Brady Corp

-15.06%

Live  

Brady Corp. was founded in 1914 and is headquartered in Milwaukee, Wisconsin. It is a global manufacturer and distributor of identification and safety solutions for workplaces, including labels, signs, safety devices, printing systems, software, and precision die-cut materials.
2. Company Structure:
Brady Corp. is a publicly traded company on the New York Stock Exchange (NYSE: BRC). The company is organized into three business segments: Identification Solutions, Workplace Safety, and Healthcare. Each segment focuses on specific products and solutions for different industries.
3. Products and Services:
Brady Corp. provides a wide range of identification and safety solutions for workplaces, including labels, signs, lockout/tagout devices, safety software, printing systems, and precision die-cut materials. These solutions help organizations to identify and protect people, products, and premises.
4. Industries Served:
Brady Corp. serves a diverse range of industries, including manufacturing, electrical, construction, transportation, chemical, oil and gas, healthcare, and more. The company's solutions are suitable for any workplace that requires identification and safety products.
5. Global Presence:
Brady Corp. has a global presence, with operations in more than 50 countries and distribution channels in over 100 countries. Its products are available worldwide through direct sales, distributors, and online retailers.
6. Awards and Recognition:
Brady Corp. has received several awards and recognition for its products and services, including the Frost & Sullivan Global Market Leadership Award, the Industrial Supply Association Corporate Growth Award, and the Wisconsin Manufacturer of the Year Award.
7. Corporate Social Responsibility:
Brady Corp. is committed to sustainability and corporate social responsibility. The company has implemented several initiatives to reduce its environmental impact, promote ethical business practices, and support the communities in which it operates.
8. Employment Opportunities:
Brady Corp. offers a variety of career opportunities, including in engineering, marketing, sales, operations, and more. The company values diversity and promotes a culture of inclusivity and collaboration.
9. Investor Relations:
Investors can find information about Brady Corp.'s financial performance, stock information, and corporate governance on the company's investor relations website.
10. Contact Information:
For general inquiries, customers can contact Brady Corp. by phone, email, or through their website. The company also has a presence on social media platforms, including LinkedIn, Twitter, and YouTube.

QnJhZHkgQ2 9ycG9yYXRp b24gaXMgYS Bjb21wYW55 IHRoYXQgbW FrZXMgYSBs b3Qgb2YgZG lmZmVyZW50 IHByb2R1Y3 RzIHRoYXQg aGVscCBwZW 9wbGUgYW5k IGJ1c2luZX NzZXMgc3Rh eSBvcmdhbm l6ZWQgYW5k IHNhZmUuIE ltYWdpbmUg eW91IGFyZS B0cnlpbmcg dG8gZmluZC B5b3VyIGZh dm9yaXRlIH RveSBpbiBh IGJpZyBwaW xlIG9mIHRo aW5ncy4gSW YgZXZlcnl0 aGluZyBoYW QgYSBsYWJl bCBvciBhIH RhZywgaXQg d291bGQgYm UgbXVjaCBl YXNpZXIgdG 8gZmluZCwg cmlnaHQ/IF RoYXTigJlz IHNpbWlsYX IgdG8gd2hh dCBCcmFkeS Bkb2VzITxi cj5UaGV5IG NyZWF0ZSBs YWJlbHMsIH NpZ25zLCBh bmQgaWRlbn RpZmljYXRp b24gcHJvZH VjdHMuIEZv ciBpbnN0YW 5jZSwgaWYg eW91IGdvIH RvIGEgaG9z cGl0YWwsIH lvdSBtaWdo dCBzZWUgbG FiZWxzIG9u IG1lZGljaW 5lIGJvdHRs ZXMgb3Igc2 lnbnMgc2hv d2luZyBkaX JlY3Rpb25z LiBUaGVzZS BoZWxwIGV2 ZXJ5b25lIG tub3cgd2hh dCB0aGluZ3 MgYXJlIGFu ZCBrZWVwIH Blb3BsZSBz YWZlLiBUaG V5IGFsc28g bWFrZSB0aG luZ3MgbGlr ZSBzYWZldH kgbWF0ZXJp YWxzIGFuZC BwcmludGVy cyB0aGF0IG hlbHAgYnVz aW5lc3Nlcy BjcmVhdGUg dGhlc2UgbG FiZWxzIHRo ZW1zZWx2ZX MuPGJyPkJy YWR5IG1ha2 VzIG1vbmV5 IGJ5IHNlbG xpbmcgdGhl c2UgcHJvZH VjdHMgdG8g Y29tcGFuaW VzLCBzY2hv b2xzLCBob3 NwaXRhbHMs IGFuZCBvdG hlciBwbGFj ZXMgdGhhdC BuZWVkIG9y Z2FuaXphdG lvbiBhbmQg c2FmZXR5Li BTaW5jZSBt YW55IGJ1c2 luZXNzZXMg bmVlZCB0by BoYXZlIHRo aW5ncyBvcm dhbml6ZWQs IGxhYmVsZW QsIGFuZCBz YWZlLCBCcm FkeSBoYXMg bG90cyBvZi BjdXN0b21l cnMuPGJyPk JyYWR5IGlz IHN1Y2Nlc3 NmdWwgZm9y IGEgZmV3IH JlYXNvbnMu IEZpcnN0LC B0aGV5IGhh dmUgYmVlbi Bhcm91bmQg Zm9yIGEgbG 9uZyB0aW1l IGFuZCB1bm RlcnN0YW5k IHdoYXQgcG VvcGxlIG5l ZWQuIFRoZX kgYWxzbyBr ZWVwIGNvbW luZyB1cCB3 aXRoIG5ldy BpZGVhcyBh bmQgcHJvZH VjdHMgdG8g aGVscCB0aG VpciBjdXN0 b21lcnMuIF NpbmNlIG9y Z2FuaXphdG lvbiBhbmQg c2FmZXR5IG FyZSBpbXBv cnRhbnQgaW 4gbWFueSBw bGFjZXMsIH RoZWlyIHBy b2R1Y3RzIH dpbGwgYWx3 YXlzIGJlIG 5lZWRlZC4g QXMgbW9yZS BidXNpbmVz c2VzIGdyb3 cgYW5kIG1v cmUgcGVvcG xlIHBheSBh dHRlbnRpb2 4gdG8gc2Fm ZXR5LCBCcm FkeSB3aWxs IGxpa2VseS Bjb250aW51 ZSB0byBiZS BhIHN1Y2Nl c3NmdWwgY2 9tcGFueSBp biB0aGUgZn V0dXJlLjxi cj4=

MS4gTG9uZy Bjb21wYW55 IGhpc3Rvcn k6IEJyYWR5 IENvcnAuIG hhcyBiZWVu IGluIG9wZX JhdGlvbiBm b3Igb3Zlci AxMDAgeWVh cnMsIHByb3 ZpZGluZyBj b250aW51b3 VzIHZhbHVl IHRvIGl0cy BjdXN0b21l cnMgYW5kIH N0YWtlaG9s ZGVycy48Yn I+Mi4gR2xv YmFsIHByZX NlbmNlOiBU aGUgY29tcG FueSBoYXMg YSBnbG9iYW wgcmVhY2gs IHdpdGggb3 BlcmF0aW9u cyBpbiBvdm VyIDUwIGNv dW50cmllcy BhbmQgY3Vz dG9tZXJzIG luIG1vcmUg dGhhbiAxMD AgY291bnRy aWVzLjxicj 4zLiBEaXZl cnNlIHByb2 R1Y3QgcG9y dGZvbGlvOi BCcmFkeSBD b3JwLiBvZm ZlcnMgYSBk aXZlcnNlIH JhbmdlIG9m IHByb2R1Y3 RzIGFuZCBz ZXJ2aWNlcy wgaW5jbHVk aW5nIGlkZW 50aWZpY2F0 aW9uIHN5c3 RlbXMsIHNh ZmV0eSBhbm QgZmFjaWxp dHkgaWRlbn RpZmljYXRp b24sIGFuZC B3b3JrcGxh Y2Ugc2FmZX R5IGFuZCBj b21wbGlhbm NlIHNvbHV0 aW9ucy48Yn I+NC4gSW5u b3ZhdGlvbi BhbmQgdGVj aG5vbG9neT ogVGhlIGNv bXBhbnkgZm 9jdXNlcyBv biBpbm5vdm F0aW9uIGFu ZCB0ZWNobm 9sb2dpY2Fs IGFkdmFuY2 VtZW50cyB0 byBkZXZlbG 9wIG5ldyBw cm9kdWN0cy BhbmQgaW1w cm92ZSBleG lzdGluZyBv bmVzIHRvIG JldHRlciBt ZWV0IGN1c3 RvbWVyIG5l ZWRzLjxicj 41LiBTdHJv bmcgY3VzdG 9tZXIgcmVs YXRpb25zaG lwczogQnJh ZHkgQ29ycC 4gaGFzIGEg c3Ryb25nIG ZvY3VzIG9u IGJ1aWxkaW 5nIGFuZCBt YWludGFpbm luZyBjdXN0 b21lciByZW xhdGlvbnNo aXBzIHRocm 91Z2ggcGVy c29uYWxpem VkIHNlcnZp Y2UgYW5kIH N1cHBvcnQu PGJyPjYuIE NvbW1pdG1l bnQgdG8gc3 VzdGFpbmFi aWxpdHk6IF RoZSBjb21w YW55IGlzIG NvbW1pdHRl ZCB0byBpbn RlZ3JhdGlu ZyBzdXN0YW luYWJpbGl0 eSBpbnRvIG l0cyBidXNp bmVzcyBvcG VyYXRpb25z LCBwcm9kdW N0cywgYW5k IHN1cHBseS BjaGFpbi48 YnI+Ny4gQ2 9ycG9yYXRl IHJlc3Bvbn NpYmlsaXR5 OiBCcmFkeS BDb3JwLiB0 YWtlcyBpdH MgY29ycG9y YXRlIHJlc3 BvbnNpYmls aXR5IHNlcm lvdXNseSBh bmQgaGFzIG ltcGxlbWVu dGVkIHZhcm lvdXMgaW5p dGlhdGl2ZX MgdG8gcHJv bW90ZSBldG hpY2FsIGFu ZCByZXNwb2 5zaWJsZSBi dXNpbmVzcy BwcmFjdGlj ZXMuPGJyPj guIEN1bHR1 cmUgb2Ygc2 FmZXR5OiBX aXRoIGl0cy Bjb3JlIGJ1 c2luZXNzIG JlaW5nIHdv cmtwbGFjZS BzYWZldHkg YW5kIGNvbX BsaWFuY2Ug c29sdXRpb2 5zLCBCcmFk eSBDb3JwLi Bwcm9tb3Rl cyBhIGN1bH R1cmUgb2Yg c2FmZXR5IH dpdGhpbiBp dHMgb3duIG 9wZXJhdGlv bnMgYW5kIG Ftb25nIGl0 cyBjdXN0b2 1lcnMuPGJy PjkuIEVtcG xveWVlIGRl dmVsb3BtZW 50IGFuZCBk aXZlcnNpdH k6IFRoZSBj b21wYW55IH ZhbHVlcyBl bXBsb3llZS BkZXZlbG9w bWVudCBhbm QgZGl2ZXJz aXR5LCBwcm 9tb3Rpbmcg YSBkaXZlcn NlIGFuZCBp bmNsdXNpdm Ugd29yayBl bnZpcm9ubW VudC48YnI+ MTAuIFN0cm 9uZyBmaW5h bmNpYWwgcG VyZm9ybWFu Y2U6IEJyYW R5IENvcnAu IGhhcyBhIH N0cm9uZyB0 cmFjayByZW NvcmQgb2Yg ZmluYW5jaW FsIHBlcmZv cm1hbmNlLC B3aXRoIGNv bnNpc3Rlbn QgcmV2ZW51 ZSBncm93dG ggYW5kIHBy b2ZpdGFiaW xpdHkgb3Zl ciB0aGUgeW VhcnMu

VGhlIEJyYW R5IENvcnAu IGlzIGEgZ2 xvYmFsIGxl YWRlciBpbi BpZGVudGlm aWNhdGlvbi BhbmQgc2Fm ZXR5IHNvbH V0aW9ucyBm b3Igd29ya3 BsYWNlIGVu dmlyb25tZW 50cy4gVGhl aXIgYnVzaW 5lc3MgbW9k ZWwgaW5jbH VkZXMgZGVz aWduaW5nLC BtYW51ZmFj dHVyaW5nLC BhbmQgZGlz dHJpYnV0aW 5nIHByb2R1 Y3RzIGFuZC BzZXJ2aWNl cyB0aGF0IG hlbHAgYnVz aW5lc3Nlcy BpbmNyZWFz ZSBzYWZldH ksIHNlY3Vy aXR5LCBwcm 9kdWN0aXZp dHksIGFuZC BwZXJmb3Jt YW5jZS4gPG JyPlRoZXkg b2ZmZXIgYS B3aWRlIHJh bmdlIG9mIG lkZW50aWZp Y2F0aW9uIG FuZCBzYWZl dHkgcHJvZH VjdHMgc3Vj aCBhcyBsYW JlbHMsIHNp Z25zLCB0YW dzLCBwcmlu dGVycywgc2 9mdHdhcmUs IGFuZCBzZX J2aWNlcyBz dWNoIGFzIH NhZmV0eSBj b25zdWx0aW 5nLCB0cmFp bmluZywgYW 5kIGNvbXBs aWFuY2UgYX VkaXRzLiBU aGV5IHNlcn ZlIHZhcmlv dXMgaW5kdX N0cmllcyBp bmNsdWRpbm cgaW5kdXN0 cmlhbCwgaG VhbHRoY2Fy ZSwgZ292ZX JubWVudCwg YWVyb3NwYW NlIGFuZCBk ZWZlbnNlLC BlZHVjYXRp b24sIGFuZC B0cmFuc3Bv cnRhdGlvbi 48YnI+VGhl aXIgYnVzaW 5lc3MgbW9k ZWwgaXMgYm FzZWQgb24g cHJvdmlkaW 5nIGlubm92 YXRpdmUgc2 9sdXRpb25z IHRoYXQgbW VldCB0aGVp ciBjdXN0b2 1lcnMnIGlk ZW50aWZpY2 F0aW9uIGFu ZCBzYWZldH kgbmVlZHMs IGFuZCBtYW ludGFpbmlu ZyBzdHJvbm cgcmVsYXRp b25zaGlwcy B3aXRoIHRo ZWlyIGRpc3 RyaWJ1dGlv biBwYXJ0bm VycyBhbmQg ZW5kLXVzZX JzLiBUaGVp ciBnb2FsIG lzIHRvIGNv bnRpbnVvdX NseSBpbXBy b3ZlIGFuZC BleHBhbmQg dGhlaXIgcH JvZHVjdCBv ZmZlcmluZ3 MgYW5kIHNl cnZpY2VzIH RvIG1lZXQg dGhlIGV2b2 x2aW5nIG5l ZWRzIG9mIH RoZWlyIGN1 c3RvbWVycy 4gVGhleSBh bHNvIGZvY3 VzIG9uIHN1 c3RhaW5hYm lsaXR5IGFu ZCBoYXZlIG ludGVncmF0 ZWQgZW52aX Jvbm1lbnRh bGx5LWZyaW VuZGx5IHBy YWN0aWNlcy BpbnRvIHRo ZWlyIG9wZX JhdGlvbnMu

AI has the potential to pose threats to Brady Corp’s products, services, and competitive positioning in several ways:
1. Substitution: If AI technologies develop advanced capabilities that can replace physical label solutions or other products offered by Brady Corp, customers may opt for digital alternatives that provide similar functionalities at a lower cost or with greater convenience. For instance, automated printing systems or AI-powered label design tools might reduce the need for traditional label products.
2. Disintermediation: AI can streamline processes within industries that Brady Corp serves, including manufacturing, logistics, and healthcare. By automating functionalities such as inventory management or labeling through software applications, companies may reduce reliance on third-party vendors like Brady Corp. This can directly impact sales and market share.
3. Margin Pressure: As AI solutions become more prevalent, the competitive landscape may shift, leading to price competition. Companies utilizing AI could achieve lower production costs and offer products at reduced prices, compelling Brady Corp to adjust its pricing strategy. This can lead to tighter profit margins if the company does not invest in innovation or operational efficiency.
In summary, while AI may present risks to Brady Corp’s competitive position, it could also offer opportunities for innovation and efficiency improvement if the company adapts to the changing landscape effectively.

The sensitivity of Brady Corporation’s earnings, cash flow, and valuation to changes in interest rates can be analyzed from several perspectives.
1. Earnings: Interest rates can impact Brady Corporation’s earnings primarily through the cost of borrowing. If interest rates rise, the company may face higher interest expenses on any outstanding debt, which could reduce net income. Additionally, higher interest rates tend to slow economic growth, which might affect customer demand for Brady’s products. Conversely, if rates decrease, borrowing costs may decline, potentially boosting earnings.
2. Cash Flow: The company’s cash flow is similarly influenced by interest rates. Higher rates mean increased costs for servicing debt, which could affect free cash flow available for investments or dividends. Changes in interest rates also affect capital allocation decisions; for instance, if borrowing becomes more expensive, Brady may delay or scale back planned investments or acquisitions. On the other hand, lower rates could enhance cash flow by reducing interest payments, allowing for more capital to be directed toward growth initiatives.
3. Valuation: Interest rates have a considerable impact on valuation, especially in discounted cash flow (DCF) models. When rates rise, the discount rate used in such models may increase, leading to a lower present value of future cash flows and, therefore, a lower valuation for the company. Conversely, lower interest rates reduce the discount rate, potentially increasing the valuation. Additionally, broader market valuations can shift with interest rate changes, as higher rates might lead investors to seek higher yields in fixed-income securities, potentially shrinking the valuation multiples for stocks like Brady Corporation.
In summary, Brady Corporation’s earnings, cash flow, and valuation are all interconnected and can be significantly affected by fluctuations in interest rates, with potential negative impacts from rising rates and positive effects from declining rates.

QSByZWFsaX N0aWMgc2Nl bmFyaW8gdG hhdCBjb3Vs ZCBwZXJtYW 5lbnRseSBp bXBhaXIgQn JhZHkgQ29y cG9yYXRpb2 7igJlzIGVj b25vbWljcy BvdmVyIHRo ZSBuZXh0ID MtNSB5ZWFy cyBpcyBhIH NpZ25pZmlj YW50IGFuZC BzdXN0YWlu ZWQgc2hpZn QgdG93YXJk cyBkaWdpdG FsIHNvbHV0 aW9ucyBpbi BpbmR1c3Ry aWVzIHRyYW RpdGlvbmFs bHkgcmVsaW FudCBvbiBw aHlzaWNhbC BsYWJlbGlu ZyBhbmQgaW RlbnRpZmlj YXRpb24gcH JvZHVjdHMu IElmIHRoaX MgdHJlbmQg YWNjZWxlcm F0ZXMgZHVl IHRvIGFkdm FuY2VtZW50 cyBpbiB0ZW Nobm9sb2d5 IGFuZCBzaG lmdHMgaW4g Y3VzdG9tZX IgcHJlZmVy ZW5jZXPigJ RwZXJoYXBz IGRyaXZlbi BieSBpbmNy ZWFzZWQgYX V0b21hdGlv biwgSW9UIG ludGVncmF0 aW9uLCBhbm Qgc3VzdGFp bmFiaWxpdH kgaW5pdGlh dGl2ZXPigJ RCcmFkeSBj b3VsZCBmYW NlIGRlY2xp bmluZyBkZW 1hbmQgZm9y IGl0cyBjb3 JlIHByb2R1 Y3RzLCBzdW NoIGFzIGxh YmVscywgc2 lnbnMsIGFu ZCBwcmludG VyIHN5c3Rl bXMuPGJyPk luIHRoaXMg c2NlbmFyaW 8sIHRoZSBj b21wYW554o CZcyBtYXJn aW5zIHdvdW xkIGxpa2Vs eSBkZWNyZW FzZSBhcyBy ZXZlbnVlcy Bmcm9tIHRy YWRpdGlvbm FsIHByb2R1 Y3QgbGluZX MgZGltaW5p c2guIENvbX BldGl0b3Jz IHdobyBhZG FwdCBtb3Jl IHF1aWNrbH kgdG8gZGln aXRhbCBzb2 x1dGlvbnMg bWlnaHQgdG FrZSBtYXJr ZXQgc2hhcm UsIGZ1cnRo ZXIgY29tcH Jlc3Npbmcg QnJhZHnigJ lzIHByaWNp bmcgcG93ZX IgYW5kIG1h cmdpbnMuIF RoaXMgcHJl c3N1cmUgY2 91bGQgbGVh ZCB0byBlY2 9ub21pZXMg b2Ygc2NhbG UgaXNzdWVz LCB3aGVyZS BmaXhlZCBj b3N0cyByZW 1haW4gY29u c3RhbnQgd2 hpbGUgcmV2 ZW51ZSBkZW NsaW5lcywg ZXhhY2VyYm F0aW5nIG1h cmdpbiBlcm 9zaW9uLjxi cj5DYXNoIG Zsb3cgY291 bGQgYmUgc2 lnbmlmaWNh bnRseSBhZm ZlY3RlZC4g QXMgc2FsZX MgZGVjbGlu ZSBhbmQgbW FyZ2lucyBl cm9kZSwgQn JhZHnigJlz IG9wZXJhdG luZyBjYXNo IGZsb3cgd2 91bGQgbGlr ZWx5IGRlY3 JlYXNlLCBs aW1pdGluZy B0aGUgY29t cGFueeKAmX MgYWJpbGl0 eSB0byBpbn Zlc3QgaW4g bmV3IHByb2 R1Y3QgZGV2 ZWxvcG1lbn Qgb3IgbmVj ZXNzYXJ5IH RyYW5zZm9y bWF0aW9ucy B0b3dhcmQg ZGlnaXRhbC Bzb2x1dGlv bnMuIElmIH RoZSBjb21w YW55IGlzIG ZvcmNlZCB0 byBlbmdhZ2 UgaW4gYWdn cmVzc2l2ZS BwcmljZSBy ZWR1Y3Rpb2 5zIG9yIGlu Y3JlYXNlZC BtYXJrZXRp bmcgdG8gbW FpbnRhaW4g bWFya2V0IH NoYXJlLCB0 aGlzIGNvdW xkIGZ1cnRo ZXIgc3RyYW luIGNhc2gg Zmxvdy48Yn I+VGhlIGJh bGFuY2Ugc2 hlZXQgd291 bGQgYWxzby ByZWZsZWN0 IHRoZSBpbX BhY3RzIG9m IHRoaXMgc2 NlbmFyaW8u IElmIHJldm VudWVzIGRy b3Agc2lnbm lmaWNhbnRs eSwgQnJhZH kgbWF5IHNl ZSBhbiBpbm NyZWFzZSBp biBhY2NvdW 50cyByZWNl aXZhYmxlIG lmIGN1c3Rv bWVycyBkZW xheSBwYXlt ZW50cyBpbi ByZXNwb25z ZSB0byB0aG VpciBmaW5h bmNpYWwgY2 hhbGxlbmdl cy4gSW52ZW 50b3J5IGxl dmVscyBjb3 VsZCByaXNl IGlmIHRoZS Bjb21wYW55 IHN0cnVnZ2 xlcyB0byBh bGlnbiBwcm 9kdWN0aW9u IHdpdGggZG VjcmVhc2Vk IGRlbWFuZC wgbGVhZGlu ZyB0byBwb3 RlbnRpYWwg d3JpdGUtZG 93bnMuIEFk ZGl0aW9uYW xseSwgaWYg QnJhZHkgbm VlZHMgdG8g Ym9ycm93IH RvIGZ1bmQg b3BlcmF0aW 9ucyBkdXJp bmcgdGhpcy B0cmFuc2l0 aW9uLCBpdH MgZGVidCBs ZXZlbHMgbW lnaHQgaW5j cmVhc2UsIH JhaXNpbmcg Y29uY2Vybi BhYm91dCBp dHMgc29sdm VuY3kgYW5k IGZpbmFuY2 lhbCBzdGFi aWxpdHkuPG JyPk92ZXJh bGwsIHRoZS Bjb21iaW5l ZCBlZmZlY3 RzIG9mIGRl Y2xpbmluZy ByZXZlbnVl cywgY29tcH Jlc3NlZCBt YXJnaW5zLC ByZWR1Y2Vk IGNhc2ggZm xvdywgYW5k IHBvdGVudG lhbCBpbmNy ZWFzZXMgaW 4gZGVidCBj b3VsZCByZX N1bHQgaW4g YSB3ZWFrZW 5lZCBmaW5h bmNpYWwgcG 9zaXRpb24g Zm9yIEJyYW R5IENvcnBv cmF0aW9uLC B3aXRoIGxv bmctdGVybS BpbXBsaWNh dGlvbnMgZm 9yIGl0cyBn cm93dGggcH Jvc3BlY3Rz IGFuZCBtYX JrZXQgY29t cGV0aXRpdm VuZXNzLjxi cj4=

CiAgICAgIC AgICAgIDxk aXYgc3R5bG U9J3dpZHRo OiAxMDAlOy BkaXNwbGF5 OiBmbGV4Oy BqdXN0aWZ5 LWNvbnRlbn Q6IGNlbnRl cjsnPgogIC AgICAgICAg ICAgICAgPG RpdiBzdHls ZT0nCiAgIC AgICAgICAg ICAgICAgIC AgZGlzcGxh eTogZmxleD sKICAgICAg ICAgICAgIC AgICAgICBh bGlnbi1pdG VtczogY2Vu dGVyOwogIC AgICAgICAg ICAgICAgIC AgIGJhY2tn cm91bmQtY2 9sb3I6ICNm MGY0Zjg7Ci AgICAgICAg ICAgICAgIC AgICAgYm9y ZGVyOiAxcH ggc29saWQg I2QxZTNmMD sKICAgICAg ICAgICAgIC AgICAgICBi b3JkZXItcm FkaXVzOiAx MHB4OwogIC AgICAgICAg ICAgICAgIC AgIHBhZGRp bmc6IDEwcH g7CiAgICAg ICAgICAgIC AgICAgICAg bWFyZ2luOi AyMHB4IDA7 CiAgICAgIC AgICAgICAg ICAgICAgZm 9udC1mYW1p bHk6ICJTZW dvZSBVSSIs IFJvYm90by wgc2Fucy1z ZXJpZjsKIC AgICAgICAg ICAgICAgIC AgICBib3gt c2hhZG93Oi AwIDJweCA2 cHggcmdiYS gwLCAwLCAw LCAwLjA1KT sKICAgICAg ICAgICAgIC AgICAgICBt YXgtd2lkdG g6IDkwMHB4 OwogICAgIC AgICAgICAg ICAgICAgIH dpZHRoOiAx MDAlOyc+Cg ogICAgICAg ICAgICAgIC AgICAgIDxp bWcgc3JjPS Jhc3NldHMv bG9nb3MvNG FMOXk0Tklz Z0E5OGpwaU gzWjgud2Vi cCIgYWx0PS JCcmFkeSBD b3JwIiB0aX RsZT0iQnJh ZHkgQ29ycC IgIGNsYXNz PSJpbWctZm x1aWQiIGhl aWdodD01MC B3aWR0aD01 MCBsb2FkaW 5nPSdsYXp5 JyBzdHlsZT 0nYm9yZGVy LXJhZGl1cz ogNnB4Oyc+ CgogICAgIC AgICAgICAg ICAgICAgID xkaXYgc3R5 bGU9J2ZsZX g6IDE7IHRl eHQtYWxpZ2 46IGNlbnRl cjsgbWFyZ2 luLWxlZnQ6 IDVweDsnPg ogICAgICAg ICAgICAgIC AgICAgICAg ICA8cCBzdH lsZT0nZm9u dC1zaXplOi AyNnB4OyBj b2xvcjogIz MzMzsgbWFy Z2luLWJvdH RvbTogMTVw eDsnPgogIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAg8J+TiC BXYW50IHRv IHJlYWQgbW 9yZSBhYm91 dCBCcmFkeS BDb3JwPwog ICAgICAgIC AgICAgICAg ICAgICAgIC A8L3A+Cgog ICAgICAgIC AgICAgICAg ICAgICAgIC A8YSBocmVm PSdpbmRleC 5waHA/cGFn ZT1zaWdudX AnIHN0eWxl PScKICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg IGJhY2tncm 91bmQtY29s b3I6ICMwMD dCRkY7CiAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgICBjb2xv cjogI2ZmZj sKICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIH BhZGRpbmc6 IDEwcHggMj BweDsKICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgIGJvcmRl ci1yYWRpdX M6IDVweDsK ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgIHRl eHQtZGVjb3 JhdGlvbjog bm9uZTsKIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgIGZvbn Qtd2VpZ2h0 OiBib2xkOw ogICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgbW FyZ2luLXJp Z2h0OiAxMH B4OwogICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgdHJhbnNp dGlvbjogYm Fja2dyb3Vu ZC1jb2xvci AwLjNzIGVh c2U7JwogIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgb25tb3 VzZW92ZXI9 J3RoaXMuc3 R5bGUuYmFj a2dyb3VuZE NvbG9yPSIj MDA1NmIzIi cKICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIG 9ubW91c2Vv dXQ9J3RoaX Muc3R5bGUu YmFja2dyb3 VuZENvbG9y PSIjMDA3Qk ZGIic+CiAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgICBTaWdu IHVwIGZvci BmcmVlCiAg ICAgICAgIC AgICAgICAg ICAgICAgID wvYT4KCiAg ICAgICAgIC AgICAgICAg ICAgICAgID xzcGFuIHN0 eWxlPSdtYX JnaW46IDAg OHB4OyBjb2 xvcjogIzU1 NTsnPm9yPC 9zcGFuPgoK ICAgICAgIC AgICAgICAg ICAgICAgIC AgPGEgaHJl Zj0naW5kZX gucGhwP3Bh Z2U9bG9naW 4nIHN0eWxl PScKICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg IGNvbG9yOi AjMDA3QkZG OwogICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg dGV4dC1kZW NvcmF0aW9u OiB1bmRlcm xpbmU7CiAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgICBmb250 LXdlaWdodD ogNTAwOyc+ CiAgICAgIC AgICAgICAg ICAgICAgIC AgICAgICBs b2cgaW4KIC AgICAgICAg ICAgICAgIC AgICAgICAg PC9hPgoKCi AgICAgICAg ICAgICAgIC AgICAgICAg IDxwIHN0eW xlPSdtYXJn aW4tdG9wOi AxNXB4OyBm b250LXNpem U6IDEzcHg7 IGZvbnQtd2 VpZ2h0OiBi b2xkOyBjb2 xvcjogI2Qz MmYyZjsnPg ogICAgICAg ICAgICAgIC AgICAgICAg ICAgICAg8J +agCBEb27i gJl0IG1pc3 MgPGk+IlRo ZSBDaGVja2 xpc3QgVmFs dWUgSW52ZX N0b3Ig4oCU IEEgU21hcn RlciBXYXkg dG8gUGljay BTdG9ja3Mi PC9pPiDigJ QgZnJlZSEK ICAgICAgIC AgICAgICAg ICAgICAgIC AgPC9wPgoK ICAgICAgIC AgICAgICAg ICAgICAgIC AgPCEtLQog ICAgICAgIC AgICAgICAg ICAgICAgIC A8ZGl2IHN0 eWxlPSdtYX JnaW4tdG9w OiAxMnB4Oy Bmb250LXNp emU6IDEzcH g7IGNvbG9y OiAjNDQ0Oy c+CiAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIC BTaWduIHVw IG5vdyBhbm QgZ2V0IG91 ciBmcmVlIG VCb29rIAog ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgPGI+ VGhlIENoZW NrbGlzdCBW YWx1ZSBJbn Zlc3RvciDi gJQgQSBTbW FydGVyIFdh eSB0byBQaW NrIFN0b2Nr czwvYj4KIC AgICAgICAg ICAgICAgIC AgICAgICAg PC9kaXY+Ci AgICAgICAg ICAgICAgIC AgICAgICAg IC0tPgogIC AgICAgICAg ICAgICAgIC AgICAgICA8 IS0tCiAgIC AgICAgICAg ICAgICAgIC AgICAgIDxk aXYgc3R5bG U9J21hcmdp bi10b3A6ID E2cHg7IGZv bnQtc2l6ZT ogMTRweDsg Y29sb3I6IC M0NDQ7IGZv bnQtZmFtaW x5OiAtYXBw bGUtc3lzdG VtLCBCbGlu a01hY1N5c3 RlbUZvbnQs IFNlZ29lIF VJLCBSb2Jv dG8sIEhlbH ZldGljYSBO ZXVlLCBzYW 5zLXNlcmlm OyBsaW5lLW hlaWdodDog MS42Oyc+Ci AgICAgICAg ICAgICAgIC AgICAgICAg ICAgICBIYX ZlIHlvdSBo ZWFyZCBhYm 91dCBvdXIg c2hvcnQgPH N0cm9uZyBz dHlsZT0nZm 9udC13ZWln aHQ6IDYwMD snPkRhaWx5 IFZpZGVvIE 5ld3NsZXR0 ZXI8L3N0cm 9uZz4/CiAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgICA8YSBo cmVmPSdodH RwczovL3d3 dy5pbnNpZ2 h0ZnVsdmFs dWUuY29tL2 5ld3NsZXR0 ZXIucGhwJy B0YXJnZXQ9 J19ibGFuay cgc3R5bGU9 J2NvbG9yOi AjMDA3QkZG OyB0ZXh0LW RlY29yYXRp b246IG5vbm U7IGZvbnQt d2VpZ2h0Oi A1MDA7IG1h cmdpbi1sZW Z0OiA2cHg7 Jz4KICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgICBGaW 5kIG91dCBt b3JlCiAgIC AgICAgICAg ICAgICAgIC AgICAgICAg ICA8L2E+Ci AgICAgICAg ICAgICAgIC AgICAgICAg IDwvZGl2Pg ogICAgICAg ICAgICAgIC AgICAgICAg ICAtLT4KIC AgICAgICAg ICAgICAgIC AgICA8L2Rp dj4KICAgIC AgICAgICAg ICAgIDwvZG l2PgogICAg ICAgICAgIC A8L2Rpdj4K ICAgICAgIC AgICAgCiAg ICAgICAgCi AgICAgICAg PHNwYW4gY2 xhc3M9J2Js dXJyZWQtdG V4dCc+CiAg ICAgICAgIC AgIE1TNGdW R2hsSUcgTn ZiWEJoYm5r ZyBkMkZ6SU dadmRXIDVr WldRZ2FXNG cgTVRreE5D QmllUyBCWG FXeHNhV0Z0 IElFZ3VJRU p5WVcgUjVM Q0J6Wld4cy BhVzVuSUZO aGJpIDFUWV dabElITjAg WldWc0lITn BaMiA1eklH RnVaQ0IwIF lXZHpJR1p2 Y2kgQnBaR1 Z1ZEdsbSBl V2x1WnlCb1 lYIHBoY21S dmRYTWcgYl dGMFpYSnBZ VyB4eklHbH VJR2x1IFpI VnpkSEpwWV cgd2dkMjl5 YTNCcyBZV0 5sY3k0OFlu IEkrTWk0Z1 FuSmggWkhr Z1EyOXljQy A0Z2FYTWdi bTkzIElHRW daMnh2WW0g RnNJR3hsWV dSbCBjaUJw YmlCellXIF psZEhrZ1lX NWsgSUdsa1 pXNTBhVyBa cFkyRjBhVz l1IElIQnli MlIxWTMgUn pMQ0J2Wm1a bCBjbWx1Wn lCemIyIHgx ZEdsdmJuTW cgZEc4Z2FH VnNjQyBCam RYTjBiMjFs IGNuTWdhVz VqY20gVmhj MlVnZDI5eS BhM0JzWVdO bElIIE5oWm 1WMGVTQmgg Ym1RZ1kyOX RjRyB4cFlX NWpaUzQ4IF luSStNeTRn VkcgaGxJR0 52YlhCaCBi bm5pZ0psek lIIEJ5YjJS MVkzUnogSU dGeVpTQjFj MiBWa0lHbH VJR0VnIGQy bGtaU0J5WV cgNW5aU0J2 WmlCcCBibV IxYzNSeWFX IFZ6TENCcG JtTnMgZFdS cGJtY2diVy BGdWRXWmhZ M1IxIGNtbH VaeXdnWTIg OXVjM1J5ZF dOMCBhVzl1 TENCb1pXIE ZzZEdoallY SmwgTENCaG JtUWdkSCBK aGJuTndiM0 owIFlYUnBi MjR1UEcgSn lQalF1SUVK eSBZV1I1SU VOdmNuIEF1 SUdseklHRW cgUm05eWRI VnVaUyBBeE 1EQXdJR052 IGJYQmhibm tzSUggZHBk R2dnWVc1dS BkV0ZzSUhK bGRtIFZ1ZF dWeklHOW0g SUc5MlpYSW dKRCBFdU1T QmlhV3hzIG FXOXVJR2x1 SUQgSXdNak F1UEdKeSBQ alV1SUZSb1 pTIEJqYjIx d1lXNTUgSU doaGN5QnZk bSBWeUlEWX NNREF3IElH VnRjR3h2ZV cgVmxjeUIz YjNKcyBaSG RwWkdVc0lI IGRwZEdnZ2 IzQmwgY21G MGFXOXVjeS BCcGJpQXlN eUJqIGIzVn VkSEpwWlgg TXVQR0p5UG pZdSBJRWx1 SUdGa1pHIG wwYVc5dUlI UnYgSUhOaF ptVjBlUyBC aGJtUWdhV1 JsIGJuUnBa bWxqWVggUn BiMjRnY0hK diBaSFZqZE hNc0lFIEp5 WVdSNUlFTn YgY25BdUlH RnNjMiA4Z2 IyWm1aWEp6 IElIZHZjbX R3YkcgRmpa U0J6WVdabC BkSGtnWTI5 dWMzIFZzZE dsdVp5Qnog WlhKMmFXTm xjeSBCMGJ5 Qm9aV3h3IE lHTjFjM1J2 YlcgVnljeU IzYVhSbyBJ R052YlhCc2 FXIEZ1WTJV Z1lXNWsgSU hKcGMyc2dj bSBWa2RXTj BhVzl1IExq eGljajQzTG kgQkNjbUZr ZVNCRCBiM0 p3TGlCb1lY IE1nWVNCem RISnYgYm1j Z1kyOXRiVy BsMGJXVnVk Q0IwIGJ5Qn pkWE4wWVcg bHVZV0pwYk dsMCBlU0Jo Ym1RZ2FHIE Z6SUdsdGNH eGwgYldWdW RHVmtJRyBs dWFYUnBZWF JwIGRtVnpJ SFJ2SUggSm xaSFZqWlNC cCBkSE1nWl c1MmFYIEp2 Ym0xbGJuUm ggYkNCcGJY QmhZMyBRc0 lHbHVZMngx IFpHbHVaeU IxYzIgbHVa eUJ5Wlc1bC BkMkZpYkdV Z1pXIDVsY2 1kNUlITnYg ZFhKalpYTW dZVyA1a0lI SmxaSFZqIG FXNW5JSGRo YzMgUmxMan hpY2o0NCBM aUJVYUdVZ1 kyIDl0Y0dG dWVTQm8gWV hNZ1lTQnNi MiA1bklHaH BjM1J2IGNu a2diMllnYV cgNXViM1po ZEdsdiBiaX dnZDJsMGFD IEJ2ZG1WeU lERXMgTlRB d0lHRmpkRy BsMlpTQndZ WFJsIGJuUn pJR0Z1WkMg QndZWFJsYm 5RZyBZWEJ3 YkdsallYIF JwYjI1eklI ZHYgY214a2 QybGtaUyA0 OFluSStPUz RnIFFuSmha SGtnUTIgOX ljQzRnYUdG eiBJSGR2Ym lCdWRXIDFs Y205MWN5Qn AgYm1SMWMz UnllUyBCaG QyRnlaSE1n IFptOXlJR2 wwY3kgQndj bTlrZFdOMC BjeUJoYm1R Z2MyIFZ5ZG 1salpYTXMg SUdsdVkyeD FaRyBsdVp5 QjBhR1VnIF UwaEJVbEFn S0YgTmhabV YwZVNCSSBa V0ZzZEdnZ1 FXIE5vYVdW MlpXMWwgYm 5RZ1VtVmpi MiBkdWFYUn BiMjRnIFVI SnZaM0poYl Mga2dRWGRo Y21RZyBabk p2YlNCMGFH IFVnVDJOam RYQmggZEds dmJtRnNJRi BOaFptVjBl U0JoIGJtUW dTR1ZoYkgg Um9JRUZrYl dsdSBhWE4w Y21GMGFXID l1SUNoUFUw aEIgS1M0OF luSStNVCBB dUlGUm9aU0 JqIGIyMXdZ VzU1SUcgbH pJR1JsWkds aiBZWFJsWk NCMGJ5IEJu YVhacGJtY2 cgWW1GamF5 QjBieSBCMG FHVWdZMjl0 IGJYVnVhWF I1SUcgRnVa Q0J6ZFhCdy BiM0owY3lC MllYIEpwYj NWeklHTm8g WVhKcGRHRm liRyBVZ1ky RjFjMlZ6IE lHRnVaQ0J2 Y20gZGhibW w2WVhScCBi MjV6TENCcG JtIE5zZFdS cGJtY2cgZE dobElFRnRa WCBKcFkyRn VJRkpsIFpD QkRjbTl6Y3 kgQmhibVFn Vlc1cCBkR1 ZrSUZkaGVT IDQ9CiAgIC AgICAgPC9z cGFuPgogIC AgICAgIAog ICAgICAgIA ==