1emplaLe SLarLup llnanclal Model

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MosL recenLly updaLed november 4 2011
lnsLrucLlons
Model Loglc
lf you have feedback on Lhe model conLacL lnfo[LeLencom We are very lnLeresLed ln suggesLed
addlLlonal lmprovemenLs and wlll Lry Lo reflecL Lhem Powever we cannoL provlde you wlLh user
supporL
1hls model was developed by 8odl 8lokh ln assoclaLlon wlLh ff venLure CaplLal (wwwffvenLurecom)
based on a sanlLlzed verslon of a flnanclal model developed by uavld 1eLen (wwwLeLencom) for Lhe
sLarLups he has run 8odl ls a 8erkeley M8A sLudenL (Paas M8A 13) and former corporaLe banker aL
8ank of Amerlca Merrlll Lynch (rblokh[gmallcom) uavld ls a arLner aL ff venLure CaplLal Chalr of
Parvard 8uslness School Angels of CreaLer new ?ork and former 8ear SLearns lnvesLmenL banker
(lnfo[LeLencom) 1hank you Lo Adam kalamchl (Columbla M8A '13) for some lnlLlal lnpuL on Lhls
model
ffvenLurecom
[ffvenLure
@dteten
ff Venture Cap|ta|
We developed Lhls model as a slmple endLoend flnanclal model for an earlysLage sLarLup
alLhough lL ls useful Lo anyone bulldlng a model for a company 1he model ouLpuLs sLandard
flnanclal sLaLemenLs and key operaLlng meLrlcs based on a wlde range of user lnpuLs and ls hlghly
cusLomlzable and enLlrely LransparenL
8evenues ln Lhe model are arblLrarlly assumed Lo be based prlmarlly on employee headcounL
Powever Lhls ls cerLalnly noL an accuraLe approach for all venLures and ln facL as venLure caplLallsLs
we prefer companles ln whlch Lhe correlaLlon beLween headcounL and revenues ls very low A
separaLe row labeled CLher 8evenues may be more relevanL for modellng revenue pro[ecLlons for
your parLlcular company
nonlnpuL cells should noL be alLered by lnexperlenced users Cell A4 on Lhe Model Lab acLs as a
check of Lhe model and wlll dlsplay an error message lf Lhe model loglc ls broken 1hls error
message LesLs for mosL buL deflnlLely noL all posslble errors
1o add personnel add addlLlonal rows ln Lhe ersonnel AssumpLlons secLlon SelecL Lhe columns
where an employee sLarLs Lo correspond wlLh personnel hlrlng Llmlng
1he WACC secLlon on Lhe valuaLlon Lab and Lhe enLlre lundlng 8ounds Lab ls lndependenL of Lhe
Model and requlres lndependenL lnpuLs
Cllck on Lhe Model valuaLlon and lundlng 8ounds Labs and lnpuL relevanL daLa All lnpuL cells
are hlghllghLed yellow wlLh bluecolored LexL
1he defaulL approach Lo cash shorLfalls ls a drawdown of Lhe revolver accounL lor mosL earlysLage
sLarLups Lhe company doesnL have a bank revolver buL uses Lhe prlnclpals credlL cards as a de
facLo revolver 1hls accounL has no max llmlL ln Lhe model
1he model uLlllzes a cash flow sweep Any excess cash flow afLer dlvldends and mlnlmum cash
balance ls applled Lo repaymenL of Lhe revolver accounL Any addlLlonal cash ls applled Lo Lhe
balance sheeL cash balance ?ou can manually make assumpLlons abouL dlvldends as you wlsh buL
we assume dlvldends are zero ln perpeLulLy
SLralghLllne depreclaLlon ls based on Lhe average useful llfe of flxed asseLs
AccounLs recelvable ls based on an assumpLlon of days sales ouLsLandlng
AccounLs payable ls based on an assumpLlon of days payables ouLsandlng
We have bullL ln an auLomaLlc carryforward for Lax losses
1hls model assumes sLandard LaxaLlon for a CCorporaLlon uslng neL operaLlng loss carryforwards
and a 40 Lax raLe lf you sLrucLure Lhe company as an LLC noLe LhaL LLCs do noL pay corporaLe Lax
unless Lhey elecL Lo (whlch ls unllkely) Powever Lhe owners of Lhe LLC (when comblned wlLh Lhe
underlylng asseL) would face a slmllar flnanclal envlronmenL Lo LhaL of a convenLlonal corporaLlon
so Lhls model ls sLlll appllcable even lf Lhe enLlLy ls an LLC
1he model calculaLes lnLeresL lncome and lnLeresL expense uslng beglnnlng balances for Lhe perlod
only 1he formula applled ls (2 x 8eglnnlng 8alance x 8aLe) / (2 8aLe)
1he model LreaLs all lnLeresL raLe assumpLlons as nomlnal lnLeresL raLes glven Lhls ls Lyplcally Lhe
lnLeresL raLe quoLed by lendlng lnsLlLuLlons Lo small buslness enLrepreneurs for revolvers (credlL
cards) and bank loans As such we converL Lhe annual lnLeresL raLe lnLo a monLhly lnLeresL raLe
uslng Lhe formula 8aLe / 12 lf Lhe lnLeresL raLe belng used ls an effecLlve lnLeresL raLe Lhe monLhly
lnLeresL raLe calculaLlon should be ad[usLed Lo (1 + 8aLe) (1/12) 1
Any dlscrepancy ln asseLs vs llablllLles and sLockholders equlLy aL day 1 ls applled Lo Lhe revolver
accounL
ff Venture Cap|ta| StartupCo I|nanc|a| Mode|
(lo wbole u5u ossomes oo loflotloo)
Mode/ /oqic correct/y functioninq ec11 Ian12 Ieb12 Mar12
8ackground AssumpLlons
Company name SLarLupCo
Annual nomlnal lnLeresL 8aLe earned on Cash 03 00 00 00
Annual nomlnal lnLeresL 8aLe on ShorL1erm uebL 33 03 03 03
Annual nomlnal lnLeresL 8aLe on Long1erm uebL 33 03 03 03
rlnclpal aymenLs on L1u as a of L1u 00 00 00
lederal 1ax 8aLe 330 330 330
SLaLe 1ax 8aLe 30 30 30
# of uays Sales CuLsLandlng 13 13 13
# of uays ayables CuLsLandlng 30 30 30
# of uays lnvenLory CuLsLandlng 30 30 30
Average useful Llfe of Cross L ln ?ears 3
lnvesLmenL and 8evolver AssumpLlons
SLarLlng CaplLal 23000
SubsequenL lnvesLmenLs
Mlnlmum # MonLhs ayroll needed ln Cash 2
Mlnlmum Cash 83438 83438 83438
ersonnel AssumpLlons
Sen|or Management Compensat|on 8ase Annual Salary 8eneflLs
CLC 173000 230 18229 18229 18229
C1C 130000 230
CLher 00
CLher 00
CLher 00
CLher 00
CLher 00
1oLal Senlor ManagemenL Salarles 8eneflLs 18229 18229 18229
1oLal Senlor ManagemenL PeadcounL 1 1 1
8us|ness eve|opment Compensat|on 8ase Annual Salary 8eneflLs
Manager 73000 230 7813 7813 7813
AssoclaLe 33000 100
AssoclaLe 33000 100
AssoclaLe 33000 100
AssoclaLe 33000 100
CLher 00
CLher 00
1oLal 8uslness uevelopmenL Salarles 8eneflLs 7813 7813 7813
1oLal 8uslness uevelopmenL PeadcounL 1 1 1
Sa|es Compensat|on 8ase Annual Salary 8eneflLs
Manager 60000 230
Salesperson 30000 130
Salesperson 30000 130
CLher 00
CLher 00
CLher 00
CLher 00
1oLal Salesperson Salarles 8eneflLs
1oLal Salesperson PeadcounL
Market|ng Compensat|on 8ase Annual Salary 8eneflLs
Manager 73000 230
AssoclaLe 30000 100
CLher 00
CLher 00
CLher 00
CLher 00
CLher 00
1oLal MarkeLlng Salarles 8eneflLs
1oLal MarkeLlng PeadcounL
@ Compensat|on 8ase Annual Salary 8eneflLs
Manager 80000 230
ueveloper 70000 100
ueveloper 70000 100
CLher 00
CLher 00
CLher 00
CLher 00
1oLal l1 Salarles 8eneflLs
1oLal l1 PeadcounL
Cther Compensat|on 8ase Annual Salary 8eneflLs
Legal SupporL 123000 230 13021 13021 13021
llnance AssoclaLe 43000 130
P8 AssoclaLe 43000 100
Compllance AssoclaLe 43000 100
AdmlnlsLraLor 40000 100 3667 3667 3667
CLher 00
CLher 00
1oLal CLher Salarles 8eneflLs 16688 16688 16688
1oLal CLher PeadcounL 2 2 2
@ota| Sa|ar|es 8enef|ts 42729 42729 42729
@ota| neadcount 4 4 4
lncome SLaLemenL
8evenues per 8us uev Lmployee 1000 1000 1000
8evenues per Salesperson
CLher 8evenues
@ota| kevenues 1000 1000 1000
CosL of Coods Sold
1oLal 8uslness uevelopmenL Salarles 8eneflLs (7813) (7813) (7813)
CLher CosLs of Coods Sold (1300) (1300) (1300)
@ota| Cost of Goods So|d (9313) (9313) (9313)
of keveooes 9J1J 9J1J 9J1J
Gross ncome (8313) (8313) (8313)
of keveooes (8J1J) (8J1J) (8J1J)
Sales MarkeLlng Lxpenses
1oLal Salesperson Salarles 8eneflLs
1oLal MarkeLlng Salarles 8eneflLs
ubllc 8elaLlons (230) (230) (230)
AdverLlslng (300) (300) (300)
CLher Sales MarkeLlng Lxpenses (230) (230) (230)
1oLal Sales MarkeLlng Lxpenses (1000) (1000) (1000)
of keveooes 1000 1000 1000
Ceneral AdmlnlsLraLlve Lxpenses
1oLal Senlor ManagemenL Salarles 8eneflLs (18229) (18229) (18229)
1oLal l1 Salarles 8eneflLs
1oLal CLher Salarles 8eneflLs (16688) (16688) (16688)
8enL Lxpenses (1300) (1300) (1300)
uLlllLles Lxpenses (730) (730) (730)
CLher
CLher
CLher
CLher
CLher
1oLal Ceneral AdmlnlsLraLlve Lxpenses (37167) (37167) (37167)
of keveooes J7167 J7167 J7167
uepreclaLlon Lxpense (1073) (1133) (1192)
@ota| Cperat|ng Lxpenses (39242) (39300) (393S8)
Cperat|ng ncome (47SS4) (47613) (47671)
of keveooes (47554) (4761J) (47671)
L8@ (46479) (46479) (46479)
of keveooes (46479) (46479) (46479)
lnLeresL Lxpense (337) (303) (630)
lnLeresL lncome 48 72 93
9re@ax 9rof|t (Loss) (47843) (48044) (48228)
of keveooes (4784J) (48044) (48228)
Add (SubLracL) Lo 1ax Loss Carryforward 47843 48044 48228
1axable lncome (Loss)
1ax Lxpense
-et ncome (47843) (48044) (48228)
of keveooes (4784J) (48044) (48228)
8alance SheeL
ssets
Cash 100000 83438 83438 83438
AccounLs 8ecelvable 300 300 300
lnvenLory 300 9313 9313 9313
100S00 9S271 9S271 9S271
Cross L 30000 64300 68000 71300
AccumulaLed uepreclaLlon (1073) (2208) (3400)
-et 99L S0000 6342S 6S792 68100
lnLanglbles
@ota| ssets 1S0S00 1S8696 161063 163371
L|ab|||t|es Shareho|ders Lqu|ty
8evolver (ShorL1erm uebL) 113300 172227 222637 273174
AccounLs ayable 10000 9313 9313 9313
@ota| Current L|ab|||t|es 12SS00 181S39 2319S0 282486
Long1erm uebL
@ota| L|ab|||t|es 12SS00 181S39 2319S0 282486
aldln CaplLal 23000 23000 23000 23000
8eLalned Larnlngs (47843) (93887) (144116)
@ota| Shareho|ders Lqu|ty 2S000 (22843) (70887) (119116)
@ota| L|ab|||t|es Shareho|ders Lqu|ty 1S0S00 1S8696 161063 163371
olooce 5beet cbeck Ok Ok Ok Ok
Cff8alance SheeL lLems
1ax Loss Carryforward 47843 93887 144116
Cash llow SLaLemenL
Cash llow from (Lo) CperaLlons
neL lncome (47843) (48044) (48228)
uepreclaLlon Lxpense 1073 1133 1192
Change ln A/8 (300)
Change ln A/ (688)
Change ln lnvenLory (8813)
Change ln lnLanglbles
@ota| Cash I|ow from (to) Cperat|ons (S6768) (46910) (47037)
Cash llow from (Lo) lnvesLlng
WorksLaLlons (CompuLers uesks) (6000)
1echnology LqulpmenL (3000)
CLher Mlscellaneous lLems (3300) (3300) (3300)
@ota| Cash I|ow from (to) nvest|ng (14S00) (3S00) (3S00)
Cash llow from (Lo) llnanclng
8evolver lssuance / (8epaymenL) 36727 30410 30337
Long1erm uebL lssuance / (8epaymenL)
new LqulLy lnvesLmenLs
ulvldends
@ota| Cash I|ow from (to) I|nanc|ng S6727 S0410 S0S37
8eg|nn|ng Cash 100000 8S4S8 8S4S8
Change ln Cash (14342)
Lnd|ng Cash 100000 8S4S8 8S4S8 8S4S8
uebL
Cash I|ow ava||ab|e for I|nanc|ng (71268) (S0410) (S0S37)
new LqulLy lnvesLmenLs
ulvldends
8eglnnlng Cash 100000 83438 83438
Mlnlmum Cash (83438) (83438) (83438)
Cash I|ow ava||ab|e for ebt kepayment (S6727) (S0410) (S0S37)
Long1erm uebL lssuance / (8epaymenL)
Cash I|ow ava||ab|e for kevo|ver kepayment (S6727) (S0410) (S0S37)
Long1erm uebL 8eglnnlng 8alance
Long1erm uebL lssuance / (8epaymenL)
Long@erm ebt Lnd|ng 8a|ance
Long1erm uebL lnLeresL Lxpense
8evolver 8eglnnlng 8alance 113300 172227 222637
8evolver lssuance / (8epaymenL) 36727 30410 30337
kevo|ver Lnd|ng 8a|ance 11SS00 172227 222637 273174
8evolver lnLeresL Lxpense 337 303 630
Summary
1oLal 8evenues 1000 1000 1000
1oLal CosL of Coods Sold (9313) (9313) (9313)
1oLal CperaLlng Lxpenses (39242) (39300) (39338)
L8l1uA (46479) (46479) (46479)
lnLeresL Lxpense (337) (303) (630)
neL lncome (47843) (48044) (48228)
Cash 83438 83438 83438
1oLal AsseLs 138696 161063 163371
8evolver (ShorL1erm uebL) 172227 222637 273174
Long1erm uebL
1oLal Shareholders LqulLy (22843) (70887) (119116)
nv based on Lermlnal year 3 (133317)
nv based on Lermlnal year 3 7661233
1oLal PeadcounL 4 4 4
1oLal Salarles 8eneflLs 42729 42729 42729
pr12 May12 Iun12 Iu|12 ug12 Sep12 Cct12 -ov12 ec12 Ian13
00 00 00 00 00 00 00 00 00 00
03 03 03 03 03 03 03 03 03 03
03 03 03 03 03 03 03 03 03 03
00 00 00 00 00 00 00 00 00 00
330 330 330 330 330 330 330 330 330 330
30 30 30 30 30 30 30 30 30 30
13 13 13 13 13 13 13 13 13 13
30 30 30 30 30 30 30 30 30 30
30 30 30 30 30 30 30 30 30 30
400000
83438 83438 129896 174333 174333 174333 174333 174333 193834 217373
18229 18229 18229 18229 18229 18229 18229 18229 18229 18229
13623 13623 13623 13623 13623 13623 13623





18229 18229 18229 33834 33834 33834 33834 33834 33834 33834
1 1 1 2 2 2 2 2 2 2
7813 7813 7813 7813 7813 7813 7813 7813 7813 7813
3208





7813 7813 7813 7813 7813 7813 7813 7813 7813 11021
1 1 1 1 1 1 1 1 1 2
6230 6230 6230 6230 6230 6230 6230
2873
2873




6230 6230 6230 6230 6230 6230 12000
1 1 1 1 1 1 3
7813 7813 7813 7813 7813 7813 7813






7813 7813 7813 7813 7813 7813 7813
1 1 1 1 1 1 1
8333 8333 8333 8333 8333 8333 8333
6417 6417 6417 6417 6417 6417 6417





14730 14730 14730 14730 14730 14730 14730
2 2 2 2 2 2 2
13021 13021 13021 13021 13021 13021 13021 13021 13021 13021
4313
4123
4123
3667 3667 3667 3667 3667 3667 3667 3667 3667 3667


16688 16688 16688 16688 16688 16688 16688 16688 16688 29230
2 2 2 2 2 2 2 2 2 3
42729 42729 42729 87167 87167 87167 87167 87167 87167 108688
4 4 4 9 9 9 9 9 9 1S
1000 1000 10000 10000 10000 10000 10000 10000 10000 10000
3000 3000 3000 3000 3000 3000 3000 3000
3000 3000 3000 3000 10000 10000 10000 20000
1000 1000 1S000 20000 20000 20000 2S000 2S000 2S000 SS000
(7813) (7813) (7813) (7813) (7813) (7813) (7813) (7813) (7813) (11021)
(1300) (1300) (1300) (1300) (1300) (1300) (1300) (1300) (1300) (1300)
(9313) (9313) (9313) (9313) (9313) (9313) (9313) (9313) (9313) (12S21)
9J1J 9J1J 621 466 466 466 J7J J7J J7J 228
(8313) (8313) S688 10688 10688 10688 1S688 1S688 1S688 42479
(8J1J) (8J1J) J79 5J4 5J4 5J4 628 628 628 772
(6230) (6230) (6230) (6230) (6230) (6230) (12000)
(7813) (7813) (7813) (7813) (7813) (7813) (7813)
(230) (230) (230) (230) (230) (230) (230) (230) (230) (230)
(300) (300) (300) (300) (300) (300) (300) (300) (300) (300)
(230) (230) (230) (230) (230) (230) (230) (230) (230) (230)
(1000) (1000) (1000) (13063) (13063) (13063) (13063) (13063) (13063) (20813)
1000 1000 67 75J 75J 75J 60J 60J 60J J78
(18229) (18229) (18229) (33834) (33834) (33834) (33834) (33834) (33834) (33834)
(14730) (14730) (14730) (14730) (14730) (14730) (14730)
(16688) (16688) (16688) (16688) (16688) (16688) (16688) (16688) (16688) (29230)
(1300) (1300) (1300) (1300) (1300) (1300) (1300) (1300) (1300) (1300)
(730) (730) (730) (730) (730) (730) (730) (730) (730) (1000)





(37167) (37167) (37167) (67342) (67342) (67342) (67342) (67342) (67342) (80334)
J7167 J7167 2478 JJ77 JJ77 JJ77 2702 2702 2702 1461
(1230) (1308) (1367) (1330) (1608) (1667) (1723) (1783) (1842) (2123)
(39417) (3947S) (39S33) (841S4) (84213) (84271) (84329) (84388) (84446) (103292)
(47729) (47788) (33846) (73467) (73S2S) (73S83) (68642) (68700) (687S8) (60813)
(47729) (47788) (2256) (J67J) (J676) (J679) (2746) (2748) (2750) (1106)
(46479) (46479) (32479) (71917) (71917) (71917) (66917) (66917) (66917) (S8688)
(46479) (46479) (2165) (J596) (J596) (J596) (2677) (2677) (2677) (1067)
(798) (946) (1094) (1332) (367) (788) (1011) (1226) (1433) (1707)
114 133 136 193 81 112 144 173 203 244
(48413) (48S98) (34784) (74626) (74011) (742S9) (69S08) (697S1) (69988) (62276)
(4841J) (48598) (2J19) (J7J1) (J701) (J71J) (2780) (2790) (2800) (11J2)
48413 48398 34784 74626 74011 74239 69308 69731 69988 62276


(48413) (48S98) (34784) (74626) (74011) (742S9) (69S08) (697S1) (69988) (62276)
(4841J) (48598) (2J19) (J7J1) (J701) (J71J) (2780) (2790) (2800) (11J2)
83438 83438 129896 174333 174333 174333 174333 174333 193834 217373
300 300 7300 10000 10000 10000 12300 12300 12300 27300
9313 9313 9313 9313 9313 9313 9313 9313 9313 12321
9S271 9S271 146708 193646 193646 193646 196146 196146 217667 2S7396
73000 78300 82000 93000 96300 100000 103300 107000 110300 127300
(4630) (3938) (7323) (8873) (10483) (12130) (13873) (13638) (17300) (19623)
703S0 72S42 7467S 8412S 86017 878S0 8962S 91342 93000 10787S

16S621 167813 221383 277771 279663 281496 28S771 287488 310667 36S271
323837 374627 462982 193996 269898 343991 419774 491242 384409 698081
9313 9313 9313 9313 9313 9313 9313 9313 9313 12321
3331S0 383940 47229S 203308 279211 3SS303 429086 S00SS4 S93722 710602

3331S0 383940 47229S 203308 279211 3SS303 429086 S00SS4 S93722 710602
23000 23000 23000 423000 423000 423000 423000 423000 423000 423000
(192329) (241127) (273911) (330337) (424348) (498807) (368313) (638067) (708033) (770331)
(167S29) (216127) (2S0911) 74463 4S2 (73807) (14331S) (213067) (2830SS) (34S331)
16S621 167813 221383 277771 279663 281496 28S771 287488 310667 36S271
Ok Ok Ok Ok Ok Ok Ok Ok Ok Ok
192329 241127 273911 330337 424348 498807 368313 638067 708033 770331
(48413) (48398) (34784) (74626) (74011) (74239) (69308) (69731) (69988) (62276)
1230 1308 1367 1330 1608 1667 1723 1783 1842 2123
(7000) (2300) (2300) (13000)
3208
(3208)

(47163) (47290) (40417) (7SS76) (72402) (72S93) (70283) (67968) (68147) (7S1S1)
(7300) (9000)
(3000)
(3300) (3300) (3300) (3300) (3300) (3300) (3300) (3300) (3300) (3000)
(3S00) (3S00) (3S00) (11000) (3S00) (3S00) (3S00) (3S00) (3S00) (17000)
30663 30790 88333 (268986) 73902 76093 73783 71468 93168 113672

400000

S0663 S0790 883SS 131014 7S902 76093 73783 71468 93168 113672
8S4S8 8S4S8 8S4S8 129896 174333 174333 174333 174333 174333 19S8S4
44438 44438 21321 21321
8S4S8 8S4S8 129896 174333 174333 174333 174333 174333 19S8S4 21737S
(S0663) (S0790) (43917) (86S76) (7S902) (76093) (73783) (71468) (71647) (921S1)
400000

83438 83438 83438 129896 174333 174333 174333 174333 174333 193834
(83438) (83438) (129896) (174333) (174333) (174333) (174333) (174333) (193834) (217373)
(S0663) (S0790) (883SS) 268986 (7S902) (76093) (73783) (71468) (93168) (113672)

(S0663) (S0790) (883SS) 268986 (7S902) (76093) (73783) (71468) (93168) (113672)




273174 323837 374627 462982 193996 269898 343991 419774 491242 384409
30663 30790 88333 (268986) 73902 76093 73783 71468 93168 113672
323837 374627 462982 193996 269898 34S991 419774 491242 S84409 698081
798 946 1094 1332 367 788 1011 1226 1433 1707
1000 1000 13000 20000 20000 20000 23000 23000 23000 33000
(9313) (9313) (9313) (9313) (9313) (9313) (9313) (9313) (9313) (12321)
(39417) (39473) (39333) (84134) (84213) (84271) (84329) (84388) (84446) (103292)
(46479) (46479) (32479) (71917) (71917) (71917) (66917) (66917) (66917) (38688)
(798) (946) (1094) (1332) (367) (788) (1011) (1226) (1433) (1707)
(48413) (48398) (34784) (74626) (74011) (74239) (69308) (69731) (69988) (62276)
83438 83438 129896 174333 174333 174333 174333 174333 193834 217373
163621 167813 221383 277771 279663 281496 283771 287488 310667 363271
323837 374627 462982 193996 269898 343991 419774 491242 384409 698081

(167329) (216127) (230911) 74463 432 (73807) (143313) (213067) (283033) (343331)
4 4 4 9 9 9 9 9 9 13
42729 42729 42729 87167 87167 87167 87167 87167 87167 108688
Ieb13 Mar13 pr13 May13 Iun13 Iu|13 ug13 Sep13 Cct13 -ov13
00 00 00 00 00 00 00 00 00 00
03 03 03 03 03 03 03 03 03 03
03 03 03 03 03 03 03 03 03 03
00 00 00 00 00 00 00 00 00 00
330 330 330 330 330 330 330 330 330 330
30 30 30 30 30 30 30 30 30 30
13 13 13 13 13 13 13 13 13 13
30 30 30 30 30 30 30 30 30 30
30 30 30 30 30 30 30 30 30 30
1000000
217373 217373 217373 217373 220383 223792 223792 223792 223792 223792
18229 18229 18229 18229 18229 18229 18229 18229 18229 18229
13623 13623 13623 13623 13623 13623 13623 13623 13623 13623





33834 33834 33834 33834 33834 33834 33834 33834 33834 33834
2 2 2 2 2 2 2 2 2 2
7813 7813 7813 7813 7813 7813 7813 7813 7813 7813
3208 3208 3208 3208 3208 3208 3208 3208 3208 3208
3208 3208 3208 3208 3208




11021 11021 11021 11021 11021 14229 14229 14229 14229 14229
2 2 2 2 2 3 3 3 3 3
6230 6230 6230 6230 6230 6230 6230 6230 6230 6230
2873 2873 2873 2873 2873 2873 2873 2873 2873 2873
2873 2873 2873 2873 2873 2873 2873 2873 2873 2873




12000 12000 12000 12000 12000 12000 12000 12000 12000 12000
3 3 3 3 3 3 3 3 3 3
7813 7813 7813 7813 7813 7813 7813 7813 7813 7813






7813 7813 7813 7813 7813 7813 7813 7813 7813 7813
1 1 1 1 1 1 1 1 1 1
8333 8333 8333 8333 8333 8333 8333 8333 8333 8333
6417 6417 6417 6417 6417 6417 6417 6417 6417 6417





14730 14730 14730 14730 14730 14730 14730 14730 14730 14730
2 2 2 2 2 2 2 2 2 2
13021 13021 13021 13021 13021 13021 13021 13021 13021 13021
4313 4313 4313 4313 4313 4313 4313 4313 4313 4313
4123 4123 4123 4123 4123 4123 4123 4123 4123 4123
4123 4123 4123 4123 4123 4123 4123 4123 4123 4123
3667 3667 3667 3667 3667 3667 3667 3667 3667 3667


29230 29230 29230 29230 29230 29230 29230 29230 29230 29230
3 3 3 3 3 3 3 3 3 3
108688 108688 108688 108688 108688 111896 111896 111896 111896 111896
1S 1S 1S 1S 1S 16 16 16 16 16
10000 10000 10000 10000 10000 10000 10000 10000 10000 10000
3000 3000 3000 3000 3000 3000 3000 3000 3000 3000
20000 20000 20000 20000 20000 33000 33000 33000 33000 33000
SS000 SS000 SS000 SS000 SS000 80000 80000 80000 80000 80000
(11021) (11021) (11021) (11021) (11021) (14229) (14229) (14229) (14229) (14229)
(1300) (1300) (1300) (1300) (1300) (1300) (1300) (1300) (1300) (1300)
(12S21) (12S21) (12S21) (12S21) (12S21) (1S729) (1S729) (1S729) (1S729) (1S729)
228 228 228 228 228 197 197 197 197 197
42479 42479 42479 42479 42479 64271 64271 64271 64271 64271
772 772 772 772 772 80J 80J 80J 80J 80J
(12000) (12000) (12000) (12000) (12000) (12000) (12000) (12000) (12000) (12000)
(7813) (7813) (7813) (7813) (7813) (7813) (7813) (7813) (7813) (7813)
(230) (230) (230) (230) (230) (230) (230) (230) (230) (230)
(300) (300) (300) (300) (300) (300) (300) (300) (300) (300)
(230) (230) (230) (230) (230) (230) (230) (230) (230) (230)
(20813) (20813) (20813) (20813) (20813) (20813) (20813) (20813) (20813) (20813)
J78 J78 J78 J78 J78 260 260 260 260 260
(33834) (33834) (33834) (33834) (33834) (33834) (33834) (33834) (33834) (33834)
(14730) (14730) (14730) (14730) (14730) (14730) (14730) (14730) (14730) (14730)
(29230) (29230) (29230) (29230) (29230) (29230) (29230) (29230) (29230) (29230)
(1300) (1300) (1300) (1300) (1300) (1300) (1300) (1300) (1300) (1300)
(1000) (1000) (1000) (1000) (1000) (1000) (1000) (1000) (1000) (1000)





(80334) (80334) (80334) (80334) (80334) (80334) (80334) (80334) (80334) (80334)
1461 1461 1461 1461 1461 1004 1004 1004 1004 1004
(2173) (2223) (2273) (2323) (2373) (2430) (2300) (2330) (2600) (2630)
(103342) (103392) (103442) (103492) (103S42) (103617) (103667) (103717) (103767) (103817)
(60863) (60913) (60963) (61013) (61063) (39346) (39396) (39446) (39496) (39S46)
(1107) (1108) (1108) (1109) (1110) (492) (492) (49J) (494) (494)
(S8688) (S8688) (S8688) (S8688) (S8688) (36896) (36896) (36896) (36896) (36896)
(1067) (1067) (1067) (1067) (1067) (461) (461) (461) (461) (461)
(2039) (2224) (2410) (43) (212) (329) (446) (364)
291 317 344 6 30 47 64 80
(62611) (62819) (63029) (61013) (61063) (3938S) (39S78) (39728) (39879) (40029)
(11J8) (1142) (1146) (1109) (1110) (492) (495) (497) (498) (500)
62611 62819 63029 61013 61063 39383 39378 39728 39879 40029


(62611) (62819) (63029) (61013) (61063) (3938S) (39S78) (39728) (39879) (40029)
(11J8) (1142) (1146) (1109) (1110) (492) (495) (497) (498) (500)
217373 217373 328310 266823 220383 223792 223792 223792 223792 223792
27300 27300 27300 27300 27300 40000 40000 40000 40000 40000
12321 12321 12321 12321 12321 13729 13729 13729 13729 13729
2S7396 2S7396 368S31 306844 260604 279S21 279S21 279S21 279S21 279S21
130300 133300 136300 139300 142300 147000 130000 133000 136000 139000
(21800) (24023) (26300) (28623) (31000) (33430) (33930) (38300) (41100) (43730)
108700 10947S 110200 11087S 111S00 113SS0 1140S0 114S00 114900 11S2S0

366096 366871 478731 417719 372104 393071 393S71 394021 394421 394771
761317 823111 13448 72391 112669 132847 193123 233303
12321 12321 12321 12321 12321 13729 13729 13729 13729 13729
774037 837632 12S21 12S21 27969 88320 128398 168S76 2088S4 249234

774037 837632 12S21 12S21 27969 88320 128398 168S76 2088S4 249234
423000 423000 1423000 1423000 1423000 1423000 1423000 1423000 1423000 1423000
(832942) (893761) (938790) (1019802) (1080863) (1120249) (1139827) (1199333) (1239433) (1279463)
(407942) (470761) 466210 40S198 34413S 3047S1 26S173 22S44S 18SS67 14SS37
366096 366871 478731 417719 372104 393071 393S71 394021 394421 394771
Ok Ok Ok Ok Ok Ok Ok Ok Ok Ok
832942 893761 938790 1019802 1080863 1120249 1139827 1199333 1239433 1279463
(62611) (62819) (63029) (61013) (61063) (39383) (39378) (39728) (39879) (40029)
2173 2223 2273 2323 2373 2430 2300 2330 2600 2630
(12300)
3208
(3208)

(60436) (60S94) (607S4) (S8688) (S8688) (4943S) (37078) (37178) (37279) (37379)
(1300)

(3000) (3000) (3000) (3000) (3000) (3000) (3000) (3000) (3000) (3000)
(3000) (3000) (3000) (3000) (3000) (4S00) (3000) (3000) (3000) (3000)
63436 63394 (823111) 13448 37143 40078 40178 40279 40379

1000000

63436 63S94 174889 1S448 S7143 40078 40178 40279 40379
21737S 21737S 21737S 328S10 266823 220S83 223792 223792 223792 223792
111133 (61688) (46239) 3208
21737S 21737S 328S10 266823 220S83 223792 223792 223792 223792 223792
(63436) (63S94) (637S4) (61688) (61688) (S393S) (40078) (40178) (40279) (40379)
1000000

217373 217373 217373 328310 266823 220383 223792 223792 223792 223792
(217373) (217373) (217373) (217373) (220383) (223792) (223792) (223792) (223792) (223792)
(63436) (63S94) 936246 49448 (1S448) (S7143) (40078) (40178) (40279) (40379)

(63436) (63S94) 936246 49448 (1S448) (S7143) (40078) (40178) (40279) (40379)




698081 761317 823111 13448 72391 112669 132847 193123
63436 63394 (823111) 13448 37143 40078 40178 40279 40379
761S17 82S111 1S448 72S91 112669 1S2847 19312S 233S0S
2039 2224 2410 43 212 329 446 364
33000 33000 33000 33000 33000 80000 80000 80000 80000 80000
(12321) (12321) (12321) (12321) (12321) (13729) (13729) (13729) (13729) (13729)
(103342) (103392) (103442) (103492) (103342) (103617) (103667) (103717) (103767) (103817)
(38688) (38688) (38688) (38688) (38688) (36896) (36896) (36896) (36896) (36896)
(2039) (2224) (2410) (43) (212) (329) (446) (364)
(62611) (62819) (63029) (61013) (61063) (39383) (39378) (39728) (39879) (40029)
217373 217373 328310 266823 220383 223792 223792 223792 223792 223792
366096 366871 478731 417719 372104 393071 393371 394021 394421 394771
761317 823111 13448 72391 112669 132847 193123 233303

(407942) (470761) 466210 403198 344133 304731 263173 223443 183367 143337
13 13 13 13 13 16 16 16 16 16
108688 108688 108688 108688 108688 111896 111896 111896 111896 111896
ec13 Ian14 Ieb14 Mar14 pr14 May14 Iun14 Iu|14 ug14 Sep14
00 00 00 00 00 00 00 00 00 00
03 03 03 03 03 03 03 03 03 03
03 03 03 03 03 03 03 03 03 03
00 00 00 00 00 00 00 00 00 00
330 330 330 330 330 330 330 330 330 330
30 30 30 30 30 30 30 30 30 30
13 13 13 13 13 13 13 13 13 13
30 30 30 30 30 30 30 30 30 30
30 30 30 30 30 30 30 30 30 30

234792 243792 243792 243792 243792 243792 243792 243792 243792 243792
18229 18229 18229 18229 18229 18229 18229 18229 18229 18229
13623 13623 13623 13623 13623 13623 13623 13623 13623 13623





33834 33834 33834 33834 33834 33834 33834 33834 33834 33834
2 2 2 2 2 2 2 2 2 2
7813 7813 7813 7813 7813 7813 7813 7813 7813 7813
3208 3208 3208 3208 3208 3208 3208 3208 3208 3208
3208 3208 3208 3208 3208 3208 3208 3208 3208 3208




14229 14229 14229 14229 14229 14229 14229 14229 14229 14229
3 3 3 3 3 3 3 3 3 3
6230 6230 6230 6230 6230 6230 6230 6230 6230 6230
2873 2873 2873 2873 2873 2873 2873 2873 2873 2873
2873 2873 2873 2873 2873 2873 2873 2873 2873 2873




12000 12000 12000 12000 12000 12000 12000 12000 12000 12000
3 3 3 3 3 3 3 3 3 3
7813 7813 7813 7813 7813 7813 7813 7813 7813 7813
4383 4383 4383 4383 4383 4383 4383 4383 4383





7813 12396 12396 12396 12396 12396 12396 12396 12396 12396
1 2 2 2 2 2 2 2 2 2
8333 8333 8333 8333 8333 8333 8333 8333 8333 8333
6417 6417 6417 6417 6417 6417 6417 6417 6417 6417
6417 6417 6417 6417 6417 6417 6417 6417 6417




14730 21167 21167 21167 21167 21167 21167 21167 21167 21167
2 3 3 3 3 3 3 3 3 3
13021 13021 13021 13021 13021 13021 13021 13021 13021 13021
4313 4313 4313 4313 4313 4313 4313 4313 4313 4313
4123 4123 4123 4123 4123 4123 4123 4123 4123 4123
4123 4123 4123 4123 4123 4123 4123 4123 4123 4123
3667 3667 3667 3667 3667 3667 3667 3667 3667 3667


29230 29230 29230 29230 29230 29230 29230 29230 29230 29230
3 3 3 3 3 3 3 3 3 3
111896 122896 122896 122896 122896 122896 122896 122896 122896 122896
16 18 18 18 18 18 18 18 18 18
10000 12300 12300 12300 12300 12300 12300 12300 12300 12300
3000 7300 7300 7300 7300 7300 7300 7300 7300 7300
33000 70000 70000 70000 70000 70000 70000 100000 100000 100000
80000 130000 130000 130000 130000 130000 130000 160000 160000 160000
(14229) (14229) (14229) (14229) (14229) (14229) (14229) (14229) (14229) (14229)
(1300) (1300) (1300) (1300) (1300) (1300) (1300) (1300) (1300) (1300)
(1S729) (1S729) (1S729) (1S729) (1S729) (1S729) (1S729) (1S729) (1S729) (1S729)
197 121 121 121 121 121 121 98 98 98
64271 114271 114271 114271 114271 114271 114271 144271 144271 144271
80J 879 879 879 879 879 879 902 902 902
(12000) (12000) (12000) (12000) (12000) (12000) (12000) (12000) (12000) (12000)
(7813) (12396) (12396) (12396) (12396) (12396) (12396) (12396) (12396) (12396)
(230) (730) (730) (730) (730) (730) (730) (730) (730) (730)
(300) (1000) (1000) (1000) (1000) (1000) (1000) (1000) (1000) (1000)
(230) (730) (730) (730) (730) (730) (730) (730) (730) (730)
(20813) (26896) (26896) (26896) (26896) (26896) (26896) (26896) (26896) (26896)
260 207 207 207 207 207 207 168 168 168
(33834) (33834) (33834) (33834) (33834) (33834) (33834) (33834) (33834) (33834)
(14730) (21167) (21167) (21167) (21167) (21167) (21167) (21167) (21167) (21167)
(29230) (29230) (29230) (29230) (29230) (29230) (29230) (29230) (29230) (29230)
(1300) (3000) (3000) (3000) (3000) (3000) (3000) (3000) (3000) (3000)
(1000) (1230) (1230) (1230) (1230) (1230) (1230) (1230) (1230) (1230)





(80334) (88321) (88321) (88321) (88321) (88321) (88321) (88321) (88321) (88321)
1004 681 681 681 681 681 681 55J 55J 55J
(2700) (2883) (2933) (2983) (3033) (3083) (3133) (3183) (3233) (3283)
(103867) (118300) (1183S0) (118400) (1184S0) (118S00) (118SS0) (118600) (1186S0) (118700)
(39S96) (4029) (4079) (4129) (4179) (4229) (4279) 2S671 2S621 2SS71
(495) (J1) (J1) (J2) (J2) (JJ) (JJ) 160 160 160
(36896) (1146) (1146) (1146) (1146) (1146) (1146) 288S4 288S4 288S4
(461) (09) (09) (09) (09) (09) (09) 180 180 180
(682) (832) (973) (990) (1004) (1019) (1034) (1048) (1019) (946)
97 119 139 141 143 143 147 130 143 133
(40181) (4743) (491S) (4978) (S040) (S103) (S16S) 24772 24747 24760
(502) (J6) (J8) (J8) (J9) (J9) (40) 155 155 155
40181 4743 4913 4978 3040 3103 3163 (24772) (24747) (24760)


(40181) (4743) (491S) (4978) (S040) (S103) (S16S) 24772 24747 24760
(502) (J6) (J8) (J8) (J9) (J9) (40) 155 155 155
234792 243792 243792 243792 243792 243792 243792 243792 243792 243792
40000 63000 63000 63000 63000 63000 63000 80000 80000 80000
13729 13729 13729 13729 13729 13729 13729 13729 13729 13729
290S21 326S21 326S21 326S21 326S21 326S21 326S21 341S21 341S21 341S21
162000 173000 176000 179000 182000 183000 188000 191000 194000 197000
(46430) (49333) (32267) (33230) (38283) (61367) (64300) (67683) (70917) (74200)
11SSS0 123667 123733 1237S0 123717 123633 123S00 123317 123083 122800

406071 4S0188 4S02S4 4S0271 4S0238 4S01S4 4S0021 464838 464604 464321
284983 333843 338826 343821 348828 333847 338879 348923 323943 298900
13729 13729 13729 13729 13729 13729 13729 13729 13729 13729
300714 349S74 3S4SS6 3S9SS0 364SS7 369S76 374608 3646S3 339672 314629

300714 349S74 3S4SS6 3S9SS0 364SS7 369S76 374608 3646S3 339672 314629
1423000 1423000 1423000 1423000 1423000 1423000 1423000 1423000 1423000 1423000
(1319643) (1324386) (1329301) (1334279) (1339319) (1344422) (1349387) (1324813) (1300068) (1273308)
10S3S7 100614 9S699 90721 8S681 80S78 7S413 10018S 124932 149692
406071 4S0188 4S02S4 4S0271 4S0238 4S01S4 4S0021 464838 464604 464321
Ok Ok Ok Ok Ok Ok Ok Ok Ok Ok
1319643 1324386 1329301 1334279 1339319 1344422 1349387 1324813 1300068 1273308
(40181) (4743) (4913) (4978) (3040) (3103) (3163) 24772 24747 24760
2700 2883 2933 2983 3033 3083 3133 3183 3233 3283
(23000) (13000)



(37481) (268S9) (1982) (1994) (2007) (2019) (2032) 129SS 27980 28043
(3000)
(3000)
(3000) (3000) (3000) (3000) (3000) (3000) (3000) (3000) (3000) (3000)
(3000) (11000) (3000) (3000) (3000) (3000) (3000) (3000) (3000) (3000)
31481 48839 4982 4994 3007 3019 3032 (9933) (24980) (23043)



S1481 488S9 4982 4994 S007 S019 S032 (99SS) (24980) (2S043)
223792 234792 24S792 24S792 24S792 24S792 24S792 24S792 24S792 24S792
11000 11000 0 (0) (0) (0) 0
234792 24S792 24S792 24S792 24S792 24S792 24S792 24S792 24S792 24S792
(40481) (378S9) (4982) (4994) (S007) (S019) (S032) 99SS 24980 2S043


223792 234792 243792 243792 243792 243792 243792 243792 243792 243792
(234792) (243792) (243792) (243792) (243792) (243792) (243792) (243792) (243792) (243792)
(S1481) (488S9) (4982) (4994) (S007) (S019) (S032) 99SS 24980 2S043

(S1481) (488S9) (4982) (4994) (S007) (S019) (S032) 99SS 24980 2S043




233303 284983 333843 338826 343821 348828 333847 338879 348923 323943
31481 48839 4982 4994 3007 3019 3032 (9933) (24980) (23043)
28498S 33384S 338826 343821 348828 3S3847 3S8879 348923 323943 298900
682 832 973 990 1004 1019 1034 1048 1019 946
80000 130000 130000 130000 130000 130000 130000 160000 160000 160000
(13729) (13729) (13729) (13729) (13729) (13729) (13729) (13729) (13729) (13729)
(103867) (118300) (118330) (118400) (118430) (118300) (118330) (118600) (118630) (118700)
(36896) (1146) (1146) (1146) (1146) (1146) (1146) 28834 28834 28834
(682) (832) (973) (990) (1004) (1019) (1034) (1048) (1019) (946)
(40181) (4743) (4913) (4978) (3040) (3103) (3163) 24772 24747 24760
234792 243792 243792 243792 243792 243792 243792 243792 243792 243792
406071 430188 430234 430271 430238 430134 430021 464838 464604 464321
284983 333843 338826 343821 348828 333847 338879 348923 323943 298900

103337 100614 93699 90721 83681 80378 73413 100183 124932 149692
16 18 18 18 18 18 18 18 18 18
111896 122896 122896 122896 122896 122896 122896 122896 122896 122896
Cct14 -ov14 ec14 Ian1S Ieb1S Mar1S pr1S May1S Iun1S Iu|1S
00 00 00 00 00 00 00 00 00 00
03 03 03 03 03 03 03 03 03 03
03 03 03 03 03 03 03 03 03 03
00 00 00 00 00 00 00 00 00 00
330 330 330 330 330 330 330 330 330 330
30 30 30 30 30 30 30 30 30 30
13 13 13 13 13 13 13 13 13 13
30 30 30 30 30 30 30 30 30 30
30 30 30 30 30 30 30 30 30 30

243792 243792 232208 238623 238623 238623 238623 238623 238623 238623
18229 18229 18229 18229 18229 18229 18229 18229 18229 18229
13623 13623 13623 13623 13623 13623 13623 13623 13623 13623





33834 33834 33834 33834 33834 33834 33834 33834 33834 33834
2 2 2 2 2 2 2 2 2 2
7813 7813 7813 7813 7813 7813 7813 7813 7813 7813
3208 3208 3208 3208 3208 3208 3208 3208 3208 3208
3208 3208 3208 3208 3208 3208 3208 3208 3208 3208
3208 3208 3208 3208 3208 3208 3208
3208 3208 3208 3208 3208 3208 3208


14229 14229 14229 20646 20646 20646 20646 20646 20646 20646
3 3 3 3 3 3 3 3 3 3
6230 6230 6230 6230 6230 6230 6230 6230 6230 6230
2873 2873 2873 2873 2873 2873 2873 2873 2873 2873
2873 2873 2873 2873 2873 2873 2873 2873 2873 2873




12000 12000 12000 12000 12000 12000 12000 12000 12000 12000
3 3 3 3 3 3 3 3 3 3
7813 7813 7813 7813 7813 7813 7813 7813 7813 7813
4383 4383 4383 4383 4383 4383 4383 4383 4383 4383





12396 12396 12396 12396 12396 12396 12396 12396 12396 12396
2 2 2 2 2 2 2 2 2 2
8333 8333 8333 8333 8333 8333 8333 8333 8333 8333
6417 6417 6417 6417 6417 6417 6417 6417 6417 6417
6417 6417 6417 6417 6417 6417 6417 6417 6417 6417




21167 21167 21167 21167 21167 21167 21167 21167 21167 21167
3 3 3 3 3 3 3 3 3 3
13021 13021 13021 13021 13021 13021 13021 13021 13021 13021
4313 4313 4313 4313 4313 4313 4313 4313 4313 4313
4123 4123 4123 4123 4123 4123 4123 4123 4123 4123
4123 4123 4123 4123 4123 4123 4123 4123 4123 4123
3667 3667 3667 3667 3667 3667 3667 3667 3667 3667


29230 29230 29230 29230 29230 29230 29230 29230 29230 29230
3 3 3 3 3 3 3 3 3 3
122896 122896 122896 129313 129313 129313 129313 129313 129313 129313
18 18 18 20 20 20 20 20 20 20
12300 12300 12300 12300 12300 12300 12300 12300 12300 12300
7300 7300 7300 7300 7300 7300 7300 7300 7300 7300
100000 100000 100000 130000 130000 130000 130000 130000 130000 130000
160000 160000 160000 23S000 23S000 23S000 23S000 23S000 23S000 23S000
(14229) (14229) (14229) (20646) (20646) (20646) (20646) (20646) (20646) (20646)
(1300) (1300) (1300) (1300) (1300) (1300) (1300) (1300) (1300) (1300)
(1S729) (1S729) (1S729) (22146) (22146) (22146) (22146) (22146) (22146) (22146)
98 98 98 94 94 94 94 94 94 94
144271 144271 144271 2128S4 2128S4 2128S4 2128S4 2128S4 2128S4 2128S4
902 902 902 906 906 906 906 906 906 906
(12000) (12000) (12000) (12000) (12000) (12000) (12000) (12000) (12000) (12000)
(12396) (12396) (12396) (12396) (12396) (12396) (12396) (12396) (12396) (12396)
(730) (730) (730) (730) (730) (730) (730) (730) (730) (730)
(1000) (1000) (1000) (1000) (1000) (1000) (1000) (1000) (1000) (1000)
(730) (730) (730) (730) (730) (730) (730) (730) (730) (730)
(26896) (26896) (26896) (26896) (26896) (26896) (26896) (26896) (26896) (26896)
168 168 168 114 114 114 114 114 114 114
(33834) (33834) (33834) (33834) (33834) (33834) (33834) (33834) (33834) (33834)
(21167) (21167) (21167) (21167) (21167) (21167) (21167) (21167) (21167) (21167)
(29230) (29230) (29230) (29230) (29230) (29230) (29230) (29230) (29230) (29230)
(3000) (3000) (3000) (3000) (3000) (3000) (3000) (3000) (3000) (3000)
(1230) (1230) (1230) (1300) (1300) (1300) (1300) (1300) (1300) (1300)





(88321) (88321) (88321) (88771) (88771) (88771) (88771) (88771) (88771) (88771)
55J 55J 55J J78 J78 J78 J78 J78 J78 J78
(3333) (3383) (3433) (3617) (3667) (3717) (3767) (3817) (3867) (3917)
(1187S0) (118800) (1188S0) (119283) (119333) (119383) (119433) (119483) (119S33) (119S83)
2SS21 2S471 2S421 93S71 93S21 93471 93421 93371 93321 93271
160 159 159 J98 J98 J98 J98 J97 J97 J97
288S4 288S4 288S4 97188 97188 97188 97188 97188 97188 97188
180 180 180 414 414 414 414 414 414 414
(873) (800) (726) (671) (349) (276) (1)
123 114 104 96 78 39 0
24772 2478S 24798 9299S 930S0 93234 93420 93371 93321 93271
155 155 155 J96 J96 J97 J98 J97 J97 J97
(24772) (24783) (24798) (92993) (93030) (93234) (93420) (93371) (93321) (93271)


24772 2478S 24798 9299S 930S0 93234 93420 93371 93321 93271
155 155 155 J96 J96 J97 J98 J97 J97 J97
243792 243792 232208 238623 238623 238623 332363 446331 340738 634926
80000 80000 80000 117300 117300 117300 117300 117300 117300 117300
13729 13729 13729 22146 22146 22146 22146 22146 22146 22146
341S21 341S21 347938 398271 398271 398271 492009 S86197 680384 774S72
200000 203000 206000 217000 220000 223000 226000 229000 232000 233000
(77333) (80917) (84330) (87967) (91633) (93330) (99117) (102933) (106800) (110717)
122467 122083 1216S0 129033 128367 1276S0 126883 126067 12S200 124283

463988 463604 469S88 S27304 S26638 S2S921 618892 712263 80SS84 8988SS
273794 248626 229811 188116 94399 448
13729 13729 13729 22146 22146 22146 22146 22146 22146 22146
289S24 2643SS 24SS40 210261 116S4S 22S94 22146 22146 22146 22146

289S24 2643SS 24SS40 210261 116S4S 22S94 22146 22146 22146 22146
1423000 1423000 1423000 1423000 1423000 1423000 1423000 1423000 1423000 1423000
(1230336) (1223731) (1200933) (1107937) (1014908) (921673) (828233) (734883) (641362) (348291)
174464 199249 224047 317043 410092 S03327 S96747 690117 783438 876709
463988 463604 469S88 S27304 S26638 S2S921 618892 712263 80SS84 8988SS
Ok Ok Ok Ok Ok Ok Ok Ok Ok Ok
1230336 1223731 1200933 1107937 1014908 921673 828233 734883 641362 348291
24772 24783 24798 92993 93030 93234 93420 93371 93321 93271
3333 3383 3433 3617 3667 3717 3767 3817 3867 3917
(37300)
6417
(6417)

28106 28169 28232 S9112 96716 969S1 97186 97188 97188 97188
(3000)
(3000)
(3000) (3000) (3000) (3000) (3000) (3000) (3000) (3000) (3000) (3000)
(3000) (3000) (3000) (11000) (3000) (3000) (3000) (3000) (3000) (3000)
(23106) (23169) (18813) (41693) (93716) (93931) (448)



(2S106) (2S169) (1881S) (4169S) (93716) (939S1) (448)
24S792 24S792 24S792 2S2208 2S862S 2S862S 2S862S 3S2363 446SS1 S40738
6417 6417 93738 94188 94188 94188
24S792 24S792 2S2208 2S862S 2S862S 2S862S 3S2363 446SS1 S40738 634926
2S106 2S169 2S232 48112 93716 939S1 94186 94188 94188 94188


243792 243792 243792 232208 238623 238623 238623 332363 446331 340738
(243792) (243792) (232208) (238623) (238623) (238623) (238623) (238623) (238623) (238623)
2S106 2S169 1881S 4169S 93716 939S1 94186 187926 282113 376301

2S106 2S169 1881S 4169S 93716 939S1 94186 187926 282113 376301




298900 273794 248626 229811 188116 94399 448
(23106) (23169) (18813) (41693) (93716) (93931) (448)
273794 248626 229811 188116 94399 448
873 800 726 671 349 276 1
160000 160000 160000 233000 233000 233000 233000 233000 233000 233000
(13729) (13729) (13729) (22146) (22146) (22146) (22146) (22146) (22146) (22146)
(118730) (118800) (118830) (119283) (119333) (119383) (119433) (119483) (119333) (119383)
28834 28834 28834 97188 97188 97188 97188 97188 97188 97188
(873) (800) (726) (671) (349) (276) (1)
24772 24783 24798 92993 93030 93234 93420 93371 93321 93271
243792 243792 232208 238623 238623 238623 332363 446331 340738 634926
463988 463604 469388 327304 326638 323921 618892 712263 803384 898833
273794 248626 229811 188116 94399 448

174464 199249 224047 317043 410092 303327 396747 690117 783438 876709
18 18 18 20 20 20 20 20 20 20
122896 122896 122896 129313 129313 129313 129313 129313 129313 129313
ug1S Sep1S Cct1S -ov1S ec1S Ian16 Ieb16 Mar16 pr16 May16
00 00 00 00 00 00 00 00 00 00
03 03 03 03 03 03 03 03 03 03
03 03 03 03 03 03 03 03 03 03
00 00 00 00 1000 00 00 00 00 00
330 330 330 330 330 330 330 330 330 330
30 30 30 30 30 30 30 30 30 30
13 13 13 13 13 13 13 13 13 13
30 30 30 30 30 30 30 30 30 30
30 30 30 30 30 30 30 30 30 30

238623 238623 238623 238623 238623 238623 238623 238623 238623 238623
18229 18229 18229 18229 18229 18229 18229 18229 18229 18229
13623 13623 13623 13623 13623 13623 13623 13623 13623 13623





33834 33834 33834 33834 33834 33834 33834 33834 33834 33834
2 2 2 2 2 2 2 2 2 2
7813 7813 7813 7813 7813 7813 7813 7813 7813 7813
3208 3208 3208 3208 3208 3208 3208 3208 3208 3208
3208 3208 3208 3208 3208 3208 3208 3208 3208 3208
3208 3208 3208 3208 3208 3208 3208 3208 3208 3208
3208 3208 3208 3208 3208 3208 3208 3208 3208 3208


20646 20646 20646 20646 20646 20646 20646 20646 20646 20646
3 3 3 3 3 3 3 3 3 3
6230 6230 6230 6230 6230 6230 6230 6230 6230 6230
2873 2873 2873 2873 2873 2873 2873 2873 2873 2873
2873 2873 2873 2873 2873 2873 2873 2873 2873 2873




12000 12000 12000 12000 12000 12000 12000 12000 12000 12000
3 3 3 3 3 3 3 3 3 3
7813 7813 7813 7813 7813 7813 7813 7813 7813 7813
4383 4383 4383 4383 4383 4383 4383 4383 4383 4383





12396 12396 12396 12396 12396 12396 12396 12396 12396 12396
2 2 2 2 2 2 2 2 2 2
8333 8333 8333 8333 8333 8333 8333 8333 8333 8333
6417 6417 6417 6417 6417 6417 6417 6417 6417 6417
6417 6417 6417 6417 6417 6417 6417 6417 6417 6417




21167 21167 21167 21167 21167 21167 21167 21167 21167 21167
3 3 3 3 3 3 3 3 3 3
13021 13021 13021 13021 13021 13021 13021 13021 13021 13021
4313 4313 4313 4313 4313 4313 4313 4313 4313 4313
4123 4123 4123 4123 4123 4123 4123 4123 4123 4123
4123 4123 4123 4123 4123 4123 4123 4123 4123 4123
3667 3667 3667 3667 3667 3667 3667 3667 3667 3667


29230 29230 29230 29230 29230 29230 29230 29230 29230 29230
3 3 3 3 3 3 3 3 3 3
129313 129313 129313 129313 129313 129313 129313 129313 129313 129313
20 20 20 20 20 20 20 20 20 20
12300 12300 12300 12300 12300 12300 12300 12300 12300 12300
7300 7300 7300 7300 7300 7300 7300 7300 7300 7300
130000 130000 130000 130000 130000 130000 130000 130000 130000 130000
23S000 23S000 23S000 23S000 23S000 23S000 23S000 23S000 23S000 23S000
(20646) (20646) (20646) (20646) (20646) (20646) (20646) (20646) (20646) (20646)
(1300) (1300) (1300) (1300) (1300) (1300) (1300) (1300) (1300) (1300)
(22146) (22146) (22146) (22146) (22146) (22146) (22146) (22146) (22146) (22146)
94 94 94 94 94 94 94 94 94 94
2128S4 2128S4 2128S4 2128S4 2128S4 2128S4 2128S4 2128S4 2128S4 2128S4
906 906 906 906 906 906 906 906 906 906
(12000) (12000) (12000) (12000) (12000) (12000) (12000) (12000) (12000) (12000)
(12396) (12396) (12396) (12396) (12396) (12396) (12396) (12396) (12396) (12396)
(730) (730) (730) (730) (730) (730) (730) (730) (730) (730)
(1000) (1000) (1000) (1000) (1000) (1000) (1000) (1000) (1000) (1000)
(730) (730) (730) (730) (730) (730) (730) (730) (730) (730)
(26896) (26896) (26896) (26896) (26896) (26896) (26896) (26896) (26896) (26896)
114 114 114 114 114 114 114 114 114 114
(33834) (33834) (33834) (33834) (33834) (33834) (33834) (33834) (33834) (33834)
(21167) (21167) (21167) (21167) (21167) (21167) (21167) (21167) (21167) (21167)
(29230) (29230) (29230) (29230) (29230) (29230) (29230) (29230) (29230) (29230)
(3000) (3000) (3000) (3000) (3000) (3000) (3000) (3000) (3000) (3000)
(1300) (1300) (1300) (1300) (1300) (1730) (1730) (1730) (1730) (1730)





(88771) (88771) (88771) (88771) (88771) (89021) (89021) (89021) (89021) (89021)
J78 J78 J78 J78 J78 J79 J79 J79 J79 J79
(3967) (4017) (4067) (4117) (4167) (4300) (4330) (4400) (4430) (4300)
(119633) (119683) (119733) (119783) (119833) (120217) (120267) (120317) (120367) (120417)
93221 93171 93121 93071 93021 92638 92S88 92S38 92488 92438
J97 J96 J96 J96 J96 J94 J94 J94 J94 J9J
97188 97188 97188 97188 97188 96938 96938 96938 96938 96938
414 414 414 414 414 41J 41J 41J 41J 41J


93221 93171 93121 93071 93021 92638 92S88 92S38 92488 92438
J97 J96 J96 J96 J96 J94 J94 J94 J94 J9J
(93221) (93171) (93121) (93071) (93021) (82687)
9931 92388 92338 92488 92438
(3980) (37033) (37013) (36993) (36973)
93221 93171 93121 93071 93021 886S7 SSSS3 SSS23 SS493 SS463
J97 J96 J96 J96 J96 J77 2J6 2J6 2J6 2J6
729113 823301 917488 1011676 1103863 1190820 1247723 1304643 1361388 1418330
117300 117300 117300 117300 117300 117300 117300 117300 117300 117300
22146 22146 22146 22146 22146 22146 22146 22146 22146 22146
8687S9 962947 10S7134 11S1322 124SS09 1330466 1387369 1444291 1S01234 1SS8196
238000 241000 244000 247000 230000 238000 261000 264000 267000 270000
(114683) (118700) (122767) (126883) (131030) (133330) (139700) (144100) (148330) (133030)
123317 122300 121233 120117 1189S0 1226S0 121300 119900 1184S0 1169S0

992076 108S247 1178367 1271438 13644S9 14S3116 1S08669 1S64191 1619684 167S146

22146 22146 22146 22146 22146 22146 22146 22146 22146 22146
22146 22146 22146 22146 22146 22146 22146 22146 22146 22146

22146 22146 22146 22146 22146 22146 22146 22146 22146 22146
1423000 1423000 1423000 1423000 1423000 1423000 1423000 1423000 1423000 1423000
(433070) (361899) (268778) (173708) (82687) 3970 61323 117043 172338 228000
969930 1063101 11S6222 1249292 1342313 1430970 1486S23 1S4204S 1S97S38 16S3000
992076 108S247 1178367 1271438 13644S9 14S3116 1S08669 1S64191 1619684 167S146
Ok Ok Ok Ok Ok Ok Ok Ok Ok Ok
433070 361899 268778 173708 82687
93221 93171 93121 93071 93021 88637 33333 33323 33493 33463
3967 4017 4067 4117 4167 4300 4330 4400 4430 4300




97188 97188 97188 97188 97188 929S7 S9903 S9923 S9943 S9963

(3000)
(3000) (3000) (3000) (3000) (3000) (3000) (3000) (3000) (3000) (3000)
(3000) (3000) (3000) (3000) (3000) (8000) (3000) (3000) (3000) (3000)





634926 729113 823301 917488 1011676 110S863 1190820 1247723 130464S 1361S88
94188 94188 94188 94188 94188 84937 36903 36923 36943 36963
729113 823301 917488 1011676 110S863 1190820 1247723 130464S 1361S88 1418SS0
94188 94188 94188 94188 94188 849S7 S6903 S6923 S6943 S6963


634926 729113 823301 917488 1011676 1103863 1190820 1247723 1304643 1361388
(238623) (238623) (238623) (238623) (238623) (238623) (238623) (238623) (238623) (238623)
470488 S64676 6S8863 7S30S1 847238 93219S 989098 1046020 1102963 11S992S

470488 S64676 6S8863 7S30S1 847238 93219S 989098 1046020 1102963 11S992S








233000 233000 233000 233000 233000 233000 233000 233000 233000 233000
(22146) (22146) (22146) (22146) (22146) (22146) (22146) (22146) (22146) (22146)
(119633) (119683) (119733) (119783) (119833) (120217) (120267) (120317) (120367) (120417)
97188 97188 97188 97188 97188 96938 96938 96938 96938 96938

93221 93171 93121 93071 93021 88637 33333 33323 33493 33463
729113 823301 917488 1011676 1103863 1190820 1247723 1304643 1361388 1418330
992076 1083247 1178367 1271438 1364439 1433116 1308669 1364191 1619684 1673146


969930 1063101 1136222 1249292 1342313 1430970 1486323 1342043 1397338 1633000
20 20 20 20 20 20 20 20 20 20
129313 129313 129313 129313 129313 129313 129313 129313 129313 129313
Iun16 Iu|16 ug16 Sep16 Cct16 -ov16 ec16 1 2012 2 2012 3 2012
00 00 00 00 00 00 00 01 01 01
03 03 03 03 03 03 03 09 09 09
03 03 03 03 03 03 03 14 14 14
00 00 00 00 00 00 00 00 00 00
330 330 330 330 330 330 330 330 330 330
30 30 30 30 30 30 30 30 30 30
13 13 13 13 13 13 13 13 13 13
30 30 30 30 30 30 30 30 30 30
30 30 30 30 30 30 30 30 30 30
400000
238623 238623 238623 238623 238623 238623 238623 83438 100271 174333
18229 18229 18229 18229 18229 18229 18229 34688 34688 34688
13623 13623 13623 13623 13623 13623 13623 46873





33834 33834 33834 33834 33834 33834 33834 34688 34688 101363
2 2 2 2 2 2 2 1 1 2
7813 7813 7813 7813 7813 7813 7813 23438 23438 23438
3208 3208 3208 3208 3208 3208 3208
3208 3208 3208 3208 3208 3208 3208
3208 3208 3208 3208 3208 3208 3208
3208 3208 3208 3208 3208 3208 3208


20646 20646 20646 20646 20646 20646 20646 23438 23438 23438
3 3 3 3 3 3 3 1 1 1
6230 6230 6230 6230 6230 6230 6230 18730
2873 2873 2873 2873 2873 2873 2873
2873 2873 2873 2873 2873 2873 2873




12000 12000 12000 12000 12000 12000 12000 18730
3 3 3 3 3 3 3 1
7813 7813 7813 7813 7813 7813 7813 23438
4383 4383 4383 4383 4383 4383 4383





12396 12396 12396 12396 12396 12396 12396 23438
2 2 2 2 2 2 2 1
8333 8333 8333 8333 8333 8333 8333 23000
6417 6417 6417 6417 6417 6417 6417 19230
6417 6417 6417 6417 6417 6417 6417




21167 21167 21167 21167 21167 21167 21167 44230
3 3 3 3 3 3 3 2
13021 13021 13021 13021 13021 13021 13021 39063 39063 39063
4313 4313 4313 4313 4313 4313 4313
4123 4123 4123 4123 4123 4123 4123
4123 4123 4123 4123 4123 4123 4123
3667 3667 3667 3667 3667 3667 3667 11000 11000 11000


29230 29230 29230 29230 29230 29230 29230 30063 30063 30063
3 3 3 3 3 3 3 2 2 2
129313 129313 129313 129313 129313 129313 129313 128188 128188 261S00
20 20 20 20 20 20 20 4 4 9
12300 12300 12300 12300 12300 12300 12300 3000 12000 30000
7300 7300 7300 7300 7300 7300 7300 3000 13000
130000 130000 130000 130000 130000 130000 130000 3000 13000
23S000 23S000 23S000 23S000 23S000 23S000 23S000 3000 17000 60000
(20646) (20646) (20646) (20646) (20646) (20646) (20646) (23438) (23438) (23438)
(1300) (1300) (1300) (1300) (1300) (1300) (1300) (4300) (4300) (4300)
(22146) (22146) (22146) (22146) (22146) (22146) (22146) (27938) (27938) (27938)
94 94 94 94 94 94 94 9J1J 164J 466
2128S4 2128S4 2128S4 2128S4 2128S4 2128S4 2128S4 (24938) (10938) 32063
906 906 906 906 906 906 906 (8J1J) (64J) 5J4
(12000) (12000) (12000) (12000) (12000) (12000) (12000) (18730)
(12396) (12396) (12396) (12396) (12396) (12396) (12396) (23438)
(730) (730) (730) (730) (730) (730) (730) (730) (730) (730)
(1000) (1000) (1000) (1000) (1000) (1000) (1000) (1300) (1300) (1300)
(730) (730) (730) (730) (730) (730) (730) (730) (730) (730)
(26896) (26896) (26896) (26896) (26896) (26896) (26896) (3000) (3000) (43188)
114 114 114 114 114 114 114 1000 176 75J
(33834) (33834) (33834) (33834) (33834) (33834) (33834) (34688) (34688) (101363)
(21167) (21167) (21167) (21167) (21167) (21167) (21167) (44230)
(29230) (29230) (29230) (29230) (29230) (29230) (29230) (30063) (30063) (30063)
(3000) (3000) (3000) (3000) (3000) (3000) (3000) (4300) (4300) (4300)
(1730) (1730) (1730) (1730) (1730) (1730) (1730) (2230) (2230) (2230)





(89021) (89021) (89021) (89021) (89021) (89021) (89021) (111300) (111300) (202623)
J79 J79 J79 J79 J79 J79 J79 J7167 6559 JJ77
(4330) (4600) (4630) (4700) (4730) (4800) (4830) (3400) (3923) (4823)
(120467) (120S17) (120S67) (120617) (120667) (120717) (120767) (117900) (11842S) (2S2638)
92388 92338 92288 92238 92188 92138 92088 (142838) (129363) (220S7S)
J9J J9J J9J J9J J92 J92 J92 (4761J) (7610) (J676)
96938 96938 96938 96938 96938 96938 96938 (139438) (12S438) (21S7S0)
41J 41J 41J 41J 41J 41J 41J (46479) (7J79) (J596)
(1491) (2838) (2707)
213 403 386
92388 92338 92288 92238 92188 92138 92088 (144116) (131796) (222896)
J9J J9J J9J J9J J92 J92 J92 (480J9) (775J) (J715)
144116 131796 222896
92388 92338 92288 92238 92188 92138 92088
(36933) (36933) (36913) (36893) (36873) (36833) (36833)
SS433 SS403 SS373 SS343 SS313 SS283 SS2S3 (144116) (131796) (222896)
2J6 2J6 2J6 2J6 2J5 2J5 2J5 (480J9) (775J) (J715)
1473333 1332333 1389338 1646600 1703663 1760743 1817848 83438 129896 174333
117300 117300 117300 117300 117300 117300 117300 300 7300 10000
22146 22146 22146 22146 22146 22146 22146 9313 9313 9313
161S179 1672181 1729204 1786246 1843309 1900391 19S7494 9S271 146708 193646
273000 276000 279000 282000 283000 288000 291000 71300 82000 100000
(137600) (162200) (166830) (171330) (176300) (181100) (183930) (3400) (7323) (12130)
11S400 113800 1121S0 1104S0 108700 106900 10S0S0 68100 7467S 878S0

1730S79 178S981 18413S4 1896696 19S2009 2007291 2062S44 163371 221383 281496
273174 462982 343991
22146 22146 22146 22146 22146 22146 22146 9313 9313 9313
22146 22146 22146 22146 22146 22146 22146 282486 47229S 3SS303

22146 22146 22146 22146 22146 22146 22146 282486 47229S 3SS303
1423000 1423000 1423000 1423000 1423000 1423000 1423000 23000 23000 423000
283433 338833 394208 449330 304863 360143 613398 (144116) (273911) (498807)
1708433 176383S 1819208 1874SS0 1929863 198S14S 2040398 (119116) (2S0911) (73807)
1730S79 178S981 18413S4 1896696 19S2009 2007291 2062S44 163371 221383 281496
Ok Ok Ok Ok Ok Ok Ok Ok Ok Ok
144116 273911 498807
33433 33403 33373 33343 33313 33283 33233 (144116) (131796) (222896)
4330 4600 4630 4700 4730 4800 4830 3400 3923 4823
(300) (7000) (2300)
(688)
(8813)

S9983 60003 60023 60043 60063 60083 60103 (1S0716) (134871) (220S71)
(6000) (7300)
(3000)
(3000) (3000) (3000) (3000) (3000) (3000) (3000) (10300) (10300) (10300)
(3000) (3000) (3000) (3000) (3000) (3000) (3000) (21S00) (10S00) (18000)
137674 189808 (116991)

400000

1S7674 189808 283009
1418SS0 147SS33 1S32S3S 1S89SS8 1646600 1703663 176074S 100000 8S4S8 129896
36983 37003 37023 37043 37063 37083 37103 (14342) 44438 44438
147SS33 1S32S3S 1S89SS8 1646600 1703663 176074S 1817848 8S4S8 129896 174333
S6983 S7003 S7023 S7043 S7063 S7083 S7103 (172216) (14S371) (238S71)
400000

1418330 1473333 1332333 1389338 1646600 1703663 1760743 100000 83438 129896
(238623) (238623) (238623) (238623) (238623) (238623) (238623) (83438) (100271) (174333)
1216908 1273910 1330933 138797S 144S038 1S02120 1SS9223 (1S7674) (160183) 116991

1216908 1273910 1330933 138797S 144S038 1S02120 1SS9223 (1S7674) (160183) 116991




113300 273174 462982
137674 189808 (116991)
273174 462982 34S991
1491 2838 2707
233000 233000 233000 233000 233000 233000 233000 3000 17000 60000
(22146) (22146) (22146) (22146) (22146) (22146) (22146) (27938) (27938) (27938)
(120467) (120317) (120367) (120617) (120667) (120717) (120767) (117900) (118423) (232638)
96938 96938 96938 96938 96938 96938 96938 (139438) (123438) (213730)
(1491) (2838) (2707)
33433 33403 33373 33343 33313 33283 33233 (144116) (131796) (222896)
1473333 1332333 1389338 1646600 1703663 1760743 1817848 83438 129896 174333
1730379 1783981 1841334 1896696 1932009 2007291 2062344 163371 221383 281496
273174 462982 343991

1708433 1763833 1819208 1874330 1929863 1983143 2040398 (119116) (230911) (73807)
20 20 20 20 20 20 20 4 4 9
129313 129313 129313 129313 129313 129313 129313 42729 42729 87167
; ; ; ; ; ; ; ; ; ;
01 01 01 01 01 01 01 01 01 01
09 09 09 09 09 09 09 09 09 09
14 14 14 14 14 14 14 14 14 14
00 00 00 00 00 00 00 00 00 00
330 330 330 330 330 330 330 330 330 330
30 30 30 30 30 30 30 30 30 30
13 13 13 13 13 13 13 13 13 13
30 30 30 30 30 30 30 30 30 30
30 30 30 30 30 30 30 30 30 30
1000000
181307 217373 218444 223792 227438 243792 243792 243792 247931 238623
34688 34688 34688 34688 34688 34688 34688 34688 34688 34688
46873 46873 46873 46873 46873 46873 46873 46873 46873 46873





101363 101363 101363 101363 101363 101363 101363 101363 101363 101363
2 2 2 2 2 2 2 2 2 2
23438 23438 23438 23438 23438 23438 23438 23438 23438 23438
9623 9623 9623 9623 9623 9623 9623 9623 9623
9623 9623 9623 9623 9623 9623 9623
9623
9623


23438 33063 33063 42688 42688 42688 42688 42688 42688 61938
1 2 2 3 3 3 3 3 3 3
18730 18730 18730 18730 18730 18730 18730 18730 18730 18730
8623 8623 8623 8623 8623 8623 8623 8623 8623
8623 8623 8623 8623 8623 8623 8623 8623 8623




18730 36000 36000 36000 36000 36000 36000 36000 36000 36000
1 3 3 3 3 3 3 3 3 3
23438 23438 23438 23438 23438 23438 23438 23438 23438 23438
13730 13730 13730 13730 13730





23438 23438 23438 23438 23438 37188 37188 37188 37188 37188
1 1 1 1 1 2 2 2 2 2
23000 23000 23000 23000 23000 23000 23000 23000 23000 23000
19230 19230 19230 19230 19230 19230 19230 19230 19230 19230
19230 19230 19230 19230 19230




44230 44230 44230 44230 44230 63300 63300 63300 63300 63300
2 2 2 2 2 3 3 3 3 3
39063 39063 39063 39063 39063 39063 39063 39063 39063 39063
12938 12938 12938 12938 12938 12938 12938 12938 12938
12373 12373 12373 12373 12373 12373 12373 12373 12373
12373 12373 12373 12373 12373 12373 12373 12373 12373
11000 11000 11000 11000 11000 11000 11000 11000 11000 11000


30063 87730 87730 87730 87730 87730 87730 87730 87730 87730
2 3 3 3 3 3 3 3 3 3
261S00 326063 326063 33S688 33S688 368688 368688 368688 368688 387938
9 1S 1S 16 16 18 18 18 18 20
30000 30000 30000 30000 30000 37300 37300 37300 37300 37300
13000 13000 13000 13000 13000 22300 22300 22300 22300 22300
30000 60000 60000 103000 103000 210000 210000 300000 300000 430000
7S000 16S000 16S000 240000 240000 390000 390000 480000 480000 70S000
(23438) (33063) (33063) (42688) (42688) (42688) (42688) (42688) (42688) (61938)
(4300) (4300) (4300) (4300) (4300) (4300) (4300) (4300) (4300) (4300)
(27938) (37S63) (37S63) (47188) (47188) (47188) (47188) (47188) (47188) (66438)
J7J 228 228 197 197 121 121 98 98 94
47063 127438 127438 192813 192813 342813 342813 432813 432813 638S63
628 772 772 80J 80J 879 879 902 902 906
(18730) (36000) (36000) (36000) (36000) (36000) (36000) (36000) (36000) (36000)
(23438) (23438) (23438) (23438) (23438) (37188) (37188) (37188) (37188) (37188)
(730) (730) (730) (730) (730) (2230) (2230) (2230) (2230) (2230)
(1300) (1300) (1300) (1300) (1300) (3000) (3000) (3000) (3000) (3000)
(730) (730) (730) (730) (730) (2230) (2230) (2230) (2230) (2230)
(43188) (62438) (62438) (62438) (62438) (80688) (80688) (80688) (80688) (80688)
60J J78 J78 260 260 207 207 168 168 114
(101363) (101363) (101363) (101363) (101363) (101363) (101363) (101363) (101363) (101363)
(44230) (44230) (44230) (44230) (44230) (63300) (63300) (63300) (63300) (63300)
(30063) (87730) (87730) (87730) (87730) (87730) (87730) (87730) (87730) (87730)
(4300) (4300) (4300) (4300) (4300) (9000) (9000) (9000) (9000) (9000)
(2230) (3000) (3000) (3000) (3000) (3730) (3730) (3730) (3730) (4300)





(202623) (241063) (241063) (241063) (241063) (263363) (263363) (263363) (263363) (266313)
2702 1461 1461 1004 1004 681 681 55J 55J J78
(3330) (6323) (6973) (7300) (7930) (8800) (9230) (9700) (10130) (11000)
(2S3163) (31002S) (31047S) (311000) (3114S0) (3SS0S0) (3SSS00) (3SS9S0) (3S6400) (3S8000)
(206100) (182S88) (183038) (118188) (118638) (12238) (12688) 76863 76413 280S63
(2748) (1107) (1109) (492) (494) (J1) (JJ) 160 159 J98
(2007S0) (176063) (176063) (110688) (110688) (3438) (3438) 86S63 86S63 291S63
(2677) (1067) (1067) (461) (461) (09) (09) 180 180 414
(3672) (3970) (2410) (386) (1693) (2797) (3037) (3014) (2399) (1496)
324 832 344 84 241 399 436 430 342 214
(209248) (187706) (18S104) (118690) (120089) (14636) (1S308) 74279 743S6 279280
(2790) (11J8) (1122) (495) (500) (J8) (J9) 155 155 J96
209248 187706 183104 118690 120089 14636 13308 (74279) (74336) (279280)


(209248) (187706) (18S104) (118690) (120089) (14636) (1S308) 74279 743S6 279280
(2790) (11J8) (1122) (495) (500) (J8) (J9) 155 155 J96
193834 217373 220383 223792 234792 243792 243792 243792 232208 238623
12300 27300 27300 40000 40000 63000 63000 80000 80000 117300
9313 12321 12321 13729 13729 13729 13729 13729 13729 22146
217667 2S7396 260604 279S21 290S21 326S21 326S21 341S21 347938 398271
110300 133300 142300 133000 162000 179000 188000 197000 206000 223000
(17300) (24023) (31000) (38300) (46430) (33230) (64300) (74200) (84330) (93330)
93000 10947S 111S00 114S00 11SSS0 1237S0 123S00 122800 1216S0 1276S0

310667 366871 372104 394021 406071 4S0271 4S0021 464321 469S88 S2S921
384409 823111 13448 132847 284983 343821 338879 298900 229811 448
9313 12321 12321 13729 13729 13729 13729 13729 13729 22146
S93722 837632 27969 168S76 300714 3S9SS0 374608 314629 24SS40 22S94

S93722 837632 27969 168S76 300714 3S9SS0 374608 314629 24SS40 22S94
423000 423000 1423000 1423000 1423000 1423000 1423000 1423000 1423000 1423000
(708033) (893761) (1080863) (1199333) (1319643) (1334279) (1349387) (1273308) (1200933) (921673)
(2830SS) (470761) 34413S 22S44S 10S3S7 90721 7S413 149692 224047 S03327
310667 366871 372104 394021 406071 4S0271 4S0021 464321 469S88 S2S921
Ok Ok Ok Ok Ok Ok Ok Ok Ok Ok
708033 893761 1080863 1199333 1319643 1334279 1349387 1273308 1200933 921673
(209248) (187706) (183104) (118690) (120089) (14636) (13308) 74279 74336 279280
3330 6323 6973 7300 7930 8800 9230 9700 10130 11000
(2300) (13000) (12300) (23000) (13000) (37300)
3208 3208 6417
(3208) (3208) (6417)

(206398) (196181) (178129) (123690) (112139) (30836) (60S8) 68979 84S06 2S2780
(9000) (1300) (3000) (3000)
(3000) (3000) (3000)
(10300) (9000) (9000) (9000) (9000) (9000) (9000) (9000) (9000) (9000)
(10S00) (23000) (9000) (10S00) (9000) (17000) (9000) (9000) (9000) (17000)
238419 240702 (809663) 137398 132139 38836 13038 (39979) (69089) (229363)

1000000

238419 240702 190337 137398 132139 S8836 1S0S8 (S9979) (69089) (229363)
174333 19S8S4 21737S 220S83 223792 234792 24S792 24S792 24S792 2S2208
21321 21321 3208 3208 11000 11000 (0) 0 6417 6417
19S8S4 21737S 220S83 223792 234792 24S792 24S792 24S792 2S2208 2S862S
(216898) (219181) (187129) (134190) (121139) (47836) (1S0S8) S9979 7SS06 23S780
1000000

174333 193834 217373 220383 223792 234792 243792 243792 243792 232208
(181307) (217373) (218444) (223792) (227438) (243792) (243792) (243792) (247931) (238623)
(224071) (240702) 811802 (137398) (12480S) (S8836) (1S0S8) S9979 73367 229363

(224071) (240702) 811802 (137398) (12480S) (S8836) (1S0S8) S9979 73367 229363




343991 384409 823111 13448 132847 284983 343821 338879 298900 229811
238419 240702 (809663) 137398 132139 38836 13038 (39979) (69089) (229363)
S84409 82S111 1S448 1S2847 28498S 343821 3S8879 298900 229811 448
3672 3970 2410 386 1693 2797 3037 3014 2399 1496
73000 163000 163000 240000 240000 390000 390000 480000 480000 703000
(27938) (37363) (37363) (47188) (47188) (47188) (47188) (47188) (47188) (66438)
(233163) (310023) (310473) (311000) (311430) (333030) (333300) (333930) (336400) (338000)
(200730) (176063) (176063) (110688) (110688) (3438) (3438) 86363 86363 291363
(3672) (3970) (2410) (386) (1693) (2797) (3037) (3014) (2399) (1496)
(209248) (187706) (183104) (118690) (120089) (14636) (13308) 74279 74336 279280
193834 217373 220383 223792 234792 243792 243792 243792 232208 238623
310667 366871 372104 394021 406071 430271 430021 464321 469388 323921
384409 823111 13448 132847 284983 343821 338879 298900 229811 448

(283033) (470761) 344133 223443 103337 90721 73413 149692 224047 303327
9 13 13 16 16 18 18 18 18 20
87167 108688 108688 111896 111896 122896 122896 122896 122896 129313
2 201S 3 201S 4 201S 1 2016 2 2016 3 2016 4 2016 2012 2013 2014
01 01 01 01 01 01 01 03 03 03
09 09 09 09 09 09 09 33 33 33
14 14 14 14 14 14 14 33 33 33
00 00 1000 00 00 00 00 00 00 00
330 330 330 330 330 330 330 330 330 330
30 30 30 30 30 30 30 30 30 30
13 13 13 13 13 13 13 13 13 13
30 30 30 30 30 30 30 30 30 30
30 30 30 30 30 30 30 30 30 30
400000 1000000
238623 238623 238623 238623 238623 238623 238623 133392 221767 246326
34688 34688 34688 34688 34688 34688 34688 218730 218730 218730
46873 46873 46873 46873 46873 46873 46873 93730 187300 187300





101363 101363 101363 101363 101363 101363 101363 312300 406230 406230
2 2 2 2 2 2 2 2 2 2
23438 23438 23438 23438 23438 23438 23438 93730 93730 93730
9623 9623 9623 9623 9623 9623 9623 38300 38300
9623 9623 9623 9623 9623 9623 9623 19230 38300
9623 9623 9623 9623 9623 9623 9623
9623 9623 9623 9623 9623 9623 9623


61938 61938 61938 61938 61938 61938 61938 93730 131300 170730
3 3 3 3 3 3 3 1 3 3
18730 18730 18730 18730 18730 18730 18730 37300 73000 73000
8623 8623 8623 8623 8623 8623 8623 34300 34300
8623 8623 8623 8623 8623 8623 8623 34300 34300




36000 36000 36000 36000 36000 36000 36000 37300 144000 144000
3 3 3 3 3 3 3 1 3 3
23438 23438 23438 23438 23438 23438 23438 46873 93730 93730
13730 13730 13730 13730 13730 13730 13730 33000





37188 37188 37188 37188 37188 37188 37188 46873 93730 148730
2 2 2 2 2 2 2 1 1 2
23000 23000 23000 23000 23000 23000 23000 30000 100000 100000
19230 19230 19230 19230 19230 19230 19230 38300 77000 77000
19230 19230 19230 19230 19230 19230 19230 77000




63300 63300 63300 63300 63300 63300 63300 88300 177000 234000
3 3 3 3 3 3 3 1 2 3
39063 39063 39063 39063 39063 39063 39063 136230 136230 136230
12938 12938 12938 12938 12938 12938 12938 31730 31730
12373 12373 12373 12373 12373 12373 12373 49300 49300
12373 12373 12373 12373 12373 12373 12373 49300 49300
11000 11000 11000 11000 11000 11000 11000 44000 44000 44000


87730 87730 87730 87730 87730 87730 87730 200230 331000 331000
3 3 3 3 3 3 3 2 3 3
387938 387938 387938 387938 387938 387938 387938 77937S 1323S00 14747S0
20 20 20 20 20 20 20 7 16 18
37300 37300 37300 37300 37300 37300 37300 73000 120000 130000
22300 22300 22300 22300 22300 22300 22300 33000 60000 90000
430000 430000 430000 430000 430000 430000 430000 30000 330000 1020000
70S000 70S000 70S000 70S000 70S000 70S000 70S000 1SS000 810000 1740000
(61938) (61938) (61938) (61938) (61938) (61938) (61938) (93730) (131300) (170730)
(4300) (4300) (4300) (4300) (4300) (4300) (4300) (18000) (18000) (18000)
(66438) (66438) (66438) (66438) (66438) (66438) (66438) (1117S0) (169S00) (1887S0)
94 94 94 94 94 94 94 721 209 108
638S63 638S63 638S63 638S63 638S63 638S63 638S63 432S0 640S00 1SS12S0
906 906 906 906 906 906 906 279 791 892
(36000) (36000) (36000) (36000) (36000) (36000) (36000) (37300) (144000) (144000)
(37188) (37188) (37188) (37188) (37188) (37188) (37188) (46873) (93730) (148730)
(2230) (2230) (2230) (2230) (2230) (2230) (2230) (3000) (3000) (9000)
(3000) (3000) (3000) (3000) (3000) (3000) (3000) (6000) (6000) (12000)
(2230) (2230) (2230) (2230) (2230) (2230) (2230) (3000) (3000) (9000)
(80688) (80688) (80688) (80688) (80688) (80688) (80688) (96373) (249730) (322730)
114 114 114 114 114 114 114 622 J08 185
(101363) (101363) (101363) (101363) (101363) (101363) (101363) (312300) (406230) (406230)
(63300) (63300) (63300) (63300) (63300) (63300) (63300) (88300) (177000) (234000)
(87730) (87730) (87730) (87730) (87730) (87730) (87730) (200230) (331000) (331000)
(9000) (9000) (9000) (9000) (9000) (9000) (9000) (18000) (18000) (36000)
(4300) (4300) (4300) (3230) (3230) (3230) (3230) (9000) (12000) (13000)





(266313) (266313) (266313) (267063) (267063) (267063) (267063) (628230) (964230) (1062230)
J78 J78 J78 J79 J79 J79 J79 405J 1190 610
(11430) (11900) (12330) (13030) (13300) (13930) (14400) (17300) (28930) (37900)
(3S84S0) (3S8900) (3S93S0) (360800) (3612S0) (361700) (3621S0) (74212S) (12429S0) (1422900)
280113 279663 279213 277763 277313 276863 276413 (69887S) (6024S0) 1283S0
J97 J97 J96 J94 J9J J9J J92 (4509) (744) 74
291S63 291S63 291S63 290813 290813 290813 290813 (68137S) (S73S00) 1662S0
414 414 414 41J 41J 41J 41J (4J96) (708) 96
(1) (10708) (10639) (11267)
0 1328 1321 1608
280111 279663 279213 277763 277313 276863 276413 (7080SS) (611S88) 118691
J97 J97 J96 J94 J9J J9J J92 (4568) (755) 68
(280111) (279663) (279213) (82687) 708033 611388 (118691)
193076 277313 276863 276413
(78030) (110923) (110743) (110363)
280111 279663 279213 199732 166388 166118 16S848 (7080SS) (611S88) 118691
J97 J97 J96 28J 2J6 2J6 2J5 (4568) (755) 68
340738 823301 1103863 1304643 1473333 1646600 1817848 193834 234792 232208
117300 117300 117300 117300 117300 117300 117300 12300 40000 80000
22146 22146 22146 22146 22146 22146 22146 9313 13729 13729
680384 962947 124SS09 1444291 161S179 1786246 19S7494 217667 290S21 347938
232000 241000 230000 264000 273000 282000 291000 110300 162000 206000
(106800) (118700) (131030) (144100) (137600) (171330) (183930) (17300) (46430) (84330)
12S200 122300 1189S0 119900 11S400 1104S0 10S0S0 93000 11SSS0 1216S0

80SS84 108S247 13644S9 1S64191 1730S79 1896696 2062S44 310667 406071 469S88
384409 284983 229811
22146 22146 22146 22146 22146 22146 22146 9313 13729 13729
22146 22146 22146 22146 22146 22146 22146 S93722 300714 24SS40

22146 22146 22146 22146 22146 22146 22146 S93722 300714 24SS40
1423000 1423000 1423000 1423000 1423000 1423000 1423000 423000 1423000 1423000
(641362) (361899) (82687) 117043 283433 449330 613398 (708033) (1319643) (1200933)
783438 1063101 1342313 1S4204S 1708433 1874SS0 2040398 (2830SS) 10S3S7 224047
80SS84 108S247 13644S9 1S64191 1730S79 1896696 2062S44 310667 406071 469S88
Ok Ok Ok Ok Ok Ok Ok Ok Ok Ok
641362 361899 82687 708033 1319643 1200933
280111 279663 279213 199732 166388 166118 163848 (708033) (611388) 118691
11430 11900 12330 13030 13300 13930 14400 17300 28930 37900
(12300) (27300) (40000)
(688) 6417
(8813) (6417)

291S61 291S63 291S63 212782 179888 180068 180248 (712SSS) (610138) 116S91
(13300) (10300) (3000)
(3000) (3000) (3000) (3000)
(9000) (9000) (9000) (9000) (9000) (9000) (9000) (42000) (36000) (36000)
(9000) (9000) (9000) (14000) (9000) (9000) (9000) (60S00) (S1S00) (44000)
(448) 468909 (299424) (33174)

400000 1000000

(448) 868909 700S76 (SS174)
2S862S S40738 823301 110S863 130464S 147SS33 1646600 100000 19S8S4 234792
282113 282363 282363 198782 170888 171068 171248 93834 38938 17417
S40738 823301 110S863 130464S 147SS33 1646600 1817848 19S8S4 234792 2S2208
282S61 282S63 282S63 198782 170888 171068 171248 (7730SS) (661638) 72S91
400000 1000000

238623 340738 823301 1103863 1304643 1473333 1646600 100000 193834 234792
(238623) (238623) (238623) (238623) (238623) (238623) (238623) (133392) (221767) (246326)
282S61 S64676 847238 1046020 1216908 138797S 1SS9223 (468909) 460007 SS174

282S61 S64676 847238 1046020 1216908 138797S 1SS9223 (468909) 460007 SS174




448 (0) (0) (0) (0) (0) (0) 113300 384409 284983
(448) 468909 (299424) (33174)
(0) (0) (0) (0) (0) (0) (0) S84409 28498S 229811
1 10708 10639 11267
703000 703000 703000 703000 703000 703000 703000 133000 810000 1740000
(66438) (66438) (66438) (66438) (66438) (66438) (66438) (111730) (169300) (188730)
(338430) (338900) (339330) (360800) (361230) (361700) (362130) (742123) (1242930) (1422900)
291363 291363 291363 290813 290813 290813 290813 (681373) (373300) 166230
(1) (10708) (10639) (11267)
280111 279663 279213 199732 166388 166118 163848 (708033) (611388) 118691
340738 823301 1103863 1304643 1473333 1646600 1817848 193834 234792 232208
803384 1083247 1364439 1364191 1730379 1896696 2062344 310667 406071 469388
384409 284983 229811

783438 1063101 1342313 1342043 1708433 1874330 2040398 (283033) 103337 224047
20 20 20 20 20 20 20 9 16 18
129313 129313 129313 129313 129313 129313 129313 87167 111896 122896
Checksum Checksum Checksum Checksum Checksum

201S 2016 2012 2013 2014 201S 2016
03 03
33 33
33 33
1000 00
330 330
30 30
13 13
30 30
30 30

238623 238623
218730 218730
187300 187300





406230 406230
2 2
93730 93730
38300 38300
38300 38300
38300 38300
38300 38300


247730 247730
3 3
73000 73000
34300 34300
34300 34300




144000 144000
3 3
93730 93730
33000 33000





148730 148730
2 2
100000 100000 Ok Ok Ok Ok Ok
77000 77000 Ok Ok Ok Ok Ok
77000 77000 Ok Ok Ok Ok Ok
Ok Ok Ok Ok Ok
Ok Ok Ok Ok Ok
Ok Ok Ok Ok Ok
Ok Ok Ok Ok Ok
234000 234000 Ok Ok Ok Ok Ok
3 3 Ok Ok Ok Ok Ok
136230 136230 Ok Ok Ok Ok Ok
31730 31730 Ok Ok Ok Ok Ok
49300 49300 Ok Ok Ok Ok Ok
49300 49300 Ok Ok Ok Ok Ok
44000 44000 Ok Ok Ok Ok Ok
Ok Ok Ok Ok Ok
Ok Ok Ok Ok Ok
331000 331000 Ok Ok Ok Ok Ok
3 3 Ok Ok Ok Ok Ok
1SS17S0 1SS17S0
20 20
130000 130000 Ok Ok Ok Ok Ok
90000 90000 Ok Ok Ok Ok Ok
1800000 1800000 Ok Ok Ok Ok Ok
2820000 2820000
(247730) (247730) Ok Ok Ok Ok Ok
(18000) (18000) Ok Ok Ok Ok Ok
(26S7S0) (26S7S0)
94 94
2SS42S0 2SS42S0
906 906
(144000) (144000) Ok Ok Ok Ok Ok
(148730) (148730) Ok Ok Ok Ok Ok
(9000) (9000) Ok Ok Ok Ok Ok
(12000) (12000) Ok Ok Ok Ok Ok
(9000) (9000) Ok Ok Ok Ok Ok
(322730) (322730) Ok Ok Ok Ok Ok
114 114
(406230) (406230) Ok Ok Ok Ok Ok
(234000) (234000) Ok Ok Ok Ok Ok
(331000) (331000) Ok Ok Ok Ok Ok
(36000) (36000) Ok Ok Ok Ok Ok
(18000) (21000) Ok Ok Ok Ok Ok
Ok Ok Ok Ok Ok
Ok Ok Ok Ok Ok
Ok Ok Ok Ok Ok
Ok Ok Ok Ok Ok
Ok Ok Ok Ok Ok
(1063230) (1068230) Ok Ok Ok Ok Ok
J78 J79
(46700) (34900) Ok Ok Ok Ok Ok
(1434700) (144S900)
1119SS0 11083S0
J97 J9J
11662S0 11632S0
414 41J
(1498) Ok Ok Ok Ok Ok
214 Ok Ok Ok Ok Ok
1118266 11083S0
J97 J9J
(1118266) (82687) Ok Ok Ok Ok Ok
1023663 Ok Ok Ok Ok Ok
(410263) Ok Ok Ok Ok Ok
1118266 69808S
J97 248
1103863 1817848 Ok Ok Ok Ok Ok
117300 117300 Ok Ok Ok Ok Ok
22146 22146 Ok Ok Ok Ok Ok
124SS09 19S7494
230000 291000 Ok Ok Ok Ok Ok
(131030) (183930) Ok Ok Ok Ok Ok
1189S0 10S0S0
Ok Ok Ok Ok Ok
13644S9 2062S44
Ok Ok Ok Ok Ok
22146 22146 Ok Ok Ok Ok Ok
22146 22146
Ok Ok Ok Ok Ok
22146 22146
1423000 1423000 Ok Ok Ok Ok Ok
(82687) 613398 Ok Ok Ok Ok Ok
1342313 2040398
13644S9 2062S44
Ok Ok
82687 Ok Ok Ok Ok Ok
1118266 698083 Ok Ok Ok Ok Ok
46700 34900 Ok Ok Ok Ok Ok
(37300) Ok Ok Ok Ok Ok
6417 Ok Ok Ok Ok Ok
(6417) Ok Ok Ok Ok Ok
Ok Ok Ok Ok Ok
1127466 7S298S
(3000)
(3000) (3000) Ok Ok Ok Ok Ok
(36000) (36000) Ok Ok Ok Ok Ok
(44000) (41000)
(229811) Ok Ok Ok Ok Ok
Ok Ok Ok Ok Ok
Ok Ok Ok Ok Ok
Ok Ok Ok Ok Ok
(229811)
2S2208 110S863
833633 711983 Ok Ok Ok Ok Ok
110S863 1817848
1083466 71198S


232208 1103863
(238623) (238623)
4464206 14946311

4464206 14946311




229811
(229811)

1498
2820000 2820000
(263730) (263730)
(1434700) (1443900)
1166230 1163230
(1498)
1118266 698083
1103863 1817848
1364439 2062344


1342313 2040398
20 20
129313 129313
ff Venture Cap|ta| StartupCo I|nanc|a| Mode|
(lo wbole u5u ossomes oo loflotloo)
WACC (SLC1lCn lnuLLnuLn1 Cl 8lMA8? MCuLL ?LLLCW CLLLS 8LLCW 8LCul8L lnulvluuAL lnu1S) (1)
8lsklree 8aLe (2) 19
MarkeL 8lsk remlum (3) 94
Comparable
llrm 1
Comparable
llrm 2
Comparable
llrm 3 Average
LqulLy 200000 200000 300000
uebL 100000 200000 200000
1ax 8aLe 400 330 380
Levered LqulLy 8eLa (4) 11 13 09
unlevered LqulLy 8eLa 08 08 06 07
SLarLup uebL 400
SLarLup LqulLy 600
SLarLup 1ax 8aLe 400
Levered LqulLy 8eLa 10
LqulLy 8lsk remlum 98
CosL of LqulLy 117
CosL of uebL 90
WelghLed Average CosL of CaplLal 92
valuaLlon
WelghLed Average CosL of CaplLal 92
1ermlnal value CrowLh 30
2012 2013 2014 201S
CperaLlng lncome (698873) (602430) 128330 1119330
1ax Lxpense
1axLffecLed L8l1 (Larnlngs 8efore lnLeresL) (698873) (602430) 128330 1119330
lus uepreclaLlon Lxpense 17300 28930 37900 46700
CaplLal LxpendlLures (60300) (31300) (44000) (44000)
Changes ln Worklng CaplLal (22000) (27300) (40000) (37300)
Changes ln CLher AsseLs LlablllLles
Un|evered Iree Cash I|ow (76387S) (6S2S00) 822S0 10847S0
resenL value of unlevered lree Cash llow (699343) (347224) 63170 762933
1erm|na| Va|ue 1367242
resenL value of 1ermlnal value 1030080
NV based on term|na| year 3 (133S17)
NV based on term|na| year S 766123S
(1) Chooslng WACC for an earlysLage sLarLup ls a hlghly arblLrary exerclse A good basellne ls Lo reflecL Lhe average l88 of angel lnvesLors Accordlng Lo Lhre
lnvesLors (hLLp//googl/Wcolw ) Lhese reLurns range from 1837 Lo 27 Lo 30
(2) lnlLlal placeholder based on Lhe 10?ear 1reasury ?leld as of 9/9/2011
(4) Avallable on ?ahoo! llnance under key SLaLlsLlcs for publlclyLraded companles
(3) lnlLlal placeholder based on Lhe dlfference beLween Lhe 19282010 arlLhmeLlc average reLurn of sLocks (uamodaran !anuary 2011) and Lhe 10?ear 1reas

1108330
(410263)
698083
34900
(41000)



438398

7623279
ff Venture Cap|ta| StartupCo I|nanc|a| Mode|
(lo wbole u5u ossomes oo loflotloo)
lounders
lrlends /
lamlly
Angel / Seed Serles A Serles 8 Serles C
lundlng 8ounds (SLC1lCn lnuLLnuLn1 Cl MCuLL 8LCul8LS lnulvluuAL lnu1S)
n|t|a| Iund|ng
LxlsLlng Common Shares 1000000
LxlsLlng referred Shares
LxlsLlng CpLlons CranLed
1ota| Cumu|at|ve Shares 1000000
kound 1
nvestment Do||ar Amount 200000 200000
AddlLlonal Common Shares
AddlLlonal referred Shares 240000 240000
AddlLlonal CpLlons CranLed 10000 10000
CumulaLlve Common Shares 1000000
CumulaLlve referred Shares 240000 240000
CumulaLlve CpLlons CranLed 10000 10000
1ota| Cumu|at|ve Shares 1000000 2S0000 2S0000
kound 2
nvestment Do||ar Amount 1000000
AddlLlonal Common Shares
AddlLlonal referred Shares 336000
AddlLlonal CpLlons CranLed 30000
CumulaLlve Common Shares 1000000
CumulaLlve referred Shares 240000 240000 336000
CumulaLlve CpLlons CranLed 10000 10000 30000
1ota| Cumu|at|ve Shares 1000000 2S0000 2S0000 366000
kound 3
nvestment Do||ar Amount
AddlLlonal Common Shares
AddlLlonal referred Shares
AddlLlonal CpLlons CranLed
CumulaLlve Common Shares 1000000
CumulaLlve referred Shares 240000 240000 336000
CumulaLlve CpLlons CranLed 10000 10000 30000
1ota| Cumu|at|ve Shares 1000000 2S0000 2S0000 366000
kound 4
nvestment Do||ar Amount
AddlLlonal Common Shares
AddlLlonal referred Shares
AddlLlonal CpLlons CranLed
CumulaLlve Common Shares 1000000
CumulaLlve referred Shares 240000 240000 336000
CumulaLlve CpLlons CranLed 10000 10000 30000
1ota| Cumu|at|ve Shares 1000000 2S0000 2S0000 366000
Serles u
CpLlons
Avallable
1oLal Shares
reMoney
valuaLlon
rlce / Share
1oLal
lnvesLmenL
osLMoney
valuaLlon
1000000

200000 200000
1200000
S00000 5042 400000 900000


480000
20000
1000000
480000
200000 200000
1680000
12S0000 5074 1000000 22S0000


336000
30000
1000000
816000
200000 200000
2016000
5000




1000000
816000
200000 200000
2016000
5000




1000000
816000
200000 200000
2016000