-----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, NyqI6ThETfMwm+yu3Q9t/wP+l+Eu6/CaBd1djEkjZmP1QW1MiJVHgG7PTIR6qd2k PFppHMyXWOOdmjdmHCOSqA== 0000010048-00-000004.txt : 20000215 0000010048-00-000004.hdr.sgml : 20000215 ACCESSION NUMBER: 0000010048-00-000004 CONFORMED SUBMISSION TYPE: 10QSB PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19991231 FILED AS OF DATE: 20000214 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BARNWELL INDUSTRIES INC CENTRAL INDEX KEY: 0000010048 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 720496921 STATE OF INCORPORATION: DE FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 10QSB SEC ACT: SEC FILE NUMBER: 001-05103 FILM NUMBER: 540225 BUSINESS ADDRESS: STREET 1: 1100 ALAKEA ST. STREET 2: SUITE 2900 CITY: HONOLULU STATE: HI ZIP: 96813 BUSINESS PHONE: 808-531-8400 MAIL ADDRESS: STREET 1: 1100 ALAKEA ST. STREET 2: SUITE 2900 CITY: HONOLULU STATE: HI ZIP: 96813 FORMER COMPANY: FORMER CONFORMED NAME: BMA CORP/TN DATE OF NAME CHANGE: 19770324 FORMER COMPANY: FORMER CONFORMED NAME: BARNWELL OFFSHORE INC DATE OF NAME CHANGE: 19671101 10QSB 1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-QSB X Quarterly Report Pursuant to Section 13 or 15(d) of the Securities --- Exchange Act of 1934 For the quarterly period ended December 31, 1999 Transition Report Pursuant to Section 13 or 15(d) of the Securities --- Exchange Act of 1934 COMMISSION FILE NUMBER 1-5103 BARNWELL INDUSTRIES, INC. (Exact name of small business issuer as specified in its charter) DELAWARE 72-0496921 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 1100 ALAKEA STREET, SUITE 2900, HONOLULU, HAWAII 96813 (Address of principal executive offices) (Zip code) (808) 531-8400 (Issuer's telephone number, including area code) 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 ----- ----- As of February 10, 2000 there were 1,316,952 shares of common stock, par value $0.50, outstanding. Transitional Small Business Disclosure Format Yes No X ----- ----- 2 BARNWELL INDUSTRIES, INC. ------------------------- AND SUBSIDIARIES ---------------- INDEX ----- PART I. FINANCIAL INFORMATION: Item 1. Financial Statements Condensed Consolidated Balance Sheets December 31, 1999 and September 30, 1999 (Unaudited) Consolidated Statements of Operations three months ended December 31, 1999 and 1998 (Unaudited) Condensed Consolidated Statements of Cash Flows three months ended December 31, 1999 and 1998 (Unaudited) Consolidated Statements of Stockholders' Equity and Comprehensive Income three months ended December 31, 1999 and 1998 (Unaudited) Notes to Condensed Consolidated Financial Statements (Unaudited) Item 2. Management's Discussion and Analysis of Financial Condition, Year 2000 Compliance, and Results of Operations PART II. OTHER INFORMATION: Item 6. Exhibits and reports on Form 8-K 3 BARNWELL INDUSTRIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited, see Note A below) ASSETS - ------ December 31, September 30, 1999 1999 ------------ ------------ CURRENT ASSETS: Cash and cash equivalents $ 2,716,000 $ 2,577,000 Accounts receivable, net 1,463,000 1,873,000 Other current assets 1,065,000 1,147,000 ------------ ------------ TOTAL CURRENT ASSETS 5,244,000 5,597,000 ------------ ------------ INVESTMENT IN LAND 3,696,000 3,519,000 ------------ ------------ OTHER ASSETS 206,000 207,000 ------------ ------------ NET PROPERTY AND EQUIPMENT 24,072,000 23,972,000 ------------ ------------ TOTAL ASSETS $ 33,218,000 $ 33,295,000 ============ ============ LIABILITIES AND STOCKHOLDERS' EQUITY - ------------------------------------ CURRENT LIABILITIES: Accounts payable $ 1,582,000 $ 1,894,000 Accrued expenses 1,696,000 1,975,000 Current portion of long-term debt 1,700,000 1,650,000 Other current liabilities 1,380,000 1,038,000 ------------ ------------ TOTAL CURRENT LIABILITIES 6,358,000 6,557,000 ------------ ------------ LONG-TERM DEBT 11,736,000 12,631,000 ------------ ------------ DEFERRED INCOME TAXES 6,565,000 6,301,000 ------------ ------------ STOCKHOLDERS' EQUITY: Common stock, par value $.50 a share: Authorized, 4,000,000 shares Issued, 1,642,797 shares 821,000 821,000 Additional paid-in capital 3,103,000 3,103,000 Retained earnings 12,341,000 11,801,000 Accumulated other comprehensive loss - foreign currency translation adjustments (2,917,000) (3,130,000) Treasury stock, at cost, 325,845 shares (4,789,000) (4,789,000) ------------ ------------ TOTAL STOCKHOLDERS' EQUITY 8,559,000 7,806,000 ------------ ------------ TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 33,218,000 $ 33,295,000 ============ ============ Note A: The condensed consolidated balance sheet at September 30, 1999 has been derived from the audited consolidated financial statements at that date. See Notes to Condensed Consolidated Financial Statements 4 BARNWELL INDUSTRIES, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) December 31, ---------------------------- Revenues: 1999 1998 ----------- ----------- Oil and natural gas $ 3,130,000 $ 2,350,000 Contract drilling 980,000 750,000 Gas processing and other 200,000 200,000 ----------- ----------- 4,310,000 3,300,000 ----------- ----------- Costs and expenses: Oil and natural gas operating 750,000 817,000 Contract drilling operating 761,000 576,000 General and administrative 720,000 764,000 Depreciation, depletion and amortization 704,000 694,000 Interest expense 204,000 206,000 ----------- ----------- 3,139,000 3,057,000 ----------- ----------- Earnings before income taxes 1,171,000 243,000 Income tax provision 631,000 193,000 ----------- ----------- NET EARNINGS $ 540,000 $ 50,000 =========== =========== BASIC AND DILUTED EARNINGS PER COMMON SHARE $0.41 $0.04 ===== ===== See Notes to Condensed Consolidated Financial Statements 5 BARNWELL INDUSTRIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) Three months ended December 31, ------------------------ 1999 1998 ----------- ----------- Cash Flows from Operating Activities: Net earnings $ 540,000 $ 50,000 Adjustments to reconcile net earnings to net cash provided by (used in) operating activities: Depreciation, depletion, and amortization 704,000 694,000 Deferred income taxes 142,000 15,000 ----------- ----------- 1,386,000 759,000 Increase (decrease) from changes in current assets and liabilities 223,000 (931,000) ----------- ----------- Net cash provided by (used in) operating activities 1,609,000 (172,000) ----------- ----------- Cash Flows from Investing Activities: Capital expenditures - oil and natural gas (457,000) (211,000) Capital expenditures - other (23,000) (24,000) Additions to investment in land (177,000) (171,000) Proceeds from sale of oil and natural gas properties 50,000 18,000 Decrease in other assets 1,000 1,000 ----------- ----------- Net cash used in investing activities (606,000) (387,000) ----------- ----------- Cash Flows from Financing Activities: Long-term debt borrowings 50,000 150,000 Repayments of long-term debt (916,000) (100,000) ----------- ----------- Net cash (used in) provided by financing activities (866,000) 50,000 ----------- ----------- Effect of exchange rate changes on cash and cash equivalents 2,000 - ----------- ----------- Net increase (decrease) in cash and cash equivalents 139,000 (509,000) Cash and cash equivalents at beginning of period 2,577,000 2,178,000 ----------- ----------- Cash and cash equivalents at end of period $ 2,716,000 $ 1,669,000 =========== =========== Supplemental disclosures of cash flow information: Cash paid during the period for: Interest (net of amounts capitalized) $ 188,000 $ 195,000 =========== =========== Income taxes $ 578,000 $ 52,000 =========== =========== See Notes to Condensed Consolidated Financial Statements 6
BARNWELL INDUSTRIES, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY AND COMPREHENSIVE INCOME Three months ended December 31, 1999 and 1998 (Unaudited) Accumulated Additional Comprehensive Other Total Common Paid-In Income Retained Comprehensive Treasury Stockholders' Stock Capital (Loss) Earnings Loss Stock Equity -------- --------- ------------ ----------- ------------ ------------ ------------ At September 30, 1998 $821,000 $3,103,000 $11,281,000 $ (3,672,000) $ (4,789,000) $ 6,744,000 Comprehensive income: Net earnings $ 50,000 50,000 50,000 Other comprehensive loss, net of income taxes - foreign currency translation adjustments (16,000) (16,000) (16,000) ------------ Total comprehensive income $ 34,000 -------- ---------- ============ ----------- ------------ ------------ ------------ At December 31, 1998 $821,000 $3,103,000 $11,331,000 $ (3,688,000) $ (4,789,000) $ 6,778,000 ======== ========== =========== ============ ============ ============ At September 30, 1999 $821,000 $3,103,000 $11,801,000 $ (3,130,000) $ (4,789,000) $ 7,806,000 Comprehensive income: Net earnings $ 540,000 540,000 540,000 Other comprehensive income, net of income taxes - foreign currency translation adjustments 213,000 213,000 213,000 ------------ Total comprehensive income $ 753,000 --------- ---------- ============ ----------- ------------ ------------ ------------ At December 31, 1999 $821,000 $3,103,000 $12,341,000 $ (2,917,000) $ (4,789,000) $ 8,559,000 ======== ========== =========== ============ ============ ============ See Notes to Condensed Consolidated Financial Statements
7 BARNWELL INDUSTRIES, INC. AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS ------------------------------------------- The Condensed Consolidated Balance Sheet as of December 31, 1999 and the Consolidated Statements of Operations, the Condensed Consolidated Statements of Cash Flows, and the Consolidated Statements of Stockholders' Equity and Comprehensive Income for the three months ended December 31, 1999 and 1998 have been prepared by Barnwell Industries, Inc. (referred to herein together with its subsidiaries as "Barnwell" or the "Company") without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations and changes in cash flows at December 31, 1999 and for all periods presented have been made. The Condensed Consolidated Balance Sheet as of September 30, 1999 has been derived from audited consolidated financial statements. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted. It is suggested that these condensed consolidated financial statements be read in conjunction with the consolidated financial statements and notes thereto included in the Company's September 30, 1999 annual report to stockholders. The results of operations for the period ended December 31, 1999 are not necessarily indicative of the operating results for the full year. The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and the disclosure of contingent assets and liabilities. Actual results could differ significantly from those estimates. 2. EARNINGS PER COMMON SHARE ------------------------- Basic earnings per share ("EPS") excludes dilution and is computed by dividing net earnings by the weighted-average number of common shares outstanding for the period. The weighted-average number of common shares outstanding for three months ended December 31, 1999 and 1998 was 1,316,952. Diluted EPS includes the potentially dilutive effect of outstanding common stock options and securities which are convertible to common shares. The weighted-average number of common and potentially dilutive common shares outstanding was 1,319,277 and 1,316,952 for the three months ended December 31, 1999 and 1998, respectively. Reconciliations between the numerator and denominator of the basic and diluted earnings per share computations for the three months ended December 31, 1999 is as follows: Three months ended December 31, 1999 ------------------------------------------ Net Earnings Shares Per-Share (Numerator) (Denominator) Amount ----------- ---------- ------ Basic earnings per share $ 540,000 1,316,952 $ 0.41 Effect of dilutive securities - common stock options - 2,325 - ----------- ---------- ------ Diluted earnings per share $ 540,000 1,319,277 $ 0.41 =========== ========== ====== 8 Assumed conversion of certain common stock options was excluded from the computation of diluted EPS for the three months ended December 31, 1999 and 1998 because its effect would be antidilutive. As of December 31, 1999 and 1998, antidilutive options to acquire 50,000 shares and 55,000 shares, respectively, of the Company's stock were outstanding. Assumed conversion of the convertible debentures to 75,000 shares of common stock at December 31, 1999 and 95,000 shares of common stock at December 31, 1998 was excluded from the computation of diluted EPS for the three months ended December 31, 1999 and 1998 because its effect would be antidilutive. 3. SEGMENT INFORMATION ------------------- The Company operates three segments: exploring for, developing, producing and selling oil and natural gas in Canada; investing in leasehold land in Hawaii; and drilling wells and installing and repairing water pumping systems in Hawaii. The Company's reportable segments are strategic business units that offer different products and services. They are managed separately as each segment requires different operational methods, operational assets and marketing strategies, and operate in different geographical locations. The Company does not allocate general and administrative expenses, interest expense, interest income or income taxes to segments, and there are no transactions between segments that affect segment profit or loss. Three months ended December 31, ------------------------------ 1999 1998 ------------ ------------ Revenues: Oil and natural gas $ 3,130,000 $ 2,350,000 Contract drilling 980,000 750,000 Other 140,000 183,000 ------------ ------------ Total $ 4,250,000 $ 3,283,000 ============ ============ Depreciation, depletion and amortization: Oil and natural gas $ 628,000 $ 650,000 Contract drilling 49,000 26,000 Other 27,000 18,000 ------------ ------------ Total $ 704,000 $ 694,000 ============ ============ Operating profit (before general and administrative expenses): Oil and natural gas $ 1,752,000 $ 883,000 Contract drilling 170,000 148,000 Other 113,000 165,000 ------------ ------------ Total 2,035,000 1,196,000 General and administrative expenses (720,000) (764,000) Interest expense (204,000) (206,000) Interest income 60,000 17,000 ------------ ------------ Earnings before income taxes $ 1,171,000 $ 243,000 ============ ============ 9 4. INCOME TAXES ------------ The components of the income tax provision for the three months ended December 31, 1999 and 1998 are as follows: Three months ended December 31, --------------------------- 1999 1998 ---------- ---------- Current - U.S. $ - $ - Current - Foreign 489,000 178,000 ---------- ---------- Total - Current 489,000 178,000 ---------- ---------- Deferred - U.S. 60,000 15,000 Deferred - Foreign 82,000 - ---------- ---------- Total - Deferred 142,000 15,000 ---------- ---------- $ 631,000 $ 193,000 ========== ========== 5. SUBSEQUENT EVENT - INVESTMENT IN LAND ------------------------------------- On January 3, 2000, Kaupulehu Makai Venture, an affiliate of Kajima Corporation of Japan, exercised a portion of the option granted by Kaupulehu Developments, a 50.1%-owned general partnership, for the development of residential parcels within the Four Seasons Resort Hualalai at Historic Ka'upulehu on the Island of Hawaii. As a result, after repayment of debt of $1,300,000 and distributions to Kaupulehu Developments' minority interest partner, the Company's consolidated cash position increased by $4,130,000 in January 2000. This transaction will be reflected in the Company's results for the three and six months ended March 31, 2000. 6. FUTURE ACCOUNTING CHANGES ------------------------- In June 1998, the Financial Accounting Standards Board ("FASB") issued Statement of Financial Accounting Standards ("SFAS") No. 133, "Accounting for Derivative Instruments and Hedging Activities," which establishes accounting and reporting standards for derivative instruments and hedging activities and requires that an entity recognize all derivatives as either assets or liabilities in the statement of financial position and measure those instruments at fair value. The provisions of SFAS No. 133 are effective for all fiscal quarters of fiscal years beginning after June 15, 1999. In July 1999, the FASB issued SFAS No. 137, "Accounting for Derivative Instruments and Hedging Activities - Deferral of the Effective Date of FASB Statement No. 133, an Amendment of FASB Statement No. 133," which defers the effective date of SFAS No. 133 to be effective for all fiscal quarters of fiscal years beginning after June 15, 2000. Management does not expect adoption of SFAS No. 133 will have a material effect on the Company's financial condition, results of operations or liquidity. Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND ------------------------------------------------------------------------ RESULTS OF OPERATIONS ---------------------- FORWARD-LOOKING STATEMENTS - -------------------------- This Form 10-QSB contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including various forecasts, projections of the Company's future performance, statements of the Company's plans and objectives or other similar types of information. Although the Company believes that its expectations are based on reasonable assumptions, it cannot assure that the expectations contained in such forward-looking statements will be achieved. Such statements involve risks, uncertainties and assumptions which could cause actual results to differ materially from those contained in such statements. These forward-looking statements speak only as of the date of filing of this Form 10-QSB, and the Company expressly disclaims any obligation or undertaking to publicly release any updates or revisions to any forward-looking statements contained herein. 10 LIQUIDITY AND CAPITAL RESOURCES - ------------------------------- Cash flows from operations totaled $1,609,000 for the three months ended December 31, 1999, an increase of $1,781,000 as compared to the same period in the prior year. This increase was due to higher operating profit generated by the Company's oil and natural gas segment and to the timing of receivable collections and payables disbursements. At December 31, 1999, the Company had $2,716,000 in cash and cash equivalents, and approximately $2,500,000 of available credit under its credit facility with a Canadian bank. Additionally, on January 3, 2000, Kaupulehu Makai Venture, an affiliate of Kajima Corporation of Japan, exercised a portion of the option granted by Kaupulehu Developments, a 50.1%-owned general partnership, for the development of residential parcels within the Four Seasons Resort Hualalai at Historic Ka'upulehu on the Island of Hawaii. As a result, after repayment of debt of $1,300,000 and distributions to Kaupulehu Developments' minority interest partner, the Company's consolidated cash position increased by $4,130,000 in January 2000. This transaction will be reflected in the Company's results for the three and six months ended March 31, 2000. During the quarter ended December 31, 1999, the Company invested $457,000 in oil and natural gas properties in Canada, as compared to $211,000 during the prior year's first quarter. The Company participated in the drilling of seven successful wells and three recompletions in Alberta, Canada, during the three months ended December 31, 1999 as follows: Productive Productive Oil Wells Gas Wells Dry Holes Total Wells ------------- ------------- ------------- ------------- Exp. Dev. Exp. Dev. Exp. Dev. Exp. Dev. ---- ---- ---- ---- ---- ---- ---- ---- Gross - 3.00 - 4.00 - - - 7.00 Net - 0.31 - 1.35 - - - 1.66 The Company also invested $177,000 (including interest costs capitalized) towards the rezoning of the North Kona, Hawaii property held by Kaupulehu Developments. In December 1999, the Third Circuit Court of the County of Hawaii remanded Kaupulehu Developments' Special Management Area ("SMA") Use Permit Petition back to the County of Hawaii Planning Commission for further review due to procedural issues. In late December 1999, the County of Hawaii Planning Commission reaffirmed their approval of the SMA Use Permit Petition. Additional steps must be completed in order for Kaupulehu Developments to proceed with development of this area, including the resolution of a legal challenge to a prior State of Hawaii zoning approval for this project which is before the Hawaii Supreme Court. If Kaupulehu Developments is unable to prevail in the case which is before the Hawaii Supreme Court, and if Kaupulehu Developments is subsequently unable to obtain the State of Hawaii's approval after making additional efforts with the modifications it believes are necessary to obtain the approval, there will be a materially adverse impairment of the value of the Company's investment in land. 11 YEAR 2000 COMPLIANCE - -------------------- The Company has not experienced any significant disruptions to financial or operating activities resulting from Year 2000 issues. Management does not expect Year 2000 issues to have a material adverse effect on the Company's operations or financial results. RESULTS OF OPERATIONS - --------------------- Oil and Natural Gas - ------------------- SELECTED OPERATING STATISTICS ---------------------------------------------- Average Price Per Unit ---------------------------------------------- Three months ended Increase December 31, (Decrease) --------------------- ----------------- 1999 1998 $ % ------ ------ ------- ---- Liquids (Bbls)* $14.31 $ 8.44 $ 5.87 70% Oil (Bbls)* $22.40 $12.15 $10.25 84% Natural gas (MCF)** $ 2.00 $ 1.42 $ 0.58 41% Net Production ---------------------------------------------- Three months ended Increase December 31, (Decrease) ----------------------- ----------------- 1999 1998 Units % ------- --------- -------- ---- Liquids (Bbls)* 30,000 20,000 10,000 50% Oil (Bbls)* 46,000 62,000 (16,000) (26%) Natural gas (MCF)** 830,000 1,002,000 (172,000) (17%) *Bbls = stock tank barrel equivalent to 42 U.S. gallons **MCF = 1,000 cubic feet Oil and natural gas revenues increased $780,000 (33%) for the three months ended December 31, 1999, as compared to the same period in 1998, due to 84%, 70% and 41% increases in oil, natural gas liquids, and natural gas prices, respectively, and a 50% increase in natural gas liquids net production. The increase was partially offset by 26% and 17% decreases in oil and natural gas net production, respectively, due to normal production declines at the Company's mature properties, Thornbury, Hillsdown, Highvale, Gilby and Zama. Natural gas net production at Dunvegan, the Company's principal gas property, has increased due in part to the well recompletions performed last year, and has accordingly abated a portion of the decrease in production from the aforementioned properties. Contract Drilling - ----------------- Contract drilling revenues and costs increased $230,000 (31%) and $185,000 (32%), respectively, for the three months ended December 31, 1999, as compared to the same period in 1998, as one of the drilling contracts in the three months ended December 31, 1999 was operating 24 hours a day, seven days a week. The drill rigs operating in the three months ended December 31, 1998 were used five days a week during daylight only. Accordingly, operating profit before depreciation increased $45,000 (26%) to $219,000 for the three months ended December 31, 1999, as compared to $174,000 for the same period in 1998. 12 PART II. OTHER INFORMATION Item 6. Exhibits and reports on Form 8-K None. SIGNATURE --------- 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. BARNWELL INDUSTRIES, INC. - ------------------------- (Registrant) /s/ Russell M. Gifford - ------------------------- Russell M. Gifford Executive Vice President, Chief Financial Officer Date: February 14, 2000 EX-27 2
5 This schedule contains summary financial information extracted from Barnwell Industries Inc.'s fiscal 2000 first quarter 10-QSB and is qualified in its entirety by reference to such 10-QSB. 1000 3-MOS SEP-30-2000 DEC-31-1999 2716 0 1659 196 106 5244 61240 37168 33218 6358 11736 0 0 821 7738 33218 4110 4310 1511 1511 704 0 204 1171 631 540 0 0 0 540 .41 .41
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