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0 0 0 rg BT 340.41 514.25 Td (20% ) Tj ET Q q 0 0 0 rg BT 360.82 514.25 Td (gross ) Tj ET Q q 0 0 0 rg BT 384.00 514.25 Td (total ) Tj ET Q q 0 0 0 rg BT 403.85 514.25 Td (return ) Tj ET Q q 0 0 0 rg BT 429.80 514.25 Td (in ) Tj ET Q q 0 0 0 rg BT 439.65 514.25 Td (our ) Tj ET Q q 0 0 0 rg BT 455.05 514.25 Td (public ) Tj ET Q q 0 0 0 rg BT 482.12 514.25 Td (holdings ) Tj ET Q q 0 0 0 rg BT 518.64 514.25 Td (and ) Tj ET Q q 0 0 0 rg BT 535.15 514.25 Td (a ) Tj ET Q q 0 0 0 rg BT 541.66 514.25 Td (1.5% ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 502.25 Td (gain ) Tj ET Q q 0 0 0 rg BT 68.71 502.25 Td (in ) Tj ET Q q 0 0 0 rg BT 78.49 502.25 Td (our ) Tj ET Q q 0 0 0 rg BT 93.81 502.25 Td (NA) Tj ET Q q 0 0 0 rg BT 106.97 502.25 Td (V) Tj ET Q q 0 0 0 rg BT 112.90 502.25 Td (. ) Tj ET Q q 0 0 0 rg BT 117.40 502.25 Td ( ) Tj ET Q q 0 0 0 rg BT 119.39 502.25 Td ( ) Tj ET Q q 0 0 0 rg BT 121.39 502.25 Td (In ) Tj ET Q q 0 0 0 rg BT 131.71 502.25 Td (some ) Tj ET Q q 0 0 0 rg BT 154.82 502.25 Td (ways, ) Tj ET Q q 0 0 0 rg BT 179.87 502.25 Td (I ) Tj ET Q q 0 0 0 rg BT 185.19 502.25 Td (may ) Tj ET Q q 0 0 0 rg BT 204.41 502.25 Td (be ) Tj ET Q q 0 0 0 rg BT 215.84 502.25 Td (more ) Tj ET Q q 0 0 0 rg BT 238.38 502.25 Td (satisfied ) Tj ET Q q 0 0 0 rg BT 273.71 502.25 Td (with ) Tj ET Q q 0 0 0 rg BT 293.48 502.25 Td (our ) Tj ET Q q 0 0 0 rg BT 308.81 502.25 Td (2018 ) Tj ET Q q 0 0 0 rg BT 330.80 502.25 Td (performance ) Tj ET Q q 0 0 0 rg BT 383.32 502.25 Td (than ) Tj ET Q q 0 0 0 rg BT 402.53 502.25 Td (I ) Tj ET Q q 0 0 0 rg BT 407.86 502.25 Td (was ) Tj ET Q q 0 0 0 rg BT 425.41 502.25 Td (in ) Tj ET Q q 0 0 0 rg BT 435.18 502.25 Td (2017. ) Tj ET Q q 0 0 0 rg BT 459.68 502.25 Td ( ) Tj ET Q q 0 0 0 rg BT 461.67 502.25 Td (Now ) Tj ET Q q 0 0 0 rg BT 483.11 502.25 Td (don) Tj ET Q q 0 0 0 rg BT 501.26 502.25 Td (t ) Tj ET Q q 0 0 0 rg BT 506.04 502.25 Td (get ) Tj ET Q q 0 0 0 rg BT 520.25 502.25 Td (me ) Tj ET Q q 0 0 0 rg BT 534.46 502.25 Td (wrong, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 490.25 Td (there ) Tj ET Q q 0 0 0 rg BT 72.67 490.25 Td (were ) Tj ET Q q 0 0 0 rg BT 95.28 490.25 Td (plenty ) Tj ET Q q 0 0 0 rg BT 123.46 490.25 Td (of ) Tj ET Q q 0 0 0 rg BT 134.97 490.25 Td (lessons ) Tj ET Q q 0 0 0 rg BT 167.05 490.25 Td (to ) Tj ET Q q 0 0 0 rg BT 178.01 490.25 Td (have ) Tj ET Q q 0 0 0 rg BT 200.07 490.25 Td (been ) Tj ET Q q 0 0 0 rg BT 222.13 490.25 Td (learned ) Tj ET Q q 0 0 0 rg BT 254.74 490.25 Td (from ) Tj ET Q q 0 0 0 rg BT 277.36 490.25 Td (2018, ) Tj ET Q q 0 0 0 rg BT 303.04 490.25 Td (and ) Tj ET Q q 0 0 0 rg BT 320.67 490.25 Td (we ) Tj ET Q q 0 0 0 rg BT 335.51 490.25 Td (gave ) Tj ET Q q 0 0 0 rg BT 357.57 490.25 Td (back ) Tj ET Q q 0 0 0 rg BT 379.63 490.25 Td (nearly ) Tj ET Q q 0 0 0 rg BT 407.80 490.25 Td (600 ) Tj ET Q q 0 0 0 rg BT 425.98 490.25 Td (basis ) Tj ET Q q 0 0 0 rg BT 449.17 490.25 Td (points ) Tj ET Q q 0 0 0 rg BT 476.80 490.25 Td (of ) Tj ET Q q 0 0 0 rg BT 488.31 490.25 Td (NA) Tj ET Q q 0 0 0 rg BT 501.47 490.25 Td (V) Tj ET Q q 0 0 0 rg BT 508.51 490.25 Td ( ) Tj ET Q q 0 0 0 rg BT 511.69 490.25 Td (in ) Tj ET Q q 0 0 0 rg BT 522.65 490.25 Td (the ) Tj ET Q q 0 0 0 rg BT 538.05 490.25 Td (fourth ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 478.25 Td (quarter) Tj ET Q q 0 0 0 rg BT 77.26 478.25 Td (. ) Tj ET Q q 0 0 0 rg BT 82.10 478.25 Td ( ) Tj ET Q q 0 0 0 rg BT 84.43 478.25 Td (Interest ) Tj ET Q q 0 0 0 rg BT 116.75 478.25 Td (rate ) Tj ET Q q 0 0 0 rg BT 134.07 478.25 Td (fears, ) Tj ET Q q 0 0 0 rg BT 158.33 478.25 Td (global ) Tj ET Q q 0 0 0 rg BT 185.66 478.25 Td (trade ) Tj ET Q q 0 0 0 rg BT 207.97 478.25 Td (tensions ) Tj ET Q q 0 0 0 rg BT 243.09 478.25 Td (between ) Tj ET Q q 0 0 0 rg BT 278.73 478.25 Td (the ) Tj ET Q q 0 0 0 rg BT 293.28 478.25 Td (United ) Tj ET Q q 0 0 0 rg BT 322.83 478.25 Td (States ) Tj ET Q q 0 0 0 rg BT 349.05 478.25 Td (and ) Tj ET Q q 0 0 0 rg BT 365.83 478.25 Td (China, ) Tj ET Q q 0 0 0 rg BT 394.54 478.25 Td (and ) Tj ET Q q 0 0 0 rg BT 411.32 478.25 Td (slowing ) Tj ET Q q 0 0 0 rg BT 445.32 478.25 Td (global ) Tj ET Q q 0 0 0 rg BT 472.65 478.25 Td (growth ) Tj ET Q q 0 0 0 rg BT 503.31 478.25 Td (led ) Tj ET Q q 0 0 0 rg BT 517.86 478.25 Td (to ) Tj ET Q q 0 0 0 rg BT 527.97 478.25 Td (a ) Tj ET Q q 0 0 0 rg BT 534.74 478.25 Td (market ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 466.25 Td (sell-of) Tj ET Q q 0 0 0 rg BT 74.87 466.25 Td (f ) Tj ET Q q 0 0 0 rg BT 81.03 466.25 Td (in ) Tj ET Q q 0 0 0 rg BT 91.64 466.25 Td (the ) Tj ET Q q 0 0 0 rg BT 106.68 466.25 Td (fourth ) Tj ET Q q 0 0 0 rg BT 133.95 466.25 Td (quarter) Tj ET Q q 0 0 0 rg BT 161.72 466.25 Td (. ) Tj ET Q q 0 0 0 rg BT 166.84 466.25 Td (The ) Tj ET Q q 0 0 0 rg BT 185.22 466.25 Td (S&P) Tj ET Q q 0 0 0 rg BT 203.75 466.25 Td ( ) Tj ET Q q 0 0 0 rg BT 206.58 466.25 Td (500 ) Tj ET Q q 0 0 0 rg BT 224.41 466.25 Td (was ) Tj ET Q q 0 0 0 rg BT 242.80 466.25 Td (down ) Tj ET Q q 0 0 0 rg BT 267.85 466.25 Td (13.5% ) Tj ET Q q 0 0 0 rg BT 296.51 466.25 Td (in ) Tj ET Q q 0 0 0 rg BT 307.12 466.25 Td (the ) Tj ET Q q 0 0 0 rg BT 322.17 466.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 353.31 466.25 Td (and ) Tj ET Q q 0 0 0 rg BT 370.58 466.25 Td (the ) Tj ET Q q 0 0 0 rg BT 385.63 466.25 Td (Russell ) Tj ET Q q 0 0 0 rg BT 417.91 466.25 Td (Microcap ) Tj ET Q q 0 0 0 rg BT 459.06 466.25 Td (Index ) Tj ET Q q 0 0 0 rg BT 484.66 466.25 Td (declined ) Tj ET Q q 0 0 0 rg BT 521.36 466.25 Td (by ) Tj ET Q q 0 0 0 rg BT 534.19 466.25 Td (22.2%. ) Tj ET Q q 0 0 0 rg BT 565.02 466.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 454.25 Td (For ) Tj ET Q q 0 0 0 rg BT 65.90 454.25 Td (the ) Tj ET Q q 0 0 0 rg BT 80.63 454.25 Td (first ) Tj ET Q q 0 0 0 rg BT 99.25 454.25 Td (time ) Tj ET Q q 0 0 0 rg BT 119.53 454.25 Td (ever) Tj ET Q q 0 0 0 rg BT 136.34 454.25 Td (, ) Tj ET Q q 0 0 0 rg BT 141.35 454.25 Td (the ) Tj ET Q q 0 0 0 rg BT 156.07 454.25 Td (S&P) Tj ET Q q 0 0 0 rg BT 174.60 454.25 Td ( ) Tj ET Q q 0 0 0 rg BT 177.11 454.25 Td (500 ) Tj ET Q q 0 0 0 rg BT 194.62 454.25 Td (ended ) Tj ET Q q 0 0 0 rg BT 221.01 454.25 Td (the ) Tj ET Q q 0 0 0 rg BT 235.74 454.25 Td (year ) Tj ET Q q 0 0 0 rg BT 255.45 454.25 Td (with ) Tj ET Q q 0 0 0 rg BT 275.74 454.25 Td (a ) Tj ET Q q 0 0 0 rg BT 282.69 454.25 Td (loss ) Tj ET Q q 0 0 0 rg BT 300.76 454.25 Td (after ) Tj ET Q q 0 0 0 rg BT 321.58 454.25 Td (being ) Tj ET Q q 0 0 0 rg BT 346.31 454.25 Td (positive ) Tj ET Q q 0 0 0 rg BT 380.49 454.25 Td (for ) Tj ET Q q 0 0 0 rg BT 394.66 454.25 Td (the ) Tj ET Q q 0 0 0 rg BT 409.38 454.25 Td (first ) Tj ET Q q 0 0 0 rg BT 428.00 454.25 Td (three ) Tj ET Q q 0 0 0 rg BT 450.50 454.25 Td (quarters. ) Tj ET Q q 0 0 0 rg BT 487.53 454.25 Td (The ) Tj ET Q q 0 0 0 rg BT 505.59 454.25 Td (December ) Tj ET Q q 0 0 0 rg BT 549.18 454.25 Td (9% ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 442.25 Td (decline ) Tj ET Q q 0 0 0 rg BT 80.82 442.25 Td (in ) Tj ET Q q 0 0 0 rg BT 91.04 442.25 Td (the ) Tj ET Q q 0 0 0 rg BT 105.70 442.25 Td (S&P) Tj ET Q q 0 0 0 rg BT 124.23 442.25 Td ( ) Tj ET Q q 0 0 0 rg BT 126.67 442.25 Td (500 ) Tj ET Q q 0 0 0 rg BT 144.12 442.25 Td (was ) Tj ET Q q 0 0 0 rg BT 162.11 442.25 Td (the ) Tj ET Q q 0 0 0 rg BT 176.77 442.25 Td (second ) Tj ET Q q 0 0 0 rg BT 206.99 442.25 Td (worst ) Tj ET Q q 0 0 0 rg BT 231.65 442.25 Td (December ) Tj ET Q q 0 0 0 rg BT 275.18 442.25 Td (ever ) Tj ET Q q 0 0 0 rg BT 294.83 442.25 Td (and ) Tj ET Q q 0 0 0 rg BT 311.71 442.25 Td (the ) Tj ET Q q 0 0 0 rg BT 326.37 442.25 Td (worst ) Tj ET Q q 0 0 0 rg BT 351.04 442.25 Td (since ) Tj ET Q q 0 0 0 rg BT 374.03 442.25 Td (1931, ) Tj ET Q q 0 0 0 rg BT 398.97 442.25 Td (during ) Tj ET Q q 0 0 0 rg BT 427.52 442.25 Td (the ) Tj ET Q q 0 0 0 rg BT 442.19 442.25 Td (Great ) Tj ET Q q 0 0 0 rg BT 466.84 442.25 Td (Depression. ) Tj ET Q q 0 0 0 rg BT 516.77 442.25 Td ( ) Tj ET Q q 0 0 0 rg BT 518.67 442.25 Td (As ) Tj ET Q q 0 0 0 rg BT 532.23 442.25 Td (always, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 430.25 Td (selling ) Tj ET Q q 0 0 0 rg BT 78.08 430.25 Td (begets ) Tj ET Q q 0 0 0 rg BT 105.53 430.25 Td (selling ) Tj ET Q q 0 0 0 rg BT 134.11 430.25 Td (begets ) Tj ET Q q 0 0 0 rg BT 161.57 430.25 Td (selling. ) Tj ET Q q 0 0 0 rg BT 192.64 430.25 Td ( ) Tj ET Q q 0 0 0 rg BT 194.55 430.25 Td (In ) Tj ET Q q 0 0 0 rg BT 204.79 430.25 Td (the ) Tj ET Q q 0 0 0 rg BT 218.92 430.25 Td (fourth ) Tj ET Q q 0 0 0 rg BT 245.27 430.25 Td (quarter) Tj ET Q q 0 0 0 rg BT 273.19 430.25 Td (, ) Tj ET Q q 0 0 0 rg BT 277.60 430.25 Td (according ) Tj ET Q q 0 0 0 rg BT 318.93 430.25 Td (to ) Tj ET Q q 0 0 0 rg BT 328.62 430.25 Td (HFR ) Tj ET Q q 0 0 0 rg BT 349.98 430.25 Td (Global ) Tj ET Q q 0 0 0 rg BT 379.11 430.25 Td (Hedge ) Tj ET Q q 0 0 0 rg BT 407.12 430.25 Td (Fund ) Tj ET Q q 0 0 0 rg BT 429.59 430.25 Td (Report, ) Tj ET Q q 0 0 0 rg BT 461.22 430.25 Td (investors ) Tj ET Q q 0 0 0 rg BT 499.24 430.25 Td (redeemed ) Tj ET Q q 0 0 0 rg BT 540.01 430.25 Td ($22.5 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 418.25 Td (billion ) Tj ET Q q 0 0 0 rg BT 79.41 418.25 Td (from ) Tj ET Q q 0 0 0 rg BT 102.64 418.25 Td (hedge ) Tj ET Q q 0 0 0 rg BT 130.31 418.25 Td (funds, ) Tj ET Q q 0 0 0 rg BT 158.82 418.25 Td (while ) Tj ET Q q 0 0 0 rg BT 184.83 418.25 Td (Lipper ) Tj ET Q q 0 0 0 rg BT 215.28 418.25 Td (reported ) Tj ET Q q 0 0 0 rg BT 252.39 418.25 Td ($57 ) Tj ET Q q 0 0 0 rg BT 271.19 418.25 Td (billion ) Tj ET Q q 0 0 0 rg BT 301.09 418.25 Td (in ) Tj ET Q q 0 0 0 rg BT 312.66 418.25 Td (redemptions ) Tj ET Q q 0 0 0 rg BT 365.89 418.25 Td (from ) Tj ET Q q 0 0 0 rg BT 389.12 418.25 Td (equity ) Tj ET Q q 0 0 0 rg BT 417.91 418.25 Td (funds. ) Tj ET Q q 0 0 0 rg BT 446.43 418.25 Td ( ) Tj ET Q q 0 0 0 rg BT 449.95 418.25 Td (These ) Tj ET Q q 0 0 0 rg BT 477.62 418.25 Td (massive ) Tj ET Q q 0 0 0 rg BT 513.63 418.25 Td (withdrawals ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 406.25 Td (exacerbated ) Tj ET Q q 0 0 0 rg BT 99.99 406.25 Td (an ) Tj ET Q q 0 0 0 rg BT 112.19 406.25 Td (already ) Tj ET Q q 0 0 0 rg BT 144.36 406.25 Td (weakened ) Tj ET Q q 0 0 0 rg BT 187.09 406.25 Td (market. ) Tj ET Q q 0 0 0 rg BT 220.11 406.25 Td (In ) Tj ET Q q 0 0 0 rg BT 231.19 406.25 Td (fact, ) Tj ET Q q 0 0 0 rg BT 251.43 406.25 Td (despite ) Tj ET Q q 0 0 0 rg BT 282.51 406.25 Td (legitimate ) Tj ET Q q 0 0 0 rg BT 325.25 406.25 Td (macro ) Tj ET Q q 0 0 0 rg BT 352.99 406.25 Td (concerns, ) Tj ET Q q 0 0 0 rg BT 393.78 406.25 Td (the ) Tj ET Q q 0 0 0 rg BT 408.75 406.25 Td (biggest ) Tj ET Q q 0 0 0 rg BT 440.39 406.25 Td (surprise ) Tj ET Q q 0 0 0 rg BT 474.81 406.25 Td (to ) Tj ET Q q 0 0 0 rg BT 485.34 406.25 Td (market ) Tj ET Q q 0 0 0 rg BT 515.86 406.25 Td (participants ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 394.25 Td (was ) Tj ET Q q 0 0 0 rg BT 67.55 394.25 Td (the ) Tj ET Q q 0 0 0 rg BT 82.27 394.25 Td (timing ) Tj ET Q q 0 0 0 rg BT 110.88 394.25 Td (and ) Tj ET Q q 0 0 0 rg BT 127.82 394.25 Td (suddenness ) Tj ET Q q 0 0 0 rg BT 175.87 394.25 Td (in ) Tj ET Q q 0 0 0 rg BT 186.15 394.25 Td (what ) Tj ET Q q 0 0 0 rg BT 208.09 394.25 Td (is ) Tj ET Q q 0 0 0 rg BT 217.26 394.25 Td (usually ) Tj ET Q q 0 0 0 rg BT 248.65 394.25 Td (the ) Tj ET Q q 0 0 0 rg BT 263.36 394.25 Td (strongest ) Tj ET Q q 0 0 0 rg BT 301.97 394.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 332.79 394.25 Td (of ) Tj ET Q q 0 0 0 rg BT 343.62 394.25 Td (the ) Tj ET Q q 0 0 0 rg BT 358.33 394.25 Td (year) Tj ET Q q 0 0 0 rg BT 374.99 394.25 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 370.25 Td (T) Tj ET Q q 0 0 0 rg BT 54.91 370.25 Td (o ) Tj ET Q q 0 0 0 rg BT 62.09 370.25 Td (be ) Tj ET Q q 0 0 0 rg BT 73.71 370.25 Td (clear) Tj ET Q q 0 0 0 rg BT 92.73 370.25 Td (, ) Tj ET Q q 0 0 0 rg BT 97.41 370.25 Td (we ) Tj ET Q q 0 0 0 rg BT 111.25 370.25 Td (believe ) Tj ET Q q 0 0 0 rg BT 142.30 370.25 Td (there ) Tj ET Q q 0 0 0 rg BT 164.46 370.25 Td (are ) Tj ET Q q 0 0 0 rg BT 178.85 370.25 Td (real ) Tj ET Q q 0 0 0 rg BT 196.02 370.25 Td (concerns ) Tj ET Q q 0 0 0 rg BT 233.73 370.25 Td (to ) Tj ET Q q 0 0 0 rg BT 243.69 370.25 Td (be ) Tj ET Q q 0 0 0 rg BT 255.31 370.25 Td (mindful ) Tj ET Q q 0 0 0 rg BT 289.15 370.25 Td (of; ) Tj ET Q q 0 0 0 rg BT 302.44 370.25 Td (the ) Tj ET Q q 0 0 0 rg BT 316.83 370.25 Td (most ) Tj ET Q q 0 0 0 rg BT 338.46 370.25 Td (worrisome ) Tj ET Q q 0 0 0 rg BT 383.41 370.25 Td (for ) Tj ET Q q 0 0 0 rg BT 397.25 370.25 Td (us ) Tj ET Q q 0 0 0 rg BT 408.32 370.25 Td (being ) Tj ET Q q 0 0 0 rg BT 432.72 370.25 Td (the ) Tj ET Q q 0 0 0 rg BT 447.11 370.25 Td (dislocation ) Tj ET Q q 0 0 0 rg BT 493.17 370.25 Td (of ) Tj ET Q q 0 0 0 rg BT 503.68 370.25 Td (the ) Tj ET Q q 0 0 0 rg BT 518.08 370.25 Td (technology ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 358.25 Td (supply ) Tj ET Q q 0 0 0 rg BT 78.65 358.25 Td (chain ) Tj ET Q q 0 0 0 rg BT 102.79 358.25 Td (resulting ) Tj ET Q q 0 0 0 rg BT 140.27 358.25 Td (primarily ) Tj ET Q q 0 0 0 rg BT 179.97 358.25 Td (from ) Tj ET Q q 0 0 0 rg BT 201.89 358.25 Td (the ) Tj ET Q q 0 0 0 rg BT 216.59 358.25 Td (continued ) Tj ET Q q 0 0 0 rg BT 258.51 358.25 Td (trade ) Tj ET Q q 0 0 0 rg BT 280.98 358.25 Td (war ) Tj ET Q q 0 0 0 rg BT 298.46 358.25 Td (with ) Tj ET Q q 0 0 0 rg BT 318.72 358.25 Td (China. ) Tj ET Q q 0 0 0 rg BT 347.59 358.25 Td (But ) Tj ET Q q 0 0 0 rg BT 364.52 358.25 Td (we ) Tj ET Q q 0 0 0 rg BT 378.67 358.25 Td (believe ) Tj ET Q q 0 0 0 rg BT 410.02 358.25 Td (the ) Tj ET Q q 0 0 0 rg BT 424.72 358.25 Td (market ) Tj ET Q q 0 0 0 rg BT 454.97 358.25 Td (overshot ) Tj ET Q q 0 0 0 rg BT 491.90 358.25 Td (the ) Tj ET Q q 0 0 0 rg BT 506.60 358.25 Td (concerns. ) Tj ET Q q 0 0 0 rg BT 547.12 358.25 Td ( ) Tj ET Q q 0 0 0 rg BT 549.42 358.25 Td (W) Tj ET Q q 0 0 0 rg BT 558.06 358.25 Td (e ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 346.25 Td (used ) Tj ET Q q 0 0 0 rg BT 69.72 346.25 Td (the ) Tj ET Q q 0 0 0 rg BT 83.83 346.25 Td (20% ) Tj ET Q q 0 0 0 rg BT 104.06 346.25 Td (correction ) Tj ET Q q 0 0 0 rg BT 146.48 346.25 Td (and ) Tj ET Q q 0 0 0 rg BT 162.82 346.25 Td (market ) Tj ET Q q 0 0 0 rg BT 192.47 346.25 Td (dislocation ) Tj ET Q q 0 0 0 rg BT 238.25 346.25 Td (to ) Tj ET Q q 0 0 0 rg BT 247.92 346.25 Td (add ) Tj ET Q q 0 0 0 rg BT 264.25 346.25 Td (to ) Tj ET Q q 0 0 0 rg BT 273.92 346.25 Td (both ) Tj ET Q q 0 0 0 rg BT 293.60 346.25 Td (current ) Tj ET Q q 0 0 0 rg BT 323.80 346.25 Td (and ) Tj ET Q q 0 0 0 rg BT 340.14 346.25 Td (new ) Tj ET Q q 0 0 0 rg BT 358.69 346.25 Td (names, ) Tj ET Q q 0 0 0 rg BT 388.63 346.25 Td (investing ) Tj ET Q q 0 0 0 rg BT 427.19 346.25 Td (approximately ) Tj ET Q q 0 0 0 rg BT 486.84 346.25 Td (27% ) Tj ET Q q 0 0 0 rg BT 507.07 346.25 Td (of ) Tj ET Q q 0 0 0 rg BT 517.29 346.25 Td (our ) Tj ET Q q 0 0 0 rg BT 532.51 346.25 Td (starting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 334.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 69.74 334.25 Td (in ) Tj ET Q q 0 0 0 rg BT 79.99 334.25 Td (the ) Tj ET Q q 0 0 0 rg BT 94.68 334.25 Td (quarter) Tj ET Q q 0 0 0 rg BT 122.44 334.25 Td (. ) Tj ET Q q 0 0 0 rg BT 127.41 334.25 Td ( ) Tj ET Q q 0 0 0 rg BT 129.34 334.25 Td (Additionally ) Tj ET Q q 0 0 0 rg BT 182.36 334.25 Td (important ) Tj ET Q q 0 0 0 rg BT 223.71 334.25 Td (for ) Tj ET Q q 0 0 0 rg BT 237.84 334.25 Td (our ) Tj ET Q q 0 0 0 rg BT 253.64 334.25 Td (success ) Tj ET Q q 0 0 0 rg BT 286.10 334.25 Td (in ) Tj ET Q q 0 0 0 rg BT 296.35 334.25 Td (2019, ) Tj ET Q q 0 0 0 rg BT 321.32 334.25 Td (is ) Tj ET Q q 0 0 0 rg BT 330.46 334.25 Td (that ) Tj ET Q q 0 0 0 rg BT 347.93 334.25 Td (in ) Tj ET Q q 0 0 0 rg BT 358.18 334.25 Td (order ) Tj ET Q q 0 0 0 rg BT 381.75 334.25 Td (to ) Tj ET Q q 0 0 0 rg BT 392.00 334.25 Td (make ) Tj ET Q q 0 0 0 rg BT 416.12 334.25 Td (money) Tj ET Q q 0 0 0 rg BT 442.69 334.25 Td (, ) Tj ET Q q 0 0 0 rg BT 447.66 334.25 Td (you ) Tj ET Q q 0 0 0 rg BT 465.13 334.25 Td (need ) Tj ET Q q 0 0 0 rg BT 486.48 334.25 Td (to ) Tj ET Q q 0 0 0 rg BT 496.73 334.25 Td (have ) Tj ET Q q 0 0 0 rg BT 518.08 334.25 Td (money) Tj ET Q q 0 0 0 rg BT 544.64 334.25 Td (. ) Tj ET Q q 0 0 0 rg BT 549.44 334.25 Td (W) Tj ET Q q 0 0 0 rg BT 558.07 334.25 Td (e ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 322.25 Td (started ) Tj ET Q q 0 0 0 rg BT 78.66 322.25 Td (2019 ) Tj ET Q q 0 0 0 rg BT 101.16 322.25 Td (with ) Tj ET Q q 0 0 0 rg BT 121.43 322.25 Td (more ) Tj ET Q q 0 0 0 rg BT 144.48 322.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 164.75 322.25 Td (and ) Tj ET Q q 0 0 0 rg BT 181.69 322.25 Td (public ) Tj ET Q q 0 0 0 rg BT 209.18 322.25 Td (holdings ) Tj ET Q q 0 0 0 rg BT 246.13 322.25 Td (than ) Tj ET Q q 0 0 0 rg BT 265.85 322.25 Td (we ) Tj ET Q q 0 0 0 rg BT 280.01 322.25 Td (had ) Tj ET Q q 0 0 0 rg BT 296.95 322.25 Td (starting ) Tj ET Q q 0 0 0 rg BT 329.44 322.25 Td (in ) Tj ET Q q 0 0 0 rg BT 339.72 322.25 Td (2018.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 298.25 Td (NET) Tj ET Q q 0 0 0 rg BT 69.88 298.25 Td ( ) Tj ET Q q 0 0 0 rg BT 71.83 298.25 Td (ASSET) Tj ET Q q 0 0 0 rg BT 103.33 298.25 Td ( ) Tj ET Q q 0 0 0 rg BT 105.65 298.25 Td (V) Tj ET Q q 0 0 0 rg BT 111.58 298.25 Td (ALUE ) Tj ET Q q 0 0 0 rg BT 141.87 298.25 Td (PER ) Tj ET Q q 0 0 0 rg BT 164.37 298.25 Td (SHARE) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 274.25 Td (Our ) Tj ET Q q 0 0 0 rg BT 67.84 274.25 Td (NA) Tj ET Q q 0 0 0 rg BT 81.00 274.25 Td (V) Tj ET Q q 0 0 0 rg BT 88.04 274.25 Td ( ) Tj ET Q q 0 0 0 rg BT 90.83 274.25 Td (decreased ) Tj ET Q q 0 0 0 rg BT 133.03 274.25 Td (this ) Tj ET Q q 0 0 0 rg BT 150.27 274.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 181.38 274.25 Td (from ) Tj ET Q q 0 0 0 rg BT 203.61 274.25 Td ($2.81 ) Tj ET Q q 0 0 0 rg BT 228.90 274.25 Td (to ) Tj ET Q q 0 0 0 rg BT 239.47 274.25 Td ($2.64, ) Tj ET Q q 0 0 0 rg BT 267.26 274.25 Td (a ) Tj ET Q q 0 0 0 rg BT 274.49 274.25 Td (6.0% ) Tj ET Q q 0 0 0 rg BT 298.11 274.25 Td (decrease. ) Tj ET Q q 0 0 0 rg BT 337.81 274.25 Td ( ) Tj ET Q q 0 0 0 rg BT 340.40 274.25 Td (W) Tj ET Q q 0 0 0 rg BT 349.44 274.25 Td (ith ) Tj ET Q q 0 0 0 rg BT 362.78 274.25 Td (this ) Tj ET Q q 0 0 0 rg BT 380.02 274.25 Td (decrease ) Tj ET Q q 0 0 0 rg BT 417.23 274.25 Td (in ) Tj ET Q q 0 0 0 rg BT 427.80 274.25 Td (NA) Tj ET Q q 0 0 0 rg BT 440.95 274.25 Td (V) Tj ET Q q 0 0 0 rg BT 446.88 274.25 Td (, ) Tj ET Q q 0 0 0 rg BT 452.17 274.25 Td (our ) Tj ET Q q 0 0 0 rg BT 468.29 274.25 Td (year) Tj ET Q q 0 0 0 rg BT 485.30 274.25 Td (-to-date ) Tj ET Q q 0 0 0 rg BT 519.19 274.25 Td (increase ) Tj ET Q q 0 0 0 rg BT 554.73 274.25 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 262.25 Td (NA) Tj ET Q q 0 0 0 rg BT 62.65 262.25 Td (V) Tj ET Q q 0 0 0 rg BT 69.70 262.25 Td ( ) Tj ET Q q 0 0 0 rg BT 71.79 262.25 Td (stands ) Tj ET Q q 0 0 0 rg BT 98.88 262.25 Td (at ) Tj ET Q q 0 0 0 rg BT 108.20 262.25 Td (1.5% ) Tj ET Q q 0 0 0 rg BT 131.12 262.25 Td (or ) Tj ET Q q 0 0 0 rg BT 141.55 262.25 Td ($0.04 ) Tj ET Q q 0 0 0 rg BT 166.14 262.25 Td (per ) Tj ET Q q 0 0 0 rg BT 181.00 262.25 Td (share. ) Tj ET Q q 0 0 0 rg BT 206.70 262.25 Td (Our ) Tj ET Q q 0 0 0 rg BT 224.34 262.25 Td (Fund ) Tj ET Q q 0 0 0 rg BT 247.00 262.25 Td (has ) Tj ET Q q 0 0 0 rg BT 262.42 262.25 Td (three ) Tj ET Q q 0 0 0 rg BT 284.50 262.25 Td (principal ) Tj ET Q q 0 0 0 rg BT 322.14 262.25 Td (components ) Tj ET Q q 0 0 0 rg BT 372.56 262.25 Td (to ) Tj ET Q q 0 0 0 rg BT 382.43 262.25 Td (the ) Tj ET Q q 0 0 0 rg BT 396.75 262.25 Td (variance ) Tj ET Q q 0 0 0 rg BT 432.70 262.25 Td (in ) Tj ET Q q 0 0 0 rg BT 442.58 262.25 Td (our ) Tj ET Q q 0 0 0 rg BT 458.00 262.25 Td (NA) Tj ET Q q 0 0 0 rg BT 471.16 262.25 Td (V) Tj ET Q q 0 0 0 rg BT 477.63 262.25 Td (: ) Tj ET Q q 0 0 0 rg BT 482.51 262.25 Td (our ) Tj ET Q q 0 0 0 rg BT 497.93 262.25 Td (public ) Tj ET Q q 0 0 0 rg BT 525.02 262.25 Td (portfolio, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 250.25 Td (our ) Tj ET Q q 0 0 0 rg BT 65.94 250.25 Td (private ) Tj ET Q q 0 0 0 rg BT 96.82 250.25 Td (portfolio, ) Tj ET Q q 0 0 0 rg BT 137.42 250.25 Td (and ) Tj ET Q q 0 0 0 rg BT 154.97 250.25 Td (our ) Tj ET Q q 0 0 0 rg BT 171.42 250.25 Td (expenses. ) Tj ET Q q 0 0 0 rg BT 213.13 250.25 Td ( ) Tj ET Q q 0 0 0 rg BT 216.24 250.25 Td (For ) Tj ET Q q 0 0 0 rg BT 233.24 250.25 Td (the ) Tj ET Q q 0 0 0 rg BT 248.57 250.25 Td (quarter) Tj ET Q q 0 0 0 rg BT 276.49 250.25 Td (, ) Tj ET Q q 0 0 0 rg BT 282.10 250.25 Td (our ) Tj ET Q q 0 0 0 rg BT 298.54 250.25 Td (public ) Tj ET Q q 0 0 0 rg BT 326.65 250.25 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 364.75 250.25 Td (companies ) Tj ET Q q 0 0 0 rg BT 410.63 250.25 Td (reduced ) Tj ET Q q 0 0 0 rg BT 445.39 250.25 Td (our ) Tj ET Q q 0 0 0 rg BT 461.83 250.25 Td (NA) Tj ET Q q 0 0 0 rg BT 474.98 250.25 Td (V) Tj ET Q q 0 0 0 rg BT 482.02 250.25 Td ( ) Tj ET Q q 0 0 0 rg BT 485.14 250.25 Td (by ) Tj ET Q q 0 0 0 rg BT 498.25 250.25 Td ($0.16 ) Tj ET Q q 0 0 0 rg BT 523.86 250.25 Td (while ) Tj ET Q q 0 0 0 rg BT 549.19 250.25 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 238.25 Td (private ) Tj ET Q q 0 0 0 rg BT 80.70 238.25 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 119.12 238.25 Td (companies ) Tj ET Q q 0 0 0 rg BT 165.32 238.25 Td (subtracted ) Tj ET Q q 0 0 0 rg BT 209.85 238.25 Td ($0.01. ) Tj ET Q q 0 0 0 rg BT 238.28 238.25 Td (Operating ) Tj ET Q q 0 0 0 rg BT 281.70 238.25 Td (expenses, ) Tj ET Q q 0 0 0 rg BT 323.73 238.25 Td (exclusive ) Tj ET Q q 0 0 0 rg BT 364.92 238.25 Td (of ) Tj ET Q q 0 0 0 rg BT 376.69 238.25 Td (bonus ) Tj ET Q q 0 0 0 rg BT 404.01 238.25 Td (accruals ) Tj ET Q q 0 0 0 rg BT 440.20 238.25 Td (and ) Tj ET Q q 0 0 0 rg BT 458.07 238.25 Td (net ) Tj ET Q q 0 0 0 rg BT 473.72 238.25 Td (of ) Tj ET Q q 0 0 0 rg BT 485.48 238.25 Td (income, ) Tj ET Q q 0 0 0 rg BT 520.85 238.25 Td (negatively ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 226.25 Td (impacted ) Tj ET Q q 0 0 0 rg BT 88.30 226.25 Td (NA) Tj ET Q q 0 0 0 rg BT 101.45 226.25 Td (V) Tj ET Q q 0 0 0 rg BT 108.49 226.25 Td ( ) Tj ET Q q 0 0 0 rg BT 110.64 226.25 Td (by ) Tj ET Q q 0 0 0 rg BT 122.79 226.25 Td ($0.02. ) Tj ET Q q 0 0 0 rg BT 149.94 226.25 Td ( ) Tj ET Q q 0 0 0 rg BT 151.93 226.25 Td (W) Tj ET Q q 0 0 0 rg BT 160.57 226.25 Td (e ) Tj ET Q q 0 0 0 rg BT 167.15 226.25 Td (had ) Tj ET Q q 0 0 0 rg BT 183.74 226.25 Td (a ) Tj ET Q q 0 0 0 rg BT 190.32 226.25 Td ($0.02 ) Tj ET Q q 0 0 0 rg BT 214.97 226.25 Td (gain ) Tj ET Q q 0 0 0 rg BT 234.33 226.25 Td (from ) Tj ET Q q 0 0 0 rg BT 255.92 226.25 Td (a ) Tj ET Q q 0 0 0 rg BT 262.51 226.25 Td (reversal ) Tj ET Q q 0 0 0 rg BT 296.30 226.25 Td (of ) Tj ET Q q 0 0 0 rg BT 306.78 226.25 Td (an ) Tj ET Q q 0 0 0 rg BT 318.36 226.25 Td (accrual ) Tj ET Q q 0 0 0 rg BT 349.37 226.25 Td (we ) Tj ET Q q 0 0 0 rg BT 363.18 226.25 Td (established ) Tj ET Q q 0 0 0 rg BT 409.76 226.25 Td (earlier ) Tj ET Q q 0 0 0 rg BT 437.44 226.25 Td (in ) Tj ET Q q 0 0 0 rg BT 447.37 226.25 Td (the ) Tj ET Q q 0 0 0 rg BT 461.73 226.25 Td (year ) Tj ET Q q 0 0 0 rg BT 481.09 226.25 Td (for ) Tj ET Q q 0 0 0 rg BT 494.89 226.25 Td (a ) Tj ET Q q 0 0 0 rg BT 501.48 226.25 Td (potential ) Tj ET Q q 0 0 0 rg BT 538.62 226.25 Td (bonus ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 214.25 Td (pool ) Tj ET Q q 0 0 0 rg BT 69.21 214.25 Td (in ) Tj ET Q q 0 0 0 rg BT 78.93 214.25 Td (2018. ) Tj ET Q q 0 0 0 rg BT 103.36 214.25 Td (Remember ) Tj ET Q q 0 0 0 rg BT 149.17 214.25 Td (what ) Tj ET Q q 0 0 0 rg BT 170.54 214.25 Td (we ) Tj ET Q q 0 0 0 rg BT 184.14 214.25 Td (have ) Tj ET Q q 0 0 0 rg BT 204.95 214.25 Td (said ) Tj ET Q q 0 0 0 rg BT 222.99 214.25 Td (in ) Tj ET Q q 0 0 0 rg BT 232.71 214.25 Td (the ) Tj ET Q q 0 0 0 rg BT 246.86 214.25 Td (past ) Tj ET Q q 0 0 0 rg BT 264.90 214.25 Td (about ) Tj ET Q q 0 0 0 rg BT 289.05 214.25 Td (compensation; ) Tj ET Q q 0 0 0 rg BT 349.31 214.25 Td (if ) Tj ET Q q 0 0 0 rg BT 357.35 214.25 Td (our ) Tj ET Q q 0 0 0 rg BT 372.62 214.25 Td (shareholders ) Tj ET Q q 0 0 0 rg BT 425.09 214.25 Td (benefit ) Tj ET Q q 0 0 0 rg BT 454.79 214.25 Td (from ) Tj ET Q q 0 0 0 rg BT 476.16 214.25 Td (achieving ) Tj ET Q q 0 0 0 rg BT 516.97 214.25 Td (meaningful ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 202.25 Td (NA) Tj ET Q q 0 0 0 rg BT 62.65 202.25 Td (V) Tj ET Q q 0 0 0 rg BT 69.70 202.25 Td ( ) Tj ET Q q 0 0 0 rg BT 72.10 202.25 Td (growth, ) Tj ET Q q 0 0 0 rg BT 105.33 202.25 Td (our ) Tj ET Q q 0 0 0 rg BT 121.06 202.25 Td (management ) Tj ET Q q 0 0 0 rg BT 174.54 202.25 Td (team ) Tj ET Q q 0 0 0 rg BT 196.38 202.25 Td (will ) Tj ET Q q 0 0 0 rg BT 214.33 202.25 Td (share ) Tj ET Q q 0 0 0 rg BT 237.83 202.25 Td (in ) Tj ET Q q 0 0 0 rg BT 248.01 202.25 Td (that ) Tj ET Q q 0 0 0 rg BT 265.41 202.25 Td (reward, ) Tj ET Q q 0 0 0 rg BT 298.06 202.25 Td (and ) Tj ET Q q 0 0 0 rg BT 314.90 202.25 Td (if ) Tj ET Q q 0 0 0 rg BT 323.41 202.25 Td (not, ) Tj ET Q q 0 0 0 rg BT 341.09 202.25 Td (there ) Tj ET Q q 0 0 0 rg BT 363.47 202.25 Td (will ) Tj ET Q q 0 0 0 rg BT 381.43 202.25 Td (be ) Tj ET Q q 0 0 0 rg BT 393.27 202.25 Td (no ) Tj ET Q q 0 0 0 rg BT 405.67 202.25 Td (bonus ) Tj ET Q q 0 0 0 rg BT 431.96 202.25 Td (for ) Tj ET Q q 0 0 0 rg BT 446.02 202.25 Td (our ) Tj ET Q q 0 0 0 rg BT 461.75 202.25 Td (management ) Tj ET Q q 0 0 0 rg BT 515.24 202.25 Td (team. ) Tj ET Q q 0 0 0 rg BT 539.57 202.25 Td (In ) Tj ET Q q 0 0 0 rg BT 550.30 202.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 190.25 Td (prior ) Tj ET Q q 0 0 0 rg BT 70.33 190.25 Td (two ) Tj ET Q q 0 0 0 rg BT 86.72 190.25 Td (quarters, ) Tj ET Q q 0 0 0 rg BT 122.82 190.25 Td (we ) Tj ET Q q 0 0 0 rg BT 135.88 190.25 Td (began ) Tj ET Q q 0 0 0 rg BT 161.15 190.25 Td (to ) Tj ET Q q 0 0 0 rg BT 170.32 190.25 Td (accrue ) Tj ET Q q 0 0 0 rg BT 197.80 190.25 Td (for ) Tj ET Q q 0 0 0 rg BT 210.85 190.25 Td (a ) Tj ET Q q 0 0 0 rg BT 216.68 190.25 Td (potential ) Tj ET Q q 0 0 0 rg BT 253.06 190.25 Td (bonus ) Tj ET Q q 0 0 0 rg BT 278.35 190.25 Td (pool ) Tj ET Q q 0 0 0 rg BT 297.52 190.25 Td (based ) Tj ET Q q 0 0 0 rg BT 321.68 190.25 Td (on ) Tj ET Q q 0 0 0 rg BT 333.08 190.25 Td (multiple ) Tj ET Q q 0 0 0 rg BT 367.80 190.25 Td (metrics ) Tj ET Q q 0 0 0 rg BT 398.63 190.25 Td (assessed ) Tj ET Q q 0 0 0 rg BT 433.90 190.25 Td (by ) Tj ET Q q 0 0 0 rg BT 445.29 190.25 Td (the ) Tj ET Q q 0 0 0 rg BT 458.90 190.25 Td (Compensation ) Tj ET Q q 0 0 0 rg BT 518.07 190.25 Td (Committee ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 178.25 Td (of ) Tj ET Q q 0 0 0 rg BT 60.14 178.25 Td (our ) Tj ET Q q 0 0 0 rg BT 75.79 178.25 Td (Board, ) Tj ET Q q 0 0 0 rg BT 105.04 178.25 Td (including ) Tj ET Q q 0 0 0 rg BT 145.13 178.25 Td (the ) Tj ET Q q 0 0 0 rg BT 159.66 178.25 Td (strength ) Tj ET Q q 0 0 0 rg BT 194.19 178.25 Td (in ) Tj ET Q q 0 0 0 rg BT 204.28 178.25 Td (our ) Tj ET Q q 0 0 0 rg BT 219.92 178.25 Td (NA) Tj ET Q q 0 0 0 rg BT 233.08 178.25 Td (V) Tj ET Q q 0 0 0 rg BT 240.12 178.25 Td ( ) Tj ET Q q 0 0 0 rg BT 242.43 178.25 Td (growth ) Tj ET Q q 0 0 0 rg BT 273.07 178.25 Td (for ) Tj ET Q q 0 0 0 rg BT 287.05 178.25 Td (the ) Tj ET Q q 0 0 0 rg BT 301.58 178.25 Td (first ) Tj ET Q q 0 0 0 rg BT 320.00 178.25 Td (three ) Tj ET Q q 0 0 0 rg BT 342.30 178.25 Td (quarters. ) Tj ET Q q 0 0 0 rg BT 379.32 178.25 Td ( ) Tj ET Q q 0 0 0 rg BT 381.47 178.25 Td (W) Tj ET Q q 0 0 0 rg BT 390.50 178.25 Td (ith ) Tj ET Q q 0 0 0 rg BT 403.37 178.25 Td (most ) Tj ET Q q 0 0 0 rg BT 425.14 178.25 Td (of ) Tj ET Q q 0 0 0 rg BT 435.78 178.25 Td (the ) Tj ET Q q 0 0 0 rg BT 450.31 178.25 Td (2018 ) Tj ET Q q 0 0 0 rg BT 472.62 178.25 Td (gains ) Tj ET Q q 0 0 0 rg BT 496.04 178.25 Td (in ) Tj ET Q q 0 0 0 rg BT 506.14 178.25 Td (NA) Tj ET Q q 0 0 0 rg BT 519.29 178.25 Td (V) Tj ET Q q 0 0 0 rg BT 526.33 178.25 Td ( ) Tj ET Q q 0 0 0 rg BT 528.65 178.25 Td (reversed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 166.25 Td (in ) Tj ET Q q 0 0 0 rg BT 59.04 166.25 Td (Q4, ) Tj ET Q q 0 0 0 rg BT 75.53 166.25 Td (we ) Tj ET Q q 0 0 0 rg BT 88.95 166.25 Td (recommended, ) Tj ET Q q 0 0 0 rg BT 149.86 166.25 Td (and ) Tj ET Q q 0 0 0 rg BT 166.06 166.25 Td (the ) Tj ET Q q 0 0 0 rg BT 180.04 166.25 Td (Compensation ) Tj ET Q q 0 0 0 rg BT 239.58 166.25 Td (Committee ) Tj ET Q q 0 0 0 rg BT 285.78 166.25 Td (agreed, ) Tj ET Q q 0 0 0 rg BT 316.69 166.25 Td (that ) Tj ET Q q 0 0 0 rg BT 333.45 166.25 Td (there ) Tj ET Q q 0 0 0 rg BT 355.20 166.25 Td (will ) Tj ET Q q 0 0 0 rg BT 372.52 166.25 Td (be ) Tj ET Q q 0 0 0 rg BT 383.72 166.25 Td (no ) Tj ET Q q 0 0 0 rg BT 395.49 166.25 Td (bonus ) Tj ET Q q 0 0 0 rg BT 421.14 166.25 Td (pool ) Tj ET Q q 0 0 0 rg BT 440.69 166.25 Td (for ) Tj ET Q q 0 0 0 rg BT 454.11 166.25 Td (2018. ) Tj ET Q q 0 0 0 rg BT 478.37 166.25 Td ( ) Tj ET Q q 0 0 0 rg BT 479.75 166.25 Td (As ) Tj ET Q q 0 0 0 rg BT 492.63 166.25 Td (such, ) Tj ET Q q 0 0 0 rg BT 515.22 166.25 Td (we ) Tj ET Q q 0 0 0 rg BT 528.64 166.25 Td (reversed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 154.25 Td (the ) Tj ET Q q 0 0 0 rg BT 64.22 154.25 Td (accrual. ) Tj ET Q q 0 0 0 rg BT 98.08 154.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 130.25 Td (______________________) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 49.50 123.53 Td (1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.42 119.45 Td ( ) Tj ET Q q 0 0 0 rg BT 54.40 119.45 Td (Past ) Tj ET Q q 0 0 0 rg BT 71.37 119.45 Td (performance ) Tj ET Q q 0 0 0 rg BT 118.82 119.45 Td (is ) Tj ET Q q 0 0 0 rg BT 126.79 119.45 Td (not ) Tj ET Q q 0 0 0 rg BT 140.27 119.45 Td (an ) Tj ET Q q 0 0 0 rg BT 150.73 119.45 Td (indication ) Tj ET Q q 0 0 0 rg BT 188.70 119.45 Td (or ) Tj ET Q q 0 0 0 rg BT 198.17 119.45 Td (guarantee ) Tj ET Q q 0 0 0 rg BT 235.12 119.45 Td (of ) Tj ET Q q 0 0 0 rg BT 244.59 119.45 Td (future ) Tj ET Q q 0 0 0 rg BT 268.05 119.45 Td (performance. ) Tj ET Q q 0 0 0 rg BT 317.74 119.45 Td ( ) Tj ET Q q 0 0 0 rg BT 319.28 119.45 Td (Amounts ) Tj ET Q q 0 0 0 rg BT 354.26 119.45 Td (gross ) Tj ET Q q 0 0 0 rg BT 375.23 119.45 Td (unrealized ) Tj ET Q q 0 0 0 rg BT 414.68 119.45 Td (and ) Tj ET Q q 0 0 0 rg BT 429.65 119.45 Td (realized ) Tj ET Q q 0 0 0 rg BT 460.10 119.45 Td (total ) Tj ET Q q 0 0 0 rg BT 478.07 119.45 Td (returns ) Tj ET Q q 0 0 0 rg BT 505.03 119.45 Td (compounded ) Tj ET Q q 0 0 0 rg BT 553.50 119.45 Td (on ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 49.50 108.65 Td (a ) Tj ET Q q 0 0 0 rg BT 55.79 108.65 Td (quarterly ) Tj ET Q q 0 0 0 rg BT 90.58 108.65 Td (basis. ) Tj ET Q q 0 0 0 rg BT 113.13 108.65 Td ( ) Tj ET Q q 0 0 0 rg BT 115.43 108.65 Td (180 ) Tj ET Q q 0 0 0 rg BT 131.23 108.65 Td (Degree ) Tj ET Q q 0 0 0 rg BT 159.51 108.65 Td (Capital ) Tj ET Q q 0 0 0 rg BT 187.80 108.65 Td (Corp. ) Tj ET Q q 0 0 0 rg BT 210.35 108.65 Td (is ) Tj ET Q q 0 0 0 rg BT 218.65 108.65 Td (an ) Tj ET Q q 0 0 0 rg BT 229.44 108.65 Td (internally ) Tj ET Q q 0 0 0 rg BT 266.23 108.65 Td (managed ) Tj ET Q q 0 0 0 rg BT 301.02 108.65 Td (registered ) Tj ET Q q 0 0 0 rg BT 338.80 108.65 Td (closed ) Tj ET Q q 0 0 0 rg BT 364.09 108.65 Td (end ) Tj ET Q q 0 0 0 rg BT 379.38 108.65 Td (fund ) Tj ET Q q 0 0 0 rg BT 398.18 108.65 Td (and ) Tj ET Q q 0 0 0 rg BT 413.47 108.65 Td (does ) Tj ET Q q 0 0 0 rg BT 432.27 108.65 Td (not ) Tj ET Q q 0 0 0 rg BT 446.07 108.65 Td (have ) Tj ET Q q 0 0 0 rg BT 465.36 108.65 Td (an ) Tj ET Q q 0 0 0 rg BT 476.15 108.65 Td (external ) Tj ET Q q 0 0 0 rg BT 507.43 108.65 Td (manager ) Tj ET Q q 0 0 0 rg BT 540.71 108.65 Td (that ) Tj ET Q q 0 0 0 rg BT 556.51 108.65 Td (is ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 49.50 97.85 Td (paid ) Tj ET Q q 0 0 0 rg BT 67.72 97.85 Td (fees ) Tj ET Q q 0 0 0 rg BT 84.93 97.85 Td (based ) Tj ET Q q 0 0 0 rg BT 108.15 97.85 Td (on ) Tj ET Q q 0 0 0 rg BT 119.87 97.85 Td (assets ) Tj ET Q q 0 0 0 rg BT 143.59 97.85 Td (and/or ) Tj ET Q q 0 0 0 rg BT 169.31 97.85 Td (returns. ) Tj ET Q q 0 0 0 rg BT 199.27 97.85 Td ( ) Tj ET Q q 0 0 0 rg BT 202.00 97.85 Td (180 ) Tj ET Q q 0 0 0 rg BT 218.22 97.85 Td (also ) Tj ET Q q 0 0 0 rg BT 235.44 97.85 Td (has ) Tj ET Q q 0 0 0 rg BT 250.16 97.85 Td (more ) Tj ET Q q 0 0 0 rg BT 271.38 97.85 Td (than ) Tj ET Q q 0 0 0 rg BT 289.60 97.85 Td (50 ) Tj ET Q q 0 0 0 rg BT 301.32 97.85 Td (percent ) Tj ET Q q 0 0 0 rg BT 330.52 97.85 Td (of ) Tj ET Q q 0 0 0 rg BT 340.75 97.85 Td (its ) Tj ET Q q 0 0 0 rg BT 351.97 97.85 Td (investment ) Tj ET Q q 0 0 0 rg BT 394.19 97.85 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 428.41 97.85 Td (in ) Tj ET Q q 0 0 0 rg BT 438.13 97.85 Td (legacy ) Tj ET Q q 0 0 0 rg BT 464.34 97.85 Td (privately ) Tj ET Q q 0 0 0 rg BT 499.05 97.85 Td (held ) Tj ET Q q 0 0 0 rg BT 517.27 97.85 Td (investments. ) Tj ET Q q 0 0 0 rg BT 564.77 97.85 Td ( ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 49.50 87.05 Td (Please ) Tj ET Q q 0 0 0 rg BT 74.73 87.05 Td (see ) Tj ET Q q 0 0 0 rg BT 88.47 87.05 Td (its ) Tj ET Q q 0 0 0 rg BT 99.21 87.05 Td (filings ) Tj ET Q q 0 0 0 rg BT 124.46 87.05 Td (with ) Tj ET Q q 0 0 0 rg BT 142.70 87.05 Td (the ) Tj ET Q q 0 0 0 rg BT 155.94 87.05 Td (SEC, ) Tj ET Q q 0 0 0 rg BT 176.94 87.05 Td (including ) Tj ET Q q 0 0 0 rg BT 213.17 87.05 Td (its ) Tj ET Q q 0 0 0 rg BT 223.92 87.05 Td (2018 ) Tj ET Q q 0 0 0 rg BT 243.67 87.05 Td (Annual ) Tj ET Q q 0 0 0 rg BT 272.40 87.05 Td (Report ) Tj ET Q q 0 0 0 rg BT 299.14 87.05 Td (filed ) Tj ET Q q 0 0 0 rg BT 317.88 87.05 Td (on ) Tj ET Q q 0 0 0 rg BT 329.12 87.05 Td (Form ) Tj ET Q q 0 0 0 rg BT 350.86 87.05 Td (N-CSR ) Tj ET Q q 0 0 0 rg BT 379.61 87.05 Td (for ) Tj ET Q q 0 0 0 rg BT 392.35 87.05 Td (information ) Tj ET Q q 0 0 0 rg BT 437.08 87.05 Td (on ) Tj ET Q q 0 0 0 rg BT 448.32 87.05 Td (its ) Tj ET Q q 0 0 0 rg BT 459.07 87.05 Td (expenses ) Tj ET Q q 0 0 0 rg BT 493.80 87.05 Td (and ) Tj ET Q q 0 0 0 rg BT 509.04 87.05 Td (expense ) Tj ET Q q 0 0 0 rg BT 540.27 87.05 Td (ratios.) Tj ET Q endstream endobj 5 0 obj <> endobj 6 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 24.60 Td (2) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 749.10 Td (Public ) Tj ET Q q 0 0 0 rg BT 78.10 749.10 Td (Portfolio) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 725.10 Td (Nearly ) Tj ET Q q 0 0 0 rg BT 79.32 725.10 Td (two ) Tj ET Q q 0 0 0 rg BT 96.93 725.10 Td (year ) Tj ET Q q 0 0 0 rg BT 116.76 725.10 Td (ago, ) Tj ET Q q 0 0 0 rg BT 136.31 725.10 Td (we ) Tj ET Q q 0 0 0 rg BT 150.58 725.10 Td (embarked ) Tj ET Q q 0 0 0 rg BT 192.62 725.10 Td (on ) Tj ET Q q 0 0 0 rg BT 205.23 725.10 Td (a ) Tj ET Q q 0 0 0 rg BT 212.29 725.10 Td (new ) Tj ET Q q 0 0 0 rg BT 231.56 725.10 Td (strategy ) Tj ET Q q 0 0 0 rg BT 265.83 725.10 Td (to ) Tj ET Q q 0 0 0 rg BT 276.22 725.10 Td (invest ) Tj ET Q q 0 0 0 rg BT 302.72 725.10 Td (in ) Tj ET Q q 0 0 0 rg BT 313.11 725.10 Td (small ) Tj ET Q q 0 0 0 rg BT 337.39 725.10 Td (public ) Tj ET Q q 0 0 0 rg BT 365.00 725.10 Td (companies. ) Tj ET Q q 0 0 0 rg BT 412.88 725.10 Td (Over ) Tj ET Q q 0 0 0 rg BT 435.48 725.10 Td (the ) Tj ET Q q 0 0 0 rg BT 450.31 725.10 Td (course ) Tj ET Q q 0 0 0 rg BT 479.02 725.10 Td (of ) Tj ET Q q 0 0 0 rg BT 489.97 725.10 Td (the ) Tj ET Q q 0 0 0 rg BT 504.80 725.10 Td (last ) Tj ET Q q 0 0 0 rg BT 521.30 725.10 Td (two ) Tj ET Q q 0 0 0 rg BT 538.91 725.10 Td (years, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 713.10 Td (we ) Tj ET Q q 0 0 0 rg BT 63.92 713.10 Td (have ) Tj ET Q q 0 0 0 rg BT 85.56 713.10 Td (added ) Tj ET Q q 0 0 0 rg BT 112.19 713.10 Td ($0.45 ) Tj ET Q q 0 0 0 rg BT 137.46 713.10 Td (of ) Tj ET Q q 0 0 0 rg BT 148.55 713.10 Td (NA) Tj ET Q q 0 0 0 rg BT 161.70 713.10 Td (V) Tj ET Q q 0 0 0 rg BT 168.74 713.10 Td ( ) Tj ET Q q 0 0 0 rg BT 171.50 713.10 Td (from ) Tj ET Q q 0 0 0 rg BT 193.70 713.10 Td (our ) Tj ET Q q 0 0 0 rg BT 209.79 713.10 Td (investments ) Tj ET Q q 0 0 0 rg BT 260.32 713.10 Td (in ) Tj ET Q q 0 0 0 rg BT 270.86 713.10 Td (public ) Tj ET Q q 0 0 0 rg BT 298.62 713.10 Td (companies. ) Tj ET Q q 0 0 0 rg BT 346.64 713.10 Td (Over ) Tj ET Q q 0 0 0 rg BT 369.39 713.10 Td (that ) Tj ET Q q 0 0 0 rg BT 387.15 713.10 Td (same ) Tj ET Q q 0 0 0 rg BT 410.45 713.10 Td (period ) Tj ET Q q 0 0 0 rg BT 438.76 713.10 Td (of ) Tj ET Q q 0 0 0 rg BT 449.85 713.10 Td (time, ) Tj ET Q q 0 0 0 rg BT 472.89 713.10 Td (we ) Tj ET Q q 0 0 0 rg BT 487.31 713.10 Td (generated ) Tj ET Q q 0 0 0 rg BT 528.93 713.10 Td ($0.08 ) Tj ET Q q 0 0 0 rg BT 554.19 713.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 701.10 Td (NA) Tj ET Q q 0 0 0 rg BT 62.65 701.10 Td (V) Tj ET Q q 0 0 0 rg BT 69.70 701.10 Td ( ) Tj ET Q q 0 0 0 rg BT 72.16 701.10 Td (growth ) Tj ET Q q 0 0 0 rg BT 102.95 701.10 Td (from ) Tj ET Q q 0 0 0 rg BT 124.85 701.10 Td (our ) Tj ET Q q 0 0 0 rg BT 140.64 701.10 Td (private ) Tj ET Q q 0 0 0 rg BT 170.86 701.10 Td (portfolio. ) Tj ET Q q 0 0 0 rg BT 210.82 701.10 Td (180) Tj ET Q q 0 0 0 rg BT 228.60 701.10 Td (s ) Tj ET Q q 0 0 0 rg BT 234.95 701.10 Td (shareholders ) Tj ET Q q 0 0 0 rg BT 287.95 701.10 Td (have ) Tj ET Q q 0 0 0 rg BT 309.29 701.10 Td (clearly ) Tj ET Q q 0 0 0 rg BT 338.95 701.10 Td (benefited ) Tj ET Q q 0 0 0 rg BT 378.61 701.10 Td (from ) Tj ET Q q 0 0 0 rg BT 400.51 701.10 Td (our ) Tj ET Q q 0 0 0 rg BT 416.30 701.10 Td (strategy ) Tj ET Q q 0 0 0 rg BT 450.42 701.10 Td (change. ) Tj ET Q q 0 0 0 rg BT 483.52 701.10 Td (That ) Tj ET Q q 0 0 0 rg BT 504.30 701.10 Td (said, ) Tj ET Q q 0 0 0 rg BT 525.37 701.10 Td (Q4 ) Tj ET Q q 0 0 0 rg BT 540.05 701.10 Td (saw ) Tj ET Q q 0 0 0 rg BT 558.07 701.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 689.10 Td (pullback ) Tj ET Q q 0 0 0 rg BT 86.43 689.10 Td (in ) Tj ET Q q 0 0 0 rg BT 96.71 689.10 Td (the ) Tj ET Q q 0 0 0 rg BT 111.43 689.10 Td (value ) Tj ET Q q 0 0 0 rg BT 135.58 689.10 Td (of ) Tj ET Q q 0 0 0 rg BT 146.41 689.10 Td (our ) Tj ET Q q 0 0 0 rg BT 162.24 689.10 Td (public ) Tj ET Q q 0 0 0 rg BT 189.74 689.10 Td (market ) Tj ET Q q 0 0 0 rg BT 220.00 689.10 Td (holdings. ) Tj ET Q q 0 0 0 rg BT 259.45 689.10 Td (Let) Tj ET Q q 0 0 0 rg BT 275.55 689.10 Td (s ) Tj ET Q q 0 0 0 rg BT 281.95 689.10 Td (dig ) Tj ET Q q 0 0 0 rg BT 297.22 689.10 Td (into ) Tj ET Q q 0 0 0 rg BT 315.28 689.10 Td (the ) Tj ET Q q 0 0 0 rg BT 330.00 689.10 Td (sources ) Tj ET Q q 0 0 0 rg BT 362.49 689.10 Td (of ) Tj ET Q q 0 0 0 rg BT 373.32 689.10 Td (this ) Tj ET Q q 0 0 0 rg BT 390.27 689.10 Td (pullback:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 665.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 665.10 Td (Adesto ) Tj ET Q q 0 0 0 rg BT 133.67 665.10 Td (T) Tj ET Q q 0 0 0 rg BT 139.08 665.10 Td (echnologies ) Tj ET Q q 0 0 0 rg BT 188.83 665.10 Td (Corporation ) Tj ET Q q 0 0 0 rg BT 239.14 665.10 Td (\(NASDAQ: ) Tj ET Q q 0 0 0 rg BT 288.91 665.10 Td (IOTS\) ) Tj ET Q q 0 0 0 rg BT 316.45 665.10 Td (had ) Tj ET Q q 0 0 0 rg BT 332.87 665.10 Td (been ) Tj ET Q q 0 0 0 rg BT 353.74 665.10 Td (on ) Tj ET Q q 0 0 0 rg BT 365.72 665.10 Td (an ) Tj ET Q q 0 0 0 rg BT 377.15 665.10 Td (uptrend ) Tj ET Q q 0 0 0 rg BT 409.68 665.10 Td (through ) Tj ET Q q 0 0 0 rg BT 442.77 665.10 Td (Q2 ) Tj ET Q q 0 0 0 rg BT 456.98 665.10 Td (2018. ) Tj ET Q q 0 0 0 rg BT 481.03 665.10 Td (As ) Tj ET Q q 0 0 0 rg BT 494.13 665.10 Td (the ) Tj ET Q q 0 0 0 rg BT 508.33 665.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 531.43 665.10 Td (reached ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 653.10 Td (a ) Tj ET Q q 0 0 0 rg BT 110.61 653.10 Td (price ) Tj ET Q q 0 0 0 rg BT 133.28 653.10 Td (that ) Tj ET Q q 0 0 0 rg BT 150.95 653.10 Td (we ) Tj ET Q q 0 0 0 rg BT 165.28 653.10 Td (believed ) Tj ET Q q 0 0 0 rg BT 201.83 653.10 Td (made ) Tj ET Q q 0 0 0 rg BT 226.16 653.10 Td (it ) Tj ET Q q 0 0 0 rg BT 234.39 653.10 Td (fully ) Tj ET Q q 0 0 0 rg BT 255.96 653.10 Td (valued, ) Tj ET Q q 0 0 0 rg BT 287.79 653.10 Td (we ) Tj ET Q q 0 0 0 rg BT 302.12 653.10 Td (sold ) Tj ET Q q 0 0 0 rg BT 321.47 653.10 Td (62% ) Tj ET Q q 0 0 0 rg BT 342.47 653.10 Td (of ) Tj ET Q q 0 0 0 rg BT 353.48 653.10 Td (our ) Tj ET Q q 0 0 0 rg BT 369.49 653.10 Td (position ) Tj ET Q q 0 0 0 rg BT 404.39 653.10 Td (during ) Tj ET Q q 0 0 0 rg BT 433.17 653.10 Td (Q2 ) Tj ET Q q 0 0 0 rg BT 448.07 653.10 Td (at ) Tj ET Q q 0 0 0 rg BT 457.96 653.10 Td (an ) Tj ET Q q 0 0 0 rg BT 470.08 653.10 Td (average ) Tj ET Q q 0 0 0 rg BT 503.84 653.10 Td (price ) Tj ET Q q 0 0 0 rg BT 526.50 653.10 Td (of ) Tj ET Q q 0 0 0 rg BT 537.50 653.10 Td ($8.81. ) Tj ET Q q 0 0 0 rg BT 565.00 653.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 641.10 Td (As ) Tj ET Q q 0 0 0 rg BT 117.08 641.10 Td (we ) Tj ET Q q 0 0 0 rg BT 131.21 641.10 Td (mentioned ) Tj ET Q q 0 0 0 rg BT 175.89 641.10 Td (in ) Tj ET Q q 0 0 0 rg BT 186.14 641.10 Td (last ) Tj ET Q q 0 0 0 rg BT 202.49 641.10 Td (quarter) Tj ET Q q 0 0 0 rg BT 231.18 641.10 Td () Tj ET Q q 0 0 0 rg BT 233.96 641.10 Td (s ) Tj ET Q q 0 0 0 rg BT 240.32 641.10 Td (letter) Tj ET Q q 0 0 0 rg BT 260.46 641.10 Td (, ) Tj ET Q q 0 0 0 rg BT 265.43 641.10 Td (the ) Tj ET Q q 0 0 0 rg BT 280.11 641.10 Td (company ) Tj ET Q q 0 0 0 rg BT 319.23 641.10 Td (announced ) Tj ET Q q 0 0 0 rg BT 365.02 641.10 Td (two ) Tj ET Q q 0 0 0 rg BT 382.49 641.10 Td (separate ) Tj ET Q q 0 0 0 rg BT 417.71 641.10 Td (acquisitions. ) Tj ET Q q 0 0 0 rg BT 470.45 641.10 Td ( ) Tj ET Q q 0 0 0 rg BT 472.92 641.10 Td (In ) Tj ET Q q 0 0 0 rg BT 483.72 641.10 Td (May ) Tj ET Q q 0 0 0 rg BT 504.52 641.10 Td (of ) Tj ET Q q 0 0 0 rg BT 515.31 641.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 540.28 641.10 Td (IOTS ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 629.10 Td (acquired ) Tj ET Q q 0 0 0 rg BT 143.08 629.10 Td (S3 ) Tj ET Q q 0 0 0 rg BT 158.79 629.10 Td (Semiconductors, ) Tj ET Q q 0 0 0 rg BT 230.87 629.10 Td (a ) Tj ET Q q 0 0 0 rg BT 240.46 629.10 Td (mixed-signal ) Tj ET Q q 0 0 0 rg BT 296.69 629.10 Td (ASIC ) Tj ET Q q 0 0 0 rg BT 324.62 629.10 Td (company) Tj ET Q q 0 0 0 rg BT 360.63 629.10 Td (. ) Tj ET Q q 0 0 0 rg BT 367.91 629.10 Td (This ) Tj ET Q q 0 0 0 rg BT 390.84 629.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 439.87 629.10 Td (materially ) Tj ET Q q 0 0 0 rg BT 485.56 629.10 Td (increases ) Tj ET Q q 0 0 0 rg BT 527.36 629.10 Td (the ) Tj ET Q q 0 0 0 rg BT 544.73 629.10 Td (total ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 617.10 Td (addressable ) Tj ET Q q 0 0 0 rg BT 151.94 617.10 Td (market ) Tj ET Q q 0 0 0 rg BT 181.50 617.10 Td (for ) Tj ET Q q 0 0 0 rg BT 194.95 617.10 Td (IOTS ) Tj ET Q q 0 0 0 rg BT 218.96 617.10 Td (and ) Tj ET Q q 0 0 0 rg BT 235.20 617.10 Td (provides ) Tj ET Q q 0 0 0 rg BT 271.43 617.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 313.21 617.10 Td (geographies ) Tj ET Q q 0 0 0 rg BT 363.32 617.10 Td (for ) Tj ET Q q 0 0 0 rg BT 376.77 617.10 Td (IOTS's ) Tj ET Q q 0 0 0 rg BT 406.48 617.10 Td (products ) Tj ET Q q 0 0 0 rg BT 442.72 617.10 Td (in ) Tj ET Q q 0 0 0 rg BT 452.29 617.10 Td (industrial ) Tj ET Q q 0 0 0 rg BT 491.85 617.10 Td (Internet ) Tj ET Q q 0 0 0 rg BT 524.74 617.10 Td (of ) Tj ET Q q 0 0 0 rg BT 534.73 617.10 Td (Things ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 605.10 Td (\(IoT\) ) Tj ET Q q 0 0 0 rg BT 137.49 605.10 Td (applications. ) Tj ET Q q 0 0 0 rg BT 192.33 605.10 Td (IOTS ) Tj ET Q q 0 0 0 rg BT 218.57 605.10 Td (followed ) Tj ET Q q 0 0 0 rg BT 258.13 605.10 Td (up ) Tj ET Q q 0 0 0 rg BT 272.15 605.10 Td (that ) Tj ET Q q 0 0 0 rg BT 291.16 605.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 339.05 605.10 Td (with ) Tj ET Q q 0 0 0 rg BT 360.85 605.10 Td (the ) Tj ET Q q 0 0 0 rg BT 377.08 605.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 416.63 605.10 Td (of ) Tj ET Q q 0 0 0 rg BT 428.98 605.10 Td (Echelon, ) Tj ET Q q 0 0 0 rg BT 468.26 605.10 Td (a ) Tj ET Q q 0 0 0 rg BT 476.72 605.10 Td (company ) Tj ET Q q 0 0 0 rg BT 517.39 605.10 Td (focused ) Tj ET Q q 0 0 0 rg BT 552.50 605.10 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 593.10 Td (developing ) Tj ET Q q 0 0 0 rg BT 150.49 593.10 Td (open-standard ) Tj ET Q q 0 0 0 rg BT 209.70 593.10 Td (control ) Tj ET Q q 0 0 0 rg BT 240.58 593.10 Td (networking ) Tj ET Q q 0 0 0 rg BT 288.69 593.10 Td (platforms. ) Tj ET Q q 0 0 0 rg BT 331.88 593.10 Td (These ) Tj ET Q q 0 0 0 rg BT 358.32 593.10 Td (two ) Tj ET Q q 0 0 0 rg BT 375.88 593.10 Td (deals ) Tj ET Q q 0 0 0 rg BT 398.98 593.10 Td (have ) Tj ET Q q 0 0 0 rg BT 420.42 593.10 Td (completely ) Tj ET Q q 0 0 0 rg BT 467.41 593.10 Td (transformed ) Tj ET Q q 0 0 0 rg BT 518.28 593.10 Td (IOTS ) Tj ET Q q 0 0 0 rg BT 543.06 593.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 581.10 Td (a ) Tj ET Q q 0 0 0 rg BT 112.66 581.10 Td (specialty ) Tj ET Q q 0 0 0 rg BT 152.92 581.10 Td (memory ) Tj ET Q q 0 0 0 rg BT 190.96 581.10 Td (company ) Tj ET Q q 0 0 0 rg BT 232.34 581.10 Td (into ) Tj ET Q q 0 0 0 rg BT 252.62 581.10 Td (a ) Tj ET Q q 0 0 0 rg BT 261.77 581.10 Td (leading ) Tj ET Q q 0 0 0 rg BT 295.93 581.10 Td (provider ) Tj ET Q q 0 0 0 rg BT 334.52 581.10 Td (of ) Tj ET Q q 0 0 0 rg BT 347.57 581.10 Td (innovative, ) Tj ET Q q 0 0 0 rg BT 397.01 581.10 Td (application-specific ) Tj ET Q q 0 0 0 rg BT 480.58 581.10 Td (semiconductors ) Tj ET Q q 0 0 0 rg BT 548.06 581.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 569.10 Td (embedded ) Tj ET Q q 0 0 0 rg BT 147.65 569.10 Td (systems ) Tj ET Q q 0 0 0 rg BT 182.37 569.10 Td (that ) Tj ET Q q 0 0 0 rg BT 200.41 569.10 Td (comprise ) Tj ET Q q 0 0 0 rg BT 240.12 569.10 Td (the ) Tj ET Q q 0 0 0 rg BT 255.39 569.10 Td (essential ) Tj ET Q q 0 0 0 rg BT 292.88 569.10 Td (building ) Tj ET Q q 0 0 0 rg BT 329.26 569.10 Td (blocks ) Tj ET Q q 0 0 0 rg BT 358.42 569.10 Td (of ) Tj ET Q q 0 0 0 rg BT 369.80 569.10 Td (IoT) Tj ET Q q 0 0 0 rg BT 384.06 569.10 Td ( ) Tj ET Q q 0 0 0 rg BT 387.11 569.10 Td (edge ) Tj ET Q q 0 0 0 rg BT 409.04 569.10 Td (devices. ) Tj ET Q q 0 0 0 rg BT 444.58 569.10 Td (Unfortunately) Tj ET Q q 0 0 0 rg BT 500.02 569.10 Td (, ) Tj ET Q q 0 0 0 rg BT 505.58 569.10 Td (IOTS ) Tj ET Q q 0 0 0 rg BT 530.85 569.10 Td (coupled ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 557.10 Td (these ) Tj ET Q q 0 0 0 rg BT 126.46 557.10 Td (announcements ) Tj ET Q q 0 0 0 rg BT 191.08 557.10 Td (with ) Tj ET Q q 0 0 0 rg BT 211.27 557.10 Td (a ) Tj ET Q q 0 0 0 rg BT 218.12 557.10 Td (disappointing ) Tj ET Q q 0 0 0 rg BT 274.98 557.10 Td (Q2 ) Tj ET Q q 0 0 0 rg BT 289.62 557.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 312.03 557.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 349.43 557.10 Td (report ) Tj ET Q q 0 0 0 rg BT 375.72 557.10 Td (followed ) Tj ET Q q 0 0 0 rg BT 413.68 557.10 Td (by ) Tj ET Q q 0 0 0 rg BT 426.10 557.10 Td (a ) Tj ET Q q 0 0 0 rg BT 432.95 557.10 Td ($40 ) Tj ET Q q 0 0 0 rg BT 450.36 557.10 Td (million ) Tj ET Q q 0 0 0 rg BT 481.67 557.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 509.08 557.10 Td (raise ) Tj ET Q q 0 0 0 rg BT 530.37 557.10 Td (at ) Tj ET Q q 0 0 0 rg BT 540.00 557.10 Td ($6.00 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 545.10 Td (per ) Tj ET Q q 0 0 0 rg BT 118.47 545.10 Td (share. ) Tj ET Q q 0 0 0 rg BT 144.10 545.10 Td (The ) Tj ET Q q 0 0 0 rg BT 161.85 545.10 Td (fourth ) Tj ET Q q 0 0 0 rg BT 188.48 545.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 219.00 545.10 Td (saw ) Tj ET Q q 0 0 0 rg BT 236.74 545.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 281.15 545.10 Td (deterioration ) Tj ET Q q 0 0 0 rg BT 334.44 545.10 Td (in ) Tj ET Q q 0 0 0 rg BT 344.42 545.10 Td (the ) Tj ET Q q 0 0 0 rg BT 358.83 545.10 Td (entire ) Tj ET Q q 0 0 0 rg BT 383.79 545.10 Td (semiconductor ) Tj ET Q q 0 0 0 rg BT 444.86 545.10 Td (space ) Tj ET Q q 0 0 0 rg BT 469.26 545.10 Td (due ) Tj ET Q q 0 0 0 rg BT 485.90 545.10 Td (to ) Tj ET Q q 0 0 0 rg BT 495.88 545.10 Td (excess ) Tj ET Q q 0 0 0 rg BT 524.17 545.10 Td (inventory ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 533.10 Td (and ) Tj ET Q q 0 0 0 rg BT 120.24 533.10 Td (concerns ) Tj ET Q q 0 0 0 rg BT 158.07 533.10 Td (of ) Tj ET Q q 0 0 0 rg BT 168.70 533.10 Td (a ) Tj ET Q q 0 0 0 rg BT 175.43 533.10 Td (continued ) Tj ET Q q 0 0 0 rg BT 217.16 533.10 Td (trade ) Tj ET Q q 0 0 0 rg BT 239.45 533.10 Td (war ) Tj ET Q q 0 0 0 rg BT 256.73 533.10 Td (with ) Tj ET Q q 0 0 0 rg BT 276.81 533.10 Td (China. ) Tj ET Q q 0 0 0 rg BT 305.33 533.10 Td (W) Tj ET Q q 0 0 0 rg BT 313.97 533.10 Td (e ) Tj ET Q q 0 0 0 rg BT 320.70 533.10 Td (have ) Tj ET Q q 0 0 0 rg BT 341.88 533.10 Td (nearly ) Tj ET Q q 0 0 0 rg BT 369.16 533.10 Td (doubled ) Tj ET Q q 0 0 0 rg BT 403.67 533.10 Td (our ) Tj ET Q q 0 0 0 rg BT 419.30 533.10 Td (position ) Tj ET Q q 0 0 0 rg BT 453.82 533.10 Td (since ) Tj ET Q q 0 0 0 rg BT 476.67 533.10 Td (exiting ) Tj ET Q q 0 0 0 rg BT 506.74 533.10 Td (Q2 ) Tj ET Q q 0 0 0 rg BT 521.26 533.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 543.56 533.10 Td (at ) Tj ET Q q 0 0 0 rg BT 553.07 533.10 Td (an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 521.10 Td (average ) Tj ET Q q 0 0 0 rg BT 136.75 521.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 155.03 521.10 Td (of ) Tj ET Q q 0 0 0 rg BT 165.52 521.10 Td ($5.21. ) Tj ET Q q 0 0 0 rg BT 192.53 521.10 Td (W) Tj ET Q q 0 0 0 rg BT 201.17 521.10 Td (e ) Tj ET Q q 0 0 0 rg BT 207.78 521.10 Td (believe ) Tj ET Q q 0 0 0 rg BT 238.82 521.10 Td (the ) Tj ET Q q 0 0 0 rg BT 253.20 521.10 Td (inventory ) Tj ET Q q 0 0 0 rg BT 293.69 521.10 Td (overhang ) Tj ET Q q 0 0 0 rg BT 333.07 521.10 Td (will ) Tj ET Q q 0 0 0 rg BT 350.79 521.10 Td (dissipate ) Tj ET Q q 0 0 0 rg BT 387.95 521.10 Td (as ) Tj ET Q q 0 0 0 rg BT 398.45 521.10 Td (2019 ) Tj ET Q q 0 0 0 rg BT 420.62 521.10 Td (unfolds ) Tj ET Q q 0 0 0 rg BT 452.78 521.10 Td (and ) Tj ET Q q 0 0 0 rg BT 469.39 521.10 Td (expect ) Tj ET Q q 0 0 0 rg BT 497.65 521.10 Td (IOTS ) Tj ET Q q 0 0 0 rg BT 522.04 521.10 Td (to ) Tj ET Q q 0 0 0 rg BT 531.98 521.10 Td (achieve ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 509.10 Td (notable ) Tj ET Q q 0 0 0 rg BT 136.12 509.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 170.94 509.10 Td (and ) Tj ET Q q 0 0 0 rg BT 188.57 509.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 207.86 509.10 Td (syner) Tj ET Q q 0 0 0 rg BT 229.34 509.10 Td (gies ) Tj ET Q q 0 0 0 rg BT 248.63 509.10 Td (from ) Tj ET Q q 0 0 0 rg BT 271.25 509.10 Td (its ) Tj ET Q q 0 0 0 rg BT 283.88 509.10 Td (recent ) Tj ET Q q 0 0 0 rg BT 311.49 509.10 Td (two ) Tj ET Q q 0 0 0 rg BT 329.67 509.10 Td (acquisitions. ) Tj ET Q q 0 0 0 rg BT 383.12 509.10 Td ( ) Tj ET Q q 0 0 0 rg BT 386.31 509.10 Td (For ) Tj ET Q q 0 0 0 rg BT 403.38 509.10 Td (the ) Tj ET Q q 0 0 0 rg BT 418.78 509.10 Td (quarter) Tj ET Q q 0 0 0 rg BT 446.70 509.10 Td (, ) Tj ET Q q 0 0 0 rg BT 452.38 509.10 Td (IOTS ) Tj ET Q q 0 0 0 rg BT 477.78 509.10 Td (reduced ) Tj ET Q q 0 0 0 rg BT 512.61 509.10 Td (our ) Tj ET Q q 0 0 0 rg BT 529.12 509.10 Td (NA) Tj ET Q q 0 0 0 rg BT 542.28 509.10 Td (V) Tj ET Q q 0 0 0 rg BT 549.32 509.10 Td ( ) Tj ET Q q 0 0 0 rg BT 552.50 509.10 Td (by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 497.10 Td ($0.05.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 485.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 473.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 473.10 Td (Mersana ) Tj ET Q q 0 0 0 rg BT 142.23 473.10 Td (Therapeutics, ) Tj ET Q q 0 0 0 rg BT 201.01 473.10 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 220.91 473.10 Td (\(NASDAQ: ) Tj ET Q q 0 0 0 rg BT 273.33 473.10 Td (MRSN\) ) Tj ET Q q 0 0 0 rg BT 309.64 473.10 Td (is ) Tj ET Q q 0 0 0 rg BT 320.94 473.10 Td (biotech ) Tj ET Q q 0 0 0 rg BT 355.01 473.10 Td (company ) Tj ET Q q 0 0 0 rg BT 396.30 473.10 Td (that ) Tj ET Q q 0 0 0 rg BT 415.94 473.10 Td (produces ) Tj ET Q q 0 0 0 rg BT 456.67 473.10 Td (novel ) Tj ET Q q 0 0 0 rg BT 483.52 473.10 Td (drug ) Tj ET Q q 0 0 0 rg BT 506.49 473.10 Td (conjugates. ) Tj ET Q q 0 0 0 rg BT 556.39 473.10 Td (It ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 461.10 Td (specializes ) Tj ET Q q 0 0 0 rg BT 150.31 461.10 Td (in ) Tj ET Q q 0 0 0 rg BT 161.59 461.10 Td (oncology ) Tj ET Q q 0 0 0 rg BT 202.31 461.10 Td (agents ) Tj ET Q q 0 0 0 rg BT 231.36 461.10 Td (for ) Tj ET Q q 0 0 0 rg BT 246.52 461.10 Td (the ) Tj ET Q q 0 0 0 rg BT 262.24 461.10 Td (treatment ) Tj ET Q q 0 0 0 rg BT 303.51 461.10 Td (of ) Tj ET Q q 0 0 0 rg BT 315.34 461.10 Td (tumors ) Tj ET Q q 0 0 0 rg BT 346.62 461.10 Td (and ) Tj ET Q q 0 0 0 rg BT 364.56 461.10 Td (cancer) Tj ET Q q 0 0 0 rg BT 390.09 461.10 Td (. ) Tj ET Q q 0 0 0 rg BT 395.32 461.10 Td (As ) Tj ET Q q 0 0 0 rg BT 409.94 461.10 Td (everyone ) Tj ET Q q 0 0 0 rg BT 450.08 461.10 Td (knows, ) Tj ET Q q 0 0 0 rg BT 482.20 461.10 Td (there ) Tj ET Q q 0 0 0 rg BT 505.69 461.10 Td (is ) Tj ET Q q 0 0 0 rg BT 515.86 461.10 Td (tremendous ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 449.10 Td (volatility ) Tj ET Q q 0 0 0 rg BT 142.45 449.10 Td (for ) Tj ET Q q 0 0 0 rg BT 156.95 449.10 Td (a ) Tj ET Q q 0 0 0 rg BT 164.23 449.10 Td (biotech ) Tj ET Q q 0 0 0 rg BT 196.51 449.10 Td (company ) Tj ET Q q 0 0 0 rg BT 236.00 449.10 Td (that ) Tj ET Q q 0 0 0 rg BT 253.84 449.10 Td (is ) Tj ET Q q 0 0 0 rg BT 263.35 449.10 Td (currently ) Tj ET Q q 0 0 0 rg BT 302.29 449.10 Td (in ) Tj ET Q q 0 0 0 rg BT 312.91 449.10 Td (the ) Tj ET Q q 0 0 0 rg BT 327.97 449.10 Td (middle ) Tj ET Q q 0 0 0 rg BT 358.58 449.10 Td (of ) Tj ET Q q 0 0 0 rg BT 369.75 449.10 Td (clinical ) Tj ET Q q 0 0 0 rg BT 402.03 449.10 Td (trials. ) Tj ET Q q 0 0 0 rg BT 427.36 449.10 Td (In ) Tj ET Q q 0 0 0 rg BT 438.53 449.10 Td (Q3 ) Tj ET Q q 0 0 0 rg BT 453.60 449.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 478.94 449.10 Td (one ) Tj ET Q q 0 0 0 rg BT 496.22 449.10 Td (patient ) Tj ET Q q 0 0 0 rg BT 526.27 449.10 Td (in ) Tj ET Q q 0 0 0 rg BT 536.89 449.10 Td (one ) Tj ET Q q 0 0 0 rg BT 554.17 449.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 437.10 Td (MRSN's ) Tj ET Q q 0 0 0 rg BT 140.36 437.10 Td (trials ) Tj ET Q q 0 0 0 rg BT 163.17 437.10 Td (died, ) Tj ET Q q 0 0 0 rg BT 185.71 437.10 Td (possibly ) Tj ET Q q 0 0 0 rg BT 221.87 437.10 Td (from ) Tj ET Q q 0 0 0 rg BT 244.12 437.10 Td (side ) Tj ET Q q 0 0 0 rg BT 263.05 437.10 Td (ef) Tj ET Q q 0 0 0 rg BT 270.64 437.10 Td (fects ) Tj ET Q q 0 0 0 rg BT 292.33 437.10 Td (of ) Tj ET Q q 0 0 0 rg BT 303.48 437.10 Td (the ) Tj ET Q q 0 0 0 rg BT 318.52 437.10 Td (drug, ) Tj ET Q q 0 0 0 rg BT 342.17 437.10 Td (and ) Tj ET Q q 0 0 0 rg BT 359.42 437.10 Td (the ) Tj ET Q q 0 0 0 rg BT 374.46 437.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 398.39 437.10 Td (collapsed ) Tj ET Q q 0 0 0 rg BT 438.97 437.10 Td (to ) Tj ET Q q 0 0 0 rg BT 449.57 437.10 Td ($10 ) Tj ET Q q 0 0 0 rg BT 467.39 437.10 Td (per ) Tj ET Q q 0 0 0 rg BT 482.97 437.10 Td (share ) Tj ET Q q 0 0 0 rg BT 506.89 437.10 Td (when ) Tj ET Q q 0 0 0 rg BT 531.37 437.10 Td (the ) Tj ET Q q 0 0 0 rg BT 546.41 437.10 Td (trial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 425.10 Td (was ) Tj ET Q q 0 0 0 rg BT 121.56 425.10 Td (put ) Tj ET Q q 0 0 0 rg BT 136.85 425.10 Td (on ) Tj ET Q q 0 0 0 rg BT 149.36 425.10 Td (partial ) Tj ET Q q 0 0 0 rg BT 177.42 425.10 Td (clinical ) Tj ET Q q 0 0 0 rg BT 209.36 425.10 Td (hold. ) Tj ET Q q 0 0 0 rg BT 231.59 425.10 Td (Although ) Tj ET Q q 0 0 0 rg BT 271.88 425.10 Td (MRSN ) Tj ET Q q 0 0 0 rg BT 302.74 425.10 Td (announced ) Tj ET Q q 0 0 0 rg BT 348.56 425.10 Td (that ) Tj ET Q q 0 0 0 rg BT 366.07 425.10 Td (the ) Tj ET Q q 0 0 0 rg BT 380.80 425.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 401.09 425.10 Td (Food ) Tj ET Q q 0 0 0 rg BT 424.17 425.10 Td (and ) Tj ET Q q 0 0 0 rg BT 441.12 425.10 Td (Drug ) Tj ET Q q 0 0 0 rg BT 463.62 425.10 Td (Administration ) Tj ET Q q 0 0 0 rg BT 526.69 425.10 Td (lifted ) Tj ET Q q 0 0 0 rg BT 550.30 425.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 413.10 Td (partial ) Tj ET Q q 0 0 0 rg BT 131.96 413.10 Td (clinical ) Tj ET Q q 0 0 0 rg BT 164.30 413.10 Td (hold, ) Tj ET Q q 0 0 0 rg BT 187.49 413.10 Td (the ) Tj ET Q q 0 0 0 rg BT 202.63 413.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 226.65 413.10 Td (continued ) Tj ET Q q 0 0 0 rg BT 269.00 413.10 Td (its ) Tj ET Q q 0 0 0 rg BT 281.36 413.10 Td (decline ) Tj ET Q q 0 0 0 rg BT 313.15 413.10 Td (in ) Tj ET Q q 0 0 0 rg BT 323.84 413.10 Td (Q4 ) Tj ET Q q 0 0 0 rg BT 338.98 413.10 Td (2018. ) Tj ET Q q 0 0 0 rg BT 364.18 413.10 Td (W) Tj ET Q q 0 0 0 rg BT 372.82 413.10 Td (e ) Tj ET Q q 0 0 0 rg BT 380.17 413.10 Td (note ) Tj ET Q q 0 0 0 rg BT 400.31 413.10 Td (that ) Tj ET Q q 0 0 0 rg BT 418.22 413.10 Td (the ) Tj ET Q q 0 0 0 rg BT 433.35 413.10 Td (NASDAQ ) Tj ET Q q 0 0 0 rg BT 477.93 413.10 Td (Biotechnology ) Tj ET Q q 0 0 0 rg BT 539.73 413.10 Td (Index ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 401.10 Td (declined ) Tj ET Q q 0 0 0 rg BT 139.54 401.10 Td (21% ) Tj ET Q q 0 0 0 rg BT 160.04 401.10 Td (in ) Tj ET Q q 0 0 0 rg BT 169.98 401.10 Td (Q4 ) Tj ET Q q 0 0 0 rg BT 184.37 401.10 Td (2018. ) Tj ET Q q 0 0 0 rg BT 209.04 401.10 Td (Most ) Tj ET Q q 0 0 0 rg BT 231.77 401.10 Td (early ) Tj ET Q q 0 0 0 rg BT 253.92 401.10 Td (stage ) Tj ET Q q 0 0 0 rg BT 276.64 401.10 Td (biotech ) Tj ET Q q 0 0 0 rg BT 308.24 401.10 Td (companies ) Tj ET Q q 0 0 0 rg BT 353.17 401.10 Td (either ) Tj ET Q q 0 0 0 rg BT 378.10 401.10 Td (burn ) Tj ET Q q 0 0 0 rg BT 398.60 401.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 418.54 401.10 Td (or ) Tj ET Q q 0 0 0 rg BT 429.04 401.10 Td (are ) Tj ET Q q 0 0 0 rg BT 443.41 401.10 Td (in ) Tj ET Q q 0 0 0 rg BT 453.36 401.10 Td (need ) Tj ET Q q 0 0 0 rg BT 474.40 401.10 Td (of ) Tj ET Q q 0 0 0 rg BT 484.90 401.10 Td (raising ) Tj ET Q q 0 0 0 rg BT 514.29 401.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 534.22 401.10 Td (to ) Tj ET Q q 0 0 0 rg BT 544.17 401.10 Td (fund ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 389.10 Td (expensive ) Tj ET Q q 0 0 0 rg BT 146.00 389.10 Td (clinical ) Tj ET Q q 0 0 0 rg BT 177.94 389.10 Td (trials. ) Tj ET Q q 0 0 0 rg BT 202.95 389.10 Td (During ) Tj ET Q q 0 0 0 rg BT 233.79 389.10 Td (a ) Tj ET Q q 0 0 0 rg BT 240.75 389.10 Td (bear ) Tj ET Q q 0 0 0 rg BT 260.47 389.10 Td (market, ) Tj ET Q q 0 0 0 rg BT 293.24 389.10 Td (like ) Tj ET Q q 0 0 0 rg BT 310.75 389.10 Td (the ) Tj ET Q q 0 0 0 rg BT 325.48 389.10 Td (one ) Tj ET Q q 0 0 0 rg BT 342.44 389.10 Td (we ) Tj ET Q q 0 0 0 rg BT 356.61 389.10 Td (saw ) Tj ET Q q 0 0 0 rg BT 374.67 389.10 Td (in ) Tj ET Q q 0 0 0 rg BT 384.97 389.10 Td (Q4 ) Tj ET Q q 0 0 0 rg BT 399.70 389.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 424.72 389.10 Td (investors ) Tj ET Q q 0 0 0 rg BT 463.34 389.10 Td (flee ) Tj ET Q q 0 0 0 rg BT 480.84 389.10 Td (from ) Tj ET Q q 0 0 0 rg BT 502.79 389.10 Td (the ) Tj ET Q q 0 0 0 rg BT 517.52 389.10 Td (speculative ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 377.10 Td (biotech ) Tj ET Q q 0 0 0 rg BT 134.69 377.10 Td (sector) Tj ET Q q 0 0 0 rg BT 158.02 377.10 Td (. ) Tj ET Q q 0 0 0 rg BT 162.28 377.10 Td (In ) Tj ET Q q 0 0 0 rg BT 172.37 377.10 Td (the ) Tj ET Q q 0 0 0 rg BT 186.34 377.10 Td (case ) Tj ET Q q 0 0 0 rg BT 205.31 377.10 Td (of ) Tj ET Q q 0 0 0 rg BT 215.40 377.10 Td (MRSN, ) Tj ET Q q 0 0 0 rg BT 248.00 377.10 Td (there ) Tj ET Q q 0 0 0 rg BT 269.75 377.10 Td (was ) Tj ET Q q 0 0 0 rg BT 287.06 377.10 Td (no ) Tj ET Q q 0 0 0 rg BT 298.82 377.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 342.79 377.10 Td (news ) Tj ET Q q 0 0 0 rg BT 365.10 377.10 Td (during ) Tj ET Q q 0 0 0 rg BT 392.97 377.10 Td (the ) Tj ET Q q 0 0 0 rg BT 406.94 377.10 Td (quarter) Tj ET Q q 0 0 0 rg BT 434.71 377.10 Td (. ) Tj ET Q q 0 0 0 rg BT 438.97 377.10 Td (For ) Tj ET Q q 0 0 0 rg BT 454.62 377.10 Td (the ) Tj ET Q q 0 0 0 rg BT 468.59 377.10 Td (quarter) Tj ET Q q 0 0 0 rg BT 496.51 377.10 Td (, ) Tj ET Q q 0 0 0 rg BT 500.77 377.10 Td (MRSN ) Tj ET Q q 0 0 0 rg BT 530.87 377.10 Td (reduced ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 365.10 Td (our ) Tj ET Q q 0 0 0 rg BT 119.33 365.10 Td (NA) Tj ET Q q 0 0 0 rg BT 132.48 365.10 Td (V) Tj ET Q q 0 0 0 rg BT 139.53 365.10 Td ( ) Tj ET Q q 0 0 0 rg BT 142.03 365.10 Td (by ) Tj ET Q q 0 0 0 rg BT 154.53 365.10 Td ($0.05.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 341.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 341.10 Td (TheStreet, ) Tj ET Q q 0 0 0 rg BT 147.10 341.10 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 164.60 341.10 Td (\(NASDAQ: ) Tj ET Q q 0 0 0 rg BT 214.45 341.10 Td (TST\) ) Tj ET Q q 0 0 0 rg BT 237.79 341.10 Td (has ) Tj ET Q q 0 0 0 rg BT 253.35 341.10 Td (been ) Tj ET Q q 0 0 0 rg BT 274.46 341.10 Td (a ) Tj ET Q q 0 0 0 rg BT 281.12 341.10 Td (successful ) Tj ET Q q 0 0 0 rg BT 324.45 341.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 370.57 341.10 Td (for ) Tj ET Q q 0 0 0 rg BT 384.46 341.10 Td (our ) Tj ET Q q 0 0 0 rg BT 400.02 341.10 Td (shareholders. ) Tj ET Q q 0 0 0 rg BT 454.79 341.10 Td (A) Tj ET Q q 0 0 0 rg BT 461.46 341.10 Td ( ) Tj ET Q q 0 0 0 rg BT 463.69 341.10 Td (year ) Tj ET Q q 0 0 0 rg BT 483.13 341.10 Td (ago, ) Tj ET Q q 0 0 0 rg BT 502.30 341.10 Td (we ) Tj ET Q q 0 0 0 rg BT 516.19 341.10 Td (helped ) Tj ET Q q 0 0 0 rg BT 544.91 341.10 Td (TST) Tj ET Q q 0 0 0 rg BT 562.51 341.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 329.10 Td (retire ) Tj ET Q q 0 0 0 rg BT 126.89 329.10 Td (its ) Tj ET Q q 0 0 0 rg BT 138.63 329.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 177.55 329.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 200.95 329.10 Td (at ) Tj ET Q q 0 0 0 rg BT 210.46 329.10 Td (a ) Tj ET Q q 0 0 0 rg BT 217.19 329.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 261.69 329.10 Td (discount, ) Tj ET Q q 0 0 0 rg BT 300.37 329.10 Td (and ) Tj ET Q q 0 0 0 rg BT 317.10 329.10 Td (we ) Tj ET Q q 0 0 0 rg BT 331.05 329.10 Td (joined ) Tj ET Q q 0 0 0 rg BT 358.34 329.10 Td (the ) Tj ET Q q 0 0 0 rg BT 372.85 329.10 Td (board ) Tj ET Q q 0 0 0 rg BT 397.91 329.10 Td (of ) Tj ET Q q 0 0 0 rg BT 408.53 329.10 Td (directors. ) Tj ET Q q 0 0 0 rg BT 448.31 329.10 Td (In ) Tj ET Q q 0 0 0 rg BT 458.93 329.10 Td (the ) Tj ET Q q 0 0 0 rg BT 473.44 329.10 Td (first ) Tj ET Q q 0 0 0 rg BT 491.84 329.10 Td (half ) Tj ET Q q 0 0 0 rg BT 509.68 329.10 Td (of ) Tj ET Q q 0 0 0 rg BT 520.30 329.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 544.92 329.10 Td (TST) Tj ET Q q 0 0 0 rg BT 562.52 329.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 317.10 Td (sold ) Tj ET Q q 0 0 0 rg BT 122.45 317.10 Td (its ) Tj ET Q q 0 0 0 rg BT 134.18 317.10 Td (deposit ) Tj ET Q q 0 0 0 rg BT 165.34 317.10 Td (and ) Tj ET Q q 0 0 0 rg BT 182.06 317.10 Td (loan ) Tj ET Q q 0 0 0 rg BT 201.56 317.10 Td (data ) Tj ET Q q 0 0 0 rg BT 220.49 317.10 Td (collection ) Tj ET Q q 0 0 0 rg BT 262.20 317.10 Td (subsidiary) Tj ET Q q 0 0 0 rg BT 302.66 317.10 Td (, ) Tj ET Q q 0 0 0 rg BT 307.44 317.10 Td (RateW) Tj ET Q q 0 0 0 rg BT 334.40 317.10 Td (atch, ) Tj ET Q q 0 0 0 rg BT 355.83 317.10 Td (to ) Tj ET Q q 0 0 0 rg BT 365.89 317.10 Td (S&P) Tj ET Q q 0 0 0 rg BT 384.42 317.10 Td ( ) Tj ET Q q 0 0 0 rg BT 386.70 317.10 Td (Global ) Tj ET Q q 0 0 0 rg BT 416.20 317.10 Td (for ) Tj ET Q q 0 0 0 rg BT 430.14 317.10 Td ($33.5 ) Tj ET Q q 0 0 0 rg BT 454.92 317.10 Td (million. ) Tj ET Q q 0 0 0 rg BT 488.59 317.10 Td (In ) Tj ET Q q 0 0 0 rg BT 499.20 317.10 Td (this ) Tj ET Q q 0 0 0 rg BT 515.92 317.10 Td (last ) Tj ET Q q 0 0 0 rg BT 532.09 317.10 Td (quarter) Tj ET Q q 0 0 0 rg BT 560.01 317.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 305.10 Td (TST) Tj ET Q q 0 0 0 rg BT 121.10 305.10 Td ( ) Tj ET Q q 0 0 0 rg BT 122.94 305.10 Td (sold ) Tj ET Q q 0 0 0 rg BT 141.45 305.10 Td (the ) Tj ET Q q 0 0 0 rg BT 155.51 305.10 Td (rest ) Tj ET Q q 0 0 0 rg BT 171.80 305.10 Td (of ) Tj ET Q q 0 0 0 rg BT 181.97 305.10 Td (its ) Tj ET Q q 0 0 0 rg BT 193.26 305.10 Td (institutional ) Tj ET Q q 0 0 0 rg BT 242.88 305.10 Td (businesses, ) Tj ET Q q 0 0 0 rg BT 289.45 305.10 Td (BoardEx ) Tj ET Q q 0 0 0 rg BT 326.84 305.10 Td (and ) Tj ET Q q 0 0 0 rg BT 342.99 305.10 Td (The ) Tj ET Q q 0 0 0 rg BT 360.38 305.10 Td (Deal, ) Tj ET Q q 0 0 0 rg BT 383.60 305.10 Td (to ) Tj ET Q q 0 0 0 rg BT 393.22 305.10 Td (Euromoney ) Tj ET Q q 0 0 0 rg BT 441.72 305.10 Td (Institutional ) Tj ET Q q 0 0 0 rg BT 491.89 305.10 Td (Investor ) Tj ET Q q 0 0 0 rg BT 526.50 305.10 Td (for ) Tj ET Q q 0 0 0 rg BT 540.00 305.10 Td ($87.3 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 293.10 Td (million.TST) Tj ET Q q 0 0 0 rg BT 152.49 293.10 Td ( ) Tj ET Q q 0 0 0 rg BT 155.22 293.10 Td (stated ) Tj ET Q q 0 0 0 rg BT 181.27 293.10 Td (it ) Tj ET Q q 0 0 0 rg BT 189.55 293.10 Td (plans ) Tj ET Q q 0 0 0 rg BT 213.39 293.10 Td (to ) Tj ET Q q 0 0 0 rg BT 223.89 293.10 Td (return ) Tj ET Q q 0 0 0 rg BT 250.50 293.10 Td (a ) Tj ET Q q 0 0 0 rg BT 257.66 293.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 302.60 293.10 Td (portion ) Tj ET Q q 0 0 0 rg BT 334.22 293.10 Td (of ) Tj ET Q q 0 0 0 rg BT 345.27 293.10 Td (the ) Tj ET Q q 0 0 0 rg BT 360.22 293.10 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 398.48 293.10 Td (from ) Tj ET Q q 0 0 0 rg BT 420.65 293.10 Td (these ) Tj ET Q q 0 0 0 rg BT 443.92 293.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 466.09 293.10 Td (and ) Tj ET Q q 0 0 0 rg BT 483.25 293.10 Td (its ) Tj ET Q q 0 0 0 rg BT 495.43 293.10 Td (available ) Tj ET Q q 0 0 0 rg BT 534.24 293.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 554.74 293.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 281.10 Td (the ) Tj ET Q q 0 0 0 rg BT 119.25 281.10 Td (form ) Tj ET Q q 0 0 0 rg BT 142.22 281.10 Td (of ) Tj ET Q q 0 0 0 rg BT 154.08 281.10 Td (a ) Tj ET Q q 0 0 0 rg BT 162.05 281.10 Td (special ) Tj ET Q q 0 0 0 rg BT 193.35 281.10 Td (distribution. ) Tj ET Q q 0 0 0 rg BT 244.72 281.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 294.62 281.10 Td (, ) Tj ET Q q 0 0 0 rg BT 300.40 281.10 Td (TST) Tj ET Q q 0 0 0 rg BT 317.99 281.10 Td ( ) Tj ET Q q 0 0 0 rg BT 321.53 281.10 Td (continues ) Tj ET Q q 0 0 0 rg BT 363.39 281.10 Td (to ) Tj ET Q q 0 0 0 rg BT 374.70 281.10 Td (look ) Tj ET Q q 0 0 0 rg BT 396.01 281.10 Td (at ) Tj ET Q q 0 0 0 rg BT 406.76 281.10 Td (strategic ) Tj ET Q q 0 0 0 rg BT 444.16 281.10 Td (alternatives ) Tj ET Q q 0 0 0 rg BT 493.78 281.10 Td (for ) Tj ET Q q 0 0 0 rg BT 508.98 281.10 Td (its ) Tj ET Q q 0 0 0 rg BT 521.96 281.10 Td (remaining ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 269.10 Td (consumer ) Tj ET Q q 0 0 0 rg BT 144.22 269.10 Td (businesses. ) Tj ET Q q 0 0 0 rg BT 190.78 269.10 Td ( ) Tj ET Q q 0 0 0 rg BT 192.61 269.10 Td (Since ) Tj ET Q q 0 0 0 rg BT 216.67 269.10 Td (the ) Tj ET Q q 0 0 0 rg BT 230.72 269.10 Td (announcement ) Tj ET Q q 0 0 0 rg BT 290.87 269.10 Td (of ) Tj ET Q q 0 0 0 rg BT 301.04 269.10 Td (our ) Tj ET Q q 0 0 0 rg BT 316.21 269.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 360.26 269.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 405.98 269.10 Td (in ) Tj ET Q q 0 0 0 rg BT 415.60 269.10 Td (the ) Tj ET Q q 0 0 0 rg BT 429.65 269.10 Td (fall ) Tj ET Q q 0 0 0 rg BT 444.82 269.10 Td (of ) Tj ET Q q 0 0 0 rg BT 454.98 269.10 Td (2017, ) Tj ET Q q 0 0 0 rg BT 479.32 269.10 Td (the ) Tj ET Q q 0 0 0 rg BT 493.38 269.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 516.32 269.10 Td (is ) Tj ET Q q 0 0 0 rg BT 524.83 269.10 Td (up ) Tj ET Q q 0 0 0 rg BT 536.67 269.10 Td (100%. ) Tj ET Q q 0 0 0 rg BT 565.00 269.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 257.10 Td (In ) Tj ET Q q 0 0 0 rg BT 114.58 257.10 Td (the ) Tj ET Q q 0 0 0 rg BT 129.55 257.10 Td (fourth ) Tj ET Q q 0 0 0 rg BT 156.74 257.10 Td (quarter) Tj ET Q q 0 0 0 rg BT 184.65 257.10 Td (, ) Tj ET Q q 0 0 0 rg BT 189.91 257.10 Td (the ) Tj ET Q q 0 0 0 rg BT 204.87 257.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 228.73 257.10 Td (trended ) Tj ET Q q 0 0 0 rg BT 261.47 257.10 Td (down ) Tj ET Q q 0 0 0 rg BT 286.44 257.10 Td (with ) Tj ET Q q 0 0 0 rg BT 306.97 257.10 Td (the ) Tj ET Q q 0 0 0 rg BT 321.94 257.10 Td (overall ) Tj ET Q q 0 0 0 rg BT 352.46 257.10 Td (market, ) Tj ET Q q 0 0 0 rg BT 385.47 257.10 Td (only ) Tj ET Q q 0 0 0 rg BT 406.00 257.10 Td (to ) Tj ET Q q 0 0 0 rg BT 416.53 257.10 Td (rally ) Tj ET Q q 0 0 0 rg BT 437.61 257.10 Td (significantly ) Tj ET Q q 0 0 0 rg BT 490.35 257.10 Td (following ) Tj ET Q q 0 0 0 rg BT 531.99 257.10 Td (the ) Tj ET Q q 0 0 0 rg BT 546.96 257.10 Td (sale ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 245.10 Td (announcement. ) Tj ET Q q 0 0 0 rg BT 166.80 245.10 Td ( ) Tj ET Q q 0 0 0 rg BT 169.11 245.10 Td (TST's ) Tj ET Q q 0 0 0 rg BT 195.07 245.10 Td (year) Tj ET Q q 0 0 0 rg BT 212.07 245.10 Td (-end ) Tj ET Q q 0 0 0 rg BT 232.33 245.10 Td (close ) Tj ET Q q 0 0 0 rg BT 255.36 245.10 Td (of ) Tj ET Q q 0 0 0 rg BT 266.18 245.10 Td ($2.03 ) Tj ET Q q 0 0 0 rg BT 291.17 245.10 Td (was ) Tj ET Q q 0 0 0 rg BT 309.21 245.10 Td (less ) Tj ET Q q 0 0 0 rg BT 326.70 245.10 Td (than ) Tj ET Q q 0 0 0 rg BT 346.40 245.10 Td (the ) Tj ET Q q 0 0 0 rg BT 361.11 245.10 Td (projected ) Tj ET Q q 0 0 0 rg BT 400.80 245.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 421.05 245.10 Td (per ) Tj ET Q q 0 0 0 rg BT 436.31 245.10 Td (share ) Tj ET Q q 0 0 0 rg BT 459.90 245.10 Td (of ) Tj ET Q q 0 0 0 rg BT 470.71 245.10 Td ($2.14 ) Tj ET Q q 0 0 0 rg BT 495.70 245.10 Td (to ) Tj ET Q q 0 0 0 rg BT 505.97 245.10 Td ($2.23. ) Tj ET Q q 0 0 0 rg BT 533.45 245.10 Td ( ) Tj ET Q q 0 0 0 rg BT 535.76 245.10 Td (TST) Tj ET Q q 0 0 0 rg BT 553.36 245.10 Td ( ) Tj ET Q q 0 0 0 rg BT 555.85 245.10 Td (is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 233.10 Td (our ) Tj ET Q q 0 0 0 rg BT 119.07 233.10 Td (signature ) Tj ET Q q 0 0 0 rg BT 157.96 233.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 204.07 233.10 Td (for ) Tj ET Q q 0 0 0 rg BT 217.97 233.10 Td (how ) Tj ET Q q 0 0 0 rg BT 237.43 233.10 Td (we ) Tj ET Q q 0 0 0 rg BT 251.32 233.10 Td (define ) Tj ET Q q 0 0 0 rg BT 278.54 233.10 Td (constructive ) Tj ET Q q 0 0 0 rg BT 329.65 233.10 Td (activism. ) Tj ET Q q 0 0 0 rg BT 368.27 233.10 Td ( ) Tj ET Q q 0 0 0 rg BT 370.50 233.10 Td (For ) Tj ET Q q 0 0 0 rg BT 386.63 233.10 Td (the ) Tj ET Q q 0 0 0 rg BT 401.08 233.10 Td (quarter) Tj ET Q q 0 0 0 rg BT 429.00 233.10 Td (, ) Tj ET Q q 0 0 0 rg BT 433.57 233.10 Td (TST) Tj ET Q q 0 0 0 rg BT 451.17 233.10 Td ( ) Tj ET Q q 0 0 0 rg BT 453.40 233.10 Td (reduced ) Tj ET Q q 0 0 0 rg BT 487.28 233.10 Td (our ) Tj ET Q q 0 0 0 rg BT 502.85 233.10 Td (NA) Tj ET Q q 0 0 0 rg BT 516.00 233.10 Td (V) Tj ET Q q 0 0 0 rg BT 523.04 233.10 Td ( ) Tj ET Q q 0 0 0 rg BT 525.28 233.10 Td (by ) Tj ET Q q 0 0 0 rg BT 537.52 233.10 Td ($0.03.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 209.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 209.10 Td (Air) Tj ET Q q 0 0 0 rg BT 116.65 209.10 Td (gain, ) Tj ET Q q 0 0 0 rg BT 139.22 209.10 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 157.33 209.10 Td (\(NASDAQ: ) Tj ET Q q 0 0 0 rg BT 207.33 209.10 Td (AIRG\) ) Tj ET Q q 0 0 0 rg BT 237.95 209.10 Td (is ) Tj ET Q q 0 0 0 rg BT 247.47 209.10 Td (a ) Tj ET Q q 0 0 0 rg BT 254.76 209.10 Td (provider ) Tj ET Q q 0 0 0 rg BT 291.49 209.10 Td (of ) Tj ET Q q 0 0 0 rg BT 302.67 209.10 Td (advanced ) Tj ET Q q 0 0 0 rg BT 343.27 209.10 Td (antenna ) Tj ET Q q 0 0 0 rg BT 377.21 209.10 Td (technologies ) Tj ET Q q 0 0 0 rg BT 430.60 209.10 Td (used ) Tj ET Q q 0 0 0 rg BT 451.78 209.10 Td (to ) Tj ET Q q 0 0 0 rg BT 462.41 209.10 Td (enable ) Tj ET Q q 0 0 0 rg BT 491.35 209.10 Td (high ) Tj ET Q q 0 0 0 rg BT 511.98 209.10 Td (performance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 197.10 Td (wireless ) Tj ET Q q 0 0 0 rg BT 138.19 197.10 Td (networking ) Tj ET Q q 0 0 0 rg BT 185.66 197.10 Td (across ) Tj ET Q q 0 0 0 rg BT 212.58 197.10 Td (a ) Tj ET Q q 0 0 0 rg BT 218.94 197.10 Td (broad ) Tj ET Q q 0 0 0 rg BT 243.63 197.10 Td (range ) Tj ET Q q 0 0 0 rg BT 267.76 197.10 Td (of ) Tj ET Q q 0 0 0 rg BT 278.02 197.10 Td (devices ) Tj ET Q q 0 0 0 rg BT 309.93 197.10 Td (and ) Tj ET Q q 0 0 0 rg BT 326.29 197.10 Td (markets, ) Tj ET Q q 0 0 0 rg BT 362.37 197.10 Td (including ) Tj ET Q q 0 0 0 rg BT 402.06 197.10 Td (connected ) Tj ET Q q 0 0 0 rg BT 444.52 197.10 Td (home, ) Tj ET Q q 0 0 0 rg BT 471.16 197.10 Td (enterprise, ) Tj ET Q q 0 0 0 rg BT 515.01 197.10 Td (automotive, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 185.10 Td (and ) Tj ET Q q 0 0 0 rg BT 120.11 185.10 Td (IoT) Tj ET Q q 0 0 0 rg BT 133.80 185.10 Td (. ) Tj ET Q q 0 0 0 rg BT 138.47 185.10 Td ( ) Tj ET Q q 0 0 0 rg BT 140.48 185.10 Td (W) Tj ET Q q 0 0 0 rg BT 149.12 185.10 Td (e ) Tj ET Q q 0 0 0 rg BT 155.73 185.10 Td (bought ) Tj ET Q q 0 0 0 rg BT 185.67 185.10 Td (the ) Tj ET Q q 0 0 0 rg BT 200.06 185.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 223.33 185.10 Td (following ) Tj ET Q q 0 0 0 rg BT 264.39 185.10 Td (a ) Tj ET Q q 0 0 0 rg BT 270.99 185.10 Td (CEO ) Tj ET Q q 0 0 0 rg BT 293.16 185.10 Td (change ) Tj ET Q q 0 0 0 rg BT 323.65 185.10 Td (and ) Tj ET Q q 0 0 0 rg BT 340.25 185.10 Td (a ) Tj ET Q q 0 0 0 rg BT 346.86 185.10 Td (new ) Tj ET Q q 0 0 0 rg BT 365.69 185.10 Td (commitment ) Tj ET Q q 0 0 0 rg BT 418.40 185.10 Td (to ) Tj ET Q q 0 0 0 rg BT 428.35 185.10 Td (move ) Tj ET Q q 0 0 0 rg BT 452.73 185.10 Td (quickly ) Tj ET Q q 0 0 0 rg BT 484.90 185.10 Td (on ) Tj ET Q q 0 0 0 rg BT 497.06 185.10 Td (not ) Tj ET Q q 0 0 0 rg BT 512.01 185.10 Td (only ) Tj ET Q q 0 0 0 rg BT 531.96 185.10 Td (product ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 173.10 Td (refresh ) Tj ET Q q 0 0 0 rg BT 134.04 173.10 Td (cycles, ) Tj ET Q q 0 0 0 rg BT 164.31 173.10 Td (but ) Tj ET Q q 0 0 0 rg BT 179.87 173.10 Td (also ) Tj ET Q q 0 0 0 rg BT 198.76 173.10 Td (on ) Tj ET Q q 0 0 0 rg BT 211.54 173.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 252.09 173.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 287.08 173.10 Td (reductions ) Tj ET Q q 0 0 0 rg BT 331.51 173.10 Td (and ) Tj ET Q q 0 0 0 rg BT 348.74 173.10 Td (a ) Tj ET Q q 0 0 0 rg BT 355.96 173.10 Td (focus ) Tj ET Q q 0 0 0 rg BT 380.40 173.10 Td (on ) Tj ET Q q 0 0 0 rg BT 393.18 173.10 Td (profitable ) Tj ET Q q 0 0 0 rg BT 434.83 173.10 Td (growth. ) Tj ET Q q 0 0 0 rg BT 468.45 173.10 Td (Unfortunately) Tj ET Q q 0 0 0 rg BT 523.89 173.10 Td (, ) Tj ET Q q 0 0 0 rg BT 529.17 173.10 Td (this ) Tj ET Q q 0 0 0 rg BT 546.40 173.10 Td (past ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 161.10 Td (quarter) Tj ET Q q 0 0 0 rg BT 131.42 161.10 Td (, ) Tj ET Q q 0 0 0 rg BT 135.80 161.10 Td (AIRG ) Tj ET Q q 0 0 0 rg BT 162.65 161.10 Td (came ) Tj ET Q q 0 0 0 rg BT 186.16 161.10 Td (under ) Tj ET Q q 0 0 0 rg BT 211.35 161.10 Td (pressure ) Tj ET Q q 0 0 0 rg BT 247.08 161.10 Td (against ) Tj ET Q q 0 0 0 rg BT 277.82 161.10 Td (the ) Tj ET Q q 0 0 0 rg BT 292.45 161.10 Td (backdrop ) Tj ET Q q 0 0 0 rg BT 332.07 161.10 Td (of ) Tj ET Q q 0 0 0 rg BT 342.82 161.10 Td (very ) Tj ET Q q 0 0 0 rg BT 363.00 161.10 Td (weak ) Tj ET Q q 0 0 0 rg BT 386.51 161.10 Td (technology ) Tj ET Q q 0 0 0 rg BT 433.36 161.10 Td (sector ) Tj ET Q q 0 0 0 rg BT 459.65 161.10 Td (performance. ) Tj ET Q q 0 0 0 rg BT 515.09 161.10 Td (Despite ) Tj ET Q q 0 0 0 rg BT 548.05 161.10 Td (this ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 149.10 Td (pressure, ) Tj ET Q q 0 0 0 rg BT 143.59 149.10 Td (the ) Tj ET Q q 0 0 0 rg BT 160.08 149.10 Td (underlying ) Tj ET Q q 0 0 0 rg BT 207.68 149.10 Td (secular ) Tj ET Q q 0 0 0 rg BT 240.26 149.10 Td (uptrend ) Tj ET Q q 0 0 0 rg BT 275.08 149.10 Td (of ) Tj ET Q q 0 0 0 rg BT 287.68 149.10 Td (increased ) Tj ET Q q 0 0 0 rg BT 329.71 149.10 Td (rollouts ) Tj ET Q q 0 0 0 rg BT 364.54 149.10 Td (of ) Tj ET Q q 0 0 0 rg BT 377.14 149.10 Td (technologies ) Tj ET Q q 0 0 0 rg BT 431.95 149.10 Td (that ) Tj ET Q q 0 0 0 rg BT 451.22 149.10 Td (enable ) Tj ET Q q 0 0 0 rg BT 481.58 149.10 Td (high-speed ) Tj ET Q q 0 0 0 rg BT 529.73 149.10 Td (wireless ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 137.10 Td (communications ) Tj ET Q q 0 0 0 rg BT 172.27 137.10 Td (is ) Tj ET Q q 0 0 0 rg BT 181.61 137.10 Td (gaining ) Tj ET Q q 0 0 0 rg BT 214.28 137.10 Td (momentum ) Tj ET Q q 0 0 0 rg BT 262.50 137.10 Td (and ) Tj ET Q q 0 0 0 rg BT 279.61 137.10 Td (plays ) Tj ET Q q 0 0 0 rg BT 303.39 137.10 Td (to ) Tj ET Q q 0 0 0 rg BT 313.84 137.10 Td (the ) Tj ET Q q 0 0 0 rg BT 328.72 137.10 Td (strengths ) Tj ET Q q 0 0 0 rg BT 367.50 137.10 Td (of ) Tj ET Q q 0 0 0 rg BT 377.92 137.10 Td (AIRG; ) Tj ET Q q 0 0 0 rg BT 407.81 137.10 Td (that ) Tj ET Q q 0 0 0 rg BT 425.47 137.10 Td (is, ) Tj ET Q q 0 0 0 rg BT 437.31 137.10 Td (increasing ) Tj ET Q q 0 0 0 rg BT 481.08 137.10 Td (speeds ) Tj ET Q q 0 0 0 rg BT 510.41 137.10 Td (require ) Tj ET Q q 0 0 0 rg BT 541.40 137.10 Td (high-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 125.10 Td (quality) Tj ET Q q 0 0 0 rg BT 130.62 125.10 Td (, ) Tj ET Q q 0 0 0 rg BT 135.62 125.10 Td (complex ) Tj ET Q q 0 0 0 rg BT 172.56 125.10 Td (antennas. ) Tj ET Q q 0 0 0 rg BT 212.54 125.10 Td ( ) Tj ET Q q 0 0 0 rg BT 215.04 125.10 Td (For ) Tj ET Q q 0 0 0 rg BT 231.43 125.10 Td (the ) Tj ET Q q 0 0 0 rg BT 246.15 125.10 Td (quarter) Tj ET Q q 0 0 0 rg BT 274.07 125.10 Td (, ) Tj ET Q q 0 0 0 rg BT 278.51 125.10 Td (AIRG ) Tj ET Q q 0 0 0 rg BT 305.46 125.10 Td (reduced ) Tj ET Q q 0 0 0 rg BT 339.60 125.10 Td (our ) Tj ET Q q 0 0 0 rg BT 355.43 125.10 Td (NA) Tj ET Q q 0 0 0 rg BT 368.59 125.10 Td (V) Tj ET Q q 0 0 0 rg BT 375.63 125.10 Td ( ) Tj ET Q q 0 0 0 rg BT 378.13 125.10 Td (by ) Tj ET Q q 0 0 0 rg BT 390.63 125.10 Td ($0.02.) Tj ET Q endstream endobj 7 0 obj <> endobj 8 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 24.60 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 749.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 749.10 Td (Emcore ) Tj ET Q q 0 0 0 rg BT 137.47 749.10 Td (Corporation ) Tj ET Q q 0 0 0 rg BT 188.66 749.10 Td (\(NASDAQ: ) Tj ET Q q 0 0 0 rg BT 239.31 749.10 Td (EMKR\) ) Tj ET Q q 0 0 0 rg BT 274.41 749.10 Td (is ) Tj ET Q q 0 0 0 rg BT 283.95 749.10 Td (a ) Tj ET Q q 0 0 0 rg BT 291.26 749.10 Td (provider ) Tj ET Q q 0 0 0 rg BT 328.01 749.10 Td (of ) Tj ET Q q 0 0 0 rg BT 339.21 749.10 Td (advanced ) Tj ET Q q 0 0 0 rg BT 379.84 749.10 Td (mixed-signal ) Tj ET Q q 0 0 0 rg BT 434.93 749.10 Td (optics ) Tj ET Q q 0 0 0 rg BT 461.69 749.10 Td (products ) Tj ET Q q 0 0 0 rg BT 499.00 749.10 Td (that ) Tj ET Q q 0 0 0 rg BT 516.86 749.10 Td (provide ) Tj ET Q q 0 0 0 rg BT 550.28 749.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 737.10 Td (foundation ) Tj ET Q q 0 0 0 rg BT 148.54 737.10 Td (for ) Tj ET Q q 0 0 0 rg BT 161.91 737.10 Td (today) Tj ET Q q 0 0 0 rg BT 186.91 737.10 Td (s ) Tj ET Q q 0 0 0 rg BT 192.51 737.10 Td (high-speed ) Tj ET Q q 0 0 0 rg BT 238.10 737.10 Td (communication ) Tj ET Q q 0 0 0 rg BT 302.03 737.10 Td (network ) Tj ET Q q 0 0 0 rg BT 336.51 737.10 Td (infrastructures ) Tj ET Q q 0 0 0 rg BT 395.98 737.10 Td (and ) Tj ET Q q 0 0 0 rg BT 412.13 737.10 Td (leading-edge ) Tj ET Q q 0 0 0 rg BT 465.48 737.10 Td (defense ) Tj ET Q q 0 0 0 rg BT 497.73 737.10 Td (systems. ) Tj ET Q q 0 0 0 rg BT 533.62 737.10 Td (EMKR ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 725.10 Td (had ) Tj ET Q q 0 0 0 rg BT 120.40 725.10 Td (a ) Tj ET Q q 0 0 0 rg BT 127.29 725.10 Td (myriad ) Tj ET Q q 0 0 0 rg BT 158.07 725.10 Td (of ) Tj ET Q q 0 0 0 rg BT 168.86 725.10 Td (recent ) Tj ET Q q 0 0 0 rg BT 195.74 725.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 229.85 725.10 Td (challenges ) Tj ET Q q 0 0 0 rg BT 274.51 725.10 Td (in ) Tj ET Q q 0 0 0 rg BT 284.74 725.10 Td (its ) Tj ET Q q 0 0 0 rg BT 296.65 725.10 Td (CA) Tj ET Q q 0 0 0 rg BT 309.43 725.10 Td (TV) Tj ET Q q 0 0 0 rg BT 322.58 725.10 Td ( ) Tj ET Q q 0 0 0 rg BT 325.04 725.10 Td (\(community ) Tj ET Q q 0 0 0 rg BT 376.38 725.10 Td (access ) Tj ET Q q 0 0 0 rg BT 404.37 725.10 Td (television, ) Tj ET Q q 0 0 0 rg BT 448.21 725.10 Td (or ) Tj ET Q q 0 0 0 rg BT 459.00 725.10 Td (cable\) ) Tj ET Q q 0 0 0 rg BT 485.88 725.10 Td (business, ) Tj ET Q q 0 0 0 rg BT 524.73 725.10 Td (including ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 713.10 Td (inventory ) Tj ET Q q 0 0 0 rg BT 143.99 713.10 Td (corrections ) Tj ET Q q 0 0 0 rg BT 190.58 713.10 Td (at ) Tj ET Q q 0 0 0 rg BT 199.97 713.10 Td (one ) Tj ET Q q 0 0 0 rg BT 216.57 713.10 Td (of ) Tj ET Q q 0 0 0 rg BT 227.07 713.10 Td (its ) Tj ET Q q 0 0 0 rg BT 238.68 713.10 Td (lar) Tj ET Q q 0 0 0 rg BT 249.05 713.10 Td (gest ) Tj ET Q q 0 0 0 rg BT 267.33 713.10 Td (customers. ) Tj ET Q q 0 0 0 rg BT 312.54 713.10 Td (Essentially) Tj ET Q q 0 0 0 rg BT 355.77 713.10 Td (, ) Tj ET Q q 0 0 0 rg BT 360.44 713.10 Td (this ) Tj ET Q q 0 0 0 rg BT 377.05 713.10 Td (customer ) Tj ET Q q 0 0 0 rg BT 415.88 713.10 Td (over) Tj ET Q q 0 0 0 rg BT 433.45 713.10 Td (-ordered ) Tj ET Q q 0 0 0 rg BT 469.48 713.10 Td (in ) Tj ET Q q 0 0 0 rg BT 479.42 713.10 Td (2017, ) Tj ET Q q 0 0 0 rg BT 504.09 713.10 Td (and ) Tj ET Q q 0 0 0 rg BT 520.70 713.10 Td (as ) Tj ET Q q 0 0 0 rg BT 531.19 713.10 Td (a ) Tj ET Q q 0 0 0 rg BT 537.80 713.10 Td (result, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 701.10 Td (had ) Tj ET Q q 0 0 0 rg BT 120.08 701.10 Td (a ) Tj ET Q q 0 0 0 rg BT 126.65 701.10 Td (dramatic ) Tj ET Q q 0 0 0 rg BT 163.77 701.10 Td (decline ) Tj ET Q q 0 0 0 rg BT 194.78 701.10 Td (in ) Tj ET Q q 0 0 0 rg BT 204.70 701.10 Td (its ) Tj ET Q q 0 0 0 rg BT 216.28 701.10 Td (ordering ) Tj ET Q q 0 0 0 rg BT 252.30 701.10 Td (pattern ) Tj ET Q q 0 0 0 rg BT 282.20 701.10 Td (in ) Tj ET Q q 0 0 0 rg BT 292.11 701.10 Td (2018. ) Tj ET Q q 0 0 0 rg BT 316.75 701.10 Td ( ) Tj ET Q q 0 0 0 rg BT 318.89 701.10 Td (It ) Tj ET Q q 0 0 0 rg BT 327.14 701.10 Td (has ) Tj ET Q q 0 0 0 rg BT 342.60 701.10 Td (been ) Tj ET Q q 0 0 0 rg BT 363.62 701.10 Td (our ) Tj ET Q q 0 0 0 rg BT 379.09 701.10 Td (view ) Tj ET Q q 0 0 0 rg BT 400.66 701.10 Td (this ) Tj ET Q q 0 0 0 rg BT 417.25 701.10 Td (inventory ) Tj ET Q q 0 0 0 rg BT 457.71 701.10 Td (correction ) Tj ET Q q 0 0 0 rg BT 500.38 701.10 Td (would ) Tj ET Q q 0 0 0 rg BT 527.52 701.10 Td (dissipate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 689.10 Td (by ) Tj ET Q q 0 0 0 rg BT 115.09 689.10 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 138.34 689.10 Td (year ) Tj ET Q q 0 0 0 rg BT 157.13 689.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 178.73 689.10 Td (fourth ) Tj ET Q q 0 0 0 rg BT 204.75 689.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 234.66 689.10 Td (\(September ) Tj ET Q q 0 0 0 rg BT 282.35 689.10 Td (30\) ) Tj ET Q q 0 0 0 rg BT 297.27 689.10 Td (and ) Tj ET Q q 0 0 0 rg BT 313.30 689.10 Td (EMKR's ) Tj ET Q q 0 0 0 rg BT 349.47 689.10 Td (visibility ) Tj ET Q q 0 0 0 rg BT 386.62 689.10 Td (to ) Tj ET Q q 0 0 0 rg BT 395.99 689.10 Td (future ) Tj ET Q q 0 0 0 rg BT 421.46 689.10 Td (revenues ) Tj ET Q q 0 0 0 rg BT 458.59 689.10 Td (and ) Tj ET Q q 0 0 0 rg BT 474.62 689.10 Td (growth ) Tj ET Q q 0 0 0 rg BT 504.54 689.10 Td (would ) Tj ET Q q 0 0 0 rg BT 531.13 689.10 Td (resume. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 677.10 Td (That ) Tj ET Q q 0 0 0 rg BT 123.98 677.10 Td (view ) Tj ET Q q 0 0 0 rg BT 145.57 677.10 Td (proved ) Tj ET Q q 0 0 0 rg BT 175.49 677.10 Td (accurate. ) Tj ET Q q 0 0 0 rg BT 212.97 677.10 Td (At ) Tj ET Q q 0 0 0 rg BT 225.12 677.10 Td (the ) Tj ET Q q 0 0 0 rg BT 239.49 677.10 Td (same ) Tj ET Q q 0 0 0 rg BT 262.19 677.10 Td (time, ) Tj ET Q q 0 0 0 rg BT 284.61 677.10 Td (EMKR's ) Tj ET Q q 0 0 0 rg BT 321.35 677.10 Td (state-of-the-art ) Tj ET Q q 0 0 0 rg BT 382.91 677.10 Td (Fiber ) Tj ET Q q 0 0 0 rg BT 406.17 677.10 Td (Optic ) Tj ET Q q 0 0 0 rg BT 430.54 677.10 Td (Gyroscope ) Tj ET Q q 0 0 0 rg BT 476.02 677.10 Td (\(FOG\) ) Tj ET Q q 0 0 0 rg BT 513.71 677.10 Td (products ) Tj ET Q q 0 0 0 rg BT 550.30 677.10 Td (are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 665.10 Td (designed ) Tj ET Q q 0 0 0 rg BT 141.92 665.10 Td (for ) Tj ET Q q 0 0 0 rg BT 156.46 665.10 Td (fast, ) Tj ET Q q 0 0 0 rg BT 176.27 665.10 Td (accurate ) Tj ET Q q 0 0 0 rg BT 212.45 665.10 Td (navigation ) Tj ET Q q 0 0 0 rg BT 257.53 665.10 Td (and ) Tj ET Q q 0 0 0 rg BT 274.85 665.10 Td (gyrocompassing, ) Tj ET Q q 0 0 0 rg BT 345.77 665.10 Td (and ) Tj ET Q q 0 0 0 rg BT 363.08 665.10 Td (low ) Tj ET Q q 0 0 0 rg BT 380.96 665.10 Td (noise, ) Tj ET Q q 0 0 0 rg BT 407.44 665.10 Td (line ) Tj ET Q q 0 0 0 rg BT 425.31 665.10 Td (of ) Tj ET Q q 0 0 0 rg BT 436.52 665.10 Td (sight ) Tj ET Q q 0 0 0 rg BT 458.84 665.10 Td (stabilization. ) Tj ET Q q 0 0 0 rg BT 513.09 665.10 Td ( ) Tj ET Q q 0 0 0 rg BT 515.76 665.10 Td (These ) Tj ET Q q 0 0 0 rg BT 542.51 665.10 Td (FOG ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 653.10 Td (products ) Tj ET Q q 0 0 0 rg BT 140.14 653.10 Td (are ) Tj ET Q q 0 0 0 rg BT 154.55 653.10 Td (critical ) Tj ET Q q 0 0 0 rg BT 184.51 653.10 Td (components ) Tj ET Q q 0 0 0 rg BT 235.04 653.10 Td (of ) Tj ET Q q 0 0 0 rg BT 245.57 653.10 Td (high-performance ) Tj ET Q q 0 0 0 rg BT 319.40 653.10 Td (drones ) Tj ET Q q 0 0 0 rg BT 348.27 653.10 Td (and ) Tj ET Q q 0 0 0 rg BT 364.91 653.10 Td (other ) Tj ET Q q 0 0 0 rg BT 387.66 653.10 Td (systems ) Tj ET Q q 0 0 0 rg BT 421.53 653.10 Td (where ) Tj ET Q q 0 0 0 rg BT 448.16 653.10 Td (highly ) Tj ET Q q 0 0 0 rg BT 475.92 653.10 Td (accurate ) Tj ET Q q 0 0 0 rg BT 511.42 653.10 Td (navigation ) Tj ET Q q 0 0 0 rg BT 555.83 653.10 Td (is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 641.10 Td (critical. ) Tj ET Q q 0 0 0 rg BT 135.05 641.10 Td (Like ) Tj ET Q q 0 0 0 rg BT 154.37 641.10 Td (AIRG ) Tj ET Q q 0 0 0 rg BT 180.10 641.10 Td (and ) Tj ET Q q 0 0 0 rg BT 195.83 641.10 Td (IOTS, ) Tj ET Q q 0 0 0 rg BT 221.84 641.10 Td (EMKR ) Tj ET Q q 0 0 0 rg BT 252.01 641.10 Td (suf) Tj ET Q q 0 0 0 rg BT 264.06 641.10 Td (fered ) Tj ET Q q 0 0 0 rg BT 285.88 641.10 Td (with ) Tj ET Q q 0 0 0 rg BT 304.94 641.10 Td (the ) Tj ET Q q 0 0 0 rg BT 318.45 641.10 Td (rest ) Tj ET Q q 0 0 0 rg BT 334.17 641.10 Td (of ) Tj ET Q q 0 0 0 rg BT 343.79 641.10 Td (the ) Tj ET Q q 0 0 0 rg BT 357.29 641.10 Td (market ) Tj ET Q q 0 0 0 rg BT 386.34 641.10 Td (and ) Tj ET Q q 0 0 0 rg BT 402.07 641.10 Td (technology ) Tj ET Q q 0 0 0 rg BT 447.79 641.10 Td (meltdown. ) Tj ET Q q 0 0 0 rg BT 491.48 641.10 Td (W) Tj ET Q q 0 0 0 rg BT 500.52 641.10 Td (ith ) Tj ET Q q 0 0 0 rg BT 512.36 641.10 Td (an ) Tj ET Q q 0 0 0 rg BT 523.08 641.10 Td (enterprise ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 629.10 Td (value ) Tj ET Q q 0 0 0 rg BT 127.72 629.10 Td (of ) Tj ET Q q 0 0 0 rg BT 138.61 629.10 Td (less ) Tj ET Q q 0 0 0 rg BT 156.17 629.10 Td (than ) Tj ET Q q 0 0 0 rg BT 175.95 629.10 Td (1x ) Tj ET Q q 0 0 0 rg BT 188.51 629.10 Td (revenues ) Tj ET Q q 0 0 0 rg BT 226.61 629.10 Td (and ) Tj ET Q q 0 0 0 rg BT 243.60 629.10 Td (with ) Tj ET Q q 0 0 0 rg BT 263.94 629.10 Td (approximately ) Tj ET Q q 0 0 0 rg BT 324.26 629.10 Td (half ) Tj ET Q q 0 0 0 rg BT 342.37 629.10 Td (the ) Tj ET Q q 0 0 0 rg BT 357.15 629.10 Td (market ) Tj ET Q q 0 0 0 rg BT 387.47 629.10 Td (capitalization ) Tj ET Q q 0 0 0 rg BT 443.90 629.10 Td (of ) Tj ET Q q 0 0 0 rg BT 454.79 629.10 Td (EMKR ) Tj ET Q q 0 0 0 rg BT 486.24 629.10 Td (in ) Tj ET Q q 0 0 0 rg BT 496.58 629.10 Td (cash, ) Tj ET Q q 0 0 0 rg BT 519.41 629.10 Td (we ) Tj ET Q q 0 0 0 rg BT 533.63 629.10 Td (believe ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 617.10 Td (the ) Tj ET Q q 0 0 0 rg BT 118.22 617.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 141.83 617.10 Td (has ) Tj ET Q q 0 0 0 rg BT 157.66 617.10 Td (a ) Tj ET Q q 0 0 0 rg BT 164.59 617.10 Td (favorable ) Tj ET Q q 0 0 0 rg BT 204.85 617.10 Td (risk-reward ) Tj ET Q q 0 0 0 rg BT 253.44 617.10 Td (profile. ) Tj ET Q q 0 0 0 rg BT 285.09 617.10 Td (For ) Tj ET Q q 0 0 0 rg BT 301.48 617.10 Td (the ) Tj ET Q q 0 0 0 rg BT 316.20 617.10 Td (quarter) Tj ET Q q 0 0 0 rg BT 344.12 617.10 Td (, ) Tj ET Q q 0 0 0 rg BT 349.12 617.10 Td (EMKR ) Tj ET Q q 0 0 0 rg BT 380.51 617.10 Td (reduced ) Tj ET Q q 0 0 0 rg BT 414.65 617.10 Td (our ) Tj ET Q q 0 0 0 rg BT 430.48 617.10 Td (NA) Tj ET Q q 0 0 0 rg BT 443.64 617.10 Td (V) Tj ET Q q 0 0 0 rg BT 450.68 617.10 Td ( ) Tj ET Q q 0 0 0 rg BT 453.18 617.10 Td (by ) Tj ET Q q 0 0 0 rg BT 465.68 617.10 Td ($0.01.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 593.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 593.10 Td (Lantronix, ) Tj ET Q q 0 0 0 rg BT 148.68 593.10 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 167.19 593.10 Td (\(NASDAQ: ) Tj ET Q q 0 0 0 rg BT 218.21 593.10 Td (L) Tj ET Q q 0 0 0 rg BT 223.40 593.10 Td (TRX\) ) Tj ET Q q 0 0 0 rg BT 249.98 593.10 Td (is ) Tj ET Q q 0 0 0 rg BT 259.89 593.10 Td (a ) Tj ET Q q 0 0 0 rg BT 267.57 593.10 Td (global ) Tj ET Q q 0 0 0 rg BT 295.81 593.10 Td (provider ) Tj ET Q q 0 0 0 rg BT 332.93 593.10 Td (of ) Tj ET Q q 0 0 0 rg BT 344.50 593.10 Td (secure ) Tj ET Q q 0 0 0 rg BT 373.29 593.10 Td (data ) Tj ET Q q 0 0 0 rg BT 393.18 593.10 Td (access ) Tj ET Q q 0 0 0 rg BT 421.96 593.10 Td (and ) Tj ET Q q 0 0 0 rg BT 439.65 593.10 Td (management ) Tj ET Q q 0 0 0 rg BT 493.98 593.10 Td (solutions ) Tj ET Q q 0 0 0 rg BT 533.34 593.10 Td (for ) Tj ET Q q 0 0 0 rg BT 548.25 593.10 Td (IoT) Tj ET Q q 0 0 0 rg BT 562.50 593.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 581.10 Td (assets. ) Tj ET Q q 0 0 0 rg BT 132.27 581.10 Td (The ) Tj ET Q q 0 0 0 rg BT 150.99 581.10 Td (IoT) Tj ET Q q 0 0 0 rg BT 165.25 581.10 Td ( ) Tj ET Q q 0 0 0 rg BT 168.42 581.10 Td (gateway ) Tj ET Q q 0 0 0 rg BT 204.91 581.10 Td (market ) Tj ET Q q 0 0 0 rg BT 235.84 581.10 Td (\(75% ) Tj ET Q q 0 0 0 rg BT 260.67 581.10 Td (of ) Tj ET Q q 0 0 0 rg BT 272.17 581.10 Td (L) Tj ET Q q 0 0 0 rg BT 277.37 581.10 Td (TRX ) Tj ET Q q 0 0 0 rg BT 300.54 581.10 Td (sales\) ) Tj ET Q q 0 0 0 rg BT 326.48 581.10 Td (is ) Tj ET Q q 0 0 0 rg BT 336.32 581.10 Td (experiencing ) Tj ET Q q 0 0 0 rg BT 391.13 581.10 Td (strong ) Tj ET Q q 0 0 0 rg BT 419.30 581.10 Td (growth ) Tj ET Q q 0 0 0 rg BT 450.80 581.10 Td (as ) Tj ET Q q 0 0 0 rg BT 462.30 581.10 Td (businesses ) Tj ET Q q 0 0 0 rg BT 507.70 581.10 Td (are ) Tj ET Q q 0 0 0 rg BT 523.08 581.10 Td (becoming ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 569.10 Td (increasingly ) Tj ET Q q 0 0 0 rg BT 154.61 569.10 Td (connected. ) Tj ET Q q 0 0 0 rg BT 199.88 569.10 Td (Following ) Tj ET Q q 0 0 0 rg BT 243.24 569.10 Td (years ) Tj ET Q q 0 0 0 rg BT 266.58 569.10 Td (of ) Tj ET Q q 0 0 0 rg BT 277.15 569.10 Td (declining ) Tj ET Q q 0 0 0 rg BT 316.60 569.10 Td (revenues ) Tj ET Q q 0 0 0 rg BT 354.37 569.10 Td (and ) Tj ET Q q 0 0 0 rg BT 371.05 569.10 Td (net ) Tj ET Q q 0 0 0 rg BT 385.50 569.10 Td (losses, ) Tj ET Q q 0 0 0 rg BT 414.13 569.10 Td (a ) Tj ET Q q 0 0 0 rg BT 420.81 569.10 Td (new ) Tj ET Q q 0 0 0 rg BT 439.71 569.10 Td (management ) Tj ET Q q 0 0 0 rg BT 493.04 569.10 Td (team ) Tj ET Q q 0 0 0 rg BT 514.71 569.10 Td (took ) Tj ET Q q 0 0 0 rg BT 534.73 569.10 Td (over ) Tj ET Q q 0 0 0 rg BT 554.74 569.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 557.10 Td (2015 ) Tj ET Q q 0 0 0 rg BT 126.28 557.10 Td (and ) Tj ET Q q 0 0 0 rg BT 143.50 557.10 Td (embarked ) Tj ET Q q 0 0 0 rg BT 185.70 557.10 Td (on ) Tj ET Q q 0 0 0 rg BT 198.48 557.10 Td (a ) Tj ET Q q 0 0 0 rg BT 205.70 557.10 Td (dramatic ) Tj ET Q q 0 0 0 rg BT 243.46 557.10 Td (turnaround ) Tj ET Q q 0 0 0 rg BT 290.12 557.10 Td (of ) Tj ET Q q 0 0 0 rg BT 301.23 557.10 Td (the ) Tj ET Q q 0 0 0 rg BT 316.22 557.10 Td (business. ) Tj ET Q q 0 0 0 rg BT 355.39 557.10 Td (In ) Tj ET Q q 0 0 0 rg BT 366.50 557.10 Td (its ) Tj ET Q q 0 0 0 rg BT 378.73 557.10 Td (most ) Tj ET Q q 0 0 0 rg BT 400.96 557.10 Td (recent ) Tj ET Q q 0 0 0 rg BT 428.16 557.10 Td (earnings ) Tj ET Q q 0 0 0 rg BT 464.82 557.10 Td (report, ) Tj ET Q q 0 0 0 rg BT 493.98 557.10 Td (L) Tj ET Q q 0 0 0 rg BT 499.17 557.10 Td (TRX ) Tj ET Q q 0 0 0 rg BT 521.95 557.10 Td (pointed ) Tj ET Q q 0 0 0 rg BT 554.72 557.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 545.10 Td (the ) Tj ET Q q 0 0 0 rg BT 119.12 545.10 Td (expectation ) Tj ET Q q 0 0 0 rg BT 168.61 545.10 Td (of ) Tj ET Q q 0 0 0 rg BT 180.35 545.10 Td (nearly ) Tj ET Q q 0 0 0 rg BT 208.73 545.10 Td (double-digit ) Tj ET Q q 0 0 0 rg BT 261.02 545.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 296.07 545.10 Td (growth ) Tj ET Q q 0 0 0 rg BT 327.80 545.10 Td (in ) Tj ET Q q 0 0 0 rg BT 338.98 545.10 Td (the ) Tj ET Q q 0 0 0 rg BT 354.60 545.10 Td (upcoming ) Tj ET Q q 0 0 0 rg BT 398.00 545.10 Td (quarters. ) Tj ET Q q 0 0 0 rg BT 435.87 545.10 Td (W) Tj ET Q q 0 0 0 rg BT 444.50 545.10 Td (e ) Tj ET Q q 0 0 0 rg BT 452.35 545.10 Td (participated ) Tj ET Q q 0 0 0 rg BT 502.95 545.10 Td (in ) Tj ET Q q 0 0 0 rg BT 514.13 545.10 Td (a ) Tj ET Q q 0 0 0 rg BT 521.97 545.10 Td (secondary ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 533.10 Td (of) Tj ET Q q 0 0 0 rg BT 111.65 533.10 Td (fering ) Tj ET Q q 0 0 0 rg BT 138.25 533.10 Td (in ) Tj ET Q q 0 0 0 rg BT 148.76 533.10 Td (Q3 ) Tj ET Q q 0 0 0 rg BT 163.71 533.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 186.44 533.10 Td (that ) Tj ET Q q 0 0 0 rg BT 204.16 533.10 Td (strengthened ) Tj ET Q q 0 0 0 rg BT 257.99 533.10 Td (L) Tj ET Q q 0 0 0 rg BT 263.18 533.10 Td (TRX) Tj ET Q q 0 0 0 rg BT 285.96 533.10 Td (s ) Tj ET Q q 0 0 0 rg BT 292.58 533.10 Td (balance ) Tj ET Q q 0 0 0 rg BT 325.84 533.10 Td (sheet ) Tj ET Q q 0 0 0 rg BT 349.11 533.10 Td (and ) Tj ET Q q 0 0 0 rg BT 366.28 533.10 Td (gave ) Tj ET Q q 0 0 0 rg BT 387.88 533.10 Td (it ) Tj ET Q q 0 0 0 rg BT 396.17 533.10 Td (firepower ) Tj ET Q q 0 0 0 rg BT 437.76 533.10 Td (to ) Tj ET Q q 0 0 0 rg BT 448.27 533.10 Td (make ) Tj ET Q q 0 0 0 rg BT 472.66 533.10 Td (strategic ) Tj ET Q q 0 0 0 rg BT 509.26 533.10 Td (and ) Tj ET Q q 0 0 0 rg BT 526.42 533.10 Td (accretive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 521.10 Td (acquisitions. ) Tj ET Q q 0 0 0 rg BT 156.91 521.10 Td ( ) Tj ET Q q 0 0 0 rg BT 160.05 521.10 Td (Unfortunately) Tj ET Q q 0 0 0 rg BT 215.50 521.10 Td (, ) Tj ET Q q 0 0 0 rg BT 221.13 521.10 Td (like ) Tj ET Q q 0 0 0 rg BT 239.27 521.10 Td (almost ) Tj ET Q q 0 0 0 rg BT 269.07 521.10 Td (every ) Tj ET Q q 0 0 0 rg BT 294.42 521.10 Td (other ) Tj ET Q q 0 0 0 rg BT 318.10 521.10 Td (technology ) Tj ET Q q 0 0 0 rg BT 365.67 521.10 Td (stock, ) Tj ET Q q 0 0 0 rg BT 392.42 521.10 Td (and ) Tj ET Q q 0 0 0 rg BT 410.00 521.10 Td (despite ) Tj ET Q q 0 0 0 rg BT 441.46 521.10 Td (no ) Tj ET Q q 0 0 0 rg BT 454.60 521.10 Td (negative ) Tj ET Q q 0 0 0 rg BT 491.61 521.10 Td (company ) Tj ET Q q 0 0 0 rg BT 531.41 521.10 Td (specific ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 509.10 Td (news, ) Tj ET Q q 0 0 0 rg BT 129.05 509.10 Td (the ) Tj ET Q q 0 0 0 rg BT 143.77 509.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 167.38 509.10 Td (sold ) Tj ET Q q 0 0 0 rg BT 186.55 509.10 Td (of) Tj ET Q q 0 0 0 rg BT 194.70 509.10 Td (f ) Tj ET Q q 0 0 0 rg BT 200.53 509.10 Td (in ) Tj ET Q q 0 0 0 rg BT 210.80 509.10 Td (Q4 ) Tj ET Q q 0 0 0 rg BT 225.53 509.10 Td (2018. ) Tj ET Q q 0 0 0 rg BT 250.53 509.10 Td (For ) Tj ET Q q 0 0 0 rg BT 266.92 509.10 Td (the ) Tj ET Q q 0 0 0 rg BT 281.63 509.10 Td (quarter) Tj ET Q q 0 0 0 rg BT 309.55 509.10 Td (, ) Tj ET Q q 0 0 0 rg BT 314.55 509.10 Td (L) Tj ET Q q 0 0 0 rg BT 319.74 509.10 Td (TRX ) Tj ET Q q 0 0 0 rg BT 342.24 509.10 Td (reduced ) Tj ET Q q 0 0 0 rg BT 376.39 509.10 Td (our ) Tj ET Q q 0 0 0 rg BT 392.22 509.10 Td (NA) Tj ET Q q 0 0 0 rg BT 405.37 509.10 Td (V) Tj ET Q q 0 0 0 rg BT 412.41 509.10 Td ( ) Tj ET Q q 0 0 0 rg BT 414.91 509.10 Td (by ) Tj ET Q q 0 0 0 rg BT 427.41 509.10 Td ($0.01.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 485.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 485.10 Td (Synacor) Tj ET Q q 0 0 0 rg BT 135.87 485.10 Td (, ) Tj ET Q q 0 0 0 rg BT 143.37 485.10 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 163.64 485.10 Td (\(NASDAQ: ) Tj ET Q q 0 0 0 rg BT 216.42 485.10 Td (SYNC\) ) Tj ET Q q 0 0 0 rg BT 251.43 485.10 Td (is ) Tj ET Q q 0 0 0 rg BT 263.10 485.10 Td (a ) Tj ET Q q 0 0 0 rg BT 272.54 485.10 Td (holding ) Tj ET Q q 0 0 0 rg BT 308.10 485.10 Td (we ) Tj ET Q q 0 0 0 rg BT 324.76 485.10 Td (have ) Tj ET Q q 0 0 0 rg BT 348.64 485.10 Td (discussed ) Tj ET Q q 0 0 0 rg BT 391.97 485.10 Td (extensively ) Tj ET Q q 0 0 0 rg BT 442.51 485.10 Td (in ) Tj ET Q q 0 0 0 rg BT 455.29 485.10 Td (our ) Tj ET Q q 0 0 0 rg BT 473.62 485.10 Td (communications ) Tj ET Q q 0 0 0 rg BT 544.72 485.10 Td (with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 473.10 Td (shareholders. ) Tj ET Q q 0 0 0 rg BT 159.39 473.10 Td (The ) Tj ET Q q 0 0 0 rg BT 178.01 473.10 Td (issue ) Tj ET Q q 0 0 0 rg BT 201.09 473.10 Td (at ) Tj ET Q q 0 0 0 rg BT 211.38 473.10 Td (SYNC ) Tj ET Q q 0 0 0 rg BT 241.13 473.10 Td (isn) Tj ET Q q 0 0 0 rg BT 255.95 473.10 Td (t ) Tj ET Q q 0 0 0 rg BT 261.81 473.10 Td (fundamental ) Tj ET Q q 0 0 0 rg BT 314.86 473.10 Td (problems ) Tj ET Q q 0 0 0 rg BT 355.16 473.10 Td (with ) Tj ET Q q 0 0 0 rg BT 376.01 473.10 Td (its ) Tj ET Q q 0 0 0 rg BT 388.54 473.10 Td (overall ) Tj ET Q q 0 0 0 rg BT 419.38 473.10 Td (business; ) Tj ET Q q 0 0 0 rg BT 459.12 473.10 Td (it ) Tj ET Q q 0 0 0 rg BT 467.76 473.10 Td (is ) Tj ET Q q 0 0 0 rg BT 477.50 473.10 Td (rather ) Tj ET Q q 0 0 0 rg BT 503.89 473.10 Td (a ) Tj ET Q q 0 0 0 rg BT 511.41 473.10 Td (management ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 461.10 Td (credibility ) Tj ET Q q 0 0 0 rg BT 148.47 461.10 Td (issue ) Tj ET Q q 0 0 0 rg BT 172.34 461.10 Td (resulting ) Tj ET Q q 0 0 0 rg BT 211.20 461.10 Td (from ) Tj ET Q q 0 0 0 rg BT 234.51 461.10 Td (the ) Tj ET Q q 0 0 0 rg BT 250.59 461.10 Td (company ) Tj ET Q q 0 0 0 rg BT 291.12 461.10 Td (historically ) Tj ET Q q 0 0 0 rg BT 339.98 461.10 Td (and ) Tj ET Q q 0 0 0 rg BT 358.29 461.10 Td (consistently ) Tj ET Q q 0 0 0 rg BT 409.93 461.10 Td (over) Tj ET Q q 0 0 0 rg BT 427.50 461.10 Td (-promising ) Tj ET Q q 0 0 0 rg BT 475.25 461.10 Td (and ) Tj ET Q q 0 0 0 rg BT 493.56 461.10 Td (under) Tj ET Q q 0 0 0 rg BT 516.13 461.10 Td (-delivering. ) Tj ET Q q 0 0 0 rg BT 565.00 461.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 449.10 Td (Approximately ) Tj ET Q q 0 0 0 rg BT 167.84 449.10 Td (40% ) Tj ET Q q 0 0 0 rg BT 189.98 449.10 Td (of ) Tj ET Q q 0 0 0 rg BT 202.11 449.10 Td (SYNC's ) Tj ET Q q 0 0 0 rg BT 238.28 449.10 Td (revenues ) Tj ET Q q 0 0 0 rg BT 277.62 449.10 Td (are ) Tj ET Q q 0 0 0 rg BT 293.63 449.10 Td (recurring ) Tj ET Q q 0 0 0 rg BT 334.08 449.10 Td (and ) Tj ET Q q 0 0 0 rg BT 352.32 449.10 Td (fee-based ) Tj ET Q q 0 0 0 rg BT 394.42 449.10 Td (from ) Tj ET Q q 0 0 0 rg BT 417.67 449.10 Td (its ) Tj ET Q q 0 0 0 rg BT 430.92 449.10 Td (email ) Tj ET Q q 0 0 0 rg BT 456.93 449.10 Td (and ) Tj ET Q q 0 0 0 rg BT 475.17 449.10 Td (Cloud ) Tj ET Q q 0 0 0 rg BT 503.42 449.10 Td (ID ) Tj ET Q q 0 0 0 rg BT 517.77 449.10 Td (businesses. ) Tj ET Q q 0 0 0 rg BT 565.00 449.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 437.10 Td (Investors ) Tj ET Q q 0 0 0 rg BT 143.26 437.10 Td (typically ) Tj ET Q q 0 0 0 rg BT 181.36 437.10 Td (pay ) Tj ET Q q 0 0 0 rg BT 198.90 437.10 Td (a ) Tj ET Q q 0 0 0 rg BT 206.45 437.10 Td (minimum ) Tj ET Q q 0 0 0 rg BT 248.44 437.10 Td (of ) Tj ET Q q 0 0 0 rg BT 259.88 437.10 Td (1x ) Tj ET Q q 0 0 0 rg BT 272.98 437.10 Td (recurring ) Tj ET Q q 0 0 0 rg BT 312.73 437.10 Td (revenues, ) Tj ET Q q 0 0 0 rg BT 353.87 437.10 Td (and ) Tj ET Q q 0 0 0 rg BT 371.42 437.10 Td (in ) Tj ET Q q 0 0 0 rg BT 382.30 437.10 Td (many ) Tj ET Q q 0 0 0 rg BT 407.62 437.10 Td (cases, ) Tj ET Q q 0 0 0 rg BT 434.32 437.10 Td (significantly ) Tj ET Q q 0 0 0 rg BT 487.42 437.10 Td (higher ) Tj ET Q q 0 0 0 rg BT 516.07 437.10 Td (multiples ) Tj ET Q q 0 0 0 rg BT 556.39 437.10 Td (if ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 425.10 Td (such ) Tj ET Q q 0 0 0 rg BT 124.57 425.10 Td (revenues ) Tj ET Q q 0 0 0 rg BT 162.85 425.10 Td (are ) Tj ET Q q 0 0 0 rg BT 177.80 425.10 Td (coupled ) Tj ET Q q 0 0 0 rg BT 212.20 425.10 Td (with ) Tj ET Q q 0 0 0 rg BT 232.72 425.10 Td (high ) Tj ET Q q 0 0 0 rg BT 253.24 425.10 Td (mar) Tj ET Q q 0 0 0 rg BT 268.60 425.10 Td (gins ) Tj ET Q q 0 0 0 rg BT 288.01 425.10 Td (and ) Tj ET Q q 0 0 0 rg BT 305.19 425.10 Td (growth ) Tj ET Q q 0 0 0 rg BT 336.27 425.10 Td (rates. ) Tj ET Q q 0 0 0 rg BT 360.38 425.10 Td (SYNC's ) Tj ET Q q 0 0 0 rg BT 395.49 425.10 Td (management ) Tj ET Q q 0 0 0 rg BT 449.33 425.10 Td (team ) Tj ET Q q 0 0 0 rg BT 471.50 425.10 Td (has ) Tj ET Q q 0 0 0 rg BT 487.57 425.10 Td (made ) Tj ET Q q 0 0 0 rg BT 511.97 425.10 Td (considerable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 413.10 Td (strides ) Tj ET Q q 0 0 0 rg BT 132.43 413.10 Td (in ) Tj ET Q q 0 0 0 rg BT 143.02 413.10 Td (improving ) Tj ET Q q 0 0 0 rg BT 187.51 413.10 Td (its ) Tj ET Q q 0 0 0 rg BT 199.78 413.10 Td (business. ) Tj ET Q q 0 0 0 rg BT 238.99 413.10 Td (For ) Tj ET Q q 0 0 0 rg BT 255.70 413.10 Td (instance, ) Tj ET Q q 0 0 0 rg BT 293.78 413.10 Td (EBITDA) Tj ET Q q 0 0 0 rg BT 329.89 413.10 Td ( ) Tj ET Q q 0 0 0 rg BT 332.71 413.10 Td (is ) Tj ET Q q 0 0 0 rg BT 342.19 413.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 380.55 413.10 Td (to ) Tj ET Q q 0 0 0 rg BT 391.14 413.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 426.72 413.10 Td (from ) Tj ET Q q 0 0 0 rg BT 448.97 413.10 Td ($2.3 ) Tj ET Q q 0 0 0 rg BT 469.29 413.10 Td (million ) Tj ET Q q 0 0 0 rg BT 501.00 413.10 Td (in ) Tj ET Q q 0 0 0 rg BT 511.60 413.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 534.42 413.10 Td (to ) Tj ET Q q 0 0 0 rg BT 545.02 413.10 Td ($7.7 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 401.10 Td (million ) Tj ET Q q 0 0 0 rg BT 134.41 401.10 Td (in ) Tj ET Q q 0 0 0 rg BT 144.21 401.10 Td (2018. ) Tj ET Q q 0 0 0 rg BT 168.72 401.10 Td ( ) Tj ET Q q 0 0 0 rg BT 170.74 401.10 Td (Unfortunately) Tj ET Q q 0 0 0 rg BT 226.19 401.10 Td (, ) Tj ET Q q 0 0 0 rg BT 230.70 401.10 Td (last ) Tj ET Q q 0 0 0 rg BT 246.16 401.10 Td (August, ) Tj ET Q q 0 0 0 rg BT 279.13 401.10 Td (A) Tj ET Q q 0 0 0 rg BT 285.24 401.10 Td (T&T) Tj ET Q q 0 0 0 rg BT 305.06 401.10 Td ( ) Tj ET Q q 0 0 0 rg BT 307.07 401.10 Td (\(SYNC's ) Tj ET Q q 0 0 0 rg BT 344.79 401.10 Td (lar) Tj ET Q q 0 0 0 rg BT 355.16 401.10 Td (gest ) Tj ET Q q 0 0 0 rg BT 373.28 401.10 Td (individual ) Tj ET Q q 0 0 0 rg BT 415.85 401.10 Td (customer\), ) Tj ET Q q 0 0 0 rg BT 460.36 401.10 Td (delivered ) Tj ET Q q 0 0 0 rg BT 499.58 401.10 Td (notice ) Tj ET Q q 0 0 0 rg BT 526.03 401.10 Td (to ) Tj ET Q q 0 0 0 rg BT 535.82 401.10 Td (SYNC ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 389.10 Td (that ) Tj ET Q q 0 0 0 rg BT 120.86 389.10 Td (it ) Tj ET Q q 0 0 0 rg BT 128.79 389.10 Td (would ) Tj ET Q q 0 0 0 rg BT 156.15 389.10 Td (not ) Tj ET Q q 0 0 0 rg BT 171.30 389.10 Td (automatically ) Tj ET Q q 0 0 0 rg BT 228.09 389.10 Td (renew ) Tj ET Q q 0 0 0 rg BT 254.89 389.10 Td (an ) Tj ET Q q 0 0 0 rg BT 266.69 389.10 Td (expiring ) Tj ET Q q 0 0 0 rg BT 302.38 389.10 Td (contract ) Tj ET Q q 0 0 0 rg BT 336.95 389.10 Td (and ) Tj ET Q q 0 0 0 rg BT 353.76 389.10 Td (sought ) Tj ET Q q 0 0 0 rg BT 382.80 389.10 Td (to ) Tj ET Q q 0 0 0 rg BT 392.94 389.10 Td (initiate ) Tj ET Q q 0 0 0 rg BT 423.08 389.10 Td (renewal ) Tj ET Q q 0 0 0 rg BT 457.09 389.10 Td (negotiations ) Tj ET Q q 0 0 0 rg BT 508.34 389.10 Td (on ) Tj ET Q q 0 0 0 rg BT 520.71 389.10 Td (a ) Tj ET Q q 0 0 0 rg BT 527.51 389.10 Td (potential ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 377.10 Td (new ) Tj ET Q q 0 0 0 rg BT 123.62 377.10 Td (definitive ) Tj ET Q q 0 0 0 rg BT 165.40 377.10 Td (agreement. ) Tj ET Q q 0 0 0 rg BT 212.75 377.10 Td (While ) Tj ET Q q 0 0 0 rg BT 240.64 377.10 Td (it ) Tj ET Q q 0 0 0 rg BT 249.66 377.10 Td (is ) Tj ET Q q 0 0 0 rg BT 259.79 377.10 Td (not ) Tj ET Q q 0 0 0 rg BT 276.03 377.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 306.69 377.10 Td (how ) Tj ET Q q 0 0 0 rg BT 327.37 377.10 Td (this ) Tj ET Q q 0 0 0 rg BT 345.28 377.10 Td (will ) Tj ET Q q 0 0 0 rg BT 364.29 377.10 Td (turn ) Tj ET Q q 0 0 0 rg BT 383.86 377.10 Td (out, ) Tj ET Q q 0 0 0 rg BT 402.60 377.10 Td (investors ) Tj ET Q q 0 0 0 rg BT 442.17 377.10 Td (viewed ) Tj ET Q q 0 0 0 rg BT 474.50 377.10 Td (this ) Tj ET Q q 0 0 0 rg BT 492.41 377.10 Td (announcement ) Tj ET Q q 0 0 0 rg BT 554.18 377.10 Td (as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 365.10 Td (negative, ) Tj ET Q q 0 0 0 rg BT 142.67 365.10 Td (with ) Tj ET Q q 0 0 0 rg BT 163.24 365.10 Td (many ) Tj ET Q q 0 0 0 rg BT 188.25 365.10 Td (assuming ) Tj ET Q q 0 0 0 rg BT 228.82 365.10 Td (SYNC ) Tj ET Q q 0 0 0 rg BT 258.29 365.10 Td (would ) Tj ET Q q 0 0 0 rg BT 286.08 365.10 Td (lose ) Tj ET Q q 0 0 0 rg BT 304.98 365.10 Td (the ) Tj ET Q q 0 0 0 rg BT 319.37 365.10 Td (A) Tj ET Q q 0 0 0 rg BT 325.49 365.10 Td (T&T) Tj ET Q q 0 0 0 rg BT 345.30 365.10 Td ( ) Tj ET Q q 0 0 0 rg BT 348.09 365.10 Td (business ) Tj ET Q q 0 0 0 rg BT 384.78 365.10 Td (in ) Tj ET Q q 0 0 0 rg BT 395.35 365.10 Td (its ) Tj ET Q q 0 0 0 rg BT 407.59 365.10 Td (entirety) Tj ET Q q 0 0 0 rg BT 437.48 365.10 Td (. ) Tj ET Q q 0 0 0 rg BT 442.78 365.10 Td ( ) Tj ET Q q 0 0 0 rg BT 444.95 365.10 Td (As ) Tj ET Q q 0 0 0 rg BT 458.86 365.10 Td (such, ) Tj ET Q q 0 0 0 rg BT 482.48 365.10 Td (the ) Tj ET Q q 0 0 0 rg BT 497.49 365.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 521.39 365.10 Td (has ) Tj ET Q q 0 0 0 rg BT 537.52 365.10 Td (traded ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 353.10 Td (of) Tj ET Q q 0 0 0 rg BT 111.65 353.10 Td (f ) Tj ET Q q 0 0 0 rg BT 117.39 353.10 Td (38% ) Tj ET Q q 0 0 0 rg BT 138.13 353.10 Td (following ) Tj ET Q q 0 0 0 rg BT 179.43 353.10 Td (the ) Tj ET Q q 0 0 0 rg BT 194.05 353.10 Td (announcement. ) Tj ET Q q 0 0 0 rg BT 257.27 353.10 Td (Going ) Tj ET Q q 0 0 0 rg BT 284.68 353.10 Td (forward, ) Tj ET Q q 0 0 0 rg BT 321.24 353.10 Td (if ) Tj ET Q q 0 0 0 rg BT 329.76 353.10 Td (SYNC ) Tj ET Q q 0 0 0 rg BT 358.84 353.10 Td (can ) Tj ET Q q 0 0 0 rg BT 375.13 353.10 Td (resolve ) Tj ET Q q 0 0 0 rg BT 406.42 353.10 Td (the ) Tj ET Q q 0 0 0 rg BT 420.51 353.10 Td (A) Tj ET Q q 0 0 0 rg BT 426.63 353.10 Td (T&T) Tj ET Q q 0 0 0 rg BT 446.44 353.10 Td ( ) Tj ET Q q 0 0 0 rg BT 448.85 353.10 Td (contract ) Tj ET Q q 0 0 0 rg BT 483.46 353.10 Td (renewal ) Tj ET Q q 0 0 0 rg BT 517.52 353.10 Td (uncertainty ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 341.10 Td (and ) Tj ET Q q 0 0 0 rg BT 120.40 341.10 Td (execute ) Tj ET Q q 0 0 0 rg BT 153.40 341.10 Td (on ) Tj ET Q q 0 0 0 rg BT 165.86 341.10 Td (its ) Tj ET Q q 0 0 0 rg BT 177.77 341.10 Td (business, ) Tj ET Q q 0 0 0 rg BT 216.63 341.10 Td (we ) Tj ET Q q 0 0 0 rg BT 230.75 341.10 Td (think ) Tj ET Q q 0 0 0 rg BT 253.77 341.10 Td (the ) Tj ET Q q 0 0 0 rg BT 268.45 341.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 292.02 341.10 Td (has ) Tj ET Q q 0 0 0 rg BT 307.82 341.10 Td (meaningful ) Tj ET Q q 0 0 0 rg BT 355.82 341.10 Td (upside. ) Tj ET Q q 0 0 0 rg BT 386.89 341.10 Td (For ) Tj ET Q q 0 0 0 rg BT 403.25 341.10 Td (the ) Tj ET Q q 0 0 0 rg BT 417.93 341.10 Td (quarter) Tj ET Q q 0 0 0 rg BT 445.84 341.10 Td (, ) Tj ET Q q 0 0 0 rg BT 450.81 341.10 Td (SYNC ) Tj ET Q q 0 0 0 rg BT 479.95 341.10 Td (reduced ) Tj ET Q q 0 0 0 rg BT 514.05 341.10 Td (our ) Tj ET Q q 0 0 0 rg BT 529.85 341.10 Td (NA) Tj ET Q q 0 0 0 rg BT 543.00 341.10 Td (V) Tj ET Q q 0 0 0 rg BT 550.04 341.10 Td ( ) Tj ET Q q 0 0 0 rg BT 552.51 341.10 Td (by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 329.10 Td ($0.01.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 305.10 Td (New ) Tj ET Q q 0 0 0 rg BT 70.88 305.10 Td (position) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 281.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 281.10 Td (Intermolecular) Tj ET Q q 0 0 0 rg BT 161.96 281.10 Td (, ) Tj ET Q q 0 0 0 rg BT 166.73 281.10 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 184.28 281.10 Td (\(NASDAQ: ) Tj ET Q q 0 0 0 rg BT 234.33 281.10 Td (IMI\) ) Tj ET Q q 0 0 0 rg BT 255.49 281.10 Td (provides ) Tj ET Q q 0 0 0 rg BT 292.20 281.10 Td (customers ) Tj ET Q q 0 0 0 rg BT 335.02 281.10 Td (with ) Tj ET Q q 0 0 0 rg BT 355.08 281.10 Td (a ) Tj ET Q q 0 0 0 rg BT 361.79 281.10 Td (platform ) Tj ET Q q 0 0 0 rg BT 398.50 281.10 Td (and ) Tj ET Q q 0 0 0 rg BT 415.21 281.10 Td (multi-disciplinary ) Tj ET Q q 0 0 0 rg BT 489.14 281.10 Td (development ) Tj ET Q q 0 0 0 rg BT 543.07 281.10 Td (team ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 269.10 Td (for ) Tj ET Q q 0 0 0 rg BT 119.10 269.10 Td (the ) Tj ET Q q 0 0 0 rg BT 135.25 269.10 Td (research ) Tj ET Q q 0 0 0 rg BT 172.50 269.10 Td (and ) Tj ET Q q 0 0 0 rg BT 190.88 269.10 Td (development ) Tj ET Q q 0 0 0 rg BT 246.47 269.10 Td (of ) Tj ET Q q 0 0 0 rg BT 258.74 269.10 Td (advanced ) Tj ET Q q 0 0 0 rg BT 300.43 269.10 Td (materials ) Tj ET Q q 0 0 0 rg BT 341.02 269.10 Td (in ) Tj ET Q q 0 0 0 rg BT 352.73 269.10 Td (the ) Tj ET Q q 0 0 0 rg BT 368.89 269.10 Td (semiconductor) Tj ET Q q 0 0 0 rg BT 427.36 269.10 Td (, ) Tj ET Q q 0 0 0 rg BT 433.80 269.10 Td (display) Tj ET Q q 0 0 0 rg BT 462.04 269.10 Td (, ) Tj ET Q q 0 0 0 rg BT 468.48 269.10 Td (and ) Tj ET Q q 0 0 0 rg BT 486.85 269.10 Td (glass ) Tj ET Q q 0 0 0 rg BT 510.79 269.10 Td (and ) Tj ET Q q 0 0 0 rg BT 529.17 269.10 Td (coatings ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 257.10 Td (industries. ) Tj ET Q q 0 0 0 rg BT 146.58 257.10 Td (Coincident ) Tj ET Q q 0 0 0 rg BT 192.15 257.10 Td (with ) Tj ET Q q 0 0 0 rg BT 211.62 257.10 Td (the ) Tj ET Q q 0 0 0 rg BT 225.53 257.10 Td (downturn ) Tj ET Q q 0 0 0 rg BT 265.55 257.10 Td (of ) Tj ET Q q 0 0 0 rg BT 275.57 257.10 Td (the ) Tj ET Q q 0 0 0 rg BT 289.48 257.10 Td (semiconductor ) Tj ET Q q 0 0 0 rg BT 350.04 257.10 Td (sector) Tj ET Q q 0 0 0 rg BT 373.52 257.10 Td (, ) Tj ET Q q 0 0 0 rg BT 377.71 257.10 Td (we ) Tj ET Q q 0 0 0 rg BT 391.06 257.10 Td (purchased ) Tj ET Q q 0 0 0 rg BT 433.29 257.10 Td (approximately ) Tj ET Q q 0 0 0 rg BT 492.74 257.10 Td (1.4 ) Tj ET Q q 0 0 0 rg BT 506.93 257.10 Td (million ) Tj ET Q q 0 0 0 rg BT 537.51 257.10 Td (shares ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 245.10 Td (at ) Tj ET Q q 0 0 0 rg BT 112.76 245.10 Td (an ) Tj ET Q q 0 0 0 rg BT 124.24 245.10 Td (average ) Tj ET Q q 0 0 0 rg BT 157.36 245.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 175.51 245.10 Td (of ) Tj ET Q q 0 0 0 rg BT 185.88 245.10 Td ($0.94. ) Tj ET Q q 0 0 0 rg BT 212.92 245.10 Td ( ) Tj ET Q q 0 0 0 rg BT 214.51 245.10 Td (At ) Tj ET Q q 0 0 0 rg BT 226.55 245.10 Td (that ) Tj ET Q q 0 0 0 rg BT 243.58 245.10 Td (valuation, ) Tj ET Q q 0 0 0 rg BT 285.33 245.10 Td (the ) Tj ET Q q 0 0 0 rg BT 299.59 245.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 322.74 245.10 Td (was ) Tj ET Q q 0 0 0 rg BT 340.33 245.10 Td (trading ) Tj ET Q q 0 0 0 rg BT 370.70 245.10 Td (at ) Tj ET Q q 0 0 0 rg BT 379.95 245.10 Td (approximately ) Tj ET Q q 0 0 0 rg BT 439.75 245.10 Td (2x ) Tj ET Q q 0 0 0 rg BT 451.79 245.10 Td (the ) Tj ET Q q 0 0 0 rg BT 466.05 245.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 485.86 245.10 Td (on ) Tj ET Q q 0 0 0 rg BT 497.90 245.10 Td (its ) Tj ET Q q 0 0 0 rg BT 509.39 245.10 Td (balance ) Tj ET Q q 0 0 0 rg BT 541.96 245.10 Td (sheet ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 233.10 Td (and ) Tj ET Q q 0 0 0 rg BT 120.25 233.10 Td (an ) Tj ET Q q 0 0 0 rg BT 132.00 233.10 Td (enterprise ) Tj ET Q q 0 0 0 rg BT 173.74 233.10 Td (value ) Tj ET Q q 0 0 0 rg BT 197.71 233.10 Td (of ) Tj ET Q q 0 0 0 rg BT 208.35 233.10 Td (0.67x ) Tj ET Q q 0 0 0 rg BT 233.17 233.10 Td (revenues. ) Tj ET Q q 0 0 0 rg BT 273.52 233.10 Td ( ) Tj ET Q q 0 0 0 rg BT 275.83 233.10 Td (IMI ) Tj ET Q q 0 0 0 rg BT 293.70 233.10 Td (announced ) Tj ET Q q 0 0 0 rg BT 339.33 233.10 Td (a ) Tj ET Q q 0 0 0 rg BT 346.08 233.10 Td (slowdown ) Tj ET Q q 0 0 0 rg BT 389.50 233.10 Td (in ) Tj ET Q q 0 0 0 rg BT 399.60 233.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 433.55 233.10 Td (for ) Tj ET Q q 0 0 0 rg BT 447.53 233.10 Td (Q4 ) Tj ET Q q 0 0 0 rg BT 462.06 233.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 484.38 233.10 Td (due ) Tj ET Q q 0 0 0 rg BT 501.13 233.10 Td (to ) Tj ET Q q 0 0 0 rg BT 511.22 233.10 Td (the ) Tj ET Q q 0 0 0 rg BT 525.75 233.10 Td (timing ) Tj ET Q q 0 0 0 rg BT 554.18 233.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 221.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 133.25 221.10 Td (program ) Tj ET Q q 0 0 0 rg BT 169.68 221.10 Td (completions ) Tj ET Q q 0 0 0 rg BT 221.11 221.10 Td (as ) Tj ET Q q 0 0 0 rg BT 231.99 221.10 Td (well ) Tj ET Q q 0 0 0 rg BT 251.75 221.10 Td (as ) Tj ET Q q 0 0 0 rg BT 262.63 221.10 Td (a ) Tj ET Q q 0 0 0 rg BT 269.62 221.10 Td (temporary ) Tj ET Q q 0 0 0 rg BT 313.26 221.10 Td (delay ) Tj ET Q q 0 0 0 rg BT 337.46 221.10 Td (in ) Tj ET Q q 0 0 0 rg BT 347.79 221.10 Td (the ) Tj ET Q q 0 0 0 rg BT 362.56 221.10 Td (scheduled ) Tj ET Q q 0 0 0 rg BT 405.09 221.10 Td (commencement ) Tj ET Q q 0 0 0 rg BT 470.95 221.10 Td (of ) Tj ET Q q 0 0 0 rg BT 481.83 221.10 Td (a ) Tj ET Q q 0 0 0 rg BT 488.81 221.10 Td (new ) Tj ET Q q 0 0 0 rg BT 508.02 221.10 Td (program. ) Tj ET Q q 0 0 0 rg BT 546.95 221.10 Td (IMI ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 209.10 Td (also ) Tj ET Q q 0 0 0 rg BT 122.61 209.10 Td (announced ) Tj ET Q q 0 0 0 rg BT 168.92 209.10 Td (a ) Tj ET Q q 0 0 0 rg BT 176.35 209.10 Td (new ) Tj ET Q q 0 0 0 rg BT 196.01 209.10 Td (program ) Tj ET Q q 0 0 0 rg BT 232.88 209.10 Td (with ) Tj ET Q q 0 0 0 rg BT 253.66 209.10 Td (a ) Tj ET Q q 0 0 0 rg BT 261.10 209.10 Td (leading ) Tj ET Q q 0 0 0 rg BT 293.53 209.10 Td (semiconductor ) Tj ET Q q 0 0 0 rg BT 355.40 209.10 Td (manufacturer) Tj ET Q q 0 0 0 rg BT 408.14 209.10 Td (. ) Tj ET Q q 0 0 0 rg BT 413.64 209.10 Td ( ) Tj ET Q q 0 0 0 rg BT 416.42 209.10 Td (W) Tj ET Q q 0 0 0 rg BT 425.06 209.10 Td (e ) Tj ET Q q 0 0 0 rg BT 432.50 209.10 Td (believe ) Tj ET Q q 0 0 0 rg BT 464.36 209.10 Td (this ) Tj ET Q q 0 0 0 rg BT 481.81 209.10 Td (new ) Tj ET Q q 0 0 0 rg BT 501.47 209.10 Td (relationship, ) Tj ET Q q 0 0 0 rg BT 554.18 209.10 Td (as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 197.10 Td (well ) Tj ET Q q 0 0 0 rg BT 123.31 197.10 Td (as ) Tj ET Q q 0 0 0 rg BT 134.23 197.10 Td (improved ) Tj ET Q q 0 0 0 rg BT 175.14 197.10 Td (operational ) Tj ET Q q 0 0 0 rg BT 222.71 197.10 Td (ef) Tj ET Q q 0 0 0 rg BT 230.30 197.10 Td (ficiencies, ) Tj ET Q q 0 0 0 rg BT 273.70 197.10 Td (will ) Tj ET Q q 0 0 0 rg BT 291.85 197.10 Td (lead ) Tj ET Q q 0 0 0 rg BT 311.10 197.10 Td (to ) Tj ET Q q 0 0 0 rg BT 321.46 197.10 Td (a ) Tj ET Q q 0 0 0 rg BT 328.49 197.10 Td (better ) Tj ET Q q 0 0 0 rg BT 353.85 197.10 Td (2019. ) Tj ET Q q 0 0 0 rg BT 378.94 197.10 Td ( ) Tj ET Q q 0 0 0 rg BT 381.34 197.10 Td (W) Tj ET Q q 0 0 0 rg BT 389.98 197.10 Td (e ) Tj ET Q q 0 0 0 rg BT 397.01 197.10 Td (also ) Tj ET Q q 0 0 0 rg BT 415.71 197.10 Td (note ) Tj ET Q q 0 0 0 rg BT 435.51 197.10 Td (that ) Tj ET Q q 0 0 0 rg BT 453.10 197.10 Td (the ) Tj ET Q q 0 0 0 rg BT 467.91 197.10 Td (sell-of) Tj ET Q q 0 0 0 rg BT 493.27 197.10 Td (f ) Tj ET Q q 0 0 0 rg BT 499.19 197.10 Td (in ) Tj ET Q q 0 0 0 rg BT 509.56 197.10 Td (Q4 ) Tj ET Q q 0 0 0 rg BT 524.37 197.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 546.96 197.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 185.10 Td (not ) Tj ET Q q 0 0 0 rg BT 119.66 185.10 Td (100% ) Tj ET Q q 0 0 0 rg BT 146.37 185.10 Td (fundamentally ) Tj ET Q q 0 0 0 rg BT 207.52 185.10 Td (driven. ) Tj ET Q q 0 0 0 rg BT 238.95 185.10 Td ( ) Tj ET Q q 0 0 0 rg BT 241.58 185.10 Td (As ) Tj ET Q q 0 0 0 rg BT 256.08 185.10 Td (we ) Tj ET Q q 0 0 0 rg BT 271.12 185.10 Td (noted ) Tj ET Q q 0 0 0 rg BT 296.72 185.10 Td (earlier ) Tj ET Q q 0 0 0 rg BT 325.64 185.10 Td (in ) Tj ET Q q 0 0 0 rg BT 336.80 185.10 Td (this ) Tj ET Q q 0 0 0 rg BT 354.63 185.10 Td (letter) Tj ET Q q 0 0 0 rg BT 374.77 185.10 Td (, ) Tj ET Q q 0 0 0 rg BT 380.65 185.10 Td (Q4 ) Tj ET Q q 0 0 0 rg BT 396.26 185.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 419.64 185.10 Td (forced ) Tj ET Q q 0 0 0 rg BT 448.56 185.10 Td (liquidations ) Tj ET Q q 0 0 0 rg BT 499.16 185.10 Td (exacerbated ) Tj ET Q q 0 0 0 rg BT 550.29 185.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 173.10 Td (decline ) Tj ET Q q 0 0 0 rg BT 134.50 173.10 Td (in ) Tj ET Q q 0 0 0 rg BT 144.41 173.10 Td (the ) Tj ET Q q 0 0 0 rg BT 158.76 173.10 Td (overall ) Tj ET Q q 0 0 0 rg BT 188.66 173.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 211.90 173.10 Td (market. ) Tj ET Q q 0 0 0 rg BT 244.29 173.10 Td (In ) Tj ET Q q 0 0 0 rg BT 254.75 173.10 Td (the ) Tj ET Q q 0 0 0 rg BT 269.10 173.10 Td (particular ) Tj ET Q q 0 0 0 rg BT 309.54 173.10 Td (case ) Tj ET Q q 0 0 0 rg BT 328.88 173.10 Td (of ) Tj ET Q q 0 0 0 rg BT 339.34 173.10 Td (IMI, ) Tj ET Q q 0 0 0 rg BT 359.53 173.10 Td (we ) Tj ET Q q 0 0 0 rg BT 373.32 173.10 Td (became ) Tj ET Q q 0 0 0 rg BT 405.98 173.10 Td (aware ) Tj ET Q q 0 0 0 rg BT 431.98 173.10 Td (that ) Tj ET Q q 0 0 0 rg BT 449.11 173.10 Td (its ) Tj ET Q q 0 0 0 rg BT 460.69 173.10 Td (fourth ) Tj ET Q q 0 0 0 rg BT 487.25 173.10 Td (lar) Tj ET Q q 0 0 0 rg BT 497.62 173.10 Td (gest ) Tj ET Q q 0 0 0 rg BT 515.86 173.10 Td (shareholder ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 161.10 Td (was ) Tj ET Q q 0 0 0 rg BT 121.13 161.10 Td (liquidating ) Tj ET Q q 0 0 0 rg BT 166.54 161.10 Td (its ) Tj ET Q q 0 0 0 rg BT 178.06 161.10 Td (entire ) Tj ET Q q 0 0 0 rg BT 202.90 161.10 Td (IMI ) Tj ET Q q 0 0 0 rg BT 220.53 161.10 Td (holdings. ) Tj ET Q q 0 0 0 rg BT 259.41 161.10 Td (W) Tj ET Q q 0 0 0 rg BT 268.05 161.10 Td (e ) Tj ET Q q 0 0 0 rg BT 274.56 161.10 Td (took ) Tj ET Q q 0 0 0 rg BT 294.42 161.10 Td (advantage ) Tj ET Q q 0 0 0 rg BT 337.03 161.10 Td (of ) Tj ET Q q 0 0 0 rg BT 347.44 161.10 Td (this ) Tj ET Q q 0 0 0 rg BT 363.96 161.10 Td (liquidation. ) Tj ET Q q 0 0 0 rg BT 411.87 161.10 Td (For ) Tj ET Q q 0 0 0 rg BT 427.84 161.10 Td (the ) Tj ET Q q 0 0 0 rg BT 442.13 161.10 Td (quarter) Tj ET Q q 0 0 0 rg BT 470.05 161.10 Td (, ) Tj ET Q q 0 0 0 rg BT 474.63 161.10 Td (IMI ) Tj ET Q q 0 0 0 rg BT 492.26 161.10 Td (did ) Tj ET Q q 0 0 0 rg BT 507.11 161.10 Td (not ) Tj ET Q q 0 0 0 rg BT 521.97 161.10 Td (materially ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 149.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 133.21 149.10 Td (our ) Tj ET Q q 0 0 0 rg BT 149.04 149.10 Td (NA) Tj ET Q q 0 0 0 rg BT 162.20 149.10 Td (V) Tj ET Q q 0 0 0 rg BT 168.13 149.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 125.10 Td (Deletion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 101.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 101.10 Td (PDL) Tj ET Q q 0 0 0 rg BT 122.02 101.10 Td ( ) Tj ET Q q 0 0 0 rg BT 124.54 101.10 Td (BioPharma, ) Tj ET Q q 0 0 0 rg BT 174.56 101.10 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 192.35 101.10 Td (\(NASDAQ: ) Tj ET Q q 0 0 0 rg BT 242.65 101.10 Td (PDLI\) ) Tj ET Q q 0 0 0 rg BT 270.72 101.10 Td (was ) Tj ET Q q 0 0 0 rg BT 288.80 101.10 Td (a ) Tj ET Q q 0 0 0 rg BT 295.76 101.10 Td (new ) Tj ET Q q 0 0 0 rg BT 314.94 101.10 Td (holding ) Tj ET Q q 0 0 0 rg BT 348.02 101.10 Td (last ) Tj ET Q q 0 0 0 rg BT 364.43 101.10 Td (quarter) Tj ET Q q 0 0 0 rg BT 392.19 101.10 Td (. ) Tj ET Q q 0 0 0 rg BT 397.03 101.10 Td (W) Tj ET Q q 0 0 0 rg BT 405.67 101.10 Td (e ) Tj ET Q q 0 0 0 rg BT 412.63 101.10 Td (sold ) Tj ET Q q 0 0 0 rg BT 431.82 101.10 Td (our ) Tj ET Q q 0 0 0 rg BT 447.67 101.10 Td (position ) Tj ET Q q 0 0 0 rg BT 482.42 101.10 Td (in ) Tj ET Q q 0 0 0 rg BT 492.72 101.10 Td (PDLI ) Tj ET Q q 0 0 0 rg BT 517.47 101.10 Td (in ) Tj ET Q q 0 0 0 rg BT 527.77 101.10 Td (Q4 ) Tj ET Q q 0 0 0 rg BT 542.51 101.10 Td (2018 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 89.10 Td (for ) Tj ET Q q 0 0 0 rg BT 117.92 89.10 Td (a ) Tj ET Q q 0 0 0 rg BT 125.12 89.10 Td (realized ) Tj ET Q q 0 0 0 rg BT 159.53 89.10 Td (gain ) Tj ET Q q 0 0 0 rg BT 179.51 89.10 Td (of ) Tj ET Q q 0 0 0 rg BT 190.60 89.10 Td (26.2% ) Tj ET Q q 0 0 0 rg BT 219.19 89.10 Td (in ) Tj ET Q q 0 0 0 rg BT 229.73 89.10 Td (a ) Tj ET Q q 0 0 0 rg BT 236.93 89.10 Td (total ) Tj ET Q q 0 0 0 rg BT 257.47 89.10 Td (holding ) Tj ET Q q 0 0 0 rg BT 290.79 89.10 Td (period ) Tj ET Q q 0 0 0 rg BT 319.10 89.10 Td (of ) Tj ET Q q 0 0 0 rg BT 330.19 89.10 Td (less ) Tj ET Q q 0 0 0 rg BT 347.96 89.10 Td (than ) Tj ET Q q 0 0 0 rg BT 367.93 89.10 Td (100 ) Tj ET Q q 0 0 0 rg BT 385.70 89.10 Td (days. ) Tj ET Q q 0 0 0 rg BT 409.29 89.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 427.60 89.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 474.25 89.10 Td (thesis ) Tj ET Q q 0 0 0 rg BT 499.79 89.10 Td (centered ) Tj ET Q q 0 0 0 rg BT 536.42 89.10 Td (on ) Tj ET Q q 0 0 0 rg BT 549.18 89.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 77.10 Td (expectation ) Tj ET Q q 0 0 0 rg BT 151.90 77.10 Td (that ) Tj ET Q q 0 0 0 rg BT 169.22 77.10 Td (PDLI's ) Tj ET Q q 0 0 0 rg BT 199.45 77.10 Td (Board ) Tj ET Q q 0 0 0 rg BT 226.20 77.10 Td (and ) Tj ET Q q 0 0 0 rg BT 242.96 77.10 Td (management ) Tj ET Q q 0 0 0 rg BT 296.36 77.10 Td (would ) Tj ET Q q 0 0 0 rg BT 323.68 77.10 Td (use ) Tj ET Q q 0 0 0 rg BT 339.32 77.10 Td (a ) Tj ET Q q 0 0 0 rg BT 346.08 77.10 Td (meaningful ) Tj ET Q q 0 0 0 rg BT 393.93 77.10 Td (portion ) Tj ET Q q 0 0 0 rg BT 425.14 77.10 Td (of ) Tj ET Q q 0 0 0 rg BT 435.78 77.10 Td (the ) Tj ET Q q 0 0 0 rg BT 450.32 77.10 Td (its ) Tj ET Q q 0 0 0 rg BT 462.08 77.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 482.16 77.10 Td (on ) Tj ET Q q 0 0 0 rg BT 494.48 77.10 Td (hand ) Tj ET Q q 0 0 0 rg BT 516.23 77.10 Td (to ) Tj ET Q q 0 0 0 rg BT 526.33 77.10 Td (buy ) Tj ET Q q 0 0 0 rg BT 543.65 77.10 Td (back ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 65.10 Td (stock. ) Tj ET Q q 0 0 0 rg BT 129.15 65.10 Td (Subsequent ) Tj ET Q q 0 0 0 rg BT 177.29 65.10 Td (to ) Tj ET Q q 0 0 0 rg BT 187.11 65.10 Td (our ) Tj ET Q q 0 0 0 rg BT 202.48 65.10 Td (investment, ) Tj ET Q q 0 0 0 rg BT 250.90 65.10 Td (the ) Tj ET Q q 0 0 0 rg BT 265.16 65.10 Td (company ) Tj ET Q q 0 0 0 rg BT 303.85 65.10 Td (authorized ) Tj ET Q q 0 0 0 rg BT 348.09 65.10 Td (a ) Tj ET Q q 0 0 0 rg BT 354.57 65.10 Td ($100 ) Tj ET Q q 0 0 0 rg BT 376.61 65.10 Td (million ) Tj ET Q q 0 0 0 rg BT 407.54 65.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 430.68 65.10 Td (repurchase ) Tj ET Q q 0 0 0 rg BT 476.03 65.10 Td (program. ) Tj ET Q q 0 0 0 rg BT 513.99 65.10 Td (As ) Tj ET Q q 0 0 0 rg BT 527.14 65.10 Td (the ) Tj ET Q q 0 0 0 rg BT 541.40 65.10 Td (stock ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 53.10 Td (moved ) Tj ET Q q 0 0 0 rg BT 133.22 53.10 Td (directly ) Tj ET Q q 0 0 0 rg BT 166.26 53.10 Td (to ) Tj ET Q q 0 0 0 rg BT 176.54 53.10 Td (our ) Tj ET Q q 0 0 0 rg BT 192.37 53.10 Td (short-term ) Tj ET Q q 0 0 0 rg BT 236.52 53.10 Td (price ) Tj ET Q q 0 0 0 rg BT 259.01 53.10 Td (tar) Tj ET Q q 0 0 0 rg BT 269.37 53.10 Td (get, ) Tj ET Q q 0 0 0 rg BT 286.59 53.10 Td (we ) Tj ET Q q 0 0 0 rg BT 300.75 53.10 Td (exited ) Tj ET Q q 0 0 0 rg BT 327.68 53.10 Td (the ) Tj ET Q q 0 0 0 rg BT 342.40 53.10 Td (position.) Tj ET Q endstream endobj 9 0 obj <> endobj 10 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 24.60 Td (4) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 749.10 Td (Private ) Tj ET Q q 0 0 0 rg BT 81.43 749.10 Td (Portfolio) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 725.10 Td (For ) Tj ET Q q 0 0 0 rg BT 101.10 725.10 Td (the ) Tj ET Q q 0 0 0 rg BT 115.03 725.10 Td (quarter) Tj ET Q q 0 0 0 rg BT 142.94 725.10 Td (, ) Tj ET Q q 0 0 0 rg BT 147.15 725.10 Td (our ) Tj ET Q q 0 0 0 rg BT 162.20 725.10 Td (private ) Tj ET Q q 0 0 0 rg BT 191.67 725.10 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 228.38 725.10 Td (subtracted ) Tj ET Q q 0 0 0 rg BT 271.18 725.10 Td ($0.01 ) Tj ET Q q 0 0 0 rg BT 295.39 725.10 Td (from ) Tj ET Q q 0 0 0 rg BT 316.54 725.10 Td (our ) Tj ET Q q 0 0 0 rg BT 331.58 725.10 Td (NA) Tj ET Q q 0 0 0 rg BT 344.73 725.10 Td (V) Tj ET Q q 0 0 0 rg BT 350.67 725.10 Td (. ) Tj ET Q q 0 0 0 rg BT 354.88 725.10 Td (Positive ) Tj ET Q q 0 0 0 rg BT 388.81 725.10 Td (contributors ) Tj ET Q q 0 0 0 rg BT 438.85 725.10 Td (to ) Tj ET Q q 0 0 0 rg BT 448.34 725.10 Td (NA) Tj ET Q q 0 0 0 rg BT 461.49 725.10 Td (V) Tj ET Q q 0 0 0 rg BT 468.53 725.10 Td ( ) Tj ET Q q 0 0 0 rg BT 470.24 725.10 Td (were ) Tj ET Q q 0 0 0 rg BT 491.38 725.10 Td (HALE.life, ) Tj ET Q q 0 0 0 rg BT 538.08 725.10 Td (which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 713.10 Td (increased ) Tj ET Q q 0 0 0 rg BT 90.15 713.10 Td (our ) Tj ET Q q 0 0 0 rg BT 106.38 713.10 Td (NA) Tj ET Q q 0 0 0 rg BT 119.53 713.10 Td (V) Tj ET Q q 0 0 0 rg BT 126.57 713.10 Td ( ) Tj ET Q q 0 0 0 rg BT 129.47 713.10 Td (by ) Tj ET Q q 0 0 0 rg BT 142.37 713.10 Td ($0.01 ) Tj ET Q q 0 0 0 rg BT 167.76 713.10 Td (due ) Tj ET Q q 0 0 0 rg BT 185.10 713.10 Td (to ) Tj ET Q q 0 0 0 rg BT 195.77 713.10 Td (a ) Tj ET Q q 0 0 0 rg BT 203.11 713.10 Td (recent ) Tj ET Q q 0 0 0 rg BT 230.43 713.10 Td (financing, ) Tj ET Q q 0 0 0 rg BT 273.59 713.10 Td (and ) Tj ET Q q 0 0 0 rg BT 290.93 713.10 Td (Black ) Tj ET Q q 0 0 0 rg BT 317.15 713.10 Td (Silicon ) Tj ET Q q 0 0 0 rg BT 348.38 713.10 Td (Holdings ) Tj ET Q q 0 0 0 rg BT 387.95 713.10 Td (and ) Tj ET Q q 0 0 0 rg BT 405.28 713.10 Td (EchoPixel, ) Tj ET Q q 0 0 0 rg BT 451.78 713.10 Td (which ) Tj ET Q q 0 0 0 rg BT 479.12 713.10 Td (increased ) Tj ET Q q 0 0 0 rg BT 519.77 713.10 Td (by ) Tj ET Q q 0 0 0 rg BT 532.67 713.10 Td (a ) Tj ET Q q 0 0 0 rg BT 540.00 713.10 Td ($0.01 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 701.10 Td (each, ) Tj ET Q q 0 0 0 rg BT 73.35 701.10 Td (against ) Tj ET Q q 0 0 0 rg BT 104.71 701.10 Td (the ) Tj ET Q q 0 0 0 rg BT 119.97 701.10 Td (backdrop ) Tj ET Q q 0 0 0 rg BT 160.21 701.10 Td (of ) Tj ET Q q 0 0 0 rg BT 171.58 701.10 Td (improved ) Tj ET Q q 0 0 0 rg BT 212.94 701.10 Td (fundamentals ) Tj ET Q q 0 0 0 rg BT 269.85 701.10 Td (respective ) Tj ET Q q 0 0 0 rg BT 313.42 701.10 Td (to ) Tj ET Q q 0 0 0 rg BT 324.24 701.10 Td (each ) Tj ET Q q 0 0 0 rg BT 345.59 701.10 Td (company) Tj ET Q q 0 0 0 rg BT 381.59 701.10 Td (. ) Tj ET Q q 0 0 0 rg BT 387.13 701.10 Td (Conversely) Tj ET Q q 0 0 0 rg BT 432.03 701.10 Td (, ) Tj ET Q q 0 0 0 rg BT 437.57 701.10 Td (D-W) Tj ET Q q 0 0 0 rg BT 456.76 701.10 Td (ave ) Tj ET Q q 0 0 0 rg BT 473.67 701.10 Td (Systems ) Tj ET Q q 0 0 0 rg BT 510.05 701.10 Td (decreased ) Tj ET Q q 0 0 0 rg BT 552.50 701.10 Td (by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 689.10 Td ($0.02 ) Tj ET Q q 0 0 0 rg BT 74.50 689.10 Td (due ) Tj ET Q q 0 0 0 rg BT 91.44 689.10 Td (to ) Tj ET Q q 0 0 0 rg BT 101.72 689.10 Td (a ) Tj ET Q q 0 0 0 rg BT 108.66 689.10 Td (weakening ) Tj ET Q q 0 0 0 rg BT 154.47 689.10 Td (of ) Tj ET Q q 0 0 0 rg BT 165.30 689.10 Td (the ) Tj ET Q q 0 0 0 rg BT 180.02 689.10 Td (Canadian ) Tj ET Q q 0 0 0 rg BT 220.28 689.10 Td (dollar ) Tj ET Q q 0 0 0 rg BT 246.11 689.10 Td (and ) Tj ET Q q 0 0 0 rg BT 263.04 689.10 Td (NGX ) Tj ET Q q 0 0 0 rg BT 287.21 689.10 Td (Bio ) Tj ET Q q 0 0 0 rg BT 304.16 689.10 Td (decreased ) Tj ET Q q 0 0 0 rg BT 346.07 689.10 Td (by ) Tj ET Q q 0 0 0 rg BT 358.57 689.10 Td ($0.01 ) Tj ET Q q 0 0 0 rg BT 383.57 689.10 Td (as ) Tj ET Q q 0 0 0 rg BT 394.40 689.10 Td (business ) Tj ET Q q 0 0 0 rg BT 430.79 689.10 Td (fundamentals ) Tj ET Q q 0 0 0 rg BT 487.17 689.10 Td (worsened.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 665.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.14 665.10 Td (e ) Tj ET Q q 0 0 0 rg BT 102.04 665.10 Td (continue ) Tj ET Q q 0 0 0 rg BT 139.94 665.10 Td (to ) Tj ET Q q 0 0 0 rg BT 151.19 665.10 Td (believe ) Tj ET Q q 0 0 0 rg BT 183.53 665.10 Td (in ) Tj ET Q q 0 0 0 rg BT 194.77 665.10 Td (the ) Tj ET Q q 0 0 0 rg BT 210.46 665.10 Td (potential ) Tj ET Q q 0 0 0 rg BT 248.91 665.10 Td (for ) Tj ET Q q 0 0 0 rg BT 264.04 665.10 Td (our ) Tj ET Q q 0 0 0 rg BT 280.84 665.10 Td (most ) Tj ET Q q 0 0 0 rg BT 303.75 665.10 Td (mature ) Tj ET Q q 0 0 0 rg BT 334.98 665.10 Td (companies ) Tj ET Q q 0 0 0 rg BT 381.21 665.10 Td (to ) Tj ET Q q 0 0 0 rg BT 392.46 665.10 Td (build ) Tj ET Q q 0 0 0 rg BT 416.48 665.10 Td (value ) Tj ET Q q 0 0 0 rg BT 441.60 665.10 Td (including, ) Tj ET Q q 0 0 0 rg BT 484.58 665.10 Td (AgBiome, ) Tj ET Q q 0 0 0 rg BT 529.43 665.10 Td (D-W) Tj ET Q q 0 0 0 rg BT 548.62 665.10 Td (ave ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 653.10 Td (Systems, ) Tj ET Q q 0 0 0 rg BT 88.21 653.10 Td (ORIG3N, ) Tj ET Q q 0 0 0 rg BT 130.25 653.10 Td (and ) Tj ET Q q 0 0 0 rg BT 147.55 653.10 Td (Nanosys. ) Tj ET Q q 0 0 0 rg BT 187.37 653.10 Td ( ) Tj ET Q q 0 0 0 rg BT 190.03 653.10 Td (There ) Tj ET Q q 0 0 0 rg BT 216.22 653.10 Td (are ) Tj ET Q q 0 0 0 rg BT 231.29 653.10 Td (other ) Tj ET Q q 0 0 0 rg BT 254.71 653.10 Td (companies ) Tj ET Q q 0 0 0 rg BT 300.34 653.10 Td (in ) Tj ET Q q 0 0 0 rg BT 310.99 653.10 Td (the ) Tj ET Q q 0 0 0 rg BT 326.08 653.10 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 363.94 653.10 Td (that ) Tj ET Q q 0 0 0 rg BT 381.81 653.10 Td (also ) Tj ET Q q 0 0 0 rg BT 400.79 653.10 Td (hold ) Tj ET Q q 0 0 0 rg BT 421.44 653.10 Td (promise, ) Tj ET Q q 0 0 0 rg BT 459.02 653.10 Td (however ) Tj ET Q q 0 0 0 rg BT 496.32 653.10 Td (these ) Tj ET Q q 0 0 0 rg BT 519.74 653.10 Td (companies ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 641.10 Td (are ) Tj ET Q q 0 0 0 rg BT 64.14 641.10 Td (in ) Tj ET Q q 0 0 0 rg BT 74.35 641.10 Td (early ) Tj ET Q q 0 0 0 rg BT 96.77 641.10 Td (stages ) Tj ET Q q 0 0 0 rg BT 123.65 641.10 Td (of ) Tj ET Q q 0 0 0 rg BT 134.41 641.10 Td (development ) Tj ET Q q 0 0 0 rg BT 188.49 641.10 Td (and ) Tj ET Q q 0 0 0 rg BT 205.37 641.10 Td (the ) Tj ET Q q 0 0 0 rg BT 220.02 641.10 Td (timelines ) Tj ET Q q 0 0 0 rg BT 259.11 641.10 Td (and ) Tj ET Q q 0 0 0 rg BT 275.98 641.10 Td (potential ) Tj ET Q q 0 0 0 rg BT 313.41 641.10 Td (exit ) Tj ET Q q 0 0 0 rg BT 330.84 641.10 Td (values ) Tj ET Q q 0 0 0 rg BT 358.82 641.10 Td (for ) Tj ET Q q 0 0 0 rg BT 372.91 641.10 Td (these ) Tj ET Q q 0 0 0 rg BT 395.89 641.10 Td (companies ) Tj ET Q q 0 0 0 rg BT 441.09 641.10 Td (are ) Tj ET Q q 0 0 0 rg BT 455.73 641.10 Td (highly ) Tj ET Q q 0 0 0 rg BT 483.72 641.10 Td (uncertain. ) Tj ET Q q 0 0 0 rg BT 525.86 641.10 Td ( ) Tj ET Q q 0 0 0 rg BT 528.12 641.10 Td (W) Tj ET Q q 0 0 0 rg BT 536.76 641.10 Td (e ) Tj ET Q q 0 0 0 rg BT 543.63 641.10 Td (have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 629.10 Td (often ) Tj ET Q q 0 0 0 rg BT 72.98 629.10 Td (talked ) Tj ET Q q 0 0 0 rg BT 100.35 629.10 Td (about ) Tj ET Q q 0 0 0 rg BT 125.50 629.10 Td (our ) Tj ET Q q 0 0 0 rg BT 141.76 629.10 Td (desire ) Tj ET Q q 0 0 0 rg BT 168.57 629.10 Td (to ) Tj ET Q q 0 0 0 rg BT 179.28 629.10 Td (actively ) Tj ET Q q 0 0 0 rg BT 213.87 629.10 Td (shepherd ) Tj ET Q q 0 0 0 rg BT 252.90 629.10 Td (our ) Tj ET Q q 0 0 0 rg BT 269.16 629.10 Td (existing ) Tj ET Q q 0 0 0 rg BT 303.76 629.10 Td (private ) Tj ET Q q 0 0 0 rg BT 334.46 629.10 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 372.39 629.10 Td (to ) Tj ET Q q 0 0 0 rg BT 383.10 629.10 Td (exits ) Tj ET Q q 0 0 0 rg BT 404.92 629.10 Td (or ) Tj ET Q q 0 0 0 rg BT 416.18 629.10 Td (opportunities ) Tj ET Q q 0 0 0 rg BT 471.89 629.10 Td (to ) Tj ET Q q 0 0 0 rg BT 482.60 629.10 Td (sell ) Tj ET Q q 0 0 0 rg BT 499.42 629.10 Td (our ) Tj ET Q q 0 0 0 rg BT 515.69 629.10 Td (positions ) Tj ET Q q 0 0 0 rg BT 554.74 629.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 617.10 Td (those ) Tj ET Q q 0 0 0 rg BT 72.72 617.10 Td (companies ) Tj ET Q q 0 0 0 rg BT 117.59 617.10 Td (at ) Tj ET Q q 0 0 0 rg BT 126.91 617.10 Td (what ) Tj ET Q q 0 0 0 rg BT 148.46 617.10 Td (we ) Tj ET Q q 0 0 0 rg BT 162.22 617.10 Td (believe ) Tj ET Q q 0 0 0 rg BT 193.20 617.10 Td (are ) Tj ET Q q 0 0 0 rg BT 207.52 617.10 Td (reasonable ) Tj ET Q q 0 0 0 rg BT 252.38 617.10 Td (valuations. ) Tj ET Q q 0 0 0 rg BT 298.09 617.10 Td ( ) Tj ET Q q 0 0 0 rg BT 299.73 617.10 Td (As ) Tj ET Q q 0 0 0 rg BT 312.95 617.10 Td (a ) Tj ET Q q 0 0 0 rg BT 319.49 617.10 Td (reminder) Tj ET Q q 0 0 0 rg BT 355.19 617.10 Td (, ) Tj ET Q q 0 0 0 rg BT 359.79 617.10 Td (on ) Tj ET Q q 0 0 0 rg BT 371.90 617.10 Td (July ) Tj ET Q q 0 0 0 rg BT 390.68 617.10 Td (5, ) Tj ET Q q 0 0 0 rg BT 400.29 617.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 424.89 617.10 Td (we ) Tj ET Q q 0 0 0 rg BT 438.66 617.10 Td (sold ) Tj ET Q q 0 0 0 rg BT 457.44 617.10 Td (our ) Tj ET Q q 0 0 0 rg BT 472.87 617.10 Td (entire ) Tj ET Q q 0 0 0 rg BT 497.74 617.10 Td (position ) Tj ET Q q 0 0 0 rg BT 532.08 617.10 Td (in ) Tj ET Q q 0 0 0 rg BT 541.96 617.10 Td (HZO ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 605.10 Td (to ) Tj ET Q q 0 0 0 rg BT 60.39 605.10 Td (undisclosed ) Tj ET Q q 0 0 0 rg BT 110.73 605.10 Td (buyers ) Tj ET Q q 0 0 0 rg BT 140.50 605.10 Td (for ) Tj ET Q q 0 0 0 rg BT 155.28 605.10 Td ($7 ) Tj ET Q q 0 0 0 rg BT 168.39 605.10 Td (million, ) Tj ET Q q 0 0 0 rg BT 202.90 605.10 Td (an ) Tj ET Q q 0 0 0 rg BT 215.45 605.10 Td (8% ) Tj ET Q q 0 0 0 rg BT 231.90 605.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 271.12 605.10 Td (to ) Tj ET Q q 0 0 0 rg BT 282.01 605.10 Td (its ) Tj ET Q q 0 0 0 rg BT 294.57 605.10 Td (value ) Tj ET Q q 0 0 0 rg BT 319.34 605.10 Td (as ) Tj ET Q q 0 0 0 rg BT 330.79 605.10 Td (of ) Tj ET Q q 0 0 0 rg BT 342.23 605.10 Td (March ) Tj ET Q q 0 0 0 rg BT 371.45 605.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 387.06 605.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 412.68 605.10 Td (but ) Tj ET Q q 0 0 0 rg BT 428.57 605.10 Td (lower ) Tj ET Q q 0 0 0 rg BT 454.46 605.10 Td (than ) Tj ET Q q 0 0 0 rg BT 474.79 605.10 Td (our ) Tj ET Q q 0 0 0 rg BT 491.23 605.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 510.46 605.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 533.57 605.10 Td (of ) Tj ET Q q 0 0 0 rg BT 545.02 605.10 Td ($9.1 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 593.10 Td (million. ) Tj ET Q q 0 0 0 rg BT 83.71 593.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.32 593.10 Td (This ) Tj ET Q q 0 0 0 rg BT 106.91 593.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 151.94 593.10 Td (event ) Tj ET Q q 0 0 0 rg BT 176.41 593.10 Td (both ) Tj ET Q q 0 0 0 rg BT 197.00 593.10 Td (helped ) Tj ET Q q 0 0 0 rg BT 226.47 593.10 Td (us ) Tj ET Q q 0 0 0 rg BT 238.18 593.10 Td (de-risk ) Tj ET Q q 0 0 0 rg BT 268.76 593.10 Td (our ) Tj ET Q q 0 0 0 rg BT 284.91 593.10 Td (private ) Tj ET Q q 0 0 0 rg BT 315.49 593.10 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 353.30 593.10 Td (while ) Tj ET Q q 0 0 0 rg BT 378.33 593.10 Td (also ) Tj ET Q q 0 0 0 rg BT 397.25 593.10 Td (giving ) Tj ET Q q 0 0 0 rg BT 425.62 593.10 Td (us ) Tj ET Q q 0 0 0 rg BT 437.33 593.10 Td (more ) Tj ET Q q 0 0 0 rg BT 460.69 593.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 481.27 593.10 Td (to ) Tj ET Q q 0 0 0 rg BT 491.87 593.10 Td (invest ) Tj ET Q q 0 0 0 rg BT 518.57 593.10 Td (in ) Tj ET Q q 0 0 0 rg BT 529.16 593.10 Td (our ) Tj ET Q q 0 0 0 rg BT 545.31 593.10 Td (core ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 581.10 Td (strategy ) Tj ET Q q 0 0 0 rg BT 83.11 581.10 Td (of ) Tj ET Q q 0 0 0 rg BT 93.39 581.10 Td (investing ) Tj ET Q q 0 0 0 rg BT 132.01 581.10 Td (in ) Tj ET Q q 0 0 0 rg BT 141.74 581.10 Td (small ) Tj ET Q q 0 0 0 rg BT 165.36 581.10 Td (public ) Tj ET Q q 0 0 0 rg BT 192.31 581.10 Td (companies. ) Tj ET Q q 0 0 0 rg BT 239.52 581.10 Td ( ) Tj ET Q q 0 0 0 rg BT 241.34 581.10 Td (W) Tj ET Q q 0 0 0 rg BT 249.97 581.10 Td (e ) Tj ET Q q 0 0 0 rg BT 256.37 581.10 Td (also ) Tj ET Q q 0 0 0 rg BT 274.43 581.10 Td (note ) Tj ET Q q 0 0 0 rg BT 293.60 581.10 Td (that ) Tj ET Q q 0 0 0 rg BT 310.55 581.10 Td (in ) Tj ET Q q 0 0 0 rg BT 320.28 581.10 Td (January ) Tj ET Q q 0 0 0 rg BT 353.33 581.10 Td (2019, ) Tj ET Q q 0 0 0 rg BT 377.78 581.10 Td (we ) Tj ET Q q 0 0 0 rg BT 391.40 581.10 Td (sold ) Tj ET Q q 0 0 0 rg BT 410.02 581.10 Td (our ) Tj ET Q q 0 0 0 rg BT 425.30 581.10 Td (convertible ) Tj ET Q q 0 0 0 rg BT 472.23 581.10 Td (bridge ) Tj ET Q q 0 0 0 rg BT 499.73 581.10 Td (note ) Tj ET Q q 0 0 0 rg BT 518.90 581.10 Td (in ) Tj ET Q q 0 0 0 rg BT 528.64 581.10 Td (Genome ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 569.10 Td (Profiling ) Tj ET Q q 0 0 0 rg BT 87.56 569.10 Td (for ) Tj ET Q q 0 0 0 rg BT 101.72 569.10 Td ($230,000 ) Tj ET Q q 0 0 0 rg BT 141.72 569.10 Td (realizing ) Tj ET Q q 0 0 0 rg BT 179.20 569.10 Td (a ) Tj ET Q q 0 0 0 rg BT 186.14 569.10 Td (20% ) Tj ET Q q 0 0 0 rg BT 206.97 569.10 Td (gain ) Tj ET Q q 0 0 0 rg BT 226.68 569.10 Td (on ) Tj ET Q q 0 0 0 rg BT 239.18 569.10 Td (the ) Tj ET Q q 0 0 0 rg BT 253.90 569.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 300.28 569.10 Td (through ) Tj ET Q q 0 0 0 rg BT 333.89 569.10 Td (payment ) Tj ET Q q 0 0 0 rg BT 370.82 569.10 Td (of ) Tj ET Q q 0 0 0 rg BT 381.65 569.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 413.59 569.10 Td (over ) Tj ET Q q 0 0 0 rg BT 433.86 569.10 Td (our ) Tj ET Q q 0 0 0 rg BT 449.69 569.10 Td (holding ) Tj ET Q q 0 0 0 rg BT 482.74 569.10 Td (period.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 545.10 Td (Expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 521.10 Td (As ) Tj ET Q q 0 0 0 rg BT 99.29 521.10 Td (we ) Tj ET Q q 0 0 0 rg BT 113.63 521.10 Td (have ) Tj ET Q q 0 0 0 rg BT 135.18 521.10 Td (noted, ) Tj ET Q q 0 0 0 rg BT 162.58 521.10 Td (we ) Tj ET Q q 0 0 0 rg BT 176.91 521.10 Td (have ) Tj ET Q q 0 0 0 rg BT 198.47 521.10 Td (dramatically ) Tj ET Q q 0 0 0 rg BT 251.12 521.10 Td (reduced ) Tj ET Q q 0 0 0 rg BT 285.44 521.10 Td (our ) Tj ET Q q 0 0 0 rg BT 301.45 521.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 320.24 521.10 Td (structure ) Tj ET Q q 0 0 0 rg BT 357.90 521.10 Td (under ) Tj ET Q q 0 0 0 rg BT 383.34 521.10 Td (our ) Tj ET Q q 0 0 0 rg BT 399.35 521.10 Td (new ) Tj ET Q q 0 0 0 rg BT 418.69 521.10 Td (strategy) Tj ET Q q 0 0 0 rg BT 449.70 521.10 Td (. ) Tj ET Q q 0 0 0 rg BT 454.87 521.10 Td (In ) Tj ET Q q 0 0 0 rg BT 465.88 521.10 Td (2016, ) Tj ET Q q 0 0 0 rg BT 491.06 521.10 Td (before ) Tj ET Q q 0 0 0 rg BT 519.27 521.10 Td (our ) Tj ET Q q 0 0 0 rg BT 535.28 521.10 Td (Fund) Tj ET Q q 0 0 0 rg BT 558.62 521.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 509.10 Td (change ) Tj ET Q q 0 0 0 rg BT 81.93 509.10 Td (in ) Tj ET Q q 0 0 0 rg BT 93.82 509.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 141.82 509.10 Td (focus ) Tj ET Q q 0 0 0 rg BT 167.59 509.10 Td (and ) Tj ET Q q 0 0 0 rg BT 186.14 509.10 Td (management, ) Tj ET Q q 0 0 0 rg BT 243.85 509.10 Td (our ) Tj ET Q q 0 0 0 rg BT 261.29 509.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 303.17 509.10 Td (expenses, ) Tj ET Q q 0 0 0 rg BT 345.88 509.10 Td (excluding ) Tj ET Q q 0 0 0 rg BT 389.43 509.10 Td (stock-based ) Tj ET Q q 0 0 0 rg BT 440.75 509.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 500.40 509.10 Td (and ) Tj ET Q q 0 0 0 rg BT 518.96 509.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 552.50 509.10 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 497.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 98.16 497.10 Td (debt, ) Tj ET Q q 0 0 0 rg BT 119.87 497.10 Td (averaged ) Tj ET Q q 0 0 0 rg BT 157.95 497.10 Td ($1.3 ) Tj ET Q q 0 0 0 rg BT 177.45 497.10 Td (million ) Tj ET Q q 0 0 0 rg BT 208.34 497.10 Td (per ) Tj ET Q q 0 0 0 rg BT 223.10 497.10 Td (quarter) Tj ET Q q 0 0 0 rg BT 250.87 497.10 Td (. ) Tj ET Q q 0 0 0 rg BT 255.36 497.10 Td ( ) Tj ET Q q 0 0 0 rg BT 257.36 497.10 Td (For ) Tj ET Q q 0 0 0 rg BT 273.25 497.10 Td (Q4 ) Tj ET Q q 0 0 0 rg BT 287.46 497.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 311.96 497.10 Td (our ) Tj ET Q q 0 0 0 rg BT 327.29 497.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 367.05 497.10 Td (expenses ) Tj ET Q q 0 0 0 rg BT 405.14 497.10 Td (excluding ) Tj ET Q q 0 0 0 rg BT 446.57 497.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 468.57 497.10 Td (deferred ) Tj ET Q q 0 0 0 rg BT 503.87 497.10 Td (bonus ) Tj ET Q q 0 0 0 rg BT 529.76 497.10 Td (accruals ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 485.10 Td (equaled ) Tj ET Q q 0 0 0 rg BT 83.82 485.10 Td (approximately ) Tj ET Q q 0 0 0 rg BT 144.81 485.10 Td ($587,000. ) Tj ET Q q 0 0 0 rg BT 188.03 485.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 206.81 485.10 Td (total ) Tj ET Q q 0 0 0 rg BT 227.81 485.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 268.80 485.10 Td (expenses ) Tj ET Q q 0 0 0 rg BT 308.13 485.10 Td (excluding ) Tj ET Q q 0 0 0 rg BT 350.79 485.10 Td (2017-related ) Tj ET Q q 0 0 0 rg BT 404.54 485.10 Td (bonus ) Tj ET Q q 0 0 0 rg BT 431.66 485.10 Td (accruals ) Tj ET Q q 0 0 0 rg BT 467.64 485.10 Td (declined ) Tj ET Q q 0 0 0 rg BT 504.74 485.10 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 473.10 Td ($200,000 ) Tj ET Q q 0 0 0 rg BT 90.20 473.10 Td (from ) Tj ET Q q 0 0 0 rg BT 112.83 473.10 Td ($3.1 ) Tj ET Q q 0 0 0 rg BT 133.53 473.10 Td (million ) Tj ET Q q 0 0 0 rg BT 165.61 473.10 Td (in ) Tj ET Q q 0 0 0 rg BT 176.59 473.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 199.78 473.10 Td (to ) Tj ET Q q 0 0 0 rg BT 210.76 473.10 Td ($2.9 ) Tj ET Q q 0 0 0 rg BT 231.45 473.10 Td (million ) Tj ET Q q 0 0 0 rg BT 263.54 473.10 Td (in ) Tj ET Q q 0 0 0 rg BT 274.51 473.10 Td (2018. ) Tj ET Q q 0 0 0 rg BT 300.21 473.10 Td ( ) Tj ET Q q 0 0 0 rg BT 303.41 473.10 Td (Including ) Tj ET Q q 0 0 0 rg BT 344.93 473.10 Td (sub-lease ) Tj ET Q q 0 0 0 rg BT 385.33 473.10 Td (income, ) Tj ET Q q 0 0 0 rg BT 420.46 473.10 Td (our ) Tj ET Q q 0 0 0 rg BT 436.99 473.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 477.94 473.10 Td (expenses ) Tj ET Q q 0 0 0 rg BT 517.24 473.10 Td (net ) Tj ET Q q 0 0 0 rg BT 532.65 473.10 Td (of ) Tj ET Q q 0 0 0 rg BT 544.18 473.10 Td (such ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 461.10 Td (income ) Tj ET Q q 0 0 0 rg BT 81.59 461.10 Td (declined ) Tj ET Q q 0 0 0 rg BT 118.12 461.10 Td ($300,000 ) Tj ET Q q 0 0 0 rg BT 158.27 461.10 Td (year) Tj ET Q q 0 0 0 rg BT 175.28 461.10 Td (-over) Tj ET Q q 0 0 0 rg BT 196.18 461.10 Td (-year) Tj ET Q q 0 0 0 rg BT 216.16 461.10 Td (. ) Tj ET Q q 0 0 0 rg BT 221.32 461.10 Td ( ) Tj ET Q q 0 0 0 rg BT 223.78 461.10 Td (W) Tj ET Q q 0 0 0 rg BT 232.42 461.10 Td (e ) Tj ET Q q 0 0 0 rg BT 239.51 461.10 Td (remain ) Tj ET Q q 0 0 0 rg BT 269.93 461.10 Td (committed ) Tj ET Q q 0 0 0 rg BT 315.35 461.10 Td (to ) Tj ET Q q 0 0 0 rg BT 325.79 461.10 Td (treating ) Tj ET Q q 0 0 0 rg BT 358.99 461.10 Td (every ) Tj ET Q q 0 0 0 rg BT 383.85 461.10 Td (dollar ) Tj ET Q q 0 0 0 rg BT 409.83 461.10 Td (of ) Tj ET Q q 0 0 0 rg BT 420.81 461.10 Td (shareholder ) Tj ET Q q 0 0 0 rg BT 470.11 461.10 Td (money ) Tj ET Q q 0 0 0 rg BT 499.99 461.10 Td (with ) Tj ET Q q 0 0 0 rg BT 520.42 461.10 Td (the ) Tj ET Q q 0 0 0 rg BT 535.29 461.10 Td (utmost ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 449.10 Td (care ) Tj ET Q q 0 0 0 rg BT 68.65 449.10 Td (and ) Tj ET Q q 0 0 0 rg BT 85.58 449.10 Td (consideration. ) Tj ET Q q 0 0 0 rg BT 144.46 449.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 425.10 Td (In ) Tj ET Q q 0 0 0 rg BT 96.40 425.10 Td (Q2 ) Tj ET Q q 0 0 0 rg BT 111.20 425.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 136.27 425.10 Td (given ) Tj ET Q q 0 0 0 rg BT 161.06 425.10 Td (an ) Tj ET Q q 0 0 0 rg BT 173.07 425.10 Td (assessment ) Tj ET Q q 0 0 0 rg BT 220.08 425.10 Td (of ) Tj ET Q q 0 0 0 rg BT 230.98 425.10 Td (individual ) Tj ET Q q 0 0 0 rg BT 274.11 425.10 Td (and ) Tj ET Q q 0 0 0 rg BT 291.12 425.10 Td (company-related ) Tj ET Q q 0 0 0 rg BT 360.88 425.10 Td (metrics, ) Tj ET Q q 0 0 0 rg BT 395.38 425.10 Td (the ) Tj ET Q q 0 0 0 rg BT 410.17 425.10 Td (Compensation ) Tj ET Q q 0 0 0 rg BT 470.52 425.10 Td (Committee ) Tj ET Q q 0 0 0 rg BT 517.53 425.10 Td (determined ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 413.10 Td (that ) Tj ET Q q 0 0 0 rg BT 67.07 413.10 Td (it ) Tj ET Q q 0 0 0 rg BT 75.20 413.10 Td (was ) Tj ET Q q 0 0 0 rg BT 93.33 413.10 Td (appropriate ) Tj ET Q q 0 0 0 rg BT 141.43 413.10 Td (for ) Tj ET Q q 0 0 0 rg BT 155.67 413.10 Td (us ) Tj ET Q q 0 0 0 rg BT 167.14 413.10 Td (to ) Tj ET Q q 0 0 0 rg BT 177.49 413.10 Td (accrue ) Tj ET Q q 0 0 0 rg BT 206.15 413.10 Td (for ) Tj ET Q q 0 0 0 rg BT 220.38 413.10 Td (the ) Tj ET Q q 0 0 0 rg BT 235.17 413.10 Td (probable ) Tj ET Q q 0 0 0 rg BT 272.73 413.10 Td (payment ) Tj ET Q q 0 0 0 rg BT 309.74 413.10 Td (of ) Tj ET Q q 0 0 0 rg BT 320.65 413.10 Td (a ) Tj ET Q q 0 0 0 rg BT 327.66 413.10 Td (bonus ) Tj ET Q q 0 0 0 rg BT 354.13 413.10 Td (to ) Tj ET Q q 0 0 0 rg BT 364.48 413.10 Td (management ) Tj ET Q q 0 0 0 rg BT 418.14 413.10 Td (at ) Tj ET Q q 0 0 0 rg BT 427.93 413.10 Td (year) Tj ET Q q 0 0 0 rg BT 444.94 413.10 Td (-end. ) Tj ET Q q 0 0 0 rg BT 467.60 413.10 Td (This ) Tj ET Q q 0 0 0 rg BT 487.95 413.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 522.73 413.10 Td (accrual ) Tj ET Q q 0 0 0 rg BT 554.17 413.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 401.10 Td ($0.017 ) Tj ET Q q 0 0 0 rg BT 79.87 401.10 Td (per ) Tj ET Q q 0 0 0 rg BT 95.50 401.10 Td (share, ) Tj ET Q q 0 0 0 rg BT 121.96 401.10 Td (or ) Tj ET Q q 0 0 0 rg BT 133.16 401.10 Td (approximately ) Tj ET Q q 0 0 0 rg BT 193.78 401.10 Td ($540,000, ) Tj ET Q q 0 0 0 rg BT 236.65 401.10 Td (was ) Tj ET Q q 0 0 0 rg BT 255.06 401.10 Td (derived ) Tj ET Q q 0 0 0 rg BT 287.92 401.10 Td (using ) Tj ET Q q 0 0 0 rg BT 312.45 401.10 Td (the ) Tj ET Q q 0 0 0 rg BT 327.53 401.10 Td (same ) Tj ET Q q 0 0 0 rg BT 350.94 401.10 Td (framework ) Tj ET Q q 0 0 0 rg BT 397.68 401.10 Td (and ) Tj ET Q q 0 0 0 rg BT 414.98 401.10 Td (considerations ) Tj ET Q q 0 0 0 rg BT 475.61 401.10 Td (used ) Tj ET Q q 0 0 0 rg BT 496.80 401.10 Td (to ) Tj ET Q q 0 0 0 rg BT 507.45 401.10 Td (determine ) Tj ET Q q 0 0 0 rg BT 550.29 401.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 389.10 Td (bonus ) Tj ET Q q 0 0 0 rg BT 76.10 389.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 134.35 389.10 Td (in ) Tj ET Q q 0 0 0 rg BT 144.83 389.10 Td (2017. ) Tj ET Q q 0 0 0 rg BT 170.04 389.10 Td (It ) Tj ET Q q 0 0 0 rg BT 178.85 389.10 Td (also ) Tj ET Q q 0 0 0 rg BT 197.67 389.10 Td (included ) Tj ET Q q 0 0 0 rg BT 234.81 389.10 Td (the ) Tj ET Q q 0 0 0 rg BT 249.73 389.10 Td (concept ) Tj ET Q q 0 0 0 rg BT 283.53 389.10 Td (of ) Tj ET Q q 0 0 0 rg BT 294.57 389.10 Td (the ) Tj ET Q q 0 0 0 rg BT 309.49 389.10 Td (deferral ) Tj ET Q q 0 0 0 rg BT 343.28 389.10 Td (of ) Tj ET Q q 0 0 0 rg BT 354.32 389.10 Td (a ) Tj ET Q q 0 0 0 rg BT 361.46 389.10 Td (meaningful ) Tj ET Q q 0 0 0 rg BT 409.71 389.10 Td (portion ) Tj ET Q q 0 0 0 rg BT 441.31 389.10 Td (of ) Tj ET Q q 0 0 0 rg BT 452.34 389.10 Td (the ) Tj ET Q q 0 0 0 rg BT 467.27 389.10 Td (bonus ) Tj ET Q q 0 0 0 rg BT 493.86 389.10 Td (to ) Tj ET Q q 0 0 0 rg BT 504.35 389.10 Td (future ) Tj ET Q q 0 0 0 rg BT 530.93 389.10 Td (years ) Tj ET Q q 0 0 0 rg BT 554.74 389.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 377.10 Td (encourage ) Tj ET Q q 0 0 0 rg BT 93.63 377.10 Td (and ) Tj ET Q q 0 0 0 rg BT 111.11 377.10 Td (reward ) Tj ET Q q 0 0 0 rg BT 141.91 377.10 Td (persistent ) Tj ET Q q 0 0 0 rg BT 183.28 377.10 Td (performance. ) Tj ET Q q 0 0 0 rg BT 239.35 377.10 Td (Given ) Tj ET Q q 0 0 0 rg BT 266.83 377.10 Td (the ) Tj ET Q q 0 0 0 rg BT 282.09 377.10 Td (decline ) Tj ET Q q 0 0 0 rg BT 314.00 377.10 Td (in ) Tj ET Q q 0 0 0 rg BT 324.83 377.10 Td (our ) Tj ET Q q 0 0 0 rg BT 341.20 377.10 Td (NA) Tj ET Q q 0 0 0 rg BT 354.35 377.10 Td (V) Tj ET Q q 0 0 0 rg BT 361.39 377.10 Td ( ) Tj ET Q q 0 0 0 rg BT 364.44 377.10 Td (this ) Tj ET Q q 0 0 0 rg BT 381.93 377.10 Td (quarter) Tj ET Q q 0 0 0 rg BT 409.84 377.10 Td (, ) Tj ET Q q 0 0 0 rg BT 415.39 377.10 Td (management ) Tj ET Q q 0 0 0 rg BT 469.52 377.10 Td (recommended, ) Tj ET Q q 0 0 0 rg BT 531.70 377.10 Td (and ) Tj ET Q q 0 0 0 rg BT 549.19 377.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 365.10 Td (Compensation ) Tj ET Q q 0 0 0 rg BT 108.60 365.10 Td (Committee ) Tj ET Q q 0 0 0 rg BT 154.36 365.10 Td (agreed, ) Tj ET Q q 0 0 0 rg BT 184.83 365.10 Td (that ) Tj ET Q q 0 0 0 rg BT 201.16 365.10 Td (it ) Tj ET Q q 0 0 0 rg BT 208.04 365.10 Td (was ) Tj ET Q q 0 0 0 rg BT 224.92 365.10 Td (appropriate ) Tj ET Q q 0 0 0 rg BT 271.77 365.10 Td (to ) Tj ET Q q 0 0 0 rg BT 280.88 365.10 Td (reverse ) Tj ET Q q 0 0 0 rg BT 311.07 365.10 Td (this ) Tj ET Q q 0 0 0 rg BT 326.84 365.10 Td (accrual. ) Tj ET Q q 0 0 0 rg BT 359.24 365.10 Td (As ) Tj ET Q q 0 0 0 rg BT 371.68 365.10 Td (such, ) Tj ET Q q 0 0 0 rg BT 393.83 365.10 Td (there ) Tj ET Q q 0 0 0 rg BT 415.15 365.10 Td (will ) Tj ET Q q 0 0 0 rg BT 432.03 365.10 Td (be ) Tj ET Q q 0 0 0 rg BT 442.79 365.10 Td (no ) Tj ET Q q 0 0 0 rg BT 454.12 365.10 Td (bonus ) Tj ET Q q 0 0 0 rg BT 479.33 365.10 Td (pool ) Tj ET Q q 0 0 0 rg BT 498.44 365.10 Td (for ) Tj ET Q q 0 0 0 rg BT 511.42 365.10 Td (management ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 353.10 Td (in ) Tj ET Q q 0 0 0 rg BT 59.78 353.10 Td (2018. ) Tj ET Q q 0 0 0 rg BT 84.78 353.10 Td ( ) Tj ET Q q 0 0 0 rg BT 87.10 353.10 Td (This ) Tj ET Q q 0 0 0 rg BT 107.38 353.10 Td (reversal ) Tj ET Q q 0 0 0 rg BT 141.52 353.10 Td (increased ) Tj ET Q q 0 0 0 rg BT 181.78 353.10 Td (NA) Tj ET Q q 0 0 0 rg BT 194.93 353.10 Td (V) Tj ET Q q 0 0 0 rg BT 201.97 353.10 Td ( ) Tj ET Q q 0 0 0 rg BT 204.47 353.10 Td (by ) Tj ET Q q 0 0 0 rg BT 216.97 353.10 Td ($0.017 ) Tj ET Q q 0 0 0 rg BT 246.97 353.10 Td (in ) Tj ET Q q 0 0 0 rg BT 257.25 353.10 Td (the ) Tj ET Q q 0 0 0 rg BT 271.97 353.10 Td (quarter) Tj ET Q q 0 0 0 rg BT 299.73 353.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 329.10 Td (TURN/NA) Tj ET Q q 0 0 0 rg BT 93.77 329.10 Td (V) Tj ET Q q 0 0 0 rg BT 100.07 329.10 Td (: ) Tj ET Q q 0 0 0 rg BT 105.90 329.10 Td (SUM ) Tj ET Q q 0 0 0 rg BT 130.62 329.10 Td (OF) Tj ET Q q 0 0 0 rg BT 144.14 329.10 Td ( ) Tj ET Q q 0 0 0 rg BT 146.46 329.10 Td (THE ) Tj ET Q q 0 0 0 rg BT 170.08 329.10 Td (P) Tj ET Q q 0 0 0 rg BT 175.44 329.10 Td (AR) Tj ET Q q 0 0 0 rg BT 189.53 329.10 Td (TS:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 305.10 Td (At ) Tj ET Q q 0 0 0 rg BT 98.00 305.10 Td (the ) Tj ET Q q 0 0 0 rg BT 112.71 305.10 Td (end ) Tj ET Q q 0 0 0 rg BT 129.64 305.10 Td (of ) Tj ET Q q 0 0 0 rg BT 140.47 305.10 Td (Q4 ) Tj ET Q q 0 0 0 rg BT 155.18 305.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 180.00 305.10 Td (TURN ) Tj ET Q q 0 0 0 rg BT 209.71 305.10 Td (traded ) Tj ET Q q 0 0 0 rg BT 237.19 305.10 Td (at ) Tj ET Q q 0 0 0 rg BT 246.91 305.10 Td (66% ) Tj ET Q q 0 0 0 rg BT 267.73 305.10 Td (of ) Tj ET Q q 0 0 0 rg BT 278.56 305.10 Td (its ) Tj ET Q q 0 0 0 rg BT 290.50 305.10 Td (NA) Tj ET Q q 0 0 0 rg BT 303.65 305.10 Td (V) Tj ET Q q 0 0 0 rg BT 309.59 305.10 Td (. ) Tj ET Q q 0 0 0 rg BT 314.58 305.10 Td ( ) Tj ET Q q 0 0 0 rg BT 317.08 305.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 335.12 305.10 Td (liquid ) Tj ET Q q 0 0 0 rg BT 360.95 305.10 Td (assets, ) Tj ET Q q 0 0 0 rg BT 389.28 305.10 Td (cash, ) Tj ET Q q 0 0 0 rg BT 412.04 305.10 Td (and ) Tj ET Q q 0 0 0 rg BT 428.98 305.10 Td (other ) Tj ET Q q 0 0 0 rg BT 452.02 305.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 477.84 305.10 Td (net ) Tj ET Q q 0 0 0 rg BT 492.56 305.10 Td (of ) Tj ET Q q 0 0 0 rg BT 503.38 305.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 543.09 305.10 Td (were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 293.10 Td ($1.03 ) Tj ET Q q 0 0 0 rg BT 74.64 293.10 Td (per ) Tj ET Q q 0 0 0 rg BT 90.04 293.10 Td (share. ) Tj ET Q q 0 0 0 rg BT 116.28 293.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 134.47 293.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 158.22 293.10 Td (price ) Tj ET Q q 0 0 0 rg BT 180.84 293.10 Td (was ) Tj ET Q q 0 0 0 rg BT 199.03 293.10 Td ($1.75. ) Tj ET Q q 0 0 0 rg BT 226.67 293.10 Td (If ) Tj ET Q q 0 0 0 rg BT 235.97 293.10 Td (we ) Tj ET Q q 0 0 0 rg BT 250.27 293.10 Td (received ) Tj ET Q q 0 0 0 rg BT 286.77 293.10 Td (100% ) Tj ET Q q 0 0 0 rg BT 312.74 293.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 338.14 293.10 Td (for ) Tj ET Q q 0 0 0 rg BT 352.44 293.10 Td (the ) Tj ET Q q 0 0 0 rg BT 367.29 293.10 Td (value ) Tj ET Q q 0 0 0 rg BT 391.58 293.10 Td (of ) Tj ET Q q 0 0 0 rg BT 402.55 293.10 Td (these ) Tj ET Q q 0 0 0 rg BT 425.74 293.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 451.71 293.10 Td (net ) Tj ET Q q 0 0 0 rg BT 466.56 293.10 Td (of ) Tj ET Q q 0 0 0 rg BT 477.53 293.10 Td (liabilities, ) Tj ET Q q 0 0 0 rg BT 519.88 293.10 Td (the ) Tj ET Q q 0 0 0 rg BT 534.74 293.10 Td (market ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 281.10 Td (is ) Tj ET Q q 0 0 0 rg BT 59.37 281.10 Td (ascribing ) Tj ET Q q 0 0 0 rg BT 99.22 281.10 Td (a ) Tj ET Q q 0 0 0 rg BT 106.86 281.10 Td (value ) Tj ET Q q 0 0 0 rg BT 131.71 281.10 Td (of ) Tj ET Q q 0 0 0 rg BT 143.24 281.10 Td ($0.72 ) Tj ET Q q 0 0 0 rg BT 168.94 281.10 Td (per ) Tj ET Q q 0 0 0 rg BT 184.91 281.10 Td (share, ) Tj ET Q q 0 0 0 rg BT 211.70 281.10 Td (or ) Tj ET Q q 0 0 0 rg BT 223.23 281.10 Td ($22.4 ) Tj ET Q q 0 0 0 rg BT 248.93 281.10 Td (million, ) Tj ET Q q 0 0 0 rg BT 283.52 281.10 Td (to ) Tj ET Q q 0 0 0 rg BT 294.50 281.10 Td (our ) Tj ET Q q 0 0 0 rg BT 311.02 281.10 Td (private ) Tj ET Q q 0 0 0 rg BT 341.99 281.10 Td (portfolio. ) Tj ET Q q 0 0 0 rg BT 382.68 281.10 Td (Given ) Tj ET Q q 0 0 0 rg BT 410.32 281.10 Td (our ) Tj ET Q q 0 0 0 rg BT 426.84 281.10 Td (private ) Tj ET Q q 0 0 0 rg BT 457.81 281.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 484.33 281.10 Td (are ) Tj ET Q q 0 0 0 rg BT 499.74 281.10 Td (valued ) Tj ET Q q 0 0 0 rg BT 529.59 281.10 Td (at ) Tj ET Q q 0 0 0 rg BT 540.01 281.10 Td ($50.1 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 269.10 Td (million, ) Tj ET Q q 0 0 0 rg BT 83.27 269.10 Td (the ) Tj ET Q q 0 0 0 rg BT 97.87 269.10 Td (market ) Tj ET Q q 0 0 0 rg BT 128.01 269.10 Td (is ) Tj ET Q q 0 0 0 rg BT 137.06 269.10 Td (discounting ) Tj ET Q q 0 0 0 rg BT 186.11 269.10 Td (the ) Tj ET Q q 0 0 0 rg BT 200.71 269.10 Td (value ) Tj ET Q q 0 0 0 rg BT 224.74 269.10 Td (of ) Tj ET Q q 0 0 0 rg BT 235.45 269.10 Td (our ) Tj ET Q q 0 0 0 rg BT 251.16 269.10 Td (private ) Tj ET Q q 0 0 0 rg BT 281.31 269.10 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 318.68 269.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 344.39 269.10 Td (by ) Tj ET Q q 0 0 0 rg BT 356.77 269.10 Td (55% ) Tj ET Q q 0 0 0 rg BT 377.48 269.10 Td (as ) Tj ET Q q 0 0 0 rg BT 388.19 269.10 Td (of ) Tj ET Q q 0 0 0 rg BT 398.90 269.10 Td (the ) Tj ET Q q 0 0 0 rg BT 413.50 269.10 Td (end ) Tj ET Q q 0 0 0 rg BT 430.32 269.10 Td (of ) Tj ET Q q 0 0 0 rg BT 441.03 269.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 463.41 269.10 Td (versus ) Tj ET Q q 0 0 0 rg BT 491.34 269.10 Td (40% ) Tj ET Q q 0 0 0 rg BT 512.05 269.10 Td (as ) Tj ET Q q 0 0 0 rg BT 522.76 269.10 Td (of ) Tj ET Q q 0 0 0 rg BT 533.47 269.10 Td (the ) Tj ET Q q 0 0 0 rg BT 548.07 269.10 Td (end ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 257.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.33 257.10 Td (Q3 ) Tj ET Q q 0 0 0 rg BT 75.05 257.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 97.55 257.10 Td (and ) Tj ET Q q 0 0 0 rg BT 114.49 257.10 Td (36% ) Tj ET Q q 0 0 0 rg BT 135.32 257.10 Td (as ) Tj ET Q q 0 0 0 rg BT 146.15 257.10 Td (of ) Tj ET Q q 0 0 0 rg BT 156.98 257.10 Td (the ) Tj ET Q q 0 0 0 rg BT 171.70 257.10 Td (end ) Tj ET Q q 0 0 0 rg BT 188.64 257.10 Td (of ) Tj ET Q q 0 0 0 rg BT 199.47 257.10 Td (2017. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 233.10 Td (As ) Tj ET Q q 0 0 0 rg BT 99.12 233.10 Td (we ) Tj ET Q q 0 0 0 rg BT 113.28 233.10 Td (grow ) Tj ET Q q 0 0 0 rg BT 136.33 233.10 Td (our ) Tj ET Q q 0 0 0 rg BT 152.17 233.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 172.44 233.10 Td (and ) Tj ET Q q 0 0 0 rg BT 189.38 233.10 Td (liquid ) Tj ET Q q 0 0 0 rg BT 215.21 233.10 Td (securities, ) Tj ET Q q 0 0 0 rg BT 257.98 233.10 Td (the ) Tj ET Q q 0 0 0 rg BT 272.70 233.10 Td (discount ) Tj ET Q q 0 0 0 rg BT 309.09 233.10 Td (our ) Tj ET Q q 0 0 0 rg BT 324.92 233.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 348.53 233.10 Td (trades ) Tj ET Q q 0 0 0 rg BT 374.91 233.10 Td (to ) Tj ET Q q 0 0 0 rg BT 385.19 233.10 Td (NA) Tj ET Q q 0 0 0 rg BT 398.35 233.10 Td (V) Tj ET Q q 0 0 0 rg BT 405.39 233.10 Td ( ) Tj ET Q q 0 0 0 rg BT 407.89 233.10 Td (should ) Tj ET Q q 0 0 0 rg BT 437.06 233.10 Td (narrow) Tj ET Q q 0 0 0 rg BT 464.73 233.10 Td (. ) Tj ET Q q 0 0 0 rg BT 469.74 233.10 Td (In ) Tj ET Q q 0 0 0 rg BT 480.57 233.10 Td (September ) Tj ET Q q 0 0 0 rg BT 525.83 233.10 Td (2016, ) Tj ET Q q 0 0 0 rg BT 550.84 233.10 Td (we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 221.10 Td (had ) Tj ET Q q 0 0 0 rg BT 66.25 221.10 Td (19% ) Tj ET Q q 0 0 0 rg BT 86.89 221.10 Td (of ) Tj ET Q q 0 0 0 rg BT 97.53 221.10 Td (our ) Tj ET Q q 0 0 0 rg BT 113.17 221.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 133.25 221.10 Td (and ) Tj ET Q q 0 0 0 rg BT 150.00 221.10 Td (investments ) Tj ET Q q 0 0 0 rg BT 200.09 221.10 Td (in ) Tj ET Q q 0 0 0 rg BT 210.18 221.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 230.26 221.10 Td (and ) Tj ET Q q 0 0 0 rg BT 247.00 221.10 Td (liquid ) Tj ET Q q 0 0 0 rg BT 272.65 221.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 312.73 221.10 Td (less ) Tj ET Q q 0 0 0 rg BT 330.04 221.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 379.01 221.10 Td (debt. ) Tj ET Q q 0 0 0 rg BT 400.53 221.10 Td (At ) Tj ET Q q 0 0 0 rg BT 412.84 221.10 Td (the ) Tj ET Q q 0 0 0 rg BT 427.37 221.10 Td (beginning ) Tj ET Q q 0 0 0 rg BT 469.68 221.10 Td (of ) Tj ET Q q 0 0 0 rg BT 480.32 221.10 Td (our ) Tj ET Q q 0 0 0 rg BT 495.96 221.10 Td (strategy ) Tj ET Q q 0 0 0 rg BT 529.92 221.10 Td (in ) Tj ET Q q 0 0 0 rg BT 540.01 221.10 Td (2017, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 209.10 Td (we ) Tj ET Q q 0 0 0 rg BT 63.20 209.10 Td (had ) Tj ET Q q 0 0 0 rg BT 79.67 209.10 Td (27% ) Tj ET Q q 0 0 0 rg BT 100.03 209.10 Td (of ) Tj ET Q q 0 0 0 rg BT 110.40 209.10 Td (our ) Tj ET Q q 0 0 0 rg BT 125.76 209.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 145.57 209.10 Td (and ) Tj ET Q q 0 0 0 rg BT 162.04 209.10 Td (investments ) Tj ET Q q 0 0 0 rg BT 211.85 209.10 Td (in ) Tj ET Q q 0 0 0 rg BT 221.66 209.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 241.47 209.10 Td (and ) Tj ET Q q 0 0 0 rg BT 257.94 209.10 Td (public ) Tj ET Q q 0 0 0 rg BT 284.97 209.10 Td (companies. ) Tj ET Q q 0 0 0 rg BT 332.27 209.10 Td ( ) Tj ET Q q 0 0 0 rg BT 334.16 209.10 Td (T) Tj ET Q q 0 0 0 rg BT 339.57 209.10 Td (oday ) Tj ET Q q 0 0 0 rg BT 361.04 209.10 Td (that ) Tj ET Q q 0 0 0 rg BT 378.07 209.10 Td (number ) Tj ET Q q 0 0 0 rg BT 410.65 209.10 Td (is ) Tj ET Q q 0 0 0 rg BT 419.36 209.10 Td (40%. ) Tj ET Q q 0 0 0 rg BT 442.08 209.10 Td (W) Tj ET Q q 0 0 0 rg BT 450.71 209.10 Td (e ) Tj ET Q q 0 0 0 rg BT 457.19 209.10 Td (want ) Tj ET Q q 0 0 0 rg BT 478.66 209.10 Td (that ) Tj ET Q q 0 0 0 rg BT 495.69 209.10 Td (trend ) Tj ET Q q 0 0 0 rg BT 518.27 209.10 Td (to ) Tj ET Q q 0 0 0 rg BT 528.09 209.10 Td (continue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 197.10 Td (and ) Tj ET Q q 0 0 0 rg BT 65.88 197.10 Td (accelerate. ) Tj ET Q q 0 0 0 rg BT 110.14 197.10 Td (W) Tj ET Q q 0 0 0 rg BT 118.78 197.10 Td (e ) Tj ET Q q 0 0 0 rg BT 125.16 197.10 Td (have ) Tj ET Q q 0 0 0 rg BT 145.99 197.10 Td (made ) Tj ET Q q 0 0 0 rg BT 169.59 197.10 Td (substantial ) Tj ET Q q 0 0 0 rg BT 214.30 197.10 Td (progress ) Tj ET Q q 0 0 0 rg BT 250.13 197.10 Td (in ) Tj ET Q q 0 0 0 rg BT 259.85 197.10 Td (reinventing ) Tj ET Q q 0 0 0 rg BT 307.34 197.10 Td (ourselves. ) Tj ET Q q 0 0 0 rg BT 349.55 197.10 Td ( ) Tj ET Q q 0 0 0 rg BT 351.50 197.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 369.00 197.10 Td (balance ) Tj ET Q q 0 0 0 rg BT 401.47 197.10 Td (sheet ) Tj ET Q q 0 0 0 rg BT 423.96 197.10 Td (reflects ) Tj ET Q q 0 0 0 rg BT 455.33 197.10 Td (just ) Tj ET Q q 0 0 0 rg BT 471.73 197.10 Td (how ) Tj ET Q q 0 0 0 rg BT 490.89 197.10 Td (far ) Tj ET Q q 0 0 0 rg BT 503.94 197.10 Td (we ) Tj ET Q q 0 0 0 rg BT 517.54 197.10 Td (have ) Tj ET Q q 0 0 0 rg BT 538.36 197.10 Td (come. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 173.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 107.62 173.10 Td (was ) Tj ET Q q 0 0 0 rg BT 125.29 173.10 Td (an ) Tj ET Q q 0 0 0 rg BT 136.85 173.10 Td (event ) Tj ET Q q 0 0 0 rg BT 160.63 173.10 Td (filled ) Tj ET Q q 0 0 0 rg BT 183.86 173.10 Td (year) Tj ET Q q 0 0 0 rg BT 200.51 173.10 Td (. ) Tj ET Q q 0 0 0 rg BT 205.13 173.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 222.81 173.10 Td (vision ) Tj ET Q q 0 0 0 rg BT 249.38 173.10 Td (is ) Tj ET Q q 0 0 0 rg BT 258.17 173.10 Td (to ) Tj ET Q q 0 0 0 rg BT 268.07 173.10 Td (be ) Tj ET Q q 0 0 0 rg BT 279.63 173.10 Td (known ) Tj ET Q q 0 0 0 rg BT 308.97 173.10 Td (as ) Tj ET Q q 0 0 0 rg BT 319.42 173.10 Td (a ) Tj ET Q q 0 0 0 rg BT 325.98 173.10 Td (leader ) Tj ET Q q 0 0 0 rg BT 352.53 173.10 Td (in ) Tj ET Q q 0 0 0 rg BT 362.43 173.10 Td (small ) Tj ET Q q 0 0 0 rg BT 386.22 173.10 Td (cap ) Tj ET Q q 0 0 0 rg BT 402.21 173.10 Td (activist ) Tj ET Q q 0 0 0 rg BT 433.22 173.10 Td (investing, ) Tj ET Q q 0 0 0 rg BT 474.50 173.10 Td (with ) Tj ET Q q 0 0 0 rg BT 494.40 173.10 Td (a ) Tj ET Q q 0 0 0 rg BT 500.96 173.10 Td (relentless ) Tj ET Q q 0 0 0 rg BT 540.85 173.10 Td (focus ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 161.10 Td (on ) Tj ET Q q 0 0 0 rg BT 62.07 161.10 Td (achieving ) Tj ET Q q 0 0 0 rg BT 103.52 161.10 Td (excellence ) Tj ET Q q 0 0 0 rg BT 148.28 161.10 Td (in ) Tj ET Q q 0 0 0 rg BT 158.64 161.10 Td (our ) Tj ET Q q 0 0 0 rg BT 174.54 161.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 221.00 161.10 Td (performance. ) Tj ET Q q 0 0 0 rg BT 276.60 161.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 294.72 161.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 341.18 161.10 Td (in ) Tj ET Q q 0 0 0 rg BT 351.34 161.10 Td (T) Tj ET Q q 0 0 0 rg BT 357.10 161.10 Td (urtle ) Tj ET Q q 0 0 0 rg BT 378.00 161.10 Td (Beach ) Tj ET Q q 0 0 0 rg BT 405.56 161.10 Td (Corporation ) Tj ET Q q 0 0 0 rg BT 456.46 161.10 Td (\(NASDAQ: ) Tj ET Q q 0 0 0 rg BT 506.81 161.10 Td (HEAR\) ) Tj ET Q q 0 0 0 rg BT 539.94 161.10 Td (in ) Tj ET Q q 0 0 0 rg BT 550.29 161.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 149.10 Td (second ) Tj ET Q q 0 0 0 rg BT 79.55 149.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 110.14 149.10 Td (of ) Tj ET Q q 0 0 0 rg BT 120.75 149.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 143.03 149.10 Td (is ) Tj ET Q q 0 0 0 rg BT 151.98 149.10 Td (the ) Tj ET Q q 0 0 0 rg BT 166.48 149.10 Td (second ) Tj ET Q q 0 0 0 rg BT 196.52 149.10 Td (time ) Tj ET Q q 0 0 0 rg BT 216.58 149.10 Td (we ) Tj ET Q q 0 0 0 rg BT 230.52 149.10 Td (have ) Tj ET Q q 0 0 0 rg BT 251.67 149.10 Td (assisted ) Tj ET Q q 0 0 0 rg BT 285.06 149.10 Td (a ) Tj ET Q q 0 0 0 rg BT 291.78 149.10 Td (company ) Tj ET Q q 0 0 0 rg BT 330.71 149.10 Td (in ) Tj ET Q q 0 0 0 rg BT 340.77 149.10 Td (removing ) Tj ET Q q 0 0 0 rg BT 381.38 149.10 Td (an ) Tj ET Q q 0 0 0 rg BT 393.09 149.10 Td (overhang ) Tj ET Q q 0 0 0 rg BT 432.58 149.10 Td (to ) Tj ET Q q 0 0 0 rg BT 442.64 149.10 Td (its ) Tj ET Q q 0 0 0 rg BT 454.36 149.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 477.75 149.10 Td (price. ) Tj ET Q q 0 0 0 rg BT 502.52 149.10 Td ( ) Tj ET Q q 0 0 0 rg BT 504.63 149.10 Td (The ) Tj ET Q q 0 0 0 rg BT 522.46 149.10 Td (result ) Tj ET Q q 0 0 0 rg BT 546.95 149.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 137.10 Td (the ) Tj ET Q q 0 0 0 rg BT 63.79 137.10 Td (same: ) Tj ET Q q 0 0 0 rg BT 89.19 137.10 Td (a ) Tj ET Q q 0 0 0 rg BT 95.70 137.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 139.98 137.10 Td (shareholder ) Tj ET Q q 0 0 0 rg BT 188.70 137.10 Td (value ) Tj ET Q q 0 0 0 rg BT 212.42 137.10 Td (creation ) Tj ET Q q 0 0 0 rg BT 246.70 137.10 Td (exercise ) Tj ET Q q 0 0 0 rg BT 281.52 137.10 Td (for ) Tj ET Q q 0 0 0 rg BT 295.26 137.10 Td (HEAR ) Tj ET Q q 0 0 0 rg BT 324.55 137.10 Td (and ) Tj ET Q q 0 0 0 rg BT 341.06 137.10 Td (its ) Tj ET Q q 0 0 0 rg BT 352.58 137.10 Td (shareholders, ) Tj ET Q q 0 0 0 rg BT 407.69 137.10 Td (and ) Tj ET Q q 0 0 0 rg BT 424.20 137.10 Td (most ) Tj ET Q q 0 0 0 rg BT 445.72 137.10 Td (importantly) Tj ET Q q 0 0 0 rg BT 491.73 137.10 Td (, ) Tj ET Q q 0 0 0 rg BT 496.30 137.10 Td (for ) Tj ET Q q 0 0 0 rg BT 510.03 137.10 Td (our ) Tj ET Q q 0 0 0 rg BT 525.43 137.10 Td (Fund ) Tj ET Q q 0 0 0 rg BT 548.07 137.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 125.10 Td (our ) Tj ET Q q 0 0 0 rg BT 65.60 125.10 Td (shareholders. ) Tj ET Q q 0 0 0 rg BT 121.41 125.10 Td (Of ) Tj ET Q q 0 0 0 rg BT 134.73 125.10 Td (course, ) Tj ET Q q 0 0 0 rg BT 166.10 125.10 Td (our ) Tj ET Q q 0 0 0 rg BT 182.20 125.10 Td (first ) Tj ET Q q 0 0 0 rg BT 201.08 125.10 Td (major ) Tj ET Q q 0 0 0 rg BT 227.18 125.10 Td (active ) Tj ET Q q 0 0 0 rg BT 262.70 125.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 309.35 125.10 Td (was ) Tj ET Q q 0 0 0 rg BT 327.47 125.10 Td (TST) Tj ET Q q 0 0 0 rg BT 344.51 125.10 Td (. ) Tj ET Q q 0 0 0 rg BT 349.58 125.10 Td (W) Tj ET Q q 0 0 0 rg BT 358.22 125.10 Td (e ) Tj ET Q q 0 0 0 rg BT 365.43 125.10 Td (have ) Tj ET Q q 0 0 0 rg BT 387.08 125.10 Td (achieved ) Tj ET Q q 0 0 0 rg BT 425.38 125.10 Td (a ) Tj ET Q q 0 0 0 rg BT 432.59 125.10 Td (100% ) Tj ET Q q 0 0 0 rg BT 458.69 125.10 Td (unrealized ) Tj ET Q q 0 0 0 rg BT 503.10 125.10 Td (return ) Tj ET Q q 0 0 0 rg BT 529.75 125.10 Td (over ) Tj ET Q q 0 0 0 rg BT 550.29 125.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 113.10 Td (last ) Tj ET Q q 0 0 0 rg BT 65.89 113.10 Td (13 ) Tj ET Q q 0 0 0 rg BT 78.39 113.10 Td (months ) Tj ET Q q 0 0 0 rg BT 110.33 113.10 Td (on ) Tj ET Q q 0 0 0 rg BT 122.83 113.10 Td (our ) Tj ET Q q 0 0 0 rg BT 138.67 113.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 185.05 113.10 Td (in ) Tj ET Q q 0 0 0 rg BT 195.14 113.10 Td (TST) Tj ET Q q 0 0 0 rg BT 212.37 113.10 Td (; ) Tj ET Q q 0 0 0 rg BT 217.65 113.10 Td (which ) Tj ET Q q 0 0 0 rg BT 244.59 113.10 Td (is ) Tj ET Q q 0 0 0 rg BT 253.76 113.10 Td (evidence ) Tj ET Q q 0 0 0 rg BT 291.79 113.10 Td (of ) Tj ET Q q 0 0 0 rg BT 302.62 113.10 Td (our ) Tj ET Q q 0 0 0 rg BT 318.45 113.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 346.50 113.10 Td (to ) Tj ET Q q 0 0 0 rg BT 356.78 113.10 Td (help ) Tj ET Q q 0 0 0 rg BT 376.50 113.10 Td (a ) Tj ET Q q 0 0 0 rg BT 383.44 113.10 Td (company ) Tj ET Q q 0 0 0 rg BT 422.59 113.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 457.84 113.10 Td (shareholder ) Tj ET Q q 0 0 0 rg BT 506.99 113.10 Td (value. ) Tj ET Q endstream endobj 11 0 obj <> endobj 12 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 24.60 Td (5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 749.10 Td (A) Tj ET Q q 0 0 0 rg BT 92.17 749.10 Td ( ) Tj ET Q q 0 0 0 rg BT 94.67 749.10 Td (picture ) Tj ET Q q 0 0 0 rg BT 124.93 749.10 Td (tells ) Tj ET Q q 0 0 0 rg BT 144.10 749.10 Td (a ) Tj ET Q q 0 0 0 rg BT 151.04 749.10 Td (thousand ) Tj ET Q q 0 0 0 rg BT 189.65 749.10 Td (words. ) Tj ET Q q 0 0 0 rg BT 218.91 749.10 Td (T) Tj ET Q q 0 0 0 rg BT 224.32 749.10 Td (ake ) Tj ET Q q 0 0 0 rg BT 240.70 749.10 Td (a ) Tj ET Q q 0 0 0 rg BT 247.63 749.10 Td (look ) Tj ET Q q 0 0 0 rg BT 267.91 749.10 Td (at ) Tj ET Q q 0 0 0 rg BT 277.63 749.10 Td (the ) Tj ET Q q 0 0 0 rg BT 292.35 749.10 Td (next ) Tj ET Q q 0 0 0 rg BT 312.06 749.10 Td (two ) Tj ET Q q 0 0 0 rg BT 329.56 749.10 Td (tables. ) Tj ET Q /GS0 gs q 455.00 0 0 168.00 78.50 564.10 cm /I1 Do Q BT /F1 10.00 Tf ET /GS0 gs q 435.00 0 0 258.00 88.50 289.10 cm /I2 Do Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 265.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 103.54 265.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 127.13 265.10 Td (picking ) Tj ET Q q 0 0 0 rg BT 159.61 265.10 Td (has ) Tj ET Q q 0 0 0 rg BT 175.43 265.10 Td (been ) Tj ET Q q 0 0 0 rg BT 196.79 265.10 Td (very ) Tj ET Q q 0 0 0 rg BT 217.04 265.10 Td (good, ) Tj ET Q q 0 0 0 rg BT 242.03 265.10 Td (and ) Tj ET Q q 0 0 0 rg BT 258.95 265.10 Td (it ) Tj ET Q q 0 0 0 rg BT 266.99 265.10 Td (has ) Tj ET Q q 0 0 0 rg BT 282.81 265.10 Td (been ) Tj ET Q q 0 0 0 rg BT 304.17 265.10 Td (very ) Tj ET Q q 0 0 0 rg BT 324.43 265.10 Td (good ) Tj ET Q q 0 0 0 rg BT 346.91 265.10 Td (in ) Tj ET Q q 0 0 0 rg BT 357.17 265.10 Td (two ) Tj ET Q q 0 0 0 rg BT 374.66 265.10 Td (entirely ) Tj ET Q q 0 0 0 rg BT 407.69 265.10 Td (dif) Tj ET Q q 0 0 0 rg BT 418.62 265.10 Td (ferent ) Tj ET Q q 0 0 0 rg BT 444.42 265.10 Td (markets ) Tj ET Q q 0 0 0 rg BT 478.56 265.10 Td (\(2017 ) Tj ET Q q 0 0 0 rg BT 504.37 265.10 Td (and ) Tj ET Q q 0 0 0 rg BT 521.30 265.10 Td (2018\). ) Tj ET Q q 0 0 0 rg BT 549.43 265.10 Td (W) Tj ET Q q 0 0 0 rg BT 558.07 265.10 Td (e ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 253.10 Td (have ) Tj ET Q q 0 0 0 rg BT 71.61 253.10 Td (drastically ) Tj ET Q q 0 0 0 rg BT 116.49 253.10 Td (reduced ) Tj ET Q q 0 0 0 rg BT 151.37 253.10 Td (our ) Tj ET Q q 0 0 0 rg BT 167.93 253.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 203.37 253.10 Td (base, ) Tj ET Q q 0 0 0 rg BT 226.87 253.10 Td (raised ) Tj ET Q q 0 0 0 rg BT 253.98 253.10 Td (money ) Tj ET Q q 0 0 0 rg BT 284.43 253.10 Td (for ) Tj ET Q q 0 0 0 rg BT 299.32 253.10 Td (two ) Tj ET Q q 0 0 0 rg BT 317.56 253.10 Td (special ) Tj ET Q q 0 0 0 rg BT 348.55 253.10 Td (purpose ) Tj ET Q q 0 0 0 rg BT 383.45 253.10 Td (vehicles, ) Tj ET Q q 0 0 0 rg BT 421.94 253.10 Td (and ) Tj ET Q q 0 0 0 rg BT 439.61 253.10 Td (successfully ) Tj ET Q q 0 0 0 rg BT 491.72 253.10 Td (exited ) Tj ET Q q 0 0 0 rg BT 519.39 253.10 Td (two ) Tj ET Q q 0 0 0 rg BT 537.62 253.10 Td (of ) Tj ET Q q 0 0 0 rg BT 549.18 253.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 241.10 Td (private ) Tj ET Q q 0 0 0 rg BT 79.76 241.10 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 117.26 241.10 Td (companies, ) Tj ET Q q 0 0 0 rg BT 165.02 241.10 Td (MRSN ) Tj ET Q q 0 0 0 rg BT 195.87 241.10 Td (and ) Tj ET Q q 0 0 0 rg BT 212.81 241.10 Td (HZO, ) Tj ET Q q 0 0 0 rg BT 238.36 241.10 Td (through ) Tj ET Q q 0 0 0 rg BT 271.97 241.10 Td (an ) Tj ET Q q 0 0 0 rg BT 283.90 241.10 Td (IPO ) Tj ET Q q 0 0 0 rg BT 302.52 241.10 Td (and ) Tj ET Q q 0 0 0 rg BT 319.46 241.10 Td (a ) Tj ET Q q 0 0 0 rg BT 326.39 241.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 346.66 241.10 Td (sale, ) Tj ET Q q 0 0 0 rg BT 367.21 241.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 414.87 241.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 217.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.14 217.10 Td (e ) Tj ET Q q 0 0 0 rg BT 100.87 217.10 Td (were ) Tj ET Q q 0 0 0 rg BT 122.59 217.10 Td (bitterly ) Tj ET Q q 0 0 0 rg BT 153.77 217.10 Td (disappointed ) Tj ET Q q 0 0 0 rg BT 207.17 217.10 Td (in ) Tj ET Q q 0 0 0 rg BT 217.24 217.10 Td (how ) Tj ET Q q 0 0 0 rg BT 236.75 217.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 259.05 217.10 Td (ended, ) Tj ET Q q 0 0 0 rg BT 287.72 217.10 Td (but ) Tj ET Q q 0 0 0 rg BT 302.79 217.10 Td (we ) Tj ET Q q 0 0 0 rg BT 316.75 217.10 Td (take ) Tj ET Q q 0 0 0 rg BT 335.69 217.10 Td (solace ) Tj ET Q q 0 0 0 rg BT 362.97 217.10 Td (in ) Tj ET Q q 0 0 0 rg BT 373.05 217.10 Td (the ) Tj ET Q q 0 0 0 rg BT 387.56 217.10 Td (notion ) Tj ET Q q 0 0 0 rg BT 415.41 217.10 Td (that ) Tj ET Q q 0 0 0 rg BT 432.70 217.10 Td (we ) Tj ET Q q 0 0 0 rg BT 446.65 217.10 Td (grew ) Tj ET Q q 0 0 0 rg BT 468.93 217.10 Td (our ) Tj ET Q q 0 0 0 rg BT 484.56 217.10 Td (net ) Tj ET Q q 0 0 0 rg BT 499.07 217.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 520.80 217.10 Td (value ) Tj ET Q q 0 0 0 rg BT 544.75 217.10 Td (over ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 205.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.08 205.10 Td (entirety ) Tj ET Q q 0 0 0 rg BT 96.99 205.10 Td (of ) Tj ET Q q 0 0 0 rg BT 107.68 205.10 Td (2018. ) Tj ET Q q 0 0 0 rg BT 132.55 205.10 Td ( ) Tj ET Q q 0 0 0 rg BT 134.74 205.10 Td (W) Tj ET Q q 0 0 0 rg BT 143.38 205.10 Td (e ) Tj ET Q q 0 0 0 rg BT 150.18 205.10 Td (think ) Tj ET Q q 0 0 0 rg BT 173.10 205.10 Td (from ) Tj ET Q q 0 0 0 rg BT 194.91 205.10 Td (that ) Tj ET Q q 0 0 0 rg BT 212.27 205.10 Td (perspective, ) Tj ET Q q 0 0 0 rg BT 262.66 205.10 Td (we ) Tj ET Q q 0 0 0 rg BT 276.69 205.10 Td (were ) Tj ET Q q 0 0 0 rg BT 298.48 205.10 Td (an ) Tj ET Q q 0 0 0 rg BT 310.29 205.10 Td (outlier) Tj ET Q q 0 0 0 rg BT 335.99 205.10 Td (, ) Tj ET Q q 0 0 0 rg BT 340.85 205.10 Td (as ) Tj ET Q q 0 0 0 rg BT 351.55 205.10 Td (not ) Tj ET Q q 0 0 0 rg BT 366.69 205.10 Td (many ) Tj ET Q q 0 0 0 rg BT 391.27 205.10 Td (funds ) Tj ET Q q 0 0 0 rg BT 415.86 205.10 Td (were ) Tj ET Q q 0 0 0 rg BT 437.65 205.10 Td (up ) Tj ET Q q 0 0 0 rg BT 450.02 205.10 Td (last ) Tj ET Q q 0 0 0 rg BT 466.27 205.10 Td (year) Tj ET Q q 0 0 0 rg BT 482.92 205.10 Td (. ) Tj ET Q q 0 0 0 rg BT 487.79 205.10 Td (Being ) Tj ET Q q 0 0 0 rg BT 514.04 205.10 Td (amongst ) Tj ET Q q 0 0 0 rg BT 550.29 205.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 193.10 Td (ones ) Tj ET Q q 0 0 0 rg BT 69.50 193.10 Td (that ) Tj ET Q q 0 0 0 rg BT 86.17 193.10 Td (were ) Tj ET Q q 0 0 0 rg BT 107.28 193.10 Td (on ) Tj ET Q q 0 0 0 rg BT 118.95 193.10 Td (the ) Tj ET Q q 0 0 0 rg BT 132.84 193.10 Td (positive ) Tj ET Q q 0 0 0 rg BT 166.18 193.10 Td (side ) Tj ET Q q 0 0 0 rg BT 183.97 193.10 Td (of ) Tj ET Q q 0 0 0 rg BT 193.97 193.10 Td (the ) Tj ET Q q 0 0 0 rg BT 207.86 193.10 Td (ledger ) Tj ET Q q 0 0 0 rg BT 234.52 193.10 Td (is ) Tj ET Q q 0 0 0 rg BT 242.87 193.10 Td (a ) Tj ET Q q 0 0 0 rg BT 248.98 193.10 Td (very ) Tj ET Q q 0 0 0 rg BT 268.43 193.10 Td (positive ) Tj ET Q q 0 0 0 rg BT 301.77 193.10 Td (outcome. ) Tj ET Q q 0 0 0 rg BT 340.37 193.10 Td ( ) Tj ET Q q 0 0 0 rg BT 341.93 193.10 Td (The ) Tj ET Q q 0 0 0 rg BT 359.15 193.10 Td (dislocation ) Tj ET Q q 0 0 0 rg BT 404.71 193.10 Td (in ) Tj ET Q q 0 0 0 rg BT 414.16 193.10 Td (Q4 ) Tj ET Q q 0 0 0 rg BT 428.06 193.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 449.73 193.10 Td (created ) Tj ET Q q 0 0 0 rg BT 480.27 193.10 Td (buying ) Tj ET Q q 0 0 0 rg BT 509.72 193.10 Td (opportunities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 181.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.31 181.10 Td (both ) Tj ET Q q 0 0 0 rg BT 80.57 181.10 Td (old ) Tj ET Q q 0 0 0 rg BT 95.83 181.10 Td (and ) Tj ET Q q 0 0 0 rg BT 112.75 181.10 Td (new ) Tj ET Q q 0 0 0 rg BT 131.89 181.10 Td (positions. ) Tj ET Q q 0 0 0 rg BT 172.99 181.10 Td ( ) Tj ET Q q 0 0 0 rg BT 175.29 181.10 Td (While ) Tj ET Q q 0 0 0 rg BT 202.20 181.10 Td (we ) Tj ET Q q 0 0 0 rg BT 216.34 181.10 Td (don) Tj ET Q q 0 0 0 rg BT 234.49 181.10 Td (t ) Tj ET Q q 0 0 0 rg BT 239.75 181.10 Td (know ) Tj ET Q q 0 0 0 rg BT 264.45 181.10 Td (how ) Tj ET Q q 0 0 0 rg BT 284.15 181.10 Td (long ) Tj ET Q q 0 0 0 rg BT 304.41 181.10 Td (the ) Tj ET Q q 0 0 0 rg BT 319.11 181.10 Td (current ) Tj ET Q q 0 0 0 rg BT 349.91 181.10 Td (unwind ) Tj ET Q q 0 0 0 rg BT 382.39 181.10 Td (of ) Tj ET Q q 0 0 0 rg BT 393.20 181.10 Td (technology-related ) Tj ET Q q 0 0 0 rg BT 470.64 181.10 Td (companies ) Tj ET Q q 0 0 0 rg BT 515.89 181.10 Td (due ) Tj ET Q q 0 0 0 rg BT 532.81 181.10 Td (to ) Tj ET Q q 0 0 0 rg BT 543.07 181.10 Td (fears ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 169.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.43 169.10 Td (a ) Tj ET Q q 0 0 0 rg BT 67.48 169.10 Td (trade ) Tj ET Q q 0 0 0 rg BT 90.07 169.10 Td (war ) Tj ET Q q 0 0 0 rg BT 107.66 169.10 Td (with ) Tj ET Q q 0 0 0 rg BT 128.04 169.10 Td (China ) Tj ET Q q 0 0 0 rg BT 154.53 169.10 Td (will ) Tj ET Q q 0 0 0 rg BT 172.69 169.10 Td (last, ) Tj ET Q q 0 0 0 rg BT 191.68 169.10 Td (many ) Tj ET Q q 0 0 0 rg BT 216.51 169.10 Td (stocks ) Tj ET Q q 0 0 0 rg BT 244.11 169.10 Td (have ) Tj ET Q q 0 0 0 rg BT 265.59 169.10 Td (now ) Tj ET Q q 0 0 0 rg BT 285.42 169.10 Td (discounted ) Tj ET Q q 0 0 0 rg BT 331.35 169.10 Td (the ) Tj ET Q q 0 0 0 rg BT 346.17 169.10 Td (bad ) Tj ET Q q 0 0 0 rg BT 363.21 169.10 Td (news. ) Tj ET Q q 0 0 0 rg BT 388.86 169.10 Td ( ) Tj ET Q q 0 0 0 rg BT 390.89 169.10 Td (As ) Tj ET Q q 0 0 0 rg BT 404.61 169.10 Td (we ) Tj ET Q q 0 0 0 rg BT 418.88 169.10 Td (look ) Tj ET Q q 0 0 0 rg BT 439.26 169.10 Td (at ) Tj ET Q q 0 0 0 rg BT 449.08 169.10 Td (our ) Tj ET Q q 0 0 0 rg BT 465.01 169.10 Td (portfolio, ) Tj ET Q q 0 0 0 rg BT 505.11 169.10 Td (we ) Tj ET Q q 0 0 0 rg BT 519.38 169.10 Td (have ) Tj ET Q q 0 0 0 rg BT 540.86 169.10 Td (made ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 157.10 Td (a ) Tj ET Q q 0 0 0 rg BT 56.55 157.10 Td (conscious ) Tj ET Q q 0 0 0 rg BT 98.60 157.10 Td (decision ) Tj ET Q q 0 0 0 rg BT 134.54 157.10 Td (to ) Tj ET Q q 0 0 0 rg BT 144.94 157.10 Td (be ) Tj ET Q q 0 0 0 rg BT 156.99 157.10 Td (long ) Tj ET Q q 0 0 0 rg BT 177.38 157.10 Td (those ) Tj ET Q q 0 0 0 rg BT 201.10 157.10 Td (companies ) Tj ET Q q 0 0 0 rg BT 246.48 157.10 Td (that ) Tj ET Q q 0 0 0 rg BT 264.09 157.10 Td (we ) Tj ET Q q 0 0 0 rg BT 278.36 157.10 Td (believe ) Tj ET Q q 0 0 0 rg BT 309.85 157.10 Td (will ) Tj ET Q q 0 0 0 rg BT 328.02 157.10 Td (benefit ) Tj ET Q q 0 0 0 rg BT 358.40 157.10 Td (from ) Tj ET Q q 0 0 0 rg BT 380.45 157.10 Td (IoT) Tj ET Q q 0 0 0 rg BT 394.71 157.10 Td ( ) Tj ET Q q 0 0 0 rg BT 397.32 157.10 Td (growth. ) Tj ET Q q 0 0 0 rg BT 430.76 157.10 Td ( ) Tj ET Q q 0 0 0 rg BT 433.38 157.10 Td (Many ) Tj ET Q q 0 0 0 rg BT 459.32 157.10 Td (of ) Tj ET Q q 0 0 0 rg BT 470.27 157.10 Td (those ) Tj ET Q q 0 0 0 rg BT 493.99 157.10 Td (names ) Tj ET Q q 0 0 0 rg BT 522.15 157.10 Td (have ) Tj ET Q q 0 0 0 rg BT 543.64 157.10 Td (been ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 145.10 Td (hurt ) Tj ET Q q 0 0 0 rg BT 67.69 145.10 Td (in ) Tj ET Q q 0 0 0 rg BT 77.54 145.10 Td (recent ) Tj ET Q q 0 0 0 rg BT 104.04 145.10 Td (months. ) Tj ET Q q 0 0 0 rg BT 138.07 145.10 Td ( ) Tj ET Q q 0 0 0 rg BT 139.99 145.10 Td (W) Tj ET Q q 0 0 0 rg BT 148.63 145.10 Td (e ) Tj ET Q q 0 0 0 rg BT 155.14 145.10 Td (think ) Tj ET Q q 0 0 0 rg BT 177.78 145.10 Td (the ) Tj ET Q q 0 0 0 rg BT 192.07 145.10 Td (fundamental ) Tj ET Q q 0 0 0 rg BT 244.13 145.10 Td (underpinnings ) Tj ET Q q 0 0 0 rg BT 303.42 145.10 Td (and ) Tj ET Q q 0 0 0 rg BT 319.94 145.10 Td (secular ) Tj ET Q q 0 0 0 rg BT 350.33 145.10 Td (trends ) Tj ET Q q 0 0 0 rg BT 376.84 145.10 Td (of ) Tj ET Q q 0 0 0 rg BT 387.25 145.10 Td (the ) Tj ET Q q 0 0 0 rg BT 401.54 145.10 Td (IoT) Tj ET Q q 0 0 0 rg BT 415.80 145.10 Td ( ) Tj ET Q q 0 0 0 rg BT 417.88 145.10 Td (market ) Tj ET Q q 0 0 0 rg BT 447.72 145.10 Td (are ) Tj ET Q q 0 0 0 rg BT 462.00 145.10 Td (sound. ) Tj ET Q q 0 0 0 rg BT 490.32 145.10 Td (W) Tj ET Q q 0 0 0 rg BT 498.96 145.10 Td (e ) Tj ET Q q 0 0 0 rg BT 505.47 145.10 Td (also ) Tj ET Q q 0 0 0 rg BT 523.66 145.10 Td (recognize ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 133.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.23 133.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 87.86 133.10 Td (market ) Tj ET Q q 0 0 0 rg BT 118.14 133.10 Td (and ) Tj ET Q q 0 0 0 rg BT 135.09 133.10 Td (economic ) Tj ET Q q 0 0 0 rg BT 176.48 133.10 Td (growth ) Tj ET Q q 0 0 0 rg BT 207.33 133.10 Td (have ) Tj ET Q q 0 0 0 rg BT 228.72 133.10 Td (been ) Tj ET Q q 0 0 0 rg BT 250.11 133.10 Td (rising ) Tj ET Q q 0 0 0 rg BT 275.41 133.10 Td (for ) Tj ET Q q 0 0 0 rg BT 289.58 133.10 Td (10 ) Tj ET Q q 0 0 0 rg BT 302.10 133.10 Td (years. ) Tj ET Q q 0 0 0 rg BT 328.21 133.10 Td ( ) Tj ET Q q 0 0 0 rg BT 330.73 133.10 Td (Simply ) Tj ET Q q 0 0 0 rg BT 362.14 133.10 Td (put, ) Tj ET Q q 0 0 0 rg BT 379.94 133.10 Td (there ) Tj ET Q q 0 0 0 rg BT 402.44 133.10 Td (is ) Tj ET Q q 0 0 0 rg BT 411.62 133.10 Td (less ) Tj ET Q q 0 0 0 rg BT 429.14 133.10 Td (value ) Tj ET Q q 0 0 0 rg BT 453.31 133.10 Td (today ) Tj ET Q q 0 0 0 rg BT 478.04 133.10 Td (than ) Tj ET Q q 0 0 0 rg BT 497.78 133.10 Td (there ) Tj ET Q q 0 0 0 rg BT 520.28 133.10 Td (was, ) Tj ET Q q 0 0 0 rg BT 540.85 133.10 Td (when ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 121.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.22 121.10 Td (bull ) Tj ET Q q 0 0 0 rg BT 82.27 121.10 Td (market ) Tj ET Q q 0 0 0 rg BT 112.54 121.10 Td (started. ) Tj ET Q q 0 0 0 rg BT 144.19 121.10 Td (But ) Tj ET Q q 0 0 0 rg BT 161.14 121.10 Td (given ) Tj ET Q q 0 0 0 rg BT 185.86 121.10 Td (the ) Tj ET Q q 0 0 0 rg BT 200.57 121.10 Td (outright ) Tj ET Q q 0 0 0 rg BT 234.74 121.10 Td (wipeout ) Tj ET Q q 0 0 0 rg BT 269.46 121.10 Td (in ) Tj ET Q q 0 0 0 rg BT 279.73 121.10 Td (Q4 ) Tj ET Q q 0 0 0 rg BT 294.46 121.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 319.46 121.10 Td (we ) Tj ET Q q 0 0 0 rg BT 333.62 121.10 Td (are ) Tj ET Q q 0 0 0 rg BT 348.32 121.10 Td (very ) Tj ET Q q 0 0 0 rg BT 368.59 121.10 Td (optimistic ) Tj ET Q q 0 0 0 rg BT 411.09 121.10 Td (about ) Tj ET Q q 0 0 0 rg BT 435.81 121.10 Td (what ) Tj ET Q q 0 0 0 rg BT 457.75 121.10 Td (we ) Tj ET Q q 0 0 0 rg BT 471.91 121.10 Td (own ) Tj ET Q q 0 0 0 rg BT 491.63 121.10 Td (as ) Tj ET Q q 0 0 0 rg BT 502.46 121.10 Td (we ) Tj ET Q q 0 0 0 rg BT 516.62 121.10 Td (start ) Tj ET Q q 0 0 0 rg BT 536.34 121.10 Td (2019. ) Tj ET Q /GS0 gs q 108.00 0 0 33.00 49.50 71.10 cm /I3 Do Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 59.10 Td (Kevin ) Tj ET Q q 0 0 0 rg BT 76.44 59.10 Td (Rendino) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 47.10 Td (Chairman ) Tj ET Q q 0 0 0 rg BT 91.43 47.10 Td (and ) Tj ET Q q 0 0 0 rg BT 108.37 47.10 Td (Chief ) Tj ET Q q 0 0 0 rg BT 133.09 47.10 Td (Executive ) Tj ET Q q 0 0 0 rg BT 175.57 47.10 Td (Of) Tj ET Q q 0 0 0 rg BT 185.94 47.10 Td (ficer) Tj ET Q endstream endobj 13 0 obj <> endobj 14 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.30 31.60 Td (The accompanying notes are an integral part of these consolidated financial statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 19.60 Td (6) Tj ET Q 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 748.5 m 50.5 724.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 562.5 748.5 m 562.5 724.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 748.5 m 562.5 748.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 724.5 m 562.5 724.5 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 236.80 739.18 Td (180 DEGREE CAPIT) Tj ET Q q 0 0 0 rg BT 329.40 739.18 Td (AL) Tj ET Q q 0 0 0 rg BT 342.74 739.18 Td ( CORP) Tj ET Q q 0 0 0 rg BT 372.65 739.18 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 162.45 729.18 Td (CONSOLIDA) Tj ET Q q 0 0 0 rg BT 222.27 729.18 Td (TED ST) Tj ET Q q 0 0 0 rg BT 256.82 729.18 Td (A) Tj ET Q q 0 0 0 rg BT 263.30 729.18 Td (TEMENT) Tj ET Q q 0 0 0 rg BT 306.46 729.18 Td ( OF) Tj ET Q q 0 0 0 rg BT 322.48 729.18 Td ( ) Tj ET Q q 0 0 0 rg BT 324.43 729.18 Td (ASSETS ) Tj ET Q q 0 0 0 rg BT 363.62 729.18 Td (AND LIABILITIES) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 701.50 422.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 701.50 90.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 664.50 422.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 664.50 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 636.50 422.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 636.50 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 608.50 422.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 608.50 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 580.50 422.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 580.50 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 552.50 422.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 552.50 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 524.50 422.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 524.50 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 496.50 422.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 496.50 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 468.50 422.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 468.50 90.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 431.50 422.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 431.50 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 403.50 422.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 403.50 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 375.50 422.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 375.50 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 347.50 422.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 347.50 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 319.50 422.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 319.50 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 291.50 422.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 291.50 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 263.50 422.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 263.50 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 235.50 422.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 235.50 90.00 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222.5 m 561.5 222.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 220.5 m 561.5 220.5 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 705.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 477.35 705.23 Td (December) Tj ET Q q 0 0 0 rg BT 520.48 705.23 Td ( 31, 2018) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 241.35 686.16259765625 m 278.59609375 686.16259765625 l s q 0 0 0 rg BT 241.35 687.73 Td (ASSETS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.00 687.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 669.07 Td (Investments in portfolio securities, at value:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.00 669.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 655.07 Td (Unaf) Tj ET Q q 0 0 0 rg BT 77.90 655.07 Td (filiated privately held companies \(cost: $14,631,1) Tj ET Q q 0 0 0 rg BT 276.18 655.07 Td (17\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.00 655.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.65 655.07 Td (16,139,296) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 641.07 Td (Unaf) Tj ET Q q 0 0 0 rg BT 77.90 641.07 Td (filiated publicly traded securities \(cost: $18,556,002\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.65 641.07 Td (13,032,576) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 627.07 Td (Non-controlled af) Tj ET Q q 0 0 0 rg BT 129.27 627.07 Td (filiated privately held companies \(cost: $27,027,538\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.65 627.07 Td (26,429,303) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 613.07 Td (Non-controlled af) Tj ET Q q 0 0 0 rg BT 129.27 613.07 Td (filiated publicly traded securities \(cost: $9,288,130\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.65 613.07 Td (1) Tj ET Q q 0 0 0 rg BT 517.65 613.07 Td (1,907,377) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 599.07 Td (Controlled af) Tj ET Q q 0 0 0 rg BT 110.95 599.07 Td (filiated privately held companies \(cost: $12,267,175\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 599.07 Td (5,271,414) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 585.07 Td (Equity method privately held company \(adjusted cost basis: $246,229\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 585.07 Td (246,229) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 571.07 Td (Unaf) Tj ET Q q 0 0 0 rg BT 77.81 571.07 Td (filiated rights to payments \(adjusted cost basis: $548,998\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 571.07 Td (2,019,283) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 557.07 Td (Cash) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 557.07 Td (7,801,712) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 543.07 Td (Restricted cash) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 543.07 Td (46,151) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 529.07 Td (Interest receivable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 529.07 Td (661,677) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 515.07 Td (Prepaid expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 515.07 Td (259,359) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 501.07 Td (Receivable from portfolio companies and managed funds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 501.07 Td (106,662) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 487.07 Td (Other assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 487.07 Td (132,015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 473.18 Td (T) Tj ET Q q 0 0 0 rg BT 58.21 473.18 Td (otal assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.00 473.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.65 473.07 Td (84,053,054) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 192.65 453.16259765625 m 327.2544921875 453.16259765625 l s q 0 0 0 rg BT 192.65 454.73 Td (LIABILITIES & NET) Tj ET Q q 0 0 0 rg BT 288.06 454.73 Td ( ) Tj ET Q q 0 0 0 rg BT 290.01 454.73 Td (ASSETS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.00 450.18 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 436.07 Td (Post-retirement plan liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.00 436.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 436.07 Td (1,140,406) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 422.07 Td (Accounts payable and accrued liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 422.07 Td (732,324) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 408.07 Td (Payable for securities purchased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 408.07 Td (92,371) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 394.07 Td (Deferred rent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 394.07 Td (53,185) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 380.18 Td (T) Tj ET Q q 0 0 0 rg BT 58.21 380.18 Td (otal liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.00 380.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 380.07 Td (2,018,286) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 366.07 Td (Commitments and contingencies \(Note 10\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.00 366.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 352.18 Td (Net assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.00 352.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.65 352.07 Td (82,034,768) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 338.18 Td (Net assets ar) Tj ET Q q 0 0 0 rg BT 105.78 338.18 Td (e comprised of:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.00 338.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 324.07 Td (Preferred stock, $0.10 par value, 2,000,000 shares authorized; none issued) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.00 324.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 324.07 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 310.07 Td (Common stock, $0.01 par value, 45,000,000 shares authorized; 34,623,341 issued) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 310.07 Td (334,594) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 296.07 Td (Additional paid in capital) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.65 296.07 Td (127,652,787) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 282.07 Td (T) Tj ET Q q 0 0 0 rg BT 57.41 282.07 Td (otal distributable loss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.30 282.12 Td (\(41,347,088) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 282.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 268.07 Td (T) Tj ET Q q 0 0 0 rg BT 57.76 268.07 Td (reasury stock, at cost 3,501,779 shares) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.30 268.12 Td (\(4,605,525) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 268.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 254.18 Td (Net assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.00 254.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.65 254.07 Td (82,034,768) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 240.18 Td (Shar) Tj ET Q q 0 0 0 rg BT 72.47 240.18 Td (es outstanding) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.65 240.07 Td (31,121,562) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 226.18 Td (Net asset value per) Tj ET Q q 0 0 0 rg BT 132.08 226.18 Td ( outstanding shar) Tj ET Q q 0 0 0 rg BT 206.37 226.18 Td (e) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.00 226.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 226.07 Td (2.64) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 210.00 Td () Tj ET Q endstream endobj 15 0 obj <> endobj 16 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.30 31.60 Td (The accompanying notes are an integral part of these consolidated financial statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 19.60 Td (7) Tj ET Q 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 748.5 m 50.5 725.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 562.5 748.5 m 562.5 725.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 748.5 m 562.5 748.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 725.5 m 562.5 725.5 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 236.80 739.23 Td (180 DEGREE CAPIT) Tj ET Q q 0 0 0 rg BT 329.40 739.23 Td (AL) Tj ET Q q 0 0 0 rg BT 342.74 739.23 Td ( CORP) Tj ET Q q 0 0 0 rg BT 372.65 739.23 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 192.00 729.23 Td (CONSOLIDA) Tj ET Q q 0 0 0 rg BT 251.82 729.23 Td (TED ST) Tj ET Q q 0 0 0 rg BT 286.38 729.23 Td (A) Tj ET Q q 0 0 0 rg BT 292.85 729.23 Td (TEMENT) Tj ET Q q 0 0 0 rg BT 336.01 729.23 Td ( OF) Tj ET Q q 0 0 0 rg BT 352.03 729.23 Td ( OPERA) Tj ET Q q 0 0 0 rg BT 388.79 729.23 Td (TIONS) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 691.50 422.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 691.50 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 664.50 422.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 664.50 90.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 638.50 422.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 638.50 90.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 612.50 422.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 612.50 90.00 -13.00 re f /GS0 gs 0.8 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0.9333333333333333 1 rg /GS0 gs 471.50 428.50 90.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 402.50 422.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 402.50 90.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 375.50 422.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 375.50 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 348.50 422.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 348.50 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 321.50 422.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 321.50 90.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 295.50 422.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 295.50 90.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 269.50 422.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 269.50 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 242.50 422.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 242.50 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 215.50 422.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 215.50 90.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 189.50 422.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 189.50 90.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 163.50 422.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 163.50 90.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 137.50 422.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 137.50 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 109.50 422.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 109.50 90.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 521.5 m 561.5 521.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 521.5 m 561.5 521.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 507.5 m 561.5 507.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 389.5 m 561.5 389.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 375.5 m 561.5 375.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 375.5 m 561.5 375.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 361.5 m 561.5 361.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 361.5 m 561.5 361.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 348.5 m 561.5 348.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 348.5 m 561.5 348.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 334.5 m 561.5 334.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 269.5 m 561.5 269.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 255.5 m 561.5 255.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 242.5 m 561.5 242.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 228.5 m 561.5 228.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 137.5 m 561.5 137.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 123.5 m 561.5 123.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 109.5 m 561.5 109.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 95.5 m 561.5 95.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 82.5 m 561.5 82.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 80.5 m 561.5 80.5 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 507.85 706.18 Td (Y) Tj ET Q q 0 0 0 rg BT 513.96 706.18 Td (ear) Tj ET Q q 0 0 0 rg BT 527.66 706.18 Td ( Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 477.35 696.18 Td (December) Tj ET Q q 0 0 0 rg BT 520.48 696.18 Td ( 31, 2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 682.18 Td (Income:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.00 682.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 668.07 Td (Interest ) Tj ET Q q 0 0 0 rg BT 84.49 668.07 Td (from:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.00 668.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 655.07 Td (Unaf) Tj ET Q q 0 0 0 rg BT 77.90 655.07 Td (filiated companies-cash) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.00 655.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 655.07 Td (19,206) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 642.07 Td (Unaf) Tj ET Q q 0 0 0 rg BT 77.90 642.07 Td (filiated companies-PIK) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 642.07 Td (17,883) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 629.07 Td (Non-controlled af) Tj ET Q q 0 0 0 rg BT 129.27 629.07 Td (filiated companies-cash) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.80 629.12 Td (\(49,562) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 629.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 616.07 Td (Non-controlled af) Tj ET Q q 0 0 0 rg BT 129.27 616.07 Td (filiated companies-PIK) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 616.07 Td (16,219) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 603.07 Td (Controlled af) Tj ET Q q 0 0 0 rg BT 110.95 603.07 Td (filiated companies-PIK) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 603.07 Td (25,569) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 590.07 Td (Cash and U.S. government securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 590.07 Td (19,018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 577.07 Td (Y) Tj ET Q q 0 0 0 rg BT 58.95 577.07 Td (ield ) Tj ET Q q 0 0 0 rg BT 76.17 577.07 Td (enhancing ) Tj ET Q q 0 0 0 rg BT 119.76 577.07 Td (fee ) Tj ET Q q 0 0 0 rg BT 134.47 577.07 Td (income ) Tj ET Q q 0 0 0 rg BT 166.40 577.07 Td (on ) Tj ET Q q 0 0 0 rg BT 178.90 577.07 Td (debt ) Tj ET Q q 0 0 0 rg BT 198.62 577.07 Td (securities-non-cash) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 577.07 Td (182,683) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 564.07 Td (Sub-lease ) Tj ET Q q 0 0 0 rg BT 93.38 564.07 Td (income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 564.07 Td (248,666) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 551.07 Td (Fee ) Tj ET Q q 0 0 0 rg BT 68.94 551.07 Td (income ) Tj ET Q q 0 0 0 rg BT 100.87 551.07 Td (for ) Tj ET Q q 0 0 0 rg BT 115.03 551.07 Td (providing ) Tj ET Q q 0 0 0 rg BT 156.42 551.07 Td (managerial ) Tj ET Q q 0 0 0 rg BT 203.34 551.07 Td (assistance ) Tj ET Q q 0 0 0 rg BT 245.82 551.07 Td (to ) Tj ET Q q 0 0 0 rg BT 256.10 551.07 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 293.60 551.07 Td (companies-cash) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 551.07 Td (75,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 538.07 Td (Fee ) Tj ET Q q 0 0 0 rg BT 68.94 538.07 Td (income ) Tj ET Q q 0 0 0 rg BT 100.87 538.07 Td (for ) Tj ET Q q 0 0 0 rg BT 115.03 538.07 Td (providing ) Tj ET Q q 0 0 0 rg BT 156.42 538.07 Td (managerial ) Tj ET Q q 0 0 0 rg BT 203.34 538.07 Td (assistance ) Tj ET Q q 0 0 0 rg BT 245.82 538.07 Td (to ) Tj ET Q q 0 0 0 rg BT 256.10 538.07 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 293.60 538.07 Td (companies-non-cash) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 538.07 Td (57,940) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 525.07 Td (Management ) Tj ET Q q 0 0 0 rg BT 106.70 525.07 Td (fee ) Tj ET Q q 0 0 0 rg BT 121.41 525.07 Td (income ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 525.07 Td (73,214) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 512.18 Td (T) Tj ET Q q 0 0 0 rg BT 58.21 512.18 Td (otal ) Tj ET Q q 0 0 0 rg BT 76.36 512.18 Td (income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 512.07 Td (685,836) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 498.18 Td (Operating ) Tj ET Q q 0 0 0 rg BT 98.39 498.18 Td (fees ) Tj ET Q q 0 0 0 rg BT 116.99 498.18 Td (and ) Tj ET Q q 0 0 0 rg BT 135.61 498.18 Td (expenses:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.00 498.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 484.07 Td (Salaries, bonus and benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 484.07 Td (1,464,381) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 471.07 Td (Professional) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 471.07 Td (561,650) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 458.07 Td (Directors) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 458.07 Td (277,500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 445.07 Td (Rent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 445.07 Td (252,1) Tj ET Q q 0 0 0 rg BT 547.65 445.07 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 432.07 Td (Administration and operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 432.07 Td (251,237) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 419.07 Td (Insurance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 419.07 Td (223,901) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 406.07 Td (Custody) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 406.07 Td (30,188) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 393.07 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 393.07 Td (4,885) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 380.18 Td (T) Tj ET Q q 0 0 0 rg BT 58.21 380.18 Td (otal ) Tj ET Q q 0 0 0 rg BT 76.36 380.18 Td (operating ) Tj ET Q q 0 0 0 rg BT 119.97 380.18 Td (expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 380.07 Td (3,065,852) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 366.18 Td (Net ) Tj ET Q q 0 0 0 rg BT 69.49 366.18 Td (investment ) Tj ET Q q 0 0 0 rg BT 118.65 366.18 Td (loss ) Tj ET Q q 0 0 0 rg BT 136.71 366.18 Td (befor) Tj ET Q q 0 0 0 rg BT 159.39 366.18 Td (e ) Tj ET Q q 0 0 0 rg BT 166.24 366.18 Td (income ) Tj ET Q q 0 0 0 rg BT 199.29 366.18 Td (tax ) Tj ET Q q 0 0 0 rg BT 215.12 366.18 Td (expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.30 366.12 Td (\(2,380,016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 366.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 352.07 Td (Income tax expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 352.07 Td (6,003) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 339.18 Td (Net ) Tj ET Q q 0 0 0 rg BT 69.49 339.18 Td (investment ) Tj ET Q q 0 0 0 rg BT 118.65 339.18 Td (loss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.30 339.12 Td (\(2,386,019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 339.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 325.23 Td (Net ) Tj ET Q q 0 0 0 rg BT 69.49 325.23 Td (r) Tj ET Q q 0 0 0 rg BT 73.84 325.23 Td (ealized ) Tj ET Q q 0 0 0 rg BT 105.68 325.23 Td (gain ) Tj ET Q q 0 0 0 rg BT 126.52 325.23 Td (\(loss\) ) Tj ET Q q 0 0 0 rg BT 151.24 325.23 Td (fr) Tj ET Q q 0 0 0 rg BT 158.92 325.23 Td (om ) Tj ET Q q 0 0 0 rg BT 174.66 325.23 Td (investments:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.00 325.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 312.07 Td (Realized ) Tj ET Q q 0 0 0 rg BT 89.48 312.07 Td (gain ) Tj ET Q q 0 0 0 rg BT 109.20 312.07 Td (\(loss\) ) Tj ET Q q 0 0 0 rg BT 133.92 312.07 Td (from ) Tj ET Q q 0 0 0 rg BT 155.86 312.07 Td (investments:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.00 312.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 299.07 Td (Unaf) Tj ET Q q 0 0 0 rg BT 77.90 299.07 Td (filiated publicly traded securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 299.07 Td (6,802,818) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 286.07 Td (Non-controlled af) Tj ET Q q 0 0 0 rg BT 129.27 286.07 Td (filiated privately held companies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.30 286.12 Td (\(6,882,890) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 286.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 273.07 Td (Controlled af) Tj ET Q q 0 0 0 rg BT 110.95 273.07 Td (filiated privately held companies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.30 273.12 Td (\(7,613,301) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 273.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 260.18 Td (Net ) Tj ET Q q 0 0 0 rg BT 69.49 260.18 Td (r) Tj ET Q q 0 0 0 rg BT 73.84 260.18 Td (ealized ) Tj ET Q q 0 0 0 rg BT 105.68 260.18 Td (loss ) Tj ET Q q 0 0 0 rg BT 123.74 260.18 Td (fr) Tj ET Q q 0 0 0 rg BT 131.42 260.18 Td (om ) Tj ET Q q 0 0 0 rg BT 147.16 260.18 Td (investments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.30 260.12 Td (\(7,693,373) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 260.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 246.07 Td (Realized loss from funds in escrow) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.30 246.12 Td (\(150) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 246.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 233.18 Td (Net r) Tj ET Q q 0 0 0 rg BT 73.84 233.18 Td (ealized loss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.30 233.12 Td (\(7,693,523) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 233.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 219.23 Td (Change in unr) Tj ET Q q 0 0 0 rg BT 113.50 219.23 Td (ealized \(depr) Tj ET Q q 0 0 0 rg BT 168.59 219.23 Td (eciation\) appr) Tj ET Q q 0 0 0 rg BT 228.12 219.23 Td (eciation on investments:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.00 219.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 206.07 Td (Unaf) Tj ET Q q 0 0 0 rg BT 77.90 206.07 Td (filiated privately held companies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.30 206.12 Td (\(1,369,705) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 206.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 193.07 Td (Unaf) Tj ET Q q 0 0 0 rg BT 77.90 193.07 Td (filiated publicly traded securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.30 193.12 Td (\(4,986,125) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 193.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 180.07 Td (Non-controlled af) Tj ET Q q 0 0 0 rg BT 129.27 180.07 Td (filiated privately held companies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 180.07 Td (7,512,247) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 167.07 Td (Non-controlled af) Tj ET Q q 0 0 0 rg BT 129.27 167.07 Td (filiated publicly traded securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 167.07 Td (2,038,330) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 154.07 Td (Controlled af) Tj ET Q q 0 0 0 rg BT 110.95 154.07 Td (filiated privately held companies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 154.07 Td (8,193,457) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 141.07 Td (Unaf) Tj ET Q q 0 0 0 rg BT 77.81 141.07 Td (filiated rights to payments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.80 141.12 Td (\(192,584) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 141.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 128.18 Td (Net ) Tj ET Q q 0 0 0 rg BT 69.49 128.18 Td (change ) Tj ET Q q 0 0 0 rg BT 101.99 128.18 Td (in ) Tj ET Q q 0 0 0 rg BT 112.83 128.18 Td (unr) Tj ET Q q 0 0 0 rg BT 128.30 128.18 Td (ealized ) Tj ET Q q 0 0 0 rg BT 160.14 128.18 Td (appr) Tj ET Q q 0 0 0 rg BT 180.62 128.18 Td (eciation ) Tj ET Q q 0 0 0 rg BT 216.35 128.18 Td (on ) Tj ET Q q 0 0 0 rg BT 229.41 128.18 Td (investments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.65 128.07 Td (1) Tj ET Q q 0 0 0 rg BT 517.65 128.07 Td (1,195,620) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 114.18 Td (Net ) Tj ET Q q 0 0 0 rg BT 69.49 114.18 Td (r) Tj ET Q q 0 0 0 rg BT 73.84 114.18 Td (ealized ) Tj ET Q q 0 0 0 rg BT 105.68 114.18 Td (loss ) Tj ET Q q 0 0 0 rg BT 123.74 114.18 Td (and ) Tj ET Q q 0 0 0 rg BT 142.37 114.18 Td (change ) Tj ET Q q 0 0 0 rg BT 174.87 114.18 Td (in ) Tj ET Q q 0 0 0 rg BT 185.71 114.18 Td (unr) Tj ET Q q 0 0 0 rg BT 201.18 114.18 Td (ealized ) Tj ET Q q 0 0 0 rg BT 233.02 114.18 Td (appr) Tj ET Q q 0 0 0 rg BT 253.49 114.18 Td (eciation ) Tj ET Q q 0 0 0 rg BT 289.23 114.18 Td (on ) Tj ET Q q 0 0 0 rg BT 302.29 114.18 Td (investments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 114.07 Td (3,502,097) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 100.18 Td (Shar) Tj ET Q q 0 0 0 rg BT 72.47 100.18 Td (e ) Tj ET Q q 0 0 0 rg BT 79.32 100.18 Td (of ) Tj ET Q q 0 0 0 rg BT 90.15 100.18 Td (loss ) Tj ET Q q 0 0 0 rg BT 108.21 100.18 Td (on ) Tj ET Q q 0 0 0 rg BT 121.27 100.18 Td (equity ) Tj ET Q q 0 0 0 rg BT 150.44 100.18 Td (method ) Tj ET Q q 0 0 0 rg BT 185.16 100.18 Td (investment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.80 100.12 Td (\(124,299) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 100.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 86.18 Td (Net ) Tj ET Q q 0 0 0 rg BT 69.49 86.18 Td (incr) Tj ET Q q 0 0 0 rg BT 86.53 86.18 Td (ease ) Tj ET Q q 0 0 0 rg BT 106.79 86.18 Td (in ) Tj ET Q q 0 0 0 rg BT 117.63 86.18 Td (net ) Tj ET Q q 0 0 0 rg BT 133.46 86.18 Td (assets ) Tj ET Q q 0 0 0 rg BT 160.41 86.18 Td (r) Tj ET Q q 0 0 0 rg BT 164.67 86.18 Td (esulting ) Tj ET Q q 0 0 0 rg BT 200.51 86.18 Td (fr) Tj ET Q q 0 0 0 rg BT 208.09 86.18 Td (om ) Tj ET Q q 0 0 0 rg BT 223.92 86.18 Td (operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.00 86.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 86.07 Td (991,779) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 17 0 obj <> endobj 18 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.30 31.60 Td (The accompanying notes are an integral part of these consolidated financial statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 19.60 Td (8) Tj ET Q 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 748.5 m 49.5 720.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 748.5 m 561.5 720.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 748.5 m 561.5 748.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 720.5 m 561.5 720.5 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 235.80 735.18 Td (180 DEGREE CAPIT) Tj ET Q q 0 0 0 rg BT 328.40 735.18 Td (AL) Tj ET Q q 0 0 0 rg BT 341.74 735.18 Td ( CORP) Tj ET Q q 0 0 0 rg BT 371.65 735.18 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 190.50 725.18 Td (CONSOLIDA) Tj ET Q q 0 0 0 rg BT 250.32 725.18 Td (TED ST) Tj ET Q q 0 0 0 rg BT 284.88 725.18 Td (A) Tj ET Q q 0 0 0 rg BT 291.35 725.18 Td (TEMENT) Tj ET Q q 0 0 0 rg BT 334.51 725.18 Td ( OF) Tj ET Q q 0 0 0 rg BT 350.53 725.18 Td ( CASH FLOWS) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 676.50 404.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.50 676.50 108.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 640.50 404.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.50 640.50 108.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 616.50 404.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.50 616.50 108.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 592.50 404.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.50 592.50 108.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 568.50 404.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.50 568.50 108.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 544.50 404.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.50 544.50 108.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 520.50 404.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.50 520.50 108.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 496.50 404.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.50 496.50 108.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 472.50 404.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.50 472.50 108.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 448.50 404.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.50 448.50 108.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 424.50 404.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.50 424.50 108.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 400.50 404.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.50 400.50 108.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 376.50 404.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.50 376.50 108.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 352.50 404.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.50 352.50 108.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 328.50 404.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.50 328.50 108.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 304.50 404.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.50 304.50 108.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 280.50 404.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.50 280.50 108.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 256.50 404.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.50 256.50 108.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 232.50 404.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.50 232.50 108.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 208.50 404.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.50 208.50 108.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 184.50 404.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.50 184.50 108.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 160.50 404.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.50 160.50 108.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 136.50 404.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.50 136.50 108.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 112.50 404.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.50 112.50 108.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 88.50 404.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.50 88.50 108.00 -12.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 453.5 244.5 m 561.5 244.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 453.5 232.5 m 561.5 232.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 453.5 208.5 m 561.5 208.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 453.5 196.5 m 561.5 196.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 453.5 172.5 m 561.5 172.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 453.5 161.5 m 561.5 161.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 453.5 159.5 m 561.5 159.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 453.5 124.5 m 561.5 124.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 453.5 88.5 m 561.5 88.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 453.5 77.5 m 561.5 77.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 453.5 75.5 m 561.5 75.5 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 507.85 701.23 Td (Y) Tj ET Q q 0 0 0 rg BT 513.96 701.23 Td (ear) Tj ET Q q 0 0 0 rg BT 527.66 701.23 Td ( Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 477.35 691.23 Td (December) Tj ET Q q 0 0 0 rg BT 520.48 691.23 Td ( 31, 2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 679.23 Td (Cash ) Tj ET Q q 0 0 0 rg BT 76.17 679.23 Td (flows ) Tj ET Q q 0 0 0 rg BT 100.90 679.23 Td (pr) Tj ET Q q 0 0 0 rg BT 110.81 679.23 Td (ovided ) Tj ET Q q 0 0 0 rg BT 141.56 679.23 Td (by ) Tj ET Q q 0 0 0 rg BT 154.62 679.23 Td (operating ) Tj ET Q q 0 0 0 rg BT 198.23 679.23 Td (activities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 667.12 Td (Net increase in net assets resulting from operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.00 667.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 667.12 Td (991,779) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 655.07 Td (Adjustments to reconcile net increase in net assets resulting from operations to net cash provided) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 645.07 Td (by operating activities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.00 645.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 631.12 Td (Net realized loss from investments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 631.12 Td (7,693,373) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 619.12 Td (Realized loss from funds held in escrow) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 619.12 Td (150) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 607.12 Td (Net change in unrealized appreciation on investments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.30 607.12 Td (\(1) Tj ET Q q 0 0 0 rg BT 517.63 607.12 Td (1,195,620) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 607.12 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 595.12 Td (Share of loss on equity method investee) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 595.12 Td (124,299) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 583.12 Td (Depreciation of fixed assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 583.12 Td (4,879) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 571.12 Td (Accretion of bridge note PIK interest income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.80 571.12 Td (\(59,671) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 571.12 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 559.12 Td (Y) Tj ET Q q 0 0 0 rg BT 64.95 559.12 Td (ield enhancing fee income on debt securities-non-cash) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.80 559.12 Td (\(182,683) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 559.12 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 547.12 Td (Fee income for providing managerial assistance to portfolio companies-non-cash) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.80 547.12 Td (\(57,940) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 547.12 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 535.12 Td (Purchase of U.S. government securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.30 535.12 Td (\(7,983,71) Tj ET Q q 0 0 0 rg BT 552.63 535.12 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 535.12 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 523.12 Td (Maturity of U.S. government securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 523.12 Td (7,983,71) Tj ET Q q 0 0 0 rg BT 552.65 523.12 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 511.12 Td (Purchase of equity method investee) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.80 511.12 Td (\(1) Tj ET Q q 0 0 0 rg BT 530.13 511.12 Td (13,906) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 511.12 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 499.12 Td (Purchase of unaf) Tj ET Q q 0 0 0 rg BT 125.11 499.12 Td (filiated privately held portfolio companies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.30 499.12 Td (\(1,602,368) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 499.12 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 487.12 Td (Purchase of unaf) Tj ET Q q 0 0 0 rg BT 125.11 487.12 Td (filiated publicly traded securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.30 487.12 Td (\(12,935,685) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 487.12 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 475.12 Td (Purchase of non-controlled af) Tj ET Q q 0 0 0 rg BT 176.48 475.12 Td (filiated privately held portfolio companies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.80 475.12 Td (\(245,334) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 475.12 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 463.12 Td (Purchase of non-controlled af) Tj ET Q q 0 0 0 rg BT 176.48 463.12 Td (filiated publicly traded securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.80 463.12 Td (\(665,750) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 463.12 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 451.12 Td (Purchase on controlled af) Tj ET Q q 0 0 0 rg BT 159.82 451.12 Td (filiated privately held companies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.80 451.12 Td (\(500,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 451.12 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 439.12 Td (Proceeds from sale of unaf) Tj ET Q q 0 0 0 rg BT 165.09 439.12 Td (filiated privately held companies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 439.12 Td (132,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 427.12 Td (Proceeds from sale of unaf) Tj ET Q q 0 0 0 rg BT 165.09 427.12 Td (filiated publicly traded securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.65 427.12 Td (16,728,458) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 415.12 Td (Proceeds from sale of non-controlled af) Tj ET Q q 0 0 0 rg BT 216.46 415.12 Td (filiated privately held companies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 415.12 Td (7,135,834) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 403.12 Td (Proceeds from sale of non-controlled af) Tj ET Q q 0 0 0 rg BT 216.46 403.12 Td (filiated publicly traded securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 403.12 Td (1) Tj ET Q q 0 0 0 rg BT 530.15 403.12 Td (1) Tj ET Q q 0 0 0 rg BT 535.15 403.12 Td (1,131) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 391.12 Td (Proceeds from sale of controlled af) Tj ET Q q 0 0 0 rg BT 198.13 391.12 Td (filiated privately held companies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 391.12 Td (50,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 379.12 Td (Proceeds from funds held in escrow) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 379.12 Td (12,805) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 367.23 Td (Changes ) Tj ET Q q 0 0 0 rg BT 91.17 367.23 Td (in ) Tj ET Q q 0 0 0 rg BT 102.01 367.23 Td (assets ) Tj ET Q q 0 0 0 rg BT 128.96 367.23 Td (and ) Tj ET Q q 0 0 0 rg BT 147.58 367.23 Td (liabilities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 355.12 Td (Decrease in interest receivable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 355.12 Td (49,563) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 343.12 Td (Increase on prepaid expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.80 343.12 Td (\(22,908) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 343.12 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 331.12 Td (Increase in receivable from portfolio companies and managed funds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.80 331.12 Td (\(65,910) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 331.12 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 319.12 Td (Decrease in other assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 319.12 Td (31,182) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 307.12 Td (Decrease in post-retirement plan liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.80 307.12 Td (\(198,940) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 307.12 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 295.12 Td (Decrease in accounts payable and accrued liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.80 295.12 Td (\(715,221) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 295.12 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 283.12 Td (Decrease in accrued severance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.80 283.12 Td (\(140,923) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 283.12 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 271.12 Td (Decrease in deferred rent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.80 271.12 Td (\(45,633) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 271.12 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 259.12 Td (Decrease in directors' fee payable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.80 259.12 Td (\(58,125) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 259.12 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 247.12 Td (Increase in payable for securities purchased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 247.12 Td (92,371) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 235.12 Td (Net cash provided by operating activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 235.12 Td (4,351,207) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 223.23 Td (Cash ) Tj ET Q q 0 0 0 rg BT 76.17 223.23 Td (flows ) Tj ET Q q 0 0 0 rg BT 100.90 223.23 Td (fr) Tj ET Q q 0 0 0 rg BT 108.57 223.23 Td (om ) Tj ET Q q 0 0 0 rg BT 124.31 223.23 Td (investing ) Tj ET Q q 0 0 0 rg BT 165.15 223.23 Td (activities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 211.12 Td (Purchase of fixed assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 211.12 Td (\(1,884) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 211.12 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 199.12 Td (Net cash used in investing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 199.12 Td (\(1,884) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 199.12 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 58.00 187.23 Td (Net incr) Tj ET Q q 0 0 0 rg BT 92.53 187.23 Td (ease in cash and r) Tj ET Q q 0 0 0 rg BT 167.91 187.23 Td (estricted cash) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 187.12 Td (4,349,323) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 175.12 Td (Cash and restricted cash at beginning of the year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 175.12 Td (3,498,540) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 163.12 Td (Cash and restricted cash at end of the year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.00 163.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 163.12 Td (7,847,863) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 139.23 Td (Supplemental ) Tj ET Q q 0 0 0 rg BT 113.40 139.23 Td (disclosur) Tj ET Q q 0 0 0 rg BT 151.56 139.23 Td (es ) Tj ET Q q 0 0 0 rg BT 162.39 139.23 Td (of ) Tj ET Q q 0 0 0 rg BT 173.22 139.23 Td (cash ) Tj ET Q q 0 0 0 rg BT 194.61 139.23 Td (flow ) Tj ET Q q 0 0 0 rg BT 215.44 139.23 Td (information:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 127.12 Td (Income taxes paid) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.00 127.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 127.12 Td (6,003) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 103.12 Td (Cash) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.00 103.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 103.12 Td (7,801,712) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 91.12 Td (Restricted cash) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 91.12 Td (46,151) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 79.12 Td (T) Tj ET Q q 0 0 0 rg BT 63.41 79.12 Td (otal cash and restricted cash shown in the consolidated statement of cash flows) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.00 79.12 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 79.12 Td (7,847,863) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 19 0 obj <> endobj 20 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.30 31.60 Td (The accompanying notes are an integral part of these consolidated financial statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 19.60 Td (9) Tj ET Q 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 748.5 m 49.5 725.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 748.5 m 561.5 725.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 748.5 m 561.5 748.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 725.5 m 561.5 725.5 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 235.80 739.23 Td (180 DEGREE CAPIT) Tj ET Q q 0 0 0 rg BT 328.40 739.23 Td (AL) Tj ET Q q 0 0 0 rg BT 341.74 739.23 Td ( CORP) Tj ET Q q 0 0 0 rg BT 371.65 739.23 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 158.25 729.23 Td (CONSOLIDA) Tj ET Q q 0 0 0 rg BT 218.07 729.23 Td (TED ST) Tj ET Q q 0 0 0 rg BT 252.63 729.23 Td (A) Tj ET Q q 0 0 0 rg BT 259.10 729.23 Td (TEMENTS OF) Tj ET Q q 0 0 0 rg BT 324.02 729.23 Td ( CHANGES IN NET) Tj ET Q q 0 0 0 rg BT 412.47 729.23 Td ( ) Tj ET Q q 0 0 0 rg BT 414.42 729.23 Td (ASSETS ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 677.50 328.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.50 677.50 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.50 677.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 677.50 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 649.50 328.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.50 649.50 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.50 649.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 649.50 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 621.50 328.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.50 621.50 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.50 621.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 621.50 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 593.50 328.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.50 593.50 90.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.50 593.50 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 593.50 90.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 554.50 328.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.50 554.50 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.50 554.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 554.50 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 526.50 328.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.50 526.50 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.50 526.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 526.50 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 488.50 328.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.50 488.50 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.50 488.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 488.50 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 460.50 328.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.50 460.50 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.50 460.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 460.50 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 432.50 328.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.50 432.50 90.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.50 432.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.50 432.50 90.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377.5 621.5 m 467.5 621.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 621.5 m 561.5 621.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377.5 607.5 m 467.5 607.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 621.5 m 561.5 621.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 607.5 m 561.5 607.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377.5 554.5 m 467.5 554.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 554.5 m 561.5 554.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377.5 540.5 m 467.5 540.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 554.5 m 561.5 554.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 540.5 m 561.5 540.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377.5 512.5 m 467.5 512.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 512.5 m 561.5 512.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377.5 488.5 m 467.5 488.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 488.5 m 561.5 488.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 488.5 m 561.5 488.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377.5 446.5 m 467.5 446.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 446.5 m 561.5 446.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377.5 433.5 m 467.5 433.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377.5 431.5 m 467.5 431.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 446.5 m 561.5 446.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 433.5 m 561.5 433.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471.5 431.5 m 561.5 431.5 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 413.85 706.18 Td (Y) Tj ET Q q 0 0 0 rg BT 420.52 706.18 Td (ear) Tj ET Q q 0 0 0 rg BT 433.75 706.18 Td ( Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 383.35 696.18 Td (December) Tj ET Q q 0 0 0 rg BT 426.57 696.18 Td ( 31, 2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 507.85 706.18 Td (Y) Tj ET Q q 0 0 0 rg BT 513.96 706.18 Td (ear) Tj ET Q q 0 0 0 rg BT 527.66 706.18 Td ( Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 477.35 696.18 Td (December) Tj ET Q q 0 0 0 rg BT 520.48 696.18 Td ( 31, 2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 682.18 Td (Changes ) Tj ET Q q 0 0 0 rg BT 91.17 682.18 Td (in ) Tj ET Q q 0 0 0 rg BT 102.01 682.18 Td (net ) Tj ET Q q 0 0 0 rg BT 117.84 682.18 Td (assets ) Tj ET Q q 0 0 0 rg BT 144.79 682.18 Td (fr) Tj ET Q q 0 0 0 rg BT 152.47 682.18 Td (om ) Tj ET Q q 0 0 0 rg BT 168.21 682.18 Td (operations:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.00 682.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 668.07 Td (Net investment loss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.00 668.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.30 668.12 Td (\(2,386,019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.65 668.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.00 668.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.30 668.12 Td (\(3,645,515) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 668.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 654.07 Td (Net realized loss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.30 654.12 Td (\(7,693,523) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.65 654.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.30 654.12 Td (\(1) Tj ET Q q 0 0 0 rg BT 517.63 654.12 Td (1,755,179) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 654.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 640.07 Td (Net change in unrealized appreciation on investments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.65 640.07 Td (1) Tj ET Q q 0 0 0 rg BT 423.65 640.07 Td (1,195,620) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.65 640.07 Td (24,877,695) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 626.07 Td (Share of loss on equity method investment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.80 626.12 Td (\(124,299) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.65 626.07 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.80 626.12 Td (\(59,258) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 626.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 612.18 Td (Net incr) Tj ET Q q 0 0 0 rg BT 86.62 612.18 Td (ease in net assets r) Tj ET Q q 0 0 0 rg BT 164.76 612.18 Td (esulting fr) Tj ET Q q 0 0 0 rg BT 208.18 612.18 Td (om operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 612.07 Td (991,779) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 612.07 Td (9,417,743) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 598.18 Td (Changes in net assets fr) Tj ET Q q 0 0 0 rg BT 152.38 598.18 Td (om capital stock transactions:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 598.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.00 598.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 583.17 Td (Acquisition of vested restricted stock awards to pay required employee) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.00 573.17 Td (withholding tax) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 573.17 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.80 573.22 Td (\(139,780) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 573.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 559.07 Td (Stock-based compensation benefit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 559.07 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.80 559.12 Td (\(190,347) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 559.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 545.18 Td (Net decr) Tj ET Q q 0 0 0 rg BT 88.28 545.18 Td (ease in net assets r) Tj ET Q q 0 0 0 rg BT 166.42 545.18 Td (esulting fr) Tj ET Q q 0 0 0 rg BT 209.84 545.18 Td (om capital stock transactions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 545.07 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.80 545.12 Td (\(330,127) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 545.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 531.18 Td (Changes in net assets fr) Tj ET Q q 0 0 0 rg BT 152.47 531.18 Td (om accumulated other) Tj ET Q q 0 0 0 rg BT 247.82 531.18 Td ( compr) Tj ET Q q 0 0 0 rg BT 277.91 531.18 Td (ehensive loss:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 464.00 531.18 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.00 531.18 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 517.07 Td (Other comprehensive loss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 517.07 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.80 517.12 Td (\(300,237) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 517.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 503.18 Td (Net decr) Tj ET Q q 0 0 0 rg BT 88.19 503.18 Td (ease in net assets r) Tj ET Q q 0 0 0 rg BT 166.33 503.18 Td (esulting fr) Tj ET Q q 0 0 0 rg BT 209.75 503.18 Td (om accumulated other) Tj ET Q q 0 0 0 rg BT 305.11 503.18 Td ( compr) Tj ET Q q 0 0 0 rg BT 335.20 503.18 Td (ehensive) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 61.00 493.18 Td (loss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 493.17 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.80 493.22 Td (\(300,237) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 493.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 479.18 Td (Net ) Tj ET Q q 0 0 0 rg BT 69.49 479.18 Td (incr) Tj ET Q q 0 0 0 rg BT 86.62 479.18 Td (ease ) Tj ET Q q 0 0 0 rg BT 106.79 479.18 Td (in ) Tj ET Q q 0 0 0 rg BT 117.63 479.18 Td (net ) Tj ET Q q 0 0 0 rg BT 133.46 479.18 Td (assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 479.07 Td (991,779) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 479.07 Td (8,787,379) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 465.18 Td (Net ) Tj ET Q q 0 0 0 rg BT 68.94 465.18 Td (Assets:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 465.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.00 465.07 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 451.07 Td (Beginning of the year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.65 451.07 Td (81,042,989) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.65 451.07 Td (72,255,610) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 437.07 Td (End of the year) Tj ET Q BT /F2 10.00 Tf ET BT /F2 6.50 Tf ET q 0 0 0 rg BT 119.36 441.60 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.00 437.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.65 437.07 Td (82,034,768) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.00 437.07 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.65 437.07 Td (81,042,989) Tj ET Q BT /F2 10.00 Tf ET BT /F2 6.50 Tf ET q 0 0 0 rg BT 58.00 410.70 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.25 406.17 Td ( Includes accumulated net investment loss of $5,21) Tj ET Q q 0 0 0 rg BT 265.27 406.17 Td (1,751 as of December 31, 2017. ) Tj ET Q q 0 0 0 rg BT 395.34 406.17 Td (The Securities Exchange Commission ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 396.17 Td (\("SEC"\) eliminated the requirement to disclose accumulated net investment income \(loss\) in 2018.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 380.00 Td () Tj ET Q endstream endobj 21 0 obj <> endobj 22 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.30 29.10 Td (The accompanying notes are an integral part of these consolidated financial statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 17.10 Td (10) Tj ET Q 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50 751 m 50 727 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 562 751 m 562 727 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50 751 m 562 751 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 50 727 m 562 727 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 236.30 741.68 Td (180 DEGREE CAPIT) Tj ET Q q 0 0 0 rg BT 328.90 741.68 Td (AL) Tj ET Q q 0 0 0 rg BT 342.24 741.68 Td ( CORP) Tj ET Q q 0 0 0 rg BT 372.15 741.68 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 243.40 731.68 Td (FINANCIAL) Tj ET Q q 0 0 0 rg BT 299.52 731.68 Td ( HIGHLIGHTS) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 48.75 680.00 175.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.75 680.00 71.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 294.75 680.00 10.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.75 680.00 61.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.75 680.00 10.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.75 680.00 61.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.75 680.00 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.75 680.00 61.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.75 680.00 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.75 680.00 61.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 48.75 643.00 175.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.75 643.00 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 294.75 643.00 10.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.75 643.00 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.75 643.00 10.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.75 643.00 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.75 643.00 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.75 643.00 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.75 643.00 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.75 643.00 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 48.75 597.00 175.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.75 597.00 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 294.75 597.00 10.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.75 597.00 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.75 597.00 10.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.75 597.00 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.75 597.00 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.75 597.00 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.75 597.00 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.75 597.00 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 48.75 569.00 175.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.75 569.00 71.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 294.75 569.00 10.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.75 569.00 61.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.75 569.00 10.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.75 569.00 61.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.75 569.00 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.75 569.00 61.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.75 569.00 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.75 569.00 61.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 48.75 523.00 175.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.75 523.00 71.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 294.75 523.00 10.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.75 523.00 61.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.75 523.00 10.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.75 523.00 61.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.75 523.00 4.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.75 523.00 61.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.75 523.00 4.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.75 523.00 61.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 48.75 468.00 175.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.75 468.00 71.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 294.75 468.00 10.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.75 468.00 61.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.75 468.00 10.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.75 468.00 61.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.75 468.00 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.75 468.00 61.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.75 468.00 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.75 468.00 61.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 48.75 431.00 175.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.75 431.00 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 294.75 431.00 10.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.75 431.00 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.75 431.00 10.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.75 431.00 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.75 431.00 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.75 431.00 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.75 431.00 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.75 431.00 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 48.75 403.00 175.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.75 403.00 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 294.75 403.00 10.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.75 403.00 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.75 403.00 10.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.75 403.00 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.75 403.00 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.75 403.00 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.75 403.00 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.75 403.00 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 48.75 375.00 175.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.75 375.00 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 294.75 375.00 10.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.75 375.00 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.75 375.00 10.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.75 375.00 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.75 375.00 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.75 375.00 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.75 375.00 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.75 375.00 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 48.75 338.00 175.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.75 338.00 71.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 294.75 338.00 10.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.75 338.00 61.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.75 338.00 10.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.75 338.00 61.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.75 338.00 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.75 338.00 61.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.75 338.00 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.75 338.00 61.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 48.75 292.00 175.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.75 292.00 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 294.75 292.00 10.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.75 292.00 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.75 292.00 10.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.75 292.00 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.75 292.00 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.75 292.00 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.75 292.00 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.75 292.00 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 48.75 264.00 175.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.75 264.00 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 294.75 264.00 10.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.75 264.00 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.75 264.00 10.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.75 264.00 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.75 264.00 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.75 264.00 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.75 264.00 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.75 264.00 61.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223.75 694 m 294.75 694 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.75 694 m 365.75 694 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375.75 694 m 436.75 694 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.75 694 m 501.75 694 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.75 694 m 566.75 694 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223.75 657 m 294.75 657 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.75 657 m 365.75 657 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375.75 657 m 436.75 657 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.75 657 m 501.75 657 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.75 657 m 566.75 657 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223.75 657 m 294.75 657 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.75 657 m 365.75 657 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375.75 657 m 436.75 657 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223.75 583 m 294.75 583 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.75 583 m 365.75 583 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375.75 583 m 436.75 583 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.75 583 m 501.75 583 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.75 583 m 566.75 583 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223.75 583 m 294.75 583 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223.75 569 m 294.75 569 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.75 583 m 365.75 583 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.75 569 m 365.75 569 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375.75 569 m 436.75 569 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.75 583 m 501.75 583 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.75 569 m 501.75 569 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.75 583 m 566.75 583 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.75 569 m 566.75 569 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223.75 569 m 294.75 569 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223.75 491 m 294.75 491 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.75 491 m 365.75 491 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375.75 491 m 436.75 491 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.75 491 m 501.75 491 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.75 491 m 566.75 491 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223.75 491 m 294.75 491 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223.75 468 m 294.75 468 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.75 491 m 365.75 491 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.75 468 m 365.75 468 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375.75 468 m 436.75 468 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.75 491 m 501.75 491 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.75 468 m 501.75 468 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.75 491 m 566.75 491 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.75 468 m 566.75 468 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223.75 468 m 294.75 468 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223.75 445 m 294.75 445 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.75 468 m 365.75 468 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.75 445 m 365.75 445 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375.75 468 m 436.75 468 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375.75 445 m 436.75 445 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.75 445 m 501.75 445 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.75 445 m 566.75 445 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223.75 445 m 294.75 445 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223.75 431 m 294.75 431 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.75 445 m 365.75 445 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.75 431 m 365.75 431 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375.75 431 m 436.75 431 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.75 445 m 501.75 445 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.75 431 m 501.75 431 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.75 445 m 566.75 445 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.75 431 m 566.75 431 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223.75 418 m 294.75 418 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223.75 416 m 294.75 416 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.75 418 m 365.75 418 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.75 416 m 365.75 416 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375.75 418 m 436.75 418 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375.75 416 m 436.75 416 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.75 418 m 501.75 418 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440.75 416 m 501.75 416 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.75 418 m 566.75 418 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.75 416 m 566.75 416 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223.75 416 m 294.75 416 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223.75 418 m 294.75 418 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.75 416 m 365.75 416 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.75 418 m 365.75 418 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375.75 416 m 436.75 416 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375.75 418 m 436.75 418 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 236.20 707.45 Td (Y) Tj ET Q q 0 0 0 rg BT 242.20 707.45 Td (ear) Tj ET Q q 0 0 0 rg BT 254.11 707.45 Td ( Ended) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 233.50 698.45 Td (Dec. 31, 2018) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 312.20 707.45 Td (Y) Tj ET Q q 0 0 0 rg BT 317.70 707.45 Td (ear) Tj ET Q q 0 0 0 rg BT 330.03 707.45 Td ( Ended) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 309.50 698.45 Td (Dec. 31, 2017) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 383.20 707.45 Td (Y) Tj ET Q q 0 0 0 rg BT 388.70 707.45 Td (ear) Tj ET Q q 0 0 0 rg BT 401.03 707.45 Td ( Ended ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 380.50 698.45 Td (Dec. 31, 2016) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 448.20 707.45 Td (Y) Tj ET Q q 0 0 0 rg BT 453.70 707.45 Td (ear) Tj ET Q q 0 0 0 rg BT 466.03 707.45 Td ( Ended ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 445.50 698.45 Td (Dec. 31, 2015) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 513.20 707.45 Td (Y) Tj ET Q q 0 0 0 rg BT 518.70 707.45 Td (ear) Tj ET Q q 0 0 0 rg BT 531.03 707.45 Td ( Ended ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 510.50 698.45 Td (Dec. 31, 2014) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.25 684.46 Td (Per Share Operating Performance) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 433.25 684.46 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 498.25 684.46 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 563.25 684.46 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.25 670.46 Td (Net asset value per share, beginning of the) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.25 661.46 Td (year) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 226.25 661.46 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 268.00 661.46 Td (2.60) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 307.25 661.46 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 339.00 661.46 Td (2.34) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 378.25 661.46 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 410.00 661.46 Td (2.88) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 443.25 661.46 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 475.00 661.46 Td (3.51) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 508.25 661.46 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 540.00 661.46 Td (3.93) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 57.25 647.46 Td (Net investment loss) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 128.24 647.46 Td (*) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 265.00 647.46 Td (\(0.07) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 283.75 647.46 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 336.00 647.46 Td (\(0.12) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 354.75 647.46 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 407.00 647.46 Td (\(0.15) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 425.75 647.46 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 472.00 647.46 Td (\(0.23) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 490.75 647.46 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 537.00 647.46 Td (\(0.25) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 555.75 647.46 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 57.25 633.46 Td (Net realized \(loss\) gain from investments) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 205.96 633.46 Td (*) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 265.00 633.46 Td (\(0.25) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 283.75 633.46 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 336.00 633.46 Td (\(0.38) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 354.75 633.46 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 407.00 633.46 Td (\(0.26) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 425.75 633.46 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 475.00 633.46 Td (0.15) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 537.00 633.46 Td (\(0.16) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 555.75 633.46 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 57.25 620.26 Td (Net change in unrealized appreciation ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 66.25 611.26 Td (\(depreciation\) on investments and written ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 66.25 602.26 Td (call options) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 107.99 602.26 Td (*) Tj ET Q BT /F2 9.00 Tf ET BT /F2 5.85 Tf ET q 0 0 0 rg BT 112.49 606.34 Td (1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 268.00 601.46 Td (0.36) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 339.00 601.46 Td (0.80) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 407.00 601.46 Td (\(0.12) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 425.75 601.46 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 472.00 601.46 Td (\(0.56) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 490.75 601.46 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 537.00 601.46 Td (\(0.02) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 555.75 601.46 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 57.25 588.26 Td (Share of loss on equity method investment*) Tj ET Q BT /F2 9.00 Tf ET BT /F2 5.85 Tf ET q 0 0 0 rg BT 215.23 592.34 Td (2) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 268.00 587.46 Td (0.00) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 339.00 587.46 Td (0.00) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 410.00 587.46 Td (0.00) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 472.00 587.46 Td (\(0.01) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 490.75 587.46 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 540.00 587.46 Td (0.00) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 57.25 573.46 Td (T) Tj ET Q q 0 0 0 rg BT 62.43 573.46 Td (otal*) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 268.00 573.46 Td (0.04) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 339.00 573.46 Td (0.30) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 407.00 573.46 Td (\(0.53) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 425.75 573.46 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 472.00 573.46 Td (\(0.65) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 490.75 573.46 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 537.00 573.46 Td (\(0.43) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 555.75 573.46 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 57.25 559.46 Td (Net \(decrease\) increase as a result of stock-) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 66.25 550.46 Td (based compensation expense*) Tj ET Q BT /F2 9.00 Tf ET BT /F2 5.85 Tf ET q 0 0 0 rg BT 174.72 554.54 Td (2) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 268.00 550.46 Td (0.00) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 336.00 550.46 Td (\(0.01) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 354.75 550.46 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 410.00 550.46 Td (0.01) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 475.00 550.46 Td (0.03) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 540.00 550.46 Td (0.03) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 57.25 536.46 Td (Net increase as a result of purchase of) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 66.25 527.46 Td (treasury stock) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 268.00 527.46 Td (0.00) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 339.00 527.46 Td (0.00) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 410.00 527.46 Td (0.00) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 475.00 527.46 Td (0.01) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 540.00 527.46 Td (0.00) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 57.25 514.26 Td (Net decrease as a result of acquisition of ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 66.25 505.26 Td (vested restricted stock awards related to ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 66.25 496.26 Td (employee withholding) Tj ET Q BT /F2 9.00 Tf ET BT /F2 5.85 Tf ET q 0 0 0 rg BT 146.99 500.34 Td (2) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 268.00 495.46 Td (0.00) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 336.00 495.46 Td (\(0.02) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 354.75 495.46 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 407.00 495.46 Td (\(0.01) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 425.75 495.46 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 472.00 495.46 Td (\(0.01) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 490.75 495.46 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 537.00 495.46 Td (\(0.01) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 555.75 495.46 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 57.25 481.46 Td (T) Tj ET Q q 0 0 0 rg BT 62.43 481.46 Td (otal \(decrease\) increase from capital stock) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 57.25 472.46 Td (transactions) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 268.00 472.46 Td (0.00) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 336.00 472.46 Td (\(0.03) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 354.75 472.46 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 410.00 472.46 Td (0.00) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 475.00 472.46 Td (0.03) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 540.00 472.46 Td (0.02) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 57.25 459.26 Td (Net \(decrease\) increase as a result of other ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 57.25 450.26 Td (comprehensive \(loss\) income) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 162.72 450.26 Td (*) Tj ET Q BT /F2 9.00 Tf ET BT /F2 5.85 Tf ET q 0 0 0 rg BT 167.22 454.34 Td (2) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 268.00 449.46 Td (0.00) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 336.00 449.46 Td (\(0.01) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 354.75 449.46 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 407.00 449.46 Td (\(0.01) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 425.75 449.46 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 472.00 449.46 Td (\(0.01) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 490.75 449.46 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 537.00 449.46 Td (\(0.01) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 555.75 449.46 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 57.25 435.46 Td (Net increase \(decrease\) in net asset value) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 268.00 435.46 Td (0.04) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 339.00 435.46 Td (0.26) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 407.00 435.46 Td (\(0.54) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 425.75 435.46 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 472.00 435.46 Td (\(0.63) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 490.75 435.46 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 537.00 435.46 Td (\(0.42) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 555.75 435.46 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.25 421.46 Td (Net asset value per share, end of the year) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 226.25 421.46 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 268.00 421.46 Td (2.64) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 307.25 421.46 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 339.00 421.46 Td (2.60) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 378.25 421.46 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 410.00 421.46 Td (2.34) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 443.25 421.46 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 475.00 421.46 Td (2.88) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 508.25 421.46 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 540.00 421.46 Td (3.51) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.25 407.46 Td (Stock price per share, end of the year) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 226.25 407.46 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 268.00 407.46 Td (1.75) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 307.25 407.46 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 339.00 407.46 Td (1.97) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 378.25 407.46 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 410.00 407.46 Td (1.38) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 443.25 407.46 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 475.00 407.46 Td (2.20) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 508.25 407.46 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 540.00 407.46 Td (2.95) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.25 393.46 Td (T) Tj ET Q q 0 0 0 rg BT 56.43 393.46 Td (otal return based on stock price) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 260.50 393.46 Td (\(1) Tj ET Q q 0 0 0 rg BT 268.00 393.46 Td (1.17) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 283.75 393.46 Td (\)%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 334.50 393.46 Td (42.75) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 357.75 393.46 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 402.50 393.46 Td (\(37.27) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 425.75 393.46 Td (\)%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 467.50 393.46 Td (\(25.42) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 490.75 393.46 Td (\)%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 537.00 393.46 Td (\(1.01) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 555.75 393.46 Td (\)%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 51.25 379.45 Td (Supplemental Data:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 498.25 379.46 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 563.25 379.46 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.25 366.26 Td (Net assets, end of the year) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 226.25 366.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 243.25 366.26 Td (82,034,768) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 307.25 366.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 314.25 366.26 Td (81,042,989) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 378.25 366.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 385.25 366.26 Td (72,255,610) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 443.25 366.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.25 366.26 Td (88,71) Tj ET Q q 0 0 0 rg BT 470.50 366.26 Td (1,671) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 508.25 366.26 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 510.75 366.26 Td (109,654,427) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.25 352.26 Td (Ratio of expenses, excluding taxes, to) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 60.25 343.26 Td (quarterly average net assets) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 268.00 342.46 Td (3.62) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 286.75 342.46 Td (%) Tj ET Q BT /F2 3.25 Tf ET q 0 0 0 rg BT 297.60 344.19 Td (**) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 339.00 342.46 Td (6.26) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 357.75 342.46 Td (%) Tj ET Q BT /F2 3.90 Tf ET q 0 0 0 rg BT 368.30 344.89 Td (**) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 410.00 342.46 Td (7.88) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 428.75 342.46 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 475.00 342.46 Td (8.15) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 493.75 342.46 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 540.00 342.46 Td (7.14) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.75 342.46 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.25 329.26 Td (Ratio of expenses, including taxes, to) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 60.25 320.26 Td (quarterly average net assets) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 268.00 319.46 Td (3.63) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 286.75 319.46 Td (%) Tj ET Q BT /F2 3.25 Tf ET q 0 0 0 rg BT 297.60 321.19 Td (**) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 339.00 319.46 Td (6.28) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 357.75 319.46 Td (%) Tj ET Q BT /F2 9.00 Tf ET BT /F2 5.85 Tf ET q 0 0 0 rg BT 368.75 330.12 Td (3 ) Tj ET Q BT /F2 6.00 Tf ET BT /F2 3.90 Tf ET q 0 0 0 rg BT 368.30 321.08 Td (**) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 410.00 319.46 Td (7.89) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 428.75 319.46 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 475.00 319.46 Td (8.15) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 493.75 319.46 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 540.00 319.46 Td (7.15) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.75 319.46 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.25 306.26 Td (Ratio of net investment loss to quarterly) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 60.25 297.26 Td (average net assets) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 265.00 296.46 Td (\(2.82) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 283.75 296.46 Td (\)%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 336.00 296.46 Td (\(4.68) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 354.75 296.46 Td (\)%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 407.00 296.46 Td (\(5.64) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 425.75 296.46 Td (\)%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 472.00 296.46 Td (\(7.22) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 490.75 296.46 Td (\)%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 537.00 296.46 Td (\(6.70) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 555.75 296.46 Td (\)%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.25 282.46 Td (A) Tj ET Q q 0 0 0 rg BT 57.42 282.46 Td (verage debt outstanding) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 226.25 282.46 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 279.25 282.46 Td (0) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 307.25 282.46 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 350.25 282.46 Td (0) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 378.25 282.46 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 389.75 282.46 Td (4,590,164) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 443.25 282.46 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 454.75 282.46 Td (3,780,822) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 508.25 282.46 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 551.25 282.46 Td (0) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.25 268.46 Td (A) Tj ET Q q 0 0 0 rg BT 57.42 268.46 Td (verage debt per share) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 226.25 268.46 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 268.00 268.46 Td (0.00) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 307.25 268.46 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 339.00 268.46 Td (0.00) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 378.25 268.46 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 410.00 268.46 Td (0.15) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 443.25 268.46 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 475.00 268.46 Td (0.12) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 508.25 268.46 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 540.00 268.46 Td (0.00) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.25 254.46 Td (Portfolio turnover) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 263.50 254.46 Td (20.43) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 286.75 254.46 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 339.00 254.46 Td (8.83) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 357.75 254.46 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 419.75 254.46 Td (***) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 484.75 254.46 Td (***) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 549.75 254.46 Td (***) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.25 240.46 Td (Number of shares outstanding, end of the year) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 243.25 240.46 Td (31,121,562) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 314.25 240.46 Td (31,121,562) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 385.25 240.46 Td (30,904,209) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 450.25 240.46 Td (30,845,754) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 515.25 240.46 Td (31,280,843) Tj ET Q BT /F1 10.00 Tf ET BT /F1 9.00 Tf ET q 0 0 0 rg BT 49.50 214.95 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 51.75 214.95 Td (*) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 56.25 214.95 Td (Based ) Tj ET Q q 0 0 0 rg BT 80.49 214.95 Td (on ) Tj ET Q q 0 0 0 rg BT 91.74 214.95 Td (average ) Tj ET Q q 0 0 0 rg BT 121.97 214.95 Td (shares ) Tj ET Q q 0 0 0 rg BT 146.71 214.95 Td (outstanding.) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 49.50 204.15 Td (**The ) Tj ET Q q 0 0 0 rg BT 75.20 204.15 Td (Company ) Tj ET Q q 0 0 0 rg BT 112.91 204.15 Td (has ) Tj ET Q q 0 0 0 rg BT 127.62 204.15 Td (entered ) Tj ET Q q 0 0 0 rg BT 156.81 204.15 Td (into ) Tj ET Q q 0 0 0 rg BT 173.53 204.15 Td (an ) Tj ET Q q 0 0 0 rg BT 184.73 204.15 Td (expense ) Tj ET Q q 0 0 0 rg BT 216.43 204.15 Td (of) Tj ET Q q 0 0 0 rg BT 223.77 204.15 Td (fsetting ) Tj ET Q q 0 0 0 rg BT 253.47 204.15 Td (arrangement ) Tj ET Q q 0 0 0 rg BT 301.16 204.15 Td (with ) Tj ET Q q 0 0 0 rg BT 319.87 204.15 Td (one ) Tj ET Q q 0 0 0 rg BT 335.58 204.15 Td (of ) Tj ET Q q 0 0 0 rg BT 345.78 204.15 Td (its ) Tj ET Q q 0 0 0 rg BT 357.00 204.15 Td (unaf) Tj ET Q q 0 0 0 rg BT 372.83 204.15 Td (filiated ) Tj ET Q q 0 0 0 rg BT 401.03 204.15 Td (brokers ) Tj ET Q q 0 0 0 rg BT 430.73 204.15 Td (relating ) Tj ET Q q 0 0 0 rg BT 460.93 204.15 Td (to ) Tj ET Q q 0 0 0 rg BT 470.64 204.15 Td (broker ) Tj ET Q q 0 0 0 rg BT 496.84 204.15 Td (fees ) Tj ET Q q 0 0 0 rg BT 514.04 204.15 Td (paid. ) Tj ET Q q 0 0 0 rg BT 534.30 204.15 Td (The ) Tj ET Q q 0 0 0 rg BT 551.01 204.15 Td (total ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 49.50 193.35 Td (broker ) Tj ET Q q 0 0 0 rg BT 75.15 193.35 Td (fee ) Tj ET Q q 0 0 0 rg BT 88.30 193.35 Td (char) Tj ET Q q 0 0 0 rg BT 103.62 193.35 Td (ged ) Tj ET Q q 0 0 0 rg BT 118.77 193.35 Td (to ) Tj ET Q q 0 0 0 rg BT 127.93 193.35 Td (the ) Tj ET Q q 0 0 0 rg BT 141.09 193.35 Td (Company ) Tj ET Q q 0 0 0 rg BT 178.25 193.35 Td (was ) Tj ET Q q 0 0 0 rg BT 194.40 193.35 Td (applied ) Tj ET Q q 0 0 0 rg BT 223.06 193.35 Td (as ) Tj ET Q q 0 0 0 rg BT 232.71 193.35 Td (a ) Tj ET Q q 0 0 0 rg BT 238.87 193.35 Td (credit ) Tj ET Q q 0 0 0 rg BT 261.51 193.35 Td (to ) Tj ET Q q 0 0 0 rg BT 270.68 193.35 Td (fees ) Tj ET Q q 0 0 0 rg BT 287.32 193.35 Td (char) Tj ET Q q 0 0 0 rg BT 302.65 193.35 Td (ged ) Tj ET Q q 0 0 0 rg BT 317.80 193.35 Td (by ) Tj ET Q q 0 0 0 rg BT 328.96 193.35 Td (an ) Tj ET Q q 0 0 0 rg BT 339.62 193.35 Td (af) Tj ET Q q 0 0 0 rg BT 346.45 193.35 Td (filiate ) Tj ET Q q 0 0 0 rg BT 369.60 193.35 Td (of ) Tj ET Q q 0 0 0 rg BT 379.25 193.35 Td (the ) Tj ET Q q 0 0 0 rg BT 392.41 193.35 Td (unaf) Tj ET Q q 0 0 0 rg BT 408.24 193.35 Td (filiated ) Tj ET Q q 0 0 0 rg BT 435.89 193.35 Td (broker ) Tj ET Q q 0 0 0 rg BT 461.53 193.35 Td (who ) Tj ET Q q 0 0 0 rg BT 479.19 193.35 Td (the ) Tj ET Q q 0 0 0 rg BT 492.35 193.35 Td (Company ) Tj ET Q q 0 0 0 rg BT 529.51 193.35 Td (subscribes ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 49.50 182.55 Td (to ) Tj ET Q q 0 0 0 rg BT 58.33 182.55 Td (for ) Tj ET Q q 0 0 0 rg BT 70.65 182.55 Td (data ) Tj ET Q q 0 0 0 rg BT 87.47 182.55 Td (services ) Tj ET Q q 0 0 0 rg BT 118.28 182.55 Td (billed ) Tj ET Q q 0 0 0 rg BT 140.60 182.55 Td (during ) Tj ET Q q 0 0 0 rg BT 165.93 182.55 Td (the ) Tj ET Q q 0 0 0 rg BT 178.75 182.55 Td (year) Tj ET Q q 0 0 0 rg BT 193.74 182.55 Td (. ) Tj ET Q q 0 0 0 rg BT 197.68 182.55 Td (The ) Tj ET Q q 0 0 0 rg BT 213.50 182.55 Td (Company ) Tj ET Q q 0 0 0 rg BT 250.33 182.55 Td (received ) Tj ET Q q 0 0 0 rg BT 282.63 182.55 Td (an ) Tj ET Q q 0 0 0 rg BT 292.95 182.55 Td (of) Tj ET Q q 0 0 0 rg BT 300.29 182.55 Td (fset ) Tj ET Q q 0 0 0 rg BT 315.11 182.55 Td (to ) Tj ET Q q 0 0 0 rg BT 323.94 182.55 Td (expense ) Tj ET Q q 0 0 0 rg BT 354.75 182.55 Td (totaling ) Tj ET Q q 0 0 0 rg BT 384.07 182.55 Td (approximately ) Tj ET Q q 0 0 0 rg BT 437.88 182.55 Td ($17,509 ) Tj ET Q q 0 0 0 rg BT 468.96 182.55 Td (and ) Tj ET Q q 0 0 0 rg BT 483.78 182.55 Td ($5,700 ) Tj ET Q q 0 0 0 rg BT 510.36 182.55 Td (with ) Tj ET Q q 0 0 0 rg BT 528.19 182.55 Td (that ) Tj ET Q q 0 0 0 rg BT 543.51 182.55 Td (broker ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 49.50 171.75 Td (for ) Tj ET Q q 0 0 0 rg BT 62.24 171.75 Td (the ) Tj ET Q q 0 0 0 rg BT 75.49 171.75 Td (year ) Tj ET Q q 0 0 0 rg BT 93.23 171.75 Td (ended ) Tj ET Q q 0 0 0 rg BT 116.96 171.75 Td (December ) Tj ET Q q 0 0 0 rg BT 156.19 171.75 Td (31, ) Tj ET Q q 0 0 0 rg BT 169.69 171.75 Td (2018 ) Tj ET Q q 0 0 0 rg BT 189.94 171.75 Td (and ) Tj ET Q q 0 0 0 rg BT 205.19 171.75 Td (the ) Tj ET Q q 0 0 0 rg BT 218.43 171.75 Td (year ) Tj ET Q q 0 0 0 rg BT 236.17 171.75 Td (ended ) Tj ET Q q 0 0 0 rg BT 259.91 171.75 Td (December ) Tj ET Q q 0 0 0 rg BT 299.13 171.75 Td (31, ) Tj ET Q q 0 0 0 rg BT 312.63 171.75 Td (2017. ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 49.50 160.95 Td (***Prior ) Tj ET Q q 0 0 0 rg BT 83.19 160.95 Td (to ) Tj ET Q q 0 0 0 rg BT 92.38 160.95 Td (March ) Tj ET Q q 0 0 0 rg BT 118.06 160.95 Td (2017, ) Tj ET Q q 0 0 0 rg BT 140.50 160.95 Td (the ) Tj ET Q q 0 0 0 rg BT 153.68 160.95 Td (Company ) Tj ET Q q 0 0 0 rg BT 190.87 160.95 Td (was ) Tj ET Q q 0 0 0 rg BT 207.06 160.95 Td (a ) Tj ET Q q 0 0 0 rg BT 213.24 160.95 Td (business ) Tj ET Q q 0 0 0 rg BT 245.93 160.95 Td (development ) Tj ET Q q 0 0 0 rg BT 294.61 160.95 Td (company ) Tj ET Q q 0 0 0 rg BT 329.79 160.95 Td (investing ) Tj ET Q q 0 0 0 rg BT 364.97 160.95 Td (primarily ) Tj ET Q q 0 0 0 rg BT 400.65 160.95 Td (in ) Tj ET Q q 0 0 0 rg BT 409.84 160.95 Td (privately ) Tj ET Q q 0 0 0 rg BT 444.02 160.95 Td (held ) Tj ET Q q 0 0 0 rg BT 461.71 160.95 Td (securities. ) Tj ET Q q 0 0 0 rg BT 500.13 160.95 Td ( ) Tj ET Q q 0 0 0 rg BT 502.32 160.95 Td (Portfolio ) Tj ET Q q 0 0 0 rg BT 536.51 160.95 Td (turnover ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 49.50 150.15 Td (was ) Tj ET Q q 0 0 0 rg BT 65.75 150.15 Td (not ) Tj ET Q q 0 0 0 rg BT 79.50 150.15 Td (a ) Tj ET Q q 0 0 0 rg BT 85.74 150.15 Td (relevant ) Tj ET Q q 0 0 0 rg BT 116.97 150.15 Td (indicator ) Tj ET Q q 0 0 0 rg BT 151.21 150.15 Td (for ) Tj ET Q q 0 0 0 rg BT 163.96 150.15 Td (such ) Tj ET Q q 0 0 0 rg BT 182.70 150.15 Td (investments ) Tj ET Q q 0 0 0 rg BT 227.95 150.15 Td (given ) Tj ET Q q 0 0 0 rg BT 250.19 150.15 Td (that ) Tj ET Q q 0 0 0 rg BT 265.94 150.15 Td (the ) Tj ET Q q 0 0 0 rg BT 279.18 150.15 Td (Company ) Tj ET Q q 0 0 0 rg BT 316.43 150.15 Td (did ) Tj ET Q q 0 0 0 rg BT 330.18 150.15 Td (not ) Tj ET Q q 0 0 0 rg BT 343.93 150.15 Td (generally ) Tj ET Q q 0 0 0 rg BT 379.67 150.15 Td (pay ) Tj ET Q q 0 0 0 rg BT 394.91 150.15 Td (brokerage ) Tj ET Q q 0 0 0 rg BT 433.14 150.15 Td (fees ) Tj ET Q q 0 0 0 rg BT 449.88 150.15 Td (on ) Tj ET Q q 0 0 0 rg BT 461.13 150.15 Td (such ) Tj ET Q q 0 0 0 rg BT 479.87 150.15 Td (investments. ) Tj ET Q BT /F2 9.00 Tf ET BT /F2 5.85 Tf ET q 0 0 0 rg BT 49.50 132.63 Td (1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.42 128.55 Td ( Net unrealized losses include rounding adjustments to reconcile change in net asset value per share. ) Tj ET Q BT /F2 9.00 Tf ET BT /F2 5.85 Tf ET q 0 0 0 rg BT 49.50 121.83 Td (2) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.42 117.75 Td ( ) Tj ET Q q 0 0 0 rg BT 54.18 117.75 Td (Amounts listed as zero are amounts calculated as less than $0.005.) Tj ET Q BT /F2 9.00 Tf ET BT /F2 5.85 Tf ET q 0 0 0 rg BT 49.50 111.03 Td (3 ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.89 106.95 Td (Ratio of expenses, including taxes and excluding expenses related to restructuring, to quarterly average net assets for the year ended ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 49.50 96.15 Td (December 31, 2017 was 5.19%.) Tj ET Q endstream endobj 23 0 obj <> endobj 24 0 obj <> stream 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 779 m 49.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 779 m 245.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 755 m 245.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 245.5 779 m 307.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 245.5 755 m 307.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 307.5 779 m 311.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 307.5 755 m 311.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 779 m 384.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 755 m 384.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 384.5 779 m 388.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 384.5 755 m 388.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 779 m 443.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 755 m 443.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 779 m 447.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 755 m 447.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 779 m 502.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 755 m 502.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 779 m 506.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 755 m 506.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 779 m 561.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 779 m 561.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 755 m 561.5 755 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 245.5 721 m 307.5 721 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 721 m 384.5 721 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 721 m 443.5 721 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 721 m 502.5 721 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 721 m 561.5 721 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 235.80 769.68 Td (180 DEGREE CAPIT) Tj ET Q q 0 0 0 rg BT 328.77 769.68 Td (AL) Tj ET Q q 0 0 0 rg BT 342.02 769.68 Td ( CORP) Tj ET Q q 0 0 0 rg BT 372.11 769.68 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 126.10 759.68 Td (CONSOLIDA) Tj ET Q q 0 0 0 rg BT 186.30 759.68 Td (TED SCHEDULE OF) Tj ET Q q 0 0 0 rg BT 280.20 759.68 Td ( INVESTMENTS ) Tj ET Q q 0 0 0 rg BT 357.54 759.68 Td (AS OF) Tj ET Q q 0 0 0 rg BT 386.25 759.68 Td ( DECEMBER 31, 2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 253.90 735.68 Td (Methodof) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 248.25 725.68 Td (V) Tj ET Q q 0 0 0 rg BT 254.55 725.68 Td (aluation\(1\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 328.85 725.68 Td (Industry) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 405.75 725.68 Td (Cost) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 458.75 735.68 Td (Shar) Tj ET Q q 0 0 0 rg BT 479.13 735.68 Td (es/) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.75 725.68 Td (Principal) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.45 725.68 Td (V) Tj ET Q q 0 0 0 rg BT 527.75 725.68 Td (alue) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.30 38.10 Td (The accompanying notes are an integral part of these consolidated financial statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.15 26.10 Td (1) Tj ET Q q 0 0 0 rg BT 305.78 26.10 Td (1) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 678.00 196.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 245.50 678.00 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.50 678.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.50 678.00 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.50 678.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 678.00 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 678.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.50 678.00 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 678.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 678.00 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 635.00 196.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 245.50 635.00 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.50 635.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.50 635.00 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.50 635.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 635.00 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 635.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.50 635.00 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 635.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 635.00 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 545.00 196.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 245.50 545.00 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.50 545.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.50 545.00 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.50 545.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 545.00 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 545.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.50 545.00 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 545.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 545.00 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 195.00 196.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 245.50 195.00 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.50 195.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.50 195.00 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.50 195.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 195.00 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 195.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.50 195.00 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 195.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 195.00 55.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 545 m 443.5 545 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 545 m 561.5 545 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 210 m 443.5 210 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 210 m 561.5 210 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 195 m 443.5 195 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 195 m 561.5 195 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 105 m 443.5 105 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 105 m 561.5 105 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 696.68 Td (Investments in Unaffiliated Companies \(2\) -) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 682.68 Td (35.6% of net assets at value) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 653.68 Td (Privately Held Companies \(Illiquid\) -) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 639.68 Td (19.7% of net assets at value) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 609.67 Td (AutoT) Tj ET Q q 0 0 0 rg BT 77.76 609.67 Td (ech ) Tj ET Q q 0 0 0 rg BT 93.70 609.67 Td (V) Tj ET Q q 0 0 0 rg BT 100.27 609.67 Td (entures Management I, LLC \(3\)\(4\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 599.67 Td (\(5\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 574.67 Td (V) Tj ET Q q 0 0 0 rg BT 64.67 574.67 Td (enture capital investing in automotive-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 564.67 Td (related companies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.35 584.67 Td (Asset) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.25 574.67 Td (Management &) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.05 564.67 Td (Custody Banks) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 549.67 Td (LLC Interests \(acquired 12/1/17\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.05 549.67 Td (\(M\) \(L3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.00 549.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 549.67 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.65 549.67 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.00 549.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 549.67 Td (150,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 489.67 Td (D-W) Tj ET Q q 0 0 0 rg BT 71.59 489.67 Td (ave Systems, Inc. \(3\)\(4\)\(6\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.95 519.67 Td (T) Tj ET Q q 0 0 0 rg BT 329.71 519.67 Td (echnology) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.50 509.67 Td (Hardware,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.05 499.67 Td (Storage &) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.00 489.67 Td (Peripherals) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 474.67 Td (Developing high-performance quantum) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 464.67 Td (computing systems) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 449.67 Td (Series 1 Class B Convertible Preferred Stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 439.67 Td (\(acquired 9/30/08\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.05 439.67 Td (\(M\) \(L3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.60 439.67 Td (1,002,074) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.60 439.67 Td (1,144,869) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.60 439.67 Td (1,958,033) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 424.67 Td (Series 1 Class C Convertible Preferred Stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 414.67 Td (\(acquired 9/30/08\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.05 414.67 Td (\(M\) \(L3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 414.67 Td (487,804) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 414.67 Td (450,450) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 414.67 Td (786,616) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 399.67 Td (Series 1 Class D Convertible Preferred Stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 389.67 Td (\(acquired 9/30/08\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.05 389.67 Td (\(M\) \(L3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 389.67 Td (748,473) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 389.67 Td (855,131) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.60 389.67 Td (1,493,305) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 374.67 Td (Series 1 Class E Convertible Preferred Stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 364.67 Td (\(acquired 1) Tj ET Q q 0 0 0 rg BT 103.07 364.67 Td (1/24/10\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.05 364.67 Td (\(M\) \(L3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 364.67 Td (248,049) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 364.67 Td (269,280) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 364.67 Td (490,521) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 349.67 Td (Series 1 Class F Convertible Preferred Stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 339.67 Td (\(acquired 1) Tj ET Q q 0 0 0 rg BT 103.07 339.67 Td (1/24/10\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.05 339.67 Td (\(M\) \(L3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 339.67 Td (238,323) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 339.67 Td (258,721) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 339.67 Td (471,287) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 324.67 Td (Series 1 Class H Convertible Preferred Stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 314.67 Td (\(acquired 6/27/14\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.05 314.67 Td (\(M\) \(L3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 314.67 Td (909,088) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 314.67 Td (460,866) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.60 314.67 Td (1,141,337) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 299.67 Td (Series 2 Class D Convertible Preferred Stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 289.67 Td (\(acquired 9/30/08\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.05 289.67 Td (\(M\) \(L3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 289.67 Td (736,019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 289.67 Td (678,264) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.60 289.67 Td (1,184,445) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 274.67 Td (Series 2 Class E Convertible Preferred Stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 264.67 Td (\(acquired 6/1/12-3/22/13\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.05 264.67 Td (\(M\) \(L3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 264.67 Td (659,493) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 264.67 Td (513,900) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 264.67 Td (979,874) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 249.67 Td (Series 2 Class F Convertible Preferred Stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 239.67 Td (\(acquired 6/1/12-3/22/13\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.05 239.67 Td (\(M\) \(L3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 239.67 Td (633,631) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 239.67 Td (493,747) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 239.67 Td (941,447) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 224.67 Td (W) Tj ET Q q 0 0 0 rg BT 67.04 224.67 Td (arrants for Common Stock expiring 5/12/19) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 214.67 Td (\(acquired 5/12/14\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.85 214.67 Td (\(I\) \(L3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.15 214.67 Td (26,357) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 214.67 Td (20,415) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 214.67 Td (242) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.60 199.67 Td (5,689,31) Tj ET Q q 0 0 0 rg BT 434.60 199.67 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.60 199.67 Td (9,447,107) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 159.67 Td (Fleet Health ) Tj ET Q q 0 0 0 rg BT 103.10 159.67 Td (Alliance, LLC \(3\)\(4\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.45 169.67 Td (Health Care) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.95 159.67 Td (T) Tj ET Q q 0 0 0 rg BT 329.71 159.67 Td (echnology) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 144.67 Td (Developing software for information transfer) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 134.67 Td (amongst healthcare providers and consumers) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 119.67 Td (Unsecured Convertible Bridge Note, 0%,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 109.67 Td (\(acquired 4/22/16, no maturity date\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.85 109.67 Td (\(I\) \(L3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 109.67 Td (225,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.00 109.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 109.67 Td (225,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 109.67 Td (1) Tj ET Q q 0 0 0 rg BT 530.15 109.67 Td (12,500) Tj ET 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Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 126.10 759.68 Td (CONSOLIDA) Tj ET Q q 0 0 0 rg BT 186.30 759.68 Td (TED SCHEDULE OF) Tj ET Q q 0 0 0 rg BT 280.20 759.68 Td ( INVESTMENTS ) Tj ET Q q 0 0 0 rg BT 357.54 759.68 Td (AS OF) Tj ET Q q 0 0 0 rg BT 386.25 759.68 Td ( DECEMBER 31, 2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 253.90 735.68 Td (Methodof) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 248.25 725.68 Td (V) Tj ET Q q 0 0 0 rg BT 254.55 725.68 Td (aluation\(1\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 328.85 725.68 Td (Industry) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 405.75 725.68 Td (Cost) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 458.75 735.68 Td (Shar) Tj ET Q q 0 0 0 rg BT 479.13 735.68 Td (es/) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.75 725.68 Td (Principal) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.45 725.68 Td (V) Tj ET Q q 0 0 0 rg BT 527.75 725.68 Td (alue) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.30 38.10 Td (The accompanying notes are an integral part of these consolidated financial statements.) 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Companies \(Illiquid\) -) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 639.68 Td (19.7% of net assets at value \(cont.\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 589.67 Td (Genome Profiling, LLC \(3\)\(7\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.40 609.67 Td (Life Sciences) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.30 599.67 Td (T) Tj ET Q q 0 0 0 rg BT 337.06 599.67 Td (ools &) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.55 589.67 Td (Services) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 575.57 Td (Developing a platform to analyze and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 565.57 Td (understand the epigenome) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 551.57 Td (Unsecured Convertible Bridge Note, 8%,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 541.57 Td (\(acquired 8/4/16, maturing 8/4/19\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.05 541.67 Td (\(M\) \(L3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.00 541.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 541.67 Td (230,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.00 541.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 541.67 Td (230,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.00 541.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 541.67 Td (230,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 511.67 Td (Magnolia Neurosciences Corporation \(3\)\(4\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.70 511.67 Td (Pharmaceuticals) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 496.67 Td (Developing and commercializing novel) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 486.67 Td (therapeutics for treatment of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 476.67 Td (neurodegeneration) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 461.67 Td (Series ) Tj ET Q q 0 0 0 rg BT 84.66 461.67 Td (A) Tj ET Q q 0 0 0 rg BT 91.33 461.67 Td ( Convertible Preferred Stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 451.67 Td (\(acquired 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Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.60 361.67 Td (1,500,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 361.67 Td (803,428) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 361.67 Td (926,994) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 346.67 Td (Series D Convertible Preferred Stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 336.67 Td (\(acquired 1) Tj ET Q q 0 0 0 rg BT 103.07 336.67 Td (1/7/05\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.85 336.67 Td (\(I\) \(L3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.60 336.67 Td (3,000,003) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.60 336.67 Td (1,016,950) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.60 336.67 Td (1,779,526) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 321.67 Td (Series E Convertible Preferred Stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 311.67 Td (\(acquired 8/13/10\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.85 311.67 Td (\(I\) \(L3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 311.67 Td (496,573) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 311.67 Td (433,688) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 311.67 Td (795,737) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.60 296.67 Td (4,996,576) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.60 296.67 Td (3,502,257) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 246.67 Td (NanoT) Tj ET Q q 0 0 0 rg BT 79.07 246.67 Td (erra, Inc. \(3\)\(4\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.00 266.67 Td (Research &) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.55 256.67 Td (Consulting) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.55 246.67 Td (Services) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 231.67 Td (Developing surface chemistry and nano-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 221.67 Td (manufacturing solutions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 206.67 Td (W) Tj ET Q q 0 0 0 rg BT 67.04 206.67 Td (arrants for Common Stock expiring on) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 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Preferred Stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 559.67 Td (\(acquired 12/23/15-1/8/18\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.85 559.67 Td (\(I\) \(L3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.00 559.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.60 559.67 Td (1,894,798) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.60 559.67 Td (1,894,798) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.00 559.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.60 559.67 Td (1,018,718) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 544.67 Td (Secured Convertible Bridge Note, 7% PIK,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 534.67 Td (\(acquired 8/30/18, maturing 1/31/19\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.05 534.67 Td (\(M\) \(L3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 534.67 Td (378,541) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.00 534.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 534.67 Td (369,748) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 534.67 Td (378,541) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.60 519.67 Td (2,273,339) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.60 519.67 Td (1,397,259) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 471.67 Td (Phylagen, Inc. \(3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.00 491.67 Td (Research &) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.55 481.67 Td (Consulting) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.55 471.67 Td (Services) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 457.57 Td (Developing technology to improve human) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 447.57 Td (health and business productivity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 433.57 Td (Series ) Tj ET Q q 0 0 0 rg BT 84.66 433.57 Td (A) Tj ET Q q 0 0 0 rg BT 91.33 433.57 Td ( Convertible Preferred Stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 423.57 Td (\(acquired 1) Tj ET Q q 0 0 0 rg BT 103.07 423.57 Td (1/14/18\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.85 423.67 Td (\(I\) \(L3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 423.67 Td (249,448) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 423.67 Td (584,597) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 423.67 Td (401,1) Tj ET Q q 0 0 0 rg BT 547.65 423.67 Td (1) Tj ET Q q 0 0 0 rg BT 552.65 423.67 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 397.68 Td (T) Tj ET Q q 0 0 0 rg BT 58.21 397.68 Td (otal Unaffiliated Privately Held) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 387.68 Td (Companies \(cost: $14,631,1) Tj ET Q q 0 0 0 rg BT 167.83 387.68 Td (17\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 509.00 387.68 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.60 387.68 Td (16,139,296) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 361.68 Td (Unaffiliated Publicly ) Tj ET Q q 0 0 0 rg BT 143.02 361.68 Td (T) Tj ET Q q 0 0 0 rg BT 149.23 361.68 Td (raded Securities -) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 346.68 Td (15.9% of net assets at value) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 319.67 Td (Adesto ) Tj ET Q q 0 0 0 rg BT 82.74 319.67 Td (T) Tj ET Q q 0 0 0 rg BT 88.41 319.67 Td (echnologies Corporation \(4\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.25 319.67 Td (Semiconductors) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 304.67 Td (Developing low-power) Tj ET Q q 0 0 0 rg BT 150.28 304.67 Td (, high-performance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 294.67 Td (solutions for the Internet of ) Tj ET Q q 0 0 0 rg BT 169.83 294.67 Td (Things \(IoT\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 279.67 Td (Common Stock \(acquired 10/27/15-12/31/18\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.05 279.67 Td (\(M\) \(L1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.00 279.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.60 279.67 Td (6,564,931) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.60 279.67 Td (1,1) Tj ET Q q 0 0 0 rg BT 471.10 279.67 Td (16,675) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.00 279.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.60 279.67 Td (4,913,370) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 244.67 Td (Air) Tj ET Q q 0 0 0 rg BT 65.24 244.67 Td (gain, Inc. \(4\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.95 254.57 Td (Electronic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.20 244.57 Td (Components) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 229.67 Td (Providing advanced antenna technologies for) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 219.67 Td (high-performance wireless networking) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 204.67 Td (Common Stock \(acquired 6/4/18-12/27/18\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.05 204.67 Td (\(M\) \(L1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.60 204.67 Td (1,614,289) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 204.67 Td (188,784) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.60 204.67 Td (1,870,849) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 168.67 Td (Emcore Corporation \(4\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 315.00 178.06 Td (Communications) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 326.65 168.56 Td (Equipment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 153.67 Td (Providing mixed-signal optical products) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 138.67 Td (Common Stock \(acquired 5/3/18-9/19/18\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.05 138.67 Td (\(M\) \(L1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.60 138.67 Td (2,684,497) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 138.67 Td (564,828) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.60 138.67 Td (2,372,278) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 111.67 Td (Intermolecular) Tj ET Q q 0 0 0 rg BT 110.46 111.67 Td (, Inc. \(4\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.25 111.67 Td (Semiconductors) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 96.67 Td (Providing advanced materials innovation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 86.67 Td (services and solutions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 71.67 Td (Common Stock \(acquired 1) Tj ET Q q 0 0 0 rg BT 167.89 71.67 Td (1/9/18-12/20/18\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.05 71.67 Td (\(M\) \(L1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.60 71.67 Td (1,328,661) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.60 71.67 Td (1,41) Tj ET Q q 0 0 0 rg BT 476.10 71.67 Td (1,729) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.60 71.67 Td (1,425,846) Tj ET Q endstream endobj 29 0 obj <> endobj 30 0 obj <> stream 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 779 m 49.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 779 m 245.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 755 m 245.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 245.5 779 m 307.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 245.5 755 m 307.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 307.5 779 m 311.5 779 l s 0 0 0 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m 561.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 779 m 561.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 755 m 561.5 755 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 245.5 721 m 307.5 721 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 721 m 384.5 721 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 721 m 443.5 721 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 721 m 502.5 721 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 721 m 561.5 721 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 235.80 769.68 Td (180 DEGREE CAPIT) Tj ET Q q 0 0 0 rg BT 328.77 769.68 Td (AL) Tj ET Q q 0 0 0 rg BT 342.02 769.68 Td ( CORP) Tj ET Q q 0 0 0 rg BT 372.11 769.68 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 126.10 759.68 Td (CONSOLIDA) Tj ET Q q 0 0 0 rg BT 186.30 759.68 Td (TED SCHEDULE OF) Tj ET Q q 0 0 0 rg BT 280.20 759.68 Td ( INVESTMENTS ) Tj ET Q q 0 0 0 rg BT 357.54 759.68 Td (AS OF) Tj ET Q q 0 0 0 rg BT 386.25 759.68 Td ( DECEMBER 31, 2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 253.90 735.68 Td (Methodof) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 248.25 725.68 Td (V) Tj ET Q q 0 0 0 rg BT 254.55 725.68 Td (aluation\(1\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 328.85 725.68 Td (Industry) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 405.75 725.68 Td (Cost) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 458.75 735.68 Td (Shar) Tj ET Q q 0 0 0 rg BT 479.13 735.68 Td (es/) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.75 725.68 Td (Principal) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.45 725.68 Td (V) Tj ET Q q 0 0 0 rg BT 527.75 725.68 Td (alue) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.30 38.10 Td (The accompanying notes are an integral part of these consolidated financial statements.) 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3 M 388.5 328 m 443.5 328 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 328 m 561.5 328 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 289 m 561.5 289 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 249 m 561.5 249 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 696.68 Td (Investments in Unaffiliated Companies \(2\) -) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 682.68 Td (35.6% of net assets at value \(cont.\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 643.68 Td (Unaffiliated Publicly ) Tj ET Q q 0 0 0 rg BT 143.02 643.68 Td (T) Tj ET Q q 0 0 0 rg BT 149.23 643.68 Td (raded Securities -) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 629.68 Td (15.9% of net assets at value \(cont.\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 591.67 Td (Lantronix, Inc. \(4\)) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 315.00 601.06 Td (Communications) Tj ET Q BT /F1 9.50 Tf ET q 0 0 0 rg BT 326.65 591.56 Td (Equipment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 576.67 Td (Providing secure data access and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 566.67 Td (management solutions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 551.67 Td (Common Stock \(acquired 9/18/18-12/17/18\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.05 551.67 Td (\(M\) \(L1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.00 551.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.60 551.67 Td (1,475,580) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 551.67 Td (400,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.00 551.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.60 551.67 Td (1,176,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 521.67 Td (Mersana ) Tj ET Q q 0 0 0 rg BT 88.84 521.67 Td (Therapeutics, Inc. \(4\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.05 521.67 Td (Biotechnology) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 506.67 Td (Developing antibody drug conjugates for) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 496.67 Td (cancer therapy) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 481.67 Td (Common Stock \(acquired 7/27/12-12/31/18\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.05 481.67 Td (\(M\) \(L1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.60 481.67 Td (4,414,817) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 481.67 Td (301,100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.60 481.67 Td (1,228,488) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 451.67 Td (OpGen, Inc. \(4\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.05 451.67 Td (Biotechnology) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 436.67 Td (Developing tools for genomic sequence) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 426.67 Td (assembly and analysis) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 411.67 Td (W) Tj ET Q q 0 0 0 rg BT 67.04 411.67 Td (arrants for the Purchase of Common Stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 401.67 Td (expiring 5/8/20 \(acquired 5/5/15\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.05 401.67 Td (\(M\) \(L2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 401.67 Td (425,579) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 401.67 Td (12,033) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 401.67 Td (989) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 387.57 Td (W) Tj ET Q q 0 0 0 rg BT 66.64 387.57 Td (arrants for the Purchase of Common Stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 377.57 Td (expiring 2/17/25 \(acquired 5/5/15\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.85 377.67 Td (\(I\) \(L3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 377.67 Td (785) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.15 377.67 Td (1,248) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 377.67 Td (202) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 362.67 Td (426,364) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 362.67 Td (1,191) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 332.67 Td (Miscellaneous Common Stocks \(4\)\(9\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.05 332.67 Td (\(M\) \(L1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.15 332.67 Td (46,863) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 332.67 Td (44,554) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 303.68 Td (T) Tj ET Q q 0 0 0 rg BT 58.21 303.68 Td (otal Unaffiliated Publicly ) Tj ET Q q 0 0 0 rg BT 167.38 303.68 Td (T) Tj ET Q q 0 0 0 rg BT 173.59 303.68 Td (raded) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 293.68 Td (Securities \(cost: $18,556,002\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 509.00 293.68 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.60 293.68 Td (13,032,576) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 263.68 Td (T) Tj ET Q q 0 0 0 rg BT 57.75 263.68 Td (otal Investments in Unaffiliated) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 253.68 Td (Companies \(cost: $33,187,1) Tj ET Q q 0 0 0 rg BT 167.55 253.68 Td (19\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 509.00 253.68 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.60 253.68 Td (29,171,872) Tj ET Q endstream endobj 31 0 obj <> endobj 32 0 obj <> stream 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 779 m 49.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 779 m 245.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 755 m 245.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 245.5 779 m 307.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 245.5 755 m 307.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 307.5 779 m 311.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 307.5 755 m 311.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 779 m 384.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 755 m 384.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 384.5 779 m 388.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 384.5 755 m 388.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 779 m 443.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 755 m 443.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 779 m 447.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 755 m 447.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 779 m 502.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 755 m 502.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 779 m 506.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 755 m 506.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 779 m 561.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 779 m 561.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 755 m 561.5 755 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 245.5 721 m 307.5 721 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 721 m 384.5 721 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 721 m 443.5 721 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 721 m 502.5 721 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 721 m 561.5 721 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 235.80 769.68 Td (180 DEGREE CAPIT) Tj ET Q q 0 0 0 rg BT 328.77 769.68 Td (AL) Tj ET Q q 0 0 0 rg BT 342.02 769.68 Td ( CORP) Tj ET Q q 0 0 0 rg BT 372.11 769.68 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 126.10 759.68 Td (CONSOLIDA) Tj ET Q q 0 0 0 rg BT 186.30 759.68 Td (TED SCHEDULE OF) Tj ET Q q 0 0 0 rg BT 280.20 759.68 Td ( INVESTMENTS ) Tj ET Q q 0 0 0 rg BT 357.54 759.68 Td (AS OF) Tj ET Q q 0 0 0 rg BT 386.25 759.68 Td ( DECEMBER 31, 2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 253.90 735.68 Td (Methodof) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 248.25 725.68 Td (V) Tj ET Q q 0 0 0 rg BT 254.55 725.68 Td (aluation\(1\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 328.85 725.68 Td (Industry) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 405.75 725.68 Td (Cost) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 458.75 735.68 Td (Shar) Tj ET Q q 0 0 0 rg BT 479.13 735.68 Td (es/) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.75 725.68 Td (Principal) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.45 725.68 Td (V) Tj ET Q q 0 0 0 rg BT 527.75 725.68 Td (alue) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.30 38.10 Td (The accompanying notes are an integral part of these consolidated financial statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 26.10 Td (15) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 667.00 196.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 245.50 667.00 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.50 667.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.50 667.00 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.50 667.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 667.00 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 667.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.50 667.00 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 667.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 667.00 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 623.00 196.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 245.50 623.00 62.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.50 623.00 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.50 623.00 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.50 623.00 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 623.00 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 623.00 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.50 623.00 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 623.00 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 623.00 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 438.00 196.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 245.50 438.00 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.50 438.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.50 438.00 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.50 438.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 438.00 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 438.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.50 438.00 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 438.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 438.00 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 256.00 196.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 245.50 256.00 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.50 256.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.50 256.00 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.50 256.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 256.00 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 256.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.50 256.00 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 256.00 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s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 438 m 443.5 438 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 438 m 561.5 438 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 271 m 443.5 271 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 271 m 561.5 271 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 256 m 443.5 256 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 256 m 561.5 256 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 156 m 443.5 156 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 156 m 561.5 156 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 696.68 Td (Investments in Non-Contr) Tj ET Q q 0 0 0 rg BT 163.58 696.68 Td (olled ) Tj ET Q q 0 0 0 rg BT 186.27 696.68 Td (Affiliated) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 686.68 Td (Companies \(2\) -) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 671.68 Td (46.7% of net assets at value) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 641.68 Td (Privately Held Companies \(Illiquid\) -) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 627.68 Td (32.2% of net assets at value) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 588.67 Td (ABSMaterials, Inc. \(3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.85 598.67 Td (Specialty) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.35 588.67 Td (Chemicals) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 574.57 Td (Developing nano-structured absorbent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 564.57 Td (materials for water remediation and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 554.57 Td (consumer applications) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 540.57 Td (Series ) Tj ET Q q 0 0 0 rg BT 84.66 540.57 Td (A) Tj ET Q q 0 0 0 rg BT 91.33 540.57 Td ( Convertible Preferred Stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 530.57 Td (\(acquired 2/17/10-10/24/1) Tj ET Q q 0 0 0 rg BT 162.51 530.57 Td (1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.85 530.67 Td (\(I\) \(L3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.00 530.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 530.67 Td (435,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 530.67 Td (390,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.00 530.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 530.67 Td (15,864) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 516.57 Td (Series B Convertible Preferred Stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 506.57 Td (\(acquired 1) Tj ET Q q 0 0 0 rg BT 103.07 506.57 Td (1/8/13-6/25/14\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.85 506.67 Td (\(I\) \(L3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.60 506.67 Td (1,217,644) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.60 506.67 Td (1,037,751) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 506.67 Td (286,562) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 492.57 Td (Secured Convertible Bridge Note, 8% PIK,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 482.57 Td (\(acquired 1/20/16, maturing 12/31/19\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.05 482.67 Td (\(M\) \(L3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 482.67 Td (123,605) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.00 482.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 482.67 Td (100,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 482.67 Td (123,605) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 467.67 Td (Secured Convertible Bridge Note, 8% PIK,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 457.67 Td (\(acquired 3/28/17, maturing 12/31/19\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.05 457.67 Td (\(M\) \(L3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.15 457.67 Td (28,529) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.00 457.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 457.67 Td (25,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 457.67 Td (28,529) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.60 442.67 Td (1,804,778) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 442.67 Td (454,560) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 395.67 Td (AgBiome, LLC \(3\)\(4\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 324.60 413.46 Td (Fertilizers &) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 325.50 404.46 Td (Agricultural) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 328.50 395.46 Td (Chemicals) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 380.67 Td (Providing early-stage research and discovery) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 370.67 Td (for agriculture and utilizing the crop) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 360.67 Td (microbiome to identify products that reduce) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 350.67 Td (risk and improve yield) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 335.67 Td (Series ) Tj ET Q q 0 0 0 rg BT 84.66 335.67 Td (A-1 Convertible Preferred Units) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 325.67 Td (\(acquired 1/30/13\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.85 325.67 Td (\(I\) \(L3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.60 325.67 Td (2,000,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.60 325.67 Td (2,000,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.60 325.67 Td (10,442,684) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 310.67 Td (Series ) Tj ET Q q 0 0 0 rg BT 84.66 310.67 Td (A-2 Convertible Preferred Units) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 300.67 Td (\(acquired 4/9/13-10/15/13\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.85 300.67 Td (\(I\) \(L3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 300.67 Td (521,740) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 300.67 Td (417,392) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.60 300.67 Td (2,214,058) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 285.67 Td (Series B Convertible Preferred Units) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 275.67 Td (\(acquired 8/7/15\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.85 275.67 Td (\(I\) \(L3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 275.67 Td (500,006) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 275.67 Td (160,526) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 275.67 Td (951,079) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.60 260.67 Td (3,021,746) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.60 260.67 Td (13,607,821) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 210.67 Td (Coba ) Tj ET Q q 0 0 0 rg BT 75.43 210.67 Td (Therapeutics Corporation \(3\)\(10\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 195.67 Td (Developed therapeutics for obesity) Tj ET Q q 0 0 0 rg BT 197.35 195.67 Td (, diabetes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 185.67 Td (and liver diseases) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.70 185.67 Td (Pharmaceuticals) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 170.67 Td (Unsecured Convertible Bridge Note, 6% PIK,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 160.67 Td (\(acquired 2/27/18, maturing 2/27/19\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.85 160.67 Td (\(I\) \(L3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 160.67 Td (151,606) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.00 160.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 160.67 Td (145,530) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 160.67 Td (21,776) Tj ET Q endstream endobj 33 0 obj <> endobj 34 0 obj <> stream 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 779 m 49.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 779 m 245.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 755 m 245.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 245.5 779 m 307.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 245.5 755 m 307.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 307.5 779 m 311.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 307.5 755 m 311.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 779 m 384.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 755 m 384.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 384.5 779 m 388.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 384.5 755 m 388.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 779 m 443.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 755 m 443.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 779 m 447.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 755 m 447.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 779 m 502.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 755 m 502.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 779 m 506.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 755 m 506.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 779 m 561.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 779 m 561.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 755 m 561.5 755 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 245.5 721 m 307.5 721 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 721 m 384.5 721 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 721 m 443.5 721 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 721 m 502.5 721 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 721 m 561.5 721 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 235.80 769.68 Td (180 DEGREE CAPIT) Tj ET Q q 0 0 0 rg BT 328.77 769.68 Td (AL) Tj ET Q q 0 0 0 rg BT 342.02 769.68 Td ( CORP) Tj ET Q q 0 0 0 rg BT 372.11 769.68 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 126.10 759.68 Td (CONSOLIDA) Tj ET Q q 0 0 0 rg BT 186.30 759.68 Td (TED SCHEDULE OF) Tj ET Q q 0 0 0 rg BT 280.20 759.68 Td ( INVESTMENTS ) Tj ET Q q 0 0 0 rg BT 357.54 759.68 Td (AS OF) Tj ET Q q 0 0 0 rg BT 386.25 759.68 Td ( DECEMBER 31, 2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 253.90 735.68 Td (Methodof) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 248.25 725.68 Td (V) Tj ET Q q 0 0 0 rg BT 254.55 725.68 Td (aluation\(1\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 328.85 725.68 Td (Industry) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 405.75 725.68 Td (Cost) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 458.75 735.68 Td (Shar) Tj ET Q q 0 0 0 rg BT 479.13 735.68 Td (es/) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.75 725.68 Td (Principal) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.45 725.68 Td (V) Tj ET Q q 0 0 0 rg BT 527.75 725.68 Td (alue) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.30 38.10 Td (The accompanying notes are an integral part of these consolidated financial statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 26.10 Td (16) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 668.00 196.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 245.50 668.00 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.50 668.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.50 668.00 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.50 668.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 668.00 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 668.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.50 668.00 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 668.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 668.00 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 625.00 196.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 245.50 625.00 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.50 625.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.50 625.00 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.50 625.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 625.00 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 625.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.50 625.00 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 625.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 625.00 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 462.00 196.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 245.50 462.00 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.50 462.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.50 462.00 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.50 462.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 462.00 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 462.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.50 462.00 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 462.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 462.00 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 319.00 196.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 245.50 319.00 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.50 319.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.50 319.00 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.50 319.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 319.00 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 319.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.50 319.00 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 319.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 319.00 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 229.00 196.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 245.50 229.00 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.50 229.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.50 229.00 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.50 229.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 229.00 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 229.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.50 229.00 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 229.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 229.00 55.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 477 m 443.5 477 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 462 m 443.5 462 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 477 m 561.5 477 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 462 m 561.5 462 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 334 m 443.5 334 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 334 m 561.5 334 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 319 m 443.5 319 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 319 m 561.5 319 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 229 m 443.5 229 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 229 m 561.5 229 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 84 m 443.5 84 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 84 m 561.5 84 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 69 m 443.5 69 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 69 m 561.5 69 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 696.68 Td (Investments in Non-Contr) Tj ET Q q 0 0 0 rg BT 163.58 696.68 Td (olled ) Tj ET Q q 0 0 0 rg BT 186.27 696.68 Td (Affiliated) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 686.68 Td (Companies \(2\) -) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 672.68 Td (46.7% of net assets at value \(cont.\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 643.68 Td (Privately Held Companies \(Illiquid\) -) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 629.68 Td (32.2% of net assets at value \(cont.\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 591.67 Td (EchoPixel, Inc. \(3\)\(4\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 325.85 600.46 Td (Health Care) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 327.75 591.46 Td (Equipment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 576.67 Td (Developing virtual reality 3-D visualization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 566.67 Td (software for life sciences and health care) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 556.67 Td (applications) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 541.67 Td (Series Seed Convertible Preferred Stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 531.67 Td (\(acquired 6/21/13-6/30/14\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.85 531.67 Td (\(I\) \(L3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.00 531.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.60 531.67 Td (1,250,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.60 531.67 Td (4,194,630) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.00 531.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.60 531.67 Td (1,201,023) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 516.67 Td (Series Seed-2 Convertible Preferred Stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 506.67 Td (\(acquired 1/22/16\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.85 506.67 Td (\(I\) \(L3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 506.67 Td (500,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.60 506.67 Td (1,476,668) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 506.67 Td (429,732) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 491.67 Td (Series ) Tj ET Q q 0 0 0 rg BT 84.66 491.67 Td (A-2 Convertible Preferred Stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 481.67 Td (\(acquired 3/23/17\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.85 481.67 Td (\(I\) \(L3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 481.67 Td (350,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.60 481.67 Td (1,471,577) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 481.67 Td (499,616) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.60 466.67 Td (2,100,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.60 466.67 Td (2,130,371) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 428.67 Td (Essential Health Solutions, Inc. \(3\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 325.85 437.46 Td (Health Care) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 326.30 428.46 Td (T) Tj ET Q q 0 0 0 rg BT 331.48 428.46 Td (echnology) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 413.67 Td (Developing software for information transfer) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 403.67 Td (amongst healthcare providers and consumers) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 388.67 Td (Common Stock \(acquired 1) Tj ET Q q 0 0 0 rg BT 168.07 388.67 Td (1/18/16\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.85 388.67 Td (\(I\) \(L3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.65 388.67 Td (20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 388.67 Td (200,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 388.67 Td (128,339) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 373.67 Td (Series ) Tj ET Q q 0 0 0 rg BT 84.66 373.67 Td (A) Tj ET Q q 0 0 0 rg BT 91.33 373.67 Td ( Convertible Preferred Stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 363.67 Td (\(acquired 1) Tj ET Q q 0 0 0 rg BT 103.07 363.67 Td (1/18/16\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.85 363.67 Td (\(I\) \(L3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.60 363.67 Td (2,750,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.60 363.67 Td (2,750,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.60 363.67 Td (2,781,300) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 348.67 Td (Unsecured Convertible Bridge Note, 8% PIK,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 338.67 Td (\(acquired 12/19/18, maturing 12/19/19\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.05 338.67 Td (\(M\) \(L3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.15 338.67 Td (50,142) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.00 338.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 338.67 Td (50,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 338.67 Td (50,142) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.60 323.67 Td (2,800,162) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.60 323.67 Td (2,959,781) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 293.67 Td (Lodo ) Tj ET Q q 0 0 0 rg BT 75.52 293.67 Td (Therapeutics Corporation \(3\)\(4\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.70 293.67 Td (Pharmaceuticals) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 278.67 Td (Developing and commercializing novel) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 268.67 Td (therapeutics derived from a metagenome-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 258.67 Td (based Natural Product Discovery Platform) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 243.67 Td (Series ) Tj ET Q q 0 0 0 rg BT 84.66 243.67 Td (A) Tj ET Q q 0 0 0 rg BT 91.33 243.67 Td ( Convertible Preferred Stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 233.67 Td (\(acquired 12/21/15-4/22/16\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.85 233.67 Td (\(I\) \(L3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 233.67 Td (658,190) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 233.67 Td (658,190) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 233.67 Td (779,467) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 184.67 Td (NGX Bio, Inc. \(3\)\(4\)\(10\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 326.35 202.46 Td (Research &) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 327.70 193.46 Td (Consulting) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 332.25 184.46 Td (Services) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 160.67 Td (Developing translational genomics solutions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 146.57 Td (Series Seed Convertible Preferred Stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 136.57 Td (\(acquired 6/6/14-1/10/16\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.85 136.67 Td (\(I\) \(L3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 136.67 Td (500,002) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 136.67 Td (666,667) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 136.67 Td (17,273) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 122.57 Td (Series Seed 2 Convertible Preferred Stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 112.57 Td (\(acquired 8/20/15-9/30/15\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.85 112.67 Td (\(I\) \(L3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 112.67 Td (499,999) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 112.67 Td (329,989) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 112.67 Td (8,550) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 98.57 Td (Series Seed 3 Convertible Preferred Stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 88.57 Td (\(acquired 6/26/17\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.85 88.67 Td (\(I\) \(L3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 88.67 Td (686,329) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 88.67 Td (666,001) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 88.67 Td (17,256) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.60 73.67 Td (1,686,330) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 73.67 Td (43,079) Tj ET Q endstream endobj 35 0 obj <> endobj 36 0 obj <> stream 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 779 m 49.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 779 m 245.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 755 m 245.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 245.5 779 m 307.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 245.5 755 m 307.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 307.5 779 m 311.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 307.5 755 m 311.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 779 m 384.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 755 m 384.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 384.5 779 m 388.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 384.5 755 m 388.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 779 m 443.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 755 m 443.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 779 m 447.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 755 m 447.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 779 m 502.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 755 m 502.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 779 m 506.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 755 m 506.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 779 m 561.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 779 m 561.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 755 m 561.5 755 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 245.5 721 m 307.5 721 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 721 m 384.5 721 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 721 m 443.5 721 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 721 m 502.5 721 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 721 m 561.5 721 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 235.80 769.68 Td (180 DEGREE CAPIT) Tj ET Q q 0 0 0 rg BT 328.77 769.68 Td (AL) Tj ET Q q 0 0 0 rg BT 342.02 769.68 Td ( CORP) Tj ET Q q 0 0 0 rg BT 372.11 769.68 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 126.10 759.68 Td (CONSOLIDA) Tj ET Q q 0 0 0 rg BT 186.30 759.68 Td (TED SCHEDULE OF) Tj ET Q q 0 0 0 rg BT 280.20 759.68 Td ( INVESTMENTS ) Tj ET Q q 0 0 0 rg BT 357.54 759.68 Td (AS OF) Tj ET Q q 0 0 0 rg BT 386.25 759.68 Td ( DECEMBER 31, 2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 253.90 735.68 Td (Methodof) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 248.25 725.68 Td (V) Tj ET Q q 0 0 0 rg BT 254.55 725.68 Td (aluation\(1\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 328.85 725.68 Td (Industry) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 405.75 725.68 Td (Cost) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 458.75 735.68 Td (Shar) Tj ET Q q 0 0 0 rg BT 479.13 735.68 Td (es/) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.75 725.68 Td (Principal) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.45 725.68 Td (V) Tj ET Q q 0 0 0 rg BT 527.75 725.68 Td (alue) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.30 38.10 Td (The accompanying notes are an integral part of these consolidated financial statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 26.10 Td (17) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 667.00 196.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 245.50 667.00 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.50 667.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.50 667.00 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.50 667.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 667.00 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 667.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.50 667.00 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 667.00 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 667.00 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 622.00 196.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 245.50 622.00 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 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s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 480 m 443.5 480 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 480 m 561.5 480 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 310 m 443.5 310 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 310 m 561.5 310 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 295 m 443.5 295 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 295 m 561.5 295 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 180 m 443.5 180 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 180 m 561.5 180 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 165 m 443.5 165 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 165 m 561.5 165 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 125 m 561.5 125 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 696.68 Td (Investments in Non-Contr) Tj ET Q q 0 0 0 rg BT 163.58 696.68 Td (olled ) Tj ET Q q 0 0 0 rg BT 186.27 696.68 Td (Affiliated) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 686.68 Td (Companies \(2\) -) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 671.68 Td (46.7% of net assets at value \(cont.\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 641.68 Td (Privately Held Companies \(Illiquid\) -) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 626.68 Td (32.2% of net assets at value \(cont.\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 586.67 Td (ORIG3N, Inc. \(3\)\(4\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.45 596.67 Td (Health Care) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.95 586.67 Td (T) Tj ET Q q 0 0 0 rg BT 329.71 586.67 Td (echnology) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 571.67 Td (Developing consumer focused genetic tests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 557.57 Td (Series 1 Convertible Preferred Stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 547.57 Td (\(acquired 2/5/15-8/5/15\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.90 547.67 Td (\(H\) \(L3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.00 547.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 547.67 Td (500,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.60 547.67 Td (1,195,315) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.00 547.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.60 547.67 Td (1,232,502) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 533.57 Td (Series ) Tj ET Q q 0 0 0 rg BT 84.66 533.57 Td (A) Tj ET Q q 0 0 0 rg BT 91.33 533.57 Td ( Convertible Preferred Stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 523.57 Td (\(acquired 1) Tj ET Q q 0 0 0 rg BT 103.07 523.57 Td (1/25/15-9/7/16\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.90 523.67 Td (\(H\) \(L3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.60 523.67 Td (1,500,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.60 523.67 Td (1,364,666) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.60 523.67 Td (1,431,936) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 509.57 Td (Series ) Tj ET Q q 0 0 0 rg BT 84.66 509.57 Td (A-2 Convertible Preferred Stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 499.57 Td (\(acquired 5/1) Tj ET Q q 0 0 0 rg BT 110.85 499.57 Td (1/17-2/8/18\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.90 499.67 Td (\(H\) \(L3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 499.67 Td (200,002) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 499.67 Td (176,386) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 499.67 Td (189,592) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.60 484.67 Td (2,200,002) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.60 484.67 Td (2,854,030) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 434.67 Td (Produced ) Tj ET Q q 0 0 0 rg BT 92.18 434.67 Td (W) Tj ET Q q 0 0 0 rg BT 101.13 434.67 Td (ater ) Tj ET Q q 0 0 0 rg BT 117.94 434.67 Td (Absorbents, Inc. \(3\)\(4\)\(1) Tj ET Q q 0 0 0 rg BT 217.44 434.67 Td (1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.90 454.67 Td (Oil & Gas) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.40 444.67 Td (Equipment &) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.55 434.67 Td (Services) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 419.67 Td (Providing integrated process separation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 409.67 Td (solutions to the global oil and gas industries,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 399.67 Td (enabling onsite treatment of produced and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 389.67 Td (flowback water) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 374.67 Td (Common Stock \(acquired 4/30/16\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.05 374.67 Td (\(M\) \(L3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.60 374.67 Td (7,670,281) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.60 374.67 Td (50,243,350) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 374.67 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 359.67 Td (W) Tj ET Q q 0 0 0 rg BT 67.04 359.67 Td (arrants for Common Stock expiring upon) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 349.67 Td (liquidation event \(acquired 4/30/16\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.05 349.67 Td (\(M\) \(L3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.15 349.67 Td (65,250) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 349.67 Td (450,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 349.67 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 334.67 Td (Senior Secured Debt, 15% commencing on) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 324.67 Td (4/1/16, maturing on 12/31/19 \(acquired) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 314.67 Td (4/1/16\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.05 314.67 Td (\(M\) \(L3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.60 314.67 Td (2,323,680) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.00 314.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.60 314.67 Td (2,533,766) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 314.67 Td (76,863) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.60 299.67 Td (10,059,21) Tj ET Q q 0 0 0 rg BT 434.60 299.67 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 299.67 Td (76,863) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 249.67 Td (T) Tj ET Q q 0 0 0 rg BT 57.31 249.67 Td (ARA) Tj ET Q q 0 0 0 rg BT 77.87 249.67 Td ( Biosystems, Inc. \(3\)\(4\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.40 269.67 Td (Life Sciences) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.30 259.67 Td (T) Tj ET Q q 0 0 0 rg BT 337.06 259.67 Td (ools &) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.55 249.67 Td (Services) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 234.67 Td (Developing human tissue models for) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 224.67 Td (toxicology and drug discovery applications) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 209.67 Td (Common Stock \(acquired 8/20/14\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.85 209.67 Td (\(I\) \(L3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.65 209.67 Td (20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.60 209.67 Td (2,000,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 209.67 Td (659,162) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 194.67 Td (Series ) Tj ET Q q 0 0 0 rg BT 84.39 194.67 Td (A) Tj ET Q q 0 0 0 rg BT 91.06 194.67 Td ( Convertible Preferred Stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 184.67 Td (\(acquired 3/31/17\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.85 184.67 Td (\(I\) \(L3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.60 184.67 Td (2,545,493) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.60 184.67 Td (6,878,572) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.60 184.67 Td (2,842,393) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.60 169.67 Td (2,545,513) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.60 169.67 Td (3,501,555) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 139.68 Td (T) Tj ET Q q 0 0 0 rg BT 57.75 139.68 Td (otal Non-Contr) Tj ET Q q 0 0 0 rg BT 122.84 139.68 Td (olled ) Tj ET Q q 0 0 0 rg BT 145.35 139.68 Td (Affiliated Privately) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 129.68 Td (Held Companies \(cost: $27,027,538\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 509.00 129.68 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.60 129.68 Td (26,429,303) Tj ET Q endstream endobj 37 0 obj <> endobj 38 0 obj <> stream 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 779 m 49.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 779 m 245.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 755 m 245.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 245.5 779 m 307.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 245.5 755 m 307.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 307.5 779 m 311.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 307.5 755 m 311.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 779 m 384.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 755 m 384.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 384.5 779 m 388.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 384.5 755 m 388.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 779 m 443.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 755 m 443.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 779 m 447.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 755 m 447.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 779 m 502.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 755 m 502.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 779 m 506.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 755 m 506.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 779 m 561.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 779 m 561.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 755 m 561.5 755 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 245.5 721 m 307.5 721 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 721 m 384.5 721 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 721 m 443.5 721 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 721 m 502.5 721 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 721 m 561.5 721 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 235.80 769.68 Td (180 DEGREE CAPIT) Tj ET Q q 0 0 0 rg BT 328.77 769.68 Td (AL) Tj ET Q q 0 0 0 rg BT 342.02 769.68 Td ( CORP) Tj ET Q q 0 0 0 rg BT 372.11 769.68 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 126.10 759.68 Td (CONSOLIDA) Tj ET Q q 0 0 0 rg BT 186.30 759.68 Td (TED SCHEDULE OF) Tj ET Q q 0 0 0 rg BT 280.20 759.68 Td ( INVESTMENTS ) Tj ET Q q 0 0 0 rg BT 357.54 759.68 Td (AS OF) Tj ET Q q 0 0 0 rg BT 386.25 759.68 Td ( DECEMBER 31, 2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 253.90 735.68 Td (Methodof) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 248.25 725.68 Td (V) Tj ET Q q 0 0 0 rg BT 254.55 725.68 Td (aluation\(1\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 328.85 725.68 Td (Industry) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 405.75 725.68 Td (Cost) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 458.75 735.68 Td (Shar) Tj ET Q q 0 0 0 rg BT 479.13 735.68 Td (es/) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.75 725.68 Td (Principal) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.45 725.68 Td (V) Tj ET Q q 0 0 0 rg BT 527.75 725.68 Td (alue) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.30 38.10 Td (The accompanying notes are an integral part of these consolidated financial statements.) 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3 M 506.5 213 m 561.5 213 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 164 m 561.5 164 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 115 m 561.5 115 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 695.68 Td (Investments in Contr) Tj ET Q q 0 0 0 rg BT 142.47 695.68 Td (olled ) Tj ET Q q 0 0 0 rg BT 165.16 695.68 Td (Affiliated) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 685.68 Td (Companies \(2\) -) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 670.68 Td (6.4% of net assets at value) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 643.68 Td (Privately Held Companies \(Illiquid\) -) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 628.68 Td (6.4% of net assets at value) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 598.67 Td (Black Silicon Holdings, Inc. \(3\)\(10\)\(14\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.25 598.67 Td (Semiconductors) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 583.67 Td (Holding company for interest in a company) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 573.67 Td (that develops silicon-based optoelectronic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 563.67 Td (products) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 548.67 Td (Series ) Tj ET Q q 0 0 0 rg BT 84.66 548.67 Td (A) Tj ET Q q 0 0 0 rg BT 91.33 548.67 Td ( Convertible Preferred Stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 538.67 Td (\(acquired 8/4/15\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.05 538.67 Td (\(M\) \(L3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.00 538.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 538.67 Td (750,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 538.67 Td (233,499) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.00 538.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 538.67 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 523.67 Td (Series ) Tj ET Q q 0 0 0 rg BT 84.66 523.67 Td (A-1 Convertible Preferred Stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 513.67 Td (\(acquired 8/4/15\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.05 513.67 Td (\(M\) \(L3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 513.67 Td (890,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.60 513.67 Td (2,966,667) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 513.67 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 498.67 Td (Series ) Tj ET Q q 0 0 0 rg BT 84.66 498.67 Td (A-2 Convertible Preferred Stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 488.67 Td (\(acquired 8/4/15\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.05 488.67 Td (\(M\) \(L3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.60 488.67 Td (2,445,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.60 488.67 Td (4,207,537) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 488.67 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 473.67 Td (Series B-1 Convertible Preferred Stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 463.67 Td (\(acquired 8/4/15\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.05 463.67 Td (\(M\) \(L3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.60 463.67 Td (1,169,561) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.60 463.67 Td (1,892,836) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 463.67 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 448.67 Td (Series C Convertible Preferred Stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 438.67 Td (\(acquired 8/4/15\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.05 438.67 Td (\(M\) \(L3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.60 438.67 Td (1,171,316) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.60 438.67 Td (1,674,030) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 438.67 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 423.67 Td (Secured Convertible Bridge Note, 8% PIK,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 413.67 Td (\(acquired 8/25/16, maturing 8/4/21\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.05 413.67 Td (\(M\) \(L3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.60 413.67 Td (1,444,368) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.00 413.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.60 413.67 Td (1,278,453) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 413.67 Td (476,187) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.60 398.67 Td (7,870,245) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 398.67 Td (476,187) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 358.67 Td (HALE.life Corporation \(3\)\(4\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.45 368.67 Td (Health Care) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.95 358.67 Td (T) Tj ET Q q 0 0 0 rg BT 329.71 358.67 Td (echnology) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 344.57 Td (Developing a platform to facilitate precision) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 334.57 Td (health and medicine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 319.67 Td (Common Stock \(acquired 3/1/16\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.85 319.67 Td (\(I\) \(L3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.65 319.67 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.60 319.67 Td (1,000,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 319.67 Td (146,462) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 305.57 Td (Series Seed-1 Convertible Preferred Stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 295.57 Td (\(acquired 3/28/17\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.85 295.67 Td (\(I\) \(L3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.60 295.67 Td (1,896,920) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.60 295.67 Td (1) Tj ET Q q 0 0 0 rg BT 458.60 295.67 Td (1,000,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.60 295.67 Td (2,147,894) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 281.57 Td (Series Seed-2 Convertible Preferred Stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 271.57 Td (\(acquired 12/28/18\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.85 271.67 Td (\(I\) \(L3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.60 271.67 Td (2,500,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.60 271.67 Td (12,083,132) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.60 271.67 Td (2,500,871) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.60 256.67 Td (4,396,930) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.60 256.67 Td (4,795,227) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 227.68 Td (T) Tj ET Q q 0 0 0 rg BT 58.21 227.68 Td (otal Contr) Tj ET Q q 0 0 0 rg BT 101.82 227.68 Td (olled ) Tj ET Q q 0 0 0 rg BT 124.51 227.68 Td (Affiliated Privately Held) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 217.68 Td (Companies \(cost: $12,267,175\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 509.00 217.68 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.60 217.68 Td (5,271,414) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 188.68 Td (T) Tj ET Q q 0 0 0 rg BT 58.21 188.68 Td (otal Investments in Contr) Tj ET Q q 0 0 0 rg BT 166.83 188.68 Td (olled ) Tj ET Q q 0 0 0 rg BT 189.52 188.68 Td (Affiliated) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 178.68 Td (Privately Held Companies \(cost:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 168.68 Td ($12,267,175\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 509.00 168.68 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.60 168.68 Td (5,271,414) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 139.68 Td (T) Tj ET Q q 0 0 0 rg BT 57.75 139.68 Td (otal Investments in Privately Held) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 129.68 Td (Companies and Publicly ) Tj ET Q q 0 0 0 rg BT 158.23 129.68 Td (T) Tj ET Q q 0 0 0 rg BT 164.16 129.68 Td (raded Securities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 119.68 Td (\(cost: $81,769,962\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 509.00 119.68 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.60 119.68 Td (72,779,966) Tj ET Q endstream endobj 41 0 obj <> endobj 42 0 obj <> stream 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 779 m 49.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 779 m 245.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 755 m 245.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 245.5 779 m 307.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 245.5 755 m 307.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 307.5 779 m 311.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 307.5 755 m 311.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 779 m 384.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 755 m 384.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 384.5 779 m 388.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 384.5 755 m 388.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 779 m 443.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 755 m 443.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 779 m 447.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 443.5 755 m 447.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 779 m 502.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 755 m 502.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 779 m 506.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 755 m 506.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 779 m 561.5 755 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 779 m 561.5 779 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 755 m 561.5 755 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 245.5 721 m 307.5 721 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311.5 721 m 384.5 721 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 721 m 443.5 721 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 721 m 502.5 721 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 721 m 561.5 721 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 235.80 769.68 Td (180 DEGREE CAPIT) Tj ET Q q 0 0 0 rg BT 328.77 769.68 Td (AL) Tj ET Q q 0 0 0 rg BT 342.02 769.68 Td ( CORP) Tj ET Q q 0 0 0 rg BT 372.11 769.68 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 126.10 759.68 Td (CONSOLIDA) Tj ET Q q 0 0 0 rg BT 186.30 759.68 Td (TED SCHEDULE OF) Tj ET Q q 0 0 0 rg BT 280.20 759.68 Td ( INVESTMENTS ) Tj ET Q q 0 0 0 rg BT 357.54 759.68 Td (AS OF) Tj ET Q q 0 0 0 rg BT 386.25 759.68 Td ( DECEMBER 31, 2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 253.90 735.68 Td (Methodof) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 248.25 725.68 Td (V) Tj ET Q q 0 0 0 rg BT 254.55 725.68 Td (aluation\(1\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 328.85 725.68 Td (Industry) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 405.75 725.68 Td (Cost) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 458.75 735.68 Td (Shar) Tj ET Q q 0 0 0 rg BT 479.13 735.68 Td (es/) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.75 725.68 Td (Principal) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.45 725.68 Td (V) Tj ET Q q 0 0 0 rg BT 527.75 725.68 Td (alue) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.30 38.10 Td (The accompanying notes are an integral part of these consolidated financial statements.) 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Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.00 318.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 318.67 Td (548,998) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.00 318.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.60 318.67 Td (2,019,283) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 258.67 Td (Xenio Holdings, Inc. \(3\)\(4\)\(17\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.95 288.67 Td (T) Tj ET Q q 0 0 0 rg BT 329.71 288.67 Td (echnology) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.50 278.67 Td (Hardware,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.05 268.67 Td (Storage &) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.00 258.67 Td (Peripherals) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 243.67 Td (Rights to Payments from the Mer) Tj ET Q q 0 0 0 rg BT 191.42 243.67 Td (ger with) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.00 233.67 Td (Xenio Systems, Inc. \(acquired 10/20/17\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.85 233.67 Td (\(I\) \(L3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 233.67 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.00 233.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.65 233.67 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 233.67 Td (0) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 204.68 Td (T) Tj ET Q q 0 0 0 rg BT 58.21 204.68 Td (otal Unaffiliated Rights to Payments \(cost:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 194.68 Td ($548,998\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 509.00 194.68 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.60 194.68 Td (2,019,283) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 165.68 Td (T) Tj ET Q q 0 0 0 rg BT 58.21 165.68 Td (otal Derivative Investments \(cost:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 155.68 Td ($548,998\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 509.00 155.68 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.60 155.68 Td (2,019,283) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 126.68 Td (T) Tj 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Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 100.60 748.75 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 136.82 748.75 Td (T) Tj ET Q q 0 0 0 rg BT 143.31 748.75 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 213.41 748.75 Td (TED SCHEDULE OF) Tj ET Q q 0 0 0 rg BT 307.50 748.75 Td ( INVESTMENTS ) Tj ET Q q 0 0 0 rg BT 384.75 748.75 Td (AS OF) Tj ET Q q 0 0 0 rg BT 413.55 748.75 Td ( DECEMBER 31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.30 38.10 Td (The accompanying notes are an integral part of these consolidated financial statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 26.10 Td (21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 717.60 Td (Notes ) Tj ET Q q 0 0 0 rg BT 75.33 717.60 Td (to ) Tj ET Q q 0 0 0 rg BT 85.61 717.60 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 140.88 717.60 Td (Schedule ) Tj ET Q q 0 0 0 rg BT 180.04 717.60 Td (of ) Tj ET Q q 0 0 0 rg BT 190.87 717.60 Td (Investments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 693.60 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 693.60 Td (See ) Tj ET Q q 0 0 0 rg BT 101.89 693.60 Td ("Note ) Tj ET Q q 0 0 0 rg BT 127.35 693.60 Td (2. ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 136.80078125 692.2669921875 m 448.3466796875 692.2669921875 l s q 0 0 0 rg BT 136.80 693.60 Td (Summary ) Tj ET Q q 0 0 0 rg BT 177.63 693.60 Td (of ) Tj ET Q q 0 0 0 rg BT 187.91 693.60 Td (Significant ) Tj ET Q q 0 0 0 rg BT 233.31 693.60 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 281.91 693.60 Td (Policies: ) Tj ET Q q 0 0 0 rg BT 318.30 693.60 Td (Portfolio ) Tj ET Q q 0 0 0 rg BT 355.81 693.60 Td (Investment ) Tj ET Q q 0 0 0 rg BT 402.05 693.60 Td (V) Tj ET Q q 0 0 0 rg BT 408.16 693.60 Td (aluations") Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.35 693.60 Td ( ) Tj ET Q q 0 0 0 rg BT 450.29 693.60 Td (of ) Tj ET Q q 0 0 0 rg BT 460.57 693.60 Td (the ) Tj ET Q q 0 0 0 rg BT 474.74 693.60 Td (Notes ) Tj ET Q q 0 0 0 rg BT 500.01 693.60 Td (to ) Tj ET Q q 0 0 0 rg BT 509.74 693.60 Td (Consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 681.60 Td (Financial ) Tj ET Q q 0 0 0 rg BT 125.21 681.60 Td (Statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 657.60 Td (\(2\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 657.60 Td (Investments ) Tj ET Q q 0 0 0 rg BT 135.99 657.60 Td (in ) Tj ET Q q 0 0 0 rg BT 145.93 657.60 Td (unaf) Tj ET Q q 0 0 0 rg BT 163.52 657.60 Td (filiated ) Tj ET Q q 0 0 0 rg BT 194.01 657.60 Td (companies ) Tj ET Q q 0 0 0 rg BT 238.93 657.60 Td (consist ) Tj ET Q q 0 0 0 rg BT 268.88 657.60 Td (of ) Tj ET Q q 0 0 0 rg BT 279.37 657.60 Td (investments ) Tj ET Q q 0 0 0 rg BT 329.31 657.60 Td (in ) Tj ET Q q 0 0 0 rg BT 339.25 657.60 Td (which ) Tj ET Q q 0 0 0 rg BT 365.85 657.60 Td (we ) Tj ET Q q 0 0 0 rg BT 379.68 657.60 Td (own ) Tj ET Q q 0 0 0 rg BT 399.07 657.60 Td (less ) Tj ET Q q 0 0 0 rg BT 416.23 657.60 Td (than ) Tj ET Q q 0 0 0 rg BT 435.61 657.60 Td (five ) Tj ET Q q 0 0 0 rg BT 453.32 657.60 Td (percent ) Tj ET Q q 0 0 0 rg BT 484.91 657.60 Td (of ) Tj ET Q q 0 0 0 rg BT 495.41 657.60 Td (the ) Tj ET Q q 0 0 0 rg BT 509.79 657.60 Td (voting ) Tj ET Q q 0 0 0 rg BT 537.51 657.60 Td (shares ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 645.60 Td (of ) Tj ET Q q 0 0 0 rg BT 96.79 645.60 Td (the ) Tj ET Q q 0 0 0 rg BT 111.96 645.60 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 149.91 645.60 Td (company) Tj ET Q q 0 0 0 rg BT 185.91 645.60 Td (. ) Tj ET Q q 0 0 0 rg BT 191.37 645.60 Td (Investments ) Tj ET Q q 0 0 0 rg BT 242.65 645.60 Td (in ) Tj ET Q q 0 0 0 rg BT 253.38 645.60 Td (non-controlled ) Tj ET Q q 0 0 0 rg BT 315.21 645.60 Td (af) Tj ET Q q 0 0 0 rg BT 322.80 645.60 Td (filiated ) Tj ET Q q 0 0 0 rg BT 354.08 645.60 Td (companies ) Tj ET Q q 0 0 0 rg BT 399.80 645.60 Td (consist ) Tj ET Q q 0 0 0 rg BT 430.53 645.60 Td (of ) Tj ET Q q 0 0 0 rg BT 441.81 645.60 Td (investments ) Tj ET Q q 0 0 0 rg BT 492.54 645.60 Td (in ) Tj ET Q q 0 0 0 rg BT 503.28 645.60 Td (which ) Tj ET Q q 0 0 0 rg BT 530.67 645.60 Td (we ) Tj ET Q q 0 0 0 rg BT 545.29 645.60 Td (own ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 633.60 Td (five ) Tj ET Q q 0 0 0 rg BT 103.46 633.60 Td (percent ) Tj ET Q q 0 0 0 rg BT 135.30 633.60 Td (or ) Tj ET Q q 0 0 0 rg BT 146.04 633.60 Td (more, ) Tj ET Q q 0 0 0 rg BT 171.50 633.60 Td (but ) Tj ET Q q 0 0 0 rg BT 186.69 633.60 Td (less ) Tj ET Q q 0 0 0 rg BT 204.11 633.60 Td (than ) Tj ET Q q 0 0 0 rg BT 223.74 633.60 Td (25 ) Tj ET Q q 0 0 0 rg BT 236.15 633.60 Td (percent, ) Tj ET Q q 0 0 0 rg BT 270.49 633.60 Td (of ) Tj ET Q q 0 0 0 rg BT 281.23 633.60 Td (the ) Tj ET Q q 0 0 0 rg BT 295.86 633.60 Td (voting ) Tj ET Q q 0 0 0 rg BT 323.83 633.60 Td (shares ) Tj ET Q q 0 0 0 rg BT 351.24 633.60 Td (of ) Tj ET Q q 0 0 0 rg BT 361.98 633.60 Td (the ) Tj ET Q q 0 0 0 rg BT 376.61 633.60 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 414.02 633.60 Td (company) Tj ET Q q 0 0 0 rg BT 450.03 633.60 Td (, ) Tj ET Q q 0 0 0 rg BT 454.94 633.60 Td (or ) Tj ET Q q 0 0 0 rg BT 465.68 633.60 Td (where ) Tj ET Q q 0 0 0 rg BT 492.52 633.60 Td (we ) Tj ET Q q 0 0 0 rg BT 506.60 633.60 Td (control ) Tj ET Q q 0 0 0 rg BT 537.34 633.60 Td (one ) Tj ET Q q 0 0 0 rg BT 554.19 633.60 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 621.60 Td (more ) Tj ET Q q 0 0 0 rg BT 109.53 621.60 Td (seats ) Tj ET Q q 0 0 0 rg BT 132.44 621.60 Td (on ) Tj ET Q q 0 0 0 rg BT 145.92 621.60 Td (the ) Tj ET Q q 0 0 0 rg BT 161.62 621.60 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 200.09 621.60 Td (company) Tj ET Q q 0 0 0 rg BT 239.53 621.60 Td (s ) Tj ET Q q 0 0 0 rg BT 246.90 621.60 Td (board ) Tj ET Q q 0 0 0 rg BT 273.14 621.60 Td (of ) Tj ET Q q 0 0 0 rg BT 284.95 621.60 Td (directors ) Tj ET Q q 0 0 0 rg BT 323.42 621.60 Td (but ) Tj ET Q q 0 0 0 rg BT 339.67 621.60 Td (do ) Tj ET Q q 0 0 0 rg BT 353.15 621.60 Td (not ) Tj ET Q q 0 0 0 rg BT 369.41 621.60 Td (control ) Tj ET Q q 0 0 0 rg BT 401.22 621.60 Td (the ) Tj ET Q q 0 0 0 rg BT 416.91 621.60 Td (company) Tj ET Q q 0 0 0 rg BT 452.92 621.60 Td (. ) Tj ET Q q 0 0 0 rg BT 458.90 621.60 Td (Investments ) Tj ET Q q 0 0 0 rg BT 510.70 621.60 Td (in ) Tj ET Q q 0 0 0 rg BT 521.96 621.60 Td (controlled ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 609.60 Td (af) Tj ET Q q 0 0 0 rg BT 93.09 609.60 Td (filiated ) Tj ET Q q 0 0 0 rg BT 123.99 609.60 Td (companies ) Tj ET Q q 0 0 0 rg BT 169.33 609.60 Td (consist ) Tj ET Q q 0 0 0 rg BT 199.68 609.60 Td (of ) Tj ET Q q 0 0 0 rg BT 210.59 609.60 Td (investments ) Tj ET Q q 0 0 0 rg BT 260.94 609.60 Td (in ) Tj ET Q q 0 0 0 rg BT 271.29 609.60 Td (which ) Tj ET Q q 0 0 0 rg BT 298.31 609.60 Td (we ) Tj ET Q q 0 0 0 rg BT 312.55 609.60 Td (own ) Tj ET Q q 0 0 0 rg BT 332.35 609.60 Td (25 ) Tj ET Q q 0 0 0 rg BT 344.92 609.60 Td (percent ) Tj ET Q q 0 0 0 rg BT 376.92 609.60 Td (or ) Tj ET Q q 0 0 0 rg BT 387.83 609.60 Td (more ) Tj ET Q q 0 0 0 rg BT 410.96 609.60 Td (of ) Tj ET Q q 0 0 0 rg BT 421.86 609.60 Td (the ) Tj ET Q q 0 0 0 rg BT 436.66 609.60 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 485.90 609.60 Td (voting ) Tj ET Q q 0 0 0 rg BT 514.03 609.60 Td (rights ) Tj ET Q q 0 0 0 rg BT 539.39 609.60 Td (of ) Tj ET Q q 0 0 0 rg BT 550.30 609.60 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 597.60 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 122.37 597.60 Td (company ) Tj ET Q q 0 0 0 rg BT 160.89 597.60 Td (or ) Tj ET Q q 0 0 0 rg BT 171.10 597.60 Td (otherwise ) Tj ET Q q 0 0 0 rg BT 211.84 597.60 Td (control ) Tj ET Q q 0 0 0 rg BT 242.04 597.60 Td (the ) Tj ET Q q 0 0 0 rg BT 256.13 597.60 Td (company) Tj ET Q q 0 0 0 rg BT 292.13 597.60 Td (, ) Tj ET Q q 0 0 0 rg BT 296.51 597.60 Td (including ) Tj ET Q q 0 0 0 rg BT 336.15 597.60 Td (control ) Tj ET Q q 0 0 0 rg BT 366.35 597.60 Td (of ) Tj ET Q q 0 0 0 rg BT 376.55 597.60 Td (a ) Tj ET Q q 0 0 0 rg BT 382.86 597.60 Td (majority ) Tj ET Q q 0 0 0 rg BT 418.61 597.60 Td (of ) Tj ET Q q 0 0 0 rg BT 428.81 597.60 Td (the ) Tj ET Q q 0 0 0 rg BT 442.90 597.60 Td (seats ) Tj ET Q q 0 0 0 rg BT 464.21 597.60 Td (on ) Tj ET Q q 0 0 0 rg BT 476.08 597.60 Td (the ) Tj ET Q q 0 0 0 rg BT 490.17 597.60 Td (board ) Tj ET Q q 0 0 0 rg BT 514.81 597.60 Td (of ) Tj ET Q q 0 0 0 rg BT 525.02 597.60 Td (directors, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 585.60 Td (or ) Tj ET Q q 0 0 0 rg BT 96.38 585.60 Td (more ) Tj ET Q q 0 0 0 rg BT 119.47 585.60 Td (than ) Tj ET Q q 0 0 0 rg BT 139.23 585.60 Td (25 ) Tj ET Q q 0 0 0 rg BT 151.78 585.60 Td (percent ) Tj ET Q q 0 0 0 rg BT 183.74 585.60 Td (of ) Tj ET Q q 0 0 0 rg BT 194.62 585.60 Td (the ) Tj ET Q q 0 0 0 rg BT 209.38 585.60 Td (seats ) Tj ET Q q 0 0 0 rg BT 231.37 585.60 Td (on ) Tj ET Q q 0 0 0 rg BT 243.91 585.60 Td (the ) Tj ET Q q 0 0 0 rg BT 258.67 585.60 Td (board ) Tj ET Q q 0 0 0 rg BT 283.99 585.60 Td (of ) Tj ET Q q 0 0 0 rg BT 294.86 585.60 Td (directors, ) Tj ET Q q 0 0 0 rg BT 334.89 585.60 Td (with ) Tj ET Q q 0 0 0 rg BT 355.22 585.60 Td (no ) Tj ET Q q 0 0 0 rg BT 367.76 585.60 Td (other ) Tj ET Q q 0 0 0 rg BT 390.86 585.60 Td (entity ) Tj ET Q q 0 0 0 rg BT 416.17 585.60 Td (or ) Tj ET Q q 0 0 0 rg BT 427.05 585.60 Td (person ) Tj ET Q q 0 0 0 rg BT 456.26 585.60 Td (in ) Tj ET Q q 0 0 0 rg BT 466.58 585.60 Td (control ) Tj ET Q q 0 0 0 rg BT 497.45 585.60 Td (of ) Tj ET Q q 0 0 0 rg BT 508.33 585.60 Td (more ) Tj ET Q q 0 0 0 rg BT 531.42 585.60 Td (director ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 573.60 Td (seats ) Tj ET Q q 0 0 0 rg BT 107.44 573.60 Td (than ) Tj ET Q q 0 0 0 rg BT 127.16 573.60 Td (us. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 549.60 Td (\(3\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 549.60 Td (W) Tj ET Q q 0 0 0 rg BT 94.14 549.60 Td (e ) Tj ET Q q 0 0 0 rg BT 102.00 549.60 Td (are ) Tj ET Q q 0 0 0 rg BT 117.64 549.60 Td (subject ) Tj ET Q q 0 0 0 rg BT 149.39 549.60 Td (to ) Tj ET Q q 0 0 0 rg BT 160.60 549.60 Td (legal ) Tj ET Q q 0 0 0 rg BT 183.46 549.60 Td (restrictions ) Tj ET Q q 0 0 0 rg BT 231.32 549.60 Td (on ) Tj ET Q q 0 0 0 rg BT 244.75 549.60 Td (the ) Tj ET Q q 0 0 0 rg BT 260.39 549.60 Td (sale ) Tj ET Q q 0 0 0 rg BT 279.37 549.60 Td (of ) Tj ET Q q 0 0 0 rg BT 291.13 549.60 Td (our ) Tj ET Q q 0 0 0 rg BT 307.88 549.60 Td (investment\(s\) ) Tj ET Q q 0 0 0 rg BT 365.74 549.60 Td (in ) Tj ET Q q 0 0 0 rg BT 376.95 549.60 Td (this ) Tj ET Q q 0 0 0 rg BT 394.83 549.60 Td (company) Tj ET Q q 0 0 0 rg BT 430.83 549.60 Td (. ) Tj ET Q q 0 0 0 rg BT 436.76 549.60 Td ( ) Tj ET Q q 0 0 0 rg BT 439.94 549.60 Td (The ) Tj ET Q q 0 0 0 rg BT 458.91 549.60 Td (total ) Tj ET Q q 0 0 0 rg BT 480.12 549.60 Td (amount ) Tj ET Q q 0 0 0 rg BT 513.54 549.60 Td (of ) Tj ET Q q 0 0 0 rg BT 525.30 549.60 Td (restricted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 537.60 Td (securities ) Tj ET Q q 0 0 0 rg BT 125.76 537.60 Td (held ) Tj ET Q q 0 0 0 rg BT 145.48 537.60 Td (is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.65 537.60 Td ($50,172,693) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.65 537.60 Td (, ) Tj ET Q q 0 0 0 rg BT 209.65 537.60 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 220.48 537.60 Td (61.2 ) Tj ET Q q 0 0 0 rg BT 240.48 537.60 Td (percent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.90 537.60 Td ( ) Tj ET Q q 0 0 0 rg BT 272.40 537.60 Td (of ) Tj ET Q q 0 0 0 rg BT 283.23 537.60 Td (net ) Tj ET Q q 0 0 0 rg BT 297.95 537.60 Td (assets.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 513.60 Td (\(4\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 513.60 Td (Represents ) Tj ET Q q 0 0 0 rg BT 131.94 513.60 Td (a ) Tj ET Q q 0 0 0 rg BT 138.93 513.60 Td (non-income ) Tj ET Q q 0 0 0 rg BT 189.25 513.60 Td (producing ) Tj ET Q q 0 0 0 rg BT 232.36 513.60 Td (investment. ) Tj ET Q q 0 0 0 rg BT 281.30 513.60 Td ( ) Tj ET Q q 0 0 0 rg BT 283.86 513.60 Td (Investments ) Tj ET Q q 0 0 0 rg BT 334.74 513.60 Td (that ) Tj ET Q q 0 0 0 rg BT 352.30 513.60 Td (have ) Tj ET Q q 0 0 0 rg BT 373.73 513.60 Td (not ) Tj ET Q q 0 0 0 rg BT 389.07 513.60 Td (paid ) Tj ET Q q 0 0 0 rg BT 408.84 513.60 Td (dividends ) Tj ET Q q 0 0 0 rg BT 450.29 513.60 Td (or ) Tj ET Q q 0 0 0 rg BT 461.18 513.60 Td (interest ) Tj ET Q q 0 0 0 rg BT 493.17 513.60 Td (within ) Tj ET Q q 0 0 0 rg BT 521.29 513.60 Td (the ) Tj ET Q q 0 0 0 rg BT 536.06 513.60 Td (last ) Tj ET Q q 0 0 0 rg BT 552.51 513.60 Td (12 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 501.60 Td (months ) Tj ET Q q 0 0 0 rg BT 117.45 501.60 Td (are ) Tj ET Q q 0 0 0 rg BT 132.16 501.60 Td (considered ) Tj ET Q q 0 0 0 rg BT 177.97 501.60 Td (to ) Tj ET Q q 0 0 0 rg BT 188.25 501.60 Td (be ) Tj ET Q q 0 0 0 rg BT 200.19 501.60 Td (non-income ) Tj ET Q q 0 0 0 rg BT 250.45 501.60 Td (producing.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 477.60 Td (\(5\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 477.60 Td (W) Tj ET Q q 0 0 0 rg BT 94.14 477.60 Td (e ) Tj ET Q q 0 0 0 rg BT 102.23 477.60 Td (received ) Tj ET Q q 0 0 0 rg BT 139.74 477.60 Td (LLC ) Tj ET Q q 0 0 0 rg BT 162.27 477.60 Td (Interests ) Tj ET Q q 0 0 0 rg BT 199.80 477.60 Td (of ) Tj ET Q q 0 0 0 rg BT 211.78 477.60 Td (1.25 ) Tj ET Q q 0 0 0 rg BT 232.93 477.60 Td (percent ) Tj ET Q q 0 0 0 rg BT 266.00 477.60 Td (in ) Tj ET Q q 0 0 0 rg BT 276.62 477.60 Td (AutoT) Tj ET Q q 0 0 0 rg BT 302.03 477.60 Td (ech ) Tj ET Q q 0 0 0 rg BT 319.29 477.60 Td (V) Tj ET Q q 0 0 0 rg BT 325.41 477.60 Td (entures ) Tj ET Q q 0 0 0 rg BT 357.93 477.60 Td (Management ) Tj ET Q q 0 0 0 rg BT 413.78 477.60 Td (I, ) Tj ET Q q 0 0 0 rg BT 423.26 477.60 Td (LLC ) Tj ET Q q 0 0 0 rg BT 445.80 477.60 Td (\("AutoT) Tj ET Q q 0 0 0 rg BT 478.62 477.60 Td (ech"\) ) Tj ET Q q 0 0 0 rg BT 503.56 477.60 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 541.64 477.60 Td (to ) Tj ET Q q 0 0 0 rg BT 553.07 477.60 Td (an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 465.60 Td (Administrative ) Tj ET Q q 0 0 0 rg BT 146.77 465.60 Td (Services ) Tj ET Q q 0 0 0 rg BT 181.64 465.60 Td (Agreement ) Tj ET Q q 0 0 0 rg BT 227.35 465.60 Td (between ) Tj ET Q q 0 0 0 rg BT 261.94 465.60 Td (us ) Tj ET Q q 0 0 0 rg BT 272.11 465.60 Td (and ) Tj ET Q q 0 0 0 rg BT 287.55 465.60 Td (AutoT) Tj ET Q q 0 0 0 rg BT 312.96 465.60 Td (ech ) Tj ET Q q 0 0 0 rg BT 328.11 465.60 Td (and ) Tj ET Q q 0 0 0 rg BT 343.83 465.60 Td (due ) Tj ET Q q 0 0 0 rg BT 359.55 465.60 Td (to ) Tj ET Q q 0 0 0 rg BT 368.61 465.60 Td (us ) Tj ET Q q 0 0 0 rg BT 378.78 465.60 Td (following ) Tj ET Q q 0 0 0 rg BT 418.94 465.60 Td (the ) Tj ET Q q 0 0 0 rg BT 432.44 465.60 Td (termination ) Tj ET Q q 0 0 0 rg BT 479.82 465.60 Td (of ) Tj ET Q q 0 0 0 rg BT 489.43 465.60 Td (a ) Tj ET Q q 0 0 0 rg BT 495.15 465.60 Td (former ) Tj ET Q q 0 0 0 rg BT 523.63 465.60 Td (employee ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 453.60 Td (of ) Tj ET Q q 0 0 0 rg BT 96.71 453.60 Td (the ) Tj ET Q q 0 0 0 rg BT 111.81 453.60 Td (Company) Tj ET Q q 0 0 0 rg BT 150.04 453.60 Td (. ) Tj ET Q q 0 0 0 rg BT 155.42 453.60 Td ( ) Tj ET Q q 0 0 0 rg BT 158.10 453.60 Td (These ) Tj ET Q q 0 0 0 rg BT 184.85 453.60 Td (LLC ) Tj ET Q q 0 0 0 rg BT 206.62 453.60 Td (Interests ) Tj ET Q q 0 0 0 rg BT 243.38 453.60 Td (were ) Tj ET Q q 0 0 0 rg BT 265.68 453.60 Td (separate ) Tj ET Q q 0 0 0 rg BT 301.32 453.60 Td (from ) Tj ET Q q 0 0 0 rg BT 323.64 453.60 Td (the ) Tj ET Q q 0 0 0 rg BT 338.73 453.60 Td (compensation ) Tj ET Q q 0 0 0 rg BT 397.15 453.60 Td (received ) Tj ET Q q 0 0 0 rg BT 433.90 453.60 Td (for ) Tj ET Q q 0 0 0 rg BT 448.44 453.60 Td (providing ) Tj ET Q q 0 0 0 rg BT 490.20 453.60 Td (the ) Tj ET Q q 0 0 0 rg BT 505.30 453.60 Td (administrative ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 441.60 Td (services ) Tj ET Q q 0 0 0 rg BT 119.88 441.60 Td (under ) Tj ET Q q 0 0 0 rg BT 144.82 441.60 Td (the ) Tj ET Q q 0 0 0 rg BT 159.22 441.60 Td (agreement ) Tj ET Q q 0 0 0 rg BT 203.03 441.60 Td (that ) Tj ET Q q 0 0 0 rg BT 220.20 441.60 Td (were ) Tj ET Q q 0 0 0 rg BT 241.80 441.60 Td (paid ) Tj ET Q q 0 0 0 rg BT 261.19 441.60 Td (in ) Tj ET Q q 0 0 0 rg BT 271.15 441.60 Td (cash. ) Tj ET Q q 0 0 0 rg BT 293.59 441.60 Td ( ) Tj ET Q q 0 0 0 rg BT 295.61 441.60 Td (W) Tj ET Q q 0 0 0 rg BT 304.24 441.60 Td (e ) Tj ET Q q 0 0 0 rg BT 310.86 441.60 Td (are ) Tj ET Q q 0 0 0 rg BT 325.24 441.60 Td (not ) Tj ET Q q 0 0 0 rg BT 340.19 441.60 Td (investors ) Tj ET Q q 0 0 0 rg BT 378.47 441.60 Td (in ) Tj ET Q q 0 0 0 rg BT 387.95 441.60 Td (AutoT) Tj ET Q q 0 0 0 rg BT 413.36 441.60 Td (ech. ) Tj ET Q q 0 0 0 rg BT 431.91 441.60 Td ( ) Tj ET Q q 0 0 0 rg BT 433.92 441.60 Td (The ) Tj ET Q q 0 0 0 rg BT 451.65 441.60 Td (LLC ) Tj ET Q q 0 0 0 rg BT 472.71 441.60 Td (interests ) Tj ET Q q 0 0 0 rg BT 508.21 441.60 Td (have ) Tj ET Q q 0 0 0 rg BT 529.26 441.60 Td (a ) Tj ET Q q 0 0 0 rg BT 535.87 441.60 Td (capital ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 429.60 Td (percentage ) Tj ET Q q 0 0 0 rg BT 131.30 429.60 Td (of ) Tj ET Q q 0 0 0 rg BT 142.13 429.60 Td (0 ) Tj ET Q q 0 0 0 rg BT 149.63 429.60 Td (percent. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 405.60 Td (\(6\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 405.60 Td (D-W) Tj ET Q q 0 0 0 rg BT 104.69 405.60 Td (ave ) Tj ET Q q 0 0 0 rg BT 120.24 405.60 Td (Systems, ) Tj ET Q q 0 0 0 rg BT 157.76 405.60 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 177.21 405.60 Td (is ) Tj ET Q q 0 0 0 rg BT 185.55 405.60 Td (located ) Tj ET Q q 0 0 0 rg BT 216.10 405.60 Td (and ) Tj ET Q q 0 0 0 rg BT 232.22 405.60 Td (is ) Tj ET Q q 0 0 0 rg BT 240.57 405.60 Td (doing ) Tj ET Q q 0 0 0 rg BT 265.02 405.60 Td (business ) Tj ET Q q 0 0 0 rg BT 300.59 405.60 Td (primarily ) Tj ET Q q 0 0 0 rg BT 339.48 405.60 Td (in ) Tj ET Q q 0 0 0 rg BT 348.94 405.60 Td (Canada. ) Tj ET Q q 0 0 0 rg BT 382.98 405.60 Td (W) Tj ET Q q 0 0 0 rg BT 391.61 405.60 Td (e ) Tj ET Q q 0 0 0 rg BT 397.73 405.60 Td (invested ) Tj ET Q q 0 0 0 rg BT 432.73 405.60 Td (in ) Tj ET Q q 0 0 0 rg BT 442.19 405.60 Td (D-W) Tj ET Q q 0 0 0 rg BT 461.38 405.60 Td (ave ) Tj ET Q q 0 0 0 rg BT 476.93 405.60 Td (Systems, ) Tj ET Q q 0 0 0 rg BT 514.45 405.60 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 531.39 405.60 Td (through ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 393.60 Td (Parallel ) Tj ET Q q 0 0 0 rg BT 117.71 393.60 Td (Universes, ) Tj ET Q q 0 0 0 rg BT 161.87 393.60 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 181.30 393.60 Td (a ) Tj ET Q q 0 0 0 rg BT 187.41 393.60 Td (Delaware ) Tj ET Q q 0 0 0 rg BT 227.38 393.60 Td (company) Tj ET Q q 0 0 0 rg BT 263.39 393.60 Td (. ) Tj ET Q q 0 0 0 rg BT 267.56 393.60 Td (Our ) Tj ET Q q 0 0 0 rg BT 284.77 393.60 Td (investment ) Tj ET Q q 0 0 0 rg BT 330.32 393.60 Td (is ) Tj ET Q q 0 0 0 rg BT 338.66 393.60 Td (denominated ) Tj ET Q q 0 0 0 rg BT 391.98 393.60 Td (in ) Tj ET Q q 0 0 0 rg BT 401.43 393.60 Td (Canadian ) Tj ET Q q 0 0 0 rg BT 440.86 393.60 Td (dollars ) Tj ET Q q 0 0 0 rg BT 469.74 393.60 Td (and ) Tj ET Q q 0 0 0 rg BT 485.85 393.60 Td (is ) Tj ET Q q 0 0 0 rg BT 494.18 393.60 Td (subject ) Tj ET Q q 0 0 0 rg BT 524.18 393.60 Td (to ) Tj ET Q q 0 0 0 rg BT 533.62 393.60 Td (foreign ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 381.60 Td (currency ) Tj ET Q q 0 0 0 rg BT 121.94 381.60 Td (translation. ) Tj ET Q q 0 0 0 rg BT 168.12 381.60 Td (See ) Tj ET Q q 0 0 0 rg BT 184.02 381.60 Td ("Note ) Tj ET Q q 0 0 0 rg BT 209.01 381.60 Td (2. ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 217.97802734375 380.2669921875 m 392.9384765625 380.2669921875 l s q 0 0 0 rg BT 217.98 381.60 Td (Summary ) Tj ET Q q 0 0 0 rg BT 258.33 381.60 Td (of ) Tj ET Q q 0 0 0 rg BT 268.13 381.60 Td (Significant ) Tj ET Q q 0 0 0 rg BT 313.15 381.60 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 361.27 381.60 Td (Policies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.94 381.60 Td (." ) Tj ET Q q 0 0 0 rg BT 400.88 381.60 Td (W) Tj ET Q q 0 0 0 rg BT 409.52 381.60 Td (e ) Tj ET Q q 0 0 0 rg BT 415.42 381.60 Td (may ) Tj ET Q q 0 0 0 rg BT 434.11 381.60 Td (also ) Tj ET Q q 0 0 0 rg BT 451.68 381.60 Td (be ) Tj ET Q q 0 0 0 rg BT 462.59 381.60 Td (subject ) Tj ET Q q 0 0 0 rg BT 492.38 381.60 Td (to ) Tj ET Q q 0 0 0 rg BT 501.62 381.60 Td (certain ) Tj ET Q q 0 0 0 rg BT 530.29 381.60 Td (taxation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 369.60 Td (on ) Tj ET Q q 0 0 0 rg BT 98.01 369.60 Td (this ) Tj ET Q q 0 0 0 rg BT 114.96 369.60 Td (investment ) Tj ET Q q 0 0 0 rg BT 161.35 369.60 Td (if ) Tj ET Q q 0 0 0 rg BT 169.97 369.60 Td (we ) Tj ET Q q 0 0 0 rg BT 184.14 369.60 Td (choose ) Tj ET Q q 0 0 0 rg BT 214.41 369.60 Td (to ) Tj ET Q q 0 0 0 rg BT 224.70 369.60 Td (sell ) Tj ET Q q 0 0 0 rg BT 241.09 369.60 Td (our ) Tj ET Q q 0 0 0 rg BT 256.93 369.60 Td (shares ) Tj ET Q q 0 0 0 rg BT 284.43 369.60 Td (prior ) Tj ET Q q 0 0 0 rg BT 306.37 369.60 Td (to ) Tj ET Q q 0 0 0 rg BT 316.66 369.60 Td (a ) Tj ET Q q 0 0 0 rg BT 323.60 369.60 Td (sale ) Tj ET Q q 0 0 0 rg BT 341.66 369.60 Td (of ) Tj ET Q q 0 0 0 rg BT 352.49 369.60 Td (the ) Tj ET Q q 0 0 0 rg BT 367.22 369.60 Td (company ) Tj ET Q q 0 0 0 rg BT 406.38 369.60 Td (or ) Tj ET Q q 0 0 0 rg BT 417.22 369.60 Td (an ) Tj ET Q q 0 0 0 rg BT 429.16 369.60 Td (initial ) Tj ET Q q 0 0 0 rg BT 455.00 369.60 Td (public ) Tj ET Q q 0 0 0 rg BT 482.50 369.60 Td (of) Tj ET Q q 0 0 0 rg BT 490.65 369.60 Td (fering. ) Tj ET Q q 0 0 0 rg BT 519.54 369.60 Td ( ) Tj ET Q q 0 0 0 rg BT 522.05 369.60 Td (See ) Tj ET Q q 0 0 0 rg BT 538.99 369.60 Td ("Note ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 357.60 Td (9. ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 95.5 356.2669921875 m 150.9833984375 356.2669921875 l s q 0 0 0 rg BT 95.50 357.60 Td (Income ) Tj ET Q q 0 0 0 rg BT 127.80 357.60 Td (T) Tj ET Q q 0 0 0 rg BT 133.21 357.60 Td (axes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.98 357.60 Td (.") Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 333.60 Td (\(7\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 333.60 Td (In ) Tj ET Q q 0 0 0 rg BT 96.88 333.60 Td (January ) Tj ET Q q 0 0 0 rg BT 131.03 333.60 Td (2019, ) Tj ET Q q 0 0 0 rg BT 156.58 333.60 Td (we ) Tj ET Q q 0 0 0 rg BT 171.29 333.60 Td (agreed ) Tj ET Q q 0 0 0 rg BT 200.98 333.60 Td (to ) Tj ET Q q 0 0 0 rg BT 211.81 333.60 Td (sell ) Tj ET Q q 0 0 0 rg BT 228.74 333.60 Td (our ) Tj ET Q q 0 0 0 rg BT 245.12 333.60 Td (security ) Tj ET Q q 0 0 0 rg BT 279.83 333.60 Td (of ) Tj ET Q q 0 0 0 rg BT 291.21 333.60 Td (Genome ) Tj ET Q q 0 0 0 rg BT 328.13 333.60 Td (Profiling, ) Tj ET Q q 0 0 0 rg BT 369.24 333.60 Td (LLC ) Tj ET Q q 0 0 0 rg BT 391.18 333.60 Td (to ) Tj ET Q q 0 0 0 rg BT 402.00 333.60 Td (an ) Tj ET Q q 0 0 0 rg BT 414.49 333.60 Td (undisclosed ) Tj ET Q q 0 0 0 rg BT 464.76 333.60 Td (buyer ) Tj ET Q q 0 0 0 rg BT 490.58 333.60 Td (for ) Tj ET Q q 0 0 0 rg BT 505.29 333.60 Td ($230,000 ) Tj ET Q q 0 0 0 rg BT 545.83 333.60 Td (plus ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 321.60 Td (accrued ) Tj ET Q q 0 0 0 rg BT 119.08 321.60 Td (interest ) Tj ET Q q 0 0 0 rg BT 151.02 321.60 Td (through ) Tj ET Q q 0 0 0 rg BT 184.63 321.60 Td (the ) Tj ET Q q 0 0 0 rg BT 199.34 321.60 Td (date ) Tj ET Q q 0 0 0 rg BT 218.50 321.60 Td (of ) Tj ET Q q 0 0 0 rg BT 229.33 321.60 Td (the ) Tj ET Q q 0 0 0 rg BT 244.04 321.60 Td (transaction, ) Tj ET Q q 0 0 0 rg BT 292.92 321.60 Td (January ) Tj ET Q q 0 0 0 rg BT 326.52 321.60 Td (31, ) Tj ET Q q 0 0 0 rg BT 341.52 321.60 Td (2019.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 297.60 Td (\(8\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 297.60 Td (See ) Tj ET Q q 0 0 0 rg BT 102.44 297.60 Td ("Note ) Tj ET Q q 0 0 0 rg BT 128.46 297.60 Td (10. ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 143.458984375 296.2669921875 m 276.779296875 296.2669921875 l s q 0 0 0 rg BT 143.46 297.60 Td (Commitments ) Tj ET Q q 0 0 0 rg BT 202.63 297.60 Td (and ) Tj ET Q q 0 0 0 rg BT 219.57 297.60 Td (Contingencies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.78 297.60 Td (" ) Tj ET Q q 0 0 0 rg BT 283.36 297.60 Td (of ) Tj ET Q q 0 0 0 rg BT 294.19 297.60 Td (the ) Tj ET Q q 0 0 0 rg BT 308.91 297.60 Td (Notes ) Tj ET Q q 0 0 0 rg BT 334.74 297.60 Td (to ) Tj ET Q q 0 0 0 rg BT 345.02 297.60 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 400.29 297.60 Td (Financial ) Tj ET Q q 0 0 0 rg BT 440.00 297.60 Td (Statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 273.60 Td (\(9\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 273.60 Td (The ) Tj ET Q q 0 0 0 rg BT 103.85 273.60 Td (identities ) Tj ET Q q 0 0 0 rg BT 143.32 273.60 Td (of ) Tj ET Q q 0 0 0 rg BT 154.45 273.60 Td (these ) Tj ET Q q 0 0 0 rg BT 177.80 273.60 Td (securities ) Tj ET Q q 0 0 0 rg BT 218.37 273.60 Td (have ) Tj ET Q q 0 0 0 rg BT 240.06 273.60 Td (been ) Tj ET Q q 0 0 0 rg BT 261.74 273.60 Td (concealed ) Tj ET Q q 0 0 0 rg BT 304.51 273.60 Td (to ) Tj ET Q q 0 0 0 rg BT 315.10 273.60 Td (protect ) Tj ET Q q 0 0 0 rg BT 345.67 273.60 Td (the ) Tj ET Q q 0 0 0 rg BT 360.69 273.60 Td (Company ) Tj ET Q q 0 0 0 rg BT 402.38 273.60 Td (while ) Tj ET Q q 0 0 0 rg BT 427.40 273.60 Td (it ) Tj ET Q q 0 0 0 rg BT 435.76 273.60 Td (completes ) Tj ET Q q 0 0 0 rg BT 479.11 273.60 Td (a ) Tj ET Q q 0 0 0 rg BT 486.35 273.60 Td (purchase ) Tj ET Q q 0 0 0 rg BT 524.70 273.60 Td (or ) Tj ET Q q 0 0 0 rg BT 535.83 273.60 Td (selling ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 261.60 Td (program ) Tj ET Q q 0 0 0 rg BT 121.88 261.60 Td (for ) Tj ET Q q 0 0 0 rg BT 136.04 261.60 Td (these ) Tj ET Q q 0 0 0 rg BT 159.08 261.60 Td (securities.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 237.60 Td (\(10\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 237.60 Td (Represents ) Tj ET Q q 0 0 0 rg BT 132.32 237.60 Td (a ) Tj ET Q q 0 0 0 rg BT 139.69 237.60 Td (non-operating ) Tj ET Q q 0 0 0 rg BT 198.73 237.60 Td (entity ) Tj ET Q q 0 0 0 rg BT 224.44 237.60 Td (that ) Tj ET Q q 0 0 0 rg BT 242.38 237.60 Td (exists ) Tj ET Q q 0 0 0 rg BT 268.09 237.60 Td (to ) Tj ET Q q 0 0 0 rg BT 278.81 237.60 Td (collect ) Tj ET Q q 0 0 0 rg BT 308.40 237.60 Td (future ) Tj ET Q q 0 0 0 rg BT 335.22 237.60 Td (payments ) Tj ET Q q 0 0 0 rg BT 376.48 237.60 Td (from ) Tj ET Q q 0 0 0 rg BT 398.86 237.60 Td (licenses ) Tj ET Q q 0 0 0 rg BT 433.45 237.60 Td (or ) Tj ET Q q 0 0 0 rg BT 444.72 237.60 Td (other ) Tj ET Q q 0 0 0 rg BT 468.21 237.60 Td (engagements, ) Tj ET Q q 0 0 0 rg BT 525.85 237.60 Td (monetize ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 225.60 Td (assets ) Tj ET Q q 0 0 0 rg BT 110.50 225.60 Td (for ) Tj ET Q q 0 0 0 rg BT 123.84 225.60 Td (future ) Tj ET Q q 0 0 0 rg BT 149.39 225.60 Td (distributions ) Tj ET Q q 0 0 0 rg BT 201.07 225.60 Td (to ) Tj ET Q q 0 0 0 rg BT 210.52 225.60 Td (investors ) Tj ET Q q 0 0 0 rg BT 248.30 225.60 Td (and ) Tj ET Q q 0 0 0 rg BT 264.41 225.60 Td (debt ) Tj ET Q q 0 0 0 rg BT 283.30 225.60 Td (holders, ) Tj ET Q q 0 0 0 rg BT 316.92 225.60 Td (or ) Tj ET Q q 0 0 0 rg BT 326.92 225.60 Td (is ) Tj ET Q q 0 0 0 rg BT 335.26 225.60 Td (in ) Tj ET Q q 0 0 0 rg BT 344.72 225.60 Td (the ) Tj ET Q q 0 0 0 rg BT 358.61 225.60 Td (process ) Tj ET Q q 0 0 0 rg BT 390.27 225.60 Td (of ) Tj ET Q q 0 0 0 rg BT 400.28 225.60 Td (shutting ) Tj ET Q q 0 0 0 rg BT 434.18 225.60 Td (down ) Tj ET Q q 0 0 0 rg BT 458.07 225.60 Td (and ) Tj ET Q q 0 0 0 rg BT 474.18 225.60 Td (distributing ) Tj ET Q q 0 0 0 rg BT 521.97 225.60 Td (remaining ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 213.60 Td (assets ) Tj ET Q q 0 0 0 rg BT 111.33 213.60 Td (according ) Tj ET Q q 0 0 0 rg BT 153.25 213.60 Td (to ) Tj ET Q q 0 0 0 rg BT 163.53 213.60 Td (a ) Tj ET Q q 0 0 0 rg BT 170.47 213.60 Td (liquidation ) Tj ET Q q 0 0 0 rg BT 216.30 213.60 Td (waterfall.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 189.60 Td (\(1) Tj ET Q q 0 0 0 rg BT 57.46 189.60 Td (1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 189.60 Td (Produced ) Tj ET Q q 0 0 0 rg BT 125.59 189.60 Td (W) Tj ET Q q 0 0 0 rg BT 134.23 189.60 Td (ater ) Tj ET Q q 0 0 0 rg BT 151.16 189.60 Td (Absorbents, ) Tj ET Q q 0 0 0 rg BT 201.71 189.60 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 221.98 189.60 Td (also ) Tj ET Q q 0 0 0 rg BT 240.59 189.60 Td (does ) Tj ET Q q 0 0 0 rg BT 261.42 189.60 Td (business ) Tj ET Q q 0 0 0 rg BT 297.81 189.60 Td (as ) Tj ET Q q 0 0 0 rg BT 308.64 189.60 Td (ProSep, ) Tj ET Q q 0 0 0 rg BT 342.53 189.60 Td (Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 165.60 Td (\(12\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 165.60 Td (The ) Tj ET Q q 0 0 0 rg BT 103.58 165.60 Td (Company ) Tj ET Q q 0 0 0 rg BT 145.00 165.60 Td (is ) Tj ET Q q 0 0 0 rg BT 154.20 165.60 Td (the ) Tj ET Q q 0 0 0 rg BT 168.95 165.60 Td (Investment ) Tj ET Q q 0 0 0 rg BT 215.92 165.60 Td (Manager ) Tj ET Q q 0 0 0 rg BT 253.99 165.60 Td (and ) Tj ET Q q 0 0 0 rg BT 270.96 165.60 Td (Managing ) Tj ET Q q 0 0 0 rg BT 314.04 165.60 Td (Member ) Tj ET Q q 0 0 0 rg BT 350.45 165.60 Td (of ) Tj ET Q q 0 0 0 rg BT 361.32 165.60 Td (180.2 ) Tj ET Q q 0 0 0 rg BT 386.35 165.60 Td (SPV) Tj ET Q q 0 0 0 rg BT 404.51 165.60 Td ( ) Tj ET Q q 0 0 0 rg BT 407.05 165.60 Td (Series ) Tj ET Q q 0 0 0 rg BT 434.02 165.60 Td (- ) Tj ET Q q 0 0 0 rg BT 439.88 165.60 Td (a ) Tj ET Q q 0 0 0 rg BT 446.85 165.60 Td (Series ) Tj ET Q q 0 0 0 rg BT 473.82 165.60 Td (of ) Tj ET Q q 0 0 0 rg BT 484.69 165.60 Td (180 ) Tj ET Q q 0 0 0 rg BT 502.22 165.60 Td (Degree ) Tj ET Q q 0 0 0 rg BT 533.62 165.60 Td (Capital ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 153.60 Td (Management, ) Tj ET Q q 0 0 0 rg BT 142.26 153.60 Td (LLC ) Tj ET Q q 0 0 0 rg BT 163.20 153.60 Td (that ) Tj ET Q q 0 0 0 rg BT 180.25 153.60 Td (owns ) Tj ET Q q 0 0 0 rg BT 203.42 153.60 Td (1,241,400 ) Tj ET Q q 0 0 0 rg BT 245.48 153.60 Td (shares, ) Tj ET Q q 0 0 0 rg BT 275.02 153.60 Td (or ) Tj ET Q q 0 0 0 rg BT 285.41 153.60 Td (3.2 ) Tj ET Q q 0 0 0 rg BT 299.96 153.60 Td (percent ) Tj ET Q q 0 0 0 rg BT 331.44 153.60 Td (of ) Tj ET Q q 0 0 0 rg BT 341.83 153.60 Td (the ) Tj ET Q q 0 0 0 rg BT 356.10 153.60 Td (voting ) Tj ET Q q 0 0 0 rg BT 383.71 153.60 Td (securities, ) Tj ET Q q 0 0 0 rg BT 426.03 153.60 Td (of ) Tj ET Q q 0 0 0 rg BT 436.42 153.60 Td (Synacor) Tj ET Q q 0 0 0 rg BT 468.79 153.60 Td (, ) Tj ET Q q 0 0 0 rg BT 473.34 153.60 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 490.67 153.60 Td ( ) Tj ET Q q 0 0 0 rg BT 492.72 153.60 Td (\("SYNC"\). ) Tj ET Q q 0 0 0 rg BT 538.63 153.60 Td (When ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 141.60 Td (combined ) Tj ET Q q 0 0 0 rg BT 128.10 141.60 Td (with ) Tj ET Q q 0 0 0 rg BT 149.05 141.60 Td (the ) Tj ET Q q 0 0 0 rg BT 164.44 141.60 Td (Company's ) Tj ET Q q 0 0 0 rg BT 212.19 141.60 Td (ownership ) Tj ET Q q 0 0 0 rg BT 257.02 141.60 Td (of ) Tj ET Q q 0 0 0 rg BT 268.52 141.60 Td (4.1 ) Tj ET Q q 0 0 0 rg BT 284.19 141.60 Td (percent ) Tj ET Q q 0 0 0 rg BT 316.79 141.60 Td (of ) Tj ET Q q 0 0 0 rg BT 328.29 141.60 Td (the ) Tj ET Q q 0 0 0 rg BT 343.67 141.60 Td (voting ) Tj ET Q q 0 0 0 rg BT 372.40 141.60 Td (securities ) Tj ET Q q 0 0 0 rg BT 413.33 141.60 Td (of ) Tj ET Q q 0 0 0 rg BT 424.84 141.60 Td (SYNC, ) Tj ET Q q 0 0 0 rg BT 457.18 141.60 Td (the ) Tj ET Q q 0 0 0 rg BT 472.57 141.60 Td (Company ) Tj ET Q q 0 0 0 rg BT 514.63 141.60 Td (controls ) Tj ET Q q 0 0 0 rg BT 550.01 141.60 Td (7.3 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 129.60 Td (percent ) Tj ET Q q 0 0 0 rg BT 118.00 129.60 Td (of ) Tj ET Q q 0 0 0 rg BT 129.40 129.60 Td (the ) Tj ET Q q 0 0 0 rg BT 144.69 129.60 Td (voting ) Tj ET Q q 0 0 0 rg BT 173.32 129.60 Td (securities ) Tj ET Q q 0 0 0 rg BT 214.16 129.60 Td (of ) Tj ET Q q 0 0 0 rg BT 225.56 129.60 Td (SYNC, ) Tj ET Q q 0 0 0 rg BT 257.81 129.60 Td (based ) Tj ET Q q 0 0 0 rg BT 283.65 129.60 Td (on ) Tj ET Q q 0 0 0 rg BT 296.73 129.60 Td (39,000,303 ) Tj ET Q q 0 0 0 rg BT 344.80 129.60 Td (shares ) Tj ET Q q 0 0 0 rg BT 372.87 129.60 Td (reported ) Tj ET Q q 0 0 0 rg BT 409.25 129.60 Td (in ) Tj ET Q q 0 0 0 rg BT 420.11 129.60 Td (SYNC's ) Tj ET Q q 0 0 0 rg BT 455.55 129.60 Td (most ) Tj ET Q q 0 0 0 rg BT 478.07 129.60 Td (recent ) Tj ET Q q 0 0 0 rg BT 505.57 129.60 Td (Securities ) Tj ET Q q 0 0 0 rg BT 548.08 129.60 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 117.60 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 127.42 117.60 Td (Commission ) Tj ET Q q 0 0 0 rg BT 180.49 117.60 Td (\("SEC"\) ) Tj ET Q q 0 0 0 rg BT 216.15 117.60 Td (filing, ) Tj ET Q q 0 0 0 rg BT 242.82 117.60 Td (Form ) Tj ET Q q 0 0 0 rg BT 266.99 117.60 Td (10-Q, ) Tj ET Q q 0 0 0 rg BT 292.54 117.60 Td (as ) Tj ET Q q 0 0 0 rg BT 303.37 117.60 Td (of ) Tj ET Q q 0 0 0 rg BT 314.20 117.60 Td (September ) Tj ET Q q 0 0 0 rg BT 359.46 117.60 Td (30, ) Tj ET Q q 0 0 0 rg BT 374.46 117.60 Td (2018.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 93.60 Td (\(13\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 93.60 Td (The ) Tj ET Q q 0 0 0 rg BT 104.61 93.60 Td (stock ) Tj ET Q q 0 0 0 rg BT 129.28 93.60 Td (options ) Tj ET Q q 0 0 0 rg BT 162.29 93.60 Td (and ) Tj ET Q q 0 0 0 rg BT 180.29 93.60 Td (restricted ) Tj ET Q q 0 0 0 rg BT 221.05 93.60 Td (stock ) Tj ET Q q 0 0 0 rg BT 245.72 93.60 Td (units ) Tj ET Q q 0 0 0 rg BT 268.73 93.60 Td (were ) Tj ET Q q 0 0 0 rg BT 291.73 93.60 Td (issued ) Tj ET Q q 0 0 0 rg BT 320.29 93.60 Td (to ) Tj ET Q q 0 0 0 rg BT 331.63 93.60 Td (Kevin ) Tj ET Q q 0 0 0 rg BT 359.63 93.60 Td (Rendino ) Tj ET Q q 0 0 0 rg BT 397.08 93.60 Td (for ) Tj ET Q q 0 0 0 rg BT 412.30 93.60 Td (service ) Tj ET Q q 0 0 0 rg BT 444.18 93.60 Td (on ) Tj ET Q q 0 0 0 rg BT 457.74 93.60 Td (the ) Tj ET Q q 0 0 0 rg BT 473.52 93.60 Td (Board ) Tj ET Q q 0 0 0 rg BT 501.52 93.60 Td (of ) Tj ET Q q 0 0 0 rg BT 513.41 93.60 Td (Directors ) Tj ET Q q 0 0 0 rg BT 554.18 93.60 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 81.60 Td (TheStreet, ) Tj ET Q q 0 0 0 rg BT 129.40 81.60 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 147.19 81.60 Td ( ) Tj ET Q q 0 0 0 rg BT 149.72 81.60 Td (Mr) Tj ET Q q 0 0 0 rg BT 161.39 81.60 Td (. ) Tj ET Q q 0 0 0 rg BT 166.42 81.60 Td (Rendino ) Tj ET Q q 0 0 0 rg BT 202.83 81.60 Td (entered ) Tj ET Q q 0 0 0 rg BT 234.78 81.60 Td (into ) Tj ET Q q 0 0 0 rg BT 252.87 81.60 Td (an ) Tj ET Q q 0 0 0 rg BT 264.83 81.60 Td (assignment ) Tj ET Q q 0 0 0 rg BT 312.35 81.60 Td (and ) Tj ET Q q 0 0 0 rg BT 329.32 81.60 Td (assumption ) Tj ET Q q 0 0 0 rg BT 377.40 81.60 Td (agreement ) Tj ET Q q 0 0 0 rg BT 421.57 81.60 Td (with ) Tj ET Q q 0 0 0 rg BT 441.87 81.60 Td (the ) Tj ET Q q 0 0 0 rg BT 456.62 81.60 Td (Company ) Tj ET Q q 0 0 0 rg BT 498.03 81.60 Td (that ) Tj ET Q q 0 0 0 rg BT 515.55 81.60 Td (transfers ) Tj ET Q q 0 0 0 rg BT 552.51 81.60 Td (all ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 69.60 Td (beneficial ) Tj ET Q q 0 0 0 rg BT 127.42 69.60 Td (and ) Tj ET Q q 0 0 0 rg BT 144.36 69.60 Td (voting ) Tj ET Q q 0 0 0 rg BT 172.41 69.60 Td (interest ) Tj ET Q q 0 0 0 rg BT 204.35 69.60 Td (to ) Tj ET Q q 0 0 0 rg BT 214.63 69.60 Td (the ) Tj ET Q q 0 0 0 rg BT 229.34 69.60 Td (Company) Tj ET Q q 0 0 0 rg BT 267.58 69.60 Td (. ) Tj ET Q endstream endobj 45 0 obj <> endobj 46 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 236.80 760.75 Td (180 DEGREE CAPIT) Tj ET Q q 0 0 0 rg BT 329.40 760.75 Td (AL) Tj ET Q q 0 0 0 rg BT 342.74 760.75 Td ( CORP) Tj ET Q q 0 0 0 rg BT 372.65 760.75 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 100.60 748.75 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 136.82 748.75 Td (T) Tj ET Q q 0 0 0 rg BT 143.31 748.75 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 213.41 748.75 Td (TED SCHEDULE OF) Tj ET Q q 0 0 0 rg BT 307.50 748.75 Td ( INVESTMENTS ) Tj ET Q q 0 0 0 rg BT 384.75 748.75 Td (AS OF) Tj ET Q q 0 0 0 rg BT 413.55 748.75 Td ( DECEMBER 31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.30 38.10 Td (The accompanying notes are an integral part of these consolidated financial statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 26.10 Td (22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 717.60 Td (\(14\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 717.60 Td (On ) Tj ET Q q 0 0 0 rg BT 99.92 717.60 Td (August ) Tj ET Q q 0 0 0 rg BT 131.63 717.60 Td (4, ) Tj ET Q q 0 0 0 rg BT 141.96 717.60 Td (2015, ) Tj ET Q q 0 0 0 rg BT 167.28 717.60 Td (SiOnyx, ) Tj ET Q q 0 0 0 rg BT 203.16 717.60 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 223.75 717.60 Td (reor) Tj ET Q q 0 0 0 rg BT 239.67 717.60 Td (ganized ) Tj ET Q q 0 0 0 rg BT 273.59 717.60 Td (its ) Tj ET Q q 0 0 0 rg BT 285.86 717.60 Td (corporate ) Tj ET Q q 0 0 0 rg BT 326.43 717.60 Td (structure ) Tj ET Q q 0 0 0 rg BT 364.24 717.60 Td (to ) Tj ET Q q 0 0 0 rg BT 374.84 717.60 Td (become ) Tj ET Q q 0 0 0 rg BT 408.76 717.60 Td (a ) Tj ET Q q 0 0 0 rg BT 416.02 717.60 Td (subsidiary ) Tj ET Q q 0 0 0 rg BT 459.95 717.60 Td (of ) Tj ET Q q 0 0 0 rg BT 471.10 717.60 Td (a ) Tj ET Q q 0 0 0 rg BT 478.36 717.60 Td (new ) Tj ET Q q 0 0 0 rg BT 497.85 717.60 Td (company) Tj ET Q q 0 0 0 rg BT 533.85 717.60 Td (, ) Tj ET Q q 0 0 0 rg BT 539.17 717.60 Td (Black ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 705.60 Td (Silicon ) Tj ET Q q 0 0 0 rg BT 116.47 705.60 Td (Holdings, ) Tj ET Q q 0 0 0 rg BT 158.28 705.60 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 176.19 705.60 Td (Our ) Tj ET Q q 0 0 0 rg BT 196.88 705.60 Td (security ) Tj ET Q q 0 0 0 rg BT 231.18 705.60 Td (holdingsof ) Tj ET Q q 0 0 0 rg BT 279.09 705.60 Td (SiOnyx, ) Tj ET Q q 0 0 0 rg BT 314.79 705.60 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 332.70 705.60 Td (were ) Tj ET Q q 0 0 0 rg BT 354.77 705.60 Td (converted ) Tj ET Q q 0 0 0 rg BT 396.83 705.60 Td (into ) Tj ET Q q 0 0 0 rg BT 415.03 705.60 Td (securities ) Tj ET Q q 0 0 0 rg BT 455.43 705.60 Td (of ) Tj ET Q q 0 0 0 rg BT 466.40 705.60 Td (Black ) Tj ET Q q 0 0 0 rg BT 492.37 705.60 Td (Silicon ) Tj ET Q q 0 0 0 rg BT 523.34 705.60 Td (Holdings, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 693.60 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 103.22 693.60 Td (SiOnyx, ) Tj ET Q q 0 0 0 rg BT 141.23 693.60 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 158.95 693.60 Td (was ) Tj ET Q q 0 0 0 rg BT 176.95 693.60 Td (then ) Tj ET Q q 0 0 0 rg BT 196.62 693.60 Td (acquired ) Tj ET Q q 0 0 0 rg BT 233.49 693.60 Td (by ) Tj ET Q q 0 0 0 rg BT 245.94 693.60 Td (an ) Tj ET Q q 0 0 0 rg BT 257.83 693.60 Td (undisclosed ) Tj ET Q q 0 0 0 rg BT 307.50 693.60 Td (buyer) Tj ET Q q 0 0 0 rg BT 329.71 693.60 Td (. ) Tj ET Q q 0 0 0 rg BT 334.67 693.60 Td (Black ) Tj ET Q q 0 0 0 rg BT 362.94 693.60 Td (Silicon ) Tj ET Q q 0 0 0 rg BT 393.73 693.60 Td (Holdings, ) Tj ET Q q 0 0 0 rg BT 435.35 693.60 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 453.06 693.60 Td (owns ) Tj ET Q q 0 0 0 rg BT 476.63 693.60 Td (a ) Tj ET Q q 0 0 0 rg BT 483.52 693.60 Td (profit ) Tj ET Q q 0 0 0 rg BT 508.18 693.60 Td (interest ) Tj ET Q q 0 0 0 rg BT 540.07 693.60 Td (in ) Tj ET Q q 0 0 0 rg BT 550.30 693.60 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 681.60 Td (undisclosed ) Tj ET Q q 0 0 0 rg BT 135.22 681.60 Td (buyer) Tj ET Q q 0 0 0 rg BT 157.43 681.60 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 657.60 Td (\(15\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 657.60 Td (Under ) Tj ET Q q 0 0 0 rg BT 112.09 657.60 Td (the ) Tj ET Q q 0 0 0 rg BT 125.90 657.60 Td (equity ) Tj ET Q q 0 0 0 rg BT 152.50 657.60 Td (method, ) Tj ET Q q 0 0 0 rg BT 186.59 657.60 Td (investments ) Tj ET Q q 0 0 0 rg BT 235.96 657.60 Td (are ) Tj ET Q q 0 0 0 rg BT 249.77 657.60 Td (carried ) Tj ET Q q 0 0 0 rg BT 279.12 657.60 Td (at ) Tj ET Q q 0 0 0 rg BT 287.93 657.60 Td (cost, ) Tj ET Q q 0 0 0 rg BT 308.14 657.60 Td (plus ) Tj ET Q q 0 0 0 rg BT 326.41 657.60 Td (or ) Tj ET Q q 0 0 0 rg BT 336.34 657.60 Td (minus ) Tj ET Q q 0 0 0 rg BT 362.38 657.60 Td (the ) Tj ET Q q 0 0 0 rg BT 376.20 657.60 Td (company's ) Tj ET Q q 0 0 0 rg BT 420.14 657.60 Td (equity ) Tj ET Q q 0 0 0 rg BT 446.74 657.60 Td (in ) Tj ET Q q 0 0 0 rg BT 456.11 657.60 Td (the ) Tj ET Q q 0 0 0 rg BT 469.93 657.60 Td (increases ) Tj ET Q q 0 0 0 rg BT 508.17 657.60 Td (and ) Tj ET Q q 0 0 0 rg BT 524.21 657.60 Td (decreases ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 645.60 Td (in ) Tj ET Q q 0 0 0 rg BT 95.51 645.60 Td (the ) Tj ET Q q 0 0 0 rg BT 109.97 645.60 Td (investee's ) Tj ET Q q 0 0 0 rg BT 150.66 645.60 Td (net ) Tj ET Q q 0 0 0 rg BT 165.11 645.60 Td (assets ) Tj ET Q q 0 0 0 rg BT 190.68 645.60 Td (after ) Tj ET Q q 0 0 0 rg BT 211.23 645.60 Td (the ) Tj ET Q q 0 0 0 rg BT 225.68 645.60 Td (date ) Tj ET Q q 0 0 0 rg BT 244.57 645.60 Td (of ) Tj ET Q q 0 0 0 rg BT 255.13 645.60 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 301.25 645.60 Td (and ) Tj ET Q q 0 0 0 rg BT 317.93 645.60 Td (certain ) Tj ET Q q 0 0 0 rg BT 347.36 645.60 Td (other ) Tj ET Q q 0 0 0 rg BT 370.15 645.60 Td (adjustments. ) Tj ET Q q 0 0 0 rg BT 422.49 645.60 Td (The ) Tj ET Q q 0 0 0 rg BT 440.27 645.60 Td (Company ) Tj ET Q q 0 0 0 rg BT 481.40 645.60 Td (owns ) Tj ET Q q 0 0 0 rg BT 504.75 645.60 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 633.60 Td (9 ) Tj ET Q q 0 0 0 rg BT 93.00 633.60 Td (percent ) Tj ET Q q 0 0 0 rg BT 124.92 633.60 Td (of ) Tj ET Q q 0 0 0 rg BT 135.20 633.60 Td (Accelerator ) Tj ET Q q 0 0 0 rg BT 184.33 633.60 Td (IV) Tj ET Q q 0 0 0 rg BT 193.97 633.60 Td (-New ) Tj ET Q q 0 0 0 rg BT 218.31 633.60 Td (Y) Tj ET Q q 0 0 0 rg BT 224.53 633.60 Td (ork ) Tj ET Q q 0 0 0 rg BT 240.36 633.60 Td (Corporation.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 609.60 Td (\(16\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 609.60 Td (If ) Tj ET Q q 0 0 0 rg BT 94.15 609.60 Td (all ) Tj ET Q q 0 0 0 rg BT 106.14 609.60 Td (the ) Tj ET Q q 0 0 0 rg BT 120.35 609.60 Td (remaining ) Tj ET Q q 0 0 0 rg BT 162.88 609.60 Td (milestones ) Tj ET Q q 0 0 0 rg BT 207.64 609.60 Td (are ) Tj ET Q q 0 0 0 rg BT 221.84 609.60 Td (met, ) Tj ET Q q 0 0 0 rg BT 241.33 609.60 Td (we ) Tj ET Q q 0 0 0 rg BT 254.98 609.60 Td (would ) Tj ET Q q 0 0 0 rg BT 281.97 609.60 Td (receive) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.33 609.60 Td ($5,384,482) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.33 609.60 Td (. ) Tj ET Q q 0 0 0 rg BT 362.68 609.60 Td (There ) Tj ET Q q 0 0 0 rg BT 387.99 609.60 Td (can ) Tj ET Q q 0 0 0 rg BT 403.85 609.60 Td (be ) Tj ET Q q 0 0 0 rg BT 415.28 609.60 Td (no ) Tj ET Q q 0 0 0 rg BT 427.28 609.60 Td (assurance ) Tj ET Q q 0 0 0 rg BT 468.13 609.60 Td (as ) Tj ET Q q 0 0 0 rg BT 478.46 609.60 Td (to ) Tj ET Q q 0 0 0 rg BT 488.23 609.60 Td (how ) Tj ET Q q 0 0 0 rg BT 507.44 609.60 Td (much ) Tj ET Q q 0 0 0 rg BT 531.65 609.60 Td (of ) Tj ET Q q 0 0 0 rg BT 541.97 609.60 Td (these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 597.60 Td (amounts ) Tj ET Q q 0 0 0 rg BT 121.89 597.60 Td (we ) Tj ET Q q 0 0 0 rg BT 136.05 597.60 Td (will ) Tj ET Q q 0 0 0 rg BT 154.10 597.60 Td (ultimately ) Tj ET Q q 0 0 0 rg BT 197.15 597.60 Td (realize ) Tj ET Q q 0 0 0 rg BT 226.29 597.60 Td (or ) Tj ET Q q 0 0 0 rg BT 237.12 597.60 Td (when ) Tj ET Q q 0 0 0 rg BT 261.28 597.60 Td (they ) Tj ET Q q 0 0 0 rg BT 281.00 597.60 Td (will ) Tj ET Q q 0 0 0 rg BT 299.05 597.60 Td (be ) Tj ET Q q 0 0 0 rg BT 310.99 597.60 Td (realized, ) Tj ET Q q 0 0 0 rg BT 347.63 597.60 Td (if ) Tj ET Q q 0 0 0 rg BT 356.24 597.60 Td (at ) Tj ET Q q 0 0 0 rg BT 365.96 597.60 Td (all.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 573.60 Td (\(17\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 573.60 Td (In ) Tj ET Q q 0 0 0 rg BT 96.41 573.60 Td (October ) Tj ET Q q 0 0 0 rg BT 131.20 573.60 Td (2017, ) Tj ET Q q 0 0 0 rg BT 156.28 573.60 Td (Xenio ) Tj ET Q q 0 0 0 rg BT 183.30 573.60 Td (Systems, ) Tj ET Q q 0 0 0 rg BT 221.73 573.60 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 242.08 573.60 Td (mer) Tj ET Q q 0 0 0 rg BT 257.44 573.60 Td (ged ) Tj ET Q q 0 0 0 rg BT 274.46 573.60 Td (with ) Tj ET Q q 0 0 0 rg BT 294.82 573.60 Td (Xenio ) Tj ET Q q 0 0 0 rg BT 321.84 573.60 Td (Holdings, ) Tj ET Q q 0 0 0 rg BT 363.60 573.60 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 381.45 573.60 Td ( ) Tj ET Q q 0 0 0 rg BT 384.03 573.60 Td (In ) Tj ET Q q 0 0 0 rg BT 394.94 573.60 Td (conjunction ) Tj ET Q q 0 0 0 rg BT 444.73 573.60 Td (with ) Tj ET Q q 0 0 0 rg BT 465.09 573.60 Td (this ) Tj ET Q q 0 0 0 rg BT 482.13 573.60 Td (mer) Tj ET Q q 0 0 0 rg BT 497.49 573.60 Td (ger) Tj ET Q q 0 0 0 rg BT 509.86 573.60 Td (, ) Tj ET Q q 0 0 0 rg BT 514.94 573.60 Td (all ) Tj ET Q q 0 0 0 rg BT 527.52 573.60 Td (common ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 561.60 Td (stock ) Tj ET Q q 0 0 0 rg BT 109.29 561.60 Td (of ) Tj ET Q q 0 0 0 rg BT 120.30 561.60 Td (Xenio ) Tj ET Q q 0 0 0 rg BT 147.43 561.60 Td (Systems, ) Tj ET Q q 0 0 0 rg BT 185.95 561.60 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 206.40 561.60 Td (was ) Tj ET Q q 0 0 0 rg BT 224.64 561.60 Td (canceled ) Tj ET Q q 0 0 0 rg BT 262.29 561.60 Td (and ) Tj ET Q q 0 0 0 rg BT 279.41 561.60 Td (shareholders ) Tj ET Q q 0 0 0 rg BT 332.63 561.60 Td (were ) Tj ET Q q 0 0 0 rg BT 354.74 561.60 Td (granted ) Tj ET Q q 0 0 0 rg BT 387.41 561.60 Td (a ) Tj ET Q q 0 0 0 rg BT 394.53 561.60 Td (right ) Tj ET Q q 0 0 0 rg BT 416.10 561.60 Td (to ) Tj ET Q q 0 0 0 rg BT 426.56 561.60 Td (a ) Tj ET Q q 0 0 0 rg BT 433.69 561.60 Td (future ) Tj ET Q q 0 0 0 rg BT 460.25 561.60 Td (payment ) Tj ET Q q 0 0 0 rg BT 497.36 561.60 Td (in ) Tj ET Q q 0 0 0 rg BT 507.82 561.60 Td (the ) Tj ET Q q 0 0 0 rg BT 522.72 561.60 Td (event ) Tj ET Q q 0 0 0 rg BT 547.06 561.60 Td (of ) Tj ET Q q 0 0 0 rg BT 558.08 561.60 Td (a ) Tj ET Q q 0 0 0 rg BT 565.01 561.60 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 549.60 Td (sale ) Tj ET Q q 0 0 0 rg BT 104.02 549.60 Td (of ) Tj ET Q q 0 0 0 rg BT 115.32 549.60 Td (Xenio ) Tj ET Q q 0 0 0 rg BT 142.73 549.60 Td (Holdings, ) Tj ET Q q 0 0 0 rg BT 184.87 549.60 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 203.10 549.60 Td ( ) Tj ET Q q 0 0 0 rg BT 205.86 549.60 Td (The ) Tj ET Q q 0 0 0 rg BT 224.38 549.60 Td (maximum ) Tj ET Q q 0 0 0 rg BT 267.90 549.60 Td (amount ) Tj ET Q q 0 0 0 rg BT 300.86 549.60 Td (we ) Tj ET Q q 0 0 0 rg BT 315.50 549.60 Td (could ) Tj ET Q q 0 0 0 rg BT 340.68 549.60 Td (receive ) Tj ET Q q 0 0 0 rg BT 372.51 549.60 Td (from ) Tj ET Q q 0 0 0 rg BT 394.92 549.60 Td (such ) Tj ET Q q 0 0 0 rg BT 416.22 549.60 Td (payments ) Tj ET Q q 0 0 0 rg BT 457.52 549.60 Td (is ) Tj ET Q q 0 0 0 rg BT 467.16 549.60 Td (approximately ) Tj ET Q q 0 0 0 rg BT 527.89 549.60 Td ($1) Tj ET Q q 0 0 0 rg BT 537.52 549.60 Td (1,000. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 537.60 Td (There ) Tj ET Q q 0 0 0 rg BT 111.38 537.60 Td (can ) Tj ET Q q 0 0 0 rg BT 127.81 537.60 Td (be ) Tj ET Q q 0 0 0 rg BT 139.81 537.60 Td (no ) Tj ET Q q 0 0 0 rg BT 152.38 537.60 Td (assurance ) Tj ET Q q 0 0 0 rg BT 193.80 537.60 Td (as ) Tj ET Q q 0 0 0 rg BT 204.69 537.60 Td (to ) Tj ET Q q 0 0 0 rg BT 215.03 537.60 Td (how ) Tj ET Q q 0 0 0 rg BT 234.82 537.60 Td (much ) Tj ET Q q 0 0 0 rg BT 259.59 537.60 Td (of ) Tj ET Q q 0 0 0 rg BT 270.49 537.60 Td (these ) Tj ET Q q 0 0 0 rg BT 293.59 537.60 Td (amounts ) Tj ET Q q 0 0 0 rg BT 330.04 537.60 Td (we ) Tj ET Q q 0 0 0 rg BT 344.26 537.60 Td (will ) Tj ET Q q 0 0 0 rg BT 362.38 537.60 Td (ultimately ) Tj ET Q q 0 0 0 rg BT 405.49 537.60 Td (realize ) Tj ET Q q 0 0 0 rg BT 434.69 537.60 Td (or ) Tj ET Q q 0 0 0 rg BT 445.58 537.60 Td (when ) Tj ET Q q 0 0 0 rg BT 469.80 537.60 Td (they ) Tj ET Q q 0 0 0 rg BT 489.58 537.60 Td (will ) Tj ET Q q 0 0 0 rg BT 507.70 537.60 Td (be ) Tj ET Q q 0 0 0 rg BT 519.70 537.60 Td (realized, ) Tj ET Q q 0 0 0 rg BT 556.40 537.60 Td (if ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 525.60 Td (at ) Tj ET Q q 0 0 0 rg BT 95.22 525.60 Td (all.) Tj ET Q endstream endobj 47 0 obj <> endobj 48 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (23) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 236.80 730.10 Td (180 DEGREE CAPIT) Tj ET Q q 0 0 0 rg BT 329.40 730.10 Td (AL) Tj ET Q q 0 0 0 rg BT 342.74 730.10 Td ( CORP) Tj ET Q q 0 0 0 rg BT 372.65 730.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 175.30 718.10 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 211.52 718.10 Td (T) Tj ET Q q 0 0 0 rg BT 218.01 718.10 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 288.11 718.10 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 367.29 718.10 Td ( ST) Tj ET Q q 0 0 0 rg BT 381.28 718.10 Td (A) Tj ET Q q 0 0 0 rg BT 387.76 718.10 Td (TEMENTS ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 50 692.53505859375 m 165.5615234375 692.53505859375 l s q 0 0 0 rg BT 50.00 694.10 Td (NOTE ) Tj ET Q q 0 0 0 rg BT 80.84 694.10 Td (1. ) Tj ET Q q 0 0 0 rg BT 90.66 694.10 Td (THE ) Tj ET Q q 0 0 0 rg BT 114.28 694.10 Td (COMP) Tj ET Q q 0 0 0 rg BT 144.08 694.10 Td (ANY) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 670.10 Td (180 ) Tj ET Q q 0 0 0 rg BT 102.68 670.10 Td (Degree ) Tj ET Q q 0 0 0 rg BT 133.23 670.10 Td (Capital ) Tj ET Q q 0 0 0 rg BT 163.79 670.10 Td (Corp. ) Tj ET Q q 0 0 0 rg BT 187.97 670.10 Td (\(f/k/a ) Tj ET Q q 0 0 0 rg BT 211.30 670.10 Td (Harris ) Tj ET Q q 0 0 0 rg BT 237.97 670.10 Td (& ) Tj ET Q q 0 0 0 rg BT 247.43 670.10 Td (Harris ) Tj ET Q q 0 0 0 rg BT 274.10 670.10 Td (Group, ) Tj ET Q q 0 0 0 rg BT 303.83 670.10 Td (Inc.\) ) Tj ET Q q 0 0 0 rg BT 324.11 670.10 Td (\(the ) Tj ET Q q 0 0 0 rg BT 341.34 670.10 Td ("Company) Tj ET Q q 0 0 0 rg BT 383.66 670.10 Td (," ) Tj ET Q q 0 0 0 rg BT 391.92 670.10 Td ("us," ) Tj ET Q q 0 0 0 rg BT 413.15 670.10 Td ("our" ) Tj ET Q q 0 0 0 rg BT 436.33 670.10 Td (and ) Tj ET Q q 0 0 0 rg BT 452.45 670.10 Td ("we"\), ) Tj ET Q q 0 0 0 rg BT 479.78 670.10 Td (withdrew ) Tj ET Q q 0 0 0 rg BT 519.23 670.10 Td (its ) Tj ET Q q 0 0 0 rg BT 530.36 670.10 Td (election ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (to ) Tj ET Q q 0 0 0 rg BT 60.16 658.10 Td (be ) Tj ET Q q 0 0 0 rg BT 71.97 658.10 Td (treated ) Tj ET Q q 0 0 0 rg BT 101.55 658.10 Td (as ) Tj ET Q q 0 0 0 rg BT 112.26 658.10 Td (a ) Tj ET Q q 0 0 0 rg BT 119.07 658.10 Td (business ) Tj ET Q q 0 0 0 rg BT 155.34 658.10 Td (development ) Tj ET Q q 0 0 0 rg BT 209.37 658.10 Td (company ) Tj ET Q q 0 0 0 rg BT 248.40 658.10 Td (on ) Tj ET Q q 0 0 0 rg BT 260.78 658.10 Td (March ) Tj ET Q q 0 0 0 rg BT 289.25 658.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 304.13 658.10 Td (2017, ) Tj ET Q q 0 0 0 rg BT 329.01 658.10 Td (and ) Tj ET Q q 0 0 0 rg BT 345.82 658.10 Td (subsequently ) Tj ET Q q 0 0 0 rg BT 400.42 658.10 Td (returned ) Tj ET Q q 0 0 0 rg BT 436.11 658.10 Td (to ) Tj ET Q q 0 0 0 rg BT 446.26 658.10 Td (its ) Tj ET Q q 0 0 0 rg BT 458.09 658.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 479.90 658.10 Td (status ) Tj ET Q q 0 0 0 rg BT 505.06 658.10 Td (as ) Tj ET Q q 0 0 0 rg BT 515.77 658.10 Td (a ) Tj ET Q q 0 0 0 rg BT 522.58 658.10 Td (registered ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (non-diversified ) Tj ET Q q 0 0 0 rg BT 113.11 646.10 Td (closed-end ) Tj ET Q q 0 0 0 rg BT 158.45 646.10 Td (management ) Tj ET Q q 0 0 0 rg BT 211.55 646.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 257.45 646.10 Td (company ) Tj ET Q q 0 0 0 rg BT 296.13 646.10 Td (\("Closed-End ) Tj ET Q q 0 0 0 rg BT 352.77 646.10 Td (Fund" ) Tj ET Q q 0 0 0 rg BT 379.43 646.10 Td (or ) Tj ET Q q 0 0 0 rg BT 389.78 646.10 Td ("CEF"\) ) Tj ET Q q 0 0 0 rg BT 421.63 646.10 Td (under ) Tj ET Q q 0 0 0 rg BT 446.42 646.10 Td (the ) Tj ET Q q 0 0 0 rg BT 460.66 646.10 Td (Investment ) Tj ET Q q 0 0 0 rg BT 507.11 646.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 547.57 646.10 Td (Act ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.68 634.10 Td (1940 ) Tj ET Q q 0 0 0 rg BT 83.02 634.10 Td (\(the ) Tj ET Q q 0 0 0 rg BT 100.92 634.10 Td ("1940 ) Tj ET Q q 0 0 0 rg BT 126.83 634.10 Td (Act"\). ) Tj ET Q q 0 0 0 rg BT 153.52 634.10 Td ( ) Tj ET Q q 0 0 0 rg BT 155.70 634.10 Td (W) Tj ET Q q 0 0 0 rg BT 164.34 634.10 Td (e ) Tj ET Q q 0 0 0 rg BT 171.12 634.10 Td (operate ) Tj ET Q q 0 0 0 rg BT 202.89 634.10 Td (as ) Tj ET Q q 0 0 0 rg BT 213.57 634.10 Td (an ) Tj ET Q q 0 0 0 rg BT 225.35 634.10 Td (internally ) Tj ET Q q 0 0 0 rg BT 266.02 634.10 Td (managed ) Tj ET Q q 0 0 0 rg BT 304.46 634.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 350.69 634.10 Td (company ) Tj ET Q q 0 0 0 rg BT 389.69 634.10 Td (whereby ) Tj ET Q q 0 0 0 rg BT 426.46 634.10 Td (our ) Tj ET Q q 0 0 0 rg BT 442.14 634.10 Td (of) Tj ET Q q 0 0 0 rg BT 450.29 634.10 Td (ficers ) Tj ET Q q 0 0 0 rg BT 474.84 634.10 Td (and ) Tj ET Q q 0 0 0 rg BT 491.63 634.10 Td (employees, ) Tj ET Q q 0 0 0 rg BT 539.24 634.10 Td (under ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.72 622.10 Td (general ) Tj ET Q q 0 0 0 rg BT 96.64 622.10 Td (supervision ) Tj ET Q q 0 0 0 rg BT 145.25 622.10 Td (of ) Tj ET Q q 0 0 0 rg BT 156.08 622.10 Td (our ) Tj ET Q q 0 0 0 rg BT 171.91 622.10 Td (Board ) Tj ET Q q 0 0 0 rg BT 198.85 622.10 Td (of ) Tj ET Q q 0 0 0 rg BT 209.68 622.10 Td (Directors, ) Tj ET Q q 0 0 0 rg BT 251.88 622.10 Td (conduct ) Tj ET Q q 0 0 0 rg BT 286.04 622.10 Td (our ) Tj ET Q q 0 0 0 rg BT 301.87 622.10 Td (operations. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 598.10 Td (H&H ) Tj ET Q q 0 0 0 rg BT 110.77 598.10 Td (V) Tj ET Q q 0 0 0 rg BT 116.89 598.10 Td (entures ) Tj ET Q q 0 0 0 rg BT 148.51 598.10 Td (Management, ) Tj ET Q q 0 0 0 rg BT 205.96 598.10 Td (Inc.) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 221.23 601.73 Td (SM) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.75 598.10 Td ( ) Tj ET Q q 0 0 0 rg BT 231.49 598.10 Td (\("V) Tj ET Q q 0 0 0 rg BT 245.02 598.10 Td (entures"\) ) Tj ET Q q 0 0 0 rg BT 284.06 598.10 Td (is ) Tj ET Q q 0 0 0 rg BT 293.48 598.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.66 598.10 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.66 598.10 Td ( ) Tj ET Q q 0 0 0 rg BT 318.41 598.10 Td (percent ) Tj ET Q q 0 0 0 rg BT 350.59 598.10 Td (owned ) Tj ET Q q 0 0 0 rg BT 380.00 598.10 Td (subsidiary ) Tj ET Q q 0 0 0 rg BT 423.85 598.10 Td (of ) Tj ET Q q 0 0 0 rg BT 434.93 598.10 Td (the ) Tj ET Q q 0 0 0 rg BT 449.90 598.10 Td (Company) Tj ET Q q 0 0 0 rg BT 488.14 598.10 Td (. ) Tj ET Q q 0 0 0 rg BT 493.19 598.10 Td (V) Tj ET Q q 0 0 0 rg BT 499.30 598.10 Td (entures ) Tj ET Q q 0 0 0 rg BT 530.92 598.10 Td (is ) Tj ET Q q 0 0 0 rg BT 540.34 598.10 Td (taxed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (under ) Tj ET Q q 0 0 0 rg BT 75.53 586.10 Td (Subchapter ) Tj ET Q q 0 0 0 rg BT 123.28 586.10 Td (C ) Tj ET Q q 0 0 0 rg BT 132.71 586.10 Td (\(a ) Tj ET Q q 0 0 0 rg BT 143.24 586.10 Td ("C ) Tj ET Q q 0 0 0 rg BT 156.76 586.10 Td (Corporation"\) ) Tj ET Q q 0 0 0 rg BT 215.26 586.10 Td (of ) Tj ET Q q 0 0 0 rg BT 226.35 586.10 Td (the ) Tj ET Q q 0 0 0 rg BT 241.33 586.10 Td (Internal ) Tj ET Q q 0 0 0 rg BT 275.19 586.10 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 312.93 586.10 Td (Code ) Tj ET Q q 0 0 0 rg BT 336.81 586.10 Td (of ) Tj ET Q q 0 0 0 rg BT 347.90 586.10 Td (1986 ) Tj ET Q q 0 0 0 rg BT 370.66 586.10 Td (\(the ) Tj ET Q q 0 0 0 rg BT 388.97 586.10 Td ("Code"\). ) Tj ET Q q 0 0 0 rg BT 426.84 586.10 Td (Harris ) Tj ET Q q 0 0 0 rg BT 454.59 586.10 Td (Partners ) Tj ET Q q 0 0 0 rg BT 490.12 586.10 Td (I, ) Tj ET Q q 0 0 0 rg BT 498.71 586.10 Td (L.P) Tj ET Q q 0 0 0 rg BT 511.77 586.10 Td (, ) Tj ET Q q 0 0 0 rg BT 517.04 586.10 Td (is ) Tj ET Q q 0 0 0 rg BT 526.47 586.10 Td (a ) Tj ET Q q 0 0 0 rg BT 533.67 586.10 Td (limited ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (partnership ) Tj ET Q q 0 0 0 rg BT 96.83 574.10 Td (and, ) Tj ET Q q 0 0 0 rg BT 115.61 574.10 Td (from ) Tj ET Q q 0 0 0 rg BT 136.89 574.10 Td (time ) Tj ET Q q 0 0 0 rg BT 156.50 574.10 Td (to ) Tj ET Q q 0 0 0 rg BT 166.13 574.10 Td (time, ) Tj ET Q q 0 0 0 rg BT 188.24 574.10 Td (may ) Tj ET Q q 0 0 0 rg BT 207.30 574.10 Td (be ) Tj ET Q q 0 0 0 rg BT 218.58 574.10 Td (used ) Tj ET Q q 0 0 0 rg BT 238.75 574.10 Td (to ) Tj ET Q q 0 0 0 rg BT 248.37 574.10 Td (hold ) Tj ET Q q 0 0 0 rg BT 267.99 574.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 297.04 574.10 Td (interests ) Tj ET Q q 0 0 0 rg BT 332.21 574.10 Td (in ) Tj ET Q q 0 0 0 rg BT 341.83 574.10 Td (our ) Tj ET Q q 0 0 0 rg BT 357.00 574.10 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 393.84 574.10 Td (companies. ) Tj ET Q q 0 0 0 rg BT 440.81 574.10 Td (The ) Tj ET Q q 0 0 0 rg BT 458.20 574.10 Td (partners ) Tj ET Q q 0 0 0 rg BT 492.25 574.10 Td (of ) Tj ET Q q 0 0 0 rg BT 502.42 574.10 Td (Harris ) Tj ET Q q 0 0 0 rg BT 529.25 574.10 Td (Partners ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (I, ) Tj ET Q q 0 0 0 rg BT 58.52 562.10 Td (L.P) Tj ET Q q 0 0 0 rg BT 71.59 562.10 Td (., ) Tj ET Q q 0 0 0 rg BT 79.28 562.10 Td (are ) Tj ET Q q 0 0 0 rg BT 93.99 562.10 Td (V) Tj ET Q q 0 0 0 rg BT 100.10 562.10 Td (entures ) Tj ET Q q 0 0 0 rg BT 131.67 562.10 Td (\(sole ) Tj ET Q q 0 0 0 rg BT 153.80 562.10 Td (general ) Tj ET Q q 0 0 0 rg BT 185.92 562.10 Td (partner\) ) Tj ET Q q 0 0 0 rg BT 220.26 562.10 Td (and ) Tj ET Q q 0 0 0 rg BT 237.40 562.10 Td (the ) Tj ET Q q 0 0 0 rg BT 252.31 562.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 293.89 562.10 Td (\(sole ) Tj ET Q q 0 0 0 rg BT 316.02 562.10 Td (limited ) Tj ET Q q 0 0 0 rg BT 347.04 562.10 Td (partner\). ) Tj ET Q q 0 0 0 rg BT 383.69 562.10 Td (V) Tj ET Q q 0 0 0 rg BT 389.80 562.10 Td (entures ) Tj ET Q q 0 0 0 rg BT 421.37 562.10 Td (pays ) Tj ET Q q 0 0 0 rg BT 442.40 562.10 Td (taxes ) Tj ET Q q 0 0 0 rg BT 465.64 562.10 Td (on ) Tj ET Q q 0 0 0 rg BT 478.33 562.10 Td (income ) Tj ET Q q 0 0 0 rg BT 510.46 562.10 Td (generated ) Tj ET Q q 0 0 0 rg BT 552.02 562.10 Td (by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (its ) Tj ET Q q 0 0 0 rg BT 60.89 550.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 103.98 550.10 Td (as ) Tj ET Q q 0 0 0 rg BT 113.75 550.10 Td (well ) Tj ET Q q 0 0 0 rg BT 132.41 550.10 Td (as ) Tj ET Q q 0 0 0 rg BT 142.18 550.10 Td (on ) Tj ET Q q 0 0 0 rg BT 153.62 550.10 Td (any ) Tj ET Q q 0 0 0 rg BT 169.50 550.10 Td (non-passive ) Tj ET Q q 0 0 0 rg BT 218.70 550.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 264.02 550.10 Td (income ) Tj ET Q q 0 0 0 rg BT 294.90 550.10 Td (generated ) Tj ET Q q 0 0 0 rg BT 335.20 550.10 Td (by ) Tj ET Q q 0 0 0 rg BT 346.64 550.10 Td (Harris ) Tj ET Q q 0 0 0 rg BT 373.07 550.10 Td (Partners ) Tj ET Q q 0 0 0 rg BT 407.28 550.10 Td (I, ) Tj ET Q q 0 0 0 rg BT 414.55 550.10 Td (L.P) Tj ET Q q 0 0 0 rg BT 427.61 550.10 Td (. ) Tj ET Q q 0 0 0 rg BT 431.55 550.10 Td ( ) Tj ET Q q 0 0 0 rg BT 432.99 550.10 Td (For ) Tj ET Q q 0 0 0 rg BT 448.32 550.10 Td (the ) Tj ET Q q 0 0 0 rg BT 461.97 550.10 Td (year ) Tj ET Q q 0 0 0 rg BT 480.62 550.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.94 550.10 Td (December31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 538.10 Td (, ) Tj ET Q q 0 0 0 rg BT 75.90 538.10 Td (there ) Tj ET Q q 0 0 0 rg BT 99.28 538.10 Td (was ) Tj ET Q q 0 0 0 rg BT 118.23 538.10 Td (no ) Tj ET Q q 0 0 0 rg BT 131.62 538.10 Td (non-passive ) Tj ET Q q 0 0 0 rg BT 182.79 538.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 230.06 538.10 Td (income ) Tj ET Q q 0 0 0 rg BT 262.89 538.10 Td (generated ) Tj ET Q q 0 0 0 rg BT 305.15 538.10 Td (by ) Tj ET Q q 0 0 0 rg BT 318.55 538.10 Td (Harris ) Tj ET Q q 0 0 0 rg BT 346.93 538.10 Td (Partners ) Tj ET Q q 0 0 0 rg BT 383.10 538.10 Td (I, ) Tj ET Q q 0 0 0 rg BT 392.32 538.10 Td (L.P) Tj ET Q q 0 0 0 rg BT 405.39 538.10 Td (. ) Tj ET Q q 0 0 0 rg BT 411.04 538.10 Td (V) Tj ET Q q 0 0 0 rg BT 417.15 538.10 Td (entures, ) Tj ET Q q 0 0 0 rg BT 451.92 538.10 Td (as ) Tj ET Q q 0 0 0 rg BT 463.65 538.10 Td (the ) Tj ET Q q 0 0 0 rg BT 479.26 538.10 Td (sole ) Tj ET Q q 0 0 0 rg BT 498.77 538.10 Td (general ) Tj ET Q q 0 0 0 rg BT 531.59 538.10 Td (partner) Tj ET Q q 0 0 0 rg BT 559.50 538.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (consolidates ) Tj ET Q q 0 0 0 rg BT 101.93 526.10 Td (Harris ) Tj ET Q q 0 0 0 rg BT 129.42 526.10 Td (Partners ) Tj ET Q q 0 0 0 rg BT 164.69 526.10 Td (I, ) Tj ET Q q 0 0 0 rg BT 173.02 526.10 Td (L.P) Tj ET Q q 0 0 0 rg BT 186.08 526.10 Td (. ) Tj ET Q q 0 0 0 rg BT 190.90 526.10 Td (The ) Tj ET Q q 0 0 0 rg BT 208.95 526.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 250.34 526.10 Td (consolidates ) Tj ET Q q 0 0 0 rg BT 302.09 526.10 Td (V) Tj ET Q q 0 0 0 rg BT 308.20 526.10 Td (entures ) Tj ET Q q 0 0 0 rg BT 339.58 526.10 Td (for ) Tj ET Q q 0 0 0 rg BT 353.74 526.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 391.22 526.10 Td (reporting ) Tj ET Q q 0 0 0 rg BT 430.38 526.10 Td (purposes.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 502.10 Td (The ) Tj ET Q q 0 0 0 rg BT 104.32 502.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 145.99 502.10 Td (is ) Tj ET Q q 0 0 0 rg BT 155.44 502.10 Td (the ) Tj ET Q q 0 0 0 rg BT 170.43 502.10 Td (Managing ) Tj ET Q q 0 0 0 rg BT 213.75 502.10 Td (Member ) Tj ET Q q 0 0 0 rg BT 250.41 502.10 Td (of ) Tj ET Q q 0 0 0 rg BT 261.52 502.10 Td (H&H ) Tj ET Q q 0 0 0 rg BT 286.51 502.10 Td (Co-Investment ) Tj ET Q q 0 0 0 rg BT 348.73 502.10 Td (Partners, ) Tj ET Q q 0 0 0 rg BT 386.77 502.10 Td (LLC, ) Tj ET Q q 0 0 0 rg BT 410.94 502.10 Td (a ) Tj ET Q q 0 0 0 rg BT 418.15 502.10 Td (limited ) Tj ET Q q 0 0 0 rg BT 449.26 502.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 483.14 502.10 Td (company ) Tj ET Q q 0 0 0 rg BT 522.58 502.10 Td (formed ) Tj ET Q q 0 0 0 rg BT 554.23 502.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (facilitate ) Tj ET Q q 0 0 0 rg BT 87.95 490.10 Td (the ) Tj ET Q q 0 0 0 rg BT 103.15 490.10 Td (opportunity ) Tj ET Q q 0 0 0 rg BT 152.79 490.10 Td (for ) Tj ET Q q 0 0 0 rg BT 167.43 490.10 Td (interested ) Tj ET Q q 0 0 0 rg BT 209.28 490.10 Td (investors ) Tj ET Q q 0 0 0 rg BT 248.37 490.10 Td (to ) Tj ET Q q 0 0 0 rg BT 259.13 490.10 Td (co-invest ) Tj ET Q q 0 0 0 rg BT 298.76 490.10 Td (alongside ) Tj ET Q q 0 0 0 rg BT 340.06 490.10 Td (the ) Tj ET Q q 0 0 0 rg BT 355.26 490.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 397.12 490.10 Td (in ) Tj ET Q q 0 0 0 rg BT 407.88 490.10 Td (its ) Tj ET Q q 0 0 0 rg BT 420.31 490.10 Td (private ) Tj ET Q q 0 0 0 rg BT 451.05 490.10 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 489.02 490.10 Td (companies. ) Tj ET Q q 0 0 0 rg BT 537.27 490.10 Td ( ) Tj ET Q q 0 0 0 rg BT 539.59 490.10 Td (As ) Tj ET Q q 0 0 0 rg BT 553.68 490.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 107.60 478.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 127.60 478.10 Td (, ) Tj ET Q q 0 0 0 rg BT 131.61 478.10 Td (H&H ) Tj ET Q q 0 0 0 rg BT 155.35 478.10 Td (Co-Investment ) Tj ET Q q 0 0 0 rg BT 216.29 478.10 Td (Partners ) Tj ET Q q 0 0 0 rg BT 250.58 478.10 Td (did ) Tj ET Q q 0 0 0 rg BT 264.87 478.10 Td (not ) Tj ET Q q 0 0 0 rg BT 279.16 478.10 Td (have ) Tj ET Q q 0 0 0 rg BT 299.55 478.10 Td (any ) Tj ET Q q 0 0 0 rg BT 315.50 478.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 343.67 478.10 Td (under ) Tj ET Q q 0 0 0 rg BT 367.95 478.10 Td (management. ) Tj ET Q q 0 0 0 rg BT 423.05 478.10 Td ( ) Tj ET Q q 0 0 0 rg BT 424.46 478.10 Td (The ) Tj ET Q q 0 0 0 rg BT 441.52 478.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 481.92 478.10 Td (is ) Tj ET Q q 0 0 0 rg BT 490.10 478.10 Td (also ) Tj ET Q q 0 0 0 rg BT 507.72 478.10 Td (the ) Tj ET Q q 0 0 0 rg BT 521.45 478.10 Td (Managing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (Member ) Tj ET Q q 0 0 0 rg BT 86.66 466.10 Td (of ) Tj ET Q q 0 0 0 rg BT 97.77 466.10 Td (180 ) Tj ET Q q 0 0 0 rg BT 115.56 466.10 Td (Degree ) Tj ET Q q 0 0 0 rg BT 147.21 466.10 Td (Capital ) Tj ET Q q 0 0 0 rg BT 178.87 466.10 Td (Management, ) Tj ET Q q 0 0 0 rg BT 236.36 466.10 Td (LLC ) Tj ET Q q 0 0 0 rg BT 258.03 466.10 Td (\("180CM"\), ) Tj ET Q q 0 0 0 rg BT 308.70 466.10 Td (a ) Tj ET Q q 0 0 0 rg BT 315.92 466.10 Td (limited ) Tj ET Q q 0 0 0 rg BT 347.03 466.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 380.92 466.10 Td (company ) Tj ET Q q 0 0 0 rg BT 420.36 466.10 Td (formed ) Tj ET Q q 0 0 0 rg BT 452.02 466.10 Td (to ) Tj ET Q q 0 0 0 rg BT 462.58 466.10 Td (facilitate ) Tj ET Q q 0 0 0 rg BT 500.34 466.10 Td (the ) Tj ET Q q 0 0 0 rg BT 515.34 466.10 Td (opportunity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (for ) Tj ET Q q 0 0 0 rg BT 63.81 454.10 Td (interested ) Tj ET Q q 0 0 0 rg BT 104.83 454.10 Td (investors ) Tj ET Q q 0 0 0 rg BT 143.09 454.10 Td (to ) Tj ET Q q 0 0 0 rg BT 153.02 454.10 Td (co-invest ) Tj ET Q q 0 0 0 rg BT 191.83 454.10 Td (alongside ) Tj ET Q q 0 0 0 rg BT 232.30 454.10 Td (the ) Tj ET Q q 0 0 0 rg BT 246.67 454.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 287.71 454.10 Td (in ) Tj ET Q q 0 0 0 rg BT 297.64 454.10 Td (its ) Tj ET Q q 0 0 0 rg BT 309.24 454.10 Td (publicly ) Tj ET Q q 0 0 0 rg BT 344.16 454.10 Td (traded ) Tj ET Q q 0 0 0 rg BT 371.30 454.10 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 408.44 454.10 Td (companies. ) Tj ET Q q 0 0 0 rg BT 455.86 454.10 Td ( ) Tj ET Q q 0 0 0 rg BT 457.54 454.10 Td (As ) Tj ET Q q 0 0 0 rg BT 470.80 454.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.28 454.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 539.52 454.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.52 454.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (the ) Tj ET Q q 0 0 0 rg BT 65.22 442.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 107.12 442.10 Td (had ) Tj ET Q q 0 0 0 rg BT 124.57 442.10 Td ($6.1 ) Tj ET Q q 0 0 0 rg BT 145.07 442.10 Td (million ) Tj ET Q q 0 0 0 rg BT 176.97 442.10 Td (in ) Tj ET Q q 0 0 0 rg BT 187.76 442.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 217.42 442.10 Td (under ) Tj ET Q q 0 0 0 rg BT 243.19 442.10 Td (management ) Tj ET Q q 0 0 0 rg BT 297.29 442.10 Td (in ) Tj ET Q q 0 0 0 rg BT 308.08 442.10 Td (two ) Tj ET Q q 0 0 0 rg BT 326.08 442.10 Td (funds, ) Tj ET Q q 0 0 0 rg BT 353.60 442.10 Td (TheStreet ) Tj ET Q q 0 0 0 rg BT 395.48 442.10 Td (SPV) Tj ET Q q 0 0 0 rg BT 413.64 442.10 Td ( ) Tj ET Q q 0 0 0 rg BT 416.65 442.10 Td (Series ) Tj ET Q q 0 0 0 rg BT 444.09 442.10 Td (\("TST) Tj ET Q q 0 0 0 rg BT 469.10 442.10 Td ( ) Tj ET Q q 0 0 0 rg BT 472.11 442.10 Td (SPV"\) ) Tj ET Q q 0 0 0 rg BT 500.88 442.10 Td (and ) Tj ET Q q 0 0 0 rg BT 518.32 442.10 Td (180.2 ) Tj ET Q q 0 0 0 rg BT 543.83 442.10 Td (SPV) Tj ET Q q 0 0 0 rg BT 561.99 442.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (Series ) Tj ET Q q 0 0 0 rg BT 76.94 430.10 Td (\("180.2 ) Tj ET Q q 0 0 0 rg BT 109.35 430.10 Td (SPV"\), ) Tj ET Q q 0 0 0 rg BT 140.11 430.10 Td (each ) Tj ET Q q 0 0 0 rg BT 160.92 430.10 Td (a ) Tj ET Q q 0 0 0 rg BT 167.86 430.10 Td (series ) Tj ET Q q 0 0 0 rg BT 193.13 430.10 Td (of ) Tj ET Q q 0 0 0 rg BT 203.96 430.10 Td (180CM. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 406.10 Td (The ) Tj ET Q q 0 0 0 rg BT 103.39 406.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 144.12 406.10 Td (may) Tj ET Q q 0 0 0 rg BT 160.68 406.10 Td (, ) Tj ET Q q 0 0 0 rg BT 165.02 406.10 Td (in ) Tj ET Q q 0 0 0 rg BT 174.64 406.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 203.69 406.10 Td (cases, ) Tj ET Q q 0 0 0 rg BT 229.13 406.10 Td (receive ) Tj ET Q q 0 0 0 rg BT 259.83 406.10 Td (management ) Tj ET Q q 0 0 0 rg BT 312.76 406.10 Td (fees ) Tj ET Q q 0 0 0 rg BT 330.70 406.10 Td (and ) Tj ET Q q 0 0 0 rg BT 346.98 406.10 Td (carried ) Tj ET Q q 0 0 0 rg BT 376.57 406.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 407.85 406.10 Td (on ) Tj ET Q q 0 0 0 rg BT 419.69 406.10 Td (profits ) Tj ET Q q 0 0 0 rg BT 447.64 406.10 Td (generated ) Tj ET Q q 0 0 0 rg BT 488.34 406.10 Td (on ) Tj ET Q q 0 0 0 rg BT 500.18 406.10 Td (invested ) Tj ET Q q 0 0 0 rg BT 535.35 406.10 Td (capital ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (from ) Tj ET Q q 0 0 0 rg BT 71.57 394.10 Td (any ) Tj ET Q q 0 0 0 rg BT 88.13 394.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 116.91 394.10 Td (under ) Tj ET Q q 0 0 0 rg BT 141.81 394.10 Td (management ) Tj ET Q q 0 0 0 rg BT 195.02 394.10 Td (if ) Tj ET Q q 0 0 0 rg BT 203.26 394.10 Td (and ) Tj ET Q q 0 0 0 rg BT 219.83 394.10 Td (when ) Tj ET Q q 0 0 0 rg BT 243.62 394.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 272.39 394.10 Td (is ) Tj ET Q q 0 0 0 rg BT 281.19 394.10 Td (raised ) Tj ET Q q 0 0 0 rg BT 307.20 394.10 Td (and ) Tj ET Q q 0 0 0 rg BT 323.76 394.10 Td (if ) Tj ET Q q 0 0 0 rg BT 332.00 394.10 Td (and ) Tj ET Q q 0 0 0 rg BT 348.57 394.10 Td (when ) Tj ET Q q 0 0 0 rg BT 372.35 394.10 Td (profits ) Tj ET Q q 0 0 0 rg BT 400.59 394.10 Td (are ) Tj ET Q q 0 0 0 rg BT 414.92 394.10 Td (realized, ) Tj ET Q q 0 0 0 rg BT 451.19 394.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 498.85 394.10 Td (. ) Tj ET Q q 0 0 0 rg BT 503.48 394.10 Td ( ) Tj ET Q q 0 0 0 rg BT 505.46 394.10 Td (The ) Tj ET Q q 0 0 0 rg BT 523.13 394.10 Td (Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (does ) Tj ET Q q 0 0 0 rg BT 70.76 382.10 Td (not ) Tj ET Q q 0 0 0 rg BT 85.97 382.10 Td (consolidate ) Tj ET Q q 0 0 0 rg BT 133.94 382.10 Td (the ) Tj ET Q q 0 0 0 rg BT 148.59 382.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 192.68 382.10 Td (of ) Tj ET Q q 0 0 0 rg BT 203.44 382.10 Td (any ) Tj ET Q q 0 0 0 rg BT 220.31 382.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 249.39 382.10 Td (managed ) Tj ET Q q 0 0 0 rg BT 287.91 382.10 Td (in ) Tj ET Q q 0 0 0 rg BT 298.12 382.10 Td (separate ) Tj ET Q q 0 0 0 rg BT 333.30 382.10 Td (series ) Tj ET Q q 0 0 0 rg BT 358.50 382.10 Td (of ) Tj ET Q q 0 0 0 rg BT 369.26 382.10 Td (180CM ) Tj ET Q q 0 0 0 rg BT 402.26 382.10 Td (and ) Tj ET Q q 0 0 0 rg BT 419.13 382.10 Td (it ) Tj ET Q q 0 0 0 rg BT 427.11 382.10 Td (does ) Tj ET Q q 0 0 0 rg BT 447.87 382.10 Td (not ) Tj ET Q q 0 0 0 rg BT 463.08 382.10 Td (expect ) Tj ET Q q 0 0 0 rg BT 491.61 382.10 Td (to ) Tj ET Q q 0 0 0 rg BT 501.82 382.10 Td (consolidate ) Tj ET Q q 0 0 0 rg BT 549.79 382.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 93.35 370.10 Td (of ) Tj ET Q q 0 0 0 rg BT 103.37 370.10 Td (any ) Tj ET Q q 0 0 0 rg BT 119.51 370.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 147.85 370.10 Td (managed ) Tj ET Q q 0 0 0 rg BT 185.64 370.10 Td (in ) Tj ET Q q 0 0 0 rg BT 195.11 370.10 Td (separate ) Tj ET Q q 0 0 0 rg BT 229.56 370.10 Td (series ) Tj ET Q q 0 0 0 rg BT 254.02 370.10 Td (of ) Tj ET Q q 0 0 0 rg BT 264.05 370.10 Td (H&H ) Tj ET Q q 0 0 0 rg BT 287.96 370.10 Td (Co-Investment ) Tj ET Q q 0 0 0 rg BT 349.09 370.10 Td (Partners, ) Tj ET Q q 0 0 0 rg BT 386.05 370.10 Td (if ) Tj ET Q q 0 0 0 rg BT 393.86 370.10 Td (and ) Tj ET Q q 0 0 0 rg BT 409.99 370.10 Td (when ) Tj ET Q q 0 0 0 rg BT 433.34 370.10 Td (it ) Tj ET Q q 0 0 0 rg BT 440.60 370.10 Td (has ) Tj ET Q q 0 0 0 rg BT 455.62 370.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 483.96 370.10 Td (under ) Tj ET Q q 0 0 0 rg BT 508.43 370.10 Td (management. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 346.10 Td (180 ) Tj ET Q q 0 0 0 rg BT 104.08 346.10 Td (Degree ) Tj ET Q q 0 0 0 rg BT 136.03 346.10 Td (Capital ) Tj ET Q q 0 0 0 rg BT 168.00 346.10 Td (BD, ) Tj ET Q q 0 0 0 rg BT 187.47 346.10 Td (LLC ) Tj ET Q q 0 0 0 rg BT 209.44 346.10 Td (\("180BD"\) ) Tj ET Q q 0 0 0 rg BT 256.24 346.10 Td (is ) Tj ET Q q 0 0 0 rg BT 266.00 346.10 Td (a ) Tj ET Q q 0 0 0 rg BT 273.52 346.10 Td (100 ) Tj ET Q q 0 0 0 rg BT 291.60 346.10 Td (percent ) Tj ET Q q 0 0 0 rg BT 324.11 346.10 Td (owned ) Tj ET Q q 0 0 0 rg BT 353.85 346.10 Td (subsidiary ) Tj ET Q q 0 0 0 rg BT 398.05 346.10 Td (of ) Tj ET Q q 0 0 0 rg BT 409.46 346.10 Td (the ) Tj ET Q q 0 0 0 rg BT 424.76 346.10 Td (Company) Tj ET Q q 0 0 0 rg BT 463.00 346.10 Td (. ) Tj ET Q q 0 0 0 rg BT 468.58 346.10 Td ( ) Tj ET Q q 0 0 0 rg BT 471.66 346.10 Td (180BD ) Tj ET Q q 0 0 0 rg BT 503.64 346.10 Td (was ) Tj ET Q q 0 0 0 rg BT 522.27 346.10 Td (formed ) Tj ET Q q 0 0 0 rg BT 554.23 346.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (provide ) Tj ET Q q 0 0 0 rg BT 84.04 334.10 Td (services ) Tj ET Q q 0 0 0 rg BT 119.73 334.10 Td (to ) Tj ET Q q 0 0 0 rg BT 131.00 334.10 Td (the ) Tj ET Q q 0 0 0 rg BT 146.70 334.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 189.08 334.10 Td (related ) Tj ET Q q 0 0 0 rg BT 219.77 334.10 Td (to ) Tj ET Q q 0 0 0 rg BT 231.04 334.10 Td (fundraising ) Tj ET Q q 0 0 0 rg BT 280.07 334.10 Td (for ) Tj ET Q q 0 0 0 rg BT 295.22 334.10 Td (co-investment ) Tj ET Q q 0 0 0 rg BT 355.36 334.10 Td (funds ) Tj ET Q q 0 0 0 rg BT 381.07 334.10 Td (and ) Tj ET Q q 0 0 0 rg BT 399.00 334.10 Td (not ) Tj ET Q q 0 0 0 rg BT 415.27 334.10 Td (for ) Tj ET Q q 0 0 0 rg BT 430.42 334.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 477.79 334.10 Td (returns. ) Tj ET Q q 0 0 0 rg BT 511.54 334.10 Td ( ) Tj ET Q q 0 0 0 rg BT 515.03 334.10 Td (180BD ) Tj ET Q q 0 0 0 rg BT 547.41 334.10 Td (is ) Tj ET Q q 0 0 0 rg BT 557.57 334.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (registered ) Tj ET Q q 0 0 0 rg BT 92.58 322.10 Td (broker) Tj ET Q q 0 0 0 rg BT 118.48 322.10 Td (-dealer ) Tj ET Q q 0 0 0 rg BT 149.40 322.10 Td (with ) Tj ET Q q 0 0 0 rg BT 170.34 322.10 Td (the ) Tj ET Q q 0 0 0 rg BT 185.71 322.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 226.09 322.10 Td (Industry ) Tj ET Q q 0 0 0 rg BT 262.58 322.10 Td (Regulatory ) Tj ET Q q 0 0 0 rg BT 309.47 322.10 Td (Authority ) Tj ET Q q 0 0 0 rg BT 351.52 322.10 Td (\("FINRA"\). ) Tj ET Q q 0 0 0 rg BT 402.01 322.10 Td ( ) Tj ET Q q 0 0 0 rg BT 404.94 322.10 Td (The ) Tj ET Q q 0 0 0 rg BT 423.65 322.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 465.70 322.10 Td (consolidates ) Tj ET Q q 0 0 0 rg BT 518.29 322.10 Td (180BD ) Tj ET Q q 0 0 0 rg BT 550.34 322.10 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 87.48 310.10 Td (reporting ) Tj ET Q q 0 0 0 rg BT 126.64 310.10 Td (purposes. ) Tj ET Q q 0 0 0 rg BT 167.19 310.10 Td ( ) Tj ET Q q 0 0 0 rg BT 169.69 310.10 Td (180BD ) Tj ET Q q 0 0 0 rg BT 201.08 310.10 Td (is ) Tj ET Q q 0 0 0 rg BT 210.25 310.10 Td (currently ) Tj ET Q q 0 0 0 rg BT 248.84 310.10 Td (a ) Tj ET Q q 0 0 0 rg BT 255.78 310.10 Td (disregarded ) Tj ET Q q 0 0 0 rg BT 304.93 310.10 Td (entity ) Tj ET Q q 0 0 0 rg BT 330.20 310.10 Td (for ) Tj ET Q q 0 0 0 rg BT 344.36 310.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 359.08 310.10 Td (purposes ) Tj ET Q q 0 0 0 rg BT 397.13 310.10 Td (under ) Tj ET Q q 0 0 0 rg BT 422.40 310.10 Td (the ) Tj ET Q q 0 0 0 rg BT 437.11 310.10 Td (Code.) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 50 284.53505859375 m 350.146484375 284.53505859375 l s q 0 0 0 rg BT 50.00 286.10 Td (NOTE ) Tj ET Q q 0 0 0 rg BT 80.84 286.10 Td (2. ) Tj ET Q q 0 0 0 rg BT 90.84 286.10 Td (SUMMAR) Tj ET Q q 0 0 0 rg BT 136.59 286.10 Td (Y) Tj ET Q q 0 0 0 rg BT 143.44 286.10 Td ( ) Tj ET Q q 0 0 0 rg BT 145.94 286.10 Td (OF) Tj ET Q q 0 0 0 rg BT 159.46 286.10 Td ( ) Tj ET Q q 0 0 0 rg BT 161.96 286.10 Td (SIGNIFICANT) Tj ET Q q 0 0 0 rg BT 228.46 286.10 Td ( ) Tj ET Q q 0 0 0 rg BT 230.41 286.10 Td (ACCOUNTING ) Tj ET Q q 0 0 0 rg BT 302.35 286.10 Td (POLICIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 274.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 262.10 Td (The ) Tj ET Q q 0 0 0 rg BT 104.08 262.10 Td (following ) Tj ET Q q 0 0 0 rg BT 145.51 262.10 Td (is ) Tj ET Q q 0 0 0 rg BT 154.71 262.10 Td (a ) Tj ET Q q 0 0 0 rg BT 161.69 262.10 Td (summary ) Tj ET Q q 0 0 0 rg BT 201.44 262.10 Td (of ) Tj ET Q q 0 0 0 rg BT 212.31 262.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 257.06 262.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 303.47 262.10 Td (policies ) Tj ET Q q 0 0 0 rg BT 337.11 262.10 Td (followed ) Tj ET Q q 0 0 0 rg BT 375.19 262.10 Td (in ) Tj ET Q q 0 0 0 rg BT 385.50 262.10 Td (the ) Tj ET Q q 0 0 0 rg BT 400.26 262.10 Td (preparation ) Tj ET Q q 0 0 0 rg BT 448.33 262.10 Td (of ) Tj ET Q q 0 0 0 rg BT 459.19 262.10 Td (the ) Tj ET Q q 0 0 0 rg BT 473.95 262.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 527.03 262.10 Td (financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (statements:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 238.10 Td () Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 86 224.76699218750002 m 198.919921875 224.76699218750002 l s q 0 0 0 rg BT 86.00 226.10 Td (Principles ) Tj ET Q q 0 0 0 rg BT 128.99 226.10 Td (of ) Tj ET Q q 0 0 0 rg BT 140.31 226.10 Td (Consolidation.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.92 226.10 Td ( ) Tj ET Q q 0 0 0 rg BT 201.69 226.10 Td (The ) Tj ET Q q 0 0 0 rg BT 220.23 226.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 273.76 226.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 311.74 226.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 356.94 226.10 Td (have ) Tj ET Q q 0 0 0 rg BT 378.81 226.10 Td (been ) Tj ET Q q 0 0 0 rg BT 400.67 226.10 Td (prepared ) Tj ET Q q 0 0 0 rg BT 438.64 226.10 Td (in ) Tj ET Q q 0 0 0 rg BT 449.41 226.10 Td (accordance ) Tj ET Q q 0 0 0 rg BT 497.36 226.10 Td (with ) Tj ET Q q 0 0 0 rg BT 518.13 226.10 Td (accounting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (principles ) Tj ET Q q 0 0 0 rg BT 91.92 214.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 131.62 214.10 Td (accepted ) Tj ET Q q 0 0 0 rg BT 169.08 214.10 Td (in ) Tj ET Q q 0 0 0 rg BT 179.35 214.10 Td (the ) Tj ET Q q 0 0 0 rg BT 194.05 214.10 Td (US ) Tj ET Q q 0 0 0 rg BT 209.33 214.10 Td (\("GAAP"\) ) Tj ET Q q 0 0 0 rg BT 253.87 214.10 Td (and ) Tj ET Q q 0 0 0 rg BT 270.25 214.10 Td (Articles ) Tj ET Q q 0 0 0 rg BT 304.39 214.10 Td (6 ) Tj ET Q q 0 0 0 rg BT 311.88 214.10 Td (and ) Tj ET Q q 0 0 0 rg BT 328.81 214.10 Td (12 ) Tj ET Q q 0 0 0 rg BT 341.30 214.10 Td (of ) Tj ET Q q 0 0 0 rg BT 352.12 214.10 Td (Regulation ) Tj ET Q q 0 0 0 rg BT 398.49 214.10 Td (S-X ) Tj ET Q q 0 0 0 rg BT 417.10 214.10 Td (of ) Tj ET Q q 0 0 0 rg BT 427.92 214.10 Td (the ) Tj ET Q q 0 0 0 rg BT 442.62 214.10 Td (SEC ) Tj ET Q q 0 0 0 rg BT 463.45 214.10 Td (and ) Tj ET Q q 0 0 0 rg BT 480.38 214.10 Td (include ) Tj ET Q q 0 0 0 rg BT 512.31 214.10 Td (the ) Tj ET Q q 0 0 0 rg BT 527.01 214.10 Td (accounts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.67 202.10 Td (the ) Tj ET Q q 0 0 0 rg BT 75.22 202.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 116.45 202.10 Td (and ) Tj ET Q q 0 0 0 rg BT 133.23 202.10 Td (its ) Tj ET Q q 0 0 0 rg BT 145.01 202.10 Td (wholly ) Tj ET Q q 0 0 0 rg BT 175.13 202.10 Td (owned ) Tj ET Q q 0 0 0 rg BT 204.13 202.10 Td (subsidiaries. ) Tj ET Q q 0 0 0 rg BT 256.02 202.10 Td (The ) Tj ET Q q 0 0 0 rg BT 273.90 202.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 315.13 202.10 Td (is ) Tj ET Q q 0 0 0 rg BT 324.14 202.10 Td (an ) Tj ET Q q 0 0 0 rg BT 335.92 202.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 382.14 202.10 Td (company ) Tj ET Q q 0 0 0 rg BT 421.13 202.10 Td (following ) Tj ET Q q 0 0 0 rg BT 462.36 202.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 508.57 202.10 Td (and ) Tj ET Q q 0 0 0 rg BT 525.34 202.10 Td (reporting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (guidance ) Tj ET Q q 0 0 0 rg BT 88.23 190.10 Td (in ) Tj ET Q q 0 0 0 rg BT 97.68 190.10 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 146.47 190.10 Td (Standards ) Tj ET Q q 0 0 0 rg BT 188.04 190.10 Td (Codification ) Tj ET Q q 0 0 0 rg BT 240.17 190.10 Td (946. ) Tj ET Q q 0 0 0 rg BT 259.81 190.10 Td (In ) Tj ET Q q 0 0 0 rg BT 270.28 190.10 Td (accordance ) Tj ET Q q 0 0 0 rg BT 317.38 190.10 Td (with ) Tj ET Q q 0 0 0 rg BT 337.29 190.10 Td (GAAP) Tj ET Q q 0 0 0 rg BT 364.15 190.10 Td ( ) Tj ET Q q 0 0 0 rg BT 366.29 190.10 Td (and ) Tj ET Q q 0 0 0 rg BT 382.86 190.10 Td (Regulation ) Tj ET Q q 0 0 0 rg BT 428.88 190.10 Td (S-X ) Tj ET Q q 0 0 0 rg BT 447.13 190.10 Td (under ) Tj ET Q q 0 0 0 rg BT 472.04 190.10 Td (17 ) Tj ET Q q 0 0 0 rg BT 484.18 190.10 Td (C.F) Tj ET Q q 0 0 0 rg BT 498.11 190.10 Td (.R. ) Tj ET Q q 0 0 0 rg BT 511.91 190.10 Td (Part ) Tj ET Q q 0 0 0 rg BT 530.16 190.10 Td (210, ) Tj ET Q q 0 0 0 rg BT 549.80 190.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 90.17 178.10 Td (may ) Tj ET Q q 0 0 0 rg BT 108.68 178.10 Td (only ) Tj ET Q q 0 0 0 rg BT 127.75 178.10 Td (consolidate ) Tj ET Q q 0 0 0 rg BT 174.58 178.10 Td (its ) Tj ET Q q 0 0 0 rg BT 185.31 178.10 Td (interests ) Tj ET Q q 0 0 0 rg BT 219.93 178.10 Td (in ) Tj ET Q q 0 0 0 rg BT 228.99 178.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 274.16 178.10 Td (company ) Tj ET Q q 0 0 0 rg BT 312.11 178.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 360.61 178.10 Td (and ) Tj ET Q q 0 0 0 rg BT 376.34 178.10 Td (controlled ) Tj ET Q q 0 0 0 rg BT 418.17 178.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 457.22 178.10 Td (companies ) Tj ET Q q 0 0 0 rg BT 501.27 178.10 Td (whose ) Tj ET Q q 0 0 0 rg BT 528.11 178.10 Td (business ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.10 Td (consists ) Tj ET Q q 0 0 0 rg BT 84.75 166.10 Td (of ) Tj ET Q q 0 0 0 rg BT 96.17 166.10 Td (providing ) Tj ET Q q 0 0 0 rg BT 138.14 166.10 Td (services ) Tj ET Q q 0 0 0 rg BT 173.43 166.10 Td (to ) Tj ET Q q 0 0 0 rg BT 184.30 166.10 Td (the ) Tj ET Q q 0 0 0 rg BT 199.60 166.10 Td (Company) Tj ET Q q 0 0 0 rg BT 237.84 166.10 Td (. ) Tj ET Q q 0 0 0 rg BT 243.42 166.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 262.06 166.10 Td (wholly ) Tj ET Q q 0 0 0 rg BT 292.92 166.10 Td (owned ) Tj ET Q q 0 0 0 rg BT 322.67 166.10 Td (subsidiaries, ) Tj ET Q q 0 0 0 rg BT 375.24 166.10 Td (V) Tj ET Q q 0 0 0 rg BT 381.36 166.10 Td (entures ) Tj ET Q q 0 0 0 rg BT 413.32 166.10 Td (and ) Tj ET Q q 0 0 0 rg BT 430.84 166.10 Td (180BD, ) Tj ET Q q 0 0 0 rg BT 465.32 166.10 Td (are ) Tj ET Q q 0 0 0 rg BT 480.61 166.10 Td (controlled ) Tj ET Q q 0 0 0 rg BT 524.24 166.10 Td (operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.10 Td (companies ) Tj ET Q q 0 0 0 rg BT 95.56 154.10 Td (that ) Tj ET Q q 0 0 0 rg BT 113.35 154.10 Td (provide ) Tj ET Q q 0 0 0 rg BT 146.69 154.10 Td (services ) Tj ET Q q 0 0 0 rg BT 181.69 154.10 Td (to ) Tj ET Q q 0 0 0 rg BT 192.26 154.10 Td (us ) Tj ET Q q 0 0 0 rg BT 203.95 154.10 Td (and ) Tj ET Q q 0 0 0 rg BT 221.18 154.10 Td (are, ) Tj ET Q q 0 0 0 rg BT 238.68 154.10 Td (therefore, ) Tj ET Q q 0 0 0 rg BT 280.06 154.10 Td (consolidated. ) Tj ET Q q 0 0 0 rg BT 335.90 154.10 Td ( ) Tj ET Q q 0 0 0 rg BT 338.69 154.10 Td ( ) Tj ET Q q 0 0 0 rg BT 340.87 154.10 Td (All ) Tj ET Q q 0 0 0 rg BT 356.44 154.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 401.45 154.10 Td (intercompany ) Tj ET Q q 0 0 0 rg BT 459.22 154.10 Td (accounts ) Tj ET Q q 0 0 0 rg BT 497.00 154.10 Td (and ) Tj ET Q q 0 0 0 rg BT 514.24 154.10 Td (transactions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (have ) Tj ET Q q 0 0 0 rg BT 71.38 142.10 Td (been ) Tj ET Q q 0 0 0 rg BT 92.75 142.10 Td (eliminated ) Tj ET Q q 0 0 0 rg BT 137.46 142.10 Td (in ) Tj ET Q q 0 0 0 rg BT 147.74 142.10 Td (consolidation. ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 86 116.76699218750002 m 154.1103515625 116.76699218750002 l s q 0 0 0 rg BT 86.00 118.10 Td (Use ) Tj ET Q q 0 0 0 rg BT 102.98 118.10 Td (of ) Tj ET Q q 0 0 0 rg BT 112.73 118.10 Td (Estimates.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.11 118.10 Td ( ) Tj ET Q q 0 0 0 rg BT 155.43 118.10 Td (The ) Tj ET Q q 0 0 0 rg BT 172.40 118.10 Td (preparation ) Tj ET Q q 0 0 0 rg BT 219.36 118.10 Td (of ) Tj ET Q q 0 0 0 rg BT 229.11 118.10 Td (the ) Tj ET Q q 0 0 0 rg BT 242.75 118.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 294.72 118.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 331.12 118.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 374.75 118.10 Td (in ) Tj ET Q q 0 0 0 rg BT 383.96 118.10 Td (conformity ) Tj ET Q q 0 0 0 rg BT 429.81 118.10 Td (with ) Tj ET Q q 0 0 0 rg BT 449.01 118.10 Td (GAAP) Tj ET Q q 0 0 0 rg BT 475.87 118.10 Td ( ) Tj ET Q q 0 0 0 rg BT 477.29 118.10 Td (requires ) Tj ET Q q 0 0 0 rg BT 510.92 118.10 Td (management ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.10 Td (to ) Tj ET Q q 0 0 0 rg BT 60.53 106.10 Td (make ) Tj ET Q q 0 0 0 rg BT 84.94 106.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 124.90 106.10 Td (and ) Tj ET Q q 0 0 0 rg BT 142.09 106.10 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 194.29 106.10 Td (that ) Tj ET Q q 0 0 0 rg BT 212.04 106.10 Td (af) Tj ET Q q 0 0 0 rg BT 219.62 106.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 237.36 106.10 Td (the ) Tj ET Q q 0 0 0 rg BT 252.33 106.10 Td (reported ) Tj ET Q q 0 0 0 rg BT 288.40 106.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 325.03 106.10 Td (of ) Tj ET Q q 0 0 0 rg BT 336.12 106.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 362.20 106.10 Td (and ) Tj ET Q q 0 0 0 rg BT 379.39 106.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 419.36 106.10 Td (and ) Tj ET Q q 0 0 0 rg BT 436.55 106.10 Td (contingent ) Tj ET Q q 0 0 0 rg BT 481.51 106.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 507.59 106.10 Td (and ) Tj ET Q q 0 0 0 rg BT 524.78 106.10 Td (liabilities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.67 94.10 Td (the ) Tj ET Q q 0 0 0 rg BT 81.13 94.10 Td (reported ) Tj ET Q q 0 0 0 rg BT 116.68 94.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 152.80 94.10 Td (of ) Tj ET Q q 0 0 0 rg BT 163.37 94.10 Td (revenues ) Tj ET Q q 0 0 0 rg BT 201.14 94.10 Td (and ) Tj ET Q q 0 0 0 rg BT 217.82 94.10 Td (expenses. ) Tj ET Q q 0 0 0 rg BT 258.16 94.10 Td (Actual ) Tj ET Q q 0 0 0 rg BT 287.05 94.10 Td (results ) Tj ET Q q 0 0 0 rg BT 315.40 94.10 Td (could ) Tj ET Q q 0 0 0 rg BT 339.85 94.10 Td (dif) Tj ET Q q 0 0 0 rg BT 350.78 94.10 Td (fer ) Tj ET Q q 0 0 0 rg BT 364.11 94.10 Td (from ) Tj ET Q q 0 0 0 rg BT 385.79 94.10 Td (these ) Tj ET Q q 0 0 0 rg BT 408.57 94.10 Td (estimates, ) Tj ET Q q 0 0 0 rg BT 450.52 94.10 Td (and ) Tj ET Q q 0 0 0 rg BT 467.19 94.10 Td (the ) Tj ET Q q 0 0 0 rg BT 481.65 94.10 Td (dif) Tj ET Q q 0 0 0 rg BT 492.57 94.10 Td (ferences ) Tj ET Q q 0 0 0 rg BT 528.11 94.10 Td (could ) Tj ET Q q 0 0 0 rg BT 552.57 94.10 Td (be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.10 Td (material. ) Tj ET Q q 0 0 0 rg BT 87.58 82.10 Td (The ) Tj ET Q q 0 0 0 rg BT 105.63 82.10 Td (most ) Tj ET Q q 0 0 0 rg BT 127.57 82.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 172.29 82.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 212.00 82.10 Td (relate ) Tj ET Q q 0 0 0 rg BT 236.70 82.10 Td (to ) Tj ET Q q 0 0 0 rg BT 246.98 82.10 Td (the ) Tj ET Q q 0 0 0 rg BT 261.69 82.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 278.07 82.10 Td (valuations ) Tj ET Q q 0 0 0 rg BT 321.67 82.10 Td (of ) Tj ET Q q 0 0 0 rg BT 332.50 82.10 Td (our ) Tj ET Q q 0 0 0 rg BT 348.33 82.10 Td (investments. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 70.10 Td () Tj ET Q endstream endobj 49 0 obj <> endobj 50 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (24) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 86 740.7669921875 m 217.87744140625 740.7669921875 l s q 0 0 0 rg BT 86.00 742.10 Td (Portfolio ) Tj ET Q q 0 0 0 rg BT 125.28 742.10 Td (Investment ) Tj ET Q q 0 0 0 rg BT 173.16 742.10 Td (V) Tj ET Q q 0 0 0 rg BT 179.27 742.10 Td (aluations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.88 742.10 Td ( ) Tj ET Q q 0 0 0 rg BT 221.60 742.10 Td (Investments ) Tj ET Q q 0 0 0 rg BT 273.64 742.10 Td (are ) Tj ET Q q 0 0 0 rg BT 289.57 742.10 Td (stated ) Tj ET Q q 0 0 0 rg BT 316.61 742.10 Td (at ) Tj ET Q q 0 0 0 rg BT 327.55 742.10 Td ("value" ) Tj ET Q q 0 0 0 rg BT 361.09 742.10 Td (as ) Tj ET Q q 0 0 0 rg BT 373.14 742.10 Td (defined ) Tj ET Q q 0 0 0 rg BT 406.84 742.10 Td (in ) Tj ET Q q 0 0 0 rg BT 418.34 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 434.28 742.10 Td (1940 ) Tj ET Q q 0 0 0 rg BT 457.18 742.10 Td (Act ) Tj ET Q q 0 0 0 rg BT 475.34 742.10 Td (and ) Tj ET Q q 0 0 0 rg BT 493.49 742.10 Td (in ) Tj ET Q q 0 0 0 rg BT 504.99 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 520.93 742.10 Td (applicable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (regulations ) Tj ET Q q 0 0 0 rg BT 96.52 730.10 Td (of ) Tj ET Q q 0 0 0 rg BT 106.94 730.10 Td (the ) Tj ET Q q 0 0 0 rg BT 121.25 730.10 Td (SEC ) Tj ET Q q 0 0 0 rg BT 141.68 730.10 Td (and ) Tj ET Q q 0 0 0 rg BT 158.20 730.10 Td (in ) Tj ET Q q 0 0 0 rg BT 168.07 730.10 Td (accordance ) Tj ET Q q 0 0 0 rg BT 215.12 730.10 Td (with ) Tj ET Q q 0 0 0 rg BT 234.99 730.10 Td (GAAP) Tj ET Q q 0 0 0 rg BT 261.11 730.10 Td (. ) Tj ET Q q 0 0 0 rg BT 265.54 730.10 Td (V) Tj ET Q q 0 0 0 rg BT 271.66 730.10 Td (alue, ) Tj ET Q q 0 0 0 rg BT 292.90 730.10 Td (as ) Tj ET Q q 0 0 0 rg BT 303.32 730.10 Td (defined ) Tj ET Q q 0 0 0 rg BT 335.39 730.10 Td (in ) Tj ET Q q 0 0 0 rg BT 345.26 730.10 Td (Section ) Tj ET Q q 0 0 0 rg BT 377.34 730.10 Td (2\(a\)\(41\) ) Tj ET Q q 0 0 0 rg BT 412.19 730.10 Td (of ) Tj ET Q q 0 0 0 rg BT 422.61 730.10 Td (the ) Tj ET Q q 0 0 0 rg BT 436.92 730.10 Td (1940 ) Tj ET Q q 0 0 0 rg BT 458.54 730.10 Td (Act, ) Tj ET Q q 0 0 0 rg BT 477.57 730.10 Td (is ) Tj ET Q q 0 0 0 rg BT 486.33 730.10 Td (\(i\) ) Tj ET Q q 0 0 0 rg BT 497.86 730.10 Td (the ) Tj ET Q q 0 0 0 rg BT 512.16 730.10 Td (market ) Tj ET Q q 0 0 0 rg BT 542.02 730.10 Td (price ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (for ) Tj ET Q q 0 0 0 rg BT 63.75 718.10 Td (those ) Tj ET Q q 0 0 0 rg BT 86.95 718.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 126.81 718.10 Td (for ) Tj ET Q q 0 0 0 rg BT 140.56 718.10 Td (which ) Tj ET Q q 0 0 0 rg BT 167.09 718.10 Td (a ) Tj ET Q q 0 0 0 rg BT 173.62 718.10 Td (market ) Tj ET Q q 0 0 0 rg BT 203.48 718.10 Td (quotation ) Tj ET Q q 0 0 0 rg BT 243.34 718.10 Td (is ) Tj ET Q q 0 0 0 rg BT 252.11 718.10 Td (readily ) Tj ET Q q 0 0 0 rg BT 281.96 718.10 Td (available ) Tj ET Q q 0 0 0 rg BT 320.14 718.10 Td (and ) Tj ET Q q 0 0 0 rg BT 336.67 718.10 Td (\(ii\) ) Tj ET Q q 0 0 0 rg BT 350.98 718.10 Td (the ) Tj ET Q q 0 0 0 rg BT 365.29 718.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 381.26 718.10 Td (value ) Tj ET Q q 0 0 0 rg BT 405.01 718.10 Td (as ) Tj ET Q q 0 0 0 rg BT 415.43 718.10 Td (determined ) Tj ET Q q 0 0 0 rg BT 462.50 718.10 Td (in ) Tj ET Q q 0 0 0 rg BT 472.38 718.10 Td (good ) Tj ET Q q 0 0 0 rg BT 494.47 718.10 Td (faith ) Tj ET Q q 0 0 0 rg BT 514.89 718.10 Td (by) Tj ET Q q 0 0 0 rg BT 524.24 718.10 Td (, ) Tj ET Q q 0 0 0 rg BT 528.83 718.10 Td (or ) Tj ET Q q 0 0 0 rg BT 539.25 718.10 Td (under ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.66 706.10 Td (direction ) Tj ET Q q 0 0 0 rg BT 102.65 706.10 Td (of, ) Tj ET Q q 0 0 0 rg BT 115.92 706.10 Td (the ) Tj ET Q q 0 0 0 rg BT 130.59 706.10 Td (Board ) Tj ET Q q 0 0 0 rg BT 157.47 706.10 Td (of ) Tj ET Q q 0 0 0 rg BT 168.25 706.10 Td (Directors ) Tj ET Q q 0 0 0 rg BT 207.90 706.10 Td (for ) Tj ET Q q 0 0 0 rg BT 222.00 706.10 Td (all ) Tj ET Q q 0 0 0 rg BT 234.44 706.10 Td (other ) Tj ET Q q 0 0 0 rg BT 257.44 706.10 Td (assets. ) Tj ET Q q 0 0 0 rg BT 285.54 706.10 Td (The ) Tj ET Q q 0 0 0 rg BT 303.35 706.10 Td (V) Tj ET Q q 0 0 0 rg BT 309.46 706.10 Td (aluation ) Tj ET Q q 0 0 0 rg BT 344.12 706.10 Td (Committee, ) Tj ET Q q 0 0 0 rg BT 393.50 706.10 Td (comprised ) Tj ET Q q 0 0 0 rg BT 437.61 706.10 Td (of ) Tj ET Q q 0 0 0 rg BT 448.38 706.10 Td (all ) Tj ET Q q 0 0 0 rg BT 460.82 706.10 Td (of ) Tj ET Q q 0 0 0 rg BT 471.60 706.10 Td (the ) Tj ET Q q 0 0 0 rg BT 486.26 706.10 Td (independent ) Tj ET Q q 0 0 0 rg BT 537.58 706.10 Td (Board ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (members, ) Tj ET Q q 0 0 0 rg BT 91.57 694.10 Td (is ) Tj ET Q q 0 0 0 rg BT 100.66 694.10 Td (responsible ) Tj ET Q q 0 0 0 rg BT 148.62 694.10 Td (for ) Tj ET Q q 0 0 0 rg BT 162.70 694.10 Td (determining ) Tj ET Q q 0 0 0 rg BT 213.43 694.10 Td (the ) Tj ET Q q 0 0 0 rg BT 228.07 694.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 267.69 694.10 Td (of ) Tj ET Q q 0 0 0 rg BT 278.44 694.10 Td (the ) Tj ET Q q 0 0 0 rg BT 293.07 694.10 Td (Company) Tj ET Q q 0 0 0 rg BT 334.74 694.10 Td (s ) Tj ET Q q 0 0 0 rg BT 341.04 694.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 366.79 694.10 Td (within ) Tj ET Q q 0 0 0 rg BT 394.76 694.10 Td (the ) Tj ET Q q 0 0 0 rg BT 409.40 694.10 Td (guidelines ) Tj ET Q q 0 0 0 rg BT 452.92 694.10 Td (established ) Tj ET Q q 0 0 0 rg BT 499.77 694.10 Td (by ) Tj ET Q q 0 0 0 rg BT 512.18 694.10 Td (the ) Tj ET Q q 0 0 0 rg BT 526.81 694.10 Td (Board ) Tj ET Q q 0 0 0 rg BT 553.67 694.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (Directors. ) Tj ET Q q 0 0 0 rg BT 92.67 682.10 Td (The ) Tj ET Q q 0 0 0 rg BT 111.18 682.10 Td (V) Tj ET Q q 0 0 0 rg BT 117.29 682.10 Td (aluation ) Tj ET Q q 0 0 0 rg BT 152.70 682.10 Td (Committee ) Tj ET Q q 0 0 0 rg BT 200.33 682.10 Td (receives ) Tj ET Q q 0 0 0 rg BT 236.28 682.10 Td (information ) Tj ET Q q 0 0 0 rg BT 286.68 682.10 Td (and ) Tj ET Q q 0 0 0 rg BT 304.31 682.10 Td (recommendations ) Tj ET Q q 0 0 0 rg BT 378.60 682.10 Td (from ) Tj ET Q q 0 0 0 rg BT 401.23 682.10 Td (management. ) Tj ET Q q 0 0 0 rg BT 457.31 682.10 Td (An ) Tj ET Q q 0 0 0 rg BT 472.72 682.10 Td (independent ) Tj ET Q q 0 0 0 rg BT 524.79 682.10 Td (valuation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (firm ) Tj ET Q q 0 0 0 rg BT 69.67 670.10 Td (also ) Tj ET Q q 0 0 0 rg BT 88.23 670.10 Td (reviews ) Tj ET Q q 0 0 0 rg BT 121.78 670.10 Td (select ) Tj ET Q q 0 0 0 rg BT 146.99 670.10 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 184.44 670.10 Td (company ) Tj ET Q q 0 0 0 rg BT 223.54 670.10 Td (valuations. ) Tj ET Q q 0 0 0 rg BT 269.42 670.10 Td (The ) Tj ET Q q 0 0 0 rg BT 287.42 670.10 Td (independent ) Tj ET Q q 0 0 0 rg BT 338.74 670.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 378.41 670.10 Td (firm ) Tj ET Q q 0 0 0 rg BT 398.07 670.10 Td (does ) Tj ET Q q 0 0 0 rg BT 418.86 670.10 Td (not ) Tj ET Q q 0 0 0 rg BT 434.09 670.10 Td (provide ) Tj ET Q q 0 0 0 rg BT 467.08 670.10 Td (independent ) Tj ET Q q 0 0 0 rg BT 518.41 670.10 Td (valuations. ) Tj ET Q q 0 0 0 rg BT 564.51 670.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (The ) Tj ET Q q 0 0 0 rg BT 68.38 658.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 85.10 658.10 Td (values ) Tj ET Q q 0 0 0 rg BT 113.48 658.10 Td (assigned ) Tj ET Q q 0 0 0 rg BT 150.75 658.10 Td (to ) Tj ET Q q 0 0 0 rg BT 161.37 658.10 Td (these ) Tj ET Q q 0 0 0 rg BT 184.75 658.10 Td (investments ) Tj ET Q q 0 0 0 rg BT 235.36 658.10 Td (are ) Tj ET Q q 0 0 0 rg BT 250.40 658.10 Td (based ) Tj ET Q q 0 0 0 rg BT 276.01 658.10 Td (on ) Tj ET Q q 0 0 0 rg BT 288.84 658.10 Td (available ) Tj ET Q q 0 0 0 rg BT 327.77 658.10 Td (information ) Tj ET Q q 0 0 0 rg BT 377.82 658.10 Td (and ) Tj ET Q q 0 0 0 rg BT 395.09 658.10 Td (do ) Tj ET Q q 0 0 0 rg BT 407.93 658.10 Td (not ) Tj ET Q q 0 0 0 rg BT 423.54 658.10 Td (necessarily ) Tj ET Q q 0 0 0 rg BT 470.80 658.10 Td (represent ) Tj ET Q q 0 0 0 rg BT 510.28 658.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 547.00 658.10 Td (that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (might ) Tj ET Q q 0 0 0 rg BT 75.35 646.10 Td (ultimately ) Tj ET Q q 0 0 0 rg BT 117.92 646.10 Td (be ) Tj ET Q q 0 0 0 rg BT 129.37 646.10 Td (realized ) Tj ET Q q 0 0 0 rg BT 163.03 646.10 Td (when ) Tj ET Q q 0 0 0 rg BT 186.71 646.10 Td (that ) Tj ET Q q 0 0 0 rg BT 203.72 646.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 249.62 646.10 Td (is ) Tj ET Q q 0 0 0 rg BT 258.31 646.10 Td (sold, ) Tj ET Q q 0 0 0 rg BT 279.50 646.10 Td (as ) Tj ET Q q 0 0 0 rg BT 289.85 646.10 Td (such ) Tj ET Q q 0 0 0 rg BT 310.20 646.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 346.10 646.10 Td (depend ) Tj ET Q q 0 0 0 rg BT 377.00 646.10 Td (on ) Tj ET Q q 0 0 0 rg BT 389.01 646.10 Td (future ) Tj ET Q q 0 0 0 rg BT 414.91 646.10 Td (circumstances ) Tj ET Q q 0 0 0 rg BT 473.57 646.10 Td (and ) Tj ET Q q 0 0 0 rg BT 490.02 646.10 Td (cannot ) Tj ET Q q 0 0 0 rg BT 518.70 646.10 Td (reasonably ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (be ) Tj ET Q q 0 0 0 rg BT 62.12 634.10 Td (determined ) Tj ET Q q 0 0 0 rg BT 109.77 634.10 Td (until ) Tj ET Q q 0 0 0 rg BT 130.79 634.10 Td (the ) Tj ET Q q 0 0 0 rg BT 145.68 634.10 Td (individual ) Tj ET Q q 0 0 0 rg BT 188.91 634.10 Td (investments ) Tj ET Q q 0 0 0 rg BT 239.36 634.10 Td (are ) Tj ET Q q 0 0 0 rg BT 254.24 634.10 Td (actually ) Tj ET Q q 0 0 0 rg BT 288.57 634.10 Td (liquidated ) Tj ET Q q 0 0 0 rg BT 331.24 634.10 Td (or ) Tj ET Q q 0 0 0 rg BT 342.25 634.10 Td (become ) Tj ET Q q 0 0 0 rg BT 376.02 634.10 Td (readily ) Tj ET Q q 0 0 0 rg BT 406.46 634.10 Td (marketable. ) Tj ET Q q 0 0 0 rg BT 456.05 634.10 Td ( ) Tj ET Q q 0 0 0 rg BT 458.54 634.10 Td (The ) Tj ET Q q 0 0 0 rg BT 476.57 634.10 Td (V) Tj ET Q q 0 0 0 rg BT 482.68 634.10 Td (aluation ) Tj ET Q q 0 0 0 rg BT 517.57 634.10 Td (Committee ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (values ) Tj ET Q q 0 0 0 rg BT 77.86 622.10 Td (the ) Tj ET Q q 0 0 0 rg BT 92.39 622.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 139.28 622.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 185.47 622.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 211.11 622.10 Td (as ) Tj ET Q q 0 0 0 rg BT 221.75 622.10 Td (of ) Tj ET Q q 0 0 0 rg BT 232.39 622.10 Td (the ) Tj ET Q q 0 0 0 rg BT 246.92 622.10 Td (end ) Tj ET Q q 0 0 0 rg BT 263.67 622.10 Td (of ) Tj ET Q q 0 0 0 rg BT 274.31 622.10 Td (each ) Tj ET Q q 0 0 0 rg BT 294.94 622.10 Td (calendar ) Tj ET Q q 0 0 0 rg BT 331.11 622.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 361.74 622.10 Td (and ) Tj ET Q q 0 0 0 rg BT 378.49 622.10 Td (as ) Tj ET Q q 0 0 0 rg BT 389.13 622.10 Td (of ) Tj ET Q q 0 0 0 rg BT 399.77 622.10 Td (any ) Tj ET Q q 0 0 0 rg BT 416.52 622.10 Td (other ) Tj ET Q q 0 0 0 rg BT 439.38 622.10 Td (time ) Tj ET Q q 0 0 0 rg BT 459.46 622.10 Td (requested ) Tj ET Q q 0 0 0 rg BT 500.09 622.10 Td (by ) Tj ET Q q 0 0 0 rg BT 512.40 622.10 Td (the ) Tj ET Q q 0 0 0 rg BT 526.93 622.10 Td (Board ) Tj ET Q q 0 0 0 rg BT 553.68 622.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (Directors.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 586.10 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 135.19 586.10 Td (Standards ) Tj ET Q q 0 0 0 rg BT 177.17 586.10 Td (Codification ) Tj ET Q q 0 0 0 rg BT 229.52 586.10 Td (T) Tj ET Q q 0 0 0 rg BT 234.93 586.10 Td (opic ) Tj ET Q q 0 0 0 rg BT 254.68 586.10 Td (820, ) Tj ET Q q 0 0 0 rg BT 274.72 586.10 Td ("Fair ) Tj ET Q q 0 0 0 rg BT 297.27 586.10 Td (V) Tj ET Q q 0 0 0 rg BT 303.38 586.10 Td (alue ) Tj ET Q q 0 0 0 rg BT 322.58 586.10 Td (Measurements," ) Tj ET Q q 0 0 0 rg BT 390.01 586.10 Td (\("ASC ) Tj ET Q q 0 0 0 rg BT 419.42 586.10 Td (820"\) ) Tj ET Q q 0 0 0 rg BT 444.37 586.10 Td (defines ) Tj ET Q q 0 0 0 rg BT 475.78 586.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 492.20 586.10 Td (value ) Tj ET Q q 0 0 0 rg BT 516.39 586.10 Td (as ) Tj ET Q q 0 0 0 rg BT 527.26 586.10 Td (the ) Tj ET Q q 0 0 0 rg BT 542.02 586.10 Td (price ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (that ) Tj ET Q q 0 0 0 rg BT 67.80 574.10 Td (would ) Tj ET Q q 0 0 0 rg BT 95.60 574.10 Td (be ) Tj ET Q q 0 0 0 rg BT 107.84 574.10 Td (received ) Tj ET Q q 0 0 0 rg BT 144.50 574.10 Td (to ) Tj ET Q q 0 0 0 rg BT 155.08 574.10 Td (sell ) Tj ET Q q 0 0 0 rg BT 171.77 574.10 Td (an ) Tj ET Q q 0 0 0 rg BT 184.01 574.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 206.25 574.10 Td (or ) Tj ET Q q 0 0 0 rg BT 217.38 574.10 Td (paid ) Tj ET Q q 0 0 0 rg BT 237.40 574.10 Td (to ) Tj ET Q q 0 0 0 rg BT 247.98 574.10 Td (transfer ) Tj ET Q q 0 0 0 rg BT 281.32 574.10 Td (a ) Tj ET Q q 0 0 0 rg BT 288.56 574.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 322.47 574.10 Td (in ) Tj ET Q q 0 0 0 rg BT 333.05 574.10 Td (an ) Tj ET Q q 0 0 0 rg BT 345.29 574.10 Td (orderly ) Tj ET Q q 0 0 0 rg BT 376.97 574.10 Td (transaction ) Tj ET Q q 0 0 0 rg BT 423.64 574.10 Td (between ) Tj ET Q q 0 0 0 rg BT 459.76 574.10 Td (market ) Tj ET Q q 0 0 0 rg BT 490.33 574.10 Td (participants ) Tj ET Q q 0 0 0 rg BT 539.78 574.10 Td (at ) Tj ET Q q 0 0 0 rg BT 549.80 574.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (measurement ) Tj ET Q q 0 0 0 rg BT 106.86 562.10 Td (date ) Tj ET Q q 0 0 0 rg BT 127.06 562.10 Td (\(exit ) Tj ET Q q 0 0 0 rg BT 148.93 562.10 Td (price\). ) Tj ET Q q 0 0 0 rg BT 178.29 562.10 Td (It ) Tj ET Q q 0 0 0 rg BT 187.94 562.10 Td (applies ) Tj ET Q q 0 0 0 rg BT 219.81 562.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 237.23 562.10 Td (value ) Tj ET Q q 0 0 0 rg BT 262.43 562.10 Td (terminology ) Tj ET Q q 0 0 0 rg BT 314.86 562.10 Td (to ) Tj ET Q q 0 0 0 rg BT 326.18 562.10 Td (all ) Tj ET Q q 0 0 0 rg BT 339.72 562.10 Td (valuations ) Tj ET Q q 0 0 0 rg BT 384.37 562.10 Td (whereas ) Tj ET Q q 0 0 0 rg BT 420.67 562.10 Td (the ) Tj ET Q q 0 0 0 rg BT 436.44 562.10 Td (1940 ) Tj ET Q q 0 0 0 rg BT 459.20 562.10 Td (Act ) Tj ET Q q 0 0 0 rg BT 477.18 562.10 Td (applies ) Tj ET Q q 0 0 0 rg BT 509.05 562.10 Td (market ) Tj ET Q q 0 0 0 rg BT 540.36 562.10 Td (value ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (terminology ) Tj ET Q q 0 0 0 rg BT 101.38 550.10 Td (to ) Tj ET Q q 0 0 0 rg BT 111.66 550.10 Td (readily ) Tj ET Q q 0 0 0 rg BT 141.92 550.10 Td (marketable ) Tj ET Q q 0 0 0 rg BT 188.84 550.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 214.67 550.10 Td (and ) Tj ET Q q 0 0 0 rg BT 231.61 550.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 247.99 550.10 Td (value ) Tj ET Q q 0 0 0 rg BT 272.14 550.10 Td (terminology ) Tj ET Q q 0 0 0 rg BT 323.53 550.10 Td (to ) Tj ET Q q 0 0 0 rg BT 333.80 550.10 Td (other ) Tj ET Q q 0 0 0 rg BT 356.85 550.10 Td (assets.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 538.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 526.10 Td (The ) Tj ET Q q 0 0 0 rg BT 104.97 526.10 Td (main ) Tj ET Q q 0 0 0 rg BT 128.38 526.10 Td (approaches ) Tj ET Q q 0 0 0 rg BT 176.78 526.10 Td (to ) Tj ET Q q 0 0 0 rg BT 187.98 526.10 Td (measuring ) Tj ET Q q 0 0 0 rg BT 233.05 526.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 250.35 526.10 Td (value ) Tj ET Q q 0 0 0 rg BT 275.43 526.10 Td (utilized ) Tj ET Q q 0 0 0 rg BT 308.84 526.10 Td (are ) Tj ET Q q 0 0 0 rg BT 324.46 526.10 Td (the ) Tj ET Q q 0 0 0 rg BT 340.10 526.10 Td (market ) Tj ET Q q 0 0 0 rg BT 371.29 526.10 Td (approach, ) Tj ET Q q 0 0 0 rg BT 413.85 526.10 Td (the ) Tj ET Q q 0 0 0 rg BT 429.49 526.10 Td (income ) Tj ET Q q 0 0 0 rg BT 462.34 526.10 Td (approach ) Tj ET Q q 0 0 0 rg BT 502.41 526.10 Td (and ) Tj ET Q q 0 0 0 rg BT 520.27 526.10 Td (the ) Tj ET Q q 0 0 0 rg BT 535.90 526.10 Td (hybrid ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (approach.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 502.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 490.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 104 488.7669921875 m 195.642578125 488.7669921875 l s q 0 0 0 rg BT 104.00 490.10 Td (Market ) Tj ET Q q 0 0 0 rg BT 135.07 490.10 Td (Approach ) Tj ET Q q 0 0 0 rg BT 177.31 490.10 Td (\(M\):) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 195.64 490.10 Td ( ) Tj ET Q q 0 0 0 rg BT 198.25 490.10 Td (The ) Tj ET Q q 0 0 0 rg BT 216.61 490.10 Td (market ) Tj ET Q q 0 0 0 rg BT 247.19 490.10 Td (approach ) Tj ET Q q 0 0 0 rg BT 286.65 490.10 Td (focuses ) Tj ET Q q 0 0 0 rg BT 319.46 490.10 Td (on ) Tj ET Q q 0 0 0 rg BT 332.27 490.10 Td (inputs ) Tj ET Q q 0 0 0 rg BT 359.53 490.10 Td (and ) Tj ET Q q 0 0 0 rg BT 376.78 490.10 Td (not ) Tj ET Q q 0 0 0 rg BT 392.38 490.10 Td (techniques. ) Tj ET Q q 0 0 0 rg BT 440.25 490.10 Td (The ) Tj ET Q q 0 0 0 rg BT 458.61 490.10 Td (market ) Tj ET Q q 0 0 0 rg BT 489.19 490.10 Td (approach ) Tj ET Q q 0 0 0 rg BT 528.65 490.10 Td (may ) Tj ET Q q 0 0 0 rg BT 548.68 490.10 Td (use ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 478.10 Td (quantitative ) Tj ET Q q 0 0 0 rg BT 152.94 478.10 Td (inputs ) Tj ET Q q 0 0 0 rg BT 179.12 478.10 Td (such ) Tj ET Q q 0 0 0 rg BT 199.19 478.10 Td (as ) Tj ET Q q 0 0 0 rg BT 209.25 478.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 234.86 478.10 Td (and ) Tj ET Q q 0 0 0 rg BT 251.03 478.10 Td (other ) Tj ET Q q 0 0 0 rg BT 273.31 478.10 Td (relevant ) Tj ET Q q 0 0 0 rg BT 307.25 478.10 Td (information ) Tj ET Q q 0 0 0 rg BT 356.19 478.10 Td (generated ) Tj ET Q q 0 0 0 rg BT 396.79 478.10 Td (by ) Tj ET Q q 0 0 0 rg BT 408.52 478.10 Td (market ) Tj ET Q q 0 0 0 rg BT 438.02 478.10 Td (transactions ) Tj ET Q q 0 0 0 rg BT 487.52 478.10 Td (involving ) Tj ET Q q 0 0 0 rg BT 527.58 478.10 Td (identical ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 466.10 Td (or ) Tj ET Q q 0 0 0 rg BT 114.89 466.10 Td (comparable ) Tj ET Q q 0 0 0 rg BT 164.08 466.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 189.97 466.10 Td (or ) Tj ET Q q 0 0 0 rg BT 200.85 466.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 240.62 466.10 Td (and ) Tj ET Q q 0 0 0 rg BT 257.62 466.10 Td (the ) Tj ET Q q 0 0 0 rg BT 272.39 466.10 Td (values ) Tj ET Q q 0 0 0 rg BT 300.49 466.10 Td (of ) Tj ET Q q 0 0 0 rg BT 311.38 466.10 Td (market ) Tj ET Q q 0 0 0 rg BT 341.70 466.10 Td (multiples ) Tj ET Q q 0 0 0 rg BT 381.47 466.10 Td (derived ) Tj ET Q q 0 0 0 rg BT 414.01 466.10 Td (from ) Tj ET Q q 0 0 0 rg BT 436.01 466.10 Td (a ) Tj ET Q q 0 0 0 rg BT 443.00 466.10 Td (set ) Tj ET Q q 0 0 0 rg BT 456.66 466.10 Td (of ) Tj ET Q q 0 0 0 rg BT 467.55 466.10 Td (comparable ) Tj ET Q q 0 0 0 rg BT 516.74 466.10 Td (companies. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 454.10 Td (The ) Tj ET Q q 0 0 0 rg BT 121.81 454.10 Td (market ) Tj ET Q q 0 0 0 rg BT 151.83 454.10 Td (approach ) Tj ET Q q 0 0 0 rg BT 190.74 454.10 Td (may ) Tj ET Q q 0 0 0 rg BT 210.22 454.10 Td (also ) Tj ET Q q 0 0 0 rg BT 228.59 454.10 Td (use ) Tj ET Q q 0 0 0 rg BT 244.18 454.10 Td (qualitative ) Tj ET Q q 0 0 0 rg BT 288.65 454.10 Td (inputs ) Tj ET Q q 0 0 0 rg BT 315.36 454.10 Td (such ) Tj ET Q q 0 0 0 rg BT 335.96 454.10 Td (as ) Tj ET Q q 0 0 0 rg BT 346.55 454.10 Td (progress ) Tj ET Q q 0 0 0 rg BT 382.69 454.10 Td (toward ) Tj ET Q q 0 0 0 rg BT 412.72 454.10 Td (milestones, ) Tj ET Q q 0 0 0 rg BT 460.26 454.10 Td (the ) Tj ET Q q 0 0 0 rg BT 474.74 454.10 Td (long-term ) Tj ET Q q 0 0 0 rg BT 516.43 454.10 Td (potential ) Tj ET Q q 0 0 0 rg BT 553.69 454.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 442.10 Td (the ) Tj ET Q q 0 0 0 rg BT 119.15 442.10 Td (business, ) Tj ET Q q 0 0 0 rg BT 158.48 442.10 Td (current ) Tj ET Q q 0 0 0 rg BT 189.72 442.10 Td (and ) Tj ET Q q 0 0 0 rg BT 207.10 442.10 Td (future ) Tj ET Q q 0 0 0 rg BT 233.91 442.10 Td (financing ) Tj ET Q q 0 0 0 rg BT 274.60 442.10 Td (requirements ) Tj ET Q q 0 0 0 rg BT 329.74 442.10 Td (and ) Tj ET Q q 0 0 0 rg BT 347.11 442.10 Td (the ) Tj ET Q q 0 0 0 rg BT 362.26 442.10 Td (rights ) Tj ET Q q 0 0 0 rg BT 387.97 442.10 Td (and ) Tj ET Q q 0 0 0 rg BT 405.35 442.10 Td (preferences ) Tj ET Q q 0 0 0 rg BT 454.35 442.10 Td (of ) Tj ET Q q 0 0 0 rg BT 465.62 442.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 495.75 442.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 536.45 442.10 Td (versus ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 430.10 Td (those ) Tj ET Q q 0 0 0 rg BT 127.07 430.10 Td (of ) Tj ET Q q 0 0 0 rg BT 137.36 430.10 Td (other ) Tj ET Q q 0 0 0 rg BT 159.86 430.10 Td (securities. ) Tj ET Q q 0 0 0 rg BT 201.95 430.10 Td (The ) Tj ET Q q 0 0 0 rg BT 219.45 430.10 Td (selection ) Tj ET Q q 0 0 0 rg BT 256.95 430.10 Td (of ) Tj ET Q q 0 0 0 rg BT 267.24 430.10 Td (the ) Tj ET Q q 0 0 0 rg BT 281.42 430.10 Td (relevant ) Tj ET Q q 0 0 0 rg BT 315.58 430.10 Td (inputs ) Tj ET Q q 0 0 0 rg BT 341.99 430.10 Td (used ) Tj ET Q q 0 0 0 rg BT 362.28 430.10 Td (to ) Tj ET Q q 0 0 0 rg BT 372.02 430.10 Td (derive ) Tj ET Q q 0 0 0 rg BT 398.96 430.10 Td (value ) Tj ET Q q 0 0 0 rg BT 422.58 430.10 Td (under ) Tj ET Q q 0 0 0 rg BT 447.30 430.10 Td (the ) Tj ET Q q 0 0 0 rg BT 461.48 430.10 Td (market ) Tj ET Q q 0 0 0 rg BT 491.20 430.10 Td (approach ) Tj ET Q q 0 0 0 rg BT 529.81 430.10 Td (requires ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 418.10 Td (judgment ) Tj ET Q q 0 0 0 rg BT 144.27 418.10 Td (considering ) Tj ET Q q 0 0 0 rg BT 193.43 418.10 Td (factors ) Tj ET Q q 0 0 0 rg BT 223.14 418.10 Td (specific ) Tj ET Q q 0 0 0 rg BT 256.73 418.10 Td (to ) Tj ET Q q 0 0 0 rg BT 267.01 418.10 Td (the ) Tj ET Q q 0 0 0 rg BT 281.72 418.10 Td (significance ) Tj ET Q q 0 0 0 rg BT 332.54 418.10 Td (and ) Tj ET Q q 0 0 0 rg BT 349.47 418.10 Td (relevance ) Tj ET Q q 0 0 0 rg BT 390.27 418.10 Td (of ) Tj ET Q q 0 0 0 rg BT 401.10 418.10 Td (each ) Tj ET Q q 0 0 0 rg BT 421.92 418.10 Td (input ) Tj ET Q q 0 0 0 rg BT 444.98 418.10 Td (to ) Tj ET Q q 0 0 0 rg BT 455.25 418.10 Td (deriving ) Tj ET Q q 0 0 0 rg BT 491.08 418.10 Td (value.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 394.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 104 392.7669921875 m 188.59765625 392.7669921875 l s q 0 0 0 rg BT 104.00 394.10 Td (Income ) Tj ET Q q 0 0 0 rg BT 135.04 394.10 Td (Approach ) Tj ET Q q 0 0 0 rg BT 175.83 394.10 Td (\(I\):) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.60 394.10 Td ( ) Tj ET Q q 0 0 0 rg BT 189.86 394.10 Td (The ) Tj ET Q q 0 0 0 rg BT 206.76 394.10 Td (income ) Tj ET Q q 0 0 0 rg BT 237.55 394.10 Td (approach ) Tj ET Q q 0 0 0 rg BT 275.56 394.10 Td (focuses ) Tj ET Q q 0 0 0 rg BT 306.90 394.10 Td (on ) Tj ET Q q 0 0 0 rg BT 318.26 394.10 Td (techniques ) Tj ET Q q 0 0 0 rg BT 362.38 394.10 Td (and ) Tj ET Q q 0 0 0 rg BT 378.18 394.10 Td (not ) Tj ET Q q 0 0 0 rg BT 392.31 394.10 Td (inputs. ) Tj ET Q q 0 0 0 rg BT 420.52 394.10 Td (The ) Tj ET Q q 0 0 0 rg BT 437.42 394.10 Td (income ) Tj ET Q q 0 0 0 rg BT 468.22 394.10 Td (approach ) Tj ET Q q 0 0 0 rg BT 506.22 394.10 Td (uses ) Tj ET Q q 0 0 0 rg BT 524.80 394.10 Td (valuation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 382.10 Td (techniques ) Tj ET Q q 0 0 0 rg BT 148.65 382.10 Td (to ) Tj ET Q q 0 0 0 rg BT 158.31 382.10 Td (convert ) Tj ET Q q 0 0 0 rg BT 190.18 382.10 Td (future ) Tj ET Q q 0 0 0 rg BT 215.94 382.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 251.71 382.10 Td (\(for ) Tj ET Q q 0 0 0 rg BT 268.59 382.10 Td (example, ) Tj ET Q q 0 0 0 rg BT 306.85 382.10 Td (revenue, ) Tj ET Q q 0 0 0 rg BT 342.88 382.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 362.53 382.10 Td (flows ) Tj ET Q q 0 0 0 rg BT 386.64 382.10 Td (or ) Tj ET Q q 0 0 0 rg BT 396.85 382.10 Td (earnings\) ) Tj ET Q q 0 0 0 rg BT 435.94 382.10 Td (to ) Tj ET Q q 0 0 0 rg BT 445.61 382.10 Td (a ) Tj ET Q q 0 0 0 rg BT 451.93 382.10 Td (single ) Tj ET Q q 0 0 0 rg BT 477.70 382.10 Td (present ) Tj ET Q q 0 0 0 rg BT 508.46 382.10 Td (value ) Tj ET Q q 0 0 0 rg BT 532.00 382.10 Td (amount ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 370.10 Td (\(discounted\). ) Tj ET Q q 0 0 0 rg BT 159.19 370.10 Td (The ) Tj ET Q q 0 0 0 rg BT 177.64 370.10 Td (measurement ) Tj ET Q q 0 0 0 rg BT 233.86 370.10 Td (is ) Tj ET Q q 0 0 0 rg BT 243.44 370.10 Td (based ) Tj ET Q q 0 0 0 rg BT 269.12 370.10 Td (on ) Tj ET Q q 0 0 0 rg BT 282.03 370.10 Td (the ) Tj ET Q q 0 0 0 rg BT 297.16 370.10 Td (value ) Tj ET Q q 0 0 0 rg BT 321.72 370.10 Td (indicated ) Tj ET Q q 0 0 0 rg BT 361.28 370.10 Td (by ) Tj ET Q q 0 0 0 rg BT 374.19 370.10 Td (current ) Tj ET Q q 0 0 0 rg BT 405.42 370.10 Td (market ) Tj ET Q q 0 0 0 rg BT 436.09 370.10 Td (expectations ) Tj ET Q q 0 0 0 rg BT 488.98 370.10 Td (about ) Tj ET Q q 0 0 0 rg BT 514.11 370.10 Td (those ) Tj ET Q q 0 0 0 rg BT 538.13 370.10 Td (future ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 358.10 Td (amounts. ) Tj ET Q q 0 0 0 rg BT 143.08 358.10 Td (Those ) Tj ET Q q 0 0 0 rg BT 170.43 358.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 210.54 358.10 Td (techniques ) Tj ET Q q 0 0 0 rg BT 256.21 358.10 Td (include ) Tj ET Q q 0 0 0 rg BT 288.55 358.10 Td (present ) Tj ET Q q 0 0 0 rg BT 320.33 358.10 Td (value ) Tj ET Q q 0 0 0 rg BT 344.89 358.10 Td (techniques; ) Tj ET Q q 0 0 0 rg BT 393.34 358.10 Td (option-pricing ) Tj ET Q q 0 0 0 rg BT 453.46 358.10 Td (models, ) Tj ET Q q 0 0 0 rg BT 487.75 358.10 Td (such ) Tj ET Q q 0 0 0 rg BT 508.99 358.10 Td (as ) Tj ET Q q 0 0 0 rg BT 520.22 358.10 Td (the ) Tj ET Q q 0 0 0 rg BT 535.34 358.10 Td (Black-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 346.10 Td (Scholes-Merton ) Tj ET Q q 0 0 0 rg BT 170.50 346.10 Td (formula ) Tj ET Q q 0 0 0 rg BT 204.79 346.10 Td (\(a ) Tj ET Q q 0 0 0 rg BT 215.18 346.10 Td (closed-form ) Tj ET Q q 0 0 0 rg BT 266.12 346.10 Td (model\) ) Tj ET Q q 0 0 0 rg BT 297.08 346.10 Td (and ) Tj ET Q q 0 0 0 rg BT 314.14 346.10 Td (a ) Tj ET Q q 0 0 0 rg BT 321.21 346.10 Td (binomial ) Tj ET Q q 0 0 0 rg BT 359.39 346.10 Td (model ) Tj ET Q q 0 0 0 rg BT 387.01 346.10 Td (\(a ) Tj ET Q q 0 0 0 rg BT 397.40 346.10 Td (lattice ) Tj ET Q q 0 0 0 rg BT 424.46 346.10 Td (model\), ) Tj ET Q q 0 0 0 rg BT 457.91 346.10 Td (which ) Tj ET Q q 0 0 0 rg BT 484.98 346.10 Td (incorporate ) Tj ET Q q 0 0 0 rg BT 533.14 346.10 Td (present ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 334.10 Td (value ) Tj ET Q q 0 0 0 rg BT 128.47 334.10 Td (techniques; ) Tj ET Q q 0 0 0 rg BT 176.83 334.10 Td (and ) Tj ET Q q 0 0 0 rg BT 194.08 334.10 Td (the ) Tj ET Q q 0 0 0 rg BT 209.12 334.10 Td (multi-period ) Tj ET Q q 0 0 0 rg BT 261.92 334.10 Td (excess ) Tj ET Q q 0 0 0 rg BT 290.84 334.10 Td (earnings ) Tj ET Q q 0 0 0 rg BT 327.53 334.10 Td (method, ) Tj ET Q q 0 0 0 rg BT 362.84 334.10 Td (which ) Tj ET Q q 0 0 0 rg BT 390.10 334.10 Td (is ) Tj ET Q q 0 0 0 rg BT 399.59 334.10 Td (used ) Tj ET Q q 0 0 0 rg BT 420.73 334.10 Td (to ) Tj ET Q q 0 0 0 rg BT 431.33 334.10 Td (measure ) Tj ET Q q 0 0 0 rg BT 467.46 334.10 Td (the ) Tj ET Q q 0 0 0 rg BT 482.49 334.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 499.19 334.10 Td (value ) Tj ET Q q 0 0 0 rg BT 523.66 334.10 Td (of ) Tj ET Q q 0 0 0 rg BT 534.80 334.10 Td (certain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 322.10 Td (assets.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 298.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 104 296.7669921875 m 193.466796875 296.7669921875 l s q 0 0 0 rg BT 104.00 298.10 Td (Hybrid ) Tj ET Q q 0 0 0 rg BT 134.54 298.10 Td (Approach ) Tj ET Q q 0 0 0 rg BT 176.81 298.10 Td (\(H\):) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.47 298.10 Td ( ) Tj ET Q q 0 0 0 rg BT 196.10 298.10 Td (The ) Tj ET Q q 0 0 0 rg BT 214.48 298.10 Td (hybrid ) Tj ET Q q 0 0 0 rg BT 243.43 298.10 Td (approach ) Tj ET Q q 0 0 0 rg BT 282.91 298.10 Td (uses ) Tj ET Q q 0 0 0 rg BT 302.97 298.10 Td (elements ) Tj ET Q q 0 0 0 rg BT 341.35 298.10 Td (of ) Tj ET Q q 0 0 0 rg BT 352.51 298.10 Td (both ) Tj ET Q q 0 0 0 rg BT 373.13 298.10 Td (the ) Tj ET Q q 0 0 0 rg BT 388.18 298.10 Td (market ) Tj ET Q q 0 0 0 rg BT 418.78 298.10 Td (approach ) Tj ET Q q 0 0 0 rg BT 458.27 298.10 Td (and ) Tj ET Q q 0 0 0 rg BT 475.54 298.10 Td (the ) Tj ET Q q 0 0 0 rg BT 490.60 298.10 Td (income ) Tj ET Q q 0 0 0 rg BT 522.87 298.10 Td (approach. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 286.10 Td (The ) Tj ET Q q 0 0 0 rg BT 121.66 286.10 Td (hybrid ) Tj ET Q q 0 0 0 rg BT 149.89 286.10 Td (approach ) Tj ET Q q 0 0 0 rg BT 188.65 286.10 Td (calculates ) Tj ET Q q 0 0 0 rg BT 230.19 286.10 Td (values ) Tj ET Q q 0 0 0 rg BT 257.85 286.10 Td (using ) Tj ET Q q 0 0 0 rg BT 281.64 286.10 Td (the ) Tj ET Q q 0 0 0 rg BT 295.97 286.10 Td (market ) Tj ET Q q 0 0 0 rg BT 325.85 286.10 Td (and ) Tj ET Q q 0 0 0 rg BT 342.41 286.10 Td (income ) Tj ET Q q 0 0 0 rg BT 373.96 286.10 Td (approach, ) Tj ET Q q 0 0 0 rg BT 415.22 286.10 Td (individually) Tj ET Q q 0 0 0 rg BT 462.90 286.10 Td (. ) Tj ET Q q 0 0 0 rg BT 467.36 286.10 Td (The ) Tj ET Q q 0 0 0 rg BT 485.03 286.10 Td (resulting ) Tj ET Q q 0 0 0 rg BT 522.14 286.10 Td (values ) Tj ET Q q 0 0 0 rg BT 549.80 286.10 Td (are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 274.10 Td (then ) Tj ET Q q 0 0 0 rg BT 123.72 274.10 Td (distributed ) Tj ET Q q 0 0 0 rg BT 168.99 274.10 Td (among ) Tj ET Q q 0 0 0 rg BT 198.71 274.10 Td (the ) Tj ET Q q 0 0 0 rg BT 213.42 274.10 Td (share ) Tj ET Q q 0 0 0 rg BT 237.02 274.10 Td (classes ) Tj ET Q q 0 0 0 rg BT 267.29 274.10 Td (based ) Tj ET Q q 0 0 0 rg BT 292.56 274.10 Td (on ) Tj ET Q q 0 0 0 rg BT 305.06 274.10 Td (probability ) Tj ET Q q 0 0 0 rg BT 351.44 274.10 Td (of ) Tj ET Q q 0 0 0 rg BT 362.27 274.10 Td (exit ) Tj ET Q q 0 0 0 rg BT 379.77 274.10 Td (outcomes.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 250.10 Td (ASC ) Tj ET Q q 0 0 0 rg BT 107.77 250.10 Td (T) Tj ET Q q 0 0 0 rg BT 113.18 250.10 Td (opic ) Tj ET Q q 0 0 0 rg BT 132.90 250.10 Td (820 ) Tj ET Q q 0 0 0 rg BT 150.40 250.10 Td (classifies ) Tj ET Q q 0 0 0 rg BT 189.55 250.10 Td (the ) Tj ET Q q 0 0 0 rg BT 204.27 250.10 Td (inputs ) Tj ET Q q 0 0 0 rg BT 231.22 250.10 Td (used ) Tj ET Q q 0 0 0 rg BT 252.05 250.10 Td (to ) Tj ET Q q 0 0 0 rg BT 262.33 250.10 Td (measure ) Tj ET Q q 0 0 0 rg BT 298.14 250.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 314.52 250.10 Td (value ) Tj ET Q q 0 0 0 rg BT 338.68 250.10 Td (by ) Tj ET Q q 0 0 0 rg BT 351.18 250.10 Td (these ) Tj ET Q q 0 0 0 rg BT 374.22 250.10 Td (approaches ) Tj ET Q q 0 0 0 rg BT 421.70 250.10 Td (into ) Tj ET Q q 0 0 0 rg BT 439.75 250.10 Td (the ) Tj ET Q q 0 0 0 rg BT 454.47 250.10 Td (following ) Tj ET Q q 0 0 0 rg BT 495.86 250.10 Td (hierarchy:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 226.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 104 224.76699218750002 m 157.310546875 224.76699218750002 l s q 0 0 0 rg BT 104.00 226.10 Td (Level ) Tj ET Q q 0 0 0 rg BT 129.26 226.10 Td (1 ) Tj ET Q q 0 0 0 rg BT 136.76 226.10 Td (\(L1\):) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 157.31 226.10 Td ( ) Tj ET Q q 0 0 0 rg BT 159.81 226.10 Td (Unadjusted ) Tj ET Q q 0 0 0 rg BT 207.86 226.10 Td (quoted ) Tj ET Q q 0 0 0 rg BT 237.57 226.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 263.95 226.10 Td (in ) Tj ET Q q 0 0 0 rg BT 274.23 226.10 Td (active ) Tj ET Q q 0 0 0 rg BT 300.60 226.10 Td (markets ) Tj ET Q q 0 0 0 rg BT 334.76 226.10 Td (for ) Tj ET Q q 0 0 0 rg BT 348.92 226.10 Td (identical ) Tj ET Q q 0 0 0 rg BT 385.85 226.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 411.68 226.10 Td (or ) Tj ET Q q 0 0 0 rg BT 422.51 226.10 Td (liabilities;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 202.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 104 200.76699218750002 m 157.884765625 200.76699218750002 l s q 0 0 0 rg BT 104.00 202.10 Td (Level ) Tj ET Q q 0 0 0 rg BT 129.55 202.10 Td (2 ) Tj ET Q q 0 0 0 rg BT 137.34 202.10 Td (\(L2\):) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 157.88 202.10 Td ( ) Tj ET Q q 0 0 0 rg BT 160.67 202.10 Td (Inputs ) Tj ET Q q 0 0 0 rg BT 188.46 202.10 Td (other ) Tj ET Q q 0 0 0 rg BT 211.79 202.10 Td (than ) Tj ET Q q 0 0 0 rg BT 231.80 202.10 Td (quoted ) Tj ET Q q 0 0 0 rg BT 261.80 202.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 288.46 202.10 Td (included ) Tj ET Q q 0 0 0 rg BT 325.69 202.10 Td (within ) Tj ET Q q 0 0 0 rg BT 354.03 202.10 Td (Level ) Tj ET Q q 0 0 0 rg BT 379.58 202.10 Td (1 ) Tj ET Q q 0 0 0 rg BT 387.37 202.10 Td (that ) Tj ET Q q 0 0 0 rg BT 405.15 202.10 Td (are ) Tj ET Q q 0 0 0 rg BT 420.14 202.10 Td (observable ) Tj ET Q q 0 0 0 rg BT 466.25 202.10 Td (for ) Tj ET Q q 0 0 0 rg BT 480.69 202.10 Td (the ) Tj ET Q q 0 0 0 rg BT 495.70 202.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 517.92 202.10 Td (or ) Tj ET Q q 0 0 0 rg BT 529.04 202.10 Td (liability) Tj ET Q q 0 0 0 rg BT 559.50 202.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 190.10 Td (either ) Tj ET Q q 0 0 0 rg BT 129.25 190.10 Td (directly ) Tj ET Q q 0 0 0 rg BT 162.28 190.10 Td (or ) Tj ET Q q 0 0 0 rg BT 173.10 190.10 Td (indirectly) Tj ET Q q 0 0 0 rg BT 210.77 190.10 Td (. ) Tj ET Q q 0 0 0 rg BT 215.58 190.10 Td (These ) Tj ET Q q 0 0 0 rg BT 241.95 190.10 Td (include ) Tj ET Q q 0 0 0 rg BT 273.87 190.10 Td (quoted ) Tj ET Q q 0 0 0 rg BT 303.58 190.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 329.94 190.10 Td (in ) Tj ET Q q 0 0 0 rg BT 340.21 190.10 Td (active ) Tj ET Q q 0 0 0 rg BT 366.57 190.10 Td (markets ) Tj ET Q q 0 0 0 rg BT 400.72 190.10 Td (for ) Tj ET Q q 0 0 0 rg BT 414.87 190.10 Td (similar ) Tj ET Q q 0 0 0 rg BT 445.13 190.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 470.95 190.10 Td (or ) Tj ET Q q 0 0 0 rg BT 481.77 190.10 Td (liabilities, ) Tj ET Q q 0 0 0 rg BT 523.98 190.10 Td (or ) Tj ET Q q 0 0 0 rg BT 534.79 190.10 Td (quoted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 178.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 130.81 178.10 Td (for ) Tj ET Q q 0 0 0 rg BT 145.39 178.10 Td (identical ) Tj ET Q q 0 0 0 rg BT 182.75 178.10 Td (or ) Tj ET Q q 0 0 0 rg BT 194.01 178.10 Td (similar ) Tj ET Q q 0 0 0 rg BT 224.71 178.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 250.97 178.10 Td (or ) Tj ET Q q 0 0 0 rg BT 262.23 178.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 302.38 178.10 Td (in ) Tj ET Q q 0 0 0 rg BT 313.08 178.10 Td (markets ) Tj ET Q q 0 0 0 rg BT 347.67 178.10 Td (that ) Tj ET Q q 0 0 0 rg BT 365.59 178.10 Td (are ) Tj ET Q q 0 0 0 rg BT 380.73 178.10 Td (not ) Tj ET Q q 0 0 0 rg BT 396.43 178.10 Td (active, ) Tj ET Q q 0 0 0 rg BT 425.73 178.10 Td (or ) Tj ET Q q 0 0 0 rg BT 436.99 178.10 Td (inputs ) Tj ET Q q 0 0 0 rg BT 464.37 178.10 Td (other ) Tj ET Q q 0 0 0 rg BT 487.85 178.10 Td (than ) Tj ET Q q 0 0 0 rg BT 507.99 178.10 Td (quoted ) Tj ET Q q 0 0 0 rg BT 538.14 178.10 Td (prices ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 166.10 Td (that ) Tj ET Q q 0 0 0 rg BT 121.04 166.10 Td (are ) Tj ET Q q 0 0 0 rg BT 135.30 166.10 Td (observable ) Tj ET Q q 0 0 0 rg BT 180.66 166.10 Td (for ) Tj ET Q q 0 0 0 rg BT 194.37 166.10 Td (the ) Tj ET Q q 0 0 0 rg BT 208.64 166.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 230.12 166.10 Td (or ) Tj ET Q q 0 0 0 rg BT 240.50 166.10 Td (liability) Tj ET Q q 0 0 0 rg BT 270.96 166.10 Td (, ) Tj ET Q q 0 0 0 rg BT 275.51 166.10 Td (either ) Tj ET Q q 0 0 0 rg BT 300.32 166.10 Td (directly ) Tj ET Q q 0 0 0 rg BT 332.91 166.10 Td (or ) Tj ET Q q 0 0 0 rg BT 343.29 166.10 Td (indirectly) Tj ET Q q 0 0 0 rg BT 380.96 166.10 Td (, ) Tj ET Q q 0 0 0 rg BT 385.51 166.10 Td (for ) Tj ET Q q 0 0 0 rg BT 399.22 166.10 Td (substantially ) Tj ET Q q 0 0 0 rg BT 451.82 166.10 Td (the ) Tj ET Q q 0 0 0 rg BT 466.08 166.10 Td (full ) Tj ET Q q 0 0 0 rg BT 482.02 166.10 Td (term ) Tj ET Q q 0 0 0 rg BT 502.39 166.10 Td (of ) Tj ET Q q 0 0 0 rg BT 512.77 166.10 Td (the ) Tj ET Q q 0 0 0 rg BT 527.03 166.10 Td (financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 154.10 Td (instrument. ) Tj ET Q q 0 0 0 rg BT 151.59 154.10 Td (Level ) Tj ET Q q 0 0 0 rg BT 176.67 154.10 Td (2 ) Tj ET Q q 0 0 0 rg BT 183.98 154.10 Td (inputs ) Tj ET Q q 0 0 0 rg BT 210.75 154.10 Td (are ) Tj ET Q q 0 0 0 rg BT 225.27 154.10 Td (in ) Tj ET Q q 0 0 0 rg BT 235.37 154.10 Td (those ) Tj ET Q q 0 0 0 rg BT 258.79 154.10 Td (markets ) Tj ET Q q 0 0 0 rg BT 292.76 154.10 Td (for ) Tj ET Q q 0 0 0 rg BT 306.74 154.10 Td (which ) Tj ET Q q 0 0 0 rg BT 333.49 154.10 Td (there ) Tj ET Q q 0 0 0 rg BT 355.79 154.10 Td (are ) Tj ET Q q 0 0 0 rg BT 370.32 154.10 Td (few ) Tj ET Q q 0 0 0 rg BT 387.62 154.10 Td (transactions, ) Tj ET Q q 0 0 0 rg BT 440.20 154.10 Td (the ) Tj ET Q q 0 0 0 rg BT 454.73 154.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 480.93 154.10 Td (are ) Tj ET Q q 0 0 0 rg BT 495.45 154.10 Td (not ) Tj ET Q q 0 0 0 rg BT 510.54 154.10 Td (current, ) Tj ET Q q 0 0 0 rg BT 543.68 154.10 Td (little ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 142.10 Td (public ) Tj ET Q q 0 0 0 rg BT 131.35 142.10 Td (information ) Tj ET Q q 0 0 0 rg BT 180.92 142.10 Td (exists ) Tj ET Q q 0 0 0 rg BT 206.06 142.10 Td (or ) Tj ET Q q 0 0 0 rg BT 216.75 142.10 Td (instances ) Tj ET Q q 0 0 0 rg BT 255.76 142.10 Td (where ) Tj ET Q q 0 0 0 rg BT 282.54 142.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 308.78 142.10 Td (vary ) Tj ET Q q 0 0 0 rg BT 328.90 142.10 Td (substantially ) Tj ET Q q 0 0 0 rg BT 381.81 142.10 Td (over ) Tj ET Q q 0 0 0 rg BT 401.94 142.10 Td (time ) Tj ET Q q 0 0 0 rg BT 422.07 142.10 Td (or ) Tj ET Q q 0 0 0 rg BT 432.76 142.10 Td (among ) Tj ET Q q 0 0 0 rg BT 462.33 142.10 Td (brokered ) Tj ET Q q 0 0 0 rg BT 500.23 142.10 Td (market ) Tj ET Q q 0 0 0 rg BT 530.35 142.10 Td (makers; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 130.10 Td (and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 106.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 104 104.76699218750002 m 157.4619140625 104.76699218750002 l s q 0 0 0 rg BT 104.00 106.10 Td (Level ) Tj ET Q q 0 0 0 rg BT 129.34 106.10 Td (3 ) Tj ET Q q 0 0 0 rg BT 136.92 106.10 Td (\(L3\):) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 157.46 106.10 Td ( ) Tj ET Q q 0 0 0 rg BT 160.04 106.10 Td (Inputs ) Tj ET Q q 0 0 0 rg BT 187.61 106.10 Td (to ) Tj ET Q q 0 0 0 rg BT 197.97 106.10 Td (the ) Tj ET Q q 0 0 0 rg BT 212.76 106.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 252.55 106.10 Td (methodology ) Tj ET Q q 0 0 0 rg BT 307.90 106.10 Td (are ) Tj ET Q q 0 0 0 rg BT 322.68 106.10 Td (unobservable ) Tj ET Q q 0 0 0 rg BT 378.57 106.10 Td (and ) Tj ET Q q 0 0 0 rg BT 395.58 106.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 440.37 106.10 Td (to ) Tj ET Q q 0 0 0 rg BT 450.73 106.10 Td (the ) Tj ET Q q 0 0 0 rg BT 465.52 106.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 481.97 106.10 Td (value ) Tj ET Q q 0 0 0 rg BT 506.20 106.10 Td (measurement. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 94.10 Td (Unobservable ) Tj ET Q q 0 0 0 rg BT 162.30 94.10 Td (inputs ) Tj ET Q q 0 0 0 rg BT 189.51 94.10 Td (are ) Tj ET Q q 0 0 0 rg BT 204.48 94.10 Td (those ) Tj ET Q q 0 0 0 rg BT 228.36 94.10 Td (inputs ) Tj ET Q q 0 0 0 rg BT 255.57 94.10 Td (that ) Tj ET Q q 0 0 0 rg BT 273.33 94.10 Td (reflect ) Tj ET Q q 0 0 0 rg BT 301.62 94.10 Td (our ) Tj ET Q q 0 0 0 rg BT 317.72 94.10 Td (own ) Tj ET Q q 0 0 0 rg BT 337.70 94.10 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 389.91 94.10 Td (that ) Tj ET Q q 0 0 0 rg BT 407.67 94.10 Td (market ) Tj ET Q q 0 0 0 rg BT 438.20 94.10 Td (participants ) Tj ET Q q 0 0 0 rg BT 487.61 94.10 Td (would ) Tj ET Q q 0 0 0 rg BT 515.38 94.10 Td (use ) Tj ET Q q 0 0 0 rg BT 531.47 94.10 Td (to ) Tj ET Q q 0 0 0 rg BT 542.01 94.10 Td (price ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.00 82.10 Td (the ) Tj ET Q q 0 0 0 rg BT 118.72 82.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 140.66 82.10 Td (or ) Tj ET Q q 0 0 0 rg BT 151.49 82.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 185.09 82.10 Td (based ) Tj ET Q q 0 0 0 rg BT 210.36 82.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 232.86 82.10 Td (the ) Tj ET Q q 0 0 0 rg BT 247.58 82.10 Td (best ) Tj ET Q q 0 0 0 rg BT 266.19 82.10 Td (available ) Tj ET Q q 0 0 0 rg BT 304.78 82.10 Td (information.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 58.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 125.91 58.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 151.93 58.10 Td (and ) Tj ET Q q 0 0 0 rg BT 169.07 58.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 208.98 58.10 Td (are ) Tj ET Q q 0 0 0 rg BT 223.88 58.10 Td (classified ) Tj ET Q q 0 0 0 rg BT 264.34 58.10 Td (in ) Tj ET Q q 0 0 0 rg BT 274.81 58.10 Td (their ) Tj ET Q q 0 0 0 rg BT 295.83 58.10 Td (entirety ) Tj ET Q q 0 0 0 rg BT 329.07 58.10 Td (based ) Tj ET Q q 0 0 0 rg BT 354.54 58.10 Td (on ) Tj ET Q q 0 0 0 rg BT 367.23 58.10 Td (the ) Tj ET Q q 0 0 0 rg BT 382.14 58.10 Td (lowest ) Tj ET Q q 0 0 0 rg BT 410.95 58.10 Td (level ) Tj ET Q q 0 0 0 rg BT 433.08 58.10 Td (of ) Tj ET Q q 0 0 0 rg BT 444.10 58.10 Td (input ) Tj ET Q q 0 0 0 rg BT 467.35 58.10 Td (that ) Tj ET Q q 0 0 0 rg BT 485.04 58.10 Td (is ) Tj ET Q q 0 0 0 rg BT 494.41 58.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 539.32 58.10 Td (to ) Tj ET Q q 0 0 0 rg BT 549.79 58.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 46.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 66.38 46.10 Td (value ) Tj ET Q q 0 0 0 rg BT 90.53 46.10 Td (measurement ) Tj ET Q q 0 0 0 rg BT 146.34 46.10 Td (and ) Tj ET Q q 0 0 0 rg BT 163.28 46.10 Td (are ) Tj ET Q q 0 0 0 rg BT 177.99 46.10 Td (not ) Tj ET Q q 0 0 0 rg BT 193.27 46.10 Td (necessarily ) Tj ET Q q 0 0 0 rg BT 240.19 46.10 Td (an ) Tj ET Q q 0 0 0 rg BT 252.13 46.10 Td (indication ) Tj ET Q q 0 0 0 rg BT 294.62 46.10 Td (of ) Tj ET Q q 0 0 0 rg BT 305.45 46.10 Td (risks ) Tj ET Q q 0 0 0 rg BT 326.84 46.10 Td (associated ) Tj ET Q q 0 0 0 rg BT 370.43 46.10 Td (with ) Tj ET Q q 0 0 0 rg BT 390.71 46.10 Td (the ) Tj ET Q q 0 0 0 rg BT 405.43 46.10 Td (investment.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 451.81 46.10 Td ( ) Tj ET Q endstream endobj 51 0 obj <> endobj 52 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 742.10 Td (As ) Tj ET Q q 0 0 0 rg BT 101.56 742.10 Td (of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 112.39 742.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 172.92 742.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 192.92 742.10 Td (, ) Tj ET Q q 0 0 0 rg BT 199.86 742.10 Td (our ) Tj ET Q q 0 0 0 rg BT 217.64 742.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 257.07 742.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 303.72 742.10 Td (include ) Tj ET Q q 0 0 0 rg BT 337.60 742.10 Td (investments ) Tj ET Q q 0 0 0 rg BT 389.82 742.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 408.15 742.10 Td (valued ) Tj ET Q q 0 0 0 rg BT 439.25 742.10 Td (by ) Tj ET Q q 0 0 0 rg BT 453.69 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 470.36 742.10 Td (Board ) Tj ET Q q 0 0 0 rg BT 499.24 742.10 Td (of ) Tj ET Q q 0 0 0 rg BT 512.02 742.10 Td (Directors ) Tj ET Q q 0 0 0 rg BT 553.67 742.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td ($49,929,650) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 100.00 730.10 Td ( ) Tj ET Q q 0 0 0 rg BT 103.34 730.10 Td (and ) Tj ET Q q 0 0 0 rg BT 121.12 730.10 Td (one ) Tj ET Q q 0 0 0 rg BT 138.90 730.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 186.13 730.10 Td (valued ) Tj ET Q q 0 0 0 rg BT 216.13 730.10 Td (under ) Tj ET Q q 0 0 0 rg BT 242.24 730.10 Td (the ) Tj ET Q q 0 0 0 rg BT 257.80 730.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 286.13 730.10 Td (method ) Tj ET Q q 0 0 0 rg BT 319.47 730.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.03 730.10 Td ($246,229) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.53 730.10 Td (. ) Tj ET Q q 0 0 0 rg BT 373.13 730.10 Td (The ) Tj ET Q q 0 0 0 rg BT 392.02 730.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 409.24 730.10 Td (values ) Tj ET Q q 0 0 0 rg BT 438.13 730.10 Td (and ) Tj ET Q q 0 0 0 rg BT 455.91 730.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 484.25 730.10 Td (method ) Tj ET Q q 0 0 0 rg BT 517.58 730.10 Td (value ) Tj ET Q q 0 0 0 rg BT 542.58 730.10 Td (were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (determined ) Tj ET Q q 0 0 0 rg BT 97.64 718.10 Td (in ) Tj ET Q q 0 0 0 rg BT 108.07 718.10 Td (good ) Tj ET Q q 0 0 0 rg BT 130.72 718.10 Td (faith ) Tj ET Q q 0 0 0 rg BT 151.71 718.10 Td (by) Tj ET Q q 0 0 0 rg BT 161.06 718.10 Td (, ) Tj ET Q q 0 0 0 rg BT 166.21 718.10 Td (or ) Tj ET Q q 0 0 0 rg BT 177.20 718.10 Td (under ) Tj ET Q q 0 0 0 rg BT 202.62 718.10 Td (the ) Tj ET Q q 0 0 0 rg BT 217.49 718.10 Td (direction ) Tj ET Q q 0 0 0 rg BT 255.69 718.10 Td (of, ) Tj ET Q q 0 0 0 rg BT 269.17 718.10 Td (the ) Tj ET Q q 0 0 0 rg BT 284.05 718.10 Td (Board ) Tj ET Q q 0 0 0 rg BT 311.14 718.10 Td (of ) Tj ET Q q 0 0 0 rg BT 322.13 718.10 Td (Directors. ) Tj ET Q q 0 0 0 rg BT 364.49 718.10 Td ( ) Tj ET Q q 0 0 0 rg BT 366.95 718.10 Td (The ) Tj ET Q q 0 0 0 rg BT 385.15 718.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 401.69 718.10 Td (value ) Tj ET Q q 0 0 0 rg BT 426.00 718.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 458.65 718.10 Td (includes ) Tj ET Q q 0 0 0 rg BT 494.63 718.10 Td (the ) Tj ET Q q 0 0 0 rg BT 509.50 718.10 Td (values ) Tj ET Q q 0 0 0 rg BT 537.70 718.10 Td (of ) Tj ET Q q 0 0 0 rg BT 548.69 718.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (privately ) Tj ET Q q 0 0 0 rg BT 88.16 706.10 Td (held ) Tj ET Q q 0 0 0 rg BT 107.99 706.10 Td (investments ) Tj ET Q q 0 0 0 rg BT 158.38 706.10 Td (as ) Tj ET Q q 0 0 0 rg BT 169.33 706.10 Td (well ) Tj ET Q q 0 0 0 rg BT 189.16 706.10 Td (as ) Tj ET Q q 0 0 0 rg BT 200.11 706.10 Td (our ) Tj ET Q q 0 0 0 rg BT 216.05 706.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 239.78 706.10 Td (options ) Tj ET Q q 0 0 0 rg BT 271.84 706.10 Td (and ) Tj ET Q q 0 0 0 rg BT 288.90 706.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 328.71 706.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 352.44 706.10 Td (units ) Tj ET Q q 0 0 0 rg BT 374.50 706.10 Td (of ) Tj ET Q q 0 0 0 rg BT 385.26 706.10 Td (TheStreet, ) Tj ET Q q 0 0 0 rg BT 429.25 706.10 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 449.63 706.10 Td (and ) Tj ET Q q 0 0 0 rg BT 466.69 706.10 Td (our ) Tj ET Q q 0 0 0 rg BT 482.63 706.10 Td (warrants ) Tj ET Q q 0 0 0 rg BT 519.68 706.10 Td (of ) Tj ET Q q 0 0 0 rg BT 530.63 706.10 Td (OpGen, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 70.60 694.10 Td (which ) Tj ET Q q 0 0 0 rg BT 97.88 694.10 Td (are ) Tj ET Q q 0 0 0 rg BT 112.92 694.10 Td (publicly ) Tj ET Q q 0 0 0 rg BT 148.53 694.10 Td (traded ) Tj ET Q q 0 0 0 rg BT 176.35 694.10 Td (companies. ) Tj ET Q q 0 0 0 rg BT 224.45 694.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 242.84 694.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 289.56 694.10 Td (in ) Tj ET Q q 0 0 0 rg BT 299.55 694.10 Td (Accelerator ) Tj ET Q q 0 0 0 rg BT 349.01 694.10 Td (IV) Tj ET Q q 0 0 0 rg BT 358.65 694.10 Td (-New ) Tj ET Q q 0 0 0 rg BT 383.27 694.10 Td (Y) Tj ET Q q 0 0 0 rg BT 389.49 694.10 Td (ork ) Tj ET Q q 0 0 0 rg BT 405.66 694.10 Td (Corporation ) Tj ET Q q 0 0 0 rg BT 456.82 694.10 Td (is ) Tj ET Q q 0 0 0 rg BT 466.33 694.10 Td (accounted ) Tj ET Q q 0 0 0 rg BT 509.69 694.10 Td (for ) Tj ET Q q 0 0 0 rg BT 524.19 694.10 Td (under ) Tj ET Q q 0 0 0 rg BT 549.80 694.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 76.76 682.10 Td (method ) Tj ET Q q 0 0 0 rg BT 108.52 682.10 Td (of ) Tj ET Q q 0 0 0 rg BT 118.62 682.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 164.25 682.10 Td (as ) Tj ET Q q 0 0 0 rg BT 174.35 682.10 Td (it ) Tj ET Q q 0 0 0 rg BT 181.67 682.10 Td (represents ) Tj ET Q q 0 0 0 rg BT 223.97 682.10 Td (non-controlling ) Tj ET Q q 0 0 0 rg BT 287.95 682.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 319.15 682.10 Td (in ) Tj ET Q q 0 0 0 rg BT 328.69 682.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 368.22 682.10 Td (entities ) Tj ET Q q 0 0 0 rg BT 398.87 682.10 Td (that ) Tj ET Q q 0 0 0 rg BT 415.63 682.10 Td (provide ) Tj ET Q q 0 0 0 rg BT 447.94 682.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 493.59 682.10 Td (advisory ) Tj ET Q q 0 0 0 rg BT 529.79 682.10 Td (services ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (to ) Tj ET Q q 0 0 0 rg BT 60.49 670.10 Td (the ) Tj ET Q q 0 0 0 rg BT 75.41 670.10 Td (Company) Tj ET Q q 0 0 0 rg BT 113.65 670.10 Td (. ) Tj ET Q q 0 0 0 rg BT 118.85 670.10 Td (Under ) Tj ET Q q 0 0 0 rg BT 146.55 670.10 Td (the ) Tj ET Q q 0 0 0 rg BT 161.48 670.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 189.18 670.10 Td (method, ) Tj ET Q q 0 0 0 rg BT 224.38 670.10 Td (investments ) Tj ET Q q 0 0 0 rg BT 274.86 670.10 Td (are ) Tj ET Q q 0 0 0 rg BT 289.78 670.10 Td (carried ) Tj ET Q q 0 0 0 rg BT 320.24 670.10 Td (at ) Tj ET Q q 0 0 0 rg BT 330.16 670.10 Td (cost, ) Tj ET Q q 0 0 0 rg BT 351.48 670.10 Td (plus ) Tj ET Q q 0 0 0 rg BT 370.86 670.10 Td (or ) Tj ET Q q 0 0 0 rg BT 381.89 670.10 Td (minus ) Tj ET Q q 0 0 0 rg BT 409.05 670.10 Td (the ) Tj ET Q q 0 0 0 rg BT 423.97 670.10 Td (Company) Tj ET Q q 0 0 0 rg BT 465.64 670.10 Td (s ) Tj ET Q q 0 0 0 rg BT 472.24 670.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 499.94 670.10 Td (in ) Tj ET Q q 0 0 0 rg BT 510.43 670.10 Td (the ) Tj ET Q q 0 0 0 rg BT 525.35 670.10 Td (increases ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.93 658.10 Td (decreases ) Tj ET Q q 0 0 0 rg BT 107.73 658.10 Td (in ) Tj ET Q q 0 0 0 rg BT 118.00 658.10 Td (the ) Tj ET Q q 0 0 0 rg BT 132.71 658.10 Td (investee) Tj ET Q q 0 0 0 rg BT 168.25 658.10 Td (s ) Tj ET Q q 0 0 0 rg BT 174.64 658.10 Td (net ) Tj ET Q q 0 0 0 rg BT 189.35 658.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 215.17 658.10 Td (after ) Tj ET Q q 0 0 0 rg BT 235.98 658.10 Td (the ) Tj ET Q q 0 0 0 rg BT 250.69 658.10 Td (date ) Tj ET Q q 0 0 0 rg BT 269.83 658.10 Td (of ) Tj ET Q q 0 0 0 rg BT 280.66 658.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 327.03 658.10 Td (and ) Tj ET Q q 0 0 0 rg BT 343.96 658.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 373.66 658.10 Td (other ) Tj ET Q q 0 0 0 rg BT 396.70 658.10 Td (adjustments. ) Tj ET Q q 0 0 0 rg BT 449.28 658.10 Td (The ) Tj ET Q q 0 0 0 rg BT 467.32 658.10 Td (Company) Tj ET Q q 0 0 0 rg BT 508.99 658.10 Td (s ) Tj ET Q q 0 0 0 rg BT 515.37 658.10 Td (share ) Tj ET Q q 0 0 0 rg BT 538.96 658.10 Td (of ) Tj ET Q q 0 0 0 rg BT 549.79 658.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (net ) Tj ET Q q 0 0 0 rg BT 65.22 646.10 Td (income ) Tj ET Q q 0 0 0 rg BT 97.65 646.10 Td (or ) Tj ET Q q 0 0 0 rg BT 108.99 646.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 127.55 646.10 Td (of ) Tj ET Q q 0 0 0 rg BT 138.88 646.10 Td (the ) Tj ET Q q 0 0 0 rg BT 154.10 646.10 Td (investee ) Tj ET Q q 0 0 0 rg BT 189.87 646.10 Td (is ) Tj ET Q q 0 0 0 rg BT 199.54 646.10 Td (included ) Tj ET Q q 0 0 0 rg BT 236.97 646.10 Td (in ) Tj ET Q q 0 0 0 rg BT 247.75 646.10 Td ("Share ) Tj ET Q q 0 0 0 rg BT 277.61 646.10 Td (of ) Tj ET Q q 0 0 0 rg BT 288.94 646.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 307.50 646.10 Td (on ) Tj ET Q q 0 0 0 rg BT 320.50 646.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 348.50 646.10 Td (method ) Tj ET Q q 0 0 0 rg BT 381.50 646.10 Td (investment" ) Tj ET Q q 0 0 0 rg BT 432.46 646.10 Td (on ) Tj ET Q q 0 0 0 rg BT 445.47 646.10 Td (the ) Tj ET Q q 0 0 0 rg BT 460.68 646.10 Td (Company) Tj ET Q q 0 0 0 rg BT 502.35 646.10 Td (s ) Tj ET Q q 0 0 0 rg BT 509.24 646.10 Td (Consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (Statement ) Tj ET Q q 0 0 0 rg BT 92.92 634.10 Td (of ) Tj ET Q q 0 0 0 rg BT 104.18 634.10 Td (Operations. ) Tj ET Q q 0 0 0 rg BT 153.49 634.10 Td (Upon ) Tj ET Q q 0 0 0 rg BT 178.64 634.10 Td (sale ) Tj ET Q q 0 0 0 rg BT 197.12 634.10 Td (of ) Tj ET Q q 0 0 0 rg BT 208.38 634.10 Td (investments, ) Tj ET Q q 0 0 0 rg BT 261.59 634.10 Td (the ) Tj ET Q q 0 0 0 rg BT 276.74 634.10 Td (values ) Tj ET Q q 0 0 0 rg BT 305.21 634.10 Td (that ) Tj ET Q q 0 0 0 rg BT 323.14 634.10 Td (are ) Tj ET Q q 0 0 0 rg BT 338.28 634.10 Td (ultimately ) Tj ET Q q 0 0 0 rg BT 381.76 634.10 Td (realized ) Tj ET Q q 0 0 0 rg BT 416.33 634.10 Td (may ) Tj ET Q q 0 0 0 rg BT 436.48 634.10 Td (be ) Tj ET Q q 0 0 0 rg BT 448.85 634.10 Td (dif) Tj ET Q q 0 0 0 rg BT 459.77 634.10 Td (ferent ) Tj ET Q q 0 0 0 rg BT 486.02 634.10 Td (from ) Tj ET Q q 0 0 0 rg BT 508.39 634.10 Td (the ) Tj ET Q q 0 0 0 rg BT 523.54 634.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 540.35 634.10 Td (value ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (presented ) Tj ET Q q 0 0 0 rg BT 90.82 622.10 Td (in ) Tj ET Q q 0 0 0 rg BT 101.09 622.10 Td (the ) Tj ET Q q 0 0 0 rg BT 115.81 622.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 162.89 622.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 200.37 622.10 Td (statements. ) Tj ET Q q 0 0 0 rg BT 247.40 622.10 Td (The ) Tj ET Q q 0 0 0 rg BT 265.45 622.10 Td (dif) Tj ET Q q 0 0 0 rg BT 276.38 622.10 Td (ference ) Tj ET Q q 0 0 0 rg BT 308.29 622.10 Td (could ) Tj ET Q q 0 0 0 rg BT 333.01 622.10 Td (be ) Tj ET Q q 0 0 0 rg BT 344.95 622.10 Td (material. ) Tj ET Q q 0 0 0 rg BT 382.71 622.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 86 596.7669921875 m 108.5 596.7669921875 l s q 0 0 0 rg BT 86.00 598.10 Td (Cash.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.50 598.10 Td ( ) Tj ET Q q 0 0 0 rg BT 111.00 598.10 Td (Cash ) Tj ET Q q 0 0 0 rg BT 133.50 598.10 Td (includes ) Tj ET Q q 0 0 0 rg BT 169.33 598.10 Td (demand ) Tj ET Q q 0 0 0 rg BT 203.48 598.10 Td (deposits. ) Tj ET Q q 0 0 0 rg BT 241.26 598.10 Td (Cash ) Tj ET Q q 0 0 0 rg BT 263.76 598.10 Td (is ) Tj ET Q q 0 0 0 rg BT 272.93 598.10 Td (carried ) Tj ET Q q 0 0 0 rg BT 303.18 598.10 Td (at ) Tj ET Q q 0 0 0 rg BT 312.90 598.10 Td (cost, ) Tj ET Q q 0 0 0 rg BT 334.01 598.10 Td (which ) Tj ET Q q 0 0 0 rg BT 360.95 598.10 Td (approximates ) Tj ET Q q 0 0 0 rg BT 417.32 598.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 433.70 598.10 Td (value.) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 86 572.7669921875 m 151.06494140625 572.7669921875 l s q 0 0 0 rg BT 86.00 574.10 Td (Restricted ) Tj ET Q q 0 0 0 rg BT 128.56 574.10 Td (Cash.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.06 574.10 Td ( ) Tj ET Q q 0 0 0 rg BT 152.64 574.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 164.66 574.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 222.77 574.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.77 574.10 Td (, ) Tj ET Q q 0 0 0 rg BT 247.29 574.10 Td (we ) Tj ET Q q 0 0 0 rg BT 260.98 574.10 Td (held ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.22 574.10 Td ($46,151) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.72 574.10 Td ( ) Tj ET Q q 0 0 0 rg BT 314.74 574.10 Td (in ) Tj ET Q q 0 0 0 rg BT 324.54 574.10 Td ("Restricted ) Tj ET Q q 0 0 0 rg BT 371.19 574.10 Td (cash", ) Tj ET Q q 0 0 0 rg BT 397.56 574.10 Td (as ) Tj ET Q q 0 0 0 rg BT 407.91 574.10 Td (security ) Tj ET Q q 0 0 0 rg BT 441.59 574.10 Td (deposits ) Tj ET Q q 0 0 0 rg BT 476.39 574.10 Td (for ) Tj ET Q q 0 0 0 rg BT 490.08 574.10 Td (a ) Tj ET Q q 0 0 0 rg BT 496.54 574.10 Td (sub-lease. ) Tj ET Q q 0 0 0 rg BT 538.12 574.10 Td (These ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (funds ) Tj ET Q q 0 0 0 rg BT 74.72 562.10 Td (are ) Tj ET Q q 0 0 0 rg BT 89.43 562.10 Td (not ) Tj ET Q q 0 0 0 rg BT 104.71 562.10 Td (considered ) Tj ET Q q 0 0 0 rg BT 150.52 562.10 Td (part ) Tj ET Q q 0 0 0 rg BT 168.57 562.10 Td (of ) Tj ET Q q 0 0 0 rg BT 179.40 562.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 219.66 562.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 239.93 562.10 Td (of ) Tj ET Q q 0 0 0 rg BT 250.76 562.10 Td (the ) Tj ET Q q 0 0 0 rg BT 265.48 562.10 Td (Company) Tj ET Q q 0 0 0 rg BT 303.72 562.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td () Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 86 536.7669921875 m 219.33740234375 536.7669921875 l s q 0 0 0 rg BT 86.00 538.10 Td (Unaf) Tj ET Q q 0 0 0 rg BT 105.81 538.10 Td (filiated ) Tj ET Q q 0 0 0 rg BT 137.44 538.10 Td (Rights ) Tj ET Q q 0 0 0 rg BT 166.86 538.10 Td (to ) Tj ET Q q 0 0 0 rg BT 177.95 538.10 Td (Payments.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.34 538.10 Td ( ) Tj ET Q q 0 0 0 rg BT 221.92 538.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.22 538.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 294.62 538.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.62 538.10 Td (, ) Tj ET Q q 0 0 0 rg BT 320.42 538.10 Td (the ) Tj ET Q q 0 0 0 rg BT 335.95 538.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 385.92 538.10 Td (potential ) Tj ET Q q 0 0 0 rg BT 424.22 538.10 Td (milestone ) Tj ET Q q 0 0 0 rg BT 466.41 538.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 508.04 538.10 Td (from ) Tj ET Q q 0 0 0 rg BT 530.06 538.10 Td (Amgen, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (Inc.) Tj ET Q q 0 0 0 rg BT 68.05 526.10 Td (s ) Tj ET Q q 0 0 0 rg BT 74.03 526.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 120.00 526.10 Td (of ) Tj ET Q q 0 0 0 rg BT 130.41 526.10 Td (BioV) Tj ET Q q 0 0 0 rg BT 150.97 526.10 Td (ex ) Tj ET Q q 0 0 0 rg BT 162.50 526.10 Td (Group, ) Tj ET Q q 0 0 0 rg BT 192.64 526.10 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 212.50 526.10 Td (were ) Tj ET Q q 0 0 0 rg BT 234.01 526.10 Td (valued ) Tj ET Q q 0 0 0 rg BT 262.75 526.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.06 526.10 Td ($2,019,283) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.06 526.10 Td (. ) Tj ET Q q 0 0 0 rg BT 321.49 526.10 Td (The ) Tj ET Q q 0 0 0 rg BT 339.13 526.10 Td (milestone ) Tj ET Q q 0 0 0 rg BT 380.10 526.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 420.51 526.10 Td (are ) Tj ET Q q 0 0 0 rg BT 434.81 526.10 Td (derivatives ) Tj ET Q q 0 0 0 rg BT 480.76 526.10 Td (and ) Tj ET Q q 0 0 0 rg BT 497.29 526.10 Td (valued ) Tj ET Q q 0 0 0 rg BT 526.03 526.10 Td (using ) Tj ET Q q 0 0 0 rg BT 549.79 526.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (probability-adjusted, ) Tj ET Q q 0 0 0 rg BT 136.00 514.10 Td (present ) Tj ET Q q 0 0 0 rg BT 167.84 514.10 Td (value ) Tj ET Q q 0 0 0 rg BT 192.47 514.10 Td (of ) Tj ET Q q 0 0 0 rg BT 203.76 514.10 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 242.26 514.10 Td (from ) Tj ET Q q 0 0 0 rg BT 264.67 514.10 Td (future ) Tj ET Q q 0 0 0 rg BT 291.51 514.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 332.80 514.10 Td (that ) Tj ET Q q 0 0 0 rg BT 350.76 514.10 Td (would ) Tj ET Q q 0 0 0 rg BT 378.73 514.10 Td (be ) Tj ET Q q 0 0 0 rg BT 391.13 514.10 Td (due ) Tj ET Q q 0 0 0 rg BT 408.53 514.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 431.50 514.10 Td (successful ) Tj ET Q q 0 0 0 rg BT 475.56 514.10 Td (completion ) Tj ET Q q 0 0 0 rg BT 523.52 514.10 Td (of ) Tj ET Q q 0 0 0 rg BT 534.81 514.10 Td (certain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 93.59 502.10 Td (and ) Tj ET Q q 0 0 0 rg BT 110.53 502.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 132.47 502.10 Td (milestones. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 478.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.35 478.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 158.79 478.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.79 478.10 Td (, ) Tj ET Q q 0 0 0 rg BT 184.64 478.10 Td (the ) Tj ET Q q 0 0 0 rg BT 200.21 478.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 250.23 478.10 Td (potential ) Tj ET Q q 0 0 0 rg BT 288.58 478.10 Td (rights ) Tj ET Q q 0 0 0 rg BT 314.71 478.10 Td (to ) Tj ET Q q 0 0 0 rg BT 325.84 478.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 367.52 478.10 Td (from ) Tj ET Q q 0 0 0 rg BT 390.31 478.10 Td (Xenio ) Tj ET Q q 0 0 0 rg BT 418.10 478.10 Td (Holdings, ) Tj ET Q q 0 0 0 rg BT 460.63 478.10 Td (Inc.'s ) Tj ET Q q 0 0 0 rg BT 484.94 478.10 Td (mer) Tj ET Q q 0 0 0 rg BT 500.31 478.10 Td (ger ) Tj ET Q q 0 0 0 rg BT 516.43 478.10 Td (with ) Tj ET Q q 0 0 0 rg BT 537.56 478.10 Td (Xenio ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (Systems, ) Tj ET Q q 0 0 0 rg BT 88.34 466.10 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 108.61 466.10 Td (were ) Tj ET Q q 0 0 0 rg BT 130.54 466.10 Td (valued ) Tj ET Q q 0 0 0 rg BT 159.69 466.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.41 466.10 Td ($0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 179.41 466.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 86 440.7669921875 m 158.45849609375 440.7669921875 l s q 0 0 0 rg BT 86.00 442.10 Td (Prepaid ) Tj ET Q q 0 0 0 rg BT 118.19 442.10 Td (Expenses.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.46 442.10 Td ( ) Tj ET Q q 0 0 0 rg BT 159.98 442.10 Td (W) Tj ET Q q 0 0 0 rg BT 168.62 442.10 Td (e ) Tj ET Q q 0 0 0 rg BT 174.70 442.10 Td (include ) Tj ET Q q 0 0 0 rg BT 205.78 442.10 Td (prepaid ) Tj ET Q q 0 0 0 rg BT 237.41 442.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 277.37 442.10 Td (premiums ) Tj ET Q q 0 0 0 rg BT 319.00 442.10 Td (and ) Tj ET Q q 0 0 0 rg BT 335.09 442.10 Td (deferred ) Tj ET Q q 0 0 0 rg BT 370.03 442.10 Td (financing ) Tj ET Q q 0 0 0 rg BT 409.44 442.10 Td (char) Tj ET Q q 0 0 0 rg BT 426.47 442.10 Td (ges ) Tj ET Q q 0 0 0 rg BT 441.44 442.10 Td (in ) Tj ET Q q 0 0 0 rg BT 450.86 442.10 Td ("Prepaid ) Tj ET Q q 0 0 0 rg BT 487.13 442.10 Td (expenses." ) Tj ET Q q 0 0 0 rg BT 531.46 442.10 Td (Prepaid ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 89.66 430.10 Td (premiums ) Tj ET Q q 0 0 0 rg BT 131.00 430.10 Td (are ) Tj ET Q q 0 0 0 rg BT 144.56 430.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 189.77 430.10 Td (over ) Tj ET Q q 0 0 0 rg BT 208.88 430.10 Td (the ) Tj ET Q q 0 0 0 rg BT 222.45 430.10 Td (term ) Tj ET Q q 0 0 0 rg BT 242.12 430.10 Td (of ) Tj ET Q q 0 0 0 rg BT 251.79 430.10 Td (the ) Tj ET Q q 0 0 0 rg BT 265.36 430.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 305.02 430.10 Td (contract ) Tj ET Q q 0 0 0 rg BT 338.57 430.10 Td (and ) Tj ET Q q 0 0 0 rg BT 354.35 430.10 Td (are ) Tj ET Q q 0 0 0 rg BT 367.91 430.10 Td (included ) Tj ET Q q 0 0 0 rg BT 403.69 430.10 Td (in ) Tj ET Q q 0 0 0 rg BT 412.81 430.10 Td ("Insurance ) Tj ET Q q 0 0 0 rg BT 457.11 430.10 Td (expense" ) Tj ET Q q 0 0 0 rg BT 494.74 430.10 Td (in ) Tj ET Q q 0 0 0 rg BT 503.87 430.10 Td (the ) Tj ET Q q 0 0 0 rg BT 517.43 430.10 Td (Company's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 105.27 418.10 Td (Statement ) Tj ET Q q 0 0 0 rg BT 147.76 418.10 Td (of ) Tj ET Q q 0 0 0 rg BT 158.59 418.10 Td (Operations. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 406.10 Td () Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 86 392.7669921875 m 183.8759765625 392.7669921875 l s q 0 0 0 rg BT 86.00 394.10 Td (Property ) Tj ET Q q 0 0 0 rg BT 121.75 394.10 Td (and ) Tj ET Q q 0 0 0 rg BT 137.49 394.10 Td (Equipment.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.88 394.10 Td ( ) Tj ET Q q 0 0 0 rg BT 185.18 394.10 Td ( ) Tj ET Q q 0 0 0 rg BT 186.49 394.10 Td (Property ) Tj ET Q q 0 0 0 rg BT 222.24 394.10 Td (and ) Tj ET Q q 0 0 0 rg BT 237.99 394.10 Td (equipment ) Tj ET Q q 0 0 0 rg BT 281.51 394.10 Td (are ) Tj ET Q q 0 0 0 rg BT 295.02 394.10 Td (included ) Tj ET Q q 0 0 0 rg BT 330.77 394.10 Td (in ) Tj ET Q q 0 0 0 rg BT 339.85 394.10 Td ("Other ) Tj ET Q q 0 0 0 rg BT 368.01 394.10 Td (assets" ) Tj ET Q q 0 0 0 rg BT 396.73 394.10 Td (and ) Tj ET Q q 0 0 0 rg BT 412.48 394.10 Td (are ) Tj ET Q q 0 0 0 rg BT 426.00 394.10 Td (carried ) Tj ET Q q 0 0 0 rg BT 455.06 394.10 Td (at ) Tj ET Q q 0 0 0 rg BT 463.58 394.10 Td ($18,269 ) Tj ET Q q 0 0 0 rg BT 497.39 394.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.92 394.10 Td (December31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 382.10 Td (, ) Tj ET Q q 0 0 0 rg BT 74.92 382.10 Td (representing ) Tj ET Q q 0 0 0 rg BT 126.77 382.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 145.29 382.10 Td (of ) Tj ET Q q 0 0 0 rg BT 156.05 382.10 Td ($201,404, ) Tj ET Q q 0 0 0 rg BT 198.47 382.10 Td (less ) Tj ET Q q 0 0 0 rg BT 215.89 382.10 Td (accumulated ) Tj ET Q q 0 0 0 rg BT 268.84 382.10 Td (depreciation ) Tj ET Q q 0 0 0 rg BT 320.68 382.10 Td (of ) Tj ET Q q 0 0 0 rg BT 331.43 382.10 Td ($183,135. ) Tj ET Q q 0 0 0 rg BT 373.85 382.10 Td (Depreciation ) Tj ET Q q 0 0 0 rg BT 427.91 382.10 Td (is ) Tj ET Q q 0 0 0 rg BT 437.00 382.10 Td (provided ) Tj ET Q q 0 0 0 rg BT 474.97 382.10 Td (using ) Tj ET Q q 0 0 0 rg BT 499.06 382.10 Td (the ) Tj ET Q q 0 0 0 rg BT 513.70 382.10 Td (straight-line ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (method ) Tj ET Q q 0 0 0 rg BT 83.16 370.10 Td (over ) Tj ET Q q 0 0 0 rg BT 104.09 370.10 Td (the ) Tj ET Q q 0 0 0 rg BT 119.47 370.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 160.95 370.10 Td (useful ) Tj ET Q q 0 0 0 rg BT 188.55 370.10 Td (lives ) Tj ET Q q 0 0 0 rg BT 210.60 370.10 Td (of ) Tj ET Q q 0 0 0 rg BT 222.10 370.10 Td (the ) Tj ET Q q 0 0 0 rg BT 237.48 370.10 Td (property ) Tj ET Q q 0 0 0 rg BT 274.52 370.10 Td (and ) Tj ET Q q 0 0 0 rg BT 292.12 370.10 Td (equipment. ) Tj ET Q q 0 0 0 rg BT 339.77 370.10 Td (W) Tj ET Q q 0 0 0 rg BT 348.40 370.10 Td (e ) Tj ET Q q 0 0 0 rg BT 356.00 370.10 Td (estimate ) Tj ET Q q 0 0 0 rg BT 392.49 370.10 Td (the ) Tj ET Q q 0 0 0 rg BT 407.87 370.10 Td (useful ) Tj ET Q q 0 0 0 rg BT 435.47 370.10 Td (lives ) Tj ET Q q 0 0 0 rg BT 457.52 370.10 Td (to ) Tj ET Q q 0 0 0 rg BT 468.46 370.10 Td (be ) Tj ET Q q 0 0 0 rg BT 481.06 370.10 Td (five ) Tj ET Q q 0 0 0 rg BT 499.77 370.10 Td (to ) Tj ET Q q 0 0 0 rg BT 510.71 370.10 Td (ten ) Tj ET Q q 0 0 0 rg BT 526.09 370.10 Td (years ) Tj ET Q q 0 0 0 rg BT 550.35 370.10 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (furniture ) Tj ET Q q 0 0 0 rg BT 87.49 358.10 Td (and ) Tj ET Q q 0 0 0 rg BT 104.42 358.10 Td (fixtures, ) Tj ET Q q 0 0 0 rg BT 139.97 358.10 Td (and ) Tj ET Q q 0 0 0 rg BT 156.91 358.10 Td (three ) Tj ET Q q 0 0 0 rg BT 179.39 358.10 Td (years ) Tj ET Q q 0 0 0 rg BT 202.99 358.10 Td (for ) Tj ET Q q 0 0 0 rg BT 217.15 358.10 Td (computer ) Tj ET Q q 0 0 0 rg BT 257.42 358.10 Td (equipment. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 346.10 Td () Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 86 332.7669921875 m 217.765625 332.7669921875 l s q 0 0 0 rg BT 86.00 334.10 Td (Post-Retirement ) Tj ET Q q 0 0 0 rg BT 153.97 334.10 Td (Plan ) Tj ET Q q 0 0 0 rg BT 174.72 334.10 Td (Liabilities.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.77 334.10 Td ( ) Tj ET Q q 0 0 0 rg BT 220.74 334.10 Td (Until ) Tj ET Q q 0 0 0 rg BT 244.27 334.10 Td (it ) Tj ET Q q 0 0 0 rg BT 252.80 334.10 Td (was ) Tj ET Q q 0 0 0 rg BT 271.33 334.10 Td (terminated ) Tj ET Q q 0 0 0 rg BT 317.06 334.10 Td (on ) Tj ET Q q 0 0 0 rg BT 329.38 334.10 Td (April ) Tj ET Q q 0 0 0 rg BT 353.47 334.10 Td (27, ) Tj ET Q q 0 0 0 rg BT 368.94 334.10 Td (2017, ) Tj ET Q q 0 0 0 rg BT 394.42 334.10 Td (the ) Tj ET Q q 0 0 0 rg BT 409.61 334.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 451.47 334.10 Td (provided ) Tj ET Q q 0 0 0 rg BT 489.99 334.10 Td (a ) Tj ET Q q 0 0 0 rg BT 497.41 334.10 Td (Retiree ) Tj ET Q q 0 0 0 rg BT 529.25 334.10 Td (Medical ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (Benefit ) Tj ET Q q 0 0 0 rg BT 81.95 322.10 Td (Plan ) Tj ET Q q 0 0 0 rg BT 102.24 322.10 Td (for ) Tj ET Q q 0 0 0 rg BT 116.42 322.10 Td (employees ) Tj ET Q q 0 0 0 rg BT 161.69 322.10 Td (who ) Tj ET Q q 0 0 0 rg BT 181.43 322.10 Td (met ) Tj ET Q q 0 0 0 rg BT 198.94 322.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 228.66 322.10 Td (eligibility ) Tj ET Q q 0 0 0 rg BT 270.06 322.10 Td (requirements. ) Tj ET Q q 0 0 0 rg BT 327.28 322.10 Td (Until ) Tj ET Q q 0 0 0 rg BT 350.35 322.10 Td (it ) Tj ET Q q 0 0 0 rg BT 358.42 322.10 Td (was ) Tj ET Q q 0 0 0 rg BT 376.48 322.10 Td (terminated ) Tj ET Q q 0 0 0 rg BT 421.76 322.10 Td (on ) Tj ET Q q 0 0 0 rg BT 434.27 322.10 Td (May ) Tj ET Q q 0 0 0 rg BT 455.12 322.10 Td (5, ) Tj ET Q q 0 0 0 rg BT 465.13 322.10 Td (201) Tj ET Q q 0 0 0 rg BT 479.76 322.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 489.78 322.10 Td (the ) Tj ET Q q 0 0 0 rg BT 504.51 322.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 545.91 322.10 Td (also ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (provided ) Tj ET Q q 0 0 0 rg BT 87.56 310.10 Td (an ) Tj ET Q q 0 0 0 rg BT 99.01 310.10 Td (Executive ) Tj ET Q q 0 0 0 rg BT 141.01 310.10 Td (Mandatory ) Tj ET Q q 0 0 0 rg BT 186.90 310.10 Td (Retirement ) Tj ET Q q 0 0 0 rg BT 233.34 310.10 Td (Benefit ) Tj ET Q q 0 0 0 rg BT 264.79 310.10 Td (Plan ) Tj ET Q q 0 0 0 rg BT 284.58 310.10 Td (for ) Tj ET Q q 0 0 0 rg BT 298.26 310.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 327.47 310.10 Td (individuals ) Tj ET Q q 0 0 0 rg BT 373.93 310.10 Td (employed ) Tj ET Q q 0 0 0 rg BT 415.38 310.10 Td (by ) Tj ET Q q 0 0 0 rg BT 427.39 310.10 Td (us ) Tj ET Q q 0 0 0 rg BT 438.30 310.10 Td (in ) Tj ET Q q 0 0 0 rg BT 448.09 310.10 Td (a ) Tj ET Q q 0 0 0 rg BT 454.54 310.10 Td (bona ) Tj ET Q q 0 0 0 rg BT 476.00 310.10 Td (fide ) Tj ET Q q 0 0 0 rg BT 493.56 310.10 Td (executive ) Tj ET Q q 0 0 0 rg BT 533.88 310.10 Td (or ) Tj ET Q q 0 0 0 rg BT 544.23 310.10 Td (high ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (policy-making ) Tj ET Q q 0 0 0 rg BT 110.78 298.10 Td (position. ) Tj ET Q q 0 0 0 rg BT 147.78 298.10 Td (The ) Tj ET Q q 0 0 0 rg BT 165.78 298.10 Td (net ) Tj ET Q q 0 0 0 rg BT 180.45 298.10 Td (periodic ) Tj ET Q q 0 0 0 rg BT 215.67 298.10 Td (post-retirement ) Tj ET Q q 0 0 0 rg BT 279.22 298.10 Td (benefit ) Tj ET Q q 0 0 0 rg BT 309.43 298.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 328.00 298.10 Td (includes ) Tj ET Q q 0 0 0 rg BT 363.78 298.10 Td (service ) Tj ET Q q 0 0 0 rg BT 394.55 298.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 413.11 298.10 Td (and ) Tj ET Q q 0 0 0 rg BT 430.01 298.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 461.89 298.10 Td (on ) Tj ET Q q 0 0 0 rg BT 474.35 298.10 Td (the ) Tj ET Q q 0 0 0 rg BT 489.02 298.10 Td (accumulated ) Tj ET Q q 0 0 0 rg BT 542.00 298.10 Td (post-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (retirement ) Tj ET Q q 0 0 0 rg BT 93.57 286.10 Td (benefit ) Tj ET Q q 0 0 0 rg BT 123.82 286.10 Td (obligation. ) Tj ET Q q 0 0 0 rg BT 169.35 286.10 Td (Unrecognized ) Tj ET Q q 0 0 0 rg BT 227.92 286.10 Td (actuarial ) Tj ET Q q 0 0 0 rg BT 264.82 286.10 Td (gains ) Tj ET Q q 0 0 0 rg BT 288.41 286.10 Td (of ) Tj ET Q q 0 0 0 rg BT 299.22 286.10 Td ($ ) Tj ET Q q 0 0 0 rg BT 306.70 286.10 Td (183,297, ) Tj ET Q q 0 0 0 rg BT 344.18 286.10 Td (are ) Tj ET Q q 0 0 0 rg BT 358.87 286.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 405.22 286.10 Td (as ) Tj ET Q q 0 0 0 rg BT 416.03 286.10 Td (net ) Tj ET Q q 0 0 0 rg BT 430.73 286.10 Td (periodic ) Tj ET Q q 0 0 0 rg BT 465.97 286.10 Td (benefit ) Tj ET Q q 0 0 0 rg BT 496.22 286.10 Td (cost, ) Tj ET Q q 0 0 0 rg BT 517.31 286.10 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 554.23 286.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (the ) Tj ET Q q 0 0 0 rg BT 66.44 274.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 115.25 274.10 Td (historical ) Tj ET Q q 0 0 0 rg BT 156.68 274.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 204.78 274.10 Td (policy ) Tj ET Q q 0 0 0 rg BT 234.00 274.10 Td (in ) Tj ET Q q 0 0 0 rg BT 246.00 274.10 Td ("Salaries, ) Tj ET Q q 0 0 0 rg BT 288.46 274.10 Td (bonus ) Tj ET Q q 0 0 0 rg BT 316.58 274.10 Td (and ) Tj ET Q q 0 0 0 rg BT 335.24 274.10 Td (benefits" ) Tj ET Q q 0 0 0 rg BT 375.21 274.10 Td (in ) Tj ET Q q 0 0 0 rg BT 387.21 274.10 Td (the ) Tj ET Q q 0 0 0 rg BT 403.65 274.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 452.45 274.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 509.45 274.10 Td (Statement ) Tj ET Q q 0 0 0 rg BT 553.67 274.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (Operations. ) Tj ET Q q 0 0 0 rg BT 99.52 262.10 Td (The ) Tj ET Q q 0 0 0 rg BT 118.45 262.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 149.04 262.10 Td (of ) Tj ET Q q 0 0 0 rg BT 160.76 262.10 Td (plan ) Tj ET Q q 0 0 0 rg BT 181.36 262.10 Td (amendments ) Tj ET Q q 0 0 0 rg BT 235.28 262.10 Td (was ) Tj ET Q q 0 0 0 rg BT 254.22 262.10 Td (amortized ) Tj ET Q q 0 0 0 rg BT 297.58 262.10 Td (over ) Tj ET Q q 0 0 0 rg BT 318.73 262.10 Td (the ) Tj ET Q q 0 0 0 rg BT 334.34 262.10 Td (employee's ) Tj ET Q q 0 0 0 rg BT 382.28 262.10 Td (average ) Tj ET Q q 0 0 0 rg BT 416.75 262.10 Td (service ) Tj ET Q q 0 0 0 rg BT 448.45 262.10 Td (period ) Tj ET Q q 0 0 0 rg BT 477.38 262.10 Td (as ) Tj ET Q q 0 0 0 rg BT 489.10 262.10 Td (a ) Tj ET Q q 0 0 0 rg BT 496.92 262.10 Td (reduction ) Tj ET Q q 0 0 0 rg BT 538.07 262.10 Td (of ) Tj ET Q q 0 0 0 rg BT 549.78 262.10 Td (net ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (periodic ) Tj ET Q q 0 0 0 rg BT 85.03 250.10 Td (benefit ) Tj ET Q q 0 0 0 rg BT 115.05 250.10 Td (cost. ) Tj ET Q q 0 0 0 rg BT 135.92 250.10 Td (Unamortized ) Tj ET Q q 0 0 0 rg BT 190.39 250.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 212.09 250.10 Td (service ) Tj ET Q q 0 0 0 rg BT 242.67 250.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 261.04 250.10 Td (was ) Tj ET Q q 0 0 0 rg BT 278.85 250.10 Td (fully ) Tj ET Q q 0 0 0 rg BT 300.00 250.10 Td (amortized ) Tj ET Q q 0 0 0 rg BT 342.24 250.10 Td (during ) Tj ET Q q 0 0 0 rg BT 370.61 250.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 392.87 250.10 Td (as ) Tj ET Q q 0 0 0 rg BT 403.47 250.10 Td (a ) Tj ET Q q 0 0 0 rg BT 410.17 250.10 Td (result ) Tj ET Q q 0 0 0 rg BT 434.65 250.10 Td (of ) Tj ET Q q 0 0 0 rg BT 445.24 250.10 Td (the ) Tj ET Q q 0 0 0 rg BT 459.72 250.10 Td (termination ) Tj ET Q q 0 0 0 rg BT 508.08 250.10 Td (of ) Tj ET Q q 0 0 0 rg BT 518.67 250.10 Td (the ) Tj ET Q q 0 0 0 rg BT 533.15 250.10 Td (Retiree ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (Medical ) Tj ET Q q 0 0 0 rg BT 85.26 238.10 Td (Benefit ) Tj ET Q q 0 0 0 rg BT 117.20 238.10 Td (Plan.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 226.10 Td () Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 86 212.76699218750002 m 201.693359375 212.76699218750002 l s q 0 0 0 rg BT 86.00 214.10 Td (Interest ) Tj ET Q q 0 0 0 rg BT 118.16 214.10 Td (Income ) Tj ET Q q 0 0 0 rg BT 150.31 214.10 Td (Recognition.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.69 214.10 Td ( ) Tj ET Q q 0 0 0 rg BT 203.86 214.10 Td ( ) Tj ET Q q 0 0 0 rg BT 206.03 214.10 Td (Interest ) Tj ET Q q 0 0 0 rg BT 238.19 214.10 Td (income, ) Tj ET Q q 0 0 0 rg BT 272.29 214.10 Td (including ) Tj ET Q q 0 0 0 rg BT 312.24 214.10 Td (amortization ) Tj ET Q q 0 0 0 rg BT 364.95 214.10 Td (of ) Tj ET Q q 0 0 0 rg BT 375.45 214.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 413.72 214.10 Td (and ) Tj ET Q q 0 0 0 rg BT 430.33 214.10 Td (accretion ) Tj ET Q q 0 0 0 rg BT 469.14 214.10 Td (of ) Tj ET Q q 0 0 0 rg BT 479.64 214.10 Td (discount, ) Tj ET Q q 0 0 0 rg BT 518.20 214.10 Td (is ) Tj ET Q q 0 0 0 rg BT 527.04 214.10 Td (recorded ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (on ) Tj ET Q q 0 0 0 rg BT 62.46 202.10 Td (an ) Tj ET Q q 0 0 0 rg BT 74.37 202.10 Td (accrual ) Tj ET Q q 0 0 0 rg BT 105.70 202.10 Td (basis. ) Tj ET Q q 0 0 0 rg BT 130.48 202.10 Td (When ) Tj ET Q q 0 0 0 rg BT 156.82 202.10 Td (accrued ) Tj ET Q q 0 0 0 rg BT 190.37 202.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 222.27 202.10 Td (is ) Tj ET Q q 0 0 0 rg BT 231.41 202.10 Td (determined ) Tj ET Q q 0 0 0 rg BT 278.85 202.10 Td (not ) Tj ET Q q 0 0 0 rg BT 294.09 202.10 Td (to ) Tj ET Q q 0 0 0 rg BT 304.34 202.10 Td (be ) Tj ET Q q 0 0 0 rg BT 316.24 202.10 Td (recoverable, ) Tj ET Q q 0 0 0 rg BT 367.84 202.10 Td (the ) Tj ET Q q 0 0 0 rg BT 382.52 202.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 423.87 202.10 Td (ceases ) Tj ET Q q 0 0 0 rg BT 451.87 202.10 Td (accruing ) Tj ET Q q 0 0 0 rg BT 488.76 202.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 520.66 202.10 Td (and ) Tj ET Q q 0 0 0 rg BT 537.56 202.10 Td (writes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (of) Tj ET Q q 0 0 0 rg BT 58.15 190.10 Td (f ) Tj ET Q q 0 0 0 rg BT 63.72 190.10 Td (any ) Tj ET Q q 0 0 0 rg BT 80.41 190.10 Td (previously ) Tj ET Q q 0 0 0 rg BT 124.87 190.10 Td (accrued ) Tj ET Q q 0 0 0 rg BT 158.19 190.10 Td (interest. ) Tj ET Q q 0 0 0 rg BT 192.37 190.10 Td ( ) Tj ET Q q 0 0 0 rg BT 194.61 190.10 Td (Securities ) Tj ET Q q 0 0 0 rg BT 236.29 190.10 Td (are ) Tj ET Q q 0 0 0 rg BT 250.74 190.10 Td (deemed ) Tj ET Q q 0 0 0 rg BT 284.08 190.10 Td (to ) Tj ET Q q 0 0 0 rg BT 294.10 190.10 Td (be ) Tj ET Q q 0 0 0 rg BT 305.78 190.10 Td (non-income ) Tj ET Q q 0 0 0 rg BT 355.79 190.10 Td (producing ) Tj ET Q q 0 0 0 rg BT 398.58 190.10 Td (if ) Tj ET Q q 0 0 0 rg BT 406.93 190.10 Td (investments ) Tj ET Q q 0 0 0 rg BT 456.95 190.10 Td (have ) Tj ET Q q 0 0 0 rg BT 478.07 190.10 Td (not ) Tj ET Q q 0 0 0 rg BT 493.09 190.10 Td (paid ) Tj ET Q q 0 0 0 rg BT 512.55 190.10 Td (dividends ) Tj ET Q q 0 0 0 rg BT 553.68 190.10 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 82.93 178.10 Td (within ) Tj ET Q q 0 0 0 rg BT 111.99 178.10 Td (the ) Tj ET Q q 0 0 0 rg BT 127.70 178.10 Td (last ) Tj ET Q q 0 0 0 rg BT 145.08 178.10 Td (12 ) Tj ET Q q 0 0 0 rg BT 158.58 178.10 Td (months. ) Tj ET Q q 0 0 0 rg BT 194.03 178.10 Td ( ) Tj ET Q q 0 0 0 rg BT 197.27 178.10 Td (W) Tj ET Q q 0 0 0 rg BT 206.31 178.10 Td (rite-of) Tj ET Q q 0 0 0 rg BT 231.11 178.10 Td (fs ) Tj ET Q q 0 0 0 rg BT 241.83 178.10 Td (are ) Tj ET Q q 0 0 0 rg BT 257.54 178.10 Td (netted ) Tj ET Q q 0 0 0 rg BT 285.47 178.10 Td (in ) Tj ET Q q 0 0 0 rg BT 296.75 178.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 329.68 178.10 Td (income. ) Tj ET Q q 0 0 0 rg BT 365.11 178.10 Td ( ) Tj ET Q q 0 0 0 rg BT 368.61 178.10 Td (During ) Tj ET Q q 0 0 0 rg BT 400.43 178.10 Td (the ) Tj ET Q q 0 0 0 rg BT 416.15 178.10 Td (year ) Tj ET Q q 0 0 0 rg BT 436.85 178.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.23 178.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 523.81 178.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.81 178.10 Td (, ) Tj ET Q q 0 0 0 rg BT 549.81 178.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 91.14 166.10 Td (had ) Tj ET Q q 0 0 0 rg BT 107.84 166.10 Td (write-of) Tj ET Q q 0 0 0 rg BT 139.86 166.10 Td (fs ) Tj ET Q q 0 0 0 rg BT 149.34 166.10 Td (that ) Tj ET Q q 0 0 0 rg BT 166.59 166.10 Td (netted ) Tj ET Q q 0 0 0 rg BT 193.28 166.10 Td (a ) Tj ET Q q 0 0 0 rg BT 199.98 166.10 Td (reduction ) Tj ET Q q 0 0 0 rg BT 240.00 166.10 Td (of ) Tj ET Q q 0 0 0 rg BT 250.58 166.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 282.27 166.10 Td (income ) Tj ET Q q 0 0 0 rg BT 313.96 166.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.55 166.10 Td ($30,544) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.05 166.10 Td ( ) Tj ET Q q 0 0 0 rg BT 359.30 166.10 Td (in ) Tj ET Q q 0 0 0 rg BT 369.34 166.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 389.36 166.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 421.05 166.10 Td (on ) Tj ET Q q 0 0 0 rg BT 433.31 166.10 Td (senior ) Tj ET Q q 0 0 0 rg BT 460.00 166.10 Td (secured ) Tj ET Q q 0 0 0 rg BT 492.79 166.10 Td (debt, ) Tj ET Q q 0 0 0 rg BT 514.77 166.10 Td (secured ) Tj ET Q q 0 0 0 rg BT 547.56 166.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.10 Td (unsecured ) Tj ET Q q 0 0 0 rg BT 92.08 154.10 Td (convertible ) Tj ET Q q 0 0 0 rg BT 138.61 154.10 Td (bridge ) Tj ET Q q 0 0 0 rg BT 165.70 154.10 Td (notes, ) Tj ET Q q 0 0 0 rg BT 190.85 154.10 Td (interest-bearing ) Tj ET Q q 0 0 0 rg BT 255.15 154.10 Td (accounts ) Tj ET Q q 0 0 0 rg BT 291.68 154.10 Td (and ) Tj ET Q q 0 0 0 rg BT 307.66 154.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 326.99 154.10 Td (government ) Tj ET Q q 0 0 0 rg BT 376.30 154.10 Td (securities. ) Tj ET Q q 0 0 0 rg BT 418.11 154.10 Td (During ) Tj ET Q q 0 0 0 rg BT 447.99 154.10 Td (the ) Tj ET Q q 0 0 0 rg BT 461.75 154.10 Td (year ) Tj ET Q q 0 0 0 rg BT 480.50 154.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.92 154.10 Td (December31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 142.10 Td (, ) Tj ET Q q 0 0 0 rg BT 74.80 142.10 Td (the ) Tj ET Q q 0 0 0 rg BT 89.32 142.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 130.51 142.10 Td (recorded, ) Tj ET Q q 0 0 0 rg BT 170.29 142.10 Td (on ) Tj ET Q q 0 0 0 rg BT 182.59 142.10 Td (a ) Tj ET Q q 0 0 0 rg BT 189.33 142.10 Td (net ) Tj ET Q q 0 0 0 rg BT 203.85 142.10 Td (basis, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.65 142.10 Td ($19,206) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.15 142.10 Td ( ) Tj ET Q q 0 0 0 rg BT 263.45 142.10 Td (of ) Tj ET Q q 0 0 0 rg BT 274.09 142.10 Td (bridge ) Tj ET Q q 0 0 0 rg BT 301.94 142.10 Td (note ) Tj ET Q q 0 0 0 rg BT 321.46 142.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 341.53 142.10 Td (interest. ) Tj ET Q q 0 0 0 rg BT 375.76 142.10 Td (During ) Tj ET Q q 0 0 0 rg BT 406.39 142.10 Td (the ) Tj ET Q q 0 0 0 rg BT 420.91 142.10 Td (year ) Tj ET Q q 0 0 0 rg BT 440.42 142.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.60 142.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 524.99 142.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.99 142.10 Td (, ) Tj ET Q q 0 0 0 rg BT 549.79 142.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 91.39 130.10 Td (recorded, ) Tj ET Q q 0 0 0 rg BT 131.36 130.10 Td (on ) Tj ET Q q 0 0 0 rg BT 143.86 130.10 Td (a ) Tj ET Q q 0 0 0 rg BT 150.80 130.10 Td (net ) Tj ET Q q 0 0 0 rg BT 165.52 130.10 Td (basis, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.52 130.10 Td ($59,671) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.02 130.10 Td ( ) Tj ET Q q 0 0 0 rg BT 225.52 130.10 Td (of ) Tj ET Q q 0 0 0 rg BT 236.35 130.10 Td (bridge ) Tj ET Q q 0 0 0 rg BT 264.39 130.10 Td (note ) Tj ET Q q 0 0 0 rg BT 284.11 130.10 Td (PIK ) Tj ET Q q 0 0 0 rg BT 302.72 130.10 Td (interest. ) Tj ET Q endstream endobj 53 0 obj <> endobj 54 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (26) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 742.10 Td (When ) Tj ET Q q 0 0 0 rg BT 112.27 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 126.89 742.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 143.16 742.10 Td (value ) Tj ET Q q 0 0 0 rg BT 167.22 742.10 Td (of ) Tj ET Q q 0 0 0 rg BT 177.94 742.10 Td (a ) Tj ET Q q 0 0 0 rg BT 184.78 742.10 Td (security ) Tj ET Q q 0 0 0 rg BT 218.83 742.10 Td (that ) Tj ET Q q 0 0 0 rg BT 236.22 742.10 Td (includes ) Tj ET Q q 0 0 0 rg BT 271.95 742.10 Td (PIK ) Tj ET Q q 0 0 0 rg BT 290.46 742.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 322.29 742.10 Td (is ) Tj ET Q q 0 0 0 rg BT 331.36 742.10 Td (less ) Tj ET Q q 0 0 0 rg BT 348.75 742.10 Td (than ) Tj ET Q q 0 0 0 rg BT 368.37 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 382.98 742.10 Td (accrued ) Tj ET Q q 0 0 0 rg BT 416.46 742.10 Td (interest, ) Tj ET Q q 0 0 0 rg BT 450.79 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 465.41 742.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 506.69 742.10 Td (may ) Tj ET Q q 0 0 0 rg BT 526.31 742.10 Td (place ) Tj ET Q q 0 0 0 rg BT 549.80 742.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (security ) Tj ET Q q 0 0 0 rg BT 84.48 730.10 Td (on ) Tj ET Q q 0 0 0 rg BT 97.30 730.10 Td (non-accrued ) Tj ET Q q 0 0 0 rg BT 149.53 730.10 Td (status. ) Tj ET Q q 0 0 0 rg BT 177.63 730.10 Td (Starting ) Tj ET Q q 0 0 0 rg BT 211.50 730.10 Td (April ) Tj ET Q q 0 0 0 rg BT 235.43 730.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 245.75 730.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 268.57 730.10 Td (and ) Tj ET Q q 0 0 0 rg BT 285.83 730.10 Td (through ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.76 730.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 378.66 730.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.66 730.10 Td (, ) Tj ET Q q 0 0 0 rg BT 403.98 730.10 Td (Black ) Tj ET Q q 0 0 0 rg BT 430.13 730.10 Td (Silicon ) Tj ET Q q 0 0 0 rg BT 461.29 730.10 Td (Holdings, ) Tj ET Q q 0 0 0 rg BT 503.28 730.10 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 521.37 730.10 Td (is ) Tj ET Q q 0 0 0 rg BT 530.86 730.10 Td (on ) Tj ET Q q 0 0 0 rg BT 543.68 730.10 Td (non-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (accrued ) Tj ET Q q 0 0 0 rg BT 84.04 718.10 Td (status. ) Tj ET Q q 0 0 0 rg BT 112.27 718.10 Td (Had ) Tj ET Q q 0 0 0 rg BT 131.88 718.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 164.27 718.10 Td (been ) Tj ET Q q 0 0 0 rg BT 186.10 718.10 Td (accrued, ) Tj ET Q q 0 0 0 rg BT 222.64 718.10 Td (an ) Tj ET Q q 0 0 0 rg BT 235.03 718.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 277.98 718.10 Td ($78,128 ) Tj ET Q q 0 0 0 rg BT 313.43 718.10 Td (in ) Tj ET Q q 0 0 0 rg BT 324.17 718.10 Td (income ) Tj ET Q q 0 0 0 rg BT 356.55 718.10 Td (would ) Tj ET Q q 0 0 0 rg BT 384.51 718.10 Td (have ) Tj ET Q q 0 0 0 rg BT 406.34 718.10 Td (been ) Tj ET Q q 0 0 0 rg BT 428.17 718.10 Td (included ) Tj ET Q q 0 0 0 rg BT 465.56 718.10 Td (in ) Tj ET Q q 0 0 0 rg BT 476.29 718.10 Td ("Controlled ) Tj ET Q q 0 0 0 rg BT 526.10 718.10 Td (af) Tj ET Q q 0 0 0 rg BT 533.69 718.10 Td (filiated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (companies-PIK" ) Tj ET Q q 0 0 0 rg BT 118.54 706.10 Td (in ) Tj ET Q q 0 0 0 rg BT 128.56 706.10 Td (the ) Tj ET Q q 0 0 0 rg BT 143.03 706.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 189.85 706.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 244.88 706.10 Td (Statement ) Tj ET Q q 0 0 0 rg BT 287.11 706.10 Td (of ) Tj ET Q q 0 0 0 rg BT 297.69 706.10 Td (Operations. ) Tj ET Q q 0 0 0 rg BT 346.32 706.10 Td (Starting ) Tj ET Q q 0 0 0 rg BT 380.23 706.10 Td (July ) Tj ET Q q 0 0 0 rg BT 399.15 706.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 408.89 706.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 431.14 706.10 Td (and ) Tj ET Q q 0 0 0 rg BT 447.83 706.10 Td (through ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.18 706.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 539.51 706.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.51 706.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (Produced ) Tj ET Q q 0 0 0 rg BT 89.84 694.10 Td (W) Tj ET Q q 0 0 0 rg BT 98.48 694.10 Td (ater ) Tj ET Q q 0 0 0 rg BT 115.20 694.10 Td (Absorbents, ) Tj ET Q q 0 0 0 rg BT 165.49 694.10 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 182.99 694.10 Td (\("PW) Tj ET Q q 0 0 0 rg BT 204.29 694.10 Td (A"\) ) Tj ET Q q 0 0 0 rg BT 221.16 694.10 Td (is ) Tj ET Q q 0 0 0 rg BT 230.06 694.10 Td (on ) Tj ET Q q 0 0 0 rg BT 242.29 694.10 Td (non-accrued ) Tj ET Q q 0 0 0 rg BT 293.94 694.10 Td (status. ) Tj ET Q q 0 0 0 rg BT 321.45 694.10 Td (Had ) Tj ET Q q 0 0 0 rg BT 340.35 694.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 372.01 694.10 Td (been ) Tj ET Q q 0 0 0 rg BT 393.12 694.10 Td (accrued, ) Tj ET Q q 0 0 0 rg BT 428.94 694.10 Td (an ) Tj ET Q q 0 0 0 rg BT 440.61 694.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 482.83 694.10 Td ($486,470 ) Tj ET Q q 0 0 0 rg BT 522.57 694.10 Td (in ) Tj ET Q q 0 0 0 rg BT 532.58 694.10 Td (income ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (would ) Tj ET Q q 0 0 0 rg BT 76.85 682.10 Td (have ) Tj ET Q q 0 0 0 rg BT 97.59 682.10 Td (been ) Tj ET Q q 0 0 0 rg BT 118.32 682.10 Td (included ) Tj ET Q q 0 0 0 rg BT 154.61 682.10 Td (in ) Tj ET Q q 0 0 0 rg BT 164.24 682.10 Td ("Non-controlled ) Tj ET Q q 0 0 0 rg BT 231.27 682.10 Td (af) Tj ET Q q 0 0 0 rg BT 238.86 682.10 Td (filiated ) Tj ET Q q 0 0 0 rg BT 269.03 682.10 Td (companies-cash" ) Tj ET Q q 0 0 0 rg BT 338.83 682.10 Td (in ) Tj ET Q q 0 0 0 rg BT 348.46 682.10 Td (the ) Tj ET Q q 0 0 0 rg BT 362.53 682.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 408.97 682.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 463.60 682.10 Td (Statement ) Tj ET Q q 0 0 0 rg BT 505.44 682.10 Td (of ) Tj ET Q q 0 0 0 rg BT 515.63 682.10 Td (Operations. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (An ) Tj ET Q q 0 0 0 rg BT 64.07 670.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 105.92 670.10 Td ($49,562 ) Tj ET Q q 0 0 0 rg BT 140.27 670.10 Td (was ) Tj ET Q q 0 0 0 rg BT 157.68 670.10 Td (written-of) Tj ET Q q 0 0 0 rg BT 197.48 670.10 Td (f ) Tj ET Q q 0 0 0 rg BT 202.66 670.10 Td (on ) Tj ET Q q 0 0 0 rg BT 214.52 670.10 Td (the ) Tj ET Q q 0 0 0 rg BT 228.59 670.10 Td (senior ) Tj ET Q q 0 0 0 rg BT 254.88 670.10 Td (secured ) Tj ET Q q 0 0 0 rg BT 287.27 670.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 306.34 670.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 333.19 670.10 Td (by ) Tj ET Q q 0 0 0 rg BT 345.04 670.10 Td (PW) Tj ET Q q 0 0 0 rg BT 358.94 670.10 Td (A) Tj ET Q q 0 0 0 rg BT 365.61 670.10 Td ( ) Tj ET Q q 0 0 0 rg BT 367.46 670.10 Td (to ) Tj ET Q q 0 0 0 rg BT 377.09 670.10 Td (the ) Tj ET Q q 0 0 0 rg BT 391.16 670.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 431.90 670.10 Td (due ) Tj ET Q q 0 0 0 rg BT 448.19 670.10 Td (to ) Tj ET Q q 0 0 0 rg BT 457.82 670.10 Td (Management's ) Tj ET Q q 0 0 0 rg BT 517.57 670.10 Td (assessment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.83 658.10 Td (collectibility) Tj ET Q q 0 0 0 rg BT 110.72 658.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 86 632.7669921875 m 287.58203125 632.7669921875 l s q 0 0 0 rg BT 86.00 634.10 Td (Y) Tj ET Q q 0 0 0 rg BT 92.67 634.10 Td (ield ) Tj ET Q q 0 0 0 rg BT 111.22 634.10 Td (Enhancing ) Tj ET Q q 0 0 0 rg BT 157.55 634.10 Td (Fee ) Tj ET Q q 0 0 0 rg BT 175.55 634.10 Td (Income ) Tj ET Q q 0 0 0 rg BT 209.09 634.10 Td (on ) Tj ET Q q 0 0 0 rg BT 222.65 634.10 Td (Debt ) Tj ET Q q 0 0 0 rg BT 245.65 634.10 Td (Securities.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.58 634.10 Td ( ) Tj ET Q q 0 0 0 rg BT 290.61 634.10 Td (Y) Tj ET Q q 0 0 0 rg BT 297.28 634.10 Td (ield ) Tj ET Q q 0 0 0 rg BT 315.84 634.10 Td (enhancing ) Tj ET Q q 0 0 0 rg BT 360.49 634.10 Td (fee ) Tj ET Q q 0 0 0 rg BT 376.26 634.10 Td (income ) Tj ET Q q 0 0 0 rg BT 409.25 634.10 Td (received ) Tj ET Q q 0 0 0 rg BT 446.67 634.10 Td (in ) Tj ET Q q 0 0 0 rg BT 458.01 634.10 Td (connection ) Tj ET Q q 0 0 0 rg BT 505.44 634.10 Td (with ) Tj ET Q q 0 0 0 rg BT 526.78 634.10 Td (our ) Tj ET Q q 0 0 0 rg BT 543.67 634.10 Td (non-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (convertible ) Tj ET Q q 0 0 0 rg BT 96.99 622.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 116.22 622.10 Td (investments ) Tj ET Q q 0 0 0 rg BT 166.00 622.10 Td (are ) Tj ET Q q 0 0 0 rg BT 180.21 622.10 Td (deferred. ) Tj ET Q q 0 0 0 rg BT 217.88 622.10 Td (The ) Tj ET Q q 0 0 0 rg BT 235.44 622.10 Td (unearned ) Tj ET Q q 0 0 0 rg BT 274.10 622.10 Td (fee ) Tj ET Q q 0 0 0 rg BT 288.31 622.10 Td (income ) Tj ET Q q 0 0 0 rg BT 319.75 622.10 Td (is ) Tj ET Q q 0 0 0 rg BT 328.43 622.10 Td (accreted ) Tj ET Q q 0 0 0 rg BT 363.74 622.10 Td (into ) Tj ET Q q 0 0 0 rg BT 381.31 622.10 Td (income ) Tj ET Q q 0 0 0 rg BT 412.75 622.10 Td (based ) Tj ET Q q 0 0 0 rg BT 437.53 622.10 Td (on ) Tj ET Q q 0 0 0 rg BT 449.54 622.10 Td (the ) Tj ET Q q 0 0 0 rg BT 463.77 622.10 Td (ef) Tj ET Q q 0 0 0 rg BT 471.35 622.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 500.57 622.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 532.01 622.10 Td (method ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (over ) Tj ET Q q 0 0 0 rg BT 70.76 610.10 Td (the ) Tj ET Q q 0 0 0 rg BT 85.97 610.10 Td (life ) Tj ET Q q 0 0 0 rg BT 102.29 610.10 Td (of ) Tj ET Q q 0 0 0 rg BT 113.61 610.10 Td (the ) Tj ET Q q 0 0 0 rg BT 128.82 610.10 Td (investment. ) Tj ET Q q 0 0 0 rg BT 178.19 610.10 Td (During ) Tj ET Q q 0 0 0 rg BT 209.51 610.10 Td (the ) Tj ET Q q 0 0 0 rg BT 224.72 610.10 Td (year ) Tj ET Q q 0 0 0 rg BT 244.92 610.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.79 610.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 330.87 610.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.87 610.10 Td (, ) Tj ET Q q 0 0 0 rg BT 356.36 610.10 Td (total ) Tj ET Q q 0 0 0 rg BT 377.13 610.10 Td (yield ) Tj ET Q q 0 0 0 rg BT 400.11 610.10 Td (enhancing ) Tj ET Q q 0 0 0 rg BT 444.20 610.10 Td (fees ) Tj ET Q q 0 0 0 rg BT 463.29 610.10 Td (accreted ) Tj ET Q q 0 0 0 rg BT 499.58 610.10 Td (into ) Tj ET Q q 0 0 0 rg BT 518.13 610.10 Td (investment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (income ) Tj ET Q q 0 0 0 rg BT 81.93 598.10 Td (was ) Tj ET Q q 0 0 0 rg BT 99.99 598.10 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.99 598.10 Td (182,683) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.49 598.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 586.10 Td () Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 86 572.7669921875 m 383.8828125 572.7669921875 l s q 0 0 0 rg BT 86.00 574.10 Td (Fee ) Tj ET Q q 0 0 0 rg BT 103.42 574.10 Td (Income ) Tj ET Q q 0 0 0 rg BT 136.39 574.10 Td (for ) Tj ET Q q 0 0 0 rg BT 151.04 574.10 Td (Providing ) Tj ET Q q 0 0 0 rg BT 193.47 574.10 Td (Managerial ) Tj ET Q q 0 0 0 rg BT 241.33 574.10 Td (Assistance ) Tj ET Q q 0 0 0 rg BT 287.08 574.10 Td (to ) Tj ET Q q 0 0 0 rg BT 297.85 574.10 Td (Portfolio ) Tj ET Q q 0 0 0 rg BT 336.39 574.10 Td (Companies.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.88 574.10 Td ( ) Tj ET Q q 0 0 0 rg BT 386.87 574.10 Td (During ) Tj ET Q q 0 0 0 rg BT 418.18 574.10 Td (the ) Tj ET Q q 0 0 0 rg BT 433.38 574.10 Td (year ) Tj ET Q q 0 0 0 rg BT 453.58 574.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.44 574.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 539.51 574.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.51 574.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (the ) Tj ET Q q 0 0 0 rg BT 65.81 562.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 108.28 562.10 Td (earned ) Tj ET Q q 0 0 0 rg BT 138.52 562.10 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.52 562.10 Td (75,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.02 562.10 Td ( ) Tj ET Q q 0 0 0 rg BT 174.61 562.10 Td (in ) Tj ET Q q 0 0 0 rg BT 185.98 562.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 207.34 562.10 Td (income ) Tj ET Q q 0 0 0 rg BT 240.36 562.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.39 562.10 Td ($57,940) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.89 562.10 Td ( ) Tj ET Q q 0 0 0 rg BT 294.48 562.10 Td (in ) Tj ET Q q 0 0 0 rg BT 305.85 562.10 Td (non-cash ) Tj ET Q q 0 0 0 rg BT 345.54 562.10 Td (income, ) Tj ET Q q 0 0 0 rg BT 381.06 562.10 Td (owing ) Tj ET Q q 0 0 0 rg BT 409.65 562.10 Td (to ) Tj ET Q q 0 0 0 rg BT 421.02 562.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 451.81 562.10 Td (of ) Tj ET Q q 0 0 0 rg BT 463.73 562.10 Td (its ) Tj ET Q q 0 0 0 rg BT 476.77 562.10 Td (employees ) Tj ET Q q 0 0 0 rg BT 523.13 562.10 Td (providing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (managerial ) Tj ET Q q 0 0 0 rg BT 96.57 550.10 Td (assistance ) Tj ET Q q 0 0 0 rg BT 138.70 550.10 Td (to ) Tj ET Q q 0 0 0 rg BT 148.63 550.10 Td (and/or ) Tj ET Q q 0 0 0 rg BT 176.32 550.10 Td (as ) Tj ET Q q 0 0 0 rg BT 186.80 550.10 Td (members ) Tj ET Q q 0 0 0 rg BT 225.61 550.10 Td (of ) Tj ET Q q 0 0 0 rg BT 236.08 550.10 Td (the ) Tj ET Q q 0 0 0 rg BT 250.45 550.10 Td (board ) Tj ET Q q 0 0 0 rg BT 275.37 550.10 Td (of ) Tj ET Q q 0 0 0 rg BT 285.84 550.10 Td (directors ) Tj ET Q q 0 0 0 rg BT 322.98 550.10 Td (of ) Tj ET Q q 0 0 0 rg BT 333.46 550.10 Td (HALE.life ) Tj ET Q q 0 0 0 rg BT 378.09 550.10 Td (Corporation ) Tj ET Q q 0 0 0 rg BT 428.56 550.10 Td (and ) Tj ET Q q 0 0 0 rg BT 445.00 550.10 Td (TheStreet, ) Tj ET Q q 0 0 0 rg BT 488.52 550.10 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 505.93 550.10 Td ( ) Tj ET Q q 0 0 0 rg BT 507.93 550.10 Td (W) Tj ET Q q 0 0 0 rg BT 516.56 550.10 Td (e ) Tj ET Q q 0 0 0 rg BT 523.15 550.10 Td (recognize ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (revenues ) Tj ET Q q 0 0 0 rg BT 88.04 538.10 Td (from ) Tj ET Q q 0 0 0 rg BT 109.98 538.10 Td (fee ) Tj ET Q q 0 0 0 rg BT 124.68 538.10 Td (income ) Tj ET Q q 0 0 0 rg BT 156.62 538.10 Td (for ) Tj ET Q q 0 0 0 rg BT 170.78 538.10 Td (providing ) Tj ET Q q 0 0 0 rg BT 212.16 538.10 Td (managerial ) Tj ET Q q 0 0 0 rg BT 259.08 538.10 Td (assistance ) Tj ET Q q 0 0 0 rg BT 301.57 538.10 Td (as ) Tj ET Q q 0 0 0 rg BT 312.40 538.10 Td (those ) Tj ET Q q 0 0 0 rg BT 336.01 538.10 Td (services ) Tj ET Q q 0 0 0 rg BT 370.71 538.10 Td (are ) Tj ET Q q 0 0 0 rg BT 385.42 538.10 Td (provided.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 526.10 Td () Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 86 512.7669921875 m 331.185546875 512.7669921875 l s q 0 0 0 rg BT 86.00 514.10 Td (Management ) Tj ET Q q 0 0 0 rg BT 141.49 514.10 Td (Fees ) Tj ET Q q 0 0 0 rg BT 163.11 514.10 Td (and ) Tj ET Q q 0 0 0 rg BT 180.84 514.10 Td (Carried ) Tj ET Q q 0 0 0 rg BT 214.12 514.10 Td (Interest ) Tj ET Q q 0 0 0 rg BT 247.40 514.10 Td (from ) Tj ET Q q 0 0 0 rg BT 270.13 514.10 Td (Managed ) Tj ET Q q 0 0 0 rg BT 310.62 514.10 Td (Fund) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.19 514.10 Td (. ) Tj ET Q q 0 0 0 rg BT 336.25 514.10 Td (As ) Tj ET Q q 0 0 0 rg BT 350.65 514.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.28 514.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 421.65 514.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.65 514.10 Td (, ) Tj ET Q q 0 0 0 rg BT 447.44 514.10 Td (the ) Tj ET Q q 0 0 0 rg BT 462.95 514.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 505.13 514.10 Td (managed ) Tj ET Q q 0 0 0 rg BT 544.51 514.10 Td ($6.1 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (million ) Tj ET Q q 0 0 0 rg BT 80.79 502.10 Td (of ) Tj ET Q q 0 0 0 rg BT 91.02 502.10 Td (external ) Tj ET Q q 0 0 0 rg BT 125.12 502.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 153.67 502.10 Td (as ) Tj ET Q q 0 0 0 rg BT 163.90 502.10 Td (the ) Tj ET Q q 0 0 0 rg BT 178.02 502.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 223.80 502.10 Td (manager ) Tj ET Q q 0 0 0 rg BT 260.12 502.10 Td (of ) Tj ET Q q 0 0 0 rg BT 270.21 502.10 Td (TST) Tj ET Q q 0 0 0 rg BT 287.81 502.10 Td ( ) Tj ET Q q 0 0 0 rg BT 289.71 502.10 Td (SPV) Tj ET Q q 0 0 0 rg BT 307.88 502.10 Td ( ) Tj ET Q q 0 0 0 rg BT 309.77 502.10 Td (and ) Tj ET Q q 0 0 0 rg BT 326.11 502.10 Td (180.2 ) Tj ET Q q 0 0 0 rg BT 350.51 502.10 Td (SPV) Tj ET Q q 0 0 0 rg BT 368.68 502.10 Td ( ) Tj ET Q q 0 0 0 rg BT 370.58 502.10 Td (\(together) Tj ET Q q 0 0 0 rg BT 406.27 502.10 Td (, ) Tj ET Q q 0 0 0 rg BT 410.67 502.10 Td (the ) Tj ET Q q 0 0 0 rg BT 424.78 502.10 Td ("Managed ) Tj ET Q q 0 0 0 rg BT 467.97 502.10 Td (SPVs"\). ) Tj ET Q q 0 0 0 rg BT 502.02 502.10 Td ( ) Tj ET Q q 0 0 0 rg BT 503.92 502.10 Td ( ) Tj ET Q q 0 0 0 rg BT 505.68 502.10 Td (The ) Tj ET Q q 0 0 0 rg BT 523.13 502.10 Td (Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (receives ) Tj ET Q q 0 0 0 rg BT 85.37 490.10 Td (management ) Tj ET Q q 0 0 0 rg BT 139.07 490.10 Td (fees ) Tj ET Q q 0 0 0 rg BT 157.78 490.10 Td (for ) Tj ET Q q 0 0 0 rg BT 172.05 490.10 Td (its ) Tj ET Q q 0 0 0 rg BT 184.11 490.10 Td (services ) Tj ET Q q 0 0 0 rg BT 218.93 490.10 Td (as ) Tj ET Q q 0 0 0 rg BT 229.87 490.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 276.37 490.10 Td (manager ) Tj ET Q q 0 0 0 rg BT 313.40 490.10 Td (that ) Tj ET Q q 0 0 0 rg BT 331.01 490.10 Td (are ) Tj ET Q q 0 0 0 rg BT 345.83 490.10 Td (earned ) Tj ET Q q 0 0 0 rg BT 375.09 490.10 Td (and ) Tj ET Q q 0 0 0 rg BT 392.14 490.10 Td (accrued ) Tj ET Q q 0 0 0 rg BT 425.83 490.10 Td (from ) Tj ET Q q 0 0 0 rg BT 447.89 490.10 Td (the ) Tj ET Q q 0 0 0 rg BT 462.71 490.10 Td (date ) Tj ET Q q 0 0 0 rg BT 481.98 490.10 Td (of ) Tj ET Q q 0 0 0 rg BT 492.92 490.10 Td (inception ) Tj ET Q q 0 0 0 rg BT 532.75 490.10 Td (of ) Tj ET Q q 0 0 0 rg BT 543.69 490.10 Td (each ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (Managed ) Tj ET Q q 0 0 0 rg BT 89.45 478.10 Td (SPV) Tj ET Q q 0 0 0 rg BT 107.62 478.10 Td ( ) Tj ET Q q 0 0 0 rg BT 109.86 478.10 Td (through ) Tj ET Q q 0 0 0 rg BT 143.21 478.10 Td (the ) Tj ET Q q 0 0 0 rg BT 157.68 478.10 Td (date ) Tj ET Q q 0 0 0 rg BT 176.58 478.10 Td (of ) Tj ET Q q 0 0 0 rg BT 187.15 478.10 Td (liquidation ) Tj ET Q q 0 0 0 rg BT 232.73 478.10 Td (of ) Tj ET Q q 0 0 0 rg BT 243.30 478.10 Td (the ) Tj ET Q q 0 0 0 rg BT 257.76 478.10 Td (fund. ) Tj ET Q q 0 0 0 rg BT 280.84 478.10 Td ( ) Tj ET Q q 0 0 0 rg BT 282.92 478.10 Td (These ) Tj ET Q q 0 0 0 rg BT 309.04 478.10 Td (management ) Tj ET Q q 0 0 0 rg BT 362.38 478.10 Td (fees ) Tj ET Q q 0 0 0 rg BT 380.72 478.10 Td (will ) Tj ET Q q 0 0 0 rg BT 398.52 478.10 Td (be ) Tj ET Q q 0 0 0 rg BT 410.21 478.10 Td (paid ) Tj ET Q q 0 0 0 rg BT 429.67 478.10 Td (to ) Tj ET Q q 0 0 0 rg BT 439.69 478.10 Td (us ) Tj ET Q q 0 0 0 rg BT 450.83 478.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 473.07 478.10 Td (liquidation ) Tj ET Q q 0 0 0 rg BT 518.65 478.10 Td (of ) Tj ET Q q 0 0 0 rg BT 529.23 478.10 Td (the ) Tj ET Q q 0 0 0 rg BT 543.69 478.10 Td (fund ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (regardless ) Tj ET Q q 0 0 0 rg BT 93.03 466.10 Td (of ) Tj ET Q q 0 0 0 rg BT 103.86 466.10 Td (the ) Tj ET Q q 0 0 0 rg BT 118.57 466.10 Td (performance ) Tj ET Q q 0 0 0 rg BT 171.59 466.10 Td (of ) Tj ET Q q 0 0 0 rg BT 182.41 466.10 Td (the ) Tj ET Q q 0 0 0 rg BT 197.12 466.10 Td (fund. ) Tj ET Q q 0 0 0 rg BT 220.45 466.10 Td ( ) Tj ET Q q 0 0 0 rg BT 222.76 466.10 Td (The ) Tj ET Q q 0 0 0 rg BT 240.81 466.10 Td (accrued ) Tj ET Q q 0 0 0 rg BT 274.39 466.10 Td (management ) Tj ET Q q 0 0 0 rg BT 327.97 466.10 Td (fees ) Tj ET Q q 0 0 0 rg BT 346.56 466.10 Td (for ) Tj ET Q q 0 0 0 rg BT 360.72 466.10 Td (the ) Tj ET Q q 0 0 0 rg BT 375.43 466.10 Td (year ) Tj ET Q q 0 0 0 rg BT 395.13 466.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.50 466.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 480.08 466.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.08 466.10 Td (, ) Tj ET Q q 0 0 0 rg BT 505.08 466.10 Td (were ) Tj ET Q q 0 0 0 rg BT 527.00 466.10 Td ($73,214. ) Tj ET Q q 0 0 0 rg BT 564.50 466.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (Management ) Tj ET Q q 0 0 0 rg BT 105.85 454.10 Td (fee ) Tj ET Q q 0 0 0 rg BT 121.70 454.10 Td (income ) Tj ET Q q 0 0 0 rg BT 154.78 454.10 Td (is ) Tj ET Q q 0 0 0 rg BT 165.10 454.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 203.72 454.10 Td (in ) Tj ET Q q 0 0 0 rg BT 215.15 454.10 Td ("Management ) Tj ET Q q 0 0 0 rg BT 275.08 454.10 Td (fee ) Tj ET Q q 0 0 0 rg BT 290.93 454.10 Td (income" ) Tj ET Q q 0 0 0 rg BT 328.09 454.10 Td (in ) Tj ET Q q 0 0 0 rg BT 339.52 454.10 Td (the ) Tj ET Q q 0 0 0 rg BT 355.38 454.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 403.61 454.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 460.03 454.10 Td (Statement ) Tj ET Q q 0 0 0 rg BT 503.66 454.10 Td (of ) Tj ET Q q 0 0 0 rg BT 515.64 454.10 Td (Operations. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (Management ) Tj ET Q q 0 0 0 rg BT 104.70 442.10 Td (fee ) Tj ET Q q 0 0 0 rg BT 119.41 442.10 Td (income ) Tj ET Q q 0 0 0 rg BT 151.34 442.10 Td (is ) Tj ET Q q 0 0 0 rg BT 160.51 442.10 Td (paid ) Tj ET Q q 0 0 0 rg BT 180.23 442.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 202.73 442.10 Td (the ) Tj ET Q q 0 0 0 rg BT 217.45 442.10 Td (termination ) Tj ET Q q 0 0 0 rg BT 266.04 442.10 Td (of ) Tj ET Q q 0 0 0 rg BT 276.88 442.10 Td (each ) Tj ET Q q 0 0 0 rg BT 297.69 442.10 Td (Managed ) Tj ET Q q 0 0 0 rg BT 337.40 442.10 Td (SPV) Tj ET Q q 0 0 0 rg BT 354.45 442.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 418.10 Td (As ) Tj ET Q q 0 0 0 rg BT 100.22 418.10 Td (Managing ) Tj ET Q q 0 0 0 rg BT 143.87 418.10 Td (Member ) Tj ET Q q 0 0 0 rg BT 180.85 418.10 Td (of ) Tj ET Q q 0 0 0 rg BT 192.29 418.10 Td (the ) Tj ET Q q 0 0 0 rg BT 207.61 418.10 Td (Managed ) Tj ET Q q 0 0 0 rg BT 247.92 418.10 Td (SPVs, ) Tj ET Q q 0 0 0 rg BT 275.76 418.10 Td (we ) Tj ET Q q 0 0 0 rg BT 290.52 418.10 Td (are ) Tj ET Q q 0 0 0 rg BT 305.83 418.10 Td (entitled ) Tj ET Q q 0 0 0 rg BT 338.93 418.10 Td (to ) Tj ET Q q 0 0 0 rg BT 349.81 418.10 Td (carried ) Tj ET Q q 0 0 0 rg BT 380.67 418.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 413.21 418.10 Td (on ) Tj ET Q q 0 0 0 rg BT 426.31 418.10 Td (profits ) Tj ET Q q 0 0 0 rg BT 455.53 418.10 Td (generated ) Tj ET Q q 0 0 0 rg BT 497.49 418.10 Td (on ) Tj ET Q q 0 0 0 rg BT 510.60 418.10 Td (the ) Tj ET Q q 0 0 0 rg BT 525.92 418.10 Td (managed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (capital. ) Tj ET Q q 0 0 0 rg BT 82.00 406.10 Td (If ) Tj ET Q q 0 0 0 rg BT 91.51 406.10 Td (the ) Tj ET Q q 0 0 0 rg BT 106.57 406.10 Td (Managed ) Tj ET Q q 0 0 0 rg BT 146.63 406.10 Td (SPVs ) Tj ET Q q 0 0 0 rg BT 171.72 406.10 Td (were ) Tj ET Q q 0 0 0 rg BT 193.99 406.10 Td (liquidated ) Tj ET Q q 0 0 0 rg BT 236.83 406.10 Td (as ) Tj ET Q q 0 0 0 rg BT 248.01 406.10 Td (of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.84 406.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 317.78 406.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.78 406.10 Td (, ) Tj ET Q q 0 0 0 rg BT 343.13 406.10 Td (we ) Tj ET Q q 0 0 0 rg BT 357.63 406.10 Td (would ) Tj ET Q q 0 0 0 rg BT 385.48 406.10 Td (receive ) Tj ET Q q 0 0 0 rg BT 417.19 406.10 Td (approximately ) Tj ET Q q 0 0 0 rg BT 477.80 406.10 Td ($421,000. ) Tj ET Q q 0 0 0 rg BT 520.45 406.10 Td (W) Tj ET Q q 0 0 0 rg BT 529.08 406.10 Td (e ) Tj ET Q q 0 0 0 rg BT 536.37 406.10 Td (do ) Tj ET Q q 0 0 0 rg BT 549.22 406.10 Td (not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (include ) Tj ET Q q 0 0 0 rg BT 82.80 394.10 Td (accruals ) Tj ET Q q 0 0 0 rg BT 118.91 394.10 Td (for ) Tj ET Q q 0 0 0 rg BT 133.93 394.10 Td (carried ) Tj ET Q q 0 0 0 rg BT 165.05 394.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 197.84 394.10 Td (in ) Tj ET Q q 0 0 0 rg BT 208.98 394.10 Td (our ) Tj ET Q q 0 0 0 rg BT 225.68 394.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 264.02 394.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 309.59 394.10 Td (until ) Tj ET Q q 0 0 0 rg BT 331.29 394.10 Td (such ) Tj ET Q q 0 0 0 rg BT 352.98 394.10 Td (carried ) Tj ET Q q 0 0 0 rg BT 384.10 394.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 416.89 394.10 Td (is ) Tj ET Q q 0 0 0 rg BT 426.92 394.10 Td (received ) Tj ET Q q 0 0 0 rg BT 464.15 394.10 Td (and/or ) Tj ET Q q 0 0 0 rg BT 493.06 394.10 Td (the ) Tj ET Q q 0 0 0 rg BT 508.64 394.10 Td (possibility ) Tj ET Q q 0 0 0 rg BT 553.67 394.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (reversal ) Tj ET Q q 0 0 0 rg BT 84.08 382.10 Td (of ) Tj ET Q q 0 0 0 rg BT 94.85 382.10 Td (such ) Tj ET Q q 0 0 0 rg BT 115.62 382.10 Td (accrual ) Tj ET Q q 0 0 0 rg BT 146.91 382.10 Td (is ) Tj ET Q q 0 0 0 rg BT 156.02 382.10 Td (not ) Tj ET Q q 0 0 0 rg BT 171.24 382.10 Td (probable. ) Tj ET Q q 0 0 0 rg BT 210.98 382.10 Td (W) Tj ET Q q 0 0 0 rg BT 219.62 382.10 Td (e ) Tj ET Q q 0 0 0 rg BT 226.49 382.10 Td (assessed ) Tj ET Q q 0 0 0 rg BT 262.81 382.10 Td (the ) Tj ET Q q 0 0 0 rg BT 277.47 382.10 Td (possibility ) Tj ET Q q 0 0 0 rg BT 321.58 382.10 Td (of ) Tj ET Q q 0 0 0 rg BT 332.34 382.10 Td (a ) Tj ET Q q 0 0 0 rg BT 339.22 382.10 Td (reversal ) Tj ET Q q 0 0 0 rg BT 373.30 382.10 Td (of ) Tj ET Q q 0 0 0 rg BT 384.07 382.10 Td (such ) Tj ET Q q 0 0 0 rg BT 404.83 382.10 Td (accrual ) Tj ET Q q 0 0 0 rg BT 436.13 382.10 Td (as ) Tj ET Q q 0 0 0 rg BT 446.90 382.10 Td (probable ) Tj ET Q q 0 0 0 rg BT 484.32 382.10 Td (as ) Tj ET Q q 0 0 0 rg BT 495.09 382.10 Td (of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.92 382.10 Td (December31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 370.10 Td (, ) Tj ET Q q 0 0 0 rg BT 75.00 370.10 Td (and ) Tj ET Q q 0 0 0 rg BT 91.94 370.10 Td (therefore ) Tj ET Q q 0 0 0 rg BT 130.52 370.10 Td (do ) Tj ET Q q 0 0 0 rg BT 143.02 370.10 Td (not ) Tj ET Q q 0 0 0 rg BT 158.30 370.10 Td (include ) Tj ET Q q 0 0 0 rg BT 190.23 370.10 Td (such ) Tj ET Q q 0 0 0 rg BT 211.06 370.10 Td (accrual ) Tj ET Q q 0 0 0 rg BT 242.43 370.10 Td (in ) Tj ET Q q 0 0 0 rg BT 252.71 370.10 Td (our ) Tj ET Q q 0 0 0 rg BT 268.54 370.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 306.02 370.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 350.73 370.10 Td (as ) Tj ET Q q 0 0 0 rg BT 361.56 370.10 Td (of ) Tj ET Q q 0 0 0 rg BT 372.39 370.10 Td (that ) Tj ET Q q 0 0 0 rg BT 389.88 370.10 Td (date.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 358.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 86 344.7669921875 m 236.048828125 344.7669921875 l s q 0 0 0 rg BT 86.00 346.10 Td (Rent ) Tj ET Q q 0 0 0 rg BT 107.76 346.10 Td (Expense ) Tj ET Q q 0 0 0 rg BT 144.51 346.10 Td (and ) Tj ET Q q 0 0 0 rg BT 161.82 346.10 Td (Sub-lease ) Tj ET Q q 0 0 0 rg BT 203.56 346.10 Td (Income.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.05 346.10 Td ( ) Tj ET Q q 0 0 0 rg BT 238.92 346.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 257.34 346.10 Td (lease ) Tj ET Q q 0 0 0 rg BT 280.20 346.10 Td (at ) Tj ET Q q 0 0 0 rg BT 290.29 346.10 Td (1450 ) Tj ET Q q 0 0 0 rg BT 313.16 346.10 Td (Broadway) Tj ET Q q 0 0 0 rg BT 353.61 346.10 Td (, ) Tj ET Q q 0 0 0 rg BT 358.98 346.10 Td (New ) Tj ET Q q 0 0 0 rg BT 380.31 346.10 Td (Y) Tj ET Q q 0 0 0 rg BT 386.53 346.10 Td (ork, ) Tj ET Q q 0 0 0 rg BT 405.23 346.10 Td (New ) Tj ET Q q 0 0 0 rg BT 426.55 346.10 Td (Y) Tj ET Q q 0 0 0 rg BT 432.77 346.10 Td (ork, ) Tj ET Q q 0 0 0 rg BT 451.48 346.10 Td (commenced ) Tj ET Q q 0 0 0 rg BT 502.66 346.10 Td (on ) Tj ET Q q 0 0 0 rg BT 515.53 346.10 Td (January ) Tj ET Q q 0 0 0 rg BT 549.50 346.10 Td (21, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (2010. ) Tj ET Q q 0 0 0 rg BT 74.70 334.10 Td (The ) Tj ET Q q 0 0 0 rg BT 92.62 334.10 Td (lease ) Tj ET Q q 0 0 0 rg BT 114.98 334.10 Td (expires ) Tj ET Q q 0 0 0 rg BT 146.24 334.10 Td (on ) Tj ET Q q 0 0 0 rg BT 158.61 334.10 Td (December ) Tj ET Q q 0 0 0 rg BT 202.07 334.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 216.94 334.10 Td (2019. ) Tj ET Q q 0 0 0 rg BT 241.65 334.10 Td (The ) Tj ET Q q 0 0 0 rg BT 259.57 334.10 Td (base ) Tj ET Q q 0 0 0 rg BT 279.71 334.10 Td (rent ) Tj ET Q q 0 0 0 rg BT 297.63 334.10 Td (is) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.30 334.10 Td ( ) Tj ET Q q 0 0 0 rg BT 306.68 334.10 Td ($36 ) Tj ET Q q 0 0 0 rg BT 324.05 334.10 Td (per ) Tj ET Q q 0 0 0 rg BT 339.19 334.10 Td (square ) Tj ET Q q 0 0 0 rg BT 367.67 334.10 Td (foot) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.77 334.10 Td ( ) Tj ET Q q 0 0 0 rg BT 386.15 334.10 Td (with ) Tj ET Q q 0 0 0 rg BT 406.30 334.10 Td (a ) Tj ET Q q 0 0 0 rg BT 413.12 334.10 Td (2.5 ) Tj ET Q q 0 0 0 rg BT 427.99 334.10 Td (percent ) Tj ET Q q 0 0 0 rg BT 459.79 334.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 494.92 334.10 Td (per ) Tj ET Q q 0 0 0 rg BT 510.06 334.10 Td (year ) Tj ET Q q 0 0 0 rg BT 529.64 334.10 Td (over ) Tj ET Q q 0 0 0 rg BT 549.78 334.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (10 ) Tj ET Q q 0 0 0 rg BT 62.15 322.10 Td (years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 83.25 322.10 Td ( ) Tj ET Q q 0 0 0 rg BT 85.41 322.10 Td (of ) Tj ET Q q 0 0 0 rg BT 95.89 322.10 Td (the ) Tj ET Q q 0 0 0 rg BT 110.26 322.10 Td (lease, ) Tj ET Q q 0 0 0 rg BT 134.90 322.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 165.38 322.10 Td (to ) Tj ET Q q 0 0 0 rg BT 175.31 322.10 Td (a ) Tj ET Q q 0 0 0 rg BT 181.90 322.10 Td (full ) Tj ET Q q 0 0 0 rg BT 197.94 322.10 Td (abatement ) Tj ET Q q 0 0 0 rg BT 241.18 322.10 Td (of ) Tj ET Q q 0 0 0 rg BT 251.67 322.10 Td (rent ) Tj ET Q q 0 0 0 rg BT 269.37 322.10 Td (for ) Tj ET Q q 0 0 0 rg BT 283.18 322.10 Td (four ) Tj ET Q q 0 0 0 rg BT 301.99 322.10 Td (months ) Tj ET Q q 0 0 0 rg BT 333.59 322.10 Td (and ) Tj ET Q q 0 0 0 rg BT 350.19 322.10 Td (a ) Tj ET Q q 0 0 0 rg BT 356.78 322.10 Td (rent ) Tj ET Q q 0 0 0 rg BT 374.48 322.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 399.39 322.10 Td (for ) Tj ET Q q 0 0 0 rg BT 413.21 322.10 Td (six ) Tj ET Q q 0 0 0 rg BT 427.03 322.10 Td (months ) Tj ET Q q 0 0 0 rg BT 458.63 322.10 Td (throughout ) Tj ET Q q 0 0 0 rg BT 504.67 322.10 Td (the ) Tj ET Q q 0 0 0 rg BT 519.04 322.10 Td (lease ) Tj ET Q q 0 0 0 rg BT 541.18 322.10 Td (term. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 310.10 Td (e ) Tj ET Q q 0 0 0 rg BT 65.96 310.10 Td (apply ) Tj ET Q q 0 0 0 rg BT 91.05 310.10 Td (these ) Tj ET Q q 0 0 0 rg BT 114.48 310.10 Td (rent ) Tj ET Q q 0 0 0 rg BT 132.91 310.10 Td (abatements, ) Tj ET Q q 0 0 0 rg BT 183.27 310.10 Td (credits, ) Tj ET Q q 0 0 0 rg BT 215.31 310.10 Td (escalations ) Tj ET Q q 0 0 0 rg BT 262.06 310.10 Td (and ) Tj ET Q q 0 0 0 rg BT 279.38 310.10 Td (landlord ) Tj ET Q q 0 0 0 rg BT 315.59 310.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 356.79 310.10 Td (on ) Tj ET Q q 0 0 0 rg BT 369.67 310.10 Td (a ) Tj ET Q q 0 0 0 rg BT 376.99 310.10 Td (straight-line ) Tj ET Q q 0 0 0 rg BT 428.19 310.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 451.07 310.10 Td (in ) Tj ET Q q 0 0 0 rg BT 461.73 310.10 Td (the ) Tj ET Q q 0 0 0 rg BT 476.83 310.10 Td (determination ) Tj ET Q q 0 0 0 rg BT 535.25 310.10 Td (of ) Tj ET Q q 0 0 0 rg BT 546.46 310.10 Td (rent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 84.71 298.10 Td (over ) Tj ET Q q 0 0 0 rg BT 104.98 298.10 Td (the ) Tj ET Q q 0 0 0 rg BT 119.69 298.10 Td (lease ) Tj ET Q q 0 0 0 rg BT 142.18 298.10 Td (term. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 274.10 Td (On ) Tj ET Q q 0 0 0 rg BT 100.56 274.10 Td (June ) Tj ET Q q 0 0 0 rg BT 121.23 274.10 Td (9, ) Tj ET Q q 0 0 0 rg BT 131.07 274.10 Td (2017, ) Tj ET Q q 0 0 0 rg BT 155.91 274.10 Td (we ) Tj ET Q q 0 0 0 rg BT 169.91 274.10 Td (entered ) Tj ET Q q 0 0 0 rg BT 201.67 274.10 Td (into ) Tj ET Q q 0 0 0 rg BT 219.56 274.10 Td (a ) Tj ET Q q 0 0 0 rg BT 226.34 274.10 Td (sub-lease ) Tj ET Q q 0 0 0 rg BT 265.89 274.10 Td (for ) Tj ET Q q 0 0 0 rg BT 279.89 274.10 Td (our ) Tj ET Q q 0 0 0 rg BT 295.56 274.10 Td (of) Tj ET Q q 0 0 0 rg BT 303.71 274.10 Td (fice ) Tj ET Q q 0 0 0 rg BT 321.03 274.10 Td (space ) Tj ET Q q 0 0 0 rg BT 345.58 274.10 Td (in ) Tj ET Q q 0 0 0 rg BT 355.69 274.10 Td (New ) Tj ET Q q 0 0 0 rg BT 376.57 274.10 Td (Y) Tj ET Q q 0 0 0 rg BT 382.79 274.10 Td (ork ) Tj ET Q q 0 0 0 rg BT 398.46 274.10 Td (that ) Tj ET Q q 0 0 0 rg BT 415.79 274.10 Td (began ) Tj ET Q q 0 0 0 rg BT 442.01 274.10 Td (on ) Tj ET Q q 0 0 0 rg BT 454.34 274.10 Td (June ) Tj ET Q q 0 0 0 rg BT 475.01 274.10 Td (15, ) Tj ET Q q 0 0 0 rg BT 489.85 274.10 Td (2017, ) Tj ET Q q 0 0 0 rg BT 514.69 274.10 Td (and ) Tj ET Q q 0 0 0 rg BT 531.47 274.10 Td (extends ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (through ) Tj ET Q q 0 0 0 rg BT 83.36 262.10 Td (the ) Tj ET Q q 0 0 0 rg BT 97.83 262.10 Td (remainder ) Tj ET Q q 0 0 0 rg BT 140.61 262.10 Td (of ) Tj ET Q q 0 0 0 rg BT 151.19 262.10 Td (our ) Tj ET Q q 0 0 0 rg BT 166.77 262.10 Td (lease ) Tj ET Q q 0 0 0 rg BT 189.00 262.10 Td (term ) Tj ET Q q 0 0 0 rg BT 209.58 262.10 Td (of ) Tj ET Q q 0 0 0 rg BT 220.16 262.10 Td (December ) Tj ET Q q 0 0 0 rg BT 263.49 262.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 278.24 262.10 Td (2019. ) Tj ET Q q 0 0 0 rg BT 302.99 262.10 Td ( ) Tj ET Q q 0 0 0 rg BT 305.08 262.10 Td (The ) Tj ET Q q 0 0 0 rg BT 322.88 262.10 Td (base ) Tj ET Q q 0 0 0 rg BT 342.90 262.10 Td (rent ) Tj ET Q q 0 0 0 rg BT 360.69 262.10 Td (is ) Tj ET Q q 0 0 0 rg BT 369.61 262.10 Td ($37 ) Tj ET Q q 0 0 0 rg BT 386.86 262.10 Td (per ) Tj ET Q q 0 0 0 rg BT 401.88 262.10 Td (square ) Tj ET Q q 0 0 0 rg BT 430.23 262.10 Td (foot ) Tj ET Q q 0 0 0 rg BT 448.59 262.10 Td (with ) Tj ET Q q 0 0 0 rg BT 468.62 262.10 Td (a ) Tj ET Q q 0 0 0 rg BT 475.30 262.10 Td (3 ) Tj ET Q q 0 0 0 rg BT 482.55 262.10 Td (percent ) Tj ET Q q 0 0 0 rg BT 514.23 262.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 549.23 262.10 Td (per ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (year) Tj ET Q q 0 0 0 rg BT 66.81 250.10 Td (, ) Tj ET Q q 0 0 0 rg BT 71.57 250.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 102.16 250.10 Td (to ) Tj ET Q q 0 0 0 rg BT 112.20 250.10 Td (an ) Tj ET Q q 0 0 0 rg BT 123.91 250.10 Td (abatement ) Tj ET Q q 0 0 0 rg BT 167.26 250.10 Td (of ) Tj ET Q q 0 0 0 rg BT 177.86 250.10 Td (rent ) Tj ET Q q 0 0 0 rg BT 195.67 250.10 Td (and ) Tj ET Q q 0 0 0 rg BT 212.37 250.10 Td (a ) Tj ET Q q 0 0 0 rg BT 219.07 250.10 Td (rent ) Tj ET Q q 0 0 0 rg BT 236.88 250.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 261.91 250.10 Td (to ) Tj ET Q q 0 0 0 rg BT 271.96 250.10 Td (the ) Tj ET Q q 0 0 0 rg BT 286.44 250.10 Td (sub-lessee ) Tj ET Q q 0 0 0 rg BT 329.80 250.10 Td (for ) Tj ET Q q 0 0 0 rg BT 343.73 250.10 Td (3.9 ) Tj ET Q q 0 0 0 rg BT 358.49 250.10 Td (months. ) Tj ET Q q 0 0 0 rg BT 392.70 250.10 Td ( ) Tj ET Q q 0 0 0 rg BT 394.80 250.10 Td (W) Tj ET Q q 0 0 0 rg BT 403.44 250.10 Td (e ) Tj ET Q q 0 0 0 rg BT 410.14 250.10 Td (apply ) Tj ET Q q 0 0 0 rg BT 434.63 250.10 Td (the ) Tj ET Q q 0 0 0 rg BT 449.11 250.10 Td (rent ) Tj ET Q q 0 0 0 rg BT 466.92 250.10 Td (abatement ) Tj ET Q q 0 0 0 rg BT 510.27 250.10 Td (and ) Tj ET Q q 0 0 0 rg BT 526.98 250.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 552.00 250.10 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (a ) Tj ET Q q 0 0 0 rg BT 56.94 238.10 Td (straight-line ) Tj ET Q q 0 0 0 rg BT 107.76 238.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 130.26 238.10 Td (in ) Tj ET Q q 0 0 0 rg BT 140.54 238.10 Td (the ) Tj ET Q q 0 0 0 rg BT 155.25 238.10 Td (determination ) Tj ET Q q 0 0 0 rg BT 213.29 238.10 Td (of ) Tj ET Q q 0 0 0 rg BT 224.12 238.10 Td (rental ) Tj ET Q q 0 0 0 rg BT 249.38 238.10 Td (income ) Tj ET Q q 0 0 0 rg BT 281.32 238.10 Td (over ) Tj ET Q q 0 0 0 rg BT 301.59 238.10 Td (the ) Tj ET Q q 0 0 0 rg BT 316.30 238.10 Td (sub-lease ) Tj ET Q q 0 0 0 rg BT 356.01 238.10 Td (term. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 214.10 Td (During ) Tj ET Q q 0 0 0 rg BT 117.09 214.10 Td (the ) Tj ET Q q 0 0 0 rg BT 132.07 214.10 Td (year ) Tj ET Q q 0 0 0 rg BT 152.04 214.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.69 214.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 237.53 214.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.53 214.10 Td (, ) Tj ET Q q 0 0 0 rg BT 262.80 214.10 Td (the ) Tj ET Q q 0 0 0 rg BT 277.78 214.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 319.43 214.10 Td (earned ) Tj ET Q q 0 0 0 rg BT 348.84 214.10 Td (rental ) Tj ET Q q 0 0 0 rg BT 374.36 214.10 Td (income ) Tj ET Q q 0 0 0 rg BT 406.56 214.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.66 214.10 Td ($248,666) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.16 214.10 Td (, ) Tj ET Q q 0 0 0 rg BT 460.42 214.10 Td (from ) Tj ET Q q 0 0 0 rg BT 482.62 214.10 Td (the ) Tj ET Q q 0 0 0 rg BT 497.60 214.10 Td (sub-lease ) Tj ET Q q 0 0 0 rg BT 537.57 214.10 Td (of ) Tj ET Q q 0 0 0 rg BT 548.67 214.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (of) Tj ET Q q 0 0 0 rg BT 58.15 202.10 Td (fice ) Tj ET Q q 0 0 0 rg BT 76.32 202.10 Td (space ) Tj ET Q q 0 0 0 rg BT 101.71 202.10 Td (in ) Tj ET Q q 0 0 0 rg BT 112.67 202.10 Td (New ) Tj ET Q q 0 0 0 rg BT 134.26 202.10 Td (Y) Tj ET Q q 0 0 0 rg BT 140.48 202.10 Td (ork, ) Tj ET Q q 0 0 0 rg BT 159.49 202.10 Td (which ) Tj ET Q q 0 0 0 rg BT 187.11 202.10 Td (is ) Tj ET Q q 0 0 0 rg BT 196.97 202.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 235.13 202.10 Td (as ) Tj ET Q q 0 0 0 rg BT 246.64 202.10 Td ("Sub-lease ) Tj ET Q q 0 0 0 rg BT 292.78 202.10 Td (income" ) Tj ET Q q 0 0 0 rg BT 329.48 202.10 Td (under ) Tj ET Q q 0 0 0 rg BT 355.43 202.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 402.49 202.10 Td (income ) Tj ET Q q 0 0 0 rg BT 435.11 202.10 Td (in ) Tj ET Q q 0 0 0 rg BT 446.07 202.10 Td (the ) Tj ET Q q 0 0 0 rg BT 461.47 202.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 509.23 202.10 Td (Consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (Statement ) Tj ET Q q 0 0 0 rg BT 92.49 190.10 Td (of ) Tj ET Q q 0 0 0 rg BT 103.32 190.10 Td (Operations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 166.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 166.10 Td (e ) Tj ET Q q 0 0 0 rg BT 102.03 166.10 Td (currently ) Tj ET Q q 0 0 0 rg BT 141.07 166.10 Td (lease ) Tj ET Q q 0 0 0 rg BT 164.01 166.10 Td (and ) Tj ET Q q 0 0 0 rg BT 181.40 166.10 Td (run ) Tj ET Q q 0 0 0 rg BT 197.68 166.10 Td (our ) Tj ET Q q 0 0 0 rg BT 213.96 166.10 Td (daily ) Tj ET Q q 0 0 0 rg BT 236.90 166.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 281.51 166.10 Td (in ) Tj ET Q q 0 0 0 rg BT 292.24 166.10 Td (approximately ) Tj ET Q q 0 0 0 rg BT 352.95 166.10 Td (1,250 ) Tj ET Q q 0 0 0 rg BT 378.40 166.10 Td (square ) Tj ET Q q 0 0 0 rg BT 407.45 166.10 Td (feet ) Tj ET Q q 0 0 0 rg BT 425.38 166.10 Td (of ) Tj ET Q q 0 0 0 rg BT 436.67 166.10 Td (of) Tj ET Q q 0 0 0 rg BT 444.81 166.10 Td (fice ) Tj ET Q q 0 0 0 rg BT 462.75 166.10 Td (space ) Tj ET Q q 0 0 0 rg BT 487.91 166.10 Td (in ) Tj ET Q q 0 0 0 rg BT 498.64 166.10 Td (Montclair) Tj ET Q q 0 0 0 rg BT 537.67 166.10 Td (, ) Tj ET Q q 0 0 0 rg BT 543.12 166.10 Td (New ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.10 Td (Jersey) Tj ET Q q 0 0 0 rg BT 74.34 154.10 Td (, ) Tj ET Q q 0 0 0 rg BT 79.13 154.10 Td (on ) Tj ET Q q 0 0 0 rg BT 91.43 154.10 Td (a ) Tj ET Q q 0 0 0 rg BT 98.16 154.10 Td (month-to-month ) Tj ET Q q 0 0 0 rg BT 166.01 154.10 Td (basis. ) Tj ET Q q 0 0 0 rg BT 190.80 154.10 Td ( ) Tj ET Q q 0 0 0 rg BT 192.93 154.10 Td (The ) Tj ET Q q 0 0 0 rg BT 210.77 154.10 Td (base ) Tj ET Q q 0 0 0 rg BT 230.83 154.10 Td (rent ) Tj ET Q q 0 0 0 rg BT 248.67 154.10 Td (is ) Tj ET Q q 0 0 0 rg BT 257.64 154.10 Td (approximately ) Tj ET Q q 0 0 0 rg BT 317.69 154.10 Td ($26 ) Tj ET Q q 0 0 0 rg BT 334.98 154.10 Td (per ) Tj ET Q q 0 0 0 rg BT 350.05 154.10 Td (square ) Tj ET Q q 0 0 0 rg BT 378.44 154.10 Td (foot. ) Tj ET Q q 0 0 0 rg BT 399.34 154.10 Td ( ) Tj ET Q q 0 0 0 rg BT 401.63 154.10 Td (Either ) Tj ET Q q 0 0 0 rg BT 428.36 154.10 Td (the ) Tj ET Q q 0 0 0 rg BT 442.87 154.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 484.05 154.10 Td (or ) Tj ET Q q 0 0 0 rg BT 494.68 154.10 Td (the ) Tj ET Q q 0 0 0 rg BT 509.19 154.10 Td (landlord ) Tj ET Q q 0 0 0 rg BT 544.81 154.10 Td (may ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (terminate ) Tj ET Q q 0 0 0 rg BT 90.26 142.10 Td (the ) Tj ET Q q 0 0 0 rg BT 104.98 142.10 Td (lease ) Tj ET Q q 0 0 0 rg BT 127.46 142.10 Td (at ) Tj ET Q q 0 0 0 rg BT 137.18 142.10 Td (any ) Tj ET Q q 0 0 0 rg BT 154.12 142.10 Td (time ) Tj ET Q q 0 0 0 rg BT 174.39 142.10 Td (with ) Tj ET Q q 0 0 0 rg BT 194.67 142.10 Td (two ) Tj ET Q q 0 0 0 rg BT 212.17 142.10 Td (months' ) Tj ET Q q 0 0 0 rg BT 245.92 142.10 Td (written ) Tj ET Q q 0 0 0 rg BT 276.74 142.10 Td (notice ) Tj ET Q q 0 0 0 rg BT 303.68 142.10 Td (to ) Tj ET Q q 0 0 0 rg BT 313.96 142.10 Td (either ) Tj ET Q q 0 0 0 rg BT 339.22 142.10 Td (party) Tj ET Q q 0 0 0 rg BT 359.12 142.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 86 116.76699218750002 m 462.64306640625 116.76699218750002 l s q 0 0 0 rg BT 86.00 118.10 Td (Realized ) Tj ET Q q 0 0 0 rg BT 123.75 118.10 Td (Gain ) Tj ET Q q 0 0 0 rg BT 145.95 118.10 Td (or ) Tj ET Q q 0 0 0 rg BT 157.05 118.10 Td (Loss ) Tj ET Q q 0 0 0 rg BT 178.71 118.10 Td (and ) Tj ET Q q 0 0 0 rg BT 195.91 118.10 Td (Unrealized ) Tj ET Q q 0 0 0 rg BT 241.93 118.10 Td (Appreciation ) Tj ET Q q 0 0 0 rg BT 296.90 118.10 Td (or ) Tj ET Q q 0 0 0 rg BT 307.99 118.10 Td (Depreciation ) Tj ET Q q 0 0 0 rg BT 362.40 118.10 Td (of ) Tj ET Q q 0 0 0 rg BT 373.50 118.10 Td (Portfolio ) Tj ET Q q 0 0 0 rg BT 411.82 118.10 Td (Investments.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.64 118.10 Td ( ) Tj ET Q q 0 0 0 rg BT 465.41 118.10 Td ( ) Tj ET Q q 0 0 0 rg BT 468.18 118.10 Td (Realized ) Tj ET Q q 0 0 0 rg BT 505.92 118.10 Td (gain ) Tj ET Q q 0 0 0 rg BT 525.90 118.10 Td (or ) Tj ET Q q 0 0 0 rg BT 537.00 118.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 555.33 118.10 Td (is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 95.44 106.10 Td (when ) Tj ET Q q 0 0 0 rg BT 118.69 106.10 Td (an ) Tj ET Q q 0 0 0 rg BT 129.71 106.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 175.17 106.10 Td (is ) Tj ET Q q 0 0 0 rg BT 183.42 106.10 Td (disposed ) Tj ET Q q 0 0 0 rg BT 220.00 106.10 Td (of ) Tj ET Q q 0 0 0 rg BT 229.92 106.10 Td (and ) Tj ET Q q 0 0 0 rg BT 245.94 106.10 Td (is ) Tj ET Q q 0 0 0 rg BT 254.19 106.10 Td (computed ) Tj ET Q q 0 0 0 rg BT 295.21 106.10 Td (as ) Tj ET Q q 0 0 0 rg BT 305.12 106.10 Td (the ) Tj ET Q q 0 0 0 rg BT 318.92 106.10 Td (dif) Tj ET Q q 0 0 0 rg BT 329.84 106.10 Td (ference ) Tj ET Q q 0 0 0 rg BT 360.84 106.10 Td (between ) Tj ET Q q 0 0 0 rg BT 395.74 106.10 Td (the ) Tj ET Q q 0 0 0 rg BT 409.54 106.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 455.70 106.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 473.39 106.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 494.97 106.10 Td (in ) Tj ET Q q 0 0 0 rg BT 504.33 106.10 Td (the ) Tj ET Q q 0 0 0 rg BT 518.13 106.10 Td (investment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.10 Td (at ) Tj ET Q q 0 0 0 rg BT 59.83 94.10 Td (the ) Tj ET Q q 0 0 0 rg BT 74.66 94.10 Td (disposition ) Tj ET Q q 0 0 0 rg BT 121.17 94.10 Td (date ) Tj ET Q q 0 0 0 rg BT 140.43 94.10 Td (and ) Tj ET Q q 0 0 0 rg BT 157.49 94.10 Td (the ) Tj ET Q q 0 0 0 rg BT 172.31 94.10 Td (net ) Tj ET Q q 0 0 0 rg BT 187.14 94.10 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 225.29 94.10 Td (received ) Tj ET Q q 0 0 0 rg BT 261.77 94.10 Td (from ) Tj ET Q q 0 0 0 rg BT 283.82 94.10 Td (such ) Tj ET Q q 0 0 0 rg BT 304.76 94.10 Td (disposition. ) Tj ET Q q 0 0 0 rg BT 353.77 94.10 Td (Realized ) Tj ET Q q 0 0 0 rg BT 391.36 94.10 Td (gain ) Tj ET Q q 0 0 0 rg BT 411.19 94.10 Td (or ) Tj ET Q q 0 0 0 rg BT 422.13 94.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 440.31 94.10 Td (on ) Tj ET Q q 0 0 0 rg BT 452.92 94.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 499.41 94.10 Td (transactions ) Tj ET Q q 0 0 0 rg BT 549.79 94.10 Td (are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.10 Td (determined ) Tj ET Q q 0 0 0 rg BT 96.92 82.10 Td (by ) Tj ET Q q 0 0 0 rg BT 108.86 82.10 Td (specific ) Tj ET Q q 0 0 0 rg BT 141.89 82.10 Td (identification. ) Tj ET Q q 0 0 0 rg BT 199.65 82.10 Td (Unrealized ) Tj ET Q q 0 0 0 rg BT 245.45 82.10 Td (appreciation ) Tj ET Q q 0 0 0 rg BT 296.81 82.10 Td (or ) Tj ET Q q 0 0 0 rg BT 307.08 82.10 Td (depreciation ) Tj ET Q q 0 0 0 rg BT 358.44 82.10 Td (is ) Tj ET Q q 0 0 0 rg BT 367.05 82.10 Td (computed ) Tj ET Q q 0 0 0 rg BT 408.42 82.10 Td (as ) Tj ET Q q 0 0 0 rg BT 418.69 82.10 Td (the ) Tj ET Q q 0 0 0 rg BT 432.85 82.10 Td (dif) Tj ET Q q 0 0 0 rg BT 443.78 82.10 Td (ference ) Tj ET Q q 0 0 0 rg BT 475.13 82.10 Td (between ) Tj ET Q q 0 0 0 rg BT 510.39 82.10 Td (the ) Tj ET Q q 0 0 0 rg BT 524.54 82.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 540.36 82.10 Td (value ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 70.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.83 70.10 Td (the ) Tj ET Q q 0 0 0 rg BT 75.55 70.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 121.93 70.10 Td (and ) Tj ET Q q 0 0 0 rg BT 138.87 70.10 Td (the ) Tj ET Q q 0 0 0 rg BT 153.58 70.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 172.19 70.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 194.69 70.10 Td (of ) Tj ET Q q 0 0 0 rg BT 205.52 70.10 Td (such ) Tj ET Q q 0 0 0 rg BT 226.35 70.10 Td (investment.) Tj ET Q endstream endobj 55 0 obj <> endobj 56 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (27) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 86 740.7669921875 m 143.9970703125 740.7669921875 l s q 0 0 0 rg BT 86.00 742.10 Td (Income ) Tj ET Q q 0 0 0 rg BT 118.32 742.10 Td (T) Tj ET Q q 0 0 0 rg BT 123.73 742.10 Td (axes.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.00 742.10 Td ( ) Tj ET Q q 0 0 0 rg BT 146.51 742.10 Td ( ) Tj ET Q q 0 0 0 rg BT 148.47 742.10 Td (As ) Tj ET Q q 0 0 0 rg BT 162.10 742.10 Td (discussed ) Tj ET Q q 0 0 0 rg BT 202.94 742.10 Td (in ) Tj ET Q q 0 0 0 rg BT 213.24 742.10 Td (Note ) Tj ET Q q 0 0 0 rg BT 235.19 742.10 Td (9. ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 245.20458984375 740.7669921875 m 300.70166015625 740.7669921875 l s q 0 0 0 rg BT 245.20 742.10 Td (Income ) Tj ET Q q 0 0 0 rg BT 277.52 742.10 Td (T) Tj ET Q q 0 0 0 rg BT 282.93 742.10 Td (axes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.70 742.10 Td (, ) Tj ET Q q 0 0 0 rg BT 305.72 742.10 Td (we ) Tj ET Q q 0 0 0 rg BT 319.89 742.10 Td (did ) Tj ET Q q 0 0 0 rg BT 335.18 742.10 Td (not ) Tj ET Q q 0 0 0 rg BT 350.48 742.10 Td (qualify ) Tj ET Q q 0 0 0 rg BT 381.32 742.10 Td (as ) Tj ET Q q 0 0 0 rg BT 392.16 742.10 Td (a ) Tj ET Q q 0 0 0 rg BT 399.11 742.10 Td (Regulated ) Tj ET Q q 0 0 0 rg BT 442.17 742.10 Td (Investment ) Tj ET Q q 0 0 0 rg BT 489.12 742.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 530.52 742.10 Td (\("RIC"\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (under ) Tj ET Q q 0 0 0 rg BT 75.18 730.10 Td (Subchapter ) Tj ET Q q 0 0 0 rg BT 122.58 730.10 Td (M ) Tj ET Q q 0 0 0 rg BT 133.88 730.10 Td (of ) Tj ET Q q 0 0 0 rg BT 144.62 730.10 Td (the ) Tj ET Q q 0 0 0 rg BT 159.25 730.10 Td (Code ) Tj ET Q q 0 0 0 rg BT 182.77 730.10 Td (in ) Tj ET Q q 0 0 0 rg BT 192.96 730.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 215.37 730.10 Td (and ) Tj ET Q q 0 0 0 rg BT 232.22 730.10 Td (therefore ) Tj ET Q q 0 0 0 rg BT 270.71 730.10 Td (will ) Tj ET Q q 0 0 0 rg BT 288.68 730.10 Td (be ) Tj ET Q q 0 0 0 rg BT 300.53 730.10 Td (taxed ) Tj ET Q q 0 0 0 rg BT 324.60 730.10 Td (as ) Tj ET Q q 0 0 0 rg BT 335.34 730.10 Td (a ) Tj ET Q q 0 0 0 rg BT 342.19 730.10 Td (C ) Tj ET Q q 0 0 0 rg BT 351.27 730.10 Td (Corporation. ) Tj ET Q q 0 0 0 rg BT 404.33 730.10 Td (W) Tj ET Q q 0 0 0 rg BT 412.97 730.10 Td (e ) Tj ET Q q 0 0 0 rg BT 419.82 730.10 Td (did ) Tj ET Q q 0 0 0 rg BT 435.01 730.10 Td (not ) Tj ET Q q 0 0 0 rg BT 450.20 730.10 Td (accrue ) Tj ET Q q 0 0 0 rg BT 478.69 730.10 Td (for ) Tj ET Q q 0 0 0 rg BT 492.76 730.10 Td (any ) Tj ET Q q 0 0 0 rg BT 509.61 730.10 Td (income ) Tj ET Q q 0 0 0 rg BT 541.46 730.10 Td (taxes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (as ) Tj ET Q q 0 0 0 rg BT 60.91 718.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.81 718.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 130.48 718.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.48 718.10 Td (, ) Tj ET Q q 0 0 0 rg BT 155.55 718.10 Td (as ) Tj ET Q q 0 0 0 rg BT 166.46 718.10 Td (we ) Tj ET Q q 0 0 0 rg BT 180.70 718.10 Td (did ) Tj ET Q q 0 0 0 rg BT 196.05 718.10 Td (not ) Tj ET Q q 0 0 0 rg BT 211.41 718.10 Td (generate ) Tj ET Q q 0 0 0 rg BT 247.85 718.10 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 284.30 718.10 Td (income ) Tj ET Q q 0 0 0 rg BT 316.31 718.10 Td (through ) Tj ET Q q 0 0 0 rg BT 350.00 718.10 Td (that ) Tj ET Q q 0 0 0 rg BT 367.57 718.10 Td (date. ) Tj ET Q q 0 0 0 rg BT 389.12 718.10 Td (While ) Tj ET Q q 0 0 0 rg BT 416.13 718.10 Td (we ) Tj ET Q q 0 0 0 rg BT 430.36 718.10 Td (did ) Tj ET Q q 0 0 0 rg BT 445.72 718.10 Td (not ) Tj ET Q q 0 0 0 rg BT 461.08 718.10 Td (qualify ) Tj ET Q q 0 0 0 rg BT 491.98 718.10 Td (as ) Tj ET Q q 0 0 0 rg BT 502.88 718.10 Td (a ) Tj ET Q q 0 0 0 rg BT 509.90 718.10 Td (RIC ) Tj ET Q q 0 0 0 rg BT 529.15 718.10 Td (in ) Tj ET Q q 0 0 0 rg BT 539.50 718.10 Td (2018, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (we ) Tj ET Q q 0 0 0 rg BT 63.88 706.10 Td (currently ) Tj ET Q q 0 0 0 rg BT 102.20 706.10 Td (intend ) Tj ET Q q 0 0 0 rg BT 129.42 706.10 Td (to ) Tj ET Q q 0 0 0 rg BT 139.42 706.10 Td (qualify ) Tj ET Q q 0 0 0 rg BT 169.97 706.10 Td (as ) Tj ET Q q 0 0 0 rg BT 180.52 706.10 Td (a ) Tj ET Q q 0 0 0 rg BT 187.18 706.10 Td (RIC ) Tj ET Q q 0 0 0 rg BT 206.08 706.10 Td (in ) Tj ET Q q 0 0 0 rg BT 216.08 706.10 Td (future ) Tj ET Q q 0 0 0 rg BT 242.18 706.10 Td (years ) Tj ET Q q 0 0 0 rg BT 265.50 706.10 Td (. ) Tj ET Q q 0 0 0 rg BT 270.06 706.10 Td (The ) Tj ET Q q 0 0 0 rg BT 287.83 706.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 328.94 706.10 Td (has ) Tj ET Q q 0 0 0 rg BT 344.50 706.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 373.37 706.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 391.15 706.10 Td (carryforwards ) Tj ET Q q 0 0 0 rg BT 449.46 706.10 Td (that ) Tj ET Q q 0 0 0 rg BT 466.67 706.10 Td (can ) Tj ET Q q 0 0 0 rg BT 482.77 706.10 Td (be ) Tj ET Q q 0 0 0 rg BT 494.44 706.10 Td (used ) Tj ET Q q 0 0 0 rg BT 514.99 706.10 Td (to ) Tj ET Q q 0 0 0 rg BT 524.99 706.10 Td (of) Tj ET Q q 0 0 0 rg BT 533.14 706.10 Td (fset ) Tj ET Q q 0 0 0 rg BT 549.80 706.10 Td (net ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (realized ) Tj ET Q q 0 0 0 rg BT 84.60 694.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 114.20 694.10 Td (gains. ) Tj ET Q q 0 0 0 rg BT 140.56 694.10 Td (The ) Tj ET Q q 0 0 0 rg BT 159.06 694.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 200.90 694.10 Td (also ) Tj ET Q q 0 0 0 rg BT 219.97 694.10 Td (has ) Tj ET Q q 0 0 0 rg BT 236.25 694.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 276.97 694.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 295.49 694.10 Td (carryforwards ) Tj ET Q q 0 0 0 rg BT 354.53 694.10 Td (that ) Tj ET Q q 0 0 0 rg BT 372.48 694.10 Td (can ) Tj ET Q q 0 0 0 rg BT 389.31 694.10 Td (be ) Tj ET Q q 0 0 0 rg BT 401.71 694.10 Td (used ) Tj ET Q q 0 0 0 rg BT 422.99 694.10 Td (to ) Tj ET Q q 0 0 0 rg BT 433.73 694.10 Td (of) Tj ET Q q 0 0 0 rg BT 441.88 694.10 Td (fset ) Tj ET Q q 0 0 0 rg BT 459.27 694.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 499.99 694.10 Td (income ) Tj ET Q q 0 0 0 rg BT 532.38 694.10 Td (and ) Tj ET Q q 0 0 0 rg BT 549.78 694.10 Td (net ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (realized ) Tj ET Q q 0 0 0 rg BT 84.51 682.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 114.04 682.10 Td (gains ) Tj ET Q q 0 0 0 rg BT 138.02 682.10 Td (in ) Tj ET Q q 0 0 0 rg BT 148.67 682.10 Td (years ) Tj ET Q q 0 0 0 rg BT 172.64 682.10 Td (when ) Tj ET Q q 0 0 0 rg BT 197.18 682.10 Td (we ) Tj ET Q q 0 0 0 rg BT 211.71 682.10 Td (fail ) Tj ET Q q 0 0 0 rg BT 227.91 682.10 Td (to ) Tj ET Q q 0 0 0 rg BT 238.56 682.10 Td (qualify ) Tj ET Q q 0 0 0 rg BT 269.76 682.10 Td (as ) Tj ET Q q 0 0 0 rg BT 280.96 682.10 Td (a ) Tj ET Q q 0 0 0 rg BT 288.28 682.10 Td (RIC. ) Tj ET Q q 0 0 0 rg BT 310.32 682.10 Td ( ) Tj ET Q q 0 0 0 rg BT 312.99 682.10 Td (The ) Tj ET Q q 0 0 0 rg BT 331.41 682.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 373.17 682.10 Td (recognizes ) Tj ET Q q 0 0 0 rg BT 418.79 682.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 451.10 682.10 Td (and ) Tj ET Q q 0 0 0 rg BT 468.41 682.10 Td (penalties ) Tj ET Q q 0 0 0 rg BT 506.83 682.10 Td (in ) Tj ET Q q 0 0 0 rg BT 517.48 682.10 Td (income ) Tj ET Q q 0 0 0 rg BT 549.79 682.10 Td (tax ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (expense. ) Tj ET Q q 0 0 0 rg BT 86.17 670.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.80 670.10 Td (e ) Tj ET Q q 0 0 0 rg BT 100.81 670.10 Td (pay ) Tj ET Q q 0 0 0 rg BT 116.82 670.10 Td (federal, ) Tj ET Q q 0 0 0 rg BT 148.65 670.10 Td (state ) Tj ET Q q 0 0 0 rg BT 168.55 670.10 Td (and ) Tj ET Q q 0 0 0 rg BT 184.56 670.10 Td (local ) Tj ET Q q 0 0 0 rg BT 205.56 670.10 Td (income ) Tj ET Q q 0 0 0 rg BT 236.57 670.10 Td (taxes ) Tj ET Q q 0 0 0 rg BT 258.69 670.10 Td (on ) Tj ET Q q 0 0 0 rg BT 270.26 670.10 Td (behalf ) Tj ET Q q 0 0 0 rg BT 296.82 670.10 Td (of ) Tj ET Q q 0 0 0 rg BT 306.72 670.10 Td (our ) Tj ET Q q 0 0 0 rg BT 321.62 670.10 Td (wholly ) Tj ET Q q 0 0 0 rg BT 350.98 670.10 Td (owned ) Tj ET Q q 0 0 0 rg BT 379.21 670.10 Td (subsidiary) Tj ET Q q 0 0 0 rg BT 419.67 670.10 Td (, ) Tj ET Q q 0 0 0 rg BT 423.63 670.10 Td (V) Tj ET Q q 0 0 0 rg BT 429.74 670.10 Td (entures, ) Tj ET Q q 0 0 0 rg BT 462.69 670.10 Td (which ) Tj ET Q q 0 0 0 rg BT 488.70 670.10 Td (is ) Tj ET Q q 0 0 0 rg BT 496.94 670.10 Td (a ) Tj ET Q q 0 0 0 rg BT 502.95 670.10 Td (C ) Tj ET Q q 0 0 0 rg BT 511.19 670.10 Td (Corporation. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (See ) Tj ET Q q 0 0 0 rg BT 66.94 658.10 Td (Note ) Tj ET Q q 0 0 0 rg BT 88.88 658.10 Td (9. ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 98.876953125 656.7669921875 m 154.3603515625 656.7669921875 l s q 0 0 0 rg BT 98.88 658.10 Td (Income ) Tj ET Q q 0 0 0 rg BT 131.18 658.10 Td (T) Tj ET Q q 0 0 0 rg BT 136.59 658.10 Td (axes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.36 658.10 Td ( ) Tj ET Q q 0 0 0 rg BT 156.86 658.10 Td (for ) Tj ET Q q 0 0 0 rg BT 171.02 658.10 Td (further ) Tj ET Q q 0 0 0 rg BT 200.73 658.10 Td (discussion.) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 86 632.7669921875 m 207.71484375 632.7669921875 l s q 0 0 0 rg BT 86.00 634.10 Td (Foreign ) Tj ET Q q 0 0 0 rg BT 120.07 634.10 Td (Currency ) Tj ET Q q 0 0 0 rg BT 160.02 634.10 Td (T) Tj ET Q q 0 0 0 rg BT 165.78 634.10 Td (ranslation.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 207.71 634.10 Td ( ) Tj ET Q q 0 0 0 rg BT 210.68 634.10 Td ( ) Tj ET Q q 0 0 0 rg BT 213.42 634.10 Td (The ) Tj ET Q q 0 0 0 rg BT 231.93 634.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 278.77 634.10 Td (records ) Tj ET Q q 0 0 0 rg BT 311.16 634.10 Td (of ) Tj ET Q q 0 0 0 rg BT 322.45 634.10 Td (the ) Tj ET Q q 0 0 0 rg BT 337.63 634.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 379.47 634.10 Td (are ) Tj ET Q q 0 0 0 rg BT 394.64 634.10 Td (maintained ) Tj ET Q q 0 0 0 rg BT 442.03 634.10 Td (in ) Tj ET Q q 0 0 0 rg BT 452.77 634.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 473.52 634.10 Td (dollars. ) Tj ET Q q 0 0 0 rg BT 505.54 634.10 Td (All ) Tj ET Q q 0 0 0 rg BT 521.28 634.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 547.57 634.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 90.55 622.10 Td (denominated ) Tj ET Q q 0 0 0 rg BT 145.53 622.10 Td (in ) Tj ET Q q 0 0 0 rg BT 156.64 622.10 Td (foreign ) Tj ET Q q 0 0 0 rg BT 188.85 622.10 Td (currencies ) Tj ET Q q 0 0 0 rg BT 233.26 622.10 Td (are ) Tj ET Q q 0 0 0 rg BT 248.80 622.10 Td (translated ) Tj ET Q q 0 0 0 rg BT 291.01 622.10 Td (into ) Tj ET Q q 0 0 0 rg BT 309.89 622.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 331.01 622.10 Td (dollars ) Tj ET Q q 0 0 0 rg BT 361.56 622.10 Td (based ) Tj ET Q q 0 0 0 rg BT 387.66 622.10 Td (on ) Tj ET Q q 0 0 0 rg BT 400.99 622.10 Td (the ) Tj ET Q q 0 0 0 rg BT 416.54 622.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 434.85 622.10 Td (of ) Tj ET Q q 0 0 0 rg BT 446.52 622.10 Td (exchange ) Tj ET Q q 0 0 0 rg BT 487.60 622.10 Td (of ) Tj ET Q q 0 0 0 rg BT 499.26 622.10 Td (such ) Tj ET Q q 0 0 0 rg BT 520.92 622.10 Td (currencies ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (against ) Tj ET Q q 0 0 0 rg BT 80.39 610.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 100.23 610.10 Td (dollars ) Tj ET Q q 0 0 0 rg BT 129.51 610.10 Td (on ) Tj ET Q q 0 0 0 rg BT 141.57 610.10 Td (the ) Tj ET Q q 0 0 0 rg BT 155.84 610.10 Td (date ) Tj ET Q q 0 0 0 rg BT 174.56 610.10 Td (of ) Tj ET Q q 0 0 0 rg BT 184.95 610.10 Td (valuation. ) Tj ET Q q 0 0 0 rg BT 226.57 610.10 Td (The ) Tj ET Q q 0 0 0 rg BT 244.18 610.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 285.13 610.10 Td (does ) Tj ET Q q 0 0 0 rg BT 305.52 610.10 Td (not ) Tj ET Q q 0 0 0 rg BT 320.36 610.10 Td (isolate ) Tj ET Q q 0 0 0 rg BT 348.52 610.10 Td (the ) Tj ET Q q 0 0 0 rg BT 362.80 610.10 Td (portion ) Tj ET Q q 0 0 0 rg BT 393.75 610.10 Td (of ) Tj ET Q q 0 0 0 rg BT 404.14 610.10 Td (the ) Tj ET Q q 0 0 0 rg BT 418.42 610.10 Td (results ) Tj ET Q q 0 0 0 rg BT 446.58 610.10 Td (of ) Tj ET Q q 0 0 0 rg BT 456.98 610.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 500.69 610.10 Td (that ) Tj ET Q q 0 0 0 rg BT 517.75 610.10 Td (arises ) Tj ET Q q 0 0 0 rg BT 542.58 610.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 84.71 598.10 Td (in ) Tj ET Q q 0 0 0 rg BT 94.99 598.10 Td (foreign ) Tj ET Q q 0 0 0 rg BT 126.36 598.10 Td (currency ) Tj ET Q q 0 0 0 rg BT 163.84 598.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 185.21 598.10 Td (on ) Tj ET Q q 0 0 0 rg BT 197.71 598.10 Td (investments ) Tj ET Q q 0 0 0 rg BT 247.99 598.10 Td (held ) Tj ET Q q 0 0 0 rg BT 267.71 598.10 Td (on ) Tj ET Q q 0 0 0 rg BT 280.21 598.10 Td (its ) Tj ET Q q 0 0 0 rg BT 292.15 598.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 347.43 598.10 Td (Statement ) Tj ET Q q 0 0 0 rg BT 389.92 598.10 Td (of ) Tj ET Q q 0 0 0 rg BT 400.75 598.10 Td (Operations.) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 86 572.7669921875 m 181.01220703125 572.7669921875 l s q 0 0 0 rg BT 86.00 574.10 Td (Securities ) Tj ET Q q 0 0 0 rg BT 127.77 574.10 Td (T) Tj ET Q q 0 0 0 rg BT 133.53 574.10 Td (ransactions.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.01 574.10 Td ( ) Tj ET Q q 0 0 0 rg BT 183.53 574.10 Td ( ) Tj ET Q q 0 0 0 rg BT 186.05 574.10 Td (Securities ) Tj ET Q q 0 0 0 rg BT 228.00 574.10 Td (transactions ) Tj ET Q q 0 0 0 rg BT 278.28 574.10 Td (are ) Tj ET Q q 0 0 0 rg BT 293.01 574.10 Td (accounted ) Tj ET Q q 0 0 0 rg BT 336.06 574.10 Td (for ) Tj ET Q q 0 0 0 rg BT 350.24 574.10 Td (on ) Tj ET Q q 0 0 0 rg BT 362.76 574.10 Td (the ) Tj ET Q q 0 0 0 rg BT 377.49 574.10 Td (date ) Tj ET Q q 0 0 0 rg BT 396.67 574.10 Td (the ) Tj ET Q q 0 0 0 rg BT 411.40 574.10 Td (transaction ) Tj ET Q q 0 0 0 rg BT 457.79 574.10 Td (for ) Tj ET Q q 0 0 0 rg BT 471.97 574.10 Td (the ) Tj ET Q q 0 0 0 rg BT 486.71 574.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 524.76 574.10 Td (or ) Tj ET Q q 0 0 0 rg BT 535.61 574.10 Td (sale ) Tj ET Q q 0 0 0 rg BT 553.68 574.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (the ) Tj ET Q q 0 0 0 rg BT 65.56 562.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 106.67 562.10 Td (is ) Tj ET Q q 0 0 0 rg BT 116.69 562.10 Td (entered ) Tj ET Q q 0 0 0 rg BT 149.46 562.10 Td (into ) Tj ET Q q 0 0 0 rg BT 168.36 562.10 Td (by ) Tj ET Q q 0 0 0 rg BT 181.71 562.10 Td (the ) Tj ET Q q 0 0 0 rg BT 197.27 562.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 239.50 562.10 Td (\(i.e., ) Tj ET Q q 0 0 0 rg BT 260.90 562.10 Td (trade ) Tj ET Q q 0 0 0 rg BT 284.23 562.10 Td (date\). ) Tj ET Q q 0 0 0 rg BT 310.06 562.10 Td (Securities ) Tj ET Q q 0 0 0 rg BT 352.84 562.10 Td (transactions ) Tj ET Q q 0 0 0 rg BT 403.95 562.10 Td (outside ) Tj ET Q q 0 0 0 rg BT 436.18 562.10 Td (conventional ) Tj ET Q q 0 0 0 rg BT 491.18 562.10 Td (channels, ) Tj ET Q q 0 0 0 rg BT 532.01 562.10 Td (such ) Tj ET Q q 0 0 0 rg BT 553.69 562.10 Td (as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (private ) Tj ET Q q 0 0 0 rg BT 79.92 550.10 Td (transactions, ) Tj ET Q q 0 0 0 rg BT 132.34 550.10 Td (are ) Tj ET Q q 0 0 0 rg BT 146.70 550.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 183.83 550.10 Td (as ) Tj ET Q q 0 0 0 rg BT 194.31 550.10 Td (of ) Tj ET Q q 0 0 0 rg BT 204.80 550.10 Td (the ) Tj ET Q q 0 0 0 rg BT 219.17 550.10 Td (date ) Tj ET Q q 0 0 0 rg BT 237.98 550.10 Td (the ) Tj ET Q q 0 0 0 rg BT 252.35 550.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 293.39 550.10 Td (obtains ) Tj ET Q q 0 0 0 rg BT 324.44 550.10 Td (the ) Tj ET Q q 0 0 0 rg BT 338.81 550.10 Td (right ) Tj ET Q q 0 0 0 rg BT 359.85 550.10 Td (to ) Tj ET Q q 0 0 0 rg BT 369.78 550.10 Td (demand ) Tj ET Q q 0 0 0 rg BT 403.59 550.10 Td (the ) Tj ET Q q 0 0 0 rg BT 417.96 550.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 457.88 550.10 Td (purchased ) Tj ET Q q 0 0 0 rg BT 500.57 550.10 Td (or ) Tj ET Q q 0 0 0 rg BT 511.06 550.10 Td (to ) Tj ET Q q 0 0 0 rg BT 520.99 550.10 Td (collect ) Tj ET Q q 0 0 0 rg BT 549.80 550.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 88.04 538.10 Td (from ) Tj ET Q q 0 0 0 rg BT 109.98 538.10 Td (a ) Tj ET Q q 0 0 0 rg BT 116.91 538.10 Td (sale ) Tj ET Q q 0 0 0 rg BT 134.96 538.10 Td (and ) Tj ET Q q 0 0 0 rg BT 151.90 538.10 Td (incurs ) Tj ET Q q 0 0 0 rg BT 178.84 538.10 Td (the ) Tj ET Q q 0 0 0 rg BT 193.55 538.10 Td (obligation ) Tj ET Q q 0 0 0 rg BT 236.61 538.10 Td (to ) Tj ET Q q 0 0 0 rg BT 246.88 538.10 Td (pay ) Tj ET Q q 0 0 0 rg BT 263.82 538.10 Td (for ) Tj ET Q q 0 0 0 rg BT 277.98 538.10 Td (the ) Tj ET Q q 0 0 0 rg BT 292.70 538.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 332.96 538.10 Td (purchased ) Tj ET Q q 0 0 0 rg BT 376.00 538.10 Td (or ) Tj ET Q q 0 0 0 rg BT 386.83 538.10 Td (to ) Tj ET Q q 0 0 0 rg BT 397.11 538.10 Td (deliver ) Tj ET Q q 0 0 0 rg BT 427.37 538.10 Td (the ) Tj ET Q q 0 0 0 rg BT 442.09 538.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 482.35 538.10 Td (sold.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 86 512.7669921875 m 202.71875 512.7669921875 l s q 0 0 0 rg BT 86.00 514.10 Td (Concentration ) Tj ET Q q 0 0 0 rg BT 144.62 514.10 Td (of ) Tj ET Q q 0 0 0 rg BT 154.92 514.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 181.88 514.10 Td (Risk.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.72 514.10 Td ( ) Tj ET Q q 0 0 0 rg BT 204.69 514.10 Td ( ) Tj ET Q q 0 0 0 rg BT 206.51 514.10 Td (The ) Tj ET Q q 0 0 0 rg BT 224.03 514.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 264.88 514.10 Td (places ) Tj ET Q q 0 0 0 rg BT 291.83 514.10 Td (its ) Tj ET Q q 0 0 0 rg BT 303.25 514.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 322.99 514.10 Td (and ) Tj ET Q q 0 0 0 rg BT 339.39 514.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 359.13 514.10 Td (equivalents ) Tj ET Q q 0 0 0 rg BT 406.64 514.10 Td (with ) Tj ET Q q 0 0 0 rg BT 426.39 514.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 463.33 514.10 Td (institutions ) Tj ET Q q 0 0 0 rg BT 509.75 514.10 Td (and, ) Tj ET Q q 0 0 0 rg BT 528.66 514.10 Td (at ) Tj ET Q q 0 0 0 rg BT 537.85 514.10 Td (times, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 69.89 502.10 Td (held ) Tj ET Q q 0 0 0 rg BT 89.23 502.10 Td (in ) Tj ET Q q 0 0 0 rg BT 99.14 502.10 Td (depository ) Tj ET Q q 0 0 0 rg BT 143.48 502.10 Td (accounts ) Tj ET Q q 0 0 0 rg BT 180.59 502.10 Td (may ) Tj ET Q q 0 0 0 rg BT 199.93 502.10 Td (exceed ) Tj ET Q q 0 0 0 rg BT 229.80 502.10 Td (the ) Tj ET Q q 0 0 0 rg BT 244.15 502.10 Td (Federal ) Tj ET Q q 0 0 0 rg BT 276.25 502.10 Td (Deposit ) Tj ET Q q 0 0 0 rg BT 309.49 502.10 Td (Insurance ) Tj ET Q q 0 0 0 rg BT 350.48 502.10 Td (Corporation's ) Tj ET Q q 0 0 0 rg BT 406.62 502.10 Td (insured ) Tj ET Q q 0 0 0 rg BT 438.18 502.10 Td (limit ) Tj ET Q q 0 0 0 rg BT 459.20 502.10 Td (and ) Tj ET Q q 0 0 0 rg BT 475.76 502.10 Td (is ) Tj ET Q q 0 0 0 rg BT 484.56 502.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 515.00 502.10 Td (to ) Tj ET Q q 0 0 0 rg BT 524.91 502.10 Td (the ) Tj ET Q q 0 0 0 rg BT 539.25 502.10 Td (credit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 67.50 490.10 Td (of ) Tj ET Q q 0 0 0 rg BT 78.33 490.10 Td (such ) Tj ET Q q 0 0 0 rg BT 99.16 490.10 Td (institutions ) Tj ET Q q 0 0 0 rg BT 146.11 490.10 Td (to ) Tj ET Q q 0 0 0 rg BT 156.39 490.10 Td (the ) Tj ET Q q 0 0 0 rg BT 171.11 490.10 Td (extent ) Tj ET Q q 0 0 0 rg BT 198.04 490.10 Td (it ) Tj ET Q q 0 0 0 rg BT 206.10 490.10 Td (exceeds ) Tj ET Q q 0 0 0 rg BT 240.24 490.10 Td (such ) Tj ET Q q 0 0 0 rg BT 261.07 490.10 Td (limit.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 478.10 Td () Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 86 464.7669921875 m 209.19287109375 464.7669921875 l s q 0 0 0 rg BT 86.00 466.10 Td (Concentration ) Tj ET Q q 0 0 0 rg BT 144.19 466.10 Td (of ) Tj ET Q q 0 0 0 rg BT 154.05 466.10 Td (Investor ) Tj ET Q q 0 0 0 rg BT 188.35 466.10 Td (Risk.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.19 466.10 Td ( ) Tj ET Q q 0 0 0 rg BT 210.73 466.10 Td ( ) Tj ET Q q 0 0 0 rg BT 211.92 466.10 Td (As ) Tj ET Q q 0 0 0 rg BT 224.57 466.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.44 466.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 292.05 466.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.05 466.10 Td (, ) Tj ET Q q 0 0 0 rg BT 316.09 466.10 Td (two ) Tj ET Q q 0 0 0 rg BT 332.62 466.10 Td (investors, ) Tj ET Q q 0 0 0 rg BT 372.43 466.10 Td (Ariel ) Tj ET Q q 0 0 0 rg BT 394.51 466.10 Td (Investments, ) Tj ET Q q 0 0 0 rg BT 446.87 466.10 Td (LLC ) Tj ET Q q 0 0 0 rg BT 467.29 466.10 Td (and ) Tj ET Q q 0 0 0 rg BT 483.26 466.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 522.01 466.10 Td (Consulate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 70.27 454.10 Td (owned ) Tj ET Q q 0 0 0 rg BT 99.43 454.10 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.69 454.10 Td (14.0 ) Tj ET Q q 0 0 0 rg BT 179.69 454.10 Td (percent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.11 454.10 Td ( ) Tj ET Q q 0 0 0 rg BT 211.61 454.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.55 454.10 Td (6.8 ) Tj ET Q q 0 0 0 rg BT 243.55 454.10 Td (percent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.97 454.10 Td (, ) Tj ET Q q 0 0 0 rg BT 277.97 454.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 325.63 454.10 Td (, ) Tj ET Q q 0 0 0 rg BT 330.63 454.10 Td (of ) Tj ET Q q 0 0 0 rg BT 341.46 454.10 Td (our ) Tj ET Q q 0 0 0 rg BT 357.29 454.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 406.46 454.10 Td (shares.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td () Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 86 428.7669921875 m 287.9658203125 428.7669921875 l s q 0 0 0 rg BT 86.00 430.10 Td (Recent ) Tj ET Q q 0 0 0 rg BT 114.81 430.10 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 162.81 430.10 Td (Pronouncements ) Tj ET Q q 0 0 0 rg BT 230.81 430.10 Td (and ) Tj ET Q q 0 0 0 rg BT 246.30 430.10 Td (Adoptions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.97 430.10 Td (. ) Tj ET Q q 0 0 0 rg BT 291.81 430.10 Td ( ) Tj ET Q q 0 0 0 rg BT 293.06 430.10 Td (The ) Tj ET Q q 0 0 0 rg BT 309.95 430.10 Td (SEC ) Tj ET Q q 0 0 0 rg BT 329.63 430.10 Td (adopted ) Tj ET Q q 0 0 0 rg BT 362.63 430.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 396.18 430.10 Td (to ) Tj ET Q q 0 0 0 rg BT 405.31 430.10 Td (Regulation ) Tj ET Q q 0 0 0 rg BT 450.53 430.10 Td (S-X ) Tj ET Q q 0 0 0 rg BT 467.99 430.10 Td (to ) Tj ET Q q 0 0 0 rg BT 477.11 430.10 Td (simplify ) Tj ET Q q 0 0 0 rg BT 511.79 430.10 Td (the ) Tj ET Q q 0 0 0 rg BT 525.35 430.10 Td (reporting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (of ) Tj ET Q q 0 0 0 rg BT 61.60 418.10 Td (information ) Tj ET Q q 0 0 0 rg BT 112.08 418.10 Td (by ) Tj ET Q q 0 0 0 rg BT 125.35 418.10 Td (registered ) Tj ET Q q 0 0 0 rg BT 168.05 418.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 215.20 418.10 Td (companies ) Tj ET Q q 0 0 0 rg BT 261.23 418.10 Td (in ) Tj ET Q q 0 0 0 rg BT 272.28 418.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 310.53 418.10 Td (statements. ) Tj ET Q q 0 0 0 rg BT 358.28 418.10 Td (The ) Tj ET Q q 0 0 0 rg BT 377.10 418.10 Td (amendments ) Tj ET Q q 0 0 0 rg BT 430.91 418.10 Td (require ) Tj ET Q q 0 0 0 rg BT 462.50 418.10 Td (presentation ) Tj ET Q q 0 0 0 rg BT 514.64 418.10 Td (of ) Tj ET Q q 0 0 0 rg BT 526.24 418.10 Td (the ) Tj ET Q q 0 0 0 rg BT 541.73 418.10 Td (total, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (rather ) Tj ET Q q 0 0 0 rg BT 77.77 406.10 Td (than ) Tj ET Q q 0 0 0 rg BT 99.45 406.10 Td (the ) Tj ET Q q 0 0 0 rg BT 116.12 406.10 Td (components ) Tj ET Q q 0 0 0 rg BT 168.90 406.10 Td (of ) Tj ET Q q 0 0 0 rg BT 181.69 406.10 Td (distributable ) Tj ET Q q 0 0 0 rg BT 236.14 406.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 256.16 406.10 Td (on ) Tj ET Q q 0 0 0 rg BT 270.61 406.10 Td (the ) Tj ET Q q 0 0 0 rg BT 287.29 406.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 336.32 406.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 393.55 406.10 Td (Statement ) Tj ET Q q 0 0 0 rg BT 438.00 406.10 Td (of ) Tj ET Q q 0 0 0 rg BT 449.80 406.10 Td (Assets ) Tj ET Q q 0 0 0 rg BT 480.38 406.10 Td (and ) Tj ET Q q 0 0 0 rg BT 499.27 406.10 Td (Liabilities. ) Tj ET Q q 0 0 0 rg BT 546.45 406.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (amendments ) Tj ET Q q 0 0 0 rg BT 104.20 394.10 Td (also ) Tj ET Q q 0 0 0 rg BT 123.97 394.10 Td (removed ) Tj ET Q q 0 0 0 rg BT 162.62 394.10 Td (the ) Tj ET Q q 0 0 0 rg BT 178.50 394.10 Td (requirement ) Tj ET Q q 0 0 0 rg BT 230.47 394.10 Td (for ) Tj ET Q q 0 0 0 rg BT 245.80 394.10 Td (parenthetical ) Tj ET Q q 0 0 0 rg BT 301.09 394.10 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 345.30 394.10 Td (of ) Tj ET Q q 0 0 0 rg BT 357.29 394.10 Td (undistributed ) Tj ET Q q 0 0 0 rg BT 413.73 394.10 Td (net ) Tj ET Q q 0 0 0 rg BT 429.61 394.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 477.15 394.10 Td (income ) Tj ET Q q 0 0 0 rg BT 510.25 394.10 Td (\(loss\) ) Tj ET Q q 0 0 0 rg BT 536.13 394.10 Td (on ) Tj ET Q q 0 0 0 rg BT 549.79 394.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 104.68 382.10 Td (Statement ) Tj ET Q q 0 0 0 rg BT 146.57 382.10 Td (of ) Tj ET Q q 0 0 0 rg BT 156.80 382.10 Td (Changes ) Tj ET Q q 0 0 0 rg BT 193.15 382.10 Td (in ) Tj ET Q q 0 0 0 rg BT 202.83 382.10 Td (Net ) Tj ET Q q 0 0 0 rg BT 218.75 382.10 Td (Assets. ) Tj ET Q q 0 0 0 rg BT 249.13 382.10 Td (The ) Tj ET Q q 0 0 0 rg BT 266.58 382.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 307.37 382.10 Td (reflected ) Tj ET Q q 0 0 0 rg BT 344.24 382.10 Td (these ) Tj ET Q q 0 0 0 rg BT 366.69 382.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 400.80 382.10 Td (in ) Tj ET Q q 0 0 0 rg BT 410.48 382.10 Td (its ) Tj ET Q q 0 0 0 rg BT 421.84 382.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 476.51 382.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 515.63 382.10 Td (Statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 358.10 Td (On ) Tj ET Q q 0 0 0 rg BT 99.87 358.10 Td (August ) Tj ET Q q 0 0 0 rg BT 130.87 358.10 Td (28, ) Tj ET Q q 0 0 0 rg BT 145.48 358.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 170.09 358.10 Td (the ) Tj ET Q q 0 0 0 rg BT 184.42 358.10 Td (F) Tj ET Q q 0 0 0 rg BT 189.24 358.10 Td (ASB ) Tj ET Q q 0 0 0 rg BT 210.81 358.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 237.45 358.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 259.57 358.10 Td (2018-13, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 297.51 358.10 Td ("Disclosur) Tj ET Q q 0 0 0 rg BT 340.23 358.10 Td (e ) Tj ET Q q 0 0 0 rg BT 346.78 358.10 Td (Framework ) Tj ET Q q 0 0 0 rg BT 395.55 358.10 Td (- ) Tj ET Q q 0 0 0 rg BT 401.00 358.10 Td (Changes ) Tj ET Q q 0 0 0 rg BT 438.11 358.10 Td (to ) Tj ET Q q 0 0 0 rg BT 448.00 358.10 Td (the ) Tj ET Q q 0 0 0 rg BT 462.33 358.10 Td (Disclosur) Tj ET Q q 0 0 0 rg BT 500.85 358.10 Td (e ) Tj ET Q q 0 0 0 rg BT 507.40 358.10 Td (Requir) Tj ET Q q 0 0 0 rg BT 534.24 358.10 Td (ements ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (for ) Tj ET Q q 0 0 0 rg BT 64.34 346.10 Td (Fair ) Tj ET Q q 0 0 0 rg BT 84.79 346.10 Td (V) Tj ET Q q 0 0 0 rg BT 89.79 346.10 Td (alue ) Tj ET Q q 0 0 0 rg BT 109.69 346.10 Td (Measur) Tj ET Q q 0 0 0 rg BT 139.87 346.10 Td (ement.") Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 170.44 346.10 Td ( ) Tj ET Q q 0 0 0 rg BT 172.92 346.10 Td (This ) Tj ET Q q 0 0 0 rg BT 192.78 346.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 215.46 346.10 Td (includes ) Tj ET Q q 0 0 0 rg BT 251.46 346.10 Td (new) Tj ET Q q 0 0 0 rg BT 267.47 346.10 Td (, ) Tj ET Q q 0 0 0 rg BT 272.64 346.10 Td (eliminated, ) Tj ET Q q 0 0 0 rg BT 320.02 346.10 Td (and ) Tj ET Q q 0 0 0 rg BT 337.14 346.10 Td (modified ) Tj ET Q q 0 0 0 rg BT 375.91 346.10 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 419.13 346.10 Td (requirements. ) Tj ET Q q 0 0 0 rg BT 476.51 346.10 Td (In ) Tj ET Q q 0 0 0 rg BT 487.51 346.10 Td (addition, ) Tj ET Q q 0 0 0 rg BT 525.46 346.10 Td (this ) Tj ET Q q 0 0 0 rg BT 541.99 346.10 Td (ASU ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (clarifies ) Tj ET Q q 0 0 0 rg BT 85.46 334.10 Td (that ) Tj ET Q q 0 0 0 rg BT 103.70 334.10 Td (materiality ) Tj ET Q q 0 0 0 rg BT 150.27 334.10 Td (is ) Tj ET Q q 0 0 0 rg BT 160.20 334.10 Td (an ) Tj ET Q q 0 0 0 rg BT 172.89 334.10 Td (appropriate ) Tj ET Q q 0 0 0 rg BT 221.67 334.10 Td (consideration ) Tj ET Q q 0 0 0 rg BT 278.80 334.10 Td (for ) Tj ET Q q 0 0 0 rg BT 293.71 334.10 Td (entities ) Tj ET Q q 0 0 0 rg BT 325.85 334.10 Td (when ) Tj ET Q q 0 0 0 rg BT 350.76 334.10 Td (evaluating ) Tj ET Q q 0 0 0 rg BT 395.67 334.10 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 439.47 334.10 Td (requirements. ) Tj ET Q q 0 0 0 rg BT 497.19 334.10 Td (The ) Tj ET Q q 0 0 0 rg BT 515.99 334.10 Td (guidance ) Tj ET Q q 0 0 0 rg BT 555.33 334.10 Td (is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (ef) Tj ET Q q 0 0 0 rg BT 57.59 322.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 86.99 322.10 Td (for ) Tj ET Q q 0 0 0 rg BT 100.84 322.10 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 124.69 322.10 Td (years, ) Tj ET Q q 0 0 0 rg BT 150.49 322.10 Td (and ) Tj ET Q q 0 0 0 rg BT 167.12 322.10 Td (interim ) Tj ET Q q 0 0 0 rg BT 198.20 322.10 Td (periods ) Tj ET Q q 0 0 0 rg BT 229.84 322.10 Td (within ) Tj ET Q q 0 0 0 rg BT 257.59 322.10 Td (those ) Tj ET Q q 0 0 0 rg BT 280.89 322.10 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 304.75 322.10 Td (years, ) Tj ET Q q 0 0 0 rg BT 330.54 322.10 Td (beginning ) Tj ET Q q 0 0 0 rg BT 372.73 322.10 Td (after ) Tj ET Q q 0 0 0 rg BT 393.24 322.10 Td (December ) Tj ET Q q 0 0 0 rg BT 436.52 322.10 Td (15, ) Tj ET Q q 0 0 0 rg BT 451.22 322.10 Td (2019. ) Tj ET Q q 0 0 0 rg BT 475.43 322.10 Td (An ) Tj ET Q q 0 0 0 rg BT 489.85 322.10 Td (entity ) Tj ET Q q 0 0 0 rg BT 514.82 322.10 Td (is ) Tj ET Q q 0 0 0 rg BT 523.69 322.10 Td (permitted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (to ) Tj ET Q q 0 0 0 rg BT 60.24 310.10 Td (early ) Tj ET Q q 0 0 0 rg BT 82.70 310.10 Td (adopt ) Tj ET Q q 0 0 0 rg BT 107.38 310.10 Td (any ) Tj ET Q q 0 0 0 rg BT 124.28 310.10 Td (eliminated ) Tj ET Q q 0 0 0 rg BT 168.96 310.10 Td (or ) Tj ET Q q 0 0 0 rg BT 179.75 310.10 Td (modified ) Tj ET Q q 0 0 0 rg BT 218.32 310.10 Td (disclosures ) Tj ET Q q 0 0 0 rg BT 265.22 310.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 287.69 310.10 Td (issuance ) Tj ET Q q 0 0 0 rg BT 324.03 310.10 Td (of ) Tj ET Q q 0 0 0 rg BT 334.83 310.10 Td (this ) Tj ET Q q 0 0 0 rg BT 351.20 310.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 373.67 310.10 Td (and ) Tj ET Q q 0 0 0 rg BT 390.57 310.10 Td (delay ) Tj ET Q q 0 0 0 rg BT 414.69 310.10 Td (adoption ) Tj ET Q q 0 0 0 rg BT 452.16 310.10 Td (of ) Tj ET Q q 0 0 0 rg BT 462.95 310.10 Td (the ) Tj ET Q q 0 0 0 rg BT 477.63 310.10 Td (new ) Tj ET Q q 0 0 0 rg BT 496.76 310.10 Td (disclosures ) Tj ET Q q 0 0 0 rg BT 543.66 310.10 Td (until ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (their ) Tj ET Q q 0 0 0 rg BT 71.11 298.10 Td (ef) Tj ET Q q 0 0 0 rg BT 78.70 298.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 108.68 298.10 Td (date. ) Tj ET Q q 0 0 0 rg BT 130.62 298.10 Td ( ) Tj ET Q q 0 0 0 rg BT 133.20 298.10 Td (The ) Tj ET Q q 0 0 0 rg BT 151.53 298.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 193.20 298.10 Td (has ) Tj ET Q q 0 0 0 rg BT 209.31 298.10 Td (early ) Tj ET Q q 0 0 0 rg BT 232.08 298.10 Td (adopted ) Tj ET Q q 0 0 0 rg BT 266.51 298.10 Td (the ) Tj ET Q q 0 0 0 rg BT 281.51 298.10 Td (eliminated ) Tj ET Q q 0 0 0 rg BT 326.50 298.10 Td (and ) Tj ET Q q 0 0 0 rg BT 343.72 298.10 Td (modified ) Tj ET Q q 0 0 0 rg BT 382.61 298.10 Td (disclosures, ) Tj ET Q q 0 0 0 rg BT 432.33 298.10 Td (as ) Tj ET Q q 0 0 0 rg BT 443.44 298.10 Td (permitted ) Tj ET Q q 0 0 0 rg BT 484.54 298.10 Td (by ) Tj ET Q q 0 0 0 rg BT 497.33 298.10 Td (this ) Tj ET Q q 0 0 0 rg BT 513.94 298.10 Td (ASU, ) Tj ET Q q 0 0 0 rg BT 539.23 298.10 Td (and ) Tj ET Q q 0 0 0 rg BT 556.45 298.10 Td (it ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (did ) Tj ET Q q 0 0 0 rg BT 65.28 286.10 Td (not ) Tj ET Q q 0 0 0 rg BT 80.56 286.10 Td (have ) Tj ET Q q 0 0 0 rg BT 101.93 286.10 Td (a ) Tj ET Q q 0 0 0 rg BT 108.87 286.10 Td (material ) Tj ET Q q 0 0 0 rg BT 144.13 286.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 173.84 286.10 Td (in ) Tj ET Q q 0 0 0 rg BT 184.12 286.10 Td (its ) Tj ET Q q 0 0 0 rg BT 196.07 286.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 251.34 286.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 291.05 286.10 Td (Statements ) Tj ET Q q 0 0 0 rg BT 337.44 286.10 Td (as ) Tj ET Q q 0 0 0 rg BT 348.27 286.10 Td (the ) Tj ET Q q 0 0 0 rg BT 362.98 286.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 397.69 286.10 Td (are ) Tj ET Q q 0 0 0 rg BT 412.40 286.10 Td (solely ) Tj ET Q q 0 0 0 rg BT 438.78 286.10 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 481.83 286.10 Td (related. ) Tj ET Q q 0 0 0 rg BT 514.03 286.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 262.10 Td (On ) Tj ET Q q 0 0 0 rg BT 101.33 262.10 Td (March ) Tj ET Q q 0 0 0 rg BT 130.53 262.10 Td (10, ) Tj ET Q q 0 0 0 rg BT 146.13 262.10 Td (2017, ) Tj ET Q q 0 0 0 rg BT 171.74 262.10 Td (the ) Tj ET Q q 0 0 0 rg BT 187.06 262.10 Td (F) Tj ET Q q 0 0 0 rg BT 191.88 262.10 Td (ASB ) Tj ET Q q 0 0 0 rg BT 214.44 262.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 241.86 262.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 264.96 262.10 Td (2017-7, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 298.90 262.10 Td ("Compensation ) Tj ET Q q 0 0 0 rg BT 363.98 262.10 Td (- ) Tj ET Q q 0 0 0 rg BT 370.42 262.10 Td (Retir) Tj ET Q q 0 0 0 rg BT 390.04 262.10 Td (ement ) Tj ET Q q 0 0 0 rg BT 417.02 262.10 Td (Benefits ) Tj ET Q q 0 0 0 rg BT 452.34 262.10 Td (\(T) Tj ET Q q 0 0 0 rg BT 460.31 262.10 Td (opic ) Tj ET Q q 0 0 0 rg BT 480.63 262.10 Td (715\): ) Tj ET Q q 0 0 0 rg BT 505.40 262.10 Td (Impr) Tj ET Q q 0 0 0 rg BT 524.47 262.10 Td (oving ) Tj ET Q q 0 0 0 rg BT 549.79 262.10 Td (the ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (Pr) Tj ET Q q 0 0 0 rg BT 59.63 250.10 Td (esentation ) Tj ET Q q 0 0 0 rg BT 102.20 250.10 Td (of ) Tj ET Q q 0 0 0 rg BT 111.45 250.10 Td (Net ) Tj ET Q q 0 0 0 rg BT 126.80 250.10 Td (Periodic ) Tj ET Q q 0 0 0 rg BT 162.71 250.10 Td (Pension ) Tj ET Q q 0 0 0 rg BT 196.39 250.10 Td (Cost ) Tj ET Q q 0 0 0 rg BT 216.20 250.10 Td (and ) Tj ET Q q 0 0 0 rg BT 232.67 250.10 Td (Net ) Tj ET Q q 0 0 0 rg BT 248.02 250.10 Td (Periodic ) Tj ET Q q 0 0 0 rg BT 283.93 250.10 Td (Post-r) Tj ET Q q 0 0 0 rg BT 308.56 250.10 Td (etir) Tj ET Q q 0 0 0 rg BT 322.07 250.10 Td (ement ) Tj ET Q q 0 0 0 rg BT 347.42 250.10 Td (Benefit ) Tj ET Q q 0 0 0 rg BT 377.21 250.10 Td (Cost." ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.71 250.10 Td (This ) Tj ET Q q 0 0 0 rg BT 422.64 250.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 444.11 250.10 Td (covers ) Tj ET Q q 0 0 0 rg BT 471.68 250.10 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 513.69 250.10 Td (requirement ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (for ) Tj ET Q q 0 0 0 rg BT 64.52 238.10 Td (service ) Tj ET Q q 0 0 0 rg BT 95.69 238.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 114.66 238.10 Td (components ) Tj ET Q q 0 0 0 rg BT 165.84 238.10 Td (related ) Tj ET Q q 0 0 0 rg BT 195.91 238.10 Td (to ) Tj ET Q q 0 0 0 rg BT 206.54 238.10 Td (pension ) Tj ET Q q 0 0 0 rg BT 240.51 238.10 Td (and ) Tj ET Q q 0 0 0 rg BT 257.81 238.10 Td (post-retirement ) Tj ET Q q 0 0 0 rg BT 321.76 238.10 Td (benefit ) Tj ET Q q 0 0 0 rg BT 352.38 238.10 Td (costs. ) Tj ET Q q 0 0 0 rg BT 377.53 238.10 Td (The ) Tj ET Q q 0 0 0 rg BT 395.94 238.10 Td (guidance ) Tj ET Q q 0 0 0 rg BT 434.89 238.10 Td (is ) Tj ET Q q 0 0 0 rg BT 444.42 238.10 Td (ef) Tj ET Q q 0 0 0 rg BT 452.01 238.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 482.07 238.10 Td (for ) Tj ET Q q 0 0 0 rg BT 496.59 238.10 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 521.10 238.10 Td (years, ) Tj ET Q q 0 0 0 rg BT 547.56 238.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (interim ) Tj ET Q q 0 0 0 rg BT 80.43 226.10 Td (periods ) Tj ET Q q 0 0 0 rg BT 111.41 226.10 Td (within ) Tj ET Q q 0 0 0 rg BT 138.51 226.10 Td (those ) Tj ET Q q 0 0 0 rg BT 161.17 226.10 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 184.37 226.10 Td (years, ) Tj ET Q q 0 0 0 rg BT 209.51 226.10 Td (beginning ) Tj ET Q q 0 0 0 rg BT 251.05 226.10 Td (after ) Tj ET Q q 0 0 0 rg BT 270.91 226.10 Td (December ) Tj ET Q q 0 0 0 rg BT 313.54 226.10 Td (15, ) Tj ET Q q 0 0 0 rg BT 327.59 226.10 Td (2017, ) Tj ET Q q 0 0 0 rg BT 351.63 226.10 Td (with ) Tj ET Q q 0 0 0 rg BT 370.96 226.10 Td (early ) Tj ET Q q 0 0 0 rg BT 392.49 226.10 Td (adoption ) Tj ET Q q 0 0 0 rg BT 429.03 226.10 Td (permitted. ) Tj ET Q q 0 0 0 rg BT 471.39 226.10 Td ( ) Tj ET Q q 0 0 0 rg BT 472.83 226.10 Td (The ) Tj ET Q q 0 0 0 rg BT 489.92 226.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 530.35 226.10 Td (adopted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (this ) Tj ET Q q 0 0 0 rg BT 66.40 214.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 88.90 214.10 Td (in ) Tj ET Q q 0 0 0 rg BT 99.18 214.10 Td (its ) Tj ET Q q 0 0 0 rg BT 111.13 214.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 166.40 214.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 206.11 214.10 Td (Statements, ) Tj ET Q q 0 0 0 rg BT 255.00 214.10 Td (and ) Tj ET Q q 0 0 0 rg BT 271.93 214.10 Td (it ) Tj ET Q q 0 0 0 rg BT 279.99 214.10 Td (did ) Tj ET Q q 0 0 0 rg BT 295.27 214.10 Td (not ) Tj ET Q q 0 0 0 rg BT 310.55 214.10 Td (have ) Tj ET Q q 0 0 0 rg BT 331.92 214.10 Td (a ) Tj ET Q q 0 0 0 rg BT 338.86 214.10 Td (material ) Tj ET Q q 0 0 0 rg BT 374.12 214.10 Td (impact.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 190.10 Td (On ) Tj ET Q q 0 0 0 rg BT 100.45 190.10 Td (August ) Tj ET Q q 0 0 0 rg BT 132.20 190.10 Td (26, ) Tj ET Q q 0 0 0 rg BT 147.55 190.10 Td (2016 ) Tj ET Q q 0 0 0 rg BT 170.41 190.10 Td (and ) Tj ET Q q 0 0 0 rg BT 187.70 190.10 Td (November ) Tj ET Q q 0 0 0 rg BT 232.77 190.10 Td (17, ) Tj ET Q q 0 0 0 rg BT 248.12 190.10 Td (2016, ) Tj ET Q q 0 0 0 rg BT 273.48 190.10 Td (the ) Tj ET Q q 0 0 0 rg BT 288.55 190.10 Td (F) Tj ET Q q 0 0 0 rg BT 293.37 190.10 Td (ASB ) Tj ET Q q 0 0 0 rg BT 315.68 190.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 342.91 190.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 365.77 190.10 Td (2016-15, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 404.46 190.10 Td ("Statement ) Tj ET Q q 0 0 0 rg BT 450.95 190.10 Td (of ) Tj ET Q q 0 0 0 rg BT 461.58 190.10 Td (Cash ) Tj ET Q q 0 0 0 rg BT 485.00 190.10 Td (Flows ) Tj ET Q q 0 0 0 rg BT 512.30 190.10 Td (\(T) Tj ET Q q 0 0 0 rg BT 520.28 190.10 Td (opic ) Tj ET Q q 0 0 0 rg BT 540.35 190.10 Td (230\): ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (Classification ) Tj ET Q q 0 0 0 rg BT 107.41 178.10 Td (of ) Tj ET Q q 0 0 0 rg BT 117.03 178.10 Td (Certain ) Tj ET Q q 0 0 0 rg BT 149.43 178.10 Td (Cash ) Tj ET Q q 0 0 0 rg BT 171.84 178.10 Td (Receipts ) Tj ET Q q 0 0 0 rg BT 207.55 178.10 Td (and ) Tj ET Q q 0 0 0 rg BT 224.40 178.10 Td (Cash ) Tj ET Q q 0 0 0 rg BT 246.80 178.10 Td (Payments" ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.73 178.10 Td (and ) Tj ET Q q 0 0 0 rg BT 307.60 178.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 329.45 178.10 Td (2016-18, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 367.13 178.10 Td ("Statement ) Tj ET Q q 0 0 0 rg BT 412.60 178.10 Td (of ) Tj ET Q q 0 0 0 rg BT 422.23 178.10 Td (Cash ) Tj ET Q q 0 0 0 rg BT 444.63 178.10 Td (Flows ) Tj ET Q q 0 0 0 rg BT 470.93 178.10 Td (\(T) Tj ET Q q 0 0 0 rg BT 478.90 178.10 Td (opic ) Tj ET Q q 0 0 0 rg BT 497.96 178.10 Td (230\): ) Tj ET Q q 0 0 0 rg BT 521.47 178.10 Td (Restricted ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 166.10 Td (Cash") Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.76 166.10 Td (, ) Tj ET Q q 0 0 0 rg BT 80.07 166.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 127.73 166.10 Td (. ) Tj ET Q q 0 0 0 rg BT 132.84 166.10 Td (These ) Tj ET Q q 0 0 0 rg BT 158.91 166.10 Td (ASUs ) Tj ET Q q 0 0 0 rg BT 185.61 166.10 Td (are ) Tj ET Q q 0 0 0 rg BT 200.63 166.10 Td (intended ) Tj ET Q q 0 0 0 rg BT 237.87 166.10 Td (to ) Tj ET Q q 0 0 0 rg BT 248.46 166.10 Td (reduce ) Tj ET Q q 0 0 0 rg BT 277.92 166.10 Td (diversity ) Tj ET Q q 0 0 0 rg BT 315.72 166.10 Td (in ) Tj ET Q q 0 0 0 rg BT 326.31 166.10 Td (practice ) Tj ET Q q 0 0 0 rg BT 360.76 166.10 Td (in ) Tj ET Q q 0 0 0 rg BT 371.35 166.10 Td (how ) Tj ET Q q 0 0 0 rg BT 391.38 166.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 421.39 166.10 Td (transactions ) Tj ET Q q 0 0 0 rg BT 471.97 166.10 Td (and ) Tj ET Q q 0 0 0 rg BT 489.22 166.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 529.23 166.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 549.81 166.10 Td (are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.10 Td (classified ) Tj ET Q q 0 0 0 rg BT 90.97 154.10 Td (and ) Tj ET Q q 0 0 0 rg BT 108.62 154.10 Td (presented ) Tj ET Q q 0 0 0 rg BT 150.14 154.10 Td (in ) Tj ET Q q 0 0 0 rg BT 161.13 154.10 Td (the ) Tj ET Q q 0 0 0 rg BT 176.55 154.10 Td (statement ) Tj ET Q q 0 0 0 rg BT 218.08 154.10 Td (of ) Tj ET Q q 0 0 0 rg BT 229.62 154.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 250.60 154.10 Td (flows. ) Tj ET Q q 0 0 0 rg BT 278.53 154.10 Td ( ) Tj ET Q q 0 0 0 rg BT 281.03 154.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 304.24 154.10 Td (2016-15 ) Tj ET Q q 0 0 0 rg BT 340.78 154.10 Td (af) Tj ET Q q 0 0 0 rg BT 348.36 154.10 Td (fects ) Tj ET Q q 0 0 0 rg BT 370.45 154.10 Td (how ) Tj ET Q q 0 0 0 rg BT 390.88 154.10 Td (distributions ) Tj ET Q q 0 0 0 rg BT 444.09 154.10 Td (received ) Tj ET Q q 0 0 0 rg BT 481.16 154.10 Td (from ) Tj ET Q q 0 0 0 rg BT 503.81 154.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 532.01 154.10 Td (method ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (investees ) Tj ET Q q 0 0 0 rg BT 88.79 142.10 Td (and ) Tj ET Q q 0 0 0 rg BT 104.88 142.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 127.02 142.10 Td (2016-18 ) Tj ET Q q 0 0 0 rg BT 162.48 142.10 Td (af) Tj ET Q q 0 0 0 rg BT 170.07 142.10 Td (fects ) Tj ET Q q 0 0 0 rg BT 191.08 142.10 Td (the ) Tj ET Q q 0 0 0 rg BT 205.42 142.10 Td (presentation ) Tj ET Q q 0 0 0 rg BT 256.42 142.10 Td (of ) Tj ET Q q 0 0 0 rg BT 266.89 142.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 306.22 142.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 326.12 142.10 Td (in ) Tj ET Q q 0 0 0 rg BT 336.03 142.10 Td (the ) Tj ET Q q 0 0 0 rg BT 350.37 142.10 Td (statement ) Tj ET Q q 0 0 0 rg BT 390.82 142.10 Td (of ) Tj ET Q q 0 0 0 rg BT 401.28 142.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 421.18 142.10 Td (flows ) Tj ET Q q 0 0 0 rg BT 445.53 142.10 Td (will ) Tj ET Q q 0 0 0 rg BT 463.22 142.10 Td (be ) Tj ET Q q 0 0 0 rg BT 474.79 142.10 Td (reported. ) Tj ET Q q 0 0 0 rg BT 512.58 142.10 Td (These ) Tj ET Q q 0 0 0 rg BT 538.12 142.10 Td (ASUs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.10 Td (will ) Tj ET Q q 0 0 0 rg BT 68.63 130.10 Td (be ) Tj ET Q q 0 0 0 rg BT 81.15 130.10 Td (ef) Tj ET Q q 0 0 0 rg BT 88.74 130.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 119.02 130.10 Td (for ) Tj ET Q q 0 0 0 rg BT 133.76 130.10 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 158.49 130.10 Td (years, ) Tj ET Q q 0 0 0 rg BT 185.17 130.10 Td (and ) Tj ET Q q 0 0 0 rg BT 202.68 130.10 Td (interim ) Tj ET Q q 0 0 0 rg BT 234.64 130.10 Td (periods ) Tj ET Q q 0 0 0 rg BT 267.16 130.10 Td (within ) Tj ET Q q 0 0 0 rg BT 295.79 130.10 Td (those ) Tj ET Q q 0 0 0 rg BT 319.98 130.10 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 344.71 130.10 Td (years, ) Tj ET Q q 0 0 0 rg BT 371.39 130.10 Td (beginning ) Tj ET Q q 0 0 0 rg BT 414.46 130.10 Td (after ) Tj ET Q q 0 0 0 rg BT 435.85 130.10 Td (December ) Tj ET Q q 0 0 0 rg BT 480.01 130.10 Td (15, ) Tj ET Q q 0 0 0 rg BT 495.59 130.10 Td (2017, ) Tj ET Q q 0 0 0 rg BT 521.17 130.10 Td (with ) Tj ET Q q 0 0 0 rg BT 542.02 130.10 Td (early ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.10 Td (adoption ) Tj ET Q q 0 0 0 rg BT 88.23 118.10 Td (permitted. ) Tj ET Q q 0 0 0 rg BT 132.28 118.10 Td ( ) Tj ET Q q 0 0 0 rg BT 135.27 118.10 Td (The ) Tj ET Q q 0 0 0 rg BT 154.05 118.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 196.17 118.10 Td (adopted ) Tj ET Q q 0 0 0 rg BT 231.05 118.10 Td (this ) Tj ET Q q 0 0 0 rg BT 248.02 118.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 271.25 118.10 Td (in ) Tj ET Q q 0 0 0 rg BT 282.26 118.10 Td (its ) Tj ET Q q 0 0 0 rg BT 294.94 118.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 350.94 118.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 391.38 118.10 Td (Statements, ) Tj ET Q q 0 0 0 rg BT 440.99 118.10 Td (and ) Tj ET Q q 0 0 0 rg BT 458.66 118.10 Td (it ) Tj ET Q q 0 0 0 rg BT 467.45 118.10 Td (did ) Tj ET Q q 0 0 0 rg BT 483.46 118.10 Td (not ) Tj ET Q q 0 0 0 rg BT 499.47 118.10 Td (have ) Tj ET Q q 0 0 0 rg BT 521.57 118.10 Td (a ) Tj ET Q q 0 0 0 rg BT 529.24 118.10 Td (material ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.10 Td (impact.) Tj ET Q endstream endobj 57 0 obj <> endobj 58 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (28) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 742.10 Td (On ) Tj ET Q q 0 0 0 rg BT 100.54 742.10 Td (June ) Tj ET Q q 0 0 0 rg BT 121.20 742.10 Td (16, ) Tj ET Q q 0 0 0 rg BT 136.02 742.10 Td (2016, ) Tj ET Q q 0 0 0 rg BT 160.84 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 175.38 742.10 Td (F) Tj ET Q q 0 0 0 rg BT 180.20 742.10 Td (ASB ) Tj ET Q q 0 0 0 rg BT 201.97 742.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 228.78 742.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 251.11 742.10 Td (2016-13, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 289.26 742.10 Td ("Financial ) Tj ET Q q 0 0 0 rg BT 334.66 742.10 Td (Instruments ) Tj ET Q q 0 0 0 rg BT 384.21 742.10 Td (- ) Tj ET Q q 0 0 0 rg BT 389.86 742.10 Td (Cr) Tj ET Q q 0 0 0 rg BT 400.05 742.10 Td (edit ) Tj ET Q q 0 0 0 rg BT 417.37 742.10 Td (Losses ) Tj ET Q q 0 0 0 rg BT 446.36 742.10 Td (\(T) Tj ET Q q 0 0 0 rg BT 454.34 742.10 Td (opic ) Tj ET Q q 0 0 0 rg BT 473.87 742.10 Td (326\): ) Tj ET Q q 0 0 0 rg BT 497.86 742.10 Td (Measur) Tj ET Q q 0 0 0 rg BT 528.04 742.10 Td (ement ) Tj ET Q q 0 0 0 rg BT 554.24 742.10 Td (of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (Cr) Tj ET Q q 0 0 0 rg BT 60.19 730.10 Td (edit ) Tj ET Q q 0 0 0 rg BT 77.42 730.10 Td (Losses ) Tj ET Q q 0 0 0 rg BT 106.34 730.10 Td (on ) Tj ET Q q 0 0 0 rg BT 118.57 730.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 159.69 730.10 Td (Instruments.") Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 213.61 730.10 Td ( ) Tj ET Q q 0 0 0 rg BT 215.85 730.10 Td ( ) Tj ET Q q 0 0 0 rg BT 217.93 730.10 Td (This ) Tj ET Q q 0 0 0 rg BT 237.45 730.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 259.69 730.10 Td (is ) Tj ET Q q 0 0 0 rg BT 268.60 730.10 Td (intended ) Tj ET Q q 0 0 0 rg BT 305.27 730.10 Td (to ) Tj ET Q q 0 0 0 rg BT 315.29 730.10 Td (introduce ) Tj ET Q q 0 0 0 rg BT 355.29 730.10 Td (new ) Tj ET Q q 0 0 0 rg BT 374.19 730.10 Td (guidance ) Tj ET Q q 0 0 0 rg BT 412.52 730.10 Td (for ) Tj ET Q q 0 0 0 rg BT 426.42 730.10 Td (the ) Tj ET Q q 0 0 0 rg BT 440.87 730.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 486.98 730.10 Td (for ) Tj ET Q q 0 0 0 rg BT 500.88 730.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 525.88 730.10 Td (losses ) Tj ET Q q 0 0 0 rg BT 552.01 730.10 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (instruments ) Tj ET Q q 0 0 0 rg BT 99.27 718.10 Td (within ) Tj ET Q q 0 0 0 rg BT 127.42 718.10 Td (scope ) Tj ET Q q 0 0 0 rg BT 152.79 718.10 Td (based ) Tj ET Q q 0 0 0 rg BT 178.16 718.10 Td (on ) Tj ET Q q 0 0 0 rg BT 190.76 718.10 Td (an ) Tj ET Q q 0 0 0 rg BT 202.80 718.10 Td (estimate ) Tj ET Q q 0 0 0 rg BT 238.72 718.10 Td (of ) Tj ET Q q 0 0 0 rg BT 249.65 718.10 Td (current ) Tj ET Q q 0 0 0 rg BT 280.56 718.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 318.70 718.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 344.06 718.10 Td (losses. ) Tj ET Q q 0 0 0 rg BT 373.05 718.10 Td ( ) Tj ET Q q 0 0 0 rg BT 375.46 718.10 Td (The ) Tj ET Q q 0 0 0 rg BT 393.61 718.10 Td (guidance ) Tj ET Q q 0 0 0 rg BT 432.30 718.10 Td (will ) Tj ET Q q 0 0 0 rg BT 450.46 718.10 Td (be ) Tj ET Q q 0 0 0 rg BT 462.50 718.10 Td (ef) Tj ET Q q 0 0 0 rg BT 470.09 718.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 499.89 718.10 Td (for ) Tj ET Q q 0 0 0 rg BT 514.15 718.10 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 538.41 718.10 Td (years, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.94 706.10 Td (interim ) Tj ET Q q 0 0 0 rg BT 98.33 706.10 Td (periods ) Tj ET Q q 0 0 0 rg BT 130.28 706.10 Td (within ) Tj ET Q q 0 0 0 rg BT 158.34 706.10 Td (those ) Tj ET Q q 0 0 0 rg BT 181.96 706.10 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 206.12 706.10 Td (years, ) Tj ET Q q 0 0 0 rg BT 232.22 706.10 Td (beginning ) Tj ET Q q 0 0 0 rg BT 274.72 706.10 Td (after ) Tj ET Q q 0 0 0 rg BT 295.55 706.10 Td (December ) Tj ET Q q 0 0 0 rg BT 339.14 706.10 Td (15, ) Tj ET Q q 0 0 0 rg BT 354.14 706.10 Td (2019, ) Tj ET Q q 0 0 0 rg BT 379.15 706.10 Td (with ) Tj ET Q q 0 0 0 rg BT 399.43 706.10 Td (early ) Tj ET Q q 0 0 0 rg BT 421.92 706.10 Td (adoption ) Tj ET Q q 0 0 0 rg BT 459.43 706.10 Td (permitted. ) Tj ET Q q 0 0 0 rg BT 502.75 706.10 Td ( ) Tj ET Q q 0 0 0 rg BT 505.08 706.10 Td (The ) Tj ET Q q 0 0 0 rg BT 523.13 706.10 Td (Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (currently ) Tj ET Q q 0 0 0 rg BT 89.03 694.10 Td (assesses ) Tj ET Q q 0 0 0 rg BT 124.74 694.10 Td (the ) Tj ET Q q 0 0 0 rg BT 139.90 694.10 Td (collectibility ) Tj ET Q q 0 0 0 rg BT 193.37 694.10 Td (of ) Tj ET Q q 0 0 0 rg BT 204.64 694.10 Td (any ) Tj ET Q q 0 0 0 rg BT 222.02 694.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 254.39 694.10 Td (receivables ) Tj ET Q q 0 0 0 rg BT 302.29 694.10 Td (and ) Tj ET Q q 0 0 0 rg BT 319.67 694.10 Td (includes ) Tj ET Q q 0 0 0 rg BT 355.93 694.10 Td (such ) Tj ET Q q 0 0 0 rg BT 377.20 694.10 Td (determinations ) Tj ET Q q 0 0 0 rg BT 439.57 694.10 Td (in ) Tj ET Q q 0 0 0 rg BT 450.28 694.10 Td (the ) Tj ET Q q 0 0 0 rg BT 465.43 694.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 502.26 694.10 Td (included ) Tj ET Q q 0 0 0 rg BT 539.63 694.10 Td (on ) Tj ET Q q 0 0 0 rg BT 552.57 694.10 Td (its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (balance ) Tj ET Q q 0 0 0 rg BT 82.98 682.10 Td (sheet. ) Tj ET Q q 0 0 0 rg BT 108.46 682.10 Td ( ) Tj ET Q q 0 0 0 rg BT 110.37 682.10 Td (All ) Tj ET Q q 0 0 0 rg BT 125.59 682.10 Td (other ) Tj ET Q q 0 0 0 rg BT 148.58 682.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 186.00 682.10 Td (instruments ) Tj ET Q q 0 0 0 rg BT 235.11 682.10 Td (owned ) Tj ET Q q 0 0 0 rg BT 264.21 682.10 Td (by ) Tj ET Q q 0 0 0 rg BT 276.66 682.10 Td (the ) Tj ET Q q 0 0 0 rg BT 291.32 682.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 332.65 682.10 Td (are ) Tj ET Q q 0 0 0 rg BT 347.30 682.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 363.62 682.10 Td (valued. ) Tj ET Q q 0 0 0 rg BT 395.21 682.10 Td ( ) Tj ET Q q 0 0 0 rg BT 397.12 682.10 Td (As ) Tj ET Q q 0 0 0 rg BT 410.67 682.10 Td (such, ) Tj ET Q q 0 0 0 rg BT 433.95 682.10 Td (the ) Tj ET Q q 0 0 0 rg BT 448.61 682.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 489.94 682.10 Td (does ) Tj ET Q q 0 0 0 rg BT 510.71 682.10 Td (not ) Tj ET Q q 0 0 0 rg BT 525.93 682.10 Td (currently ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (anticipate ) Tj ET Q q 0 0 0 rg BT 91.37 670.10 Td (that ) Tj ET Q q 0 0 0 rg BT 108.86 670.10 Td (adoption ) Tj ET Q q 0 0 0 rg BT 146.36 670.10 Td (of ) Tj ET Q q 0 0 0 rg BT 157.19 670.10 Td (this ) Tj ET Q q 0 0 0 rg BT 173.58 670.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 196.09 670.10 Td (will ) Tj ET Q q 0 0 0 rg BT 214.15 670.10 Td (have ) Tj ET Q q 0 0 0 rg BT 235.52 670.10 Td (a ) Tj ET Q q 0 0 0 rg BT 242.46 670.10 Td (material ) Tj ET Q q 0 0 0 rg BT 277.72 670.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 307.43 670.10 Td (on ) Tj ET Q q 0 0 0 rg BT 319.93 670.10 Td (its ) Tj ET Q q 0 0 0 rg BT 331.88 670.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 369.36 670.10 Td (statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 646.10 Td (On ) Tj ET Q q 0 0 0 rg BT 100.09 646.10 Td (February ) Tj ET Q q 0 0 0 rg BT 138.05 646.10 Td (25, ) Tj ET Q q 0 0 0 rg BT 152.42 646.10 Td (2016, ) Tj ET Q q 0 0 0 rg BT 176.79 646.10 Td (the ) Tj ET Q q 0 0 0 rg BT 190.87 646.10 Td (F) Tj ET Q q 0 0 0 rg BT 195.69 646.10 Td (ASB ) Tj ET Q q 0 0 0 rg BT 217.01 646.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 243.46 646.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 265.34 646.10 Td (2016-02, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 303.03 646.10 Td ("Leases") Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 646.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 340.52 646.10 Td (\(T) Tj ET Q q 0 0 0 rg BT 348.49 646.10 Td (opic ) Tj ET Q q 0 0 0 rg BT 367.58 646.10 Td (842\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.91 646.10 Td (. ) Tj ET Q q 0 0 0 rg BT 390.27 646.10 Td ( ) Tj ET Q q 0 0 0 rg BT 392.00 646.10 Td (This ) Tj ET Q q 0 0 0 rg BT 411.24 646.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 433.11 646.10 Td (supersedes ) Tj ET Q q 0 0 0 rg BT 478.30 646.10 Td (the ) Tj ET Q q 0 0 0 rg BT 492.38 646.10 Td (existing ) Tj ET Q q 0 0 0 rg BT 525.91 646.10 Td (guidance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (for ) Tj ET Q q 0 0 0 rg BT 64.30 634.10 Td (the ) Tj ET Q q 0 0 0 rg BT 79.16 634.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 125.67 634.10 Td (for ) Tj ET Q q 0 0 0 rg BT 139.97 634.10 Td (leases. ) Tj ET Q q 0 0 0 rg BT 168.98 634.10 Td (Under ) Tj ET Q q 0 0 0 rg BT 196.61 634.10 Td (the ) Tj ET Q q 0 0 0 rg BT 211.47 634.10 Td (new ) Tj ET Q q 0 0 0 rg BT 230.77 634.10 Td (guidance, ) Tj ET Q q 0 0 0 rg BT 272.00 634.10 Td (lessees ) Tj ET Q q 0 0 0 rg BT 302.41 634.10 Td (are ) Tj ET Q q 0 0 0 rg BT 317.25 634.10 Td (required ) Tj ET Q q 0 0 0 rg BT 353.21 634.10 Td (to ) Tj ET Q q 0 0 0 rg BT 363.63 634.10 Td (recognize ) Tj ET Q q 0 0 0 rg BT 405.13 634.10 Td (a ) Tj ET Q q 0 0 0 rg BT 412.20 634.10 Td (right-of-use ) Tj ET Q q 0 0 0 rg BT 462.05 634.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 484.13 634.10 Td (and ) Tj ET Q q 0 0 0 rg BT 501.21 634.10 Td (a ) Tj ET Q q 0 0 0 rg BT 508.28 634.10 Td (lease ) Tj ET Q q 0 0 0 rg BT 530.91 634.10 Td (liability ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (for ) Tj ET Q q 0 0 0 rg BT 64.06 622.10 Td (all ) Tj ET Q q 0 0 0 rg BT 76.46 622.10 Td (leases. ) Tj ET Q q 0 0 0 rg BT 105.25 622.10 Td ( ) Tj ET Q q 0 0 0 rg BT 107.48 622.10 Td (The ) Tj ET Q q 0 0 0 rg BT 125.43 622.10 Td (new ) Tj ET Q q 0 0 0 rg BT 144.49 622.10 Td (guidance ) Tj ET Q q 0 0 0 rg BT 182.99 622.10 Td (will ) Tj ET Q q 0 0 0 rg BT 200.95 622.10 Td (continue ) Tj ET Q q 0 0 0 rg BT 237.79 622.10 Td (to ) Tj ET Q q 0 0 0 rg BT 247.98 622.10 Td (classify ) Tj ET Q q 0 0 0 rg BT 280.93 622.10 Td (leases ) Tj ET Q q 0 0 0 rg BT 307.21 622.10 Td (as ) Tj ET Q q 0 0 0 rg BT 317.94 622.10 Td (either ) Tj ET Q q 0 0 0 rg BT 343.11 622.10 Td (financing ) Tj ET Q q 0 0 0 rg BT 383.28 622.10 Td (or ) Tj ET Q q 0 0 0 rg BT 394.02 622.10 Td (operating, ) Tj ET Q q 0 0 0 rg BT 436.68 622.10 Td (with ) Tj ET Q q 0 0 0 rg BT 456.87 622.10 Td (classification ) Tj ET Q q 0 0 0 rg BT 512.03 622.10 Td (af) Tj ET Q q 0 0 0 rg BT 519.62 622.10 Td (fecting ) Tj ET Q q 0 0 0 rg BT 549.79 622.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (pattern ) Tj ET Q q 0 0 0 rg BT 80.91 610.10 Td (of ) Tj ET Q q 0 0 0 rg BT 92.38 610.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 127.73 610.10 Td (recognition. ) Tj ET Q q 0 0 0 rg BT 178.68 610.10 Td (The ) Tj ET Q q 0 0 0 rg BT 197.37 610.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 244.39 610.10 Td (applied ) Tj ET Q q 0 0 0 rg BT 276.96 610.10 Td (by ) Tj ET Q q 0 0 0 rg BT 290.10 610.10 Td (a ) Tj ET Q q 0 0 0 rg BT 297.69 610.10 Td (lessor ) Tj ET Q q 0 0 0 rg BT 324.16 610.10 Td (under ) Tj ET Q q 0 0 0 rg BT 350.07 610.10 Td (the ) Tj ET Q q 0 0 0 rg BT 365.43 610.10 Td (new ) Tj ET Q q 0 0 0 rg BT 385.23 610.10 Td (guidance ) Tj ET Q q 0 0 0 rg BT 424.47 610.10 Td (will ) Tj ET Q q 0 0 0 rg BT 443.16 610.10 Td (be ) Tj ET Q q 0 0 0 rg BT 455.74 610.10 Td (substantially ) Tj ET Q q 0 0 0 rg BT 509.44 610.10 Td (equivalent ) Tj ET Q q 0 0 0 rg BT 554.23 610.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (current ) Tj ET Q q 0 0 0 rg BT 81.77 598.10 Td (lease ) Tj ET Q q 0 0 0 rg BT 105.21 598.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 152.54 598.10 Td (guidance. ) Tj ET Q q 0 0 0 rg BT 194.59 598.10 Td ( ) Tj ET Q q 0 0 0 rg BT 197.80 598.10 Td (This ) Tj ET Q q 0 0 0 rg BT 218.27 598.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 241.74 598.10 Td (is ) Tj ET Q q 0 0 0 rg BT 251.86 598.10 Td (required ) Tj ET Q q 0 0 0 rg BT 288.64 598.10 Td (to ) Tj ET Q q 0 0 0 rg BT 299.87 598.10 Td (be ) Tj ET Q q 0 0 0 rg BT 312.77 598.10 Td (applied ) Tj ET Q q 0 0 0 rg BT 345.66 598.10 Td (with ) Tj ET Q q 0 0 0 rg BT 366.89 598.10 Td (a ) Tj ET Q q 0 0 0 rg BT 374.79 598.10 Td (modified ) Tj ET Q q 0 0 0 rg BT 414.35 598.10 Td (retrospective ) Tj ET Q q 0 0 0 rg BT 469.45 598.10 Td (approach ) Tj ET Q q 0 0 0 rg BT 509.55 598.10 Td (to ) Tj ET Q q 0 0 0 rg BT 520.78 598.10 Td (each ) Tj ET Q q 0 0 0 rg BT 542.56 598.10 Td (prior ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (reporting ) Tj ET Q q 0 0 0 rg BT 88.37 586.10 Td (period ) Tj ET Q q 0 0 0 rg BT 115.63 586.10 Td (presented ) Tj ET Q q 0 0 0 rg BT 155.66 586.10 Td (and ) Tj ET Q q 0 0 0 rg BT 171.81 586.10 Td (provides ) Tj ET Q q 0 0 0 rg BT 207.96 586.10 Td (for ) Tj ET Q q 0 0 0 rg BT 221.33 586.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 250.25 586.10 Td (practical ) Tj ET Q q 0 0 0 rg BT 286.38 586.10 Td (expedients. ) Tj ET Q q 0 0 0 rg BT 333.36 586.10 Td ( ) Tj ET Q q 0 0 0 rg BT 334.94 586.10 Td (The ) Tj ET Q q 0 0 0 rg BT 352.20 586.10 Td (guidance ) Tj ET Q q 0 0 0 rg BT 390.01 586.10 Td (will ) Tj ET Q q 0 0 0 rg BT 407.28 586.10 Td (be ) Tj ET Q q 0 0 0 rg BT 418.43 586.10 Td (ef) Tj ET Q q 0 0 0 rg BT 426.02 586.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 454.93 586.10 Td (for ) Tj ET Q q 0 0 0 rg BT 468.31 586.10 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 491.68 586.10 Td (years, ) Tj ET Q q 0 0 0 rg BT 516.99 586.10 Td (and ) Tj ET Q q 0 0 0 rg BT 533.14 586.10 Td (interim ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (periods ) Tj ET Q q 0 0 0 rg BT 82.24 574.10 Td (within ) Tj ET Q q 0 0 0 rg BT 110.60 574.10 Td (those ) Tj ET Q q 0 0 0 rg BT 134.51 574.10 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 158.97 574.10 Td (years, ) Tj ET Q q 0 0 0 rg BT 185.37 574.10 Td (beginning ) Tj ET Q q 0 0 0 rg BT 228.16 574.10 Td (after ) Tj ET Q q 0 0 0 rg BT 249.28 574.10 Td (December ) Tj ET Q q 0 0 0 rg BT 293.17 574.10 Td (15, ) Tj ET Q q 0 0 0 rg BT 308.47 574.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 333.77 574.10 Td (with ) Tj ET Q q 0 0 0 rg BT 354.35 574.10 Td (early ) Tj ET Q q 0 0 0 rg BT 377.14 574.10 Td (adoption ) Tj ET Q q 0 0 0 rg BT 414.93 574.10 Td (permitted. ) Tj ET Q q 0 0 0 rg BT 458.56 574.10 Td ( ) Tj ET Q q 0 0 0 rg BT 461.36 574.10 Td (For ) Tj ET Q q 0 0 0 rg BT 478.05 574.10 Td (leases ) Tj ET Q q 0 0 0 rg BT 504.73 574.10 Td (with ) Tj ET Q q 0 0 0 rg BT 525.31 574.10 Td (a ) Tj ET Q q 0 0 0 rg BT 532.55 574.10 Td (term ) Tj ET Q q 0 0 0 rg BT 553.68 574.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (12 ) Tj ET Q q 0 0 0 rg BT 62.46 562.10 Td (months ) Tj ET Q q 0 0 0 rg BT 94.37 562.10 Td (or ) Tj ET Q q 0 0 0 rg BT 105.15 562.10 Td (less, ) Tj ET Q q 0 0 0 rg BT 125.11 562.10 Td (a ) Tj ET Q q 0 0 0 rg BT 132.01 562.10 Td (lessee ) Tj ET Q q 0 0 0 rg BT 158.34 562.10 Td (is ) Tj ET Q q 0 0 0 rg BT 167.47 562.10 Td (permitted ) Tj ET Q q 0 0 0 rg BT 208.25 562.10 Td (to ) Tj ET Q q 0 0 0 rg BT 218.49 562.10 Td (make ) Tj ET Q q 0 0 0 rg BT 242.60 562.10 Td (an ) Tj ET Q q 0 0 0 rg BT 254.50 562.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 300.83 562.10 Td (policy ) Tj ET Q q 0 0 0 rg BT 328.28 562.10 Td (election ) Tj ET Q q 0 0 0 rg BT 362.39 562.10 Td (by ) Tj ET Q q 0 0 0 rg BT 374.85 562.10 Td (class ) Tj ET Q q 0 0 0 rg BT 396.75 562.10 Td (of ) Tj ET Q q 0 0 0 rg BT 407.54 562.10 Td (underlying ) Tj ET Q q 0 0 0 rg BT 453.32 562.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 475.22 562.10 Td (not ) Tj ET Q q 0 0 0 rg BT 490.45 562.10 Td (to ) Tj ET Q q 0 0 0 rg BT 500.69 562.10 Td (recognize ) Tj ET Q q 0 0 0 rg BT 542.01 562.10 Td (lease ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 75.39 550.10 Td (and ) Tj ET Q q 0 0 0 rg BT 91.89 550.10 Td (lease ) Tj ET Q q 0 0 0 rg BT 113.94 550.10 Td (liabilities. ) Tj ET Q q 0 0 0 rg BT 155.72 550.10 Td (If ) Tj ET Q q 0 0 0 rg BT 164.44 550.10 Td (a ) Tj ET Q q 0 0 0 rg BT 170.94 550.10 Td (lessee ) Tj ET Q q 0 0 0 rg BT 196.88 550.10 Td (makes ) Tj ET Q q 0 0 0 rg BT 224.49 550.10 Td (this ) Tj ET Q q 0 0 0 rg BT 241.00 550.10 Td (election, ) Tj ET Q q 0 0 0 rg BT 277.21 550.10 Td (it ) Tj ET Q q 0 0 0 rg BT 284.83 550.10 Td (should ) Tj ET Q q 0 0 0 rg BT 313.56 550.10 Td (recognize ) Tj ET Q q 0 0 0 rg BT 354.49 550.10 Td (lease ) Tj ET Q q 0 0 0 rg BT 376.53 550.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 410.80 550.10 Td (for ) Tj ET Q q 0 0 0 rg BT 424.53 550.10 Td (such ) Tj ET Q q 0 0 0 rg BT 444.92 550.10 Td (leases ) Tj ET Q q 0 0 0 rg BT 470.86 550.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 510.12 550.10 Td (on ) Tj ET Q q 0 0 0 rg BT 522.18 550.10 Td (a ) Tj ET Q q 0 0 0 rg BT 528.68 550.10 Td (straight-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (line ) Tj ET Q q 0 0 0 rg BT 67.11 538.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 89.22 538.10 Td (over ) Tj ET Q q 0 0 0 rg BT 109.10 538.10 Td (the ) Tj ET Q q 0 0 0 rg BT 123.43 538.10 Td (lease ) Tj ET Q q 0 0 0 rg BT 145.52 538.10 Td (term. ) Tj ET Q q 0 0 0 rg BT 168.46 538.10 Td ( ) Tj ET Q q 0 0 0 rg BT 170.11 538.10 Td (At ) Tj ET Q q 0 0 0 rg BT 182.22 538.10 Td (the ) Tj ET Q q 0 0 0 rg BT 196.55 538.10 Td (time ) Tj ET Q q 0 0 0 rg BT 216.43 538.10 Td (of ) Tj ET Q q 0 0 0 rg BT 226.88 538.10 Td (adoption ) Tj ET Q q 0 0 0 rg BT 263.98 538.10 Td (of ) Tj ET Q q 0 0 0 rg BT 274.42 538.10 Td (this ) Tj ET Q q 0 0 0 rg BT 290.52 538.10 Td (ASU, ) Tj ET Q q 0 0 0 rg BT 315.13 538.10 Td (the ) Tj ET Q q 0 0 0 rg BT 329.46 538.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 370.46 538.10 Td (will ) Tj ET Q q 0 0 0 rg BT 388.13 538.10 Td (have ) Tj ET Q q 0 0 0 rg BT 409.12 538.10 Td (two ) Tj ET Q q 0 0 0 rg BT 426.23 538.10 Td (leases, ) Tj ET Q q 0 0 0 rg BT 454.72 538.10 Td (one ) Tj ET Q q 0 0 0 rg BT 471.27 538.10 Td (that ) Tj ET Q q 0 0 0 rg BT 488.38 538.10 Td (ends ) Tj ET Q q 0 0 0 rg BT 508.82 538.10 Td (on ) Tj ET Q q 0 0 0 rg BT 520.93 538.10 Td (December ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 64.51 526.10 Td (2019, ) Tj ET Q q 0 0 0 rg BT 89.03 526.10 Td (related ) Tj ET Q q 0 0 0 rg BT 118.24 526.10 Td (to ) Tj ET Q q 0 0 0 rg BT 128.04 526.10 Td (its ) Tj ET Q q 0 0 0 rg BT 139.50 526.10 Td (former ) Tj ET Q q 0 0 0 rg BT 168.72 526.10 Td (space ) Tj ET Q q 0 0 0 rg BT 192.94 526.10 Td (in ) Tj ET Q q 0 0 0 rg BT 202.73 526.10 Td (New ) Tj ET Q q 0 0 0 rg BT 223.33 526.10 Td (Y) Tj ET Q q 0 0 0 rg BT 229.55 526.10 Td (ork, ) Tj ET Q q 0 0 0 rg BT 247.40 526.10 Td (New ) Tj ET Q q 0 0 0 rg BT 267.99 526.10 Td (Y) Tj ET Q q 0 0 0 rg BT 274.21 526.10 Td (ork, ) Tj ET Q q 0 0 0 rg BT 292.06 526.10 Td (and ) Tj ET Q q 0 0 0 rg BT 308.51 526.10 Td (a ) Tj ET Q q 0 0 0 rg BT 314.96 526.10 Td (month-to-month ) Tj ET Q q 0 0 0 rg BT 382.53 526.10 Td (lease ) Tj ET Q q 0 0 0 rg BT 404.53 526.10 Td (at ) Tj ET Q q 0 0 0 rg BT 413.76 526.10 Td (its ) Tj ET Q q 0 0 0 rg BT 425.22 526.10 Td (current ) Tj ET Q q 0 0 0 rg BT 455.55 526.10 Td (location ) Tj ET Q q 0 0 0 rg BT 489.78 526.10 Td (in ) Tj ET Q q 0 0 0 rg BT 499.57 526.10 Td (Montclair) Tj ET Q q 0 0 0 rg BT 538.60 526.10 Td (, ) Tj ET Q q 0 0 0 rg BT 543.12 526.10 Td (New ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (Jersey) Tj ET Q q 0 0 0 rg BT 74.34 514.10 Td (. ) Tj ET Q q 0 0 0 rg BT 79.07 514.10 Td ( ) Tj ET Q q 0 0 0 rg BT 81.14 514.10 Td (The ) Tj ET Q q 0 0 0 rg BT 98.92 514.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 140.03 514.10 Td (currently ) Tj ET Q q 0 0 0 rg BT 178.36 514.10 Td (plans ) Tj ET Q q 0 0 0 rg BT 201.70 514.10 Td (to ) Tj ET Q q 0 0 0 rg BT 211.71 514.10 Td (make ) Tj ET Q q 0 0 0 rg BT 235.59 514.10 Td (the ) Tj ET Q q 0 0 0 rg BT 250.04 514.10 Td (election ) Tj ET Q q 0 0 0 rg BT 283.92 514.10 Td (discussed ) Tj ET Q q 0 0 0 rg BT 324.48 514.10 Td (above, ) Tj ET Q q 0 0 0 rg BT 353.09 514.10 Td (which ) Tj ET Q q 0 0 0 rg BT 379.76 514.10 Td (is ) Tj ET Q q 0 0 0 rg BT 388.66 514.10 Td (consistent ) Tj ET Q q 0 0 0 rg BT 430.88 514.10 Td (with ) Tj ET Q q 0 0 0 rg BT 450.89 514.10 Td (how ) Tj ET Q q 0 0 0 rg BT 470.34 514.10 Td (the ) Tj ET Q q 0 0 0 rg BT 484.79 514.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 525.91 514.10 Td (currently ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (accounts ) Tj ET Q q 0 0 0 rg BT 87.48 502.10 Td (for ) Tj ET Q q 0 0 0 rg BT 101.64 502.10 Td (its ) Tj ET Q q 0 0 0 rg BT 113.58 502.10 Td (leases. ) Tj ET Q q 0 0 0 rg BT 142.46 502.10 Td ( ) Tj ET Q q 0 0 0 rg BT 144.77 502.10 Td (The ) Tj ET Q q 0 0 0 rg BT 162.82 502.10 Td (Company) Tj ET Q q 0 0 0 rg BT 201.05 502.10 Td (, ) Tj ET Q q 0 0 0 rg BT 206.05 502.10 Td (therefore, ) Tj ET Q q 0 0 0 rg BT 247.13 502.10 Td (does ) Tj ET Q q 0 0 0 rg BT 267.96 502.10 Td (not ) Tj ET Q q 0 0 0 rg BT 283.23 502.10 Td (expect ) Tj ET Q q 0 0 0 rg BT 311.82 502.10 Td (adoption ) Tj ET Q q 0 0 0 rg BT 349.31 502.10 Td (of ) Tj ET Q q 0 0 0 rg BT 360.14 502.10 Td (this ) Tj ET Q q 0 0 0 rg BT 376.53 502.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 399.04 502.10 Td (to ) Tj ET Q q 0 0 0 rg BT 409.31 502.10 Td (have ) Tj ET Q q 0 0 0 rg BT 430.68 502.10 Td (a ) Tj ET Q q 0 0 0 rg BT 437.62 502.10 Td (material ) Tj ET Q q 0 0 0 rg BT 472.88 502.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 502.58 502.10 Td (on ) Tj ET Q q 0 0 0 rg BT 515.08 502.10 Td (its ) Tj ET Q q 0 0 0 rg BT 527.02 502.10 Td (financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 466.10 Td (On ) Tj ET Q q 0 0 0 rg BT 100.05 466.10 Td (May ) Tj ET Q q 0 0 0 rg BT 120.22 466.10 Td (28, ) Tj ET Q q 0 0 0 rg BT 134.55 466.10 Td (2014, ) Tj ET Q q 0 0 0 rg BT 158.88 466.10 Td (the ) Tj ET Q q 0 0 0 rg BT 172.93 466.10 Td (F) Tj ET Q q 0 0 0 rg BT 177.75 466.10 Td (ASB ) Tj ET Q q 0 0 0 rg BT 199.04 466.10 Td (and ) Tj ET Q q 0 0 0 rg BT 215.31 466.10 Td (the ) Tj ET Q q 0 0 0 rg BT 229.36 466.10 Td (International ) Tj ET Q q 0 0 0 rg BT 281.87 466.10 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 330.36 466.10 Td (Standards ) Tj ET Q q 0 0 0 rg BT 371.63 466.10 Td (Board ) Tj ET Q q 0 0 0 rg BT 397.90 466.10 Td (\("IASB"\) ) Tj ET Q q 0 0 0 rg BT 437.34 466.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 463.77 466.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 485.61 466.10 Td (2014-09,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 523.94 466.10 Td ("Revenue ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (fr) Tj ET Q q 0 0 0 rg BT 56.30 454.10 Td (om ) Tj ET Q q 0 0 0 rg BT 70.85 454.10 Td (Contracts ) Tj ET Q q 0 0 0 rg BT 112.63 454.10 Td (with ) Tj ET Q q 0 0 0 rg BT 132.18 454.10 Td (Customers ) Tj ET Q q 0 0 0 rg BT 177.29 454.10 Td (\(T) Tj ET Q q 0 0 0 rg BT 185.27 454.10 Td (opic ) Tj ET Q q 0 0 0 rg BT 204.81 454.10 Td (606\),") Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.84 454.10 Td (their ) Tj ET Q q 0 0 0 rg BT 253.00 454.10 Td (final ) Tj ET Q q 0 0 0 rg BT 273.65 454.10 Td (conver) Tj ET Q q 0 0 0 rg BT 300.68 454.10 Td (ged ) Tj ET Q q 0 0 0 rg BT 317.45 454.10 Td (standard ) Tj ET Q q 0 0 0 rg BT 353.65 454.10 Td (on ) Tj ET Q q 0 0 0 rg BT 365.98 454.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 399.96 454.10 Td (recognition. ) Tj ET Q q 0 0 0 rg BT 450.16 454.10 Td (This ) Tj ET Q q 0 0 0 rg BT 469.75 454.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 492.09 454.10 Td (provides ) Tj ET Q q 0 0 0 rg BT 528.85 454.10 Td (a ) Tj ET Q q 0 0 0 rg BT 535.62 454.10 Td (single, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (comprehensive ) Tj ET Q q 0 0 0 rg BT 112.77 442.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 146.66 442.10 Td (recognition ) Tj ET Q q 0 0 0 rg BT 194.44 442.10 Td (model ) Tj ET Q q 0 0 0 rg BT 221.68 442.10 Td (for ) Tj ET Q q 0 0 0 rg BT 235.58 442.10 Td (all ) Tj ET Q q 0 0 0 rg BT 247.81 442.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 286.15 442.10 Td (with ) Tj ET Q q 0 0 0 rg BT 306.16 442.10 Td (customers ) Tj ET Q q 0 0 0 rg BT 348.95 442.10 Td (and ) Tj ET Q q 0 0 0 rg BT 365.63 442.10 Td (supersedes ) Tj ET Q q 0 0 0 rg BT 411.19 442.10 Td (current ) Tj ET Q q 0 0 0 rg BT 441.75 442.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 475.63 442.10 Td (recognition ) Tj ET Q q 0 0 0 rg BT 523.41 442.10 Td (guidance. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (The ) Tj ET Q q 0 0 0 rg BT 68.88 430.10 Td (guidance ) Tj ET Q q 0 0 0 rg BT 108.30 430.10 Td (contains ) Tj ET Q q 0 0 0 rg BT 144.96 430.10 Td (principles ) Tj ET Q q 0 0 0 rg BT 187.72 430.10 Td (that ) Tj ET Q q 0 0 0 rg BT 206.04 430.10 Td (an ) Tj ET Q q 0 0 0 rg BT 218.81 430.10 Td (entity ) Tj ET Q q 0 0 0 rg BT 244.92 430.10 Td (will ) Tj ET Q q 0 0 0 rg BT 263.80 430.10 Td (apply ) Tj ET Q q 0 0 0 rg BT 289.35 430.10 Td (to ) Tj ET Q q 0 0 0 rg BT 300.46 430.10 Td (determine ) Tj ET Q q 0 0 0 rg BT 343.77 430.10 Td (the ) Tj ET Q q 0 0 0 rg BT 359.32 430.10 Td (measurement ) Tj ET Q q 0 0 0 rg BT 415.96 430.10 Td (of ) Tj ET Q q 0 0 0 rg BT 427.62 430.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 462.59 430.10 Td (and ) Tj ET Q q 0 0 0 rg BT 480.36 430.10 Td (timing ) Tj ET Q q 0 0 0 rg BT 509.80 430.10 Td (of ) Tj ET Q q 0 0 0 rg BT 521.46 430.10 Td (when ) Tj ET Q q 0 0 0 rg BT 546.46 430.10 Td (it ) Tj ET Q q 0 0 0 rg BT 555.34 430.10 Td (is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (recognized. ) Tj ET Q q 0 0 0 rg BT 98.00 418.10 Td (The ) Tj ET Q q 0 0 0 rg BT 115.32 418.10 Td (underlying ) Tj ET Q q 0 0 0 rg BT 160.41 418.10 Td (principle ) Tj ET Q q 0 0 0 rg BT 197.72 418.10 Td (is ) Tj ET Q q 0 0 0 rg BT 206.16 418.10 Td (that ) Tj ET Q q 0 0 0 rg BT 222.93 418.10 Td (an ) Tj ET Q q 0 0 0 rg BT 234.14 418.10 Td (entity ) Tj ET Q q 0 0 0 rg BT 258.68 418.10 Td (will ) Tj ET Q q 0 0 0 rg BT 276.00 418.10 Td (recognize ) Tj ET Q q 0 0 0 rg BT 316.63 418.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 350.05 418.10 Td (to ) Tj ET Q q 0 0 0 rg BT 359.60 418.10 Td (depict ) Tj ET Q q 0 0 0 rg BT 385.80 418.10 Td (the ) Tj ET Q q 0 0 0 rg BT 399.79 418.10 Td (transfer ) Tj ET Q q 0 0 0 rg BT 432.09 418.10 Td (of ) Tj ET Q q 0 0 0 rg BT 442.19 418.10 Td (goods ) Tj ET Q q 0 0 0 rg BT 467.85 418.10 Td (or ) Tj ET Q q 0 0 0 rg BT 477.95 418.10 Td (services ) Tj ET Q q 0 0 0 rg BT 511.93 418.10 Td (to ) Tj ET Q q 0 0 0 rg BT 521.47 418.10 Td (customers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (at ) Tj ET Q q 0 0 0 rg BT 59.99 406.10 Td (an ) Tj ET Q q 0 0 0 rg BT 72.20 406.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 104.97 406.10 Td (that ) Tj ET Q q 0 0 0 rg BT 122.74 406.10 Td (the ) Tj ET Q q 0 0 0 rg BT 137.73 406.10 Td (entity ) Tj ET Q q 0 0 0 rg BT 163.28 406.10 Td (expects ) Tj ET Q q 0 0 0 rg BT 196.04 406.10 Td (to ) Tj ET Q q 0 0 0 rg BT 206.59 406.10 Td (be ) Tj ET Q q 0 0 0 rg BT 218.80 406.10 Td (entitled ) Tj ET Q q 0 0 0 rg BT 251.56 406.10 Td (to ) Tj ET Q q 0 0 0 rg BT 262.11 406.10 Td (in ) Tj ET Q q 0 0 0 rg BT 272.67 406.10 Td (exchange ) Tj ET Q q 0 0 0 rg BT 313.19 406.10 Td (for ) Tj ET Q q 0 0 0 rg BT 327.63 406.10 Td (those ) Tj ET Q q 0 0 0 rg BT 351.51 406.10 Td (goods ) Tj ET Q q 0 0 0 rg BT 378.17 406.10 Td (or ) Tj ET Q q 0 0 0 rg BT 389.28 406.10 Td (services. ) Tj ET Q q 0 0 0 rg BT 426.56 406.10 Td (This ) Tj ET Q q 0 0 0 rg BT 446.50 406.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 469.28 406.10 Td (also ) Tj ET Q q 0 0 0 rg BT 488.16 406.10 Td (includes ) Tj ET Q q 0 0 0 rg BT 524.26 406.10 Td (enhanced ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (disclosures ) Tj ET Q q 0 0 0 rg BT 95.91 394.10 Td (that ) Tj ET Q q 0 0 0 rg BT 112.39 394.10 Td (are ) Tj ET Q q 0 0 0 rg BT 126.07 394.10 Td (significantly ) Tj ET Q q 0 0 0 rg BT 177.54 394.10 Td (more ) Tj ET Q q 0 0 0 rg BT 199.56 394.10 Td (comprehensive ) Tj ET Q q 0 0 0 rg BT 261.57 394.10 Td (than ) Tj ET Q q 0 0 0 rg BT 280.26 394.10 Td (those ) Tj ET Q q 0 0 0 rg BT 302.84 394.10 Td (in ) Tj ET Q q 0 0 0 rg BT 312.10 394.10 Td (existing ) Tj ET Q q 0 0 0 rg BT 345.24 394.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 378.36 394.10 Td (standards. ) Tj ET Q q 0 0 0 rg BT 420.00 394.10 Td (This ) Tj ET Q q 0 0 0 rg BT 438.93 394.10 Td (ASU, ) Tj ET Q q 0 0 0 rg BT 462.91 394.10 Td (as ) Tj ET Q q 0 0 0 rg BT 472.71 394.10 Td (amended, ) Tj ET Q q 0 0 0 rg BT 512.78 394.10 Td (is ) Tj ET Q q 0 0 0 rg BT 520.93 394.10 Td (applicable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (for ) Tj ET Q q 0 0 0 rg BT 65.05 382.10 Td (most ) Tj ET Q q 0 0 0 rg BT 87.89 382.10 Td (entities ) Tj ET Q q 0 0 0 rg BT 120.17 382.10 Td (starting ) Tj ET Q q 0 0 0 rg BT 153.56 382.10 Td (in ) Tj ET Q q 0 0 0 rg BT 164.73 382.10 Td (2018. ) Tj ET Q q 0 0 0 rg BT 190.37 382.10 Td (The ) Tj ET Q q 0 0 0 rg BT 209.31 382.10 Td (guidance ) Tj ET Q q 0 0 0 rg BT 248.80 382.10 Td (is ) Tj ET Q q 0 0 0 rg BT 258.86 382.10 Td (be ) Tj ET Q q 0 0 0 rg BT 271.69 382.10 Td (ef) Tj ET Q q 0 0 0 rg BT 279.28 382.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 309.88 382.10 Td (for ) Tj ET Q q 0 0 0 rg BT 324.93 382.10 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 349.98 382.10 Td (years, ) Tj ET Q q 0 0 0 rg BT 376.97 382.10 Td (and ) Tj ET Q q 0 0 0 rg BT 394.80 382.10 Td (interim ) Tj ET Q q 0 0 0 rg BT 427.07 382.10 Td (periods ) Tj ET Q q 0 0 0 rg BT 459.90 382.10 Td (within ) Tj ET Q q 0 0 0 rg BT 488.85 382.10 Td (those ) Tj ET Q q 0 0 0 rg BT 513.35 382.10 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 538.40 382.10 Td (years, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (beginning ) Tj ET Q q 0 0 0 rg BT 93.62 370.10 Td (after ) Tj ET Q q 0 0 0 rg BT 115.56 370.10 Td (December ) Tj ET Q q 0 0 0 rg BT 160.27 370.10 Td (15, ) Tj ET Q q 0 0 0 rg BT 176.40 370.10 Td (2017. ) Tj ET Q q 0 0 0 rg BT 202.26 370.10 Td (The ) Tj ET Q q 0 0 0 rg BT 221.43 370.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 263.94 370.10 Td (generates ) Tj ET Q q 0 0 0 rg BT 305.32 370.10 Td (fees ) Tj ET Q q 0 0 0 rg BT 325.05 370.10 Td (for ) Tj ET Q q 0 0 0 rg BT 340.33 370.10 Td (providing ) Tj ET Q q 0 0 0 rg BT 382.85 370.10 Td (managerial ) Tj ET Q q 0 0 0 rg BT 430.89 370.10 Td (services ) Tj ET Q q 0 0 0 rg BT 466.72 370.10 Td (to ) Tj ET Q q 0 0 0 rg BT 478.13 370.10 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 516.75 370.10 Td (companies, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (management ) Tj ET Q q 0 0 0 rg BT 102.69 358.10 Td (fees ) Tj ET Q q 0 0 0 rg BT 120.38 358.10 Td (and ) Tj ET Q q 0 0 0 rg BT 136.42 358.10 Td (carried ) Tj ET Q q 0 0 0 rg BT 165.77 358.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 196.80 358.10 Td (from ) Tj ET Q q 0 0 0 rg BT 217.84 358.10 Td (the ) Tj ET Q q 0 0 0 rg BT 231.66 358.10 Td (management ) Tj ET Q q 0 0 0 rg BT 284.34 358.10 Td (of ) Tj ET Q q 0 0 0 rg BT 294.27 358.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 322.52 358.10 Td (in ) Tj ET Q q 0 0 0 rg BT 331.90 358.10 Td (funds ) Tj ET Q q 0 0 0 rg BT 355.72 358.10 Td (and ) Tj ET Q q 0 0 0 rg BT 371.75 358.10 Td (special ) Tj ET Q q 0 0 0 rg BT 401.11 358.10 Td (purpose ) Tj ET Q q 0 0 0 rg BT 434.37 358.10 Td (vehicles. ) Tj ET Q q 0 0 0 rg BT 471.23 358.10 Td ( ) Tj ET Q q 0 0 0 rg BT 472.72 358.10 Td (The ) Tj ET Q q 0 0 0 rg BT 489.86 358.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 530.35 358.10 Td (adopted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (this ) Tj ET Q q 0 0 0 rg BT 67.27 346.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 90.89 346.10 Td (in ) Tj ET Q q 0 0 0 rg BT 102.29 346.10 Td (its ) Tj ET Q q 0 0 0 rg BT 115.35 346.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 153.95 346.10 Td (statements, ) Tj ET Q q 0 0 0 rg BT 202.28 346.10 Td (and ) Tj ET Q q 0 0 0 rg BT 220.34 346.10 Td (discloses ) Tj ET Q q 0 0 0 rg BT 260.07 346.10 Td (the ) Tj ET Q q 0 0 0 rg BT 275.90 346.10 Td (recognition ) Tj ET Q q 0 0 0 rg BT 325.06 346.10 Td (of ) Tj ET Q q 0 0 0 rg BT 337.01 346.10 Td (these ) Tj ET Q q 0 0 0 rg BT 361.17 346.10 Td (revenues ) Tj ET Q q 0 0 0 rg BT 400.33 346.10 Td (in ) Tj ET Q q 0 0 0 rg BT 411.73 346.10 Td (its ) Tj ET Q q 0 0 0 rg BT 424.79 346.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 481.18 346.10 Td (Statement ) Tj ET Q q 0 0 0 rg BT 524.79 346.10 Td (Financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td (Statements. ) Tj ET Q q 0 0 0 rg BT 98.61 334.10 Td (The ) Tj ET Q q 0 0 0 rg BT 116.57 334.10 Td (adoption ) Tj ET Q q 0 0 0 rg BT 153.97 334.10 Td (of ) Tj ET Q q 0 0 0 rg BT 164.70 334.10 Td (this ) Tj ET Q q 0 0 0 rg BT 181.03 334.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 203.44 334.10 Td (did ) Tj ET Q q 0 0 0 rg BT 218.62 334.10 Td (not ) Tj ET Q q 0 0 0 rg BT 233.81 334.10 Td (have ) Tj ET Q q 0 0 0 rg BT 255.09 334.10 Td (a ) Tj ET Q q 0 0 0 rg BT 261.94 334.10 Td (material ) Tj ET Q q 0 0 0 rg BT 297.10 334.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 326.72 334.10 Td (on ) Tj ET Q q 0 0 0 rg BT 339.13 334.10 Td (the ) Tj ET Q q 0 0 0 rg BT 353.75 334.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 400.73 334.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 455.91 334.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 495.53 334.10 Td (Statements ) Tj ET Q q 0 0 0 rg BT 541.82 334.10 Td (as ) Tj ET Q q 0 0 0 rg BT 552.56 334.10 Td (its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 84.15 322.10 Td (recognition ) Tj ET Q q 0 0 0 rg BT 132.19 322.10 Td (policies ) Tj ET Q q 0 0 0 rg BT 165.79 322.10 Td (were ) Tj ET Q q 0 0 0 rg BT 187.72 322.10 Td (historically ) Tj ET Q q 0 0 0 rg BT 235.21 322.10 Td (substantially ) Tj ET Q q 0 0 0 rg BT 288.26 322.10 Td (similar ) Tj ET Q q 0 0 0 rg BT 318.54 322.10 Td (to ) Tj ET Q q 0 0 0 rg BT 328.81 322.10 Td (those ) Tj ET Q q 0 0 0 rg BT 352.42 322.10 Td (prescribed ) Tj ET Q q 0 0 0 rg BT 396.57 322.10 Td (by ) Tj ET Q q 0 0 0 rg BT 409.07 322.10 Td (the ) Tj ET Q q 0 0 0 rg BT 423.23 322.10 Td (ASU.) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 50 296.53505859375 m 280.087890625 296.53505859375 l s q 0 0 0 rg BT 50.00 298.10 Td (NOTE ) Tj ET Q q 0 0 0 rg BT 80.84 298.10 Td (3. ) Tj ET Q q 0 0 0 rg BT 90.84 298.10 Td (BUSINESS ) Tj ET Q q 0 0 0 rg BT 141.70 298.10 Td (RISKS ) Tj ET Q q 0 0 0 rg BT 173.66 298.10 Td (AND ) Tj ET Q q 0 0 0 rg BT 197.83 298.10 Td (UNCER) Tj ET Q q 0 0 0 rg BT 233.03 298.10 Td (T) Tj ET Q q 0 0 0 rg BT 238.96 298.10 Td (AINTIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 274.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 104.94 274.10 Td (business ) Tj ET Q q 0 0 0 rg BT 142.23 274.10 Td (activities ) Tj ET Q q 0 0 0 rg BT 181.72 274.10 Td (contain ) Tj ET Q q 0 0 0 rg BT 214.55 274.10 Td (elements ) Tj ET Q q 0 0 0 rg BT 253.48 274.10 Td (of ) Tj ET Q q 0 0 0 rg BT 265.20 274.10 Td (risk. ) Tj ET Q q 0 0 0 rg BT 285.85 274.10 Td (W) Tj ET Q q 0 0 0 rg BT 294.49 274.10 Td (e ) Tj ET Q q 0 0 0 rg BT 302.32 274.10 Td (consider ) Tj ET Q q 0 0 0 rg BT 339.59 274.10 Td (the ) Tj ET Q q 0 0 0 rg BT 355.20 274.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 394.13 274.10 Td (types ) Tj ET Q q 0 0 0 rg BT 418.63 274.10 Td (of ) Tj ET Q q 0 0 0 rg BT 430.36 274.10 Td (market ) Tj ET Q q 0 0 0 rg BT 461.51 274.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 479.90 274.10 Td (to ) Tj ET Q q 0 0 0 rg BT 491.08 274.10 Td (be ) Tj ET Q q 0 0 0 rg BT 503.91 274.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 544.51 274.10 Td (risk, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (diversification ) Tj ET Q q 0 0 0 rg BT 111.66 262.10 Td (risk, ) Tj ET Q q 0 0 0 rg BT 133.07 262.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 166.40 262.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 185.29 262.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 204.20 262.10 Td (and ) Tj ET Q q 0 0 0 rg BT 222.54 262.10 Td (foreign ) Tj ET Q q 0 0 0 rg BT 255.32 262.10 Td (currency ) Tj ET Q q 0 0 0 rg BT 294.20 262.10 Td (risk. ) Tj ET Q q 0 0 0 rg BT 314.74 262.10 Td (Although ) Tj ET Q q 0 0 0 rg BT 356.42 262.10 Td (we ) Tj ET Q q 0 0 0 rg BT 371.99 262.10 Td (are ) Tj ET Q q 0 0 0 rg BT 388.10 262.10 Td (risk-seeking ) Tj ET Q q 0 0 0 rg BT 440.88 262.10 Td (rather ) Tj ET Q q 0 0 0 rg BT 468.10 262.10 Td (than ) Tj ET Q q 0 0 0 rg BT 489.22 262.10 Td (risk-averse ) Tj ET Q q 0 0 0 rg BT 536.99 262.10 Td (in ) Tj ET Q q 0 0 0 rg BT 548.67 262.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (investments, ) Tj ET Q q 0 0 0 rg BT 102.77 250.10 Td (we ) Tj ET Q q 0 0 0 rg BT 116.93 250.10 Td (consider ) Tj ET Q q 0 0 0 rg BT 153.31 250.10 Td (the ) Tj ET Q q 0 0 0 rg BT 168.03 250.10 Td (management ) Tj ET Q q 0 0 0 rg BT 221.62 250.10 Td (of ) Tj ET Q q 0 0 0 rg BT 232.45 250.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 249.95 250.10 Td (to ) Tj ET Q q 0 0 0 rg BT 260.22 250.10 Td (be ) Tj ET Q q 0 0 0 rg BT 272.16 250.10 Td (essential ) Tj ET Q q 0 0 0 rg BT 309.10 250.10 Td (to ) Tj ET Q q 0 0 0 rg BT 319.38 250.10 Td (our ) Tj ET Q q 0 0 0 rg BT 335.21 250.10 Td (business.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td () Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (V) Tj ET Q q 0 0 0 rg BT 55.56 226.10 Td (aluation ) Tj ET Q q 0 0 0 rg BT 92.52 226.10 Td (Risk) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 202.10 Td (V) Tj ET Q q 0 0 0 rg BT 92.11 202.10 Td (alue, ) Tj ET Q q 0 0 0 rg BT 112.82 202.10 Td (as ) Tj ET Q q 0 0 0 rg BT 122.70 202.10 Td (defined ) Tj ET Q q 0 0 0 rg BT 154.24 202.10 Td (in ) Tj ET Q q 0 0 0 rg BT 163.57 202.10 Td (Section ) Tj ET Q q 0 0 0 rg BT 195.12 202.10 Td (2\(a\)\(41\) ) Tj ET Q q 0 0 0 rg BT 229.43 202.10 Td (of ) Tj ET Q q 0 0 0 rg BT 239.32 202.10 Td (the ) Tj ET Q q 0 0 0 rg BT 253.08 202.10 Td (1940 ) Tj ET Q q 0 0 0 rg BT 274.29 202.10 Td (Act, ) Tj ET Q q 0 0 0 rg BT 292.79 202.10 Td (is ) Tj ET Q q 0 0 0 rg BT 301.01 202.10 Td (\(i\) ) Tj ET Q q 0 0 0 rg BT 312.00 202.10 Td (the ) Tj ET Q q 0 0 0 rg BT 325.77 202.10 Td (market ) Tj ET Q q 0 0 0 rg BT 355.09 202.10 Td (price ) Tj ET Q q 0 0 0 rg BT 376.62 202.10 Td (for ) Tj ET Q q 0 0 0 rg BT 389.84 202.10 Td (those ) Tj ET Q q 0 0 0 rg BT 412.50 202.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 451.81 202.10 Td (for ) Tj ET Q q 0 0 0 rg BT 465.03 202.10 Td (which ) Tj ET Q q 0 0 0 rg BT 491.02 202.10 Td (market ) Tj ET Q q 0 0 0 rg BT 520.33 202.10 Td (quotations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (are ) Tj ET Q q 0 0 0 rg BT 64.23 190.10 Td (readily ) Tj ET Q q 0 0 0 rg BT 94.01 190.10 Td (available ) Tj ET Q q 0 0 0 rg BT 132.11 190.10 Td (and ) Tj ET Q q 0 0 0 rg BT 148.57 190.10 Td (\(ii\) ) Tj ET Q q 0 0 0 rg BT 162.81 190.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 178.70 190.10 Td (value ) Tj ET Q q 0 0 0 rg BT 202.37 190.10 Td (as ) Tj ET Q q 0 0 0 rg BT 212.72 190.10 Td (determined ) Tj ET Q q 0 0 0 rg BT 259.72 190.10 Td (in ) Tj ET Q q 0 0 0 rg BT 269.52 190.10 Td (good ) Tj ET Q q 0 0 0 rg BT 291.53 190.10 Td (faith ) Tj ET Q q 0 0 0 rg BT 311.88 190.10 Td (by) Tj ET Q q 0 0 0 rg BT 321.23 190.10 Td (, ) Tj ET Q q 0 0 0 rg BT 325.75 190.10 Td (or ) Tj ET Q q 0 0 0 rg BT 336.09 190.10 Td (under ) Tj ET Q q 0 0 0 rg BT 360.88 190.10 Td (the ) Tj ET Q q 0 0 0 rg BT 375.12 190.10 Td (direction ) Tj ET Q q 0 0 0 rg BT 412.68 190.10 Td (of, ) Tj ET Q q 0 0 0 rg BT 425.52 190.10 Td (the ) Tj ET Q q 0 0 0 rg BT 439.76 190.10 Td (Board ) Tj ET Q q 0 0 0 rg BT 466.22 190.10 Td (of ) Tj ET Q q 0 0 0 rg BT 476.56 190.10 Td (Directors ) Tj ET Q q 0 0 0 rg BT 515.79 190.10 Td (for ) Tj ET Q q 0 0 0 rg BT 529.47 190.10 Td (all ) Tj ET Q q 0 0 0 rg BT 541.48 190.10 Td (other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (assets. ) Tj ET Q q 0 0 0 rg BT 78.33 178.10 Td (See ) Tj ET Q q 0 0 0 rg BT 95.27 178.10 Td (Note ) Tj ET Q q 0 0 0 rg BT 117.21 178.10 Td (2. ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 127.20703125 176.76699218750002 m 306.07421875 176.76699218750002 l s q 0 0 0 rg BT 127.21 178.10 Td (Summary ) Tj ET Q q 0 0 0 rg BT 168.59 178.10 Td (of ) Tj ET Q q 0 0 0 rg BT 179.42 178.10 Td (Significant ) Tj ET Q q 0 0 0 rg BT 225.25 178.10 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 274.41 178.10 Td (Policies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.07 178.10 Td ( ) Tj ET Q q 0 0 0 rg BT 308.57 178.10 Td (for ) Tj ET Q q 0 0 0 rg BT 322.73 178.10 Td (further ) Tj ET Q q 0 0 0 rg BT 352.44 178.10 Td (discussion.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 154.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 154.10 Td (e ) Tj ET Q q 0 0 0 rg BT 101.76 154.10 Td (have ) Tj ET Q q 0 0 0 rg BT 123.32 154.10 Td (historically ) Tj ET Q q 0 0 0 rg BT 171.00 154.10 Td (invested ) Tj ET Q q 0 0 0 rg BT 207.01 154.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 246.90 154.10 Td (in ) Tj ET Q q 0 0 0 rg BT 257.37 154.10 Td (privately ) Tj ET Q q 0 0 0 rg BT 295.59 154.10 Td (held ) Tj ET Q q 0 0 0 rg BT 315.49 154.10 Td (companies, ) Tj ET Q q 0 0 0 rg BT 363.44 154.10 Td (the ) Tj ET Q q 0 0 0 rg BT 378.34 154.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 418.79 154.10 Td (of ) Tj ET Q q 0 0 0 rg BT 429.81 154.10 Td (which ) Tj ET Q q 0 0 0 rg BT 456.93 154.10 Td (are ) Tj ET Q q 0 0 0 rg BT 471.82 154.10 Td (inherently ) Tj ET Q q 0 0 0 rg BT 515.05 154.10 Td (illiquid. ) Tj ET Q q 0 0 0 rg BT 548.93 154.10 Td (W) Tj ET Q q 0 0 0 rg BT 557.57 154.10 Td (e ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td (are ) Tj ET Q q 0 0 0 rg BT 64.22 142.10 Td (currently ) Tj ET Q q 0 0 0 rg BT 102.32 142.10 Td (focused ) Tj ET Q q 0 0 0 rg BT 135.42 142.10 Td (on ) Tj ET Q q 0 0 0 rg BT 147.43 142.10 Td (investing ) Tj ET Q q 0 0 0 rg BT 186.11 142.10 Td (in ) Tj ET Q q 0 0 0 rg BT 195.89 142.10 Td (what ) Tj ET Q q 0 0 0 rg BT 217.34 142.10 Td (we ) Tj ET Q q 0 0 0 rg BT 231.01 142.10 Td (believe ) Tj ET Q q 0 0 0 rg BT 261.89 142.10 Td (are ) Tj ET Q q 0 0 0 rg BT 276.10 142.10 Td (deeply ) Tj ET Q q 0 0 0 rg BT 304.77 142.10 Td (undervalued ) Tj ET Q q 0 0 0 rg BT 356.20 142.10 Td (microcapitalization ) Tj ET Q q 0 0 0 rg BT 435.40 142.10 Td (publicly ) Tj ET Q q 0 0 0 rg BT 470.18 142.10 Td (traded ) Tj ET Q q 0 0 0 rg BT 497.17 142.10 Td (companies. ) Tj ET Q q 0 0 0 rg BT 544.44 142.10 Td ( ) Tj ET Q q 0 0 0 rg BT 546.45 142.10 Td (Our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.10 Td (publicly ) Tj ET Q q 0 0 0 rg BT 85.21 130.10 Td (traded ) Tj ET Q q 0 0 0 rg BT 112.63 130.10 Td (investments ) Tj ET Q q 0 0 0 rg BT 162.83 130.10 Td (account ) Tj ET Q q 0 0 0 rg BT 196.36 130.10 Td (for ) Tj ET Q q 0 0 0 rg BT 210.45 130.10 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.64 130.10 Td (33.2 ) Tj ET Q q 0 0 0 rg BT 290.58 130.10 Td (percent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.00 130.10 Td ( ) Tj ET Q q 0 0 0 rg BT 322.43 130.10 Td (of ) Tj ET Q q 0 0 0 rg BT 333.20 130.10 Td (the ) Tj ET Q q 0 0 0 rg BT 347.85 130.10 Td (value ) Tj ET Q q 0 0 0 rg BT 371.94 130.10 Td (of ) Tj ET Q q 0 0 0 rg BT 382.70 130.10 Td (our ) Tj ET Q q 0 0 0 rg BT 398.46 130.10 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 435.89 130.10 Td (of ) Tj ET Q q 0 0 0 rg BT 446.65 130.10 Td (investments. ) Tj ET Q q 0 0 0 rg BT 499.36 130.10 Td ( ) Tj ET Q q 0 0 0 rg BT 501.26 130.10 Td (Although ) Tj ET Q q 0 0 0 rg BT 541.47 130.10 Td (these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.10 Td (companies ) Tj ET Q q 0 0 0 rg BT 95.25 118.10 Td (are ) Tj ET Q q 0 0 0 rg BT 109.94 118.10 Td (publicly ) Tj ET Q q 0 0 0 rg BT 145.19 118.10 Td (traded, ) Tj ET Q q 0 0 0 rg BT 175.16 118.10 Td (their ) Tj ET Q q 0 0 0 rg BT 195.97 118.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 219.56 118.10 Td (may ) Tj ET Q q 0 0 0 rg BT 239.26 118.10 Td (not ) Tj ET Q q 0 0 0 rg BT 254.52 118.10 Td (trade ) Tj ET Q q 0 0 0 rg BT 276.99 118.10 Td (at ) Tj ET Q q 0 0 0 rg BT 286.69 118.10 Td (high ) Tj ET Q q 0 0 0 rg BT 306.95 118.10 Td (volumes, ) Tj ET Q q 0 0 0 rg BT 345.82 118.10 Td (which ) Tj ET Q q 0 0 0 rg BT 372.74 118.10 Td (may ) Tj ET Q q 0 0 0 rg BT 392.44 118.10 Td (restrict ) Tj ET Q q 0 0 0 rg BT 422.69 118.10 Td (our ) Tj ET Q q 0 0 0 rg BT 438.50 118.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 466.54 118.10 Td (to ) Tj ET Q q 0 0 0 rg BT 476.80 118.10 Td (sell ) Tj ET Q q 0 0 0 rg BT 493.17 118.10 Td (our ) Tj ET Q q 0 0 0 rg BT 508.98 118.10 Td (positions ) Tj ET Q q 0 0 0 rg BT 547.58 118.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 76.81 106.10 Td (can ) Tj ET Q q 0 0 0 rg BT 93.62 106.10 Td (be ) Tj ET Q q 0 0 0 rg BT 105.99 106.10 Td (volatile. ) Tj ET Q q 0 0 0 rg BT 141.20 106.10 Td (W) Tj ET Q q 0 0 0 rg BT 149.83 106.10 Td (e ) Tj ET Q q 0 0 0 rg BT 157.20 106.10 Td (may ) Tj ET Q q 0 0 0 rg BT 177.35 106.10 Td (also ) Tj ET Q q 0 0 0 rg BT 196.39 106.10 Td (be ) Tj ET Q q 0 0 0 rg BT 208.76 106.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 240.02 106.10 Td (to ) Tj ET Q q 0 0 0 rg BT 250.73 106.10 Td (restrictions ) Tj ET Q q 0 0 0 rg BT 298.09 106.10 Td (on ) Tj ET Q q 0 0 0 rg BT 311.02 106.10 Td (transfer ) Tj ET Q q 0 0 0 rg BT 344.49 106.10 Td (and/or ) Tj ET Q q 0 0 0 rg BT 372.97 106.10 Td (other ) Tj ET Q q 0 0 0 rg BT 396.45 106.10 Td (lock-up ) Tj ET Q q 0 0 0 rg BT 429.92 106.10 Td (provisions ) Tj ET Q q 0 0 0 rg BT 474.52 106.10 Td (after ) Tj ET Q q 0 0 0 rg BT 495.77 106.10 Td (these ) Tj ET Q q 0 0 0 rg BT 519.25 106.10 Td (companies ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.10 Td (initially ) Tj ET Q q 0 0 0 rg BT 83.41 94.10 Td (go ) Tj ET Q q 0 0 0 rg BT 95.71 94.10 Td (public. ) Tj ET Q q 0 0 0 rg BT 125.51 94.10 Td ( ) Tj ET Q q 0 0 0 rg BT 127.81 94.10 Td (Many ) Tj ET Q q 0 0 0 rg BT 153.44 94.10 Td (of ) Tj ET Q q 0 0 0 rg BT 164.07 94.10 Td (our ) Tj ET Q q 0 0 0 rg BT 179.70 94.10 Td (privately ) Tj ET Q q 0 0 0 rg BT 217.55 94.10 Td (held ) Tj ET Q q 0 0 0 rg BT 237.06 94.10 Td (and ) Tj ET Q q 0 0 0 rg BT 253.80 94.10 Td (publicly ) Tj ET Q q 0 0 0 rg BT 288.88 94.10 Td (traded ) Tj ET Q q 0 0 0 rg BT 316.17 94.10 Td (businesses ) Tj ET Q q 0 0 0 rg BT 360.69 94.10 Td (tend ) Tj ET Q q 0 0 0 rg BT 380.21 94.10 Td (to ) Tj ET Q q 0 0 0 rg BT 390.29 94.10 Td (not ) Tj ET Q q 0 0 0 rg BT 405.37 94.10 Td (have ) Tj ET Q q 0 0 0 rg BT 426.54 94.10 Td (attained ) Tj ET Q q 0 0 0 rg BT 460.50 94.10 Td (profitability) Tj ET Q q 0 0 0 rg BT 507.61 94.10 Td (, ) Tj ET Q q 0 0 0 rg BT 512.42 94.10 Td (and ) Tj ET Q q 0 0 0 rg BT 529.16 94.10 Td (many ) Tj ET Q q 0 0 0 rg BT 553.67 94.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.10 Td (these ) Tj ET Q q 0 0 0 rg BT 73.22 82.10 Td (businesses ) Tj ET Q q 0 0 0 rg BT 118.11 82.10 Td (also ) Tj ET Q q 0 0 0 rg BT 136.89 82.10 Td (lack ) Tj ET Q q 0 0 0 rg BT 156.22 82.10 Td (management ) Tj ET Q q 0 0 0 rg BT 209.98 82.10 Td (depth ) Tj ET Q q 0 0 0 rg BT 234.87 82.10 Td (and ) Tj ET Q q 0 0 0 rg BT 251.98 82.10 Td (have ) Tj ET Q q 0 0 0 rg BT 273.53 82.10 Td (limited ) Tj ET Q q 0 0 0 rg BT 304.53 82.10 Td (or ) Tj ET Q q 0 0 0 rg BT 315.54 82.10 Td (no ) Tj ET Q q 0 0 0 rg BT 328.21 82.10 Td (history ) Tj ET Q q 0 0 0 rg BT 358.66 82.10 Td (of ) Tj ET Q q 0 0 0 rg BT 369.66 82.10 Td (operations. ) Tj ET Q q 0 0 0 rg BT 416.49 82.10 Td (Because ) Tj ET Q q 0 0 0 rg BT 452.48 82.10 Td (of ) Tj ET Q q 0 0 0 rg BT 463.48 82.10 Td (the ) Tj ET Q q 0 0 0 rg BT 478.37 82.10 Td (speculative ) Tj ET Q q 0 0 0 rg BT 526.02 82.10 Td (nature ) Tj ET Q q 0 0 0 rg BT 553.68 82.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 70.10 Td (our ) Tj ET Q q 0 0 0 rg BT 65.62 70.10 Td (investments ) Tj ET Q q 0 0 0 rg BT 115.67 70.10 Td (and ) Tj ET Q q 0 0 0 rg BT 132.40 70.10 Td (the ) Tj ET Q q 0 0 0 rg BT 146.90 70.10 Td (lack ) Tj ET Q q 0 0 0 rg BT 165.84 70.10 Td (of ) Tj ET Q q 0 0 0 rg BT 176.46 70.10 Td (a ) Tj ET Q q 0 0 0 rg BT 183.18 70.10 Td (liquid ) Tj ET Q q 0 0 0 rg BT 208.80 70.10 Td (market ) Tj ET Q q 0 0 0 rg BT 238.85 70.10 Td (for ) Tj ET Q q 0 0 0 rg BT 252.79 70.10 Td (and ) Tj ET Q q 0 0 0 rg BT 269.52 70.10 Td (restrictions ) Tj ET Q q 0 0 0 rg BT 316.24 70.10 Td (on ) Tj ET Q q 0 0 0 rg BT 328.52 70.10 Td (transfers ) Tj ET Q q 0 0 0 rg BT 365.23 70.10 Td (of ) Tj ET Q q 0 0 0 rg BT 375.85 70.10 Td (privately ) Tj ET Q q 0 0 0 rg BT 413.68 70.10 Td (held ) Tj ET Q q 0 0 0 rg BT 433.18 70.10 Td (investments, ) Tj ET Q q 0 0 0 rg BT 485.74 70.10 Td (there ) Tj ET Q q 0 0 0 rg BT 508.01 70.10 Td (is ) Tj ET Q q 0 0 0 rg BT 516.96 70.10 Td (greater ) Tj ET Q q 0 0 0 rg BT 547.00 70.10 Td (risk ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 58.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.83 58.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 78.89 58.10 Td (relative ) Tj ET Q q 0 0 0 rg BT 111.37 58.10 Td (to ) Tj ET Q q 0 0 0 rg BT 121.65 58.10 Td (traditional ) Tj ET Q q 0 0 0 rg BT 165.25 58.10 Td (marketable ) Tj ET Q q 0 0 0 rg BT 212.17 58.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 258.55 58.10 Td (securities.) Tj ET Q endstream endobj 59 0 obj <> endobj 60 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (29) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 742.10 Td (Approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.00 742.10 Td (66.5 ) Tj ET Q q 0 0 0 rg BT 168.95 742.10 Td (percent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.38 742.10 Td ( ) Tj ET Q q 0 0 0 rg BT 200.83 742.10 Td (of ) Tj ET Q q 0 0 0 rg BT 211.62 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 226.29 742.10 Td (portion ) Tj ET Q q 0 0 0 rg BT 257.64 742.10 Td (of ) Tj ET Q q 0 0 0 rg BT 268.42 742.10 Td (our ) Tj ET Q q 0 0 0 rg BT 284.21 742.10 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 321.66 742.10 Td (that ) Tj ET Q q 0 0 0 rg BT 339.11 742.10 Td (was ) Tj ET Q q 0 0 0 rg BT 357.12 742.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 373.45 742.10 Td (valued ) Tj ET Q q 0 0 0 rg BT 402.56 742.10 Td (was ) Tj ET Q q 0 0 0 rg BT 420.57 742.10 Td (comprised ) Tj ET Q q 0 0 0 rg BT 464.68 742.10 Td (of ) Tj ET Q q 0 0 0 rg BT 475.47 742.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 515.69 742.10 Td (of ) Tj ET Q q 0 0 0 rg BT 526.47 742.10 Td (privately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (held ) Tj ET Q q 0 0 0 rg BT 68.79 730.10 Td (companies ) Tj ET Q q 0 0 0 rg BT 113.12 730.10 Td (and ) Tj ET Q q 0 0 0 rg BT 129.13 730.10 Td (rights ) Tj ET Q q 0 0 0 rg BT 153.48 730.10 Td (to ) Tj ET Q q 0 0 0 rg BT 162.82 730.10 Td (potential ) Tj ET Q q 0 0 0 rg BT 199.38 730.10 Td (future ) Tj ET Q q 0 0 0 rg BT 224.83 730.10 Td (milestone ) Tj ET Q q 0 0 0 rg BT 265.28 730.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 305.18 730.10 Td (as ) Tj ET Q q 0 0 0 rg BT 315.08 730.10 Td (well ) Tj ET Q q 0 0 0 rg BT 333.86 730.10 Td (as ) Tj ET Q q 0 0 0 rg BT 343.76 730.10 Td (our ) Tj ET Q q 0 0 0 rg BT 358.66 730.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 397.44 730.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 420.11 730.10 Td (units ) Tj ET Q q 0 0 0 rg BT 441.13 730.10 Td (and ) Tj ET Q q 0 0 0 rg BT 457.14 730.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 479.82 730.10 Td (options ) Tj ET Q q 0 0 0 rg BT 510.84 730.10 Td (of ) Tj ET Q q 0 0 0 rg BT 520.62 730.10 Td (TheStreet, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 71.03 718.10 Td (and ) Tj ET Q q 0 0 0 rg BT 88.74 718.10 Td (our ) Tj ET Q q 0 0 0 rg BT 105.33 718.10 Td (warrants ) Tj ET Q q 0 0 0 rg BT 143.03 718.10 Td (of ) Tj ET Q q 0 0 0 rg BT 154.62 718.10 Td (OpGen, ) Tj ET Q q 0 0 0 rg BT 189.27 718.10 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 210.31 718.10 Td (which ) Tj ET Q q 0 0 0 rg BT 238.01 718.10 Td (are ) Tj ET Q q 0 0 0 rg BT 253.48 718.10 Td (publicly ) Tj ET Q q 0 0 0 rg BT 289.52 718.10 Td (traded ) Tj ET Q q 0 0 0 rg BT 317.77 718.10 Td (companies. ) Tj ET Q q 0 0 0 rg BT 365.58 718.10 Td (Approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.39 718.10 Td (0.3 ) Tj ET Q q 0 0 0 rg BT 445.15 718.10 Td (percent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.58 718.10 Td ( ) Tj ET Q q 0 0 0 rg BT 477.84 718.10 Td (of ) Tj ET Q q 0 0 0 rg BT 489.44 718.10 Td (the ) Tj ET Q q 0 0 0 rg BT 504.92 718.10 Td (portion ) Tj ET Q q 0 0 0 rg BT 537.07 718.10 Td (of ) Tj ET Q q 0 0 0 rg BT 548.67 718.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (equity-focused ) Tj ET Q q 0 0 0 rg BT 111.86 706.10 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 149.29 706.10 Td (that ) Tj ET Q q 0 0 0 rg BT 166.72 706.10 Td (was ) Tj ET Q q 0 0 0 rg BT 184.71 706.10 Td (valued ) Tj ET Q q 0 0 0 rg BT 213.80 706.10 Td (according ) Tj ET Q q 0 0 0 rg BT 255.66 706.10 Td (to ) Tj ET Q q 0 0 0 rg BT 265.88 706.10 Td (the ) Tj ET Q q 0 0 0 rg BT 280.53 706.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 307.96 706.10 Td (method ) Tj ET Q q 0 0 0 rg BT 340.40 706.10 Td (was ) Tj ET Q q 0 0 0 rg BT 358.38 706.10 Td (comprised ) Tj ET Q q 0 0 0 rg BT 402.48 706.10 Td (of ) Tj ET Q q 0 0 0 rg BT 413.24 706.10 Td (one ) Tj ET Q q 0 0 0 rg BT 430.12 706.10 Td (privately ) Tj ET Q q 0 0 0 rg BT 468.10 706.10 Td (held ) Tj ET Q q 0 0 0 rg BT 487.75 706.10 Td (company) Tj ET Q q 0 0 0 rg BT 523.75 706.10 Td (. ) Tj ET Q q 0 0 0 rg BT 528.69 706.10 Td (Because ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (there ) Tj ET Q q 0 0 0 rg BT 72.98 694.10 Td (is ) Tj ET Q q 0 0 0 rg BT 82.65 694.10 Td (typically ) Tj ET Q q 0 0 0 rg BT 120.64 694.10 Td (no ) Tj ET Q q 0 0 0 rg BT 133.63 694.10 Td (public ) Tj ET Q q 0 0 0 rg BT 161.63 694.10 Td (or ) Tj ET Q q 0 0 0 rg BT 172.95 694.10 Td (readily ) Tj ET Q q 0 0 0 rg BT 203.71 694.10 Td (ascertainable ) Tj ET Q q 0 0 0 rg BT 258.90 694.10 Td (market ) Tj ET Q q 0 0 0 rg BT 289.66 694.10 Td (for ) Tj ET Q q 0 0 0 rg BT 304.32 694.10 Td (our ) Tj ET Q q 0 0 0 rg BT 320.64 694.10 Td (interests ) Tj ET Q q 0 0 0 rg BT 356.97 694.10 Td (in ) Tj ET Q q 0 0 0 rg BT 367.74 694.10 Td (the ) Tj ET Q q 0 0 0 rg BT 382.96 694.10 Td (small ) Tj ET Q q 0 0 0 rg BT 407.62 694.10 Td (privately ) Tj ET Q q 0 0 0 rg BT 446.16 694.10 Td (held ) Tj ET Q q 0 0 0 rg BT 466.37 694.10 Td (companies ) Tj ET Q q 0 0 0 rg BT 512.13 694.10 Td (in ) Tj ET Q q 0 0 0 rg BT 522.91 694.10 Td (which ) Tj ET Q q 0 0 0 rg BT 550.34 694.10 Td (we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (invest, ) Tj ET Q q 0 0 0 rg BT 78.24 682.10 Td (the ) Tj ET Q q 0 0 0 rg BT 92.31 682.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 131.37 682.10 Td (of ) Tj ET Q q 0 0 0 rg BT 141.56 682.10 Td (the ) Tj ET Q q 0 0 0 rg BT 155.63 682.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 195.24 682.10 Td (in ) Tj ET Q q 0 0 0 rg BT 204.88 682.10 Td (that ) Tj ET Q q 0 0 0 rg BT 221.72 682.10 Td (portion ) Tj ET Q q 0 0 0 rg BT 252.46 682.10 Td (of ) Tj ET Q q 0 0 0 rg BT 262.65 682.10 Td (our ) Tj ET Q q 0 0 0 rg BT 277.83 682.10 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 314.68 682.10 Td (is ) Tj ET Q q 0 0 0 rg BT 323.20 682.10 Td (determined ) Tj ET Q q 0 0 0 rg BT 370.03 682.10 Td (in ) Tj ET Q q 0 0 0 rg BT 379.67 682.10 Td (good ) Tj ET Q q 0 0 0 rg BT 401.52 682.10 Td (faith ) Tj ET Q q 0 0 0 rg BT 421.70 682.10 Td (by ) Tj ET Q q 0 0 0 rg BT 433.55 682.10 Td (our ) Tj ET Q q 0 0 0 rg BT 448.60 682.10 Td (V) Tj ET Q q 0 0 0 rg BT 454.71 682.10 Td (aluation ) Tj ET Q q 0 0 0 rg BT 488.78 682.10 Td (Committee, ) Tj ET Q q 0 0 0 rg BT 537.57 682.10 Td (which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.10 Td (is ) Tj ET Q q 0 0 0 rg BT 59.83 670.10 Td (comprised ) Tj ET Q q 0 0 0 rg BT 104.65 670.10 Td (of ) Tj ET Q q 0 0 0 rg BT 116.14 670.10 Td (all ) Tj ET Q q 0 0 0 rg BT 129.30 670.10 Td (of ) Tj ET Q q 0 0 0 rg BT 140.80 670.10 Td (the ) Tj ET Q q 0 0 0 rg BT 156.18 670.10 Td (independent ) Tj ET Q q 0 0 0 rg BT 208.21 670.10 Td (members ) Tj ET Q q 0 0 0 rg BT 248.03 670.10 Td (of ) Tj ET Q q 0 0 0 rg BT 259.52 670.10 Td (our ) Tj ET Q q 0 0 0 rg BT 276.02 670.10 Td (Board ) Tj ET Q q 0 0 0 rg BT 303.62 670.10 Td (of ) Tj ET Q q 0 0 0 rg BT 315.11 670.10 Td (Directors. ) Tj ET Q q 0 0 0 rg BT 357.75 670.10 Td (The ) Tj ET Q q 0 0 0 rg BT 376.46 670.10 Td (values ) Tj ET Q q 0 0 0 rg BT 405.17 670.10 Td (are ) Tj ET Q q 0 0 0 rg BT 420.54 670.10 Td (determined ) Tj ET Q q 0 0 0 rg BT 468.69 670.10 Td (in ) Tj ET Q q 0 0 0 rg BT 479.63 670.10 Td (accordance ) Tj ET Q q 0 0 0 rg BT 527.75 670.10 Td (with ) Tj ET Q q 0 0 0 rg BT 548.69 670.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (V) Tj ET Q q 0 0 0 rg BT 56.11 658.10 Td (aluation ) Tj ET Q q 0 0 0 rg BT 90.74 658.10 Td (Procedures ) Tj ET Q q 0 0 0 rg BT 137.59 658.10 Td (and ) Tj ET Q q 0 0 0 rg BT 154.45 658.10 Td (are ) Tj ET Q q 0 0 0 rg BT 169.07 658.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 199.82 658.10 Td (to ) Tj ET Q q 0 0 0 rg BT 210.01 658.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 254.64 658.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 294.27 658.10 Td (and ) Tj ET Q q 0 0 0 rg BT 311.13 658.10 Td (judgments. ) Tj ET Q q 0 0 0 rg BT 357.54 658.10 Td (The ) Tj ET Q q 0 0 0 rg BT 375.51 658.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 391.80 658.10 Td (value ) Tj ET Q q 0 0 0 rg BT 415.87 658.10 Td (of ) Tj ET Q q 0 0 0 rg BT 426.62 658.10 Td (the ) Tj ET Q q 0 0 0 rg BT 441.26 658.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 481.44 658.10 Td (in ) Tj ET Q q 0 0 0 rg BT 491.64 658.10 Td (our ) Tj ET Q q 0 0 0 rg BT 507.39 658.10 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 544.80 658.10 Td (may ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (dif) Tj ET Q q 0 0 0 rg BT 60.93 646.10 Td (fer ) Tj ET Q q 0 0 0 rg BT 73.78 646.10 Td (significantly ) Tj ET Q q 0 0 0 rg BT 125.53 646.10 Td (from ) Tj ET Q q 0 0 0 rg BT 146.73 646.10 Td (the ) Tj ET Q q 0 0 0 rg BT 160.70 646.10 Td (values ) Tj ET Q q 0 0 0 rg BT 188.01 646.10 Td (that ) Tj ET Q q 0 0 0 rg BT 204.76 646.10 Td (would ) Tj ET Q q 0 0 0 rg BT 231.52 646.10 Td (be ) Tj ET Q q 0 0 0 rg BT 242.71 646.10 Td (placed ) Tj ET Q q 0 0 0 rg BT 270.57 646.10 Td (on ) Tj ET Q q 0 0 0 rg BT 282.32 646.10 Td (these ) Tj ET Q q 0 0 0 rg BT 304.63 646.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 344.15 646.10 Td (if ) Tj ET Q q 0 0 0 rg BT 352.02 646.10 Td (a ) Tj ET Q q 0 0 0 rg BT 358.21 646.10 Td (ready ) Tj ET Q q 0 0 0 rg BT 382.18 646.10 Td (market ) Tj ET Q q 0 0 0 rg BT 411.70 646.10 Td (for ) Tj ET Q q 0 0 0 rg BT 425.12 646.10 Td (the ) Tj ET Q q 0 0 0 rg BT 439.09 646.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 478.61 646.10 Td (existed. ) Tj ET Q q 0 0 0 rg BT 510.81 646.10 Td (Any ) Tj ET Q q 0 0 0 rg BT 529.79 646.10 Td (changes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (in ) Tj ET Q q 0 0 0 rg BT 62.34 634.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 104.12 634.10 Td (are ) Tj ET Q q 0 0 0 rg BT 120.89 634.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 160.43 634.10 Td (in ) Tj ET Q q 0 0 0 rg BT 172.78 634.10 Td (the ) Tj ET Q q 0 0 0 rg BT 189.56 634.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 238.71 634.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 296.04 634.10 Td (Statement ) Tj ET Q q 0 0 0 rg BT 340.60 634.10 Td (of ) Tj ET Q q 0 0 0 rg BT 353.50 634.10 Td (Operations ) Tj ET Q q 0 0 0 rg BT 401.94 634.10 Td (as ) Tj ET Q q 0 0 0 rg BT 414.83 634.10 Td ("Change ) Tj ET Q q 0 0 0 rg BT 454.03 634.10 Td (in ) Tj ET Q q 0 0 0 rg BT 466.37 634.10 Td (unrealized ) Tj ET Q q 0 0 0 rg BT 512.58 634.10 Td (appreciation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (\(depreciation\) ) Tj ET Q q 0 0 0 rg BT 108.83 622.10 Td (on ) Tj ET Q q 0 0 0 rg BT 121.57 622.10 Td (investments." ) Tj ET Q q 0 0 0 rg BT 178.67 622.10 Td (Changes ) Tj ET Q q 0 0 0 rg BT 215.86 622.10 Td (in ) Tj ET Q q 0 0 0 rg BT 226.38 622.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 266.34 622.10 Td (of ) Tj ET Q q 0 0 0 rg BT 277.42 622.10 Td (any ) Tj ET Q q 0 0 0 rg BT 294.60 622.10 Td (of ) Tj ET Q q 0 0 0 rg BT 305.68 622.10 Td (our ) Tj ET Q q 0 0 0 rg BT 321.76 622.10 Td (investments ) Tj ET Q q 0 0 0 rg BT 372.28 622.10 Td (in ) Tj ET Q q 0 0 0 rg BT 382.80 622.10 Td (privately ) Tj ET Q q 0 0 0 rg BT 421.09 622.10 Td (held ) Tj ET Q q 0 0 0 rg BT 441.05 622.10 Td (companies ) Tj ET Q q 0 0 0 rg BT 486.56 622.10 Td (from ) Tj ET Q q 0 0 0 rg BT 508.75 622.10 Td (one ) Tj ET Q q 0 0 0 rg BT 525.94 622.10 Td (period ) Tj ET Q q 0 0 0 rg BT 554.23 622.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (another ) Tj ET Q q 0 0 0 rg BT 82.49 610.10 Td (may ) Tj ET Q q 0 0 0 rg BT 102.20 610.10 Td (be ) Tj ET Q q 0 0 0 rg BT 114.14 610.10 Td (significant.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td () Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (Diversification ) Tj ET Q q 0 0 0 rg BT 113.60 586.10 Td (Risk) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 562.10 Td (While ) Tj ET Q q 0 0 0 rg BT 111.93 562.10 Td (we ) Tj ET Q q 0 0 0 rg BT 125.09 562.10 Td (are ) Tj ET Q q 0 0 0 rg BT 138.79 562.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 168.61 562.10 Td (to ) Tj ET Q q 0 0 0 rg BT 177.89 562.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 206.59 562.10 Td (diversification ) Tj ET Q q 0 0 0 rg BT 265.84 562.10 Td (requirements ) Tj ET Q q 0 0 0 rg BT 319.54 562.10 Td (regarding ) Tj ET Q q 0 0 0 rg BT 359.35 562.10 Td (the ) Tj ET Q q 0 0 0 rg BT 373.07 562.10 Td (concentration ) Tj ET Q q 0 0 0 rg BT 428.98 562.10 Td (of ) Tj ET Q q 0 0 0 rg BT 438.81 562.10 Td (investments ) Tj ET Q q 0 0 0 rg BT 488.08 562.10 Td (in ) Tj ET Q q 0 0 0 rg BT 497.35 562.10 Td (any ) Tj ET Q q 0 0 0 rg BT 513.29 562.10 Td (one ) Tj ET Q q 0 0 0 rg BT 529.22 562.10 Td (industry ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (or ) Tj ET Q q 0 0 0 rg BT 60.52 550.10 Td (group ) Tj ET Q q 0 0 0 rg BT 86.03 550.10 Td (of ) Tj ET Q q 0 0 0 rg BT 96.55 550.10 Td (industries, ) Tj ET Q q 0 0 0 rg BT 140.12 550.10 Td (we ) Tj ET Q q 0 0 0 rg BT 153.96 550.10 Td (do ) Tj ET Q q 0 0 0 rg BT 166.15 550.10 Td (not ) Tj ET Q q 0 0 0 rg BT 181.11 550.10 Td (choose ) Tj ET Q q 0 0 0 rg BT 211.06 550.10 Td (investments ) Tj ET Q q 0 0 0 rg BT 261.02 550.10 Td (based ) Tj ET Q q 0 0 0 rg BT 285.98 550.10 Td (on ) Tj ET Q q 0 0 0 rg BT 298.16 550.10 Td (a ) Tj ET Q q 0 0 0 rg BT 304.79 550.10 Td (strategy ) Tj ET Q q 0 0 0 rg BT 338.63 550.10 Td (of ) Tj ET Q q 0 0 0 rg BT 349.14 550.10 Td (diversification. ) Tj ET Q q 0 0 0 rg BT 411.43 550.10 Td (W) Tj ET Q q 0 0 0 rg BT 420.06 550.10 Td (e ) Tj ET Q q 0 0 0 rg BT 426.69 550.10 Td (also ) Tj ET Q q 0 0 0 rg BT 444.98 550.10 Td (do ) Tj ET Q q 0 0 0 rg BT 457.17 550.10 Td (not ) Tj ET Q q 0 0 0 rg BT 472.13 550.10 Td (rebalance ) Tj ET Q q 0 0 0 rg BT 512.62 550.10 Td (the ) Tj ET Q q 0 0 0 rg BT 527.02 550.10 Td (portfolio ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (should ) Tj ET Q q 0 0 0 rg BT 79.16 538.10 Td (one ) Tj ET Q q 0 0 0 rg BT 96.09 538.10 Td (of ) Tj ET Q q 0 0 0 rg BT 106.92 538.10 Td (our ) Tj ET Q q 0 0 0 rg BT 122.74 538.10 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 160.23 538.10 Td (companies ) Tj ET Q q 0 0 0 rg BT 205.48 538.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 240.73 538.10 Td (in ) Tj ET Q q 0 0 0 rg BT 251.00 538.10 Td (value ) Tj ET Q q 0 0 0 rg BT 275.15 538.10 Td (substantially ) Tj ET Q q 0 0 0 rg BT 328.19 538.10 Td (relative ) Tj ET Q q 0 0 0 rg BT 360.67 538.10 Td (to ) Tj ET Q q 0 0 0 rg BT 370.94 538.10 Td (the ) Tj ET Q q 0 0 0 rg BT 385.65 538.10 Td (rest ) Tj ET Q q 0 0 0 rg BT 402.58 538.10 Td (of ) Tj ET Q q 0 0 0 rg BT 413.40 538.10 Td (the ) Tj ET Q q 0 0 0 rg BT 428.11 538.10 Td (portfolio. ) Tj ET Q q 0 0 0 rg BT 470.42 538.10 Td (Therefore, ) Tj ET Q q 0 0 0 rg BT 514.82 538.10 Td (the ) Tj ET Q q 0 0 0 rg BT 529.53 538.10 Td (value ) Tj ET Q q 0 0 0 rg BT 553.68 538.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (our ) Tj ET Q q 0 0 0 rg BT 66.34 526.10 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 104.34 526.10 Td (may ) Tj ET Q q 0 0 0 rg BT 124.56 526.10 Td (be ) Tj ET Q q 0 0 0 rg BT 137.01 526.10 Td (more ) Tj ET Q q 0 0 0 rg BT 160.56 526.10 Td (vulnerable ) Tj ET Q q 0 0 0 rg BT 205.77 526.10 Td (to ) Tj ET Q q 0 0 0 rg BT 216.56 526.10 Td (microeconomic ) Tj ET Q q 0 0 0 rg BT 281.76 526.10 Td (events ) Tj ET Q q 0 0 0 rg BT 310.31 526.10 Td (af) Tj ET Q q 0 0 0 rg BT 317.90 526.10 Td (fecting ) Tj ET Q q 0 0 0 rg BT 348.67 526.10 Td (a ) Tj ET Q q 0 0 0 rg BT 356.12 526.10 Td (single ) Tj ET Q q 0 0 0 rg BT 383.01 526.10 Td (sector) Tj ET Q q 0 0 0 rg BT 406.49 526.10 Td (, ) Tj ET Q q 0 0 0 rg BT 411.99 526.10 Td (industry ) Tj ET Q q 0 0 0 rg BT 447.78 526.10 Td (or ) Tj ET Q q 0 0 0 rg BT 459.12 526.10 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 497.12 526.10 Td (company ) Tj ET Q q 0 0 0 rg BT 536.78 526.10 Td (and ) Tj ET Q q 0 0 0 rg BT 554.23 526.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (general ) Tj ET Q q 0 0 0 rg BT 82.81 514.10 Td (macroeconomic ) Tj ET Q q 0 0 0 rg BT 150.06 514.10 Td (events ) Tj ET Q q 0 0 0 rg BT 179.00 514.10 Td (that ) Tj ET Q q 0 0 0 rg BT 197.39 514.10 Td (may ) Tj ET Q q 0 0 0 rg BT 218.00 514.10 Td (be ) Tj ET Q q 0 0 0 rg BT 230.83 514.10 Td (unrelated ) Tj ET Q q 0 0 0 rg BT 271.42 514.10 Td (to ) Tj ET Q q 0 0 0 rg BT 282.59 514.10 Td (our ) Tj ET Q q 0 0 0 rg BT 299.31 514.10 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 337.70 514.10 Td (companies. ) Tj ET Q q 0 0 0 rg BT 386.10 514.10 Td (These ) Tj ET Q q 0 0 0 rg BT 413.37 514.10 Td (factors ) Tj ET Q q 0 0 0 rg BT 443.97 514.10 Td (may ) Tj ET Q q 0 0 0 rg BT 464.58 514.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 496.30 514.10 Td (the ) Tj ET Q q 0 0 0 rg BT 511.90 514.10 Td (value ) Tj ET Q q 0 0 0 rg BT 536.95 514.10 Td (of ) Tj ET Q q 0 0 0 rg BT 548.67 514.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 88.43 502.10 Td (to ) Tj ET Q q 0 0 0 rg BT 99.64 502.10 Td (greater ) Tj ET Q q 0 0 0 rg BT 130.83 502.10 Td (volatility ) Tj ET Q q 0 0 0 rg BT 170.37 502.10 Td (than ) Tj ET Q q 0 0 0 rg BT 191.02 502.10 Td (a ) Tj ET Q q 0 0 0 rg BT 198.89 502.10 Td (company ) Tj ET Q q 0 0 0 rg BT 238.97 502.10 Td (that ) Tj ET Q q 0 0 0 rg BT 257.40 502.10 Td (follows ) Tj ET Q q 0 0 0 rg BT 290.83 502.10 Td (a ) Tj ET Q q 0 0 0 rg BT 298.71 502.10 Td (diversification ) Tj ET Q q 0 0 0 rg BT 359.90 502.10 Td (strategy) Tj ET Q q 0 0 0 rg BT 390.90 502.10 Td (. ) Tj ET Q q 0 0 0 rg BT 396.08 502.10 Td (As ) Tj ET Q q 0 0 0 rg BT 410.62 502.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.39 502.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 481.90 502.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.90 502.10 Td ( ) Tj ET Q q 0 0 0 rg BT 505.34 502.10 Td (our ) Tj ET Q q 0 0 0 rg BT 522.10 502.10 Td (lar) Tj ET Q q 0 0 0 rg BT 532.46 502.10 Td (gest ) Tj ET Q q 0 0 0 rg BT 552.01 502.10 Td (10 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (investments ) Tj ET Q q 0 0 0 rg BT 99.20 490.10 Td (by ) Tj ET Q q 0 0 0 rg BT 110.63 490.10 Td (value ) Tj ET Q q 0 0 0 rg BT 133.71 490.10 Td (accounted ) Tj ET Q q 0 0 0 rg BT 175.67 490.10 Td (for ) Tj ET Q q 0 0 0 rg BT 188.76 490.10 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.94 490.10 Td (77 ) Tj ET Q q 0 0 0 rg BT 259.37 490.10 Td (percent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.79 490.10 Td ( ) Tj ET Q q 0 0 0 rg BT 290.22 490.10 Td (of ) Tj ET Q q 0 0 0 rg BT 299.98 490.10 Td (the ) Tj ET Q q 0 0 0 rg BT 313.62 490.10 Td (value ) Tj ET Q q 0 0 0 rg BT 336.71 490.10 Td (of ) Tj ET Q q 0 0 0 rg BT 346.46 490.10 Td (our ) Tj ET Q q 0 0 0 rg BT 361.22 490.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 406.53 490.10 Td (portfolio. ) Tj ET Q q 0 0 0 rg BT 445.45 490.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 462.43 490.10 Td (lar) Tj ET Q q 0 0 0 rg BT 472.80 490.10 Td (gest ) Tj ET Q q 0 0 0 rg BT 490.33 490.10 Td (three ) Tj ET Q q 0 0 0 rg BT 511.75 490.10 Td (investments, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (by ) Tj ET Q q 0 0 0 rg BT 62.18 478.10 Td (value,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 86.34 478.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.52 478.10 Td (AgBiome, ) Tj ET Q q 0 0 0 rg BT 132.08 478.10 Td (LLC) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.97 478.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 155.49 478.10 Td (TheStreet, ) Tj ET Q q 0 0 0 rg BT 199.04 478.10 Td (Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.31 478.10 Td (, ) Tj ET Q q 0 0 0 rg BT 218.99 478.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.61 478.10 Td (D-W) Tj ET Q q 0 0 0 rg BT 254.80 478.10 Td (ave ) Tj ET Q q 0 0 0 rg BT 270.86 478.10 Td (Systems, ) Tj ET Q q 0 0 0 rg BT 308.88 478.10 Td (Inc.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 324.15 478.10 Td (,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.65 478.10 Td ( ) Tj ET Q q 0 0 0 rg BT 328.83 478.10 Td (accounted ) Tj ET Q q 0 0 0 rg BT 371.54 478.10 Td (for ) Tj ET Q q 0 0 0 rg BT 385.38 478.10 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.32 478.10 Td (18 ) Tj ET Q q 0 0 0 rg BT 457.50 478.10 Td (percent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.92 478.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.60 478.10 Td (13 ) Tj ET Q q 0 0 0 rg BT 503.78 478.10 Td (percent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.21 478.10 Td ( ) Tj ET Q q 0 0 0 rg BT 535.39 478.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.01 478.10 Td (13 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (percent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.42 466.10 Td (, ) Tj ET Q q 0 0 0 rg BT 83.95 466.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 131.61 466.10 Td (, ) Tj ET Q q 0 0 0 rg BT 136.14 466.10 Td (of ) Tj ET Q q 0 0 0 rg BT 146.49 466.10 Td (our ) Tj ET Q q 0 0 0 rg BT 161.85 466.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 207.75 466.10 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 244.77 466.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.02 466.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 312.13 466.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.13 466.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.20 466.10 Td (AgBiome, ) Tj ET Q q 0 0 0 rg BT 379.62 466.10 Td (LLC) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.50 466.10 Td (, ) Tj ET Q q 0 0 0 rg BT 403.03 466.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.49 466.10 Td (D-W) Tj ET Q q 0 0 0 rg BT 438.68 466.10 Td (ave ) Tj ET Q q 0 0 0 rg BT 454.58 466.10 Td (Systems, ) Tj ET Q q 0 0 0 rg BT 492.45 466.10 Td (Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.72 466.10 Td (, ) Tj ET Q q 0 0 0 rg BT 512.24 466.10 Td (are ) Tj ET Q q 0 0 0 rg BT 526.48 466.10 Td (privately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (held ) Tj ET Q q 0 0 0 rg BT 69.72 454.10 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 107.21 454.10 Td (companies, ) Tj ET Q q 0 0 0 rg BT 154.98 454.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.73 454.10 Td (TheStreet, ) Tj ET Q q 0 0 0 rg BT 215.61 454.10 Td (Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 230.87 454.10 Td ( ) Tj ET Q q 0 0 0 rg BT 233.37 454.10 Td (is ) Tj ET Q q 0 0 0 rg BT 242.54 454.10 Td (a ) Tj ET Q q 0 0 0 rg BT 249.48 454.10 Td (publicly ) Tj ET Q q 0 0 0 rg BT 284.76 454.10 Td (traded ) Tj ET Q q 0 0 0 rg BT 312.24 454.10 Td (company) Tj ET Q q 0 0 0 rg BT 348.25 454.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 442.10 Td () Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (Interest ) Tj ET Q q 0 0 0 rg BT 84.17 430.10 Td (Rate ) Tj ET Q q 0 0 0 rg BT 105.56 430.10 Td (Risk) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 406.10 Td (Interest ) Tj ET Q q 0 0 0 rg BT 118.83 406.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 136.65 406.10 Td (sensitivity ) Tj ET Q q 0 0 0 rg BT 180.61 406.10 Td (refers ) Tj ET Q q 0 0 0 rg BT 206.21 406.10 Td (to ) Tj ET Q q 0 0 0 rg BT 216.83 406.10 Td (the ) Tj ET Q q 0 0 0 rg BT 231.89 406.10 Td (change ) Tj ET Q q 0 0 0 rg BT 263.05 406.10 Td (in ) Tj ET Q q 0 0 0 rg BT 273.67 406.10 Td (earnings ) Tj ET Q q 0 0 0 rg BT 310.38 406.10 Td (that ) Tj ET Q q 0 0 0 rg BT 328.22 406.10 Td (may ) Tj ET Q q 0 0 0 rg BT 348.28 406.10 Td (result ) Tj ET Q q 0 0 0 rg BT 373.34 406.10 Td (from ) Tj ET Q q 0 0 0 rg BT 395.62 406.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 430.67 406.10 Td (in ) Tj ET Q q 0 0 0 rg BT 441.29 406.10 Td (the ) Tj ET Q q 0 0 0 rg BT 456.35 406.10 Td (level ) Tj ET Q q 0 0 0 rg BT 478.62 406.10 Td (of ) Tj ET Q q 0 0 0 rg BT 489.79 406.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 522.07 406.10 Td (rates. ) Tj ET Q q 0 0 0 rg BT 546.29 406.10 Td ( ) Tj ET Q q 0 0 0 rg BT 548.92 406.10 Td (W) Tj ET Q q 0 0 0 rg BT 557.56 406.10 Td (e ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (may ) Tj ET Q q 0 0 0 rg BT 69.86 394.10 Td (invest ) Tj ET Q q 0 0 0 rg BT 96.39 394.10 Td (in ) Tj ET Q q 0 0 0 rg BT 106.81 394.10 Td (both ) Tj ET Q q 0 0 0 rg BT 127.24 394.10 Td (short- ) Tj ET Q q 0 0 0 rg BT 153.21 394.10 Td (and ) Tj ET Q q 0 0 0 rg BT 170.29 394.10 Td (long-term ) Tj ET Q q 0 0 0 rg BT 212.37 394.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 232.80 394.10 Td (government ) Tj ET Q q 0 0 0 rg BT 283.21 394.10 Td (and ) Tj ET Q q 0 0 0 rg BT 300.29 394.10 Td (agency ) Tj ET Q q 0 0 0 rg BT 331.25 394.10 Td (securities. ) Tj ET Q q 0 0 0 rg BT 373.96 394.10 Td (T) Tj ET Q q 0 0 0 rg BT 379.37 394.10 Td (o ) Tj ET Q q 0 0 0 rg BT 387.02 394.10 Td (the ) Tj ET Q q 0 0 0 rg BT 401.88 394.10 Td (extent ) Tj ET Q q 0 0 0 rg BT 428.96 394.10 Td (that ) Tj ET Q q 0 0 0 rg BT 446.60 394.10 Td (we ) Tj ET Q q 0 0 0 rg BT 460.90 394.10 Td (invest ) Tj ET Q q 0 0 0 rg BT 487.43 394.10 Td (in ) Tj ET Q q 0 0 0 rg BT 497.85 394.10 Td (short- ) Tj ET Q q 0 0 0 rg BT 523.83 394.10 Td (and ) Tj ET Q q 0 0 0 rg BT 540.91 394.10 Td (long-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (term ) Tj ET Q q 0 0 0 rg BT 70.45 382.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 90.35 382.10 Td (government ) Tj ET Q q 0 0 0 rg BT 140.24 382.10 Td (and ) Tj ET Q q 0 0 0 rg BT 156.80 382.10 Td (agency ) Tj ET Q q 0 0 0 rg BT 187.23 382.10 Td (securities, ) Tj ET Q q 0 0 0 rg BT 229.62 382.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 263.95 382.10 Td (in ) Tj ET Q q 0 0 0 rg BT 273.85 382.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 305.40 382.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 326.40 382.10 Td (result ) Tj ET Q q 0 0 0 rg BT 350.74 382.10 Td (in ) Tj ET Q q 0 0 0 rg BT 360.64 382.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 394.97 382.10 Td (in ) Tj ET Q q 0 0 0 rg BT 404.87 382.10 Td (the ) Tj ET Q q 0 0 0 rg BT 419.21 382.10 Td (value ) Tj ET Q q 0 0 0 rg BT 442.98 382.10 Td (of ) Tj ET Q q 0 0 0 rg BT 453.44 382.10 Td (these ) Tj ET Q q 0 0 0 rg BT 476.10 382.10 Td (obligations ) Tj ET Q q 0 0 0 rg BT 522.67 382.10 Td (that ) Tj ET Q q 0 0 0 rg BT 539.79 382.10 Td (result ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.10 Td (in ) Tj ET Q q 0 0 0 rg BT 60.11 370.10 Td (an ) Tj ET Q q 0 0 0 rg BT 71.87 370.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 106.96 370.10 Td (or ) Tj ET Q q 0 0 0 rg BT 117.61 370.10 Td (decrease ) Tj ET Q q 0 0 0 rg BT 154.36 370.10 Td (of ) Tj ET Q q 0 0 0 rg BT 165.01 370.10 Td (our ) Tj ET Q q 0 0 0 rg BT 180.67 370.10 Td (net ) Tj ET Q q 0 0 0 rg BT 195.22 370.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 216.98 370.10 Td (value. ) Tj ET Q q 0 0 0 rg BT 243.30 370.10 Td (The ) Tj ET Q q 0 0 0 rg BT 261.17 370.10 Td (level ) Tj ET Q q 0 0 0 rg BT 282.94 370.10 Td (of ) Tj ET Q q 0 0 0 rg BT 293.59 370.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 325.35 370.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 342.67 370.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 360.00 370.10 Td (exposure ) Tj ET Q q 0 0 0 rg BT 398.42 370.10 Td (at ) Tj ET Q q 0 0 0 rg BT 407.97 370.10 Td (any ) Tj ET Q q 0 0 0 rg BT 424.73 370.10 Td (given ) Tj ET Q q 0 0 0 rg BT 449.28 370.10 Td (point ) Tj ET Q q 0 0 0 rg BT 472.16 370.10 Td (in ) Tj ET Q q 0 0 0 rg BT 482.27 370.10 Td (time ) Tj ET Q q 0 0 0 rg BT 502.37 370.10 Td (depends ) Tj ET Q q 0 0 0 rg BT 537.47 370.10 Td (on ) Tj ET Q q 0 0 0 rg BT 549.80 370.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (market ) Tj ET Q q 0 0 0 rg BT 80.90 358.10 Td (environment, ) Tj ET Q q 0 0 0 rg BT 137.07 358.10 Td (the ) Tj ET Q q 0 0 0 rg BT 152.42 358.10 Td (expectations ) Tj ET Q q 0 0 0 rg BT 205.54 358.10 Td (of ) Tj ET Q q 0 0 0 rg BT 217.00 358.10 Td (future ) Tj ET Q q 0 0 0 rg BT 244.01 358.10 Td (price ) Tj ET Q q 0 0 0 rg BT 267.13 358.10 Td (and ) Tj ET Q q 0 0 0 rg BT 284.70 358.10 Td (market ) Tj ET Q q 0 0 0 rg BT 315.60 358.10 Td (movements, ) Tj ET Q q 0 0 0 rg BT 367.34 358.10 Td (and ) Tj ET Q q 0 0 0 rg BT 384.91 358.10 Td (the ) Tj ET Q q 0 0 0 rg BT 400.26 358.10 Td (quantity ) Tj ET Q q 0 0 0 rg BT 436.17 358.10 Td (and ) Tj ET Q q 0 0 0 rg BT 453.74 358.10 Td (duration ) Tj ET Q q 0 0 0 rg BT 490.20 358.10 Td (of ) Tj ET Q q 0 0 0 rg BT 501.66 358.10 Td (long-term ) Tj ET Q q 0 0 0 rg BT 544.23 358.10 Td (U.S. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td (government ) Tj ET Q q 0 0 0 rg BT 100.26 346.10 Td (and ) Tj ET Q q 0 0 0 rg BT 117.20 346.10 Td (agency ) Tj ET Q q 0 0 0 rg BT 148.02 346.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 188.28 346.10 Td (held ) Tj ET Q q 0 0 0 rg BT 208.00 346.10 Td (by ) Tj ET Q q 0 0 0 rg BT 220.50 346.10 Td (the ) Tj ET Q q 0 0 0 rg BT 235.21 346.10 Td (Company) Tj ET Q q 0 0 0 rg BT 273.45 346.10 Td (, ) Tj ET Q q 0 0 0 rg BT 278.45 346.10 Td (and ) Tj ET Q q 0 0 0 rg BT 295.39 346.10 Td (it ) Tj ET Q q 0 0 0 rg BT 303.45 346.10 Td (will ) Tj ET Q q 0 0 0 rg BT 321.50 346.10 Td (vary ) Tj ET Q q 0 0 0 rg BT 341.77 346.10 Td (from ) Tj ET Q q 0 0 0 rg BT 363.71 346.10 Td (period ) Tj ET Q q 0 0 0 rg BT 391.76 346.10 Td (to ) Tj ET Q q 0 0 0 rg BT 402.04 346.10 Td (period.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 334.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 322.10 Td (In ) Tj ET Q q 0 0 0 rg BT 96.82 322.10 Td (addition, ) Tj ET Q q 0 0 0 rg BT 134.58 322.10 Td (market ) Tj ET Q q 0 0 0 rg BT 164.83 322.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 196.75 322.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 218.11 322.10 Td (for ) Tj ET Q q 0 0 0 rg BT 232.26 322.10 Td (high-yield ) Tj ET Q q 0 0 0 rg BT 275.85 322.10 Td (corporate ) Tj ET Q q 0 0 0 rg BT 316.09 322.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 335.79 322.10 Td (may ) Tj ET Q q 0 0 0 rg BT 355.50 322.10 Td (be ) Tj ET Q q 0 0 0 rg BT 367.42 322.10 Td (an ) Tj ET Q q 0 0 0 rg BT 379.35 322.10 Td (input ) Tj ET Q q 0 0 0 rg BT 402.39 322.10 Td (in ) Tj ET Q q 0 0 0 rg BT 412.66 322.10 Td (determining ) Tj ET Q q 0 0 0 rg BT 463.46 322.10 Td (value ) Tj ET Q q 0 0 0 rg BT 487.61 322.10 Td (of ) Tj ET Q q 0 0 0 rg BT 498.42 322.10 Td (our ) Tj ET Q q 0 0 0 rg BT 514.24 322.10 Td (investments ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (in ) Tj ET Q q 0 0 0 rg BT 59.94 310.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 79.31 310.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 119.23 310.10 Td (of ) Tj ET Q q 0 0 0 rg BT 129.72 310.10 Td (privately ) Tj ET Q q 0 0 0 rg BT 167.42 310.10 Td (held ) Tj ET Q q 0 0 0 rg BT 186.79 310.10 Td (and ) Tj ET Q q 0 0 0 rg BT 203.39 310.10 Td (publicly ) Tj ET Q q 0 0 0 rg BT 238.32 310.10 Td (traded ) Tj ET Q q 0 0 0 rg BT 265.46 310.10 Td (companies. ) Tj ET Q q 0 0 0 rg BT 312.88 310.10 Td (Significant ) Tj ET Q q 0 0 0 rg BT 358.92 310.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 393.28 310.10 Td (in ) Tj ET Q q 0 0 0 rg BT 403.22 310.10 Td (these ) Tj ET Q q 0 0 0 rg BT 425.92 310.10 Td (market ) Tj ET Q q 0 0 0 rg BT 455.84 310.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 476.88 310.10 Td (could ) Tj ET Q q 0 0 0 rg BT 501.25 310.10 Td (af) Tj ET Q q 0 0 0 rg BT 508.84 310.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 525.98 310.10 Td (the ) Tj ET Q q 0 0 0 rg BT 540.36 310.10 Td (value ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.84 298.10 Td (our ) Tj ET Q q 0 0 0 rg BT 76.67 298.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 96.40 298.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 136.67 298.10 Td (as ) Tj ET Q q 0 0 0 rg BT 147.50 298.10 Td (of ) Tj ET Q q 0 0 0 rg BT 158.34 298.10 Td (the ) Tj ET Q q 0 0 0 rg BT 173.06 298.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 212.78 298.10 Td (date ) Tj ET Q q 0 0 0 rg BT 231.94 298.10 Td (of ) Tj ET Q q 0 0 0 rg BT 242.78 298.10 Td (measurement ) Tj ET Q q 0 0 0 rg BT 298.60 298.10 Td (of ) Tj ET Q q 0 0 0 rg BT 309.43 298.10 Td (value. ) Tj ET Q q 0 0 0 rg BT 336.09 298.10 Td ( ) Tj ET Q q 0 0 0 rg BT 338.42 298.10 Td (While ) Tj ET Q q 0 0 0 rg BT 365.36 298.10 Td (we ) Tj ET Q q 0 0 0 rg BT 379.52 298.10 Td (do ) Tj ET Q q 0 0 0 rg BT 392.03 298.10 Td (not ) Tj ET Q q 0 0 0 rg BT 407.32 298.10 Td (currently ) Tj ET Q q 0 0 0 rg BT 445.92 298.10 Td (have ) Tj ET Q q 0 0 0 rg BT 467.30 298.10 Td (any ) Tj ET Q q 0 0 0 rg BT 484.24 298.10 Td (investments ) Tj ET Q q 0 0 0 rg BT 534.52 298.10 Td (in ) Tj ET Q q 0 0 0 rg BT 544.81 298.10 Td (debt ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 89.65 286.10 Td (with ) Tj ET Q q 0 0 0 rg BT 109.31 286.10 Td (floating ) Tj ET Q q 0 0 0 rg BT 142.29 286.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 173.61 286.10 Td (rates, ) Tj ET Q q 0 0 0 rg BT 196.87 286.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 242.63 286.10 Td (income ) Tj ET Q q 0 0 0 rg BT 273.95 286.10 Td (in ) Tj ET Q q 0 0 0 rg BT 283.61 286.10 Td (such ) Tj ET Q q 0 0 0 rg BT 303.82 286.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 343.47 286.10 Td (should ) Tj ET Q q 0 0 0 rg BT 372.02 286.10 Td (we ) Tj ET Q q 0 0 0 rg BT 385.56 286.10 Td (acquire ) Tj ET Q q 0 0 0 rg BT 416.87 286.10 Td (them ) Tj ET Q q 0 0 0 rg BT 438.75 286.10 Td (in ) Tj ET Q q 0 0 0 rg BT 448.41 286.10 Td (the ) Tj ET Q q 0 0 0 rg BT 462.50 286.10 Td (future ) Tj ET Q q 0 0 0 rg BT 488.26 286.10 Td (could ) Tj ET Q q 0 0 0 rg BT 512.36 286.10 Td (be ) Tj ET Q q 0 0 0 rg BT 523.68 286.10 Td (adversely ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (af) Tj ET Q q 0 0 0 rg BT 57.59 274.10 Td (fected ) Tj ET Q q 0 0 0 rg BT 84.51 274.10 Td (by ) Tj ET Q q 0 0 0 rg BT 97.01 274.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 131.72 274.10 Td (in ) Tj ET Q q 0 0 0 rg BT 142.00 274.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 173.93 274.10 Td (rates.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 86.00 262.10 Td () Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (Foreign ) Tj ET Q q 0 0 0 rg BT 85.84 250.10 Td (Currency ) Tj ET Q q 0 0 0 rg BT 127.23 250.10 Td (Risk) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 226.10 Td (Most ) Tj ET Q q 0 0 0 rg BT 108.99 226.10 Td (of ) Tj ET Q q 0 0 0 rg BT 119.75 226.10 Td (our ) Tj ET Q q 0 0 0 rg BT 135.52 226.10 Td (investments ) Tj ET Q q 0 0 0 rg BT 185.72 226.10 Td (are ) Tj ET Q q 0 0 0 rg BT 200.36 226.10 Td (denominated ) Tj ET Q q 0 0 0 rg BT 254.44 226.10 Td (in ) Tj ET Q q 0 0 0 rg BT 264.65 226.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 284.87 226.10 Td (dollars, ) Tj ET Q q 0 0 0 rg BT 317.02 226.10 Td (based ) Tj ET Q q 0 0 0 rg BT 342.22 226.10 Td (on ) Tj ET Q q 0 0 0 rg BT 354.65 226.10 Td (country ) Tj ET Q q 0 0 0 rg BT 387.63 226.10 Td (of ) Tj ET Q q 0 0 0 rg BT 398.39 226.10 Td (issuer) Tj ET Q q 0 0 0 rg BT 421.17 226.10 Td (. ) Tj ET Q q 0 0 0 rg BT 425.92 226.10 Td (W) Tj ET Q q 0 0 0 rg BT 434.56 226.10 Td (e ) Tj ET Q q 0 0 0 rg BT 441.43 226.10 Td (currently ) Tj ET Q q 0 0 0 rg BT 479.96 226.10 Td (have ) Tj ET Q q 0 0 0 rg BT 501.26 226.10 Td (one ) Tj ET Q q 0 0 0 rg BT 518.13 226.10 Td (investment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (denominated ) Tj ET Q q 0 0 0 rg BT 103.18 214.10 Td (in ) Tj ET Q q 0 0 0 rg BT 112.48 214.10 Td (Canadian ) Tj ET Q q 0 0 0 rg BT 151.77 214.10 Td (dollars. ) Tj ET Q q 0 0 0 rg BT 183.01 214.10 Td ( ) Tj ET Q q 0 0 0 rg BT 184.42 214.10 Td (W) Tj ET Q q 0 0 0 rg BT 193.06 214.10 Td (e ) Tj ET Q q 0 0 0 rg BT 199.02 214.10 Td (are ) Tj ET Q q 0 0 0 rg BT 212.76 214.10 Td (exposed ) Tj ET Q q 0 0 0 rg BT 247.05 214.10 Td (to ) Tj ET Q q 0 0 0 rg BT 256.35 214.10 Td (foreign ) Tj ET Q q 0 0 0 rg BT 286.75 214.10 Td (currency ) Tj ET Q q 0 0 0 rg BT 323.26 214.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 339.78 214.10 Td (related ) Tj ET Q q 0 0 0 rg BT 368.51 214.10 Td (to ) Tj ET Q q 0 0 0 rg BT 377.81 214.10 Td (potential ) Tj ET Q q 0 0 0 rg BT 414.33 214.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 448.06 214.10 Td (in ) Tj ET Q q 0 0 0 rg BT 457.36 214.10 Td (foreign ) Tj ET Q q 0 0 0 rg BT 487.76 214.10 Td (currency ) Tj ET Q q 0 0 0 rg BT 524.26 214.10 Td (exchange ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 71.34 202.10 Td (pertaining ) Tj ET Q q 0 0 0 rg BT 114.35 202.10 Td (to ) Tj ET Q q 0 0 0 rg BT 124.59 202.10 Td (this ) Tj ET Q q 0 0 0 rg BT 141.50 202.10 Td (investment. ) Tj ET Q q 0 0 0 rg BT 190.17 202.10 Td (The ) Tj ET Q q 0 0 0 rg BT 208.18 202.10 Td (potential ) Tj ET Q q 0 0 0 rg BT 245.63 202.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 263.65 202.10 Td (in ) Tj ET Q q 0 0 0 rg BT 273.90 202.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 290.24 202.10 Td (value ) Tj ET Q q 0 0 0 rg BT 314.36 202.10 Td (on ) Tj ET Q q 0 0 0 rg BT 326.82 202.10 Td (this ) Tj ET Q q 0 0 0 rg BT 343.73 202.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 390.08 202.10 Td (resulting ) Tj ET Q q 0 0 0 rg BT 427.53 202.10 Td (from ) Tj ET Q q 0 0 0 rg BT 449.44 202.10 Td (a ) Tj ET Q q 0 0 0 rg BT 456.34 202.10 Td (10 ) Tj ET Q q 0 0 0 rg BT 468.80 202.10 Td (percent ) Tj ET Q q 0 0 0 rg BT 500.69 202.10 Td (adverse ) Tj ET Q q 0 0 0 rg BT 533.69 202.10 Td (change ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (in ) Tj ET Q q 0 0 0 rg BT 59.10 190.10 Td (quoted ) Tj ET Q q 0 0 0 rg BT 87.64 190.10 Td (foreign ) Tj ET Q q 0 0 0 rg BT 117.83 190.10 Td (currency ) Tj ET Q q 0 0 0 rg BT 154.13 190.10 Td (exchange ) Tj ET Q q 0 0 0 rg BT 193.21 190.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 213.40 190.10 Td (is ) Tj ET Q q 0 0 0 rg BT 221.39 190.10 Td ($450,717 ) Tj ET Q q 0 0 0 rg BT 260.21 190.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.75 190.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 326.16 190.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.16 190.10 Td (. ) Tj ET Q q 0 0 0 rg BT 349.98 190.10 Td ( ) Tj ET Q q 0 0 0 rg BT 351.20 190.10 Td (W) Tj ET Q q 0 0 0 rg BT 359.84 190.10 Td (e ) Tj ET Q q 0 0 0 rg BT 365.60 190.10 Td (do ) Tj ET Q q 0 0 0 rg BT 376.92 190.10 Td (not ) Tj ET Q q 0 0 0 rg BT 391.02 190.10 Td (currently ) Tj ET Q q 0 0 0 rg BT 428.44 190.10 Td (hedge ) Tj ET Q q 0 0 0 rg BT 453.63 190.10 Td (our ) Tj ET Q q 0 0 0 rg BT 468.28 190.10 Td (exposure ) Tj ET Q q 0 0 0 rg BT 505.70 190.10 Td (to ) Tj ET Q q 0 0 0 rg BT 514.80 190.10 Td (fluctuations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (in ) Tj ET Q q 0 0 0 rg BT 60.28 178.10 Td (currencies.) Tj ET Q endstream endobj 61 0 obj <> endobj 62 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (30) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 50 740.68505859375 m 241.8896484375 740.68505859375 l s q 0 0 0 rg BT 50.00 742.25 Td (NOTE ) Tj ET Q q 0 0 0 rg BT 80.84 742.25 Td (4. ) Tj ET Q q 0 0 0 rg BT 90.84 742.25 Td (F) Tj ET Q q 0 0 0 rg BT 96.21 742.25 Td (AIR ) Tj ET Q q 0 0 0 rg BT 116.86 742.25 Td (V) Tj ET Q q 0 0 0 rg BT 122.79 742.25 Td (ALUE ) Tj ET Q q 0 0 0 rg BT 153.08 742.25 Td (OF) Tj ET Q q 0 0 0 rg BT 166.59 742.25 Td ( ) Tj ET Q q 0 0 0 rg BT 169.09 742.25 Td (INVESTMENTS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 718.25 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.50 718.25 Td (December31, ) Tj ET Q q 0 0 0 rg BT 157.08 718.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.08 718.25 Td (, ) Tj ET Q q 0 0 0 rg BT 182.08 718.25 Td (our ) Tj ET Q q 0 0 0 rg BT 197.91 718.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 235.39 718.25 Td (assets ) Tj ET Q q 0 0 0 rg BT 261.22 718.25 Td (valued ) Tj ET Q q 0 0 0 rg BT 290.38 718.25 Td (at ) Tj ET Q q 0 0 0 rg BT 300.10 718.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 316.47 718.25 Td (value ) Tj ET Q q 0 0 0 rg BT 340.63 718.25 Td (were ) Tj ET Q q 0 0 0 rg BT 362.56 718.25 Td (categorized ) Tj ET Q q 0 0 0 rg BT 411.14 718.25 Td (as ) Tj ET Q q 0 0 0 rg BT 421.97 718.25 Td (follows ) Tj ET Q q 0 0 0 rg BT 454.47 718.25 Td (in ) Tj ET Q q 0 0 0 rg BT 464.75 718.25 Td (the ) Tj ET Q q 0 0 0 rg BT 479.46 718.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 495.84 718.25 Td (value ) Tj ET Q q 0 0 0 rg BT 519.99 718.25 Td (hierarchy:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 600.75 120.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 170.50 600.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 174.50 600.75 100.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 274.50 600.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 278.50 600.75 87.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.50 600.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 369.50 600.75 98.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.50 600.75 5.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 600.75 90.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 560.75 120.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 170.50 560.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 174.50 560.75 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 274.50 560.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 278.50 560.75 87.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.50 560.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 369.50 560.75 98.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.50 560.75 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 560.75 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 530.75 120.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 170.50 530.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 174.50 530.75 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 274.50 530.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 278.50 530.75 87.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.50 530.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 369.50 530.75 98.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.50 530.75 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 530.75 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 500.75 120.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 170.50 500.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 174.50 500.75 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 274.50 500.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 278.50 500.75 87.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.50 500.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 369.50 500.75 98.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.50 500.75 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 500.75 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 470.75 120.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 170.50 470.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 174.50 470.75 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 274.50 470.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 278.50 470.75 87.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.50 470.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 369.50 470.75 98.00 -15.00 re f /GS0 gs 0.8 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j 3 M 278.5 270.75 m 365.5 270.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 369.5 270.75 m 467.5 270.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 270.75 m 562.5 270.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 174.5 241.75 m 274.5 241.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 174.5 239.75 m 274.5 239.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 278.5 241.75 m 365.5 241.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 278.5 239.75 m 365.5 239.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 369.5 241.75 m 467.5 241.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 369.5 239.75 m 467.5 239.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 241.75 m 562.5 241.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472.5 239.75 m 562.5 239.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.00 677.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 260.40 681.98 Td (Fair) Tj ET Q q 0 0 0 rg BT 278.54 681.98 Td ( ) Tj ET Q q 0 0 0 rg BT 280.86 681.98 Td (V) Tj ET Q q 0 0 0 rg BT 287.17 681.98 Td (alue Measur) Tj ET Q q 0 0 0 rg BT 340.03 681.98 Td (ement at Reporting Date Using:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 110.00 643.43 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 110.00 633.43 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.25 623.43 Td (Description) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 187.35 653.43 Td (Unadjusted Quoted) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 204.90 643.43 Td (Prices in ) Tj ET Q q 0 0 0 rg BT 244.06 643.43 Td (Active) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 179.50 633.43 Td (Markets for) Tj ET Q q 0 0 0 rg BT 230.78 633.43 Td ( Identical) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 204.30 623.43 Td (Assets \(Level 1\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 362.00 653.43 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 288.00 643.43 Td (Significant Other) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 282.80 633.43 Td (Observable Inputs) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 324.50 623.43 Td (\(Level 2\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 464.00 653.43 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 417.85 643.43 Td (Significant) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 374.80 633.43 Td (Unobservable Inputs) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 426.50 623.43 Td (\(Level 3\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 478.35 623.43 Td (December) Tj ET Q q 0 0 0 rg BT 521.48 623.43 Td ( 31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 590.42 Td (Privately Held Portfolio) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 580.42 Td (Companies:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.00 580.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 580.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.00 580.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 550.42 Td (Preferred Stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.00 550.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.65 550.42 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.00 550.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.65 550.42 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.00 550.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.65 550.42 Td (45,226,020) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.00 550.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.65 550.42 Td (45,226,020) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 535.42 Td (Bridge Notes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.65 535.42 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.65 535.42 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.65 535.42 Td (1,421,280) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 535.42 Td (1,421,280) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 520.42 Td (Common Stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.65 520.42 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.65 520.42 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 520.42 Td (933,963) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 520.42 Td (933,963) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 505.42 Td (W) Tj ET Q q 0 0 0 rg BT 68.04 505.42 Td (arrants) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.65 505.42 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.65 505.42 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.15 505.42 Td (31,887) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 505.42 Td (31,887) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 490.42 Td (Senior Secured Debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.65 490.42 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.65 490.42 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.15 490.42 Td (76,863) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 490.42 Td (76,863) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 475.42 Td (LLC Interests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.65 475.42 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.65 475.42 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.15 475.42 Td (150,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.15 475.42 Td (150,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 445.42 Td (Publicly ) Tj ET Q q 0 0 0 rg BT 88.74 445.42 Td (T) Tj ET Q q 0 0 0 rg BT 94.59 445.42 Td (raded Portfolio) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 435.42 Td (Companies:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 405.42 Td (Common Stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.00 405.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.65 405.42 Td (24,869,599) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.00 405.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.65 405.42 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.00 405.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 405.42 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.00 405.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.65 405.42 Td (24,869,599) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 390.42 Td (W) Tj ET Q q 0 0 0 rg BT 68.04 390.42 Td (arrants) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.65 390.42 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.65 390.42 Td (989) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.65 390.42 Td (202) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.15 390.42 Td (1,191) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 375.42 Td (Restricted Stock Units and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 365.42 Td (Stock Options) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.65 365.42 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.65 365.42 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.15 365.42 Td (69,163) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 365.42 Td (69,163) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 335.42 Td (T) Tj ET Q q 0 0 0 rg BT 58.76 335.42 Td (otal Investments:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.00 335.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.65 335.42 Td (24,869,599) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.00 335.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.65 335.42 Td (989) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.00 335.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.65 335.42 Td (47,909,378) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.00 335.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.65 335.42 Td (72,779,966) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 305.42 Td (Derivative Investments:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.00 275.42 Td (Rights to Payments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.00 275.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.65 275.42 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.00 275.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.65 275.42 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.00 275.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.65 275.42 Td (2,019,283) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.00 275.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 275.42 Td (2,019,283) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 245.43 Td (T) Tj ET Q q 0 0 0 rg BT 58.75 245.43 Td (otal Financial ) Tj ET Q q 0 0 0 rg BT 119.31 245.43 Td (Assets:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 177.00 245.43 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 225.65 245.43 Td (24,869,599) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 281.00 245.43 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 346.65 245.43 Td (989) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 372.00 245.43 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 418.65 245.43 Td (49,928,661) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 475.00 245.43 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 513.65 245.43 Td (74,799,249) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 63 0 obj <> endobj 64 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (31) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Significant ) Tj ET Q q 0 0 0 rg BT 98.07 742.25 Td (Unobservable ) Tj ET Q q 0 0 0 rg BT 157.23 742.25 Td (Inputs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 718.25 Td (The ) Tj ET Q q 0 0 0 rg BT 103.85 718.25 Td (table ) Tj ET Q q 0 0 0 rg BT 125.59 718.25 Td (below ) Tj ET Q q 0 0 0 rg BT 152.33 718.25 Td (presents ) Tj ET Q q 0 0 0 rg BT 187.40 718.25 Td (the ) Tj ET Q q 0 0 0 rg BT 201.92 718.25 Td (valuation ) Tj ET Q q 0 0 0 rg BT 241.44 718.25 Td (technique ) Tj ET Q q 0 0 0 rg BT 282.61 718.25 Td (and ) Tj ET Q q 0 0 0 rg BT 299.36 718.25 Td (quantitative ) Tj ET Q q 0 0 0 rg BT 348.87 718.25 Td (information ) Tj ET Q q 0 0 0 rg BT 398.38 718.25 Td (about ) Tj ET Q q 0 0 0 rg BT 422.90 718.25 Td (the ) Tj ET Q q 0 0 0 rg BT 437.42 718.25 Td (significant ) Tj ET Q q 0 0 0 rg BT 481.94 718.25 Td (unobservable ) Tj ET Q q 0 0 0 rg BT 537.56 718.25 Td (inputs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.25 Td (utilized ) Tj ET Q q 0 0 0 rg BT 82.69 706.25 Td (by ) Tj ET Q q 0 0 0 rg BT 95.40 706.25 Td (the ) Tj ET Q q 0 0 0 rg BT 110.32 706.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 151.91 706.25 Td (in ) Tj ET Q q 0 0 0 rg BT 162.39 706.25 Td (the ) Tj ET Q q 0 0 0 rg BT 177.31 706.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 193.89 706.25 Td (value ) Tj ET Q q 0 0 0 rg BT 218.25 706.25 Td (measurements ) Tj ET Q q 0 0 0 rg BT 278.16 706.25 Td (of ) Tj ET Q q 0 0 0 rg BT 289.19 706.25 Td (Level ) Tj ET Q q 0 0 0 rg BT 314.66 706.25 Td (3 ) Tj ET Q q 0 0 0 rg BT 322.37 706.25 Td (assets. ) Tj ET Q q 0 0 0 rg BT 350.90 706.25 Td (Unobservable ) Tj ET Q q 0 0 0 rg BT 409.14 706.25 Td (inputs ) Tj ET Q q 0 0 0 rg BT 436.29 706.25 Td (are ) Tj ET Q q 0 0 0 rg BT 451.21 706.25 Td (those ) Tj ET Q q 0 0 0 rg BT 475.02 706.25 Td (inputs ) Tj ET Q q 0 0 0 rg BT 502.17 706.25 Td (for ) Tj ET Q q 0 0 0 rg BT 516.53 706.25 Td (which ) Tj ET Q q 0 0 0 rg BT 543.68 706.25 Td (little ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.25 Td (or ) Tj ET Q q 0 0 0 rg BT 60.83 694.25 Td (no ) Tj ET Q q 0 0 0 rg BT 73.33 694.25 Td (market ) Tj ET Q q 0 0 0 rg BT 103.59 694.25 Td (data ) Tj ET Q q 0 0 0 rg BT 122.75 694.25 Td (exists ) Tj ET Q q 0 0 0 rg BT 148.03 694.25 Td (and, ) Tj ET Q q 0 0 0 rg BT 167.47 694.25 Td (therefore, ) Tj ET Q q 0 0 0 rg BT 208.55 694.25 Td (require ) Tj ET Q q 0 0 0 rg BT 239.37 694.25 Td (an ) Tj ET Q q 0 0 0 rg BT 251.30 694.25 Td (entity ) Tj ET Q q 0 0 0 rg BT 276.58 694.25 Td (to ) Tj ET Q q 0 0 0 rg BT 286.86 694.25 Td (develop ) Tj ET Q q 0 0 0 rg BT 321.01 694.25 Td (its ) Tj ET Q q 0 0 0 rg BT 332.96 694.25 Td (own ) Tj ET Q q 0 0 0 rg BT 352.68 694.25 Td (assumptions.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 579.75 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 123.50 579.75 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 189.50 579.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 193.50 579.75 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.50 579.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.50 579.75 187.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 579.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 579.75 102.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 565.75 73.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 123.50 565.75 66.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 189.50 565.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 193.50 565.75 71.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.50 565.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.50 565.75 187.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 565.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 565.75 102.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 542.75 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 123.50 542.75 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 189.50 542.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 193.50 542.75 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.50 542.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.50 542.75 187.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 542.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 542.75 102.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 528.75 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 123.50 528.75 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 189.50 528.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 193.50 528.75 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.50 528.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.50 528.75 187.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 528.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 528.75 102.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 458.75 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 123.50 458.75 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 189.50 458.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 193.50 458.75 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.50 458.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.50 458.75 187.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 458.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 458.75 102.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 388.75 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 123.50 388.75 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 189.50 388.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 193.50 388.75 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.50 388.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.50 388.75 187.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 388.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 388.75 102.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 374.75 73.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 123.50 374.75 66.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 189.50 374.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 193.50 374.75 71.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.50 374.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.50 374.75 187.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 374.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 374.75 102.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 351.75 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 123.50 351.75 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 189.50 351.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 193.50 351.75 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.50 351.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.50 351.75 187.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 351.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 351.75 102.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 337.75 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 123.50 337.75 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 189.50 337.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 193.50 337.75 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.50 337.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.50 337.75 187.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 337.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 337.75 102.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 323.75 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 123.50 323.75 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 189.50 323.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 193.50 323.75 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.50 323.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.50 323.75 187.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 323.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 323.75 102.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 253.75 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 123.50 253.75 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 189.50 253.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 193.50 253.75 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.50 253.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.50 253.75 187.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 253.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 253.75 102.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 239.75 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 123.50 239.75 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 189.50 239.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 193.50 239.75 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.50 239.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.50 239.75 187.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 239.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 239.75 102.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 225.75 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 123.50 225.75 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 189.50 225.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 193.50 225.75 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.50 225.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.50 225.75 187.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 225.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 225.75 102.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 197.75 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 123.50 197.75 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 189.50 197.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 193.50 197.75 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.50 197.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.50 197.75 187.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 197.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 197.75 102.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 183.75 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 123.50 183.75 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 189.50 183.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 193.50 183.75 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.50 183.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.50 183.75 187.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 183.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 183.75 102.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 169.75 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 123.50 169.75 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 189.50 169.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 193.50 169.75 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.50 169.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.50 169.75 187.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 169.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 169.75 102.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 155.75 73.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 123.50 155.75 66.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 189.50 155.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 193.50 155.75 71.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.50 155.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.50 155.75 187.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 155.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 155.75 102.00 -23.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 123.5 648.75 m 189.5 648.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 193.5 648.75 m 264.5 648.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 268.5 648.75 m 455.5 648.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 648.75 m 561.5 648.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 123.5 648.75 m 189.5 648.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 193.5 648.75 m 264.5 648.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 123.5 54.25 m 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 193.5 54.25 m 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 268.5 54.25 m 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 54.25 m BT /F2 9.00 Tf ET q 0 0 0 rg BT 130.80 662.20 Td (Fair) Tj ET Q q 0 0 0 rg BT 147.21 662.20 Td ( ) Tj ET Q q 0 0 0 rg BT 149.30 662.20 Td (V) Tj ET Q q 0 0 0 rg BT 155.30 662.20 Td (alue as) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 130.60 653.20 Td (of 12/31/2018) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 209.90 662.20 Td (V) Tj ET Q q 0 0 0 rg BT 215.99 662.20 Td (aluation) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 202.55 653.20 Td (Appr) Tj ET Q q 0 0 0 rg BT 222.97 653.20 Td (oach\(es\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 318.35 653.20 Td (UnobservableInput\(s\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 472.10 662.20 Td (Range\(s\)\(W) Tj ET Q q 0 0 0 rg BT 519.85 662.20 Td (eighted ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 489.40 653.20 Td (A) Tj ET Q q 0 0 0 rg BT 495.23 653.20 Td (verage) Tj ET Q BT /F2 9.00 Tf ET BT /F2 5.85 Tf ET q 0 0 0 rg BT 520.72 657.28 Td (\(a\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 527.54 653.20 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 278.50 635.21 Td (Public Comparable ) Tj ET Q q 0 0 0 rg BT 349.74 635.21 Td (Adjustment \(Including Non-) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 384.25 626.21 Td (Performance Risk\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 512.25 626.21 Td (0.0% \(0.0%\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 396.50 612.21 Td (Price Per Share) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 509.25 612.21 Td ($1.30 \($1.30\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 418.65 598.21 Td (V) Tj ET Q q 0 0 0 rg BT 424.57 598.21 Td (olatility) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 503.25 598.21 Td (82.5% \(82.5%\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 584.21 Td (Preferred Stock) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 126.00 584.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 150.00 584.21 Td (2,854,030) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 197.10 584.21 Td (Hybrid ) Tj ET Q q 0 0 0 rg BT 224.60 584.21 Td (Approach) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 329.20 584.21 Td (T) Tj ET Q q 0 0 0 rg BT 334.54 584.21 Td (ime to Exit / Cash Flows \(Y) Tj ET Q q 0 0 0 rg BT 434.93 584.21 Td (ears\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 527.25 584.21 Td (4.4 \(4.4\)) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 396.50 576.45 55.48 -8.18 re f /GS0 gs q 0 0 0 rg BT 396.50 570.21 Td (Price Per Share) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 576.45 76.49 -8.18 re f /GS0 gs q 0 0 0 rg BT 481.50 570.21 Td ($0.03 - $6.33 \($3.06\)) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 278.50 562.45 173.47 -8.18 re f /GS0 gs q 0 0 0 rg BT 278.50 556.21 Td (Public Comparable ) Tj ET Q q 0 0 0 rg BT 349.49 556.21 Td (Adjustment \(Including Non-) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 384.25 553.45 67.73 -8.18 re f /GS0 gs q 0 0 0 rg BT 384.25 547.21 Td (Performance Risk\)) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 471.00 553.45 86.98 -8.18 re f /GS0 gs q 0 0 0 rg BT 471.00 547.21 Td (-86.3% - 21.4% \(-4.3%\)) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 418.65 539.45 33.34 -8.18 re f /GS0 gs q 0 0 0 rg BT 418.65 533.21 Td (V) Tj ET Q q 0 0 0 rg BT 423.99 533.21 Td (olatility) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 539.45 85.48 -8.18 re f /GS0 gs q 0 0 0 rg BT 472.50 533.21 Td (46.5% - 91.6% \(69.3%\)) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 53.00 525.45 56.23 -8.18 re f /GS0 gs q 0 0 0 rg BT 53.00 519.21 Td (Preferred Stock) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 145.50 519.21 Td (32,925,125) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 196.35 525.45 64.23 -8.18 re f /GS0 gs q 0 0 0 rg BT 196.35 519.21 Td (Income ) Tj ET Q q 0 0 0 rg BT 225.09 519.21 Td (Approach) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 329.20 525.45 122.77 -8.18 re f /GS0 gs q 0 0 0 rg BT 329.20 519.21 Td (T) Tj ET Q q 0 0 0 rg BT 334.38 519.21 Td (ime to Exit / Cash Flows \(Y) Tj ET Q q 0 0 0 rg BT 434.48 519.21 Td (ears\)) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 525.45 49.49 -8.18 re f /GS0 gs q 0 0 0 rg BT 508.50 519.21 Td (5.0 - 7.8 \(5.2\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 383.75 505.21 Td (Revenue Multiples) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 527.25 505.21 Td (3.1 \(3.1\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 378.45 491.21 Td (T) Tj ET Q q 0 0 0 rg BT 383.79 491.21 Td (ime to Exit \(Y) Tj ET Q q 0 0 0 rg BT 434.92 491.21 Td (ears\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 527.25 491.21 Td (1.0 \(1.0\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 325.50 477.21 Td (Discount for Lack of Marketability) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 503.25 477.21 Td (16.2% \(16.2%\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 463.21 Td (Preferred Stock) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 150.00 463.21 Td (9,446,865) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 196.85 463.21 Td (Market ) Tj ET Q q 0 0 0 rg BT 224.84 463.21 Td (Approach) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 396.50 463.21 Td (Price Per Share) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 509.25 463.21 Td ($1.84 \($1.84\)) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 53.00 455.45 47.74 -8.18 re f /GS0 gs q 0 0 0 rg BT 53.00 449.21 Td (Bridge Notes) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 156.75 449.21 Td (134,276) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 196.35 455.45 64.23 -8.18 re f /GS0 gs q 0 0 0 rg BT 196.35 449.21 Td (Income ) Tj ET Q q 0 0 0 rg BT 225.09 449.21 Td (Approach) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 307.65 455.45 144.32 -8.18 re f /GS0 gs q 0 0 0 rg BT 307.65 449.21 Td (Estimated ) Tj ET Q q 0 0 0 rg BT 345.73 449.21 Td (V) Tj ET Q q 0 0 0 rg BT 351.23 449.21 Td (alue to Cost Ratio at Payout) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 455.45 62.99 -8.18 re f /GS0 gs q 0 0 0 rg BT 495.00 449.21 Td (0.14 - 0.50 \(0.44\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 383.75 435.21 Td (Revenue Multiples) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 527.25 435.21 Td (3.1 \(3.1\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 378.45 421.21 Td (T) Tj ET Q q 0 0 0 rg BT 383.79 421.21 Td (ime to Exit \(Y) Tj ET Q q 0 0 0 rg BT 434.92 421.21 Td (ears\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 527.25 421.21 Td (1.0 \(1.0\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 325.50 407.21 Td (Discount for Lack of Marketability) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 503.25 407.21 Td (16.2% \(16.2%\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 393.21 Td (Bridge Notes) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 150.00 393.21 Td (1,287,004) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 196.85 393.21 Td (Market ) Tj ET Q q 0 0 0 rg BT 224.84 393.21 Td (Approach) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 291.15 393.21 Td (Estimated ) Tj ET Q q 0 0 0 rg BT 329.31 393.21 Td (V) Tj ET Q q 0 0 0 rg BT 335.23 393.21 Td (alue to Cost Ratio at Conversion) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 518.25 393.21 Td (1.00 \(1.00\)) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 385.45 126.46 -8.18 re f /GS0 gs q 0 0 0 rg BT 325.50 379.21 Td (Discount for Lack of Marketability) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 503.25 385.45 54.74 -8.18 re f /GS0 gs q 0 0 0 rg BT 503.25 379.21 Td (14.6% \(14.6%\)) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 278.50 371.45 173.47 -8.18 re f /GS0 gs q 0 0 0 rg BT 278.50 365.21 Td (Public Comparable ) Tj ET Q q 0 0 0 rg BT 349.49 365.21 Td (Adjustment \(Including Non-) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 384.25 362.45 67.73 -8.18 re f /GS0 gs q 0 0 0 rg BT 384.25 356.21 Td (Performance Risk\)) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 512.25 362.45 45.74 -8.18 re f /GS0 gs q 0 0 0 rg BT 512.25 356.21 Td (0.0% \(0.0%\)) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 418.65 348.45 33.34 -8.18 re f /GS0 gs q 0 0 0 rg BT 418.65 342.21 Td (V) Tj ET Q q 0 0 0 rg BT 423.99 342.21 Td (olatility) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 348.45 85.48 -8.18 re f /GS0 gs q 0 0 0 rg BT 472.50 342.21 Td (46.5% - 79.5% \(69.8%\)) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 378.45 334.45 73.51 -8.18 re f /GS0 gs q 0 0 0 rg BT 378.45 328.21 Td (T) Tj ET Q q 0 0 0 rg BT 383.63 328.21 Td (ime to Exit \(Y) Tj ET Q q 0 0 0 rg BT 434.47 328.21 Td (ears\)) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 334.45 49.49 -8.18 re f /GS0 gs q 0 0 0 rg BT 508.50 328.21 Td (5.0 - 6.0 \(5.2\)) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 53.00 320.45 56.25 -8.18 re f /GS0 gs q 0 0 0 rg BT 53.00 314.21 Td (Common Stock) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 156.75 314.21 Td (933,963) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 196.35 320.45 64.23 -8.18 re f /GS0 gs q 0 0 0 rg BT 196.35 314.21 Td (Income ) Tj ET Q q 0 0 0 rg BT 225.09 314.21 Td (Approach) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 396.50 320.45 55.48 -8.18 re f /GS0 gs q 0 0 0 rg BT 396.50 314.21 Td (Price Per Share) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 320.45 76.49 -8.18 re f /GS0 gs q 0 0 0 rg BT 481.50 314.21 Td ($0.21 - $1.00 \($0.45\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 418.65 300.21 Td (V) Tj ET Q q 0 0 0 rg BT 424.57 300.21 Td (olatility) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 503.25 300.21 Td (55.6% \(55.6%\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 383.75 286.21 Td (Revenue Multiples) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 527.25 286.21 Td (1.8 \(1.8\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 378.45 272.21 Td (T) Tj ET Q q 0 0 0 rg BT 383.79 272.21 Td (ime to Exit \(Y) Tj ET Q q 0 0 0 rg BT 434.92 272.21 Td (ears\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 527.25 272.21 Td (0.5 \(0.5\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 258.21 Td (Common Stock) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 181.50 258.21 Td (0) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 196.85 258.21 Td (Market ) Tj ET Q q 0 0 0 rg BT 224.84 258.21 Td (Approach) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 325.50 258.21 Td (Discount for Lack of Marketability) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 512.25 258.21 Td (9.3% \(9.3%\)) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 396.50 250.45 55.48 -8.18 re f /GS0 gs q 0 0 0 rg BT 396.50 244.21 Td (Price Per Share) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 250.45 76.49 -8.18 re f /GS0 gs q 0 0 0 rg BT 481.50 244.21 Td ($1.14 - $2.27 \($2.21\)) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 418.65 236.45 33.34 -8.18 re f /GS0 gs q 0 0 0 rg BT 418.65 230.21 Td (V) Tj ET Q q 0 0 0 rg BT 423.99 230.21 Td (olatility) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 472.50 236.45 85.48 -8.18 re f /GS0 gs q 0 0 0 rg BT 472.50 230.21 Td (28.6% - 95.0% \(29.4%\)) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 53.00 222.45 32.26 -8.18 re f /GS0 gs q 0 0 0 rg BT 53.00 216.21 Td (W) Tj ET Q q 0 0 0 rg BT 60.77 216.21 Td (arrants) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 161.25 216.21 Td (32,089) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 196.35 222.45 64.23 -8.18 re f /GS0 gs q 0 0 0 rg BT 196.35 216.21 Td (Income ) Tj ET Q q 0 0 0 rg BT 225.09 216.21 Td (Approach) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 378.45 222.45 73.51 -8.18 re f /GS0 gs q 0 0 0 rg BT 378.45 216.21 Td (T) Tj ET Q q 0 0 0 rg BT 383.63 216.21 Td (ime to Exit \(Y) Tj ET Q q 0 0 0 rg BT 434.47 216.21 Td (ears\)) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 222.45 53.99 -8.18 re f /GS0 gs q 0 0 0 rg BT 504.00 216.21 Td (0.4 - 6.1 \(3.72\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 202.21 Td (W) Tj ET Q q 0 0 0 rg BT 61.13 202.21 Td (arrants) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 181.50 202.21 Td (0) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 196.85 202.21 Td (Market ) Tj ET Q q 0 0 0 rg BT 224.84 202.21 Td (Approach) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 396.50 202.21 Td (Price Per Share) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 509.25 202.21 Td ($0.00 \($0.00\)) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 387.25 194.45 64.74 -8.18 re f /GS0 gs q 0 0 0 rg BT 387.25 188.21 Td (Revenue Multiple) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 518.25 194.45 39.74 -8.18 re f /GS0 gs q 0 0 0 rg BT 518.25 188.21 Td (1.8x \(1.8x\)) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 417.75 180.45 34.24 -8.18 re f /GS0 gs q 0 0 0 rg BT 417.75 174.21 Td (Exit Date) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 527.25 180.45 30.74 -8.18 re f /GS0 gs q 0 0 0 rg BT 527.25 174.21 Td (0.5 \(0.5\)) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 399.90 166.45 52.08 -8.18 re f /GS0 gs q 0 0 0 rg BT 399.90 160.21 Td (V) Tj ET Q q 0 0 0 rg BT 405.24 160.21 Td (olatility Rate) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 503.25 166.45 54.74 -8.18 re f /GS0 gs q 0 0 0 rg BT 503.25 160.21 Td (55.6% \(55.6%\)) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 53.00 152.45 54.73 -8.18 re f /GS0 gs q 0 0 0 rg BT 53.00 146.21 Td (Senior Secured) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 53.00 143.45 17.49 -8.18 re f /GS0 gs q 0 0 0 rg BT 53.00 137.21 Td (Debt) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 161.25 137.21 Td (76,863) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 196.85 143.45 63.23 -8.18 re f /GS0 gs q 0 0 0 rg BT 196.85 137.21 Td (Market ) Tj ET Q q 0 0 0 rg BT 224.59 137.21 Td (Approach) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 325.50 143.45 126.46 -8.18 re f /GS0 gs q 0 0 0 rg BT 325.50 137.21 Td (Discount for Lack of Marketability) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 512.25 143.45 45.74 -8.18 re f /GS0 gs q 0 0 0 rg BT 512.25 137.21 Td (9.3% \(9.3%\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 108.21 Td (LLC Interests) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 156.75 108.21 Td (150,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 196.85 108.21 Td (Market ) Tj ET Q q 0 0 0 rg BT 224.59 108.21 Td (Approach) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 421.95 108.21 Td (Bid/Ask) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 492.00 117.21 Td ($50,000-$250,000) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 518.25 108.21 Td (\($150,000\)) Tj ET Q endstream endobj 65 0 obj <> endobj 66 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (32) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 722.50 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 123.50 722.50 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 189.50 722.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 193.50 722.50 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.50 722.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.50 722.50 187.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 722.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 722.50 102.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 708.50 73.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 123.50 708.50 66.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 189.50 708.50 4.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 193.50 708.50 71.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.50 708.50 4.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.50 708.50 187.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 708.50 4.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 708.50 102.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 616.50 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 123.50 616.50 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 189.50 616.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 193.50 616.50 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.50 616.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.50 616.50 187.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 616.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 616.50 102.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 602.50 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 123.50 602.50 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 189.50 602.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 193.50 602.50 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.50 602.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.50 602.50 187.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 602.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 602.50 102.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 588.50 73.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 123.50 588.50 66.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 189.50 588.50 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 193.50 588.50 71.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.50 588.50 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.50 588.50 187.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 588.50 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 588.50 102.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 551.50 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 123.50 551.50 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 189.50 551.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 193.50 551.50 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.50 551.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.50 551.50 187.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 551.50 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.50 551.50 102.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 123.5 722.5 m 189.5 722.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 193.5 722.5 m 264.5 722.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 268.5 722.5 m 455.5 722.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.5 722.5 m 561.5 722.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 123.5 551.5 m 189.5 551.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 123.5 538.5 m 189.5 538.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 123.5 536.5 m 189.5 536.5 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 130.80 735.95 Td (Fair) Tj ET Q q 0 0 0 rg BT 147.13 735.95 Td ( ) Tj ET Q q 0 0 0 rg BT 149.22 735.95 Td (V) Tj ET Q q 0 0 0 rg BT 154.89 735.95 Td (alue as) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 130.60 726.95 Td (of 12/31/2018) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 209.90 735.95 Td (V) Tj ET Q q 0 0 0 rg BT 215.57 735.95 Td (aluation ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 202.55 726.95 Td (Appr) Tj ET Q q 0 0 0 rg BT 222.89 726.95 Td (oach\(es\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 318.35 726.95 Td (UnobservableInput\(s\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 472.10 735.95 Td (Range\(s\)\(W) Tj ET Q q 0 0 0 rg BT 519.85 735.95 Td (eighted ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 489.40 726.95 Td (A) Tj ET Q q 0 0 0 rg BT 495.23 726.95 Td (verage) Tj ET Q BT /F2 9.00 Tf ET BT /F2 5.85 Tf ET q 0 0 0 rg BT 520.72 731.03 Td (\(a\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 527.54 726.95 Td (\)) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 418.65 719.20 33.34 -8.18 re f /GS0 gs q 0 0 0 rg BT 418.65 712.96 Td (V) Tj ET Q q 0 0 0 rg BT 423.99 712.96 Td (olatility) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 503.25 719.20 54.74 -8.18 re f /GS0 gs q 0 0 0 rg BT 503.25 712.96 Td (51.0% \(51.0%\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 698.96 Td (Restricted Stock) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 689.96 Td (Units and Stock) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 680.96 Td (Options) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 126.00 680.96 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 165.75 680.96 Td (4,495) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 196.35 680.96 Td (Income ) Tj ET Q q 0 0 0 rg BT 225.34 680.96 Td (Approach) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 378.45 687.20 73.51 -8.18 re f /GS0 gs q 0 0 0 rg BT 378.45 680.96 Td (T) Tj ET Q q 0 0 0 rg BT 383.63 680.96 Td (ime to Exit \(Y) Tj ET Q q 0 0 0 rg BT 434.47 680.96 Td (ears\)) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 527.25 687.20 30.74 -8.18 re f /GS0 gs q 0 0 0 rg BT 527.25 680.96 Td (0.1 \(0.1\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 325.50 666.96 Td (Discount for Lack of Marketability) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 512.25 666.96 Td (4.4% \(4.4%\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 418.65 652.96 Td (V) Tj ET Q q 0 0 0 rg BT 424.57 652.96 Td (olatility) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 503.25 652.96 Td (51.0% \(51.0%\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 638.96 Td (Restricted Stock) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 629.96 Td (Units and Stock) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 53.00 620.96 Td (Options) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 161.25 620.96 Td (64,668) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 196.85 620.96 Td (Market ) Tj ET Q q 0 0 0 rg BT 224.59 620.96 Td (Approach) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 406.80 620.96 Td (T) Tj ET Q q 0 0 0 rg BT 412.14 620.96 Td (ime to Exit) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 527.25 620.96 Td (0.1 \(0.1\)) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 274.50 613.20 177.47 -8.18 re f /GS0 gs q 0 0 0 rg BT 274.50 606.96 Td (Probability of ) Tj ET Q q 0 0 0 rg BT 326.00 606.96 Td (Achieving Independent Milestones) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 477.00 613.20 80.98 -8.18 re f /GS0 gs q 0 0 0 rg BT 477.00 606.96 Td (0.0% - 75.0% \(75.0%\)) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 280.00 599.20 171.97 -8.18 re f /GS0 gs q 0 0 0 rg BT 280.00 592.96 Td (Probability of ) Tj ET Q q 0 0 0 rg BT 331.50 592.96 Td (Achieving Dependent Milestones) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 477.00 599.20 80.98 -8.18 re f /GS0 gs q 0 0 0 rg BT 477.00 592.96 Td (9.4% - 75.0% \(52.0%\)) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 53.00 585.20 32.76 -8.18 re f /GS0 gs q 0 0 0 rg BT 53.00 578.96 Td (Rights to) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 53.00 576.20 35.00 -8.18 re f /GS0 gs q 0 0 0 rg BT 53.00 569.96 Td (Payments) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 150.00 569.96 Td (2,019,283) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 196.35 576.20 64.23 -8.18 re f /GS0 gs q 0 0 0 rg BT 196.35 569.96 Td (Income ) Tj ET Q q 0 0 0 rg BT 225.09 569.96 Td (Approach) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 351.20 576.20 100.77 -8.18 re f /GS0 gs q 0 0 0 rg BT 351.20 569.96 Td (T) Tj ET Q q 0 0 0 rg BT 356.38 569.96 Td (ime to Cash Flows \(Y) Tj ET Q q 0 0 0 rg BT 434.48 569.96 Td (ears\)) Tj ET Q BT /F1 9.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 508.50 576.20 49.49 -8.18 re f /GS0 gs q 0 0 0 rg BT 508.50 569.96 Td (2.0 - 8.0 \(4.9\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 53.00 541.95 Td (T) Tj ET Q q 0 0 0 rg BT 58.18 541.95 Td (otal) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 126.00 541.95 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 145.50 541.95 Td (49,928,661) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 563.00 538.00 Td () Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 192.35 520.48 Td (\() Tj ET Q BT /F2 9.00 Tf ET BT /F2 5.85 Tf ET q 0 0 0 rg BT 194.30 520.48 Td (a\) ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 200.63 516.40 Td (W) Tj ET Q q 0 0 0 rg BT 208.41 516.40 Td (eighted average based on fair value at ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 346.59 516.40 Td (December31, 2018) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 417.31 516.40 Td (.) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 491.0669921875 m 270.244140625 491.0669921875 l s q 0 0 0 rg BT 50.00 492.40 Td (V) Tj ET Q q 0 0 0 rg BT 56.11 492.40 Td (aluation ) Tj ET Q q 0 0 0 rg BT 90.83 492.40 Td (Methodologies ) Tj ET Q q 0 0 0 rg BT 153.32 492.40 Td (and ) Tj ET Q q 0 0 0 rg BT 170.26 492.40 Td (Inputs ) Tj ET Q q 0 0 0 rg BT 197.76 492.40 Td (for ) Tj ET Q q 0 0 0 rg BT 211.92 492.40 Td (Level ) Tj ET Q q 0 0 0 rg BT 237.18 492.40 Td (3 ) Tj ET Q q 0 0 0 rg BT 244.13 492.40 Td (Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 480.40 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 468.40 Td (The ) Tj ET Q q 0 0 0 rg BT 104.36 468.40 Td (following ) Tj ET Q q 0 0 0 rg BT 146.07 468.40 Td (sections ) Tj ET Q q 0 0 0 rg BT 181.10 468.40 Td (describe ) Tj ET Q q 0 0 0 rg BT 217.23 468.40 Td (the ) Tj ET Q q 0 0 0 rg BT 232.26 468.40 Td (valuation ) Tj ET Q q 0 0 0 rg BT 272.29 468.40 Td (techniques ) Tj ET Q q 0 0 0 rg BT 317.87 468.40 Td (and ) Tj ET Q q 0 0 0 rg BT 335.13 468.40 Td (significant ) Tj ET Q q 0 0 0 rg BT 380.16 468.40 Td (unobservable ) Tj ET Q q 0 0 0 rg BT 436.29 468.40 Td (inputs ) Tj ET Q q 0 0 0 rg BT 463.55 468.40 Td (used ) Tj ET Q q 0 0 0 rg BT 484.70 468.40 Td (to ) Tj ET Q q 0 0 0 rg BT 495.29 468.40 Td (measure ) Tj ET Q q 0 0 0 rg BT 531.43 468.40 Td (Level ) Tj ET Q q 0 0 0 rg BT 557.01 468.40 Td (3 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 456.40 Td (assets.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 432.40 Td (Preferred ) Tj ET Q q 0 0 0 rg BT 91.93 432.40 Td (Stock, ) Tj ET Q q 0 0 0 rg BT 119.71 432.40 Td (Preferred ) Tj ET Q q 0 0 0 rg BT 161.64 432.40 Td (Units, ) Tj ET Q q 0 0 0 rg BT 188.87 432.40 Td (LLC ) Tj ET Q q 0 0 0 rg BT 210.25 432.40 Td (Interests, ) Tj ET Q q 0 0 0 rg BT 250.82 432.40 Td (Bridge ) Tj ET Q q 0 0 0 rg BT 281.09 432.40 Td (Notes ) Tj ET Q q 0 0 0 rg BT 306.92 432.40 Td (and ) Tj ET Q q 0 0 0 rg BT 324.99 432.40 Td (Common ) Tj ET Q q 0 0 0 rg BT 365.27 432.40 Td (Stock) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 420.40 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 408.40 Td (Preferred ) Tj ET Q q 0 0 0 rg BT 125.45 408.40 Td (stock, ) Tj ET Q q 0 0 0 rg BT 151.32 408.40 Td (preferred ) Tj ET Q q 0 0 0 rg BT 190.21 408.40 Td (units, ) Tj ET Q q 0 0 0 rg BT 214.41 408.40 Td (LLC ) Tj ET Q q 0 0 0 rg BT 235.56 408.40 Td (interests, ) Tj ET Q q 0 0 0 rg BT 273.64 408.40 Td (bridge ) Tj ET Q q 0 0 0 rg BT 301.44 408.40 Td (notes ) Tj ET Q q 0 0 0 rg BT 324.80 408.40 Td (and ) Tj ET Q q 0 0 0 rg BT 341.50 408.40 Td (common ) Tj ET Q q 0 0 0 rg BT 378.75 408.40 Td (stock ) Tj ET Q q 0 0 0 rg BT 402.11 408.40 Td (are ) Tj ET Q q 0 0 0 rg BT 416.58 408.40 Td (valued ) Tj ET Q q 0 0 0 rg BT 445.49 408.40 Td (by ) Tj ET Q q 0 0 0 rg BT 457.74 408.40 Td (either ) Tj ET Q q 0 0 0 rg BT 482.76 408.40 Td (a ) Tj ET Q q 0 0 0 rg BT 489.46 408.40 Td (market, ) Tj ET Q q 0 0 0 rg BT 521.98 408.40 Td (income ) Tj ET Q q 0 0 0 rg BT 553.67 408.40 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 396.40 Td (hybrid ) Tj ET Q q 0 0 0 rg BT 78.70 396.40 Td (approach ) Tj ET Q q 0 0 0 rg BT 117.93 396.40 Td (using ) Tj ET Q q 0 0 0 rg BT 142.18 396.40 Td (internal ) Tj ET Q q 0 0 0 rg BT 175.31 396.40 Td (models ) Tj ET Q q 0 0 0 rg BT 206.79 396.40 Td (with ) Tj ET Q q 0 0 0 rg BT 227.15 396.40 Td (inputs, ) Tj ET Q q 0 0 0 rg BT 256.69 396.40 Td (most ) Tj ET Q q 0 0 0 rg BT 278.72 396.40 Td (of ) Tj ET Q q 0 0 0 rg BT 289.64 396.40 Td (which ) Tj ET Q q 0 0 0 rg BT 316.67 396.40 Td (are ) Tj ET Q q 0 0 0 rg BT 331.46 396.40 Td (not ) Tj ET Q q 0 0 0 rg BT 346.82 396.40 Td (market ) Tj ET Q q 0 0 0 rg BT 377.17 396.40 Td (observable. ) Tj ET Q q 0 0 0 rg BT 425.58 396.40 Td (Common ) Tj ET Q q 0 0 0 rg BT 465.39 396.40 Td (inputs ) Tj ET Q q 0 0 0 rg BT 492.43 396.40 Td (for ) Tj ET Q q 0 0 0 rg BT 506.67 396.40 Td (valuing ) Tj ET Q q 0 0 0 rg BT 539.25 396.40 Td (Level ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 384.40 Td (3 ) Tj ET Q q 0 0 0 rg BT 57.73 384.40 Td (investments ) Tj ET Q q 0 0 0 rg BT 108.24 384.40 Td (include ) Tj ET Q q 0 0 0 rg BT 140.41 384.40 Td (prices ) Tj ET Q q 0 0 0 rg BT 167.02 384.40 Td (from ) Tj ET Q q 0 0 0 rg BT 189.19 384.40 Td (recently ) Tj ET Q q 0 0 0 rg BT 224.13 384.40 Td (executed ) Tj ET Q q 0 0 0 rg BT 262.39 384.40 Td (private ) Tj ET Q q 0 0 0 rg BT 292.89 384.40 Td (transactions ) Tj ET Q q 0 0 0 rg BT 343.38 384.40 Td (in ) Tj ET Q q 0 0 0 rg BT 353.90 384.40 Td (a ) Tj ET Q q 0 0 0 rg BT 361.07 384.40 Td (company) Tj ET Q q 0 0 0 rg BT 400.50 384.40 Td (s ) Tj ET Q q 0 0 0 rg BT 407.13 384.40 Td (securities ) Tj ET Q q 0 0 0 rg BT 447.62 384.40 Td (or ) Tj ET Q q 0 0 0 rg BT 458.69 384.40 Td (unconditional ) Tj ET Q q 0 0 0 rg BT 516.41 384.40 Td (firm ) Tj ET Q q 0 0 0 rg BT 536.36 384.40 Td (of) Tj ET Q q 0 0 0 rg BT 544.51 384.40 Td (fers, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 372.40 Td (revenue ) Tj ET Q q 0 0 0 rg BT 85.24 372.40 Td (multiples ) Tj ET Q q 0 0 0 rg BT 126.05 372.40 Td (of ) Tj ET Q q 0 0 0 rg BT 137.97 372.40 Td (comparable ) Tj ET Q q 0 0 0 rg BT 188.20 372.40 Td (publicly ) Tj ET Q q 0 0 0 rg BT 224.56 372.40 Td (traded ) Tj ET Q q 0 0 0 rg BT 253.14 372.40 Td (companies, ) Tj ET Q q 0 0 0 rg BT 301.99 372.40 Td (mer) Tj ET Q q 0 0 0 rg BT 317.36 372.40 Td (ger ) Tj ET Q q 0 0 0 rg BT 333.72 372.40 Td (and ) Tj ET Q q 0 0 0 rg BT 351.75 372.40 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 399.22 372.40 Td (\("M&A"\) ) Tj ET Q q 0 0 0 rg BT 441.52 372.40 Td (transactions ) Tj ET Q q 0 0 0 rg BT 492.88 372.40 Td (consummated ) Tj ET Q q 0 0 0 rg BT 552.01 372.40 Td (by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 360.40 Td (comparable ) Tj ET Q q 0 0 0 rg BT 99.11 360.40 Td (companies, ) Tj ET Q q 0 0 0 rg BT 146.85 360.40 Td (discounts ) Tj ET Q q 0 0 0 rg BT 187.10 360.40 Td (for ) Tj ET Q q 0 0 0 rg BT 201.23 360.40 Td (lack ) Tj ET Q q 0 0 0 rg BT 220.36 360.40 Td (of ) Tj ET Q q 0 0 0 rg BT 231.16 360.40 Td (marketability) Tj ET Q q 0 0 0 rg BT 283.83 360.40 Td (, ) Tj ET Q q 0 0 0 rg BT 288.80 360.40 Td (rights ) Tj ET Q q 0 0 0 rg BT 314.05 360.40 Td (and ) Tj ET Q q 0 0 0 rg BT 330.96 360.40 Td (preferences ) Tj ET Q q 0 0 0 rg BT 379.51 360.40 Td (of ) Tj ET Q q 0 0 0 rg BT 390.31 360.40 Td (the ) Tj ET Q q 0 0 0 rg BT 405.00 360.40 Td (class ) Tj ET Q q 0 0 0 rg BT 426.91 360.40 Td (of ) Tj ET Q q 0 0 0 rg BT 437.71 360.40 Td (securities ) Tj ET Q q 0 0 0 rg BT 477.95 360.40 Td (we ) Tj ET Q q 0 0 0 rg BT 492.08 360.40 Td (own ) Tj ET Q q 0 0 0 rg BT 511.77 360.40 Td (as ) Tj ET Q q 0 0 0 rg BT 522.58 360.40 Td (compared ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 348.40 Td (with ) Tj ET Q q 0 0 0 rg BT 70.38 348.40 Td (other ) Tj ET Q q 0 0 0 rg BT 93.53 348.40 Td (classes ) Tj ET Q q 0 0 0 rg BT 123.91 348.40 Td (of ) Tj ET Q q 0 0 0 rg BT 134.84 348.40 Td (securities ) Tj ET Q q 0 0 0 rg BT 175.21 348.40 Td (the ) Tj ET Q q 0 0 0 rg BT 190.03 348.40 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 227.63 348.40 Td (company ) Tj ET Q q 0 0 0 rg BT 266.89 348.40 Td (has ) Tj ET Q q 0 0 0 rg BT 282.82 348.40 Td (issued, ) Tj ET Q q 0 0 0 rg BT 312.92 348.40 Td (particularly ) Tj ET Q q 0 0 0 rg BT 361.62 348.40 Td (related ) Tj ET Q q 0 0 0 rg BT 391.42 348.40 Td (to ) Tj ET Q q 0 0 0 rg BT 401.81 348.40 Td (potential ) Tj ET Q q 0 0 0 rg BT 439.40 348.40 Td (liquidity ) Tj ET Q q 0 0 0 rg BT 475.90 348.40 Td (scenarios ) Tj ET Q q 0 0 0 rg BT 515.71 348.40 Td (of ) Tj ET Q q 0 0 0 rg BT 526.64 348.40 Td (an ) Tj ET Q q 0 0 0 rg BT 538.68 348.40 Td (initial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 336.40 Td (public ) Tj ET Q q 0 0 0 rg BT 77.30 336.40 Td (of) Tj ET Q q 0 0 0 rg BT 85.45 336.40 Td (fering ) Tj ET Q q 0 0 0 rg BT 111.64 336.40 Td (\("IPO"\) ) Tj ET Q q 0 0 0 rg BT 144.89 336.40 Td (or ) Tj ET Q q 0 0 0 rg BT 155.53 336.40 Td (an ) Tj ET Q q 0 0 0 rg BT 167.28 336.40 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 213.47 336.40 Td (transaction, ) Tj ET Q q 0 0 0 rg BT 262.15 336.40 Td (estimated ) Tj ET Q q 0 0 0 rg BT 302.78 336.40 Td (time ) Tj ET Q q 0 0 0 rg BT 322.86 336.40 Td (to ) Tj ET Q q 0 0 0 rg BT 332.95 336.40 Td (exit, ) Tj ET Q q 0 0 0 rg BT 352.75 336.40 Td (volatilities ) Tj ET Q q 0 0 0 rg BT 397.28 336.40 Td (of ) Tj ET Q q 0 0 0 rg BT 407.92 336.40 Td (comparable ) Tj ET Q q 0 0 0 rg BT 456.87 336.40 Td (publicly ) Tj ET Q q 0 0 0 rg BT 491.95 336.40 Td (traded ) Tj ET Q q 0 0 0 rg BT 519.25 336.40 Td (companies ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 324.40 Td (and ) Tj ET Q q 0 0 0 rg BT 66.61 324.40 Td (management) Tj ET Q q 0 0 0 rg BT 120.48 324.40 Td (s ) Tj ET Q q 0 0 0 rg BT 126.54 324.40 Td (best ) Tj ET Q q 0 0 0 rg BT 144.82 324.40 Td (estimate ) Tj ET Q q 0 0 0 rg BT 180.31 324.40 Td (of ) Tj ET Q q 0 0 0 rg BT 190.81 324.40 Td (risk ) Tj ET Q q 0 0 0 rg BT 207.98 324.40 Td (attributable ) Tj ET Q q 0 0 0 rg BT 255.69 324.40 Td (to ) Tj ET Q q 0 0 0 rg BT 265.63 324.40 Td (non-performance ) Tj ET Q q 0 0 0 rg BT 336.66 324.40 Td (risk. ) Tj ET Q q 0 0 0 rg BT 356.33 324.40 Td (Certain ) Tj ET Q q 0 0 0 rg BT 387.93 324.40 Td (securities ) Tj ET Q q 0 0 0 rg BT 427.87 324.40 Td (are ) Tj ET Q q 0 0 0 rg BT 442.24 324.40 Td (valued ) Tj ET Q q 0 0 0 rg BT 471.07 324.40 Td (using ) Tj ET Q q 0 0 0 rg BT 494.91 324.40 Td (the ) Tj ET Q q 0 0 0 rg BT 509.30 324.40 Td (present ) Tj ET Q q 0 0 0 rg BT 540.34 324.40 Td (value ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 312.40 Td (of ) Tj ET Q q 0 0 0 rg BT 60.83 312.40 Td (future ) Tj ET Q q 0 0 0 rg BT 87.21 312.40 Td (cash ) Tj ET Q q 0 0 0 rg BT 107.48 312.40 Td (flows. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 288.40 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 288.40 Td (e ) Tj ET Q q 0 0 0 rg BT 102.85 288.40 Td (may ) Tj ET Q q 0 0 0 rg BT 123.83 288.40 Td (also ) Tj ET Q q 0 0 0 rg BT 143.71 288.40 Td (consider ) Tj ET Q q 0 0 0 rg BT 181.36 288.40 Td (changes ) Tj ET Q q 0 0 0 rg BT 217.33 288.40 Td (in ) Tj ET Q q 0 0 0 rg BT 228.88 288.40 Td (market ) Tj ET Q q 0 0 0 rg BT 260.41 288.40 Td (values ) Tj ET Q q 0 0 0 rg BT 289.73 288.40 Td (for ) Tj ET Q q 0 0 0 rg BT 305.16 288.40 Td (sets ) Tj ET Q q 0 0 0 rg BT 323.93 288.40 Td (of ) Tj ET Q q 0 0 0 rg BT 336.03 288.40 Td (comparable ) Tj ET Q q 0 0 0 rg BT 386.44 288.40 Td (companies ) Tj ET Q q 0 0 0 rg BT 432.97 288.40 Td (when ) Tj ET Q q 0 0 0 rg BT 458.40 288.40 Td (recent ) Tj ET Q q 0 0 0 rg BT 486.60 288.40 Td (private ) Tj ET Q q 0 0 0 rg BT 518.13 288.40 Td (transaction ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 276.40 Td (information ) Tj ET Q q 0 0 0 rg BT 99.47 276.40 Td (is ) Tj ET Q q 0 0 0 rg BT 108.39 276.40 Td (not ) Tj ET Q q 0 0 0 rg BT 123.43 276.40 Td (available ) Tj ET Q q 0 0 0 rg BT 161.77 276.40 Td (and/or ) Tj ET Q q 0 0 0 rg BT 189.58 276.40 Td (in ) Tj ET Q q 0 0 0 rg BT 199.61 276.40 Td (consideration ) Tj ET Q q 0 0 0 rg BT 255.74 276.40 Td (of ) Tj ET Q q 0 0 0 rg BT 266.32 276.40 Td (non-performance ) Tj ET Q q 0 0 0 rg BT 337.43 276.40 Td (risk. ) Tj ET Q q 0 0 0 rg BT 357.19 276.40 Td ( ) Tj ET Q q 0 0 0 rg BT 359.28 276.40 Td (W) Tj ET Q q 0 0 0 rg BT 367.92 276.40 Td (e ) Tj ET Q q 0 0 0 rg BT 374.61 276.40 Td (define ) Tj ET Q q 0 0 0 rg BT 401.85 276.40 Td (non-performance ) Tj ET Q q 0 0 0 rg BT 472.96 276.40 Td (risk ) Tj ET Q q 0 0 0 rg BT 490.22 276.40 Td (as ) Tj ET Q q 0 0 0 rg BT 500.80 276.40 Td (the ) Tj ET Q q 0 0 0 rg BT 515.28 276.40 Td (risk ) Tj ET Q q 0 0 0 rg BT 532.53 276.40 Td (that ) Tj ET Q q 0 0 0 rg BT 549.78 276.40 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 264.40 Td (price ) Tj ET Q q 0 0 0 rg BT 72.69 264.40 Td (per ) Tj ET Q q 0 0 0 rg BT 88.15 264.40 Td (share ) Tj ET Q q 0 0 0 rg BT 111.95 264.40 Td (\(or ) Tj ET Q q 0 0 0 rg BT 126.31 264.40 Td (implied ) Tj ET Q q 0 0 0 rg BT 159.57 264.40 Td (valuation ) Tj ET Q q 0 0 0 rg BT 199.48 264.40 Td (of ) Tj ET Q q 0 0 0 rg BT 210.51 264.40 Td (a ) Tj ET Q q 0 0 0 rg BT 217.65 264.40 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 255.34 264.40 Td (company\) ) Tj ET Q q 0 0 0 rg BT 298.03 264.40 Td (or ) Tj ET Q q 0 0 0 rg BT 309.06 264.40 Td (the ) Tj ET Q q 0 0 0 rg BT 323.97 264.40 Td (ef) Tj ET Q q 0 0 0 rg BT 331.56 264.40 Td (fective ) Tj ET Q q 0 0 0 rg BT 361.46 264.40 Td (yield ) Tj ET Q q 0 0 0 rg BT 384.16 264.40 Td (of ) Tj ET Q q 0 0 0 rg BT 395.19 264.40 Td (a ) Tj ET Q q 0 0 0 rg BT 402.33 264.40 Td (debt ) Tj ET Q q 0 0 0 rg BT 422.25 264.40 Td (security ) Tj ET Q q 0 0 0 rg BT 456.60 264.40 Td (of ) Tj ET Q q 0 0 0 rg BT 467.63 264.40 Td (a ) Tj ET Q q 0 0 0 rg BT 474.77 264.40 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 512.47 264.40 Td (company) Tj ET Q q 0 0 0 rg BT 548.47 264.40 Td (, ) Tj ET Q q 0 0 0 rg BT 553.67 264.40 Td (as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 252.40 Td (applicable, ) Tj ET Q q 0 0 0 rg BT 96.04 252.40 Td (does ) Tj ET Q q 0 0 0 rg BT 116.83 252.40 Td (not ) Tj ET Q q 0 0 0 rg BT 132.07 252.40 Td (appropriately ) Tj ET Q q 0 0 0 rg BT 187.83 252.40 Td (represent ) Tj ET Q q 0 0 0 rg BT 226.93 252.40 Td (the ) Tj ET Q q 0 0 0 rg BT 241.61 252.40 Td (risk ) Tj ET Q q 0 0 0 rg BT 259.06 252.40 Td (that ) Tj ET Q q 0 0 0 rg BT 276.51 252.40 Td (a ) Tj ET Q q 0 0 0 rg BT 283.41 252.40 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 320.86 252.40 Td (company ) Tj ET Q q 0 0 0 rg BT 359.97 252.40 Td (with ) Tj ET Q q 0 0 0 rg BT 380.21 252.40 Td (negative ) Tj ET Q q 0 0 0 rg BT 416.53 252.40 Td (cash ) Tj ET Q q 0 0 0 rg BT 436.76 252.40 Td (flow ) Tj ET Q q 0 0 0 rg BT 457.54 252.40 Td (will ) Tj ET Q q 0 0 0 rg BT 475.56 252.40 Td (be: ) Tj ET Q q 0 0 0 rg BT 490.23 252.40 Td (\(a\) ) Tj ET Q q 0 0 0 rg BT 503.78 252.40 Td (unable ) Tj ET Q q 0 0 0 rg BT 532.90 252.40 Td (to ) Tj ET Q q 0 0 0 rg BT 543.13 252.40 Td (raise ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 240.40 Td (capital, ) Tj ET Q q 0 0 0 rg BT 81.05 240.40 Td (will ) Tj ET Q q 0 0 0 rg BT 98.50 240.40 Td (need ) Tj ET Q q 0 0 0 rg BT 119.27 240.40 Td (to ) Tj ET Q q 0 0 0 rg BT 128.95 240.40 Td (be ) Tj ET Q q 0 0 0 rg BT 140.28 240.40 Td (shut ) Tj ET Q q 0 0 0 rg BT 158.85 240.40 Td (down ) Tj ET Q q 0 0 0 rg BT 182.96 240.40 Td (and ) Tj ET Q q 0 0 0 rg BT 199.30 240.40 Td (will ) Tj ET Q q 0 0 0 rg BT 216.75 240.40 Td (not ) Tj ET Q q 0 0 0 rg BT 231.43 240.40 Td (return ) Tj ET Q q 0 0 0 rg BT 257.20 240.40 Td (our ) Tj ET Q q 0 0 0 rg BT 272.42 240.40 Td (invested ) Tj ET Q q 0 0 0 rg BT 307.65 240.40 Td (capital; ) Tj ET Q q 0 0 0 rg BT 338.97 240.40 Td (or ) Tj ET Q q 0 0 0 rg BT 349.20 240.40 Td (\(b\) ) Tj ET Q q 0 0 0 rg BT 362.75 240.40 Td (able ) Tj ET Q q 0 0 0 rg BT 381.30 240.40 Td (to ) Tj ET Q q 0 0 0 rg BT 390.98 240.40 Td (raise ) Tj ET Q q 0 0 0 rg BT 411.75 240.40 Td (capital, ) Tj ET Q q 0 0 0 rg BT 442.80 240.40 Td (but ) Tj ET Q q 0 0 0 rg BT 457.47 240.40 Td (at ) Tj ET Q q 0 0 0 rg BT 466.58 240.40 Td (a ) Tj ET Q q 0 0 0 rg BT 472.92 240.40 Td (valuation ) Tj ET Q q 0 0 0 rg BT 512.03 240.40 Td (significantly ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 228.40 Td (lower ) Tj ET Q q 0 0 0 rg BT 75.94 228.40 Td (than ) Tj ET Q q 0 0 0 rg BT 96.33 228.40 Td (the ) Tj ET Q q 0 0 0 rg BT 111.72 228.40 Td (implied ) Tj ET Q q 0 0 0 rg BT 145.44 228.40 Td (post-money ) Tj ET Q q 0 0 0 rg BT 195.83 228.40 Td (valuation ) Tj ET Q q 0 0 0 rg BT 236.21 228.40 Td (of ) Tj ET Q q 0 0 0 rg BT 247.71 228.40 Td (the ) Tj ET Q q 0 0 0 rg BT 263.10 228.40 Td (last ) Tj ET Q q 0 0 0 rg BT 280.16 228.40 Td (round ) Tj ET Q q 0 0 0 rg BT 306.66 228.40 Td (of ) Tj ET Q q 0 0 0 rg BT 318.16 228.40 Td (financing. ) Tj ET Q q 0 0 0 rg BT 363.87 228.40 Td (W) Tj ET Q q 0 0 0 rg BT 372.51 228.40 Td (e ) Tj ET Q q 0 0 0 rg BT 380.12 228.40 Td (assess ) Tj ET Q q 0 0 0 rg BT 407.73 228.40 Td (non-performance ) Tj ET Q q 0 0 0 rg BT 479.75 228.40 Td (risk ) Tj ET Q q 0 0 0 rg BT 497.93 228.40 Td (for ) Tj ET Q q 0 0 0 rg BT 512.76 228.40 Td (each ) Tj ET Q q 0 0 0 rg BT 534.24 228.40 Td (private ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 216.40 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 87.50 216.40 Td (company ) Tj ET Q q 0 0 0 rg BT 126.66 216.40 Td (quarterly) Tj ET Q q 0 0 0 rg BT 162.10 216.40 Td (. ) Tj ET Q q 0 0 0 rg BT 167.10 216.40 Td (Our ) Tj ET Q q 0 0 0 rg BT 185.16 216.40 Td (assessment ) Tj ET Q q 0 0 0 rg BT 232.10 216.40 Td (of ) Tj ET Q q 0 0 0 rg BT 242.93 216.40 Td (non-performance ) Tj ET Q q 0 0 0 rg BT 314.28 216.40 Td (risk ) Tj ET Q q 0 0 0 rg BT 331.79 216.40 Td (typically ) Tj ET Q q 0 0 0 rg BT 369.28 216.40 Td (includes ) Tj ET Q q 0 0 0 rg BT 405.11 216.40 Td (an ) Tj ET Q q 0 0 0 rg BT 417.05 216.40 Td (evaluation ) Tj ET Q q 0 0 0 rg BT 461.20 216.40 Td (of ) Tj ET Q q 0 0 0 rg BT 472.03 216.40 Td (the ) Tj ET Q q 0 0 0 rg BT 486.75 216.40 Td (financial ) Tj ET Q q 0 0 0 rg BT 524.24 216.40 Td (condition ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 204.40 Td (and ) Tj ET Q q 0 0 0 rg BT 66.62 204.40 Td (operating ) Tj ET Q q 0 0 0 rg BT 106.57 204.40 Td (results ) Tj ET Q q 0 0 0 rg BT 134.86 204.40 Td (of ) Tj ET Q q 0 0 0 rg BT 145.38 204.40 Td (the ) Tj ET Q q 0 0 0 rg BT 159.78 204.40 Td (company) Tj ET Q q 0 0 0 rg BT 195.78 204.40 Td (, ) Tj ET Q q 0 0 0 rg BT 200.47 204.40 Td (the ) Tj ET Q q 0 0 0 rg BT 214.87 204.40 Td (company's ) Tj ET Q q 0 0 0 rg BT 259.40 204.40 Td (progress ) Tj ET Q q 0 0 0 rg BT 295.47 204.40 Td (towards ) Tj ET Q q 0 0 0 rg BT 329.31 204.40 Td (milestones, ) Tj ET Q q 0 0 0 rg BT 376.77 204.40 Td (and ) Tj ET Q q 0 0 0 rg BT 393.39 204.40 Td (the ) Tj ET Q q 0 0 0 rg BT 407.79 204.40 Td (long-term ) Tj ET Q q 0 0 0 rg BT 449.41 204.40 Td (potential ) Tj ET Q q 0 0 0 rg BT 486.58 204.40 Td (of ) Tj ET Q q 0 0 0 rg BT 497.10 204.40 Td (the ) Tj ET Q q 0 0 0 rg BT 511.50 204.40 Td (business ) Tj ET Q q 0 0 0 rg BT 547.58 204.40 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 192.40 Td (technology ) Tj ET Q q 0 0 0 rg BT 96.90 192.40 Td (of ) Tj ET Q q 0 0 0 rg BT 107.70 192.40 Td (the ) Tj ET Q q 0 0 0 rg BT 122.39 192.40 Td (company ) Tj ET Q q 0 0 0 rg BT 161.51 192.40 Td (and ) Tj ET Q q 0 0 0 rg BT 178.42 192.40 Td (how ) Tj ET Q q 0 0 0 rg BT 198.11 192.40 Td (this ) Tj ET Q q 0 0 0 rg BT 215.03 192.40 Td (potential ) Tj ET Q q 0 0 0 rg BT 252.49 192.40 Td (may ) Tj ET Q q 0 0 0 rg BT 272.18 192.40 Td (or ) Tj ET Q q 0 0 0 rg BT 282.98 192.40 Td (may ) Tj ET Q q 0 0 0 rg BT 302.67 192.40 Td (not ) Tj ET Q q 0 0 0 rg BT 317.91 192.40 Td (af) Tj ET Q q 0 0 0 rg BT 325.50 192.40 Td (fect ) Tj ET Q q 0 0 0 rg BT 342.96 192.40 Td (the ) Tj ET Q q 0 0 0 rg BT 357.64 192.40 Td (value ) Tj ET Q q 0 0 0 rg BT 381.77 192.40 Td (of ) Tj ET Q q 0 0 0 rg BT 392.57 192.40 Td (the ) Tj ET Q q 0 0 0 rg BT 407.25 192.40 Td (shares ) Tj ET Q q 0 0 0 rg BT 434.71 192.40 Td (owned ) Tj ET Q q 0 0 0 rg BT 463.84 192.40 Td (by ) Tj ET Q q 0 0 0 rg BT 476.31 192.40 Td (us. ) Tj ET Q q 0 0 0 rg BT 489.63 192.40 Td (An ) Tj ET Q q 0 0 0 rg BT 504.32 192.40 Td (increase ) Tj ET Q q 0 0 0 rg BT 539.54 192.40 Td (to ) Tj ET Q q 0 0 0 rg BT 549.79 192.40 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 180.40 Td (non-performance ) Tj ET Q q 0 0 0 rg BT 121.26 180.40 Td (risk ) Tj ET Q q 0 0 0 rg BT 138.67 180.40 Td (or ) Tj ET Q q 0 0 0 rg BT 149.40 180.40 Td (a ) Tj ET Q q 0 0 0 rg BT 156.25 180.40 Td (decrease ) Tj ET Q q 0 0 0 rg BT 193.07 180.40 Td (in ) Tj ET Q q 0 0 0 rg BT 203.26 180.40 Td (the ) Tj ET Q q 0 0 0 rg BT 217.88 180.40 Td (private ) Tj ET Q q 0 0 0 rg BT 248.05 180.40 Td (of) Tj ET Q q 0 0 0 rg BT 256.20 180.40 Td (fering ) Tj ET Q q 0 0 0 rg BT 282.49 180.40 Td (price ) Tj ET Q q 0 0 0 rg BT 304.88 180.40 Td (of ) Tj ET Q q 0 0 0 rg BT 315.62 180.40 Td (a ) Tj ET Q q 0 0 0 rg BT 322.46 180.40 Td (future ) Tj ET Q q 0 0 0 rg BT 348.75 180.40 Td (round ) Tj ET Q q 0 0 0 rg BT 374.48 180.40 Td (of ) Tj ET Q q 0 0 0 rg BT 385.22 180.40 Td (financing ) Tj ET Q q 0 0 0 rg BT 425.39 180.40 Td (from ) Tj ET Q q 0 0 0 rg BT 447.24 180.40 Td (that ) Tj ET Q q 0 0 0 rg BT 464.64 180.40 Td (of ) Tj ET Q q 0 0 0 rg BT 475.38 180.40 Td (the ) Tj ET Q q 0 0 0 rg BT 490.00 180.40 Td (most ) Tj ET Q q 0 0 0 rg BT 511.86 180.40 Td (recent ) Tj ET Q q 0 0 0 rg BT 538.69 180.40 Td (round ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 168.40 Td (would ) Tj ET Q q 0 0 0 rg BT 77.93 168.40 Td (result ) Tj ET Q q 0 0 0 rg BT 103.08 168.40 Td (in ) Tj ET Q q 0 0 0 rg BT 113.80 168.40 Td (a ) Tj ET Q q 0 0 0 rg BT 121.17 168.40 Td (lower ) Tj ET Q q 0 0 0 rg BT 146.87 168.40 Td (fair ) Tj ET Q q 0 0 0 rg BT 163.68 168.40 Td (value ) Tj ET Q q 0 0 0 rg BT 188.27 168.40 Td (measurement ) Tj ET Q q 0 0 0 rg BT 244.51 168.40 Td (and/or ) Tj ET Q q 0 0 0 rg BT 272.99 168.40 Td (a ) Tj ET Q q 0 0 0 rg BT 280.37 168.40 Td (change ) Tj ET Q q 0 0 0 rg BT 311.62 168.40 Td (in ) Tj ET Q q 0 0 0 rg BT 322.33 168.40 Td (the ) Tj ET Q q 0 0 0 rg BT 337.48 168.40 Td (distribution ) Tj ET Q q 0 0 0 rg BT 386.52 168.40 Td (of ) Tj ET Q q 0 0 0 rg BT 397.79 168.40 Td (value ) Tj ET Q q 0 0 0 rg BT 422.38 168.40 Td (among ) Tj ET Q q 0 0 0 rg BT 452.53 168.40 Td (the ) Tj ET Q q 0 0 0 rg BT 467.68 168.40 Td (classes ) Tj ET Q q 0 0 0 rg BT 498.38 168.40 Td (of ) Tj ET Q q 0 0 0 rg BT 509.64 168.40 Td (securities ) Tj ET Q q 0 0 0 rg BT 550.34 168.40 Td (we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 156.40 Td (own. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 144.40 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 132.40 Td (Option ) Tj ET Q q 0 0 0 rg BT 116.00 132.40 Td (pricing ) Tj ET Q q 0 0 0 rg BT 146.54 132.40 Td (models ) Tj ET Q q 0 0 0 rg BT 177.65 132.40 Td (place ) Tj ET Q q 0 0 0 rg BT 200.96 132.40 Td (a ) Tj ET Q q 0 0 0 rg BT 207.61 132.40 Td (high ) Tj ET Q q 0 0 0 rg BT 227.61 132.40 Td (weighting ) Tj ET Q q 0 0 0 rg BT 269.82 132.40 Td (on ) Tj ET Q q 0 0 0 rg BT 282.04 132.40 Td (liquidation ) Tj ET Q q 0 0 0 rg BT 327.59 132.40 Td (preferences, ) Tj ET Q q 0 0 0 rg BT 378.38 132.40 Td (which ) Tj ET Q q 0 0 0 rg BT 405.04 132.40 Td (means ) Tj ET Q q 0 0 0 rg BT 432.80 132.40 Td (that ) Tj ET Q q 0 0 0 rg BT 450.02 132.40 Td (small ) Tj ET Q q 0 0 0 rg BT 473.90 132.40 Td (dif) Tj ET Q q 0 0 0 rg BT 484.83 132.40 Td (ferences ) Tj ET Q q 0 0 0 rg BT 520.35 132.40 Td (in ) Tj ET Q q 0 0 0 rg BT 530.35 132.40 Td (how ) Tj ET Q q 0 0 0 rg BT 549.79 132.40 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 120.40 Td (preferences ) Tj ET Q q 0 0 0 rg BT 98.55 120.40 Td (are ) Tj ET Q q 0 0 0 rg BT 113.23 120.40 Td (structured ) Tj ET Q q 0 0 0 rg BT 155.69 120.40 Td (can ) Tj ET Q q 0 0 0 rg BT 172.04 120.40 Td (have ) Tj ET Q q 0 0 0 rg BT 193.39 120.40 Td (a ) Tj ET Q q 0 0 0 rg BT 200.30 120.40 Td (material ) Tj ET Q q 0 0 0 rg BT 235.53 120.40 Td (ef) Tj ET Q q 0 0 0 rg BT 243.12 120.40 Td (fect ) Tj ET Q q 0 0 0 rg BT 260.58 120.40 Td (on ) Tj ET Q q 0 0 0 rg BT 273.05 120.40 Td (the ) Tj ET Q q 0 0 0 rg BT 287.74 120.40 Td (fair ) Tj ET Q q 0 0 0 rg BT 304.09 120.40 Td (value ) Tj ET Q q 0 0 0 rg BT 328.22 120.40 Td (of ) Tj ET Q q 0 0 0 rg BT 339.02 120.40 Td (our ) Tj ET Q q 0 0 0 rg BT 354.82 120.40 Td (securities ) Tj ET Q q 0 0 0 rg BT 395.06 120.40 Td (at ) Tj ET Q q 0 0 0 rg BT 404.75 120.40 Td (the ) Tj ET Q q 0 0 0 rg BT 419.44 120.40 Td (time ) Tj ET Q q 0 0 0 rg BT 439.69 120.40 Td (of ) Tj ET Q q 0 0 0 rg BT 450.49 120.40 Td (valuation ) Tj ET Q q 0 0 0 rg BT 490.18 120.40 Td (and ) Tj ET Q q 0 0 0 rg BT 507.09 120.40 Td (also ) Tj ET Q q 0 0 0 rg BT 525.67 120.40 Td (on ) Tj ET Q q 0 0 0 rg BT 538.14 120.40 Td (future ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 108.40 Td (valuations ) Tj ET Q q 0 0 0 rg BT 93.67 108.40 Td (should ) Tj ET Q q 0 0 0 rg BT 122.90 108.40 Td (additional ) Tj ET Q q 0 0 0 rg BT 165.46 108.40 Td (rounds ) Tj ET Q q 0 0 0 rg BT 195.25 108.40 Td (of ) Tj ET Q q 0 0 0 rg BT 206.14 108.40 Td (financing ) Tj ET Q q 0 0 0 rg BT 246.47 108.40 Td (occur ) Tj ET Q q 0 0 0 rg BT 271.24 108.40 Td (with ) Tj ET Q q 0 0 0 rg BT 291.58 108.40 Td (senior ) Tj ET Q q 0 0 0 rg BT 318.59 108.40 Td (preferences. ) Tj ET Q q 0 0 0 rg BT 369.16 108.40 Td (As ) Tj ET Q q 0 0 0 rg BT 382.84 108.40 Td (such, ) Tj ET Q q 0 0 0 rg BT 406.23 108.40 Td (valuations ) Tj ET Q q 0 0 0 rg BT 449.90 108.40 Td (calculated ) Tj ET Q q 0 0 0 rg BT 492.99 108.40 Td (by ) Tj ET Q q 0 0 0 rg BT 505.56 108.40 Td (option ) Tj ET Q q 0 0 0 rg BT 533.68 108.40 Td (pricing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 96.40 Td (models ) Tj ET Q q 0 0 0 rg BT 81.68 96.40 Td (may ) Tj ET Q q 0 0 0 rg BT 101.68 96.40 Td (not ) Tj ET Q q 0 0 0 rg BT 117.25 96.40 Td (increase ) Tj ET Q q 0 0 0 rg BT 152.80 96.40 Td (if ) Tj ET Q q 0 0 0 rg BT 161.70 96.40 Td (1\) ) Tj ET Q q 0 0 0 rg BT 172.82 96.40 Td (rounds ) Tj ET Q q 0 0 0 rg BT 202.83 96.40 Td (of ) Tj ET Q q 0 0 0 rg BT 213.95 96.40 Td (financing ) Tj ET Q q 0 0 0 rg BT 254.50 96.40 Td (occur ) Tj ET Q q 0 0 0 rg BT 279.50 96.40 Td (at ) Tj ET Q q 0 0 0 rg BT 289.51 96.40 Td (higher ) Tj ET Q q 0 0 0 rg BT 317.85 96.40 Td (prices ) Tj ET Q q 0 0 0 rg BT 344.51 96.40 Td (per ) Tj ET Q q 0 0 0 rg BT 360.07 96.40 Td (share, ) Tj ET Q q 0 0 0 rg BT 386.46 96.40 Td (2\) ) Tj ET Q q 0 0 0 rg BT 397.58 96.40 Td (liquidation ) Tj ET Q q 0 0 0 rg BT 443.70 96.40 Td (preferences ) Tj ET Q q 0 0 0 rg BT 492.57 96.40 Td (include ) Tj ET Q q 0 0 0 rg BT 524.79 96.40 Td (multiples ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 84.40 Td (on ) Tj ET Q q 0 0 0 rg BT 62.27 84.40 Td (investment, ) Tj ET Q q 0 0 0 rg BT 110.93 84.40 Td (3\) ) Tj ET Q q 0 0 0 rg BT 121.54 84.40 Td (the ) Tj ET Q q 0 0 0 rg BT 136.03 84.40 Td (amount ) Tj ET Q q 0 0 0 rg BT 168.30 84.40 Td (of ) Tj ET Q q 0 0 0 rg BT 178.90 84.40 Td (invested ) Tj ET Q q 0 0 0 rg BT 214.50 84.40 Td (capital ) Tj ET Q q 0 0 0 rg BT 243.42 84.40 Td (is ) Tj ET Q q 0 0 0 rg BT 252.37 84.40 Td (small ) Tj ET Q q 0 0 0 rg BT 276.31 84.40 Td (and/or ) Tj ET Q q 0 0 0 rg BT 304.13 84.40 Td (4\) ) Tj ET Q q 0 0 0 rg BT 314.73 84.40 Td (liquidation ) Tj ET Q q 0 0 0 rg BT 360.34 84.40 Td (preferences ) Tj ET Q q 0 0 0 rg BT 408.69 84.40 Td (are ) Tj ET Q q 0 0 0 rg BT 423.17 84.40 Td (senior ) Tj ET Q q 0 0 0 rg BT 449.88 84.40 Td (to ) Tj ET Q q 0 0 0 rg BT 459.93 84.40 Td (prior ) Tj ET Q q 0 0 0 rg BT 481.65 84.40 Td (rounds ) Tj ET Q q 0 0 0 rg BT 511.14 84.40 Td (of ) Tj ET Q q 0 0 0 rg BT 521.75 84.40 Td (financing. ) Tj ET Q q 0 0 0 rg BT 564.51 84.40 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 72.40 Td (Additionally) Tj ET Q q 0 0 0 rg BT 99.90 72.40 Td (, ) Tj ET Q q 0 0 0 rg BT 104.14 72.40 Td (an ) Tj ET Q q 0 0 0 rg BT 115.31 72.40 Td (increase ) Tj ET Q q 0 0 0 rg BT 149.80 72.40 Td (in ) Tj ET Q q 0 0 0 rg BT 159.31 72.40 Td (the ) Tj ET Q q 0 0 0 rg BT 173.26 72.40 Td (volatility ) Tj ET Q q 0 0 0 rg BT 211.11 72.40 Td (assumption ) Tj ET Q q 0 0 0 rg BT 258.40 72.40 Td (generally ) Tj ET Q q 0 0 0 rg BT 297.34 72.40 Td (increases ) Tj ET Q q 0 0 0 rg BT 335.72 72.40 Td (the ) Tj ET Q q 0 0 0 rg BT 349.67 72.40 Td (enterprise ) Tj ET Q q 0 0 0 rg BT 390.83 72.40 Td (value ) Tj ET Q q 0 0 0 rg BT 414.22 72.40 Td (calculated ) Tj ET Q q 0 0 0 rg BT 456.48 72.40 Td (in ) Tj ET Q q 0 0 0 rg BT 465.99 72.40 Td (an ) Tj ET Q q 0 0 0 rg BT 477.17 72.40 Td (option ) Tj ET Q q 0 0 0 rg BT 504.46 72.40 Td (pricing ) Tj ET Q q 0 0 0 rg BT 534.52 72.40 Td (model. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 60.40 Td (An ) Tj ET Q q 0 0 0 rg BT 65.30 60.40 Td (increase ) Tj ET Q q 0 0 0 rg BT 101.14 60.40 Td (in ) Tj ET Q q 0 0 0 rg BT 112.00 60.40 Td (the ) Tj ET Q q 0 0 0 rg BT 127.30 60.40 Td (time ) Tj ET Q q 0 0 0 rg BT 148.16 60.40 Td (to ) Tj ET Q q 0 0 0 rg BT 159.02 60.40 Td (exit ) Tj ET Q q 0 0 0 rg BT 177.10 60.40 Td (assumption ) Tj ET Q q 0 0 0 rg BT 225.73 60.40 Td (also ) Tj ET Q q 0 0 0 rg BT 244.93 60.40 Td (generally ) Tj ET Q q 0 0 0 rg BT 285.21 60.40 Td (increases ) Tj ET Q q 0 0 0 rg BT 324.94 60.40 Td (the ) Tj ET Q q 0 0 0 rg BT 340.24 60.40 Td (enterprise ) Tj ET Q q 0 0 0 rg BT 382.74 60.40 Td (value ) Tj ET Q q 0 0 0 rg BT 407.48 60.40 Td (calculated ) Tj ET Q q 0 0 0 rg BT 451.09 60.40 Td (in ) Tj ET Q q 0 0 0 rg BT 461.95 60.40 Td (an ) Tj ET Q q 0 0 0 rg BT 474.47 60.40 Td (option ) Tj ET Q q 0 0 0 rg BT 503.11 60.40 Td (pricing ) Tj ET Q q 0 0 0 rg BT 534.52 60.40 Td (model. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 48.40 Td (V) Tj ET Q q 0 0 0 rg BT 56.11 48.40 Td (ariations ) Tj ET Q q 0 0 0 rg BT 93.05 48.40 Td (in ) Tj ET Q q 0 0 0 rg BT 103.33 48.40 Td (the ) Tj ET Q q 0 0 0 rg BT 118.04 48.40 Td (expected ) Tj ET Q q 0 0 0 rg BT 156.07 48.40 Td (time ) Tj ET Q q 0 0 0 rg BT 176.35 48.40 Td (to ) Tj ET Q q 0 0 0 rg BT 186.63 48.40 Td (exit ) Tj ET Q q 0 0 0 rg BT 204.12 48.40 Td (or ) Tj ET Q q 0 0 0 rg BT 214.95 48.40 Td (expected ) Tj ET Q q 0 0 0 rg BT 252.98 48.40 Td (volatility ) Tj ET Q q 0 0 0 rg BT 291.59 48.40 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 343.54 48.40 Td (have ) Tj ET Q q 0 0 0 rg BT 364.92 48.40 Td (a ) Tj ET Q q 0 0 0 rg BT 371.86 48.40 Td (significant ) Tj ET Q q 0 0 0 rg BT 416.57 48.40 Td (impact ) Tj ET Q q 0 0 0 rg BT 446.28 48.40 Td (on ) Tj ET Q q 0 0 0 rg BT 458.78 48.40 Td (fair ) Tj ET Q q 0 0 0 rg BT 475.16 48.40 Td (value. ) Tj ET Q endstream endobj 67 0 obj <> endobj 68 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (33) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 742.10 Td (Bridge ) Tj ET Q q 0 0 0 rg BT 118.63 742.10 Td (notes ) Tj ET Q q 0 0 0 rg BT 142.64 742.10 Td (commonly ) Tj ET Q q 0 0 0 rg BT 188.33 742.10 Td (contain ) Tj ET Q q 0 0 0 rg BT 220.67 742.10 Td (terms ) Tj ET Q q 0 0 0 rg BT 245.79 742.10 Td (that ) Tj ET Q q 0 0 0 rg BT 263.70 742.10 Td (provide ) Tj ET Q q 0 0 0 rg BT 297.16 742.10 Td (for ) Tj ET Q q 0 0 0 rg BT 311.72 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 326.85 742.10 Td (conversion ) Tj ET Q q 0 0 0 rg BT 373.64 742.10 Td (of ) Tj ET Q q 0 0 0 rg BT 384.88 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 400.00 742.10 Td (full ) Tj ET Q q 0 0 0 rg BT 416.80 742.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 449.70 742.10 Td (of ) Tj ET Q q 0 0 0 rg BT 460.94 742.10 Td (principal, ) Tj ET Q q 0 0 0 rg BT 501.89 742.10 Td (and ) Tj ET Q q 0 0 0 rg BT 519.24 742.10 Td (sometimes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (interest, ) Tj ET Q q 0 0 0 rg BT 84.60 730.10 Td (into ) Tj ET Q q 0 0 0 rg BT 102.82 730.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 130.48 730.10 Td (of ) Tj ET Q q 0 0 0 rg BT 141.47 730.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 180.77 730.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 204.54 730.10 Td (at ) Tj ET Q q 0 0 0 rg BT 214.43 730.10 Td (a ) Tj ET Q q 0 0 0 rg BT 221.53 730.10 Td (defined ) Tj ET Q q 0 0 0 rg BT 254.18 730.10 Td (price ) Tj ET Q q 0 0 0 rg BT 276.83 730.10 Td (per ) Tj ET Q q 0 0 0 rg BT 292.26 730.10 Td (share ) Tj ET Q q 0 0 0 rg BT 316.03 730.10 Td (and/or ) Tj ET Q q 0 0 0 rg BT 344.24 730.10 Td (the ) Tj ET Q q 0 0 0 rg BT 359.12 730.10 Td (price ) Tj ET Q q 0 0 0 rg BT 381.77 730.10 Td (per ) Tj ET Q q 0 0 0 rg BT 397.21 730.10 Td (share ) Tj ET Q q 0 0 0 rg BT 420.97 730.10 Td (of ) Tj ET Q q 0 0 0 rg BT 431.96 730.10 Td (the ) Tj ET Q q 0 0 0 rg BT 446.85 730.10 Td (next ) Tj ET Q q 0 0 0 rg BT 466.73 730.10 Td (round ) Tj ET Q q 0 0 0 rg BT 492.72 730.10 Td (of ) Tj ET Q q 0 0 0 rg BT 503.72 730.10 Td (financing. ) Tj ET Q q 0 0 0 rg BT 546.45 730.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (use ) Tj ET Q q 0 0 0 rg BT 65.92 718.10 Td (of ) Tj ET Q q 0 0 0 rg BT 76.84 718.10 Td (a ) Tj ET Q q 0 0 0 rg BT 83.87 718.10 Td (discount ) Tj ET Q q 0 0 0 rg BT 120.34 718.10 Td (for ) Tj ET Q q 0 0 0 rg BT 134.59 718.10 Td (non-performance ) Tj ET Q q 0 0 0 rg BT 206.03 718.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 223.62 718.10 Td (in ) Tj ET Q q 0 0 0 rg BT 233.99 718.10 Td (the ) Tj ET Q q 0 0 0 rg BT 248.80 718.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 288.60 718.10 Td (of ) Tj ET Q q 0 0 0 rg BT 299.52 718.10 Td (bridge ) Tj ET Q q 0 0 0 rg BT 327.65 718.10 Td (notes ) Tj ET Q q 0 0 0 rg BT 351.35 718.10 Td (would ) Tj ET Q q 0 0 0 rg BT 378.94 718.10 Td (indicate ) Tj ET Q q 0 0 0 rg BT 413.18 718.10 Td (the ) Tj ET Q q 0 0 0 rg BT 427.99 718.10 Td (potential ) Tj ET Q q 0 0 0 rg BT 465.57 718.10 Td (for ) Tj ET Q q 0 0 0 rg BT 479.82 718.10 Td (conversion ) Tj ET Q q 0 0 0 rg BT 526.28 718.10 Td (of ) Tj ET Q q 0 0 0 rg BT 537.20 718.10 Td (only ) Tj ET Q q 0 0 0 rg BT 557.57 718.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (portion ) Tj ET Q q 0 0 0 rg BT 81.41 706.10 Td (of ) Tj ET Q q 0 0 0 rg BT 92.27 706.10 Td (the ) Tj ET Q q 0 0 0 rg BT 107.01 706.10 Td (principal, ) Tj ET Q q 0 0 0 rg BT 147.57 706.10 Td (plus ) Tj ET Q q 0 0 0 rg BT 166.77 706.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 198.73 706.10 Td (when ) Tj ET Q q 0 0 0 rg BT 222.91 706.10 Td (applicable, ) Tj ET Q q 0 0 0 rg BT 269.02 706.10 Td (into ) Tj ET Q q 0 0 0 rg BT 287.10 706.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 314.62 706.10 Td (of ) Tj ET Q q 0 0 0 rg BT 325.47 706.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 364.63 706.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 388.27 706.10 Td (or ) Tj ET Q q 0 0 0 rg BT 399.12 706.10 Td (the ) Tj ET Q q 0 0 0 rg BT 413.86 706.10 Td (potential ) Tj ET Q q 0 0 0 rg BT 451.38 706.10 Td (that ) Tj ET Q q 0 0 0 rg BT 468.90 706.10 Td (a ) Tj ET Q q 0 0 0 rg BT 475.86 706.10 Td (conversion ) Tj ET Q q 0 0 0 rg BT 522.26 706.10 Td (event ) Tj ET Q q 0 0 0 rg BT 546.44 706.10 Td (will ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (not ) Tj ET Q q 0 0 0 rg BT 66.21 694.10 Td (occur ) Tj ET Q q 0 0 0 rg BT 91.86 694.10 Td (and ) Tj ET Q q 0 0 0 rg BT 109.73 694.10 Td (that ) Tj ET Q q 0 0 0 rg BT 128.16 694.10 Td (the ) Tj ET Q q 0 0 0 rg BT 143.81 694.10 Td (likely ) Tj ET Q q 0 0 0 rg BT 170.02 694.10 Td (outcome ) Tj ET Q q 0 0 0 rg BT 207.89 694.10 Td (of ) Tj ET Q q 0 0 0 rg BT 219.65 694.10 Td (a ) Tj ET Q q 0 0 0 rg BT 227.53 694.10 Td (liquidation ) Tj ET Q q 0 0 0 rg BT 274.29 694.10 Td (of ) Tj ET Q q 0 0 0 rg BT 286.06 694.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 312.82 694.10 Td (would ) Tj ET Q q 0 0 0 rg BT 341.26 694.10 Td (result ) Tj ET Q q 0 0 0 rg BT 366.91 694.10 Td (in ) Tj ET Q q 0 0 0 rg BT 378.12 694.10 Td (payment ) Tj ET Q q 0 0 0 rg BT 415.99 694.10 Td (of ) Tj ET Q q 0 0 0 rg BT 427.76 694.10 Td (less ) Tj ET Q q 0 0 0 rg BT 446.19 694.10 Td (than ) Tj ET Q q 0 0 0 rg BT 466.84 694.10 Td (the ) Tj ET Q q 0 0 0 rg BT 482.50 694.10 Td (remaining ) Tj ET Q q 0 0 0 rg BT 526.47 694.10 Td (principal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 99.17 682.10 Td (of ) Tj ET Q q 0 0 0 rg BT 110.00 682.10 Td (the ) Tj ET Q q 0 0 0 rg BT 124.71 682.10 Td (note. ) Tj ET Q q 0 0 0 rg BT 146.38 682.10 Td (An ) Tj ET Q q 0 0 0 rg BT 161.10 682.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 196.35 682.10 Td (in ) Tj ET Q q 0 0 0 rg BT 206.63 682.10 Td (non-performance ) Tj ET Q q 0 0 0 rg BT 277.98 682.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 295.48 682.10 Td (would ) Tj ET Q q 0 0 0 rg BT 322.98 682.10 Td (result ) Tj ET Q q 0 0 0 rg BT 347.70 682.10 Td (in ) Tj ET Q q 0 0 0 rg BT 357.98 682.10 Td (a ) Tj ET Q q 0 0 0 rg BT 364.92 682.10 Td (lower ) Tj ET Q q 0 0 0 rg BT 390.19 682.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 406.56 682.10 Td (value ) Tj ET Q q 0 0 0 rg BT 430.72 682.10 Td (measurement.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 670.10 Td () Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.15 658.10 Td (arrants ) Tj ET Q q 0 0 0 rg BT 90.66 658.10 Td (and ) Tj ET Q q 0 0 0 rg BT 108.73 658.10 Td (Options) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 634.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 634.10 Td (e ) Tj ET Q q 0 0 0 rg BT 101.67 634.10 Td (use ) Tj ET Q q 0 0 0 rg BT 117.60 634.10 Td (the ) Tj ET Q q 0 0 0 rg BT 132.42 634.10 Td (Black-Scholes-Merton ) Tj ET Q q 0 0 0 rg BT 225.55 634.10 Td (option-pricing ) Tj ET Q q 0 0 0 rg BT 285.36 634.10 Td (model ) Tj ET Q q 0 0 0 rg BT 312.95 634.10 Td (to ) Tj ET Q q 0 0 0 rg BT 323.32 634.10 Td (determine ) Tj ET Q q 0 0 0 rg BT 365.90 634.10 Td (the ) Tj ET Q q 0 0 0 rg BT 380.72 634.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 397.19 634.10 Td (value ) Tj ET Q q 0 0 0 rg BT 421.44 634.10 Td (of ) Tj ET Q q 0 0 0 rg BT 432.37 634.10 Td (warrants ) Tj ET Q q 0 0 0 rg BT 469.40 634.10 Td (and ) Tj ET Q q 0 0 0 rg BT 486.43 634.10 Td (options ) Tj ET Q q 0 0 0 rg BT 518.48 634.10 Td (held ) Tj ET Q q 0 0 0 rg BT 538.29 634.10 Td (in ) Tj ET Q q 0 0 0 rg BT 548.67 634.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 87.19 622.10 Td (unless ) Tj ET Q q 0 0 0 rg BT 114.38 622.10 Td (there ) Tj ET Q q 0 0 0 rg BT 136.56 622.10 Td (is ) Tj ET Q q 0 0 0 rg BT 145.43 622.10 Td (a ) Tj ET Q q 0 0 0 rg BT 152.06 622.10 Td (publicly ) Tj ET Q q 0 0 0 rg BT 187.03 622.10 Td (traded ) Tj ET Q q 0 0 0 rg BT 214.21 622.10 Td (active ) Tj ET Q q 0 0 0 rg BT 240.28 622.10 Td (market ) Tj ET Q q 0 0 0 rg BT 270.24 622.10 Td (for ) Tj ET Q q 0 0 0 rg BT 284.09 622.10 Td (such ) Tj ET Q q 0 0 0 rg BT 304.62 622.10 Td (warrants ) Tj ET Q q 0 0 0 rg BT 341.24 622.10 Td (and ) Tj ET Q q 0 0 0 rg BT 357.87 622.10 Td (options ) Tj ET Q q 0 0 0 rg BT 389.52 622.10 Td (or ) Tj ET Q q 0 0 0 rg BT 400.04 622.10 Td (another ) Tj ET Q q 0 0 0 rg BT 432.22 622.10 Td (indication ) Tj ET Q q 0 0 0 rg BT 474.41 622.10 Td (of ) Tj ET Q q 0 0 0 rg BT 484.93 622.10 Td (value ) Tj ET Q q 0 0 0 rg BT 508.78 622.10 Td (such ) Tj ET Q q 0 0 0 rg BT 529.31 622.10 Td (as ) Tj ET Q q 0 0 0 rg BT 539.83 622.10 Td (a ) Tj ET Q q 0 0 0 rg BT 546.46 622.10 Td (sale ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.78 610.10 Td (the ) Tj ET Q q 0 0 0 rg BT 75.44 610.10 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 112.89 610.10 Td (company) Tj ET Q q 0 0 0 rg BT 148.89 610.10 Td (. ) Tj ET Q q 0 0 0 rg BT 153.84 610.10 Td (Option ) Tj ET Q q 0 0 0 rg BT 184.06 610.10 Td (pricing ) Tj ET Q q 0 0 0 rg BT 214.84 610.10 Td (models, ) Tj ET Q q 0 0 0 rg BT 248.67 610.10 Td (including ) Tj ET Q q 0 0 0 rg BT 288.89 610.10 Td (the ) Tj ET Q q 0 0 0 rg BT 303.56 610.10 Td (Black-Scholes-Merton ) Tj ET Q q 0 0 0 rg BT 396.54 610.10 Td (model, ) Tj ET Q q 0 0 0 rg BT 426.48 610.10 Td (require ) Tj ET Q q 0 0 0 rg BT 457.24 610.10 Td (the ) Tj ET Q q 0 0 0 rg BT 471.91 610.10 Td (use ) Tj ET Q q 0 0 0 rg BT 487.69 610.10 Td (of ) Tj ET Q q 0 0 0 rg BT 498.46 610.10 Td (subjective ) Tj ET Q q 0 0 0 rg BT 541.45 610.10 Td (input ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (assumptions, ) Tj ET Q q 0 0 0 rg BT 103.64 598.10 Td (including ) Tj ET Q q 0 0 0 rg BT 143.10 598.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 180.32 598.10 Td (volatility) Tj ET Q q 0 0 0 rg BT 215.78 598.10 Td (, ) Tj ET Q q 0 0 0 rg BT 219.97 598.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 257.19 598.10 Td (life, ) Tj ET Q q 0 0 0 rg BT 274.70 598.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 311.92 598.10 Td (dividend ) Tj ET Q q 0 0 0 rg BT 348.61 598.10 Td (rate, ) Tj ET Q q 0 0 0 rg BT 367.78 598.10 Td (and ) Tj ET Q q 0 0 0 rg BT 383.91 598.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 421.13 598.10 Td (risk-free ) Tj ET Q q 0 0 0 rg BT 456.68 598.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 473.36 598.10 Td (of ) Tj ET Q q 0 0 0 rg BT 483.38 598.10 Td (return. ) Tj ET Q q 0 0 0 rg BT 511.44 598.10 Td (In ) Tj ET Q q 0 0 0 rg BT 521.46 598.10 Td (the ) Tj ET Q q 0 0 0 rg BT 535.36 598.10 Td (Black-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (Scholes-Merton ) Tj ET Q q 0 0 0 rg BT 116.06 586.10 Td (model, ) Tj ET Q q 0 0 0 rg BT 145.75 586.10 Td (variations ) Tj ET Q q 0 0 0 rg BT 187.37 586.10 Td (in ) Tj ET Q q 0 0 0 rg BT 197.33 586.10 Td (the ) Tj ET Q q 0 0 0 rg BT 211.73 586.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 249.45 586.10 Td (volatility ) Tj ET Q q 0 0 0 rg BT 287.75 586.10 Td (or ) Tj ET Q q 0 0 0 rg BT 298.26 586.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 335.98 586.10 Td (term ) Tj ET Q q 0 0 0 rg BT 356.49 586.10 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 408.13 586.10 Td (have ) Tj ET Q q 0 0 0 rg BT 429.19 586.10 Td (a ) Tj ET Q q 0 0 0 rg BT 435.82 586.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 480.22 586.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 509.61 586.10 Td (on ) Tj ET Q q 0 0 0 rg BT 521.80 586.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 537.86 586.10 Td (value. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (Because ) Tj ET Q q 0 0 0 rg BT 85.33 574.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 114.55 574.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 154.34 574.10 Td (underlying ) Tj ET Q q 0 0 0 rg BT 199.68 574.10 Td (the ) Tj ET Q q 0 0 0 rg BT 213.91 574.10 Td (warrants ) Tj ET Q q 0 0 0 rg BT 250.36 574.10 Td (in ) Tj ET Q q 0 0 0 rg BT 260.16 574.10 Td (our ) Tj ET Q q 0 0 0 rg BT 275.50 574.10 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 312.52 574.10 Td (are ) Tj ET Q q 0 0 0 rg BT 326.74 574.10 Td (not ) Tj ET Q q 0 0 0 rg BT 341.54 574.10 Td (publicly ) Tj ET Q q 0 0 0 rg BT 376.33 574.10 Td (traded, ) Tj ET Q q 0 0 0 rg BT 405.83 574.10 Td (many ) Tj ET Q q 0 0 0 rg BT 430.07 574.10 Td (of ) Tj ET Q q 0 0 0 rg BT 440.42 574.10 Td (the ) Tj ET Q q 0 0 0 rg BT 454.65 574.10 Td (required ) Tj ET Q q 0 0 0 rg BT 489.99 574.10 Td (input ) Tj ET Q q 0 0 0 rg BT 512.56 574.10 Td (assumptions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (are ) Tj ET Q q 0 0 0 rg BT 64.71 562.10 Td (more ) Tj ET Q q 0 0 0 rg BT 87.75 562.10 Td (dif) Tj ET Q q 0 0 0 rg BT 98.68 562.10 Td (ficult ) Tj ET Q q 0 0 0 rg BT 122.29 562.10 Td (to ) Tj ET Q q 0 0 0 rg BT 132.56 562.10 Td (estimate ) Tj ET Q q 0 0 0 rg BT 168.38 562.10 Td (than ) Tj ET Q q 0 0 0 rg BT 188.10 562.10 Td (they ) Tj ET Q q 0 0 0 rg BT 207.82 562.10 Td (would ) Tj ET Q q 0 0 0 rg BT 235.32 562.10 Td (be ) Tj ET Q q 0 0 0 rg BT 247.26 562.10 Td (if ) Tj ET Q q 0 0 0 rg BT 255.86 562.10 Td (a ) Tj ET Q q 0 0 0 rg BT 262.80 562.10 Td (public ) Tj ET Q q 0 0 0 rg BT 290.30 562.10 Td (market ) Tj ET Q q 0 0 0 rg BT 320.56 562.10 Td (for ) Tj ET Q q 0 0 0 rg BT 334.72 562.10 Td (the ) Tj ET Q q 0 0 0 rg BT 349.44 562.10 Td (underlying ) Tj ET Q q 0 0 0 rg BT 395.26 562.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 435.53 562.10 Td (existed.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 550.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 538.10 Td (An ) Tj ET Q q 0 0 0 rg BT 101.41 538.10 Td (input ) Tj ET Q q 0 0 0 rg BT 125.15 538.10 Td (to ) Tj ET Q q 0 0 0 rg BT 136.12 538.10 Td (the ) Tj ET Q q 0 0 0 rg BT 151.52 538.10 Td (Black-Scholes-Merton ) Tj ET Q q 0 0 0 rg BT 245.24 538.10 Td (option-pricing ) Tj ET Q q 0 0 0 rg BT 305.64 538.10 Td (model ) Tj ET Q q 0 0 0 rg BT 333.83 538.10 Td (is ) Tj ET Q q 0 0 0 rg BT 343.68 538.10 Td (the ) Tj ET Q q 0 0 0 rg BT 359.09 538.10 Td (value ) Tj ET Q q 0 0 0 rg BT 383.93 538.10 Td (per ) Tj ET Q q 0 0 0 rg BT 399.89 538.10 Td (share ) Tj ET Q q 0 0 0 rg BT 424.17 538.10 Td (of ) Tj ET Q q 0 0 0 rg BT 435.69 538.10 Td (the ) Tj ET Q q 0 0 0 rg BT 451.09 538.10 Td (type ) Tj ET Q q 0 0 0 rg BT 471.50 538.10 Td (of ) Tj ET Q q 0 0 0 rg BT 483.02 538.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 507.31 538.10 Td (for ) Tj ET Q q 0 0 0 rg BT 522.16 538.10 Td (which ) Tj ET Q q 0 0 0 rg BT 549.79 538.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (warrant ) Tj ET Q q 0 0 0 rg BT 83.47 526.10 Td (is ) Tj ET Q q 0 0 0 rg BT 93.08 526.10 Td (exercisable ) Tj ET Q q 0 0 0 rg BT 140.99 526.10 Td (as ) Tj ET Q q 0 0 0 rg BT 152.25 526.10 Td (of ) Tj ET Q q 0 0 0 rg BT 163.52 526.10 Td (the ) Tj ET Q q 0 0 0 rg BT 178.67 526.10 Td (date ) Tj ET Q q 0 0 0 rg BT 198.26 526.10 Td (of ) Tj ET Q q 0 0 0 rg BT 209.53 526.10 Td (valuation. ) Tj ET Q q 0 0 0 rg BT 251.96 526.10 Td (This ) Tj ET Q q 0 0 0 rg BT 272.68 526.10 Td (input ) Tj ET Q q 0 0 0 rg BT 296.17 526.10 Td (is ) Tj ET Q q 0 0 0 rg BT 305.78 526.10 Td (derived ) Tj ET Q q 0 0 0 rg BT 338.70 526.10 Td (according ) Tj ET Q q 0 0 0 rg BT 381.06 526.10 Td (to ) Tj ET Q q 0 0 0 rg BT 391.77 526.10 Td (the ) Tj ET Q q 0 0 0 rg BT 406.93 526.10 Td (methodologies ) Tj ET Q q 0 0 0 rg BT 468.74 526.10 Td (discussed ) Tj ET Q q 0 0 0 rg BT 510.01 526.10 Td (in ) Tj ET Q q 0 0 0 rg BT 520.72 526.10 Td ("Preferred ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.10 Td (Stock, ) Tj ET Q q 0 0 0 rg BT 77.78 514.10 Td (Preferred ) Tj ET Q q 0 0 0 rg BT 117.48 514.10 Td (Units, ) Tj ET Q q 0 0 0 rg BT 144.15 514.10 Td (LLC ) Tj ET Q q 0 0 0 rg BT 165.53 514.10 Td (Interests, ) Tj ET Q q 0 0 0 rg BT 204.41 514.10 Td (Bridge ) Tj ET Q q 0 0 0 rg BT 234.13 514.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 259.96 514.10 Td (and ) Tj ET Q q 0 0 0 rg BT 276.89 514.10 Td (Common ) Tj ET Q q 0 0 0 rg BT 316.62 514.10 Td (Stock.") Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 345.98 514.10 Td () Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (Rights ) Tj ET Q q 0 0 0 rg BT 79.18 490.10 Td (to ) Tj ET Q q 0 0 0 rg BT 89.46 490.10 Td (Payments) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 466.10 Td (Rights ) Tj ET Q q 0 0 0 rg BT 116.08 466.10 Td (to ) Tj ET Q q 0 0 0 rg BT 127.82 466.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 170.11 466.10 Td (are ) Tj ET Q q 0 0 0 rg BT 186.28 466.10 Td (valued ) Tj ET Q q 0 0 0 rg BT 216.90 466.10 Td (using ) Tj ET Q q 0 0 0 rg BT 242.53 466.10 Td (a ) Tj ET Q q 0 0 0 rg BT 250.93 466.10 Td (probability-weighted ) Tj ET Q q 0 0 0 rg BT 338.76 466.10 Td (discounted ) Tj ET Q q 0 0 0 rg BT 386.05 466.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 407.78 466.10 Td (flow ) Tj ET Q q 0 0 0 rg BT 430.08 466.10 Td (model. ) Tj ET Q q 0 0 0 rg BT 460.66 466.10 Td (As ) Tj ET Q q 0 0 0 rg BT 475.73 466.10 Td (part ) Tj ET Q q 0 0 0 rg BT 495.24 466.10 Td (of ) Tj ET Q q 0 0 0 rg BT 506.66 466.10 Td (Amgen ) Tj ET Q q 0 0 0 rg BT 540.06 466.10 Td (Inc.) Tj ET Q q 0 0 0 rg BT 558.11 466.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 96.79 454.10 Td (of ) Tj ET Q q 0 0 0 rg BT 108.03 454.10 Td (our ) Tj ET Q q 0 0 0 rg BT 124.27 454.10 Td (former ) Tj ET Q q 0 0 0 rg BT 154.39 454.10 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 192.29 454.10 Td (company) Tj ET Q q 0 0 0 rg BT 228.30 454.10 Td (, ) Tj ET Q q 0 0 0 rg BT 233.71 454.10 Td (BioV) Tj ET Q q 0 0 0 rg BT 254.27 454.10 Td (ex ) Tj ET Q q 0 0 0 rg BT 266.61 454.10 Td (Group, ) Tj ET Q q 0 0 0 rg BT 297.58 454.10 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 318.25 454.10 Td (we ) Tj ET Q q 0 0 0 rg BT 332.82 454.10 Td (are ) Tj ET Q q 0 0 0 rg BT 347.94 454.10 Td (entitled ) Tj ET Q q 0 0 0 rg BT 380.84 454.10 Td (to ) Tj ET Q q 0 0 0 rg BT 391.53 454.10 Td (potential ) Tj ET Q q 0 0 0 rg BT 429.42 454.10 Td (future ) Tj ET Q q 0 0 0 rg BT 456.21 454.10 Td (milestone ) Tj ET Q q 0 0 0 rg BT 498.00 454.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 539.24 454.10 Td (based ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 72.74 442.10 Td (the ) Tj ET Q q 0 0 0 rg BT 87.69 442.10 Td (achievement ) Tj ET Q q 0 0 0 rg BT 140.95 442.10 Td (of ) Tj ET Q q 0 0 0 rg BT 152.02 442.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 181.96 442.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 225.79 442.10 Td (and ) Tj ET Q q 0 0 0 rg BT 242.97 442.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 265.14 442.10 Td (milestones. ) Tj ET Q q 0 0 0 rg BT 312.95 442.10 Td (W) Tj ET Q q 0 0 0 rg BT 321.59 442.10 Td (e ) Tj ET Q q 0 0 0 rg BT 328.77 442.10 Td (are ) Tj ET Q q 0 0 0 rg BT 343.71 442.10 Td (also ) Tj ET Q q 0 0 0 rg BT 362.56 442.10 Td (entitled ) Tj ET Q q 0 0 0 rg BT 395.28 442.10 Td (to ) Tj ET Q q 0 0 0 rg BT 405.80 442.10 Td (future ) Tj ET Q q 0 0 0 rg BT 432.41 442.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 473.47 442.10 Td (from ) Tj ET Q q 0 0 0 rg BT 495.65 442.10 Td (Xenio ) Tj ET Q q 0 0 0 rg BT 522.82 442.10 Td (Holdings, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 70.56 430.10 Td (which ) Tj ET Q q 0 0 0 rg BT 97.80 430.10 Td (mer) Tj ET Q q 0 0 0 rg BT 113.16 430.10 Td (ged ) Tj ET Q q 0 0 0 rg BT 130.40 430.10 Td (with ) Tj ET Q q 0 0 0 rg BT 150.97 430.10 Td (one ) Tj ET Q q 0 0 0 rg BT 168.21 430.10 Td (of ) Tj ET Q q 0 0 0 rg BT 179.33 430.10 Td (our ) Tj ET Q q 0 0 0 rg BT 195.46 430.10 Td (former ) Tj ET Q q 0 0 0 rg BT 225.46 430.10 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 263.25 430.10 Td (companies, ) Tj ET Q q 0 0 0 rg BT 311.31 430.10 Td (Xenio ) Tj ET Q q 0 0 0 rg BT 338.54 430.10 Td (Systems, ) Tj ET Q q 0 0 0 rg BT 377.18 430.10 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 397.74 430.10 Td (in ) Tj ET Q q 0 0 0 rg BT 408.32 430.10 Td (the ) Tj ET Q q 0 0 0 rg BT 423.33 430.10 Td (event ) Tj ET Q q 0 0 0 rg BT 447.78 430.10 Td (of ) Tj ET Q q 0 0 0 rg BT 458.90 430.10 Td (a ) Tj ET Q q 0 0 0 rg BT 466.14 430.10 Td (sale ) Tj ET Q q 0 0 0 rg BT 484.48 430.10 Td (of ) Tj ET Q q 0 0 0 rg BT 495.61 430.10 Td (Xenio ) Tj ET Q q 0 0 0 rg BT 522.84 430.10 Td (Holdings, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 67.77 418.10 Td (W) Tj ET Q q 0 0 0 rg BT 76.41 418.10 Td (e ) Tj ET Q q 0 0 0 rg BT 83.54 418.10 Td (assign ) Tj ET Q q 0 0 0 rg BT 111.24 418.10 Td (probabilities ) Tj ET Q q 0 0 0 rg BT 163.92 418.10 Td (to ) Tj ET Q q 0 0 0 rg BT 174.40 418.10 Td (the ) Tj ET Q q 0 0 0 rg BT 189.31 418.10 Td (achievements ) Tj ET Q q 0 0 0 rg BT 246.42 418.10 Td (of ) Tj ET Q q 0 0 0 rg BT 257.45 418.10 Td (the ) Tj ET Q q 0 0 0 rg BT 272.36 418.10 Td (various ) Tj ET Q q 0 0 0 rg BT 304.49 418.10 Td (milestones. ) Tj ET Q q 0 0 0 rg BT 352.46 418.10 Td (Milestones ) Tj ET Q q 0 0 0 rg BT 399.04 418.10 Td (identified ) Tj ET Q q 0 0 0 rg BT 440.06 418.10 Td (as ) Tj ET Q q 0 0 0 rg BT 451.08 418.10 Td (independent ) Tj ET Q q 0 0 0 rg BT 502.65 418.10 Td (milestones ) Tj ET Q q 0 0 0 rg BT 548.12 418.10 Td (can ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (be ) Tj ET Q q 0 0 0 rg BT 62.69 406.10 Td (achieved ) Tj ET Q q 0 0 0 rg BT 101.47 406.10 Td (irrespective ) Tj ET Q q 0 0 0 rg BT 151.36 406.10 Td (of ) Tj ET Q q 0 0 0 rg BT 162.95 406.10 Td (the ) Tj ET Q q 0 0 0 rg BT 178.41 406.10 Td (achievement ) Tj ET Q q 0 0 0 rg BT 232.19 406.10 Td (of ) Tj ET Q q 0 0 0 rg BT 243.77 406.10 Td (other ) Tj ET Q q 0 0 0 rg BT 267.57 406.10 Td (contractual ) Tj ET Q q 0 0 0 rg BT 315.24 406.10 Td (milestones. ) Tj ET Q q 0 0 0 rg BT 363.76 406.10 Td (Dependent ) Tj ET Q q 0 0 0 rg BT 410.33 406.10 Td (milestones ) Tj ET Q q 0 0 0 rg BT 456.36 406.10 Td (are ) Tj ET Q q 0 0 0 rg BT 471.81 406.10 Td (those ) Tj ET Q q 0 0 0 rg BT 496.17 406.10 Td (that ) Tj ET Q q 0 0 0 rg BT 514.42 406.10 Td (can ) Tj ET Q q 0 0 0 rg BT 531.55 406.10 Td (only ) Tj ET Q q 0 0 0 rg BT 552.58 406.10 Td (be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (achieved ) Tj ET Q q 0 0 0 rg BT 88.26 394.10 Td (after ) Tj ET Q q 0 0 0 rg BT 109.30 394.10 Td (another) Tj ET Q q 0 0 0 rg BT 138.89 394.10 Td (, ) Tj ET Q q 0 0 0 rg BT 144.11 394.10 Td (or ) Tj ET Q q 0 0 0 rg BT 155.17 394.10 Td (series ) Tj ET Q q 0 0 0 rg BT 180.67 394.10 Td (of ) Tj ET Q q 0 0 0 rg BT 191.72 394.10 Td (other) Tj ET Q q 0 0 0 rg BT 211.87 394.10 Td (, ) Tj ET Q q 0 0 0 rg BT 217.10 394.10 Td (milestones ) Tj ET Q q 0 0 0 rg BT 262.60 394.10 Td (are ) Tj ET Q q 0 0 0 rg BT 277.53 394.10 Td (achieved. ) Tj ET Q q 0 0 0 rg BT 318.09 394.10 Td (The ) Tj ET Q q 0 0 0 rg BT 336.37 394.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 368.53 394.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 390.13 394.10 Td (used ) Tj ET Q q 0 0 0 rg BT 411.19 394.10 Td (in ) Tj ET Q q 0 0 0 rg BT 421.69 394.10 Td (these ) Tj ET Q q 0 0 0 rg BT 444.97 394.10 Td (models ) Tj ET Q q 0 0 0 rg BT 476.58 394.10 Td (are ) Tj ET Q q 0 0 0 rg BT 491.52 394.10 Td (observable ) Tj ET Q q 0 0 0 rg BT 537.56 394.10 Td (inputs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (from ) Tj ET Q q 0 0 0 rg BT 71.94 382.10 Td (sources ) Tj ET Q q 0 0 0 rg BT 104.43 382.10 Td (such ) Tj ET Q q 0 0 0 rg BT 125.26 382.10 Td (as ) Tj ET Q q 0 0 0 rg BT 136.09 382.10 Td (the ) Tj ET Q q 0 0 0 rg BT 150.81 382.10 Td (published ) Tj ET Q q 0 0 0 rg BT 192.19 382.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 224.13 382.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 245.50 382.10 Td (for ) Tj ET Q q 0 0 0 rg BT 259.66 382.10 Td (corporate ) Tj ET Q q 0 0 0 rg BT 299.92 382.10 Td (bonds ) Tj ET Q q 0 0 0 rg BT 326.31 382.10 Td (of ) Tj ET Q q 0 0 0 rg BT 337.14 382.10 Td (the ) Tj ET Q q 0 0 0 rg BT 351.86 382.10 Td (acquiring ) Tj ET Q q 0 0 0 rg BT 392.12 382.10 Td (or ) Tj ET Q q 0 0 0 rg BT 402.95 382.10 Td (comparable ) Tj ET Q q 0 0 0 rg BT 452.09 382.10 Td (companies.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 370.10 Td () Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 358.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 79.73 358.10 Td (Secured ) Tj ET Q q 0 0 0 rg BT 115.56 358.10 Td (Debt) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 346.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 334.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 334.10 Td (e ) Tj ET Q q 0 0 0 rg BT 101.32 334.10 Td (currently ) Tj ET Q q 0 0 0 rg BT 139.66 334.10 Td (hold ) Tj ET Q q 0 0 0 rg BT 159.69 334.10 Td (investments ) Tj ET Q q 0 0 0 rg BT 209.71 334.10 Td (in ) Tj ET Q q 0 0 0 rg BT 219.73 334.10 Td (senior ) Tj ET Q q 0 0 0 rg BT 246.42 334.10 Td (secured ) Tj ET Q q 0 0 0 rg BT 279.20 334.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 298.66 334.10 Td (securities. ) Tj ET Q q 0 0 0 rg BT 341.01 334.10 Td (W) Tj ET Q q 0 0 0 rg BT 349.65 334.10 Td (e ) Tj ET Q q 0 0 0 rg BT 356.33 334.10 Td (value ) Tj ET Q q 0 0 0 rg BT 380.23 334.10 Td (these ) Tj ET Q q 0 0 0 rg BT 403.03 334.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 443.04 334.10 Td (either ) Tj ET Q q 0 0 0 rg BT 468.04 334.10 Td (by ) Tj ET Q q 0 0 0 rg BT 480.29 334.10 Td (an ) Tj ET Q q 0 0 0 rg BT 491.98 334.10 Td (income ) Tj ET Q q 0 0 0 rg BT 523.66 334.10 Td (or ) Tj ET Q q 0 0 0 rg BT 534.23 334.10 Td (market ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (approach. ) Tj ET Q q 0 0 0 rg BT 91.70 322.10 Td (The ) Tj ET Q q 0 0 0 rg BT 110.00 322.10 Td (income ) Tj ET Q q 0 0 0 rg BT 142.19 322.10 Td (approach ) Tj ET Q q 0 0 0 rg BT 181.59 322.10 Td (uses ) Tj ET Q q 0 0 0 rg BT 201.57 322.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 241.54 322.10 Td (techniques ) Tj ET Q q 0 0 0 rg BT 287.06 322.10 Td (to ) Tj ET Q q 0 0 0 rg BT 297.59 322.10 Td (convert ) Tj ET Q q 0 0 0 rg BT 330.33 322.10 Td (future ) Tj ET Q q 0 0 0 rg BT 356.96 322.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 393.61 322.10 Td (\(for ) Tj ET Q q 0 0 0 rg BT 411.35 322.10 Td (example, ) Tj ET Q q 0 0 0 rg BT 450.48 322.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 471.00 322.10 Td (flows ) Tj ET Q q 0 0 0 rg BT 495.98 322.10 Td (or ) Tj ET Q q 0 0 0 rg BT 507.07 322.10 Td (earnings\) ) Tj ET Q q 0 0 0 rg BT 547.03 322.10 Td (to ) Tj ET Q q 0 0 0 rg BT 557.56 322.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (single ) Tj ET Q q 0 0 0 rg BT 76.13 310.10 Td (present ) Tj ET Q q 0 0 0 rg BT 107.26 310.10 Td (value ) Tj ET Q q 0 0 0 rg BT 131.16 310.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 163.40 310.10 Td (\(discounted\). ) Tj ET Q q 0 0 0 rg BT 217.97 310.10 Td (The ) Tj ET Q q 0 0 0 rg BT 235.76 310.10 Td (measurement ) Tj ET Q q 0 0 0 rg BT 291.32 310.10 Td (is ) Tj ET Q q 0 0 0 rg BT 300.23 310.10 Td (based ) Tj ET Q q 0 0 0 rg BT 325.25 310.10 Td (on ) Tj ET Q q 0 0 0 rg BT 337.49 310.10 Td (the ) Tj ET Q q 0 0 0 rg BT 351.96 310.10 Td (value ) Tj ET Q q 0 0 0 rg BT 375.86 310.10 Td (indicated ) Tj ET Q q 0 0 0 rg BT 414.75 310.10 Td (by ) Tj ET Q q 0 0 0 rg BT 427.00 310.10 Td (current ) Tj ET Q q 0 0 0 rg BT 457.56 310.10 Td (market ) Tj ET Q q 0 0 0 rg BT 487.57 310.10 Td (expectations ) Tj ET Q q 0 0 0 rg BT 539.80 310.10 Td (about ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (those ) Tj ET Q q 0 0 0 rg BT 73.39 298.10 Td (future ) Tj ET Q q 0 0 0 rg BT 99.54 298.10 Td (amounts. ) Tj ET Q q 0 0 0 rg BT 138.20 298.10 Td (Common ) Tj ET Q q 0 0 0 rg BT 177.71 298.10 Td (inputs ) Tj ET Q q 0 0 0 rg BT 204.43 298.10 Td (for ) Tj ET Q q 0 0 0 rg BT 218.37 298.10 Td (valuing ) Tj ET Q q 0 0 0 rg BT 250.64 298.10 Td (Level ) Tj ET Q q 0 0 0 rg BT 275.68 298.10 Td (3 ) Tj ET Q q 0 0 0 rg BT 282.96 298.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 302.45 298.10 Td (investments ) Tj ET Q q 0 0 0 rg BT 352.50 298.10 Td (include: ) Tj ET Q q 0 0 0 rg BT 386.99 298.10 Td (the ) Tj ET Q q 0 0 0 rg BT 401.48 298.10 Td (ef) Tj ET Q q 0 0 0 rg BT 409.07 298.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 438.55 298.10 Td (yield ) Tj ET Q q 0 0 0 rg BT 460.82 298.10 Td (of ) Tj ET Q q 0 0 0 rg BT 471.43 298.10 Td (the ) Tj ET Q q 0 0 0 rg BT 485.92 298.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 505.42 298.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 551.58 298.10 Td (or) Tj ET Q q 0 0 0 rg BT 559.51 298.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (in ) Tj ET Q q 0 0 0 rg BT 59.83 286.10 Td (the ) Tj ET Q q 0 0 0 rg BT 74.10 286.10 Td (case ) Tj ET Q q 0 0 0 rg BT 93.36 286.10 Td (where ) Tj ET Q q 0 0 0 rg BT 119.84 286.10 Td (we ) Tj ET Q q 0 0 0 rg BT 133.56 286.10 Td (have ) Tj ET Q q 0 0 0 rg BT 154.49 286.10 Td (received ) Tj ET Q q 0 0 0 rg BT 190.40 286.10 Td (warrant ) Tj ET Q q 0 0 0 rg BT 222.99 286.10 Td (coverage, ) Tj ET Q q 0 0 0 rg BT 263.63 286.10 Td (the ) Tj ET Q q 0 0 0 rg BT 277.90 286.10 Td (warrant-adjusted ) Tj ET Q q 0 0 0 rg BT 347.15 286.10 Td (ef) Tj ET Q q 0 0 0 rg BT 354.73 286.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 383.99 286.10 Td (yield ) Tj ET Q q 0 0 0 rg BT 406.04 286.10 Td (of ) Tj ET Q q 0 0 0 rg BT 416.42 286.10 Td (the ) Tj ET Q q 0 0 0 rg BT 430.69 286.10 Td (security) Tj ET Q q 0 0 0 rg BT 461.70 286.10 Td (, ) Tj ET Q q 0 0 0 rg BT 466.25 286.10 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 516.08 286.10 Td (for ) Tj ET Q q 0 0 0 rg BT 529.79 286.10 Td (changes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.10 Td (in ) Tj ET Q q 0 0 0 rg BT 59.60 274.10 Td (the ) Tj ET Q q 0 0 0 rg BT 73.63 274.10 Td (yields ) Tj ET Q q 0 0 0 rg BT 99.34 274.10 Td (of ) Tj ET Q q 0 0 0 rg BT 109.49 274.10 Td (comparable ) Tj ET Q q 0 0 0 rg BT 157.95 274.10 Td (publicly ) Tj ET Q q 0 0 0 rg BT 192.54 274.10 Td (traded ) Tj ET Q q 0 0 0 rg BT 219.34 274.10 Td (high-yield ) Tj ET Q q 0 0 0 rg BT 262.27 274.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 281.30 274.10 Td (funds ) Tj ET Q q 0 0 0 rg BT 305.34 274.10 Td (and ) Tj ET Q q 0 0 0 rg BT 321.60 274.10 Td (risk-free ) Tj ET Q q 0 0 0 rg BT 357.29 274.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 388.54 274.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 409.23 274.10 Td (and ) Tj ET Q q 0 0 0 rg BT 425.49 274.10 Td (an ) Tj ET Q q 0 0 0 rg BT 436.75 274.10 Td (assessment ) Tj ET Q q 0 0 0 rg BT 483.01 274.10 Td (of ) Tj ET Q q 0 0 0 rg BT 493.15 274.10 Td (non-performance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (risk. ) Tj ET Q q 0 0 0 rg BT 70.04 262.10 Td (For ) Tj ET Q q 0 0 0 rg BT 86.47 262.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 106.23 262.10 Td (investments ) Tj ET Q q 0 0 0 rg BT 156.54 262.10 Td (valued ) Tj ET Q q 0 0 0 rg BT 185.73 262.10 Td (by ) Tj ET Q q 0 0 0 rg BT 198.27 262.10 Td (the ) Tj ET Q q 0 0 0 rg BT 213.03 262.10 Td (income ) Tj ET Q q 0 0 0 rg BT 245.00 262.10 Td (approach, ) Tj ET Q q 0 0 0 rg BT 286.68 262.10 Td (an ) Tj ET Q q 0 0 0 rg BT 298.66 262.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 333.96 262.10 Td (in ) Tj ET Q q 0 0 0 rg BT 344.27 262.10 Td (yields ) Tj ET Q q 0 0 0 rg BT 370.70 262.10 Td (would ) Tj ET Q q 0 0 0 rg BT 398.24 262.10 Td (result ) Tj ET Q q 0 0 0 rg BT 422.99 262.10 Td (in ) Tj ET Q q 0 0 0 rg BT 433.31 262.10 Td (a ) Tj ET Q q 0 0 0 rg BT 440.29 262.10 Td (lower ) Tj ET Q q 0 0 0 rg BT 465.60 262.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 482.01 262.10 Td (value ) Tj ET Q q 0 0 0 rg BT 506.21 262.10 Td (measurement. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (Furthermore, ) Tj ET Q q 0 0 0 rg BT 104.51 250.10 Td (yields ) Tj ET Q q 0 0 0 rg BT 130.43 250.10 Td (would ) Tj ET Q q 0 0 0 rg BT 157.46 250.10 Td (decrease, ) Tj ET Q q 0 0 0 rg BT 196.40 250.10 Td (and ) Tj ET Q q 0 0 0 rg BT 212.87 250.10 Td (value ) Tj ET Q q 0 0 0 rg BT 236.55 250.10 Td (would ) Tj ET Q q 0 0 0 rg BT 263.58 250.10 Td (increase, ) Tj ET Q q 0 0 0 rg BT 300.86 250.10 Td (if ) Tj ET Q q 0 0 0 rg BT 309.00 250.10 Td (the ) Tj ET Q q 0 0 0 rg BT 323.25 250.10 Td (company ) Tj ET Q q 0 0 0 rg BT 361.93 250.10 Td (is ) Tj ET Q q 0 0 0 rg BT 370.63 250.10 Td (exceeding ) Tj ET Q q 0 0 0 rg BT 413.19 250.10 Td (tar) Tj ET Q q 0 0 0 rg BT 423.56 250.10 Td (gets ) Tj ET Q q 0 0 0 rg BT 441.69 250.10 Td (and ) Tj ET Q q 0 0 0 rg BT 458.16 250.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 475.19 250.10 Td (has ) Tj ET Q q 0 0 0 rg BT 490.55 250.10 Td (been ) Tj ET Q q 0 0 0 rg BT 511.46 250.10 Td (substantially ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (reduced ) Tj ET Q q 0 0 0 rg BT 84.75 238.10 Td (from ) Tj ET Q q 0 0 0 rg BT 107.29 238.10 Td (the ) Tj ET Q q 0 0 0 rg BT 122.61 238.10 Td (level ) Tj ET Q q 0 0 0 rg BT 145.14 238.10 Td (of ) Tj ET Q q 0 0 0 rg BT 156.57 238.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 174.68 238.10 Td (that ) Tj ET Q q 0 0 0 rg BT 192.77 238.10 Td (existed ) Tj ET Q q 0 0 0 rg BT 224.20 238.10 Td (at ) Tj ET Q q 0 0 0 rg BT 234.52 238.10 Td (the ) Tj ET Q q 0 0 0 rg BT 249.84 238.10 Td (time ) Tj ET Q q 0 0 0 rg BT 270.71 238.10 Td (of ) Tj ET Q q 0 0 0 rg BT 282.15 238.10 Td (investment. ) Tj ET Q q 0 0 0 rg BT 331.17 238.10 Td (Y) Tj ET Q q 0 0 0 rg BT 337.84 238.10 Td (ields ) Tj ET Q q 0 0 0 rg BT 359.83 238.10 Td (would ) Tj ET Q q 0 0 0 rg BT 387.93 238.10 Td (increase, ) Tj ET Q q 0 0 0 rg BT 426.29 238.10 Td (and ) Tj ET Q q 0 0 0 rg BT 443.83 238.10 Td (values ) Tj ET Q q 0 0 0 rg BT 472.48 238.10 Td (would ) Tj ET Q q 0 0 0 rg BT 500.58 238.10 Td (decrease, ) Tj ET Q q 0 0 0 rg BT 540.59 238.10 Td (if ) Tj ET Q q 0 0 0 rg BT 549.80 238.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (company ) Tj ET Q q 0 0 0 rg BT 88.77 226.10 Td (is ) Tj ET Q q 0 0 0 rg BT 97.56 226.10 Td (failing ) Tj ET Q q 0 0 0 rg BT 125.78 226.10 Td (to ) Tj ET Q q 0 0 0 rg BT 135.67 226.10 Td (meet ) Tj ET Q q 0 0 0 rg BT 157.22 226.10 Td (its ) Tj ET Q q 0 0 0 rg BT 168.78 226.10 Td (tar) Tj ET Q q 0 0 0 rg BT 179.15 226.10 Td (gets ) Tj ET Q q 0 0 0 rg BT 197.37 226.10 Td (and ) Tj ET Q q 0 0 0 rg BT 213.93 226.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 231.04 226.10 Td (has ) Tj ET Q q 0 0 0 rg BT 246.49 226.10 Td (been ) Tj ET Q q 0 0 0 rg BT 267.48 226.10 Td (increased ) Tj ET Q q 0 0 0 rg BT 307.35 226.10 Td (from ) Tj ET Q q 0 0 0 rg BT 328.91 226.10 Td (the ) Tj ET Q q 0 0 0 rg BT 343.24 226.10 Td (level ) Tj ET Q q 0 0 0 rg BT 364.79 226.10 Td (of ) Tj ET Q q 0 0 0 rg BT 375.23 226.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 392.35 226.10 Td (that ) Tj ET Q q 0 0 0 rg BT 409.46 226.10 Td (existed ) Tj ET Q q 0 0 0 rg BT 439.90 226.10 Td (at ) Tj ET Q q 0 0 0 rg BT 449.23 226.10 Td (the ) Tj ET Q q 0 0 0 rg BT 463.57 226.10 Td (time ) Tj ET Q q 0 0 0 rg BT 483.46 226.10 Td (of ) Tj ET Q q 0 0 0 rg BT 493.90 226.10 Td (investment. ) Tj ET Q q 0 0 0 rg BT 542.40 226.10 Td ( ) Tj ET Q q 0 0 0 rg BT 544.51 226.10 Td ( ) Tj ET Q q 0 0 0 rg BT 546.48 226.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (market ) Tj ET Q q 0 0 0 rg BT 79.91 214.10 Td (approach ) Tj ET Q q 0 0 0 rg BT 118.70 214.10 Td (distributes ) Tj ET Q q 0 0 0 rg BT 162.51 214.10 Td (an ) Tj ET Q q 0 0 0 rg BT 174.09 214.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 214.56 214.10 Td (value ) Tj ET Q q 0 0 0 rg BT 238.36 214.10 Td (of ) Tj ET Q q 0 0 0 rg BT 248.83 214.10 Td (the ) Tj ET Q q 0 0 0 rg BT 263.20 214.10 Td (entity ) Tj ET Q q 0 0 0 rg BT 288.11 214.10 Td (through ) Tj ET Q q 0 0 0 rg BT 321.37 214.10 Td (the ) Tj ET Q q 0 0 0 rg BT 335.73 214.10 Td (liquidation ) Tj ET Q q 0 0 0 rg BT 381.20 214.10 Td (waterfall ) Tj ET Q q 0 0 0 rg BT 418.88 214.10 Td (to ) Tj ET Q q 0 0 0 rg BT 428.80 214.10 Td (derive ) Tj ET Q q 0 0 0 rg BT 455.94 214.10 Td (value. ) Tj ET Q q 0 0 0 rg BT 482.24 214.10 Td ( ) Tj ET Q q 0 0 0 rg BT 484.38 214.10 Td (Common ) Tj ET Q q 0 0 0 rg BT 523.75 214.10 Td (inputs ) Tj ET Q q 0 0 0 rg BT 550.35 214.10 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (valuing ) Tj ET Q q 0 0 0 rg BT 81.55 202.10 Td (by ) Tj ET Q q 0 0 0 rg BT 93.11 202.10 Td (the ) Tj ET Q q 0 0 0 rg BT 106.89 202.10 Td (market ) Tj ET Q q 0 0 0 rg BT 136.21 202.10 Td (approach ) Tj ET Q q 0 0 0 rg BT 174.42 202.10 Td (include: ) Tj ET Q q 0 0 0 rg BT 208.19 202.10 Td (multiples ) Tj ET Q q 0 0 0 rg BT 246.97 202.10 Td (of ) Tj ET Q q 0 0 0 rg BT 256.86 202.10 Td (publicly ) Tj ET Q q 0 0 0 rg BT 291.19 202.10 Td (traded ) Tj ET Q q 0 0 0 rg BT 317.73 202.10 Td (comparable ) Tj ET Q q 0 0 0 rg BT 365.93 202.10 Td (companies, ) Tj ET Q q 0 0 0 rg BT 412.76 202.10 Td (time ) Tj ET Q q 0 0 0 rg BT 432.09 202.10 Td (to ) Tj ET Q q 0 0 0 rg BT 441.43 202.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 478.52 202.10 Td (return/exit, ) Tj ET Q q 0 0 0 rg BT 524.23 202.10 Td (discounts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (for ) Tj ET Q q 0 0 0 rg BT 64.16 190.10 Td (lack ) Tj ET Q q 0 0 0 rg BT 83.32 190.10 Td (of ) Tj ET Q q 0 0 0 rg BT 94.15 190.10 Td (marketability ) Tj ET Q q 0 0 0 rg BT 149.96 190.10 Td (and ) Tj ET Q q 0 0 0 rg BT 166.90 190.10 Td ( ) Tj ET Q q 0 0 0 rg BT 169.40 190.10 Td (probability ) Tj ET Q q 0 0 0 rg BT 215.78 190.10 Td (weighted ) Tj ET Q q 0 0 0 rg BT 254.94 190.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 292.97 190.10 Td (return ) Tj ET Q q 0 0 0 rg BT 319.35 190.10 Td (models.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 166.10 Td (Changes ) Tj ET Q q 0 0 0 rg BT 88.62 166.10 Td (in ) Tj ET Q q 0 0 0 rg BT 99.46 166.10 Td (V) Tj ET Q q 0 0 0 rg BT 105.02 166.10 Td (aluation ) Tj ET Q q 0 0 0 rg BT 141.61 166.10 Td (Approaches) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 142.10 Td (During ) Tj ET Q q 0 0 0 rg BT 115.98 142.10 Td (the ) Tj ET Q q 0 0 0 rg BT 129.85 142.10 Td (year ) Tj ET Q q 0 0 0 rg BT 148.71 142.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.23 142.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 231.97 142.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.97 142.10 Td (, ) Tj ET Q q 0 0 0 rg BT 256.12 142.10 Td (the ) Tj ET Q q 0 0 0 rg BT 269.98 142.10 Td (following ) Tj ET Q q 0 0 0 rg BT 310.52 142.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 344.38 142.10 Td (in ) Tj ET Q q 0 0 0 rg BT 353.81 142.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 392.67 142.10 Td (methodology ) Tj ET Q q 0 0 0 rg BT 447.09 142.10 Td (occurred ) Tj ET Q q 0 0 0 rg BT 483.72 142.10 Td (since ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.92 142.10 Td (December31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 130.10 Td (:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 106.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 106.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 106.10 Td (e ) Tj ET Q q 0 0 0 rg BT 102.54 106.10 Td (changed ) Tj ET Q q 0 0 0 rg BT 139.32 106.10 Td (the ) Tj ET Q q 0 0 0 rg BT 155.00 106.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 195.68 106.10 Td (methodology ) Tj ET Q q 0 0 0 rg BT 251.92 106.10 Td (of ) Tj ET Q q 0 0 0 rg BT 263.71 106.10 Td (our ) Tj ET Q q 0 0 0 rg BT 280.50 106.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 321.73 106.10 Td (of ) Tj ET Q q 0 0 0 rg BT 333.53 106.10 Td (ORIG3N, ) Tj ET Q q 0 0 0 rg BT 376.16 106.10 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 397.39 106.10 Td (from ) Tj ET Q q 0 0 0 rg BT 420.29 106.10 Td (the ) Tj ET Q q 0 0 0 rg BT 435.97 106.10 Td (income ) Tj ET Q q 0 0 0 rg BT 468.87 106.10 Td (approach ) Tj ET Q q 0 0 0 rg BT 508.98 106.10 Td (to ) Tj ET Q q 0 0 0 rg BT 520.22 106.10 Td (the ) Tj ET Q q 0 0 0 rg BT 535.90 106.10 Td (hybrid ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 94.10 Td (approach ) Tj ET Q q 0 0 0 rg BT 125.15 94.10 Td (owing ) Tj ET Q q 0 0 0 rg BT 152.65 94.10 Td (to ) Tj ET Q q 0 0 0 rg BT 162.92 94.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 197.63 94.10 Td (in ) Tj ET Q q 0 0 0 rg BT 207.91 94.10 Td (the ) Tj ET Q q 0 0 0 rg BT 222.63 94.10 Td (inputs ) Tj ET Q q 0 0 0 rg BT 249.57 94.10 Td (used ) Tj ET Q q 0 0 0 rg BT 270.40 94.10 Td (to ) Tj ET Q q 0 0 0 rg BT 280.68 94.10 Td (derive ) Tj ET Q q 0 0 0 rg BT 308.17 94.10 Td (value, ) Tj ET Q q 0 0 0 rg BT 334.82 94.10 Td (particularly ) Tj ET Q q 0 0 0 rg BT 383.41 94.10 Td (related ) Tj ET Q q 0 0 0 rg BT 413.11 94.10 Td (to ) Tj ET Q q 0 0 0 rg BT 423.39 94.10 Td (potential ) Tj ET Q q 0 0 0 rg BT 460.88 94.10 Td (paths ) Tj ET Q q 0 0 0 rg BT 484.49 94.10 Td (to ) Tj ET Q q 0 0 0 rg BT 494.77 94.10 Td (exit.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 82.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 82.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 82.10 Td (e ) Tj ET Q q 0 0 0 rg BT 102.38 82.10 Td (changed ) Tj ET Q q 0 0 0 rg BT 138.99 82.10 Td (the ) Tj ET Q q 0 0 0 rg BT 154.51 82.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 195.02 82.10 Td (methodology ) Tj ET Q q 0 0 0 rg BT 251.09 82.10 Td (of ) Tj ET Q q 0 0 0 rg BT 262.72 82.10 Td (our ) Tj ET Q q 0 0 0 rg BT 279.35 82.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 320.42 82.10 Td (of ) Tj ET Q q 0 0 0 rg BT 332.05 82.10 Td (HALE.life ) Tj ET Q q 0 0 0 rg BT 377.83 82.10 Td (Corporation ) Tj ET Q q 0 0 0 rg BT 429.46 82.10 Td (from ) Tj ET Q q 0 0 0 rg BT 452.19 82.10 Td (the ) Tj ET Q q 0 0 0 rg BT 467.71 82.10 Td (market ) Tj ET Q q 0 0 0 rg BT 498.77 82.10 Td (approach ) Tj ET Q q 0 0 0 rg BT 538.72 82.10 Td (to ) Tj ET Q q 0 0 0 rg BT 549.80 82.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 70.10 Td (income ) Tj ET Q q 0 0 0 rg BT 118.21 70.10 Td (approach ) Tj ET Q q 0 0 0 rg BT 157.64 70.10 Td (owing ) Tj ET Q q 0 0 0 rg BT 185.42 70.10 Td (to ) Tj ET Q q 0 0 0 rg BT 195.98 70.10 Td (the ) Tj ET Q q 0 0 0 rg BT 210.97 70.10 Td (completion ) Tj ET Q q 0 0 0 rg BT 258.74 70.10 Td (of ) Tj ET Q q 0 0 0 rg BT 269.85 70.10 Td (a ) Tj ET Q q 0 0 0 rg BT 277.07 70.10 Td (round ) Tj ET Q q 0 0 0 rg BT 303.18 70.10 Td (of ) Tj ET Q q 0 0 0 rg BT 314.29 70.10 Td (financing ) Tj ET Q q 0 0 0 rg BT 354.83 70.10 Td (that ) Tj ET Q q 0 0 0 rg BT 372.61 70.10 Td (included ) Tj ET Q q 0 0 0 rg BT 409.82 70.10 Td (conversion ) Tj ET Q q 0 0 0 rg BT 456.48 70.10 Td (of ) Tj ET Q q 0 0 0 rg BT 467.59 70.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 517.03 70.10 Td (convertible ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 58.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 105.72 58.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 145.98 58.10 Td (into ) Tj ET Q q 0 0 0 rg BT 164.04 58.10 Td (convertible ) Tj ET Q q 0 0 0 rg BT 211.52 58.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 250.65 58.10 Td (securities.) Tj ET Q endstream endobj 69 0 obj <> endobj 70 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (34) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 742.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 742.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 742.10 Td (e ) Tj ET Q q 0 0 0 rg BT 100.93 742.10 Td (changed ) Tj ET Q q 0 0 0 rg BT 136.10 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 150.16 742.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 189.23 742.10 Td (methodology ) Tj ET Q q 0 0 0 rg BT 243.85 742.10 Td (of ) Tj ET Q q 0 0 0 rg BT 254.04 742.10 Td (our ) Tj ET Q q 0 0 0 rg BT 269.22 742.10 Td (warrants ) Tj ET Q q 0 0 0 rg BT 305.50 742.10 Td (of ) Tj ET Q q 0 0 0 rg BT 315.68 742.10 Td (D-W) Tj ET Q q 0 0 0 rg BT 334.87 742.10 Td (ave ) Tj ET Q q 0 0 0 rg BT 350.60 742.10 Td (Systems, ) Tj ET Q q 0 0 0 rg BT 388.29 742.10 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 405.41 742.10 Td (from ) Tj ET Q q 0 0 0 rg BT 426.70 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 440.77 742.10 Td (market ) Tj ET Q q 0 0 0 rg BT 470.39 742.10 Td (approach ) Tj ET Q q 0 0 0 rg BT 508.88 742.10 Td (to ) Tj ET Q q 0 0 0 rg BT 518.52 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 532.58 742.10 Td (income ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 730.10 Td (approach ) Tj ET Q q 0 0 0 rg BT 125.15 730.10 Td (to ) Tj ET Q q 0 0 0 rg BT 135.42 730.10 Td (reflect ) Tj ET Q q 0 0 0 rg BT 163.46 730.10 Td (the ) Tj ET Q q 0 0 0 rg BT 178.17 730.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 207.88 730.10 Td (of ) Tj ET Q q 0 0 0 rg BT 218.71 730.10 Td (time ) Tj ET Q q 0 0 0 rg BT 238.99 730.10 Td (in ) Tj ET Q q 0 0 0 rg BT 249.27 730.10 Td (the ) Tj ET Q q 0 0 0 rg BT 263.98 730.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 303.70 730.10 Td (as ) Tj ET Q q 0 0 0 rg BT 314.53 730.10 Td (the ) Tj ET Q q 0 0 0 rg BT 329.24 730.10 Td (warrants ) Tj ET Q q 0 0 0 rg BT 366.17 730.10 Td (expire ) Tj ET Q q 0 0 0 rg BT 393.66 730.10 Td (in ) Tj ET Q q 0 0 0 rg BT 403.93 730.10 Td (May ) Tj ET Q q 0 0 0 rg BT 424.76 730.10 Td (2019.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 718.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 718.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 718.10 Td (e ) Tj ET Q q 0 0 0 rg BT 101.86 718.10 Td (changed ) Tj ET Q q 0 0 0 rg BT 137.96 718.10 Td (the ) Tj ET Q q 0 0 0 rg BT 152.96 718.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 192.95 718.10 Td (methodology ) Tj ET Q q 0 0 0 rg BT 248.50 718.10 Td (of ) Tj ET Q q 0 0 0 rg BT 259.62 718.10 Td (our ) Tj ET Q q 0 0 0 rg BT 275.73 718.10 Td (bridge ) Tj ET Q q 0 0 0 rg BT 304.06 718.10 Td (note ) Tj ET Q q 0 0 0 rg BT 324.06 718.10 Td (in ) Tj ET Q q 0 0 0 rg BT 334.62 718.10 Td (Fleet ) Tj ET Q q 0 0 0 rg BT 357.40 718.10 Td (Health ) Tj ET Q q 0 0 0 rg BT 386.22 718.10 Td (Alliance, ) Tj ET Q q 0 0 0 rg BT 425.37 718.10 Td (LLC ) Tj ET Q q 0 0 0 rg BT 447.04 718.10 Td (from ) Tj ET Q q 0 0 0 rg BT 469.26 718.10 Td (the ) Tj ET Q q 0 0 0 rg BT 484.26 718.10 Td (market ) Tj ET Q q 0 0 0 rg BT 514.81 718.10 Td (approach ) Tj ET Q q 0 0 0 rg BT 554.24 718.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 706.10 Td (the ) Tj ET Q q 0 0 0 rg BT 100.72 706.10 Td (income ) Tj ET Q q 0 0 0 rg BT 132.65 706.10 Td (approach ) Tj ET Q q 0 0 0 rg BT 171.80 706.10 Td (to ) Tj ET Q q 0 0 0 rg BT 182.07 706.10 Td (reflect ) Tj ET Q q 0 0 0 rg BT 210.11 706.10 Td (our ) Tj ET Q q 0 0 0 rg BT 225.94 706.10 Td (focus ) Tj ET Q q 0 0 0 rg BT 250.10 706.10 Td (on ) Tj ET Q q 0 0 0 rg BT 262.60 706.10 Td (repayment ) Tj ET Q q 0 0 0 rg BT 307.30 706.10 Td (versus ) Tj ET Q q 0 0 0 rg BT 335.35 706.10 Td (conversion ) Tj ET Q q 0 0 0 rg BT 381.73 706.10 Td (of ) Tj ET Q q 0 0 0 rg BT 392.56 706.10 Td (the ) Tj ET Q q 0 0 0 rg BT 407.27 706.10 Td (note.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 694.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 694.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 694.10 Td (e ) Tj ET Q q 0 0 0 rg BT 101.90 694.10 Td (changed ) Tj ET Q q 0 0 0 rg BT 138.04 694.10 Td (the ) Tj ET Q q 0 0 0 rg BT 153.09 694.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 193.13 694.10 Td (methodology ) Tj ET Q q 0 0 0 rg BT 248.72 694.10 Td (of ) Tj ET Q q 0 0 0 rg BT 259.88 694.10 Td (our ) Tj ET Q q 0 0 0 rg BT 276.04 694.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 316.63 694.10 Td (of ) Tj ET Q q 0 0 0 rg BT 327.78 694.10 Td (Black ) Tj ET Q q 0 0 0 rg BT 353.93 694.10 Td (Silicon ) Tj ET Q q 0 0 0 rg BT 385.10 694.10 Td (Holdings, ) Tj ET Q q 0 0 0 rg BT 427.09 694.10 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 445.19 694.10 Td (from ) Tj ET Q q 0 0 0 rg BT 467.45 694.10 Td (the ) Tj ET Q q 0 0 0 rg BT 482.49 694.10 Td (income ) Tj ET Q q 0 0 0 rg BT 514.75 694.10 Td (approach ) Tj ET Q q 0 0 0 rg BT 554.23 694.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 682.10 Td (the ) Tj ET Q q 0 0 0 rg BT 100.72 682.10 Td (market ) Tj ET Q q 0 0 0 rg BT 130.98 682.10 Td (approach ) Tj ET Q q 0 0 0 rg BT 170.13 682.10 Td (based ) Tj ET Q q 0 0 0 rg BT 195.39 682.10 Td (on ) Tj ET Q q 0 0 0 rg BT 207.89 682.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 242.60 682.10 Td (in ) Tj ET Q q 0 0 0 rg BT 252.88 682.10 Td (the ) Tj ET Q q 0 0 0 rg BT 267.60 682.10 Td (inputs ) Tj ET Q q 0 0 0 rg BT 294.54 682.10 Td (used ) Tj ET Q q 0 0 0 rg BT 315.38 682.10 Td (to ) Tj ET Q q 0 0 0 rg BT 325.65 682.10 Td (derive ) Tj ET Q q 0 0 0 rg BT 353.14 682.10 Td (value. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 658.10 Td (The ) Tj ET Q q 0 0 0 rg BT 104.39 658.10 Td (following ) Tj ET Q q 0 0 0 rg BT 146.11 658.10 Td (chart ) Tj ET Q q 0 0 0 rg BT 168.94 658.10 Td (shows ) Tj ET Q q 0 0 0 rg BT 196.78 658.10 Td (the ) Tj ET Q q 0 0 0 rg BT 211.84 658.10 Td (components ) Tj ET Q q 0 0 0 rg BT 263.00 658.10 Td (of ) Tj ET Q q 0 0 0 rg BT 274.17 658.10 Td (change ) Tj ET Q q 0 0 0 rg BT 305.33 658.10 Td (in ) Tj ET Q q 0 0 0 rg BT 315.94 658.10 Td (the ) Tj ET Q q 0 0 0 rg BT 331.00 658.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 368.82 658.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 394.99 658.10 Td (categorized ) Tj ET Q q 0 0 0 rg BT 443.91 658.10 Td (as ) Tj ET Q q 0 0 0 rg BT 455.08 658.10 Td (Level ) Tj ET Q q 0 0 0 rg BT 480.68 658.10 Td (3 ) Tj ET Q q 0 0 0 rg BT 488.52 658.10 Td (for ) Tj ET Q q 0 0 0 rg BT 503.02 658.10 Td (the ) Tj ET Q q 0 0 0 rg BT 518.08 658.10 Td (year ) Tj ET Q q 0 0 0 rg BT 538.12 658.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 108.58 646.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.58 646.10 Td (.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 543.60 66.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 116.50 543.60 47.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 163.50 543.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 167.50 543.60 43.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 210.50 543.60 10.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.50 543.60 44.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.50 543.60 9.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 273.50 543.60 51.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.50 543.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.50 543.60 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 543.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.50 543.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 543.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.50 543.60 47.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 543.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 543.60 75.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 524.60 66.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 116.50 524.60 47.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 163.50 524.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 167.50 524.60 43.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 210.50 524.60 10.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.50 524.60 44.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.50 524.60 9.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 273.50 524.60 51.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.50 524.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.50 524.60 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 524.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.50 524.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 524.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.50 524.60 47.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 524.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 524.60 75.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 505.60 66.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 116.50 505.60 47.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 163.50 505.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 167.50 505.60 43.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 210.50 505.60 10.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.50 505.60 44.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.50 505.60 9.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 273.50 505.60 51.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.50 505.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.50 505.60 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 505.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.50 505.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 505.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.50 505.60 47.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 505.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 505.60 75.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 486.60 66.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 116.50 486.60 47.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 163.50 486.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 167.50 486.60 43.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 210.50 486.60 10.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.50 486.60 44.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.50 486.60 9.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 273.50 486.60 51.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.50 486.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.50 486.60 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 486.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.50 486.60 46.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 486.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.50 486.60 47.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 486.60 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.50 486.60 75.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 467.60 66.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 116.50 467.60 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ET q 0 0 0 rg BT 290.80 599.66 Td (T) Tj ET Q q 0 0 0 rg BT 294.83 599.66 Td (otal) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 281.35 592.66 Td (Unr) Tj ET Q q 0 0 0 rg BT 295.03 592.66 Td (ealized) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 278.90 585.66 Td (Appr) Tj ET Q q 0 0 0 rg BT 294.72 585.66 Td (eciation ) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 276.95 578.66 Td (\(Depr) Tj ET Q q 0 0 0 rg BT 294.32 578.66 Td (eciation\)) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 281.45 571.66 Td (Includedin) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 281.85 564.66 Td (Changesin) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 282.35 557.66 Td (Net) Tj ET Q q 0 0 0 rg BT 295.96 557.66 Td (Assets) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 331.10 613.66 Td (Investmentsin) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 339.75 606.66 Td (Portfolio) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 335.40 599.66 Td (Companies,) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 336.80 592.66 Td (Inter) Tj ET Q q 0 0 0 rg BT 351.90 592.66 Td 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516.72 620.66 Td (eciation) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 488.15 613.66 Td (\(Depr) Tj ET Q q 0 0 0 rg BT 505.52 613.66 Td (eciation\) for) Tj ET Q q 0 0 0 rg BT 541.74 613.66 Td (the) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 496.05 606.66 Td (year) Tj ET Q q 0 0 0 rg BT 509.14 606.66 Td (Includedin) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 497.70 599.66 Td (ChangesinNet) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 491.80 592.66 Td (Assets) Tj ET Q q 0 0 0 rg BT 511.83 592.66 Td (Attributable) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 495.90 585.66 Td (totheChangein) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 490.45 578.66 Td (Unr) Tj ET Q q 0 0 0 rg BT 502.38 578.66 Td (ealizedGainsor) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 493.45 571.66 Td (LossesRelatingto) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 492.40 564.66 Td (AssetsStillHeldat) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 491.90 557.66 Td (theReportingDate) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 53.00 535.65 Td (Preferred Stock) Tj 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(\(6,583,468) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 425.65 535.65 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 435.00 535.65 Td ($) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 445.10 535.65 Td (45,226,020) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 486.00 535.65 Td ($) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 527.65 535.65 Td (2,605,454) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 53.00 516.65 Td (Bridge Notes) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 132.65 516.65 Td (3,384,394) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 186.05 516.65 Td (\(27,857) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 207.65 516.65 Td (\)) Tj ET Q BT /F2 5.20 Tf ET q 0 0 0 rg BT 213.70 520.94 Td (1) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 231.30 516.65 Td (\(2,336,501) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 261.65 516.65 Td (\)) Tj ET Q BT /F2 5.20 Tf ET q 0 0 0 rg BT 267.20 520.94 Td (3) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 296.55 516.70 Td (\(541,706) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 321.65 516.65 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 347.65 516.65 Td (1,124,950) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 400.55 516.70 Td (\(182,000) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 425.65 516.65 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 448.65 516.65 Td (1,421,280) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 534.05 516.70 Td (\(80,472) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 555.65 516.65 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 53.00 497.65 Td (Common Stock) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 132.65 497.65 Td (6,208,189) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 177.30 497.65 Td (\(2,885,482) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 207.65 497.65 Td (\)) Tj ET Q BT /F2 5.20 Tf ET q 0 0 0 rg BT 213.70 501.94 Td (1) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 231.30 497.65 Td (\(4,937,423) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 261.65 497.65 Td (\)) Tj ET Q BT /F2 5.20 Tf ET q 0 0 0 rg BT 267.20 501.94 Td (4) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 293.65 497.65 Td (3,059,681) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 372.15 497.65 Td (0) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 400.55 497.70 Td (\(51) Tj ET Q q 0 0 0 rg BT 409.88 497.70 Td (1,002) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 425.65 497.65 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 453.90 497.65 Td (933,963) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 532.90 497.65 Td (329,864) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 53.00 478.65 Td (W) Tj ET Q q 0 0 0 rg BT 59.33 478.65 Td (arrants) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 137.90 478.65 Td (1) Tj ET Q q 0 0 0 rg BT 141.40 478.65 Td (10,665) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 188.40 478.65 Td (13,637) Tj ET Q BT /F2 5.20 Tf ET q 0 0 0 rg BT 213.70 482.94 Td (2) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 258.15 478.65 Td (0) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 300.05 478.70 Td (\(28,356) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 321.65 478.65 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 372.15 478.65 Td (0) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 404.05 478.70 Td (\(63,857) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 425.65 478.65 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 457.40 478.65 Td (32,089) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 534.05 478.70 Td (\(44,512) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 555.65 478.65 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 53.00 459.65 Td (Senior Secured Debt) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 137.90 459.65 Td (357,407) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 204.15 459.65 Td (0) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 258.15 459.65 Td (0) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 296.55 459.70 Td (\(463,227) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 321.65 459.65 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 352.90 459.65 Td (182,683) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 422.15 459.65 Td (0) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 457.40 459.65 Td (76,863) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 530.55 459.70 Td (\(463,227) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 555.65 459.65 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 53.00 440.65 Td (LLC Interests) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 157.15 440.65 Td (0) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 204.15 440.65 Td (0) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 258.15 440.65 Td (0) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 298.90 440.65 Td (150,000) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 372.15 440.65 Td (0) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 422.15 440.65 Td (0) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 453.90 440.65 Td (150,000) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 532.90 440.65 Td (150,000) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 53.00 421.65 Td (Restricted Stock) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 53.00 414.65 Td (Units & Stock) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 53.00 407.65 Td (Options) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 141.40 407.65 Td (43,476) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 204.15 407.65 Td (0) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 240.05 407.65 Td (\(43,476) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 261.65 407.65 Td (\)) Tj ET Q BT /F2 5.20 Tf ET q 0 0 0 rg BT 267.20 411.94 Td (5) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 302.40 407.65 Td (69,163) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 372.15 407.65 Td (0) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 422.15 407.65 Td (0) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 457.40 407.65 Td (69,163) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 536.40 407.65 Td (69,163) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 53.00 388.65 Td (Rights to Payments) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 132.65 388.65 Td (2,21) Tj ET Q q 0 0 0 rg BT 144.90 388.65 Td (1,867) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 204.15 388.65 Td (0) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 258.15 388.65 Td (0) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 296.55 388.70 Td (\(192,584) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 321.65 388.65 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 372.15 388.65 Td (0) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 422.15 388.65 Td (0) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 448.65 388.65 Td (2,019,283) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 530.55 388.70 Td (\(192,584) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 555.65 388.65 Td (\)) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 53.00 357.66 Td (T) Tj ET Q q 0 0 0 rg BT 57.03 357.66 Td (otal) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 119.00 357.66 Td ($) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 129.10 357.66 Td (59,926,693) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 170.00 357.66 Td ($) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 173.80 357.66 Td (\(14,474,098) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 207.65 357.66 Td (\)) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 223.00 357.66 Td ($) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 231.30 357.66 Td (\(4,980,899) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 261.65 357.66 Td (\)) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 276.00 357.66 Td ($) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 290.15 357.66 Td (14,207,235) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 331.00 357.66 Td ($) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 347.65 357.66 Td (2,590,057) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 385.00 357.66 Td ($) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 395.30 357.71 Td (\(7,340,327) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 425.65 357.66 Td (\)) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 435.00 357.66 Td ($) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 445.10 357.66 Td (49,928,661) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 486.00 357.66 Td ($) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 527.65 357.66 Td (2,373,686) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 330.10 Td () Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 86.00 322.63 Td (1 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.87 318.10 Td (Represents ) Tj ET Q q 0 0 0 rg BT 137.25 318.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 160.86 318.10 Td (realized ) Tj ET Q q 0 0 0 rg BT 195.01 318.10 Td (losses.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 86.00 307.63 Td (2 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.87 303.10 Td (Represents ) Tj ET Q q 0 0 0 rg BT 137.25 303.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 160.86 303.10 Td (realized ) Tj ET Q q 0 0 0 rg BT 195.01 303.10 Td (gains ) Tj ET Q q 0 0 0 rg BT 218.61 303.10 Td (of ) Tj ET Q q 0 0 0 rg BT 229.44 303.10 Td ($40,600, ) Tj ET Q q 0 0 0 rg BT 266.94 303.10 Td (net ) Tj ET Q q 0 0 0 rg BT 281.66 303.10 Td (of ) Tj ET Q q 0 0 0 rg BT 292.49 303.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 316.10 303.10 Td (realized ) Tj ET Q q 0 0 0 rg BT 350.24 303.10 Td (losses ) Tj ET Q q 0 0 0 rg BT 376.64 303.10 Td (of ) Tj ET Q q 0 0 0 rg BT 387.47 303.10 Td ($26,963.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 86.00 292.63 Td (3 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.87 288.10 Td (The ) Tj ET Q q 0 0 0 rg BT 108.92 288.10 Td (transfer ) Tj ET Q q 0 0 0 rg BT 141.96 288.10 Td (out ) Tj ET Q q 0 0 0 rg BT 157.24 288.10 Td (of ) Tj ET Q q 0 0 0 rg BT 168.07 288.10 Td ("Bridge ) Tj ET Q q 0 0 0 rg BT 201.87 288.10 Td (Note" ) Tj ET Q q 0 0 0 rg BT 227.89 288.10 Td (to ) Tj ET Q q 0 0 0 rg BT 238.16 288.10 Td ("Preferred ) Tj ET Q q 0 0 0 rg BT 281.94 288.10 Td (Stock" ) Tj ET Q q 0 0 0 rg BT 311.30 288.10 Td (was ) Tj ET Q q 0 0 0 rg BT 329.36 288.10 Td (owing ) Tj ET Q q 0 0 0 rg BT 356.86 288.10 Td (conversions.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 86.00 277.63 Td (4 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.50 273.10 Td (The ) Tj ET Q q 0 0 0 rg BT 107.97 273.10 Td (transfer ) Tj ET Q q 0 0 0 rg BT 140.43 273.10 Td (out ) Tj ET Q q 0 0 0 rg BT 155.13 273.10 Td (of ) Tj ET Q q 0 0 0 rg BT 165.38 273.10 Td ("Common ) Tj ET Q q 0 0 0 rg BT 208.61 273.10 Td (Stock" ) Tj ET Q q 0 0 0 rg BT 237.40 273.10 Td (Level ) Tj ET Q q 0 0 0 rg BT 262.08 273.10 Td (3 ) Tj ET Q q 0 0 0 rg BT 269.01 273.10 Td (to ) Tj ET Q q 0 0 0 rg BT 278.71 273.10 Td (Level ) Tj ET Q q 0 0 0 rg BT 303.39 273.10 Td (1 ) Tj ET Q q 0 0 0 rg BT 310.32 273.10 Td (was ) Tj ET Q q 0 0 0 rg BT 327.79 273.10 Td (owing ) Tj ET Q q 0 0 0 rg BT 354.71 273.10 Td (to ) Tj ET Q q 0 0 0 rg BT 364.42 273.10 Td (the ) Tj ET Q q 0 0 0 rg BT 378.56 273.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 425.06 273.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 451.97 273.10 Td (of ) Tj ET Q q 0 0 0 rg BT 462.09 273.10 Td (TheStreet, ) Tj ET Q q 0 0 0 rg BT 505.38 273.10 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 522.57 273.10 Td (becoming ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 261.10 Td (freely ) Tj ET Q q 0 0 0 rg BT 111.82 261.10 Td (tradable ) Tj ET Q q 0 0 0 rg BT 146.52 261.10 Td (following ) Tj ET Q q 0 0 0 rg BT 187.90 261.10 Td (registration ) Tj ET Q q 0 0 0 rg BT 235.95 261.10 Td (of ) Tj ET Q q 0 0 0 rg BT 246.78 261.10 Td (these ) Tj ET Q q 0 0 0 rg BT 269.82 261.10 Td (shares.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 86.00 250.63 Td (5 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.59 246.10 Td (The ) Tj ET Q q 0 0 0 rg BT 108.20 246.10 Td (transfer ) Tj ET Q q 0 0 0 rg BT 140.80 246.10 Td (out ) Tj ET Q q 0 0 0 rg BT 155.65 246.10 Td (of ) Tj ET Q q 0 0 0 rg BT 166.04 246.10 Td ("Restricted ) Tj ET Q q 0 0 0 rg BT 212.73 246.10 Td (Stock ) Tj ET Q q 0 0 0 rg BT 237.57 246.10 Td (Units" ) Tj ET Q q 0 0 0 rg BT 265.39 246.10 Td (Level ) Tj ET Q q 0 0 0 rg BT 290.22 246.10 Td (3 ) Tj ET Q q 0 0 0 rg BT 297.28 246.10 Td (to ) Tj ET Q q 0 0 0 rg BT 307.12 246.10 Td (Level ) Tj ET Q q 0 0 0 rg BT 331.95 246.10 Td (1 ) Tj ET Q q 0 0 0 rg BT 339.02 246.10 Td (was ) Tj ET Q q 0 0 0 rg BT 356.63 246.10 Td (owing ) Tj ET Q q 0 0 0 rg BT 383.70 246.10 Td (to ) Tj ET Q q 0 0 0 rg BT 393.54 246.10 Td (vesting ) Tj ET Q q 0 0 0 rg BT 424.49 246.10 Td (of ) Tj ET Q q 0 0 0 rg BT 434.89 246.10 Td (Restricted ) Tj ET Q q 0 0 0 rg BT 477.49 246.10 Td (Stock ) Tj ET Q q 0 0 0 rg BT 502.34 246.10 Td (Units ) Tj ET Q q 0 0 0 rg BT 526.07 246.10 Td (and ) Tj ET Q q 0 0 0 rg BT 542.57 246.10 Td (units ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 234.10 Td (being ) Tj ET Q q 0 0 0 rg BT 110.72 234.10 Td (converted ) Tj ET Q q 0 0 0 rg BT 152.64 234.10 Td (to ) Tj ET Q q 0 0 0 rg BT 162.92 234.10 Td (public ) Tj ET Q q 0 0 0 rg BT 190.41 234.10 Td (Common ) Tj ET Q q 0 0 0 rg BT 230.14 234.10 Td (Stock ) Tj ET Q q 0 0 0 rg BT 255.42 234.10 Td (of ) Tj ET Q q 0 0 0 rg BT 266.07 234.10 Td (TheStreet, ) Tj ET Q q 0 0 0 rg BT 309.94 234.10 Td (Inc. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 45.50 204.10 Td ( ) Tj ET Q q 0 0 0 rg BT 50.00 204.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 204.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 204.10 Td (e ) Tj ET Q q 0 0 0 rg BT 102.15 204.10 Td (elected ) Tj ET Q q 0 0 0 rg BT 133.53 204.10 Td (to ) Tj ET Q q 0 0 0 rg BT 144.38 204.10 Td (use ) Tj ET Q q 0 0 0 rg BT 160.78 204.10 Td (beginning ) Tj ET Q q 0 0 0 rg BT 203.84 204.10 Td (of ) Tj ET Q q 0 0 0 rg BT 215.24 204.10 Td (the ) Tj ET Q q 0 0 0 rg BT 230.53 204.10 Td (year ) Tj ET Q q 0 0 0 rg BT 250.81 204.10 Td (values ) Tj ET Q q 0 0 0 rg BT 279.42 204.10 Td (to ) Tj ET Q q 0 0 0 rg BT 290.27 204.10 Td (recognize ) Tj ET Q q 0 0 0 rg BT 332.20 204.10 Td (transfers ) Tj ET Q q 0 0 0 rg BT 369.70 204.10 Td (in ) Tj ET Q q 0 0 0 rg BT 380.55 204.10 Td (and ) Tj ET Q q 0 0 0 rg BT 398.06 204.10 Td (out ) Tj ET Q q 0 0 0 rg BT 413.91 204.10 Td (of ) Tj ET Q q 0 0 0 rg BT 425.31 204.10 Td (Level ) Tj ET Q q 0 0 0 rg BT 451.14 204.10 Td (3 ) Tj ET Q q 0 0 0 rg BT 459.21 204.10 Td (investments. ) Tj ET Q q 0 0 0 rg BT 512.56 204.10 Td (For ) Tj ET Q q 0 0 0 rg BT 529.52 204.10 Td (the ) Tj ET Q q 0 0 0 rg BT 544.81 204.10 Td (year ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 192.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.36 192.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 132.93 192.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 152.93 192.10 Td (, ) Tj ET Q q 0 0 0 rg BT 156.91 192.10 Td (there ) Tj ET Q q 0 0 0 rg BT 178.38 192.10 Td (were ) Tj ET Q q 0 0 0 rg BT 199.29 192.10 Td (transfers ) Tj ET Q q 0 0 0 rg BT 235.20 192.10 Td (out ) Tj ET Q q 0 0 0 rg BT 249.47 192.10 Td (of ) Tj ET Q q 0 0 0 rg BT 259.28 192.10 Td (Level ) Tj ET Q q 0 0 0 rg BT 283.53 192.10 Td (3 ) Tj ET Q q 0 0 0 rg BT 290.01 192.10 Td (investments ) Tj ET Q q 0 0 0 rg BT 339.27 192.10 Td (totaling ) Tj ET Q q 0 0 0 rg BT 371.30 192.10 Td ($4,937,423. ) Tj ET Q q 0 0 0 rg BT 420.29 192.10 Td ( ) Tj ET Q q 0 0 0 rg BT 421.44 192.10 Td (A) Tj ET Q q 0 0 0 rg BT 428.11 192.10 Td ( ) Tj ET Q q 0 0 0 rg BT 429.59 192.10 Td (total ) Tj ET Q q 0 0 0 rg BT 448.85 192.10 Td (of ) Tj ET Q q 0 0 0 rg BT 458.66 192.10 Td (3,636,363 ) Tj ET Q q 0 0 0 rg BT 500.15 192.10 Td (of ) Tj ET Q q 0 0 0 rg BT 509.96 192.10 Td (our ) Tj ET Q q 0 0 0 rg BT 524.77 192.10 Td (Common ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 180.10 Td (Stock ) Tj ET Q q 0 0 0 rg BT 74.85 180.10 Td (of ) Tj ET Q q 0 0 0 rg BT 85.10 180.10 Td (TheStreet, ) Tj ET Q q 0 0 0 rg BT 128.55 180.10 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 148.39 180.10 Td (transferred ) Tj ET Q q 0 0 0 rg BT 193.77 180.10 Td (from ) Tj ET Q q 0 0 0 rg BT 215.28 180.10 Td (Level ) Tj ET Q q 0 0 0 rg BT 240.12 180.10 Td (3 ) Tj ET Q q 0 0 0 rg BT 247.19 180.10 Td (investments ) Tj ET Q q 0 0 0 rg BT 297.04 180.10 Td (to ) Tj ET Q q 0 0 0 rg BT 306.89 180.10 Td (Level ) Tj ET Q q 0 0 0 rg BT 331.72 180.10 Td (1 ) Tj ET Q q 0 0 0 rg BT 338.80 180.10 Td (investments ) Tj ET Q q 0 0 0 rg BT 388.64 180.10 Td (owing ) Tj ET Q q 0 0 0 rg BT 415.71 180.10 Td (to ) Tj ET Q q 0 0 0 rg BT 425.57 180.10 Td (the ) Tj ET Q q 0 0 0 rg BT 439.85 180.10 Td (use ) Tj ET Q q 0 0 0 rg BT 455.26 180.10 Td (of ) Tj ET Q q 0 0 0 rg BT 465.66 180.10 Td (unadjusted ) Tj ET Q q 0 0 0 rg BT 511.06 180.10 Td (closing ) Tj ET Q q 0 0 0 rg BT 542.02 180.10 Td (price ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 168.10 Td (on ) Tj ET Q q 0 0 0 rg BT 63.56 168.10 Td (its ) Tj ET Q q 0 0 0 rg BT 76.57 168.10 Td (respective ) Tj ET Q q 0 0 0 rg BT 120.67 168.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 145.34 168.10 Td (exchange ) Tj ET Q q 0 0 0 rg BT 186.65 168.10 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.21 168.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 259.86 168.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.86 168.10 Td (. ) Tj ET Q q 0 0 0 rg BT 285.92 168.10 Td ( ) Tj ET Q q 0 0 0 rg BT 288.70 168.10 Td (A) Tj ET Q q 0 0 0 rg BT 295.37 168.10 Td ( ) Tj ET Q q 0 0 0 rg BT 298.93 168.10 Td (total ) Tj ET Q q 0 0 0 rg BT 320.27 168.10 Td (of ) Tj ET Q q 0 0 0 rg BT 332.16 168.10 Td (32,189 ) Tj ET Q q 0 0 0 rg BT 363.22 168.10 Td (of ) Tj ET Q q 0 0 0 rg BT 375.11 168.10 Td (our ) Tj ET Q q 0 0 0 rg BT 392.00 168.10 Td (Restricted ) Tj ET Q q 0 0 0 rg BT 436.11 168.10 Td (Stock ) Tj ET Q q 0 0 0 rg BT 462.45 168.10 Td (Units ) Tj ET Q q 0 0 0 rg BT 487.68 168.10 Td (of ) Tj ET Q q 0 0 0 rg BT 499.32 168.10 Td (TheStreet, ) Tj ET Q q 0 0 0 rg BT 544.25 168.10 Td (Inc., ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 156.10 Td (transferred ) Tj ET Q q 0 0 0 rg BT 95.81 156.10 Td (from ) Tj ET Q q 0 0 0 rg BT 117.74 156.10 Td (Level ) Tj ET Q q 0 0 0 rg BT 143.01 156.10 Td (3 ) Tj ET Q q 0 0 0 rg BT 150.51 156.10 Td (investments ) Tj ET Q q 0 0 0 rg BT 200.78 156.10 Td (to ) Tj ET Q q 0 0 0 rg BT 211.06 156.10 Td (Level ) Tj ET Q q 0 0 0 rg BT 236.32 156.10 Td (1 ) Tj ET Q q 0 0 0 rg BT 243.82 156.10 Td (investments ) Tj ET Q q 0 0 0 rg BT 294.10 156.10 Td (owing ) Tj ET Q q 0 0 0 rg BT 321.60 156.10 Td (to ) Tj ET Q q 0 0 0 rg BT 331.88 156.10 Td (vesting ) Tj ET Q q 0 0 0 rg BT 363.26 156.10 Td (and ) Tj ET Q q 0 0 0 rg BT 380.20 156.10 Td (conversion ) Tj ET Q q 0 0 0 rg BT 426.58 156.10 Td (to ) Tj ET Q q 0 0 0 rg BT 436.86 156.10 Td (public ) Tj ET Q q 0 0 0 rg BT 464.35 156.10 Td (Common ) Tj ET Q q 0 0 0 rg BT 504.08 156.10 Td (Stock.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 141.10 Td ( ) Tj ET Q endstream endobj 71 0 obj <> endobj 72 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 38.10 Td (35) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 49.5 734.18505859375 m 235.291015625 734.18505859375 l s q 0 0 0 rg BT 49.50 735.75 Td (NOTE 5. INDUSTR) Tj ET Q q 0 0 0 rg BT 135.00 735.75 Td (Y) Tj ET Q q 0 0 0 rg BT 141.85 735.75 Td ( DIVERSIFICA) Tj ET Q q 0 0 0 rg BT 209.73 735.75 Td (TION) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 711.75 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 711.75 Td (The following table shows the percentage of our net assets invested by industry as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.36 711.75 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.94 711.75 Td (.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 55.00 667.25 202.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 257.00 667.25 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 331.00 667.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 335.00 667.25 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.00 667.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 667.25 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.00 667.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.00 667.25 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 55.00 652.25 202.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 257.00 652.25 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 331.00 652.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 335.00 652.25 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.00 652.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 652.25 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.00 652.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.00 652.25 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 55.00 637.25 202.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 257.00 637.25 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 331.00 637.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 335.00 637.25 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.00 637.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 637.25 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.00 637.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.00 637.25 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 55.00 622.25 202.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 257.00 622.25 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 331.00 622.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 335.00 622.25 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.00 622.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 622.25 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.00 622.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.00 622.25 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 55.00 547.25 202.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 257.00 547.25 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 331.00 547.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 335.00 547.25 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.00 547.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 547.25 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.00 547.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.00 547.25 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 55.00 532.25 202.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 257.00 532.25 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 331.00 532.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 335.00 532.25 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.00 532.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 532.25 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.00 532.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.00 532.25 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 55.00 517.25 202.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 257.00 517.25 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 331.00 517.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 335.00 517.25 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.00 517.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 517.25 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.00 517.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.00 517.25 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 55.00 502.25 202.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 257.00 502.25 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 331.00 502.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 335.00 502.25 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.00 502.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 502.25 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.00 502.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.00 502.25 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 55.00 427.25 202.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 257.00 427.25 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 331.00 427.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 335.00 427.25 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.00 427.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 427.25 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.00 427.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.00 427.25 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 55.00 412.25 202.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 257.00 412.25 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 331.00 412.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 335.00 412.25 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.00 412.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 412.25 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.00 412.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.00 412.25 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 55.00 397.25 202.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 257.00 397.25 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 331.00 397.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 335.00 397.25 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.00 397.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 397.25 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.00 397.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.00 397.25 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 55.00 382.25 202.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 257.00 382.25 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 331.00 382.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 335.00 382.25 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.00 382.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 382.25 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.00 382.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.00 382.25 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 55.00 307.25 202.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 257.00 307.25 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 331.00 307.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 335.00 307.25 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.00 307.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 307.25 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.00 307.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.00 307.25 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 55.00 292.25 202.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 257.00 292.25 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 331.00 292.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 335.00 292.25 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.00 292.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 292.25 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.00 292.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.00 292.25 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 55.00 277.25 202.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 257.00 277.25 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 331.00 277.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 335.00 277.25 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.00 277.25 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 277.25 73.00 -15.00 re f /GS0 gs 0.8 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[] 0 d 0 J 0 j 3 M 55 56.75 m 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 257 56.75 m 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 335 56.75 m 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 56.75 m 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486 56.75 m BT /F2 10.00 Tf ET q 0 0 0 rg BT 136.85 681.98 Td (Industry) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 270.30 691.98 Td (V) Tj ET Q q 0 0 0 rg BT 277.06 691.98 Td (alue as of) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 264.40 681.98 Td (December) Tj ET Q q 0 0 0 rg BT 307.62 681.98 Td ( 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 283.50 671.98 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.30 686.98 Td (% of Net) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 356.15 676.98 Td (Assets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.80 691.98 Td (V) Tj ET Q q 0 0 0 rg BT 428.56 691.98 Td (alue as of) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.90 681.98 Td (December) Tj ET Q q 0 0 0 rg BT 459.12 681.98 Td ( 31,) Tj ET Q BT /F2 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Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.15 591.67 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.05 591.67 Td (0.0%) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 57.50 583.60 65.53 -9.09 re f /GS0 gs q 0 0 0 rg BT 57.50 576.67 Td (Pharmaceuticals) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.15 576.67 Td (3,065,919) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.05 576.67 Td (3.8%) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 568.60 133.68 -9.09 re f /GS0 gs q 0 0 0 rg BT 63.50 561.67 Td (Unaf) Tj ET Q q 0 0 0 rg BT 83.31 561.67 Td (filiated Portfolio Companies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.15 561.67 Td (2,264,676) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.05 561.67 Td (2.8%) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 553.60 189.52 -9.09 re f /GS0 gs q 0 0 0 rg BT 63.50 546.67 Td (Non-Controlled ) Tj ET Q q 0 0 0 rg BT 128.77 546.67 Td (Af) Tj ET Q q 0 0 0 rg BT 139.14 546.67 Td (filiated Portfolio Companies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.65 546.67 Td (801,243) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.05 546.67 Td (1.0%) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 538.60 168.96 -9.09 re f /GS0 gs q 0 0 0 rg BT 63.50 531.67 Td (Controlled ) Tj ET Q q 0 0 0 rg BT 108.22 531.67 Td (Af) Tj ET Q q 0 0 0 rg BT 118.59 531.67 Td (filiated Portfolio Companies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.15 531.67 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.05 531.67 Td (0.0%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 516.67 Td (Research & Consulting Services) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.65 516.67 Td (722,064) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.05 516.67 Td (0.9%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 501.67 Td (Unaf) Tj ET Q q 0 0 0 rg BT 83.40 501.67 Td (filiated Portfolio Companies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.65 501.67 Td (432,756) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.05 501.67 Td (0.5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 486.67 Td (Non-Controlled ) Tj ET Q q 0 0 0 rg BT 129.05 486.67 Td (Af) Tj ET Q q 0 0 0 rg BT 139.23 486.67 Td (filiated Portfolio Companies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.65 486.67 Td (289,308) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.05 486.67 Td (0.4%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 471.67 Td (Controlled ) Tj ET Q q 0 0 0 rg BT 108.50 471.67 Td (Af) Tj ET Q q 0 0 0 rg BT 118.68 471.67 Td (filiated Portfolio Companies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.15 471.67 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.05 471.67 Td (0.0%) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 57.50 463.60 64.43 -9.09 re f /GS0 gs q 0 0 0 rg BT 57.50 456.67 Td (Semiconductors) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.15 456.67 Td (6,815,403) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.05 456.67 Td (8.3%) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 448.60 133.68 -9.09 re f /GS0 gs q 0 0 0 rg BT 63.50 441.67 Td (Unaf) Tj ET Q q 0 0 0 rg BT 83.31 441.67 Td (filiated Portfolio Companies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.15 441.67 Td (6,339,216) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.05 441.67 Td (7.7%) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 433.60 189.52 -9.09 re f /GS0 gs q 0 0 0 rg BT 63.50 426.67 Td (Non-Controlled ) Tj ET Q q 0 0 0 rg BT 128.77 426.67 Td (Af) Tj ET Q q 0 0 0 rg BT 139.14 426.67 Td (filiated Portfolio Companies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.15 426.67 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.05 426.67 Td (0.0%) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 418.60 168.96 -9.09 re f /GS0 gs q 0 0 0 rg BT 63.50 411.67 Td (Controlled ) Tj ET Q q 0 0 0 rg BT 108.22 411.67 Td (Af) Tj ET Q q 0 0 0 rg BT 118.59 411.67 Td (filiated Portfolio Companies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.65 411.67 Td (476,187) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.05 411.67 Td (0.6%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 396.67 Td (Specialty Chemicals) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.15 396.67 Td (3,956,817) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.05 396.67 Td (4.8%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 381.67 Td (Unaf) Tj ET Q q 0 0 0 rg BT 83.40 381.67 Td (filiated Portfolio Companies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.15 381.67 Td (3,502,257) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.05 381.67 Td (4.3%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 366.67 Td (Non-Controlled ) Tj ET Q q 0 0 0 rg BT 129.05 366.67 Td (Af) Tj ET Q q 0 0 0 rg BT 139.23 366.67 Td (filiated Portfolio Companies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.65 366.67 Td (454,560) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.05 366.67 Td (0.5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 351.67 Td (Controlled ) Tj ET Q q 0 0 0 rg BT 108.22 351.67 Td (Af) Tj ET Q q 0 0 0 rg BT 118.59 351.67 Td (filiated Portfolio Companies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.15 351.67 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.05 351.67 Td (0.0%) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 57.50 343.60 182.29 -9.09 re f /GS0 gs q 0 0 0 rg BT 57.50 336.67 Td (T) Tj ET Q q 0 0 0 rg BT 62.91 336.67 Td (echnology Hardware, Storage & Peripherals) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.15 336.67 Td (9,447,107) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.55 336.67 Td (1) Tj ET Q q 0 0 0 rg BT 512.55 336.67 Td (1.5%) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 328.60 133.68 -9.09 re f /GS0 gs q 0 0 0 rg BT 63.50 321.67 Td (Unaf) Tj ET Q q 0 0 0 rg BT 83.31 321.67 Td (filiated Portfolio Companies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.15 321.67 Td (9,447,107) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.55 321.67 Td (1) Tj ET Q q 0 0 0 rg BT 361.55 321.67 Td (1.5%) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 313.60 189.52 -9.09 re f /GS0 gs q 0 0 0 rg BT 63.50 306.67 Td (Non-Controlled ) Tj ET Q q 0 0 0 rg BT 128.77 306.67 Td (Af) Tj ET Q q 0 0 0 rg BT 139.14 306.67 Td (filiated Portfolio Companies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.15 306.67 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.05 306.67 Td (0.0%) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 298.60 168.96 -9.09 re f /GS0 gs q 0 0 0 rg BT 63.50 291.67 Td (Controlled ) Tj ET Q q 0 0 0 rg BT 108.22 291.67 Td (Af) Tj ET Q q 0 0 0 rg BT 118.59 291.67 Td (filiated Portfolio Companies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.15 291.67 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.05 291.67 Td (0.0%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 57.50 276.68 Td (T) Tj ET Q q 0 0 0 rg BT 63.25 276.68 Td (otal) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 259.50 276.68 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 282.15 276.68 Td (75,045,478) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 411.50 276.68 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 433.15 276.68 Td (75,045,478) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 50 246.93505859375 m 158.271484375 246.93505859375 l s q 0 0 0 rg BT 50.00 248.50 Td (NOTE ) Tj ET Q q 0 0 0 rg BT 80.84 248.50 Td (6. ) Tj ET Q q 0 0 0 rg BT 90.84 248.50 Td (DERIV) Tj ET Q q 0 0 0 rg BT 121.78 248.50 Td (A) Tj ET Q q 0 0 0 rg BT 128.26 248.50 Td (TIVES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 236.50 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 224.50 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.33 224.50 Td (December31, ) Tj ET Q q 0 0 0 rg BT 158.74 224.50 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.74 224.50 Td (, ) Tj ET Q q 0 0 0 rg BT 184.57 224.50 Td (we ) Tj ET Q q 0 0 0 rg BT 199.55 224.50 Td (had ) Tj ET Q q 0 0 0 rg BT 217.32 224.50 Td (rights ) Tj ET Q q 0 0 0 rg BT 243.43 224.50 Td (to ) Tj ET Q q 0 0 0 rg BT 254.53 224.50 Td (milestone ) Tj ET Q q 0 0 0 rg BT 296.74 224.50 Td (payments ) Tj ET Q q 0 0 0 rg BT 338.40 224.50 Td (from ) Tj ET Q q 0 0 0 rg BT 360.43 224.50 Td (Amgen, ) Tj ET Q q 0 0 0 rg BT 395.69 224.50 Td (Inc.) Tj ET Q q 0 0 0 rg BT 413.74 224.50 Td (s ) Tj ET Q q 0 0 0 rg BT 420.96 224.50 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 468.17 224.50 Td (of ) Tj ET Q q 0 0 0 rg BT 479.83 224.50 Td (our ) Tj ET Q q 0 0 0 rg BT 496.48 224.50 Td (former ) Tj ET Q q 0 0 0 rg BT 527.02 224.50 Td (portfolio ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 212.50 Td (company) Tj ET Q q 0 0 0 rg BT 86.01 212.50 Td (, ) Tj ET Q q 0 0 0 rg BT 91.24 212.50 Td (BioV) Tj ET Q q 0 0 0 rg BT 111.80 212.50 Td (ex ) Tj ET Q q 0 0 0 rg BT 123.97 212.50 Td (Group, ) Tj ET Q q 0 0 0 rg BT 154.75 212.50 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 172.56 212.50 Td (These ) Tj ET Q q 0 0 0 rg BT 199.17 212.50 Td (rights ) Tj ET Q q 0 0 0 rg BT 224.68 212.50 Td (to ) Tj ET Q q 0 0 0 rg BT 235.19 212.50 Td (milestone ) Tj ET Q q 0 0 0 rg BT 276.80 212.50 Td (payments ) Tj ET Q q 0 0 0 rg BT 317.86 212.50 Td (were ) Tj ET Q q 0 0 0 rg BT 340.02 212.50 Td (fair ) Tj ET Q q 0 0 0 rg BT 356.63 212.50 Td (valued ) Tj ET Q q 0 0 0 rg BT 386.01 212.50 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.96 212.50 Td ($2,019,283) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.96 212.50 Td ( ) Tj ET Q q 0 0 0 rg BT 443.69 212.50 Td (as ) Tj ET Q q 0 0 0 rg BT 454.76 212.50 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.82 212.50 Td (December31, ) Tj ET Q q 0 0 0 rg BT 524.63 212.50 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.63 212.50 Td (. ) Tj ET Q q 0 0 0 rg BT 549.87 212.50 Td ( ) Tj ET Q q 0 0 0 rg BT 552.00 212.50 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 200.50 Td (December31, ) Tj ET Q q 0 0 0 rg BT 109.35 200.50 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.35 200.50 Td (, ) Tj ET Q q 0 0 0 rg BT 135.12 200.50 Td (we ) Tj ET Q q 0 0 0 rg BT 150.04 200.50 Td (had ) Tj ET Q q 0 0 0 rg BT 167.75 200.50 Td (rights ) Tj ET Q q 0 0 0 rg BT 193.79 200.50 Td (to ) Tj ET Q q 0 0 0 rg BT 204.83 200.50 Td (payments ) Tj ET Q q 0 0 0 rg BT 246.42 200.50 Td (from ) Tj ET Q q 0 0 0 rg BT 269.13 200.50 Td (Xenio ) Tj ET Q q 0 0 0 rg BT 296.83 200.50 Td (Holdings, ) Tj ET Q q 0 0 0 rg BT 339.27 200.50 Td (Inc.'s ) Tj ET Q q 0 0 0 rg BT 363.50 200.50 Td (mer) Tj ET Q q 0 0 0 rg BT 378.86 200.50 Td (ger ) Tj ET Q q 0 0 0 rg BT 394.90 200.50 Td (with ) Tj ET Q q 0 0 0 rg BT 415.94 200.50 Td (Xenio ) Tj ET Q q 0 0 0 rg BT 443.64 200.50 Td (Systems, ) Tj ET Q q 0 0 0 rg BT 482.75 200.50 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 501.05 200.50 Td (These ) Tj ET Q q 0 0 0 rg BT 528.19 200.50 Td (rights ) Tj ET Q q 0 0 0 rg BT 554.23 200.50 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 188.50 Td (payments ) Tj ET Q q 0 0 0 rg BT 90.83 188.50 Td (were ) Tj ET Q q 0 0 0 rg BT 112.75 188.50 Td (fair ) Tj ET Q q 0 0 0 rg BT 129.13 188.50 Td (valued ) Tj ET Q q 0 0 0 rg BT 158.29 188.50 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 168.00 188.50 Td ($0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.00 188.50 Td ( ) Tj ET Q q 0 0 0 rg BT 180.50 188.50 Td (as ) Tj ET Q q 0 0 0 rg BT 191.33 188.50 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.16 188.50 Td (December31, ) Tj ET Q q 0 0 0 rg BT 260.75 188.50 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.75 188.50 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 176.50 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 164.50 Td (The ) Tj ET Q q 0 0 0 rg BT 103.52 164.50 Td (following ) Tj ET Q q 0 0 0 rg BT 144.38 164.50 Td (tables ) Tj ET Q q 0 0 0 rg BT 169.68 164.50 Td (present ) Tj ET Q q 0 0 0 rg BT 200.53 164.50 Td (the ) Tj ET Q q 0 0 0 rg BT 214.72 164.50 Td (value ) Tj ET Q q 0 0 0 rg BT 238.35 164.50 Td (of ) Tj ET Q q 0 0 0 rg BT 248.66 164.50 Td (derivatives ) Tj ET Q q 0 0 0 rg BT 294.50 164.50 Td (held ) Tj ET Q q 0 0 0 rg BT 313.69 164.50 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.88 164.50 Td (December31, ) Tj ET Q q 0 0 0 rg BT 380.94 164.50 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.94 164.50 Td (, ) Tj ET Q q 0 0 0 rg BT 405.42 164.50 Td (and ) Tj ET Q q 0 0 0 rg BT 421.83 164.50 Td (the ) Tj ET Q q 0 0 0 rg BT 436.02 164.50 Td (ef) Tj ET Q q 0 0 0 rg BT 443.61 164.50 Td (fect ) Tj ET Q q 0 0 0 rg BT 460.57 164.50 Td (of ) Tj ET Q q 0 0 0 rg BT 470.87 164.50 Td (derivatives ) Tj ET Q q 0 0 0 rg BT 516.72 164.50 Td (held ) Tj ET Q q 0 0 0 rg BT 535.91 164.50 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 152.50 Td (the ) Tj ET Q q 0 0 0 rg BT 64.72 152.50 Td (year ) Tj ET Q q 0 0 0 rg BT 84.42 152.50 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.80 152.50 Td (December31, ) Tj ET Q q 0 0 0 rg BT 169.38 152.50 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.38 152.50 Td (, ) Tj ET Q q 0 0 0 rg BT 194.38 152.50 Td (along ) Tj ET Q q 0 0 0 rg BT 219.10 152.50 Td (with ) Tj ET Q q 0 0 0 rg BT 239.38 152.50 Td (the ) Tj ET Q q 0 0 0 rg BT 254.10 152.50 Td (respective ) Tj ET Q q 0 0 0 rg BT 297.13 152.50 Td (location ) Tj ET Q q 0 0 0 rg BT 331.84 152.50 Td (in ) Tj ET Q q 0 0 0 rg BT 342.12 152.50 Td (the ) Tj ET Q q 0 0 0 rg BT 356.84 152.50 Td (financial ) Tj ET Q q 0 0 0 rg BT 394.32 152.50 Td (statements.) 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q 0 0 0 rg BT 437.69 294.25 Td (Compensation ) Tj ET Q q 0 0 0 rg BT 497.63 294.25 Td (Committee ) Tj ET Q q 0 0 0 rg BT 544.23 294.25 Td (over ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 282.25 Td (the ) Tj ET Q q 0 0 0 rg BT 63.77 282.25 Td (next ) Tj ET Q q 0 0 0 rg BT 82.54 282.25 Td (two ) Tj ET Q q 0 0 0 rg BT 99.09 282.25 Td (years, ) Tj ET Q q 0 0 0 rg BT 124.24 282.25 Td (starting ) Tj ET Q q 0 0 0 rg BT 155.79 282.25 Td (December ) Tj ET Q q 0 0 0 rg BT 198.42 282.25 Td (31, ) Tj ET Q q 0 0 0 rg BT 212.47 282.25 Td (2017. ) Tj ET Q q 0 0 0 rg BT 236.53 282.25 Td ( ) Tj ET Q q 0 0 0 rg BT 237.96 282.25 Td (The ) Tj ET Q q 0 0 0 rg BT 255.06 282.25 Td (Compensation ) Tj ET Q q 0 0 0 rg BT 314.39 282.25 Td (Committee ) Tj ET Q q 0 0 0 rg BT 360.38 282.25 Td (determined ) Tj ET Q q 0 0 0 rg BT 406.91 282.25 Td (the ) Tj ET Q q 0 0 0 rg BT 420.68 282.25 Td (metrics ) Tj ET Q q 0 0 0 rg BT 451.67 282.25 Td (for ) Tj ET Q q 0 0 0 rg BT 464.88 282.25 Td (the ) Tj ET Q q 0 0 0 rg BT 478.65 282.25 Td (payment ) Tj ET Q q 0 0 0 rg BT 514.63 282.25 Td (of ) Tj ET Q q 0 0 0 rg BT 524.51 282.25 Td ($173,250 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 270.25 Td (of ) Tj ET Q q 0 0 0 rg BT 61.22 270.25 Td (this ) Tj ET Q q 0 0 0 rg BT 78.55 270.25 Td (deferred ) Tj ET Q q 0 0 0 rg BT 114.74 270.25 Td (compensation ) Tj ET Q q 0 0 0 rg BT 173.17 270.25 Td (from ) Tj ET Q q 0 0 0 rg BT 195.49 270.25 Td (2017 ) Tj ET Q q 0 0 0 rg BT 218.38 270.25 Td (were ) Tj ET Q q 0 0 0 rg BT 240.69 270.25 Td (met ) Tj ET Q q 0 0 0 rg BT 258.57 270.25 Td (as ) Tj ET Q q 0 0 0 rg BT 269.79 270.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.01 270.25 Td (December31, ) Tj ET Q q 0 0 0 rg BT 339.98 270.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.98 270.25 Td (. ) Tj ET Q q 0 0 0 rg BT 365.36 270.25 Td ( ) Tj ET Q q 0 0 0 rg BT 367.61 270.25 Td (An ) Tj ET Q q 0 0 0 rg BT 382.72 270.25 Td (additional ) Tj ET Q q 0 0 0 rg BT 425.59 270.25 Td ($1) Tj ET Q q 0 0 0 rg BT 435.22 270.25 Td (16,078 ) Tj ET Q q 0 0 0 rg BT 465.61 270.25 Td (related ) Tj ET Q q 0 0 0 rg BT 495.70 270.25 Td (to ) Tj ET Q q 0 0 0 rg BT 506.36 270.25 Td (the ) Tj ET Q q 0 0 0 rg BT 521.46 270.25 Td (remaining ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 258.25 Td (portion ) Tj ET Q q 0 0 0 rg BT 80.90 258.25 Td (of ) Tj ET Q q 0 0 0 rg BT 91.25 258.25 Td (the ) Tj ET Q q 0 0 0 rg BT 105.49 258.25 Td (deferred ) Tj ET Q q 0 0 0 rg BT 140.81 258.25 Td (bonus ) Tj ET Q q 0 0 0 rg BT 166.72 258.25 Td (was ) Tj ET Q q 0 0 0 rg BT 184.29 258.25 Td (included ) Tj ET Q q 0 0 0 rg BT 220.74 258.25 Td (in ) Tj ET Q q 0 0 0 rg BT 230.54 258.25 Td (the ) Tj ET Q q 0 0 0 rg BT 244.77 258.25 Td (Company's ) Tj ET Q q 0 0 0 rg BT 291.37 258.25 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 346.16 258.25 Td (Statement ) Tj ET Q q 0 0 0 rg BT 388.17 258.25 Td (of ) Tj ET Q q 0 0 0 rg BT 398.07 258.25 Td (Assets ) Tj ET Q q 0 0 0 rg BT 426.21 258.25 Td (and ) Tj ET Q q 0 0 0 rg BT 442.66 258.25 Td (Liabilities ) Tj ET Q q 0 0 0 rg BT 485.23 258.25 Td (as ) Tj ET Q q 0 0 0 rg BT 495.58 258.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.92 258.25 Td (December31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 246.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 246.25 Td (. ) Tj ET Q q 0 0 0 rg BT 75.36 246.25 Td ( ) Tj ET Q q 0 0 0 rg BT 78.02 246.25 Td (This ) Tj ET Q q 0 0 0 rg BT 98.66 246.25 Td (amount ) Tj ET Q q 0 0 0 rg BT 131.52 246.25 Td (represents ) Tj ET Q q 0 0 0 rg BT 174.92 246.25 Td (the ) Tj ET Q q 0 0 0 rg BT 190.00 246.25 Td (additional ) Tj ET Q q 0 0 0 rg BT 232.85 246.25 Td (time-elapsed ) Tj ET Q q 0 0 0 rg BT 286.80 246.25 Td (portion ) Tj ET Q q 0 0 0 rg BT 318.55 246.25 Td (of ) Tj ET Q q 0 0 0 rg BT 329.74 246.25 Td (the ) Tj ET Q q 0 0 0 rg BT 344.82 246.25 Td (deferred ) Tj ET Q q 0 0 0 rg BT 380.99 246.25 Td (bonus ) Tj ET Q q 0 0 0 rg BT 407.75 246.25 Td (accrued ) Tj ET Q q 0 0 0 rg BT 441.69 246.25 Td (on ) Tj ET Q q 0 0 0 rg BT 454.56 246.25 Td (a ) Tj ET Q q 0 0 0 rg BT 461.86 246.25 Td (straight-line ) Tj ET Q q 0 0 0 rg BT 513.04 246.25 Td (basis ) Tj ET Q q 0 0 0 rg BT 535.90 246.25 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 234.25 Td (the ) Tj ET Q q 0 0 0 rg BT 64.72 234.25 Td (year ) Tj ET Q q 0 0 0 rg BT 84.42 234.25 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.80 234.25 Td (December31, ) Tj ET Q q 0 0 0 rg BT 169.38 234.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.38 234.25 Td (, ) Tj ET Q q 0 0 0 rg BT 194.38 234.25 Td (based ) Tj ET Q q 0 0 0 rg BT 219.65 234.25 Td (on ) Tj ET Q q 0 0 0 rg BT 232.15 234.25 Td (the ) Tj ET Q q 0 0 0 rg BT 246.87 234.25 Td (metric ) Tj ET Q q 0 0 0 rg BT 274.91 234.25 Td (measurement ) Tj ET Q q 0 0 0 rg BT 330.72 234.25 Td (date. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 210.25 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 210.25 Td (The ) Tj ET Q q 0 0 0 rg BT 103.71 210.25 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 144.74 210.25 Td (compensation ) Tj ET Q q 0 0 0 rg BT 202.44 210.25 Td (paid ) Tj ET Q q 0 0 0 rg BT 221.82 210.25 Td (by ) Tj ET Q q 0 0 0 rg BT 233.98 210.25 Td (the ) Tj ET Q q 0 0 0 rg BT 248.36 210.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 289.41 210.25 Td (to ) Tj ET Q q 0 0 0 rg BT 299.35 210.25 Td (the ) Tj ET Q q 0 0 0 rg BT 313.73 210.25 Td (independent ) Tj ET Q q 0 0 0 rg BT 364.77 210.25 Td (members ) Tj ET Q q 0 0 0 rg BT 403.59 210.25 Td (of ) Tj ET Q q 0 0 0 rg BT 414.08 210.25 Td (its ) Tj ET Q q 0 0 0 rg BT 425.69 210.25 Td (Board ) Tj ET Q q 0 0 0 rg BT 452.29 210.25 Td (of ) Tj ET Q q 0 0 0 rg BT 462.79 210.25 Td (Directors ) Tj ET Q q 0 0 0 rg BT 502.16 210.25 Td (during ) Tj ET Q q 0 0 0 rg BT 530.43 210.25 Td (the ) Tj ET Q q 0 0 0 rg BT 544.81 210.25 Td (year ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 198.25 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.38 198.25 Td (December31, ) Tj ET Q q 0 0 0 rg BT 134.96 198.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.96 198.25 Td ( ) Tj ET Q q 0 0 0 rg BT 157.46 198.25 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 175.51 198.25 Td ($277,500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 213.01 198.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 186.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 174.25 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 174.25 Td (Certain ) Tj ET Q q 0 0 0 rg BT 117.72 174.25 Td (of) Tj ET Q q 0 0 0 rg BT 125.87 174.25 Td (ficers ) Tj ET Q q 0 0 0 rg BT 150.37 174.25 Td (and ) Tj ET Q q 0 0 0 rg BT 167.10 174.25 Td (directors ) Tj ET Q q 0 0 0 rg BT 204.37 174.25 Td (currently ) Tj ET Q q 0 0 0 rg BT 242.76 174.25 Td (and ) Tj ET Q q 0 0 0 rg BT 259.49 174.25 Td (may ) Tj ET Q q 0 0 0 rg BT 278.99 174.25 Td (in ) Tj ET Q q 0 0 0 rg BT 289.06 174.25 Td (the ) Tj ET Q q 0 0 0 rg BT 303.57 174.25 Td (future ) Tj ET Q q 0 0 0 rg BT 329.74 174.25 Td (serve ) Tj ET Q q 0 0 0 rg BT 353.12 174.25 Td (as ) Tj ET Q q 0 0 0 rg BT 363.74 174.25 Td (members ) Tj ET Q q 0 0 0 rg BT 402.69 174.25 Td (of ) Tj ET Q q 0 0 0 rg BT 413.31 174.25 Td (the ) Tj ET Q q 0 0 0 rg BT 427.82 174.25 Td (board ) Tj ET Q q 0 0 0 rg BT 452.88 174.25 Td (of ) Tj ET Q q 0 0 0 rg BT 463.50 174.25 Td (directors ) Tj ET Q q 0 0 0 rg BT 500.77 174.25 Td (of ) Tj ET Q q 0 0 0 rg BT 511.39 174.25 Td (our ) Tj ET Q q 0 0 0 rg BT 527.01 174.25 Td (portfolio ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 162.25 Td (companies, ) Tj ET Q q 0 0 0 rg BT 96.94 162.25 Td (including ) Tj ET Q q 0 0 0 rg BT 136.40 162.25 Td (our ) Tj ET Q q 0 0 0 rg BT 151.41 162.25 Td (controlled ) Tj ET Q q 0 0 0 rg BT 193.63 162.25 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 230.31 162.25 Td (companies. ) Tj ET Q q 0 0 0 rg BT 277.25 162.25 Td ( ) Tj ET Q q 0 0 0 rg BT 278.81 162.25 Td (These ) Tj ET Q q 0 0 0 rg BT 304.37 162.25 Td (of) Tj ET Q q 0 0 0 rg BT 312.52 162.25 Td (ficers ) Tj ET Q q 0 0 0 rg BT 336.41 162.25 Td (and ) Tj ET Q q 0 0 0 rg BT 352.53 162.25 Td (directors ) Tj ET Q q 0 0 0 rg BT 389.20 162.25 Td (do ) Tj ET Q q 0 0 0 rg BT 400.88 162.25 Td (not ) Tj ET Q q 0 0 0 rg BT 415.34 162.25 Td (receive ) Tj ET Q q 0 0 0 rg BT 445.88 162.25 Td (any ) Tj ET Q q 0 0 0 rg BT 462.00 162.25 Td (compensation ) Tj ET Q q 0 0 0 rg BT 519.22 162.25 Td (for ) Tj ET Q q 0 0 0 rg BT 532.56 162.25 Td (serving ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 150.25 Td (in ) Tj ET Q q 0 0 0 rg BT 59.75 150.25 Td (such ) Tj ET Q q 0 0 0 rg BT 80.06 150.25 Td (roles ) Tj ET Q q 0 0 0 rg BT 101.47 150.25 Td (directly ) Tj ET Q q 0 0 0 rg BT 133.99 150.25 Td (from ) Tj ET Q q 0 0 0 rg BT 155.40 150.25 Td (the ) Tj ET Q q 0 0 0 rg BT 169.59 150.25 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 206.56 150.25 Td (companies. ) Tj ET Q q 0 0 0 rg BT 253.80 150.25 Td ( ) Tj ET Q q 0 0 0 rg BT 255.34 150.25 Td (Any ) Tj ET Q q 0 0 0 rg BT 274.54 150.25 Td (such ) Tj ET Q q 0 0 0 rg BT 294.84 150.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 314.59 150.25 Td (compensation ) Tj ET Q q 0 0 0 rg BT 372.11 150.25 Td (paid ) Tj ET Q q 0 0 0 rg BT 391.30 150.25 Td (by ) Tj ET Q q 0 0 0 rg BT 403.27 150.25 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 440.24 150.25 Td (companies ) Tj ET Q q 0 0 0 rg BT 484.98 150.25 Td (to ) Tj ET Q q 0 0 0 rg BT 494.73 150.25 Td (members ) Tj ET Q q 0 0 0 rg BT 533.37 150.25 Td (of ) Tj ET Q q 0 0 0 rg BT 543.67 150.25 Td (their ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 138.25 Td (respective ) Tj ET Q q 0 0 0 rg BT 93.21 138.25 Td (boards ) Tj ET Q q 0 0 0 rg BT 122.55 138.25 Td (of ) Tj ET Q q 0 0 0 rg BT 133.56 138.25 Td (directors ) Tj ET Q q 0 0 0 rg BT 171.22 138.25 Td (is ) Tj ET Q q 0 0 0 rg BT 180.57 138.25 Td (paid ) Tj ET Q q 0 0 0 rg BT 200.46 138.25 Td (directly ) Tj ET Q q 0 0 0 rg BT 233.68 138.25 Td (to ) Tj ET Q q 0 0 0 rg BT 244.14 138.25 Td (the ) Tj ET Q q 0 0 0 rg BT 259.04 138.25 Td (Company) Tj ET Q q 0 0 0 rg BT 297.27 138.25 Td (. ) Tj ET Q q 0 0 0 rg BT 302.45 138.25 Td ( ) Tj ET Q q 0 0 0 rg BT 305.13 138.25 Td (In ) Tj ET Q q 0 0 0 rg BT 316.14 138.25 Td (the ) Tj ET Q q 0 0 0 rg BT 331.03 138.25 Td (case ) Tj ET Q q 0 0 0 rg BT 350.92 138.25 Td (of ) Tj ET Q q 0 0 0 rg BT 361.93 138.25 Td (securities-based ) Tj ET Q q 0 0 0 rg BT 428.47 138.25 Td (compensation ) Tj ET Q q 0 0 0 rg BT 486.69 138.25 Td (\(restricted ) Tj ET Q q 0 0 0 rg BT 529.90 138.25 Td (stock ) Tj ET Q q 0 0 0 rg BT 553.68 138.25 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 126.25 Td (stock ) Tj ET Q q 0 0 0 rg BT 73.37 126.25 Td (options\), ) Tj ET Q q 0 0 0 rg BT 110.90 126.25 Td (the ) Tj ET Q q 0 0 0 rg BT 125.38 126.25 Td (of) Tj ET Q q 0 0 0 rg BT 133.53 126.25 Td (ficer ) Tj ET Q q 0 0 0 rg BT 154.10 126.25 Td (or ) Tj ET Q q 0 0 0 rg BT 164.69 126.25 Td (director ) Tj ET Q q 0 0 0 rg BT 198.04 126.25 Td (due ) Tj ET Q q 0 0 0 rg BT 214.74 126.25 Td (such ) Tj ET Q q 0 0 0 rg BT 235.33 126.25 Td (compensation ) Tj ET Q q 0 0 0 rg BT 293.13 126.25 Td (assigns ) Tj ET Q q 0 0 0 rg BT 324.28 126.25 Td (all ) Tj ET Q q 0 0 0 rg BT 336.53 126.25 Td (beneficial ) Tj ET Q q 0 0 0 rg BT 378.21 126.25 Td (interest, ) Tj ET Q q 0 0 0 rg BT 412.40 126.25 Td (including ) Tj ET Q q 0 0 0 rg BT 452.43 126.25 Td (but ) Tj ET Q q 0 0 0 rg BT 467.47 126.25 Td (not ) Tj ET Q q 0 0 0 rg BT 482.50 126.25 Td (limited ) Tj ET Q q 0 0 0 rg BT 513.09 126.25 Td (to ) Tj ET Q q 0 0 0 rg BT 523.13 126.25 Td (economic ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 114.25 Td (benefit ) Tj ET Q q 0 0 0 rg BT 80.26 114.25 Td (and ) Tj ET Q q 0 0 0 rg BT 97.20 114.25 Td (voting ) Tj ET Q q 0 0 0 rg BT 125.26 114.25 Td (control, ) Tj ET Q q 0 0 0 rg BT 158.58 114.25 Td (to ) Tj ET Q q 0 0 0 rg BT 168.86 114.25 Td (such ) Tj ET Q q 0 0 0 rg BT 189.69 114.25 Td (securities ) Tj ET Q q 0 0 0 rg BT 229.96 114.25 Td (over ) Tj ET Q q 0 0 0 rg BT 250.22 114.25 Td (to ) Tj ET Q q 0 0 0 rg BT 260.50 114.25 Td (the ) Tj ET Q q 0 0 0 rg BT 275.22 114.25 Td (Company) Tj ET Q q 0 0 0 rg BT 313.46 114.25 Td (. ) Tj ET Q endstream endobj 77 0 obj <> endobj 78 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (38) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 50 740.68505859375 m 200.029296875 740.68505859375 l s q 0 0 0 rg BT 50.00 742.25 Td (NOTE ) Tj ET Q q 0 0 0 rg BT 80.84 742.25 Td (8. ) Tj ET Q q 0 0 0 rg BT 90.84 742.25 Td (EMPLOYEE ) Tj ET Q q 0 0 0 rg BT 150.57 742.25 Td (BENEFITS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 730.25 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 718.25 Td (401\(k\) ) Tj ET Q q 0 0 0 rg BT 79.72 718.25 Td (Plan) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.25 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 694.25 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 694.25 Td (e ) Tj ET Q q 0 0 0 rg BT 102.41 694.25 Td (adopted ) Tj ET Q q 0 0 0 rg BT 137.40 694.25 Td (a ) Tj ET Q q 0 0 0 rg BT 145.17 694.25 Td (401\(k\) ) Tj ET Q q 0 0 0 rg BT 175.16 694.25 Td (Plan ) Tj ET Q q 0 0 0 rg BT 196.27 694.25 Td (covering ) Tj ET Q q 0 0 0 rg BT 234.59 694.25 Td (substantially ) Tj ET Q q 0 0 0 rg BT 288.47 694.25 Td (all ) Tj ET Q q 0 0 0 rg BT 301.80 694.25 Td (of ) Tj ET Q q 0 0 0 rg BT 313.46 694.25 Td (our ) Tj ET Q q 0 0 0 rg BT 330.13 694.25 Td (employees. ) Tj ET Q q 0 0 0 rg BT 378.72 694.25 Td (Matching ) Tj ET Q q 0 0 0 rg BT 420.38 694.25 Td (contributions ) Tj ET Q q 0 0 0 rg BT 476.49 694.25 Td (to ) Tj ET Q q 0 0 0 rg BT 487.60 694.25 Td (the ) Tj ET Q q 0 0 0 rg BT 503.15 694.25 Td (plan ) Tj ET Q q 0 0 0 rg BT 523.70 694.25 Td (are ) Tj ET Q q 0 0 0 rg BT 539.23 694.25 Td (at ) Tj ET Q q 0 0 0 rg BT 549.78 694.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (discretion ) Tj ET Q q 0 0 0 rg BT 92.46 682.25 Td (of ) Tj ET Q q 0 0 0 rg BT 103.83 682.25 Td (the ) Tj ET Q q 0 0 0 rg BT 119.07 682.25 Td (Compensation ) Tj ET Q q 0 0 0 rg BT 179.88 682.25 Td (Committee. ) Tj ET Q q 0 0 0 rg BT 229.85 682.25 Td (For ) Tj ET Q q 0 0 0 rg BT 246.77 682.25 Td (the ) Tj ET Q q 0 0 0 rg BT 262.02 682.25 Td (year ) Tj ET Q q 0 0 0 rg BT 282.26 682.25 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.17 682.25 Td (December31, ) Tj ET Q q 0 0 0 rg BT 368.28 682.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.28 682.25 Td (, ) Tj ET Q q 0 0 0 rg BT 393.81 682.25 Td (the ) Tj ET Q q 0 0 0 rg BT 409.06 682.25 Td (Compensation ) Tj ET Q q 0 0 0 rg BT 469.87 682.25 Td (Committee ) Tj ET Q q 0 0 0 rg BT 517.33 682.25 Td (approved ) Tj ET Q q 0 0 0 rg BT 557.57 682.25 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.25 Td (100 ) Tj ET Q q 0 0 0 rg BT 67.50 670.25 Td (percent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.92 670.25 Td ( ) Tj ET Q q 0 0 0 rg BT 99.42 670.25 Td (match, ) Tj ET Q q 0 0 0 rg BT 128.86 670.25 Td (which ) Tj ET Q q 0 0 0 rg BT 155.80 670.25 Td (amounted ) Tj ET Q q 0 0 0 rg BT 197.73 670.25 Td (to ) Tj ET Q q 0 0 0 rg BT 208.01 670.25 Td (approximately ) Tj ET Q q 0 0 0 rg BT 268.27 670.25 Td ($86,000. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 646.25 Td (Medical ) Tj ET Q q 0 0 0 rg BT 86.93 646.25 Td (Benefit ) Tj ET Q q 0 0 0 rg BT 119.98 646.25 Td (Retir) Tj ET Q q 0 0 0 rg BT 142.01 646.25 Td (ement ) Tj ET Q q 0 0 0 rg BT 170.61 646.25 Td (Plan) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 622.25 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 622.25 Td (e ) Tj ET Q q 0 0 0 rg BT 102.04 622.25 Td (historically ) Tj ET Q q 0 0 0 rg BT 149.99 622.25 Td (administered ) Tj ET Q q 0 0 0 rg BT 204.61 622.25 Td (a ) Tj ET Q q 0 0 0 rg BT 212.01 622.25 Td (plan ) Tj ET Q q 0 0 0 rg BT 232.19 622.25 Td (to ) Tj ET Q q 0 0 0 rg BT 242.93 622.25 Td (provide ) Tj ET Q q 0 0 0 rg BT 276.44 622.25 Td (medical ) Tj ET Q q 0 0 0 rg BT 311.06 622.25 Td (and ) Tj ET Q q 0 0 0 rg BT 328.46 622.25 Td (dental ) Tj ET Q q 0 0 0 rg BT 355.86 622.25 Td (insurance ) Tj ET Q q 0 0 0 rg BT 397.14 622.25 Td (for ) Tj ET Q q 0 0 0 rg BT 411.76 622.25 Td (retirees ) Tj ET Q q 0 0 0 rg BT 444.15 622.25 Td (and ) Tj ET Q q 0 0 0 rg BT 461.55 622.25 Td (their ) Tj ET Q q 0 0 0 rg BT 482.84 622.25 Td (spouses ) Tj ET Q q 0 0 0 rg BT 516.92 622.25 Td (who, ) Tj ET Q q 0 0 0 rg BT 539.60 622.25 Td (at ) Tj ET Q q 0 0 0 rg BT 549.78 622.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.25 Td (time ) Tj ET Q q 0 0 0 rg BT 70.50 610.25 Td (of ) Tj ET Q q 0 0 0 rg BT 81.56 610.25 Td (their ) Tj ET Q q 0 0 0 rg BT 102.62 610.25 Td (retirement, ) Tj ET Q q 0 0 0 rg BT 148.94 610.25 Td (attained ) Tj ET Q q 0 0 0 rg BT 183.32 610.25 Td (certain ) Tj ET Q q 0 0 0 rg BT 213.25 610.25 Td (years ) Tj ET Q q 0 0 0 rg BT 237.08 610.25 Td (of ) Tj ET Q q 0 0 0 rg BT 248.13 610.25 Td (service ) Tj ET Q q 0 0 0 rg BT 279.18 610.25 Td (with ) Tj ET Q q 0 0 0 rg BT 299.69 610.25 Td (us ) Tj ET Q q 0 0 0 rg BT 311.31 610.25 Td (and ) Tj ET Q q 0 0 0 rg BT 328.48 610.25 Td (a ) Tj ET Q q 0 0 0 rg BT 335.64 610.25 Td (certain ) Tj ET Q q 0 0 0 rg BT 365.58 610.25 Td (age ) Tj ET Q q 0 0 0 rg BT 382.18 610.25 Td (\(the ) Tj ET Q q 0 0 0 rg BT 400.46 610.25 Td ("Medical ) Tj ET Q q 0 0 0 rg BT 440.03 610.25 Td (Benefit ) Tj ET Q q 0 0 0 rg BT 472.20 610.25 Td (Retirement ) Tj ET Q q 0 0 0 rg BT 519.36 610.25 Td (Plan"\). ) Tj ET Q q 0 0 0 rg BT 549.78 610.25 Td (On ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.25 Td (April ) Tj ET Q q 0 0 0 rg BT 73.16 598.25 Td (27, ) Tj ET Q q 0 0 0 rg BT 87.72 598.25 Td (2017, ) Tj ET Q q 0 0 0 rg BT 112.28 598.25 Td (the ) Tj ET Q q 0 0 0 rg BT 126.55 598.25 Td (Board ) Tj ET Q q 0 0 0 rg BT 153.04 598.25 Td (of ) Tj ET Q q 0 0 0 rg BT 163.43 598.25 Td (Directors ) Tj ET Q q 0 0 0 rg BT 202.69 598.25 Td (terminated ) Tj ET Q q 0 0 0 rg BT 247.50 598.25 Td (the ) Tj ET Q q 0 0 0 rg BT 261.78 598.25 Td (plan. ) Tj ET Q q 0 0 0 rg BT 283.55 598.25 Td ( ) Tj ET Q q 0 0 0 rg BT 285.46 598.25 Td (The ) Tj ET Q q 0 0 0 rg BT 303.06 598.25 Td (termination ) Tj ET Q q 0 0 0 rg BT 351.21 598.25 Td (does ) Tj ET Q q 0 0 0 rg BT 371.60 598.25 Td (not ) Tj ET Q q 0 0 0 rg BT 386.43 598.25 Td (af) Tj ET Q q 0 0 0 rg BT 394.02 598.25 Td (fect ) Tj ET Q q 0 0 0 rg BT 411.06 598.25 Td (benefits ) Tj ET Q q 0 0 0 rg BT 444.77 598.25 Td (accrued ) Tj ET Q q 0 0 0 rg BT 477.91 598.25 Td (by ) Tj ET Q q 0 0 0 rg BT 489.97 598.25 Td (former ) Tj ET Q q 0 0 0 rg BT 519.23 598.25 Td (employees ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.25 Td (who ) Tj ET Q q 0 0 0 rg BT 70.34 586.25 Td (are ) Tj ET Q q 0 0 0 rg BT 85.66 586.25 Td (grandfathered ) Tj ET Q q 0 0 0 rg BT 144.30 586.25 Td (under ) Tj ET Q q 0 0 0 rg BT 170.19 586.25 Td (the ) Tj ET Q q 0 0 0 rg BT 185.52 586.25 Td (former ) Tj ET Q q 0 0 0 rg BT 215.84 586.25 Td (terms ) Tj ET Q q 0 0 0 rg BT 241.18 586.25 Td (of ) Tj ET Q q 0 0 0 rg BT 252.62 586.25 Td (the ) Tj ET Q q 0 0 0 rg BT 267.96 586.25 Td (plan, ) Tj ET Q q 0 0 0 rg BT 290.79 586.25 Td (and ) Tj ET Q q 0 0 0 rg BT 308.35 586.25 Td (the ) Tj ET Q q 0 0 0 rg BT 323.68 586.25 Td (termination ) Tj ET Q q 0 0 0 rg BT 372.90 586.25 Td (of ) Tj ET Q q 0 0 0 rg BT 384.34 586.25 Td (the ) Tj ET Q q 0 0 0 rg BT 399.68 586.25 Td (plan ) Tj ET Q q 0 0 0 rg BT 420.01 586.25 Td (does ) Tj ET Q q 0 0 0 rg BT 441.46 586.25 Td (not ) Tj ET Q q 0 0 0 rg BT 457.35 586.25 Td (af) Tj ET Q q 0 0 0 rg BT 464.94 586.25 Td (fect ) Tj ET Q q 0 0 0 rg BT 483.04 586.25 Td (benefits ) Tj ET Q q 0 0 0 rg BT 517.81 586.25 Td (accrued ) Tj ET Q q 0 0 0 rg BT 552.01 586.25 Td (by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.25 Td (certain ) Tj ET Q q 0 0 0 rg BT 79.94 574.25 Td (former ) Tj ET Q q 0 0 0 rg BT 109.89 574.25 Td (employees ) Tj ET Q q 0 0 0 rg BT 155.40 574.25 Td (who ) Tj ET Q q 0 0 0 rg BT 175.36 574.25 Td (were ) Tj ET Q q 0 0 0 rg BT 197.53 574.25 Td (grandfathered ) Tj ET Q q 0 0 0 rg BT 255.80 574.25 Td (under ) Tj ET Q q 0 0 0 rg BT 281.31 574.25 Td (the ) Tj ET Q q 0 0 0 rg BT 296.26 574.25 Td (amended ) Tj ET Q q 0 0 0 rg BT 335.10 574.25 Td (terms ) Tj ET Q q 0 0 0 rg BT 360.06 574.25 Td (of ) Tj ET Q q 0 0 0 rg BT 371.13 574.25 Td (the ) Tj ET Q q 0 0 0 rg BT 386.09 574.25 Td (plan. ) Tj ET Q q 0 0 0 rg BT 408.55 574.25 Td ( ) Tj ET Q q 0 0 0 rg BT 411.09 574.25 Td (The ) Tj ET Q q 0 0 0 rg BT 429.38 574.25 Td (Medical ) Tj ET Q q 0 0 0 rg BT 464.88 574.25 Td (Benefit ) Tj ET Q q 0 0 0 rg BT 497.06 574.25 Td (Retirement ) Tj ET Q q 0 0 0 rg BT 544.23 574.25 Td (Plan ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.25 Td (was ) Tj ET Q q 0 0 0 rg BT 68.05 562.25 Td (terminated ) Tj ET Q q 0 0 0 rg BT 113.31 562.25 Td (for ) Tj ET Q q 0 0 0 rg BT 127.47 562.25 Td (all ) Tj ET Q q 0 0 0 rg BT 139.97 562.25 Td (other ) Tj ET Q q 0 0 0 rg BT 163.01 562.25 Td (employees. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 538.25 Td (The ) Tj ET Q q 0 0 0 rg BT 103.67 538.25 Td (plan ) Tj ET Q q 0 0 0 rg BT 123.02 538.25 Td (is ) Tj ET Q q 0 0 0 rg BT 131.82 538.25 Td (unfunded ) Tj ET Q q 0 0 0 rg BT 171.71 538.25 Td (and ) Tj ET Q q 0 0 0 rg BT 188.28 538.25 Td (has ) Tj ET Q q 0 0 0 rg BT 203.74 538.25 Td (no ) Tj ET Q q 0 0 0 rg BT 215.87 538.25 Td (assets. ) Tj ET Q q 0 0 0 rg BT 243.67 538.25 Td (The ) Tj ET Q q 0 0 0 rg BT 261.35 538.25 Td (following ) Tj ET Q q 0 0 0 rg BT 302.36 538.25 Td (disclosures ) Tj ET Q q 0 0 0 rg BT 348.93 538.25 Td (about ) Tj ET Q q 0 0 0 rg BT 373.27 538.25 Td (changes ) Tj ET Q q 0 0 0 rg BT 407.61 538.25 Td (in ) Tj ET Q q 0 0 0 rg BT 417.51 538.25 Td (the ) Tj ET Q q 0 0 0 rg BT 431.86 538.25 Td (benefit ) Tj ET Q q 0 0 0 rg BT 461.75 538.25 Td (obligation ) Tj ET Q q 0 0 0 rg BT 504.43 538.25 Td (under ) Tj ET Q q 0 0 0 rg BT 529.32 538.25 Td (our ) Tj ET Q q 0 0 0 rg BT 544.78 538.25 Td (plan ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.25 Td (to ) Tj ET Q q 0 0 0 rg BT 60.28 526.25 Td (provide ) Tj ET Q q 0 0 0 rg BT 93.33 526.25 Td (medical ) Tj ET Q q 0 0 0 rg BT 127.48 526.25 Td (and ) Tj ET Q q 0 0 0 rg BT 144.41 526.25 Td (dental ) Tj ET Q q 0 0 0 rg BT 171.35 526.25 Td (insurance ) Tj ET Q q 0 0 0 rg BT 212.16 526.25 Td (for ) Tj ET Q q 0 0 0 rg BT 226.32 526.25 Td (retirees ) Tj ET Q q 0 0 0 rg BT 258.25 526.25 Td (are ) Tj ET Q q 0 0 0 rg BT 272.95 526.25 Td (as ) Tj ET Q q 0 0 0 rg BT 283.78 526.25 Td (of ) Tj ET Q q 0 0 0 rg BT 294.61 526.25 Td (the ) Tj ET Q q 0 0 0 rg BT 309.33 526.25 Td (measurement ) Tj ET Q q 0 0 0 rg BT 365.14 526.25 Td (date ) Tj ET Q q 0 0 0 rg BT 384.30 526.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.13 526.25 Td (December31, ) Tj ET Q q 0 0 0 rg BT 453.71 526.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.71 526.25 Td (:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.49 526.25 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 474.75 417.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.50 474.75 93.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 444.75 417.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.50 444.75 93.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 414.75 417.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.50 414.75 93.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 467.5 488.75 m 560.5 488.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 467.5 488.75 m 560.5 488.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 467.5 414.75 m 560.5 414.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 467.5 414.75 m 560.5 414.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 467.5 401.75 m 560.5 401.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 467.5 399.75 m 560.5 399.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 493.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 503.50 493.43 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 464.42 Td (Accumulated ) Tj ET Q q 0 0 0 rg BT 108.81 464.42 Td (post-retirement ) Tj ET Q q 0 0 0 rg BT 172.40 464.42 Td (benefit ) Tj ET Q q 0 0 0 rg BT 202.66 464.42 Td (obligation ) Tj ET Q q 0 0 0 rg BT 245.71 464.42 Td (- ) Tj ET Q q 0 0 0 rg BT 251.54 464.42 Td (January ) Tj ET Q q 0 0 0 rg BT 285.14 464.42 Td (1, ) Tj ET Q q 0 0 0 rg BT 295.14 464.42 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.00 464.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.65 464.42 Td (1,144,829) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 449.42 Td (Interest ) Tj ET Q q 0 0 0 rg BT 85.49 449.42 Td (cost) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.15 449.42 Td (36,312) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 434.42 Td (Actuarial ) Tj ET Q q 0 0 0 rg BT 92.70 434.42 Td (gains) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.80 434.47 Td (\(170,066) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.65 434.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 419.42 Td (Benefits ) Tj ET Q q 0 0 0 rg BT 88.83 419.42 Td (paid) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.80 419.47 Td (\(48,060) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.65 419.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 405.43 Td (Accumulated ) Tj ET Q q 0 0 0 rg BT 112.16 405.43 Td (post-r) Tj ET Q q 0 0 0 rg BT 137.53 405.43 Td (etir) Tj ET Q q 0 0 0 rg BT 152.34 405.43 Td (ement ) Tj ET Q q 0 0 0 rg BT 180.93 405.43 Td (benefit ) Tj ET Q q 0 0 0 rg BT 212.87 405.43 Td (obligation ) Tj ET Q q 0 0 0 rg BT 258.16 405.43 Td (- ) Tj ET Q q 0 0 0 rg BT 263.99 405.43 Td (December) Tj ET Q q 0 0 0 rg BT 307.12 405.43 Td ( ) Tj ET Q q 0 0 0 rg BT 309.62 405.43 Td (31, ) Tj ET Q q 0 0 0 rg BT 324.62 405.43 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 470.00 405.43 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 524.15 405.43 Td (963,015) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 389.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 377.25 Td (In ) Tj ET Q q 0 0 0 rg BT 96.67 377.25 Td (accounting ) Tj ET Q q 0 0 0 rg BT 142.89 377.25 Td (for ) Tj ET Q q 0 0 0 rg BT 156.89 377.25 Td (the ) Tj ET Q q 0 0 0 rg BT 171.45 377.25 Td (plan, ) Tj ET Q q 0 0 0 rg BT 193.51 377.25 Td (the ) Tj ET Q q 0 0 0 rg BT 208.07 377.25 Td (assumption ) Tj ET Q q 0 0 0 rg BT 255.97 377.25 Td (made ) Tj ET Q q 0 0 0 rg BT 279.97 377.25 Td (for ) Tj ET Q q 0 0 0 rg BT 293.97 377.25 Td (the ) Tj ET Q q 0 0 0 rg BT 308.53 377.25 Td (discount ) Tj ET Q q 0 0 0 rg BT 344.76 377.25 Td (rate ) Tj ET Q q 0 0 0 rg BT 362.09 377.25 Td (was ) Tj ET Q q 0 0 0 rg BT 379.98 377.25 Td (3.98 ) Tj ET Q q 0 0 0 rg BT 399.82 377.25 Td (percent ) Tj ET Q q 0 0 0 rg BT 431.59 377.25 Td (for ) Tj ET Q q 0 0 0 rg BT 445.59 377.25 Td (the ) Tj ET Q q 0 0 0 rg BT 460.15 377.25 Td (year ) Tj ET Q q 0 0 0 rg BT 479.70 377.25 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.92 377.25 Td (December31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 365.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 365.25 Td (. ) Tj ET Q q 0 0 0 rg BT 74.45 365.25 Td (The ) Tj ET Q q 0 0 0 rg BT 92.10 365.25 Td (discount ) Tj ET Q q 0 0 0 rg BT 128.09 365.25 Td (rate ) Tj ET Q q 0 0 0 rg BT 145.18 365.25 Td (was ) Tj ET Q q 0 0 0 rg BT 162.84 365.25 Td (calculated ) Tj ET Q q 0 0 0 rg BT 205.47 365.25 Td (using ) Tj ET Q q 0 0 0 rg BT 229.24 365.25 Td (the ) Tj ET Q q 0 0 0 rg BT 243.56 365.25 Td (December ) Tj ET Q q 0 0 0 rg BT 286.75 365.25 Td (31, ) Tj ET Q q 0 0 0 rg BT 301.35 365.25 Td (2018 ) Tj ET Q q 0 0 0 rg BT 323.46 365.25 Td (FTSE ) Tj ET Q q 0 0 0 rg BT 348.90 365.25 Td (Pension ) Tj ET Q q 0 0 0 rg BT 382.67 365.25 Td (Liability ) Tj ET Q q 0 0 0 rg BT 419.21 365.25 Td (Index. ) Tj ET Q q 0 0 0 rg BT 446.43 365.25 Td (The ) Tj ET Q q 0 0 0 rg BT 464.08 365.25 Td (assumed ) Tj ET Q q 0 0 0 rg BT 500.63 365.25 Td (health ) Tj ET Q q 0 0 0 rg BT 527.16 365.25 Td (care ) Tj ET Q q 0 0 0 rg BT 545.91 365.25 Td (cost ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 353.25 Td (trend ) Tj ET Q q 0 0 0 rg BT 73.52 353.25 Td (rates ) Tj ET Q q 0 0 0 rg BT 95.38 353.25 Td (is ) Tj ET Q q 0 0 0 rg BT 105.02 353.25 Td (assumed ) Tj ET Q q 0 0 0 rg BT 142.44 353.25 Td (to ) Tj ET Q q 0 0 0 rg BT 153.19 353.25 Td (be ) Tj ET Q q 0 0 0 rg BT 165.61 353.25 Td (7.25 ) Tj ET Q q 0 0 0 rg BT 186.08 353.25 Td (percent ) Tj ET Q q 0 0 0 rg BT 218.48 353.25 Td (in ) Tj ET Q q 0 0 0 rg BT 229.24 353.25 Td (2019 ) Tj ET Q q 0 0 0 rg BT 252.21 353.25 Td (grading ) Tj ET Q q 0 0 0 rg BT 285.73 353.25 Td (down ) Tj ET Q q 0 0 0 rg BT 310.93 353.25 Td (to ) Tj ET Q q 0 0 0 rg BT 321.69 353.25 Td (6.75 ) Tj ET Q q 0 0 0 rg BT 342.16 353.25 Td (percent ) Tj ET Q q 0 0 0 rg BT 374.56 353.25 Td (uniformly ) Tj ET Q q 0 0 0 rg BT 417.53 353.25 Td (over ) Tj ET Q q 0 0 0 rg BT 438.28 353.25 Td (3 ) Tj ET Q q 0 0 0 rg BT 446.25 353.25 Td (years ) Tj ET Q q 0 0 0 rg BT 470.33 353.25 Td (and ) Tj ET Q q 0 0 0 rg BT 487.74 353.25 Td (then ) Tj ET Q q 0 0 0 rg BT 507.94 353.25 Td (following ) Tj ET Q q 0 0 0 rg BT 549.80 353.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 341.25 Td (Getzen ) Tj ET Q q 0 0 0 rg BT 80.82 341.25 Td (model ) Tj ET Q q 0 0 0 rg BT 108.31 341.25 Td (thereafter ) Tj ET Q q 0 0 0 rg BT 149.11 341.25 Td (for ) Tj ET Q q 0 0 0 rg BT 163.27 341.25 Td (medical ) Tj ET Q q 0 0 0 rg BT 197.42 341.25 Td (and ) Tj ET Q q 0 0 0 rg BT 214.36 341.25 Td (5 ) Tj ET Q q 0 0 0 rg BT 221.86 341.25 Td (percent ) Tj ET Q q 0 0 0 rg BT 253.78 341.25 Td (per ) Tj ET Q q 0 0 0 rg BT 269.05 341.25 Td (year ) Tj ET Q q 0 0 0 rg BT 288.76 341.25 Td (for ) Tj ET Q q 0 0 0 rg BT 302.92 341.25 Td (dental. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 317.25 Td (The ) Tj ET Q q 0 0 0 rg BT 104.08 317.25 Td (ef) Tj ET Q q 0 0 0 rg BT 111.66 317.25 Td (fect ) Tj ET Q q 0 0 0 rg BT 129.18 317.25 Td (on ) Tj ET Q q 0 0 0 rg BT 141.71 317.25 Td (the ) Tj ET Q q 0 0 0 rg BT 156.45 317.25 Td (medical ) Tj ET Q q 0 0 0 rg BT 190.63 317.25 Td (plan ) Tj ET Q q 0 0 0 rg BT 210.37 317.25 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 253.45 317.25 Td (information ) Tj ET Q q 0 0 0 rg BT 303.19 317.25 Td (of ) Tj ET Q q 0 0 0 rg BT 314.05 317.25 Td (a ) Tj ET Q q 0 0 0 rg BT 321.01 317.25 Td (one ) Tj ET Q q 0 0 0 rg BT 337.98 317.25 Td (percentage ) Tj ET Q q 0 0 0 rg BT 383.81 317.25 Td (point ) Tj ET Q q 0 0 0 rg BT 406.90 317.25 Td (change ) Tj ET Q q 0 0 0 rg BT 437.74 317.25 Td (in ) Tj ET Q q 0 0 0 rg BT 448.05 317.25 Td (the ) Tj ET Q q 0 0 0 rg BT 462.79 317.25 Td (assumed ) Tj ET Q q 0 0 0 rg BT 499.76 317.25 Td (health ) Tj ET Q q 0 0 0 rg BT 526.72 317.25 Td (care ) Tj ET Q q 0 0 0 rg BT 545.89 317.25 Td (cost ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 305.25 Td (trend ) Tj ET Q q 0 0 0 rg BT 73.05 305.25 Td (rate ) Tj ET Q q 0 0 0 rg BT 90.53 305.25 Td (for ) Tj ET Q q 0 0 0 rg BT 104.69 305.25 Td (each ) Tj ET Q q 0 0 0 rg BT 125.51 305.25 Td (future ) Tj ET Q q 0 0 0 rg BT 151.88 305.25 Td (year ) Tj ET Q q 0 0 0 rg BT 171.59 305.25 Td (is ) Tj ET Q q 0 0 0 rg BT 180.76 305.25 Td (shown ) Tj ET Q q 0 0 0 rg BT 209.38 305.25 Td (below) Tj ET Q q 0 0 0 rg BT 233.16 305.25 Td (.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 244.75 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.50 244.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.50 244.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.50 244.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 244.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.50 244.75 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359.5 258.75 m 424.5 258.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428.5 258.75 m 493.5 258.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 258.75 m 562.5 258.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 363.65 273.43 Td (1% Decr) Tj ET Q q 0 0 0 rg BT 401.51 273.43 Td (ease) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 374.10 263.43 Td (in Rates) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.05 273.43 Td (Assumed) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 448.55 263.43 Td (Rates) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 502.75 273.43 Td (1% Incr) Tj ET Q q 0 0 0 rg BT 538.40 273.43 Td (ease) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.10 263.43 Td (in Rates) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 234.42 Td (Aggregated service and interest cost) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.00 234.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.15 234.42 Td (33,106) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 234.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.15 234.42 Td (36,312) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 234.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.15 234.42 Td (40,143) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 219.42 Td (Accumulated post-retirement benefit obligation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.00 219.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.15 219.42 Td (887,617) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.00 219.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.15 219.42 Td (963,015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.00 219.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 219.42 Td (1,052,077) Tj ET Q BT /F1 10.00 Tf ET BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 203.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 191.25 Td (The ) Tj ET Q q 0 0 0 rg BT 104.31 191.25 Td (net ) Tj ET Q q 0 0 0 rg BT 119.28 191.25 Td (periodic ) Tj ET Q q 0 0 0 rg BT 154.81 191.25 Td (post-retirement ) Tj ET Q q 0 0 0 rg BT 218.66 191.25 Td (benefit ) Tj ET Q q 0 0 0 rg BT 249.18 191.25 Td (cost ) Tj ET Q q 0 0 0 rg BT 268.05 191.25 Td (for ) Tj ET Q q 0 0 0 rg BT 282.47 191.25 Td (the ) Tj ET Q q 0 0 0 rg BT 297.45 191.25 Td (year ) Tj ET Q q 0 0 0 rg BT 317.41 191.25 Td (is ) Tj ET Q q 0 0 0 rg BT 326.84 191.25 Td (determined ) Tj ET Q q 0 0 0 rg BT 374.59 191.25 Td (as ) Tj ET Q q 0 0 0 rg BT 385.68 191.25 Td (the ) Tj ET Q q 0 0 0 rg BT 400.65 191.25 Td (sum ) Tj ET Q q 0 0 0 rg BT 420.08 191.25 Td (of ) Tj ET Q q 0 0 0 rg BT 431.17 191.25 Td (service ) Tj ET Q q 0 0 0 rg BT 462.25 191.25 Td (cost ) Tj ET Q q 0 0 0 rg BT 481.12 191.25 Td (for ) Tj ET Q q 0 0 0 rg BT 495.54 191.25 Td (the ) Tj ET Q q 0 0 0 rg BT 510.52 191.25 Td (year) Tj ET Q q 0 0 0 rg BT 527.32 191.25 Td (, ) Tj ET Q q 0 0 0 rg BT 532.58 191.25 Td (interest ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 179.25 Td (on ) Tj ET Q q 0 0 0 rg BT 61.94 179.25 Td (the ) Tj ET Q q 0 0 0 rg BT 76.10 179.25 Td (accumulated ) Tj ET Q q 0 0 0 rg BT 128.57 179.25 Td (post-retirement ) Tj ET Q q 0 0 0 rg BT 191.60 179.25 Td (benefit ) Tj ET Q q 0 0 0 rg BT 221.30 179.25 Td (obligation, ) Tj ET Q q 0 0 0 rg BT 266.29 179.25 Td (and ) Tj ET Q q 0 0 0 rg BT 282.67 179.25 Td (amortization ) Tj ET Q q 0 0 0 rg BT 335.15 179.25 Td (of ) Tj ET Q q 0 0 0 rg BT 345.42 179.25 Td (the ) Tj ET Q q 0 0 0 rg BT 359.58 179.25 Td (transition ) Tj ET Q q 0 0 0 rg BT 399.29 179.25 Td (obligation ) Tj ET Q q 0 0 0 rg BT 441.79 179.25 Td (\(asset\) ) Tj ET Q q 0 0 0 rg BT 469.83 179.25 Td (less ) Tj ET Q q 0 0 0 rg BT 486.77 179.25 Td (previously ) Tj ET Q q 0 0 0 rg BT 530.93 179.25 Td (accrued ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 167.25 Td (expenses ) Tj ET Q q 0 0 0 rg BT 88.60 167.25 Td (over ) Tj ET Q q 0 0 0 rg BT 108.87 167.25 Td (the ) Tj ET Q q 0 0 0 rg BT 123.58 167.25 Td (average ) Tj ET Q q 0 0 0 rg BT 157.17 167.25 Td (remaining ) Tj ET Q q 0 0 0 rg BT 200.21 167.25 Td (service ) Tj ET Q q 0 0 0 rg BT 231.03 167.25 Td (period ) Tj ET Q q 0 0 0 rg BT 259.07 167.25 Td (of ) Tj ET Q q 0 0 0 rg BT 269.90 167.25 Td (employees ) Tj ET Q q 0 0 0 rg BT 315.17 167.25 Td (expected ) Tj ET Q q 0 0 0 rg BT 353.20 167.25 Td (to ) Tj ET Q q 0 0 0 rg BT 363.48 167.25 Td (receive ) Tj ET Q q 0 0 0 rg BT 394.84 167.25 Td (plan ) Tj ET Q q 0 0 0 rg BT 414.56 167.25 Td (benefits. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 143.25 Td (The ) Tj ET Q q 0 0 0 rg BT 104.05 143.25 Td (following ) Tj ET Q q 0 0 0 rg BT 145.43 143.25 Td (is ) Tj ET Q q 0 0 0 rg BT 154.60 143.25 Td (the ) Tj ET Q q 0 0 0 rg BT 169.32 143.25 Td (net ) Tj ET Q q 0 0 0 rg BT 184.04 143.25 Td (periodic ) Tj ET Q q 0 0 0 rg BT 219.30 143.25 Td (post-retirement ) Tj ET Q q 0 0 0 rg BT 282.89 143.25 Td (benefit ) Tj ET Q q 0 0 0 rg BT 313.15 143.25 Td (cost ) Tj ET Q q 0 0 0 rg BT 331.76 143.25 Td (for ) Tj ET Q q 0 0 0 rg BT 345.92 143.25 Td (the ) Tj ET Q q 0 0 0 rg BT 360.64 143.25 Td (years ) Tj ET Q q 0 0 0 rg BT 384.24 143.25 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.61 143.25 Td (December31, ) Tj ET Q q 0 0 0 rg BT 469.20 143.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.20 143.25 Td (:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 131.25 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 131.25 Td ( ) Tj ET Q q 0 0 0 rg BT 122.00 131.25 Td ( ) Tj ET Q q 0 0 0 rg BT 158.00 131.25 Td ( ) Tj ET Q q 0 0 0 rg BT 194.00 131.25 Td ( ) Tj ET Q q 0 0 0 rg BT 230.00 131.25 Td ( ) Tj ET Q q 0 0 0 rg BT 266.00 131.25 Td ( ) Tj ET Q q 0 0 0 rg BT 302.00 131.25 Td ( ) Tj ET Q q 0 0 0 rg BT 338.00 131.25 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 91.75 419.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.50 91.75 90.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 61.75 419.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.50 61.75 90.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469.5 105.75 m 559.5 105.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469.5 61.75 m 559.5 61.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469.5 61.75 m 559.5 61.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469.5 48.75 m 559.5 48.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469.5 46.75 m 559.5 46.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 110.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.00 110.43 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 81.42 Td (Interest cost on accumulated post-retirement benefit obligation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.00 81.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.15 81.42 Td (36,312) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 66.42 Td (Amortization of net losses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.15 66.42 Td (13,231) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 52.43 Td (Net periodic post r) Tj ET Q q 0 0 0 rg BT 132.53 52.43 Td (etir) Tj ET Q q 0 0 0 rg BT 147.33 52.43 Td (ement benefit cost) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.00 52.43 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 528.15 52.43 Td (49,543) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 79 0 obj <> endobj 80 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (39) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 742.10 Td (The ) Tj ET Q q 0 0 0 rg BT 104.05 742.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 145.43 742.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 185.15 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 199.86 742.10 Td (following ) Tj ET Q q 0 0 0 rg BT 241.25 742.10 Td (benefits ) Tj ET Q q 0 0 0 rg BT 275.40 742.10 Td (to ) Tj ET Q q 0 0 0 rg BT 285.68 742.10 Td (be ) Tj ET Q q 0 0 0 rg BT 297.62 742.10 Td (paid ) Tj ET Q q 0 0 0 rg BT 317.34 742.10 Td (in ) Tj ET Q q 0 0 0 rg BT 327.62 742.10 Td (each ) Tj ET Q q 0 0 0 rg BT 348.43 742.10 Td (of ) Tj ET Q q 0 0 0 rg BT 359.26 742.10 Td (the ) Tj ET Q q 0 0 0 rg BT 373.98 742.10 Td (following ) Tj ET Q q 0 0 0 rg BT 415.37 742.10 Td (years:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 731.60 416.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 731.60 94.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 703.60 416.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 703.60 94.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.50 675.60 416.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.50 675.60 94.00 -14.00 re f /GS0 gs BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 722.17 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.00 722.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.15 722.17 Td (55,419) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 708.17 Td (2020) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.00 708.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.15 708.17 Td (77,662) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 694.17 Td (2021) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.00 694.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.15 694.17 Td (79,318) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 680.17 Td (2022) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.00 680.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.15 680.17 Td (80,537) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 666.17 Td (2023) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.00 666.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.15 666.17 Td (81,621) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 652.17 Td (2024 ) Tj ET Q q 0 0 0 rg BT 75.50 652.17 Td (through ) Tj ET Q q 0 0 0 rg BT 109.11 652.17 Td (2028) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.00 652.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.15 652.17 Td (344,848) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 636.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 624.10 Td (For ) Tj ET Q q 0 0 0 rg BT 102.43 624.10 Td (the ) Tj ET Q q 0 0 0 rg BT 117.19 624.10 Td (year ) Tj ET Q q 0 0 0 rg BT 136.93 624.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.35 624.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 221.97 624.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.97 624.10 Td (, ) Tj ET Q q 0 0 0 rg BT 247.01 624.10 Td (net ) Tj ET Q q 0 0 0 rg BT 261.77 624.10 Td (unrecognized ) Tj ET Q q 0 0 0 rg BT 318.17 624.10 Td (actuarial ) Tj ET Q q 0 0 0 rg BT 355.13 624.10 Td (gains, ) Tj ET Q q 0 0 0 rg BT 381.27 624.10 Td (which ) Tj ET Q q 0 0 0 rg BT 408.25 624.10 Td (resulted ) Tj ET Q q 0 0 0 rg BT 442.45 624.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 482.20 624.10 Td (from ) Tj ET Q q 0 0 0 rg BT 504.17 624.10 Td (the ) Tj ET Q q 0 0 0 rg BT 518.93 624.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 554.22 624.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 612.10 Td (the ) Tj ET Q q 0 0 0 rg BT 66.69 612.10 Td (discount ) Tj ET Q q 0 0 0 rg BT 105.06 612.10 Td (rate, ) Tj ET Q q 0 0 0 rg BT 127.02 612.10 Td (increased ) Tj ET Q q 0 0 0 rg BT 169.25 612.10 Td (by ) Tj ET Q q 0 0 0 rg BT 183.73 612.10 Td ($183,297, ) Tj ET Q q 0 0 0 rg BT 228.21 612.10 Td (which ) Tj ET Q q 0 0 0 rg BT 257.12 612.10 Td (represents ) Tj ET Q q 0 0 0 rg BT 302.14 612.10 Td ($170,066 ) Tj ET Q q 0 0 0 rg BT 344.12 612.10 Td (of ) Tj ET Q q 0 0 0 rg BT 356.92 612.10 Td (actuarial ) Tj ET Q q 0 0 0 rg BT 395.82 612.10 Td (gains ) Tj ET Q q 0 0 0 rg BT 421.41 612.10 Td (arising ) Tj ET Q q 0 0 0 rg BT 453.10 612.10 Td (during ) Tj ET Q q 0 0 0 rg BT 483.69 612.10 Td (the ) Tj ET Q q 0 0 0 rg BT 500.38 612.10 Td (year) Tj ET Q q 0 0 0 rg BT 517.19 612.10 Td (, ) Tj ET Q q 0 0 0 rg BT 524.17 612.10 Td (and ) Tj ET Q q 0 0 0 rg BT 543.08 612.10 Td (by ) Tj ET Q q 0 0 0 rg BT 557.56 612.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 600.10 Td (reclassification ) Tj ET Q q 0 0 0 rg BT 113.03 600.10 Td (adjustment ) Tj ET Q q 0 0 0 rg BT 159.41 600.10 Td (of ) Tj ET Q q 0 0 0 rg BT 170.24 600.10 Td ($13,231 ) Tj ET Q q 0 0 0 rg BT 205.24 600.10 Td (that ) Tj ET Q q 0 0 0 rg BT 222.73 600.10 Td (increased ) Tj ET Q q 0 0 0 rg BT 262.99 600.10 Td (the ) Tj ET Q q 0 0 0 rg BT 277.71 600.10 Td (net ) Tj ET Q q 0 0 0 rg BT 292.42 600.10 Td (periodic ) Tj ET Q q 0 0 0 rg BT 327.69 600.10 Td (benefit ) Tj ET Q q 0 0 0 rg BT 357.95 600.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 376.56 600.10 Td (for ) Tj ET Q q 0 0 0 rg BT 390.72 600.10 Td (the ) Tj ET Q q 0 0 0 rg BT 405.43 600.10 Td (year) Tj ET Q q 0 0 0 rg BT 422.09 600.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 588.10 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 576.10 Td (Executive ) Tj ET Q q 0 0 0 rg BT 94.16 576.10 Td (Mandatory ) Tj ET Q q 0 0 0 rg BT 144.99 576.10 Td (Retir) Tj ET Q q 0 0 0 rg BT 167.01 576.10 Td (ement ) Tj ET Q q 0 0 0 rg BT 195.61 576.10 Td (Benefit ) Tj ET Q q 0 0 0 rg BT 228.66 576.10 Td (Plan) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 564.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 552.10 Td (On ) Tj ET Q q 0 0 0 rg BT 100.33 552.10 Td (May ) Tj ET Q q 0 0 0 rg BT 120.76 552.10 Td (5, ) Tj ET Q q 0 0 0 rg BT 130.36 552.10 Td (201) Tj ET Q q 0 0 0 rg BT 144.99 552.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 154.59 552.10 Td (the ) Tj ET Q q 0 0 0 rg BT 168.92 552.10 Td (Board ) Tj ET Q q 0 0 0 rg BT 195.46 552.10 Td (of ) Tj ET Q q 0 0 0 rg BT 205.89 552.10 Td (Directors ) Tj ET Q q 0 0 0 rg BT 245.20 552.10 Td (terminated ) Tj ET Q q 0 0 0 rg BT 290.06 552.10 Td (the ) Tj ET Q q 0 0 0 rg BT 303.92 552.10 Td (Amended ) Tj ET Q q 0 0 0 rg BT 344.90 552.10 Td (and ) Tj ET Q q 0 0 0 rg BT 361.44 552.10 Td (Restated ) Tj ET Q q 0 0 0 rg BT 397.98 552.10 Td (Executive ) Tj ET Q q 0 0 0 rg BT 440.06 552.10 Td (Mandatory ) Tj ET Q q 0 0 0 rg BT 486.04 552.10 Td (Retirement ) Tj ET Q q 0 0 0 rg BT 532.58 552.10 Td (Benefit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 540.10 Td (Plan. ) Tj ET Q q 0 0 0 rg BT 72.60 540.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 90.48 540.10 Td (former ) Tj ET Q q 0 0 0 rg BT 120.01 540.10 Td (President ) Tj ET Q q 0 0 0 rg BT 159.55 540.10 Td (accrued ) Tj ET Q q 0 0 0 rg BT 192.96 540.10 Td (benefits ) Tj ET Q q 0 0 0 rg BT 226.94 540.10 Td (under ) Tj ET Q q 0 0 0 rg BT 252.03 540.10 Td (this ) Tj ET Q q 0 0 0 rg BT 268.80 540.10 Td (plan ) Tj ET Q q 0 0 0 rg BT 288.34 540.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 310.11 540.10 Td (to ) Tj ET Q q 0 0 0 rg BT 320.21 540.10 Td (his ) Tj ET Q q 0 0 0 rg BT 334.20 540.10 Td (retirement, ) Tj ET Q q 0 0 0 rg BT 380.12 540.10 Td (and ) Tj ET Q q 0 0 0 rg BT 396.88 540.10 Td (the ) Tj ET Q q 0 0 0 rg BT 411.42 540.10 Td (termination ) Tj ET Q q 0 0 0 rg BT 459.84 540.10 Td (of ) Tj ET Q q 0 0 0 rg BT 470.50 540.10 Td (this ) Tj ET Q q 0 0 0 rg BT 487.27 540.10 Td (plan ) Tj ET Q q 0 0 0 rg BT 506.81 540.10 Td (has ) Tj ET Q q 0 0 0 rg BT 522.47 540.10 Td (no ) Tj ET Q q 0 0 0 rg BT 534.79 540.10 Td (impact ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 528.10 Td (on ) Tj ET Q q 0 0 0 rg BT 62.75 528.10 Td (his ) Tj ET Q q 0 0 0 rg BT 77.17 528.10 Td (accrued ) Tj ET Q q 0 0 0 rg BT 111.00 528.10 Td (benefits. ) Tj ET Q q 0 0 0 rg BT 147.30 528.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 160.05 528.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 218.88 528.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.88 528.10 Td (, ) Tj ET Q q 0 0 0 rg BT 244.13 528.10 Td (we ) Tj ET Q q 0 0 0 rg BT 258.54 528.10 Td (had ) Tj ET Q q 0 0 0 rg BT 275.73 528.10 Td ($177,391 ) Tj ET Q q 0 0 0 rg BT 315.98 528.10 Td (accrued ) Tj ET Q q 0 0 0 rg BT 349.81 528.10 Td (for ) Tj ET Q q 0 0 0 rg BT 364.22 528.10 Td (benefits ) Tj ET Q q 0 0 0 rg BT 398.62 528.10 Td (for ) Tj ET Q q 0 0 0 rg BT 413.03 528.10 Td (this ) Tj ET Q q 0 0 0 rg BT 430.23 528.10 Td (former ) Tj ET Q q 0 0 0 rg BT 460.18 528.10 Td (employee ) Tj ET Q q 0 0 0 rg BT 501.81 528.10 Td (under ) Tj ET Q q 0 0 0 rg BT 527.32 528.10 Td (the ) Tj ET Q q 0 0 0 rg BT 542.29 528.10 Td (plan, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 516.10 Td (which ) Tj ET Q q 0 0 0 rg BT 76.94 516.10 Td (is ) Tj ET Q q 0 0 0 rg BT 86.11 516.10 Td (included ) Tj ET Q q 0 0 0 rg BT 123.04 516.10 Td (in ) Tj ET Q q 0 0 0 rg BT 133.32 516.10 Td ("Post-retirement ) Tj ET Q q 0 0 0 rg BT 201.55 516.10 Td (plan ) Tj ET Q q 0 0 0 rg BT 221.27 516.10 Td (liabilities" ) Tj ET Q q 0 0 0 rg BT 265.07 516.10 Td (on ) Tj ET Q q 0 0 0 rg BT 277.57 516.10 Td (the ) Tj ET Q q 0 0 0 rg BT 292.29 516.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 339.37 516.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 394.64 516.10 Td (Statement ) Tj ET Q q 0 0 0 rg BT 437.13 516.10 Td (of ) Tj ET Q q 0 0 0 rg BT 447.41 516.10 Td (Assets ) Tj ET Q q 0 0 0 rg BT 476.02 516.10 Td (and ) Tj ET Q q 0 0 0 rg BT 492.96 516.10 Td (Liabilities.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 504.10 Td () Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 50 490.53505859375 m 167.9833984375 490.53505859375 l s q 0 0 0 rg BT 50.00 492.10 Td (NOTE ) Tj ET Q q 0 0 0 rg BT 80.84 492.10 Td (9. ) Tj ET Q q 0 0 0 rg BT 90.84 492.10 Td (INCOME ) Tj ET Q q 0 0 0 rg BT 135.38 492.10 Td (T) Tj ET Q q 0 0 0 rg BT 141.31 492.10 Td (AXES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 480.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 468.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 468.10 Td (e ) Tj ET Q q 0 0 0 rg BT 101.89 468.10 Td (filed ) Tj ET Q q 0 0 0 rg BT 123.03 468.10 Td (for ) Tj ET Q q 0 0 0 rg BT 137.51 468.10 Td (the ) Tj ET Q q 0 0 0 rg BT 152.54 468.10 Td (1999 ) Tj ET Q q 0 0 0 rg BT 175.35 468.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 190.38 468.10 Td (year ) Tj ET Q q 0 0 0 rg BT 210.41 468.10 Td (to ) Tj ET Q q 0 0 0 rg BT 221.00 468.10 Td (elect ) Tj ET Q q 0 0 0 rg BT 242.69 468.10 Td (treatment ) Tj ET Q q 0 0 0 rg BT 283.26 468.10 Td (as ) Tj ET Q q 0 0 0 rg BT 294.41 468.10 Td (a ) Tj ET Q q 0 0 0 rg BT 301.66 468.10 Td (RIC ) Tj ET Q q 0 0 0 rg BT 321.14 468.10 Td (under ) Tj ET Q q 0 0 0 rg BT 346.73 468.10 Td (Subchapter ) Tj ET Q q 0 0 0 rg BT 394.53 468.10 Td (M ) Tj ET Q q 0 0 0 rg BT 406.23 468.10 Td (of ) Tj ET Q q 0 0 0 rg BT 417.38 468.10 Td (the ) Tj ET Q q 0 0 0 rg BT 432.41 468.10 Td (Code ) Tj ET Q q 0 0 0 rg BT 456.33 468.10 Td (and ) Tj ET Q q 0 0 0 rg BT 473.59 468.10 Td (qualified ) Tj ET Q q 0 0 0 rg BT 511.94 468.10 Td (for ) Tj ET Q q 0 0 0 rg BT 526.42 468.10 Td (the ) Tj ET Q q 0 0 0 rg BT 541.45 468.10 Td (same ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 456.10 Td (treatment ) Tj ET Q q 0 0 0 rg BT 90.73 456.10 Td (for ) Tj ET Q q 0 0 0 rg BT 105.35 456.10 Td (the ) Tj ET Q q 0 0 0 rg BT 120.53 456.10 Td (years ) Tj ET Q q 0 0 0 rg BT 144.60 456.10 Td (2000 ) Tj ET Q q 0 0 0 rg BT 167.57 456.10 Td (through ) Tj ET Q q 0 0 0 rg BT 201.64 456.10 Td (2015 ) Tj ET Q q 0 0 0 rg BT 224.61 456.10 Td (and ) Tj ET Q q 0 0 0 rg BT 242.01 456.10 Td (in ) Tj ET Q q 0 0 0 rg BT 252.76 456.10 Td (2017. ) Tj ET Q q 0 0 0 rg BT 278.01 456.10 Td (W) Tj ET Q q 0 0 0 rg BT 286.65 456.10 Td (e ) Tj ET Q q 0 0 0 rg BT 294.05 456.10 Td (did ) Tj ET Q q 0 0 0 rg BT 309.80 456.10 Td (not ) Tj ET Q q 0 0 0 rg BT 325.54 456.10 Td (qualify ) Tj ET Q q 0 0 0 rg BT 356.83 456.10 Td (as ) Tj ET Q q 0 0 0 rg BT 368.13 456.10 Td (a ) Tj ET Q q 0 0 0 rg BT 375.53 456.10 Td (RIC ) Tj ET Q q 0 0 0 rg BT 395.17 456.10 Td (under ) Tj ET Q q 0 0 0 rg BT 420.90 456.10 Td (Subchapter ) Tj ET Q q 0 0 0 rg BT 468.86 456.10 Td (M ) Tj ET Q q 0 0 0 rg BT 480.71 456.10 Td (of ) Tj ET Q q 0 0 0 rg BT 492.01 456.10 Td (the ) Tj ET Q q 0 0 0 rg BT 507.19 456.10 Td (Code ) Tj ET Q q 0 0 0 rg BT 531.27 456.10 Td (in ) Tj ET Q q 0 0 0 rg BT 542.01 456.10 Td (2018 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 444.10 Td (owing ) Tj ET Q q 0 0 0 rg BT 77.46 444.10 Td (to ) Tj ET Q q 0 0 0 rg BT 87.70 444.10 Td (the ) Tj ET Q q 0 0 0 rg BT 102.38 444.10 Td (failure ) Tj ET Q q 0 0 0 rg BT 130.94 444.10 Td (of ) Tj ET Q q 0 0 0 rg BT 141.73 444.10 Td (the ) Tj ET Q q 0 0 0 rg BT 156.41 444.10 Td (50 ) Tj ET Q q 0 0 0 rg BT 168.87 444.10 Td (percent ) Tj ET Q q 0 0 0 rg BT 200.76 444.10 Td (Diversification ) Tj ET Q q 0 0 0 rg BT 263.02 444.10 Td (T) Tj ET Q q 0 0 0 rg BT 268.43 444.10 Td (est ) Tj ET Q q 0 0 0 rg BT 282.00 444.10 Td (as ) Tj ET Q q 0 0 0 rg BT 292.80 444.10 Td (of ) Tj ET Q q 0 0 0 rg BT 303.59 444.10 Td (the ) Tj ET Q q 0 0 0 rg BT 318.27 444.10 Td (end ) Tj ET Q q 0 0 0 rg BT 335.17 444.10 Td (of ) Tj ET Q q 0 0 0 rg BT 345.96 444.10 Td (the ) Tj ET Q q 0 0 0 rg BT 360.64 444.10 Td (first ) Tj ET Q q 0 0 0 rg BT 379.21 444.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 409.99 444.10 Td (of ) Tj ET Q q 0 0 0 rg BT 420.78 444.10 Td (2018. ) Tj ET Q q 0 0 0 rg BT 445.57 444.10 Td (W) Tj ET Q q 0 0 0 rg BT 454.20 444.10 Td (e ) Tj ET Q q 0 0 0 rg BT 461.10 444.10 Td (will ) Tj ET Q q 0 0 0 rg BT 479.12 444.10 Td (therefore ) Tj ET Q q 0 0 0 rg BT 517.67 444.10 Td (be ) Tj ET Q q 0 0 0 rg BT 529.57 444.10 Td (taxed ) Tj ET Q q 0 0 0 rg BT 553.69 444.10 Td (as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 432.10 Td (a ) Tj ET Q q 0 0 0 rg BT 57.06 432.10 Td (C ) Tj ET Q q 0 0 0 rg BT 66.36 432.10 Td (Corporation ) Tj ET Q q 0 0 0 rg BT 117.31 432.10 Td (for ) Tj ET Q q 0 0 0 rg BT 131.60 432.10 Td (2018. ) Tj ET Q q 0 0 0 rg BT 156.53 432.10 Td (W) Tj ET Q q 0 0 0 rg BT 165.17 432.10 Td (e ) Tj ET Q q 0 0 0 rg BT 172.24 432.10 Td (did ) Tj ET Q q 0 0 0 rg BT 187.64 432.10 Td (not ) Tj ET Q q 0 0 0 rg BT 203.04 432.10 Td (have ) Tj ET Q q 0 0 0 rg BT 224.55 432.10 Td (any ) Tj ET Q q 0 0 0 rg BT 241.61 432.10 Td (taxable ) Tj ET Q q 0 0 0 rg BT 273.11 432.10 Td (income ) Tj ET Q q 0 0 0 rg BT 305.17 432.10 Td (in ) Tj ET Q q 0 0 0 rg BT 315.57 432.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 340.70 432.10 Td (so ) Tj ET Q q 0 0 0 rg BT 352.22 432.10 Td (this ) Tj ET Q q 0 0 0 rg BT 369.29 432.10 Td (failure ) Tj ET Q q 0 0 0 rg BT 398.01 432.10 Td (to ) Tj ET Q q 0 0 0 rg BT 408.42 432.10 Td (qualify ) Tj ET Q q 0 0 0 rg BT 439.37 432.10 Td (as ) Tj ET Q q 0 0 0 rg BT 450.32 432.10 Td (a ) Tj ET Q q 0 0 0 rg BT 457.39 432.10 Td (RIC ) Tj ET Q q 0 0 0 rg BT 476.68 432.10 Td (did ) Tj ET Q q 0 0 0 rg BT 492.09 432.10 Td (not ) Tj ET Q q 0 0 0 rg BT 507.49 432.10 Td (result ) Tj ET Q q 0 0 0 rg BT 532.33 432.10 Td (in ) Tj ET Q q 0 0 0 rg BT 542.74 432.10 Td (a ) Tj ET Q q 0 0 0 rg BT 549.80 432.10 Td (tax ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 420.10 Td (liability) Tj ET Q q 0 0 0 rg BT 80.46 420.10 Td (. ) Tj ET Q q 0 0 0 rg BT 85.57 420.10 Td ( ) Tj ET Q q 0 0 0 rg BT 88.18 420.10 Td ( ) Tj ET Q q 0 0 0 rg BT 90.22 420.10 Td (As ) Tj ET Q q 0 0 0 rg BT 103.94 420.10 Td (a ) Tj ET Q q 0 0 0 rg BT 110.99 420.10 Td (C ) Tj ET Q q 0 0 0 rg BT 120.27 420.10 Td (Corporation, ) Tj ET Q q 0 0 0 rg BT 173.71 420.10 Td (we ) Tj ET Q q 0 0 0 rg BT 187.98 420.10 Td (are ) Tj ET Q q 0 0 0 rg BT 202.80 420.10 Td (permitted ) Tj ET Q q 0 0 0 rg BT 243.73 420.10 Td (to ) Tj ET Q q 0 0 0 rg BT 254.12 420.10 Td (use ) Tj ET Q q 0 0 0 rg BT 270.06 420.10 Td (historical ) Tj ET Q q 0 0 0 rg BT 309.88 420.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 350.26 420.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 368.43 420.10 Td (carryforwards ) Tj ET Q q 0 0 0 rg BT 427.12 420.10 Td (to ) Tj ET Q q 0 0 0 rg BT 437.51 420.10 Td (of) Tj ET Q q 0 0 0 rg BT 445.66 420.10 Td (fset ) Tj ET Q q 0 0 0 rg BT 462.71 420.10 Td (income ) Tj ET Q q 0 0 0 rg BT 494.76 420.10 Td (and ) Tj ET Q q 0 0 0 rg BT 511.81 420.10 Td (gains ) Tj ET Q q 0 0 0 rg BT 535.53 420.10 Td (for ) Tj ET Q q 0 0 0 rg BT 549.80 420.10 Td (tax ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 408.10 Td (purposes. ) Tj ET Q q 0 0 0 rg BT 90.89 408.10 Td ( ) Tj ET Q q 0 0 0 rg BT 93.10 408.10 Td (As ) Tj ET Q q 0 0 0 rg BT 107.05 408.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.21 408.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 177.13 408.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.13 408.10 Td (, ) Tj ET Q q 0 0 0 rg BT 202.47 408.10 Td (we ) Tj ET Q q 0 0 0 rg BT 216.96 408.10 Td (had ) Tj ET Q q 0 0 0 rg BT 234.24 408.10 Td (approximately ) Tj ET Q q 0 0 0 rg BT 294.83 408.10 Td ($71 ) Tj ET Q q 0 0 0 rg BT 312.67 408.10 Td (million ) Tj ET Q q 0 0 0 rg BT 344.40 408.10 Td (in ) Tj ET Q q 0 0 0 rg BT 355.01 408.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 395.61 408.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 414.01 408.10 Td (carryforwards ) Tj ET Q q 0 0 0 rg BT 472.92 408.10 Td (that ) Tj ET Q q 0 0 0 rg BT 490.75 408.10 Td (begin ) Tj ET Q q 0 0 0 rg BT 515.81 408.10 Td (to ) Tj ET Q q 0 0 0 rg BT 526.42 408.10 Td (expire ) Tj ET Q q 0 0 0 rg BT 554.24 408.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 396.10 Td (2026. ) Tj ET Q q 0 0 0 rg BT 75.00 396.10 Td (Pre-enactment ) Tj ET Q q 0 0 0 rg BT 135.25 396.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 153.31 396.10 Td (carryforwards ) Tj ET Q q 0 0 0 rg BT 211.89 396.10 Td (totaling ) Tj ET Q q 0 0 0 rg BT 244.94 396.10 Td ($3.9 ) Tj ET Q q 0 0 0 rg BT 264.94 396.10 Td (million ) Tj ET Q q 0 0 0 rg BT 296.33 396.10 Td (expired ) Tj ET Q q 0 0 0 rg BT 328.82 396.10 Td (unused ) Tj ET Q q 0 0 0 rg BT 359.65 396.10 Td (in ) Tj ET Q q 0 0 0 rg BT 369.93 396.10 Td (2018.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 376.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 376.10 Td (e ) Tj ET Q q 0 0 0 rg BT 102.32 376.10 Td (note ) Tj ET Q q 0 0 0 rg BT 122.79 376.10 Td (that ) Tj ET Q q 0 0 0 rg BT 141.03 376.10 Td (our ) Tj ET Q q 0 0 0 rg BT 157.61 376.10 Td (ownership ) Tj ET Q q 0 0 0 rg BT 202.52 376.10 Td (of ) Tj ET Q q 0 0 0 rg BT 214.10 376.10 Td (D-W) Tj ET Q q 0 0 0 rg BT 233.29 376.10 Td (ave ) Tj ET Q q 0 0 0 rg BT 250.41 376.10 Td (Systems, ) Tj ET Q q 0 0 0 rg BT 289.50 376.10 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 308.02 376.10 Td (is ) Tj ET Q q 0 0 0 rg BT 317.94 376.10 Td (currently ) Tj ET Q q 0 0 0 rg BT 357.28 376.10 Td (held ) Tj ET Q q 0 0 0 rg BT 377.75 376.10 Td (through ) Tj ET Q q 0 0 0 rg BT 412.10 376.10 Td (Parallel ) Tj ET Q q 0 0 0 rg BT 445.89 376.10 Td (Universes, ) Tj ET Q q 0 0 0 rg BT 491.63 376.10 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 512.65 376.10 Td (which ) Tj ET Q q 0 0 0 rg BT 540.34 376.10 Td (holds ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 364.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 77.51 364.10 Td (of ) Tj ET Q q 0 0 0 rg BT 88.35 364.10 Td (D-W) Tj ET Q q 0 0 0 rg BT 107.54 364.10 Td (ave ) Tj ET Q q 0 0 0 rg BT 123.94 364.10 Td (Systems, ) Tj ET Q q 0 0 0 rg BT 162.29 364.10 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 180.08 364.10 Td (through ) Tj ET Q q 0 0 0 rg BT 213.70 364.10 Td (a ) Tj ET Q q 0 0 0 rg BT 220.65 364.10 Td (Canadian ) Tj ET Q q 0 0 0 rg BT 260.93 364.10 Td (limited ) Tj ET Q q 0 0 0 rg BT 291.78 364.10 Td (company) Tj ET Q q 0 0 0 rg BT 327.79 364.10 Td (, ) Tj ET Q q 0 0 0 rg BT 332.80 364.10 Td (4169841 ) Tj ET Q q 0 0 0 rg BT 370.32 364.10 Td (Canada ) Tj ET Q q 0 0 0 rg BT 402.82 364.10 Td (Ltd. ) Tj ET Q q 0 0 0 rg BT 421.72 364.10 Td (\("CanCo"\). ) Tj ET Q q 0 0 0 rg BT 469.34 364.10 Td ( ) Tj ET Q q 0 0 0 rg BT 471.68 364.10 Td (W) Tj ET Q q 0 0 0 rg BT 480.31 364.10 Td (e ) Tj ET Q q 0 0 0 rg BT 487.27 364.10 Td (have ) Tj ET Q q 0 0 0 rg BT 508.66 364.10 Td (rights ) Tj ET Q q 0 0 0 rg BT 533.96 364.10 Td (to ) Tj ET Q q 0 0 0 rg BT 544.25 364.10 Td (seek ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 352.10 Td (a ) Tj ET Q q 0 0 0 rg BT 57.30 352.10 Td (reor) Tj ET Q q 0 0 0 rg BT 73.22 352.10 Td (ganization ) Tj ET Q q 0 0 0 rg BT 117.74 352.10 Td (of ) Tj ET Q q 0 0 0 rg BT 128.94 352.10 Td (D-W) Tj ET Q q 0 0 0 rg BT 148.13 352.10 Td (ave ) Tj ET Q q 0 0 0 rg BT 164.87 352.10 Td (Systems, ) Tj ET Q q 0 0 0 rg BT 203.57 352.10 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 221.71 352.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 244.58 352.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 274.64 352.10 Td (events ) Tj ET Q q 0 0 0 rg BT 303.06 352.10 Td (including ) Tj ET Q q 0 0 0 rg BT 343.70 352.10 Td (a ) Tj ET Q q 0 0 0 rg BT 351.00 352.10 Td (sale ) Tj ET Q q 0 0 0 rg BT 369.41 352.10 Td (and/or ) Tj ET Q q 0 0 0 rg BT 397.83 352.10 Td (an ) Tj ET Q q 0 0 0 rg BT 410.13 352.10 Td (initial ) Tj ET Q q 0 0 0 rg BT 436.33 352.10 Td (public ) Tj ET Q q 0 0 0 rg BT 464.19 352.10 Td (of) Tj ET Q q 0 0 0 rg BT 472.34 352.10 Td (fering ) Tj ET Q q 0 0 0 rg BT 499.08 352.10 Td (of ) Tj ET Q q 0 0 0 rg BT 510.28 352.10 Td (the ) Tj ET Q q 0 0 0 rg BT 525.36 352.10 Td (company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 340.10 Td (that ) Tj ET Q q 0 0 0 rg BT 67.45 340.10 Td (we ) Tj ET Q q 0 0 0 rg BT 81.56 340.10 Td (currently ) Tj ET Q q 0 0 0 rg BT 120.10 340.10 Td (believe ) Tj ET Q q 0 0 0 rg BT 151.43 340.10 Td (will ) Tj ET Q q 0 0 0 rg BT 169.43 340.10 Td (enable ) Tj ET Q q 0 0 0 rg BT 197.98 340.10 Td (us ) Tj ET Q q 0 0 0 rg BT 209.32 340.10 Td (to ) Tj ET Q q 0 0 0 rg BT 219.55 340.10 Td (use ) Tj ET Q q 0 0 0 rg BT 235.33 340.10 Td (our ) Tj ET Q q 0 0 0 rg BT 251.11 340.10 Td (accumulated ) Tj ET Q q 0 0 0 rg BT 304.09 340.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 344.31 340.10 Td (and ) Tj ET Q q 0 0 0 rg BT 361.20 340.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 390.30 340.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 408.31 340.10 Td (carryforwards ) Tj ET Q q 0 0 0 rg BT 466.84 340.10 Td (to ) Tj ET Q q 0 0 0 rg BT 477.07 340.10 Td (of) Tj ET Q q 0 0 0 rg BT 485.22 340.10 Td (fset ) Tj ET Q q 0 0 0 rg BT 502.11 340.10 Td (any ) Tj ET Q q 0 0 0 rg BT 519.00 340.10 Td (gains ) Tj ET Q q 0 0 0 rg BT 542.56 340.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 328.10 Td (that ) Tj ET Q q 0 0 0 rg BT 67.35 328.10 Td (investment. ) Tj ET Q q 0 0 0 rg BT 116.10 328.10 Td ( ) Tj ET Q q 0 0 0 rg BT 118.46 328.10 Td (Should ) Tj ET Q q 0 0 0 rg BT 149.16 328.10 Td (we ) Tj ET Q q 0 0 0 rg BT 163.18 328.10 Td (decide ) Tj ET Q q 0 0 0 rg BT 191.63 328.10 Td (to ) Tj ET Q q 0 0 0 rg BT 201.77 328.10 Td (sell ) Tj ET Q q 0 0 0 rg BT 218.01 328.10 Td (our ) Tj ET Q q 0 0 0 rg BT 233.70 328.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 261.05 328.10 Td (of ) Tj ET Q q 0 0 0 rg BT 271.74 328.10 Td (D-W) Tj ET Q q 0 0 0 rg BT 290.93 328.10 Td (ave ) Tj ET Q q 0 0 0 rg BT 307.17 328.10 Td (Systems, ) Tj ET Q q 0 0 0 rg BT 345.37 328.10 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 365.50 328.10 Td (ahead ) Tj ET Q q 0 0 0 rg BT 391.17 328.10 Td (of ) Tj ET Q q 0 0 0 rg BT 401.86 328.10 Td (such ) Tj ET Q q 0 0 0 rg BT 422.55 328.10 Td (reor) Tj ET Q q 0 0 0 rg BT 438.47 328.10 Td (ganization ) Tj ET Q q 0 0 0 rg BT 482.48 328.10 Td (or ) Tj ET Q q 0 0 0 rg BT 493.17 328.10 Td (if ) Tj ET Q q 0 0 0 rg BT 501.64 328.10 Td (we ) Tj ET Q q 0 0 0 rg BT 515.66 328.10 Td (are ) Tj ET Q q 0 0 0 rg BT 530.23 328.10 Td (not ) Tj ET Q q 0 0 0 rg BT 545.37 328.10 Td (able ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 316.10 Td (to ) Tj ET Q q 0 0 0 rg BT 60.50 316.10 Td (complete ) Tj ET Q q 0 0 0 rg BT 99.87 316.10 Td (such ) Tj ET Q q 0 0 0 rg BT 120.92 316.10 Td (reor) Tj ET Q q 0 0 0 rg BT 136.83 316.10 Td (ganization ) Tj ET Q q 0 0 0 rg BT 181.20 316.10 Td (due ) Tj ET Q q 0 0 0 rg BT 198.36 316.10 Td (to ) Tj ET Q q 0 0 0 rg BT 208.86 316.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 243.78 316.10 Td (in ) Tj ET Q q 0 0 0 rg BT 254.28 316.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 269.21 316.10 Td (laws ) Tj ET Q q 0 0 0 rg BT 290.26 316.10 Td (or ) Tj ET Q q 0 0 0 rg BT 301.31 316.10 Td (other ) Tj ET Q q 0 0 0 rg BT 324.58 316.10 Td (factors, ) Tj ET Q q 0 0 0 rg BT 357.00 316.10 Td (our ) Tj ET Q q 0 0 0 rg BT 373.05 316.10 Td (returns ) Tj ET Q q 0 0 0 rg BT 403.54 316.10 Td (on ) Tj ET Q q 0 0 0 rg BT 416.26 316.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 462.86 316.10 Td (may ) Tj ET Q q 0 0 0 rg BT 482.79 316.10 Td (be ) Tj ET Q q 0 0 0 rg BT 494.95 316.10 Td (decreased ) Tj ET Q q 0 0 0 rg BT 537.08 316.10 Td (due ) Tj ET Q q 0 0 0 rg BT 554.24 316.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 304.10 Td (taxation ) Tj ET Q q 0 0 0 rg BT 84.95 304.10 Td (at ) Tj ET Q q 0 0 0 rg BT 94.90 304.10 Td (the ) Tj ET Q q 0 0 0 rg BT 109.85 304.10 Td (Parallel ) Tj ET Q q 0 0 0 rg BT 143.12 304.10 Td (Universes, ) Tj ET Q q 0 0 0 rg BT 188.34 304.10 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 206.35 304.10 Td (and/or ) Tj ET Q q 0 0 0 rg BT 234.63 304.10 Td (CanCo ) Tj ET Q q 0 0 0 rg BT 265.14 304.10 Td (entity ) Tj ET Q q 0 0 0 rg BT 290.65 304.10 Td (levels. ) Tj ET Q q 0 0 0 rg BT 319.20 304.10 Td ( ) Tj ET Q q 0 0 0 rg BT 321.74 304.10 Td (W) Tj ET Q q 0 0 0 rg BT 330.38 304.10 Td (e ) Tj ET Q q 0 0 0 rg BT 337.55 304.10 Td (do ) Tj ET Q q 0 0 0 rg BT 350.28 304.10 Td (not ) Tj ET Q q 0 0 0 rg BT 365.79 304.10 Td (currently ) Tj ET Q q 0 0 0 rg BT 404.62 304.10 Td (plan ) Tj ET Q q 0 0 0 rg BT 424.57 304.10 Td (to ) Tj ET Q q 0 0 0 rg BT 435.08 304.10 Td (sell ) Tj ET Q q 0 0 0 rg BT 451.70 304.10 Td (our ) Tj ET Q q 0 0 0 rg BT 467.77 304.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 495.49 304.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 517.66 304.10 Td (to ) Tj ET Q q 0 0 0 rg BT 528.17 304.10 Td (an ) Tj ET Q q 0 0 0 rg BT 540.35 304.10 Td (event ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 292.10 Td (that ) Tj ET Q q 0 0 0 rg BT 67.50 292.10 Td (would ) Tj ET Q q 0 0 0 rg BT 95.00 292.10 Td (trigger ) Tj ET Q q 0 0 0 rg BT 124.15 292.10 Td (our ) Tj ET Q q 0 0 0 rg BT 139.98 292.10 Td (reor) Tj ET Q q 0 0 0 rg BT 155.90 292.10 Td (ganization ) Tj ET Q q 0 0 0 rg BT 200.05 292.10 Td (rights.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 272.10 Td (The ) Tj ET Q q 0 0 0 rg BT 104.08 272.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 151.20 272.10 Td (status ) Tj ET Q q 0 0 0 rg BT 176.51 272.10 Td (as ) Tj ET Q q 0 0 0 rg BT 187.37 272.10 Td (a ) Tj ET Q q 0 0 0 rg BT 194.34 272.10 Td (RIC ) Tj ET Q q 0 0 0 rg BT 213.55 272.10 Td (is ) Tj ET Q q 0 0 0 rg BT 222.75 272.10 Td (irrevocable, ) Tj ET Q q 0 0 0 rg BT 272.76 272.10 Td (but ) Tj ET Q q 0 0 0 rg BT 288.07 272.10 Td (qualification ) Tj ET Q q 0 0 0 rg BT 341.14 272.10 Td (is ) Tj ET Q q 0 0 0 rg BT 350.35 272.10 Td (measured ) Tj ET Q q 0 0 0 rg BT 391.20 272.10 Td (annually) Tj ET Q q 0 0 0 rg BT 424.98 272.10 Td (. ) Tj ET Q q 0 0 0 rg BT 430.01 272.10 Td ( ) Tj ET Q q 0 0 0 rg BT 432.55 272.10 Td (Given ) Tj ET Q q 0 0 0 rg BT 459.52 272.10 Td (the ) Tj ET Q q 0 0 0 rg BT 474.27 272.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 521.39 272.10 Td (status ) Tj ET Q q 0 0 0 rg BT 546.70 272.10 Td (as ) Tj ET Q q 0 0 0 rg BT 557.56 272.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 260.10 Td (RIC ) Tj ET Q q 0 0 0 rg BT 68.60 260.10 Td (and ) Tj ET Q q 0 0 0 rg BT 84.96 260.10 Td (the ) Tj ET Q q 0 0 0 rg BT 99.10 260.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 126.58 260.10 Td (or ) Tj ET Q q 0 0 0 rg BT 136.84 260.10 Td (inability ) Tj ET Q q 0 0 0 rg BT 172.09 260.10 Td (to ) Tj ET Q q 0 0 0 rg BT 181.80 260.10 Td (use ) Tj ET Q q 0 0 0 rg BT 197.06 260.10 Td (such ) Tj ET Q q 0 0 0 rg BT 217.31 260.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 257.00 260.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 274.49 260.10 Td (carryforwards ) Tj ET Q q 0 0 0 rg BT 332.50 260.10 Td (depends ) Tj ET Q q 0 0 0 rg BT 367.19 260.10 Td (on ) Tj ET Q q 0 0 0 rg BT 379.12 260.10 Td (qualification ) Tj ET Q q 0 0 0 rg BT 431.58 260.10 Td (metrics ) Tj ET Q q 0 0 0 rg BT 462.94 260.10 Td (measured ) Tj ET Q q 0 0 0 rg BT 503.18 260.10 Td (in ) Tj ET Q q 0 0 0 rg BT 512.89 260.10 Td (each ) Tj ET Q q 0 0 0 rg BT 533.13 260.10 Td (taxable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 248.10 Td (year ) Tj ET Q q 0 0 0 rg BT 69.77 248.10 Td (separate ) Tj ET Q q 0 0 0 rg BT 105.10 248.10 Td (from ) Tj ET Q q 0 0 0 rg BT 127.10 248.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 149.11 248.10 Td (years, ) Tj ET Q q 0 0 0 rg BT 175.27 248.10 Td (it ) Tj ET Q q 0 0 0 rg BT 183.40 248.10 Td (does ) Tj ET Q q 0 0 0 rg BT 204.29 248.10 Td (not ) Tj ET Q q 0 0 0 rg BT 219.64 248.10 Td (include ) Tj ET Q q 0 0 0 rg BT 251.64 248.10 Td (a ) Tj ET Q q 0 0 0 rg BT 258.65 248.10 Td (deferred ) Tj ET Q q 0 0 0 rg BT 294.52 248.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 309.30 248.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 331.31 248.10 Td (and ) Tj ET Q q 0 0 0 rg BT 348.32 248.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 388.10 248.10 Td (allowance ) Tj ET Q q 0 0 0 rg BT 431.20 248.10 Td (on ) Tj ET Q q 0 0 0 rg BT 443.76 248.10 Td (its ) Tj ET Q q 0 0 0 rg BT 455.78 248.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 511.12 248.10 Td (Statement ) Tj ET Q q 0 0 0 rg BT 553.68 248.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 236.10 Td (Assets ) Tj ET Q q 0 0 0 rg BT 78.61 236.10 Td (and ) Tj ET Q q 0 0 0 rg BT 95.55 236.10 Td (Liabilities. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 216.10 Td (For ) Tj ET Q q 0 0 0 rg BT 101.94 216.10 Td (federal ) Tj ET Q q 0 0 0 rg BT 131.75 216.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 146.02 216.10 Td (purposes, ) Tj ET Q q 0 0 0 rg BT 186.13 216.10 Td (the ) Tj ET Q q 0 0 0 rg BT 200.40 216.10 Td (Company) Tj ET Q q 0 0 0 rg BT 242.06 216.10 Td (s ) Tj ET Q q 0 0 0 rg BT 248.01 216.10 Td (2015 ) Tj ET Q q 0 0 0 rg BT 270.06 216.10 Td (through ) Tj ET Q q 0 0 0 rg BT 303.22 216.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 325.27 216.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 339.54 216.10 Td (years ) Tj ET Q q 0 0 0 rg BT 362.70 216.10 Td (remain ) Tj ET Q q 0 0 0 rg BT 392.51 216.10 Td (open ) Tj ET Q q 0 0 0 rg BT 414.01 216.10 Td (for ) Tj ET Q q 0 0 0 rg BT 427.72 216.10 Td (examination ) Tj ET Q q 0 0 0 rg BT 479.20 216.10 Td (by ) Tj ET Q q 0 0 0 rg BT 491.25 216.10 Td (the ) Tj ET Q q 0 0 0 rg BT 505.52 216.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 519.79 216.10 Td (authorities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 204.10 Td (under ) Tj ET Q q 0 0 0 rg BT 75.12 204.10 Td (the ) Tj ET Q q 0 0 0 rg BT 89.70 204.10 Td (normal ) Tj ET Q q 0 0 0 rg BT 120.38 204.10 Td (three-year ) Tj ET Q q 0 0 0 rg BT 163.25 204.10 Td (statute ) Tj ET Q q 0 0 0 rg BT 191.71 204.10 Td (of ) Tj ET Q q 0 0 0 rg BT 202.40 204.10 Td (limitations. ) Tj ET Q q 0 0 0 rg BT 250.03 204.10 Td ( ) Tj ET Q q 0 0 0 rg BT 252.38 204.10 Td (Generally) Tj ET Q q 0 0 0 rg BT 291.16 204.10 Td (, ) Tj ET Q q 0 0 0 rg BT 296.01 204.10 Td (for ) Tj ET Q q 0 0 0 rg BT 310.03 204.10 Td (state ) Tj ET Q q 0 0 0 rg BT 330.71 204.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 345.28 204.10 Td (purposes, ) Tj ET Q q 0 0 0 rg BT 385.69 204.10 Td (the ) Tj ET Q q 0 0 0 rg BT 400.26 204.10 Td (Company) Tj ET Q q 0 0 0 rg BT 441.92 204.10 Td (s ) Tj ET Q q 0 0 0 rg BT 448.17 204.10 Td (2014 ) Tj ET Q q 0 0 0 rg BT 470.53 204.10 Td (through ) Tj ET Q q 0 0 0 rg BT 503.99 204.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 526.34 204.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 540.92 204.10 Td (years ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 192.10 Td (remain ) Tj ET Q q 0 0 0 rg BT 80.26 192.10 Td (open ) Tj ET Q q 0 0 0 rg BT 102.20 192.10 Td (for ) Tj ET Q q 0 0 0 rg BT 116.36 192.10 Td (examination ) Tj ET Q q 0 0 0 rg BT 168.29 192.10 Td (by ) Tj ET Q q 0 0 0 rg BT 180.79 192.10 Td (the ) Tj ET Q q 0 0 0 rg BT 195.51 192.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 210.22 192.10 Td (authorities ) Tj ET Q q 0 0 0 rg BT 254.94 192.10 Td (under ) Tj ET Q q 0 0 0 rg BT 280.21 192.10 Td (a ) Tj ET Q q 0 0 0 rg BT 287.14 192.10 Td (four) Tj ET Q q 0 0 0 rg BT 303.60 192.10 Td (-year ) Tj ET Q q 0 0 0 rg BT 326.64 192.10 Td (statute ) Tj ET Q q 0 0 0 rg BT 355.24 192.10 Td (of ) Tj ET Q q 0 0 0 rg BT 366.07 192.10 Td (limitations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 172.10 Td (For ) Tj ET Q q 0 0 0 rg BT 102.85 172.10 Td (the ) Tj ET Q q 0 0 0 rg BT 118.03 172.10 Td (year ) Tj ET Q q 0 0 0 rg BT 138.20 172.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 165.04 172.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 224.08 172.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.08 172.10 Td (, ) Tj ET Q q 0 0 0 rg BT 249.54 172.10 Td (the ) Tj ET Q q 0 0 0 rg BT 264.72 172.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 306.57 172.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 344.51 172.10 Td (a ) Tj ET Q q 0 0 0 rg BT 351.91 172.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 405.41 172.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 440.58 172.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.87 172.10 Td ($6,003) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.37 172.10 Td ( ) Tj ET Q q 0 0 0 rg BT 482.33 172.10 Td (in ) Tj ET Q q 0 0 0 rg BT 493.07 172.10 Td (federal, ) Tj ET Q q 0 0 0 rg BT 526.29 172.10 Td (state ) Tj ET Q q 0 0 0 rg BT 547.57 172.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 160.10 Td (local ) Tj ET Q q 0 0 0 rg BT 71.93 160.10 Td (income ) Tj ET Q q 0 0 0 rg BT 103.87 160.10 Td (taxes. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 140.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 140.10 Td (e ) Tj ET Q q 0 0 0 rg BT 102.47 140.10 Td (pay ) Tj ET Q q 0 0 0 rg BT 120.31 140.10 Td (federal, ) Tj ET Q q 0 0 0 rg BT 153.96 140.10 Td (state ) Tj ET Q q 0 0 0 rg BT 175.68 140.10 Td (and ) Tj ET Q q 0 0 0 rg BT 193.51 140.10 Td (local ) Tj ET Q q 0 0 0 rg BT 216.34 140.10 Td (taxes ) Tj ET Q q 0 0 0 rg BT 240.28 140.10 Td (on ) Tj ET Q q 0 0 0 rg BT 253.68 140.10 Td (behalf ) Tj ET Q q 0 0 0 rg BT 282.06 140.10 Td (of ) Tj ET Q q 0 0 0 rg BT 293.54 140.10 Td (V) Tj ET Q q 0 0 0 rg BT 299.66 140.10 Td (entures, ) Tj ET Q q 0 0 0 rg BT 334.43 140.10 Td (which ) Tj ET Q q 0 0 0 rg BT 362.26 140.10 Td (is ) Tj ET Q q 0 0 0 rg BT 372.33 140.10 Td (taxed ) Tj ET Q q 0 0 0 rg BT 397.38 140.10 Td (as ) Tj ET Q q 0 0 0 rg BT 409.11 140.10 Td (a ) Tj ET Q q 0 0 0 rg BT 416.94 140.10 Td (C ) Tj ET Q q 0 0 0 rg BT 427.01 140.10 Td (Corporation. ) Tj ET Q q 0 0 0 rg BT 481.23 140.10 Td ( ) Tj ET Q q 0 0 0 rg BT 484.62 140.10 Td (For ) Tj ET Q q 0 0 0 rg BT 501.91 140.10 Td (the ) Tj ET Q q 0 0 0 rg BT 517.52 140.10 Td (year ) Tj ET Q q 0 0 0 rg BT 538.13 140.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 128.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 108.58 128.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.58 128.10 Td (, ) Tj ET Q q 0 0 0 rg BT 133.58 128.10 Td (our ) Tj ET Q q 0 0 0 rg BT 149.41 128.10 Td (income ) Tj ET Q q 0 0 0 rg BT 181.35 128.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 196.06 128.10 Td (benefit ) Tj ET Q q 0 0 0 rg BT 226.33 128.10 Td (for ) Tj ET Q q 0 0 0 rg BT 240.31 128.10 Td (V) Tj ET Q q 0 0 0 rg BT 246.42 128.10 Td (entures ) Tj ET Q q 0 0 0 rg BT 277.80 128.10 Td (was ) Tj ET Q q 0 0 0 rg BT 295.85 128.10 Td ($1,664.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 108.10 Td (For ) Tj ET Q q 0 0 0 rg BT 104.00 108.10 Td (the ) Tj ET Q q 0 0 0 rg BT 120.32 108.10 Td (year ) Tj ET Q q 0 0 0 rg BT 141.64 108.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.62 108.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 229.81 108.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.81 108.10 Td (, ) Tj ET Q q 0 0 0 rg BT 256.42 108.10 Td (the ) Tj ET Q q 0 0 0 rg BT 272.74 108.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 315.74 108.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 354.82 108.10 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 397.79 108.10 Td (unrealized ) Tj ET Q q 0 0 0 rg BT 443.53 108.10 Td (appreciation ) Tj ET Q q 0 0 0 rg BT 497.06 108.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.50 108.10 Td ($23,390,333) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.50 108.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 96.10 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 92.44 96.10 Td (unrealized ) Tj ET Q q 0 0 0 rg BT 137.66 96.10 Td (depreciation ) Tj ET Q q 0 0 0 rg BT 190.65 96.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.56 96.10 Td ($30,910,044) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.56 96.10 Td ( ) Tj ET Q q 0 0 0 rg BT 256.14 96.10 Td (and ) Tj ET Q q 0 0 0 rg BT 274.15 96.10 Td (net ) Tj ET Q q 0 0 0 rg BT 289.94 96.10 Td (unrealized ) Tj ET Q q 0 0 0 rg BT 335.16 96.10 Td (depreciation ) Tj ET Q q 0 0 0 rg BT 388.16 96.10 Td (is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.40 96.10 Td ($7,519,71) Tj ET Q q 0 0 0 rg BT 438.03 96.10 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.03 96.10 Td (. ) Tj ET Q q 0 0 0 rg BT 448.85 96.10 Td (The ) Tj ET Q q 0 0 0 rg BT 467.97 96.10 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 510.41 96.10 Td (book ) Tj ET Q q 0 0 0 rg BT 533.99 96.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 553.67 96.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 84.10 Td (investments ) Tj ET Q q 0 0 0 rg BT 99.85 84.10 Td (is ) Tj ET Q BT /F1 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ET Q q 0 0 0 rg BT 133.21 677.10 Td (for ) Tj ET Q q 0 0 0 rg BT 146.80 677.10 Td (corporations ) Tj ET Q q 0 0 0 rg BT 198.71 677.10 Td (and ) Tj ET Q q 0 0 0 rg BT 215.07 677.10 Td (how ) Tj ET Q q 0 0 0 rg BT 234.21 677.10 Td (future ) Tj ET Q q 0 0 0 rg BT 260.01 677.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 277.50 677.10 Td (carryforwards ) Tj ET Q q 0 0 0 rg BT 335.50 677.10 Td (can ) Tj ET Q q 0 0 0 rg BT 351.30 677.10 Td (be ) Tj ET Q q 0 0 0 rg BT 362.67 677.10 Td (used ) Tj ET Q q 0 0 0 rg BT 382.92 677.10 Td (against ) Tj ET Q q 0 0 0 rg BT 413.17 677.10 Td (future ) Tj ET Q q 0 0 0 rg BT 438.97 677.10 Td (gains. ) Tj ET Q q 0 0 0 rg BT 464.50 677.10 Td ( ) Tj ET Q q 0 0 0 rg BT 466.29 677.10 Td (The ) Tj ET Q q 0 0 0 rg BT 483.76 677.10 Td (change ) Tj ET Q q 0 0 0 rg BT 514.00 677.10 Td (of ) Tj ET Q q 0 0 0 rg BT 524.25 677.10 Td (corporate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 665.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 64.91 665.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 82.60 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569.10 Td (of ) Tj ET Q q 0 0 0 rg BT 133.67 569.10 Td (2016, ) Tj ET Q q 0 0 0 rg BT 160.15 569.10 Td (the ) Tj ET Q q 0 0 0 rg BT 176.35 569.10 Td (board ) Tj ET Q q 0 0 0 rg BT 203.09 569.10 Td (of ) Tj ET Q q 0 0 0 rg BT 215.40 569.10 Td (directors ) Tj ET Q q 0 0 0 rg BT 254.37 569.10 Td (of ) Tj ET Q q 0 0 0 rg BT 265.80 569.10 Td (Accelerator ) Tj ET Q q 0 0 0 rg BT 316.41 569.10 Td (voted ) Tj ET Q q 0 0 0 rg BT 342.61 569.10 Td (to ) Tj ET Q q 0 0 0 rg BT 354.37 569.10 Td (modify ) Tj ET Q q 0 0 0 rg BT 387.23 569.10 Td (the ) Tj ET Q q 0 0 0 rg BT 403.43 569.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 445.17 569.10 Td (commitment ) Tj ET Q q 0 0 0 rg BT 499.70 569.10 Td (and ) Tj ET Q q 0 0 0 rg BT 518.12 569.10 Td (investment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 557.10 Td (commitment ) Tj ET Q q 0 0 0 rg BT 105.12 557.10 Td (distributions, ) Tj ET Q q 0 0 0 rg BT 162.20 557.10 Td (which ) Tj ET Q q 0 0 0 rg BT 191.21 557.10 Td (resulted ) Tj ET Q q 0 0 0 rg BT 227.44 557.10 Td (in ) Tj ET Q q 0 0 0 rg BT 239.79 557.10 Td (the ) Tj ET Q q 0 0 0 rg BT 256.58 557.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 305.74 557.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 348.07 557.10 Td (commitment ) Tj ET Q q 0 0 0 rg BT 403.19 557.10 Td (to ) Tj ET Q q 0 0 0 rg BT 415.55 557.10 Td (be ) Tj ET Q q 0 0 0 rg BT 429.56 557.10 Td (set ) Tj ET Q q 0 0 0 rg BT 445.24 557.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.03 557.10 Td ($833,333) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.53 557.10 Td ( ) Tj ET Q q 0 0 0 rg BT 499.11 557.10 Td (and ) Tj ET Q q 0 0 0 rg BT 518.12 557.10 Td (investment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 545.10 Td (commitment ) Tj ET Q q 0 0 0 rg BT 102.59 545.10 Td (to ) Tj ET Q q 0 0 0 rg BT 112.41 545.10 Td (be ) Tj ET Q q 0 0 0 rg BT 123.89 545.10 Td (set ) Tj ET Q q 0 0 0 rg BT 137.05 545.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 146.31 545.10 Td ($3,166,667) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.31 545.10 Td (. ) Tj ET Q q 0 0 0 rg BT 195.85 545.10 Td ( ) Tj ET Q q 0 0 0 rg BT 197.89 545.10 Td ( ) Tj ET Q q 0 0 0 rg BT 199.94 545.10 Td (During ) Tj ET Q q 0 0 0 rg BT 230.31 545.10 Td (the ) Tj ET Q q 0 0 0 rg BT 244.57 545.10 Td (year ) Tj ET Q q 0 0 0 rg BT 263.82 545.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.74 545.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 347.87 545.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.87 545.10 Td (, ) Tj ET Q q 0 0 0 rg BT 371.96 545.10 Td (Accelerator ) Tj ET Q q 0 0 0 rg BT 420.64 545.10 Td (called ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.55 545.10 Td ($1) Tj ET Q q 0 0 0 rg BT 456.18 545.10 Td (13,906) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.68 545.10 Td ( ) Tj ET Q q 0 0 0 rg BT 485.72 545.10 Td (in ) Tj ET Q q 0 0 0 rg BT 495.54 545.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 535.35 545.10 Td (capital ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 533.10 Td (and ) Tj ET Q q 0 0 0 rg BT 69.16 533.10 Td ($1,008,402 ) Tj ET Q q 0 0 0 rg BT 118.88 533.10 Td (in ) Tj ET Q q 0 0 0 rg BT 131.37 533.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 179.98 533.10 Td (capital, ) Tj ET Q q 0 0 0 rg BT 213.85 533.10 Td (to ) Tj ET Q q 0 0 0 rg BT 226.34 533.10 Td (fund ) Tj ET Q q 0 0 0 rg BT 249.39 533.10 Td (two ) Tj ET Q q 0 0 0 rg BT 269.11 533.10 Td (new ) Tj ET Q q 0 0 0 rg BT 290.49 533.10 Td (tenant ) Tj ET Q q 0 0 0 rg BT 319.64 533.10 Td (companies, ) Tj ET Q q 0 0 0 rg BT 369.63 533.10 Td (Coba ) Tj ET Q q 0 0 0 rg BT 395.11 533.10 Td (Therapeutics ) Tj ET Q q 0 0 0 rg BT 451.47 533.10 Td (Corporation ) Tj ET Q q 0 0 0 rg BT 504.52 533.10 Td (and ) Tj ET Q q 0 0 0 rg BT 523.68 533.10 Td (Magnolia ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 521.10 Td (Neurosciences ) Tj ET Q q 0 0 0 rg BT 110.59 521.10 Td (Corporation. ) Tj ET Q q 0 0 0 rg BT 163.20 521.10 Td (As ) Tj ET Q q 0 0 0 rg BT 176.60 521.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 187.22 521.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 245.59 521.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.59 521.10 Td (, ) Tj ET Q q 0 0 0 rg BT 270.37 521.10 Td (the ) Tj ET Q q 0 0 0 rg BT 284.88 521.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 326.05 521.10 Td (had ) Tj ET Q q 0 0 0 rg BT 342.77 521.10 Td (remaining ) Tj ET Q q 0 0 0 rg BT 385.60 521.10 Td (unfunded ) Tj ET Q q 0 0 0 rg BT 425.66 521.10 Td (commitments ) Tj ET Q q 0 0 0 rg BT 482.38 521.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.00 521.10 Td ($0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.00 521.10 Td ( ) Tj ET Q q 0 0 0 rg BT 505.29 521.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.01 521.10 Td ($475,025) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.51 521.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 509.10 Td (or ) Tj ET Q q 0 0 0 rg BT 60.58 509.10 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.59 509.10 Td (0.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.09 509.10 Td ( ) Tj ET Q q 0 0 0 rg BT 135.34 509.10 Td (percent ) Tj ET Q q 0 0 0 rg BT 167.02 509.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.71 509.10 Td (15.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.21 509.10 Td ( ) Tj ET Q q 0 0 0 rg BT 203.46 509.10 Td (percent, ) Tj ET Q q 0 0 0 rg BT 237.63 509.10 Td (of ) Tj ET Q q 0 0 0 rg BT 248.21 509.10 Td (the ) Tj ET Q q 0 0 0 rg BT 262.68 509.10 Td (total ) Tj ET Q q 0 0 0 rg BT 282.71 509.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 322.72 509.10 Td (and ) Tj ET Q q 0 0 0 rg BT 339.41 509.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 385.54 509.10 Td (commitments, ) Tj ET Q q 0 0 0 rg BT 444.73 509.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 492.39 509.10 Td (. ) Tj ET Q q 0 0 0 rg BT 497.14 509.10 Td ( ) Tj ET Q q 0 0 0 rg BT 499.23 509.10 Td (The ) Tj ET Q q 0 0 0 rg BT 517.03 509.10 Td (withdrawal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 497.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.83 497.10 Td (contributed ) Tj ET Q q 0 0 0 rg BT 108.87 497.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 138.02 497.10 Td (is ) Tj ET Q q 0 0 0 rg BT 147.19 497.10 Td (not ) Tj ET Q q 0 0 0 rg BT 162.47 497.10 Td (permitted. ) Tj ET Q q 0 0 0 rg BT 205.79 497.10 Td ( ) Tj ET Q q 0 0 0 rg BT 208.11 497.10 Td (The ) Tj ET Q q 0 0 0 rg BT 226.16 497.10 Td (transfer ) Tj ET Q q 0 0 0 rg BT 259.19 497.10 Td (or ) Tj ET Q q 0 0 0 rg BT 270.02 497.10 Td (assignment ) Tj ET Q q 0 0 0 rg BT 317.52 497.10 Td (of ) Tj ET Q q 0 0 0 rg BT 328.35 497.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 357.50 497.10 Td (is ) Tj ET Q q 0 0 0 rg BT 366.67 497.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 397.50 497.10 Td (to ) Tj ET Q q 0 0 0 rg BT 407.77 497.10 Td (approval ) Tj ET Q q 0 0 0 rg BT 445.26 497.10 Td (by ) Tj ET Q q 0 0 0 rg BT 457.21 497.10 Td (Accelerator) Tj ET Q q 0 0 0 rg BT 503.29 497.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 473.10 Td (If ) Tj ET Q q 0 0 0 rg BT 95.89 473.10 Td (the ) Tj ET Q q 0 0 0 rg BT 111.34 473.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 153.46 473.10 Td (defaults ) Tj ET Q q 0 0 0 rg BT 188.34 473.10 Td (on ) Tj ET Q q 0 0 0 rg BT 201.58 473.10 Td (the ) Tj ET Q q 0 0 0 rg BT 217.02 473.10 Td (remaining ) Tj ET Q q 0 0 0 rg BT 260.80 473.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 307.91 473.10 Td (commitment, ) Tj ET Q q 0 0 0 rg BT 364.19 473.10 Td (the ) Tj ET Q q 0 0 0 rg BT 379.64 473.10 Td (other ) Tj ET Q q 0 0 0 rg BT 403.42 473.10 Td (investors ) Tj ET Q q 0 0 0 rg BT 442.76 473.10 Td (may ) Tj ET Q q 0 0 0 rg BT 463.20 473.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 501.97 473.10 Td (the ) Tj ET Q q 0 0 0 rg BT 517.42 473.10 Td (Company's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 461.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 77.37 461.10 Td (of ) Tj ET Q q 0 0 0 rg BT 87.55 461.10 Td (Accelerator ) Tj ET Q q 0 0 0 rg BT 136.56 461.10 Td (and ) Tj ET Q q 0 0 0 rg BT 153.38 461.10 Td (any ) Tj ET Q q 0 0 0 rg BT 170.20 461.10 Td (tenant ) Tj ET Q q 0 0 0 rg BT 197.01 461.10 Td (companies ) Tj ET Q q 0 0 0 rg BT 242.16 461.10 Td (of ) Tj ET Q q 0 0 0 rg BT 252.87 461.10 Td (the ) Tj ET Q q 0 0 0 rg BT 266.94 461.10 Td (Accelerator) Tj ET Q q 0 0 0 rg BT 313.17 461.10 Td (, ) Tj ET Q q 0 0 0 rg BT 318.05 461.10 Td (currently ) Tj ET Q q 0 0 0 rg BT 356.52 461.10 Td (Coba ) Tj ET Q q 0 0 0 rg BT 379.83 461.10 Td (Therapeutics ) Tj ET Q q 0 0 0 rg BT 433.85 461.10 Td (Corporation, ) Tj ET Q q 0 0 0 rg BT 487.06 461.10 Td (Lodo ) Tj ET Q q 0 0 0 rg BT 510.37 461.10 Td (Therapeutics ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 449.10 Td (Corporation, ) Tj ET Q q 0 0 0 rg BT 103.30 449.10 Td (Magnolia ) Tj ET Q q 0 0 0 rg BT 144.09 449.10 Td (Neurosciences ) Tj ET Q q 0 0 0 rg BT 204.87 449.10 Td (Corporation ) Tj ET Q q 0 0 0 rg BT 255.67 449.10 Td (and ) Tj ET Q q 0 0 0 rg BT 272.58 449.10 Td (Petra ) Tj ET Q q 0 0 0 rg BT 295.60 449.10 Td (Pharma ) Tj ET Q q 0 0 0 rg BT 328.62 449.10 Td (Corporation, ) Tj ET Q q 0 0 0 rg BT 381.92 449.10 Td (for ) Tj ET Q q 0 0 0 rg BT 396.05 449.10 Td ($0.001 ) Tj ET Q q 0 0 0 rg BT 426.02 449.10 Td (per ) Tj ET Q q 0 0 0 rg BT 441.26 449.10 Td (share. ) Tj ET Q q 0 0 0 rg BT 467.33 449.10 Td ( ) Tj ET Q q 0 0 0 rg BT 469.63 449.10 Td (The ) Tj ET Q q 0 0 0 rg BT 487.64 449.10 Td (combined ) Tj ET Q q 0 0 0 rg BT 529.55 449.10 Td (value ) Tj ET Q q 0 0 0 rg BT 553.68 449.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 437.10 Td (Accelerator) Tj ET Q q 0 0 0 rg BT 96.23 437.10 Td (, ) Tj ET Q q 0 0 0 rg BT 101.83 437.10 Td (Coba ) Tj ET Q q 0 0 0 rg BT 125.82 437.10 Td (Therapeutics ) Tj ET Q q 0 0 0 rg BT 180.56 437.10 Td (Corporation, ) Tj ET Q q 0 0 0 rg BT 234.49 437.10 Td (Lodo ) Tj ET Q q 0 0 0 rg BT 258.48 437.10 Td (Therapeutics ) Tj ET Q q 0 0 0 rg BT 313.22 437.10 Td (Corporation, ) Tj ET Q q 0 0 0 rg BT 367.15 437.10 Td (Magnolia ) Tj ET Q q 0 0 0 rg BT 408.58 437.10 Td (Neurosciences ) Tj ET Q q 0 0 0 rg BT 469.99 437.10 Td (Corporation, ) Tj ET Q q 0 0 0 rg BT 523.92 437.10 Td (and ) Tj ET Q q 0 0 0 rg BT 541.46 437.10 Td (Petra ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 425.10 Td (Pharma ) Tj ET Q q 0 0 0 rg BT 83.05 425.10 Td (Corporation ) Tj ET Q q 0 0 0 rg BT 133.87 425.10 Td (is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.04 425.10 Td ($3,312,148) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.04 425.10 Td (, ) Tj ET Q q 0 0 0 rg BT 193.04 425.10 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.87 425.10 Td ($0.1) Tj ET Q q 0 0 0 rg BT 221.00 425.10 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.00 425.10 Td ( ) Tj ET Q q 0 0 0 rg BT 228.50 425.10 Td (per ) Tj ET Q q 0 0 0 rg BT 243.77 425.10 Td (share ) Tj ET Q q 0 0 0 rg BT 267.37 425.10 Td (as ) Tj ET Q q 0 0 0 rg BT 278.20 425.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.03 425.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 347.61 425.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.61 425.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 413.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 401.10 Td (The ) Tj ET Q q 0 0 0 rg BT 104.06 401.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 151.14 401.10 Td (initial ) Tj ET Q q 0 0 0 rg BT 176.98 401.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 223.37 401.10 Td (in ) Tj ET Q q 0 0 0 rg BT 233.66 401.10 Td (Petra ) Tj ET Q q 0 0 0 rg BT 256.72 401.10 Td (Pharma ) Tj ET Q q 0 0 0 rg BT 289.77 401.10 Td (Corporation ) Tj ET Q q 0 0 0 rg BT 340.61 401.10 Td (was ) Tj ET Q q 0 0 0 rg BT 358.67 401.10 Td (in ) Tj ET Q q 0 0 0 rg BT 368.95 401.10 Td (a ) Tj ET Q q 0 0 0 rg BT 375.90 401.10 Td (round ) Tj ET Q q 0 0 0 rg BT 401.74 401.10 Td (of ) Tj ET Q q 0 0 0 rg BT 412.58 401.10 Td (financing ) Tj ET Q q 0 0 0 rg BT 452.85 401.10 Td (that ) Tj ET Q q 0 0 0 rg BT 470.36 401.10 Td (included ) Tj ET Q q 0 0 0 rg BT 507.30 401.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 553.69 401.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 389.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 92.36 389.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 121.39 389.10 Td (of ) Tj ET Q q 0 0 0 rg BT 132.09 389.10 Td (up ) Tj ET Q q 0 0 0 rg BT 144.46 389.10 Td (to ) Tj ET Q q 0 0 0 rg BT 154.61 389.10 Td (of ) Tj ET Q q 0 0 0 rg BT 165.32 389.10 Td ($260,504 ) Tj ET Q q 0 0 0 rg BT 205.19 389.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 227.56 389.10 Td (achievement ) Tj ET Q q 0 0 0 rg BT 280.46 389.10 Td (of ) Tj ET Q q 0 0 0 rg BT 291.17 389.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 320.74 389.10 Td (quantitative ) Tj ET Q q 0 0 0 rg BT 370.32 389.10 Td (and ) Tj ET Q q 0 0 0 rg BT 387.13 389.10 Td (qualitative ) Tj ET Q q 0 0 0 rg BT 431.71 389.10 Td (milestones. ) Tj ET Q q 0 0 0 rg BT 479.36 389.10 Td ( ) Tj ET Q q 0 0 0 rg BT 481.73 389.10 Td ( ) Tj ET Q q 0 0 0 rg BT 483.94 389.10 Td (The ) Tj ET Q q 0 0 0 rg BT 501.85 389.10 Td (milestones ) Tj ET Q q 0 0 0 rg BT 547.00 389.10 Td (that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 377.10 Td (would ) Tj ET Q q 0 0 0 rg BT 76.56 377.10 Td (trigger ) Tj ET Q q 0 0 0 rg BT 104.78 377.10 Td (this ) Tj ET Q q 0 0 0 rg BT 120.78 377.10 Td (potential ) Tj ET Q q 0 0 0 rg BT 157.33 377.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 202.78 377.10 Td (had ) Tj ET Q q 0 0 0 rg BT 218.77 377.10 Td (yet ) Tj ET Q q 0 0 0 rg BT 232.55 377.10 Td (to ) Tj ET Q q 0 0 0 rg BT 241.89 377.10 Td (occur ) Tj ET Q q 0 0 0 rg BT 265.66 377.10 Td (as ) Tj ET Q q 0 0 0 rg BT 275.55 377.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.44 377.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 343.08 377.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.08 377.10 Td (. ) Tj ET Q q 0 0 0 rg BT 367.14 377.10 Td ( ) Tj ET Q q 0 0 0 rg BT 368.70 377.10 Td (Should ) Tj ET Q q 0 0 0 rg BT 398.60 377.10 Td (these ) Tj ET Q q 0 0 0 rg BT 420.71 377.10 Td (milestones ) Tj ET Q q 0 0 0 rg BT 465.04 377.10 Td (be ) Tj ET Q q 0 0 0 rg BT 476.04 377.10 Td (successfully ) Tj ET Q q 0 0 0 rg BT 526.48 377.10 Td (achieved ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 365.10 Td (and ) Tj ET Q q 0 0 0 rg BT 67.56 365.10 Td (the ) Tj ET Q q 0 0 0 rg BT 82.90 365.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 124.90 365.10 Td (decides ) Tj ET Q q 0 0 0 rg BT 158.01 365.10 Td (to ) Tj ET Q q 0 0 0 rg BT 168.91 365.10 Td (not ) Tj ET Q q 0 0 0 rg BT 184.80 365.10 Td (invest ) Tj ET Q q 0 0 0 rg BT 211.81 365.10 Td (such ) Tj ET Q q 0 0 0 rg BT 233.26 365.10 Td (capital, ) Tj ET Q q 0 0 0 rg BT 265.53 365.10 Td (the ) Tj ET Q q 0 0 0 rg BT 280.87 365.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 321.75 365.10 Td (held ) Tj ET Q q 0 0 0 rg BT 342.09 365.10 Td (by ) Tj ET Q q 0 0 0 rg BT 355.21 365.10 Td (the ) Tj ET Q q 0 0 0 rg BT 370.55 365.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 412.55 365.10 Td (in ) Tj ET Q q 0 0 0 rg BT 423.45 365.10 Td (Petra ) Tj ET Q q 0 0 0 rg BT 447.12 365.10 Td (Pharma ) Tj ET Q q 0 0 0 rg BT 480.79 365.10 Td (Corporation ) Tj ET Q q 0 0 0 rg BT 532.23 365.10 Td (may ) Tj ET Q q 0 0 0 rg BT 552.57 365.10 Td (be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 353.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 81.13 353.10 Td (to ) Tj ET Q q 0 0 0 rg BT 91.71 353.10 Td (punitive ) Tj ET Q q 0 0 0 rg BT 127.29 353.10 Td (action ) Tj ET Q q 0 0 0 rg BT 154.53 353.10 Td (including, ) Tj ET Q q 0 0 0 rg BT 197.60 353.10 Td (but ) Tj ET Q q 0 0 0 rg BT 213.19 353.10 Td (not ) Tj ET Q q 0 0 0 rg BT 228.77 353.10 Td (limited ) Tj ET Q q 0 0 0 rg BT 259.90 353.10 Td (to, ) Tj ET Q q 0 0 0 rg BT 272.99 353.10 Td (conversion ) Tj ET Q q 0 0 0 rg BT 319.67 353.10 Td (from ) Tj ET Q q 0 0 0 rg BT 341.91 353.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 381.35 353.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 405.26 353.10 Td (to ) Tj ET Q q 0 0 0 rg BT 415.85 353.10 Td (common ) Tj ET Q q 0 0 0 rg BT 453.65 353.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 477.56 353.10 Td (and/or ) Tj ET Q q 0 0 0 rg BT 505.91 353.10 Td (repurchase ) Tj ET Q q 0 0 0 rg BT 552.02 353.10 Td (by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 341.10 Td (the ) Tj ET Q q 0 0 0 rg BT 63.97 341.10 Td (respective ) Tj ET Q q 0 0 0 rg BT 106.26 341.10 Td (companies ) Tj ET Q q 0 0 0 rg BT 150.78 341.10 Td (at ) Tj ET Q q 0 0 0 rg BT 159.76 341.10 Td (a ) Tj ET Q q 0 0 0 rg BT 165.95 341.10 Td (substantial ) Tj ET Q q 0 0 0 rg BT 210.48 341.10 Td (discount ) Tj ET Q q 0 0 0 rg BT 246.13 341.10 Td (to ) Tj ET Q q 0 0 0 rg BT 255.66 341.10 Td (current ) Tj ET Q q 0 0 0 rg BT 285.73 341.10 Td (carrying ) Tj ET Q q 0 0 0 rg BT 320.81 341.10 Td (value. ) Tj ET Q q 0 0 0 rg BT 346.72 341.10 Td ( ) Tj ET Q q 0 0 0 rg BT 348.09 341.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 397.99 341.10 Td (, ) Tj ET Q q 0 0 0 rg BT 402.25 341.10 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 439.00 341.10 Td (companies ) Tj ET Q q 0 0 0 rg BT 483.52 341.10 Td (may ) Tj ET Q q 0 0 0 rg BT 502.49 341.10 Td (seek ) Tj ET Q q 0 0 0 rg BT 522.02 341.10 Td (additional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 329.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 78.82 329.10 Td (in ) Tj ET Q q 0 0 0 rg BT 88.76 329.10 Td (the ) Tj ET Q q 0 0 0 rg BT 103.15 329.10 Td (future ) Tj ET Q q 0 0 0 rg BT 129.19 329.10 Td (and ) Tj ET Q q 0 0 0 rg BT 145.80 329.10 Td (any ) Tj ET Q q 0 0 0 rg BT 162.41 329.10 Td (decision ) Tj ET Q q 0 0 0 rg BT 197.90 329.10 Td (by ) Tj ET Q q 0 0 0 rg BT 210.07 329.10 Td (the ) Tj ET Q q 0 0 0 rg BT 224.45 329.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 265.51 329.10 Td (to ) Tj ET Q q 0 0 0 rg BT 275.45 329.10 Td (not ) Tj ET Q q 0 0 0 rg BT 290.40 329.10 Td (participate ) Tj ET Q q 0 0 0 rg BT 334.77 329.10 Td (in ) Tj ET Q q 0 0 0 rg BT 344.71 329.10 Td (the ) Tj ET Q q 0 0 0 rg BT 359.10 329.10 Td (round ) Tj ET Q q 0 0 0 rg BT 384.59 329.10 Td (of ) Tj ET Q q 0 0 0 rg BT 395.09 329.10 Td (financing ) Tj ET Q q 0 0 0 rg BT 435.02 329.10 Td (could ) Tj ET Q q 0 0 0 rg BT 459.41 329.10 Td (result ) Tj ET Q q 0 0 0 rg BT 483.79 329.10 Td (in ) Tj ET Q q 0 0 0 rg BT 493.74 329.10 Td (similar ) Tj ET Q q 0 0 0 rg BT 523.68 329.10 Td (outcomes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 317.10 Td (that ) Tj ET Q q 0 0 0 rg BT 67.50 317.10 Td (could ) Tj ET Q q 0 0 0 rg BT 92.21 317.10 Td (negatively ) Tj ET Q q 0 0 0 rg BT 136.36 317.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 166.07 317.10 Td (the ) Tj ET Q q 0 0 0 rg BT 180.79 317.10 Td (value ) Tj ET Q q 0 0 0 rg BT 204.95 317.10 Td (of ) Tj ET Q q 0 0 0 rg BT 215.78 317.10 Td (the ) Tj ET Q q 0 0 0 rg BT 230.49 317.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 277.57 317.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 317.84 317.10 Td (of ) Tj ET Q q 0 0 0 rg BT 328.67 317.10 Td (those ) Tj ET Q q 0 0 0 rg BT 352.28 317.10 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 389.77 317.10 Td (companies.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 293.10 Td (On ) Tj ET Q q 0 0 0 rg BT 100.76 293.10 Td (September ) Tj ET Q q 0 0 0 rg BT 146.07 293.10 Td (24, ) Tj ET Q q 0 0 0 rg BT 161.11 293.10 Td (2009, ) Tj ET Q q 0 0 0 rg BT 186.16 293.10 Td (we ) Tj ET Q q 0 0 0 rg BT 200.36 293.10 Td (signed ) Tj ET Q q 0 0 0 rg BT 229.01 293.10 Td (a ) Tj ET Q q 0 0 0 rg BT 235.99 293.10 Td (ten-year ) Tj ET Q q 0 0 0 rg BT 271.29 293.10 Td (lease ) Tj ET Q q 0 0 0 rg BT 293.82 293.10 Td (for ) Tj ET Q q 0 0 0 rg BT 308.02 293.10 Td (approximately ) Tj ET Q q 0 0 0 rg BT 368.32 293.10 Td (6,900 ) Tj ET Q q 0 0 0 rg BT 393.37 293.10 Td (square ) Tj ET Q q 0 0 0 rg BT 422.01 293.10 Td (feet ) Tj ET Q q 0 0 0 rg BT 439.54 293.10 Td (of ) Tj ET Q q 0 0 0 rg BT 450.41 293.10 Td (of) Tj ET Q q 0 0 0 rg BT 458.56 293.10 Td (fice ) Tj ET Q q 0 0 0 rg BT 476.09 293.10 Td (space ) Tj ET Q q 0 0 0 rg BT 500.84 293.10 Td (located ) Tj ET Q q 0 0 0 rg BT 532.25 293.10 Td (at ) Tj ET Q q 0 0 0 rg BT 542.01 293.10 Td (1450 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 281.10 Td (Broadway) Tj ET Q q 0 0 0 rg BT 90.45 281.10 Td (, ) Tj ET Q q 0 0 0 rg BT 95.34 281.10 Td (New ) Tj ET Q q 0 0 0 rg BT 116.27 281.10 Td (Y) Tj ET Q q 0 0 0 rg BT 122.49 281.10 Td (ork, ) Tj ET Q q 0 0 0 rg BT 140.71 281.10 Td (New ) Tj ET Q q 0 0 0 rg BT 161.63 281.10 Td (Y) Tj ET Q q 0 0 0 rg BT 167.85 281.10 Td (ork. ) Tj ET Q q 0 0 0 rg BT 186.08 281.10 Td (On ) Tj ET Q q 0 0 0 rg BT 200.70 281.10 Td (March ) Tj ET Q q 0 0 0 rg BT 229.19 281.10 Td (23, ) Tj ET Q q 0 0 0 rg BT 244.08 281.10 Td (2017, ) Tj ET Q q 0 0 0 rg BT 268.98 281.10 Td (we ) Tj ET Q q 0 0 0 rg BT 283.03 281.10 Td (signed ) Tj ET Q q 0 0 0 rg BT 311.54 281.10 Td (a ) Tj ET Q q 0 0 0 rg BT 318.37 281.10 Td (month-to-month ) Tj ET Q q 0 0 0 rg BT 386.32 281.10 Td (lease ) Tj ET Q q 0 0 0 rg BT 408.70 281.10 Td (for ) Tj ET Q q 0 0 0 rg BT 422.75 281.10 Td (approximately ) Tj ET Q q 0 0 0 rg BT 482.91 281.10 Td (1,250 ) Tj ET Q q 0 0 0 rg BT 507.80 281.10 Td (square ) Tj ET Q q 0 0 0 rg BT 536.30 281.10 Td (feet ) Tj ET Q q 0 0 0 rg BT 553.68 281.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 269.10 Td (of) Tj ET Q q 0 0 0 rg BT 58.15 269.10 Td (fice ) Tj ET Q q 0 0 0 rg BT 76.15 269.10 Td (space ) Tj ET Q q 0 0 0 rg BT 101.36 269.10 Td (located ) Tj ET Q q 0 0 0 rg BT 133.24 269.10 Td (at ) Tj ET Q q 0 0 0 rg BT 143.47 269.10 Td (7 ) Tj ET Q q 0 0 0 rg BT 151.48 269.10 Td (N. ) Tj ET Q q 0 0 0 rg BT 164.00 269.10 Td (W) Tj ET Q q 0 0 0 rg BT 173.03 269.10 Td (illow ) Tj ET Q q 0 0 0 rg BT 196.60 269.10 Td (Street, ) Tj ET Q q 0 0 0 rg BT 225.44 269.10 Td (Suite ) Tj ET Q q 0 0 0 rg BT 249.00 269.10 Td (4B, ) Tj ET Q q 0 0 0 rg BT 266.18 269.10 Td (Montclair) Tj ET Q q 0 0 0 rg BT 305.22 269.10 Td (, ) Tj ET Q q 0 0 0 rg BT 310.73 269.10 Td (New ) Tj ET Q q 0 0 0 rg BT 332.62 269.10 Td (Jersey) Tj ET Q q 0 0 0 rg BT 356.96 269.10 Td (. ) Tj ET Q q 0 0 0 rg BT 362.47 269.10 Td ( ) Tj ET Q q 0 0 0 rg BT 365.48 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(Upon ) Tj ET Q q 0 0 0 rg BT 219.72 257.10 Td (an ) Tj ET Q q 0 0 0 rg BT 232.01 257.10 Td (event ) Tj ET Q q 0 0 0 rg BT 256.51 257.10 Td (of ) Tj ET Q q 0 0 0 rg BT 267.70 257.10 Td (default, ) Tj ET Q q 0 0 0 rg BT 300.81 257.10 Td (the ) Tj ET Q q 0 0 0 rg BT 315.88 257.10 Td (leases ) Tj ET Q q 0 0 0 rg BT 342.61 257.10 Td (each ) Tj ET Q q 0 0 0 rg BT 363.77 257.10 Td (provide ) Tj ET Q q 0 0 0 rg BT 397.17 257.10 Td (that ) Tj ET Q q 0 0 0 rg BT 415.02 257.10 Td (the ) Tj ET Q q 0 0 0 rg BT 430.09 257.10 Td (landlord ) Tj ET Q q 0 0 0 rg BT 466.26 257.10 Td (may ) Tj ET Q q 0 0 0 rg BT 486.33 257.10 Td (terminate ) Tj ET Q q 0 0 0 rg BT 526.94 257.10 Td (the ) Tj ET Q q 0 0 0 rg BT 542.01 257.10 Td (lease ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 245.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.45 245.10 Td (require ) Tj ET Q q 0 0 0 rg BT 96.78 245.10 Td (us ) Tj ET Q q 0 0 0 rg BT 107.69 245.10 Td (to ) Tj ET Q q 0 0 0 rg BT 117.48 245.10 Td (pay ) Tj ET Q q 0 0 0 rg BT 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Q q 0 0 0 rg BT 64.72 233.10 Td (premises.) Tj ET Q endstream endobj 83 0 obj <> endobj 84 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (41) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 50 740.68505859375 m 275.8056640625 740.68505859375 l s q 0 0 0 rg BT 50.00 742.25 Td (NOTE 1) Tj ET Q q 0 0 0 rg BT 85.29 742.25 Td (1. 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323.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 348.75 m 559.5 348.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 325.75 m 559.5 325.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483.5 323.75 m 559.5 323.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 698.43 Td (Company) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 394.80 698.43 Td (Pur) Tj ET Q q 0 0 0 rg BT 410.82 698.43 Td (chases/Cost) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 489.80 698.43 Td (Sales Pr) Tj ET Q q 0 0 0 rg BT 524.34 698.43 Td (oceeds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 683.42 Td (Synacor) Tj ET Q q 0 0 0 rg BT 85.57 683.42 Td (, Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.00 683.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.15 683.42 Td (665,750) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.00 683.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.65 683.42 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 668.42 Td (ORIG3N, Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.15 668.42 Td (49,804) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.65 668.42 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 653.42 Td (Petra Pharma Corporation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.15 653.42 Td (739,496) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.65 653.42 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 638.42 Td (Coba ) Tj ET Q q 0 0 0 rg BT 76.52 638.42 Td (Therapeutics Corporation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.15 638.42 Td (145,530) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.65 638.42 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 623.42 Td (Mersana ) Tj ET Q q 0 0 0 rg BT 89.84 623.42 Td (Therapeutics, Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.15 623.42 Td (784,666) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.65 623.42 Td (1,612,575) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 608.42 Td (T) Tj ET Q q 0 0 0 rg BT 58.93 608.42 Td (urtle Beach Corporation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.65 608.42 Td (1,000,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.65 608.42 Td (4,893,675) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 593.42 Td (Adesto ) Tj ET Q q 0 0 0 rg BT 83.74 593.42 Td (T) Tj ET Q q 0 0 0 rg BT 89.41 593.42 Td (echnologies Corporation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.65 593.42 Td (2,773,712) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.65 593.42 Td (8,403,897) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 578.42 Td (Senova Systems, Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.65 578.42 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.65 578.42 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 563.42 Td (SynGlyco, Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.65 563.42 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.15 563.42 Td (50,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 548.42 Td (Muses Labs, Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.65 548.42 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.15 548.42 Td (132,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 533.42 Td (Accelerator IV) Tj ET Q q 0 0 0 rg BT 112.22 533.42 Td (-New ) Tj ET Q q 0 0 0 rg BT 136.29 533.42 Td (Y) Tj ET Q q 0 0 0 rg BT 142.83 533.42 Td (ork Corporation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.15 533.42 Td (1) Tj ET Q q 0 0 0 rg BT 448.15 533.42 Td (13,906) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.65 533.42 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 518.42 Td (Emcore Corporation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.65 518.42 Td (2,688,299) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.15 518.42 Td (352,528) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 503.42 Td (Air) Tj ET Q q 0 0 0 rg BT 66.24 503.42 Td (gain, Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.65 503.42 Td (1,627,1) Tj ET Q q 0 0 0 rg BT 465.65 503.42 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.15 503.42 Td (18,142) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 488.42 Td (Intermolecular) Tj ET Q q 0 0 0 rg BT 111.66 488.42 Td (, Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.65 488.42 Td (1,328,661) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.65 488.42 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 473.42 Td (Lantronix, Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.65 473.42 Td (1,475,580) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.65 473.42 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 458.42 Td (PDL) Tj ET Q q 0 0 0 rg BT 71.71 458.42 Td ( BioPharma, Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.65 458.42 Td (1,183,826) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.65 458.42 Td (1,493,632) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 443.42 Td (Essential Health Solutions, Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.15 443.42 Td (50,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.65 443.42 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 428.42 Td (HALE.life Corporation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.15 428.42 Td (500,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.65 428.42 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 413.42 Td (Magnolia Neurosciences Corporation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.15 413.42 Td (862,872) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 550.65 413.42 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 398.42 Td (Ensemble ) Tj ET Q q 0 0 0 rg BT 94.84 398.42 Td (Therapeutics Corporation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.65 398.42 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.15 398.42 Td (1) Tj ET Q q 0 0 0 rg BT 528.15 398.42 Td (17,327) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 383.42 Td (HZO, Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.65 383.42 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.65 383.42 Td (7,000,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 368.42 Td (Champions Oncology) Tj ET Q q 0 0 0 rg BT 140.17 368.42 Td (, Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.65 368.42 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.15 368.42 Td (41,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 353.42 Td (Miscellaneous Common Stocks) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.15 353.42 Td (73,825) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.15 353.42 Td (24,140) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 329.43 Td (T) Tj ET Q q 0 0 0 rg BT 58.75 329.43 Td (otals) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 379.00 329.43 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 430.65 329.43 Td (16,063,043) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 486.00 329.43 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 510.65 329.43 Td (24,138,916) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 301.25 Td (Note: ) Tj ET Q q 0 0 0 rg BT 73.95 301.25 Td (The ) Tj ET Q q 0 0 0 rg BT 91.37 301.25 Td (table ) Tj ET Q q 0 0 0 rg BT 112.68 301.25 Td (above ) Tj ET Q q 0 0 0 rg BT 138.43 301.25 Td (does ) Tj ET Q q 0 0 0 rg BT 158.63 301.25 Td (not ) Tj ET Q q 0 0 0 rg BT 173.28 301.25 Td (include ) Tj ET Q q 0 0 0 rg BT 204.58 301.25 Td (purchases ) Tj ET Q q 0 0 0 rg BT 245.88 301.25 Td (of ) Tj ET Q q 0 0 0 rg BT 256.08 301.25 Td (short-term ) Tj ET Q q 0 0 0 rg BT 299.61 301.25 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 319.13 301.25 Td (T) Tj ET Q q 0 0 0 rg BT 324.89 301.25 Td (reasury ) Tj ET Q q 0 0 0 rg BT 356.19 301.25 Td (securities ) Tj ET Q q 0 0 0 rg BT 395.82 301.25 Td (whose ) Tj ET Q q 0 0 0 rg BT 423.25 301.25 Td (maturities ) Tj ET Q q 0 0 0 rg BT 465.11 301.25 Td (at ) Tj ET Q q 0 0 0 rg BT 474.20 301.25 Td (the ) Tj ET Q q 0 0 0 rg BT 488.28 301.25 Td (time ) Tj ET Q q 0 0 0 rg BT 507.93 301.25 Td (of ) Tj ET Q q 0 0 0 rg BT 518.13 301.25 Td (acquisition ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 289.25 Td (were ) Tj ET Q q 0 0 0 rg BT 72.15 289.25 Td (one ) Tj ET Q q 0 0 0 rg BT 89.31 289.25 Td (year ) Tj ET Q q 0 0 0 rg BT 109.24 289.25 Td (or ) Tj ET Q q 0 0 0 rg BT 120.29 289.25 Td (less ) Tj ET Q q 0 0 0 rg BT 138.01 289.25 Td (during ) Tj ET Q q 0 0 0 rg BT 166.84 289.25 Td (the ) Tj ET Q q 0 0 0 rg BT 181.78 289.25 Td (year ) Tj ET Q q 0 0 0 rg BT 201.71 289.25 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.30 289.25 Td (December31, ) Tj ET Q q 0 0 0 rg BT 287.11 289.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.11 289.25 Td (. ) Tj ET Q q 0 0 0 rg BT 312.33 289.25 Td ( ) Tj ET Q q 0 0 0 rg BT 314.85 289.25 Td (The ) Tj ET Q q 0 0 0 rg BT 333.12 289.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 374.73 289.25 Td (did ) Tj ET Q q 0 0 0 rg BT 390.23 289.25 Td (not ) Tj ET Q q 0 0 0 rg BT 405.73 289.25 Td (sell ) Tj ET Q q 0 0 0 rg BT 422.34 289.25 Td (any ) Tj ET Q q 0 0 0 rg BT 439.50 289.25 Td (such ) Tj ET Q q 0 0 0 rg BT 460.55 289.25 Td (securities ) Tj ET Q q 0 0 0 rg BT 501.03 289.25 Td (during ) Tj ET Q q 0 0 0 rg BT 529.86 289.25 Td (the ) Tj ET Q q 0 0 0 rg BT 544.80 289.25 Td (year ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 277.25 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.38 277.25 Td (December31, ) Tj ET Q q 0 0 0 rg BT 134.96 277.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.96 277.25 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 253.25 Td (During ) Tj ET Q q 0 0 0 rg BT 80.42 253.25 Td (the ) Tj ET Q q 0 0 0 rg BT 94.74 253.25 Td (year ) Tj ET Q q 0 0 0 rg BT 114.04 253.25 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 140.01 253.25 Td (December31, ) Tj ET Q q 0 0 0 rg BT 198.19 253.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 218.19 253.25 Td (, ) Tj ET Q q 0 0 0 rg BT 222.78 253.25 Td (the ) Tj ET Q q 0 0 0 rg BT 237.09 253.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 278.08 253.25 Td (received ) Tj ET Q q 0 0 0 rg BT 314.03 253.25 Td ($18,507 ) Tj ET Q q 0 0 0 rg BT 348.63 253.25 Td (in ) Tj ET Q q 0 0 0 rg BT 358.50 253.25 Td (additional ) Tj ET Q q 0 0 0 rg BT 400.59 253.25 Td (sales ) Tj ET Q q 0 0 0 rg BT 422.12 253.25 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 459.75 253.25 Td (on ) Tj ET Q q 0 0 0 rg BT 471.85 253.25 Td (an ) Tj ET Q q 0 0 0 rg BT 483.38 253.25 Td (investment ) Tj ET Q q 0 0 0 rg BT 529.36 253.25 Td (that ) Tj ET Q q 0 0 0 rg BT 546.45 253.25 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 241.25 Td (realized ) Tj ET Q q 0 0 0 rg BT 84.14 241.25 Td (in ) Tj ET Q q 0 0 0 rg BT 94.42 241.25 Td (2017.) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 50 215.68505859375 m 256.9580078125 215.68505859375 l s q 0 0 0 rg BT 50.00 217.25 Td (NOTE ) Tj ET Q q 0 0 0 rg BT 80.84 217.25 Td (12. ) Tj ET Q q 0 0 0 rg BT 95.84 217.25 Td (SHARE ) Tj ET Q q 0 0 0 rg BT 132.79 217.25 Td (REPURCHASE ) Tj ET Q q 0 0 0 rg BT 204.19 217.25 Td (PROGRAM) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 205.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 193.25 Td (On ) Tj ET Q q 0 0 0 rg BT 101.32 193.25 Td (February ) Tj ET Q q 0 0 0 rg BT 140.51 193.25 Td (21, ) Tj ET Q q 0 0 0 rg BT 156.10 193.25 Td (2018, ) Tj ET Q q 0 0 0 rg BT 181.70 193.25 Td (our ) Tj ET Q q 0 0 0 rg BT 198.12 193.25 Td (Board ) Tj ET Q q 0 0 0 rg BT 225.66 193.25 Td (reauthorized ) Tj ET Q q 0 0 0 rg BT 278.72 193.25 Td (the ) Tj ET Q q 0 0 0 rg BT 294.03 193.25 Td (repurchase ) Tj ET Q q 0 0 0 rg BT 340.43 193.25 Td (of ) Tj ET Q q 0 0 0 rg BT 351.86 193.25 Td (up ) Tj ET Q q 0 0 0 rg BT 364.95 193.25 Td (to ) Tj ET Q q 0 0 0 rg BT 375.83 193.25 Td ($2.5 ) Tj ET Q q 0 0 0 rg BT 396.42 193.25 Td (million ) Tj ET Q q 0 0 0 rg BT 428.41 193.25 Td (of ) Tj ET Q q 0 0 0 rg BT 439.83 193.25 Td (the ) Tj ET Q q 0 0 0 rg BT 455.14 193.25 Td (Company's ) Tj ET Q q 0 0 0 rg BT 502.82 193.25 Td (common ) Tj ET Q q 0 0 0 rg BT 540.91 193.25 Td (stock ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 181.25 Td (within ) Tj ET Q q 0 0 0 rg BT 78.00 181.25 Td (a ) Tj ET Q q 0 0 0 rg BT 84.88 181.25 Td (six-month ) Tj ET Q q 0 0 0 rg BT 127.88 181.25 Td (period ) Tj ET Q q 0 0 0 rg BT 155.87 181.25 Td (from ) Tj ET Q q 0 0 0 rg BT 177.76 181.25 Td (the ) Tj ET Q q 0 0 0 rg BT 192.42 181.25 Td (date ) Tj ET Q q 0 0 0 rg BT 211.52 181.25 Td (of ) Tj ET Q q 0 0 0 rg BT 222.29 181.25 Td (notice ) Tj ET Q q 0 0 0 rg BT 249.17 181.25 Td (to ) Tj ET Q q 0 0 0 rg BT 259.39 181.25 Td (investors, ) Tj ET Q q 0 0 0 rg BT 300.44 181.25 Td (which ) Tj ET Q q 0 0 0 rg BT 327.32 181.25 Td (notice ) Tj ET Q q 0 0 0 rg BT 354.20 181.25 Td (was ) Tj ET Q q 0 0 0 rg BT 372.20 181.25 Td (mailed ) Tj ET Q q 0 0 0 rg BT 401.85 181.25 Td (on ) Tj ET Q q 0 0 0 rg BT 414.30 181.25 Td (or ) Tj ET Q q 0 0 0 rg BT 425.07 181.25 Td (about ) Tj ET Q q 0 0 0 rg BT 449.73 181.25 Td (February ) Tj ET Q q 0 0 0 rg BT 488.27 181.25 Td (27, ) Tj ET Q q 0 0 0 rg BT 503.22 181.25 Td (2018. ) Tj ET Q q 0 0 0 rg BT 530.66 181.25 Td (On ) Tj ET Q q 0 0 0 rg BT 545.33 181.25 Td (July ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 169.25 Td (31, ) Tj ET Q q 0 0 0 rg BT 64.70 169.25 Td (2018, ) Tj ET Q q 0 0 0 rg BT 89.39 169.25 Td (our ) Tj ET Q q 0 0 0 rg BT 104.92 169.25 Td (Board ) Tj ET Q q 0 0 0 rg BT 131.55 169.25 Td (reauthorized ) Tj ET Q q 0 0 0 rg BT 183.72 169.25 Td (the ) Tj ET Q q 0 0 0 rg BT 198.13 169.25 Td (repurchase ) Tj ET Q q 0 0 0 rg BT 243.64 169.25 Td (of ) Tj ET Q q 0 0 0 rg BT 254.16 169.25 Td (up ) Tj ET Q q 0 0 0 rg BT 266.36 169.25 Td (to ) Tj ET Q q 0 0 0 rg BT 276.33 169.25 Td ($2.5 ) Tj ET Q q 0 0 0 rg BT 296.03 169.25 Td (million ) Tj ET Q q 0 0 0 rg BT 327.12 169.25 Td (of ) Tj ET Q q 0 0 0 rg BT 337.64 169.25 Td (the ) Tj ET Q q 0 0 0 rg BT 352.06 169.25 Td (Company's ) Tj ET Q q 0 0 0 rg BT 398.83 169.25 Td (common ) Tj ET Q q 0 0 0 rg BT 436.02 169.25 Td (stock ) Tj ET Q q 0 0 0 rg BT 459.33 169.25 Td (within ) Tj ET Q q 0 0 0 rg BT 487.08 169.25 Td (a ) Tj ET Q q 0 0 0 rg BT 493.72 169.25 Td (six-month ) Tj ET Q q 0 0 0 rg BT 536.47 169.25 Td (period ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 157.25 Td (from ) Tj ET Q q 0 0 0 rg BT 71.72 157.25 Td (the ) Tj ET Q q 0 0 0 rg BT 86.21 157.25 Td (date ) Tj ET Q q 0 0 0 rg BT 105.15 157.25 Td (of ) Tj ET Q q 0 0 0 rg BT 115.76 157.25 Td (notice ) Tj ET Q q 0 0 0 rg BT 142.47 157.25 Td (to ) Tj ET Q q 0 0 0 rg BT 152.53 157.25 Td (investors, ) Tj ET Q q 0 0 0 rg BT 193.42 157.25 Td (which ) Tj ET Q q 0 0 0 rg BT 220.13 157.25 Td (notice ) Tj ET Q q 0 0 0 rg BT 246.85 157.25 Td (was ) Tj ET Q q 0 0 0 rg BT 264.68 157.25 Td (mailed ) Tj ET Q q 0 0 0 rg BT 294.17 157.25 Td (on ) Tj ET Q q 0 0 0 rg BT 305.94 157.25 Td (August ) Tj ET Q q 0 0 0 rg BT 337.12 157.25 Td (10, ) Tj ET Q q 0 0 0 rg BT 351.90 157.25 Td (2018. ) Tj ET Q q 0 0 0 rg BT 378.67 157.25 Td (As ) Tj ET Q q 0 0 0 rg BT 392.06 157.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.67 157.25 Td (December31, ) Tj ET Q q 0 0 0 rg BT 461.04 157.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.04 157.25 Td (, ) Tj ET Q q 0 0 0 rg BT 485.82 157.25 Td (no ) Tj ET Q q 0 0 0 rg BT 498.09 157.25 Td (repurchases ) Tj ET Q q 0 0 0 rg BT 547.57 157.25 Td (had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 145.25 Td (occurred. ) Tj ET Q q 0 0 0 rg BT 89.98 145.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 121.25 Td (On ) Tj ET Q q 0 0 0 rg BT 101.32 121.25 Td (February ) Tj ET Q q 0 0 0 rg BT 140.51 121.25 Td (20, ) Tj ET Q q 0 0 0 rg BT 156.10 121.25 Td (2019, ) Tj ET Q q 0 0 0 rg BT 181.70 121.25 Td (our ) Tj ET Q q 0 0 0 rg BT 198.12 121.25 Td (Board ) Tj ET Q q 0 0 0 rg BT 225.66 121.25 Td (reauthorized ) Tj ET Q q 0 0 0 rg BT 278.72 121.25 Td (the ) Tj ET Q q 0 0 0 rg BT 294.03 121.25 Td (repurchase ) Tj ET Q q 0 0 0 rg BT 340.43 121.25 Td (of ) Tj ET Q q 0 0 0 rg BT 351.86 121.25 Td (up ) Tj ET Q q 0 0 0 rg BT 364.95 121.25 Td (to ) Tj ET Q q 0 0 0 rg BT 375.83 121.25 Td ($2.5 ) Tj ET Q q 0 0 0 rg BT 396.42 121.25 Td (million ) Tj ET Q q 0 0 0 rg BT 428.41 121.25 Td (of ) Tj ET Q q 0 0 0 rg BT 439.83 121.25 Td (the ) Tj ET Q q 0 0 0 rg BT 455.14 121.25 Td (Company's ) Tj ET Q q 0 0 0 rg BT 502.82 121.25 Td (common ) Tj ET Q q 0 0 0 rg BT 540.91 121.25 Td (stock ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 109.25 Td (within ) Tj ET Q q 0 0 0 rg BT 78.46 109.25 Td (a ) Tj ET Q q 0 0 0 rg BT 85.80 109.25 Td (six-month ) Tj ET Q q 0 0 0 rg BT 129.25 109.25 Td (period ) Tj ET Q q 0 0 0 rg BT 157.70 109.25 Td (from ) Tj ET Q q 0 0 0 rg BT 180.04 109.25 Td (the ) Tj ET Q q 0 0 0 rg BT 195.16 109.25 Td (date ) Tj ET Q q 0 0 0 rg BT 214.71 109.25 Td (of ) Tj ET Q q 0 0 0 rg BT 225.94 109.25 Td (notice ) Tj ET Q q 0 0 0 rg BT 253.28 109.25 Td (to ) Tj ET Q q 0 0 0 rg BT 263.96 109.25 Td (investors, ) Tj ET Q q 0 0 0 rg BT 305.46 109.25 Td (which ) Tj ET Q q 0 0 0 rg BT 332.80 109.25 Td (notice ) Tj ET Q q 0 0 0 rg BT 360.14 109.25 Td (is ) Tj ET Q q 0 0 0 rg BT 369.71 109.25 Td (expected ) Tj ET Q q 0 0 0 rg BT 408.14 109.25 Td (to ) Tj ET Q q 0 0 0 rg BT 418.82 109.25 Td (be ) Tj ET Q q 0 0 0 rg BT 431.16 109.25 Td (mailed ) Tj ET Q q 0 0 0 rg BT 461.27 109.25 Td (on ) Tj ET Q q 0 0 0 rg BT 474.17 109.25 Td (or ) Tj ET Q q 0 0 0 rg BT 485.40 109.25 Td (about ) Tj ET Q q 0 0 0 rg BT 510.52 109.25 Td (February ) Tj ET Q q 0 0 0 rg BT 549.52 109.25 Td (28, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 97.25 Td (2019.) Tj ET Q endstream endobj 85 0 obj <> endobj 86 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (42) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 50 740.68505859375 m 260.703125 740.68505859375 l s q 0 0 0 rg BT 50.00 742.25 Td (NOTE ) Tj ET Q q 0 0 0 rg BT 80.84 742.25 Td (13. ) Tj ET Q q 0 0 0 rg BT 95.84 742.25 Td (RELA) Tj ET Q q 0 0 0 rg BT 122.88 742.25 Td (TED ) Tj ET Q q 0 0 0 rg BT 145.94 742.25 Td (P) Tj ET Q q 0 0 0 rg BT 151.31 742.25 Td (AR) Tj ET Q q 0 0 0 rg BT 165.40 742.25 Td (TY) Tj ET Q q 0 0 0 rg BT 178.92 742.25 Td ( ) Tj ET Q q 0 0 0 rg BT 181.24 742.25 Td (TRANSACTIONS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 730.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 718.25 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 718.25 Td (e ) Tj ET Q q 0 0 0 rg BT 101.48 718.25 Td (have ) Tj ET Q q 0 0 0 rg BT 122.77 718.25 Td (historically ) Tj ET Q q 0 0 0 rg BT 170.17 718.25 Td (provided ) Tj ET Q q 0 0 0 rg BT 208.12 718.25 Td (managerial ) Tj ET Q q 0 0 0 rg BT 254.95 718.25 Td (assistance ) Tj ET Q q 0 0 0 rg BT 297.34 718.25 Td (to ) Tj ET Q q 0 0 0 rg BT 307.52 718.25 Td (some ) Tj ET Q q 0 0 0 rg BT 331.04 718.25 Td (of ) Tj ET Q q 0 0 0 rg BT 341.78 718.25 Td (our ) Tj ET Q q 0 0 0 rg BT 357.51 718.25 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 394.92 718.25 Td (companies, ) Tj ET Q q 0 0 0 rg BT 442.59 718.25 Td (including ) Tj ET Q q 0 0 0 rg BT 482.77 718.25 Td (serving ) Tj ET Q q 0 0 0 rg BT 514.61 718.25 Td (as ) Tj ET Q q 0 0 0 rg BT 525.35 718.25 Td (members ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.25 Td (of ) Tj ET Q q 0 0 0 rg BT 61.39 706.25 Td (the ) Tj ET Q q 0 0 0 rg BT 76.66 706.25 Td (board ) Tj ET Q q 0 0 0 rg BT 102.48 706.25 Td (of ) Tj ET Q q 0 0 0 rg BT 113.87 706.25 Td (directors. ) Tj ET Q q 0 0 0 rg BT 154.41 706.25 Td (In ) Tj ET Q q 0 0 0 rg BT 165.79 706.25 Td (certain ) Tj ET Q q 0 0 0 rg BT 196.05 706.25 Td (cases, ) Tj ET Q q 0 0 0 rg BT 222.71 706.25 Td (we ) Tj ET Q q 0 0 0 rg BT 237.42 706.25 Td (receive ) Tj ET Q q 0 0 0 rg BT 269.34 706.25 Td (fees ) Tj ET Q q 0 0 0 rg BT 288.50 706.25 Td (for ) Tj ET Q q 0 0 0 rg BT 303.21 706.25 Td (providing ) Tj ET Q q 0 0 0 rg BT 345.15 706.25 Td (such ) Tj ET Q q 0 0 0 rg BT 366.54 706.25 Td (assistance. ) Tj ET Q q 0 0 0 rg BT 412.08 706.25 Td (During ) Tj ET Q q 0 0 0 rg BT 443.47 706.25 Td (the ) Tj ET Q q 0 0 0 rg BT 458.74 706.25 Td (year ) Tj ET Q q 0 0 0 rg BT 479.00 706.25 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.93 706.25 Td (December31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 694.25 Td (, ) Tj ET Q q 0 0 0 rg BT 75.05 694.25 Td (we ) Tj ET Q q 0 0 0 rg BT 89.26 694.25 Td (received ) Tj ET Q q 0 0 0 rg BT 125.67 694.25 Td (fees ) Tj ET Q q 0 0 0 rg BT 144.31 694.25 Td (totaling ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.41 694.25 Td ($75,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.91 694.25 Td ( ) Tj ET Q q 0 0 0 rg BT 212.46 694.25 Td (in ) Tj ET Q q 0 0 0 rg BT 222.79 694.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 243.10 694.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.09 694.25 Td ($57,940) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.59 694.25 Td ( ) Tj ET Q q 0 0 0 rg BT 295.14 694.25 Td (in ) Tj ET Q q 0 0 0 rg BT 305.46 694.25 Td (non-cash, ) Tj ET Q q 0 0 0 rg BT 346.61 694.25 Td (included ) Tj ET Q q 0 0 0 rg BT 383.59 694.25 Td (in ) Tj ET Q q 0 0 0 rg BT 393.92 694.25 Td (the ) Tj ET Q q 0 0 0 rg BT 408.68 694.25 Td (Company's ) Tj ET Q q 0 0 0 rg BT 455.81 694.25 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 511.13 694.25 Td (Statement ) Tj ET Q q 0 0 0 rg BT 553.67 694.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (Operations ) Tj ET Q q 0 0 0 rg BT 96.38 682.25 Td (in ) Tj ET Q q 0 0 0 rg BT 106.66 682.25 Td ("Fee ) Tj ET Q q 0 0 0 rg BT 127.68 682.25 Td (income ) Tj ET Q q 0 0 0 rg BT 159.61 682.25 Td (for ) Tj ET Q q 0 0 0 rg BT 173.77 682.25 Td (providing ) Tj ET Q q 0 0 0 rg BT 215.16 682.25 Td (managerial ) Tj ET Q q 0 0 0 rg BT 262.08 682.25 Td (assistance ) Tj ET Q q 0 0 0 rg BT 304.56 682.25 Td (to ) Tj ET Q q 0 0 0 rg BT 314.84 682.25 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 352.33 682.25 Td (companies." ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 50 656.68505859375 m 332.75390625 656.68505859375 l s q 0 0 0 rg BT 50.00 658.25 Td (NOTE 14. UNCONSOLIDA) Tj ET Q q 0 0 0 rg BT 170.11 658.25 Td (TED SIGNIFICANT) Tj ET Q q 0 0 0 rg BT 259.67 658.25 Td ( SUBSIDIARIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.25 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 634.25 Td (The following unconsolidated portfolio company is considered a significant subsidiary under SEC Regulation S-X ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.25 Td (Rule 10-01\(b\)\(1\) and Regulation S-X Rule 4-08\(g\) as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.01 622.25 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.59 622.25 Td (. ) Tj ET Q q 0 0 0 rg BT 361.04 622.25 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 410.38 622.25 Td (, summarized financial information is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.25 Td (presented for this unconsolidated significant subsidiary) Tj ET Q q 0 0 0 rg BT 270.14 610.25 Td (.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 586.25 Td (HALE.life Corporation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.25 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 562.25 Td (The following table shows unaudited summarized financial information for HALE.life Corporation:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 158.00 539.75 186.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 539.75 9.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 539.75 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 158.00 509.75 186.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 509.75 9.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 509.75 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 158.00 479.75 186.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 479.75 9.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 479.75 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 158.00 449.75 186.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 449.75 9.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 449.75 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 158.00 419.75 186.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 419.75 9.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 419.75 100.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 158.00 389.75 186.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 389.75 9.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 389.75 100.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353 524.75 m 453 524.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 368.85 529.43 Td (December) Tj ET Q q 0 0 0 rg BT 411.98 529.43 Td ( 31, 2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 160.50 514.43 Td (Consolidated Balance Sheet) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 166.50 499.42 Td (Current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.50 499.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.65 499.42 Td (574,550) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 166.50 484.42 Td (Noncurrent assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.65 484.42 Td (89,467) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 166.50 469.42 Td (Current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.65 469.42 Td (140,651) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 160.50 439.43 Td (Consolidated Statement of Operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 166.50 424.42 Td (Net sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.50 424.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.65 424.42 Td (24,500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 166.50 409.42 Td (Net operating loss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.80 409.47 Td (\(1,369,237) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 409.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 166.50 394.42 Td (Earnings before taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.80 394.47 Td (\(1,369,237) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 394.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 166.50 379.42 Td (Net loss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.80 379.47 Td (\(1,369,237) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 379.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 50 334.68505859375 m 205.419921875 334.68505859375 l s q 0 0 0 rg BT 50.00 336.25 Td (NOTE ) Tj ET Q q 0 0 0 rg BT 80.84 336.25 Td (15. ) Tj ET Q q 0 0 0 rg BT 95.84 336.25 Td (SUBSEQUENT) Tj ET Q q 0 0 0 rg BT 162.91 336.25 Td ( ) Tj ET Q q 0 0 0 rg BT 165.41 336.25 Td (EVENTS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 324.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 312.25 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 312.25 Td (The Company has evaluated subsequent events as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.72 312.25 Td (December31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.30 312.25 Td (, through the date these financial statements ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 300.25 Td (were issued, and include the following:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 288.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 276.25 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 276.25 Td (On January 31, 2019, the Company completed the sale of our bridge note of Genome Profiling, LLC to an undisclosed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 264.25 Td (buyer for $230,000, plus accrued interest.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 240.25 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 240.25 Td (On February 12, 2019, the shareholders of ) Tj ET Q q 0 0 0 rg BT 257.72 240.25 Td (TheStreet, Inc. \("TST"\), approved the sale of ) Tj ET Q q 0 0 0 rg BT 440.09 240.25 Td (TST's business-to-business ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 228.25 Td (segment to Euromoney Institutional Investor) Tj ET Q q 0 0 0 rg BT 228.46 228.25 Td (, PLC for $87.3 million \(the "Sale"\). ) Tj ET Q q 0 0 0 rg BT 378.93 228.25 Td (W) Tj ET Q q 0 0 0 rg BT 387.96 228.25 Td (ith this approval, ) Tj ET Q q 0 0 0 rg BT 457.77 228.25 Td (TST) Tj ET Q q 0 0 0 rg BT 475.37 228.25 Td ( communicated in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 216.25 Td (proxy materials that it expects that a substantial portion of the net proceeds from the Sale, along with a portion of its current ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 204.25 Td (cash on hand, will be distributed to ) Tj ET Q q 0 0 0 rg BT 192.57 204.25 Td (TheStreet) Tj ET Q q 0 0 0 rg BT 234.22 204.25 Td (s stockholders. ) Tj ET Q q 0 0 0 rg BT 298.48 204.25 Td (TST) Tj ET Q q 0 0 0 rg BT 316.08 204.25 Td ( estimated that its cash on hand following the closing of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 192.25 Td (Sale and payment of certain Sale-related costs and expenses will be approximately $1) Tj ET Q q 0 0 0 rg BT 392.29 192.25 Td (15-120 million in the aggregate. Should ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 180.25 Td (the amount be in excess of the invested capital and accrued management fees and expenses of ) Tj ET Q q 0 0 0 rg BT 427.45 180.25 Td (TST) Tj ET Q q 0 0 0 rg BT 445.04 180.25 Td ( SPV) Tj ET Q q 0 0 0 rg BT 464.60 180.25 Td (, the Company would ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 168.25 Td (receive carried interest from such distribution. ) Tj ET Q q 0 0 0 rg BT 239.75 168.25 Td (The size and timing of any distribution remain uncertain as of the date of these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 156.25 Td (financial statements.) Tj ET Q endstream endobj 87 0 obj <> endobj 88 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (43) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 50 740.68505859375 m 429.0673828125 740.68505859375 l s q 0 0 0 rg BT 50.00 742.25 Td (NOTE 16. INVESTMENTS IN ) Tj ET Q q 0 0 0 rg BT 184.20 742.25 Td (AND ) Tj ET Q q 0 0 0 rg BT 207.81 742.25 Td (ADV) Tj ET Q q 0 0 0 rg BT 228.19 742.25 Td (ANCES ) Tj ET Q q 0 0 0 rg BT 264.40 742.25 Td (T) Tj ET Q q 0 0 0 rg BT 270.89 742.25 Td (O ) Tj ET Q q 0 0 0 rg BT 280.62 742.25 Td (AFFILIA) Tj ET Q q 0 0 0 rg BT 320.99 742.25 Td (TES - SCHEDULE 12-14) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 686.75 74.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 123.50 686.75 4.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 127.50 686.75 68.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 195.50 686.75 4.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 199.50 686.75 50.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 249.50 686.75 4.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 686.75 47.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.50 686.75 4.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.50 686.75 45.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 686.75 4.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 686.75 44.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 397.50 686.75 4.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 686.75 47.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 686.75 4.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 452.50 686.75 57.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 686.75 4.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 686.75 48.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 467.75 74.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 123.50 467.75 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 127.50 467.75 68.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 195.50 467.75 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 199.50 467.75 50.00 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372.00 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 341.65 372.00 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 361.60 372.00 Td (2,500,871) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 440.65 372.00 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 493.65 372.00 Td (871) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 525.60 372.00 Td (2,500,871) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 358.98 Td (SynGlyco, Inc.) 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1 rg /GS0 gs 127.50 369.50 68.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 195.50 369.50 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 199.50 369.50 50.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 249.50 369.50 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 369.50 47.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.50 369.50 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.50 369.50 45.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 369.50 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 369.50 44.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 397.50 369.50 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 369.50 47.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 369.50 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 452.50 369.50 57.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 369.50 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 369.50 48.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 340.50 74.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 123.50 340.50 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 127.50 340.50 68.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 195.50 340.50 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 199.50 340.50 50.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 249.50 340.50 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 340.50 47.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.50 340.50 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.50 340.50 45.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 340.50 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 340.50 44.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 397.50 340.50 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 340.50 47.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 340.50 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 452.50 340.50 57.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 340.50 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 340.50 48.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 182.50 74.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 123.50 182.50 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 127.50 182.50 68.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 195.50 182.50 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 199.50 182.50 50.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 249.50 182.50 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.50 182.50 47.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.50 182.50 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.50 182.50 45.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 349.50 182.50 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 182.50 44.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 397.50 182.50 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.50 182.50 47.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.50 182.50 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 452.50 182.50 57.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.50 182.50 4.00 -29.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.50 182.50 48.00 -29.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 696.5 m 123.5 696.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 127.5 696.5 m 195.5 696.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 199.5 696.5 m 249.5 696.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 696.5 m 300.5 696.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 696.5 m 349.5 696.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 696.5 m 397.5 696.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 696.5 m 448.5 696.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452.5 696.5 m 509.5 696.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 696.5 m 561.5 696.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 50 m 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 127.5 50 m 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 199.5 50 m 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 50 m 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 50 m 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 50 m 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 50 m 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452.5 50 m 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 50 m BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 700.73 Td (Name of Issuer) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 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Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 307.95 716.73 Td (V) Tj ET Q q 0 0 0 rg BT 312.99 716.73 Td (alue as of ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 309.25 708.73 Td (December) Tj ET Q q 0 0 0 rg BT 343.75 708.73 Td ( ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 312.50 700.73 Td (31, 2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 365.05 716.73 Td (Gr) Tj ET Q q 0 0 0 rg BT 374.68 716.73 Td (oss ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 358.30 708.73 Td (Additions ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 369.40 700.73 Td (\(C\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 414.55 716.73 Td (Gr) Tj ET Q q 0 0 0 rg BT 424.18 716.73 Td (oss ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 405.35 708.73 Td (Reductions ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 418.90 700.73 Td (\(D\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 456.05 724.73 Td (Net Change in ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 461.90 716.73 Td (Unr) Tj ET Q q 0 0 0 rg BT 475.53 716.73 Td (ealized ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 458.10 708.73 Td (Appr) Tj ET Q q 0 0 0 rg BT 476.18 708.73 Td (eciation ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 455.90 700.73 Td (\(Depr) Tj ET Q q 0 0 0 rg BT 475.75 700.73 Td (eciation\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 518.45 716.73 Td (V) Tj ET Q q 0 0 0 rg BT 523.49 716.73 Td (alue as of ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 519.75 708.73 Td (December) Tj ET Q q 0 0 0 rg BT 554.25 708.73 Td ( ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 523.00 700.73 Td (31, 2018) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 687.73 Td (NON-) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 679.73 Td (CONTROLLED) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 671.73 Td (AFFILIA) Tj ET Q q 0 0 0 rg BT 84.59 671.73 Td (TED) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 663.73 Td (PRIV) Tj ET Q q 0 0 0 rg BT 71.04 663.73 Td (A) Tj ET Q q 0 0 0 rg BT 76.00 663.73 Td (TEL) Tj ET Q q 0 0 0 rg BT 91.35 663.73 Td (Y) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 655.73 Td (HELD) Tj ET Q BT 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ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 440.65 618.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 455.00 618.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 473.65 618.75 Td (1,858,749) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 516.00 618.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 521.60 618.75 Td (10,442,684) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 130.00 605.75 Td (Series ) Tj ET Q q 0 0 0 rg BT 151.33 605.75 Td (A-2) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 130.00 597.75 Td (Convertible) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 130.00 589.75 Td (Preferred Stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 241.65 589.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 292.65 589.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 313.60 589.75 Td (1,838,865) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.60 589.75 Td (375,193) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 440.65 589.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 479.65 589.75 Td (375,193) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 525.60 589.75 Td (2,214,058) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 130.00 576.75 Td (Series B) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 130.00 568.75 Td (Convertible) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 130.00 560.75 Td (Preferred Stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 241.65 560.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 292.65 560.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 319.60 560.75 Td (884,777) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 371.65 560.75 Td (66,302) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 440.65 560.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 483.65 560.75 Td (66,302) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 531.65 560.75 Td (951,079) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 547.73 Td (Coba ) Tj ET Q q 0 0 0 rg BT 72.15 547.73 Td (Therapeutics) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 539.73 Td (Corporation) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 130.00 547.75 Td (Convertible Bridge) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 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0.9333333333333333 1 rg /GS0 gs 52.00 516.15 51.33 -7.14 re f /GS0 gs q 0 0 0 rg BT 52.00 510.73 Td (EchoPixel, Inc.) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 130.00 532.30 37.10 -7.27 re f /GS0 gs q 0 0 0 rg BT 130.00 526.75 Td (Series Seed) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 130.00 524.30 37.77 -7.27 re f /GS0 gs q 0 0 0 rg BT 130.00 518.75 Td (Convertible) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 130.00 516.30 49.98 -7.27 re f /GS0 gs q 0 0 0 rg BT 130.00 510.75 Td (Preferred Stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 202.00 510.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 241.65 510.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 256.00 510.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 292.65 510.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 307.00 510.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 319.60 510.75 Td (945,726) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 356.00 510.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.60 510.75 Td (255,297) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 404.00 510.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 440.65 510.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 455.00 510.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 479.65 510.75 Td (255,297) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 516.00 510.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 525.60 510.75 Td (1,201,023) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 130.00 503.30 43.77 -7.27 re f /GS0 gs q 0 0 0 rg BT 130.00 497.75 Td (Series Seed-2) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 130.00 495.30 37.77 -7.27 re f /GS0 gs q 0 0 0 rg BT 130.00 489.75 Td (Convertible) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 130.00 487.30 49.98 -7.27 re f /GS0 gs q 0 0 0 rg BT 130.00 481.75 Td (Preferred Stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 241.65 481.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 292.65 481.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 319.60 481.75 Td (337,930) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 371.65 481.75 Td (91,802) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 440.65 481.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 483.65 481.75 Td (91,802) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 531.65 481.75 Td (429,732) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 130.00 474.30 33.55 -7.27 re f /GS0 gs q 0 0 0 rg BT 130.00 468.75 Td (Series ) Tj ET Q q 0 0 0 rg BT 151.11 468.75 Td (A-2) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 130.00 466.30 37.77 -7.27 re f /GS0 gs q 0 0 0 rg BT 130.00 460.75 Td (Convertible) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 130.00 458.30 49.98 -7.27 re f /GS0 gs q 0 0 0 rg BT 130.00 452.75 Td (Preferred Stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 241.65 452.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 292.65 452.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 319.60 452.75 Td (412,209) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 371.65 452.75 Td (87,407) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 440.65 452.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 483.65 452.75 Td (87,407) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 531.65 452.75 Td (499,616) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 439.73 Td (Ensemble) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 431.73 Td (Therapeutics) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 423.73 Td (Corporation) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 130.00 439.75 Td (Series B) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 130.00 431.75 Td (Convertible) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 130.00 423.75 Td (Preferred Stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 202.00 423.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 241.65 423.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 256.00 423.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 261.95 423.75 Td (\(2,000,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 296.65 423.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 307.00 423.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 341.65 423.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 356.00 423.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 389.65 423.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 404.00 423.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 440.65 423.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 455.00 423.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 473.65 423.75 Td (2,000,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 516.00 423.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 553.65 423.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 130.00 410.75 Td (Series B-1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 130.00 402.75 Td (Convertible) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 130.00 394.75 Td (Preferred Stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 241.65 394.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 267.95 394.75 Td (\(456,752) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 296.65 394.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 319.60 394.75 Td (173,143) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 389.65 394.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 415.95 394.75 Td (\(173,143) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 444.65 394.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 479.65 394.75 Td (400,936) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 553.65 394.75 Td (0) Tj ET Q BT /F2 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 52.00 387.15 55.78 -7.14 re f /GS0 gs q 0 0 0 rg BT 52.00 381.73 Td (Essential Health) Tj ET Q BT /F2 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 52.00 379.15 48.68 -7.14 re f /GS0 gs q 0 0 0 rg BT 52.00 373.73 Td (Solutions, Inc.) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 130.00 379.30 50.00 -7.27 re f /GS0 gs q 0 0 0 rg BT 130.00 373.75 Td (Common Stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 202.00 373.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 241.65 373.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 256.00 373.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 292.65 373.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 307.00 373.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 319.60 373.75 Td (145,218) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 356.00 373.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 389.65 373.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 404.00 373.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 419.95 373.75 Td (\(16,879) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 444.65 373.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 455.00 373.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 480.95 373.75 Td (\(16,879) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 505.65 373.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 516.00 373.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 531.65 373.75 Td (128,339) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 130.00 366.30 26.67 -7.27 re f /GS0 gs q 0 0 0 rg BT 130.00 360.75 Td (Series ) Tj ET Q q 0 0 0 rg BT 151.11 360.75 Td (A) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 130.00 358.30 37.77 -7.27 re f /GS0 gs q 0 0 0 rg BT 130.00 352.75 Td (Convertible) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 130.00 350.30 49.98 -7.27 re f /GS0 gs q 0 0 0 rg BT 130.00 344.75 Td (Preferred Stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 241.65 344.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 292.65 344.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 313.60 344.75 Td (3,169,662) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 389.65 344.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 415.95 344.75 Td (\(388,362) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 444.65 344.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.95 344.75 Td (\(388,362) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 505.65 344.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 525.60 344.75 Td (2,781,300) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 130.00 337.30 34.21 -7.27 re f /GS0 gs q 0 0 0 rg BT 130.00 331.75 Td (Unsecured) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 130.00 329.30 61.54 -7.27 re f /GS0 gs q 0 0 0 rg BT 130.00 323.75 Td (Convertible Bridge) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 130.00 321.30 15.55 -7.27 re f /GS0 gs q 0 0 0 rg BT 130.00 315.75 Td (Note) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 233.65 315.75 Td (142) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 292.65 315.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 341.65 315.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 371.65 315.75 Td (50,142) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 440.65 315.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 501.65 315.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 535.65 315.75 Td (50,142) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 302.73 Td (HZO, Inc.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 130.00 302.75 Td (Common Stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 202.00 302.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 241.65 302.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 256.00 302.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 267.95 302.75 Td (\(155,665) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 296.65 302.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 307.00 302.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 319.60 302.75 Td (473,896) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 356.00 302.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 389.65 302.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 404.00 302.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 415.95 302.75 Td (\(473,896) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 444.65 302.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 455.00 302.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 479.65 302.75 Td (192,771) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 516.00 302.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 553.65 302.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 130.00 289.75 Td (Series I) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 130.00 281.75 Td (Convertible) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 130.00 273.75 Td (Preferred Stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 241.65 273.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 261.95 273.75 Td (\(1,333,236) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 296.65 273.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 313.60 273.75 Td (4,074,569) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 389.65 273.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 409.95 273.75 Td (\(4,074,569) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 444.65 273.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 473.65 273.75 Td (1,635,266) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 553.65 273.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 130.00 260.75 Td (Series II) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 130.00 252.75 Td (Convertible) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 130.00 244.75 Td (Preferred Stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 241.65 244.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 267.95 244.75 Td (\(583,747) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 296.65 244.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 313.60 244.75 Td (1,571,541) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 389.65 244.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 409.95 244.75 Td (\(1,571,541) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 444.65 244.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 479.65 244.75 Td (928,465) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 553.65 244.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 130.00 231.75 Td (Series II-A) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 130.00 223.75 Td (Convertible) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 130.00 215.75 Td (Preferred Stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 241.65 215.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 271.95 215.75 Td (\(52,787) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 296.65 215.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 319.60 215.75 Td (188,810) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 389.65 215.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 415.95 215.75 Td (\(188,810) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 444.65 215.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 483.65 215.75 Td (37,260) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 553.65 215.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 130.00 202.75 Td (W) Tj ET Q q 0 0 0 rg BT 137.23 202.75 Td (arrants for Series) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 130.00 194.75 Td (II-A) Tj ET Q q 0 0 0 rg BT 143.55 194.75 Td ( Convertible) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 130.00 186.75 Td (Preferred Stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 241.65 186.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 275.95 186.75 Td (\(6,963) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 296.65 186.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 323.65 186.75 Td (17,925) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 389.65 186.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 419.95 186.75 Td (\(17,925) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 444.65 186.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 483.65 186.75 Td (1) Tj ET Q q 0 0 0 rg BT 487.65 186.75 Td (1,895) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 553.65 186.75 Td (0) Tj ET Q BT /F2 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 52.00 171.15 64.53 -7.14 re f /GS0 gs q 0 0 0 rg BT 52.00 165.73 Td (Lodo ) Tj ET Q q 0 0 0 rg BT 71.64 165.73 Td (Therapeutics) Tj ET Q BT /F2 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 52.00 163.15 42.66 -7.14 re f /GS0 gs q 0 0 0 rg BT 52.00 157.73 Td (Corporation) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 130.00 179.30 26.67 -7.27 re f /GS0 gs q 0 0 0 rg BT 130.00 173.75 Td (Series ) Tj ET Q q 0 0 0 rg BT 151.11 173.75 Td (A) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 130.00 171.30 37.77 -7.27 re f /GS0 gs q 0 0 0 rg BT 130.00 165.75 Td (Convertible) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 130.00 163.30 49.98 -7.27 re f /GS0 gs q 0 0 0 rg BT 130.00 157.75 Td (Preferred Stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 202.00 157.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 241.65 157.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 256.00 157.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 292.65 157.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 307.00 157.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 319.60 157.75 Td (777,896) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 356.00 157.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.65 157.75 Td (1,571) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 404.00 157.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 440.65 157.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 455.00 157.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 487.65 157.75 Td (1,571) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 516.00 157.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 531.65 157.75 Td (779,467) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 128.73 Td (NGX Bio, Inc.) 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1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 705.5 m 300.5 705.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 705.5 m 349.5 705.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 705.5 m 397.5 705.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 705.5 m 448.5 705.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452.5 705.5 m 509.5 705.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 705.5 m 561.5 705.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 705.5 m 123.5 705.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 373.5 m 300.5 373.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 199.5 373.5 m 249.5 373.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 199.5 328.5 m 249.5 328.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 249.5 373.5 m 253.5 373.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 249.5 328.5 m 253.5 328.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 373.5 m 300.5 373.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 328.5 m 300.5 328.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 300.5 373.5 m 304.5 373.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 300.5 328.5 m 304.5 328.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 373.5 m 349.5 373.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 328.5 m 349.5 328.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 349.5 373.5 m 353.5 373.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 349.5 328.5 m 353.5 328.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 373.5 m 397.5 373.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 328.5 m 397.5 328.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 373.5 m 401.5 373.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 328.5 m 401.5 328.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 373.5 m 448.5 373.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 328.5 m 448.5 328.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 373.5 m 452.5 373.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 328.5 m 452.5 328.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452.5 373.5 m 509.5 373.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452.5 328.5 m 509.5 328.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 373.5 m 513.5 373.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 328.5 m 513.5 328.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 373.5 m 561.5 373.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 328.5 m 561.5 328.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 199.5 200.5 m 249.5 200.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 249.5 200.5 m 253.5 200.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 200.5 m 300.5 200.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 300.5 200.5 m 304.5 200.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 200.5 m 349.5 200.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 349.5 200.5 m 353.5 200.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 200.5 m 397.5 200.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 200.5 m 401.5 200.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 200.5 m 448.5 200.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 200.5 m 452.5 200.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452.5 200.5 m 509.5 200.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 200.5 m 513.5 200.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 200.5 m 561.5 200.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 163.5 m 300.5 163.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 163.5 m 349.5 163.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 163.5 m 397.5 163.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 163.5 m 448.5 163.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452.5 163.5 m 509.5 163.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 163.5 m 561.5 163.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 199.5 163.5 m 249.5 163.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 199.5 111.5 m 249.5 111.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 199.5 109.5 m 249.5 109.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 249.5 163.5 m 253.5 163.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 249.5 111.5 m 253.5 111.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 249.5 109.5 m 253.5 109.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 163.5 m 300.5 163.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 111.5 m 300.5 111.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 109.5 m 300.5 109.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 300.5 163.5 m 304.5 163.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 300.5 111.5 m 304.5 111.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 300.5 109.5 m 304.5 109.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 163.5 m 349.5 163.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 111.5 m 349.5 111.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 109.5 m 349.5 109.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 349.5 163.5 m 353.5 163.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 349.5 111.5 m 353.5 111.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 349.5 109.5 m 353.5 109.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 163.5 m 397.5 163.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 111.5 m 397.5 111.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 109.5 m 397.5 109.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 163.5 m 401.5 163.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 111.5 m 401.5 111.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397.5 109.5 m 401.5 109.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 163.5 m 448.5 163.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 111.5 m 448.5 111.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 109.5 m 448.5 109.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 163.5 m 452.5 163.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 111.5 m 452.5 111.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 448.5 109.5 m 452.5 109.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452.5 163.5 m 509.5 163.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452.5 111.5 m 509.5 111.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452.5 109.5 m 509.5 109.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 163.5 m 513.5 163.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 111.5 m 513.5 111.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.5 109.5 m 513.5 109.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 163.5 m 561.5 163.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 111.5 m 561.5 111.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 109.5 m 561.5 109.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 47 m 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 127.5 47 m 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 199.5 47 m 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253.5 47 m 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 47 m 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 47 m 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401.5 47 m 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452.5 47 m 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513.5 47 m BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 709.73 Td (Name of Issuer) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 130.00 725.73 Td (T) Tj ET Q q 0 0 0 rg BT 135.19 725.73 Td (itle of Issue or) Tj ET Q q 0 0 0 rg BT 183.26 725.73 Td ( ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 130.00 717.73 Td (Natur) Tj ET Q q 0 0 0 rg BT 150.30 717.73 Td (e of ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 130.00 709.73 Td (Indebtedness \(A\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 205.65 740.58 Td (Amount of ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 202.15 732.58 Td (Dividends or) Tj ET Q q 0 0 0 rg BT 245.79 732.58 Td ( ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 210.70 724.58 Td (Inter) Tj ET Q q 0 0 0 rg BT 227.88 724.58 Td (est ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 204.60 716.58 Td (Cr) Tj ET Q q 0 0 0 rg BT 213.78 716.58 Td (edited to ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 205.00 708.58 Td (Income \(B\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 270.50 725.73 Td (Net ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 261.80 717.73 Td (Realized ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 256.60 709.73 Td (Gain \(Loss\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 307.95 725.73 Td (V) Tj ET Q q 0 0 0 rg BT 312.99 725.73 Td (alue as of ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 309.25 717.73 Td (December) Tj ET Q q 0 0 0 rg BT 343.75 717.73 Td ( ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 312.50 709.73 Td (31, 2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 365.05 725.73 Td (Gr) Tj ET Q q 0 0 0 rg BT 374.68 725.73 Td (oss ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 358.30 717.73 Td (Additions ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 369.40 709.73 Td (\(C\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 414.55 725.73 Td (Gr) Tj ET Q q 0 0 0 rg BT 424.18 725.73 Td (oss ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 405.35 717.73 Td (Reductions ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 418.90 709.73 Td (\(D\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 456.05 733.73 Td (Net Change in ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 461.90 725.73 Td (Unr) Tj ET Q q 0 0 0 rg BT 475.53 725.73 Td (ealized ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 458.10 717.73 Td (Appr) Tj ET Q q 0 0 0 rg BT 476.18 717.73 Td (eciation ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 455.90 709.73 Td (\(Depr) Tj ET Q q 0 0 0 rg BT 475.75 709.73 Td (eciation\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 518.45 725.73 Td (V) Tj ET Q q 0 0 0 rg BT 523.49 725.73 Td (alue as of ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 519.75 717.73 Td (December) Tj ET Q q 0 0 0 rg BT 554.25 717.73 Td ( ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 523.00 709.73 Td (31, 2018) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 696.73 Td (NON-) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 688.73 Td (CONTROLLED) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 680.73 Td (AFFILIA) Tj ET Q q 0 0 0 rg BT 84.59 680.73 Td (TED) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 672.73 Td (PRIV) Tj ET Q q 0 0 0 rg BT 71.04 672.73 Td (A) Tj ET Q q 0 0 0 rg BT 76.00 672.73 Td (TEL) Tj ET Q q 0 0 0 rg BT 91.35 672.73 Td (Y) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 664.73 Td (HELD) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 656.73 Td (COMP) Tj ET Q q 0 0 0 rg BT 76.14 656.73 Td (ANIES\(F\):) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 627.73 Td (ORIG3N, Inc.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 130.00 643.75 Td (Series 1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 130.00 635.75 Td (Convertible) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 130.00 627.75 Td (Preferred Stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 202.00 627.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 241.65 627.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 256.00 627.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 292.65 627.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 307.00 627.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 319.60 627.75 Td (907,129) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 356.00 627.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.60 627.75 Td (325,373) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 404.00 627.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 440.65 627.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 455.00 627.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 479.65 627.75 Td (325,373) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 516.00 627.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 525.60 627.75 Td (1,232,502) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 130.00 614.75 Td (Series ) Tj ET Q q 0 0 0 rg BT 151.33 614.75 Td (A) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 130.00 606.75 Td (Convertible) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 130.00 598.75 Td (Preferred Stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 241.65 598.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 292.65 598.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 313.60 598.75 Td (1,305,499) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 367.60 598.75 Td (126,437) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 440.65 598.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 479.65 598.75 Td (126,437) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 525.60 598.75 Td (1,431,936) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 130.00 585.75 Td (Series ) Tj ET Q q 0 0 0 rg BT 151.33 585.75 Td (A-2) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 130.00 577.75 Td (Convertible) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 130.00 569.75 Td (Preferred Stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 241.65 569.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 292.65 569.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 319.60 569.75 Td (169,890) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 371.65 569.75 Td (19,702) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 440.65 569.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 480.95 569.75 Td (\(30,102) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 505.65 569.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 531.65 569.75 Td (189,592) Tj ET Q BT /F2 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 52.00 562.15 55.85 -7.14 re f /GS0 gs q 0 0 0 rg BT 52.00 556.73 Td (Pr) Tj ET Q q 0 0 0 rg BT 60.29 556.73 Td (oduced ) Tj ET Q q 0 0 0 rg BT 86.60 556.73 Td (W) Tj ET Q q 0 0 0 rg BT 94.16 556.73 Td (ater) Tj ET Q BT /F2 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 52.00 554.15 56.23 -7.14 re f /GS0 gs q 0 0 0 rg BT 52.00 548.73 Td (Absorbents, Inc.) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 130.00 562.30 40.00 -7.27 re f /GS0 gs q 0 0 0 rg BT 130.00 556.75 Td (W) Tj ET Q q 0 0 0 rg BT 136.91 556.75 Td (arrants for) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 130.00 554.30 50.00 -7.27 re f /GS0 gs q 0 0 0 rg BT 130.00 548.75 Td (Common Stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 202.00 548.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 241.65 548.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 256.00 548.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 292.65 548.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 307.00 548.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 341.65 548.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 356.00 548.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 389.65 548.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 404.00 548.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 440.65 548.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 455.00 548.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 501.65 548.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 516.00 548.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 553.65 548.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 130.00 541.30 50.00 -7.27 re f /GS0 gs q 0 0 0 rg BT 130.00 535.75 Td (Common Stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 241.65 535.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 292.65 535.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 341.65 535.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 389.65 535.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 440.65 535.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 501.65 535.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 553.65 535.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 130.00 522.75 Td (Senior Secured) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 130.00 514.75 Td (Debt \(H\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 219.65 514.75 Td (133,121) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 292.65 514.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 319.60 514.75 Td (357,407) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 389.65 514.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 415.95 514.75 Td (\(280,544) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 444.65 514.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 476.95 514.75 Td (\(463,227) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 505.65 514.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 535.65 514.75 Td (76,863) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 493.73 Td (Senova Systems,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 485.73 Td (Inc.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 130.00 501.75 Td (Series B-1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 130.00 493.75 Td (Convertible) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 130.00 485.75 Td (Preferred Stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 202.00 485.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 241.65 485.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 256.00 485.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 261.95 485.75 Td (\(1,083,960) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 296.65 485.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 307.00 485.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 341.65 485.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 356.00 485.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 389.65 485.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 404.00 485.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 440.65 485.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 455.00 485.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 473.65 485.75 Td (1,083,960) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 516.00 485.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 553.65 485.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 130.00 472.75 Td (Series C) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 130.00 464.75 Td (Convertible) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 130.00 456.75 Td (Preferred Stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 241.65 456.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 261.95 456.75 Td (\(1,208,287) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 296.65 456.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 341.65 456.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 389.65 456.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 440.65 456.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 473.65 456.75 Td (1,208,287) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 553.65 456.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 130.00 435.75 Td (W) Tj ET Q q 0 0 0 rg BT 137.23 435.75 Td (arrants for Series) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 130.00 427.75 Td (B Preferred Stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 241.65 427.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 271.95 427.75 Td (\(20,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 296.65 427.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 341.65 427.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 389.65 427.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 440.65 427.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 483.65 427.75 Td (20,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 553.65 427.75 Td (0) Tj ET Q BT /F2 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 52.00 420.15 63.41 -7.14 re f /GS0 gs q 0 0 0 rg BT 52.00 414.73 Td (T) Tj ET Q q 0 0 0 rg BT 56.74 414.73 Td (ARA) Tj ET Q q 0 0 0 rg BT 73.63 414.73 Td ( Biosystems,) Tj ET Q BT /F2 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 52.00 412.15 13.11 -7.14 re f /GS0 gs q 0 0 0 rg BT 52.00 406.73 Td (Inc.) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 130.00 412.30 50.00 -7.27 re f /GS0 gs q 0 0 0 rg BT 130.00 406.75 Td (Common Stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 202.00 406.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 241.65 406.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 256.00 406.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 292.65 406.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 307.00 406.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 319.60 406.75 Td (651,642) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 356.00 406.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.65 406.75 Td (7,520) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 404.00 406.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 440.65 406.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 455.00 406.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 487.65 406.75 Td (7,520) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 516.00 406.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 531.65 406.75 Td (659,162) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 130.00 399.30 26.67 -7.27 re f /GS0 gs q 0 0 0 rg BT 130.00 393.75 Td (Series ) Tj ET Q q 0 0 0 rg BT 151.11 393.75 Td (A) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 130.00 391.30 37.77 -7.27 re f /GS0 gs q 0 0 0 rg BT 130.00 385.75 Td (Convertible) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 130.00 383.30 49.98 -7.27 re f /GS0 gs q 0 0 0 rg BT 130.00 377.75 Td (Preferred Stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 241.65 377.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 292.65 377.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 313.60 377.75 Td (2,802,573) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 371.65 377.75 Td (39,820) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 440.65 377.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 483.65 377.75 Td (39,820) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 525.60 377.75 Td (2,842,393) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 356.73 Td (T) Tj ET Q q 0 0 0 rg BT 56.97 356.73 Td (otal Non-) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 348.73 Td (Contr) Tj ET Q q 0 0 0 rg BT 72.37 348.73 Td (olled) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 340.73 Td (Affiliated Privately) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 332.73 Td (Held Companies\(I\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 202.00 332.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 219.65 332.73 Td (149,339) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 256.00 332.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 261.95 332.73 Td (\(6,901,397) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 296.65 332.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 307.00 332.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 309.60 332.73 Td (32,491,545) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 356.00 332.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 361.60 332.73 Td (3,337,091) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 404.00 332.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 409.95 332.73 Td (\(9,399,333) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 444.65 332.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 455.00 332.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 473.65 332.73 Td (7,512,247) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 516.00 332.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 521.60 332.73 Td (26,429,303) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 306.73 Td (NON-) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 298.73 Td (CONTROLLED) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 290.73 Td (AFFILIA) Tj ET Q q 0 0 0 rg BT 84.59 290.73 Td (TED) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 282.73 Td (PUBLICL) Tj ET Q q 0 0 0 rg BT 87.20 282.73 Td (Y) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 274.73 Td (TRADED) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 266.73 Td (SECURITIES\(F\):) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 253.73 Td (Synacor) Tj ET Q q 0 0 0 rg BT 79.63 253.73 Td (, Inc.) 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Tf ET q 0 0 0 rg BT 518.45 717.73 Td (V) Tj ET Q q 0 0 0 rg BT 523.49 717.73 Td (alue as of) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 519.75 709.73 Td (December) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 523.00 701.73 Td (31, 2018) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 688.73 Td (EQUITY) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 680.73 Td (METHOD) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 672.73 Td (PRIV) Tj ET Q q 0 0 0 rg BT 71.04 672.73 Td (A) Tj ET Q q 0 0 0 rg BT 76.00 672.73 Td (TEL) Tj ET Q q 0 0 0 rg BT 91.35 672.73 Td (Y) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 664.73 Td (HELD COMP) Tj ET Q q 0 0 0 rg BT 100.81 664.73 Td (ANY) Tj ET Q q 0 0 0 rg BT 117.48 664.73 Td (:) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 651.73 Td (Accelerator) Tj ET Q q 0 0 0 rg BT 91.90 651.73 Td ( IV) Tj ET Q q 0 0 0 rg BT 102.42 651.73 Td (-New) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 643.73 Td (Y) Tj ET Q q 0 0 0 rg BT 57.33 643.73 Td (ork Corporation) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 130.00 651.75 Td (Series ) Tj ET Q q 0 0 0 rg BT 151.11 651.75 Td (A) Tj ET Q q 0 0 0 rg BT 156.45 651.75 Td ( Common) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 130.00 643.75 Td (Stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 202.00 643.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 241.65 643.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 256.00 643.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 292.65 643.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 307.00 643.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 319.60 643.75 Td (256,622) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 356.00 643.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 389.65 643.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 404.00 643.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 419.95 643.75 Td (\(10,393) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 444.65 643.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 455.00 643.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 501.65 643.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 516.00 643.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 531.65 643.75 Td (246,229) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 630.73 Td (T) Tj ET Q q 0 0 0 rg BT 56.60 630.73 Td (otal Equity) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 622.73 Td (Method Privately) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 614.73 Td (Held Company) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 202.00 614.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 241.65 614.73 Td (0) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 256.00 614.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 292.65 614.73 Td (0) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 307.00 614.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 319.60 614.73 Td (256,622) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 356.00 614.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 389.65 614.73 Td (0) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 404.00 614.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 419.95 614.73 Td (\(10,393) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 444.65 614.73 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 455.00 614.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 501.65 614.73 Td (0) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 516.00 614.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 531.65 614.73 Td (246,229) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 570.00 Td (\(A\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 570.00 Td (Common ) Tj ET Q q 0 0 0 rg BT 125.23 570.00 Td (stock, ) Tj ET Q q 0 0 0 rg BT 150.84 570.00 Td (warrants, ) Tj ET Q q 0 0 0 rg BT 189.77 570.00 Td (membership ) Tj ET Q q 0 0 0 rg BT 241.21 570.00 Td (units ) Tj ET Q q 0 0 0 rg BT 262.66 570.00 Td (and, ) Tj ET Q q 0 0 0 rg BT 281.60 570.00 Td (in ) Tj ET Q q 0 0 0 rg BT 291.38 570.00 Td (some ) Tj ET Q q 0 0 0 rg BT 314.49 570.00 Td (cases, ) Tj ET Q q 0 0 0 rg BT 340.09 570.00 Td (preferred ) Tj ET Q q 0 0 0 rg BT 378.72 570.00 Td (stock ) Tj ET Q q 0 0 0 rg BT 401.83 570.00 Td (are ) Tj ET Q q 0 0 0 rg BT 416.04 570.00 Td (generally ) Tj ET Q q 0 0 0 rg BT 455.25 570.00 Td (non-income ) Tj ET Q q 0 0 0 rg BT 505.01 570.00 Td (producing ) Tj ET Q q 0 0 0 rg BT 547.56 570.00 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 558.00 Td (restricted. ) Tj ET Q q 0 0 0 rg BT 129.34 558.00 Td (The ) Tj ET Q q 0 0 0 rg BT 148.81 558.00 Td (principal ) Tj ET Q q 0 0 0 rg BT 188.27 558.00 Td (amount ) Tj ET Q q 0 0 0 rg BT 222.19 558.00 Td (of ) Tj ET Q q 0 0 0 rg BT 234.44 558.00 Td (debt ) Tj ET Q q 0 0 0 rg BT 255.58 558.00 Td (and ) Tj ET Q q 0 0 0 rg BT 273.94 558.00 Td (the ) Tj ET Q q 0 0 0 rg BT 290.08 558.00 Td (number ) Tj ET Q q 0 0 0 rg BT 324.55 558.00 Td (of ) Tj ET Q q 0 0 0 rg BT 336.81 558.00 Td (shares ) Tj ET Q q 0 0 0 rg BT 365.72 558.00 Td (of ) Tj ET Q q 0 0 0 rg BT 377.97 558.00 Td (common ) Tj ET Q q 0 0 0 rg BT 416.89 558.00 Td (and ) Tj ET Q q 0 0 0 rg BT 435.25 558.00 Td (preferred ) Tj ET Q q 0 0 0 rg BT 475.81 558.00 Td (stock ) Tj ET Q q 0 0 0 rg BT 500.84 558.00 Td (and ) Tj ET Q q 0 0 0 rg BT 519.20 558.00 Td (number ) Tj ET Q q 0 0 0 rg BT 553.67 558.00 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 546.00 Td (membership ) Tj ET Q q 0 0 0 rg BT 137.93 546.00 Td (units ) Tj ET Q q 0 0 0 rg BT 159.88 546.00 Td (are ) Tj ET Q q 0 0 0 rg BT 174.59 546.00 Td (shown ) Tj ET Q q 0 0 0 rg BT 203.20 546.00 Td (in ) Tj ET Q q 0 0 0 rg BT 213.48 546.00 Td (the ) Tj ET Q q 0 0 0 rg BT 228.20 546.00 Td (accompanying ) Tj ET Q q 0 0 0 rg BT 289.01 546.00 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 344.28 546.00 Td (Schedule ) Tj ET Q q 0 0 0 rg BT 383.44 546.00 Td (of ) Tj ET Q q 0 0 0 rg BT 394.27 546.00 Td (Investments ) Tj ET Q q 0 0 0 rg BT 445.09 546.00 Td (as ) Tj ET Q q 0 0 0 rg BT 455.92 546.00 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.75 546.00 Td (December31, ) Tj ET Q q 0 0 0 rg BT 525.34 546.00 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.34 546.00 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 534.00 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 522.00 Td (\(B\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 522.00 Td (Represents ) Tj ET Q q 0 0 0 rg BT 133.11 522.00 Td (the ) Tj ET Q q 0 0 0 rg BT 148.56 522.00 Td (total ) Tj ET Q q 0 0 0 rg BT 169.56 522.00 Td (amount ) Tj ET Q q 0 0 0 rg BT 202.79 522.00 Td (of ) Tj ET Q q 0 0 0 rg BT 214.35 522.00 Td (interest ) Tj ET Q q 0 0 0 rg BT 247.01 522.00 Td (or ) Tj ET Q q 0 0 0 rg BT 258.58 522.00 Td (dividends ) Tj ET Q q 0 0 0 rg BT 300.69 522.00 Td (and ) Tj ET Q q 0 0 0 rg BT 318.36 522.00 Td (yield ) Tj ET Q q 0 0 0 rg BT 341.59 522.00 Td (enhancing ) Tj ET Q q 0 0 0 rg BT 385.92 522.00 Td (fees ) Tj ET Q q 0 0 0 rg BT 405.25 522.00 Td (on ) Tj ET Q q 0 0 0 rg BT 418.48 522.00 Td (debt ) Tj ET Q q 0 0 0 rg BT 438.93 522.00 Td (securities ) Tj ET Q q 0 0 0 rg BT 479.92 522.00 Td (credited/\(debited\) ) Tj ET Q q 0 0 0 rg BT 554.23 522.00 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 510.00 Td (income ) Tj ET Q q 0 0 0 rg BT 117.88 510.00 Td (for ) Tj ET Q q 0 0 0 rg BT 131.99 510.00 Td (the ) Tj ET Q q 0 0 0 rg BT 146.66 510.00 Td (portion ) Tj ET Q q 0 0 0 rg BT 178.00 510.00 Td (of ) Tj ET Q q 0 0 0 rg BT 188.78 510.00 Td (the ) Tj ET Q q 0 0 0 rg BT 203.45 510.00 Td (year ) Tj ET Q q 0 0 0 rg BT 223.10 510.00 Td (an ) Tj ET Q q 0 0 0 rg BT 234.99 510.00 Td (investment ) Tj ET Q q 0 0 0 rg BT 281.32 510.00 Td (was ) Tj ET Q q 0 0 0 rg BT 299.33 510.00 Td (a ) Tj ET Q q 0 0 0 rg BT 306.21 510.00 Td (control ) Tj ET Q q 0 0 0 rg BT 336.99 510.00 Td (or ) Tj ET Q q 0 0 0 rg BT 347.77 510.00 Td (af) Tj ET Q q 0 0 0 rg BT 355.36 510.00 Td (filiate ) Tj ET Q q 0 0 0 rg BT 381.13 510.00 Td (investment, ) Tj ET Q q 0 0 0 rg BT 429.96 510.00 Td (as ) Tj ET Q q 0 0 0 rg BT 440.74 510.00 Td (appropriate. ) Tj ET Q q 0 0 0 rg BT 490.68 510.00 Td (Amounts ) Tj ET Q q 0 0 0 rg BT 529.80 510.00 Td (credited ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 498.00 Td (to ) Tj ET Q q 0 0 0 rg BT 96.07 498.00 Td (preferred ) Tj ET Q q 0 0 0 rg BT 135.00 498.00 Td (or ) Tj ET Q q 0 0 0 rg BT 145.62 498.00 Td (common ) Tj ET Q q 0 0 0 rg BT 182.91 498.00 Td (stock ) Tj ET Q q 0 0 0 rg BT 206.31 498.00 Td (represent ) Tj ET Q q 0 0 0 rg BT 245.25 498.00 Td (accrued ) Tj ET Q q 0 0 0 rg BT 278.62 498.00 Td (bridge ) Tj ET Q q 0 0 0 rg BT 306.46 498.00 Td (note ) Tj ET Q q 0 0 0 rg BT 325.97 498.00 Td (interest ) Tj ET Q q 0 0 0 rg BT 357.70 498.00 Td (related ) Tj ET Q q 0 0 0 rg BT 387.19 498.00 Td (to ) Tj ET Q q 0 0 0 rg BT 397.26 498.00 Td (conversions ) Tj ET Q q 0 0 0 rg BT 447.33 498.00 Td (that ) Tj ET Q q 0 0 0 rg BT 464.61 498.00 Td (occurred ) Tj ET Q q 0 0 0 rg BT 501.88 498.00 Td (during ) Tj ET Q q 0 0 0 rg BT 530.28 498.00 Td (the ) Tj ET Q q 0 0 0 rg BT 544.79 498.00 Td (year ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 486.00 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 112.38 486.00 Td (December31, ) Tj ET Q q 0 0 0 rg BT 170.96 486.00 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.96 486.00 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 462.00 Td (\(C\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 462.00 Td (Gross ) Tj ET Q q 0 0 0 rg BT 113.24 462.00 Td (additions ) Tj ET Q q 0 0 0 rg BT 153.82 462.00 Td (include ) Tj ET Q q 0 0 0 rg BT 187.16 462.00 Td (increases ) Tj ET Q q 0 0 0 rg BT 227.71 462.00 Td (in ) Tj ET Q q 0 0 0 rg BT 239.40 462.00 Td (investments ) Tj ET Q q 0 0 0 rg BT 291.08 462.00 Td (resulting ) Tj ET Q q 0 0 0 rg BT 329.98 462.00 Td (from ) Tj ET Q q 0 0 0 rg BT 353.33 462.00 Td (new ) Tj ET Q q 0 0 0 rg BT 373.90 462.00 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 412.80 462.00 Td (investments, ) Tj ET Q q 0 0 0 rg BT 466.98 462.00 Td (paid-in-kind ) Tj ET Q q 0 0 0 rg BT 520.33 462.00 Td (interest ) Tj ET Q q 0 0 0 rg BT 553.67 462.00 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 450.00 Td (dividends, ) Tj ET Q q 0 0 0 rg BT 130.02 450.00 Td (the ) Tj ET Q q 0 0 0 rg BT 144.87 450.00 Td (amortization ) Tj ET Q q 0 0 0 rg BT 198.04 450.00 Td (of ) Tj ET Q q 0 0 0 rg BT 209.00 450.00 Td (discounts ) Tj ET Q q 0 0 0 rg BT 249.41 450.00 Td (and ) Tj ET Q q 0 0 0 rg BT 266.48 450.00 Td (fees. ) Tj ET Q q 0 0 0 rg BT 287.71 450.00 Td (Gross ) Tj ET Q q 0 0 0 rg BT 313.68 450.00 Td (additions ) Tj ET Q q 0 0 0 rg BT 352.97 450.00 Td (also ) Tj ET Q q 0 0 0 rg BT 371.71 450.00 Td (include ) Tj ET Q q 0 0 0 rg BT 403.78 450.00 Td (net ) Tj ET Q q 0 0 0 rg BT 418.63 450.00 Td (increases ) Tj ET Q q 0 0 0 rg BT 457.90 450.00 Td (in ) Tj ET Q q 0 0 0 rg BT 468.31 450.00 Td (unrealized ) Tj ET Q q 0 0 0 rg BT 512.59 450.00 Td (appreciation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 438.00 Td (or ) Tj ET Q q 0 0 0 rg BT 96.83 438.00 Td (decreases ) Tj ET Q q 0 0 0 rg BT 137.64 438.00 Td (in ) Tj ET Q q 0 0 0 rg BT 147.91 438.00 Td (unrealized ) Tj ET Q q 0 0 0 rg BT 192.05 438.00 Td (depreciation.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 426.00 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 414.00 Td (\(D\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 414.00 Td (Gross ) Tj ET Q q 0 0 0 rg BT 111.60 414.00 Td (reductions ) Tj ET Q q 0 0 0 rg BT 155.52 414.00 Td (include ) Tj ET Q q 0 0 0 rg BT 187.23 414.00 Td (decreases ) Tj ET Q q 0 0 0 rg BT 227.80 414.00 Td (in ) Tj ET Q q 0 0 0 rg BT 237.84 414.00 Td (investments ) Tj ET Q q 0 0 0 rg BT 287.88 414.00 Td (resulting ) Tj ET Q q 0 0 0 rg BT 325.15 414.00 Td (from ) Tj ET Q q 0 0 0 rg BT 346.85 414.00 Td (principal ) Tj ET Q q 0 0 0 rg BT 384.66 414.00 Td (collections ) Tj ET Q q 0 0 0 rg BT 430.25 414.00 Td (related ) Tj ET Q q 0 0 0 rg BT 459.72 414.00 Td (to ) Tj ET Q q 0 0 0 rg BT 469.76 414.00 Td (investment ) Tj ET Q q 0 0 0 rg BT 515.91 414.00 Td (repayments ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 402.00 Td (or ) Tj ET Q q 0 0 0 rg BT 97.14 402.00 Td (sales, ) Tj ET Q q 0 0 0 rg BT 121.90 402.00 Td (the ) Tj ET Q q 0 0 0 rg BT 136.93 402.00 Td (amortization ) Tj ET Q q 0 0 0 rg BT 190.28 402.00 Td (of ) Tj ET Q q 0 0 0 rg BT 201.42 402.00 Td (premiums ) Tj ET Q q 0 0 0 rg BT 244.23 402.00 Td (and ) Tj ET Q q 0 0 0 rg BT 261.48 402.00 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 308.18 402.00 Td (costs. ) Tj ET Q q 0 0 0 rg BT 333.49 402.00 Td (Gross ) Tj ET Q q 0 0 0 rg BT 359.64 402.00 Td (reductions ) Tj ET Q q 0 0 0 rg BT 404.11 402.00 Td (also ) Tj ET Q q 0 0 0 rg BT 423.03 402.00 Td (include ) Tj ET Q q 0 0 0 rg BT 455.28 402.00 Td (net ) Tj ET Q q 0 0 0 rg BT 470.31 402.00 Td (increases ) Tj ET Q q 0 0 0 rg BT 509.77 402.00 Td (in ) Tj ET Q q 0 0 0 rg BT 520.36 402.00 Td (unrealized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 390.00 Td (depreciation ) Tj ET Q q 0 0 0 rg BT 137.92 390.00 Td (or ) Tj ET Q q 0 0 0 rg BT 148.75 390.00 Td (decreases ) Tj ET Q q 0 0 0 rg BT 189.55 390.00 Td (in ) Tj ET Q q 0 0 0 rg BT 199.83 390.00 Td (unrealized ) Tj ET Q q 0 0 0 rg BT 243.97 390.00 Td (appreciation.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 366.00 Td (\(E\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 366.00 Td ("Controlled ) Tj ET Q q 0 0 0 rg BT 135.43 366.00 Td (Af) Tj ET Q q 0 0 0 rg BT 145.80 366.00 Td (filiated" ) Tj ET Q q 0 0 0 rg BT 181.50 366.00 Td (is ) Tj ET Q q 0 0 0 rg BT 191.47 366.00 Td (defined ) Tj ET Q q 0 0 0 rg BT 224.75 366.00 Td (as ) Tj ET Q q 0 0 0 rg BT 236.38 366.00 Td (control ) Tj ET Q q 0 0 0 rg BT 268.01 366.00 Td (of ) Tj ET Q q 0 0 0 rg BT 279.64 366.00 Td (50.1 ) Tj ET Q q 0 0 0 rg BT 300.44 366.00 Td (percent ) Tj ET Q q 0 0 0 rg BT 333.16 366.00 Td (or ) Tj ET Q q 0 0 0 rg BT 344.79 366.00 Td (more ) Tj ET Q q 0 0 0 rg BT 368.64 366.00 Td (of ) Tj ET Q q 0 0 0 rg BT 380.27 366.00 Td (the ) Tj ET Q q 0 0 0 rg BT 395.79 366.00 Td (voting ) Tj ET Q q 0 0 0 rg BT 424.64 366.00 Td (securities ) Tj ET Q q 0 0 0 rg BT 465.71 366.00 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 515.67 366.00 Td (and/or ) Tj ET Q q 0 0 0 rg BT 544.52 366.00 Td (50.1 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 354.00 Td (percent ) Tj ET Q q 0 0 0 rg BT 117.92 354.00 Td (or ) Tj ET Q q 0 0 0 rg BT 128.75 354.00 Td (more ) Tj ET Q q 0 0 0 rg BT 151.80 354.00 Td (control ) Tj ET Q q 0 0 0 rg BT 182.63 354.00 Td (of ) Tj ET Q q 0 0 0 rg BT 193.46 354.00 Td (the ) Tj ET Q q 0 0 0 rg BT 208.17 354.00 Td (appointment ) Tj ET Q q 0 0 0 rg BT 260.66 354.00 Td (of ) Tj ET Q q 0 0 0 rg BT 271.49 354.00 Td (members ) Tj ET Q q 0 0 0 rg BT 310.65 354.00 Td (of ) Tj ET Q q 0 0 0 rg BT 321.48 354.00 Td (the ) Tj ET Q q 0 0 0 rg BT 336.20 354.00 Td (board ) Tj ET Q q 0 0 0 rg BT 361.46 354.00 Td (of ) Tj ET Q q 0 0 0 rg BT 372.29 354.00 Td (directors.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 330.00 Td (\(F\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 330.00 Td ("Non-Controlled ) Tj ET Q q 0 0 0 rg BT 154.92 330.00 Td (Af) Tj ET Q q 0 0 0 rg BT 165.29 330.00 Td (filiated" ) Tj ET Q q 0 0 0 rg BT 199.64 330.00 Td (is ) Tj ET Q q 0 0 0 rg BT 208.25 330.00 Td (defined ) Tj ET Q q 0 0 0 rg BT 240.18 330.00 Td (as ) Tj ET Q q 0 0 0 rg BT 250.45 330.00 Td (ownership ) Tj ET Q q 0 0 0 rg BT 294.06 330.00 Td (of ) Tj ET Q q 0 0 0 rg BT 304.33 330.00 Td (five ) Tj ET Q q 0 0 0 rg BT 321.82 330.00 Td (percent ) Tj ET Q q 0 0 0 rg BT 353.19 330.00 Td (or ) Tj ET Q q 0 0 0 rg BT 363.46 330.00 Td (more, ) Tj ET Q q 0 0 0 rg BT 388.45 330.00 Td (but ) Tj ET Q q 0 0 0 rg BT 403.17 330.00 Td (less ) Tj ET Q q 0 0 0 rg BT 420.12 330.00 Td (than ) Tj ET Q q 0 0 0 rg BT 439.28 330.00 Td (25 ) Tj ET Q q 0 0 0 rg BT 451.22 330.00 Td (percent, ) Tj ET Q q 0 0 0 rg BT 485.09 330.00 Td (of ) Tj ET Q q 0 0 0 rg BT 495.36 330.00 Td (the ) Tj ET Q q 0 0 0 rg BT 509.52 330.00 Td (voting ) Tj ET Q q 0 0 0 rg BT 537.02 330.00 Td (shares ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 318.00 Td (of ) Tj ET Q q 0 0 0 rg BT 96.82 318.00 Td (the ) Tj ET Q q 0 0 0 rg BT 111.53 318.00 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 149.02 318.00 Td (company) Tj ET Q q 0 0 0 rg BT 185.02 318.00 Td (, ) Tj ET Q q 0 0 0 rg BT 190.01 318.00 Td (or ) Tj ET Q q 0 0 0 rg BT 200.84 318.00 Td (where ) Tj ET Q q 0 0 0 rg BT 227.76 318.00 Td (we ) Tj ET Q q 0 0 0 rg BT 241.91 318.00 Td (hold ) Tj ET Q q 0 0 0 rg BT 262.18 318.00 Td (the ) Tj ET Q q 0 0 0 rg BT 276.89 318.00 Td (right ) Tj ET Q q 0 0 0 rg BT 298.27 318.00 Td (to ) Tj ET Q q 0 0 0 rg BT 308.54 318.00 Td (appoint ) Tj ET Q q 0 0 0 rg BT 341.02 318.00 Td (one ) Tj ET Q q 0 0 0 rg BT 357.95 318.00 Td (or ) Tj ET Q q 0 0 0 rg BT 368.77 318.00 Td (more ) Tj ET Q q 0 0 0 rg BT 391.81 318.00 Td (members ) Tj ET Q q 0 0 0 rg BT 430.96 318.00 Td (to ) Tj ET Q q 0 0 0 rg BT 441.23 318.00 Td (the ) Tj ET Q q 0 0 0 rg BT 455.94 318.00 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 493.43 318.00 Td (company) Tj ET Q q 0 0 0 rg BT 532.86 318.00 Td (s ) Tj ET Q q 0 0 0 rg BT 539.24 318.00 Td (board ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 306.00 Td (of ) Tj ET Q q 0 0 0 rg BT 96.83 306.00 Td (directors, ) Tj ET Q q 0 0 0 rg BT 136.82 306.00 Td (but ) Tj ET Q q 0 0 0 rg BT 152.09 306.00 Td (less ) Tj ET Q q 0 0 0 rg BT 169.59 306.00 Td (than ) Tj ET Q q 0 0 0 rg BT 189.31 306.00 Td (25 ) Tj ET Q q 0 0 0 rg BT 201.81 306.00 Td (percent ) Tj ET Q q 0 0 0 rg BT 233.73 306.00 Td (of ) Tj ET Q q 0 0 0 rg BT 244.56 306.00 Td (the ) Tj ET Q q 0 0 0 rg BT 259.28 306.00 Td (members ) Tj ET Q q 0 0 0 rg BT 298.44 306.00 Td (of ) Tj ET Q q 0 0 0 rg BT 309.27 306.00 Td (the ) Tj ET Q q 0 0 0 rg BT 323.98 306.00 Td (board ) Tj ET Q q 0 0 0 rg BT 349.25 306.00 Td (of ) Tj ET Q q 0 0 0 rg BT 360.08 306.00 Td (directors.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 282.00 Td (\(G\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 282.00 Td (Debt ) Tj ET Q q 0 0 0 rg BT 108.12 282.00 Td (security ) Tj ET Q q 0 0 0 rg BT 142.45 282.00 Td (is ) Tj ET Q q 0 0 0 rg BT 151.80 282.00 Td (on ) Tj ET Q q 0 0 0 rg BT 164.48 282.00 Td (non-accrual ) Tj ET Q q 0 0 0 rg BT 214.35 282.00 Td (status ) Tj ET Q q 0 0 0 rg BT 239.81 282.00 Td (as ) Tj ET Q q 0 0 0 rg BT 250.82 282.00 Td (of ) Tj ET Q q 0 0 0 rg BT 261.24 282.00 Td (April ) Tj ET Q q 0 0 0 rg BT 285.03 282.00 Td (1, ) Tj ET Q q 0 0 0 rg BT 295.21 282.00 Td (2018 ) Tj ET Q q 0 0 0 rg BT 317.89 282.00 Td (and, ) Tj ET Q q 0 0 0 rg BT 337.51 282.00 Td (therefore, ) Tj ET Q q 0 0 0 rg BT 378.77 282.00 Td (is ) Tj ET Q q 0 0 0 rg BT 388.12 282.00 Td (considered ) Tj ET Q q 0 0 0 rg BT 434.11 282.00 Td (non-income ) Tj ET Q q 0 0 0 rg BT 484.56 282.00 Td (producing ) Tj ET Q q 0 0 0 rg BT 527.78 282.00 Td (as ) Tj ET Q q 0 0 0 rg BT 538.79 282.00 Td (of ) Tj ET Q q 0 0 0 rg BT 549.80 282.00 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 270.00 Td (year ) Tj ET Q q 0 0 0 rg BT 105.71 270.00 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 132.08 270.00 Td (December31, ) Tj ET Q q 0 0 0 rg BT 190.67 270.00 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 210.67 270.00 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 246.00 Td (\(H\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 246.00 Td (Debt ) Tj ET Q q 0 0 0 rg BT 108.32 246.00 Td (security ) Tj ET Q q 0 0 0 rg BT 142.86 246.00 Td (is ) Tj ET Q q 0 0 0 rg BT 152.41 246.00 Td (on ) Tj ET Q q 0 0 0 rg BT 165.29 246.00 Td (non-accrual ) Tj ET Q q 0 0 0 rg BT 215.36 246.00 Td (status ) Tj ET Q q 0 0 0 rg BT 241.02 246.00 Td (as ) Tj ET Q q 0 0 0 rg BT 252.23 246.00 Td (of ) Tj ET Q q 0 0 0 rg BT 263.44 246.00 Td (July ) Tj ET Q q 0 0 0 rg BT 282.99 246.00 Td (1, ) Tj ET Q q 0 0 0 rg BT 293.37 246.00 Td (2018 ) Tj ET Q q 0 0 0 rg BT 316.25 246.00 Td (and, ) Tj ET Q q 0 0 0 rg BT 336.07 246.00 Td (therefore, ) Tj ET Q q 0 0 0 rg BT 377.54 246.00 Td (is ) Tj ET Q q 0 0 0 rg BT 387.09 246.00 Td (considered ) Tj ET Q q 0 0 0 rg BT 433.29 246.00 Td (non-income ) Tj ET Q q 0 0 0 rg BT 483.93 246.00 Td (producing ) Tj ET Q q 0 0 0 rg BT 527.36 246.00 Td (as ) Tj ET Q q 0 0 0 rg BT 538.57 246.00 Td (of ) Tj ET Q q 0 0 0 rg BT 549.78 246.00 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 234.00 Td (year ) Tj ET Q q 0 0 0 rg BT 105.71 234.00 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 132.08 234.00 Td (December31, ) Tj ET Q q 0 0 0 rg BT 190.67 234.00 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 210.67 234.00 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 210.00 Td (\(I\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 210.00 Td (Realized ) Tj ET Q q 0 0 0 rg BT 123.19 210.00 Td (Gain ) Tj ET Q q 0 0 0 rg BT 144.85 210.00 Td (\(Loss\) ) Tj ET Q q 0 0 0 rg BT 172.61 210.00 Td (on ) Tj ET Q q 0 0 0 rg BT 184.82 210.00 Td (Non-Controlled ) Tj ET Q q 0 0 0 rg BT 249.87 210.00 Td (Af) Tj ET Q q 0 0 0 rg BT 260.25 210.00 Td (filiated ) Tj ET Q q 0 0 0 rg BT 290.78 210.00 Td (Privately ) Tj ET Q q 0 0 0 rg BT 329.10 210.00 Td (Held ) Tj ET Q q 0 0 0 rg BT 350.75 210.00 Td (Companies ) Tj ET Q q 0 0 0 rg BT 397.96 210.00 Td (excludes ) Tj ET Q q 0 0 0 rg BT 435.15 210.00 Td (a ) Tj ET Q q 0 0 0 rg BT 441.81 210.00 Td (realized ) Tj ET Q q 0 0 0 rg BT 475.66 210.00 Td (gain ) Tj ET Q q 0 0 0 rg BT 495.09 210.00 Td (of ) Tj ET Q q 0 0 0 rg BT 505.63 210.00 Td ($18,507 ) Tj ET Q q 0 0 0 rg BT 540.35 210.00 Td (on ) Tj ET Q q 0 0 0 rg BT 552.56 210.00 Td (an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 198.00 Td (investment ) Tj ET Q q 0 0 0 rg BT 132.38 198.00 Td (that ) Tj ET Q q 0 0 0 rg BT 149.88 198.00 Td (was ) Tj ET Q q 0 0 0 rg BT 167.93 198.00 Td (realized ) Tj ET Q q 0 0 0 rg BT 202.07 198.00 Td (in ) Tj ET Q q 0 0 0 rg BT 212.35 198.00 Td (2017. ) Tj ET Q q 0 0 0 rg BT 237.35 198.00 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 55.00 162.00 Td (**Information ) Tj ET Q q 0 0 0 rg BT 118.55 162.00 Td (related ) Tj ET Q q 0 0 0 rg BT 149.05 162.00 Td (to ) Tj ET Q q 0 0 0 rg BT 160.12 162.00 Td (the ) Tj ET Q q 0 0 0 rg BT 175.63 162.00 Td (amount ) Tj ET Q q 0 0 0 rg BT 208.91 162.00 Td (of ) Tj ET Q q 0 0 0 rg BT 220.53 162.00 Td (equity ) Tj ET Q q 0 0 0 rg BT 248.82 162.00 Td (in ) Tj ET Q q 0 0 0 rg BT 259.89 162.00 Td (the ) Tj ET Q q 0 0 0 rg BT 275.40 162.00 Td (net ) Tj ET Q q 0 0 0 rg BT 290.90 162.00 Td (profit ) Tj ET Q q 0 0 0 rg BT 316.41 162.00 Td (and ) Tj ET Q q 0 0 0 rg BT 334.14 162.00 Td (loss ) Tj ET Q q 0 0 0 rg BT 352.99 162.00 Td (for ) Tj ET Q q 0 0 0 rg BT 367.94 162.00 Td (the ) Tj ET Q q 0 0 0 rg BT 383.45 162.00 Td (year ) Tj ET Q q 0 0 0 rg BT 403.95 162.00 Td (for ) Tj ET Q q 0 0 0 rg BT 418.90 162.00 Td (the ) Tj ET Q q 0 0 0 rg BT 434.41 162.00 Td (investments ) Tj ET Q q 0 0 0 rg BT 485.47 162.00 Td (listed ) Tj ET Q q 0 0 0 rg BT 510.43 162.00 Td (has ) Tj ET Q q 0 0 0 rg BT 527.05 162.00 Td (not ) Tj ET Q q 0 0 0 rg BT 543.12 162.00 Td (been ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 150.00 Td (included ) Tj ET Q q 0 0 0 rg BT 87.70 150.00 Td (in ) Tj ET Q q 0 0 0 rg BT 98.75 150.00 Td (this ) Tj ET Q q 0 0 0 rg BT 116.46 150.00 Td (schedule. ) Tj ET Q q 0 0 0 rg BT 156.98 150.00 Td (This ) Tj ET Q q 0 0 0 rg BT 178.03 150.00 Td (information ) Tj ET Q q 0 0 0 rg BT 228.51 150.00 Td (is ) Tj ET Q q 0 0 0 rg BT 238.45 150.00 Td (not ) Tj ET Q q 0 0 0 rg BT 254.49 150.00 Td (considered ) Tj ET Q q 0 0 0 rg BT 301.08 150.00 Td (to ) Tj ET Q q 0 0 0 rg BT 312.12 150.00 Td (be ) Tj ET Q q 0 0 0 rg BT 324.83 150.00 Td (meaningful ) Tj ET Q q 0 0 0 rg BT 373.64 150.00 Td (owing ) Tj ET Q q 0 0 0 rg BT 401.91 150.00 Td (to ) Tj ET Q q 0 0 0 rg BT 412.95 150.00 Td (the ) Tj ET Q q 0 0 0 rg BT 428.44 150.00 Td (complex ) Tj ET Q q 0 0 0 rg BT 466.14 150.00 Td (capital ) Tj ET Q q 0 0 0 rg BT 496.06 150.00 Td (structures ) Tj ET Q q 0 0 0 rg BT 538.20 150.00 Td (of ) Tj ET Q q 0 0 0 rg BT 549.80 150.00 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 138.00 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 89.20 138.00 Td (companies, ) Tj ET Q q 0 0 0 rg BT 138.68 138.00 Td (with ) Tj ET Q q 0 0 0 rg BT 160.66 138.00 Td (dif) Tj ET Q q 0 0 0 rg BT 171.59 138.00 Td (ferent ) Tj ET Q q 0 0 0 rg BT 199.11 138.00 Td (classes ) Tj ET Q q 0 0 0 rg BT 231.09 138.00 Td (of ) Tj ET Q q 0 0 0 rg BT 243.63 138.00 Td (equity ) Tj ET Q q 0 0 0 rg BT 272.83 138.00 Td (securities ) Tj ET Q q 0 0 0 rg BT 314.81 138.00 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 365.68 138.00 Td (with ) Tj ET Q q 0 0 0 rg BT 387.67 138.00 Td (dif) Tj ET Q q 0 0 0 rg BT 398.59 138.00 Td (ferent ) Tj ET Q q 0 0 0 rg BT 426.12 138.00 Td (preferences ) Tj ET Q q 0 0 0 rg BT 476.40 138.00 Td (in ) Tj ET Q q 0 0 0 rg BT 488.39 138.00 Td (liquidation. ) Tj ET Q q 0 0 0 rg BT 538.12 138.00 Td (These ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 126.00 Td (investments ) Tj ET Q q 0 0 0 rg BT 101.63 126.00 Td (are ) Tj ET Q q 0 0 0 rg BT 117.69 126.00 Td (not ) Tj ET Q q 0 0 0 rg BT 134.32 126.00 Td (consolidated, ) Tj ET Q q 0 0 0 rg BT 191.22 126.00 Td (nor ) Tj ET Q q 0 0 0 rg BT 208.40 126.00 Td (are ) Tj ET Q q 0 0 0 rg BT 224.46 126.00 Td (they ) Tj ET Q q 0 0 0 rg BT 245.54 126.00 Td (accounted ) Tj ET Q q 0 0 0 rg BT 289.92 126.00 Td (for ) Tj ET Q q 0 0 0 rg BT 305.44 126.00 Td (under ) Tj ET Q q 0 0 0 rg BT 332.06 126.00 Td (the ) Tj ET Q q 0 0 0 rg BT 348.13 126.00 Td (equity ) Tj ET Q q 0 0 0 rg BT 376.98 126.00 Td (method ) Tj ET Q q 0 0 0 rg BT 410.83 126.00 Td (of ) Tj ET Q q 0 0 0 rg BT 423.02 126.00 Td (accounting, ) Tj ET Q q 0 0 0 rg BT 473.24 126.00 Td (with ) Tj ET Q q 0 0 0 rg BT 494.88 126.00 Td (the ) Tj ET Q q 0 0 0 rg BT 510.95 126.00 Td (exception ) Tj ET Q q 0 0 0 rg BT 553.67 126.00 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 114.00 Td (Accelerator ) Tj ET Q q 0 0 0 rg BT 99.13 114.00 Td (IV) Tj ET Q q 0 0 0 rg BT 108.76 114.00 Td (-New ) Tj ET Q q 0 0 0 rg BT 133.11 114.00 Td (Y) Tj ET Q q 0 0 0 rg BT 139.33 114.00 Td (ork ) Tj ET Q q 0 0 0 rg BT 155.16 114.00 Td (Corporation, ) Tj ET Q q 0 0 0 rg BT 208.48 114.00 Td (which ) Tj ET Q q 0 0 0 rg BT 235.42 114.00 Td (are ) Tj ET Q q 0 0 0 rg BT 250.13 114.00 Td (accounted ) Tj ET Q q 0 0 0 rg BT 293.16 114.00 Td (for ) Tj ET Q q 0 0 0 rg BT 307.32 114.00 Td (under ) Tj ET Q q 0 0 0 rg BT 332.59 114.00 Td (the ) Tj ET Q q 0 0 0 rg BT 347.30 114.00 Td (equity ) Tj ET Q q 0 0 0 rg BT 374.80 114.00 Td (method.) Tj ET Q endstream endobj 95 0 obj <> endobj 96 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (47) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 719.50 139.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 188.50 719.50 69.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 257.50 719.50 8.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 719.50 68.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 333.50 719.50 8.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 341.50 719.50 69.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.50 719.50 5.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.50 719.50 69.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.50 719.50 7.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 719.50 70.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 698.50 139.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 188.50 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(Investment) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 509.45 723.73 Td (V) Tj ET Q q 0 0 0 rg BT 514.49 723.73 Td (aluation) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 710.73 Td (CONTROLLED ) Tj ET Q q 0 0 0 rg BT 110.68 710.73 Td (AFFILIA) Tj ET Q q 0 0 0 rg BT 143.05 710.73 Td (TED) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 702.73 Td (COMP) Tj ET Q q 0 0 0 rg BT 76.14 702.73 Td (ANIES) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 689.73 Td (PRIV) Tj ET Q q 0 0 0 rg BT 71.04 689.73 Td (A) Tj ET Q q 0 0 0 rg BT 76.00 689.73 Td (TEL) Tj ET Q q 0 0 0 rg BT 91.35 689.73 Td (Y) Tj ET Q q 0 0 0 rg BT 96.61 689.73 Td ( HELD COMP) Tj ET Q q 0 0 0 rg BT 147.27 689.73 Td (ANIES) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 676.75 Td (Black Silicon Holdings, Inc.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 273.20 676.75 Td (Semiconductors) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 663.75 Td (Series ) Tj ET Q q 0 0 0 rg BT 79.33 663.75 Td (A) Tj ET Q q 0 0 0 rg BT 84.67 663.75 Td ( Convertible Preferred Stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 655.75 Td (\(acquired 8/4/15\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 208.15 655.75 Td (\(M\) \(L3\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 381.30 655.75 Td (233,499) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.00 655.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 455.30 655.75 Td (750,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.00 655.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 554.30 655.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 642.75 Td (Series ) Tj ET Q q 0 0 0 rg BT 79.33 642.75 Td (A-1 Convertible Preferred Stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 634.75 Td (\(acquired 8/4/15\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 208.15 634.75 Td (\(M\) \(L3\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.30 634.75 Td (2,966,667) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 455.30 634.75 Td (890,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 554.30 634.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 621.75 Td (Series ) Tj ET Q q 0 0 0 rg BT 79.33 621.75 Td (A-2 Convertible Preferred Stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 613.75 Td (\(acquired 8/4/15\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 208.15 613.75 Td (\(M\) \(L3\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.30 613.75 Td (4,207,537) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 449.30 613.75 Td (2,445,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 554.30 613.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 600.75 Td (Series B-1 Convertible Preferred Stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 592.75 Td (\(acquired 8/4/15\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 208.15 592.75 Td (\(M\) \(L3\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.30 592.75 Td (1,892,836) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 449.30 592.75 Td (1,169,561) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 554.30 592.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 579.75 Td (Series C Convertible Preferred Stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 571.75 Td (\(acquired 8/4/15\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 208.15 571.75 Td (\(M\) \(L3\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.30 571.75 Td (1,674,030) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 449.30 571.75 Td (1,171,316) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 554.30 571.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 558.75 Td (Secured Convertible Bridge Note, 8%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 550.75 Td (PIK, \(acquired 8/25/16, maturing) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 542.75 Td (8/4/21\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 208.15 542.75 Td (\(M\) \(L3\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 344.00 542.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.30 542.75 Td (1,278,453) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 449.30 542.75 Td (1,444,368) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.30 542.75 Td (476,187) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 529.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 449.30 529.75 Td (7,870,245) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.30 529.75 Td (476,187) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 52.00 514.30 74.65 -7.27 re f /GS0 gs q 0 0 0 rg BT 52.00 508.75 Td (HALE.life Corporation) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 279.75 522.30 38.43 -7.27 re f /GS0 gs q 0 0 0 rg BT 279.75 516.75 Td (Health Care) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 280.15 514.30 37.65 -7.27 re f /GS0 gs q 0 0 0 rg BT 280.15 508.75 Td (T) Tj ET Q q 0 0 0 rg BT 284.48 508.75 Td (echnology) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 58.00 501.30 107.32 -7.27 re f /GS0 gs q 0 0 0 rg BT 58.00 495.75 Td (Common Stock \(acquired 3/1/16\)) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 210.35 501.30 24.21 -7.27 re f /GS0 gs q 0 0 0 rg BT 210.35 495.75 Td (\(I\) \(L3\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.30 495.75 Td (1,000,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.00 495.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 473.30 495.75 Td (10) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.00 495.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.30 495.75 Td (146,462) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 58.00 488.30 115.29 -7.27 re f /GS0 gs q 0 0 0 rg BT 58.00 482.75 Td (Series Seed-1 Convertible Preferred) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 58.00 480.30 79.54 -7.27 re f /GS0 gs q 0 0 0 rg BT 58.00 474.75 Td (Stock \(acquired 3/28/17\)) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 210.35 480.30 24.21 -7.27 re f /GS0 gs q 0 0 0 rg BT 210.35 474.75 Td (\(I\) \(L3\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 371.30 474.75 Td (1) Tj ET Q q 0 0 0 rg BT 375.30 474.75 Td (1,000,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 449.30 474.75 Td (1,896,920) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 526.30 474.75 Td (2,147,894) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 58.00 467.30 115.29 -7.27 re f /GS0 gs q 0 0 0 rg BT 58.00 461.75 Td (Series Seed-2 Convertible Preferred) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 58.00 459.30 83.54 -7.27 re f /GS0 gs q 0 0 0 rg BT 58.00 453.75 Td (Stock \(acquired 12/28/18\)) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 210.35 459.30 24.21 -7.27 re f /GS0 gs q 0 0 0 rg BT 210.35 453.75 Td (\(I\) \(L3\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 371.30 453.75 Td (12,083,132) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 449.30 453.75 Td (2,500,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 526.30 453.75 Td (2,500,871) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 440.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.00 440.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 449.30 440.75 Td (4,396,930) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.00 440.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 526.30 440.75 Td (4,795,227) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 427.73 Td (T) Tj ET Q q 0 0 0 rg BT 56.97 427.73 Td (otal Contr) Tj ET Q q 0 0 0 rg BT 91.86 427.73 Td (olled ) Tj ET Q q 0 0 0 rg BT 110.01 427.73 Td (Affiliated Privately) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 419.73 Td (Held Companies \(6.4%\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 418.00 419.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 445.30 419.73 Td (12,267,175) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 494.00 419.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 526.30 419.73 Td (5,271,414) Tj ET Q BT /F2 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 52.00 399.15 127.64 -7.14 re f /GS0 gs q 0 0 0 rg BT 52.00 393.73 Td (NON-CONTROLLED ) Tj ET Q q 0 0 0 rg BT 130.90 393.73 Td (AFFILIA) Tj ET Q q 0 0 0 rg BT 163.20 393.73 Td (TED) Tj ET Q BT /F2 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 52.00 391.15 48.30 -7.14 re f /GS0 gs q 0 0 0 rg BT 52.00 385.73 Td (COMP) Tj ET Q q 0 0 0 rg BT 75.84 385.73 Td (ANIES) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 372.73 Td (PRIV) Tj ET Q q 0 0 0 rg BT 70.52 372.73 Td (A) Tj ET Q q 0 0 0 rg BT 75.71 372.73 Td (TEL) Tj ET Q q 0 0 0 rg BT 90.98 372.73 Td (Y) Tj ET Q q 0 0 0 rg BT 96.46 372.73 Td ( HELD COMP) Tj ET Q q 0 0 0 rg BT 146.98 372.73 Td (ANIES) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 351.75 Td (ABSMaterials, Inc.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 284.10 359.75 Td (Specialty) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 282.10 351.75 Td (Chemicals) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 338.75 Td (Series ) Tj ET Q q 0 0 0 rg BT 79.33 338.75 Td (A) Tj ET Q q 0 0 0 rg BT 84.67 338.75 Td ( Convertible Preferred Stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 330.75 Td (\(acquired 2/17/10-10/24/1) Tj ET Q q 0 0 0 rg BT 141.61 330.75 Td (1\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 210.35 330.75 Td (\(I\) \(L3\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 381.30 330.75 Td (390,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.00 330.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 455.30 330.75 Td (435,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.00 330.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.30 330.75 Td (15,864) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 317.75 Td (Series B Convertible Preferred Stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 309.75 Td (\(acquired 1) Tj ET Q q 0 0 0 rg BT 94.05 309.75 Td (1/8/13-6/25/14\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 210.35 309.75 Td (\(I\) \(L3\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.30 309.75 Td (1,037,751) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 449.30 309.75 Td (1,217,644) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.30 309.75 Td (286,562) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 296.75 Td (Secured Convertible Bridge Note, 8%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 288.75 Td (PIK, \(acquired 1/20/16, maturing) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 280.75 Td (12/31/19\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 208.15 280.75 Td (\(M\) \(L3\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 344.00 280.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 381.30 280.75 Td (100,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 455.30 280.75 Td (123,605) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.30 280.75 Td (123,605) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 267.75 Td (Secured Convertible Bridge Note, 8%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 259.75 Td (PIK, \(acquired 3/28/17, maturing) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 251.75 Td (12/31/19\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 208.15 251.75 Td (\(M\) \(L3\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 344.00 251.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.30 251.75 Td (25,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 459.30 251.75 Td (28,529) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.30 251.75 Td (28,529) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 238.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.00 238.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 449.30 238.75 Td (1,804,778) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.00 238.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.30 238.75 Td (454,560) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 52.00 215.30 50.22 -7.27 re f /GS0 gs q 0 0 0 rg BT 52.00 209.75 Td (AgBiome, LLC) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 278.65 231.30 40.66 -7.27 re f /GS0 gs q 0 0 0 rg BT 278.65 225.75 Td (Fertilizers &) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 279.45 223.30 39.10 -7.27 re f /GS0 gs q 0 0 0 rg BT 279.45 217.75 Td (Agricultural) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 282.10 215.30 33.77 -7.27 re f /GS0 gs q 0 0 0 rg BT 282.10 209.75 Td (Chemicals) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 58.00 202.30 124.41 -7.27 re f /GS0 gs q 0 0 0 rg BT 58.00 196.75 Td (Series ) Tj ET Q q 0 0 0 rg BT 79.11 196.75 Td (A-1 Convertible Preferred Units) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 58.00 194.30 59.31 -7.27 re f /GS0 gs q 0 0 0 rg BT 58.00 188.75 Td (\(acquired 1/30/13\)) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 210.35 194.30 24.21 -7.27 re f /GS0 gs q 0 0 0 rg BT 210.35 188.75 Td (\(I\) \(L3\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.30 188.75 Td (2,000,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.00 188.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 449.30 188.75 Td (2,000,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.00 188.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 522.30 188.75 Td (10,442,684) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 58.00 181.30 124.41 -7.27 re f /GS0 gs q 0 0 0 rg BT 58.00 175.75 Td (Series ) Tj ET Q q 0 0 0 rg BT 79.11 175.75 Td (A-2 Convertible Preferred Units) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 58.00 173.30 86.42 -7.27 re f /GS0 gs q 0 0 0 rg BT 58.00 167.75 Td (\(acquired 4/9/13-10/15/13\)) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 210.35 173.30 24.21 -7.27 re f /GS0 gs q 0 0 0 rg BT 210.35 167.75 Td (\(I\) \(L3\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 381.30 167.75 Td (417,392) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 455.30 167.75 Td (521,740) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 526.30 167.75 Td (2,214,058) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 58.00 160.30 117.75 -7.27 re f /GS0 gs q 0 0 0 rg BT 58.00 154.75 Td (Series B Convertible Preferred Units) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 58.00 152.30 55.31 -7.27 re f /GS0 gs q 0 0 0 rg BT 58.00 146.75 Td (\(acquired 8/7/15\)) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 210.35 152.30 24.21 -7.27 re f /GS0 gs q 0 0 0 rg BT 210.35 146.75 Td (\(I\) \(L3\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 381.30 146.75 Td (160,526) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 455.30 146.75 Td (500,006) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.30 146.75 Td (951,079) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 133.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.00 133.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 449.30 133.75 Td (3,021,746) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.00 133.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 522.30 133.75 Td (13,607,821) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 120.75 Td (Coba ) Tj ET Q q 0 0 0 rg BT 70.74 120.75 Td (Therapeutics Corporation) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 272.75 120.75 Td (Pharmaceuticals) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 107.75 Td (Unsecured Convertible Bridge Note,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 99.75 Td (6% PIK, \(acquired 2/27/18, maturing) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 91.75 Td (2/27/19\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 210.35 91.75 Td (\(I\) \(L3\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 344.00 91.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 381.30 91.75 Td (145,530) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.00 91.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 455.30 91.75 Td (151,606) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.00 91.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.30 91.75 Td (21,776) Tj ET Q endstream endobj 97 0 obj <> endobj 98 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (48) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 719.50 139.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 188.50 719.50 69.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 257.50 719.50 8.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 719.50 68.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 333.50 719.50 8.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 341.50 719.50 69.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.50 719.50 5.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.50 719.50 69.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 484.50 719.50 7.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.50 719.50 70.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 698.50 139.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 188.50 698.50 69.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 257.50 698.50 8.00 -13.00 re f 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q 0 0 0 rg BT 387.69 739.73 Td (es) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 356.45 731.73 Td (Pur) Tj ET Q q 0 0 0 rg BT 369.26 731.73 Td (chased/) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 359.70 723.73 Td (Principal) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 422.45 731.73 Td (Cost of ) Tj ET Q q 0 0 0 rg BT 448.60 731.73 Td (TURN's) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 430.35 723.73 Td (Investment) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 509.45 723.73 Td (V) Tj ET Q q 0 0 0 rg BT 514.49 723.73 Td (aluation) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 710.73 Td (NON-CONTROLLED ) Tj ET Q q 0 0 0 rg BT 131.12 710.73 Td (AFFILIA) Tj ET Q q 0 0 0 rg BT 163.49 710.73 Td (TED) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 702.73 Td (COMP) Tj ET Q q 0 0 0 rg BT 76.14 702.73 Td (ANIES) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 689.73 Td (PRIV) Tj ET Q q 0 0 0 rg BT 70.52 689.73 Td (A) Tj ET Q q 0 0 0 rg BT 75.71 689.73 Td (TEL) Tj ET Q q 0 0 0 rg BT 90.98 689.73 Td (Y) Tj ET Q q 0 0 0 rg BT 96.46 689.73 Td ( HELD COMP) Tj ET Q q 0 0 0 rg BT 146.98 689.73 Td (ANIES) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 668.75 Td (EchoPixel, Inc.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 279.75 676.75 Td (Health Care) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 281.40 668.75 Td (Equipment) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 655.75 Td (Series Seed Convertible Preferred) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 647.75 Td (Stock \(acquired 6/21/13-6/30/14\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 210.35 647.75 Td (\(I\) \(L3\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.30 647.75 Td (4,194,630) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.00 647.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 449.30 647.75 Td (1,250,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.00 647.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 526.30 647.75 Td (1,201,023) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 634.75 Td (Series Seed-2 Convertible Preferred) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 626.75 Td (Stock \(acquired 1/22/16\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 210.35 626.75 Td (\(I\) \(L3\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.30 626.75 Td (1,476,668) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 455.30 626.75 Td (500,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.30 626.75 Td (429,732) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 613.75 Td (Series ) Tj ET Q q 0 0 0 rg BT 79.33 613.75 Td (A-2 Convertible Preferred Stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 605.75 Td (\(acquired 3/23/17\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 210.35 605.75 Td (\(I\) \(L3\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.30 605.75 Td (1,471,577) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 455.30 605.75 Td (350,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.30 605.75 Td (499,616) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 592.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.00 592.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 449.30 592.75 Td (2,100,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.00 592.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 526.30 592.75 Td (2,130,371) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 571.75 Td (Essential Health Solutions, Inc.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 279.75 579.75 Td (Health Care) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 280.15 571.75 Td (T) Tj ET Q q 0 0 0 rg BT 284.76 571.75 Td (echnology) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 558.75 Td (Common Stock \(acquired 1) Tj ET Q q 0 0 0 rg BT 146.06 558.75 Td (1/18/16\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 210.35 558.75 Td (\(I\) \(L3\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 381.30 558.75 Td (200,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.00 558.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 473.30 558.75 Td (20) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.00 558.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.30 558.75 Td (128,339) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 545.75 Td (Series ) Tj ET Q q 0 0 0 rg BT 79.33 545.75 Td (A) Tj ET Q q 0 0 0 rg BT 84.67 545.75 Td ( Convertible Preferred Stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 537.75 Td (\(acquired 1) Tj ET Q q 0 0 0 rg BT 94.05 537.75 Td (1/18/16\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 210.35 537.75 Td (\(I\) \(L3\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.30 537.75 Td (2,750,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 449.30 537.75 Td (2,750,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 526.30 537.75 Td (2,781,300) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 524.75 Td (Unsecured Convertible Bridge Note,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 516.75 Td (8% PIK, \(acquired 12/19/18, maturing) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 508.75 Td (12/19/19\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 208.15 508.75 Td (\(M\) \(L3\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 344.00 508.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.30 508.75 Td (50,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 459.30 508.75 Td (50,142) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.30 508.75 Td (50,142) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 495.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.00 495.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 449.30 495.75 Td (2,800,162) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.00 495.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 526.30 495.75 Td (2,959,781) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 482.75 Td (Lodo ) Tj ET Q q 0 0 0 rg BT 70.81 482.75 Td (Therapeutics Corporation) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 272.75 482.75 Td (Pharmaceuticals) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 469.75 Td (Series ) Tj ET Q q 0 0 0 rg BT 79.33 469.75 Td (A) Tj ET Q q 0 0 0 rg BT 84.67 469.75 Td ( Convertible Preferred Stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 461.75 Td (\(acquired 12/21/15-4/22/16\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 210.35 461.75 Td (\(I\) \(L3\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 381.30 461.75 Td (658,190) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.00 461.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 455.30 461.75 Td (658,190) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.00 461.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.30 461.75 Td (779,467) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 52.00 438.30 47.11 -7.27 re f /GS0 gs q 0 0 0 rg BT 52.00 432.75 Td (NGX Bio, Inc.) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 280.20 454.30 37.54 -7.27 re f /GS0 gs q 0 0 0 rg BT 280.20 448.75 Td (Research &) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 281.40 446.30 35.12 -7.27 re f /GS0 gs q 0 0 0 rg BT 281.40 440.75 Td (Consulting) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 285.40 438.30 27.10 -7.27 re f /GS0 gs q 0 0 0 rg BT 285.40 432.75 Td (Services) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 419.75 Td (Series Seed Convertible Preferred) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 411.75 Td (Stock \(acquired 6/6/14-1/10/16\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 210.35 411.75 Td (\(I\) \(L3\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 381.30 411.75 Td (666,667) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.00 411.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 455.30 411.75 Td (500,002) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.00 411.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.30 411.75 Td (17,273) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 398.75 Td (Series Seed 2 Convertible Preferred) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 390.75 Td (Stock \(acquired 8/20/15-9/30/15\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 210.35 390.75 Td (\(I\) \(L3\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 381.30 390.75 Td (329,989) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 455.30 390.75 Td (499,999) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 390.75 Td (8,550) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 377.75 Td (Series Seed 3 Convertible Preferred) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 369.75 Td (Stock \(acquired 6/26/17\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 210.35 369.75 Td (\(I\) \(L3\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 381.30 369.75 Td (666,001) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 455.30 369.75 Td (686,329) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.30 369.75 Td (17,256) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 356.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.00 356.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 449.30 356.75 Td (1,686,330) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.00 356.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.30 356.75 Td (43,079) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 335.75 Td (ORIG3N, Inc.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 279.75 343.75 Td (Health Care) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 280.15 335.75 Td (T) Tj ET Q q 0 0 0 rg BT 284.76 335.75 Td (echnology) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 322.75 Td (Series 1 Convertible Preferred Stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 314.75 Td (\(acquired 2/5/15-8/5/15\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 208.80 314.75 Td (\(H\) \(L3\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.30 314.75 Td (1,195,315) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.00 314.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 455.30 314.75 Td (500,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.00 314.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 526.30 314.75 Td (1,232,502) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 301.75 Td (Series ) Tj ET Q q 0 0 0 rg BT 79.33 301.75 Td (A) Tj ET Q q 0 0 0 rg BT 84.67 301.75 Td ( Convertible Preferred Stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 293.75 Td (\(acquired 1) Tj ET Q q 0 0 0 rg BT 94.05 293.75 Td (1/25/15-9/7/16\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 208.80 293.75 Td (\(H\) \(L3\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.30 293.75 Td (1,364,666) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 449.30 293.75 Td (1,500,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 526.30 293.75 Td (1,431,936) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 280.75 Td (Series ) Tj ET Q q 0 0 0 rg BT 79.33 280.75 Td (A-2 Convertible Preferred Stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 272.75 Td (\(acquired 5/1) Tj ET Q q 0 0 0 rg BT 100.28 272.75 Td (1/17-2/8/18\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 208.80 272.75 Td (\(H\) \(L3\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 381.30 272.75 Td (176,386) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 455.30 272.75 Td (200,002) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.30 272.75 Td (189,592) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 251.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.00 251.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 449.30 251.75 Td (2,200,002) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.00 251.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 526.30 251.75 Td (2,854,030) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 222.75 Td (Produced ) Tj ET Q q 0 0 0 rg BT 84.07 222.75 Td (W) Tj ET Q q 0 0 0 rg BT 90.98 222.75 Td (ater ) Tj ET Q q 0 0 0 rg BT 104.53 222.75 Td (Absorbents, Inc.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 282.55 238.75 Td (Oil & Gas) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 277.30 230.75 Td (Equipment &) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 285.40 222.75 Td (Services) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 209.75 Td (Common Stock \(acquired 4/30/16\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 208.15 209.75 Td (\(M\) \(L3\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 371.30 209.75 Td (50,243,350) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.00 209.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 449.30 209.75 Td (7,670,281) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.00 209.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 554.30 209.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 196.75 Td (W) Tj ET Q q 0 0 0 rg BT 65.23 196.75 Td (arrants for Common Stock expiring) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 188.75 Td (upon liquidation event \(acquired) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 180.75 Td (4/30/16\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 208.15 180.75 Td (\(M\) \(L3\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 381.30 180.75 Td (450,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 459.30 180.75 Td (65,250) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 554.30 180.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 167.75 Td (Senior Secured Debt, 15%) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 159.75 Td (commencing on 4/1/16, maturing on) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 151.75 Td (12/31/19 \(acquired 4/1/16\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 208.15 151.75 Td (\(M\) \(L3\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 344.00 151.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.30 151.75 Td (2,533,766) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 449.30 151.75 Td (2,323,680) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.30 151.75 Td (76,863) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 138.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.00 138.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET 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730.73 Td (chased/) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 359.70 722.73 Td (Principal) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 422.45 730.73 Td (Cost of ) Tj ET Q q 0 0 0 rg BT 448.60 730.73 Td (TURN's) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 430.35 722.73 Td (Investment) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 509.45 722.73 Td (V) Tj ET Q q 0 0 0 rg BT 514.49 722.73 Td (aluation) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 709.73 Td (NON-CONTROLLED ) Tj ET Q q 0 0 0 rg BT 131.12 709.73 Td (AFFILIA) Tj ET Q q 0 0 0 rg BT 163.49 709.73 Td (TED) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 701.73 Td (COMP) Tj ET Q q 0 0 0 rg BT 76.14 701.73 Td (ANIES) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 688.73 Td (PRIV) Tj ET Q q 0 0 0 rg BT 71.04 688.73 Td (A) Tj ET Q q 0 0 0 rg BT 76.00 688.73 Td (TEL) Tj ET Q q 0 0 0 rg BT 91.35 688.73 Td (Y) Tj ET Q q 0 0 0 rg BT 96.61 688.73 Td ( HELD COMP) Tj ET Q q 0 0 0 rg BT 147.27 688.73 Td (ANIES) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 667.75 Td (T) Tj ET Q q 0 0 0 rg BT 56.57 667.75 Td (ARA) Tj ET Q q 0 0 0 rg BT 72.92 667.75 Td ( Biosystems, Inc.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 277.30 675.75 Td (Life Sciences) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 271.50 667.75 Td (T) Tj ET Q q 0 0 0 rg BT 276.11 667.75 Td (ools & Services) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 654.75 Td (Common Stock \(acquired 8/20/14\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 210.35 654.75 Td (\(I\) \(L3\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.30 654.75 Td (2,000,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.00 654.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 473.30 654.75 Td (20) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.00 654.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.30 654.75 Td (659,162) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 641.75 Td (Series ) Tj ET Q q 0 0 0 rg BT 79.33 641.75 Td (A) Tj ET Q q 0 0 0 rg BT 84.67 641.75 Td ( Convertible Preferred Stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 633.75 Td (\(acquired 3/31/17\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 210.35 633.75 Td (\(I\) \(L3\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.30 633.75 Td (6,878,572) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 449.30 633.75 Td (2,545,493) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 526.30 633.75 Td (2,842,393) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 612.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.00 612.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 449.30 612.75 Td (2,545,513) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.00 612.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 526.30 612.75 Td (3,501,555) Tj ET Q BT /F2 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 52.00 605.15 107.12 -7.14 re f /GS0 gs q 0 0 0 rg BT 52.00 599.73 Td (T) Tj ET Q q 0 0 0 rg BT 56.60 599.73 Td (otal Non-Contr) Tj ET Q q 0 0 0 rg BT 108.68 599.73 Td (olled ) Tj ET Q q 0 0 0 rg BT 126.68 599.73 Td (Affiliated) Tj ET Q BT /F2 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 52.00 597.15 119.10 -7.14 re f /GS0 gs q 0 0 0 rg BT 52.00 591.73 Td (Privately Held Companies \(32.2%\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 418.00 591.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 445.30 591.73 Td (27,027,538) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 494.00 591.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 522.30 591.73 Td (26,429,303) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 563.73 Td (NON-CONTROLLED ) Tj ET Q q 0 0 0 rg BT 131.12 563.73 Td (AFFILIA) Tj ET Q q 0 0 0 rg BT 163.49 563.73 Td (TED) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 555.73 Td (COMP) Tj ET Q q 0 0 0 rg BT 76.14 555.73 Td (ANIES) Tj ET Q BT /F2 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 52.00 548.15 126.41 -7.14 re f /GS0 gs q 0 0 0 rg BT 52.00 542.73 Td (PUBLICL) Tj ET Q q 0 0 0 rg BT 86.83 542.73 Td (Y) Tj ET Q q 0 0 0 rg BT 92.31 542.73 Td ( ) Tj ET Q q 0 0 0 rg BT 94.16 542.73 Td (TRADED SECURITIES) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 521.75 Td (Synacor) Tj ET Q q 0 0 0 rg BT 78.05 521.75 Td (, Inc.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 280.10 529.75 Td (Application) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 284.55 521.75 Td (Software) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 508.75 Td (Common Stock \(acquired) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 500.75 Td (4/6/17-12/31/18\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 208.15 500.75 Td (\(M\) \(L1\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.30 500.75 Td (1,595,306) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.00 500.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 449.30 500.75 Td (4,338,396) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.00 500.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 526.30 500.75 Td (2,361,053) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 52.00 485.30 47.31 -7.27 re f /GS0 gs q 0 0 0 rg BT 52.00 479.75 Td (TheStreet, Inc.) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 284.10 493.30 29.77 -7.27 re f /GS0 gs q 0 0 0 rg BT 284.10 487.75 Td (Financial) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 269.00 485.30 59.98 -7.27 re f /GS0 gs q 0 0 0 rg BT 269.00 479.75 Td (Exchanges & Data) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 58.00 472.30 82.21 -7.27 re f /GS0 gs q 0 0 0 rg BT 58.00 466.75 Td (Common Stock \(acquired) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 58.00 464.30 54.22 -7.27 re f /GS0 gs q 0 0 0 rg BT 58.00 458.75 Td (4/19/17-5/18/18\)) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 208.15 464.30 28.66 -7.27 re f /GS0 gs q 0 0 0 rg BT 208.15 458.75 Td (\(M\) \(L1\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.30 458.75 Td (4,668,552) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.00 458.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 449.30 458.75 Td (4,949,734) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.00 458.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 526.30 458.75 Td (9,477,161) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 58.00 451.30 108.89 -7.27 re f /GS0 gs q 0 0 0 rg BT 58.00 445.75 Td (Stock Options for Common Stock) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 58.00 443.30 107.75 -7.27 re f /GS0 gs q 0 0 0 rg BT 58.00 437.75 Td (Expiring 1/1/25 \(acquired 1/1/18\)) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 210.35 443.30 24.21 -7.27 re f /GS0 gs q 0 0 0 rg BT 210.35 437.75 Td (\(I\) \(L3\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 389.30 437.75 Td (3,333) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 477.30 437.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 437.75 Td (1,995) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 58.00 430.30 108.89 -7.27 re f /GS0 gs q 0 0 0 rg BT 58.00 424.75 Td (Stock Options for Common Stock) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 58.00 422.30 115.75 -7.27 re f /GS0 gs q 0 0 0 rg BT 58.00 416.75 Td (Expiring 5/18/25 \(acquired 5/18/18\)) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 210.35 422.30 24.21 -7.27 re f /GS0 gs q 0 0 0 rg BT 210.35 416.75 Td (\(I\) \(L3\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.30 416.75 Td (10,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 477.30 416.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 416.75 Td (2,500) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 58.00 409.30 104.20 -7.27 re f /GS0 gs q 0 0 0 rg BT 58.00 403.75 Td (Restricted Stock Units \(acquired) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 58.00 401.30 27.11 -7.27 re f /GS0 gs q 0 0 0 rg BT 58.00 395.75 Td (5/18/18\)) Tj ET Q BT /F1 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 208.15 401.30 28.66 -7.27 re f /GS0 gs q 0 0 0 rg BT 208.15 395.75 Td (\(M\) \(L3\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.30 395.75 Td (33,333) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 477.30 395.75 Td (0) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.30 395.75 Td (64,668) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 374.75 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.00 374.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 449.30 374.75 Td (4,949,734) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.00 374.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 526.30 374.75 Td (9,546,324) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 361.73 Td (T) Tj ET Q q 0 0 0 rg BT 56.97 361.73 Td (otal Non-Contr) Tj ET Q q 0 0 0 rg BT 108.75 361.73 Td (olled ) Tj ET Q q 0 0 0 rg BT 126.90 361.73 Td (Affiliated) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 353.73 Td (Publicly ) Tj ET Q q 0 0 0 rg BT 81.93 353.73 Td (T) Tj ET Q q 0 0 0 rg BT 86.90 353.73 Td (raded Securities \(14.5%\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 418.00 353.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.30 353.73 Td (9,288,130) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 494.00 353.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 522.30 353.73 Td (1) Tj ET Q q 0 0 0 rg BT 526.30 353.73 Td (1,907,377) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 327.73 Td (EQUITY) Tj ET Q q 0 0 0 rg BT 83.41 327.73 Td ( METHOD PRIV) Tj ET Q q 0 0 0 rg BT 142.75 327.73 Td (A) Tj ET Q q 0 0 0 rg BT 147.71 327.73 Td (TEL) Tj ET Q q 0 0 0 rg BT 163.06 327.73 Td (Y) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 319.73 Td (HELD COMP) Tj ET Q q 0 0 0 rg BT 100.81 319.73 Td (ANY) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 290.75 Td (Accelerator IV) Tj ET Q q 0 0 0 rg BT 99.01 290.75 Td (-New ) Tj ET Q q 0 0 0 rg BT 118.48 290.75 Td (Y) Tj ET Q q 0 0 0 rg BT 123.46 290.75 Td (ork Corporation) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 280.20 306.75 Td (Research &) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 281.40 298.75 Td (Consulting) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 285.40 290.75 Td (Services) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 277.75 Td (Series ) Tj ET Q q 0 0 0 rg BT 79.11 277.75 Td (A) Tj ET Q q 0 0 0 rg BT 84.45 277.75 Td ( Common Stock \(acquired) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 269.75 Td (7/21/14-12/12/18\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 217.35 269.75 Td (\(E\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 381.30 269.75 Td (833,333) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.00 269.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 455.30 269.75 Td (246,229) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 494.00 269.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.30 269.75 Td (246,229) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 256.73 Td (T) Tj ET Q q 0 0 0 rg BT 56.97 256.73 Td (otal Equity Method Privately Held) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 248.73 Td (Company \(0.3%\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 418.00 248.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 455.30 248.73 Td (246,229) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 494.00 248.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 532.30 248.73 Td (246,229) Tj ET Q BT /F2 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 52.00 241.15 125.13 -7.14 re f /GS0 gs q 0 0 0 rg BT 52.00 235.73 Td (T) Tj ET Q q 0 0 0 rg BT 56.60 235.73 Td (otal Investments in Non-Contr) Tj ET Q q 0 0 0 rg BT 160.68 235.73 Td (olled) Tj ET Q BT /F2 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 52.00 233.15 131.27 -7.14 re f /GS0 gs q 0 0 0 rg BT 52.00 227.73 Td (Affiliated Companies, Publicly ) Tj ET Q q 0 0 0 rg BT 158.52 227.73 Td (T) Tj ET Q q 0 0 0 rg BT 163.27 227.73 Td (raded) Tj ET Q BT /F2 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 52.00 225.15 102.01 -7.14 re f /GS0 gs q 0 0 0 rg BT 52.00 219.73 Td (Securities and Equity Method) Tj ET Q BT /F2 8.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 52.00 217.15 114.21 -7.14 re f /GS0 gs q 0 0 0 rg BT 52.00 211.73 Td (Privately Held Company \(47.0%\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 418.00 211.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 445.30 211.73 Td (36,561,897) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 494.00 211.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 522.30 211.73 Td (38,582,909) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 198.73 Td (T) Tj ET Q q 0 0 0 rg BT 56.60 198.73 Td (otal Investments in Contr) Tj ET Q q 0 0 0 rg BT 143.79 198.73 Td (olled, Non-) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 190.73 Td (Contr) Tj ET Q q 0 0 0 rg BT 72.30 190.73 Td (olled ) Tj ET Q q 0 0 0 rg BT 90.30 190.73 Td (Affiliated Companies,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 182.73 Td (Publicly ) Tj ET Q q 0 0 0 rg BT 81.86 182.73 Td (T) Tj ET Q q 0 0 0 rg BT 86.60 182.73 Td (raded Securities and Equity) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 174.73 Td (Method Privately Held Company) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 166.73 Td (\(53.5%\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 418.00 166.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 445.30 166.73 Td (48,829,072) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 494.00 166.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 522.30 166.73 Td (43,854,323) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 101 0 obj <> endobj 102 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (50) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 181.05 742.25 Td (Report of Independent Register) Tj ET Q q 0 0 0 rg BT 316.13 742.25 Td (ed Public ) Tj ET Q q 0 0 0 rg BT 357.81 742.25 Td (Accounting Firm) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.25 Td (T) Tj ET Q q 0 0 0 rg BT 55.41 718.25 Td (o) Tj ET Q BT /F2 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 0 0 rg BT 60.41 718.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 62.91 718.25 Td (the Board of Directors and Shareholders of 180 Degree Capital Corp. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 694.25 Td (Opinion on the Financial Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 670.25 Td (e ) Tj ET Q q 0 0 0 rg BT 67.18 670.25 Td (have ) Tj ET Q q 0 0 0 rg BT 90.16 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Q q 0 0 0 rg BT 345.55 406.25 Td (misstatement ) Tj ET Q q 0 0 0 rg BT 400.90 406.25 Td (of ) Tj ET Q q 0 0 0 rg BT 411.81 406.25 Td (the ) Tj ET Q q 0 0 0 rg BT 426.61 406.25 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 479.73 406.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 517.29 406.25 Td (statements, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.25 Td (whether ) Tj ET Q q 0 0 0 rg BT 84.76 394.25 Td (due ) Tj ET Q q 0 0 0 rg BT 101.76 394.25 Td (to ) Tj ET Q q 0 0 0 rg BT 112.09 394.25 Td (error ) Tj ET Q q 0 0 0 rg BT 134.07 394.25 Td (or ) Tj ET Q q 0 0 0 rg BT 144.96 394.25 Td (fraud, ) Tj ET Q q 0 0 0 rg BT 171.11 394.25 Td (and ) Tj ET Q q 0 0 0 rg BT 188.11 394.25 Td (performing ) Tj ET Q q 0 0 0 rg BT 235.65 394.25 Td (procedures ) Tj ET Q q 0 0 0 rg BT 282.07 394.25 Td (that ) Tj ET Q q 0 0 0 rg BT 299.62 394.25 Td (respond ) Tj ET Q q 0 0 0 rg BT 333.83 394.25 Td (to ) Tj ET Q q 0 0 0 rg BT 344.17 394.25 Td (those ) Tj ET Q q 0 0 0 rg BT 367.83 394.25 Td (risks. ) Tj ET Q q 0 0 0 rg BT 391.78 394.25 Td (Such ) Tj ET Q q 0 0 0 rg BT 414.33 394.25 Td (procedures ) Tj ET Q q 0 0 0 rg BT 460.76 394.25 Td (included ) Tj ET Q q 0 0 0 rg BT 497.74 394.25 Td (examining, ) Tj ET Q q 0 0 0 rg BT 545.01 394.25 Td (on ) Tj ET Q q 0 0 0 rg BT 557.57 394.25 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.25 Td (test ) Tj ET Q q 0 0 0 rg BT 67.42 382.25 Td (basis, ) Tj ET Q q 0 0 0 rg BT 93.46 382.25 Td (evidence ) Tj ET Q q 0 0 0 rg BT 132.53 382.25 Td (regarding ) Tj ET Q q 0 0 0 rg BT 174.38 382.25 Td (the ) Tj ET Q q 0 0 0 rg BT 190.13 382.25 Td (amounts ) Tj ET Q q 0 0 0 rg BT 227.56 382.25 Td (and ) Tj ET Q q 0 0 0 rg BT 245.53 382.25 Td (disclosures ) Tj ET Q q 0 0 0 rg BT 293.51 382.25 Td (in ) Tj ET Q q 0 0 0 rg BT 304.82 382.25 Td (the ) Tj ET Q q 0 0 0 rg BT 320.58 382.25 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 374.65 382.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 413.17 382.25 Td (statements. ) Tj ET Q q 0 0 0 rg BT 461.42 382.25 Td (Our ) Tj ET Q q 0 0 0 rg BT 480.51 382.25 Td (audits ) Tj ET Q q 0 0 0 rg BT 507.93 382.25 Td (also ) Tj ET Q q 0 0 0 rg BT 527.58 382.25 Td (included ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.25 Td (evaluating ) Tj ET Q q 0 0 0 rg BT 95.52 370.25 Td (the ) Tj ET Q q 0 0 0 rg BT 111.60 370.25 Td (accounting ) Tj ET Q q 0 0 0 rg BT 159.34 370.25 Td (principles ) Tj ET Q q 0 0 0 rg BT 202.64 370.25 Td (used ) Tj ET Q q 0 0 0 rg BT 224.84 370.25 Td (and ) Tj ET Q q 0 0 0 rg BT 243.15 370.25 Td (significant ) Tj ET Q q 0 0 0 rg BT 289.23 370.25 Td (estimates ) Tj ET Q q 0 0 0 rg BT 330.31 370.25 Td (made ) Tj ET Q q 0 0 0 rg BT 355.83 370.25 Td (by ) Tj ET Q q 0 0 0 rg BT 369.70 370.25 Td (management, ) Tj ET Q q 0 0 0 rg BT 427.15 370.25 Td (as ) Tj ET Q q 0 0 0 rg BT 439.35 370.25 Td (well ) Tj ET Q q 0 0 0 rg BT 460.44 370.25 Td (as ) Tj ET Q q 0 0 0 rg BT 472.63 370.25 Td (evaluating ) Tj ET Q q 0 0 0 rg BT 518.15 370.25 Td (the ) Tj ET Q q 0 0 0 rg BT 534.24 370.25 Td (overall ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.25 Td (presentation ) Tj ET Q q 0 0 0 rg BT 101.14 358.25 Td (of ) Tj ET Q q 0 0 0 rg BT 111.75 358.25 Td (the ) Tj ET Q q 0 0 0 rg BT 126.23 358.25 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 179.05 358.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 216.30 358.25 Td (statements. ) Tj ET Q q 0 0 0 rg BT 263.29 358.25 Td ( ) Tj ET Q q 0 0 0 rg BT 265.56 358.25 Td (Our ) Tj ET Q q 0 0 0 rg BT 283.38 358.25 Td (procedures ) Tj ET Q q 0 0 0 rg BT 329.52 358.25 Td (included ) Tj ET Q q 0 0 0 rg BT 366.23 358.25 Td (confirmation ) Tj ET Q q 0 0 0 rg BT 420.15 358.25 Td (of ) Tj ET Q q 0 0 0 rg BT 430.75 358.25 Td (securities ) Tj ET Q q 0 0 0 rg BT 470.79 358.25 Td (owned ) Tj ET Q q 0 0 0 rg BT 499.72 358.25 Td (as ) Tj ET Q q 0 0 0 rg BT 510.32 358.25 Td (of ) Tj ET Q q 0 0 0 rg BT 520.92 358.25 Td (December ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.25 Td (31, ) Tj ET Q q 0 0 0 rg BT 65.21 346.25 Td (2018 ) Tj ET Q q 0 0 0 rg BT 87.92 346.25 Td (by ) Tj ET Q q 0 0 0 rg BT 100.63 346.25 Td (correspondence ) Tj ET Q q 0 0 0 rg BT 166.08 346.25 Td (with ) Tj ET Q q 0 0 0 rg BT 186.57 346.25 Td (the ) Tj ET Q q 0 0 0 rg BT 201.49 346.25 Td (custodian, ) Tj ET Q q 0 0 0 rg BT 245.03 346.25 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 282.73 346.25 Td (companies ) Tj ET Q q 0 0 0 rg BT 328.20 346.25 Td (and ) Tj ET Q q 0 0 0 rg BT 345.35 346.25 Td (broker; ) Tj ET Q q 0 0 0 rg BT 376.94 346.25 Td (when ) Tj ET Q q 0 0 0 rg BT 401.31 346.25 Td (replies ) Tj ET Q q 0 0 0 rg BT 430.67 346.25 Td (were ) Tj ET Q q 0 0 0 rg BT 452.81 346.25 Td (not ) Tj ET Q q 0 0 0 rg BT 468.30 346.25 Td (received ) Tj ET Q q 0 0 0 rg BT 504.87 346.25 Td (from ) Tj ET Q q 0 0 0 rg BT 527.01 346.25 Td (portfolio ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.25 Td (companies ) Tj ET Q q 0 0 0 rg BT 95.93 334.25 Td (and ) Tj ET Q q 0 0 0 rg BT 113.53 334.25 Td (broker) Tj ET Q q 0 0 0 rg BT 139.23 334.25 Td (, ) Tj ET Q q 0 0 0 rg BT 144.89 334.25 Td (we ) Tj ET Q q 0 0 0 rg BT 159.72 334.25 Td (performed ) Tj ET Q q 0 0 0 rg BT 204.53 334.25 Td (other ) Tj ET Q q 0 0 0 rg BT 228.24 334.25 Td (auditing ) Tj ET Q q 0 0 0 rg BT 264.17 334.25 Td (procedures. ) Tj ET Q q 0 0 0 rg BT 313.48 334.25 Td (W) Tj ET Q q 0 0 0 rg BT 322.12 334.25 Td (e ) Tj ET Q q 0 0 0 rg BT 329.72 334.25 Td (believe ) Tj ET Q q 0 0 0 rg BT 361.75 334.25 Td (that ) Tj ET Q q 0 0 0 rg BT 379.91 334.25 Td (our ) Tj ET Q q 0 0 0 rg BT 396.41 334.25 Td (audits ) Tj ET Q q 0 0 0 rg BT 423.46 334.25 Td (provide ) Tj ET Q q 0 0 0 rg BT 457.17 334.25 Td (a ) Tj ET Q q 0 0 0 rg BT 464.77 334.25 Td (reasonable ) Tj ET Q q 0 0 0 rg BT 510.69 334.25 Td (basis ) Tj ET Q q 0 0 0 rg BT 533.85 334.25 Td (for ) Tj ET Q q 0 0 0 rg BT 548.68 334.25 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.25 Td (opinion. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.25 Td (/s/ PricewaterhouseCoopers LLP) Tj ET Q q 0 0 0 rg BT 181.27 274.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.25 Td (New ) Tj ET Q q 0 0 0 rg BT 71.01 262.25 Td (Y) Tj ET Q q 0 0 0 rg BT 77.23 262.25 Td (ork, New ) Tj ET Q q 0 0 0 rg BT 116.57 262.25 Td (Y) Tj ET Q q 0 0 0 rg BT 122.79 262.25 Td (ork) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.25 Td (February 25, 2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 226.25 Td (e have served as the Company's auditor since 2002.) Tj ET Q endstream endobj 103 0 obj <> endobj 104 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (51) Tj ET Q 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 1 J 1 j 3 M 50 744.1 m 562 744.1 l s BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 275.30 718.10 Td (Privacy Policy) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 694.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 694.10 Td (e ) Tj ET Q q 0 0 0 rg BT 102.00 694.10 Td (are ) Tj ET Q q 0 0 0 rg BT 117.14 694.10 Td (committed ) Tj ET Q q 0 0 0 rg BT 162.83 694.10 Td (to ) Tj ET Q q 0 0 0 rg BT 173.54 694.10 Td (protecting ) Tj ET Q q 0 0 0 rg BT 217.01 694.10 Td (your ) Tj ET Q q 0 0 0 rg BT 238.27 694.10 Td (privacy) Tj ET Q q 0 0 0 rg BT 267.60 694.10 Td (. ) Tj ET Q q 0 0 0 rg BT 272.82 694.10 Td (This ) Tj ET Q q 0 0 0 rg BT 293.52 694.10 Td (privacy ) Tj ET Q q 0 0 0 rg BT 326.44 694.10 Td (notice ) Tj ET Q q 0 0 0 rg BT 353.80 694.10 Td (explains ) Tj ET Q q 0 0 0 rg BT 390.05 694.10 Td (the ) Tj ET Q q 0 0 0 rg BT 405.19 694.10 Td (privacy ) Tj ET Q q 0 0 0 rg BT 438.11 694.10 Td (policies ) Tj ET Q q 0 0 0 rg BT 472.14 694.10 Td (of ) Tj ET Q q 0 0 0 rg BT 483.39 694.10 Td (180 ) Tj ET Q q 0 0 0 rg BT 501.32 694.10 Td (Degree ) Tj ET Q q 0 0 0 rg BT 533.12 694.10 Td (Capital ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (Corp. ) Tj ET Q q 0 0 0 rg BT 75.00 682.10 Td (and ) Tj ET Q q 0 0 0 rg BT 91.94 682.10 Td (its ) Tj ET Q q 0 0 0 rg BT 103.89 682.10 Td (af) Tj ET Q q 0 0 0 rg BT 111.47 682.10 Td (filiates. ) Tj ET Q q 0 0 0 rg BT 143.51 682.10 Td (This ) Tj ET Q q 0 0 0 rg BT 163.78 682.10 Td (notice ) Tj ET Q q 0 0 0 rg BT 190.72 682.10 Td (supersedes ) Tj ET Q q 0 0 0 rg BT 236.54 682.10 Td (any ) Tj ET Q q 0 0 0 rg BT 253.48 682.10 Td (other ) Tj ET Q q 0 0 0 rg BT 276.52 682.10 Td (privacy ) Tj ET Q q 0 0 0 rg BT 309.01 682.10 Td (notice ) Tj ET Q q 0 0 0 rg BT 335.94 682.10 Td (you ) Tj ET Q q 0 0 0 rg BT 353.44 682.10 Td (may ) Tj ET Q q 0 0 0 rg BT 373.16 682.10 Td (have ) Tj ET Q q 0 0 0 rg BT 394.54 682.10 Td (received ) Tj ET Q q 0 0 0 rg BT 430.90 682.10 Td (from ) Tj ET Q q 0 0 0 rg BT 452.84 682.10 Td (180 ) Tj ET Q q 0 0 0 rg BT 470.34 682.10 Td (Degree ) Tj ET Q q 0 0 0 rg BT 501.70 682.10 Td (Capital ) Tj ET Q q 0 0 0 rg BT 533.09 682.10 Td (Corp. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 658.10 Td (Generally) Tj ET Q q 0 0 0 rg BT 124.77 658.10 Td (, ) Tj ET Q q 0 0 0 rg BT 130.43 658.10 Td (we ) Tj ET Q q 0 0 0 rg BT 145.25 658.10 Td (do ) Tj ET Q q 0 0 0 rg BT 158.41 658.10 Td (not ) Tj ET Q q 0 0 0 rg BT 174.35 658.10 Td (receive ) Tj ET Q q 0 0 0 rg BT 206.37 658.10 Td (any ) Tj ET Q q 0 0 0 rg BT 223.96 658.10 Td (non-public ) Tj ET Q q 0 0 0 rg BT 270.45 658.10 Td (personal ) Tj ET Q q 0 0 0 rg BT 307.48 658.10 Td (information ) Tj ET Q q 0 0 0 rg BT 357.85 658.10 Td (relating ) Tj ET Q q 0 0 0 rg BT 391.55 658.10 Td (to ) Tj ET Q q 0 0 0 rg BT 402.49 658.10 Td (our ) Tj ET Q q 0 0 0 rg BT 418.98 658.10 Td (shareholders, ) Tj ET Q q 0 0 0 rg BT 475.17 658.10 Td (although ) Tj ET Q q 0 0 0 rg BT 513.33 658.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 543.69 658.10 Td (non-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (public ) Tj ET Q q 0 0 0 rg BT 77.96 646.10 Td (personal ) Tj ET Q q 0 0 0 rg BT 114.79 646.10 Td (information ) Tj ET Q q 0 0 0 rg BT 164.97 646.10 Td (of ) Tj ET Q q 0 0 0 rg BT 176.26 646.10 Td (our ) Tj ET Q q 0 0 0 rg BT 192.55 646.10 Td (shareholders ) Tj ET Q q 0 0 0 rg BT 246.04 646.10 Td (may ) Tj ET Q q 0 0 0 rg BT 266.22 646.10 Td (become ) Tj ET Q q 0 0 0 rg BT 300.28 646.10 Td (available ) Tj ET Q q 0 0 0 rg BT 339.32 646.10 Td (to ) Tj ET Q q 0 0 0 rg BT 350.06 646.10 Td (us. ) Tj ET Q q 0 0 0 rg BT 364.20 646.10 Td (W) Tj ET Q q 0 0 0 rg BT 372.84 646.10 Td (e ) Tj ET Q q 0 0 0 rg BT 380.24 646.10 Td (maintain ) Tj ET Q q 0 0 0 rg BT 418.19 646.10 Td (physical, ) Tj ET Q q 0 0 0 rg BT 456.97 646.10 Td (electronic, ) Tj ET Q q 0 0 0 rg BT 501.85 646.10 Td (and ) Tj ET Q q 0 0 0 rg BT 519.25 646.10 Td (procedural ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (safeguards, ) Tj ET Q q 0 0 0 rg BT 96.98 634.10 Td (according ) Tj ET Q q 0 0 0 rg BT 138.13 634.10 Td (to ) Tj ET Q q 0 0 0 rg BT 147.64 634.10 Td (strict ) Tj ET Q q 0 0 0 rg BT 169.36 634.10 Td (standards ) Tj ET Q q 0 0 0 rg BT 208.85 634.10 Td (of ) Tj ET Q q 0 0 0 rg BT 218.91 634.10 Td (security ) Tj ET Q q 0 0 0 rg BT 252.29 634.10 Td (and ) Tj ET Q q 0 0 0 rg BT 268.45 634.10 Td (confidentiality) Tj ET Q q 0 0 0 rg BT 326.12 634.10 Td (, ) Tj ET Q q 0 0 0 rg BT 330.34 634.10 Td (all ) Tj ET Q q 0 0 0 rg BT 342.06 634.10 Td (information ) Tj ET Q q 0 0 0 rg BT 391.00 634.10 Td (we ) Tj ET Q q 0 0 0 rg BT 404.38 634.10 Td (receive ) Tj ET Q q 0 0 0 rg BT 434.97 634.10 Td (about ) Tj ET Q q 0 0 0 rg BT 458.91 634.10 Td (you. ) Tj ET Q q 0 0 0 rg BT 478.01 634.10 Td (The ) Tj ET Q q 0 0 0 rg BT 495.28 634.10 Td (only ) Tj ET Q q 0 0 0 rg BT 514.79 634.10 Td (information ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (we ) Tj ET Q q 0 0 0 rg BT 63.90 622.10 Td (collect ) Tj ET Q q 0 0 0 rg BT 92.78 622.10 Td (from ) Tj ET Q q 0 0 0 rg BT 114.46 622.10 Td (you ) Tj ET Q q 0 0 0 rg BT 131.69 622.10 Td (is ) Tj ET Q q 0 0 0 rg BT 140.60 622.10 Td (your ) Tj ET Q q 0 0 0 rg BT 161.17 622.10 Td (name, ) Tj ET Q q 0 0 0 rg BT 187.56 622.10 Td (address, ) Tj ET Q q 0 0 0 rg BT 222.29 622.10 Td (and ) Tj ET Q q 0 0 0 rg BT 238.96 622.10 Td (number ) Tj ET Q q 0 0 0 rg BT 271.74 622.10 Td (of ) Tj ET Q q 0 0 0 rg BT 282.31 622.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 309.54 622.10 Td (you ) Tj ET Q q 0 0 0 rg BT 326.77 622.10 Td (hold. ) Tj ET Q q 0 0 0 rg BT 349.13 622.10 Td (This ) Tj ET Q q 0 0 0 rg BT 369.14 622.10 Td (information ) Tj ET Q q 0 0 0 rg BT 418.59 622.10 Td (is ) Tj ET Q q 0 0 0 rg BT 427.49 622.10 Td (used ) Tj ET Q q 0 0 0 rg BT 448.06 622.10 Td (only ) Tj ET Q q 0 0 0 rg BT 468.08 622.10 Td (so ) Tj ET Q q 0 0 0 rg BT 479.20 622.10 Td (that ) Tj ET Q q 0 0 0 rg BT 496.44 622.10 Td (we ) Tj ET Q q 0 0 0 rg BT 510.33 622.10 Td (can ) Tj ET Q q 0 0 0 rg BT 526.44 622.10 Td (send ) Tj ET Q q 0 0 0 rg BT 547.01 622.10 Td (you ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (annual ) Tj ET Q q 0 0 0 rg BT 79.65 610.10 Td (reports ) Tj ET Q q 0 0 0 rg BT 110.41 610.10 Td (and ) Tj ET Q q 0 0 0 rg BT 127.85 610.10 Td (other ) Tj ET Q q 0 0 0 rg BT 151.39 610.10 Td (information ) Tj ET Q q 0 0 0 rg BT 201.59 610.10 Td (about ) Tj ET Q q 0 0 0 rg BT 226.81 610.10 Td (us, ) Tj ET Q q 0 0 0 rg BT 241.19 610.10 Td (and ) Tj ET Q q 0 0 0 rg BT 258.63 610.10 Td (send ) Tj ET Q q 0 0 0 rg BT 279.95 610.10 Td (you ) Tj ET Q q 0 0 0 rg BT 297.94 610.10 Td (proxy ) Tj ET Q q 0 0 0 rg BT 324.27 610.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 369.48 610.10 Td (or ) Tj ET Q q 0 0 0 rg BT 380.80 610.10 Td (other ) Tj ET Q q 0 0 0 rg BT 404.34 610.10 Td (information ) Tj ET Q q 0 0 0 rg BT 454.55 610.10 Td (required ) Tj ET Q q 0 0 0 rg BT 490.86 610.10 Td (by ) Tj ET Q q 0 0 0 rg BT 503.85 610.10 Td (law) Tj ET Q q 0 0 0 rg BT 517.64 610.10 Td (. ) Tj ET Q q 0 0 0 rg BT 522.92 610.10 Td (When ) Tj ET Q q 0 0 0 rg BT 549.79 610.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 92.05 598.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 120.20 598.10 Td (non-public ) Tj ET Q q 0 0 0 rg BT 166.69 598.10 Td (shareholder ) Tj ET Q q 0 0 0 rg BT 216.50 598.10 Td (personal ) Tj ET Q q 0 0 0 rg BT 253.54 598.10 Td (information ) Tj ET Q q 0 0 0 rg BT 303.92 598.10 Td (referred ) Tj ET Q q 0 0 0 rg BT 338.71 598.10 Td (to ) Tj ET Q q 0 0 0 rg BT 349.66 598.10 Td (above, ) Tj ET Q q 0 0 0 rg BT 379.20 598.10 Td (the ) Tj ET Q q 0 0 0 rg BT 394.58 598.10 Td (information ) Tj ET Q q 0 0 0 rg BT 444.95 598.10 Td (is ) Tj ET Q q 0 0 0 rg BT 454.78 598.10 Td (made ) Tj ET Q q 0 0 0 rg BT 479.60 598.10 Td (available ) Tj ET Q q 0 0 0 rg BT 518.85 598.10 Td (for ) Tj ET Q q 0 0 0 rg BT 533.68 598.10 Td (limited ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (business ) Tj ET Q q 0 0 0 rg BT 87.20 586.10 Td (purposes ) Tj ET Q q 0 0 0 rg BT 126.05 586.10 Td (and ) Tj ET Q q 0 0 0 rg BT 143.80 586.10 Td (under ) Tj ET Q q 0 0 0 rg BT 169.87 586.10 Td (controlled ) Tj ET Q q 0 0 0 rg BT 213.72 586.10 Td (circumstances ) Tj ET Q q 0 0 0 rg BT 273.67 586.10 Td (designed ) Tj ET Q q 0 0 0 rg BT 312.52 586.10 Td (to ) Tj ET Q q 0 0 0 rg BT 323.60 586.10 Td (protect ) Tj ET Q q 0 0 0 rg BT 354.67 586.10 Td (our ) Tj ET Q q 0 0 0 rg BT 371.31 586.10 Td (shareholders' ) Tj ET Q q 0 0 0 rg BT 426.95 586.10 Td (privacy) Tj ET Q q 0 0 0 rg BT 456.29 586.10 Td (. ) Tj ET Q q 0 0 0 rg BT 461.86 586.10 Td (W) Tj ET Q q 0 0 0 rg BT 470.49 586.10 Td (e ) Tj ET Q q 0 0 0 rg BT 478.24 586.10 Td (do ) Tj ET Q q 0 0 0 rg BT 491.54 586.10 Td (not ) Tj ET Q q 0 0 0 rg BT 507.63 586.10 Td (permit ) Tj ET Q q 0 0 0 rg BT 537.04 586.10 Td (use ) Tj ET Q q 0 0 0 rg BT 553.67 586.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (shareholder ) Tj ET Q q 0 0 0 rg BT 98.79 574.10 Td (information ) Tj ET Q q 0 0 0 rg BT 148.15 574.10 Td (for ) Tj ET Q q 0 0 0 rg BT 161.95 574.10 Td (any ) Tj ET Q q 0 0 0 rg BT 178.54 574.10 Td (non-business ) Tj ET Q q 0 0 0 rg BT 232.90 574.10 Td (or ) Tj ET Q q 0 0 0 rg BT 243.38 574.10 Td (marketing ) Tj ET Q q 0 0 0 rg BT 286.06 574.10 Td (purpose, ) Tj ET Q q 0 0 0 rg BT 322.37 574.10 Td (nor ) Tj ET Q q 0 0 0 rg BT 337.85 574.10 Td (do ) Tj ET Q q 0 0 0 rg BT 349.99 574.10 Td (we ) Tj ET Q q 0 0 0 rg BT 363.80 574.10 Td (permit ) Tj ET Q q 0 0 0 rg BT 392.04 574.10 Td (third ) Tj ET Q q 0 0 0 rg BT 413.08 574.10 Td (parties ) Tj ET Q q 0 0 0 rg BT 441.88 574.10 Td (to ) Tj ET Q q 0 0 0 rg BT 451.80 574.10 Td (rent, ) Tj ET Q q 0 0 0 rg BT 471.99 574.10 Td (sell, ) Tj ET Q q 0 0 0 rg BT 490.52 574.10 Td (trade ) Tj ET Q q 0 0 0 rg BT 512.65 574.10 Td (or ) Tj ET Q q 0 0 0 rg BT 523.13 574.10 Td (otherwise ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (release ) Tj ET Q q 0 0 0 rg BT 80.25 562.10 Td (or ) Tj ET Q q 0 0 0 rg BT 91.08 562.10 Td (disclose ) Tj ET Q q 0 0 0 rg BT 125.80 562.10 Td (information ) Tj ET Q q 0 0 0 rg BT 175.51 562.10 Td (to ) Tj ET Q q 0 0 0 rg BT 185.79 562.10 Td (any ) Tj ET Q q 0 0 0 rg BT 202.73 562.10 Td (other ) Tj ET Q q 0 0 0 rg BT 225.78 562.10 Td (party) Tj ET Q q 0 0 0 rg BT 245.67 562.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.00 538.10 Td (W) Tj ET Q q 0 0 0 rg BT 94.64 538.10 Td (e ) Tj ET Q q 0 0 0 rg BT 101.58 538.10 Td (do ) Tj ET Q q 0 0 0 rg BT 114.08 538.10 Td (not ) Tj ET Q q 0 0 0 rg BT 129.35 538.10 Td (share ) Tj ET Q q 0 0 0 rg BT 152.95 538.10 Td (this ) Tj ET Q q 0 0 0 rg BT 169.90 538.10 Td (information ) Tj ET Q q 0 0 0 rg BT 219.61 538.10 Td (with ) Tj ET Q q 0 0 0 rg BT 239.89 538.10 Td (any ) Tj ET Q q 0 0 0 rg BT 256.83 538.10 Td (non-af) Tj ET Q q 0 0 0 rg BT 282.75 538.10 Td (filiated ) Tj ET Q q 0 0 0 rg BT 313.57 538.10 Td (third ) Tj ET Q q 0 0 0 rg BT 334.96 538.10 Td (party ) Tj ET Q q 0 0 0 rg BT 358.00 538.10 Td (except ) Tj ET Q q 0 0 0 rg BT 386.60 538.10 Td (as ) Tj ET Q q 0 0 0 rg BT 397.43 538.10 Td (described ) Tj ET Q q 0 0 0 rg BT 438.24 538.10 Td (below) Tj ET Q q 0 0 0 rg BT 462.03 538.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 514.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 514.10 Td (180 ) Tj ET Q q 0 0 0 rg BT 103.20 514.10 Td (Degree ) Tj ET Q q 0 0 0 rg BT 134.27 514.10 Td (Capital ) Tj ET Q q 0 0 0 rg BT 165.36 514.10 Td (Corp. ) Tj ET Q q 0 0 0 rg BT 190.06 514.10 Td (and ) Tj ET Q q 0 0 0 rg BT 206.71 514.10 Td (af) Tj ET Q q 0 0 0 rg BT 214.29 514.10 Td (filiate ) Tj ET Q q 0 0 0 rg BT 239.82 514.10 Td (employees. ) Tj ET Q q 0 0 0 rg BT 287.28 514.10 Td (It ) Tj ET Q q 0 0 0 rg BT 295.60 514.10 Td (is ) Tj ET Q q 0 0 0 rg BT 304.47 514.10 Td (our ) Tj ET Q q 0 0 0 rg BT 320.00 514.10 Td (policy ) Tj ET Q q 0 0 0 rg BT 347.20 514.10 Td (that ) Tj ET Q q 0 0 0 rg BT 364.40 514.10 Td (only ) Tj ET Q q 0 0 0 rg BT 384.38 514.10 Td (our ) Tj ET Q q 0 0 0 rg BT 399.92 514.10 Td (authorized ) Tj ET Q q 0 0 0 rg BT 444.32 514.10 Td (employees ) Tj ET Q q 0 0 0 rg BT 489.29 514.10 Td (who ) Tj ET Q q 0 0 0 rg BT 508.72 514.10 Td (need ) Tj ET Q q 0 0 0 rg BT 529.80 514.10 Td (to ) Tj ET Q q 0 0 0 rg BT 539.78 514.10 Td (know ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 502.10 Td (your ) Tj ET Q q 0 0 0 rg BT 106.45 502.10 Td (personal ) Tj ET Q q 0 0 0 rg BT 142.44 502.10 Td (information ) Tj ET Q q 0 0 0 rg BT 191.77 502.10 Td (will ) Tj ET Q q 0 0 0 rg BT 209.44 502.10 Td (have ) Tj ET Q q 0 0 0 rg BT 230.43 502.10 Td (access ) Tj ET Q q 0 0 0 rg BT 258.08 502.10 Td (to ) Tj ET Q q 0 0 0 rg BT 267.98 502.10 Td (it. ) Tj ET Q q 0 0 0 rg BT 278.15 502.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 295.82 502.10 Td (personnel ) Tj ET Q q 0 0 0 rg BT 336.81 502.10 Td (who ) Tj ET Q q 0 0 0 rg BT 356.15 502.10 Td (violate ) Tj ET Q q 0 0 0 rg BT 385.48 502.10 Td (our ) Tj ET Q q 0 0 0 rg BT 400.92 502.10 Td (privacy ) Tj ET Q q 0 0 0 rg BT 433.02 502.10 Td (policy ) Tj ET Q q 0 0 0 rg BT 460.13 502.10 Td (are ) Tj ET Q q 0 0 0 rg BT 474.46 502.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 504.90 502.10 Td (to ) Tj ET Q q 0 0 0 rg BT 514.79 502.10 Td (disciplinary ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 490.10 Td (action. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 466.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 466.10 Td (Service ) Tj ET Q q 0 0 0 rg BT 118.20 466.10 Td (Providers. ) Tj ET Q q 0 0 0 rg BT 161.09 466.10 Td (W) Tj ET Q q 0 0 0 rg BT 169.72 466.10 Td (e ) Tj ET Q q 0 0 0 rg BT 176.38 466.10 Td (may ) Tj ET Q q 0 0 0 rg BT 195.81 466.10 Td (disclose ) Tj ET Q q 0 0 0 rg BT 230.24 466.10 Td (your ) Tj ET Q q 0 0 0 rg BT 250.79 466.10 Td (personal ) Tj ET Q q 0 0 0 rg BT 286.88 466.10 Td (information ) Tj ET Q q 0 0 0 rg BT 336.31 466.10 Td (to ) Tj ET Q q 0 0 0 rg BT 346.30 466.10 Td (companies ) Tj ET Q q 0 0 0 rg BT 391.28 466.10 Td (that ) Tj ET Q q 0 0 0 rg BT 408.50 466.10 Td (provide ) Tj ET Q q 0 0 0 rg BT 441.26 466.10 Td (services ) Tj ET Q q 0 0 0 rg BT 475.68 466.10 Td (on ) Tj ET Q q 0 0 0 rg BT 487.90 466.10 Td (our ) Tj ET Q q 0 0 0 rg BT 503.44 466.10 Td (behalf, ) Tj ET Q q 0 0 0 rg BT 533.14 466.10 Td (such ) Tj ET Q q 0 0 0 rg BT 553.69 466.10 Td (as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 454.10 Td (record ) Tj ET Q q 0 0 0 rg BT 113.82 454.10 Td (keeping ) Tj ET Q q 0 0 0 rg BT 147.76 454.10 Td (and ) Tj ET Q q 0 0 0 rg BT 164.48 454.10 Td (mailing ) Tj ET Q q 0 0 0 rg BT 197.32 454.10 Td (you ) Tj ET Q q 0 0 0 rg BT 214.60 454.10 Td (information. ) Tj ET Q q 0 0 0 rg BT 266.43 454.10 Td (These ) Tj ET Q q 0 0 0 rg BT 292.60 454.10 Td (companies ) Tj ET Q q 0 0 0 rg BT 337.64 454.10 Td (are ) Tj ET Q q 0 0 0 rg BT 352.13 454.10 Td (required ) Tj ET Q q 0 0 0 rg BT 387.73 454.10 Td (to ) Tj ET Q q 0 0 0 rg BT 397.80 454.10 Td (protect ) Tj ET Q q 0 0 0 rg BT 427.84 454.10 Td (your ) Tj ET Q q 0 0 0 rg BT 448.46 454.10 Td (information ) Tj ET Q q 0 0 0 rg BT 497.95 454.10 Td (and ) Tj ET Q q 0 0 0 rg BT 514.68 454.10 Td (use ) Tj ET Q q 0 0 0 rg BT 530.29 454.10 Td (it ) Tj ET Q q 0 0 0 rg BT 538.13 454.10 Td (solely ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 442.10 Td (for ) Tj ET Q q 0 0 0 rg BT 100.16 442.10 Td (the ) Tj ET Q q 0 0 0 rg BT 114.88 442.10 Td (purpose ) Tj ET Q q 0 0 0 rg BT 149.04 442.10 Td (for ) Tj ET Q q 0 0 0 rg BT 163.20 442.10 Td (which ) Tj ET Q q 0 0 0 rg BT 190.14 442.10 Td (they ) Tj ET Q q 0 0 0 rg BT 209.85 442.10 Td (received ) Tj ET Q q 0 0 0 rg BT 246.21 442.10 Td (it.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 418.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 418.10 Td (Courts ) Tj ET Q q 0 0 0 rg BT 115.37 418.10 Td (and ) Tj ET Q q 0 0 0 rg BT 132.51 418.10 Td (Government ) Tj ET Q q 0 0 0 rg BT 185.19 418.10 Td (Of) Tj ET Q q 0 0 0 rg BT 195.56 418.10 Td (ficials. ) Tj ET Q q 0 0 0 rg BT 225.20 418.10 Td (If ) Tj ET Q q 0 0 0 rg BT 234.55 418.10 Td (required ) Tj ET Q q 0 0 0 rg BT 270.57 418.10 Td (by ) Tj ET Q q 0 0 0 rg BT 283.27 418.10 Td (law) Tj ET Q q 0 0 0 rg BT 297.06 418.10 Td (, ) Tj ET Q q 0 0 0 rg BT 302.26 418.10 Td (we ) Tj ET Q q 0 0 0 rg BT 316.62 418.10 Td (may ) Tj ET Q q 0 0 0 rg BT 336.53 418.10 Td (disclose ) Tj ET Q q 0 0 0 rg BT 371.45 418.10 Td (your ) Tj ET Q q 0 0 0 rg BT 392.48 418.10 Td (personal ) Tj ET Q q 0 0 0 rg BT 429.05 418.10 Td (information ) Tj ET Q q 0 0 0 rg BT 478.96 418.10 Td (in ) Tj ET Q q 0 0 0 rg BT 489.44 418.10 Td (accordance ) Tj ET Q q 0 0 0 rg BT 537.10 418.10 Td (with ) Tj ET Q q 0 0 0 rg BT 557.58 418.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 406.10 Td (court ) Tj ET Q q 0 0 0 rg BT 109.16 406.10 Td (order ) Tj ET Q q 0 0 0 rg BT 132.88 406.10 Td (or ) Tj ET Q q 0 0 0 rg BT 143.82 406.10 Td (at ) Tj ET Q q 0 0 0 rg BT 153.66 406.10 Td (the ) Tj ET Q q 0 0 0 rg BT 168.49 406.10 Td (request ) Tj ET Q q 0 0 0 rg BT 199.98 406.10 Td (of ) Tj ET Q q 0 0 0 rg BT 210.93 406.10 Td (government ) Tj ET Q q 0 0 0 rg BT 261.31 406.10 Td (regulators. ) Tj ET Q q 0 0 0 rg BT 306.41 406.10 Td (Only ) Tj ET Q q 0 0 0 rg BT 329.03 406.10 Td (that ) Tj ET Q q 0 0 0 rg BT 346.64 406.10 Td (information ) Tj ET Q q 0 0 0 rg BT 396.47 406.10 Td (required ) Tj ET Q q 0 0 0 rg BT 432.40 406.10 Td (by ) Tj ET Q q 0 0 0 rg BT 445.01 406.10 Td (law) Tj ET Q q 0 0 0 rg BT 458.80 406.10 Td (, ) Tj ET Q q 0 0 0 rg BT 463.92 406.10 Td (subpoena, ) Tj ET Q q 0 0 0 rg BT 506.80 406.10 Td (or ) Tj ET Q q 0 0 0 rg BT 517.75 406.10 Td (court ) Tj ET Q q 0 0 0 rg BT 540.91 406.10 Td (order ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.00 394.10 Td (will ) Tj ET Q q 0 0 0 rg BT 104.06 394.10 Td (be ) Tj ET Q q 0 0 0 rg BT 116.00 394.10 Td (disclosed.) Tj ET Q 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 1 J 1 j 3 M 50 372.1 m 562 372.1 l s BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 278.15 346.10 Td (Pr) Tj ET Q q 0 0 0 rg BT 288.52 346.10 Td (oxy ) Tj ET Q q 0 0 0 rg BT 305.84 346.10 Td (V) Tj ET Q q 0 0 0 rg BT 312.14 346.10 Td (oting) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.10 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.64 322.10 Td (e ) Tj ET Q q 0 0 0 rg BT 65.16 322.10 Td (vote ) Tj ET Q q 0 0 0 rg BT 84.45 322.10 Td (proxies ) Tj ET Q q 0 0 0 rg BT 115.97 322.10 Td (relating ) Tj ET Q q 0 0 0 rg BT 148.59 322.10 Td (to ) Tj ET Q q 0 0 0 rg BT 158.45 322.10 Td (our ) Tj ET Q q 0 0 0 rg BT 173.86 322.10 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 210.94 322.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 250.78 322.10 Td (in ) Tj ET Q q 0 0 0 rg BT 260.64 322.10 Td (the ) Tj ET Q q 0 0 0 rg BT 274.94 322.10 Td (best ) Tj ET Q q 0 0 0 rg BT 293.13 322.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 324.64 322.10 Td (of ) Tj ET Q q 0 0 0 rg BT 335.05 322.10 Td (our ) Tj ET Q q 0 0 0 rg BT 350.46 322.10 Td (shareholders. ) Tj ET Q q 0 0 0 rg BT 405.43 322.10 Td (W) Tj ET Q q 0 0 0 rg BT 414.06 322.10 Td (e ) Tj ET Q q 0 0 0 rg BT 420.58 322.10 Td (review ) Tj ET Q q 0 0 0 rg BT 449.87 322.10 Td (on ) Tj ET Q q 0 0 0 rg BT 461.95 322.10 Td (a ) Tj ET Q q 0 0 0 rg BT 468.47 322.10 Td (case-by-case ) Tj ET Q q 0 0 0 rg BT 521.62 322.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 543.70 322.10 Td (each ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (proposal ) Tj ET Q q 0 0 0 rg BT 86.47 310.10 Td (submitted ) Tj ET Q q 0 0 0 rg BT 127.94 310.10 Td (to ) Tj ET Q q 0 0 0 rg BT 137.75 310.10 Td (a ) Tj ET Q q 0 0 0 rg BT 144.22 310.10 Td (shareholder ) Tj ET Q q 0 0 0 rg BT 192.90 310.10 Td (vote ) Tj ET Q q 0 0 0 rg BT 212.15 310.10 Td (to ) Tj ET Q q 0 0 0 rg BT 221.96 310.10 Td (determine ) Tj ET Q q 0 0 0 rg BT 263.97 310.10 Td (its ) Tj ET Q q 0 0 0 rg BT 275.45 310.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 304.69 310.10 Td (on ) Tj ET Q q 0 0 0 rg BT 316.72 310.10 Td (the ) Tj ET Q q 0 0 0 rg BT 330.97 310.10 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 368.00 310.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 407.79 310.10 Td (held ) Tj ET Q q 0 0 0 rg BT 427.04 310.10 Td (by ) Tj ET Q q 0 0 0 rg BT 439.07 310.10 Td (us. ) Tj ET Q q 0 0 0 rg BT 452.05 310.10 Td (Although ) Tj ET Q q 0 0 0 rg BT 491.86 310.10 Td (we ) Tj ET Q q 0 0 0 rg BT 505.55 310.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 544.78 310.10 Td (vote ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.10 Td (against ) Tj ET Q q 0 0 0 rg BT 81.48 298.10 Td (proposals ) Tj ET Q q 0 0 0 rg BT 122.97 298.10 Td (that ) Tj ET Q q 0 0 0 rg BT 141.13 298.10 Td (may ) Tj ET Q q 0 0 0 rg BT 161.50 298.10 Td (have ) Tj ET Q q 0 0 0 rg BT 183.54 298.10 Td (a ) Tj ET Q q 0 0 0 rg BT 191.13 298.10 Td (negative ) Tj ET Q q 0 0 0 rg BT 228.16 298.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 258.53 298.10 Td (on ) Tj ET Q q 0 0 0 rg BT 271.69 298.10 Td (our ) Tj ET Q q 0 0 0 rg BT 288.18 298.10 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 326.33 298.10 Td (securities, ) Tj ET Q q 0 0 0 rg BT 369.75 298.10 Td (we ) Tj ET Q q 0 0 0 rg BT 384.57 298.10 Td (may ) Tj ET Q q 0 0 0 rg BT 404.95 298.10 Td (vote ) Tj ET Q q 0 0 0 rg BT 425.32 298.10 Td (for ) Tj ET Q q 0 0 0 rg BT 440.14 298.10 Td (such ) Tj ET Q q 0 0 0 rg BT 461.63 298.10 Td (a ) Tj ET Q q 0 0 0 rg BT 469.23 298.10 Td (proposal ) Tj ET Q q 0 0 0 rg BT 506.82 298.10 Td (if ) Tj ET Q q 0 0 0 rg BT 516.09 298.10 Td (there ) Tj ET Q q 0 0 0 rg BT 539.23 298.10 Td (exists ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.10 Td (compelling ) Tj ET Q q 0 0 0 rg BT 97.49 286.10 Td (long-term ) Tj ET Q q 0 0 0 rg BT 139.42 286.10 Td (reasons ) Tj ET Q q 0 0 0 rg BT 171.91 286.10 Td (to ) Tj ET Q q 0 0 0 rg BT 182.19 286.10 Td (do ) Tj ET Q q 0 0 0 rg BT 194.69 286.10 Td (so.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 67.87 262.10 Td (proxy ) Tj ET Q q 0 0 0 rg BT 93.53 262.10 Td (voting ) Tj ET Q q 0 0 0 rg BT 121.40 262.10 Td (decisions ) Tj ET Q q 0 0 0 rg BT 160.94 262.10 Td (are ) Tj ET Q q 0 0 0 rg BT 175.47 262.10 Td (made ) Tj ET Q q 0 0 0 rg BT 199.45 262.10 Td (by ) Tj ET Q q 0 0 0 rg BT 211.77 262.10 Td (our ) Tj ET Q q 0 0 0 rg BT 227.42 262.10 Td (Portfolio ) Tj ET Q q 0 0 0 rg BT 265.30 262.10 Td (Managers, ) Tj ET Q q 0 0 0 rg BT 309.55 262.10 Td (who ) Tj ET Q q 0 0 0 rg BT 329.09 262.10 Td (are ) Tj ET Q q 0 0 0 rg BT 343.62 262.10 Td (responsible ) Tj ET Q q 0 0 0 rg BT 391.49 262.10 Td (for ) Tj ET Q q 0 0 0 rg BT 405.47 262.10 Td (monitoring ) Tj ET Q q 0 0 0 rg BT 452.24 262.10 Td (each ) Tj ET Q q 0 0 0 rg BT 472.88 262.10 Td (of ) Tj ET Q q 0 0 0 rg BT 483.53 262.10 Td (our ) Tj ET Q q 0 0 0 rg BT 499.18 262.10 Td (investments. ) Tj ET Q q 0 0 0 rg BT 551.61 262.10 Td (T) Tj ET Q q 0 0 0 rg BT 557.02 262.10 Td (o ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.10 Td (ensure ) Tj ET Q q 0 0 0 rg BT 78.28 250.10 Td (that ) Tj ET Q q 0 0 0 rg BT 95.46 250.10 Td (our ) Tj ET Q q 0 0 0 rg BT 110.98 250.10 Td (vote ) Tj ET Q q 0 0 0 rg BT 130.38 250.10 Td (is ) Tj ET Q q 0 0 0 rg BT 139.23 250.10 Td (not ) Tj ET Q q 0 0 0 rg BT 154.19 250.10 Td (the ) Tj ET Q q 0 0 0 rg BT 168.59 250.10 Td (product ) Tj ET Q q 0 0 0 rg BT 201.33 250.10 Td (of ) Tj ET Q q 0 0 0 rg BT 211.84 250.10 Td (a ) Tj ET Q q 0 0 0 rg BT 218.46 250.10 Td (conflict ) Tj ET Q q 0 0 0 rg BT 251.19 250.10 Td (of ) Tj ET Q q 0 0 0 rg BT 261.70 250.10 Td (interest, ) Tj ET Q q 0 0 0 rg BT 295.82 250.10 Td (we ) Tj ET Q q 0 0 0 rg BT 309.66 250.10 Td (require ) Tj ET Q q 0 0 0 rg BT 340.16 250.10 Td (that: ) Tj ET Q q 0 0 0 rg BT 360.12 250.10 Td (\(i\) ) Tj ET Q q 0 0 0 rg BT 371.74 250.10 Td (anyone ) Tj ET Q q 0 0 0 rg BT 402.80 250.10 Td (involved ) Tj ET Q q 0 0 0 rg BT 439.98 250.10 Td (in ) Tj ET Q q 0 0 0 rg BT 449.95 250.10 Td (the ) Tj ET Q q 0 0 0 rg BT 464.35 250.10 Td (decision ) Tj ET Q q 0 0 0 rg BT 499.86 250.10 Td (making ) Tj ET Q q 0 0 0 rg BT 532.04 250.10 Td (process ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.10 Td (disclose ) Tj ET Q q 0 0 0 rg BT 84.84 238.10 Td (to ) Tj ET Q q 0 0 0 rg BT 95.24 238.10 Td (our ) Tj ET Q q 0 0 0 rg BT 111.19 238.10 Td (Chief ) Tj ET Q q 0 0 0 rg BT 136.03 238.10 Td (Compliance ) Tj ET Q q 0 0 0 rg BT 186.97 238.10 Td (Of) Tj ET Q q 0 0 0 rg BT 197.34 238.10 Td (ficer ) Tj ET Q q 0 0 0 rg BT 218.28 238.10 Td (any ) Tj ET Q q 0 0 0 rg BT 235.34 238.10 Td (potential ) Tj ET Q q 0 0 0 rg BT 272.95 238.10 Td (conflict ) Tj ET Q q 0 0 0 rg BT 306.12 238.10 Td (that ) Tj ET Q q 0 0 0 rg BT 323.74 238.10 Td (he ) Tj ET Q q 0 0 0 rg BT 335.80 238.10 Td (or ) Tj ET Q q 0 0 0 rg BT 346.75 238.10 Td (she ) Tj ET Q q 0 0 0 rg BT 362.70 238.10 Td (is ) Tj ET Q q 0 0 0 rg BT 371.99 238.10 Td (aware ) Tj ET Q q 0 0 0 rg BT 398.48 238.10 Td (of ) Tj ET Q q 0 0 0 rg BT 409.43 238.10 Td (and ) Tj ET Q q 0 0 0 rg BT 426.49 238.10 Td (any ) Tj ET Q q 0 0 0 rg BT 443.55 238.10 Td (contact ) Tj ET Q q 0 0 0 rg BT 475.05 238.10 Td (that ) Tj ET Q q 0 0 0 rg BT 492.67 238.10 Td (he ) Tj ET Q q 0 0 0 rg BT 504.73 238.10 Td (or ) Tj ET Q q 0 0 0 rg BT 515.68 238.10 Td (she ) Tj ET Q q 0 0 0 rg BT 531.63 238.10 Td (has ) Tj ET Q q 0 0 0 rg BT 547.58 238.10 Td (had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (with ) Tj ET Q q 0 0 0 rg BT 69.53 226.10 Td (any ) Tj ET Q q 0 0 0 rg BT 85.72 226.10 Td (interested ) Tj ET Q q 0 0 0 rg BT 126.34 226.10 Td (party ) Tj ET Q q 0 0 0 rg BT 148.64 226.10 Td (regarding ) Tj ET Q q 0 0 0 rg BT 188.70 226.10 Td (a ) Tj ET Q q 0 0 0 rg BT 194.89 226.10 Td (proxy ) Tj ET Q q 0 0 0 rg BT 219.97 226.10 Td (vote; ) Tj ET Q q 0 0 0 rg BT 241.72 226.10 Td (and ) Tj ET Q q 0 0 0 rg BT 257.91 226.10 Td (\(ii\) ) Tj ET Q q 0 0 0 rg BT 271.88 226.10 Td (employees ) Tj ET Q q 0 0 0 rg BT 316.39 226.10 Td (involved ) Tj ET Q q 0 0 0 rg BT 353.13 226.10 Td (in ) Tj ET Q q 0 0 0 rg BT 362.66 226.10 Td (the ) Tj ET Q q 0 0 0 rg BT 376.63 226.10 Td (decision ) Tj ET Q q 0 0 0 rg BT 411.71 226.10 Td (making ) Tj ET Q q 0 0 0 rg BT 443.45 226.10 Td (process ) Tj ET Q q 0 0 0 rg BT 475.19 226.10 Td (or ) Tj ET Q q 0 0 0 rg BT 485.27 226.10 Td (vote ) Tj ET Q q 0 0 0 rg BT 504.24 226.10 Td (administration ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (are ) Tj ET Q q 0 0 0 rg BT 65.29 214.10 Td (prohibited ) Tj ET Q q 0 0 0 rg BT 109.47 214.10 Td (from ) Tj ET Q q 0 0 0 rg BT 131.99 214.10 Td (revealing ) Tj ET Q q 0 0 0 rg BT 172.28 214.10 Td (how ) Tj ET Q q 0 0 0 rg BT 192.58 214.10 Td (we ) Tj ET Q q 0 0 0 rg BT 207.32 214.10 Td (intend ) Tj ET Q q 0 0 0 rg BT 235.40 214.10 Td (to ) Tj ET Q q 0 0 0 rg BT 246.25 214.10 Td (vote ) Tj ET Q q 0 0 0 rg BT 266.55 214.10 Td (on ) Tj ET Q q 0 0 0 rg BT 279.63 214.10 Td (a ) Tj ET Q q 0 0 0 rg BT 287.15 214.10 Td (proposal ) Tj ET Q q 0 0 0 rg BT 324.67 214.10 Td (in ) Tj ET Q q 0 0 0 rg BT 335.53 214.10 Td (order ) Tj ET Q q 0 0 0 rg BT 359.71 214.10 Td (to ) Tj ET Q q 0 0 0 rg BT 370.57 214.10 Td (reduce ) Tj ET Q q 0 0 0 rg BT 400.30 214.10 Td (any ) Tj ET Q q 0 0 0 rg BT 417.82 214.10 Td (attempted ) Tj ET Q q 0 0 0 rg BT 460.33 214.10 Td (influence ) Tj ET Q q 0 0 0 rg BT 500.61 214.10 Td (from ) Tj ET Q q 0 0 0 rg BT 523.13 214.10 Td (interested ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (parties.) 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Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.10 Td () Tj ET Q 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 1 J 1 j 3 M 50 132.10000000000002 m 562 132.10000000000002 l s BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 266.65 106.10 Td (Portfolio Holdings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.92 82.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 109.17 82.10 Td (files ) Tj ET Q q 0 0 0 rg BT 128.76 82.10 Td (its ) Tj ET Q q 0 0 0 rg BT 140.58 82.10 Td (complete ) Tj ET Q q 0 0 0 rg BT 179.60 82.10 Td (schedule ) Tj ET Q q 0 0 0 rg BT 216.95 82.10 Td (of ) Tj ET Q q 0 0 0 rg BT 227.65 82.10 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 265.02 82.10 Td (holdings ) Tj ET Q q 0 0 0 rg BT 301.83 82.10 Td (with ) Tj ET Q q 0 0 0 rg BT 321.98 82.10 Td (the ) Tj ET Q q 0 0 0 rg BT 336.57 82.10 Td (SEC ) Tj ET Q q 0 0 0 rg BT 357.28 82.10 Td (for ) Tj ET Q q 0 0 0 rg BT 371.31 82.10 Td (the ) Tj ET Q q 0 0 0 rg BT 385.89 82.10 Td (first ) Tj ET Q q 0 0 0 rg BT 404.37 82.10 Td (and ) Tj ET Q q 0 0 0 rg BT 421.18 82.10 Td (third ) Tj ET Q q 0 0 0 rg BT 442.44 82.10 Td (quarters ) Tj ET Q q 0 0 0 rg BT 477.01 82.10 Td (of ) Tj ET Q q 0 0 0 rg BT 487.71 82.10 Td (each ) Tj ET Q q 0 0 0 rg BT 508.40 82.10 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 532.42 82.10 Td (year ) Tj ET Q q 0 0 0 rg BT 552.00 82.10 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 70.10 Td (Form ) Tj ET Q q 0 0 0 rg BT 73.67 70.10 Td (N-Q. ) Tj ET Q q 0 0 0 rg BT 95.79 70.10 Td (The ) Tj ET Q q 0 0 0 rg BT 113.33 70.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 159.91 70.10 Td (Forms ) Tj ET Q q 0 0 0 rg BT 187.47 70.10 Td (N-Q ) Tj ET Q q 0 0 0 rg BT 207.24 70.10 Td (are ) Tj ET Q q 0 0 0 rg BT 221.44 70.10 Td (available ) Tj ET Q q 0 0 0 rg BT 259.53 70.10 Td (on ) Tj ET Q q 0 0 0 rg BT 271.52 70.10 Td (the ) Tj ET Q q 0 0 0 rg BT 285.73 70.10 Td (SEC's ) Tj ET Q q 0 0 0 rg BT 311.76 70.10 Td (website ) Tj ET Q q 0 0 0 rg BT 344.31 70.10 Td (at ) Tj ET Q q 0 0 0 rg BT 353.52 70.10 Td (http://www) Tj ET Q q 0 0 0 rg BT 398.43 70.10 Td (.sec.gov ) Tj ET Q q 0 0 0 rg BT 433.19 70.10 Td (and ) Tj ET Q q 0 0 0 rg BT 449.63 70.10 Td (may ) Tj ET Q q 0 0 0 rg BT 468.84 70.10 Td (be ) Tj ET Q q 0 0 0 rg BT 480.27 70.10 Td (reviewed ) Tj ET Q q 0 0 0 rg BT 518.92 70.10 Td (and ) Tj ET Q q 0 0 0 rg BT 535.35 70.10 Td (copied ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 58.10 Td (at ) Tj ET Q q 0 0 0 rg BT 60.30 58.10 Td (the ) Tj ET Q q 0 0 0 rg BT 75.60 58.10 Td (SEC's ) Tj ET Q q 0 0 0 rg BT 102.71 58.10 Td (Public ) Tj ET Q q 0 0 0 rg BT 131.35 58.10 Td (Reference ) Tj ET Q q 0 0 0 rg BT 174.96 58.10 Td (Room ) Tj ET Q q 0 0 0 rg BT 202.49 58.10 Td (in ) Tj ET Q q 0 0 0 rg BT 213.13 58.10 Td (W) Tj ET Q q 0 0 0 rg BT 221.76 58.10 Td (ashington ) Tj ET Q q 0 0 0 rg BT 263.73 58.10 Td (D.C. ) Tj ET Q q 0 0 0 rg BT 285.71 58.10 Td (Information ) Tj ET Q q 0 0 0 rg BT 336.55 58.10 Td (on ) Tj ET Q q 0 0 0 rg BT 349.64 58.10 Td (the ) Tj ET Q q 0 0 0 rg BT 364.94 58.10 Td (operation ) Tj ET Q q 0 0 0 rg BT 405.78 58.10 Td (of ) Tj ET Q q 0 0 0 rg BT 417.19 58.10 Td (the ) Tj ET Q q 0 0 0 rg BT 432.49 58.10 Td (Public ) Tj ET Q q 0 0 0 rg BT 461.13 58.10 Td (Reference ) Tj ET Q q 0 0 0 rg BT 504.74 58.10 Td (Room ) Tj ET Q q 0 0 0 rg BT 532.27 58.10 Td (may ) Tj ET Q q 0 0 0 rg BT 552.57 58.10 Td (be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 46.10 Td (obtained ) Tj ET Q q 0 0 0 rg BT 86.93 46.10 Td (by ) Tj ET Q q 0 0 0 rg BT 99.43 46.10 Td (calling ) Tj ET Q q 0 0 0 rg BT 129.15 46.10 Td (1-800-SEC-0330. ) Tj ET Q q 0 0 0 rg BT 202.48 46.10 Td ( ) Tj ET Q endstream endobj 105 0 obj <> endobj 106 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (52) Tj ET Q 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 1 J 1 j 3 M 50 744.1 m 562 744.1 l s BT /F1 10.00 Tf ET BT /F2 12.00 Tf ET q 0 0 0 rg BT 240.75 713.30 Td (180 Degr) Tj ET Q q 0 0 0 rg BT 286.85 713.30 Td (ee Capital Corp.) 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