Abbott Laboratories

-12.77%

More reviews (1)

Live  

Abbott Laboratories is an American multinational healthcare company that specializes in the development, manufacturing, and sale of pharmaceuticals, medical devices, and diagnostic products. It was founded in 1888 by Chicago physician Wallace Calvin Abbott and has its headquarters in Abbott Park, Illinois.
Today, Abbott Laboratories is one of the largest and most diversified healthcare companies in the world, with a presence in more than 160 countries. It is divided into four main business segments: Established Pharmaceuticals, Nutritionals, Medical Devices, and Diagnostics.
The company's pharmaceutical division focuses on developing and manufacturing prescription drugs for various therapeutic areas such as cardiovascular, neuroscience, and immunology. Its nutritional division is known for producing a wide range of nutritional products, including infant formula, adult nutrition, and diabetes care products.
Abbott Laboratories also has a significant presence in the medical device industry, producing products such as diabetes care devices, cardiovascular devices, and vision care products. Its diagnostics division offers a variety of laboratory instruments, reagents, and assays for the detection of diseases.
In addition to its core healthcare products, Abbott Laboratories also has a strong commitment to improving global health, particularly in developing countries. The company invests millions of dollars in programs and partnerships aimed at combating health issues like HIV/AIDS, malnutrition, and maternal and child health.
Overall, Abbott Laboratories has a long history of innovation and a strong commitment to improving people's lives through its products and initiatives. It continues to be a leader in the healthcare industry, constantly evolving and adapting to the changing needs of patients and healthcare providers.

Abbott Laboratories is a big company that helps people stay healthy. They make lots of different things like medicines, special food for people who need extra help, and tools that doctors use to check how healthy we are. For example, they make tests to find out if someone is sick and even machines that can help keep our hearts working well.
Abbott makes money by selling these products to hospitals, doctors, and pharmacies. When someone buys their medicine or medical equipment, Abbott gets paid for it. They also create special products for babies and other people who need help with their diets. Because they offer many different items, they can help lots of people and make money in many ways.
Abbott has been successful for a long time because they always try to invent new and better products. They also make sure their products are really good and safe, which helps doctors and patients trust them. In the future, they will likely continue to be successful because they keep researching and developing new technology to help people, especially as our world has new health challenges. People will always need help staying healthy, and because Abbott is good at providing that help, they will likely keep doing well for years to come.

MS4gTG9uZy BIaXN0b3J5 OiBBYmJvdH QgTGFib3Jh dG9yaWVzIG hhcyBiZWVu IGluIGV4aX N0ZW5jZSBm b3Igb3Zlci AxMzAgeWVh cnMsIG1ha2 luZyBpdCBv bmUgb2YgdG hlIG9sZGVz dCBhbmQgbW 9zdCBlc3Rh Ymxpc2hlZC Bjb21wYW5p ZXMgaW4gdG hlIGhlYWx0 aGNhcmUgaW 5kdXN0cnku PGJyPjIuIE 11bHRpLVNw ZWNpYWx0eS BDb21wYW55 OiBBYmJvdH QgTGFib3Jh dG9yaWVzIG 9wZXJhdGVz IGluIGEgZG l2ZXJzZSBy YW5nZSBvZi BzZWN0b3Jz IGluY2x1ZG luZyBwaGFy bWFjZXV0aW NhbHMsIG1l ZGljYWwgZG V2aWNlcywg ZGlhZ25vc3 RpY3MsIGFu ZCBudXRyaX Rpb24sIGdp dmluZyB0aG UgY29tcGFu eSBhIHdpZG UgcmVhY2gg aW4gdGhlIG hlYWx0aGNh cmUgbWFya2 V0Ljxicj4z LiBHbG9iYW wgUHJlc2Vu Y2U6IFdpdG ggb3BlcmF0 aW9ucyBpbi Btb3JlIHRo YW4gMTYwIG NvdW50cmll cywgQWJib3 R0IExhYm9y YXRvcmllcy BoYXMgYSBz dHJvbmcgZ2 xvYmFsIHBy ZXNlbmNlLC BhbGxvd2lu ZyBpdCB0by BzZXJ2ZSBh IGRpdmVyc2 UgcmFuZ2Ug b2YgY3VzdG 9tZXJzIHdv cmxkd2lkZS 48YnI+NC4g U3Ryb25nIE ZvY3VzIG9u IFJlc2Vhcm NoIGFuZCBE ZXZlbG9wbW VudDogVGhl IGNvbXBhbn kgaGFzIGEg ZGVkaWNhdG VkIHJlc2Vh cmNoIGFuZC BkZXZlbG9w bWVudCB0ZW FtIHRoYXQg Zm9jdXNlcy BvbiBkZXZl bG9waW5nIG lubm92YXRp dmUgcHJvZH VjdHMgYW5k IHRlY2hub2 xvZ2llcyB0 byBhZGRyZX NzIHVubWV0 IG1lZGljYW wgbmVlZHMg YW5kIGltcH JvdmUgcGF0 aWVudCBvdX Rjb21lcy48 YnI+NS4gU3 Ryb25nIFBv cnRmb2xpby BvZiBQcm9k dWN0czogQW Jib3R0IExh Ym9yYXRvcm llcyBoYXMg YSBzdHJvbm cgcG9ydGZv bGlvIG9mIH Byb2R1Y3Rz LCBpbmNsdW RpbmcgcG9w dWxhciBicm FuZHMgc3Vj aCBhcyBTaW 1pbGFjLCBF bnN1cmUsIG FuZCBGcmVl c3R5bGUgTG licmUsIHdo aWNoIGFyZS B0cnVzdGVk IGJ5IGhlYW x0aGNhcmUg cHJvZmVzc2 lvbmFscyBh bmQgcGF0aW VudHMgd29y bGR3aWRlLj xicj42LiBD b21taXRtZW 50IHRvIFN1 c3RhaW5hYm lsaXR5OiBU aGUgY29tcG FueSBoYXMg YSBzdHJvbm cgY29tbWl0 bWVudCB0by BzdXN0YWlu YWJpbGl0eS BhbmQgaGFz IGltcGxlbW VudGVkIHZh cmlvdXMgaW 5pdGlhdGl2 ZXMgdG8gcm VkdWNlIGl0 cyBlbnZpcm 9ubWVudGFs IGltcGFjdC wgaW1wcm92 ZSBhY2Nlc3 MgdG8gaGVh bHRoY2FyZS wgYW5kIHN1 cHBvcnQgbG 9jYWwgY29t bXVuaXRpZX MuPGJyPjcu IEhpZ2gtUX VhbGl0eSBT dGFuZGFyZH M6IEFiYm90 dCBMYWJvcm F0b3JpZXMg aGFzIGEgcm VwdXRhdGlv biBmb3IgbW FpbnRhaW5p bmcgaGlnaC 1xdWFsaXR5 IHN0YW5kYX JkcyBpbiBp dHMgcHJvZH VjdHMgYW5k IHByb2Nlc3 NlcywgZW5z dXJpbmcgc2 FmZXR5IGFu ZCBlZmZpY2 FjeSBmb3Ig cGF0aWVudH MuPGJyPjgu IEZvY3VzIG 9uIEN1c3Rv bWVyIE5lZW RzOiBUaGUg Y29tcGFueS dzIGN1c3Rv bWVyLWNlbn RyaWMgYXBw cm9hY2ggaX MgcmVmbGVj dGVkIGluIG l0cyBjb21t aXRtZW50IH RvIG1lZXRp bmcgdGhlIG 5lZWRzIG9m IHBhdGllbn RzLCBoZWFs dGhjYXJlIH Byb2Zlc3Np b25hbHMsIG FuZCBvdGhl ciBzdGFrZW hvbGRlcnMu PGJyPjkuIF N0cm9uZyBG aW5hbmNpYW wgUGVyZm9y bWFuY2U6IE FiYm90dCBM YWJvcmF0b3 JpZXMgaGFz IGNvbnNpc3 RlbnRseSBk ZWxpdmVyZW Qgc3Ryb25n IGZpbmFuY2 lhbCBwZXJm b3JtYW5jZS wgbWFraW5n IGl0IGEgcm VsaWFibGUg YW5kIHN0YW JsZSBjb21w YW55IGZvci BpbnZlc3Rv cnMuPGJyPj EwLiBTdHJv bmcgQ29ycG 9yYXRlIEN1 bHR1cmU6IF RoZSBjb21w YW55IGhhcy BhIHN0cm9u ZyBjb3Jwb3 JhdGUgY3Vs dHVyZSB0aG F0IHZhbHVl cyBkaXZlcn NpdHksIGlu Y2x1c2lvbi wgYW5kIGVt cGxveWVlIH dlbGwtYmVp bmcsIG1ha2 luZyBpdCBh IGRlc2lyYW JsZSBwbGFj ZSB0byB3b3 JrIGZvciBl bXBsb3llZX Mu

VGhlIGNvcm UgYnVzaW5l c3MgbW9kZW wgb2YgQWJi b3R0IExhYm 9yYXRvcmll cyBpcyB0by BkZXZlbG9w LCBtYW51Zm FjdHVyZSwg YW5kIG1hcm tldCBhIGRp dmVyc2Ugcm FuZ2Ugb2Yg aGVhbHRoY2 FyZSBwcm9k dWN0cyBhbm Qgc2Vydmlj ZXMsIGluY2 x1ZGluZyBw aGFybWFjZX V0aWNhbHMs IG1lZGljYW wgZGV2aWNl cywgZGlhZ2 5vc3RpY3Ms IGFuZCBudX RyaXRpb24g cHJvZHVjdH MuIFRoZSBj b21wYW55IG 9wZXJhdGVz IGluIHNldm VyYWwgc2Vn bWVudHMsIG luY2x1ZGlu ZyBFc3RhYm xpc2hlZCBQ aGFybWFjZX V0aWNhbHMs IE1lZGljYW wgRGV2aWNl cywgTnV0cm l0aW9uLCBh bmQgRGlhZ2 5vc3RpY3Mu IDxicj5BYm JvdHQgTGFi b3JhdG9yaW VzJyBidXNp bmVzcyBzdH JhdGVneSBm b2N1c2VzIG 9uIGlubm92 YXRpb24gYW 5kIGFjcXVp c2l0aW9uIH RvIGV4cGFu ZCBpdHMgcH JvZHVjdCBw b3J0Zm9saW 8gYW5kIGVu dGVyIG5ldy BtYXJrZXRz LiBUaGUgY2 9tcGFueSBp bnZlc3RzIG hlYXZpbHkg aW4gcmVzZW FyY2ggYW5k IGRldmVsb3 BtZW50IHRv IGRldmVsb3 AgbmV3IGFu ZCBpbm5vdm F0aXZlIGhl YWx0aGNhcm Ugc29sdXRp b25zLCB3aG ljaCBhcmUg dGhlbiBtYX JrZXRlZCBn bG9iYWxseS 4gQWRkaXRp b25hbGx5LC BBYmJvdHQg TGFib3JhdG 9yaWVzIGFj cXVpcmVzIG 90aGVyIGNv bXBhbmllcy B0byBkaXZl cnNpZnkgaX RzIHByb2R1 Y3Qgb2ZmZX JpbmdzIGFu ZCBleHBhbm QgaXRzIGds b2JhbCBwcm VzZW5jZS4g PGJyPlRoZS Bjb21wYW55 IGFsc28gaG FzIGEgc3Ry b25nIGZvY3 VzIG9uIGZp bmFuY2lhbC BkaXNjaXBs aW5lLCBjb3 N0IGNvbnRy b2wsIGFuZC BvcGVyYXRp b25hbCBlZm ZpY2llbmN5 IHRvIGRyaX ZlIHByb2Zp dGFiaWxpdH kgYW5kIGxv bmctdGVybS Bncm93dGgu IEl0cyBleH RlbnNpdmUg ZGlzdHJpYn V0aW9uIG5l dHdvcmsgYW 5kIHBhcnRu ZXJzaGlwcy B3aXRoIGhl YWx0aGNhcm UgcHJvdmlk ZXJzIGFuZC Bnb3Zlcm5t ZW50cyBlbm FibGUgaXQg dG8gcmVhY2 ggYSB3aWRl IGN1c3RvbW VyIGJhc2Ug YW5kIGVuc3 VyZSB0aGUg YXZhaWxhYm lsaXR5IG9m IGl0cyBwcm 9kdWN0cyBh bmQgc2Vydm ljZXMuIDxi cj5PdmVyYW xsLCBBYmJv dHQgTGFib3 JhdG9yaWVz JyBidXNpbm VzcyBtb2Rl bCBjZW50ZX JzIG9uIHBy b3ZpZGluZy BxdWFsaXR5 IGFuZCBpbm 5vdmF0aXZl IGhlYWx0aG NhcmUgc29s dXRpb25zIH doaWxlIGV4 cGFuZGluZy BpdHMgZ2xv YmFsIHJlYW NoIHRocm91 Z2ggYSBjb2 1iaW5hdGlv biBvZiBvcm dhbmljIGdy b3d0aCBhbm Qgc3RyYXRl Z2ljIGFjcX Vpc2l0aW9u cy4=

AI does pose potential challenges to Abbott Laboratories in several ways.
Firstly, substitution could occur if AI-driven innovations lead to alternative health solutions that compete with Abbott’s products. For instance, advancements in telemedicine and digital health platforms could offer consumers alternative diagnostics or health management tools that reduce reliance on traditional medical devices and tests that Abbott provides.
Secondly, disintermediation may happen as AI technologies streamline processes, connecting healthcare providers directly with patients. This shift could lessen the role of intermediaries and traditional healthcare channels that Abbott relies on for distribution and supply of its products.
Lastly, margin pressure could arise due to increased competition from tech companies entering the healthcare space. As AI lowers the costs of developing and delivering certain healthcare applications, it could compress the margins on Abbott’s products if they face pressure to reduce prices in response.
In summary, while AI can offer opportunities for innovation and efficiency, it also presents material threats to Abbott Laboratories through substitution of their products, potential disintermediation in healthcare delivery, and increased margin pressure resulting from heightened competition.

The sensitivity of Abbott Laboratories’ earnings, cash flow, and valuation to changes in interest rates can be understood through several key factors:
1. Debt Levels: If Abbott has significant outstanding debt, rising interest rates can lead to increased interest expenses. This can adversely affect net earnings and cash flow, especially if the company is unable to pass on these costs to consumers through higher prices.
2. Cost of Capital: Interest rates impact the overall cost of capital. Higher rates can lead to a higher discount rate in discounted cash flow (DCF) valuation models, which can decrease the present value of future cash flows. As a result, an increase in interest rates may lower Abbott’s valuation.
3. Consumer Spending: In a high-interest-rate environment, consumers may reduce spending on health-related products and services, which could directly impact Abbott’s sales and revenue growth. This effect can vary depending on the specific segment of Abbott’s business, such as medical devices, diagnostics, or nutrition.
4. Investment in R&D: Changes in interest rates can affect Abbott’s decisions regarding capital expenditures and investment in research and development. Higher borrowing costs might lead to more stringent capital allocation, potentially impacting long-term growth and innovation.
5. Market Sentiment: Interest rates influence overall market sentiment and investor behavior. Rising rates may lead to a shift in investment strategies, with investors potentially favoring less volatile investments (like bonds) over equities, including those of Abbott.
6. Foreign Exposure: Abbott operates globally, and changes in interest rates can also affect foreign exchange rates. If interest rates rise in the U.S., it could strengthen the dollar, making Abbott’s international sales less competitive.
Overall, Abbott Laboratories’ earnings, cash flow, and valuation are sensitive to changes in interest rates due to their impact on borrowing costs, consumer behavior, market conditions, and investment strategy.

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 bG9nb3MvMW VnWkFwdHRC bjhOcERNTE xQaHMud2Vi cCIgYWx0PS JBYmJvdHQg TGFib3JhdG 9yaWVzIiB0 aXRsZT0iQW Jib3R0IExh Ym9yYXRvcm llcyIgIGNs YXNzPSJpbW ctZmx1aWQi IGhlaWdodD 05MCB3aWR0 aD05MCBsb2 FkaW5nPSds YXp5JyBzdH lsZT0nYm9y ZGVyLXJhZG l1czogNnB4 Oyc+CgogIC AgICAgICAg ICAgICAgIC AgIDxkaXYg c3R5bGU9J2 ZsZXg6IDE7 IHRleHQtYW xpZ246IGNl bnRlcjsgbW FyZ2luLWxl ZnQ6IDVweD snPgogICAg ICAgICAgIC AgICAgICAg ICAgICA8cC BzdHlsZT0n Zm9udC1zaX plOiAyNnB4 OyBjb2xvcj ogIzMzMzsg bWFyZ2luLW JvdHRvbTog MTVweDsnPg ogICAgICAg ICAgICAgIC AgICAgICAg ICAgICAg8J +TiCBXYW50 IHRvIHJlYW QgbW9yZSBh Ym91dCBBYm JvdHQgTGFi b3JhdG9yaW VzPwogICAg ICAgICAgIC AgICAgICAg ICAgICA8L3 A+CgogICAg ICAgICAgIC AgICAgICAg ICAgICA8YS BocmVmPSdp bmRleC5waH A/cGFnZT1z aWdudXAnIH N0eWxlPScK ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgIGJh Y2tncm91bm QtY29sb3I6 ICMwMDdCRk Y7CiAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIC Bjb2xvcjog I2ZmZjsKIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgIHBhZG Rpbmc6IDEw cHggMjBweD sKICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIG JvcmRlci1y YWRpdXM6ID VweDsKICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgIHRleHQt ZGVjb3JhdG lvbjogbm9u ZTsKICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg IGZvbnQtd2 VpZ2h0OiBi b2xkOwogIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgbWFyZ2 luLXJpZ2h0 OiAxMHB4Ow ogICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgdH JhbnNpdGlv bjogYmFja2 dyb3VuZC1j b2xvciAwLj NzIGVhc2U7 JwogICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg b25tb3VzZW 92ZXI9J3Ro aXMuc3R5bG UuYmFja2dy b3VuZENvbG 9yPSIjMDA1 NmIzIicKIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgIG9ubW 91c2VvdXQ9 J3RoaXMuc3 R5bGUuYmFj a2dyb3VuZE NvbG9yPSIj MDA3QkZGIi c+CiAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIC BTaWduIHVw IGZvciBmcm VlCiAgICAg ICAgICAgIC AgICAgICAg ICAgIDwvYT 4KCiAgICAg ICAgICAgIC AgICAgICAg ICAgIDxzcG FuIHN0eWxl PSdtYXJnaW 46IDAgOHB4 OyBjb2xvcj ogIzU1NTsn Pm9yPC9zcG FuPgoKICAg ICAgICAgIC AgICAgICAg ICAgICAgPG EgaHJlZj0n aW5kZXgucG hwP3BhZ2U9 bG9naW4nIH N0eWxlPScK ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgIGNv bG9yOiAjMD A3QkZGOwog ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgdGV4 dC1kZWNvcm F0aW9uOiB1 bmRlcmxpbm U7CiAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIC Bmb250LXdl aWdodDogNT AwOyc+CiAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgICBsb2cg aW4KICAgIC AgICAgICAg ICAgICAgIC AgICAgPC9h PgoKCiAgIC AgICAgICAg ICAgICAgIC AgICAgIDxw IHN0eWxlPS dtYXJnaW4t dG9wOiAxNX B4OyBmb250 LXNpemU6ID EzcHg7IGZv bnQtd2VpZ2 h0OiBib2xk OyBjb2xvcj ogI2QzMmYy ZjsnPgogIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAg8J+Tmi BZb3VyIGZy ZWUgY29weS BvZiA8aT4i VGhlIENoZW NrbGlzdCBW YWx1ZSBJbn Zlc3RvciDi gJQgQSBTbW FydGVyIFdh eSB0byBQaW NrIFN0b2Nr cyI8L2k+IG lzIHdhaXRp bmcKICAgIC AgICAgICAg ICAgICAgIC AgICAgPC9w PgoKICAgIC AgICAgICAg ICAgICAgIC AgICAgPCEt LQogICAgIC AgICAgICAg ICAgICAgIC AgICA8ZGl2 IHN0eWxlPS dtYXJnaW4t dG9wOiAxMn B4OyBmb250 LXNpemU6ID EzcHg7IGNv bG9yOiAjND Q0Oyc+CiAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgICBTaWdu IHVwIG5vdy BhbmQgZ2V0 IG91ciBmcm VlIGVCb29r IAogICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg PGI+VGhlIE NoZWNrbGlz dCBWYWx1ZS BJbnZlc3Rv ciDigJQgQS BTbWFydGVy IFdheSB0by BQaWNrIFN0 b2NrczwvYj 4KICAgICAg ICAgICAgIC AgICAgICAg ICAgPC9kaX Y+CiAgICAg ICAgICAgIC AgICAgICAg ICAgIC0tPg ogICAgICAg ICAgICAgIC AgICAgICAg ICA8IS0tCi AgICAgICAg ICAgICAgIC AgICAgICAg IDxkaXYgc3 R5bGU9J21h cmdpbi10b3 A6IDE2cHg7 IGZvbnQtc2 l6ZTogMTRw eDsgY29sb3 I6ICM0NDQ7 IGZvbnQtZm FtaWx5OiAt YXBwbGUtc3 lzdGVtLCBC bGlua01hY1 N5c3RlbUZv bnQsIFNlZ2 9lIFVJLCBS b2JvdG8sIE hlbHZldGlj YSBOZXVlLC BzYW5zLXNl cmlmOyBsaW 5lLWhlaWdo dDogMS42Oy c+CiAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIC BIYXZlIHlv dSBoZWFyZC BhYm91dCBv dXIgc2hvcn QgPHN0cm9u ZyBzdHlsZT 0nZm9udC13 ZWlnaHQ6ID YwMDsnPkRh aWx5IFZpZG VvIE5ld3Ns ZXR0ZXI8L3 N0cm9uZz4/ CiAgICAgIC AgICAgICAg ICAgICAgIC AgICAgICA8 YSBocmVmPS dodHRwczov L3d3dy5pbn NpZ2h0ZnVs dmFsdWUuY2 9tL25ld3Ns ZXR0ZXIucG hwJyB0YXJn ZXQ9J19ibG Fuaycgc3R5 bGU9J2NvbG 9yOiAjMDA3 QkZGOyB0ZX h0LWRlY29y YXRpb246IG 5vbmU7IGZv bnQtd2VpZ2 h0OiA1MDA7 IG1hcmdpbi 1sZWZ0OiA2 cHg7Jz4KIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIC BGaW5kIG91 dCBtb3JlCi AgICAgICAg ICAgICAgIC AgICAgICAg ICAgICA8L2 E+CiAgICAg ICAgICAgIC AgICAgICAg ICAgIDwvZG l2PgogICAg ICAgICAgIC AgICAgICAg ICAgICAtLT 4KICAgICAg ICAgICAgIC AgICAgICA8 L2Rpdj4KIC AgICAgICAg ICAgICAgID wvZGl2Pgog ICAgICAgIC AgICA8L2Rp dj4KICAgIC AgICAgICAg CiAgICAgIC AgCiAgICAg ICAgPHNwYW 4gY2xhc3M9 J2JsdXJyZW QtdGV4dCc+ CiAgICAgIC AgICAgIE1T NGdRV0ppYj MgUjBJRXho WW05eSBZWF J2Y21sbGN5 IEIzWVhNZ1 ptOTEgYm1S bFpDQnBiaS BBeE9EZzRJ R0o1IElFUn lMaUJYWVcg eHNZV05sSU VNdSBJRUZp WW05MGRDIH dnZDJodklI ZGggY3lCaE lFTm9hVyBO aFoyOGdjR2 g1IGMybGph V0Z1SUcgRn VaQ0J3YUdG eSBiV0ZqYV hOMExpIEJK Ym1sMGFXRn MgYkhrc0lI Um9aUyBCam IyMXdZVzU1 IElIZGhjeU JtYjIgTjFj MlZrSUc5dS BJRzFoYm5W bVlXIE4wZF hKcGJtY2cg WkhKMVozTW dZVyA1a0lI QnliMlIxIF kybHVaeUJp YjMgUmhibW xqWVd3ZyBa WGgwY21Gam RIIE1zSUdK MWRDQnAgZE NCc1lYUmxj aSBCbGVIQm hibVJsIFpD QnBiblJ2SU cgSnNiMjlr SUdkcyBkV0 52YzJVZ2JX IDl1YVhSdm NtbHUgWnl3 Z2JuVjBjbS BsMGFXOXVJ SEJ5IGIyUj FZM1J6TEMg QnRaV1JwWT JGcyBJR1Js ZG1salpYIE 1zSUdGdVpD QmsgYVdGbm JtOXpkRyBs amN5NDhZbk krIE1pNGdW R2hsSUcgTn ZiWEJoYm5u aSBnSmx6SU dacGNuIE4w SUcxaGFtOX kgSUdKeVpX RnJkRyBoeW IzVm5hQ0Jq IFlXMWxJR2 x1SUQgRTRP VE1zSUhkby BaVzRnYVhR Z1pHIFYyWl d4dmNHVmsg SUdFZ2JXVm thVyBOcGJt VWdZMkZzIG JHVmtJSFJv WlMgQkJZbU p2ZEhRZyBR V3hyWVd4dm FXIFJoYkNC RGIyMXcgWV c1NTRvQ1pj eSBCTlpXUn BZMmx1IFlX d2dSR2xuWl ggTjBhWFps SUVWcyBhWG hwY2k0Z1ZH IGhwY3lCdF pXUnAgWTJs dVpTQmlaVy BOaGJXVWdk MmxrIFpXeD VJSEJ2Y0gg VnNZWElnWm 05eSBJSEps YkdsbGRtIG x1WnlCd1lX bHUgSUdGdV pDQnBiWCBC eWIzWnBibW NnIFpHbG5a WE4wYVcgOX VMQ0JoYm1R ZyBhWFFnYU dWc2NHIFZr SUhCMWRDQk IgWW1KdmRI UWdURyBGaW IzSmhkRzl5 IGFXVnpJRz l1SUggUm9a U0J0WVhBdS BQR0p5UGpN dUlFIGx1SU RFNU1ETXMg SUVGaVltOT BkQyBCTVlX SnZjbUYwIG IzSnBaWE1n WW0gVmpZVz FsSUc5dSBa U0J2WmlCMG FHIFVnWm1s eWMzUWcgWT I5dGNHRnVh VyBWeklIUn ZJSEJ5IGIy UjFZMlVnWV MgQnpkR0Z1 WkdGeSBaR2 w2WldRZ1pt IDl5YlNCdl ppQmsgYVdk cGRHRnNhWC BNc0lHRWdh R1ZoIGNuUW diV1ZrYVcg TmhkR2x2Ym k0ZyBWR2hw Y3lCb1pXIH h3WldRZ2Nt VjIgYjJ4MW RHbHZibSBs NlpTQjBhR1 VnIGRISmxZ WFJ0WlcgNT BJRzltSUdo bCBZWEowSU dScGMyIFZo YzJVdVBHSn kgUGpRdUlF UjFjbSBsdV p5QlhiM0pz IFpDQlhZWE lnU1Uga3NJ RUZpWW05MC BkQ0JNWVdK dmNtIEYwYj NKcFpYTWcg Y0hKdlpIVm paVyBRZ1lX NGdaWGh3IF pYSnBiV1Z1 ZEcgRnNJR1 J5ZFdjcyBJ SEJsYm1sam FXIHhzYVc0 c0lHbHUgSU d4aGNtZGxJ SCBGMVlXNT BhWFJwIFpY TXVJRlJvYV ggTWdkMkZ6 SUhWeiBaV1 FnZEc4Z2RI IEpsWVhRZ2 QyOTEgYm1S bFpDQnpiMi B4a2FXVnlj eUJ2IGJpQj BhR1VnWm4g SnZiblFnYk dsdSBaWE1z SUdobGJIIE JwYm1jZ2RH OGcgYzJGMl pTQnRZVyA1 NUlHeHBkbV Z6IExqeGlj ajQxTGkgQk JZbUp2ZEhR ZyBUR0ZpYj NKaGRHIDl5 YVdWeklHaG ggY3lCaElH eHZibSBjZ2 FHbHpkRzl5 IGVTQnZaaU JrWlggWmxi Rzl3YVc1bi BJR2x1Ym05 MllYIFJwZG 1VZ2JXVmsg YVdOaGJDQm taWCBacFky VnpMaUJKIG JpQXhPVFUw TEMgQjBhR1 VnWTI5dCBj R0Z1ZVNCcG JuIFJ5YjJS MVkyVmsgSU hSb1pTQm1h WCBKemRDQn RZWE56IExY QnliMlIxWT IgVmtJR0pz YjI5ayBJR2 RzZFdOdmMy IFVnYldWMF pYSXMgSUhk b2FXTm9JSC BKbGRtOXNk WFJwIGIyNX BlbVZrSUcg UnBZV0psZE dWeiBJRzFo Ym1GblpXID FsYm5RdVBH SnkgUGpZdU lFbHVJRCBJ d01URXNJRU ZpIFltOTBk Q0JNWVcgSn ZjbUYwYjNK cCBaWE1nYz NCc2FYIFFn YVc1MGJ5Qj AgZDI4Z2My VndZWCBKaG RHVWdZMjl0 IGNHRnVhV1 Z6T2kgQkJZ bUp2ZEhRcy BJSGRvYVdO b0lHIFp2WT NWelpYTWcg YjI0Z2JXVm thVyBOaGJD QmtaWFpwIF kyVnpMQ0Jr YVcgRm5ibT l6ZEdsaiBj eXdnWVc1a0 lHIDUxZEhK cGRHbHYgYm lCd2NtOWtk VyBOMGN5d2 dZVzVrIElF RmlZbFpwWl Mgd2dkMmhw WTJnZyBabT lqZFhObGN5 IEJ2YmlCd2 FHRnkgYldG alpYVjBhVy BOaGJITXVQ R0p5IFBqY3 VJRUZpWW0g OTBkQ0JNWV dKdiBjbUYw YjNKcFpYIE 1nYUdGeklH MWggWkdVZ2 MyVjJaWCBK aGJDQnViM1 JoIFlteGxJ R0ZqY1ggVn BjMmwwYVc5 dSBjeUJ2ZG 1WeUlIIFJv WlNCNVpXRn kgY3l3Z2FX NWpiSCBWa2 FXNW5JSFJv IFpTQndhR0 Z5YlcgRmpa WFYwYVdOaC BiQ0JqYjIx d1lXIDU1SU VGc2VtRWcg UTI5eWNHOX lZWCBScGIy NGdhVzRnIE 1qQXdNU0Jo Ym0gUWdkR2 hsSUc1MSBk SEpwZEdsdm JpIEJqYjIx d1lXNTUgSU U1bGMzUnNa ZSBLQW1YTW dhVzVtIFlX NTBJRzUxZE ggSnBkR2x2 YmlCayBhWF pwYzJsdmJp IEJwYmlBeU 1ERTMgTGp4 aWNqNDRMaS BCVWFHVWdZ Mjl0IGNHRn VlU0JvWVgg TWdZU0J6ZE hKdiBibWNn WjJ4dlltIE ZzSUhCeVpY TmwgYm1ObE xDQjNhWCBS b0lHOXdaWE poIGRHbHZi bk1nYVcgNG diM1psY2lB eCBOakFnWT I5MWJuIFJ5 YVdWeklHRn UgWkNCd2Nt OWtkVyBOMG N5QnpiMnhr IElHbHVJRz F2Y20gVWdk R2hoYmlBeC BOakF1UEdK eVBqIGt1SU VsdUlESXcg TVRZc0lFRm lZbSA5MGRD Qk1ZV0p2IG NtRjBiM0pw WlggTWdiV0 ZrWlNCaCBJ RzFoYW05eU lHIEp5WldG cmRHaHkgYj NWbmFDQnBi aSBCMGFHVW dabWxsIGJH UWdiMllnWk cgbGhaMjV2 YzNScCBZM0 1nZDJsMGFD IEIwYUdVZ1 pHVjIgWld4 dmNHMWxibi BRZ2IyWWdZ U0J5IFlYQn BaQ0IwWlgg TjBJR1p2Y2 lCMCBhR1Vn V21scllTIE IyYVhKMWN5 NGcgVkdocG N5QjBaWCBO MElHTnZkV3 hrIElIQnli M1pwWkcgVW djbVZ6ZFd4 MCBjeUJwYm lCcWRYIE4w SUdacGRtVW cgZEc4Z2My VjJaVyA0Z1 pHRjVjeXdn IFkyOXRjR0 Z5WlcgUWdk RzhnZDJWbC BhM01nZDJs MGFDIEIwY2 1Ga2FYUnAg YjI1aGJDQj BaWCBOMGFX NW5JRzFsIG RHaHZaSE11 UEcgSnlQak V3TGlCQiBZ bUp2ZEhRZ1 RHIEZpYjNK aGRHOXkgYV dWeklHbHpJ RyBOdmJXMX BkSFJsIFpD QjBieUJ6ZF ggTjBZV2x1 WVdKcCBiR2 wwZVNCaGJt IFFnYUdGek lITmwgZENC bmIyRnNjeS BCMGJ5Qnla V1IxIFkyVW dhWFJ6SUcg TmhjbUp2Ym lCbSBiMjkw Y0hKcGJuIF FzSUdsdVkz SmwgWVhObE lHVnVaWCBK bmVTQmxabV pwIFkybGxi bU41TEMgQm hibVFnWkdW aiBjbVZoYz JVZ2QyIEYw WlhJZ2RYTm ggWjJVdUlG Um9aUyBCam IyMXdZVzU1 IElHaGhjeU JoYkggTnZJ R2x0Y0d4bC BiV1Z1ZEdW a0lIIEpsWT NsamJHbHUg WnlCd2NtOW 5jbSBGdGN5 QmhibVFnIG FYTWdZMjl1 ZEcgbHVkVz kxYzJ4NSBJ SGR2Y210cG JtIGNnZEc4 Z2NtVmsgZF dObElIZGhj MyBSbElHbH VJR2wwIGN5 QnZjR1Z5WV ggUnBiMjV6 TGc9PQogIC AgICAgIDwv c3Bhbj4KIC AgICAgICAK ICAgICAgIC A=