<SEC-DOCUMENT>0000724910-17-000038.txt : 20171018
<SEC-HEADER>0000724910-17-000038.hdr.sgml : 20171018
<ACCEPTANCE-DATETIME>20171018160525
ACCESSION NUMBER:		0000724910-17-000038
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20171018
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Other Events
FILED AS OF DATE:		20171018
DATE AS OF CHANGE:		20171018

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NVE CORP /NEW/
		CENTRAL INDEX KEY:			0000724910
		STANDARD INDUSTRIAL CLASSIFICATION:	SEMICONDUCTORS & RELATED DEVICES [3674]
		IRS NUMBER:				411424202
		STATE OF INCORPORATION:			MN
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-12196
		FILM NUMBER:		171142703

	BUSINESS ADDRESS:	
		STREET 1:		11409 VALLEY VIEW ROAD
		CITY:			EDEN PRAIRIE
		STATE:			MN
		ZIP:			55344
		BUSINESS PHONE:		9528299217

	MAIL ADDRESS:	
		STREET 1:		11409 VALLEY VIEW ROAD
		CITY:			EDEN PRAIRIE
		STATE:			MN
		ZIP:			55344

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PREMIS CORP
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>NVE_Q2_FY2018_8K.htm
<DESCRIPTION>CURRENT REPORT ON FORM 8-K
<TEXT>
<p align="center"><font face="Times New Roman, Times, serif" size="5"><b>UNITED STATES<br>
SECURITIES AND EXCHANGE COMMISSION</b></font><b><font face="Times New Roman, Times, serif" size="2"><br>
Washington, D.C.&nbsp;&nbsp;20549</font></b></p><p align="center"><b><font face="Times New Roman, Times, serif" size="2"> <font size="5">FORM
8-K</font></font></b></p><p align="center"><b><font face="Times New Roman, Times, serif" size="3">CURRENT REPORT<br>
</font></b><font face="Times New Roman, Times, serif" size="3"><b>Pursuant to
Section 13 OR 15(d) of The Securities Exchange Act of 1934</b></font></p><p><font face="Times New Roman, Times, serif" size="2"><br>
Date of Report (Date of earliest event reported)&nbsp;&nbsp;<b><u>October 18,
2017</u></b><br>
</font></p><div align="center"><b><font size="6" face="Arial, Helvetica, sans-serif"><img src="nve-logo.gif" width="276" height="55" alt="NVE Logo"><br>
NVE Corporation</font></b><font face="Times New Roman, Times, serif" size="2"><br>
(Exact name of registrant as specified in its charter)</font></div><font face="Times New Roman, Times, serif" size="2">
<div align="center">
<p>&nbsp;</p></div></font>
<div align="center"></div><table border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td width="33%">
<p align="center"><font face="Times New Roman, Times, serif"><b><font size="2" ><u>Minnesota</u></font></b></font></p></td><td width="33%">
<div align="center"><font face="Times New Roman, Times, serif" size="2"><b><u>000-12196</u>
</b></font></div></td><td>
<p align="center"><b><font size="2" face="Times New Roman"><u>41-1424202</u></font></b></p></td></tr>
<tr>
<td>
<p align="center"><font size="2" face="Times New Roman, Times, serif">(State
or other jurisdiction of incorporation)</font></p></td><td>
<div align="center"><font face="Times New Roman, Times, serif" size="2">(Commission File Number) </font></div></td><td>
<div align="center"><font size="2" face="Times New Roman, Times, serif">(IRS Employer Identification No.)</font></div></td></tr>
</table><br>
<br>
<table border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td rowspan="2" width="25%"></td><td width="50%">
<p align="center"><font size="2"><b><u>11409 Valley View Road, Eden Prairie,
Minnesota</u></b></font></p></td><td>
<p align="center"><font size="2"><b><font face="Times New Roman" ><u>55344</u></font></b></font></p></td></tr>
<tr>
<td width="50%">
<p align="center"><font size="2" face="Times New Roman, Times, serif">(Address of principal executive offices)</font></p></td><td>
<p align="center"><font size="2">(Zip Code)</font></p></td></tr>
</table><br>
<font size="2" face="Times New Roman, Times, serif">Registrant&#146;s telephone
number, including area code <b><u>(952) 829-9217</u></b><br>
<br>
<div align="center"><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u><br>
(Former name or former address, if changed since last report.)</div>
<br>
</font><font style="font-size: 10pt; font-family: Times New Roman">Check the appropriate
box below if the Form 8-K filing is intended to simultaneously satisfy the filing
obligation of the registrant under any of the following provisions (see General
Instruction A.2. below):<br>
<br>
[&nbsp;&nbsp;] Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)<br>
<br>
[&nbsp;&nbsp;] Soliciting material pursuant to Rule 14a-12 under the Exchange
Act (17 CFR 240.14a-12)<br>
<br>
[&nbsp;&nbsp;] Pre-commencement communications pursuant to Rule 14d-2(b) under
the Exchange Act (17 CFR 240.14d-2(b))<br>
<br>
[&nbsp;&nbsp;] Pre-commencement communications pursuant to Rule 13e-4(c) under
the Exchange Act (17 CFR 240.13e-4(c))<br>
&nbsp;
<br>Indicate by check mark whether the registrant is
an emerging growth company as defined in Rule 405 of the Securities Act of 1933
(&sect;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of
1934 (&sect;240.12b-2 of this chapter).<br>&nbsp;<br>
<div align="right">Emerging&nbsp;growth&nbsp;company&nbsp;&nbsp;[&nbsp;&nbsp;]</div>
<br>
If an emerging growth company, indicate by check mark if the registrant has elected
not to use the extended transition period for complying with any new or revised
financial accounting standards provided pursuant to Section 13(a) of the Exchange
Act.&nbsp;&nbsp;[&nbsp;&nbsp;]&nbsp;<br>
&nbsp;<br>
</font>
<DIV STYLE="page-break-after: always;"><HR></DIV>
<font face="Times New Roman, Times, serif" size="2"><b>Item 2.02. Results of Operations
and Financial Condition.</b><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Furnished as Exhibit 99 is a press release of NVE
Corporation reporting results for the quarter ended September&nbsp;30, 2017.<br>
<br>
<br>
<b>Item 8.01. Other Events.</b><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NVE Corporation announced that its Board of Directors
approved a quarterly cash dividend to shareholders of $1.00&nbsp;per share of
common stock, payable November 30, 2017 to shareholders of record as of October
30, 2017.<br>
<p>&nbsp;</p>
<p>&nbsp;</p>
<p>&nbsp;</p>
</font>
<DIV STYLE="page-break-after: always;">
<DIV STYLE="width: 100%; text-align: center;"><font face="Times New Roman, Times, serif" size="2">2</FONT></DIV>
<HR>
</DIV>
<font face="Times New Roman, Times, serif" size="2">
<div align="center"><b>SIGNATURE</b><br>
<br>
</div>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.<br>
&nbsp;
</font>
<table border="0" cellspacing="0" cellpadding="0" width="100%">
<tr>
<td width="33%" valign="top"> <font face="Times New Roman, Times, serif" size="2">Date&nbsp;&nbsp;<b><u>October
18, 2017</u></b> </font> </td>
<td align="center" width="34%"><font face="Times New Roman, Times, serif" size="2"><b><u>NVE CORPORATION<br>
</u></b>(Registrant)<br>
<br>
<u>&nbsp;/s/&nbsp;CURT&nbsp;A.&nbsp;REYNDERS</u><br>
Curt A. Reynders<br>
Chief Financial Officer</font></td><td width="33%"></td></tr>
</table><p>
<p>&nbsp;</p><p>&nbsp;</p><p>&nbsp;</p><p align="center"><DIV STYLE="page-break-after: always;">
<DIV STYLE="width: 100%; text-align: center;"><font face="Times New Roman, Times, serif" size="2">3</FONT></DIV>
<HR>
</DIV>
<div align="center"><font face="Times New Roman, Times, serif" size="2"><b>INDEX TO EXHIBITS</b><br>
<br>
</font> </div><table width="100%" border="0" cellspacing="0" cellpadding="0">
<tr>
<td width="1%">
<div align="center"><font face="Times New Roman, Times, serif" size="2"><b><u>Exhibit&nbsp;#</u></b></font></div></td><td width="88%">
<div align="center"><font face="Times New Roman, Times, serif" size="2"><b><u>Description</u></b></font></div></td></tr>
<tr>
<td colspan="2"><font face="Times New Roman, Times, serif" size="2">&nbsp;</font></td>
</tr>
<tr>
<td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;<a href="q2-18pr.htm">99</a></font></td>
<td align="center"><font face="Times New Roman, Times, serif" size="2"><a href="q2-18pr.htm">Press
release of NVE Corporation reporting results for the quarter and six months ended
September 30, 2017 and announcing a quarterly dividend.</a></font></td>
</tr>
</table><p>&nbsp;</p><p>&nbsp;</p><p>&nbsp;</p><p align="center"><font face="Times New Roman, Times, serif" size="2"><br>
4</font>
<hr>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>q2-18pr.htm
<DESCRIPTION>PRESS RELEASE FOR QUARTER ENDED SEPT. 30, 2017
<TEXT>
<p><hr color="#225EAC" noshade size="1"> <table width="100%" border="0" cellspacing="00" cellpadding="0">
<tr> <td valign="middle"><img src="sml-logo.gif" alt="NVE Logo"></td><td align="right"><font face="Arial, Helvetica, sans-serif" size="3"><b>PRESS
RELEASE</b></font>
<br><font face="Arial, Helvetica, sans-serif" size="2">For immediate release</font></td></tr> </table><hr color="#225EAC" noshade size="1">
<div align="center"><font face="Arial, Helvetica, sans-serif"><br><b>
NVE Corporation Reports Second Quarter Results and Announces Quarterly Dividend</b></font></div>
<font face="Times New Roman, Times, serif" size="2"><br>
EDEN PRAIRIE, Minn.&#151;October 18, 2017&#151;NVE Corporation (Nasdaq: NVEC)
announced today financial results for the quarter and six months ended September&nbsp;30,
2017.<br>
<br>
Total revenue for the second quarter of fiscal 2018 decreased 4% to $7.00&nbsp;million
from $7.30&nbsp;million in the prior-year quarter. The decrease was due to a 6%
decrease in product sales, partially offset by a 25% increase in contract research
and development revenue. Net income for the second quarter of fiscal 2018 decreased
4% to $3.16&nbsp;million, or $0.65&nbsp;per diluted share, compared to $3.31&nbsp;million,
or $0.68&nbsp;per share, for the prior-year quarter.<br>
<br>
For the first six months of fiscal 2018, total revenue increased 4% to $14.6&nbsp;million
from $14.0&nbsp;million for the first six months of the prior year. The increase
was primarily due to a 5% increase in product sales.
Net income increased slightly to $6.46&nbsp;million, or $1.33 per diluted share,
for the first half of fiscal 2018 compared to $6.44&nbsp;million, or $1.33 per
share, for the first half of fiscal 2017.<br>
<br>
The company also announced a quarterly cash dividend to shareholders of $1.00
per share of common stock, payable November&nbsp;30, 2017 to shareholders of record
as of October&nbsp;30, 2017.<br>
<br>
&#147;We are pleased to report solid earnings for the quarter,&#148; said NVE
President and Chief Executive Officer Daniel&nbsp;A. Baker, Ph.D.<br>
<br>>NVE is a leader in the practical commercialization of spintronics, a nanotechnology
that relies on electron spin rather than electron charge to acquire, store and
transmit information. The company manufactures high-performance spintronic products
including sensors and couplers that are used to acquire and transmit data. NVE
has also licensed its spintronic magnetoresistive random access memory technology,
commonly known as MRAM.<br>
<br>
<b>Statements used in this press release that relate to future plans, events,
financial results or performance are forward-looking statements that are subject
to certain risks and uncertainties including, among others, such factors as risks
related to our reliance on several large customers for a significant percentage
of revenue, uncertainties related to the economic environments in the industries
we serve, uncertainties related to future contract research and development revenue,
uncertainties related to future stock repurchases and dividend payments, as well
as the risk factors listed from time to time in our filings with the SEC, including
our Annual Report on Form 10-K for the fiscal year ended March 31, 2017 and other
reports filed with the SEC.</b><br>
<br>
<div align="center">###</div>
</font>
<pre><b>                            NVE CORPORATION
                          STATEMENTS OF INCOME
  QUARTERS AND SIX MONTHS ENDED SEPTEMBER 30, 2017 AND 2016 (Unaudited)

                                             Quarter Ended September 30
                                                  2017            2016</b>
                                            -----------------------------
Revenue
  Product sales                             $   6,387,080   $   6,814,384
  Contract research and development               609,154         488,155
                                            -----------------------------
Total revenue                                   6,996,234       7,302,539
Cost of sales                                   1,353,169       1,740,814
                                            -----------------------------
Gross profit                                    5,643,065       5,561,725
Expenses
  Selling, general, and administrative            348,363         343,688
  Research and development                      1,030,504         768,188
                                            -----------------------------
Total expenses                                  1,378,867       1,111,876
                                            -----------------------------
Income from operations                          4,264,198       4,449,849
Interest income                                   387,860         430,983
                                            -----------------------------
Income before taxes                             4,652,058       4,880,832
Provision for income taxes                      1,491,023       1,575,635
                                            -----------------------------
Net income                                  $   3,161,035   $   3,305,197
                                            =============================
Net income per share - basic                $        0.65   $        0.68
                                            =============================
Net income per share - diluted              $        0.65   $        0.68
                                            =============================
Weighted average shares outstanding
  Basic                                         4,841,010       4,835,564
  Diluted                                       4,845,632       4,837,819


                                            <b>Six Months Ended September 30
                                                 2017            2016</b>
                                           ------------------------------
Revenue
  Product sales                            $   13,269,753   $  12,665,598
  Contract research and development             1,334,147       1,344,713
                                           ------------------------------
Total revenue                                  14,603,900      14,010,311
Cost of sales                                   3,151,535       3,125,992
                                           ------------------------------
Gross profit                                   11,452,365      10,884,319
Expenses
  Selling, general, and administrative            747,724         733,603
  Research and development                      1,936,229       1,526,556
                                           ------------------------------
Total expenses                                  2,683,953       2,260,159
                                           ------------------------------
Income from operations                          8,768,412       8,624,160
Interest income                                   749,638         868,717
                                           ------------------------------
Income before taxes                             9,518,050       9,492,877
Provision for income taxes                      3,059,400       3,055,135
                                           ------------------------------
Net income                                 $    6,458,650   $   6,437,742
                                           ==============================
Net income per share - basic               $         1.33   $        1.33
                                           ==============================
Net income per share - diluted             $         1.33   $        1.33
                                           ==============================
Weighted average shares outstanding
  Basic                                         4,841,010       4,835,289
  Diluted                                       4,845,907       4,837,293

<b>
                              NVE CORPORATION
                               BALANCE SHEETS
                       SEPTEMBER 30 AND MARCH 31, 2017

                                            (Unaudited)
                                           Sept. 30, 2017  March 31, 2017</b>
                                           ------------------------------
ASSETS
Current assets
  Cash and cash equivalents                $   5,108,313    $   8,199,364
  Marketable securities, short term           16,921,738       19,591,833
  Accounts receivable, net of allowance
    for uncollectible accounts of $15,000      2,659,618        3,436,802
  Inventories                                  3,504,478        3,358,298
  Prepaid expenses and other assets              523,190          607,283
                                           ------------------------------
Total current assets                          28,717,337       35,193,580
Fixed assets
  Machinery and equipment                      9,447,726        9,007,455
  Leasehold improvements                       1,730,525        1,644,419
                                           ------------------------------
                                              11,178,251       10,651,874
  Less accumulated
    depreciation and amortization              9,555,119        9,238,626
                                           ------------------------------
Net fixed assets                               1,623,132        1,413,248
Long-term deferred tax assets                    432,106          357,055
Marketable securities, long term              59,622,760       56,810,923
                                           ------------------------------
Total assets                               $  90,395,335    $  93,774,806
                                           ==============================

LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities
  Accounts payable                         $     249,697    $     376,275
  Accrued payroll and other                      580,838          576,313
  Deferred revenue                                     -          142,733
                                            -----------------------------
Total current liabilities                        830,535        1,095,321

Shareholders' equity
  Common stock                                    48,410           48,410
  Additional paid-in capital                  19,548,268       19,507,348
  Accumulated
    other comprehensive income (loss)             29,467          (38,298)
  Retained earnings                           69,938,655       73,162,025
                                           ------------------------------
Total shareholders' equity                    89,564,800       92,679,485
                                           ------------------------------
Total liabilities and shareholders' equity $  90,395,335    $  93,774,806
                                           ==============================</pre>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>nve-logo.gif
<DESCRIPTION>NVE CORPORATION LOGO
<TEXT>
begin 644 nve-logo.gif
M1TE&.#EA% $V +,   !&K0DW>0<C3$!.8GAY>O___^+BXK2TM
M                     "P     % $V   $_[#(20M!..M3NY>7I@E<-8CB
M\*UL@:*5(<QT;=]X?I?4\?[ H'!(+!I?O,\ P&PV X36BN"L"@P=0J#J%$B_
MH"V7>:T<Q..T>MW%5K3LN'Q.K]NY999@G0=/EFE>'6=J?7X>,FH!*F]WCET>
M5(^3E)5W@BN$BE&'$GMIC#&?8P%)G11P@6X4@)9TH:RNLK.SL)%H@:>:7% ?
MH[R<IQ2):;T=O[3%P13(R<[/FRVMA:92J;S5$M-<ML+7>*L3Q-#8@[CDZ.2E
M+<UCRU_;;1^2H,+#[4SKYNE6X6'\ )\9ZC".CS]VA::<@V1/V\(FW4 $;(()
MU<2+LBIZV+7&V)>"5?_>]7A(YJ"? _@ D%"",6(\C##K1+0X1R,+CDX\>DBI
M3]C+?#,+I 1PQ$BVHDB3*ETJ)%NLFDZSD.RY<XU(,"@+F2P LDK0AF##BAU+
M]EB=JQY^JI2VYJN>:!]PYHQ:MJ[=NWBY#@7W):5;>F/<QB6I<JL%@WD3*U[<
M4&Y'M/?40);@F,RIKD\FJUW+N+/GSR8N2:FL$Q%/NK>TOI4,NK7KQ)L#H09<
MA:HO1:A%X;Y)V/;KW\"%[:W'0JW-M%8/?;/28KF\X-"C?ZG,9F %OU]H>_6#
MF<QL/M+#BY=:C"?D[@ F3W!.T0][ (ND#!4\OOYGXP,('Z<\53W_A!^E9)W_
M;LK89R!T J+GFT2J!+B;%/D5V )U QYHX6+HJ;#93,;Y8=YH"5JCWX4D?D9=
M%!2:A!T8F_FG5FDL%<*4")/-:..-./[P73$E?&@&8?ZMU]:$^AG&3$#G#1?3
MDK6I9YP;[W&&RE2Y34 A0A*V@!XM"_['Y)=Q=#F!@.*<UDB#8*!7H04C3D<8
M+6M&">:<^Y6I!BS:.6%+AX>8:1HU8.0I4'%S%DI<)OWU$*($&7;R(EI1TJ<-
MDJL9:BD3Z@D*GRD^%G!B)YJF]Z=L'@($HYV76GKJ4V,,%"4F[XDY#V$1Q1HD
MHTI:LB9UJ<*T4J5X$.3GDYU<26"K1OX(4)V']6HH_[.> ID:<61VHJ8_$9)R
M*X.!Y%ACCN"&N]1LB0Z28*.G^$G9HBP.6>*[BKWHE'F?GO(HJ\!T,M2V\/;;
M)X ;Z:>IK%,DMR[ ::KK[\)AH3LJ*>P>0ETH E8YI6H,9]R8M H5@K#$;4Y\
M2JC0:FSRK#RRL.6=#9U;L;WNGBPS/!BO$%L:_(;&8ZR27F?PS$"O4"UO=A!,
MJ&018]6;Q4%G[/ **_-ESZOE@EIDTUB/Q)J(=91,=#$U'[*9UUDS/'"54>L)
M5MI-VC-?V6432S,=.9ME!]G"_@QWT$./]N9<8=U<&]/*%B,N H@<KOCB01#)
M<JERK!FH'3V3-]%Q@CN[;)!S56?WMV5AR6D%X3I/=%6NFJ>3Z8,)RU'Y8'/$
MU_)%,+*=NCKJ)0UAF'57%7FR*J/NBF^\WLZ/K&KJ\K?1?<FQJM(7'2>Z\>A
M6Z^^U0$_=_9@A?J,2]0S^5?G[KV)=W.\!X[1Z>$OZ23KAVSY.J+<@R6\);7?
<W_[PN0-QO@E!Z%WBFM(PQNEH$ 9,H %1$P$ .P$!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>4
<FILENAME>sml-logo.gif
<DESCRIPTION>NVE CORPORATION LOGO
<TEXT>
begin 644 sml-logo.gif
M1TE&.#EA9@ = ,0   !&K=79W^CJ[0TL5%1OD@!*J ! D0 Q;P <0! E0"U)
M:WJ2L)^RRL/(SO____?W][6UM:BHJ(V-C6YN;E%143<W-R4E)0
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)0L=YL@HA   [

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