-----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, IuDLAGd1Sh43t8IokaRrPqa8oetl6N1Evvjo+s6WsqyLwQMtdA1NvKrtdjzeuQmB HuWbyujajFTmNI3HlkHWlA== 0000930661-99-001061.txt : 19990511 0000930661-99-001061.hdr.sgml : 19990511 ACCESSION NUMBER: 0000930661-99-001061 CONFORMED SUBMISSION TYPE: 10QSB PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 19990331 FILED AS OF DATE: 19990510 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ADDVANTAGE MEDIA GROUP INC /OK CENTRAL INDEX KEY: 0000874292 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-PROFESSIONAL & COMMERCIAL EQUIPMENT & SUPPLIES [5040] IRS NUMBER: 731351610 STATE OF INCORPORATION: OK FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10QSB SEC ACT: SEC FILE NUMBER: 033-39902-FW FILM NUMBER: 99616134 BUSINESS ADDRESS: STREET 1: 5100 E SKELLY DR STREET 2: MERIDIAN TOWER SUITE 1080 CITY: TULSA STATE: OK ZIP: 74135-6552 BUSINESS PHONE: 9186658414 MAIL ADDRESS: STREET 1: 5100 EAST SKELLY DRIVE STREET 2: MERIDIAN TOWER SUITE 1080 CITY: TULSA STATE: OK ZIP: 74135 10QSB 1 FORM 10QSB UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-QSB [x] QUARTERLY REPORT UNDER SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 1999 [ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT For the transition period ________________ to ______________ Commission File number 1-10799 ADDVANTAGE MEDIA GROUP, INC. (Exact name of small business issuer as specified in its charter) OKLAHOMA 73-1351610 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 5100 East Skelly Drive Meridian Tower, Suite 1080 Tulsa, Oklahoma 74135-6552 (Address of principal executive office) (Zip Code) (918) 665-8414 (Registrant's telephone number, including area code) NONE (Former name, former address and former fiscal year, if changed since last report) Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 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 ___ --- Shares outstanding of the issuer's $.01 par value common stock as of May 11, 1999 is 1,476,646. Transitional Small Business Issuer Disclosure Format (Check one): Yes ___ No x --- PART I. FINANCIAL INFORMATION Item 1. Financial Statements ADDVANTAGE MEDIA GROUP, INC. BALANCE SHEETS March 31, 1999 and December 31, 1998
1999 1998 ---------------------------- (UNAUDITED) ASSETS Current assets: Cash and cash equivalents $ 243,646 $ 421,722 Accounts receivable 82,716 124,777 Other current assets 12,780 13,434 ---------------------------- Total current assets 339,142 559,933 Property and equipment, at cost: Calculators 722,905 722,905 Office and production equipment 842,521 840,596 Furniture and fixtures 99,732 100,332 ---------------------------- 1,665,158 1,663,833 Accumulated depreciation 501,386 489,152 ---------------------------- 1,163,772 1,174,681 Patent, net of accumulated amortization of $740,665 and $717,961 at March 31, 1999 and December 31, 1998, respectively 167,445 190,150 Investment in Ventures Education Systems Corporation 786,251 883,626 Other assets 278,030 280,196 ---------------------------- Total assets $ 2,734,640 $3,088,586 ============================
2 ADDVANTAGE MEDIA GROUP, INC. BALANCE SHEETS March 31, 1999 and December 31, 1998
1999 1998 ---------------------------------- (UNAUDITED) LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 36,710 $ 45,604 Other accrued liabilities 84,588 18,786 ---------------------------------- Total current liabilities 121,298 64,390 Long-term obligations 395,637 359,495 Shareholders' equity: Preferred Stock, $1.00 par value, 1,000,000 shares authorized, none issued Common Stock, $.01 par value, 10,000,000 shares authorized, 1,476,646 shares issued and outstanding at March 31, 1999 and December 31, 1998, respectively 14,766 14,766 Capital in excess of par value 8,756,194 8,756,194 Accumulated deficit (6,553,255) (6,106,259) ---------------------------------- Total stockholders' equity 2,217,705 2,664,701 ---------------------------------- Total liabilities and stockholders' equity $ 2,734,640 $ 3,088,586 ==================================
3 ADDVANTAGE MEDIA GROUP, INC. STATEMENTS OF OPERATIONS (UNAUDITED) Three Months Ended March 31, 1999 and 1998
1999 1998 ------------------------------- Revenues: Advertising $ -- $ 2,916,001 Other 6,760 32,615 ------------------------------ 6,760 2,948,616 Costs and expenses: Cost of advertising services 59,902 1,044,684 Selling expenses 55,161 137,696 General and administrative expenses 242,893 404,388 ------------------------------ 357,956 1,586,768 ------------------------------ Operating income (loss) (351,196) 1,361,848 Equity in loss of Ventures Education Systems Corporation 95,800 -- Interest expenses -- 3,820 ------------------------------ Income (loss) before income taxes (446,996) 1,358,028 Provision for income taxes -- 524,768 Net income (loss) (446,996) 833,260 Preferred stock dividends -- (22,651) ------------------------------ Net income (loss) applicable to common stock $ (446,996) $ 810,609 ============================== Net income (loss) per share $ (0.30) $ 0.55 ============================== Shares used in computing net income (loss) per share 1,476,646 1,476,646 ==============================
4 ADDVANTAGE MEDIA GROUP, INC. STATEMENTS OF CASH FLOWS (UNAUDITED) Three Months Ended March 31, 1999 and 1998
1999 1998 ------------------------------------- OPERATING ACTIVITIES Net income (loss) $ (446,996) $ 833,260 Adjustments to reconcile net income to net cash provided by operating activities: Deferred income tax -- 441,787 Depreciation and amortization 36,514 241,354 Equity in loss of investment 95,800 -- Accrual of long-term obligations 36,142 32,856 Changes in assets and liabilities: Accounts receivable 42,061 1,247,767 Other current assets 654 13,266 Deferred charges 2,166 (46,937) Notes payable -- 333,724 Accounts payable (8,894) (292,640) Income taxes payable -- (22,326) Other accrued liabilities 65,802 (264,421) Unearned advertising revenue -- (194,402) ------------------------------------- Net cash provided by operating activities (176,751) 2,323,288 INVESTING ACTIVITIES Purchases of property and equipment (1,325) (615,136) ------------------------------------- Net cash used in investing activities (1,325) (615,136) FINANCING ACTIVITIES Payment of preferred stock dividends -- (22,651) ------------------------------------- Net cash used in financing activities -- (22,651) ------------------------------------- Increase (decrease) in cash (178,076) 1,685,501 Cash at beginning of period 421,722 2,003,165 ------------------------------------- Cash at end of period $ 243,646 $ 3,688,666 ===================================== Supplemental disclosures of cash information: Interest paid $ -- $ 3,820 =====================================
5 NOTES TO CONDENSED FINANCIAL STATEMENTS (UNAUDITED) NOTE 1 - BASIS OF PRESENTATION The accompanying unaudited condensed financial statements have been prepared in accordance with generally accepted accounting principles for interim financial statements and do not include all information and footnotes required by generally accepted accounting principles for complete financial statements. However, the information furnished reflects all adjustments, consisting only of normal recurring adjustments which are, in the opinion of management, necessary in order to make the financial statements not misleading. NOTE 2 - DESCRIPTION OF BUSINESS ADDvantage Media Group, Inc. (the "Company") markets and sells in-store advertising to national advertisers. This advertising is positioned on solar powered calculators attached to the handles of shopping carts. The patented calculators are marketed under the registered trademark "Shoppers Calculator(R)." On September 1, 1995, the Company and Wal-Mart Stores, Inc. ("Wal-Mart") entered into a four-year contract in settlement of a lawsuit related to prior contracts under which the Company would install and maintain Shoppers Calculator(R) in all of Wal-Mart's Supercenters in the continental United States and Wal-Mart was responsible for selling the advertising for the calculators during the initial phase of the contract. Under the contract, the Company had the right to retain 90% of the advertising revenue. During the last quarter of 1996, the Company assumed the responsibility for sales of advertising and this arrangement was formalized in an amendment to the Wal-Mart contract dated August 25, 1997. Wal- Mart agreed to guarantee advertising revenues to the Company of $23.5 million, subject to the Company's obligation to install and service the Shoppers Calculators(R) during the revenue guaranty period. In May 1998, the Company received the final revenue guarantee payment. The Company had the option to continue the contract to October 6, 1999, however, Wal-Mart notified the Company that it would not agree to a new contract or an extension of the current contract past its present term. Based on Wal-Mart's decision not to renew the present contract, the Company made the decision to commence de-installation of the Shopper Calculator(R) program beginning June 15, 1998. Such de-installation was completed by September 15, 1998. On September 2, 1998 the Company filed a civil complaint against Wal-Mart in the United States District Court for the Western District of Arkansas, Fayetteville Division, seeking both compensatory and punitive damages based on various allegations of wrongdoing by Wal-Mart. The lawsuit generally alleges that, at the direction of Wal-Mart's President and CEO, David Glass, Wal-Mart breached contracts with the Company, including a September 1, 1995 contract which was executed in connection with the settlement of claims which the Company had asserted against Wal-Mart in previous litigation. The lawsuit also alleges that based on a course of conduct approved by Mr. Glass, Wal-Mart is liable to the Company for misrepresentation, deceptive trade practices, injurious falsehood, and intentional interference with contractual relationships and business expectancies. The lawsuit also includes a claim for damages under the doctrine "promissory estoppel". 6 The civil complaint alleges that the Company has suffered substantial damages as a consequence of the conduct of Wal-Mart, as alleged in the lawsuit. The civil complaint does not, however, refer to a specific dollar amount of damages which the Company seeks to recover from Wal-Mart in the lawsuit. In response to the lawsuit, on October 6, 1998, Wal-Mart filed a counterclaim against the Company and a third-party complaint against Charles H. Hood, Gary Young, and unidentified "John Doe" defendants. In the counterclaim, Wal-Mart alleged that the Company was liable to Wal-Mart for unspecified compensatory and punitive damages on theories of promissory estoppel, breach of contract, defamation and deceptive trade practices. In the third-party complaint, Wal-Mart further alleged that Mr. Hood and Mr. Young were liable to Wal-Mart for unspecified compensatory and punitive damages for defamation. The Company expects to incur losses for the foreseeable future. Presently, business activity is being limited to selling units, which provides unpredictable cash flow, and contacting other retailers and advertisers about the Shoppers Calculator program. The Company has continued to downsize its staff and overhead requirements in order to continue with limited operational activity while the lawsuit against Wal-Mart is being processed. The Company believes that the outcome of the litigation which it has filed against Wal-Mart will likely have a material impact on its future and the future of the Shoppers Calculator(R) program. The Company is currently evaluating a number of options and opportunities which could include a merger, the sale of the Shoppers Calculator(R) assets or some other business alliance. NOTE 3 - INVESTMENT IN VENTURES EDUCATION SYSTEMS CORPORATION On September 1, 1998 the Company acquired a 27% interest in Ventures Education Systems Corporation, a private company engaged in the commercial development and marketing of proprietary teaching techniques, services, products and materials, principally to public primary and secondary schools. The Company paid $990,000 cash for the interest, which consists of 550,000 shares of common stock. Under the terms of the investment, the Company was able to designate one member of the Ventures Board of Directors. It is also contemplated that the Company may provide certain assistance in connection with the development of Ventures' future marketing and sales efforts and financial planning. Ventures is a development stage company formed in May of 1997 and is headquartered in New York, New York. Its innovative teaching methods, based on cognitive science precepts, focus on student-centered learning and are designed to improve student motivation. The products and services were developed from the methods and techniques developed by its not-for-profit affiliate, Ventures in Education, Inc., over a period of approximately 17 years. Its methods and techniques strived for improved literacy, logical and quantitative reasoning and problem solving skills. The company's principal customer base is comprised of those public schools which are eligible for Federal "Title I" funds. 7 Ventures Education Systems Corporation's operating results for the three months ended March 31, 1999 were as follows:
Three Months ended March 31, 1999 (Unaudited) ------------------ Total Revenues $ 344,481 Cost and Expenses 699,295 --------- Net Loss $(354,814) ========= ADDvantage Media Group, Inc. equity in the net loss for the period $ (95,800) =========
NOTE 4 - INCOME TAXES As a result of Wal-Mart's decision to terminate its contract with the Company, management has reevaluated the likelihood of realizing the deferred tax assets resulting from its net operating loss and tax credit carryforwards. During the second quarter of 1998 management determined that the Company no longer met the criteria to continue to recognize these tax carryforwards as assets. Consequently, the second quarter tax provision was increased to reverse the deferred tax asset. NOTE 5 - REVERSE STOCK SPLIT On October 7, 1998, the Company's shareholders approved an amendment to the Company's Certificate of Incorporation to effect a one for four reverse stock split. The amendment became effective at the close of business on October 8, 1998. As a result of the reverse stock split, the total number of issued and outstanding shares of the Company were reduced from 5,906,584 to 1,476,646. The number of shares held by each shareholder was reduced to an amount equal to 25% of the number owned prior to the effectiveness of the reverse split. The number of shares subject to outstanding options and warrants was reduced accordingly. The earnings per share and the shares outstanding have been reported herein on a post-split basis. 8 ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS RESULTS OF OPERATIONS Three Months Ended March 31, 1999 Compared to Three Months Ended March 31, 1998 - ------------------------------------------------------------------------------- The Company entered into a contract with Wal-Mart effective as of September 1, 1995, whereby the Company agreed to install and maintain its Shoppers Calculators in all of Wal-Mart's Supercenter stores in the continental United States. Under the contract, Wal-Mart guaranteed that the Company's share of advertising revenues would be $2,700 per installed store, per four-week advertising cycle, until a total of approximately $23,500,000 had been received by the Company. At June 30, 1998, the total amount of the revenue guarantee had been received, so therefore, the last half of 1998 and the first quarter 1999 did not include any revenue guarantee payments from Wal-Mart. The Company commenced de-installation of the Wal-Mart Supercenter program on June 15, 1998 and completed such de-installation approximately September 15, 1998. Advertising revenues decreased approximately $2,916,000 (100%) for the first quarter ended March 31, 1999, as compared to the three months ended March 31, 1998. During the second fiscal quarter of 1998 the Wal-Mart revenue guarantee was concluded with a final billing of $360,900 ($1,074 per store) for advertising cycle number six which ended on June 14, 1998. There were no significant advertising revenues earned after that date. Operating income (loss) decreased $1,713,000 in 1999, as compared to 1998. The Company's net loss applicable to Common Stock was $447,000 for 1999, as compared to net income of $810,600 for the same period last year. As a result of implementation of the September 1, 1995 Wal-Mart contract, 1995 earnings were increased by $3,910,000 from the accounting recognition of the future tax benefits of the Company's net operating losses and temporary differences aggregating $10,290,000 at December 31, 1995. The 1998 tax expense of $524,800 reflects the amortization of the deferred tax asset recognized in 1995. As a result of Wal-Mart's decision to terminate its contract with the Company, management has reevaluated the likelihood of realizing the deferred tax assets resulting from its net operating loss and tax credit carryforwards. During the second quarter of 1998, management determined that the Company no longer met the criteria to continue to recognize these tax carryforwards as assets. Consequently, the tax provision for the second quarter of 1998 was increased by $1,556,000. Costs of advertising services (representing primarily labor to supervise, service and clean the installed units and change advertising messages and the depreciation of installed units) decreased approximately $984,800 (94%) in the first quarter of 1999 as compared to the same period in 1998 as a result of reduced labor costs and depreciation expense. On March 1, 1998 the Company began reducing its field service staff and by the end of November 1998, all field service staff employees except for warehouse personnel were terminated. Labor costs and related expenses subsequent to June 30, 1998 related entirely to the de-installation of the of the Wal-Mart Supercenter program which was completed approximately September 15, 1998. 9 Selling expenses decreased approximately $82,500 (60%) in 1999 compared to the same period 1998. During 1999, payroll and payroll related expenses and sales representative retainer expenses decreased $77,200. Marketing materials cost, advertising and other expenses decreased $5,300 in 1999 as compared to 1998. Sales efforts for the first quarter of 1999 were shifted from advertising sales for the Wal-Mart Supercenter program to contacting other retailers and advertisers regarding the Shoppers Calculator(R) program. General and administrative expenses decreased $161,500 (40%) during the first quarter of 1999 as compared to the same period in 1998. During 1999, payroll and payroll related expenses decreased $21,800. Officer and management bonus accruals decreased $82,500 in 1999 as compared to 1998. Executive retirement plan accruals, including insurance cost to fund future payments, decreased $19,700 during 1999. Expenses related to broker and analyst meetings and other shareholder expenses decreased $16,000 over 1998. Decreases amounting to $21,500 occurred in professional fees, occupancy costs and other expenses. Equity in loss of Ventures Education Systems Corporation increased $95,800 during the first quarter of 1999 as compared to 1998. The Company acquired a 27% interest in Ventures on September 1, 1998. Ventures has operated at a loss since the acquisition date and the Company's share has been reflected as a charge to earnings with a corresponding reduction in the carrying cost of the investment. Interest expenses decreased approximately $3,800 (100%) during the first quarter of 1999 as compared to the same period in 1998. During 1999, the Company incurred no interest expenses. FINANCIAL CONDITION AND LIQUIDITY The termination of the Company's program with Wal-Mart has materially reduced the Company's revenues. Consequently, the Company expects to incur losses for the foreseeable future. Presently, business activity is being limited to selling units, which provides unpredictable cash flow, and contacting other retailers and advertisers about the Shoppers Calculator program. The Company has continued to downsize its staff and overhead requirements in order to continue with limited operational activity while the lawsuit which was filed against Wal- Mart in September, 1998 is being processed. Notwithstanding the cost-cutting steps that have been taken, the Company will need additional financing or significantly increased funds from operations to accomplish its current business plan, which could include a merger, the sale of the Shoppers Calculator assets or some other business alliance. To the extent that the Company cannot generate the necessary funding from cash flow from operations, it will be required to seek capital from third parties in order to accomplish its business plan. If however, the Company is unable to execute these plans within the time frames anticipated, the Company has contingency plans for further cost-cutting measures. The Company believes that the outcome of the Wal-Mart litigation will have a material impact on its future and the future of the Shoppers Calculator program. 10 YEAR 2000 The Company is making an assessment of its Year 2000 date issues as it relates to computer operations of the Company, the computer hardware and software owned by the Company, the accounting software provided by its vendor, the software of other suppliers and vendors, and the software of customers. The most critical aspect for the Company regarding the Year 2000 problem involves the Company's accounting software. The Company's vendor of the software is addressing this issue and assures its users that all software will be revised to permit the usage of the Year 2000 date without adverse consequences to the software users' systems. The Company has made arrangements with its local computer systems consultant to survey all of the Company's computers and non- accounting software acquired and used in Company operations. This survey will include alarm systems, office equipment, computers, "off-the-shelf" software, and software designed by the Company. It has been determined that Year 2000 problems encountered by the Company's customers would not be material. However, the Company does have equipment which will be affected by the Year 2000 problem. The Company will contact vendors of such equipment supplied by the Company and determine if the equipment requires modifications to address its customers' Year 2000 problems. The Company has determined that the Year 2000 is not a material event or uncertainty that would cause reported financial information not to be necessarily indicative of future operating results or financial condition. Additionally, the Company believes that the costs or consequences of incomplete or untimely resolution of the Year 2000 issue is not a material event. These determinations are based on three factors: the availability of accounting software which has dealt with the Year 2000 problem, the relatively small amount of reliance by the Company on specialized software or computer equipment, and the inconsequential impact on the Company of any of the Company's customers' Year 2000 problems. FORWARD LOOKING STATEMENTS Certain statements included in this report which are not historical facts are forward-looking statements. These forward-looking statements are based on current expectations, estimates, assumptions and beliefs of management; and words such as "expects," "anticipates," "intends," "plans," "believes," "projects", "estimates" and similar expressions are intended to identify such forward looking statements. These forward looking statements involve risks and uncertainties, including, but not limited to, the Company's ability to obtain new users of the Shoppers Calculator(R) program and to sell advertising for that program, general economic conditions and conditions affecting the retail environment, the availability of raw materials and manufactured components and the Company's ability to fund the costs thereof, and other factors which may affect the Company's ability to comply with future obligations. Accordingly, actual results may differ materially from those expressed in the forward looking statements. 11 PART II--OTHER INFORMATION ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K (a) Exhibits: Exhibit No. Description ----------- ----------- 11 Statement re: Computation of Per Share Earnings 27 Financial Data Schedule (b) Reports on Form 8-K. None. 12 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. ADDVANTAGE MEDIA GROUP, INC. SIGNATURE TITLE DATE - --------- ----- ---- /s/ Charles H. Hood Director and President May 11, 1999 - ------------------- Charles H. Hood (Principal Executive Officer) /s/ Gary W. Young Director, Executive Vice President May 11, 1999 - ----------------- Gary W. Young Finance and Administration and Treasurer (Principal Financial Officer) 13 EXHIBIT INDEX ------------- EXHIBIT NO. DESCRIPTION ----------- ----------- 11 Statement re: Computation of Per Share Earnings 27 Financial Data Schedule 14 EX-11 2 STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS EXHIBIT 11 COMPUTATION OF EARNINGS PER SHARE The Company adopted SFAS No. 128, "Earnings Per Share," during 1997. SFAS No. 128 requires presentation of basic and diluted earnings per share. Basic earnings per share is computed by dividing income available to common shareholders by the weighted average number of common shares outstanding for the reporting period. Diluted earnings per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. All prior period weighted average and per share information has been restated in accordance with SFAS No. 128. Outstanding stock options and warrants issued by the Company represent the only dilutive effect on weighted average shares. A reconciliation between basic and diluted weighted average shares outstanding and the related earnings per share calculation is presented below: Basic and diluted EPS for the three months ended March 31, 1999 and 1998, were computed as follows: Earnings per share data has been restated to reflect the one for four reverse stock split to holders of record at the close of business on September 15, 1998 effective October 8, 1998.
Three Months Ended March 31, 1999 1998 ------------------------------ Basic EPS Computation: Net income (loss) $ (446,996) $ 833,260 Less preferred stock dividends -- 22,651 Net income (loss) available to common stockholders $ (446,996) $ 810,609 Weighted average shares outstanding 1,476,646 1,476,646 ============================== Basic EPS $ (0.30) $ 0.55 Diluted EPS Computation: Net income (loss) available to common stockholders $ (446,996) $ 810,609 ============================== Weighted average shares outstanding 1,476,646 1,476,646 Incremental shares for assumed exercise of securities Options -- 98,023 ------------------------------ 1,476,646 1,574,669 ============================== Diluted EPS $ (0.30) $ 0.51 ==============================
EX-27 3 FINANCIAL DATA SCHEDULE
5 3-MOS DEC-31-1999 JAN-01-1999 MAR-31-1999 243,646 0 82,716 0 0 339,142 1,665,158 501,386 2,734,640 121,298 0 0 0 14,766 2,202,939 2,734,640 0 6,760 59,902 357,956 95,800 0 0 (446,996) 0 (446,996) 0 0 0 (446,996) (.30) (.30)
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