***THISAMENDMENT IS BEING FILED TO CORRECT THE REGISTRANT'S ADDRESS.**

 

SECURITIESAND EXCHANGE COMMISSION

Washington,D.C. 20549

 

FORM10-KSB

 

[X]ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE

SECURITIESEXCHANGE ACT OF 1934

 

[] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIESEXCHANGE ACT OF 1934

 

Forthe fiscal year ended: December 31, 2003

 

Commissionfile number 333-72230

 

ROYALPHOENIX

(Exactname of registrant as specified in its charter)

 

| **Nevada** **  **
 **88-0475757**
(State      or other jurisdiction of   
 (I.R.S.      Employer
incorporation      or organization)   
 Identification      No.)
 
**2950 E. Flamingo Rd., Suite B-A2**
**Las      Vegas, Nevada   **
** 89121**
(Address      of principal executive offices)   
 (zip      code)
 

Issuer'sTelephone Number: **(702) 866-5835**
 

Securitiesregistered under Section 12(b) of the Exchange Act:

None

 

Securitiesregistered under Section 12(g) of the Exchange Act:

None

(Titleif Class)

 

Indicateby check mark whether the registrant (a) has filed all reports required to befiled by Section 13 or 15(d) of the Securities Exchange Act of 1934 during thepreceding 12 months (or for such shorter period that the registrant was requiredto file such reports), and (b) has been subject to such filing requirements forthe past 90 days. Yes X No

 

Indicateby check mark if disclosure of delinquent filers pursuant to Item 405 ofRegulation S-B is not contained herein, and will not be contained, to the bestof registrant's knowledge, in definitive proxy or information statementsincorporated by reference in Part III of this Form 10-K or any amendment to thisForm 10-K. [ ]

Thenumber of shares of Common Stock, $0.001 par value, outstanding on February 4,2004, was 9,615,000 shares, held by 38 stockholders.

 

Theissuer's revenues for its most recent fiscal year ended December 31, 2003 were

$-0-.

 

Theaggregate market value of the 2,500,000 shares of voting and non-voting commonequity held by non-affiliates computed by reference to the price at which thecommon equity was last sold was $25,000 based on a share value of $0.01 as ofJune 2003. As of the date of the filing of this 10-KSB the issuer has appliedthrough a market maker, for trading its common stock on the Over-the-CounterBulletin Board.

 

TransitionalSmall Business Disclosure Format (check one): Yes No ___X__
**ROYALPHOENIX

(ADEVELOPMENT STAGE COMPANY)

FORTHE FISCAL YEAR ENDED

December31, 2003

 

Indexto Report

onForm 10-KSB

 

 **
PART      I   
 Page
 
Item      1. Business
 1
Item      2. Properties
 10
Item      3. Legal Proceedings
 10
Item      4. Submission of Matters to a Vote of Security Holders
 10
 
PART      II
 
Item      5. Market for Registrant's Common Equity and Related Stockholder      Matters
 11
Item      6. Plan of Operation
 12
Item      7 Financial Statements and Supplementary Data
 15
Item      8 Changes in and Disagreements With Accountants on Accounting and      Financial Disclosure
 15
Item      8A Controls and Procedures
 15
 
PART      III
 
Item      9 Directors and Executive Officers of the Registrant
 16
Item      10 Executive Compensation
 18
Item      11 Security Ownership of Certain Beneficial Owners and      Management
 18
Item      12 Certain Relationships and Related Transactions
 19
Item      13 Exhibits, Financial Statement Schedules and Reports on Form      8-K
 19
Item      14 Principal Accountant Fees and Services
 20
Thisform 10-KSB contains forward-looking statements within the meaning of thefederal securities laws. These forward-looking statements are necessarily basedon certain assumptions and are subject to significant risks and uncertainties.These forward-looking statements are based on management's expectations as ofthe date hereof, and the Company does not undertake any responsibility to updateany of these statements in the future. Actual future performance and resultscould differ from that contained in or suggested by these forward-lookingstatements as a result of factors set forth in this Form 10-KSB (including thosesections hereof incorporated by reference from other filings with the Securitiesand Exchange Commission), in particular as set forth in the "Plan ofOperation" under Item 6.

 

Inthis filing references to "Company," "we," "our,"and/or "us," refers to Royal Phoenix.

 
**PARTI**
 
**ITEM1. DESCRIPTION OF BUSINESS

 

(a)General Business Development**
RoyalPhoenix, a Nevada corporation, is a development stage company incorporated inNevada in October of 2000. Royal Phoenix was initially a wholly-owned subsidiaryof Desert Health Products, Inc. ("Desert Health Products"); however itwas decided by Desert Health Products to separate Royal Phoenix from DesertHealth Products. Under the terms and conditions of the Separation andDistribution Agreement entered into between Royal Phoenix and Desert HealthProducts on October 18, 2000, as amended June 22, 2001, Royal Phoenix agreed toissue 10,000 shares of common stock of Royal Phoenix to Desert Health Products.

 

RoyalPhoenix is a provider of herbal products via internet sales. Under the terms andconditions of a "License, Manufacture and Distribution Agreement,"executed between Desert Health Products and Royal Phoenix on October 18, 2000,Desert Health Products will continue to manufacture, package, ship, and handlecredit card processing of Royal Phoenix products. This relationship will allowRoyal Phoenix to concentrate on the marketing of herbal products. In addition,Royal Phoenix may pursue and market other vitamin products which will be privatelabeled specifically for Royal Phoenix by companies other than Desert HealthProducts.

 

RoyalPhoenix has an authorized capitalization of 20,000,000 shares of common stock,$0.001 par value per share, and as of December 31, 2003 there were 9,615,000shares outstanding. Royal Phoenix also has an authorized capitalization of5,000,000 shares of preferred stock at a par value of $0.001 per share, and asof December 31, 2003 there were no shares outstanding.

 

Theaccompanying consolidated financial statements have been prepared in conformitywith generally accepted accounting principles that contemplate the continuanceof the Company as a going concern. The Company's cash position may be inadequateto pay all of the costs associated with testing, production and marketing ofproducts. Management intends to use borrowings and security sales to mitigatethe effects of its cash position, however, no assurance can be given that debtor equity financing, if and when required will be available. The financialstatements do not include any adjustments relating to the recoverability andclassification of recorded assets and classification of liabilities that mightbe necessary should the Company be unable to continue existence.

 

1
**(b)Our Business

 **
Weare establishing Royal Phoenix as an online retail store and information sourcefor vitamins, supplements, minerals and other natural and healthy livingproducts. When our website is complete, we intend to offer an online store atwww.royalphoenix.com with our private labeled products on our site and wherecustomers can special order additional products through other suppliers. Throughour integration of content and commerce, we intend to provide educational andauthoritative news and information about our products and healthy living ingeneral, which we plan to integrate with our product offerings in an easilyaccessible way. Our online store is intended to provide one-stop shopping fordomestic and international customers 24 hours a day, seven days a week and isbeing designed to feature a convenient, easy to navigate interface, competitivepricing, extensive product information and powerful search capabilities. Thisphase of our business plan is based upon our raising approximately $100,000.Upon receipt of such capital we anticipate the site to be operational withinfour to six months. We are prepared to contract with a to be determined outsidewebmaster for the creation and support of our website; however our contractrelationship will not commence until completion of our funding.

 

Ourbusiness model is intended, upon implementation, to take advantage of the uniquecharacteristics of the Internet, which has become an increasingly significantglobal medium for communication, information and commerce. We believe theincreased usage of the Internet is due to a number of factors, including a largeinstalled base of personal computers, advances in the speed of personalcomputers and modems, easier and cheaper access to the Internet, improvements innetwork security, infrastructure and bandwidth, a broader range of onlineofferings and growing consumer awareness of online shopping.

 

Weintend to build a small retail business beyond the traditional retail market.Our initial business plan to establish a business beyond the retail marketconsists of a business incentive program, whereby we may establish relationshipswith primary care physicians, alternative health providers, corporate healthplans, physician networks, wellness centers, and health clubs. To facilitatethis business model we are looking to:

 
-  provide    broad distribution of our products to small natural products manufacturers;create    a forum that will allow small retailers to easily and efficiently order    products from small manufacturers; andcreate    a branded online storefront for small natural products retailers.
Basedupon our research over the past couple of years, we believe that several factorsare driving the growth in health and wellness products, including a rapidlygrowing segment of the population that is concerned with aging and disease, agrowing interest in preventative health care, favorable consumer attitudestoward natural products and a generally favorable regulatory statute, theDietary Supplement Health and Education Act of 1994. Additionally, publicawareness of the positive effects of vitamins and other nutritional supplementson health has been heightened by widely publicized reports of favorable researchfindings.

 

2

Thevitamins, supplements and minerals market is a subset of the broader naturalproducts market, which includes product categories such as personal careproducts, household and other general merchandise, perishable and non-perishable foods, organic coffees and teas, sports nutrition, cosmetics, andbaby care products. Due to the size of this market and our perception of theabsence of a dominant online natural products retailer, we believe thatadditional opportunities for online sales within the broader natural productsmarket also exist.

 

Webelieve that traditional retailers of vitamins, supplements, minerals and othernatural and healthy living products face several challenges in providing asatisfying shopping experience for consumers, including:

 
-  Lack    of information and product guidance. The typical retail shopping    experience can be confusing and often lacks timely, relevant and credible    information to educate and guide the consumer to an effective product    solution. In particular, retail stores offer consumers more limited means to    choose among many products or to select the appropriate product for a given    condition other than by asking store personnel who may not be knowledgeable.    Further, researching a product or health condition in a retail store can be    difficult due to the lack of easily accessible reference materials.Lack    of convenience and privacy. Traditional retailers have limited store    hours and locations. Traditional retailers are also unable to provide    consumers with privacy while shopping, as consumers must often reveal    personal health conditions when asking store personnel for product advice.Limited    product assortment. The capital and real estate intensive nature of    store-based retailers limit the product selection that can be economically    offered in each store location.
Asa result of the foregoing limitations, we believe there is significant un-metdemand for an alternative shopping channel that can provide consumers ofvitamins, supplements, minerals and other natural and healthy living goods witha broad array of products, a wealth of information to help them research andselect products and a convenient and private shopping experience.

 

Inaddition, we believe that there is an opportunity to assist small natural andhealthy living products retailers and manufacturers in addressing thesechallenges by providing an information-rich, convenient, private, onlineshopping mechanism to these retailers to offer to their customers and to use intheir procurement of goods for sale.

 

Ourlong term (3-5 year) ultimate objective is to establish RoyalPhoenix.com as aleading online source for vitamins, supplements, minerals and other natural andhealthy living products. In order to meet these objectives we need to:

 

3
-  offer    a broad selection of natural, earth-friendly products;operate    as a solution-based Internet retailer and wholesaler by integrating content    and commercial capabilities:own    our fulfillment and customer service operations; anddevelop    our business beyond the retail market to address the needs of natural and    healthy living products retailers and manufacturers.
Wehave expended significant research time in establishing the various aspects ofour online store. Over the next twelve months we intend to have established andlaunch a fully functional website. When complete the visitors to our store willbe greeted by a welcoming home page, which will offer them a list of productdepartments, merchandising messages, and a selection of best selling anddiscounted items. In addition, any special offers available for new customerswill be displayed on the home page.

 

Returningvisitors will view top-level links to various offers, including new products,hot products, and deep discounts, as well as single-click access to our shoppingdepartments, library, and community areas.

 

Uponcompletion of our website there will be several major subsections of the site:"home," with product features and links to other sections of the site;"shop," our store; "library," which contains a wealth ofcontent, including web-enabled content from specific health care book vendorsplus numerous articles on other natural and healthy living products;"community," with horoscopes and topical message boards and answers tofrequently asked questions; and "MyRoyalAccount," which providesaccess to a personalized supplement planner, a customer's account, order status,order history, shopping lists, and other information. Each section will beorganized to facilitate the customer's navigation.

 

Forexample, our website is intended to be designed to allow consumers to be able toshop in four ways:

 
-  By    Department. Consumers will be able to search for products among limited    product departments on our Web site, such as Vitamins, Herbs & More,    Natural Therapies, and Books & Entertainment.By    Gender/Age. Consumers will be able to search for products and read    articles specific to their gender or age among four main categories: Men's    Health, Women's Health, Children's Health and Seniors' Health.By    Ailment. Consumers will be able to search for products related to the    more common ailments or be able to search other health concerns included in    a "Concerns From A-Z" category.By    Brand. Consumers will be primarily directed in the Royal Phoenix brand,    however we intend to carry other brands and allow our users to be able to    search for other brands and browse various categories of products, which are    provided for each listed brand.
4

Includedwithin our next twelve months of development, our website is being designed tooffer several personalized services. Our Personal Supplement Planner, to belocated in the "MyRoyal Account" section of the website, will allow acustomer, upon registration, to answer a number of health and lifestyle-relatedquestions and receive in response a recommended supplement regimen to supporttheir lifestyle and nutritional needs.

 

Wehave also been evaluating the concept of a "Life-Plan flyer," ane-mail newsletter that would be sent to subscribers who have opted to receiveoffers would be personalized with several product offerings, selected based oncertain criteria, including past purchase history and news clipping selections.

 

Additionally,as currently designed, and once implemented, our site is intended to offerconsumers an easy and convenient shopping experience. Consumers will simplyclick on a button to add products to their virtual shopping baskets. As theybrowse, consumers will be able to add and subtract products from their shoppingbaskets prior to making a final purchase decision. As part of our merchandisingefforts, we will offer promotional discounts on selected products from time totime, which will primarily be our own Royal Phoenix line of products. We willdeduct these promotional discounts from the purchase price of products,eliminating the need to cut coupons. To submit orders, customers click on the"Proceed to Check Out" button and prompted to supply shipping andcredit card details online. A variety of shipping options will be offered andlarge orders will receive shipping discounts. Upon their first order, everyRoyalPhoenix.com customer will be assigned a password-accessible personalaccount number. This "My Royal Account" function allows customers toeasily view current order status, previous order contents and to select pastorders for one-click reorders.

 

Oursite is also intended to offer a wealth of authoritative and educationalcontent. We believe that our integration of content and commerce will result ina more rewarding shopping experience for consumers. We have proposed thedevelopment of a library on our site that will include content from health carebooks as well as articles, news clips and encyclopedia entries from theEncyclopedia of Natural Health and narratives on health conditions, naturalremedies, products and recent developments, all of which are being designed toprovide credible information and assist consumers with their purchase decisions.We believe a key component of our merchandising strategy will be our ability tolink relevant product offerings throughout the text of the various articles,encyclopedia entries and other narratives displayed on our website.

 

Weintend to incorporate a number of books on vitamins, supplements, minerals,natural healing, alternative medicine, home health and cooking as columns fromrecent issues of health care magazines as part of a topic sensitive,cross-indexed central library on our site. Consumers will be able to search forinformation on specific topics and link to relevant excerpts or entire textentries from health care books. The Encyclopedia of Natural Health is based oncontent which we are in the process of evaluating as a license from Healthnotes,Inc. and incorporates information gathered from over 500 authoritativescientific and medical journals, such as The Journal of the American MedicalAssociation, the Lancet and the New England Journal of Medicine.

 

5

Ourmarketing strategy is being designed to develop the RoyalPhoenix.com brand name,develop traffic to the RoyalPhoenix.com store, build strong customer loyalty,maximize repeat purchases and develop incremental revenue opportunities.

 

PhaseII of our Plan is to implement our online strategy involving selectiveadvertising on the websites of major Internet content and service providers(like Google & Yahoo) and targeted health-related websites. This Phase willrequire the hiring of an internal advertising executive within the Company, oran outside firm with which we can work closely, such as Hall Communications ofLas Vegas, Nevada. We do not anticipate commencing this phase until such time aswe have raised our Phase II operation advertising funds of approximately$500,000.

 

ThisPhase will be highly dependent on the successful completion of Phase I and thereceipt of additional capital. We have experienced extreme difficulty in thepast in raising capital; however, we anticipate our ability to raise capital toincrease based upon receipt of a trading symbol for the OTC:BB. We wouldanticipate Phase II of our plan to commence in physical 2005.

 

Onceour website is fully operational, we intend to supply products from severaldistributors and manufacturers. Any such distributor or wholesaler will need tohave the capacity of drop shipping, as we do not intend to inventory product, atleast initially. We plan to market and distribute merchandise from a number ofnational brands, and we also plan to focus on our own private label brand, RoyalPhoenix. Through our research we have determined that there are a number ofprivate label companies willing to create products for our business plan.

 

Duringthe next twelve months, as part of our Phase I we intend to finalize arelationship with a person or entity that we can outsource the development ofour website and who will implement a broad array of Web site management, searchengine, customer support, order processing and order fulfillment systems.

 

Weintend to subcontract the hosting of our website to Earthlink, an Internetservice provider with which we have had discussions. Earthlink provides Internetconnections to multiple Internet access points, a secure physical environment,climate control, redundant power and 24 hours a day, seven days a weekmonitoring services. Earthlink has multiple connections to the Internet throughseparate high bandwidth service providers, and these connections can be expandedas necessary to handle any traffic and demands of our site.

 
**Costand Availability of Raw Materials**
 

Manyof the ingredients contained in our products are not commodities, so price riskcannot be hedged with traditional futures contracts. In addition, some of theseplants are picked in the wild, rather than farm cultivated, resulting in ahighly unstable supply. This uncertain supply, in combination with thepossibility of continued increases in demand, could result in significantincreases in the price of the raw materials. In addition, if due to supplyshortages Royal Phoenix is unable to meet the demand of its customers, even iffor a short time, the result could be a long-term decrease in sales of itsProducts. Our ability to increase the price of our licensed products to adjustfor increases in raw material costs is limited and there can be no assurancethat an adequate supply of ingredients will be available to us and on termscommercially viable to us in order for us to meet supply obligations to ourcustomers. There can be no assurance that raw materials will continue to beavailable on terms commercially reasonable to us.

6
**RiskManagement Insurance

 **
Wedo not maintain a liability insurance program as we have not commenced thedistribution of products to the general public or others except by way of sampleproducts. Our proposed insurance program, once implemented, will includeproperty, casualty, comprehensive general liability and products liabilitycoverage. Management believes that the proposed insurance program will beadequate when implemented. The testing, marketing and sale of health careproducts entail an inherent risk of product liability. There can be no assurancethat product liability claims, relating to dietary supplement products, will notbe asserted against us, Desert Health Products, its collaborators or itslicensees. There can be no assurance that we will be able to maintain suchproduct liability insurance in assignments from various manufacturers or obtainadditional insurance, during clinical trials or upon commercialization of anyproduct, on acceptable terms, if at all, or that such insurance will provideadequate coverage against any potential dietary supplement claims. A productliability claim or product recall, relating to dietary supplement products,could and most likely would have a material adverse effect on our business,financial condition or results of operations.

 
**IndustryOverview**
 

Theworldwide market for natural dietary supplements is substantial. According tothe Dietary Supplement Information Bureau, "Surveys find that the majorityof Americans rely on dietary supplements to maintain good health. As a result,the dietary supplement industry generates billions of dollars in sales annually,making it one of the most dynamic sectors of the U.S. economy."

 
**Sourceand Availability of Raw Materials**
 

Theprincipal raw materials used in the manufacturing process of the productsintended to be distributed by Royal Phoenix are natural ingredients purchasedfrom distributors primarily in the United States, with certain materialsimported from other countries. We believe that at this time the materialspurchased from its suppliers are readily available from numerous sources andthat the loss of these suppliers would not adversely affect our intendedoperations.

 
**QualityControl**
 

Finishedproduction capsules are purchased from manufacturing operations, which includemodern quality control laboratories and testing facilities. When products areready for bottling, automated equipment counts the tablets or capsules, insertsthem into bottles, applies a cap, which includes a tamper-resistant inner seal,affixes a label and adds a tamper-resistant outer safety seal. All of this isdone according to Good Manufacturing Practice regulations (GMP) for dietarysupplements.

 

7
**Competition**
Themarket for vitamins and other nutritional supplements is highly competitive inall of our channels of potential distribution. The marketplace for private labelbusiness is extremely price sensitive with service levels, quality, innovativepackaging, marketing and promotional programs and uniqueness of products beingthe key factors influencing competitiveness.

 

Webelieve that there are also numerous companies competing for nutritional productlines on the Internet. As most companies are privately held, we are unable toprecisely assess the size of competitors. Since we have recently establishedoperations, most competitors are substantially larger than us and have greaterfinancial resources.
** 

GovernmentRegulation**
 

Theprocessing, formulation, packaging, labeling and advertising of our products aresubject to regulation by one or more federal agencies, including the FDA, theFederal Trade Commission, the Consumer Product Safety Commission, the UnitedStates Department of Agriculture and the United States Environmental ProtectionAgency. These activities are also regulated by various agencies of the states,localities, and countries in which our products are sold. In addition, DesertHealth Products manufactures certain of our products in compliance with theguidelines promulgated by the United States Pharmacopoeia Convention, Inc.("USP") and other voluntary standard organizations.

 

TheDietary Supplemental Health and Education Act ("DSHEA") recognizes theimportance of good nutrition and the availability of safe dietary supplements inpreventive health care. DSHEA amends the Federal Food, Drug and Cosmetic Act bydefining dietary supplements, which include vitamins, minerals, nutritionalsupplements and herbs, as a new category of food, separate from conventionalfood. Under DSHEA, the FDA is generally prohibited from regulating such dietarysupplements as food additives or drugs. It requires the FDA to regulate dietarysupplements so as to guarantee consumer access to beneficial dietarysupplements, allowing truthful and proven claims. Generally, dietary ingredientsthat were on the market before October 15, 1994 may be sold without FDApre-approval and without notifying the FDA. However, new dietary ingredients(those not used in dietary supplements marketed before October 15, 1994) requirepremarket submission to the FDA of evidence of a history of their safe use, orother evidence establishing that they are reasonably expected to be safe. Therecan be no assurance that the FDA will accept the evidence of safety for any newdietary ingredient that we or Desert Health Products may decide to use, and theFDA's refusal to accept such evidence could result in regulation of such dietaryingredients as food additives, requiring the FDA pre-approval based on newlyconducted, costly safety testing. Also, while DSHEA authorizes the use ofstatements of nutritional support in the labeling of dietary supplements, theFDA is required to be notified of such statements, and there can be no assurancethat the FDA will not consider particular labeling statements used by RoyalPhoenix to be drug claims rather than acceptable statements of nutritionalsupport, necessitating approval of a costly new drug application, or relabelingto delete such statements.

 

8

DSHEAalso authorizes the FDA to promulgate good manufacturing practice regulations("GMP") for dietary supplements, which would require special qualitycontrols for the manufacture, packaging, storage and distribution ofsupplements. We believe that Desert Health Products facilities and those ofindependent third party manufacturers have completed significant facilityrenovations that should allow the Company to comply with the new regulations.DSHEA further authorizes the FDA to promulgate regulations governing thelabeling of dietary supplements, including claims for supplements pursuant torecommendations made by the Presidential Commission on Dietary SupplementLabels. Such rules, which were issued on September 23, 1997, entail specificrequirements relative to the labeling of the Company's dietary supplements. Therules also require additional record keeping and claim substantiation,reformulation, or discontinuance of certain products, which could have amaterial expense to us.

 

Inaddition, we cannot predict whether new legislation or regulations governing ouractivities or those of Desert Health Products will be enacted by legislativebodies or promulgated by agencies regulating our activities, or what the effectof any such legislation or regulations on our business would be.

 
**Researchand Development**
 

RoyalPhoenix, being a start up operation, does not conduct primary research for thedevelopment of new ingredients. Instead, Royal Phoenix research efforts arefocused on relying on new products developed by private labeling firms, and willin the future develop new products and packaging in response to market trendsand consumer demands. We intend to continually reformulate existing RoyalPhoenix products in response to changes in nationally advertised brand formulasin order to maintain product comparability.

 

Webelieve that flexibility and innovation with respect to new products will becrucial factors in competing for market share in the field of nutritionalsupplements. By monitoring market trends and by avoiding short-lived"fad" items, we believe we will be able to anticipate significantconsumer demand for certain types of products. Our plan is to monitor theindustry by analyzing reports such as the Dietary Supplement Barometer Survey,which tracks American attitudes and beliefs about vitamins, minerals, herbs andspecialty supplements. Information gathered in the survey quizzed the knowledgelevel of respondents about supplementation, finding that while Americansregularly incorporate supplements into their health care regiments, many coulduse more information about the benefits and responsible usage of these products.By utilizing information provided in surveys similar to the Dietary SupplementBarometer Survey, in addition to surveys which we may conduct independently inthe future, we will be in a position to understand which products have atendency to be short lived "fads."
*** *
Employees

 **
Weare a development stage company and currently have one part time employee, whichis Joseph Scott Wilson, our sole officer and director. We look to Mr. Wilson forhis entrepreneurial skills and talents. We plan to use consultants, attorneysand accountants as necessary and do not plan to engage any full-time employeesin the near future. We believe the use of non-salaried personnel allows us toexpend our capital resources as a variable cost as opposed to a fixed cost ofoperations. In other words, if we have insufficient revenues or cash available,we are in a better position to only utilize those services required to generaterevenues as opposed to having salaried employees. We may hire marketingemployees based on the projected size of the market and the compensationnecessary to retain qualified sales employees. A portion of any employeecompensation likely would include the right to acquire our stock which woulddilute the ownership interest of holders of existing shares of our common stock.In order to substantially impact our revenues we will require additionalpersonnel. These personnel will be added to our management when funds areavailable. We anticipate such availability to be after 12 months.

 

9
**ITEM2. DESCRIPTION OF PROPERTY**
 

Wecurrently maintain a mailing address at 2950 E. Flamingo Rd., Suite B-A2, LasVegas, NV 89121. Our yearly rent of $180 is pre-paid annually. Additionally, Mr.Wilson, our sole officer and director, occasionally will utilize his residenceto conduct business on our behalf. Mr. Wilson does not receive any remunerationfor the use of his residence or time spent on behalf of us. We do not believethat we will need to obtain additional office space at any time in theforeseeable future, approximately 12 months, until our business plan is morefully implemented.

 

Asa result of our method of operations and business plan we do not requirepersonnel other than Mr. Wilson, to conduct our business. In the future weanticipate requiring additional office space and additional personnel; howeverit is unknown at this time how much space or how many individuals will berequired.

 
**ITEM3. LEGAL PROCEEDINGS**
 

Weare not presently a party to any material litigation, nor to the knowledge ofmanagement is any litigation threatened against us which may materially affectus.

 
**ITEM4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS**
 

Nomatters were submitted to a vote of security holders, through the solicitationof proxies or otherwise, during the fourth quarter of the fiscal year endedDecember 31, 2003.

 

10
**PART    II
**ITEM5. MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS**
 
**(a)Market Information**
 

Thereis currently no public market for our securities. We have submitted, through amarket maker, for inclusion of our common stock on the National Association ofSecurities Dealers, Inc. Over-the-Counter Bulletin Board; however, there can beno assurance that NASD will approve the inclusion of the common stock.

 
**(b)Holders of Common Stock**
 

Asof December 31, 2003, we had 38 shareholders of record of the 9,615,000 sharesoutstanding.
** 

(c)Dividends**
 

Wehave never declared or paid dividends on our Common Stock. We intend to follow apolicy of retaining earnings, if any, to finance the growth of the business anddo not anticipate paying any cash dividends in the foreseeable future. Thedeclaration and payment of future dividends on the Common Stock will be the solediscretion of the Board of Directors and will depend on our profitability andfinancial condition, capital requirements, statutory and contractualrestrictions, future prospects and other factors deemed relevant.
** 

RecentSales of Unregistered Securities**
 

OnJuly 30, 2003, we approved a forward stock split on the basis of 10 for 1.

 

DuringAugust 2003, the Company issued the sole officer and director of the Company15,000 shares of common stock at $0.10 per shares for conversion of a notepayable to equity of $1,500. The shares were deemed to have been issued pursuantto an exemption provided by Section 4(2) of the Act, which exempts fromregistration "transactions by an issuer not involving any publicoffering."

 
**Useof Proceeds From Registered Securities

 **
OurRegistration Statement on Form SB- 2 (File No. 333-72230), related to ourinitial public offering, was declared effective by the SEC on December 30, 2002.A total of 250,000 shares of our Common Stock was registered with the SEC withan aggregate offering price of $25,000. All of these shares were registered onour behalf. The offering commenced in June 2003, and all shares of common stockoffered were sold for the aggregate offering price directly by the Company withno commissions paid on funds raised.

 

11

Weincurred offering expenses of approximately $6,000 in connection with theoffering. Thus the net offering proceeds to us (after deducting offeringexpenses) were approximately $19,000. No offering expenses were paid directly orindirectly to any of our directors or officers (or their associates), personsowning ten percent (10%) or more of any class of our equity securities or to anyother affiliates.

 

Asof December 31, 2003, $4,500 of the net proceeds had been used for legal,accounting and transfer agent expenses. The remaining $14,500 of the netproceeds remain in the Company's operating account pending future use.

 
**ITEM6. PLAN OF OPERATION**
 

Thisreport contains forward-looking statements. Actual results and events coulddiffer materially from those projected, anticipated, or implicit, in theforward-looking statements as a result of the risk factors set forth below andelsewhere in this report.

 

Withthe exception of historical matters, the matters discussed herein areforward-looking statements that involve risks and uncertainties. Forward-lookingstatements include, but are not limited to, statements concerning anticipatedtrends in revenues and net income, the date of introduction or completion of ourproducts, projections concerning operations and available cash flow. Our actualresults could differ materially from the results discussed in suchforward-looking statements primarily as the result of insufficient cash topursue production and marketing efforts. The following discussion of ourfinancial condition and results of operations should be read in conjunction withour financial statements and the related notes thereto appearing elsewhereherein.
**    

Overview**
 

RoyalPhoenix, which was incorporated in Nevada in October 2000, is a DevelopmentStage Company, engaged in the business of marketing and distributing RoyalPhoenix, a line of herbal products. The Royal Phoenix herbal product line wasdeveloped by Desert Health Products several years ago, however, the productline, after development, was not marketed.

 

Wehave a limited operating history and have not generated revenues from the saleof any products. Our company and products are the result of an agreement, whichwas entered into between Royal Phoenix and Desert Health Products, whichresulted in the separation from Desert Health Products of the Royal Phoenix lineof herbal products developed by Desert Health Products. Our activities have beenlimited to the negotiation of a license agreement and preliminary marketanalysis, capital raising and placing the Company in a position of raisingadditional capital once the Company's securities are quoted. Consequently, wehave incurred the expenses of start-up. Future operating results will depend onmany factors, including our ability to raise adequate working capital, demandfor our products, the level of competition and our ability to deliver productswhile maintaining quality and controlling costs. As a result of our lack ofliabilities, our current cash position allows us to maintain a status quoposition for a period of approximately six months. However; this position willnot allow us to pursue any significant business opportunity.

 

12
**Plan ofOperation

 **
Initially,Royal Phoenix commenced operations as a division of a vitamin company, whichultimately spun from the parent. Since this occurred near 9/11, and the middleof a down market, the business plan of Royal Phoenix initially stalled, then wechose to move forward with the small amount of capital we acquired throughprivate placements and our SEC registration. What we have achieved with thesmall amount of capital is the development of what we believe to be a fairlyunique business model combining the information and technology explosioncurrently happening in the dietary supplement and nutraceutical industries withthe need for information and products for health and wellness. There are severalphases of our business model based upon anticipated capital commitments and theactual receipt of capital. Based upon our receipt of capital, certain Milestoneswill be triggered. Since we are currently in a so-called quiet mode until ourcompleted review by NASD, we are on hold in terms of raising capital necessaryto proceed with our next Phase.

 

Wehave suffered start-up losses and have limited working capital, which raisessubstantial concern regarding our ability to continue as a going concern.

 
***Satisfactionof our cash obligations for the next 12 months. Our plan of operation isto establish an operational website as soon as practical. When havingestablished our website as operational, and raising funds under our Phase II, weare to commence advertising through selected internet banner advertising.

 
***Summaryof any product research and development that we will perform for the term of theplan. We do not anticipate performing any significant product researchand development under our plan of operation. In lieu of product research anddevelopment we anticipate maintaining control over our advertising, especiallyon the Internet, to assist us in determining the allocation of our limitedadvertising dollars.
*** 

Expectedpurchase or sale of plant and significant equipment. We do notanticipate the purchase or sale of any plant or significant equipment, as suchitems are not required by us at this time or in the next 12 months.
*** 

Significantchanges in number of employees. The number of employees required tooperate our business is currently one part time individual. After we commencegenerating revenues based upon the expenditures of our advertising dollars, andword of mouth advertising, and at the end of the initial 12 month period, ourplan of operation anticipates our requiring additional capital to hire at leastone full time person.

 

Milestones

 

Asa result of our being a development stage company with minimal amounts of equitycapital initially available, approximately $38,500, we have set our goals forthis year in two distinct states: goals based upon our receipt of funding in theamount of $100,000; and goals based upon receiving approximately $500,000.

 

13

StageI:
-  Raise    approximately $100,000;Hire    webmaster to set up the online retail store and information source for    vitamins, supplements, minerals and other natural and healthy living    products; and,Subcontract    the hosting of our website;Develop    and contract for our private label products;Include    within the website educational and authoritative news and information about    products and healthy living in general.
StageII:
-  Raise    approximately $500,000;Purchase    a stockpile of our private label products;Hire    an advertising executive; and,Implement    our online strategy involving selective advertising on the websites of major    Internet content and service providers (like Google & Yahoo and targeted    health-related websites**Liquidityand Capital Resources**
 

Sinceinception, we have financed our cash flow requirements through the issuance ofcommon stock which has resulted in our receipt of $38,500. As we expand ouractivities, we may continue to experience net negative cash flows fromoperations, pending receipt of sales revenues. Additionally we anticipateobtaining additional financing to fund operations through common stock offeringsand bank borrowings, to the extent available, or to obtain additional financingto the extent necessary to augment our working capital.

 

Overthe next twelve months we believe that existing capital and anticipated fundsfrom operations will be sufficient to sustain operations and planned expansion.However, in order to expand our business operations we will be required to seekadditional capital in the future to fund growth and expansion through additionalequity or debt financing or credit facilities. No assurance can be made thatsuch financing would be available, and if available it may take either the formof debt or equity. In either case, the financing could have a negative impact onour financial condition and our Stockholders.

 

Weanticipate incurring operating losses over the next twelve months. Our lack ofoperating history makes predictions of future operating results difficult toascertain. Our prospects must be considered in light of the risks, expenses anddifficulties frequently encountered by companies in their early stage ofdevelopment. Such risks include, but are not limited to, an evolving andunpredictable business model and the management of growth. To address theserisks we must, among other things, obtain a customer base, implement andsuccessfully execute our business and marketing strategy, continue to developand upgrade technology and products, respond to competitive developments, andattract, retain and motivate qualified personnel. There can be no assurance thatwe will be successful in addressing such risks, and the failure to do so canhave a material adverse effect on our business prospects, financial conditionand results of operations.

 

14
**GoingConcern**
 

Theconsolidated financial statements included in this filing have been prepared inconformity with generally accepted accounting principles that contemplate thecontinuance of the Company as a going concern. The Company's cash position maybe inadequate to pay all of the costs associated with production and marketing.Management intends to use borrowings and security sales to mitigate the effectsof its cash position, however no assurance can be given that debt or equityfinancing, if and when required will be available. The financial statements donot include any adjustments relating to the recoverability and classification ofrecorded assets and classification of liabilities that might be necessary shouldthe Company be unable to continue existence.

 
**ITEM7. FINANCIAL STATEMENTS**
 

SeeIndex to Financial Statements and Financial Statement Schedules appearing onpage F-1 through F-10 of this Form 10-KSB.

 
**ITEM8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIALDISCLOSURE**
Wehave not had any disagreements with our independent auditor on accounting orfinancial disclosures.
** 

ITEM8A. CONTROLS AND PROCEDURES**
 

Weare a development stage company with no revenues and our sole officer anddirector has responsibility for our internal controls and procedures over ourfinancial reporting.

 

Wehave implemented and maintain disclosure controls and procedures which consistof: the control environment, risk assessment, control activities, informationand communication and monitoring. Our scope of internal control, therefore,extends to policies, plans, procedures, processes, systems, activities,initiatives, and endeavors required of a company with our limited transactions,revenues, expenses, and operations. These controls and procedures are designedto ensure that the information required to be disclosed in our Exchange Actreports is recorded, processed, summarized and reported within the time periodsspecified in the SEC's rules.

 

Therehave been no significant changes (including corrective actions with regard tosignificant deficiencies or material weaknesses) in our internal controls or inother factors that could significantly affect the controls subsequent to thedate of the evaluation referenced below.

 

Within90 days prior to the date of this report, we carried out an evaluation, underthe supervision of our sole officer and director, of the effectiveness of thedesign and operation of the Company's disclosure controls and procedures. Basedon the foregoing, our sole officer and director concluded that, given theCompany's limited operations, our disclosure controls and procedures wereeffective.

 

15
**PARTIII**
 
**ITEM9 DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL PERSONS; COMPLIANCE WITHSECTION 16(A) OF THE EXCHANGE ACT**
Thefollowing table sets forth the name and position of the executive officer anddirectors of the Company. Directors will be elected at our annual meeting ofstockholders and serve for one year or until their successors are elected andqualify. Officers are elected by the Board and their terms of office are, exceptto the extent governed by employment contract, at the discretion of the Board.

 
**Name**Age**Positions      and Offices held
Joseph      Scott Wilson
36
President,      Secretary, Treasurer and Director** 

Duties,Responsibilities and Experience

 

JosephScott Wilson is the President, Secretary/Treasurer and Director of RoyalPhoenix. Mr. Wilson has been self-employed in various building trades in LasVegas, Nevada since 1994. While working in the building trades Mr. Wilsonacquired a usefulness and education on herbal products. Mr. Wilson's knowledgeof the herbal products created his interest in developing a method of marketingherbal products through the Internet and other retail channels.

 
**Limitationof Liability of Directors

 **
Pursuantto the Nevada General Corporation Law, our Articles of Incorporation excludepersonal liability for our Directors for monetary damages based upon anyviolation of their fiduciary duties as Directors, except as to liability for anybreach of the duty of loyalty, acts or omissions not in good faith or whichinvolve intentional misconduct or a knowing violation of law, or any transactionfrom which a Director receives an improper personal benefit. This exclusion ofliability does not limit any right which a Director may have to be indemnifiedand does not affect any Director's liability under federal or applicable statesecurities laws. We have agreed to indemnify our directors against expenses,judgments, and amounts paid in settlement in connection with any claim against aDirector if he acted in good faith and in a manner he believed to be in our bestinterest.

 
**Section16(a) Beneficial Ownership Reporting Compliance**
 

Section16(a) of the Securities Exchange Act of 1934, as amended (the "ExchangeAct"), requires executive officers and directors, and persons whobeneficially own more than ten percent of an issuer's common stock, which hasbeen registered under Section 12 of the Exchange Act, to file initial reports ofownership and reports of changes in ownership with the SEC

 

16

Asa company with securities registered under Section 15(d) of the Exchange Act,our executive officers and directors, and persons who beneficially own more thanten percent of our common stock are not required to file Section 16(a) reports.

 
**AuditCommittee and Financial Expert

 **
Wedo not have an Audit Committee, Joseph Scott Wilson, our sole director, performssome of the same functions of an Audit Committee, such as: recommending a firmof independent certified public accountants to audit the annual financialstatements; reviewing the independent auditors independence, the financialstatements and their audit report; and reviewing management's administration ofthe system of internal accounting controls. The Company does not currently havea written audit committee charter or similar document.

 

Wehave no financial expert. We believe the cost related to retaining a financialexpert at this time is prohibitive. Further, because of our start-up operations,we believe the services of a financial expert are not warranted.
** 

Codeof Ethics

 **
Acode of ethics relates to written standards that are reasonably designed todeter wrongdoing and to promote:
-  Honest    and ethical conduct, including the ethical handling of actual or apparent    conflicts of interest between personal and professional relationships;Full,    fair, accurate, timely and understandable disclosure in reports and    documents that are filed with, or submitted to, the Commission and in other    public communications made by an issuer;Compliance    with applicable governmental laws, rules and regulations;The    prompt internal reporting of violations of the code to an appropriate person    or persons identified in the code; andAccountability    for adherence to the code.
Wehave not adopted a corporate code of ethics that applies to our principalexecutive officer, principal financial officer, principal accounting officer orcontroller, or persons performing similar functions in that our sole officer anddirector serves in all the above capacities.

 

Ourdecision to not adopt such a code of ethics results from our having only oneofficer and director operating as the sole management for the Company. Webelieve that as a result of the limited interaction which occurs having a soleofficer/director for the Company eliminates the current need for such a code, inthat violations of such a code would be reported to the party generating theviolation.

 

17
**NominatingCommittee

 **
Wedo not have a Nominating Committee or Nominating Committee Charter. Joseph ScottWilson, our sole director, performs some of the functions associated with aNominating Committee. We have elected not to have a Nominating Committee in thatwe are a development stage company with limited operations and resources.Additionally, our common stock is registered under Section 15(d) of the ExchangeAct, which currently does not subject us to the Proxy rules of the Exchange Act.

 

**ITEM10. EXECUTIVE COMPENSATION**
 

Thefollowing table sets forth the cash compensation of the Company's executiveofficer and director during the last two fiscal years of the Company. Theremuneration described in the table does not include the cost to the Company ofbenefits furnished to the named executive officers, including premiums forhealth insurance and other benefits provided to such individual that areextended in connection with the conduct of the Company's business.

 
**SummaryCompensation Table**
 

Annual      Compensation
Long      Term

Compensation
Name      and Principal Position
 

Year
 

Salary
 

Bonus
Other      Annual

Compensation
Restricted

Stock
 

Options
 

Others
Joseph      Scott Wilson

President/Secretary/

Treasurer/Director
 

2003

2002
 

$-0-

$-0-
 

-0-

-0-
 

-0-

-0-
 

-0-

-0-
 

-0-

-0-
 

-0-

-0-** 

CompensationCommittee* *
Wedo not have a formal Compensation Committee. Joseph Scott Wilson, our soledirector, performs some of the functions of a Compensation Committee. Due to thelack of revenues, our lack of payment of any executive compensation and ourdevelopment stage status, we deemed a Compensation Committee to not be necessaryat this time.
** 

ITEM11. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT**
Thefollowing table sets forth information as of December 31, 2003 with respect tothe beneficial ownership of common stock by (i) each person who to the knowledgeof the Company, beneficially owned or had the right to acquire more than 5% ofthe outstanding common stock, (ii) each director of the Company and (iii) allexecutive officers and directors of the Company as a group.

 

18

 

  

  

Name      of Beneficial Owner (1)
 

 

Number

of      Shares
 

Percent

Beneficially

Owned
Joseph      Scott Wilson(2)(3)

2950 E. Flamingo Rd., Suite B-A2

Las      Vegas, NV 89121
7,015,000
73%
All      Directors & Officers and Beneficial Owners as a Group
7,015,000
73%-  As    used in this table, "beneficial ownership" means the sole or    shared power to vote, or to direct the voting of, a security, or the sole or    shared investment power with respect to Common Stock (i.e., the****power    to dispose of, or to direct the disposition of, a security). The address of    each person is care of the Company.4,500,000    (post 10:1 forward split) shares of Restricted Common Stock were purchased    by Joseph Scott Wilson from the company at $0.003 per share.(3)    During August 2003, the Company issued the sole officer and director of the    Company 15,000 shares at $0.10 per shares of its $.001 par value common    stock for conversion of a note payable to equity of $1,500.**ITEM12. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

 **
Wedo not lease or rent any property other than the mailbox address, which isleased at a value of $180 per annum. Office services are provided without chargeby our sole officer and director. Such costs are immaterial to our financialstatements and, accordingly, have not been reflected therein. The estimated fairmarket value for such facilities are estimated to be $600 per annum.

 

DuringAugust 2003, the Company issued the sole officer and director of the Company15,000 shares at $0.10 per shares of its $.001 par value common stock forconversion of a note payable to equity of $1,500. The shares were deemed to havebeen issued pursuant to an exemption provided by Section 4(2) of the Act, whichexempts from registration "transactions by an issuer not involving anypublic offering."
** 

ITEM13. EXHIBITS AND REPORTS ON FORM 8-K**
 

(a)   Documents filed as part of this Report

       1.    Financial Statements:

 

               A    INDEX TO CONSOLIDATED FINANCIAL STATEMENTS

               1.    Independent AuditorsReport                                               F-1

               2.    Financial Statements:

                           BalanceSheet                                                                 F-2

                           Statement ofOperation                                                   F-3

                           Statement of Changes inStockholders'                            F-4

                           Statement of CashFlows                                                F-5

                           Notes to Consolidated FinancialStatements                    F-6 - F-10

 

19

       2.    During the fiscal year December 31, 2003 the Company filedthe following 8-Ks.

 

                   NONE

 

       3.    Subsequent to the end of the fiscal year, the Company filedthe following reports on Form 8-K

 

                   NONE

 

       4.    Exhibits

 

**Exhibit                                                        Description
Number**
3(i)**   
Articles      of Incorporation of Royal Phoenix
3(ii)**   
Bylaws      of Royal Phoenix
10(a)**   
Separation      and Distribution Agreement dated October 18, 2001, between Desert Health      Products, Inc. and Royal Phoenix.
10(b)**   
License,      Manufacture and Distribution Agreement
10(c)**   
Addendum      to Separation and Distribution Agreement
23*   
Consent      of Auditor
31*   
Certification      Pursuant to Section 302 of the Sarbanes-Oxley Act
32*   
Certification      Pursuant to Section 906 of the Sarbanes-Oxley Act
_____

* Filedherewith.

**Filed in Form SB-2 on October 26, 2001
** 

ITEM14. PRINCIPAL ACCOUNTANT FEES AND SERVICES**
 
*(1)AUDIT FEES*
 

Theaggregate fees billed for professional services rendered by Beckstead and Watts,LLP, for the audit of the registrant's annual financial statements and review ofthe financial statements included in the registrant's Form 10-QSB or servicesthat are normally provided by the accountant in connection with statutory andregulatory filings or engagements for fiscal years 2003 and 2002 were $3,500 and$1,500, respectively.

 
*(2)AUDIT-RELATED FEES*
 

NONE

 
*(3)TAX FEES*
 

NONE

 
*(4)ALL OTHER FEES*
 

NONE

 

20
*(5)AUDIT COMMITTEE POLICIES AND PROCEDURES*
 

TheCompany does not have an audit committee.
** ***(6)If greater than 50 percent, disclose the percentage of hours expended on theprincipal accountant's engagement to audit the registrant's financial statementsfor the most recent fiscal year that were attributed to work performed bypersons other than the principal accountant's full-time, permanent employees.

 

Notapplicable.

 

21
**SIGNATURES**
 

Pursuantto the requirements of Section 13 or 15(d) of the Securities Exchange Act of1934, the registrant has duly caused this report to be signed on its behalf bythe undersigned thereunto duly authorized.

 

                                                                                                                           ROYAL PHOENIX

 

                                                                                                                           By:/S/JOSEPH SCOTTWILSON                
                                                                                                                               Joseph Scott Wilson, President/Director

 

                                                                                                                           Dated: March 8, 2004

 

Pursuantto the requirements of the Securities Exchange Act of 1934, this report has beensigned below by the following persons on behalf of the registrant and in thecapacities and on the dates indicated.

 

NAME                                                                                   OFFICE                                                             DATE

 

/S/JOSEPHSCOTT WILSON                                        President/Treasurer                                            March 8, 2004

JosephScottWilson                                                         Secretary/Director

 

22

ROYALPHOENIX

 

INDEXTO FINANCIAL STATEMENTS

 

INDEPENDENT      AUDITORS' REPORT
 F-1
BALANCE      SHEETS
 F-2
STATEMENTS      OF OPERATIONS
 F-3
STATEMENTS      OF STOCKHOLDERS' EQUITY
 F-4
STATEMENTS      OF CASH FLOWS
 F-5
NOTES      TO FINANCIAL STATEMENTS
 F-6-F-10
 

23
**Becksteadand Watts, LLP
*CertifiedPublic Accountants***
3340Wynn Road, Suite B

LasVegas, NV 89102

702.257.1984

702.362.0540fax

INDEPENDENTAUDITORS' REPORT
** 

February29, 2004**
 

Boardof Directors

RoyalPhoenix

LasVegas, NV

 

Wehave audited the Balance Sheet of Royal Phoenix (the "Company") (ADevelopment Stage Company), as of December 31, 2003 and December 31, 2002 andthe related Statement of Operations, Stockholders' Equity, and Cash Flows forthe year ended December 31, 2003, December 31, 2002, and the period October 17,2000 (date of inception) to December 31, 2003. These financial statements arethe responsibility of the Company's management. Our responsibility is to expressan opinion on these financial statements based on our audit.

 

Weconducted our audit in accordance with auditing standards generally accepted inthe United States. Those standards require that we plan and perform the audit toobtain reasonable assurance about whether the financial statements are free ofmaterial misstatement. An audit includes examining, on a test basis, evidencesupporting the amounts and disclosures in the financial statement presentation.An audit also includes assessing the accounting principles used and significantestimates made by management, as well as evaluating the overall financialstatement presentation. We believe that my audit provides a reasonable basis forour opinion.

 

Inour opinion, the financial statements referred to above present fairly, in allmaterial respects, the financial position of Royal Phoenix (A Development StageCompany) as of December 31, 2003 and December 31, 2002, and the relatedStatement of Operations, Stockholders' Equity, and Cash Flows for the year endedDecember 31, 2003, December 31, 2002, and the period October 17, 2000 (date ofinception) to December 31, 2003, in conformity with accounting principlesgenerally accepted in the United States.

 

Theaccompanying financial statements have been prepared assuming the Company willcontinue as a going concern. As discussed in Note 4 to the financial statements,the Company has had limited operations and have not commenced planned principaloperations. This raises substantial doubt about its ability to continue as agoing concern. Management's plan in regard to these matters are also describedin Note 4. The financial statements do not include any adjustments that mightresult from the outcome of this uncertainty.
** 

Becksteadand Watts, LLP**
F-1
**RoyalPhoenix

(aDevelopment Stage Company)

BalanceSheet

 **
 

December      31, 2003
December      31, 2002**Assets
  

 

 

Current      assets:
Cash
$              23,351
$                  1,351
 

Total      current assets
23,351
1,351
 

$             23,351
$                 1,351
 

 

 
**Liabilities      and Stockholder's Equity
  

 

 

Current      liabilities:
$                     0
$                       0
Total      current liabilities
0
0
 

Stockholders'      equity:
 

 

 

Preferred      stock, $0.001 par value, 10,000,000 shares authorized, no shares issued      and outstanding as of 12/31/03 and 12/31/02
0
0
 

Common      stock, $0.001 par value, 20,000,000 shares authorized, 9,615,000 and      7,100,000 shares issued and outstanding as of 12/31/03 and 12/31/02      retroactively restated
 

9,615
 

7,100
 

Additional      paid-in capital
38,185
14,200
 

(Deficit)      accumulated during development stage
(24,449)
(19,949)
Total      Stockholders' Equity
23,351
1,351
 

 

 

 

$               23,351
$                 1,351
 

Theaccompanying notes are an integral part of these financial statements.

 

F-2
**RoyalPhoenix

(aDevelopment Stage Company)

Statementof Operations

 **
 

 

For      the Year Ended December 31, 2003
 

For      the Year Ended December 31, 2002
October      17, 2000

(inception)      to

December      31,

2003
 

 
           
Revenue
$                   0      $                     0
$                    0
 
           
Expenses:
General      and administrative expenses
4,500      1,556
24,449
Total      expenses
4,500      1,556
24,449
 
           
Net      (loss)
$         (4,500)      $    (1,556)
$       (24,449)
 
           
Weighted      average number of common      shares outstanding
9,615,000          7,100,00    
 
           
Net      (loss) per share
$          (0.00)
$           (0.00)
 

Theaccompanying notes are an integral part of these financial statements.

 

F-3
**RoyalPhoenix

(aDevelopment Stage Company)

Statementof Changes in Stockholders' Equity

Forthe Period October 17, 2000 (Inception) to December 31, 2003

 **
Common      Stock

Shares                      Amount
Additional

Paid-in

Capital
(Deficit)

Accumulated

During

Development

Stage
Total

Stockholders'

Equity
Balance,      October 17, 2000
$      0
$      0
$      0
$      0
Shares      retained by founder
100,000
10
290
300
Shares      issued for services
2,500,000
250
7,250
7,500
Shares      issued for cash
2,500,000
250
7,250
7,500
Shares      issued for cash to founder
2,000,000
200
5,800
6,000
Net      (loss)
year      ended December 31, 2000
  

  

  

(12,303)
(12,303)
Balance,      December 31, 2000
7,100,000
710
20,590
(12,303)
8,997
Net      (loss)
year      ended December 31, 2001
  

  

  

(6,090)
(6,090)
Balance,      December 31, 2001
7,100,000
710
20,590
(18,393)
2,907
Net      (loss)
year      ended December 31, 2002
  

  

  

(1,556)
(1,556)
Balance,      December 31, 2002
7,100,000
710
20,590
(19,949)
1,351
Shares      issued for cash
2,500,000
250
24,750
25,000
July      30, 2003
recapitalization      adjustment
to      additional paid-in-capital
8,640
(8,640)
0
Issued      for Debt
15,000
15
1,485
1,500
Net      (loss)
year      ended December 31, 2003
  

  

  

(4,500)
(4,500)
Balance,      December 31, 2003
9,615,000
$      9,615
$      38,185
$      (24,449)
$      23,351
 

Theaccompanying notes are an integral part of these financial statements.

 

F-4
**RoyalPhoenix

(aDevelopment Stage Company)

Statementof Cash Flows

 **
 

 

For      the Year Ended December 31, 2003
 

For      the Year Ended December 31, 2002
October      17, 2000

(inception)      to

December      31,

2003
 

 

 

 

Cash      Flows from
 

 

 

Operating      Activities
 

 

 

Net      loss
$      (4,500)
$      (1,556)
$      (24,449)
Shares      issued for services
0
0
7,500
Adjustment        to reconcile net loss to net cash used by operations    
0
0
0
 

 

 

 

Net      cash used in operating activities
(4,500)
(1,556)
(16,949)
 

 

 

 

Cash      Flows from Investing Activities
0
0
0
 

 

 

 

Cash      Flows from Financing Activities
Converted      Note Payable to Equity
1,500
0
1,500
Issuance      of common stock
25,000
0
38,800
 

 

 

 

Net      increase in cash
22,000
(1,556)
23,351
 

 

 

 

Cash,      beginning of period
1,351
2,907
0
Cash,      end of period
$      23,351
$      1,351
$      23,351
Supplemental      Disclosure
Interest      Paid
$      0
$      0
$      0
Taxes      Paid
$      0
$      0
$      0
 

Theaccompanying notes are an integral part of these financial statements.

 

F-5
**RoyalPhoenix

(aDevelopment Stage Company)**
**Notes**
**Note1 - Summary of significant accounting policies**
 

Organization

TheCompany was organized October 17, 2000 (Date of Inception) under the laws of theState of Nevada, as Royal Phoenix. The Company began activities to license,manufacture and distribute vitamin formulations. The Company has beenunsuccessful in conducting any business.

 

TheCompany has not commenced significant operations and, in accordance with SFAS#7, the Company is considered a development stage company.

 

Useof estimates

Thepreparation of financial statements in conformity with generally acceptedaccounting principles requires management to make estimates and assumptions thataffect the reported amounts of assets and liabilities and disclosure ofcontingent assets and liabilities at the date of the financial statements andthe reported amounts of revenue and expenses during the reporting period. Actualresults could differ significantly from those estimates.

 

Cashand cash equivalents

Forthe purpose of the statements of cash flows, all highly liquid investments withthe maturity of three months or less are considered to be cash equivalents.

 

Revenuerecognition

Salesand related cost of sales are generally recognized upon shipment of products.Cost of goods sold generally represents the cost of items sold and the relatedshipping and selling expenses.

 

AdvertisingCosts

TheCompany expenses all costs of advertising as incurred. There were no advertisingcosts included in general and administrative expenses as of December 31, 2003 orDecember 31, 2002.

 

Fairvalue of financial instruments

Fairvalue estimates discussed herein are based upon certain market assumptions andpertinent information available to management as of December 31, 2003 andDecember 31, 2002. The respective carrying value of certain on-balance-sheetfinancial instruments approximated their fair values. These financialinstruments include cash and accounts payable. Fair values were assumed toapproximate carrying values for cash and payables because they are short term innature and their carrying amounts approximate fair values or they are payable ondemand.

 

Impairmentof long lived assets

Longlived assets held and used by the Company are reviewed for possible impairmentwhenever events or circumstances indicate the carrying amount of an asset maynot be recoverable or is impaired. No such impairments have been identified bymanagement at December 31, 2003 or December 31, 2002.

 

F-6
**RoyalPhoenix

(aDevelopment Stage Company)**
**Notes**

 

Stock-BasedCompensation:
TheCompany accounts for stock-based awards to employees in accordance withAccounting Principles Board Opinion No. 25, *"Accounting for Stock Issuedto Employees"* and related interpretations and has adopted thedisclosure-only alternative of FAS No. 123, *"Accounting for Stock-BasedCompensation."* Options granted to consultants, independentrepresentatives and other non-employees are accounted for using the fair valuemethod as prescribed by FAS No. 123.

 

Earningsper share

TheCompany follows Statement of Financial Accounting Standards No. 128."Earnings Per Share" ("SFAS No. 128"). Basic earning percommon share ("EPS") calculations are determined by dividing netincome by the weighted average number of shares of common stock outstandingduring the year. Diluted earning per common share calculations are determined bydividing net income by the weighted average number of common shares and dilutivecommon share equivalents outstanding. During periods when common stockequivalents, if any, are anti- dilutive they are not considered in thecomputation.

 

Segmentreporting

TheCompany follows Statement of Financial Accounting Standards No. 130,"Disclosures About Segments of an Enterprise and Related Information".The Company operates as a single segment and will evaluate additional segmentdisclosure requirements as it expands its operations.

 

Incometaxes

TheCompany follows Statement of Financial Accounting Standard No. 109,"Accounting for Income Taxes" ("SFAS No. 109") for recordingthe provision for income taxes. Deferred tax assets and liabilities are computedbased upon the difference between the financial statement and income tax basisof assets and liabilities using the enacted marginal tax rate applicable whenthe related asset or liability is expected to be realized or settled. Deferredincome tax expenses or benefits are based on the changes in the asset orliability each period. If available evidence suggests that it is more likelythan not that some portion or all of the deferred tax assets will not berealized, a valuation allowance is required to reduce the deferred tax assets tothe amount that is more likely than not to be realized. Future changes in suchvaluation allowance are included in the provision for deferred income taxes inthe period of change.

 

Deferredincome taxes may arise from temporary differences resulting from income andexpenseitems reported for financial accounting and tax purposes indifferent periods. Deferred taxes are classified as current or non-current,depending on the classification of assets and liabilities to which they relate.Deferred taxes arising from temporary differences that are not related to anasset or liability are classified as current or non-current depending on theperiods in which the temporary differences are expected to reverse.

 

Recentpronouncements

InJanuary 2003, the FASB issued FIN No. 46, "Consolidation of VariableInterest Entities", an interpretation of Accounting Research Bulletin No.51. FIN No. 46 requires that variable interest entities be consolidated by acompany if that company is subject to a majority of the risk of loss from thevariable interest entity's activities or is entitled to receive a majority ofthe entity's residual returns or both. FIN No. 46 also requires disclosuresabout variable interest entities that companies are not required to consolidatebut in which a company has a significant variable interest. The consolidationrequirements of FIN No. 46 will apply immediately to variable interest entitiescreated after January 31, 2003. The consolidation requirements will apply toentities established prior to January 31, 2003 in the first fiscal year orinterim period beginning after June 15, 2003. The disclosure requirements willapply in all financial statements issued after January 31, 2003. The companywill begin to adopt the provisions of FIN No. 46 during the first quarter offiscal 2003.

 

F-7
**RoyalPhoenix

(aDevelopment Stage Company)**
**Notes**

 
**Note2 - Income taxes**
 

TheCompany accounts for income taxes under Statement of Financial AccountingStandards No. 109, "Accounting for Income Taxes" ("SFAS No.109"), which requires use of the liability method. SFAS No. 109 providesthat deferred tax assets and liabilities are recorded based on the differencesbetween the tax bases of assets and liabilities and their carrying amounts forfinancial reporting purposes, referred to as temporary differences. Deferred taxassets and liabilities at the end of each period are determined using thecurrently enacted tax rates applied to taxable income in the periods in whichthe deferred tax assets and liabilities are expected to be settled or realized.

 

Theprovision for income taxes differs from the amount computed by applying thestatutory federal income tax rate to income before provision for income taxes.The sources and tax effects of the differences are as follows:

 

U.Sfederal statutory rate   

  (34.0%)

Valuationreserve   

 34.0%

 

Total   

 -%

 

Asof December 31, 2003, the Company has $24,449 net operating loss carry-forwardfor tax purposes, which will be available to offset future taxable income.

 
**Note3 - Stockholder's equity**
 

TheCompany is authorized to issue 5,000,000 shares of it $0.001 par value preferredstock and 20,000,000 shares of its $0.001 par value common stock.

 

DuringJune 2003, the Company completed a public offering on Form SB-2 registered underthe Securities Act of 1933, as amended. The Company sold 250,000 (pre split)shares of its $0.001 par value common stock at a price of $0.10 per share for atotal amount raised of $25,000.

 

OnJuly 30, 2003, the Company approved a forward stock split on the basis of 10 for1. All references to the number of shares issued and outstanding have beenretroactively restated to reflect the forward split.

 

DuringAugust 2003, the Company issued the sole officer and director of the Company15,000 shares at $0.10 per shares of its $.001 par value common stock forconversion of a note payable to equity of $1,500. The shares were deemed to havebeen issued pursuant to an exemption provided by Section 4(2) of the Act, whichexempts from registration "transactions by an issuer not involving anypublic offering."

F-8
**RoyalPhoenix

(aDevelopment Stage Company)**
**Notes**

 

Therehave been no other issuances of common stock.

 
**Note4 - Going concern**
 

Theaccompanying financial statements have been prepared assuming that the Companywill continue as a going concern which contemplates the recoverability of assetsand the satisfaction of liabilities in the normal course of business. As notedabove, the Company is in the development stage and, accordingly, has not yetgenerated revenues from operations. Since its inception, the Company has beenengaged substantially in financing activities and developing its product line,setting up its e-commerce website, and incurring substantial costs and expenses.As a result, the Company incurred accumulated net losses from October 17, 2000(inception) through the period ended December 31, 2003 of $24,449. In addition,the Company's development activities since inception have been financiallysustained through equity financing.

 

Theability of the Company to continue as a going concern is dependent upon itsability to raise additional capital from the sale of common stock and,ultimately, the achievement of significant operating revenues. The accompanyingfinancial statements do not include any adjustments that might be requiredshould the Company be unable to recover the value of its assets or satisfy itsliabilities.

 
**Note5 - Warrants and options**
 

Thereare no warrants or options outstanding to acquire any additional shares ofcommon stock.
** 

Note6 - Related party transactions**
 

TheCompany does not lease or rent any property other than the mail box address,which is leased at a value of $180 per annum. Office services are providedwithout charge by the Company's director. Such costs are immaterial to thefinancial statements and, accordingly, have not been reflected therein. Theestimated fair market value for such facilities are estimated to be $600 perannum.***************************** |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|