ftttttegi
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** f«co0M« «*>tt the u*np*vha? a p«*u*t oU«*bc* |*alc* corofrpctiwi a?4 rfiotc/ocwi e* em.it bp<otottV? ttaanotHo*of rcsowes cmlotMi* oxoxnc toicfiU *• to fttpicd tc StfUs lie tCkiJlu*. ai.‘ j rc> jLk c-aowtcCM to lMd« of IM mroirt of ?\r ^l^o’
VttNft the Cunpau vy* c «ail a p'Oriun to to reintoiitd ttc ftfmAaatrritPt «> ntsc^n*# n 9 vepjt«e to cl tot o*r »tiv the reWtortetnecn ti Xirtato c*\ain
t>« ^.nu railing fo a sfo%».»:o n picH the lUUfftfrtt 0/ jrc^l anS kc*l» n«l ci way rpni^ryjr^t f the tfljtt O' the t>*»C %?IjC Ol mOOCY d r*3Certal, P-/v.iuii art dotwrf.cd uu*C • cuTtfit P*c l#* »<« tfmrifWcti, «♦»«- ip;iep^C,tto n*» tot*# J**It, The .•iwdjnf 0/ d-VMtKt fc f «03«B0d*nthe KXtfttftCOfftroffcandfett
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hio/tktom rfi r«rf*A«* a l»« an# ©* «#tli rfpCtflhi pafoi *nd a4i?Ux* Io Xt&oc.f lKc cwrt br« inmate H n if no Ix^ff pftrotfe y c».fW Of reso^te? •»« to r tq> id to wetk the o4jthe peuk'o* 4 rm«w4
nl Mm»t« QgOlWK
A fin an: d IftJtruffCU « 0 CQ'fJUX that 0ks rfce tc a ftraub’ aster fer ore entity ard a r»i^iu< Uhlcy <r nm#ot for *«>#>•» emiy
cojor .v Awn
intw’. r#cctyi«*:n and m**ujt**nmt
Mi firanc id Hum m« m nyr» w«l iuim** »*! far vUut pt». n tto of fatarcsal anufe «o» recorded «f*r wipe thioqdl profit or low. PMCCfiOft costs ff*ai are attriUitabto to
tl# K 0JMlr.n Of flip lnn»:d *i\rt
SvbfcfracaMremert
*t* |»j«puse£ Of >jtr.O}wl tiK4s.<trr 'l, f,f.iroil liieil #»c i<1 foir
Pttrt i<BtA.*<re<*<5 01 ^n(ytf>cd c«t
debt •r^fn^m-rev, j? f.,r v->i ^ c^f< eo^p'tbeo^'t «vec«ne |rvrixi|
-Oefit irrtlr^rr**'^ dfilntlm *“*i f*>!*# t*ro«^ c<olH a>d losj C^*%TH|
HetmowtymrMirfd afi Ur ol.# th^wfb olhf* .nromf.TvfTlXll
Ocreto^nUcd
A fttaictt (or. v»terc accficoile. o partcd 1 ?nai>:al o;ict| n j«Vr*jifc'o;otn<i»J ).e. r«nu\ni ^rpr. t*# inn^tnn 9dffK€ 5*»crtJ {t'TbcCOfC’KtWlI to r«ci*ecjjfi «0<v5 ‘-Of* tto TO it hM Cyp'rtd €f
{II ^e C<rr^«nf Hu tro«4ferred to coWKtoil ''^«5 to re<eVe cry* do#? 1»0^ t^c ftroociil TOd or auurtni an cHi;itrn tc or» t*p ffrmrd cosh in M »tnout
•Ývotertfl c<tw » P tsrd pvty *n;«r b VaM-b'rovB^' K'K^ement. and otter |o) the Cecnf^nf h** Vor.ilottd vitnUihaly dl ir* rfcb and rr««id*. ft# *tv?t. tr OjI the Conv*"f h»» r»»thrr trjr«fmc««o»KU^ltUutaatullf allthf rnl? r**anlv oftr»c as?rt, bit hiiUatiln til coHrd cf*« «Kt.
frwwl luhltm
toitlal recc^ltkn ar-J meowr«rr«%t
fn;o: J totdlhe are ctTOlfbd otlrinal rocotn<o% »1moz*i RabflOtC x far iafw profit or «tv
PI ftrcaxtjltablttcs #c *p:atr» xd iNloflr x far t^ue arnj,-r toe cut ct toans ^id aid pjobm, nre o4 rtr#^v attrtiittblf ••arnorno* cow
ireCo^prs'Jdvnoai ItPtfltltt hctidetrade and other [w.ihr-.. soaiilrydBOOim r«ci*cd Me
5otoe»jieM meBe*i»tment
forpuwv?? o>* ?»b?^tocm meoMrcmenf-fnanc^i «abrtdt? aredTOrtedln tv^o catecodM*
•rpjnral nriMv^. it wtwtnH roT.
•(r.7r>rudiutiH»*t *tfrlrvfkj#thioj|h|rntt mdhwpVTpg De-'«ocn4on
A fninoal robli^ i? der«o;**ved *Un thecblexoe mdet the */bi ry it doefo'icd o* eaneeded or whan an #cMrr. frarartel xytdir# 1? 't&trd to erv:ocr ('em toe
?irr< letocr or sutoUfTtUI* dlferert tertro or the tent? of in edit ft* tattfey ere vitocyc alvnod/oj, ft* roi^uv cr modTic rh^i n tr#»t#? «< 0^*50 of *»e
0’t>nj'. Iibliy inJtkc reeocntfo* of » near ttbltf The 3Hcrer« lr tf»e reipectlretanyre amourci n r«K'a^i * the Ý*nximi id pmti an# vw-n) fcnpj'grMfrt fl*
%i acco'da-ro v*th tip AS IW, Ih* Cc*n£tf*Tf appivi k»jhcU?4 C'cJ<* lots l£CQ model '0/ maasuamsm j« leostttAcm wl nfurwm lovs on Pe-tok***'* I nan- ;* osyrts *r<J c/tdi h»l ooosuee:
f oanc-J OSSCtS noc J/< deb! -strvr*©«ts. *M O'f- tNfilly irtSXrUld at fx vabe v*fih ScfcStOJCit mwvft'-nt| ert am Coined corf • f., trod# and othar rrcnwib**. trcu'Cf
deposits. k-d^to *«Nrw5. CSC
The Company to t* tnlcus ?m^nM apfrcocV for recosr.tfcn Of *np?i-*wb»ebss skw^icebc trsrie reta v?bks
Th? JprVat nx of iirprfs^ apreveh -V»f5 nor 'MUrc din C«m:&lf to m&ch/rv,?* in rr**tl* '*k *.i!h*r. it ro N? rftOJhSfS Vni •Ip’M^tft’ Cn SUtrftt £CU
Jt repertr-f data. rgb! iron ih inu»l rret^pnnr
Id »*• the dffnrnvn ba»-*-a al ccntrortwl eaU Horn that »r# an* to thrjrmp in utarAr*t* »n IN- eonlraei ard »• ft* east fty-SthXtteentC, tuptfXi to rose*.* |i«. at cv* **f*thatvX ekccuil-S al th» rvljnil itfetlhr nlrrrrf /aIn
M a r»*rl»*4l oifa*Sar»t fr* Ctiitturiy u—i a ;rcstuc« raert* to dalarrtt# irrpav-v-il kxi Jkiu/ic* on pxtfrte of *t trade rar*v*:1ft 7h? prcajkn .-»:<rt/ 15 based cn *5 N^rrruf, cfc*ft*2 O/'iUl ra*.« fw tr- lire/ lh» Irada ttcflftflitte J»al 6 aged!-? for \'jT%j*\d-fcollii Klnr-tm. At r*rcv r-rrvmj reg hfltoncjtf fltwrvfp
rWau t taut V0 ufdaud i'O ch*f«M in H- fctvurdtookfec •emau; ara anatfM*.
Id Huukimn lx; alto-aoco for ra/orsafi ractaariawd rbiirc if- oariof <racoosuai at bcenrcV cMctnwlnth* Kauncni <A r*rrft andlou
0} |»0)|>mwrt of nai-fliaulil »w»n
The CitTfOi ktvu-A nr dm Comp'r/s nwinaiv cv iv*r\ nt*w lbs? d^rr-tc t?a am rnuru**i at Ihr md ol rv rcforf 'C p!^J to dMKnoe -»c’tn- tfiefC is Pay
rfd(V5o« ci *tipimcnl. If arr^ n<h rd<jloi faMt, 1-1 ro tir MMl'i r^CO^rrabn amo-nl « »ihiro-cd
froj^wibo amc««nt of 01 attirt cr ctiKffit rtOnz uwt f'CCt/} k pwaNr si «x vab. nuwsiiU fur vdM Im com to m4 U ivi- .mJ vafu? In »so. Crd W>n-<r «1 hmrf <inh flnAa i»f dccojrtKi So l*« p 1 »»««-* y^ur inj'f a pr»-tatf d<kcouaC »Ý!» It—t rdlnU timrl it—iian ci dm tme '•aljn ol roiry *id rrM t*> far
aurt ot C£U. fo-1*— pirpowcf inpirr«l Inlui;. mail tft-tcavrat b* Iwbd ire fiot£<d l^*ilhM irtj Ihr irrWl»tf group rtMtrll tt>t pmeopt f«|h rttn«y.
from cmlir-itit Ur 0-1 *»« UijvV «*dn»"»**r* ol thi cash a of oOmr 4i»Otlor groupl flf iWU |rC6t/l. *
An MfUMUM toil c 'Koa^id f «»« c-?fvw«i amour* of -I aaoi ck ^ CC*J coco;0; ts ii:rro:Mruotaatic arroirt aod». ?«ar«u»fl n itaimni of pmfrt *»ri U^v tepaknvea* fastps rcrognitcO in p^ca pan&Jt *0 oiiuwd at uhJ of 4ach fopartnc pinpl 5c< aiv oCkaDDstc*« kts hii <b^#..vd or min-**? «at^ An impai-fr^? kxt U ravwistd r ^ayo i»4 titan 2 cb;nc« n nc «:anjtfiS u^d W dKo rriw iho rocoavratif pneuffi. ttroaKiT^rt loz is rcvciitd crOy to lha iciarf cih 0- aiutx ra^rv4»r -ncurt! dMi ret metd tfiecairfn* an^irt that aw«ha%* fcotn dttematipj. net oi dexccwoncr 3«oa:MtKn. r no <n^*rmifc txs tuJU-nt-.ttiraud
pi FalrvilKmfMMrdwa^
Far Vd0f «tkai p<»u thWwuiid b« rttwwfj to »** aai «»art o- M>d lo a aaUH% n ua ^dar v naroacUjn t<iwn^ «mrtK panv^pjro «tfc meesiremert dJlc. ^a;ter
WUf riMWitwl a bavrfj on lK» cr<uarrpi*:n that Hit ?ranv*;twn to aril It- ami or UifrJv tU l-aaal* tato slatr Hthtf:
01 »“• ttw BtiriJOal «a*Xal kr Uo fiutl c* liaftlttr. cr
ded In Uir ilw.-icJ'j (ratepal iru*Vt-.. *1 die most osV-il^atraa n-rVot fot tt*J •&*&<* laiiiTy
Tf« p-mt.af or ttc nv^t wto«ojeoui na«><t must tc ccccssiib fa fat Corrpar^. He fair vaijr & an a:5« o' a lwCi<r c. mucitiH iaar« W- 4.wrr,;!»;»«. u-i mart«t it-ftipwts wWd uie MN;n t%t ossc-, O' lat» lev, o;sun*^ Hat mjiio:pa»tcp>nu act n t>*r t<or.-,rr,< bWt r^cr«L
A Ur vabe wis^eaent of a »or-f rrt«ci*l asset otrs irro xcoun 1 wWi pati^pjv. s at* fa to qen-ri*e «*Kor-#c tcicf.ts ty uin ih* amn in iu tufiNi -id t-rf m> or br scl»>£ «ro aMitf»:r mv\n pyiK*pi-i ifui m>jM use Oir asset m la Ntf>-s-. aid tea use.
71»e Car-pan/ uses vat oaten tec^n«jies that are arcyxclate in the orojrctarvrt and for w*ch tciffWoit daw are a^ilKAe to rrcaiu'c T^r aJbr. t»« uio of 1 ria%i.i*.
utsnvjtie niirts and rrUlefcarc far wee^ irolnrrotrfe •ourts
Al asi«u ^d 1-Lilies fet ^tich r«i vau> isn—ajub ur il v.u*4il n tl« fru«ua< stalci cits are cacetco^d wrlhn it- far Ý»4iireeiimx as hilira*. h«v*Pim lh*
burs! te/tl itp.t that Is sipitfCMt 10 dvefa*i vabe couj'cmcni a; a
lax'a* 1 - Quite* ^mctusredi rrorSet p-ices h actiae markets fo* dentil ws«se< UWf n
tax'd ? — VaUnt «o* tedtn qies lo» smchihe to-mi .'eve nputtf« is smOrare code le*' *»be ncasarer-euai d^«d, c< aid/ectVotic'sabb levd l — Vdi^tkxi tech nf(j»e> fer ssnch thehr-est vt* rpjt H« b vtni»:arr to r»e ftfrvikie ncj?are«re?tb ured^s^bb
fpr aunt, ifij Iw^iit'i TX. »fa tacc^thPJ in If- fr— \:%J sloUrraOiCi un a rocgmng brtK Corrpirr/ daiu^mn vdmfm irar.c'm Knp otratfO telurm irvirtt n th» hmrarrht ly reassert A2 catctc^itatbn (baud on du *>*•*£ kvd irpj: dia; £ iiirdomx to dsefal- vabs moaujrcnunt as a wfcrtr) at itsa oral of earn ieoo*t»-e p-wd
<0 Ta>«
Cirrent Incorr# taa
Cirrent -rs:otne »*< nsvaU and ladlliet 9'r m-atir-d ol the aooant r«p#yt«l to be rtrp/inU v&r or c»d to Hie ta*?to^ o*d»:rfd« The :a» flttf a»d tow lows used U» «n-(>/e»*- am;u^t art Itou K» armtnlc< 4.bv-.*-<*W, e-.ac»<d. at tfa* rofortjr^ it»lr.
C—nri mcors# l» rW— a< In i«rr* iirxpierd pmir ci lots Ý r*ecfncrd nutsd* p*ca'tt ci lni» (nlf—t in ether romprirfmyVe l’<one |0C^ 0* In etpKY) f»r*mr r>v
irt-ts ar« rr.^ud »r curreiatasn In It— u—irtSi-e tianiatl»:n it OO o» dvretfa it cauly Manager!—it poonrictly rvtkiil^. posUssm Cairn ai Ihe l*< rK imi vsllh
impact So trtuilom n vAtCh oao'calic U> <«yr-l4l>=m ir« IcbfUl to irln*(o1/ur and «»ub uhti pia«e»cm r* apsfnp-ntr.
OrAxrrd t«»
DeiWrod U* assets ar«i lataUju .ic rnMotcd a! the U* rates *.Nd arc u^cOctJ lo aspb in If- #tiir wStn th$ ami b»fdned cr far IwMny t\ ?etttf d tSKCd on •«Ý r«e* fpid Im *nsx| l>at hi*c lean cnooed u suLstarOrmb oieO*J al Hu icpuCrsc dale
Crferrcd U« ioOdr« to i«f»£ reside* outside faefit or loss S (c..v".eJ o-isbc pforr. c* bSi b oll«i cu-p thins/.t- marr c» in epjcyf DrfK-i-J t*x r* lotoiiiicd *1 cor.*dJd>i to the un*ccS<r« trarsorfo* et*o in CO 01 €S:cctS in cojftv
Cc^rred ta< toseis ir»d deferred O* l>6«0« j»e c^sc. If 1 biJiy ent>*<eabe e«ob to set oHc-arenttai assets scansi cuiro’t Un Ubitos 4i*i iho difi-ned ia>u /rial* to the s^nc t»w« ?ritv >np the lime ta/ado* iU*.»ortts
r J Cash H u£ ePtivafftHS
Catft ard c«h eq;w*<Mt »i the totirce sheet conprw cash at bari^ an-Jcn han? anj shert te-m drtcs'is *ph an crit»?al«acurtts cl thrw n>:mhs ct f;c: <At» eti a t sok«t to an Ks^rdcant rna ct ctwmprc h vabe
For the :«rp:** c/ thr stM»»r»»nr of <aV> fk—s\ cash mt rash nimia of cavi SU/n:e cn lard, ras* W»’» at tubs J-d shcrt t^TT. PeoosilS. *s CChnjd atKMi res
o’ OlC'torsie\$ barA oaudrafts as lf-i Mr ccr.vabr-0 an rtr.nH part nl IN* fatwni'i caih marufmsMil.
ftavi ifS MtoXCi ire ctk.fttcdby (fc*3i»cthe ccota foi the yeer KVltuitMto Ihe sharedcfdcrs c* the Conwv t* the •rt^toetJ average rubber of e**»ty ihiret oitttanSU* 15 it tte cod o' rtenart (*rx>&
Ofkitad IPs arrcuiu aru catoutatBd lr/ i)«.*:Sf£ t*« GfOflt attftutaftlt to the fchar«0*3ers o! the Ccm:ofy tr* ttu aristae! av*acc nunto* of ©qu<Y ihar* NUWKW &•»»*« tht year tm; the wenghtco J.trajc numb* of g*icy tfiaays that -cud be *swed cn cot w*o* c* tft the **ta*e poteK*al eqjt« ihyts into iquc/ stow*.
'A> ht«* #lu> (4iu«.: f Pi rwuii tv£r«d(* »# predt far the ft* iTtiitwtobttw it* shyehc/drrs cf theCcm:*!* t* atu* oi/u* .»•* mirfcrt of nj*«rv time. it «< th# ind of report OR period
A cifAfUMft labJc/ s*fccs whin tt»*fc s a coisfcfc but not (refcabe cttSgatot. or a preset ob»sat*>* t*« my/. t«jt prubitf* ocr. roqu'vt an ojttlx* of ikoitccs. or 3 svttfrt oMftttfenahose arx>*o: carrot t* emanate! rcfutlp. Coibrcctf Ibtmtfcs oo xrt wr**. bit ye dtefesro *.t«! oc&sfrlfcy of outlkxrot resoirccs»;
/•fidCl. Qntir&xt assets arc otftbai iccofinscd utr dfcctesrd kilbr lnir*drf »fpwr*rr, comtt^r wets ye »se5edcc*n»'o»l/ ard If t s tfit»a?Vc*fU«i that an
«*?uir of rtco:«TU tcurts *41 arise.th« *;*« aid rtfar.ed burnt are recoc*h«d * the c**wd i» *%** thecharge occvc*
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to* *«*««• Kunar ft Co HrMon beta* of the *<xvd of Erectors of
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H«tnf»KMna> Swip*>J#n Asfo*4»
Proprietor Dircocr Cwto*
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