$VTS
Vitesse Energy, Inc.

2024 Q4 Form 10-Q Financial Statement

#000194455824000107 Filed on November 04, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $58.28M
YoY Change 5.86%
Cost Of Revenue $16.95M
YoY Change 11.98%
Gross Profit $41.33M
YoY Change 3.54%
Gross Profit Margin 70.91%
Selling, General & Admin $7.433M
YoY Change 49.68%
% of Gross Profit 17.98%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $24.92M
YoY Change 31.05%
% of Gross Profit 60.29%
Operating Expenses $49.30M
YoY Change 26.03%
Operating Profit $8.981M
YoY Change -43.65%
Interest Expense $14.65M
YoY Change 1156.09%
% of Operating Profit 163.08%
Other Income/Expense, Net $14.68M
YoY Change -180.66%
Pretax Income $23.66M
YoY Change -1146.07%
Income Tax $6.200M
% Of Pretax Income 26.2%
Net Earnings $17.44M
YoY Change -1289.77%
Net Earnings / Revenue 29.93%
Basic Earnings Per Share $0.56
Diluted Earnings Per Share $0.53
COMMON SHARES
Basic Shares Outstanding 29.54M shares 29.50M shares
Diluted Shares Outstanding 32.99M shares

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.425M
YoY Change 38.81%
Cash & Equivalents $2.425M
Short-Term Investments
Other Short-Term Assets $15.51M
YoY Change 900.65%
Inventory
Prepaid Expenses
Receivables $36.36M
Other Receivables $0.00
Total Short-Term Assets $54.29M
YoY Change 30.84%
LONG-TERM ASSETS
Property, Plant & Equipment $189.0K
YoY Change 13.86%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $7.703M
YoY Change 254.98%
Total Long-Term Assets $736.9M
YoY Change 5.36%
TOTAL ASSETS
Total Short-Term Assets $54.29M
Total Long-Term Assets $736.9M
Total Assets $791.2M
YoY Change 6.79%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $16.04M
YoY Change -34.44%
Accrued Expenses $56.66M
YoY Change 7.61%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $72.70M
YoY Change -12.84%
LONG-TERM LIABILITIES
Long-Term Debt $105.0M
YoY Change 87.5%
Other Long-Term Liabilities $10.93M
YoY Change 157.15%
Total Long-Term Liabilities $10.93M
YoY Change 157.15%
TOTAL LIABILITIES
Total Short-Term Liabilities $72.70M
Total Long-Term Liabilities $10.93M
Total Liabilities $270.9M
YoY Change 35.59%
SHAREHOLDERS EQUITY
Retained Earnings $4.608M
YoY Change -111.11%
Common Stock $327.0K
YoY Change -0.3%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $520.4M
YoY Change
Total Liabilities & Shareholders Equity $791.2M
YoY Change 6.79%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income $17.44M
YoY Change -1289.77%
Depreciation, Depletion And Amortization $24.92M
YoY Change 31.05%
Cash From Operating Activities $45.73M
YoY Change 42.64%
INVESTING ACTIVITIES
Capital Expenditures $17.22M
YoY Change -49.6%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$17.22M
YoY Change -49.6%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -26.20M
YoY Change -5340.6%
NET CHANGE
Cash From Operating Activities 45.73M
Cash From Investing Activities -17.22M
Cash From Financing Activities -26.20M
Net Change In Cash 2.304M
YoY Change -242.84%
FREE CASH FLOW
Cash From Operating Activities $45.73M
Capital Expenditures $17.22M
Free Cash Flow $28.51M
YoY Change -1449.12%

Facts In Submission

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CY2024Q3 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
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CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Dividends In Excess Of Retained Earnings
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CY2023Q2 us-gaap Net Income Loss
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CY2023Q2 us-gaap Adjustments To Additional Paid In Capital Dividends In Excess Of Retained Earnings
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Increase Decrease In Other Operating Assets
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Payments To Acquire Oil And Gas Property
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us-gaap Payments To Acquire Oil And Gas Property
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us-gaap Payments To Explore And Develop Oil And Gas Properties
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us-gaap Payments To Explore And Develop Oil And Gas Properties
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us-gaap Payments To Acquire Other Property Plant And Equipment
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us-gaap Payments To Acquire Other Property Plant And Equipment
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Proceeds From Long Term Lines Of Credit
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us-gaap Proceeds From Long Term Lines Of Credit
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vitesse Repayments Of Long Term Lines Of Credit Affiliated Entity
RepaymentsOfLongTermLinesOfCreditAffiliatedEntity
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vitesse Repayments Of Long Term Lines Of Credit Affiliated Entity
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us-gaap Payments Of Dividends
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us-gaap Payments Of Dividends
PaymentsOfDividends
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us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
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PaymentsForRepurchaseOfCommonStock
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
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us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
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us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
552000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
10007000 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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us-gaap Interest Paid Net
InterestPaidNet
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us-gaap Interest Paid Net
InterestPaidNet
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us-gaap Income Taxes Paid
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us-gaap Income Taxes Paid
IncomeTaxesPaid
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us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
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us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
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us-gaap Settlement Of Asset Retirement Obligations Through Noncash Payments Amount
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us-gaap Settlement Of Asset Retirement Obligations Through Noncash Payments Amount
SettlementOfAssetRetirementObligationsThroughNoncashPaymentsAmount
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us-gaap Stock Issued1
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CommonStockParOrStatedValuePerShare
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CY2023Q1 vitesse Income Tax Expense Benefit Spin Off
IncomeTaxExpenseBenefitSpinOff
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us-gaap Use Of Estimates
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<div style="margin-bottom:3pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-bottom:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9.5pt;font-weight:400;line-height:125%">The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.</span></div><div style="margin-bottom:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9.5pt;font-weight:400;line-height:125%">Depletion, depreciation, and amortization (“DD&amp;A”) and the evaluation of proved oil and gas properties for impairment are determined using estimates of oil and gas reserves. There are numerous uncertainties in estimating the quantity of reserves and in projecting the future rates of production and timing of development expenditures, which includes lack of control over future development plans as a non-operator. Oil and gas reserve engineering is a subjective process of estimating underground accumulations of oil and gas that cannot be measured in an exact way. In addition, significant estimates include, but are not limited to, estimates relating to certain oil and natural gas revenues and expenses, fair value of assets acquired and liabilities assumed in business combinations, valuation of unit-based compensation, and valuation of commodity derivative instruments. Further, these estimates and other factors, including those outside of the Company’s control, such as the impact of lower commodity prices, may have a significant adverse impact to the Company’s business, financial condition, results of operations and cash flows.</span></div>
CY2024Q3 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
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CY2023Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
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CY2024Q3 us-gaap Depletion Of Oil And Gas Properties
DepletionOfOilAndGasProperties
24700000 usd
us-gaap Depletion Of Oil And Gas Properties
DepletionOfOilAndGasProperties
73200000 usd
CY2024Q3 vitesse Oil And Gas Properties Successful Effort Method Depletion Rate Per Barrel Of Oil Equivalent
OilAndGasPropertiesSuccessfulEffortMethodDepletionRatePerBarrelOfOilEquivalent
20.67
vitesse Oil And Gas Properties Successful Effort Method Depletion Rate Per Barrel Of Oil Equivalent
OilAndGasPropertiesSuccessfulEffortMethodDepletionRatePerBarrelOfOilEquivalent
20.52
CY2023Q3 us-gaap Depletion Of Oil And Gas Properties
DepletionOfOilAndGasProperties
18800000 usd
us-gaap Depletion Of Oil And Gas Properties
DepletionOfOilAndGasProperties
55700000 usd
CY2023Q3 vitesse Oil And Gas Properties Successful Effort Method Depletion Rate Per Barrel Of Oil Equivalent
OilAndGasPropertiesSuccessfulEffortMethodDepletionRatePerBarrelOfOilEquivalent
18.61
vitesse Oil And Gas Properties Successful Effort Method Depletion Rate Per Barrel Of Oil Equivalent
OilAndGasPropertiesSuccessfulEffortMethodDepletionRatePerBarrelOfOilEquivalent
18.08
CY2023Q3 us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
0 usd
CY2024Q3 us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
0 usd
us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
0 usd
us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
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us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-bottom:3pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Concentrations of Credit Risk</span></div><div style="margin-bottom:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9.5pt;font-weight:400;line-height:125%">For both the three and nine months ended September 30, 2024, four operators accounted for 59% and 61%, respectively, of oil and natural gas revenue.</span></div><div style="margin-bottom:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9.5pt;font-weight:400;line-height:125%">For the three and nine months ended September 30, 2023, three operators accounted for 49% and 48%, respectively, of oil and natural gas revenue.</span></div><div style="margin-bottom:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9.5pt;font-weight:400;line-height:125%">As of September 30, 2024 and December 31, 2023, three operators accounted for 55% and 56%, respectively, of oil and natural gas revenue receivable. </span></div><div style="margin-bottom:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9.5pt;font-weight:400;line-height:125%">The Company’s oil and natural gas revenue receivable is generated from the sale of oil and natural gas by operators on its behalf. The Company monitors the financial condition of its operators.</span></div>
us-gaap Payments To Acquire Oil And Gas Property
PaymentsToAcquireOilAndGasProperty
20700000 usd
us-gaap Payments To Acquire Oil And Gas Property
PaymentsToAcquireOilAndGasProperty
21800000 usd
CY2024Q3 vitesse Accrued Capital Expenditures Current
AccruedCapitalExpendituresCurrent
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CY2023Q4 vitesse Accrued Capital Expenditures Current
AccruedCapitalExpendituresCurrent
22800000 usd
CY2024Q3 vitesse Accrued Lease Operating Expenses Net Current
AccruedLeaseOperatingExpensesNetCurrent
3996000 usd
CY2023Q4 vitesse Accrued Lease Operating Expenses Net Current
AccruedLeaseOperatingExpensesNetCurrent
3258000 usd
CY2024Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2680000 usd
CY2023Q4 us-gaap Employee Related Liabilities Current
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3647000 usd
CY2024Q3 us-gaap Dividends Payable Current
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4370000 usd
CY2023Q4 us-gaap Dividends Payable Current
DividendsPayableCurrent
1967000 usd
CY2024Q3 us-gaap Other Accrued Liabilities Current
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1117000 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
835000 usd
CY2024Q3 us-gaap Accrued Liabilities Current
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56663000 usd
CY2023Q4 us-gaap Accrued Liabilities Current
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32507000 usd
CY2024Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
95000000 shares
CY2024Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2024Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2024Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
vitesse Distribution Of Predecessor Equity Interests Shares
DistributionOfPredecessorEquityInterestsShares
25628162 shares
CY2023Q3 vitesse Predecessor Number Of Founders
PredecessorNumberOfFounders
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us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
14600 shares
CY2024Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
837036 shares
CY2023Q1 srt Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
60000000 usd
us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
0 shares
us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
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us-gaap Stock Repurchased And Retired During Period Value
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200000 usd
CY2024Q3 vitesse Net Income Loss Attributable To Parent Excluding Predecessor
NetIncomeLossAttributableToParentExcludingPredecessor
17442000 usd
CY2023Q3 vitesse Net Income Loss Attributable To Parent Excluding Predecessor
NetIncomeLossAttributableToParentExcludingPredecessor
-1466000 usd
vitesse Net Income Loss Attributable To Parent Excluding Predecessor
NetIncomeLossAttributableToParentExcludingPredecessor
26185000 usd
vitesse Net Income Loss Attributable To Parent Excluding Predecessor
NetIncomeLossAttributableToParentExcludingPredecessor
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CY2024Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
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661000 usd
CY2023Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
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us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
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CY2024Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
16781000 usd
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-1466000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
26185000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2024Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
-661000 usd
CY2023Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
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us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
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0 usd
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
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0 usd
CY2024Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
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17442000 usd
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
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us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
26185000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-41493000 usd
CY2024Q3 vitesse Weighted Average Common Shares Outstanding Basic Numerator
WeightedAverageCommonSharesOutstandingBasicNumerator
29515340 shares
CY2023Q3 vitesse Weighted Average Common Shares Outstanding Basic Numerator
WeightedAverageCommonSharesOutstandingBasicNumerator
28787381 shares
vitesse Weighted Average Common Shares Outstanding Basic Numerator
WeightedAverageCommonSharesOutstandingBasicNumerator
29458293 shares
vitesse Weighted Average Common Shares Outstanding Basic Numerator
WeightedAverageCommonSharesOutstandingBasicNumerator
28725204 shares
CY2024Q3 vitesse Weighted Average Transitional Share Rs Us Outstanding With No Future Service Required
WeightedAverageTransitionalShareRSUsOutstandingWithNoFutureServiceRequired
560616 shares
CY2023Q3 vitesse Weighted Average Transitional Share Rs Us Outstanding With No Future Service Required
WeightedAverageTransitionalShareRSUsOutstandingWithNoFutureServiceRequired
872382 shares
vitesse Weighted Average Transitional Share Rs Us Outstanding With No Future Service Required
WeightedAverageTransitionalShareRSUsOutstandingWithNoFutureServiceRequired
560619 shares
vitesse Weighted Average Transitional Share Rs Us Outstanding With No Future Service Required
WeightedAverageTransitionalShareRSUsOutstandingWithNoFutureServiceRequired
935720 shares
CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
30075956 shares
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
29659763 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
30018912 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
29660924 shares
CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32987524 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
29659763 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32887499 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
29660924 shares
CY2024Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.56
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.87
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2024Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.53
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.05
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.80
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.40
CY2024Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
6200000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
9200000 usd
CY2023Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-800000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
46400000 usd
CY2023Q1 vitesse Deferred Tax Expense Benefit Spin Off
DeferredTaxExpenseBenefitSpinOff
44100000 usd
CY2023Q1 vitesse Deferred Tax Liability Spin Off
DeferredTaxLiabilitySpinOff
44100000 usd
CY2023Q1 vitesse Deferred Tax Liability Acquisition
DeferredTaxLiabilityAcquisition
2400000 usd
CY2024Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
4700000 usd
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
4700000 usd
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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