<SEC-DOCUMENT>0000926326-17-000017.txt : 20170706
<SEC-HEADER>0000926326-17-000017.hdr.sgml : 20170706
<ACCEPTANCE-DATETIME>20170519170810
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0000926326-17-000017
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20170519

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			OMNICELL, Inc
		CENTRAL INDEX KEY:			0000926326
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRONIC COMPUTERS [3571]
		IRS NUMBER:				943166458
		STATE OF INCORPORATION:			CA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		590 E. MIDDLEFIELD ROAD
		CITY:			MOUNTAIN VIEW
		STATE:			CA
		ZIP:			94043
		BUSINESS PHONE:		6502516100

	MAIL ADDRESS:	
		STREET 1:		590 E. MIDDLEFIELD ROAD
		CITY:			MOUNTAIN VIEW
		STATE:			CA
		ZIP:			94043

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	OMNICELL INC /CA/
		DATE OF NAME CHANGE:	20010625

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	OMNICELL COM /CA/
		DATE OF NAME CHANGE:	20000419

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	OMNICELL TECHNOLOGIES INC
		DATE OF NAME CHANGE:	19960807
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
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<div><a name="sE65E438CE605D35AF66D12B9E9FFFDFA"></a></div><div></div><div><br></div><div style="line-height:120%;text-align:right;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;&#32;</font><img src="omnicelllogoa02.jpg" alt="omnicelllogoa02.jpg" style="height:65px;width:200px;"></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">May 19, 2017</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Via EDGAR</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Mr. Stephen Krikorian</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Ms. Amanda Kim</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Mr. Bernard Nolan</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Mr. Mitchell Austin</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Securities and Exchange Commission</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">100 F Street, N.E.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Washington, D.C. 20549</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Re: Omnicell, Inc.</font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Form 10-K for the Fiscal Year Ended December 31, 2016</font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Filed February 28, 2017</font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Form 8-K</font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Filed May 4, 2017</font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">File No. 000-33043</font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Ladies and Gentlemen:</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On behalf of Omnicell, Inc. (the &#8220;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Company</font><font style="font-family:inherit;font-size:10pt;">&#8221;), set forth below are the Company&#8217;s responses to the comment letter dated May 11, 2017 (the &#8220;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Comment Letter</font><font style="font-family:inherit;font-size:10pt;">&#8221;) received from the Staff of the Commission (the &#8220;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Staff</font><font style="font-family:inherit;font-size:10pt;">&#8221;) with respect to the above-referenced Form 10-K for Fiscal Year Ended December 31, 2016 filed with the Securities and Exchange Commission on February 28, 2017, and Form 8-K for the quarterly period ended March 31, 2017 filed with the Securities and Exchange Commission on May 4, 2017. For your convenience, the Company has reproduced the comments from the Staff in italics below in the order provided, followed by the Company&#8217;s corresponding response.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Comment 1:  Business Sales and Distribution, page 18</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">You disclose that no customer accounted for greater than 10% of your revenues in fiscal years 2014 to 2016. It appears, however, that your revenue concentration may be higher in light of the group purchasing organizations through which your customers purchase your products. Please tell us the percentage of your revenues that was attributable to any GPO that accounted for 10% or more of your revenues for the above periods and, in future filings, provide disclosure of this revenue concentration to the extent material. Consider Item 101(c)(1)(vii) of Regulation S-K. </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In response to the Staff&#8217;s comment, the Company respectfully advises the Staff that the Company has ongoing relationships with approximately twenty Group Purchasing Organizations (&#8220;GPOs&#8221;).  These GPOs function only as purchasing agents on behalf of the Company&#8217;s customers. The Company&#8217;s customers consist of hospitals, pharmacies and other healthcare providers, as well as government entities and agencies and the Company's performance obligations and collection of accounts receivables is directly with the customer, not with the GPO.  While the Company has entered into individual contractual arrangements with GPOs under which an administration fee is paid, the vast majority of the end-user customers (e.g. hospitals, pharmacies, etc.) negotiate a purchase agreement directly with the Company.  The following summarizes the key features of these arrangements:</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><br></div><div></div><hr style="page-break-after:always"><div></div><div><br></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">End-user customers can be a member of multiple GPOs and are not limited to a selection of one particular group;</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">End-user customers have the ability to contact the Company directly, enter into a multi-year, sole source&#160;agreement and, as a result of their commitment, negotiate better pricing than GPO pricing.  It has been our experience that in nearly every instance, the end-user customers contact the Company and negotiate directly with the Company, regardless of whether they are members of any GPO group; and </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company&#8217;s performance obligation and collection of accounts receivables is directly with the end-user customer, not the GPO.</font></div></td></tr></table><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">For the years ended December 31, 2014, 2015, and 2016 total sales to customers who were members of any GPO accounted for 71%, 66%, and 65% of total annual sales, respectively.  During 2014, there were 3 GPOs which accounted for more than 10% of the Company&#8217;s total consolidated annual sales.  Specifically, revenue from GPO A, GPO B and GPO C accounted for 10%, 14%, and 28% of total revenue, respectively. During 2015 and 2016, there were 2 GPOs which accounted for more than 10% of the Company&#8217;s total consolidated annual sales.  Specifically, 2015 revenue from GPO B and GPO C accounted for 13% and 22% of total revenue, respectively. During 2016 revenue from GPO B and GPO C accounted for 13% and 24% of total revenue, respectively. There were no individual third-party customers which are members of any GPOs whose sales represented 10% or more of the Company&#8217;s total consolidated annual revenue.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company respectfully acknowledges the Staff&#8217;s comment, and will enhance our disclosures around concentration of risk by including the following additional disclosure in the Business Sales and Distribution section prospectively in future Annual Reports on Form 10K to be filed with SEC:</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:10px;text-align:left;padding-left:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8220;... During&#160;our fiscal year ended December __, __, sales to our&#160;ten&#160;largest customers, including revenue from contracts that used group purchasing organizations (&#8220;GPOs&#8221;) as an agent accounted for approximately&#160;____%&#160;of our total consolidated revenues. At December __, ___, trade accounts receivable from our&#160;ten&#160;largest customers were approximately&#160;___%&#160;of total trade accounts receivable. We also have agreements with GPOs, each of which functions as a purchasing agent on behalf of member hospitals, pharmacies and other healthcare providers, as well as with government entities and agencies. The accounts receivable balances are with individual members of the GPOs, and therefore no significant concentration of credit risk exists.&#8221;</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Comment 2:  Form 8-K filed May 4, 2017</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">&#32;</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">We note that you omit the most directly comparable GAAP measures and quantitative reconciliation with respect to your forward-looking non-GAAP guidance, but you do not provide the disclosures required when the reconciliation is omitted. In your next earnings release, please follow the guidance in Item 10(e)(1)(i)(A) of Regulation S-K and Question 102.10 of the updated Non-GAAP Compliance and Disclosure Interpretations issued on May 17, 2016. </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company acknowledges the Staff&#8217;s comment and will comply with Item&#160;10(e)(1)(i)(A) of Regulation S-K and provide a reconciliation to the comparable GAAP&#160;guidance. If a reconciliation cannot be provided without unreasonable effort, we will identify the information that is not available without unreasonable effort, and disclose its probable significance.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In addition, the Company acknowledges its responsibility for the adequacy and accuracy of the disclosure in the filing.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Please do not hesitate to call me at (650) 251-6180 if you have any questions or would like any additional information regarding this matter.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><br></div><div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Sincerely,</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">/s/ Peter J. Kuipers</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">_____________________________________________________</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Peter J. Kuipers, Executive Vice President and Chief Financial Officer</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">cc: Dan S. Johnston - Omnicell, Inc.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#32;&#32;&#32;&#32;&#32;&#32;Sally Kay - Cooley LLP</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#32;&#32;&#32;&#32;&#32;&#32;Mark Farley - Deloitte &amp; Touche LLP</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><br></div><div></div>	</body>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
