYT/@T*("`@#0H@("`@/"]D:78^/&)R+SX\=&%B;&4@8V5L M;'!A9&1I;F<],T0P(&-E;&QS<&%C:6YG/3-$,"!W:61T:#TS1#$P,"4@"<^#0H@("`@(`T*("`@("`@("`@("`@/&9O;G0@"<^#0H@ M("`@#0H@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI M;F4[($9/3E0M1D%-24Q9.B!T:6UE6QE M/3-$)U1%6%0M04Q)1TXZ(&-E;G1E6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I M;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SY4:')E90T*("`@#0H@ M("`@("`@("`@("`@($UO;G1H"<^#0H@("`@ M#0H@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[ M($9/3E0M1D%-24Q9.B!T:6UE6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U) M3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\ M+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@ M/'1D(&-O;'-P86X],T0R('9A;&EG;CTS1&)O='1O;2!S='EL93TS1"="3U)$ M15(M0D]45$]-.B!B;&%C:R`R<'@@6QE/3-$)U1% M6%0M04Q)1TXZ(&-E;G1E6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE M=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SY*=6YE#0H@(`T*("`@("`@("`@ M("`@("`S,"P@,C`Q,#PO9F]N=#X-"B`-"B`@("`@("`@("`@(#PO9&EV/@T* M("`@("`-"B`@("`@("`@("`\+W1D/@T*("`-"B`@("`@("`@("`\=&0@;F]W M6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U& M04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V M,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@ M("`@/'1D(&%L:6=N/3-$6QE/3-$ M)U!!1$1)3D6QE/3-$)T)/4D1%4BU"3U14 M3TTZ(&)L86-K(#)P>"!S;VQI9#L@5$585"U!3$E'3CH@8V5N=&5R)SX-"B`@ M(`T*("`@("`@("`@("`@/&1I=B!S='EL93TS1"=415A4+4%,24=..B!C96YT M97([($Q)3D4M2$5)1TA4.B`Q+C(U.R!415A4+4E.1$5.5#H@,'!T.R!$25-0 M3$%9.B!B;&]C:SL@34%21TE.+4Q%1E0Z(#!P=#L@34%21TE.+5))1TA4.B`P M<'0G/@T*(`T*("`@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9 M.B!I;FQI;F4[($9/3E0M1D%-24Q9.B!T:6UE"<^#0H@("`@#0H@("`@("`@("`@("`\9F]N M="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M1D%-24Q9.B!T:6UE M6QE/3-$ M)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA M;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@ M("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D(&-O;'-P86X],T0R('9A M;&EG;CTS1&)O='1O;2!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`R M<'@@`T*(`T*("`@("`@("`@("`@("!-;VYT:',\+V9O;G0^#0H@("`@#0H@ M("`@("`@("`@("`\+V1I=CX-"B`@("`@#0H@("`@("`@("`@("`\9&EV('-T M>6QE/3-$)U1%6%0M04Q)1TXZ(&-E;G1E6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ M('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SY%;F1E9"8C,38P M.SPO9F]N=#X-"B`-"B`@("`@("`@("`@(#PO9&EV/@T*("`@("`-"B`@("`@ M("`@("`@(#QD:78@6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%!!1$1)3D6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE M=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SY.970-"B`-"B`@("`@("`@("`@ M("`@;&]S6QE M/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R M;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF;F)S<#LD/"]F;VYT/@T*("`@("`- M"B`@("`@("`@("`\+W1D/@T*("`-"B`@("`@("`@("`\=&0@=F%L:6=N/3-$ M8F]T=&]M('=I9'1H/3-$,3$E('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT M)SX-"B`@("`@#0H@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9 M.B!I;FQI;F4[($9/3E0M1D%-24Q9.B!T:6UE6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G M/@T*("`@(`T*("`@("`@("`@("`@/&9O;G0@6QE/3-$ M)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA M;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@ M("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D('9A;&EG;CTS1&)O='1O M;2!W:61T:#TS1#$E('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/@T*("`@ M#0H@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[ M($9/3E0M1D%-24Q9.B!T:6UE6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/@T*("`@(`T*("`@("`@("`@ M("`@/&9O;G0@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@ M1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T M)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@ M("`@("`@("`@/'1D('9A;&EG;CTS1&)O='1O;2!W:61T:#TS1#$E('-T>6QE M/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/@T*("`@#0H@("`@("`@("`@("`\9F]N M="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M1D%-24Q9.B!T:6UE M6QE/3-$)U1%6%0M04Q) M1TXZ(&QE9G0G/@T*("`@(`T*("`@("`@("`@("`@/&9O;G0@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S M(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@ M("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D('9A;&EG M;CTS1&)O='1O;2!W:61T:#TS1#$E('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE M9G0G/@T*("`@#0H@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9 M.B!I;FQI;F4[($9/3E0M1D%-24Q9.B!T:6UE6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/@T*("`@(`T* M("`@("`@("`@("`@/&9O;G0@6QE/3-$)V)A8VMG6QE/3-$)T1)4U!, M05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D]. M5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@ M/"]T9#X-"B`@#0H@("`@("`@("`@/'1D('9A;&EG;CTS1&)O='1O;2!W:61T M:#TS1#$Q)2!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^#0H@("`@(`T* M("`@("`@("`@("`@/&9O;G0@6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/@T*("`@(`T* M("`@("`@("`@("`@/&9O;G0@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@ M1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T M)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@ M("`@("`@("`@/'1D('9A;&EG;CTS1&)O='1O;2!W:61T:#TS1#$E('-T>6QE M/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/@T*("`@#0H@("`@("`@("`@("`\9F]N M="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M1D%-24Q9.B!T:6UE M6QE/3-$)T1) M4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@ M1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@ M("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!V M86QI9VX],T1B;W1T;VT@=VED=&@],T0Q)2!S='EL93TS1"=415A4+4%,24=. M.B!L969T)SX-"B`@("`-"B`@("`@("`@("`@(#QF;VYT('-T>6QE/3-$)T1) M4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@ M1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@ M("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D('9A;&EG;CTS1&)O='1O;2!W M:61T:#TS1#$E/@T*("`@#0H@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$ M25-03$%9.B!I;FQI;F4[($9/3E0M1D%-24Q9.B!T:6UE6QE M/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SX-"B`@("`@#0H@("`@("`@("`@("`\ M9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M1D%-24Q9.B!T M:6UE6QE/3-$)T1) M4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@ M1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@ M("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D('9A;&EG;CTS1&)O='1O;2!W M:61T:#TS1#$Q)2!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^#0H@("`@ M(`T*("`@("`@("`@("`@/&9O;G0@6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/@T*("`@ M(`T*("`@("`@("`@("`@/&9O;G0@6QE/3-$)T1)4U!,05DZ M(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U3 M25I%.B`Q,'!T)SY/=&AE<@T*("`@#0H@("`@("`@("`@("`@(&-O;7!R96AE M;G-I=F4@:6YC;VUE("AL;W-S*2P@;F5T(&]F('1A>#H\+V9O;G0^#0H@("`- M"B`@("`@("`@("`@(#PO9&EV/@T*("`@("`-"B`@("`@("`@("`\+W1D/@T* M("`-"B`@("`@("`@("`\=&0@=F%L:6=N/3-$8F]T=&]M('=I9'1H/3-$,24^ M#0H@("`-"B`@("`@("`@("`@(#QF;VYT('-T>6QE/3-$)T1)4U!,05DZ(&EN M;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I% M.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X- M"B`@#0H@("`@("`@("`@/'1D('9A;&EG;CTS1&)O='1O;2!W:61T:#TS1#$E M('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/@T*("`@#0H@("`@("`@("`@ M("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M1D%-24Q9 M.B!T:6UE6QE M/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R M;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@ M("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D(&YO=W)A<#TS1&YO M=W)A<"!V86QI9VX],T1B;W1T;VT@=VED=&@],T0Q)2!S='EL93TS1"=415A4 M+4%,24=..B!L969T)SX-"B`@("`-"B`@("`@("`@("`@(#QF;VYT('-T>6QE M/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R M;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@ M("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D('9A;&EG;CTS1&)O M='1O;2!W:61T:#TS1#$E/@T*("`@#0H@("`@("`@("`@("`\9F]N="!S='EL M93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M1D%-24Q9.B!T:6UE6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SX-"B`@("`@#0H@("`@("`@ M("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M1D%- M24Q9.B!T:6UE6QE M/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R M;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@ M("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D('9A;&EG;CTS1&)O M='1O;2!W:61T:#TS1#$Q)2!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^ M#0H@("`@(`T*("`@("`@("`@("`@/&9O;G0@6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G M/@T*("`@(`T*("`@("`@("`@("`@/&9O;G0@6QE/3-$)T1)4U!,05DZ M(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U3 M25I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T M9#X-"B`@#0H@("`@("`@("`@/'1D('9A;&EG;CTS1&)O='1O;2!W:61T:#TS M1#$E('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/@T*("`@#0H@("`@("`@ M("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M1D%- M24Q9.B!T:6UE6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE M=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@ M#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D(&YO=W)A<#TS M1&YO=W)A<"!V86QI9VX],T1B;W1T;VT@=VED=&@],T0Q)2!S='EL93TS1"=4 M15A4+4%,24=..B!L969T)SX-"B`@("`-"B`@("`@("`@("`@(#QF;VYT('-T M>6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE M=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@ M#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@(#PO='(^#0H@("`@(`T* M("`@("`@("`\='(@"<^#0H@("`@(`T*("`@("`@("`@("`@/&1I=B!S='EL93TS1"=,24Y%+4A% M24=(5#H@,2XR-3L@5$585"U)3D1%3E0Z(#!P=#L@1$E34$Q!63H@8FQO8VL[ M($U!4D=)3BU,1494.B`P<'0[($U!4D=)3BU224=(5#H@,'!T)R!A;&EG;CTS M1&QE9G0^#0H@("`@#0H@("`@("`@("`@("`@(#QF;VYT('-T>6QE/3-$)T1) M4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@ M1D].5"U325I%.B`Q,'!T)SXF(S$V,#LF(S$V,#LF(S$V,#LF(S$V,#LF(S$V M,#M&;W)E:6=N#0H@("`@(`T*("`@("`@("`@("`@("!C=7)R96YC>2!T"<^#0H@("`@(`T*("`@ M("`@("`@("`@/&9O;G0@"<^#0H@("`@ M(`T*("`@("`@("`@("`@/&9O;G0@6QE/3-$)U!!1$1)3D6QE/3-$)T1) M4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@ M1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@ M("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D('9A;&EG;CTS1&)O='1O;2!W M:61T:#TS1#$E('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#)P>"!S M;VQI9#L@5$585"U!3$E'3CH@;&5F="<^#0H@("`@(`T*("`@("`@("`@("`@ M/&9O;G0@6QE/3-$)T)/4D1%4BU" M3U143TTZ(&)L86-K(#)P>"!S;VQI9#L@5$585"U!3$E'3CH@6QE/3-$)T1)4U!,05DZ(&EN;&EN M93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q M,'!T)SXH,3`R+#0R,3PO9F]N=#X-"B`@#0H@("`@("`@("`@/"]T9#X-"B`@ M#0H@("`@("`@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!V86QI9VX],T1B;W1T M;VT@=VED=&@],T0Q)2!S='EL93TS1"=415A4+4%,24=..B!L969T.R!0041$ M24Y'+4)/5%1/33H@,G!X)SX-"B`@("`@#0H@("`@("`@("`@("`\9F]N="!S M='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M1D%-24Q9.B!T:6UE"<^#0H@("`@(`T*("`@("`@("`@("`@/&9O;G0@6QE/3-$)V)A8VMG6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S M(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@ M("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D('9A;&EG M;CTS1&)O='1O;2!W:61T:#TS1#$E('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE M9G0G/@T*("`@#0H@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9 M.B!I;FQI;F4[($9/3E0M1D%-24Q9.B!T:6UE6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D]. M5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF M(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@ M("`@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!V86QI9VX],T1B;W1T;VT@=VED M=&@],T0Q)2!S='EL93TS1"=415A4+4%,24=..B!L969T)SX-"B`@("`-"B`@ M("`@("`@("`@(#QF;VYT('-T>6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D]. M5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF M(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@ M("`@("`@/'1D('9A;&EG;CTS1&)O='1O;2!W:61T:#TS1#$E/@T*("`@#0H@ M("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/ M3E0M1D%-24Q9.B!T:6UE6QE/3-$)U1%6%0M04Q)1TXZ(')I M9VAT)SX-"B`@("`@#0H@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-0 M3$%9.B!I;FQI;F4[($9/3E0M1D%-24Q9.B!T:6UE6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D]. M5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF M(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@ M("`@("`@/'1D('9A;&EG;CTS1&)O='1O;2!W:61T:#TS1#$Q)2!S='EL93TS M1"=415A4+4%,24=..B!R:6=H="<^#0H@("`@(`T*("`@("`@("`@("`@/&9O M;G0@6QE M/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/@T*("`@(`T*("`@("`@("`@("`@/&9O M;G0@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I M;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^ M#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D('9A M;&EG;CTS1&)O='1O;2!W:61T:#TS1#$E('-T>6QE/3-$)U1%6%0M04Q)1TXZ M(&QE9G0G/@T*("`@#0H@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-0 M3$%9.B!I;FQI;F4[($9/3E0M1D%-24Q9.B!T:6UE6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@ M1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T M)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@ M("`@("`@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!V86QI9VX],T1B;W1T;VT@ M=VED=&@],T0Q)2!S='EL93TS1"=415A4+4%,24=..B!L969T)SX-"B`@("`- M"B`@("`@("`@("`@(#QF;VYT('-T>6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@ M1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T M)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@ M("`@("`@(#PO='(^#0H@("`@(`T*("`@("`@("`\='(@"<^#0H@("`@(`T*("`@("`@("`@("`@ M/&1I=B!S='EL93TS1"=,24Y%+4A%24=(5#H@,2XR-3L@5$585"U)3D1%3E0Z M(#!P=#L@1$E34$Q!63H@8FQO8VL[($U!4D=)3BU,1494.B`P<'0[($U!4D=) M3BU224=(5#H@,'!T)R!A;&EG;CTS1&QE9G0^#0H@("`@#0H@("`@("`@("`@ M("`@(#QF;VYT('-T>6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U) M3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SY4;W1A;`T* M("`@#0H@("`@("`@("`@("`@(&-O;7!R96AE;G-I=F4@;&]S6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE M=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF;F)S<#LD/"]F;VYT/@T*("`@ M("`-"B`@("`@("`@("`\+W1D/@T*("`-"B`@("`@("`@("`\=&0@=F%L:6=N M/3-$8F]T=&]M('=I9'1H/3-$,3$E('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ M(&)L86-K(#1P>"!D;W5B;&4[(%1%6%0M04Q)1TXZ(')I9VAT)SX-"B`@(`T* M("`@("`@("`@("`@/&9O;G0@6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%!!1$1)3D6QE M/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R M;VUA;CL@1D].5"U325I%.B`Q,'!T)SXI/"]F;VYT/@T*("`@("`-"B`@("`@ M("`@("`\+W1D/@T*("`-"B`@("`@("`@("`\=&0@86QI9VX],T1R:6=H="!V M86QI9VX],T1B;W1T;VT@=VED=&@],T0Q)2!S='EL93TS1"=0041$24Y'+4)/ M5%1/33H@-'!X)SX-"B`@("`@#0H@("`@("`@("`@("`\9F]N="!S='EL93TS M1"=$25-03$%9.B!I;FQI;F4[($9/3E0M1D%-24Q9.B!T:6UE6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ M('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF;F)S<#LD/"]F M;VYT/@T*("`@("`-"B`@("`@("`@("`\+W1D/@T*("`-"B`@("`@("`@("`\ M=&0@=F%L:6=N/3-$8F]T=&]M('=I9'1H/3-$,3$E('-T>6QE/3-$)T)/4D1% M4BU"3U143TTZ(&)L86-K(#1P>"!D;W5B;&4[(%1%6%0M04Q)1TXZ(')I9VAT M)SX-"B`@(`T*("`@("`@("`@("`@/&9O;G0@6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[ M(%!!1$1)3D6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I M;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXI/"]F;VYT/@T*("`@ M("`-"B`@("`@("`@("`\+W1D/@T*("`-"B`@("`@("`@("`\=&0@86QI9VX] M,T1R:6=H="!V86QI9VX],T1B;W1T;VT@=VED=&@],T0Q)2!S='EL93TS1"=0 M041$24Y'+4)/5%1/33H@-'!X)SX-"B`@("`@#0H@("`@("`@("`@("`\9F]N M="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M1D%-24Q9.B!T:6UE M6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D]. M5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF M;F)S<#LD/"]F;VYT/@T*("`@("`-"B`@("`@("`@("`\+W1D/@T*("`-"B`@ M("`@("`@("`\=&0@=F%L:6=N/3-$8F]T=&]M('=I9'1H/3-$,3$E('-T>6QE M/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#1P>"!D;W5B;&4[(%1%6%0M04Q) M1TXZ(')I9VAT)SX-"B`@(`T*("`@("`@("`@("`@/&9O;G0@6QE/3-$)U1%6%0M04Q) M1TXZ(&QE9G0[(%!!1$1)3D6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U& M04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXI/"]F M;VYT/@T*("`@("`-"B`@("`@("`@("`\+W1D/@T*("`-"B`@("`@("`@("`\ M=&0@86QI9VX],T1R:6=H="!V86QI9VX],T1B;W1T;VT@=VED=&@],T0Q)2!S M='EL93TS1"=0041$24Y'+4)/5%1/33H@-'!X)SX-"B`@("`@#0H@("`@("`@ M("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M1D%- M24Q9.B!T:6UE6QE/3-$)T1)4U!,05DZ(&EN M;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I% M.B`Q,'!T)SXF;F)S<#LD/"]F;VYT/@T*("`@("`-"B`@("`@("`@("`\+W1D M/@T*("`-"B`@("`@("`@("`\=&0@=F%L:6=N/3-$8F]T=&]M('=I9'1H/3-$ M,3$E('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#1P>"!D;W5B;&4[ M(%1%6%0M04Q)1TXZ(')I9VAT)SX-"B`@(`T*("`@("`@("`@("`@/&9O;G0@ M6QE/3-$ M)U1%6%0M04Q)1TXZ(&QE9G0[(%!!1$1)3D6QE/3-$)T1)4U!,05DZ(&EN;&EN M93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q M,'!T)SXI/"]F;VYT/@T*("`@("`-"B`@("`@("`@("`\+W1D/@T*("`-"B`@ M("`@("`@/"]T3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R=%\W,F$Q,#!A85\R M.6-A7S1A969?83`X,5\R8V0Q-S$S,V,Y-V8-"D-O;G1E;G0M3&]C871I;VXZ M(&9I;&4Z+R\O0SHO-S)A,3`P86%?,CEC85\T865F7V$P.#%?,F-D,3'0O:'1M;#L@8VAA'0^/&1I=B!S='EL93TS1"=415A4+4%, M24=..B!L969T.R!,24Y%+4A%24=(5#H@,2XR-3L@5$585"U)3D1%3E0Z(#!P M=#L@1$E34$Q!63H@8FQO8VL[($U!4D=)3BU,1494.B`P<'0[($U!4D=)3BU2 M24=(5#H@,'!T)SX-"B`@("`-"B`@("`@("`@/&9O;G0@6QE M/3-$)TQ)3D4M2$5)1TA4.B`Q+C(U.R!415A4+4E.1$5.5#H@,'!T.R!$25-0 M3$%9.B!B;&]C:SL@34%21TE.+4Q%1E0Z(#!P=#L@34%21TE.+5))1TA4.B`P M<'0G(&%L:6=N/3-$:G5S=&EF>3X-"B`@("`-"B`@("`@(#QF;VYT('-T>6QE M/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ(%1I;65S($YE=R!2 M;VUA;CL@1D].5"U325I%.B`Q,'!T)SY4:&4-"B`@(`T*("`@("`@9F]L;&]W M:6YG(')E8V]N8VEL97,@=&AE(&YU;65R871O3H\+V9O;G0^#0H@("`@(`T*("`@(#PO9&EV/CQB6QE/3-$)T9/3E0M1D%-24Q9.B!T:6UE6QE/3-$)U!!1$1)3D6QE/3-$ M)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA M;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@ M("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D(&%L:6=N/3-$6QE/3-$)U!!1$1)3D6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#)P>"!S;VQI9#L@ M5$585"U!3$E'3CH@8V5N=&5R)SX-"B`@(`T*("`@("`@("`@("`@/&1I=B!S M='EL93TS1"=415A4+4%,24=..B!C96YT97([($Q)3D4M2$5)1TA4.B`Q+C(U M.R!415A4+4E.1$5.5#H@,'!T.R!$25-03$%9.B!B;&]C:SL@34%21TE.+4Q% M1E0Z(#!P=#L@34%21TE.+5))1TA4.B`P<'0G/@T*(`T*("`@("`@("`@("`@ M("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M1D%-24Q9 M.B!T:6UE"<^#0H@ M("`@#0H@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI M;F4[($9/3E0M1D%-24Q9.B!T:6UE6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U& M04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V M,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@ M("`@/'1D(&-O;'-P86X],T0R('9A;&EG;CTS1&)O='1O;2!S='EL93TS1"=" M3U)$15(M0D]45$]-.B!B;&%C:R`R<'@@6QE/3-$)U1%6%0M M04Q)1TXZ(&QE9G0[(%!!1$1)3D"<^#0H@("`@#0H@("`@("`@("`@("`\ M9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M1D%-24Q9.B!T M:6UE6QE/3-$)U1%6%0M04Q)1TXZ(&-E M;G1E6QE/3-$)T1)4U!, M05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D]. M5"U325I%.B`Q,'!T)SY3:7@-"B`-"B`@("`@("`@("`@("`@36]N=&AS($5N M9&5D)B,Q-C`[/"]F;VYT/@T*("`@("`-"B`@("`@("`@("`@(#PO9&EV/@T* M("`@("`-"B`@("`@("`@("`@(#QD:78@6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[ M(%!!1$1)3D"<^#0H@("`@#0H@("`@("`@("`@("`\9F]N="!S='EL93TS M1"=$25-03$%9.B!I;FQI;F4[($9/3E0M1D%-24Q9.B!T:6UE6QE/3-$)U1%6%0M04Q)1TXZ(&-E;G1E6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@ M1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T M)SY3:7@-"B`-"B`@("`@("`@("`@("`@36]N=&AS($5N9&5D)B,Q-C`[/"]F M;VYT/@T*("`@("`-"B`@("`@("`@("`@(#PO9&EV/@T*("`@("`-"B`@("`@ M("`@("`@(#QD:78@6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%!!1$1)3D6QE/3-$)T1) M4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@ M1D].5"U325I%.B`Q,'!T)SY.=6UE6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ M('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O M;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D M(&-O;'-P86X],T0R('9A;&EG;CTS1&)O='1O;3X-"B`@("`-"B`@("`@("`@ M("`@(#QF;VYT('-T>6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U) M3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\ M+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@ M/'1D(&YO=W)A<#TS1&YO=W)A<"!V86QI9VX],T1B;W1T;VT@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE M=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@ M#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D('9A;&EG;CTS M1&)O='1O;3X-"B`@#0H@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-0 M3$%9.B!I;FQI;F4[($9/3E0M1D%-24Q9.B!T:6UE6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/@T* M("`@#0H@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI M;F4[($9/3E0M1D%-24Q9.B!T:6UE6QE/3-$ M)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA M;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@ M("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D(&-O;'-P86X],T0R('9A M;&EG;CTS1&)O='1O;3X-"B`@("`-"B`@("`@("`@("`@(#QF;VYT('-T>6QE M/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R M;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@ M("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D(&YO=W)A<#TS1&YO M=W)A<"!V86QI9VX],T1B;W1T;VT@6QE/3-$)T1)4U!,05DZ M(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U3 M25I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T M9#X-"B`@#0H@("`@("`@(#PO='(^#0H@("`@(`T*("`@("`@("`\='(@6QE/3-$)T1)4U!, M05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D]. M5"U325I%.B`Q,'!T)SY.970-"B`-"B`@("`@("`@("`@("`@;&]S6QE/3-$)T1)4U!,05DZ M(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U3 M25I%.B`Q,'!T)SXF;F)S<#LD/"]F;VYT/@T*("`@("`-"B`@("`@("`@("`\ M+W1D/@T*("`-"B`@("`@("`@("`\=&0@=F%L:6=N/3-$8F]T=&]M('=I9'1H M/3-$,3$E('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SX-"B`@("`@#0H@ M("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/ M3E0M1D%-24Q9.B!T:6UE6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/@T*("`@(`T*("`@ M("`@("`@("`@/&9O;G0@6QE/3-$)T1)4U!,05DZ(&EN M;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I% M.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X- M"B`@#0H@("`@("`@("`@/'1D('9A;&EG;CTS1&)O='1O;2!W:61T:#TS1#$E M('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/@T*("`@#0H@("`@("`@("`@ M("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M1D%-24Q9 M.B!T:6UE6QE/3-$)U1% M6%0M04Q)1TXZ(&QE9G0G/@T*("`@(`T*("`@("`@("`@("`@/&9O;G0@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ M('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O M;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D M('9A;&EG;CTS1&)O='1O;2!W:61T:#TS1#$E('-T>6QE/3-$)U1%6%0M04Q) M1TXZ(&QE9G0G/@T*("`@#0H@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$ M25-03$%9.B!I;FQI;F4[($9/3E0M1D%-24Q9.B!T:6UE6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/@T* M("`@(`T*("`@("`@("`@("`@/&9O;G0@6QE/3-$)T1) M4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@ M1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@ M("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D('9A;&EG;CTS1&)O='1O;2!W M:61T:#TS1#$E('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/@T*("`@#0H@ M("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/ M3E0M1D%-24Q9.B!T:6UE6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/@T*("`@(`T*("`@("`@("`@("`@ M/&9O;G0@6QE/3-$)V)A8VMG6QE M/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R M;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@ M("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D('9A;&EG;CTS1&)O M='1O;2!W:61T:#TS1#$E('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/@T* M("`@#0H@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI M;F4[($9/3E0M1D%-24Q9.B!T:6UE6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U) M3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\ M+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@ M/'1D(&YO=W)A<#TS1&YO=W)A<"!V86QI9VX],T1B;W1T;VT@=VED=&@],T0Q M)2!S='EL93TS1"=415A4+4%,24=..B!L969T)SX-"B`@("`-"B`@("`@("`@ M("`@(#QF;VYT('-T>6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U) M3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\ M+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@ M/'1D('9A;&EG;CTS1&)O='1O;2!W:61T:#TS1#$E/@T*("`@#0H@("`@("`@ M("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M1D%- M24Q9.B!T:6UE6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SX- M"B`@("`@#0H@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I M;FQI;F4[($9/3E0M1D%-24Q9.B!T:6UE6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U) M3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\ M+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@ M/'1D('9A;&EG;CTS1&)O='1O;2!W:61T:#TS1#$Q)2!S='EL93TS1"=415A4 M+4%,24=..B!R:6=H="<^#0H@("`@(`T*("`@("`@("`@("`@/&9O;G0@6QE/3-$)U1% M6%0M04Q)1TXZ(&QE9G0G/@T*("`@(`T*("`@("`@("`@("`@/&9O;G0@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE M=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@ M#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D('9A;&EG;CTS M1&)O='1O;2!W:61T:#TS1#$E('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G M/@T*("`@#0H@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I M;FQI;F4[($9/3E0M1D%-24Q9.B!T:6UE6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U& M04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V M,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@ M("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!V86QI9VX],T1B;W1T;VT@=VED=&@] M,T0Q)2!S='EL93TS1"=415A4+4%,24=..B!L969T)SX-"B`@("`-"B`@("`@ M("`@("`@(#QF;VYT('-T>6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U& M04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V M,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@ M(#PO='(^#0H@("`@(`T*("`@("`@("`\='(@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D]. M5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SY$ M96YO;6EN871O6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I M;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^ M#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D('9A M;&EG;CTS1&)O='1O;2!W:61T:#TS1#$E('-T>6QE/3-$)U1%6%0M04Q)1TXZ M(&QE9G0G/@T*("`@#0H@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-0 M3$%9.B!I;FQI;F4[($9/3E0M1D%-24Q9.B!T:6UE6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@ M1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T M)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@ M("`@("`@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!V86QI9VX],T1B;W1T;VT@ M=VED=&@],T0Q)2!S='EL93TS1"=415A4+4%,24=..B!L969T)SX-"B`@("`- M"B`@("`@("`@("`@(#QF;VYT('-T>6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@ M1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T M)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@ M("`@("`@("`@/'1D('9A;&EG;CTS1&)O='1O;2!W:61T:#TS1#$E/@T*("`@ M#0H@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[ M($9/3E0M1D%-24Q9.B!T:6UE6QE/3-$)U1%6%0M04Q)1TXZ M(')I9VAT)SX-"B`@("`@#0H@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$ M25-03$%9.B!I;FQI;F4[($9/3E0M1D%-24Q9.B!T:6UE6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@ M1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T M)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@ M("`@("`@("`@/'1D('9A;&EG;CTS1&)O='1O;2!W:61T:#TS1#$Q)2!S='EL M93TS1"=415A4+4%,24=..B!R:6=H="<^#0H@("`@(`T*("`@("`@("`@("`@ M/&9O;G0@6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/@T*("`@(`T*("`@("`@("`@("`@ M/&9O;G0@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ M('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O M;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D M('9A;&EG;CTS1&)O='1O;2!W:61T:#TS1#$E('-T>6QE/3-$)U1%6%0M04Q) M1TXZ(&QE9G0G/@T*("`@#0H@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$ M25-03$%9.B!I;FQI;F4[($9/3E0M1D%-24Q9.B!T:6UE6QE/3-$)T1)4U!,05DZ(&EN;&EN M93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q M,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@ M#0H@("`@("`@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!V86QI9VX],T1B;W1T M;VT@=VED=&@],T0Q)2!S='EL93TS1"=415A4+4%,24=..B!L969T)SX-"B`@ M("`-"B`@("`@("`@("`@(#QF;VYT('-T>6QE/3-$)T1)4U!,05DZ(&EN;&EN M93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q M,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@ M#0H@("`@("`@(#PO='(^#0H@("`@(`T*("`@("`@("`\='(@6QE/3-$)U!!1$1)3D"<^#0H@("`@(`T*("`@("`@("`@("`@/&9O;G0@6QE/3-$)U!! M1$1)3D6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S M(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@ M("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D('9A;&EG M;CTS1&)O='1O;2!W:61T:#TS1#$E('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ M(&)L86-K(#)P>"!S;VQI9#L@5$585"U!3$E'3CH@;&5F="<^#0H@("`@(`T* M("`@("`@("`@("`@/&9O;G0@6QE M/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#)P>"!S;VQI9#L@5$585"U!3$E' M3CH@6QE/3-$)T1) M4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@ M1D].5"U325I%.B`Q,'!T)SXV,BPQ,#DL-S`R/"]F;VYT/@T*("`@(`T*("`@ M("`@("`@(#PO=&0^#0H@(`T*("`@("`@("`@(#QT9"!N;W=R87`],T1N;W=R M87`@=F%L:6=N/3-$8F]T=&]M('=I9'1H/3-$,24@"<^#0H@("`@(`T*("`@ M("`@("`@("`@/&9O;G0@6QE/3-$)T1) M4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@ M1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@ M("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D('9A;&EG;CTS1&)O='1O;2!W M:61T:#TS1#$Q)2!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`R<'@@ M6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%!!1$1)3D6QE/3-$)T1)4U!, M05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D]. M5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@ M/"]T9#X-"B`@#0H@("`@("`@("`@/'1D(&%L:6=N/3-$"<^#0H@("`@(`T*("`@("`@("`@("`@/&9O;G0@6QE/3-$)V)A8VMG6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@ M1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T M)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@ M("`@("`@("`@/'1D('9A;&EG;CTS1&)O='1O;2!W:61T:#TS1#$Q)2!S='EL M93TS1"=415A4+4%,24=..B!R:6=H="<^#0H@("`@(`T*("`@("`@("`@("`@ M/&9O;G0@6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/@T*("`@(`T*("`@("`@("`@("`@ M/&9O;G0@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ M('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O M;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D M('9A;&EG;CTS1&)O='1O;2!W:61T:#TS1#$E('-T>6QE/3-$)U1%6%0M04Q) M1TXZ(&QE9G0G/@T*("`@#0H@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$ M25-03$%9.B!I;FQI;F4[($9/3E0M1D%-24Q9.B!T:6UE6QE/3-$)T1)4U!,05DZ(&EN;&EN M93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q M,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@ M#0H@("`@("`@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!V86QI9VX],T1B;W1T M;VT@=VED=&@],T0Q)2!S='EL93TS1"=415A4+4%,24=..B!L969T)SX-"B`@ M("`-"B`@("`@("`@("`@(#QF;VYT('-T>6QE/3-$)T1)4U!,05DZ(&EN;&EN M93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q M,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@ M#0H@("`@("`@("`@/'1D('9A;&EG;CTS1&)O='1O;2!W:61T:#TS1#$E/@T* M("`@#0H@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI M;F4[($9/3E0M1D%-24Q9.B!T:6UE6QE/3-$)U1%6%0M04Q) M1TXZ(')I9VAT)SX-"B`@("`@#0H@("`@("`@("`@("`\9F]N="!S='EL93TS M1"=$25-03$%9.B!I;FQI;F4[($9/3E0M1D%-24Q9.B!T:6UE6QE/3-$)T1)4U!,05DZ(&EN;&EN M93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q M,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@ M#0H@("`@("`@("`@/'1D('9A;&EG;CTS1&)O='1O;2!W:61T:#TS1#$Q)2!S M='EL93TS1"=415A4+4%,24=..B!R:6=H="<^#0H@("`@(`T*("`@("`@("`@ M("`@/&9O;G0@6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/@T*("`@(`T*("`@("`@("`@ M("`@/&9O;G0@"<^#0H@("`@(`T*("`@("`@("`@("`@/&1I=B!S M='EL93TS1"=,24Y%+4A%24=(5#H@,2XR-3L@5$585"U)3D1%3E0Z(#!P=#L@ M1$E34$Q!63H@8FQO8VL[($U!4D=)3BU,1494.B`P<'0[($U!4D=)3BU224=( M5#H@,'!T)R!A;&EG;CTS1&QE9G0^#0H@("`@#0H@("`@("`@("`@("`@(#QF M;VYT('-T>6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I M;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SY"87-I8PT*("`@#0H@ M("`@("`@("`@("`@(&%N9"!D:6QU=&5D(&QO6QE/3-$)U!!1$1)3D6QE/3-$)T1) M4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@ M1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@ M("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D('9A;&EG;CTS1&)O='1O;2!W M:61T:#TS1#$E('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#1P>"!D M;W5B;&4[(%1%6%0M04Q)1TXZ(&QE9G0G/@T*(`T*("`@("`@("`@("`@/&9O M;G0@"<^#0H@("`@(`T*("`@("`@("`@("`@/&9O;G0@6QE/3-$)T1)4U!, M05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D]. M5"U325I%.B`Q,'!T)SXH,"XP,3PO9F]N=#X-"B`@("`-"B`@("`@("`@("`\ M+W1D/@T*("`-"B`@("`@("`@("`\=&0@;F]W6QE/3-$)U1%6%0M04Q)1TXZ(&QE M9G0[(%!!1$1)3D6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ M('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXI/"]F;VYT/@T* M("`@("`-"B`@("`@("`@("`\+W1D/@T*("`-"B`@("`@("`@("`\=&0@86QI M9VX],T1R:6=H="!V86QI9VX],T1B;W1T;VT@=VED=&@],T0Q)2!S='EL93TS M1"=0041$24Y'+4)/5%1/33H@-'!X)SX-"B`@("`@#0H@("`@("`@("`@("`\ M9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M1D%-24Q9.B!T M:6UE6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@ M1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T M)SXF;F)S<#LD/"]F;VYT/@T*("`@("`-"B`@("`@("`@("`\+W1D/@T*("`- M"B`@("`@("`@("`\=&0@=F%L:6=N/3-$8F]T=&]M('=I9'1H/3-$,3$E('-T M>6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#1P>"!D;W5B;&4[(%1%6%0M M04Q)1TXZ(')I9VAT)SX-"B`@(`T*("`@("`@("`@("`@/&9O;G0@"<^#0H@("`@(`T*("`@ M("`@("`@("`@/&9O;G0@6QE/3-$)U!!1$1)3D6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U& M04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V M,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@ M("`@/'1D('9A;&EG;CTS1&)O='1O;2!W:61T:#TS1#$E('-T>6QE/3-$)T)/ M4D1%4BU"3U143TTZ(&)L86-K(#1P>"!D;W5B;&4[(%1%6%0M04Q)1TXZ(&QE M9G0G/@T*(`T*("`@("`@("`@("`@/&9O;G0@7!E.B!T M97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@/&AE M860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C;VYT M96YT/3-$)W1E>'0O:'1M;#L@8VAA6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U& M04U)3%DZ(%1I;65S($YE=R!2;VUA;CL@1D].5"U325I%.B`Q,'!T.R!&3TY4 M+5=%24=(5#H@8F]L9"<^3F]T90T*("`@#0H@("`@("`Q,2`M($E.0T]-12!4 M05A%4SPO9F]N=#X-"B`@#0H@("`@/"]D:78^/&)R+SX\9&EV('-T>6QE/3-$ M)TQ)3D4M2$5)1TA4.B`Q+C(U.R!415A4+4E.1$5.5#H@,'!T.R!$25-03$%9 M.B!B;&]C:SL@34%21TE.+4Q%1E0Z(#!P=#L@34%21TE.+5))1TA4.B`P<'0G M(&%L:6=N/3-$:G5S=&EF>3X-"B`@#0H@("`@("`\9F]N="!S='EL93TS1"=$ M25-03$%9.B!I;FQI;F4[($9/3E0M1D%-24Q9.B!4:6UE0T*("`-"B`@("`@(#$L(#(P,#@L(&%N9"!T:&5R92!W87,@;F\@;6%T M97)I86P@969F96-T(&]N('1H92!F:6YA;F-I86P-"B`@("`@#0H@("`@("!S M=&%T96UE;G1S(&%T('1H92!D871E(&]F(&%D;W!T:6]N+B!4:&5R92!W87,@ M;F\@8W5M=6QA=&EV90T*(`T*("`@("`@969F96-T(')E;&%T960@=&\@861O M<'1I;F<@1D%30B!!4T,@-S0P+3$P+CPO9F]N=#X-"B`@(`T*("`@(#PO9&EV M/CQB"!R871E0T*(`T*("`@("`@<')O=FED960@ M82!V86QU871I;VX@86QL;W=A;F-E(&5Q=6%L('1O('1H92!D969EF5D+B8C,38P.R8C,38P.U1A>"!L;W-S97,@9G)O;2!T:&4@2V]R M96%N('-U8G-I9&EA&%B;&4- M"B`@("`@#0H@("`@("!I;F-O;64N)B,Q-C`[)B,Q-C`[5&AE(%4N4RX@=&%X M(&QO65A6QE/3-$ M)TQ)3D4M2$5)1TA4.B`Q+C(U.R!415A4+4E.1$5.5#H@,'!T.R!$25-03$%9 M.B!B;&]C:SL@34%21TE.+4Q%1E0Z(#!P=#L@34%21TE.+5))1TA4.B`P<'0G M(&%L:6=N/3-$:G5S=&EF>3X-"B`@#0H@("`@("`\9F]N="!S='EL93TS1"=$ M25-03$%9.B!I;FQI;F4[($9/3E0M1D%-24Q9.B!4:6UE6QE/3-$ M)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ(%1I;65S($YE=R!2;VUA M;CL@1D].5"U325I%.B`Q,'!T)SY4:&4-"B`@(`T*("`@("`@0V]M<&%N>2!H M87,@9&5F97)R960@:6YC;VUE('1A>"!A"<^#0H@("`-"B`@("`@("`@("`@(#QF;VYT('-T>6QE M/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R M;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@ M("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D(&%L:6=N/3-$;&5F M="!V86QI9VX],T1B;W1T;VT@"<^#0H@("`-"B`@("`@("`@("`@(#QF;VYT('-T>6QE/3-$)T1)4U!,05DZ M(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U3 M25I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T M9#X-"B`@#0H@("`@("`@("`@/'1D(&-O;'-P86X],T0R('9A;&EG;CTS1&)O M='1O;2!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`R<'@@6QE/3-$)TQ)3D4M2$5)1TA4 M.B`Q+C(U.R!415A4+4E.1$5.5#H@,'!T.R!$25-03$%9.B!B;&]C:SL@34%2 M1TE.+4Q%1E0Z(#!P=#L@34%21TE.+5))1TA4.B`P<'0G(&%L:6=N/3-$8V5N M=&5R/@T*(`T*("`@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9 M.B!I;FQI;F4[($9/3E0M1D%-24Q9.B!T:6UE"<^#0H@ M("`-"B`@("`@("`@("`@(#QF;VYT('-T>6QE/3-$)T1)4U!,05DZ(&EN;&EN M93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q M,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@ M#0H@("`@("`@("`@/'1D(&%L:6=N/3-$;&5F="!V86QI9VX],T1B;W1T;VT@ M"<^#0H@("`-"B`@("`@("`@ M("`@(#QF;VYT('-T>6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U) M3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\ M+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@ M/'1D(&-O;'-P86X],T0R('9A;&EG;CTS1&)O='1O;2!S='EL93TS1"="3U)$ M15(M0D]45$]-.B!B;&%C:R`R<'@@6QE/3-$)TQ)3D4M2$5)1TA4.B`Q+C(U.R!415A4+4E.1$5. M5#H@,'!T.R!$25-03$%9.B!B;&]C:SL@34%21TE.+4Q%1E0Z(#!P=#L@34%2 M1TE.+5))1TA4.B`P<'0G(&%L:6=N/3-$8V5N=&5R/@T*(`T*("`@("`@("`@ M("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M1D%- M24Q9.B!T:6UE"<^#0H@("`-"B`@("`@("`@("`@ M(#QF;VYT('-T>6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ M('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O M;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@(#PO='(^ M#0H@("`@(`T*("`@("`@("`\='(^#0H@("`@#0H@("`@("`@("`@/'1D(&%L M:6=N/3-$;&5F="!V86QI9VX],T1B;W1T;VT^#0H@("`@(`T*("`@("`@("`@ M("`@/&9O;G0@6QE/3-$)T1)4U!,05DZ M(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U3 M25I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T M9#X-"B`@#0H@("`@("`@("`@/'1D(&%L:6=N/3-$;&5F="!V86QI9VX],T1B M;W1T;VT^#0H@("`@(`T*("`@("`@("`@("`@/&9O;G0@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ M('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O M;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D M(&%L:6=N/3-$;&5F="!V86QI9VX],T1B;W1T;VT^#0H@("`@(`T*("`@("`@ M("`@("`@/&9O;G0@6QE/3-$)TQ) M3D4M2$5)1TA4.B`Q+C(U.R!415A4+4E.1$5.5#H@,'!T.R!$25-03$%9.B!B M;&]C:SL@34%21TE.+4Q%1E0Z(#!P=#L@34%21TE.+5))1TA4.B`P<'0G(&%L M:6=N/3-$:G5S=&EF>3X-"B`@#0H@("`@("`@("`@("`@(#QF;VYT('-T>6QE M/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R M;VUA;CL@1D].5"U325I%.B`Q,'!T)SY$969E6QE M/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R M;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@ M("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D(&%L:6=N/3-$;&5F M="!V86QI9VX],T1B;W1T;VT^#0H@("`@(`T*("`@("`@("`@("`@/&9O;G0@ M6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@ M1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T M)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@ M("`@("`@(#PO='(^#0H@("`@(`T*("`@("`@("`\='(@6QE/3-$)TQ) M3D4M2$5)1TA4.B`Q+C(U.R!415A4+4E.1$5.5#H@,'!T.R!$25-03$%9.B!B M;&]C:SL@34%21TE.+4Q%1E0Z(#!P=#L@34%21TE.+5))1TA4.B`P<'0G(&%L M:6=N/3-$:G5S=&EF>3X-"B`@#0H@("`@("`@("`@("`@(#QF;VYT('-T>6QE M/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R M;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#LF(S$V,#LF(S$V,#LF(S$V M,#LF(S$V,#M.970-"B`-"B`@("`@("`@("`@("`@;W!E6QE/3-$)TQ)3D4M2$5)1TA4.B`Q+C(U.R!4 M15A4+4E.1$5.5#H@,'!T.R!$25-03$%9.B!B;&]C:SL@34%21TE.+4Q%1E0Z M(#!P=#L@34%21TE.+5))1TA4.B`P<'0G(&%L:6=N/3-$;&5F=#X-"B`@("`- M"B`@("`@("`@("`@("`@/&9O;G0@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@ M1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T M)SXQ,BPU,#`\+V9O;G0^#0H@(`T*("`@("`@("`@("`@/"]D:78^#0H@("`@ M(`T*("`@("`@("`@(#PO=&0^#0H@(`T*("`@("`@("`@(#QT9"!A;&EG;CTS M1&QE9G0@=F%L:6=N/3-$8F]T=&]M('=I9'1H/3-$,24@"<^#0H@("`@#0H@("`@("`@("`@("`\9F]N="!S M='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M1D%-24Q9.B!T:6UE6QE/3-$)U!! M1$1)3D6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S M(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@ M("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D(&%L:6=N M/3-$;&5F="!V86QI9VX],T1B;W1T;VT@=VED=&@],T0Q)2!S='EL93TS1"=" M3U)$15(M0D]45$]-.B!B;&%C:R`R<'@@6QE/3-$)T)/ M4D1%4BU"3U143TTZ(&)L86-K(#)P>"!S;VQI9"<^#0H@(`T*("`@("`@("`@ M("`@/&1I=B!S='EL93TS1"=,24Y%+4A%24=(5#H@,2XR-3L@5$585"U)3D1% M3E0Z(#!P=#L@1$E34$Q!63H@8FQO8VL[($U!4D=)3BU,1494.B`P<'0[($U! M4D=)3BU224=(5#H@,'!T)R!A;&EG;CTS1')I9VAT/@T*("`@("`-"B`@("`@ M("`@("`@("`@/&9O;G0@6QE M/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R M;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@ M("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@(#PO='(^#0H@("`@(`T*("`@ M("`@("`\='(@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE M=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@ M#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D(&%L:6=N/3-$ M6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S M(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXQ,BPU,#`\+V9O;G0^#0H@ M(`T*("`@("`@("`@("`@/"]D:78^#0H@("`@(`T*("`@("`@("`@(#PO=&0^ M#0H@(`T*("`@("`@("`@(#QT9"!A;&EG;CTS1&QE9G0@=F%L:6=N/3-$8F]T M=&]M('=I9'1H/3-$,24^#0H@#0H@("`@("`@("`@("`\9F]N="!S='EL93TS M1"=$25-03$%9.B!I;FQI;F4[($9/3E0M1D%-24Q9.B!T:6UE6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ M('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O M;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D M(&%L:6=N/3-$;&5F="!V86QI9VX],T1B;W1T;VT@=VED=&@],T0Q)3X-"B`- M"B`@("`@("`@("`@(#QF;VYT('-T>6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@ M1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T M)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@ M("`@("`@("`@/'1D(&%L:6=N/3-$6QE/3-$)TQ) M3D4M2$5)1TA4.B`Q+C(U.R!415A4+4E.1$5.5#H@,'!T.R!$25-03$%9.B!B M;&]C:SL@34%21TE.+4Q%1E0Z(#!P=#L@34%21TE.+5))1TA4.B`P<'0G(&%L M:6=N/3-$6QE M/3-$)U!!1$1)3D6QE/3-$ M)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA M;CL@1D].5"U325I%.B`Q,'!T)SXH,3(L-3`P/"]F;VYT/@T*("`@#0H@("`@ M("`@("`@("`\+V1I=CX-"B`@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@ M("`@("`@("`@/'1D(&%L:6=N/3-$;&5F="!V86QI9VX],T1B;W1T;VT@=VED M=&@],T0Q)2!S='EL93TS1"=0041$24Y'+4)/5%1/33H@,G!X)SX-"B`@("`- M"B`@("`@("`@("`@(#QD:78@"<^#0H@("`@(`T*("`@("`@("`@("`@/&9O;G0@ M6QE/3-$)T)/ M4D1%4BU"3U143TTZ(&)L86-K(#)P>"!S;VQI9"<^#0H@("`@(`T*("`@("`@ M("`@("`@/&9O;G0@6QE/3-$)TQ)3D4M2$5)1TA4.B`Q M+C(U.R!415A4+4E.1$5.5#H@,'!T.R!$25-03$%9.B!B;&]C:SL@34%21TE. M+4Q%1E0Z(#!P=#L@34%21TE.+5))1TA4.B`P<'0G(&%L:6=N/3-$"<^#0H@("`@#0H@("`@("`@ M("`@("`\9&EV('-T>6QE/3-$)TQ)3D4M2$5)1TA4.B`Q+C(U.R!415A4+4E. M1$5.5#H@,'!T.R!$25-03$%9.B!B;&]C:SL@34%21TE.+4Q%1E0Z(#!P=#L@ M34%21TE.+5))1TA4.B`P<'0G(&%L:6=N/3-$;&5F=#X-"B`@("`-"B`@("`@ M("`@("`@("`@/&9O;G0@6QE/3-$)V)A8VMG6QE/3-$)U!!1$1)3D6QE/3-$)T1)4U!,05DZ M(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U3 M25I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T M9#X-"B`@#0H@("`@("`@("`@/'1D(&%L:6=N/3-$;&5F="!V86QI9VX],T1B M;W1T;VT@=VED=&@],T0Q)2!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C M:R`T<'@@9&]U8FQE)SX-"B`-"B`@("`@("`@("`@(#QD:78@6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#1P M>"!D;W5B;&4G/@T*("`@#0H@("`@("`@("`@("`\9&EV('-T>6QE/3-$)TQ) M3D4M2$5)1TA4.B`Q+C(U.R!415A4+4E.1$5.5#H@,'!T.R!$25-03$%9.B!B M;&]C:SL@34%21TE.+4Q%1E0Z(#!P=#L@34%21TE.+5))1TA4.B`P<'0G(&%L M:6=N/3-$6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D]. M5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF M(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@ M("`@("`@/'1D(&%L:6=N/3-$"<^#0H@("`@(`T* M("`@("`@("`@("`@/&9O;G0@6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#1P>"!D;W5B M;&4G/@T*(`T*("`@("`@("`@("`@/&1I=B!S='EL93TS1"=,24Y%+4A%24=( M5#H@,2XR-3L@5$585"U)3D1%3E0Z(#!P=#L@1$E34$Q!63H@8FQO8VL[($U! M4D=)3BU,1494.B`P<'0[($U!4D=)3BU224=(5#H@,'!T)R!A;&EG;CTS1&QE M9G0^#0H@("`@#0H@("`@("`@("`@("`@(#QF;VYT('-T>6QE/3-$)T1)4U!, M05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D]. M5"U325I%.B`Q,'!T)SXF;F)S<#LD/"]F;VYT/@T*("`-"B`@("`@("`@("`@ M(#PO9&EV/@T*("`@("`-"B`@("`@("`@("`\+W1D/@T*("`-"B`@("`@("`@ M("`\=&0@86QI9VX],T1R:6=H="!V86QI9VX],T1B;W1T;VT@=VED=&@],T0Q M,24@6QE/3-$)T1)4U!, M05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D]. M5"U325I%.B`Q,'!T)SXM/"]F;VYT/@T*("`-"B`@("`@("`@("`@(#PO9&EV M/@T*("`@("`-"B`@("`@("`@("`\+W1D/@T*("`-"B`@("`@("`@("`\=&0@ M86QI9VX],T1L969T('9A;&EG;CTS1&)O='1O;2!W:61T:#TS1#$E('-T>6QE M/3-$)U!!1$1)3D2!T:&%N(&YO="!T:&%T('1H92!D M969E"!A6UE;G1S+"!A;F0@86-C;W)D:6YG;'DL(&$@ M9G5L;"!V86QU871I;VX-"B`@(`T*("`@("`@86QL;W=A;F-E(&AA`T*("`-"B`@ M("`@(&%S3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R=%\W,F$Q,#!A85\R M.6-A7S1A969?83`X,5\R8V0Q-S$S,V,Y-V8-"D-O;G1E;G0M3&]C871I;VXZ M(&9I;&4Z+R\O0SHO-S)A,3`P86%?,CEC85\T865F7V$P.#%?,F-D,3'0O:'1M;#L@8VAA'0@0FQO8VM=/"]T M9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\9&EV('-T>6QE/3-$)U1% M6%0M04Q)1TXZ(&IU6QE M/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ(%1I;65S($YE=R!2 M;VUA;CL@1D].5"U325I%.B`Q,'!T.R!&3TY4+5=%24=(5#H@8F]L9"<^3F]T M90T*("`@("`-"B`@("`@("`@,3(@+2!#3TU-251-14Y4/"]F;VYT/@T*("`- M"B`@("`@(#PO9&EV/CQB"!M;VYT:',@96YD M960@2G5N92`S,"P@,C`Q,2!A;F0@,C`Q,"!W97)E(&%P<')O>&EM871E;'D- M"B`@("`@#0H@("`@("`F;F)S<#LD,3`L,3`P(&%N9"`F;F)S<#LD-BPW,#`L M(')E2X\+V9O;G0^#0H@("`-"B`@("`\+V1I=CX\8G(O/CQD M:78@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ(%1I;65S M($YE=R!2;VUA;CL@1D].5"U325I%.B`Q,'!T)SY&=71U6UE;G1S('5N9&5R('1H92!L96%S92!A65A6QE/3-$)T9/3E0M1D%-24Q9.B!T:6UE6QE/3-$)V)A M8VMG6QE/3-$)U1%6%0M M04Q)1TXZ(&QE9G0[(%1%6%0M24Y$14Y4.B`P<'0[(%!!1$1)3D6QE/3-$)T1)4U!, M05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D]. M5"U325I%.B`Q,'!T)SXR,#$Q/"]F;VYT/@T*("`@("`-"B`@("`@("`@("`@ M(#PO9&EV/@T*("`@("`-"B`@("`@("`@("`\+W1D/@T*("`-"B`@("`@("`@ M("`\=&0@86QI9VX],T1R:6=H="!V86QI9VX],T1B;W1T;VT@=VED=&@],T0Q M)3X-"B`@#0H@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I M;FQI;F4[($9/3E0M1D%-24Q9.B!T:6UE6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE M=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXR,RPY,#`\+V9O;G0^#0H@("`@ M(`T*("`@("`@("`@(#PO=&0^#0H@(`T*("`@("`@("`@(#QT9"!N;W=R87`] M,T1N;W=R87`@=F%L:6=N/3-$8F]T=&]M('=I9'1H/3-$,24@6QE/3-$)V)A8VMG6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S M(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXF(S$V,#L\+V9O;G0^#0H@ M("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D('9A;&EG M;CTS1&)O='1O;2!W:61T:#TS1#$E('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE M9G0G/@T*("`@#0H@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9 M.B!I;FQI;F4[($9/3E0M1D%-24Q9.B!T:6UE6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D]. M5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@1D].5"U325I%.B`Q,'!T)SXT M-RPX,#`\+V9O;G0^#0H@("`@(`T*("`@("`@("`@(#PO=&0^#0H@(`T*("`@ M("`@("`@(#QT9"!N;W=R87`],T1N;W=R87`@=F%L:6=N/3-$8F]T=&]M('=I M9'1H/3-$,24@6QE/3-$)V)A8VMG M6QE/3-$)U1%6%0M04Q) M1TXZ(&QE9G0[(%!!1$1)3D6QE M/3-$)U1%6%0M04Q)1TXZ(&QE9G0[($Q)3D4M2$5)1TA4.B`Q+C(U.R!415A4 M+4E.1$5.5#H@,'!T.R!$25-03$%9.B!B;&]C:SL@34%21TE.+4Q%1E0Z(#!P M=#L@34%21TE.+5))1TA4.B`P<'0G/@T*("`@(`T*("`@("`@("`@("`@("`\ M9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M1D%-24Q9.B!T M:6UE"<^#0H@("`@(`T*("`@("`@("`@("`@/&9O;G0@"<^#0H@("`@(`T*("`@("`@("`@("`@/&9O;G0@6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%!!1$1)3D6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[($Q) M3D4M2$5)1TA4.B`Q+C(U.R!415A4+4E.1$5.5#H@,'!T.R!$25-03$%9.B!B M;&]C:SL@34%21TE.+4Q%1E0Z(#!P=#L@34%21TE.+5))1TA4.B`P<'0G/@T* M("`@(`T*("`@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I M;FQI;F4[($9/3E0M1D%-24Q9.B!T:6UE"<^#0H@("`@(`T*("`@("`@("`@("`@ M/&9O;G0@6QE M/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R M;VUA;CL@1D].5"U325I%.B`Q,'!T)SXW-2PW,#`\+V9O;G0^#0H@("`@(`T* M("`@("`@("`@(#PO=&0^#0H@(`T*("`@("`@("`@(#QT9"!N;W=R87`],T1N M;W=R87`@=F%L:6=N/3-$8F]T=&]M('=I9'1H/3-$,24@"<^#0H@("`@(`T* M("`@("`@("`@("`@/&9O;G0@3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R=%\W,F$Q,#!A85\R M.6-A7S1A969?83`X,5\R8V0Q-S$S,V,Y-V8-"D-O;G1E;G0M3&]C871I;VXZ M(&9I;&4Z+R\O0SHO-S)A,3`P86%?,CEC85\T865F7V$P.#%?,F-D,3'0O:'1M;#L@8VAA6QE/3-$)TQ)3D4M2$5)1TA4.B`Q+C(U.R!415A4+4E. M1$5.5#H@,'!T.R!$25-03$%9.B!B;&]C:SL@34%21TE.+4Q%1E0Z(#!P=#L@ M34%21TE.+5))1TA4.B`P<'0G(&%L:6=N/3-$:G5S=&EF>3X-"B`@#0H@("`@ M("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M1D%-24Q9 M.B!4:6UE"!M;VYT:',@96YD960@2G5N92`S,"P@,C`Q M,2!A;F0-"B`@(`T*("`@("`@,C`Q,"P@='=O(&QA6QE/3-$)TQ)3D4M2$5)1TA4.B`Q+C(U.R!415A4+4E. M1$5.5#H@,'!T.R!$25-03$%9.B!B;&]C:SL@34%21TE.+4Q%1E0Z(#!P=#L@ M34%21TE.+5))1TA4.B`P<'0G(&%L:6=N/3-$;&5F=#X-"B`@("`-"B`@("`@ M(#QF;VYT('-T>6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U&04U)3%DZ M(%1I;65S($YE=R!2;VUA;CL@1D].5"U325I%.B`Q,'!T.R!&3TY4+5=%24=( M5#H@8F]L9"<^3W!E3PO9F]N=#X-"B`@(`T*("`@(#PO9&EV/CQB28C.#(Q-SMS(&]P97)A=&EO;G,@87)E('-U8FIE8W0- M"B`@#0H@("`@("!T;R!V87)I;W5S('!O;&ET:6-A;"P@96-O;F]M:6,L(&%N M9"!O=&AE7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\ M>&UL('AM;&YS.F\],T0B=7)N.G-C:&5M87,M;6EC&UL/@T* M+2TM+2TM/5].97AT4&%R=%\W,F$Q,#!A85\R.6-A7S1A969?83`X,5\R8V0Q ,-S$S,V,Y-V8M+0T* ` end