<SEC-DOCUMENT>0001193125-24-172266.txt : 20240806
<SEC-HEADER>0001193125-24-172266.hdr.sgml : 20240806
<ACCEPTANCE-DATETIME>20240628161258
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001193125-24-172266
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20240628

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AMERICA MOVIL SAB DE CV/
		CENTRAL INDEX KEY:			0001129137
		STANDARD INDUSTRIAL CLASSIFICATION:	TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813]
		ORGANIZATION NAME:           	06 Technology
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			O5
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		LAGO ZURICH 245
		STREET 2:		COLONIA GRANADA AMPLIACION
		CITY:			MEXICO DF
		STATE:			O5
		ZIP:			11529
		BUSINESS PHONE:		5255-2581-4449

	MAIL ADDRESS:	
		STREET 1:		LAGO ZURICH 245
		STREET 2:		COLONIA GRANADA AMPLIACION
		CITY:			MEXICO DF
		STATE:			O5
		ZIP:			11529

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AMERICA MOVIL SA DE CV/
		DATE OF NAME CHANGE:	20010119

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AMERICA  MOBILE
		DATE OF NAME CHANGE:	20001221

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AMERICAN MOBILE
		DATE OF NAME CHANGE:	20001215
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
<TEXT>
<HTML><HEAD>
<TITLE>CORRESP</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE" STYLE="line-height:Normal">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt;margin-bottom:0pt; margin-right:1%" ALIGN="right">


<IMG SRC="g810883g0628223232776.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">June&nbsp;28, 2024 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>VIA EDGAR TRANSMISSION </U></B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Office of Technology </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Attn Megan Akst and Christine Dietz </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Division of Corporation
Finance </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">U.S. Securities&nbsp;&amp; Exchange Commission &#8195; </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">100 F Street, NE </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Washington, DC </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">Re:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Am&eacute;rica M&oacute;vil, S.A.B. DE C.V.</B> </P></TD></TR></TABLE>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>Form <FONT STYLE="white-space:nowrap">20-F</FONT> and <FONT STYLE="white-space:nowrap">20-F/A</FONT> for the Fiscal Year Ended
December&nbsp;31, 2023 </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>Form <FONT STYLE="white-space:nowrap">6-K</FONT> furnished on April&nbsp;19, 2024 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>File <FONT STYLE="white-space:nowrap">No.001-16269</FONT> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Ms.&nbsp;Akst and Ms.&nbsp;Dietz, </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This
letter responds to comments of the staff (the &#147;<U>Staff</U>&#148;) of the Securities and Exchange Commission (the &#147;<U>Commission</U>&#148;) set forth in a letter dated May&nbsp;28, 2024, regarding the above-referenced Annual Report on Form
<FONT STYLE="white-space:nowrap">20-F</FONT> and <FONT STYLE="white-space:nowrap">20-F/A</FONT> for the fiscal year ended December&nbsp;31, 2023 (the &#147;<U>Annual Report</U>&#148;) and Form <FONT STYLE="white-space:nowrap">6-K</FONT> dated
April&nbsp;19, 2024 (the &#147;<U>Form <FONT STYLE="white-space:nowrap">6-K</FONT></U>&#148;) of <B>Am&eacute;rica M&oacute;vil, S.A.B. DE C.V.</B> (<I>America Mobile</I>) (&#147;<U>AMX</U>&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We have reproduced the Staff&#146;s comments below in bold and provided our responses immediately below. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Form <FONT STYLE="white-space:nowrap">20-F</FONT> and <FONT STYLE="white-space:nowrap">20-F/A</FONT> for the Fiscal Year Ended December&nbsp;31, 2023
</U></B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Operating and Financial Review and Prospects </U></B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Results of Operations </U></B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Interperiod Segment
Comparisons, page 28 </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B>Comment 1. We note your discussion of the changes in <FONT STYLE="white-space:nowrap">non-IFRS</FONT>
adjusted segment results. Please revise to disclose and analyze IFRS results with equal or greater prominence. Also, revise to reconcile the differences between the most directly comparable financial measure calculated and presented in accordance
with IFRS and the <FONT STYLE="white-space:nowrap">non-IFRS</FONT> measures. Refer to Item 10(e)(1)(i) of Regulation <FONT STYLE="white-space:nowrap">S-K</FONT> and Question 102.10(a) of the <FONT STYLE="white-space:nowrap">non-GAAP</FONT>
C&amp;DIs. </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">We acknowledge the Staff&#146;s comments regarding our presentation of IFRS measures and adjusted operating revenues,
adjusted operating income, operating margin and adjusted operating margin (collectively, the &#147;<U><FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures</U>&#148;). In preparing the Annual Report, we took efforts to follow the actions
prescribed by Item 10(e)(1)(i) of Regulation <FONT STYLE="white-space:nowrap">S-K</FONT> and the guidance published in Question 102.10(a) of the <FONT STYLE="white-space:nowrap">non-GAAP</FONT> C&amp;DIs. In particular, we considered our tabular
disclosure of operating revenues and operating income on pages 27 and 28 of the Annual Report to be presented with &#147;equal or greater prominence&#148; to our discussion of the <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures from pages
29 to 33 of the Annual Report. Moreover, we understand operating revenues and operating </P>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">
income to be the most directly comparable financial measures calculated and presented in accordance with IFRS to the <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures. Consequently, we
considered our discussion of the <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures from pages 29 to 33 of the Annual Report to textually reconcile the
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">segment-by-segment</FONT></FONT> differences between the <FONT STYLE="white-space:nowrap">Non-IFRS</FONT> Measures and the operating revenues and operating income values presented on
pages 27 and 28 of the Annual Report. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">We have duly evaluated the Staff&#146;s comments, and we will revise our presentation of <FONT
STYLE="white-space:nowrap">non-IFRS</FONT> measures within our annual report on Form <FONT STYLE="white-space:nowrap">20-F</FONT> for the year ended December&nbsp;31, 2024 and future filings to ensure that IFRS measures are presented with at least
equal prominence when we disclose any <FONT STYLE="white-space:nowrap">non-IFRS</FONT> measures. We will also revise our reconciliations where necessary so as to more clearly present the required adjustments. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Form <FONT STYLE="white-space:nowrap">6-K</FONT> furnished on April&nbsp;19, 2024 </U></B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>General </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B>Comment 2. We note that
you present what appears to be a <FONT STYLE="white-space:nowrap">non-IFRS</FONT> income statement on page 8. The presentation of a <FONT STYLE="white-space:nowrap">non-IFRS</FONT> income statement, or a presentation that gives the appearance of
one, may place undue importance on the <FONT STYLE="white-space:nowrap">non-IFRS</FONT> information and may give the impression that the <FONT STYLE="white-space:nowrap">non-IFRS</FONT> income statement represents a comprehensive basis of
accounting. Please remove this presentation in future filings. Refer to Rule 100(b) of Regulation G. Also, ensure that you provide a reconciliation from IFRS net income to <FONT STYLE="white-space:nowrap">non-IFRS</FONT> EBITDA and Adjusted EBITDA
in your revised disclosures. </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B>Comment 3. We note that you present EBITDA margin and Adjusted EBITDA margin without a corresponding
measure calculated in accordance with IFRS. You also disclose EBITDA, Adjusted EBITDA and EBIT for each segment but do not present the most directly comparable IFRS measure, the segment measure of performance as disclosed in your financial
statements, nor do you provide the required reconciliations. Please revise in future filings to ensure that for all <FONT STYLE="white-space:nowrap">non-IFRS</FONT> measures you disclose the most directly comparable financial measure calculated in
accordance with IFRS and provide a reconciliation from the IFRS measure to the <FONT STYLE="white-space:nowrap">non-IFRS</FONT> measure. Refer to Item 100(a)(1) and (2)&nbsp;of Regulation G. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">We acknowledge the Staff&#146;s comments but respectfully submit that pursuant to Rule 100(c) of Regulation G, AMX is exempt from the
requirements of Rules 100(a)&#150;(b) of Regulation G with respect to Form <FONT STYLE="white-space:nowrap">6-K.</FONT> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">AMX believes its
disclosure of <FONT STYLE="white-space:nowrap">non-IFRS</FONT> financial information and its inclusion in the Form <FONT STYLE="white-space:nowrap">6-K</FONT> falls within the Rule 100(c) exception. First, AMX is a foreign private issuer whose B
shares are listed on the <I>Bolsa Mexicana de Valores</I> (BMV), a securities exchange located outside the United States. Second, the <FONT STYLE="white-space:nowrap">non-IFRS</FONT> financial measures identified by the Staff are derived from
AMX&#146;s financial statements, which are prepared in accordance with International Financial Reporting Standards (IFRS), as issued by the International Accounting Standards Board (IASB), and therefore are not derived from or based on measures
calculated and presented in accordance with generally accepted accounting principles in the United States. Third, the disclosure identified by the Staff was made by AMX outside the United States, specifically via a report filed with the Mexican
securities regulator (the <I>Comisi&oacute;n Nacional Bancaria y de Valores</I>) in compliance with AMX&#146;s ongoing reporting obligations under Mexican law. As provided in the Note to Rule 100(c), the exception is not impacted by the fact that
the disclosure (i)&nbsp;was contemporaneously distributed in the United States using AMX&#146;s regular public relations distribution service, (ii)&nbsp;was available to foreign journalists, U.S. journalists and other third parties,
(iii)&nbsp;appeared and continues to appear on AMX&#146;s website, which is not available exclusively to, or targeted at, persons located in the </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">
United States and (iv)&nbsp;following the filing with the Mexican securities regulator, was submitted by AMX to the SEC under cover of the referenced Form
<FONT STYLE="white-space:nowrap">6-K</FONT> in order to comply with AMX&#146;s ongoing reporting obligations pursuant to Rule <FONT STYLE="white-space:nowrap">13a-16</FONT> of the Securities Exchange Act of 1934. AMX therefore respectfully submits
that the disclosure included in the Form <FONT STYLE="white-space:nowrap">6-K</FONT> qualifies for the exemption provided by Rule 100(c) to the disclosure requirements of Rules 100(a)&#150;(b) of Regulation G. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Nonetheless, AMX acknowledges its obligation to comply with Item 10(e) of Regulation <FONT STYLE="white-space:nowrap">S-K</FONT> in its Form <FONT
STYLE="white-space:nowrap">20-F</FONT> and in any Form <FONT STYLE="white-space:nowrap">6-K</FONT> that AMX files and incorporates by reference in any future registration statement under the Securities Act of 1933, as amended. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">*&#8195;&#8195;*&#8195;&#8195; * </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Thank you for
your consideration of our response. If you have any questions or require any additional information with respect to the above, please do not hesitate to contact AMX, Duane McLaughlin <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">(+1-212-225-2106)</FONT></FONT></FONT> or Manuel Silva <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">(+1-212-225-2293),</FONT></FONT></FONT> our U.S. counsel at Cleary
Gottlieb Steen&nbsp;&amp; Hamilton LLP. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>

<TD WIDTH="7%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Sincerely,</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">By:</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">/s/ Carlos Jos&eacute; Garc&iacute;a Moreno
Elizondo</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Carlos Jos&eacute; Garc&iacute;a Moreno Elizondo</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Chief Financial Officer</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Am&eacute;rica M&oacute;vil, S.A.B. DE C.V.</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">(Registrant)</P></TD></TR>
</TABLE></DIV> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">cc.:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Duane McLaughlin </P></TD></TR></TABLE>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Manuel Silva </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><I>Cleary Gottlieb
Steen&nbsp;&amp; Hamilton LLP</I> </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>

</DIV></Center>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>g810883g0628223232776.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g810883g0628223232776.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0D)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1"  Y *0# 2(  A$! Q$!_\0
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MI=ZA+,()XH(HBJLD4JO+@\[^A&,>GH>:BU^5;K48+*>XLX+)]T1DE4,PFP"
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M-KJWBVQ\0R7<T<UIY>V)5&UMC%N?SIFK^ [34O$T?B"&_NK/4(PNUH@I7*C
M)# YXXKIYKF"WV^?-'%NZ;W"Y_.F)?V<DOE)=P-)G&P2 G/IBK52?07*C$U#
MP[J>J6;6ESXCN4A?&_[/ D;G!S][J.G:F3^"K.Y\(GP[/>WLL);>9WD#2D[M
MW4C'MTK?%]:--Y*W4!ESC8)!NSZ8J9G5%+.P51U).*7/)!RHYG2_"^H:-I\6
MGV/B&X6UBR(U>VB8J"<XSCWJ'3? L-AXN?Q')J=S<W3@AA(B@'*X[ 5<U?7[
MJ&2./2(].NL_?>:^6,+[ <DUL0W!CLHY;Z6WC<@;V1_W8/L3BJ<II7[BM$+J
MU\]XI5.)8B2I/N,$?Y]*Q]0?RP89&Y89:-QYJOZY1N2/=3^%;Z.DB!XV5U/(
M93D&FS0PSIMFC21>N' (J%)H;C<X(3-;JR"25(G&!%;W1('MLD&<5O:+87LC
MQ7%[),(HEQ CL-Q'OCZ#BM.$:5;NAC>W5I!\A,@)(SVR?Y52NO%VEV?B6#0)
M6F^W3[=@"97G..?PK13DU9(R5*SO)F[1116)N%%%% !1110 4444 %%%% !1
M110!Y1\;(99H=$\N)WPTV=JDX^Y53XM:/;6FGZ&VG6"1.-ZDP18. %QG'X_K
M7L5%=$*[CRZ;7,W"]_,\=^+&C6UE8:$^F6*PR+O4M!'@X 7&2.OX^]2_%ZVO
MKB+09$AGFM4C?S=BD@'Y.OU']:]=HHC7:Y=-K_B#IWOYG$75UX%;09?+ATOR
MS 2D8MUWYQQ\N,Y_6N=^$FDO=Z%K5IJMF[V,[QA8YD(5CALD>_W>1[5ZS14^
MUM%Q74?)K<\M3^UOAAJJQ8GU#PO<R?+@;GMB?\_0^QKHS<3^-IFAMC-;^'4.
M)9L%'O3W1<X*Q]B>IZ#O77T4G5OK;7N"C;3H>0?$"S\KXB>&8[6VV01+ H6-
J,*H$IXXX%3^((93\<-)D$;E L66"G'0UZQ15JO9)6Z6$X!1117.:'__9

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
