TherapeuticsMD, Inc.

TXMD

TXMDTherapeuticsMD, Inc. US flag

NASDAQ Global Select

1.97

USD

-0.07

- -

22.80MMarket Cap

Income Statement (USD)

API Chat

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Sales/Revenue/Turnover	2	4	9	15	20	19	17	16	50	65	3	70	1	2	3
+ Sales & Services Revenue	2	4	9	15	20	19	17	16	50	65	3	70	1	2	3
- Cost of Revenue	1	1	2	4	5	4	3	3	6	16	1	1	- -	- -	- -
+ Cost of Goods & Services	1	1	2	4	5	4	3	3	6	16	1	1	- -	- -	- -
Gross Profit	1	2	7	11	16	15	14	13	43	49	1	69	1	- -	- -
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-2	-3
- Operating Expenses	7	19	33	65	101	105	92	144	195	204	81	58	10	7	7
+ Selling, General & Admin	6	14	19	22	29	51	58	116	175	194	81	57	9	6	7
+ Research & Development	- -	4	14	43	72	54	34	27	20	10	- -	- -	- -	- -	- -
+ Other Operating Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1	1	1	- -
Operating Income (Loss)	-5	-16	-26	-54	-85	-90	-78	-130	-151	-156	-80	11	-9	-5	-4
- Non-Operating (Income) Loss	7	19	3	- -	- -	- -	-1	2	25	28	- -	10	-1	-3	-4
+ Interest Expense, Net	- -	2	3	- -	- -	- -	- -	5	17	26	23	- -	- -	- -	- -
+ Interest Expense	- -	2	3	- -	- -	- -	- -	5	17	26	23	- -	- -	- -	- -
- Interest Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Op (Income) Loss	7	17	- -	- -	- -	- -	-1	-2	8	2	-23	10	-1	-2	-3
Pretax Income	-13	-35	-28	-54	-85	-90	-77	-133	-176	-184	-79	1	-8	-2	-1
- Income Tax Expense (Benefit)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	-13	-35	-28	-54	-85	-90	-77	-133	-176	-184	-79	1	-8	-2	-1
- Net Extraordinary Losses (Gains)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	93	-111	3	- -	- -
+ Discontinued Operations	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-93	111	-3	- -	- -
+ Extraord. & Accounting Changes	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	186	-222	5	- -	- -
Income (Loss) Incl. MI	-13	-35	-28	-54	-85	-90	-77	-133	-176	-184	-172	112	-10	-2	-1
- Minority Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income, GAAP	-13	-35	-28	-54	-85	-90	-77	-133	-176	-184	-172	112	-10	-2	-1
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	-13	-35	-28	-54	-85	-90	-77	-133	-176	-184	-172	112	-10	-2	-1
EBIT	-5	-16	-26	-54	-85	-90	-78	-130	-151	-156	-80	11	-9	-5	-4
EBITDA	-5	-16	-26	-54	-85	-90	-77	-130	-150	-151	-79	12	-8	-4	-3
EBITDA Margin (%)	-257.28	-421.48	-293.43	-359.3	-422.62	-465.59	-461.42	-807.02	-301.76	-233.5	-3,064.17	16.96	-583.79	-202.39	-99.97
EBITA	-5	-16	-26	-54	-85	-90	-78	-130	-151	-156	-80	11	-9	-5	-4
Gross Margin (%)	54.64	64.69	77.67	75.56	77.63	78.38	84.28	83	87.24	75.37	45.51	98	100	100	100
Operating Margin (%)	-259.9	-422.95	-294.09	-359.65	-422.93	-466.27	-462.69	-808.85	-304.56	-239.77	-3,092.77	15.24	-654.61	-275.07	-139.44
Profit Margin (%)	-618.4	-919.86	-323.84	-360.82	-422.37	-464.32	-458.5	-823.74	-354.79	-282.9	-6,700.93	160.08	-789.4	-123.85	-18.83
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Depreciation Expense	- -	- -	- -	- -	- -	- -	- -	- -	1	4	1	1	1	1	1
Basic Weighted Avg Shares	1	2	3	3	3	4	4	5	5	6	8	9	10	12	- -
Basic EPS, GAAP	-10.33	-19.16	-11.14	-18.11	-24.56	-22.92	-18.71	-29.47	-35.75	-33.29	-21.66	12.41	-0.98	-0.19	- -
Basic EPS from Cont Ops	-10.33	-19.16	-11.14	-18.11	-24.56	-22.92	-18.71	-29.47	-35.75	-33.29	-9.96	0.12	-0.74	-0.2	- -
Diluted Weighted Avg Shares	1	2	3	3	3	4	4	5	5	6	8	9	10	12	- -
Diluted EPS, GAAP	-10.33	-19.16	-11.14	-18.11	-24.56	-22.92	-18.71	-29.47	-35.75	-33.29	-21.66	11.96	-0.98	-0.19	- -
Diluted EPS from Cont Ops	-10.33	-19.16	-11.14	-18.11	-24.56	-22.92	-18.71	-29.47	-35.75	-33.29	-9.96	0.11	-0.74	-0.2	- -

Balance Sheet (USD)

API Chat

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Total Current Assets	1	5	59	56	71	139	140	187	208	128	119	55	12	12	14
+ Cash, Cash Equivalents & STI	- -	2	54	51	65	132	127	162	161	80	65	38	4	5	7
+ Cash & Cash Equivalents	- -	2	54	51	65	132	127	162	161	80	65	38	4	5	7
+ ST Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Accounts & Notes Receiv	- -	1	2	2	3	5	4	11	24	32	36	- -	3	4	4
+ Accounts Receivable, Net	- -	1	2	2	3	5	4	11	24	32	36	- -	- -	- -	- -
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	3	4	4
+ Inventories	1	2	1	1	1	1	1	3	12	8	8	- -	- -	- -	- -
+ Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	6	4	3	- -	- -	- -	- -
+ Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	1	1	2	- -	- -	- -	- -
+ Finished Goods	1	1	1	1	1	1	1	3	5	3	3	- -	- -	- -	- -
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Assets	- -	1	2	1	2	2	7	11	11	8	11	17	4	4	3
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	- -	1	3	3	3	3	4	25	58	53	50	35	32	27	23
+ Property, Plant & Equip, Net	- -	- -	- -	- -	- -	1	- -	- -	13	12	9	8	4	6	5
+ Property, Plant & Equip	- -	- -	- -	- -	- -	1	1	1	14	13	11	10	7	6	5
- Accumulated Depreciation	- -	- -	- -	- -	- -	- -	- -	1	1	2	2	2	3	- -	- -
+ LT Investments & Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	- -	1	3	3	3	3	3	25	45	42	41	27	27	20	18
+ Total Intangible Assets	- -	- -	1	1	2	2	3	24	44	41	7	7	6	4	4
+ Goodwill	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Intangible Assets	- -	- -	1	1	2	2	3	24	44	41	7	7	6	4	4
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	- -	1	2	2	1	- -	- -	1	- -	- -	34	21	21	16	14
Total Assets	1	6	62	59	74	142	143	212	266	182	169	90	43	39	38
+ Payables & Accruals	1	2	5	9	10	13	11	34	37	57	15	19	2	1	1
+ Accounts Payable	- -	2	2	6	3	7	4	23	19	21	3	2	- -	- -	- -
+ Accrued Taxes	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	- -	1	3	3	7	6	7	11	18	36	12	16	2	- -	1
+ ST Debt	2	- -	- -	- -	- -	- -	- -	- -	2	2	190	1	1	2	1
+ ST Borrowings	2	- -	- -	- -	- -	- -	- -	- -	- -	- -	188	- -	- -	- -	- -
+ ST Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	2	2	1	1	1	2	1
+ Other ST Liabilities	- -	1	2	1	1	2	3	7	14	- -	48	27	4	3	3
+ Deferred Revenue	- -	1	2	1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	- -	- -	- -	1	1	2	3	7	14	- -	48	27	4	3	3
Total Current Liabilities	3	4	7	11	11	15	13	41	53	59	253	47	7	5	5
+ LT Debt	- -	4	- -	- -	- -	- -	- -	73	204	246	8	7	7	6	5
+ LT Borrowings	- -	4	- -	- -	- -	- -	- -	73	195	238	- -	- -	- -	- -	- -
+ LT Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	9	9	8	7	7	6	5
+ Other LT Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	2	1	1	1	1
+ Accrued Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Pension Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	2	1	1	1	1
Total Noncurrent Liabilities	- -	4	- -	- -	- -	- -	- -	73	204	246	10	8	7	6	6
Total Liabilities	3	7	7	11	11	15	13	114	257	306	263	55	14	11	11
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	15	51	135	183	283	437	517	617	705	755	958	975	979	979	979
+ Common Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Additional Paid in Capital	15	51	135	183	283	437	516	617	704	755	958	974	979	979	979
- Treasury Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Retained Earnings	-17	-52	-81	-135	-220	-310	-387	-519	-695	-879	-1,051	-939	-950	-952	-952
+ Other Equity	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Equity Before Minority Interest	-2	-1	55	48	63	127	130	98	9	-124	-94	35	29	27	27
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Equity	-2	-1	55	48	63	127	130	98	9	-124	-94	35	29	27	27
Total Liabilities & Equity	1	6	62	59	74	142	143	212	266	182	169	90	43	39	38
Shares Outstanding	2	2	3	3	4	4	4	5	5	6	9	9	12	12	12
Number of Employees	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Capital Leases - Total	- -	- -	- -	- -	- -	- -	- -	- -	11	11	9	9	8	7	6
Net Debt	2	2	-54	-51	-65	-132	-127	-88	34	157	123	-38	-4	-5	-7
Net Debt to Equity	-129.89	-142.05	-99.07	-106.14	-102.61	-103.17	-97.87	-90.47	367.4	-126.78	-131.77	-108.32	-14.77	-18.48	-27.84
Tangible Common Equity Ratio	-128.88	-29.42	88.07	81.52	85.21	89.3	90.49	39.08	-15.93	-118.04	-62.07	33.77	62.32	66.81	68.2
Current Ratio	0.39	1.28	8.12	5.26	6.63	9.3	10.48	4.55	3.93	2.17	0.47	1.18	1.72	2.37	3.02
Cash Conversion Cycle	151.38	184.03	-196.16	-246.99	-306.76	-270.32	-413.06	-592.42	53.62	-220.16	2,569	1,252.35	- -	- -	- -

Cash Flow Statement (USD)

API Chat

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
+ Net Income	-13	-35	-28	-54	-85	-90	-77	-133	-176	-184	-79	1	-8	-2	-1
+ Depreciation & Amortization	- -	- -	- -	- -	- -	- -	- -	- -	1	4	1	1	1	1	1
+ Non-Cash Items	7	21	6	5	7	20	7	9	23	23	19	25	1	2	- -
+ Stock-Based Compensation	- -	2	4	5	7	17	7	9	11	11	18	12	1	- -	- -
+ Deferred Income Taxes	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Asset Impairment Charge	- -	- -	- -	- -	- -	- -	- -	- -	- -	1	- -	- -	- -	1	- -
+ Other Non-Cash Adj	7	19	3	- -	- -	3	- -	- -	12	12	1	13	- -	- -	- -
+ Chg in Non-Cash Work Cap	- -	1	1	3	-1	1	-6	16	-14	-3	5	-4	-17	1	2
+ (Inc) Dec in Accts Receiv	- -	-1	-1	- -	-1	-4	- -	-7	-14	-8	-4	- -	- -	- -	- -
+ (Inc) Dec in Inventories	- -	-1	1	- -	- -	- -	- -	-2	-9	-3	-1	- -	- -	- -	- -
+ (Inc) Dec in Prepaid Assets	- -	- -	- -	- -	- -	- -	- -	- -	-2	3	-1	1	2	- -	- -
+ Inc (Dec) in Accts Payable	1	2	- -	4	-3	4	-2	28	10	5	4	3	-18	-1	- -
+ Inc (Dec) in Other	- -	1	1	- -	2	1	-4	-3	- -	- -	7	-8	-2	1	1
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-88	-13	- -	- -	- -
Cash from Operating Activities	-5	-13	-21	-46	-79	-69	-76	-107	-166	-159	-143	9	-23	1	2
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	- -	- -	- -	-1	-1	-1	-1	-21	-24	-2	-2	- -	- -	- -	- -
+ Acq of Fixed Prod Assets	- -	- -	- -	- -	- -	- -	- -	- -	-2	- -	- -	- -	- -	- -	- -
+ Acq of Intangible Assets	- -	- -	- -	-1	- -	-1	-1	-21	-21	-1	-2	- -	- -	- -	- -
+ Cash (Repurchase) of Equity	1	8	79	43	91	135	69	90	77	32	184	2	3	- -	- -
+ Increase in Capital Stock	1	8	79	43	91	135	69	90	77	32	184	2	3	- -	- -
+ Decrease in Capital Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Change in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Dec in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Acq & Div	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash from Divestitures	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash for Acq of Subs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	224	- -	- -	- -
Cash from Investing Activities	- -	- -	-1	-1	-1	-1	-1	-21	-24	-2	-2	- -	- -	- -	- -
+ Dividends Paid	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Debt	3	6	-5	- -	- -	- -	- -	75	37	50	-100	-439	- -	- -	- -
+ Cash From Debt	3	9	- -	- -	- -	- -	- -	75	200	50	- -	- -	- -	- -	- -
+ Repayments of Debt	- -	-2	-5	- -	- -	- -	- -	- -	-163	- -	-100	-439	- -	- -	- -
+ Other Financing Activities	1	- -	- -	1	2	2	4	-2	75	-1	45	201	- -	- -	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	5	14	74	43	93	137	73	163	189	81	130	-235	3	- -	- -
Effect of Foreign Exchange Rates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Changes in Cash	- -	1	53	-3	13	67	-4	34	-1	-80	-15	-226	-20	1	2
EBITDA	-5	-16	-26	-54	-85	-90	-77	-130	-150	-151	-79	12	-8	-4	-3
EBITDA Margin (%)	-257.28	-421.48	-293.43	-359.3	-422.62	-465.59	-461.42	-807.02	-301.76	-233.5	-3,064.17	16.96	-583.79	-202.39	-99.97
Free Cash Flow	-5	-13	-21	-46	-80	-70	-77	-128	-190	-161	-145	9	-23	1	2
Net Cash Paid for Acquisitions	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Free Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	9	- -	- -	- -
Free Cash Flow to Equity	-2	-6	-26	-46	-79	-70	-76	-32	-131	-110	-243	-430	-23	1	2
Free Cash Flow per Basic Share	-4	-7.1	-8.33	-15.41	-22.99	-17.95	-18.73	-28.47	-38.48	-29.22	-18.21	1	-2.21	0.1	- -
Price/Free Cash Flow	-19.03	-22.79	-32.76	-14.84	-22.89	-16.66	-16.48	-10.03	-4.2	-2.11	-1.02	5.39	-1.02	8.48	- -
Cash Flow to Net Income	0.38	0.36	0.73	0.84	0.93	0.77	0.99	0.81	0.94	0.87	0.83	0.08	2.25	-0.54	-4.31
Capital Expenditures	- -	- -	- -	-1	-1	-1	-1	-21	-24	-2	-2	- -	- -	- -	- -