-----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, KgLVkdZSa7ihOjsNrQLeS7/qnGe9XBJ23jtl2OdR534kmS+2WIrP7YSHpr7XYnvb hyZ5XJPATG4lX1C21En23w== 0001015608-99-000024.txt : 19990916 0001015608-99-000024.hdr.sgml : 19990916 ACCESSION NUMBER: 0001015608-99-000024 CONFORMED SUBMISSION TYPE: 10QSB PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19981130 FILED AS OF DATE: 19990915 FILER: COMPANY DATA: COMPANY CONFORMED NAME: LANDMARK COMMUNICATIONS INC/NV CENTRAL INDEX KEY: 0000949113 STANDARD INDUSTRIAL CLASSIFICATION: TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813] IRS NUMBER: 330662114 STATE OF INCORPORATION: NV FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: 10QSB SEC ACT: SEC FILE NUMBER: 000-26578 FILM NUMBER: 99711887 BUSINESS ADDRESS: STREET 1: 1720 E. GARRY AVENUE, SUITE 201 STREET 2: STE 201 CITY: SANTA ANA STATE: CA ZIP: 92705 BUSINESS PHONE: (949) 475-4500 MAIL ADDRESS: STREET 1: 1720 E GARRY STREET 2: SUITE 201 CITY: SANTA ANA STATE: CA ZIP: 92705 FORMER COMPANY: FORMER CONFORMED NAME: LANDMARK INTERNATIONAL INC DATE OF NAME CHANGE: 19950808 10QSB 1 U.S. Securities and Exchange Commission Washington, D.C. 20549 Form 10-QSB [X] QUARTERLY REPORT PURSUANT SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the quarterly period ended November 31, 1998 [ ] TRANSITION REPORT PURSUANT SECTION 13 OR 15(d) OF THE EXCHANGE ACT OF 1934 for the transition period from . . . . to . . . . Commission file number 0-26578 LANDMARK INTERNATIONAL, INC. Exact name of small business issuer as specified in its charter) Nevada 33-0662114 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 1720 East Garry, Suite 201, Santa Ana, California 92705 (Address of principal executive offices) (Zip Code) (949) 475-4500 (Registrant's telephone number, including area code) Check whether the issuer (1) filed all the reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past twelve 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 ... No .X. The number of shares of common stock outstanding as of November 31, 1998 is 19,986,666 plus outstanding options for an additional 4,000,000 shares. Transitional Small Business Disclosure Format (check one): Yes ... No .X. PART I - FINANCIAL INFORMATION Item 1. Financial Statements (Unaudited) LANDMARK COMMUNICATIONS INC. Balance Sheet (Unaudited) For the periods ended as indicated Aug. 31 Nov. 31 ASSETS 1998 1998 Cash 3,772 402 Accounts Receivable 98,352 14,700 Employee Advances 0 304 Due from Officers 0 0 Deferred tax assets 1,900 1,900 Total Current Assets 104,024 17,306 Equipment 147,058 147,058 Accumulated Depreciation (3,897) (6,819) Total Equipment less Accumulated depreciation 143,161 140,239 Total Assets 247,185 157,545 LIABILITIES AND STOCKHOLDERS' EQUITY Accounts Payable 81,189 56,454 Accrued payroll taxes 8,089 9,979 Accrued income taxes 2,000 2,000 Capitalized lease obligations due within one year 39,182 39,182 Loans from officers 0 0 Total current liabilities 130,460 107,615 Capitalized Lease LT 79,778 75,346 Stockholders' equity Paid in capital 88,942 88,942 Retained Earnings (40,776) (51,995) Current Years Earnings (11,219) (62,362) Total Stockholders Equity 36,947 (25,415) Total Stockholders Equity and Liabilities 247,185 157,545 LANDMARK COMMUNICATIONS INC. Statement of Operations (Unaudited) For the periods ended as indicated Three Months Ended Nov. 31 1997 1998 Sales 96,450 40,881 Cost of Sales 0 3,173 Gross Profit 96,450 37,707 Selling Expense 21,867 72,589 General and administrative expense 34,053 25,463 Gain or (loss) from operations 40,530 (60,345) Interest, net 0 2,018 Gain or (loss) before Provision for income Taxes 40,530 (62,362) Provision for income taxes 0 0 Net gain or (loss) 40,530 (62,362) LANDMARK COMMUNICATIONS INC. Statement of Cash Flows (Unaudited) For the periods ended as indicated Three Months Cash flows from operating activities: Ended Nov. 31 1997 1998 Net gain or (loss) 40,530 (62,362) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation 0 2,922 Deferred Income Taxes 0 0 Changes in assets and liabilities Accounts Receivable (27,352) 83,652 Employee Advances (1,736) (304) Due to/from officers 1,000 0 Accounts Payable (5,505) (24,735) Accrued payroll related liability 416 1,890 Accrued income taxes 0 0 7,352 1,063 Cash flows from investing activities Purchase of capital equipment 0 0 Cash flows from financing activities Repayment of capitalized lease obligation 0 (4,432) Proceeds from common stock 0 0 0 (4,432) Net increase (decrease) in cash 7,352 (3,369) Cash at beginning of periods 5,410 3,772 Cash at end of periods 12,762 403 LANDMARK COMMUNICATIONS INC. Notes to Financial Statements (Unaudited) For the Three Months Ended November 31, 1998 1. Basis of Presentation and Summary of significant accounting policies The unaudited interim condensed financial statements and related notes have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. Accordingly, certain information and footnote disclosures normally included in the financial statements prepared in accordance with generally accepted accounting principles have been omitted pursuant to such rules and regulations. In the opinion of management, all adjustments, consisting of normal recurring adjustments necessary for a fair presentation of the financial position, and the results of operations and cash flows for the interim periods presented have been made. Due to seasonality of the Company's operations and unsettled transactions, the results of operations and cash flows for the interim periods presented may not be indicative of total results for the full year. The accompanying condensed financial statements and related notes should be read in conjunction with the Company's audited financial statements included in its Annual Report on Form 10-KSB for the year ended August 31, 1998. The results of operations for the three months ended November 31, 1998 are not necessarily indicative of the results to be expected for the full calendar year. In the opinion of management, all adjustments, consisting of normal recurring adjustments necessary for a fair presentation of the financial position, and the results of operations and cash flows for the interim periods presented. Due to seasonality of the Company's operations and unsettled transactions, the results of operations and cash flows for the interim periods presented may not be indicative of total results for the full year. 2.Nature of Business and Summary of Significant Accounting Policies Nature of Business: Landmark International, Inc. (the "Company") is a Nevada Corporation engaged in providing communication services to individuals and businesses. Equipment: Equipment is carried at cost. Depreciation is computed using the straight-line method over the estimated useful lives of the depreciable assets, which range from three to seven years. Equipment under capitalized lease obligations are carried at estimated fair market value determined at the inception of the lease. Amortization is computed using the straight-line method over the original term of the lease or the estimated useful lives of the assets, whichever is shorter. Reporting Comprehensive Income: In June 1997, Statement of Financial Accounting Standards ("SFAS") No. 130, " Reporting Comprehensive Income" was issued, which established standards for reporting and display of comprehensive income and its components as separate amounts in the financial statements. Comprehensive income includes all changes in equity during a period of an enterprise that results from recognized transactions and other economic events other than transactions with owners. This statement requires all items that are to be recognized under accounting standards as components of comprehensive income be reported in a financial statement that is displayed with the same prominence as other financial statements. This statement affects only financial statement presentation. As of May 31, 1998, the Company does not carry any items required to be disclosed as other comprehensive income in accordance with the statement. Revenue Recognition: Fees for services are recognized at month-end as services are completed and income earned. Advertising: The Company expenses the cost of advertising as selling expenses as incurred. Advertising expenses was approximately $404 for the three months ended November 31, 1998. Income Taxes: Income taxes are accounted for and reported using an asset and liability approach. Deferred income tax assets and liabilities are computed annually for differences between the financial statement and tax basis of assets and liabilities that will result in taxable or deductible amounts in the future based on enacted tax laws and rates applicable to the periods in which the differences are expected to effect taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. Income tax expense is the tax payable or refundable for the period plus or minus the change during the year in deferred tax assets and liabilities. Net loss per common share: Net loss per share is computed by dividing net loss by the weighted average number of common shares outstanding during the period. The weighted average number of common stock shares outstanding was 19,986,666 for the three month period ending November 31, 1998. Stock options outstanding are not considered to be common stock equivalents, as the affect on net loss per common share would be anti-dilutive. Concentration Risk: The Company grants credit to customers in the Southern portion of the State of California. The Company's ability to collect broker fees and to fund borrower's transactions are affected both by economic fluctuations in the geographic areas served by the Company. Risks and Uncertainties: The process of preparing financial statements in conformity with generally accepted accounting principles requires the use of estimates and assumptions regarding certain types of assets, liabilities, revenues and expenses. Management of the Company has made certain estimates and assumptions regarding the collectibility of accounts receivable. Such estimates and assumptions primarily relate to unsettled transactions and events as of the date of the financial statements. Accordingly, upon settlement, actual results may differ from estimated amounts. Recently Issued Accounting Pronouncements: Accounting for Derivative Instruments and Hedging Activities: In June 1998, SFAS No. 133, " Accounting for Derivative Instruments and Hedging Activities" was issued. The Statement requires that all derivatives be carried on the balance sheet at fair value and changes in the fair value of derivatives be recognized in income when they occur, unless the derivatives qualify as hedges in accordance with the standard. If a derivative qualifies as a hedge, a company can elect to use hedge accounting. The type of accounting to be applied varies depending on the nature of the exposure that is being hedged, and the standard defines three hedge risks: change in fair value, change in cash flows and change in foreign currency. A fair-value hedge represents the hedge of an exposure to changes in the fair value of an asset, liability or an unrecognized firm commitment. Changes in fair value hedges are recognized in earnings, as well as the gain or loss on the hedged item attributable to the hedged risk. Certain criteria must be met in order for a hedging relationship to qualify as a fair-value hedge. A cash-flow hedge is a hedge of an exposure to variability in cash flows that is attributable to a particular risk. That exposure may be associated with an existing recognized asset or liability or a forecasted transaction. The effective portion of a hedging instrument's gain or loss is initially reported as a component of other comprehensive income and is reclassified as a component of earnings in the same period or periods during which the hedge forecasted transaction affects earnings. As in fair value hedges, certain criteria must be met in order for a hedging relationship to qualify as a cash-flow hedge. A foreign-currency hedge can be a fair-value hedge or a cash-flow hedge of the foreign currency exposure, therefore it follows the same principles as those that apply to the accounting for non-foreign hedges with some particularities defined in the statement. This statement is effective for the year beginning after September 1, 1999 and cannot be applied retroactively. Management believes that the adoption of this statement will not have a material effect on the Company's financial position or results of operations. Accounting for the Cost of Computer Software Developed for Internal Use: In March 1998, the American Institute of Certified Public Accountants issued Statement of Position 98-1, " Accounting for the Cost of Computer Software Developed for Internal Use" ("SOP 98-1"), which will become effective for financial statements for the year beginning September 1, 1999, with early adoption encouraged. SOP 98-1 requires the capitalization of eligible costs of specified activities related to computer software developed or obtained for internal use. Management does not believe the impact of adoption will have a material effect on the Company's financial position or results of operations. 2. Business Combination: Effective June 1, 1999, the Company acquired Mobilenetics Corporation ("Mobilenetics"), a supplier of communications equipment. The Company issued 10,000,000 shares of its common stock in exchange for all of the outstanding shares of Mobilenetics. The acquisition will be accounted for as a purchase. The excess purchase price, if any, over the estimated fair value of the assets of Mobilenetics will be amortized using the straight-line method over five years. The following unaudited pro forma summary presents the consolidated financial position and results of operations of the Company as if the business combination occurred on September 1, 1998: As of November 31, 1998: Tangible current assets $ 137,511 Total assets 241,394 Current liabilities 174,970 Total liabilities 202,209 Total stockholders' equity 39,186 For the three months ended November 31, 1998: Net sales 236,249 Net (loss) (123,465) (Loss) per share (.006) The above amounts are based upon certain assumptions and estimates which the Company believes are reasonable. The pro forma financial position and results of operations do not purport to be indicative of the results which would gave been obtained had the business combination occurred as of September 1, 1998 or which may be obtained in the future. 3. Capitalized Lease Obligations: The Company leases equipment under non-cancelable lease agreements. Equipment under lease agreements aggregated at November 31, 1998 $129,929, less accumulated amortization at November 31, 1998 of $6,819. Aggregate future minimum lease payments and the present value of minimum lease payments are as follows: Years ending August 31, 1999 $ 53,381 2000 53,381 2001 35,588 Total minimum lease payments 142,350 Less amount representing interest 23,390 Present value of minimum lease payments 118,960 Less amounts due within one year 39,182 Long-term capitalized lease obligations $ 79,778 4. Income Taxes The components of the provision (benefit) for income taxes are as follows for the three month period ended November 31, 1998: Federal: Current $ 1,600 Deferred - net operating loss carryover (1,600) State of California: Current 500 Deferred - net operating loss carryover (500) 0 Provision for income taxes $ 0 Reconciliation of income taxes computed at the federal statutory rate to the provision for income taxes is as follows for the three month period ended November 31, 1998: Tax at statutory rates $ (1,600) Differences resulting from state tax, net of federal benefit, and non-deductible and other items 1,600 Effective $ 0 Item 2. Management's Discussion and Analysis or Plan of Operation Forward Looking Statements This discussion may contain statements that could be deemed forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act, which statements are inherently subject to risks and uncertainties. Forward-looking statements are statements that include projections, predictions, expectations or beliefs about future events or results or otherwise are not statements of historical fact. Such statements are often characterized by the use of qualifying words (and their derivatives) such as "expect," "believe," "estimate," "plan," "project," "anticipate," or other statements concerning opinions or judgment of the Company and its management about future events. Factors that could influence the accuracy of such forward-looking statements include, but are not limited to, the financial success or changing strategies of the Company's customers, actions of government regulators, the level of market interest rate and general economic conditions. All forward-looking statements included herein are based on information available to the Company on the date hereof, and the Company assumes no obligation to update any such forward-looking statements. It is important to note that the Company's actual results could differ materially from those in such forward-looking statements due to the factors cited above. As a result of these factors, there can be no assurance the Company will not experience material fluctuations in future operating results on a quarterly or annual basis, which would materially and adversely affect the Company's business, financial condition and results of operations. Results of Operations The Company's operating results have fluctuated in the past due to on again off again GTE sales promotions and may in the future fluctuate significantly, depending upon a variety of factors, including the timely deployment and expansion of new network architectures, the incurrence of related capital costs, variability and length of the sales cycle associated with the Company's product and service offerings, the receipt of new value-added network services and consumer services subscriptions and the introduction of new services by the Company and its competitors. Additional factors that may contribute to variability of operating results include: the pricing and mix of services offered by the Company; customer retention rate; market acceptance of new and enhanced versions of the Company's services; changes in pricing policies by the Company's competitors; the Company's ability to obtain sufficient supplies of sole- or limited-source components; user demand for network and Internet access services; balancing of network usage over a 24-hour period; the ability to manage potential growth and expansion; the ability to identify, acquire and integrate successfully suitable acquisition candidates; and charges related to acquisitions. In response to competitive pressures, the Company may take certain pricing or marketing actions that could have a material adverse affect on the Company's business. As a result, variations in the timing and amounts of revenues could have a material adverse affect on the Company's quarterly operating results. Due to the foregoing factors, the Company believes that period-to-period comparisons of its operating results are not necessarily meaningful and that such comparisons cannot be relied upon as indicators of future performance. In the event that the Company's operating results in any future period fall below the expectations of securities analysts and investors, the trading price of the Company's common stock would likely decline. Revenue. Revenue totaled approximately $40,881 for the three month period ended November 31, 1998, a 58% decrease over revenue of $96,450 for the three month period ended November 31, 1997. This decrease reflects the lack of a sales promotion program being offered by GTE for the past quarter. GTE is expected to offer a new sales program for this next quarter. Cost of Revenue. Cost of revenue consists primarily of personnel costs to maintain and operate the Company's network, access charges from local exchange carriers, backbone and Internet access costs, depreciation of network equipment and amortization of related assets. Cost of revenue increased for the three month period ended November 31, 1998 was approximately $3,173, cost of revenue of $0 for the three month period ended November 31, 1997. This increase is attributable to the shift from reselling GTE services to exclusively and also selling T-1 services. In addition, the increase in cost of revenue to the overall growth in the size of the network and costs associated with operations. The Company expects its cost of revenue to continue to increase in dollar amount, while declining as a percentage of revenue as the Company expands its customer base. Sales Expense. Sales expense consists primarily of personnel expenses, including salary and commissions, and costs of for customer support functions. Marketing and sales expense was approximately $72,589 for the three month period ended November 31, 1998 and $21,867 for the three month period ended November 31, 1997. The $51,722 increase in 1998 reflects an expansion of the sales organizations necessary to support the Company's shift from reselling GTE services to also selling T-1 services. This increase also reflects a growth in subscriber acquisition costs, related to both increased direct marketing efforts as well as commissions paid sales staff. Sales expense as a percentage of revenue increased to 177% for the three month period ended November 31, 1998 from 23% in the year earlier period as a result of the Company's product shift. The Company expects sales expenditures to continue to increase in dollar amount, but to decline as a percentage of revenue. General and Administrative Expense. General and administrative expense consists primarily of personnel expense, rent and professional fees. General and administrative expense was approximately $25,463 for the three month period ended November 31, 1998 and $34,053 for the three month period ended November 31, 1997. This lower level of expense reflects a decrease in personnel and professional fees necessary to manage the financial, legal and administrative aspects of the business. General and administrative expense as a percentage of revenue declined to 62% for the three month period ended November 31, 1998 from 35% in the year earlier period as a result of the Company's increased revenue. The Company expects general and administrative expense to increase in dollar amount, reflecting its growth in operations, but to decline as a percentage of revenue. Net Income Attributable to Common Stockholders. The Company's net loss attributable to common stockholders was approximately $62,362 for the three month period ended November 31, 1998 as compared to net income approximately $40,530 for the three month period ended November 31, 1997. The Company expects to focus in the near term on building and increasing its revenue base, which will require it to significantly increase its expenses for personnel, marketing, network infrastructure and the development of new services, and may adversely impact short term operating results. As a result, the Company believes that it will incur losses in the near term and we cannot assure you that the Company will be profitable in the future. Financial Condition To date, the Company has satisfied its cash requirements primarily through the debt financings and capitalized lease financings. The Company's principal uses of cash are to fund working capital requirements and capital expenditures, to service its capital lease and debt financing obligations, and to finance and fund acquisitions. Net cash used by operations for the three month periods ended November 31, 1998 and 1997 was approximately $1,063 and $7,352, respectively. Cash used for operating activities in the period ending November 31, 1998 was primarily affected by the net loss from operations and the reduction of accounts receivable as the company was expanding its market share and improving its infrastructure. The net cash provided from operations for the period ending November 31, 1997 was the result of an increase in accounts receivable resulting from a GTE sales promotion in October and November of 1997. Net cash provided by investing activities for the three month periods ended November 31, 1998 and 1997 was approximately $0 and $0, respectively. The net cash decrease for the three month period ended November 31, 1998 was $3,369 as compared to a net cash increase for the three month period ended November 31, 1997 of $7,352. At November 31, 1998, the Company had cash and cash equivalents of approximately $402, and negative working capital of $90,309. The Company anticipates that it will require additional financing on a continuing basis. The Company will be required to raise such additional funds through public or private financing, strategic relationships or other arrangements. We cannot assure you that such additional funding, if needed, will be available on terms attractive to the Company, or at all. Year 2000 Compliance The Year 2000 issue is the result of computer programs being written using two digits rather than four to define the applicable year. As a result, date- sensitive software may recognize a date using "00" as the year 1900 rather than the year 2000. This could result in system failures or miscalculations causing disruptions of normal business activities. The Company has reviewed its products and services, as well as its internal management information systems in order to identify and modify those products, services and systems that are not year 2000 compliant. Based on the Company's assessment to date, the Company has determined that its internally developed software, including all of its operational, financial and management information systems software is year 2000 compliant. The Company's operational, financial and management information systems software which have not been internally developed have been certified as year 2000 compliant by the third party vendors who have supplied the software. The equipment and software that runs the Company's data centers are supplied by Microsoft, Cisco Systems, and Intel Corporation. The Company has implemented software patches supplied by Microsoft so that the Microsoft software in these data centers no longer contains any material year 2000 deficiencies. The Company implemented similar patches for the software supplied by Cisco Systems at the end of 1998. The company is building a new communications network, and, as such, the company does not have a technology infrastructure comprised of legacy software and systems. In building its communications network, the company has adopted a strategy to select technology vendors and suppliers that provide products that are represented by such vendors and suppliers to be Year 2000 Ready. In negotiating its vendor and supplier contracts, the company secures Year 2000 representations and warranties that address the Year 2000 Readiness of the applicable product(s). To date, the company has exclusively used equipment from Cisco Systems within our network backbone, and Customer Premises Equipment (CPE) from both Cisco Systems and Flowpoint / Cabletron. Both companies have provided the company with sufficient Year 2000 readiness information and test results for the equipment that we have purchased from these vendors. The company has tested and validated the Year 2000 Readiness of the the company Network and select external systems, products, and facilities that are essential components in the company's delivery of the Services by engaging in a product delivery system tests. These system tests have been performed in a controlled, defined laboratory environment utilizing procedures to replicate the end-to-end delivery of Services. The Company does not separately track internal costs incurred to assess and remedy deficiencies related to the year 2000 problem, however, such costs are principally the payroll costs for its information systems group. The Company does not have and is not developing a contingency plan in the event its systems fail as a result of year 2000 related problems. However, despite testing by the Company and its vendors, the Company's products, services and systems may contain undetected errors or defects associated with year 2000 date functions. In the event any material errors or defects are not detected and fixed or third parties cannot timely provide the Company with products, services or systems that meet the year 2000 requirements, the Company's operating results could be materially adversely affected. Known or unknown errors or defects that affect the operation of the Company's products, services or systems could result in delay or loss of revenue, interruption of network services, cancellation of customer contracts, diversion of development resources, damage to the Company's reputation, and litigation costs. There can be no assurance that these or other factors relating to year 2000 compliance issues will not have a material adverse effect on the Company's business, operating results or financial condition. PART II - OTHER INFORMATION Item 1. Legal Proceedings None Item 2. Changes in Securities and Use of Proceeds None Item 3. Defaults Upon Senior Securities None Item 4. Submission of Matters to a Vote of Security Holders None Item 5. Other Information None Item 6. Exhibits and Reports on Form 8-K (a) Exhibit Table: 27 Financial Data Schedule (b) No reports on Form 8-K were filed during the quarter. [Signatures] In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. LANDMARK INTERNATIONAL, INC. (Registrant) Date: 9/14/99 By:/s/_______________________________ William J. Kettle Chairman and Chief Executive Officer Date: 9/14/99 By:/s/_______________________________ John W. Diehl, Jr. Chief Financial Officer and Treasurer EX-27 2 FINANCIAL DATA SCHEDULE
5 This schedule contains summary financial information extracted from the November 31, 1998 consolidated financial statements] and is qualified in its entirety by reference to such financial statements and the notes thereto. 3-MOS AUG-31-1999 AUG-01-1998 NOV-30-1998 402 0 14,700 0 0 17,306 147,058 6,819 157,545 107,615 0 0 0 88,942 (114,357) 157,545 40,881 40,881 3,173 3,173 98,052 0 0 (60,345) 0 (60,345) 0 0 0 (60,345) (.0) (.0)
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