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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Aehr Test Systems | NASDAQ:AEHR | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.633 | 5.68% | 11.773 | 11.55 | 11.77 | 11.88 | 11.19 | 11.22 | 548,395 | 01:00:00 |
California
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94-2424084
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(State or other
jurisdiction of incorporation or organization)
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|
(I.R.S. Employer
Identification No.)
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400 Kato
Terrace
Fremont,
CA
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94539
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(Address of
principal executive offices)
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(Zip
Code)
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Large accelerated
filer ☐
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Accelerated filer
☐
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Non-accelerated
filer ☒
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Smaller reporting
company ☒
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|
Emerging growth
company ☐
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Title of each class
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Trading
Symbol(s)
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Name of each exchange on which registered
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Common Stock
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AEHR
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The NASDAQ Capital Market
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August 31,
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May 31,
|
|
2019
|
2019
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|
(1)
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ASSETS
|
|
|
Current
assets:
|
|
|
Cash
and cash equivalents
|
$5,266
|
$5,428
|
Accounts
receivable, net
|
3,287
|
4,859
|
Inventories
|
9,217
|
9,061
|
Prepaid
expenses and other current assets
|
523
|
686
|
|
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|
Total
current assets
|
18,293
|
20,034
|
|
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|
Property
and equipment, net
|
1,000
|
1,045
|
Operating
lease right-of-use assets
|
2,533
|
--
|
Other
assets
|
199
|
228
|
|
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|
Total
assets
|
$22,025
|
$21,307
|
|
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|
LIABILITIES
AND SHAREHOLDERS' EQUITY
|
|
|
Current
liabilities:
|
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|
Accounts
payable
|
$1,742
|
$1,933
|
Accrued
expenses
|
1,577
|
2,034
|
Operating
lease liabilities, short-term
|
606
|
--
|
Customer
deposits and deferred revenue, short-term
|
615
|
1,545
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|
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|
Total
current liabilities
|
4,540
|
5,512
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|
Operating
lease liabilities, long-term
|
2,086
|
--
|
Deferred
rent
|
--
|
153
|
Deferred
revenue, long-term
|
113
|
189
|
|
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|
Total
liabilities
|
6,739
|
5,854
|
|
|
|
Aehr
Test Systems shareholders' equity:
|
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|
Common
stock, $0.01 par value:
Authorized:
75,000;
|
|
|
Issued
and outstanding: 22,721 shares and 22,669
shares at August 31, 2019 and May 31, 2019,
respectively
|
227
|
227
|
Additional
paid-in capital
|
84,760
|
84,499
|
Accumulated
other comprehensive income
|
2,216
|
2,230
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Accumulated
deficit
|
(71,897)
|
(71,484)
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|
Total
Aehr Test Systems shareholders' equity
|
15,306
|
15,472
|
Noncontrolling
interest
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(20)
|
(19)
|
|
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|
Total
shareholders' equity
|
15,286
|
15,453
|
|
|
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Total
liabilities and shareholders' equity
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$22,025
|
$21,307
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Total
Aehr
|
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Accumulated
|
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Test
|
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Additional
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Other
|
|
Systems
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Total
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Common
Stock
|
Paid-in
|
Comprehensive
|
Accumulated
|
Shareholders’
|
Noncontrolling
|
Shareholders'
|
|
Three
Months Ended August 31, 2019
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Shares
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Amount
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Capital
|
Income
|
Deficit
|
Equity
|
Interest
|
Equity
|
Balances,
May 31, 2019
|
22,669
|
$227
|
$84,499
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$2,230
|
$(71,484)
|
$15,472
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$(19)
|
$15,453
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Issuance of common stock under employee
plans
|
52
|
--
|
62
|
--
|
--
|
62
|
--
|
62
|
Stock-based
compensation
|
--
|
--
|
199
|
--
|
--
|
199
|
--
|
199
|
Net
loss
|
--
|
--
|
--
|
--
|
(413)
|
(413)
|
--
|
(413)
|
Foreign currency translation
adjustment
|
--
|
--
|
--
|
(14)
|
--
|
(14)
|
(1)
|
(15)
|
|
|
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|
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Balances,
August 31, 2019
|
22,721
|
$227
|
$84,760
|
$2,216
|
$(71,897)
|
$15,306
|
$(20)
|
$15,286
|
|
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Total
Aehr
|
|
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Accumulated
|
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Test
|
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Additional
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Other
|
|
Systems
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Total
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Common
Stock
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Paid-in
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Comprehensive
|
Accumulated
|
Shareholders’
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Noncontrolling
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Shareholders'
|
|
Three
Months Ended August 31, 2018
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Shares
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Amount
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Capital
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Income
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Deficit
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Equity
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Interest
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Equity
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Balances,
May 31, 2018
|
22,143
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$221
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$83,041
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$2,292
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$(66,249)
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$19,305
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$(20)
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$19,285
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Issuance of common stock under employee
plans
|
102
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1
|
108
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--
|
--
|
109
|
--
|
109
|
Stock-based
compensation
|
--
|
--
|
256
|
--
|
--
|
256
|
--
|
256
|
Net
loss
|
--
|
--
|
--
|
--
|
(1,515)
|
(1,515)
|
--
|
(1,515)
|
Foreign currency translation
adjustment
|
--
|
--
|
--
|
(16)
|
--
|
(16)
|
1
|
(15)
|
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Balances,
August 31, 2018
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22,245
|
$222
|
$83,405
|
$2,276
|
$(67,764)
|
$18,139
|
$(19)
|
$18,120
|
|
Three Months Ended
|
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|
August 31,
|
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|
2019
|
2018
|
Geographic
region:
|
|
|
United
States
|
$5,057
|
$2,695
|
Asia
|
338
|
1,734
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Europe
|
138
|
311
|
|
$5,533
|
$4,740
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Three Months Ended
|
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August 31,
|
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2019
|
2018
|
Timing
of revenue recognition:
|
|
|
Products and services transferred at a point in
time
|
$4,859
|
$4,118
|
Services
transferred over time
|
674
|
622
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$5,533
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$4,740
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Balance as of
|
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August 31, 2019
|
Level 1
|
Level 2
|
Level 3
|
Money
market funds
|
$2,029
|
$2,029
|
$--
|
$--
|
Assets
|
$2,029
|
$2,029
|
$--
|
$--
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Balance as of
May 31, 2019
|
Level 1
|
Level 2
|
Level 3
|
Money
market funds
|
$3,017
|
$3,017
|
$--
|
$--
|
Assets
|
$3,017
|
$3,017
|
$--
|
$--
|
|
August 31,
|
May 31,
|
|
2019
|
2019
|
Raw
materials and sub-assemblies
|
$6,499
|
$5,471
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Work
in process
|
2,667
|
3,580
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Finished
goods
|
51
|
10
|
|
$9,217
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$9,061
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|
August 31,
|
May 31,
|
|
2019
|
2019
|
Customer
deposits
|
$182
|
$1,003
|
Deferred
revenue
|
433
|
542
|
|
$615
|
$1,545
|
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Three Months Ended August 31, 2019
|
Cash
paid for amounts included in the measurement of operating lease
liabilities:
|
|
Operating
cash flows from operating leases
|
$182
|
Fiscal year
|
Operating Leases
|
2020
(excluding the first three months of 2020)
|
$551
|
2021
|
754
|
2022
|
772
|
2023
|
795
|
2024
|
132
|
Thereafter
|
--
|
Total
future minimum operating lease payments
|
$3,004
|
Less:
imputed interest
|
312
|
Present
value of operating lease liabilities
|
$2,692
|
|
Three Months
Ended
|
|
|
August
31,
|
|
|
2019
|
2018
|
|
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|
Expected
term (in years)
|
5
|
5
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Volatility
|
0.71
|
0.74
|
Risk-free
interest rate
|
1.88%
|
2.75%
|
Weighted
average grant date fair value
|
$0.97
|
$1.48
|
|
Available
|
|
Shares
|
Balance,
May 31, 2019
|
1,147
|
|
|
Options
granted
|
(527)
|
Shares
cancelled
|
151
|
Shares
expired
|
(119)
|
|
|
Balance,
August 31, 2019
|
652
|
|
Outstanding Options
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||
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Weighted
|
|
|
Number
|
Average
|
Aggregate
|
|
of
|
Exercise
|
Intrinsic
|
|
Shares
|
Price
|
Value
|
Balances,
May 31, 2019
|
3,107
|
$2.20
|
$282
|
|
|
|
|
Options
granted
|
527
|
$1.64
|
|
Options
cancelled
|
(151)
|
$1.50
|
|
Options
exercised
|
(49)
|
$1.27
|
|
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Balances,
August 31, 2019
|
3,434
|
$2.16
|
$41
|
|
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Options fully vested and expected to vest at August 31,
2019
|
3,397
|
$2.16
|
$41
|
|
Options
Outstanding
|
Options
Exercisable
|
|||||
|
at August 31,
2019
|
at August 31,
2019
|
|||||
Range of
Exercise
Prices
|
Number
Outstanding Shares
|
Weighted Average
Remaining Contractual Life (Years)
|
Weighted Average
Exercise Price
|
Number
Exercisable Shares
|
Weighted Average
Remaining Contractual Life (Years)
|
Weighted Average
Exercise Price
|
Aggregate
Intrinsic Value
|
$0.80-$0.97
|
47
|
0.26
|
$0.85
|
47
|
0.26
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$0.85
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$1.09-$1.28
|
301
|
0.82
|
$1.28
|
301
|
0.82
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$1.28
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|
$1.64-$2.06
|
1,261
|
5.34
|
$1.76
|
483
|
3.54
|
$1.80
|
|
$2.10-$2.81
|
1,584
|
3.30
|
$2.43
|
1,263
|
2.63
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$2.44
|
|
$3.46-$3.93
|
241
|
4.91
|
$3.85
|
151
|
4.94
|
$3.80
|
|
$0.80-$3.93
|
3,434
|
3.90
|
$2.16
|
2,245
|
2.69
|
$2.20
|
$41
|
|
August 31,
|
May 31,
|
|
2019
|
2019
|
United
States
|
$961
|
$1,005
|
Asia
|
39
|
40
|
Europe
|
--
|
--
|
|
$1,000
|
$1,045
|
Exhibit No.
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|
Description
|
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3.2(1)
|
|
Amended and Restated Bylaws of the Registrant.
|
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|
|
|
Certification
of Chief Executive Officer pursuant to Rules 13a-14(a) and
15d-14(a) promulgated under the Securities Exchange Act of 1934, as
amended, as adopted pursuant to Section 302(a) of the
Sarbanes-Oxley Act of 2002.
|
|
|
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Certification
of Chief Financial Officer pursuant to Rules 13a-14(a) and
15d-14(a) promulgated under the Securities Exchange Act of 1934, as
amended, as adopted pursuant to Section 302(a) of the
Sarbanes-Oxley Act of 2002.
|
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Certification
of Chief Executive Officer and Chief Financial Officer pursuant to
18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the
Sarbanes-Oxley Act of 2002.*
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101.INS
|
|
XBRL
Instance Document
|
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101.SCH
|
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XBRL
Taxonomy Extension Schema Document
|
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101.CAL
|
|
XBRL
Taxonomy Extension Calculation Linkbase Document
|
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101.DEF
|
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XBRL
Taxonomy Extension Definition Linkbase Document
|
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101.LAB
|
|
XBRL
Taxonomy Extension Label Linkbase Document
|
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|
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101.PRE
|
|
XBRL
Taxonomy Extension Presentation Linkbase Document
|
|
Aehr Test
Systems
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(Registrant)
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Date: October 14,
2019
|
By:
|
/s/ GAYN
ERICKSON
|
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Gayn
Erickson
|
|
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President and Chief
Executive Officer
|
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|
|
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Date: October 14,
2019
|
By:
|
/s/ KENNETH B.
SPINK
|
|
|
|
Kenneth B.
Spink
|
|
|
|
Vice President of
Finance and Chief Financial Officer
|
|
1 Year Aehr Test Systems Chart |
1 Month Aehr Test Systems Chart |
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