<SEC-DOCUMENT>0001213900-23-073316.txt : 20240118
<SEC-HEADER>0001213900-23-073316.hdr.sgml : 20240118
<ACCEPTANCE-DATETIME>20230901170922
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001213900-23-073316
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20230901

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Linkage Global Inc
		CENTRAL INDEX KEY:			0001969401
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-CATALOG & MAIL-ORDER HOUSES [5961]
		ORGANIZATION NAME:           	07 Trade & Services
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			M0

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		2-23-3 MINAMI-IKEBUKURO, TOSHIMA-KU
		CITY:			TOKYO
		STATE:			M0
		ZIP:			171-0022
		BUSINESS PHONE:		8618695783100

	MAIL ADDRESS:	
		STREET 1:		2-23-3 MINAMI-IKEBUKURO, TOSHIMA-KU
		CITY:			TOKYO
		STATE:			M0
		ZIP:			171-0022

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Linkage Global Inc.
		DATE OF NAME CHANGE:	20230314
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"><IMG SRC="image_001.jpg" ALT=""></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Linkage Global Inc</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 296.5pt; text-align: right"><B>September 1, 2023</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Via EDGAR</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Division of Corporation Finance</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Office of Trade &amp; Services</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">U.S. Securities and Exchange Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">100 F Street, NE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Washington, D.C., 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attention:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Keira Nakada</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lyn Shenk</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Rucha Pandit</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dietrich King</FONT></TD>
    </TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Re:</B></FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Linkage Global Inc</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Amendment No. 2 to Draft Registration Statement on Form F-1</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Submitted August 4, 2023</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>CIK No. 0001969401</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This letter is in response to the letter dated
August 23, 2023 from the staff (the &ldquo;<B>Staff</B>&rdquo;) of the U.S. Securities and Exchange Commission (the &ldquo;<B>Commission</B>&rdquo;)
addressed to Linkage Global Inc (the &ldquo;<B>Company</B>,&rdquo; &ldquo;<B>we</B>,&rdquo; and &ldquo;<B>our</B>&rdquo;). For ease of
reference, we have recited the Commission&rsquo;s comments in this response and numbered them accordingly. A Registration Statement on
Form F-1 (the &ldquo;<B>Registration Statement</B>&rdquo;) is being filed to accompany this letter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Amendment No. 2 to Draft Registration Statement
on Form F-1</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Cover Page</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>1.</B></FONT></TD>
    <TD STYLE="padding-right: 0.5pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>We note your response to comment 1 and reissue in part. In this regard, we note your disclosure here as well as on pages 11 and 12 that &ldquo;[t]here are currently no restrictions on foreign exchange and [y]our ability to transfer cash among [y]our Cayman Islands holding company and [y]our principal subsidiaries in Hong Kong and Japan.&rdquo; Please revise your disclosure here and elsewhere as appropriate to address whether there are any limitations on your ability to transfer cash to investors.</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.45pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Response</U>: In response to the Staff&rsquo;s
comment, we revised our disclosure on the cover page, page 11 and page 12 of the Registration Statement to disclose the restrictions
on our ability to issue dividends or make distributions to investors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Notes to Unaudited Condensed Consolidated
Financial Statements</U>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>3. Segment Information, page F-16</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>2.</B></FONT></TD>
    <TD STYLE="padding-right: 0.5pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>We note the disclosure you provided in response to comment 15. Please revise this disclosure to include right-of-use assets by geography.</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Response</U>: In response to the Staff&rsquo;s
comment, we revised disclosure on page F-16 of the Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>2. Summary of Significant Accounting Policies</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Revenue Recognition</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Integrated E-Commerce Services, page F-39</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>3.</B></FONT></TD>
    <TD STYLE="padding-right: 0.5pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>We note the disclosure you revised in response to comment 14. Please tell us how the billing reports received from social media platforms directly correspond with the value transferred to the customers. In this regard, tell us how you consider the revenue adjustments that occur following the reconciliation process during the month following each quarter-end, including the materiality of such adjustments.</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Response</U>: We respectfully acknowledge the
Staff&rsquo;s comment. The Company introduces new Merchants to social media platforms and continuously operates ad accounts on behalf
of Merchants introduced by the Company. The billing reports record the names of Merchants and their corresponding consumption of ads for
each quarter on social media platforms, which directly correspond with the value transferred from the Group to social media platforms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company first books the estimated revenue
based on the billing report received for the preceding quarter, and trues-up the revenue amount based on the billing report for the current
quarter upon receipt in the following quarter. Generally, the Company receives the quarterly billing report within three months after
each quarter end. Since the filing dates of both the audit financial statement and interim financial statement were more than three months
after the fiscal year-end and interim period-end, the revenue as presented in the financial statements were already adjusted based on
the current billing report. The Company assessed that such adjustments is immaterial. The amount of adjustments were less than 1% and
17% of the digital marketing services for the years ended September 30, 2021 and 2022, respectively, and were less than 1% and 3% of the
total revenues for the years ended September 30, 2021 and 2022, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In responding to your comments, the Company acknowledges
that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
Company is responsible for the adequacy and accuracy of the disclosure in the filing;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Staff
comments or changes to disclosure in response to Staff comments do not foreclose the Commission from taking any action with respect to
the filing; and</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
Company may not assert Staff comments as a defense in any proceeding initiated by the Commission or any person under the federal securities
laws of the United States.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 2; Options: NewSection; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We appreciate the assistance the Staff has provided
with its comments. If you have any questions, please do not hesitate to call our counsel, Ying Li, Esq., of Hunter Taubman Fischer &amp;
Li LLC, at (212) 530-2206.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Very truly yours,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Zhihua Wu</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:&nbsp; </FONT></TD>
    <TD STYLE="width: 35%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Zhihua Wu</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: </FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Executive Officer, Director, and<BR>
 Chairman of the Board of Directors</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">cc:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ying Li, Esq.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hunter Taubman Fischer &amp; Li LLC</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">3</P>

<P STYLE="margin: 0"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin: 0">&nbsp;</P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>image_001.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 image_001.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0@)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1" "F + # 2(  A$! Q$!_\0
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M\L]<**** /D?Q!_R,NJ?]?<O_H1KL?@Q_P CY_VZR?TKCO$'_(RZI_U]R_\
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M?4U(RJZE74,I&"",@UM3JN'H9SIJ1\;9'K2U]67G@SPU?L&N=#L78="(0O\
M+%5O^%>>$?\ H 6?_?)_QKH^M1[&/L'W/ES-&:^H_P#A7GA'_H 6?_?)_P :
M/^%>>$?^@!9_]\G_ !H^M1["]@SY<S0&*L&5B&!R"#@@U]1_\*\\(_\ 0 L_
M^^3_ (T?\*\\(_\ 0 L_^^3_ (T?68]@]@^YR?PY^)\.J10Z/KDZQWZ@+#<.
M<+./0GLW\_K7>:[X=TWQ%:?9[^$,1GRY5X>,^H-9_P#PKSPC_P! "S_[Y/\
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
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
