Village Super Market

-9.72%

Live  

Village Super Market is an American supermarket chain headquartered in Springfield, New Jersey. The company was founded in 1937 and currently operates 30 ShopRite supermarkets in New Jersey, Pennsylvania, and Maryland. Village Super Market is a family-owned business and has been continuously operated by the Sumas family since its founding. The company is known for its focus on customer service and community involvement.

VmlsbGFnZS BTdXBlciBN YXJrZXQgaX MgYSBjb21w YW55IHRoYX Qgb3ducyBh IGdyb3VwIG 9mIGdyb2Nl cnkgc3Rvcm VzIHdoZXJl IHBlb3BsZS BjYW4gYnV5 IGZvb2QgYW 5kIG90aGVy IGV2ZXJ5ZG F5IGl0ZW1z LiBZb3UgbW lnaHQga25v dyBzb21lIG 9mIHRoZWly IHN0b3Jlcy BieSB0aGUg bmFtZSBTaG 9wUml0ZS4g PGJyPlRoZS Bjb21wYW55 IG1ha2VzIG 1vbmV5IGJ5 IHNlbGxpbm cgZ3JvY2Vy aWVzLCBzbm Fja3MsIGRy aW5rcywgYW 5kIHNvbWV0 aW1lcyBldm VuIGhvdXNl aG9sZCBpdG Vtcy4gV2hl biB5b3Ugb3 IgeW91ciBm YW1pbHkgZ2 8gc2hvcHBp bmcgYW5kIG J1eSBmb29k LCBhIHBhcn Qgb2YgdGhh dCBtb25leS Bnb2VzIHRv IFZpbGxhZ2 UgU3VwZXIg TWFya2V0Li BUaGUgbW9y ZSBwZW9wbG Ugc2hvcCB0 aGVyZSwgdG hlIG1vcmUg bW9uZXkgdG hleSBtYWtl ITxicj5WaW xsYWdlIFN1 cGVyIE1hcm tldCBoYXMg YmVlbiBzdW NjZXNzZnVs IGZvciBhIG ZldyByZWFz b25zLiBGaX JzdCwgdGhl eSBmb2N1cy BvbiBnaXZp bmcgY3VzdG 9tZXJzIHdo YXQgdGhleS B3YW50OiBm cmVzaCBmb2 9kLCBnb29k IHByaWNlcy wgYW5kIGZy aWVuZGx5IH NlcnZpY2Uu IFRoZXkgYW xzbyBsaXN0 ZW4gdG8gdG hlaXIgY3Vz dG9tZXJzIG FuZCB0cnkg dG8ga2VlcC B0aGUgc3Rv cmVzIHdlbG wtc3RvY2tl ZCB3aXRoIH BvcHVsYXIg aXRlbXMuPG JyPkluIHRo ZSBmdXR1cm UsIHRoZXkg Y2FuIGNvbn RpbnVlIGJl aW5nIHN1Y2 Nlc3NmdWwg YmVjYXVzZS B0aGV5IGFy ZSBhbHdheX MgbG9va2lu ZyBmb3Igd2 F5cyB0byBp bXByb3ZlLi BUaGV5IG1p Z2h0IGFkZC Btb3JlIGhl YWx0aHkgZm 9vZCBvcHRp b25zLCBvZm ZlciBvbmxp bmUgc2hvcH BpbmcsIG9y IGNyZWF0ZS BzcGVjaWFs IGRlYWxzIH RvIGF0dHJh Y3QgbW9yZS BjdXN0b21l cnMuIFNpbm NlIGV2ZXJ5 b25lIG5lZW RzIGZvb2Qg YW5kIGhvdX NlaG9sZCBz dXBwbGllcy wgcGVvcGxl IHdpbGwgYW x3YXlzIHZp c2l0IGdyb2 Nlcnkgc3Rv cmVzLCB3aG ljaCBoZWxw cyB0aGUgY2 9tcGFueSBz dGF5IHN0cm 9uZy48YnI+

MS4gRmFtaW x5IG93bmVk IGFuZCBvcG VyYXRlZDog VGhlIFZpbG xhZ2UgU3Vw ZXIgTWFya2 V0IGNvbXBh bnkgaXMgYS BmYW1pbHkt b3duZWQgYn VzaW5lc3Mg dGhhdCBoYX MgYmVlbiBv cGVyYXRpbm cgZm9yIG92 ZXIgODAgeW VhcnMuIFRo aXMgZ2l2ZX MgdGhlbSBh IHN0cm9uZy BzZW5zZSBv ZiBjb21tdW 5pdHkgYW5k IGNvbW1pdG 1lbnQgdG8g dGhlaXIgY3 VzdG9tZXJz Ljxicj4yLi BDb21tdW5p dHkgaW52b2 x2ZW1lbnQ6 IFRoZSBjb2 1wYW55IGlz IGRlZXBseS BpbnZvbHZl ZCBpbiB0aG UgY29tbXVu aXRpZXMgaW 4gd2hpY2gg aXQgb3Blcm F0ZXMuIEl0 IHN1cHBvcn RzIGxvY2Fs IGNoYXJpdG llcywgc2No b29scywgYW 5kIG9yZ2Fu aXphdGlvbn MgYW5kIGhh cyBhIHN0cm 9uZyBmb2N1 cyBvbiBnaX ZpbmcgYmFj ayB0byB0aG UgY29tbXVu aXR5Ljxicj 4zLiBTdHJv bmcgY3VzdG 9tZXIgZm9j dXM6IFRoZS Bjb21wYW55 IHByaWRlcy BpdHNlbGYg b24gcHJvdm lkaW5nIGV4 Y2VwdGlvbm FsIGN1c3Rv bWVyIHNlcn ZpY2UgYW5k IGJ1aWxkaW 5nIHN0cm9u ZyByZWxhdG lvbnNoaXBz IHdpdGggaX RzIGN1c3Rv bWVycy4gSX Qgb2ZmZXJz IHBlcnNvbm FsaXplZCBz ZXJ2aWNlcy BzdWNoIGFz IG9ubGluZS BzaG9wcGlu ZywgaG9tZS BkZWxpdmVy eSwgYW5kIG NhdGVyaW5n IHNlcnZpY2 VzIHRvIG1l ZXQgdGhlIG RpdmVyc2Ug bmVlZHMgb2 YgaXRzIGN1 c3RvbWVycy 48YnI+NC4g V2lkZSBwcm 9kdWN0IHNl bGVjdGlvbj ogVmlsbGFn ZSBTdXBlci BNYXJrZXQg b2ZmZXJzIG Egd2lkZSBz ZWxlY3Rpb2 4gb2YgaGln aC1xdWFsaX R5IHByb2R1 Y3RzLCBpbm NsdWRpbmcg bG9jYWxseS Bzb3VyY2Vk IGl0ZW1zLC Bvcmdhbmlj IGFuZCBuYX R1cmFsIHBy b2R1Y3RzLC BhbmQgaW50 ZXJuYXRpb2 5hbCBmb29k cy4gSXQgYW xzbyBoYXMg aXRzIG93bi Bwcml2YXRl IGxhYmVsIG JyYW5kLCBh bGxvd2luZy BjdXN0b21l cnMgdG8gZm luZCB1bmlx dWUgYW5kIG FmZm9yZGFi bGUgcHJvZH VjdHMuPGJy PjUuIEZvY3 VzIG9uIHN1 c3RhaW5hYm lsaXR5OiBU aGUgY29tcG FueSBpcyBj b21taXR0ZW QgdG8gcHJv bW90aW5nIH N1c3RhaW5h YmlsaXR5IG FuZCByZWR1 Y2luZyBpdH MgZW52aXJv bm1lbnRhbC BpbXBhY3Qu IEl0IGhhcy BpbXBsZW1l bnRlZCBudW 1lcm91cyBp bml0aWF0aX ZlcyB0byBy ZWR1Y2Ugd2 FzdGUsIHJl Y3ljbGUsIG FuZCB1c2Ug ZW5lcmd5LW VmZmljaWVu dCB0ZWNobm 9sb2dpZXMg aW4gaXRzIH N0b3Jlcy48 YnI+Ni4gRW 1wbG95ZWUg c2F0aXNmYW N0aW9uOiBW aWxsYWdlIF N1cGVyIE1h cmtldCB2YW x1ZXMgaXRz IGVtcGxveW VlcyBhbmQg aGFzIGJlZW 4gcmVjb2du aXplZCBhcy BhIHRvcCBl bXBsb3llci BpbiBtdWx0 aXBsZSBzdG F0ZXMuIFRo ZSBjb21wYW 55IG9mZmVy cyBjb21wZX RpdGl2ZSB3 YWdlcywgY2 9tcHJlaGVu c2l2ZSBiZW 5lZml0cywg YW5kIG9wcG 9ydHVuaXRp ZXMgZm9yIG NhcmVlciBh ZHZhbmNlbW VudCBhbmQg Z3Jvd3RoLj xicj43LiBH cm93dGggYW 5kIGV4cGFu c2lvbjogRG VzcGl0ZSBi ZWluZyBhIG ZhbWlseS1v d25lZCBidX NpbmVzcywg VmlsbGFnZS BTdXBlciBN YXJrZXQgaG FzIGdyb3du IHNpZ25pZm ljYW50bHkg b3ZlciB0aG UgeWVhcnMu IEl0IGN1cn JlbnRseSBv cGVyYXRlcy BvdmVyIDMw IHN1cGVybW Fya2V0cyBp biB0aHJlZS BkaWZmZXJl bnQgc3RhdG VzIGFuZCBj b250aW51ZX MgdG8gZXhw YW5kIGl0cy BwcmVzZW5j ZSBpbiB0aG UgbWFya2V0 Ljxicj44Li BFbWJyYWNp bmcgdGVjaG 5vbG9neTog VGhlIGNvbX BhbnkgaGFz IGVtYnJhY2 VkIHRlY2hu b2xvZ3kgdG 8gaW1wcm92 ZSB0aGUgc2 hvcHBpbmcg ZXhwZXJpZW 5jZSBmb3Ig aXRzIGN1c3 RvbWVycy4g SXQgb2ZmZX JzIHZhcmlv dXMgZGlnaX RhbCBzZXJ2 aWNlcywgc3 VjaCBhcyBv bmxpbmUgb3 JkZXJpbmcs IGN1cmJzaW RlIHBpY2t1 cCwgYW5kIG 1vYmlsZSBh cHBzIHRvIH NpbXBsaWZ5 IHRoZSBzaG 9wcGluZyBw cm9jZXNzLj xicj45LiBF bXBoYXNpcy BvbiBxdWFs aXR5OiBWaW xsYWdlIFN1 cGVyIE1hcm tldCBwcmlv cml0aXplcy BxdWFsaXR5 IGluIGFsbC Bhc3BlY3Rz IG9mIGl0cy BidXNpbmVz cy4gVGhpcy BpbmNsdWRl cyB0aGUgcH JvZHVjdHMg aXQgc2VsbH MsIHRoZSBz ZXJ2aWNlcy BpdCBvZmZl cnMsIGFuZC B0aGUgb3Zl cmFsbCBzaG 9wcGluZyBl eHBlcmllbm NlIGZvciBp dHMgY3VzdG 9tZXJzLjxi cj4xMC4gU3 Ryb25nIGZp bmFuY2lhbC BwZXJmb3Jt YW5jZTogVG hlIGNvbXBh bnkgaGFzIG NvbnNpc3Rl bnRseSBzaG 93biBzdHJv bmcgZmluYW 5jaWFsIHBl cmZvcm1hbm NlLCB3aXRo IGFubnVhbC ByZXZlbnVl cyBleGNlZW RpbmcgJDEg YmlsbGlvbi 4gVGhpcyBy ZWZsZWN0cy BpdHMgc3Vj Y2Vzc2Z1bC BidXNpbmVz cyBtb2RlbC BhbmQgc3Ry b25nIG1hbm FnZW1lbnQg cHJhY3RpY2 VzLg==

VGhlIFZpbG xhZ2UgU3Vw ZXIgTWFya2 V0IGNvbXBh bnkgb3Blcm F0ZXMgYXMg YSBjaGFpbi BvZiBzdXBl cm1hcmtldH MgYW5kIHNw ZWNpYWx0eS Bmb29kIHN0 b3JlcyBwcm ltYXJpbHkg aW4gdGhlIE 5vcnRoZWFz dGVybiBVbm l0ZWQgU3Rh dGVzLiBUaG UgY29tcGFu eeKAmXMgYn VzaW5lc3Mg bW9kZWwgaX MgYmFzZWQg b24gcHJvdm lkaW5nIGN1 c3RvbWVycy B3aXRoIGEg d2lkZSBzZW xlY3Rpb24g b2YgaGlnaC 1xdWFsaXR5 IGdyb2Nlcn kgcHJvZHVj dHMgYXQgY2 9tcGV0aXRp dmUgcHJpY2 VzLiBUaGV5 IGZvY3VzIG 9uIG1haW50 YWluaW5nIG NsZWFuLCB3 ZWxsLW9yZ2 FuaXplZCBz dG9yZXMgd2 l0aCBhIGZy aWVuZGx5IG FuZCBrbm93 bGVkZ2VhYm xlIHN0YWZm IHRvIHByb3 ZpZGUgYSBw bGVhc2FudC BzaG9wcGlu ZyBleHBlcm llbmNlIGZv ciB0aGVpci BjdXN0b21l cnMuPGJyPl ZpbGxhZ2Ug U3VwZXIgTW Fya2V0IG9w ZXJhdGVzIH VuZGVyIHZh cmlvdXMgbm FtZXMsIHN1 Y2ggYXMgU2 hvcFJpdGUs IFRoZSBGcm VzaCBHcm9j ZXIsIGFuZC BHb3VybWV0 IEdhcmFnZS wgY2F0ZXJp bmcgdG8gZG lmZmVyZW50 IHNlZ21lbn RzIG9mIHRo ZSBtYXJrZX QuIFRoZXkg YWxzbyBvZm ZlciBvbmxp bmUgb3JkZX JpbmcgYW5k IGRlbGl2ZX J5IHNlcnZp Y2VzIHRvIH Byb3ZpZGUg Y29udmVuaW VuY2UgdG8g dGhlaXIgY3 VzdG9tZXJz Ljxicj5Jbi BhZGRpdGlv biB0byB0aG VpciByZXRh aWwgb3Blcm F0aW9ucywg VmlsbGFnZS BTdXBlciBN YXJrZXQgYW xzbyBoYXMg YSBmb2N1cy BvbiBjb21t dW5pdHkgaW 52b2x2ZW1l bnQgYW5kIH N1cHBvcnRp bmcgbG9jYW wgb3JnYW5p emF0aW9ucy B0aHJvdWdo IGNoYXJpdG FibGUgZG9u YXRpb25zIG FuZCBwYXJ0 bmVyc2hpcH MuIFRoZXkg YWxzbyBwcm lvcml0aXpl IHN1c3RhaW 5hYmlsaXR5 LCBpbXBsZW 1lbnRpbmcg ZW52aXJvbm 1lbnRhbGx5 IGZyaWVuZG x5IHByYWN0 aWNlcyB0aH JvdWdob3V0 IHRoZWlyIG 9wZXJhdGlv bnMuPGJyPk 92ZXJhbGws IHRoZSBWaW xsYWdlIFN1 cGVyIE1hcm tldCBjb21w YW554oCZcy BidXNpbmVz cyBtb2RlbC BpcyBjZW50 ZXJlZCBhcm 91bmQgY3Vz dG9tZXIgc2 F0aXNmYWN0 aW9uLCBjb2 1wZXRpdGl2 ZSBwcmljaW 5nLCBhbmQg Y29tbXVuaX R5IGVuZ2Fn ZW1lbnQu

AI can indeed pose a material threat to the Village Super Market company’s products, services, or competitive positioning in several ways:
1. Substitution: AI technologies can lead to the development of alternative products that meet consumer needs more efficiently. For example, advancements in food technology could enable the creation of plant-based alternatives or lab-grown products that could substitute traditional grocery items. As consumer preferences shift toward healthier or more sustainable options, Village Super Market could find its offerings challenged by these innovative substitutes.
2. Disintermediation: With AI-driven platforms enhancing direct-to-consumer sales, traditional supermarket models may face challenges. Online grocery delivery services that use AI for inventory management, customer recommendations, and logistics could eliminate the need for physical grocery stores. Village Super Market could be at risk if consumers increasingly prefer the convenience of ordering groceries online with personalized shopping experiences optimized by AI technologies.
3. Margin Pressure: AI can improve operational efficiencies in logistics, supply chain management, and inventory control, which could lead to increased competition from retailers that utilize these technologies effectively, driving down prices. If competing retailers adopt AI at a faster pace, Village Super Market may face margin pressure as it struggles to maintain competitive pricing while trying to adopt similar technologies.
In summary, AI presents potential challenges in terms of substitution of products, disruption of traditional retail models through disintermediation, and margin pressures due to increased competition. The company must stay proactive in leveraging AI technologies to enhance its offerings and operations to mitigate these risks.

The sensitivity of Village Super Market’s earnings, cash flow, and valuation to changes in interest rates can be understood through a few key factors:
1. Interest Rate Impact on Financing Costs: If interest rates rise, the cost of borrowing increases. Village Super Market may have existing debt or require new financing for expansion or operations. Higher interest expenses could reduce net earnings and cash flow, as more cash would be allocated towards interest payments rather than reinvesting in the business or returning value to shareholders.
2. Consumer Spending Behavior: Interest rates influence consumer behavior. Higher rates can lead to reduced disposable income as consumers face higher costs of borrowing and slower spending, which may impact sales at Village Super Market. Conversely, lower rates could encourage spending, positively affecting sales and earnings.
3. Valuation Sensitivity: The valuation of any company, including Village Super Market, is often linked to discounting future cash flows to present value. When interest rates increase, the discount rate applied to future earnings and cash flows rises, leading to a lower present value of those cash flows. This can negatively affect the company’s stock price and market capitalization.
4. Dividend Policy: If interest rates rise significantly, the attractiveness of dividend-paying stocks may shift as investors seek higher yields from bonds or other fixed-income securities. This could lead to downward pressure on Village Super Market’s stock price if it does not adjust its dividend policy.
5. Overall Economic Environment: The broader economic environment, influenced by interest rates, affects consumer confidence and spending patterns. If higher rates lead to an economic slowdown, Village Super Market could see a decline in customer traffic and spending, further impacting earnings and cash flow.
In summary, Village Super Market’s earnings, cash flow, and valuation are sensitive to changes in interest rates through their impact on financing costs, consumer behavior, valuation models, and the overall economic climate. Monitoring interest rate trends and their potential effects on these areas is crucial for assessing the financial health of the company.

QSByZWFsaX N0aWMgc2Nl bmFyaW8gdG hhdCBjb3Vs ZCBwZXJtYW 5lbnRseSBp bXBhaXIgdG hlIGVjb25v bWljcyBvZi BWaWxsYWdl IFN1cGVyIE 1hcmtldCBv dmVyIHRoZS BuZXh0IDMt NSB5ZWFycy B3b3VsZCBi ZSBhIHNpZ2 5pZmljYW50 IGFuZCBwcm 9sb25nZWQg c2hpZnQgaW 4gY29uc3Vt ZXIgYmVoYX Zpb3IgdG93 YXJkcyBvbm xpbmUgZ3Jv Y2VyeSBzaG 9wcGluZyBj b21iaW5lZC B3aXRoIGVu aGFuY2VkIG NvbXBldGl0 aW9uIGZyb2 0gbWFqb3Ig ZS1jb21tZX JjZSByZXRh aWxlcnMuIE lmIGEgc3Vi c3RhbnRpYW wgcG9ydGlv biBvZiB0aG UgY29uc3Vt ZXIgYmFzZS BzaGlmdHMg dG8gb25saW 5lIGdyb2Nl cnkgc2Vydm ljZXMgcHJv dmlkZWQgYn kgbGFyZ2Vy IGNvbXBldG l0b3JzIHN1 Y2ggYXMgQW 1hem9uIGFu ZCBXYWxtYX J0LCBWaWxs YWdlIFN1cG VyIE1hcmtl dCBtYXkgc3 RydWdnbGUg dG8gbWFpbn RhaW4gaXRz IG1hcmtldC BzaGFyZS48 YnI+SW4gdG hpcyBzY2Vu YXJpbywgbW FyZ2lucyBj b3VsZCBiZS BhZHZlcnNl bHkgYWZmZW N0ZWQgZHVl IHRvIHNldm VyYWwgZmFj dG9ycy4gRm lyc3RseSwg aW5jcmVhc2 VkIGNvbXBl dGl0aW9uIH dvdWxkIGxp a2VseSBmb3 JjZSBWaWxs YWdlIFN1cG VyIE1hcmtl dCB0byBsb3 dlciBwcmlj ZXMgdG8gYX R0cmFjdCBj dXN0b21lcn MsIGxlYWRp bmcgdG8gcm VkdWNlZCBw cm9maXQgbW FyZ2lucy4g QWRkaXRpb2 5hbGx5LCB0 aGUgY29tcG FueSBtaWdo dCBuZWVkIH RvIGludmVz dCBoZWF2aW x5IGluIGl0 cyBvd24gZS 1jb21tZXJj ZSBjYXBhYm lsaXRpZXMg YW5kIHRlY2 hub2xvZ3kg aW5mcmFzdH J1Y3R1cmUg dG8gY29tcG V0ZSBlZmZl Y3RpdmVseS wgaW5jcmVh c2luZyBvcG VyYXRpbmcg ZXhwZW5zZX MuPGJyPkNh c2ggZmxvdy B3b3VsZCBs aWtlbHkgZG VjbGluZSBh cyB3ZWxsLi BEZWNyZWFz ZWQgcmV2ZW 51ZXMgZnJv bSB0cmFkaX Rpb25hbCBi cmljay1hbm QtbW9ydGFy IHNhbGVzLC Bjb21iaW5l ZCB3aXRoIH RoZSBhZGRl ZCBleHBlbm RpdHVyZSBm b3IgdGVjaG 5vbG9naWNh bCBpbXByb3 ZlbWVudHMg YW5kIGZ1bG ZpbGxtZW50 IHNlcnZpY2 VzLCBjb3Vs ZCBjcmVhdG Ugc3RyYWlu IG9uIGNhc2 ggZmxvdy4g SWYgdGhlIG NvbXBhbnkg Y2Fubm90IG VmZmVjdGl2 ZWx5IHBpdm 90IHRvIGFu IG9ubGluZS Btb2RlbCwg aXQgbWF5IG JlY29tZSBs ZXNzIGZpbm FuY2lhbGx5 IHZpYWJsZS wgbGVhZGlu ZyB0byBpbn N1ZmZpY2ll bnQgY2FzaC BhY2N1bXVs YXRpb24gZm 9yIHJlaW52 ZXN0bWVudC BvciB0byBj b3ZlciBvcG VyYXRpb25h bCBuZWVkcy 48YnI+VGhl IGJhbGFuY2 Ugc2hlZXQg d291bGQgYW xzbyBzaG93 IHNpZ25zIG 9mIHN0cmVz cy4gSWYgdG hlIGNvbXBh bnkgdGFrZX Mgb24gZGVi dCB0byBmdW 5kIG5lY2Vz c2FyeSB0cm Fuc2Zvcm1h dGlvbnMgb3 IgdG8gc3Rh YmlsaXplIG 9wZXJhdGlv bnMgZHVyaW 5nIGEgdHJh bnNpdGlvbi BwZXJpb2Qs IGl0cyBsaW FiaWxpdGll cyBjb3VsZC BpbmNyZWFz ZSBzaWduaW ZpY2FudGx5 LiBJZiByZX ZlbnVlIGRl Y2xpbmVzIG xlYWQgdG8g ZGVjcmVhc2 VkIGFzc2V0 IHZhbHVlcy wgc3VjaCBh cyBhIGRyb3 AgaW4gcmVh bCBlc3RhdG UgdmFsdWF0 aW9uIGZvci B0aGVpciBw aHlzaWNhbC BzdG9yZXMs IHRoZSBhc3 NldCBzaWRl IG9mIHRoZS BiYWxhbmNl IHNoZWV0IG NvdWxkIHBv dGVudGlhbG x5IHJlZmxl Y3QgYW4gaW 1iYWxhbmNl LCBmdXJ0aG VyIGNvbXBs aWNhdGluZy B0aGUgY29t cGFueeKAmX MgZmluYW5j aWFsIGhlYW x0aC48YnI+ T3ZlcmFsbC wgaW4gc3Vj aCBhIHNjZW 5hcmlvLCBW aWxsYWdlIF N1cGVyIE1h cmtldCBjb3 VsZCBmYWNl IGRlY2xpbm luZyBtYXJn aW5zLCBzdW JkdWVkIGNh c2ggZmxvd3 MsIGFuZCBh IHN0cmFpbm VkIGJhbGFu Y2Ugc2hlZX QsIG1ha2lu ZyByZWNvdm VyeSBhbmQg c3VzdGFpbm VkIGdyb3d0 aCBjaGFsbG VuZ2luZy48 YnI+

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 bG9nb3MvNX FhYTlEMWxE Znd6Nlk1NH hIZXgud2Vi cCIgYWx0PS JWaWxsYWdl IFN1cGVyIE 1hcmtldCIg dGl0bGU9Il ZpbGxhZ2Ug U3VwZXIgTW Fya2V0IiAg Y2xhc3M9Im ltZy1mbHVp ZCIgaGVpZ2 h0PTUwIHdp ZHRoPTUwIG xvYWRpbmc9 J2xhenknIH N0eWxlPSdi b3JkZXItcm FkaXVzOiA2 cHg7Jz4KCi AgICAgICAg ICAgICAgIC AgICAgPGRp diBzdHlsZT 0nZmxleDog MTsgdGV4dC 1hbGlnbjog Y2VudGVyOy BtYXJnaW4t bGVmdDogNX B4Oyc+CiAg ICAgICAgIC AgICAgICAg ICAgICAgID xwIHN0eWxl PSdmb250LX NpemU6IDI2 cHg7IGNvbG 9yOiAjMzMz OyBtYXJnaW 4tYm90dG9t OiAxNXB4Oy c+CiAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIC Dwn5OIIFdh bnQgdG8gcm VhZCBtb3Jl IGFib3V0IF ZpbGxhZ2Ug U3VwZXIgTW Fya2V0Pwog 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 bWxzYkcgRm 5aU0JUZFhC bCBjaUJOWV hKclpYIFFn ZDJGeklHWn YgZFc1a1pX UWdhVyA0Z0 1Ua3pOeUJp IGVTQk9hV0 5vYjIgeGhj eUJoYm1RZy BVR1Z5Y25r Z1UzIFZ0WV hNc0lIUjMg YnlCaWNtOT BhRyBWeWN5 QjNhRzhnIG FXMXRhV2R5 WVggUmxaQ0 IwYnlCMCBh R1VnVlc1cG RHIFZrSUZO MFlYUmwgY3 lCbWNtOXRJ RSBkeVpXVm paUzQ4IFlu SStNaTRnVk cgaGxJR052 YlhCaCBibm 5pZ0pseklH IFpwY25OME lITjAgYjNK bElIZGhjeS BCaElITnRZ V3hzIElHZH liMk5sY24g a2djM1J2Y2 1VZyBhVzRn VTNCeWFXID VuWm1sbGJH UXMgSUU1bG R5QktaWCBK elpYa3NJSG RvIGFXTm9J SGRoY3kgQm pZV3hzWldR ZyBkR2hsSU 9LQW5GIE4x YldGeklFSn kgYjNSb1pY SnpJRSAxaG NtdGxkQzdp IGdKMDhZbk krTXkgNGdW R2hsSUdOdi BiWEJoYm5u aWdKIGx6SU dOMWNuSmwg Ym5RZ1EwVl BJRyBseklF NXBZMmh2IG JHRno0b0Na Y3kgQnpiMj RzSUVwaCBi V1Z6SUZOMW JXIEZ6TENC M2FHOGcgYU dGeklHSmxa VyA0Z2QybD BhQ0IwIGFH VWdZMjl0Y0 cgRnVlU0Jt YjNJZyBiM1 psY2lBME1D IEI1WldGeW N5NDggWW5J K05DNGdWbS Bsc2JHRm5a U0JUIGRYQm xjaUJOWVgg SnJaWFFnYV hNZyBZU0J3 ZFdKc2FXIE 5zZVNCMGNt RmsgWldRZ1 kyOXRjRyBG dWVTd2dkMm wwIGFDQnBk SE1nYzMgUn ZZMnNnWW1W cCBibWNnYk dsemRHIFZr SUc5dUlIUm 8gWlNCT1FW TkVRViBFZ2 MzUnZZMnNn IFpYaGphR0 Z1WjIgVWdk VzVrWlhJZy BkR2hsSUhO NWJXIEp2Yk NCV1RFZEYg UVM0OFluSS tOUyA0Z1FY TWdiMllnIE 1qQXlNU3dn Vm0gbHNiR0 ZuWlNCVCBk WEJsY2lCTl lYIEpyWlhR Z2FHRnogSU c5MlpYSWdN eiBBZ2MzUn ZjbVZ6IElH RmpjbTl6Y3 kgQk9aWGNn U21WeSBjMl Y1TENCUVpX IDV1YzNsc2 RtRnUgYVdF c0lHRnVaQy BCTllYSjVi R0Z1IFpDd2 dkVzVrWlgg SWdkR2hsSU dKaCBibTVs Y25NZ1UyIG h2Y0ZKcGRH VXMgSUVaeV pYTm9JRSBk eWIyTmxjaX dnIFlXNWtJ RWR2ZFggSn RaWFFnUjJG eSBZV2RsTG p4aWNqIDQy TGlCVWFHVW cgWTI5dGNH RnVlUyBCcG N5QnJibTkz IGJpQm1iM0 lnYVggUnpJ SE4wY205dS BaeUJqYjIx dGFYIFJ0Wl c1MElIUnYg SUdOdmJXMT FibSBsMGVT QnBiblp2IG JIWmxiV1Z1 ZEMgQmhibV FnYUdGeiBJ R1J2Ym1GMF pXIFFnYjNa bGNpQWsgTV NCdGFXeHNh VyA5dUlHRn ViblZoIGJH eDVJSFJ2SU cgeHZZMkZz SUdObyBZWE pwZEdsbGN5 IEJoYm1RZ2 IzSm4gWVc1 cGVtRjBhVy A5dWN5NDhZ bkkrIE55NG dTVzRnTWog QXhOeXdnVm 1scyBiR0Zu WlNCVGRYIE JsY2lCTllY SnIgWlhRZ1 lXTnhkVyBs eVpXUWdkR2 hsIElIQnZj SFZzWVggSW diMjVzYVc1 bCBJR2R5Yj JObGNuIGtn WkdWc2FYWm wgY25rZ2My VnlkbSBsal pTd2dVMmh2 IGNGSnBkR1 VnWm4gSnZi U0JJYjIxbC BMQ0IzYUds amFDIEJoYk d4dmQzTWcg WTNWemRHOX RaWCBKeklI UnZJRzl5IF pHVnlJR2R5 YjIgTmxjbW xsY3lCdiBi bXhwYm1VZ1 lXIDVrSUdo aGRtVWcgZE dobGJTQmta VyB4cGRtVn laV1FnIGRH OGdkR2hsYV ggSWdaRzl2 Y25OMCBaWE F1UEdKeVBq IGd1SUZSb1 pTQmogYjIx d1lXNTVJRy BseklHRnNj MjhnIGEyNX ZkMjRnWm0g OXlJR2wwY3 lCbCBiWEJz YjNsbFpTID FtY21sbGJt UnMgZVNCd2 IyeHBZMiBs bGN5d2dhVz VqIGJIVmth VzVuSUggQn liMlpwZEMx eiBhR0Z5YV c1bkxDIEJq YjIxd1lXNT UgTFdaMWJt UmxaQyBCeV pYUnBjbVZ0 IFpXNTBJSE JzWVcgNXpM Q0JoYm1RZy BjMk5vYjJ4 aGNuIE5vYV hCeklHWnYg Y2lCbGJYQn NiMyBsbFpY TWdZVzVrIE lIUm9aV2x5 SUcgUmxjR1 Z1WkdWdSBk SE11UEdKeV BqIGt1SUZa cGJHeGggWj JVZ1UzVnda WCBJZ1RXRn lhMlYwIElH aGhjeUJpWl cgVnVJSEps WTI5biBibW w2WldRZ1pt IDl5SUdsMG N5QmogYjIx dGFYUnRaVy A1MElIUnZJ SE4xIGMzUm hhVzVoWW0g bHNhWFI1SU dGdSBaQ0Iz WVhNZ2JtIE Z0WldRZ2Iy NWwgSUc5bU lIUm9aUyBE aWdKeEhjbV ZsIGJtVnpk Q0JUZFggQm xjbTFoY210 bCBkSE1nYV c0Z1FXIDFs Y21salllS0 EgblNCaWVT QkhjbSBWbG JuQmxZV05s IElHbHVJRE l3TVQga3VQ R0p5UGpFdy BMaUJVYUdV Z1kyIDl0Y0 dGdWVTQm8g WVhNZ2QyOX VJSCBObGRt VnlZV3dnIF lYZGhjbVJ6 SUcgbHVJSF JvWlNCeiBk WEJsY20xaG NtIHRsZENC cGJtUjEgYz NSeWVTd2dh VyA1amJIVm thVzVuIElI Um9aU0RpZ0 ogeFBkWFJ6 ZEdGdSBaR2 x1WnlCU1pY IFJoYVd4bG NpQnYgWmlC MGFHVWdXVy BWaGN1S0Fu U0JoIGQyRn laQ0JtY20g OXRJRkJ5Yj JkeSBaWE56 YVhabElFIG R5YjJObGNp QnAgYmlBeU 1ERXdJRyBG dVpDQjBhR1 VnIDRvQ2NS MjlzWkMgQl FiR0YwWlNC QiBkMkZ5Wk 9LQW5TIEJt Y205dElIUm 8gWlNCSmJu UmxjbSA1aG RHbHZibUZz IElFTnZkVz VqYVcgd2di MllnVTJodi BjSEJwYm1j Z1EyIFZ1ZE dWeWN5QnAg YmlBeU1ERT BMZyA9PQog ICAgICAgID wvc3Bhbj4K ICAgICAgIC AKICAgICAg ICA=