| Summary of Significant Accounting Policies | 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (a) Basis of Consolidation The consolidated financial statements of the
Company have been prepared in accordance with U.S. generally accepted accounting principles. The consolidated financial statements
include the accounts of the Company, its subsidiaries, and its VIE and VIE subsidiaries for which the Company is the primary beneficiary.
All significant intercompany accounts and transactions have been eliminated in consolidation. (b) Use of Estimates The preparation of financial statements in
conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect
the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial
statements, and the reported amounts of revenue and expenses during the reporting period. The Company’s significant estimates
include its accounts receivable, fair value of stock options and warrants, valuation allowance of deferred tax assets, and other
intangible assets. Management makes these estimates using the best information available at the time the estimates are made; however
actual results could differ from those estimates. (c) Economic, pandemic, and Political Risks All the Company’s revenue-generating
operations are conducted in the PRC. Accordingly, the Company’s business, financial condition and results of operations may
be influenced by the political, economic, public health, and legal environments in the PRC, and by the general state of the PRC
economy. The Company’s operations in the PRC are subject to special considerations and significant risks that are not typically
pertaining to the companies in North America and Western Europe. These include risks associated with, among others, the political,
economic, public health, and legal environments and foreign currency exchange. The Company’s financial results may be adversely
affected by changes in the political, public health, and social conditions in the PRC, and by changes in governmental policies
with respect to laws and regulations, fiscal and monetary policies, anti-inflationary measures, currency conversion, remittances
abroad, and rates and methods of taxation. (d) Cash and Cash Equivalents The Company considers all highly liquid investments
purchased and cash deposits with financial institutions with original maturities of three months or less to be cash equivalents.
The Company had no cash equivalents as of December 31, 2019 or 2018. The Company maintains its cash accounts at
credit worthy financial institutions and closely monitors the movements of its cash positions. As of December 31, 2019 and 2018,
approximately $1.5 million and $1.6 million of cash, respectively, was held in bank accounts in the PRC. (e) Accounts Receivable, Accounts Receivable
–related parties, and Concentration of Risk Accounts receivable are recognized and carried
at invoiced amount less an allowance for any uncollectible accounts, if any. The Company maintains an allowance for doubtful accounts
for estimated losses resulting from the inability of its customers to make required payments. The Company reviews the collectability
of its receivables on a regular and ongoing basis. After all attempts to collect a receivable have failed, the receivable is written
off against the allowance. The Company evaluates the creditworthiness
of all of its customers individually before accepting them and continuously monitors the recoverability of accounts receivable.
If there are any indicators that a customer may not make payment, the Company may consider making provision for non-collectability
for that particular customer. At the same time, the Company may cease further sales or services to such customer. The following
are some of the factors that the Company considers in determining whether to discontinue sales or record an allowance:
● the customer fails to comply with its payment schedule;
● the customer is in serious financial difficulty;
● a significant dispute with the customer has occurred regarding job progress or other matters;
● the customer breaches any of the contractual obligations;
● the customer appears to be financially distressed due to economic or legal factors;
● the business between the customer and the Company is not active; and
● other objective evidence indicates non-collectability of the accounts receivable. The Company considers the following factors
when determining whether to permit a longer payment period or provide other concessions to customers:
● the customer’s past payment history;
● the customer’s general risk profile, including factors such as the customer’s size, age, and public or private status;
● macroeconomic conditions that may affect a customer’s ability to pay; and
● the relative importance of the customer relationship to the Company’s business. Since May 2017, the Company entered into a
series of contracts with Shenzhen Taoping New Media, Co., Ltd. (“Shenzhen Taoping”) and its affiliates for the sale
of the Company’s Cloud-Application-Terminal based digital ads display terminals, software and technical services. Shenzhen
Taoping is a company controlled by Mr. Jianghuai Lin, the Chief Executive Officer of the Company. Accounts receivable as at December 31, 2019
and 2018 are as follows:
December 31, 2019 December 31, 2018
Accounts Receivable $ 9,611,788 $ 11,437,581
Allowance for doubtful accounts (4,685,707 ) (3,441,650 )
Accounts Receivable, net $ 4,926,081 $ 7,995,931
Accounts Receivable - related parties $ 10,862,238 $ 9,787,645
Allowance for doubtful accounts (2,128,975 ) (242,192 )
Accounts Receivable - related parties, net $ 8,733,263 $ 9,545,453
Non-current Accounts Receivable $ 1,804,189 $ 1,078,777
Non-current Allowance for doubtful accounts (156,080 ) -
Non-current Accounts Receivable, net $ 1,648,109 $ 1,078,777
Non-current Accounts Receivable - related parties $ 4,035,831 $ -
Non-current Allowance for doubtful accounts - related parties (241,882 ) -
Non-current Accounts Receivable - related parties, net $ 3,793,949 $ - The allowance for doubtful accounts at December
31, 2019 and 2018, totaled approximately $7.2 million and $3.7 million, respectively, representing management’s best estimate.
The following table describes the movements in the allowance for doubtful accounts during the years ended December 31, 2019 and
2018.
Balance at January 1, 2018 $ 2,981,705
Increase in allowance for doubtful accounts 862,644
Foreign exchange difference (160,507 )
Balance at December 31, 2018 $ 3,683,842
Increase in allowance for doubtful accounts 3,576,669
Foreign exchange difference (47,867 )
Balance at December 31, 2019 $ 7,212,644 (f) Advances to Suppliers Advances to suppliers represent cash deposits
for the purchase of inventory items from suppliers. (g) Advances from Customers and Related Parties Advances from customers and related parties
represent cash received from customers and related parties as advance payments for the purchases of the Company’s products
and services. (h) Fair Value and Fair Value Measurement of
Financial Instruments Management has estimated that carrying amounts
reported in the consolidated balance sheets for cash, accounts receivable, accounts receivable – related party, advances
to suppliers, loan receivable - related party, other current assets, accounts payable, other payables and accrued expenses, income
taxes payable, convertible note payable, net, and due to related parties approximate their fair market value based on the short-term
maturity of these instruments. (i) Fair Value Accounting Financial Accounting Standards Board (FASB)
Accounting Standards Codifications (ASC) 820-10 “Fair Value Measurements and Disclosures”, establishes a fair value
hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority
to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority
to unobservable inputs (Level 3 measurements). As required by FASB ASC 820-10, assets are classified in their entirety based on
the lowest level of input that is significant to the fair value measurement. The three levels of the fair value hierarchy under
FASB ASC 820-10 are described below:
Level 1 Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities;
Level 2 Quoted prices in markets that are not active, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability; and
Level 3 Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity). The following tables present the fair value
hierarchy of those assets and liabilities measured at fair value: Recurring fair value measurements:
Fair Value Measurements Using
Quoted
Prices in
Active Total Gains
Markets Significant (Losses) for
for Other Significant the year
As of Identical Observable Unobservable ended
December 31, Liabilities Inputs Inputs December 31,
2017 (Level 1) (Level 2) (Level 3) 2017
Warrants liability $ - $ - $ - $ - $ 3,720
Total recurring fair value measurements $ 3,720 As of December 31, 2017, the Company measured
the fair value of its derivative liability related to warrants using a binomial or lattice model and Monte-Carlo Simulation for
warrants A. Series A warrants expired on May 26, 2018 without exercise. Series B warrants were fully exercised as of December 31,
2016. The following tables reflect the quantitative information about recurring Level 3 fair value measurements:
Series A Series B
Warrants Warrants
December 31, 2017
Annual volatility 56.13 % -
Risk-free rate 1.46 % -
Dividend rate 0.00 % -
Contractual term 0.4 years -
Closing price of ordinary shares $ 1.48 $ -
Conversion/exercise price $ 7.73 $ - The warrants liability is considered a Level
3 liability on the fair value hierarchy as the determination of fair values includes various assumptions about future activities,
stock price, and historical volatility inputs. Significant unobservable inputs for the Level 3 warrants liability include (1) the
estimated probability of the occurrence of a down round financing during the term over which the related warrants are exercisable,
(2) the estimated magnitude of the down round, and (3) the estimated magnitude of any net cash fractional share settlement. Significant
increases or decreases in any of those inputs in isolation would result in a significantly different fair value measurement. The table below reflects the components effecting
the change in fair value for the year ended December 31, 2017:
Level 3 Liabilities
For the Year Ended December 31, 2017
January 1, Change in Fair December 31,
2017 Settlements Value 2017
Warrants liability (see Note 14) $ 3,720 $ - $ (3,720 ) $ - (j) Inventories Inventories are valued at the lower of cost
and net realizable value. Net realizable value is the expected selling price in the ordinary course of business minus any costs
of completion, disposal, and transportation to make the sale. The Company performs an analysis of slow-moving
or obsolete inventory periodically and any necessary valuation reserves, which could potentially be significant, are included in
the period in which the evaluations are completed. Any inventory impairment results in a new cost basis for accounting purposes. (k) Property, plant and equipment Property, plant and equipment are stated at
cost less accumulated amortization and depreciation. Amortization and depreciation is provided over the assets’ estimated
useful lives, using the straight-line method. Estimated useful lives of property, plant and equipment are as follows:
Office buildings 20-50 years
Plant and machinery 3-20 years
Electronics equipment, furniture and fixtures 3-5 years
Motor vehicles 5 years
Purchased software 5 years Maintenance and repairs costs are expensed
as incurred, whereas significant renewals and betterments are capitalized. (l) Intangible assets Intangible assets represent technology, and
software development costs and trademarks capitalized by the Company’s subsidiaries. Intangible assets are stated at acquisition
fair value or cost less accumulated amortization, and amortized using the straight-line method over the following estimated useful
lives:
Software development costs 3-5 years
Trademarks 5 years (m) Convertible promissory note The Company determines the appropriate accounting
treatment of its convertible debts in accordance with the terms in relation to conversion features. After considering the impact
of such features, the Company may account for such instrument as a liability in its entirety, or separate the instrument into debt
and equity components following the guidance described under ASC 815 Derivatives and Hedging and ASC 470 Debt. The debt discount,
if any, together with related issuance cost are subsequently amortized as interest expense over the period from the issuance date
to the earliest conversion date or stated redemption date .The Company presented the issuance cost of debt in the balance sheet
as a direct deduction from the related debt. (n) Impairment of Long-Lived Assets Long-lived assets held and used by the Company
are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of assets may not be
recoverable. It is reasonably possible that these assets could become impaired as a result of technology or other industry changes.
Recoverability of assets to be held and used is determined by comparing their carrying amount with their expected future net undiscounted
future cash flows from the assets. If such assets are considered to be impaired, the impairment to be recognized is measured by
how much the carrying amount exceeds the fair value of the assets. There were no impairment charges for the years ended December
31, 2019, 2018 and 2017. Assets held for disposal, if any, are reported at the lower of the carrying amount or fair value less
costs to sell. (o) Derivative liability - Warrants The classification of derivative instruments,
including whether such instruments should be recorded as liabilities or as equity, is determined and re-assessed at the end of
each reporting period, in accordance with FASB ASC Topic 815, “Derivatives and Hedging”. This guidance affects the
accounting for warrants issued acquiring the Company’s ordinary shares that contain provisions to protect warrant holders
from a decline in the stock price, referred to as down-round protection. Down-round provisions reduce the exercise price of a warrant,
if the company either issues equity shares for a price that is lower than the exercise price of the warrants, or issues convertible
instruments with a conversion price per equity share that is less than the exercise price of the warrants, or issues new warrants
or options that have a lower exercise price. For derivative financial instruments that are accounted for as liabilities, the derivative
instrument is initially recorded at its fair value and is then re-valued at each reporting date, with changes in the fair value
charged to earning or loss. The Company generally uses a binomial or lattice model and Monte-Carlo simulation to value the warrants
at inception and subsequent valuation dates. Derivative instrument liabilities are classified in the balance sheet as current or
non-current based on whether or not net-cash settlement of the derivative instrument could be required within 12 months of the
balance sheet date. (p) Revenue Recognition Beginning January 1, 2018, the Company has
adopted the ASU 2014-09, Topic 606, “Revenue from Contracts with Customers” and its related amendments (collectively
referred to as “ASC 606”) for its new revenue recognition accounting policy that depicts the transfer of promised goods
or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for
those goods or services. The adoption of the new revenue recognition standard has no material impact on the Company’s consolidated
financial statements for any periods prior to 2018. Therefore prior period amounts are not adjusted. The Company generates its revenues primarily
from three sources: (1) hardware sales, (2) software sales, and (3) system integration. Revenue is recognized when obligations
under the terms of a contract with our customers are satisfied; and generally occurs upon delivery of the goods and services. Hardware Sales Hardware revenues are generated primarily from
the sale of Cloud-Application-Terminal based digital ads display terminals with integrated software essential to the functionality
of the hardware to our customers (inclusive of related parties). Although manufacturing of the hardware has been outsourced to
the Company’s Original Equipment Manufacturer (OEM) suppliers, the Company has acted as the principal of the contract. The
Company recognized the hardware sales at the point of delivery. The Company has indicated that it may from time to time provide
future unspecified software upgrades to the hardware products’ essential software, which is expected to be infrequent and,
free of charge. Non-software service is mainly the one-time training session provided to the customer to familiarize them with
the software operation upon the customer’s initial introduction to the software platform. The costs of providing infrequent
software upgrade and training provided to the customer for familiarizing the software operations are de minimis. As a result, the
Company does not allocate transaction price to software upgrade and customer training. Hardware sales are classified as “Revenue-Products”
on the Company’s consolidated statements of operations. Software Sales Customers in the private sector contract the
Company to design and develop software products specifically customized for their needs for a fixed price. Software development
projects usually include developing software, integrating various isolated software systems into one, and testing the system. The
design and build services, together with the integration of the various elements, are generally determined to be essential to the
functionality of the delivered software. The contracted price is usually paid in installments based on progression of the project
or at the delivery of the software. The Company usually provides non-software services including after-sale support, technical
training. The technical training only occurs at the introduction of the software. The software is highly specialized and stable,
after-sale support and subsequent upgrade or enhancement are infrequent. The Company has estimated the costs associated with the
non-software performance obligations and concludes that these obligations are de minimis to the overall contract. Therefore, the
Company does not further allocate transaction price. The Company usually completes the customized
software contracts less than 12 months and recognizes the revenue at the point of delivery because the Company does not have an
enforceable right to payment for performance completed to date. Revenues from software development contracts are classified as
“Revenue-Software” on the Company’s consolidated statements of operations. System Integration Services System integration revenues are generated from
fixed-price contracts which combine both customized software development and integration, and non-customized hardware. System integration
projects usually include the purchase of hardware, software development, and integration of various systems into one, and test
of the system. Customers are billed in accordance with contract terms, which typically require a partial payment at the signing
of the contract, partial payment upon delivery and customer acceptance, with the remainder due within a stated period of time not
exceeding 12 months. As a result of the Company’s business
transformation from a traditional IT business solution provider to a provider of integrated Cloud-Application-Terminal based products
and services, system integration services have been phased out. The System Integration Service revenue was approximately $390,000
for the year ended December 31, 2017 and was zero in 2018 and 2019. The adoption of ASC 606 has no impact on the System Integration
Service revenue. Other Revenue The Company also reports other revenue which
comprises revenue generates from other hardware maintenance services, network maintenance services, rental income, and miscellaneous
income. On January 1, 2019, the Company adopted ASC
842 – Leases that requires lessor to identify the underlying assets and allocate rental income among considerations in lease
and non-lease components. The adoption of the new lease accounting standard has no material impact on the Company’s consolidated
financial statements for any periods prior to 2019. Therefore, prior period amounts are not adjusted. The Company owns two units
of office space renting out to a third party and a related party under non-cancelable operating lease agreements with lease terms
of six years starting from May 1, 2016 and three years starting from July 1, 2019, respectively. The lease agreements have fixed
monthly rental payments, and no non-lease component or option for lessees to purchase the underlying assets. The Company collects
monthly rental payments from the lessees, and has generated approximately $424,000 and $350,000 rental income for the periods ended
December 31, 2019, and 2018, respectively. Annual minimum lease payments to be received
in the next 5 years:
2020 451,294
2021 470,764
2022 169,435
Total 1,091,493 Excluding rental income, revenue is recognized
when performance obligations are satisfied upon competition of the services. Contract balances The Company records advances from customers
when cash payments are received or due in advance of our performance. For the year ended December 31, 2019, 2018 and 2017, the
Company recognized revenue of $335,000, $1,290,000 and $1,430,000, respectively, that was included in the advances from customers
balance at the beginning of each reporting period. Practical expedients and exemptions The Company generally expenses sales commissions
if any incurred because the amortization period would have been one year or less. In many cases, the Company is approached by customers
for customizing software products for their specific needs without incurring significant selling expenses. The Company does not disclose the value of
unsatisfied performance obligations for contracts with an original expected length of one year or less. (q) Treasury Stock The Company repurchases its ordinary shares
from time to time in the open market and holds such shares as treasury stock. The Company applies the “cost method”
and presents the cost to repurchase such shares as a reduction in equity. (r) Stock-based compensation The Company applies ASC No. 718, “Compensation-Stock
Compensation”, which requires that share-based payment transactions with employees, such as share options, be measured based
on the grant date fair value of the equity instrument and recognized as compensation expense over the requisite service period,
with a corresponding addition to equity. Under this method, compensation cost related to employee share options or similar equity
instruments is measured at the grant date based on the fair value of the award and is recognized over the period during which an
employee is required to provide service in exchange for the award, which generally is the vesting period. The Company adopted ASU 2018-07, Compensation-Stock
Compensation (Topic: 718): Improvements to Nonemployee Share-Based Payment Accounting on January 1, 2019, to account for stock-based
compensation to goods and services provided by the third parties. The fair value of the equity awards to nonemployee are measured
on the grant day. Under this guidance, compensation cost related to nonemployee share options or similar equity instruments is
recognized in the same period and in the same manner (i.e. capitalize or expense) the entity would if it paid cash for the goods
or services. The Company’s adoption of ASU 2018-07
has no material impact to the Company’s consolidated financial statements, nor requirement for cumulative adjustment in retained
earnings or other components of equity or net assets. During the year ended December 31, 2019, 2018,
and 2017, the Company recognized approximately $580,000, $629,000 and $583,000, respectively, of stock-based compensation expense. (s) Foreign Currency Translation The functional currency of the US and BVI companies
is the United States dollar. The functional currency of the Company’s Hong Kong subsidiaries is the Hong Kong dollar. The functional currency of the Company’s
wholly-owned PRC subsidiaries and its VIE is the Chinese Renminbi Yuan, (“RMB”). RMB is not freely convertible into
foreign currencies. The Company’s PRC subsidiaries’ and their VIE’s financial statements are maintained in the
functional currency. Monetary assets and liabilities denominated in currencies other than the functional currency are translated
into the functional currency at rates of exchange prevailing at the balance sheet date. Transactions denominated in currencies
other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of
the transactions. Exchange gains or losses arising from foreign currency transactions are included in the determination of net
loss for the respective periods. For financial reporting purposes, the financial
statements of the Company have been translated into United States dollars. Assets and liabilities are translated at exchange rates
at the balance sheet dates, revenue and expenses are translated at average exchange rates, and equity is translated at historical
exchange rates. Any resulting translation adjustments are not included in determining net income but are included in other comprehensive
loss, a component of equity. The exchange rates adopted are as follows:
December 31, 2019 December 31, 2018
Year-end RMB to US$ exchange rate 6.9692 6.8787
Average yearly RMB to US$ exchange rate 6.9072 6.6079 The average yearly RMB to US$ exchange rate
adopted for the year ended December 31, 2017 was 6.7561. No representation is made that the RMB amounts
could have been, or could be, converted into United States dollars at the rates used in translation. (t) Research & Development Expenses The Company follows the guidance in FASB ASC
985-20, Cost of Software to Be Sold, Leased or Marketed, regarding software development costs to be sold, leased, or otherwise
marketed. FASB ASC 985-20-25 requires research and development
costs for software development to be expensed as incurred until the software model is technologically feasible. Technological feasibility
is established when the enterprise has completed all planning, designing, coding, testing, and identification of risks activities
necessary to establish that the product can be produced to meet its design specifications, features, functions, technical performance
requirements. A certain amount of judgment and estimation is required to assess when technological feasibility is established,
as well as the ongoing assessment of the recoverability of capitalized costs. The Company’s products reach technological
feasibility shortly before the products are released and sold to the public. Therefore research and development costs are generally
expensed as incurred. (u) Subsidy Income Subsidy income mainly represents income received
from various local governmental agencies in China for developing high technology products in the fields designated by the government
as new and highly innovative. We have no continuing obligation under the subsidy provision. The Company recognizes subsidy income
upon receipt of official grant notice from local government authorities. (v) Sales, use, other value-added taxes, and
income taxes Revenue is recorded net of applicable sales,
use, and value-added taxes. Income taxes are provided on an asset and liability
approach for financial accounting and reporting of income taxes. Deferred income taxes are recognized for all significant temporary
differences at enacted rates and classified as non-current in the financial statements. A valuation allowance is provided to reduce
the amount of deferred tax assets if it is considered more likely than not that some portion, or all of, the deferred tax assets
will not be realized. The Company classifies interest and/or penalties related to unrecognized tax benefits, if any, as a component
of income tax expense. The Company applies the provisions of ASC No.
740 “Income Taxes” (“ASC 740”), which clarifies the accounting for uncertainty in income taxes recognized
by prescribing a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax
position taken or expected to be taken in a tax return. ASC 740 also provides accounting guidance on de-recognition, classification,
interest and penalties, and disclosure. (w) Discontinued Operations The Company follows “ASU 2014-08, Presentation
of Financial Statements (Topic 205) and Property, Plant and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures
of Disposals of Components of an Entity” for reporting discontinued operations. Under the revised standard, a discontinued
operation must represent a strategic shift that has or will have a major effect on an entity’s operations and financial results.
Examples could include a disposal of a major line of business, a major geographical area, a major equity method investment, or
other major parts of an entity. The revised standard also allows an entity to have certain continuing cash flows or involvement
with the component after the disposal. Additionally, the standard requires expanded disclosures about discontinued operations that
will provide financial statement users with more information about the assets, liabilities, income, and expenses of discontinued
operations. (x) Segment reporting Segment information is consistent with how
management reviews the businesses, makes investing and resource allocation decisions and assesses operating performance. Transfers
and sales between reportable segments, if any, are recorded at cost. The Company reports financial and operating
information in the following two segments:
(a) Cloud-based Technology (CBT) segment — The CBT segment is the Company’s current and future focus for corporate development. It includes the Company’s cloud-based products and services sold to private sectors including new media, healthcare, education, and residential community management. In this segment, the Company generates revenues from the sales of hardware and software total solutions with proprietary software and content as well as from designing and developing software products specifically customized for private sector customers’ needs for a fixed price.
(b) Traditional Information Technology (TIT) segment —The TIT segment includes the Company’s project-based technology products and services sold to the public sector. The solutions the Company has sold primarily include Geographic Information Systems (GIS), Digital Public Security Technology (DPST), and Digital Hospital Information Systems (DHIS). In this segment, the Company generates revenues from sales of hardware and system integration services. (y) Reclassifications Certain prior period amounts have been reclassified
to be comparable to the current period presentation. This reclassification has no effect on previously reported net assets or net
income (loss). (z) Recent Accounting Pronouncements In June 2016, the FASB issued ASU No. 2016-13,
Financial Instruments-Credit Losses (Topic 326). This new standard changes the impairment model for most financial assets and certain
other instruments. Entities will be required to use a model that will result in the earlier recognition of allowances for losses
for trade and other receivables, held-to-maturity debt securities, loans, and other instruments. For available-for-sale debt securities
with unrealized losses, the losses will be recognized as allowances rather than as reductions in the amortized cost of the securities.
The new standard is effective for annual periods, and for interim periods within those annual periods, beginning after December
15, 2019, with early adoption permitted. We are assessing the impact on our future consolidated |
