Deere

Live  

John Deere is an American corporation that manufactures agricultural, construction, and forestry machinery, diesel engines, drivetrains (axles, transmissions, gearboxes) used in heavy equipment, and lawn care equipment. The company was founded in 1837 by John Deere, and its headquarters are located in Moline, Illinois.
Today, the Deere company has a global presence, with manufacturing facilities, offices, and dealerships in over 30 countries. It is also one of the largest manufacturers of agricultural equipment in the world, with a product line that includes tractors, combines, balers, and planters.
In addition to its core agriculture business, Deere also produces equipment for the construction, forestry, and turf care industries. Its construction equipment lineup includes excavators, loaders, and motor graders, while its forestry machinery includes skidders, feller bunchers, and harvesters. For the turf care market, Deere offers a range of mowers, utility vehicles, and snow blowers.
The company also has a long history of innovation, with a number of firsts in the industry, such as the first self-scouring steel plow, the first tractor with a three-point hitch, and the first hydrostatic transmission. It continues to invest in research and development to create cutting-edge equipment for its customers.
In addition to its products, Deere is also known for its strong dealer network, providing customers with local sales and service support. The company also offers financial services, including equipment financing and leasing, to help customers purchase or lease equipment.
Overall, John Deere is a major player in the agriculture and construction industries, with a commitment to quality, innovation, and customer satisfaction.

Deere & Company, often called John Deere, is a big company that makes machines used in farming, construction, and other outdoor activities. You know those big green tractors you see in fields? Those are made by John Deere! They help farmers grow crops by plowing the land, planting seeds, and harvesting the food we eat.
The way John Deere makes money is by selling these machines and equipment to farmers, construction workers, and even some places that need to take care of parks. They also sell parts for their machines and provide services to keep everything running smoothly.
John Deere is successful for a few reasons. First, they have a long history, which means they’ve been around for a long time and have learned what their customers need. They also make really good products that are known for being tough and lasting a long time. Many people trust John Deere because they see it as a brand that stands for quality.
Looking into the future, John Deere will likely continue to be successful because they are always trying to improve their machines with new technology. For example, they’re using computers and robots to make farming easier and more efficient. With more people in the world needing food and better buildings, the demand for their products will stay high. So, as long as people need food, farms, and construction, John Deere will be there to help with their awesome machines!

MS4gTG9uZy BIaXN0b3J5 IGFuZCBCcm FuZCBSZXB1 dGF0aW9uOi BUaGUgSm9o biBEZWVyZS Bjb21wYW55 IHdhcyBlc3 RhYmxpc2hl ZCBpbiAxOD M3LCBtYWtp bmcgaXQgb2 5lIG9mIHRo ZSBvbGRlc3 QgYW5kIG1v c3QgZXN0YW JsaXNoZWQg Y29tcGFuaW VzIGluIHRo ZSBhZ3JpY3 VsdHVyYWwg YW5kIGNvbn N0cnVjdGlv biBlcXVpcG 1lbnQgaW5k dXN0cnkuIF RoaXMgbG9u ZyBoaXN0b3 J5IGhhcyBz b2xpZGlmaW VkIGl0cyBi cmFuZCByZX B1dGF0aW9u IGFuZCBtYW RlIGl0IGEg Z2xvYmFsbH kgcmVjb2du aXplZCBhbm QgdHJ1c3Rl ZCBicmFuZC 48YnI+Mi4g RGl2ZXJzZS BQcm9kdWN0 IFBvcnRmb2 xpbzogRGVl cmUgJiBDb2 1wYW55IG9m ZmVycyBhIH dpZGUgcmFu Z2Ugb2YgcH JvZHVjdHMg YW5kIHNlcn ZpY2VzIGlu IHRoZSBhZ3 JpY3VsdHVy ZSwgY29uc3 RydWN0aW9u LCBmb3Jlc3 RyeSwgYW5k IHR1cmYgY2 FyZSBpbmR1 c3RyaWVzLi BUaGlzIGRp dmVyc2l0eS BhbGxvd3Mg dGhlIGNvbX BhbnkgdG8g Y2F0ZXIgdG 8gYSBicm9h ZCBjdXN0b2 1lciBiYXNl IGFuZCBwcm 92aWRlcyBh IHN0YWJsZS ByZXZlbnVl IHN0cmVhbS 48YnI+My4g VGVjaG5vbG 9naWNhbCBJ bm5vdmF0aW 9uOiBKb2hu IERlZXJlIG hhcyBhIHN0 cm9uZyBmb2 N1cyBvbiBy ZXNlYXJjaC BhbmQgZGV2 ZWxvcG1lbn QsIGNvbnN0 YW50bHkgaW 52ZXN0aW5n IGluIGFkdm FuY2VkIHRl Y2hub2xvZ3 kgdG8gaW1w cm92ZSBpdH MgcHJvZHVj dHMgYW5kIH NlcnZpY2Vz LiBUaGUgY2 9tcGFueSBo YXMgYmVlbi BhIHBpb25l ZXIgaW4gaW 50cm9kdWNp bmcgbmV3IH RlY2hub2xv Z3ksIHN1Y2 ggYXMgc2Vs Zi1kcml2aW 5nIHRyYWN0 b3JzIGFuZC BwcmVjaXNp b24gYWdyaW N1bHR1cmUs IHdoaWNoIG hhcyBoZWxw ZWQgaW1wcm 92ZSBlZmZp Y2llbmN5IG FuZCBwcm9k dWN0aXZpdH kgZm9yIGZh cm1lcnMgYW 5kIGNvbnN0 cnVjdGlvbi B3b3JrZXJz Ljxicj40Li BTdHJvbmcg RGVhbGVyIE 5ldHdvcms6 IERlZXJlIC YgQ29tcGFu eSBoYXMgYS B2YXN0IG5l dHdvcmsgb2 YgYXV0aG9y aXplZCBkZW FsZXJzIGlu IG92ZXIgMT YwIGNvdW50 cmllcywgbW FraW5nIGl0 IGVhc2lseS BhY2Nlc3Np YmxlIGZvci BjdXN0b21l cnMgd29ybG R3aWRlLiBJ dHMgc3Ryb2 5nIGRlYWxl ciBuZXR3b3 JrIGVuc3Vy ZXMgdGltZW x5IGRlbGl2 ZXJ5IG9mIH Byb2R1Y3Rz IGFuZCBwcm 92aWRlcyBh ZnRlci1zYW xlcyBzdXBw b3J0IGFuZC BzZXJ2aWNl cy48YnI+NS 4gQ29tbWl0 bWVudCB0by BTdXN0YWlu YWJpbGl0eT ogRGVlcmUg JiBDb21wYW 55IGlzIGNv bW1pdHRlZC B0byBzdXN0 YWluYWJsZS BwcmFjdGlj ZXMsIGFuZC BpdCBjb25z dGFudGx5IH dvcmtzIHRv d2FyZHMgcm VkdWNpbmcg aXRzIGVudm lyb25tZW50 YWwgaW1wYW N0LiBUaGUg Y29tcGFueS BoYXMgc2V0 IGFtYml0aW 91cyBnb2Fs cyB0byByZW R1Y2UgZ3Jl ZW5ob3VzZS BnYXMgZW1p c3Npb25zIG FuZCBpbXBy b3ZlIGVuZX JneSBlZmZp Y2llbmN5IG luIGl0cyBv cGVyYXRpb2 5zLjxicj42 LiBFbXBsb3 llZS1Gb2N1 c2VkOiBUaG UgRGVlcmUg Y29tcGFueS BiZWxpZXZl cyBpbiBpbn Zlc3Rpbmcg aW4gaXRzIG VtcGxveWVl cyBhbmQgaG FzIGEgc3Ry b25nIGZvY3 VzIG9uIGVt cGxveWVlIG RldmVsb3Bt ZW50IGFuZC B3ZWxsLWJl aW5nLiBJdC BvZmZlcnMg dmFyaW91cy Bwcm9ncmFt cyBhbmQgaW 5pdGlhdGl2 ZXMgdG8gcH JvbW90ZSBh IGhlYWx0aH kgd29yay1s aWZlIGJhbG FuY2UgYW5k IHJlY29nbm l6ZSBhbmQg cmV3YXJkIG VtcGxveWVl IGNvbnRyaW J1dGlvbnMu PGJyPjcuIF BoaWxhbnRo cm9weSBhbm QgQ29tbXVu aXR5IEludm 9sdmVtZW50 OiBEZWVyZS AmIENvbXBh bnkgaGFzIG EgbG9uZy1z dGFuZGluZy B0cmFkaXRp b24gb2YgZ2 l2aW5nIGJh Y2sgdG8gdG hlIGNvbW11 bml0eS4gVG hlIGNvbXBh bnkgc3VwcG 9ydHMgdmFy aW91cyBjaG FyaXRhYmxl IG9yZ2FuaX phdGlvbnMg YW5kIGNvbW 11bml0eSBk ZXZlbG9wbW VudCBwcm9q ZWN0cyB0aH JvdWdoIGl0 cyBwaGlsYW 50aHJvcGlj IGFybSwgdG hlIEpvaG4g RGVlcmUgRm 91bmRhdGlv bi48YnI+OC 4gU3Ryb25n IEZpbmFuY2 lhbCBQZXJm b3JtYW5jZT ogRGVzcGl0 ZSBiZWluZy BpbiBhIGN5 Y2xpY2FsIG luZHVzdHJ5 LCBEZWVyZS AmIENvbXBh bnkgaGFzIG 1haW50YWlu ZWQgYSBzdH JvbmcgZmlu YW5jaWFsIH BlcmZvcm1h bmNlIGFuZC BoYXMgY29u c2lzdGVudG x5IGdlbmVy YXRlZCBwcm 9maXRzIGZv ciBpdHMgc2 hhcmVob2xk ZXJzLiBUaG UgY29tcGFu eSdzIGZpbm FuY2lhbCBz dGFiaWxpdH kgYW5kIGdy b3d0aCBtYW tlIGl0IGEg cmVsaWFibG UgYW5kIGF0 dHJhY3Rpdm UgY2hvaWNl IGZvciBpbn Zlc3RvcnMu

VGhlIERlZX JlIGNvbXBh bnkncyBidX NpbmVzcyBt b2RlbCBpcy Bmb2N1c2Vk IG9uIHRoZS BtYW51ZmFj dHVyaW5nIG FuZCBzZWxs aW5nIG9mIG FncmljdWx0 dXJhbCwgY2 9uc3RydWN0 aW9uLCBhbm QgZm9yZXN0 cnkgZXF1aX BtZW50LiBU aGlzIGluY2 x1ZGVzIHBy b2R1Y3RzIH N1Y2ggYXMg dHJhY3Rvcn MsIGNvbWJp bmVzLCBzcH JheWVycywg ZXhjYXZhdG 9ycywgYW5k IHNraWQtc3 RlZXIgbG9h ZGVycy4gVG hlIGNvbXBh bnkgYWxzby Bwcm92aWRl cyByZWxhdG VkIHNlcnZp Y2VzIHN1Y2 ggYXMgZmlu YW5jaW5nIG FuZCB0ZWNo bm9sb2d5IH NvbHV0aW9u cy4gVGhlaX IgdGFyZ2V0 IGN1c3RvbW VycyBhcmUg cHJpbWFyaW x5IGZhcm1l cnMsIGNvbn RyYWN0b3Jz LCBhbmQgYW dyaWN1bHR1 cmFsIGFuZC Bjb25zdHJ1 Y3Rpb24gcH JvZmVzc2lv bmFscy4gRG VlcmUncyBi dXNpbmVzcy Btb2RlbCBh bHNvIGluY2 x1ZGVzIGEg Zm9jdXMgb2 4gaW5ub3Zh dGlvbiBhbm Qgc3VzdGFp bmFiaWxpdH ksIHdpdGgg YSBjb21taX RtZW50IHRv IGRldmVsb3 BpbmcgdGVj aG5vbG9naW NhbGx5IGFk dmFuY2VkIG FuZCBlbnZp cm9ubWVudG FsbHkgZnJp ZW5kbHkgZX F1aXBtZW50 LiBBZGRpdG lvbmFsbHks IHRoZSBjb2 1wYW55IGhh cyBhIGdsb2 JhbCByZWFj aCwgd2l0aC BvcGVyYXRp b25zIGluIE 5vcnRoIEFt ZXJpY2EsIF NvdXRoIEFt ZXJpY2EsIE V1cm9wZSwg QXNpYSwgYW 5kIEFmcmlj YS4=

AI does have the potential to pose certain risks to Deere & Company’s products, services, and competitive positioning, but it also offers opportunities for innovation and improvement.
1. Substitution: AI can lead to the development of alternative technologies and solutions that may compete with traditional agricultural machinery. For example, advancements in autonomous vehicles or robotic farming technologies could substitute for some of Deere’s equipment. Startups and tech companies may develop innovative solutions that could challenge Deere’s market share in specific areas.
2. Disintermediation: The rise of AI-driven platforms could disrupt traditional distribution channels. For instance, farmers might turn to direct-to-consumer sales models facilitated by AI, reducing their dependence on conventional equipment dealers. Additionally, AI in precision agriculture could empower farmers to make decisions without needing extensive guidance from equipment providers, potentially diminishing the role of companies like Deere.
3. Margin Pressure: The integration of AI into the agricultural sector can lead to increased competition, especially as more companies adopt smart farming technologies. As a result, Deere could face margin pressures if they need to lower prices to remain competitive. AI-driven efficiencies might enable newer entrants to offer similar or superior products at lower costs, putting pressure on Deere’s pricing strategies.
In conclusion, while AI presents certain threats to Deere’s traditional business model regarding substitution, disintermediation, and margin pressure, it also opens avenues for Deere to innovate and enhance its offerings through smart technology integration. The company’s ability to adapt to these changes will be crucial in maintaining its competitive edge.

Deere & Company, like many other companies, can experience significant sensitivity in their earnings, cash flow, and valuation to changes in interest rates due to several factors:
1. Cost of Borrowing: Higher interest rates increase the cost of borrowing for both the company and its customers. If Deere’s financing costs rise, it could squeeze margins if the company cannot pass these costs onto customers. This may negatively impact earnings and cash flow.
2. Consumer and Business Spending: Changes in interest rates can influence consumer and business behavior. Higher rates may lead to reduced spending on capital equipment, which can significantly affect Deere’s sales. A decline in demand could result in lower revenues and cash flow, ultimately impacting earnings.
3. Discount Rate and Valuation: In valuation models, future cash flows are discounted back to present value using an interest rate. As interest rates rise, the discount rate increases, reducing the present value of future cash flows. This can lead to a decrease in the company’s overall valuation, making it less attractive to investors.
4. Lease Financing: Deere provides financing solutions for customers buying its equipment. An increase in interest rates may lead to higher lease rates, potentially making it less attractive for customers to finance purchases through Deere’s credit facilities. This could result in lower financing income and affect cash flow.
5. Economic Impact: Rising interest rates can influence broader economic conditions, potentially leading to slower economic growth. This has a direct impact on industries that require agricultural and construction equipment, affecting demand for Deere’s products.
6. International Markets: If Deere operates in various global markets, changes in interest rates can also influence foreign exchange rates. A stronger dollar due to higher U.S. interest rates may make Deere’s products more expensive for international customers, further impacting sales.
Overall, while Deere has mechanisms to manage some financial risks associated with interest rate fluctuations, the company’s earnings, cash flow, and valuation remain sensitive to changes in interest rates due to their impact on borrowing costs, customer demand, and valuation models.

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 bG9nb3MvbG x3eWw3NnJL TDkzRHFYd1 hzVE0ud2Vi cCIgYWx0PS JEZWVyZSIg dGl0bGU9Ik RlZXJlIiAg Y2xhc3M9Im ltZy1mbHVp ZCIgaGVpZ2 h0PTkwIHdp ZHRoPTkwIG 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 IGFib3V0IE RlZXJlPwog 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 +GkyBEaXNj b3ZlciA8aT 4iVGhlIENo ZWNrbGlzdC BWYWx1ZSBJ bnZlc3Rvci DigJQgQSBT bWFydGVyIF dheSB0byBQ aWNrIFN0b2 NrcyI8L2k+ IOKAlCBmcm VlIGVCb29r IQogICAgIC AgICAgICAg ICAgICAgIC AgICA8L3A+ CgogICAgIC AgICAgICAg ICAgICAgIC AgICA8IS0t CiAgICAgIC AgICAgICAg ICAgICAgIC AgIDxkaXYg c3R5bGU9J2 1hcmdpbi10 b3A6IDEycH g7IGZvbnQt c2l6ZTogMT NweDsgY29s b3I6ICM0ND Q7Jz4KICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgIFNpZ24g dXAgbm93IG FuZCBnZXQg b3VyIGZyZW UgZUJvb2sg CiAgICAgIC AgICAgICAg ICAgICAgIC AgICAgICA8 Yj5UaGUgQ2 hlY2tsaXN0 IFZhbHVlIE ludmVzdG9y IOKAlCBBIF NtYXJ0ZXIg V2F5IHRvIF BpY2sgU3Rv Y2tzPC9iPg ogICAgICAg ICAgICAgIC AgICAgICAg ICA8L2Rpdj 4KICAgICAg ICAgICAgIC AgICAgICAg ICAgLS0+Ci AgICAgICAg ICAgICAgIC AgICAgICAg IDwhLS0KIC AgICAgICAg ICAgICAgIC AgICAgICAg PGRpdiBzdH lsZT0nbWFy Z2luLXRvcD ogMTZweDsg Zm9udC1zaX plOiAxNHB4 OyBjb2xvcj ogIzQ0NDsg Zm9udC1mYW 1pbHk6IC1h cHBsZS1zeX N0ZW0sIEJs aW5rTWFjU3 lzdGVtRm9u dCwgU2Vnb2 UgVUksIFJv Ym90bywgSG VsdmV0aWNh IE5ldWUsIH NhbnMtc2Vy aWY7IGxpbm UtaGVpZ2h0 OiAxLjY7Jz 4KICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIE hhdmUgeW91 IGhlYXJkIG Fib3V0IG91 ciBzaG9ydC A8c3Ryb25n IHN0eWxlPS dmb250LXdl aWdodDogNj AwOyc+RGFp bHkgVmlkZW 8gTmV3c2xl dHRlcjwvc3 Ryb25nPj8K ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgIDxh IGhyZWY9J2 h0dHBzOi8v d3d3Lmluc2 lnaHRmdWx2 YWx1ZS5jb2 0vbmV3c2xl dHRlci5waH AnIHRhcmdl dD0nX2JsYW 5rJyBzdHls ZT0nY29sb3 I6ICMwMDdC RkY7IHRleH QtZGVjb3Jh dGlvbjogbm 9uZTsgZm9u dC13ZWlnaH Q6IDUwMDsg bWFyZ2luLW xlZnQ6IDZw eDsnPgogIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIE ZpbmQgb3V0 IG1vcmUKIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgIDwvYT 4KICAgICAg ICAgICAgIC AgICAgICAg ICAgPC9kaX Y+CiAgICAg ICAgICAgIC AgICAgICAg ICAgIC0tPg ogICAgICAg ICAgICAgIC AgICAgIDwv ZGl2PgogIC AgICAgICAg ICAgICAgPC 9kaXY+CiAg ICAgICAgIC AgIDwvZGl2 PgogICAgIC AgICAgICAK ICAgICAgIC AKICAgICAg ICA8c3Bhbi BjbGFzcz0n Ymx1cnJlZC 10ZXh0Jz4K ICAgICAgIC AgICAgTVM0 Z1ZHaGxJRS BSbFpYSmxJ RU52IGJYQm hibmtnZDIg RnpJR1p2ZF c1ayBaV1Fn YVc0Z01UIG d6TnlCaWVT QksgYjJodU lFUmxaWCBK bExDQmhJR0 pzIFlXTnJj MjFwZEcgZ2 dabkp2YlNC VyBaWEp0Yj I1MExpIEE4 WW5JK01pNG cgU205b2Jp QkVaVyBWeV pTQnBiblps IGJuUmxaQ0 IwYUcgVWda bWx5YzNRZy BjM1JsWld3 Z2NHIHh2ZH l3Z2QyaHAg WTJnZ2NtVj JiMiB4MWRH bHZibWw2IF pXUWdabUZ5 YlcgbHVaeU JpZVNCaCBi R3h2ZDJsdV p5IEJtWVhK dFpYSnogSU hSdklHMXZj bSBVZ1pXRn phV3g1IElI UnBiR3dnZE cgOTFaMmdn VFdsayBkMl Z6ZEdWeWJp IEJ6YjJsc0 xqeGkgY2o0 ekxpQlVhRy BVZ1kyeGhj M05wIFl5Qk tiMmh1SUUg UmxaWEpsSU dkeSBaV1Z1 SUdGdVpDIE I1Wld4c2Iz Y2cgWTI5c2 IzSWdjMiBO b1pXMWxJSG RoIGN5QnZj bWxuYVcgNW hiR3g1SUdO byBiM05sYm lCaVpXIE5o ZFhObElHbD AgSUhkaGN5 QndjbSBGam RHbGpZV3dn IFlXNWtJSF pwYzIgbGli R1VnYVc0Zy BkR2hsSUda cFpXIHhrTG p4aWNqNDAg TGlCVWFHVW dZMiA5dGNH RnVlZUtBIG 1YTWdjMnh2 WjIgRnVMQ0 JPYjNSbyBh VzVuSUZKMW JuIE1nVEds clpTQmggSU VSbFpYSmxM QyBCM1lYTW dabWx5IGMz UWdkWE5sWk MgQnBiaUJo YmlCaCBaSF psY25ScGMy IFZ0Wlc1ME lHbHUgSURF NU5qSXVQRy BKeVBqVXVJ RVJsIFpYSm xJQ1lnUTIg OXRjR0Z1ZV NCMyBZWE1n ZEdobElHIF pwY25OMElF RnQgWlhKcF kyRnVJRyBO dmJYQmhibm tnIGRHOGdi MkowWVcgbH VJR0VnY21W biBhWE4wWl hKbFpDIEIw Y21Ga1pXMW ggY21zc0lI ZG9hVyBOb0 lHbHpJSFJv IFpTQnNaV0 Z3YVcgNW5J R1JsWlhJZy BiRzluYnlC MWMyIFZrSU hSdklIUm8g YVhNZ1pHRj VMaiB4aWNq NDJMaUJVIG FHVWdZMjl0 Y0cgRnVlU0 JvWVhNZyBZ U0JzYjI1bk lHIGhwYzNS dmNua2cgYj JZZ2FXNXVi MyBaaGRHbH ZiaXdnIGQy bDBhQ0JwZE ggTWdabWx5 YzNRZyBkSE poWTNSdmNp IEJ3Y205a2 RXTmwgWkNC cGJpQXhPVC BFNElHRnVa Q0JwIGRITW dabWx5YzMg UWdZMjl0WW 1sdSBaU0Jv WVhKMlpYIE 4wWlhJZ2FX NGcgTVRreU 55NDhZbiBJ K055NGdSR1 ZsIGNtVWdK aUJEYjIgMX dZVzU1SUdo aCBjeUJ2Y0 dWeVlYIFJw YjI1eklHbH UgSUc5MlpY SWdNeiBVZ1 kyOTFiblJ5 IGFXVnpJR0 Z1WkMgQmxi WEJzYjNsei BJR0Z3Y0hK dmVHIGx0WV hSbGJIa2cg Tmpjc01EQX dJSCBCbGIz QnNaU0IzIG IzSnNaSGRw WkcgVXVQR0 p5UGpndSBJ RlJvWlNCam IyIDF3WVc1 NUlHaGggY3 lCaElITjBj bSA5dVp5Qm piMjF0IGFY UnRaVzUwSU ggUnZJSE4x YzNSaCBhVz VoWW1sc2FY IFI1SUdGdV pDQm8gWVhN Z1pHVjJaVy B4dmNHVmtJ R0VnIGMzVn pkR0ZwYm0g RmlhV3hwZE hrZyBjM1J5 WVhSbFozIG tnZEc4Z2Nt VmsgZFdObE lHbDBjeSBC bGJuWnBjbT l1IGJXVnVk R0ZzSUcgbH RjR0ZqZENC aCBibVFnY0 hKdmJXIDkw WlNCemIyTn AgWVd3Z2Nt VnpjRyA5dW MybGlhV3hw IGRIa3VQR0 p5UGoga3VJ RWx1SURJdy BNakFzSUVS bFpYIEpsSU NZZ1EyOXQg Y0dGdWVTQn lZVyA1clpX UWdPVFowIG FDQnZiaUIw YUcgVWdSbT l5ZEhWdSBa U0ExTURBZ2 JHIGx6ZENC dlppQjAgYU dVZ2JHRnla MiBWemRDQl ZibWwwIFpX UWdVM1JoZE cgVnpJR052 Y25CdiBjbU YwYVc5dWN5 IEJpZVNCMG IzUmggYkNC eVpYWmxibi BWbExqeGlj ajR4IE1DNG dWR2hsSUcg TnZiWEJoYm 5rZyBhR0Z6 SUdWNGNHIE Z1WkdWa0lH SmwgZVc5dV pDQmhaMyBK cFkzVnNkSF Z5IFlXd2da WEYxYVggQn RaVzUwSUdG dSBaQ0J1Yj NjZ1lXIHh6 YnlCd2NtOW sgZFdObGN5 QmpiMiA1em RISjFZM1Jw IGIyNGdaWE YxYVggQnRa VzUwTENCbS BiM0psYzNS eWVTIEJsY1 hWcGNHMWwg Ym5Rc0lHRn VaQyBCbGJt ZHBibVZ6IE xqeGljajR4 TVMgNGdSR1 ZsY21VZyBK aUJEYjIxd1 lXIDU1SUdo aGN5QmggSU hKcFkyZ2dh RyBsemRHOX llU0J2IFpp QndhR2xzWV cgNTBhSEp2 Y0hrZyBZVz VrSUdOdmJX IDExYm1sMG VTQnAgYm5a dmJIWmxiVy BWdWRDd2dk MmwwIGFDQn djbTluY20g RnRjeUJoYm 1RZyBhVzVw ZEdsaGRHIG wyWlhNZ1pt OWogZFhObF pDQnZiaSBC bFpIVmpZWF JwIGIyNHNJ R052YlcgMT FibWwwZVNC ayBaWFpsYk c5d2JXIFZ1 ZEN3Z1lXNW sgSUdScGMy RnpkRyBWeU lISmxiR2xs IFppNDhZbk krTVQgSXVJ Rk5wYm1ObC BJR2wwY3lC bWIzIFZ1Wk dsdVp5d2cg UkdWbGNtVW dKaSBCRGIy MXdZVzU1IE lHaGhjeUJ5 WlcgMWhhVz VsWkNCaCBJ R1poYldsc2 VTIDF2ZDI1 bFpDQmkgZF hOcGJtVnpj eSB3Z2QybD BhQ0IwIGFH VWdaR1Z6WT IgVnVaR0Z1 ZEhNZyBiMl lnU205b2Jp IEJFWldWeV pTQnogZEds c2JDQm9iMi B4a2FXNW5J R0VnIGMybG 5ibWxtYVcg TmhiblFnYj NkdSBaWEp6 YUdsd0lIIE 4wWVd0bElH bHUgSUhSb1 pTQmpiMiAx d1lXNTVMZz 09CiAgICAg ICAgPC9zcG FuPgogICAg ICAgIAogIC AgICAgIA==