.S. SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 10-Q/A

( Amendment 2)

 

[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OFTHE SECURITIES EXCHANGE ACT OF 1934   

 

For the quarterly period ended September 30, 2010

 

[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OFTHE SECURITIES EXCHANGE ACT OF 1934

 

Commission File No.333-153182

 

Great Wall Builders Ltd.,

(Exact name of registrant as specified in its charter)

 

 

| Texas                         | 71-1051037                            |
|-----------------------------------------|--------------------------------------------|
| (State or other jurisdiction       | (I.R.S. Employer Identification No.)  |
| of incorporation or organization)  |                                       |

 

2620 Fountainview #115B

Houston, Texas 77057

(Address of principal executive offices)

 

1-281-575-0636

(Issuer's telephone number)

 

Indicate by checkmark whether the issuer: (1) has filedall reports required to be filed by Section 13 or 15(d) of the Exchange Actduring the past 12 months (or for such shorter period that the registrant wasrequired to file such reports), and (2) has been subject to such filingrequirements for the past 90 days. Yes [X ] No[  ]

 

Indicate by check mark whether the registrant is a largeaccelerated filed, an accelerated filer, a non-accelerated filer, or a smallerreporting company.

Large accelerated filer []                 Acceleratedfiler [ ]

Non-accelerated filer []                   Small Reporting company [X]

 

Indicate by checkmark whether the registrant is a shellcompany (as defined in Rule 12b-2 of the Exchange Act). Yes [  ] No[X]

 

Indicate the number of shares outstanding of each of theissuer's classes of common stock, as of the most practicable date: 4,800,000 asof September 30, 2010.

 

  

1 

 

Explanation Note:

The reason for filingthis Amendment No. 3 on Form 10-Q/A is to provide supplementary disclosures tothe registrant Form 10-QA filled with the US Securities and Exchange Commissionon May 3, 2011.  These supplementaldisclosures include the followings:

(a) Revised Exhibit31 and Exhibit 32 with currently dated officer certifications as exhibits in accordance withItem 601(b)(31) and Item 601(b) (32) of Regulation S-K.

(b)  Revised Exhibit 31 that providedmanagement's conclusion based on the full definition of disclosure controls andprocedures as provided in Exchange Act Rules 13a-15(e) and 15d-15(e). Page 9.

This amendment No: 3does it reflect any changes that may have occurred subsequent to the originalfiling, the other Items in the Initial Filing remain unchanged and are not restatedherein. 

 

GREAT WALL BUILDERS Ltd.

Form 10-Q Report Index 

 

|                                                                                                 | Page No. |
|------------------------------------------------------------------------------------------------------|----------|
| PART 1. FINANCIAL INFORMATION                                                                   |     |
| Item 1: Financial Statements                                                                    |     |
| Condensed Balance Sheets                                                                             | 1        |
| Condensed Statement of Operations                                                                    | 2        |
| Condensed Statement of Cash Flows                                                                    | 3        |
| Notes to Condensed Financial Statements                                                              | 4-7      |
| Item 2: Management’s Discussion and Analysis of  Financial Condition and Results of Operations | 7-9      |
| Item 3: Quantitative and Qualitative Disclosures about Market  Risk                                  | 10       |
| Item 4: Control and Procedures                                                                       | 10       |
| PART 11. OTHER INFORMATION                                                                           |     |
| Item 1: Legal Proceedings                                                                            | 10       |
| Item 2: Unregistered Sales of Equity Securities and Use  of Proceeds                                 | 10       |
| Item 3: Defaults Upon Senior Securities                                                              | 10       |
| Item 4: Submission of Matters to a Vote of Securities  Holders                                       | 10       |
| Item 5: Other Information                                                                            |     |
| Item 6: Exhibit                                                                                      | 10       |
| Item 7: Signature                                                                                    | 11       |

 

 

  

2 

 

  

 

Item 1: FINANCIAL STATEMENTS

 

 

GREAT WALL BUILDERS LTD.

(A Development Stage Company)

Condensed Balance Sheets

 

 

 

|                                                       |   | September 30,      |     |   |  June 30, |   |
|------------------------------------------------------------|--------|--------------------|----------|--------|----------------|--------|
|                                                       |   |   2010        |     |   |  2010     |   |
|                                                       |   |  (Un-audited) |     |   |           |   |
| Assets                                                     |   |               |     |   |           |   |
| Current Assets                                             |   |               |     |   |           |   |
| Cash                                                       |   | $                  | 296      |   |           | $      | 580 |   |
|     Total Current Assets                    |   |               | 296      |   |           |   | 580 |   |
| Properties                                                 |   |               | 37,500   |   |           |   | 37,500 |   |
| TOTAL ASSETS                                               |   | $                  | 37,796   |   |           | $      | 38,080 |   |
|                                                       |   |               |     |   |           |   |   |   |
| LIABILITIES and STOCKHOLDERS' DEFICIT                      |   |               |     |   |           |   |   |   |
| Current Liabilities                                        |   |               |     |   |           |   |   |   |
| Accrued liabilities                                        |   | $                  | 187,287  |   |           | $      | 165,076 |   |
|     Total Current Liabilities               |   |               | 187,287  |   |           |   | 165,076 |   |
|                                                       |   |               |     |   |           |   |   |   |
| Stockholders’ Deficit                                |   |               |     |   |           |   |   |   |
| Preferred stock, $0.0001 par value, 98,989,886 shares      |   |               |     |   |           |   |   |   |
|   authorized; -0- shares issued and outstanding:      |   |               | -        |   |           |   | - |   |
| Common stock, $0.0001 par value, 918,816,988 shares        |   |               |     |   |           |   |   |   |
|   authorized; 4,800,000 shares issued and outstanding |   |               | 482      |   |           |   | 482 |   |
| Additional paid-in capital                                 |   |               | 63,018   |   |           |   | 63,018 |   |
| Deficit accumulated during development stage               |   |               | (212,991 | )      |           |   | (190,496 | ) |
|     Total Stockholders’ Deficit       |   |               | (149,491 | )      |           |   | (126,996 | ) |
|                                                       |   |               |     |   |           |   |   |   |
| TOTAL LIABILITIES and STOCKHOLDERS’ DEFICIT          |   | $                  | 37,796   |   |           | $      | 38,080 |   |

 

 

The accompanying notes are an integralpart of the condensed financial statements.

 

 

  

 3

 

GREAT WALL BUILDERS LTD.

(A Development Stage Company)

Condensed Statement of Operations (Un-audited)

 

 

|                                                |   | Three-months ended |      |   | November 3, 2007 |   |
|-----------------------------------------------------|--------|--------------------|-----------|--------|------------------|--------|
|                                                |   | September 30,      |      |   | (Inception) to   |   |
|                                                |   | 2010               |      |   | 2009             |   |   | September 30, 2010 |   |
|                                                |   |               |      |   |             |   |   |   |   |
| REVENUES                                            |   | $                  | -         |   |             | $      | - |   |   | $ | 61,860 |   |
|                                                |   |               |      |   |             |   |   |   |   |   |   |   |
| OPERATING EXPENSES                                  |   |               |      |   |             |   |   |   |   |   |   |   |
| Executive compensation                              |   |               | 19,545    |   |             |   | 19,545 |   |   |   | 232,463 |   |
| General and administrative                          |   |               | 2,950     |   |             |   | 1,676 |   |   |   | 42,388 |   |
|                                                |   |               |      |   |             |   |   |   |   |   |   |   |
| Total Operating Expenses                            |   |               | 22,495    |   |             |   | 21,221 |   |   |   | 274,851 |   |
|                                                |   |               |      |   |             |   |   |   |   |   |   |   |
| LOSS FROM OPERATIONS                                |   |               | (22,495   | )      |             |   | (21,221 | ) |   |   | (212,991 | ) |
|                                                |   |               |      |   |             |   |   |   |   |   |   |   |
| PROVISION FOR INCOME TAXES                          |   |               | -         |   |             |   | - |   |   |   | - |   |
|                                           |   |               |      |   |             |   |   |   |   |   |   |   |
| NET LOSS                                            |   | $                  | (22,495   | )      |             | $      | (21,221 | ) |   | $ | (212,991 | ) |
|                                                |   |               |      |   |             |   |   |   |   |   |   |   |
| LOSS PER SHARE: Basic & Diluted                 |   | $                  | (0.005    | )      |             | $      | (0.004 | ) |   | $ | (0.045 | ) |
|                                                |   |               |      |   |             |   |   |   |   |   |   |   |
| WEIGHTED AVERAGE NUMBER OF COMMON STOCK OUTSTANDING |   |               | 4,800,000 |   |             |   | 4,800,000 |   |   |   | 4,800,000 |   |

 

The accompanying notes are an integralpart of the condensed financial statements.

 

 

  

4 

 

GREAT WALL BUILDERS LTD.

(A Development Stage Company)

 Condensed Statement of Cash flows (Un-audited)

 

 

|                                              |   |                             |    |   |                |   |    | November 3, 2007   |   |
|---------------------------------------------------|--------|----------------------------------|---------|--------|---------------------|--------|---------|--------------------|--------|
|                                              |   | Three-months ended September 30, |    |   | (Inception) to |   |
|                                              |   | 2010                             |    |   | 2009                |   |    | September 30, 2010 |   |
|                                              |   |                             |    |   |                |   |    |               |   |
| OPERATING ACTIVITIES:                             |   |                             |    |   |                |   |    |               |   |
| Net loss                                          |   | $                                | (22,495 | )      |                | $      | (21,221 | )                  |   | $ | (212,991 | ) |
| Changes in operating assets and liabilities:      |   |                             |    |   |                |   |    |               |   |   |   |   |
| Account payable and accrued liabilities           |   |                             | 22,211  |   |                |   | 13,712  |               |   |   | 187,287 |   |
|   Net cash used in operating activities:     |   |                             | (284    | )      |                |   | (7,509  | )                  |   |   | (25,704 | ) |
|                                              |   |                             |    |   |                |   |    |               |   |   |   |   |
| FINANCING ACTIVITIES:                             |   |                             |    |   |                |   |    |               |   |   |   |   |
| Stock subscriptions                               |   |                             | -       |   |                |   | -       |               |   |   | 26,000 |   |
|   Net cash provided by financing activities: |   |                             | -       |   |                |   | -       |               |   |   | 26,000 |   |
|                                              |   |                             |    |   |                |   |    |               |   |   |   |   |
|   Net increase (decrease) in cash            |   |                             | (284    | )      |                |   | (7,509  | )                  |   |   | 296 |   |
|   Cash at beginning of period                |   |                             | 580     |   |                |   | 24,751  |               |   |   | - |   |
|   Cash at end of period                      |   | $                                | 296     |   |                | $      | 17,242  |               |   | $ | 296 |   |
|                                              |   |                             |    |   |                |   |    |               |   |   |   |   |
| SUPPLEMENTAL CASH FLOW INFORMATION:               |   |                             |    |   |                |   |    |               |   |   |   |   |
| Non cash financing activities                     |   |                             |    |   |                |   |    |               |   |   |   |   |
| Stock issued for properties                       |   | $                                | -       |   |                | $      | -       |               |   | $ | 37,500 |   |

 

 

The accompanying notes are an integralpart of the condensed financial statements.

 

  

5 

  

 

 

GREAT WALL BUILDERS LTD.

(A Development Stage Company)

Notes to Condensed Financial Statements

 

NOTE 1- NATURE OF OPERATION

 

Great Wall BuildersLtd., incorporated in Texas on November 3, 2007, we intend to provideaffordable homes with solar integrated system in Texas. Growth and expansionopportunities have also been identified in other regions of the United Statesas well as in China. We have designed affordable homes and offer innovativesolar integrated systems such as solar roof tiles, solar hot water heaters andsolar photovoltaic systems. We intend to promote our affordable homes withsolar integrated features in the U.S. and China.

 

NOTE 2-GOING CONCERN

 

The accompanyingfinancial statements have been prepared assuming the Company will continue as agoing concern, which contemplates, among other things, the realization ofassets and satisfaction of liabilities in the ordinary course of business. TheCompany has incurred continuing and recurring losses from operations and adeficit accumulated during the development stage of approximately $212,991 onSeptember 30, 2010 which among other matters, raises substantial doubt aboutits ability to continue as a going concern. A significant amount of additionalcapital will be necessary to advance the development of the Company's productsto the point at which they may become commercially viable. The Company intendsto fund operations through debt and/or equity financing arrangements, workingcapital and other cash requirements for the fiscal year ending June 30, 2011.Thereafter, the Company will be required to seek additional funds to financeits current and long-term operations.

 

The Company iscurrently addressing its liquidity issue by continually seeking investmentcapital through private placements of common stock and debt. The Companybelieves that its cash on hand and funds expected to be received from officerand director will be sufficient to meet its liquidity needs for fiscal yearending 2011. However, no assurance can be given that the Company will receiveany funds in addition to the funds it has received to date.

 

NOTE 3- SIGNIFICANT ACCOUNTING POLICIES

 

BASIS OF PRESENTATION

 

The financial statements of the Company have beenprepared in accordance with generally accepted accounting principles in theUnited States of America and are presented in US dollars.  

 

USE OF ESTIMATE

 

The preparation offinancial statements in conformity with Generally Accepted AccountingPrinciples ("GAAP") requires management to make estimates and assumptionsthat affect the reported amounts of assets and liabilities and disclosure ofcontingent assets and liabilities at the date of financial statements and thereported amounts of revenues and expenses during the reporting period. Actualresults could differ from those estimates.

 

CASH AND CASH EQUIVALENTS

 

The Company considers all highly liquid instruments witha maturity of three months or less at the time of issuance to be cashequivalents.  The Company had no cash equivalent as of June 30, 2010 andSeptember 30, 2010.

 

  

6 

  

 

INCOME TAXES

 

Income taxes areaccounted for under the assets and liability method.  Deferred  tax assets  and  liabilities are recognized for  the estimated future tax consequences attributable  to differencesbetween the financial statement carrying amounts of existing  assets and  liabilities and their respective  tax  bases andoperating loss and tax credit  carry  forwards. Deferred tax assetsand liabilities are measured using enacted tax rates in effect for the year inwhich those temporary differences are expected to be recovered or settled.

 

NET LOSS PER SHARE

 

Basic loss per shareis calculated using the weighted-average number of common shares outstandingduring each reporting period. Diluted loss per share includes potentiallydilutive securities such as outstanding options and warrants, using variousmethods such as the treasury stock or modified treasury stock method in thedetermination of dilutive shares outstanding during each reporting period. TheCompany currently has no dilutive securities and as such, basic and dilutedloss per share are the same for all periods presented.

 

STOCK-BASEDCOMPENSATION

 

Stock-based compensation is accounted for at fair valuein accordance with Financial Accounting Standards Board Accounting StandardsCodification 718 (FASB ASC 718) “Stock Compensation”.  As ofSeptember 30, 2010, the Company has not adopted a stock option plan and has notgranted any stock options.

 

FINANCIAL INSTRUMENTS

 

The carrying value of the Company’s financialinstruments approximates their fair value because of the short maturity ofthese instruments.

 

NOTE 4 – RELATED PARTY TRANSACTIONS

 

As of September 30, 2010, there is an accrued salarypayable to our Officer, Tian Jia,in the amount of $187,287.

 

NOTE 5- RECENT ACCOUNTING PRONOUNCEMENTS

 

In March 2010, theFASB issued ASU No. 2010-11, "Derivatives and Hedging (Topic 815): ScopeException Related to Embedded Credit Derivatives" (codified within ASC 815- Derivatives and Hedging). ASU 2010-11 improves disclosures originallyrequired under SFAS No. 161. ASU 2010-11 is effective for interim and annualperiods beginning after June 15, 2010. The adoption of ASU 2010-11 is notexpected to have any material impact on our financial position, results ofoperations or cash flows.

 

In April 2010, theFASB issued ASU No. 2010-17, "Revenue Recognition - Milestone Method(Topic 605): Milestone Method of Revenue Recognition" (codified within ASC605 - Revenue Recognition). ASU 2010-17 provides guidance on defining amilestone and determining when it may be appropriate to apply the milestonemethod of revenue recognition for research or development transactions. ASU2010-17 is effective for interim and annual periods beginning after June 15,2010. The adoption of ASU 2010-17 is not expected to have any material impacton our financial position, results of operations or cash flows.

 

NOTE 6-SUBSEQUENT EVENTS

 

In preparing these financial statements, the Company hasevaluated events and transactions for potential recognition or disclosurethrough October 22, 2010, the date the financial statements were issued.

 

  

7 

  

 

 

 

Item 2: MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIALCONDITION AND RESULTS OF OPERATIONS

 

 

COMPANY OVERVIEW AND BUSINESS OPERATIONS OVERVIEW

 

Great Wall BuildersLtd. incorporated in Texas on November 3, 2007. We plan to provide affordablehomes with solar integrated system in Texas. Growth and expansion opportunitieshave also been identified in other regions of the United States as well as inChina. The need for affordable homes with solar integrated system in the UnitedStates is in great demand due to change of consumer preferences for smallerhomes and rising energy costs. We plan to design and sell affordable homes andoffer other innovative solar integrated system such as solar roof tiles, solarhot water heaters and solar photovoltaic systems. We expect to promote ouraffordable homes for American families with solar integrated features in theU.S. and China.

 

Great wall BuildersLtd, is a home builder specializes in building solar energy homes andinstallation of solar related home products. Advances in solar technology, therelentless rise of conventional electricity prices, and increasingly compellingenvironmental and geopolitical realities are leading homeowners, businesses andgovernment entities to invest in solar power systems at an accelerating rate..Our management believes that solar homes will be next building trend in theUnited States and abroad. We are looking for affordable building sites to buildsolar homes in Texas and other regions of the United States. As of the date ofthis Quarterly Report, we have incurred a net loss of $22,495.

 

RESULTS OF OPERATION

 

We expect we will requireadditional capital to meet our long term operating requirements. We expect toraise additional capital through, among other things, the sale of equity ordebt securities, Private Placement Offerings, Employee Stock Options Plans andloans from officers and directors.

 

Three-months periodended September 30, 2010 compared to the period from inception (November 3,2007) to September 30, 2010 Our net loss for the three-months period endedSeptember 30, 2009 was $22,495 compared to a net loss of $212,991 during theperiod from inception (November 3, 2007) to September 30,2010.  During the three-months period ended September 30, 2010, wegenerated -0- in revenue. During the three-month period ended September 30,2010, we incurred the general & administrative expense of $2,950 comparedto $42,388 incurred during the period from inception (November 3, 2007) toSeptember 30, 2010. General and administrative expenses incurred during thethree-month period ended September 30, 2010 were generally related to corporateoverhead, legal and accounting, stock transfer agents, Edgar filings.

 

  

8 

  

Our net loss during the three-months period endedSeptember 30, 2010 was $22,495 or ($0.005) per share compared to a net loss of$212,991 or ($0.045) per share during the period from inception (November 3,2007) to September 30, 2010.

 

LIQUIDITY AND CAPITAL RESOURCES

 

As of the three-monthsperiod ended September 30, 2010, our current assets were $296 and our total liabilitieswere $187,287 which resulted in a working capital negative of$186,991.  As of the three-month period ended September 30, 2010,current assets were comprised of $296 in cash compared to $580 in currentassets at fiscal year ended June 30, 2010. Stockholders' Deficit increasedfrom $190,496 for fiscal year ended June 30, 2010 to $212,991 for thethree-months period ended September 30, 2010. As of the three-month periodended September 30, 2010, our current assets were $296 and our total liabilitieswere $187,287 which resulted in a negative working capital of $186,991 andstockholder's deficit increased from $190,496 for fiscal year ended June 30,2010 to $212,991 for the three-month period ended September 30, 2010.

 

PLAN OF OPERATION AND FUNDING

 

We expect that working capital requirements will continueto be funded through a combination of our existing funds, advance from ourofficer and director, and further issuances of securities. Our working capitalrequirements are expected to increase in line with the growth of our business.

 

Existing workingcapital, further advances from our officer and director, and anticipated cashflow are expected to be adequate to fund our operations over the next 12months.  We have no lines of credit or other bank financing arrangements.Generally, we have financed operations to date through the proceeds of theprivate placement of equity and advance from officer and director. Inconnection with our business plan, management anticipates additional increasesin operating expenses and capitalexpenditures  relating  to: (i)acquisition of building lots; (ii) architectural and engineeringfees  (iii) international and domestic travel expenses (iv) ourexpansion plans in China’s market. We intend to finance these expenseswith further issuances of securities, advance from our officer anddirector. Thereafter, we expect we will need to raise additional capital andgenerate revenues to meet long-term operating requirements. 

OFF-BALANCE SHEET ARRANGEMENTS

 

As of the date of this Quarterly Report, we do not haveany off-balance sheet arrangements that have or are reasonably likely to have acurrent or future effect on our financial condition, changes in financialcondition, revenues or expenses, results of operations, liquidity, capitalexpenditures or capital resources that are material to investors.

 

Item 3:  QUANTITATIVE AND QUALITATIVEDISCLOSURES ABOUT MARKET RISK.

 

We are a small reporting company as defined by Rule 12b-2of the Securities Exchange Act of 1934 and are not required to provide theinformation.

 

Item 4:  CONTROLS AND PROCEDURES EVALUATION OFDISCLOSURE CONTROLS AND PROCEDURES

Inconnection with the preparation of this quarterly report, an evaluation wascarried out by the Company management, with the participation of the chiefexecutive officer and the chief financial officer, of the effectiveness of theCompany disclosure controls and procedures (as defined in Rules 13a-15(e) and15d-15(e) under the Securities Exchange Act of 1934 ("Exchange Act")as of September 30, 2010. Disclosure controls and procedures are designed toensure that information required to be disclosed in reports filed or submittedunder the Exchange Act is recorded, processed, summarized, and reported withinthe time periods specified in the Commission rules and forms, and that suchinformation is accumulated and communicated to management, including the chiefexecutive officer and the chief financial officer, to allow timely decisionsregarding required disclosures.

Based onthat evaluation, the Company management concluded, as of the end of the periodcovered by this report, that the Company disclosure controls and procedureswere effective in recording, processing, summarizing, and reporting informationrequired to be disclosed, within the time periods specified in the Commissionrules and forms, and such information was accumulated and communicated tomanagement, including the chief executive officer and the chief financialofficer, to allow timely decisions regarding required disclosures.

 

9

 

  

CHANGES IN INTERNAL CONTROL OVER FINANCIAL REPORTING

 

Our management hasevaluated whether any change in our internal control over financial reportingoccurred during the last fiscal quarter. Based on that evaluation, management concludedthat there has been no change in our internal control over financial reportingduring the relevant period that has materially affected, or is reasonablylikely to materially affect, our internal control over financial reporting.

 

PART II. OTHER INFORMATION

 

 

Item 1:   LEGAL PROCEEDINGS

 

We are not a party to any pending legal proceeding. Weare not aware of any pending legal proceeding to which any of our officers,directors of our voting securities are adverse to us or have a materialinterest adverse to us.

 

Item 2:  UNREGISTERED SALES OF EQUITYSECURITIES AND USE OF PROCEEDS.

 

There were no unregistered sales of equity securitiesduring the quarterly period ended September 30, 2010.

 

Item 3:  DEFAULTS UPON SENIOR SECURITIES

None

 

Item 4:  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

 

No matters have been submitted to our security holdersfor a vote, through the solicitation of proxies or otherwise, during thequarterly period ended September 30, 2010.

 

Item5:  OTHER INFORMATION

 

None.

 

Item 6: EXHIBITS

 

Exhibit 31.  Certification of Tian Jia pursuant to rule13a-14a.

Exhibit 32   Certification of Tian Jia pursuant to U.S.CSection 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of2002.

 

  

10

  

SIGNATURES

 

 In accordance with Section 13 or 15(d) of theSecurities Exchange Act of 1934, the Registrant caused this Report to be signedon its behalf by the undersigned, thereunto duly authorized.

 

Great Wall Buillders Ltd.

 /s/ Tian Jia,

 

By: Tian Jia,Chief Executive Officer/Chief Financial Officer

 

May 24, 2011

 

Pursuant to the requirements of the Securities ExchangeAct of 1934, as amended, this Report has been signed below by the followingpersons on behalf of the Registrant and in the capacities indicated.

 

| /s/ Tian Jia,

By Tian Jia,  Chief Executive Officer/

Chief Financial Officer/Principal Accounting Officer |   |   |
|-------------------------------------------------------------------------------------------------------------|--------|--------|

 

 

 

  

11