-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: keymaster@town.hall.org Originator-Key-Asymmetric: MFkwCgYEVQgBAQICAgADSwAwSAJBALeWW4xDV4i7+b6+UyPn5RtObb1cJ7VkACDq pKb9/DClgTKIm08lCfoilvi9Wl4SODbR1+1waHhiGmeZO8OdgLUCAwEAAQ== MIC-Info: RSA-MD5,RSA, gtZTv2sFinUCDzKQTvHCGKBZxSh2NqvdNptjuF681mHCQHesNZlRoRX0IMGNx2vt jkq11LFE9eySrUfY0dqvJg== 0000276326-95-000002.txt : 19950517 0000276326-95-000002.hdr.sgml : 19950516 ACCESSION NUMBER: 0000276326-95-000002 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19950331 FILED AS OF DATE: 19950512 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: MCNEIL REAL ESTATE FUND IX LTD CENTRAL INDEX KEY: 0000276326 STANDARD INDUSTRIAL CLASSIFICATION: OPERATORS OF NONRESIDENTIAL BUILDINGS [6512] IRS NUMBER: 942491437 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 000-09026 FILM NUMBER: 95537723 BUSINESS ADDRESS: STREET 1: 13760 NOEL RD STE 700 STREET 2: LB70 CITY: DALLAS STATE: TX ZIP: 75240 BUSINESS PHONE: 2144485800 MAIL ADDRESS: STREET 1: 13760 NOEL ROAD SUITE 700 LB 70 CITY: DALLAS STATE: TX ZIP: 75240 10-Q 1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q [x] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the period ended March 31, 1995 ------------------------------------------ OR [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________ to_____________ Commission file number 0-9026 MCNEIL REAL ESTATE FUND IX, LTD. -------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) California 94-2491437 -------------------------------------------------------------------------- (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 13760 Noel Road, Suite 700, LB70, Dallas, Texas 75240 -------------------------------------------------------------------------- (Address of principal executive offices) (Zip code) Registrant's telephone number, including area code (214) 448-5800 ------------------------ 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 and (2) has been subject to such filing requirements for the past 90 days. Yes X No --- --- MCNEIL REAL ESTATE FUND IX, LTD. PART I. FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS BALANCE SHEETS (Unaudited)
March 31, December 31, 1995 1994 ----------- ------------ ASSETS Real estate investments: Land..................................................... $ 6,716,099 $ 6,716,099 Buildings and improvements............................... 80,814,658 80,388,616 ---------- ---------- 87,530,757 87,104,715 Less: Accumulated depreciation.......................... (45,208,318) (44,274,163) ----------- ----------- 42,322,439 42,830,552 Cash and cash equivalents................................... 3,927,468 4,199,844 Cash segregated for security deposits....................... 480,401 494,801 Accounts receivable......................................... 57,022 64,464 Prepaid expenses and other assets........................... 168,942 211,266 Escrow deposits............................................. 1,775,144 1,561,384 Deferred borrowing costs, net of accumulated amorti- zation of $538,410 and $487,931 at March 31, 1995 and December 31, 1994, respectively...................... 2,337,101 2,387,580 ---------- ----------- $51,068,517 $51,749,891 ========== ========== LIABILITIES AND PARTNERS' DEFICIT Mortgage notes payable...................................... $51,936,945 $52,098,952 Accounts payable............................................ 133,035 413,894 Accrued property taxes...................................... 1,147,733 934,733 Accrued interest............................................ 375,662 303,521 Other accrued expenses...................................... 176,123 192,952 Payable to affiliates - General Partner..................... 219,344 308,131 Security deposits and deferred rental revenue............... 507,791 498,709 ---------- ---------- 54,496,633 54,750,892 ---------- ---------- Partners' deficit: Limited partners - 110,200 limited partnership units authorized; 110,170 limited partnership units outstanding............................................ (1,027,162) (561,005) General Partner.......................................... (2,400,954) (2,439,996) ---------- ---------- (3,428,116) (3,001,001) $51,068,517 $51,749,891 ========== ==========
The financial information included herein has been prepared by management without audit by independent public accountants. See accompanying notes to financial statements. McNEIL REAL ESTATE FUND IX, LTD. STATEMENTS OF OPERATIONS (Unaudited)
Three Months Ended March 31, ----------------------------- 1995 1994 ---------- ---------- Revenue: Rental revenue................................... $4,678,641 $4,412,484 Interest......................................... 66,454 69,603 --------- --------- Total revenue.................................. 4,745,095 4,482,087 --------- --------- Expenses: Interest......................................... 1,209,446 1,249,311 Depreciation..................................... 934,155 805,728 Property taxes................................... 355,635 337,569 Personnel expenses............................... 710,447 628,874 Repair and maintenance........................... 501,311 461,353 Property management fees - affiliates.............................. 233,284 219,827 Utilities........................................ 440,898 486,326 Other property operating expenses....................................... 312,697 282,605 General and administrative....................... 38,924 19,056 General and administrative - affiliates.......... 183,169 182,793 --------- --------- Total expenses................................. 4,919,966 4,673,442 --------- --------- Net loss............................................ $ (174,871) $ (191,355) ========= ========= Net loss allocated to limited partners.............. $ (466,157) $ (247,069) Net income allocated to General Partner............. 291,286 55,714 --------- --------- Net loss............................................ $ (174,871) $ (191,355) ========= ========= Net loss per limited partnership unit............... $ (4.23) $ (2.24) ========= =========
The financial information included herein has been prepared by management without audit by independent public accountants. See accompanying notes to financial statements. McNEIL REAL ESTATE FUND IX, LTD. STATEMENTS OF PARTNERS' EQUITY (DEFICIT) (Unaudited) For the Three Months Ended March 31, 1995 and 1994
Total Partners' General Limited Equity Partner Partners (Deficit) ------------ ---------- ------------ Balance at December 31, 1993.............. $(2,094,331) $ 454,140 $(1,640,191) Net income (loss)......................... 55,714 (247,069) (191,355) Contingent Management Incentive Distribution........................... (33,246 - (33,246) ---------- ---------- ---------- Balance at March 31, 1994................. $(2,071,863) $ 207,071 $(1,864,792) ========== ========== ========== Balance at December 31, 1994.............. $(2,439,996) $ (561,005) $(3,001,001) Net income (loss)......................... 291,286 (466,157) (174,871) Contingent Management Incentive Distribution........................... (252,244) - (252,244) ---------- ---------- ---------- Balance at March 31, 1995................. $(2,400,954) $(1,027,162) $(3,428,116) ========== ========== ==========
The financial information included herein has been prepared by management without audit by independent public accountants. See accompanying notes to financial statements. McNEIL REAL ESTATE FUND IX, LTD. STATEMENTS OF CASH FLOWS (Unaudited) Increase (Decrease) in Cash and Cash Equivalents
Three Months Ended March 31, ------------------------------------ 1995 1994 ----------- ------------ Cash flows from operating activities: Cash received from tenants........................ $ 4,697,131 $ 4,378,569 Cash paid to suppliers............................ (2,193,723) (1,539,015) Cash paid to affiliates........................... (419,490) (397,719) Interest received................................. 66,454 69,603 Interest paid..................................... (1,076,784) (1,270,201) Property taxes paid and escrowed.................. (409,878) (442,001) Deferred borrowing costs paid..................... - (7,498) ---------- ---------- Net cash provided by operating activities............ 663,710 791,738 ---------- ---------- Cash flows from investing activities: Additions to real estate investments.............. (426,042) (301,533) ---------- ---------- Cash flows from financing activities: Principal payments on mortgage notes payable......................................... (172,050) (209,884) Contingent Management Incentive Distribution.................................... (337,994) (96,000) ---------- ---------- Net cash used in financing activities................ (510,044) (305,884) ---------- ---------- Net increase (decrease) in cash and cash equivalents.................................. (272,376) 184,321 Cash and cash equivalents at beginning of period............................................ 4,199,844 5,754,907 ---------- ---------- Cash and cash equivalents at end of period........... $ 3,927,468 $ 5,939,228 ========== ==========
The financial information included herein has been prepared by management without audit by independent public accountants. See accompanying notes to financial statements. McNEIL REAL ESTATE FUND IX, LTD. STATEMENTS OF CASH FLOWS (Unaudited) Reconciliation of Net Loss to Net Cash Provided by Operating Activities
Three Months Ended March 31, --------------------------------- 1995 1994 ---------- ---------- Net loss............................................. $(174,871) $(191,355) -------- -------- Adjustments to reconcile net loss to net cash provided by operating activities: Depreciation...................................... 934,155 805,728 Amortization of deferred borrowing costs.......... 50,479 50,513 Amortization of mortgage discounts................ 10,043 9,269 Changes in assets and liabilities: Cash segregated for security deposits........... 14,400 (27,448) Accounts receivable............................. 7,442 (502) Prepaid expenses and other assets............... 42,324 26,525 Escrow deposits................................. (213,760) 240,072 Deferred borrowing costs........................ - (7,498) Accounts payable................................ (280,859) 2,173 Accrued property taxes.......................... 213,000 17,791 Accrued interest................................ 72,141 (80,672) Other accrued expenses.......................... (16,829) (74,962) Payable to affiliates - General Partner......... (3,037) 4,901 Security deposits and deferred rental revenue....................................... 9,082 17,203 -------- -------- Total adjustments............................. 838,581 983,093 -------- -------- Net cash provided by operating activities............ $ 663,710 $ 791,738 ======== ========
The financial information included herein has been prepared by management without audit by independent public accountants. See accompanying notes to financial statements. McNEIL REAL ESTATE FUND IX, LTD. Notes to Financial Statements (Unaudited) March 31, 1995 NOTE 1. - ------- McNeil Real Estate Fund IX, Ltd. (the "Partnership") is a limited partnership organized under the laws of the State of California to invest in real property. The general partner of the Partnership is McNeil Partners, L.P. (the "General Partner"), a Delaware limited partnership affiliated with Robert A. McNeil ("McNeil"). The Partnership is governed by an amended and restated limited partnership agreement ("Amended Partnership Agreement") that was adopted September 20, 1991. The principal place of business for the Partnership and the General Partner is 13760 Noel Road, Suite 700, LB70, Dallas, Texas 75240. In the opinion of management, the financial statements reflect all adjustments necessary for a fair presentation of the Partnership's financial position and results of operations. All adjustments were of a normal recurring nature. However, the results of operations for the three months ended March 31, 1995 are not necessarily indicative of the results to be expected for the year ending December 31, 1995. NOTE 2. - ------- The financial statements should be read in conjunction with the financial statements contained in the Partnership's Annual Report on Form 10-K for the year ended December 31, 1994, and the notes thereto, as filed with the Securities and Exchange Commission, which is available upon request by writing to McNeil Real Estate Fund IX, Ltd., c/o McNeil Real Estate Management, Inc., Investor Services, 13760 Noel Road, Suite 700, LB70, Dallas, Texas 75240. NOTE 3. - ------- Certain prior period amounts within the accompanying financial statements have been reclassified to conform with current year presentation. NOTE 4. - ------- The Partnership pays property management fees equal to 5% of the gross rental receipts of the Partnership's properties to McNeil Real Estate Management, Inc. ("McREMI"), an affiliate of the General Partner, for providing property management and leasing services for the Partnership's properties. The Partnership reimburses McREMI for its costs, including overhead, of administering the Partnership's affairs. Under terms of the Amended Partnership Agreement, the Partnership is paying a Management Incentive Distribution ("MID") to the General Partner. The maximum MID is calculated as 1% of the tangible asset value of the Partnership. The maximum MID percentage decreases subsequent to 1999. Tangible asset value is determined by using the greater of (i) an amount calculated by applying a capitalization rate of 9% to the annualized net operating income of each property or (ii) a value of $10,000 per apartment unit to arrive at the property tangible asset value. The property tangible asset value is then added to the book value of all other assets excluding intangible items. Prior to July 1, 1993, the MID consisted of two components: (i) the fixed portion which was payable without respect to the net income of the Partnership and was equal to 25% of the maximum MID (the "Fixed MID") and (ii) a contingent portion which was payable only to the extent of the lesser of the Partnership's excess cash flow, as defined, or net operating income (the "Entitlement Amount") and is equal to up to 75% of the maximum MID (the "Contingent MID"). Effective July 1, 1993, the General Partner amended the Amended Partnership Agreement as a settlement to a class action complaint. This amendment eliminates the Fixed MID and makes the entire MID payable to the extent of the Entitlement Amount. In all other respects, the calculation and payment of the MID will remain the same. Fixed MID was payable in limited partnership units ("Units") unless the Entitlement Amount exceeded the amount necessary to pay the Contingent MID, in which case, at the General Partner's option, the Fixed MID was paid in cash to the extent of such excess. Contingent MID will be paid to the extent of the Entitlement Amount, and may be paid (i) in cash, unless there is insufficient cash to pay the distribution in which event any unpaid portion not taken in Units will be deferred and is payable, without interest, from the first available cash and/or (ii) in Units. A maximum of 50% of the MID may be paid in Units. The number of Units issued in payment of the MID is based on the greater of $50 per Unit or the net tangible asset value, as defined, per Unit. Any amount of the MID that is paid to the General Partner in Units will be treated as if cash was distributed to the General Partner and then contributed to the Partnership by the General Partner. The Fixed MID was treated as a fee payable to the General Partner by the Partnership for services rendered. The Contingent MID represents a return of equity to the General Partner for increasing cash flow, as defined, and accordingly is treated as a distribution. Compensation, reimbursements and distributions paid to or accrued for the benefit of the General Partner and its affiliates are as follows:
Three Months Ended March 31, ------------------------------- 1995 1994 --------- -------- Charged to other assets: Property management fees - affiliates............. $233,284 $219,827 Charged to general and administrative - affiliates: Partnership administration...................... 183,169 182,793 ------- ------- $416,453 $402,620 ======= ======= Charged to General Partner's deficit: Contingent Management Incentive Distribution.................................... $252,244 $ 33,246 ======= =======
NOTE 5. - ------- The Partnership filed claims with the United States Bankruptcy Court for the Northern District of Texas, Dallas Division (the "Bankruptcy Court") against Southmark for damages relating to improper overcharges, breach of contract and breach of fiduciary duty. The Partnership settled these claims in 1991, and such settlement was approved by the Bankruptcy Court. An Order Granting Motion to Distribute Funds to Class 8 Claimants dated April 14, 1995 was issued by the Bankruptcy Court. In accordance with the Order, in May 1995, the Partnership received in full satisfaction of its claims, $53,573 in cash, and common and preferred stock in the reorganized Southmark currently valued at approximately $17,335, which amounts represent the Partnership's pro-rata share of Southmark assets available for Class 8 Claimants. ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION - ------- ----------------------------------------------------------- AND RESULTS OF OPERATIONS ------------------------- The Partnership was formed to acquire, operate and ultimately dispose of a portfolio of income-producing real properties. At March 31, 1995, the Partnership owned fourteen apartment properties. All but one of the Partnership's properties are subject to mortgage notes. RESULTS OF OPERATIONS - --------------------- Revenue: Rental revenue for the three months ended March 31, 1995 increased $266,157 or 6.0% compared to the same period of 1994. Rental revenues increased at thirteen of the Partnership's fourteen properties. The Partnership raised base rental rates an average of 3.7% at all of its properties. Increases in base rental rates were partially offset by lower average occupancy rates at Berkley Hills, Cherry Hills, Forest Park Village, Heather Square, Meridian West, Pennbrook Place, Ruskin Place, and Westgate. Average occupancy rates at the remainder of the properties increased or remained the same. Rental revenue decreased 1.6% at Meridian West Apartments due to large layoffs at the area's primary employer, Boeing, and a generally flat economy. Interest revenue decreased 5% for the three months ended March 31, 1995 compared to the same period last year due to a decrease in cash balances invested in interest-bearing accounts. Expenses: Partnership expenses increased $246,524 or 5.3% for the first quarter of 1995 compared to the first quarter of 1994. Expenses increased at thirteen of the Partnership's fourteen properties. The increased expenses were concentrated in depreciation, personnel expenses and other property operating expenses. Depreciation expense increased $128,427 or 15.9% for the first quarter of 1995 compared to first quarter of 1994. The increase is due to the $4.4 million of capital improvements placed in service at the Partnership's properties since March 31, 1994. These improvements generally are being depreciated over lives ranging from five to ten years. Personnel expenses increased $81,573 or 13.0% for the first quarter of 1995 compared to the first quarter of 1994. This increase was due to an increase in compensation paid to on-site personnel at all of the properties. Other property operating expenses increased $30,092 or 10.6% for the first quarter of 1995 compared to the first quarter of 1994. The increase is due to additional insurance coverage required at the five properties with mortgages that were refinanced on June 24, 1993, through the Real Estate Mortgage Investment Conduit. General and administrative expenses doubled during the first quarter of 1995. Fees paid for audit services were significantly higher for the first quarter of 1995 compared to the first quarter of 1994. All other expense items decreased a total of 2.2% for the first quarter of 1995 compared to the first quarter of 1994. LIQUIDITY AND CAPITAL RESOURCES - ------------------------------- The Partnership reported a loss of $174,871 for the first quarter of 1995, an improvement of $16,484 from the loss recorded for the first quarter of 1994. Cash generated by operations remained positive, due to large non-cash expenses, principally depreciation. However, cash generated by operations decreased $128,028 to $663,710, principally due to increases in cash paid to suppliers. The large increase in cash paid to suppliers was partially offset by increased receipts from tenants and decreased expenditures for interest. The Partnership continues to invest significant resources into capital improvements at its properties. During the first quarter, capital improvement expenditures increased $124,509 or 41% compared to the year earlier quarter. The Partnership has budgeted an additional $1.7 million of capital improvement expenditures for the balance of 1995. The Partnership also increased its expenditures in the financing area. Management Incentive Distributions ("MID") incurred by the Partnership were higher as improved operating results increased the entitlement amount, the trigger for the payment of MID. Increased MID distributions were partially offset by a decrease in the scheduled principal payments on the Partnership's mortgage notes. Short Term Liquidity: Due to the refinancing transactions of 1994 and 1993, the Partnership began 1995 with adequate cash reserves. These reserves will be needed to address continuing capital improvement needs in light of aging condition of the Partnership's properties. The Partnership has budgeted $2.1 million for capital improvements for 1995 in addition to the $9.9 million of capital improvements made during the past three years. The General Partner believes these capital improvements are necessary to allow the Partnership to increase its rental revenues in the competitive markets in which the Partnership's properties operate. These expenditures also allow the Partnership to reduce certain repair and maintenance expenses from amounts that would otherwise be incurred. At March 31, 1995, the Partnership held $3,927,468 of cash and cash equivalents, down $272,376 from the balance at end of 1994. The General Partner anticipates that cash generated from operations for the remainder of 1995 will be sufficient to fund the Partnership's budgeted capital improvements and to repay the current portion of the Partnership's mortgage notes. However, 1995 cash flow from operations likely will not be adequate to pay the MID due to the General Partner. The Partnership will use its cash reserves to pay the MID. The General Partner considers the Partnership's cash reserves adequate for anticipated operations for the remainder of 1995. Long Term Liquidity: For the long term, property operations will remain the primary source of funds. In this regard, the General Partner expects that the $9.9 million of capital improvements made by the Partnership during the past three years will yield improved cash flow from operations in 1995. Furthermore, the General Partner has budgeted an additional $2.1 million of capital improvements for 1995. If the Partnership's cash position deteriorates, the General Partner may elect to defer certain of the capital improvements, except where such improvements are expected to increase the competitiveness or marketability of the Partnership's properties. The General Partner has established a revolving credit facility, not to exceed $5,000,000 in the aggregate, which will be available on a "first-come, first-served" basis to the Partnership and other affiliated partnerships if certain conditions are met. Borrowings under the facility may be used to fund deferred maintenance, refinancing obligations and working capital needs. There is no assurance that the Partnership will receive additional funds from the facility because no amount will be reserved for any particular partnership. As of March 31, 1995, $2,102,530 remained available from the facility; however, additional funds could become available as other partnerships repay borrowings. As an additional source of liquidity, the General Partner may, from time to time, attempt to sell Partnership properties judged to be mature considering the circumstances of the market in which the properties are located, as well as the Partnership's need for liquidity. However, there can be no guarantee that the Partnership will be able to sell any of its properties for an amount sufficient to retire the related mortgage note and still provide cash proceeds to the Partnership, or that such proceeds could be timed to coincide with the liquidity needs of the Partnership. Currently, no Partnership properties are being marketed for sale. Distributions: With the exception of the MID, distributions to partners have been suspended since 1986 as part of the General Partner's policy of maintaining adequate cash reserves. Distributions to Unit holders will remain suspended for the foreseeable future. The General Partner will continue to monitor the cash reserves and working capital needs of the Partnership to determine when cash flows will support distributions to the Unit holders. MID for the first quarter for 1995 amounted to $252,244. PART II. OTHER INFORMATION ITEM 1. LEGAL PROCEEDINGS - ------- ----------------- The Partnership is not a party to, nor are any of the Partnership's properties the subject of, any material pending legal proceedings, other than ordinary litigation routine to the Partnership's business. ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K - ------- --------------------------------
(a) Exhibits. Exhibit Number Description 4. Amended and Restated Partnership Agreement, dated November 12, 1991. (Incorporated by reference to the Quarterly Report on Form 10-Q for the quarter ended March 31, 1991). 11. Statement regarding computation of net loss per limited partnership unit: Net loss per limited partnership unit is computed by dividing net loss allocated to the limited partners by the number of limited partnership units outstanding. Per unit information has been computed based on 110,170 limited partnership units outstanding in 1995 and 1994. 27. Financial Data Schedule for the year ended December 31, 1994 and quarter ended March 31, 1995.
(b) Reports on Form 8-K. There were no reports on Form 8-K filed during the quarter ended March 31, 1995. McNEIL REAL ESTATE FUND IX, LTD. SIGNATURES 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:
McNEIL REAL ESTATE FUND IX, Ltd. By: McNeil Partners, L.P., General Partner By: McNeil Investors, Inc., General Partner May 12, 1995 By: /s/ Donald K. Reed - --------------------------- ------------------------------------------------- Date Donald K. Reed President and Chief Executive Officer May 12, 1995 By: /s/ Robert C. Irvine - --------------------------- ------------------------------------------------- Date Robert C. Irvine Chief Financial Officer of McNeil Investors, Inc. Principal Financial Officer May 12, 1995 By: /s/ Brandon K. Flaming - --------------------------- ------------------------------------------------- Date Brandon K. Flaming Chief Accounting Officer of McNeil Real Estate Management, Inc.
EX-27 2
5 12-MOS 3-MOS DEC-31-1994 DEC-31-1995 DEC-31-1994 MAR-31-1995 4,199,844 3,927,468 0 0 64,464 57,022 0 0 0 0 0 0 87,104,715 87,530,757 (44,274,163) (45,208,318) 51,749,891 51,068,517 0 0 52,098,952 51,936,945 0 0 0 0 0 0 (3,001,001) (3,428,116) 51,749,891 51,068,517 18,202,306 4,678,641 18,642,220 4,745,095 0 0 0 0 14,145,459 3,710,520 0 0 4,884,548 1,209,446 (387,787) (174,871) 0 0 (387,787) (174,871) 0 0 0 0 0 0 (387,787) (174,871) 0 0 0 0
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