Market Watch for 1/4/ 2010 thru 1/17/2010

[ShotsII]

6. The Glass-Half-Empty Axiom
Bashers on message boards are a very real force to contend with and it's not a coincidence that I've put this axiom after the "Vapor Shares Axiom." It is easier to get a person to sell a stock than it is to buy a stock...and they know this very well. If your stock's message board becomes infested with bashers...be careful! Unless you believe the company has some incredible news that may force these guys to cover or unless you know of a group with mega-bank that is going to push the stock and perhaps force a cover...be careful when playing with shorty. Many of these bashers will try and convince you that they are there out of the kindness of their heart to try and rescue other investors from the perils of a diluting CEO or worse. Nope. Their motives are to bring the PPS down down down. Bashers, in the end, are almost always right eventually because they are bashing OTC issues. They know axioms like "The Center Stage Axiom" too!!!

7. The Supply IS Demand Axiom
I have seen several runs simply because a stock has a low share structure. A low supply creates demand. Know the share structure. On plays where the TA is gagged, plan to exit within hours of entering and play the momentum only unless you have STRONG and SOLID reason to believe the stock will go up. Call transfer agents. Learn what authorized shares, outstanding shares, and float mean. The share structure is the first thing I look for when making a new investment...it should be the first thing you look for too. If a company is not willing to be transparent in this area, you can bet there's a hundred other areas they're not willing to be transparent about. I have and continue to invest in plays where the transfer agents are gagged (unable to report to you what the current share structure is) but I don't plan to stay invested for long.

8. The Don't Click The Mouse Yet Axiom
Never buy a stock at the high of day after a significant run (good rule of thumb here may be 70-80%). Wait for a pullback. And while you're waiting, do some due diligence. Check the company's filings on pinksheets.com or otcbb.com. Read a few of their PRs. Check the history of the leadership there. Call the transfer agent (T/A) and ask for the share structure. And on stocks that are pulling back, buy at the bid. Remember that it takes both bid buyers and ask buyers to make a stock PPS go up.

9. The Morning Patience Axiom
The first hour of the market is "amateur hour." With most first-hours on hot issues, it'll either be extreme bid whackage which will cause some panic selling which will create some excellent buying opportunities later in the morning OR it will be extreme ask slappage which will lead to a pullback around lunchtime. I hardly ever buy during the first hour of the trading day, and I'd venture to say 80-90% of the time that decision has paid off. I'd rather watch a few missed opportunities than be stuck in a bunch of "apparent" ones.

10. The Bruised Knee Axiom
There are too many enemies against an OTC issue's PPS going up to NEVER lose a battle. Know how to take a defeat. You lost. YOU made a mistake. Evaluate what went wrong. Evaluate why YOU lost money. It's okay to lose money occasionally but it's not okay to be just as dumb after as you were before! Think, think, THINK! Don't make the error again. Get smarter. Listen, school is expensive...tuition rates are high! If you want to make money trading the OTC you had better plan to spend the first year in school.

11. The Show-Me-The-Money Axiom
I once asked a poster that was complaining about getting lied to on a message board: "Are you stupid in any other areas?" Seriously folks, everyone on a stock message board has an agenda...including ME. Including YOU. Consider how often your posts are seasoned with fiction and/or things that you simply DO NOT KNOW TO BE CERTAIN. Consider that you have most likely served up a poo-poo platter covered thickly with powdered sugar. Trusting stock message boards for accurate due diligence is like trusting the National Enquirer for accurate UFO sightings.

12. The I'm-Rubber-And-You're-Glue Axiom
Develop thick skin if you plan to post on stock message boards much. 'Nuff said.

13. The Know-Your-Anthropology Axiom
Understand the nature of man! For this axiom, you need to be somewhat of a Christian theologian. The Bible clearly teaches us that mankind is not naturally good...he is naturally evil (Psalm 14 is a good place to start). The word Christian theologians use to describe our condition is "depravity." Because of the fall of man, we are morally corrupt in every part of our being and tend toward wickedness (i.e. greed, theft, lying). We stand in need of redemption from a Savior. So understand that you are playing amongst people (including yourself) that are not naturally good...they are naturally bad. In other words, you're playing with fire. Lies, half-truths, and misrepresentations abound in the OTC world. You better take EVERYTHING with a grain-of-salt the size of Texas. Some posters require more salt than others to digest. Be an evaluator of people. Learn how to ask the right questions. Make sure your yellow flags and red flags are ALWAYS working.

14. The Early-To-The-Party Axiom
Be willing to buy lower what you bought higher. I have often arrived to a party early. By "party" I mean a gathering of people and people's money that will result in a stock's PPS going much higher. By "early" I mean I got there before the stock was sitting at a low. I am always somewhat discouraged when a purchase I made continues to go down. But if I have done solid due diligence in the company, I often take it as an opportunity to add more shares cheaper and lower my average. In other words, don't look at your initial investment as dead money and hope that it goes back up again so you can get out. Average down, do the due, and then promote your stock to others and help jumpstart the party. Be a spark plug.

15. The Next! Axiom
Be looking to get out of an issue the moment you get in. Have an exit strategy in place. By buying a stock you are not entering into any kind of formal arrangement like matrimony. You are an investor and as such your goal is to make money. If your investment should go up within the first 20-30 minutes of purchase why is it any different taking some profit then as if it took 20-30 days for it to go up? Get in. Lock in profits. Ride freebies.

16. The Grow-Up Axiom
Somebody once said: "If somebody screws you once, shame on them. But if somebody screws you twice, shame on you." In the OTC world I would modify it a bit to say: "If somebody screws you once, shame on you. If somebody screws you twice, you really are a moron." Take responsibility for ALL your investment decisions. Almost nothing ever happens as planned or hoped here on the OTC. There are too many enemies against making a stock's PPS go up. If you're going to play the game down here...you better be ready to accept FULL and COMPLETE responsibility for EVERYTHING YOU DO IN THIS INVESTING REALM. Point the finger of blame at only one place: yourself.

17. The Ask-Yourself-Why Axiom
Understand that many of the people encouraging you to buy an issue are compensated promoters whether they disclaim it or not. Most times they do not have your best interest in mind, they have their best interest in mind cause they're sitting on a mountain of stock and can't wait to turn paper into cash. It has been said that "the man that can answer the question 'what' will always have a job but the man that can answer the question 'why' will always be his boss." Be continually evaluating EVERYTHING by asking questions that begin with "WHY."

18. The What-Was-That-Again? Axiom
Understand you are almost NEVER getting the whole story. The only way optimists will survive in the OTC is if they become compensated promoters. Pessimists can either become paid bashers or fast flippers. The OTC calls for realism. Be a realist. To be a true OTC realist you need to know and understand all that you are up against to make a stock's PPS go up.

19. The Public-Versus-Private Posts Axiom
Many of the people pumping stocks are stuck in them and want to inspire a whole new wave of bagholders to come take their place. Often times what is being said on the public message boards is completely different than what those same posters are saying behind closed doors. Realize this. Digest this. Embrace this. Don't be naive.

[ShotsII]

20. The Buy-The-Story-Not-The-Company Axiom
So you bought a stock because of a solid PR that came out. Cool. Why did you buy? Because of the story. Do you really know anything else about the company? Is it real? Do they have a big building? Do they have equipment? Are they producing? Forget all that. In many ways it is irrelevant. If you are going to invest in the OTC you had better learn to invest in STORIES. Now, ironically, one of the dictionary definitions for "story" is "a lie or fabrication." Do you really think that you are investing in the same caliber of companies on the OTC as you would on the NASDAQ or NYSE? Don't be naive! Do you think what your company outlined in that lovely PR is really going to happen? Two words for you my friend: SAFE HARBOR. In the OTC you are investing in POTENTIAL ALONE; therefore, be a discerner of the POTENTIAL OF THAT COMPANY'S STORY. What has great potential? Water to China? American Idol in a 3-D world? Gasoline replacement in a weed? Oh yeah baby! All those STORIES have great POTENTIAL. But there's a monster "IF" involved in every one of those. After some time, the reality that the "IF" is gonna stay a big "IF" sinks in and the stock PPS encounters a slow death. Sadly, some of the really real OTC companies go unnoticed because they do not have a great story with potential. The term many investors use to refer to the story is "kool aid." Does your stock have good "kool aid?" Well, does the potential of your company make you want to buy it? Does it make other want to buy it? I try to avoid investing in OTC issues that do not have good kool aid flowage or the potential for good kool aid flowage. Wow. What a concept. On the OTC sometimes you have to invest in the POTENTIAL POTENTIAL of a company. (That last sentence wasn't a misprint. Read it twice if you need to.)

21. The Don't-Gamble-Away-The-Mortgage Axiom
You *should* expect to lose your entire investment. You *should* expect to lose more money than you make playing OTC issues until you wise up, learn these axioms, and behave according to them. If you are playing the OTC to try and make some quick money to pay off a debt, good luck with that. Unless you are an experienced OTC Jedi Master that does this for a living (and I'm by no means saying that I am one or that I have arrived!), you better ONLY USE MONEY YOU CAN AFFORD TO LOSE.

22. The Dingleberry Axiom
This is the term I save for bidwhackers. Realize that the OTC market is unfortunately full of people that don't understand the concept of selling at the offer. They are more than happy to whack out the bids on an issue for their lunch money. Realize that usually the longer an issue stays in the spotlight, the more problem it is gonna have with dingleberries, er, whackers.

23. The Bid And Offer Axiom
Level 2 is often the truest of truths in the OTC. It tells a very accurate story. If you cannot afford to spend your day glued to L2 watching the issues you're trading...you shouldn't expect winning trades on the OTC. I simply cannot stress enough the importance of having LIVE Level 2 and understanding it. Spend some time paper trading which watching L2s. Practice. Practice. Learn. You just gotta understand what the Level 2s are telling you. Some of my friends would also come in here at this point and say it is not only L2 it is also the chart. I would argue that it is MORE L2 and LESS the chart. By understanding and watching L2 I feel like I can identify dilution much faster than by simply looking at a chart and all its indicators.

24. The CEO Is A Scumbag Axiom
Now I know we're all quick to defend our favorite CEO...but the truth is he or she is a scumbag. Now what level of scumbag she or he is I cannot say...but with confidence I can say that every OTC CEO is a scumbag. Deal with it.

25. The Know Your Friends And Enemies Axiom
You will have a hard time succeeding down here without friends. Any amount of public success will bring you more friends and new enemies. Understand which is which. Keep your nose clean. Loose lips sink ships. Know when its time to sever a relationship. Know when its time to repair a relationship. Know your associates.

Now, I must ask you, knowing all of the above, do you REALLY want to mess around with penny stocks? I mean...really???

Okay.

Those of you that have never traded in the OTC or are just beginning to trade down here and are right now shaking your head and thinking that you somehow transcend these axioms...you will have to learn the hard way. Traders like me will end up with your money. I want to thank you in advance for helping build my portfolio.

Those of you scared out of your gourd right now...GOOD. You should be. You should realize that you're absolutely nuts to be risking money down here (and I use the term "down here" on purpose) in the OTC!!!

Investing in the OTC is very risky. It's riskier than Alaskan King Crab fishing! But the rewards often outweigh the risk. The lure of monster profits is too much for many of us to say "no" to. The idea of finding that one true gem in a million that becomes the next Yahoo is too strong a draw for many of us to avoid. The surge of adrenalin that comes when profiting 100% on your money within the same hour you made the trade is addicting. The fun that comes from finding friends and having a successful trade with them is indeed AWESOME.

The OTC is a crazy world that attracts some pretty crazy people...and yet I have chosen to live in this world...I have accepted the consequences of investing in the OTC. I feel safer putting my money in an OTC issue than a NASDAQ or NYSE issue because I understand the OTC.

I have written all of the above as a student, not a teacher. I will always be a student of the OTC...ever learning. I do believe that is a good attitude to have if you want to truly be a successful OTC trader/investor. I do hope that some of what I have said above will help you retain and/or build your bank!

If you want to quibble about something I've stated above or you'd like to tweak something to make it a little more accurate...please feel free to come and engage me on my Van Scan board here: http://investorshub.advfn.com/boards...board_id=12481

Sincerely,

vantillian

NOTE: This material is original with me but please disperse and dispense far and wide as long as you give credit and you think it will be helpful.

[Dr. Dave]

Here's the rub with CBAI summarised - Borrowed from the shrub;

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Posted by: mike71394 Date: Wednesday, January 06, 2010 7:29:01 PM
In reply to: None Post # of 17985

interesting read.


Wednesday, January 6, 2010
CBAI - Outstanding Shares Growing At An Alarming Rate

For anyone that actually does research before investing in the stock market, it wouldn't take you long to realize CBAI's outstanding shares have been growing at an alarming rate.

In August the outstanding shares were:

2,611,087,327 as of Aug 10, 2009

In November the outstanding shares were:

4,568,253,327 as of November 9th, 2009


That is an almost 2 billion share increase in one quarter. Factor in the latest dilutive SEC filings and CBAI's outstanding shares are likely close to its almost 7 billion authorized.

No matter how you try to paint this pig, it still looks ugly. The business model can be pretty, but with the amount of shares that are being dumped, demand will not be enough to keep up with supply, and the stock will inevitably fall.

I'd like someone to explain to me how a company that almost doubles its outstanding shares in one quarter deserves a $100 million market cap. It defies logic.

Today's press release is vague. Just how did they retire the debt? They didn't say how. Are people just letting them have the money? I think not. It was likely converted into equity, meaning MORE dilution. The balance sheet might look better, the debt load may decrease, the company may have a bright future, but the amount of shares will continue to increase... and when you are a shareholder in the company more shares equals less of a stake in the company, which isnt' what you signed up for.

http://investorshub.advfn.com/boards...ge_id=45200076

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Pretty decent board there actually, a lot of info shared.

Here's another bit:

http://investorshub.advfn.com/boards...ge_id=45208898

One thing for certain, the chatter level is sky high on this right now ...

LT - if you're worried about it - just follow the price (volume next) - that's the most important thing. It's up now, when it cuts back, sell. Simple as that.

[Dr. Dave]

LT -

CBAI hitting the roof, ie. running into resistance... if you're flipping, I'd say, now's not a bad time... your call of course - I'm shaving a little more

[Los Tiburones]

LT -

CBAI hitting the roof, ie. running into resistance... if you're flipping, I'd say, now's not a bad time... your call of course - I'm shaving a little more

Hey Dave,

Been watching it on the trade page at the shrub ... more buyers than sellers ... looks like that resistance is right about .0193 ...

Shoot, I just went green with the mighty "Q"

[Dr. Dave]

Hey Dave,

Been watching it on the trade page at the shrub ... more buyers than sellers ... looks like that resistance is right about .0193 ...

Shoot, I just went green with the mighty "Q"

I sold another 20% of shares at 0.019

226% gain - yeah, and I went in pretty big <for me>, lol.

[Los Tiburones]

20. The Buy-The-Story-Not-The-Company Axiom
So you bought a stock because of a solid PR that came out. Cool. Why did you buy? Because of the story. Do you really know anything else about the company? Is it real? Do they have a big building? Do they have equipment? Are they producing? Forget all that. In many ways it is irrelevant. If you are going to invest in the OTC you had better learn to invest in STORIES. Now, ironically, one of the dictionary definitions for "story" is "a lie or fabrication." Do you really think that you are investing in the same caliber of companies on the OTC as you would on the NASDAQ or NYSE? Don't be naive! Do you think what your company outlined in that lovely PR is really going to happen? Two words for you my friend: SAFE HARBOR. In the OTC you are investing in POTENTIAL ALONE; therefore, be a discerner of the POTENTIAL OF THAT COMPANY'S STORY. What has great potential? Water to China? American Idol in a 3-D world? Gasoline replacement in a weed? Oh yeah baby! All those STORIES have great POTENTIAL. But there's a monster "IF" involved in every one of those. After some time, the reality that the "IF" is gonna stay a big "IF" sinks in and the stock PPS encounters a slow death. Sadly, some of the really real OTC companies go unnoticed because they do not have a great story with potential. The term many investors use to refer to the story is "kool aid." Does your stock have good "kool aid?" Well, does the potential of your company make you want to buy it? Does it make other want to buy it? I try to avoid investing in OTC issues that do not have good kool aid flowage or the potential for good kool aid flowage. Wow. What a concept. On the OTC sometimes you have to invest in the POTENTIAL POTENTIAL of a company. (That last sentence wasn't a misprint. Read it twice if you need to.)

21. The Don't-Gamble-Away-The-Mortgage Axiom
You *should* expect to lose your entire investment. You *should* expect to lose more money than you make playing OTC issues until you wise up, learn these axioms, and behave according to them. If you are playing the OTC to try and make some quick money to pay off a debt, good luck with that. Unless you are an experienced OTC Jedi Master that does this for a living (and I'm by no means saying that I am one or that I have arrived!), you better ONLY USE MONEY YOU CAN AFFORD TO LOSE.

22. The Dingleberry Axiom
This is the term I save for bidwhackers. Realize that the OTC market is unfortunately full of people that don't understand the concept of selling at the offer. They are more than happy to whack out the bids on an issue for their lunch money. Realize that usually the longer an issue stays in the spotlight, the more problem it is gonna have with dingleberries, er, whackers.

23. The Bid And Offer Axiom
Level 2 is often the truest of truths in the OTC. It tells a very accurate story. If you cannot afford to spend your day glued to L2 watching the issues you're trading...you shouldn't expect winning trades on the OTC. I simply cannot stress enough the importance of having LIVE Level 2 and understanding it. Spend some time paper trading which watching L2s. Practice. Practice. Learn. You just gotta understand what the Level 2s are telling you. Some of my friends would also come in here at this point and say it is not only L2 it is also the chart. I would argue that it is MORE L2 and LESS the chart. By understanding and watching L2 I feel like I can identify dilution much faster than by simply looking at a chart and all its indicators.

24. The CEO Is A Scumbag Axiom
Now I know we're all quick to defend our favorite CEO...but the truth is he or she is a scumbag. Now what level of scumbag she or he is I cannot say...but with confidence I can say that every OTC CEO is a scumbag. Deal with it.

25. The Know Your Friends And Enemies Axiom
You will have a hard time succeeding down here without friends. Any amount of public success will bring you more friends and new enemies. Understand which is which. Keep your nose clean. Loose lips sink ships. Know when its time to sever a relationship. Know when its time to repair a relationship. Know your associates.

Now, I must ask you, knowing all of the above, do you REALLY want to mess around with penny stocks? I mean...really???

Okay.

Those of you that have never traded in the OTC or are just beginning to trade down here and are right now shaking your head and thinking that you somehow transcend these axioms...you will have to learn the hard way. Traders like me will end up with your money. I want to thank you in advance for helping build my portfolio.

Those of you scared out of your gourd right now...GOOD. You should be. You should realize that you're absolutely nuts to be risking money down here (and I use the term "down here" on purpose) in the OTC!!!

Investing in the OTC is very risky. It's riskier than Alaskan King Crab fishing! But the rewards often outweigh the risk. The lure of monster profits is too much for many of us to say "no" to. The idea of finding that one true gem in a million that becomes the next Yahoo is too strong a draw for many of us to avoid. The surge of adrenalin that comes when profiting 100% on your money within the same hour you made the trade is addicting. The fun that comes from finding friends and having a successful trade with them is indeed AWESOME.

The OTC is a crazy world that attracts some pretty crazy people...and yet I have chosen to live in this world...I have accepted the consequences of investing in the OTC. I feel safer putting my money in an OTC issue than a NASDAQ or NYSE issue because I understand the OTC.

I have written all of the above as a student, not a teacher. I will always be a student of the OTC...ever learning. I do believe that is a good attitude to have if you want to truly be a successful OTC trader/investor. I do hope that some of what I have said above will help you retain and/or build your bank!

If you want to quibble about something I've stated above or you'd like to tweak something to make it a little more accurate...please feel free to come and engage me on my Van Scan board here: http://investorshub.advfn.com/boards...board_id=12481

Sincerely,

vantillian

NOTE: This material is original with me but please disperse and dispense far and wide as long as you give credit and you think it will be helpful.

Hey shots, go take another leak! LOL (Inside joke, he is over on the shrub at the moment, lounging at the aerospace club)

Nice find here, would be great for the other thread on penny education ... looking forward to reading through it later on tonight - I am all over the place right now

[Los Tiburones]

I sold another 20% of shares at 0.019

226% gain - yeah, and I went in pretty big <for me>, lol.

Nice!

Well, I knew there was a delay on the shrub viewing it from the trades section, just didn't realize it was that far removed from real time ...

Still trying to get my arms around the Etrade pro and being at work ... limited time during lunch ... just a bit discombobulated today ...

Oh well, this doesn't seem to be following any normal sense of how things ought to go ... Think yesterday was the opposite, more sells than buys ... and it held up well today ... All put togther it doesn't make any sense to me.

Had put in a sell this morning at .022 and by the time i got around to changing it ...

Tomorrow I guess - Nice day though, so far so good this year!

[Dr. Dave]

Here's the rub with CBAI summarised - Borrowed from the shrub;

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Posted by: mike71394 Date: Wednesday, January 06, 2010 7:29:01 PM
In reply to: None Post # of 17985

interesting read.


I'd like someone to explain to me how a company that almost doubles its outstanding shares in one quarter deserves a $100 million market cap. It defies logic.

T...

LOL -

ok - let's calculate what 1 of our refridgerators are worth....

Here's the price for setup, and subscriptions - cbai is the parent company of the first one listed...
http://21months.com/countdown/cord_blood_banking.htm

Being that the process at least to me is pretty simple - you get some sample, put it in a tube, add a pennies worth of glycerol, screw on cap, shove it into a liquid nitrogen container, ship by fedex/courier, receive sample, barcode it, stick it in a tank. I can't see how they don't pocket at least $500 from each "Collection Kit & Processing" fee.

So if we were to use one of our refridgerators (I'm sure they are storing in a N2 tank, but lets just see how it adds up... for 1 fridge worth of volume...

Here's what a box that we use looks like...


each is a grid of 9 x 9
our fridge has racks for these, each rack holds 16 boxes
each shelf holds 6 racks
each fridge has 5 shelves

so if you look at your fridge, multiply whatever you think they keep from that setup fee by this number:

9 x 9 x 16 x 6 x 5 = 38880 --> to make it easy lets just say a fridge can hold 40000 tubes

Lets say they just keep $250 of that $1650 set up fee, $150 enrollment fee, and $125 yearly storage fee

40000*$250=$1,000,000

So each set of tubes that takes up about the space of a standard fridge is worth $1M, just using a conservative figure of $250 per sample. I'm sure that their new building can hold more than 10 refridgerator's worth of samples.

Look at the ticker PSA - public storage - here a 10 x 10' room rents for about $250 a month... it's market cap is $14B. Sure, it doesn't use liquid nitrogen for cooling, but many have air conditioners.

Just need to convince the mom's that it's worth while. I think it's cheaper than having a second kid so your kid can have a donor. Moreover, a second kid's DNA is a recombinogenic mess compared to what you get from a stem cell... a stem cell has basically 99.99% fidelity.

I"m sure after 10 years, they'll even start charging an upkeep, where they remove some cells, culture them to make sure they are ok, and refreeze... that's more involved than the above process, so I'm sure it'll have a $5K price tag.

I think the only bottleneck is the moms.

Anyway - would I buy the stock today, hell no, not after that run up... but if it smooths out, and has another up volume day, I'd go for it.

Remember, a stock is worth the current bid... who cares what someone on the hub has to say about it. Price is the ultimate indicator.

Here's what I said about resistance, I wasn't looking at level II or anything... never do...



Here's why today is not the day to buy, or at least without some real tight stops, previously, it has run hard in weeks, can see it on the weekly, but I wouldn't encourage anyone to buy tomorrow, you want a full blown consolidation first...

[Dr. Dave]

Nice!

Well, I knew there was a delay on the shrub viewing it from the trades section, just didn't realize it was that far removed from real time ...

Still trying to get my arms around the Etrade pro and being at work ... limited time during lunch ... just a bit discombobulated today ...

Oh well, this doesn't seem to be following any normal sense of how things ought to go ... Think yesterday was the opposite, more sells than buys ... and it held up well today ... All put togther it doesn't make any sense to me.

Had put in a sell this morning at .022 and by the time i got around to changing it ...

Tomorrow I guess - Nice day though, so far so good this year!

Next time, go below the round number (0.20)... ie. something like 0.18-0.19 to get a better chance of a hit if you really want out. Like if you really really wanted out of SIRI, shoot for 0.68-0.69, not 0.71-0.72, etc.

Anyway, with today's close near the HOD, we got as chance as any for more uppage... but look for a gap and trap.