)250 12 02'(/ 12 83 23(5$725 6 0$18$/ µ 527$5< &877,1* '(&. )RU *URXQGVPDVWHU 7UDFWLRQ 8QLW 7R DVVXUH PD[LPXP VDIHW\ RSWLPXP SHUIRUPDQFH DQG WR JDLQ NQRZOHGJH RI WKH SURGXFW LW LV HVVHQWLDO WKDW \RX RU DQ\ RWKHU RSHUDWRU RI WKH PDFKLQH UHDG DQG XQGHUVWDQG WKH FRQWHQWV RI WKLV PDQXDO EHIRUH WKH HQJLQH LV HYHU VWDUWHG 3D\ SDUWLFXODU DWWHQWLRQ WR WKH 6$)(7< ,16758&7,216 KLJKOLJKWHG E\ WKLV V\PERO 7KH *URXQGVPDVWHU 7UDFWLRQ XQLW ZLWK l 5RWDU\ &XWWLQJ GHFNV
)25(:25' 7KH l 5RWDU\ &XWWLQJ 'HFN KDV DGYDQFHG FRQFHSWV LQ HQJLQHHULQJ GHVLJQ DQG VDIHW\ DQG LI PDLQWDLQHG SURSHUO\ ZLOO JLYH H[FHOOHQW VHUYLFH 6LQFH WKLV LV D KLJK TXDOLW\ SURGXFW 7RUR LV FRQFHUQHG DERXW WKH IXWXUH XVH RI WKH PDFKLQH DQG VDIHW\ RI WKH XVHU 7KHUHIRUH UHDG WKLV PDQXDO WR IDPLOLDUL]H \RXUVHOI ZLWK SURSHU VHW XS RSHUDWLRQ DQG PDLQWHQDQFH LQVWUXFWLRQV 7KH PDMRU VHFWLRQV RI WKH PDQXDO DUH 6DIHW\ ,QVWUXFWLRQV 6HW XS ,QVWUXFWLRQV %HIRUH 2SHUDWLQJ 2SHUDWLRQ /XEUL
6$)(7< ,16758&7,216 7KH *URXQGVPDVWHU ' ZLWK l 5RWDU\ &XWWLQJ 'HFNV LQVWDOOHG ZDV WHVWHG DQG FHUWLILHG E\ 7252 IRU FRPSOLDQFH ZLWK WKH % VSHFLILFDWLRQV RI WKH $PHULFDQ 1DWLRQDO 6WDQGDUGV ,QVWLWXWH $OWKRXJK KD]DUG FRQWURO DQG DFFLGHQW SUHYHQWLRQ SDUWLDOO\ DUH GHSHQGHQW XSRQ WKH GHVLJQ DQG FRQILJXUDWLRQ RI WKH PDFKLQH WKHVH IDFWRUV DUH DOVR GHSHQGHQW XSRQ WKH DZDUHQHVV FRQFHUQ DQG SURSHU WUDLQLQJ RI WKH SHUVRQQHO LQYROYHG LQ WKH RSHUDWLRQ WUDQVSRUW PDLQWHQDQFH DQG VWRUDJH RI WKH PDFKL
6$)(7< ,16758&7,216 :KHQ VWDUWLQJ WKH HQJLQH $ (QJDJH SDUNLQJ EUDNH % %H VXUH WUDFWLRQ SHGDO LV LQ QHXWUDO DQG EODGH GULYH LV LQ GLVHQJDJH SRVLWLRQ & $IWHU HQJLQH VWDUWV UHOHDVH SDUNLQJ EUDNH DQG NHHS IRRW RII WUDFWLRQ SHGDO 0DFKLQH PXVW QRW PRYH ,I PRYHPHQW LV HYLGHQW WKH QHXWUDO FRQWURO OLQNDJH LV LQFRUUHFWO\ DGMXVWHG WKHUHIRUH VKXW HQJLQH RII DQG DGMXVW XQWLO PDFKLQH GRHV QRW PRYH ZKHQ WUDFWLRQ SHGDO LV UHOHDVHG 5HIHU WR $GMXVWLQJ 7UDQVPLVVLRQ IRU 1HXWUDO 7KLV SURGXFW PD\ H[FHHG QRL
6$)(7< $1' ,16758&7,21 '(&$/6 7KH IROORZLQJ GHFDOV DUH LQVWDOOHG RQ WKH FXWWLQJ GHFN ,I DQ\ EHFRPH GDPDJHG RU LOOHJLEOH UHSODFH LW 7KH GHFDO SDUW QXPEHU LV OLVWHG EHORZ DQG LQ \RXU SDUWV FDWDORJ 5HSODFHPHQWV FDQ EH RUGHUHG IURP \RXU $XWKRUL]HG 7RUR 'LVWULEXWRU IW OE 21 723 2) &+$0%(5 3DUW 1R 21 723 2) &+$0%(5 3DUW 1R 3DUW 1R IRU &( 21 723 2) &+$0%(5 3DUW 1R
3(&,),&$7,216 &KDPEHU &RQVWUXFWLRQ :HOGHG *$ LQ DQG *$ LQ VWHHO 6SLQGOH VXSSRUW LV LQ KLJK VWUHQJWK VWHHO DQG *$ H[WHULRU FKDQQHOV ZLWKVWDQGV PXOWLSOH EODGH LPSDFW WHVWV 'HFN IUDPH LV ZHOGHG LQ VTXDUH WXELQJ DQG *$ LQ VLGH VXSSRUWV SURWHFWV FKDPEHU ZLWKVWDQGV FROOLVLRQV %ODGH +HDW WUHDWHG VWHHO )URQW 5ROOHUV 7ZR LQ FP GLDPHWHU GXFWLOH LURQ Z KROORZ FRUH VHDOHG EHDULQJV FORVH ORFDWLRQ WR EODGH 5HDU 5ROOHU 2QH LQ FP GLDPHWHU VWHHO
%()25( 23(5$7,1* &$87,21 7R SUHYHQW DFFLGHQWDO VWDUWLQJ RI WKH HQJLQH ZKLOH SHUIRUPLQJ PDLQWHQDQFH VKXW HQJLQH RII DQG UHPRYH NH\ IURP LJQLWLRQ VZLWFK $'-867 +(,*+7 2) &87 )LJ ,03257$17 7KLV FXWWLQJ GHFN RIWHQ FXWV DSSUR[LPDWHO\ LQFK ORZHU WKDQ D UHHO FXWWLQJ XQLW ZLWK WKH VDPH EHQFK VHWWLQJ ,W PD\ EH QHFHVVDU\ WR KDYH WKHVH URWDU\ FXWWLQJ GHFN V EHQFK VHW LQFK DERYH WKDW RI UHHOV FXWWLQJ LQ WKH VDPH DUHD $'-867 &$55,(5 )5$0( )LJ /RZHU FXWWLQJ GHFN WR JURXQG VWRS HQJLQH DQG UH
%()25( 23(5$7,1* $'-867 52//(5 6&5$3(5 )LJ 7KH UHDU UROOHU VFUDSHU LV GHVLJQHG WR ZRUN EHVW ZKHQ WKHUH LV DQ HYHQ JDS RI LQFKHV EHWZHHQ WKH VFUDSHU VTXDUH URG DQG UROOHU ZLWK UHODWLYHO\ KLJK WHQVLRQ LQ WKH URG /RRVHQ ORFNQXW VHFXULQJ RQH HQG RI UROOHU VFUDSHU URG WR PRXQWLQJ EUDFNHW )LJ 7KHUH VKRXOG EH DSSUR[LPDWHO\ l HQG SOD\ LQ ORRVHQHG URG 127( ,I RQH VLGH RI VFUDSHU URG EHFRPHV ZRUQ LW FDQ EH URWDWHG LQ WKH PRXQWLQJ EUDFNHWV GHJUHHV IRU D QHZ HGJH ,167$/
23(5$7,1* ,16758&7,216 23(5$7,1* 7,36 02: :+(1 *5$66 ,6 '5< 0RZ HLWKHU LQ WKH ODWH PRUQLQJ WR DYRLG WKH GHZ ZKLFK FDXVHV JUDVV FOXPSLQJ RU LQ ODWH DIWHUQRRQ WR DYRLG WKH GDPDJH WKDW FDQ EH FDXVHG E\ GLUHFW VXQOLJKW RQ WKH VHQVLWLYH IUHVKO\ PRZHG JUDVV 6(/(&7 7+( 3523(5 +(,*+7 2) &87 6(77,1* 72 68,7 &21',7,216 5HPRYH DSSUR[LPDWHO\ RQH LQFK RU QR PRUH WKDQ RI WKH JUDVV EODGH ZKHQ FXWWLQJ ,Q H[FHSWLRQDOO\ OXVK DQG GHQVH JUDVV \RX PD\ KDYH WR UDLVH \RXU KHLJKW RI FXW VHWWLQJ DQRWKHU
/8%5,&$7,21 *5($6( %($5,1*6 )LJ (DFK FXWWLQJ GHFN KDV WZR JUHDVH ILWWLQJV SHU VSLQGOH (LWKHU ILWWLQJ FDQ EH XVHG ZKLFK HYHU LV PRUH DFFHVVLEOH ,I PDFKLQH LV RSHUDWHG XQGHU QRUPDO FRQGLWLRQV OXEULFDWH EODGH VSLQGOH EHDULQJV )LJ ZLWK 1R JHQHUDO SXUSRVH OLWKLXP EDVH JUHDVH RU PRO\EGHQXP EDVH JUHDVH DIWHU HYHU\ KRXUV RI RSHUDWLRQ 3XPS JUHDVH LQWR ILWWLQJ XQWLO D VPDOO DPRXQW DSSHDUV DW ERWWRP RI VSLQGOH KRXVLQJ XQGHU GHFN )LJXUH
0$,17(1$1&( &$87,21 7R SUHYHQW DFFLGHQWDO VWDUWLQJ RI WKH HQJLQH ZKLOH SHUIRUPLQJ PDLQWHQDQFH VKXW HQJLQH RII DQG UHPRYH NH\ IURP LJQLWLRQ VZLWFK &877,1* '(&. 6(59,&( /$7&+ )LJ :KHQ VHUYLFLQJ FXWWLQJ GHFN V XVH WKH VHUYLFH ODWFK WR SUHYHQW LQMXU\ &HQWHU FXWWLQJ GHFN VLGHZLQGHU ZLWK WKH WUDFWLRQ XQLW 5DLVH FXWWLQJ GHFNV WR WUDQVSRUW SRVLWLRQ )LJXUH 0RWRU PRXQWLQJ VFUHZV 6HW SDUNLQJ EUDNH DQG WXUQ RII PDFKLQH 5HOHDVH ODWFK URG IURP IURQW FDUULHU IUDPH UHWDLQHU 5HPR
0$,17(1$1&( %/$'( 3/$1( $'-867,1* %/$'( 3/$1( )LJ 7KH URWDU\ GHFN FRPHV IURP WKH IDFWRU\ SUHVHW DW LQFK KHLJKW RI FXW DQG EODGH UDNH RI LQFK 7KH /+ DQG 5+ KHLJKWV DUH DOVR SUHVHW WR ZLWKLQ LQFK RI WKH RWKHU 7KH FXWWLQJ GHFN LV GHVLJQHG WR ZLWKVWDQG EODGH LPSDFWV ZLWKRXW GHIRUPDWLRQ RI WKH FKDPEHU ,I D VROLG REMHFW LV VWUXFN LQVSHFW WKH EODGH IRU GDPDJH DQG EODGH SODQH IRU DFFXUDF\ ,163(&7,1* %/$'( 3/$1( )LJ 6WDUW ZLWK IURQW DGMXVWPHQW FKDQJH RQH EUDFNHW DW D WLPH 5HP
0$,17(1$1&( *UDVS HQG RI EODGH XVLQJ D UDJ RU WKLFNO\ SDGGHG JORYH 5HPRYH EODGH EROW DQWL VFDOS FXS DQG EODGH IURP VSLQGOH VKDIW )LJXUH %ODGH EROW $QWL 6FDOS &XS ,QVWDOO EODGH VDLO IDFLQJ WRZDUG FXWWLQJ GHFN ZLWK DQWL VFDOS FXS DQG EODGH EROW 7LJKWHQ EODGH EROW WR IW OE 1 P :$51,1* 'R QRW WU\ WR VWUDLJKWHQ D EODGH WKDW LV EHQW DQG QHYHU ZHOG D EURNHQ RU FUDFNHG EODGH $OZD\V XVH D QHZ EODGH WR DVVXUH FRQWLQXHG VDIHW\ FHUWLILFDWLRQ RI WKH SURGXFW
0$,17(1$1&( 7R YHULI\ WKLV VWRSSLQJ WLPH KDYH D VHFRQG SHUVRQ VWDQG EDFN IURP WKH GHFN DW OHDVW IHHW DQG ZDWFK WKH EODGHV RQ RQH RI WKH FXWWLQJ GHFNV +DYH WKH RSHUDWRU VKXW WKH FXWWLQJ GHFNV GRZQ DQG UHFRUG WKH WLPH LW WDNHV IRU WKH EODGHV WR FRPH WR D FRPSOHWH VWRS ,I WKLV WLPH LV JUHDWHU WKDQ VHFRQGV WKH EUDNLQJ YDOYH QHHGV DGMXVWPHQW &DOO \RXU 7RUR 'LVWULEXWRU IRU DVVLVWDQFH LQ PDNLQJ WKLV DGMXVWPHQW l GLD l GLD l l 81& 6(59,&,1* 5($5 52//(5 )LJ
0$,17(1$1&( ,QVSHFW EHDULQJV VKDIW DQG VSLUDO UHWDLQLQJ ULQJ IRU GDPDJH 5HSODFH GDPDJHG FRPSRQHQWV 5H DVVHPEOH UROOHU $VVHPEO\ 3UHVV EHDULQJ RQWR RQH HQG RI VKDIW $SSO\ SUHVVXUH WR LQQHU UDFH RQO\ ,QVWDOO VSLUDO UHWDLQLQJ ULQJ RQ VDPH HQG DV DVVHPEOHG EHDULQJ ,QVWDOO VKDIW ZLWK VLQJOH EHDULQJ LQWR WXEH DVVHPEO\ ,QVWDOO VHFRQG EHDULQJ LQWR UROOHU DVVHPEO\ 3UHVV RQO\ RQ LQQHU UDFH 7KH LQQHU UDFH ZLOO FRQWDFW VKRXOGHU RI VKDIW EHIRUH RXWHU UDFH FRQWDFWV VKRXOGHU RI KRXVLQJ ,QVWD
7KH 7RUR *HQHUDO &RPPHUFLDO 3URGXFWV :DUUDQW\ $ 7ZR