-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, L1HMDbPKhorCQ/MRSY3hR8bE7qXs9AFhaNSidMQiSfhFMC4rBLc9IsKy3OKOxlnD Rzvg/m1QqOmoVawty4+dlA== 0000315449-96-000004.txt : 19960501 0000315449-96-000004.hdr.sgml : 19960501 ACCESSION NUMBER: 0000315449-96-000004 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19960131 FILED AS OF DATE: 19960314 SROS: AMEX SROS: BSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: UNIQUE MOBILITY INC CENTRAL INDEX KEY: 0000315449 STANDARD INDUSTRIAL CLASSIFICATION: 3621 IRS NUMBER: 840579156 STATE OF INCORPORATION: CO FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 033-53376 FILM NUMBER: 96534780 BUSINESS ADDRESS: STREET 1: 425 CORPORATE CIRCLE CITY: GOLDEN STATE: CO ZIP: 80401 BUSINESS PHONE: 3032782002 MAIL ADDRESS: STREET 1: 425 CORPORATE CIRCLE CITY: GOLDEN STATE: CO ZIP: 80401 10-Q 1 FORM 10-Q UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended January 31, 1996 Commission file number 0-9146 UNIQUE MOBILITY, INC. (Exact name of registrant as specified in its charter) Colorado 84-0579156 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 425 Corporate Circle Golden, Colorado 80401 (Address of principal executive offices) (zip code) (303) 278-2002 (Registrant's telephone number, including area code) 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 . The number of shares outstanding (including shares held by affiliates) of the registrant's common stock, par value $0.01 per share at March 11, 1996 was 10,931,563. PART I - FINANCIAL INFORMATION UNIQUE MOBILITY, INC. AND SUBSIDIARIES Consolidated Balance Sheets January 31, October 31, Assets 1996 1995 (unaudited) Current assets: Cash and cash equivalents $ 1,749,368 1,796,392 Certificates of deposit 319,107 319,107 Accounts receivable (note 7) 370,737 337,849 Costs and estimated earnings in excess of billings on uncompleted contracts 99,755 262,414 Inventories (note 3) 344,740 404,701 Prepaid expenses 136,156 35,397 Other current assets 82,414 70,203 Total current assets 3,102,277 3,226,063 Property and equipment, at cost: Land 335,500 335,500 Building 1,364,500 1,364,500 Molds 102,113 102,113 Transportation equipment 251,175 251,175 Machinery and equipment 1,756,764 1,763,818 3,810,052 3,817,106 Less accumulated depreciation (1,346,473) (1,275,530) Net property and equipment 2,463,579 2,541,576 Investment in Taiwan joint venture 1,423,850 1,432,735 Patent and trademark costs, net of accumulated amortization of $29,246 and $25,491 459,861 450,394 Other assets 26,512 27,831 $ 7,476,079 7,678,599 (Continued) UNIQUE MOBILITY, INC. AND SUBSIDIARIES Consolidated Balance Sheets, Continued January 31, October 31, Liabilities and Stockholders' Equity 1996 1995 (unaudited) Current liabilities: Accounts payable $ 150,800 83,859 Other current liabilities (note 4) 488,790 464,186 Note payable to Taiwan joint venture participant 1,403,493 1,403,493 Current portion of long-term debt 84,263 81,525 Total current liabilities 2,127,346 2,033,063 Long-term debt, less current portion 785,421 807,003 Total liabilities 2,912,767 2,840,066 Minority interest in consolidated subsidiary 389,376 389,065 Stockholders' equity (notes 5 and 9): Common stock, $.01 par value, 50,000,000 shares authorized; 10,716,172 and 10,571,953 shares issued 107,162 105,720 Additional paid-in capital 19,406,282 18,887,886 Accumulated deficit (15,221,906)(14,426,536) 4,291,538 4,567,070 Less cost of 37,341 shares of treasury stock 117,602 117,602 Total stockholders' equity 4,173,936 4,449,468 Commitment (note 8) $ 7,476,079 7,678,599 See accompanying notes to consolidated financial statements. UNIQUE MOBILITY, INC. AND SUBSIDIARIES Consolidated Statements of Operations (unaudited) Quarter Ended January 31, 1996 1995 Revenue: Contract services (note 7) $ 188,679 842,630 Product sales 115,633 185,589 304,312 1,028,219 Operating costs and expenses: Costs of revenue 344,165 837,844 Research and development 286,947 370,242 General and administrative 318,779 240,703 Depreciation and amortization 92,886 79,068 Royalty 1,417 5,088 1,044,194 1,532,945 Operating loss (739,882) (504,726) Other income (expense): Minority interest share of earnings of consolidated subsidiary (17,147) (16,603) Interest income 25,703 10,666 Interest expense (55,574) (20,077) Equity in loss of Taiwan joint venture (8,885) (2,869) Other 415 1,749 Net loss $ (795,370) (531,860) Net loss per common share $ (.07) (.05) Weighted average number of shares of common stock outstanding (note 6) 10,609,761 9,925,555 See accompanying notes to consolidated financial statements. UNIQUE MOBILITY, INC. AND SUBSIDIARIES Consolidated Statements of Cash Flows (unaudited) Quarter Ended January 31, 1996 1995 Cash flows from operating activities: Net loss $ (795,370) (531,860) Adjustments to reconcile net loss to net cash used by operating activities: Depreciation and amortization 92,886 79,068 Minority interest share of earnings of consolidated subsidiary, net of cash distributions 311 (5,846) Noncash compensation expense for common stock and warrants issued for service 3,750 12,500 Equity in loss of Taiwan joint venture 8,885 2,869 Gain on sale of property and equipment (411) - Change in operating assets and liabilities: Accounts receivable and costs and estimated earnings in excess of billings on uncompleted contracts 129,771 (258,127) Inventories 59,961 (2,484) Prepaid expenses and other current asset (112,970) (82,627) Billings in excess of costs and estimated earnings on uncompleted contracts - 62,921 Accounts payable and other current liabilities 91,545 131,867 Net cash used by operating activities (521,642) (591,719) Cash used by investing activities: Acquisition of property and equipment (12,497) (247,535) Proceeds from sale of property and equipment 3,094 - Increase in patent and trademark costs (13,223) (14,608) Net cash used by investing activities (22,626) (262,143) Cash flows provided by financing activities: Proceeds from borrowings - 112,337 Repayment of debt (18,844) (77,463) Proceeds from sale of common stock, net 500,000 - Issuance of common stock upon exercise of employee options 13,395 - Issuance of common stock under employee stock purchase plan 2,693 2,400 Net cash provided by financing activities 497,244 37,274 Decrease in cash and cash equivalents (47,024) (816,588) Cash and cash equivalents at beginning of quarter 1,796,392 1,620,115 Cash and cash equivalents at end of quarter $ 1,749,368 803,527 UNIQUE MOBILITY, INC. AND SUBSIDIARIES Consolidated Statements of Cash Flows (unaudited) Supplemental disclosures to the consolidated statements of cash flows: Cash paid for interest was $20,750 and $20,077 for the quarter ended January 31, 1996 and 1995, respectively. See accompanying notes to consolidated financial statements. UNIQUE MOBILITY, INC. AND SUBSIDIARIES Notes to Consolidated Financial Statements (unaudited) (1) The accompanying financial statements are unaudited; however, in the opinion of management, all adjustments which were solely of a normal recurring nature, necessary to a fair statement of the results for the interim period, have been made. The results for the interim period are not necessarily indicative of results to be expected for the fiscal year. (2) Certain fiscal 1995 amounts have been reclassified for comparative purposes. (3) Inventories are stated at the lower of cost or market. Cost is determined by the first-in, first-out method and consists of materials, direct labor and production overhead. Inventories consist of the following: January 31, 1996 October 31, 1995 (unaudited) Raw materials $ 196,272 247,225 Work in process 62,482 31,525 Finished products 85,986 125,951 $ 344,740 404,701 (4) The following table summarizes the composition of the Company's other current liabilities: January 31, 1996 October 31, 1995 (unaudited) Accrued subcontractor expense $ 174,781 174,781 Accrued interest 128,023 93,698 Accrued legal and accounting fees 49,285 48,611 Accrued payroll, consulting, personal property and real estate taxes 46,240 44,882 Other 90,461 102,214 $ 488,790 464,186 UNIQUE MOBILITY, INC. AND SUBSIDIARIES Notes to Consolidated Financial Statements, Continued (unaudited) (5) The Company has reserved 4,104,000 shares of common stock for key employees, consultants, and key suppliers under its Incentive and Non-Qualified Option plans. Options became exercisable as determined at the date of grant by the Board of Directors and expire within ten years from the date of grant. The maximum number of shares that may be granted to any eligible employee during the term of the Plan is 500,000 shares. The options require holders to abide by certain Company policies on the trading of the Company's common stock. The following table summarizes activity under the plans: Shares Under Per Share Option Exercise Price Outstanding at October 31, 1994 1,914,533 $ .50 - 8.13 Granted 100,000 5.00 Exercised (64,786) .50 - 3.50 Forfeited (97,515) 3.50 - 6.88 Outstanding at October 31, 1995 1,852,232 .50 - 8.13 Granted 520,000 4.13 Exercised (13,395) 1.00 Forfeited (92,615) 4.13 - 6.88 Outstanding at January 31, 1996 2,266,222 Exercisable at January 31, 1996 1,410,172 In February 1994, the Company's Board of Directors ratified a Stock Option Plan for Non-Employee Directors pursuant to which Directors may elect to receive options in lieu of cash compensation for their services as directors. The Company has reserved 250,000 shares of common stock for issuance pursuant to the exercise of options under the Plan. The options vest ratably over a three-year period beginning one year from the date of grant and are exercisable for ten years from the grant date. Option prices are equal to the fair market value of common shares at the date of grant. The following table summarizes activity under the plan: Shares Under Per Share Option Exercise Price Outstanding at October 31, 1994 48,000 $ 5.38 - 6.25 Granted 61,333 5.00 - 5.13 Outstanding at October 31, 1995 109,333 5.00 - 6.25 Granted - Outstanding at January 31, 1996 109,333 Exercisable at January 31, 1996 20,444 UNIQUE MOBILITY, INC. AND SUBSIDIARIES Notes to Consolidate Financial Statements, Continued (unaudited) In connection with the original issuance of certain subordinated convertible term notes to Advent and Techno, the Company granted Advent and Techno warrants to acquire 790,000 shares of the Company's common stock at the lower of $2.40 per share or the market price of the common stock averaged over the 30 trading days immediately preceding the date of exercise. The warrants expire August 1997, and allow for a cashless exercise of the warrants into common shares based on the spread between the market price of the common stock on the date of exercise and the $2.40 exercise price. All of these warrants remain outstanding at January 31, 1996. The Company has reserved 300,000 shares of common stock for issuance pursuant to a warrant agreement with an investment banking company. Warrants to acquire 200,000 shares of common stock vested on January 20, 1994, and the remaining 100,000 shares vested on January 20, 1995. The warrants were exercisable for a period of five years, expiring on January 19, 1999, at a price of $7.63 per share. Further, the warrants were redeemable on a one-time basis only through June 30, 1994, for a like number of warrants, at the then current fair market value of the Company's common stock with otherwise identical terms. On April 18, 1994, the warrants were redeemed in accordance with the above provision for a like number of warrants which are exercisable at a price of $6.00 per share. The warrants contain transfer restrictions and provisions for the adjustment of the exercise price and the number and type of securities issuable upon exercise based on the occurrence of certain events. All of these warrants remain outstanding at January 31, 1996. In connection with the 1995 common stock issuance, the placement agent was issued warrants expiring July 21, 1998, to acquire 150,000 shares of the Company's common stock at $5.75 per share. All of these warrants remain outstanding at January 31, 1996. (6) Loss per common share amounts are based on the weighted average number of common shares outstanding during the first quarter of each fiscal year presented. Outstanding common stock options and warrants were not included in the computation because the effect of such inclusion would be antidilutive. Fully diluted earning per share are considered equivalent to primary earnings per share. (7) The Company has historically derived significant revenue from contract services from a few key customers. For the first three months of fiscal 1996, the Company derived $170,633 of contract services revenue from three customers, which was 90 percent of total revenue. These three customers also represented 56 percent of the total accounts receivable balance at January 31, 1996. For the three months ended January 31, 1995, the Company derived $767,448 of contract services revenue from four customers, which was 75 percent of total revenue. These four customers also represented 58 percent of the total accounts receivable balance at January 31, 1995. (8) The Company has entered into employment agreements with four of its officers which expire December 31, 1996. The aggregate annual future compensation under these agreements through the expiration date is $459,988. (9) During February 1996, the Company sold 181,000 shares of common stock to various overseas institutional investors at an average price of $4.69 per share under Regulation S. Net proceeds to the Company were approximately $806,000. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS FINANCIAL CONDITION During the first quarter of fiscal 1996 the Company continued to invest human and financial resources toward the commercialization of its proprietary line of permanent magnet motors and controls. Coincident with these activities the Company completed an agreement with Invacare Corporation (Elyria, OH) for the development and potential manufacture and supply of electric motors for Invacare's line of medical products. Pursuant to the agreement Invacare purchased 129,032 shares of the Company's common stock for $3.88 per share resulting in cash proceeds to the Company of $500,000. Contingent on development milestones, Invacare has further agreed to purchase additional shares at market price during the 1996 fiscal year. Primarily as a result of this transaction the Company's financial condition remained strong throughout the first quarter despite increased levels of operating losses arising from increased levels of internally funded development activities. Throughout the remainder of fiscal 1996 the Company intends to launch expanded manufacturing operations at its Golden, Colorado facility, continue the development of the Ethos 3 EV demonstration vehicle in collaboration with Pininfarina and make additional investments in its Taiwan based joint venture with Kwang Yang Motor Co., Ltd. and Turn-Luckily Technology Co., Ltd. coincident with the construction of a manufacturing facility and launch of manufacturing operations in Taiwan. The Company does not currently possess the financial resources to fully fund these activities. See "Liquidity and Capital Resources" below. Cash balances at January 31, 1996 declined $47,024 to $2,068,475 compared to $2,115,499 at October 31, 1995. Accounts receivable rose $32,888 to $370,737 at the end of the fiscal 1996 first quarter and costs and estimated earnings in excess of billings on uncompleted contracts declined $162,659 from the fiscal 1995 year end level due to the billing of subcontract costs on a contract with an agency of the U. S. Government. Inventories declined to $344,740 at January 31, 1996 compared to $404,701 at October 31, 1995 primarily due to decreased levels of raw materials and finished products inventories which was offset, in part, by higher levels of work in process inventories. Prepaid expenses rose $100,759 to $136,156 at the end of the first quarter of fiscal 1996 due to the prepayment of annual premiums on the Company's commercial insurance coverages which are amortized ratably over the fiscal year. The Company invested $12,497 for the acquisition of machinery and equipment and liquidated obsolete computer hardware which resulted in a net decrease in machinery and equipment of $7,054 during the fiscal 1996 first quarter. Patent and trademark costs rose $9,467 to $459,861 at the January 31, 1996 versus $450,394 at October 31, 1995 reflecting continued prosecution of the Company's pending patent and trademark applications. Accounts payable rose $66,941 to $150,800 at January 31, 1996 compared to fiscal 1995 year end reflecting annual premium costs on the Company's commercial insurance coverages which were billed, but not payable in accordance with their terms, until the beginning of the second quarter. Other current liabilities increased to $488,790 at the end of the first quarter compared to $464,186 at the end of fiscal 1995 primarily due to accrued interest on the note payable to KYMCO. Long-term debt declined $21,582 during the first quarter of fiscal 1996 due to scheduled principal payments on the Company's mortgage debt and commercial debt associated with leasing activities by UQM Leasing, Inc. Common stock and additional paid-in capital increased to $107,162 and $19,406,282 at January 31, 1996, respectively, compared to $105,720 and $18,887,886 at October 31, 1995. The increase is attributable to the sale of common stock to Invacare Corporation, and issuances of common stock under the Company's stock option and employee stock purchase plans. RESULTS OF OPERATIONS The Company's operations during the first quarter of fiscal 1996 were primarily directed toward production engineering, component sourcing, and manufacturing process engineering of low voltage commercial products. Substantially all of these activities were funded from the Company's existing cash resources and were charged to expense as incurred in accordance with generally accepted accounting principles. As a result operations for the quarter resulted in a net loss of $795,370 or $0.07 per share versus a net loss of $531,860 or $0.05 per share for the comparable quarter last year. Contract services revenue for the quarter declined substantially to $188,679 compared to $842,630 for the comparable prior year quarter. Product sales during the first quarter of fiscal 1995 were $115,633 a decline of $69,956 from the comparable prior year level of $185,589. The reduced level of product sales is due to fewer sales of prototype propulsion system hardware to original equipment manufacturers for evaluation and testing during the first quarter of fiscal 1996 versus the comparable prior year quarter. Cost of revenues for the fiscal 1996 first quarter exceeded the revenue derived from the sale of the associated products and services by $39,853 due to cost overruns on certain sponsored research projects and writedowns of certain raw material component costs held in inventory to current market values. Research and development expenditures declined to $286,947 for the quarter ended January 31, 1996 from $370,242 for the comparable prior year quarter due to lower levels of cost sharing expenditures under the Company's development contract with Ford Motor Company and the U. S. Department of Energy. General and administrative costs rose $78,076 during the fiscal 1996 first quarter versus the comparable prior year quarter. The increase is primarily attributable to higher levels of legal expense, business development activities and the launch of an investor communications program. Depreciation and amortization expense increased to $92,886 for the quarter ended January 31, 1996 primarily due to depreciation of a vehicle leased by UQM Leasing, Inc. over the three year term of the associated vehicle lease agreement. Interest income was $25,703 for the first quarter of fiscal 1996, an increase of $15,037 over the comparable prior year quarter. The increase is attributable to higher levels of invested cash during the fiscal 1996 first quarter. Interest expense was $55,574 for the first quarter of fiscal 1996, an increase of $35,497 over the prior year quarter. The increase is primarily attributable to interest accruals on the note payable to KYMCO. Equity in loss of Taiwan joint venture rose to $8,885 for the three months ended January 31, 1996, reflecting the Company's 39 percent share of losses incurred by Taiwan UQM Electric Co., Ltd. LIQUIDITY AND CAPITAL RESOURCES The Company's cash balances and liquidity throughout the first quarter of fiscal 1996 were adequate to meet operating needs. Working capital (current assets minus current liabilities) was $974,931 at January 31, 1996 versus $1,193,000 at October 31, 1995. During the first quarter of fiscal 1996 the Company sold to Invacare Corporation 129,032 shares of the Company's common stock at a price of $3.88 per share. Net proceeds to the Company were $500,000. Contingent upon the achievement of certain conditions, Invacare has agreed to make an additional investment in the Company through the purchase of common stock from the Company at market price. The additional investment will be in the approximate amount of 50 percent of the mutually agreed product launching costs required to be made by the Company for production tooling, equipment and product launching costs for the manufacture of products to be sold to Invacare. In addition, the proceeds from the additional investment by Invacare will be restricted as to their use. The Company does not currently possess the financial resources to fund its 50 percent share of the costs to launch production for Invacare; however management believes that it can acquire the capital required to meet its obligation pursuant to the agreement with Invacare through commercial debt or lease financing, although it currently has no commitment for such financing. During 1994 the Company, KYMCO and TLT entered into a joint venture agreement providing for the formation, funding and operation of Taiwan UQM Electric Co., Ltd. Under the initial provisions of the joint venture agreement the Company purchased 39 percent of the initial capital of Taiwan UQM for $45,082 and agreed to invest 39 percent of any additional capital calls. During 1995 the Company was unable to make payments for additional capital call obligations under the joint venture agreement. During the third quarter of fiscal 1995 the Company, KYMCO and TLT entered into a waiver and option agreement whereby KYMCO agreed to first purchase those shares of Taiwan UQM underlying the Company's additional capital call obligations in the amount of $1,403,493. Under the waiver and option agreement the Company has the option to repurchase these shares from KYMCO for the additional capital call amount plus interest at 10 percent per annum. It is the intent of management to repurchase the shares and maintain the Company's equity interest in Taiwan UQM at 39 percent. The purchase by KYMCO of the shares related to the Company's additional capital call obligations has been accounted for as a financing arrangement. Accordingly, for financial reporting purposes the Company has recorded an investment in joint venture equal to 39 percent of the current net assets of Taiwan UQM and a note payable to joint venture equal to the amount payable to KYMCO under the waiver and option agreement including accrued interest thereon. The Company does not currently possess the financial resources to meet this obligation on a timely basis, although the Company intends to do so if capital becomes available on terms acceptable to the Company. Accordingly, the Company intends to seek an extension of the May 31, 1996 payment date to December 31, 1996. However, there can be no assurance that such an extension can be obtained, or if obtained that the Company will then possess the financial resources to maintain its ownership interest in Taiwan UQM at 39 percent. Should the Company not meet its obligation under the joint venture agreement and the waiver and option agreement, Taiwan UQM would nevertheless be obligated to obtain a royalty bearing license from the Company in order to gain manufacturing rights to the Company's proprietary technologies. During February 1996 the Company sold 181,000 shares of common stock to various overseas institutional investors at an average price of $4.69 per share under Regulation S. Net proceeds to the Company were approximately $806,000. The Company may require additional capital beyond that discussed above to complete its long-term business plan. The Company hopes to meet future capital requirements through the issuance of equity or debt securities or a combination of both, although, there can be no assurance that such financing can be arranged. In the event the Company is unwilling or unable to arrange such financing, management would defer, abandon or modify implementation of the Company's business plan. In addition, the Company plans to continue to pursue the commercialization of its proprietary technologies directly, if financing can be obtained, or indirectly by means of strategic alliances or licensing arrangements with leading companies in the field. Item 6. Exhibits and Reports on Form 8-K (a) Exhibits None. (b) Reports on Form 8-K None. 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. Unique Mobility, Inc. Registrant Date: March 14, 1996 By:/s/ Donald A. French Donald A. French Treasurer and Controller (Principal Financial and Accounting Officer) EX-27 2 FINANCIAL DATA SCHEDULE
5 THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE CONSOLIDATED BALANCE SHEETS OF UNIQUE MOBILITY, INC. AND CONSOLIDATED SUBSIDIARIES AS OF JANUARY 31, 1996 AND OCTOBER 31, 1995 AND THE CONSOLIDATED STATEMENTS OF OPERATIONS FOR THE QUARTER ENDED JANUARY 31, 1996 AND JANUARY 31, 1995 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. 3-MOS YEAR 3-MOS OCT-31-1996 OCT-31-1995 OCT-31-1995 JAN-31-1996 OCT-31-1995 JAN-31-1995 2,068,475 2,115,499 0 0 0 0 370,737 337,849 0 0 0 0 444,495 667,115 0 3,102,277 3,226,063 0 3,810,052 3,817,106 0 1,346,473 1,275,530 0 7,476,079 7,678,599 0 2,127,346 2,033,063 0 785,421 807,003 0 0 0 0 0 0 0 19,513,444 18,993,606 0 (15,339,508) (14,544,138) 0 7,476,079 7,678,599 0 115,633 0 185,589 304,312 0 1,028,219 344,165 0 837,844 1,044,194 0 1,532,945 (86) 0 7,057 0 0 0 55,574 0 20,077 (795,370) 0 (531,860) 0 0 0 (795,370) 0 (531,860) 0 0 0 0 0 0 0 0 0 (795,370) 0 (531,860) (.07) 0 (.05) (.07) 0 (.05)
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