Artificial Intelligence
Cemtrex Reports Third Quarter 2021 Financial Results
Brooklyn, NY, Aug. 16, 2021 (GLOBE NEWSWIRE) — – Cemtrex Inc. (NASDAQ: CETX, CETXP, CETXW), a technology company driving innovation in Internet of Things (IoT), security, machine vision & artificial intelligence, and augmented & virtual reality, has reported its financial and operational results for the third quarter ended June 30, 2021.
Third Quarter 2021 Financial Results
Revenue for the three months ended June 30, 2021, and 2020 was $10.3 million and $8.4 million, respectively, an increase of 22%. This increase is mainly due to an improvement in economic conditions from the impact of the COVID-19 crisis during the same period last year. Revenue for the nine months ended June 30, 2021, and 2020 was $28.4 million and $32.8, respectively, a decrease of 13%. The Advanced Technologies segment revenues for the three months ended June 30, 2021, increased by 17% to $5.8 million, and the Industrial Services segment revenues for quarter increased by 29%, to $4.5 million.
Gross Profit for the third quarter of 2021 was $4.1 million, or 40% of revenues as compared to gross profit of $3.3 million, or 39% of revenues for the year ago period. Gross profit increased due to higher sales and varied from product to product and from customer to customer.
Total operating expenses for three months ended June 30, 2021, were $6.4 million, compared to $5.7 million in the prior year’s quarter.
Operating activities for continuing operations used $6.2 million for the nine months ended June 30, 2021 compared to using $3.4 million of cash for the nine months ended June 30, 2020.
Net income for the quarter ended June 30, 2021 was approximately $1.1 million, as compared to a net loss of $4.2 million in 2020. Net income increased in the third quarter as compared to the same period last year primarily due to overall economic improvement from the impact of the COVID-19 crisis during the same period last year and the result of PPP Loan forgiveness.
Cash and cash equivalents totaled $12.9 million at June 30, 2021, as compared to $15.9 million at December 31, 2020 and $19.5 million at September 30, 2020.
Management Commentary
Cemtrex’s Chairman and CEO, Saagar Govil, commented on the results: “In the third quarter of 2021 we continued to see a renewed improvement in our segments, with revenue for the quarter up 12% sequentially from the second quarter. We remain optimistic that our revenue will continue to trend upward as the economic uncertainty due to the pandemic recedes.”
“Throughout the year we have striven to remain at the forefront of innovation by continuing to invest in the development of our roadmap including Advanced Technologies Segment’s proprietary technology, including Virtual Reality solutions, SmartDesk, and Artificial Intelligence (AI) based, next generation solutions associated with security and surveillance systems software. While we experienced some delays due to the pandemic, we believe that as we continue to roll out our exciting new products and solutions over the next year that our outlook remains positive.”
“Despite the challenges of the pandemic, we believe this focus on the evolution of our core technologies, and a commitment to driving top line growth, has put us in a strong position as our market returns to normal and customers reopen for business and resume purchasing.”
About Cemtrex
Cemtrex, Inc. (CETX) is a leading multi-industry technology company that is driving innovation in markets such as Internet of Things (IoT), Augmented and Virtual Reality (AR & VR), and Artificial Intelligence and Computer Vision (AI & CV) in a wide range of sectors, including consumer products, industrial manufacturing, digital applications, and intelligent security & surveillance systems. www.cemtrex.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the closing of the offering, gross proceeds from the offering, our new product offerings, expected use of proceeds, or any proposed fundraising activities. These forward-looking statements are based on management’s current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by such forward looking statements. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. These risks and uncertainties are discussed under the heading “Risk Factors” contained in our Form 10-K filed with the Securities and Exchange Commission. All information in this press release is as of the date of the release and we undertake no duty to update this information unless required by law.
Cemtrex, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
| (UNAUDITED) | (Restated) | |||||||
| June 30, | September 30, | |||||||
| Assets | 2021 | 2020 | ||||||
| Current assets | ||||||||
| Cash and equivalents | $ | 12,879,278 | $ | 19,490,061 | ||||
| Restricted cash | 1,690,873 | 1,582,798 | ||||||
| Short-term investments | 452,175 | 887,746 | ||||||
| Trade receivables, net | 5,234,216 | 6,686,797 | ||||||
| Trade receivables – related party | 1,505,789 | 1,432,209 | ||||||
| Inventory –net of allowance for inventory obsolescence | 8,669,397 | 6,793,806 | ||||||
| Prepaid expenses and other assets | 2,164,367 | 1,188,317 | ||||||
| Total current assets | 32,596,095 | 38,061,734 | ||||||
| Property and equipment, net | 7,236,755 | 6,961,751 | ||||||
| Right-of-use assets | 3,098,523 | 2,728,380 | ||||||
| Assets held for sale | 8,323,321 | 8,323,321 | ||||||
| Goodwill | 5,886,096 | 4,370,894 | ||||||
| Other | 1,094,429 | 744,207 | ||||||
| Total Assets | $ | 58,235,219 | $ | 61,190,287 | ||||
| Liabilities & Stockholders’ Equity (Deficit) | ||||||||
| Current liabilities | ||||||||
| Accounts payable | $ | 2,888,144 | $ | 2,857,817 | ||||
| Short-term liabilities | 6,381,047 | 7,034,510 | ||||||
| Lease liabilities – short-term | 840,016 | 721,036 | ||||||
| Deposits from customers | 39,227 | 29,660 | ||||||
| Accrued expenses | 2,476,812 | 2,392,487 | ||||||
| Deferred revenue | 1,794,187 | 1,651,784 | ||||||
| Accrued income taxes | 331 | 89,318 | ||||||
| Total current liabilities | 14,419,764 | 14,776,612 | ||||||
| Long-term liabilities | ||||||||
| Loans payable to bank | 1,046,504 | 1,871,201 | ||||||
| Long-term lease liabilities | 2,261,148 | 2,027,406 | ||||||
| Notes payable | 3,079,743 | 6,029,999 | ||||||
| Mortgage payable | 2,282,409 | 2,355,542 | ||||||
| Other long-term liabilities | 1,078,752 | 1,063,733 | ||||||
| Paycheck Protection Program Loans | 2,871,161 | 2,169,437 | ||||||
| Deferred Revenue – long-term | 449,563 | 467,329 | ||||||
| Total long-term liabilities | 13,069,280 | 15,984,647 | ||||||
| Total liabilities | 27,489,044 | 30,761,259 | ||||||
| Commitments and contingencies | – | – | ||||||
| Shareholders’ equity | ||||||||
| Preferred stock , $0.001 par value, 10,000,000 shares authorized, | ||||||||
| Series 1, 3,000,000 shares authorized, 1,885,151 shares issued and | ||||||||
| outstanding as of June 30, 2021, and 2,156,784 shares issued and | ||||||||
| outstanding as of September 30, 2020 (liquidation value of $10 per share) | 1,885 | 2,157 | ||||||
| Series A, 1,000,000 shares authorized, zero shares issued and outstanding at | ||||||||
| June 30, 2021, and 1,000,000 shares issued and outstanding at September 30, 2020 | – | 1,000 | ||||||
| Series C, 100,000 shares authorized, 50,000 shares issued and outstanding at | ||||||||
| June 30, 2021, and 100,000 shares issued and outstanding at September 30, 2020 | 50 | 100 | ||||||
| Common stock, $0.001 par value, 50,000,000 shares authorized, | ||||||||
| 18,711,463 shares issued and outstanding at June 30, 2021, and | ||||||||
| 17,622,539 shares issued and outstanding at September 30, 2020 | 18,711 | 17,623 | ||||||
| Additional paid-in capital | 58,846,576 | 60,221,766 | ||||||
| Retained earnings (accumulated deficit) | (30,660,550 | ) | (32,520,084 | ) | ||||
| Treasury stock at cost | (148,291 | ) | (148,291 | ) | ||||
| Accumulated other comprehensive income (loss) | 1,624,673 | 1,777,112 | ||||||
| Total Cemtrex stockholders’ equity | 29,683,054 | 29,351,383 | ||||||
| Non-controlling interest | 1,063,121 | 1,077,645 | ||||||
| Total liabilities and shareholders’ equity | $ | 58,235,219 | $ | 61,190,287 | ||||
Cemtrex, Inc. and Subsidiaries
Condensed Consolidated Statements of Operations and Comprehensive Income/(Loss)
| For the three months ended | For the nine months ended | |||||||||||||||
| June 30, 2021 | June 30, 2020 | June 30, 2021 | June 30, 2020 | |||||||||||||
| Revenues | $ | 10,326,431 | $ | 8,440,867 | $ | 28,422,892 | $ | 32,774,797 | ||||||||
| Cost of revenues | 6,198,715 | 5,161,015 | 16,360,822 | 18,800,355 | ||||||||||||
| Gross profit | 4,127,716 | 3,279,852 | 12,062,070 | 13,974,442 | ||||||||||||
| Operating expenses | ||||||||||||||||
| General and administrative | 5,670,019 | 5,347,718 | 16,337,200 | 15,380,199 | ||||||||||||
| Research and development | 757,966 | 331,936 | 2,033,688 | 1,113,455 | ||||||||||||
| Total operating expenses | 6,427,985 | 5,679,654 | 18,370,888 | 16,493,654 | ||||||||||||
| Operating income/(loss) | (2,300,269 | ) | (2,399,802 | ) | (6,308,818 | ) | (2,519,212 | ) | ||||||||
| Other income/(expense) | ||||||||||||||||
| Other income/(expense) | 3,901,658 | 158,134 | 6,532,590 | 830,251 | ||||||||||||
| Settlement Agreement – Related Party | – | – | 3,674,165 | – | ||||||||||||
| Interest Expense | (433,009 | ) | (1,982,101 | ) | (1,891,026 | ) | (3,812,921 | ) | ||||||||
| Total other income/(expense), net | 3,468,649 | (1,823,967 | ) | 8,315,729 | (2,982,670 | ) | ||||||||||
| Net loss before income taxes | 1,168,380 | (4,223,769 | ) | 2,006,911 | (5,501,882 | ) | ||||||||||
| Income tax benefit/(expense) | (40,759 | ) | (7,658 | ) | (168,190 | ) | (197,201 | ) | ||||||||
| Net income/(loss) | $ | 1,127,621 | $ | (4,231,427 | ) | $ | 1,838,721 | $ | (5,699,083 | ) | ||||||
| Less income in noncontrolling interest | 29,608 | (35,751 | ) | (20,813 | ) | 151,312 | ||||||||||
| Net income/(loss) attributable to Cemtrex, Inc. shareholders | $ | 1,098,013 | $ | (4,195,676 | ) | $ | 1,859,534 | $ | (5,850,395 | ) | ||||||
| Net income/(loss) | $ | 1,127,621 | $ | (4,231,427 | ) | $ | 1,838,721 | $ | (5,699,083 | ) | ||||||
| Other comprehensive income/(loss) | ||||||||||||||||
| Foreign currency translation gain/(loss) | (193,554 | ) | 154,443 | (234,045 | ) | 161,460 | ||||||||||
| Defined benefit plan actuarial gain/(loss) | – | – | 87,895 | – | ||||||||||||
| Comprehensive income/(loss) | 934,067 | (4,076,984 | ) | 1,692,571 | (5,537,623 | ) | ||||||||||
| Less comprehensive income/(loss) attributable to noncontrolling interest | (35,731 | ) | 41,266 | 14,524 | (118,623 | ) | ||||||||||
| Comprehensive income/(loss) attributable to Cemtrex, Inc. shareholders | $ | 969,798 | $ | (4,118,250 | ) | $ | 1,678,047 | $ | (5,419,000 | ) | ||||||
| Income/(loss) Per Share-Basic | $ | 0.06 | $ | (0.38 | ) | $ | 0.10 | $ | (0.82 | ) | ||||||
| Income/(loss) Per Share-Diluted | $ | 0.06 | $ | (0.38 | ) | $ | 0.10 | $ | (0.82 | ) | ||||||
| Weighted Average Number of Shares-Basic | 18,711,463 | 10,933,926 | 18,368,274 | 7,161,785 | ||||||||||||
| Weighted Average Number of Shares-Diluted | 18,711,463 | 10,933,926 | 18,368,274 | 7,161,785 | ||||||||||||
Condensed Consolidated Statements of Cash Flows
(Unaudited/Restated)
| For the nine months ended | ||||||||
| June 30, | ||||||||
| Cash Flows from Operating Activities | 2021 | 2020 | ||||||
| (unaudited) | (restated) | |||||||
| Net income/(loss) | $ | 1,838,721 | $ | (5,699,083 | ) | |||
| Adjustments to reconcile net loss to net cash provided/(used) by operating activities: | ||||||||
| Depreciation and amortization | 972,186 | 1,343,207 | ||||||
| Gain on disposal of property and equipment | 18,583 | 457 | ||||||
| Amortization of right-of-use assets | 653,175 | 352,691 | ||||||
| Change in allowance for doubtful accounts | (161,101 | ) | 126 | |||||
| Share-based compensation | 110,904 | 167,312 | ||||||
| Income tax expense/ (benefit) | 168,190 | (197,201 | ) | |||||
| Interest expense paid in equity shares | 818,348 | 2,505,924 | ||||||
| Accrued interest on notes payable | 64,748 | 308,748 | ||||||
| Amortization of original issue discounts on notes payable | 575,000 | 757,278 | ||||||
| Gain on marketable securities | (2,407,841 | ) | (607,103 | ) | ||||
| Settlement Agreement – Related Party | (3,674,165 | ) | – | |||||
| Discharge of Paycheck Protection Program Loans | (3,349,700 | ) | – | |||||
| Changes in operating assets and liabilities net of effects from acquisition | ||||||||
| of subsidiaries: | ||||||||
| Accounts receivable | 1,613,682 | 1,654,383 | ||||||
| Accounts receivable – related party | (78,594 | ) | 5,510 | |||||
| Inventory | (1,875,591 | ) | (1,384,453 | ) | ||||
| Prepaid expenses and other current assets | (976,050 | ) | (514,580 | ) | ||||
| Other assets | 149,778 | (1,017,337 | ) | |||||
| Other liabilities | 15,019 | (117,667 | ) | |||||
| Accounts payable | 30,327 | (1,205,851 | ) | |||||
| Operating lease liabilities | (650,535 | ) | (296,892 | ) | ||||
| Deposits from customers | 9,567 | 2,003 | ||||||
| Accrued expenses | (78,851 | ) | 383,230 | |||||
| Deferred revenue | 124,637 | (99,354 | ) | |||||
| Income taxes payable | (88,987 | ) | 272,925 | |||||
| Net cash used by operating activities | (6,178,550 | ) | (3,385,727 | ) | ||||
| Cash Flows from Investing Activities | ||||||||
| Purchase of property and equipment | (1,113,658 | ) | (4,541,537 | ) | ||||
| Investment in Virtual Driver Interactive | (1,075,428 | ) | – | |||||
| Investment in MasterpieceVR | (500,000 | ) | – | |||||
| Investment in related party | – | (500,000 | ) | |||||
| Proceeds from sale of marketable securities | 9,134,159 | 22,720,132 | ||||||
| Purchase of marketable securities | (6,290,747 | ) | (23,479,038 | ) | ||||
| Purchases of treasury stock | – | (190,483 | ) | |||||
| Net cash used by investing activities | 154,326 | (5,990,926 | ) | |||||
| Cash Flows from Financing Activities | ||||||||
| Proceeds from notes payable | – | 4,485,000 | ||||||
| Payments on notes payable | (2,145,257 | ) | (726,640 | ) | ||||
| Proceeds on bank loans | – | 5,947,101 | ||||||
| Payments on bank loans | (957,186 | ) | (224,196 | ) | ||||
| Proceeds from Paycheck Protection Program Loans | 2,942,285 | – | ||||||
| Proceeds from securities purchase agreements | – | 12,462,648 | ||||||
| Payments on capital lease liabilities | (20,061 | ) | (13,838 | ) | ||||
| Expenses on securities purchase agreements | – | (840,728 | ) | |||||
| Revolving line of credit | – | (425,812 | ) | |||||
| Net cash provided/(used) by financing activities | (180,219 | ) | 20,663,535 | |||||
| Effect of currency translation | (298,265 | ) | 128,771 | |||||
| Net increase in cash, cash equivalents, and restricted cash | (6,204,443 | ) | 11,286,882 | |||||
| Cash, cash equivalents, and restricted cash at beginning of period | 21,072,859 | 2,858,085 | ||||||
| Cash, cash equivalents, and restricted cash at end of period | $ | 14,570,151 | $ | 14,273,738 | ||||
| Balance Sheet Accounts Included in Cash, Cash Equivalents, and Restricted Cash | ||||||||
| Cash and equivalents | $ | 12,879,278 | $ | 12,939,493 | ||||
| Restricted cash | 1,690,873 | 1,334,245 | ||||||
| Total cash, cash equivalents, and restricted cash | $ | 14,570,151 | $ | 14,273,738 | ||||
| Supplemental Disclosure of Cash Flow Information: | ||||||||
| Cash paid during the period for interest | $ | 432,930 | $ | 240,971 | ||||
| Cash paid during the period for income taxes | $ | 88,987 | $ | 75,724 | ||||
| Supplemental Schedule of Non-Cash Investing and Financing Activities | ||||||||
| Investment in Virtual Driver Interactive | $ | 439,774 | $ | – | ||||
| Stock issued to pay for products and/or services | $ | – | $ | 428,538 | ||||
| Stock issued to pay notes payable | $ | 2,187,837 | $ | 6,933,924 | ||||
Meta description : Explore IG Canada’s advanced trading platform, educational resources, and robust security features. Achieve your trading goals with the innovative tools.
NOTTINGHAM, England, April 25, 2024 /PRNewswire/ — IG Canada, a premier online trading platform, is pleased to announce significant enhancements to its trading technology, designed to empower both novice and experienced traders with superior tools and resources. This development is part of IG Canada’s commitment to providing the best trading experience in the Canadian market.
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Security remains a top priority for IG Canada. The latest updates include enhanced encryption and multi-factor authentication to protect client data and funds. These security measures provide peace of mind for traders, knowing their investments are safeguarded against potential threats.
IG Canada is a leading online brokerage that provides trading services across multiple asset classes, including forex, stocks, commodities, and indices. With a focus on innovation and customer service, IG Canada is committed to helping Canadian traders achieve their investment goals through a transparent and efficient trading environment.
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View original content:https://www.prnewswire.co.uk/news-releases/ig-canada-announces-enhanced-trading-platform-for-enhanced-user-experience-302127189.html
Artificial Intelligence
Sentrycs Now Part of the UK National Protective Security Authority Catalog of Security Equipment
This inclusion into the NPSA CSE marks a significant milestone in the company’s commitment to enhancing national and international airspace security and to leading the C-UAS market toward multi-layer strategy optimization and excellence.
TEL-AVIV, Israel, April 25, 2024 /PRNewswire/ — Sentrycs, a leading innovator in adaptive counter-drone solutions, is proud to announce its inclusion in the prestigious UK National Protective Security Authority Catalogue of Security Equipment (NPSA CSE).
Following a rigorous assessment process, Sentrycs’ cutting-edge Counter Unmanned Aerial Systems (C-UAS) solution has met the high standards set by the NPSA for Detection, Tracking, and Identification (DTI). The testing, conducted at the NPSA’s designated testing facilities in August 2023, rigorously evaluated the Sentrycs system against the NPSA’s DTI Testing and Evaluation Standard v3.1.
Sentrycs elected to be assessed under Configuration D as a 3D system with Ground Control Station (GCS) detection capability and platform identification capability, which is the most demanding test scenario with the highest number of scored parameters.
The Sentrycs system demonstrated exceptional capabilities in various security scenarios, showcasing its robustness in detecting and tracking with high accuracy and zero false alarms. The system’s innovative use of cyber techniques to extract data from targets and its streamlined human-machine interface were especially noted for their efficiency and ease of use.
“Our team is proud to have Sentrycs recognized by the UK National Protective Security Authority,” said Yoav Zaltzman, CEO of Sentrycs. “Being listed in the CSE is not just an honor; it’s a testament to our technology’s reliability and effectiveness in contributing to the ever-changing airspace security landscape.”
Sentrycs’ technology is now accessible through the NPSA CSE, providing security practitioners with verified solutions that meet the UK’s rigorous security standards. This inclusion not only underscores Sentrycs’ role in advancing security technology but also enhances its visibility and credibility on a global stage.
For more details on Sentrycs’ solutions and their impact, visit www.sentrycs.com.
For further information regarding the NPSA and the Catalog of Security Equipment, please visit the NPSA’s official website.
About Sentrycs
Sentrycs is a leader in adaptive counter-drone solutions, supported by innovative technology designed to passively identify, mitigate, and where necessary, intercept unauthorized drones custom-built for various environments – including airports, borders, prisons, critical infrastructure, and mass events. Founded in 2017, Sentrycs’ has offices in Israel and the US, serving customers worldwide. By uniting its field-proven technology and expertise in global drone environments, Sentrycs is leading the way towards a safer and more secure drone-driven future. Learn more at www.sentrycs.com
Video – https://www.youtube.com/watch?v=YBuhpTq5QuM
View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/sentrycs-now-part-of-the-uk-national-protective-security-authority-catalog-of-security-equipment-302126952.html
MILAN, April 25, 2024 /PRNewswire/ — Homestyler, a leading all-in-one 3D Design platform and creative community for global designers invested by Easyhome New Retail Group and Alibaba Group, successfully hosted the Homestyler Global Partners Conference and Gorgeous Home Imported Brand Investment Promotion Conference from April 18 to 19 on the sidelines of the 2024 Salone del Mobile Milano, the world’s leading furniture fair.
Easyhome is at the forefront, driving the transformation of the home furnishing industry into a full-service platform. It has developed a tailored solution for global brands called Gorgeous Home, which includes supportive policies and has established local distribution and service networks in international markets. During the conference, Homestyler unveiled a suite of digital products enhanced by 3D and AI technologies, including cloud-based design tools, virtual livestreaming that can alter and restore furnishing scenes to true-to-life scale, a 3D Floor Planner, a 3D Virtual Studio, and a 3D Interactive Panorama, among others. The event also marked the signing ceremony with the first group of global partners.
The Global Partners Program is a key milestone of Homestyler’s roadmap towards global commercialization. It has established close partnerships with around 1,000 global home furnishing companies and design institutions to provide solutions for digital transformation. The first global partners from more than 20 countries and regions will collaborate to explore content creation and marketing potential to deliver effective growth.
In addition, Homestyler shared the unique advantages of its software and cloud designing tools, particularly in cloud rendering, free modeling capabilities, 3D model and material libraries, one-stop workflow, and user-friendliness.
“The core technologies and products of Homestyler extend through all links both online and offline and deeply converge physical experience with digital technologies, such as attracting customers, content design and creation, interactive scene, check-out tracking and more, and we continue to optimize and enhance the 3D scenario shopping experience to empower the transformation and upgrading of the global home furnishing industry,” said Ma Xingjian, head of Homestyler’s overseas business.
Looking ahead, Easyhome and Homestyler aims to establish an international service, regional distribution and dealership system, serving as a bridge between global designers and home furnishing companies worldwide to enable designers residing in different countries and regions to highlight their 3D design solutions and boost shopping experience for the consumers.
As a creative hub for global designers, Homestyler continually expands its model library with home furnishing products from around the world and provides the latest in 3D and AI technologies to help companies promote their products across various channels. Companies such as P Life Concept London, Lahoma Ltd., and Tecnobit S.r.l. are leveraging Homestyler products to enhance the online shopping experience and increase efficiency on their websites. Homestyler plans to introduce more B2B digital products and services, including advanced 3D tools for designing, modeling, rendering, virtual studio shooting, and livestreaming. “Homestyler will further advance our international development: we are planning to establish industry-academy cooperation with Italy’s top design institution, the Polytechnic University of Milan, and the relationship with ADI. With the launch of Global Partners Program, Homestyler will continue to invest in supporting policies and boost international influence through various cooperation programs, to achieve the goal of providing better design services for users globally,” said Xu Min, general manager of Homestyler.
For more information, please visit https://www.homestyler.com.
About Homestyler
Homestyler was jointly invested in by Easyhome New Retail Group and Alibaba Group. It is dedicated to provide 3D cloud design tools for designers worldwide and delivering a comprehensive suite of 3D+AI digital solutions to the furniture and home furnishing industry.
View original content:https://www.prnewswire.co.uk/news-releases/homestyler-to-recruit-first-batch-of-global-partners-in-20-countries-302127111.html
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