f10q_090611.htm

0001171843-11-002693.txt : 20110906 0001171843-11-002693.hdr.sgml : 20110905 20110906090042 ACCESSION NUMBER: 0001171843-11-002693 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 11 CONFORMED PERIOD OF REPORT: 20110731 FILED AS OF DATE: 20110906 DATE AS OF CHANGE: 20110906 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ELECSYS CORP CENTRAL INDEX KEY: 0000914398 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRONIC COMPONENTS, NEC [3679] IRS NUMBER: 481099142 STATE OF INCORPORATION: KS FISCAL YEAR END: 0430 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-15057 FILM NUMBER: 111074756 BUSINESS ADDRESS: STREET 1: 846 N. MART-WAY COURT CITY: OLATHE STATE: KS ZIP: 66061 BUSINESS PHONE: 913-647-0158 MAIL ADDRESS: STREET 1: 846 N. MART-WAY COURT CITY: OLATHE STATE: KS ZIP: 66061 FORMER COMPANY: FORMER CONFORMED NAME: AIRPORT SYSTEMS INTERNATIONAL INC DATE OF NAME CHANGE: 19931103 10-Q 1 f10q_090611.htm FORM 10-Q f10q_090611.htm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 10-Q

(X) QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

for the quarterly period ended July 31, 2011.

( ) TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

for the transition period from _____________ to ______________.

Commission File Number 0-22760

ELECSYS CORPORATION

(Exact name of Registrant as Specified in its Charter)

Kansas	48-1099142
(State or other jurisdiction of Incorporation or organization)	(I.R.S. Employer Identification No.)

846 N. Mart-Way Court Olathe, Kansas	66061
(Address of principal executive offices)	(Zip Code)

(913) 647-0158

(Registrant's telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes [X] No [ ]

Indicate by check mark whether the registrant has submitted electronically and posted in its corporate website, if any, every Interactive Date File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

Yes [X] No [ ]

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer. See definition of “accelerated filer and large accelerated filer” in Rule 12b-2 of the Exchange Act.

[ ] Large accelerated filer [ ] Accelerated filer [ ] Non-accelerated filer [X] Smaller Reporting Company

Indicate by check mark whether registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes [ ] No [X]

Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date: Common stock, $0.01 par value – 3,789,012 shares outstanding as of September 1, 2011.

Page 1

ELECSYS CORPORATION AND SUBSIDIARY

FORM 10-Q

Quarter Ended July 31, 2011

INDEX

		Page
PART I - FINANCIAL INFORMATION

ITEM 1.	Consolidated Financial Statements
	Condensed Consolidated Statements of Operations - Three months ended July 31, 2011 and 2010 (Unaudited)	3
	Condensed Consolidated Balance Sheets - July 31, 2011 (Unaudited) and April 30, 2011	4
	Condensed Consolidated Statements of Stockholders’ Equity – Three months ended July 31, 2011 (Unaudited) and the year ended April 30, 2011	5
	Condensed Consolidated Statements of Cash Flows - Three months ended July 31, 2011 and 2010 (Unaudited)	6
	Notes to Condensed Consolidated Financial Statements (Unaudited)	7

ITEM 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operation	20

ITEM 3.	Quantitative and Qualitative Disclosures About Market Risk	28

ITEM 4.	Controls and Procedures	28


PART II - OTHER INFORMATION

ITEM 1.	Legal Proceedings	29

ITEM 1A.	Risk Factors	29

ITEM 2.	Unregistered Sales of Equity Securities and Use of Proceeds	29

ITEM 3.	Defaults Upon Senior Securities	29

ITEM 4.	Removed and Reserved	29

ITEM 5.	Other Information	29

ITEM 6.	Exhibits	29

Signatures		30

Exhibit Index		31

Page 2

PART I – FINANCIAL INFORMATION

ITEM 1. Consolidated Financial Statements.

Elecsys Corporation and Subsidiary

Condensed Consolidated Statements of Operations

(In thousands, except per share data)

(Unaudited)

	Three Months Ended July 31,
	2011			2010
Sales	$	5,673		$	5,182
Cost of products sold		3,669			3,437
Gross margin		2,004			1,745

Selling, general and administrative expenses:
Research and development expense		342			316
Selling and marketing expense		538			419
General and administrative expense		735			764
Total selling, general and administrative expenses		1,615			1,499

Operating income		389			246

Financial expense:
Interest expense		(57	)		(77	)
Other expense, net		--			(7	)
Total financial expense		(57	)		(84	)

Net income before income tax expense		332			162

Income tax expense		119			55

Net income	$	213		$	107

Net income per share information:
Basic	$	0.06		$	0.03
Diluted	$	0.05		$	0.03

Weighted average common shares outstanding:
Basic		3,789			3,788
Diluted		3,930			3,894

See Notes to Condensed Consolidated Financial Statements.

Page 3

Elecsys Corporation and Subsidiary

Condensed Consolidated Balance Sheets

(In thousands, except share data)

	July 31, 2011			April 30, 2011
	(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents	$	373		$	460
Accounts receivable, less allowances of $147 and $144, respectively		2,372			2,801
Inventories, net		5,929			5,880
Prepaid expenses		80			69
Deferred taxes		687			662
Total current assets		9,441			9,872

Property and equipment:
Land		1,737			1,737
Building and improvements		3,395			3,395
Equipment		3,486			3,333
Total property and equipment, gross		8,618			8,465
Accumulated depreciation		(3,123	)		(3,072	)
Total property and equipment, net		5,495			5,393

Goodwill		1,942			1,942
Intangible assets, net		2,045			2,100
Other assets, net		59			60
Total assets	$	18,982		$	19,367

LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable	$	1,604		$	1,248
Accrued expenses		1,276			1,701
Income taxes payable		24			51
Current maturities of long-term debt		136			134
Total current liabilities		3,040			3,134

Deferred taxes		402			396
Long-term debt, less current maturities		4,425			4,960

Stockholders' equity:
Preferred stock, $.01 par value, 5,000,000 shares authorized; issued and outstanding – none		--			--
Common stock, $.01 par value, 10,000,000 shares authorized; issued and outstanding – 3,789,012 at July 31, 2011 and April 30, 2011		38			38
Additional paid-in capital		11,024			10,999
Retained earnings (accumulated deficit)		53			(160	)
Total stockholders' equity		11,115			10,877
Total liabilities and stockholders' equity	$	18,982		$	19,367

See Notes to Condensed Consolidated Financial Statements.

Page 4

Elecsys Corporation and Subsidiary

Condensed Consolidated Statements of Stockholders' Equity

(In thousands)

	Common Stock (# of shares)		Common Stock ($)		Additional Paid-In Capital		Retained Earnings (Accumulated Deficit)			Total Stockholders’ Equity
Balance at April 30, 2010		3,788	$	38	$	10,961	$	(1,032	)	$	9,967
Net income		--		--		--		872			872
Exercise of stock options		1		--		2		--			2
Share-based compensation expense		--		--		36		--			36
Balance at April 30, 2011		3,789		38		10,999		(160	)		10,877
Net income (unaudited)		--		--		--		213			213
Share-based compensation expense (unaudited)		--		--		25		--			25
Balance at July 31, 2011 (unaudited)		3,789	$	38	$	11,024	$	53		$	11,115

See Notes to Condensed Consolidated Financial Statements.

Page 5

Elecsys Corporation and Subsidiary

Condensed Consolidated Statements of Cash Flows

(In thousands)

(Unaudited)

	Three months ended July 31,
	2011			2010
Cash Flows from Operating Activities:
Net income	$	213		$	107
Adjustments to reconcile net income to net cash provided by operating activities:
Share-based compensation expense		25			6
Depreciation		92			110
Amortization		55			55
Provision for doubtful accounts		3			--
Loss on disposal of equipment		3			13
Deferred income taxes		(19	)		(127	)
Changes in operating assets and liabilities:
Accounts receivable		426			137
Inventories		(49	)		(175	)
Income tax payable		(27	)		302
Accounts payable		356			21
Accrued expenses		(425	)		(2	)
Other		(10	)		(12	)
Net cash provided by operating activities		643			435

Cash Flows from Investing Activities:
Purchases of property and equipment		(197	)		(8	)
Net cash (used in) investing activities		(197	)		(8	)

Cash Flows from Financing Activities:
Principal payments on note payable to bank		(500	)		(200	)
Proceeds from exercise of stock options		--			2
Principal payments on long-term debt		(33	)		(31	)
Net cash (used in) financing activities		(533	)		(229	)
Net (decrease) increase in cash and cash equivalents		(87	)		198
Cash and cash equivalents at beginning of period		460			493
Cash and cash equivalents at end of period	$	373		$	691

Supplemental Disclosure of Cash Flow Information:
Cash paid during the period for interest	$	60		$	77
Cash (paid) received during the period for income taxes		(164	)		120

See Notes to Condensed Consolidated Financial Statements..

Page 6

Elecsys Corporation and Subsidiary

Notes to Condensed Consolidated Financial Statements

July 31, 2011

(Unaudited)

1. NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT

ACCOUNTING POLICIES

Nature of Operations

Elecsys Corporation (“the Company”) provides innovative machine to machine (“M2M”) data acquisition, telemetry, and analysis systems, as well as custom electronic equipment, for critical industries worldwide. The Company’s proprietary equipment and services encompass rugged wireless remote monitoring, wireless communication, mobile computing, and radio frequency identification (“RFID”) technologies that are deployed wherever high quality and reliability are essential. The Company also manufactures and provides integrated displays and custom electronic assemblies to numerous industries. Primary markets include energy infrastructure, safety and security systems, industrial controls, irrigation and water management, transportation, military, and aerospace. The Company markets and supports proprietary technology and products and services under the Pipeline Watchdog, SensorCast, Director, Radix, eXtremeTAG, and DCI trade names.

The Company’s sales are made to customers within the United States and several international markets.

Principles of Consolidation

The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, Elecsys International Corporation. All significant intercompany balances and transactions have been eliminated in consolidation.

Comprehensive Income

The Company has no components of other comprehensive income, therefore comprehensive income equals net income.

Fair Value of Financial Instruments

The carrying amount of financial instruments, including cash, accounts receivable, accounts payable, and the current portion of long-term debt approximates fair value because of the short-term nature of these items.

The carrying value of the Company’s long-term debt approximates fair value as both the operating line of credit and the Industrial Revenue Bonds include a variable interest rate component. The operating line of credit was refinanced in October 2010. The operating line of credit has an interest rate that is tied to both the prime interest rate and the Company’s debt-to-tangible net worth ratio. The Industrial Revenue Bonds interest rate will be reset in September 2011.

Page 7

Recent Accounting Pronouncements

In October 2009, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2009-13, Revenue Recognition (Accounting Standards Codification [“ASC”] Topic 605): Multiple-Deliverable Revenue Arrangements (a consensus on the FASB Emerging Issues Task Force [“EITF”]); effective for years beginning after June 15, 2010. Vendors often provide multiple products and/or services to their customers as part of a single arrangement. These deliverables may be provided at different points in time or over different time periods. The existing guidance regarding how and whether to separate these deliverables and how to allocate the overall arrangement consideration to each was originally captured in EITF Issue No. 00-21, Revenue Arrangements with Multiple Deliverables, which is now codified at ASC Topic 605-25, Revenue Recognition – Multiple-Element Arrangements. The issuance of ASU 2009-13 amends ASC Topic 605-25 and represents a significant shift from the existing guidance that was considered abuse-preventative and heavily geared toward ensuring that revenue recognition was not accelerated. The application of this new guidance is expected to result in accounting for multiple-deliverable revenue arrangements that better reflects their economics as more arrangements will be separated into individual units of accounting. The adoption of ASU No. 2009-13 did not have an impact on the Company’s financial statements or results from operations.

In June 2011, the FASB issued ASU No. 2011-05, Presentation of Comprehensive Income, effective for interim periods and years beginning after December 15, 2011. The issuance of ASU 2011-5 is intended to improve the comparability, consistency and transparency of financial reporting and to increase the prominence of items reported in other comprehensive income. The guidance in ASU 2011-5 supersedes the presentation options in ASC Topic 220 and facilitates convergence of U.S. generally accepted accounting principles and International Financial Reporting Standards by eliminating the option to present components of other comprehensive income as part of the statement of changes in stockholders’ equity and requiring that all nonowner changes in stockholders’ equity be presented either in a single continuous statement of comprehensive income or in two separate but consecutive statements. The Company does not expect any impact on its financial statements upon adopting ASU No. 2011-05.

Revenue Recognition

The Company derives revenue from the manufacture of production units of electronic assemblies, liquid crystal displays, and its proprietary products including its remote monitoring equipment, RFID technology and solutions and its mobile computing products. The Company also derives revenue from repairs and non-warranty services, engineering design services, remote monitoring services and maintenance contracts. Production and repaired units are billed to the customer when they are shipped. Remote monitoring services and maintenance contracts are billed and the revenue recognized at the end of the month the services are provided or maintenance periods are completed. Customers that utilize the Company’s engineering design services are billed and revenue is recognized when the design services or tooling have been completed. The Company requires its customers to provide a binding purchase order to verify the manufacturing services to be provided. Typically, the Company does not have any post-shipment obligations, including customer acceptance requirements. The Company does provide training and installation services to its customers and those services are billed and the revenue recognized at the end of the month the services are completed. Revenue recognized is net of any sales taxes, tariffs, or duties remitted to any governmental authority.

Page 8

Accounts Receivable

Accounts receivable are carried at original invoice amount less an estimate made for doubtful receivables based on a review of all outstanding amounts on a monthly basis. Management determines the allowance for doubtful accounts by regularly evaluating individual customer receivables, considering a customer’s financial condition and credit history, and considering current economic conditions. Receivables are written off when deemed uncollectible. Recoveries of receivables previously written off are recorded when received. The majority of the customer accounts are considered past due after the invoice becomes older than the customer’s credit terms (30 days for the majority of customers). Interest is not charged on past due accounts for the majority of the Company’s customers.

Inventories

Inventories are stated at the lower of cost, using the first-in, first-out (FIFO) method, or market value. The Company’s industry is characterized by rapid technological change, short-term customer commitments and rapid changes in demand, as well as other market considerations. Provisions for estimated excess and obsolete inventory are based on quarterly reviews of inventory quantities on hand and the latest forecasts of product demand and production requirements from customers. Inventories are reviewed in detail on a quarterly basis utilizing a 24-month time horizon. Individual part numbers that have not been used in a 24-month time period are examined by manufacturing personnel for obsolescence, excess and fair value. Parts that are not identified for common use or are unique to a former customer or application are categorized as obsolete and are allowed for as part of the quarterly inventory write-down. If actual market conditions or customers’ product demands are less favorable than those projected, additional inventory write-downs may be required.

Property and Equipment

Property and equipment are recorded at cost. Depreciation is computed using the straight-line method over the following estimated useful lives:

Description	Years
Building and improvements	39
Equipment	3-8

Goodwill

Goodwill is initially measured as the excess of the cost of an acquired business over the fair value of the identifiable net assets acquired. The Company does not amortize goodwill, but rather reviews its carrying value for impairment annually (January 31) and whenever an impairment indicator is identified. The goodwill impairment test involves a two-step approach. The first step is to identify if potential impairment of goodwill exists. If impairment of goodwill is determined to exist, the second step of the goodwill impairment test measures the amount of the impairment using a fair value-based approach. No impairment indicators were identified as of July 31, 2011.

Page 9

Intangible Assets

Intangible assets consist of patents, trademarks, copyrights, customer relationships and capitalized software. Intangible assets are amortized over their estimated useful lives using the straight-line method. The useful lives of the Company’s intangible assets range from 5 – 15 years.

Impairment of Long-Lived Intangible Assets

Long-lived assets, including amortizable intangible assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or group of assets may not be fully recoverable. These events or changes in circumstances may include a significant deterioration of operating results, changes in business plans, or changes in anticipated future cash flows. If an impairment indicator is present, the Company evaluates recoverability by a comparison of the carrying amount of the assets to future undiscounted cash flows expected to be generated by the assets. If the sum of the expected future undiscounted cash flows is less than the carrying amount, the Company would recognize an impairment loss. An impairment loss would be measured by comparing the amount by which the carrying value exceeds the fair value of the long-lived assets and intangibles.

Income Taxes

The Company accounts for income taxes in accordance with ASC Topic 740, Income Taxes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to the differences between the tax bases of assets and liabilities and their carrying amount for financial reporting purposes, as measured by the enacted tax rates which will be in effect when these differences are expected to reverse. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. In assessing the realizability of deferred income tax assets, the Company considers whether it is “more likely than not,” according to the criteria of ASC Topic 740, that some portion or all of the deferred income tax assets will be realized. The ultimate realization of deferred income tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. ASC Topic 740 requires that the Company recognize the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more likely than not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the relevant tax authority.

Warranty Reserve

The Company has established a warranty reserve for rework, product warranties and customer refunds. The Company provides a limited warranty for a period of one year from the date of receipt of products by customers and the Company offers extended warranties for additional purchase by its customers. The standard warranties require the Company to repair or replace defective products at no cost to the customer or refund the customer’s purchase price. The warranty reserve is based on historical experience and analysis of specific known and potential warranty issues. The product warranty liability reflects management’s best estimate of probable liability under the product warranties.

Page 10

Shipping and Handling Costs

Shipping and handling costs that are billed to our customers are recognized as revenues in the period that the product is shipped. Shipping and handling costs that are incurred by the Company are recognized as cost of sales in the period that the product is shipped.

Subsequent Events

The Company evaluates all subsequent events and transactions for potential recognition or disclosure in its financial statements. There are no matters which require disclosure.

2. BASIS OF PRESENTATION

The accompanying unaudited condensed consolidated financial statements of the Company include the accounts of the Company and its wholly owned subsidiary, Elecsys International Corporation. All significant intercompany balances and transactions have been eliminated. The condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles in the United States for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three-month period ended July 31, 2011 are not necessarily indicative of the results that may be expected for the year ending April 30, 2012.

The balance sheet at April 30, 2011 has been derived from the audited financial statements at that date but does not include all of the information and footnotes required by generally accepted accounting principles in the United States for complete financial statements.

For further information, refer to the consolidated financial statements and footnotes included in the Company’ annual report on Form 10-K for the year ended April 30, 2011.

Page 11

3. INTANGIBLE ASSETS AND GOODWILL

The Company’s total intangible assets consist of the following (in thousands):

			July 31, 2011					April 30, 2011
Intangible Asset Description	Estimated Useful Lives		Gross Carrying Amount		Accumulated Amortization			Gross Carrying Amount		Accumulated Amortization
Patents, trademarks and copyrights		10 – 15	$	852	$	(285	)	$	852	$	(268	)
Customer relationships		5 – 15		1,040		(330	)		1,040		(310	)
Trade name		15		530		(138	)		530		(129	)
Technologies		13 – 15		475		(99	)		475		(90	)
			$	2,897	$	(852	)	$	2,897	$	(797	)

Amortization expense for the three-month periods ended July 31, 2011 and 2010 was approximately $55,000 in each respective period.

Estimated amortization expense for the next five fiscal years ending April 30 is as follows (in thousands):

Year	Amounts
2012 (remaining)	$	159
2013		202
2014		202
2015		187
2016		166

The carrying amount of the Company’s goodwill at July 31, 2011 and April 30, 2011 was approximately $1,942,000. There were no changes in the carrying amount of goodwill for the three-month periods ended July 31, 2011 and 2010.

The Company has evaluated the performance related contingent consideration provisions of the asset purchase agreements for its Radix International Corporation (“Radix”) and MBBS, S.A. (“MBBS”) acquisitions in fiscal years 2008 and 2010, respectively. As of July 31, 2011, the Company has determined that based on the terms of the agreements and current projections, no contingent consideration is expected to be due in either the Radix or MBBS transactions.

Page 12

4. INVENTORY

Inventories are stated at the lower of cost or fair value, using the first-in, first-out (FIFO) method. Inventories for the periods ended July 31, 2011 and April 30, 2011, respectively are summarized by major classification as follows (in thousands):

	July 31, 2011		April 30, 2011
Raw material	$	2,713	$	2,926
Work-in-process		982		858
Finished goods		2,234		2,096
	$	5,929	$	5,880

5. STOCK-BASED COMPENSATION

At July 31, 2011, the Company had two equity-based compensation plans from which stock-based compensation awards are granted to eligible employees and consultants of the Company. These stock-based compensation plans include the: (i) 1991 Stock Option Plan (the “1991 Plan”) and (ii) 2010 Equity Incentive Plan (the “2010 Plan”).

According to the terms of the Company’s original 1991 stock option plan for which the Company originally reserved 675,000 shares of common stock, both incentive stock options and non-qualified stock options to purchase common stock of the Company may be granted to key employees, directors and consultants to the Company, at the discretion of the Board of Directors. Incentive stock options may not be granted at prices that are less than the fair market value on the date of grant. Non-qualified options may be granted at prices determined appropriate by the Board of Directors of the Company, but have not been granted at less than market value on the date of grant. Generally, these options become exercisable and vest over one to five years and expire within 10 years of the date of grant. The 1991 Plan also provides for accelerated vesting if there is a change in control of the Company. As of July 31, 2011, there were options remaining outstanding to acquire 279,250 share of common stock under the 1991 Plan.

The 2010 Plan is an omnibus plan that allows for equity awards including stock options (including incentive stock options and non-qualified options), stock appreciation rights, restricted shares, restricted share units, performance shares, performance units, and other equity-based awards payable in cash or stock to officers, directors, key employees and other service providers. Under the 2010 Plan, the Company has the ability to grant up to 380,000 shares of common stock. The number of shares granted to eligible participants will be determined by the Board of Directors on an annual basis based on Company and individual performance and a Compensation Committee analysis. The awards under the 2010 Plan will include vesting provisions that will require participants (other than non-employee directors) to remain at the Company for a defined period of time. Options and stock appreciation rights will expire 10 years after the grant date. The 2010 Plan also includes a change of control provision which allows for accelerated vesting if there is a change of control of the Company. As of July 31, 2011, there were options outstanding to acquire 85,000 shares of common stock and 7,200 shares of restricted common stock awards granted under the 2010 Plan.

Page 13

The Company accounts for its stock-based compensation plan in accordance with ASC Topic 718, Compensation-Stock Compensation. ASC Topic 718 requires the measurement and recognition of compensation expense for all stock-based payment awards based on estimated fair value. It further requires companies to estimate the fair value of stock-based payment awards on the date of the grant using an option pricing model. The value of the portion of the award that is ultimately expected to vest is recognized as expense over the requisite service periods.

The fair value of each option award is estimated on the date of grant using the Black-Scholes option pricing model, which uses the following weighted-average assumptions for the three-month periods ended July 31, 2011 and 2010.

	Three Months Ended July 31, 2011			Three Months Ended July 31, 2010
Risk-free interest rate		2.97	%		2.42	%
Expected life, in years		6			6
Expected volatility		73.43 – 73.61	%		61.27	%
Dividend yield		0.0	%		0.0	%
Forfeiture rate		9.60	%		9.60	%

The Company uses historical data to estimate option exercises and employee terminations used in the model. Expected volatility is based on monthly historical fluctuations of the Company’s common stock using the closing market value for the number of months of the expected term immediately preceding the grant. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of the grant for a bond with a similar term.

The Company receives a tax deduction for certain stock option exercises and disqualifying stock dispositions generally for the excess of the price at which the options are sold over the exercise prices of the options. In accordance with ASC Topic 718, the Company reports any tax benefit from the exercise of stock options as financing cash flows. For the three-month periods ended July 31, 2011 and 2010, there were no exercises of stock options which triggered tax benefits.

At July 31, 2011, there was approximately $318,000 of unrecognized compensation cost related to share-based payments that is expected to be recognized over a weighted-average period of 2.19 years.

Page 14

The following tables represent equity award activity for the three-month period ended July 31, 2011:

Stock Options	Number of Shares		Weighted-Average Exercise Price		Weighted-Average Remaining Contract Life
Outstanding options at April 30, 2011		279,250	$	2.48	3.77 Years
Granted		85,000	$	5.11
Exercised		--		--
Forfeited		--		--
Outstanding options at July 31, 2011		364,250	$	3.10	5.00 Years

Outstanding exercisable at July 31, 2011		240,167	$	2.22	2.68 Years

Restricted Stock	Number of Shares		Weighted-Average Price		Weighted-Average Remaining Contract Life
Outstanding awards at April 30, 2011		--		--
Granted		7,200	$	5.01	9.75 Years
Exercised		--		--
Forfeited		--		--
Outstanding awards at July 31, 2011		7,200	$	5.01	9.75Years

Outstanding vested at July 31, 2011		--	$	--

Shares available for future equity awards to employees, officers, directors and consultants of the Company under the existing 1991 Plan and 2010 Plan were 16,750 and 287,800, respectively, at July 31, 2011. At July 31, 2011 the aggregate intrinsic value of options and restricted stock outstanding was approximately $1,037,000, and the aggregate intrinsic value of options exercisable was approximately $890,000. The Company recognized share-based compensation expense of $25,000 and $6,000 for the three-month periods ended July 31, 2011 and 2010, respectively. The weighted-average fair value of the options and restricted stock granted in the three-month period ended July 31, 2011 was $3.39 per stock option and $3.32 per restricted share.

Page 15

The following table summarizes information about equity awards outstanding at July 31, 2011:

	Options Outstanding						Options Exercisable
Range of Exercise Prices	Number Outstanding at July 31, 2011		Weighted- Average Remaining Contractual Life		Weighted- Average Exercise Price		Number Exercisable at July 31, 2011		Weighted- Average Exercise Price
$0.01 - $1.00		95,000	0.73 years		$	0.81		95,000	$	0.81
$1.01 - $2.00		47,500	1.34 years		$	1.25		47,500	$	1.25
$2.01 - $3.00		--		--		--		--		--
$3.01 - $4.00		121,000	6.12 years		$	3.73		85,500	$	3.69
$4.01 - $5.00		--		--		--		--		--
$5.01 - $6.00		97,200	8.93 years		$	5.14		5,000	$	5.90
$6.01 - $7.00		--		--		--		--		--
$7.01 - $8.00		10,750	7.12 years		$	7.05		7,167	$	7.05
Total		371,450	4.90 years		$	3.13		240,167	$	2.22

6. NET INCOME (LOSS) PER SHARE

The following table presents the calculation of basic and diluted income (loss) per share (in thousands):

	Three Months Ended July 31,
	2011		2010
Numerator:
Net income	$	213	$	107

Denominator:
Weighted average common shares outstanding – basic		3,789		3,788
Effect of dilutive options outstanding		141		106
Weighted average common shares outstanding – diluted		3,930		3,894

Options to purchase 108,950 and 118,250 shares of common stock as of July 31, 2011 and 2010, respectively, were anti-dilutive and therefore were not included in the computation of diluted earnings per share for the three-month periods ended July 31, 2011 and 2010.

7. PLEDGED ASSETS, NOTES PAYABLE AND LONG-TERM DEBT

As of July 31, 2011, the Company had two credit agreements including an operating line of credit and Industrial Revenue Bonds that are secured by its production and headquarters facility in Olathe, Kansas.

Page 16

The Company’s $6,000,000 operating line of credit provides the Company and its wholly-owned subsidiary with short-term financing for their working capital requirements. The line of credit’s borrowing capacity is calculated as a specified percentage of accounts receivable and inventory on a monthly basis and was most recently amended on October 21, 2010. The amendment added the Company’s wholly-owned subsidiary, Elecsys International Corporation, as a borrower, extended the expiration date of the line of credit to October 30, 2012, and modified the covenants to include a debt service coverage ratio. The total amount of borrowing base for the line of credit as of July 31, 2011 was approximately $4,500,000, of which $3,050,000 was available. It is secured by accounts receivable and inventory and accrues interest at a performance-based rate that is based on the prime rate (3.25% at July 31, 2011) plus/minus 0.5% and has an interest rate floor of 3.50%. The interest rate actually assessed is determined by the Company’s debt-to-tangible net worth ratio and was 3.5% on July 31, 2011. The loan agreement has various covenants, including a financial covenant pertaining to the maintenance of total tangible net worth and a required debt service coverage ratio. The $1,450,000 in borrowings outstanding on the line of credit as of July 31, 2011 is presented on the balance sheet as long-term in accordance with the terms of the line of credit.

The following table is a summary of the Company’s long-term debt and related current maturities (in thousands):

	July 31, 2011		April 30, 2011
Industrial revenue bonds, Series 2006A, 5-year adjustable interest rate based on the yield on 5-year United States Treasury Notes, plus .45% (5.30% as of July 31, 2011), due in monthly principal and interest payments beginning October 1, 2006 through maturity on September 1, 2026, secured by real estate. Effective September 1, 2011, the 5-year adjustable interest rate was reset to 1.89% for the next five years.	$	3,111	$	3,144

Operating line of credit, $6,000,000 limit on borrowing capacity, prime rate (3.25% at July 31, 2011) plus/minus 0.5% performance based interest, due in full on October 30, 2012, secured by accounts receivable and inventory. The interest rate as of July 31, 2011 was 3.5%		1,450		1,950
		4,561		5,094
Less current maturities		136		134
Total long-term debt	$	4,425	$	4,960

Page 17

The approximate aggregate amount of principal to be paid on the long-term debt and line of credit during each of the next five fiscal years ending April 30 is as follows (in thousands):

Year	Amount
2012 (remaining)	$	101
2013		1,592
2014		150
2015		158
2016		167
Thereafter		2,393
	$	4,561

8. SEGMENT REPORTING

The Company operates and measures the sales and gross margins of two primary business segments, Electronic Design and Manufacturing Services (“EDMS”) and Proprietary Products (“Proprietary”). The EDMS business segment consists primarily of custom electronic assemblies, engineering services, custom liquid crystal displays and other interface technologies. The Proprietary business segment is made up remote monitoring hardware and messaging services, ultra-rugged handheld computers, peripherals and maintenance contract revenues, and RFID solutions. The following table (in thousands) presents segment revenues and gross margins which the Company evaluates in determining overall operating performance and the allocation of resources. Other segment information such as components of the Statement of Operations below the gross margin total and assets or other balance sheet information are not presented. As the Company’s operations of the two segments are so intertwined, the Company’s chief operating decision maker (Elecsys International Corporation’s President) does not review that financial information at a segment reporting level and that information is also not readily available.

	Three Months Ended July 31, 2011
	EDMS		Proprietary		Total

Total sales	$	3,310	$	2,363	$	5,673

Segment gross margin	$	781	$	1,223	$	2,004

Goodwill	$	--	$	1,942	$	1,942

Page 18

	Three Months Ended July 31, 2010
	EDMS		Proprietary		Total

Total sales	$	3,043	$	2,138	$	5,182

Segment gross margin	$	615	$	1,130	$	1,745

Goodwill	$	--	$	1,942	$	1,942

The following table reconciles total revenues to the products and services offered by the Company (in thousands).

	Three Months Ended July 31,
	2011		2010
Products and services:
Electronic interface assemblies	$	3,174	$	2,939
Remote monitoring solutions		1,733		1,338
Rugged mobile computing		543		728
Engineering services		85		65
Other		138		112
Total sales	$	5,673	$	5,182

9. WARRANTY

The Company provides a limited warranty for a period of one year from the date of a customer’s receipt of its products, or one year from the installation date for some of its products, and will also provide an extended warranty for additional purchase price to the customer. The Company’s standard warranties require the Company to repair or replace defective products at no cost to the customer or refund the customer’s purchase price. The Company’s product warranty liability reflects management’s best estimate of probable liability under product warranties. Management determines the liability based on known product failures (if any), historical experience, and other currently available evidence.

The following table presents changes in the Company’s warranty liability, which is included in accrued expenses on the balance sheets (in thousands):

	Three Months Ended July 31,
	2011			2010
Warranty reserve balance at beginning of period	$	165		$	221
Expense accrued		50			3
Warranty costs incurred		(39	)		(40	)
Warranty reserve balance at end of period	$	176		$	184

Page 19

ITEM 2. Management’s Discussion and Analysis of Financial Condition and Results of Operation.

Overview

Elecsys Corporation provides innovative data acquisition systems, machine to machine (“M2M”) communication technology solutions, and custom electronic equipment for critical industrial applications worldwide. Our primary markets include energy production and distribution, agriculture, safety and security systems, water management, aerospace, military, and transportation. Our proprietary equipment and services encompass rugged remote monitoring, wireless industrial communication, cyber security, mobile computing, and radio frequency identification (“RFID”) technologies that are deployed wherever high quality and reliability are essential. We develop, manufacture, and support proprietary technology and products for various markets under several premium brand names. In addition to our proprietary products, we design and manufacture rugged and reliable custom electronic assemblies and integrated liquid crystal displays (“LCDs”) to multiple original equipment manufacturers (“OEMs”) in a variety of industries worldwide.

Results of Operations

Three Months Ended July 31, 2011 Compared With Three Months Ended July 31, 2010.

The following table sets forth, for the periods presented, certain statement of operations data of the Company:

	Three Months Ended
	(In thousands, except per share data)
	July 31, 2011					July 31, 2010
Sales	$	5,673		100.0	%	$	5,182		100.0	%
Cost of products sold		3,669		64.7	%		3,437		66.3	%
Gross margin		2,004		35.3	%		1,745		33.7	%
Selling, general and administrative expenses		1,615		28.5	%		1,499		28.9	%
Operating income		389		6.9	%		246		4.8	%
Interest expense		(57	)	(1.0	%)		(77	)	(1.5	%)
Other income, net		--		0.0	%		(7	)	(0.1	%)
Income before income tax expense		332		5.9	%		162		3.2	%
Income tax expense		119		2.3	%		55		1.1	%
Net income	$	213		3.6	%	$	107		2.1	%
Net income per share – basic	$	0.06				$	0.03
Net income per share – diluted	$	0.05				$	0.03

Page 20

Sales for the three months ended July 31, 2011 were approximately $5,673,000, an increase of $491,000, or 9.5%, from $5,182,000 for the comparable period of fiscal 2011.

Proprietary products. Sales of our proprietary products and services were $2,363,000 for the three-month period ended July 31, 2011, which was a $225,000, or 10.5%, increase from sales of $2,138,000 in the prior year period.

Sales of our wireless remote monitoring and secure industrial communication solutions were approximately $1,733,000 for the three-month period ended July 31, 2011, which was an increase of $395,000, or 29.5%, from $1,338,000 during the three-month period ended July 31, 2010. The overall increase in sales of remote monitoring equipment and services was driven by the increase in customer orders received and shipped due to our continued focus on sales, marketing, and new product development as well as an increase in our recurring data management services. Data management services revenue continues to grow as a function of the growing population of monitoring units deployed in the field. Overall, data management services revenue totaled approximately $193,000, an increase of $39,000, or 25.3%, from data management services revenue of $154,000 reported in the comparable period of the prior fiscal year. We are experiencing strong interest and demand for our WatchdogCP, SensorCast and Director solutions and expect similar potential from new products being developed. We expect that sales of our wireless remote monitoring and secure industrial communication solutions will continue to increase over the next few quarters.

Sales of our Radix rugged handheld computer hardware, peripherals and related services, including maintenance contract revenues and our RFID solutions, were approximately $543,000, a decrease of $185,000, or 25.4%, from the prior year period. We made fewer shipments of Radix computer hardware and eXtremeTAG RFID tags during the period which led to a sales decrease of approximately $116,000. Recurring maintenance contract revenues posted a decrease for the three-month period ended July 31, 2011 of approximately $62,000, or 21.6%, as a result of budgetary constraints at many of our municipal customers that led them to discontinue their maintenance plans. We expect the Radix FW950, its related peripherals and product enhancements, maintenance contract revenues, and our eXtremeTAG RFID tags and solutions, will likely produce an increase in sales from the recently completed three-month period ended July 31, 2011 but relatively flat sales over the next few quarters as compared to comparable periods in the prior fiscal year as a result of the overall uncertain economic conditions in our targeted markets.

EDMS. Sales for the EDMS business segment were approximately $3,310,000, an increase of $267,000, or 8.8%, from $3,043,000 in the prior year period. The increase in sales was a result of continued increases in bookings during the last few quarters led by the addition of new orders from several existing EDMS customers. As a result of the increase in bookings and feedback from customers, we anticipate that EDMS sales will continue with moderate growth over the near term as compared to EDMS sales from the previous year. We have based this forecast upon the amount of current scheduled orders in our backlog, the continued transition of several projects from our design engineering group into production and the anticipated addition of new EDMS customers. However, the impact of uncertain economic conditions could adversely affect sales over the next few quarters.

Page 21

Other revenues. Additional miscellaneous revenues, which have been allocated between the EDMS and Proprietary Products business segments for segment disclosure purposes, totaled approximately $223,000 for the three-month period ended July 31, 2011. These revenues are related to service and repair, technical consulting fees, engineering services, and freight billings. These sales totaled approximately $177,000 in the three-month period ended July 31, 2010.

Total consolidated backlog at July 31, 2011 was approximately $5,779,000, an increase of $21,000, or 0.4%, from a total backlog of $5,758,000 on April 30, 2011 and a decrease of approximately $416,000, or 6.7%, from a total backlog of $6,195,000 on July 31, 2010. EDMS orders typically specify several deliveries scheduled over a defined and extended period of time. Typically, orders for our proprietary products are completed and shipped to the customer soon after the order is received. Certain larger proprietary product orders may have specific deliveries scheduled over a longer period of time. We anticipate that the amount of our total backlog relative to our revenues will fluctuate as our mix of proprietary products and EDMS sales varies.

The following table presents the backlog by business segment for the periods ended July 31, 2011, April 30, 2011, and July 31, 2010 (in thousands).

	July 31, 2011		April 30, 2011		July 31, 2010
EDMS	$	5,586	$	4,936	$	5,855
Proprietary products		193		822		340
Total backlog	$	5,779	$	5,758	$	6,195

Gross margin for the three-month period ended July 31, 2011 was 35.3% of sales, or $2,004,000, compared to 33.7% of sales, or $1,745,000, for the three-month period ended July 31, 2010. This was an improvement of approximately $259,000 from the comparable period of the prior fiscal year.

Gross margin for the proprietary products business segment was approximately 51.8% of sales, or $1,223,000, for the three-month period ended July 31, 2011 as compared to 52.8% of sales, or $1,130,000, for the three-month period ended July 31, 2010. The gross margin for the EDMS business segment was $781,000, or 23.6% of sales, compared to $615,000, or 20.2% of sales, for the prior year period. The increase of $166,000 was the result of the increase in EDMS sales volumes from new and existing customers during the period and the related effect on production efficiency.

We expect that consolidated gross margins over the next few quarters will continue in the range of 32% to 37%, as our proprietary products continue to increase as a percentage of our overall total sales volume.

Selling, general and administrative (“SG&A”) expenses totaled approximately $1,615,000 for the three-month period ended July 31, 2011. This was an increase of $116,000, or 7.7%, from total SG&A expenses of $1,499,000 for the three-month period ended July 31, 2010. SG&A expenses were 28.5% of sales for the first fiscal quarter of 2012 as compared to 28.9% of sales for the comparable period for fiscal 2011.

Page 22

Research and development expenses increased $26,000 during the fiscal quarter as compared to the prior year period. This increase included investment in engineering development costs for new products and costs for additional engineering design personnel.

Selling and marketing expenses were $538,000 for the three-month period ended July 31, 2011 and $419,000 for the three-month period ended July 31, 2010. The increase of $119,000 was the result of the addition of a sales representative in the Middle East within the last year, increased commissions due to growing proprietary product sales, and an increase in product support and installation expenses linked to the increased number of proprietary units active in the field.

General and administrative expenses decreased approximately $29,000 from the comparable period of the prior year. The decrease is the result of a number of factors, including reductions in royalty expense due to the expiration of a royalty agreement, a decrease in personnel expenses, and the expiration of an office lease that was assumed in the SensorCast acquisition. These expense reductions were slightly offset by increases in corporate professional fees and equity compensation expenses.

Total SG&A expenses over the next few quarters are expected to increase slightly over the previous periods as a result of our continued investments in personnel, new product development, systems and capabilities.

Operating income for the three-month period ended July 31, 2011 was approximately $389,000, an increase of $143,000 from operating income of $246,000 reported for the three-month period ended July 31, 2010.

Financial expense, including interest, was $57,000 and $84,000 for the three-month periods ended July 31, 2011 and 2010, respectively. The decrease of $27,000 resulted from lower total outstanding borrowings compared to the previous fiscal year period. During the three-month period ended July 31, 2011, there were no additional borrowings on the operating line of credit and the Company made payments of $500,000 that lowered the total amount outstanding to $1,450,000. As of July 31, 2011, there was $3,247,000 outstanding in long-term borrowings compared to $3,371,000 at July 31, 2010. These long-term borrowings represent the Industrial Revenue Bonds related to the Company’s headquarters and production facility. We plan to continue making regular payments on our operating line of credit to lower the total amount of outstanding borrowings, but we may utilize the operating line of credit to fund increases in production activity when necessary.

Income tax expense was approximately $119,000 for the three-month period ended July 31, 2011. For the three-month period ended July 31, 2010, income tax expense was approximately $55,000. The $64,000 increase in income taxes was the result of higher income during the period. The effective income tax rate for the three-month period ended July 31, 2011 was 35.8%.

Page 23

As a combined result of the above factors, net income was $213,000, or $0.05 per diluted share, for the three-month period ended July 31, 2011 as compared to net income of $107,000, or $0.03 per diluted share, reported for the three-month period ended July 31, 2011.

Liquidity and Capital Resources

Cash and cash equivalents decreased $87,000 to $373,000 as of July 31, 2011 compared to $460,000 at April 30, 2011. This decrease was primarily the result of cash provided by an increase in net income and collection of accounts receivable offset by debt payments, reductions in accrued expenses and purchases of equipment.

Operating activities. Our consolidated working capital decreased approximately $337,000 during the three-month period ended July 31, 2011. The decrease was primarily due to a reduction in current assets partially offset by a slight decrease in current liabilities. Cash generated from operating activities as a result of a reduction in working capital was used in the purchase of equipment and payment of debt. Operating cash receipts totaled approximately $6,102,000 and $5,319,000 during the three-month periods ended July 31, 2011 and 2010, respectively. The increase is primarily the result of the increase in sales and profitability for the current period in combination with a slight reduction in receivables as compared to the prior year. Total cash disbursements for operations, which include purchases of inventory and operating expenses, were approximately $5,459,000 for the three-month period ended July 31, 2011 and $4,884,000 for the three-month period ended July 31, 2010.

Investing activities. Cash used in investing activities totaled $197,000 and $8,000 during the three-month periods ended July 31, 2011 and 2010, respectively, as a product of purchases of equipment.

Financing activities. As of July 31, 2011, we had a $6,000,000 operating line of credit that provided us and our wholly-owned subsidiary with short-term financing for our working capital requirements. The line of credit’s borrowing capacity is calculated as a specified percentage of accounts receivable and inventory on a monthly basis and expires on October 30, 2012. As of July 31, 2011, there were $1,450,000 borrowings outstanding on the operating line of credit. The total amount of borrowing base for the line of credit as of July 31, 2011 was approximately $4,500,000, with $3,050,000 available. It is secured by accounts receivable and inventory and accrues interest at a performance-based rate that is based on the prime rate (3.25% at July 31, 2011) plus/minus 0.5% and has an interest rate floor of 3.50%. The loan agreement has various covenants, including a financial covenant pertaining to the maintenance of total tangible net worth and a required debt service coverage ratio. The interest rate actually assessed is determined by our debt-to-tangible net worth ratio and the rate of 3.50% for the period was the lowest rate allowed under the terms of the operating line of credit. For the three-month period ended July 31, 2011 there were no additional borrowings on the operating line of credit. Total payments on the line of credit were $500,000 for the period while payments on long-term debt totaled approximately $33,000. Effective September 1, 2011, the 5-year adjustable interest rate was reset to 1.89% for the next five years on our outstanding industrial revenue bonds. For the three-month period ended July 31, 2010, financing activities included $231,000 of cash used in payment of long-term and line of credit debt along with $2,000 of proceeds from the exercise of stock options.

Page 24

Although there can be no assurances, we believe that existing cash, the cash expected to be generated from our operations, amounts available under our line of credit, and amounts available from trade credit, will be sufficient to finance our anticipated working capital needs, our capital expenditures, and our scheduled debt repayment for the foreseeable future.

Off-Balance Sheet Arrangements

We do not have any off-balance sheet arrangements.

Critical Accounting Policies

The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and related disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. We cannot ensure that actual results will not differ from those estimates. We believe the following critical accounting policies affect our more significant judgments and estimates used in the preparation of our consolidated financial statements.

Revenue Recognition. We derive revenue from the manufacture of production units of electronic assemblies, liquid crystal displays, and our proprietary products including our remote monitoring equipment, RFID technology and solutions and our mobile computing products. We also derive revenue from repairs and non-warranty services, engineering design services, remote monitoring services and maintenance contracts. Production and repaired units are billed to the customer after they are shipped. Remote monitoring services and maintenance contracts are billed and the revenue recognized at the end of the month the services or maintenance periods are completed. For customers that utilize our engineering design services, we bill the customer and recognize revenue after the design services or tooling have been completed. We require our customers to provide a binding purchase order to verify the manufacturing services to be provided and to ensure payment. Typically, we do not have any post-shipment obligations that would include customer acceptance requirements. We do provide training and installation services to our customers and those services are billed and the revenue recognized at the end of the month the services are completed. Revenue recognized is net of sales taxes, tariffs, or duties remitted to any governmental authority.

Inventory Valuation. Our inventories are stated at the lower of cost, using the first-in, first-out (FIFO) method, or fair value. Our industry is characterized by rapid technological change, short-term customer commitments and rapid changes in demand, as well as other market considerations. We make provisions for estimated excess and obsolete inventory based on our quarterly reviews of inventory quantities on hand and the latest forecasts of product demand and production requirements from our customers. We review our inventory in detail on a quarterly basis utilizing multiple annual time horizons ranging from 24-months to 60-months. Individual part numbers that have not been used within each of the time horizons are examined by manufacturing personnel for obsolescence, excess and fair value. Parts that are not identified for common use or are unique to a former customer or application are categorized as obsolete and are discarded as part of our quarterly inventory write-down. If actual market conditions or our customers’ product demands are less favorable than those projected, additional inventory write-downs may be required.

Page 25

Allowance for Doubtful Accounts. Accounts receivable are carried at original invoice amount less an estimate made for doubtful receivables based on a review of all outstanding amounts on a monthly basis. We determine the allowance for doubtful accounts by regularly evaluating individual customer receivables and considering a customer’s financial condition and credit history, and current economic conditions. Receivables are written off when deemed uncollectible. Recoveries of receivables previously written off are recorded when received. The majority of the customer accounts are considered past due after the invoice becomes older than the customer’s credit terms (30 days for the majority of customers). Interest is not charged on past due accounts for the majority of our customers.

Warranty Reserve. We have established a warranty reserve for rework, product warranties and customer refunds. We provide a limited warranty for a period of one year from the date of receipt of our products by our customers and we do offer extended warranties for additional purchase by our customers. Our standard warranties require us to repair or replace defective products at no cost to the customer or refund the customer’s purchase price. The warranty reserve is based on historical experience and analysis of specific known and potential warranty issues. The product warranty liability reflects management’s best estimate of probable liability under our product warranties.

Goodwill. Goodwill is initially measured as the excess of the cost of an acquired business over the fair value of the identifiable net assets acquired. We do not amortize goodwill, but rather review our carrying value for impairment annually (January 31), and whenever an impairment indicator is identified. The goodwill impairment test involves a two-step approach. The first step is to identify if potential impairment of goodwill exists. If impairment of goodwill is determined to exist, the second step of the goodwill impairment test measures the amount of the impairment using a fair value-based approach.

Intangible Assets. Intangible assets consist of patents, trademarks, copyrights, customer relationships, and capitalized software. Intangible assets are amortized over their estimated useful lives using the straight-line method. The useful lives of the intangible assets range from 5 – 15 years.

Impairment of Long-Lived Intangible Assets. Long-lived assets, including amortizable intangible assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or group of assets may not be fully recoverable. These events or changes in circumstances may include a significant deterioration of operating results, changes in business plans, or changes in anticipated future cash flows. If an impairment indicator is present, we evaluate recoverability by a comparison of the carrying amount of the assets to future undiscounted cash flows expected to be generated by the assets. If the sum of the expected future undiscounted cash flows is less than the carrying amount, we would recognize an impairment loss. An impairment loss would be measured by comparing the amount by which the carrying value exceeds the fair value of the long-lived assets and intangibles.

Page 26

Forward Looking Statements

This report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including, but not limited to, statements on strategy, operating forecasts, and our working capital requirements and availability. In addition, from time to time, the Company or its representatives have made or may make forward-looking statements, orally or in writing. Such forward-looking statements may be included in, but are not limited to, various filings made by the Company with the Securities and Exchange Commission, press releases or oral statements made by or with the approval of an authorized executive officer of the Company. Forward-looking statements consist of any statement other than a recitation of historical fact and can be identified by the use of forward-looking terminology such as "may," "expect," "anticipate," "estimate," or "continue" or the negative thereof or other variations thereon or comparable terminology. Actual results could differ materially from those projected or suggested in any forward-looking statements as a result of a wide variety of factors and conditions, including, but not limited to, an inability on the part of the Company to successfully market and grow its products and services, the Company’s dependence on its top customers, reliance on certain key management personnel, an inability to grow the Company’s customer base, an inability to integrate, manage and grow any acquired business or underlying technology, potential growth in costs and expenses, an inability to refinance the Company’s existing debt on terms comparable to those now in existence, potential deterioration of business or economic conditions for the Company’s customers’ products, price competition from larger and better financed competitors, and the factors and conditions described in the discussion of "Results of Operations" and “Liquidity and Capital Resources” as contained in Management's Discussion and Analysis of Financial Condition and Results of Operation of this report, as well as those included in other documents the Company files from time to time with the Securities and Exchange Commission, including the Company's quarterly reports on Form 10-Q, annual report on Form 10-K, and current reports on Form 8-K. Holders of the Company's securities are specifically referred to these documents with regard to the factors and conditions that may affect future results. The reader is cautioned that the Company does not have a policy of updating or revising forward-looking statements and thus he or she should not assume that silence by management of the Company over time means that actual events are bearing out as estimated in such forward-looking statements.

Page 27

ITEM 3. Quantitative and Qualitative Disclosures About Market Risk

The Company is a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and is not required to provide the information required under this item.

ITEM 4. Controls and Procedures

Evaluation of disclosure controls and procedures

The Company maintains disclosure controls and procedures, as such terms are defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended. The Company, under the supervision and with the participation of its management, including its Chief Executive Officer and Chief Financial Officer, has evaluated the effectiveness of the design and operation of such disclosure controls and procedures for this report. Based on such evaluation, the Chief Executive Officer and Chief Financial Officer have concluded that the Company’s disclosure controls and procedures were effective as of July 31, 2011.

Changes in Internal Control over Financial Reporting

There have not been any changes in the Company’s internal control over financial reporting during its last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting.

Page 28

PART II - OTHER INFORMATION

ITEM 1. Legal Proceedings.

None.

ITEM 1A. Risk Factors.

The Company is a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and is not required to provide the information required under this item.

ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds

None.

ITEM 3. Defaults Upon Senior Securities

None.

ITEM 4. Removed and Reserved

ITEM 5. Other Information

None.

ITEM 6. Exhibits

See Exhibit Index following the signature page.

Page 29

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	ELECSYS CORPORATION
September 6, 2011 Date	/s/ Karl B. Gemperli Karl B. Gemperli President and Chief Executive Officer (Principal Executive Officer)

September 6, 2011 Date	/s/ Todd A. Daniels Todd A. Daniels Vice President and Chief Financial Officer (Principal Financial and Accounting Officer)

Page 30

EXHIBIT INDEX

Item	Description

31.1	Rule 13a-14(a)/15d-14(a) Certification of President and Chief Executive Officer (Principal Executive Officer).

31.2	Rule 13a-14(a)/15d-14(a) Certification of Vice President and Chief Financial Officer (Principal Financial and Accounting Officer).

32.1	Section 1350 Certification of President and Chief Executive Officer (Principal Executive Officer).

32.2	Section 1350 Certification of Vice President and Chief Financial Officer (Principal Financial and Accounting Officer).

101	The following information from Elecsys Corporation’s Quarterly Report on Form 10-Q for the quarterly period ended July 31, 2011, formatted in Extensible Business Reporting Language (XBRL):

	(i) the Consolidated Balance Sheet,
	(ii) the Consolidated Statement of Operations,
	(iii) the Consolidated Statement of Cash Flows, and
	(iv) the Notes to Consolidated Financial Statements (tagged as blocks of text).

EX-31 2 exh_311.htm EXHIBIT 31.1 exh_311.htm

EXHIBIT 31.1

CERTIFICATIONS

I, Karl B. Gemperli, certify that:

1)	I have reviewed this quarterly report of Elecsys Corporation on Form 10-Q;

Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this quarterly report;

3)	Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report;

The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(f)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

Designed such disclosure controls and procedures or caused such disclosure controls and procedures to be designed under our supervision to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this quarterly report is being prepared;

Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c)	Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5)	The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent functions):

a)	All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b)	Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: September 6, 2011 /s/ Karl B. Gemperli

Karl B. Gemperli

President and Chief Executive Officer

EX-31 3 exh_312.htm EXHIBIT 31.2 exh_312.htm

EXHIBIT 31.2

CERTIFICATIONS

I, Todd A. Daniels, certify that:

1)	I have reviewed this quarterly report of Elecsys Corporation on Form 10-Q;

3)	Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report;

c)	Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

5)	The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent functions):

a)	All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b)	Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: September 6, 2011 /s/ Todd A. Daniels

Todd A. Daniels

Vice President and Chief Financial Officer

EX-32 4 exh_321.htm EXHIBIT 32.1 exh_321.htm

EXHIBIT 32.1

CERTIFICATION PURSUANT TO SECTION 906

OF THE SARBANES-OXLEY ACT OF 2002

I, Karl B. Gemperli, Chief Executive Officer of Elecsys Corporation (the “Company”), do hereby certify in accordance with 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to my knowledge:

a)	The Company’s Quarterly Report on Form 10-Q for the quarterly period ended July 31, 2011, which this certification accompanies, fully complies with the requirements of Section 13(a) or 15(d), as applicable, of the Securities Exchange Act of 1934, as amended; and

b)	The information contained in the Company’s Quarterly Report on Form 10-Q for the quarterly period ended July 31, 2011, which this certification accompanies, fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date: September 6, 2011 /s/ Karl B. Gemperli

Karl B. Gemperli

Chief Executive Officer

(Principal Executive Officer)

EX-32 5 exh_322.htm EXHIBIT 32.2 exh_322.htm

EXHIBIT 32.2

CERTIFICATION PURSUANT TO SECTION 906

OF THE SARBANES-OXLEY ACT OF 2002

I, Todd A. Daniels, Chief Financial Officer of Elecsys Corporation (the “Company”), do hereby certify in accordance with 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to my knowledge:

a)	The Company’s Quarterly Report on Form 10-Q for the quarterly period ended July 31, 2011, which this certification accompanies, fully complies with the requirements of Section 13(a) or 15(d), as applicable, of the Securities Exchange Act of 1934, as amended; and

b)	The information contained in the Company’s Quarterly Report on Form 10-Q for the quarterly period ended July 31, 2011, which this certification accompanies, fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date: September 6, 2011 /s/ Todd A. Daniels

Todd A. Daniels

Chief Financial Officer (Principal

Financial and Accounting Officer)

EX-101.INS 6 esys-20110731.xml XBRL INSTANCE DOCUMENT 0000914398 2011-05-01 2011-07-31 0000914398 2010-05-01 2010-07-31 0000914398 2011-07-31 0000914398 2011-04-30 0000914398 us-gaap:CommonStockMember 2010-04-30 0000914398 us-gaap:AdditionalPaidInCapitalMember 2010-04-30 0000914398 us-gaap:RetainedEarningsMember 2010-04-30 0000914398 2010-04-30 0000914398 us-gaap:RetainedEarningsMember 2010-05-01 2011-04-30 0000914398 2010-05-01 2011-04-30 0000914398 us-gaap:CommonStockMember 2010-05-01 2011-04-30 0000914398 us-gaap:AdditionalPaidInCapitalMember 2010-05-01 2011-04-30 0000914398 us-gaap:CommonStockMember 2011-04-30 0000914398 us-gaap:AdditionalPaidInCapitalMember 2011-04-30 0000914398 us-gaap:RetainedEarningsMember 2011-04-30 0000914398 us-gaap:RetainedEarningsMember 2011-05-01 2011-07-31 0000914398 us-gaap:AdditionalPaidInCapitalMember 2011-05-01 2011-07-31 0000914398 us-gaap:CommonStockMember 2011-07-31 0000914398 us-gaap:AdditionalPaidInCapitalMember 2011-07-31 0000914398 us-gaap:RetainedEarningsMember 2011-07-31 0000914398 2010-07-31 0000914398 2011-09-01 iso4217:USD iso4217:USD xbrli:shares xbrli:shares

5673000

5182000

3669000

3437000

2004000

1745000

342000

316000

538000

419000

735000

764000

1615000

1499000

389000

246000

57000

77000

-7000

-57000

-84000

332000

162000

119000

55000

213000

107000

0.06

0.03

0.05

0.03

3789000

3788000

3930000

3894000

373000

460000

2372000

2801000

147000

144000

5929000

5880000

80000

69000

687000

662000

9441000

9872000

1737000

3395000

3486000

3333000

8618000

8465000

3123000

3072000

5495000

5393000

1942000

2045000

2100000

59000

60000

18982000

19367000

1604000

1248000

1276000

1701000

24000

51000

136000

134000

3040000

3134000

402000

396000

4425000

4960000

0.01

5000000

38000

0.01

10000000

3789012

11024000

10999000

53000

-160000

11115000

10877000

18982000

19367000

3788000

38000

10961000

-1032000

9967000

872000

1000

2000

36000

3789000

38000

10999000

-160000

213000

25000

3789000

38000

11024000

53000

25000

6000

92000

110000

55000

3000

-3000

-13000

-19000

-127000

-426000

-137000

49000

175000

-27000

302000

356000

21000

-425000

-2000

10000

12000

643000

435000

197000

8000

-197000

-8000

500000

200000

2000

33000

31000

-533000

-229000

-87000

198000

493000

691000

60000

77000

-164000

120000

ELECSYS CORP 10-Q --04-30 3789012 false 0000914398 Yes No Smaller Reporting Company No 2012 Q1 2011-07-31

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> 5.           STOCK-BASED COMPENSATION </div> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"> At July 31, 2011, the Company had two equity-based compensation plans from which stock-based compensation awards are granted to eligible employees and consultants of the Company.  These stock-based compensation plans include the: (i) 1991 Stock Option Plan (the “1991 Plan”) and (ii) 2010 Equity Incentive Plan (the “2010 Plan”). </div> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"> According to the terms of the Company’s original 1991 stock option plan for which the Company originally reserved 675,000 shares of common stock, both incentive stock options and non-qualified stock options to purchase common stock of the Company may be granted to key employees, directors and consultants to the Company, at the discretion of the Board of Directors. Incentive stock options may not be granted at prices that are less than the fair market value on the date of grant.  Non-qualified options may be granted at prices determined appropriate by the Board of Directors of the Company, but have not been granted at less than market value on the date of grant.  Generally, these options become exercisable and vest over one to five years and expire within 10 years of the date of grant.  The 1991 Plan also provides for accelerated vesting if there is a change in control of the Company.  As of July 31, 2011, there were options remaining outstanding to acquire 279,250 share of common stock under the 1991 Plan. </div> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"> The 2010 Plan is an omnibus plan that allows for equity awards including stock options (including incentive stock options and non-qualified options), stock appreciation rights, restricted shares, restricted share units, performance shares, performance units, and other equity-based awards payable in cash or stock to officers, directors, key employees and other service providers.  Under the 2010 Plan, the Company has the ability to grant up to 380,000 shares of common stock.  The number of shares granted to eligible participants will be determined by the Board of Directors on an annual basis based on Company and individual performance and a Compensation Committee analysis.  The awards under the 2010 Plan will include vesting provisions that will require participants (other than non-employee directors) to remain at the Company for a defined period of time.  Options and stock appreciation rights will expire 10 years after the grant date.  The 2010 Plan also includes a change of control provision which allows for accelerated vesting if there is a change of control of the Company.  As of July 31, 2011, there were options outstanding to acquire 85,000 shares of common stock and 7,200 shares of restricted common stock awards granted under the 2010 Plan. </div> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"> The Company accounts for its stock-based compensation plan in accordance with ASC Topic 718, Compensation-Stock Compensation.  ASC Topic 718 requires the measurement and recognition of compensation expense for all stock-based payment awards based on estimated fair value.  It further requires companies to estimate the fair value of stock-based payment awards on the date of the grant using an option pricing model.  The value of the portion of the award that is ultimately expected to vest is recognized as expense over the requisite service periods. </div> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"> The fair value of each option award is estimated on the date of grant using the Black-Scholes option pricing model, which uses the following weighted-average assumptions for the three-month periods ended July 31, 2011 and 2010. </div> <table cellpadding="0" cellspacing="0" width="100%" style=""> <tr> <td valign="bottom" style="PADDING-BOTTOM: 0.5pt">   </td> <td valign="bottom" style="PADDING-BOTTOM: 0.5pt">   </td> <td colspan="2" nowrap="nowrap" valign="bottom" style="BORDER-BOTTOM: black 0.5pt solid"> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> Three Months Ended </div> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> July 31, 2011 </div> </td> <td nowrap="nowrap" valign="bottom" style="BORDER-BOTTOM: black 0.5pt solid; TEXT-ALIGN: left">   </td> <td valign="bottom" style="PADDING-BOTTOM: 0.5pt">   </td> <td colspan="2" nowrap="nowrap" valign="bottom" style="BORDER-BOTTOM: black 0.5pt solid"> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> Three Months Ended </div> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> July 31, 2010 </div> </td> <td nowrap="nowrap" valign="bottom" style="BORDER-BOTTOM: black 0.5pt solid; TEXT-ALIGN: left">   </td> </tr> <tr style="background-color: #CCEEFF;"> <td align="left" valign="bottom" width="80%"> <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> Risk-free interest rate </div> </td> <td valign="bottom" width="1%">   </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> 2.97 </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left"> % </td> <td valign="bottom" width="1%">   </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> 2.42 </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left"> % </td> </tr> <tr style="background-color: white;"> <td align="left" valign="bottom" width="80%"> <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> Expected life, in years </div> </td> <td valign="bottom" width="1%">   </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> 6 </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td valign="bottom" width="1%">   </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> 6 </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> </tr> <tr style="background-color: #CCEEFF;"> <td align="left" valign="bottom" width="80%"> <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> Expected volatility </div> </td> <td valign="bottom" width="1%">   </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> 73.43 – 73.61 </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left"> % </td> <td valign="bottom" width="1%">   </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> 61.27 </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left"> % </td> </tr> <tr style="background-color: white;"> <td align="left" valign="bottom" width="80%"> <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> Dividend yield </div> </td> <td valign="bottom" width="1%">   </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> 0.0 </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left"> % </td> <td valign="bottom" width="1%">   </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> 0.0 </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left"> % </td> </tr> <tr style="background-color: #CCEEFF;"> <td align="left" valign="bottom" width="80%"> <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> Forfeiture rate </div> </td> <td valign="bottom" width="1%">   </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> 9.60 </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left"> % </td> <td valign="bottom" width="1%">   </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> 9.60 </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left"> % </td> </tr> </table> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"> The Company uses historical data to estimate option exercises and employee terminations used in the model.  Expected volatility is based on monthly historical fluctuations of the Company’s common stock using the closing market value for the number of months of the expected term immediately preceding the grant.  The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of the grant for a bond with a similar term. </div> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"> The Company receives a tax deduction for certain stock option exercises and disqualifying stock dispositions generally for the excess of the price at which the options are sold over the exercise prices of the options.  In accordance with ASC Topic 718, the Company reports any tax benefit from the exercise of stock options as financing cash flows.  For the three-month periods ended July 31, 2011 and 2010, there were no exercises of stock options which triggered tax benefits. </div> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"> At July 31, 2011, there was approximately $318,000 of unrecognized compensation cost related to share-based payments that is expected to be recognized over a weighted-average period of 2.19 years. </div> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"> The following tables represent equity award activity for the three-month period ended July 31, 2011: </div> <table cellpadding="0" cellspacing="0" width="100%" style=""> <tr> <td align="left" valign="bottom" width="72%" style="BORDER-BOTTOM: black 0.5pt solid"> <div style="DISPLAY: block; TEXT-INDENT: 0pt">   </div> <div style="DISPLAY: block; TEXT-INDENT: 0pt">   </div> <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> Stock Options </div> </td> <td valign="bottom" width="1%" style="PADDING-BOTTOM: 0.5pt">   </td> <td colspan="2" nowrap="nowrap" valign="bottom" width="8%" style="BORDER-BOTTOM: black 0.5pt solid"> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> Number </div> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> of </div> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> Shares </div> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="BORDER-BOTTOM: black 0.5pt solid; TEXT-ALIGN: left">   </td> <td valign="bottom" width="1%" style="PADDING-BOTTOM: 0.5pt">   </td> <td colspan="2" nowrap="nowrap" valign="bottom" width="8%" style="BORDER-BOTTOM: black 0.5pt solid"> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> Weighted-Average </div> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> Exercise Price </div> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="BORDER-BOTTOM: black 0.5pt solid; TEXT-ALIGN: left">   </td> <td valign="bottom" width="1%" style="PADDING-BOTTOM: 0.5pt">   </td> <td valign="bottom" width="7%" style="BORDER-BOTTOM: black 0.5pt solid"> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> Weighted-Average </div> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> Remaining </div> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> Contract Life </div> </td> </tr> <tr style="background-color: #CCEEFF;"> <td align="left" valign="bottom" width="72%"> <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> Outstanding options at April 30, 2011 </div> </td> <td align="right" valign="bottom" width="1%">   </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> 279,250 </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td align="right" valign="bottom" width="1%">   </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> $ </td> <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> 2.48 </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td align="right" valign="bottom" width="1%">   </td> <td align="right" valign="bottom" width="7%"> <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"> 3.77 Years </div> </td> </tr> <tr style="background-color: white;"> <td align="left" valign="bottom" width="72%"> <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">    Granted </div> </td> <td align="right" valign="bottom" width="1%">   </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> 85,000 </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td align="right" valign="bottom" width="1%">   </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> $ </td> <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> 5.11 </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td valign="bottom" width="1%">   </td> <td valign="bottom" width="7%">   </td> </tr> <tr style="background-color: #CCEEFF;"> <td align="left" valign="bottom" width="72%"> <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">    Exercised </div> </td> <td align="right" valign="bottom" width="1%">   </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> -- </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td align="right" valign="bottom" width="1%">   </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> -- </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td valign="bottom" width="1%">   </td> <td valign="bottom" width="7%">   </td> </tr> <tr style="background-color: white;"> <td align="left" valign="bottom" width="72%" style="PADDING-BOTTOM: 0.5pt"> <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">    Forfeited </div> </td> <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 0.5pt">   </td> <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 0.5pt solid; TEXT-ALIGN: left">   </td> <td valign="bottom" width="7%" style="BORDER-BOTTOM: black 0.5pt solid; TEXT-ALIGN: right"> -- </td> <td nowrap="nowrap" valign="bottom" width="1%" style="BORDER-BOTTOM: black 0.5pt solid; TEXT-ALIGN: left">   </td> <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 0.5pt">   </td> <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 0.5pt solid; TEXT-ALIGN: left">   </td> <td valign="bottom" width="7%" style="BORDER-BOTTOM: black 0.5pt solid; TEXT-ALIGN: right"> -- </td> <td nowrap="nowrap" valign="bottom" width="1%" style="BORDER-BOTTOM: black 0.5pt solid; TEXT-ALIGN: left">   </td> <td valign="bottom" width="1%" style="PADDING-BOTTOM: 0.5pt">   </td> <td valign="bottom" width="7%" style="BORDER-BOTTOM: black 0.5pt solid">   </td> </tr> <tr style="background-color: #CCEEFF;"> <td align="left" valign="bottom" width="72%" style="PADDING-BOTTOM: 4px"> <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> Outstanding options at July 31, 2011 </div> </td> <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">   </td> <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: left">   </td> <td valign="bottom" width="7%" style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: right"> 364,250 </td> <td nowrap="nowrap" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: left">   </td> <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">   </td> <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: left"> $ </td> <td valign="bottom" width="7%" style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: right"> 3.10 </td> <td nowrap="nowrap" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: left">   </td> <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">   </td> <td align="right" valign="bottom" width="7%" style="BORDER-BOTTOM: black 2.25pt double"> <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"> 5.00 Years </div> </td> </tr> <tr style="background-color: white;"> <td valign="bottom" width="72%">   </td> <td valign="bottom" width="1%">   </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td valign="bottom" width="7%" style="TEXT-ALIGN: right">   </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td valign="bottom" width="1%">   </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td valign="bottom" width="7%" style="TEXT-ALIGN: right">   </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td valign="bottom" width="1%">   </td> <td valign="bottom" width="7%">   </td> </tr> <tr style="background-color: #CCEEFF;"> <td align="left" valign="bottom" width="72%" style="PADDING-BOTTOM: 4px"> <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> Outstanding exercisable at July 31, 2011 </div> </td> <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">   </td> <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: left">   </td> <td valign="bottom" width="7%" style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: right"> 240,167 </td> <td nowrap="nowrap" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: left">   </td> <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">   </td> <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: left"> $ </td> <td valign="bottom" width="7%" style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: right"> 2.22 </td> <td nowrap="nowrap" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: left">   </td> <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">   </td> <td align="right" valign="bottom" width="7%" style="BORDER-BOTTOM: black 2.25pt double"> <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"> 2.68 Years </div> </td> </tr> </table> <table cellpadding="0" cellspacing="0" width="100%" style=""> <tr> <td align="left" valign="bottom" width="72%" style="BORDER-BOTTOM: black 0.5pt solid"> <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> Restricted Stock </div> </td> <td valign="bottom" width="1%" style="PADDING-BOTTOM: 0.5pt">   </td> <td colspan="2" nowrap="nowrap" valign="bottom" width="8%" style="BORDER-BOTTOM: black 0.5pt solid"> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> Number </div> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> of </div> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> Shares </div> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="BORDER-BOTTOM: black 0.5pt solid; TEXT-ALIGN: left">   </td> <td valign="bottom" width="1%" style="PADDING-BOTTOM: 0.5pt">   </td> <td colspan="2" nowrap="nowrap" valign="bottom" width="8%" style="BORDER-BOTTOM: black 0.5pt solid"> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> Weighted-Average </div> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> Price </div> </td> <td nowrap="nowrap" valign="bottom" width="1%" style="BORDER-BOTTOM: black 0.5pt solid; TEXT-ALIGN: left">   </td> <td valign="bottom" width="1%" style="PADDING-BOTTOM: 0.5pt">   </td> <td valign="bottom" width="7%" style="BORDER-BOTTOM: black 0.5pt solid"> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> Weighted-Average </div> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> Remaining </div> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> Contract Life </div> </td> </tr> <tr style="background-color: #CCEEFF;"> <td align="left" valign="bottom" width="72%"> <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> Outstanding awards at April 30, 2011 </div> </td> <td align="right" valign="bottom" width="1%">   </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> -- </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td align="right" valign="bottom" width="1%">   </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> -- </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td valign="bottom" width="1%">   </td> <td valign="bottom" width="7%">   </td> </tr> <tr style="background-color: white;"> <td align="left" valign="bottom" width="72%"> <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">    Granted </div> </td> <td align="right" valign="bottom" width="1%">   </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> 7,200 </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td align="right" valign="bottom" width="1%">   </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left"> $ </td> <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> 5.01 </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td align="right" valign="bottom" width="1%">   </td> <td align="right" valign="bottom" width="7%"> <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"> 9.75 Years </div> </td> </tr> <tr style="background-color: #CCEEFF;"> <td align="left" valign="bottom" width="72%"> <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">    Exercised </div> </td> <td align="right" valign="bottom" width="1%">   </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> -- </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td align="right" valign="bottom" width="1%">   </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> -- </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td valign="bottom" width="1%">   </td> <td valign="bottom" width="7%">   </td> </tr> <tr style="background-color: white;"> <td align="left" valign="bottom" width="72%" style="PADDING-BOTTOM: 0.5pt"> <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">    Forfeited </div> </td> <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 0.5pt">   </td> <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 0.5pt solid; TEXT-ALIGN: left">   </td> <td valign="bottom" width="7%" style="BORDER-BOTTOM: black 0.5pt solid; TEXT-ALIGN: right"> -- </td> <td nowrap="nowrap" valign="bottom" width="1%" style="BORDER-BOTTOM: black 0.5pt solid; TEXT-ALIGN: left">   </td> <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 0.5pt">   </td> <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 0.5pt solid; TEXT-ALIGN: left">   </td> <td valign="bottom" width="7%" style="BORDER-BOTTOM: black 0.5pt solid; TEXT-ALIGN: right"> -- </td> <td nowrap="nowrap" valign="bottom" width="1%" style="BORDER-BOTTOM: black 0.5pt solid; TEXT-ALIGN: left">   </td> <td valign="bottom" width="1%" style="PADDING-BOTTOM: 0.5pt">   </td> <td valign="bottom" width="7%" style="BORDER-BOTTOM: black 0.5pt solid">   </td> </tr> <tr style="background-color: #CCEEFF;"> <td align="left" valign="bottom" width="72%" style="PADDING-BOTTOM: 4px"> <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> Outstanding awards at July 31, 2011 </div> </td> <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">   </td> <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: left">   </td> <td valign="bottom" width="7%" style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: right"> 7,200 </td> <td nowrap="nowrap" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: left">   </td> <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">   </td> <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: left"> $ </td> <td valign="bottom" width="7%" style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: right"> 5.01 </td> <td nowrap="nowrap" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: left">   </td> <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">   </td> <td align="right" valign="bottom" width="7%" style="BORDER-BOTTOM: black 2.25pt double"> <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"> 9.75Years </div> </td> </tr> <tr style="background-color: white;"> <td valign="bottom" width="72%">   </td> <td valign="bottom" width="1%">   </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td valign="bottom" width="7%" style="TEXT-ALIGN: right">   </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td valign="bottom" width="1%">   </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td valign="bottom" width="7%" style="TEXT-ALIGN: right">   </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td valign="bottom" width="1%">   </td> <td valign="bottom" width="7%">   </td> </tr> <tr style="background-color: #CCEEFF;"> <td align="left" valign="bottom" width="72%" style="PADDING-BOTTOM: 4px"> <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> Outstanding vested at July 31, 2011 </div> </td> <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">   </td> <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: left">   </td> <td valign="bottom" width="7%" style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: right"> -- </td> <td nowrap="nowrap" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: left">   </td> <td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">   </td> <td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: left"> $ </td> <td valign="bottom" width="7%" style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: right"> -- </td> <td nowrap="nowrap" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: left">   </td> <td valign="bottom" width="1%" style="PADDING-BOTTOM: 4px">   </td> <td valign="bottom" width="7%" style="PADDING-BOTTOM: 4px">   </td> </tr> </table> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"> Shares available for future equity awards to employees, officers, directors and consultants of the Company under the existing 1991 Plan and 2010 Plan were 16,750 and 287,800, respectively, at July 31, 2011.  At July 31, 2011 the aggregate intrinsic value of options and restricted stock outstanding was approximately $1,037,000, and the aggregate intrinsic value of options exercisable was approximately $890,000.  The Company recognized share-based compensation expense of $25,000 and $6,000 for the three-month periods ended July 31, 2011 and 2010, respectively.  The weighted-average fair value of the options and restricted stock granted in the three-month period ended July 31, 2011 was $3.39 per stock option and $3.32 per restricted share. </div> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"> The following table summarizes information about equity awards outstanding at July 31, 2011: </div> <table cellpadding="0" cellspacing="0" width="100%" style=""> <tr> <td valign="bottom" style="PADDING-BOTTOM: 2px">   </td> <td valign="bottom" style="PADDING-BOTTOM: 2px">   </td> <td colspan="10" nowrap="nowrap" valign="bottom" style="BORDER-BOTTOM: black 0.75pt solid"> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> Options Outstanding </div> </td> <td nowrap="nowrap" valign="bottom" style="BORDER-BOTTOM: black 0.75pt solid; TEXT-ALIGN: left">   </td> <td valign="bottom" style="PADDING-BOTTOM: 2px">   </td> <td colspan="6" nowrap="nowrap" valign="bottom" style="BORDER-BOTTOM: black 0.75pt solid"> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> Options Exercisable </div> </td> <td nowrap="nowrap" valign="bottom" style="BORDER-BOTTOM: black 0.75pt solid; TEXT-ALIGN: left">   </td> </tr> <tr> <td valign="bottom" style="BORDER-BOTTOM: black 0.75pt solid"> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> Range of Exercise Prices </div> </td> <td valign="bottom" style="PADDING-BOTTOM: 0.75pt">   </td> <td colspan="2" nowrap="nowrap" valign="bottom" style="BORDER-BOTTOM: black 0.75pt solid"> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> Number </div> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> Outstanding at </div> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> July 31, 2011 </div> </td> <td nowrap="nowrap" valign="bottom" style="BORDER-BOTTOM: black 0.75pt solid; TEXT-ALIGN: left">   </td> <td valign="bottom" style="PADDING-BOTTOM: 0.75pt">   </td> <td colspan="2" nowrap="nowrap" valign="bottom" style="BORDER-BOTTOM: black 0.75pt solid"> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> Weighted- </div> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> Average </div> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> Remaining </div> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> Contractual Life </div> </td> <td nowrap="nowrap" valign="bottom" style="BORDER-BOTTOM: black 0.75pt solid; TEXT-ALIGN: left">   </td> <td valign="bottom" style="PADDING-BOTTOM: 0.75pt">   </td> <td colspan="2" nowrap="nowrap" valign="bottom" style="BORDER-BOTTOM: black 0.75pt solid"> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> Weighted- </div> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> Average </div> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> Exercise Price </div> </td> <td nowrap="nowrap" valign="bottom" style="BORDER-BOTTOM: black 0.75pt solid; TEXT-ALIGN: left">   </td> <td valign="bottom" style="PADDING-BOTTOM: 0.75pt">   </td> <td colspan="2" nowrap="nowrap" valign="bottom" style="BORDER-BOTTOM: black 0.75pt solid"> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> Number </div> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> Exercisable at </div> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">  July 31, 2011 </div> </td> <td nowrap="nowrap" valign="bottom" style="BORDER-BOTTOM: black 0.75pt solid; TEXT-ALIGN: left">   </td> <td valign="bottom" style="PADDING-BOTTOM: 0.75pt">   </td> <td colspan="2" nowrap="nowrap" valign="bottom" style="BORDER-BOTTOM: black 0.75pt solid"> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> Weighted- </div> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> Average </div> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"> Exercise Price </div> </td> <td nowrap="nowrap" valign="bottom" style="BORDER-BOTTOM: black 0.75pt solid; TEXT-ALIGN: left">   </td> </tr> <tr style="background-color: #CCEEFF;"> <td align="left" valign="bottom"> <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> $0.01 - $1.00 </div> </td> <td align="right" valign="bottom">   </td> <td valign="bottom" style="TEXT-ALIGN: left">   </td> <td valign="bottom" style="TEXT-ALIGN: right"> 95,000 </td> <td nowrap="nowrap" valign="bottom" style="TEXT-ALIGN: left">   </td> <td align="left" valign="bottom">   </td> <td align="left" colspan="2" nowrap="nowrap" valign="bottom"> <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> 0.73 years </div> </td> <td nowrap="nowrap" valign="bottom" style="TEXT-ALIGN: left">   </td> <td align="left" valign="bottom">   </td> <td valign="bottom" style="TEXT-ALIGN: left"> $ </td> <td valign="bottom" style="TEXT-ALIGN: right"> 0.81 </td> <td nowrap="nowrap" valign="bottom" style="TEXT-ALIGN: left">   </td> <td align="right" valign="bottom">   </td> <td valign="bottom" style="TEXT-ALIGN: left">   </td> <td valign="bottom" style="TEXT-ALIGN: right"> 95,000 </td> <td nowrap="nowrap" valign="bottom" style="TEXT-ALIGN: left">   </td> <td align="left" valign="bottom">   </td> <td valign="bottom" style="TEXT-ALIGN: left"> $ </td> <td valign="bottom" style="TEXT-ALIGN: right"> 0.81 </td> <td nowrap="nowrap" valign="bottom" style="TEXT-ALIGN: left">   </td> </tr> <tr style="background-color: white;"> <td align="left" valign="bottom"> <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> $1.01 - $2.00 </div> </td> <td align="right" valign="bottom">   </td> <td valign="bottom" style="TEXT-ALIGN: left">   </td> <td valign="bottom" style="TEXT-ALIGN: right"> 47,500 </td> <td nowrap="nowrap" valign="bottom" style="TEXT-ALIGN: left">   </td> <td align="left" valign="bottom">   </td> <td align="left" colspan="2" nowrap="nowrap" valign="bottom"> <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> 1.34 years </div> </td> <td nowrap="nowrap" valign="bottom" style="TEXT-ALIGN: left">   </td> <td align="left" valign="bottom">   </td> <td valign="bottom" style="TEXT-ALIGN: left"> $ </td> <td valign="bottom" style="TEXT-ALIGN: right"> 1.25 </td> <td nowrap="nowrap" valign="bottom" style="TEXT-ALIGN: left">   </td> <td align="right" valign="bottom">   </td> <td valign="bottom" style="TEXT-ALIGN: left">   </td> <td valign="bottom" style="TEXT-ALIGN: right"> 47,500 </td> <td nowrap="nowrap" valign="bottom" style="TEXT-ALIGN: left">   </td> <td align="left" valign="bottom">   </td> <td valign="bottom" style="TEXT-ALIGN: left"> $ </td> <td valign="bottom" style="TEXT-ALIGN: right"> 1.25 </td> <td nowrap="nowrap" valign="bottom" style="TEXT-ALIGN: left">   </td> </tr> <tr style="background-color: #CCEEFF;"> <td align="left" valign="bottom" width="50%"> <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> $2.01 - $3.00 </div> </td> <td align="right" valign="bottom" width="1%">   </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> -- </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td valign="bottom" width="1%">   </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> -- </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td valign="bottom" width="1%">   </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> -- </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td align="right" valign="bottom" width="1%">   </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> -- </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td valign="bottom" width="1%">   </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> -- </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> </tr> <tr style="background-color: white;"> <td align="left" valign="bottom"> <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> $3.01 - $4.00 </div> </td> <td align="right" valign="bottom">   </td> <td valign="bottom" style="TEXT-ALIGN: left">   </td> <td valign="bottom" style="TEXT-ALIGN: right"> 121,000 </td> <td nowrap="nowrap" valign="bottom" style="TEXT-ALIGN: left">   </td> <td align="left" valign="bottom">   </td> <td align="left" colspan="2" nowrap="nowrap" valign="bottom"> <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> 6.12 years </div> </td> <td nowrap="nowrap" valign="bottom" style="TEXT-ALIGN: left">   </td> <td align="left" valign="bottom">   </td> <td valign="bottom" style="TEXT-ALIGN: left"> $ </td> <td valign="bottom" style="TEXT-ALIGN: right"> 3.73 </td> <td nowrap="nowrap" valign="bottom" style="TEXT-ALIGN: left">   </td> <td align="right" valign="bottom">   </td> <td valign="bottom" style="TEXT-ALIGN: left">   </td> <td valign="bottom" style="TEXT-ALIGN: right"> 85,500 </td> <td nowrap="nowrap" valign="bottom" style="TEXT-ALIGN: left">   </td> <td align="left" valign="bottom">   </td> <td valign="bottom" style="TEXT-ALIGN: left"> $ </td> <td valign="bottom" style="TEXT-ALIGN: right"> 3.69 </td> <td nowrap="nowrap" valign="bottom" style="TEXT-ALIGN: left">   </td> </tr> <tr style="background-color: #CCEEFF;"> <td align="left" valign="bottom" width="50%"> <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> $4.01 - $5.00 </div> </td> <td align="right" valign="bottom" width="1%">   </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> -- </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td valign="bottom" width="1%">   </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> -- </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td valign="bottom" width="1%">   </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> -- </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td align="right" valign="bottom" width="1%">   </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> -- </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td valign="bottom" width="1%">   </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> -- </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> </tr> <tr style="background-color: white;"> <td align="left" valign="bottom"> <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> $5.01 - $6.00 </div> </td> <td align="right" valign="bottom">   </td> <td valign="bottom" style="TEXT-ALIGN: left">   </td> <td valign="bottom" style="TEXT-ALIGN: right"> 97,200 </td> <td nowrap="nowrap" valign="bottom" style="TEXT-ALIGN: left">   </td> <td align="left" valign="bottom">   </td> <td align="left" colspan="2" nowrap="nowrap" valign="bottom"> <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> 8.93 years </div> </td> <td nowrap="nowrap" valign="bottom" style="TEXT-ALIGN: left">   </td> <td align="left" valign="bottom">   </td> <td valign="bottom" style="TEXT-ALIGN: left"> $ </td> <td valign="bottom" style="TEXT-ALIGN: right"> 5.14 </td> <td nowrap="nowrap" valign="bottom" style="TEXT-ALIGN: left">   </td> <td align="right" valign="bottom">   </td> <td valign="bottom" style="TEXT-ALIGN: left">   </td> <td valign="bottom" style="TEXT-ALIGN: right"> 5,000 </td> <td nowrap="nowrap" valign="bottom" style="TEXT-ALIGN: left">   </td> <td align="left" valign="bottom">   </td> <td valign="bottom" style="TEXT-ALIGN: left"> $ </td> <td valign="bottom" style="TEXT-ALIGN: right"> 5.90 </td> <td nowrap="nowrap" valign="bottom" style="TEXT-ALIGN: left">   </td> </tr> <tr style="background-color: #CCEEFF;"> <td align="left" valign="bottom" width="50%"> <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> $6.01 - $7.00 </div> </td> <td align="right" valign="bottom" width="1%">   </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> -- </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td valign="bottom" width="1%">   </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> -- </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td valign="bottom" width="1%">   </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> -- </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td align="right" valign="bottom" width="1%">   </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> -- </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td valign="bottom" width="1%">   </td> <td valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> <td valign="bottom" width="7%" style="TEXT-ALIGN: right"> -- </td> <td nowrap="nowrap" valign="bottom" width="1%" style="TEXT-ALIGN: left">   </td> </tr> <tr style="background-color: white;"> <td align="left" valign="bottom" style="PADDING-BOTTOM: 0.5pt"> <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> $7.01 - $8.00 </div> </td> <td align="right" valign="bottom" style="PADDING-BOTTOM: 0.5pt">   </td> <td valign="bottom" style="BORDER-BOTTOM: black 0.5pt solid; TEXT-ALIGN: left">   </td> <td valign="bottom" style="BORDER-BOTTOM: black 0.5pt solid; TEXT-ALIGN: right"> 10,750 </td> <td nowrap="nowrap" valign="bottom" style="BORDER-BOTTOM: black 0.5pt solid; TEXT-ALIGN: left">   </td> <td align="left" valign="bottom" style="PADDING-BOTTOM: 0.5pt">   </td> <td align="left" colspan="2" nowrap="nowrap" valign="bottom" style="PADDING-BOTTOM: 0.5pt"> <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> 7.12 years </div> </td> <td nowrap="nowrap" valign="bottom" style="TEXT-ALIGN: left">   </td> <td align="left" valign="bottom" style="PADDING-BOTTOM: 0.5pt">   </td> <td valign="bottom" style="TEXT-ALIGN: left"> $ </td> <td valign="bottom" style="PADDING-BOTTOM: 0.5pt; TEXT-ALIGN: right"> 7.05 </td> <td nowrap="nowrap" valign="bottom" style="TEXT-ALIGN: left">   </td> <td align="right" valign="bottom" style="PADDING-BOTTOM: 0.5pt">   </td> <td valign="bottom" style="BORDER-BOTTOM: black 0.5pt solid; TEXT-ALIGN: left">   </td> <td valign="bottom" style="BORDER-BOTTOM: black 0.5pt solid; TEXT-ALIGN: right"> 7,167 </td> <td nowrap="nowrap" valign="bottom" style="BORDER-BOTTOM: black 0.5pt solid; TEXT-ALIGN: left">   </td> <td align="left" valign="bottom" style="PADDING-BOTTOM: 0.5pt">   </td> <td valign="bottom" style="TEXT-ALIGN: left"> $ </td> <td valign="bottom" style="PADDING-BOTTOM: 0.5pt; TEXT-ALIGN: right"> 7.05 </td> <td nowrap="nowrap" valign="bottom" style="TEXT-ALIGN: left">   </td> </tr> <tr style="background-color: #CCEEFF;"> <td align="left" valign="bottom" style="PADDING-BOTTOM: 4px"> <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> Total </div> </td> <td align="right" valign="bottom" style="PADDING-BOTTOM: 4px">   </td> <td valign="bottom" style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: left">   </td> <td valign="bottom" style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: right"> 371,450 </td> <td nowrap="nowrap" valign="bottom" style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: left">   </td> <td align="left" valign="bottom" style="PADDING-BOTTOM: 4px">   </td> <td align="left" colspan="2" nowrap="nowrap" valign="bottom" style="PADDING-BOTTOM: 4px"> <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"> 4.90 years </div> </td> <td nowrap="nowrap" valign="bottom" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left">   </td> <td align="left" valign="bottom" style="PADDING-BOTTOM: 4px">   </td> <td valign="bottom" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"> $ </td> <td valign="bottom" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: right"> 3.13 </td> <td nowrap="nowrap" valign="bottom" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left">   </td> <td align="right" valign="bottom" style="PADDING-BOTTOM: 4px">   </td> <td valign="bottom" style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: left">   </td> <td valign="bottom" style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: right"> 240,167 </td> <td nowrap="nowrap" valign="bottom" style="BORDER-BOTTOM: black 2.25pt double; TEXT-ALIGN: left">   </td> <td align="left" valign="bottom" style="PADDING-BOTTOM: 4px">   </td> <td valign="bottom" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left"> $ </td> <td valign="bottom" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: right"> 2.22 </td> <td nowrap="nowrap" valign="bottom" style="PADDING-BOTTOM: 4px; TEXT-ALIGN: left">   </td> </tr> </table>

EX-101.SCH 7 esys-20110731.xsd XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 001 - Statement - Condensed Consolidated Statements of Operations (Unaudited) link:presentationLink link:definitionLink link:calculationLink 002 - Statement - Condensed Consolidated Balance Sheets (July 31, 2011 Unaudited) link:presentationLink link:definitionLink link:calculationLink 003 - Statement - Condensed Consolidated Balance Sheets (July 31, 2011 Unaudited) (Parentheticals) link:presentationLink link:definitionLink link:calculationLink 004 - Statement - Condensed Consolidated Statements of Stockholders' Equity (July 31, 2011 unaudited) link:presentationLink link:definitionLink link:calculationLink 005 - Statement - Condensed Consolidated Statements of Cash Flows (Unaudited) link:presentationLink link:definitionLink link:calculationLink 006 - Disclosure - Note 1 - Nature of Operations and Summary of Significant Accounting Policies link:presentationLink link:definitionLink link:calculationLink 007 - Disclosure - Note 2 - Basis of Presentation link:presentationLink link:definitionLink link:calculationLink 008 - Disclosure - Note 3 - Intangible Assets and Goodwill link:presentationLink link:definitionLink link:calculationLink 009 - Disclosure - Note 4 - Inventory link:presentationLink link:definitionLink link:calculationLink 010 - Disclosure - Note 5 - Stock-Based Compensation link:presentationLink link:definitionLink link:calculationLink 011 - Disclosure - Note 6 - Net Income (Loss) Per Share link:presentationLink link:definitionLink link:calculationLink 012 - Disclosure - Note 7 - Pledged Assets, Notes Payable and Long-Term Debt link:presentationLink link:definitionLink link:calculationLink 013 - Disclosure - Note 8 - Segment Reporting link:presentationLink link:definitionLink link:calculationLink 014 - Disclosure - Note 9 - Warranty link:presentationLink link:definitionLink link:calculationLink 000 - Disclosure - Document And Entity Information link:presentationLink link:definitionLink link:calculationLink EX-101.CAL 8 esys-20110731_cal.xml XBRL TAXONOMY EXTENSION CALCULATION LINKBASE DOCUMENT EX-101.DEF 9 esys-20110731_def.xml XBRL TAXONOMY EXTENSION DEFINITION LINKBASE DOCUMENT EX-101.LAB 10 esys-20110731_lab.xml XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT Condensed Consolidated Statements of Operations (Unaudited) Condensed Consolidated Statements of Operations (Unaudited) [Abstract] Sales Cost of products sold Gross margin Selling, general and administrative expenses: Selling, general and administrative expenses: [Abstract] Research and development expense Selling and marketing expense General and administrative expense Total selling, general and administrative expenses Operating income Financial expense: Financial expense: [Abstract] Interest expense Other expense, net Total financial expense Net income before income tax expense Income tax expense Net income Net income per share information: Net income per share information: [Abstract] Basic (in Dollars per share) Diluted (in Dollars per share) Weighted average common shares outstanding: Weighted average common shares outstanding: [Abstract] Basic (in Shares) Diluted (in Shares) Condensed Consolidated Balance Sheets (July 31, 2011 Unaudited) Condensed Consolidated Balance Sheets (July 31, 2011 Unaudited) [Abstract] ASSETS ASSETS [Abstract] Current assets: Current assets: [Abstract] Cash and cash equivalents Accounts receivable, less allowances of $147 and $144, respectively Inventories, net Prepaid expenses Deferred taxes Total current assets Property and equipment: Property and equipment: [Abstract] Land Building and improvements Equipment Total property and equipment, gross Accumulated depreciation Total property and equipment, net Goodwill Intangible assets, net Other assets, net Total assets LIABILITIES AND STOCKHOLDERS' EQUITY LIABILITIES AND STOCKHOLDERS' EQUITY [Abstract] Current liabilities: Current liabilities: [Abstract] Accounts payable Accrued expenses Income taxes payable Current maturities of long-term debt Total current liabilities Deferred taxes Long-term debt, less current maturities Stockholders' equity: Stockholders' equity: [Abstract] Preferred stock, $.01 par value, 5,000,000 shares authorized; issued and outstanding – none Common stock, $.01 par value, 10,000,000 shares authorized; issued and outstanding – 3,789,012 at July 31, 2011 and April 30, 2011 Additional paid-in capital Retained earnings (accumulated deficit) Total stockholders' equity Total liabilities and stockholders' equity Accounts receivable, allowance (in Dollars) Preferred stock, par value (in Dollars per share) Preferred stock, shares authorized Preferred stock, shares issued Preferred stock, shares outstanding Common stock, par value (in Dollars per share) Common stock, shares authorized Common stock, shares issued Common stock, shares outstanding Condensed Consolidated Statements of Stockholders' Equity (July 31, 2011 unaudited) Condensed Consolidated Statements of Stockholders' Equity (July 31, 2011 unaudited) [Abstract] Balance Balance Balance (in Shares) Balance (in Shares) Net income Exercise of stock options Exercise of stock options (in Shares) Share-based compensation expense Condensed Consolidated Statements of Cash Flows (Unaudited) Condensed Consolidated Statements of Cash Flows (Unaudited) [Abstract] Cash Flows from Operating Activities: Cash Flows from Operating Activities: [Abstract] Adjustments to reconcile net income to net cash provided by operating activities: Adjustments to reconcile net income to net cash provided by operating activities: [Abstract] Share-based compensation expense Depreciation Amortization Provision for doubtful accounts Loss on disposal of equipment Deferred income taxes Changes in operating assets and liabilities: Changes in operating assets and liabilities: [Abstract] Accounts receivable Inventories Income tax payable Accounts payable Accrued expenses Other Net cash provided by operating activities Cash Flows from Investing Activities: Cash Flows from Investing Activities: [Abstract] Purchases of property and equipment Net cash (used in) investing activities Cash Flows from Financing Activities: Cash Flows from Financing Activities: [Abstract] Principal payments on note payable to bank Proceeds from exercise of stock options Principal payments on long-term debt Net cash (used in) financing activities Net (decrease) increase in cash and cash equivalents Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period Supplemental Disclosure of Cash Flow Information: Supplemental Disclosure of Cash Flow Information: [Abstract] Cash paid during the period for interest Cash (paid) received during the period for income taxes Note 1 - Nature of Operations and Summary of Significant Accounting Policies Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] Note 2 - Basis of Presentation Basis of Accounting [Text Block] Note 3 - Intangible Assets and Goodwill Goodwill and Intangible Assets Disclosure [Text Block] Note 4 - Inventory Inventory Disclosure [Text Block] Note 5 - Stock-Based Compensation Disclosure of Compensation Related Costs, Share-based Payments [Text Block] Note 6 - Net Income (Loss) Per Share Earnings Per Share [Text Block] Note 7 - Pledged Assets, Notes Payable and Long-Term Debt Debt Disclosure [Text Block] Note 8 - Segment Reporting Segment Reporting Disclosure [Text Block] Note 9 - Warranty Product Warranty Disclosure [Text Block] Common Stock [Member] Scenario, Unspecified [Domain] Statement, Scenario [Axis] Additional Paid-in Capital [Member] Statement, Equity Components [Axis] Retained Earnings [Member] Acquisition OfSensor CastLLC [Member] Acquisition Of SensorCast LLC [Member] Acquisition OfMBBSSA [Member] Acquisition Of MBBS S.A. [Member] Document and Entity Information [Abstract] Assets, Current Entity Common Stock, Shares Outstanding Cash and Cash Equivalents, Period Increase (Decrease) Weighted Average Number of Shares Outstanding, Diluted Payments to Acquire Property, Plant, and Equipment Increase (Decrease) in Accounts Receivable Entity Central Index Key Weighted Average Number of Shares Outstanding, Basic Liabilities, Current Net Cash Provided by (Used in) Investing Activities Deferred Tax Liabilities, Noncurrent Net Cash Provided by (Used in) Operating Activities Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period Document Period End Date Property, Plant and Equipment, Net Repayments of Notes Payable Increase (Decrease) in Accounts Payable Repayments of Long-term Debt Share-based Compensation Amendment Flag Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment Net Cash Provided by (Used in) Financing Activities Document Type Selling, General and Administrative Expense Assets Amendment Description Increase (Decrease) in Other Operating Assets and Liabilities, Net Nonoperating Income (Expense) Shares, Issued Gain (Loss) on Disposition of Assets Document Fiscal Period Focus Current Fiscal Year End Date Liabilities and Equity Operating Income (Loss) Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest Gross Profit Entity Voluntary Filers Interest Expense Entity Public Float Property, Plant and Equipment, Gross Entity Filer Category Document Fiscal Year Focus Stockholders' Equity Attributable to Parent Entity Well-known Seasoned Issuer Increase (Decrease) in Accrued Liabilities Entity Registrant Name Increase (Decrease) in Inventories Entity Current Reporting Status Statement [Table] Statement [Line Items] EX-101.PRE 11 esys-20110731_pre.xml XBRL EXTENSION PRESENTATION LINKBASE DOCUMENT XML 12 R3.htm IDEA: XBRL DOCUMENT

Condensed Consolidated Balance Sheets (July 31, 2011 Unaudited) (USD $) In Thousands	Jul. 31, 2011	Apr. 30, 2011
Current assets:
Cash and cash equivalents	$ 373	$ 460
Accounts receivable, less allowances of $147 and $144, respectively	2,372	2,801
Inventories, net	5,929	5,880
Prepaid expenses	80	69
Deferred taxes	687	662
Total current assets	9,441	9,872
Property and equipment:
Land	1,737	1,737
Building and improvements	3,395	3,395
Equipment	3,486	3,333
Total property and equipment, gross	8,618	8,465
Accumulated depreciation	(3,123)	(3,072)
Total property and equipment, net	5,495	5,393
Goodwill	1,942	1,942
Intangible assets, net	2,045	2,100
Other assets, net	59	60
Total assets	18,982	19,367
Current liabilities:
Accounts payable	1,604	1,248
Accrued expenses	1,276	1,701
Income taxes payable	24	51
Current maturities of long-term debt	136	134
Total current liabilities	3,040	3,134
Deferred taxes	402	396
Long-term debt, less current maturities	4,425	4,960
Stockholders' equity:
Preferred stock, $.01 par value, 5,000,000 shares authorized; issued and outstanding – none
Common stock, $.01 par value, 10,000,000 shares authorized; issued and outstanding – 3,789,012 at July 31, 2011 and April 30, 2011	38	38
Additional paid-in capital	11,024	10,999
Retained earnings (accumulated deficit)	53	(160)
Total stockholders' equity	11,115	10,877
Total liabilities and stockholders' equity	$ 18,982	$ 19,367

XML 13 R4.htm IDEA: XBRL DOCUMENT

Condensed Consolidated Balance Sheets (July 31, 2011 Unaudited) (Parentheticals) (USD $) In Thousands, except Share data	Jul. 31, 2011	Apr. 30, 2011
Accounts receivable, allowance (in Dollars)	$ 147	$ 144
Preferred stock, par value (in Dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in Dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	10,000,000	10,000,000
Common stock, shares issued	3,789,012	3,789,012
Common stock, shares outstanding	3,789,012	3,789,012

- Definition

Total number of shares of common stock held by shareholders. May be all or portion of the number of common shares authorized. These shares represent the ownership interest of the common shareholders. Shares outstanding equals shares issued minus shares held in treasury and other adjustments, if any.

+ References+ Details

- Definition

Face amount or stated value per share of nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer); generally not indicative of the fair market value per share.

+ References+ Details

XML 14 R1.htm IDEA: XBRL DOCUMENT

Document And Entity Information	3 Months Ended
Document And Entity Information	Jul. 31, 2011	Sep. 01, 2011
Document and Entity Information [Abstract]
Entity Registrant Name	ELECSYS CORP
Document Type	10-Q
Current Fiscal Year End Date	--04-30
Entity Common Stock, Shares Outstanding		3,789,012
Amendment Flag	false
Entity Central Index Key	0000914398
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Smaller Reporting Company
Entity Well-known Seasoned Issuer	No
Document Period End Date	Jul. 31, 2011
Document Fiscal Year Focus	2012
Document Fiscal Period Focus	Q1

XML 15 Show.js IDEA: XBRL DOCUMENT /** * Rivet Software Inc. * * @copyright Copyright (c) 2006-2011 Rivet Software, Inc. All rights reserved. * Version 2.1.0.1 * */ var moreDialog = null; var Show = { Default:'raw', more:function( obj ){ var bClosed = false; if( moreDialog != null ) { try { bClosed = moreDialog.closed; } catch(e) { //Per article at http://support.microsoft.com/kb/244375 there is a problem with the WebBrowser control // that somtimes causes it to throw when checking the closed property on a child window that has been //closed. So if the exception occurs we assume the window is closed and move on from there. bClosed = true; } if( !bClosed ){ moreDialog.close(); } } obj = obj.parentNode.getElementsByTagName( 'pre' )[0]; var hasHtmlTag = false; var objHtml = ''; var raw = ''; //Check for raw HTML var nodes = obj.getElementsByTagName( '*' ); if( nodes.length ){ objHtml = obj.innerHTML; }else{ if( obj.innerText ){ raw = obj.innerText; }else{ raw = obj.textContent; } var matches = raw.match( /<\/?[a-zA-Z]{1}\w*[^>]*>/g ); if( matches && matches.length ){ objHtml = raw; //If there is an html node it will be 1st or 2nd, // but we can check a little further. var n = Math.min( 5, matches.length ); for( var i = 0; i < n; i++ ){ var el = matches[ i ].toString().toLowerCase(); if( el.indexOf( '= 0 ){ hasHtmlTag = true; break; } } } } if( objHtml.length ){ var html = ''; if( hasHtmlTag ){ html = objHtml; }else{ html = ''+ "\n"+''+ "\n"+' Report Preview Details'+ "\n"+' '+ "\n"+''+ "\n"+''+ objHtml + "\n"+''+ "\n"+''; } moreDialog = window.open("","More","width=700,height=650,status=0,resizable=yes,menubar=no,toolbar=no,scrollbars=yes"); moreDialog.document.write( html ); moreDialog.document.close(); if( !hasHtmlTag ){ moreDialog.document.body.style.margin = '0.5em'; } } else { //default view logic var lines = raw.split( "\n" ); var longest = 0; if( lines.length > 0 ){ for( var p = 0; p < lines.length; p++ ){ longest = Math.max( longest, lines[p].length ); } } //Decide on the default view this.Default = longest < 120 ? 'raw' : 'formatted'; //Build formatted view var text = raw.split( "\n\n" ) >= raw.split( "\r\n\r\n" ) ? raw.split( "\n\n" ) : raw.split( "\r\n\r\n" ) ; var formatted = ''; if( text.length > 0 ){ if( text.length == 1 ){ text = raw.split( "\n" ) >= raw.split( "\r\n" ) ? raw.split( "\n" ) : raw.split( "\r\n" ) ; formatted = "

"+ text.join( "

\n" ) +"

"; }else{ for( var p = 0; p < text.length; p++ ){ formatted += "

" + text[p] + "

\n"; } } }else{ formatted = '

' + raw + '

'; } html = ''+ "\n"+''+ "\n"+' Report Preview Details'+ "\n"+' '+ "\n"+''+ "\n"+''+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+'

'+ "\n"+' formatted: '+ ( this.Default == 'raw' ? 'as Filed' : 'with Text Wrapped' ) +''+ "\n"+'

'+ "\n"+' '+ "\n"+'

'+ "\n"+'

'+raw+'

'+ "\n"+'

'+ "\n"+''+ "\n"+''; moreDialog = window.open("","More","width=700,height=650,status=0,resizable=yes,menubar=no,toolbar=no,scrollbars=yes"); moreDialog.document.write(html); moreDialog.document.close(); this.toggle( moreDialog ); } moreDialog.document.title = 'Report Preview Details'; }, toggle:function( win, domLink ){ var domId = this.Default; var doc = win.document; var domEl = doc.getElementById( domId ); domEl.style.display = 'block'; this.Default = domId == 'raw' ? 'formatted' : 'raw'; if( domLink ){ domLink.innerHTML = this.Default == 'raw' ? 'with Text Wrapped' : 'as Filed'; } var domElOpposite = doc.getElementById( this.Default ); domElOpposite.style.display = 'none'; }, LastAR : null, showAR : function ( link, id, win ){ if( Show.LastAR ){ Show.hideAR(); } var ref = link; do { ref = ref.nextSibling; } while (ref && ref.nodeName != 'TABLE'); if (!ref || ref.nodeName != 'TABLE') { var tmp = win ? win.document.getElementById(id) : document.getElementById(id); if( tmp ){ ref = tmp.cloneNode(true); ref.id = ''; link.parentNode.appendChild(ref); } } if( ref ){ ref.style.display = 'block'; Show.LastAR = ref; } }, toggleNext : function( link ){ var ref = link; do{ ref = ref.nextSibling; }while( ref.nodeName != 'DIV' ); if( ref.style && ref.style.display && ref.style.display == 'none' ){ ref.style.display = 'block'; if( link.textContent ){ link.textContent = link.textContent.replace( '+', '-' ); }else{ link.innerText = link.innerText.replace( '+', '-' ); } }else{ ref.style.display = 'none'; if( link.textContent ){ link.textContent = link.textContent.replace( '-', '+' ); }else{ link.innerText = link.innerText.replace( '-', '+' ); } } }, hideAR : function(){ Show.LastAR.style.display = 'none'; } } XML 16 R12.htm IDEA: XBRL DOCUMENT

Note 6 - Net Income (Loss) Per Share

3 Months Ended

Jul. 31, 2011

Earnings Per Share [Text Block]

6. NET INCOME (LOSS) PER SHARE

The following table presents the calculation of basic and diluted income (loss) per share (in thousands):

	Three Months Ended July 31,
	2011		2010
Numerator:
Net income	$	213	$	107

Denominator:
Weighted average common shares outstanding – basic		3,789		3,788
Effect of dilutive options outstanding		141		106
Weighted average common shares outstanding – diluted		3,930		3,894

- Definition

The entire disclosure for earnings per share.

+ References+ Details

XML 17 R8.htm IDEA: XBRL DOCUMENT

Note 2 - Basis of Presentation

3 Months Ended

Jul. 31, 2011

Basis of Accounting [Text Block]

2. BASIS OF PRESENTATION

For further information, refer to the consolidated financial statements and footnotes included in the Company’ annual report on Form 10-K for the year ended April 30, 2011.

XML 18 R14.htm IDEA: XBRL DOCUMENT

Note 8 - Segment Reporting

3 Months Ended

Jul. 31, 2011

Segment Reporting Disclosure [Text Block]

8. SEGMENT REPORTING

	Three Months Ended July 31, 2011
	EDMS		Proprietary		Total

Total sales	$	3,310	$	2,363	$	5,673

Segment gross margin	$	781	$	1,223	$	2,004

Goodwill	$	--	$	1,942	$	1,942

	Three Months Ended July 31, 2010
	EDMS		Proprietary		Total

Total sales	$	3,043	$	2,138	$	5,182

Segment gross margin	$	615	$	1,130	$	1,745

Goodwill	$	--	$	1,942	$	1,942

The following table reconciles total revenues to the products and services offered by the Company (in thousands).

	Three Months Ended July 31,
	2011		2010
Products and services:
Electronic interface assemblies	$	3,174	$	2,939
Remote monitoring solutions		1,733		1,338
Rugged mobile computing		543		728
Engineering services		85		65
Other		138		112
Total sales	$	5,673	$	5,182

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 33
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 29
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 35
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 131
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599

+ Details

XML 19 R15.htm IDEA: XBRL DOCUMENT

Note 9 - Warranty

3 Months Ended

Jul. 31, 2011

Product Warranty Disclosure [Text Block]

9. WARRANTY

The following table presents changes in the Company’s warranty liability, which is included in accrued expenses on the balance sheets (in thousands):

	Three Months Ended July 31,
	2011			2010
Warranty reserve balance at beginning of period	$	165		$	221
Expense accrued		50			3
Warranty costs incurred		(39	)		(40	)
Warranty reserve balance at end of period	$	176		$	184

ZIP 20 0001171843-11-002693-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001171843-11-002693-xbrl.zip M4$L#!!0````(`!U()C^=4P!GY&0``,DX!P`1`!P`97-Y"8>_X?["=5>G1T=/3T_O3'A4F)03P=;<)$)>0(W&`,E___D?[R61 M$2>2Q"FZY!1-R`HU6\CHG[;[IYT.^CP=H5;3,+R7X(WG!VZCYZ7MB`\'(4+R M\CO&YT>M9K-]1!WA8LS(CLT,RP> MU,/!G2.)O]$T&FTC>,FFSN][X,C;#UCLX-A['O[M"IX.H9ECO$H$(V\D8*&" M=5K&R3[N>$\$+Q"QV?66V,2$OTW&5U*VJOWFR:YUBVAL%,1\-V>/1W`C`S#@>QN(^C6NV=A'1P-O(9,!@;P[")J?3@PF_^\ MY&QI7..-?';*VL;?U[;\U2,M7X!7B.-2=S/87H!+U)(79Q1,1X$BD6X%[!J- M?SX8-.%?W^BT^[WW1[O7PNT?[0@$EU:$4V9%2`)/N'L.1C?P)'`,0GA_M+N* M4/AIXEBA9T]`6I*,=VU+=T?%X\V1SYR`;I191IA9S1VSFE\[LYH%F-6LB5FM M?P[%[>QKUB?/RMR(A@372G:Z[76Z.5SQ;Z+3G4:[6;G3G4BGF_^$0+MDSL1E MYN_79/E`^,'@M9@@%9_,EV37&77-BWVGY'EE4Y.Z'BID47A04.9\./#CS.G$ M!8V7KU_\L0:<,F5@#OPIAL]4'`R"QV(]?'^42&('`DPOP%5:7LV:Y'6LR6MH M6=0%-F#[#E-K[(SPBKK8WLGN3R:]O?U-E23Z*F79U61Y3UQ,'6)=8.Y09R[^ MI`:8W,UOR@I/HI+[ND-%79WNZ1E4$"F_*^[+*&[I-'";'%1,`_MI$O\*%?[- MF64T4^TC,:GZ<]G&*V95;R_I6"VYE72.=.S/)?7@M:T7KQNY6_5-96 M5ZUK:!7^=VM]B^JI-FEV-&FF9Z%_+B&^8?U4F^R.TX:NOTOQ-;*F-QF`[Z;* M_+L??I.LZ4VTX"0ZM?`]:WI!7UW+M(C1TR3VW5K?)FNJ1YI]39K?X^TW8XFM M9D1VS5>UM5+CSO5TVU#=-B9D]96./49EW5KP65MC^E@2+-2<# M?TW,Z>?)^?NCX"+:M2??#_T=;NZ.\,D"<[DFQ6_4HH_0XT@OY`LWZZ5'EH0%ZAP(0;11U(G\T[:F@7L MIUDORMQL/.EV*J+T&?\:+#6ZQG&2T-\"='Y7V.DG:FIQT+V479(:`77JK.$M MWQJ8(SZ2&>/$>VZ*GXFXI@[C4'T&F@)>)=J*-^)Q3=P%@SN/\(C,*FKR'^V6 MIJZOAC]NC%\%Z_('A^Y7QCIHTE?+CQ"?ZJI$#"U92Z$5+XE*@,I?K![GQ13U M&L2M.?ZVC&CI'J$0YTEN`/FUL'E2!$`P+AH,%7W$@IH1(-M!I!(<:1T,FN^: MW1V:1'()Z5%I6+GXY,%J5X=U3NVUW+-8+[^.TX'Y!+/E6`!9/2Q+1?8KH?,% MW!D^@MN;DYNU'&F_G:F7Q.W:E>.E%K2DB=@?I"L;QDZT/+@0"MV=UMF%_&,) M)[W>BW?!EUJLC=KDT)?N,+L3:3@&+]F+_*+H]3LU]F*$A1P1DC]D/'_$MIJW M8\PT\_@NVUWOS5GV?7DQSHC$H%SU=82J#U/?5Z6,^W69UD$/39&MX[)Z8 M!%YYL.7`]&C-.;Q;@8&M]DDTE=M')R%,E(65P;)6#W2S"BS;9D]RC_(EX^=L M_>#.UG:\B>KL,SK1%*00W5B.5AOJ#.X:G4Z-J&5R[KB,;S*F8S)8>=QOZ=GV MKMW21#,X<:P"3UZB=YRL,+7\3+NZ]FBT$YN/9QF%463P0)MURHGBG,P(W+*@ M\A@*05Q1BSOJ]J+VM(>*[B!+`LIBCE;I%@#DW:_.DWZGH_G"<,-)SB\OX8R^ M]WMZ;,@@?`4Y0!5G>J)-/>F!EY9;>B$!I6'+)S1.U[2H1M:^M(0G:+$DN M*[@6(#=V7.S,*=05VSSJXMFTUS+PU-#S5K.CCY-GTXM/TE:"F%7CRJRN(D0U MH^D_S1RS)C7P7QA.99:Q@BC*E,,HD$[2V.)2NF)G(F&\L5<^93PI?G MY*&&40JC'568A-8'E>AG:4B[4Y1^G0;35DXD3#]9,ZM`R,I98RS(`R$T>!-Z MOI;`V6FFCA,EDMHS>E486A:O^MU*T,+:50^O.JWC5/V-1OB*0+(F9OI:II$3 MR!WW6:AV/!:?PWH6IPZU/QRXX+RV!Y^6;#S6Q0*-WV%^R]7N,DO1"2:X\TRE M[Y&Q-X%N1(:4T>17@AM-[,Z'#M+ABG_PXO3TB6H;(%P>WAWHN!&PNQKLRU#$@>C7R2S(4GBU$UXLD_]U^129')_7J1 M56377F2A+>F5%QE$2Q6]Y6JTLX)W!=JOY=YSD(R9?$TPB_CUBC!K=NC>X$^* M;#,]9GE<6397,ZY:W+A:XF:T]D!*\YSE\&3QJ$8\];GQ;%!Y_67=;KPBLI3# M*4*-5"GEC:8^OI%)+CXJ50EA5K'?[&L[L4H@U,^&B$SQS.2Q$%4&C:/3'-FT M$DKS:@`S6-@PM#HO%\3HSCO)U@6S+<*%MS.ADM(9^H[`6//ZEME"]#-5JJ=M MU M4J^+?1L@[DB[QDNBRWG:?F&SNJ%8R M!S;J$JXVU_;274I:3_N&7,RM.V_!IK(Y3HZ#Q;,VN<62G"KAL02>[#2G$J!B MYWAG5HRUX\MY,G56'98GT\F_;[CPDH^/_\J^-?].]S=@ M4VG?FGW\\.OZUN)X7MBW%COM-W.\L'9\.<^OW3$EP.5O_L_JJ$O82_)E/12 MNS"YY$O&PPO]ZSFE M*LV7:L1J057V4)7Z3RM.:$G;/U'%*D[R!():=#^P1.0R8NM\XY%2LF ME(^[G64O7LY_A%44W%Z"21L.R@+,?Y:540AAXH*\ESQ?J*&=+Y1!<\^*QI<\ M<*AAM)(WY:;"U,]"X@3<[3GQ?HZ=^-;R>KC9:44]?1[*-8,MHIKZ87DU@`UV MKU-2CX5W8N=?I1-,W.-3$F"!`WMCIV'M0YB);KN.W-^'`"7@[2QTN6Z5;64I M01%("4>CO5`'\Q\GTXP=%/>B'=2VD=03@H_SNA6?:N)Y<.6!YC^&U"B.,QNF MMO6D+E>=9;=QRGE<=0&P^5UUE@HG01:K<\*6AW)@L5#ILD6LCYO/0J8KVQ>'IDL?ZU/G;BF^.]\K`3!L:3A.6= ME5J_DC=TGN>GGW08:0W0"YQI7!JXMDAMY0OL=G;#7%)KFG&L+;M-(U8#IOP9 M13E,P%F3$$L=XUM\44`1<)&AD?TT=<,/]R6\[ZN>G%%?$IE,*W$A9'%8!3[: M4196BLU<4@<[Y@LXF^-VKI":0#^OLRD(O4"ZJ)UC5P%Z\DF1WJR1GAS5PW?M M_+4B`'(=_5D<>_[DL=][6>P%3@3-6'#7Z7\-QY;&OK87.QC0*(4R=HJ*.N!= M3J[55=YT]?(F0B(^3)`;0=5/7:0B"`URU,>&AJ%]!B=.)WE4K@"88K5;-A8% MQ2+T]$)]=_">S-4G9!SW!B])7CX,+JXN1I,O$S2ZO;][?Y36W"!,[YR9:QGK MIIM5?CI&L_$/K_WPZ]&.^.<-7%)A8OL+P?S"^X!P;B*-X)OC^UH;Z)RKLI5( M^]YDZH:=?-0B;!X"DRPU6X6S(`X\>A%&AC$%&8$=SBVQXY%GG\FF]P4 MI'(&7$,;6T05U!?'I`JR5E`9RYW#:Y%;K)?Y/<5LUH+&>GNT5^8O797 MU"8\/\4;%B:HM9)(2=T:@8[-&<_/T`DH#+R'MGU!4E'L6H_<-( MHA5J*='#>?>+>B'Y_^![MJFMQ:+[+9]CQY\<'T&YQ6QJ8?^0P#MP$]``]F99 M_7P7V]O/&8MSZ([-Y*='Y3X:.G?HC)IRX,,;IY9+GIG\9C$14^C!1UMNI,O; MG1]L]\RBCTBX&YM\^.&/-7//SL>3NZOAEU/T()LZ0]?#^T_CF\;5Q>7T%#57 M[AF:7OPV;8QOSB]N@BO^,_?C3__M7?*:0M@&O'Z[-IGYEW^8PW]_>[;./#;) M?Q+(#$`G(Z&.31URABYO;Z:-7R\\*@_,MOQ+D_'_7)PB0T%1%RZ'U^,K>'%* MEU"PW)`G=,^6V-F1-][]@)>KL[\9W>;9:_QV,YQ^OK_0.GU[B6[O+NZ'T_'M MS00-;\[1Y/,UL/*+O#,9?[H97XY'PYNI9,Z1Y$Z(<2AH1MT$&:I[\/L#/PI^ M+239=K=>T;Z59(>CT>WGF^GXYM.64P&4N]NK\6A\,4GD9[WLK:F=Q5;RPB2DV0K/Z$>.0 M"WBKLG[T/$2OU6J>N0L2)`?;J\;93VCE#8D(0..P1_49R9AF+[VCEI'+MK^& MF[YN74>:A."#$3:]9;:`XS#*%)?8$'I(20*N"O0$ M283\">'594L$;Y@N9PXUH_)'B`2#\X=HQB!EX4`1PC/TQH)7U1J')\9MZPGZ MF.B4IPL2-P*-4<;)F9",6D%[,H_;454]$-Y"8H&(++=66(AHA_EZ/B<6>J(< M^B$$XF3)("F`7)[*11'._'!W#QI80N%@XA#C(J)@#Y#.R<=6:U>]*A%P;%&& M9AQP`88-"CXS[S43DV=8>/>7X_.(]%QB+AQFL[GDG;O`T$=.H#I9V6PC>[&` M(ON1\#BT!9TOT!]KL`UWXZ$BMC\=NU%M0/\D+&R'!(&F(;V,:C*4(U+?G/4, MF])%"-5H2%\AH^5RNSBRJ%C9>.,]X*E,3$^V&@1J)'(.9:?FTO MWM96\P,,H,`RQ^+,EAK%>2@(@I5MA&MGJT">1F`5-$U&+64/1QT+($ M&[RC*R+](_H5N^;"8J#J$P+)+90R`KIY#A9C@OD2X/EH+!D#;S*JA/SA/F\HL"T-$JQZ*;D*AN39G:R2GZ@+ M,4)*%7T&%TSG:1M+#LK2`Q!!7P>.2AM5H5C0MTY^Q3@B4 M2QDGI;!V09;NA'7HAUD5DK%8'&XC:TSJ?+ML??<06GGKI;S*60;BX!!K-8<" M51:;Z:[79LZ\`2%R"77P`Q3$*ZAFGJ$PE&GL#-0-/2KU>B`F7@OB!_B$.F\! M%+QV'#7JY3\)KU!9`":;^G1,E4!92J%5/5Y[6*`' M"!6J418LZ46JS@52)B<6=;>*.=X.!^@*>0]UDP/-?62.M4L[,1"!I^7*0^HO MAD!RA$1_>QNY](&85$1/6`Y;>>:8D//=0B7^`.%/KDE('4E(;7P;7"-.P(GV MP1N*H@*Y%-)CJ#>W;%QQT)G]'0X8FB1&*;R&RQK!=W]4Z'T"0UUHHW@RH=49 MMI-03"1A[/*K0='6'@B2,W,RR*,)6;EJ/[GDG_$]94Z*]J[R"P[X!1[U"W)G MDE[.[.8NT1UG#OQNDK>,\]]`[3MV-'>U,^EF7V6PH/M_(^A'(?3_AZ9L14W4;1[_=(JNU[8K!W(: MYU!FR_$QZ94B>,(\&7(HT>?^`,2/6-7?4%*LH2KQQN`DY]'%DO"YA*I68P@T MQ>+W>%N7C)LD@O-B/+T,`_TI8D)GB,QF1*Z=)6KZ94,P%[JC`[+RS`R$9^`2 MT=_7X/N-X\/T6/$+<2S&95'E$B>.T9\`0$N?2Y&1Y2,`L1UO"F$ M!5'5*C!($."`%UYE&AKIQVZ^8#O%`PW`2]@&M^>_I!!C.5NW8YS20>BZ/PT) M;Q!L+G1SD#D%XQ34`U[?0":VDBFQ)5DCM<[35&76S6:C9=1NU&DV)(>OMS:( M0C88#1^'P$9J+F1*XK"G>(HE_8`G?+#UG7TW6L-E9R_5$NBP&M)$`N"'REHX!R\E\HM MG\!>D/2AOK/M M(/Q-GE?@;;W\%_@&(@5EB6DSW@4FZ90#1]D(&?<6/@YK_O^W]R7.;1M)O__* MO'U)E5U+*3QT)ME4R;;L==:VO)*RV7Q?O=H"@:&(!`08')*Y?_WKGL$Q``8\ M9!X#LEV5E"02@YF>[E_W]/2AKK3`[QAA&XQ_O$&-4D2%1?O!Q+4CQ-!)$%8& M$ETYA[S"8QG6H(C#`EP?S"K722S9P%-XT8JISR=DCP8U5>@5YW,HNKJ]:8&D6NUFS.85M M@&>@3F&X9&9BOKD8(;D6"%5#(PN?C\H/A7-6XWOO5&P?<>)S)YFVKM]!"^.H M9@^]@?.+./NE-I$^=/!>P[%U``;2G"),X%1\1\*$*YO'%SRO.@%`'&5\1D>B M9A2+\)'\X@>^(/Z@NN*J#!_FL3E-XN=(G!`S4I*?1 MB]ZHAPI\])$,U1%3JD0)[$O$'1'3@M-2]UYF*6+:(IT,4# M!`,P?3'+5/L9QJ%:W)ZMT*AH_CI)8>=IAO::'UE>`?5ZP1ALG-?`RO:Y`#P.L\,9R)V71R!VLFB."H>H@7&Y MOZ*XQL(7UZ)":VM28ETQ:K,:81<%7B(56191(H-%*U/)0T?SB2S$)!&)F5*T M^20D2`RZW7)#.07`\:,G<2X`A,Z\,F`V^6`!<1[6E!HH9V!6Y9LUDA2^'1Q_ M8@E#I^[Q$+&35M/*/A=;GAY!8<9I/001TE9?(I#1D^:4O"^4[B3THXC#Q$Q] MJKCL!?6[='4VJ;4KGD'.\GC3H?=U'A^H/U`#3WHPX<9[&H5MJIPR=]/D M'DNRN)%"F7S[:L,%U;N[.`@\X4#+`Z#FKU45'FGMZ`0'V:V(FA3FFG1M6C!W MF4,Z34(P@O!*.72DPPYL3G6%,"DC%DN7]=GDB/-XT)R5301Y%K!6,JH!E+A^@IN MJH8[A@_`DJ2]KQ*GO`=2C(*H$(;:8,O(7).850>K2=U\KKJMO\C5L!7>7Z(K M!>@CHW1CS/^&S;2`%$N_"3*NF(MZ"!$H!`/G>2#XC M`,##Z-K(C8[9QSQCHVH#840)$$SZ*?"FY4DHVM*\\EBF(>J7A\2S0J^"QQSC M3:1/0'&TY@"LK*R3>\S%I&OTR9YI<(W"P[)VO\R^24,Z7'BFE'.BV&;YN[+` MJ\R;7(P%%+I5:*\QKYY"1"YTW(VD(GJ6,C3HD8"U>3*/QJJZ5-7WE38PW2CDMHB]&'29@PE4R&6Q,N4Z M>**/)-.7+[5+SNJPR)NQ&+TXX8,4G6PE6J]8_>USHJ\:N71GN3WM54]*>>;= MQ!JW0`VI-"HS;Y@Z1G.K#Q`;9%'X$C%1+8DRO^P(#L;QD:ND=>;7FN(3T!WL MQ=OW;V]>L@D'4\L1III,AI+A@\M=BNE.3VEFX0R%$@423@I,)$*3-`L7QAL:3'HV`'&I MKD6TI6](0GI?6"+B8L%/\.HK33,6YTI0&!4-)H[;222G6WEWZGZ0V<5?++2; MD*&K4RJ?C?$B*/!][@E6D6P0V7B/TTG9);WKT:01-$OA9UB/DB^-BB_+PL9L ML4`*2CTH3,2+A^*9Q'?_3$0NI84/".'*I`R_H@0(J`Z/G`EDB1]Y`(T*_A8< M%::V9#J7\LU.7>2*W2]8'*TB?N0$3PU[B[?W<9*G;];GEQMWN)HB)DNYS2G+ M@>16CU?SZ4?68R"C&-#@20_L\.CO(C8"@"5O)E7,OC:;8C5YP%8J9PX=;U?- M/)4%DW4HFQ=/-KR*!_8:0K]:G:Y;,2_FD5`I-J&>1:Q8&!A:651;2VGB!M([ M`#PMY<8)5NQS'\;QD0C.E_:'C$84IDN`X*%QKA6:%H`,CZ888A1]_[S=CH50 M#Q_@!!>$*86?QB"GZ8;98"Y,4;K]A_33KO()UC&H?_+D.O$X_5NOV_U6<]_4 M9%`6^QZ']754ON&4WM0_^;;&2M7'&EAJ/@@#4-W.O:7:BA^?M9>BO\FPJ87 MTFE%,LF/PSF47IJU_>`)S/ATB?(7C7CIF+YA#W:L*^N3V@5K/'/P5XGK.;7+ M4_6?N/&0<5\RH+=0$0N83+];.5RW6V`'EX:)U6XU1F&:+7[;82'[X.AB+'B7=!X(AT20JD6BF0:O`5@509S=7KY,+%Y6+)-F\&9P(K M$@DZ5I2F8`A?27:I`6<1>>TL2_^%U="3(9XUQ`/YH:+(G$\'R3PF5I:':XFV MH-7K@NR8OFPHI26[QW+VD"Y44U@/(SA#2_@A,W^?B`U(\\/3>8I`[PD&#*75 M__P$:5.5FA<_6_!!.&.#WLLLX\K'4E=9'D+Z/-[,V5:,@VHHG[N/FF.?\XTK MQA3.1KP?\K316A8&KAY%,9_*C'7+'C<.+]S23'S7E=$2QZ))W$<^GW*:AOJ&;CT0<>+Y=_8<()]YQ96E]]@Y!SIB59BRZ4?T2-3N# MU/=,&'IR2\"(3.>6,*K11YZ=."8QB$<287GO6%MS16;(9;9^"Q'.*V.'*3GE!!!MXI?ZM MMD+\3CK,D!?'P>$LVYGT*BFE/OQ=5DBHIYZ6#U5XD.1.U'`F]*IX4M7N(KP[ M0XY#KJ'V3,M89#:7]DW5N6Q^O8V7"*/>"@*8EA?5&'SBA[K]5`X)3@.$^G_+`>?R3RKK`P.?GG(XR>>INO@2'@"EQ4C\HF5QU!F MF45B826@BH;`.1:AS&$YV5I15DDX#2(N>U.HP">S/"RI)V!:H5!>$O;T13"` M#V3=@#S]*"JO5,8RY;JGOGVB_4+4G!"?#A]@<)=V!RLS4BDE*B%)[2]RG/,E ME3.G7#]E[OKB1':]C,J2%?NDO1(5I!+Z!NM[-9SEZF>X*(]2"#F>!S.K`&:; M+[$0MLQXK%-.-36RH,(HKX;DBHAEI?:5J&OBN7]P;Z:&5BL#@H774:ICI1(N M)INF"F*44>A:LD;#:U6^BRRX;+0(%Y`7(0UE/L$HS5!K6F:%S10ND2?GY@.J MEZ8]I#3-RJADKZIM;?7%PD4WQ4(3Z"2;IM7&4CLI'4QKWL`8J;TOAG22W'+( ML@F!CS+3`6.[8C[!VN:Z-AQEC)#C<1$XB8:VMA"ZN@TZZ9+I>L5)H$CDRTPG M&.*(%)N;[.',QGD8?TB',-G,;B8ZS_5IHJ@AW/ZDK4::5]=SP& MZF&EAHYJ#);!H^ZRU9?3C](`VO`!O;<91=-HT:@:LOH`G!RG:1#LM/NMG)H[ M#@*1AC?D\@24>I0$QV9"4!%$'L>R2I94U!)Y=)M`UN9JUN:O:3IXE2MO.>9! M:M/@R."<9W"B&(!L`)ZZT1AO#UB><1]*F@H;)^1/0?A'I3%.%FV;/I%92DJ. MV`A.HHU9N(WNS*)'D\6P-`T:,OFL1/1Q9B%@W7R?"[=E%0^R>@UH*.#W1);5 M-%9J-HCLMVKN;F-A+TSFPJ_Q+VEM)&758DY%T'">=%V/)"^E"S>JUBBMSJ.^ M(]4K]<-P-C]1T@W/WK+"V-2S;*GW98FIHLIE+)L/`"`6UJ%JX:@QXW(+F[/` MLJ76M$3HSND)56,Q5TF/E*E_F#927B?:M*$KRB65VK[!AD9@[:(GB_V!A7]D M^D-VH5CAB_S5HBY8\Q94>'N66[FU+B,HJ#*[F_#A_'<7$"3%6LC+ODJ%T,VGN]*X?&PK! M'P0YGXL3IU^!$_/*=!47/NCLB/)]R^[&:BW(1IIZ1$7PD5J,%^LEY+W-A<=* M+9=7&V1QB;Z0IYE]8"E@3=S,SY=:=A5#I7CWRO?Q/WZWJ\[N/XF)Y8WE7V'F MY\U(*71/G=\7R$]_RYW?7UW=O;\K*ZB;M^SS[?4=$%%DG-`]SG/[/2:^<(OA M'6R`7LY(_J3I`5EA.K5:=+G7H](@LJD?I,[,+=I#LEI[2'T_R.H907P@OHJU(T?T]=,T[Q`)VV$*A>MM5+\RK5>.LJI:C.6^ID MF_6N50L^UW6*8BMB'K?2NSGS)LIV9BGEP!9^"U\#WCWZ9_TBZRJ,7=OC\"DR MRJVH]B,&O#OZ][%HGR)N'-)R;1CU7"31*S:K#!HI;A2J4QL%00S/%9X*72+] M7"(N(IHN?B*;=ZH;[H;3&L>NKR:UJ*(C:#5MTIG`P?C)MD)(&*N)\X:L^ MTJ!N#(38JEN60[+M$!LROE0+\O@<(]\QOEMZL]12`97X%DG@0C;2G=!+QDTU M3J>\B]F%*GK8>5H%(3T]2)=6%C0L@H2S,@3E,;*INR*U7T3GH'Q'YBQD[-R"QCN;5##J%$2RIOO M8E^QZ.Y(5AJ563USS!V=O5-FBPSMLKVMQSM7C0K,ITGC,-"9G.G%?]3`!GM" M9.)1,;^>G2)1'+QJ)Y_*R2C+F(*351$6+*."BV-7?JQJS;%I5Z>FP99/3>_A M;/3IW?M7'ZXKMM;=W?7]';OZ](:]N[EY\^O[#Q\(3U:^E"Q=G\1!+.KP5),: ME(01;6Q!$9[P0H!'D$18$NBEOK3($CLBBXMLJ82(NA)=0KCR89[S_*ANZS"( MXV"B>=/GJS=OWG]Z=_3JYO[^YB-PQ?'IM-G]L3X^:*YUT%!P`^3$C1-8HH;D4QSKIQMI-NJ\EDL#BJP_OWWWZGLW/CV\C=4C`=`)VMB8! M>W5S^^;Z-B?;T+/``!3$8\*4;E+6Q=2V90%BXV0>+MC2#6\JNBP:WILY,AJO M3TJ;72U1LWW06+3QZ3;-@Y4V2Q.A"J&**:@B/`-Z5]'$3U]<(3QN87DJQNV=KDC131)L^/I(A6JK&751A9DP`< M'@5_$754FA-#B';-M/L@&C:2F=,&M":M15K+%-QX%P;UGBG9O]=I"OT:<.7P M*'LELF'7HX(0F#SD(<0F!#8 M%``AJYBL8L)DPF3"9(.0@ZQBLHH/!8&7NA(OK6`(=,%*U;YS)'HJ?L_^[^O7 MU]=OW^H"EC7[I`\TG[-):JCT:7=1WZ9M"MNBJ@I;X83/:6L$'70SI5^"K,.5 MMTS8GF`NM[.]A7W^6B%/SUPU10I7"'.^B#""BQ<@SH9)T^LV[$>YG<;B6_J- MZ;4TEC,(PSX>D-A-C7Q#IFW5)U/X@T<5I?]%1A3"&,(8PAC#FV21Y MT;_0VS*$,G5BO5P7_Q"Z$+H<`KJ0!4,6C!'$((S96XQYT3^[(`MF2Q;,.BX6 MGL9NS.O7"G2IL/'=?ZUMIYS]*[557D-T"ETC[+TZHFN$1M)4&VZGKZ1+!$,X MCIWO271-5"&\(;PAO"&_F'LL'`SW<$-K0Q8))PD0HTV*4(:N& MK!ICB$%XL_=X\V+0(ZNF39<-E,6PRPN'>\Q3T",88[XUF=/&O<0$=,]`&HDT MDMX"UMTBD#8BV]=$@2*D:3'2G.H=>H0UA#4FBA1A38NQYD5O0$%]='M@OC`1 MRK089SLUH#;8Q\VX<'5]J2@&P+2 M/*80I@V:IS=HV`_*13"$U\@67EGP")%:C$@GYUJX(:PAK#%1I`AK6HPU+RZU MQV["&KI',$F4"&-:C#%DSY`]8P0Q"&OV'FM>7-*=98MN$5;+/UCQRJ#T[FH; MG9/I%\*VI4E#E,DHLT1'E$-@)*TN6$BN)@71:H)M1%4\E_-:3,SAOY#SHPG,9,RF/'0#)V+<=[C#?DZ\&1OT.JS?[?6P!7;Y$@?^VF5/5L2L MZ30,OK@3*^;PP#>GIYUNMPLK8-RRQRSDT93;L?O(RX_+=QTW7[.*3[*,$X,V M<2L;>!W%@J!.34]8RM;6-M/G7V(V`EK#_R+;\MB,6Z'83]=_J//@U31T/3:` MS8)=C&`4SPN>(O8"]BX>!TD$>QZ]_'X.],W9(R&`S.:>-[4&3__&G@AN':/$5NCP'.=^DSJ,+JMO++?$^":T6S1 ME#:,[;\!RRT![Q7FV80Q,L^6%5M8HU2;35D[0'G*"-%/:?`(OYE)O>WB4LQQ;*C*DQ1Y>:-&52*&!H]AN$^47()Y;K M@PW1<*+8B-!1-.S*G&U^-*P)SA'#HF![IY35TT+-M'Q-#=)*7Z65!ML\YI#2 M69EQS5RE\EFF MF!DI'U(^QA&F#,BDS@M<%(A$&^#B93RY_EM9?/?XC80Q`X M3Z[G,2O.(UOK"\A"7?/0R#3ZM1;G6IW)-[W.Y4D?(U^/%7[(?X*YAYP]X?_\ M@-ECRW^`18HX2YZOHCZ=8EGY])>/VZU.,5\;1NYJ`V\I]%;/9BD_L3%P`0?< M2C`R5^P"4!XV!)ZW.0NY)_YNP\Q@-SF0MLJN@1^Y#@]E\"YPTZ,;P4]1QK=6 M%/&839,0&"2"7Q]@BR6X7]A[#'SSQ:"6!Y,-IT'ZBA>9 M"/2[/XCOYK_W?GA9#^G^^.K578?='5\=EY[$/Y?X3E!N%,\W5!#_CEEH_^]A>[^Y^W MH!5['ZT9;M=],.C!_N&/?_EIFV>3^1;E"K#QZ[5\S3#PG.=7K-2R]^9^>O_I M7T"NF]O?5F>:W6_2EHR(?'#7R8S)JU>]HS.-E5E:+RJN\B@Y@3,I<>&-5EA3 M'E$LM`)`$LJ^%X`1@$AD!Q$H]I"-+#=$6SCA'99$:,OH,&KDAE%\Y/J=]*<@ MB=F+M^_?WKQD$QZ/,9%&QQ#*S'(-H@+H@H2?BA54LRA4*,>ELRB93*S0_2\, M-IRQB?4[+-#V0*VY(]>6`&E%Y6E0TDG]3?N?K+"Z.V5E^NPC>S8:GXD!"0$-)%V>X.`W4NC?>H'BX#;=;NO\URQ;QW8J8_3 M=R[ZVHK'1ZL?L3DZ$?T90;?=,1_C7`OR[N.@2_ADI MR7,-L]+U7[)QCHQ_]S=,3^]]>/_QK\O__]MSU-OOSFGUXZ_SU_ M?/AMYO_R)GEZ=QY>GO^C__LO][/(.W^T_]OU?HXO?GG]X;/SV_]X@U/_W\.; MUV_>S][=__DI"N/P[[/9TY_WM^?)<-S_K??V^OS7WW[YI]6].+OZ9-]??>C> M?/?'_W@^?W?YRZGOCP:O!Z<___/B]O4?M[V?G1GO>K_X[_X<_/5_[K[[QRSY MQQ]__?>7G__*GV;_NOSU?/SYK]-_??JS^_C[>^?A\HI_>/>O?_WUU>U9\N_3 M/WZY^>[BNXNK__[[[_^]&DT>!]?C_L^_3SY]]_[FGW_[V_]CK^]NCXY^DH3+ ML]@+BMR,L&(`]R.1BGHKZS6\#J(XNAM;(7^%)0,^6S-1"X`2W9=/JC[=%N@(_"CQ8@L+=J@E/7(>D)-O MJL,3\>99B?F71W-]VTLL=WG98W^]C)S/LX9B/6],FRGO$H]61GU$VY$"8W[:# ML-0,4^&W:J48;1VI`"PY%^OL"#X0G%2>?S#-64D4:Y*"H$I5-@2(70CL&#X" M&YZ=B[:I522/4"]%LE[$9`+#BA=V`*[C,;)FRBGBK^F;HZ*N3S&.'_A'?R:P M!2,77E;^.JP\+SFDOF6><+&)-8T5RR@O$N?I!K,[7JM5FFH:N M#906M8,0E3P>B=]D`2%1I6-BA7_P6!;KR"H+.6!"5/9_)-^BQ9]/I7U0)ZB= M7&UZ2I4C48X,_@P3P&(;*HT*HB@$4UA=)?@PB0'F'WE*(>XKTU"((-=>'ZM& MC/GK?\=]'B+G"ST3\?J`&4V&''@1H/\+#VTW$G4]$"X?.99-><0:*CY'[A'= M;ALJ3^$#_,O4Q=)K;CQV?<"*M"5NRE7IC*O,T+P`4"!2\@4X6UX4R#I>CBRQ MPBS;YAX6@ZK&=.#$L;J+*UX,,\*>NVDE.*P/A59F&'B5(E7+Z#1=O:ST':+@ M7$K1&N+EO?-8D,01B*,CJL\$LKP7/-@_O^ST3[L2A`H,JF&4$+;$=]+R5CEY M=%J(=)"NP%RNQ`57`.9-?'>81%*)2$B257*0Q:0QEEI0=::7!@MN91D%7Q0? M-"@.O0#Y.LAZV4D?113BMBO-)^'DB#IE6H+^B@&\$%&D-NO4_@3,X\)S:C6] M\AC9@VJYO?09G&(@2JN5C-0R=7(4M68"25#>K&B,]9?D,H#K@]$((#9455<' ME5I-;LK6J'PW:G%X.L,"T$8Z2?TEDY':F#D#5.WO2!8&'+H>[CE,4T`32Z;X M\^"BN[S1T`AG?C(9RII4\L$Z&RA:/K?)IU88N[8[%5I<5*;$6G>%>I(JJ3Z6 M3D?YR/.6[P.78=T^D(&\>E]&"<6F45D=T,)U\#&5,W!;+*8>]?&7B1O'O"9Y M%MAA,WAC(W72@TH!;X6LXJKUAX4,[)42CT**!9U"+N%5I6"-(5X$:;E`>`]* M8,9T!7.^Q.V0&)Y939F]6CYV"+4$6S,2^R)+?@DU`P"E7?9-84>J!JY"M+K0 MRZ6ERC;7LM8H3JDF6*@Z#FK?1L(7=!9:-B6MHC0SM:V8E4*#YD1/36\%.A7M MK"CD^EF@IJ"%+*D*>K%&+D]NH7IN4,)5DEV(8T*#B(L=.^_T2U\HP+;"%^4G M)9MGDJYA=SI3KEXP%OA--`07S(<%6^=Z'F`B-5:TQ(%5P!J:L.SJ[C6[#Z:N MSQB]BI,'MTITJZN)?M"A0=TK*_.+X.Z2*OS)MQ" MIRQZ6P7C`J0$#[Z;'?I*Y,&:JCZ<3X405U%7)>I4NF\S?L[U"`K[1,@]'N4J M2Q2'&'T%Q9B-DE!`<;X66VPNUE1$?9B.J\,0I;:CT*[-TRR?G\JKR]$S+0^) MYF'J8@"QQK],`H=[C3@JWE\[HHKJCT&HGK#%7*2>`NB#`WI:ZEHM:*LY`.*! M#+Z?[AZ6?K2B?+_$20T'%]2+7%A?:BK53#-9BI)09GF4*;,7MT#7I9PAMQ)K M$>=L/X_%5/82?@2\>#NZL\>!ASI$PVT=J5MK7)]$4MC3LI[X_2>.!@)WCBS@ M!>M!5+E.)JG22ZN95WV_"VN;KZ>8.94+-?M2E.A0H8,9A??J%-S6M2>Z+7BX M8$LWO*GW"$[ZT'/&/B)F1>P:P6J)*)5E4K<.C\)47W5?\(IPFW#;%%0AW-XT MA1?CMB[ZD'#;&+Q:1Q90N\O17K:\GL"M&_UQ-"J`KOIR%U$"/3;H`]^6,#Z[ M-$X;98AJXQQ.;9S^\:6V3?-V]%7+JN-\N]VL#8(3@I/6P(#N7%!,I)BUI&FJVD%XR MAXT(50A5"%4(51;0C#R\^VWY/@:>%8M<@84'23)[24&1@II'FO/!\R^2 M)03W?F#PI3-=.`KI,7("$^B819@V@,Y9[[BOOU0B0"$W,!G#I=U_@^F?O%I? M(OLW<[FGC^8B.YA4DAF$:8-*ZAYKJP:2.B+[EL#$),(0F!"8D+-WC^S;MT$X MXFZ*@]"U+0^+PUAJ4:.L]$M:A)5K2POGE>ED MZ3]+%G9)L,J1*VO.--7EJU12B=.9`)Q6DJIJ)@$-&'N9,(=5]12J@D8 M%M+C3O;V^75GPRRYKY+&5QU3)1B.^LOQW3&[#T6YK9GTBC,["1]%'4P^&L%4 MTPJ"]96BV&:KDF6"9#G!8>`[LB*9Q2)WXGI6*!;[W%(\!UG`*9-#Y`'W4=0V MC*TOS.$.L#0*'M+:YF&,-1[54JVU+2])*%;/EA5;9T496/C;%%A;BLE#5H89 MWU!!5,F_-E9^SNJ$8>UIY)"BE'E>:CSDF!#MB$)?&NX9YQ6<>5;".ATT'4%? M=-91 M:4%UUKZB/09N!K"&*,#^)2N2]\T`V!!+<^;5Q+,!$E^IC5>J:F@'".&R#0WJ M75&T4U8(K#-%6C(PRBOT*67YL/:N\A)1=<\J$ZU6AJTH!-L_[EW*5!GBBA6J M[^45[H1]B140I]C.`6:@5N@&)(O=1_RU7.M.@:`J0.AJW7W_3+UJ?(F[KW(9 MG_=7Z.+;6!?G.6[FJE-Y*5=QH28:OK/83[L/L]LK%_V=KD!V]B^MI+W$"7=' M/OIGU.%JM8]I?86X2C=7:T&AKQ2DEA>/^B2.TNNXRCH\VH')N8XHM\,CW)UL M>+&M^]/M-4U=K519JR&=%!XIO#9BSZ_9@?Q*'LA)]3TO'5)ZP\J^@.S?9W0Y MKD4W$KX3OK>7.LNWL)_K)CEPK"'$7DN)TJSMY)J\(H='P=XF7I_QV7:WY4W1;:X!W8M6O%;,KJ:AZ[%!M['[PH8L*I5N M2F#7\T,']U_74^1@BR,'TY;+&KJ8<1@Q*W1P[8Q$<+.'KI MEJ^:+LCV^RR4A1VMJUDP62>':IW0>:B1-$='=`]&YZ"=$X.0AI"&D,8(X3I, MR6GYJMMX)_2,,'(Z+\TY+Z6%3-MX7EH+*Q@OI.NP=M:0J;+_E'M6*D:9<@T& M$]E+:V+"5G,A@1Z!GG&4(]`CT-L]%U*.Z-IE=#^\$6V]K9O+R"?3+XL/A0=W M3%TQ[ZU4@T_'9&T]N"[-'<8+[\:,N/YQ'W'."9*AQY?1H`=`O>65Q!SJ-3G\ MMTF_P=F)T8EV:^+(5K,DP2#!8`MB.UL)?\<]DSN4$/H1^NV":L^4;[/.6;M/ M0SP][G:UYZ/]3$-\?HQMNV6-8C:(?UA(W>W2QMVOY/4R/MDF&4QL]V_V3;J=W=DX7>P:S M),$@P2!=[&VHLF>_3Q=[1LLQH=_VJ487>VM"E[,+SMMA%QU M-.S`=["-/LA[Y4:XY5$4U+$4=ZFUH:H%1PJOC=A#K2'70<6F=KV$WVU!*,+O;?JBJ5DO(?*F/2+4K)>: M]5(M\NJBS0MOLIZLT%FR5Z_!L4US9[EOFI["N%LLX'5''VEV=C*ACK7$"19;)X5@FYYU^4\-:LD_H)&2B M6)F/-R:D/AB&,Z?'7>I72RC3?F)H#DV[L^!WGT]P>7Q^VG`I9T`^`=V-M?X$ M2'UZ=XV7^V*5T2F0_-/&\1`A#2$-(0TAC2D\1#=A+5YU&V_"GA%!3N@1Z!'H[1474GKHVF5T/[P1;;VM6T^MOH,Z MIJZ6\D;%O$T7W8V9<$97L35>11A>S=;X^%*J9TLX2#C8BI#6-N*?X7&OA'Z$ M?KN,HEV1&H"UUY*4H#0K\6CMAVA#X13TS#:`9H0NA"Z$+ MH8L)>11SA^[OVB"ZA^FW-LEF:J/_NFVA6.2[)@0D M!*2;.T*^/4>^S2+<_E-&*Z?[29FYAU;Y84/+V:]L);QUTOA=T_@1T MOM6VW2MMK_5HN9YHN#L*0C9*XB3DC/^9N/$LB]J,`\8G4R^8<1YU6#`:N38/ MHTY]\HX;8O&8L]?!9&KY,Y;X#@_%7_@7-XKS MDVY8O!H*39E?^]L1AV7S8(^#!]_]+ZX,&>IH:$5%&]YB0!N^S_W( MPKG`5/!G,;MO^J?X'K&N;\[$C\AZL,2*0,?CD/.C"4C#F$UYZ`;`BQPXQRGO M4\XCG3)A5!9H7-13UGO(DKV'V,ARPYR26A:8M\OL0=:QA5T1WU664)Z<7(]V M.;A3WPR.!Y?XI718^4Y\96U*^-6^^*HZ&=R88QV:RL=*?AF#H'`K,'B?<$3RJ)L/AXEDXD5`H]'\#+@SHGD8FL(8EM&QSK?JY)=!9[OYRFX.9NR M[9;H-5?O(N]MLRTRS^SH']*1\\`(4>Z`VLOX\3GGI"72I\[GY$]]I7^_Y5W- M;J2Z:KY<4/W_"[=^;2[]C?/!X29H'C30G.T,9PAFYL+,=7$8(9@Q7KJ6NO]? MCU'X#(U^X+)V:_D/M2-,]@].V%DI72:Z=.MBQC"7O@K3T(^HM/)WPB>7ZC=Y$HN!""KZ&@4/+CA/+:S2^ M/K@C+8.2C6"B9B0;@6P$DQ"&;`2R$79)O$?'.P.,"#K>M1G3EPH!VVD) MF+6*7-O+N'S3Q0K$#4%A1^R;WG%3??;-B-W*%0OF&;G&"\N*IN"!-K!:L;#< M%HEP*7(2EY"/K:BF^1QR4.HP']QU,J&Z>M4[.M=(6VG= MO7[I2*[N.]A\@^;5S!K+^;!>T`(*9]]L=! MGU][Q_U3.K^2JYO0P!P2[!X5Z#1"IH*)DK%K<"!3@4P%DUW=6VSN>=JM]U0] M\",_NKCG><`'IGO`%W4*;J%4+8&XU(9\3]J0&]PSSJRFA-1[G"!E]X0A2"%( M(4@A2"%((4@QTP=/YR%"&D(:0AHR7@A2"%((4EIZ*T`!\%O90D[VW[0V^7>[W&M(KZ7J9XDTH^KU=NC`?O!S]?JF1MF6CW\^.>_WFU5#T MN_F"=@`0TS[CXZ!#V@98/&H1:!`@4/3[H:"!`238/2I M(D@A2"%((4BA\Q`A#2$-(4VK>(B,%X(4@A2"E$W?"E#T^U:V'/W[\]S_9Z:[ M_RGD9.]M>W-OER_/.WT*.:&0$PJ`WQ-UF`]>#H#O=37BMFP$_,7QY4"GH2CZ MO0U2=@#XTC[CXZ!#VDZ/>R<+08,`@:+?#P4-#""!`:C0W.64<($,A0.%A@,W M%"[UB$"`8(J7FV+?=^K\/IOO_#XWW?E-L1YT,4L7LW0Q2[$>!"D$*00IYO,0 M00I!"D$*00J=APAI"&D(:5K%0V2\$*00I!"D;/I68'.Q[Z47?[YZ\^;]IW=' MKV[N[V\^?L^ZQZ?3)9SRAW=-<#[_FN#"^&N"E7>]A8*WXE7MJYO;-]>W.16& M'DBAI`6+`L]U4HZ=@T]$HS*-]-INBU3J=3OGI\9$XW\]@[6:PW:EF5I/H;6% M]3^'H@>NZ?/!*^'_/0U%EPW_/\\+X%>70N'_YDLCX15%_RV[="T7+&$C;9$B M<)(Y78@XA"8[N+F@(QH=T39.HYT?TZEAAKV\,I>UFLUVH7Q:3YWM7&AHJ'G@BKSI,J.O MH>:REQDGF%*\#Y<9&O8A]#IH]-HHWQR.#Z!&$!.,J..>(?V"#QUVZ(Q'9SRS MZ&0`//5/N@W7(G3&(RO)+.J0E;09@I@`0\?]/EE))EV@R`\M0-WL(#X,O\,? M?_PNB8X>+&OZ_1LWLKT@2D)^,WH=3*;BH?R[S$;%@B_W/+1W_YB M=__S%LC1^VC-^MU>[SX8]'Y.//SQ+S^M[&7I;L[+L@(#_'HM7S0,/&<13]P+ MGO@$/'%;YHFS8X4KMO#3I^O[&K^]__3ZYN,U>_'AYN[N)?M\?SU' MKDL.F8+%UK"1@[.OV%SR!%#`A>6P:\@AEAL5CSFS+ MLQ-/2!@+1FQH1:[-+-]ACNLE(&_5P5S?#B:L,)FDAN!,=*G0H7P61EW_N%1&(RA6<-[![W.MD(K*#QR8P%-I/9([:U" MA\W<@)/:6\F[`6V[MX>IKA"M[*3GY() M#ZTX"'7^K(U(RC+[TD)67C_Z+^+3]I"$TG!(($@@2"#68`SL-B]-O8*Y6']O MGM8;$SS6!YK+*[7%[+$V(X.J4"O$V)>2L5N(_VE;J=B^/DAZ*PKI0(O%$L80 MQAP4QO2ZVNHOA#%FF\++%Z1^OKW;2N(^$[-:?KK:.Z2F!@)F^RL.%+H)70A= M"%T(7_UYJQ`I/)NSXBF"S^%&*3]]E[[#3KG%Y>D^"C`P`1B$-X MA4]Y+5F%!V64KUZNZ'HTXG;<93;#]CKGA'L&<:' M;;P2F(NM^L+XAWY,V$`X:R9-S3S'R0TW["`-.`>H< MOY;*C=7]\\$K'3`'&B8JK1<[%Y2'R;?H)KV:B(/:6J9):(^MB,,<+SJ7IUW1 M&*#7N^CTX>?L;#'*#QLQ]M6P\$^UD;""--:*9EBU5`R#-0@[#$:8?:1+G30TJ MK0SRD7C:'$1I8P#CBA%BK"E^!*N*Q_BI&S@1XUA#/%])U5-06MCQ/"$H'9@* M'BY:H#0V+?DI&R3O;_*&#^.B8TH;NYL\0V[6TMOD?,N]33Y_N'[S[OI-==E7 M=W?7]W<=]NGF_OJ.?;[Z[>K5AVMV]>D-^W`#)MO]]>U']N;ZU?W0JJ@`$2'P);CI"HK&7D.7/V-AR6/P4,#ODCALSZP$$7;00JHPB,04] M)A:`R!3K0.(O.%6!>>GC(/#O?2>)XM"U/';+'[F?\,I0KP+?P6XK%GP?,";B M-LBJPX8SYL8`/F'@)+;`*AQMS"WGS\0*8QY&-<0:6;;KN?$,@>[&LV!='?8/ MRX^L2(LXQ!VZ?C@I)^2.L/,?(O;-6:?;[>)_S7L-&_7H.CPJSU[E+=P_W-*G M<>!YLZ/@R8=MCI)AY#JN%<[`\`-U$HV#,#Z"[9V4!QJYON5C9YM,";DA>PK" M/_`OMC5U8^"OD/^9N*'DUV,&:\OF6%VCG')IB<,@#&4;(!@-^`BY*,K[_\!$ M07-;U7%0.[LC%SX%JF#I8G0N`DDLVPX2["$48`U1'6L;U;:QN)!AG.3D&70%K_8Z@X"1PY/Y( MNP>H;XG63G5C+C628&H.&`V`0N&C:\MGA,M8S*J1JG$`_%<;TYH@%XC&43EW M#=%@S.RH*EQ&&3K75YI;A\@4UA2D[8L[`1(!4WQSTCF5TMG!YY_&KCUFWPPZ MW5/Q1\U6XA"/ENLA8VK7]#Y&[E>@../H\E8VLC?^!H^$"<".BWS!@8L1X"NL M"F(#M`!(LOD14L9!.G.I#&`"\D^!-%NG(:"8_/S%`$Y[WU:E$9XI:;:7;.HE MT7<3UT\BO.'Z5FH07+Q?S`H'K)-HY`6P1T#-P?%I]]O&?2^-`BN.$\LK=J_@ M^(A'N!)8DL,1VUQ?DG6N]&6/(T,>Q<%1;/D/+M+:YS%B'Z"EX,H<*P:X1J!6 MU0@O6>&-:_$"($NN\`6='BVP[8%XN>34['K%#L@@&H0_^S[N;VRYONBN%HC5 M3BRD&7ZQ:@>@K*,8,#J6< MV"BVA92Z4952:5^Y@I^'EH=4`(W'N1C$"_P'H?EP2BAPH:.021%?U)/B&`;? MC2H8F4Z*#)YG-P!$Y0L*;C)!FR0EKLXHRK>KPH&".9%A0]F3DP&(ABA1`-=) MZ,8NS&QQ/\"%>T7-`,UVU1$=*G2@UB:[;VTROU4=:VB:M)&(!NIZ0JA"J+(7 MJ'(%1S.O:E;EN-(E7#%?GM81'KE:(M=Z*\=N2]Q^3Z+8'*[NBO$[-]=#"-$[#[D5I3`J>I3`+]VA'N&'9^G!X/NM_.=8!E M_W+O3HG,9_DP_7/.HH_K7EY0"*/P;2!8%KGA[0Z3N_XXO+;W'WI\R\Q&^%<<&3])8O) MX;#MANR]2V^G^OF:6*Q>4QM;,V*Q]CSTCW"&<.9`<.;$Z)C/_<29=9RZJ%<' ME1C=9[0V*9S?,-2F$J,&T(S0A="%T(70Q3C#<*/N^&?<,I+;_B:+G6[P*)=# MN#IJV+7G3MP8'>YYJ%JSLS<+8.[40R;K,9+-PU2#)Y58S?0R(/,?9Y[XYK%& MB>>I065(MINS;(85[R;BRC MV>1:3!CG:[(!0-\E09^!O$A>__;HE8-"/7+7M=A==](Y M/:-0$<(;(XA!>+/W>'/:Z9I=)FP_\:;=-P-]36W%0[\5^,"C:G6=[%\]NV'[HIXI[M2)=+=`HKS2%Q8H6R6*;#A54O'\#E=*W2#T3 M`CY@_@I+RA=U+J)`S;D;&JY67&>\JU`V=078?.5 M\K5.$F+Q&V[9XZS<*19VJ6VS*/0RE1<,3"DN*+`_*WY:*A\XCY% M95Q2^43-KF/F88,HOPCY1#8L>+F8(PQSC+9;A/8N=M"$H[QI%W]=;82R&2=T MLQQ!)FFF==_JD59JT$J#;1YR2.FLS+CF*QV3`E-,4SZ=T\N^R2YB4D!T-#)` M"34D=9`2,@1K20FU60GI,_))`9FM@.@$M(T=!^73$,-$RL<0C"7ETVKE`-G;Z>48X%2FI^S$/ MN37"P*0Z9QBLI@XL=HY*=.Y`W[6M1&>_,[ALN/0U0RE2B4XSCVUKR([ZW$L*NK=9*,X;C3UK)G3>'%H'87) MPP-WX''?&7,/$_`FTP1F''5J^PFLZDYA29:7LJN%:_-%>R[$ZQ#X!V;VR/T$ MQ\>OW+Y]_Z9"(CC$);$+F]380DNF\^)D9?KM"]=7\GC+%BD05AID$2`NFU"[\1S)*NHCHQUQYI#?1?#W`41 MX`]IYS>@)QIS'I:DA^_E! MG&T*=[0KO8J*G/$Z(F:@T#O_(((I&(-?O<6Q?S`FH]3H(P881OY4&_PP$ MB('V;Y0`6UF#OT7(]E++CN<>9.>I[3U+D#]D]?%AT**>8]S)NW':. M^0YOE4Q(,K\?A[RF4K)_'^&MXXA=^PZ8)J4^F8MY8&UW4)27OC$_-D$V0?8J M=*"J(+L';''\WV*D&L$O00=!QUY`A^KF6A",1_!AAM@0?!!\F`(?LK#\EB(/ M"3?,._6UFS8'L[ZU867KXRC6AB9[&>I(`D$"00)!`D$"00)A2C"\/DYLV=C< M9\?(:[?'E'C&K;#,W*YA(@9.RTH;.?M1U/]SJ+;[4.LM4H^B_I]'MT%GT*-N M.89+,N$?X1_AWZ;2;L_:EW9+^$?X1_A'^/?U=#OMG)T3_IDIR>OPMJR[8,_Y MDM7BC"?N,V&RY0Z\=2B'O?1LK@/_#2NQ9H1+_$!KK1&Z$+H0NA"Z&,%.A"Z$ M+H0NA"YTR;^$5^"@+OGORF4MZF]7*U$LX6&C&_\6X#]Y?)]#M;WQ^)Y?&-QY M]X"]O81]A'V$?9NE6Z_3[]-ME^&23/A'^$?XMZ%HIVZWH:DOX=\>N%WHMI\\ MYN0Q7SMAR&-.'G-"%T(70A="%^/9B="%T(70A="%;ON7\`HW$)^0CY"/DV?8M_>=(W^:1` M^$?X1_A'^$?X=W#X-]>=(C_4=&H6F['E?GU5'\\BMPUU'B`ZJ'2@=GU&]&!X M5KN^)2K^K`3>WZ6B4R!!T$':9`![7K:YW8 M$'P0?)@"']2NSWAYV>RIK]VT.9CU43.F&DFH&1,)!`D$"00)!`D$"<1ZS4F* M[=^'V'YJUZ=G`N-EE$*_OHK7#BST:]#IGE`!*\,EF?"/\(_P;T,%K'J#"\(_ MLR69\(_PC_!O(W0[[?0N*/3?3$E>A[>%"OA1$9PU*X>]]&RN`_^I",Y&N*G5 M-"-T(70A="%T,4'.#DN("%T(70A==G3LI$O^5ESR4[N^)3C">($ECR]Y?)>G MVUGO5$$?X5_;J+9[IB/\:P'^G9]H MK3_"OYU+,MWVFP>3A^48)H\Y>$(70A="%T(70A="%T M:>>QDV[[6W';3^WZS!9%\N62+Y?:]>V)#!/R$?(1\FWH%HO:51DOR81_A'^$ M?X1_!X9_<]TI\L.&=GW; MM:M7O:/>B8:+2@L>G)4:&*A[=#_F;!1X7O#D^@^5Q<@>B"&W`]]V/9A3C&4- MX0^/W$_$KRR&QZ=AX"1V'#'+=UC$PT?7YE%EJ&`TXB%WV'`F'GD=3*:6/V,O M7!]^#Y(('HU>'FNY1PY1J?&+3I^J5W'QBYC"*L)JU>A`[5*VCU6][N]WA*G78)?,T2&H(.@PR#H M:$A9(^@P1V368KFM&AE#T2WE9J;"AZ/##%9R['R_X.)\;:)$;8.H;1"U#2*! M(($@@6AST.V%)@WTP*T-A1/RGZX];L=AX+MVDU?6Q>/$R+(YLZ*(3X:>V[XV M6GL"U?N25F)"$(5AZ22#3N_\Q.3X"+/"<`P-_2*<(9PQ&V?ZG%,&XWG MY0NED.&\>=]K0%-6&.V^4Q.:)-,YVO_ M`8;D89%$7)]4GAI$-.TS MF'?A;UY+QN?!&]U>IO:LW0 MFVM@PU;S(<$>P9YQE-L/V.MIRVT2[+7\/+%M!_Q<;*6>)=HB=UBO4\^FC$66 MU[[\R?4P@?'RN3$-2R6M]["D]6GG[-SHH/,#+FE-^$?X1_BW:?SK75!)?S,E M>>Y)0WZH*>G_XW=)=/1@6=/O[_C#A/OQ+9\&(09=OW$CVPNB).3W_$O\"HWV MG](1?\R>28N9_6J%H>7',\TCS(;UP"^W?/2WO]C=_[R%U?<^6C.L-'H?#'H_ M)Q[^^)>?##@RJ,1:LX@#&KL-7![K[B(V]].O5[>W5Y_N?VMV M%I1.(@6S&+!'S]FD]?5_.-5`SBK]'])N#/753,/@T75@,A;SW`D<]QWVE`H5 M&P4A_'G*0S=P6#!B@<_9C%LA&X$L89.'ZFG2L6*.7[28G40`GCR4>W_1[YW_ M$&&;">X"'L(WW#C*FTIT&+P'QJZ)0^E=0-D(CKJ>A>G-\DTXOPC>4A_0\IWJ MW+"Q)^QS%&1+AB\QP`VQ%V!+#M7G6'R-;KE:> M[C-"96-DFZ'2!M;F.U:8S\3E2*\_$S?DI78:<5`C4\BGEALB$>$G#XLG.7S$ M[=A]5!MWQ*#W`!.C.)US>4K9`N0HH\1W2NLJ334C06TB@B1-)-"N.IU>3O[J MIGFN-70]%_8%)H75HR(&XF(]<%08I9&&'%8&_[D3R8-:3A^*-B+%H+!,6'(Z MB=IRBIW0KNEC/A&@=\S#"'GJQ]9K@>J*V(O M7)`=?_:RP\9NA!G]ML*"V2#\"THD]VTN^)P%>'4,.Q6&,!5OQJQ'&$XLE".; M^[@E31?+!+=ZN#W[2KB=WVYG"GL->Q4Q$"/_`68F6N3H):0J&1K9Z*"?UAXS M%P>RO03Q#$:T;#M,X$?D%S^"MP2^@MD%2WH6L`B+QIS'4:5;CZX0;#&%.W1=RIWX]>W<9OM0E)&$U8?4J=*"F&[O':NK7TRJ1(>@@ MZ#`(.JA?C_$BLX[P,2I_M,O(L%]+GJ/JJ]$%%3[RW/]CQ6S('US?QRJBP2CU M^C,,=M8IF)'NS*4K^4%:?/;TYO4;1Y:25DIQ-@79652BJ%A2NM4YQ(BE45F ML8D"14C38J1IR*(BL#'<[G3'\6`0I8K"JUIXVV)@^L*M2*ORQ M`UW9ML(?+_3]'R[."'L M,U"*YYX_Y(=SJQXMKF#T$X[WXW=?AJ$GZQ_]?U!+`P04````"``=2"8_3[`I M,K$)``"2;0``%0`<`&5S>7,M,C`Q,3`W,S%?8V%L+GAM;%54"0`#BAEF3HH9 M9DYU>`L``00E#@``!#D!``#M76USVK@6_GYG]C_X9K_<.QEJ"$T3,DEF"'G9 MI$F@$-*T.SL[QCX$-49R))N7_OJ5C$EL\!M@8>B]_5)JC)[CYY'..3J2W.-_ M%PK*%6"@F@V&TADKJ/8?N_]?I:#42-]JZ4BYQC;_5K?1`/@U/`#*_\V_[]FV M=:2JP^'P@\YO93JBP(A#=6#B@E(HG"KBSV__.A8@-0H"XDBYI$AI@:44]Y12 MY:A<.?KX46D_U)2]8JDT^1'_A8GP2T=CH(SZ)F8G.SZP48>:'PA]5O>*Q;(Z MO7%G7*I6*ZG[[=BM#83?R9DOJT]UM2^]!7RL@S&P-ZP*` MH2/F7KPENF8C@E/8I43>(?Y5F-Y6$)<*I;U"N?1AQ(R=TPESBG),B0E-Z"JN MZ4?VV(*3'8;ZEBDLPPP0><_T@FUA(2J^%Z-:T$]E6#FF68*PEL]@&5L#/Q< M/OIK&>I!=U`N+:37_?I:0?*XM-8B@AU`!ZLE/:48:`GGNV M^#@='@L37B/,KG>O"#%8BYB&#,)G(3:=\#E*/,+WW@DOE-X]YN)]'$Q^^7D2 MK,TJ-JI&'V'$;!ZZ>6R^&%F`&4CI^NF0U6F\7^+AFL"`:]'CC9_S/FL22W@L MB<\4#^@;%WGTM,6D]G?"!!ZC?,!*/9)CW6GT!6S^67XO#$-[#QO;I58<@?/> MH[32",O!;Z1P&%LI6^)//.W*66E7M\3\C!L[R>AN>1R2H5<83,Z>,.;)`XKX M0W.$D]O\ITC;(Z,3B^6ZUSW!)&BA1*<0#;;"$]3M'M"U/D8"8N[):B(9_HZ7 M1%_\B%I,*K>&H9]TS!5BY>'?[U'=@]PK\9\%M$UBDE1JW3?']FG$>W MR4&J@%<(BUH)583_09J2_>9\#K]$);B*VO'ZDQ)_51VH3VPY+#T^*XR!C:K.92ZBS/9 M=X4@P"H34K&.P4>.^$N,EX%FBC%2M6L:I6,^`!\UTY&2VJ4#SCMPARH9J!6G MXR]+EU/5=>)PD";HP`$[IE@5D-G9XO#R=SZ)$L7S%179EXP&`]XHH6-)2U>! M]C=^;`39B"BE+<5S@X*E(<.+)A+[?CA0OC6H1-XCV/$$^)A5+?,3OPM-V(A<]UN2XS,'F0;/4YB8/O4M2@;N#A,FK;O$`VZ= M*@G\9;WV=Z?I/82!CMV=&B M?2`[4;)=<)ED;O+J.1LQKP@5))C>)N<@FV5^?/_+?'L.(<80F::4?3C3MC>9 M[G<"LMX]9R$8@O=8_NO/)]UR1M_P M?L7X>3!X_C;&[7-G>'5`*P>?]WZT'\;,/!CH/XOFC7W8KMTVC&_?S?(^?NK4 M:^?7XZN'UWM&;?K'>#Q\?6@>.)W>WK?2Y<7!UV_M+UKQ\%/U7G^HWA;KZLMW M$\-5I;V/<;=<*^_??#ELUEZ:I1MC#$6SC:]>R[O?6^KGL?/Y9?=I=+,+P_%C MY>M!K[%K/=Z_%@<_KHWG2A5NKQX?=\^:GYRG_9=V73U4+RZ&PTK_N_I:=5YV MAS>]9J7QI34\.?E+J;6:WAFG%6KX#6TL"M)KJ-[/(.6=$T;WTK#2_2Q-&2^G M4`>,]0R;:+#A$:A5=?"O^\G4)`=LN7<+8BL["EHLO!#\_`.V? M0T=FN3\,)N?J8#HE0OG)-KUJV41_Z1&3M\DFNUQD*!""LDKRWJ#>&HC;KK1] M!6$P>1\"BI1K9M5NGI]LC_G42+]/L%S^YS!R/AN2BOMY8K*N"E0-`PE3-;.A M(>ZF:YJ%;,WT`4L):\FH6S$VTK`7&>:6/,9H:PB#<:%1["[O^&N27:3+V>*7 M`G4K]$K#7K8AT1>;J]A83X!,Q-R@258L*8'T)3JSSV2ZY=L)X8.26R5*Q-Q& MH9*)S#J&^3-;N8)%(&VC3%&D)=?&M^4)P^Z*<.[Y;.I^>U?+"@1N%, MX]:(-W&J\<.9 M'.ZZ)-2_,T3.E#H*+/=*\6H:Q;"8[53-M8_QACG..7$Z=M-M M>QB*)S/+G>73^<8:3SPF0>9;6ES5)2;0Z6GW*:-E&XY#@0?% M^BI_HGK7=_G]Q)2<734K6;3=$7%5.;S><9#=UJI9>V;6WM?3`V9!M]T]IZ#5 M4_(PH]/H\W`SZ_5K$W(6=YN]=3IB/2DK&;GL*PUA,;NLXW/$+,+<)9!Z5]XV MY'C`G%<>5A,P@6W^ MU`^XU0,Q@S]V%^V:MMY0L[ M^9-7;3X,?862B39V3Y4^D*K^ZB`*:SV(M@#ZAG;BF+X0**8L0/-\P7^%`!-A M]B7"&M;SZL)AZ"M5_70`PWTSE[MB6+?<]WI=C(#JB(&4D_[)H!L[P8S1?J;^ MET1KEDM33;"\,5+OWA,;9%8'(K$V,_])*5@T@QG_+P-^(/\F!-E2!;!^&:F" M#,ZO8*TD5?A+Q!I`D7AS83"QDK)G=Q'\G"5=AJN9=?O4:>X&OB)5TN.')D@) MKT;[A1X_U"'$O18D=!/3\=O_%>;>]0]02P,$%`````@`'4@F/_*(YVDC$P`` M,#`!`!4`'`!E2SLB2[7/C6#Z_ MDK33R4`D)+&A``4@;2M__0%\2`1%4GP`?+3LE[@2M;O\+8!]8+%X^Z]NMW,! M$23`@GIGLNH8PW];B_]TNITA7BSO-*-SB2SVK6893Y!]AIX@8?_/OI];UO)- MK_?\_/RCQAZEFD$@Q3;1(.4?=+K=7SK\OW_^XRUG,B20LWC3.2=&YPXN._V# MSO[)F\.3-S_]U'FX'W8.^OO[[H_8+TP#?9T`"CLO"Q/1=WL!9B\38OZ(R:QW MT.\?]OP']]PGW[SP#X3GGP^=I_=/3DYZSK?K1ZD1]2`CN]_[].'J3IO#!>@: MB%H`:9P!-=Y0Y\,KK`'+P"B%7)W8)_C_=?W'NORC[OY!]W#_QQ>JKT5DS^C6 MFDV0P%'/_7+/`:S3>4NP"6_AM..\XQMKM83O]JBQ6)I<=.>S.8'3=WN0KFB7 M@]T_=IG]P#_YPE1+L6GH7$F7B"D0WEGL[P5$UEZ'TWZXO5P+`DVHL1]IF"RY MKGO\^UX2A=XO'?EBG@*3:^9N#F$>&86?]Q3`&&3PY080!L0<6H8&3%I0W#`U M6=+?S1G=.39U2.C9-]NP5O>,Q`$FARD%3B#`9)0-\!#0^;F)GW.@N?ZI,S*E M2':-+9A2$N=164KCQ/H9&/"+XHV'=`/& M^\V4X$4:O5@X'@A,F'_^;H_9*78I-!SCSP[9BR-]I$`%B MX,&+H7;$"(PV8LM50^0BFJ@68>1%JD1$:*V9]?*0'7N/X`.B2Z@94P/J(\]` M*<`_EMG&GDE7P[;E3=1!U!@45!$/6%`='J!L4[OL*FK M`#O,H@E@;\'B@7U0".P+@BF](7AJ*!G50?+*5A-9"`M8>.@>9E[%W9PH--EG M,W>3Q&1Q\4!?L%>F%@%\3^3L9HJ,@`#4Z7'5"*7FE>P^N* MR5A\`.0KM-C?"G65P*V"Q4N6GI(P%`QV/@.2+)D2H[*#98-UM1--P>@7F5(5 MZ"TE9W&]J)GERHJBIZ^C`K'Y>,D++1@S-S5WQ9P4%=J)8E.%>\M(?G<>Z,AE,.!*E*/RO,HIJ0+M7H M"8[?+60D)//&UAR2:XRP.#<4@K^#8T-TL0LW,;N12S6E:J5N"LFVLN]6Q.M" MH<7&8)PSZ888,48VX^59%(SH*9QB`MWG[L$+I!\,A(FSO>U.6F;V12IN]=(' M:,TQ^^:)/<)?4XFY+E/\&F<2*M&F-_Y.\COA:S&\,7W*_$A%*;@X5HUPLV-Q M\M?B?I%DT#6TU/K4(H-&(!["Q,J.M:P%?#!'8$^0F,V9Y0&3\POF,$A7BPP[JU=H+<]L;XT4+*KK/!4.%F5>W.C+3EM2TYS M(-^6G+8EIW_GDM,!I="**4>2HX$0A_KNA<5!4J2.U#V$:A-^_C8)ZKCCJY&_ MK#"0B'Z'=1`1\Z8A7S)?<2B@O."(_\/3LT_`Y"G9@34$A*R8,_,(3%N)"4W' MN#JW,7%T"76DZ1`4E)5O3=$T;#/2MU"#C`TS,-?0\L14LL(D\:LR"9):-`3-QJ"R!0?_#<$+H&A>]L6"D=]-*,J;4-& MY&.0"H[V7!H8P2EDM/1[\.+./+6K3Q*[1LV$1-R*EQ^Z-%6:`8%!Q7MN6<$/ MH1,\A)#'Y;PAO(3"6O&#^FH;)D].4EZ5L5@2_.1$;-0YHZ,"Y62&58:KP7$51'H' M1%(R]Q^`-F=!,A'4KTP'"=PJ=&CB\$_"IOBY"G_>W9C`;:RB'/T='*NM&8Q3 MPBZ8@@Y+WBC67M@FWZ$8P26!FN%L7K._3>B\/]('"TPLX[OS>:P\BB)>.;)5 MZJ#&J58>\@7JI,I]V3='= MO+MXIBCWB0R`9@9SFM=!WMF+9MKI,,QJ+'\1SH\#AAIZJ+G M:$8-4D@,4L$C807R%NH2%DW"V,>B\+FP*P-,#).]*N1!S)V%M:]"'UB5&Y*I M>3?AL$QZ(`MU#0EN9P19YMC,C/IYE4%>QI$8WNN,1$-*".Y/SANPXC.SA`VT M$*?*]S031EK4[ED8*"D[F<2&>D`.M5J(85;M0I0\#D.*B(-+1@F`1SYPDDN] M-B*8-4P;47#):(UVA='L'I+%"$Y4;J]%L:DR*9L>_TB`1"M#5[Q/>;@E%.KEAA.35%&'%!"PC1G9769 ML5QR]%;OT"U%L):]"6&@N,:=;@X79<6146RJK?!-$[\E@E0\:O!.[B@%?HM' MI<,]"^C;Z,CP1@>Z[KPR,&^`P7S>(5@:%C`#S)0$";NY5CD;X@:B$"6D`*[X ME+B%%A,6ZO[Q7F&+;VIH:CI@I.!:=_6D`:YXS<'V#"['6%>]Y99&`U'8%"XN MV)5UK"+O776WGRQ&9#=^4>GNJD^WAB_B:P^[MH==V\.N[6'7]K!K28==31,_ M\]7X'),1MB?6U#:WM\!5;BID$J`)^\\9(95R3X@8MC.;.B:.L+KCP_F=@]2G M.V(Y-Z+?6UH4)>Q8B*S!%!N%1!G39B.#5C3L3!).56 MYT@IU-P>'VL9U.\SI;H[OI!QV+X_OJVK*:$`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`V*,.8L0L41O(8I[3;R%C+K+`F_AJU4X)^9,\G^X0_D$3#YHW),1 MX4A,&I"U2(IB_F9RS M(MS9RZ5[5@.8(X-J)J8V@>.IOU):*9.3GH=N;<]XY4=*0I^Y2V1! MP@(R?I),60I79%%AL5Z!\1BZ.5X$34I+'&%'3:$VMKA4Z8Y+T\@V=MOEK66= M:>1Q7'LU2'N$L3W"V!YA;(\PEG0UR)C,`/)*XS>'RCD.2+]AUIJ;&+=2UPLJ M@;F6FVY,#[^,RI@A)IO&MQS<<@C>GX'1TUCX><\F[ZFIZ#;"TM^A`9%*^7K= MRN&5Z3?TV^8'K>?0>@ZMY]!Z#F5Y#J>`&G0\W=@$%4K89M(`VQN!3+7&L=_V MS&_-8VL>6_/8FL?2S.,%QOJS89HL@KIDL1::&6P\N`7.F_!*:5B<48+:[O3D M131<'E>NR?5L;FMT6Z/;&MW6Z+9&MPRCZQ^G795D8A/Y-:*!>S)BU6X&]UTK MVEK0UH*V%K2UH*T%+<&""M5$0D-TT^DUCJE%-RT+UR?/5!K9HB(UP@X7QKUZ M4]UOB[=:8]T:Z]98M\:Z)&/M7Z5X`XEC&Y2:X7AF=3[3FP*J4-NM:FQG6\#4 M6L_6>K;6L[6>Y86Z<&*5E">.8]6,T#0.IQJ$G&UI4VLX6\/9&L[6<)9H.._< MB70+E_Q:#30KR8BF8=N$4#05?/4(2MLJIM:^MO:UM:^M?2W3OMX0K-N:]1$0 M`I!55BU3"J[U;ZJ4!KJ(:Q;*LJPCK-G\'7A/5F09UBK0J.-O4>FD0^.+^^:W M<&;PSB3(N@:+!#M+H?;C##\Q!1FNM.R/L)"Q5.L[8..!R+U\<)+^`+MGSQ7' M5*!6V_,!V^]=X(I&3FQH$\)HG;/%`YB?(2!G2!\Q"8H#&DNYUHG`9$Q"%\SF M70^&>+'`R.D/ZFS0T;%M40L@/?%D:;;5(9%'[560!J?0E8AYE7%C3TQ#.S\N]`SNPB4(T@U M8BR3+\W-C&B0:KU]AV@@@EU"\Z[#C"8!YB5S;%_>PY6TI3=$MLZ)N@0P\G?V M#!!U3>DZ_\>%L1.<]HQ`1U.O^3*1C(S8L3,O[H_8M)$%R.K<,"&1!GB8;#-& M]A88'L8G14:V0VO(!)AA(FWE$(DVQ$L+(>$')/F".I?D1VB:[Q%^1G<04(R@ M?DFIO9&S*,QQY!L">"PZ/O39;TD)QI5N6VYI<6`TV;JO'#%@^`CGN2<@2'83 M6YZS3R2LSW&$:VX+8_'P@YSF M!%#H//A_4$L#!!0````(`!U()C_W]X5``"0``)G&`0`5`!P`97-Y&UL550)``.*&69.BAEF3G5X"P`!!"4.```$.0$``.4]^W/; M-M*_?S/?_X!K;VZ2J5W+<=+$Z6-&?N7<.I;/LI/F,IT.14(R:XI42(OO,?8(C^1K_?Q?'J[=[>X^/CMS9J&MEN"*-@'=HP MPE^`W=V?`/[?___?#QC)<0@QBK?@+'3!%*[`Z`78/WQ[W,,7HSV M]Y-.J(?G^OGYT8]?%9`]S4+OVR!<[+T8C0[VLH9?)2W?/N$O2NT? M#TCK_&.[A_GL^7.#)QU@.,9;][S"6K].O+ZP9]+X"N.7M M]3ES4(N$*5^W1[!7&A4FNS2N;`&I3!9:C!%,.=CM=/SN MS3RR5A!$?X$`^KNWTZ]^RD&"(DRP!0J".=B"!<]RP,]_V".T_52:@7%89JX5 MVME(T$?!%*0M]NP`+=%5O.L5)V(>!LL.Q2(.NIK4O9^ZE0&O+_:/NN4_^)P! M_RT7!?`_+@PCHA24%-TZVEU8UNKWJ>7!Z!H^0'\-+V%,W0_(#,VM:$:F*>VY MA]7:'O3B*/N&*+K=T7ZZ_WS-0M&#`J,)+P,]0R.15@6!TBM2`FY@0>$-IS'W MCX,HGLS?!8$330//Z8/[512:N5]!S]R/HABKG%48.&L;J1^T"ATC.XV`,T5) MH`VML22\"X,HN@J#N=N+#BB"[WKGBH/8\FC6"P4Y@_^D!5A:X<+U#>TJ'$84 MF5X=RUY#&W<*/?3=(CFV>6/?&3M+UW?QGH)/::=/*[PA14IFK2K,O>H<]VS( M*M+'VBD2*#M@D<`!EN\`JP0)P!34V^*.HMU&:,$*6[4ICCXV&S["XA;9N_G! M)86A8+(^1`R=;:],!HW:)5+,+&Y8XAFHJ`RUXTLBR`CX>RN\AS'ZW*-@<;#I M.(Z+R>!O642@EEF7FC@9._0(>5@Z__`'W\`>RDTKOC;LQ2P6H-0I50):6):S M<,LT+E^2?"U9V1)ST4+2Y+;?'C68A-QU[V06'=/D:&/(X0V&#B(%2\[P.4]- M!B@:4%I&&XEHZG'T%^>^'2SA!3IU]B&/-#2=&VA"R:-0P1"SO"5P25/CRHW# MIZ+,L$;8Q/8B)X@SU[=\V[6\5-R4'`7,SMVSGNL08-'!8'[>/-,A9H_W(A;D MISWN,#7Y8X6$T`[F]0D?Q.F[DXD?M3KWD(`*&/5YBJZBZ%)0:&$`4@-EK,RL M%<7F-*&4&=PI*F3:N!H[[R?Q'0PO`S\H:_D>A4.`4?,E#Y\:UE:..V4"LP-\ M&!N6&CDNEG9U\;@;RY16<=(J24)S4%62DK/'O+I9&18G)4GJ28BVUN89HNTX M\!'\-4*QC6),I2'2^*4,Y_7.-?GX/X[L`_?*` MFI`@B7ZV0'WD]W`9)I)SC<-CK)Q+&*<'*3`CJ+*_8NMI(,O(@`B7[02]/&IZ MR9/C3_7&$?1A3[$$+%2ZKAX%=#!-5*9@FQ-K)K_J(D@?9W,'$UKZ_;J6R@B, M>#1+)`A5H&E[@<:0DHU0&XTZ]\FQ.`=T!F#],#)4L3S1LEY,]`0I-[ M9=:HS;W7J17ZR':),AQ'5N3:?>A^.B*=MZE4"A@+G_P&GKD^.`D\SPJCK7P] M-^5AEF)9<7=@#[A#@3EQO74,>XE39J'2;54RZ&"(3OJK6'B&(#L5[O&DISCJ MAE;&1^@N[O!#B0=T4EK`XV"Y#'P"/)JL8_P@S\%Q)"KVAB)(O9:'&G$,>Z!A.ET4)1IXYFJRCP<2!6BW:FMK)D*N@N MU\L9#"?S&L+>+!PU`G2^&6U$H=`R2KH5=C03&UHCKA>W.?4Y:>QZ9Z!*-]8: M1HTRRB1!XWN0AB1*6&%501V0G(IX+R&IW(E1]1VSW[X>61[.ES"]@S".?EY[ MFX-]+&,=OK:7QJ#7B&M%J]IC^Q0J2,""9Q@P.-C?29)H#/;!O:IH\!]9*TVM M1BNP-;$*K^YE!6$@AN+`I**5&3F.(H2!KLVZV8,K&/0%6-()8*BH\71Z>C,U M'DQ+9T=Q6Z2,1K>#J$X";:TG,TI=LE_*S*J_.$Q6]#H,H1_SEA;+4*#VU&P` MT&A@;>Q)6V"1QF^-*F7>I&^5+7-P.K=6%A'4+;,\Q?0M\,N;[U:;UK$5X=>< M^!\<2?)@>3AZ9!P?6V&X06>!#Y:W[B5*4`ZQ'E%2HHFU?E$G\D+)QA_@MKM9 M7:W$WU)"$NFY:!IE-+;M8(U@7D,;(O@S#Z?`2:6\%^N)AT_[QL\AAF57I5U` MF/?9`1Z,(F!Y7O"(C5R2:NOO^R]?$TE$'U[NH-;1"I)LC=[&O%$FP?.2(2&: MIN8Q2SA8SD<_;WK*E%6"KU>/%5$S(]B2)BZ,AA`N3V-&.6RM,J*F2N8@N3Z`3.(0+DW%A/B;'5 M[[;$0Z=7;7`H8?G*TQXX$K8@-"9D1H)K1BW;6!3FJ787X_4V\0?8SMIU)DAPEYP470"\\Y_HQ>.0P M-Y2D"S%$8=;)J%M#ABOY:5LX9"V9IZ1(H;DZ&-,_&)='I[P8M3@%7*`)ZD-- M$[A:LY-AC(S%B'\RK'R+\US4N3G5;1[0'ZU=#U]<1_AUU'(5!@])KF627[,/ M[O(1:F4[EQ16)$[:AV@'M]#)=("R%".+XB,>?1NY>F_9=ZX/PY+FZ4VH.-AT M'AO99#"D*6]DW+LDYE=1=@0#;7&"S#:L*S1/L1;9$6`T\?">3Q+WV+"B6B\[ M8(%[&IZ6W13"J6@<&CBV[?5R[>%(AQ.X"J'MDF<^Z+,'R7L?WQDO@S!V M_R+?,TGIR>/>#6T=^D'DL]5T13W;G9^!!TX!ONE3CS3W`#*@] MW0-P\1GQW_`H:J27B_<'@]+(C-L$X00T/T_B"@Z/KN?U(4DY;-V7E1EB5MK8 M]&>C,E"=^%(&V"+];6X,8S1L=^;!W&5\^F1[:WP`Z9/O4GAU'A%D"&(G=TN[ MID[A8=P^RC.VDO=-;AY:G"5(6K`4/!I)?Q<+=$0ZQ8I*`3?AVW!$B,NF6IHW MZB!;AQ[W=]VDO\Q/@I=KC0SH4HE]F]26LQ>N-7,]-W8A=G%-X\"^OPL\!X91 MDOBISW!S:=PF7B3*$L=RB9^/C\XOSF_.3Z=@?'D"IC>3XU_^.;DX.;V>_L-: M!='WX/1?M^P%F?T=$T-'H/*W4"!);DTHK7(5FG M^#6.A_KO(IMU"1P$P;CH<-A6.G,P1MTFFD;/!L7'LZ1 ME2N+`NQ^7=]"G`:2&8EH^J)>9'`YR7B6P1YU4T.YJ-3Z%2@&)KT' M*CH1+']H:9M*WY7:M1W-K#>4RS_6]M61\.AUO?.=[7HUD;)OO=@A]<="TN^M MV6>%:FY7"8^YQL6L[B5G9R@$L-\$ MI[9$A)ON@+]_.]I'9^`0/.!>.^#5SF@TPO]EF6BM=7P7A.Y?T/D>N%&$W2TX M4JR0H!;\X^LW+_;WOP=^X)NMF<+A=^6%,76ZVHA:FL^V5SFKX=`9R%%%SLQE MF*0QIDO7_JB%>!WLO'YSN#/:?P&L&)1SX.$NXU7H>N!@E'QE.$,+0QI*R5AH M$]KF:L%Q7!QA:WE7ENN<^\?6RD6GT`*:7IR`8JQ:5:&8'I8O.>\(M&:5'A"0SJ:+1,@SN2A]DI/21OKJEJ.>4YL9WV.=#J[O,6*=%(9W.I`[ M%;1T08H";GIV6]-Q&B@I*J*)*U0%1S8QN08K9++<5@G):G>?GV5S.PO"DV`] MB^=KKYX'K<_+6B4"=%_@JA"GDDDO3Z)7K+]D>D-M)`LERTYYNAK?")>/RE=6 M.`FG,=[$R9$E*P;5OU.%B5GWLRDYLF2]+_G16%@?S+P[1<1\MH>%.TO-M_0R MDJ3BQ3AW)_0ODS6,FK4FGQI9$:SY84SOW7)L94L;=2(Z4H`)['/BI](E8"DV MS5DF&60H2E7BT1N03YC&0)$H%4;>*G]('7+/Y9U$*$V+E+AN$TNN"N[AP0F7 MH&Z3S$2TR?V^=>_IM-9DT&K>'B5(DKK#D+;1#%\TJ-AGLG/3>-LL(-!AF/'0 M:2XWP*9$2MIXYIAA`9,QQ43#;^H_J<'MSP9CH=)]TF30H2)%%?/+E$4O8!Y7 M?JK&5S?2T[/AQ<5G7([$9A=5F&@VUV`D2F!T">>@Z0M;6G$ZLIF2C)63>=V- MW$NQS.8H]2>>[G8`:B4UMVCP,PY*-%V"KUIB<5VOM3F4NHJMA8U?:+$=7_3E MT^Z>>(7ZG*VE:CB/I+\T$1OU8-ZCHYT;8++"6/U"GB8V:;72H05*R]^[5Y^\ M=SC-ISXW7R>=GGV92?X"XQOVVWA^^CX7U0]#1E:=^"B4E4NF%7LW(Q*"0P_M MI&-@J56HX&@RZM1^"3,[TAL9>`GCY(GV19H2FC:GJ!%P22O3-V\E2_#99X?C5Z/0)AK8;]:35E(G0*D'*Y+'R^:>_ M8P.5'.M!D'0T+7.-A:"VFRK/4NO8TSK&1-^8%EX>%2;2^JF3J2K%`]KK&PN& MA$"+9JQYWACGCW44DT/83EOB?#LDG_LU#OB,T+%L"L,'UX8) MH=?0#A8^@=+;:ZC>:=9Y/=[W8%BO>C'(70(3V`6@648ETY&2FL2R_&Q&`R<: M6$UR#A1`(6/+NEN86'Z+432X6\ MBTXPK9J"/+J@M;&'ERX#5"?N_[(L-'N[GV#.`)^AD4U6,$0*UE^,<<7[!GEL M98'IM(V5*&,IK*T<8@D`.02P!?'6U`&O$1^WHJ^J9 MS^=S'"`.\".L!`LNXY&Z-_'W^"\;KX)5B@O,-B#(EX%%UUOZY;\7$(J5)/L0F1)\O0'B1=3,?)_4RJ&&$G[6.5%.[ED9 M3N,7\KGJ.@O"8L70?GW'562Z7[ZS"&&9684F9B\ZA/RB.U5IPTQ.`3_\;7<7 M?/[X_L/!;Y]_M5?KIT_^JT/GK];"+O]8/] MU\C[.7YS>WQQY7SZMW?PRO]U-CD^.=^\N_GS,@KC\)^;S>.?-]>OU[.[%Y_V MSTY??_QT^R]K].:[\:5],[X83?;N_^WY\-WA[2O?GQ\<'[SZ^5]OKH_OK_=_ M=C9PY-WZ[_X\^.;?T[U?-NM?[K_Y]>GG;^#CYL/AQ]=W5]^L/ES^.7KXX]Q9 M'([AQ;L/'[XYNOYN_>NK^]O)WIN]A_']_<]_W']C>18\>/WR^O#EZ^/IXX\_ M_@:.I]>[N\T?HZ)M.T+31GGXW\+3__*>30SS^6#:!E@>]@[G-92-AR)*,;544U-[8&]^)WJ'Y@M&YOSW*$GD=^T[CRG=J M(#57PU,BCG5UD`!!4E5TEA`X)+,7O7*>?C=T(]YNG='J4Z6SP)XR==0[!05. M#B!)N!FVMHI314HKA%8$3V#R[[E?3[;5Q^8EA;Q>IL+; MJZFC;F-\T MZ'GYN+1TY26,)_/"U[H5G!)%>OVV[8@55B(<3!W";L1$)-:*,]?4J MO?MVAK0/UYG$Y920,-7"O,.03P9+Y;;KXLB;N\^H\"L%7K6)6A5OU\?3II)6 MH4NUIN]@]"&;M4*1HTU!IQ;B)+Z#87XL2L/5D7+5(WQ,[!UNU6V,1Q9]#%$D MS8\Z60.P=-]]E:6,EMA)U]E."2/@11`;N!C/ORU#'$\%(VQ,GP:QUU M(:B\+5:9)E5)K0>GXK-5U%58.0^8V;!R#F628>4YA&&&E4OPD1Z=+)H9,V'E M`JIDPLJI#!M>6'E?C&L05I[?L%N;[.6?_>?:#2%21T@!Q9LK-.'QV'=.L\O= M7L(MY+$;,:CDZ6/%8R"B[I`50EY1K=+.Y):">FEN)"9#60)*$1IJ,]2QN459 M%QK-+1KVX9A;%.I$YM:S=43NW9^C_S*%2C&V!F1J<01`PM1B35%[4^O,]2W? M[LC4X@$S:VIQ*),TM7((PS2U)/A(W[%%,V/&U!)0)6-J41DV/%.K+\:U,+6N MX2K=+"?SRR"&?7KDF;A,W&FRB&'&L+J(`2M2EG:3/D'W@8\Z9NYX_`QJ9OGW MQNN$\AE:K@[*F8-V%=\#&T*'R*ZV-$QBI`9BI?D4L0.F2;]$N4%QTC!#8=-R M/*[$3DO,2/,;H*)$7P3^X@:&RQ,XZZD`,@.7:756)$9)G7FHXRZRM);`05W- MBI>(DRP]5AM\&SW&,-$IV['&$QX-^W!.>!3JY$]X\]R.&_8)CR,`$B<\UA0U MKLJ"<(Q]!_^#'1L/EH>70I+WJGKSU(><*N'O/C^52%!5R..(ZC,G;8,=$I0G;,^3"O)7-1T6L=HZ87A!JVR/-\;\R1) M8Q^P8C"#"]?WL3K"CE)"C=E-46JH\ORDSE'G"U0J[;4T@;2D\UPF0O0]A7W_ MK0S<;YC-9[I>K3R24AB32M@IE[@[EG8]!5K=\\8,6 M+HQBG/2UM^"Y,@K->2*+R#,O*\_1Q%V1+#>TELZG@2@8?*T&4M$EH M6#-P$BXL/TU_LDVLBM67[UPA_F%-E[R[3X_KEK?-N;K5@*CUU%WX[MRU<6A! M$LZ.,\4C>#8ZV-_`I_@(D7&O9#09(TYGWF!3@V2=\?%=SC[8!9=6G&[K:=0C MKFR`3Q?3]7)IA1M276Z+$6Q1@@RGR?J$I@4[-QF,\K>I+TTWT7UL6-K'H/<) MH.[AL9XE%,C8`25"B+8HDH)51DY,,8UYX1A!-`Q?K8#/F"A`J#)7HM+T4BG: M!$9DH5$DUI$5N=%DOH7=S#*0`*.OW*N8&-Y>^P+MM00"7AU%9IF+UI%G4K[+ M2T8=B5ZE7L//K"J9"DQ!/;*TH@FER&1646O1!]M(K;P+`N?1 M]3RDP=#1&LV4._-@DH=EJ]Z:J9J&H/6IGV8$\E32`5))6U!@O,W?D^$RFP^] M';=SG=5BXEKH,36L?2@Y10ITIJ53(XTAPQD0(K%U.2X8FX,R))L)1BECHOKL M-9,89@SX%2XDZM#Z;&WR4S!1M&/SYJ# M3[_WFDV,('O41JBTS/BKQ=PL>ZX%$]#0AUVZB"N50/1PO.AQ$,71MBQ`_BJN MD;KJ"I)4RO$ M(8PX>)-@:*;^Q5"TUKX2DL-3V]_A2SX8@S3MWS.<:_TY0*`2R32GN:59E>MD MN7EH'&#!!-^'&F4CTQR5PR2$(519^ZT(#<=4%7*PJ*7X`V\65XK?X;0]*HM@ MZ+,I^83PE,YKI'2N/.@LT*:7>"9V`'ES"=)'E\1I@U\O[>+G2^"D]`++A+-1 MDG-;^U!B?*!2K8(VYH_DSA`MM2 MUW"%RUWYB[:Z2`6>5I-(@3">GGJ#S[0)*)##,F<2-6#?-F99<48:FTD2B/K0 M4S)H-9M.$B2QWDY496Z0NDR!TZ7:G)+3TLS$N@H#9VW''ZTPM/RX]<6$`CB- M#SGDJ>)IMT.DW3(0YI2:.L-RG:8X#2V3>`A0]:'4)+!JB3"0IX>=Q`-WS,5- MYOK54!X/2397$GG(3$L;^3L.ELO`)_[U]W`Y@V$?XE9'HC?NJ8:?];"#M$MN M&\#GI*EI/RF30:6'J]0!-BYG;D/?"MW@UH]6T';G+G1.@J7E]E/1G(E,MU7% M(H1E2Z7M=T"A!_B<]#$?[R%D8LETXHZ]N10%G\,=/;B])7.B(=(8642E@ M24[6=@=DK<%GW/XWLXD/N.PJB0MSL"TBU\:.0VJP6AY^>';NI^GZ^]N5^`BU MVC]<4EC%0_(^`'?:=7V0=J-M748$2HJEY=KIHGEH8^OD8HN3.\0;?$48^"3# M0]]JB8I0JX1Q21'KJ:07V':K*2S#*HO'4JKJ8LY#&PF[AC':-*&3W?'TI[P8 MF/3:U70B&-*4-0;Y3=Y`+&P^T\HI\)CC;?2N@"1.SRJ/3Z$?!>&Q%<47%\NO,&L"D0FH!)QV&MG!IK*#+ M0VW`>E-E<6F16)^X"YA^._[VOX<##7*O)]$2@;W&QAZN1N+'R-YKFF!-"I"^ M"!D):E@!#&E7$@B3="ZFTV)DTS(0%Z/`N6UPC.R\Z#63DTBDXW48IL5PJ(LX M#5=*FYD^6)5HIA[5ZX-JX/QQH/M[PJJ""YN$Q463=1S%2$JY;[$C:'^["![V M$)SD[(0^5(],DCATQ9'(D<.*@DQ6;/&B(@WUCD"AMRGI46,G%B>%V=#J+U'- MSTL^%,#L@`00R""!9QFLYZ:OFS3G-!YI]=)_A.[B+H;.^`&&U@)>KK&! M,9F?N-X:?4L5.QIC,S`@A0,20"1G56TM[H`4O%GGON+0:;QM-'MZXPB4:M+1 M6)L_E8D#D,(`&1"T;#&8G<1VHE3Q,Q)9H+&(GV9NLBO97Y.LBUD5'1H?*9H5 M)Y+/`(`M!-.6ELPH::R3GYTF'NW"OHR8'UK>N>_`IU_@IC-;K`)6DWN#28#` MX$H:`](:H.9&CM1"IE0L*LH(![#;UC8*G*G'[FBO);`,JV2E<2MLM+R)TWNB MO7"MF>N1HBJ"8VVAY6#.MG7J:4Q@C5%S6)):`5,:"_`K3'("R6"`V08\N\W* M`=$J:)OFD,Z:KYJ-FA,XATB:G!OKJ2!AEVA.^`LIZP=01U!:5=N^IMDF&AN- M67+SH95%#/E)$Q5WL.1R2,-?#,S?QN&.Y)P87"C5 MDKSBA7*1%R*NI,$PO53:5"+6NU2VV:2*UJ"J]6CXU0=U#%3;CC-:Y?@<;`2, M$1,=S,@SS^K@DK\,3H]'K(:7%2&7M0&XD:'%QISSS"JKCT1W.A:D5M?+-R9+.Q"6[;0ULPZ$W&C9MA61Z>]%G'5CS")[V"8 MWY.D#YXY[D>&DX6`*5XL;:OJE"\+H?%;0ODYD//$\&=0K]$9^$%&2)+X6+"1 M%3ODJ9+3/L^-O<`0#H=J/?+'KMF$/=-R3T4QK_/@)9&T&H`3)J67Z7HI MC4>K7+^S7!\G$[X)VZT"K)G6GQ#`'?*\GZC4W6A)RDM5S833$PZ=U0T+DA, M@^J3T:(I?N9&MN4E-V)GZ#M.3@K5\U$=M#;#@DF"Z.B4=,BN-4D7D^]:A%RJ MGJSH`V[X2"H-04M@?H)6V-EE-Q.RS@=1+")8B=J2YIF(X`[U>V_](B)B4B8A MW-%J5>P%VQ"7Y\7Q&7>!Y\`P2O*C2(1UYK[00K)/4P:+:#@TI2XW!5JY,BG; M47C+83%B4K,>R89K^/A-&0!MZIGCU'S=G>(^0V,X#G"MV#6B*24N\*,C.`]" MF+2[L9Y@]-[U@Y`\+XXA(B0_C._SJ#8>=DNM*SIFN4",%3R78 MT@&VA(`9H23+QI3`!P4$.YD4$#)QC%D<6D'HN+X5;L!Y#)=IO"B"CB;&2^0F M&83A8F_:F,`X5.J5`;W6>XA(N@J#NO2-9_`(O M3]9L&'<2%:+I^I`RKF8AN@FCKM8SS[7/O,"*NUIA19"Z;OYJF/G+*FD(2$MS M_G$F!\IKJ3HJO0X[9N@`4?<-8W%)7[.+C3\NVMJ3F8DV2Y&HRF-TVEP$86>O M>'G+TK2%&1M#;_CI3*CO"[K0VL5=[%U.O3B8MP"UA=_QZ!`TK]( MG$+ M`W!EE1\R&GL))?0;L4;?*@O61^AYO_C!HS^%5A3XT"%7/IP,PFIJF@5>O\)F M4,)7W;C3[CWN!;)NR>U=:-#I*\6XLDKG#=Y\AI5P#9V"4U3]M0<&4(PZ,.U0 MD!FE7*@!:W;:N2"NX8+$=?GQI;7LX$:'"E7;?1\-.W]9;]L"W-CX6J;SH[R$ M*>,S'DJ$O8P^$C3U15OH.;S%6B!.;I76YJ')I7R:0B>YJRVDF32:P">0S[/*BF2V$/OI-+(3?%!82^E11(,9FJ)W&0O M'ZDF?]H(?";-#)<4I3*$6AAD.ZA.).#"]2&Y>.M5"K98]!\"JR2(!0(W36XC M!U`GC7,M,C`Q,3`W,S%?<')E+GAM;%54"0`#BAEF M3HH99DYU>`L``00E#@``!#D!``#M75USV[B2?=^J_0^ZOB^[E5(DVY-QG$JF M2I9LKQ/'\O@KR=RZE:)(2.:$`A2`E*W\^@5(2B(IDB)`0"!].2_CR')WXW2C M<=#X>O^/=KMU#B#`A@NLUFC1LOO_XT[_M]5N]=%T=FO:K0OHTM^:KCT']#,X M!YC^F_[^T75G[SJ=IZ>GUR;]*C%M#`CRL`D(^Z#5;O_18O_]]W^]9TKZ&#`5 M[UIGV&[=@EFK>]#:/WYW>/SNM]]:]W?]UD%W?S_X(_H7C@U_C`P"6L]3!Y(/ M>Q%ESR/LO$9XTCGH=@\[RR_N!=]\]\P^B'W_Z=#_]O[Q\7''_^WJJ\1.^R(5 MN]_Y^OGRUGP$4Z-M0^(:T&0*B/V.^!]>(M-P;00+V-7*_`;[5WOYM3;[J+U_ MT#[`&C%N^Z>_A)`<_6G'6D] MZ`JYH*`E_E=E.8T)ZW(H[DIN5=6(`32^'1WY26B4""G_B7V4DW@M:$K M-_2$3)`?A&)FR`Y'02OD!.8`F1X;;GO0.H4N3;X7<(SPU*<@!6W*%1&-W1DE M0B#E2IUD!G3XS!^A?!2C6.,@/-AC\JR M`"0TR4>$KL21X7@X8S26&D[NH>%9-OUU;T1<1EZ+CD'B"M9Q7[A!'FE/#&/V M?:7BSA@EHR$$UZ>.8X.,?/X8_F&'-8'B[I+E)WZCVMW]D$;^,T-#AQ?Z#3DT M-,`%_9$HM7:M)1*BB2#MX7@##&PN;:(_QB)TDX.'W^C,?-[5-A]M9Q7<8XRF M M#/=0X#TD,V#:8QM8`S0U;*@$^TQELH3>Z\6Y0[7B*Y,#0 M_(/7D0&?/YP,!Y`;,`?0`U?`51)$"165"9V-\22&>!*82+2TJ-5C@#&P+@,T M,ZWR3?(A%\^T?43+MH`)I)>=^NBNB`8T]&NN05';6-5(EZ/"P M``4G07WUDA(^%=Y-4U.1J7JN'U/A"9WVIJS3N!QV9D,#FK;AA+'#17@S_[C* M/LAN<>B`W\LR6,$^X^]I`40E:TVJT#6/WQ9UT;ZR`8L`"3T.W`3!A%7*+\MQ MT:'["/`5@BC>B16Z;8O&.GAQ&VAR.*B80W?JR^JYD6_HVN[#H]*L0S!]+H?2 M,]JL/H+40H\:N5X+.P%CA$'PO3OC&9#/-D387W<.4@PE5'$IP;:BS\!]1/0W M<_H5?X%-36K>G?F5+CQI\6<8NF\E$.82P4L;$7:F$\KP%16+LU359`J4B53H MPF,M(PAPU4YTX@IJXJH$*LLA7J!Z6&*"LS+B&F!_QVADDQ'79*>0H`JOOA0# M8NDD`2(FH8Q_:F!(4SQ9FGAB$-M4T9_2%6GQ'D^`1GM7!E8R2O1RG#>P'<\% M2M:CLU1I2XRRG+C"3,=\Z`NP)X]LJ]B<,JP)Z*/I%$'?+#+T7';BQ&)+"#Q) MDU-DA=,G+SA+!XHL;)=/I`EKK[SI".#A>,->90F6SP!=4U^QB(]V8$Z@Q;-S MHL0H,RK"I+-A\P[C(M,$35-598&1C;5XQD]6GX--\YWDKOGE.0R%N^ECQ]SX M9\.I^YJC,LE'SUD<[K/8DKB;OK`&X3VYS5[Z>NVEYXTYCLWTS6[Z9C=]LYN^ M$HW9_6[Z'B$TH:2/6')B**&A(DCGE@F3H,CBR'S4P\.L-7D.RJ(4J7^I-6.F MMX)AGM%,+9"OMND;A.TW9?]CZS-SPV%K,CVW;V"\H-3XP7`\):2IF&)-,Y#< M@(R=HB01M?EXQBH[&W76,P,VPK7!Y5V,W2%>D=^#B=EH&5 ME#XFY+Q!J.S.>`X2A=I,F:>N9OTO%SF-6]\#8U2.=C$%VK<&\/HM@4^)4V3E M=JY?8[:MS5VPRT@HC?+//7'-`W(%U,8M^3"4.%<@8?GBTH!*5I-]N7IFRD6B M+MI;`@CTK?&?>+0);,&:;:V;SC":!U>.^$=Z5?@F7Z'>\D8T'J-.V@*2MD.4 MGPW:&`AP+-J4>2Y'FU:.F.6U/'0TGI!<9HAKQPANRE+NN"T:==>BL_RW#2A- M%PU$!F!OZCEL=6D`J'[3]D&C/SO`1P]:O2G"KOW+_SRS-8H*)G)LTSQGR`H- M>=@+T%.I9X\R35-4D":&VF].%8L0/O"%E/MN.H<-9*=F4=LVZ] M^&%7IQ3^%Q0(.+'I_&=5)3A]-AV/\365OBFDMU:ULV)(2O!SF6.:H6D(FNH* M,.F*:N7+#*S$#T27=5Y@B[IR6;WYKZ&P;MW3DV)['HI#*6U;J,AVB*B9`GLBTOY<[]R?,X(C6R92H="[G7N9 M1JZ-!55,4*#X.0.X.D`C%2NLJ>IT;MR4=QKJ1#) M64XO34)5NBPK6U9^N,O)D2(<4LYU<)'-&1'[U$[+M^JL!7O9CER)=8VT\9J/1M5+99/DV- M[M,E1:;ON3!IG`.&1XJ5^FQ#A^:>QN.O37QTS1)ZEF4SF`SGVK#I_*5OS&S* MBB(&*IGR;=>JM_ME!7!LSE<`.HU]\`:X!LWZUO(6EM@^@;%MJKF`K8#6ZGNV M"'0:=TUMYIK=&CN;M4=LJ\SK6E'1O9^(;,++I4O9U(XZ#GEAF.4-X@+R1._:< MS;U'*M\*)D:8C]!EK^M&!YX:CZ4F&F9NU3I6+^ M+HJCSHL9XC8&EPOV//<18?N7FAMXMVBL1U?>!IN,=6YI_KP@Q-N=+T-MU6!B MW$Y<8B5E=4V:!Q5?K;I-94U]F79)JL#9G;(.C=35=CF6%E%;CV1;"$`9QT7* MNG<7PV>>.NU51TYO9HZ;Y&TF4N*G3,H3V0VC%(^9N?KJ MZLBT$5/@9:L-;^ZLY.\W([9X<4PS0Y"9K'R-(%5A;8J[Z7!M.*7LL/D9L(G(Z2'*[DCK?9&BJ M6U?)`BRQ+B7DC(0-ZE8XTQ55HPY6U!$98$4JF]5HS^Y7-_]S]_B)GEDHLQHY M`]A&C*!BM]P-2*K+,INUF,H[*JW\(K".F.8BX1&S>=(XS57I3QIK.0CK=^\@ M:`8>IF/TM>]^OZ#N_VXX\U])/WT&V+2)HL[&;41%V.GVS,D'K8251IE1$*04 MW6&09T4]%JU$X-5[27;/^MLCKE]#ND,9T)<-*MBQE+X431 MFEJ._/)K4LWJV=;5L_?_:+=;__KR^>'PW__Z:LZ\YV_PS;'UZV@^^;:`]P/O MZ?P('Q]].OC[_FY!G*.Y^:OK?'3?WO/[S\-5?MYU/"^_3CU=?GS^^`D^+A^,O1X_7 MKV8/5S^[\[\OK,EQ#UR>/SR\.KGYW?OZYL?]L/.V<_?G&>KT3R8C;S9^1H_& M8O0[^+K_Z^'7?G?0^^O!_7>K?WO3;E=VX7![7RN^2MB<'FI.#S6GAZK0F-W5 MUU?YXXQ:,J0LA;873GJF:\\%;H(M*JPR49/*_HIC(NU*V*9NFS\,EU%,KBR;N`6 MGX2?)$L^RB;CFYHT>5I)!]F8QZ<`*YX,Y@"/4.GZ;?2!(A5NCLE_JSH'7RF+LZ*O=,UM0HU(.2*NPN^Y^K0Q-.6^ MSX=9UXKL.9U`,EXYA`.;S!#QEV"&8W4OVN0KU#-]5>[[+2@+K,%FO=-7\LKK MU7WWX2/S)P""L9J+!;>IU%(8V\%8OP5H*>N>G"641P-.`+F`Z[;X@=F#EO"3 M.GPB7Y:O>?$47SN5,&6CC<6`3BP&(/C_!=R\'D9%]R^D5TMT5^%OV,P"LSH,ATMS"4/%*'=NQTEEDKUE?05#A,K1,6GA7+J>ZDF M)AXWVYG?DWI?$CO8P%1\7^Z&Y^7U>/_EW57#PWV>BAYSY]#^@H:#;(0%)H89 M+$)TI38^&;HG;!:;,B52M(Q;5'NE%_M$T)1WUWV)G16,T!)9.RORA-5H9T4N M)N(CMYR=%91"++?GFS\]&P,::S2ZW,6U8T"7IBBV=WO&OJ*DQE])ZP&N7Q7$RD MG8\3O@MD%F:;X?@*N4#E;#M3EZ;"'&?@QF\$R8)-8D(676XW`;#\1NWLR.MV MI=78&LGIY0)8:GS6*QJ#T1=557?=F*YZ=]TX;`(S(:E=-V.P3VG?#HE4FO8J M$"E.K_-@6V)N)>/U-V8G)?GL?XSHSPV'!6MPD#E9T5$1"%SZ*W(@)+<:P@>H M^`Z)N/(XOD"50$S;`V&Q?1(*W;>A15MZE>;" M3>`DGC'9V>T?K(HC\&SN$$\,&)ZR6-]!P#"#UG7$PN$XG&H8SOIZ@C7L[)%B M>P+ML6VR$G^P3X/=L$7EF712AEJ4=G;O67G78>R4R79%+JX[,8A- MAN,U'F*LLX"8YAJZ%\@.BX=/<^5:%8;=AL8U-*[*-&XCGZ@(HTTEM2!"*=C4 ME:ET>9^Q/$?(>K(=A[*X"VH+G-@T,H.C$6N*)T9=!$4W=.8%TIER8=90G"H, M20W%:2A.E2D.7XY1$6.<%E2CX^=2(UY,I?`F#;3)+_%P1=WRUHA%69I42%#I MH:WA1)7C1#P1Q//Z=L.!&@[4<*`J-&;W'"@OIZC9@Y6CKR:;7?,QDU,)TL)I M@G4KKCB*[5V+O03G^"\Y(>*2]?W6J[/50L1'EJZ&&[T\;B0Y#AOZ5(WAKJ%/ M#7VJ,GTJF794!%U9DVI"PDHC7V>>UA78*W]J8&C#"3MYZ>,BQL&V2RESAJ=A M6-5E6(7CAX<[->RI84\->_I/94^9*45%.&4KJTPXY1*>'+!DG=O)JD1B*FF0%.5(:FA.`W%J3+%*9!< ME`16`;65";%GQ&>`3(\UG+T" M!5W;742NZ138.YTCC6\QJX@@WIQJ`?M[(.T&3&PF!+I7QC2'_1!@OIZ@>8?^ M91#M](=DD&=*U1/2/"Y@P9T-2LG""1.\-.:.?J\\RC%I6AB!"+AQ#!)9G!O1 MOH>9<685#@`>ONTD?3:<(^L_W M^+L6R-!SB6M`*_=&&;Y,DJNC5OXH@EGDS;)2GKGV1HYMGCG(R+ELF\\149&U MR3@I:$0>(1%*.SUJ@\7L.',,"5$>%Z?IAB01:!,X1-[\X.?D,7D#0$QL^\^! M280W*K4^="0=E,@[&Z)T)$Q&5#(VG`M*E)\_@86TG)T0JVO*7")+)X&)O(`A MSK7#$7E5,&9S+2^G=,2)>KKT&J64?)1"%QP+9YA`_`-R/`H!7IS9#L#2T$^* MK5_,;P"SG/5T18?*0*XOKD^)YP1A:2DF+K2&/#"!RA+K,E/,0/`7X#B?('J" MM\`@"`+K@A`/8%G`9XFOH0LRD5HZXT#"?/]Z^;*5G*EINM@Z)9L,8):8'XHF MFZ7<]7SWC'XB(;]G":[1P)J)S1+U$A/.N.S`JTJ0CXJN#X//@6<)_ILUJ4F:P#29(>3EDM+`Y25)>^=.1]@"U-B2(]D!]]>O M)&.PP38FS7;=O?13D'6DYYSGZ)RCEW[X5[$(KA%!##K(`",/X.8;QWH+BJ!) M+;NO8]`BCOBJ._@9B3;RC)CX+;Y/'<>N:]IL-GNGBZYGX^8B4\+H3EERSO*)EJE5*IJF'`'$AT5%OV):\7W-ARF.9Z---$# M,:P7@`/9!#FWT$+3^$K'U7(PQ9Q'9IA5`S1E[>%3 MNZ_0+^%0D@$1)<4E*E\."0"9`;F\*,=9"8PA'ZDI@B]*I%@J%T-:F)@\QBE2 MKM5JFOH:=-WH&:5`?AY!+B@00"U$G"O*K`LTAJ[IG!:>7&CB,49&(<2HX2S' M"X]UI/D?"V?"%0"0S@`)H0YT,"5GRJ6D8ZEVV\9D3,^"-M$J<=0#,#TT!DJ) MNC3`:8%CRS:EEZBV*4/CTX(TOIH_-T$_71\S)A0,HOM;4>CVB##3^Z8J) M.3'!,6J]EE(Z-'^Z4F).W35CR8JJ)7L/A")`_C'LM1(CDQI6Y`I.36S(J-\B MHAGUA4>HR%``V/`U_YK6:V76`,'*_FF=L7`'7*F_E[W[X7XH@M(E8VZT+HD2!=> MHVI->LF6%J%K<]&]G,AS:,HTVY\BE,1BI$N\2A$:*]EH7`P+U+B"O!O7]$"U M_)M?-Z12NSJE3;]V(1-6F"('"UP\`[OK$AG(KKXNV>!-%$(L^WOJ`^K[ M4V&M*34-Q/CEDXL=3\I6**N&V$[I=+:5W\.7Q.2^0_7'Q8S_!OZA'QZ9=)9PFI>?HXQ0H37HY?P*D<'TY"W-66B.MM'5%'<=2)HNA<\BQ6C_=D!EC2=AS$.%@@X12AHQU M$LN#K%-:PGID@D*CF=A M/\J\OT$"42>F?]Y_NJO^]>>#;KOSS^2H9GP_?IY\]LCPPIU='[/:\WW\>_@%+)^\;M_J@T2YUM,$1(>-JLWIT\\=)K_G8*]\8'BJ9 M0W+]5#WXTM<^>N['QX.'^\MSGM_V-%B/,U? M_&G.5B[%.IM?ZXB2M"@BL:IP+%O4.DEA^/_-]WZ7TT43MWGK(IDQ6 M^/N5DYF.!#ZVE3/EPU@V9)%S#QD3&ZZX:F;/0IB%"ZJ[TF\;Q+@4&U/':Y$Q M999"X;.2VF-;$5#:*`*"X8`8#_@#@M"(?Y]5\T&+W+#ZE[':QFWL\I(66S*P M`+)QE9YV7^]?\[>IKL9+$9&_BH%<4385RY5BM?QNSHWE9=6.,*3B_G79;C`" MN1?!2+^63P"B0(0E)Q#:2E"L&H#(AB'R9D=9=`0$Y^M&F&Q4,)->MI87FF&CY279VH=L:K M$[SE:6ICQ!WY.*<`_!MF]4ZF+MI$>F\)0;F@"P`N>IT6'.;*NV'52XR&J3%0 MBQ\LO1:Y$X$C5+'YEBN4W\ M1TJFB,D-PQ(A44K*-TF7<[DY0SP_EM@5<(I+7&$BHAV&YD(H/THF(@N'P*@R M8@_G;^'$UDWMW$))-3^*94*IG27H>(_P9"H]^UEP/T%-:EF4J&%XQW5D[C*$ M1OG1=D>\B7K'KO[P73&7UWG5LLQ.OTKPR@P_V2HND[?3_OXX1]K&PDK4HNL_ M+_)D>?WD8EN5VKE1)A7=6I*/9:>-X0B;6#Z?RH]6*=AV6X/A#!R^9_=OV7^] M1?ER?=)]8=MM\62%6E:F=DPOKG< M408;T![2J:AN3+2L!@94_"DG$O'F&1LB.WBYMLGKJI.V:YE",D&\15;R?EXA M1CXCZVYXDZ-MV.GDW23/JRMD1IJV/"*#+(K_7T#=-*2IFT[7MOT&:*X.!U>1 M-)=;EY>`3O3O#IM`@K^KWJN\(D6)$7Z8TADOMX*KE+.:7?0./2]:O2X*'A<- MT-PY-T4>SX\9_V>:ISFD>A34&:^&R:'A,F!,+C>"=S7";*N'-WYH7MDTATJ_ M$'>R(9;O7'*M=B:4B<$E$IU"SRMZR%3/4BEWN#J%4"\PNM#S"YG\F>&U%$FT MU"5D1&C%@].H'-I@.\34K9=\&9!K5]\&,)&[Q87[\KX]UUKN`C:53[&C,%S= M">ZW6TV\U/R!HA%NCI_R_@ND$MB$F< MHF-H\O_6?G`;QE1.(]*?SL_[_49.58N`2\X_*2\&\N.=F5`J'=6MO'\GZ;OI M?P!02P$"'@,4````"``=2"8_G5,`9^1D``#).`<`$0`8```````!````I($` M````97-Y`L``00E#@``!#D!``!0 M2P$"'@,4````"``=2"8_3[`I,K$)``"2;0``%0`8```````!````I($O90`` M97-Y&UL550%``.*&69.=7@+``$$)0X```0Y`0`` M4$L!`AX#%`````@`'4@F/_*(YVDC$P``,#`!`!4`&````````0```*2!+V\` M`&5S>7,M,C`Q,3`W,S%?9&5F+GAM;%54!0`#BAEF3G5X"P`!!"4.```$.0$` M`%!+`0(>`Q0````(`!U()C_W]X5``"0``)G&`0`5`!@```````$```"D@:&" M``!E`L``00E#@``!#D! M``!02P$"'@,4````"``=2"8_868+(^,4``"Y7@$`%0`8```````!````I('P MI@``97-Y&UL550%``.*&69.=7@+``$$)0X```0Y M`0``4$L!`AX#%`````@`'4@F/P/@X*NB"```V#\``!$`&````````0```*2! M(KP``&5S>7,M,C`Q,3`W,S$N>'-D550%``.*&69.=7@+``$$)0X```0Y`0`` 64$L%!@`````&``8`&@(```_%```````` ` end XML 21 R13.htm IDEA: XBRL DOCUMENT

Note 7 - Pledged Assets, Notes Payable and Long-Term Debt

3 Months Ended

Jul. 31, 2011

Debt Disclosure [Text Block]

7. PLEDGED ASSETS, NOTES PAYABLE AND LONG-TERM DEBT

The following table is a summary of the Company’s long-term debt and related current maturities (in thousands):

	July 31, 2011		April 30, 2011
Industrial revenue bonds, Series 2006A, 5-year adjustable interest rate based on the yield on 5-year United States Treasury Notes, plus .45% (5.30% as of July 31, 2011), due in monthly principal and interest payments beginning October 1, 2006 through maturity on September 1, 2026, secured by real estate. Effective September 1, 2011, the 5-year adjustable interest rate was reset to 1.89% for the next five years.	$	3,111	$	3,144

Operating line of credit, $6,000,000 limit on borrowing capacity, prime rate (3.25% at July 31, 2011) plus/minus 0.5% performance based interest, due in full on October 30, 2012, secured by accounts receivable and inventory. The interest rate as of July 31, 2011 was 3.5%		1,450		1,950
		4,561		5,094
Less current maturities		136		134
Total long-term debt	$	4,425	$	4,960

The approximate aggregate amount of principal to be paid on the long-term debt and line of credit during each of the next five fiscal years ending April 30 is as follows (in thousands):

Year	Amount
2012 (remaining)	$	101
2013		1,592
2014		150
2015		158
2016		167
Thereafter		2,393
	$	4,561

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References+ Details

XML 22 R6.htm IDEA: XBRL DOCUMENT

Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $) In Thousands	3 Months Ended
	Jul. 31, 2011	Jul. 31, 2010
Cash Flows from Operating Activities:
Net income	$ 213	$ 107
Adjustments to reconcile net income to net cash provided by operating activities:
Share-based compensation expense	25	6
Depreciation	92	110
Amortization	55	55
Provision for doubtful accounts	3
Loss on disposal of equipment	3	13
Deferred income taxes	(19)	(127)
Changes in operating assets and liabilities:
Accounts receivable	426	137
Inventories	(49)	(175)
Income tax payable	(27)	302
Accounts payable	356	21
Accrued expenses	(425)	(2)
Other	(10)	(12)
Net cash provided by operating activities	643	435
Cash Flows from Investing Activities:
Purchases of property and equipment	(197)	(8)
Net cash (used in) investing activities	(197)	(8)
Cash Flows from Financing Activities:
Principal payments on note payable to bank	(500)	(200)
Proceeds from exercise of stock options		2
Principal payments on long-term debt	(33)	(31)
Net cash (used in) financing activities	(533)	(229)
Net (decrease) increase in cash and cash equivalents	(87)	198
Cash and cash equivalents at beginning of period	460	493
Cash and cash equivalents at end of period	373	691
Supplemental Disclosure of Cash Flow Information:
Cash paid during the period for interest	60	77
Cash (paid) received during the period for income taxes	$ (164)	$ 120

XML 23 R9.htm IDEA: XBRL DOCUMENT

Note 3 - Intangible Assets and Goodwill

3 Months Ended

Jul. 31, 2011

Goodwill and Intangible Assets Disclosure [Text Block]

3. INTANGIBLE ASSETS AND GOODWILL

The Company’s total intangible assets consist of the following (in thousands):

			July 31, 2011					April 30, 2011
Intangible Asset Description	Estimated Useful Lives		Gross Carrying Amount		Accumulated Amortization			Gross Carrying Amount		Accumulated Amortization
Patents, trademarks and copyrights		10 – 15	$	852	$	(285	)	$	852	$	(268	)
Customer relationships		5 – 15		1,040		(330	)		1,040		(310	)
Trade name		15		530		(138	)		530		(129	)
Technologies		13 – 15		475		(99	)		475		(90	)
			$	2,897	$	(852	)	$	2,897	$	(797	)

Amortization expense for the three-month periods ended July 31, 2011 and 2010 was approximately $55,000 in each respective period.

Estimated amortization expense for the next five fiscal years ending April 30 is as follows (in thousands):

Year	Amounts
2012 (remaining)	$	159
2013		202
2014		202
2015		187
2016		166

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References+ Details

XML 24 R10.htm IDEA: XBRL DOCUMENT

Note 4 - Inventory

3 Months Ended

Jul. 31, 2011

Inventory Disclosure [Text Block]

4. INVENTORY

	July 31, 2011		April 30, 2011
Raw material	$	2,713	$	2,926
Work-in-process		982		858
Finished goods		2,234		2,096
	$	5,929	$	5,880

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

+ References+ Details

XML 25 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; word-wrap: break-word; } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 26 R11.htm IDEA: XBRL DOCUMENT

Note 5 - Stock-Based Compensation

3 Months Ended

Jul. 31, 2011

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

5. STOCK-BASED COMPENSATION

	Three Months Ended July 31, 2011			Three Months Ended July 31, 2010
Risk-free interest rate		2.97	%		2.42	%
Expected life, in years		6			6
Expected volatility		73.43 – 73.61	%		61.27	%
Dividend yield		0.0	%		0.0	%
Forfeiture rate		9.60	%		9.60	%

At July 31, 2011, there was approximately $318,000 of unrecognized compensation cost related to share-based payments that is expected to be recognized over a weighted-average period of 2.19 years.

The following tables represent equity award activity for the three-month period ended July 31, 2011:

Stock Options	Number of Shares		Weighted-Average Exercise Price		Weighted-Average Remaining Contract Life
Outstanding options at April 30, 2011		279,250	$	2.48	3.77 Years
Granted		85,000	$	5.11
Exercised		--		--
Forfeited		--		--
Outstanding options at July 31, 2011		364,250	$	3.10	5.00 Years

Outstanding exercisable at July 31, 2011		240,167	$	2.22	2.68 Years

Restricted Stock	Number of Shares		Weighted-Average Price		Weighted-Average Remaining Contract Life
Outstanding awards at April 30, 2011		--		--
Granted		7,200	$	5.01	9.75 Years
Exercised		--		--
Forfeited		--		--
Outstanding awards at July 31, 2011		7,200	$	5.01	9.75Years

Outstanding vested at July 31, 2011		--	$	--

The following table summarizes information about equity awards outstanding at July 31, 2011:

	Options Outstanding						Options Exercisable
Range of Exercise Prices	Number Outstanding at July 31, 2011		Weighted- Average Remaining Contractual Life		Weighted- Average Exercise Price		Number Exercisable at July 31, 2011		Weighted- Average Exercise Price
$0.01 - $1.00		95,000	0.73 years		$	0.81		95,000	$	0.81
$1.01 - $2.00		47,500	1.34 years		$	1.25		47,500	$	1.25
$2.01 - $3.00		--		--		--		--		--
$3.01 - $4.00		121,000	6.12 years		$	3.73		85,500	$	3.69
$4.01 - $5.00		--		--		--		--		--
$5.01 - $6.00		97,200	8.93 years		$	5.14		5,000	$	5.90
$6.01 - $7.00		--		--		--		--		--
$7.01 - $8.00		10,750	7.12 years		$	7.05		7,167	$	7.05
Total		371,450	4.90 years		$	3.13		240,167	$	2.22

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Statement of Position (SOP)
-Number 93-6
-Paragraph 53
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 14

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 123R
-Paragraph 64, 65, A240
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 40
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 50
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

+ Details

XML 27 R5.htm IDEA: XBRL DOCUMENT

Condensed Consolidated Statements of Stockholders' Equity (July 31, 2011 unaudited) (USD $) In Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance at Apr. 30, 2010	$ 38	$ 10,961	$ (1,032)	$ 9,967
Balance (in Shares) at Apr. 30, 2010	3,788
Net income			872	872
Exercise of stock options		2		2
Exercise of stock options (in Shares)	1
Share-based compensation expense		36		36
Balance at Apr. 30, 2011	38	10,999	(160)	10,877
Balance (in Shares) at Apr. 30, 2011	3,789
Net income			213	213
Share-based compensation expense		25		25
Balance at Jul. 31, 2011	$ 38	$ 11,024	$ 53	$ 11,115
Balance (in Shares) at Jul. 31, 2011	3,789

- Definition

This element represents the amount of recognized equity-based compensation during the period, that is, the amount recognized as expense in the income statement (or as asset if compensation is capitalized). Alternate captions include the words "stock-based compensation".

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 35
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6415241&loc=d3e4534-113899

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 20
-Section 55
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=6576910&loc=d3e11149-113907

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 123R
-Paragraph 64
-Subparagraph b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 123R
-Paragraph A91
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 20
-Section 55
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=6576910&loc=d3e11178-113907

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 123R
-Paragraph 39
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.22)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.18)
-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6920043&loc=d3e565-108580

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph A7
-Appendix A

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 130
-Paragraph 10, 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Other Comprehensive Income
-URI http://asc.fasb.org/extlink&oid=6519514

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 87-21
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Net Income
-URI http://asc.fasb.org/extlink&oid=6518256

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.19)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Article 5
-Section 03
-Paragraph 19

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 28, 29, 30
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 16: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph 20
-Article 9

+ Details

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References+ Details

- Definition

Number of share options (or share units) exercised during the current period.

+ References+ Details

- Definition

Value stock issued during the period as a result of the exercise of stock options.

+ References+ Details

XML 28 R7.htm IDEA: XBRL DOCUMENT

Note 1 - Nature of Operations and Summary of Significant Accounting Policies

3 Months Ended

Jul. 31, 2011

Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block]

1. NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT

ACCOUNTING POLICIES

Nature of Operations

The Company’s sales are made to customers within the United States and several international markets.

Principles of Consolidation

Comprehensive Income

The Company has no components of other comprehensive income, therefore comprehensive income equals net income.

Fair Value of Financial Instruments

Recent Accounting Pronouncements

Revenue Recognition

Accounts Receivable

Inventories

Property and Equipment

Property and equipment are recorded at cost. Depreciation is computed using the straight-line method over the following estimated useful lives:

Description	Years
Building and improvements	39
Equipment	3-8

Goodwill

Intangible Assets

Impairment of Long-Lived Intangible Assets

Income Taxes

Warranty Reserve

Shipping and Handling Costs

Subsequent Events

The Company evaluates all subsequent events and transactions for potential recognition or disclosure in its financial statements. There are no matters which require disclosure.

- Definition

The entire disclosure for the organization, consolidation and basis of presentation of financial statements disclosure, and significant accounting policies of the reporting entity. May be provided in more than one note to the financial statements, as long as users are provided with an understanding of (1) the significant judgments and assumptions made by an enterprise in determining whether it must consolidate a VIE and/or disclose information about its involvement with a VIE, (2) the nature of restrictions on a consolidated VIE's assets reported by an enterprise in its statement of financial position, including the carrying amounts of such assets, (3) the nature of, and changes in, the risks associated with an enterprise's involvement with the VIE, and (4) how an enterprise's involvement with the VIE affects the enterprise's financial position, financial performance, and cash flows. Describes procedure if disclosures are provided in more than one note to the financial statements.

+ References+ Details

XML 29 R2.htm IDEA: XBRL DOCUMENT

Condensed Consolidated Statements of Operations (Unaudited) (USD $) In Thousands, except Per Share data	3 Months Ended
	Jul. 31, 2011	Jul. 31, 2010
Sales	$ 5,673	$ 5,182
Cost of products sold	3,669	3,437
Gross margin	2,004	1,745
Selling, general and administrative expenses:
Research and development expense	342	316
Selling and marketing expense	538	419
General and administrative expense	735	764
Total selling, general and administrative expenses	1,615	1,499
Operating income	389	246
Financial expense:
Interest expense	(57)	(77)
Other expense, net		(7)
Total financial expense	(57)	(84)
Net income before income tax expense	332	162
Income tax expense	119	55
Net income	$ 213	$ 107
Net income per share information:
Basic (in Dollars per share)	$ 0.06	$ 0.03
Diluted (in Dollars per share)	$ 0.05	$ 0.03
Weighted average common shares outstanding:
Basic (in Shares)	3,789	3,788
Diluted (in Shares)	3,930	3,894

XML 30 FilingSummary.xml IDEA: XBRL DOCUMENT 2.3.0.11 Html 22 104 1 false 3 0 false 3 true false R1.htm 000 - Disclosure - Document And Entity Information Sheet http://elecsyscorp.com/role/DocumentAndEntityInformation Document And Entity Information false false R2.htm 001 - Statement - Condensed Consolidated Statements of Operations (Unaudited) Sheet http://elecsyscorp.com/role/ConsolidatedIncomeStatement Condensed Consolidated Statements of Operations (Unaudited) false false R3.htm 002 - Statement - Condensed Consolidated Balance Sheets (July 31, 2011 Unaudited) Sheet http://elecsyscorp.com/role/ConsolidatedBalanceSheet Condensed Consolidated Balance Sheets (July 31, 2011 Unaudited) false false R4.htm 003 - Statement - Condensed Consolidated Balance Sheets (July 31, 2011 Unaudited) (Parentheticals) Sheet http://elecsyscorp.com/role/ConsolidatedBalanceSheet_Parentheticals Condensed Consolidated Balance Sheets (July 31, 2011 Unaudited) (Parentheticals) false false R5.htm 004 - Statement - Condensed Consolidated Statements of Stockholders' Equity (July 31, 2011 unaudited) Sheet http://elecsyscorp.com/role/ShareholdersEquityType2or3 Condensed Consolidated Statements of Stockholders' Equity (July 31, 2011 unaudited) false false R6.htm 005 - Statement - Condensed Consolidated Statements of Cash Flows (Unaudited) Sheet http://elecsyscorp.com/role/ConsolidatedCashFlow Condensed Consolidated Statements of Cash Flows (Unaudited) false false R7.htm 006 - Disclosure - Note 1 - Nature of Operations and Summary of Significant Accounting Policies Sheet http://elecsyscorp.com/role/Note Note 1 - Nature of Operations and Summary of Significant Accounting Policies false false R8.htm 007 - Disclosure - Note 2 - Basis of Presentation Sheet http://elecsyscorp.com/role/Note0 Note 2 - Basis of Presentation false false R9.htm 008 - Disclosure - Note 3 - Intangible Assets and Goodwill Sheet http://elecsyscorp.com/role/Note00 Note 3 - Intangible Assets and Goodwill false false R10.htm 009 - Disclosure - Note 4 - Inventory Sheet http://elecsyscorp.com/role/Note000 Note 4 - Inventory false false R11.htm 010 - Disclosure - Note 5 - Stock-Based Compensation Sheet http://elecsyscorp.com/role/Note0000 Note 5 - Stock-Based Compensation false false R12.htm 011 - Disclosure - Note 6 - Net Income (Loss) Per Share Sheet http://elecsyscorp.com/role/Note00000 Note 6 - Net Income (Loss) Per Share false false R13.htm 012 - Disclosure - Note 7 - Pledged Assets, Notes Payable and Long-Term Debt Notes http://elecsyscorp.com/role/Note000000 Note 7 - Pledged Assets, Notes Payable and Long-Term Debt false false R14.htm 013 - Disclosure - Note 8 - Segment Reporting Sheet http://elecsyscorp.com/role/Note0000000 Note 8 - Segment Reporting false false R15.htm 014 - Disclosure - Note 9 - Warranty Sheet http://elecsyscorp.com/role/Note00000000 Note 9 - Warranty false false All Reports Book All Reports Process Flow-Through: 001 - Statement - Condensed Consolidated Statements of Operations (Unaudited) Process Flow-Through: Removing column '12 Months Ended Apr. 30, 2011' Process Flow-Through: 002 - Statement - Condensed Consolidated Balance Sheets (July 31, 2011 Unaudited) Process Flow-Through: Removing column 'Jul. 31, 2010' Process Flow-Through: Removing column 'Apr. 30, 2010' Process Flow-Through: 003 - Statement - Condensed Consolidated Balance Sheets (July 31, 2011 Unaudited) (Parentheticals) Process Flow-Through: 005 - Statement - Condensed Consolidated Statements of Cash Flows (Unaudited) Process Flow-Through: Removing column '12 Months Ended Apr. 30, 2011' esys-20110731.xml esys-20110731.xsd esys-20110731_cal.xml esys-20110731_def.xml esys-20110731_lab.xml esys-20110731_pre.xml true true EXCEL 31 Financial_Report.xls IDEA: XBRL DOCUMENT begin 644 Financial_Report.xls M[[N_34E-12U697)S:6]N.B`Q+C`-"E@M1&]C=6UE;G0M5'EP93H@5V]R:V)O M;VL-"D-O;G1E;G0M5'EP93H@;75L=&EP87)T+W)E;&%T960[(&)O=6YD87)Y M/2(M+2TM/5].97AT4&%R=%\V.65E,S5C85]C,F5D7S0Q,6-?.3`Q9%]B-64P M9F)E-#EA,3,B#0H-"E1H:7,@9&]C=6UE;G0@:7,@82!3:6YG;&4@1FEL92!7 M96(@4&%G92P@86QS;R!K;F]W;B!A'!L;W)E&UL;G,Z=CTS1")U&UL;G,Z;STS1")U&UL/@T*(#QX.D5X8V5L5V]R:V)O;VL^#0H@(#QX M.D5X8V5L5V]R:W-H965T5]);F9O#I%>&-E;%=O#I%>&-E;%=O#I%>&-E;%=O#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I.86UE/D-O;F1E;G-E9%]#;VYS;VQI9&%T961?4W1A=&5M M93$\+W@Z3F%M93X-"B`@("`\>#I7;W)K#I%>&-E;%=O#I%>&-E;%=O M#I.86UE/@T*("`@(#QX M.E=O#I%>&-E;%=O M#I.86UE/DYO=&5?,U]);G1A;F=I8FQE7T%S#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I.86UE M/DYO=&5?-%]);G9E;G1O#I7;W)K#I7;W)K#I7;W)K#I7;W)K#I7;W)K#I3='EL97-H965T($A2968],T0B5V]R:W-H965T&-E;"!84"!O3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R M=%\V.65E,S5C85]C,F5D7S0Q,6-?.3`Q9%]B-64P9F)E-#EA,3,-"D-O;G1E M;G0M3&]C871I;VXZ(&9I;&4Z+R\O0SHO-CEE93,U8V%?8S)E9%\T,3%C7SDP M,61?8C5E,&9B930Y83$S+U=O'0O:'1M;#L@8VAA2!);F9O2!);F9O M2!296=I'0^,3`M43QS M<&%N/CPO'0^+2TP-"TS,#QS<&%N/CPO'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L M87-S/3-$2!6;VQU;G1A'0^/'-P86X^/"]S<&%N/CPO=&0^ M#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@ M/'1R(&-L87-S/3-$'0^/'-P86X^/"]S<&%N/CPO=&0^ M#0H@("`@("`\+W1R/@T*("`@(#PO=&%B;&4^#0H@(#PO8F]D>3X-"CPO:'1M M;#X-"@T*+2TM+2TM/5].97AT4&%R=%\V.65E,S5C85]C,F5D7S0Q,6-?.3`Q M9%]B-64P9F)E-#EA,3,-"D-O;G1E;G0M3&]C871I;VXZ(&9I;&4Z+R\O0SHO M-CEE93,U8V%?8S)E9%\T,3%C7SDP,61?8C5E,&9B930Y83$S+U=O'0O:'1M;#L@8VAA M'!E M;G-E/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XU,S@\'!E;G-E.CPO'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@ M("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@ M("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$'0^/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S"!E>'!E;G-E/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XS,S(\ M'0^/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO M=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA&5S/"]T M9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XV.#<\2!A;F0@97%U:7!M96YT.CPO M'0^/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^ M/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$ M2!A;F0@97%U:7!M96YT+"!G2!A;F0@97%U:7!M96YT+"!N970\+W1D/@T*("`@ M("`@("`\=&0@8VQA6%B;&4\+W1D/@T* M("`@("`@("`\=&0@8VQA&5S M/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XT,#(\3H\+W-TF5D.R!I3PO=&0^#0H@("`@("`@(#QT9"!C;&%S3X- M"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R=%\V.65E,S5C85]C,F5D7S0Q M,6-?.3`Q9%]B-64P9F)E-#EA,3,-"D-O;G1E;G0M3&]C871I;VXZ(&9I;&4Z M+R\O0SHO-CEE93,U8V%?8S)E9%\T,3%C7SDP,61?8C5E,&9B930Y83$S+U=O M'0O:'1M M;#L@8VAA7!E.B!T97AT+VAT;6P[(&-H87)S M970](G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@ M:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M M;#L@8VAA2`H2G5L>2`S,2P@,C`Q,2!U;F%U9&ET960I M("A54T0@)FYB'0^/'-P86X^/"]S<&%N/CPO=&0^ M#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^ M#0H@("`@("`@(#QT9"!C;&%S&5R8VES92!O M9B!S=&]C:R!O<'1I;VYS/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X M=#X\'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S M'0^/'-P86X^/"]S<&%N/CPO=&0^ M#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^ M#0H@("`@("`@(#QT9"!C;&%S'0^/'-P86X^/"]S<&%N/CPO=&0^ M#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$'!E;G-E/"]T9#X-"B`@("`@("`@/'1D(&-L87-S M/3-$=&5X=#X\7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI M(@T*#0H\:'1M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS M1$-O;G1E;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA7!E/3-$=&5X="]J879A2!O<&5R871I;F<@86-T:79I M=&EEF%T:6]N M/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XU-3QS<&%N/CPO'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T* M("`@("`@/'1R(&-L87-S/3-$"!P M87EA8FQE/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M/B@R-RD\6%B;&4\+W1D/@T*("`@("`@("`\=&0@8VQA2!O M<&5R871I;F<@86-T:79I=&EE6UE M;G1S(&]N(&YO=&4@<&%Y86)L92!T;R!B86YK/"]T9#X-"B`@("`@("`@/'1D M(&-L87-S/3-$;G5M/B@U,#`I/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@ M(#QT9"!C;&%S&5R8VES M92!O9B!S=&]C:R!O<'1I;VYS/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$ M=&5X=#X\3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R=%\V.65E,S5C M85]C,F5D7S0Q,6-?.3`Q9%]B-64P9F)E-#EA,3,-"D-O;G1E;G0M3&]C871I M;VXZ(&9I;&4Z+R\O0SHO-CEE93,U8V%?8S)E9%\T,3%C7SDP,61?8C5E,&9B M930Y83$S+U=O'0O:'1M;#L@8VAAF%T:6]N+"!#;VYS;VQI9&%T:6]N(&%N9"!06QE/3-$ M)T1)4U!,05DZ(&)L;V-K.R!-05)'24XM3$5&5#H@,'!T.R!415A4+4E.1$5. M5#H@,'!T.R!-05)'24XM4DE'2%0Z(#!P="<@86QI9VX],T1L969T/@T*("`@ M("`-"B`@("`@(#QF;VYT('-T>6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D]. M5"U325I%.B`Q,'!T.R!&3TY4+5-464Q%.B!I=&%L:6,[($9/3E0M1D%-24Q9 M.B!4:6UE7,@86YD(&-U M0T*("`@("`-"B`@("`@ M(&UA2!A;F0@7-T96US+"!I;F1U2P@86YD#0H@ M("`-"B`@("`@(&%E2!M M87)K971S(&%N9"!S=7!P;W)T2!A;F0@<')O9'5C=',@86YD('-E6QE/3-$)T1)4U!,05DZ(&)L;V-K.R!-05)'24XM3$5&5#H@ M,'!T.R!415A4+4E.1$5.5#H@,S9P=#L@34%21TE.+5))1TA4.B`P<'0G(&%L M:6=N/3-$;&5F=#X-"B`-"B`@("`@(#QF;VYT('-T>6QE/3-$)T1)4U!,05DZ M(&EN;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@5&EM97,@ M3F5W(%)O;6%N)SY4:&4-"B`@(`T*("`@("`@0V]M<&%N>28C.#(Q-SMS('-A M;&5S(&%R92!M861E('1O(&-U2P-"B`@(`T*("`@("`@16QE8W-Y6QE/3-$)T1)4U!,05DZ(&)L;V-K.R!-05)'24XM3$5&5#H@,'!T.R!415A4 M+4E.1$5.5#H@,'!T.R!-05)'24XM4DE'2%0Z(#!P="<@86QI9VX],T1L969T M/@T*("`@("`-"B`@("`@(#QF;VYT('-T>6QE/3-$)T1)4U!,05DZ(&EN;&EN M93L@1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@5&EM97,@3F5W(%)O M;6%N)SX\9F]N="!I9#TS1%1!0C$@2!H87,-"B`-"B`@("`@(&YO(&-O;7!O M;F5N=',@;V8@;W1H97(@8V]M<')E:&5N6%B;&4L(&%N9"!T:&4@8W5R&EM871E M6QE/3-$)T1)4U!,05DZ(&)L;V-K.R!- M05)'24XM3$5&5#H@,'!T.R!415A4+4E.1$5.5#H@,'!T.R!-05)'24XM4DE' M2%0Z(#!P="<@86QI9VX],T1L969T/@T*("`@("`-"B`@("`@(#QF;VYT('-T M>6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4 M+49!34E,63H@5&EM97,@3F5W(%)O;6%N)SX\9F]N="!I9#TS1%1!0C$M,2!S M='EL93TS1"=-05)'24XM3$5&5#H@,S9P="<^/"]F;VYT/E1H92!C87)R>6EN M9PT*("`@("`-"B`@("`@('9A;'5E(&]F('1H92!#;VUP86YY)B,X,C$W.W,@ M;&]N9RUT97)M(&1E8G0@87!P28C.#(Q-SMS(&1E8G0M=&\M=&%N9VEB;&4@;F5T('=O6QE/3-$)T1)4U!,05DZ(&)L;V-K.R!-05)'24XM3$5&5#H@,'!T M.R!415A4+4E.1$5.5#H@,'!T.R!-05)'24XM4DE'2%0Z(#!P="<@86QI9VX] M,T1L969T/@T*("`@("`-"B`@("`@(#QF;VYT('-T>6QE/3-$)T1)4U!,05DZ M(&EN;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4+5-464Q%.B!I=&%L:6,[ M($9/3E0M1D%-24Q9.B!T:6UE6QE/3-$)T1)4U!,05DZ(&)L;V-K.R!- M05)'24XM3$5&5#H@,'!T.R!415A4+4E.1$5.5#H@,S9P=#L@34%21TE.+5)) M1TA4.B`P<'0G(&%L:6=N/3-$;&5F=#X-"B`-"B`@("`@(#QF;VYT('-T>6QE M/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4+49! M34E,63H@5&EM97,@3F5W(%)O;6%N)SY);@T*("`-"B`@("`@($]C=&]B97(@ M,C`P.2P@=&AE($9I;F%N8VEA;"!!8V-O=6YT:6YG(%-T86YD87)D6QE/3-$)T1)4U!, M05DZ(&EN;&EN93L@1D].5"U35%E,13H@:71A;&EC)SY2979E;G5E#0H@#0H@ M("`@("!296-O9VYI=&EO;B`H06-C;W5N=&EN9R!3=&%N9&%R9',@0V]D:69I M8V%T:6]N#0H@("`-"B`@("`@(%LF(S@R,C`[05-#)B,X,C(Q.UT@5&]P:6,@ M-C`U*3H@375L=&EP;&4M1&5L:79E2!B92!P6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D]. M5"U35%E,13H@:71A;&EC)SY2979E;G5E#0H@("`@#0H@("`@("!!&ES=&EN9R!G=6ED86YC92!T:&%T('=A2!G96%R960@=&]W87)D(&5N28C.#(Q-SMS(&9I M;F%N8VEA;"!S=&%T96UE;G1S(&]R(')E2!D;V5S(&YO M="!E>'!E8W0@86YY(&EM<&%C=`T*(`T*("`@("`@;VX@:71S(&9I;F%N8VEA M;"!S=&%T96UE;G1S('5P;VX@861O<'1I;F<@05-5($YO+@T*(`T*("`@("`@ M,C`Q,2TP-2X\+V9O;G0^#0H@("`-"B`@("`\+V1I=CX\8G(O/CQD:78@0T*("`@(`T*("`@("`@9&5R:79E2!P2!A;F0@ MF5D#0H@#0H@ M("`@("!A="!T:&4@96YD(&]F('1H92!M;VYT:"!T:&4@F5D('=H96X@=&AE(&1E2!R97%U:7)E2!D;V5S(&YO="!H879E M(&%N>0T*(`T*("`@("`@<&]S="US:&EP;65N="!O8FQI9V%T:6]NF5D M(&ES#0H@("`@(`T*("`@("`@;F5T(&]F(&%N>2!S86QE0T*("`@("`-"B`@("`@ M(&=O=F5R;FUE;G1A;"!A=71H;W)I='DN/"]F;VYT/@T*("`@#0H@("`@/"]D M:78^/&)R+SX\9&EV('-T>6QE/3-$)T1)4U!,05DZ(&)L;V-K.R!-05)'24XM M3$5&5#H@,'!T.R!415A4+4E.1$5.5#H@,'!T.R!-05)'24XM4DE'2%0Z(#!P M="<@86QI9VX],T1L969T/@T*("`@("`-"B`@("`@(#QF;VYT('-T>6QE/3-$ M)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4+5-464Q% M.B!I=&%L:6,[($9/3E0M1D%-24Q9.B!4:6UE0T*(`T*("`@ M("`@979A;'5A=&EN9R!I;F1I=FED=6%L(&-U2!O9B!T:&4@8W5S=&]M97(@86-C;W5N=',- M"B`@(`T*("`@("`@87)E(&-O;G-I9&5R960@<&%S="!D=64@869T97(@=&AE M(&EN=F]I8V4@8F5C;VUE28C.#(Q-SMS M(&EN9'5S=')Y(&ES(&-H87)A8W1EFEN9R!A(#(T+6UO;G1H('1I;64-"B`@(`T*("`@("`@:&]R:7IO;BXF M(S$V,#LF(S$V,#M);F1I=FED=6%L('!AF5D(&%S(&]B0T*("`@(`T*("`@("`@=W)I=&4M9&]W;G,@;6%Y M(&)E(')E<75I0T*("`@#0H@ M("`@("!A;F0@17%U:7!M96YT/"]F;VYT/@T*("`@#0H@("`@/"]D:78^/&)R M+SX\9&EV('-T>6QE/3-$)T1)4U!,05DZ(&)L;V-K.R!-05)'24XM3$5&5#H@ M,'!T.R!415A4+4E.1$5.5#H@,S9P=#L@34%21TE.+5))1TA4.B`P<'0G(&%L M:6=N/3-$:G5S=&EF>3X-"B`@("`-"B`@("`@(#QF;VYT('-T>6QE/3-$)T1) M4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@ M5&EM97,@3F5W(%)O;6%N)SY00T*("`@#0H@("`@("!A;F0@97%U M:7!M96YT(&%R92!R96-O6QE/3-$)T9/3E0M M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;B<^/&9O M;G0@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@5$585"U$14-/4D%4 M24]..B!U;F1E6QE/3-$)T9/3E0M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ('1I;65S(&YE M=R!R;VUA;B<^/&9O;G0@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4 M+5-464Q%.B!I=&%L:6,[($9/3E0M1D%-24Q9.B!4:6UE&-E2!D;V5S(&YO="!A;6]R=&EZ M92!G;V]D=VEL;"P-"B`@("`@#0H@("`@("!B=70@2`S,2P-"B`@("`-"B`@("`@(#(P,3$N/"]F;VYT/@T*("`@("`- M"B`@("`\+V1I=CX\8G(O/CQD:78@28C.#(Q-SMS M(&EN=&%N9VEB;&4@87-S971S(')A;F=E(&9R;VT@-2`F(S@R,3$[(#$U#0H@ M(`T*("`@("`@>65A6EN9R!A;6]U;G0@;V8@86X@87-S970@;W(@9W)O=7`@;V8-"B`@("`-"B`@ M("`@(&%S'!E8W1E M9"!T;R!B92!G96YE6EN9R!A;6]U;G0L('1H90T*("`@#0H@("`@("!#;VUP M86YY('=O=6QD(')E8V]G;FEZ92!A;B!I;7!A:7)M96YT(&QO6EN9R!V86QU92!E>&-E961S('1H92!F86ER('9A;'5E(&]F('1H M92!L;VYG+6QI=F5D#0H@(`T*("`@("`@87-S971S(&%N9"!I;G1A;F=I8FQE M6QE/3-$)T1)4U!, M05DZ(&)L;V-K.R!-05)'24XM3$5&5#H@,'!T.R!415A4+4E.1$5.5#H@,S9P M=#L@34%21TE.+5))1TA4.B`P<'0G(&%L:6=N/3-$;&5F=#X-"B`-"B`@("`@ M(#QF;VYT('-T>6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q M,'!T.R!&3TY4+49!34E,63H@5&EM97,@3F5W(%)O;6%N)SY4:&4-"B`@(`T* M("`@("`@0V]M<&%N>2!A8V-O=6YT&5S(&EN(&%C M8V]R9&%N8V4@=VET:"!!4T,-"B`@(`T*("`@("`@5&]P:6,@-S0P+"`\9F]N M="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M4U193$4Z(&ET86QI M8R<^26YC;VUE#0H@("`@(`T*("`@("`@5&%X97,\+V9O;G0^+B8C,38P.R8C M,38P.T1E9F5R"!A"!B87-E2!T:&4@96YA8W1E9"!T87@@"!R M871EF5D(&EN(&EN8V]M90T*("`-"B`@("`@(&EN('1H M92!P97)I;V0@=&AA="!I;F-L=61E2!O9B!D969E2!C;VYS:61E"!A"!A=71H;W)I='D@=V]U M;&0@;6]R92!L:6ME;'D@=&AA;B!N;W0@F5D(&EN('1H M90T*("`-"B`@("`@(&9I;F%N8VEA;"!S=&%T96UE;G1S(&ES('1H92!L87)G M97-T(&)E;F5F:70@=&AA="!H87,@80T*(`T*("`@("`@9W)E871EF5D('5P;VX@=6QT:6UA M=&4-"B`-"B`@("`@('-E='1L96UE;G0@=VET:"!T:&4@2X\+V9O;G0^#0H@("`-"B`@("`\+V1I=CX\8G(O/CQD:78@ M6QE/3-$)T1)4U!,05DZ(&)L;V-K.R!-05)'24XM3$5&5#H@,'!T.R!415A4 M+4E.1$5.5#H@,S9P=#L@34%21TE.+5))1TA4.B`P<'0G(&%L:6=N/3-$;&5F M=#X-"B`-"B`@("`@(#QF;VYT('-T>6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@ M1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@5&EM97,@3F5W(%)O;6%N M)SY4:&4-"B`@(`T*("`@("`@0V]M<&%N>2!H87,@97-T86)L:7-H960@82!W M87)R86YT>2!R97-E2!P'1E M;F1E9"!W87)R86YT:65S(&9O'!E7-I M0T*("`@#0H@("`@("!R969L96-T6QE/3-$)TU!4D=)3BU,1494.B`S M-G!T)SX\+V9O;G0^4VAI<'!I;F<@86YD#0H@("`@(`T*("`@("`@:&%N9&QI M;F<@8V]S=',@=&AA="!A2!T:&4@0V]M<&%N>2!A0T*("`@(`T*("`@("`@979A;'5A=&5S(&%L;"!S=6)S97%U96YT M(&5V96YT'0O:F%V87-C3X-"B`@ M("`\=&%B;&4@8VQA'0@0FQO8VM=/"]T9#X-"B`@("`@("`@/'1D M(&-L87-S/3-$=&5X=#X\9&EV('-T>6QE/3-$)T1)4U!,05DZ(&)L;V-K.R!- M05)'24XM3$5&5#H@,'!T.R!415A4+4E.1$5.5#H@,'!T.R!-05)'24XM4DE' M2%0Z(#!P="<@86QI9VX],T1L969T/@T*("`-"B`@("`@(#QF;VYT('-T>6QE M/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U714E'2%0Z(&)O;&0[($9/3E0M M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ(%1I;65S($YE=R!2;VUA;B<^,BXF M(S$V,#LF(S$V,#LF(S$V,#LF(S$V,#LF(S$V,#LF(S$V,#LF(S$V,#LF(S$V M,#LF(S$V,#LF(S$V,#LF(S$V,#M"05-)4PT*(`T*("`@("`@3T8@4%)%4T5. M5$%424]./"]F;VYT/@T*("`@("`-"B`@("`\+V1I=CX\8G(O/CQD:78@2!I;F-L=61E('1H92!A8V-O=6YT0T*("`@#0H@("`@("!A;F0@:71S('=H;VQL>2!O=VYE9"!S M=6)S:61I87)Y+"!%;&5C2!A8V-E<'1E9"!A8V-O=6YT:6YG#0H@("`@#0H@ M("`@("!P0T*("`@#0H@("`@ M("!G96YE6QE/3-$)T1)4U!,05DZ(&)L;V-K M.R!-05)'24XM3$5&5#H@,'!T.R!415A4+4E.1$5.5#H@,S9P=#L@34%21TE. M+5))1TA4.B`P<'0G(&%L:6=N/3-$;&5F=#X-"B`-"B`@("`@(#QF;VYT('-T M>6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4 M+49!34E,63H@5&EM97,@3F5W(%)O;6%N)SY4:&4-"B`@(`T*("`@("`@8F%L M86YC92!S:&5E="!A="!!<')I;"`S,"P@,C`Q,2!H87,@8F5E;B!D97)I=F5D M(&9R;VT@=&AE#0H@("`@#0H@("`@("!A=61I=&5D(&9I;F%N8VEA;"!S=&%T M96UE;G1S(&%T('1H870@9&%T92!B=70@9&]E2!A8V-E<'1E9"!A8V-O M=6YT:6YG('!R:6YC:7!L97,@:6X@=&AE(%5N:71E9"!3=&%T97,-"B`@(`T* M("`@("`@9F]R(&-O;7!L971E(&9I;F%N8VEA;"!S=&%T96UE;G1S+CPO9F]N M=#X-"B`@("`-"B`@("`\+V1I=CX\8G(O/CQD:78@3X-"CPO:'1M;#X-"@T*+2TM M+2TM/5].97AT4&%R=%\V.65E,S5C85]C,F5D7S0Q,6-?.3`Q9%]B-64P9F)E M-#EA,3,-"D-O;G1E;G0M3&]C871I;VXZ(&9I;&4Z+R\O0SHO-CEE93,U8V%? M8S)E9%\T,3%C7SDP,61?8C5E,&9B930Y83$S+U=O'0O:'1M;#L@8VAA7!E(&-O;G1E;G0],T0G=&5X="]H=&UL.R!C:&%R M6QE/3-$)U!!1$1)3D6QE/3-$)U!!1$1)3D6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4 M+49!34E,63H@=&EM97,@;F5W(')O;6%N)SXF(S$V,#L\+V9O;G0^#0H@("`@ M#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D(&YO=W)A<#TS M1&YO=W)A<"!V86QI9VX],T1B;W1T;VT@6QE/3-$)T1)4U!, M05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@=&EM M97,@;F5W(')O;6%N)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@ M/"]T9#X-"B`@#0H@("`@("`@("`@/'1D('9A;&EG;CTS1&)O='1O;2!S='EL M93TS1"=0041$24Y'+4)/5%1/33H@,"XU<'0G/@T*("`-"B`@("`@("`@("`@ M(#QF;VYT('-T>6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q M,'!T.R!&3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N)SXF(S$V,#L\+V9O M;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D M(&-O;'-P86X],T0V(&YO=W)A<#TS1&YO=W)A<"!V86QI9VX],T1B;W1T;VT@ M6QE/3-$ M)T)/4D1%4BU"3U143TTZ(&)L86-K(#`N-7!T('-O;&ED.R!415A4+4%,24=. M.B!L969T)SX-"B`@#0H@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-0 M3$%9.B!I;FQI;F4[($9/3E0M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ('1I M;65S(&YE=R!R;VUA;B<^)B,Q-C`[/"]F;VYT/@T*("`@(`T*("`@("`@("`@ M(#PO=&0^#0H@(`T*("`@("`@("`@(#QT9"!V86QI9VX],T1B;W1T;VT@6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#`N-7!T('-O;&ED)SX- M"B`-"B`@("`@("`@("`@(#QD:78@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q M,'!T.R!&3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N)SY!<')I;`T*("`@ M#0H@("`@("`@("`@("`@(#,P+"`R,#$Q/"]F;VYT/@T*(`T*("`@("`@("`@ M("`@/"]D:78^#0H@("`@(`T*("`@("`@("`@(#PO=&0^#0H@(`T*("`@("`@ M("`@(#QT9"!N;W=R87`],T1N;W=R87`@=F%L:6=N/3-$8F]T=&]M('-T>6QE M/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#`N-7!T('-O;&ED.R!415A4+4%, M24=..B!L969T)SX-"B`@#0H@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$ M25-03$%9.B!I;FQI;F4[($9/3E0M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ M('1I;65S(&YE=R!R;VUA;B<^)B,Q-C`[/"]F;VYT/@T*("`@(`T*("`@("`@ M("`@(#PO=&0^#0H@(`T*("`@("`@("`\+W1R/@T*("`@("`-"B`@("`@("`@ M/'1R/@T*("`@(`T*("`@("`@("`@(#QT9"!V86QI9VX],T1B;W1T;VT@6QE/3-$)T1)4U!,05DZ(&)L;V-K.R!- M05)'24XM3$5&5#H@,'!T.R!415A4+4E.1$5.5#H@,'!T.R!-05)'24XM4DE' M2%0Z(#!P="<@86QI9VX],T1C96YT97(^#0H@(`T*("`@("`@("`@("`@("`\ M9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M4TE:13H@,3!P M=#L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;B<^26YT86YG:6)L90T* M("`@#0H@("`@("`@("`@("`@($%S6QE M/3-$)U!!1$1)3D6QE/3-$)T1)4U!,05DZ(&)L;V-K.R!- M05)'24XM3$5&5#H@,'!T.R!415A4+4E.1$5.5#H@,'!T.R!-05)'24XM4DE' M2%0Z(#!P="<@86QI9VX],T1C96YT97(^#0H@(`T*("`@("`@("`@("`@("`\ M9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M4TE:13H@,3!P M=#L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;B<^17-T:6UA=&5D/"]F M;VYT/@T*("`@("`-"B`@("`@("`@("`@(#PO9&EV/@T*("`@("`-"B`@("`@ M("`@("`@(#QD:78@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4 M+49!34E,63H@=&EM97,@;F5W(')O;6%N)SY56QE/3-$)T)/ M4D1%4BU"3U143TTZ(&)L86-K(#`N-7!T('-O;&ED.R!415A4+4%,24=..B!L M969T)SX-"B`@#0H@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9 M.B!I;FQI;F4[($9/3E0M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ('1I;65S M(&YE=R!R;VUA;B<^)B,Q-C`[/"]F;VYT/@T*("`@(`T*("`@("`@("`@(#PO M=&0^#0H@(`T*("`@("`@("`@(#QT9"!V86QI9VX],T1B;W1T;VT@6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#`N-7!T('-O;&ED)SX-"B`- M"B`@("`@("`@("`@(#QD:78@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T M.R!&3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N)SY'6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@ M1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N M)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@ M("`@("`@("`@/'1D('9A;&EG;CTS1&)O='1O;2!S='EL93TS1"=0041$24Y' M+4)/5%1/33H@,"XU<'0G/@T*("`-"B`@("`@("`@("`@(#QF;VYT('-T>6QE M/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4+49! M34E,63H@=&EM97,@;F5W(')O;6%N)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@ M("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D(&-O;'-P86X],T0R M(&YO=W)A<#TS1&YO=W)A<"!V86QI9VX],T1B;W1T;VT@6QE/3-$)T1)4U!, M05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@=&EM M97,@;F5W(')O;6%N)SY!;6]R=&EZ871I;VX\+V9O;G0^#0H@("`-"B`@("`@ M("`@("`@(#PO9&EV/@T*("`@("`-"B`@("`@("`@("`\+W1D/@T*("`-"B`@ M("`@("`@("`\=&0@;F]W6QE/3-$)U!!1$1)3D6QE/3-$)T1)4U!,05DZ M(&)L;V-K.R!-05)'24XM3$5&5#H@,'!T.R!415A4+4E.1$5.5#H@,'!T.R!- M05)'24XM4DE'2%0Z(#!P="<@86QI9VX],T1C96YT97(^#0H@(`T*("`@("`@ M("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;B<^1W)O M6EN9SPO9F]N=#X-"B`-"B`@ M("`@("`@("`@(#PO9&EV/@T*("`@("`-"B`@("`@("`@("`@(#QD:78@6QE/3-$)T1)4U!,05DZ M(&EN;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@=&EM97,@ M;F5W(')O;6%N)SY!;6]U;G0\+V9O;G0^#0H@(`T*("`@("`@("`@("`@/"]D M:78^#0H@("`@(`T*("`@("`@("`@(#PO=&0^#0H@(`T*("`@("`@("`@(#QT M9"!N;W=R87`],T1N;W=R87`@=F%L:6=N/3-$8F]T=&]M('-T>6QE/3-$)T)/ M4D1%4BU"3U143TTZ(&)L86-K(#`N-7!T('-O;&ED.R!415A4+4%,24=..B!L M969T)SX-"B`@#0H@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9 M.B!I;FQI;F4[($9/3E0M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ('1I;65S M(&YE=R!R;VUA;B<^)B,Q-C`[/"]F;VYT/@T*("`@(`T*("`@("`@("`@(#PO M=&0^#0H@(`T*("`@("`@("`@(#QT9"!V86QI9VX],T1B;W1T;VT@6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#`N-7!T('-O;&ED)SX-"B`- M"B`@("`@("`@("`@(#QD:78@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T M.R!&3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N)SY!8V-U;75L871E9#PO M9F]N=#X-"B`@#0H@("`@("`@("`@("`\+V1I=CX-"B`@("`@#0H@("`@("`@ M("`@("`\9&EV('-T>6QE/3-$)T1)4U!,05DZ(&)L;V-K.R!-05)'24XM3$5& M5#H@,'!T.R!415A4+4E.1$5.5#H@,'!T.R!-05)'24XM4DE'2%0Z(#!P="<@ M86QI9VX],T1C96YT97(^#0H@(`T*("`@("`@("`@("`@("`\9F]N="!S='EL M93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M4TE:13H@,3!P=#L@1D].5"U& M04U)3%DZ('1I;65S(&YE=R!R;VUA;B<^06UOF%T:6]N/"]F;VYT/@T* M("`@#0H@("`@("`@("`@("`\+V1I=CX-"B`@("`@#0H@("`@("`@("`@/"]T M9#X-"B`@#0H@("`@("`@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!V86QI9VX] M,T1B;W1T;VT@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T M.R!&3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N)SXF(S$V,#L\+V9O;G0^ M#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@(#PO='(^#0H@ M("`@(`T*("`@("`@("`\='(@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T M.R!&3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N)SXF(S$V,#L\+V9O;G0^ M#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D('9A M;&EG;CTS1&)O='1O;2!W:61T:#TS1#6QE/3-$)U1%6%0M04Q)1TXZ M(')I9VAT)SX-"B`@("`-"B`@("`@("`@("`@(#QF;VYT('-T>6QE/3-$)T1) M4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@ M=&EM97,@;F5W(')O;6%N)SXQ,`T*("`@#0H@("`@("`@("`@("`F(S@R,3$[ M(#$U/"]F;VYT/@T*("`@("`-"B`@("`@("`@("`\+W1D/@T*("`-"B`@("`@ M("`@("`\=&0@;F]W6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/@T*("`@(`T*("`@ M("`@("`@("`@/&9O;G0@6QE/3-$)U1%6%0M M04Q)1TXZ(&QE9G0G/@T*("`@(`T*("`@("`@("`@("`@/&9O;G0@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U3 M25I%.B`Q,'!T.R!&3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N)SXF;F)S M<#LD/"]F;VYT/@T*("`@("`-"B`@("`@("`@("`\+W1D/@T*("`-"B`@("`@ M("`@("`\=&0@=F%L:6=N/3-$8F]T=&]M('=I9'1H/3-$-R4@6QE M/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4+49! M34E,63H@=&EM97,@;F5W(')O;6%N)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@ M("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D(&%L:6=N/3-$6QE/3-$ M)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E, M63H@=&EM97,@;F5W(')O;6%N)SXF;F)S<#LD/"]F;VYT/@T*("`@("`-"B`@ M("`@("`@("`\+W1D/@T*("`-"B`@("`@("`@("`\=&0@=F%L:6=N/3-$8F]T M=&]M('=I9'1H/3-$-R4@6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/@T*("`@ M(`T*("`@("`@("`@("`@/&9O;G0@6QE/3-$)V)A8VMG M6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D]. M5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N)SXF M(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@ M("`@("`@/'1D('9A;&EG;CTS1&)O='1O;2!W:61T:#TS1#$E('-T>6QE/3-$ M)U1%6%0M04Q)1TXZ(&QE9G0G/@T*("`@#0H@("`@("`@("`@("`\9F]N="!S M='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M4TE:13H@,3!P=#L@1D]. M5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;B<^)B,Q-C`[/"]F;VYT/@T*("`@ M(`T*("`@("`@("`@(#PO=&0^#0H@(`T*("`@("`@("`@(#QT9"!V86QI9VX] M,T1B;W1T;VT@=VED=&@],T0W)2!S='EL93TS1"=415A4+4%,24=..B!R:6=H M="<^#0H@("`@#0H@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9 M.B!I;FQI;F4[($9/3E0M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ('1I;65S M(&YE=R!R;VUA;B<^-0T*("`-"B`@("`@("`@("`@("8C.#(Q,3L@,34\+V9O M;G0^#0H@("`@(`T*("`@("`@("`@(#PO=&0^#0H@(`T*("`@("`@("`@(#QT M9"!N;W=R87`],T1N;W=R87`@=F%L:6=N/3-$8F]T=&]M('=I9'1H/3-$,24@ M6QE/3-$)T1)4U!,05DZ(&EN;&EN M93L@1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@=&EM97,@;F5W(')O M;6%N)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@ M#0H@("`@("`@("`@/'1D('9A;&EG;CTS1&)O='1O;2!W:61T:#TS1#$E('-T M>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/@T*("`@#0H@("`@("`@("`@("`\ M9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M4TE:13H@,3!P M=#L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;B<^)B,Q-C`[/"]F;VYT M/@T*("`@(`T*("`@("`@("`@(#PO=&0^#0H@(`T*("`@("`@("`@(#QT9"!V M86QI9VX],T1B;W1T;VT@=VED=&@],T0W)2!S='EL93TS1"=415A4+4%,24=. M.B!R:6=H="<^#0H@("`@#0H@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$ M25-03$%9.B!I;FQI;F4[($9/3E0M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ M('1I;65S(&YE=R!R;VUA;B<^,2PP-#`\+V9O;G0^#0H@("`@#0H@("`@("`@ M("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!V M86QI9VX],T1B;W1T;VT@=VED=&@],T0Q)2!S='EL93TS1"=415A4+4%,24=. M.B!L969T)SX-"B`@("`-"B`@("`@("`@("`@(#QF;VYT('-T>6QE/3-$)T1) M4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@ M=&EM97,@;F5W(')O;6%N)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@ M("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D(&%L:6=N/3-$6QE/3-$)T1)4U!, M05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@=&EM M97,@;F5W(')O;6%N)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@ M/"]T9#X-"B`@#0H@("`@("`@("`@/'1D('9A;&EG;CTS1&)O='1O;2!W:61T M:#TS1#6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SX-"B`@("`-"B`@ M("`@("`@("`@(#QF;VYT('-T>6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D]. M5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N)SXH M,S,P/"]F;VYT/@T*("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@ M("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!V86QI9VX],T1B;W1T;VT@=VED=&@] M,T0Q)2!S='EL93TS1"=415A4+4%,24=..B!L969T)SX-"B`@("`-"B`@("`@ M("`@("`@(#QF;VYT('-T>6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U3 M25I%.B`Q,'!T.R!&3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N)SXI/"]F M;VYT/@T*("`@("`-"B`@("`@("`@("`\+W1D/@T*("`-"B`@("`@("`@("`\ M=&0@86QI9VX],T1R:6=H="!V86QI9VX],T1B;W1T;VT@=VED=&@],T0Q)3X- M"B`@#0H@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI M;F4[($9/3E0M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R M;VUA;B<^)B,Q-C`[/"]F;VYT/@T*("`@(`T*("`@("`@("`@(#PO=&0^#0H@ M(`T*("`@("`@("`@(#QT9"!V86QI9VX],T1B;W1T;VT@=VED=&@],T0Q)2!S M='EL93TS1"=415A4+4%,24=..B!L969T)SX-"B`@(`T*("`@("`@("`@("`@ M/&9O;G0@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T M.R!&3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N)SXF(S$V,#L\+V9O;G0^ M#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D('9A M;&EG;CTS1&)O='1O;2!W:61T:#TS1#$E('-T>6QE/3-$)U1%6%0M04Q)1TXZ M(&QE9G0G/@T*("`@#0H@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-0 M3$%9.B!I;FQI;F4[($9/3E0M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ('1I M;65S(&YE=R!R;VUA;B<^)B,Q-C`[/"]F;VYT/@T*("`@(`T*("`@("`@("`@ M(#PO=&0^#0H@(`T*("`@("`@("`@(#QT9"!V86QI9VX],T1B;W1T;VT@=VED M=&@],T0W)2!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^#0H@("`@#0H@ M("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/ M3E0M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;B<^ M*#,Q,#PO9F]N=#X-"B`@(`T*("`@("`@("`@(#PO=&0^#0H@(`T*("`@("`@ M("`@(#QT9"!N;W=R87`],T1N;W=R87`@=F%L:6=N/3-$8F]T=&]M('=I9'1H M/3-$,24@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T M.R!&3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N)SXF(S$V,#L\+V9O;G0^ M#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D('9A M;&EG;CTS1&)O='1O;2!W:61T:#TS1#$E('-T>6QE/3-$)U1%6%0M04Q)1TXZ M(&QE9G0G/@T*("`@#0H@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-0 M3$%9.B!I;FQI;F4[($9/3E0M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ('1I M;65S(&YE=R!R;VUA;B<^)B,Q-C`[/"]F;VYT/@T*("`@(`T*("`@("`@("`@ M(#PO=&0^#0H@(`T*("`@("`@("`@(#QT9"!V86QI9VX],T1B;W1T;VT@=VED M=&@],T0W)2!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^#0H@("`@#0H@ M("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/ M3E0M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;B<^ M,34\+V9O;G0^#0H@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@ M/'1D(&YO=W)A<#TS1&YO=W)A<"!V86QI9VX],T1B;W1T;VT@=VED=&@],T0Q M)2!S='EL93TS1"=415A4+4%,24=..B!L969T)SX-"B`@("`-"B`@("`@("`@ M("`@(#QF;VYT('-T>6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I% M.B`Q,'!T.R!&3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N)SXF(S$V,#L\ M+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@ M/'1D(&%L:6=N/3-$6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q M,'!T.R!&3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N)SXF(S$V,#L\+V9O M;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D M('9A;&EG;CTS1&)O='1O;2!W:61T:#TS1#6QE/3-$)U1%6%0M04Q) M1TXZ(')I9VAT)SX-"B`@("`-"B`@("`@("`@("`@(#QF;VYT('-T>6QE/3-$ M)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E, M63H@=&EM97,@;F5W(')O;6%N)SXU,S`\+V9O;G0^#0H@(`T*("`@("`@("`@ M(#PO=&0^#0H@(`T*("`@("`@("`@(#QT9"!N;W=R87`],T1N;W=R87`@=F%L M:6=N/3-$8F]T=&]M('=I9'1H/3-$,24@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T.R!& M3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N)SXF(S$V,#L\+V9O;G0^#0H@ M("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D('9A;&EG M;CTS1&)O='1O;2!W:61T:#TS1#$E('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE M9G0G/@T*("`@#0H@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9 M.B!I;FQI;F4[($9/3E0M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ('1I;65S M(&YE=R!R;VUA;B<^)B,Q-C`[/"]F;VYT/@T*("`@(`T*("`@("`@("`@(#PO M=&0^#0H@(`T*("`@("`@("`@(#QT9"!V86QI9VX],T1B;W1T;VT@=VED=&@] M,T0W)2!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^#0H@("`@#0H@("`@ M("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;B<^*#$S M.#PO9F]N=#X-"B`@(`T*("`@("`@("`@(#PO=&0^#0H@(`T*("`@("`@("`@ M(#QT9"!N;W=R87`],T1N;W=R87`@=F%L:6=N/3-$8F]T=&]M('=I9'1H/3-$ M,24@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T M.R!&3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N)SXF(S$V,#L\+V9O;G0^ M#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D('9A M;&EG;CTS1&)O='1O;2!W:61T:#TS1#6QE/3-$)U1%6%0M04Q)1TXZ M(')I9VAT)SX-"B`@("`-"B`@("`@("`@("`@(#QF;VYT('-T>6QE/3-$)T1) M4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@ M=&EM97,@;F5W(')O;6%N)SXU,S`\+V9O;G0^#0H@(`T*("`@("`@("`@(#PO M=&0^#0H@(`T*("`@("`@("`@(#QT9"!N;W=R87`],T1N;W=R87`@=F%L:6=N M/3-$8F]T=&]M('=I9'1H/3-$,24@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4 M+49!34E,63H@=&EM97,@;F5W(')O;6%N)SXF(S$V,#L\+V9O;G0^#0H@("`@ M#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D('9A;&EG;CTS M1&)O='1O;2!W:61T:#TS1#$E('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G M/@T*("`@#0H@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I M;FQI;F4[($9/3E0M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ('1I;65S(&YE M=R!R;VUA;B<^)B,Q-C`[/"]F;VYT/@T*("`@(`T*("`@("`@("`@(#PO=&0^ M#0H@(`T*("`@("`@("`@(#QT9"!V86QI9VX],T1B;W1T;VT@=VED=&@],T0W M)2!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^#0H@("`@#0H@("`@("`@ M("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M4TE: M13H@,3!P=#L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;B<^*#$R.3PO M9F]N=#X-"B`@(`T*("`@("`@("`@(#PO=&0^#0H@(`T*("`@("`@("`@(#QT M9"!N;W=R87`],T1N;W=R87`@=F%L:6=N/3-$8F]T=&]M('=I9'1H/3-$,24@ M6QE/3-$)T1) M4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@ M=&EM97,@;F5W(')O;6%N)SY496-H;F]L;V=I97,\+V9O;G0^#0H@("`-"B`@ M("`@("`@("`@(#PO9&EV/@T*("`@("`-"B`@("`@("`@("`\+W1D/@T*("`- M"B`@("`@("`@("`\=&0@=F%L:6=N/3-$8F]T=&]M('=I9'1H/3-$,24^#0H@ M("`-"B`@("`@("`@("`@(#QF;VYT('-T>6QE/3-$)T1)4U!,05DZ(&EN;&EN M93L@1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@=&EM97,@;F5W(')O M;6%N)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@ M#0H@("`@("`@("`@/'1D('9A;&EG;CTS1&)O='1O;2!W:61T:#TS1#$E('-T M>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/@T*("`@#0H@("`@("`@("`@("`\ M9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M4TE:13H@,3!P M=#L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;B<^)B,Q-C`[/"]F;VYT M/@T*("`@(`T*("`@("`@("`@(#PO=&0^#0H@(`T*("`@("`@("`@(#QT9"!V M86QI9VX],T1B;W1T;VT@=VED=&@],T0W)2!S='EL93TS1"=415A4+4%,24=. M.B!R:6=H="<^#0H@("`@#0H@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$ M25-03$%9.B!I;FQI;F4[($9/3E0M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ M('1I;65S(&YE=R!R;VUA;B<^,3,-"B`@(`T*("`@("`@("`@("`@)B,X,C$Q M.R`Q-3PO9F]N=#X-"B`@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@ M("`@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!V86QI9VX],T1B;W1T;VT@=VED M=&@],T0Q)2!S='EL93TS1"=415A4+4%,24=..B!L969T)SX-"B`@("`-"B`@ M("`@("`@("`@(#QF;VYT('-T>6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D]. M5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N)SXF M(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@ M("`@("`@/'1D(&%L:6=N/3-$6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U3 M25I%.B`Q,'!T.R!&3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N)SXF(S$V M,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@ M("`@/'1D('9A;&EG;CTS1&)O='1O;2!W:61T:#TS1#6QE/3-$)U1% M6%0M04Q)1TXZ(')I9VAT)SX-"B`@("`-"B`@("`@("`@("`@(#QF;VYT('-T M>6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4 M+49!34E,63H@=&EM97,@;F5W(')O;6%N)SXT-S4\+V9O;G0^#0H@(`T*("`@ M("`@("`@(#PO=&0^#0H@(`T*("`@("`@("`@(#QT9"!N;W=R87`],T1N;W=R M87`@=F%L:6=N/3-$8F]T=&]M('=I9'1H/3-$,24@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q M,'!T.R!&3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N)SXF(S$V,#L\+V9O M;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D M('9A;&EG;CTS1&)O='1O;2!W:61T:#TS1#$E('-T>6QE/3-$)U1%6%0M04Q) M1TXZ(&QE9G0G/@T*("`@#0H@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$ M25-03$%9.B!I;FQI;F4[($9/3E0M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ M('1I;65S(&YE=R!R;VUA;B<^)B,Q-C`[/"]F;VYT/@T*("`@(`T*("`@("`@ M("`@(#PO=&0^#0H@(`T*("`@("`@("`@(#QT9"!V86QI9VX],T1B;W1T;VT@ M=VED=&@],T0W)2!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^#0H@("`@ M#0H@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[ M($9/3E0M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA M;B<^*#DY/"]F;VYT/@T*("`-"B`@("`@("`@("`\+W1D/@T*("`-"B`@("`@ M("`@("`\=&0@;F]W6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/@T*("`@(`T*("`@ M("`@("`@("`@/&9O;G0@6QE/3-$)T1)4U!,05DZ(&EN M;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@=&EM97,@;F5W M(')O;6%N)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X- M"B`@#0H@("`@("`@("`@/'1D('9A;&EG;CTS1&)O='1O;2!W:61T:#TS1#$E M('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/@T*("`@#0H@("`@("`@("`@ M("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M4TE:13H@ M,3!P=#L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;B<^)B,Q-C`[/"]F M;VYT/@T*("`@(`T*("`@("`@("`@(#PO=&0^#0H@(`T*("`@("`@("`@(#QT M9"!V86QI9VX],T1B;W1T;VT@=VED=&@],T0W)2!S='EL93TS1"=415A4+4%, M24=..B!R:6=H="<^#0H@("`@#0H@("`@("`@("`@("`\9F]N="!S='EL93TS M1"=$25-03$%9.B!I;FQI;F4[($9/3E0M4TE:13H@,3!P=#L@1D].5"U&04U) M3%DZ('1I;65S(&YE=R!R;VUA;B<^-#6QE/3-$)U1%6%0M04Q)1TXZ M(&QE9G0G/@T*("`@(`T*("`@("`@("`@("`@/&9O;G0@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I% M.B`Q,'!T.R!&3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N)SXI/"]F;VYT M/@T*("`@("`-"B`@("`@("`@("`\+W1D/@T*("`-"B`@("`@("`@/"]T6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I% M.B`Q,'!T.R!&3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N)SXF(S$V,#L\ M+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@ M/'1D('9A;&EG;CTS1&)O='1O;2!W:61T:#TS1#$E('-T>6QE/3-$)U!!1$1) M3D#L@5$585"U!3$E'3CH@6QE/3-$)T1)4U!,05DZ(&EN;&EN M93L@1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@=&EM97,@;F5W(')O M;6%N)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@ M#0H@("`@("`@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!V86QI9VX],T1B;W1T M;VT@=VED=&@],T0Q)2!S='EL93TS1"=0041$24Y'+4)/5%1/33H@-'!X.R!4 M15A4+4%,24=..B!L969T)SX-"B`@("`@#0H@("`@("`@("`@("`\9F]N="!S M='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M4TE:13H@,3!P=#L@1D]. M5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;B<^)B,Q-C`[/"]F;VYT/@T*("`@ M(`T*("`@("`@("`@(#PO=&0^#0H@(`T*("`@("`@("`@(#QT9"!A;&EG;CTS M1')I9VAT('9A;&EG;CTS1&)O='1O;2!W:61T:#TS1#$E('-T>6QE/3-$)U!! M1$1)3D6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T.R!& M3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N)SXF(S$V,#L\+V9O;G0^#0H@ M("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D('9A;&EG M;CTS1&)O='1O;2!W:61T:#TS1#$E('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ M(&)L86-K(#(N,C5P="!D;W5B;&4[(%1%6%0M04Q)1TXZ(&QE9G0G/@T*("`@ M(`T*("`@("`@("`@("`@/&9O;G0@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U3 M25I%.B`Q,'!T.R!&3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N)SXF;F)S M<#LD/"]F;VYT/@T*("`@("`-"B`@("`@("`@("`\+W1D/@T*("`-"B`@("`@ M("`@("`\=&0@=F%L:6=N/3-$8F]T=&]M('=I9'1H/3-$-R4@6QE/3-$ M)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E, M63H@=&EM97,@;F5W(')O;6%N)SXH.#4R/"]F;VYT/@T*("`@#0H@("`@("`@ M("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!V M86QI9VX],T1B;W1T;VT@=VED=&@],T0Q)2!S='EL93TS1"="3U)$15(M0D]4 M5$]-.B!B;&%C:R`R+C(U<'0@9&]U8FQE.R!415A4+4%,24=..B!L969T)SX- M"B`@("`@#0H@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I M;FQI;F4[($9/3E0M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ('1I;65S(&YE M=R!R;VUA;B<^*3PO9F]N=#X-"B`@("`@#0H@("`@("`@("`@/"]T9#X-"B`@ M#0H@("`@("`@("`@/'1D(&%L:6=N/3-$"<^#0H@ M("`@(`T*("`@("`@("`@("`@/&9O;G0@6QE/3-$)T)/4D1%4BU"3U143TTZ M(&)L86-K(#(N,C5P="!D;W5B;&4[(%1%6%0M04Q)1TXZ(')I9VAT)SX-"B`@ M("`@#0H@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI M;F4[($9/3E0M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R M;VUA;B<^,BPX.3<\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@ M#0H@("`@("`@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!V86QI9VX],T1B;W1T M;VT@=VED=&@],T0Q)2!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`R M+C(U<'0@9&]U8FQE.R!415A4+4%,24=..B!L969T)SX-"B`@("`@#0H@("`@ M("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;B<^)B,Q M-C`[/"]F;VYT/@T*("`@(`T*("`@("`@("`@(#PO=&0^#0H@(`T*("`@("`@ M("`@(#QT9"!A;&EG;CTS1')I9VAT('9A;&EG;CTS1&)O='1O;2!W:61T:#TS M1#$E('-T>6QE/3-$)U!!1$1)3D6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D]. M5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N)SXF M(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@ M("`@("`@/'1D('9A;&EG;CTS1&)O='1O;2!W:61T:#TS1#$E('-T>6QE/3-$ M)T)/4D1%4BU"3U143TTZ(&)L86-K(#(N,C5P="!D;W5B;&4[(%1%6%0M04Q) M1TXZ(&QE9G0G/@T*("`@(`T*("`@("`@("`@("`@/&9O;G0@6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#(N,C5P="!D;W5B M;&4[(%1%6%0M04Q)1TXZ(&QE9G0G/@T*("`@("`-"B`@("`@("`@("`@(#QF M;VYT('-T>6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T M.R!&3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N)SXI/"]F;VYT/@T*("`@ M("`-"B`@("`@("`@("`\+W1D/@T*("`-"B`@("`@("`@/"]TF%T M:6]N(&5X<&5N6QE/3-$)T)/4D1%4BU"3U143TTZ M(&)L86-K(#`N-7!T('-O;&ED)SX-"B`-"B`@("`@("`@("`@(#QD:78@6QE/3-$)T1)4U!,05DZ M(&EN;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@=&EM97,@ M;F5W(')O;6%N)SY!;6]U;G1S/"]F;VYT/@T*("`@#0H@("`@("`@("`@("`\ M+V1I=CX-"B`@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@ M/'1D(&YO=W)A<#TS1&YO=W)A<"!V86QI9VX],T1B;W1T;VT@6QE/3-$)T1)4U!, M05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@=&EM M97,@;F5W(')O;6%N)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@ M/"]T9#X-"B`@#0H@("`@("`@(#PO='(^#0H@("`@(`T*("`@("`@("`\='(@ M6QE/3-$)T1)4U!,05DZ(&)L;V-K M.R!-05)'24XM3$5&5#H@,'!T.R!415A4+4E.1$5.5#H@,'!T.R!-05)'24XM M4DE'2%0Z(#!P="<@86QI9VX],T1J=7-T:69Y/@T*("`@#0H@("`@("`@("`@ M("`@(#QF;VYT('-T>6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I% M.B`Q,'!T.R!&3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N)SXR,#$R#0H@ M(`T*("`@("`@("`@("`@("`H6QE/3-$ M)U1%6%0M04Q)1TXZ(&QE9G0G/@T*("`@(`T*("`@("`@("`@("`@/&9O;G0@ M3X-"B`@(`T* M("`@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[ M($9/3E0M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA M;B<^,C`Q,SPO9F]N=#X-"B`@("`@#0H@("`@("`@("`@("`\+V1I=CX-"B`@ M("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D(&%L:6=N M/3-$6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4 M+49!34E,63H@=&EM97,@;F5W(')O;6%N)SXF(S$V,#L\+V9O;G0^#0H@("`@ M#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D('9A;&EG;CTS M1&)O='1O;2!W:61T:#TS1#6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT M)SX-"B`@("`-"B`@("`@("`@("`@(#QF;VYT('-T>6QE/3-$)T1)4U!,05DZ M(&EN;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@=&EM97,@ M;F5W(')O;6%N)SXR,#(\+V9O;G0^#0H@(`T*("`@("`@("`@(#PO=&0^#0H@ M(`T*("`@("`@("`@(#QT9"!N;W=R87`],T1N;W=R87`@=F%L:6=N/3-$8F]T M=&]M('=I9'1H/3-$,24@6QE/3-$ M)V)A8VMG3X-"B`@(`T*("`@("`@("`@("`@("`\9F]N M="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M4TE:13H@,3!P=#L@ M1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;B<^,C`Q-#PO9F]N=#X-"B`@ M("`@#0H@("`@("`@("`@("`\+V1I=CX-"B`@("`@#0H@("`@("`@("`@/"]T M9#X-"B`@#0H@("`@("`@("`@/'1D(&%L:6=N/3-$6QE/3-$)T1)4U!,05DZ(&EN M;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@=&EM97,@;F5W M(')O;6%N)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X- M"B`@#0H@("`@("`@("`@/'1D('9A;&EG;CTS1&)O='1O;2!W:61T:#TS1#6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SX-"B`@("`-"B`@("`@("`@ M("`@(#QF;VYT('-T>6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I% M.B`Q,'!T.R!&3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N)SXR,#(\+V9O M;G0^#0H@(`T*("`@("`@("`@(#PO=&0^#0H@(`T*("`@("`@("`@(#QT9"!N M;W=R87`],T1N;W=R87`@=F%L:6=N/3-$8F]T=&]M('=I9'1H/3-$,24@6QE/3-$)V)A8VMG6QE/3-$ M)T1)4U!,05DZ(&)L;V-K.R!-05)'24XM3$5&5#H@,'!T.R!415A4+4E.1$5. M5#H@,'!T.R!-05)'24XM4DE'2%0Z(#!P="<@86QI9VX],T1J=7-T:69Y/@T* M("`@#0H@("`@("`@("`@("`@(#QF;VYT('-T>6QE/3-$)T1)4U!,05DZ(&EN M;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@=&EM97,@;F5W M(')O;6%N)SXR,#$U/"]F;VYT/@T*("`@("`-"B`@("`@("`@("`@(#PO9&EV M/@T*("`@("`-"B`@("`@("`@("`\+W1D/@T*("`-"B`@("`@("`@("`\=&0@ M86QI9VX],T1R:6=H="!V86QI9VX],T1B;W1T;VT@=VED=&@],T0Q)3X-"B`@ M#0H@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[ M($9/3E0M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA M;B<^)B,Q-C`[/"]F;VYT/@T*("`@(`T*("`@("`@("`@(#PO=&0^#0H@(`T* M("`@("`@("`@(#QT9"!V86QI9VX],T1B;W1T;VT@=VED=&@],T0Q)2!S='EL M93TS1"=415A4+4%,24=..B!L969T)SX-"B`@(`T*("`@("`@("`@("`@/&9O M;G0@6QE/3-$)T1)4U!,05DZ M(&EN;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@=&EM97,@ M;F5W(')O;6%N)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T M9#X-"B`@#0H@("`@("`@(#PO='(^#0H@("`@(`T*("`@("`@("`\='(@6QE/3-$)T1)4U!,05DZ(&)L;V-K.R!- M05)'24XM3$5&5#H@,'!T.R!415A4+4E.1$5.5#H@,'!T.R!-05)'24XM4DE' M2%0Z(#!P="<@86QI9VX],T1J=7-T:69Y/@T*("`@#0H@("`@("`@("`@("`@ M(#QF;VYT('-T>6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q M,'!T.R!&3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N)SXR,#$V/"]F;VYT M/@T*("`@("`-"B`@("`@("`@("`@(#PO9&EV/@T*("`@("`-"B`@("`@("`@ M("`\+W1D/@T*("`-"B`@("`@("`@("`\=&0@86QI9VX],T1R:6=H="!V86QI M9VX],T1B;W1T;VT@=VED=&@],T0Q)3X-"B`@#0H@("`@("`@("`@("`\9F]N M="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M4TE:13H@,3!P=#L@ M1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;B<^)B,Q-C`[/"]F;VYT/@T* M("`@(`T*("`@("`@("`@(#PO=&0^#0H@(`T*("`@("`@("`@(#QT9"!V86QI M9VX],T1B;W1T;VT@=VED=&@],T0Q)2!S='EL93TS1"=415A4+4%,24=..B!L M969T)SX-"B`@(`T*("`@("`@("`@("`@/&9O;G0@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I% M.B`Q,'!T.R!&3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N)SXF(S$V,#L\ M+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@(#PO M='(^#0H@("`@(`T*("`@("`@/"]T86)L93X\8G(O/CQD:78@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D]. M5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@5&EM97,@3F5W(%)O;6%N)SY4 M:&4-"B`@(`T*("`@("`@8V%R2`S,2P-"B`@("`@#0H@("`@("`R M,#$Q(&%N9"!!<')I;"`S,"P@,C`Q,2!W87,@87!P0T*("`@ M#0H@("`@("`F;F)S<#LD,2PY-#(L,#`P+B8C,38P.R8C,38P.U1H97)E('=E M"8C.#(R,3LI(&%N9`T*(`T*("`@("`@34)" M4RP@4RY!+B`H)B,X,C(P.TU"0E,F(S@R,C$[*2!A8W%U:7-I=&EO;G,@:6X@ M9FES8V%L('EE87)S#0H@("`@(`T*("`@("`@,C`P."!A;F0@,C`Q,"P@'0O:F%V87-C3X- M"B`@("`\=&%B;&4@8VQA2!$:7-C M;&]S=7)E(%M497AT($)L;V-K73PO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/&1I=B!S='EL93TS1"=$25-03$%9.B!B;&]C:SL@34%21TE.+4Q% M1E0Z(#!P=#L@5$585"U)3D1%3E0Z(#!P=#L@34%21TE.+5))1TA4.B`P<'0G M(&%L:6=N/3-$;&5F=#X-"B`@(`T*("`@("`@/&9O;G0@2`S,2P@,C`Q,2!A M;F0@07!R:6P@,S`L(#(P,3$L#0H@("`-"B`@("`@(')E2!A M2!M86IO6QE/3-$)U!! M1$1)3D6QE/3-$)T1) M4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@ M=&EM97,@;F5W(')O;6%N)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@ M("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D(&%L:6=N/3-$6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T M.R!&3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N)SY*=6QY#0H@(`T*("`@ M("`@("`@("`@("`S,2P@,C`Q,3PO9F]N=#X-"B`-"B`@("`@("`@("`@(#PO M9&EV/@T*("`@("`-"B`@("`@("`@("`\+W1D/@T*("`-"B`@("`@("`@("`\ M=&0@;F]W6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@ M1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N M)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@ M("`@("`@("`@/'1D(&%L:6=N/3-$6QE/3-$)T1) M4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@ M=&EM97,@;F5W(')O;6%N)SY!<')I;`T*("`@#0H@("`@("`@("`@("`@(#,P M+"`R,#$Q/"]F;VYT/@T*(`T*("`@("`@("`@("`@/"]D:78^#0H@("`@(`T* M("`@("`@("`@(#PO=&0^#0H@(`T*("`@("`@("`@(#QT9"!N;W=R87`],T1N M;W=R87`@=F%L:6=N/3-$8F]T=&]M('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ M(&)L86-K(#`N-7!T('-O;&ED.R!415A4+4%,24=..B!L969T)SX-"B`@#0H@ M("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/ M3E0M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;B<^ M)B,Q-C`[/"]F;VYT/@T*("`@(`T*("`@("`@("`@(#PO=&0^#0H@(`T*("`@ M("`@("`\+W1R/@T*("`@("`-"B`@("`@("`@/'1R('-T>6QE/3-$)V)A8VMG M6QE/3-$)T1)4U!,05DZ(&)L;V-K.R!- M05)'24XM3$5&5#H@,'!T.R!415A4+4E.1$5.5#H@,'!T.R!-05)'24XM4DE' M2%0Z(#!P="<@86QI9VX],T1L969T/@T*("`@("`-"B`@("`@("`@("`@("`@ M/&9O;G0@6QE/3-$ M)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E, M63H@=&EM97,@;F5W(')O;6%N)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@ M("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D(&%L:6=N/3-$6QE/3-$)T1) M4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@ M=&EM97,@;F5W(')O;6%N)SXF;F)S<#LD/"]F;VYT/@T*("`@("`-"B`@("`@ M("`@("`\+W1D/@T*("`-"B`@("`@("`@("`\=&0@=F%L:6=N/3-$8F]T=&]M M('=I9'1H/3-$-R4@6QE/3-$)V)A M8VMG6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q M,'!T.R!&3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N)SXF(S$V,#L\+V9O M;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D M('9A;&EG;CTS1&)O='1O;2!W:61T:#TS1#$E('-T>6QE/3-$)U1%6%0M04Q) M1TXZ(&QE9G0G/@T*("`@#0H@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$ M25-03$%9.B!I;FQI;F4[($9/3E0M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ M('1I;65S(&YE=R!R;VUA;B<^)B,Q-C`[/"]F;VYT/@T*("`@(`T*("`@("`@ M("`@(#PO=&0^#0H@(`T*("`@("`@("`@(#QT9"!V86QI9VX],T1B;W1T;VT@ M=VED=&@],T0W)2!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^#0H@("`@ M#0H@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[ M($9/3E0M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA M;B<^.3@R/"]F;VYT/@T*("`-"B`@("`@("`@("`\+W1D/@T*("`-"B`@("`@ M("`@("`\=&0@;F]W6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/@T*("`@(`T*("`@ M("`@("`@("`@/&9O;G0@6QE/3-$ M)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E, M63H@=&EM97,@;F5W(')O;6%N)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@ M("`@("`@/"]T9#X-"B`@#0H@("`@("`@(#PO='(^#0H@("`@(`T*("`@("`@ M("`\='(@6QE/3-$)U!!1$1)3D6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D]. M5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N)SXR M+#(S-#PO9F]N=#X-"B`@("`-"B`@("`@("`@("`\+W1D/@T*("`-"B`@("`@ M("`@("`\=&0@;F]W6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#`N-S5P="!S M;VQI9#L@5$585"U!3$E'3CH@;&5F="<^#0H@("`@#0H@("`@("`@("`@("`\ M9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M4TE:13H@,3!P M=#L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;B<^)B,Q-C`[/"]F;VYT M/@T*("`@(`T*("`@("`@("`@(#PO=&0^#0H@(`T*("`@("`@("`@(#QT9"!A M;&EG;CTS1')I9VAT('9A;&EG;CTS1&)O='1O;2!W:61T:#TS1#$E('-T>6QE M/3-$)U!!1$1)3D6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q M,'!T.R!&3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N)SXF(S$V,#L\+V9O M;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D M('9A;&EG;CTS1&)O='1O;2!W:61T:#TS1#$E('-T>6QE/3-$)T)/4D1%4BU" M3U143TTZ(&)L86-K(#`N-S5P="!S;VQI9#L@5$585"U!3$E'3CH@;&5F="<^ M#0H@("`-"B`@("`@("`@("`@(#QF;VYT('-T>6QE/3-$)T1)4U!,05DZ(&EN M;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@=&EM97,@;F5W M(')O;6%N)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X- M"B`@#0H@("`@("`@("`@/'1D('9A;&EG;CTS1&)O='1O;2!W:61T:#TS1#6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#`N-S5P="!S;VQI9#L@ M5$585"U!3$E'3CH@6QE/3-$)T1) M4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@ M=&EM97,@;F5W(')O;6%N)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@ M("`@/"]T9#X-"B`@#0H@("`@("`@(#PO='(^#0H@("`@(`T*("`@("`@("`\ M='(@6QE M/3-$)U!!1$1)3D6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q M,'!T.R!&3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N)SXF(S$V,#L\+V9O M;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D M('9A;&EG;CTS1&)O='1O;2!W:61T:#TS1#$E('-T>6QE/3-$)T)/4D1%4BU" M3U143TTZ(&)L86-K(#(N,C5P="!D;W5B;&4[(%1%6%0M04Q)1TXZ(&QE9G0G M/@T*("`@(`T*("`@("`@("`@("`@/&9O;G0@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@ M1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N M)SXF;F)S<#LD/"]F;VYT/@T*("`@("`-"B`@("`@("`@("`\+W1D/@T*("`- M"B`@("`@("`@("`\=&0@=F%L:6=N/3-$8F]T=&]M('=I9'1H/3-$-R4@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4 M+49!34E,63H@=&EM97,@;F5W(')O;6%N)SXU+#@X,#PO9F]N=#X-"B`@("`- M"B`@("`@("`@("`\+W1D/@T*("`-"B`@("`@("`@("`\=&0@;F]W6QE/3-$)T)/ M4D1%4BU"3U143TTZ(&)L86-K(#(N,C5P="!D;W5B;&4[(%1%6%0M04Q)1TXZ M(&QE9G0G/@T*("`@("`-"B`@("`@("`@("`@(#QF;VYT('-T>6QE/3-$)T1) M4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@ M=&EM97,@;F5W(')O;6%N)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@ M("`@/"]T9#X-"B`@#0H@("`@("`@(#PO='(^#0H@("`@(`T*("`@("`@/"]T M86)L93X\8G(O/CQS<&%N/CPO7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T* M#0H\:'1M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O M;G1E;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA6QE M/3-$)T1)4U!,05DZ(&)L;V-K.R!-05)'24XM3$5&5#H@,'!T.R!415A4+4E. M1$5.5#H@,'!T.R!-05)'24XM4DE'2%0Z(#!P="<@86QI9VX],T1L969T/@T* M("`@#0H@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/ M3E0M5T5)1TA4.B!B;VQD.R!&3TY4+5-)6D4Z(#$P<'0[($9/3E0M1D%-24Q9 M.B!4:6UE2!H860@='=O(&5Q=6ET>2UB87-E9"!C;VUP M96YS871I;VX-"B`@#0H@("`@("!P;&%N2XF(S$V,#LF(S$V,#M4:&5S92!S=&]C:RUB M87-E9"!C;VUP96YS871I;VX@<&QA;G,-"B`-"B`@("`@(&EN8VQU9&4@=&AE M.B`H:2D@,3DY,2!3=&]C:R!/<'1I;VX@4&QA;B`H=&AE("8C.#(R,#LQ.3DQ M#0H@(`T*("`@("`@4&QA;B8C.#(R,3LI(&%N9"`H:6DI(#(P,3`@17%U:71Y M($EN8V5N=&EV92!0;&%N("AT:&4-"B`@("`-"B`@("`@("8C.#(R,#LR,#$P M(%!L86XF(S@R,C$[*2X\+V9O;G0^#0H@("`-"B`@("`\+V1I=CX\8G(O/CQD M:78@2!M87D@8F4@9W)A;G1E9"!T;R!K97D@96UP;&]Y965S+"!D:7)E8W1O2P@870@ M=&AE(&1I2!T:&4@0F]A2P@=&AE&5R8VES M86)L92!A;F0@=F5S="!O=F5R(&]N92!T;R!F:79E('EE87)S#0H@("`@(`T* M("`@("`@86YD(&5X<&ER92!W:71H:6X@,3`@>65A6QE/3-$)T1)4U!, M05DZ(&)L;V-K.R!-05)'24XM3$5&5#H@,'!T.R!415A4+4E.1$5.5#H@,S9P M=#L@34%21TE.+5))1TA4.B`P<'0G(&%L:6=N/3-$;&5F=#X-"B`-"B`@("`@ M(#QF;VYT('-T>6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q M,'!T.R!&3TY4+49!34E,63H@5&EM97,@3F5W(%)O;6%N)SY4:&4-"B`@(`T* M("`@("`@,C`Q,"!0;&%N(&ES(&%N(&]M;FEB=7,@<&QA;B!T:&%T(&%L;&]W M2UB87-E9"!A=V%R9',-"B`@(`T*("`@("`@<&%Y86)L92!I M;B!C87-H(&]R('-T;V-K('1O(&]F9FEC97)S+"!D:7)E8W1O0T* M("`@(`T*("`@("`@96UP;&]Y965S(&%N9"!O=&AE2!T:&4-"B`@("`@#0H@("`@("!";V%R9"!O9B!$:7)E M8W1O6QE/3-$)T1)4U!,05DZ(&)L;V-K.R!-05)'24XM3$5&5#H@ M,'!T.R!415A4+4E.1$5.5#H@,S9P=#L@34%21TE.+5))1TA4.B`P<'0G(&%L M:6=N/3-$;&5F=#X-"B`-"B`@("`@(#QF;VYT('-T>6QE/3-$)T1)4U!,05DZ M(&EN;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@5&EM97,@ M3F5W(%)O;6%N)SY4:&4-"B`@(`T*("`@("`@0V]M<&%N>2!A8V-O=6YT2!E>'!E8W1E9"!T;PT*("`@("`-"B`@("`@('9E'!E;G-E(&]V97(@=&AE(')E<75I6QE/3-$)T1)4U!,05DZ(&)L;V-K.R!-05)'24XM3$5&5#H@,'!T M.R!415A4+4E.1$5.5#H@,S9P=#L@34%21TE.+5))1TA4.B`P<'0G(&%L:6=N M/3-$;&5F=#X-"B`-"B`@("`@(#QF;VYT('-T>6QE/3-$)T1)4U!,05DZ(&EN M;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@5&EM97,@3F5W M(%)O;6%N)SY4:&4-"B`@(`T*("`@("`@9F%I2`S,2P@,C`Q M,2!A;F0@,C`Q,"X\+V9O;G0^#0H@("`@#0H@("`@/"]D:78^/&)R+SX\=&%B M;&4@8V5L;'!A9&1I;F<],T0P(&-E;&QS<&%C:6YG/3-$,"!W:61T:#TS1#$P M,"4^#0H@("`@(`T*("`@("`@("`\='(^#0H@("`@#0H@("`@("`@("`@/'1D M('9A;&EG;CTS1&)O='1O;2!S='EL93TS1"=0041$24Y'+4)/5%1/33H@,"XU M<'0G/@T*("`-"B`@("`@("`@("`@(#QF;VYT('-T>6QE/3-$)T1)4U!,05DZ M(&EN;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@=&EM97,@ M;F5W(')O;6%N)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T M9#X-"B`@#0H@("`@("`@("`@/'1D('9A;&EG;CTS1&)O='1O;2!S='EL93TS M1"=0041$24Y'+4)/5%1/33H@,"XU<'0G/@T*("`-"B`@("`@("`@("`@(#QF M;VYT('-T>6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T M.R!&3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N)SXF(S$V,#L\+V9O;G0^ M#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D(&-O M;'-P86X],T0R(&YO=W)A<#TS1&YO=W)A<"!V86QI9VX],T1B;W1T;VT@6QE/3-$)T1)4U!,05DZ(&EN M;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@=&EM97,@;F5W M(')O;6%N)SY*=6QY#0H@(`T*("`@("`@("`@("`@("`S,2P@,C`Q,3PO9F]N M=#X-"B`-"B`@("`@("`@("`@(#PO9&EV/@T*("`@("`-"B`@("`@("`@("`\ M+W1D/@T*("`-"B`@("`@("`@("`\=&0@;F]W6QE/3-$)U!!1$1)3D6QE M/3-$)T1)4U!,05DZ(&)L;V-K.R!-05)'24XM3$5&5#H@,'!T.R!415A4+4E. M1$5.5#H@,'!T.R!-05)'24XM4DE'2%0Z(#!P="<@86QI9VX],T1C96YT97(^ M#0H@(`T*("`@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I M;FQI;F4[($9/3E0M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ('1I;65S(&YE M=R!R;VUA;B<^5&AR964-"B`@(`T*("`@("`@("`@("`@("!-;VYT:',@16YD M960\+V9O;G0^#0H@("`@(`T*("`@("`@("`@("`@/"]D:78^#0H@("`@(`T* M("`@("`@("`@("`@/&1I=B!S='EL93TS1"=$25-03$%9.B!B;&]C:SL@34%2 M1TE.+4Q%1E0Z(#!P=#L@5$585"U)3D1%3E0Z(#!P=#L@34%21TE.+5))1TA4 M.B`P<'0G(&%L:6=N/3-$8V5N=&5R/@T*("`-"B`@("`@("`@("`@("`@/&9O M;G0@6QE/3-$)T)/ M4D1%4BU"3U143TTZ(&)L86-K(#`N-7!T('-O;&ED.R!415A4+4%,24=..B!L M969T)SX-"B`@#0H@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9 M.B!I;FQI;F4[($9/3E0M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ('1I;65S M(&YE=R!R;VUA;B<^)B,Q-C`[/"]F;VYT/@T*("`@(`T*("`@("`@("`@(#PO M=&0^#0H@(`T*("`@("`@("`\+W1R/@T*("`@("`-"B`@("`@("`@/'1R('-T M>6QE/3-$)V)A8VMG6QE/3-$)T1)4U!, M05DZ(&)L;V-K.R!-05)'24XM3$5&5#H@.7!T.R!415A4+4E.1$5.5#H@,'!T M.R!-05)'24XM4DE'2%0Z(#!P="<@86QI9VX],T1L969T/@T*("`@("`-"B`@ M("`@("`@("`@("`@/&9O;G0@6QE/3-$)T1) M4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@ M=&EM97,@;F5W(')O;6%N)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@ M("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D('9A;&EG;CTS1&)O='1O;2!W M:61T:#TS1#$E('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/@T*("`@#0H@ M("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/ M3E0M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;B<^ M)B,Q-C`[/"]F;VYT/@T*("`@(`T*("`@("`@("`@(#PO=&0^#0H@(`T*("`@ M("`@("`@(#QT9"!V86QI9VX],T1B;W1T;VT@=VED=&@],T0W)2!S='EL93TS M1"=415A4+4%,24=..B!R:6=H="<^#0H@("`@#0H@("`@("`@("`@("`\9F]N M="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M4TE:13H@,3!P=#L@ M1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;B<^,BXY-SPO9F]N=#X-"B`@ M(`T*("`@("`@("`@(#PO=&0^#0H@(`T*("`@("`@("`@(#QT9"!N;W=R87`] M,T1N;W=R87`@=F%L:6=N/3-$8F]T=&]M('=I9'1H/3-$,24@6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/@T*("`@(`T*("`@("`@("`@("`@ M/&9O;G0@6QE/3-$)V)A8VMG65A6QE/3-$)T1)4U!, M05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@=&EM M97,@;F5W(')O;6%N)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@ M/"]T9#X-"B`@#0H@("`@("`@("`@/'1D('9A;&EG;CTS1&)O='1O;2!W:61T M:#TS1#6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SX-"B`@("`-"B`@ M("`@("`@("`@(#QF;VYT('-T>6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D]. M5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N)SXV M/"]F;VYT/@T*("`@("`-"B`@("`@("`@("`\+W1D/@T*("`-"B`@("`@("`@ M("`\=&0@;F]W6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/@T*("`@(`T*("`@("`@ M("`@("`@/&9O;G0@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U3 M25I%.B`Q,'!T.R!&3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N)SXF(S$V M,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@ M("`@/'1D('9A;&EG;CTS1&)O='1O;2!W:61T:#TS1#$E('-T>6QE/3-$)U1% M6%0M04Q)1TXZ(&QE9G0G/@T*("`@#0H@("`@("`@("`@("`\9F]N="!S='EL M93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M4TE:13H@,3!P=#L@1D].5"U& M04U)3%DZ('1I;65S(&YE=R!R;VUA;B<^)B,Q-C`[/"]F;VYT/@T*("`@(`T* M("`@("`@("`@(#PO=&0^#0H@(`T*("`@("`@("`@(#QT9"!V86QI9VX],T1B M;W1T;VT@=VED=&@],T0W)2!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^ M#0H@("`@#0H@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I M;FQI;F4[($9/3E0M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ('1I;65S(&YE M=R!R;VUA;B<^-CPO9F]N=#X-"B`@("`@#0H@("`@("`@("`@/"]T9#X-"B`@ M#0H@("`@("`@("`@/'1D(&YO=W)A<#TS1&YO=W)A<"!V86QI9VX],T1B;W1T M;VT@=VED=&@],T0Q)2!S='EL93TS1"=415A4+4%,24=..B!L969T)SX-"B`@ M("`-"B`@("`@("`@("`@(#QF;VYT('-T>6QE/3-$)T1)4U!,05DZ(&EN;&EN M93L@1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@=&EM97,@;F5W(')O M;6%N)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@ M#0H@("`@("`@(#PO='(^#0H@("`@(`T*("`@("`@("`\='(@3PO9F]N=#X-"B`@(`T* M("`@("`@("`@("`@/"]D:78^#0H@("`@(`T*("`@("`@("`@(#PO=&0^#0H@ M(`T*("`@("`@("`@(#QT9"!V86QI9VX],T1B;W1T;VT@=VED=&@],T0Q)3X- M"B`@(`T*("`@("`@("`@("`@/&9O;G0@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q M,'!T.R!&3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N)SXF(S$V,#L\+V9O M;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D M('9A;&EG;CTS1&)O='1O;2!W:61T:#TS1#6QE/3-$)U1%6%0M04Q) M1TXZ(')I9VAT)SX-"B`@("`-"B`@("`@("`@("`@(#QF;VYT('-T>6QE/3-$ M)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E, M63H@=&EM97,@;F5W(')O;6%N)SXW,RXT,PT*(`T*("`@("`@("`@("`@)B,X M,C$Q.R`W,RXV,3PO9F]N=#X-"B`@(`T*("`@("`@("`@(#PO=&0^#0H@(`T* M("`@("`@("`@(#QT9"!N;W=R87`],T1N;W=R87`@=F%L:6=N/3-$8F]T=&]M M('=I9'1H/3-$,24@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I% M.B`Q,'!T.R!&3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N)SY$:79I9&5N M9`T*(`T*("`@("`@("`@("`@("!Y:65L9#PO9F]N=#X-"B`@(`T*("`@("`@ M("`@("`@/"]D:78^#0H@("`@(`T*("`@("`@("`@(#PO=&0^#0H@(`T*("`@ M("`@("`@(#QT9"!V86QI9VX],T1B;W1T;VT@=VED=&@],T0Q)3X-"B`@(`T* M("`@("`@("`@("`@/&9O;G0@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T.R!& M3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N)SXF(S$V,#L\+V9O;G0^#0H@ M("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D('9A;&EG M;CTS1&)O='1O;2!W:61T:#TS1#6QE/3-$)U1%6%0M04Q)1TXZ(')I M9VAT)SX-"B`@("`-"B`@("`@("`@("`@(#QF;VYT('-T>6QE/3-$)T1)4U!, M05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@=&EM M97,@;F5W(')O;6%N)SXP+C`\+V9O;G0^#0H@(`T*("`@("`@("`@(#PO=&0^ M#0H@(`T*("`@("`@("`@(#QT9"!N;W=R87`],T1N;W=R87`@=F%L:6=N/3-$ M8F]T=&]M('=I9'1H/3-$,24@6QE/3-$)T1)4U!, M05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@=&EM M97,@;F5W(')O;6%N)SXE/"]F;VYT/@T*("`@("`-"B`@("`@("`@("`\+W1D M/@T*("`-"B`@("`@("`@/"]T6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D]. M5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N)SY& M;W)F96ET=7)E#0H@("`-"B`@("`@("`@("`@("`@6QE/3-$)U1%6%0M04Q) M1TXZ(&QE9G0G/@T*("`@(`T*("`@("`@("`@("`@/&9O;G0@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D]. M5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N)SXF M(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@ M("`@("`@/'1D('9A;&EG;CTS1&)O='1O;2!W:61T:#TS1#6QE/3-$ M)U1%6%0M04Q)1TXZ(')I9VAT)SX-"B`@("`-"B`@("`@("`@("`@(#QF;VYT M('-T>6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T.R!& M3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N)SXY+C8P/"]F;VYT/@T*("`@ M#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D(&YO=W)A<#TS M1&YO=W)A<"!V86QI9VX],T1B;W1T;VT@=VED=&@],T0Q)2!S='EL93TS1"=4 M15A4+4%,24=..B!L969T)SX-"B`@("`-"B`@("`@("`@("`@(#QF;VYT('-T M>6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4 M+49!34E,63H@=&EM97,@;F5W(')O;6%N)SXE/"]F;VYT/@T*("`@("`-"B`@ M("`@("`@("`\+W1D/@T*("`-"B`@("`@("`@/"]T&5R8VES97,@86YD#0H@("`-"B`@("`@(&5M<&QO>65E('1E'!E8W1E9`T* M("`@("`-"B`@("`@('9O;&%T:6QI='D@:7,@8F%S960@;VX@;6]N=&AL>2!H M:7-T;W)I8V%L(&9L=6-T=6%T:6]N28C.#(Q-SMS(&-O;6UO;B!S=&]C:R!U2!Y:65L9"!C=7)V92!I;B!E9F9E8W0@870@ M=&AE#0H@("`@(`T*("`@("`@=&EM92!O9B!T:&4@9W)A;G0@9F]R(&$@8F]N M9"!W:71H(&$@6EN9R!S=&]C M:R!D:7-P;W-I=&EO;G,@9V5N97)A;&QY(&9O<@T*("`-"B`@("`@('1H92!E M>&-E"!B96YE9FET(&9R;VT-"B`@#0H@("`@("!T:&4@97AE&5R8VES97,@;V8@2`F M;F)S<#LD,S$X+#`P,"!O9@T*("`-"B`@("`@('5NF5D(&]V97(@80T*(`T*("`@("`@=V5I9VAT960M879E2`S,2P@,C`Q,3H\+V9O M;G0^#0H@("`@#0H@("`@/"]D:78^/&)R+SX\=&%B;&4@8V5L;'!A9&1I;F<] M,T0P(&-E;&QS<&%C:6YG/3-$,"!W:61T:#TS1#$P,"4^#0H@("`@(`T*("`@ M("`@("`\='(^#0H@("`@#0H@("`@("`@("`@/'1D(&%L:6=N/3-$;&5F="!V M86QI9VX],T1B;W1T;VT@=VED=&@],T0W,B4@6QE/3-$)T1)4U!,05DZ(&)L;V-K.R!415A4+4E.1$5.5#H@,'!T M)SX-"B`@("`@#0H@("`@("`@("`@("`@("8C,38P.PT*("`@("`-"B`@("`@ M("`@("`@(#PO9&EV/@T*("`@("`-"B`@("`@("`@("`@(#QD:78@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D]. M5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N)SY3 M=&]C:PT*("`@#0H@("`@("`@("`@("`@($]P=&EO;G,\+V9O;G0^#0H@("`@ M(`T*("`@("`@("`@("`@/"]D:78^#0H@("`@(`T*("`@("`@("`@(#PO=&0^ M#0H@(`T*("`@("`@("`@(#QT9"!V86QI9VX],T1B;W1T;VT@=VED=&@],T0Q M)2!S='EL93TS1"=0041$24Y'+4)/5%1/33H@,"XU<'0G/@T*("`@#0H@("`@ M("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;B<^)B,Q M-C`[/"]F;VYT/@T*("`@(`T*("`@("`@("`@(#PO=&0^#0H@(`T*("`@("`@ M("`@(#QT9"!C;VQS<&%N/3-$,B!N;W=R87`],T1N;W=R87`@=F%L:6=N/3-$ M8F]T=&]M('=I9'1H/3-$."4@6QE/3-$)T1)4U!,05DZ(&EN M;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@=&EM97,@;F5W M(')O;6%N)SY.=6UB97(\+V9O;G0^#0H@(`T*("`@("`@("`@("`@/"]D:78^ M#0H@("`@(`T*("`@("`@("`@("`@/&1I=B!S='EL93TS1"=$25-03$%9.B!B M;&]C:SL@34%21TE.+4Q%1E0Z(#!P=#L@5$585"U)3D1%3E0Z(#!P=#L@34%2 M1TE.+5))1TA4.B`P<'0G(&%L:6=N/3-$8V5N=&5R/@T*("`-"B`@("`@("`@ M("`@("`@/&9O;G0@6QE/3-$)T1)4U!,05DZ(&)L;V-K.R!-05)'24XM3$5& M5#H@,'!T.R!415A4+4E.1$5.5#H@,'!T.R!-05)'24XM4DE'2%0Z(#!P="<@ M86QI9VX],T1C96YT97(^#0H@(`T*("`@("`@("`@("`@("`\9F]N="!S='EL M93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M4TE:13H@,3!P=#L@1D].5"U& M04U)3%DZ('1I;65S(&YE=R!R;VUA;B<^4VAA6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#`N M-7!T('-O;&ED.R!415A4+4%,24=..B!L969T)SX-"B`@(`T*("`@("`@("`@ M("`@/&9O;G0@6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#`N-7!T('-O;&ED)SX- M"B`@#0H@("`@("`@("`@("`\9&EV('-T>6QE/3-$)T1)4U!,05DZ(&)L;V-K M.R!-05)'24XM3$5&5#H@,'!T.R!415A4+4E.1$5.5#H@,'!T.R!-05)'24XM M4DE'2%0Z(#!P="<@86QI9VX],T1C96YT97(^#0H@(`T*("`@("`@("`@("`@ M("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M4TE:13H@ M,3!P=#L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;B<^5V5I9VAT960M M079E6QE/3-$)T1)4U!,05DZ(&)L;V-K.R!- M05)'24XM3$5&5#H@,'!T.R!415A4+4E.1$5.5#H@,'!T.R!-05)'24XM4DE' M2%0Z(#!P="<@86QI9VX],T1C96YT97(^#0H@(`T*("`@("`@("`@("`@("`\ M9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M4TE:13H@,3!P M=#L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;B<^17AE6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#`N-7!T('-O;&ED M.R!415A4+4%,24=..B!L969T)SX-"B`@(`T*("`@("`@("`@("`@/&9O;G0@ M6QE/3-$)T1)4U!,05DZ(&)L;V-K M.R!-05)'24XM3$5&5#H@,'!T.R!415A4+4E.1$5.5#H@,'!T.R!-05)'24XM M4DE'2%0Z(#!P="<@86QI9VX],T1C96YT97(^#0H@(`T*("`@("`@("`@("`@ M("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M4TE:13H@ M,3!P=#L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;B<^0V]N=')A8W0- M"B`-"B`@("`@("`@("`@("`@3&EF93PO9F]N=#X-"B`@#0H@("`@("`@("`@ M("`\+V1I=CX-"B`@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@ M(#PO='(^#0H@("`@(`T*("`@("`@("`\='(@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T M.R!&3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N)SXF(S$V,#L\+V9O;G0^ M#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D('9A M;&EG;CTS1&)O='1O;2!W:61T:#TS1#$E('-T>6QE/3-$)U1%6%0M04Q)1TXZ M(&QE9G0G/@T*("`@#0H@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-0 M3$%9.B!I;FQI;F4[($9/3E0M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ('1I M;65S(&YE=R!R;VUA;B<^)B,Q-C`[/"]F;VYT/@T*("`@(`T*("`@("`@("`@ M(#PO=&0^#0H@(`T*("`@("`@("`@(#QT9"!V86QI9VX],T1B;W1T;VT@=VED M=&@],T0W)2!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^#0H@("`@#0H@ M("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/ M3E0M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;B<^ M,C6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/@T*("`@(`T*("`@ M("`@("`@("`@/&9O;G0@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I% M.B`Q,'!T.R!&3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N)SXF(S$V,#L\ M+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@ M/'1D(&%L:6=N/3-$6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q M,'!T.R!&3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N)SXS+C6QE/3-$)V)A8VMG6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I% M.B`Q,'!T.R!&3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N)SXF(S$V,#L\ M+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@ M/'1D('9A;&EG;CTS1&)O='1O;2!W:61T:#TS1#$E('-T>6QE/3-$)U1%6%0M M04Q)1TXZ(&QE9G0G/@T*("`@#0H@("`@("`@("`@("`\9F]N="!S='EL93TS M1"=$25-03$%9.B!I;FQI;F4[($9/3E0M4TE:13H@,3!P=#L@1D].5"U&04U) M3%DZ('1I;65S(&YE=R!R;VUA;B<^)B,Q-C`[/"]F;VYT/@T*("`@(`T*("`@ M("`@("`@(#PO=&0^#0H@(`T*("`@("`@("`@(#QT9"!V86QI9VX],T1B;W1T M;VT@=VED=&@],T0W)2!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^#0H@ M("`@#0H@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI M;F4[($9/3E0M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R M;VUA;B<^.#4L,#`P/"]F;VYT/@T*("`@("`-"B`@("`@("`@("`\+W1D/@T* M("`-"B`@("`@("`@("`\=&0@;F]W6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/@T* M("`@(`T*("`@("`@("`@("`@/&9O;G0@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q M,'!T.R!&3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N)SXF(S$V,#L\+V9O M;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@(#PO='(^ M#0H@("`@(`T*("`@("`@("`\='(@6QE/3-$)T1) M4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@ M=&EM97,@;F5W(')O;6%N)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@ M("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D('9A;&EG;CTS1&)O='1O;2!W M:61T:#TS1#$E('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/@T*("`@#0H@ M("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/ M3E0M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;B<^ M)B,Q-C`[/"]F;VYT/@T*("`@(`T*("`@("`@("`@(#PO=&0^#0H@(`T*("`@ M("`@("`@(#QT9"!V86QI9VX],T1B;W1T;VT@=VED=&@],T0W)2!S='EL93TS M1"=415A4+4%,24=..B!R:6=H="<^#0H@("`@#0H@("`@("`@("`@("`\9F]N M="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M4TE:13H@,3!P=#L@ M1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;B<^+2T\+V9O;G0^#0H@#0H@ M("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D(&YO=W)A<#TS1&YO M=W)A<"!V86QI9VX],T1B;W1T;VT@=VED=&@],T0Q)2!S='EL93TS1"=415A4 M+4%,24=..B!L969T)SX-"B`@("`-"B`@("`@("`@("`@(#QF;VYT('-T>6QE M/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4+49! M34E,63H@=&EM97,@;F5W(')O;6%N)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@ M("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D('9A;&EG;CTS1&)O M='1O;2!W:61T:#TS1#$E/@T*("`@#0H@("`@("`@("`@("`\9F]N="!S='EL M93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M4TE:13H@,3!P=#L@1D].5"U& M04U)3%DZ('1I;65S(&YE=R!R;VUA;B<^)B,Q-C`[/"]F;VYT/@T*("`@(`T* M("`@("`@("`@(#PO=&0^#0H@(`T*("`@("`@("`@(#QT9"!V86QI9VX],T1B M;W1T;VT@=VED=&@],T0W)3X-"B`@(`T*("`@("`@("`@("`@/&9O;G0@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@ M1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N M)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@ M("`@("`@("`@/'1D('9A;&EG;CTS1&)O='1O;2!W:61T:#TS1#$E('-T>6QE M/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#`N-7!T('-O;&ED.R!415A4+4%, M24=..B!L969T)SX-"B`@#0H@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$ M25-03$%9.B!I;FQI;F4[($9/3E0M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ M('1I;65S(&YE=R!R;VUA;B<^)B,Q-C`[/"]F;VYT/@T*("`@(`T*("`@("`@ M("`@(#PO=&0^#0H@(`T*("`@("`@("`@(#QT9"!V86QI9VX],T1B;W1T;VT@ M=VED=&@],T0W)2!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`P+C5P M="!S;VQI9#L@5$585"U!3$E'3CH@6QE/3-$)T1) M4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@ M=&EM97,@;F5W(')O;6%N)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@ M("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D(&%L:6=N/3-$6QE/3-$)V)A8VMG6QE/3-$)T1)4U!,05DZ M(&)L;V-K.R!-05)'24XM3$5&5#H@.7!T.R!415A4+4E.1$5.5#H@,'!T.R!- M05)'24XM4DE'2%0Z(#!P="<@86QI9VX],T1L969T/@T*("`@("`-"B`@("`@ M("`@("`@("`@/&9O;G0@"<^#0H@("`@(`T*("`@("`@("`@("`@/&9O M;G0@6QE/3-$)U!!1$1)3D6QE/3-$ M)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E, M63H@=&EM97,@;F5W(')O;6%N)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@ M("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D('9A;&EG;CTS1&)O='1O M;2!W:61T:#TS1#$E('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#(N M,C5P="!D;W5B;&4[(%1%6%0M04Q)1TXZ(&QE9G0G/@T*("`@(`T*("`@("`@ M("`@("`@/&9O;G0@6QE/3-$)T)/4D1%4BU"3U14 M3TTZ(&)L86-K(#(N,C5P="!D;W5B;&4[(%1%6%0M04Q)1TXZ(&QE9G0G/@T* M("`@("`-"B`@("`@("`@("`@(#QF;VYT('-T>6QE/3-$)T1)4U!,05DZ(&EN M;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@=&EM97,@;F5W M(')O;6%N)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X- M"B`@#0H@("`@("`@("`@/'1D(&%L:6=N/3-$"<^ M#0H@("`@(`T*("`@("`@("`@("`@/&9O;G0@6QE/3-$)T1)4U!,05DZ(&)L;V-K.R!-05)'24XM3$5&5#H@.7!T.R!415A4 M+4E.1$5.5#H@,'!T.R!-05)'24XM4DE'2%0Z(#!P="<@86QI9VX],T1R:6=H M=#X-"B`-"B`@("`@("`@("`@("`@/&9O;G0@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@ M1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N M)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@ M("`@("`@("`@/'1D('9A;&EG;CTS1&)O='1O;2!W:61T:#TS1#$E/@T*("`@ M#0H@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[ M($9/3E0M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA M;B<^)B,Q-C`[/"]F;VYT/@T*("`@(`T*("`@("`@("`@(#PO=&0^#0H@(`T* M("`@("`@("`@(#QT9"!V86QI9VX],T1B;W1T;VT@=VED=&@],T0Q)2!S='EL M93TS1"=415A4+4%,24=..B!L969T)SX-"B`@(`T*("`@("`@("`@("`@/&9O M;G0@6QE/3-$)U1%6%0M04Q)1TXZ M(&QE9G0G/@T*("`@(`T*("`@("`@("`@("`@/&9O;G0@6QE/3-$)T1) M4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@ M=&EM97,@;F5W(')O;6%N)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@ M("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D('9A;&EG;CTS1&)O='1O;2!W M:61T:#TS1#$E('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/@T*("`@#0H@ M("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/ M3E0M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;B<^ M)B,Q-C`[/"]F;VYT/@T*("`@(`T*("`@("`@("`@(#PO=&0^#0H@(`T*("`@ M("`@("`@(#QT9"!V86QI9VX],T1B;W1T;VT@=VED=&@],T0W)2!S='EL93TS M1"=415A4+4%,24=..B!R:6=H="<^#0H@("`@#0H@("`@("`@("`@("`\9F]N M="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M4TE:13H@,3!P=#L@ M1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;B<^)B,Q-C`[/"]F;VYT/@T* M("`@(`T*("`@("`@("`@(#PO=&0^#0H@(`T*("`@("`@("`@(#QT9"!N;W=R M87`],T1N;W=R87`@=F%L:6=N/3-$8F]T=&]M('=I9'1H/3-$,24@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T M.R!&3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N)SXF(S$V,#L\+V9O;G0^ M#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@(#PO='(^#0H@ M("`@(`T*("`@("`@("`\='(@6QE/3-$)U!!1$1)3D2`S,2P@,C`Q,3PO9F]N=#X-"B`-"B`@("`@("`@ M("`@(#PO9&EV/@T*("`@("`-"B`@("`@("`@("`\+W1D/@T*("`-"B`@("`@ M("`@("`\=&0@86QI9VX],T1R:6=H="!V86QI9VX],T1B;W1T;VT@=VED=&@] M,T0Q)2!S='EL93TS1"=0041$24Y'+4)/5%1/33H@-'!X)SX-"B`@("`@#0H@ M("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/ M3E0M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;B<^ M)B,Q-C`[/"]F;VYT/@T*("`@(`T*("`@("`@("`@(#PO=&0^#0H@(`T*("`@ M("`@("`@(#QT9"!V86QI9VX],T1B;W1T;VT@=VED=&@],T0Q)2!S='EL93TS M1"="3U)$15(M0D]45$]-.B!B;&%C:R`R+C(U<'0@9&]U8FQE.R!415A4+4%, M24=..B!L969T)SX-"B`@("`-"B`@("`@("`@("`@(#QF;VYT('-T>6QE/3-$ M)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E, M63H@=&EM97,@;F5W(')O;6%N)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@ M("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D('9A;&EG;CTS1&)O='1O M;2!W:61T:#TS1#6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#(N M,C5P="!D;W5B;&4[(%1%6%0M04Q)1TXZ(')I9VAT)SX-"B`@("`@#0H@("`@ M("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;B<^,C0P M+#$V-SPO9F]N=#X-"B`-"B`@("`@("`@("`\+W1D/@T*("`-"B`@("`@("`@ M("`\=&0@;F]W6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#(N,C5P="!D;W5B M;&4[(%1%6%0M04Q)1TXZ(&QE9G0G/@T*("`@("`-"B`@("`@("`@("`@(#QF M;VYT('-T>6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T M.R!&3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N)SXF(S$V,#L\+V9O;G0^ M#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D(&%L M:6=N/3-$"<^#0H@("`@(`T*("`@("`@("`@("`@ M/&9O;G0@6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#(N,C5P="!D;W5B M;&4[(%1%6%0M04Q)1TXZ(')I9VAT)SX-"B`@("`@#0H@("`@("`@("`@("`\ M9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M4TE:13H@,3!P M=#L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;B<^,BXR,CPO9F]N=#X- M"B`@(`T*("`@("`@("`@(#PO=&0^#0H@(`T*("`@("`@("`@(#QT9"!N;W=R M87`],T1N;W=R87`@=F%L:6=N/3-$8F]T=&]M('=I9'1H/3-$,24@6QE/3-$)T)/4D1% M4BU"3U143TTZ(&)L86-K(#(N,C5P="!D;W5B;&4G/@T*("`@("`-"B`@("`@ M("`@("`@(#QD:78@6QE/3-$)T1)4U!,05DZ(&)L;V-K.R!-05)'24XM3$5&5#H@.7!T.R!415A4 M+4E.1$5.5#H@,'!T.R!-05)'24XM4DE'2%0Z(#!P="<@86QI9VX],T1L969T M/@T*("`@("`-"B`@("`@("`@("`@("`@/&9O;G0@6QE M/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4+49! M34E,63H@=&EM97,@;F5W(')O;6%N)SY.=6UB97(\+V9O;G0^#0H@(`T*("`@ M("`@("`@("`@/"]D:78^#0H@("`@(`T*("`@("`@("`@("`@/&1I=B!S='EL M93TS1"=$25-03$%9.B!B;&]C:SL@34%21TE.+4Q%1E0Z(#!P=#L@5$585"U) M3D1%3E0Z(#!P=#L@34%21TE.+5))1TA4.B`P<'0G(&%L:6=N/3-$8V5N=&5R M/@T*("`-"B`@("`@("`@("`@("`@/&9O;G0@6QE/3-$)T1)4U!,05DZ(&)L M;V-K.R!-05)'24XM3$5&5#H@,'!T.R!415A4+4E.1$5.5#H@,'!T.R!-05)' M24XM4DE'2%0Z(#!P="<@86QI9VX],T1C96YT97(^#0H@(`T*("`@("`@("`@ M("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[($9/3E0M4TE: M13H@,3!P=#L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;B<^4VAA6QE/3-$)T)/4D1%4BU" M3U143TTZ(&)L86-K(#`N-7!T('-O;&ED.R!415A4+4%,24=..B!L969T)SX- M"B`@(`T*("`@("`@("`@("`@/&9O;G0@6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K M(#`N-7!T('-O;&ED)SX-"B`@#0H@("`@("`@("`@("`\9&EV('-T>6QE/3-$ M)T1)4U!,05DZ(&)L;V-K.R!-05)'24XM3$5&5#H@,'!T.R!415A4+4E.1$5. M5#H@,'!T.R!-05)'24XM4DE'2%0Z(#!P="<@86QI9VX],T1C96YT97(^#0H@ M(`T*("`@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI M;F4[($9/3E0M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R M;VUA;B<^5V5I9VAT960M079E6QE/3-$)T1) M4U!,05DZ(&)L;V-K.R!-05)'24XM3$5&5#H@,'!T.R!415A4+4E.1$5.5#H@ M,'!T.R!-05)'24XM4DE'2%0Z(#!P="<@86QI9VX],T1C96YT97(^#0H@(`T* M("`@("`@("`@("`@("`\9F]N="!S='EL93TS1"=$25-03$%9.B!I;FQI;F4[ M($9/3E0M4TE:13H@,3!P=#L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA M;B<^4')I8V4\+V9O;G0^#0H@#0H@("`@("`@("`@("`\+V1I=CX-"B`@("`@ M#0H@("`@("`@("`@/"]T9#X-"B`@#0H@("`@("`@("`@/'1D(&YO=W)A<#TS M1&YO=W)A<"!V86QI9VX],T1B;W1T;VT@=VED=&@],T0Q)2!S='EL93TS1"=" M3U)$15(M0D]45$]-.B!B;&%C:R`P+C5P="!S;VQI9#L@5$585"U!3$E'3CH@ M;&5F="<^#0H@("`-"B`@("`@("`@("`@(#QF;VYT('-T>6QE/3-$)T1)4U!, M05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@=&EM M97,@;F5W(')O;6%N)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@ M/"]T9#X-"B`@#0H@("`@("`@("`@/'1D('9A;&EG;CTS1&)O='1O;2!W:61T M:#TS1#$E('-T>6QE/3-$)U!!1$1)3D6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@ M1D].5"U325I%.B`Q,'!T.R!&3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N M)SXF(S$V,#L\+V9O;G0^#0H@("`@#0H@("`@("`@("`@/"]T9#X-"B`@#0H@ M("`@("`@("`@/'1D('9A;&EG;CTS1&)O='1O;2!W:61T:#TS1#6QE M/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#`N-7!T('-O;&ED)SX-"B`@("`- M"B`@("`@("`@("`@(#QD:78@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T M.R!&3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N)SY796EG:'1E9"U!=F5R M86=E/"]F;VYT/@T*("`-"B`@("`@("`@("`@(#PO9&EV/@T*("`@("`-"B`@ M("`@("`@("`@(#QD:78@6QE/3-$)T1)4U!,05DZ(&EN;&EN93L@1D].5"U325I%.B`Q,'!T.R!& M3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N)SY296UA:6YI;F<\+V9O;G0^ M#0H@("`@(`T*("`@("`@("`@("`@/"]D:78^#0H@("`@(`T*("`@("`@("`@ M("`@/&1I=B!S='EL93TS1"=$25-03$%9.B!B;&]C:SL@34%21TE.+4Q%1E0Z M(#!P=#L@5$585"U)3D1%3E0Z(#!P=#L@34%21TE.+5))1TA4.B`P<'0G(&%L M:6=N/3-$8V5N=&5R/@T*("`-"B`@("`@("`@("`@("`@/&9O;G0@6QE/3-$)V)A8VMG6QE/3-$)T1)4U!,05DZ(&)L;V-K.R!-05)'24XM3$5&5#H@.7!T.R!4 M15A4+4E.1$5.5#H@,'!T.R!-05)'24XM4DE'2%0Z(#!P="<@86QI9VX],T1L M969T/@T*("`@("`-"B`@("`@("`@("`@("`@/&9O;G0@