-----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, I1oyQYZRYGEVV9KsMrK2uILFQ5GvLnQnXuGvIwugogEMdW78r87M+4eGgm8lbgng MeOWBMULKkQBMELKk5y+7g== 0001199073-10-000726.txt : 20100810 0001199073-10-000726.hdr.sgml : 20100810 20100810171547 ACCESSION NUMBER: 0001199073-10-000726 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20100810 FILED AS OF DATE: 20100810 DATE AS OF CHANGE: 20100810 FILER: COMPANY DATA: COMPANY CONFORMED NAME: COPERNIC INC CENTRAL INDEX KEY: 0000839435 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC. [7370] IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-17164 FILM NUMBER: 101005788 BUSINESS ADDRESS: STREET 1: 360 FRANQUET STREET STREET 2: SUITE 60 CITY: QUEBEC STATE: A8 ZIP: G1P 4N3 BUSINESS PHONE: (418) 527-0528 MAIL ADDRESS: STREET 1: 360 FRANQUET STREET STREET 2: SUITE 60 CITY: QUEBEC STATE: A8 ZIP: G1P 4N3 FORMER COMPANY: FORMER CONFORMED NAME: MAMMA COM INC DATE OF NAME CHANGE: 20040319 FORMER COMPANY: FORMER CONFORMED NAME: INTASYS CORP DATE OF NAME CHANGE: 19970516 FORMER COMPANY: FORMER CONFORMED NAME: SMARTEL COMMUNICATIONS CORP DATE OF NAME CHANGE: 19950714 6-K 1 d6k.htm COPERNIC INC. FORM 6-K d6k.htm
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 6-K 
 
REPORT OF FOREIGN PRIVATE ISSUER
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934 
 
For the month of August 2010
Commission File Number 0-17164
Copernic Inc.
(Translation of registrant's name into English)
 
388 St. Jacques Street West, 9th Floor,
Montreal, Quebec H2Y 1S1
(Address of principal executive offices)
 
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
 
 Form 20-F
 x
 Form 40-F
 o
 
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): _______________
 
Note : Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.
 
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): _______________
 
Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.
 
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
 
 Yes
o
 No
  x
 
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-_______________.
 
 
 
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.
 
  Copernic Inc.  
 
(Registrant)
 
  
Date: August 10, 2010
By:
/s/ Marc Ferland  
    Name: Marc Ferland  
    Title:  Marc Ferland, President and CEO  
       
 
 
EXHIBIT INDEX
 
Exhibit No.
  
Description
  
       
99.1
  
Copernic Inc. Announces 2010 Second Quarter Results
 
 

 

 
 
 
 
 EX-99.1 2 ex99_1.htm COPERNIC INC. ANNOUNCES 2010 SECOND QUARTER RESULTS ex99_1.htm
Exhibit 99.1
 
Graphic
 
Copernic Inc. Announces 2010 Second Quarter Results

Quebec City, Canada, August 10, 2010 - - Copernic Inc., (the “Company”), (NASDAQ: CNIC), a leading software development company in the technology sector, specializing in internet, desktop and mobile search products, today reported its financial results for the second quarter ended June 30, 2010 (‘‘Q2 2010’’). Unless otherwise stated, all figures in this release are in US dollars.

Financial Highlights

§  
Revenues from continuing operations were $0.41 million for Q2 2010, the same as for Q2 2009.

§  
Gross margin from continuing operations in Q2 2010 was 98% compared to 96% for Q2 2009.

§  
Expenses from continuing operations in the second quarter of 2010 were at $0.87 million compared to 1.2 million in the comparable period in 2009. During Q2 2010, an amount of $0.12 million was spent in relation with potential business acquisitions. Excluding these fees, expenses for Q2 2010 amounted to 0.75 million. The Company continues its effort to reduce its costs and maintains its cost reduction plan.

§  
Net loss from continuing operations in Q2 2010 was $0.5 million ($0.22 per share) compared to a net loss of $0.38 million ($0.18 per share) for the same period in 2009.

§  
Liquidities sufficient to meet normal operating requirements until end of 2010 were at $2.5 million as of June 30, 2010, compared to $4.8 million as of June 30, 2009.

Recent Highlights

§  
As announced on March 26, 2010, Copernic Inc. entered into a letter of intent with Fanotech Manufacturing Group (‘‘Fanotech’’) with respect to the proposed acquisition by Copernic of the assets of Fanotech Manufacturing Group comprised of Fanotech Enviro Inc., Fanotech Waste Equipment Inc. and 1099958 Ontario Limited currently operating as FanoCore. This transaction was conditional amongst other things to the closing of the Sunbay transaction and the private placement previously announced on January 29, 2010, which did not closed on April 30, as previously agreed. Therefore the Company announced on June 3, 2010 that discussions involving the acquisition of Fanotech, Sunbay Canada and the private placement were terminated.

§  
On June 30, 2009, the Company concluded a $5,000,000 transaction for the disposal of its search / media segment with Empresario. The payment terms of this transaction were renegotiated and signed on November 12, 2009 to 36 equal monthly instalments of the greater of $100,000 or 85% of the revenues at an annual interest rate of 13.6%, compounded monthly, and calculated on the outstanding balance of sale. During Q1 and Q2 2010, the purchaser was $300,000 short on the $600,000 payments scheduled for these quarters and was in default in his obligations. Based on this failure to pay, management renegotiated a new agreement with the purchaser. On August 10, 2010, Copernic and Empresario signed an agreement to convert the existing balance of sale into a debenture which shall mature on August 10, 2011. The debenture will not bear interest until maturity or upon default and no instalment payments would be required to be made during its term. Upon maturity, if the outstanding amounts due under the debenture are not paid in full, the
 
 
 
 
 
 

 
Company will have the right to require the liquidation of Empresario. Under the terms of the debenture, Empresario has the right to redeem the debenture for an amount equal to $2,500,000 if redeemed by February 10, 2011, or for an amount equal to $3,000,000 if redeemed after February 10, 2011 but prior to August 10, 2011 or for an amount of all the outstanding principal if redeemed thereafter. Interest at the rate of 13.6% will be earned on the outstanding balance from the maturity date or upon a default. The new debenture has a fair market value of $2,835,000 while the book value of the balance of sale was $4,273,287. A write down of $1,438,287 was accounted for in June 2010.
 
“Unfavorable economic conditions have also impacted on Empresario’s ability to pay, thereby necessitating a change of payment terms offset by an improvement in our security instruments. However in the last 12 months, Empresario did manage to pay $700,000. In addition, our unfavourable sales results continue to mitigate against our cost improvement programs, leading management to explore other alternatives to improve shareholder value”, stated Mr. Marc Ferland, President and CEO of Copernic.

About Copernic Inc.

Copernic Inc. specializes in developing, marketing and selling cutting-edge search technology, providing innovative home and business software products and solutions for desktop, web and mobile users, through its online properties www.copernic.com and www.mycopernic.com. With its award winning Copernic Desktop Search software search engine product, the Company brings the power of a sophisticated, yet easy-to-use search engine to the user's PC.

More information can be found at www.copernic.com.
 
Statements contained in this press release, which are not historical facts, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties that can cause actual results to differ materially from estimated results. Such risks and uncertainties are detailed in the Company’s filings with the Securities and Exchange Commission and the Ontario Securities Commission. The Company expressly disclaims any intent or obligation to update any description of the scope, focus or subject matter of the statements in this press release.
 
FOR INFORMATION PLEASE CONTACT:
 
Copernic Inc.
Jean-Rock Fournier, CA
Executive Vice President and Chief Financial Officer
Telephone Toll Free:  (877) 289-4682
Telephone:  (418) 527-0528 ext. 1271
Email:  jrfournier@copernic.com
Website:  www.copernic.com
 
 
 
 
 

Copernic Inc.
            
Condensed Consolidated Balance Sheet
            
             
(expressed in U.S. dollars and in accordance with generally accepted accounting principles in Canada)
  
As at
June 30, 2010
    
As at
 December 31, 2009
  
   
(unaudited)
    
(audited)
  
      $       $  
Assets
                
Current assets
                
Cash
     594,039       465,949  
Temporary investments
     1,956,330       3,504,930  
Accounts receivable
     272,831       256,110  
Income taxes receivable
     213,305       337,802  
Balance of sale receivable
     -       655,131  
Prepaid expenses
     323,945       118,149  
Other assets
     2,900,637       -  
      6,261,087       5,338,071  
Balance of sale receivable
     -       3,694,060  
Property and equipment
     93,333       115,110  
Intangible assets
     165,859       202,597  
Goodwill
     3,362,003       3,362,003  
      9,882,282       12,711,841  
Liabilities
                
Current liabilities
                
Accounts payable and accrued liabilities
     661,424       1,010,140  
Deferred revenue
     122,723       103,668  
Deferred rent
     569       1,534  
Current portion of obligations under capital leases
     15,495       50,630  
      800,211       1,165,972  
Obligations under capital leases
     10,591       7,906  
Future income taxes
     36,577       45,146  
Commitments
                
Shareholders’ equity
                
Capital stock
                
Authorized
                
Unlimited number of common shares, no par value
                
Issued and outstanding
                
2,091,913 (2,091,437 as at December 31, 2009) common shares
     96,557,218       96,556,485  
Contributed Surplus
     5,928,600       5,853,737  
Accumulated other comprehensive income
     561,137       561,137  
Accumulated deficit
     (94,012,052 )     (91,478,542 )
      9,034,903       11,492,817  
      9,882,282       12,711,841  
 
 
 
 
 
 

 
Copernic Inc.
        
Condensed Consolidated Statements of Operations
      
(unaudited)
        
 (expressed in U.S. dollars and in accordance with generally accepted accounting principles in Canada)
    
 
   
For the six months ended
June 30,
    
For the three months ended
June 30,
  
   
2010
    
2009
    
2010
    
2009
  
      $       $       $       $  
Revenues
     724,692       926,790       413,057       413,360  
Cost of revenues
     17,181       29,443       8,939       16,243  
Gross Margin
     707,511       897,347       404,118       397,117  
Expenses
                                
Marketing, sales and services
     298,469       285,150       144,175       120,912  
General and administration
     1,170,976       1,146,610       570,164       531,932  
Product development and technical support
     461,910       556,941       186,983       280,367  
Amortization of property and equipment
     31,247       54,231       13,817       28,235  
Amortization of intangible assets
     38,837       355,864       19,534       178,106  
Gain on disposal of property and equipment
     (2,827 )     -       (2,827 )     -  
Gain on disposal of intangible assets
     (9,960 )     -       (9,960 )     -  
Restructuring charges
     -       25,622       -       5,210  
Interest and other income
     (223,947 )     (23,682 )     (72,785 )     (9,263 )
Gain on disposal of an investment
     -       (169,239 )     -       -  
Loss on foreign exchange
     41,614       10,008       22,479       17,993  
      1,806,319       2,241,505       871,580       1,153,492  
Loss from continuing operations before income taxes and discontinued operations
     (1,098,808 )     (1,344,158 )     (467,462 )     (756,375 )
                                 
Current income taxes
     -       1,498       -       -  
Future income taxes
     (8,569 )     (558,645 )     (4,284 )     (379,691 )
      (8,569 )     (557,147 )     (4,284 )     (379,691 )
Loss from continuing operations
     (1,090,239 )     (787,011 )     (463,178 )     (376,684 )
Results of discontinued operations, net of income taxes
     (1,443,271 )     4,424,926       (1,443,271 )     4,144,769  
Net income (loss) for the period
     (2,533,510 )     3,637,915       (1,906,449 )     3,768,085  
Basic and diluted loss / share - continuing operations
     (0.52 )     (0.38 )     (0.22 )     (0.18 )
Basic and diluted earnings (loss) / share - discontinued operations
     (0.69 )     2.12       (0.69 )     1.98  
Basic and diluted net earnings (loss) / share
     (1.21 )     1.74       (0.91 )     1.80  
                                 
 

 
 
 
 


Copernic Inc.
      
Condensed Consolidated Statements of Cash Flows
    
(Unaudited)
        
(expressed in U.S. dollars and in accordance with generally accepted accounting principles in Canada)
    
 
                         
   
For the six months ended
June 30,
    
For the three months ended
June 30,
  
   
2010
    
2009
    
2010
    
2009
  
      $       $       $       $  
Cash flows from (used for)
                                
Operating activities
                                
Loss from continuing operations
     (1,090,239 )     (787,011 )     (463,178 )     (376,684 )
Adjustments for
                                
Amortization of property and equipment
     31,247       54,231       13,817       28,235  
Amortization of intangible assets
     38,837       355,864       19,534       178,106  
Employee stock-based compensation
     74,863       55,226       53,651       29,681  
Gain on disposal of an investment
     -       (169,239 )     -       -  
Gain on disposition of intangible
     (9,960 )     -       (9,960 )     -  
Future income taxes
     (8,569 )     (558,645 )     (4,284 )     (379,691 )
Accreted interest on balance of sale receivable
     (217,603 )     -       (70,413 )     -  
Unrealized loss (gain) on foreign exchange
     164       3,706       (955 )     5,744  
Net change in non-cash working capital items
     (428,646 )     41,371       (410,316 )     (165,588 )
Cash used for operating activities from continuing operations
     (1,609,906 )     (1,004,497 )     (872,104 )     (680,197 )
Cash provided by (used for) discontinued operations
     (4,984 )     583,704       (4,984 )     303,092  
Cash used for operations
     (1,614,890 )     (420,793 )     (877,088 )     (377,105 )
                                 
Investing activities
                                
Increase in other assets
     (65,637 )     -       (65,637 )     -  
Proceeds on the disposal of an investment
     -       169,239       -       -  
Proceeds on the disposal of an intangible
     9,960       -       9,960       -  
Purchase of intangible assets
     (2,099 )     (3,224 )     (326 )     (2,622 )
Purchase of property and equipment
     (3,357 )     (23,474 )     (1,007 )     (12,549 )
Net decrease in temporary investments
     -       3,005,227       -       4,006,563  
Cash provided by (used for) continuing operations
     (61,133 )     3,147,768       (57,010 )     3,991,392  
Cash provided by discontinued operations
     293,507       -       48,390       -  
Cash provided by (used for) investing activities
     232,374       3,147,768       (8,620 )     3,991,392  
                                 
Financing activities
                                
Issuance of capital stock
     733       -       -       -  
Repayment of obligations under capital leases
     (38,727 )     (27,543 )     (20,217 )     (14,056 )
Cash used for financing activities
     (37,994 )     (27,543 )     (20,217 )     (14,056 )
Net change in cash and cash equivalents during the period
     (1,420,510 )     2,699,432       (905,925 )     3,600,231  
Cash and cash equivalents – Beginning of period
     3,970,879       2,067,705       3,456,294       1,166,906  
Cash and cash equivalents – End of period
     2,550,369       4,767,137       2,550,369       4,767,137  
Cash and cash equivalents comprise:
                                
Cash
     594,039       766,782       594,039       766,782  
Temporary investments
     1,956,330       4,000,355       1,956,330       4,000,355  
      2,550,369       4,767,137       2,550,369       4,767,137  
Supplemental cash flow information - continuing operations
                                
Cash paid for interest
     3,206       4,999       1,539       2,436  
Cash paid for income taxes
     -       1,498       -       -  

-30-
 
 
 
 
 
 GRAPHIC 3 logo.jpg GRAPHIC begin 644 logo.jpg M_]C_X``02D9)1@`!`@$`2`!(``#_P``1"``L`+\#`2(``A$!`Q$!_]L`A``% M`P,$`P,%!`0$!04%!@<-"`<'!P<0"PP)#1,0%!,2$!(2%1<>&146'!82$AHC M&AP?("$B(109)2(2$@`04%!0<&!P\("`\@%1(5%2`@("`@("`@("`@ M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("#_Q`&B```! M!0$!`0$!`0```````````0(#!`4&!P@)"@L0``(!`P,"!`,%!00$```!?0$" M`P`$$042(3%!!A-180'EZ@X2% MAH>(B8J2DY25EI>8F9JBHZ2EIJ>HJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V]_CY^@$``P$!`0$!`0$!`0````````$" M`P0%!@<("0H+$0`"`0($!`,$!P4$!``!`G<``0(#$00%(3$&$D%1!V%Q$R(R M@0@40I&AL<$)(S-2\!5B7J"@X2%AH>(B8J2DY25EI>8F9JB MHZ2EIJ>HJ:JRL[2UMK>XN;K"P\3%QL?(RKR M\_3U]O?X^?K_V@`,`P$``A$#$0`_`/LND)([5R_Q1^)VA?"/P?>>)_$$Q2UM MP%2-/OS2'[L:#N3^@!/0&OC>;]J;X^_'3Q#/8_#;39-/MTY$&GVR2M&G8R32 M#`^ORB@#[OW'N/RI=W;%?(GPJU#]JS2?B1H&G^,$OFT.\N@M[+<06\T:1`%G MR\?*'`(&<TW5/VQ?&FD#Q1I\]_#:2IYL$(CM;W<^ M];WP(_;;U^+Q?'X+^+5O'#+),_M?\`Q)\4?"GX3P^(/"E^ECJ!U.&W9VA24;&60D88$=0.<9XK MPG0?VR_B=XO\':/X5\(Z<^M^.KII3>WJV:D1)YAV!(P`N=N,LWRCCW(`/MS) M]*4=*^`?%?Q8_:F^#ES;ZOXON=1@M)),#[5;02V[G^XS(,+GGC()[>M?4_[- M?[0=A\>O"4ET;>.RUJP*QZA:*V0I/W73/.QL'Z$$4`>K$X].*3<>PKYP_:=_ M:VN?AGK2^"/`UG%J7BAPHGD9?,2U+?<0(/O2'(X/`R.N<#SB^C_;)TW1W\43 M7MT8D3SWM(UM6D5>I)A"Y_#K0!]L#..::6PU\26<7G*T(VQW<0.&8+V89&1WSD8KA?V@/VE_'GPR_:,@\-6>NPVOAI9+) M[B%K.)L1MM,F7*[N1N[\4`?70?G&031OP<8KX4U_]ISXV?%OQ?+S\ M.6UR(XTT[3C,=F>LK[3\Q')7@#(],UV7[7'[1_Q"^$GQ>L]$\-ZU%9Z4^FPW M,D;6<4OS&216Y92>0HH`^NLGIBC)';BOC#Q)\?\`X]_'*^OKCX/Z!?67AFUD M,<5Q#;Q^9/CN7DXSWVKTR,U@?"K]LWXA^`O'2>'OBE)+>V"W'V>]%W;+#@#ZO_:!\%ZY\0_A%K_AOPU="WU2[A40DN4#[75C&2.FY5*Y M/K7CW[$GP)\?_"74?$%_XNM_[,M;R%(8;$W"2%W#9\PA20,#(!ZG<$$'@_K7D?[$_P`,- M4BOET^.W-N$M8X=F\R;ON*,_<'7TH`^E@QP21^E*":^?OVG?VNK/X*SCPWX> MM8-4\2R('D$I/DV8/W=X!RS$HV]T\7+"-L\=F'JO^T./>O) M_P!FJ[^*WBCPCXALOB_%<1S+.+.V66V6"4H8_G.5P&!W*`P[@\UV7@7X6KX/ MUV\U4WZW$EPLH(6':&:27S)'.2<9(4!5PHP>,DF@#YA_X*0^)+N3Q'X4\-"0 MK9Q6DE\5[,[/L!/T"''^\:^A?V5?`VF^"O@3X72RA19M2L(M1NY0/FEDF0/\ MQ[[0P4>RUXU_P43^&U[JFDZ'XZLH6EATX-97^T9\M&8-&Y]@VX$_[:U:_9(_ M:P\)Q>`-/\$^,]6@T?4])C^SVMQ=-MAN(1]P;^BLHPN&QD`8R<@`'U80`>.O M:OS=\*VH^+O[8R0ZYB>"]\2322QRG%?>-M\;OAW?Z[8Z M%9>,=&O=2OI?*M[>UN5F9S@G^'..`>3BOA+XJZ3JO[.'[4+:^+21K6/5?[6L MB!@30.Y+*#T[LA]"*`/T>$:A0H&T`8&.,"O@7_@H5X5LM"^+FFZQ9QK$VK:: MKW`7C=)&Q3=CW78/^`U]@^'/CY\.?$WA=/$5IXPT:*R,>^03W21R0G&2KJQ! M!'ICGMVKX:_:,\>3?M,?'>VLO!UO+>6Z*FEZ6-I!F`8EI<'H-S$Y/15!/?`! M[/\`M*ZW=>)/V)/!NJWSF2YNCI[S.>KMY+@M^/7\:O\`_!.;PS80?#W7O$0@ M0ZA>_L+?M`>&?`&GZEX+\5:A!I<5Y=?;+*\N&VQ;BBJR,W1?NJ03@')' MI0!]??$SPGI_C7P!KF@ZE&LEM>6,B'Z7.DR#D?(5=3^!4@?6OI?]H7]J/P7X'\`ZG;:+XBL-4UZ]MG@LX+&=93 M&S#'F.5.%"@DX[X`[UXE_P`$[OAM>WGBK5O'5U`R6%I:FQMG9>)97(+D>N%7 M!/\`M4`>.>#OBX/#/QWN/B-K6BG7IDOKB[^S&38!(Q(5\X;[N>..,"OH`_\` M!1QB5/\`PK:;@X_Y"7]?+^M>264T_P"RI^U#-/K.G/<:;;74@*^6"9K.7.V1 M,\$@$'TRI%?;_A_XR?"?Q/IJ:AI_BSPP8I%W$37,43K[,KD$'V(H`^'?V>_$ MLM]^UCI&O:9ITFFVVIZM,QME^811S*^4)P.!GT[5;_;L0O\`M%7R=,V%L!GI MS'@5]S^%/B)X!\9:Y.ALK3_T"@#[S^&_@[2_`W@71]`TFV2"UM+5%`4#YFVC1\@6'ASX7>&=+TZ!8+:+2X-J`=24!)/N223[FOBW_`(*'Z3:V/QCTR^@C M5);S1T:23PG:.[$\DF.,DUY'_P38XN_'!](K0_K+7K M/Q(_Y,??_L4;/M_TRBKR?_@FN,WGC<$<>5:?SE_PH`\E^$MA#\;_`-J^U?Q$ M!<6^HZO/>SQR#*ND8>58R/[OR!<>E?I/'&B(J*H"J,`#H*_-3QA::U^RY^TN M^II:,8[#46O+,-\JW-K(3\H;'=&9"<<$'BON/PA^TW\*_&&C1ZC;>,M)LWJ,CWH`])V"D"*%VXR,8YK`\&_$;PQ\0H+NX\+:U9ZM!9S M>1-+;L617VAL9Q@\$(=0DO-#U'5/#WF,6-M"5FA7/7:K?,![9QZ8KZ3HQ0! M\Z_#']A+P=\._%6G>))/$&M:E?:=.L]NI"0Q[E.1N`!)'XUZY\3/A)X2^+NA M#2/%>F+>1QDM!,I*2P-W*..GTZ'TKK=H["C`H`^4KG_@F_X4DO?,MO&FMPVV M>(F@C=P/0-P/TKV3X._LW>`_@HC3^'["6?4I$V2:A>.))B/[H(`"CV4#\:]) MVBEZ4`?._P#P4$&/@+&!_P!!FW_]!DKRO]E?]GKP=\<$<"=/U-9]7\3ZSJ=JC`BV5$@W#T9ADX^F.M?2/AC MPMH_@[1+;1=!TZWT[3[5=D-O`FU5'\R3W)Y-:6T4M`'$?%;X)>"_C-I4=AXK MTO[0\&?L]S$WESP9Z[6';@<'(X'%>#W'_!-[PJUR7M_&VMQP$\1O;1LV/][C M^5?5^`>#TI`H'04`>2_!#]EKP?\``K4KC5=$O-5O-1N+*S?BW^Q]X0^,'CB7Q;K&KZS;7DD4<1CMFC"`(,#JA.?QKVW%&!0!'; M0BVMHH5)(C0*,^PQ7CWQI_9,\)_'#Q;%XDUS5=7M;F*T2T6.T:,)M5F8'YD) MSES^E>R@8HP*`*FC:9%HNCV6F0L[16END",_4A5"@GWXKROXW_LL>%OCMXAL M]:UW4]6M)[2U^RQK:,@4C<6R=RGG+&O7^G%&!0!R&M_"S2]>^%'_``KFXNKM M-,_LV+3O.0KYOEQJJ@YQC=\H[8]JYSX%?LW>'/@%-JTF@:EJ=X=3$:S"[9"% MV;L8VJ/[Q_2O4<#&*-H`P!Q0!QOQ1^#7@_XQ:.NG>*]*6Y\K/V>XC/ES6Y]4 M<=.@X.0>X->"77_!-[PG)=%[7QIK<,!.1&\$;L!_O<#]*^K=HHVCN*`/._@; G\`O#GP&TB^L-`O-1N_M\B27$EW(K9900-H4`+P37HHZ48[44`?_9 ` end -----END PRIVACY-ENHANCED MESSAGE-----